Bengang Steel Plates Co., Ltd.
First Quarter Report 2021
April 2021
Ⅰ. Important NoticeThe Board of Directors, the Supervisory Committee and the Directors, members of theSupervisory Committee and senior management of the Company guarantee that thereare 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 thisreport was examined.
Gao Lie, Chairman of the Company, Lin Dong, the principal in charge of theaccounting, and Cong Yajuan, Chief of Accounting Affairs, make the pledge for theauthenticity, 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. 2021 Jan.-Mar. 2020 Changes (+/-)Operating income（RMB）15,252,265,770.99
11,728,574,704.88
30.04%
Net profit attributable to theshareholders of the listed company（RMB）
686,599,759.65
177,998,575.36
285.73%
Net profit after deducting of non-recurring gain/loss attributable to theshareholders of listed company（RMB）
678,208,256.33
168,656,828.67
302.12%
Net Cash flows generated by businessoperation（RMB）
-966,470,265.23
684,846,620.22
-241.12%
Basic earnings per share (RMB/Share) 0.18
0.05
260.00%
Diluted earnings per share(RMB/Share)
0.18
0.05
260.00%
Weighted average net assets yield (%) 3.21%
0.91%
2.30%
31 Mar. 2021 31 Dec 2020 Changes (+/-)Gross assets（RMB）66,446,670,324.00
65,007,470,749.20
2.21%
Net assets attributable to shareholdersof the listed company（RMB）
21,713,721,738.01
21,018,296,389.10
3.31%
Items and amount of non-recurring profit and loss
√ Applicable □ Not applicable
Unit: RMB
Items Jan.-Mar. 2021 NotesProfit or loss from disposal of non-
(including the write-
| off part for which assets impairment |
provision is made)
-6,031,886.26
| Details of government subsidies recorded into current |
profits and loss（
related to the company’
| s normal business operation, meeting the regulation of national policy and enjoyed constantly in certain quota or quantity according to a |
16,562,376.50
certain standard）Other non-
above items
707,688.34
| operating revenue and expenditure other than |
Less: Impact of income tax 2,809,544.65
Impact of minority interests (after tax) 37,130.61
Total 8,391,503.32
--
For the Company’s non-recurring profit and loss items as defined in “the Explanatory Announcement No.1 on informationdisclosure for Companies Offering their Securities to the Public-Non-recurring Profits and Losses” and its non-recurringprofit and loss items as illustrated in “the Explanatory Announcement No.1 on information disclosure for CompaniesOffering their Securities to the Public-Non-recurring Profits and Losses” which have been defined as recurring profitsand 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 ExplanatoryAnnouncement No.1 on information disclosure for Companies Offering their Securities to the Public-Non-recurringProfits 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
51,611
| Total number of common shareholders at the end of the |
The total number ofpreferred shareholdersvoting rights restored
(if any)
| at the end of the reporting period |
Shareholding by Top 10 shareholdersName of theshareholder
Nature ofshareholder
Proportion
of shares
held
Quantity of
shares
Amount of
held
Number of share pledged/frozen
State of share QuantityBenxi Steel &Iron (Group)Co., Ltd.
State-owned legalperson
62.17%
| restricted shares | ||
2,409,628,094
Pledged 1,109,545,000
Frozen 102,100,000
CCB PrincipalAssetManagement –ICBC – CRTrust – CR
Others
4.77%
184,842,883
Trust · XingSheng No. 5
Trust PlanBei Xin RuiFeng Fund –ChinaMerchantsBank – Bei XinRui Feng FundFeng Qing No.229 AssetManagementPlan
Others
4.77%
| Collective Fund | ||
184,842,883
China LifeAMP Fund–ICBC – ChinaLife AMP –Hua Xin TrustTargetedAdditionalShares IssuanceNo. 10 AssetManagementPlan
Others
4.77%
184,842,883
LiaoningProvincialTransportationInvestmentGroup Co., Ltd.
State-
person
4.33%
| owned legal |
167,765,783
CR YuantaFundManagement –HuataiSecurities – CRYuanta FundRunhongXingshengCollectiveAssetsManagementPlan
Others
0.34%
12,990,123
Fang Lei
0.28%
| Domestic natural |
10,885,300
personZhang Peng
person
0.21%
| Domestic natural |
8,287,900
VANGUARDEMERGINGMARKETSSTOCKINDEX
Overse
person
0.21%
| as legal |
8,157,311
Chen Jinhong
Domestic natural
person
0.19%
7,500,375
Shareholding of top 10 shareholders of unrestricted sharesName of the shareholder
Number of non-
at the period-end
Category of sharesCategory of
shares
QuantityBenxi Steel & Iron (Group) Co.,Ltd.
2,409,628,094
| restricted common shares held | |
| Common shares |
in RMB
2,409,628,094
CCB Principal Asset Management –
ICBC – CR Trust –
Sheng No. 5 Collective Fund TrustPlan
184,842,883
| CR Trust · Xing | Common shares |
in RMB
184,842,883
Bei Xin Rui Feng Fund – ChinaMerchants Bank – Bei Xin RuiFeng Fund Feng Qing No. 229Asset Management Plan
184,842,883
| Common shares |
in RMB
184,842,883
China Life AMP Fund– ICBC –China Life AMP – Hua Xin Trust
| Targeted Additional Shares Issuance |
No. 10 Asset Management Plan
184,842,883
| Common shares |
in RMB
184,842,883
Liaoning Provincial TransportationInvestment Group Co., Ltd.
167,765,783
| Common shares |
in RMB
167,765,783
CR Yuanta Fund Management –Huatai Securities –
| CR Yuanta Fund |
Runhong Xingsheng CollectiveAssets Management Plan
12,990,123
| Common shares |
in RMB
12,990,123
Fang Lei 10,885,300
| Common shares |
in RMB
10,885,300
Zhang Peng 8,287,900
| Common shares |
in RMB
8,287,900
VANGUARD EMERGINGMARKETS STOCK INDEX
8,157,311
Foreign sharesplaced in
8,157,311
FUNDdomesticexchangeChen Jinhong 7,500,375
| Common shares |
in RMB
7,500,375
Related-parties or acting-in-
| concert |
parties among the above-
shareholders
It is unknown to the Company whether there is any related connection or action-in-concert parties among the top 10 un-restricted shareholders.
Shareholders among the
| mentioned |
| top 10 participating in securities margin |
trading (if any)
Benxi Steel & Iron (Group) Co., Ltd. holds 2,170,628,094
through an ordinary securities account, and holds 239,000,000
| shares through the |
investor's credit securities account, therefore, it holds a total of 2,409,628,094
shares.CR Yuanta Fund Management – Huatai Securities –
| CR Yuanta Fund Runhong |
Xingsheng Collective Assets Management Plan holds 12,990,123
the investor's credit securities account.Fang Lei holds 10,885,300 shares through the investor's credit securities account.
Zhang Peng holds 8,287,900 shares through the investor's credit securities account.
Whether top ten common shareholders or top ten common shareholders with unrestricted shares carried out any buy-backagreement 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 total preferred shareholders and preferred shares 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 beginning of the year
1. Statement of Financial Position
Increase /Decrease
ReasonsOther current assets 52%Dueto the increase of purchase of financing products.Construction in progress 31% Due to the increase of construction in progress.Current tax liabilities 97%
Due to the increase of unpaid value-added tax at the
end of the period.Non-
one year
-79%
Due to the long-term loans converted into borrowings
due within one year.Long-term payables41%Due to the increase of lease payment.Special reserves2208%
Due to the increase in the unused amount of the safety
production cost in this period.
? 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 2020
current liabilities due within
2. Statement of comprehensive
income
| 2. Statement of comprehensive | Increase / |
Decrease
ReasonsOperating income 30%
D
comparable period.Tax and surcharges 101%
D
| ue to the increase of settlement compared to the |
| ue to the increase of value added tax during the |
current period.Income tax expenses15605%
Due to the increase of income tax paid during the
current period.
3. Statement of cash flows
Decrease
ReasonsTax rebate received178%
Due to the increase of export tax rebate during the
current period.Cash paid for goods and services62%
Due to the increase of cash paid for goods and services
during the periodCash paid for all types of taxes-33%
Due to the decrease of value added tax payment during
the period.
Cash paid for
long-term assets
88%
Due to the increase of cash paid for acquisition offixed assets, intangible assets and other long-termassetsCash received from borrowings-31%Due to the decrease of cash received from the loan
II. Progress and influence of significant events, as well as the analysis and explanation onsolutions
□ Applicable √ Not applicable
Progress in the implementation of share repurchase
□ Applicable √ Not applicable
Progress in the implementation of the reduction of shareholding shares by means of centralized bidding
□ Applicable √ Not applicable
III. The Under-Fulfillment Commitments by the End of the Period Made by Actual Controller,Acquirer, Director, Supervisor, Senior Management Personnel and other Related Parties.
□ Applicable √ Not applicable
There is no under-fulfillment commitment by the end of the period made by actual controller, acquirer, director, supervisor,senior management personnel and other related parties.
IV. Investment in Securities
1. Investment in Securities
□ Applicable √ Not applicable
There are no securities investments in the reporting period.
2. Investment in Derivatives
□ Applicable √ Not applicable
There is no investment in derivatives in the reporting period.
V. Progress of Investment Projects with Raised Funds
√ Applicable □ Not applicable
1. Funds raised by non-public offering of shares
As of the end of the reporting period, the company used a total of RMB 3,278.59 million to raise funds, and the unusedamount was RMB 684.38 million, of which the balance of supplementary working capital was RMB 660 million andthe balance of the account of raised funds was RMB 24.38 million.
2. Public issuance of convertible bonds to raise funds
As of the end of the reporting period, the company actually used the raised funds of RMB 2,463.52 million, the unused
amount of the company's raised funds was 4,299.95 million, of which the supplementary working capital balance was4,180 million, and the raised funds account balance was 119.95 million.VI. Forecast of Business Performance from Jan-Jun 2021
A warning and explanation of the reason for predicting that the cumulative net profit from the beginning of the year tothe end of the next reporting period may be a loss or a significant change compared with the same period of theprevious year
□ Applicable √ Not applicable
VII. Major Contracts for Daily Operations
□ Applicable √ Not applicable
VIII. Entrusted Financial Management
□ Applicable √ Not applicable
There is no entrusted financial management in the reporting period.IX. Violation of Regulations in Provision of External Guaranty
□ Applicable √ Not applicable
There is no violation of regulations in provision of external guaranty during the reporting period.X. Illustrations of Non-Operating Occupation of Funds by the Controlling Shareholder andRelated Parties
□ Applicable √ Not applicable
There is no non-operating occupation of funds by the controlling shareholder and related parties.XI. Registration form of Activities such as Research, Communication, Interview in this
Reporting Period
□ Applicable √ Not applicable
There is no researches, visits and interviews received in the reporting period.
Ⅳ Financial StatementⅠ. Financial Statement
1. CONSOLIDATED STATEMENT OF FINANCIAL POSITION
Prepared by: Bengang Steel Plates Co., Ltd.
31 March 2021
Unit: RMBItem Mar 31, 2021 Mar 31, 2020Current assetCash at bank and on hand 9,607,066,518.46
13,126,666,915.26
Settlement provisions
Capital lent
Financial assets held for trading
Derivative financial assets
Notes receivable
Accounts receivable 230,497,087.25
245,217,182.66
Accounts receivable financing 3,671,070,272.83
4,189,977,871.92
Prepayments 2,171,613,244.35
2,108,044,777.65
Premium receivable
Reinsurance accounts receivable
| Receivable deposit for reinsurance |
contract
Other receivables 140,438,311.17
142,101,351.27
Including：Interest receivable
Dividend receivable
Redemptory financial assets for sale
Inventories 10,030,853,051.80
9,040,065,342.65
Contract assets
Assets held for sale
Non-current assets due within one year
Other current assets 8,401,071,869.02
5,523,646,836.01
Total current assets 34,252,610,354.88
34,375,720,277.42
Non-current assets
Loan and advances issued
Debt investment
Other debt investments
Long-term receivables
Long-term equity investments 2,788,647.95
2,742,064.73
Other equity investments 1,042,024,829.00
1,042,024,829.00
Other non-current financial assets
Investment property
Fixed assets 25,741,811,447.00
26,284,567,956.44
Construction in progress 2,404,248,545.89
1,839,933,715.58
Productive biological assets
Oil and gas assets
Right-of-use assets 1,526,203,644.87
Intangible assets 263,290,809.84
264,932,652.54
Development expenditure
Goodwill
Long-term deferred expenses
Deferred tax assets 202,210,114.90
201,708,932.84
Other non-current assets 1,011,481,929.67
995,840,320.65
Total non-current assets 32,194,059,969.12
30,631,750,471.78
Total assets 66,446,670,324.00
65,007,470,749.20
Current Liabilities
Short-term loans 10,066,547,000.00
10,067,731,000.00
Loan from central bank
Loan from other financial institutions
Financial liability held for trading
Derivative financial liabilities
Notes payable 8,209,448,728.97
9,814,149,348.42
Accounts payable 4,924,702,174.04
5,914,228,256.82
Advance from customers
Contract liabilities 5,742,773,223.88
4,458,671,819.90
Financial assets sold for repurchase
Absorbed deposit and interbank deposit
| Receiving from vicariously traded |
securitiesReceiving from vicariously sold securities
Employee benefits payable 30,000,623.55
25,749,485.25
Current tax liabilities 109,067,499.02
55,302,080.96
Other payables 659,520,679.27
709,448,301.92
Including：Interest payable
Dividend payable
| Handling charges and commission |
payable
Reinsurance accounts payable
Liabilities held for sale
Non-current liabilities due within one year
273,845,934.19
1,308,030,361.43
Other current liabilities 746,560,519.10
579,627,336.58
Total current liabilities 30,762,466,382.02
32,932,937,991.28
Non-current liabilitiesStandard insurance contract provision
Long-term loans 4,507,016,155.89
3,502,934,427.65
Bonds payable 5,760,237,114.37
5,752,229,339.52
Including: Preferred stock
Perpetual bond
Lease liabilities 1,459,524,066.81
Long-term payables 1,565,647,536.69
1,114,232,362.74
Long-term employee benefits payable
Estimated liabilities
Deferred income 139,254,976.73
154,451,833.23
Deferred tax liabilities
Other non-current liabilities
Total non-current liabilities 13,431,679,850.49
10,523,847,963.14
Total liabilities 44,194,146,232.51
43,456,785,954.42
Shareholders’ equityShare capital 3,875,898,553.00
3,875,371,532.00
Other equity instruments 1,145,842,934.77
1,146,290,662.42
Including: Preferred stock
Perpetual bond
Capital reserve 12,345,322,779.09
12,343,209,847.29
Less: treasury shares
Other comprehensive income
Special reserves 6,933,776.25
300,412.14
Surplus reserves 961,105,529.85
961,105,529.85
General risk reserve
Undistributed profits 3,378,618,165.05
2,692,018,405.40
| Total equity attributable to equity holders |
of the parent company
21,713,721,738.01
21,018,296,389.10
Non-controlling interests 538,802,353.48
532,388,405.68
Total shareholder's equity 22,252,524,091.49
21,550,684,794.78
Total of liabilities and owners’ equity 66,446,670,324.00
65,007,470,749.20
Legal Representative: Gao Lie Chief Financial Officer: Lin Dong Chief Accountant: Cong Yajuan
2. STATEMENT OF FINANCIAL POSITION
Unit: RMBItems Mar 31, 2021 Mar 31, 2020Current assetCash at bank and on hand 8,699,983,948.15
11,808,618,300.87
Financial assets held for trading
Derivative financial assets
Notes receivable
Accounts receivable 252,514,276.65
289,865,462.20
Accounts receivable financing 3,468,358,869.69
4,143,431,412.08
Prepayments 2,189,467,531.08
2,117,204,935.75
Other receivables 225,617,247.75
228,180,190.02
Including: Interest receivables
Dividend receivables
Inventories 7,542,794,098.05
7,420,499,172.20
Contract assets
Assets held for sale
Non-current assets due within one year
Other current assets 8,255,070,265.21
5,437,282,088.94
Total current assets 30,633,806,236.58
31,445,081,562.06
Non-current assetsDebt investment
Other debt investments
Long-term receivables
Long-term equity investments 2,016,281,902.16
2,016,281,902.16
Other equity investments 1,041,624,829.00
1,041,624,829.00
Other non-current financial assets
Investment properties
Fixed assets 24,281,210,747.86
24,755,665,765.30
Construction in progress 2,360,656,651.69
1,798,639,941.58
Productive biological assets
Oil and gas assets
Right-of-use assets 1,526,203,644.87
Intangible assets 141,337,369.08
142,163,903.40
Development expenditure
Goodwill
Long-term deferred expense
Deferred tax assets 98,227,517.87
98,480,706.23
Other non-current assets 1,004,117,035.55
988,475,426.53
Total non-current assets 32,469,659,698.08
30,841,332,474.20
Total assets 63,103,465,934.66
62,286,414,036.26
Current liabilities
Short-term loans 9,146,547,000.00
9,107,731,000.00
Financial liabilities held for trading
Derivative financial liabilities
Notes payable 7,104,509,084.22
8,348,607,405.21
Accounts payable 5,007,719,335.88
6,280,468,684.34
Advance from customers
Contract liabilities 5,985,572,402.79
5,324,357,761.83
Employee benefits payable 28,917,395.58
23,981,010.53
Current tax liabilities 88,955,193.39
42,514,891.31
Other payables 337,705,358.21
368,374,954.61
Including：Interest payables
Dividend payables
Liabilities held for sale
Non-
year
273,845,934.19
| current liabilities due within one |
1,308,030,361.43
Other current liabilities 778,124,412.36
692,166,509.04
Total current liability 28,751,896,116.62
31,496,232,578.30
Non-current liabilityLong term loans 4,507,016,155.89
3,502,934,427.65
Bonds payable 5,760,237,114.37
5,752,229,339.52
Including: Preferred stock
Perpetual bond
Lease liabilities 1,459,524,066.81
Long-term payables 1,558,547,658.07
1,108,412,163.50
Long-term employee benefits payables
Estimated liabilities
Deferred income 139,254,976.73
154,451,833.23
Deferred tax liabilities
Other non-current liabilities
Total non-current liabilities 13,424,579,971.87
10,518,027,763.90
Total liabilities 42,176,476,088.49
42,014,260,342.20
Shareholder’s equity:
Share capital 3,875,898,553.00
3,875,371,532.00
Other equity instruments 1,145,842,934.77
1,146,290,662.42
Including: Preferred stock
Perpetual bond
Capital reserves 11,925,171,096.97
11,923,058,165.17
Less: Treasury shares
Other comprehensive income
Special reserves 5,702,059.36
120,972.62
Surplus reserves 961,105,529.85
961,105,529.85
Undistributed Profits 3,013,269,672.22
2,366,206,832.00
Total shareholder's equity 20,926,989,846.17
20,272,153,694.06
| Total liabilities and shareholder’s |
equity
63,103,465,934.66
62,286,414,036.26
3. CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
Unit: RMB
Item Jan.-Mar. 2021 Jan.-Mar. 2020
1. Total operating income
15,252,265,770.99
11,728,574,704.88
Including: Operating income 15,252,265,770.99
11,728,574,704.88
Interest income
Premium earned
and commission
| Income from handling charges |
2. Total operating cost 14,342,475,515.13
11,541,446,733.82
Including: Operating cost 13,850,889,731.59
10,759,718,222.36
Interest expense
and commission
| Expenditure for handling charges |
Surrender value
Net expenditure for compensation
contract appropriated
| Net provision for insurance |
Bonus payment for policy
Reinsurance premium
Tax and surcharges 103,677,773.51
51,561,831.30
Selling and distribution expenses 21,419,092.78
315,712,277.98
expenses
197,489,963.37
| General and administrative |
185,915,642.34
| Research and development |
expenses
9,276,704.82
8,416,671.23
Financial expenses 159,722,249.06
220,122,088.61
Including: Interest expense 248,978,172.74
246,021,732.55
Interest income 114,535,834.58
72,914,133.66
Add: Other income 16,562,376.50
18,439,817.04
Income on investment（“-” for loss）
Including: Income from
joint ventures
| associates and | ||
| Income from derecognition of |
financial assets measured at amortized cost
Exchange gains
income （“-” for loss）
| Net exposure hedging |
fair value （“-” for loss）
| Gains from the change of | ||
| Credit impairment losses |
（“-” for loss
1,012,753.44
| Asset impairment losses |
(losses are listed with "-")
-19,207,549.90
Assets disposal gains（“-
for loss）
130,675.05
| ” |
3. Operational profit（“-” for loss）
927,496,060.85
186,360,238.20
Add: Non-operating income 873,594.74
282,400.25
Less: Non-operating expenses 6,197,792.66
6,256,330.10
4. Total profit (“-” for loss) 922,171,862.93
180,386,308.35
Less: Income tax expenses 229,308,801.27
1,460,096.83
5. Net profit（“-” for loss）
692,863,061.66
178,926,211.52
1.Classification by continuing operating
(
| 1) Net profit from continuing |
operation
692,863,061.66
178,926,211.52
operation
| (2) Net profit from discontinued |
2.Classification by ownership
owners of parent company
686,599,759.65
| (1) Net profit attributable to the |
177,998,575.36
(2) Net profit attributable to non-controlling shareholders
6,263,302.01
927,636.16
6. Other comprehensive income
Other
after tax
| comprehensive income attributable to owners of the parent company | ||
| 1.Other comprehensive income items |
that will not be reclassified into gains/losses
(1) Re-measurement of defined
benefit plans of changes in net debt or netassets
| (2) Other comprehensive income under the equity method investee cannot be |
reclassified into profit or loss
(3) Changes in the fair value of
equity investments
| 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
income of investee to be clas
| sified into profit |
or loss afterwards under equity method
debt investments
| (2) Changes in the fair value of other |
(3
comprehensive income
| ) Changes in the fair value of financial assets at fair value through other |
(4) Provision for
investments
| credit loss of other debt |
(5) Cash flow hedge reserve
currency financial statements
| (6) Translation differences in foreign |
(7) Others
| Other comprehensive income attributable to |
non-controlling shareholders after tax
7. Total comprehensive income 692,863,061.66
178,926,211.52
company
686,599,759.65
| Total comprehensive income attributable to the owner of the parent |
177,998,575.36
| Total comprehensive income |
attributable to non-controlling shareholders
6,263,302.01
927,636.16
8. Earnings per share 1) Basic earnings per share 0.18
0.05
2) Diluted earnings per share 0.18
0.05
The current business combination under common control, the net profits of the combined party before achieved: 0.00Yuan,net profit of previous period of the combined party realized: 0.00Yuan.Legal Representative: Gao Lie Chief Financial Officer: Lin Dong Chief Accountant: Cong Yajuan
4. STATEMENT OF COMPREHENSIVE INCOME
Unit: RMBItem Jan.-Mar. 2021 Jan.-Mar. 2020
1. Total operating income 16,037,471,133.52
12,263,353,879.66
Less: Operating cost 14,725,993,329.30
11,478,300,497.98
Tax and surcharges 91,690,471.51
44,905,595.40
Selling and distribution expenses 19,785,727.27
186,148,487.15
General and administrative expenses 184,199,235.18
171,553,819.80
Research and development expenses 9,276,704.82
8,416,671.23
Financial expenses 155,122,738.36
212,078,788.48
Including: Interest expense 238,120,530.02
231,068,313.59
Interest income 108,194,621.37
65,935,368.22
Add: Other income 16,122,376.50
18,009,908.60
Income on investment（“-” for loss）
joint ventures
| Including: Income from associates and | ||
| Income from derecognition of financial |
assets measured at amortized cost
（“-” for loss）
| Net exposure hedging income |
fair value （“-” for loss）
| Gains from change of | ||
| Credit impairment loss |
（“-” for loss）
1,012,753.44
Asset impairment loss（“-” for loss）
-19,207,549.90
Assets disposal gains（“-
for loss）
130,675.05
| ” |
2. Operational profit（“-” for loss）
868,668,732.07
160,752,378.32
Add: Non-operating income 617,098.70
225,882.20
Less: Non-operating expenses 6,197,792.66
6,069,498.66
3. Total profit (“-” for loss) 863,088,038.11
154,908,761.86
Less: Income tax expenses 216,025,197.89
-4,801,887.48
4. Net profit（“-” for loss）
647,062,840.22
159,710,649.34
1.Net profit from continuing operation 647,062,840.22
159,710,649.34
2.Net profit from discontinued operation
5.Other comprehensive income
will not be reclassified into gains/losses
| 1.Other comprehensive income items that |
(1) Re-
plans of changes in net debt or net assets
| measurement of defined benefit |
into profit or loss
| (2) Other comprehensive income under the equity method investee cannot be reclassified |
equity investments
| (3) Changes in the fair value of other |
credit risk
| (4) Changes in the fair value of Corporate |
(5) Others
reclassified into profit or loss.
| 2.Other comprehensive income that will be |
afterwards under equity method
| (1) Share of other comprehensive income of investee to be classified into profit or loss |
investments
| (2) Changes in the fair value of other debt |
assets at fair val
| ue through other comprehensive |
income
investments
| (4) Provision for credit loss of other debt |
(5) Cash flow hedge reserve
currency financial statements
| (6) Translation differences in foreign |
(7) Others
6. Total comprehensive income 647,062,840.22
159,710,649.34
7. Earnings per share1）Basic earnings per share
2）Diluted earnings per share
5. CONSOLIDATED STATEMENT OF CASH FLOWS
Unit: RMB
Item Jan.-Mar. 2021 Jan.-Mar. 2020
1.Cash flow from operating activities
rendering of services
9,965,304,063.89
| Cash received from sale of goods or |
7,864,260,416.76
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
the insured
| increase of deposit and investment of | ||
| Cash from receiving interest, handling |
charge and commission
| Net increase of loans from Borrowing funds |
Net increase of fund for buy-back business
Net increase of receiving from vicariouslytraded securities
Tax rebate received 35,592,041.90
12,824,913.18
| Other cash received relating to operating |
activities
44,680,105.17
50,831,445.98
| Subtotal of cash inflows from operating |
activities
10,045,576,210.96
7,927,916,775.92
Cash paid for goods and services 10,187,896,266.01
6,282,057,238.94
| Net increase of customer's loan and |
advances
| Net increase of deposit in central bank and |
interbank deposit
Cash payment for original insurancecontract compensation
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 499,525,498.95
481,908,334.86
Cash paid for all types of taxes 304,963,305.18
458,533,701.03
| Other cash paid relating to operating |
activities
19,661,406.05
20,570,880.87
| Subtotal of cash outflows from operating |
activities
11,012,046,476.19
7,243,070,155.70
Net cash flows from operating activities -966,470,265.23
684,846,620.22
2. Cash flows from investing activities
Cash received from return on investments
| Cash received from distribution of |
dividends or profit
| Net cash received from disposal of fixed |
assets, intangible assets and other long-
assets
| term | ||
| 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
| Cash paid for acquisition of fixed assets, |
intangible assets and other long-term assets
420,987,681.05
224,332,091.19
Cash paid for acquisition of investments
Net increase of mortgage loan
| Net cash received from subsidiary and other |
operating unit
| Other cash paid relating to investing |
activities
3,000,000,000.00
| Subtotal of cash outflows from investing |
activities
3,420,987,681.05
224,332,091.19
Net cash flows from investing activities -3,420,987,681.05
-224,332,091.19
3. Cash flows from financing activitiesProceeds from investment
| Including: Proceeds from investment of |
non-controlling shareholders of subsidiary
Proceeds from borrowings 1,512,381,000.00
2,197,194,000.00
| Other proceeds relating to financing |
activities
Subtotal of cash inflows from
activities
1,512,381,000.00
| financing |
2,197,194,000.00
Cash repayments of borrowings 1,556,333,658.67
2,916,611,584.62
| Cash payments for distribution of |
dividends, profit or interest expenses
266,480,285.50
263,567,150.15
Including: Cash paid to non-
subsidiaries
| controlling shareholders as dividend and profit by | ||
| Other cash payments relating to financing |
activities
| Subtotal of cash outflows from financing |
activities
1,822,813,944.17
3,180,178,734.77
Net cash flows from financing activities -310,432,944.17
-982,984,734.77
| 4. Effect of foreign exchange rate changes |
on cash and cash equivalents
1,302,002.14
37,441,237.39
| 5. Net increase in cash and cash |
equivalents
-4,696,588,888.31
-485,028,968.35
| Add: Cash and cash equivalents at the |
beginning of the period
9,229,417,595.12
13,441,414,988.58
| 6. Cash and cash equivalents at the |
ending of the period
4,532,828,706.81
12,956,386,020.23
6. STATEMENT OF CASH FLOWS
Unit: RMBItem Jan.-Mar. 2021 Jan.-Mar. 2020
1. Cash flow from operating activities
rendering of services
9,900,871,109.50
| Cash received from sale of goods or |
7,801,529,586.28
Tax rebate received 15,393,055.96
| Other cash received relating to operating |
activities
35,586,079.84
39,105,003.15
Subtotal of cash
activities
9,951,850,245.30
| inflows from operating |
7,840,634,589.43
Cash paid for goods and services 10,159,123,025.48
6,197,815,675.01
Cash paid to and on behalf of employees 477,144,855.89
459,560,419.78
Cash paid for all types of taxes 270,877,880.57
434,526,418.13
| Other cash paid relating to operating |
15,425,570.97
16,129,733.15
activities
activities
10,922,571,332.91
| Subtotal of cash outflows from operating |
7,108,032,246.07
Net cash flows from operating activities -970,721,087.61
732,602,343.36
2. Cash flows from investing activitiesCash received from return on investments
| Cash received from distribution of |
dividends or profit
| Net cash received from disposal of fixed |
assets, intangible assets and other long-
assets
| term | ||
| 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
Cash paid for acquisition of fixed
intangible assets and other long-term assets
412,255,336.94
218,474,831.02
Cash paid for acquisition of investments
| Net cash paid for acquisition of subsidiary |
and other operating unit
| Other cash paid relating to investing |
activities
3,000,000,000.00
| Subtotal of cash outflows paid for |
investing activities
3,412,255,336.94
218,474,831.02
Net cash flows from investing activities -3,412,255,336.94
-218,474,831.02
3. Cash flows from financing activitiesProceeds from investment
Cash received from borrowings 1,412,381,000.00
1,957,194,000.00
| Other cash received relating to financing |
activities
| Subtotal of cash inflows from financing |
activities
1,412,381,000.00
1,957,194,000.00
Cash repayments of borrowings 1,421,333,658.67
2,676,611,584.62
| Cash payments for distribution of |
dividends, profit or interest
252,542,952.15
249,495,900.16
activities
| Other cash payments relating to financing | ||
| Subtotal of cash outflows from financing |
activities
1,673,876,610.82
2,926,107,484.78
Net cash flows from financing activities -261,495,610.82
-968,913,484.78
| 4. Effect of foreign exchange rate changes |
on cash and cash equivalents
1,300,453.72
33,421,536.16
| 5. Net increase in cash and cash |
equivalents
-4,643,171,581.65
-421,364,436.28
| Add: Cash and cash equivalents at the |
beginning of the period
8,897,859,003.60
13,029,616,298.47
| 6. Ending balance of cash and cash |
equivalents
4,254,687,421.95
12,608,251,862.19
Ⅱ. Adjustment of Financial Statement
1. Adjustment to the financial statement towards beginning balance due to the first-time implementation of new
leasing standards from 2021.
√ Applicable □ Not applicable
Whether to adjust the balance sheet account at the beginning of the year
√ Applicable □ Not applicable
CONSOLIDATED STATEMENT OF FINANCIAL POSITION
Unit: RMBItem 31 December 2020 1 January 2021 Adjustment amountCurrent assetsCash at bank and on hand 13,126,666,915.26
13,126,666,915.26
Account receivable 245,217,182.66
245,217,182.66
Accounts receivable financing 4,189,977,871.92
4,210,303,818.58
Prepayments 2,108,044,777.65
1,842,668,037.12
Other receivable 142,101,351.27
165,329,297.77
Inventories 9,040,065,342.65
9,043,886,183.05
Other current assets 5,523,646,836.01
5,523,520,390.81
Total current assets 34,375,720,277.42
34,157,591,825.25
Non-current assetsLong-term equity investments 2,742,064.73
2,788,647.95
Other equity investments 1,042,024,829.00
1,042,024,829.00
Fixed assets 26,284,567,956.44
26,284,567,956.44
Construction in progress 1,839,933,715.58
1,839,933,715.58
Right-of-use assets
1,541,868,510.81
1,541,868,510.81
Intangible assets 264,932,652.54
264,932,652.54
Deferred tax assets 201,708,932.84
200,866,214.95
Other non-current assets 995,840,320.65
1,237,539,145.81
Total non-current assets
30,631,750,471.78
32,414,521,673.08
1,541,868,510.81
| Total assets |
65,007,470,749.20
66,572,113,498.33
1,541,868,510.81
Current LiabilitiesShort-term loans 10,067,731,000.00
10,067,731,000.00
Notes payable 9,814,149,348.42
9,834,475,295.08
Accounts payable 5,914,228,256.82
5,914,228,256.82
Contract liabilities 4,458,671,819.90
4,458,671,819.90
Employee benefits payable 25,749,485.25
25,749,485.25
Current tax liabilities 55,302,080.96
55,301,055.34
Other payables 709,448,301.92
708,349,201.31
Non-current liabilities due withinone year
1,308,030,361.43
1,308,030,361.43
Other current liabilities 579,627,336.58
Total current liabilities 32,932,937,991.28
32,952,163,811.71
Non-current liabilitiesLong-term loans 3,502,934,427.65
3,502,934,427.65
Bonds payables 5,752,229,339.52
5,752,229,339.52
Lease liabilities
1,541,868,510.81
1,541,868,510.81
Long-term payables 1,114,232,362.74
1,114,232,362.74
Deferred income 154,451,833.23
154,451,833.23
Total non-current liabilities 10,523,847,963.14
12,065,716,473.95
1,541,868,510.81
Total liabilities 43,456,785,954.42
45,017,880,285.66
1,541,868,510.81
Shareholders' equity:
Share capital 3,875,371,532.00
3,875,371,532.00
Other equity instruments 1,146,290,662.42
1,146,290,662.42
Capital reserve 12,343,209,847.29
12,343,209,847.29
Special reserves 300,412.14
300,412.14
Surplus reserves 961,105,529.85
961,105,529.85
Undistributed profits 2,692,018,405.40
2,695,566,823.29
Total equity attributable to equityholders of the parent company
21,018,296,389.10
21,021,844,806.99
Non-controlling interests 532,388,405.68
532,388,405.68
Total shareholder's equity 21,550,684,794.78
21,554,233,212.67
| Total of liabilities and owners’ |
equity
65,007,470,749.20
66,572,113,498.33
1,541,868,510.81
Illustration of adjustmentSTATEMENT OF FINANCIAL POSITION
Unit: RMBItem 31 December 2020 1 January 2021 Adjustment amountCurrent assetsCash at bank and on hand 11,808,618,300.87
11,808,618,300.87
Account receivable 289,865,462.20
289,865,462.20
Accounts receivable financing 4,143,431,412.08
4,143,431,412.08
Prepayments 2,117,204,935.75
1,851,828,195.22
Other receivable 228,180,190.02
251,408,136.72
Inventories 7,420,499,172.20
7,420,679,014.84
Other current assets 5,437,282,088.94
5,437,282,088.94
Total current assets 31,445,081,562.06
31,203,112,610.87
Non-current assetsLong-term equity investments 2,016,281,902.16
2,016,281,902.16
Other equity investments 1,041,624,829.00
1,041,624,829.00
Fixed assets 24,755,665,765.30
24,755,665,765.30
Construction in progress 1,798,639,941.58
1,798,639,941.58
Right-of-use assets
1,541,868,510.81
1,541,868,510.81
Intangible assets 142,163,903.40
142,163,903.40
Deferred tax assets 98,480,706.23
98,548,237.73
Other non-current assets 988,475,426.53
1,230,174,251.69
Total non-current assets 30,841,332,474.20
32,624,967,341.67
1,541,868,510.81
Total assets 62,286,414,036.26
63,828,079,952.54
1,541,868,510.81
Current liabilitiesShort-term loans 9,107,731,000.00
9,107,731,000.00
Notes payable 8,348,607,405.21
8,348,607,405.21
Accounts payable 6,280,468,684.34
6,280,468,684.34
Contract Liabilities 5,324,357,761.83
5,324,357,761.83
Employee benefits payable 23,981,010.53
23,981,010.53
Current tax liabilities 42,514,891.31
42,514,891.31
Other payables 368,374,954.61
368,374,954.61
Non-current liabilities due withinone year
1,308,030,361.43
1,308,030,361.43
Other current liabilities 692,166,509.04
Total current liabilities 31,496,232,578.30
31,496,232,578.30
Non-current liabilitiesLong term loans 3,502,934,427.65
3,502,934,427.65
Bonds payable 5,752,229,339.52
5,752,229,339.52
Lease liabilities
1,541,868,510.81
1,541,868,510.81
Long-term payables 1,108,412,163.50
1,108,412,163.50
Deferred income 154,451,833.23
154,451,833.23
Total non-current liabilities 10,518,027,763.90
12,059,896,274.71
1,541,868,510.81
Total liabilities42,014,260,342.20
43,556,128,853.01
1,541,868,510.81
Shareholder’s equity:
Share capital3,875,371,532.00
3,875,371,532.00
Other equity instruments1,146,290,662.42
1,146,290,662.42
Capital reserves 11,923,058,165.17
11,923,058,165.17
Special reserves 120,972.62
120,972.62
Surplus reserves 961,105,529.85
961,105,529.85
Undistributed Profits 2,366,206,832.00
2,366,004,237.47
Total shareholder's equity20,272,153,694.06
20,271,951,099.53
Total liabilities andshareholder’s equity
62,286,414,036.26
63,828,079,952.54
1,541,868,510.81
Illustration of adjustment
2. Illustration of the first implementation of the new lease standards, retrospective adjustment towards the
previous data from 2021.
□ Applicable √ Not applicable
Ⅲ. Audit reportWhether the first quarter report is audited
□ Yes √ No
The first quarter report is not audited.