2021-10-25-深交所-瓦轴B_2021年第三季度报告（英文版）_14页_309kb

Financial Performance Summary for Wafangdian Bearing Company Limited (2021 Q3):

• Revenue: Operating income increased from 414,418,131.31 Yuan in Q3 2020 to 440,207,250.83 Yuan in Q3 2021, a growth of approximately 6.2% year-over-year. This rise was driven by higher main business revenue.

• Net Profit: Net profit attributable to shareholders of the listed company deteriorated from a loss of -10,122,561.29 Yuan in Q3 2020 to -13,769,643.48 Yuan in Q3 2021, indicating a wider loss. The net profit after deducting non-recurring gains/losses was -16,011,963.22 Yuan, reflecting operational challenges.

• Cash Flow: Net cash flow from operating activities was negative at -5,519,604.75 Yuan, a significant decline from positive 136,258,773.63 Yuan in Q3 2020. This was due to increased expenses and unfavorable changes in working capital, including higher taxes and dividend payments.

• Growth Drivers: Revenue growth was attributed to increases in main business activity, but profitability declined due to higher management costs (e.g., payroll) and operating costs, which rose with main business revenue.

Key changes in financial metrics:

• Prepayments decreased by 62.3% due to delayed material arrivals.
• Other current assets dropped by 76.0%, linked to reduced input tax deductions.
• Operating costs surged by 33.6%, outpacing revenue growth, impacting net profit.
• Non-recurring gains/losses included government subsidies and asset disposal income, but overall non-recurring losses contributed to the negative net results.

Shareholder information:

• Total common shareholders stood at 5,771 at the end of Q3 2021.
• Top ten shareholders held significant stakes, with Wafangdian Bearing Group Corporation as the largest holder (244 million shares, or 60.61%), and foreign investors like AKTIEBOLAGET SKF (19.70%). No material associations or voting rights issues detected.

Other significant events:

• No major announcements in this quarter, based on the report.

Board declaration: The company and its representatives confirm the accurate disclosure with no fictitious or misleading statements. The quarterly report has not been audited and covers financial data reported for Q3 2021, with adjustments for accounting policy changes.