Bengang Steel Plates Co., Ltd.
First Quarter Report 2020
April 2020
Ⅰ. Important NoticeThe Board of Directors, the Supervisory Committee and the Directors, members of theSupervisory Committee and senior management of the Company guarantee that thereare no misrepresentations or misleading statements, or material omission in this report,and individually and collectively accept full responsibility for the authenticity,accuracy and integrity of the information contained in this report.
All the members of the Board of Directors attended the board meeting on which thisreport was examined.
Gao Lie, Chairman of the Company, Shen Qiang, the principal in charge of theaccounting, and Zhao Zhonghua, Chief of Accounting Affairs, make the pledge for theauthenticity, accuracy and integrity of the attached financial statements.
II. Company Profile
I. Main Accounting data and Financial indexWhether the Company makes retroactive adjustment or restatement of the accounting data of the previous year
□ Yes √ No
Jan.-Mar. 2020 Jan.-Mar. 2019 Changes (+/-)Operating income（RMB）11,728,574,704.88
11,761,190,575.63
-0.28%
Net profit attributable to theshareholders of the listed company（RMB）
177,998,575.36
271,606,318.07
-34.46%
Net profit after deducting of non-recurring gain/loss attributable to theshareholders of listed company（RMB）
168,656,828.67
259,096,025.14
-34.91%
Net Cash flows generated by businessoperation（RMB）
684,846,620.22
2,752,557,195.47
-75.12%
Basic earnings per share (RMB/Share) 0.05
0.07
-28.57%
Diluted earnings per share(RMB/Share)
0.05
0.07
-28.57%
Weighted average net assets yield (%) 0.91%
1.41%
-0.50%
31 Mar. 2020 31 Dec 2019 Changes (+/-)Total assets（RMB）62,419,899,870.81
60,731,425,193.90
2.78%
Net assets attributable to shareholdersof the listed company（RMB）
19,673,088,666.96
19,487,665,261.17
0.95%
Items and amount of non-recurring profit and loss
√ Applicable □ Not applicable
Unit: RMB
Items Jan.-Mar. 2020 NotesProfit or loss from disposal of non-
(including the write-
| off part for which assets impairment |
provision is made)
-6,082,450.70
| Details of government subsidies recorded into current |
profits and loss（
18,439,817.04
| except such government subsidy closely related to the company’s normal business operation, |
certain standard）Other non-operating re
| meeting the regulation of national policy and enjoyed constantly in certain quota or quantity according to a |
| venue and expenditure other than |
above items
108,520.85
Less: Impact of income tax 3,116,471.80
Impact of minority interests (after tax) 7,668.70
Total 9,341,746.69
--
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-recurringprofit and loss items as illustrated in “the Explanatory Announcement No.1 on information disclosure for CompaniesOffering their Securities to the Public-Non-recurring Profits and Losses” which have been defined as recurring profitsand losses, it is necessary to 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-recurringProfits and Losses” in the report period.
II Total Number of Shareholders and Shareholding of Top 10 Shareholders
1. Total number of common shareholders, preferred shareholders whose voting rights restored, and
shareholding of top 10 shareholders
Unit: share
shareholders at the end of the
reporting period
52,784
The total number ofpreferred shareholdersvoting rights restored
| at the end of the reporting period |
(if any)
Shareholding by Top 10 shareholdersName of theshareholder
Nature ofshareholder
Proportion
of shares
held
Quantity of
shares
Amount of
restricted shares
held
Number of share pledged/frozenState of share QuantityBenxi Steel &Iron (Group)Co., Ltd.
State-owned legalperson
61.93%
| restricted shares | ||
2,399,831,394
Pledged 712,545,000
Frozen 102,100,000
LiaoningProvincialTransportation
State-owned legalperson
4.77%
184,842,883
InvestmentGroup Co., Ltd.CCB PrincipalAssetManagement –ICBC – CRTrust – CRTrust · XingSheng No. 5
Trust Plan
Others 4.77%
| Collective Fund |
184,842,883
Bei Xin RuiFeng Fund –ChinaMerchantsBank – Bei XinRui Feng FundFeng Qing No.229 AssetManagementPlan
Others
4.77%
184,842,883
China LifeAMP Fund–ICBC – ChinaLife AMP –Hua Xin TrustTargetedAdditionalShares IssuanceNo. 10 AssetManagementPlan
Others
4.77%
184,842,883
Fang Lei
person
0.36%
| Domestic natural |
14,126,600
Agriculturalbank of China -ChinaSecurities 500Trading Open
InvestmentFund
Others 0.30%
| Index Securities |
11,565,511
Fang Huaiyue
Domestic
person
0.24%
| natural |
9,205,501
Zhang Peng
person
0.21%
| Domestic natural |
8,287,900
VANGUARDEMERGINGMARKETSSTOCKINDEX FUND
Overseas legalperson
0.21%
8,157,311
Shareholding of top 10 shareholders of unrestricted sharesName of the shareholder
Number of non-
at the period-end
Category of shares
Category ofshares
QuantityBenxi Steel & Iron (Group) Co.,Ltd.
2,399,831,394
| restricted common shares held | |
| Common shares |
in RMB
2,399,831,394
Liaoning Provincial TransportationInvestment Group Co., Ltd.
184,842,883
| Common shares |
in RMB
184,842,883
CCB Principal Asset Management –
ICBC – CR Trust –
Sheng No. 5 Collective Fund TrustPlan
184,842,883
| CR Trust · Xing | Common shares |
in RMB
184,842,883
Bei Xin Rui Feng Fund – ChinaMerchants Bank – Bei Xin RuiFeng Fund Feng Qing No. 229Asset Management Plan
184,842,883
| Common shares |
in RMB
184,842,883
China Life AMP Fund– ICBC –China Life AMP – Hua Xin Trust
| Targeted Additional Shares Issuance |
No. 10 Asset Management Plan
184,842,883
| Common shares |
in RMB
184,842,883
Fang Lei 14,126,600
| Common shares |
in RMB
14,126,600
Agricultural bank of China - ChinaSecurities 500 Trading Open IndexSecurities Investment Fund
11,565,511
| Common shares |
in RMB
11,565,511
Fang Huaiyue 9,205,501
| Common shares |
in RMB
9,205,501
Zhang Peng 8,287,900
| Common shares |
in RMB
8,287,900
VANGUARD EMERGINGMARKETS STOCK INDEX
8,157,311
Foreign sharesplaced in
8,157,311
FUNDdomesticexchangeRelated-parties or acting-in-
parties among the above-
| mentioned |
shareholders
It is unknown to the Company whether there is any related connection or action-in-concert parties among the top 10 un-restricted shareholders.
Shareholders among the top 1
trading (if any)
Benxi Steel & Iron (Group) Co., Ltd. holds 2,160,831,394
| 0 participating in securities margin | shares of the company |
through an ordinary securities account, and holds 239,000,000
investor's credit securities account, therefore, it holds a total of 2,399,831,394
shares.Fang Lei holds 14,126,600 shares through the investor's credit securities account.
Fang Huaiyue holds 9,205,501
| shares through the investor's credit securities |
account.Zhang Peng holds 8,287,900 shares through the investor's credit securities account.
Whether top ten common shareholders or top ten common shareholders with unrestricted shares carried out any buy-backagreement dealing in the reporting period.
□ Yes √ No
Top ten common shareholders or top ten common shareholders with unrestricted shares did not carry out buy-backagreement dealing in the reporting period.
2. Number of total preferred shareholders and preferred shares hold by Top 10 preferred shareholders
□ Applicable √ Not applicable
III Important EventsⅠ. Major Changes in Financial Data and Financial Index and Reasons
√ Applicable □ Not applicable
? Significant changes and reasons in major accounting data, financial indicators which changed over 30%
compared to the consolidated financial statement at the end of 2018
1. Statement of Financial Position
Decrease
Reasons
Employee benefits payables
51%Due to the increase in unpaid bonuses in the currentperiod.
Tax payable
-91%Due to the decrease of VAT payable at the end of thisperiodNon-
Increase /current liabilities due within
one year
467%Due to the long-term borrowings reclassified
| current liabilities due within | into |
borrowings due within one year.Special reserves
3491%Due to the increase in the unused amount of the safety
production cost in this period.
? Significant changes and reasons in major accounting data, financial indicators which changed over 30%
compared to the consolidated financial statement of the first quarter of 2019
income
| 2. Statement of comprehensive | Increase / |
Decrease
Reasons
Research and development expenses
201%
| Due to the increase of Research and development |
expensesFinancial expenses215%Due to the increase of net exchange lossesNon-operating income
-91%Due to the decrease of gains from scrapping of non-
current assetsIncome tax expenses-92%Due to the decrease of deferred income tax expenses
3. Statement of cash flows
Decrease
ReasonsTax rebate received-90%Due to the decrease of tax refund in the period.Cash paid for goods and services
65%Due to the increase of cash paid for goods and services
during the periodCash received from borrowings-42%Due to the decrease of cash received from the loan
II. Progress and influence of significant events, as well as the analysis and explanation on
solutions
□ Applicable √ Not applicable
Progress in the implementation of share repurchase
□ Applicable √ Not applicable
Progress in the implementation of the reduction of shareholding shares by means of centralized bidding
□ Applicable √ Not applicable
III. The Under-Fulfillment Commitments by the End of the Period Made by Actual Controller,Acquirer, Director, Supervisor, Senior Management Personnel and other Related Parties.
□ Applicable √ Not applicable
There is no under-fulfillment commitment by the end of the period made by actual controller, acquirer, director, supervisor,senior management personnel and other related parties.IV. Investment in Securities
□ Applicable √ Not applicable
There is no securities investments in the reporting period.V. Entrusted Financing
□ Applicable √ Not applicable
There is no entrusted financing in the reporting period.VI. Investment in Derivatives
□ Applicable √ Not applicable
There is no investment in derivatives in the reporting period.
VII. Registration form of Activities such as Research, Communication, Interview in this
Reporting Period
□ Applicable √ Not applicable
There is no researches, visits and interviews received in the reporting period.
VIII. Violation of Regulations in Provision of External Guaranty
□ Applicable √ Not applicable
There is no violation of regulations in provision of external guaranty during the reporting period.
IX. Illustrations of Non-Operating Occupation of Funds by the Controlling Shareholder and
Related Parties
□ Applicable √ Not applicable
There is no non-operating occupation of funds by the controlling shareholder and related parties.
Ⅳ Financial StatementⅠ. Financial Statement
1. CONSOLIDATED STATEMENT OF FINANCIAL POSITION
Prepared by: Bengang Steel Plates Co., Ltd.
31 March 2020
Unit: RMBItem 20200331 20191231Current assetCash at bank and on hand 18,611,052,503.58
18,415,844,397.77
Settlement provisions
Capital lent
Financial assets held for trading
Derivative financial assets
Notes receivable
Accounts receivable 232,614,258.60
235,696,265.66
Accounts receivable financing 2,473,220,274.48
2,429,542,461.88
Prepayments 1,392,687,864.84
1,291,047,458.11
Premium receivable
Reinsurance accounts receivable
| Receivable deposit for reinsurance |
contract
Other receivables 155,248,729.02
172,807,036.77
Including：Interest receivable28,512,792.47
20,504,422.47
Dividend receivable
Redemptory financial assets for sale
Inventories 9,439,699,017.97
7,700,397,685.61
Contract assets
Assets held for sale
Non-current assets due within one year
Other current assets 400,600,544.18
312,904,824.09
Total current assets 32,705,123,192.67
30,558,240,129.89
Non-current assets
Loan and advances issued
Other debt investments
Long-term receivables
Long-term equity investments 2,642,998.70
2,642,998.70
Other equity investments 1,041,824,829.00
1,041,824,829.00
Other non-current financial assets
Investment property
Fixed assets 25,542,660,272.96
26,123,375,492.40
Construction in progress 2,025,822,529.81
1,833,853,572.58
Productive biological assets
Oil and gas assets
Right-of-use assets
Intangible assets 269,858,180.64
271,500,023.34
Development expenditure
Goodwill
Long-term deferred expenses
Deferred tax assets 196,287,482.97
191,485,595.49
Other non-current assets 635,680,384.06
708,502,552.50
Total non-current assets 29,714,776,678.14
30,173,185,064.01
Total assets 62,419,899,870.81
60,731,425,193.90
Current LiabilitiesShort-term loans 12,488,319,016.67
13,151,478,000.00
Loan from central bank
Loan from other financial institutions
Financial liability held for trading
Derivative financial liabilities
Notes payable 13,201,833,849.84
11,828,514,676.95
Accounts payable 5,720,913,243.49
4,527,513,030.27
Advance from customers
4,429,821,526.79
Contract liabilities 4,260,272,248.28
Financial assets sold for repurchase
Absorbed deposit and interbank deposit
| Receiving from vicariously traded |
securities
Receiving from vicariously sold securities
Employee benefits payable 35,811,406.53
23,698,174.56
Current tax liabilities 26,385,011.76
284,825,814.80
Other payables 609,103,222.84
662,701,744.97
Including：Interest payable3,697,500.00
10,818,986.30
Dividend payable
| Handling charges and commission |
payable
Reinsurance accounts payable
Liabilities held for sale
Non-current liabilities due within one year
1,328,998,543.11
234,474,657.99
Other current liabilities
Total current liabilities 37,671,636,542.52
35,143,027,626.33
Non-current liabilitiesStandard insurance contract provision
Long-term loans 3,723,490,441.11
4,849,675,910.73
Bonds payable
Including: Preferred stock
Perpetual bond
Lease liabilities
Long-term payables 634,349,715.78
516,939,408.14
Long-term employee benefits payable
Estimated liabilities
Deferred income 191,042,271.50
208,955,407.30
Deferred tax liabilities
Other non-current liabilities
Total non-current liabilities 4,548,882,428.39
5,575,570,726.17
Total liabilities 42,220,518,970.91
40,718,598,352.50
Shareholders’ equityShare capital 3,875,371,532.00
3,875,371,532.00
Other equity instruments
Including: Preferred stock
Perpetual bond
Capital reserve 12,343,209,847.29
12,343,209,847.29
Less: treasury shares
Other comprehensive income
Special reserves 7,637,517.84
212,687.41
Surplus reserves 961,105,529.85
961,105,529.85
General risk reserve
Undistributed profits 2,485,764,239.98
2,307,765,664.62
| Total equity attributable to equity holders |
of the parent company
19,673,088,666.96
19,487,665,261.17
Non-controlling interests 526,292,232.94
525,161,580.23
Total shareholder's equity 20,199,380,899.90
20,012,826,841.40
Total of liabilities and owners’ equity 62,419,899,870.81
60,731,425,193.90
Legal Representative: Gao Lie Chief Financial Officer: Shen Qiang Chief Accountant: Zhao Zhonghua
2. STATEMENT OF FINANCIAL POSITION
Unit: RMBItems 20200331 20191231Current assetCash at bank and on hand 17,249,452,518.01
16,982,227,928.89
Financial assets held for trading
Derivative financial assets
Notes receivable
Account receivable 373,512,311.34
388,997,108.46
Accounts receivable financing 2,412,082,647.33
2,193,319,842.60
Prepayments 1,292,687,864.84
1,184,632,345.13
Other receivables 224,486,192.61
266,663,235.81
Including: Interest receivables 27,736,734.91
19,658,230.77
Dividend receivables
Inventories 7,289,530,576.82
6,114,582,832.33
Contract assets
Assets held for sale
Non-current assets due within one year
Other current assets 326,793,046.13
191,249,460.42
Total current assets 29,168,545,157.08
27,321,672,753.64
Non-current assetsDebt investment
Other debt investments
Long-term receivables
Long-term equity investments 2,016,281,902.16
2,016,281,902.16
Other equity investments 1,041,624,829.00
1,041,624,829.00
Other non-current financial assets
Investment properties
Fixed assets 23,915,103,997.64
24,447,763,305.12
Construction in progress 2,012,088,328.09
1,813,889,136.42
Productive biological assets
Oil and gas assets
Right-of-use assets
Intangible assets 144,643,506.36
145,470,040.68
Development expenditure
Goodwill
Long-term deferred expense
Deferred tax assets 98,357,164.02
93,555,276.54
Other non-current assets 627,075,877.48
696,351,867.38
Total non-current assets 29,855,175,604.75
30,254,936,357.30
Total assets 59,023,720,761.83
57,576,609,110.94
Current liabilities
Short-term loans 11,188,319,016.67
11,851,478,000.00
Financial liability held for trading
Derivative financial liabilities
Notes payable 11,538,620,936.62
10,225,969,445.22
Account payable 6,045,084,178.94
4,909,389,629.86
Advance from customers
5,597,707,687.22
Contract liability 5,263,303,246.87
Employee benefits payable 34,670,302.86
21,872,906.71
Current tax liabilities 13,096,514.24
274,181,048.14
Other payables 395,023,906.30
384,125,032.59
Including：Interest payables3,697,500.00
10,818,986.30
Dividend payables
Liabilities held for sale
Non-
year
1,328,998,543.11
| current liabilities due within one |
234,474,657.99
Other current liabilities
Total current liability 35,807,116,645.61
33,499,198,407.73
Non-current liabilityLong term loans 3,723,490,441.11
4,849,675,910.73
Bonds payable
Including: Preferred stock
Perpetual bond
Lease liabilities
Long-term payables 634,349,715.78
516,939,408.14
Long-term employee benefits payables
Estimated liabilities
Deferred income 191,042,271.50
208,955,407.30
Deferred tax liabilities
Other non-current liabilities
Total non-current liabilities 4,548,882,428.39
5,575,570,726.17
Total liabilities 40,355,999,074.00
39,074,769,133.90
Shareholder’s equity:
Share capital 3,875,371,532.00
3,875,371,532.00
Other equity instruments
Including: Preferred stock
Perpetual bond
Capital reserves 11,923,058,165.17
11,923,058,165.17
Less: Treasury shares
Other comprehensive income
Special reserves 6,224,392.44
53,330.99
Surplus reserves 961,105,529.85
961,105,529.85
Undistributed Profits 1,901,962,068.37
1,742,251,419.03
Total shareholder's equity 18,667,721,687.83
18,501,839,977.04
| Total liabilities and shareholder’s |
equity
59,023,720,761.83
57,576,609,110.94
3. CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
Unit: RMBItem Jan.-Mar. 2020 Jan.-Mar. 2019
1. Total operating income
11,728,574,704.88
11,761,190,575.63
Including: Operating income 11,728,574,704.88
11,761,190,575.63
Interest income
Premium earned
and commission
| Income from handling charges |
2. Total operating cost 11,541,446,733.82
11,490,405,098.16
Including: Operating cost 10,759,718,222.36
11,082,217,546.55
Interest expense
and commission
| Expenditure for handling charges |
Surrender value
Net expenditure for compensation
contract appropriated
| Net provision for insurance |
Bonus payment for policy
Reinsurance premium
Tax and surcharges 51,561,831.30
54,057,558.75
Selling and distribution expenses 315,712,277.98
312,825,124.15
expenses
185,915,642.34
| General and administrative |
229,520,730.11
| Research and development |
expenses
8,416,671.23
2,797,993.86
Financial expenses 220,122,088.61
-191,013,855.26
Including: Interest expense 246,021,732.55
293,019,846.37
Interest income 72,914,133.66
67,726,988.83
Add: Other income 18,439,817.04
20,821,500.00
Income on investment（“-” for loss）
| Including: Income from associates and |
joint ventures
| Income from derecognition of |
financial assets measured at amortized cost
Exchange gains
income （“-” for loss）
| Net exposure hedging |
fair value （“-” for loss）
| Gains from the change of | ||
| Credit impairment losses |
（“-” for loss
1,189,945.37
| Asset impairment losses |
(losses are listed with "-")
-20,397,495.27
Assets disposal gains（“-
for loss）
| ” |
2,097,867.55
3. Operational profit（“-” for loss）
186,360,238.20
293,704,845.02
Add: Non-operating income 282,400.25
3,075,607.08
Less: Non-operating expenses 6,256,330.10
7,215,029.01
4. Total profit (“-” for loss) 180,386,308.35
289,565,423.09
Less: Income tax expenses 1,460,096.83
18,343,089.25
5. Net profit（“-” for loss）
178,926,211.52
271,222,333.84
1.Classification by continuing operating
(
operation
178,926,211.52
| 1) Net profit from continuing |
271,222,333.84
(
| 2) Net profit from discontinued |
operation
2.Classification by ownership
(1) Net profit
owners of parent company
177,998,575.36
| attributable to the |
271,606,318.07
(2) Net profit attributable to non-controlling shareholders
927,636.16
-383,984.23
6. Other comprehensive income
attributable to
| owners of the 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 netassets
| (2) Other comprehensive income under the equity method investee cannot be |
reclassified into profit or loss
(3) Changes in the fair value of
equity investments
| other |
Corporate credit risk
| (4) Changes in the fair value of |
(5) Others
| 2.Other comprehensive income that will be |
reclassified into profit or loss
or loss afterwards under equity method
| (1) Share of other comprehensive income of investee to be classified into profit |
debt investments
| (2) Changes in the fair value of other |
(3
assets at fair
| value through other |
comprehensive income
investments
| (4) Provision for credit loss of other debt |
(5) Cash flow hedge reserve
(6) Translation differences in
currency financial statements
| foreign |
(7) Others
Other
non-controlling shareholders after tax
| comprehensive income attributable to |
7. Total comprehensive income 178,926,211.52
271,222,333.84
company
177,998,575.36
| Total comprehensive income attributable to the owner of the parent |
271,606,318.07
| Total comprehensive income |
attributable to non-controlling shareholders
927,636.16
-383,984.23
8. Earnings per share 1) Basic earnings per share 0.05
0.07
2) Diluted earnings per share 0.05
0.07
The current business combination under common control, the net profits of the combined party before achieved: 0.00Yuan,net profit of previous period of the combined party realized: 0.00Yuan.Legal Representative: Gao Lie Chief Financial Officer: Shen Qiang Chief Accountant: Zhao Zhonghua
4. STATEMENT OF COMPREHENSIVE INCOME
Unit: RMBItem Jan.-Mar. 2020 Jan.-Mar. 2019
1. Total operating income 12,263,353,879.66
11,318,044,807.71
Less: Operating cost 11,478,300,497.98
10,828,824,566.71
Tax and surcharges 44,905,595.40
40,172,247.54
Selling and distribution expenses 186,148,487.15
178,902,194.54
General and administrative expenses 171,553,819.80
215,696,958.84
Research and development expenses 8,416,671.23
2,797,993.86
Financial expenses 212,078,788.48
-204,007,003.82
Including: Interest expense 231,068,313.59
278,494,138.86
Interest income 65,935,368.22
66,189,925.11
Add: Other income 18,009,908.60
20,821,500.00
Income on investment（“-” for loss）
joint ventures
| Including: Income from associates and | ||
| Income from derecognition of financial |
assets measured at amortized cost
（“-” for loss）
| Net exposure hedging income |
fair value （“-” for loss）
| Gains from change of | ||
| Credit impairment loss |
（“-” for loss）
1,189,945.37
Asset impairment loss（“-” for loss）
-20,397,495.27
Assets disposal gains（“-
for loss）
| ” |
2,144,869.80
2. Operational profit（“-” for loss）
160,752,378.32
278,624,219.84
Add: Non-operating income 225,882.20
3,021,409.27
Less: Non-operating expenses 6,069,498.66
7,215,029.01
3. Total profit (“-” for loss) 154,908,761.86
274,430,600.10
Less: Income tax expenses -4,801,887.48
14,240,768.41
4. Net profit（“-” for loss）
159,710,649.34
260,189,831.69
1.Net profit from continuing operation 159,710,649.34
260,189,831.69
2.Net profit from discontinued operation
5.Other comprehensive income
will not be reclassified into gains/losses
| 1.Other comprehensive income items that |
(1) Re-
plans of changes in net debt or net assets
| measurement of defined benefit |
into profit or loss
| (2) Other comprehensive income under the equity method investee cannot be reclassified |
equity investments
| (3) Changes in the fair value of other |
credit risk
| (4) Changes in the fair value of Corporate |
(5) Others
reclassified into profit or loss.
| 2.Other comprehensive income that will be |
afterwards under equity method
| (1) Share of other comprehensive income of investee to be classified into profit or loss |
investments
| (2) Changes in the fair value of other debt |
assets at fair val
| ue through other comprehensive |
income
investments
| (4) Provision for credit loss of other debt |
(5) Cash flow hedge reserve
(6) Translation differences in
currency financial statements
| foreign |
(7) Others
6. Total comprehensive income 159,710,649.34
260,189,831.69
7. Earnings per share1）Basic earnings per share
2）Diluted earnings per share
5. CONSOLIDATED STATEMENT OF CASH FLOWS
Unit: RMB
Item Jan.-Mar. 2020 Jan.-Mar. 2019
1.Cash flow from operating activities
rendering of services
7,864,260,416.76
| Cash received from sale of goods or |
7,419,619,557.25
| Net increase of customers' deposit and |
interbank deposit
Net increase of loan from central bank
Net increase of loans
institutions
| from other financial | ||
| Cash received for premium of original |
insurance contract
Net cash received for reinsurance business
| Net increase of deposit and investment of |
the insured
| Cash from receiving interest, handling |
charge and commission
| Net increase of loans from Borrowing funds |
Net increase of fund for buy-back business
| Net increase of receivings from vicariously |
traded securities
Tax rebate received 12,824,913.18
129,603,306.84
Other cash received
activities
50,831,445.98
| relating to operating |
52,630,739.69
| Subtotal of cash inflows from operating |
activities
7,927,916,775.92
7,601,853,603.78
Cash paid for goods and services 6,282,057,238.94
3,796,837,688.74
| Net increase of customer's loan and |
advances
| Net increase of deposit in central bank and |
interbank deposit
Cash payment for original insurancecontract compensation
Net increase of capital lent
| Cash for payment of interest, handling |
charge and commission
Cash for payment of policy bonus
Cash paid to and on behalf of employees 481,908,334.86
466,895,154.36
Cash paid for all types of taxes 458,533,701.03
564,138,089.50
| Other cash paid relating to operating |
activities
20,570,880.87
21,425,475.71
Subtotal of
activities
7,243,070,155.70
| cash outflows from operating |
4,849,296,408.31
Net cash flows from operating activities 684,846,620.22
2,752,557,195.47
2. Cash flows from investing activities
Cash received from return on investments
Cash
dividends or profit
| received from distribution of | ||
| Net cash received from disposal of fixed |
assets, intangible assets and other long-
assets
| term | ||
| Net cash received from disposal of |
subsidiary and other operating units
Other cash paid
activities
| relating to investing | ||
| Subtotal of cash inflows from investing |
activities
| Cash paid for acquisition of fixed assets, |
intangible assets and other long-term assets
224,332,091.19
213,446,363.20
Cash paid for acquisition of investments
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
224,332,091.19
213,446,363.20
Net cash flows from investing activities -224,332,091.19
-213,446,363.20
3. Cash flows from financing activitiesProceeds from investment
| Including: Proceeds from investment of |
non-controlling shareholders of subsidiary
Proceeds from borrowings 2,197,194,000.00
3,762,429,000.00
| Other proceeds relating to financing |
activities
activities
2,197,194,000.00
| Subtotal of cash inflows from financing |
3,762,429,000.00
Cash repayments of borrowings 2,916,611,584.62
3,853,593,875.68
| Cash payments for distribution of |
dividends, profit or interest expenses
263,567,150.15
293,019,846.37
Including: Cash paid to non-
subsidiaries
| controlling shareholders as dividend and profit by | ||
| Other cash payments relating to financing |
activities
| Subtotal of cash outflows from financing |
activities
3,180,178,734.77
4,146,613,722.05
Net cash flows from financing activities -982,984,734.77
-384,184,722.05
| 4. Effect of foreign exchange rate changes |
on cash and cash equivalents
37,441,237.39
-25,741,813.31
| 5. Net increase in cash and cash |
equivalents
-485,028,968.35
2,129,184,296.91
| Add: Cash and cash equivalents at the |
beginning of the period
13,441,414,988.58
11,752,548,621.97
6. Cash and cash
ending of the period
12,956,386,020.23
| equivalents at the |
13,881,732,918.88
6. STATEMENT OF CASH FLOWS
Unit: RMBItem Jan.-Mar. 2020 Jan.-Mar. 2019
1. Cash flow from operating activities
Cash received from sale of goods or
rendering of services
7,801,529,586.28
| Cash received from sale of goods or |
7,083,398,928.22
Tax rebate received
102,717,420.63
| Other cash received relating to operating |
activities
39,105,003.15
40,251,068.14
| Subtotal of cash inflows from operating |
activities
7,840,634,589.43
7,226,367,416.99
Cash paid for goods and services 6,197,815,675.01
3,505,322,597.12
Cash paid to and on behalf of employees 459,560,419.78
441,580,806.88
Cash paid for all types of taxes 434,526,418.13
540,256,412.01
| Other cash paid relating to operating |
16,129,733.15
18,206,333.60
activities
activities
7,108,032,246.07
| Subtotal of cash outflows from operating |
4,505,366,149.61
Net cash flows from operating activities 732,602,343.36
2,721,001,267.38
2. Cash flows from investing activitiesCash received from return on investments
| Cash received from distribution of |
dividends or profit
| Net cash received from disposal of fixed |
assets, intangible assets and other long-
assets
| term |
Net cash
subsidiary and other operating units
| received from disposal of | ||
| Other cash received relating to investing |
activities
| Subtotal of cash inflows from investing |
activities
| Cash paid for acquisition of fixed assets, |
intangible assets and other long-term assets
218,474,831.02
211,879,503.05
Cash paid for acquisition of investments
| Net cash paid for acquisition of subsidiary |
and other operating unit
| Other cash paid relating to investing |
activities
| Subtotal of cash outflows paid for |
investing activities
218,474,831.02
211,879,503.05
Net cash flows from investing activities -218,474,831.02
-211,879,503.05
3. Cash flows from financing activitiesProceeds from investment
Cash received from borrowings 1,957,194,000.00
3,522,429,000.00
| Other cash received relating to financing |
activities
| Subtotal of cash inflows from financing |
activities
1,957,194,000.00
3,522,429,000.00
Cash repayments of borrowings 2,676,611,584.62
3,599,373,875.68
| Cash payments for distribution of |
dividends, profit or interest
249,495,900.16
278,494,138.86
activities
| Other cash payments relating to financing | ||
| Subtotal of cash outflows from financing |
activities
2,926,107,484.78
3,877,868,014.54
Net cash flows from financing activities -968,913,484.78
-355,439,014.54
| 4. Effect of foreign exchange rate changes |
on cash and cash equivalents
33,421,536.16
-25,737,308.54
| 5. Net increase in cash and cash |
equivalents
-421,364,436.28
2,127,945,441.25
| Add: Cash and cash equivalents at the |
beginning of the period
13,029,616,298.47
10,807,824,843.20
| 6. Ending balance of cash and cash |
equivalents
12,608,251,862.19
12,935,770,284.45
Ⅱ. Adjustment of Financial Statement
1. Adjustment to the financial statement towards beginning balance due to the first-time implementation of new
revenue standards and new leasing standards from 2020.
√ Applicable □ Not applicable
CONSOLIDATED STATEMENT OF FINANCIAL POSITION
Unit: RMBItem 31 December 2019 1 January 2020 Adjustment amountCurrent assetsCash at bank and on hand 18,415,844,397.77
18,415,844,397.77
Account receivable 235,696,265.66
235,696,265.66
Accounts receivable financing 2,429,542,461.88
2,429,542,461.88
Prepayments 1,291,047,458.11
1,291,047,458.11
Other receivable 172,807,036.77
172,807,036.77
Including: interest receivable 20,504,422.47
20,504,422.47
Inventories 7,700,397,685.61
7,700,397,685.61
Other current assets 312,904,824.09
312,904,824.09
Total current assets 30,558,240,129.89
30,558,240,129.89
Non-current assetsLong-term equity investments 2,642,998.70
2,642,998.70
Other equity investments 1,041,824,829.00
1,041,824,829.00
Fixed assets 26,123,375,492.40
26,123,375,492.40
Construction in progress 1,833,853,572.58
1,833,853,572.58
Intangible assets 271,500,023.34
271,500,023.34
Deferred tax assets 191,485,595.49
191,485,595.49
Other non-current assets 708,502,552.50
708,502,552.50
Total non-current assets
30,173,185,064.01
30,173,185,064.01
Total assets
60,731,425,193.90
60,731,425,193.90
Current LiabilitiesShort-term loans 13,151,478,000.00
13,151,478,000.00
Notes payable 11,828,514,676.95
11,828,514,676.95
Accounts payable 4,527,513,030.27
4,527,513,030.27
Advance from customers 4,429,821,526.79
-4,429,821,526.79
Contract liabilities
4,429,821,526.79
4,429,821,526.79
Employee benefits payable 23,698,174.56
23,698,174.56
Current tax liabilities 284,825,814.80
284,825,814.80
Other payables 662,701,744.97
662,701,744.97
Including: interest payable 10,818,986.30
10,818,986.30
Non-current liabilities due withinone year
234,474,657.99
234,474,657.99
Total current liabilities 35,143,027,626.33
35,143,027,626.33
Non-current liabilitiesLong-term loans 4,849,675,910.73
4,849,675,910.73
Long-term payables 516,939,408.14
516,939,408.14
Deferred income 208,955,407.30
208,955,407.30
Total non-current liabilities 5,575,570,726.17
5,575,570,726.17
Total liabilities 40,718,598,352.50
40,718,598,352.50
Shareholders' equity:
Share capital 3,875,371,532.00
3,875,371,532.00
Capital reserve 12,343,209,847.29
12,343,209,847.29
Special reserves 212,687.41
212,687.41
Surplus reserves 961,105,529.85
961,105,529.85
Undistributed profits 2,307,765,664.62
2,307,765,664.62
Total equity attributable to equityholders of the parent company
19,487,665,261.17
19,487,665,261.17
Non-controlling interests 525,161,580.23
525,161,580.23
Total shareholder's equity 20,012,826,841.40
20,012,826,841.40
| Total of liabilities and owners’ |
equity
60,731,425,193.90
60,731,425,193.90
Illustration of adjustmentSTATEMENT OF FINANCIAL POSITION
Unit: RMBItem 31 December 2019 1 January 2020 Adjustment amountCurrent assetsCash at bank and on hand 16,982,227,928.89
16,982,227,928.89
Account receivable 388,997,108.46
388,997,108.46
Accounts receivable financing 2,193,319,842.60
2,193,319,842.60
Prepayments 1,184,632,345.13
1,184,632,345.13
Other receivable 266,663,235.81
266,663,235.81
Including: interest receivable 19,658,230.77
19,658,230.77
Inventories 6,114,582,832.33
6,114,582,832.33
Other current assets 191,249,460.42
191,249,460.42
Total current assets27,321,672,753.64
27,321,672,753.64
Non-current assets
Long-term equity investments 2,016,281,902.16
2,016,281,902.16
Other equity investments 1,041,824,829.00
1,041,824,829.00
Fixed assets 24,447,763,305.12
24,447,763,305.12
Construction in progress 1,813,889,136.42
1,813,889,136.42
Intangible assets 145,470,040.68
145,470,040.68
Deferred tax assets 93,555,276.54
93,555,276.54
Other non-current assets 696,351,867.38
696,351,867.38
Total non-current assets 30,254,936,357.30
30,254,936,357.30
Total assets 57,576,609,110.94
57,576,609,110.94
Current liabilitiesShort-term loans 11,851,478,000.00
11,851,478,000.00
Notes payable 10,225,969,445.22
10,225,969,445.22
Accounts payable 4,909,389,629.86
4,909,389,629.86
Advance from customers 5,597,707,687.22
-5,597,707,687.22
Contract Liabilities
5,597,707,687.22
5,597,707,687.22
Employee benefits payable 21,872,906.71
21,872,906.71
Current tax liabilities 274,181,048.14
274,181,048.14
Other payables 384,125,032.59
384,125,032.59
Including: interest payable 10,818,986.30
10,818,986.30
Non-current liabilities due withinone year
234,474,657.99
234,474,657.99
Total current liabilities 33,499,198,407.73
33,499,198,407.73
Non-current liabilitiesLong term loans 4,849,675,910.73
4,849,675,910.73
Long-term payables 516,939,408.14
516,939,408.14
Deferred income 208,955,407.30
208,955,407.30
Total non-current liabilities 5,575,570,726.17
5,575,570,726.17
Total liabilities39,074,769,133.90
39,074,769,133.90
Shareholder’s equity:
Share capital3,875,371,532.00
3,875,371,532.00
Capital reserves 11,923,058,165.17
11,923,058,165.17
Special reserves 53,330.99
53,330.99
Surplus reserves 961,105,529.85
961,105,529.85
Undistributed Profits 1,742,251,419.03
1,742,251,419.03
Total shareholder's equity18,501,839,977.04
18,501,839,977.04
Total liabilities andshareholder’s equity
57,576,609,110.94
57,576,609,110.94
Illustration of adjustment
2. Illustration of the first implementation of the new financial instrument standards, the new lease criteria,
retrospective adjustment towards the previous data from 2020.
□ Applicable √ Not applicable
Ⅲ. Audit report
Whether the first quarter report is audited
□ Yes √ No
The first quarter report is not audited.