Bengang Steel Plates Co., Ltd. The 3 rd Quarterly Report 2014 (Full Text)
Bengang Steel Plates Co., Ltd.
The 3rd Quarterly Report 2014
Oct 2014
Bengang Steel Plates Co., Ltd. The 3 rd Quarterly Report 2014 (Full Text)
Chapter I. Important Statement
The Board of Directors 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.
All of the directors presented the board meeting at which this Quarterly Report was examined.
Chairman of the Board – Mr. Wang Shu, Chief Financial Officer – Mr. Han Ge, and Head of Accounting Dept. –
Mr. Wang Shaoyu hereby declare: the authenticity and integrality of the report are guaranteed.
Bengang Steel Plates Co., Ltd. The 3 rd Quarterly Report 2014 (Full Text)
Chapter II. Financial Highlights and Change of Shareholders
I. Main accounting data and indices
Are there any retrospective adjustment or restatement of financial information of previous year due to change of accounting policies
or correcting of accounting errors?
[V] Yes [] No
Changed at end of report
Ended this report End of prev. year period over end of previous
term period
Not adjusted Adjusted Adjusted
Gross Assets (RMB) 44,754,747,298.67 43,050,307,324.66 43,050,307,324.66 3.96%
Net asset attributable to owners of
15,359,505,787.25 15,308,337,697.63 15,308,337,697.63 0.33%
the PLC
The amount of from
From beginning of year beginning of year to the end
Increase/decrease
This report term to the end of report of report period over the
(%)
period amount of same period last
year
Turnover (RMB) 10,383,901,975.97 7.01% 30,196,578,257.78 -0.76%
Net profit attributable to
shareholders of the listed company 27,917,466.35 -79.30% 201,811,775.99 -32.31%
(yuan)
Net profit attributable to the
shareholders of the listed company
18,349,213.31 -84.62% 171,124,583.99 -31.99%
and after deducting of non-recurring
gain/loss(RMB)
Net Cash flow generated by
-- -- -235,268,594.72 -142.59%
business operation (RMB)
Basic earnings per share
0.01 -75.00% 0.06 -40.00%
(Yuan/share)
Diluted earnings per share
0.01 -75.00% 0.06 -40.00%
(Yuan/share)
Net income on asset, weighted 0.18% -0.69% 1.28% -0.57%
Non-recurring gain/loss items and amounts
[V] Applicable Not applicable
In RMB Yuan
Bengang Steel Plates Co., Ltd. The 3 rd Quarterly Report 2014 (Full Text)
Amount of the period from the
Items beginning of year to the end of Remarks
report term
Gain/loss from disposal of non-current assets (includes the recovered part of asset
3,009,167.02
impairment provision already provided)
Gains and losses included in the current period of government subsidies, excluding
those government grants which are closely related to normal business and in line with 1,159,998.00
national policy , or in accordance with fixed standards or quantities
Gain/loss from commissioned investment or assets 20,845,473.00
Gain/loss from debt reorganization 5,468,594.65
Other non-business income and expenditures other than the above 3,618,266.82
Less: Influenced amount of income tax 3,314,006.62
Influence on minority shareholders equity (after tax) 100,300.87
Total 30,687,192.00 --
If the company defines those items to recurring gain/loss items, which were defined by “Regulations of Information Disclosure of
PLCs, Explanation No.1 - Non-recurring gain/loss” as non-recurring gain/loss, please provide reason here.
[] Applicable; [V] Not applicable
None of non-recurring gain/loss items recognized as recurring gain/loss items as defined by the Information Disclosure Explanatory
Announcement No.1 – Non-recurring gain/loss in the report period.
II. Total of shareholders and top-10 holders of current shares at end of period
1 Total of shareholders and top-10 holders at end of the report period
in shares
Total common shareholders at the end
59,541
of the report period
Top 10 common share holders
Amount of Frozen or pledged
Properties of Share Amount of
Name of the shareholder unconditional shares
shareholder proportion % shares Status of shares Amount
held
State-owned
Benxi Steel (Group) Ltd. 81.77% 2,564,430,000
legal person
GIC PRIVATE Overseas
0.80% 25,044,081
LIMITED legal person
GSIC A/C MONETARY
Overseas
AUTHORITY OF 0.31% 9,724,084
legal person
SINGAPORE
BBH A/C VANGUARD
EMERGING Overseas
0.26% 8,157,311
MARKETS STOCK legal person
INDEX FUND
DWS CHINA EQUITY Overseas
0.15% 4,549,984
FUND legal person
China Galaxy Securities
Client Credit Transaction
Others 0.11% 3,457,060
Guarantee Securities
Account
Bengang Steel Plates Co., Ltd. The 3 rd Quarterly Report 2014 (Full Text)
Overseas
SEUNG YEOL PARK natural 0.11% 3,436,395
person
LSV EMERGING
Overseas
MARKETS EQUITY 0.11% 3,385,700
legal person
FUND,L.P.
Taifook Securities
Overseas
Company 0.10% 3,243,409
legal person
Limited-Account Client
Overseas
Bao Xinfa natural 0.10% 3,100,004
person
Top 10 Holders of Unrestricted Shares
Category of shares
Name of the shareholder Number of unrestricted shares held
Category of shares Amount
RMB common
Benxi Steel (Group) Ltd. 2,564,430,000 2,564,430,000
shares
Foreign shares
GIC PRIVATE LIMITED 25,044,081 placed in domestic 25,044,081
exchange
Foreign shares
GSIC A/C MONETARY AUTHORITY
9,724,084 placed in domestic 9,724,084
OF SINGAPORE
exchange
Foreign shares
BBH A/C VANGUARD EMERGING
8,157,311 placed in domestic 8,157,311
MARKETS STOCK INDEX FUND
exchange
Foreign shares
DWS CHINA EQUITY FUND 4,549,984 placed in domestic 4,549,984
exchange
China Galaxy Securities Client Credit
RMB common
Transaction Guarantee Securities 3,457,060 3,457,060
shares
Account
Foreign shares
SEUNG YEOL PARK 3,436,395 placed in domestic 3,436,395
exchange
Foreign shares
LSV EMERGING MARKETS
3,385,700 placed in domestic 3,385,700
EQUITY FUND,L.P.
exchange
Foreign shares
Taifook Securities Company
3,243,409 placed in domestic 3,243,409
Limited-Account Client
exchange
Foreign shares
Bao Xinfa 3,100,004 placed in domestic 3,100,004
exchange
Notes to relationship or “action in It is unknown to the Company whether there is any related connection or Action in
concert” among the top ten Concert as described by Rules of Information Disclosing Regarding Changing of
shareholders. Shareholding Status of Listed Companies existing among the above shareholders.
Participating of financing operations by
top 10 unrestricted common share None
holders
Whether there was any repurchasing deal made between any of the top 10 shareholders and top 10 holders of unrestricted shares in
the report period
[] Yes [V] No
There was not any repurchasing deal made between any of the top 10 shareholders and top 10 holders of unrestricted shares in the
report period
Bengang Steel Plates Co., Ltd. The 3 rd Quarterly Report 2014 (Full Text)
Chapter III. Significant Issues
I. Particulars and causations of material change in major accounting items and indices
[V] Applicable Not applicable
(I) Influences of the newly revised accounting standard on the consolidated financial
statements of the Company
According to the newly revised “Enterprise Accounting Standard No.2 – Long-term equity investment”, when the
Company is not committing common control or material influence on any of the invested entity, and there is no
fair value in an active market or the fair value is not measurable, the corresponding “long-term equity investment”
shall be combined as described by “Enterprise Accounting Standard No.2 – Recognition and measurement of
financial instruments”. Therefore the closing balance of RMB20,271,278.63 under long-term equity investment as
of the end of September 2014 was transferred to saleable financial assets, and the opening balance of the
consolidated statements was adjusted thereof.
Revising of the accounting standard was only committing influences on the amounts of saleable financial assets
and long-term equity investment, but not on the amounts of total assets, total liabilities, net assets, and net profit
of year 2013 and the report period.
(II) Change and causations of major items and indexes in the financial statements
Material items in the consolidated financial statements which have changed by over 30% over that of at end of 2013, and the
causations.
I. Items in the balance sheet Changed Causations of change
by
Other current assets -64% Decrease of undue financial instruments in the period
Construction-in-process 67% Increase of settlement of construction in process in the
period
Project materials 358% Increasing of project materials inventory
Intangible assets 146% Completing of the takeover procedures of the land rights of
High-strength Steel and
Notes payable 274% Increasing of trade settlement by payable notes in the period
Tax payable -30% Decrease of tax payable at end of period
Non-recurring liabilities due in 1 year -80% Decrease of long-term borrowings transferred to under 1
year
Long-term loan 56% Increase of long-term borrowings
Special reserves 2918% Decrease of safety fees in the period
Material items in the consolidated financial statements which have changed by over 30% over that of Jan-Sept 2013, and the
causations.
II. Items of income statement Changed Causations of change
by
Financial expenses 73% Increase of loan balance and change of exchange rate
Asset impairment 64% Increase of inventory depreciation provision provided
Investment gains 684% Increase of financial instruments purchased
Non-operational incomes -54% Decrease of gains from debtor reconstruction
Non-operational expenditures -99% Decrease of loss from disposal of fixed assets
Income tax expense -74% Decrease of profit of the subsidiaries
Bengang Steel Plates Co., Ltd. The 3 rd Quarterly Report 2014 (Full Text)
Minority shareholders equity 961% Increase of profit from holding subsidiaries
III. Items of cash flow statement Changed Causations of change
by
Taxes and fees paid -54% Decrease of VAT paid in the period
Net cash flow from business operation -301% Decrease of cash from sales of goods and services, and
increase of cash paid for goods and services in the period
Cash received
