Bengang Steel Plates Co., Ltd.
First Quarter Report 2019
April 2019
Ⅰ. Important NoticeThe Board of Directors, the Supervisory Committee and the Directors, members ofthe Supervisory Committee and senior management of the Company guarantee thatthere are no misrepresentations or misleading statements, or material omission in thisrepor t, 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 thisrepor t was examined.
Gao Lie, Chairman of the Company, Shen Qiang, the principal in charge of theaccounting, and Zhao Zhonghua, Chie f of Accounting Affairs, make the pledge forthe authenticity, accuracy and integrity of the attached financial statements.
II. Company Profile
I. Main Accounting data and Financial index
Whether the Company makes retroactive adjustment or restatement of the accounting data of the previous year□ Yes √ No
Jan.-Mar. 2019 Jan.-Mar. 2018 Changes (+/-)Ope rating income(RMB)11,761,190,575.63
11,641,518,226.15
1.03%
Net profit attr ibuta ble to theshareholders of the listed company(RMB)
271,606,318.07
350,629,492.24
-22.54%
Net profit after deducting ofnon-rec urring gain/lo ss attributable tothe shareholders of listed company(RMB)
259,096,025.14
347,300,210.06
-25.40%
Net Cash flows generated by businessoperation(RMB)
2,752,557,195.47
-8,871,507,868.81
129.35%
Basic earnings per share (RMB/Share) 0.07
0.09
-22.22%
Diluted earnings per share(RMB/Share)
0.07
0.09
-22.22%
Weighted average net assets yield (%) 1.41%
2.13%
-0.72%
31 Mar. 2019 31 Mar. 2018 Changes (+/-)Gross assets(RMB)60,065,338,433.65
59,632,504,915.83
0.73%
Net assets attributable to shareholdersof the listed company(RMB)
19,404,994,363.90
19,126,258,116.67
1.46%
Items and amount of non-recurring profit and loss√ Applicable □ Not applicable
Unit: RMB
Items Jan.-Mar. 2019 NotesProfit or loss from disposal of non-
(including the write-
off part for which assets |
impairment pr ovision is made)
-3,900,743.31
Details of government subsidies recorded into current |
profits and loss(
closely related to the company’
s normal business |
20,821,500.00
according to a certain standard)Deb t restructuring gains and losses 50,640.00
operatio n, meeting the reg ulation of natio nal policy and enjoyed constantly in certain quota or quantity | |
Other no n-oper ating revenue and expe
above items
-289,318.62
ndit ur e o the r tha n |
Less: Impact of income tax 4,170,519.52
Impact of minority interests (after tax) 1,265.62
Total 12,510,292.93
--
For the Company’s non-recurring profit and loss items as defined in “the Explanatory Announcement No.1 oninformation disclosure for Companies Offering their Securities to the Public -Non-recurring Profits and Losses” and itsnon-r ecur rin g pro fit a nd lo ss i te ms as ill ustr ate d i n “the E xp lanat or y Anno unce me nt No .1 o n info r mation d isclosure forCompanies Offering their Securities to the Public-Non-recurring Pr ofits and Losses” which have been de fined asrecurring profits and losses, it is necessary to explain the reason.□ Applicable √ Not applicableNone of Non-recurring profit and loss items recognized as recurring profit and loss items as defined by “theExplanatory Announcement No.1 on information disclosure for Companies O ffering their Securities to thePublic-Non-recurring Profits 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
Total number of commonshareholders at the end of the
reporting period
59,625
Total number of common shareholders at the end of the | The total number of preferred shareholders whose voting rights has been restored at end of the |
reporting period (if any
) |
Shareholding by T op 10 shareholdersName of theshareholder
Nature ofshareholder
Proportion
of shares
held
Qua ntity of
shares
Amount of
held
Number of share pledged/frozen
State of share QuantityBenxi Steel &Iron (Group)Co., Ltd.
State-owned legalperson
60.78%
restricted shares | ||
2,355,409,263
Pledged 1,652,095,133
Frozen 45,000,000
LiaoningProvincial
State-owned legalperson
4.77%
184,842,883
184,842,883
TransportationInvestmentGroup Co., Ltd.
CCB Principa lAssetManagement –ICBC – CRTrust – CRTrust · XingSheng No. 5
Collective Fu nd |
Trust Plan
Others 4.77%
184,842,883
184,842,883
Bei Xin RuiFeng Fund –ChinaMerchantsBank – Bei XinRui Feng FundFeng Qing No.229 Ass etManagementPlan
Others4.77%
184,842,883
184,842,883
Chin a Li feAMP Fund–ICBC – ChinaLife AMP –Hua Xin TrustTargetedAdditional
No. 10 AssetManagementPlan
Others 4.77%
Shares Issuance |
184,842,883
184,842,883
VANGUARDEMERGINGMARKETSSTOCKINDEX FUND
Overseas legalperson
0.21%
8,157,311
Chen Jinhong
Domestic naturalperson
0.18%
6,880,675
Chen Guohua
Domestic naturalperson
0.14%
5,432,514
VANGUARDTOTALINTERNATIONAL STOCKINDEX FUND
person
0.14%
Overseas legal |
5,415,341
Lyu ruijun
Domestic natural |
person
0.13%
5,218,200
Shareholding of top 10 shareholders of unrestricted sharesName of the shareholder
Number of non-
at the period-end
Category of shares
Category of
shares
QuantityBenxi Steel & Iron (Group) Co.,Ltd.
2,355,409,263
restricted common shares held | |
Common sha res |
in RMB
2,355,409,263
VANGUARD EMERGINGMARKETS STOCK INDEXFUND
8,157,311
For eign s har esplaced indomesticexchange
8,157,311
Chen Jinhong 6,880,675
Commo n share s |
in RMB
6,880,675
Chen Guohua 5,432,514
Commo n share s |
in RMB
5,432,514
VANGUARD TOTALINTERNATIONAL STOCKINDEX FUND
5,415,341
For eign s har esplaced indomesticexchange
5,415,341
Lvu Ruijun 5,218,200
For eign s har esplaced indomesticexchange
5,218,200
Agricultural bank of China - ChinaSecurities 500 Trading Open IndexSecurities Investment Fund
3,923,310
Commo n share s |
in RMB
3,923,310
Xu Hekun 3,738,800
For eign s har esplaced indomesticexchange
3,738,800
Yu Xiaofan 3,402,707
For eign s har esplaced indomesticexchange
3,402,707
Haitong International SecuritiesCompany Limited -Account Client
3,211,109
For eign s har esplaced indomesticexchange
3,211,109
Related-parties o r acting-in-
parties among the above-
mentioned |
shareholders
action-in-concert parties among the top 10 un-restricted shareholders.
It is unknown to the Company whether there is any related connection or | |
Shareholders among the top 10 participating in securities margin |
trading (if any)
shares.
Whether top ten common shareholders or top ten common shareholders with unrestricted shares carried out anybuy-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-backagreement dealing in the reporting period. .2. Number of tot al prefe rred shareholders and preferr e d share s hold by Top 10 preferred shareholders□ Applicable √ Not applicable
III Important Events
Ⅰ. 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
ReasonsOther receivable 33%
Increase / | |
Due to the increase of the ending balance of accounts |
receivable
Tax payable -90%
Due to the decrease of VAT payable at the end of this
periodLong-term payable 211%
Due to the increase of equipment leasing at the end of
this periodSpecial reserv es 1042%
cost
? 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 2018
2. Statement of comprehensive income
Due to the decrease of payment of safety productionIncrease /
Decrease
Reasons
Taxes and surcharges -42% Due to the decrease of VAT payable and surchargesResearch and development expenses 171%
Increase /Due to the increase of Research and development
expensesFinancial expenses -131% Due to the increase of net exchange gainsOther income 222%
Due to the increase of Research and developmentDue to the increase of deferred income of government
subsidiesInvestment income -100% Due to the decrease of Finance productsNon-operating income 94% Due to the increase of fixed assets scrapping gainsNon-operating expenses 100% Due to the increase of disposal loss on fixed assetsIncome tax expenses 93% Due to the increase of deferred income tax expensesProfit or loss of non-controllingshareholders
-185%
Due to t
Due to the increase of deferred income of governmenthe decrease in profit of the holding
subsidiaries3. Statement of cash flows
he decrease in profit of the holding | |
Increase / |
Decrease
ReasonsTax rebate received 80% Due to the increase of tax refund in the period.
Cash paid for goods and services -76%
Due to the decrease of cash paid for
services during the periodCash paid for all types of taxes 75%
goods and |
Due to the increase of VAT and other taxes paid |
during the period
operating activities
-71%
Due to the decrease of cash paid for
Net cash flows generated from | goods and |
services in the period
assets, intangible assets a
nd other |
long-term assets
-42%
Due to the decrease of payment of acquisition of fixed
assets, intang ibl e asse ts in the periodCash paid for debt repayment -40% Due to the decrease of repayment of debt
II. P rogress and influence of significant events, as well as the analysis and explanation on
solutions
□ Applicable √ Not applicableProgress in the implementation of share repurchase□ Applicable √ Not applicableProgress in the implementation of the reduction of shareholding shares by means of centralized bidding□ Applicable √ Not applicable
III. T he Under-Fulfillment Commitments by the End of the Period Made by Actual
Controller, Acquirer, Director, Supervisor, Senior Management Personnel and otherRelated Parti es.
□ Applicable √ Not applicableThere was no under-fulfillment commitment b y the end of the period made by actual controller, acquirer, director,supervisor, senior management personnel and other related parties.
IV. Forecast of operating results for January to June of 2019
Warning of possible loss or considerable change of the accumulated net profit made during the period-start until the end of the nextreporting period according to predictions as well as any explanations for these reasons:
□ Applicable √ Not applicable
V. Investment in Securities
□ Applicable √ Not applicableThere is no securities investments in the reporting period.
VI. Investment in Derivatives
□ Applicable √ Not applicableThere is no investment in derivatives in the reporting period.
VII. R egistration form of Activities such as Research, Communication, Interview in t his
Reporting Period
□ Applicable √ Not applicableThere is no researches, visits and interviews received in the reporting period.
VIII. Violation of Regulations in Provision of External Guaranty
□ Applicable √ Not applicableThere is no violation of regulations in provision of external guaranty during the reporting period.
IX. I llustrations of Non-Operating Occupation of Funds by the Controlling Shareholder and
Related Parti es
□ Applicable √ Not applicableThere is no non-operating occupation of funds by the controlling shareholder and related parties.
Ⅳ Financial State ment
Ⅰ. Financial Statement
1. CONSOLIDATED STATEMENT OF FINANCIAL POSITION
Prepared by: Bengang Steel Plates Co., Ltd.
31 March 2019
Unit: RMBItem Ending balance Beginning balanceCurrent assetCash at bank and on hand 17,313,051,825.69
16,567,471,755.77
Settlement pro visions
Capital lent
Financial assets h e ld for trading
Financial assets at fair value through |
profit or loss
Derivative financial assets
Notes receivable and Accounts receivable
4,204,362,257.56
4,219,628,324.83
Including: Notes rec e ivable 3,815,821,668.89
3,580,145,843.38
Accounts receivable 598,540,588.67
639,482,481.45
Prepayments 1,321,725,727.72
1,321,537,514.78
Premium receivable
Reinsurance accounts receivable
Receivable deposit for reinsurance |
contract
Other receivables 269,260,617.08
202,763,964.98
Including:Interest receivable11,608,705.43
11,608,705.43
Dividend receivable
Redemptory financial assets for sale
Inventories 10,932,086,921.62
10,677,747,112.40
Contract assets
Asset s he l d for sale
Non-current assets due within one year
Other current assets 230,526,813.08
292,119,771.13
Total current assets34,271,014,162.75
33,281,268,443.89
Non-current assetsLoan and advances issued
Debt invest men ts
Available-for-sale financial assets
1,041,824,829.00
Other debt inve stm e nts
Held-to-maturity investment
Long-term receivables
Long-term equity investments 2,284,192.80
2,455,681.55
Other equity investments 1,041,824,829.00
Other non-current financial assets
Investment property
Fixed assets 23,359,988,838.87
23,924,504,539.97
Construction in progress 866,938,432.50
836,594,457.82
Productive biological assets
Oil and gas assets
Right-of-u se assets
Intangible as sets 276,425,551.44
278,062,441.04
Devel opment expenditure
Goodwill
Long-term deferred expenses
Deferred tax assets 178,559,260.94
191,452,547.21
Other non-current assets 68,303,165.35
76,341,975.35
Total non-current assets25,794,324,270.90
26,351,236,471.94
Total assets60,065,338,433.65
59,632,504,915.83
Current Liabil itie s
Short-term loans 11,956,365,000.00
11,938,490,375.85
Loan from central bank
Loan fro m other finan c ial institutions
Financial liability held for trading
Financial liabilities at fair value through |
profit or loss
Derivative finan c ia l lia bilities
Notes payable and Accounts payable 15,802,225,068.25
15,535,234,825.67
Advance from customers 3,800,130,116.73
3,331,854,098.42
Financial assets sold for repurchase
Absorbed deposit and interbank deposit
Receiving from vicariously traded |
securities
Receiving from vicariously sold |
securities
Employee benefits payable 44,879,756.74
51,466,231.72
Current tax liabilities 50,776,551.90
515,752,369.68
Other payables 836,164,307.83
862,511,178.96
Including:Interest payable9,658,681.99
9,658,681.99
Dividend payable
Handling charges and commission |
payable
Reinsurance accounts payable
Contract liability
Liabilities held for sale
Non-
year
302,955,576.32
current liabilities due within one |
350,965,576.32
Other current lia bilities
Total current liabilities32,793,496,377.77
32,586,274,656.62
Non-current liabilitiesStandard insurance contract provision
Long-term loans 7,022,610,594.33
7,083,640,094.16
Bonds payable
Including: Preferred stock
Perpetual bond
Lease liabilities
Long-term payables 42,530,820.96
13,686,705.92
Long-term employee benefits payable
Estimated liabilities
Deferred income 268,677,502.97
289,499,002.97
Deferred tax liabilities
Other non-current liabilities
Total non-current liabilities7,333,818,918.26
7,386,825,803.05
Total liabilities40,127,315,296.03
39,973,100,459.67
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 7,813,866.87
683,937.71
Surplus reserves 961,105,529.85
961,105,529.85
General risk reserve
Undistrib uted profits 2,217,493,587.89
1,945,887,269.82
Total equity attributable to equity holders |
of the parent company
19,404,994,363.90
19,126,258,116.67
Non-controllin g in te r e sts 533,028,773.72
533,146,339.49
Total shareholder's equity19,938,023,137.62
19,659,404,456.16
Total of liabilities and owners’ equity60,065,338,433.65
59,632,504,915.83
Legal Representative: Gao Lie Chief Financial Officer: Shen Qiang Chief Accountant: Zhao Zhonghua2. STATEMENT OF FINANCIAL POSITION
Unit: RMBItems Ending balance Beginning balanceCurrent assetCash at bank and on hand 16,349,468,551.01
15,536,305,375.00
Financial assets h e ld for trading
Financial assets at fair value through |
profit or loss
Derivative financial assets
Note receivable account receivable 3,912,313,044.17
3,765,573,658.16
Including: Notes receivable 3,508,626,142.68
3,356,020,598.89
Account receivable 403,686,901.49
409,553,059.27
Prepayments 1,300,690,997.88
1,309,194,738.97
Other receivables 221,616,301.70
235,037,391.46
Including: Interest receivables 9,815,280.04
9,815,280.04
Dividend receivables
Inventories 9,217,108,051.08
8,681,362,081.72
Contract assets
Asset s he l d for sale
Non-current assets due within one year
Other current assets 191,417,104.59
193,989,096.20
Total current assets31,192,614,050.43
29,721,462,341.51
Non-current assetsDeb t investment
Available-for-sale financial assets
1,041,624,829.00
Other debt inve stm e nts
Held-to-maturity financial assets
Long-term receivables
Long-term equity investments 2,016,081,902.16
2,016,281,902.16
Other equity investments 1,041,824,829.00
Other non-current financial assets
Investment properties
Fixed assets 21,555,880,298.85
22,035,187,328.57
Construction in progress 853,336,815.31
825,553,510.15
Productive biological assets
Oil and gas assets
Right-of-u se assets
Intangible as sets 147,949,643.64
148,776,177.96
Devel opment expenditure
Goodwill
Long-term deferred expense
Deferred tax assets 83,326,716.73
96,220,003.00
Other non-current assets 68,303,165.35
76,341,975.35
Total non-current assets25,766,703,371.04
26,239,985,726.19
Total assets56,959,317,421.47
55,961,448,067.70
Current liabilities
Short-term loans 10,656,365,000.00
10,624,270,375.85
Financial liability held for trading
through profit or loss
Financial liabilities at fair value |
Derivative finan c ia l lia bilities
Notes payable and Account payable 16,175,086,668.53
15,154,564,853.70
Advance from customers 3,486,213,353.66
3,189,143,565.45
Contract liability
Employee benefits payable 44,493,216.70
49,378,095.47
Current tax liabilities 8,562,680.17
507,003,883.57
Other payables 524,656,369.51
538,051,513.13
Including:Interest payables7,341,833.33
7,341,833.33
Dividend payables
Liabilities held for sale
Non-
year
302,955,576.32
current liabilities due within one |
350,965,576.32
Other current lia bilities
Total current liability31,198,332,864.89
30,413,377,863.49
Non-current liabilityLong term loans 7,022,610,594.33
7,083,640,094.16
Bonds payable
Including: Preferred stock
Perpetual bond
Lease liabilities
Long-term payables 42,530,820.96
13,686,705.92
Long-term employee benefits payables
Estimated liabilities
Deferred income 268,677,502.97
289,499,002.97
Deferred tax liabilities
Other non-current liabilities
Total non-current liabilities7,333,818,918.26
7,386,825,803.05
Total liabilities38,532,151,783.15
37,800,203,666.54
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: T reasury shares
Other comprehensive income
Special reserves 6,256,623.95
525,218.48
Surplus reserves 961,105,529.85
961,105,529.85
Undistrib uted Profits 1,661,373,787.35
1,401,183,955.66
Total shareholder's equity18,427,165,638.32
18,161,244,401.16
Total liabilities and shareholder’s |
equity
56,959,317,421.47
55,961,448,067.70
3. CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
Unit: RMB
Item Jan.-Mar. 2019 Jan.-Mar. 20181. Total operating income11,761,190,575.63
11,641,518,226.15
Including: Operating income 11,761,190,575.63
11,641,518,226.15
Interest income
Premium earned
charges and commission
Income from handling |
2. Total operating cost11,490,405,098.16
11,292,484,306.53
Including: Operating cost 11,082,217,546.55
10,774,961,797.37
Interest expense
charges and commission
Expenditure for handling |
Sur render value
compensation
Net expenditure for |
insurance contract appropriated
Net provision for |
policy
Bonus payment for |
Reinsurance premium
Tax and surcharges 54,057,558.75
93,231,022.33
expenses
312,825,124.15
Selling and distribution |
270,705,255.98
administrative expenses
229,520,730.11
General and |
235,383,241.43
Research and |
development expenses
2,797,993.86
1,032,058.92
Financial expenses -191,013,855.26
-82,829,069.50
expense
293,019,846.37
Including: Interest |
276,791,535.46
Interest income
67,726,988.83
37,395,303.33
Asset impairment loss
Expeced credit loss
Add: Other income 20,821,500.00
6,463,438.70
Income on investment(“-” for loss)
3,493,150.68
Including: Income from associates and joint |
ventures
Exchange gains
income (“-” for loss)
Net exposure hedging |
of fair value (“-” for loss)
Gains from the change |
Assets disposal gain s(“-
for loss)
2,097,867.55
” |
3. Operational profit(“-” for loss)293,704,845.02
358,990,509.00
Add: Non-operating income 3,075,607.08
1,585,742.03
Less: Non-operating expenses 7,215,029.01
4. Total profit (“-” for loss)289,565,423.09
360,576,251.03
Less: Income tax expenses 18,343,089.25
9,494,399.80
5. Net profit(“-” f or loss)271,222,333.84
351,081,851.23
1.Classification b y co ntinuing operating
1) Net p
rofit from continuing |
operation
271,222,333.84
351,081,851.23
operation
2) Net profit from discontinued |
2.Classification b y ownership
owners of parent company
271,606,318.07
1) Net profit attributable to the |
350,629,492.24
2) Net profit attributable to |
-383,984.23
452,358.99
non-co nt ro ll i ng sha reholders6.Other comprehensive income
after tax
Other comprehensive income attributable to owners of the parent company | ||
1.Other comprehensive income items that |
will not be recla ssifie d into gains/losses
(1) Re-measurement of definedbene fi t plans of changes in net debt or netassets
reclassified into profit or loss
(2) Other comprehensive income under the equity metho d investee cannot be |
equity investments
(3) Changes in the fair value of 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 c lassified into pro fit |
(2) Changes in the
debt investments
fair value of other |
(3) Fair value gain on available-for-salefinancial assets
comprehensive income
(4) Changes in the fair value of financial assets at fair value thr ough other |
reclassfication of held-to-
maturity |
investments to assets held for sale
investments
(6) Provision for credit loss of other debt |
(7) Cash flow hedge reserve
financial statem ents
(8) Translation differences in currency |
(9) Others
non-controlling shareholders after tax
Other comprehensive income attributable to |
7. Total comprehensive income271,222,333.84
351,081,851.23
company
271,606,318.07
Total comprehensive income attributable to the owner of the parent |
350,629,492.24
Total comprehensive income |
attributable to non-c ontrolling shareholders
-383,984.23
452,358.99
8. Earnings per share
1) Basic earnings per share 0.07
0.09
2) Diluted earnings per share 0.07
0.09
The current business combination under common control, the net profits of the combined party before achieved: Yuan,net profit of previous period of the combined party realized: Yuan.Legal Representative: Gao Lie Chief Financial Officer: S hen Qiang Chief Accountant: Zhao Zhonghua4. STATEMENT OF COMPREHENSIVE INCOME
Unit: RMBItem Jan.-Mar. 2019 Jan.-Mar. 20181. Total operating income11,318,044,807.71
11,808,077,059.64
Less: Operating cost 10,828,824,566.71
11,117,984,591.44
Tax and surcharges 40,172,247.54
86,278,192.35
Selling and distribution expen ses 178,902,194.54
145,350,744.25
General and administrative expenses
215,696,958.84
223,684,498.48
Research and development expenses 2,797,993.86
1,032,058.92
Financial expenses -204,007,003.82
-97,141,152.03
Including: Interest expense 278,494,138.86
260,781,725.96
Interest income 66,189,925.11
35,694,260.20
Asset impairment loss
Expeced credit loss
Add: Other income 20,821,500.00
6,463,438.70
Income on investment(“-” for loss)
3,493,150.68
Including: Income from associates |
and joint ventures
income (“-” for loss)
Net exposure hedging |
change of fair value (“-” for loss)
Gains from |
Assets disposal gains(“-
for loss)
2,144,869.80
” |
2. Operational profit(“-” for loss)278,624,219.84
340,844,715.61
Add: Non-operating income 3,021,409.27
1,454,913.42
Less: Non-operating expenses 7,215,029.01
3. Total profit (“-” for loss)274,430,600.10
342,299,629.03
Less: Income tax expenses 14,240,768.41
4,625,935.23
4. Net profit(“-” f or loss)260,189,831.69
337,673,693.80
1.Net profit from continuing operation 260,189,831.69
337,673,693.80
2.Net profit from discontinued operation
5.Other comprehensive income
will not be recla ssifie d into gains/losses
1.O ther compr ehensive income ite ms that |
(1) Re-
assets
measurement of defined benefit plans of changes in net debt o r net |
reclassified into profit or loss
(2) Other comprehensive income under the equity method investee cannot be |
equity investments
(3) Changes in the fair value of other |
credit risk
(4) Changes in the fair value of Corporate |
(5) Others
be reclassified into profit or loss.
2.Other comprehensive income that will |
or loss afterwards under equity method
(1) Share of other comprehensive income of investee to be classified i nto profit |
investments
(2) Cha nge s in the fair value of other debt |
(3) Fair value gain on available-for-salefinancial assets
comprehensive income
(4) Changes in the fair value of financial assets at fair value through other |
reclassfication of held-to-
maturi ty invest ments |
to asse t s held for sale
(6) Provision for credit loss of other
investments
debt |
(7) Cash flow hedge reserve
financial statem ents
(8) Translation differences in currency |
(9) Others
6. Total comprehensive income260,189,831.69
337,673,693.80
7. Earnings per share
1)Basic earnings per share
2)Diluted earnings per share
5. CONS OLIDATED STATEMENT OF CASH FLOWS
Unit: RMBItem Jan.-Mar. 2019 Jan.-Mar. 20181.Cash flow from operating activities
rendering of services
7,419,619,557.25
Cash received from sale of goods or |
7,731,797,062.14
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 Borrowing |
funds
Net increase of fund for buy-back business
traded securities
Net increase of receivings from vicariously |
Tax rebate received 129,603,306.84
72,002,572.86
Other cash received relating to operating |
activities
52,630,739.69
60,576,344.20
Subtotal of cash inflows from operating |
activities
7,601,853,603.78
7,864,375,979.20
Cash paid for goods and services 3,796,837,688.74
15,907,402,800.35
Net increase of customer's loan and |
advances
Net increase of deposit in central bank and |
interbank deposit
Net increase offinancial assets held for trading
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 466,895,154.36
481,878,788.59
Cash paid for all types of taxes 564,138,089.50
322,300,081.76
Other cash paid relating to operating |
activities
21,425,475.71
24,302,177.31
Subtotal of cash outflows from operating |
activities
4,849,296,408.31
16,735,883,848.01
Net cash flows from operating activities2,752,557,195.47
-8,871,507,868.81
2. Cash flows from investing activities
Cash received from return on investments
500,000,000.00
Cash received from distribution of |
dividends or profit
3,493,150.68
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 inflows from investing |
activities
503,493,150.68
intangible assets and other long-term assets
213,446,363.20
367,847,024.60
Cash paid for a c quisition 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
213,446,363.20
367,847,024.60
Net cash flows from investing activities-213,446,363.20
135,646,126.08
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 3,762,429,000.00
6,576,220,000.00
Cash received from bond issuance
Other proceeds relating to financing |
activities
Subtotal of cash inflows from financing |
activities
3,762,429,000.00
10,542,019,988.19
Cash repayments of borrowings 3,853,593,875.68
6,452,965,440.62
Cash payments for distribution of |
dividends, profit or interest expenses
293,019,846.37
292,806,531.43
Including: Cash paid to non-
subsidiaries
controlling shareholders as dividend and profit by | ||
Other cash payments relating to financing |
activities
Subtota l of cash outflow s from financing |
activities
4,146,613,722.05
6,745,771,972.05
Net cash flows from financing activities-384,184,722.05
3,796,248,016.14
4. Effect of foreign exchange rate |
changes on cash and cash equivalents
-25,741,813.31
-6,488,117.13
5. Net increase in cash and cash |
equivalents
2,129,184,296.91
-4,946,101,843.72
Add: Cash and cash equivalents at the |
beginning of the period
11,752,548,621.97
12,317,576,778.93
ending of the period
13,881,732,918.88
6. Cash and cash equivalents at the |
7,371,474,935.21
.STATEMENT OF CASH FLOWS
Unit: RMBItem Jan.-Mar. 2019 Jan.-Mar. 20181. Cash flow from operating activities
rendering of services
7,083,398,928.22
Cash received from sale of goods or |
7,332,137,869.58
Tax rebate received 102,717,420.63
135,442.49
Other cash received relating to operating |
activities
40,251,068.14
42,405,069.68
Subtotal of cash inflows from operating |
activities
7,226,367,416.99
7,374,678,381.75
Cash paid for goods and services 3,505,322,597.12
15,657,723,198.78
Cash paid to and on behalf of employees 441,580,806.88
456,027,325.34
Cash paid for all types of taxes 540,256,412.01
289,677,174.70
Other cash paid relating to operating |
activities
18,206,333.60
20,458,086.55
Subtotal of cash outflows from operating |
activities
4,505,366,149.61
16,423,885,785.37
Net cash flows from operating activities2,721,001,267.38
-9,049,207,403.62
2. Cash flows from investing activities
Cash received from return on investments
500,000,000.00
Cash received from distribution of |
dividends or profit
3,493,150.68
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 received relating to investing |
activities
Subtotal of cash inflows from investing |
activities
503,493,150.68
Cash paid for acquisition of fixed assets, |
intangible assets and other long-term assets
211,879,503.05
366,691,846.42
Cash paid for a c quisition of investments
173,500,000.00
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 a ctivities
211,879,503.05
540,191,846.42
Net cash flows from investing activities-211,879,503.05
-36,698,695.74
3. Cash flows from financing activities
Proceeds from investment
3,965,799,988.19
Cash received from borrowings 3,522,429,000.00
6,053,220,000.00
Cash received from bond issuance
Other cash received relating to financing |
activities
Subtotal of cash inflows from financing |
activities
3,522,429,000.00
10,019,019,988.19
Cash repayments of borrowings 3,599,373,875.68
6,012,965,440.62
Cash payments for
dividends, pr of it or interest
278,494,138.86
distribution of |
279,903,047.33
Other cash payments relating to financing |
activities
Subtota l of cash outflow s from financing |
activities
3,877,868,014.54
6,292,868,487.95
Net cash flows from financing activities-355,439,014.54
3,726,151,500.24
4. Effect of foreign exchange rate |
changes on cash and cash equivalents
-25,737,308.54
-6,484,800.97
5. Net increase in cash and cash |
equivalents
2,127,945,441.25
-5,366,239,400.09
Add: Cash and cash equivalents at the |
beginning of the period
10,807,824,843.20
12,152,285,550.21
6. Ending balance of cash and cash |
equivalents
12,935,770,284.45
6,786,046,150.12
Ⅱ. Adjustment of Financial Statement
1. Adjustment to the financial statement towards beginning balance due to the first time implementation of newfinancial instrument standards, new revenue standards, and new leasing standards√ Applicable □ Not applicable
CONSOLIDATED STATEMENT OF FINANCIAL POSITION
Unit: RMBItem 31 December 2018 1 January 2019 Adjustment amountCurrent assetsCash at bank and on hand 16,567,471,755.77
16,567,471,755.77
Note receivable and accountreceivable
4,219,628,324.83
4,219,628,324.83
Including: Note receivable 3,580,145,843.38
3,580,145,843.38
Account receivable 639,482,481.45
639,482,481.45
Prepayments 1,321,537,514.78
1,321,537,514.78
Other receivable 202,763,964.98
202,763,964.98
Including: interest receivable 11,608,705.43
11,608,705.43
Inventories 10,677,747,112.40
10,677,747,112.40
Other current assets 292,119,771.13
292,119,771.13
Total current assets 33,281,268,443.89
33,281,268,443.89
Non-current assetsAvailable-for-sale financial assets 1,041,824,829.00
Not app lic a ble -1,041,824,829.00
Long-term equity investments 2,455,681.55
2,455,681.55
Other equity investments Not applicable 1,041,824,829.00
1,041,824,829.00
Fixed assets 23,924,504,539.97
23,924,504,539.97
Construction in progress 836,594,457.82
836,594,457.82
Intangible as sets 278,062,441.04
278,062,441.04
Deferred tax assets 191,452,547.21
191,452,547.21
Other non-current assets 76,341,975.35
76,341,975.35
Total non-current assets
26,351,236,471.94
26,351,236,471.94
Total assets
59,632,504,915.83
59,632,504,915.83
Current Liabil itie s
Short-term loans11,938,490,375.85
11,938,490,375.85
Notes payable and Accountspayable
15,535,234,825.67
15,535,234,825.67
Advance from customers 3,331,854,098.42
3,331,854,098.42
Employee benefits payable 51,466,231.72
51,466,231.72
Current tax liabilities 515,752,369.68
515,752,369.68
Other payables 862,511,178.96
862,511,178.96
Including: interest payable 9,658,681.99
9,658,681.99
Non-current liabilities due withinone year
350,965,576.32
350,965,576.32
Total current liabilities 32,586,274,656.62
32,586,274,656.62
Non-current liabilities
Long-term loans 7,083,640,094.16
7,083,640,094.16
Long-term payables 13,686,705.92
13,686,705.92
Deferred income 289,499,002.97
289,499,002.97
Total non-current liabilities 7,386,825,803.05
7,386,825,803.05
Total liabilities 39,973,100,459.67
39,973,100,459.67
Shareholders' equity:
Share capital3,875,371,532.00
3,875,371,532.00
Capital reserve 12,343,209,847.29
12,343,209,847.29
Other equity instruments
683,937.71
Surplus reserves 961,105,529.85
961,105,529.85
Undistrib uted profits 1,945,887,269.82
1,945,887,269.82
Total equity attributable to equityholders of the parent company
19,126,258,116.67
19,126,258,116.67
Non-controllin g in te r e sts 533,146,339.49
533,146,339.49
Total shareholder's equity 19,659,404,456.16
19,659,404,456.16
Total of liabilities and owners’ |
equity
59,632,504,915.83
59,632,504,915.83
Illustration of adjustmentSTATEMENT OF FINANCIAL POSITION
RMBItem 31 December 2018 1 January 2019 Adjustment amountCurrent assetsCash at bank and on hand 15,536,305,375.00
15,536,305,375.00
Note receivable and accountreceivable
3,765,573,658.16
3,765,573,658.16
Including: Note receivable 3,356,020,598.89
3,356,020,598.89
Account receivable 409,553,059.27
409,553,059.27
Prepayments 1,309,194,738.97
1,309,194,738.97
Other receivable 235,037,391.46
235,037,391.46
Including: interest receivable 9,815,280.04
9,815,280.04
Inventories 8,681,362,081.72
8,681,362,081.72
Other current assets 193,989,096.20
193,989,096.20
Total current assets29,721,462,341.51
29,721,462,341.51
Non-current assetsAvailable-for-sale financial assets 1,041,624,829.00
Not app lic a ble -1,041,624,829.00
Long-term equity investments 2,016,281,902.16
2,016,281,902.16
Other equity investments Not applicable 1,041,624,829.00
1,041,624,829.00
Fixed assets 22,035,187,328.57
22,035,187,328.57
Construction in progress 825,553,510.15
825,553,510.15
Intangible as sets 148,776,177.96
148,776,177.96
Deferred tax assets 96,220,003.00
96,220,003.00
Other non-current assets 76,341,975.35
76,341,975.35
Total non-current assets26,239,985,726.19
26,239,985,726.19
Total assets55,961,448,067.70
55,961,448,067.70
Current liabilitiesShort-term loans 10,624,270,375.85
10,624,270,375.85
Notes payable and Accountspayable
15,154,564,853.70
15,154,564,853.70
Advance from customers3,189,143,565.45
3,189,143,565.45
Employee benefits payable49,378,095.47
49,378,095.47
Current tax liabilities507,003,883.57
507,003,883.57
Other payables538,051,513.13
538,051,513.13
Including: interest payable 7,341,833.33
7,341,833.33
Non-current liabilities due withinone year
350,965,576.32
350,965,576.32
Total current liabilities 30,413,377,863.49
30,413,377,863.49
Non-current liabilities
Long term loans7,083,640,094.16
7,083,640,094.16
Long-term payables 13,686,705.92
13,686,705.92
Deferred income 289,499,002.97
289,499,002.97
Total non-current liabilities7,386,825,803.05
7,386,825,803.05
Total liabilities37,800,203,666.54
37,800,203,666.54
Shareholder’s equity:
Share capital 3,875,371,532.00
3,875,371,532.00
Capital reserves 11,923,058,165.17
11,923,058,165.17
Other comprehensive income
525,218.48
Surplus reserves 961,105,529.85
961,105,529.85
Undistrib uted Profits 1,401,183,955.66
1,401,183,955.66
Total shareholder's equity18,161,244,401.16
18,161,244,401.16
Total liabilities andshareholder’s equity
55,961,448,067.70
55,961,448,067.70
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
□ Applicable √ Not applicable
Ⅲ. Audit report
Whether the firs t qu a rter report is audited□ Yes √ NoThe first quarter report is not audited.