Bengang Steel Plates Co., Ltd. Third Quarter Report 2019 Bengang Steel Plates Co., Ltd.
Third Quarter Report 2019
October 2019
Bengang Steel Plates Co., Ltd. Third Quarter Report 2019 I. Important Notice
The Board of Directors, the Supervisory Committee and the Directors, members of the Supervisory Committee and senior management of the Company guarantee that there are no misrepresentations or misleading statements, or material omission in this report, and individually and collectively accept full responsibility for the authenticity, accuracy andintegrity of the information contained in this report.
All the members of the Board of Directors attended the board meeting on which this report was examined.
Gao Lie, Chairman of the Company, Shen Qiang, the principal in charge of the accounting, and Zhao Zhonghua, Chief of Accounting Affairs, make the pledge for the authenticity, accuracy and integrity of the attached financial statements.
Bengang Steel Plates Co., Ltd. Third Quarter Report 2019 II. Company Profile
I. Summary of Accounting data and Financial index
Whether the Company makes retroactive adjustment or restatement of the accounting data of the previous year
□ Yes√ No
||||||||
|-|-|-|-|-|-|-|
||||||Increase or decrease at the end of||
||At the end of the current||||||
||||At the end of previous year||this reporting period over the||
||period||||||
||||||previous year||
|Total assets（RMB）|63,759,364,131.78||59,632,504,915.83||6.92%||
|Net assets attributable to|19,439,854,342.60||19,126,258,116.67||||
|shareholders of the listed company|||||1.64%||
|（RMB）|||||||
|||Increase or decrease||From the beginning of||Increase or decrease over|
||This reporting period|over the same period||this year to the end of||the same period of the|
|||of the previous year||this reporting period||previous year|
|Operating income（RMB）|14,441,830,940.38|8.48%||38,544,426,107.52||4.87%|
|Net profit attributable to the|34,229,631.12|||487,439,246.88|||
|shareholders of the listed company||-49.83%||||-40.93%|
|（RMB）|||||||
|Net profit after deducting of non-|||||||
|recurring gain/loss attributable to|||||||
||26,305,669.24|-49.16%||479,515,285.00||-38.26%|
|the shareholders of listed company|||||||
|（RMB）|||||||
|Net Cash flow generated by||||4,055,738,221.28|||
||--|--||||-41.50%|
|business operation（RMB）|||||||
|Basic earnings per|0.01|||0.13|||
|||-50.00%||||-38.10%|
|share(RMB/Share)|||||||
|Diluted earnings per|0.01|||0.13|||
|||-50.00%||||-38.10%|
|share(RMB/Share)|||||||
|Weighted average net assets yield|0.18%|-0.18%||2.53%||-2.44%|

 Items and amount of non-recurring profit and loss
√ Applicable□ Not applicable
Bengang Steel Plates Co., Ltd. Third Quarter Report 2019 Unit: Yuan
||||
|-|-|-|
||From the beginning of the year to||
|Items||Notes|
||the end of the current period||
|Profit or loss from disposal of non-current assets|||
|(including the write-off part for which assets|-55,191,533.14||
|impairment provision is made)|||
|Details of government subsidies recorded into current|||
|profits and loss（except such government subsidy|||
|closely related to the company’s normal business|||
||62,516,500.00||
|operation, meeting the regulation of national policy and|||
|enjoyed constantly in certain quota or quantity|||
|according to a certain standard）|||
|Profit or loss from debt restructuring|50,640.00||
|Other non-operating revenue and expenditure other than|||
||762,123.88||
|above items|||
|Less: Impact of income tax|203,190.97||
|Impact of minority interests (after tax)|10,577.89||
|Total|7,923,961.88|--|

For theCompany’s non-recurring profit and loss items as defined in “the Explanatory Announcement No.1 on information disclosure for Companies Offering their Securities to the Public-Non-recurring Profits and Losses” and its non-recurring profit and loss items as illustrated in “the Explanatory Announcement No.1 on information disclosure for Companies Offering their Securities to the Public-Non-recurring Profits and Losses” which have been defined as recurring profits and 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 Explanatory Announcement No.1 on information disclosure for Companies Offering their Securities to the Public-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
|||||||||
|-|-|-|-|-|-|-|-|
|||||The total number of preferred||||
|Total number of common||||||||
|||||shareholders whose voting rights has||||
|shareholders at the end of the||53,728|||||0|
|||||been restored at end of the reporting||||
|reporting period||||||||
|||||period（if any）||||
|Shareholding by Top 10 shareholders||||||||
|Name of the|Nature of|Proportion of|Quantity of||Amount of|Number of share pledged/frozen||

Bengang Steel Plates Co., Ltd. Third Quarter Report 2019
||||||||
|-|-|-|-|-|-|-|
|shareholder|shareholder|shares held|shares|restricted shares|||
||||||State of share|Quantity|
|||||held|||
|Benxi Steel & Iron(Group) Co., Ltd.|State-owned legalperson|61.44%|2,381,105,094||Pledged|732,115,333|
||||||Frozen|45,000,000|
|LiaoningProvincialTransportationInvestment GroupCo., Ltd.|State-owned legalperson|4.77%|184,842,883||||
|CCB PrincipalAssetManagement –ICBC – CR Trust– CR Trust · XingSheng No. 5Collective FundTrust Plan|Others|4.77%|184,842,883||||
|Bei Xin Rui FengFund – ChinaMerchants Bank –Bei Xin Rui FengFund Feng QingNo. 229 AssetManagement Plan|Others|4.77%|184,842,883||||
|China Life AMPFund– ICBC –China Life AMP –Hua Xin TrustTargetedAdditional SharesIssuance No. 10AssetManagement Plan|Others|4.77%|184,842,883||||
|Liang Zhongqing|Domesticnaturalperson|0.71%|27,623,365||||
|Liu Qiuying|Domesticnaturalperson|0.34%|13,274,400||||
|VANGUARDEMERGING|Overseaslegal person|0.21%|8,157,311||||

Bengang Steel Plates Co., Ltd. Third Quarter Report 2019
|||||||
|-|-|-|-|-|-|
|MARKETSSTOCK INDEXFUND||||||
|Chen Jinhong|Domesticnaturalperson|0.18%|6,876,375|||
|Yi Honglu|Domesticnaturalperson|0.17%|6,426,080|||
|Shareholding of top 10 shareholders of unrestricted shares||||||
|||Number of non-restricted common shares held at the||Category of shares||
|Name of the shareholder||||||
|||period-end||Category of shares|Quantity|
|Benxi Steel & Iron (Group) Co.,Ltd.||2,381,105,094||Common shares in||
||||||2,381,105,094|
|||||RMB||
|Liaoning ProvincialTransportation InvestmentGroup Co., Ltd.||184,842,883||||
|||||Common shares in||
||||||184,842,883|
|||||RMB||
|CCB Principal AssetManagement – ICBC – CR Trust– CR Trust · Xing Sheng No. 5Collective Fund Trust Plan||184,842,883||||
|||||Common shares in||
||||||184,842,883|
|||||RMB||
|Bei Xin Rui Feng Fund – ChinaMerchants Bank – Bei Xin RuiFeng Fund Feng Qing No. 229Asset Management Plan||184,842,883||||
|||||Common shares in||
||||||184,842,883|
|||||RMB||
|China Life AMP Fund– ICBC –China Life AMP – Hua XinTrust Targeted AdditionalShares Issuance No. 10 AssetManagement Plan||184,842,883||||
|||||Common shares in||
||||||184,842,883|
|||||RMB||
|Liang Zhongqing||27,623,365||Common shares in||
||||||27,623,365|
|||||RMB||
|Liu Qiuying||13,274,400||Common shares in||
||||||13,274,400|
|||||RMB||
|VANGUARD EMERGINGMARKETS STOCK INDEXFUND||8,157,311||Foreign shares||
|||||placed in domestic|8,157,311|
|||||exchange||
|Chen Jinhong||6,876,375||Common shares in||
||||||6,876,375|
|||||RMB||
|Yi Honglu||6,426,080||Common shares in|6,426,080|

Bengang Steel Plates Co., Ltd. Third Quarter Report 2019
||||
|-|-|-|
|||RMB|
|Related-parties or acting-in-|It is unknown to the Company whether there is any related parties or action-in-concert parties as||
|concert parties among the|defined in “Measures for the Administration of the Takeover of Listed Companies”among the||
|above-mentioned shareholders|above-mentioned shareholders.||
||Benxi Steel & Iron (Group) Co., Ltd. holds 2,142,105,094 shares of the company through an||
||ordinary securities account, and holds 239,000,000 shares through the investor's credit securities||
|Shareholders among the top 10|||
||account, therefore, it holds a total of 2,381,105,094 shares. Liang Zhongqing holds 500 shares of||
|participating in securities|||
||the company through general securities account and 27,622,865 shares of the company through||
|margin trading (if any)|||
||an investor's credit securities account. Yi Honglu holds 6,426,080 shares of the company through||
||an investor's credit securities account.||

Whether top 10 common shareholders and top 10 un-restricted common shareholders have a buy-back agreement dealing in reporting period
□ Yes√ No
Top 10 common shareholders and top 10 un-restricted common shareholders had no buy-back agreement dealing in reporting period.
2. Total Number of Preferred Shareholders and Shareholding of Top 10 Preferred
Shareholders
□ Applicable√ Not applicable
Bengang Steel Plates Co., Ltd. Third Quarter Report 2019 III. Important Events
I. Major Changes in Financial Data and Financial Index and Reasons
√ Applicable□ Not applicable
⚫ Items and reasons for the changes of more than30% compared with the beginning of the year in the consolidated statement
||||
|-|-|-|
|1. Statement of Financial Position|Increase /Decrease|Reasons|
|Construction in progress|113%|Due to the increase of construction inprogress that did not meet the conditions oftransferring to fixed assets at the end of theperiod|
|Accounts payables|50%|Due to the increase of accounts payables inthe current period|
|Tax payable|-89%|Due to the decrease of VAT payable at theend of this period|
|Non-current liabilities due withinone year|552%|Due to the conversion of long-termborrowings into non-current liabilities duewithin one year|
|Long-term payables|446%|Due to the increase in equipment leased atthe end of the period.|
|Special reserves|2913%|Due to the decrease of payment of safetyproduction fee|

⚫ Items and reasons for the changes of more than30% compared to January to September 2018 in the consolidated financial statements
||||
|-|-|-|
|2. Statement of comprehensive income|Increase /Decrease|Reasons|
|Research and developmentexpenses|606%|Due to the increase of research anddevelopment expenses in current period|
|Financial expenses|-69%|Due to the decrease of exchange loss|
|Investment income|-99%|Due to the decrease in financial productspurchased during the period.|
|Asset disposal gains|170%|Due to the increase of disposal income onfixed assets|
|Non-operating income|323%|Due to the increase of gains arose fromfixed assets scrapping|
|Non-operating expenses|3164%|Due to the increase of losses arose fromfixed assets scrapping|

Bengang Steel Plates Co., Ltd. Third Quarter Report 2019 Income tax expenses 84% Due to the increase of deferred income tax
||||
|-|-|-|
|Profit or loss of non-controllingshareholders|-114%|Due to the decrease of profit of holdingsubsidiaries|
|3. Statement of cash flows|Increase /Decrease|Reasons|
|Other cash received relating tooperating activities|115%|Due to the increase of other cash receivedrelating to operating activities|
|Cash paid for all types of taxes|47%|Due to the increase of taxes paid during thecurrent period|
|Cash paid for acquisition of fixedassets, intangible assets and otherlong-term assets|-33%|Due to the decrease of payment of acquisitionof fixed assets, intangible assets during thecurrent period|
|Cash received from borrowings|-65%|Due to the decrease of reception ofborrowings|
|Cash repayments of borrowings|-77%|Due to the decrease of cash on repayment ofborrowings|

II. Progress and influence of significant events, as well as the analysis and
explanation on solutions
√ Applicable□ Not applicable
On May 22, 2019, the second meeting of the eighth board of directors of the company and the second extraordinary shareholders meeting of the company in 2019 on June 10, 2019 reviewed and approved the relevant proposals on the company's public offering of A-share convertible corporate bonds. The China Securities Regulatory Commission (hereinafter referred to as the “China Securities Regulatory Commission”) accepted the application materials for the public offering of A-share convertible corporate bonds on August 7, 2019, and received the Notice issued by the China Securities Regulatory Commission on September 18, 2019. The “Notice of Feedback of the China Securities Regulatory Commission's Administrative Licensing Project Review” (No. 192096), the company and relevant intermediaries carried out serious verification and implementation work for the feedback, and in accordance with the requirements of the feedback, the information was supplemented and The question was answered and the relevant reply was disclosed on October 15, 2019. The company's issue of convertible corporate bonds is still subject to the approval of the China Securities Regulatory Commission. There is uncertainty as to whether it can be approved. Investors are advised to pay attention to investment risks.
||||
|-|-|-|
|||Interim report disclosure|
|Overview of important matters|Date of disclosure||
|||website query index|

Bengang Steel Plates Co., Ltd. Third Quarter Report 2019
||||
|-|-|-|
|The company signed the "AssetTransfer Agreement" with Benxi Steel(Group) Co., Ltd. and Benxi BeiyingIron and Steel (Group) Co., Ltd., andacquired the equipment and equipmentassets related to 2300mm hot rollingmill production line held by BenxiIron and Steel Co., Ltd. and theequipment and equipment assetsrelated to the 1780mm hot rolling millproduction line held by Benxi BeiyingCompany. The company completed thepurchase of the target assets onSeptember 3, 2019.|||
|||www.cninfo.com.cn|
||August 15, 2019||
|||Announcement No.: 2019-051|
|||www.cninfo.com.cn|
||September 03, 2019||
|||Announcement No.: 2019-058|

Progress in the implementation of share repurchase
□ Applicable√ Not Applicable
Progress in the implementation of the reduction of shareholding shares by centralized competitive
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
||||||||
|-|-|-|-|-|-|-|
||Commitment|Type of||Commitment|Commitment||
|Commitment reasons|||Contents|||Performance|
||party|commitment||time|period||
|Commitment to share|||||||
|reform|||||||
|Commitment made in|||||||
|the acquisition report or|||||||
|the equity change|||||||
|report|||||||
|Commitment made|||||||
|during asset|||||||
|restructuring|||||||
||||According to||||
||||the relevant||||
||Company||provisions of||||
|Commitment made|||||||
||directors,|Other|the China|January 26,|December 9,|Under normal|
|during initial public|||||||
||senior|commitments|Securities|2016|2019|fulfillment|
|offering or refinancing|||||||
||management||Regulatory||||
||||Commission,||||
||||the following||||

Bengang Steel Plates Co., Ltd. Third Quarter Report 2019
||
|-|
|commitments|
|can be made|
|to the|
|company’s|
|efforts to fill|
|the rewards:|
|During the|
|tenure,|
|faithfully and|
|diligently|
|perform duties|
|and safeguards|
|the legitimate|
|rights and|
|interests of the|
|company and|
|all|
|shareholders,|
|including but|
|not limited to:|
|1.|
|Commitment|
|not to transfer|
|benefits to|
|other units or|
|individuals|
|without|
|compensation|
|or unfair|
|conditions,|
|and not to|
|damage the|
|company’s|
|interests in|
|other ways; 2.|
|Commitment|
|to constrain|
|the behavior|
|of job|
|consumption;|
|3.|
|Commitment|
|to not use|
|company|

Bengang Steel Plates Co., Ltd. Third Quarter Report 2019
||
|-|
|assets to|
|engage in|
|investment|
|and|
|consumption|
|activities|
|unrelated to|
|the|
|performance|
|of their duties;|
|4.|
|Commitment|
|to the|
|compensation|
|system|
|established by|
|the board of|
|directors or|
|the|
|Remuneration|
|and Appraisal|
|Committee is|
|linked to the|
|implementatio|
|n of the|
|company's|
|measures to|
|cover the|
|return; 5. If|
|the company|
|launches an|
|equity|
|incentive plan|
|in the future,|
|the terms of|
|the exercise of|
|the equity|
|incentive plan|
|are linked to|
|the|
|implementatio|
|n of the|
|company's|
|measures to|

Bengang Steel Plates Co., Ltd. Third Quarter Report 2019
||||
|-|-|-|
|||fill the|
|||rewards.|
|Equity incentive|||
|commitment|||
|Other commitments to|||
|the company's minority|||
|shareholders|||
|Commitment to fulfill|||
||Yes||
|on time|||

IV. Investment in Securities
□ Applicable√ Not applicable
There are no securities investments in the reporting period.
V. Entrusted Financial Management
□ Applicable√ Not applicable
There is no entrusted financial management in the reporting period.
VI. Investment in Derivatives
□ Applicable√ Not applicable
There is no investment in derivatives in the reporting period.
VII. 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.
VIII. 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.
IX. Illustrations of Non-Operating Occupation of Funds by the Controlling Shareholder and Related Parties
□ Applicable√ Not applicable
There is no non-operating occupation of funds by the controlling shareholder and related parties.
Bengang Steel Plates Co., Ltd. Third Quarter Report 2019 IV. Financial Report
I. Financial Statements
1. CONSOLIDATED STATEMENT OF FINANCIAL POSITION
Prepared by: Bengang Steel Plates Co., Ltd.
Unit: Yuan
||||
|-|-|-|
|Items|Sep 30th , 2019|Dec 31st, 2018|
|Current assets:|||
|Cash at bank and on hand|19,984,210,581.72|16,567,471,755.77|
|Settlement provisions|||
|Capital lent|||
|Financial assets held for trading|||
|Financial assets at fair value through|||
|profit or loss|||
|Derivative financial assets|||
|Notes receivable|2,647,287,059.10|3,580,145,843.38|
|Accounts receivable|592,287,178.61|639,482,481.45|
|Receivables financing|||
|Prepayments|1,284,152,966.11|1,321,537,514.78|
|Premium receivable|||
|Reinsurance accounts receivable|||
|Receivable deposit for reinsurance|||
|contract|||
|Other receivables:|208,492,688.07|202,763,964.98|
|Including: Interest receivables|12,642,974.12|11,608,705.43|
|Dividend receivables|||
|Redemptory financial assets for sale|||
|Inventories|9,648,655,795.97|10,677,747,112.40|
|Contract assets|||
|Assets classified as held for sale|||
|Non-current assets due within one year|||
|Other current assets|330,615,190.73|292,119,771.13|
|Total current assets|34,695,701,460.31|33,281,268,443.89|
|Non-current assets:|||

Bengang Steel Plates Co., Ltd. Third Quarter Report 2019
||||
|-|-|-|
|Loan and advances issued|||
|Debt investments|||
|Available-for-sale financial assets||1,041,824,829.00|
|Other debt investments|||
|Held-to-maturity investments|||
|Long-term receivables|||
|Long-term equity investments|2,481,589.04|2,455,681.55|
|Other equity instrument investments|1,041,824,829.00||
|Other non-current financial assets|||
|Investment properties|||
|Fixed assets|25,722,058,707.79|23,924,504,539.97|
|Construction in progress|1,785,959,831.48|836,594,457.82|
|Productive biological assets|||
|Oil and gas assets|||
|Right of use assets|||
|Intangible assets|273,141,866.04|278,062,441.04|
|Development expenditure|||
|Goodwill|||
|Long-term deferred expenses|||
|Deferred tax assets|174,168,423.31|191,452,547.21|
|Other non-current assets|64,027,424.81|76,341,975.35|
|Total non-current assets|29,063,662,671.47|26,351,236,471.94|
|Total assets|63,759,364,131.78|59,632,504,915.83|
|Current Liabilities:|||
|Short-term loans|12,535,851,000.00|11,938,490,375.85|
|Loan from central bank|||
|Absorbed deposit and interbank deposit|||
|Financial liabilities held for trading|||
|Financial liabilities at fair value through|||
|profit or loss|||
|Derivative financial liabilities|||
|Notes payable|10,721,947,779.82|10,013,192,014.02|
|Accounts payable|8,297,245,042.10|5,522,042,811.65|
|Advance from customers|3,716,963,704.35|3,331,854,098.42|

Bengang Steel Plates Co., Ltd. Third Quarter Report 2019
||||
|-|-|-|
|Contract Liabilities|||
|Financial assets sold for repurchase|||
|Deposits from customers and interbank|||
|Acting trading securities|||
|Acting underwriting securities|||
|Employee benefits payable|50,531,098.73|51,466,231.72|
|Current tax liabilities|55,344,641.91|515,752,369.68|
|Other payables|850,901,676.15|862,511,178.96|
|Including: Interest payables|8,014,283.24|9,658,681.99|
|Dividend payables|||
|Handling charges and commission|||
|payable|||
|Reinsurance accounts payable|||
|Liabilities held for sale|||
|Non-current liabilities due within one|||
||2,288,751,448.16|350,965,576.32|
|year|||
|Other current liabilities|||
|Total current liabilities|38,517,536,391.22|32,586,274,656.62|
|Non-current liabilities:|||
|Provision for insurance contract|||
|Long-term loans|4,972,547,175.82|7,083,640,094.16|
|Bonds payable|||
|Including: Preferred stock|||
|Perpetual bond|||
|Lease liabilities|||
|Long-term payables|74,746,302.05|13,686,705.92|
|Long-term employee benefits payables|||
|Estimated liabilities|||
|Deferred income|230,018,022.97|289,499,002.97|
|Deferred tax liabilities|||
|Other non-current liabilities|||
|Total non-current liabilities|5,277,311,500.84|7,386,825,803.05|
|Total liabilities|43,794,847,892.06|39,973,100,459.67|
|Shareholders’ equity:|||
|Share capital|3,875,371,532.00|3,875,371,532.00|

Bengang Steel Plates Co., Ltd. Third Quarter Report 2019
||||
|-|-|-|
|Other equity instruments|||
|Including: Preferred stock|||
|Perpetual bond|||
|Capital reserves|12,343,209,847.29|12,343,209,847.29|
|Less: treasury shares|||
|Other comprehensive income|||
|Special reserves|20,609,493.36|683,937.71|
|Surplus reserves|961,105,529.85|961,105,529.85|
|General risk reserves|||
|Undistributed profits|2,239,557,940.10|1,945,887,269.82|
|Total equity attributable to equity holders of|||
||19,439,854,342.60|19,126,258,116.67|
|the parent company|||
|Non-controlling interests|524,661,897.12|533,146,339.49|
|Total shareholder’s equity|19,964,516,239.72|19,659,404,456.16|
|Total liabilities and shareholder’s equity|63,759,364,131.78|59,632,504,915.83|

 Legal Representative: Gao Lie Person in charge of accounting: Shen Qiang Accounting Dept. Leader: Zhao Zhonghua 2. STATEMENT OF FINANCIAL POSITION OF THE PARENT COMPANY
Unit: Yuan
||||
|-|-|-|
|Items|Sep 30th, 2019|Dec 31st, 2018|
|Current assets:|||
|Cash at bank and on hand|18,280,266,796.50|15,536,305,375.00|
|Financial assets held for trading|||
|Financial assets at fair value through|||
|profit or loss|||
|Derivative financial assets|||
|Notes receivable|2,570,575,588.41|3,356,020,598.89|
|Accounts receivable|377,395,508.27|409,553,059.27|
|Receivables financing|||
|Prepayments|1,262,333,417.87|1,309,194,738.97|
|Other receivables|221,109,216.42|235,037,391.46|
|Including: Interest receivables|11,054,927.27|9,815,280.04|
|Dividend receivables|||
|Inventories|8,187,028,960.76|8,681,362,081.72|

Bengang Steel Plates Co., Ltd. Third Quarter Report 2019
||||
|-|-|-|
|Contract assets|||
|Assets classified as held for sale|||
|Non-current assets due within one year|||
|Other current assets|265,082,350.56|193,989,096.20|
|Total current assets|31,163,791,838.79|29,721,462,341.51|
|Non-current assets:|||
|Debt investments|||
|Available-for-sale financial assets||1,041,624,829.00|
|Other debt investments|||
|Held-to-maturity investment|||
|Long-term receivables|||
|Long-term equity investments|2,016,281,902.16|2,016,281,902.16|
|Other equity instrument investments|1,041,624,829.00||
|Other non-current financial assets|||
|Investment properties|||
|Fixed assets|24,088,077,920.91|22,035,187,328.57|
|Construction in progress|1,770,671,281.92|825,553,510.15|
|Productive biological assets|||
|Oil and gas assets|||
|Right of use assets|||
|Intangible assets|146,296,575.00|148,776,177.96|
|Development expenditure|||
|Goodwill|||
|Long-term deferred expenses|||
|Deferred tax assets|80,389,854.83|96,220,003.00|
|Other non-current assets|64,027,424.81|76,341,975.35|
|Total non-current assets|29,207,369,788.63|26,239,985,726.19|
|Total assets|60,371,161,627.42|55,961,448,067.70|
|Current Liabilities:|||
|Short-term loans|11,235,851,000.00|10,624,270,375.85|
|Financial assets held for trading|||
|Financial liabilities at fair value through|||
|profit or loss|||
|Derivative financial liabilities|||

Bengang Steel Plates Co., Ltd. Third Quarter Report 2019
||||
|-|-|-|
|Notes payable|8,554,883,676.61|9,213,748,427.22|
|Accounts payable|10,401,360,265.58|5,940,816,426.48|
|Advance from customers|3,570,678,789.25|3,189,143,565.45|
|Contract liabilities|||
|Employee benefits payable|50,140,067.57|49,378,095.47|
|Current tax liabilities|5,563,337.07|507,003,883.57|
|Other payables|522,902,727.37|538,051,513.13|
|Including: Interest payables|6,247,124.51|7,341,833.33|
|Dividend payables|||
|Liabilities held for sale|||
|Non-current liabilities due within one|||
||2,288,751,448.16|350,965,576.32|
|year|||
|Other current liabilities|||
|Total current liabilities|36,630,131,311.61|30,413,377,863.49|
|Non-current liabilities:|||
|Long-term loans|4,972,547,175.82|7,083,640,094.16|
|Bonds payable|||
|Including: Preferred stock|||
|Perpetual bond|||
|Lease liabilities|||
|Long-term payables|74,746,302.05|13,686,705.92|
|Long-term employee benefits payable|||
|Estimated liabilities|||
|Deferred incomes|230,018,022.97|289,499,002.97|
|Deferred tax liabilities|||
|Other non-current liabilities|||
|Total non-current liabilities|5,277,311,500.84|7,386,825,803.05|
|Total liabilities|41,907,442,812.45|37,800,203,666.54|
|Shareholders’ 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|

Bengang Steel Plates Co., Ltd. Third Quarter Report 2019
||||
|-|-|-|
|Less: treasury shares|||
|Other comprehensive income|||
|Special reserves|16,323,073.17|525,218.48|
|Surplus reserves|961,105,529.85|961,105,529.85|
|Undistributed profits|1,687,860,514.78|1,401,183,955.66|
|Total shareholder’s equity|18,463,718,814.97|18,161,244,401.16|
|Total liabilities and shareholder’s equity|60,371,161,627.42|55,961,448,067.70|

 3. CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME OF THE
CURRENT REPORTING PERIOD
Unit: Yuan
||||
|-|-|-|
|Items|The Current Period|The Previous Period|
|1. Total operating income|14,441,830,940.38|13,313,390,671.44|
|Including: Operating income|14,441,830,940.38|13,313,390,671.44|
|Interest income|||
|Premium earned|||
|Income from handling charges|||
|and commission|||
|2. Total operating cost|14,421,363,860.63|13,269,371,473.96|
|Including: Operating cost|13,739,273,641.14|11,807,011,528.70|
|Interest cost|||
|Expenditure for handling charges|||
|and commission|||
|Surrender value|||
|Net expenditure for compensation|||
|Net provision for insurance|||
|contract appropriated|||
|Bonus payment for policy|||
|Reinsurance premium|||
|Taxes and surcharges|60,775,436.14|65,070,725.45|
|Selling and distribution expenses|257,155,173.90|277,192,418.87|
|General and administrative|||
||219,140,981.53|194,084,503.86|
|expenses|||
|Research and development|||
||7,306,019.67|744,560.38|
|expenses|||
|Financial expenses|137,712,608.25|925,267,736.70|

Bengang Steel Plates Co., Ltd. Third Quarter Report 2019
||||
|-|-|-|
|Including: interest expenses|136,052,012.01|341,799,842.63|
|Interest incomes|89,695,933.07|47,196,277.02|
|Add: Other incomes|20,821,500.00|22,139,558.33|
|Income on investment ("-" for loss)|||
|Including: Income from associates and|||
|joint ventures|||
|Income from derecognition|||
|of financial assets measured at amortised cost|||
|("-" for loss)|||
|Exchange Income ("-" for loss)|||
|Hedging income from net exposure (“-"|||
|for loss)|||
|Gains from the change in fair value (“-"|||
|for loss)|||
|Expected credit losses (“-" for loss)|2,093,121.45||
|Asset impairment losses (“-" for loss)||6,821,520.16|
|Assets disposal gains（“-” for loss）|579,216.73|284,086.70|
|3. Operating profit ("-" for loss)|43,960,917.93|73,264,362.67|
|Add: Non-operating income|1,506,324.18|160,456.93|
|Less: Non-operating expenses|6,120,953.63|581,084.33|
|4. Total profit ("-" for loss)|39,346,288.48|72,843,735.27|
|Less: Income tax expenses|4,904,499.90|5,182,120.12|
|5. Net Profit ("-" for loss)|34,441,788.58|67,661,615.15|
|(1) Classification by continuing|||
|operating|||
|1 Net profit from continuing|||
||34,441,788.58|67,661,615.15|
|operation|||
|2 Net profit from discontinued|||
|operation|||
|(2) Classification by ownership|||
|1 Net profit attributable to the|||
||34,229,631.12|68,230,224.01|
|owners of parent company|||
|2 Net profit attributable to non-|||
||212,157.46|-568,608.86|
|controlling shareholders|||
|6. Other comprehensive income after tax|||
|Other comprehensive income attributable to|||
|owners of parent company after tax|||

Bengang Steel Plates Co., Ltd. Third Quarter Report 2019
||||
|-|-|-|
|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 net|||
|assets|||
|(2) . Other comprehensive income|||
|under the equity method cannot be reclassified|||
|into profit or loss|||
|(3). Changes of fair value of other|||
|equity instrument investments|||
|(4). Changes in the fair value of|||
|the company's own credit risk|||
|(5). Others|||
|2) Other comprehensive income that will|||
|be reclassified into profit or loss|||
|(1) . Other comprehensive income|||
|under the equity method can be reclassified|||
|into profit or loss|||
|(2). Gains and losses from fair|||
|value changes of other debt investments|||
|(3). Gains and losses from fair|||
|value changes of available-for-sale financial|||
|assets|||
|(4). Gains and losses resulting|||
|from reclassification of financial assets|||
|recognised in other comprehensive income|||
|(5). Gains and losses from|||
|reclassification of held-to-maturity|||
|investments to available-for-sale investments|||
|(6). Credit impairment losses of|||
|other debt investments|||
|(7). Effective portion of gains or|||
|losses from cash flow hedging|||
|(8). Translation differences in|||
|foreign currency financial statements|||
|(9). Others|||
|Other comprehensive income attributable to|||
|non-controlling shareholders after tax|||
|7. Total comprehensive income|34,441,788.58|67,661,615.15|

Bengang Steel Plates Co., Ltd. Third Quarter Report 2019
||||
|-|-|-|
|Total comprehensive income attributable|||
||34,229,631.12|68,230,224.01|
|to owners of parent company|||
|Total comprehensive income attributable|||
||212,157.46|-568,608.86|
|to non-controlling shareholders|||
|8. Earnings per share:|||
|1) Basic earnings per share|0.01|0.02|
|2) Diluted earnings per share|0.01|0.02|

 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 Person in charge of accounting: Shen Qiang Accounting Dept. Leader: Zhao Zhonghua
4. STATEMENT OF COMPREHENSIVE INCOME OF THE PARENT COMPANY OF
THE CURRENT REPORTING PERIOD
Unit: Yuan
||||
|-|-|-|
|Items|The Current Period|The Previous Period|
|1. Total operating income|14,566,987,831.66|12,985,694,384.88|
|Less: Operating cost|14,024,765,556.43|11,617,944,541.11|
|Taxes and surcharges|49,468,259.31|57,126,440.52|
|Selling and distribution expenses|147,799,392.26|175,224,699.33|
|General and administrative expenses|205,034,439.76|181,799,889.96|
|Research and development expenses|7,306,019.67|744,560.38|
|Financial expenses|127,265,933.34|912,638,828.57|
|Including: interest expenses|120,934,881.27|326,523,217.57|
|Interest incomes|84,996,191.09|45,650,825.86|
|Add: Other incomes|20,821,500.00|22,139,558.33|
|Income on investment ("-" for loss)|27,594,915.42|3,493,150.68|
|Including: Income from associates and|||
|joint ventures|||
|Income from derecognition|||
|of financial assets measured at amortised cost|||
|("-" for loss)|||
|Hedging income from net exposure (“-"|||
|for loss)|||
|Gains from the change in fair value (“-"|||
|for loss)|||
|Expected credit losses (“-" for loss)|1,245,121.45||

Bengang Steel Plates Co., Ltd. Third Quarter Report 2019
||||
|-|-|-|
|Asset impairment losses (“-" for loss)||6,821,520.16|
|Assets disposal gains（“-” for loss）|579,216.73|284,086.70|
|2. Operating profit ("-" for loss)|55,588,984.49|69,460,590.20|
|Add: Non-operating income|1,141,958.73|125,720.44|
|Less: Non-operating expenses|6,116,261.39|575,548.65|
|3. Total profit ("-" for loss)|50,614,681.83|69,010,761.99|
|Less: Income tax expenses|521,085.42|1,705,380.04|
|4. Net Profit ("-" for loss)|50,093,596.41|67,305,381.95|
|(1) Net profit from continuing operation|||
||50,093,596.41|67,305,381.95|
|("-" for loss)|||
|(2) Net profit from discontinued operation|||
|("-" for loss)|||
|5. Other comprehensive income after tax|||
|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 net|||
|assets|||
|(2) . Other comprehensive income|||
|under the equity method cannot be reclassified|||
|into profit or loss|||
|(3). Changes of fair value of other|||
|equity instrument investments|||
|(4). Changes in the fair value of|||
|the company's own credit risk|||
|(5). Others|||
|2) Other comprehensive income that will|||
|be reclassified into profit or loss|||
|(1) . Other comprehensive income|||
|under the equity method can be reclassified|||
|into profit or loss|||
|(2). Gains and losses from fair|||
|value changes of other debt investments|||
|(3). Gains and losses from fair|||
|value changes of available-for-sale financial|||
|assets|||
|(4). Gains and losses resulting|||
|from reclassification of financial assets|||

Bengang Steel Plates Co., Ltd. Third Quarter Report 2019
||||
|-|-|-|
|recognised in other comprehensive income|||
|(5). Gains and losses from|||
|reclassification of held-to-maturity|||
|investments to available-for-sale investments|||
|(6). Credit impairment losses of|||
|other debt investments|||
|(7). Effective portion of gains or|||
|losses from cash flow hedging|||
|(8). Translation differences in|||
|foreign currency financial statements|||
|(9). Others|||
|6. Total comprehensive income|50,093,596.41|67,305,381.95|
|7. Earnings per share:|||
|1) Basic earnings per share|||
|2) Diluted earnings per share|||

5. CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME FROM THE BEGINNING OF THE YEAR TO THE END OF THE CURRENT REPORTING PERIOD
Unit: Yuan
||||
|-|-|-|
|Items|The Current Period|The Previous Period|
|1. Total operating income|38,544,426,107.52|36,754,638,048.58|
|Including: Operating income|38,544,426,107.52|36,754,638,048.58|
|Interest income|||
|Premium earned|||
|Income from handling charges|||
|and commission|||
|2. Total operating cost|38,043,189,142.86|36,008,275,762.90|
|Including: Operating cost|35,806,886,370.79|32,611,218,949.68|
|Interest cost|||
|Expenditure for handling charges|||
|and commission|||
|Surrender value|||
|Net expenditure for compensation|||
|Net provision for insurance|||
|contract appropriated|||
|Bonus payment for policy|||

Bengang Steel Plates Co., Ltd. Third Quarter Report 2019
||||
|-|-|-|
|Reinsurance premium|||
|Taxes and surcharges|174,900,799.11|218,378,101.09|
|Selling and distribution expenses|831,600,373.04|791,230,427.82|
|General and administrative|||
||665,908,793.30|655,926,928.42|
|expenses|||
|Research and development|||
||22,714,491.95|3,215,201.91|
|expenses|||
|Financial expenses|541,178,314.67|1,728,306,153.98|
|Including: interest expenses|722,542,274.70|916,801,457.83|
|Interest incomes|216,779,712.65|108,801,680.36|
|Add: Other incomes|62,516,500.00|63,413,797.03|
|Income on investment ("-" for loss)|25,907.49|3,493,150.68|
|Including: Income from associates and|||
|joint ventures|||
|Income from derecognition|||
|of financial assets measured at amortised cost|||
|("-" for loss)|||
|Exchange Income ("-" for loss)|||
|Hedging income from net exposure (“-"|||
|for loss)|||
|Gains from the change in fair value (“-"|||
|for loss)|||
|Expected credit losses (“-" for loss)|5,844,635.28||
|Asset impairment losses (“-" for loss)||27,739,483.80|
|Assets disposal gains（“-” for loss）|2,997,921.07|1,109,667.33|
|6. Operating profit ("-" for loss)|572,621,928.50|842,118,384.52|
|Add: Non-operating income|9,716,506.42|2,298,854.73|
|Less: Non-operating expenses|64,095,275.68|1,963,486.59|
|7. Total profit ("-" for loss)|518,243,159.24|842,453,752.66|
|Less: Income tax expenses|30,866,681.63|16,818,346.16|
|8. Net Profit ("-" for loss)|487,376,477.61|825,635,406.50|
|(3) Classification by continuing|||
|operating|||
|1 Net profit from continuing|||
||487,376,477.61|825,635,406.50|
|operation|||
|2 Net profit from discontinued|||

Bengang Steel Plates Co., Ltd. Third Quarter Report 2019
||||
|-|-|-|
|operation|||
|(4) Classification by ownership|||
|1 Net profit attributable to the|||
||487,439,246.88|825,182,211.60|
|owners of parent company|||
|2 Net profit attributable to non-|||
||-62,769.27|453,194.90|
|controlling shareholders|||
|6. Other comprehensive income after tax|||
|Other comprehensive income attributable to|||
|owners of parent company after tax|||
|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 net|||
|assets|||
|(2) . Other comprehensive income|||
|under the equity method cannot be reclassified|||
|into profit or loss|||
|(3). Changes of fair value of other|||
|equity instrument investments|||
|(4). Changes in the fair value of|||
|the company's own credit risk|||
|(5). Others|||
|2) Other comprehensive income that will|||
|be reclassified into profit or loss|||
|(1) . Other comprehensive income|||
|under the equity method can be reclassified|||
|into profit or loss|||
|(2). Gains and losses from fair|||
|value changes of other debt investments|||
|(3). Gains and losses from fair|||
|value changes of available-for-sale financial|||
|assets|||
|(4). Gains and losses resulting|||
|from reclassification of financial assets|||
|recognised in other comprehensive income|||
|(5). Gains and losses from|||
|reclassification of held-to-maturity|||
|investments to available-for-sale investments|||
|(6). Credit impairment losses of|||

Bengang Steel Plates Co., Ltd. Third Quarter Report 2019
||||
|-|-|-|
|other debt investments|||
|(7). Effective portion of gains or|||
|losses from cash flow hedging|||
|(8). Translation differences in|||
|foreign currency financial statements|||
|(9). Others|||
|Other comprehensive income attributable to|||
|non-controlling shareholders after tax|||
|7. Total comprehensive income|487,376,477.61|825,635,406.50|
|Total comprehensive income attributable|||
||487,439,246.88|825,182,211.60|
|to owners of parent company|||
|Total comprehensive income attributable|||
||-62,769.27|453,194.90|
|to non-controlling shareholders|||
|8. Earnings per share:|||
|1) Basic earnings per share|0.13|0.21|
|2) Diluted earnings per share|0.13|0.21|

 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 Person in charge of accounting: Shen Qiang Accounting Dept. Leader: Zhao Zhonghua
6. STATEMENT OF COMPREHENSIVE INCOME OF THE PARENT COMPANY FROM THE BEGINNING OF THE YEAR TO THE END OF THE CURRENT REPORTING PERIOD
Unit: Yuan
||||
|-|-|-|
|Items|The Current Period|The Previous Period|
|1. Total operating income|38,014,203,689.59|36,668,559,494.02|
|Less: Operating cost|35,782,055,553.61|33,019,136,503.31|
|Taxes and surcharges|133,935,663.72|192,669,833.48|
|Selling and distribution expenses|482,893,940.32|440,779,566.79|
|General and administrative expenses|624,372,438.11|619,992,907.29|
|Research and development expenses|22,714,491.95|3,215,201.91|
|Financial expenses|515,337,847.93|1,687,162,319.17|
|Including: interest expenses|679,030,224.93|870,205,608.54|
|Interest incomes|199,185,818.03|103,955,252.77|
|Add: Other incomes|62,516,500.00|63,413,797.03|
|Income on investment ("-" for loss)|27,594,915.42|3,493,150.68|

Bengang Steel Plates Co., Ltd. Third Quarter Report 2019
||||
|-|-|-|
|Including: Income from associates and|||
|joint ventures|||
|Income from derecognition|||
|of financial assets measured at amortised cost|||
|("-" for loss)|||
|Hedging income from net exposure (“-"|||
|for loss)|||
|Gains from the change in fair value (“-"|||
|for loss)|||
|Expected credit losses (“-" for loss)|4,996,635.28||
|Asset impairment losses (“-" for loss)||27,739,483.80|
|Assets disposal gains（“-” for loss）|3,044,923.32|1,109,667.33|
|2. Operating profit ("-" for loss)|551,046,727.97|801,359,260.91|
|Add: Non-operating income|9,279,999.48|1,840,469.10|
|Less: Non-operating expenses|64,051,443.56|1,957,950.91|
|3. Total profit ("-" for loss)|496,275,283.89|801,241,779.10|
|Less: Income tax expenses|15,830,148.17|7,384,717.21|
|4. Net Profit ("-" for loss)|480,445,135.72|793,857,061.89|
|(1) Net profit from continuing operation|||
||480,445,135.72|793,857,061.89|
|("-" for loss)|||
|(2) Net profit from discontinued operation|||
|("-" for loss)|||
|5. Other comprehensive income after tax|||
|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 net|||
|assets|||
|(2) . Other comprehensive income|||
|under the equity method cannot be reclassified|||
|into profit or loss|||
|(3). Changes of fair value of other|||
|equity instrument investments|||
|(4). Changes in the fair value of|||
|the company's own credit risk|||
|(5). Others|||
|2) Other comprehensive income that will|||
|be reclassified into profit or loss|||

Bengang Steel Plates Co., Ltd. Third Quarter Report 2019
||||
|-|-|-|
|(1) . Other comprehensive income|||
|under the equity method can be reclassified|||
|into profit or loss|||
|(2). Gains and losses from fair|||
|value changes of other debt investments|||
|(3). Gains and losses from fair|||
|value changes of available-for-sale financial|||
|assets|||
|(4). Gains and losses resulting|||
|from reclassification of financial assets|||
|recognised in other comprehensive income|||
|(5). Gains and losses from|||
|reclassification of held-to-maturity|||
|investments to available-for-sale investments|||
|(6). Credit impairment losses of|||
|other debt investments|||
|(7). Effective portion of gains or|||
|losses from cash flow hedging|||
|(8). Translation differences in|||
|foreign currency financial statements|||
|(9). Others|||
|6. Total comprehensive income|480,445,135.72|793,857,061.89|
|7. Earnings per share:|||
|1) Basic earnings per share|||
|2) Diluted earnings per share|||

7. CONSOLIDATED STATEMENT OF CASH FLOWS FROM THE BEGINNING OF THE YEAR TO THE END OF THE CURRENT PERIOD
Unit: Yuan
||||
|-|-|-|
|Items|The Current Period|The Previous Period|
|1. Cash flow from operating activities:|||
|Cash received from sale of goods orrendering of services|||
||26,790,594,559.41|26,188,229,365.29|
|Net increase of customers’ deposit andinterbank deposit|||
|Net increase of loan from central bank|||
|Net increase of loans from other|||

Bengang Steel Plates Co., Ltd. Third Quarter Report 2019
||||
|-|-|-|
|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 other|||
|financial institutions|||
|Net increase of fund for buy-back|||
|business|||
|Tax rebate received|330,537,134.71|284,799,886.80|
|Other cash received relating to|||
||179,458,663.12|83,617,244.68|
|operating activities|||
|Subtotal of cash inflow received from|||
||27,300,590,357.24|26,556,646,496.77|
|operation activities|||
|Cash paid for goods and services|20,530,964,210.54|17,207,337,978.80|
|Net increase of customer’s loan and|||
|advances|||
|Net increase of deposit in central bank|||
|and interbank deposit|||
|Cash for payment of compensation for|||
|original insurance contract|||
|Cash for payment of interest, handling|||
|charge and commission|||
|Cash for payment of policy bonus|||
|Cash paid to and on behalf of|||
||1,450,655,474.24|1,438,947,941.23|
|employees|||
|Cash paid for all types of taxes|911,658,861.03|618,124,974.18|
|Other cash paid relating to operating|||
||351,573,590.15|358,768,202.58|
|activities|||
|Subtotal of cash outflow received from|||
||23,244,852,135.96|19,623,179,096.79|
|operation activities|||
|Net cash flows generated from operating|4,055,738,221.28|6,933,467,399.98|

Bengang Steel Plates Co., Ltd. Third Quarter Report 2019
||||
|-|-|-|
|activities|||
|2. Cash flows from investing activities:|||
|Cash received from return on|||
|||500,000,000.00|
|investments|||
|Cash received from distribution of|||
|||3,493,150.68|
|dividends or profit|||
|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 inflow received from|||
|||503,493,150.68|
|investing activities|||
|Cash paid for acquisition of fixed|||
|assets, intangible assets and other long-term|843,532,197.66|1,261,912,086.54|
|assets|||
|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|||
|Subtotal of cash outflows from investing|||
||843,532,197.66|1,261,912,086.54|
|activities|||
|The net cash flow generated by investment|||
||-843,532,197.66|-758,418,935.86|
|activities|||
|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|7,482,429,000.00|21,592,058,293.24|
|Other proceeds relating to financing|||
|activities|||
|Subtotal cash inflow received from financing|||
||7,482,429,000.00|25,557,858,281.43|
|activities|||
|Cash repayments of borrowings|6,938,475,606.71|29,751,998,311.55|

Bengang Steel Plates Co., Ltd. Third Quarter Report 2019
||||
|-|-|-|
|Cash payments for distribution of|||
||1,194,142,072.60|1,220,039,424.07|
|dividends, profit or interest expenses|||
|Including: Cash paid to non-controlling|||
|shareholders as dividend and profit by|||
|subsidiaries|||
|Other cash payments relating to|||
|financing activities|||
|Subtotal of cash outflows from financing|||
||8,132,617,679.31|30,972,037,735.62|
|activities|||
|The net cash flow generated by financing|||
||-650,188,679.31|-5,414,179,454.19|
|activities|||
|4. Effect of foreign exchange rate changes on|||
||57,000,333.44|173,516,701.33|
|cash and cash equivalents|||
|5. Net increase in cash and cash equivalents|2,619,017,677.75|934,385,711.26|
|Add: Cash and cash equivalents at the|||
||11,752,548,621.97|12,317,576,778.93|
|beginning of the period|||
|6. Cash and cash equivalents at the ending of|||
||14,371,566,299.72|13,251,962,490.19|
|the period|||

8. STATEMENT OF CASH FLOWS OF THE PARENT COMPANY FROM THE BEGINNING OF THE YEAR TO THE END OF THE CURRENT PERIOD
Unit: Yuan
||||
|-|-|-|
|Items|The Current Period|The Previous Period|
|1.Cash flow from operating activities:|||
|Cash received from sale of goods or|||
||25,300,199,068.22|25,652,120,540.51|
|rendering of services|||
|Tax rebate received|284,437,850.97|119,119,395.04|
|Other cash received relating to|||
||174,941,066.19|80,682,696.51|
|operating activities|||
|Subtotal of cash inflow received from|||
||25,759,577,985.38|25,851,922,632.06|
|operation activities|||
|Cash paid for goods and services|18,900,585,331.92|17,009,484,822.48|
|Cash paid to and on behalf of|||
||1,371,069,525.86|1,372,731,925.30|
|employees|||
|Cash paid for all types of taxes|789,815,447.75|528,120,047.39|
|Other cash paid relating to operating|||
||310,224,763.98|322,705,026.46|
|activities|||

Bengang Steel Plates Co., Ltd. Third Quarter Report 2019
||||
|-|-|-|
|Subtotal of cash outflow received from|||
||21,371,695,069.51|19,233,041,821.63|
|operation activities|||
|Net cash flows generated from operating|||
||4,387,882,915.87|6,618,880,810.43|
|activities|||
|2. Cash flows from investing activities:|||
|Cash received from return on|||
|||500,000,000.00|
|investments|||
|Cash received from distribution of|||
|||3,493,150.68|
|dividends or profit|||
|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 inflow received from|||
|||503,493,150.68|
|investing activities|||
|Cash paid for acquisition of fixed|||
|assets, intangible assets and other long-term|836,697,138.22|1,241,365,059.32|
|assets|||
|Cash paid for acquisition of investments||259,300,000.00|
|Net cash received from subsidiary and|||
|other operating unit|||
|Other cash paid relating to investing|||
|activities|||
|Subtotal of cash outflows from investing|||
||836,697,138.22|1,500,665,059.32|
|activities|||
|The net cash flow generated by investment|||
||-836,697,138.22|-997,171,908.64|
|activities|||
|3. Cash flows from financing activities:|||
|Proceeds from investment||3,965,799,988.19|
|Proceeds from borrowings|6,282,429,000.00|20,515,395,400.00|
|Other proceeds relating to financing|||
|activities|||
|Subtotal cash inflow received from financing|||
||6,282,429,000.00|24,481,195,388.19|
|activities|||
|Cash repayments of borrowings|5,438,545,606.71|28,587,442,043.95|

Bengang Steel Plates Co., Ltd. Third Quarter Report 2019
||||
|-|-|-|
|Cash payments for distribution of|||
||1,112,682,499.61|1,176,598,972.79|
|dividends, profit or interest expenses|||
|Other cash payments relating to|||
|financing activities|||
|Subtotal of cash outflows from financing|||
||6,551,228,106.32|29,764,041,016.74|
|activities|||
|The net cash flow generated by financing|||
||-268,799,106.32|-5,282,845,628.55|
|activities|||
|4. Effect of foreign exchange rate changes on|||
||56,922,645.03|173,504,704.68|
|cash and cash equivalents|||
|5. Net increase in cash and cash equivalents|3,339,309,316.36|512,367,977.92|
|Add: Cash and cash equivalents at the|||
||10,807,824,843.20|12,152,285,550.21|
|beginning of the period|||
|6. Cash and cash equivalents at the ending of|||
||14,147,134,159.56|12,664,653,528.13|
|the period|||

Bengang Steel Plates Co., Ltd. Third Quarter Report 2019 II. Adjustments of Financial Statements
1. Adjustments of beginning balance due to the first-time implementation of the new financial instruments guidelines, new revenue standards, new lease standards
√ Applicable□ Not applicable
CONSOLIDATED STATEMENT OF FINANCIAL POSITION
Unit: yuan
|||||
|-|-|-|-|
|Items|Dec 31st 2018|Jan 1st 2019|Adjustment amount|
|Current assets:||||
|Cash at bank and on hand|16,567,471,755.77|16,567,471,755.77||
|Settlement provisions||||
|Capital lent||||
|Financial assets held for trading||||
|Financial assets at fair value||||
|through profit or loss||||
|Derivative financial assets||||
|Notes receivable|3,580,145,843.38|3,580,145,843.38||
|Accounts receivable|639,482,481.45|639,482,481.45||
|Receivables financing||||
|Prepayments|1,321,537,514.78|1,321,537,514.78||
|Premium receivable||||
|Reinsurance accounts receivable||||
|Receivable deposit for||||
|reinsurance contract||||
|Other receivables:|202,763,964.98|202,763,964.98||
|Including: Interest receivables|11,608,705.43|11,608,705.43||
|Dividend receivables||||
|Redemptory financial assets for||||
|sale||||
|Inventories|10,677,747,112.40|10,677,747,112.40||
|Contract assets||||
|Assets classified as held for sale||||
|Non-current assets due within||||
|one year||||
|Other current assets|292,119,771.13|292,119,771.13||

Bengang Steel Plates Co., Ltd. Third Quarter Report 2019
|||||
|-|-|-|-|
|Total current assets|33,281,268,443.89|33,281,268,443.89||
|Non-current assets:||||
|Loan and advances issued||||
|Debt investments||||
|Available-for-sale financial assets|1,041,824,829.00||-1,041,824,829.00|
|Other debt investments||||
|Held-to-maturity investments||||
|Long-term receivables||||
|Long-term equity investments|2,455,681.55|2,455,681.55||
|Other equity instrument||||
|||1,041,824,829.00|1,041,824,829.00|
|investments||||
|Other non-current financial assets||||
|Investment properties||||
|Fixed assets|23,924,504,539.97|23,924,504,539.97||
|Construction in progress|836,594,457.82|836,594,457.82||
|Productive biological assets||||
|Oil and gas assets||||
|Right of use assets||||
|Intangible assets|278,062,441.04|278,062,441.04||
|Development expenditure||||
|Goodwill||||
|Long-term deferred expenses||||
|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 Liabilities:||||
|Short-term loans|11,938,490,375.85|11,938,490,375.85||
|Loan from central bank||||
|Absorbed deposit and interbank||||
|deposit||||
|Financial liabilities held for||||
|trading||||
|Financial liabilities at fair value||||
|through profit or loss||||

Bengang Steel Plates Co., Ltd. Third Quarter Report 2019
||||
|-|-|-|
|Derivative financial liabilities|||
|Note payables|10,013,192,014.02|10,013,192,014.02|
|Account payables|5,522,042,811.65|5,522,042,811.65|
|Advance from customers|3,331,854,098.42|3,331,854,098.42|
|Financial assets sold for|||
|repurchase|||
|Deposits from customers and|||
|interbank|||
|Acting trading securities|||
|Acting underwriting securities|||
|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 payables|9,658,681.99|9,658,681.99|
|Dividend payables|||
|Handling charges and|||
|commission payable|||
|Reinsurance accounts payable|||
|Contract liabilities|||
|Liabilities held for sale|||
|Non-current liabilities due within|||
||350,965,576.32|350,965,576.32|
|one year|||
|Other current liabilities|||
|Total current liabilities|32,586,274,656.62|32,586,274,656.62|
|Non-current liabilities:|||
|Provision for insurance contract|||
|Long-term loans|7,083,640,094.16|7,083,640,094.16|
|Bonds payable|||
|Including: Preferred stock|||
|Perpetual bond|||
|Lease liabilities|||
|Long-term payables|13,686,705.92|13,686,705.92|
|Long-term employee benefits|||
|payables|||
|Estimated liabilities|||

Bengang Steel Plates Co., Ltd. Third Quarter Report 2019
||||
|-|-|-|
|Deferred income|289,499,002.97|289,499,002.97|
|Deferred tax liabilities|||
|Other non-current liabilities|||
|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 capital|3,875,371,532.00|3,875,371,532.00|
|Other equity instruments|||
|Including: Preferred stock|||
|Perpetual bond|||
|Capital reserves|12,343,209,847.29|12,343,209,847.29|
|Less: treasury shares|||
|Other comprehensive income|||
|Special reserves|683,937.71|683,937.71|
|Surplus reserves|961,105,529.85|961,105,529.85|
|General risk reserves|||
|Undistributed profits|1,945,887,269.82|1,945,887,269.82|
|Total equity attributable to equity|||
||19,126,258,116.67|19,126,258,116.67|
|holders of the parent company|||
|Non-controlling interests|533,146,339.49|533,146,339.49|
|Total shareholder’s equity|19,659,404,456.16|19,659,404,456.16|
|Total liabilities and shareholder’s|||
||59,632,504,915.83|59,632,504,915.83|
|equity|||

Notes:
STATEMENOT OF FINANCIAL POSITION OF THE PARENT COMPANY
Unit: Yuan
|||||
|-|-|-|-|
|Items|Dec 31st 2018|Jan 1st 2019|Adjustment amount|
|Current assets:||||
|Cash at bank and on hand|15,536,305,375.00|15,536,305,375.00||
|Financial assets held for trading||||
|Financial assets at fair value through profit||||
|or loss||||
|Derivative financial assets||||
|Notes receivable|3,356,020,598.89|3,356,020,598.89||
|Accounts receivable|409,553,059.27|409,553,059.27||

Bengang Steel Plates Co., Ltd. Third Quarter Report 2019
|||||
|-|-|-|-|
|Receivables financing||||
|Prepayments|1,309,194,738.97|1,309,194,738.97||
|Other receivables|235,037,391.46|235,037,391.46||
|Including: Interest receivables|9,815,280.04|9,815,280.04||
|Dividend receivables||||
|Inventories|8,681,362,081.72|8,681,362,081.72||
|Contract assets||||
|Assets classified as held for sale||||
|Non-current assets due within one year||||
|Other current assets|193,989,096.20|193,989,096.20||
|Total current assets|29,721,462,341.51|29,721,462,341.51||
|Non-current assets:||||
|Debt investments||||
|Available-for-sale financial assets|1,041,624,829.00||-1,041,624,829.00|
|Other debt investments||||
|Held-to-maturity investment||||
|Long-term receivables||||
|Long-term equity investments|2,016,281,902.16|2,016,281,902.16||
|Other equity instrument investments||1,041,624,829.00|1,041,624,829.00|
|Other non-current financial assets||||
|Investment properties||||
|Fixed assets|22,035,187,328.57|22,035,187,328.57||
|Construction in progress|825,553,510.15|825,553,510.15||
|Productive biological assets||||
|Oil and gas assets||||
|Right of use assets||||
|Intangible assets|148,776,177.96|148,776,177.96||
|Development expenditure||||
|Goodwill||||
|Long-term deferred expenses||||
|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 assets|26,239,985,726.19|26,239,985,726.19||
|Total assets|55,961,448,067.70|55,961,448,067.70||

Bengang Steel Plates Co., Ltd. Third Quarter Report 2019
||||
|-|-|-|
|Current Liabilities:|||
|Short-term loans|10,624,270,375.85|10,624,270,375.85|
|Financial assets held for trading|||
|Financial liabilities at fair value through|||
|profit or loss|||
|Derivative financial liabilities|||
|Notes payable|9,213,748,427.22|9,213,748,427.22|
|Accounts payable|5,940,816,426.48|5,940,816,426.48|
|Advance from customers|3,189,143,565.45|3,189,143,565.45|
|Contract liabilities|||
|Employee benefits payable|49,378,095.47|49,378,095.47|
|Current tax liabilities|507,003,883.57|507,003,883.57|
|Other payables|538,051,513.13|538,051,513.13|
|Including: Interest payables|7,341,833.33|7,341,833.33|
|Dividend payables|||
|Liabilities held for sale|||
|Non-current liabilities due within one year|350,965,576.32|350,965,576.32|
|Other current liabilities|||
|Total current liabilities|30,413,377,863.49|30,413,377,863.49|
|Non-current liabilities:|||
|Long-term loans|7,083,640,094.16|7,083,640,094.16|
|Bonds payable|||
|Including: Preferred stock|||
|Perpetual bond|||
|Lease liabilities|||
|Long-term payables|13,686,705.92|13,686,705.92|
|Long-term employee benefits payable|||
|Estimated liabilities|||
|Deferred incomes|289,499,002.97|289,499,002.97|
|Deferred tax liabilities|||
|Other non-current liabilities|||
|Total non-current liabilities|7,386,825,803.05|7,386,825,803.05|
|Total liabilities|37,800,203,666.54|37,800,203,666.54|
|Shareholders’ equity:|||

Bengang Steel Plates Co., Ltd. Third Quarter Report 2019
||||
|-|-|-|
|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: treasury shares|||
|Other comprehensive income|||
|Special reserves|525,218.48|525,218.48|
|Surplus reserves|961,105,529.85|961,105,529.85|
|Undistributed profits|1,401,183,955.66|1,401,183,955.66|
|Total shareholder’s equity|18,161,244,401.16|18,161,244,401.16|
|Total liabilities and shareholder’s equity|55,961,448,067.70|55,961,448,067.70|

Notes:
2. Retroactive adjustment due to the first time implementation of the new financial instruments guidelines and new lease standards
□ Applicable√ Not applicable
III. Audit report
Whether the third quarter report is audited
□ Yes√ No
The third quarter report is not audited.