Report for the First Quarter of 2017 of Bengang Steel Plates Co., Ltd.
Bengang Steel Plates Co., Ltd.
Report for the First Quarter of 2017
April 2017
Report for the First Quarter of 2017 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 2017 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 due to change of the
accounting policy and correction of accounting errors.
□ Yes √ No
Jan.-Mar. 2017 Jan.-Mar. 2016 Changes (+/-)%
Operating income（RMB） 11,132,407,692.65 6,163,797,202.21 80.61%
Net profit attributable to the shareholders
302,653,287.07 41,106,090.36 636.27%
of the listed company（RMB）
Net profit after deducting of non-recurring
gain/loss attributable to the shareholders of 295,684,784.12 36,347,865.03 713.49%
listed company（RMB）
Net Cash flows generated by business
-3,422,732,831.24 2,598,490,197.76 -231.72%
operation（RMB）
Basic earnings per share(RMB/Share) 0.097 0.013 646.15%
Diluted earnings per share(RMB/Share) 0.097 0.013 646.15%
Weighted average net assets yield (%) 2.30% 0.34% 1.96%
31 Mar. 2017 31 Mar. 2016 Changes (+/-)%
Gross assets（RMB） 53,301,030,464.64 54,155,710,718.91 -1.58%
Net assets attributable to shareholders of
13,023,751,737.36 12,715,354,551.15 2.43%
the listed company（RMB）
Items and Amount of the non-recurring gains and losses
√ Applicable □ Not applicable
Unit：Yuan
Items Jan.-Mar. 2017 Notes
Profit or loss from disposal of non-current assets (including the
-2,338,387.11
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 7,173,500.00
national policy and enjoyed constantly in certain quota or quantity
according to a certain standard）
Profit or loss from investment or assets entrusted to others 2,186,117.80
Profit or loss from debt restructuring 506,210.42
Report for the First Quarter of 2017 of Bengang Steel Plates Co., Ltd.
Other non-operating revenue and expenditure other than above
1,766,793.23
items
Less: Impact of income tax 2,323,558.59
Impact of minority interests (after tax) 2,172.80
Total 6,968,502.95 --
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
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 59,029 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 & Pledged 1,221,000,000
State-owned legal
Iron (Group) Co., 77.88% 2,442,316,069
person Frozen 45,000,000
Ltd.
Bank of China -
Fortis Haitong
Earnings Growth Others 0.31% 9,610,837
Securities
Investment Funds
China Merchants Domestic Non
Securities Co., State-owned legal 0.28% 8,769,698
Ltd. person
Zhou Jie Domestic natural 0.16% 4,900,000
Report for the First Quarter of 2017 of Bengang Steel Plates Co., Ltd.
person
Zhan Domestic natural
0.15% 4,660,515
Changcheng person
VANGUARD
TOTAL
Overseas legal
INTERNATION 0.15% 4,606,141
person
AL STOCK
INDEX FUND
CITIGROUP
GLOBAL Overseas legal
0.14% 4,234,960
MARKETS person
LIMITED
Domestic natural
Zhu Shoupeng 0.13% 4,216,112
person
Hong Kong
Overseas legal
Securities 0.13% 4,073,673
person
Clearing Co., Ltd.
Domestic natural
Chen Danzhen 0.11% 3,479,055
person
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. 2,442,316,069 2,442,316,069
in RMB
Bank of China - Fortis Haitong
Common shares
Earnings Growth Securities 9,610,837 9,610,837
in RMB
Investment Funds
Common shares
China Merchants Securities Co., Ltd. 8,769,698 8,769,698
in RMB
Foreign shares
placed in
Zhou Jie 4,900,000 4,900,000
domestic
exchange
Foreign shares
placed in
Zhan Changcheng 4,660,515 4,660,515
domestic
exchange
VANGUARD TOTAL Foreign shares
4,606,141 4,606,141
INTERNATIONAL STOCK INDEX placed in
Report for the First Quarter of 2017 of Bengang Steel Plates Co., Ltd.
FUND domestic
exchange
Foreign shares
CITIGROUP GLOBAL MARKETS placed in
4,234,960 4,234,960
LIMITED domestic
exchange
Common shares
Zhu Shoupeng 4,216,112 4,216,112
in RMB
Hong Kong Securities Clearing Co., Common shares
4,073,673 4,073,673
Ltd. in RMB
Common shares
Chen Danzhen 3,479,055 3,479,055
in RMB
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.
Shareholders among the top 10
participating in Securities lending None.
and borrowing business（if any）
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. .
(2) Number of total preferred shareholders and preferred shares hold by Top 10 preferred shareholders
□ Applicable √ Not applicable
Report for the First Quarter of 2017 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 2016
1. Financial Position Statement Increase/Decr
Reasons
items ease (%)
Construction materials -41% Due to the increase of construction materials usage
Due to the increase of the solution pay of notes
Notes payable -48%
payable at maturity
Due to the decrease of current tax liabilities at the end
Current tax liabilities -35%
of this period
Due to the decrease of provision of corporate bond
Interests payable -72%
interest
Non-current liabilities due within Due to the decrease of long-term loans due within one
-52%
one year year
Special reserves 1541% Due to the decrease of safety production cost
Undistributed profits 61% 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 2016
Increase
2. Income Statement
/Decrea Reasons
items
se (%)
Operating income 81% Due to the increase of product settlement price
Operating cost 84% Due to the increase of procurement price of raw material
Due to the reclassification of housing property tax, land use tax, vehicle
Tax and surcharges 1120% and vessel use tax, and stamp tax from administration expenses to tax
and surcharges
Sales expenses 52% Due to the increase of expenses such as railway freight expense
Net profit attributable 636% Due to the increase of product market price
Report for the First Quarter of 2017 of Bengang Steel Plates Co., Ltd.
to owners of parent
company
Profit or loss of
non-controlling -33% Due to the decrease of profit of holding subsidiaries
shareholders
Increase/Dec
3. Cash flow items Reasons
rease (%)
Cash received from sale of goods or
59% Due to the increase of product market price
rendering of services
Tax rebate received -77% Due to the decrease of received tax rebate
Due to the increase of cash paid for goods and
Cash paid for goods and services 532%
services
Due to the increase of all types of taxes such as
Cash paid for all types of taxes 273%
value-added tax
Net cash flows generated from operating Due to the increase of cash paid for goods and
-232%
activities services
Due to the decrease of bank financial products
Cash paid for acquisition of investments -100%
purchased
The net cash flow generated by Due to the decrease of bank financial products
-39%
investment activities purchased
Cash proceeds from borrowings 81% Due to the increase of bank loans
Cash repayments of borrowings 43% Due to the increase of repayment of bank loans
The net cash flow generated by financing Due to the increase of net amount of financing
285%
activities added in this period
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.
Report for the First Quarter of 2017 of Bengang Steel Plates Co., Ltd.
4 Forecast of operating results for Jan. 2017-June 2017
Warning of possible loss or considerable YoY 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:
□ 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 2017 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 2017
Unit：Yuan
Items Ending balance Beginning balance
Current assets：
Cash at bank and on hand 11,455,441,876.19 12,931,912,017.84
Settlement provisions
Capital lent
Financial assets at fair value
through profit or loss
Derivative financial assets
Notes receivable 2,497,510,577.11 2,030,681,138.03
Accounts receivable 641,281,179.62 623,865,427.25
Prepayments 610,352,843.76 493,839,659.44
Premium receivable
Reinsurance accounts receivable
Receivable deposit for reinsurance
contract
Interests receivable 4,478,818.85 4,208,818.85
Dividends receivable
Other receivables 111,329,667.28 117,909,972.49
Redemptory financial assets for
sale
Inventories 10,816,743,441.94 9,782,173,936.74
Assets classified as held for sale
Non-current assets due within one
year
Other current assets 365,478,907.17 513,398,815.83
Total current assets 26,502,617,311.92 26,497,989,786.47
Report for the First Quarter of 2017 of Bengang Steel Plates Co., Ltd.
Non-current assets：
Loan and advances issued
Available-for-sale financial assets 14,856,585.63 14,856,585.63
Held-to-maturity investment
Long-term receivables
Long-term equity investments
Investment properties
Fixed assets 20,226,889,676.05 20,688,468,637.44
Construction in progress 5,905,632,265.82 6,210,673,674.11
Construction materials 4,558,924.40 7,783,370.29
Disposal of fixed assets
Productive biological assets
Oil and gas assets
Intangible assets 258,346,257.74 259,837,410.93
Development expenditure
Goodwill
Long-term deferred expenses
Deferred tax assets 388,129,443.08 476,101,254.04
Other non-current assets
Total non-current assets 26,798,413,152.72 27,657,720,932.44
Total assets 53,301,030,464.64 54,155,710,718.91
Current Liabilities：
Short-term loans 20,921,993,850.00 18,762,472,779.48
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 3,297,795,093.27 6,372,173,897.13
Accounts payable 4,886,222,700.68 5,680,244,661.52
Advance from customers 3,855,217,883.19 3,679,477,129.80
Financial assets sold for
Report for the First Quarter of 2017 of Bengang Steel Plates Co., Ltd.
repurchase
Handling charges and commission
payable
Employee benefits payable 23,265,721.27 24,063,493.70
Current tax liabilities 29,805,235.24 45,771,585.46
Interests payable 20,699,437.38 75,115,265.66
Dividends payable
Other payables 459,276,462.39 460,009,213.78
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
211,958,044.05 437,669,535.66
one year
Other current liabilities
Total current liabilities 33,706,234,427.47 35,536,997,562.19
Non-current liabilities：
Long-term loans 4,118,636,363.10 3,448,931,721.62
Bonds payable 1,495,944,084.71 1,494,825,782.32
Including: Preferred stock
Perpetual bond
Long-term payables
Long-term employee benefits
payable
Special accounts payable
Estimated liabilities
Deferred income 403,225,500.00 410,399,000.00
Deferred tax liabilities
Other non-current liabilities
Total non-current liabilities 6,017,805,947.81 5,354,156,503.94
Total liabilities 39,724,040,375.28 40,891,154,066.13
Shareholders’ equity:
Report for the First Quarter of 2017 of Bengang Steel Plates Co., Ltd.
Share capital 3,136,000,000.00 3,136,000,000.00
Other equity instruments
Including: Preferred stock
Perpetual bond
Capital reserves 9,114,845,542.05 9,114,845,542.05
Less: treasury shares
Other comprehensive income
Special reserves 6,116,621.00 372,721.86
Surplus reserves 961,105,529.85 961,105,529.85
General risk reserve
Undistributed profits -194,315,955.54 -496,969,242.61
Total equity attributable to equity
13,023,751,737.36 12,715,354,551.15
holders of the parent company
Non-controlling interests 553,238,352.00 549,202,101.63
Total shareholder’s equity 13,576,990,089.36 13,264,556,652.78
Total liabilities and shareholder’s equity 53,301,030,464.64 54,155,710,718.91
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 10,896,231,005.35 12,402,995,087.03
Financial assets at fair value
through profit or loss
Derivative financial assets
Notes receivable 2,305,460,170.65 1,870,384,367.64
Accounts receivable 477,254,537.02 455,070,302.00
Prepayments 604,382,898.04 487,869,713.72
Interests receivable 4,478,818.85 4,208,818.85
Dividends receivable
Other receivables 200,843,094.42 210,089,804.88
Inventories 8,899,422,322.64 8,308,291,029.07
Assets classified as held for sale
Report for the First Quarter of 2017 of Bengang Steel Plates Co., Ltd.
Non-current assets due within one
year
Other current assets 271,779,132.40 431,675,085.33
Total current assets 23,659,851,979.37 24,170,584,208.52
Non-current assets：
Available-for-sale financial assets 12,888,980.00 12,888,980.00
Held-to-maturity investment
Long-term receivables
Long-term equity investments 1,700,981,902.16 1,700,981,902.16
Investment properties
Fixed assets 17,749,581,679.27 18,125,714,092.15
Construction in progress 5,885,150,018.22 6,196,524,880.06
Construction materials 4,134,138.08 4,134,139.52
Disposal of fixed assets
Productive biological assets
Oil and gas assets
Intangible assets 154,561,918.21 155,388,452.53
Development expenditure
Goodwill
Long-term deferred expenses
Deferred tax assets 290,724,794.06 378,696,605.02
Other non-current assets
Total non-current assets 25,798,023,430.00 26,574,329,051.44
Total assets 49,457,875,409.37 50,744,913,259.96
Current Liabilities：
Short-term loans 19,139,264,150.00 17,376,963,500.00
Financial liabilities at fair value
through profit or loss
Advance from customers
Notes payable 2,997,795,093.27 5,768,523,196.16
Accounts payable 4,862,889,009.56 5,939,417,729.46
Advance from customers 3,813,635,878.06 3,671,944,099.35
Employee benefits payable 22,095,224.07 22,386,057.59
Current tax liabilities 15,950,617.91 28,902,954.65
Interests payable 11,947,321.13 70,109,821.13
Report for the First Quarter of 2017 of Bengang Steel Plates Co., Ltd.
Dividends payable
Other payables 284,754,274.35 289,522,026.53
Liabilities held for sale
Non-current liabilities due within
211,958,044.05 437,669,535.66
one year
Other current liabilities
Total current liabilities 31,360,289,612.40 33,605,438,920.53
Non-current liabilities：
Long-term loans 4,118,636,363.10 3,448,931,721.62
Bonds payable 1,495,944,084.71 1,494,825,782.32
Including: Preferred stock
Perpetual bond
Long-term payables
Long-term employee benefits
payable
Special accounts payable
Estimated liabilities
Deferred income 403,225,500.00 410,399,000.00
Deferred tax liabilities
Other non-current liabilities
Total non-current liabilities 6,017,805,947.81 5,354,156,503.94
Total liabilities 37,378,095,560.21 38,959,595,424.47
Shareholders’ equity:
Share capital 3,136,000,000.00 3,136,000,000.00
Other equity instruments
Including: Preferred stock
Perpetual bond
Capital reserves 8,694,693,859.93 8,694,693,859.93
Less: treasury shares
Other comprehensive income
Special reserves 4,774,956.02 230,735.89
Surplus reserves 961,105,529.85 961,105,529.85
Undistributed profits -716,794,496.64 -1,006,712,290.18
Total shareholder’s equity 12,079,779,849.16 11,785,317,835.49
Total liabilities and shareholder’s equity 49,457,875,409.37 50,744,913,259.96
Report for the First Quarter of 2017 of Bengang Steel Plates Co., Ltd.
(3) Consolidated Statement of Comprehensive Income
Unit：Yuan
Items 2016
1. Total operating income 11,132,407,692.65 6,163,797,202.21
Including: Operating income 11,132,407,692.65 6,163,797,202.21
Interest income
Premium earned
Income from handling
charges and commission
2. Total operating cost 10,738,188,697.63 6,009,165,031.97
Including: Operating cost 9,930,127,676.02 5,389,535,280.17
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 77,416,977.43 6,347,694.24
Selling and distribution
309,701,590.37 203,842,519.34
expenses
General and administrative
171,564,522.91 174,510,134.26
expenses
Financial expenses 249,377,930.90 234,929,403.96
Asset impairment loss
Add: Gains from the change in fair
value (\"-\" for loss)
Income on investment (\"-\" for
2,186,117.80
loss)
Including: Income from
associates and joint ventures
Exchange gain (\"-\" for loss)
3 Operating profit (\"-\" for loss 396,405,112.82 154,632,170.24
Report for the First Quarter of 2017 of Bengang Steel Plates Co., Ltd.
Add: Non-operating income 9,446,503.65 6,384,914.32
Including: Gain on disposal of
non-current assets
Less: Non-operating expenses 2,338,387.11
Including: Loss on disposal of
2,338,387.11
non-current assets
4 Total profit (\"-\" for total loss) 403,513,229.36 161,017,084.56
Less: Income tax expenses 97,028,442.48 114,182,659.41
5 Net Profit (\"-\" for net loss) 306,484,786.88 46,834,425.15
Attributable to: Owners of parent
302,653,287.07 41,106,090.36
company
Non-controlling shareholders 3,831,499.81 5,728,334.79
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
remeasuring available-for-sale financial
assets
3.Gains and losses resulting
from reclassification of held-to maturity
investment to financial assets held-for
Report for the First Quarter of 2017 of Bengang Steel Plates Co., Ltd.
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 306,484,786.88 46,834,425.15
Total comprehensive income
302,653,287.07 41,106,090.36
attributable to owners of parent company
Total comprehensive income
attributable to non-controlling 3,831,499.81 5,728,334.79
shareholders
8. Earnings per share:
（1）Basic earnings per share 0.097 0.013
（2）Diluted earnings per share 0.097 0.013
Legal Representative：Wang Shu Person in charge of accounting：Han Ge Accounting Dept Leader：Wang Shaoyu
(4) Income Statement of the Parent Company
Unit：元
Items 2016
1 Turnover 11,398,661,706.90 6,349,888,059.09
Less: Operating cost 10,366,737,537.66 5,686,530,851.21
Taxes and surcharges 70,478,527.46 2,581,022.77
Selling and distribution
200,688,771.46 169,910,631.40
expenses
General and administrative
160,222,229.54 159,071,749.26
expenses
Financial expenses 231,289,051.43 219,438,179.77
Asset impairment loss
Add: Gains from the change
in fair value (\"-\" for loss)
Report for the First Quarter of 2017 of Bengang Steel Plates Co., Ltd.
Income on investment (\"-\" for
2,186,117.80
loss)
Including: Income from
associates and joint ventures
2 Operating profit (\"-\" for loss) 371,431,707.15 112,355,624.68
Add: Non-operating income 8,796,284.46 6,277,884.59
Including: Gain on disposal of
non-current assets
Less: Non-operating expenses 2,338,387.11
Including: Loss on disposal of
2,338,387.11
non-current assets
3 Total profit (\"-\" for total loss) 377,889,604.50 118,633,509.27
Less: Income tax expenses 87,971,810.96 108,445,193.70
4 Net Profit (\"-\" for net loss) 289,917,793.54 10,188,315.57
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
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
Report for the First Quarter of 2017 of Bengang Steel Plates Co., Ltd.
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 289,917,793.54 10,188,315.57
7 Earnings per share：
（1）Basic earnings per share
（2）Diluted earnings per share
(5) Consolidated Statement of Cash Flows
Unit：元
Items 2016
1.Cash flow from operating activities：
Cash received from sale of goods
7,100,739,711.79 4,456,676,706.32
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
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
Report for the First Quarter of 2017 of Bengang Steel Plates Co., Ltd.
business
Tax rebate received 40,096,198.40 176,587,078.95
Other cash received relating to
69,675,649.95 72,962,648.74
operating activities
Subtotal of cash inflow received from
7,210,511,560.14 4,706,226,434.01
operation activities
Cash paid for goods and services 9,858,638,834.91 1,558,773,903.55
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
453,316,467.11 443,360,862.49
employees
Cash paid for all types of taxes 296,159,456.20 79,482,630.79
Other cash paid relating to
25,129,633.16 26,118,839.42
operating activities
Subtotal of cash outflow received from
10,633,244,391.38 2,107,736,236.25
operation activities
Net cash flows generated from
-3,422,732,831.24 2,598,490,197.76
operating activities
2. Cash flows from investing
activities：
Cash received from return on
159,000,000.00
investments
Cash received from distribution of
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
Report for the First Quarter of 2017 of Bengang Steel Plates Co., Ltd.
investing activities
Subtotal of cash inflow received from
161,186,117.80
investing activities
Cash paid for acquisition of fixed
assets, intangible assets and other 486,764,678.93 495,775,437.02
long-term assets
Cash paid for acquisition of
41,000,000.00
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
486,764,678.93 536,775,437.02
investing activities
The net cash flow generated by
-325,578,561.13 -536,775,437.02
investment activities
3. Cash flows from financing
activities：
Proceeds from investment
Including: Proceeds from
investment of non-controlling
shareholders of subsidiary
Proceeds from borrowings 6,602,518,658.09 3,653,371,876.26
Cash received from bond issuance
Other proceeds relating to
financing activities
Subtotal cash inflow received from
6,602,518,658.09 3,653,371,876.26
financing activities
Cash repayments of borrowings 3,997,546,531.91 2,800,725,250.60
Cash payments for distribution of
282,352,521.52 249,369,421.96
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 4,279,899,053.43 3,050,094,672.56
Report for the First Quarter of 2017 of Bengang Steel Plates Co., Ltd.
financing activities
The net cash flow generated by
2,322,619,604.66 603,277,203.70
financing activities
4. Effect of foreign exchange rate
-8,665,398.73 -27,118,253.24
changes on cash and cash equivalents
5. Net increase in cash and cash
-1,434,357,186.44 2,637,873,711.20
equivalents
Add: Cash and cash equivalents at
12,273,574,488.67 5,140,477,745.07
the beginning of the period
6. Cash and cash equivalents at the
10,839,217,302.23 7,778,351,456.27
ending of the period
(6) Cash Flow Statement of Parent Company
Unit：yuan
Items 2016
1.Cash flow from operating activities：
Cash received from sale of goods
7,138,918,917.92 4,019,869,377.46
or rendering of services
Tax rebate received 4,990,848.26 172,506,656.56
Other cash received relating to
50,953,435.38 57,059,087.68
operating activities
Subtotal of cash inflow received from
7,194,863,201.56 4,249,435,121.70
operation activities
Cash paid for goods and services 9,605,833,537.74 1,120,248,395.70
Cash paid to and on behalf of
429,807,971.99 419,087,334.46
employees
Cash paid for all types of taxes 271,085,915.47 30,358,813.93
Other cash paid relating to
20,753,329.17 22,899,983.64
operating activities
Subtotal of cash outflow received from
10,327,480,754.37 1,592,594,527.73
operation activities
Net cash flows generated from
-3,132,617,552.81 2,656,840,593.97
operating activities
2. Cash flows from investing
activities：
Cash received from return on
159,000,000.00
investments
Report for the First Quarter of 2017 of Bengang Steel Plates Co., Ltd.
Cash received from distribution of
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
161,186,117.80
investing activities
Cash paid for acquisition of fixed
assets, intangible assets and other 474,766,092.93 485,499,487.61
long-term assets
Cash paid for acquisition of
41,000,000.00
investments
Net cash received from subsidiary
and other operating unit
Other cash paid relating to
investing activities
Subtotal of cash outflows from
474,766,092.93 526,499,487.61
investing activities
The net cash flow generated by
-313,579,975.13 -526,499,487.61
investment activities
3. Cash flows from financing
activities：
Proceeds from investment
Proceeds from borrowings 5,978,931,200.00 3,412,740,000.00
Cash received from bond issuance
Other proceeds relating to
financing activities
Subtotal cash inflow received from
5,978,931,200.00 3,412,740,000.00
financing activities
Cash repayments of borrowings 3,743,326,531.91 2,700,039,599.29
Cash payments for distribution of
267,274,159.52 234,110,903.61
dividends, profit or interest expenses
Other cash payments relating to
financing activities
Report for the First Quarter of 2017 of Bengang Steel Plates Co., Ltd.
Subtotal of cash outflows from
4,010,600,691.43 2,934,150,502.90
financing activities
The net cash flow generated by
1,968,330,508.57 478,589,497.10
financing activities
4. Effect of foreign exchange rate
-8,663,163.83 -27,116,280.47
changes on cash and cash equivalents
5. Net increase in cash and cash
-1,486,530,183.20 2,581,814,322.99
equivalents
Add: Cash and cash equivalents at
11,876,536,613.66 4,921,089,319.57
the beginning of the period
6. Cash and cash equivalents at the
10,390,006,430.46 7,502,903,642.56
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.
