Stock Code: 000761 Abbreviation: Bengang Bancai Announcement No.：2021-065
Bengang Steel Plates Co., Ltd.Third Quarter Report 2021
Important Notice:
1. The Board of Directors, the Supervisory Committee and the Directors, members of theSupervisory Committee and senior management of the Company guarantee that there are nomisrepresentations or misleading statements, or material omission in this report, and individuallyand collectively accept full responsibility for the authenticity, accuracy and integrity of theinformation contained in this report.
2. The person in charge of the company, the person in charge of accounting work, and the person incharge of the accounting organization (accounting officer), hereby confirm that the financial reportin this quarterly report is true, accurate and complete.
3. Whether the third quarter report is audited
□ Yes √ No
I. Summary of Financial Index
1. Summary of Accounting data and Financial index
Whether the Company makes retroactive adjustment or restatement of the accounting data of the previous year
□ Yes √ No
| This reporting period | Increase or decrease over the same period of the previous year | From the beginning of this year to the end of this reporting period | Increase or decrease over the same period of the previous year | |||
| Operating income（RMB） | 22,839,272,300.53 | 80.30% | 61,427,400,512.67 | 76.25% | ||
| Net profit attributable to the shareholders of the listed company（RMB） | 1,568,670,728.28 | 5,334.49% | 3,777,468,896.19 | 1,232.40% | ||
| Net profit after deducting of non-recurring gain/loss attributable to the shareholders of listed company（RMB） | 1,564,675,127.02 | 31,395.92% | 3,763,817,375.84 | 1,437.17% | ||
| Net Cash flow generated by business operation（RMB） | —— | —— | 1,543,820,687.38 | -208.33% | ||
| Basic earnings per share(RMB/Share) | 0.38 | 12,245.09% | 0.92 | 1,214.29% | ||
| Diluted earnings per share(RMB/Share) | 0.38 | 12,245.09% | 0.92 | 1,214.29% | ||
| Weighted average net assets yield | 6.83% | 16.32% | 16.46% | 15.09% | ||
| At the end of the current period | At the end of previous year | Increase or decrease at the end of this reporting period over the previous year | ||||
| Total assets（RMB） | 67,252,482,643.32 | 65,007,470,749.20 | 3.45% | |||
| Net assets attributable to shareholders of the listed company（RMB） | 23,799,726,515.82 | 21,018,296,389.10 | 13.23% | |||
2. Items and amount of non-recurring profit and loss
√ Applicable □ Not applicable
Unit: Yuan
| Items | This reporting period | From the beginning of the year to the end of the current period | Notes |
| Profit or loss from disposal of non-current assets (including the | -11,376,424.23 | -33,648,474.64 |
| write-off part for which assets impairment provision is made) | |||
| Details of government subsidies recorded into current profits and loss（except such government subsidy closely related to the company’s normal business operation, meeting the regulation of national policy and enjoyed constantly in certain quota or quantity according to a certain standard） | 16,147,275.00 | 48,806,758.34 | |
| Other non-operating revenue and expenditure other than above items | 566,515.70 | 3,122,051.43 | |
| Less: Impact of income tax | 1,334,341.62 | 4,570,083.78 | |
| Impact of minority interests (after tax) | 7,423.59 | 58,731.00 | |
| Total | 3,995,601.26 | 13,651,520.35 | -- |
Other circumstances can be defined as non-recurring profit and loss:
□ Applicable √ Not applicable
There is no other circumstances can be defined as non-recurring profit and loss.For the Company’s non-recurring profit and loss items as defined in “the Explanatory Announcement No.1 on informationdisclosure for Companies Offering their Securities to the Public-Non-recurring Profits and Losses” and its non-recurring profitand loss items as illustrated in “the Explanatory Announcement No.1 on information disclosure for Companies Offering theirSecurities to the Public-Non-recurring Profits and Losses” which have been defined as recurring profits and losses, it is necessaryto explain the reason.
□ Applicable √ Not applicable
None of Non-recurring profit and loss items recognized as recurring profit and loss items as defined by “the ExplanatoryAnnouncement No.1 on information disclosure for Companies Offering their Securities to the Public-Non-recurring Profits andLosses” in the report period.
3. Major Changes in Financial Data and Financial Index and Reasons
√ Applicable □ Not applicable
? Items and reasons for the changes of more than 30% compared with the beginning of the year in the
consolidated statement
| 1. Statement of Financial Position | Increase / Decrease | Reasons |
| Accounts receivable financing | 49% | Due to the increase of accounts receivable received during the current period. |
| Construction in progress | 42% | Due to the increase of construction in progress that did not meet the conditions of transferring to fixed assets at the end of the period. |
| Notes payables | -44% | Due to the decrease of notes payable issued during the current period. |
| Contract liabilities | 61% | Due to the increase of contract liabilities. |
| Employee benefits payables | 147% | Due to the increase of employee benefits payables during the current period. |
| Tax payables | 724% | Due to the increase of VAT payable at the end of this period. |
| Other payables | 246% | Due to the increase of dividend payables during the current period. |
| Non-current liabilities due within one year | -96% | Due to the decrease of non-current liabilities due within one year during the current period. |
| Other current liabilities | 61% | Due to the increase of output VAT waiting to be claimed during the current period. |
| Long-term payables | 47% | Due to the increase of lease payment during the current period |
| Deferred income | -31% | Due to the deferred income has been fully amortized during the current period. |
| Special reserves | 7334% | Due to the increase of unpaid safety production fee during the current period. |
| Undistributed profit | 67% | Due to the increase of profit during the current period. |
? Items and reasons for the changes of more than 30% compared to January to September 2020 in theconsolidated financial statements
| 2. Statement of comprehensive income | Increase / Decrease | Reasons |
| Operating income | 76% | Due to the increase of the sales price of steel products during the current period. |
| Operating cost | 68% | Due to the increase of the price of raw materials during the current period. |
| Tax and surcharges | 158% | Due to the increase of VAT during the current period. |
| Selling and distribution expenses | -89% | According to the new revenue standard, the product freight included in the sales expenses is listed in the operating cost during the current period. |
| Financial expenses | 52% | Due to the increase of bonds interest payables and decrease of exchange income during the current period. |
| Income on investment | 2615% | Due to the increase of financing income during the current period. |
| Expected credit loss | -58% | Due to the decrease of recovery of bad debt during the current period compared to the previous period. |
| Asset impairment loss | -80% | Due to the decrease in the reversal of inventory impairment provision in the current period compared with the previous period. |
| Assets disposal gains | -67% | Due to the decrease in assets sold during the current period |
| Non-operating income | 173% | Due to the increase of other non-operating income |
| Non-operating expenses | 74% | Due to the increase of losses arose from fixed assets scrapping |
| Income tax expenses | 3960% | Due to the increase of profit during the current period. |
| 3. Statement of cash flows | Increase / Decrease | Reasons |
| Cash received from sale of goods or rendering of services | 62% | Due to the increase of cash received for goods and services during the current period. |
| Tax rebate received | -82% | Due to the decrease of cash received of tax rebate during the current period. |
| Cash paid for goods and services | 44% | Due to the increase of cash paid for goods and services during the current period. |
| Cash paid for all types of taxes | 192% | Due to the increase of payment of all types of taxes. |
| Cash received of borrowings | -60% | Due to the decrease of borrowings. |
| Cash repayments of borrowings | -48% | Due to the decrease of cash paid for debt repayment. |
II. Shareholders Information
1. Total number of common shareholders, preferred shareholders whose voting rightsrestored, and shareholding of top 10 shareholders
Unit: Share
| Total number of common shareholders at the end of the reporting period | 62,443 | The total number of preferred shareholders whose voting rights has been restored at end of the reporting period（if any） | 0 | |||||
| Shareholding by Top 10 shareholders | ||||||||
| Name of the shareholder | Nature of shareholder | Proportion of shares held | Quantity of shares | Amount of restricted shares held | Number of share pledged/frozen | |||
| State of share | Quantity | |||||||
| Benxi Steel & Iron (Group) Co., Ltd. | State-owned legal person | 58.65% | 2,409,628,094 | Pledged | 1,545,545,000 | |||
| Frozen | 108,326,179 | |||||||
| Bengang Group Co., Ltd. | State-owned legal person | 17.95% | 737,371,532 | |||||
| Zhang Wenyou | Domestic natural person | 0.47% | 19,149,967 | |||||
| Lyu Ruijun | Domestic natural person | 0.37% | 15,005,100 | |||||
| MORGAN STANLEY & CO. INTERNATIONAL PLC | Overseas legal person | 0.32% | 12,999,919 | |||||
| Hong Kong Securities Clearing Company Ltd. | Overseas legal person | 0.30% | 12,281,180 | |||||
| Huatai Securities Co., Ltd. | State-owned legal person | 0.28% | 11,429,581 | |||||
| Mao Weisong | Domestic natural person | 0.22% | 9,212,619 | |||||
| China Merchants | Others | 0.19% | 7,857,460 | |||||
| Bank – Hua’an Anhua Flexible Allocation of Mixed Securities Investment Funds | ||||||
| China Construction Bank – Huaxia Advantage Growth Mixed Securities Investment Fund | Others | 0.18% | 7,528,266 | |||
| Shareholding of top 10 shareholders of unrestricted shares | ||||||
| Name of the shareholder | Number of non-restricted common shares held at the period-end | Category of shares | ||||
| Category of shares | Quantity | |||||
| Benxi Steel & Iron (Group) Co., Ltd. | 2,409,628,094 | Common shares in RMB | 2,409,628,094 | |||
| Bengang Group Co., Ltd. | 737,371,532 | Common shares in RMB | 737,371,532 | |||
| Zhang Wenyou | 19,149,967 | Common shares in RMB | 19,149,967 | |||
| Lyu Ruijun | 15,005,100 | Common shares in RMB | 15,005,100 | |||
| MORGAN STANLEY & CO. INTERNATIONAL PLC | 12,999,919 | Overseas listed foreign share | 12,999,919 | |||
| Hong Kong Securities Clearing Company Ltd. | 12,281,180 | Common shares in RMB | 12,281,180 | |||
| Huatai Securities Co., Ltd. | 11,429,581 | Common shares in RMB | 11,429,581 | |||
| Mao Weisong | 9,212,619 | Common shares in RMB | 9,212,619 | |||
| China Merchants Bank – Hua’an Anhua Flexible Allocation of Mixed Securities Investment Funds | 7,857,460 | Common shares in RMB | 7,857,460 | |||
| China Construction Bank – Huaxia Advantage Growth Mixed Securities Investment Fund | 7,528,266 | Common shares in RMB | 7,528,266 | |||
| Related-parties or | Benxi Steel & Iron (Group) Co., Ltd. and Bengang Group Co., Ltd. are related parties and | |||||
| acting-in-concert parties among the above-mentioned shareholders | action-in-concert parties as defined in “Measures for the Administration of the Takeover of Listed Companies” . It is unknown to the Company whether there is any other related parties or action-in-concert parties as defined in “Measures for the Administration of the Takeover of Listed Companies”among the above-mentioned shareholders. |
| Shareholders among the top 10 participating in securities margin trading (if any) | Bengang Group Co., Ltd. holds 182,842,883 shares of the company through an ordinary securities account, and holds 554,528,649 shares through asset management plan, therefore, it holds a total of 737,371,532 shares. Zhang Wenyou holds 19,149,967 shares of the company through an investor's credit securities account. Lyu Ruijun holds 5,100 shares of the company through an ordinary securities account, and holds 15,000,000 shares of the company through an investor's credit securities account. |
2. Total Number of Preferred Shareholders and Shareholding of Top 10 Preferred
Shareholders
□ Applicable √ Not applicable
III. Other Major Events
√ Applicable □ Not applicable
On July 15, 2021, the Company's indirect controlling shareholder Bengang Group Co., Ltd. andLiaoning Provincial Engineering Consulting Group Co., Ltd., Liaoning Provincial Urban and RuralConstruction Group Co., Ltd., and Liaoning Rongda Investment Co., Ltd. signed the "Trust BeneficialRight Free Transfer Agreement", the Provincial Engineering Consulting Group, the Provincial Urbanand Rural Construction Group, and Liaoning Rongda transferred the relevant trust beneficiary rightsheld by them to Bengang Group Co., Ltd. for free. After the completion of this transfer, BengangGroup and its action-in-concerts party Benxi Steel and Iron (Group) Co., Ltd. held the Company’sequity shares increased by 14.28% to a total of 76.30%. For details, please refer to the "ReminderAnnouncement of Bengang Steel Plates Co., Ltd. on Changes in Shareholders' Equity" disclosed on thedesignated information disclosure media by the Company on July 17, 2021.
On July 30, 2021, the Company’s indirect controlling shareholder Bengang Group Co., Ltd. andLiaoning Communications Investment Co., Ltd. signed the “Listed Company Shares Free TransferAgreement”. Liaoning Communications Investment Co., Ltd. transferred 182,842,883 shares of theCompany to Bengang Group for free. After this transfer, Bengang Group and its action-in-concertsparty Benxi Steel and Iron (Group) Co., Ltd. held the Company’s equity shares increased by 4.71% to atotal of 81.00%. For details, please refer to the "Reminder Announcement of Bengang SteelPlates Co., Ltd. on the Gratuitous Transfer of Part of the State-owned Equity and Changes inShareholders' Equity" disclosed on the designated information disclosure media by the Company onJuly 31, 2021.
On August 16, 2021, the indirect controlling shareholder of the Company completed the above tworegistration procedures for free transfer. Bengang Group directly holds 182,842,883 shares of theCompany, accounting for 4.71% of the Company’s total share capital, through CCB Fund-Industrialand Commercial Bank of China -China Resources Shenzhen Investment-China Resources Trust
Xingsheng No. 5 Collective Fund Trust Plan, China Life Security Fund-Industrial and CommercialBank of China-China Life Security-Huaxin Trust Dingzeng No. 10 Asset Management Plan, BeixinRuifeng Fund-China Merchants Bank-Beixin Ruifeng Fund Fengqing No. 229 asset management planindirectly holds 554,528,649 shares of the Company, accounting for 14.28% of the Company’s totalshare capital, and holding 2,409,628,094 shares of the Company through its holding subsidiary BenxiSteel and Iron (Group) Co., Ltd., accounting for 62.02% of the Company's total share capital. Theshares held by Bengang Group and Benxi Steel and Iron in the Company account for a total of 81.00%of the Company's issued shares. For details, please refer to the "Announcement on Completion ofTransfer Registration for Free Transfer of State-Owned Shares of Company Shareholders" disclosed bythe Company on the designated information disclosure media on August 20, 2021.
On April 15, 2021, the company received a notice from the indirect controlling shareholder BengangGroup Co., Ltd. that it was informed that Ansteel Group Co., Ltd. is planning to reorganize theBengang Group, which may lead to changes in the company's control rights. The reorganization is stillin the planning stage, and the approval of relevant departments is still required after the plan isfinalized. For details, please refer to the "Indicative Announcement on the Strategic Restructuring ofthe Indirect Controlling Shareholder Bengang Group Co., Ltd." published on the designatedinformation disclosure media by the company on April 15, 2021.
On August 18, 2021, the State-owned Assets Supervision and Administration Commission of the StateCouncil and the People's Government of Liaoning Province jointly issued a notice agreeing thatAnsteel Group Co., Ltd. will reorganize Bengang Group Co., Ltd., and the Liaoning ProvincialState-owned Assets Supervision and Administration Commission will transfer 51% equity of BengangGroup to Ansteel Group for free. The transfer still needs to perform the necessary procedures, and thereis still uncertainty about whether the relevant approval can be obtained and whether the transfer can beimplemented smoothly. For details, please refer to the Announcement “Approval by the State-ownedAssets Supervision and Administration Commission of the State Council and the People's Governmentof Liaoning Province on the free transfer of 51% equity of Bengang Group by its indirect controllingshareholder” published on the designated information disclosure media by the company on August 19,2021 ".
On August 20, 2021, the State-owned Assets Supervision and Administration Commission of thePeople's Government of Liaoning Province, indirect controlling shareholder of the company and with80% of the Bengang Group’s share, and Ansteel Group Co., Ltd., which is 100% owned by theState-owned Assets Supervision and Administration Commission of the State Council signed theagreement: "Agreement on the Gratuitous Transfer of State-owned Equity of Bengang Group Co., Ltd.between the State-owned Assets Supervision and Administration Commission of the People'sGovernment of Liaoning Province and Ansteel Group Co., Ltd.". According to the agreement, theState-owned Assets Supervision and Administration Commission of Liaoning Province will transfer its51% equity in Bengang Group to Ansteel Group for free. After the completion of this transfer, AnsteelGroup will become the controlling shareholder of Bengang Group. Ansteel Group indirectly controls
81.07% of the company’s shares through Bengang Group, Benxi Iron and Steel (Group) Co., Ltd. andAnsteel Group Capital Holding Co., Ltd. For details, please refer to relevant announcement “About theFree Transfer of 51% equity in Bengang Group from the State-owned Assets Supervision and
Administration Commission of the People’s Government of Liaoning Province to Ansteel Group Co.,Ltd. and Indicative Announcement of Ansteel Group Becoming the Company’s Indirect ControllingShareholder”、“Condensed Statement of Changes in Equity”and“the Acquisition Report”publishedon the designated information disclosure media on August 21, 2021 and August 24, 2021.
On October 12, 2021, the Company handled the business and commerce change registration procedures.Ansteel Group Co., Ltd. is the holding shareholder of Bengang Group Co., Ltd., and indirectly holdsthe Company’s 76.67% shares through Bengang Group Co., Ltd., Benxi Steel and Iron (Group) Co.,Ltd., and Ansteel Group Capital Holdings Co., Ltd. Benxi Steel and Iron (Group) Co., Ltd. holds 58.65%of the Company’s share and is still the company's direct controlling shareholder. For details, pleaserefer to “Announcement on the transfer of 51% equity of Bengang Group Co., Ltd. to Ansteel GroupCo., Ltd. for free from the State-owned Assets Supervision and Administration Commission of thePeople's Government of Liaoning Province and change of business registration and Ansteel Group hasbecome the Company’s Indirect Controlling Shareholder” disclosed on the designated informationdisclosure media by the Company on October 13, 2021.IV. Quarterly Financial Statements
1. Financial Statements
(1) CONSOLIDATED STATEMENT OF FINANCIAL POSITION
Prepared by: Bengang Steel Plates Co., Ltd.
Unit: Yuan
| Items | Sep 30th , 2021 | Dec 31st, 2020 |
| Current assets: | ||
| Cash at bank and on hand | 10,080,139,668.54 | 13,126,666,915.26 |
| Settlement provisions | ||
| Capital lent | ||
| Financial assets held for trading | ||
| Derivative financial assets | ||
| Notes receivable | ||
| Accounts receivable | 228,758,480.20 | 245,217,182.66 |
| Accounts receivable financing | 6,263,850,964.34 | 4,189,977,871.92 |
| Prepayments | 2,189,540,560.96 | 2,108,044,777.65 |
| Premium receivable | ||
| Reinsurance accounts receivable | ||
| Receivable deposit for reinsurance contract | ||
| Other receivables: | 139,699,442.16 | 142,101,351.27 |
| Items | Sep 30th , 2021 | Dec 31st, 2020 |
| Including: Interest receivables | ||
| Dividend receivables | ||
| Redemptory financial assets for sale | ||
| Inventories | 10,942,381,569.72 | 9,040,065,342.65 |
| Contract assets | ||
| Assets classified as held for sale | ||
| Non-current assets due within one year | ||
| Other current assets | 5,648,602,000.48 | 5,523,646,836.01 |
| Total current assets | 35,492,972,686.40 | 34,375,720,277.42 |
| Non-current assets: | ||
| Loan and advances issued | ||
| Debt investments | ||
| Other debt investments | ||
| Long-term receivables | ||
| Long-term equity investments | 3,024,013.88 | 2,742,064.73 |
| Other equity instrument investments | 1,042,024,829.00 | 1,042,024,829.00 |
| Other non-current financial assets | ||
| Investment properties | ||
| Fixed assets | 25,278,314,427.01 | 26,284,567,956.44 |
| Construction in progress | 2,607,076,937.56 | 1,839,933,715.58 |
| Productive biological assets | ||
| Oil and gas assets | ||
| Right of use assets | 1,494,873,912.99 | 0.00 |
| Intangible assets | 299,766,591.44 | 264,932,652.54 |
| Development expenditure | ||
| Goodwill | ||
| Long-term deferred expenses | ||
| Deferred tax assets | 199,553,629.68 | 201,708,932.84 |
| Other non-current assets | 834,875,615.36 | 995,840,320.65 |
| Total non-current assets | 31,759,509,956.92 | 30,631,750,471.78 |
| Total assets | 67,252,482,643.32 | 65,007,470,749.20 |
| Current Liabilities: | ||
| Short-term loans | 7,971,523,080.00 | 10,067,731,000.00 |
| Items | Sep 30th , 2021 | Dec 31st, 2020 |
| Loan from central bank | ||
| Absorbed deposit and interbank deposit | ||
| Financial liabilities held for trading | ||
| Derivative financial liabilities | ||
| Notes payable | 5,538,169,802.42 | 9,814,149,348.42 |
| Accounts payable | 5,546,537,956.80 | 5,914,228,256.82 |
| Advance from customers | ||
| Contract Liabilities | 7,196,202,225.99 | 4,458,671,819.90 |
| Financial assets sold for repurchase | ||
| Deposits from customers and interbank | ||
| Acting trading securities | ||
| Acting underwriting securities | ||
| Employee benefits payable | 35,651,981.96 | 25,749,485.25 |
| Current tax liabilities | 455,898,707.17 | 55,302,080.96 |
| Other payables | 2,455,666,846.20 | 709,448,301.92 |
| Including: Interest payables | ||
| Dividend payables | ||
| Handling charges and commission payable | ||
| Reinsurance accounts payable | ||
| Liabilities held for sale | ||
| Non-current liabilities due within one year | 51,947,695.58 | 1,308,030,361.43 |
| Other current liabilities | 935,506,289.38 | 579,627,336.58 |
| Total current liabilities | 30,187,104,585.50 | 32,932,937,991.28 |
| Non-current liabilities: | ||
| Provision for insurance contract | ||
| Long-term loans | 4,579,118,668.08 | 3,502,934,427.65 |
| Bonds payable | 4,822,914,012.92 | 5,752,229,339.52 |
| Including: Preferred stock | ||
| Perpetual bond | ||
| Lease liabilities | 1,561,248,844.56 | 0.00 |
| Long-term payables | 1,633,651,296.25 | 1,114,232,362.74 |
| Long-term employee benefits payables |
| Items | Sep 30th , 2021 | Dec 31st, 2020 |
| Estimated liabilities | ||
| Deferred income | 107,319,194.89 | 154,451,833.23 |
| Deferred tax liabilities | ||
| Other non-current liabilities | ||
| Total non-current liabilities | 12,704,252,016.70 | 10,523,847,963.14 |
| Total liabilities | 42,891,356,602.20 | 43,456,785,954.42 |
| Shareholders’ equity: | ||
| Share capital | 4,108,157,357.00 | 3,875,371,532.00 |
| Other equity instruments | 947,914,214.97 | 1,146,290,662.42 |
| Including: Preferred stock | ||
| Perpetual bond | ||
| Capital reserves | 13,272,014,325.94 | 12,343,209,847.29 |
| Less: treasury shares | ||
| Other comprehensive income | ||
| Special reserves | 22,331,804.29 | 300,412.14 |
| Surplus reserves | 961,105,529.85 | 961,105,529.85 |
| General risk reserves | ||
| Undistributed profits | 4,488,203,283.77 | 2,692,018,405.40 |
| Total equity attributable to equity holders of the parent company | 23,799,726,515.82 | 21,018,296,389.10 |
| Non-controlling interests | 561,399,525.30 | 532,388,405.68 |
| Total shareholder’s equity | 24,361,126,041.12 | 21,550,684,794.78 |
| Total liabilities and shareholder’s equity | 67,252,482,643.32 | 65,007,470,749.20 |
Legal Representative: Gao Lie Person in charge of accounting: Lin Dong Accounting Dept. Leader: Li Xiaowei
(2) CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME FROM THE BEGINNING OFTHE YEAR TO THE END OF THE CURRENT REPORTING PERIOD
Unit: Yuan
| Items | The Current Period | The Previous Period |
| 1. Total operating income | 61,427,400,512.67 | 34,851,837,404.98 |
| Including: Operating income | 61,427,400,512.67 | 34,851,837,404.98 |
| Interest income | ||
| Premium earned | ||
| Income from handling charges |
| Items | The Current Period | The Previous Period |
| and commission | ||
| 2. Total operating cost | 56,367,721,090.19 | 34,609,468,735.28 |
| Including: Operating cost | 54,691,627,964.85 | 32,609,871,008.54 |
| Interest cost | ||
| Expenditure for handling charges and commission | ||
| Surrender value | ||
| Net expenditure for compensation | ||
| Net provision for insurance contract appropriated | ||
| Bonus payment for policy | ||
| Reinsurance premium | ||
| Taxes and surcharges | 365,653,671.57 | 141,762,794.46 |
| Selling and distribution expenses | 98,415,483.34 | 897,523,316.86 |
| General and administrative expenses | 645,762,206.23 | 581,349,923.65 |
| Research and development expenses | 36,192,795.55 | 29,262,450.81 |
| Financial expenses | 530,068,968.65 | 349,699,240.96 |
| Including: interest expenses | 815,172,965.12 | 700,850,334.78 |
| Interest incomes | 297,771,911.33 | 245,883,963.84 |
| Add: Other incomes | 48,806,758.34 | 57,452,382.09 |
| Income on investment ("-" for loss) | 2,610,325.33 | 106,546.47 |
| Including: Income from associates and joint ventures | 281,949.15 | 29,304.00 |
| Income from derecognition of financial assets measured at amortised cost | ||
| Exchange Income ("-" for loss) | ||
| Hedging income from net exposure (“-" for loss) | ||
| Gains from the change in fair value (“-" for loss) | ||
| Expected credit losses (“-" for loss) | 2,049,977.83 | 4,881,916.63 |
| Asset impairment losses (“-" for loss) | 6,629,442.12 | 33,104,544.46 |
| Assets disposal gains（“-” for loss） | 130,675.05 | 394,334.81 |
| Items | The Current Period | The Previous Period |
| 3. Operating profit ("-" for loss) | 5,119,906,601.15 | 338,308,394.16 |
| Add: Non-operating income | 4,758,875.68 | 1,744,482.36 |
| Less: Non-operating expenses | 35,285,298.89 | 20,275,186.23 |
| 4. Total profit ("-" for loss) | 5,089,380,177.94 | 319,777,690.29 |
| Less: Income tax expenses | 1,283,381,274.28 | 31,610,231.55 |
| 5. Net Profit ("-" for loss) | 3,805,998,903.66 | 288,167,458.74 |
| (1) Classification by continuing operating | ||
| 1 Net profit from continuing operation ("-" for loss) | 3,805,998,903.66 | 288,167,458.74 |
| 2 Net profit from discontinued operation ("-" for loss) | ||
| (2) Classification by ownership | ||
| 1 Net profit attributable to the owners of parent company | 3,777,468,896.19 | 283,509,289.10 |
| 2 Net profit attributable to non-controlling shareholders | 28,530,007.47 | 4,658,169.64 |
| 6. Other comprehensive income after tax | ||
| Other comprehensive income attributable to owners of parent company after tax | ||
| 1) Other comprehensive income items that will not be reclassified into gains/losses | ||
| (1) . Re-measurement of defined benefit plans of changes in net debt or net assets | ||
| (2) . Other comprehensive income under the equity method cannot be reclassified into profit or loss | ||
| (3). Changes of fair value of other equity instrument investments | ||
| (4). Changes in the fair value of the company's own credit risk | ||
| (5). Others | ||
| 2) Other comprehensive income that will be reclassified into profit or loss | ||
| (1) . Other comprehensive income under the equity method can be reclassified |
| Items | The Current Period | The Previous Period |
| into profit or loss | ||
| (2). Gains and losses from fair value changes of other debt investments | ||
| (3). Gains and losses resulting from reclassification of financial assets recognised in other comprehensive income | ||
| (4). Credit impairment losses of other debt investments | ||
| (5). Effective portion of gains or losses from cash flow hedging | ||
| (6). Translation differences in foreign currency financial statements | ||
| (7). Others | ||
| Other comprehensive income attributable to non-controlling shareholders after tax | ||
| 7. Total comprehensive income | 3,805,998,903.66 | 288,167,458.74 |
| Total comprehensive income attributable to owners of parent company | 3,777,468,896.19 | 283,509,289.10 |
| Total comprehensive income attributable to non-controlling shareholders | 28,530,007.47 | 4,658,169.64 |
| 8. Earnings per share: | ||
| 1) Basic earnings per share | 0.92 | 0.07 |
| 2) Diluted earnings per share | 0.92 | 0.07 |
The current business combination under common control, the net profits of the combined party before achieved: Yuan, net profitof previous period of the combined party realized: Yuan.Legal Representative: Gao Lie Person in charge of accounting: Lin Dong Accounting Dept. Leader: Li Xiaowei
(3) CONSOLIDATED STATEMENT OF CASH FLOWS FROM THE BEGINNING OF THE YEAR TOTHE END OF THE CURRENT PERIOD
Unit: Yuan
| Items | The Current Period | The Previous Period |
| 1. Cash flow from operating activities: | ||
| Cash received from sale of goods or rendering of services | 41,226,627,487.11 | 25,444,022,450.66 |
| Net increase of customers’ deposit and interbank deposit | ||
| Net increase of loan from central bank |
| Items | The Current Period | The Previous Period |
| Net increase of loans from other financial institutions | ||
| Cash received for premium of original insurance contract | ||
| Net cash received for reinsurance business | ||
| Net increase of deposit and investment of the insured | ||
| Net increase of Financial assets at fair value through profit or loss | ||
| Cash from receiving interest, handling charge and commission | ||
| Net increase of loans from other financial institutions | ||
| Net increase of fund for buy-back business | ||
| Tax rebate received | 70,165,628.03 | 387,294,316.80 |
| Other cash received relating to operating activities | 149,425,573.60 | 168,025,766.48 |
| Subtotal of cash inflow received from operation activities | 41,446,218,688.74 | 25,999,342,533.94 |
| Cash paid for goods and services | 35,777,429,779.80 | 24,909,229,260.23 |
| Net increase of customer’s loan and advances | ||
| Net increase of deposit in central bank and interbank deposit | ||
| Cash for payment of compensation for original insurance contract | ||
| Net increase in funds lent | ||
| Cash for payment of interest, handling charge and commission | ||
| Cash for payment of policy bonus | ||
| Cash paid to and on behalf of employees | 1,636,542,380.28 | 1,408,629,415.56 |
| Cash paid for all types of taxes | 2,215,055,970.80 | 758,524,302.98 |
| Other cash paid relating to operating activities | 273,369,870.48 | 330,588,899.59 |
| Items | The Current Period | The Previous Period |
| Subtotal of cash outflow received from operation activities | 39,902,398,001.36 | 27,406,971,878.36 |
| Net cash flows generated from operating activities | 1,543,820,687.38 | -1,407,629,344.42 |
| 2. Cash flows from investing activities: | ||
| Cash received from return on investments | 6,100,000,000.00 | |
| Cash received from distribution of dividends or profit | 2,328,376.18 | |
| Net cash received from disposal of fixed assets, intangible assets and other long-term assets | 5,030.00 | |
| Net cash received from disposal of subsidiary and other operating units | ||
| Other cash paid relating to investing activities | ||
| Subtotal of cash inflow received from investing activities | 6,102,333,406.18 | |
| Cash paid for acquisition of fixed assets, intangible assets and other long-term assets | 1,792,294,739.50 | 1,765,038,590.65 |
| Cash paid for acquisition of investments | 6,200,000,000.00 | |
| Net increase of mortgage loan | ||
| Net cash received from subsidiary and other operating unit | ||
| Other cash paid relating to investing activities | ||
| Subtotal of cash outflows from investing activities | 7,992,294,739.50 | 1,765,038,590.65 |
| The net cash flow generated by investment activities | -1,889,961,333.32 | -1,765,038,590.65 |
| 3. Cash flows from financing activities: | ||
| Proceeds from investment | ||
| Including: Proceeds from investment of non-controlling shareholders of subsidiary | ||
| Proceeds from borrowings | 3,701,853,120.80 | 9,297,194,000.00 |
| Other proceeds relating to financing | 6,800,000,000.00 |
| Items | The Current Period | The Previous Period |
| activities | ||
| Subtotal cash inflow received from financing activities | 3,701,853,120.80 | 16,097,194,000.00 |
| Cash repayments of borrowings | 5,980,272,540.16 | 11,555,411,601.25 |
| Cash payments for distribution of dividends, profit or interest expenses | 875,026,918.89 | 956,166,264.68 |
| Including: Cash paid to non-controlling shareholders as dividend and profit by subsidiaries | ||
| Other cash payments relating to financing activities | 43,549,783.25 | |
| Subtotal of cash outflows from financing activities | 6,855,299,459.05 | 12,555,127,649.18 |
| The net cash flow generated by financing activities | -3,153,446,338.25 | 3,542,066,350.82 |
| 4. Effect of foreign exchange rate changes on cash and cash equivalents | -15,919,852.00 | -12,482,658.90 |
| 5. Net increase in cash and cash equivalents | -3,515,506,836.19 | 356,915,756.85 |
| Add: Cash and cash equivalents at the beginning of the period | 9,229,417,595.12 | 13,441,414,988.58 |
| 6. Cash and cash equivalents at the ending of the period | 5,713,910,758.93 | 13,798,330,745.43 |
2. Adjustments of Financial Statements
(1) Adjustments of beginning balance due to the first-time implementation of new lease standard from 2021
√ Applicable □ Not applicable
Whether to adjust the balance sheet accounts at the beginning of the year
√ Applicable □ Not applicable
CONSOLIDATED STATEMENT OF FINANCIAL POSITION
Unit: yuan
| Items | Dec 31st ,2020 | Jan 1st, 2021 | Adjustment amount |
| Current assets: | |||
| Cash at bank and on hand | 13,126,666,915.26 | 13,126,666,915.26 | |
| Settlement provisions | |||
| Capital lent | |||
| Financial assets held for trading |
| Items | Dec 31st ,2020 | Jan 1st, 2021 | Adjustment amount |
| Derivative financial assets | |||
| Notes receivable | |||
| Accounts receivable | 245,217,182.66 | 245,217,182.66 | |
| Accounts receivable financing | 4,189,977,871.92 | 4,189,977,871.92 | |
| Prepayments | 2,108,044,777.65 | 2,108,044,777.65 | |
| Premium receivable | |||
| Reinsurance accounts receivable | |||
| Receivable deposit for reinsurance contract | |||
| Other receivables: | 142,101,351.27 | 142,101,351.27 | |
| Including: Interest receivables | 33,685,359.01 | ||
| Dividend receivables | |||
| Redemptory financial assets for sale | |||
| Inventories | 9,040,065,342.65 | 9,040,065,342.65 | |
| Contract assets | |||
| Assets classified as held for sale | |||
| Non-current assets due within one year | |||
| Other current assets | 5,523,646,836.01 | 5,523,646,836.01 | |
| Total current assets | 34,375,720,277.42 | 34,375,720,277.42 | |
| Non-current assets: | |||
| Loan and advances issued | |||
| Debt investments | |||
| Other debt investments | |||
| Long-term receivables | |||
| Long-term equity investments | 2,742,064.73 | 2,742,064.73 | |
| Other equity instrument investments | 1,042,024,829.00 | 1,042,024,829.00 | |
| Other non-current financial assets | |||
| Investment properties | |||
| Fixed assets | 26,284,567,956.44 | 26,284,567,956.44 | |
| Construction in progress | 1,839,933,715.58 | 1,839,933,715.58 | |
| Productive biological assets |
| Items | Dec 31st ,2020 | Jan 1st, 2021 | Adjustment amount |
| Oil and gas assets | |||
| Right of use assets | 0.00 | 1,541,868,510.81 | 1,541,868,510.81 |
| Intangible assets | 264,932,652.54 | 264,932,652.54 | |
| Development expenditure | |||
| Goodwill | |||
| Long-term deferred expenses | |||
| Deferred tax assets | 201,708,932.84 | 201,708,932.84 | |
| Other non-current assets | 995,840,320.65 | 995,840,320.65 | |
| Total non-current assets | 30,631,750,471.78 | 32,173,618,982.59 | |
| Total assets | 65,007,470,749.20 | 66,549,339,260.01 | |
| Current Liabilities: | |||
| Short-term loans | 10,067,731,000.00 | 10,067,731,000.00 | |
| Loan from central bank | |||
| Absorbed deposit and interbank deposit | |||
| Financial liabilities held for trading | |||
| Derivative financial liabilities | |||
| Note payables | 9,814,149,348.42 | 9,814,149,348.42 | |
| Account payables | 5,914,228,256.82 | 5,914,228,256.82 | |
| Advance from customers | |||
| Contract liabilities | 4,458,671,819.90 | 4,458,671,819.90 | |
| Financial assets sold for repurchase | |||
| Deposits from customers and interbank | |||
| Acting trading securities | |||
| Acting underwriting securities | |||
| Employee benefits payable | 25,749,485.25 | 25,749,485.25 | |
| Current tax liabilities | 55,302,080.96 | 55,302,080.96 | |
| Other payables | 709,448,301.92 | 709,448,301.92 | |
| Including: Interest payables | |||
| Dividend payables |
| Items | Dec 31st ,2020 | Jan 1st, 2021 | Adjustment amount |
| Handling charges and commission payable | |||
| Reinsurance accounts payable | |||
| Liabilities held for sale | |||
| Non-current liabilities due within one year | 1,308,030,361.43 | 1,346,929,023.45 | 38,898,662.02 |
| Other current liabilities | 579,627,336.58 | 579,627,336.58 | |
| Total current liabilities | 32,932,937,991.28 | 32,971,836,653.30 | |
| Non-current liabilities: | |||
| Provision for insurance contract | |||
| Long-term loans | 3,502,934,427.65 | 3,502,934,427.65 | |
| Bonds payable | 5,752,229,339.52 | 5,752,229,339.52 | |
| Including: Preferred stock | |||
| Perpetual bond | |||
| Lease liabilities | 0.00 | 1,502,969,848.79 | 1,502,969,848.79 |
| Long-term payables | 1,114,232,362.74 | 1,114,232,362.74 | |
| Long-term employee benefits payables | |||
| Estimated liabilities | |||
| Deferred income | 154,451,833.23 | 154,451,833.23 | |
| Deferred tax liabilities | |||
| Other non-current liabilities | |||
| Total non-current liabilities | 10,523,847,963.14 | 12,026,817,811.93 | |
| Total liabilities | 43,456,785,954.42 | 44,998,654,465.23 | |
| Shareholders’ equity: | |||
| Share capital | 3,875,371,532.00 | 3,875,371,532.00 | |
| Other equity instruments | 1,146,290,662.42 | 1,146,290,662.42 | |
| Including: Preferred stock | |||
| Perpetual bond | |||
| Capital reserves | 12,343,209,847.29 | 12,343,209,847.29 | |
| Less: treasury shares | |||
| Other comprehensive income | |||
| Special reserves | 300,412.14 | 300,412.14 | |
| Surplus reserves | 961,105,529.85 | 961,105,529.85 |
| Items | Dec 31st ,2020 | Jan 1st, 2021 | Adjustment amount |
| General risk reserves | |||
| Undistributed profits | 2,692,018,405.40 | 2,692,018,405.40 | |
| Total equity attributable to equity holders of the parent company | 21,018,296,389.10 | 21,018,296,389.10 | |
| Non-controlling interests | 532,388,405.68 | 532,388,405.68 | |
| Total shareholder’s equity | 21,550,684,794.78 | 21,550,684,794.78 | |
| Total liabilities and shareholder’s equity | 65,007,470,749.20 | 66,549,339,260.01 |
Notes:
(2) Retroactive adjustment due to the first time implementation of the new lease standards
□ Applicable √ Not applicable
3. Audit report
Whether the third quarter report is audited
□ Yes √ No
The third quarter report is not audited.
Board of Directors of Bengang Steel Plates Co., Ltd.