2016-04-25-深交所-瓦_轴Ｂ_2016年第一季度报告全文（英文版）_11页_173kb

报告摘要

Wafangdian Bearing Company Limited Q1 2016 Report Summary

Core Content

This report is the Q1 2016 financial report of Wafangdian Bearing Company Limited (Stock code: 200706, Stock short form: Wazhou B). It includes the company's major accounting data, shareholder information, significant items, and financial statements such as the balance sheet, income statement, and cash flow statement.

Main Accounting Data and Shareholder Changes

Key Financial Data (Jan-Mar 2016 vs. Jan-Mar 2015)

Operating Income: 534,404,100.68 Yuan (down -8.26%)
Net Profits Attributed to Shareholders: 2,340,344.55 Yuan (down -105.99%)
Net Profit Available for Shareholders (Abnormal Incomes Deducted): -1,164,062.96 Yuan (up 97.20%)
Net Cash Flows from Operating Activities: 16,496,758.57 Yuan (down -126.55%)
Basic Earnings per Share: 0.01 Yuan (up -110.00%)
Diluted Earnings per Share: 0.01 Yuan (up -110.00%)
Net Returns on Assets (%): 0.17% (up 3.04%)
Total Assets: 3,589,537,082.53 Yuan (up 1.86%)
Owners' Equity (Shareholders' Equity): 1,350,805,319.88 Yuan (up 0.17%)

Non-Recurring Gains and Losses

Gain or Loss from Disposal of Non-Current Assets: -43,770.58 Yuan
Government Subsidies (Non-Related to Normal Business): 1,838,388.97 Yuan
Profit or Loss from Debt Restructuring: 1,028,287.75 Yuan
Other Non-Business Income and Expenditures: 1,299,926.22 Yuan
Influenced Amount of Income Tax: 618,424.85 Yuan
Total Non-Recurring Gains and Losses: 3,504,407.51 Yuan

Shareholder Information

Total Number of Shareholders: 7,499
Top Ten Shareholders (with 5% or more shares):
- Wafangdian Bearing Group Corporation (State-owned): 60.61%, 402,600,000 shares
- AKTIEBOLAGET SKF (Foreign): 19.70%, 79,300,000 shares
- Huang Junyue (Domestic): 1.00%, 3,990,000 shares
- GUOTAI JUNAN SECURITIES (Hong Kong) (Foreign): 0.70%, 2,708,740 shares
- BOCI SECURITIES (Hong Kong) (Foreign): 0.60%, 2,220,000 shares
- Jin Yunhuang (Foreign): 0.50%, 2,017,729 shares
- Hu Xiaofeng (Domestic): 0.50%, 1,879,277 shares
- CREDIT SUISS (Hong Kong) (Foreign): 0.30%, 1,049,915 shares
- MAN, KWAI WING 文贵荣 (Foreign): 0.20%, 713,101 shares
- Liao Yun (Domestic): 0.10%, 550,000 shares
Frozen Shares: AKTIEBOLAGET SKF (79,300,000 shares) due to the expiration of a frozen period in 1999.

Significant Items

Accounting Items with Changes Over 30%

Bills Receivable: Increased by 58.4% due to increased bank acceptance returns.
Dividend Receivable: Decreased by 100% due to the dividend receivable from ME being zero at the end of the period.
Other Receivables: Increased by 49.6% due to increased unreimbursed travel and meeting expenses.
Short-Term Loan: Increased by 39.0% due to a 1500 million Yuan increase in the report period.
Accounts Received in Advance: Decreased by 34.2% due to reduced advance payments from parent company and sales branch.
Financial Expense: Decreased by 42.4% due to reduced liquidity loan interest and increased net income on exchange.
Loss of Impairment of Assets: Decreased by 93.1% due to the write-off of 15,000 Yuan in account difference with Liao Ning Shu Guang.
Non-Operating Revenue: Increased by 55.1% due to fine income from agency.
Non-Operating Cost: Increased by 81.9% due to increased debt restructuring losses and non-current assets disposal losses.
Net Profit: Decreased by 106.0% due to decreased main business gross margin and reduced expenses.
Other Cash Received Relating to Operating Activities: Decreased by 62.2% due to reduced subsidies.
Cash Paid for Goods and Services: Decreased by 30.1% due to forgone discount acceptance repayment to financing activities.

Significant Events

No significant events were reported in this period.
Commitments: No commitments were fulfilled or unfulfilled in the reporting period.
Estimation of Accumulative Net Profit (Jan to June 2016): Not applicable.
Security Investment and Derivatives: Not applicable.
Research, Communication, and Interview Activities:
- 2016.01.27: Office, Telephone Communication, Private Investor, General company information.
- 2016.03.09: Office, Telephone Communication, Private Investor, General company information.
- 2016.03.17: Office, Telephone Communication, Private Investor, General company information.

Financial Statements

Consolidated Balance Sheet

Total Assets: 3,589,537,082.53 Yuan (up 1.86%)
Total Liabilities: 2,238,731,762.65 Yuan
Total Owner's Equity: 1,350,805,319.88 Yuan (up 0.17%)

Parent Company Balance Sheet

Total Assets: 3,433,372,144.24 Yuan
Total Liabilities: 2,070,634,758.80 Yuan
Total Owner's Equity: 1,362,737,385.44 Yuan

Consolidated Income Statement

Total Operating Income: 534,404,100.68 Yuan (down -8.26%)
Total Operating Cost: 536,186,588.49 Yuan (down -16.05%)
Operating Profit: -1,782,487.81 Yuan (up 92.58%)
Non-Operating Revenue: 4,423,429.08 Yuan (up 55.1%)
Non-Operating Cost: 300,596.72 Yuan (up 81.9%)
Total Profit: 2,340,344.55 Yuan (up 106.0%)
Net Profit: 2,340,344.55 Yuan (up 106.0%)
Earnings per Share: 0.01 Yuan (up -110.0%)

Parent Company Income Statement

Total Operating Income: 547,810,933.56 Yuan (down -8.86%)
Total Operating Cost: 493,808,513.55 Yuan (down -13.0%)
Operating Profit: -320,150.98 Yuan (up 99.1%)
Non-Operating Revenue: 3,513,983.78 Yuan (up 100.0%)
Non-Operating Cost: 300,596.72 Yuan (up 81.9%)
Total Profit: 2,893,236.08 Yuan (up 106.0%)
Net Profit: 2,893,236.08 Yuan (up 106.0%)
Earnings per Share: 0.01 Yuan (up -110.0%)

Consolidated Cash Flow Statement

Net Cash Flows from Operating Activities: 16,496,758.57 Yuan (up 126.55%)
Cash Flows from Investing Activities: 240,000.00 Yuan
Cash Flows from Financing Activities: 9,796.4 Yuan
Net Cash Flows from Investing Activities: 240,000.00 Yuan
Net Cash Flows from Financing Activities: 14,000.0 Yuan

Key Information

Board of Directors and Supervisors: The board and supervisors have confirmed the accuracy of the report.
Chairman: Meng Wei
Financial Manager: Sun Najuan
Accounting Charger: Yao Chunjuan
Shareholder Relationships: No clear relationships or concerted actions among the top ten shareholders.
Foreign Exchange Impact: A significant -407.0% change in the effect of foreign exchange rate changes on cash due to the Fed's interest rate hike.

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