Bengang Steel Plates Co., Ltd. The 3rd Quarterly Report 2015 (Full Text)
Bengang Steel Plates Co., Ltd.
The 3rd Quarterly Report 2015
Oct 2015
1
Bengang Steel Plates Co., Ltd. The 3rd Quarterly Report 2015 (Full Text)
Chapter I. Important Statement
The Board of Directors and the directors of the Company guarantee that there are no significant omissions,
fictitious or misleading statements carried in the Report and we will accept individual and joint responsibilities for
the truthfulness, accuracy and completeness of the Report.
All of the directors presented the board meeting at which this Quarterly Report was examined.
Mr. Zhao Zhongmin – the responsible person of the Company, Mr. Han Ge – the CFO, and Mr. Wang Shaoyu –
the accounting manager declares: the truthfulness, accuracy, and completeness of the financial report in the
Interim Report are guaranteed.
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Bengang Steel Plates Co., Ltd. The 3rd Quarterly Report 2015 (Full Text)
Chapter II. Financial Highlights and Change of Shareholders
I. Main accounting data and indices
Are there any retrospective adjustment or restatement of financial information of previous year due to change of accounting policies
or correcting of accounting errors?
[] Yes [V] No
Changed at end of report
Ended this report
End of prev. year period over end of previous
term
period
Gross Assets (RMB) 45,735,815,282.91 49,170,603,030.67 -6.99%
Net asset attributable to owners of
15,398,723,790.45 15,384,562,323.08 0.09%
the PLC
The amount of from
From beginning of year beginning of year to the end
Increase/decrease
This report term to the end of report of report period over the
(%)
period amount of same period last
year
Turnover (RMB) 5,018,448,900.24 -51.67% 21,363,364,061.42 -29.25%
Net profit attributable to
shareholders of the listed company 35,104,914.65 25.75% 163,112,050.91 -19.18%
(yuan)
Net profit attributable to the
shareholders of the listed company
35,098,170.03 91.28% 140,379,428.78 -17.97%
and after deducting of non-recurring
gain/loss(RMB)
Net Cash flow generated by
-- -- -1,400,113,945.93 -495.11%
business operation (RMB)
Basic earnings per share
0.011 22.22% 0.052 -18.75%
(Yuan/share)
Diluted earnings per share
0.011 22.22% 0.052 -18.75%
(Yuan/share)
Net income on asset, weighted 0.23% 0.05% 1.06% -0.22%
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Bengang Steel Plates Co., Ltd. The 3rd Quarterly Report 2015 (Full Text)
Non-recurring gain/loss items and amounts
[V] Applicable [ ]Not applicable
In RMB Yuan
Amount of the period from the
Items beginning of year to the end of Remarks
report term
Gain/loss from disposal of non-current assets (includes the recovered part of asset
-13,599,930.68
impairment provision already provided)
Gains and losses included in the current period of government subsidies, excluding
those government grants which are closely related to normal business and in line with 37,242,000.00
national policy , or in accordance with fixed standards or quantities
Gain/loss from commissioned investment or assets 7,226,589.08
Gain/loss from debt reorganization 8,577,805.60
Other non-business income and expenditures other than the above -11,464,755.98
Less: Influenced amount of income tax 5,188,779.73
Influence on minority shareholders equity (after tax) 60,306.16
Total 22,732,622.13 --
If the company defines those items to recurring gain/loss items, which were defined by “Regulations of Information Disclosure of
PLCs, Explanation No.1 - Non-recurring gain/loss” as non-recurring gain/loss, please provide reason here.
[] Applicable; [V] Not applicable
None of non-recurring gain/loss items recognized as recurring gain/loss items as defined by the Information Disclosure Explanatory
Announcement No.1 – Non-recurring gain/loss in the report period.
II. Total of shareholders and top-10 holders of current shares at end of period
1 Position of shareholders and top-10 holders at end of the report period
in shares
Total common shareholders at the end of the
66,748
report period
Top 10 common share holders
Amount of Frozen or pledged
Properties of Share Amount of
Name of the shareholder unconditional
shareholder proportion % shares Status of shares Amount
shares held
State-owned
Benxi Steel (Group) Ltd. 78.34% 2,456,614,978 0
legal person
Overseas
GIC PRIVATE LIMITED 0.72% 22,644,061 0
legal person
BBH A/C VANGUARD
EMERGING MARKETS Others 0.26% 8,157,311 0
STOCK INDEX FUND
GSIC A/C MONETARY
AUTHORITY OF Others 0.19% 5,967,126 0
SINGAPORE
DEUTSCHE CHINA
Others 0.15% 4,549,984 0
EQUITY FUND
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Bengang Steel Plates Co., Ltd. The 3rd Quarterly Report 2015 (Full Text)
Overseas
Zhan Changcheng 0.14% 4,356,715 0
legal person
VANGUARD TOTAL
INTERNATIONAL STOCK Others 10.00% 3,176,272 0
INDEX FUND
Taifook Securities Company Overseas
0.10% 3,141,109 0
Limited-Account Client legal person
STATE STREET ACTIVE
EMERGING MARKETS
SELECT SECURITIES Others 0.09% 2,887,600 0
LENDING QIB COMMON
TRUST FUND
Overseas
Bao Xinfa 0.09% 2,700,000 0
legal person
Top 10 Holders of Unrestricted Shares
Category of shares
Name of the shareholder Number of unrestricted shares held Category of
Amount
shares
RMB common
Benxi Steel (Group) Ltd. 2,456,614,978 2,456,614,978
shares
Foreign shares
placed in
GIC PRIVATE LIMITED 22,644,061 22,644,061
domestic
exchange
Foreign shares
BBH A/C VANGUARD EMERGING placed in
8,157,311 8,157,311
MARKETS STOCK INDEX FUND domestic
exchange
Foreign shares
GSIC A/C MONETARY AUTHORITY OF placed in
5,967,126 5,967,126
SINGAPORE domestic
exchange
Foreign shares
placed in
DEUTSCHE CHINA EQUITY FUND 4,549,984 4,549,984
domestic
exchange
Foreign shares
placed in
Zhan Changcheng 4,356,715 4,356,715
domestic
exchange
Foreign shares
VANGUARD TOTAL INTERNATIONAL placed in
3,176,272 3,176,272
STOCK INDEX FUND domestic
exchange
Foreign shares
Taifook Securities Company placed in
3,141,109 3,141,109
Limited-Account Client domestic
exchange
Foreign shares
STATE STREET ACTIVE EMERGING
placed in
MARKETS SELECT SECURITIES 2,887,600 2,887,600
domestic
LENDING QIB COMMON TRUST FUND
exchange
Foreign shares
placed in
Bao Xinfa 2,700,000 2,700,000
domestic
exchange
It is unknown to the Company whether there is any related connection or Action in
Notes to relationship or “action in concert”
Concert as described by Rules of Information Disclosing Regarding Changing of
among the top ten shareholders. Shareholding Status of Listed Companies existing among the above shareholders.
Whether there was any repurchasing deal made between any of the top 10 shareholders and top 10 holders of unrestricted shares in
the report period
[] Yes [V] No
There was not any repurchasing deal made between any of the top 10 shareholders and top 10 holders of unrestricted shares in the
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Bengang Steel Plates Co., Ltd. The 3rd Quarterly Report 2015 (Full Text)
report period
2 Total of shareholders and top-10 preferential shareholders at end of the report period
[] Applicable; [V] Not applicable
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Bengang Steel Plates Co., Ltd. The 3rd Quarterly Report 2015 (Full Text)
Chapter III. Significant Issues
I. Particulars and causations of material change in major accounting items and indices
[V] Applicable []Not applicable
* Items changed by over 30% comparing with that of at the end of 2014 in the consolidated accounts, and causations
I. Items in the balance sheet Changed by Causation of change
Monetary capital -62% Increase of loan repaying and trade accounts
Construction in process 31% Increase of investment in high-strength steel project
Construction material -95% Increase of construction material delivered
Notes payable 41% Increase of financing by notes
Wages payable 66% Increase of bonus payable
Tax payable -36% Decrease of VAT and property tax payable
Interest payable 113% Increase of interest for unpaid corporation bond
Non-recurring liabilities due in 1 year 35% Increase of long-term loans transferred to accounts due in 1 year
Special provisions 1822% Decrease of safety fee paid
* Items changed by over 30% comparing with that of Jan - Sept 2014 in the consolidated accounts, and causations
II. Items under income statement Changed by Causation of change
Operational tax and surcharges -64% Decrease of VAT payable
Sales expense 34% Increase of external railway freight
Administration expenses -37% Transferring of rental for 2300 rolling line to cost account
Financial expenses 38% Increase of gain/loss from exchange
Asset impairment loss 90% Increase of provision for inventory devalue
Investment gains -65% Decrease of bank financing instruments purchased
Non-operational income 312% Increase of government subsidy received
Non-operational expenses 45866% Increase of loss from disposal of fixed assets
Income tax expense -96% Decrease of deferred income tax expenses
III. Items under cash flow statement Changed by Causation of change
Tax returned 861% Increase of tax refunding
Cash flow generated by business -495% Increase of cash paid for purchasing of goods and services
operation, net
Cash received from investment retrieving -79% Decrease of bank financing instruments purchased
Cash received as investment profit -65% Decrease of bank financing instruments purchased
Net cash retrieved from disposal of fixed 4791% Increase of cash received from disposal of fixed assets
assets, intangible assets, and other
long-term assets
Cash inflow from investment -79% Decrease of bank financing instruments purchased
Cash paid for purchasing or construction 60% Increase of projects such as the high-strength steel project
of fixed assets, intangible assets, and
other long-term assets
Cash paid as investment -77% Decrease of bank financing instruments purchased
Cash outflow by investment -58% Decrease of bank financing instruments purchased
Cash to repay debts 54% Increase of loan repayment
Net cash flow generated by financing -248% Increase of loan repayment
II. Analyze of significant issues and solutions
[] Applicable; [V] Not applicable
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Bengang Steel Plates Co., Ltd. The 3rd Quarterly Report 2015 (Full Text)
III. Commitment issues of shareholders with 5% or over of shares occurred in the report
period or carried down from previous report periods
[] Applicable; [V] Not applicable
No commitment issues by shareholders with 5% or over of shares in the report period or carried over to the report period from
previous periods
IV. Prospect on business performance of 2015
Alert of loss or significant change in net profit from the beginning of year to the end of next report period or comparing with the
same period of last year, and statement of causations.
[] Applicable; [V] Not applicable
V. Securities investment
[] Applicable; [V] Not applicable
No securities investment in the report period.
VI. Statement on holding of other PLCs’ shares
[] Applicable; [V] Not applicable
The Company was not holding shares of any other PLC as of the end of report period.
VII. Investment on derivate instruments
[] Applicable; [V] Not applicable
No derivate instrument investment in the report period.
VIII. Reception of investigations, communications, or interviews
[V] Applicable []Not applicable
Main content involved and
Time/date Place Way Type of visitors Visitors
material provided
Zhongzhou Future
Bengang Jinshan
Aug 27 2015 Field research Institute Co., Ltd. Zhongcai Business operation
Hotel
Future Co., Ltd.
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Bengang Steel Plates Co., Ltd. The 3rd Quarterly Report 2015 (Full Text)
Chapter IV. Financial Statements
I. Financial Statements
1. Consolidated Balance Sheet
Bengang Steel Plate Co., Ltd.
In RMB Yuan
Items Closing balance Opening balance
Current asset:
Monetary capital 3,742,891,429.38 9,792,940,409.40
Settlement provision
Outgoing call loan
Financial assets accounted at fair value and fluctuation accounted into current income
Deductive financial assets
Notes receivable 1,775,510,647.83 2,089,039,261.13
Account receivable 492,383,200.73 487,767,042.22
Prepayment 1,337,889,632.13 1,236,314,004.73
Insurance receivable
Reinsurance receivable
Provisions of Reinsurance contracts receivable
Interest receivable 7,011,095.89
Dividend receivable
Other account receivable 255,938,371.30 257,708,098.03
Repurchasing of financial assets
Inventories 12,575,790,397.12 11,008,413,817.92
Categorized as asset hold for sale
Non-current asset due in 1 year
Other current asset 398,714,018.90 457,504,509.43
Total of current asset 20,579,117,697.39 25,336,698,238.75
Non-current assets
Loans and payment on other’s behalf disbursed
Sellable financial asset 20,271,278.63 20,271,278.63
Expired investment in possess
Long-term receivable
Long-term share equity investment
Investment real estates
Fixed assets 16,644,706,403.44 17,144,282,253.99
Construction in process 8,021,397,431.49 6,126,175,722.67
Engineering goods 4,400,166.30 90,221,101.46
Fixed asset disposal
Production physical assets
Gas & petrol
Intangible assets 267,005,676.87 271,459,969.75
R&D expense
Goodwill
Long-term amortizable expenses
Deferred income tax asset 198,916,628.79 181,494,465.42
Other non-current asset
Total of non-current assets 25,156,697,585.52 23,833,904,791.92
Total of assets 45,735,815,282.91 49,170,603,030.67
Current liabilities
Short-term loans 14,826,172,044.44 18,187,945,675.93
Loan from Central Bank
Deposit received and hold for others
Call loan received
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Bengang Steel Plates Co., Ltd. The 3rd Quarterly Report 2015 (Full Text)
Financial liabilities booked as current gain/loss at fair value
Deductive financial liability
Notes payable 1,162,539,292.37 822,581,591.46
Account payable 6,823,330,952.53 8,780,948,804.18
Advances received 2,797,254,771.23 3,144,418,091.52
Selling of repurchased financial assets
Fees and commissions receivable
Employees’ wage payable 58,623,433.87 35,383,951.55
Tax payable 20,664,623.02 32,323,181.76
Interest payable 57,466,314.93 26,935,067.99
Dividend payable
Other account payable 408,241,587.79 469,316,015.83
Reinsurance fee payable
Insurance contract provision
Entrusted trading of securities
Entrusted selling of securities
Liabilities categorized as hold for sale
Non-current liability due in 1 year 798,380,000.00 591,740,000.00
Other current liability
Total of current liability 26,952,673,020.18 32,091,592,380.22
Non-current liabilities
Long-term borrowings 1,004,295,862.42 814,627,465.85
Bond payable 1,500,000,000.00
Incl. Preference Shares
Perpetual liability
Long-term payable
Long-term employee wage payable
Special payable
Expected liabilities
Differed income 416,582,000.00 427,524,000.00
Deferred income tax liability
Other non-recurring liabilities
Total of non-current liabilities 2,920,877,862.42 1,242,151,465.85
Total of liability 29,873,550,882.60 33,333,743,846.07
Owners equity:
Share capital 3,136,000,000.00 3,136,000,000.00
Other equity instruments
Incl. Preference Shares
Perpetual liability
Capital reserves 9,114,845,542.05 9,114,845,542.05
Less: Shares in stock
Other misc incomes
Special reserves 8,280,194.40 430,777.94
Surplus reserves 961,105,529.85 961,105,529.85
Common risk provision
Retained profit 2,178,492,524.15 2,172,180,473.24
Total of owner’s equity belong to the parent company 15,398,723,790.45 15,384,562,323.08
Minor shareholders’ equity 463,540,609.86 452,296,861.52
Total of owners’ equity 15,862,264,400.31 15,836,859,184.60
Total of liabilities and owners’ equity 45,735,815,282.91 49,170,603,030.67
Legal representative: Zhao Zhongmin CFO: Han Ge Accounting Manager: Wang Shaoyu
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Bengang Steel Plates Co., Ltd. The 3rd Quarterly Report 2015 (Full Text)
2. Balance Sheet of the Parent Company
In RMB Yuan
Items Closing balance Opening balance
Current asset:
Monetary capital 3,515,470,444.45 9,530,304,140.51
Financial assets accounted at fair value and fluctuation accounted into current income
Deductive financial assets
Notes receivable 1,655,716,162.45 1,863,613,673.54
Account receivable 405,583,902.70 388,842,194.63
Prepayment 1,247,889,632.13 1,126,416,683.45
Interest receivable 7,011,095.89
Dividend receivable
Other account receivable 309,967,412.42 302,622,013.53
Inventories 10,734,389,555.29 9,215,120,654.72
Categorized as asset hold for sale
Non-current asset due in 1 year
Other current asset 372,619,998.05 404,119,874.38
Total of current asset 18,241,637,107.49 22,838,050,330.65
Non-current assets
Sellable financial asset 18,303,673.00 18,303,673.00
Expired investment in possess
Long-term receivable
Long-term share equity investment 1,690,981,902.16 1,690,981,902.16
Investment real estates
Fixed assets 13,839,833,142.69 14,089,675,221.83
Construction in process 7,958,142,839.90 6,074,588,463.12
Engineering goods 4,008,556.64 90,221,101.46
Fixed asset disposal
Production physical assets
Gas & petrol
Intangible assets 159,521,124.15 162,000,727.11
R&D expense
Goodwill
Long-term amortizable expenses
Deferred income tax asset 95,936,382.70 81,964,982.51
Other non-current asset
Total of non-current assets 23,766,727,621.24 22,207,736,071.19
Total of assets 42,008,364,728.73 45,045,786,401.84
Current liabilities
Short-term loans 13,647,881,300.01 16,028,552,000.00
Financial liabilities booked as current gain/loss at fair value
Deductive financial liability
Notes payable 858,025,201.53 732,475,382.04
Account payable 6,585,276,761.84 8,914,580,556.14
Advances received 2,015,459,662.52 2,639,010,215.36
Employees’ wage payable 58,078,756.14 32,213,350.61
Tax payable 8,168,320.07 7,979,826.50
Interest payable 54,057,966.35 5,080,000.00
Dividend payable
Other account payable 301,407,779.41 327,382,843.61
Liabilities categorized as hold for sale
Non-current liability due in 1 year 798,380,000.00 308,740,000.00
Other current liability
Total of current liability 24,326,735,747.87 28,996,014,174.26
Non-current liabilities
Long-term borrowings 1,004,295,862.42 814,627,465.85
Bond payable 1,500,000,000.00
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Bengang Steel Plates Co., Ltd. The 3rd Quarterly Report 2015 (Full Text)
Incl. Preference Shares
Perpetual liability
Long-term payable
Long-term employee wage payable
Special payable
Expected liabilities
Differed income 416,582,000.00 427,524,000.00
Deferred income tax liability
Other non-recurring liabilities
Total of non-current liabilities 2,920,877,862.42 1,242,151,465.85
Total of liability 27,247,613,610.29 30,238,165,640.11
Owners equity:
Share capital 3,136,000,000.00 3,136,000,000.00
Other equity instruments
Incl. Preference Shares
Perpetual liability
Capital reserves 8,694,693,859.93 8,694,693,859.93
Less: Shares in stock
Other misc incomes
Special reserves 8,280,194.40 430,777.94
Surplus reserves 961,105,529.85 961,105,529.85
Retained profit 1,960,671,534.26 2,015,390,594.01
Total of owners’ equity 14,760,751,118.44 14,807,620,761.73
Total of liabilities and owners’ equity 42,008,364,728.73 45,045,786,401.84
3. Income Statement (Consolidated) of the Report Period
In RMB Yuan
Occurred current Occurred in previous
Items
term term
I. Total revenue 5,018,448,900.24 10,383,901,975.97
Incl. Business income 5,018,448,900.24 10,383,901,975.97
Interest income
Insurance fee earned
Fee and commission received
II. Total business cost 4,999,089,186.11 10,332,362,031.31
Incl. Business cost 3,985,783,772.69 9,551,141,344.56
Interest expense
Fee and commission paid
Insurance discharge payment
Net claim amount paid
Net insurance policy reserves provided
Insurance policy dividend paid
Reinsurance expenses
Business tax and surcharge 7,762,405.33 44,236,996.97
Sales expense 249,532,039.19 172,469,064.80
Administrative expense 191,518,290.30 286,238,127.54
Financial expenses 553,412,238.77 271,282,298.04
Asset impairment loss 11,080,439.83 6,994,199.40
Plus: gains from change of fair value (“-“ for loss)
Investment gains (“-“ for loss) 642,273.97 7,290,248.43
Incl. Investment gains from affiliates
Exchange gains (“-“ for loss)
III. Operational profit (“-“ for loss) 20,001,988.10 58,830,193.09
Plus: Non business income 12,553,902.85 3,124,159.02
Incl. Gains from disposal of non-current assets 4,227,427.11 14,434.70
Less: Non-business expenses 93,793.74 41,240.73
Incl. Loss from disposal of non-current assets 93,793.74 41,240.73
IV. Gross profit (“-“ for loss) 32,462,097.21 61,913,111.38
Less: Income tax expenses 3,090,980.55 7,695,000.48
V. Net profit (“-“ for net loss) 29,371,116.66 54,218,110.90
Net profit attributable to the owners of parent company 35,104,914.65 27,917,466.35
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Bengang Steel Plates Co., Ltd. The 3rd Quarterly Report 2015 (Full Text)
Minor shareholders’ equity -5,733,797.99 26,300,644.55
VI. Net amount of other gains after tax
Net amount of other gains after tax attributable to owners of parent company
(I) Other gains not able to be relocated to gain/loss afterward
1. Change of net liability or asset of beneficiary plan from recalculating
2. The share of other gains in invested entities under equity basis which are
not able to be relocated to gain/loss categories
(II) Other gains which will be relocated to gain/loss in the future
1. The share of other gains in invested entities under equity basis which are
to be relocated to gain/loss categories
2. Gain/loss from change of fair value of sellable financial asset
3. Gain/loss from relocating of investment held to mature which is
relocated to sellable financial asset
4. Effective part of gain/loss from cash flow hedge operation
5. Difference in translating of foreign currency accounts
6. Others
Net amount of other gains after tax attributable to minority shareholders
VII. Total of integrated income 29,371,116.66 54,218,110.90
Total of misc. incomes attributable to the owners of the parent company 35,104,914.65 27,917,466.35
Total misc gains attributable to the minor shareholders -5,733,797.99 26,300,644.55
VIII. Earning per share
(I) Basic earnings per share 0.011 0.009
(II) Diluted earnings per share 0.011 0.009
If there are entities merged under common control, their net profit realized before the merger were totaled to RMB***. While it was
RMB*** previous period.
Legal representative: Zhao Zhongmin CFO: Han Ge Accounting Manager: Wang Shaoyu
4. Income Statement (Parent Co.) of the Report Period
In RMB Yuan
Occurred current Occurred in previous
Items
term term
I. Turnover 5,727,345,071.98 10,818,281,641.87
Less: Operation cost 4,747,476,098.85 10,228,260,342.02
Business tax and surcharge 31,262.08 38,220,450.33
Sales expense 213,430,476.87 129,947,728.58
Administrative expense 177,809,001.92 269,491,394.49
Financial expenses 534,681,668.91 245,405,900.43
Asset impairment loss 9,186,144.81 4,149,004.95
Plus: gains from change of fair value (“-“ for loss)
Investment gains (“-“ for loss) 642,273.97 4,010,958.92
Incl. Investment gains from affiliates
II. Operational profit (“-“ for loss) 45,372,692.51 -93,182,220.01
Plus: Non business income 12,437,296.73 2,979,310.54
Incl. Gains from disposal of non-current assets 4,227,427.11 14,434.70
Less: Non-business expenses 8,686.75 41,240.73
Incl. Loss from disposal of non-current assets 8,686.75 41,240.73
III. Total profit (“-“ for loss) 57,801,302.49 -90,244,150.20
Less: Income tax expenses -78,683.79 -431,239.64
IV. Net profit (“-“ for net loss) 57,879,986.28 -89,812,910.56
V. Net amount of other gains after tax
(I) Other gains not able to be relocated to gain/loss afterward
1. Change of net liability or asset of beneficiary plan from recalculating
2. The share of other gains in invested entities under equity basis which are
not able to be relocated to gain/loss categories
(II) Other gains which will be relocated to gain/loss in the future
1. The share of other gains in invested entities under equity basis which are
to be relocated to gain/loss categories
2. Gain/loss from change of fair value of sellable financial asset
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Bengang Steel Plates Co., Ltd. The 3rd Quarterly Report 2015 (Full Text)
3. Gain/loss from relocating of investment held to mature which is
relocated to sellable financial asset
4. Effective part of gain/loss from cash flow hedge operation
5. Difference in translating of foreign currency accounts
6. Others
VI. Total of other gains 57,879,986.28 -89,812,910.56
VII. Earning per share
(I) Basic earnings per share 0.018 -0.029
(II) Diluted earnings per share 0.018 -0.029
5. Income Statement (Consolidated) (Jan. 1 – Sept. 30, 2015)
In RMB Yuan
Occurred current Occurred in previous
Items
term term
I. Total revenue 21,363,364,061.42 30,196,578,257.78
Incl. Business income 21,363,364,061.42 30,196,578,257.78
Interest income
Insurance fee earned
Fee and commission received
II. Total business cost 21,229,584,863.99 29,969,155,487.20
Incl. Business cost 18,887,333,123.26 27,690,267,425.28
Interest expense
Fee and commission paid
Insurance discharge payment
Net claim amount paid
Net insurance policy reserves provided
Insurance policy dividend paid
Reinsurance expenses
Business tax and surcharge 38,872,932.66 109,330,862.45
Sales expense 727,881,318.33 544,974,481.95
Administrative expense 569,109,337.75 908,794,574.91
Financial expenses 944,811,866.14 683,300,684.32
Asset impairment loss 61,576,285.85 32,487,458.29
Plus: gains from change of fair value (“-“ for loss)
Investment gains (“-“ for loss) 7,226,589.08 20,845,473.00
Incl. Investment gains from affiliates
Exchange gains (“-“ for loss)
III. Operational profit (“-“ for loss) 141,005,786.51 248,268,243.58
Plus: Non business income 54,776,907.31 13,301,179.40
Incl. Gains from disposal of non-current assets 7,155,188.26 3,054,319.93
Less: Non-business expenses 20,755,118.94 45,152.91
Incl. Loss from disposal of non-current assets 20,755,118.94 45,152.91
IV. Gross profit (“-“ for loss) 175,027,574.88 261,524,270.07
Less: Income tax expenses 671,775.63 18,136,666.39
V. Net profit (“-“ for net loss) 174,355,799.25 243,387,603.68
Net profit attributable to the owners of parent company 163,112,050.91 201,811,775.99
Minor shareholders’ equity 11,243,748.34 41,575,827.69
VI. Net amount of other gains after tax
Net amount of other gains after tax attributable to owners of parent company
(I) Other gains not able to be relocated to gain/loss afterward
1. Change of net liability or asset of beneficiary plan from recalculating
2. The share of other gains in invested entities under equity basis which
are not able to be relocated to gain/loss categories
(II) Other gains which will be relocated to gain/loss in the future
1. The share of other gains in invested entities under equity basis which
are to be relocated to gain/loss categories
2. Gain/loss from change of fair value of sellable financial asset
3. Gain/loss from relocating of investment held to mature which is
relocated to sellable financial asset
4. Effective part of gain/loss from cash flow hedge operation
5. Difference in translating of foreign currency accounts
14
Bengang Steel Plates Co., Ltd. The 3rd Quarterly Report 2015 (Full Text)
6. Others
Net amount of other gains after tax attributable to minority shareholders
VII. Total of integrated income 174,355,799.25 243,387,603.68
Total of misc. incomes attributable to the owners of the parent company 163,112,050.91 201,811,775.99
Total misc gains attributable to the minor shareholders 11,243,748.34 41,575,827.69
VIII. Earning per share
(I) Basic earnings per share 0.052 0.064
(II) Diluted earnings per share 0.052 0.064
If there are entities merged under common control, their net profit realized before the merger were totaled to RMB***. While it was
RMB*** previous period.
6. Income Statement (Parent Co.) (Jan. 1 – Sept. 30, 2015)
In RMB Yuan
Occurred current Occurred in previous
Items
term term
I. Turnover 22,946,968,744.42 31,605,935,442.63
Less: Operation cost 20,822,808,789.04 29,672,441,206.07
Business tax and surcharge 25,377,987.04 89,878,270.23
Sales expense 602,563,831.95 423,641,369.03
Administrative expense 525,469,968.99 859,652,895.68
Financial expenses 881,677,591.95 580,991,377.30
Asset impairment loss 39,545,707.32 14,874,953.21
Plus: gains from change of fair value (“-“ for loss)
Investment gains (“-“ for loss) 7,226,589.08 16,389,712.34
Incl. Investment gains from affiliates
II. Operational profit (“-“ for loss) 56,751,457.21 -19,154,916.55
Plus: Non business income 52,028,094.80 11,686,855.84
Incl. Gains from disposal of non-current assets 5,442,429.49 3,054,319.93
Less: Non-business expenses 20,670,011.95 45,152.91
Incl. Loss from disposal of non-current assets 20,670,011.95 45,152.91
III. Total profit (“-“ for loss) 88,109,540.06 -7,513,213.62
Less: Income tax expenses -13,971,400.19 -2,181,457.35
IV. Net profit (“-“ for net loss) 102,080,940.25 -5,331,756.27
V. Net amount of other gains after tax
(I) Other gains not able to be relocated to gain/loss afterward
1. Change of net liability or asset of beneficiary plan from recalculating
2. The share of other gains in invested entities under equity basis which
are not able to be relocated to gain/loss categories
(II) Other gains which will be relocated to gain/loss in the future
1. The share of other gains in invested entities under equity basis which
are to be relocated to gain/loss categories
2. Gain/loss from change of fair value of sellable financial asset
3. Gain/loss from relocating of investment held to mature which is
relocated to sellable financial asset
4. Effective part of gain/loss from cash flow hedge operation
5. Difference in translating of foreign currency accounts
6. Others
VI. Total of other gains 102,080,940.25 -5,331,756.27
VII. Earning per share
(I) Basic earnings per share 0.033 -0.002
(II) Diluted earnings per share 0.033 -0.002
15
Bengang Steel Plates Co., Ltd. The 3rd Quarterly Report 2015 (Full Text)
7. Cash Flow Statement (Consolidated)(Jan. 1 – Sept. 30, 2015)
In RMB Yuan
Occurred current Occurred in previous
Items
term term
I. Net cash flow from business operation
Cash received from sales of products and providing of services 16,266,245,235.29 22,269,972,032.15
Net increase of customer deposits and capital kept for brother company
Net increase of loans from central bank
Net increase of inter-bank loans from other financial bodies
Cash received against original insurance contract
Net cash received from reinsurance business
Net increase of client deposit and investment
Net increased amount of financial assets on fair value and with changes
accounted into current gain/loss
Cash received as interest, processing fee, and commission
Net increase of inter-bank fund received
Net increase of repurchasing business
Tax returned 662,521,114.16 68,932,133.31
Other cash received from business operation 91,668,231.59 100,710,062.18
Sub-total of cash inflow from business activities 17,020,434,581.04 22,439,614,227.64
Cash paid for purchasing of merchandise and services 16,366,576,026.70 20,154,313,796.76
Net increase of client trade and advance
Net increase of savings in central bank and brother company
Cash paid for original contract claim
Cash paid for interest, processing fee and commission
Cash paid for policy dividend
Cash paid to staffs or paid for staffs 1,382,466,323.65 1,689,348,579.69
Taxes paid 304,290,794.39 501,971,818.94
Other cash paid for business activities 367,215,382.23 329,248,626.97
Sub-total of cash outflow from business activities 18,420,548,526.97 22,674,882,822.36
Cash flow generated by business operation, net -1,400,113,945.93 -235,268,594.72
II. Cash flow generated by investing
Cash received from investment retrieving 1,747,000,000.00 8,214,370,000.00
Cash received as investment gains 7,226,589.08 20,845,473.00
Net cash retrieved from disposal of fixed assets, intangible assets, and other
6,407,771.07 131,010.80
long-term assets
Net cash received from disposal of subsidiaries or other operational units
Other investment-related cash received
Sub-total of cash inflow due to investment activities 1,760,634,360.15 8,235,346,483.80
Cash paid for construction of fixed assets, intangible assets and other long-term
1,976,666,364.11 1,237,913,719.32
assets
Cash paid as investment 1,747,000,000.00 7,684,370,000.00
Net increase of loan against pledge
Net cash received from subsidiaries and other operational units
Other cash paid for investment activities
Sub-total of cash outflow due to investment activities 3,723,666,364.11 8,922,283,719.32
Net cash flow generated by investment -1,963,032,003.96 -686,937,235.52
III. Cash flow generated by financing
Cash received as investment
Incl. Cash received as investment from minor shareholders
Cash received as loans 10,227,293,035.82 10,190,304,700.00
Cash received from bond placing
Other financing-related cash received
Subtotal of cash inflow from financing activities 10,227,293,035.82 10,190,304,700.00
Cash to repay debts 11,714,835,352.66 7,619,071,691.10
Cash paid as dividend, profit, or interests 1,031,281,578.31 870,037,096.28
Incl. Dividend and profit paid by subsidiaries to minor shareholders
Other cash paid for financing activities
Subtotal of cash outflow due to financing activities 12,746,116,930.97 8,489,108,787.38
Net cash flow generated by financing -2,518,823,895.15 1,701,195,912.62
IV. Influence of exchange rate alternation on cash and cash equivalents 49,806,775.81 749,761.37
V. Net increase of cash and cash equivalents -5,832,163,069.23 779,739,843.75
16
Bengang Steel Plates Co., Ltd. The 3rd Quarterly Report 2015 (Full Text)
Plus: Balance of cash and cash equivalents at the beginning of term 9,327,034,030.07 4,574,532,598.83
VI. Balance of cash and cash equivalents at the end of term 3,494,870,960.84 5,354,272,442.58
8. Cash Flow Statement (Parent Co.)(Jan. 1 – Sept. 30, 2015)
In RMB Yuan
Occurred current Occurred in previous
Items
term term
I. Net cash flow from business operation
Cash received from sales of products and providing of services 17,125,620,967.15 23,551,146,202.09
Tax returned 580,257,065.94 45,691,196.11
Other cash received from business operation 84,989,052.66 93,429,119.81
Sub-total of cash inflow from business activities 17,790,867,085.75 23,690,266,518.01
Cash paid for purchasing of merchandise and services 18,818,738,975.87 22,084,905,911.37
Cash paid to staffs or paid for staffs 1,314,515,875.18 1,582,544,300.92
Taxes paid 164,895,584.21 333,013,170.45
Other cash paid for business activities 304,105,155.51 264,828,429.24
Sub-total of cash outflow from business activities 20,602,255,590.77 24,265,291,811.98
Cash flow generated by business operation, net -2,811,388,505.02 -575,025,293.97
II. Cash flow generated by investing
Cash received from investment retrieving 1,747,000,000.00 7,440,000,000.00
Cash received as investment gains 7,226,589.08 16,389,712.34
Net cash retrieved from disposal of fixed assets, intangible assets, and other
6,367,771.07 131,010.80
long-term assets
Net cash received from disposal of subsidiaries or other operational units
Other investment-related cash received
Sub-total of cash inflow due to investment activities 1,760,594,360.15 7,456,520,723.14
Cash paid for construction of fixed assets, intangible assets and other long-term
1,959,576,291.15 1,225,009,067.83
assets
Cash paid as investment 1,747,000,000.00 6,910,000,000.00
Net cash received from subsidiaries and other operational units
Other cash paid for investment activities
Sub-total of cash outflow due to investment activities 3,706,576,291.15 8,135,009,067.83
Net cash flow generated by investment -1,945,981,931.00 -678,488,344.69
III. Cash flow generated by financing
Cash received as investment
Cash received as loans 9,644,293,035.82 8,626,994,500.00
Cash received from bond placing
Other financing-related cash received
Subtotal of cash inflow from financing activities 9,644,293,035.82 8,626,994,500.00
Cash to repay debts 9,792,163,833.61 5,839,225,142.81
Cash paid as dividend, profit, or interests 967,566,960.75 787,964,325.84
Other cash paid for financing activities
Subtotal of cash outflow due to financing activities 10,759,730,794.36 6,627,189,468.65
Net cash flow generated by financing -1,115,437,758.54 1,999,805,031.35
IV. Influence of exchange rate alternation on cash and cash equivalents 49,792,024.32 3,487,621.18
V. Net increase of cash and cash equivalents -5,823,016,170.24 749,779,013.87
Plus: Balance of cash and cash equivalents at the beginning of term 9,090,466,146.15 4,304,424,513.46
VI. Balance of cash and cash equivalents at the end of term 3,267,449,975.91 5,054,203,527.33
II. Auditors’ Report
If the 3rd quarterly report been audited
[] Yes [V] No
The 3rd quarterly report has not been audited.
17
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