2013 Quarterly Three Report of Wuhan Boiler Company Limited
WUHAN BOILER COMPANY LIMITED
2013 QUARTERLY THREE REPORT
2013-050
October 2013
1
2013 Quarterly Three Report of Wuhan Boiler Company Limited
Section I Important Notes
The Board of Directors, the Board of Supervisors as well as all Board Directors, Supervisors and Senior
Management of Wuhan Boiler Company Limited (hereinafter referred to as “the Company”) hereby warrant that
this Report is authentic, accurate and complete without any misstatement, misleading statement or material
omission and will take individual and joint and several liabilities for that.
All Board Directors attended the Board Meeting for reviewing this Report.
Mr. Yeung Kwok Wei Richard, the Company Principal, Mr. Chin Wee Hua, Accounting Principal, and Mr. Li
Yihao, the Accounting Division’s Principal (Accounting Manager), hereby ensure that the Financial Statements
enclosed in this Report are authentic, accurate and complete.
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2013 Quarterly Three Report of Wuhan Boiler Company Limited
Section II Major Financial Data & Change of Shareholders
I. Major accounting data and financial indexes
Does the Company adjust retrospectively or restate accounting data of previous years due to change of the
accounting policy or correction of any accounting error?
□ Yes √ No
2013.9.30 2012.12.31 Increase/decrease (%)
Total assets (RMB Yuan) 1,329,143,271.39 1,623,377,051.66 -18.12%
Owners’ equity attributable to
shareholders of the Company -1,305,752,645.99 -1,243,219,537.97 -5.03%
(RMB Yuan)
Increase/decrease (%) as Increase/decrease (%) as
2013 Jul – Sep compared to last year 2013 Jan – Sep compared to last year
same period same period
Gross operating revenues (RMB
183,758,384.36 12.14% 646,039,491.11 19.54%
Yuan)
Net profit attributable to
shareholders of the Company -26,094,844.19 17.64% -62,533,731.21 -11.53%
(RMB Yuan)
Net profit attributable to
shareholders of the Company
-26,229,690.88 18.64% -65,513,010.44 -12.89%
after deducting non-recurring
gains and losses (RMB Yuan)
Net cash flow from operating
-- -- -19,807,122.99 -115.27%
activities (RMB Yuan)
Basic EPS (RMB Yuan/share) -0.09 17.64% -0.21 -11.53%
Diluted EPS (RMB Yuan/share) -0.09 17.64% -0.21 -11.53%
Items of non-recurring gains and losses
√Applicable □Inapplicable
Unit: RMB Yuan
Item Amount as of Jan.-Sept. 2013 Explanation
Gains/losses on the disposal of non-current assets (including Scrap and gain/loss on disposal
371,934.63
the offset part of asset impairment provisions) of fixed assets
Government grants recognized in the current period, except The policy prize from the
for those acquired in the ordinary course of business or 608,332.00 Municipal Bureau of Finance for
granted at certain quotas or amounts according to the 2012 and deferred revenue
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2013 Quarterly Three Report of Wuhan Boiler Company Limited
country’s unified standards related to new factory land use
right
Other non-operating income and expenses other than the Indemnity from supplier for
1,999,012.60
above product quality issue
Total 2,979,279.23 --
Explain the reasons if the Company classifies an item as a non-recurring gain/loss according to the definition in
the Explanatory Announcement No. 1 on Information Disclosure for Public Listed Companies – Non-recurring
Gains and Losses, or classifies any non-recurring gain/loss item mentioned in the said explanatory announcement
as a recurrent gain/loss item
□Applicable √Inapplicable
II. Total number of shareholders at the period-end and shares held by the top ten
shareholders
Unit: share
Total number of shareholders at the
8,160
period-end
Shares held by the top ten shareholders
Number of the Pledged or frozen shares
Nature of Shareholding Number of the
Name of shareholder non-tradable
shareholder percentage (%) shares held Status of shares Number of shares
shares held
ALSTOM (CHINA)
Domestic
INVESTMENT
non-state-owned 51% 151,470,000 151,470,000
COMPANY
corporation
LIMITED
WUHAN BOILER State-owned
6.91% 20,530,000 20,530,000
GROUP CO., LTD corporation
Domestic natural
WANG XIAO 0.9% 2,672,800 0
person
Domestic natural
CHEN PENG 0.79% 2,331,545 0
person
Domestic natural
CHEN CHUYUN 0.46% 1,372,450 0
person
Domestic natural
HU ZHIHONG 0.43% 1,281,897 0
person
HSBC BROKING
SECURITIES (ASIA) Foreign
0.4% 1,195,114 0
LIMITED-CLIENTS Corporation
A/C
CHINA State-owned 0.38% 1,141,036 0
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2013 Quarterly Three Report of Wuhan Boiler Company Limited
MERCHANTS corporation
SECURITIES (HK)
CO., LTD.
Domestic natural
WU ZHENFA 0.38% 1,138,028 0
person
ZHUANG Domestic natural
0.35% 1,045,000 0
CHANGXIONG person
Shares held by the top ten share holders with tradable shares
Type of shares
Name of shareholder Number of tradable shares held
Type Number
WANG XIAO 2,672,800 Domestically listed foreign shares 2,672,800
CHEN PENG 2,331,545 Domestically listed foreign shares 2,331,545
CHEN CHUYUN 1,372,450 Domestically listed foreign shares 1,372,450
HU ZHIHONG 1,281,897 Domestically listed foreign shares 1,281,897
HSBC BROKING SECURITIES
1,195,114 Domestically listed foreign shares 1,195,114
(ASIA) LIMITED-CLIENTS A/C
CHINA MERCHANTS
1,141,036 Domestically listed foreign shares 1,141,036
SECURITIES (HK) CO., LTD.
WU ZHENFA 1,138,028 Domestically listed foreign shares 1,138,028
ZHUANG CHANGXIONG 1,045,000 Domestically listed foreign shares 1,045,000
SUN WEIWEI 966,567 Domestically listed foreign shares 966,567
QIN HUI 909,286 Domestically listed foreign shares 909,286
The top ten shareholders of the Company are public shareholders with tradable B shares. No
affiliated relationship exists between Alstom (China) Investment Co., Ltd. (the first principal
shareholder of the Company), Wuhan Boiler Group Co., Ltd. (the second principal
Explanation on affiliated shareholder of the Company) and the other shareholders with tradable shares, and they are not
relationship or persons acting in persons acting in concert as defined in the Administrative Rules on Information Disclosure
concert among the above-mentioned about Changing of Shareholding Status. The Company is not aware of whether there is any
shareholders affiliated relationship among the top ten shareholders with tradable shares and whether there
are persons acting in concert among them. The Company is not aware of whether there is any
affiliated relationship among the top ten shareholders and the top ten shareholders with
tradable share.
Explanation on shareholders
participating in the margin trading None
business (if any)
Whether shareholders of the Company reach agreement of buy back trading in the report period?
□ Yes √ No
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2013 Quarterly Three Report of Wuhan Boiler Company Limited
Section III Significant Events
I. Major changes of main accounting statement items and financial indicators in the report
period, as well as reasons for the changes
1. Cash and cash equivalent decreased by 77.62%, mainly due to refund to customers caused by changes in project scope;
2. Notes receivable increased by 154.49%, mainly due to the notes collection increase for strengthening AR collection measures this
period;
3. Account receivables decreased by 42.18%, mainly due to collection increase for strengthening AR collection measures this period;
4. Prepayment decreased by 41.49%, mainly due to the settlement of prepayments upon receipt of suppliers’ invoices;
5. Construction in progress increased by 43.29%, mainly due to the equipment procurement;
6. Other non-current assets decreased by 100%, mainly due to the reduction in the gain arising from unsettled forward foreign
contract;
7. Notes payables decreased by 32.53%, mainly due to some bank notes matured in this period;
8. Accounts payable decreased by 38.06%, mainly due to payment to suppliers;
9. Tax payable increased by 63.74%, mainly due to refunding of export rebate taxes;
10. Interest payable increased by 170.58%, mainly due to the increase in the credit loan;
11. Other accounts payable decreased by 36.07%, mainly due to refund of withholding Alstom share fund and decrease of accrual
expense;
12. Other non-current liability decreased by 52.65%, mainly due to the reduction in the loss arising from unsettled foreign forward
contracts;
13. Business tax and surcharges decreased by 100%, mainly due to no taxable service took place in the report period;
14. Selling expenses increased by 45.94%, mainly due to the increase in the volume of projects tendered during report period;
15. Administration expenses increased by 40.17%, mainly due to the increase in the insurance expenses;
16. Assets impairment loss decreased by 61.06%, mainly due to the decrease of reversed dad-debt provision booked in previous years
for the strengthening AR collection measures this period;
17. Changes in fair value of net income decreased by 148.12%, mainly due to the loss arising from the hedging instrument and
hedged items;
18. Non-operating income increased by 55.07%, mainly due to the indemnity from supplier for product quality issue increased in the
report period;
19. Non-operating cost increased by 706.33%, mainly due to the increase in the losses from the disposal of the obsolete assets in the
report period;
20. Taxes income expenses decreased by 87.12%, mainly due to the decrease of temporary deductible differences resulted from the
reversal of bad debts provision booked in previous years for the collection this period.
21. Net cash flow generated from operating activities decreased by 115.27%, mainly due to the return of the down-payment resulted
from the change of the supply scope of sales contract in the report period;
22. Net cash flow generated from financing activities increased by 44.64%, mainly due to the increase in the cash received from the
loans;
23. The influence of the changes of rate on cash increased by 75.80%, mainly due to the influences of the rate changes.
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2013 Quarterly Three Report of Wuhan Boiler Company Limited
II. Progress and influence of significant events, as well as the analysis and explanation on
solutions
The office term of the 5th Board of Directors and the 5th Board of Supervisors of WBC expired on October 15,
2013. On September 23, 2013, the 20th Meeting of the 5th Board of Directors approved the Proposal for Election
of the New Session Board of Directors and Nomination of the Candidate Directors. On the same day, the 15th
Meeting of the 5th Board of Directors approved the Proposal for Election of the New Session Board of Supervisors
and Nomination of the Candidate Non-Employee Representative Supervisors. On September 27, 2013, the 1st
Meeting of the 2nd Employee Representatives’ Meeting elected the Employ Representative Supervisor of the 6th
Board of Supervisors. On October 10, 2013, the 1st Extraordinary Shareholders’ Meeting 2013 elected the 6th
Session Board of Directors and the 6th Session Board of Supervisors.
Index to the relevant announcement
Overview of the significant event Date of disclosure
disclosed on the website
Announcement of Resolutions of the 20th Meeting
Sept. 25, 2013 http://www.cninfo.com.cn
of the 5th Board of Directors
Announcement of Resolutions of the 15th Meeting
Sept. 25, 2013 http://www.cninfo.com.cn
of the 5th Board of Directors
Announcement of Election of the Employee
Representative Supervisor of the 6th Board of Oct. 8, 2013 http://www.cninfo.com.cn
Supervisors
Announcement of Resolutions of the 1st
Oct. 11, 2013 http://www.cninfo.com.cn
Extraordinary Shareholders’ Meeting 2013
III. Commitments of the Company or shareholders holding more than 5% shares of the
Company made in or carried down into the report period
Commitment Time of making Period of
Commitment Contents Fulfillment
maker commitment commitment
Commitment on share reform - - - - -
Commitment in the acquisition report or
- - - - -
the report on equity changes
Commitments made in assets
- - - - -
reorganization
Commitments made in IPO or refinancing - - - - -
Other commitments made to minority
- - - - -
shareholders
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2013 Quarterly Three Report of Wuhan Boiler Company Limited
IV. Forecast for 2013 annual operating results
Warnings of possible loss or considerable year-on-year change of the accumulated net profit made during the
period from the beginning of the year to the end of the next report period according to forecast, as well as
explanations on the reasons
□Applicable √Inapplicable
V. Securities investment
□ Applicable √ Inapplicable
Shareholdings in other listed companies:
□ Applicable √ Inapplicable
VI. Derivatives investment
Unit: RMB Ten thousand
Proportion
of the
closing
Related Actual
Type of Initial Opening Impairment Closing investment
party Beginning gain/loss in
Operator Relation derivatives investment Ending date investment provision investment amount in
transaction date report
investment amount amount (if any) amount the
or not period
Company’s
closing net
assets (%)
Forward FX
BNP Non-Relation No 4,866.4 2011-8-18 2013-4-2 4,866.4 0% 45.13
contract
Forward FX
HSBC Non-Relation No 26,468.19 2013-4-24 2014-5-27 26,468.19 1,253.16 0.96% 104.61
contract
Forward FX
SCB Non-Relation No 27,637.98 2012-3-29 2014-5-21 27,637.98 3,949.3 3.02% 137.72
contract
Total 58,972.57 -- -- 58,972.57 0 5,202.46 3.98% 287.46
Capital source for derivatives investment Self-funded
Announcement disclosure date of the Board
October 29, 2013
approval of derivatives investment (if any)
The foreign exchange trading for hedging purpose made by WBC in order to prevent exchange rate risk
is based on reasonable estimation and current need for foreign exchange payment and collection. The
business process is compliant with laws and regulations. There is almost no market risk, no performance
Independent Directors’ opinions on derivatives
risk and no impact on liquidity of WBC. WBC has established organization, business procedures,
investment and risk control
approval process and Internal Control Rules on Derivatives Investment for foreign exchange trading. We
think WBC can improve foreign exchange risk management and prevent exchange rate risk through
derivatives investment business. It is feasible for WBC to make derivatives investment for hedging
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2013 Quarterly Three Report of Wuhan Boiler Company Limited
purpose and the risk is controllable. We agree that WBC to make derivatives investment for hedging
purpose.
VII. Researches, communication, interviews received in this report period
Time of Place of Way of Main discussion and materials
Visitor type Visitor
reception reception reception provided by the Company
What’s 2013 annual operating
Jul. 30, 2013 Wuhan By phone Individual 1 shareholder with tradable shares
result?
What’s 2013 annual operating
Aug. 26, 2013 Wuhan By phone Individual 1 shareholder with tradable shares result? Will the stock of the
Company be delisted?
Why did Shenzhen Stock Exchange
Sept. 5, 2013 Wuhan By phone Individual 1 shareholder with tradable shares
issue a public notice of criticism?
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2013 Quarterly Three Report of Wuhan Boiler Company Limited
Section IV. Financial Statements
I. Financial statements
1. Consolidated balance sheet
Prepared by Wuhan Boiler Company Limited
Unit: RMB Yuan
Item Closing balance Opening balance
Current assets:
Monetary funds 29,921,627.34 133,682,569.38
Deposit reservation for balance
Outgoing call loans
Trading financial assets
Notes receivable 42,700,000.00 16,778,857.08
Accounts receivable 133,681,654.35 231,207,704.44
Prepayment 68,908,635.32 117,776,137.51
Insurance receivables
Reinsurance receivables
Provision of reinsurance contract
reserve receivable
Interest receivable
Dividend receivable
Other receivables 78,172,380.52 90,356,030.52
Financial assets purchased under
agreement to resell
Inventories 130,622,586.40 143,098,165.73
Non-current assets due within 1-year
Other current assets
Total current assets 484,006,883.93 732,899,464.66
Non-current assets ：
Loan and payment on other’s behalf
disbursed
Available-for-sale financial assets
Investment held to maturity
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2013 Quarterly Three Report of Wuhan Boiler Company Limited
Long-term receivables
Long-term equity investment
Investment property
Fixed assets 713,918,300.84 741,586,739.40
Construction in progress 2,238,512.07 1,562,224.98
Engineering materials
Disposal of fixed assets
Production biological assets
Oil-gas assets
Intangible assets 75,349,424.76 79,968,814.31
R&D expenses
Goodwill
Long-term deferred expenses
Deferred income tax assets 53,630,149.79 57,549,250.74
Other non-current assets 9,810,557.57
Total non-current assets 845,136,387.46 890,477,587.00
Total assets 1,329,143,271.39 1,623,377,051.66
Current liabilities:
Short-term loans 1,704,400,000.00 1,705,000,000.00
Loans from central bank
Deposits received and held for others
Call loans received
Held-for-trading financial liabilities
Notes payable 28,700,000.00 42,532,000.00
Accounts payable 176,814,345.24 285,438,535.15
Advance from customers 661,708,689.29 796,939,508.66
Financial assets sold under
agreements to repurchase
Fees and commissions payable
Payroll payable 44,032,179.18 53,438,610.86
Taxes payable -34,308,779.84 -94,610,129.10
Interest payable 6,609,242.00 2,442,575.34
dividend payable 562,000.00 562,000.00
Other payables 38,681,403.13 60,502,521.10
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2013 Quarterly Three Report of Wuhan Boiler Company Limited
Amount due to reinsurance
Insurance contract provision
Entrusted trading of securities
Amount payable under security
underwriting
Non-current liabilities due within
1-year
Other current liabilities
Total current liabilities: 2,627,199,079.00 2,852,245,622.01
Non-current liabilities:
Long-term loans
Bonds payable
Long-term payables
Specific payables
Provision for liabilities
Deferred income tax liabilities
Other non-current liabilities 5,985,663.97 12,640,416.40
Total non-current liabilities : 5,985,663.97 12,640,416.40
Total liabilities 2,633,184,742.97 2,864,886,038.41
Owners’ equity (or shareholders’
equity)
Paid-in capital (or share capital) 297,000,000.00 297,000,000.00
Capital reserve 174,659,407.46 174,659,407.46
Less ： Treasury Stock
Specific reserve
Surplus reserve 39,418,356.83 39,418,356.83
General risk provision
Retained earnings -1,816,830,410.28 -1,754,297,302.26
Foreign exchange difference
Total owners’ equity attributable to
-1,305,752,645.99 -1,243,219,537.97
the Company
Minority interests 1,711,174.41 1,710,551.22
Total owners’ (or shareholders’) equity -1,304,041,471.58 -1,241,508,986.75
Total liabilities & owners’ (or
1,329,143,271.39 1,623,377,051.66
shareholders’) equity
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2013 Quarterly Three Report of Wuhan Boiler Company Limited
Legal representative: YEUNG Kwok Wei Richard CFO: CHIN Wee Hua Accounting manager: LI Yihao
2. Balance sheet of the Company
Prepared by Wuhan Boiler Company Limited
Unit: RMB Yuan
Item Closing balance Opening balance
Current assets:
Monetary funds 28,362,434.30 132,147,573.37
Trading financial assets
Notes receivable 42,700,000.00 16,778,857.08
Accounts receivable 133,048,054.35 229,913,768.78
Prepayment 68,908,635.32 117,776,137.51
Interest receivable
Dividend receivable
Other receivables 78,487,668.34 90,643,677.76
Inventories 130,622,586.40 143,098,165.73
Non-current assets due within 1-year
Other current assets
Total current assets 482,129,378.71 730,358,180.23
Non-current assets ：
Available-for-sale financial assets
Investment held to maturity
Long-term receivables
Long-term equity investment 24,984,500.00 24,984,500.00
Investment property
Fixed assets 714,075,277.83 741,743,716.39
Construction in progress 2,238,512.07 1,562,224.98
Engineering materials
Disposal of fixed assets
Production biological assets
Oil-gas assets
Intangible assets 75,349,424.76 79,968,814.31
R&D expenses
Goodwill
Long-term deferred expenses
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2013 Quarterly Three Report of Wuhan Boiler Company Limited
Deferred income tax assets 53,630,149.79 57,549,250.74
Other non-current assets 9,810,557.57
Total non-current assets 870,277,864.45 915,619,063.99
Total assets 1,352,407,243.16 1,645,977,244.22
Current liabilities:
Short-term loans 1,704,400,000.00 1,705,000,000.00
Trading financial liabilities
Notes payable 28,700,000.00 42,532,000.00
Accounts payable 177,250,345.24 285,874,535.15
Advance from customers 661,708,689.29 796,939,508.66
Payroll payable 43,862,583.20 53,269,014.88
Taxes payable -34,308,779.84 -94,610,129.10
Interest payable 6,609,242.00 2,442,575.34
dividend payable
Other payables 76,358,222.39 97,502,473.86
Non-current liabilities due within
1-year
Other current liabilities
Total current liabilities: 2,664,580,302.28 2,888,949,978.79
Non-current liabilities:
Long-term loans
Bonds payable
Long-term payables
Specific payables
Provision for liabilities
Deferred income tax liabilities
Other non-current liabilities 5,985,663.97 12,640,416.40
Total non-current liabilities : 5,985,663.97 12,640,416.40
Total liabilities 2,670,565,966.25 2,901,590,395.19
Owners’ equity (or shareholders’
equity)
Paid-in capital (or share capital) 297,000,000.00 297,000,000.00
Capital reserve 174,854,304.12 174,854,304.12
Less ： Treasury Stock
Specific reserve
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2013 Quarterly Three Report of Wuhan Boiler Company Limited
Surplus reserve 39,418,356.83 39,418,356.83
Preparation for ordinary risks
Retained earnings -1,829,431,384.04 -1,766,885,811.92
Foreign exchange difference
Total owners’ (or shareholders’) equity -1,318,158,723.09 -1,255,613,150.97
Total liabilities & owners’ (or
1,352,407,243.16 1,645,977,244.22
shareholders’) equity
Legal representative: YEUNG Kwok Wei Richard CFO: CHIN Wee Hua Accounting manager: LI Yihao
3. Consolidated income statement for the report period
Prepared by Wuhan Boiler Company Limited
Unit: RMB Yuan
Item Jul.-Sept. 2013 Jul.-Sept. 2012
I. Total sales 183,758,384.36 163,869,332.86
Including: Sales 183,758,384.36 163,869,332.86
Interest income
Earned Premium
Commissions and fees income
II. Total cost of sales 209,619,512.78 189,675,185.02
Including: Cost of sales 175,851,418.41 207,020,107.42
Interest expense
Commissions and fees
Cash surrender value
Claim expenses-net
Provision for insurance contract reserves-net
Insurance policy dividend paid
Reinsurance expense
Business taxes and surcharges
Distribution expenses 3,661,096.90 3,187,461.67
Administrative expenses 7,908,532.97 5,914,764.69
Financial costs 26,914,163.56 24,642,576.15
Impairment loss -4,715,699.06 -51,089,724.91
Add: gain/(loss) from change in fair value (“-” means
455,805.09 -3,693,629.10
loss)
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2013 Quarterly Three Report of Wuhan Boiler Company Limited
Gain/(loss) from investment (“-” means loss)
Including: income from investment on associates and
joint ventures
Foreign exchange difference (“-” means loss)
III. Business profit (“-” means loss) -25,405,323.33 -29,499,481.26
Add: non-business income 145,022.03 551,481.74
Less: non-business expense 10,175.34
Including: loss from non-current asset disposal
IV. Total profit (“-” means loss) -25,270,476.64 -28,947,999.52
Less: income tax expense 815,726.56 2,748,718.99
V. Net profit (“-” means loss) -26,086,203.20 -31,696,718.51
Including: net profit achieved by the merged parties
before business mergers
Attributable to owners of the Company -26,094,844.19 -31,685,662.71
Minority shareholders’ income 8,640.99 -11,055.80
VI. Earnings per share -- --
(I) Basic earnings per share -0.09 -0.11
(II) Diluted earnings per share -0.09 -0.11
VII. Other comprehensive income
VIII. Total comprehensive income -26,086,203.20 -31,696,718.51
Attributable to owners of the Company -26,094,844.19 -31,685,662.71
Attributable to minority shareholders 8,640.99 -11,055.80
Legal representative: YEUNG Kwok Wei Richard CFO: CHIN Wee Hua Accounting manager: LI Yihao
4. Income statement of the Company for the report period
Prepared by Wuhan Boiler Company Limited
Unit: RMB Yuan
Item Jul.-Sept. 2013 Jul.-Sept. 2012
I. Total sales 183,758,384.36 163,869,332.86
Less: Cost of sales 175,851,418.41 207,020,107.42
Business taxes and surcharges
Distribution expenses 3,661,096.90 3,187,461.67
Administrative expenses 7,878,944.85 5,889,068.79
Financial costs 26,915,666.14 24,644,058.55
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2013 Quarterly Three Report of Wuhan Boiler Company Limited
Impairment loss -4,509,699.06 -51,286,627.31
Add: gain/(loss) from change in fair value (“-”
455,805.09 -3,693,629.10
means loss)
Gain/(loss) from investment (“-” means loss)
Including: income from investment on associates
and joint ventures
Ⅱ . Business profit (“-” means loss) -25,583,237.79 -29,278,365.36
Add: non-business income 145,022.03 551,481.74
Less: non-business expense 5,081.00
Including: loss from non-current asset disposal
Ⅲ . Total profit (“-” means loss) -25,443,296.76 -28,726,883.62
Less: income tax expense 815,726.56 2,748,718.99
Ⅳ . Net profit (“-” means loss) -26,259,023.32 -31,475,602.61
Ⅴ . Earnings per share -- --
(I) Basic earnings per share -0.09 -0.11
(II) Diluted earnings per share -0.09 -0.11
VII. Other comprehensive income
VIII. Total comprehensive income -26,259,023.32 -31,475,602.61
Legal representative: YEUNG Kwok Wei Richard CFO: CHIN Wee Hua Accounting manager: LI Yihao
5. Consolidated income statement for Jan.-Sept. 2013
Prepared by Wuhan Boiler Company Limited
Unit: RMB Yuan
Item Jan.-Sept. 2013 Jan.-Sept. 2012
I. Total sales 646,039,491.11 540,447,035.16
Including: Sales 646,039,491.11 540,447,035.16
Interest income
Premium income
Handling charges and commission
income
II. Total cost of sales 705,541,287.04 567,794,109.91
Including: Cost of sales 625,391,472.31 511,246,579.34
Interest expenses
Service charge and commission income
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2013 Quarterly Three Report of Wuhan Boiler Company Limited
Cash surrender value
Claim expenses-net
Provision for insurance contract
reserves-net
Insurance policy dividend paid
Reinsurance expense
Business taxes and surcharges 1,130.00
Distribution expenses 10,121,944.10 6,935,773.77
Administrative expenses 20,968,024.67 14,958,965.66
Financial costs 67,114,356.66 81,016,851.27
Impairment loss -18,054,510.70 -46,365,190.13
Add: gain/(loss) from change in fair
-2,091,490.37 -842,943.74
value (“-” means loss)
Gain/(loss) from investment (“-” means
loss)
Including: income from investment on
associates and joint ventures
Foreign exchange difference (“-” means
loss)
III. Business profit (“-” means loss) -61,593,286.30 -28,190,018.49
Add: non-business income 3,058,188.78 1,972,106.35
Less: non-business expense 78,909.55 9,786.32
Including: loss from non-current asset
67,734.21 1,786.32
disposal
IV. Total profit (“-” means loss) -58,614,007.07 -26,227,698.46
Less: income tax expense 3,919,100.95 30,428,273.94
V. Net profit (“-” means loss) -62,533,108.02 -56,655,972.40
Including: net profit achieved by the
merged parties before business mergers
Attributable to owners of the Company -62,533,731.21 -56,069,252.21
Minority interest income 623.19 -586,720.19
VI. Earnings per share -- --
(I) Basic earnings per share -0.21 -0.19
(II) Diluted earnings per share -0.21 -0.19
VII. Other comprehensive income
VIII. Total comprehensive income -62,533,108.02 -56,655,972.40
18
2013 Quarterly Three Report of Wuhan Boiler Company Limited
Attributable to owners of the
-62,533,731.21 -56,069,252.21
Company
Attributable to minority
623.19 -586,720.19
shareholders
Legal representative: YEUNG Kwok Wei Richard CFO: CHIN Wee Hua Accounting manager: LI Yihao
6. Income statement of the Company for Jan.-Sept. 2013
Prepared by Wuhan Boiler Company Limited
Unit: RMB Yuan
Item Jan.-Sept. 2013 Jan.-Sept. 2012
I. Total sales 646,039,491.11 540,447,035.16
Less: cost of sales 625,391,472.31 511,246,579.34
Business taxes and surcharges 1,130.00
Distribution expenses 10,121,944.10 6,935,773.77
Administrative expenses 20,931,721.74 14,917,491.76
Financial costs 67,118,553.69 81,021,719.19
Impairment loss -18,004,846.36 -46,715,432.79
Add: gain/(loss) from change in fair
-2,091,490.37 -842,943.74
value (“-” means loss)
Gain/(loss) from investment (“-” means
-14,249,787.13
loss)
Including: income from investment on
associates and joint ventures
II. Business profit (“-” means loss) -61,610,844.74 -42,052,956.98
Add: non-business income 3,058,188.78 7,851,312.91
Less: non-business expense 73,815.21 1,786.32
Including: loss from non-current asset
67,734.21 1,786.32
disposal
III. Total profit (“-” means loss) -58,626,471.17 -34,203,430.39
Less: income tax expense 3,919,100.95 30,428,273.94
IV. Net profit (“-” means loss) -62,545,572.12 -64,631,704.33
V. Earnings per share -- --
(I) Basic earnings per share -0.21 -0.22
(II) Diluted earnings per share -0.21 -0.22
VI. Other comprehensive income
19
2013 Quarterly Three Report of Wuhan Boiler Company Limited
VII. Total comprehensive income -62,545,572.12 -64,631,704.33
Legal representative: YEUNG Kwok Wei Richard CFO: CHIN Wee Hua Accounting manager: LI Yihao
7. Consolidated cash flow statement for Jan.-Sept. 2013
Prepared by Wuhan Boiler Company Limited
Unit: RMB Yuan
Item Jan.-Sept. 2013 Jan.-Sept. 2012
1. Cash flows from operating activities
Cash received from sales of goods
450,824,601.80 530,231,907.75
or rending of services
Net increase of deposits received
and held for others
Net increase of loans from central
bank
Net increase of inter-bank loans
from other financial institutions
Cash received against original
insurance contracts
Cash received from reinsurance
Net increase of client deposit and
investment
Net increase of disposal of
held-for-trading financial assets
Cash received as interest, fees and
commissions
Net increase of inter-bank fund
received
Net increase of cash received
under repurchasing
Tax returned 83,030,580.43
Other cash received from operating
2,080,000.00 948,122.46
activities
Sub-total of cash inflow from
535,935,182.23 531,180,030.21
operating activities
Cash paid for goods and services 372,087,519.59 200,613,091.99
Net increase of loans and advances
20
2013 Quarterly Three Report of Wuhan Boiler Company Limited
Net increase of deposit in central
bank, banks and other financial
institutions
Cash paid for original contract
claim
Cash paid for interest, fees and
commissions
Cash paid for policy dividend
Cash paid to and for employees 126,584,746.39 122,376,198.82
Cash paid for all types of taxes 6,245,378.10 15,979,550.03
Other cash paid relating to
50,824,661.14 62,522,941.16
operating activities
Sub-total of cash outflows from
555,742,305.22 401,491,782.00
operating activities
Net cash flows from operating
-19,807,122.99 129,688,248.21
activities
2. Cash flows from investing activities
Cash received from retraction of
investment
Cash received from investment
income
Net cash received from disposal of
fixed assets, intangible assets and other 564,650.00 11,000.00
long-term assets
Net cash received from disposal of
subsidiaries and other operating units
Other cash received relating to
192,335.43 107,137.86
investing activities
Sub-total of cash inflows of
756,985.43 118,137.86
investing activities
Cash paid for acquisition of fixed
assets, intangible assets and other 16,855,476.65 19,569,868.26
long-term assets
Cash paid for acquisition of
investments
Net increase of pledge loans
Net cash paid for acquisition of
subsidiaries and other operating units
21
2013 Quarterly Three Report of Wuhan Boiler Company Limited
Other cash paid relating to
451,467.95 298,006.64
investing activities
Sub-total of cash outflows of
17,306,944.60 19,867,874.90
investing activities
Net cash flow from investing
-16,549,959.17 -19,749,737.04
activities
3. Cash flows from financing activities
Cash received from investment
Including: cash received from
minority shareholders of subsidiaries
Cash received from borrowings 862,000,000.00 513,000,000.00
Cash received from bonds issuing
Other cash received relating to
financing activities
Sub-total of cash inflows of
862,000,000.00 513,000,000.00
financing activities
Cash paid for repayment of
862,600,000.00 561,000,000.00
borrowings
Cash paid for dividends, profit
64,339,050.00 69,312,745.50
distribution or interest
Including: dividends or profits paid
to minority shareholders by subsidiaries
Other cash paid relating to
financing activities
Sub-total of cash outflows of
926,939,050.00 630,312,745.50
financing activities
Net cash flow from financing
-64,939,050.00 -117,312,745.50
activities
4. Effect of foreign exchange rate
-1,684,965.68 -6,963,458.65
changes on cash and cash equivalents
5. Net increase in cash and cash
-102,981,097.84 -14,337,692.98
equivalents
Add: cash and cash equivalents at
131,071,052.35 20,388,030.03
the beginning of this period
6. Cash and cash equivalents at the end
28,089,954.51 6,050,337.05
of this period
Legal representative: YEUNG Kwok Wei Richard CFO: CHIN Wee Hua Accounting manager: LI Yihao
22
2013 Quarterly Three Report of Wuhan Boiler Company Limited
8. Cash flow statement of the Company for Jan.-Sept. 2013
Prepared by Wuhan Boiler Company Limited
Unit: RMB Yuan
Item Jan.-Sept. 2013 Jan.-Sept. 2012
1. Cash flows from operating activities
Cash received from sales of goods
450,804,601.80 530,141,907.75
or rending of services
Tax returned 83,030,580.43
Other cash received from operating
2,080,000.00 948,122.46
activities
Sub-total of cash inflow from
535,915,182.23 531,090,030.21
operating activities
Cash paid for goods and services 372,087,519.59 200,613,091.99
Cash paid to and for employees 126,584,746.39 122,376,198.82
Cash paid for all types of taxes 6,245,378.10 15,979,550.03
Other cash paid relating to
50,824,661.14 62,522,941.16
operating activities
Sub-total of cash outflows from
555,742,305.22 401,491,782.00
operating activities
Net cash flows from operating
-19,827,122.99 129,598,248.21
activities
2. Cash flows from investing activities
Cash received from retraction of
investment
Cash received from investment
income
Net cash received from disposal of
fixed assets, intangible assets and other 564,650.00 11,000.00
long-term assets
Net cash received from disposal of
subsidiaries and other operating units
Other cash received relating to
187,804.40 101,949.94
investing activities
Sub-total of cash inflows of
752,454.40 112,949.94
investing activities
Cash paid for acquisition of fixed
assets, intangible assets and other 16,855,476.65 19,569,868.26
long-term assets
23
2013 Quarterly Three Report of Wuhan Boiler Company Limited
Cash paid for acquisition of
investments
Net cash paid for acquisition of
subsidiaries and other operating units
Other cash paid relating to
451,133.95 297,686.64
investing activities
Sub-total of cash outflows of
17,306,610.60 19,867,554.90
investing activities
Net cash flow from investing
-16,554,156.20 -19,754,604.96
activities
3. Cash flows from financing activities
Cash received from investment
Cash received from borrowings 862,000,000.00 513,000,000.00
Cash received from issuing bonds
Other cash received relating to
financing activities
Sub-total of cash inflows of
862,000,000.00 513,000,000.00
financing activities
Cash paid for repayment of
862,600,000.00 561,000,000.00
borrowings
Cash paid for dividends, profit
64,339,050.00 69,312,745.50
distribution or interest
Other cash paid relating to
financing activities
Sub-total of cash outflows of
926,939,050.00 630,312,745.50
financing activities
Net cash flow from financing
-64,939,050.00 -117,312,745.50
activities
4. Effect of foreign exchange rate
-1,684,965.68 -6,963,458.65
changes on cash and cash equivalents
5. Net increase in cash and cash
-103,005,294.87 -14,432,560.90
equivalents
Add: cash and cash equivalents at
129,536,056.34 18,949,394.34
the beginning of this period
6. Cash and cash equivalents at the end
26,530,761.47 4,516,833.44
of this period
Legal representative: YEUNG Kwok Wei Richard CFO: CHIN Wee Hua Accounting manager: LI Yihao
24
2013 Quarterly Three Report of Wuhan Boiler Company Limited
II. Audit report
Is this report audited?
□ Yes √ No
25
