Wafangdian Bearing Compnay Limited The Q1 Report for 2016
Stock code: 200706 stock short form: Wazhou B Report code: 2016-11
Wafangdian Bearing Company Limited
The Q1 Report for 2016
§1 Important Notes
1The Board of Directors, Board of Supervisors, directors, supervisors, and top management of the Company hereby
guaranteed that there are no false records, misleading statements, and major omits in this report, and assumed the individual
and associated responsibilities for the truth, accuracy and completeness of the contents.
Chairman of the Board Mr. Cong Hong , Financial manager Ms.Sun Najuan, Accounting charger Ms. Yao Chunjuan
hereby confirms that the Financial Report of the quarterly report is true and complete.
Besides the following directors, all the other directors attended the Board meeting and discussed the report.
Name Post Reasons Assignee name
Tang Yurong Diretor Busy work Fang Bo
§2 Major accounting data and shareholder change
1 Major accounting data and financial indexes
Unit: RMB
Jan-Mar 2016 Jan-Mar 2015 +/- to previous
Operating income(Yuan) 534,404,100.68 582,509,508.85 -8.26%
Net profits attributed Shareholders(Yuan) 2,340,344.55 -39,057,333.13 -105.99%
Net profit available for shareholders of listing
-1,164,062.96 -41,560,197.87 97.20%
company with abnormal incomes deducted
Net cash flows from operation activities 16,496,758.57 -62,129,152.74 -126.55%
Basic gains on per share 0.01 -0.10 -110.00%
Diluted gains on per share 0.01 -0.10 -110.00%
Net returns on assets (%) 0.17% -2.87% 3.04%
Jan-Mar 2016 Jan-Mar 2015 +/- to previous
Total assets 3,589,537,082.53 3,523,969,203.48 1.86%
Owners’ equity (shareholders’ equity) 1,350,805,319.88 1,348,464,975.33 0.17%
Items of non-recurring gains and losses
√ Applicable □ Inapplicable
Unit: RMB
Items of non-recurring gains and losses Amount Note（if applicable）
Gain or loss form disposal of non-current assets -43,770.58
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 national 1,838,388.97
policy, or in accordance with fixed standards or quantities
Profit of loss from debts restructuring 1,028,287.75
Other non-business income and expenditures other than the above 1,299,926.22
Influenced amount of income tax 618,424.85
Total 3,504,407.51 -
1
Wafangdian Bearing Compnay Limited The Q1 Report for 2016
2 Total number of shareholders at the end of the report period and shares held by the top ten shareholders
Unit: Share
Total number of shareholder at the end of Total number of shareholder at the end of report period with
7499 0
report period preferred stock
Shareholders with 5% or above Shares
Increase or Impawned or Frozen Shares
Current
Total shares decrease Non-current
Name Nature Ratio（%） Shares held
held in the report shares held Status Amount
period
Wafangdian Bearing
State-owned shareholder 60.61% 402,600,000 244,000,000
Group Corporation
AKTIEBOLAGET
Foreign shareholder 19.70% 79,300,000 79,300,000 Frozen 79,300,000
SKF
Huang Junyue Domestic shareholder 1.00% 3,990,000
GUOTAI JUNAN
SECURITIES(HONG Foreign shareholder 0.70% 2,708,740
KONG) LIMITED
BOCI SECURITIES
Foreign shareholder 0.60% 2,220,000
LIMITED
Jin Yunhuang Foreign shareholder 0.50% 2,017,729
Hu Xiaofeng Domestic shareholder 0.50% 1,879,277
CREDIT SUISSE
(HONG KONG) Foreign shareholder 0.30% 1,049,915
LIMITED
MAN,KWAI WING 文
Foreign private shareholde 0.20% 713,101
贵荣
Liao Yun Domestic shareholder 0.10% 550,000
Explanation for the Affiliated In the report period, the frozen period of the shares purchased by the company’s strategic
investor AKTIEBOLAGET SKF expired in 1999, and has not dealt with the releasing-procedure in
Relations or United Action of the Top Ten Shareholders this report period.
Notes to relationship or “action in concert”among the
top ten shareholders.
Top Ten Tradable Shareholders
Category of Shares
Name Current shares held at end of year
Categories Amount
AKTIEBOLAGET SKF 79,300,000 B 79,300,000
Huang Junyue 3,990,000 B 3,990,000
GUOTAI JUNAN B
SECURITIES(HONGKONG) 2,708,740 2,708,740
LIMITED
BOCI SECURITIES LIMITED 2,220,000 B 2,220,000
Jin Yunhuang 2,017,729 B 2,017,729
Hu Xiaofeng 1,879,277 B 1,879,277
CREDIT SUISSE (HONG KONG) B
LIMITED 1,049,915 1,049,915
MAN,KWAI WING 文贵荣 713,101 B 713,101
Liao Yun 550,000 B 550,000
Zhou Jun lin 525,100 B 525,100
Explanation for the Affiliated Relations or
United Action of the Top Ten There was no relationship and consistent activities between the first big shareholder and other shareholders or
the top ten common stock holders; The relationship among other shareholders, top ten circulation shareholders,
Shareholders and the Top Ten Tradable top ten circulation shareholders and other shareholders was not clear.
Shareholders
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Wafangdian Bearing Compnay Limited The Q1 Report for 2016
§3 Significant items
1 Particulars dates changes over 30% in items of main accounting statement and financial index , and explanations of
reasons
√Applicable□Inapplicable
Unite: 0000’Yuan
The end of Beginning of
No Item % Reason
year year
Because the returned money by bank acceptance
1 Bills receivable 15,921.1 10,050.6 58.4%
increase.
Dividend reciivable with 240 thousand Yuan from ME at the
2 Dividend reciivable - 24.0 -100.0%
beginning of the year
Mainly because some travel expense and meeting expense which
3 Other receivables 3,210.9 2,146.3 49.6% are not reimbursed increased 8.91 millio Yuan compared with year
begin.
Mainly because the short-time loan increase 1500 million Yuan in
4 Short-term loan 53,500.0 38,500.0 39.0%
the report peirod
Mainly because the account received in advance from some
cilents of parent company decline,of which Dalian Huarui
5 Accounts received in advance 2,952.1 4,483.6 -34.2% Zhonggong decrease with 5.08 million Yuan, the account received
in advance from sales branch company decreased with 9.96
millionYuan.
1. Liquidity loan interest withdrawing decline 2.3 million
6 Financial expense 625.5 1,086.7 -42.4%
Yuan;2.net income on exchange increase by 2.34 million Yuan.
Last peirod write-off the account diffirence with Liao Ning Shu
7 Loss of impairment of assets 0.1 1.5 -93.1%
Guang by 15 thousand Yuan.
Mainly because the fine income from agency with 1.05 million
8 Non-operating revenue 442.3 285.2 55.1%
Yuan.
1.debt restructuring losses increased with 90 thousand
9 Non-operating cost 30.1 16.5 81.9% Yuan;2.non-current assets disposal losses increase with 30
thousand Yuan
1.main business gross rate is 12.1%,increase 5.1% compared with
last peirod,which lead to gross profit increase 21.39 million
Yuan;2.other business gross rate is 1.8%,incease by 0.8%,lead to
10 Net profit 234.0 -3,905.7 -106.0%
gross profit incease about 410 thousan Yuan;3.sale expense
decline 10.16 million Yuan;4.financial expense decline 4.61 million
Yuan;5.administration expense decline 2.87 million Yuan.
Other cash received relating to Mainly because the subsidy decline compared with
11 130.7 346.1 -62.2%
operating activities last peirod
Mainly because forging discount acceptance due repayment
Cash paid for goods and
12 14,135.9 20,210.4 -30.1% separately to financing activities for cash, which is accounted in to
services Cash paid for goods and services
Cash received from return of Mainly because received from return of investment of 2014 from
13 24.0 0.0
investment ME with 240 thousand Yuan.
Cash paid to acquire fixed
Mainly because the cash paid on fix asset investment decline
14 assets, intangible assets and 162.7 438.6 -62.9%
compared with last peirod.
other long-term assets
Mainly because last year the company buy Dalian sikaifu ZWZ
15 Cash paid to acquire investment 0.0 1,125.0 -100.0% Bearing Co., Ltd. 51% of the equity, the issuing bank letter of credit
of 11.25 million yuan payment at maturity
mainly due to the forging discount payment collection to receive
Other proceeds relating to other related to financing activities cash. Over the same period, the
16 9,796.4 0.0
financing activities 973 million imputation in the sale of goods and services received in
cash
Distribution of dividends or
17 925.5 669.6 38.2% The loan interset shall paid in the report peirod increased.
profits & interest expenses
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Wafangdian Bearing Compnay Limited The Q1 Report for 2016
Generations of forging discounted repayment separately to the
Cash paid for other financing payment related to financing activities cash. At the same time, the
18 14,000.0 0.0
activities imputation in the purchase of goods and receive services paid
cash
Mainly due to the Fed's interest rate hike is expected to drag,
Effects of foreign exchange rate
19 17.59 -407.0% leading to short-term decline in the dollar exchange rate, the
changes on cash -54.00 impact of the current dollar denominated bank deposits
2 Progress of significant events, their influence, and analysis and explanation of their solutions
□Applicable √Inapplicable
3 The company, shareholders, actual controller, the acquirer, directors, supervisors and senior management
personnel or other related parties to fulfill commitments and the final report has not been fulfilled in the reporting
period
□Applicable √Inapplicable
4 Estimation of accumulative net profit from Jan to June 2016
□Applicable √Inapplicable
5 Particular about security investment
□Applicable √Inapplicable
6 Particular about derivatives
□Applicable √Inapplicable
7 Activities on receiving research, communication and interview in the report period
Time Site Method Object Content and documents supplied Time
2016.01.27 Office Telephone communication Private investor The general information of the company Office
2016.03.09 Office Telephone communication Private investor The general information of the company Office
2016.03.17 Office Telephone communication Private investor The general information of the company Office
8 Illegal external guarantee
□Applicable √Inapplicable
9 Controlling shareholder and its related parties to the listing Corporation's non operating funds
□Applicable √Inapplicable
4
Wafangdian Bearing Compnay Limited The Q1 Report for 2016
§4 Appendix
1 Balance sheet
Consolidated Balance Sheet.
Unit: RMB Yuan
Item Opening Balance Closing Balance
Current assets ：
Monetary fund 132,835,331.61 116,316,020.57
Financial assets held-for-trading
Bills receivable 159,210,782.40 100,506,003.70
Account receivable 1,026,232,852.03 993,933,326.37
Account paid in advance 34,714,559.47 32,673,623.77
Interest receivable
Dividend reciivable 240,000.00
Other receivables 32,109,382.42 21,462,837.65
Inventory 1,039,572,228.20 1,075,275,456.02
Non-current assets due within 1 year
Other current assets 6,664,084.84 8,973,032.78
Total current assets 2,431,339,220.97 2,349,380,300.86
Non-current assets
Financial assets available-for-sale 2,000,000.00 2,000,000.00
Investments held-to-maturity
Long-term receivable
Long-term equity investment
Investment property
Fixed assets 702,432,403.83 695,125,451.81
Construction in progress 307,083,892.13 329,632,219.42
Construction materials
Fixed assets disposal
Biological assets
Gas and petrol assets
Intangible assets 134,256,063.89 135,366,608.09
Development expenditure
Goodwill
Long-term prepaid expense 572,234.44 611,356.03
Deferred tax assets 11,853,267.27 11,853,267.27
Other non-current assets
Total non-current assets 1,158,197,861.56 1,174,588,902.62
Total assets 3,589,537,082.53 3,523,969,203.48
Current liabilities
Short-term loan 535,000,000.00 385,000,000.00
Note payable 290,611,300.00 327,466,550.20
Accounts payable 952,966,686.10 973,485,937.22
Accounts received in advance 29,520,718.36 44,835,510.10
Employee benefits 18,824,267.23 19,440,701.80
Tax payable 5,118,829.52 6,074,347.23
Interest payable 1,130,007.00 1,400,000.00
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Wafangdian Bearing Compnay Limited The Q1 Report for 2016
Dividends payable
Other payables 122,669,609.48 133,832,447.67
Non-current liabilities due within I year 50,000,000.00 50,000,000.00
Other current liabilities 4,411,103.83 4,411,103.83
Total current liabilities 2,010,252,521.52 1,945,946,598.05
Non-current liabilities
Long-term loan 180,000,000.00 180,000,000.00
Debenture payable
Long-term payables 1,597,305.72 1,597,305.72
Special payables 321,698.98 321,698.98
Contingent liabilities
Deferred income 45,571,807.85 46,650,196.82
Deferred tax liabilities 988,428.58 988,428.58
Other non-current liabilities
Total non-current liabilities 228,479,241.13 229,557,630.10
Total liabilities 2,238,731,762.65 2,175,504,228.15
Owner’s equity (shareholders’ equity)
Capital stock 402,600,000.00 402,600,000.00
Capital public reserves 485,691,050.47 485,691,050.47
Less: treasury share
Surplus reserve 131,442,909.11 131,442,909.11
Undistributed profit 331,071,360.30 328,731,015.75
Equity attributable to parent company 1,350,805,319.88 1,348,464,975.33
Minority interest
Total owner’s equity 1,350,805,319.88 1,348,464,975.33
Total owner’s equity and liabilities 3,589,537,082.53 3,523,969,203.48
Chairman: Meng Wei General Accountant : Sun Najuan Accounting charger: Yao Chunjuan
2.Balance Sheet Of Parent Company
Unit: RMB Yuan
Item Opening Balance Closing Balance
Current assets ：
Monetary fund 126,182,150.71 108,582,231.28
Financial assets held-for-trading
Bills receivable 141,334,690.61 89,099,697.82
Account receivable 1,041,339,300.00 1,020,633,783.54
Account paid in advance 22,912,589.59 23,489,543.17
Divident receivable 240,000.00
Other receivables 30,056,308.28 19,679,695.34
Inventory 960,423,389.38 998,035,803.15
Non-current assets due within 1 year
Other current assets 3,217,256.44 4,828,826.85
Total current assets 2,325,465,685.01 2,264,589,581.15
Non-current assets
Financial assets available-for-sale 2,000,000.00 2,000,000.00
Investments held-to-maturity
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Wafangdian Bearing Compnay Limited The Q1 Report for 2016
Long-term receivable
Long-term equity investment 211,583,897.67 211,583,897.67
Investment property
Fixed assets 559,648,595.44 577,635,433.51
Construction in progress 209,348,946.13 204,617,819.76
Construction materials
Fixed assets disposal
Biological assets
Gas and petrol assets
Intangible assets 114,172,685.53 115,105,064.38
Development expenditure
Goodwill
Long-term prepaid expense 572,234.44 611,356.03
Deferred tax assets 10,580,100.02 10,580,100.02
Other non-current assets
Total non-current assets 1,107,906,459.23 1,122,133,671.37
Total assets 3,433,372,144.24 3,386,723,252.52
Current liabilities
Short-term loan 535,000,000.00 385,000,000.00
Note payable 290,611,300.00 327,466,550.20
Accounts payable 838,145,310.18 882,281,596.61
Accounts received in advance 32,718,751.91 44,003,546.25
Commission charge payable
Employee benefits 11,281,912.42 11,902,749.05
Tax payable 2,149,365.23 3,381,449.54
Interest payable 1,130,007.00 1,400,000.00
Dividends payable
Other payables 83,780,709.40 94,547,419.88
Non-current liabilities due within I year 50,000,000.00 50,000,000.00
Other current liabilities 4,313,555.83 4,313,555.83
Total current liabilities 1,849,130,911.97 1,804,296,867.36
Non-current liabilities
Long-term loan 180,000,000.00 180,000,000.00
Debenture payable
Long-term payables
Special payables 321,698.98 321,698.98
Contingent liabilities
Deferred income 41,182,147.85 42,260,536.82
Deferred tax liabilities
Other non-current liabilities
Total non-current liabilities 221,503,846.83 222,582,235.80
Total liabilities 2,070,634,758.80 2,026,879,103.16
Owner’s equity (shareholders’ equity)
Capital stock 402,600,000.00 402,600,000.00
Capital public reserves 485,678,443.26 485,678,443.26
Less: treasury share
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Wafangdian Bearing Compnay Limited The Q1 Report for 2016
Surplus reserve 131,442,909.11 131,442,909.11
Undistributed profit 343,016,033.07 340,122,796.99
Difference of foreign currency translation
Total owner’s equity 1,362,737,385.44 1,359,844,149.36
Total owner’s equity and liabilities 3,433,372,144.24 3,386,723,252.52
3. Income Sheet
Consolidated Income Sheet.
Unit: RMB Yuan
Item Account for the current period Account for the prior period
1.Total operating income 534,404,100.68 582,509,508.85
Including: Operating revenue 534,404,100.68 582,509,508.85
Interest income
Handling charge and commission income
2.Total operating cost 536,186,588.49 623,989,307.39
Including: Operating cost 474,543,771.67 544,451,687.38
Interest expenses
Handling charge and commission income
Tax & surcharges for main operations 2,484,423.99 2,729,670.51
Selling expenses 35,418,510.77 45,573,673.47
Administrative expense 17,484,083.53 20,352,173.79
Financial expense 6,254,731.49 10,866,638.63
Loss of impairment of assets 1,067.04 15,463.61
Add: Gains of change of fair value of assets(loss with"-")
Investment income(loss with "-")
Including: Income form investment on associated enterprise and
jointly enterprise
3.Operating profit (loss with"-") -1,782,487.81 -41,479,798.54
Add: Non-operating revenue 4,423,429.08 2,851,740.40
Less: Non-operating cost 300,596.72 165,238.11
Including: loss on disposal of non-current assets
4.Total profit(loss with"-") 2,340,344.55 -38,793,296.25
Less: Income tax expenses 264,036.88
5. Net profit(Loss with"-") 2,340,344.55 -39,057,333.13
Net profit attributable to shareholders of parent company 2,340,344.55 -39,057,333.13
Minority interests
6. Total comprehensive returns 2,340,344.55 -39,057,333.13
Total comprehensive returns available for parent company 2,340,344.55 -39,057,333.13
Total comprehensive returns available for minority shareholders
7.Earnings per share
(1) Basic earnings per share 0.01 -0.10
(2) Diluted earnings per share 0.01 -0.10
Chairman: Meng Wei General Accountant : Sun Najuan Accounting charger: Yao Chunjuan
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Wafangdian Bearing Compnay Limited The Q1 Report for 2016
Income Sheet of Parent Company.
Unit: RMB Yuan
Item Account for the current period Account for the prior period
1.Total operating income 547,810,933.56 601,263,563.41
less: Operating cost 493,808,513.55 564,664,355.45
Tax & surcharges for main operations 2,245,292.52 2,351,572.00
Selling expenses 34,948,306.61 45,336,228.44
Administrative expense 10,870,534.87 13,057,173.60
Financial expense 6,257,369.95 10,795,524.55
Loss of impairment of assets 1,067.04 15,463.61
Add: Gains of change of fair value of assets(loss with"-")
Investment income(loss with "-")
Including: Income form investment on associated enterprise and
jointly enterprise
2.Operating profit (loss with"-") -320,150.98 -34,956,754.24
Add: Non-operating revenue 3,513,983.78 1,815,672.71
Less: Non-operating cost 300,596.72 149,878.92
Including: loss on disposal of non-current assets
3.Total profit(loss with"-") 2,893,236.08 -33,290,960.45
Less: Income tax expenses
4 Net profit(Loss with"-") 2,893,236.08 -33,290,960.45
5.othercomprehensive returns
6. Total comprehensive returns 2,893,236.08 -33,290,960.45
7.Earnings per share
(1) Basic earnings per share 0.01 -0.08
(2) Diluted earnings per share 0.01 -0.08
3 Cash Flow Statement
Consolidated Cash Flow Statement.
Unit: RMB yuan
Item Account for the current period Account for the prior period
1.Cash from operating activities
Cash received from sale of goods or rendering of services 274,271,178.10 267,247,840.17
Refund of taxes and fares
Other cash received relating to operating activities 1,307,313.60 3,460,799.50
Sub-total of cash inflows 275,578,491.70 270,708,639.67
Cash paid for goods and services 141,358,864.87 202,103,611.79
Cash paid to or on behalf of the employees 80,393,546.42 87,047,573.63
Tax payments 13,059,673.43 10,155,733.17
Other cash paid relating to operating activities 24,269,648.41 33,530,873.82
Sub-total of cash outflows 259,081,733.13 332,837,792.41
Net cash flows from operating activities 16,496,758.57 -62,129,152.74
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Wafangdian Bearing Compnay Limited The Q1 Report for 2016
2.Cash flows from investing activities
Cash received from return of investment 240,000.00
Net cash received from disposal of fixed assets, intangible assets and
other long-term assets
Proceeds from sale of subsidiaries and other operating units
Other cash received relating to investing activities
Sub-total of cash inflows 240,000.00
Cash paid to acquire fixed assets, intangible assets and other
1,626,653.53 4,386,179.72
long-term assets
Cash paid to acquire investment 11,250,000.00
Net cash used in acquiring subsidiaries and other operating units
Other cash paid relating to investing activities
Sub-total of cash outflows 1,626,653.53 15,636,179.72
Net cash flows from investment activities -1,386,653.53 -15,636,179.72
3.Cash flows from financing activities
Cash received from absorbing investment
Including: Cash received from increase in minority interest
Proceeds from borrowings 285,000,000.00 237,579,700.00
Other proceeds relating to financing activities 97,963,750.00
Sub-total of cash inflows 382,963,750.00 237,579,700.00
Repayment of borrowings 220,000,000.00 185,000,000.00
Distribution of dividends or profits & interest expenses 9,254,570.05 6,695,721.40
Including: dividends or profit paid to minority interest
Cash paid for other financing activities 140,000,000.00
Sub-total of cash outflows 369,254,570.05 191,695,721.40
Net cash flows from financing activities 13,709,179.95 45,883,978.60
4. Effects of foreign exchange rate changes on cash -539,983.94 175,884.73
5.Net increases in cash and cash equivalents 28,279,301.05 -31,705,469.13
Add: cash and cash equivalent, at the beginning of year 78,556,030.56 143,399,164.66
6.Cash and cash equivalent at the end of the year 106,835,331.61 111,693,695.53
Cash Flow Statement Of Parent Company.
Unit: RMB yuan
Item Account for the current period Account for the prior period
1.Cash from operating activities
Cash received from sale of goods or rendering of services 270,016,517.86 228,559,669.12
Refund of taxes and fares
Other cash received relating to operating activities 1,045,722.24 3,081,973.02
Sub-total of cash inflows 271,062,240.10 231,641,642.14
Cash paid for goods and services 154,491,640.64 185,387,176.36
Cash paid to or on behalf of the employees 66,051,711.98 69,873,721.15
Tax payments 10,750,789.10 7,102,970.58
Other cash paid relating to operating activities 22,488,603.33 28,762,533.51
Sub-total of cash outflows 253,782,745.05 291,126,401.60
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Wafangdian Bearing Compnay Limited The Q1 Report for 2016
Net cash flows from operating activities 17,279,495.05 -59,484,759.46
2.Cash flows from investing activities
Cash received from return of investment 240,000.00
Net cash received from disposal of fixed assets, intangible assets and
other long-term assets
Proceeds from sale of subsidiaries and other operating units
Other cash received relating to investing activities
Sub-total of cash inflows 240,000.00
Cash paid to acquire fixed assets, intangible assets and other
1,329,504.22 4,356,532.22
long-term assets
Cash paid to acquire investment 11,250,000.00
Net cash used in acquiring subsidiaries and other operating units
Other cash paid relating to investing activities
Sub-total of cash outflows 1,329,504.22 15,606,532.22
Net cash flows from investment activities -1,089,504.22 -15,606,532.22
3.Cash flows from financing activities
Cash received from absorbing investment
Including: Cash received from increase in minority interest
Proceeds from borrowings 285,000,000.00 237,579,700.00
Other proceeds relating to financing activities 97,963,750.00
Sub-total of cash inflows 382,963,750.00 237,579,700.00
Repayment of borrowings 220,000,000.00 185,000,000.00
Distribution of dividends or profits & interest expenses 9,253,847.45 6,693,938.91
Cash paid for other financing activities 140,000,000.00
Sub-total of cash outflows 369,253,847.45 191,693,938.91
Net cash flows from financing activities 13,709,902.55 45,885,761.09
4. Effects of foreign exchange rate changes on cash -539,983.94 175,884.73
5.Net increases in cash and cash equivalents 29,359,909.44 -29,029,645.86
Add: cash and cash equivalent, at the beginning of year 70,822,241.27 135,518,792.14
6.Cash and cash equivalent at the end of the year 100,182,150.71 106,489,146.28
2 Audited Report
The Q1 Report is not audited.
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