Bengang Steel Plates Co., Ltd. The 1st Quarterly Report 2016 (Full Text) Bengang Steel Plates Co., Ltd.
st
The 1 Quarterly Report 2016
April 2016
Bengang Steel Plates Co., Ltd. The 1st Quarterly Report 2016 (Full Text) Chapter I. Important Statement
The Board of Directors and the directors of the Company guarantee that there are no significant omissions, fictitious or misleading statements carried in the Report and we will accept individual and joint responsibilities for the truthfulness, accuracy and completeness of the Report.
All of the directors presented the board meeting at which this Quarterly Report was examined.
Chairman of the Board– Mr. Zhao Zhongmin, Chief Financial Officer– Mr. Han Ge, and Head of Accounting Dept.– Mr. Wang Shaoyu hereby declare: the authenticity and integrality of the report are guaranteed.
Bengang Steel Plates Co., Ltd. The 1st Quarterly Report 2016 (Full Text) II. Main financial data and changes of shareholders
（1）Main financial data and financial index
Whether it has retroactive adjustment or re-statement on previous accounting data for accounting policy changed and accounting error correction or not.
□ Yes√ No
|||||
|-|-|-|-|
||||Changes of this period over|
||This period|Same period of last year|same period of last year|
||||（％）|
|Operating income（RMB）|6,163,797,202.21|9,571,892,099.49|-35.61%|
|Net profit attributable to the shareholders|41,106,090.36|71,707,881.99||
||||-42.68%|
|of the listed company（RMB）||||
|Net profit after deducting of non-recurring||||
|gain/loss attributable to the shareholders of|34,751,636.45|52,169,643.70|-33.39%|
|listed company（RMB）||||
|Cash flow generated by business operation,|2,598,490,197.76|601,173,782.82||
||||332.24%|
|net（RMB）||||
|Basic earning per share(RMB/Share)|0.013|0.023|-43.48%|
|Diluted gains per|0.013|0.023||
||||-43.48%|
|share(RMB/Share)(RMB/Share)||||
|Weighted average return on equity||||
||0.34%|0.46%|-0.12%|
|（%）||||
||||Changes of this period-end|
||End of this period|End of last period|over same period-end of last|
||||year(%)|
|Gross assets（RMB）|47,685,280,386.51|44,461,643,345.33|7.25%|
|Net assets attributable to the shareholders|11,978,750,747.00|11,934,100,372.02||
||||0.37%|
|of the listed company（RMB）||||

Items and amount of non-current gains and losses
√ Applicable□ Not applicable
In RMB
||||
|-|-|-|
||Amount (Year-beginning to||
|Items||Notes|
||the end of the report period.)||
|Govemment subsidy recognized in current gain and|||
||6,259,000.00||
|loss(excluding those closely related to the Company’s business|||

Bengang Steel Plates Co., Ltd. The 1st Quarterly Report 2016 (Full Text)
||||
|-|-|-|
|and granted under the state’s policies)|||
|Other non-operating income and expenditure beside for the above|||
||125,914.32||
|items|||
|Amount of influence of minority interests（After tax）|30,460.41||
|Total|6,354,453.91|--|

For theCompany’s non-recurring gain/loss items as defined in the Explanatory Announcement No.1 on information disclosure for Companies Offering their Securities to the Public-Non-recurring Gains and Losses and its non-recurring gain/loss items as illustrated in the Explanatory Announcement No.1 on information Disclosure for Companies offering their securities to the public-non-recurring Gains and losses which have been defined as recurring gains and losses, it is necessary to explain the reason.
□Applicable√ Not applicable
None of Non-recurring gain /loss items recognized as recurring gain /loss/items as defined by the information disclosure explanatory Announcement No.1- Non–recurring gain/loss in the report period.
Bengang Steel Plates Co., Ltd. The 1st Quarterly Report 2016 (Full Text) II. Total Shareholders and Shares Held by Top Ten Shareholders at the End of the Reporting Period
1. About Total Common Shareholders, Total Preference Shareholders with the Voting Power Recovered and the Shares Held by Top Ten Common Shareholders
In shares
||||||||||
|-|-|-|-|-|-|-|-|-|
|||||Total preference shareholders|||||
|Total number of common||||with the voting power|||||
|||56,985|||||0||
|shareholders at the period-end||||recovered at the end of the|||||
|||||reporting period(if any)|||||
|Shares held by the top 10 shareholders|||||||||
||||||Amount of|Pledging or freezing|||
||Properties of|Share|||tradable shares||||
|Shareholder name|||Quantity|||Status of the|||
||shareholder|proportion %|||with Conditional|||Quantity|
|||||||shares|||
||||||held||||
|Benxi Steel (Group)Ltd.|State-owned legalperson|78.37%|2,457,560,978||||||
|Li Guoyuan|Domestic naturalperson|0.82%|25,762,691||||||
|Li Chen|Domestic naturalperson|0.82%|25,762,538||||||
|GIC PRIVATELIMITED|Overseas legalperson|0.31%|9,754,211||||||
|BBH A/CVANGUARDEMERGINGMARKETSSTOCK INDEXFUND|Overseas legalperson|0.26%|8,157,311||||||
|ZhanChangcheng|Domestic naturalperson|0.15%|4,648,615||||||
|VANGUARDTOTALINTERNATIONAL STOCKINDEX FUND|Overseas legalperson|0.15%|4,606,141||||||
|Feng Meijuan|Domestic naturalperson|0.15%|4,592,983||||||
|Wu Limin|Domestic naturalperson|0.14%|4,255,663||||||

Bengang Steel Plates Co., Ltd. The 1st Quarterly Report 2016 (Full Text)
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|-|-|-|-|-|-|
|Zhou Jie|Domestic naturalperson|0.14%|4,249,198|||
|Shares held by the Top 10 Shareholders of Non-restricted shares||||||
|||||Share type||
|Shareholders’ Names||Number of the non-restricted shares held||||
|||||Share type|Quantity|
|Benxi Steel (Group) Ltd.||2,457,560,978||RMB Common||
||||||2,457,560,978|
|||||shares||
|Li Guoyuan||25,762,691||RMB Common||
||||||25,762,691|
|||||shares||
|Li Chen||25,762,538||RMB Common||
||||||25,762,538|
|||||shares||
|GIC PRIVATE LIMITED||9,754,211||Foreign shares||
|||||placed in||
||||||9,754,211|
|||||domestic||
|||||exchange||
|BBH A/C VANGUARDEMERGING MARKETS STOCKINDEX FUND||8,157,311||Foreign shares||
|||||placed in||
||||||8,157,311|
|||||domestic||
|||||exchange||
|Zhan Changcheng||4,648,615||Foreign shares||
|||||placed in||
||||||4,648,615|
|||||domestic||
|||||exchange||
|VANGUARD TOTALINTERNATIONAL STOCK INDEXFUND||4,606,141||Foreign shares||
|||||placed in||
||||||4,606,141|
|||||domestic||
|||||exchange||
|Feng Meijuan||4,592,983||RMB Common||
||||||4,592,983|
|||||shares||
|Wu Limin||4,255,663||RMB Common||
||||||4,255,663|
|||||shares||
|Zhou Jie||4,249,198|||4,249,198|
|||Benxi Steel & Iron (Group) Co., Ltd., the holding shareholder, has no relationship with any of the other||||
|||shareholders among the top 10 shareholders, neither being regarded as action-in-concert parties by the||||
|Explanation on associated||||||
|||Information Disclosure Regulations for Change of Shareholding in PLC||||
|||The Company is not aware of any relationship among the other shareholders, nor of any action-in-concert as||||
|relationship or concerted action of||||||
|||recognized according to the Information Disclosure Regulations for Change of Shareholding in PLC.||||
|||The Company is not aware of any relationship among the top 10 shareholders, nor of any action-in-concert as||||
|the above shareholders||||||
|||recognized according to the Information Disclosure Regulations for Change of Shareholding in PLC.||||
|Note to the top 10 common||Li Guoyuan holds 25,762,691 A shares of the Company through stock account with credit||||
|stockholders involved in margin||transaction and guarantee, Li Chen holds 25,762,538 A shares of the Company through stock||||
|financing & securities lending (If||account with credit transaction and guarantee.||||

Bengang Steel Plates Co., Ltd. The 1st Quarterly Report 2016 (Full Text)
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|-|
|any)|

Whether top ten common shareholders or top ten common shareholders with un-restrict shares held have a buy-back agreement dealing in reporting period.
□ Yes√ No
The top ten common shareholders or top ten common shareholders with un-restrict shares held of the Company have no buy–back agreement dealing in reporting period.
2.Total number of preferred shareholders and shareholding of top 10 preferred shareholders by the end of the report period
□ Applicable√Not applicable
Bengang Steel Plates Co., Ltd. The 1st Quarterly Report 2016 (Full Text) III. Significant Events
I. Particular about large-margin change of main accounting statement item and financial index and its reason.√ Applicable□ Not applicable
Major items in the consolidated statements which changed by over30% comparing with the balances at of the end of 2015
||||
|-|-|-|
|I.Balance sheet items|Rate of change|Cause of change|
|Monetary fund|59%|Due to the increase of the companycurrent reserves|
|Interest receivable|-100%|Due to the current maturity date.|
|Other account receivable|-33%|Due to the increase of currentaccount receivable recovery|
|Account payable|56%|Due to the current increase inaccounts payable|
|Tax payable|-67%|Due to the reduction of VAToverpaid|
|Interest payable|-64%|Due to the reduction of the interestaccrual of corporate bonds|
|Special reserves|901%|Due to the reduction security feepaid for the current period|

* Major items in the consolidated statements which changed by over30% comparing with that of Jan-Mar 2015
||||
|-|-|-|
|II. Income statement items|Rate of change|Cause of change|
|Business income|-36%|Due to the current lower prices ofclearing.|
|Business cost|-38%|Due to the current decrease in rawmaterial purchase price|
|Business tax and surcharge|-76%|Due to the reduction of the impactcaused by the current VAT|
|Financial expenses|-36%|Due to the increase of the currentloan interest rate and exchange rategains and losses declined|
|Non-operational income|-72%|Due to the reduction of funds ofgovernment grants received in thecurrent period|
|Income tax expenses|1372%|Due to the provision for inventorydepreciation of reversal of thecurrent period|
|Net profit attributable to the ownersof parent company|-43%|Due to the reduction of the currentmarket price and other factors|

Bengang Steel Plates Co., Ltd. The 1st Quarterly Report 2016 (Full Text)
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|-|-|-|
|Minor shareholders’ equity|-80%|Due to the decrease of the currentholding company profits|
|III. Cash flow statement|Rate of change|Cause of change|
|Cash received from sales of goodsor rending of services|-44%|Due to the reduction of the currentmarket price and other factors|
|Sub-total of cash inflow generatedby business operation|-42%|Due to the reduction of the currentmarket price and other factors|
|Cash paid for purchasing ofmerchandise and services|-78%|Due to the reduction of the currentpurchase of goods, services paid forin cash accepted|
|Taxes paid|-35%|Due to the reduction of the currentVAT and other taxes paid|
|Sub-total of cash outflow frombusiness activities|-72%|Due to the reduction of the currentpurchase of goods, services paid forin cash accepted|
|Cash flow generated by businessoperation, net|332%|Due to the reduction of the currentpurchase of goods, services paid forin cash accepted|
|Cash received from investmentretrieving|-100%|Decrease of financial instrumentspurchased this period|
|Cash received as investment gains|-100%|Decrease of financial instrumentspurchased this period|
|Sub-total of cash inflow due toinvestment activities|-100%|Decrease of financial instrumentspurchased this period|
|Cash paid as investment|-96%|Decrease of financial instrumentspurchased this period|
|Sub-total of cash outflow due toinvestment activities|-68%|Decrease of financial instrumentspurchased this period|
|Net cash flow generated by investment|-46%|Decrease of financial instrumentspurchased this period|
|Cash received from bond placing|-100%|Due to not issuance of bonds.|
|Sub-total of cash inflow from financingactivities|-33%|Due to not issuance of bonds.|
|Net cash flow generated by financing|-52%|Due to the reduction of the current periodnew financing|

II. The progress of significant events and influence, as well as the analysis and explanation on
resolving proposal.
□ Applicable√Not applicable
Bengang Steel Plates Co., Ltd. The 1st Quarterly Report 2016 (Full Text) III. Commitments finished in implementation by the Company, shareholders, actual controller, acquirer, directors, supervisors, senior executives or other related parties in the reporting period and commitments unfinished in implementation at the end of the reporting period
□ Applicable√Not applicable
During the reporting period, there is no commitment that the company, shareholders, actual controller, offer or, directors, supervisors, senior management or other related parties have fulfilled during the reporting period and have not yet fulfilled by the end of reporting period.
IV. Anticipation of Business Performance from January to June, 2016
Alert of loss or significant change in net profit from the beginning of year to the end of next report period or comparing with the same period of last year, and statement of causations.
□ Applicable√Not applicable
V Securities investments
□ Applicable√ Not applicable
No such cases in the Reporting Period
VI. Investment in derivatives
□ Applicable√Not applicable
No such cases in the Reporting Period
VII. Reception of investigations, communications, or interviews
□ Applicable√Not applicable
No investigation, communication, or visiting occurred in report period.
VIII. External guarantee get out of line
□ Applicable√Not applicable
The Company has no external guarantee get out of the line in the Period
IX. Controlling shareholder and its related parties occupying non-business capital of the listed company□ Applicable√Not applicable
There are no controlling shareholder and its related parties occupying non-business capital of the listed company in Period
Bengang Steel Plates Co., Ltd. The 1st Quarterly Report 2016 (Full Text) IV. Financial Statement
I. Financial statement
1. Consolidated balance sheet
Preparedby：Bengang Steel Plates Co., Ltd.
March 31,2016
In RMB
||||
|-|-|-|
|Items|At the end of term|Beginning of term|
|Current asset：|||
|Monetary fund|8,185,319,102.34|5,140,480,509.97|
|Settlement provision|||
|Outgoing call loan|||
|Financial assets measured at fair|||
|value with variations accounted into|||
|current income account|||
|Derivative financial assets|||
|Bill receivable|2,183,614,447.39|2,449,682,561.16|
|Account receivable|423,836,338.77|488,584,624.72|
|Prepayments|419,544,913.95|569,851,950.69|
|Insurance receivable|||
|Reinsurance receivable|||
|Provisions of Reinsurance contracts|||
|receivable|||
|Interest receivable||3,524,615.12|
|Dividend receivable|||
|Other account receivable|102,174,529.75|151,668,877.26|
|Repurchasing of financial assets|||
|Inventories|9,698,107,421.73|8,601,734,442.42|
|Assets held for sales|||
|Non-current asset due in 1 year|||
|Other current asset|353,646,344.39|431,360,541.21|
|Total of current assets|21,366,243,098.32|17,836,888,122.55|

Bengang Steel Plates Co., Ltd. The 1st Quarterly Report 2016 (Full Text)
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|-|-|-|
|Non-current assets：|||
|Loans and payment on other’s behalf|||
|disbursed|||
|Disposable financial asset|20,271,278.63|20,271,278.63|
|Expired investment in possess|||
|Long-term receivable|||
|Long term share equity investment|||
|Property investment|||
|Fixed assets|19,572,168,737.90|20,046,254,726.74|
|Construction in progress|5,926,666,614.41|5,646,624,293.27|
|Engineering material|4,134,139.91|4,152,880.79|
|Fixed asset disposal|||
|Production physical assets|||
|Gas & petrol|||
|Intangible assets|264,036,148.28|265,520,912.57|
|R & D petrol|||
|Goodwill|||
|Long-germ expenses to be amortized|||
|Deferred income tax asset|531,760,369.06|641,931,130.78|
|Other non-current asset|||
|Total of non-current assets|26,319,037,288.19|26,624,755,222.78|
|Total of assets|47,685,280,386.51|44,461,643,345.33|
|Current liabilities|||
|Short-term loans|18,942,494,796.60|18,139,885,596.60|
|Loan from Central Bank|||
|Deposit received and hold for others|||
|Call loan received|||
|Financial liabilities measured at fair|||
|value with variations accounted into|||
|current income account|||
|Derivative financial liabilities|||
|Bill payable|1,552,659,570.32|2,110,511,950.79|
|Account payable|7,830,122,394.95|5,015,900,664.47|
|Advance payment|2,008,056,087.93|1,815,443,452.05|
|Selling of repurchased financial assets|||

Bengang Steel Plates Co., Ltd. The 1st Quarterly Report 2016 (Full Text)
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|-|-|-|
|Fees and commissions receivable|||
|Employees’ wage payable|35,513,217.27|36,455,143.76|
|Tax payable|14,918,297.59|45,194,528.35|
|Interest payable|25,390,890.87|70,958,686.96|
|Dividend payable|||
|Other account payable|386,412,532.18|444,734,704.90|
|Reinsurance fee payable|||
|Insurance contract provision|||
|Entrusted trading of securities|||
|Entrusted selling of securities|||
|Liabilities held for sales|||
|Non-current liability due in 1 year|1,376,147,332.04|1,434,004,649.14|
|Other current liability|||
|Total of current liability|32,171,715,119.75|29,113,089,377.02|
|Non-current liabilities：|||
|Long-term loan|1,125,848,419.58|1,005,919,974.09|
|Bond payable|1,491,315,715.94|1,490,352,572.75|
|Including：preferred stock|||
|Sustainable debt|||
|Long-term payable|||
|Long-term payable employees’s|||
|remuneration|||
|Special payable|||
|Expected liabilities|||
|Deferred income|406,929,000.00|413,188,000.00|
|Deferred income tax liability|||
|Other non-current liabilities|||
|Total non-current liabilities|3,024,093,135.52|2,909,460,546.84|
||35,195,808,255.27|32,022,549,923.86|
|Total of liability|||
|Owners’ equity|||
||3,136,000,000.00|3,136,000,000.00|
|Share capital|||
|Other equity instrument|||
|Including：preferred stock|||
|Sustainable debt|||

Bengang Steel Plates Co., Ltd. The 1st Quarterly Report 2016 (Full Text)
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|-|-|-|
|Capital reserves|9,114,845,542.05|9,114,845,542.05|
|Less：Shares in stock|||
|Other comprehensive income|||
|Special reserves|3,937,656.67|393,372.05|
|Surplus reserves|961,105,529.85|961,105,529.85|
|Common risk provision|||
||-1,237,137,981.57|-1,278,244,071.93|
|Undistributed profit|||
|Total of owner’s equity belong to the|||
||11,978,750,747.00|11,934,100,372.02|
|parent company|||
|Minority shareholders’ equity|510,721,384.24|504,993,049.45|
|Total of owners’ equity|12,489,472,131.24|12,439,093,421.47|
|Total of liabilities and owners’ equity|47,685,280,386.51|44,461,643,345.33|

 Legal Representative: Zhao Zhongmin Person in charge ofaccounting：Han Ge Accounting Dept Leader:Wang Shaoyu
2.Parent Company Balance Sheet
In RMB
||||
|-|-|-|
|Items|At the end of term|Beginning of term|
|Current asset：|||
|Monetary fund|7,909,868,523.73|4,921,089,319.57|
|Financial assets measured at fair value|||
|with variations accounted into current|||
|income account|||
|Derivative financial assets|||
|Bill receivable|1,988,953,639.71|2,298,691,410.40|
|Account receivable|389,666,035.36|449,193,422.02|
|Prepayments|399,246,002.29|549,553,039.03|
|Interest receivable||3,524,615.12|
|Dividend receivable|||
|Other account receivable|157,046,352.38|229,428,159.94|
|Inventories|8,402,893,318.85|7,452,873,949.34|
|Assets held for sales|||
|Non-current asset due in 1 year|||
|Other current asset|290,607,949.78|387,259,423.54|

Bengang Steel Plates Co., Ltd. The 1st Quarterly Report 2016 (Full Text)
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|-|-|-|
|Total of current assets|19,538,281,822.10|16,291,613,338.96|
|Non-current assets：|||
|Disposable financial asset|18,303,673.00|18,303,673.00|
|Expired investment in possess|||
|Long-term receivable|||
|Long term share equity investment|1,700,981,902.16|1,700,981,902.16|
|Property investment|||
|Fixed assets|16,789,289,702.82|17,179,043,906.45|
|Construction in progress|5,925,739,832.98|5,646,077,292.11|
|Engineering material|4,134,139.91|4,134,138.91|
|Fixed asset disposal|||
|Production physical assets|||
|Gas & petrol|||
|Intangible assets|157,868,055.50|158,694,589.82|
|R & D petrol|||
|Goodwill|||
|Long-germ expenses to be amortized|||
|Deferred income tax asset|453,626,824.72|562,072,018.42|
|Other non-current asset|||
|Total of non-current assets|25,049,944,131.09|25,269,307,520.87|
|Total of assets|44,588,225,953.19|41,560,920,859.83|
|Current liabilities|||
|Short-term loans|17,460,822,800.00|16,798,213,600.00|
|Financial liabilities measured at fair|||
|value with variations accounted into|||
|current income account|||
|Derivative financial liabilities|||
|Bill payable|1,374,839,487.55|1,651,808,822.92|
|Account payable|8,068,076,680.67|5,263,012,477.37|
|Advance payment|1,795,889,792.47|1,957,484,054.73|
|Employees’ wage payable|33,718,815.22|34,194,188.88|
|Tax payable|2,467,003.85|9,986,022.56|
|Interest payable|24,275,033.03|70,113,698.63|
|Dividend payable|||
|Other account payable|306,426,511.71|324,906,037.82|

Bengang Steel Plates Co., Ltd. The 1st Quarterly Report 2016 (Full Text)
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|-|-|-|
|Classified as held for sale debt|||
|Non-current liability due in 1 year|1,376,147,332.04|1,434,004,649.14|
|Other current liability|||
|Total of current liability|30,442,663,456.54|27,543,723,552.05|
|Non-current liabilities：|||
|Long-term loan|1,125,848,419.58|1,005,919,974.09|
|Bond payable|1,491,315,715.94|1,490,352,572.75|
|Including：preferred stock|||
|Sustainable debt|||
|Long-term payable|||
|Long-term payable to employees|||
|Special payable|||
|Expected liabilities|||
|Deferred income|406,929,000.00|413,188,000.00|
|Deferred income tax liability|||
|Other non-current liabilities|||
|Total of Non-current liabilities|3,024,093,135.52|2,909,460,546.84|
|Total of liability|33,466,756,592.06|30,453,184,098.89|
|Owners’ equity|||
|Share capital|3,136,000,000.00|3,136,000,000.00|
|Other equity instrument|||
|Including：preferred stock|||
|Sustainable debt|||
|Capital reserves|8,694,693,859.93|8,694,693,859.93|
|Less：Shares in stock|||
|Other comprehensive income|||
|Special reserves|3,937,656.67|393,372.05|
|Surplus reserves|961,105,529.85|961,105,529.85|
|Undistributed profit|-1,674,267,685.32|-1,684,456,000.89|
|Total of owners’ equity|11,121,469,361.13|11,107,736,760.94|
|Total of liabilities and owners’ equity|44,588,225,953.19|41,560,920,859.83|

 3.Consolidated Income statement
In RMB
Bengang Steel Plates Co., Ltd. The 1st Quarterly Report 2016 (Full Text)
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|-|-|-|
|Items|Amount in this period|Amount in last period|
|I. Income from the key business|6,163,797,202.21|9,571,892,099.49|
|Incl：Business income|6,163,797,202.21|9,571,892,099.49|
|Interest income|||
|Insurance fee earned|||
|Fee and commission received|||
|II. Total business cost|6,009,165,031.97|9,488,432,136.18|
|Incl：Business cost|5,389,535,280.17|8,651,587,783.26|
|Interest expense|||
|Fee and commission paid|||
|Insurance discharge payment|||
|Net claim amount paid|||
|Insurance policy dividend paid|||
|Insurance policy dividend paid|||
|Reinsurance expenses|||
|Business tax and surcharge|6,347,694.24|26,823,125.71|
|Sales expense|203,842,519.34|250,933,920.68|
|Administrative expense|174,510,134.26|189,206,117.29|
|Financial expenses|234,929,403.96|369,881,189.24|
|Asset impairment loss|||
|Add：Gains from change of fir value|||
|（“-”for loss）|||
|Investment gain（“-”for loss）||2,452,534.28|
|Incl: investment gains from affiliates|||
|Gains from currency exchange（“-”for|||
|loss）|||
|III. Operational profit（“-”for loss）|154,632,170.24|85,912,497.59|
|Add ：Non-operational income|6,384,914.32|22,808,626.08|
|Including：Income from disposal of|||
|non-current assets|||
|Less：Non business expenses||6,603.93|
|Incl：Loss from disposal of non-current|||
|||6,603.93|
|assets|||
|IV.Total profit(“-”for loss)|161,017,084.56|108,714,519.74|

Bengang Steel Plates Co., Ltd. The 1st Quarterly Report 2016 (Full Text)
||||
|-|-|-|
|Less：Income tax expenses|114,182,659.41|7,758,744.70|
|V. Net profit|46,834,425.15|100,955,775.04|
|Net profit attributable to the owners of|||
||41,106,090.36|71,707,881.99|
|parent company|||
|Minority shareholders’ equity|5,728,334.79|29,247,893.05|
|VI. Other comprehensive income|||
|Net of profit of other comprehensive inco|||
|me attributable to owners of the parent co|||
|mpany.|||
|（I）Other comprehensive income items|||
|that will not be reclassified into|||
|gains/losses in the subsequent accounting|||
|period|||
|1.Re-measurement of defined benefit pla|||
|ns of changes in net debt or net assets|||
|2.Other comprehensive income under the|||
|equity method investee can not be reclass|||
|ified into profit or loss.|||
|（II）|||
|Other comprehensive income that will be|||
|reclassified into profit or loss.|||
|1.Other comprehensive income under the|||
|equity method investee can be reclassifie|||
|d into profit or loss.|||
|2.Gains and losses from changes in fair v|||
|alue available for sale financial assets|||
|3.Held-to-maturity investments reclassifi|||
|ed to gains and losses of available for sal|||
|e financial assets|||
|4.The effective portion of cash flow hedg|||
|es and losses|||
|5.Translation differences in currency fina|||
|ncial statements|||
|6.Other|||
|Net of profit of other comprehensive inco|||
|me attributable to Minority shareholders’|||
|equity|||
|VII. Total comprehensive income|46,834,425.15|100,955,775.04|

Bengang Steel Plates Co., Ltd. The 1st Quarterly Report 2016 (Full Text)
||||
|-|-|-|
|Total comprehensive income attributable|41,106,090.36||
|||71,707,881.99|
|to the owner of the parent company|||
|Total comprehensive income|5,728,334.79||
|||29,247,893.05|
|attributable minority shareholders|||
|VIII. Earnings per share|||
|（I）Basic earnings per share|0.013|0.023|
|(II)Diluted earnings per share|0.013|0.023|

 If there are entities merged under common control, their net profit realized before the merger were totaled to RMB0.00. While it was RMB0.00 previous period.
Legal Representative:Zhao Zhongmin Person in charge ofaccounting：Han Ge Accounting Dept Leader:Wang Shaoyu
4. Income statement of the Parent Company
In RMB
||||
|-|-|-|
|Items|Amount in this period|Amount in last period|
|I. Income from the key business|6,349,888,059.09|10,041,262,488.32|
|Less：Business cost|5,686,530,851.21|9,347,835,662.54|
|Business tax and surcharge|2,581,022.77|24,171,920.65|
|Sales expense|169,910,631.40|213,032,363.48|
|Administrative expense|159,071,749.26|174,078,341.75|
|Financial expenses|219,438,179.77|346,685,946.85|
|Asset impairment loss|||
|Add：Gains from change of fir value|||
|（“-”for loss）|||
|Investment gain（“-”for loss）||2,452,534.28|
|Incl: investment gains from affiliates|||
|II. Operational profit（“-”for loss）|112,355,624.68|-62,089,212.67|
|Add ：Non-operational income|6,277,884.59|22,648,387.62|
|Including：Income from disposal|||
|of non-current assets|||
|Less：Non business expenses||6,603.93|
|Incl：Loss from disposal of|||
|||6,603.93|
|non-current assets|||
|III.Total profit(“-”for loss)|118,633,509.27|-39,447,428.98|

Bengang Steel Plates Co., Ltd. The 1st Quarterly Report 2016 (Full Text)
||||
|-|-|-|
|Less：Income tax expenses|108,445,193.70||
|IV. Net profit（“-”for net loss）|10,188,315.57|-39,447,428.98|
|V.Net of profit of other comprehensive i|||
|ncome|||
|（I）Other comprehensive income|||
|items that will not be reclassified into|||
|gains/losses in the subsequent|||
|accounting period|||
|1.Re-measurement of defined benefit pl|||
|ans of changes in net debt or net assets|||
|2.Other comprehensive income under th|||
|e equity method investee can not be recl|||
|assified into profit or loss.|||
|（ II ）|||
|Other comprehensive income that will b|||
|e reclassified into profit or loss.|||
|1.Other comprehensive income under th|||
|e equity method investee can be reclassi|||
|fied into profit or loss.|||
|2.Gains and losses from changes in fair|||
|value available for sale financial assets|||
|3.Held-to-maturity investments reclassif|||
|ied to gains and losses of available for s|||
|ale financial assets|||
|4.The effective portion of cash flow hed|||
|ges and losses|||
|5.Translation differences in currency fin|||
|ancial statements|||
|6.Other|||
|VI. Total comprehensive income|10,188,315.57|-39,447,428.98|
|VII. Earnings per share：|||
|（I）Basic earnings per share|||
|(II)Diluted earnings per share|||

5. Consolidated Cash flow statement
In RMB
Bengang Steel Plates Co., Ltd. The 1st Quarterly Report 2016 (Full Text)
||||
|-|-|-|
|Items|Amount in this period|Amount in last period|
|I.Cash flows from operating activities|||
|Cash received from sales of goods or|||
||4,456,676,706.32|7,889,152,266.83|
|rending of services|||
|Net increase of customer deposits|||
|and capital kept for brother company|||
|Net increase of loans from central bank|||
|Net increase of inter-bank loans from|||
|other financial bodies|||
|Cash received against original|||
|insurance contract|||
|Net cash received from reinsurance|||
|business|||
|Net increase of client deposit and|||
|investment|||
|Net increase of the financial assets that|||
|are measured at fair value and whose|||
|movement is counted to the current|||
|gain and loss|||
|Cash received as interest, processing|||
|fee and commission|||
|Net increase of inter-bank fund|||
|received|||
|Net increase of repurchasing business|||
|Tax returned|176,587,078.95|173,412,633.74|
|Other cash received from business|||
||72,962,648.74|67,169,422.10|
|operation|||
|Sub-total of cash inflow|4,706,226,434.01|8,129,734,322.67|
|Cash paid for purchasing of|||
||1,558,773,903.55|6,845,828,150.13|
|merchandise and services|||
|Net increase of client trade and|||
|advance|||
|Net increase of savings n central bank|||
|and brother company|||
|Cash paid for original contract claim|||
|Cash paid for interest, processing fee|||
|and commission|||
|Cash paid for policy dividend|||

Bengang Steel Plates Co., Ltd. The 1st Quarterly Report 2016 (Full Text)
||||
|-|-|-|
|Cash paid to staffs or paid for staffs|443,360,862.49|530,989,965.62|
|Taxes paid|79,482,630.79|121,446,057.50|
|Other cash paid for business activities|26,118,839.42|30,296,366.60|
|Sub-total of cash outflow from|||
||2,107,736,236.25|7,528,560,539.85|
|business activities|||
|Cash flow generated by business|||
||2,598,490,197.76|601,173,782.82|
|operation, net|||
|II.Cash flow generated by investing|||
|Cash received from investment|||
|||700,000,000.00|
|retrieving|||
|Cash received as investment gains||2,452,534.28|
|Net cash retrieved from disposal of|||
|fixed assets, intangible assets, and|||
|other long-term assets|||
|Net cash received from disposal of|||
|subsidiaries or other operational units|||
|Other investment-related cash received|||
|Sub-total of cash inflow due to|||
|||702,452,534.28|
|investment activities|||
|Cash paid for construction of fixed|||
|assets, intangible assets and other|495,775,437.02|603,436,817.58|
|long-term assets|||
|Cash paid as investment|41,000,000.00|1,100,000,000.00|
|Net increase of loan against pledge|||
|Net cash received from subsidiaries|||
|and other operational units|||
|Other cash paid for investment|||
|activities|||
|Sub-total of cash outflow due to|||
||536,775,437.02|1,703,436,817.58|
|investment activities|||
|Net cash flow generated by investment|-536,775,437.02|-1,000,984,283.30|
|III.Cash flow generated by financing|||
|Cash received as investment|||
|Incl: Cash received as investment from|||
|minor shareholders|||
|Cash received as loans|3,653,371,876.26|3,914,775,807.42|
|Cash received from bond placing||1,500,000,000.00|

Bengang Steel Plates Co., Ltd. The 1st Quarterly Report 2016 (Full Text)
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|-|-|-|
|Other financing –related ash received|||
|Sub-total of cash inflow from financing|||
||3,653,371,876.26|5,414,775,807.42|
|activities|||
|Cash to repay debts|2,800,725,250.60|3,798,688,565.03|
|Cash paid as dividend, profit, or|||
||249,369,421.96|354,035,536.61|
|interests|||
|Incl: Dividend and profit paid by|||
|subsidiaries to minor shareholders|||
|Other cash paid for financing activities|||
|Sub-total of cash outflow due to|||
||3,050,094,672.56|4,152,724,101.64|
|financing activities|||
|Net cash flow generated by financing|603,277,203.70|1,262,051,705.78|
|IV. Influence of exchange rate|||
|alternation on cash and cash|-27,118,253.24|9,393,652.25|
|equivalents|||
|V.Net increase of cash and cash|||
||2,637,873,711.20|871,634,857.55|
|equivalents|||
|Add: balance of cash and cash|||
||5,140,477,745.07|9,774,657,726.06|
|equivalents at the beginning of term|||
|VI ..Balance of cash and cash|||
||7,778,351,456.27|10,646,292,583.61|
|equivalents at the end of term|||

6. Cash Flow Statement of the Parent Company
In RMB
||||
|-|-|-|
|Items|Amount in this period|Amount in last period|
|I.Cash flows from operating activities|||
|Cash received from sales of goods or|||
||4,019,869,377.46|6,428,288,152.41|
|rending of services|||
|Tax returned|172,506,656.56|130,788,072.89|
|Other cash received from business|||
||57,059,087.68|62,195,406.33|
|operation|||
|Sub-total of cash inflow|4,249,435,121.70|6,621,271,631.63|
|Cash paid for purchasing of|||
||1,120,248,395.70|6,391,842,867.92|
|merchandise and services|||
|Cash paid to staffs or paid for staffs|419,087,334.46|506,058,465.58|
|Taxes paid|30,358,813.93|54,400,166.97|

Bengang Steel Plates Co., Ltd. The 1st Quarterly Report 2016 (Full Text)
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|-|-|-|
|Other cash paid for business activities|22,899,983.64|23,545,525.77|
|Sub-total of cash outflow from|||
||1,592,594,527.73|6,975,847,026.24|
|business activities|||
|Cash flow generated by business|||
||2,656,840,593.97|-354,575,394.61|
|operation, net|||
|II.Cash flow generated by investing|||
|Cash received from investment|||
|||700,000,000.00|
|retrieving|||
|Cash received as investment gains||2,452,534.28|
|Net cash retrieved from disposal of|||
|fixed assets, intangible assets, and|||
|other long-term assets|||
|Net cash received from disposal of|||
|subsidiaries or other operational units|||
|Other investment-related cash received|||
|Sub-total of cash inflow due to|||
|||702,452,534.28|
|investment activities|||
|Cash paid for construction of fixed|||
|assets, intangible assets|485,499,487.61|593,852,993.00|
|and other long-term assets|||
|Cash paid as investment|41,000,000.00|1,100,000,000.00|
|Net cash received from subsidiaries|||
|and other operational units|||
|Other cash paid for investment|||
|activities|||
|Sub-total of cash outflow due to|||
||526,499,487.61|1,693,852,993.00|
|investment activities|||
|Net cash flow generated by investment|-526,499,487.61|-991,400,458.72|
|III.Cash flow generated by financing|||
|Cash received as investment|||
|Cash received as loans|3,412,740,000.00|3,814,565,125.77|
|Cash received from bond placing||1,500,000,000.00|
|Other financing –related ash received|||
|Sub-total of cash inflow from|||
||3,412,740,000.00|5,314,565,125.77|
|financing activities|||
|Cash to repay debts|2,700,039,599.29|2,721,886,565.03|
|Cash paid as dividend, profit, or|234,110,903.61|321,903,494.07|

Bengang Steel Plates Co., Ltd. The 1st Quarterly Report 2016 (Full Text)
||||
|-|-|-|
|interests|||
|Other cash paid for financing activities|||
|Sub-total of cash outflow due to|||
||2,934,150,502.90|3,043,790,059.10|
|financing activities|||
|Net cash flow generated by financing|478,589,497.10|2,270,775,066.67|
|IV. Influence of exchange rate|||
|alternation on cash and cash|-27,116,280.47|9,392,244.15|
|equivalents|||
|V.Net increase of cash and cash|||
||2,581,814,322.99|934,191,457.49|
|equivalents|||
|Add: balance of cash and cash|||
||4,921,089,319.57|9,512,021,457.17|
|equivalents at the beginning of term|||
|VI ..Balance of cash and cash|||
||7,502,903,642.56|10,446,212,914.66|
|equivalents at the end of term|||

II.Auditor’ report
Is the First Quarterly Report be audited?
□ Yes√No
The First Quarterly report is not audited.