Report for the First Quarter of 2018 of Bengang Steel Plates Co., Ltd.
Bengang Steel Plates Co., Ltd.
Report for the First Quarter of 2018
April 2018
Report for the First Quarter of 2018 of Bengang Steel Plates Co., Ltd.
Chapter I Important Notice
The Board of Directors, the Supervisory Committee and the Directors, members of
the Supervisory Committee and senior management of the Company guarantee that
there are 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 this
report was examined.
Wang Shu, Chairman of the Company, Han Ge, the principal in charge of the
accounting, and Wang Shaoyu, Chief of Accounting Affairs, make the pledge for the
authenticity, accuracy and integrity of the attached financial statements.
Report for the First Quarter of 2018 of Bengang Steel Plates Co., Ltd.
II Basic Information of the Company
1 Summary of accounting data and financial index
Whether the Company make retroactive adjustment or restatement of the accounting data of the previous years
□ Yes √ No
Jan.-Mar. 2018 Jan.-Mar. 2017 Changes (+/-)
Operating income(RMB) 11,641,518,226.15 11,132,407,692.65 4.57%
Net profit attributable to the shareholders
350,629,492.24 302,653,287.07 15.85%
of the listed company(RMB)
Net profit after deducting of non-recurring
gain/loss attributable to the shareholders of 347,300,210.06 295,684,784.12 17.46%
listed company(RMB)
Net Cash flows generated by business
-8,871,507,868.81 -3,422,732,831.24 208.17%
operation(RMB)
Basic earnings per share(RMB/Share) 0.090 0.097 -7.22%
Diluted earnings per share(RMB/Share) 0.090 0.097 -7.22%
Weighted average net assets yield (%) 2.13% 2.30% -0.17%
31 Mar. 2018 31 Mar. 2017 Changes (+/-)
Gross assets(RMB) 56,754,968,274.94 62,998,143,513.02 -9.91%
Net assets attributable to shareholders of
18,640,829,795.37 14,315,588,729.00 30.21%
the listed company(RMB)
Items and Amount of the non-recurring gains and losses
√ Applicable □ Not applicable
Unit:Yuan
Items Jan.-Mar. 2018 Notes
Profit or loss from investment or assets entrusted to others 3,493,150.68
Profit or loss from debt restructuring 945,892.23
Less: Impact of income tax 1,109,760.73
Total 3,329,282.18 --
For the Company’s non-recurring profit and loss items as defined in “the Explanatory Announcement No.1 on information disclosure
for Companies Offering their Securities to the Public-Non-recurring Profits and Losses” and its non-recurring profit and loss items as
illustrated in “the Explanatory Announcement No.1 on information disclosure for Companies Offering their Securities to the
Public-Non-recurring Profits and Losses” which have been defined as recurring profits and 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 Explanatory
Report for the First Quarter of 2018 of Bengang Steel Plates Co., Ltd.
Announcement No.1 on information disclosure for Companies Offering their Securities to the Public-Non-recurring Profits and
Losses” in the report period.
2 Number of total shareholders and shareholdings by Top 10 shareholders at the end of the period.
(1) Number of holders of ordinary shares and preferred shares with restored voting right and Top 10 shareholders
Unit:Share
The total number of preferred
Total number of common shareholders whose voting
shareholders at the end of the 68,592 rights has been restored at end
reporting period of the reporting period (if
any)
Shareholding by Top 10 shareholders
Amount of Number of share pledged/frozen
Name of the Nature of Proportion of Quantity of
restricted shares
shareholder shareholder shares held shares State of share Quantity
held
Benxi Steel & Iron State-owned Pledged 1,483,095,133
58.95% 2,284,411,202
(Group) Co., Ltd. legal person Frozen 45,000,000
Liaoning Provincial
Transportation State-owned
4.77% 184,842,883 184,842,883
Investment Group legal person
Co., Ltd.
CCB Principal Asset
Management –
ICBC – CR Trust –
CR Trust Xing Others 4.77% 184,842,883 184,842,883
Sheng No. 5
Collective Fund
Trust Plan
Bei Xin Rui Feng
Fund – China
Merchants Bank –
Bei Xin Rui Feng Others 4.77% 184,842,883 184,842,883
Fund Feng Qing No.
229 Asset
Management Plan
China Life AMP
Fund– ICBC –
Others 4.77% 184,842,883 184,842,883
China Life AMP –
Hua Xin Trust
Report for the First Quarter of 2018 of Bengang Steel Plates Co., Ltd.
Targeted Additional
Shares Issuance No.
10 Asset
Management Plan
VANGUARD
EMERGING Overseas legal
0.21% 8,157,311
MARKETS STOCK person
INDEX FUND
Domestic
Chen Jinhong 0.17% 6,517,700
natural person
Domestic
Lyu Ruijun 0.13% 5,123,100
natural person
FIRST TRUST
EMERGING
MARKETS Overseas legal
0.13% 4,871,043
SMALL CAP person
ALPHADEX
FUND
VANGUARD
TOTAL
Overseas legal
INTERNATIONAL 0.12% 4,606,141
person
STOCK INDEX
FUND
Shareholding of top 10 shareholders of unrestricted shares
Category of shares
Number of non-restricted common shares held at the
Name of the shareholder Category of
period-end Quantity
shares
Common shares
Benxi Steel & Iron (Group) Co., Ltd. 2,284,411,202 2,284,411,202
in RMB
Foreign shares
VANGUARD EMERGING placed in
8,157,311 8,157,311
MARKETS STOCK INDEX FUND domestic
exchange
Foreign shares
placed in
Chen Jinhong 6,517,700 6,517,700
domestic
exchange
Foreign shares
placed in
Lyu Ruijun 5,123,100 5,123,100
domestic
exchange
Report for the First Quarter of 2018 of Bengang Steel Plates Co., Ltd.
Foreign shares
FIRST TRUST EMERGING
placed in
MARKETS SMALL CAP 4,871,043 4,871,043
domestic
ALPHADEX FUND
exchange
Foreign shares
VANGUARD TOTAL
placed in
INTERNATIONAL STOCK INDEX 4,606,141 4,606,141
domestic
FUND
exchange
Foreign shares
placed in
Yu Xiaofan 4,002,707 4,002,707
domestic
exchange
Common shares
Liu Hongqing 3,490,000 3,490,000
in RMB
Common shares
Wu Zhanglin 3,395,200 3,395,200
in RMB
Foreign shares
Haitong International Securities placed in
3,161,109 3,161,109
Company Limited-Account Client domestic
exchange
Benxi Steel & Iron (Group) Co., Ltd., the holding shareholder, has no relationship with any of
the other shareholders among the top 10 shareholders, neither being regarded as
action-in-concert parties by the Information Disclosure Regulations for Change of
Related-parties or acting-in-concert Shareholding in listed companies. The Company is not aware of any relationship among the
parties among the above-mentioned other shareholders, neither being regarded as action-in-concert parties by the Information
shareholders Disclosure Regulations for Change of Shareholding in listed companies. The Company is not
aware of any relationship among the top 10 shareholders, neither being regarded as
action-in-concert parties by the Information Disclosure Regulations for Change of
Shareholding in listed companies.
Benxi Steel & Iron (Group) Co., Ltd. holds 2,034,411,202 shares of the company through an
ordinary securities account, and holds 250,000,000 shares through the investor's credit
Shareholders among the top 10
securities account, therefore, it holds a total of 2,284,411,202 shares. Liu Hongqing holds
participating in Securities lending
3,490,000 shares of the company through an investor's credit securities account, and Wu
and borrowing business(if any)
Zhanglin holds 3,395,200 shares of the company through an investor's credit securities
account.
Whether top ten common shareholders or top ten common shareholders with unrestricted shares carried out any buy-back agreement
dealing in the reporting period.
□ Yes √ No
Top ten common shareholders or top ten common shareholders with unrestricted shares did not carry out buy-back agreement dealing
in the reporting period. .
Report for the First Quarter of 2018 of Bengang Steel Plates Co., Ltd.
(2) Number of total preferred shareholders and preferred shares hold by Top 10 preferred shareholders
□ Applicable √ Not applicable
Report for the First Quarter of 2018 of Bengang Steel Plates Co., Ltd.
III Important Events
1 Major changes in main accounting statement items and financial indicators within the
reporting period, as well as reasons for the changes.
√ 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 2017
Increase /
1. Financial Position Statement items Reasons
Decrease
Cash at bank and on hand -35% Due to repayment of the arrears in the current period
Other current assets -72% Due to the redeem of financial products
Construction in progress -37% Due to the increase of construction materials usage
Due to the increase of the solution pay of notes
Notes payable -67%
payable at maturity
Advance from customers -31% Due to the decrease of production
Due to the decrease of tax payable at the end of this
Tax payable -73%
period
Due to the decrease of provision of corporate bond
Interests payable -69%
interest
Capital reserves 35% Due to premium of targeted additional shares issuance
Due to the decrease of payment of safety production
Special reserves 1447%
cost
Undistributed profits 32% Due to the increase of net profit
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 2017
Increase /
2. Income Statement items Reasons
Decrease
Due to the increase of employee benefits and repair
General and administrative expenses 38%
costs
Financial expenses -133% Due to the increase of exchange gains
Income on investment 60% Due to the increase of income on financial products
Due to the reclassification of government subsidy into
Non-operating income -83%
other income
Non-operating expenses -100% Due to non-occurrence of disposal of fixed assets
Report for the First Quarter of 2018 of Bengang Steel Plates Co., Ltd.
Income tax expenses -90% Due to the decrease of deferred income tax
Profit or loss of non-controlling
-88% Due to the decrease of profit of holding subsidiaries
shareholders
Increase /
3. Cash flow items Reasons
Decrease
Tax rebate received 80% Due to the increase of tax rebate received
Due to the increase of repayment of the arrears in the
Cash paid for goods and services 61%
current period
Subtotal of cash outflows from Due to the increase of repayment of the arrears in the
57%
operating activities current period
Net cash flows generated from Due to the increase of repayment of the arrears in the
159%
operating activities current period
Cash received from return on
214% Due to the increase of redeem of financial products
investments
Cash received from distribution of
60% Due to the increase of income on financial products
dividends or profit
Due to the investment received from targeted
Proceeds from investment 100%
additional shares issuance
Cash repayments of borrowings 61% Due to the increase of repayment of bank loans
The net cash flow generated by Due to the investment received from targeted
63%
financing activities additional shares issuance
2 Progress and influence of significant events, as well as the analysis and explanation on
solutions
□ Applicable √ Not applicable
3 Commitments not finished and is overdue in the reporting period by actual controller,
shareholders, related parties, acquirer, and other commitments parties.
□ Applicable √ Not applicable
There is no commitments not finished and is overdue in the reporting period by actual controller, shareholders, related parties,
acquirer, and other commitments parties.
4 Forecast of operating results for Jan. 2018-June 2018
Warning of possible loss or considerable change of the accumulated net profit made during the period-start until the end of the next
reporting period according to predictions as well as any explanations for these reasons:
Report for the First Quarter of 2018 of Bengang Steel Plates Co., Ltd.
□ Applicable √ Not applicable
5 Securities investment
□ Applicable √ Not applicable
There is no securities investments in the reporting period.
6 Investment in Derivatives
□ Applicable √ Not applicable
There is no investment in derivatives in the reporting period.
7 Particulars about researches, visits and interviews received in this reporting period
□ Applicable √ Not applicable
There is no researches, visits and interviews received in the reporting period.
8 Illegal Guarantee
□ Applicable √ Not applicable
There was no illegal guarantee during the reporting period.
9 Particulars about the non-operating occupation of funds by the controlling shareholder
□ Applicable √ Not applicable
There are no controlling shareholder and its related parties occupying non-business capital of the listed company in the reporting
period.
Report for the First Quarter of 2018 of Bengang Steel Plates Co., Ltd.
IV Financial Statements
1 Financial Statements
(1) Consolidated Statement of Financial Position
Prepared by: Bengang Steel Plates Co., Ltd.
As at 31 March 2018
Unit:Yuan
Items Ending balance Beginning balance
Current assets:
Cash at bank and on hand 11,093,558,097.39 17,037,713,410.49
Settlement provisions
Capital lent
Financial assets at fair value
through profit or loss
Derivative financial assets
Notes receivable 3,843,305,009.16 3,846,433,700.87
Accounts receivable 759,164,807.27 728,597,926.39
Prepayments 1,180,446,504.01 1,280,689,094.33
Premium receivable
Reinsurance accounts receivable
Receivable deposit for reinsurance
contract
Interests receivable 16,293,285.16 18,448,520.50
Dividends receivable
Other receivables 296,536,545.14 290,376,985.34
Redemptory financial assets for
sale
Inventories 11,849,685,609.68 11,209,898,096.16
Assets classified as held for sale
Non-current assets due within one
year
Other current assets 223,617,780.92 809,322,127.79
Total current assets 29,262,607,638.73 35,221,479,861.87
Report for the First Quarter of 2018 of Bengang Steel Plates Co., Ltd.
Non-current assets:
Loan and advances issued
Available-for-sale financial assets 3,888,980.00 3,888,980.00
Held-to-maturity investment
Long-term receivables
Long-term equity investments 2,726,009.03 2,726,009.03
Investment properties
Fixed assets 23,423,813,190.26 23,852,067,166.10
Construction in progress 2,512,650,530.63 2,391,584,410.46
Construction materials 2,880,287.12 4,558,919.60
Disposal of fixed assets
Productive biological assets
Oil and gas assets
Intangible assets 283,074,289.92 253,884,881.48
Development expenditure
Goodwill
Long-term deferred expenses
Deferred tax assets 195,992,526.13 200,618,461.36
Other non-current assets 1,067,334,823.12 1,067,334,823.12
Total non-current assets 27,492,360,636.21 27,776,663,651.15
Total assets 56,754,968,274.94 62,998,143,513.02
Current Liabilities:
Short-term loans 20,988,248,400.00 21,999,103,900.00
Loan from central bank
Absorbed deposit and interbank
deposit
Loan from other financial
institutions
Financial liabilities at fair value
through profit or loss
Advance from customers
Notes payable 3,742,684,341.50 11,494,589,827.27
Accounts payable 3,750,475,693.36 3,897,668,513.77
Advance from customers 2,267,165,181.31 3,308,567,598.05
Financial assets sold for
Report for the First Quarter of 2018 of Bengang Steel Plates Co., Ltd.
repurchase
Handling charges and commission
payable
Employee benefits payable 36,205,319.16 43,722,537.58
Current tax liabilities 23,604,657.69 87,807,128.50
Interests payable 26,252,770.25 84,139,288.02
Dividends payable
Other payables 540,233,649.65 576,989,932.31
Reinsurance accounts payable
Provision for insurance contract
Receipt from vicariously traded
securities
Receipt from vicariously
underwriting securities
Liabilities held for sale
Non-current liabilities due within
3,710,868,973.54 3,811,540,590.84
one year
Other current liabilities 23,574,344.57 27,979,093.21
Total current liabilities 35,109,313,331.03 45,332,108,409.55
Non-current liabilities:
Long-term loans 2,098,295,484.06 2,444,185,630.28
Bonds payable
Including: Preferred stock
Perpetual bond
Long-term payables
Long-term employee benefits
payable
Special accounts payable
Estimated liabilities
Deferred income 372,601,561.30 372,785,000.00
Deferred tax liabilities
Other non-current liabilities
Total non-current liabilities 2,470,897,045.36 2,816,970,630.28
Total liabilities 37,580,210,376.39 48,149,079,039.83
Shareholders’ equity:
Report for the First Quarter of 2018 of Bengang Steel Plates Co., Ltd.
Share capital 3,875,371,532.00 3,136,000,000.00
Other equity instruments
Including: Preferred stock
Perpetual bond
Capital reserves 12,343,209,847.29 9,114,845,542.05
Less: treasury shares
Other comprehensive income
Special reserves 7,350,783.64 475,046.75
Surplus reserves 961,105,529.85 961,105,529.85
General risk reserve
Undistributed profits 1,453,792,102.59 1,103,162,610.35
Total equity attributable to equity
18,640,829,795.37 14,315,588,729.00
holders of the parent company
Non-controlling interests 533,928,103.18 533,475,744.19
Total shareholder’s equity 19,174,757,898.55 14,849,064,473.19
Total liabilities and shareholder’s equity 56,754,968,274.94 62,998,143,513.02
Legal Representative:Wang Shu Person in charge of accounting:Han Ge Accounting Dept
Leader:Wang Shaoyu
(2) Balance sheet of Parent Company
Unit:Yuan
Items Ending balance Beginning balance
Current assets:
Cash at bank and on hand 10,479,896,112.30 16,717,913,081.42
Financial assets at fair value
through profit or loss
Derivative financial assets
Notes receivable 3,575,837,787.96 3,515,361,992.96
Accounts receivable 520,075,140.22 482,181,593.45
Prepayments 1,180,446,504.01 1,280,354,579.87
Interests receivable 16,293,285.16 18,377,036.96
Dividends receivable
Other receivables 398,937,446.74 376,863,448.72
Inventories 9,571,138,419.47 9,228,860,225.75
Report for the First Quarter of 2018 of Bengang Steel Plates Co., Ltd.
Assets classified as held for sale
Non-current assets due within one
year
Other current assets 223,617,780.92 682,211,823.73
Total current assets 25,966,242,476.78 32,302,123,782.86
Non-current assets:
Available-for-sale financial assets 3,888,980.00 3,888,980.00
Held-to-maturity investment
Long-term receivables
Long-term equity investments 1,930,481,902.16 1,756,981,902.16
Investment properties
Fixed assets 21,303,700,826.29 21,621,369,452.27
Construction in progress 2,495,900,067.44 2,383,533,130.37
Construction materials 2,455,500.80 4,134,133.28
Disposal of fixed assets
Productive biological assets
Oil and gas assets
Intangible assets 151,255,780.92 152,082,315.24
Development expenditure
Goodwill
Long-term deferred expenses
Deferred tax assets 95,563,986.10 100,189,921.33
Other non-current assets 1,037,735,849.00 1,037,735,849.00
Total non-current assets 27,020,982,892.71 27,059,915,683.65
Total assets 52,987,225,369.49 59,362,039,466.51
Current Liabilities:
Short-term loans 19,405,839,000.00 20,499,694,500.00
Financial liabilities at fair value
through profit or loss
Advance from customers
Notes payable 3,214,532,767.20 10,866,669,546.93
Accounts payable 3,901,242,450.32 4,184,763,509.38
Advance from customers 2,087,038,774.20 3,217,423,443.14
Employee benefits payable 35,842,167.15 42,380,713.02
Current tax liabilities 3,476,856.86 66,903,531.67
Report for the First Quarter of 2018 of Bengang Steel Plates Co., Ltd.
Interests payable 17,450,000.00 79,074,426.27
Dividends payable
Other payables 399,948,764.62 343,211,639.65
Liabilities held for sale
Non-current liabilities due within
3,710,868,973.54 3,811,540,590.84
one year
Other current liabilities 23,574,344.57 27,979,093.21
Total current liabilities 32,799,814,098.46 43,139,640,994.11
Non-current liabilities:
Long-term loans 2,098,295,484.06 2,444,185,630.28
Bonds payable
Including: Preferred stock
Perpetual bond
Long-term payables
Long-term employee benefits
payable
Special accounts payable
Estimated liabilities
Deferred income 372,601,561.30 372,785,000.00
Deferred tax liabilities
Other non-current liabilities
Total non-current liabilities 2,470,897,045.36 2,816,970,630.28
Total liabilities 35,270,711,143.82 45,956,611,624.39
Shareholders’ equity:
Share capital 3,875,371,532.00 3,136,000,000.00
Other equity instruments
Including: Preferred stock
Perpetual bond
Capital reserves 11,923,058,165.17 8,694,693,859.93
Less: treasury shares
Other comprehensive income
Special reserves 5,953,580.47 276,727.96
Surplus reserves 961,105,529.85 961,105,529.85
Undistributed profits 951,025,418.18 613,351,724.38
Total shareholder’s equity 17,716,514,225.67 13,405,427,842.12
Report for the First Quarter of 2018 of Bengang Steel Plates Co., Ltd.
Total liabilities and shareholder’s equity 52,987,225,369.49 59,362,039,466.51
(3) Consolidated Statement of Comprehensive Income
Unit:Yuan
Items Jan.-Mar.2018 Jan.-Mar.2017
1. Total operating income 11,641,518,226.15 11,132,407,692.65
Including: Operating income 11,641,518,226.15 11,132,407,692.65
Interest income
Premium earned
Income from handling
charges and commission
2. Total operating cost 11,292,484,306.53 10,738,188,697.63
Including: Operating cost 10,774,961,797.37 9,930,127,676.02
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 93,231,022.33 77,416,977.43
Selling and distribution
270,705,255.98 309,701,590.37
expenses
General and administrative
236,415,300.35 171,564,522.91
expenses
Financial expenses -82,829,069.50 249,377,930.90
Asset impairment loss
Add: Gains from the change in fair
value (\"-\" for loss)
Income on investment (\"-\" for
3,493,150.68 2,186,117.80
loss)
Including: Income from
associates and joint ventures
Report for the First Quarter of 2018 of Bengang Steel Plates Co., Ltd.
Exchange gain (\"-\" for loss)
Assets disposal gains (\"-\" for
loss)
Other income 6,463,438.70
3 Operating profit (\"-\" for loss 358,990,509.00 396,405,112.82
Add: Non-operating income 1,585,742.03 9,446,503.65
Less: Non-operating expenses 2,338,387.11
4 Total profit (\"-\" for total loss) 360,576,251.03 403,513,229.36
Less: Income tax expenses 9,494,399.80 97,028,442.48
5 Net Profit (\"-\" for net loss) 351,081,851.23 306,484,786.88
Net profit from continuing operation
351,081,851.23 306,484,786.88
(\"-\" for loss)
Net profit from discontinued
operation (\"-\" for loss)
Attributable to: Owners of parent
350,629,492.24 302,653,287.07
company
Non-controlling shareholders 452,358.99 3,831,499.81
6. Other comprehensive income after tax
Other comprehensive income
attributable to owners of parent company
after tax
1) Other comprehensive income
unable to be reclassified into profit and
loss afterwards
1.Change of net liabilities or
net assets through remeasuring defined
benefit plan
2.Share of other
comprehensive income of investee not to
be classified into profit or loss afterwards
under equity method
2) Other comprehensive income to
be reclassified into profit and loss
afterwards
1.Share of other
comprehensive income of investee to be
classified into profit or loss afterwards
under equity method
2. Gains and losses on
Report for the First Quarter of 2018 of Bengang Steel Plates Co., Ltd.
remeasuring available-for-sale financial
assets
3.Gains and losses resulting
from reclassification of held-to maturity
investment to financial assets held-for
sale
4.Effective portion of gains
or losses from cash flow hedging
5.
Gains and losses resulting from translatin
g the foreign currency
financial statements
6.Others
Other comprehensive income
attributable to non-controlling
shareholders after tax
7. Total comprehensive income 351,081,851.23 306,484,786.88
Total comprehensive income
350,629,492.24 302,653,287.07
attributable to owners of parent company
Total comprehensive income
attributable to non-controlling 452,358.99 3,831,499.81
shareholders
8. Earnings per share:
(1)Basic earnings per share 0.090 0.097
(2)Diluted earnings per share 0.090 0.097
Legal Representative:Wang Shu Person in charge of accounting:Han Ge Accounting Dept
Leader:Wang Shaoyu
(4) Income Statement of the Parent Company
Unit:Yuan
Items Jan.-Mar. 2018 Jan.-Mar. 2017
1 Operating income 11,808,077,059.64 11,398,661,706.90
Less: Operating cost 11,117,984,591.44 10,366,737,537.66
Taxes and surcharges 86,278,192.35 70,478,527.46
Selling and distribution
145,350,744.25 200,688,771.46
expenses
General and administrative 224,716,557.40 160,222,229.54
Report for the First Quarter of 2018 of Bengang Steel Plates Co., Ltd.
expenses
Financial expenses -97,141,152.03 231,289,051.43
Asset impairment loss
Add: Gains from the change
in fair value (\"-\" for loss)
Income on investment (\"-\" for
3,493,150.68 2,186,117.80
loss)
Including: Income from
associates and joint ventures
Assets disposal gains (\"-\" for
loss)
Other income 6,463,438.70
2 Operating profit (\"-\" for loss) 340,844,715.61 371,431,707.15
Add: Non-operating income 1,454,913.42 8,796,284.46
Less: Non-operating expenses 2,338,387.11
3 Total profit (\"-\" for total loss) 342,299,629.03 377,889,604.50
Less: Income tax expenses 4,625,935.23 87,971,810.96
4 Net Profit (\"-\" for net loss) 337,673,693.80 289,917,793.54
Net profit from continuing
337,673,693.80 289,917,793.54
operation (\"-\" for loss)
Net profit from discontinued
operation (\"-\" for loss)
5 Other comprehensive income after tax
1) Other comprehensive income
unable to be reclassified into profit and
loss afterwards
1.Change of net liabilities
or net assets through remeasuring
defined benefit plan
2.Share of other
comprehensive income of investee not
to be classified into profit or loss
afterwards under equity method
2) Other comprehensive income to
be reclassified into profit and loss
afterwards
1.Share of other
comprehensive income of investee to be
classified into profit or loss afterwards
Report for the First Quarter of 2018 of Bengang Steel Plates Co., Ltd.
under equity method
2 Gains and losses on
remeasuring available-for-sale financial
assets
3.Gains and losses resulting
from reclassification of held-to maturity
investment to financial assets held-for
sale
4.Effective portion of gains
or losses from cash flow hedging
5.
Gains and losses resulting from translati
ng the foreign currency
financial statements
6.Others
6 Total comprehensive income 337,673,693.80 289,917,793.54
7 Earnings per share:
(1)Basic earnings per share
(2)Diluted earnings per share
(5) Consolidated Statement of Cash Flows
Unit:Yuan
Items Jan.-Mar. 2018 Jan.-Mar. 2017
1.Cash flow from operating activities:
Cash received from sale of goods
7,731,797,062.14 7,100,739,711.79
or rendering of services
Net increase of customers’ deposit
and interbank deposit
Net increase of loan from central
bank
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
Report for the First Quarter of 2018 of Bengang Steel Plates Co., Ltd.
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 72,002,572.86 40,096,198.40
Other cash received relating to
60,576,344.20 69,675,649.95
operating activities
Subtotal of cash inflow received from
7,864,375,979.20 7,210,511,560.14
operation activities
Cash paid for goods and services 15,907,402,800.35 9,858,638,834.91
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
Cash for payment of interest,
handling charge and commission
Cash for payment of policy bonus
Cash paid to and on behalf of
481,878,788.59 453,316,467.11
employees
Cash paid for all types of taxes 322,300,081.76 296,159,456.20
Other cash paid relating to
24,302,177.31 25,129,633.16
operating activities
Subtotal of cash outflow received from
16,735,883,848.01 10,633,244,391.38
operation activities
Net cash flows generated from
-8,871,507,868.81 -3,422,732,831.24
operating activities
2. Cash flows from investing
activities:
Cash received from return on
500,000,000.00 159,000,000.00
investments
Cash received from distribution of 3,493,150.68 2,186,117.80
Report for the First Quarter of 2018 of Bengang Steel Plates Co., Ltd.
dividends or profit
Net cash received from disposal of
fixed assets, intangible assets and other
long-term assets
Net cash received from disposal of
subsidiary and other operating units
Other cash paid relating to
investing activities
Subtotal of cash inflow received from
503,493,150.68 161,186,117.80
investing activities
Cash paid for acquisition of fixed
assets, intangible assets and other 367,847,024.60 486,764,678.93
long-term assets
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
367,847,024.60 486,764,678.93
investing activities
The net cash flow generated by
135,646,126.08 -325,578,561.13
investment activities
3. Cash flows from financing
activities:
Proceeds from investment 3,965,799,988.19
Including: Proceeds from
investment of non-controlling
shareholders of subsidiary
Proceeds from borrowings 6,576,220,000.00 6,602,518,658.09
Cash received from bond issuance
Other proceeds relating to
financing activities
Subtotal cash inflow received from
10,542,019,988.19 6,602,518,658.09
financing activities
Cash repayments of borrowings 6,452,965,440.62 3,997,546,531.91
Cash payments for distribution of 292,806,531.43 282,352,521.52
Report for the First Quarter of 2018 of Bengang Steel Plates Co., Ltd.
dividends, profit or interest expenses
Including: Cash paid to
non-controlling shareholders as
dividend and profit by subsidiaries
Other cash payments relating to
financing activities
Subtotal of cash outflows from
6,745,771,972.05 4,279,899,053.43
financing activities
The net cash flow generated by
3,796,248,016.14 2,322,619,604.66
financing activities
4. Effect of foreign exchange rate
-6,488,117.13 -8,665,398.73
changes on cash and cash equivalents
5. Net increase in cash and cash
-4,946,101,843.72 -1,434,357,186.44
equivalents
Add: Cash and cash equivalents at
12,317,576,778.93 12,273,574,488.67
the beginning of the period
6. Cash and cash equivalents at the
7,371,474,935.21 10,839,217,302.23
ending of the period
(6) Cash Flow Statement of Parent Company
Unit:Yuan
Items Jan.-Mar. 2018 Jan.-Mar. 2017
1.Cash flow from operating activities:
Cash received from sale of goods
7,332,137,869.58 7,138,918,917.92
or rendering of services
Tax rebate received 135,442.49 4,990,848.26
Other cash received relating to
42,405,069.68 50,953,435.38
operating activities
Subtotal of cash inflow received from
7,374,678,381.75 7,194,863,201.56
operation activities
Cash paid for goods and services 15,657,723,198.78 9,605,833,537.74
Cash paid to and on behalf of
456,027,325.34 429,807,971.99
employees
Cash paid for all types of taxes 289,677,174.70 271,085,915.47
Other cash paid relating to
20,458,086.55 20,753,329.17
operating activities
Subtotal of cash outflow received from 16,423,885,785.37 10,327,480,754.37
Report for the First Quarter of 2018 of Bengang Steel Plates Co., Ltd.
operation activities
Net cash flows generated from
-9,049,207,403.62 -3,132,617,552.81
operating activities
2. Cash flows from investing
activities:
Cash received from return on
500,000,000.00 159,000,000.00
investments
Cash received from distribution of
3,493,150.68 2,186,117.80
dividends or profit
Net cash received from disposal of
fixed assets, intangible assets and other
long-term assets
Net cash received from disposal of
subsidiary and other operating units
Other cash paid relating to
investing activities
Subtotal of cash inflow received from
503,493,150.68 161,186,117.80
investing activities
Cash paid for acquisition of fixed
assets, intangible assets and other 366,691,846.42 474,766,092.93
long-term assets
Cash paid for acquisition of
173,500,000.00
investments
Net cash received from subsidiary
and other operating unit
Other cash paid relating to
investing activities
Subtotal of cash outflows from
540,191,846.42 474,766,092.93
investing activities
The net cash flow generated by
-36,698,695.74 -313,579,975.13
investment activities
3. Cash flows from financing
activities:
Proceeds from investment 3,965,799,988.19
Proceeds from borrowings 6,053,220,000.00 5,978,931,200.00
Cash received from bond issuance
Other proceeds relating to
financing activities
Report for the First Quarter of 2018 of Bengang Steel Plates Co., Ltd.
Subtotal cash inflow received from
10,019,019,988.19 5,978,931,200.00
financing activities
Cash repayments of borrowings 6,012,965,440.62 3,743,326,531.91
Cash payments for distribution of
279,903,047.33 267,274,159.52
dividends, profit or interest expenses
Other cash payments relating to
financing activities
Subtotal of cash outflows from
6,292,868,487.95 4,010,600,691.43
financing activities
The net cash flow generated by
3,726,151,500.24 1,968,330,508.57
financing activities
4. Effect of foreign exchange rate
-6,484,800.97 -8,663,163.83
changes on cash and cash equivalents
5. Net increase in cash and cash
-5,366,239,400.09 -1,486,530,183.20
equivalents
Add: Cash and cash equivalents at
12,152,285,550.21 11,876,536,613.66
the beginning of the period
6. Cash and cash equivalents at the
6,786,046,150.12 10,390,006,430.46
ending of the period
2 Auditors’ report
Whether First quarter report has been audited by a CPAs firm.
□ Yes √ No
The First quarter report has not been audited by a CPAs firm.