Bengang Steel Plates Co., Ltd. Annual Report 2015
Bengang Steel Plates Co., Ltd.
Annual Report 2015
April 2016
Bengang Steel Plates Co., Ltd. Annual Report 2015
Chapter I. Important Prompts, Table of Contents, and Definitions
The Board of Directors, The Supervisory Committee, the supervisors and the directors of the Company guarantee
that there are no significant omissions, fictitious or misleading statements carried in the Report and we will accept
individual and joint responsibilities for the truthfulness, accuracy and completeness of the Report.
Mr.Zhao Zhongmin, The Company leader, Mr.Han Ge , Chief financial officer and the Mr.Wang Shaoyu, the
person in charge of the accounting department (the person in charge of the accounting )hereby confirm the
authenticity and completeness of the financial report enclosed in this annual report.
All of the directors attended the board meeting on which this report was examined.
The prospective statements contained in the annual report do not constitute any substantial commitment to the
investors. Investors please be aware of the risks attached to investment decisions.
In the fourth chapter of this report---”The Managements Discussion and Analysis--Expectation on the Companys
Future Development”, it describes the risks the company may face in its future operation, so its advised that all
investors should look it up.
This report is prepared both in versions of Chinese and English. The Chinese version shall prevail when there are
any controversial statements in the two versions.
The Company will not distribute cash dividend or bonus shares, neither capitalizing of common reserves for the
report period.
Bengang Steel Plates Co., Ltd. Annual Report 2015
Table of Contents
I.Important Notice, Table of contents and Definitions
II. Basic Information of the Company and Financial index
III. Outline of Company Business
IV.Managements Discussion and analysis
V. Important Events
VI. Change of share capital and shareholding of Principal Shareholders
VII. Situation of the Preferred Shares
VIII. Information about Directors, Supervisors and Senior Executives
IX. Administrative structure
X. Financial Report
XI. Documents available for inspection
Bengang Steel Plates Co., Ltd. Annual Report 2015
Definition
Refers
Terms to be defined Definition
to
Bengang Bancai, Bengang Steel, the Company, Refers
Bengang Steel Plates Co., Ltd.
the Listed Company to
Refers
Bengang Group Bengang Group Co., Ltd.
to
Refers
Bengang Co. Benxi Steel (Group) Co., Ltd.
to
Refers
Liaoning Provincial State-asset Administration Liaoning State-owned Asset Supervisory and Management Committee
to
Refers
SSE Shenzhen Stock Exchange
to
Refers
Bengang Puxiang Bengang Puxiang Cool Rolling Steel Sheet Co., Ltd.
to
Bengang Steel Plates Co., Ltd. Annual Report 2015
II. Basic Information of the Company and Financial index
Ⅰ.Company Information
Stock ID Bengang Bancai, Bengangban B Stock Code 000761、200761
Stock Exchange Listed in Shenzhen Stock Exchange
Name in Chinese 本钢板材股份有限公司
Chinese abbreviation 本钢板材
English name (If any) BENGANG STEEL PLATES CO.,LTD.
English abbreviation (If any) BSP
Legal representative: Zhao Zhongmin
Reg. Add. No.16, Renmin Road, Pingshan District, Benxi City, Liaoning Province
Post Code
Office address No.16, Renmin Road, Pingshan District, Benxi City, Liaoning Province
Post Code:
Web Address None
Email. bgbc761@126.com
Ⅱ.Contact person and contact manner
Secretary of the Board Representative of Stock Affairs
Name Sun Yanbin Tong Weigang
No.16, Renmin Road, Pingshan District, No.16, Renmin Road, Pingshan District,
Address
Benxi City, Liaoning Province Benxi City, Liaoning Province
Tel. 024-47828860 024-47827003
Fax. 024-47827004 024-47827004
Email. bgbcsyb@126.com bgbc761@126.com
III. Place for information disclosure
Press media for information disclosure China Securities Journal, Securities Times, Hong Kong Commercial Daily
Web address for the annual report as assigned by CSRC. http://www.cninfo.com.cn
Place for inquiry of the annual report Secretary Office of the Board, Bengang Steel Plate Co., Ltd.
Bengang Steel Plates Co., Ltd. Annual Report 2015
IV. Change of Business Registration
Organization Code 24269024-3
Changes in principal business activities
No change
since listing (if any)
Changes is the controlling shareholder in
No change
the past (is any)
V. Miscellaneous information
CPA hired by the Company
Name of the CPA BDO China Shu Lun Pan Certified Public Accountants LLP
Address of the CPA Address: 4/F 61 Nanjing Rd. East, Huangpu, Shanghai
Name of CPA signed on the
Wu Xue, Zhang Huice
auditors report
Sponsoring institution hired by the Company, which is responsible to overseeing the Companys operation on a
continuous basis:
[] Applicable; [V] Not applicable
Financial consultancy institution hired by the Company, which is responsible to overseeing the Companys
operation on a continuous basis:
[] Applicable; [V] Not applicable
Ⅵ.Summary of Accounting data and Financial index
May the Company make retroactive adjustment or restatement of the accounting data of the previous years due to
change of the accounting policy and correction of accounting errors.
√Yes □ No
Changed over last year
2015 2014
（％）
Operating Gross income（RMB） 29,253,638,605.80 41,422,088,025.70 -29.38% 40,329,344,514.29
Net profit attributable to the
shareholders of the listed company -3,293,624,545.17 232,804,820.19 -1,514.76% 275,592,999.75
（RMB）
Net profit after deducting of
non-recurring gain/loss attributable
-3,452,130,239.63 187,126,217.32 -1,944.81% 56,290,264.91
to the shareholders of listed
company（RMB）
Cash flow generated by business
-2,305,005,968.10 2,868,140,094.86 -180.37% 2,687,944,078.48
operation, net（RMB）
Basic earning per -1.050 0.074 -1,518.92% 0.088
Bengang Steel Plates Co., Ltd. Annual Report 2015
share(RMB/Share)
Diluted gains per
-1.050 0.074 -1,518.92% 0.088
share(RMB/Share)(RMB/Share)
Net asset earning ratio（%） -24.11% 1.52% -25.63% 1.75%
End of Changed over last year
End of 2015 End of 2013
2014 （％）
Gross assets（RMB） 44,461,643,345.33 49,170,603,030.67 -9.58% 43,050,307,324.66
Net assets attributable to
shareholders of the listed company 11,934,100,372.02 15,384,562,323.08 -22.43% 15,308,337,697.63
（RMB）
Ⅶ.The differences between domestic and international accounting standards
1．Simultaneously pursuant to both Chinese accounting standards and international accounting standards
disclosed in the financial reports of differences in net income and net assets.
√Applicable □ Not applicable
Net profit attributable to the shareholders Net Assets attributable to the
of the listed company shareholders of the listed company
Amount in the Amount in the End of the reporting Beginning of the
reporting period previous period period reporting period
According to CAS -3,293,624,545.17 232,804,820.19 11,934,100,372.02 15,384,562,323.08
Items and amount adjusted according to IAS
2. Differences of net profit and net assets disclosed in financial reports prepared under overseas and
Chinese accounting standards.
√Applicable □ Not applicable
□ Applicable √Not applicable
Net profit attributable to the shareholders Net Assets attributable to the
of the listed company shareholders of the listed company
Amount in the End of the reporting End of the reporting Beginning of the
previous period period period reporting period
According to CAS -3,293,624,545.17 232,804,820.19 11,934,100,372.02 15,384,562,323.08
Items and amount adjusted according to IAS
The Company had no difference of the net profit or net assets disclosed in financial report, under either foreign
accounting rules or Chinese GAAP(Generally Accepted Accounting Principles) in the period.
Bengang Steel Plates Co., Ltd. Annual Report 2015
3.Accounting data differences between domestic and foreign accounting standards
□ Applicable √Not applicable
Ⅷ.Main Financial Index by Quarters
In RMB
First quarter Second quarter Third quarter Fourth quarter
Operating revenue 9,571,892,099.49 6,773,023,061.69 5,018,448,900.24 7,890,274,544.38
Net profit attributable to the
71,707,881.99 56,299,254.27 35,104,914.65 -3,456,736,596.08
shareholders of the listed company
Net profit after deducting of
non-recurring gain/loss attributable
52,169,643.70 53,111,615.06 35,098,170.03 -3,592,509,668.42
to the shareholders of listed
company
Net Cash flow generated by
601,173,782.82 -2,479,304,756.71 478,017,027.96 -904,892,022.17
business operation
Whether significant variances exist between the above financial index or the index with its sum and the financial
index of the quarterly report as well as semi-annual report index disclosed by the Company.
□ Yes √No
Ⅸ.Items and amount of non-current gains and losses
√Applicable □Not applicable
In RMB
Items Amount (2015) Amount (2014) Amount (2013) Notes
Non-current asset disposal
gain/loss(including the write-off part for -2,918,523.73 -3,000,928.56 -12,804,674.19
which assets impairment provision is made)
Govemment subsidy recognized in current
gain and loss(excluding those closely related
136,992,233.61 18,722,224.00 159,439,621.71
to the Companys business and granted
under the states policies)
Gain/loss from commissioned investment or
7,226,589.08 20,845,473.00 12,600,032.95
assets
Gain/loss from debt reorganization 12,200,032.42 5,940,400.95 17,709,392.13
Current net gain/loss of subsidiaries under
same control from beginning of term till 33,226,800.18
date of consolidation
Other non-business income and expenditures 5,644,831.10 5,156,149.77 9,465,980.04
Bengang Steel Plates Co., Ltd. Annual Report 2015
other than the above
Less: Influenced amount of income tax 639,468.02 710,902.39 -624,726.31
Influence on minority shareholders
1,273,813.90 959,144.29
equity (after tax)
Total 158,505,694.46 45,678,602.87 219,302,734.84 --
For the Companys non-recurring gain/loss items as defined in the Explanatory Announcement No.1 on
information disclosure for Compaines Offering their Securities to the Public-Non-recurring Gains and Losses and
its non-recurring gain/loss items as illustrated in the Explanatory Announcement No.1 on information Disclosure
for Companies offering their securities to the public-non-recurring Gains and losses which have been defined as
recurring gains and losses, it is necessary to explain the reason.
□ Applicable√ Not applicable
None of Non-recurring gain /loss items recorgnized as recurring gain /loss/items as defined by the information
disclosure explanatory Announcement No.1- Non –recurring gain/loss in the report period.
Bengang Steel Plates Co., Ltd. Annual Report 2015
III. Outline of Company Business
Ⅰ.Main Business the Company is Engaged in During the Report Period
(I). During the reporting period, the main businesses of the company are as followings, iron and steel smelting,
electricity generation, coal chemical industry, special steel profile, railway, import and export trade, research &
development, product sales, etc.,. By introducing the world-advanced equipment technology, the company
upgrades the equipments for main steel business and has basically built up a high-quality steel product base of 60
varies and 7,500-odd specifications. Wherein, high value-added and high-tech products take up more than 85%.
Its leading products, such as automobile surface plate, household appliance, petroleum pipe line, container plate
and boat deck, are widely applied in many fields, including automobile, household appliances, petrochemical
engineering, machine manufacturing, energy transportation, architectural decoration, metal parts, etc., and they
are exported to more than 60 countries and regions.
During the reporting period, the company strengthens its innovation of marketing service, further matures its
system of marketing, research and production, optimizes its regional distribution, stabilizes its distribution channel,
and increases the profits generated from varieties, specifications and in different regions. By comparing the
benchmark price, purchasing at an appropriate time, replacing the variety, adjusting the structure, infomationizing
procurement and other measures, it serves the economic operation. Through a scientific adjustment of production
organization model in different production lines and a guiding orientation of”economic operation, cost-reduction
and profit-increment”, it promotes different working procedures and production to proceed in a stead and smooth
manner, while the quality of economic operation is improving steadily.
During the reporting period, the main performance-driving factors are: it deepens enterprise reform roundly,
integrates energy medium system to establish a main energy plant, achieves a specialized management of energy
medium and economic operation, and the product research institute sets up a broadband salary system which
applies to the R&D staff group and uses ”Responsibility, technology, contribution ans such factors” to participate
in the distribution of salary; it makes clear the guiding ideology, planning target, development principle,
implementation approach, development direction, safeguard measures, etc., of the 13th five-year development plan;
it quickens the construction of major technical improvement projects, cold-rolled high-strength steel project went
into pilot production stage successively, and the 360 square-meter sintering machine is put into use; it improves its
technology research and development system, builds a technological innovation platform, perfects its
technological management system and incessantly enhances its core competitiveness.
During the reporting period, the contents above had no major changes.
(II) During the reporting period, the iron and steel industry the company is has over-excessive productivity,
the overall demand size is shrinking continuously, the market price plunges into a bottom low, the price of rolled
steel drops to a lowest point in recent 20 years, and the whole market is suffering losses; the iron and steel
enterprises are facing a exacerbating environment. Through a deepening reform and management innovation, it
narrows the economic benefit decline extent effectively, and the overall strength of the company maintains above
the middle level in the whole industry.
Bengang Steel Plates Co., Ltd. Annual Report 2015
Ⅱ.Major Changes i
