2015 Quarterly One Report of Wuhan Boiler Company Limited WUHAN BOILER COMPANY LIMITED
2015 QUARTERLY ONE REPORT
2015-021
April 2015
2015 Quarterly One Report of Wuhan Boiler Company Limited Section I Important Notes
The Board of Directors, the Board of Supervisors as well as all Board Directors, Supervisors and Senior Management of Wuhan Boiler Company Limited (hereinafter referred to as “the Company”) hereby warrant that this Report is authentic, accurate and complete without any misstatement, misleading statement or material omission and will take individual and joint and several liabilities for that.
All Board Directors attended the Board Meeting for reviewing this Report.
Mr. Yeung Kwok Wei Richard, the Company Principal, Mr. Chin Wee Hua, the Accounting Principal, and Mr. Li Yihao, the AccountingDivision’s Principal (Accounting Manager), hereby ensure that the Financial Statements enclosed in this Report are authentic, accurate and complete.
2015 Quarterly One Report of Wuhan Boiler Company Limited Section II Major Financial Data& Change of Shareholders
I. Major accounting data and financial indexes
Does the Company adjust retrospectively or restate accounting data of previous years due to change of the accounting policy or correction of any accounting error?
□ Yes√ No
|||||
|-|-|-|-|
||||Increase/decrease (%) as|
||Jan.-Mar. 2015|Jan.-Mar. 2014|compared to same period|
||||last year|
|Gross operating revenues (RMB Yuan)|303,704,050.81|275,216,043.88|10.35%|
|Net profit attributable to shareholders of|14,082,800.20|24,452,751.47||
||||-42.41%|
|the Company (RMB Yuan)||||
|Net profit attributable to shareholders of||||
|the Company after deducting||||
||14,002,229.47|24,326,529.41|-42.44%|
|non-recurring gains and losses (RMB||||
|Yuan)||||
|Net cash flow from operating activities|135,449,789.18|163,194,766.88||
||||-17.00%|
|(RMB Yuan)||||
|Basic EPS (RMB Yuan/share)|0.05|0.08|-37.50%|
|Diluted EPS (RMB Yuan/share)|0.05|0.08|-37.50%|
|The weighted average ROE|-0.97%|-1.81%|0.84%|
||Mar. 31, 2015|Dec. 31, 2014|Increase/decrease (%)|
|Total assets (RMB Yuan)|1,418,705,811.74|1,150,482,149.87|23.31%|
|Owners’ equity attributable to shareholders|-1,445,773,900.94|-1,459,856,701.14||
||||0.96%|
|of the Company (RMB Yuan)||||

Items and amounts of non-recurring gains and losses
√Applicable□Not applicable
Unit: RMB Yuan
||||
|-|-|-|
|Item|Jan.-Mar. 2015|Explanation|
|Government grants recognized in the current period, except for those|||
|||Deferred revenue related to new|
|acquired in the ordinary course of business or granted at certain|69,444.00||
|||factory land use right|
|quotas or amounts according to the country’s unified standards|||
|||Individual income tax commission|
|Other non-operating income and expenses other than the above|11,126.73||
|||charge return|
|Total|80,570.73||

2015 Quarterly One Report of Wuhan Boiler Company Limited Explain the reasons if the Company classifies an item as a non-recurring gain/loss according to the definition in the Explanatory Announcement No. 1 on Information Disclosure for Public Listed Companies– Non-recurring Gains and Losses, or classifies any non-recurring gain/loss item mentioned in the said explanatory announcement as a recurrent gain/loss item
□Applicable√Not applicable
In the report period, the Companydidn’t classify any non-recurring gain/loss item defined or mentioned in the Explanatory Announcement No. 1 on Information Disclosure for Public Listed Companies– Non-recurring Gains and Losses as a recurrent gain/loss item.
II. Total number of shareholders at the period-end and shareholdings of the top ten shareholders
1. Total number of shareholders with common shares and shareholdings of the top ten shareholders with common shares at the period-end
Unit: share
|||||||||
|-|-|-|-|-|-|-|-|
|Total number of shareholders with||||||||
|||7,688||||||
|common shares at the period-end||||||||
|Shareholdings of the top ten shareholders with common shares||||||||
||||||Number of the|Pledged or frozen shares||
||||Shareholdin|Number of the||||
|Name of shareholder|Nature of shareholder||||non-tradable|Status of|Number of|
||||g percentage|shares held||||
||||||shares held|shares|shares|
|ALSTOM (CHINA)INVESTMENT CO., LTD|Domestic non-state-ownedcorporation||51.00%|151,470,000|151,470,000|||
|WUHAN BOILER GROUPCO., LTD|State-owned corporation||6.91%|20,530,000|20,530,000|||
|WANG XIAO|Domestic natural person||0.90%|2,672,800|0|||
|CHEN PENG|Domestic natural person||0.79%|2,331,545|0|||
|HU ZHIHONG|Domestic natural person||0.47%|1,390,397|0|||
|CHINA MERCHANTSSECURITIES (HK) CO.,LTD.|State-owned corporation||0.46%|1,380,236|0|||
|CHEN CHUYUN|Domestic natural person||0.46%|1,372,450|0|||
|HSBC BROKINGSECURITIES (ASIA)LIMITED-CLIENTS A/C|Foreign corporation||0.40%|1,195,114|0|||
|ZHUANG CHANGXIONG|Domestic natural person||0.35%|1,045,000|0|||
|SUN WEIWEI|Domestic natural person||0.33%|966,567|0|||
|Shareholdings of the top ten shareholders with tradable shares||||||||

2015 Quarterly One Report of Wuhan Boiler Company Limited
|||||
|-|-|-|-|
||Number of tradable|Type of shares||
|Name of shareholder||||
||shares held|Type|Number|
|WANG XIAO|2,672,800|Domestically listed foreign shares|2,672,800|
|CHEN PENG|2,331,545|Domestically listed foreign shares|2,331,545|
|||Domestically listed foreign shares||
|HU ZHIHONG|1,390,397|Domestically listed foreign shares|1,390,397|
|CHINA MERCHANTSSECURITIES (HK) CO., LTD.|1,380,236|||
|||Domestically listed foreign shares|1,380,236|
|CHEN CHUYUN|1,372,450|Domestically listed foreign shares|1,372,450|
|HSBC BROKING SECURITIES(ASIA) LIMITED-CLIENTS A/C|1,195,114|||
|||Domestically listed foreign shares|1,195,114|
|ZHUANG CHANGXIONG|1,045,000|Domestically listed foreign shares|1,045,000|
|SUN WEIWEI|966,567|Domestically listed foreign shares|966,567|
|GUOTAI JUNAN SECURITIES(HONGKONG) LIMITED|926,997|||
|||Domestically listed foreign shares|926,997|
|QIN HUI|909,286|Domestically listed foreign shares|909,286|
||The top ten shareholders of the Company are public shareholders with tradable B shares. The|||
|Explanation on affiliated||||
||Company is not aware of whether there is any affiliated relationship among the top ten|||
|relationship or persons acting in||||
||shareholders with tradable shares and whether there are persons acting in concert among them.|||
|concert among the above-mentioned||||
||The Company is not aware of whether there is any affiliated relationship among the top ten|||
|shareholders||||
||shareholders and the top ten shareholders with tradable share.|||
|Explanation on the top ten||||
|shareholders with tradable shares||||
||Not applicable|||
|participating in the margin trading||||
|business (if any)||||

Whether the top 10 shareholders with common shares and the top 10 shareholders with tradable common shares of the Company reach agreement of buy-back trading in the report period?
□ Yes√ No
No top 10 shareholders with common shares and top 10 shareholders with tradable common shares of the Company carried out any agreed buy-back trading in the report period.
2. Total number of shareholders with preferred shares and shareholdings of the top ten shareholders with preferred shares at the period-end
□Applicable√Not applicable
2015 Quarterly One Report of Wuhan Boiler Company Limited Section III Significant Events
I. Major changes of main accounting statement items and financial indicators in the report period, as well as reasons for the changes
√Applicable□Not applicable
1. Cash and cash equivalent increased by1182.87%, mainly due to increase on collection from Opole, Ashalim, Altamira projects this period;
2. Notes receivable decreased by100.00%, mainly due to all bank notes are endorsed to vendors this period; 3. Account receivables increased by63.36%, mainly due to accounts receivables recognized for Karabiga and Ashalim projects this period;
4. Down payment increased by78.75%, mainly due to increase on purchasing material for Opole, Ashalim and Karabiga projects;
5. Other receivables decreased by54.00%, Mainly due to collection from VAT export taxes refunding
recognized in prior period and decrease on output VAT;
6. Inventories increased by219.05%,
it’s
mainly due to increase of raw material for projects this period; 7. Other non-current assets increased by51.26%, mainly due to increase of hedging gain for unsettled hedged items in this period;
8. Notes payable increased by46.74%, mainly due to increase of payment with bank notes this period;
9. Accounts payable increased by86.95%, mainly due to the increase of raw material purchasing for Yanbu, Tai'an and Opole projects this period;
10. Tax payable decreased by64.67%, mainly due to output VAT decrease;
11. Other non-current liability increased by48.20%, mainly due to increase on the hedging loss arising from unsettled hedging instruments;
12. Business tax and surcharges increased by4016.73%, mainly due increase of taxable labor service income this period;
13. Financial expense increased by81.49%, mainly due to increase of foreign exchange loss this period;
14. Assets impairment loss increased by55.54%, mainly due to reversed bad-debt provision less than the same period of last year for the AR collection this period;
15. Non-operating income decreased by38.39%, mainly due to the decrease on the gains from the disposal of fixed assets this period;
16. Non-operating cost decreased by100.00%, mainly due to no non-operating cost this period;
17. Income tax expense increased by918.77%, mainly due to Perawang project settled, contract loss provision reversed and income tax expense reversed accordingly in the same period of last year , there is no same event this period ;
18. Net cash flow generated from investment activities decreased by741.49%, mainly due to the increase of cash out paid for fixed assets this period;
19. Net cash flow generated from financing activities decreased by492.35%, mainly due to the increase in repayment of entrusted loans this period;
20. The influence of the changes of rate on cash increased by4816.10%, mainly due to the influences of the FX rate changes this period.
2015 Quarterly One Report of Wuhan Boiler Company Limited II. Progress and influence of significant events, as well as the analysis and explanation on solutions
√Applicable□Not applicable
1. Because the audited net profits and closing net assets for three consecutive accounting years of 2011, 2012 and 2013 are negative, Shenzhen Stock Exchange has decided to suspend the listing of theCompany’s stocks starting from May 16, 2014 according to Article 14.1.1 and 14.1.2 of the Stock Listing Rules of Shenzhen Stock Exchange. The relevant announcement (No. 2014-049) was disclosed on Securities Times and Ta Kung Pao dated May 14, 2014.
2. According to Article 14.4.1 of the Stock Listing Rules of Shenzhen Stock Exchange (Revised in 2014), Shenzhen Stock Exchange may decide to terminate the listing of a listedcompany’s stock when one of the following situations occurs: (1) after thecompany’s stocks were suspended from listing as a result of the occurrence of the circumstance specified in Article 14.1.1(1) to (4) regarding net profit, net assets, operating revenues or theauditor’s opinion type, and the first annual report after listing suspension shows a negative net profit or net profit after deducting non-recurring gains and losses; (2) after thecompany’s stocks were suspended from listing as a result of the occurrence of the circumstance specified in Article 14.1.1(1) to (4) regarding net profit, net assets, operating revenues or theauditor’s opinion type, and the first annual report after listing suspension shows negative net assets.
3. On Apr. 29, 2015, the Company disclosed its 2014 Annual Report (No. 2015-011). In the report period, the net profit attributable to shareholders of the Company is RMB -101,698,250.48, and theowner’s equity attributable to shareholders of the Company is -1,459,856,701.14. 2014 Financial Audit Report has also been disclosed on Securities Times, Ta Kung Pao and www.cninfo.com.cn on the same day.
4. According to Article 14.4.4 of the Stock Listing Rules of Shenzhen Stock Exchange (Revised in 2014), if the audited net profit and closing net assets of the Company for 2014 are negative, Shenzhen Stock Exchange shall decide whether the Company shall be delisted within 15 trade days upon disclosure of theCompany’s 2014 Annual Report.
5. On April 25, 2014, the
5th
Meeting of the
6th
Board of Directors approved the Investment Plan of United Building 3. On April 29, 2014, the Resolutions of the
5th
Meeting of the
6th
Board of Directors (No. 2014-036) and the Investment Announcement of the Company (No. 2014-047) were published on Securities Times, Ta Kung Pao and http://www.cninfo.com.cn. Until now, the Company has obtained government approvals on planning, environmental impact assessment and etc. Currently, United Building 3 is under construction.
6. On August 29, 2014, the Company received a written notice from majority shareholder Alstom (China) Investment Co., Ltd. (“ACL”) that Alstom (a French listed company and theCompany’s actual controller) recently announced that its Board of Directors has unanimously decided to issue a positive recommendation of the offer from GE to acquire the Thermal Power, Renewable Power and Grid Sectors and to enter into Energy alliances. Should this offer be approved and completed, Alstom would focus on its fully owned Transport activities and on its Energy alliances with GE. According to the latest information, the51% shares of the Company owned by ACL belong to assets of the Alstom Thermal Power. Alstom expects the deal to be closed in the first half of calendar year 2015. Alstom and GE will continue to operate as separate companies until the transaction is finalized. On November 6, 2014, the Company received a notice from the controlling shareholder ACL and learned that GE and theCompany’s actual controller Alstom had officially signed a Master Agreement and other relevant documents. Before the Acquisition close, the following conditions, the attainment of which are beyond the control of the Boards of both companies, need to be satisfied: (1) Alstom submits the Acquisition to itsshareholder’ meeting for deliberation and the Acquisition is approved; (2) Alstom and GE apply for the approval, clearance or registration
2015 Quarterly One Report of Wuhan Boiler Company Limited from each regulatory authority in charge of foreign investments from all over the world, including the Ministry of Commerce of the P.R.China or its local counterparts, and successfully complete such regulatory processes; (3) Alstom and GE apply for the approval, clearance or registration from competition authorities from all over the world, including the Anti-Monopoly Bureau of the Ministry of Commerce of the P.R.China and the EU competition authorities, and successfully complete such regulatory processes. Before all the external conditions set forth in the Master Agreement are satisfied and the Acquisition is fully completed,GE’s andAlstom’s businesses relevant to the Acquisition will maintain the respective status quo and operate independently. Up till now, no further progress regarding this issue.
7. In Sep. 2003, Dongfang Xiwang Baotou Xitu Aluminium Co., Ltd (“Baotou”) signed the Contract of2×350MW Boilers with the Company. During executing the Contract, the Company fully implemented delivery obligations according to the Contract, but Baotou defaulted on the payment. The Company required Baotou to pay the overdue many times through various ways (including phone, fax and EMS), but Baotou claimed quality issues against the Company and refused to pay. It also refused to solve the pending problems through amicable negotiation with the Company. In May 2014, the Company sued Baotou before Inner Mongolia High Court, requesting judgment against Baotou for paying overdue and undertaking liquidated damages and bank interests. Relevant evidences were submitted to the Court. Until now, the Court has not made judgment yet.
||||
|-|-|-|
|||Index to the relevant announcement|
|Overview of the significant event|Date of disclosure||
|||disclosed on the website|
|Offer from GE to acquire the ThermalPower, Renewable Power and Grid Sectorsof Alstom|||
|||http://www.cninfo.com.cn (No. 2014-076|
||Sep. 1, 2014||
|||and No. 2014-087)|
|Litigation raised by the Company againstBaotou for contract disputes|||
||Aug. 6, 2014|http://www.cninfo.com.cn (No. 2014-073)|
|The Company’s investment plan of UnitedBuilding 3|||
||Apr. 29, 2014|http://www.cninfo.com.cn (No. 2014-036)|
|Risk warning of delisting of theCompany’s stocks|||
||Jan. 14, 2015|http://www.cninfo.com.cn (No. 2015-002)|

III. Commitments made by the Company or shareholders holding over5% shares of the Company in the report period or such commitments carried down into the report period√Applicable□Not applicable
|||||||
|-|-|-|-|-|-|
||Commitment||Time of making|Period of||
|Commitment||Contents|||Fulfillment|
||maker||commitment|commitment||
|Commitment on share reform|－|－|－|－|－|
||Alstom (China)|Avoid|||Strictly fulfill the|
|Commitment in the acquisition report or||||Long-term||
||Investment Co.,|horizontal|April 14, 2006||commitment and|
|the report on equity changes||||effective||
||Ltd|competition|||no breaches|
|Commitments made in assets||||||
||－|－|－|－|－|
|reorganization||||||
|Commitments made in IPO or refinancing|－|－|－|－|－|

2015 Quarterly One Report of Wuhan Boiler Company Limited
|||||||
|-|-|-|-|-|-|
|Other commitments made to minority||||||
||－|－|－|－|－|
|shareholders||||||
|The commitment has been fulfilled in time||||||
||Yes|||||
|or not||||||
|Specific reason for failing to fulfill the||||||
|commitment and the plan for the next step|Not applicable|||||
|(if any)||||||

IV. Forecast for the operating results of Jan.-Jun. 2015
Warnings of possible loss or considerable year-on-year change of the accumulated net profit made during the period from the beginning of the year to the end of the next report period according to forecast, as well as explanations on the reasons
□Applicable√Not applicable
V. Securities investment
□ Applicable√ Not applicable
The Company did not invest in any securities in the report period.
VI. Shareholdings in other listed companies
□ Applicable√ Not applicable
The Company did not hold any shares in other listed companies in the report period.
VII. Derivatives investment
√Applicable□Not applicable
Unit: RMB Ten thousand
|||||||||||||
|-|-|-|-|-|-|-|-|-|-|-|-|
|||||||||||Proportion||
|||||||||||of the||
|||||||||||closing||
|||Related|||||||||Actual|
||||Type of|Initial|||Opening|Impairment|Closing|investment||
|||party|||Beginning|Ending|||||gain/loss|
|Operator|Relation||derivatives|investment|||investment|provision|investment|amount in||
|||transaction|||date|date|||||in report|
||||investment|amount|||amount|(if any)|amount|the||
|||or not|||||||||period|
|||||||||||Company’s||
|||||||||||closing net||
|||||||||||assets (%)||
||||Forward|||||||||
||Non-||||2014-12-|2015-06||||||
|BNP||No|FX|2,638.43|||2,638.43||259.36|0.00%|6.77|
||Relation||||10|-26||||||
||||contract|||||||||

2015 Quarterly One Report of Wuhan Boiler Company Limited
|||||||||||||
|-|-|-|-|-|-|-|-|-|-|-|-|
||||Forward|||||||||
||Non-||||2014-03-|2018-04||||||
|HSBC||No|FX|76,073.71|||76,073.71||70,930.78|49.07%|-1,752.38|
||Relation||||18|-25||||||
||||contract|||||||||
||||Forward|||||||||
||Non-||||2015-02-0|2016-01||||||
|SCB||No|FX|4,936.36|||4,936.36||5,919.4|4.09%|-48.26|
||Relation||||6|-15||||||
||||contract|||||||||
|Total||||83,648.5|--|--|83,648.5|0|77,109.54|53.16%|-1,793.87|
|Capital source for derivatives investment||||Self-funded||||||||
|Any litigation involved||||NA||||||||
|Disclosure date of the board||||||||||||
|announcement approving the derivative||||April 29, 2015||||||||
|investment (if any)||||||||||||
|Disclosure date of the Shareholders’||||||||||||
|Meeting announcement approving the||||NA||||||||
|derivative investment (if any)||||||||||||
|||||In order to satisfy needs arising from business development and avoid risk concerning||||||||
|||||exchange rates, the Company signed forward FX contracts with HSBC, SCB, etc. respectively.||||||||
|||||For exchange rate fluctuations risk, the Company and banks do collaborative exchange rate||||||||
|||||trend forecasts, closely track changes in exchange rates, changes in market conditions to||||||||
|||||implement dynamic management; For liquidity risk, foreign exchange hedging operations||||||||
|||||carried out by the Company are based on the Company's estimated foreign exchange payments||||||||
|||||and collection of trade, because the foreign exchange hedging operations match with the actual||||||||
|||||foreign exchange trade, so this can ensure sufficient fund for settlement at delivery time, there||||||||
|||||is less affected on the liquidation of the company’s current assets; For operational risk, the||||||||
|Analysis on risks and control measures of||||||||||||
|||||Company developed a standardized operational processes and authorization management||||||||
|derivative products held in the report||||||||||||
|||||systems, equipped with full-time staff and strictly control their authority to conduct foreign||||||||
|period (including but not limited to market||||||||||||
|||||exchange hedging operations; while strengthening business related personnel training and||||||||
|risk, liquidity risk, credit risk, operation||||||||||||
|||||professional ethics , and improving quality of personnel, and the establishing anomalies timely||||||||
|risk, law risk, etc.)||||||||||||
|||||reporting system to avoid the occurrence of operational risk at the maximum; For credit risk,||||||||
|||||the Company's counterparties of foreign exchange hedging are reputable business and the||||||||
|||||company has established long-term business relationship with large commercial banks and||||||||
|||||foreign banks, so, basically there is no performance risk; For legal risk, the Company||||||||
|||||conducted foreign exchange hedging operations legally in accordance with relevant laws and||||||||
|||||regulations and relevant transaction management practices, and signed a legal agreement with||||||||
|||||the counterparties for clear and accurate terms to avoid possible legal disputes at the||||||||
|||||maximum; and the Company has carried out sufficient assessment and effective control on||||||||
|||||possible risk concerning credit, operation and cash flows.||||||||

2015 Quarterly One Report of Wuhan Boiler Company Limited
|||
|-|-|
|Changes of market prices or fair values in||
||The Company recognized the gain and loss of fair values of the invested derivatives, the fair|
|the report period of the invested||
||values loss of the invested derivatives this period was 17,938.7KRMB, the calculation of fair|
|derivatives. And the analysis on the fair||
||values was based on the contract values and forward rate quote of end of this accounting|
|value of the derivatives should include the||
||period provided by the related business partners which was accordance with the expiry date of|
|specific use methods and the relevant||
||each forward contracts.|
|assumptions and parameters||
|Whether significant changes occurred to||
|the Company’s accounting policy and||
|specific accounting principles of|No major change|
|derivatives in the report period compared||
|to the previous report period||
||Independent Directors expressed independent opinions on 2015 Hedging Derivative|
||Investments as below: The foreign exchange trading for hedging purpose made by the|
||Company in order to prevent exchange rate risk is based on reasonable estimation and current|
||need for foreign exchange payment and collection. The business process is compliant with|
|Independent Directors’ opinions on||
||laws and regulations. There is almost no market risk, no performance risk and no impact on|
|derivatives investment and risk control||
||liquidity of the Company. The Company has established organization, business procedures,|
||approval process and Internal Control Rules on Derivatives Investment for foreign exchange|
||trading. We think the Company can improve foreign exchange risk management and prevent|
||exchange rate risk through derivatives investment business.|

VIII. Researches, visits and interviews received in this report period
√Applicable□Not applicable
|||||||
|-|-|-|-|-|-|
||||||Main discussion and|
|Date|Place|Way of reception|Visitor type|Visitor|materials provided by the|
||||||Company|
||||||Would the Company|
||||||organize another|
|||||Shareholder with||
|Jan. 16, 2015|Wuhan|By phone|Individual||debt-to-equity voting? Would|
|||||tradable shares||
||||||the stock trading be|
||||||resumed?|
||||||Would the stock trading be|
|||||Shareholder with|resumed? Would it go to the|
|Feb. 23, 2015|Wuhan|By phone|Individual|||
|||||tradable shares|third market if delisting|
||||||happened?|
||||||Could the Company’s shares|
|||||Shareholder with|still be traded upon delisting?|
|Mar. 16, 2015|Wuhan|By phone|Individual|||
|||||tradable shares|Would it enter the delisting|
||||||trade period?|

2015 Quarterly One Report of Wuhan Boiler Company Limited IX. The confirmative opinion of all the Board Directors and Senior Management on recognition of 2015 Quarterly One Report
According to Article 68 of the Securities Law, all the Board Director and Senior Management of the Company hereby confirm that 2015 Quarterly One Report of the Company is authentic, accurate and complete without any misstatement, misleading statement or material omission.
X. The opinion of the Board of Supervisors on 2015 Quarterly One Report
After review, the Board of Supervisors is of the opinion that the procedure for the Board of Directors to prepare and approve 2015 Quarterly One Report is in accordance with laws, regulations and rules of China Securities Regulatory Commission. The contents of 2015 Quarterly One Report, truly, accurately and completely, reflect real situation of the Company and there are no misstatements, misleading statements or material omissions.
2015 Quarterly One Report of Wuhan Boiler Company Limited Section IV. Financial Statements
I. Financial statements
1. Consolidated balance sheet
Prepared by Wuhan Boiler Company Limited
Unit: RMB Yuan
||||
|-|-|-|
|Item|Closing balance|Opening balance|
|Current assets:|||
|Monetary funds|109,233,264.50|8,514,759.05|
|Deposit reservation for balance|||
|Outgoing call loans|||
|Financial assets measured at fair|||
|value and of which the changes are|||
|recorded into the current gains and|||
|losses|||
|Derivative financial assets|||
|Notes receivable||36,245,380.00|
|Accounts receivable|40,295,596.74|24,667,317.47|
|Prepayment|192,400,185.85|107,637,276.70|
|Insurance receivables|||
|Reinsurance receivables|||
|Provision of reinsurance contract|||
|reserve receivable|||
|Interest receivable|||
|Dividend receivable|||
|Other receivables|27,786,349.06|60,410,567.84|
|Financial assets purchased under|||
|agreement to resell|||
|Inventories|188,305,164.39|59,020,572.11|
|Assets held for sale|||
|Non-current assets due within 1-year|||
|Other current assets|||
|Total current assets|558,020,560.54|296,495,873.17|

2015 Quarterly One Report of Wuhan Boiler Company Limited
||||
|-|-|-|
|Non-current assets：|||
|Loan and payment on other’s behalf|||
|disbursed|||
|Available-for-sale financial assets|||
|Investment held to maturity|||
|Long-term receivables|||
|Long-term equity investment|||
|Investment property|||
|Fixed assets|671,333,756.02|674,126,925.05|
|Construction in progress|7,093,500.92|6,007,903.49|
|Engineering materials|||
|Disposal of fixed assets|||
|Production biological assets|||
|Oil-gas assets|||
|Intangible assets|67,762,137.20|68,876,313.45|
|R&D expenses|||
|Goodwill|||
|Long-term deferred expenses|||
|Deferred income tax assets|77,367,943.92|80,429,432.07|
|Other non-current assets|37,127,913.14|24,545,702.64|
|Total non-current assets|860,685,251.20|853,986,276.70|
|Total assets|1,418,705,811.74|1,150,482,149.87|
|Current liabilities:|||
|Short-term loans|1,459,800,000.00|1,512,800,000.00|
|Loans from central bank|||
|Deposits received and held for others|||
|Call loans received|||
|Financial liabilities measured at fair|||
|value and of which the changes are|||
|recorded into the current gains and|||
|losses|||
|Derivative financial liabilities|||
|Notes payable|195,830,000.00|133,450,000.00|
|Accounts payable|370,763,355.20|198,324,854.35|
|Advance from customers|712,131,859.19|649,426,107.48|

2015 Quarterly One Report of Wuhan Boiler Company Limited
||||
|-|-|-|
|Financial assets sold under|||
|agreements to repurchase|||
|Fees and commissions payable|||
|Payroll payable|9,836,859.05|9,872,888.01|
|Taxes payable|-9,204,901.30|2,734,354.03|
|Interest payable|2,002,170.00|2,002,170.00|
|Dividend payable|562,000.00|562,000.00|
|Other payables|51,750,158.04|41,545,848.47|
|Amount due to reinsurance|||
|Insurance contract provision|||
|Entrusted trading of securities|||
|Amount payable under security|||
|underwriting|||
|Liabilities held for sale|||
|Non-current liabilities due within|||
|1-year|||
|Other current liabilities|||
|Total current liabilities:|2,793,471,500.18|2,550,718,222.34|
|Non-current liabilities:|||
|Long-term loans|||
|Bonds payable|||
|Of which: preferred shares|||
|Perpetual bonds|||
|Long-term payables|||
|Payroll payables|21,769,623.91|22,372,000.00|
|Specific payables|||
|Provision for liabilities|||
|Deferred incomes|11,967,516.00|12,036,960.00|
|Deferred income tax liabilities|||
|Other non-current liabilities|37,036,898.51|24,991,910.49|
|Total non-current liabilities|70,774,038.42|59,400,870.49|
|Total liabilities|2,864,245,538.60|2,610,119,092.83|
|Owners’ equity:|||
|Share capital|297,000,000.00|297,000,000.00|
|Other equity instruments|||

2015 Quarterly One Report of Wuhan Boiler Company Limited
||||
|-|-|-|
|Of which: preferred shares|||
|Perpetual bonds|||
|Capital reserve|174,659,407.46|174,659,407.46|
|Less：Treasury stock|||
|Other comprehensive income|4,499,272.11|4,499,272.11|
|Specific reserve|||
|Surplus reserve|39,418,356.83|39,418,356.83|
|General risk provision|||
|Retained earnings|-1,961,350,937.34|-1,975,433,737.54|
|Total owners’ equity attributable to|||
||-1,445,773,900.94|-1,459,856,701.14|
|the Company|||
|Minority interests|234,174.08|219,758.18|
|Total owners’ equity|-1,445,539,726.86|-1,459,636,942.96|
|Total liabilities & owners’ equity|1,418,705,811.74|1,150,482,149.87|

 Legal representative: YEUNG Kwok Wei Richard Person-in-charge of the accounting work: CHIN Wee Hua Chief of the accounting division: LI Yihao
2. Balance sheet of the Company
Unit: RMB Yuan
||||
|-|-|-|
|Item|Closing balance|Opening balance|
|Current assets:|||
|Monetary funds|107,216,973.27|6,822,057.73|
|Financial assets measured at fair|||
|value and of which the changes are|||
|recorded into the current gains and|||
|losses|||
|Derivative financial assets|||
|Notes receivable||36,245,380.00|
|Accounts receivable|40,295,596.74|24,667,317.47|
|Prepayment|192,400,185.85|107,637,276.70|
|Interest receivable|||
|Dividend receivable|||
|Other receivables|28,243,542.58|60,861,719.37|
|Inventories|188,305,164.39|59,020,572.11|

2015 Quarterly One Report of Wuhan Boiler Company Limited
||||
|-|-|-|
|Assets held for sale|||
|Non-current assets due within 1-year|||
|Other current assets|||
|Total current assets|556,461,462.83|295,254,323.38|
|Non-current assets：|||
|Available-for-sale financial assets|||
|Investment held to maturity|||
|Long-term receivables|||
|Long-term equity investment|24,984,500.00|24,984,500.00|
|Investment property|||
|Fixed assets|671,490,733.01|674,283,902.04|
|Construction in progress|7,093,500.92|6,007,903.49|
|Engineering materials|||
|Disposal of fixed assets|||
|Production biological assets|||
|Oil-gas assets|||
|Intangible assets|67,762,137.20|68,876,313.45|
|R&D expenses|||
|Goodwill|||
|Long-term deferred expenses|||
|Deferred income tax assets|77,367,943.92|80,429,432.07|
|Other non-current assets|37,127,913.14|24,545,702.64|
|Total non-current assets|885,826,728.19|879,127,753.69|
|Total assets|1,442,288,191.02|1,174,382,077.07|
|Current liabilities:|||
|Short-term loans|1,459,800,000.00|1,512,800,000.00|
|Financial liabilities measured at fair|||
|value and of which the changes are|||
|recorded into the current gains and|||
|losses|||
|Derivative financial liabilities|||
|Notes payable|195,830,000.00|133,450,000.00|
|Accounts payable|371,199,355.20|198,760,854.35|
|Advance from customers|712,131,859.19|649,426,107.48|
|Payroll payable|9,667,263.07|9,703,292.03|

2015 Quarterly One Report of Wuhan Boiler Company Limited
||||
|-|-|-|
|Taxes payable|-9,204,901.30|2,734,354.03|
|Interest payable|2,002,170.00|2,002,170.00|
|dividend payable|||
|Other payables|89,627,816.45|79,423,506.89|
|Liabilities held for sale|||
|Non-current liabilities due within|||
|1-year|||
|Other current liabilities|||
|Total current liabilities:|2,831,053,562.61|2,588,300,284.78|
|Non-current liabilities:|||
|Long-term loans|||
|Bonds payable|||
|Of which: preferred shares|||
|Perpetual bonds|||
|Long-term payables|||
|Long-term payroll payables|21,769,623.91|22,372,000.00|
|Specific payables|||
|Provision for liabilities|||
|Deferred incomes|11,967,516.00|12,036,960.00|
|Deferred income tax liabilities|||
|Other non-current liabilities|37,036,898.51|24,991,910.49|
|Total non-current liabilities|70,774,038.42|59,400,870.49|
|Total liabilities|2,901,827,601.03|2,647,701,155.27|
|Owners’ equity:|||
|Share capital|297,000,000.00|297,000,000.00|
|Other equity instruments|||
|Of which: preferred shares|||
|Perpetual bonds|||
|Capital reserve|174,854,304.12|174,854,304.12|
|Less: Treasury stock|||
|Other comprehensive incomes|4,499,272.11|4,499,272.11|
|Specific reserve|||
|Surplus reserve|39,418,356.83|39,418,356.83|
|Retained earnings|-1,975,311,343.07|-1,989,091,011.26|

2015 Quarterly One Report of Wuhan Boiler Company Limited
||||
|-|-|-|
|Total owners’ equity|-1,459,539,410.01|-1,473,319,078.20|
|Total liabilities & owners’ equity|1,442,288,191.02|1,174,382,077.07|

 3. Consolidated income statement
Unit: RMB Yuan
||||
|-|-|-|
|Item|Jan.-Mar. 2015|Jan.-Mar. 2014|
|I. Total sales|303,704,050.81|275,216,043.88|
|Including: Sales|303,704,050.81|275,216,043.88|
|Interest income|||
|Earned Premium|||
|Commissions and fees income|||
|II. Total cost of sales|284,828,869.08|248,983,909.00|
|Including: Cost of sales|236,172,403.85|221,294,478.46|
|Interest expense|||
|Commissions and fees|||
|Cash surrender value|||
|Claim expenses-net|||
|Provision for insurance contract|||
|reserves-net|||
|Insurance policy dividend paid|||
|Reinsurance expense|||
|Business taxes and surcharges|280,784.83|6,820.58|
|Distribution expenses|3,915,561.96|3,678,680.79|
|Administrative expenses|7,980,076.60|7,499,321.27|
|Financial costs|38,597,380.08|21,267,452.49|
|Impairment loss|-2,117,338.24|-4,762,844.59|
|Add: gain/(loss) from change in fair|||
||-1,797,048.21|-2,270,020.67|
|value (“-” means loss)|||
|Gain/(loss) from investment (“-”|||
|means loss)|||
|Including: income from|||
|investment on associates and joint|||
|ventures|||
|Foreign exchange difference (“-”|||
|means loss)|||

2015 Quarterly One Report of Wuhan Boiler Company Limited
||||
|-|-|-|
|III. Business profit (“-” means loss)|17,078,133.52|23,962,114.21|
|Add: non-business income|80,570.73|130,766.17|
|Including: Gains on disposal of|||
|non-current assets|||
|Less: non-business expense||4,544.11|
|Including: Losses on disposal of|||
|non-current assets|||
|IV. Total profit (“-” means loss)|17,158,704.25|24,088,336.27|
|Less: income tax expense|3,061,488.15|-373,913.81|
|V. Net profit (“-” means loss)|14,097,216.10|24,462,250.08|
|Net profit attributable to owners of the|||
||14,082,800.20|24,452,751.47|
|Company|||
|Minority shareholders’ income|14,415.90|9,498.61|
|VI. After-tax net amount of other|||
|comprehensive incomes|||
|After-tax net amount of other|||
|comprehensive incomes attributable to|||
|owners of the Company|||
|(I) Other comprehensive incomes|||
|that will not be reclassified into gains and|||
|losses|||
|1. Changes in net liabilities or|||
|assets with a defined benefit plan upon|||
|re-measurement|||
|2. Enjoyable shares in other|||
|comprehensive incomes in investees that|||
|cannot be reclassified into gains and|||
|losses under the equity method|||
|(II) Other comprehensive incomes|||
|that will be reclassified into gains and|||
|losses|||
|1. Enjoyable shares in other|||
|comprehensive incomes in investees that|||
|will be reclassified into gains and losses|||
|under the equity method|||
|2. Gains and losses on fair|||
|value changes of available-for-sale|||
|financial assets|||
|3. Gains and losses on|||

2015 Quarterly One Report of Wuhan Boiler Company Limited
||||
|-|-|-|
|reclassifying held-to-maturity|||
|investments into available-for-sale|||
|financial assets|||
|4. Effective hedging gains and|||
|losses on cash flows|||
|5. Foreign-currency financia|l||
|statement translation difference|||
|6. Other|||
|After-tax net amount of other|||
|comprehensive incomes attributable to|||
|minority shareholders|||
|VII. Total comprehensive incomes|14,097,216.10|24,462,250.08|
|Attributable to owners of the|14,082,800.20||
|||24,452,751.47|
|Company|||
|Attributable to minority|14,415.90||
|||9,498.61|
|shareholders|||
|VIII. Earnings per share|||
|(I) Basic earnings per share|0.05|0.08|
|(II) Diluted earnings per share|0.05|0.08|

 Legal representative: YEUNG Kwok Wei Richard Person-in-charge of the accounting work: CHIN Wee Hua Chief of the accounting division: LI Yihao
4. Income statement of the Company
Unit: RMB Yuan
||||
|-|-|-|
|Item|Jan.-Mar. 2015|Jan.-Mar. 2014|
|I. Total sales|303,704,050.81|275,216,043.88|
|Less: Cost of sales|246,318,355.97|221,294,478.46|
|Business taxes and surcharges|280,784.83|6,820.58|
|Distribution expenses|3,915,561.96|3,678,680.79|
|Administrative expenses|7,974,276.60|7,494,121.27|
|Financial costs|38,598,708.14|21,268,824.74|
|Impairment loss|-11,941,270.51|-4,569,044.35|
|Add: gain/(loss) from change in fairvalue (“-” means loss)|||
||-1,797,048.21|-2,270,020.67|
|Gain/(loss) from investment (“-”|||

2015 Quarterly One Report of Wuhan Boiler Company Limited
||||
|-|-|-|
|means loss)|||
|Including: income from investment|||
|on associates and joint ventures|||
|Ⅱ. Business profit (“-” means loss)|16,760,585.61|23,772,141.72|
|Add: non-business income|80,570.73|130,766.17|
|Including: Gains on disposal of|||
|non-current assets|||
|Less: non-business expense||4,544.11|
|Including: Losses on disposal of|||
|non-current assets|||
|Ⅲ. Total profit (“-” means loss)|16,841,156.34|23,898,363.78|
|Less: income tax expense|3,061,488.15|-373,913.81|
|Ⅳ. Net profit (“-” means loss)|13,779,668.19|24,272,277.59|
|V. After-tax net amount of other|||
|comprehensive incomes|||
|(I) Other comprehensive|||
|incomes that will not be reclassified|||
|into gains and losses|||
|1. Changes in net liabilities or|||
|assets with a defined benefit plan upon|||
|re-measurement|||
|2. Enjoyable shares in other|||
|comprehensive incomes in investees|||
|that cannot be reclassified into gains|||
|and losses under the equity method|||
|(II) Other comprehensive|||
|incomes that will be reclassified into|||
|gains and losses|||
|1. Enjoyable shares in other|||
|comprehensive incomes in investees|||
|that will be reclassified into gains and|||
|losses under the equity method|||
|2. Gains and losses on fair|||
|value changes of available-for-sale|||
|financial assets|||
|3. Gains and losses on|||
|reclassifying held-to-maturity|||
|investments into available-for-sale|||
|financial assets|||

2015 Quarterly One Report of Wuhan Boiler Company Limited
||||
|-|-|-|
|4. Effective hedging gains|||
|and losses on cash flows|||
|5. Foreign-currency financial|||
|statement translation difference|||
|6. Other|||
|VI. Total comprehensive incomes|13,779,668.19|24,272,277.59|
|VII. Earnings per share|||
|(I) Basic earnings per share|||
|(II) Diluted earnings per share|||

5. Consolidated cash flow statement
Unit: RMB Yuan
||||
|-|-|-|
|Item|Jan.-Mar. 2015|Jan.-Mar. 2014|
|1. Cash flows from operating activities|||
|Cash received from sales of goods|||
||308,330,426.44|254,910,974.61|
|or rending of services|||
|Net increase of deposits received|||
|and held for others|||
|Net increase of loans from central|||
|bank|||
|Net increase of inter-bank loans|||
|from other financial institutions|||
|Cash received against original|||
|insurance contracts|||
|Cash received from reinsurance|||
|Net increase of client deposit and|||
|investment|||
|Net increase of disposal of|||
|financial assets measured at fair value|||
|of which changes are recorded into|||
|current gains and losses|||
|Cash received as interest, fees and|||
|commissions|||
|Net increase of inter-bank fund|||
|received|||
|Net increase of cash received|||
|under repurchasing|||

2015 Quarterly One Report of Wuhan Boiler Company Limited
||||
|-|-|-|
|Tax returned|18,854,662.49|19,875,480.75|
|Other cash received from|||
||199,440.64|76,033.67|
|operating activities|||
|Sub-total of cash inflow from operating|||
||327,384,529.57|274,862,489.03|
|activities|||
|Cash paid for goods and services|136,380,911.90|61,542,021.14|
|Net increase of loans and|||
|advances|||
|Net increase of deposit in central|||
|bank, banks and other financial|||
|institutions|||
|Cash paid for original contract|||
|claim|||
|Cash paid for interest, fees and|||
|commissions|||
|Cash paid for policy dividend|||
|Cash paid to and for employees|42,272,544.71|37,424,330.94|
|Cash paid for all types of taxes|4,130,671.73|4,624,917.67|
|Other cash paid relating to|||
||9,150,612.05|8,076,452.40|
|operating activities|||
|Sub-total of cash outflows from|||
||191,934,740.39|111,667,722.15|
|operating activities|||
|Net cash flows from operating|||
||135,449,789.18|163,194,766.88|
|activities|||
|2. Cash flows from investing activities|||
|Cash received from retraction of|||
|investment|||
|Cash received from investment|||
|income|||
|Net cash received from disposal of|||
|fixed assets, intangible assets and other||55,663.20|
|long-term assets|||
|Net cash received from disposal of|||
|subsidiaries and other operating units|||
|Other cash received relating to|||
||12,161.78|172,518.27|
|investing activities|||
|Sub-total of cash inflows of investing|||
||12,161.78|228,181.47|
|activities|||

2015 Quarterly One Report of Wuhan Boiler Company Limited
||||
|-|-|-|
|Cash paid for acquisition of fixed|||
|assets, intangible assets and other|4,724,760.96|488,697.94|
|long-term assets|||
|Cash paid for acquisition of|||
|investments|||
|Net increase of pledge loans|||
|Net cash paid for acquisition of|||
|subsidiaries and other operating units|||
|Other cash paid relating to|||
|||299,513.84|
|investing activities|||
|Sub-total of cash outflows of investing|||
||4,724,760.96|788,211.78|
|activities|||
|Net cash flow from investing activities|-4,712,599.18|-560,030.31|
|3. Cash flows from financing activities|||
|Cash received from investment|||
|Including: cash received from|||
|minority shareholders of subsidiaries|||
|Cash received from borrowings|350,000,000.00|250,800,000.00|
|Cash received from bonds issuing|||
|Other cash received relating to|||
||63,524,000.00||
|financing activities|||
|Sub-total of cash inflows of financing|||
||413,524,000.00|250,800,000.00|
|activities|||
|Cash paid for repayment of|||
||403,000,000.00|200,000,000.00|
|borrowings|||
|Cash paid for dividends, profit|||
||19,430,880.84|32,339,309.99|
|distribution or interest|||
|Including: dividends or profits|||
|paid to minority shareholders by|||
|subsidiaries|||
|Other cash paid relating to|||
|financing activities|||
|Sub-total of cash outflows of financing|||
||422,430,880.84|232,339,309.99|
|activities|||
|Net cash flow from financing activities|-8,906,880.84|18,460,690.01|
|4. Effect of foreign exchange rate|||
||-21,111,850.55|447,655.00|
|changes on cash and cash equivalents|||
|5. Net increase in cash and cash|100,718,458.61|181,543,081.58|

2015 Quarterly One Report of Wuhan Boiler Company Limited
||||
|-|-|-|
|equivalents|||
|Add: cash and cash equivalents at|||
||6,682,825.97|8,283,224.28|
|the beginning of this period|||
|6. Cash and cash equivalents at the end|||
||107,401,284.58|189,826,305.86|
|of this period|||

6. Cash flow statement of the Company
Unit: RMB Yuan
||||
|-|-|-|
|Item|Jan.-Mar. 2015|Jan.-Mar. 2014|
|1. Cash flows from operating activities|||
|Cash received from sales of goods|||
||308,008,406.59|254,910,974.61|
|or rending of services|||
|Tax returned|18,854,662.49|19,875,480.75|
|Other cash received from|||
||199,440.64|76,033.67|
|operating activities|||
|Sub-total of cash inflow from operating|||
||327,062,509.72|274,862,489.03|
|activities|||
|Cash paid for goods and services|136,380,911.90|61,542,021.14|
|Cash paid to and for employees|42,272,544.71|37,424,330.94|
|Cash paid for all types of taxes|4,130,671.73|4,624,917.67|
|Other cash paid relating to|||
||9,150,582.05|8,078,924.89|
|operating activities|||
|Sub-total of cash outflows from|||
||191,934,710.39|111,670,194.64|
|operating activities|||
|Net cash flows from operating|||
||135,127,799.33|163,192,294.39|
|activities|||
|2. Cash flows from investing activities|||
|Cash received from retraction of|||
|investment|||
|Cash received from investment|||
|income|||
|Net cash received from disposal of|||
|fixed assets, intangible assets and other||55,663.20|
|long-term assets|||
|Net cash received from disposal of|||
|subsidiaries and other operating units|||
|Other cash received relating to|10,561.72|172,518.27|

2015 Quarterly One Report of Wuhan Boiler Company Limited
||||
|-|-|-|
|investing activities|||
|Sub-total of cash inflows of investing|||
||10,561.72|228,181.47|
|activities|||
|Cash paid for acquisition of fixed|||
|assets, intangible assets and other|4,724,760.96|488,697.94|
|long-term assets|||
|Cash paid for acquisition of|||
|investments|||
|Net cash paid for acquisition of|||
|subsidiaries and other operating units|||
|Other cash paid relating to|||
|||299,513.84|
|investing activities|||
|Sub-total of cash outflows of investing|||
||4,724,760.96|788,211.78|
|activities|||
|Net cash flow from investing activities|-4,714,199.24|-560,030.31|
|3. Cash flows from financing activities|||
|Cash received from investment|||
|Cash received from borrowings|350,000,000.00|250,800,000.00|
|Cash received from issuing bonds|||
|Other cash received relating to|||
||63,524,000.00||
|financing activities|||
|Sub-total of cash inflows of financing|||
||413,524,000.00|250,800,000.00|
|activities|||
|Cash paid for repayment of|||
||403,000,000.00|200,000,000.00|
|borrowings|||
|Cash paid for dividends, profit|||
||19,430,880.84|32,339,309.99|
|distribution or interest|||
|Other cash paid relating to|||
|financing activities|||
|Sub-total of cash outflows of financing|||
||422,430,880.84|232,339,309.99|
|activities|||
|Net cash flow from financing activities|-8,906,880.84|18,460,690.01|
|4. Effect of foreign exchange rate|||
||-21,111,850.55|447,655.00|
|changes on cash and cash equivalents|||
|5. Net increase in cash and cash|||
||100,394,868.70|181,540,609.09|
|equivalents|||
|Add: cash and cash equivalents at|||
||4,990,124.65|6,722,513.86|
|the beginning of this period|||

2015 Quarterly One Report of Wuhan Boiler Company Limited
||||
|-|-|-|
|6. Cash and cash equivalents at the end|||
||105,384,993.35|188,263,122.95|
|of this period|||

II. Audit report
Is this report audited?
□
Yes
√
No
This report is not audited.