Bengang Steel Plates Co., Ltd. Interim Report 2015 Full Text Bengang Steel Plates Co., Ltd.
Interim Report 2015
August 2015
Bengang Steel Plates Co., Ltd. Interim Report 2015 Full Text Chapter I. Important Prompts, Table of Contents, and Definitions The Board of Directors, the Supervisory Committee, the directors, the supervisors, and executives 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 attended the board meeting on which this report was examined.
The Company will not distribute cash dividend or bonus shares, neither capitalizing of common reserves for the report period.
Mr. Zhao Zhongmin– the responsible person of the Company, Mr. Han Ge– the CFO, and Mr. Wang Shaoyu– the accounting manager declares: the truthfulness, accuracy, and completeness of the financial report in the Interim Report are guaranteed.
Bengang Steel Plates Co., Ltd. Interim Report 2015 Full Text Table of Content
Chapter I. Important Prompts, Table of Contents, and Definitions ..........................................................................................................2 Chapter II. Company Profile....................................................................................................................................................................5 Chapter III. Financial Highlights .............................................................................................................................................................7 Chapter IV. Board ofDirectors‟ Report ...................................................................................................................................................9 Chapter V. Significant Events ............................................................................................................................................................. 16 Chapter VI. Change of Share Equity and Shareholders ......................................................................................................................... 24 Chapter VII. Particulars about Preference Shares .................................................................................................................................. 27 Chapter VIII. Particulars about the Directors, Supervisors and Senior Executives ............................................................................... 28 Chapter IX. Financial Report ................................................................................................................................................................. 29
Bengang Steel Plates Co., Ltd. Interim Report 2015 Full Text Glossary
||||
|-|-|-|
|Terms|Defined as|Description|
|Bengang Bancai, Bengang Steel, the Company, the Listed|||
||Defined as|Bengang Steel Plates Co., Ltd.|
|Company|||
|Bengang Group, the Group|Defined as|Bengang Group Co., Ltd.|
|Bengang Co.|Defined as|Benxi Steel (Group) Co., Ltd.|
|||Liaoning State-owned Asset Supervisory and|
|Liaoning Provincial State-asset Administration|Defined as||
|||Management Committee|
|SSE|Defined as|Shenzhen Stock Exchange|
|Bengang Puxiang|Defined as|Bengang Puxiang Cool Rolling Steel Sheet Co., Ltd.|

Bengang Steel Plates Co., Ltd. Interim Report 2015 Full Text Chapter II. Company Profile
I. Company profile
|||||
|-|-|-|-|
|Stock ID|Bengang Bancai, Bengangban B|Stock Code|000761、200761|
|Stock Exchange Listed in|Shenzhen Stock Exchange|||
|Company Name in Chinese|Bengang Steel Plates Co., Ltd.|||
|Abbreviation in Chinese (if any)|Bengang Bancai|||
|Company Name in English|BENGANG STEEL PLATES CO.,LTD.|||
|Short form of Company Name in English|BSP|||
|Legal representative:|Zhao Zhongmin|||

II. Contacts
||||
|-|-|-|
||Secretary of the Board|Representative of Stock Affairs|
|Name|Zhang Jichen|Tong Weigang|
||No.16, Renmin Road, Pingshan District, Benxi City, Liaoning|No.16, Renmin Road, Pingshan District, Benxi City,|
|Address|||
||Province|Liaoning Province|
|Tel.|024-47828360|024-47827003|
|Fax.|024-47824158|024-47827004|
|Email.|bgbczjc761@126.com|bgbc761@126.com|

III. Other info.
1. Contacts
Any change to the registered address, office address, postal code, official website, and email address of the Company?
[] Applicable;[V] Not applicable
None of the official presses, website, and place of enquiry has been changed in the report period. For details please find the Annual Report 2014.
2. Information inquiry
Whether the place for information enquiry has been changed in the report term
[] Applicable;[V] Not applicable
None of the official presses, website, and place of enquiry has been changed in the report period. For details please refer to Annual
Repot 2014.
Bengang Steel Plates Co., Ltd. Interim Report 2015 Full Text 3. Change of business registration
Whether the business registration has been changed in the report period?
[] Applicable;[V] Not applicable
None of the registration date and place, the license number, tax number, organization number has been changed in the report period. For details please find Annual Report 2014.
Bengang Steel Plates Co., Ltd. Interim Report 2015 Full Text Chapter III. Financial Highlights
I. Main accounting data and indices
Are there any retrospective adjustment or restatement of financial information of previous year due to change of accounting policies or correcting of accounting errors?
[] Yes[V] No
|||||
|-|-|-|-|
|||Same period last||
||This report term||Increase/decrease (%)|
|||year||
|Turnover (RMB)|16,344,915,161.18|19,812,676,281.81|-17.50%|
|Net profit attributable to shareholders of the listed|128,007,136.26|173,894,309.64||
||||-26.39%|
|company (yuan)||||
|Net profit attributable to the shareholders of the listed||||
|company and after deducting of non-recurring|105,281,258.76|152,775,370.68|-31.09%|
|gain/loss(RMB)||||
|Net Cash flow generated by business operation (RMB)|-2,344,037,353.22|-1,222,463,099.76|-91.75%|
|Basic earnings per share (Yuan/share)|0.04|0.06|-33.33%|
|Diluted earnings per share (Yuan/share)|0.04|0.06|-33.33%|
|Net income on asset, weighted|0.83%|1.14%|-0.31%|
||Ended this report||Changed at end of report period|
|||End of prev. year||
||term||over end of previous period|
|Gross Assets (RMB)|45,521,698,127.16|49,170,603,030.67|-7.42%|
|Net asset attributable to owners of the PLC|15,366,607,525.78|15,384,562,323.08|-0.12%|

 II. Differences in accounting information under IAS and domestic accounting standard 1. Differences between the net profit and net asset in the financial reports prepared under IAS and Chinese Accounting Standard
[] Applicable;[V] Not applicable
No difference between the net profit and net asset in the financial reports prepared under IAS and Chinese Accounting Standard for the report period.
2. Differences between the net profit and net asset in the financial reports prepared under IAS and Chinese Accounting Standard
[] Applicable;[V] Not applicable
No difference between the net profit and net asset in the financial reports prepared under IAS and Chinese Accounting Standard for
the report period.
Bengang Steel Plates Co., Ltd. Interim Report 2015 Full Text III. Non-recurring gain/loss items and amounts
[V] Applicable Not applicable
In RMB Yuan
||||
|-|-|-|
|Items|Amount|Remarks|
|Gain/loss from disposal of non-current assets (includes the recovered part of asset impairment provision|-17,733,564.05||
|already provided)|||
|Gains and losses included in the current period of government subsidies, excluding those government|31,328,000.00||
|grants which are closely related to normal business and in line with national policy , or in accordance with|||
|fixed standards or quantities|||
|Gain/loss from commissioned investment or assets|6,584,315.11||
|Gain/loss from debt reorganization|6,439,698.87||
|Other non-business income and expenditures other than the above|1,527,544.44||
|Less: Influenced amount of income tax|5,390,419.82||
|Influence on minority shareholders‟ equity (after tax)|29,697.05||
|Total|22,725,877.50|--|

 If the company defines those items to recurring gain/loss items, which were defined by “Regulations of Information Disclosure of PLCs, Explanation No.1 - Non-recurring gain/loss” as non-recurring gain/loss, please provide reason here.
[] Applicable;[V] 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. Interim Report 2015 Full Text Chapter IV. Board ofDirectors’ Report
I. Business overview
In the report period, the Company has been doing all efforts to overcome the growing pressure from the national economy. By concentrating on development obstructs, upgrading industrial structure, and management innovation, the Company achieved steady development in a new dynamic balance.
On the basis of100% sales on production ratio, the Company has been expanding its products in terms of product lines and sales coverage. In the first half of 2015, the Company has accomplished output of: iron of 5.0251 million tons, an increase of1.79%; steel of 4.9420 million tons, an decrease of0.08%; hot-rolled plate of 6.1004 million tons,6.19% of increase; cool-rolled plate of 1.8764 million tons, an increase of1.48%; turnover of RMB16,344,915,200, a decrease of17.5%; net profit attributable to the parent company of RMB128,007,100, a decrease of26.39%.
Reinforce cost control by refining of coal and mine composition; reduce spare part consuming by recycling; reduce energy
consuming by technical reconstruction and promoting of new researches.
Put innovation at the core of overall development, accelerate product structure refining and quality lifting, promote application of state-of-art technologies, enlarge market share of production with high value-adding, aiming at increasing of profitability.
Fully implement the environmental policies of the provincial and municipal government. Pollution control approaches were achieved by accelerating of key environmental projects.
The Company made no modification on the production plan and strategic prospect on the 2nd half of year. The Company will do all best to achieve the business targets setout at the beginning of year.
II. Analysis of main business
Change in main financial data
In RMB Yuan
||||||
|-|-|-|-|-|
|||Same period last|Change over same||
||This report term|||Cause of change|
|||year|period last year||
|Turnover|16,344,915,161.18|19,812,676,281.81|-17.50%||
|Operation cost|14,901,549,350.57|18,139,126,080.72|-17.85%||
|Sales expense|478,349,279.14|372,505,417.15|28.41%||
||377,591,047.45|622,556,447.37||Mainly because transferring of rental for|
|Administrative expense|||-39.35%||
|||||2300 hot rolling line to cost of this period|
|Financial expenses|391,399,627.37|412,018,386.28|-5.00%||
||-2,419,204.92|10,441,665.91||Mainly because decrease of deferred|
|Income tax expenses|||-123.17%||
|||||income tax of the period|
|Input to R&D|903,624,000.00|791,046,000.00|14.23%||
|Cash flow generated by|-2,344,037,353.22|-1,222,463,099.76||Mainly because increasing of cash paid|
||||91.75%||
|business operation, net||||for purchasing of goods and services|
||-1,388,185,769.88|-1,042,136,185.91||Mainly because increasing of undue|
|Net cash flow generated by|||||
||||33.21%|financial instruments purchased this|
|investment|||||
|||||period|
|Net cash flow generated by|-2,532,199,491.79|272,112,422.68|||
||||-1,030.57%|Increase of loans repaid this period|
|financing|||||
|Net increasing of cash and|-6,272,852,029.06|-1,991,490,039.71||Decrease of cash flow from business|
||||214.98%||
|cash equivalents||||operation and financial operation|

Material changes in profit composition or sources
Bengang Steel Plates Co., Ltd. Interim Report 2015 Full Text[] Applicable;[V] Not applicable
No change in profit composition or sources in the report period.
Business plans scheduled in Share Offer Prospectus or Capital Reconstruction Report which are extended to the report period[] Applicable;[V] Not applicable
No business plans scheduled in Share Offer Prospectus or Capital Reconstruction Report which are extended to the report period Implementation and progress of business plan provided by the previous periodic report:
None
III. Main business composition
In RMB Yuan
||||||||
|-|-|-|-|-|-|-|
||||Gross profit|Change in turnover|Change in operation|Change in gross|
||Turnover|Operation cost|||||
||||ratio %|YoY|cost YoY|profit YoY|
|On Industries|||||||
|Industry|15,440,544,823.29|14,122,473,154.22|8.54%|-17.49%|-17.81%|0.36%|
|On Products|||||||
|Steel plate|15,214,556,106.38|13,938,855,147.86|8.38%|-17.12%|-21.22%|0.42%|
|Steel|||||||
|billet|||||||
|Others|225,988,716.91|183,618,006.36|18.75%|-35.00%|-51.31%|-1.33%|
|On territories|||||||
|Northeast|3,400,939,441.29|3,160,353,455.24|7.07%|2.42%|3.38%|-0.86%|
|North|2,120,677,111.58|1,976,096,000.96|6.82%|-18.15%|-16.94%|-1.36%|
|East|4,857,686,835.29|4,432,201,274.93|8.76%|-32.24%|-32.67%|0.58%|
|Northwest|41,469,735.96|37,948,322.83|8.49%|11.85%|11.47%|0.31%|
|Mid-south|545,719,150.21|499,964,532.31|8.38%|-15.62%|-15.81%|0.20%|
|Export|4,474,052,548.96|4,015,909,567.95|10.24%|-9.58%|-11.45%|1.89%|

 IV. Analyze of competitive edge
There was not any change to the core competition of the Company, and the Company was in normal operation. V. Investment
1. External equity investment
(1) External investment
[] Applicable;[V] Not applicable
No external investment in the report period.
Bengang Steel Plates Co., Ltd. Interim Report 2015 Full Text (2) Shareholding in financial enterprises
[] Applicable;[V] Not applicable
No holding of shares of financial institutions in the report period.
(3) Stock investment
[] Applicable;[V] Not applicable
No securities investment in the report period.
(4) Statement of holding equities in other PLCs
[] Applicable;[V] Not applicable
The Company was not holding shares of any other PLC as of the end of report period.
2. Trusted financing, derivate instruments, and trusted loans
(1) Trusted financing
[V] Applicable Not applicable
In RMB10 thousand
|||||||||||||
|-|-|-|-|-|-|-|-|-|-|-|-|
|||||||||Principal|Impairment||Actual|
|||Related||||||||||
|Title of|||Type of|Amount|Started|Expired|Mean of|retrieved|provision|Predicted|gain/loss|
||Relationship|transaction||||||||||
|entrustee|||product|entrusted|on|on|reward|this|provided (if|income|of the|
|||or not||||||||||
|||||||||period|any)||period|
|ICBC Ltd.|Financial||Capital||Jan 13|Feb 17|On|||||
|||No||15,000||||15,000||51.78|51.78|
|Benxi Branch|Institution||guaranteed||2015|2015|agreement|||||
|Shanghai||||||||||||
|Pudong||||||||||||
||Financial||Capital||Feb 11|Feb 28|On|||||
|Development||No||15,000||||15,000||26.9|26.9|
||Institution||guaranteed||2015|2015|agreement|||||
|Bank Benxi||||||||||||
|Branch||||||||||||
|Shengjing||||||||||||
||Financial||Capital||Feb 15|Mar 25|On|||||
|Bank Benxi||No||40,000||||40,000||166.58|166.58|
||Institution||guaranteed||2015|2015|agreement|||||
|Branch||||||||||||
|Guangdong||||||||||||
|Development|Financial||Capital||Apr 3|Apr 16|On|||||
|||No||30,000||||30,000||36.83|36.83|
|Bank Benxi|Institution||guaranteed||2015|2015|agreement|||||
|Branch||||||||||||
|Guangdong||||||||||||
|Development|Financial||Capital||Apr 3|Apr 24|On|||||
|||No||15,000||||15,000||31.14|31.14|
|Bank Benxi|Institution||guaranteed||2015|2015|agreement|||||
|Branch||||||||||||
|ICBC Ltd.|Financial||Capital||Mar 6|Apr 10|On|||||
|||No||10,000||||10,000||34.52|34.52|
|Benxi Branch|Institution||guaranteed||2015|2015|agreement|||||
||||||Mar|||||||
|ICBC Ltd.|Financial||Capital|||Jun 29|On|||||
|||No||30,000|29|||30,000||310.68|310.68|
|Benxi Branch|Institution||guaranteed|||2015|agreement|||||
||||||2015|||||||
|ICBC Ltd.|Financial||Capital||Jun 26|July 31|On|||||
|||No||19,700||||||||
|Benxi Branch|Institution||guaranteed||2015|2015|agreement|||||
|Total||||174,700|--|--|--|155,000|0|658.43|658.43|
|||||Idle capital under the Company possession||||||||
|Resource of capital trusted||||||||||||
|Accumulated principal and gains overdue||||0||||||||

Bengang Steel Plates Co., Ltd. Interim Report 2015 Full Text
|||
|-|-|
|Date of announcement made by the Board about||
||April 20, 2015|
|approval of trusted financial service||
|Date of announcement made by the Shareholders‟||
|Meeting about approval of trusted financial service||

(2) Derivate instrument investment
[] Applicable;[V] Not applicable
No derivate instrument investment in the report period.
(3) Trusted loans
[] Applicable;[V] Not applicable
No trusted loans in the report period.
3. Using of proceeds from share placing.
[V] Applicable Not applicable
(1) Overall situation of capital from share issuing
[V] Applicable Not applicable
In RMB10 thousand
|||
|-|-|
|Total of proceeds|150,000|
|Total of proceeds invested in the report term|150,000|
|Total of proceeds invested|150,000|
|Statement on overall application of finance raised||
|The Company issued corporation bond of RMB1.5 billion in February 2015, and was all used to repay bank loans according||
|to the regulations.||

(2) Projects financed by share issuing
[] Applicable;[V] Not applicable
(3) Change of projects financed by proceeds
[] Applicable;[V] Not applicable
No change of projects financed by proceeds from share issuing.
(4) Projects financed by share issuing
||||
|-|-|-|
|Overview of projects|Date of disclosure|Index of information disclosure|

Bengang Steel Plates Co., Ltd. Interim Report 2015 Full Text 4. Analyze of main subsidiaries and affiliates
[V] Applicable Not applicable
Profiles of main subsidiaries and affiliates
In RMB Yuan
|||||||||||
|-|-|-|-|-|-|-|-|-|-|
||||Major|||||||
|Name of||||Registered||||Operation||
||Type of business|Industry|products or||Gross Assets|Net asset|Turnover||Net profit|
|companies||||capital||||profit||
||||service|||||||
|Guangzhou||||||||||
|Bengang||Steel rolling|||183,480,513.5||633,721,440.3|9,798,590.9||
||Subsidiaries||Sales of steel|1,000,000.00||61,857,957.14|||7,322,897.37|
|Trade Co.,||business|||2||0|3||
|Ltd.||||||||||
|Shanghai||||||||||
|Bengang||Steel rolling|||581,013,309.8|131,364,904.0|1,651,753,652|27,514,300.||
||Subsidiaries||Sales of steel|19,200,000.00|||||20,671,272.22|
|Metallurgy||business|||5|7|.13|24||
|Tech. Ltd.||||||||||
|Bengang Steel||||||||||
|Plate||Steel rolling|Production of||738,500,745.2|643,602,243.2|127,540,007.5|3,000,315.1||
||Subsidiaries|||10,000,000.00|||||858,693.23|
|Liaoyang Orel||business|pellet||8|2|1|0||
|Ball Co., Ltd.||||||||||
|Dalian||||||||||
|Benruitong||||||||||
||||Processing|||||||
|Automobile||Steel rolling||100,000,000.0|524,688,413.3||355,855,893.5|-4,969,007.||
||Subsidiaries||and sales of|||92,369,792.42|||-4,855,875.58|
|Material||business||0|1||3|20||
||||steel|||||||
|Technologies||||||||||
|Co., Ltd.||||||||||
|Bengang||||||||||
|Puxiang Cool|||Processing|||||||
|||Steel rolling||1,920,000,000|4,196,323,026|1,747,779,921|2,906,688,928|74,708,411.||
|Rolling Steel|Subsidiaries||and sales of||||||74,708,411.10|
|||business||.00|.77|.96|.01|10||
|Sheet Co.,|||steel|||||||
|Ltd.||||||||||
|Changchun||||||||||
|||Steel rolling|||||261,723,885.4|1,510,240.6||
|Bengang Steel|Subsidiaries||Sales of steel|500,000.00|71,463,579.06|12,045,876.50|||1,132,680.49|
|||business|||||1|6||
|Sales Ltd.||||||||||
|Haerbin||||||||||
|Bengang||Steel rolling|||||120,243,768.8|1,970,146.9||
||Subsidiaries||Sales of steel|500,000.00|46,659,641.64|2,773,974.22|||1,970,146.99|
|International||business|||||7|9||
|Trading Ltd.||||||||||
|Nanjing||||||||||
|Bengang Steel||Steel rolling||||||||
||Subsidiaries||Sales of steel|1,150,000.00|41,680,861.21|29,725,551.61|38,443,954.15|445,114.72|333,836.04|
|Material Sales||business||||||||
|Ltd.||||||||||
|Wuxi||||||||||
|||Steel rolling|||||404,838,748.0|3,108,008.7||
|Bengang Steel|Subsidiaries||Sales of steel|1,000,000.00|70,055,762.77|13,934,867.04|||2,822,563.44|
|||business|||||1|6||
|Sales Ltd.||||||||||
|Xiamen||||||||||
|||Steel rolling||||||||
|Bengang Steel|Subsidiaries||Sales of steel|500,000.00|26,903,212.54|14,676,966.12|36,027,277.27|682,476.56|1,796,426.50|
|||business||||||||
|Sales Ltd.||||||||||
|Yantai||||||||||
|||Steel rolling|||265,151,889.4||636,212,436.1|4,058,230.8||
|Bengang Steel|Subsidiaries||Sales of steel|500,000.00||80,583,431.34|||3,118,673.15|
|||business|||7||6|7||
|Sales Ltd.||||||||||
|Tianjin||||||||||
|||Steel rolling|||131,967,404.8||204,558,232.9|-9,095,996.||
|Bengang Steel|Subsidiaries||Sales of steel|3,000,000.00||32,764,885.27|||-9,095,996.33|
|||business|||4||3|33||
|Trading Ltd.||||||||||
|Suzhou||||||||||
|Bengang|Shareholding|Steel rolling|||||171,517,270.1|||
||||Sales of steel|20,000,000.00|54,433,131.19|20,017,881.53||54,537.57|49,083.81|
|Industrial Co.,|company|business|||||8|||
|Ltd.||||||||||
|China Steel||||||||||
|Shanghai||||||||||
||Shareholding|Steel rolling|||633,549,816.7||419,365,032.4|-31,557,771||
|Steel|||Sales of steel|89,042,954.00||75,220,249.79|||-31,562,972.39|
||company|business|||4||0|.89||
|Processing||||||||||
|Co., Ltd.||||||||||
|Zhejiang||||||||||
|Bengang||||||||||
||Shareholding|Steel rolling||||||||
|Jingrui Steel|||Sales of steel|10,000,000.00|80,145,542.10|11,874,554.19|86,448,637.43|454,055.55|408,848.74|
||company|business||||||||
|Processing||||||||||
|Ltd.||||||||||

5. Major projects using non-raised capital
[V] Applicable Not applicable
Bengang Steel Plates Co., Ltd. Interim Report 2015 Full Text In RMB10 thousand
|||||||||
|-|-|-|-|-|-|-|-|
||||Accumulation of|Investment||Date of|Index of|
||Planned|Amount invested|||Turnover of|||
|Projects|||actual input at end of|progress of the||disclosure (if|information|
||investment|this report term|||the project|||
||||period|project||any)|disclosed|
|Information system project|39,038|645.71|19,011.99|90.00%||||
|Environmental reconstruction of||||||||
|converter and the 180t|177,864.4|1,264.51|14,303.5|90.00%||||
|dephosphorization converter||||||||
|Production line of||||||||
|electro-galvanized steel plates for|122,470|8,946.14|117,997.08|95.00%||||
|automobile||||||||
|Cool rolling high strength steel||||||||
||610,000|55,140.17|247,650.97|50.00%||||
|rebuilding||||||||
|hot galvanizing project of No.3 hot||||||||
||86,918|15,089.1|15,089.1|20.00%||||
|rolling factory||||||||
|The new energy control center||||||||
||28,410|1,247.33|23,106.85|90.00%||||
|project||||||||
|Reconstruction project of coke dry||||||||
||135,413.2|3,632.96|119,991.62|90.00%||||
|cooling of No.2 Coke Workshop||||||||
|360 M2 sintering machine|111,178.7|28,827.29|75,482.97|70.00%||||
|Silicon steel project|93,445|883.76|883.76|95.00%||||
|Reconstruction of hot-rolling||||||||
||26,020|281.57|281.57|90.00%||||
|equipment||||||||
|Softening water supplying project|7,554|325.95|0|100.00%||||
|Reconstruction of South Gate of||||||||
||5,598|1,162.25|5,347.03|95.00%||||
|Transportation Dept.||||||||
|Total|1,443,909.3|117,446.74|639,146.44|--|--|--|--|

 VI. Business performance forecast for Jan-Sept 2015
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;[V] Not applicable
VII. Statement of the Board on the “Non-standardauditors’ report” issued by the CPA on the current report period
[] Applicable;[V] Not applicable
VIII. TheBoard’s statement on “Non-standardAuditors’ Report” of previous year
[] Applicable;[V] Not applicable
IX. Profit distribution carried out in the report period
Execution or adjustment of profit distribution, especially cash dividend, and capitalizing of reserves in the report period.
[] Applicable;[V] Not applicable
None of cash dividend, bonus shares, or capitalizing of common reserves was carried out for the previous year.
X. Profit distribution for the report period.
[] Applicable;[V] Not applicable
None of cash dividend, bonus shares, or capitalizing of common reserves will be carried out for the first half of year.
Bengang Steel Plates Co., Ltd. Interim Report 2015 Full Text XI. Reception of investigations, communications, or interviews
[V] Applicable Not applicable
|||||||
|-|-|-|-|-|-|
||||||Main content involved and|
|Time/date|Place|Way|Type of visitors|Visitors||
||||||material provided|
|||||Huatai Securities,||
||Meeting room No.||||Production and operation|
|June 10, 2015||Field research|Institute|Fuguo Foundation,||
||2, Jinshan Hotel||||situation|
|||||Taikang Capital||

Bengang Steel Plates Co., Ltd. Interim Report 2015 Full Text Chapter V. Significant Events
I. Administrative Position
There is no difference between the actual situation of the Company and the requirements of the CSRC.
II. Lawsuit issues
Material lawsuit issues
[] Applicable;[V] Not applicable
In the report period, the Company had no material lawsuits or arbitrations.
Other lawsuit issues
[] Applicable;[V] Not applicable
III. Media queries
[] Applicable;[V] Not applicable
No media queries raised in the report period.
IV. Receivership and bankruptcy
[] Applicable;[V] Not applicable
No bankruptcy or capital reorganizing issues occurred in the report period.
V. Asset transactions
1. Acquisition of assets
[] Applicable;[V] Not applicable
No acquisition of assets at the end of report period.
2. Disposal of assets
[] Applicable;[V] Not applicable
No disposal of assets at the end of report period.
3. Merger of entities
[] Applicable;[V] Not applicable
No merger or takeover of entities in the report period.
Bengang Steel Plates Co., Ltd. Interim Report 2015 Full Text VI. Implementation of share incentive program and influences
[] Applicable;[V] Not applicable
No stock incentive plan composed nor implemented in the report period.
VII. Material related transactions
1. Related transactions related to daily operation
[V] Applicable Not applicable
|||||||||||||||
|-|-|-|-|-|-|-|-|-|-|-|-|-|-|
||||||||||||Market|||
|||||Principle of|||Ratio|Amount of|Exceeded|||||
||||Subjects of||Price|Amount of|||||price of||Index of|
|Related||Type of||pricing the|||in|trade|the|Way of||Date of||
||Relationship||the related||of|trade|||||similar||information|
|parties||trade||related|||similar|approved|approved|payment||disclosure||
||||transactions||trade|RMB0‟000|||||trade||disclosure|
|||||transactions|||trades|(RMb0‟000)|amount?|||||
||||||||||||available|||
|||Purchase||||||||||||
|Benxi Steel||||||||||||||
|||of goods||||||||||||
|(Group) Co.,|||Maintaining|||15,002.04|1.01%|32,000|No|||||
|||and||||||||||||
|Ltd.||||||||||||||
|||services||||||||||||
|||Purchase||||||||||||
|Benxi Steel||||||||||||||
|||of goods||||||||||||
|(Group) Co.,|||Land rent|||2,871.3|0.19%|||||||
|||and||||||||||||
|Ltd.||||||||||||||
|||services||||||||||||
|Bengang||||||||||||||
|||Purchase||||||||||||
|Stainless||||||||||||||
|||of goods|Products in|||||||||||
|Cool-rolling||||||30.11|0.00%|1,000|No|||||
|||and|stock|||||||||||
|(Dandong)||||||||||||||
|||services||||||||||||
|Co., Ltd.||||||||||||||
|Benxi Steel||Purchase||||||||||||
|(Group)||of goods||||||||||||
||||Labor service|||334.61|0.02%|||||||
|Mining Co.,||and||||||||||||
|Ltd.||services||||||||||||
|Benxi Steel||Purchase||||||||||||
|(Group)||of goods||||||||||||
||||Raw materials|||269,369.22|18.10%|550,000|No|||||
|Mining Co.,||and||||||||||||
|Ltd.||services||||||||||||
|Benxi Steel||Purchase||||||||||||
|(Group)||of goods||||||||||||
||||Transportation|||7.2|0.00%|||||||
|Mining Co.,||and||||||||||||
|Ltd.||services||||||||||||
|Benxi Steel||||||||||||||
|||Purchase||||||||||||
|(Group)||||||||||||||
|||of goods||||||||||||
|Metallurgy|||Raw materials|||6,326.65|0.43%|25,000|No|||||
|||and||||||||||||
|Residues||||||||||||||
|||services||||||||||||
|Co., Ltd.||||||||||||||
|Benxi Steel||||||||||||||
|||Purchase||||||||||||
|(Group)||||||||||||||
|||of goods||||||||||||
|Steel Process|||Process fee|||84.52|0.01%|800|No|||||
|||and||||||||||||
|and Logistics||||||||||||||
|||services||||||||||||
|Co., Ltd.||||||||||||||
|Benxi Steel||||||||||||||
|||Purchase||||||||||||
|(Group)||||||||||||||
|||of goods||||||||||||
|Real-estate|||Raw materials|||3,904.56|0.26%|8,000|No|||||
|||and||||||||||||
|Development||||||||||||||
|||services||||||||||||
|Co., Ltd.||||||||||||||
|Benxi Steel||Purchase||||||||||||
|(Group)||of goods||||||||||||
||||Spare parts|||6,866.96|0.46%|35,000|No|||||
|Machinery||and||||||||||||
|Co., Ltd.||services||||||||||||
|Benxi Steel||Purchase||||||||||||
|(Group)||of goods|Repairing|||||||||||
|||||||132.5|0.01%|||||||
|Machinery||and|services|||||||||||
|Co., Ltd.||services||||||||||||
|Benxi Steel||Purchase||||||||||||
|(Group)||of goods||||||||||||
||||Spare parts|||19.35|0.00%|||||||
|Construction||and||||||||||||
|Co., Ltd.||services||||||||||||
|Benxi Steel||Purchase||||||||||||
|(Group)||of goods|Engineering|||||||||||
|||||||18,539.7|1.25%|80,000|No|||||
|Construction||and|fee|||||||||||
|Co., Ltd.||services||||||||||||

Bengang Steel Plates Co., Ltd. Interim Report 2015 Full Text
||||||||
|-|-|-|-|-|-|-|
|Benxi Steel|Purchase||||||
|(Group)|of goods||||||
|||Raw materials|217.03|0.01%|||
|Construction|and||||||
|Co., Ltd.|services||||||
|Benxi Steel|Purchase||||||
|(Group)|of goods||||||
|||Transportation|207.38|0.01%|||
|Construction|and||||||
|Co., Ltd.|services||||||
|Benxi Steel|||||||
||Purchase||||||
|(Group)|||||||
||of goods||||||
|Industrial||Spare parts|132.08|0.01%|||
||and||||||
|Development|||||||
||services||||||
|Co., Ltd.|||||||
|Benxi Steel|||||||
||Purchase||||||
|(Group)|||||||
||of goods||||||
|Industrial||Raw materials|11,517.85|0.77%|45,000|No|
||and||||||
|Development|||||||
||services||||||
|Co., Ltd.|||||||
|Benxi Steel|||||||
||Purchase||||||
|(Group)|||||||
||of goods|Repairing|||||
|Industrial|||1,194.66|0.08%|||
||and|services|||||
|Development|||||||
||services||||||
|Co., Ltd.|||||||
|Benxi Steel|||||||
||Purchase||||||
|(Group)|||||||
||of goods||||||
|Industrial||Transportation|336.54|0.02%|||
||and||||||
|Development|||||||
||services||||||
|Co., Ltd.|||||||
|Benxi Steel|||||||
||Purchase||||||
|(Group)|||||||
||of goods|Project|||||
|Industrial|||7.57|0.00%|||
||and|payment|||||
|Development|||||||
||services||||||
|Co., Ltd.|||||||
|Benxi Steel|||||||
||Purchase||||||
|(Group)|||||||
||of goods|Material and|||||
|Construction|||262.22|0.02%|||
||and|parts|||||
|& Repairing|||||||
||services||||||
|Co., Ltd.|||||||
|Benxi Steel|||||||
||Purchase||||||
|(Group)|||||||
||of goods||||||
|Construction||Engineering|2,641.45|0.18%|25,000|No|
||and||||||
|& Repairing|||||||
||services||||||
|Co., Ltd.|||||||
||Purchase||||||
|Bengang|||||||
||of goods||||||
|Electronics||Raw materials|5,299.85|0.36%|||
||and||||||
|Co., Ltd.|||||||
||services||||||
||Purchase||||||
|Bengang|||||||
||of goods|Repairing|||||
|Electronics|||747.95|0.05%|20,000|No|
||and|services|||||
|Co., Ltd.|||||||
||services||||||
|Benxi Steel|||||||
||Purchase||||||
|(Group)|||||||
||of goods||||||
|Drilling||Spare parts|15.32|0.00%|1,000|No|
||and||||||
|Tools Co.,|||||||
||services||||||
|Ltd.|||||||
|Benxi Steel|||||||
||Purchase||||||
|New|||||||
||of goods|Labour|||||
|Business|||135.65|0.01%|1,200|No|
||and|security fee|||||
|Development|||||||
||services||||||
|Co., Ltd.|||||||
|Liaoning|Purchase||||||
|Metallurgy|of goods||||||
|||Spare parts|728.2|0.05%|1,500|No|
|Technician|and||||||
|College|services||||||
|Bengang|Purchase||||||
|Group|of goods||||||
|||Commission|14,372.66|0.97%|35,000|No|
|International|and||||||
|Trading Ltd.|services||||||
|Benxi Steel|||||||
|(Group)|Purchase||||||
|Information|of goods||||||
|||Spare parts|762.58|0.05%|5,000|No|
|& Automatic|and||||||
|Tech. Co.,|services||||||
|Ltd.|||||||
|Benxi Steel|Purchase||||||
|(Group)|of goods|Repairing|||||
||||480.75|0.03%|||
|Information|and|services|||||
|& Automatic|services||||||

Bengang Steel Plates Co., Ltd. Interim Report 2015 Full Text
||||||||
|-|-|-|-|-|-|-|
|Tech. Co.,|||||||
|Ltd.|||||||
|Benxi Steel|||||||
|(Group)|Purchase||||||
|Thermal|of goods||||||
|||Heating fee|615.12|0.04%|2,000|No|
|Power|and||||||
|Development|services||||||
|Co., Ltd.|||||||
|Benxi Steel|Purchase||||||
|(Group)|of goods|Engineering|||||
||||333.34|0.02%|5,000|No|
|Designing|and|fee|||||
|Institute|services||||||
|Benxi|||||||
||Purchase||||||
|Beiying Steel|||||||
||of goods||||||
|& Iron||Raw materials|310,161.47|20.84%|800,000|No|
||and||||||
|(Group) Co.,|||||||
||services||||||
|Ltd.|||||||
|Liaoning|||||||
||Purchase||||||
|Hengtong|||||||
||of goods|Raw materials|||||
|Metallurgy|||5,576.5|0.37%|12,000|No|
||and|and parts|||||
|Equipment|||||||
||services||||||
|Co., Ltd.|||||||
|Liaoning|||||||
||Purchase||||||
|Hengtai|||||||
||of goods|Raw materials|||||
|Heavy|||1,570.83|0.11%|6,000|No|
||and|and parts|||||
|Machine|||||||
||services||||||
|Co., Ltd.|||||||
|Liaoning|||||||
||Purchase||||||
|Hengtai|||||||
||of goods|Repairing and|||||
|Heavy|||882.4|0.06%|||
||and|service|||||
|Machine|||||||
||services||||||
|Co., Ltd.|||||||
||Sales of||||||
|Bengang|||||||
||goods||||||
|Electronics||Power supply|7.83|0.00%|300|No|
||and||||||
|Co., Ltd.|||||||
||services||||||
|Benxi|||||||
||Sales of||||||
|Beiying Steel|||||||
||goods|Material and|||||
|& Iron|||1,970.01|0.12%|120,000|No|
||and|parts|||||
|(Group) Co.,|||||||
||services||||||
|Ltd.|||||||
|Benxi|||||||
||Sales of||||||
|Beiying Steel|||||||
||goods||||||
|& Iron||Commission|337.88|0.02%|||
||and||||||
|(Group) Co.,|||||||
||services||||||
|Ltd.|||||||
|Benxi Steel|||||||
||Sales of||||||
|(Group)|||||||
||goods||||||
|Real-estate||Power supply|70.57|0.00%|||
||and||||||
|Development|||||||
||services||||||
|Co., Ltd.|||||||
|Benxi Steel|||||||
||Sales of||||||
|(Group)|||||||
||goods||||||
|Steel Process||Power supply|44.45|0.00%|||
||and||||||
|and Logistics|||||||
||services||||||
|Co., Ltd.|||||||
|Benxi Steel|||||||
||Sales of||||||
|(Group)|||||||
||goods||||||
|Steel Process||Products|14,167.07|0.87%|80,000|No|
||and||||||
|and Logistics|||||||
||services||||||
|Co., Ltd.|||||||
|Benxi Steel|Sales of||||||
|(Group)|goods||||||
|||Products|83.97|0.01%|||
|Machinery|and||||||
|Co., Ltd.|services||||||
|Benxi Steel|Sales of||||||
|(Group)|goods||||||
|||Power supply|1,070.14|0.07%|15,000|No|
|Machinery|and||||||
|Co., Ltd.|services||||||
|Benxi Steel|Sales of||||||
|(Group)|goods|Material and|||||
||||405.12|0.02%|||
|Machinery|and|parts|||||
|Co., Ltd.|services||||||
|Benxi Steel|Sales of||||||
|(Group)|goods||||||
|||Power supply|288.46|0.02%|||
|Construction|and||||||
|Co., Ltd.|services||||||
|Benxi Steel|Sales of|Material and|||||
||||4,909.85|0.30%|25,000|No|
|(Group)|goods|parts|||||

Bengang Steel Plates Co., Ltd. Interim Report 2015 Full Text
||||||||
|-|-|-|-|-|-|-|
|Construction|and||||||
|Co., Ltd.|services||||||
|Benxi Steel|Sales of||||||
|(Group)|goods||||||
|||Power supply|37,378.73|2.29%|120,000|No|
|Mining Co.,|and||||||
|Ltd.|services||||||
|Benxi Steel|Sales of||||||
|(Group)|goods|Material and|||||
||||4,361.93|0.27%|||
|Mining Co.,|and|parts|||||
|Ltd.|services||||||
|Benxi Steel|Sales of||||||
|(Group)|goods|Freight|||||
||||440.94|0.03%|||
|Mining Co.,|and|income|||||
|Ltd.|services||||||
|Benxi Steel|||||||
|(Group)|Sales of||||||
|Thermal|goods||||||
|||Power supply|2,089.59|0.13%|||
|Power|and||||||
|Development|services||||||
|Co., Ltd.|||||||
|Benxi Steel|||||||
|(Group)|Sales of||||||
|Thermal|goods|Material and|||||
||||491.42|0.03%|15,000|No|
|Power|and|parts|||||
|Development|services||||||
|Co., Ltd.|||||||
|Benxi Steel|||||||
|(Group)|Sales of||||||
|Thermal|goods|Freight|||||
||||5.91|0.00%|||
|Power|and|income|||||
|Development|services||||||
|Co., Ltd.|||||||
|Benxi Steel|||||||
||Sales of||||||
|(Group)|||||||
||goods||||||
|Industrial||Power supply|423.37|0.03%|||
||and||||||
|Development|||||||
||services||||||
|Co., Ltd.|||||||
|Benxi Steel|||||||
||Sales of||||||
|(Group)|||||||
||goods|Material and|||||
|Industrial|||2,408.17|0.15%|20,000|No|
||and|parts|||||
|Development|||||||
||services||||||
|Co., Ltd.|||||||
|Benxi Steel|||||||
||Sales of||||||
|(Group)|||||||
||goods||||||
|Construction||Power supply|56.1|0.00%|1,000|No|
||and||||||
|& Repairing|||||||
||services||||||
|Co., Ltd.|||||||
|Benxi Steel|||||||
||Sales of||||||
|(Group)|||||||
||goods|Material and|||||
|Construction|||0|0.00%|||
||and|parts|||||
|& Repairing|||||||
||services||||||
|Co., Ltd.|||||||
|Benxi Steel|||||||
||Sales of||||||
|(Group)|||||||
||goods||||||
|Metallurgy||Power supply|207.5|0.01%|||
||and||||||
|Residues|||||||
||services||||||
|Co., Ltd.|||||||
|Benxi Steel|||||||
||Sales of||||||
|(Group)|||||||
||goods|Material and|||||
|Metallurgy|||1,833.85|0.11%|||
||and|parts|||||
|Residues|||||||
||services||||||
|Co., Ltd.|||||||
|Benxi Steel|||||||
||Sales of||||||
|(Group)|||||||
||goods|Freight|||||
|Metallurgy|||0.24|0.00%|10,000|No|
||and|income|||||
|Residues|||||||
||services||||||
|Co., Ltd.|||||||
||Sales of||||||
|Benxi Steel|||||||
||goods||||||
|(Group) Co.,||Power supply|3,360.53|0.21%|15,000|No|
||and||||||
|Ltd.|||||||
||services||||||
||Sales of||||||
|Benxi Steel|||||||
||goods|Material and|||||
|(Group) Co.,|||357.69|0.02%|||
||and|parts|||||
|Ltd.|||||||
||services||||||
|Benxi Steel|Sales of||||||
|New|goods||||||
|||Power supply|19.01|0.00%|||
|Business|and||||||
|Development|services||||||

Bengang Steel Plates Co., Ltd. Interim Report 2015 Full Text
||||||||||||||
|-|-|-|-|-|-|-|-|-|-|-|-|-|
|Co., Ltd.|||||||||||||
||Sales of||||||||||||
|Dalian|||||||||||||
||goods||||||||||||
|Boluole Steel||Products|||290.65|0.02%|1,500|No|||||
||and||||||||||||
|Tube Ltd.|||||||||||||
||services||||||||||||
|Liaoning|||||||||||||
||Sales of||||||||||||
|Bengang|||||||||||||
||goods||||||||||||
|Steel & Iron||Products|||33,910.67|2.07%|90,000|No|||||
||and||||||||||||
|Trading Co.,|||||||||||||
||services||||||||||||
|Ltd.|||||||||||||
|Tianjin|||||||||||||
|Bengang|Sales of||||||||||||
|Steel Plate|goods||||||||||||
|||Products|||0|0.00%|||||||
|Processing|and||||||||||||
|and Delivery|services||||||||||||
|Co., Ltd.|||||||||||||
|Liaoning|||||||||||||
||Sales of||||||||||||
|Hengtong|||||||||||||
||goods||||||||||||
|Metallurgy||Power supply|||748.26|0.05%|10,000|No|||||
||and||||||||||||
|Equipment|||||||||||||
||services||||||||||||
|Co., Ltd.|||||||||||||
|Liaoning|||||||||||||
||Sales of||||||||||||
|Hengtong|||||||||||||
||goods|Material and|||||||||||
|Metallurgy|||||722.59|0.04%|||||||
||and|parts|||||||||||
|Equipment|||||||||||||
||services||||||||||||
|Co., Ltd.|||||||||||||
|Bengang|||||||||||||
||Sales of||||||||||||
|Stainless|||||||||||||
||goods|Material and|||||||||||
|Cool-rolling|||||78.44|0.00%|1,000|No|||||
||and|parts|||||||||||
|(Dandong)|||||||||||||
||services||||||||||||
|Co., Ltd.|||||||||||||
|Bengang|||||||||||||
||Sales of||||||||||||
|Stainless|||||||||||||
||goods|Material and|||||||||||
|Cool-rolling|||||121.71|0.01%|||||||
||and|parts|||||||||||
|(Dandong)|||||||||||||
||services||||||||||||
|Co., Ltd.|||||||||||||
||Purchase||||||||||||
|Bengang||Property|||||||||||
||of goods||||||||||||
|Group Co.,||management|||||1,000|No|||||
||and||||||||||||
|Ltd.||fee|||||||||||
||services||||||||||||
|Liaoning|Purchase|Purchasing of|||||||||||
|College of|of goods|spare parts|||||||||||
||||||||1,000|No|||||
|Metallurgy|and|and training|||||||||||
|Technologies|services|services|||||||||||
|Total|||--|--|794,350.77|--|2,216,300|--|--|--|--|--|

 2. Related transactions related to asset purchasing or disposal
[] Applicable;[V] Not applicable
No related transaction regarding asset purchase or disposal up to the end of report period.
3. Related transaction of joint external investment
[] Applicable;[V] Not applicable
No related transaction of joint external investment in the report period.
4. Debtors and credits with related parties
[] Applicable;[V] Not applicable
No debtors and credits with related parties in the report period.
5. Other related transactions
[] Applicable;[V] Not applicable
Bengang Steel Plates Co., Ltd. Interim Report 2015 Full Text No other related transaction in the report period.
VIII. Non-operational capital appropriation by holding shareholder and related parties[] Applicable;[V] Not applicable
No non-operational capital appropriation by holding shareholder or related parties occurred in the report period.
IX. Material contracts and execution
1. Entrustment, contracting, and leasing issues
(1) Trusteeship
[] Applicable;[V] Not applicable
No trusteeship in the report period.
(2) Contracting
[] Applicable;[V] Not applicable
No contracting in the report period.
(3) Leasing
[] Applicable;[V] Not applicable
No Leasing in the report period.
2. Guarantees
[] Applicable;[V] Not applicable
No guarantee issues in the report period
3. Other material contracts
[] Applicable;[V] Not applicable
No other material contract in the report period.
4. Other material trades
[] Applicable;[V] Not applicable
No other material trade in the report period.
Bengang Steel Plates Co., Ltd. Interim Report 2015 Full Text X. Commitment issues by shareholders with5% or over of shares in the report period or carried over to the report period from previous periods
[] Applicable;[V] Not applicable
No commitment issues by shareholders with5% or over of shares in the report period or carried over to the report period from previous periods
XI. Engaging and dismissing of CPAs
Whether the Interim Report was audited or not
[] Yes[V] No
Interim Report 2015 is not audited.
XII. Punishment and improvement
[] Applicable;[V] Not applicable
No punishment or improving approach in the report period.
XIII. Disclosure of illegal action causing risk of delisting.
[] Applicable;[V] Not applicable
No such illegal action causes risk of delisting.
XIV. Statement on other material issues
[V] Applicable Not applicable
On February 5, 2015, the Company issued corporation bonds (Phase I 2015) of RMB1.5 billion, with face value of RMB100. The bonds were issued by online public offering and offline private offering to financial institutes.
The bonds have their interest rate fixed at5.17% and were listed in Shenzhen Stock Exchange by bidding competition and integrated agreement in the same time.
The ID of bond was15本钢01 and the listing code was 112236. For details please find the Announcement of Corporation Bond Public Offering (The 1st Phase 2015) dated February 3, 2015 and Announcement of Listing of Corporation Bond (The 1st Phase 2015) dated May 25, 2015. Both of the announcements are available at http://www.cninfo.com.cn.
Bengang Steel Plates Co., Ltd. Interim Report 2015 Full Text Chapter VI. Change of Share Equity and Shareholders
I. Statement of change in shares
In shares
|||||||||||
|-|-|-|-|-|-|-|-|-|-|
||Before the change||Changed Currently (+,-)|||||After the change||
||||Issuing of new|Bonus|Transferred from|||||
||Amount|Proportion||||Others|Sub-total|Amount|Proportion|
||||shares|shares|reserves|||||
|I. Shares with trade restriction||||||||||
||75,750|0.00%||||-19,219|-19,219|56,531|0.00%|
|conditions||||||||||
|3. Other domestic shares|75,750|0.00%||||-19,219|-19,219|56,531|0.00%|
|Domestic natural person||||||||||
||75,750|0.00%||||-19,219|-19,219|56,531|0.00%|
|shares||||||||||
|II. Shares without trading limited||||||||||
||3,135,924,250|100.00%||||19,219|19,219|3,135,943,469|100.00%|
|conditions||||||||||
|1. Common shares in RMB|2,735,924,250|87.24%||||19,219|19,219|2,735,943,469|87.24%|
|2. Foreign shares in domestic||||||||||
||400,000,000|12.76%||||||400,000,000|12.76%|
|market||||||||||
|III. Total of capital shares|3,136,000,000|100.00%||||0|0|3,136,000,000|100.00%|

 Causation of change in share equity
[V] Applicable Not applicable
Selling of shares held by the directors or supervisors in the report period
Approval of change in share capital
[] Applicable;[V] Not applicable
Situation of registration process of transferred shares
[] Applicable;[V] Not applicable
Influences of the change of share equity on financial indices such as basic earning per share, dilluted earning per share, and net asset per share attributed to common shareholders:
[] Applicable;[V] Not applicable
Other information the Company thinks necessary or required by the authority to be disclosed
[] Applicable;[V] Not applicable
Change of total shares and shareholding structures, assets and liabilities
[] Applicable;[V] Not applicable
II. Number of shareholders and shareholding positions
Bengang Steel Plates Co., Ltd. Interim Report 2015 Full Text in shares
|||||||||||||
|-|-|-|-|-|-|-|-|-|-|-|-|
|||||||Total of shareholders of preference||||||
|Total common shareholders at the||||||shares with restored voting power at||||||
|||69,626||||||||0||
|end of the report period||||||end of report period (if any) (See Note||||||
|||||||8)||||||
|Shareholding status of top 10 shareholders or holding over 5% of the Company‟s shares||||||||||||
|||||Amount of||||||Frozen or pledged||
||||||||Conditional|||||
|||||common|Changed in|||Unconditional||||
|Name of the|Properties of||Share||||shares held|||||
|||||shares held|the report|||shares held at||||
|shareholder|shareholder||proportion %||||at end of|||Status of shares|Amount|
|||||at end of|period|||end of period||||
||||||||period|||||
|||||period||||||||
|Benxi Steel(Group) Ltd.|State-owned legalperson||77.10%|2,417,768,374|-146,661,626|||2,417,768,374||||
|GIC PRIVATELIMITED|Overseas legal person||0.72%|22,644,061||||||||
|Chen Guohua|Domestic naturalperson||0.27%|8,412,246||||||||
|BBH A/CVANGUARDEMERGINGMARKETSSTOCK INDEXFUND|Overseas legal person||0.26%|8,157,311||||||||
|GSIC A/CMONETARYAUTHORITY OFSINGAPORE|Overseas legal person||0.19%|5,967,126||||||||
|GUOTAI JUNANSECURITIES(HONGKONG)LIMITED|Overseas legal person||0.15%|4,673,204||||||||
|DEUTSCHECHINA EQUITYFUND|Overseas legal person||0.15%|4,549,984||||||||
|Zhan Changcheng|Domestic naturalperson||0.14%|4,356,715||||||||
|DEUTSCHEINVEST I -DEUTSCHEINVEST ICHINESEEQUITIES|Overseas legal person||0.12%|3,773,400||||||||
|Taifook SecuritiesCompanyLimited-AccountClient|Overseas legal person||0.11%|3,457,609||||||||
|Strategic investors or ordinary legal||||||||||||
|persons became among the top 10||||||||||||
|shareholders due to placing of new shares|||None|||||||||
|(if any)||||||||||||
|(see Note 3)||||||||||||
||||It is unknown to the Company whether there is any related connection or „Action in Concert‟ as described by|||||||||
|Notes to relationship or “action in||||||||||||
||||Rules of Information Disclosing Regarding Changing of Shareholding Status of Listed Companies existing|||||||||
|concert” among the top ten shareholders.||||||||||||
||||among the above shareholders.|||||||||
|Top 10 Holders of Unrestricted Shares||||||||||||
||||||||||Category of shares|||
|Name of the shareholder|||Unconditional common shares held at end of report period|||||||||
||||||||||Category of shares||Amount|
|Benxi Steel (Group) Ltd.|||2,417,768,374||||||RMB common shares||2,417,768,374|
|GIC PRIVATE LIMITED|||22,644,061||||||Foreign shares placed|||
||||||||||||22,644,061|
||||||||||in domestic exchange|||
|Chen Guohua|||8,412,246||||||RMB common shares||8,412,246|
|BBH A/C VANGUARD EMERGINGMARKETS STOCK INDEX FUND|||8,157,311||||||Foreign shares placed|||
||||||||||||8,157,311|
||||||||||in domestic exchange|||
|GSIC A/C MONETARY AUTHORITY OFSINGAPORE|||5,967,126||||||Foreign shares placed|||
||||||||||||5,967,126|
||||||||||in domestic exchange|||
|GUOTAI JUNANSECURITIES(HONGKONG) LIMITED|||4,673,204||||||Foreign shares placed|||
||||||||||||4,673,204|
||||||||||in domestic exchange|||
|DEUTSCHE CHINA EQUITY FUND|||4,549,984||||||Foreign shares placed|||
||||||||||||4,549,984|
||||||||||in domestic exchange|||
|Zhan Changcheng|||4,356,715||||||Foreign shares placed|||
||||||||||||4,356,715|
||||||||||in domestic exchange|||
|DEUTSCHE INVEST I - DEUTSCHEINVEST I CHINESE EQUITIES|||3,773,400||||||Foreign shares placed|||
||||||||||||3,773,400|
||||||||||in domestic exchange|||
|Taifook Securities CompanyLimited-Account Client|||3,457,609||||||Foreign shares placed|||
||||||||||||3,457,609|
||||||||||in domestic exchange|||
|Action-in-concert among top 10|||Benxi Steel & Iron (Group) Co., Ltd., the holding shareholder, has no relationship with any of the other|||||||||
|non-restricted current share holders, top 10|||shareholders among the top 10 shareholders, neither being regarded as action-in-concert parties by the|||||||||
|non-restricted current share holders and top|||Information Disclosure Regulations for Change of Shareholding in PLC The Company is not aware of any|||||||||

Bengang Steel Plates Co., Ltd. Interim Report 2015 Full Text
|||
|-|-|
|10 shareholders|relationship among the other shareholders, nor of any action-in-concert as 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 recognized according to the|
||Information Disclosure Regulations for Change of Shareholding in PLC.|
|Shareholders among the top 10||
||Chen Guohua is holding 8,412,246 shares of the Company, including 2,630,714 shares by his ordinary stock|
|participating in securities margin trading (if||
||account, and 5,781,532 shares by his credit guaranteed stock account.|
|any) (see Note 4)||

Whether there was any repurchasing deal made between any of the top 10 shareholders and top 10 holders of unrestricted shares in the report period
[] Yes[V] No
There was not any repurchasing deal made between any of the top 10 shareholders and top 10 holders of unrestricted shares in the report period
III. Change of holding shareholder or substantial controller
Change of holding shareholder
[] Applicable;[V] Not applicable
No change of holding shareholder in the report period.
Change of substantial controller
[] Applicable;[V] Not applicable
No change of substantial controller in the report period.
IV. Proposals raised by the shareholders or their action-in-concert parties about increasing of shareholding
[] Applicable;[V] Not applicable
To the knowledge of the Company, there is not any proposal raised by the shareholders or their action-in-concert parties about increasing of shareholding.
Bengang Steel Plates Co., Ltd. Interim Report 2015 Full Text Chapter VII. Particulars about Preference Shares
[] Applicable;[V] Not applicable
No preference shares in the Company.
Bengang Steel Plates Co., Ltd. Interim Report 2015 Full Text Chapter VIII. Particulars about the Directors, Supervisors and Senior Executives
I. Change of shareholding of directors, supervisors and senior executives
[V] Applicable Not applicable
|||||||||||
|-|-|-|-|-|-|-|-|-|-|
||||||||Shares under|||
||||Shares holding at|Shares|Shares|Shares held||Shares put|Shares under|
|||Status of|||||restriction at|||
|Name|Position||the beginning of|increased this|decreased this|at the end||under restriction|restriction at|
|||service|||||beginning of|||
||||term (shares)|term (shares)|term (shares)|of term||in the period|end of period|
||||||||period|||
|Zhao||||||||||
||Chairman|On duty||||||||
|Zhongmin||||||||||
|Cao Aimin|Vice Chairman|On duty||||||||
|Han Ge|Director, GM|On duty||||||||
|Zhao Wei|Director|On duty||||||||
||Independent|||||||||
|Jin Yongli||On duty||||||||
||Director|||||||||
|Zhong|Independent|||||||||
|||On duty||||||||
|Tianli|Director|||||||||
||Independent|||||||||
|Zhao Xinan||On duty||||||||
||Director|||||||||
||Chairman of the|||||||||
|Dong Liju|supervisory|On duty||||||||
||committee|||||||||
|Han Mei|Supervisor|On duty||||||||
|Li Lin|Supervisor|On duty|375||375|0|0|0|0|
|Li|Employee|||||||||
|||On duty||||||||
|Zhengchun|Supervisor|||||||||
|Zhang|Employee|||||||||
|||On duty||||||||
|Yanlong|Supervisor|||||||||
||Vice GM,|||||||||
|Zhang||||||||||
||Secretary of the|On duty||||||||
|Jichen||||||||||
||Board|||||||||
|Bao|Vice General|||||||||
|||On duty||||||||
|Mingwei|Manager|||||||||
|Wang|Vice General|||||||||
|||On duty||||||||
|Fengmin|Manager|||||||||
|Hu|Vice General|||||||||
|||On duty||||||||
|Guangyuan|Manager|||||||||
|Wang Shu|Chairman|Resigned|75,375||18,844|56,531|56,531|0|56,531|
||Independent|||||||||
|Li Kai||Resigned||||||||
||Director|||||||||
||Employee|||||||||
|Li Naiming||Resigned||||||||
||Supervisor|||||||||
|Total|--|--|75,750|0|19,219|56,531|56,531|0|56,531|

 II. Replacing of directors, supervisors, and executives
[V] Applicable Not applicable
||||||
|-|-|-|-|-|
|Name|Jobs taken|Type|Date|Causation|
|Wang Shu|Chairman|Resigned|May 21, 2015|Change of job|
|Zhao Zhongmin|Chairman|Elected|May 21, 2015|Nominated by the Company|
|Li Kai|Independent Director|Expiration of term|May 21, 2015|Due of term|
|Zhao Xinan|Independent Director|Elected|May 21, 2015|Nominated by the Company|
|Li Naiming|Employee Supervisor|Resigned|April 1, 2015|Change of job|
|Li Zhengchun|Employee Supervisor|Elected|April 1, 2015|Change of job|

Bengang Steel Plates Co., Ltd. Interim Report 2015 Full Text Chapter IX. Financial Report
I.Auditors’ Report
If the Interim Report is audited
[] Yes[V] No
The Semi-annual Financial Report is not audited.
II. The Financial Statements
All figures in the Notes to the Financial Statements are in RMB Yuan
1. Consolidated Balance Sheet
Bengang Steel Plate Co., Ltd.
June 30, 2015
In RMB Yuan
||||
|-|-|-|
|Items|Closing balance|Opening balance|
|Current asset:|||
|Monetary capital|3,695,567,815.50|9,792,940,409.40|
|Settlement provision|||
|Outgoing call loan|||
|Financial assets accounted at fair value and fluctuation accounted into current income|||
|Deductive financial assets|||
|Notes receivable|2,946,050,806.58|2,089,039,261.13|
|Account receivable|330,290,802.90|487,767,042.22|
|Prepayment|1,450,104,317.98|1,236,314,004.73|
|Insurance receivable|||
|Reinsurance receivable|||
|Provisions of Reinsurance contracts receivable|||
|Interest receivable||7,011,095.89|
|Dividend receivable|||
|Other account receivable|228,299,673.18|257,708,098.03|
|Repurchasing of financial assets|||
|Inventories|11,753,444,426.86|11,008,413,817.92|
|Categorized as asset hold for sale|||
|Non-current asset due in 1 year|||
|Other current asset|703,634,792.56|457,504,509.43|
|Total of current asset|21,107,392,635.56|25,336,698,238.75|
|Non-current assets|||
|Loans and payment on other’s behalf disbursed|||
|Sellable financial asset|20,271,278.63|20,271,278.63|
|Expired investment in possess|||
|Long-term receivable|||
|Long-term share equity investment|||
|Investment real estates|||
|Fixed assets|17,022,394,807.37|17,144,282,253.99|
|Construction in process|6,899,978,512.78|6,126,175,722.67|
|Engineering goods|4,677,471.15|90,221,101.46|
|Fixed asset disposal|||
|Production physical assets|||
|Gas & petrol|||

Bengang Steel Plates Co., Ltd. Interim Report 2015 Full Text
||||
|-|-|-|
|Intangible assets|268,490,441.16|271,459,969.75|
|R&D expense|||
|Goodwill|||
|Long-term amortizable expenses|||
|Deferred income tax asset|198,492,980.51|181,494,465.42|
|Other non-current asset|||
|Total of non-current assets|24,414,305,491.60|23,833,904,791.92|
|Total of assets|45,521,698,127.16|49,170,603,030.67|
|Current liabilities|||
|Short-term loans|15,159,893,677.70|18,187,945,675.93|
|Loan from Central Bank|||
|Deposit received and hold for others|||
|Call loan received|||
|Financial liabilities booked as current gain/loss at fair value|||
|Deductive financial liability|||
|Notes payable|974,828,982.41|822,581,591.46|
|Account payable|6,454,890,655.22|8,780,948,804.18|
|Advances received|3,162,322,037.70|3,144,418,091.52|
|Selling of repurchased financial assets|||
|Fees and commissions receivable|||
|Employees’ wage payable|58,332,639.80|35,383,951.55|
|Tax payable|19,375,070.81|32,323,181.76|
|Interest payable|35,765,445.79|26,935,067.99|
|Dividend payable|156,800,000.00||
|Other account payable|411,649,202.25|469,316,015.83|
|Reinsurance fee payable|||
|Insurance contract provision|||
|Entrusted trading of securities|||
|Entrusted selling of securities|||
|Liabilities categorized as hold for sale|||
|Non-current liability due in 1 year|1,026,860,000.00|591,740,000.00|
|Other current liability|||
|Total of current liability|27,460,717,711.68|32,091,592,380.22|
|Non-current liabilities|||
|Long-term borrowings|309,402,481.85|814,627,465.85|
|Bond payable|1,500,000,000.00||
|Incl. Preference Shares|||
|Perpectual liability|||
|Long-term payable|||
|Long-term employee wage payable|||
|Special payable|||
|Expected liabilities|||
|Differed income|415,696,000.00|427,524,000.00|
|Deferred income tax liability|||
|Other non-recurring liabilities|||
|Total of non-current liabilities|2,225,098,481.85|1,242,151,465.85|
|Total of liability|29,685,816,193.53|33,333,743,846.07|
|Owners‟ equity:|||
|Share capital|3,136,000,000.00|3,136,000,000.00|
|Other equity instruments|||
|Incl. Preference Shares|||
|Perpectual liability|||
|Capital reserves|9,114,845,542.05|9,114,845,542.05|
|Less: Shares in stock|||
|Other misc incomes|||
|Special reserves|11,268,844.38|430,777.94|
|Surplus reserves|961,105,529.85|961,105,529.85|
|Common risk provision|||
|Retained profit|2,143,387,609.50|2,172,180,473.24|
|Total of owner’s equity belong to the parent company|15,366,607,525.78|15,384,562,323.08|
|Minor shareholders’ equity|469,274,407.85|452,296,861.52|
|Total of owners’ equity|15,835,881,933.63|15,836,859,184.60|
|Total of liabilities and owners’ equity|45,521,698,127.16|49,170,603,030.67|

Bengang Steel Plates Co., Ltd. Interim Report 2015 Full Text Legal representative: Zhao Zhongmin CFO: Han Ge Accounting Manager: Wang Shaoyu
2. Balance Sheet of the Parent Company
In RMB Yuan
||||
|-|-|-|
|Items|Closing balance|Opening balance|
|Current asset:|||
|Monetary capital|3,435,320,562.90|9,530,304,140.51|
|Financial assets accounted at fair value and fluctuation accounted into current income|||
|Deductive financial assets|||
|Notes receivable|2,666,076,784.46|1,863,613,673.54|
|Account receivable|918,847,137.92|388,842,194.63|
|Prepayment|1,350,001,639.26|1,126,416,683.45|
|Interest receivable||7,011,095.89|
|Dividend receivable|||
|Other account receivable|267,661,741.93|302,622,013.53|
|Inventories|9,873,255,026.51|9,215,120,654.72|
|Categorized as asset hold for sale|||
|Non-current asset due in 1 year|||
|Other current asset|653,372,921.85|404,119,874.38|
|Total of current asset|19,164,535,814.83|22,838,050,330.65|
|Non-current assets|||
|Sellable financial asset|18,303,673.00|18,303,673.00|
|Expired investment in possess|||
|Long-term receivable|||
|Long-term share equity investment|1,690,981,902.16|1,690,981,902.16|
|Investment real estates|||
|Fixed assets|14,134,012,320.58|14,089,675,221.83|
|Construction in process|6,838,207,843.71|6,074,588,463.12|
|Engineering goods|4,421,189.12|90,221,101.46|
|Fixed asset disposal|||
|Production physical assets|||
|Gas & petrol|||
|Intangible assets|160,347,658.47|162,000,727.11|
|R&D expense|||
|Goodwill|||
|Long-term amortizable expenses|||
|Deferred income tax asset|95,857,698.91|81,964,982.51|
|Other non-current asset|||
|Total of non-current assets|22,942,132,285.95|22,207,736,071.19|
|Total of assets|42,106,668,100.78|45,045,786,401.84|
|Current liabilities|||
|Short-term loans|13,765,496,352.65|16,028,552,000.00|
|Financial liabilities booked as current gain/loss at fair value|||
|Deductive financial liability|||
|Notes payable|974,828,982.41|732,475,382.04|
|Account payable|6,576,810,986.68|8,914,580,556.14|
|Advances received|2,362,155,036.98|2,639,010,215.36|
|Employees’ wage payable|56,983,019.29|32,213,350.61|
|Tax payable|1,270,036.74|7,979,826.50|
|Interest payable|32,840,466.35|5,080,000.00|
|Dividend payable|156,800,000.00||
|Other account payable|304,664,955.69|327,382,843.61|
|Liabilities categorized as hold for sale|||
|Non-current liability due in 1 year|1,026,860,000.00|308,740,000.00|
|Other current liability|||
|Total of current liability|25,258,709,836.79|28,996,014,174.26|
|Non-current liabilities|||
|Long-term borrowings|226,402,481.85|814,627,465.85|
|Bond payable|1,500,000,000.00||
|Incl. Preference Shares|||

Bengang Steel Plates Co., Ltd. Interim Report 2015 Full Text
||||
|-|-|-|
|Perpectual liability|||
|Long-term payable|||
|Long-term employee wage payable|||
|Special payable|||
|Expected liabilities|||
|Differed income|415,696,000.00|427,524,000.00|
|Deferred income tax liability|||
|Other non-recurring liabilities|||
|Total of non-current liabilities|2,142,098,481.85|1,242,151,465.85|
|Total of liability|27,400,808,318.64|30,238,165,640.11|
|Owners‟ equity:|||
|Share capital|3,136,000,000.00|3,136,000,000.00|
|Other equity instruments|||
|Incl. Preference Shares|||
|Perpectual liability|||
|Capital reserves|8,694,693,859.93|8,694,693,859.93|
|Less: Shares in stock|||
|Other misc incomes|||
|Special reserves|11,268,844.38|430,777.94|
|Surplus reserves|961,105,529.85|961,105,529.85|
|Retained profit|1,902,791,547.98|2,015,390,594.01|
|Total of owners’ equity|14,705,859,782.14|14,807,620,761.73|
|Total of liabilities and owners’ equity|42,106,668,100.78|45,045,786,401.84|

 3. Consolidated Income Statement
In RMB Yuan
||||
|-|-|-|
||Occurred current|Occurred in previous|
|Items|||
||term|term|
|I. Total revenue|16,344,915,161.18|19,812,676,281.81|
|Incl. Business income|16,344,915,161.18|19,812,676,281.81|
|Interest income|||
|Insurance fee earned|||
|Fee and commission received|||
|II. Total business cost|16,230,495,677.88|19,636,793,455.89|
|Incl. Business cost|14,901,549,350.57|18,139,126,080.72|
|Interest expense|||
|Fee and commission paid|||
|Insurance discharge payment|||
|Net claim amount paid|||
|Net insurance policy reserves provided|||
|Insurance policy dividend paid|||
|Reinsurance expenses|||
|Business tax and surcharge|31,110,527.33|65,093,865.48|
|Sales expense|478,349,279.14|372,505,417.15|
|Administrative expense|377,591,047.45|622,556,447.37|
|Financial expenses|391,399,627.37|412,018,386.28|
|Asset impairment loss|50,495,846.02|25,493,258.89|
|Plus: gains from change of fair value (“-“ for loss)|||
|Investment gains (“-“ for loss)|6,584,315.11|13,555,224.57|
|Incl. Investment gains from affiliates|||
|Exchange gains (“-“ for loss)|||
|III. Operational profit (“-“ for loss)|121,003,798.41|189,438,050.49|
|Plus: Non business income|42,223,004.46|10,177,020.38|
|Incl. Gains from disposal of non-current assets|2,927,761.15|3,039,885.23|
|Less: Non-business expenses|20,661,325.20|3,912.18|
|Incl. Loss from disposal of non-current assets|20,661,325.20|3,912.18|
|IV. Gross profit (“-“ for loss)|142,565,477.67|199,611,158.69|
|Less: Income tax expenses|-2,419,204.92|10,441,665.91|
|V. Net profit (“-“ for net loss)|144,984,682.59|189,169,492.78|
|Net profit attributable to the owners of parent company|128,007,136.26|173,894,309.64|
|Minor shareholders’ equity|16,977,546.33|15,275,183.14|

Bengang Steel Plates Co., Ltd. Interim Report 2015 Full Text
||||
|-|-|-|
|VI. Net amount of other gains after tax|||
|Net amount of other gains after tax attributable to owners of parent company|||
|(I) Other gains not able to be relocated to gain/loss afterward|||
|1. Change of net liability or asset of beneficiary plan from recalculating|||
|2. The share of other gains in invested entities under equity basis which|||
|are not able to be relocated to gain/loss categories|||
|(II) Other gains which will be relocated to gain/loss in the future|||
|1. The share of other gains in invested entities under equity basis which|||
|are to be relocated to gain/loss categories|||
|2. Gain/loss from change of fair value of sellable financial asset|||
|3. Gain/loss from relocating of investment held to mature which is|||
|relocated to sellable financial asset|||
|4. Effective part of gain/loss from cash flow hedge operation|||
|5. Difference in translating of foreign currency accounts|||
|6. Others|||
|Net amount of other gains after tax attributable to minority shareholders|||
|VII. Total of integrated income|144,984,682.59|189,169,492.78|
|Total of misc. incomes attributable to the owners of the parent company|128,007,136.26|173,894,309.64|
|Total misc gains attributable to the minor shareholders|16,977,546.33|15,275,183.14|
|VIII. Earning per share|||
|(I) Basic earnings per share|0.04|0.06|
|(II) Diluted earnings per share|0.04|0.06|

 When merger of entities under common control, the net profit of the entities before merger was RMB0.00 and net profit of the entities of the previous period was RMB0.00
Legal representative: Zhao Zhongmin CFO: Han Ge Accounting Manager: Wang Shaoyu
4. Income Statement of the Parent Co.
In RMB Yuan
||||
|-|-|-|
||Occurred current|Occurred in previous|
|Items|||
||term|term|
|I. Turnover|17,219,623,672.44|20,787,653,800.76|
|Less: Operation cost|16,075,332,690.19|19,444,180,864.05|
|Business tax and surcharge|25,346,724.96|51,657,819.90|
|Sales expense|389,133,355.08|293,693,640.45|
|Administrative expense|347,660,967.07|590,161,501.19|
|Financial expenses|346,995,923.04|335,585,476.87|
|Asset impairment loss|30,359,562.51|10,725,948.26|
|Plus: gains from change of fair value (“-“ for loss)|||
|Investment gains (“-“ for loss)|6,584,315.11|12,378,753.42|
|Incl. Investment gains from affiliates|||
|II. Operational profit (“-“ for loss)|11,378,764.70|74,027,303.46|
|Plus: Non business income|39,590,798.07|8,707,545.30|
|Incl. Gains from disposal of non-current assets|1,215,002.38|3,039,885.23|
|Less: Non-business expenses|20,661,325.20|3,912.18|
|Incl. Loss from disposal of non-current assets|20,661,325.20|3,912.18|
|III. Total profit (“-“ for loss)|30,308,237.57|82,730,936.58|
|Less: Income tax expenses|-13,892,716.40|-1,750,217.71|
|IV. Net profit (“-“ for net loss)|44,200,953.97|84,481,154.29|
|V. Net amount of other gains after tax|||
|(I) Other gains not able to be relocated to gain/loss afterward|||
|1. Change of net liability or asset of beneficiary plan from recalculating|||
|2. The share of other gains in invested entities under equity basis which|||
|are not able to be relocated to gain/loss categories|||
|(II) Other gains which will be relocated to gain/loss in the future|||
|1. The share of other gains in invested entities under equity basis which|||
|are to be relocated to gain/loss categories|||
|2. Gain/loss from change of fair value of sellable financial asset|||
|3. Gain/loss from relocating of investment held to mature which is|||

Bengang Steel Plates Co., Ltd. Interim Report 2015 Full Text
||||
|-|-|-|
|relocated to sellable financial asset|||
|4. Effective part of gain/loss from cash flow hedge operation|||
|5. Difference in translating of foreign currency accounts|||
|6. Others|||
|VI. Total of other gains|44,200,953.97|84,481,154.29|
|VII. Earning per share|||
|(I) Basic earnings per share|0.01|0.03|
|(II) Diluted earnings per share|0.01|0.03|

 5. Consolidated Cash Flow Statement
In RMB Yuan
||||
|-|-|-|
||Occurred current|Occurred in previous|
|Items|||
||term|term|
|I. Net cash flow from business operation|||
|Cash received from sales of products and providing of services|11,799,485,304.22|14,002,814,894.79|
|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 increased amount of financial assets on fair value and with changes|||
|accounted into current gain/loss|||
|Cash received as interest, processing fee, and commission|||
|Net increase of inter-bank fund received|||
|Net increase of repurchasing business|||
|Tax returned|317,427,860.94|68,932,133.31|
|Other cash received from business operation|68,516,099.75|86,797,042.80|
|Sub-total of cash inflow from business activities|12,185,429,264.91|14,158,544,070.90|
|Cash paid for purchasing of merchandise and services|13,074,282,379.39|13,713,103,343.10|
|Net increase of client trade and advance|||
|Net increase of savings in central bank and brother company|||
|Cash paid for original contract claim|||
|Cash paid for interest, processing fee and commission|||
|Cash paid for policy dividend|||
|Cash paid to staffs or paid for staffs|686,825,981.64|783,366,538.26|
|Taxes paid|239,325,109.29|323,152,298.20|
|Other cash paid for business activities|529,033,147.81|561,384,991.10|
|Sub-total of cash outflow from business activities|14,529,466,618.13|15,381,007,170.66|
|Cash flow generated by business operation, net|-2,344,037,353.22|-1,222,463,099.76|
|II. Cash flow generated by investing|||
|Cash received from investment retrieving|1,550,000,000.00|5,996,000,000.00|
|Cash received as investment gains|6,584,315.11|13,555,224.57|
|Net cash retrieved from disposal of fixed assets, intangible assets, and other|||
||1,735,037.03|107,610.00|
|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 investment activities|1,558,319,352.14|6,009,662,834.57|
|Cash paid for construction of fixed assets, intangible assets and other long-term|||
||1,199,505,122.02|1,015,799,020.48|
|assets|||
|Cash paid as investment|1,747,000,000.00|6,036,000,000.00|
|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 investment activities|2,946,505,122.02|7,051,799,020.48|
|Net cash flow generated by investment|-1,388,185,769.88|-1,042,136,185.91|
|III. Cash flow generated by financing|||
|Cash received as investment|||
|Incl. Cash received as investment from minor shareholders|||
|Cash received as loans|6,138,810,425.77|6,865,596,700.00|
|Cash received from bond placing|||

Bengang Steel Plates Co., Ltd. Interim Report 2015 Full Text
||||
|-|-|-|
|Other financing-related cash received|||
|Subtotal of cash inflow from financing activities|6,138,810,425.77|6,865,596,700.00|
|Cash to repay debts|8,170,368,302.09|6,160,643,950.04|
|Cash paid as dividend, profit, or interests|500,641,615.47|432,840,327.28|
|Incl. Dividend and profit paid by subsidiaries to minor shareholders|||
|Other cash paid for financing activities|||
|Subtotal of cash outflow due to financing activities|8,671,009,917.56|6,593,484,277.32|
|Net cash flow generated by financing|-2,532,199,491.79|272,112,422.68|
|IV. Influence of exchange rate alternation on cash and cash equivalents|-8,429,414.17|996,823.28|
|V. Net increase of cash and cash equivalents|-6,272,852,029.06|-1,991,490,039.71|
|Plus: Balance of cash and cash equivalents at the beginning of term|9,792,940,409.40|4,574,532,598.83|
|VI. Balance of cash and cash equivalents at the end of term|3,520,088,380.34|2,583,042,559.12|

 6. Cash Flow Statement of the Parent Co.
In RMB Yuan
||||
|-|-|-|
||Occurred current|Occurred in previous|
|Items|||
||term|term|
|I. Net cash flow from business operation|||
|Cash received from sales of products and providing of services|12,565,263,147.60|14,949,401,332.02|
|Tax returned|251,914,135.63|45,691,196.11|
|Other cash received from business operation|60,667,306.45|81,643,887.99|
|Sub-total of cash inflow from business activities|12,877,844,589.68|15,076,736,416.12|
|Cash paid for purchasing of merchandise and services|14,918,723,683.15|14,602,349,222.29|
|Cash paid to staffs or paid for staffs|639,757,457.40|731,018,365.31|
|Taxes paid|164,312,175.78|208,539,084.75|
|Other cash paid for business activities|479,001,645.67|511,566,893.57|
|Sub-total of cash outflow from business activities|16,201,794,962.00|16,053,473,565.92|
|Cash flow generated by business operation, net|-3,323,950,372.32|-976,737,149.80|
|II. Cash flow generated by investing|||
|Cash received from investment retrieving|1,550,000,000.00|5,490,000,000.00|
|Cash received as investment gains|6,584,315.11|12,378,753.42|
|Net cash retrieved from disposal of fixed assets, intangible assets, and other|||
||1,735,037.03|107,610.00|
|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 investment activities|1,558,319,352.14|5,502,486,363.42|
|Cash paid for construction of fixed assets, intangible assets and other long-term|||
||1,184,557,366.86|1,006,510,420.24|
|assets|||
|Cash paid as investment|1,747,000,000.00|5,260,000,000.00|
|Net cash received from subsidiaries and other operational units|||
|Other cash paid for investment activities|||
|Sub-total of cash outflow due to investment activities|2,931,557,366.86|6,266,510,420.24|
|Net cash flow generated by investment|-1,373,238,014.72|-764,024,056.82|
|III. Cash flow generated by financing|||
|Cash received as investment|||
|Cash received as loans|5,338,810,425.77|5,672,286,500.00|
|Cash received from bond placing|||
|Other financing-related cash received|||
|Subtotal of cash inflow from financing activities|5,338,810,425.77|5,672,286,500.00|
|Cash to repay debts|6,444,277,209.21|5,527,516,348.80|
|Cash paid as dividend, profit, or interests|459,378,762.47|376,062,171.80|
|Other cash paid for financing activities|||
|Subtotal of cash outflow due to financing activities|6,903,655,971.68|5,903,578,520.60|
|Net cash flow generated by financing|-1,564,845,545.91|-231,292,020.60|
|IV. Influence of exchange rate alternation on cash and cash equivalents|-8,429,079.82|3,730,050.43|
|V. Net increase of cash and cash equivalents|-6,270,463,012.77|-1,968,323,176.79|
|Plus: Balance of cash and cash equivalents at the beginning of term|9,530,304,140.51|4,304,424,513.46|
|VI. Balance of cash and cash equivalents at the end of term|3,259,841,127.74|2,336,101,336.67|

Bengang Steel Plates Co., Ltd. Interim Report 2015 Full Text 7. Statement of Change inOwners’ Equity (Consolidated)
Amount of the Current Term
In RMB Yuan
|||||||||||||||
|-|-|-|-|-|-|-|-|-|-|-|-|-|-|
|Items|Current term|||||||||||||
||Owners’ Equity Attributable to the Parent Company|||||||||||||
|||||||||||||Minorsharehold||
|||Other equity instruments|||||||||||Total of|
||Share|Prefere|Perpetu||Capital|Less:Shares in|Othermisc|Special|Surplus|Commonrisk|Retained|ers’|owners’|
||capital|nce|al|Others|reserves|||reserves|reserves||profit||equity|
|||||||stock|incomes|||provision||equity||
|||shares|liability|||||||||||
||3,136,0|||||||||||||
|I. Balance at end of|||||9,114,845|||430,777.9|961,105,5||2,172,180|452,296,8|15,836,85|
||00,000.|||||||||||||
|prev. year|||||,542.05|||4|29.85||,473.24|61.52|9,184.60|
||00|||||||||||||
|Plus: Change of||||||||||||||
|accounting policy||||||||||||||
|Correcting||||||||||||||
|of previous errors||||||||||||||
|Business||||||||||||||
|combination under||||||||||||||
|common control||||||||||||||
|Others||||||||||||||
|II. Balance at|3,136,0|||||||||||||
||||||9,114,845|||430,777.9|961,105,5||2,172,180|452,296,8|15,836,85|
|beginning of current|00,000.|||||||||||||
||||||,542.05|||4|29.85||,473.24|61.52|9,184.60|
|year|00|||||||||||||
|III. Amount of change||||||||||||||
|||||||||10,838,06|||-28,792,8|16,977,54|-977,250.|
|in current term (“-“ for||||||||||||||
|||||||||6.44|||63.74|6.33|97|
|decrease)||||||||||||||
||||||||||||128,007,1|16,977,54|144,984,6|
|(I) Total of other gains||||||||||||||
||||||||||||36.26|6.33|82.59|
|(II) Owners‟ input our||||||||||||||
|retrieving of capital||||||||||||||
|1. Common shares||||||||||||||
|input by shareholders||||||||||||||
|2. Capital input by||||||||||||||
|other equity holders||||||||||||||
|3. Amount of share||||||||||||||
|payment including||||||||||||||
|owners‟ equity||||||||||||||
|4. Others||||||||||||||
||||||||||||-156,800,||-156,800,|
|(III) Profit distribution||||||||||||||
||||||||||||000.00||000.00|
|1. Providing of surplus||||||||||||||
|reserves||||||||||||||
|2. Common risk||||||||||||||
|provision||||||||||||||
|3. Allotment to the||||||||||||||
||||||||||||-156,800,||-156,800,|
|owners (or||||||||||||||
||||||||||||000.00||000.00|
|shareholders)||||||||||||||
|4. Others||||||||||||||
|(IV) Internal transition||||||||||||||
|of owners‟ equity||||||||||||||
|1. Capitalizing of||||||||||||||
|capital reserves (or to||||||||||||||
|capital shares)||||||||||||||
|2. Capitalizing of||||||||||||||
|surplus reserves (or to||||||||||||||
|capital shares)||||||||||||||
|3. Making up losses||||||||||||||
|by surplus reserves||||||||||||||
|4. Others||||||||||||||
|||||||||10,838,06|||||10,838,06|
|(V) Special reserves||||||||||||||
|||||||||6.44|||||6.44|
|||||||||17,493,56|||||17,493,56|
|1. Provided this year||||||||||||||
|||||||||4.59|||||4.59|
|||||||||-6,655,49|||||-6,655,49|
|2. Used this term||||||||||||||
|||||||||8.15|||||8.15|
|(VI) Others||||||||||||||
||3,136,0||||||||||||15,835,881,933.63|
|IV. Balance at the end|||||9,114,845|||11,268,84|961,105,5||2,143,387|469,274,4||
||00,000.|||||||||||||
|of this term|||||,542.05|||4.38|29.85||,609.50|07.85||
||00|||||||||||||

Bengang Steel Plates Co., Ltd. Interim Report 2015 Full Text Amount of Last Year
In RMB Yuan
|||||||||||||||
|-|-|-|-|-|-|-|-|-|-|-|-|-|-|
|Items|Previous term|||||||||||||
||Owners’ Equity Attributable to the Parent Company|||||||||||||
|||||||||||||Minorsharehold||
|||Other equity instruments|||||||||||Total of|
||Share|Prefere|Perpetu||Capital|Less:Shares in|Othermisc|Special|Surplus|Commonrisk|Retained|ers’|owners’|
||capital|nce|al|Others|reserves|||reserves|reserves||profit||equity|
|||||||stock|incomes|||provision||equity||
|||shares|liability|||||||||||
||3,136,0|||||||||||||
|I. Balance at end of|||||9,114,845|||210,972.6|956,694,1||2,100,587|370,228,|15,678,56|
||00,000.|||||||||||||
|prev. year|||||,542.05|||8|03.74||,079.16|529.55|6,227.18|
||00|||||||||||||
|Plus: Change of||||||||||||||
|accounting policy||||||||||||||
|Correcting||||||||||||||
|of previous errors||||||||||||||
|Business||||||||||||||
|combination under||||||||||||||
|common control||||||||||||||
|Others||||||||||||||
|II. Balance at|3,136,0|||||||||||||
||||||9,114,845|||210,972.6|956,694,1||2,100,587|370,228,|15,678,56|
|beginning of current|00,000.|||||||||||||
||||||,542.05|||8|03.74||,079.16|529.55|6,227.18|
|year|00|||||||||||||
|III. Amount of change||||||||||||||
|||||||||219,805.2|4,411,426||71,593,39|82,068,3|158,292,9|
|in current term (“-“ for||||||||||||||
|||||||||6|.11||4.08|31.97|57.42|
|decrease)||||||||||||||
||||||||||||232,804,8|82,068,3|314,873,1|
|(I) Total of other gains||||||||||||||
||||||||||||20.19|31.97|52.16|
|(II) Owners‟ input our||||||||||||||
|retrieving of capital||||||||||||||
|1. Common shares||||||||||||||
|input by shareholders||||||||||||||
|2. Capital input by||||||||||||||
|other equity holders||||||||||||||
|3. Amount of share||||||||||||||
|payment including||||||||||||||
|owners‟ equity||||||||||||||
|4. Others||||||||||||||
||||||||||4,411,426||-161,211,||-156,800,|
|(III) Profit distribution||||||||||||||
||||||||||.11||426.11||000.00|
|1. Providing of surplus|||||||||4,411,426||-4,411,42|||
|reserves|||||||||.11||6.11|||
|2. Common risk||||||||||||||
|provision||||||||||||||
|3. Allotment to the||||||||||||||
||||||||||||-156,800,||-156,800,|
|owners (or||||||||||||||
||||||||||||000.00||000.00|
|shareholders)||||||||||||||
|4. Others||||||||||||||
|(IV) Internal transition||||||||||||||
|of owners‟ equity||||||||||||||
|1. Capitalizing of||||||||||||||
|capital reserves (or to||||||||||||||
|capital shares)||||||||||||||
|2. Capitalizing of||||||||||||||
|surplus reserves (or to||||||||||||||
|capital shares)||||||||||||||
|3. Making up losses||||||||||||||
|by surplus reserves||||||||||||||
|4. Others||||||||||||||
|||||||||219,805.2|||||219,805.2|
|(V) Special reserves||||||||||||||
|||||||||6|||||6|
|||||||||35,149,38|||||35,149,38|
|1. Provided this year||||||||||||||
|||||||||0.86|||||0.86|
|||||||||-34,929,5|||||-34,929,5|
|2. Used this term||||||||||||||
|||||||||75.60|||||75.60|
|(VI) Others||||||||||||||
||3,136,0|||||||||||||
|IV. Balance at the end|||||9,114,845|||430,777.9|961,105,5||2,172,180|452,296,|15,836,85|
||00,000.|||||||||||||
|of this term|||||,542.05|||4|29.85||,473.24|861.52|9,184.60|
||00|||||||||||||

Bengang Steel Plates Co., Ltd. Interim Report 2015 Full Text 8. Statement of Change inOwners’ Equity (Parent Co.)
Amount of the Current Term
In RMB Yuan
|||||||||||||
|-|-|-|-|-|-|-|-|-|-|-|-|
||Current term|||||||||||
|||Other equity instruments||||Less:|||||Total of|
|Items|Share||||Capital||Other misc|Special|Surplus|Retained||
|||Preferenc|Perpetual|||Shares in|||||owners’|
||capital|||Others|reserves||incomes|reserves|reserves|profit||
|||e shares|liability|||stock|||||equity|
|I. Balance at end of|3,136,000||||8,694,693,8||||961,105,52|2,015,390|14,807,620,|
|||||||||430,777.94||||
|prev. year|,000.00||||59.93||||9.85|,594.01|761.73|
|Plus: Change of||||||||||||
|accounting policy||||||||||||
|Correcting||||||||||||
|of previous errors||||||||||||
|Others||||||||||||
|II. Balance at||||||||||||
||3,136,000||||8,694,693,8||||961,105,52|2,015,390|14,807,620,|
|beginning of current||||||||430,777.94||||
||,000.00||||59.93||||9.85|,594.01|761.73|
|year||||||||||||
|III. Amount of change||||||||||||
|||||||||10,838,066.||-112,599,|-101,760,97|
|in current term (“-“ for||||||||||||
|||||||||44||046.03|9.59|
|decrease)||||||||||||
|||||||||||44,200,95|44,200,953.|
|(I) Total of other gains||||||||||||
|||||||||||3.97|97|
|(II) Owners‟ input our||||||||||||
|retrieving of capital||||||||||||
|1. Common shares||||||||||||
|input by shareholders||||||||||||
|2. Capital input by||||||||||||
|other equity holders||||||||||||
|3. Amount of share||||||||||||
|payment including||||||||||||
|owners‟ equity||||||||||||
|4. Others||||||||||||
|||||||||||-156,800,|-156,800,00|
|(III) Profit distribution||||||||||||
|||||||||||000.00|0.00|
|1. Providing of surplus||||||||||||
|reserves||||||||||||
|2.Allotment to the||||||||||||
|||||||||||-156,800,|-156,800,00|
|owners (or||||||||||||
|||||||||||000.00|0.00|
|shareholders||||||||||||
|3. Others||||||||||||
|(IV) Internal transition||||||||||||
|of owners‟ equity||||||||||||
|1. Capitalizing of||||||||||||
|capital reserves (or to||||||||||||
|capital shares)||||||||||||
|2. Capitalizing of||||||||||||
|surplus reserves (or to||||||||||||
|capital shares)||||||||||||
|3. Making up losses||||||||||||
|by surplus reserves||||||||||||
|4. Others||||||||||||
|||||||||10,838,066.|||10,838,066.|
|(V) Special reserves||||||||||||
|||||||||44|||44|
|||||||||17,493,564.|||17,493,564.|
|1. Provided this year||||||||||||
|||||||||59|||59|
|||||||||-6,655,498.|||-6,655,498.|
|2. Used this term||||||||||||
|||||||||15|||15|
|(VI) Others||||||||||||
|IV. Balance at the end|3,136,000||||8,694,693,8|||11,268,844.|961,105,52|1,902,791|14,705,859,782.14|
|of this term|,000.00||||59.93|||38|9.85|,547.98||

Bengang Steel Plates Co., Ltd. Interim Report 2015 Full Text Amount of Last Year
In RMB Yuan
|||||||||||||
|-|-|-|-|-|-|-|-|-|-|-|-|
||Previous term|||||||||||
|||Other equity instruments||||Less:|||||Total of|
|Items|Share||||Capital||Other misc|Special|Surplus|Retained||
|||Preferenc|Perceptua|||Shares in|||||owners’|
||capital|||Others|reserves||incomes|reserves|reserves|profit||
|||e shares|l liability|||stock|||||equity|
|I. Balance at end of|3,136,000||||8,694,693,8||||956,694,10|2,132,487|14,920,086,|
|||||||||210,972.68||||
|prev. year|,000.00||||59.93||||3.74|,759.02|695.37|
|Plus: Change of||||||||||||
|accounting policy||||||||||||
|Correcting||||||||||||
|of previous errors||||||||||||
|Others||||||||||||
|II. Balance at||||||||||||
||3,136,000||||8,694,693,8||||956,694,10|2,132,487|14,920,086,|
|beginning of current||||||||210,972.68||||
||,000.00||||59.93||||3.74|,759.02|695.37|
|year||||||||||||
|III. Amount of change||||||||||||
||||||||||4,411,426.1|-117,097,|-112,465,93|
|in current term (“-“ for||||||||219,805.26||||
||||||||||1|165.01|3.64|
|decrease)||||||||||||
|||||||||||44,114,26|44,114,261.|
|(I) Total of other gains||||||||||||
|||||||||||1.10|10|
|(II) Owners‟ input our||||||||||||
|retrieving of capital||||||||||||
|1. Common shares||||||||||||
|input by shareholders||||||||||||
|2. Capital input by||||||||||||
|other equity holders||||||||||||
|3. Amount of share||||||||||||
|payment including||||||||||||
|owners‟ equity||||||||||||
|4. Others||||||||||||
||||||||||4,411,426.1|-161,211,|-156,800,00|
|(III) Profit distribution||||||||||||
||||||||||1|426.11|0.00|
|1. Providing of surplus|||||||||4,411,426.1|-4,411,42||
|reserves|||||||||1|6.11||
|2.Allotment to the||||||||||||
|||||||||||-156,800,|-156,800,00|
|owners (or||||||||||||
|||||||||||000.00|0.00|
|shareholders||||||||||||
|3. Others||||||||||||
|(IV) Internal transition||||||||||||
|of owners‟ equity||||||||||||
|1. Capitalizing of||||||||||||
|capital reserves (or to||||||||||||
|capital shares)||||||||||||
|2. Capitalizing of||||||||||||
|surplus reserves (or to||||||||||||
|capital shares)||||||||||||
|3. Making up losses||||||||||||
|by surplus reserves||||||||||||
|4. Others||||||||||||
|(V) Special reserves||||||||219,805.26|||219,805.26|
|||||||||35,149,380.|||35,149,380.|
|1. Provided this year||||||||||||
|||||||||86|||86|
|||||||||-34,929,575|||-34,929,575|
|2. Used this term||||||||||||
|||||||||.60|||.60|
|(VI) Others||||||||||||
|IV. Balance at the end|3,136,000||||8,694,693,8||||961,105,52|2,015,390|14,807,620,|
|||||||||430,777.94||||
|of this term|,000.00||||59.93||||9.85|,594.01|761.73|

Bengang Steel Plates Co., Ltd. Interim Report 2015 Full Text III. Company Profiles
Bengang Steel Plates Co., Ltd. (hereinafter referred to as “the Company”), as approved in Liao-Zheng (1997) No. 57 by LiaoningPeople‟s Government on 27 March 1997, was incorporated as a joint stock limited company through public share offer of domestic listed foreign currency denominated shares (B shares) in thePeople‟s Republic of China (the “PRC”) on 27 June 1997 by Benxi Iron and Steel (Group) Co., Ltd. (“Bengang Group”), through reorganization of operations, assets and liabilities of its plants, namely, Steel Smelting Plant, Primary Rolling Plant and Continuous Hot Rolling Plant.
As approved by China Securities Regulatory Commission, the Company issued 400,000,000 B-shares at RMB2.38 each in Shenzhen Stock Exchange on 10 June 1997. On 3 November 1997, the Company issued another 120,000,000 A-shares (Renminbi Common Shares) at RMB5.40 each, and listed in Shenzhen Stock Exchange since 15 January 1998. The capital shares were totalled to 1,136,000,000 shares including 616,000,000 shares held by the promoter.
On March 14 2006, according to the resolutions of theShareholders‟ Meeting regarding share equity relocation, the Share Equity Relocation Scheme, Response to Bengang Steel Plate Co., Ltd. about Share Equity Relocation issued by Liaoning Provincial Government State-owned Asset Administrative Committee, Bengang Group– the only holder of non-negotiable state-owned legal person shares paid the consideration to the current shareholders to obtain the current option for the 40,800,000 shares of the total 616,000,000 shares it was holding. However the total of capital shares of Bengang Steel Plate was not changed through the share equity relocation action.
China Securities Regulatory Commission issued Zheng-Jian-Gong-Si-Zi[2006] 126 on June 30th 2006 and served to the Company on July 6th 2006. The Company was approved to place 2 billion Renminbi common shares particularly to Bengang Group and the proceeds would be used to purchase the related assets of the Group. On the same day, Bengang Group received circular Zheng-Jian-Gong-Si-Zi[2006] 127 issued by China Securities Regulatory Committee, and was exempted for the liability of undertaking the purchase offer. The liability was caused by subscribing of the 2 billion new shares and the total shareholding was thus increased to 2.5752 billion shares (account for82.12% of the total capital shares of the Company). On August 28 2006, as approved by China Securities Depository& Clearing Corporation Ltd. Shenzhen Office, the registration and conditional placing procedures of the 2 billion new shares were completed. On September 28 2006, the privately placed shares were approved by Shenzhen Stock Exchange to be placed in the stock market. The new shares were placed in the market on October 9th 2006, with face value of RMB1.00 per share and the placing price was RMB4.6733 per share.
Up to June 30 2015, the capital shares of Bengang Steel Plates Co., Ltd were amounted to 3,136,000,000 shares. The business license was numbered 210000004931633. The registered address is: 18th Gangtie Road, Pingshan, Benxi, Liaoning Province. The registered capital is RMB3,136,000,000. The legal representative is Zhao Zhongmin.
The parent company of Bengang Steel Plates Co., Ltd is Benxi Iron and Steel (Group) Co., Ltd. and the actual controller is the State-owned Assets Supervision and Administration Commission of the State Council of Liaoning province.
Bengang Steel Plate Co., Ltd. is mainly involved in processing and trading of recycled metal (including color metal), steel& iron making, rolling, and trading, oxygen making, special pre-shaped steel material, metal process, goods and technology import& export (exclude categories prohibited by the national government, constrained products can only be traded with special certificates), measuring instruments, electronic& mechanical equipment, sales of steel, new industrial products, developing of technologies, recycling of gas dust and waste oil (excluding dangerous materials), production of hazardous chemical materials.
Bengang Steel Plates Co., Ltd. Interim Report 2015 Full Text The above financial accounts were approved by the Board of Directors on August 3, 2015.
As of June 30, 2015, the consolidating range of the consolidated accounts is covering the following subsidiaries:
Name of the subsidiaries
Guangzhou Bengang Trade Co., Ltd.
Shanghai Bengang Metallurgy Tech. Ltd.
Bengang Steel Plate Liaoyang Orel Ball Co., Ltd.
Dalian Benruitong Automobile Material Technologies Co., Ltd.
Changchun Bengang Steel Sales Ltd.
Haerbin Bengang International Trading Ltd.
Nanjing Bengang Steel Material Sales Ltd.
Wuxi Bengang Steel Sales Ltd.
Xiamen Bengang Steel Sales Ltd.
Yantai Bengang Steel Sales Ltd.
Tianjin Bengang Steel Trading Ltd.
Bengang Puxiang Cool Rolling Steel Sheet Co., Ltd.
No change made to the consolidating range in the report period.
IV. Basis of Preparation
1. Basis of preparation
The Company prepares its financial statements on perpetual basis and accrual basis, with accordance with the Enterprise Accounting Standard issued by the Department of Finance– the basic rules and multiple principles, as well as the proceeding instructions, interpretations, and other rules (regarded collectively as “The Enterprise Accounting Standard”, and also the Information Disclosure Rules No.15– General rules of financial statements issued by China Securities Regulatory Commission.
2. Perpetual operation
The Company is in normal and healthy operation, and is able to carry on perpetually.
V. Material Accounting Policies and Accounting Estimations
Note to detailed accounting policies and estimations:
The following contents are covering the detailed accounting policies and estimations made in accordance with the business practice
Bengang Steel Plates Co., Ltd. Interim Report 2015 Full Text of the Company.
1. Statement of compliance to the Enterprise Accounting Standard
The financial statements present truly and completely the financial position, operation results and cash flow of the company.
2. Accounting period
A fiscal year starts from January 1 and ends at December 31 of a calendar year.
3. Business circle
TheCompany‟s business circle covers 12 months.
4. Standard currency for bookkeeping
The Company uses Renminbi (RMB) as the standard currency for book keeping.
5. Accounting treatment of the merging entities under common control and different control
1. Business combination under common control
The assets and liabilities that the Company acquired in a business combination shall be measured on the basis of their carrying amount ofaquiree‟s assets, liabilities (as well as the goodwill arising from the business combination) in the consolidated financial statement of the ultimate controller on the combining date.
As for the balance between the carrying amount of the net assets obtained by the Company and the carrying amount of the consideration paid by it (or the total par value of the shares issued), capital reserve needs to be adjusted. If the capital reserve is not sufficient, any excess shall be adjusted against retained earnings.
2. Business combination involving entities not under common control
The Company shall, on the acquisition date, measure the assets given and liabilities incurred or assumed by an enterprise for a business combination in light of their fair values, and shall record the balances between them and their carrying amounts into the profits and losses at the current period.
The Company shall recognize the positive balance between the combination costs and the fair value of the identifiable net assets it obtains from the acquiree as goodwill. The Company shall treat the negative balance between the combination costs and the fair value of the identifiable net assets it obtains from the acquiree into the profits and losses of the current period.
The intermediary costs and relevant management fee for the business combination now under same control paid by the acquirer, including the expenses for audit, assessment and legal services, shall be recorded into the profits and losses at the current period. The transaction expenses for the issuance of equity securities for the business combination shall be recorded into the initial recognition amount of equity securities.
6. Preparing method of consolidated financial statements
1. Consolidation range
The scope of consolidation of consolidated financial statements is determined based on control. All the subsidies have
Bengang Steel Plates Co., Ltd. Interim Report 2015 Full Text been consolidated into the scope of consolidation for this period ended.
2. Consolidation process
2. Procedure of consolidation
The consolidated financial statements shall be presented by the parent based on the financial statements of the parent and its subsidiaries, and using other related information. When preparing consolidated financial statements, the parent shall consider the entire group as an accounting entity, adopt uniform accounting policies and apply the requirements of Accounting Standard for Business Enterprises related to recognition, measurement and presentation. The consolidated financial statements shall reflect the overall financial position, operating results and cash flows of the group.
The accounting policy and accounting period of the subsidiaries within the consolidation scope shall be in accordance with those of the Company. If not, it is necessary to make the adjustment according to theCompany‟s accounting policies and accounting period when preparing the consolidated financial statements.
For subsidiaries through acquisition that are now under common control, the financial statements are adjusted according to fair value of identifiable net assets on the acquisition date.
For subsidiaries through acquisition that are under common control, the assets, liabilities (as well as the goodwill arising from purchasing the subsidiary by the ultimate controller) are adjusted according to book value of net assets in the financial statements of the ultimate controller.
Theowners‟ interests, profit or loss, and comprehensive income of the subsidiary attributable to the non-controlling shareholders shall be presented separately in theshareholders‟ equity of the consolidated balance sheet and under the item of net profit of the consolidated statement of comprehensive income and under the item of total comprehensive income. Where losses assumed by the minority exceed theminority‟s interests in the beginning equity of a subsidiary, the excess shall be charged against theminority‟s interests.
(1) Increase of new subsidiary and business
If the Company has a new subsidiary due to business combination under common control during a reporting period, it shall adjust the beginning balance in the consolidated statement of financial position when preparing consolidated statement of financial position. The revenue, expenses and profits of the subsidiaries from the acquisition date to the end of the reporting period are included in theCompany‟s consolidated statement of comprehensive income. The cash flow of the subsidiaries from the acquisition date to the end of the reporting period is included in theCompany‟s consolidated statement of cash flows. And meanwhile the Company shall adjust the relevant items of the comparative financial statements as if the reporting entity for the purpose of consolidation has been in existence since the date the ultimate controlling party first obtained control.
When the Company becomes capable of exercising control over an investee under common control due to additional investment or other reasons, Adjustment shall be made as if the reporting entity after the combination has been in existence since the date the ultimate controlling party first obtained control. The investment income recognized between date of previously obtaining equity investment and the date the acquiree and acquirer are under common control, which is later, and the combining date, other comprehensive income and other changes of net assets arising from the equity investment previously-held before obtaining the control the acquiree shall be adjusted against the prior retained earnings of the comparative financial statements and the current profit or loss respectively.
If it is now under common control, the Company shall not adjust the beginning balance in the consolidated statement of financial position when preparing consolidated statement of financial position. The revenue, expenses and profits of the subsidiaries from the acquisition date to the end of the reporting period are included in the parentcompany‟s consolidated statement of comprehensive income. The cash flow of the subsidiaries from the acquisition date to the end of the reporting period is included in theCompany‟s consolidated statement of cash flows.
When the Company becomes capable of exercising control over an investee now under common control due to additional investment or other reasons, the acquirer shall remeasure its previously held equity interest in the acquiree to its fair value at
Bengang Steel Plates Co., Ltd. Interim Report 2015 Full Text the acquisition date. The difference between the fair value and the carrying amount shall be recognized as investment income for the period when the acquisition takes place. When the previously-held equity investment is accounted for under the equity method, any other comprehensive income previously recognized in relation to theacquiree‟s equity changes shall be transferred to profit or loss for the current period when the acquisition takes place. Other comprehensive income arising from remeasurement of defined benefit plan is excluded.
(2) Disposing subsidiary or business
1. General treatment
If the Company disposes a subsidiary during a reporting period, the revenue, expenses and profits of the subsidiary from the beginning of the reporting period to disposal date are included in theCompany‟s consolidated statement of comprehensive income. The cash flow of the subsidiaries from the beginning of the reporting period to disposal date is included in theCompany‟s consolidated statement of cash flows.
When the Company loses control over an investee due to partial disposal or other reasons, the acquirer shall remeasure the remaining equity interests in the acquiree to its fair value at the acquisition date. The difference, between sums of consideration received for disposal equity shares and fair value of the remaining shares, and sums of share of net assets of the subsidiary calculated continuously from the acquisition date or the combination date based on the previous shareholding proportion and goodwill, shall be recognized as investment income for the period when the Company loses control over acquiree. When the previously-held equity investment is accounted for under the equity method, any other comprehensive income previously recognized in relation to theacquiree‟s equity changes, and other equity changes rather than changes from net profit, other comprehensive income and profit distribution, shall be transferred to investment income for the current period when the Company loses control over acquiree. Other comprehensive income arising from remeasurement of defined benefit plan is excluded.
2. Disposing the subsidiary by multiple transactions
Where the Company loses control of a subsidiary in multiple transactions in which it disposes of its subsidiary in stages, in determining whether to account for the multiple transactions as a single transaction, the Company shall consider all of the terms and conditions of the transactions and their economic effects. One or more of the following may indicate that the Company shall account for the multiple arrangements as a single transaction:
(a) Arrangements are entered into at the same time or in contemplation of each other;
(b) Arrangements work together to achieve an overall commercial effect;
(c) The occurrence of one arrangement is dependent on the occurrence of at least one other arrangement; and
(d) One arrangement considered on its own is not economically justified, but it is economically justified when considered together with other arrangements.
If each of the multiple transactions forms part of a bundled transaction which eventually results in loss of control of the subsidiary, these multiple transactions shall be accounted for as a single transaction. In the consolidated financial statements, the difference between the consideration received and the corresponding proportion of thesubsidiary‟s net assets in each transaction prior to the loss of control shall be recognized in other comprehensive income and transferred to the profit or loss when the Company eventually loses control of the subsidiary.
If each of the multiple transactions which eventually results in loss of control of the subsidiary do not form part of a bundled transaction, apply the treatment of disposing partial long-term equity investments in a subsidiary without loss of control prior to the loss of control. After the loss of control, apply the treatment of disposing the subsidiary in common cases.
(3) Acquiring thesubsidiary’s equity interest held by non-controlling shareholders
Where the Company has acquired asubsidiary‟s equity interest held by non-controlling shareholders, the difference between the increase in the cost of long-term investments as a result of acquisition of non-controlling interests and the share of net assets of the subsidiary calculated continuously from the
Bengang Steel Plates Co., Ltd. Interim Report 2015 Full Text acquisition date or the combination date based on the new shareholding proportion shall be adjusted to the capital reserve( capital premium or share premium) in the consolidated financial statements. If the balance of the capital reserve is not sufficient, any excess shall be adjusted against retained earnings.
(4) Disposing partial long-term equity investments in a subsidiary without loss of control
When the Company disposes of a portion of the long-term equity investments in a subsidiary without loss of control, the difference between the amount of the consideration received and the corresponding portion of the nest assets of the subsidiary calculated continuously from the acquisition date or the combination date related to the disposal of the long-term equity investments shall be adjusted to the capital reserve (capital premium or share premium) in the consolidated financial statements. If the balance of the capital reserve is not sufficient, any excess shall be adjusted against retained earnings. 7. Joint arrangement classification and accounting treatment
A joint arrangement is classified as either a joint operation or joint venture.
When the Company is joint operator of joint arrangement and has rights to the assets, and obligations for the liabilities, relating to the arrangement, it is classified as joint operation.
A joint operator shall recognize the following items in relation to its interest in a joint operation, and account for them in accordance with relevant accounting standards:
(1) Its solely-held assets, and its share of any assets held jointly;
(2) Its solely-assumed liabilities, and its share of any liabilities incurred jointly;
(3) Its revenue from sales of its share of the output arising from the joint operation;
(4) Its share of the revenue from the sale of the output by the joint operation; and
(5) Its solely-incurred expenses and its share of any expenses incurred jointly.
8. Recognition basis of cash and cash equivalents
At preparing of cash flow statement, those investments, which are featured with short term (expire within 3 months since purchased), high liquidity, easy to convert to know cash, low in risk of value change, could be recognized as cash equivalents. Equity investment are not recognized as cash equivalents.
9. Translation of businesses and accounts in foreign currency
1. Trade in foreign currencies
Foreign currency transactions are translated into RMB at the current rate at the day of transactions.
The foreign currency monetary items shall be translated at the spot exchange rate on the balance sheet date. The balance of exchange arising from the difference between the spot exchange rate on the balance sheet date and the spot exchange rate at the time of initial recognition or prior to the balance sheet date, except those arising from the raising of special foreign debt for the purchase or construction of capitalizable assets thus shall be capitalized according to the borrowing costs capitalization principle, shall be recorded into the profits and losses at the current period. The foreign currency non-monetary items measured at the historical cost shall still be translated at the spot exchange rate on the transaction date, of which the amount of functional currency shall not be changed. The foreign currency non-monetary items measured at the fair value shall still be translated at the spot exchange rate on the date of confirming the fair value and the balance of exchange arising from it shall be recorded into profits and losses at the current period of disposal or capital reserves.
2. Translation of foreign currency financial statements
The asset and liability items in the statement of financial position shall be translated at a spot exchange rate on the balance sheet date. Among the owner's equity items, except the ones as "undistributed profits", others shall be translated at the spot exchange rate at the time when they are incurred. The income and expense items in the statement of comprehensive income shall be translated at the spot exchange rate of the transaction date.
Bengang Steel Plates Co., Ltd. Interim Report 2015 Full Text When disposing an overseas business, the Company shall shift the balance, which is presented under the items of the owner's equities in the statement of financial position and arises from the translation of foreign currency financial statements related to this oversea business, into the disposal profits and losses of the current period. If the overseas business is disposed of partially, the Company shall calculate the balance arising from the translation of foreign currency statements of the part of disposal based on the disposal rate and shall shift them into the profits and losses of the current period.
10. Financial instruments
Financial instruments include financial assets, financial liabilities and equity instruments.
1. Categorizing of financial instruments
The classification of financial assets and financial liabilities at initial recognition are as follows: financial assets or financial liabilities designated at fair value through current profit and loss, including: trading financial investment, held-to-maturity investment, loans and receivables, available-for-sale investment and other financial liabilities.
2. Recognition and measurement of financial instruments
(1) The financial assets(financial liabilities) at fair value through profit or loss includes:
The financial assets (financial liabilities) at fair value through profit or loss are recognized initially at fair value (minus cash dividends declared but not received or bond interest matured but not drawn yet). The relevant transaction cost is recognized in the income statement when occurred.
Interests or cash dividends during the period of holding are recognized as investment gains. The fair value will be adjusted and accounted as current gain/loss.
When disposed, the differences between fair value and initial amount are recognized as investment gains, and thus adjust the gain/loss of fair value.
(2) Held-to-maturity investment
The Held-to-maturity investments are recognized initially at fair value (minus bond interest matured but not drawn yet). The relevant transaction cost is recognized in the income statement when occurred.
The held-to-maturity investments are measured at amortized cost using the effective interest rate. The interest income is recognized as investment income. The effective interest will be determined at the initial recognition and will not be changed in the holding period or within the applicable period.
When disposing the held-to-maturity investment, the difference between the investing proceeds and the carrying value is recognized as investment income.
(3) Receivables
Receivables from selling products and rendering services or receivable of other company not including the receivables with quoted price in the active market (including: accounts receivable, other receivables, notes receivable, prepayments, long-term receivables) are measured at contract price; if the receivables is of financing nature, it shall be recognized at the present value initially.
When disposing the receivables, the difference between the proceeds and the carrying value is recognized in the income statement. (4) Available for sale financial assets
Available for sale financial assets are initially recorded at fair value plus any directly attributable transaction costs on the trade date and subsequently re-measured at fair value. The price including the declared but not received bond interest or cash dividend is recognized as a separate item.
The Company recognizes the interest or cash dividends as investment income. At each balance sheet date, available-for-sale
financial assets are measured at fair value and the fair value changes are recognized in the capital reserve - other capital
Bengang Steel Plates Co., Ltd. Interim Report 2015 Full Text reserve.
The difference between the proceeds of the disposal and the carrying value shall be recognized as investment income. And the related fair value change in theshareholders‟ equity shall be transferred out, and recorded as investment income.
(5) Other financial liabilities
For other financial liabilities, they are initially recognized at fair value plus any directly attributable transaction costs. After the initial recognition, the other financial liabilities are measured at amortized cost.
3. Basis of recognition and accounting of financial asset transferring
Where an enterprise has transferred nearly all of the risks and rewards related to the ownership of the financial asset to the transferee, it shall stop recognizing the financial asset. If it retained nearly all of the risks and rewards related to the ownership of the financial asset, it shall not stop recognizing the financial asset.
To judge whether the transfer of a financial asset can satisfy the conditions as prescribed in these Standards for stopping the recognition of a financial asset, the enterprise shall pay more attention to the essential of the transfer of the financial asset.
(1) Book value of the financial asset to be transposed;
(2) The sum of price received due to the transposition, and the accumulation of change in fair value originally accounted asowners‟ equity (when the asset to be transposed is saleable financial asset).
If the transfer of partial financial asset satisfies the conditions to stop the recognition, the entire book value of the transferred financial asset shall, between the portion whose recognition has been stopped and the portion whose recognition has not been stopped, be apportioned according to their respective relative fair value, and the difference between the amounts of the following 2 items shall be included into the profits and losses of the current period :
(1) The book value of the portion whose recognition has been stopped;
(2) The sum of consideration of the portion whose recognition has been stopped, and the portion of the accumulative amount of the changes in the fair value originally recorded in the owner's equities which is corresponding to the portion whose recognition has been stopped (in the event that the financial asset involved in the transfer is a financial asset available for sale).
If the transfer of financial assets does not satisfy the conditions to stop the recognition, it shall continue to be recognized as financial assets and the consideration received shall be recognized as financial liabilities.
4. Termination of financial liability recognition
Only when the prevailing obligations of a financial liability are relieved in all or in part may the recognition of the financial liability be terminated in all or partly. Where an enterprise (debtor) enters into an agreement with a creditor so as to substitute the existing financial liabilities by way of any new financial liability, and if the contractual stipulations regarding the new financial liability is substantially different from that regarding the existing financial liability, it shall terminate the recognition of the existing financial liability, and shall at the same time recognize the new financial liability.
Where an enterprise makes substantial revisions to some or all of the contractual stipulations of the existing financial liability, it shall terminated the recognition of the existing financial liability or part of it, and at the same time recognize the financial liability after revising the contractual stipulations as a new financial liability.
Where the recognition of a financial liability is totally or partially terminated, the enterprise concerned shall include into the profits and losses of the current period the gap between the carrying amount which has been terminated from recognition and the considerations it has paid (including the non-cash assets it has transferred out and the new financial liabilities it has assumed). Where an enterprise buys back part of its financial liabilities, it shall distribute, on the repo day, the carrying amount of the whole financial liabilities in light of the comparatively fair value of the part that continues to be recognized and the part whose recognition has already been terminated. The gap between the carrying amount which is distributed to the part whose recognition has terminated
Bengang Steel Plates Co., Ltd. Interim Report 2015 Full Text and the considerations it has paid (including the noncash assets it has transferred out and the new financial liabilities it has assumed) shall be recorded into the profits and losses of the current period.
5. Determination of the fair value
The fair values of the financial assets or financial liabilities measured at fair value shall be determined by reference to the quoted prices in the active market.
6. Impairment provision of the financial assets (not including accounts receivables)
The Company shall carry out impairment review for the financial assets at the balance sheet date except for the financial assets at fair value through profit or loss. Where there is any objective evidence proving that such financial asset has been impaired, an impairment provision shall be made.
(1) Impairment of available-for-sale financial assets
An impairment provision shall be made where the fair value of the held-to-maturity financial assets drops significantly at the balance sheet date or the trend of decrease is expected not to be temporary after taking various factors into consideration. The accumulative losses arising from the decrease of the fair value of theowners‟ equity which was directly included shall be transferred out and recorded as impairment loss.
Where any available-for-sale debt instruments is recognized as having suffered from any impairment loss, if there is any objective evidence proving that the value of the said debt instruments has been restored, and it is objectively related to the events that occur after such loss is recognized, the impairment-related losses as originally recognized shall be reversed and be recorded into the profits and losses of the current period.
Impairment losses incurred by investment transactions of available-for-sale equity instruments shall not be reversed through profits and losses.
The criteria for “serious” level of the decrease of fair value of available-for-sale financial instruments are as follows: the decrease of fair value for the equity investment with the active transaction in a market of good liquidity is normally50%. The decrease of fair value of the equity investment without good market liquidity is normally30%; the criteria for “non-temporary” decrease of fair value is continuous decrease over 12 months; the cost of investment is based on the purchase price.
(2) Impairment of held-to-maturity investment
The impairment of the held-to-maturity investment can be measured by reference to the measurement of the impairment of accounts receivables.
11. Account receivable
(1) Bad debt provision on receivable accounts with major amount individually
|||
|-|-|
|Basis of recognition or standard amount of individual account|Balance of account receivable RMB10 million; other account|
|with large amount|receivable RMB5 million or over.|
||The impairment test should be assessed individually for each|
||individually significant receivable. If the there is evidence|
||indicating the receivables have been impaired, the difference|
|Basis of bad debt provision|between the present value of the future cash flows and the book|
||value of receivables shall be recognized as bad debt provision|
||and shall be recorded into the profits and losses at the current|
||period.|

Bengang Steel Plates Co., Ltd. Interim Report 2015 Full Text (2) Receivable accounts on which bad debt provisions are provided as groups
|||
|-|-|
|Name of the portfolio|Basis of providing bad debt provisions|
|Receivable account with minor amount and tested individually||
||Age analysis method|
|and not impaired||

Accounts on age basis in the portfolio:
[V] ApplicableNot applicable
||||
|-|-|-|
|||Rate of provision on other receivable|
|Age|Rate of provision on receivable accounts||
|||accounts|
|1-2 yrs|5.00%|5.00%|
|2-3 yrs|20.00%|20.00%|
|Over 3 yrs|100.00%|100.00%|

 Accounts on percentage basis in the portfolio:
[] Applicable;[V] Not applicable
Accounts on other basis in the portfolio:
[] Applicable;[V] Not applicable
(3) Receivable accounts with minor amount but bad debt provisions are provided individually
|||
|-|-|
|Basis of providing bad debt individually|When there is solid evidence showing that it is not retrievable.|
||When there is solid evidence showing that the possibility of|
||retrieving is minor, the account shall be tested for impairment|
|Basis of bad debt provision||
||individually and bad debt provision shall be provided at the|
||estimated unrecoverable amount.|

12. Inventories
1. Categories of inventory
Inventories include material in transit, raw material, low-valued consumables, work in process, finished goods, materials for consigned processing, etc.
2. Pricing of inventory on delivery
When inventories are delivered, the effective costs are recognized by weighted average method.
3. Recognition of realizable net value of inventory and providing of inventory impairment provision
At the year end, complete check of the inventories shall be carried out and on the date of balance sheet, the inventories shall be measured whichever is lower in accordance with the cost and the net realizable value.
The net realizable value of inventories (finished products, stock commodity, material etc.) held for direct selling in the daily business
activity shall be calculated by deducting the estimated sale expense and relevant taxes from the estimated sale price of inventories.
The net realizable value of inventories for further processing in the daily business activity shall be calculated by deducting the
Bengang Steel Plates Co., Ltd. Interim Report 2015 Full Text estimated cost of completion, estimated sale expense and relevant taxes from the estimated sale price of inventories. The net realizable value of inventories held for the execution of sales contracts or labor contracts shall be calculated on the ground of the contract price. If an enterprise holds more inventories than the quantities subscribed in the sales contract, the net realizable value of the excessive part of the inventories shall be calculated on the ground of the general sales price.
The Company shall make provision for loss on decline in value of inventories on the ground of each item of inventories at the year end. For inventories with large quantity and relatively low unit prices, the provision for loss on decline in value of inventories shall be made on the ground of the categories of inventories.
Net realizable value of inventories are market price at balance date unless any indication that the market price at balance date appears abnormally.
The net realizable value of inventory at the year-end is based on the market price at the balance sheet date.
When the circumstances of deducting the inventory value have eliminated, the deducted amount should be restored and written back within the original amount of impairment provision provided previously.
4. Inventory basis
The Company use perpetual inventory system.
5. Amortizing of low-value consumables and packaging materials
(1)Low-valued consumables should be amortized in full amount on issuance.
(2)Packing materials should be amortized in full amount on issuance.
13. Categorizing of asset held for sale
14. Long-term equity investment
1. Criteria of join control and significant influence
Joint control is the contractually agreed sharing of control of an arrangement, which exists only when decisions about the relevant activities require the unanimous consent of the parties sharing control.
Significant influence is the power to participate in the financial and operating policy decisions of the investee but not control or join control of those policies. If the Company could exert significant influence over the investee, the investee is the associate of the Company.
2. The initial cost of long-term equity investment from business acquisition
(1) Long-term equity investment formed by merger
For the acquisition under the common control, if the consideration of the acquiring enterprise is that it makes payment in cash, transfers non-cash assets, bears its debts, or issues equity securities, it shall, on the date of acquisition, regard the share of the book value of the owner's equity of the acquired enterprise as the initial cost of the long-term equity investment. The difference between the initial cost of the long-term equity investment and the payment borne by the acquiring party shall offset against the capital reserve. If the capital reserve is insufficient to dilute, the retained earnings shall be adjusted. The direct cost for the business combination of the combining party, including the expenses for audit, assessment and legal services, shall be recorded into the profits and losses at the current period.
For the combination not under the common control, the combination costs shall be the fair values, on the acquisition date, of the assets paid, the liabilities incurred or assumed and the equity securities issued by the acquirer in exchange for the control on the acquiree. Agency fees incurred for business combination by the acquirer, including audit fee, legal services, evaluation and consultation fee, shall be recorded in current profits and losses when incurred. Trading costs of issuance cost of equity securities or debt securities as the consideration for business combination by the acquirer shall be recorded in initial cost of such equity securities or debt securities. For a business combination realized by two or more transactions of exchange, the combination costs shall be the sum of the costs of all separate transactions. Where any future event that is likely to affect the combination costs is stipulated in the combination contract or agreement, if it is likely to occur and its effects on the combination costs can be measured reliably, the acquirer shall record the said amount into the combination costs.
Bengang Steel Plates Co., Ltd. Interim Report 2015 Full Text (2) Long-term equity investment obtained by other ways
The initial cost of a long-term equity investment obtained by making payment in cash shall be the purchase cost which is actually paid.
Long-term equity investment obtained by placing of equity stocks is recognized for initial investment cost at the fair value of the stock.
If the exchange of non-monetary assets is commercial in nature and the fair values of both the assets received and surrendered can be reliably measured, the fair value of the assets surrendered shall be used as the basis for determining the cost of the assets received, unless there is any exact evidence showing that the fair value of the assets received is more reliable. Where any non-monetary assets transaction does not meet the conditions as prescribed above, the carrying value and relevant payable taxes of the assets surrendered shall be the initial cost of the assets received.
Long-term equity investment obtained through debt reorganizing is recognized for initial investment cost at fair value. 3. Subsequent measurement and profit or loss recognition
(1) Cost method
The Company adopts cost method for the long term investment in subsidiary company. Under the cost method, an investing enterprise shall, in accordance with the attributable share of the net profits or losses of the invested entity, recognize the investment profits or losses except the dividend declared but unpaid, which is included in the payment when acquiring the investment.
(2) Equity method
A long-term equity investment in an associate or a joint venture shall be accounted for using the equity method. Where the initial investment cost of a long-term equity investment exceeds taninvestor‟s interest in the fair values of aninvestee‟s identifiable net assets at the acquisition date, no adjustment shall be made to the initial investment cost. Where the initial cost is less than theinvestor‟s interest in the fair values of theinvestee‟s identifiable net assets at the acquisition date, the difference shall be credited to profit or loss for the current period, and the cost of the long-term equity investment shall be adjusted accordingly.
The Company shall recognize its share of theinvestee‟s net profits or losses, as well as its share of theinvestee‟s other comprehensive income, as investment income or losses and other comprehensive income, and adjust the carrying amount of the investment accordingly. The carrying amount of the investment shall be reduced by the portion of any profit distributions or cash dividends declared by the investee that is attributable to the investor. Theinvestor‟s share of theinvestee‟sowners‟ equity changes, other than those arising from theinvestee‟s net profit or loss, other comprehensive income or profit distribution, and the carrying amount of the long-term equity investment shall be adjusted accordingly.
The investor shall recognize its share of theinvestee‟s net profits or losses after making appropriate adjustments based on the fair values of theinvestee‟s identifiable net assets at the acquisition date.
The unrealized profits or losses resulting from transactions between the investor and its associate or joint venture shall be eliminated in proportion to theinvestor‟s equity interest in the investee, based on which investment income or losses shall be recognized. Any losses resulting from transactions between the investor and investee which are attributable to asset impairment shall be recognized in full.
If the transaction of investment or sale of assets among the Company and associate and joint venture and the assets is a business, it shall apply the treatment mentioned in Note 2 (5) “The accounting treatment for Business combination under/now under common control” and Note 2 (6) “Consolidation of Financial Statements”.
When the Company recognizes the losses of invested enterprise, it shall follow the following sequence: First of all, offset the book value of long term equity investment. If the book value of long term equity is insufficient to dilute, the investing enterprise shall recognize the net losses of the invested enterprise until the book value of the long-term equity investment and other long-term rights and interests which substantially form the net investment made to the invested entity are reduced to zero. If the company still has the obligation to undertake extra losses per contract, and then estimated liabilities shall be recognized into current profit and loss accordingly to the estimated obligation.
(3) Disposal of long-term equity investment
On disposal of a long-term equity investment, the difference between the proceeds actually received and the carrying amount shall be recognized in profit or loss for the current period.
When the previously-held equity investment is accounted for under the equity method, any other comprehensive income previously recognized shall be accounted for on the same basis as would have been required if the investee had directly disposed of the related assets or liabilities.
Bengang Steel Plates Co., Ltd. Interim Report 2015 Full Text Those owner's equity recognized other than the change of net profits or loss, other comprehensive income, profit distribution of the invested entity shall be transferred proportionally into profit or loss of current period, other comprehensive income arising from the remeasurement of defined benefit plan is excluded.
When an investor can no longer exercise joint control of or significant influence over an investee due to partial disposal of equity investment or other reasons, the remaining equity investment shall be accounted for in accordance with “Accounting Standard for Business Enterprises No. 22-Financial instruments: recognition and measurement”. The difference between the fair value and the carrying amount at the date of the loss of join control or significant influence shall be charged to profit or loss for the current period. When the previously-held equity investment is accounted for under the equity method, any other comprehensive income previously recognized shall be accounted for on the same basis as would have been required if the investee had directly disposed of the related assets or liabilities for the current period upon discontinuation of the equity method.
Those owner's equity recognized other than the change of net profits or loss, other comprehensive income, profit distribution of the invested entity shall be transferred into profit or loss of current period in full when the Company cease to adopt the equity method.
When the Company can no longer exercise control over an investee due to partial disposal of equity investment or other reasons, and with the retained interest, still has joint control of, or significant influence over, the investee, when preparing the individual financial statements, the investor shall change to the equity method and adjust the remaining equity investment as if the equity method had been applied from the date of the first acquisition. If the investor cannot exercise joint control of or significant influence over the investee after partial disposal of equity investment, the remaining equity investment shall be accounted for in accordance with “Accounting Standard for Business Enterprises No.22-Financial instruments: Recognition and Measurement”, and the difference between the fair value and carrying amount at the date of the loss of control shall be charged to profit or loss for the current period.
When the equity investment disposed is acquired through business combination due to additional investment or other reasons, in stand-alone financial statement, the remaining equity investment shall adopt cost method or equity method, any other comprehensive income and otherowner‟s interests previously recognized of the previously-held equity investment under the equity method shall be transferred proportionally.
For those remaining equity investment accounted for in accordance with “Accounting Standard for Business Enterprises No.22-Financial instruments: Recognition and Measurement” after disposal, other comprehensive income and otherowner‟s interests previously recognized shall be transferred to profit or loss in full.
15. Investment property
The term "investment properties" refers to the real estate held for generating rent and/or capital appreciation. The investment properties include:
(1) The land use right which has already been rented;
(2) The land use right which is held and prepared for transfer after appreciation; and
(3) The building which has already been rented (including buildings self-constructed or developed for rent after completion or buildings being built or developed for future rent).
The investment properties shall be measured by the cost model. For the investment properties measured at cost model and building for rent, the same depreciation policy shall be adopted as that of fixed assets; for land use right, the same amortization policy shall be adopted as that of intangible assets.
16. Fixed assets
(1) Basis of recognition
The term "fixed assets" refers to the tangible assets that simultaneously possess the features as follows: (1) They are held for the sake of producing commodities, rendering labor service, renting or business management; and (2) Their useful life is in excess of one fiscal year.
Bengang Steel Plates Co., Ltd. Interim Report 2015 Full Text (2) Depreciation
||||||
|-|-|-|-|-|
|Categories|Basis of depreciation|Depreciation Period|Retain value rate|Annual depreciation ratio|
||Straight average on||||
|Houses & buildings||8-40 yrs|0|2.50-12.50%|
||period||||
||Straight average on||||
|Equipment & machinery||4-18 years|3%|5.39-24.25%|
||period||||
|Vehicle and other|Straight average on||||
|||5-18 years|3%|5.39-19.40%|
|equipment|period||||

(3) Recognition and pricing of fixed asset leased by financing
When one of the following conditions was satisfied, it will be recognized as asset leased by financing:
(1) The ownership will be under the possession of the Company upon expiration of leasing period;
(2) The option to acquire the asset is open to the Company, and with a price far lower than the fair value of the asset on execution of the option.
(3) The leasing period is taking the majority part of its useful life;
(4) There is no material difference between the current value of the lowest rental at the starting date and the fair value of the asset. At the starting date, the Company recorded the lower one of fair value and the current value of the lowest rental as the book value of the leased asset, the lowest rental payment as the book value of long term payable, and the difference was recorded as unrecognized financing expenses.
17. Construction-in-process
The cost of fixed assets transferred from a construction in progress includes all the necessary expenses incurred for bringing the asset to the expected conditions for use. Construction in progress is transferred to fixed asset when it has reached its working condition for its intended use. In case the final project accounts have not been completed or approved, the asset shall be transferred to fixed assets at an estimated value by considering project budget, cost or actual cost of the project and etc., and the deprecation of the said fixed assets shall be provided in accordance with theCompany‟s accounting policy since it has reached its working condition for its intended use. After the project accounts have been approved, the estimated values shall be adjusted based on the actual cost, but those provided deprecation shall not be adjusted.
18. Borrowing expenses
1. Recognition principles for capitalizing of borrowing expenses
The borrowing costs shall include interest on borrowings, amortization of discounts or premiums on borrowings, ancillary expenses, and exchange balance on foreign currency borrowings.
Borrowing expenses occurred to the Company that can be accounted as purchasing or production of asset satisfying the conditions of capitalizing, are capitalized and accounted as cost of related asset. Other borrowing expenses are recognized as expenses according to the occurred amount, and accounted into gain/loss of current term.
The term "assets eligible for capitalization" shall refer to the fixed assets, investment real estate, inventories and other assets, of which the acquisition and construction or production may take quite a long time to get ready for its intended use or for sale.
When a borrowing expense satisfies all of the following conditions, it is capitalized:
(1) Asset expense has already occurred. Asset expenses include cash payment, non-cash asset transferring, or undertaking of debt
with interest done for purchasing or producing of assets.
Bengang Steel Plates Co., Ltd. Interim Report 2015 Full Text (2) The borrowing expense has already occurred.
(3) Purchasing or production activity, which is necessary for the asset to reach the useful status, has already started.
2. Capitalizing period of borrowing expenses
The capitalization period shall refer to the period from the commencement to the cessation of capitalization of the borrowing costs, excluding the period of suspension of capitalization of the borrowing costs.
Capitalizing of borrowing expenses terminates when the purchased or produced asset reaches the supposed useful or saleable status. When purchasing or producing of part of the asset, which satisfies the capitalizing conditions, has finished and could be used separately, capitalizing of borrowing expenses for this part of asset is terminated.
Where each part of an asset under acquisition and construction or production is completed separately and is ready for use or sale during the continuing construction of other parts, but it cannot be used or sold until the asset is entirely completed, the capitalization of the borrowing costs shall be ceased when the asset is completed entirely.
3. The suspension of capitalization of borrowing costs
If the construction or production of assets satisfying the capitalizing conditions is suspended abnormally for over 3 months, capitalizing of borrowing expenses shall be suspended. Borrowing expenses occurred in the suspension period are recognized as expenses and recorded to current income account, until the construction or production is resumed. If the suspension is an essential process to make the asset usable or sellable, capitalizing of borrowing expenses shall be carried forward.
4. Method of calculating the capitalized amount of borrowing costs
For interest expense (minus the income of interests earned on the unused borrowing loans as a deposit in the bank or investment income earned on the loan as a temporary investment) and the ancillary expense incurred to a specifically borrowed loan, those incurred before a qualified asset under acquisition, construction or production is ready for the intended use or sale shall be capitalized at the incurred amount when they are incurred, and shall be recorded into the costs of the asset eligible for capitalization;
The enterprise shall calculate and determine the to-be-capitalized amount of interests on the general borrowing by multiplying the weighted average asset disbursement of the part of the accumulative asset disbursements minus the general borrowing by the capitalization rate of the general borrowing used. The capitalization rate shall be calculated and determined in light of the weighted average interest rate of the general borrowing.
Where there is any discount or premium, the amount of discounts or premiums that shall be amortized during each accounting period shall be determined by the effective interest rate method, and an adjustment shall be made to the amount of interests in each period.
19. Biological assets
20. Petroleum assets
21.
Intangible assets
(1) Price, useful age, and impairment test
1. Evaluating of intangible assets
(1) Initial measurement is based on cost upon acquisition
The cost of an intangible asset on acquisition include the purchase price, relevant taxes and other necessary disbursements
Bengang Steel Plates Co., Ltd. Interim Report 2015 Full Text which may be directly attributable to bringing the intangible asset to the conditions for the expected purpose. If the payment for an intangible asset is delayed beyond the normal credit conditions and it is of the financing nature, the cost of the intangible asset shall be determined on the basis of the present value of the purchase price.
For intangible assets obtained from debt restructuring as settlement of liabilities from debtors, initial recognition is based on its fair value, and the difference between the debt restructured and the fair value of the intangible assets are recognized in the current profit and loss.
For intangible assets obtained from non-monetary transactions with commercial substance, and the fair value of the assets obtained or surrendered can be reliably measured, the initial recognition of the asset obtained is based on the fair value of the asset surrendered, unless there is strong evidence that the fair value of the asset obtained is more reliable. For intangible assets obtained through non-monetary transactions which do not meet the above criteria, the initial recognition is based on the book value of the assets surrendered and the relevant taxes payable. No gain or loss will be recognized.
(2) Subsequent Measurement
The Company shall analyze and judge the beneficial period of intangible assets upon acquisition.
Intangible assets with finite beneficial period shall be amortized under the straight-line method during the period when the intangible asset can bring economic benefits to the enterprise. If it is unable to estimate the beneficial period of the intangible asset, it shall be regarded as an intangible asset with uncertain service life and shall not be amortized.
2. Estimated useful lives of intangible assets with limited useful lives
Item Estimated useful life Criteria
Land use right 50 years Land use right certificate At the end of the year, review the amortization method and finite useful life of intangible life.
There is no difference of amortization method and useful life as expected.
3. Determination of intangible assets with uncertain useful lives
At the end of the year, review the amortization method and finite useful life of intangible life.
There is no difference of amortization method and useful life as expected.
(2) Accounting policies for expenses of internal research
1. Classification criteria for internal research phase and development phase
The specific standards of differentiating research stage and development stage of internalR&Dprojects：
Research stage is the planned research for obtaining knowledge of new technology, the preparation for further development. Development stage is applying specific researching results and other technologies to some plans or designs to produce new material, devices and products.
2. Criteria of capitalization of development expenditure
Expenditures during the development phase of internal research and development projects shall be recognized as intangible assets when they meet all the following criteria:
(1) It is feasible technically to complete the intangible assets for use or sale;
(2) The intention to complete and use or sell the intangible assets is present;
(3) The method of which the intangible assets generate economic benefits shall be proved, including being able to prove that there is a potential market for the products manufactured by applying the intangible assets or there is a potential market for the intangible assets itself or the intangible assets will be used internally;
(4) It is able to finish the development of the intangible assets, and able to use or sell the intangible assets, with the support of sufficient technologies, financial resources and other resources; and
(5) The development expenditures of the intangible assets can be reliably measured.
Bengang Steel Plates Co., Ltd. Interim Report 2015 Full Text The development expenditures for its internal research and development projects of the Company shall be recorded into the profit or loss for the current period if the above said conditions are not satisfied simultaneously. The research expenditures for its internal research and development projects of an enterprise shall be recorded into the profit or loss for the current period when incurred. 22. Impairment of long-term assets
For long-term assets under the cost model such as fixed assets, construction in progress, intangible assets etc., the Company shall perform impairment tests at the period end if there is clear indication of impairment.
If the recoverable amounts of long-term assets are less than their carrying amounts, the carrying amounts of the assets shall be written down to their recoverable amounts. The write-downs are recognized as impairment losses and charged to current profit and loss. The recoverable amounts of long-term assets are the higher of their fair values less costs to sell and the present values of the future cash flows expected to be derived from the assets. The Company shall estimate its recoverable amount on an individual basis. Where it is difficult to do so, it shall determine the recoverable amount of the group assets on the basis of the asset group to which the asset belongs. The term "group assets” refers to a minimum combination of assets by which the cash flows could be generated independently
The goodwill shall be subject to an impairment test at least at the end of each year.
When the Company makes an impairment test of assets, it shall, as of the purchasing day, apportion the carrying value of the business reputation formed by merger of enterprises to the relevant asset groups by a reasonable method. Where it is difficult to do so, it shall be apportioned to the relevant combinations of asset groups.
When apportioning the carrying value of the business reputation to the relevant asset groups or combinations of asset groups, it shall be apportioned on the basis of the proportion of the fair value of each asset group or combination of asset groups to the total fair value of the relevant asset groups or combinations of asset groups. Where it is difficult to measure the fair value reliably, it shall be apportioned on the basis of the proportion of the carrying value of each asset group or combination of asset groups to the total carrying value of the relevant asset groups or combinations of asset groups.
When making an impairment test on the relevant asset groups or combination of asset groups containing business reputation, if any evidence shows that the impairment of asset groups or combinations of asset groups is possible, the Company shall first make an impairment test on the asset groups or combinations of asset groups not containing business reputation, calculate the recoverable amount, compare it with the relevant carrying value and recognize the corresponding impairment loss. Then the Company shall make an impairment test of the asset groups or combinations of asset groups containing business reputation, and compare the carrying value of these asset groups or combinations of asset groups (including the carrying value of the business reputation apportioned thereto) with the recoverable amount. Where the recoverable amount of the relevant assets or combinations of the asset groups is lower than the carrying value thereof, it shall recognize the impairment loss of the business reputation.
Impairment losses on long-term assets shall not be reversed in subsequent accounting periods once recognized.
23. Long-term expenses to be amortized
Long-term expenses are those which already occurred and amortizable to the current period and proceeding periods for over one year.
Bengang Steel Plates Co., Ltd. Interim Report 2015 Full Text Long-term expenses are amortized straightly to the beneficiary period.
24. Employee wages
(1) Accounting treatment for short employee benefit
The Company shall recognized , in the accounting period in which an employee provides service, actually occurred short-term employee benefits as a liability, with a corresponding charge to the profit or loss or cost of an asset for the current period.
Payments made by an enterprise of social security contributions for employees, payments of housing funds, and union running costs employee education costs provided in accordance with relevant requirements shall, in the accounting period in which employees provide services, be calculated according to prescribed bases and percentages in determining the amount of employee benefits.
The employee benefits which are non-monetary benefits shall be measured at fair value if it could be measured reliably.
(2) Accounting treatment of post-employment benefits
1) Defined contribution plan
The Company shall recognize, in the accounting period in which an employee provides service, pension fund and unemployment fund for employees as a liability according to the local government regulations. The amount shall be calculated according to local prescribed bases and percentages in determining the amount of employee benefits, with a corresponding charge to the profit or loss or cost of an asset for the current period. 2) Defined benefit plan
None
3) Accounting treatment of termination benefits
The Company which provides termination benefits to employees shall recognize an employee benefits liability for termination benefits, with a corresponding charge to the profit or loss for the current period, at the earlier of the following dates:
(1) When the Company cannot unilaterally withdraw the offer of termination benefits because of an employment termination plan or a curtailment proposal
(2) When the Company recognizes costs or expenses related to a restructuring that involves the payment of termination benefits
4) Accounting treatment of other long-term employee benefits payable
None
25. Anticipated liabilities
1) Recognition Criteria of estimated liabilities
The obligation pertinent to a Contingency (litigation, guarantees, loss contract, restructuring) shall be recognized as an estimated liabilities when the following conditions are satisfied simultaneously:
Bengang Steel Plates Co., Ltd. Interim Report 2015 Full Text (1) That obligation is a current obligation of the enterprise;
(2) It is likely to cause any economic benefit to flow out of the enterprise as a result of performance of the obligation; and (3) The amount of the obligation can be measured in a reliable way.
2) Measurement of estimated liabilities
The estimated debts shall be initially measured in accordance with the best estimate of the necessary expenses for the performance of the current obligation.
To determine the best estimate, an enterprise shall take into full consideration of the risks, uncertainty, time value of money, and other factors pertinent to the Contingencies. If the time value of money is of great significance, the best estimate shall be determined after discounting the relevant future outflow of cash.
The best estimate shall be conducted in accordance with the following situations, respectively:
If there is a continuous range for the necessary expenses and if all the outcomes within this range are equally likely to occur, the best estimate shall be determined in accordance with the average estimate within the range, that is, the average of the upper and lower limit.
If there is not a sequent range for the necessary expenses and if the outcomes within this range are not equally likely to occur, the best estimate shall be determined as follows:
(1) If the Contingencies concern a single item, it shall be determined in the light of the most likely outcome.
(2) If the Contingencies concern two or more items, the best estimate shall be calculated and determined in accordance with all possible outcomes and the relevant probabilities.
When all or some of the expenses necessary for the liquidation of an estimated debts of an enterprise is expected to be compensated by a third party, the compensation shall be separately recognized as an asset only when it is virtually certain that the reimbursement will be obtained. The amount recognized for the reimbursement shall not exceed the book value of the estimated debts.
26. Disburse of shares
27. Preference shares, perpetual debit, and other financial instruments
28. Revenue
1. Recognition Criteria for the Revenue from sale of goods
(1) The general principle of revenue recognition and measurement
The Company has transferred to the buyer the significant risks and rewards of ownership of the goods; and retained neither continuing managerial involvement which usually relates to the ownership nor exerts effective control over the goods sold. The relevant amount of revenue can be measured reliably, the economic benefits related to the transaction will flow into the enterprise; and the relevant costs incurred or to be incurred can be measured reliably. Revenue from the sale of goods may be recognized.
(2) The specific criteria of revenue recognition and measurement
The amount of sale of goods is recognized according to the contract or agreement terms.
2. Recognition Criteria for the Revenue from alienating of Assets Use Rights
(1) The general principle
When it is probable that economic benefits in relation to the transaction will flow into the enterprise; and the amount of revenues can be measured reliably. The Company shall ascertain the amount of revenues from the transfer of Assets Use Right based on the following circumstances respectively:
(1) Interest income shall be calculated based on the duration of which the Company's cash is used by others and the actual interest rate; or
(2) Royalty revenue shall be calculated based on the period and method of charging as stipulated in the relevant contract or agreement.
(2) The evidence of recognition of Revenue from alienating of Assets Use Rights
Bengang Steel Plates Co., Ltd. Interim Report 2015 Full Text (1) The agreement alienating of Assets Use Rights of has been signed and provided to users; and
(2) The timing for collecting the fee is due.
3. Recognition Criteria for the Revenue from Providing Labor Services and Construction Contracts under Percentage of Completion Method
Revenue from providing labor services are recognized under the percentage of completion method if the outcome of the labor service provision transaction can be reliably measured. Percentage completed is determined by measurement of work completed.
Total revenue from providing of labor services is determined based on the received or receivable amount stipulated in the contract or agreement, unless the received or receivable amount as stipulated in the contract or agreement is unfair. The Company shall, on the date of the balance sheet, ascertain the current revenue from providing labor services by multiplying the total amount of revenues from providing labor services with the percentage completion, less cumulative revenues recognized in the previous accounting periods. At the same time, the enterprise shall recognize current cost of labor services by multiplying the total estimated cost of providing of labor services with percentage completion less cumulative costs recognized in the previous accounting periods.
If the result of a transaction concerning the providing of labor services cannot be reliably measured at the balance sheet date, it shall be measured as follows:
(1) If the cost of labor services incurred is expected to be compensated, the revenue from the providing of labor services shall be recognized to the extent of the cost of labor services incurred, and the cost of labor services shall be recognized; or (2) If the cost of labor services incurred is not expected to compensate, the cost incurred shall be recognized in the current profit and loss, and no revenue from the providing of labor services shall be recognized.
29. Government allowance
1. Types of government subsidies
A government subsidy means the monetary or non-monetary assets obtained free of charge by the Company from the government. Government subsidies consist of the government subsidies pertinent to assets and government subsidies pertinent to income.
2. Recognition
If clear evidence shows that conditions for granting the finance support fund can be met and the finance support fund is supposed to be received, the amount of receivable can be recognized.
If no clear evidence shows that the Company is expected to receive finance support or the conditions for granting the finance support fund can be met, recognized the government subsidies when the conditions are met and the amount are received.
3. Accounting treatment
The government subsidies pertinent to fixed assets and intangible assets acquired and constructed shall be recognized as deferred income and equally recognized over the useful lives of the relevant assets as non-operating income.
The government subsidies pertinent to incomes to subsidize future expenses shall be recognized as deferred income and transferred to non-operating income in the period during which the expenses subsidized is recognized. Government subsidies to subsidize past expenses or losses shall be recognized in the statement of comprehensive income in the period during which the subsidy is received.
30. Deferred income tax assets/ deferred income tax liabilities
The Company shall recognize the deferred income tax liabilities arising from a deductible temporary difference to the extent of the amount of the taxable income which it is most likely to obtain and which can be deducted from the deductible temporary difference.
As for any deductible loss or tax deduction that can be carried forward to the next year, the corresponding deferred income tax
Bengang Steel Plates Co., Ltd. Interim Report 2015 Full Text assets shall be determined to the extent that the amount of future taxable income to be offset by the deductible loss or tax deduction to be likely obtained.
All taxable temporary differences shall be recognized as deferred tax liabilities with certain limited exceptions.
Exceptions when deferred tax assets and deferred tax liabilities are not recognized include: initial recognition of goodwill; initial recognition of an asset or liability in a transaction or event that is not a business combination and at the time of the transaction, affects neither accounting profit nor taxable profit (tax loss)
The Company shall offset deferred tax assets and deferred tax liabilities if, and only if: (a) the entity has a legally enforceable right to set off current tax assets against current tax liabilities; and (b) the deferred tax assets and the deferred tax liabilities relate to income taxes levied by the same taxation authority on either:(i) the same taxable entity; or (ii) different taxable entities which intend either to settle current tax liabilities and assets on a net basis, or to realize the assets and settle the liabilities simultaneously, in each future period in which significant amounts of deferred tax liabilities or assets are expected to be settled or recovered.
31. Leasing
1) Accounting treatment of operating lease
1) The rents paid for operating leases shall be recorded in the profits and losses of the current period by using the straight-line method over each period of the lease term. The initial direct costs paid by the Company shall be recorded into the profits and losses of the current period
If the lessor has shouldered any expense related to the lease which shall have been borne by the Company, the Company shall deduct these expenses from the total rental expense and the remaining rental expense shall be allocated to each period during the lease term
2) The rents collected from operating leases shall be recorded in the profits and losses of the current period by using the straight-line method over each period of the whole lease term in which free lease period is included. The initial direct costs paid by the Company shall be recorded into the profits and losses of the current period. The initial direct costs shall be capitalized if it is material, and be allocated to each period as per the basis for rental revenue recognition.
If the Company has shouldered any expense related to the lease which shall have been borne by the lessee, the company shall deduct these expenses from the total rental revenue and the remaining rental revenue shall be allocated to each period during the lease term.
2) Accounting treatment of Financial leasing
1) Leased in asset
On the lease beginning date, a lessee shall record the lower one of the fair value of the leased asset and the present value of the minimum lease payments on the lease beginning date as the initial book value, recognize the amount of the minimum lease payments as the initial book value of long-term account payable, and treat the balance between the recorded amount of the leased asset and the long-term account payable as unrecognized financing charges.
The lessee shall adopt the effective interest rate method to calculate and recognize the financing charge in the current period. The unrecognized financing charge shall be amortized to each period during the lease term.
32. Other significant accounting policies and change of accounting estimate
33. Change of material accounting policies and estimations
(1) Material accounting policies
[] Applicable;[V] Not applicable
(2) Material estimations
[] Applicable;[V] Not applicable
Bengang Steel Plates Co., Ltd. Interim Report 2015 Full Text 34. Others
VI. Taxation
1. Types and rates of taxes
||||
|-|-|-|
|Class of tax|Tax basis|Tax rate|
||Calculated on tax law from selling goods||
||and taxable services based on the||
|VAT|calculation of output tax, after deduction of|17%|
||input tax deductibility of the current||
||period, the balance part of VAT payable||
||Calculated and paid according to the tax||
|Consumption tax|||
||code||
|Operational tax|Revenue of leasing and taxable services|5%|
||Paid upon actual amount of operational tax||
|City maintenance and construction tax||7%、5%|
||and VAT||
|Enterprise income tax|Taxable income|25%|
||Paid upon actual amount of operational tax||
|Education surcharge||3%、2%|
||and VAT||
||The balance of the building‟s original costs||
|Property tax||1.2%|
||minus 30% of original costs||

Statement on different taxpayers within the Company
|||
|-|-|
|Name of the taxpayer|Tax rate|

2. Preference tax rate
None
3. Others
VII. Notes to Consolidated Financial Statements
1. Monetary fund
In RMB
||||
|-|-|-|
|Items|Closing balance|Opening balance|
|Cash in stock|71,255.41|14,168.01|
|Bank deposit|3,520,017,124.93|9,283,113,740.33|

Bengang Steel Plates Co., Ltd. Interim Report 2015 Full Text
||||
|-|-|-|
|Other monetary fund|175,479,435.16|509,812,501.06|
|Total|3,695,567,815.50|9,792,940,409.40|

 Other statements
Notes: No funds are deposited abroad at the year-end.
The details of restricted monetary funds
||||
|-|-|-|
|Items|Notes|Closing balance|
|Margin for bank acceptance bill||175,479,435.16|
|Guarantee for Yield EnhancementProducts|(1)||
|Total||175,479,435.16|

Note (1): The Guarantee for Yield Enhancement Products is the deposit to acquire the short-term US dollar loan.
2. Financial assets measured by fair value with changes accounted into current gains
In RMB
||||
|-|-|-|
|Items|Closing balance|Opening balance|

Remarks:
None
3. Derivate financial assets
[] Applicable;[V] Not applicable
4. Notes receivable
1) Notes receivable disclosed by category
In RMB
||||
|-|-|-|
|Items|Closing balance|Opening balance|
|Bank acceptance bill|2,793,646,870.49|2,045,638,618.35|
|Commercial acceptance bill|152,403,936.09|43,400,642.78|
|Total|2,946,050,806.58|2,089,039,261.13|

 2) The pledged acceptance bill at the year-end
In RMB
|||
|-|-|
|Items|Amount on pledge|
|Bank acceptance bill|703,876,716.62|

Bengang Steel Plates Co., Ltd. Interim Report 2015 Full Text
|||
|-|-|
|Total|703,876,716.62|

 3) The amount of Notes receivable endorsed over but not yet matured at the year-end.
In RMB
||||
|-|-|-|
||Amount of terminate recognition at year||
|Items||Unrecognized ending balance|
||end||
|Bank acceptance bill|4,821,918,283.38||
|Commercial acceptance bill|42,278,618.98||
|Total|4,864,196,902.36||

4) Notes receivable has been transferred into accounts receivable due to inability of drawer to meet acceptance bill at the year-end.
In RMB
|||
|-|-|
|Items|Amount transferred to receivable accounts at year end|

 Other statements
None
5. Account receivable
(1) Accounts receivable disclosed by category
In RMB
||||||||||||
|-|-|-|-|-|-|-|-|-|-|-|
||Closing balance|||||Opening balance|||||
||Book balance||Bad debt provision|||Book balance||Bad debt provision|||
|Categories|||||Book||||||
|||Proportio|||||Proportio|||Book value|
||Amount||Amount|Rate|value|Amount||Amount|Rate||
|||n|||||n||||
|Accounts receivable|||||||||||
||468,839,||138,548,||330,290,8|630,346||142,579,0||487,767,04|
|tested for impairment||100.00%||29.55%|||100.00%||22.62%||
||559.45||756.55||02.90|,107.53||65.31||2.22|
|by portfolio|||||||||||
||468,839,||138,548,||330,290,802.90|630,346||142,579,0||487,767,042.22|
|Total||100.00%||29.55%|||100.00%||22.62%||
||559.45||756.55|||,107.53||65.31|||

 Receivables of insignificant items but tested for impairment individually
[] Applicable;[V] Not applicable
Account receivables on which bad debt provisions are provided on age basis in the group:
[V] Applicable[] Not applicable
In RMB
|||
|-|-|
|Age|Closing balance|

Bengang Steel Plates Co., Ltd. Interim Report 2015 Full Text
|||||
|-|-|-|-|
||Account receivable|Bad debt provision|Rate|
|Segments within 1 year||||
|within 1 yr|231,072,672.68|||
|Subtotal of within 1 year|231,072,672.68|||
|1-2 years|72,949,291.30|3,647,464.57|5.00%|
|2-3 years|37,395,379.36|7,479,075.87|20.00%|
|Over 3 yrs|127,422,216.11|127,422,216.11|100.00%|
|Total|468,839,559.45|138,548,756.55|29.55%|

 Remarks on categories of receivable account
1. Providing of bad debt provision on single receivable account with major amount
Standard for recognition of major amount single account:
Balance of account receivable RMB10 million; other account receivable RMB5 million or over.
Providing method of bad debt provisions on single receivable account with major amount
The impairment test should be assessed individually for each individually significant receivable. If the there is evidence indicating the receivables have been impaired, the difference between the present value of the future cash flows and the book value of receivables shall be recognized as bad debt provision and shall be recorded into the profits and losses at the current period.
2. Providing of bad debt provision by portfolios
Basis of recognition for portfolios
The portfolio: Receivable account with minor amount and tested individually and not
impaired
Basis of bad debt provision
The portfolio: Age analysis method
Accounts on age basis in the portfolio:
|||
|-|-|
|Age|Rate for receivables (%)|
|Within 1 yr, (included)||
|1-2 yrs (included)|5|
|2-3 yrs (included)|20|
|Over 3 yrs|100|

3、 Receivable accounts with minor amount but bad debt provision provided individually upon
(1) Reason of providing bad debt individually: concrete evidence showing that the account is irretrievable
(2) Basis of providing bad debt provisions:
Bengang Steel Plates Co., Ltd. Interim Report 2015 Full Text When there is solid evidence showing that the possibility of retrieving is minor, the account shall be tested for impairment individually and bad debt provision shall be provided at the estimated unrecoverable amount.
Receivable accounts on which bad debt provisions are provided on percentage analyze basis in a portfolio
[] Applicable;[V] Not applicable
Receivable accounts on which bad debt provisions are provided by other ways in the portfolio
None
(2) Receivable accounts written back or retrieved in the report period
Bad debt provision provided this period was RMB0.00.
Bad debt provision written back was RMB4,030,308.76 in the period.
Significant items of retrieving or writing back of bad debt provisions:
In RMB
||||
|-|-|-|
|Name of the companies|Amount retrieved or written back|way of retrieving|

(3) Receivable accounts actually written off in the report period
In RMB
|||
|-|-|
|Items|Amount written off|

Significant amount written off:
In RMB
|||||||
|-|-|-|-|-|-|
|Name of the|Property of the||Reason of writing|Written off|Created by related|
|||Amount written off||||
|companies|receivable account||off|procedures|transaction or not|

 Statement on writing off of receivable accounts.
None
(4) Top 5 debtors in the receivable accounts
||||
|-|-|-|
|Name of the companies|||
||Account receivable|Proportion in thetotal receivableaccount %|
|Liaoyang Petroleum Tube Co., Ltd.|47,889,868.98|10.21|
|Huayou Steel Tube Co., Ltd.|29,738,912.85|6.34|
|Benxi Steel (Group) Industrial DevelopmentCo., Ltd.|21,091,628.72|4.50|
|Benxi Steel (Group) Machinery Co., Ltd.|19,525,810.80|4.16|

Bengang Steel Plates Co., Ltd. Interim Report 2015 Full Text
||||
|-|-|-|
|Liaoning Hengtong Metallurgy Equipment Co.,Ltd.|16,234,400.77|3.46|
|Total|134,480,622.12|28.67|

(5) Recognition of receivable accounts terminated
None
(6) For securitization on receivable accounts, please provide the amount of asset and liability formed by continuous involving
None
6. Prepayment
(1) Prepayment presented by ages:
In RMB
||||||
|-|-|-|-|-|
||Closing balance||Opening balance||
|Age|||||
||Amount|Proportion|Amount|Proportion|
|within 1 yr|1,341,140,984.62|92.49%|1,127,829,597.09|91.23%|
|1-2 years|61,263,910.04|4.22%|49,267,318.09|3.99%|
|2-3 years|40,051,507.57|2.76%|47,476,893.75|3.84%|
|Over 3 yrs|7,647,915.75|0.53%|11,740,195.80|0.94%|
|Total|1,450,104,317.98|--|1,236,314,004.73|--|

Remarks on the unsettled prepayment due over 1 year:
Mainly prepayment for goods not mature yet according to the agreement.
(2) Top 5 prepayment categorized upon objects
|||
|-|-|
|Objects|Closing balance|
|Benxi Beiying Steel & Iron (Group) Co.,Ltd.|373,358,505.00|
|Bengang Group International Trading Ltd.|83,135,289.41|
|Tianjin 20th Metallurgy Construction Co.,Ltd.|54,760,432.97|
|Liaoning Hengtai Heavy Machine Co.,|54,080,819.79|

Bengang Steel Plates Co., Ltd. Interim Report 2015 Full Text
|||
|-|-|
|Ltd.||
|Zhongye Shanya Heavy Industry|52,696,022.00|
|Total|618,031,069.17|

Remarks:
None
7. Interest receivable
(1) Categorized on interests receivable
In RMB
||||
|-|-|-|
|Items|Closing balance|Opening balance|
|Fixed deposit||7,011,095.89|
|Total||7,011,095.89|

 (2) Material overdue interests
||||||
|-|-|-|-|-|
|||||Impairment and basis of|
|Loans from|Closing balance|Date of mature|Causation of overdue||
|||||recognition|

 Remarks:
None
8. Dividend receivable
(1) Dividend receivable
In RMB
||||
|-|-|-|
|Project (or investee)|Closing balance|Opening balance|

(2) Material dividend receivable overdue for over 1 year
In RMB
||||||
|-|-|-|-|-|
|||||Impairment and basis of|
|Project (or investee)|Closing balance|Age|Cause for not retrieved||
|||||recognition|

 Remarks:
Bengang Steel Plates Co., Ltd. Interim Report 2015 Full Text 9. Other account receivable.
(1) Other receivables disclosed by category
In RMB
||||||||||||
|-|-|-|-|-|-|-|-|-|-|-|
||Closing balance|||||Opening balance|||||
||Book balance||Bad debt provision|||Book balance||Bad debt provision|||
|Categories|||||Book||||||
|||Proportio|||||Proportio|||Book value|
||Amount||Amount|Rate|value|Amount||Amount|Rate||
|||n|||||n||||
|Accounts receivable|||||||||||
||286,758,||60,199,0||226,559,6|318,333||62,365,43||255,968,09|
|tested for impairment||99.40%||20.99%|||99.46%||19.59%||
||750.46||77.28||73.18|,531.48||3.45||8.03|
|by portfolio|||||||||||
|Other insignificant|||||||||||
|items but tested for|1,740,00||||1,740,000|1,740,0||||1,740,000.0|
|||0.60%|||||0.54%||||
|impairment|0.00||||.00|00.00||||0|
|individually|||||||||||
||288,498,||60,199,0||228,299,673.18|320,073||62,365,43||257,708,098.03|
|Total||100.00%||20.87%|||100.00%||19.48%||
||750.46||77.28|||,531.48||3.45|||

 Other receivable accounts with large amount and were provided bad debt provisions individually at end of period.
[] Applicable;[V] Not applicable
Other account receivables on which bad debt provisions are provided on age basis in the group:
[V] applicable
In RMB
|||||
|-|-|-|-|
||Closing balance|||
|Age||||
||Other account receivable|Bad debt provision|Rate|
|Segments within 1 year||||
|Within 1 yr, (included)|216,100,966.65|||
|Subtotal of within 1 year|216,100,966.65|||
|1-2 years|8,810,213.59|440,510.68|5.00%|
|2-3 years|4,786,254.52|957,250.90|20.00%|
|Over 3 yrs|58,801,315.70|58,801,315.70|100.00%|
|Total|288,498,750.46|60,199,077.28|20.87%|

 Remarks on categories of receivable account
1. Providing of bad debt provision on single receivable account with major amount
Standard for recognition of major amount single account:
Balance of account receivable RMB10 million; other account receivable RMB5 million or over.
Providing method of bad debt provisions on single receivable account with major amount
Bengang Steel Plates Co., Ltd. Interim Report 2015 Full Text The impairment test should be assessed individually for each individually significant receivable. If the there is evidence indicating the receivables have been impaired, the difference between the present value of the future cash flows and the book value of receivables shall be recognized as bad debt provision and shall be recorded into the profits and losses at the current period.
2、 Other receivables tested by portfolio:
Basis of recognition for portfolios
The portfolio: Receivable account with minor amount and tested individually and not
impaired
Basis of bad debt provision
The portfolio: Age analysis method
Accounts on age basis in the portfolio:
|||
|-|-|
|Age|Rate for receivables (%)|
|Within 1 yr, (included)||
|1-2 years (inclusive)|5|
|2-3 years (inclusive)|20|
|Over 3 yrs|100|

3、 Receivable accounts with minor amount but bad debt provision provided individually upon
(1) Reason of providing bad debt individually: concrete evidence showing that the account is irretrievable (2) Basis of providing bad debt provisions:
When there is solid evidence showing that the possibility of retrieving is minor, the account shall be tested for impairment individually and bad debt provision shall be provided at the estimated unrecoverable amount.
Other receivable accounts in the portfolio on which bad debt provisions were provided on percentage basis
[] Applicable;[V] Not applicable
Other receivable accounts in the portfolio on which bad debt provisions were provided on other basis
[] Applicable;[V] Not applicable
(2) Receivable accounts written back or retrieved in the report period
Bad debt provision provided this period was RMB0.00.
Bad debt provision written back was RMB2,166,356.17 in the period.
Significant items of retrieving or writing back of bad debt provisions:
In RMB
||||
|-|-|-|
|Name of the companies|Amount written back or retrieved|way of retrieving|

None
Bengang Steel Plates Co., Ltd. Interim Report 2015 Full Text (3) Writing off of other receivable accounts in the period
In RMB
|||
|-|-|
|Items|Amount written off|

Writing off of material other receivable accounts in the period
In RMB
|||||||
|-|-|-|-|-|-|
|Name of the|||Reason of writing|Written off|Created by related|
||Property of account|Amount written off||||
|companies|||off|procedures|transaction or not|

 Statements on writing off of other receivable accounts.
(4) Other receivables disclosed by nature
In RMB
||||
|-|-|-|
|Account property|Closing balance of book value|Opening balance of book value|
|Accounts|195,845,537.34|121,294,479.69|
|Export tax rebate|42,558,816.25|130,825,472.18|
|Margin and deposit|4,360,260.96|4,598,002.52|
|Others|8,691,118.70|6,609,889.80|
|Input tax to be deducted|37,043,017.21|56,745,687.29|
|Total|288,498,750.46|320,073,531.48|

 (5) Top five debtors at the year-end
In RMB
|||||||
|-|-|-|-|-|-|
|Name of the||||Percentage of total|Provision for bad|
||Nature of account|Closing balance|Age|||
|companies||||other receivables|debts|
|Tax bureau|Export tax refund|42,558,816.25|within 1 yr|14.75%||
||Unrecognized input|||||
|Tax bureau||37,043,017.21|within 1 yr|12.84%||
||tax|||||
|Shenyang Coke Coal||||||
||Current account|15,000,000.00|within 1 yr|5.20%||
|Co., Ltd. Sales Co.||||||
|Liaoning Shenjiao||||||
|International Trade|Current account|10,000,000.00|within 1 yr|3.47%||
|Co., Ltd.||||||
|Nanjing Dongda||||||
|Energy Engineering|Current account|10,000,000.00|within 1 yr|3.47%||
|Institute||||||
|Total|--|114,601,833.46|--|39.72%||

Bengang Steel Plates Co., Ltd. Interim Report 2015 Full Text (6) Receivable accounts involving the government
In RMB
||||||
|-|-|-|-|-|
|||||Predicted time and|
|Name of the companies|Title of the projects|Closing balance|Age at end of period||
|||||amount of receiving|

 None
(7) Other receivable terminated for recognition due to transferring of financial asset
None
(8) Amounts of asset or liability formed by continuous involving
None
Remarks:
None
10. Inventories
(1) Categories of inventory
In RMB
||||||||
|-|-|-|-|-|-|-|
||Closing balance|||Opening balance|||
|Items||Impairment|||Impairment||
||Book balance||Book value|Book balance||Book value|
|||provision|||provision||
|Raw materials|6,175,775,608.68|4,894,918.76|6,170,880,689.92|6,399,017,393.13|4,894,918.76|6,394,122,474.37|
|Product in|||||||
||1,356,732,821.07|55,997,892.65|1,300,734,928.42|1,194,892,927.05|44,360,110.69|1,150,532,816.36|
|process|||||||
|Products in stock|4,373,781,128.30|91,952,319.78|4,281,828,808.52|3,510,656,117.98|46,897,590.79|3,463,758,527.19|
||11,906,289,558.0||11,753,444,426.86|11,104,566,438.1||11,008,413,817.92|
|Total||152,845,131.19|||96,152,620.24||
||5|||6|||

 (2) Inventory impairment provision
In RMB
||||||||
|-|-|-|-|-|-|-|
|||Increased current period||Decreased current period|||
|Items|Opening balance|||Written back or||Closing balance|
|||Provided|Others||Others||
|||||off|||
|Raw materials|4,894,918.76|||||4,894,918.76|
|Product in|44,360,110.69|||||55,997,892.65|
|||11,637,781.96|||||
|process|||||||

Bengang Steel Plates Co., Ltd. Interim Report 2015 Full Text
|||||
|-|-|-|-|
|Products in stock|46,897,590.79|45,054,728.99|91,952,319.78|
|Total|96,152,620.24|56,692,510.95|152,845,131.19|

 None
(3) Statement on part of the inventory balance which was the capitalized borrowing expenses
None
(4) Particulars about assets completed but not settled at end of period
In RMB
|||
|-|-|
|Items|Amount|

Remarks:
None
11. Asset categorized as hold-for-sale asset
In RMB
||||||
|-|-|-|-|-|
||||Predicted disposal||
|Items|Closing book value|fair value||Predicted disposal date|
||||expense||

Remarks:
None
12. Non-current asset due in 1 year
In RMB
||||
|-|-|-|
|Items|Closing balance|Opening balance|

Remarks:
13. Other current assets
In RMB
||||
|-|-|-|
|Items|Closing balance|Opening balance|
|Prepaid income tax|224,568,989.98|226,679,352.76|
|VAT and input tax to be deducted|282,065,802.58|230,825,156.67|
|Short-term bank financial products|197,000,000.00||
|Total|703,634,792.56|457,504,509.43|

Remarks:
None
Bengang Steel Plates Co., Ltd. Interim Report 2015 Full Text 14. Disposable financial asset
(1) Sellable financial assets
In RMB
||||||||
|-|-|-|-|-|-|-|
||Closing balance|||Opening balance|||
|Items||Impairment|||Impairment||
||Book balance||Book value|Book balance||Book value|
|||provision|||provision||
|Sellable equity|||||||
||20,271,278.63||20,271,278.63|20,271,278.63||20,271,278.63|
|instruments:|||||||
|On cost basis|20,271,278.63||20,271,278.63|20,271,278.63||20,271,278.63|
|Total|20,271,278.63||20,271,278.63|20,271,278.63||20,271,278.63|

 (2) Sellable financial assets on fair value at end of period
In RMB
|||||
|-|-|-|-|
|Categories of sellable|Available-for-sale equity|Debit instruments||
||||Total|
|financial assets|instruments|sellable||

(3) Sellable financial assets on cost at end of period
In RMB
||||||||||||
|-|-|-|-|-|-|-|-|-|-|-|
||Book balance||||Impairment provision|||||Cash|
||||||||||Percentage|dividend|
|Company|At||||At||||||
|||Increased|Decreased|At end of||Increased|Decreased|At end of|of share in|of the|
|invested in|beginning||||beginning||||||
|||this period|this period|term||this period|this period|term|the firm %|current|
||of term||||of term||||||
|||||||||||term|
|Zhejiang|||||||||||
|Bengang|||||||||||
|Jingrui|1,967,605.|||1,967,605.|||||||
||||||||||20.00%||
|Steel|63|||63|||||||
|Processing|||||||||||
|Ltd.|||||||||||
|Suzhou|||||||||||
|Bengang|3,888,980.|||3,888,980.|||||||
||||||||||20.00%||
|Industrial|00|||00|||||||
|Co., Ltd.|||||||||||
|China|||||||||||
|Steel|14,414,693|||14,414,693|||||||
||||||||||15.00%||
|Shanghai|.00|||.00|||||||
|Steel|||||||||||

Bengang Steel Plates Co., Ltd. Interim Report 2015 Full Text
|||||
|-|-|-|-|
|Processing||||
|Co., Ltd.||||
||20,271,278|20,271,278||
|Total|||--|
||.63|.63||

(4) Change of impairment of sellable financial assets in the report period
In RMB
|||||
|-|-|-|-|
|Categories of sellable|Available-for-sale equity|Debit instruments||
||||Total|
|financial assets|instruments|sellable||

(5) Statement on sellable equity instruments with fair value decreased significantly or temporarily decreased but no impairment provision provided
In RMB
||||||||
|-|-|-|-|-|-|-|
|||||||Reason of no|
|||||Months of|Amount of||
|Sellable equity||Fair value at end|Decrease of fair|||impairment|
||Investment cost|||continuous|impairment||
|instruments||of term|value from costs|||provision|
|||||decline|provision||
|||||||provided|

 Other statements
None
15. Investment held to mature
(1) Investment held to mature
In RMB
||||||||
|-|-|-|-|-|-|-|
||Closing balance|||Opening balance|||
|Items||Impairment|||Impairment||
||Book balance||Book value|Book balance||Book value|
|||provision|||provision||

(2) Material investment held to mature
In RMB
||||||
|-|-|-|-|-|
|Bond items|Face value|Face interest ratio|Actual interest rate|Expired on|

 (3) Investment held to mature relocated in the period
Other statements
Bengang Steel Plates Co., Ltd. Interim Report 2015 Full Text 16. Long-term receivables
(1) Long-term receivables
In RMB
|||||||||
|-|-|-|-|-|-|-|-|
||Closing balance|||Opening balance||||
|Items||Bad debt|||Bad debt||折现率区间|
||Book balance||Book value|Book balance||Book value||
|||provision|||provision|||

(2) Long-term receivables unrecognized for transferring of financial assets
(3) Amount of asset or liability formed by transferring of long-term receivables but keep continuous involving
Other statements
17. Long-term equity investment
In RMB
|||||||||||||
|-|-|-|-|-|-|-|-|-|-|-|-|
|||Changed this periodDividend orReducing Investment Adjustment Other profitExtra Impairmentof gains on of other equity announced Othersinvestment provisioninvestment equity basis gains change to bedelivered||||||||||
||||||||Dividend or||||Balance of|
|Company||||||||||||
||Opening||Reducing|Investment|Adjustment|Other|profit|||Closing|provision|
|invested||Extrainvestment||||||Impairment||||
||balance||of|gains on|of other|equity|announced||Others|balance|at end of|
|in||||||||provision||||
||||investment|equity basis|gains|change|to be||||period|
||||||||delivered|||||
|I. Joint ventures||||||||||||
|II. Affiliates||||||||||||

Other statements
18. Fixed assets
(1) Particulars of fixed assets
In RMB
||||||
|-|-|-|-|-|
||Houses &|Equipment &|Transportation||
|Items||||Total|
||buildings|machinery|equipment||
|I. Original book value:|||||
|1. Opening balance|10,224,039,014.58|33,098,746,490.42|773,132,017.21|44,095,917,522.21|
|2. Increased this period|52,657,102.58|760,835,550.63||813,492,653.21|
|(1) Purchase||8,665,299.14||8,665,299.14|
|(2) Transferred in from construction in|||||
||52,657,102.58|752,170,251.49||804,827,354.07|
|process|||||
|(3) Increased by merger|||||
|3. Decreased this period|8,196,387.51|259,672,329.44|8,064,271.52|275,932,988.47|
|(1) Disposed|8,196,387.51|259,672,329.44|8,064,271.52|275,932,988.47|

Bengang Steel Plates Co., Ltd. Interim Report 2015 Full Text
||||||
|-|-|-|-|-|
|4. Closing balance|10,268,499,729.65|33,599,909,711.61|765,067,745.69|44,633,477,186.95|
|II. Accumulative depreciation|||||
|1. Opening balance|4,216,854,550.82|22,179,825,053.53|544,196,523.37|26,940,876,127.72|
|2. Increased this period|228,146,110.13|680,587,626.73|4,786,803.61|913,520,540.47|
|(1) Provision|228,146,110.13|680,587,626.73|4,786,803.61|913,520,540.47|
|3. Decreased this period|6,222,002.26|239,809,006.99|8,042,419.86|254,073,429.11|
|(1) Disposed|6,222,002.26|239,809,006.99|8,042,419.86|254,073,429.11|
|4. Closing balance|4,438,778,658.69|22,620,603,673.27|540,940,907.12|27,600,323,239.08|
|III. Impairment provision|||||
|1. Opening balance|8,208,087.85|2,551,052.65||10,759,140.50|
|2. Increased this period|||||
|(1) Provision|||||
|3. Decreased this period|||||
|(1) Disposed|||||
|4. Closing balance|8,208,087.85|2,551,052.65||10,759,140.50|
|IV. Book value|||||
|1. Book value at end of period|5,821,512,983.11|10,976,754,985.69|224,126,838.57|17,022,394,807.37|
|2. Book value at beginning of period|5,998,976,375.91|10,916,370,384.24|228,935,493.84|17,144,282,253.99|

 (2) Fixed assets temporarily in idle status
In RMB
|||||||
|-|-|-|-|-|-|
||Original book value|Accumulated|Impairmentprovision|||
|Items||||Book value|Note|
|||depreciation:||||

(3) Fixed asset by financial leasing
In RMB
||||||
|-|-|-|-|-|
|||Accumulated|||
|Items|Original book value||Impairment provision|Book value|
|||depreciation:|||

(4) Fixed assets leased out on finance
In RMB
|||
|-|-|
|Items|Closing book value|
|Houses & buildings|61,193,223.19|
|Equipment & machinery|206,729.75|
|Transportation equipment|521,313.87|
|Total|61,921,266.81|

 (5) Fixed assets not granted certificate of property
In RMB
||||
|-|-|-|
|Items|Book value|Reason for certificate not granted|

Bengang Steel Plates Co., Ltd. Interim Report 2015 Full Text
||||
|-|-|-|
|Houses & buildings|489,571,568.10|Filed by batches|

Other statements
None
19. Construction-in-process
(1) Particulars of construction-in-process
In RMB
||||||||
|-|-|-|-|-|-|-|
||Closing balance|||Opening balance|||
|Items||Impairment|||Impairment||
||Book balance||Book value|Book balance||Book value|
|||provision|||provision||
|Information system project|190,119,871.68||190,119,871.68|183,662,781.72||183,662,781.72|
|Environmental reconstruction|||||||
|of converter and the 180t|143,034,986.51||143,034,986.51|581,647,629.27||581,647,629.27|
|dephosphorization converter|||||||
|Silicon steel project|8,837,606.85||8,837,606.85||||
|Production line of|||||||
|electro-galvanized steel plates|1,179,970,803.32||1,179,970,803.32|1,090,509,377.96||1,090,509,377.96|
|for automobile|||||||
|Reconstruction of hot-rolling|||||||
||2,815,733.33||2,815,733.33|279,613,089.64||279,613,089.64|
|equipment|||||||
|Cool rolling high strength steel|||||||
||2,476,509,668.24||2,476,509,668.24|1,925,107,936.24||1,925,107,936.24|
|rebuilding|||||||
|hot galvanizing project of No.3|||||||
||150,890,968.35||150,890,968.35||||
|hot rolling factory|||||||
|The new energy control center|||||||
||231,068,522.94||231,068,522.94|218,595,249.81||218,595,249.81|
|project|||||||
|Reconstruction project of coke|||||||
|dry cooling of No.2 Coke|1,199,916,150.47||1,199,916,150.47|1,163,586,592.69||1,163,586,592.69|
|Workshop|||||||
|360 M2 sintering machine|754,829,652.44||754,829,652.44|466,556,730.02||466,556,730.02|
|Softening water supplying|||||||
|||||62,631,414.86||62,631,414.86|
|project|||||||
|Reconstruction of South Gate|||||||
||53,470,299.19||53,470,299.19|41,847,818.94||41,847,818.94|
|of Transportation Dept.|||||||
|Other small projects|240,745,068.44||240,745,068.44|51,757,711.98||51,757,711.98|
|Environmental reengineering|32,032,026.31||32,032,026.31|10,635,991.17||10,635,991.17|
|Upgrading of surface detector|||||||
||50,023,398.37||50,023,398.37|50,023,398.37||50,023,398.37|
|of Bengang Puxiang|||||||
|Bengang Coke Factory dry|||||||
||19,966,959.08||19,966,959.08||||
|cooling equipment upgrading|||||||
|Reconstruction of post|||||||
|processing line of Cool Rolling|49,869,058.13||49,869,058.13||||
|Factory|||||||
|Reconstruction of No.1 furnace|32,237,843.02||32,237,843.02||||
|Upgrading of controlling|||||||
|system of 1700 primary rolling|||||||
||34,700,581.28||34,700,581.28||||
|machine of Continuous Rolling|||||||
|Factory|||||||
|Equipment upgrading of Iron|||||||
||23,629,663.36||23,629,663.36||||
|Making Factory|||||||
|Furnace upgrading of Iron|||||||
||25,309,651.47||25,309,651.47||||
|Making Factory|||||||
|Total|6,899,978,512.78||6,899,978,512.78|6,126,175,722.67||6,126,175,722.67|

(2) Material change in construction-in-progress
In RMB
Bengang Steel Plates Co., Ltd. Interim Report 2015 Full Text
||||||||||||||
|-|-|-|-|-|-|-|-|-|-|-|-|-|
|||||Amount|||Ratio of||Accumulat|Including:|Capitalizat||
||||Increased||||||||||
|||Opening||transferred|Other|Closing|accumulati||e of|interest|ion ratio of|Fund|
|Projects|Budget||current|||||Progress|||||
|||balance||to fixed|deduction|balance|ve input on||interest|capitalized|current|recourse|
||||period||||||||||
|||||asset|||budget||capitalized|this term|period||
|Informatio|||||||||||||
||390,380,00|183,662,78|6,457,089.|||190,119,87|||30,102,720|5,099,288.|||
|n system|||||||85.00%|90|||5.60%||
||0.00|1.72|96|||1.68|||.35|21|||
|project|||||||||||||
|Environme|||||||||||||
|ntal|||||||||||||
|reconstruct|||||||||||||
|ion of|||||||||||||
|converter|1,778,644,|581,647,62|12,645,123|451,257,76||143,034,98|||117,658,44|12,394,204|||
||||||||84.00%|90|||5.60%||
|and the|000.00|9.27|.12|5.88||6.51|||1.88|.47|||
|180t|||||||||||||
|dephospho|||||||||||||
|rization|||||||||||||
|converter|||||||||||||
|Production|||||||||||||
|line of|||||||||||||
|electro-gal|||||||||||||
||1,224,700,|1,090,509,|89,461,425|||1,179,970,|||161,145,56|18,281,621|||
|vanized|||||||96.00%|95|||5.63%||
||000.00|377.96|.36|||803.32|||3.06|.45|||
|steel plates|||||||||||||
|for|||||||||||||
|automobile|||||||||||||
|Cool|||||||||||||
|rolling|||||||||||||
|high|6,100,000,|1,925,107,|551,401,73|||2,476,509,|||168,819,71|78,375,421|||
||||||||41.00%|50|||5.63%||
|strength|000.00|936.24|2.00|||668.24|||4.80|.60|||
|steel|||||||||||||
|rebuilding|||||||||||||
|hot|||||||||||||
|galvanizin|||||||||||||
|g project|869,180,00||150,890,96|||150,890,96|||||||
||||||||17.00%|20|||||
|of No.3|0.00||8.35|||8.35|||||||
|hot rolling|||||||||||||
|factory|||||||||||||
|The new|||||||||||||
|energy|||||||||||||
||284,100,00|218,595,24|12,473,273|||231,068,52|||30,173,931|5,907,914.|||
|control|||||||87.00%|90|||5.60%||
||0.00|9.81|.13|||2.94|||.37|92|||
|center|||||||||||||
|project|||||||||||||
|Reconstruc|||||||||||||
|tion|||||||||||||
|project of|||||||||||||
||1,354,132,|1,163,586,|36,329,557|||1,199,916,|||86,313,352|25,427,149|||
|coke dry|||||||89.00%|90|||5.60%||
||000.00|592.69|.78|||150.47|||.67|.68|||
|cooling of|||||||||||||
|No.2 Coke|||||||||||||
|Workshop|||||||||||||
|360 M2|||||||||||||
||1,111,787,|466,556,73|288,272,92|||754,829,65|||21,718,057|11,255,556|||
|sintering|||||||68.00%|70|||5.60%||
||000.00|0.02|2.42|||2.44|||.75|.03|||
|machine|||||||||||||
|Silicon|||||||||||||
||934,450,00||8,837,606.|||8,837,606.|||16,197,745||||
|steel|||||||79.00%|95|||||
||0.00||85|||85|||.48||||
|project|||||||||||||
|Reconstruc|||||||||||||
|tion of|260,200,00|279,613,08|2,815,733.|279,613,08||2,815,733.|||||||
||||||||109.00%|90|||||
|hot-rolling|0.00|9.64|33|9.64||33|||||||
|equipment|||||||||||||
|Softening|||||||||||||
|water|75,540,000|62,631,414|3,259,480.|65,890,895|||||2,918,150.||||
||||||||87.00%|100|||||
|supplying|.00|.86|98|.84|||||76||||
|project|||||||||||||
|Reconstruc|||||||||||||
|tion of|||||||||||||
|South Gate|55,980,000|41,847,818|11,622,480|||53,470,299|||2,113,252.||||
||||||||96.00%|95||662,362.07|5.60%||
|of|.00|.94|.25|||.19|||67||||
|Transporta|||||||||||||
|tion Dept.|||||||||||||
||14,439,093|6,013,758,|1,174,467,|796,761,75||6,391,464,|||637,160,93|157,403,51|||
|Total|||||||--|--||||--|
||,000.00|621.15|393.53|1.36||263.32|||0.79|8.43|||

(3) Impairment provision provided on construction in process
In RMB
||||
|-|-|-|
|Items|Provided this period|Reason to provide|

Bengang Steel Plates Co., Ltd. Interim Report 2015 Full Text Other statements
None
20. Project material
In RMB
||||
|-|-|-|
|Items|Closing balance|Opening balance|
|Special equipment|4,677,471.15|90,221,101.46|
|Total|4,677,471.15|90,221,101.46|

 Remarks:
Balance of project goods decreased by RMB85,543,630.31(94.82%) from the opening balance, which was caused by increasing of delivery of equipment purchased for reconstruction project of high strength steel production.
21. Liquidation of fixed assets
In RMB
||||
|-|-|-|
|Items|Closing balance|Opening balance|

Remarks:
None
22.
Intangible assets
(1) Profiles of intangible assets
In RMB
|||||||
|-|-|-|-|-|-|
|Items|Land using right|Patent|Non-patent technologies|Computer software|Total|
|I. Original book value||||||
|1. Opening balance|296,245,314.76|||141,509.43|296,386,824.19|
|2. Increased this period||||||
|(1) Purchase||||||
|(2) Internal R&D||||||
|(3) Increased by merger||||||
|3. Decreased this period||||||
|(1) Disposal||||||
|4. Closing balance|296,245,314.76|||141,509.43|296,386,824.19|
|II. Accumulative amortizing||||||
|1. Opening balance|24,913,882.78|||12,971.66|24,926,854.44|
|2. Increased this period|2,963,042.76|||6,485.83|2,969,528.59|
|(1) Provision|2,963,042.76|||6,485.83|2,969,528.59|
|3. Decreased this period||||||
|(1) Disposal||||||
|4. Closing balance|27,876,925.54|||19,457.49|27,896,383.03|
|III. Impairment provision||||||
|1. Opening balance||||||

Bengang Steel Plates Co., Ltd. Interim Report 2015 Full Text
|||||
|-|-|-|-|
|2. Increased this period||||
|(1) Provision||||
|3. Decreased this period||||
|(1) Disposal||||
|4. Closing balance||||
|IV. Book value||||
|1. Book value at end of period|268,368,389.22|122,051.94|268,490,441.16|
|2. Book value at beginning of period|271,331,431.98|128,537.77|271,459,969.75|

 Thereisn‟t any intangible asset constituted by internalR&D in the period.
(2) Property certificate not granted yet:
In RMB
||||
|-|-|-|
|Items|Book value|Reason for certificate not granted|

 Remarks:
None
23. Development expenses
In RMB
||||||
|-|-|-|-|-|
||Opening|||Closing|
|Items||Increased current period|Decreased current period||
||balance|||balance|

 Other statements
24. Goodwill
(1) Original book value of goodwill
In RMB
||||||
|-|-|-|-|-|
|Name of the|||||
|companies or|Opening balance|Increased this period|Decreased this period|Closing balance|
|goodwill item|||||

(2) Impairment provision on goodwill
In RMB
||||||
|-|-|-|-|-|
|Name of the|||||
|companies or|Opening balance|Increased this period|Decreased this period|Closing balance|
|goodwill item|||||

Statement of the testing process, indices, and recognition of impairment provision on goodwill:
Other statements
Bengang Steel Plates Co., Ltd. Interim Report 2015 Full Text 25. Long-term expenses to be amortized
In RMB
|||||||
|-|-|-|-|-|-|
|||Increased current|Amortized this|Other decreased||
|Items|Opening balance||||Closing balance|
|||period|period|amount||

Other statements
None
26. Deferred income tax assets/ deferred income tax liabilities
(1) Deferred income tax asset not deducted
In RMB
||||||
|-|-|-|-|-|
||Closing balance||Opening balance||
|Items|Deductible provisional|Deferred income tax|Deductible provisional|Deferred income tax|
||differences|asset|differences|asset|
|Asset impairment|||||
||362,352,105.52|90,588,026.38|311,856,259.50|77,964,064.88|
|provision|||||
|Internal trade profit not|||||
||333,978,859.03|83,494,714.76|333,978,859.03|83,494,714.76|
|realized|||||
|Welfare for retired|||||
||5,963,787.24|1,490,946.81|8,513,359.96|2,128,339.99|
|employee|||||
|Employee wages payable|47,262,733.73|11,815,683.43|13,889,056.69|3,472,264.17|
|Internal profit unrealized|44,414,436.52|11,103,609.13|57,740,326.46|14,435,081.62|
|Total|793,971,922.04|198,492,980.51|725,977,861.64|181,494,465.42|

 (2) Deferred income tax liabilities not deducted
In RMB
||||||
|-|-|-|-|-|
||Closing balance||Opening balance||
|Items|Taxable provisional|Deferred income tax|Taxable provisional|Deferred income tax|
||difference|liability|difference|liability|

 (3) Deferred income tax asset or liability at net amount after deduction
In RMB
||||||
|-|-|-|-|-|
||Amount neutralized|Closing balance of|Amount neutralized|Opening balance of|
||between deferred income|deferred income tax asset|between deferred income|deferred income tax asset|
|Items|||||
||tax asset and liability at|or liability after|tax asset and liabilities at|or liability after|
||end of period|deduction|opening of period|deduction|

Bengang Steel Plates Co., Ltd. Interim Report 2015 Full Text
||||
|-|-|-|
|Deferred income tax|198,492,980.51|181,494,465.42|
|asset|||

(4) Details of unrecognized deferred income tax asset
In RMB
||||
|-|-|-|
|Items|Closing balance|Opening balance|
|Neutralizable losses|446,430,077.99|476,157,419.26|
|Total|446,430,077.99|476,157,419.26|

 (5) Deductible losses of unrecognized deferred income tax asset due in next period
In RMB
|||||
|-|-|-|-|
|Year|Amount at end of term|Initial amount|Note|
|2014||||
|2015||||
|2016||796,317.70||
|2017|376,252,065.90|405,183,089.47||
|2018|70,178,012.09|70,178,012.09||
|2019||||
|Total|446,430,077.99|476,157,419.26|--|

Remarks:
None
27. Other non-current assets
In RMB
||||
|-|-|-|
|Items|Closing balance|Opening balance|

Remarks:
28. Short-term loans
(1) Categories of short-term loans
In RMB
||||
|-|-|-|
|Items|Closing balance|Opening balance|
|Guarantee loan|9,966,326,352.65|10,609,754,000.00|
|Credit loan|5,193,567,325.05|7,578,191,675.93|
|Total|15,159,893,677.70|18,187,945,675.93|

Bengang Steel Plates Co., Ltd. Interim Report 2015 Full Text Statement on categories of short-term loans.
None
(2) Short-term loans expired but not repaid
Short-term loans expired but not repaid was RMB0.00 at end of period, including material amounts as following:
In RMB
||||||
|-|-|-|-|-|
|Loans from|Closing balance|Interest rate|Date of mature|Overdue interest|

 Remarks:
None
29. Financial liabilities on fair value with changes accounted into current income account
In RMB
||||
|-|-|-|
|Items|Closing balance|Opening balance|

Remarks:
30. Derivate financial liabilities
[] Applicable;[V] Not applicable
31. Notes payable
In RMB
||||
|-|-|-|
|Categories|Closing balance|Opening balance|
|Bank acceptance|974,828,982.41|822,581,591.46|
|Total|974,828,982.41|822,581,591.46|

 Notes payable mature as of end of period was RMB0.00.
32. Account payable
(1) Payables
In RMB
||||
|-|-|-|
|Items|Closing balance|Opening balance|
|Trade payable|5,666,958,348.69|7,845,961,373.04|
|Labour service|12,840,218.65|24,340,661.56|
|Project and equipment accounts payable|398,184,000.93|501,029,342.01|
|Maintaining|373,752,563.77|407,080,221.51|
|Others|3,155,523.18|2,537,206.06|

Bengang Steel Plates Co., Ltd. Interim Report 2015 Full Text
||||
|-|-|-|
|Total|6,454,890,655.22|8,780,948,804.18|

 (2) Material payable aged over 1 year
In RMB
||||
|-|-|-|
|Items|Closing balance|Reason of not paid or transferred|
|Jixi Huasheng Fengyuan Coal Selection|||
||71,275,916.07|Not cleared yet|
|Co., Ltd.|||
|Zhongye Saidi Engineering Co., Ltd.|26,051,107.11|Not cleared yet|
|Hangzhou Tianshen Materials Co., Ltd.|21,330,633.40|Not cleared yet|
|Zhongye Jingcheng Engineering &|||
||15,062,985.68|Not cleared yet|
|Technologies Ltd.|||
|Benxi Steel New Business Development|||
||10,083,078.60|Not cleared yet|
|Co., Ltd.|||
|Qitaihe Tenglong Coal Trade Co., Ltd.|8,365,395.33|Not cleared yet|
|Total|152,169,116.19|--|

Remarks:
Closing balance of payable accounts includes RMB400,000,000.00 of account payable to Benxi Steel& Iron Group Mining Co., Ltd. for Letter of Credit not mature.
33. Account received in advance
(1) Advances received
In RMB
||||
|-|-|-|
|Items|Closing balance|Opening balance|
|Trade collected in advance|3,162,322,037.70|3,144,418,091.52|
|Total|3,162,322,037.70|3,144,418,091.52|

 (2) Material advances received for over 1 year
In RMB
||||
|-|-|-|
|Items|Closing balance|未偿还或结转的原因|

(3) Projects settled but not completed under construction contracts
In RMB
|||
|-|-|
|Items|Amount|

Remarks:
Bengang Steel Plates Co., Ltd. Interim Report 2015 Full Text None
34. Wage payable
(1) Wage payable
In RMB
||||||
|-|-|-|-|-|
|Items|Opening balance|Increased this period|Decreased this period|Closing balance|
|I. Short-term wages|26,870,591.59|815,435,619.26|789,937,358.29|52,368,852.56|
|II. Post-job welfare –|||||
|||135,898,826.37|135,898,826.37||
|provision plan|||||
|III. Dismissing|||||
||8,513,359.96||2,549,572.72|5,963,787.24|
|compensation|||||
|Total|35,383,951.55|951,334,445.63|928,385,757.38|58,332,639.80|

 (2) Short-term wages
In RMB
||||||
|-|-|-|-|-|
|Items|Opening balance|Increased this period|Decreased this period|Closing balance|
|(1) Salary, bonus,|||||
||16,980,558.52|656,702,672.10|630,982,657.83|42,700,572.79|
|allowance and subsidy|||||
|(2) Employee welfare||13,769,989.18|13,769,989.18||
|(3) Social Insurance|666,677.44|60,737,764.21|60,739,150.42|665,291.23|
|Including: Medical|||||
|||45,370,323.60|45,370,323.60||
|insurance|||||
|Work injury|||||
||666,677.44|15,365,249.48|15,366,635.69|665,291.23|
|insurance|||||
|Maternity|||||
|||2,191.13|2,191.13||
|insurance|||||
|(4) Housing|6,853,473.00|61,287,207.20|61,291,847.20|6,848,833.00|
|(5) Union funds and staff|||||
||2,367,273.37|22,522,872.57|22,738,210.41|2,151,935.53|
|education fee|||||
|Others|2,609.26|415,114.00|415,503.25|2,220.01|
|Total|26,870,591.59|815,435,619.26|789,937,358.29|52,368,852.56|

 (3) Defined contribution plans
In RMB
||||||
|-|-|-|-|-|
|Items|Opening balance|Increased this period|Decreased this period|Closing balance|
|||129,565,769.57|129,565,769.57||
|Basic pension fund|||||
|Unemployment insurance||6,333,056.80|6,333,056.80||

Bengang Steel Plates Co., Ltd. Interim Report 2015 Full Text
||||
|-|-|-|
|Total|135,898,826.37|135,898,826.37|

Remarks:
None
35. Tax payable
In RMB
||||
|-|-|-|
|Items|Closing balance|Opening balance|
|VAT|5,408,115.42|9,556,213.59|
|Operational tax|1,240.00|246,231.69|
|Enterprise income tax|10,430,638.62|12,951,594.58|
|City maintenance and construction tax|673,872.15|302,020.62|
|Property tax|1,576,161.92|7,953,883.39|
|Education surtax|294,125.98|246,528.48|
|Others|990,916.72|1,066,709.41|
|Total|19,375,070.81|32,323,181.76|

 Remarks:
36. Interest payable
In RMB
||||
|-|-|-|
|Items|Closing balance|Opening balance|
|Long-term loan interest with installments||5,080,000.00|
|Short-term borrowing interests payable|3,452,945.79|21,855,067.99|
|Interest of corporation bond|32,312,500.00||
|Total|35,765,445.79|26,935,067.99|

 Material overdue interest payments:
In RMB
||||
|-|-|-|
|Loans from|Amount overdue|Causation of overdue|

Remarks:
None
37. Dividend payable
In RMB
||||
|-|-|-|
|Items|Closing balance|Opening balance|
|Common share dividend|156,800,000.00||

Bengang Steel Plates Co., Ltd. Interim Report 2015 Full Text
|||
|-|-|
|Total|156,800,000.00|

Causations must be addressed in case there is any material dividend payable overdue for over 1 year.
None
38. Other account payable.
(1) Other payables disclosed by nature
In RMB
||||
|-|-|-|
|Items|Closing balance|Opening balance|
|Deposit|4,336,244.85|3,698,444.41|
|Deposit|117,927,677.78|121,211,291.67|
|Current account|233,393,924.44|295,686,710.10|
|Others|55,991,355.18|48,719,569.65|
|L/C|||
|Total|411,649,202.25|469,316,015.83|

 (2) Significant other payables ageing over one year
In RMB
||||
|-|-|-|
|Items|Closing balance|未偿还或结转的原因|
|Benxi Steel (Group) Ltd.|103,313,915.01|Not cleared yet|
|Guangzhou Benjin Electronic &|||
||13,088,825.00|Not cleared yet|
|Machinery Equipment Co., Ltd.|||
|Total|116,402,740.01|--|

Other statements
None
39. Liabilities categorized as hold-for-sale
In RMB
||||
|-|-|-|
|Items|Closing balance|Opening balance|

Remarks:
None
40. Non-current liabilities due in one year
In RMB
||||
|-|-|-|
|Items|Closing balance|Opening balance|

Bengang Steel Plates Co., Ltd. Interim Report 2015 Full Text
||||
|-|-|-|
|Long-term loans due in 1 year|1,026,860,000.00|591,740,000.00|
|Total|1,026,860,000.00|591,740,000.00|

 Remarks:
None
41. Other current liability
In RMB
||||
|-|-|-|
|Items|Closing balance|Opening balance|

Change of short-erm bond payable:
In RMB
||||||||||||
|-|-|-|-|-|-|-|-|-|-|-|
|||||||||Amortizin|||
|||||||Issued|Interest|g of|Repaid||
||Face|Date of|Bond|Issuing|Opening|||||Closing|
|Bond||||||this|drawn on|premium|this||
||value|issue|term|amount|balance|||||balance|
|||||||period|face value|or|period||
|||||||||discount|||

Remarks:
None
42. Long-term loans
(1) Categories of long-term loans
In RMB
||||
|-|-|-|
|Items|Closing balance|Opening balance|
|Guarantee loan|285,000,000.00|642,377,465.85|
|Credit loan|24,402,481.85|172,250,000.00|
|Total|309,402,481.85|814,627,465.85|

 Statement on categories of long-term loans:
None
Other statements, including interest scales:
None
43. Bond payable
(1) Bond payable
In RMB
||||
|-|-|-|
|Items|Closing balance|Opening balance|
|Bond payable|1,500,000,000.00||

Bengang Steel Plates Co., Ltd. Interim Report 2015 Full Text
|||
|-|-|
|Total|1,500,000,000.00|

(2) Change of bond payable (exclude other financial instruments such as preference shares or perpetual liabilities)
In RMB
||||||||||
|-|-|-|-|-|-|-|-|-|
|15 Bengang 01|100.00|Feb 5 2015|3 yrs|1,500,000,000.00|1,500,000,000.00|1,500,000,000.00|32,312,500.00|1,500,000,000.00|

 (3) Statement on conditions and date of corporation bond converting to shares
None
(4) Statement on other financial instruments categorized as financial liabilities
Particulars about other financial instruments issued externally such as preference shares or perpetual bonds.
None
Change of financial instruments issued externally such as preference shares or perpetual bonds
In RMB
||||||||||
|-|-|-|-|-|-|-|-|-|
|Financial|At beginning of term||Increased this period||Decreased this period||At end of term||
|instruments|||||||||
|issued|Amount|Book value|Amount|Book value|Amount|Book value|Amount|Book value|
|externally|||||||||

Statements on basis of categorizing of other financial instruments as financial liabilities.
None
Other statements
None
44. Long term payables
(1) Long-term payable by natures
In RMB
||||
|-|-|-|
|Items|Closing balance|Opening balance|

Remarks:
45. Long-term wage payable
(1) Long-term wage payable
In RMB
||||
|-|-|-|
|Items|Closing balance|Opening balance|

Bengang Steel Plates Co., Ltd. Interim Report 2015 Full Text (2) Change of defined beneficial plan
Current value of defined beneficial plan:
In RMB
||||
|-|-|-|
|Items|Occurred current term|Occurred in previous term|

 Planned asset:
In RMB
||||
|-|-|-|
|Items|Occurred current term|Occurred in previous term|

 Net liability (asset) of defined beneficial plan
In RMB
||||
|-|-|-|
|Items|Occurred current term|Occurred in previous term|

 Statement on content, risks, influence on future cash flow, time and uncertainty of the beneficial plan:
Statement on fine calculation and sensitivity of the beneficial plan:
Remarks:
46. Special payables
In RMB
|||||||
|-|-|-|-|-|-|
||||Decreased this|||
|Items|Opening balance|Increased this period||Closing balance|Cause|
||||period|||

Remarks:
47. Anticipated liabilities
In RMB
|||||
|-|-|-|-|
|Items|Closing balance|Opening balance|Cause|

Statement on material assumptions and estimations on the material anticipated liabilities:
48. Deferred income
In RMB
|||||||
|-|-|-|-|-|-|
||||Decreased this|||
|Items|Opening balance|Increased this period||Closing balance|Cause|
||||period|||
|Government subsidy|427,524,000.00|19,500,000.00|31,328,000.00|415,696,000.00||
|Total|427,524,000.00|19,500,000.00|31,328,000.00|415,696,000.00|--|

Government subsidy items involved:
In RMB
||||||||
|-|-|-|-|-|-|-|
||||Amount transferred||||
||Opening|New subsidy incurrent period||Other|Closing|Asset-related or|
|Liability projects|||to non-operational||||
||balance|||changes|balance|income-related|
||||income||||
|Desulfuration project of|1,600,000.00||400,000.00||1,200,000.00|Asset-related|

Bengang Steel Plates Co., Ltd. Interim Report 2015 Full Text
|||||||
|-|-|-|-|-|-|
|220t/h furnace||||||
|MES project fund|8,600,000.00||860,000.00|7,740,000.00|Asset-related|
|Environment treatment||||||
||1,080,000.00||270,000.00|810,000.00|Asset-related|
|project of Benxi City||||||
|Second batch of Funding for||||||
|National Cleaned||||||
||2,400,000.00||400,000.00|2,000,000.00|Asset-related|
|Manufacture Demonstration||||||
|Project||||||
|Subsidiary for industrial||||||
|energy control center|11,600,000.00|||11,600,000.00|Asset-related|
|demonstration project||||||
|Environment Pollution||||||
||22,942,000.00||2,617,000.00|20,325,000.00|Asset-related|
|Renovation Project||||||
|Environment Renovation||||||
|Project and Regional Basin||||||
||2,180,000.00||240,000.00|1,940,000.00|Asset-related|
|Environment Protection||||||
|Project||||||
|Energy-saving Technological||||||
|Transformation Fiscal|8,862,000.00||1,477,000.00|7,385,000.00|Asset-related|
|Reward Project||||||
|Cool rolling high strength||||||
||250,000,000.00|||250,000,000.00|Asset-related|
|steel rebuilding||||||
|desulfuration project of||||||
|2*265 square meter burnning|2,000,000.00||500,000.00|1,500,000.00|Asset-related|
|line||||||
|Water treatment project of||||||
|2*265 square meter burnning|6,760,000.00||1,690,000.00|5,070,000.00|Asset-related|
|line||||||
|Reconstruction of dust||||||
|remover of the 360m3|120,000.00||30,000.00|90,000.00|Asset-related|
|burnning line||||||
|Automobile High-class||||||
|Electrolytic Zinc Steel Plate|41,040,000.00|||41,040,000.00|Asset-related|
|Production Line Project||||||
|Heat recycling and||||||
|disulfuration project of the|21,020,000.00||2,102,000.00|18,918,000.00|Asset-related|
|burnning line||||||
|Water treatment factory||||||
||4,500,000.00||750,000.00|3,750,000.00|Asset-related|
|reconstruction project||||||
|Fund for introducing of||||||
||4,000,000.00|||4,000,000.00|Income related|
|overseas R&D team||||||
|Disulfuration project of the 7||||||
||24,000,000.00|||24,000,000.00|Asset-related|
|boilers of the Power Plant||||||
|Waste liquid processing||||||
||400,000.00||50,000.00|350,000.00|Asset-related|
|project of Coke Factory||||||
|Special fund for importing of||||||
||14,420,000.00||442,000.00|13,978,000.00|Asset-related|
|overseas technologies||||||
|Eliminating of out-of-date||||||
|||19,500,000.00|19,500,000.00||Income related|
|production award||||||
|Total|427,524,000.00|19,500,000.00|31,328,000.00|415,696,000.00|--|

 Remarks:
1. 220t/h Boiler Desulfurization: According to “Notice about the first batch of Provincial Environmental Protection Special Funding Project of 2006” (Liao Huan Fa„2006‟ No. 65) and “Notice about the first batch of Provincial Environmental Protection Special Funding Project of 2008” (Liao Huan Fa„2008‟ No. 29) issued by Department of Environmental Protection of Liaoning Province and Liaoning Provincial Finance Department, RMB 4 million was received for this project. The project was completed in December 2011 and the funding was to be amortized in the next 5 years from 2012.
2. MES Project Special Fund: According to “Notice about National Budget Investment Plan of 2010 of Key Industry Development and Technology Innovation (3rd batch) and Industrial SMEs Technology Innovation of Benxi” (Ben Fa Gai Fa„2010‟ No. 285) issued by Benxi Development and Reform Commission, Benxi Economy and Informatization Commission and
Benxi SME Bureau, RMB 8.6 million was received for this project. The project was completed in December 2014 and the
funding was to be amortized in the next 5 years from 2015.
3. Municipal Environmental Pollution Renovation Project: According to “Notice about Benxi Environmental Pollution
Bengang Steel Plates Co., Ltd. Interim Report 2015 Full Text Renovation Project of 2011” (Ben Huan Fa„2011‟ No. 53) issued by Bureau of Environmental Protection of Benxi and Bureau of Finance of Benxi, RMB 2.7 million was received and used for the reform of 265 square meters sinter machine tail ESP and the reform of three car tipplers dumpers with new spray and dust catcher facilities in raw material plant 2. The project was completed and the funding was to be amortized in the next 5 years from 2012.
4. Second batch of Funding for National Cleaned Manufacturing Demonstration Project: According to “Notice about the second batch of Funding for National Cleaned Manufacturing Demonstration of 2013” (Cai Jian„2013‟ No. 681) issued by Ministry of Finance of PRC, RMB 4 million was received and used for the reform of the phenol cyanide sewage treatment system in coking plant. The project was completed in 2013 and the funding was to be amortized in the next 5 years from 2013.
5. Industrial Enterprise Energy Management Center Construction Demonstration Project: According to “Notice about Appropriation of Governmental Subsidy of Industrial Enterprise Energy Management Center Construction Demonstration Project of 2009” (Liao Cai Zhi Qi„2009‟ No. 868) issued by Liaoning Provincial Finance Department, RMB 11.6 million was received for this project for the construction of new energy controlling center. The project is under implementation.
6. Environment Pollution Renovation Project: According to “Notice about Appropriation of Funding Plan of Benxi Environment Pollution Renovation Project” (Ben Huan Fa„2012‟ No. 78) issued by Bureau of Environmental Protection of Benxi, RMB 12.07 million was received and used for the reform of environmental protection facilities in coking plant and iron making plant. The project was completed in 2013 and the funding is amortized in the next 5 years from 2013.
In 2014, according to “Notice about the first batch of Benxi Environmental Protection Special Funding Project of 2013” (Ben Huan Fa„2013‟ No. 85) issued by Bureau of Environmental Protection of Benxi, another RMB 14.10 million was received and used for the one 360 Square meter mesintering machine desulfurization project in iron works. The project was completed in 2014 and the funding was to be amortized in the next 5 years from 2015.
7. Environment Renovation Project and Regional Basin Environment Protection Project: According to “Notice about the second batch of Funding Plan of Benxi Environment Renovation Project and Regional Basin Environment Protection Project” (Ben Huan Fa„2012‟ No. 81) issued by Bureau of Environmental Protection of Benxi, RMB 2 million was received. Among the received funding, 1.7 million was used for one 265 Square meter mesintering machine desulfurization project. This project was completed in 2014 and the funding was to be amortized in the next 5 years. The other 0.3 million was used for the renovation of batching and dust eliminating of the second sintering plant of iron making plant. This project was completed in 2013 and the funding was to be amortized in the next 5 years.
In 2014, according to “Notice about the Funding Plan of The Blue Sky Project 0f 2013” (Ben Cai Fa„2014‟ No. 52), RMB 0.4 million was received and used for the renovation of dust elimination project of the iron making plant. The project was completed in 2013 and the funding was to be amortized in the next years.
8. Energy-saving Technological Reform Fiscal Reward Project: According to “Notice about the first batch of Implementation Plan of Energy-saving Technological Reform Fiscal Reward Project” (Fa Gai Huan Zi„2009‟ No. 2483) issued by National Development and Reform Commission, RMB 14.77 million was received and used for the Boiler Reform Project of CCPP in power plant. The project was completed in 2013 and the funding was to be amortized in the next 5 years from 2013.
9. High Strength Cool-rolling Renovation Project: According to “Notice about Appropriation of Enterprise Technology Reform Loan Fiscal Subsidy of 2012” (Liao Cai Zhi Qi„2012‟ No. 715) issued by Liaoning Provincial Finance Department, RMB 50 million was first received. Then in 2013 another RMB 50 million was received according to “Notice about Appropriation of the forth Fiscal Subsidy Plan for Enterprise Technology Reform” (Liao Jing Xin Tou Zi„2013‟ No. 241) issued by Liaoning Provincial Economy and Informatization Commission and Liaoning Provincial Finance Department, and RMB 100 million was received according to “Notice about National Budget Investment Project Subsidy for Technology Reform of 2012” (Fa Gai Ban Chan Ye„2012‟ No. 1642) issued by Office of National Development and Reform Commission and Office of Ministry of Industry and Details Technology of PRC in current period. In 2014, 50 million was received according to the “Notice about Appropriation of the second batch of Discount Interest Funds for the Loans for Enterprise Technical Reformation of 2014” (Liao Cai Zhi Qi„2014‟ No. 289) issued by Liaoning Provincial Finance Department. The project is expected to be completed in 2016. 10.2*265 Square Meter Sintering Machine Desulfurization Project: According to “Notice about the second batch of Budget of Environmental Protection Special Funding Project of 2009 in Liaoning Province” (Liao Cai Zhi Jing„2009‟ No. 1076) issued by Liaoning Provincial Finance Department, RMB 5 million was received for this project. The project was completed in December 2011 and the funding was to be amortized in the next 5 years from 2012.
In 2014, according to “Notice about the Funding Plan of The Blue Sky Project 0f 2013” (Ben Cai Fa„2014‟ No. 52), another RMB 0.6 million was received and the fund was transferred into profit and loss of current period.
11.2*265 Square Meter Sintering Machine Polluted Water Project: According to “Notice about Budget of National Pollution Discharge Special Funding Project of 2009” (Liao Cai Zhi Jing„2009‟ No. 1153) issued by Liaoning Provincial Finance Department, RMB 16.90 million was received for this project. The project was completed in December 2011 and the funding was to be amortized in the next 5 years from 2012.
Bengang Steel Plates Co., Ltd. Interim Report 2015 Full Text 12. Automobile High-class Electrolytic Zinc Steel Plate Production Line Project : According to “Notice about Key Industry Revitalization and First Technology Reform Project Construction Expansion and National Debt Investment Budget” issued by Liaoning Provincial Development and Reform Commission, RMB 41.04 million was received for this project. The project is under implementation.
13. Sintering Machine Residue Heat Usage and Desulfurization Project: According to “Notice about the third batch of National Budget of Investment Plan for Key Industrial and Technology Reform Project of 2011” (Liao Fa Gai Tou Zi„2011‟ No. 1319) issued by Liaoning Provincial Development and Reform Commission, a total amount of RMB 21.02 was to be appropriated. First RMB 17.86 million was received for this project in 2012. In 2014, another RMB3.16 million was received. The project was completed in 2014 and the funding was to be amortized in the next 5 years from 2015.
14. Polluted Water Treatment Project: According to “Notice about the third batch of National Funding for Environmental Pollution Renovation Project of Liaohe Basin” (Liao Cai Zhi Jing„2010‟ No. 1072) issued by Liaoning Provincial Finance Department, RMB 7.5 million was received for this project. The project was completed in December 2013 and the funding was to be amortized in the next 5 years from 2013.
15. OverseasR&D Team Introduction Fund:
1) According to “Notice about Appropriation for OverseasR&D Team Introduction Funding Supported by The Government of 2008” (Liao Wai Zhuan„2008‟ No. 71) issued by Liaoning Provincial Administration of Foreign Experts Affairs, RMB 1 million was received for overseasR&D team introduction of cold-rolling grain-oriented silicon steel project. This project has not started yet.
2) According to “Notice about Appropriation for the second batch of OverseasR&D Team Introduction Funding Supported by The Government of 2010” (Liao Wai Zhuan„2010‟ No. 71) issued by Liaoning Provincial Administration of Foreign Experts Affairs, RMB 1 million was received for overseasR&D team introduction of high-grade cold-rolling plate used in automobile. The project was completed in 2014 and the fund was transferred into profit and loss of current period. 3) According to “Notice about Appropriation for the third and fourth batch of OverseasR&D Team Introduction Funding Supported by The Government of 2010” (Liao Wai Zhuan„2011‟ No. 5) issued by Liaoning Provincial Administration of Foreign Experts Affairs, RMB 0.5 million was received for overseasR&D team introduction of hot-rolling pipe with thickness and high grade. The project was completed in 2014 and the fund was transferred into profit and loss of current period.
4) According to “Notice about Project of OverseasR&D Team Introduction in Liaoning Province” (Liao Wai Zhuan Han„2013‟ No. 46) issued by Liaoning Provincial Administration of Foreign Experts Affairs, RMB 0.5 million was received for overseasR&D team introduction of the manufacture technology of 300 series stainless steel cold-rolling. This project has not started yet.
5) According to “Notice about Project of OverseasR&D Team Introduction in Liaoning Province” (Liao Wai Zhuan Han„2013‟ No. 47) issued by Liaoning Provincial Administration of Foreign Experts Affairs, RMB 0.5 million was received for overseasR&D team introduction of the reform of the cooling equipment used in 2300 series hot-rolling line. This project has not started yet.
6) According to “Notice about Project of OverseasR&D Team Introduction in Liaoning Province” (Liao Wai Zhuan Han„2012‟ No. 48) issued by Liaoning Provincial Administration of Foreign Experts Affairs, RMB 0.5 million was received for overseasR&D team introduction of the manufacture technology of cold-rolling steel with high strength used in automobile. This project has not started yet.
7) According to “Notes about Project of OverseasR&D Team Introduction in Liaoning Province” (Liao Wai Zhuan Han„2012‟ No. 47) issued by Liaoning Provincial Administration of Foreign Experts Affairs, RMB 0.5 million was received for overseasR&D team introduction of the manufacture technology of electro-galvanizing plate used in automobile. This project has not started yet.
8) According to “Notes about Project of OverseasR&D Team Introduction in Liaoning Province” (Liao Wai Zhuan Han„2013‟ No. 137) issued by Liaoning Provincial Administration of Foreign Experts Affairs, RMB 0.5 million was received for the production of automobile cold rolled dual phase steels. This project is now under implementation.
9) According to “Notes about Approval for Selltement of 53 OverseasR&D Team Introduction Projects” (Liao Ren She„2014‟ No. 271) issued by Liaoning Provincial Administration of Foreign Experts Affairs, RMB 0.5 million was received for the research and development of high grade automobile cold rolling steel plates. This project was completed in 2014 and the fund was transferred into profit and loss of current period all at once.
10) According to “Notes about Project of OverseasR&D Team Introduction in Liaoning Province” (Liao Wai Zhuan Han„2014‟ No. 54) issued by Liaoning Provincial Administration of Foreign Experts Affairs, RMB 0.5 million was received the production of hot dip galvanized sheet of high surface quality for automobile. This project is now under implementation. 16. 7Boilers‟ Flue Gas Desulfurization Renovation Project: According to “Notice about the Budget Index of the second batch of Provincial Environmental Protection Special Funding Project of 2014” (Liao Cai Zhi Jing„2014‟ No. 338) issued by RMB 2.4 million was received. The Company implemented the flue gas desulfurization renovation of three 240t/h boilers, two coal-fired high pressure boilers and one gas fired high pressure boiler. The project is under implementation.
17. Management and Salt Extracting of Desulfurization Waste Project: According to “Notice about the first batch of Benxi
Bengang Steel Plates Co., Ltd. Interim Report 2015 Full Text Environmental Protection Special Funding Project of 2013” (Ben Huan Fa„2013‟ No. 85) issued by Bureau of Environmental Protection of Benxi, RMB 0.5 million was received. The project was completed in December 2013, and the funding was to be amortized in the next 5 years from 2014.
18. Overseas Advanced Technology Introduction Funding:
1) According to “Note about the Appropriation of the Provincial Special Funding for Introduction of Overseas Advanced Technology of 2013” (Liao Cai Zhi Qi„2013‟ No. 1084) issued by Liaoning Provincial Finance Department, RMB 10 million was received and used for the production technology progress of high-grade electro galvanized sheet. The negotiation with foreign companies is undergoing.
2) According to “Note about the Appropriation of the Provincial Special Funding for Introduction of Overseas Advanced Technology of 2013” (Liao Cai Zhi Qi„2013‟ No. 1084) issued by Liaoning Provincial Finance Department, RMB 4.42 million was received and used for the technology progress of 1700MM unit. The project was completed in December 2014 and the funding was to be amortized in the next 5 years from 2015.
19. Award for eliminating of out-of-date production: According to the Notice from the Central Government on Awarding Energy-saving Projects 2014, the Company has received RMB19.50 million from Liaoning Provincial Government.
Deconstruction project has been completed and transferred to current income account.
49. Other non-current liabilities
In RMB
||||
|-|-|-|
|Items|Closing balance|Opening balance|

Remarks:
50. Capital Share
In RMB Yuan
|||||||||
|-|-|-|-|-|-|-|-|
|||Changed this period (+,-)||||||
||Opening||||||Closing|
|||Issuing of new||Transferred||||
||balance||Bonus shares||Others|Sub-total|balance|
|||shares||from reserves||||
|Total of capital|3,136,000,000.00||||||3,136,000,000.00|
|shares||||||||

 Remarks:
None
51. Other equity instruments
(1) Profiles of other financial instruments issued externally such as preference shares or perpetual bond at end of period
(2) Change of financial instruments issued externally such as preference shares or perpetual bond at end of period
In RMB
Bengang Steel Plates Co., Ltd. Interim Report 2015 Full Text
||||||||||
|-|-|-|-|-|-|-|-|-|
|Financial|At beginning of term||Increased this period||Decreased this period||At end of term||
|instruments|||||||||
|issued|Amount|Book value|Amount|Book value|Amount|Book value|Amount|Book value|
|externally|||||||||

Statement on change of other equity instruments and accounting treatment:
Remarks:
52. Capital reserves
In RMB
||||||
|-|-|-|-|-|
|Items|Opening balance|Increased this period|Decreased this period|Closing balance|
|Capital premium (share|||||
||8,998,928,073.23|||8,998,928,073.23|
|capital premium)|||||
|Other capital reserves|115,917,468.82|||115,917,468.82|
|Total|9,114,845,542.05|||9,114,845,542.05|

 Other remarks: Statement on change and reasons of the period.
None
53. Shares in stock
In RMB
||||||
|-|-|-|-|-|
|Items|Opening balance|Increased this period|Decreased this period|Closing balance|

 Other remarks: Statement on change and reasons of the period.
54. Other miscellaneous income
In RMB
|||||||||
|-|-|-|-|-|-|-|-|
|||Occurred current term||||||
||||Less:|||||
|||Amount||||||
||||accounted as|||||
|||occurred|||Attributable|Attributable||
||Opening||other gains|Less:|||Closing|
|Items||||||||
|||before|||to the|to minority||
||balance||previously but|Income tax|||balance|
|||income tax|||parent co.|shareholder||
||||transferred to|expenses||||
|||of the|||after tax|s after tax||
||||gain/loss this|||||
|||period||||||
||||period|||||

Other remarks: Adjustment of initial recognized amount of the effective part of cash flow hedging transferred to the hedged items: 55. Special reserves
In RMB
Bengang Steel Plates Co., Ltd. Interim Report 2015 Full Text
||||||
|-|-|-|-|-|
|Items|Opening balance|Increased this period|Decreased this period|Closing balance|
|Safety expenses|430,777.94|17,493,564.59|6,655,498.15|11,268,844.38|
|Total|430,777.94|17,493,564.59|6,655,498.15|11,268,844.38|

 Other remarks: Statement on change and reasons of the period.
Safety expenses are provided according to the document财企[2012]16号.
56. Surplus reserves
In RMB
||||||
|-|-|-|-|-|
|Items|Opening balance|Increased this period|Decreased this period|Closing balance|
|Statutory surplus|||||
||961,105,529.85|||961,105,529.85|
|reserves|||||
|Total|961,105,529.85|||961,105,529.85|

 Remarks on surplus reserves: Statement on change and reasons of the period.
57. Retained profit
In RMB
||||
|-|-|-|
|Items|Current term|Previous term|
|Adjustment on retained profit at end of previousterm|||
||2,172,180,473.24|2,100,587,079.16|
|Retained profit at beginning of term afteradjustment|2,172,180,473.24||
|||2,100,587,079.16|
|Plus: Net profit attributable to owners of theparent company|||
||128,007,136.26|173,894,309.64|
|Common share dividend payable|156,800,000.00|156,800,000.00|
|Retained profit at the end of term|2,143,387,609.50|2,117,681,388.80|

 Breakdown of adjustment on opening balance of retained profit:
1) Influence of application of new articles of Enterprise Accounting Standard was RMB0.00 on the opening balance of retained profit.
2) Change of accounting policies by RMB0.00.
3) Correction of material accounting error by RMB0.00.
4) Change of consolidation range under same control by RMB0.00.
5) Other adjustment by RMB0.00.
58. Operation income and operation cost
In RMB
Bengang Steel Plates Co., Ltd. Interim Report 2015 Full Text
||||||
|-|-|-|-|-|
||Occurred current term||Occurred in previous term||
|Items|||||
||Revenue|Cost|Revenue|Cost|
|Major business|15,440,544,823.29|14,122,473,154.22|18,712,609,372.61|17,181,683,180.74|
|Other business|904,370,337.89|779,076,196.35|1,100,066,909.20|957,442,899.98|
|Total|16,344,915,161.18|14,901,549,350.57|19,812,676,281.81|18,139,126,080.72|

 59. Business tax and surcharge
In RMB
||||
|-|-|-|
|Items|Occurred current term|Occurred in previous term|
|Operational tax|16,669.64|60,167.57|
|City maintenance and construction tax|18,014,215.00|37,675,170.42|
|Education surtax|13,079,642.69|27,358,527.49|
|Total|31,110,527.33|65,093,865.48|

 Remarks:
60. Sales expenses
In RMB
||||
|-|-|-|
|Items|Occurred current term|Occurred in previous term|
|Outsourced transportation|328,006,061.57|200,717,734.34|
|Port fee|87,479,749.54|79,511,461.24|
|Import & export agency fee|24,745,056.29|30,793,751.74|
|Packaging|4,584,561.83|28,225,787.71|
|Wage and remuneration|10,973,035.26|12,136,222.13|
|Others|22,560,814.65|21,120,459.99|
|Total|478,349,279.14|372,505,417.15|

 Remarks:
Increasing of sales expenses was RMB105,843,861.99,28.41% over the previous period, which was caused by increasing of external railroad transportation and port fees.
61. Administrative expenses
In RMB
||||
|-|-|-|
|Items|Occurred current term|Occurred in previous term|
|Wage and remuneration|77,177,155.64|110,234,653.79|
|Maintaining|104,720,803.04|121,066,431.88|
|Taxes|42,079,539.74|43,378,362.70|
|Land using rights|28,713,000.00|28,713,000.00|
|Depreciation|14,204,850.77|30,914,431.25|

Bengang Steel Plates Co., Ltd. Interim Report 2015 Full Text
||||
|-|-|-|
|Social insurance|21,520,775.83|26,490,632.56|
|Sewage expense|9,425,948.00|13,706,701.00|
|Water resource fee||60,000.00|
|Housing fund|5,591,290.00|5,852,308.20|
|Heating|2,453,593.71|4,342,101.86|
|Business reception expenses|2,310,495.63|2,634,137.25|
|Amortizing of intangible assets|2,969,528.59|1,316,459.95|
|Transportation|958,865.94|645,787.83|
|Rental|1,034,911.12|180,950,181.25|
|Others|64,430,289.44|52,251,257.85|
|Total|377,591,047.45|622,556,447.37|

 Remarks:
Administration expenses decreased by RMB244,965,399.92(39.35%) from the previous period, which was caused by transferring of rental of 2300 hot rolling line to cost.
62. Financial expenses
In RMB
||||
|-|-|-|
|Items|Occurred current term|Occurred in previous term|
|Interest expense|429,696,201.70|335,252,814.41|
|Less: Incoming interests|22,675,836.00|10,576,749.48|
|Exchange gains/losses|-36,987,636.90|66,754,808.48|
|Others|21,366,898.57|20,587,512.87|
|Total|391,399,627.37|412,018,386.28|

 Remarks:
Financial expenses decreased by RMB20,618,758.91(5%) from the previous period, which was caused by decrease of exchange gains in the period.
63. Asset impairment loss
In RMB
||||
|-|-|-|
|Items|Occurred current term|Occurred in previous term|
|I. Bad debt loss|-6,196,664.93||
|II. Inventory impairment loss|56,692,510.95|25,493,258.89|
|Total|50,495,846.02|25,493,258.89|

 Remarks:
64. Income from fair value fluctuation
In RMB
||||
|-|-|-|
|Source of income from fluctuation of fair|Occurred current term|Occurred in previous term|

Bengang Steel Plates Co., Ltd. Interim Report 2015 Full Text
||
|-|
|value|

Remarks:
65. Investment income
In RMB
||||
|-|-|-|
|Items|Occurred current term|Occurred in previous term|
|Gains from short-term bank financial|||
||6,584,315.11|13,555,224.57|
|instruments|||
|Total|6,584,315.11|13,555,224.57|

 Remarks:
66. Non-operational income
In RMB
|||||
|-|-|-|-|
||||Carried to current contingent|
|Items|Occurred current term|Occurred in previous term||
||||gain/loss|
|Total of gains from disposal of|2,927,761.15|3,039,885.23||
||||2,927,761.15|
|non-current assets||||
|Incl. Gains from disposal of||||
||2,927,761.15|3,039,885.23|2,927,761.15|
|fixed assets||||
|Gains from debt reorganization|6,439,698.87|3,650,253.76|6,439,698.87|
|Government subsidy|31,328,000.00|1,159,998.00|31,328,000.00|
|Others|1,527,544.44|2,326,883.39|1,527,544.44|
|Total|42,223,004.46|10,177,020.38||

Government subsidies accounted to current income account:
In RMB
|||||
|-|-|-|-|
|Subsidy titles|Amount of the current period|Amount of the previous period|Asset-related or income-related|
|Transferred from deferred||||
||11,828,000.00|59,998.00|Income related|
|income||||
|Enterprise allowances|19,500,000.00|50,000.00|Income related|
|Government supporting fund||||
|Tax refund||1,050,000.00|Income related|
|Total|31,328,000.00|1,159,998.00|--|

Remarks:
None
Bengang Steel Plates Co., Ltd. Interim Report 2015 Full Text 67. Non-operational expenditures
In RMB
|||||
|-|-|-|-|
||||Carried to current contingent|
|Items|Occurred current term|Occurred in previous term||
||||gain/loss|
|Total of loss from disposal of|20,661,325.20|3,912.18||
||||20,661,325.20|
|non-current assets||||
|Incl. Loss from disposal of||||
||20,661,325.20|3,912.18|20,661,325.20|
|fixed assets||||
|Total|20,661,325.20|3,912.18||

Remarks:
68. Income tax expenses
(1) Income tax
In RMB
||||
|-|-|-|
|Items|Occurred current term|Occurred in previous term|
|Income tax of current term|14,579,310.17|15,883,711.28|
|Deferred income tax|-16,998,515.09|-5,442,045.37|
|Total|-2,419,204.92|10,441,665.91|

 (2) Adjustment process of accounting profit and income tax expenses
In RMB
|||
|-|-|
|Items|Occurred current term|
|Total profit|142,565,477.67|
|Income tax expenses calculated on legal / applicable tax rate|14,579,310.17|
|Impact of deductible temporary difference of un-recognized||
||-16,998,515.09|
|deferred income tax asset of current period||
|Income tax expenses|-2,419,204.92|

 Other statements
69. Other miscellaneous income
See the Notes for details.
Bengang Steel Plates Co., Ltd. Interim Report 2015 Full Text 70. Items of cash flow statement
(1) Other cash inflow related to operation
In RMB
||||
|-|-|-|
|Items|Occurred current term|Occurred in previous term|
|Incl. Trade and payment on behalf received|25,782,371.73|60,712,702.06|
|Interest income|22,675,836.00|10,576,749.48|
|Special fund received||13,910,000.00|
|Non-operational income|19,500,000.00|1,159,998.00|
|Others|557,892.02|437,593.26|
|Total|68,516,099.75|86,797,042.80|

 Remarks on other cash received relating to business operation:
(2) Other cash paid related to operation
In RMB
||||
|-|-|-|
|Items|Occurred current term|Occurred in previous term|
|Incl. Trade account and paid on behalf|457,240,106.06|486,437,012.32|
|Administrative expense|43,412,221.91|47,317,732.96|
|Sales expense|4,514,247.62|5,252,661.52|
|Commission expenses|21,366,898.57|20,587,512.87|
|Others|2,499,673.65|1,790,071.43|
|Total|529,033,147.81|561,384,991.10|

 Remarks on other operation-related payment:
(3) Other cash received related to investment
In RMB
||||
|-|-|-|
|Items|Occurred current term|Occurred in previous term|

收到的其他与投资活动有关的现金说明：
(4) Other cash paid related to investment
In RMB
||||
|-|-|-|
|Items|Occurred current term|Occurred in previous term|

Bengang Steel Plates Co., Ltd. Interim Report 2015 Full Text Remarks on other cash paid related to investment.
(5) Other cash received related to financing
In RMB
||||
|-|-|-|
|Items|Occurred current term|Occurred in previous term|

 Remarks on other cash received related to financing:
(6) Other cash paid related to financing
In RMB
||||
|-|-|-|
|Items|Occurred current term|Occurred in previous term|

 Statement on other cash paid related to financing
71. Supplementary data of cash flow statement
(1) Supplementary data of cash flow statement
In RMB
||||
|-|-|-|
||Amount of the Current|Amount of the Previous|
|Supplementary Info.|||
||Term|Term|
|1. Net profit adjusted to cash flow of business operation|--|--|
|Net profit|144,984,682.59|189,169,492.78|
|Plus: Asset impairment provision|50,495,846.02|25,493,258.89|
|Fixed asset depreciation, gas and petrol depreciation, production goods|||
||913,520,540.47|1,045,357,820.05|
|depreciation|||
|Amortizing of intangible assets|2,969,528.59|1,316,459.95|
|Loss from disposal of fixed assets, intangible assets, and other long-term|||
||-17,733,564.05|-3,035,973.05|
|assets (“-“ for gains)|||
|Financial expenses (“-“ for gains)|391,399,627.37|412,018,386.28|
|Investment losses (“-“ for gains)|-6,584,315.11|-13,555,224.57|
|Decrease of deferred income tax asset (“-“ for increase)|-16,998,515.09|-5,442,045.37|
|Decrease of inventory (“-“ for increase)|-745,030,608.94|-367,397,286.99|
|Decrease of operational receivable items (“-“ for increase)|-883,917,194.53|-514,837,206.85|
|Increase of operational payable items (“-“ for decrease)|-2,177,143,380.54|-1,991,550,780.88|
|Cash flow generated by business operation, net|-2,344,037,353.22|-1,222,463,099.76|
|2. Major investment and financing operation not involving with cash|--|--|
|3. Net change of cash and cash equivalents|--|--|
|Balance of cash at period end|3,520,088,380.34|2,583,042,559.12|
|Less: Initial balance of cash|9,792,940,409.40|4,574,532,598.83|
|Net increasing of cash and cash equivalents|-6,272,852,029.06|-1,991,490,039.71|

 (2) Net cash paid for acquisition of subsidiaries
In RMB
||
|-|
|Amount|

Bengang Steel Plates Co., Ltd. Interim Report 2015 Full Text
|||
|-|-|
|In which:|--|
|In which:|--|
|In which:|--|

Remarks:
(3) Net cash received from disposal of subsidiaries
In RMB
|||
|-|-|
||Amount|
|In which:|--|
|In which:|--|
|In which:|--|

Remarks:
(4) Composition of cash and cash equivalents
In RMB
||||
|-|-|-|
|Items|Closing balance|Opening balance|
|I. Cash|3,520,088,380.34|9,792,940,409.40|
|Incl: Cash in stock|71,255.41|14,168.01|
|Bank savings could be used at any|||
||3,520,017,124.93|9,327,019,862.06|
|time|||
|III. Balance of cash and cash equivalents at|3,520,088,380.34|9,792,940,409.40|
|end of term|||

Remarks:
72. Notes to statement of change inowners’ equity
Remarks on “other” items adjusted upon the closing balance of previous year:
73. Asset with ownership or using rights under restriction
In RMB
||||
|-|-|-|
|Items|Closing book value|Causation of limitation|
|Monetary capital|175,479,435.16|Deposit for bank accepted drafts|
|Total|175,479,435.16|--|

Remarks:
Bengang Steel Plates Co., Ltd. Interim Report 2015 Full Text 74. Monetary items in foreign currency
(1) Monetary items in foreign currency
In RMB
|||||
|-|-|-|-|
||||Balance translated to RMB at|
|Items|Balance at end of period|Exchange rate||
||||end of year|
|Incl. USD|298,570,874.61|6.1136|1,825,342,899.02|
|EURO|18,634.83|6.8699|128,019.42|
|HKD|567,870.80|0.7886|447,822.91|
|Incl. USD|100,000,000.00|6.1136|611,360,000.00|
|JPY|287,474,687.62|0.0501|14,402,481.85|

 Remarks:
(2) Statement on overseas entities, including location, booking currency, as well as reasons of changing booking currency if any.
[] Applicable;[V] Not applicable
VIII. Equity in other entities
1. Equity in subsidiaries
(1) Composition of the group
||||||||
|-|-|-|-|-|-|-|
|||||Share|||
||Main business||Business||||
|Name of the subsidiaries||Reg. Add.||proportion %||Way of obtain|
||location||property||||
|||||Direct|Indirect||
|||||||Business combination under|
|Xiamen Bengang Steel Sales Ltd.|Xiamen|Xiamen|Sales|100.00%|||
|||||||common control|
|||||||Business combination under|
|Wuxi Bengang Steel Sales Ltd.|Wuxi|Wuxi|Sales|100.00%|||
|||||||common control|
|||||||Business combination under|
|Tianjin Bengang Steel Trading Ltd.|Tianjin|Tianjin|Sales|100.00%|||
|||||||common control|
|Nanjing Bengang Steel Material Sales||||||Business combination under|
||Nanjing|Nanjing|Sales|100.00%|||
|Ltd.||||||common control|
|||||||Business combination under|
|Yantai Bengang Steel Sales Ltd.|Yantai|Yantai|Sales|100.00%|||
|||||||common control|
|Haerbin Bengang International||||||Business combination under|
||Harbin|Harbin|Sales|100.00%|||
|Trading Ltd.||||||common control|
|||||||Business combination under|
|Changchun Bengang Steel Sales Ltd.|Changchun|Changchun|Sales|100.00%|||
|||||||common control|
|Guangzhou Bengang Trade Co., Ltd.|Guangzhou|Guangzhou|Sales|100.00%||Incorporation|
|Shanghai Bengang Metallurgy Tech.|||||||
||Shanghai|Shanghai|Sales|100.00%||Incorporation|
|Ltd.|||||||
|Bengang Steel Plate Liaoyang Orel|||||||
||Liaoyuang|Liaoyuang|Production|100.00%||Incorporation|
|Ball Co., Ltd.|||||||
|Dalian Benruitong Automobile|||||||
||Dalian|Dalian|Production|65.00%||Incorporation|
|Material Technologies Co., Ltd.|||||||

Bengang Steel Plates Co., Ltd. Interim Report 2015 Full Text
|||||||
|-|-|-|-|-|-|
|Bengang Puxiang Cool Rolling Steel|||||Business combination under|
||Benxi|Benxi|Production|75.00%||
|Sheet Co., Ltd.|||||common control|

Remarks on differences between shareholding and voting rights:
Basis of recognizing the investees in which the Company holds less than half of shares but has control power, or in which the Company holds more than half of shares but has no control power:
Basis of material structural entities in the range of consolidation or under control:
Basis of recognizing the Company as agent or consignor:
Remarks:
(2) Material non-fully-owned subsidiaries
In RMB
||||||
|-|-|-|-|-|
|||Gains/loss of the period|Dividend announced in|Balance of equity of|
||Share portion of minor||||
|Name of the subsidiaries||attributable to minor|the period to minor|minor shareholders at|
||shareholders||||
|||shareholders|shareholders|end of period|
|Bengang Puxiang Cool|||||
|Rolling Steel Sheet Co.,|25.00%|18,677,102.78||436,944,980.50|
|Ltd.|||||
|Dalian Benruitong|||||
|Automobile Material|35.00%|-1,699,556.45||32,329,427.35|
|Technologies Co., Ltd.|||||

Remarks on the difference between shareholding and voting rights of the minority shareholders:
Remarks:
(3) Material financial information of material non-fully-owned subsidiaries
In RMB
||||||||||||||
|-|-|-|-|-|-|-|-|-|-|-|-|-|
|Name of|Closing balance||||||Opening balance||||||
|the||Non-curr||Current|Non-curr|||Non-curr||Current|Non-curr||
||Current||Total of|||Total of|Current||Total of|||Total of|
|subsidiar||ent||Liabilitie|ent|||ent||Liabilitie|ent||
||Assets||assets|||liability|Assets||assets|||liability|
|ies||assets||s|liabilities|||assets||s|liabilities||
|Bengang|||||||||||||
|Puxiang|||||||||||||
|Cool|||||||||||||
||1,562,82|2,633,49|4,196,32|2,448,54||2,448,54|1,804,90|2,768,70|4,573,61|2,900,54||2,900,54|
|Rolling|||||||||||||
||7,694.64|5,332.13|3,026.77|3,104.81||3,104.81|8,327.93|7,380.04|5,707.97|4,197.11||4,197.11|
|Steel|||||||||||||
|Sheet|||||||||||||
|Co., Ltd.|||||||||||||
|Dalian|352,526,|172,161,|524,688,|432,318,||432,318,|522,882,|175,596,|698,479,|601,253,||601,253,|

Bengang Steel Plates Co., Ltd. Interim Report 2015 Full Text
||||||||||||
|-|-|-|-|-|-|-|-|-|-|-|
|Benruito|866.66|546.65|413.31|620.89|620.89|668.78|493.34|162.12|494.12|494.12|
|ng|||||||||||
|Automo|||||||||||
|bile|||||||||||
|Material|||||||||||
|Technolo|||||||||||
|gies Co.,|||||||||||
|Ltd.|||||||||||

In RMB
||||||||||
|-|-|-|-|-|-|-|-|-|
||Occurred current term||||Occurred in previous term||||
|Name of the||||Cash flow for||||Cash flow for|
||||Total misc||||Total misc||
|subsidiaries|Turnover|Net profit||business|Turnover|Net profit||business|
||||gains||||gains||
|||||activities||||activities|
|Bengang|||||||||
|Puxiang Cool|||||||||
||2,906,688,92|74,708,411.1|74,708,411.1|1,003,284,38|3,781,533,72|53,772,358.9|53,772,358.9|-207,306,696.|
|Rolling Steel|||||||||
||8.01|0|0|0.53|1.93|8|8|22|
|Sheet Co.,|||||||||
|Ltd.|||||||||
|Dalian|||||||||
|Benruitong|||||||||
|Automobile|355,356,585.|||24,288,981.7|99,629,475.0||53,772,358.9|27,409,566.3|
|||-4,855,875.58|-4,855,875.58|||-2,403,089.22|||
|Material|83|||6|3||8|6|
|Technologies|||||||||
|Co., Ltd.|||||||||

Remarks:
(4) Major restrictions on using of theGroup’s asset and settling of debts
(5) Financial or other support provided to structural entities in the consolidation range
Remarks:
Bengang Steel Plates Co., Ltd. Interim Report 2015 Full Text 2. Transaction causes change of shareholding position of the Company in a subsidiary but the Company still holds controlling power
(1) Statement on change of share of equity in subsidiary
(2) Influence of the transaction on minorityshareholders’ equity andowner’s equity attributable to the parent company
In RMB
 Other statements
3. Equity in joint venture arrangement or affiliates
(1) Major joint ventures or affiliates
||||||||
|-|-|-|-|-|-|-|
|||||Share proportion %||Accounting basis|
||Main business||||||
|Names of entities||Reg. Add.|Business property|||of investment in|
||location|||Direct|Indirect||
|||||||the entities|

 Remarks on the difference between shareholding and voting rights of the Company in the entity:
Basis for recognition of holding less than20% of shares but has material influence, or holding over20% of shares but without material influence:
(2) Major financial information of joint ventures
In RMB
|||
|-|-|
||Opening balance / amount of previous|
|Closing balance / amount of the period||
||period|

Other statements
(3) Major financial information of affiliates
In RMB
|||
|-|-|
||Opening balance / amount of previous|
|Closing balance / amount of the period||
||period|

Other statements
(4) Consolidated financial accounts of minor joint ventures and affiliates
In RMB
Bengang Steel Plates Co., Ltd. Interim Report 2015 Full Text
||||
|-|-|-|
|||Opening balance / amount of previous|
||Closing balance / amount of the period||
|||period|
|Joint ventures:|--|--|
|Total of the following on share proportion|--|--|
|Affiliates:|--|--|
|Total of the following on share proportion|--|--|

Other statements
(5) Statement on major restrictions on the ability of transferring capital from joint ventures or affiliates to the Company
(6) Excess loss generated by joint ventures or affiliates
In RMB
|||||
|-|-|-|-|
|||Loss of current period not||
||Accumulative losses of||Accumulative losses at end of|
|Names of entities||recognized (or net profit||
||previous periods not recognized||period not recognized|
|||enjoyed)||

Other statements
(7) Unrecognized commitment related to investment in joint ventures
(8) Contingent liabilities related to investment in joint ventures or affiliates
4. Major joint operation
|||||||
|-|-|-|-|-|-|
|Description of the|Main business|||Share portion||
|||Reg. Add.|Business property|||
|joint operation|location|||Direct|Indirect|

 Statement on differences between share and voting rights in joint operation:
Basis of recognizing joint operation if the operation is an individual entity:
Other statements
5. Equity in structural entities not consolidated
Remarks on structural entities not consolidated:
6. Others
IX. Risks associated with financial instruments
(1) Credit risk
Bengang Steel Plates Co., Ltd. Interim Report 2015 Full Text Credit risk refers to a financial loss to a party due to failure to discharge an obligation by the counterparties. The Company is exposed to credit risk arising fromcustomers‟ failure to discharge an obligation in sales on credit. In order to minimize the credit risk, the management of the Company is responsible for determination of credit limits, credit approvals and other monitoring procedures to ensure that follow-up actions are taken to recover overdue debts.
In addition, the Company strictly approves the line of credit, and only sells on credit to important customers for newly-developed products. In the monitoring of credit risk of customers, the Company sorts customers into groups by their credit characteristics. Those customers which are rated as “high risk” will be put in the restricted client list. The Company can only sell to these customers on credit with additional approval; otherwise the Company must ask for a corresponding deposit in advance.
(2) Market risk
Market risk of financial instruments refers to fluctuations of fair value or future cash flows due to market price changes, including currency risk, interest rate risk, and other price risk.
1. Interest rate risk
Interest rate risk refers to fluctuations of fair value or future cash flows due to market rate changes. TheCompany‟s exposure to currency risk is primarily arising from variable-rate bank balances and variable-rate borrowings. Currently, the Company does not have a specific policy to manage its interest rate risk. The management will carefully choose financing methods, and combine fixed interest rate with variable interest rate, short-term obligations with long-term obligations. By using effective interest rate risk management methods, the Company closely monitors interest rate risk and will consider interest-rate swaps to acquire an expected structure of interest rates shall the need arise.
Although these measures may not ensures that the Company completely avoids the risk of paying at a risk higher than market risk, or that the cash flow risk relevant to interest income fluctuations is completely eliminated, in the opinion of the management, these measures could achieve a reasonable balance among these risks.
2. Currency risk
Currency risk refers to fluctuations of fair value or future cash flows due to exchange rate changes. The Company has been constantly working on the adjustment of the organizational framework of risk management and optimization of debt structures to lower the currency risk.
(3) Liquidity risk
Liquidity risk refers to the risk of shortage of funds which occurs in fulfilling the obligation of settlement in a manner of delivering cash or other financial assets. TheCompany‟s policy is to maintain sufficient cash to meet maturing obligations. Liquidity risk is centralized controlled by theCompany‟s finance department. Through the monitoring of unrestricted cash and cash equivalents, bank acceptance bills due in short time and the continues forecasting of cash flow in the next 12 months, the finance department ensures that the Company has sufficient cash to meet obligations in all predicted reasonable circumstances.
Bengang Steel Plates Co., Ltd. Interim Report 2015 Full Text The following table details theCompany‟s mature date of residual contract value of underivative financial liabilities to repay according to the contract terms. The table has been drawn up based on the undiscounted cash flows of financial liabilities based on the earliest date on which the Company can be required to pay. The Closing balance
Items
|||||
|-|-|-|-|
|within 1 yr|1-2 yrs|2-5 yrs|over 5 yrs|
|738,831.66|61,822.84||596.38|
|1,618,675.37|9,800.00|158,700.00|12,440.25|
|2,357,507.03|71,622.84|158,700.00|13,036.63|

 table includes both interest and principal cash flows.
X. Related parties and related transactions
1. Parent companies of the Company
|||||||
|-|-|-|-|-|-|
|||||Percentage of shares||
|Name of the parent||||of the parent|Voting rights of the|
||Reg. Add.|Business property|Registered capital|||
|co.||||company in the|parent company|
|||||Company||
|Benxi Steel (Group)||||||
||Benxi|Production|53.69|77.10%|77.10%|
|Co., Ltd.||||||
|Bengang Group Co.,||||||
||Benxi|Production|180.00|77.10%|77.10%|
|Ltd.||||||

Particulars about the parent company of the Company
Note: The ultimate controlling party of the Company is the State-owned Assets Supervision and Administration Commission of Liaoning Province.
2. Subsidiaries of the Company
For details of subsidiaries of the Company please refer to Note 7 “Equity in other entities”.
3. Joint ventures and affiliates
Please find the related notes.
Bengang Steel Plates Co., Ltd. Interim Report 2015 Full Text Other joint ventures or affiliates with related transactions with the Company in current period or carried over from previous period.
|||
|-|-|
|Name of the entity|Relationship with the Company|

Other statements
4. Details of other related parties
|||
|-|-|
|Name of the related parties|Relationship between the Company and other related parties|
|Bengang Group International Trading Ltd.|Same parent|
|Bengang Group Hong Kong Ltd.|Both under Bengang Group|
|Bengang Stainless Cool-rolling (Dandong) Co., Ltd.|Same parent|
|Benxi Beiying Steel & Iron (Group) Co., Ltd.|Both under Bengang Group|
|Benxi Beiying Steel & Iron Group Import & Export Co., Ltd.|Both under Bengang Group|
|Bengang Electronics Co., Ltd.|Same parent|
|Benxi Steel (Group) Real-estate Development Co., Ltd.|Same parent|
|Benxi Steel (Group) Steel Process and Logistics Co., Ltd.|Same parent|
|Bengang (Group) Engineering Supervisory Co., Ltd.|Same parent|
|Benxi Steel (Group) Machinery Co., Ltd.|Same parent|
|Benxi Steel (Group) Construction Co., Ltd.|Same parent|
|Benxi Steel (Group) Mining Co., Ltd.|Same parent|
|Benxi Steel (Group) Thermal Power Development Co., Ltd.|Same parent|
|Benxi Steel (Group) Designing Institute|Same parent|
|Benxi Steel (Group) Industrial Development Co., Ltd.|Same parent|
|Benxi Steel (Group) Information & Automatic Tech. Co., Ltd.|Same parent|
|Benxi Steel (Group) Construction & Repairing Co., Ltd.|Same parent|
|Benxi Steel (Group) Metallurgy Residues Co., Ltd.|Same parent|
|Benxi Steel (Group) Medical Co. Ltd.|Same parent|
|Benxi Steel & Iron Group Ltd. News Center|Same parent|
|Benxi Steel & Iron (Group) Zhengtai Construction Materials Co.,||
||Same parent|
|Ltd.||
|Benxi Steel (Group) Drilling Tools Co., Ltd.|Same parent|
|Benxi Steel New Business Development Co., Ltd.|Same parent|
|Dalian Boluole Steel Tube Ltd.|Same parent|
|Guangshou Free Trade Zone Bengang Sales Co., Ltd.|Both under Bengang Group|
|Liaoning Bengang Steel & Iron Trading Co., Ltd.|Both under Bengang Group|
|Liaoning Hengtai Heavy Machine Co., Ltd.|Both under Bengang Group|
|Liaoning Hengtong Metallurgy Equipment Co., Ltd.|Both under Bengang Group|
|Liaoning Metallurgy Technician College|Same parent|
|Liaoning College of Metallurgy Technologies|Same parent|
|Shanghai Bengang Steel & Iron Trading Co., Ltd.|Both under Bengang Group|
|Tianjin Bengang Steel Plate Processing and Delivery Co., Ltd.|Both under Bengang Group|
|Suzhou Bengang Industrial Co., Ltd.|Shareholding company|
|Shanghai Bengang Steel Sales Ltd.|Both under Bengang Group|
|Benxi Steel & Iron Group Hospital|Both under Bengang Group|

Other statements
5. Related transactions
(1) Related party transactions of purchasing goods and services
Company as the purchaser
In RMB
|||||||
|-|-|-|-|-|-|
|||||Over||
||Subjects of the related|Occurred current|Amount of trade||Occurred in|
|Related parties||||trading or||
||transactions|term|approved||previous term|
|||||not||
|Benxi Steel (Group) Co., Ltd.|Maintaining|150,020,402.85|320,000,000.00|No|159,113,841.48|

Bengang Steel Plates Co., Ltd. Interim Report 2015 Full Text
|||||||
|-|-|-|-|-|-|
|Benxi Steel (Group) Co., Ltd.|Land rent|28,713,000.00|||28,713,000.00|
|Bengang Stainless Cool-rolling||||||
||Products in stock|301,149.02|10,000,000.00|No|1,845,603.83|
|(Dandong) Co., Ltd.||||||
|Benxi Steel (Group) Mining||||||
||Labor service|3,346,106.00|||694,490.87|
|Co., Ltd.||||||
|Benxi Steel (Group) Mining||||||
||Raw materials|2,693,692,233.97|5,500,000,000.00|No|2,552,465,985.10|
|Co., Ltd.||||||
|Benxi Steel (Group) Mining||||||
||Transportation|72,000.00|||890,400.00|
|Co., Ltd.||||||
|Benxi Steel (Group) Metallurgy||||||
||Raw materials|63,266,548.75|250,000,000.00|No|121,013,278.50|
|Residues Co., Ltd.||||||
|Benxi Steel (Group) Steel||||||
||Process fee|845,234.20|8,000,000.00|No|1,569,362.91|
|Process and Logistics Co., Ltd.||||||
|Benxi Steel (Group) Real-estate||||||
||Raw materials|39,045,563.54|80,000,000.00|No|40,643,417.89|
|Development Co., Ltd.||||||
|Benxi Steel (Group) Machinery||||||
||Spare parts|68,669,575.05|350,000,000.00|No|73,666,811.36|
|Co., Ltd.||||||
|Benxi Steel (Group) Machinery||||||
||Repairing services|1,325,019.00|||8,919,745.30|
|Co., Ltd.||||||
|Benxi Steel (Group)||||||
||Spare parts|193,488.82|||1,868,596.75|
|Construction Co., Ltd.||||||
|Benxi Steel (Group)||||||
||Engineering fee|185,397,005.60|800,000,000.00|No|204,005,673.77|
|Construction Co., Ltd.||||||
|Benxi Steel (Group)||||||
||Raw materials|2,170,267.40|||1,246,362.00|
|Construction Co., Ltd.||||||
|Benxi Steel (Group)||||||
||Transportation|2,073,764.37|||1,595,092.99|
|Construction Co., Ltd.||||||
|Benxi Steel (Group) Industrial||||||
||Spare parts|1,320,790.65|||20,104,848.00|
|Development Co., Ltd.||||||
|Benxi Steel (Group) Industrial||||||
||Raw materials|115,178,532.12|450,000,000.00|No|121,188,436.98|
|Development Co., Ltd.||||||
|Benxi Steel (Group) Industrial||||||
||Repairing services|11,946,566.34|||9,115,693.77|
|Development Co., Ltd.||||||
|Benxi Steel (Group) Industrial||||||
||Transportation|3,365,404.99|||3,406,128.29|
|Development Co., Ltd.||||||
|Benxi Steel (Group) Industrial||||||
||Project payment|75,675.68||||
|Development Co., Ltd.||||||
|Benxi Steel (Group)||||||
|Construction & Repairing Co.,|Material and parts|2,622,245.20|||3,451,985.99|
|Ltd.||||||
|Benxi Steel (Group)||||||
|Construction & Repairing Co.,|Engineering|26,414,500.14|250,000,000.00|No|55,038,100.23|
|Ltd.||||||
|Bengang Electronics Co., Ltd.|Raw materials|52,998,460.27|200,000,000.00|No|56,813,806.47|
|Bengang Electronics Co., Ltd.|Repairing services|7,479,548.00|||12,080,642.00|
|Benxi Steel (Group) Drilling||||||
||Spare parts|153,200.60|10,000,000.00|No|202,618.89|
|Tools Co., Ltd.||||||
|Benxi Steel New Business||||||
||Labour security fee|1,356,452.00|12,000,000.00|No|2,112,615.41|
|Development Co., Ltd.||||||
|Liaoning Metallurgy Technician||||||
||Spare parts|7,282,031.36|10,000,000.00|No|8,142,107.15|
|College||||||
|Bengang Group International||||||
||Commission|143,726,573.24|350,000,000.00|No|171,221,627.42|
|Trading Ltd.||||||
|Benxi Steel (Group)||||||
|Information & Automatic Tech.|Spare parts|7,625,775.27|||5,126,648.35|
|Co., Ltd.||||||
|Benxi Steel (Group)||||||
|Information & Automatic Tech.|Repairing services|4,807,474.00|50,000,000.00|No|2,950,800.00|
|Co., Ltd.||||||
|Benxi Steel (Group) Thermal||||||
||Heating fee|6,151,247.20|20,000,000.00|No|6,355,074.51|
|Power Development Co., Ltd.||||||
|Benxi Steel (Group) Designing||||||
||Engineering fee|3,333,396.23|50,000,000.00|No|5,212,820.51|
|Institute||||||
|Benxi Beiying Steel & Iron||||||
||Raw materials|3,101,614,671.68|8,000,000,000.00|No|3,902,954,510.94|
|(Group) Co., Ltd.||||||

Bengang Steel Plates Co., Ltd. Interim Report 2015 Full Text
|||||||
|-|-|-|-|-|-|
|Liaoning Hengtong Metallurgy|Raw materials and|||||
|||55,764,968.30|120,000,000.00|No|37,558,632.64|
|Equipment Co., Ltd.|parts|||||
|Liaoning Hengtai Heavy|Raw materials and|||||
|||15,708,326.80|60,000,000.00|No|1,628,256.50|
|Machine Co., Ltd.|parts|||||
|Liaoning Hengtai Heavy||||||
||Repairing and service|8,823,963.14|||2,864,147.00|
|Machine Co., Ltd.||||||
|Total||6,816,881,161.77|16,900,000,000.00||7,625,781,163.80|

 Selling of goods and services
In RMB
|||||
|-|-|-|-|
||Subjects of the related|Occurred current|Occurred in previous|
|Related parties||||
||transactions|term|term|
|Bengang Electronics Co., Ltd.|Power supply|78,293.74|700,469.03|
|Benxi Beiying Steel & Iron (Group) Co., Ltd.|Material and parts|19,700,091.10|118,255,143.43|
|Benxi Beiying Steel & Iron (Group) Co., Ltd.|Products|3,378,802.77|358,880,112.44|
|Benxi Steel (Group) Real-estate Development Co.,||||
||Power supply|705,737.19|1,702,929.02|
|Ltd.||||
|Benxi Steel (Group) Steel Process and Logistics Co.,||||
||Power supply|444,453.67|468,857.96|
|Ltd.||||
|Benxi Steel (Group) Steel Process and Logistics Co.,||||
||Products|141,670,736.20|330,409,969.94|
|Ltd.||||
|Benxi Steel (Group) Machinery Co., Ltd.|Products|839,738.62||
|Benxi Steel (Group) Machinery Co., Ltd.|Power supply|10,701,410.40|14,909,589.10|
|Benxi Steel (Group) Machinery Co., Ltd.|Material and parts|4,051,183.56||
|Benxi Steel (Group) Construction Co., Ltd.|Power supply|2,884,649.08|4,080,829.72|
|Benxi Steel (Group) Construction Co., Ltd.|Material and parts|49,098,480.69|35,430,417.09|
|Benxi Steel (Group) Mining Co., Ltd.|Power supply|373,787,318.32|343,017,387.92|
|Benxi Steel (Group) Mining Co., Ltd.|Material and parts|43,619,274.00|59,217,024.97|
|Benxi Steel (Group) Mining Co., Ltd.|Freight income|4,409,416.20|4,864,821.72|
|Benxi Steel (Group) Thermal Power Development||||
||Power supply|20,895,927.80|22,332,797.51|
|Co., Ltd.||||
|Benxi Steel (Group) Thermal Power Development||||
||Material and parts|4,914,186.95|371,647.98|
|Co., Ltd.||||
|Benxi Steel (Group) Thermal Power Development||||
||Freight income|59,129.25||
|Co., Ltd.||||
|Benxi Steel (Group) Industrial Development Co.,||||
||Power supply|4,233,719.89|4,088,538.94|
|Ltd.||||
|Benxi Steel (Group) Industrial Development Co.,||||
||Material and parts|24,081,669.68|77,486,410.46|
|Ltd.||||
|Benxi Steel (Group) Construction & Repairing Co.,||||
||Power supply|561,036.72|813,066.96|
|Ltd.||||
|Benxi Steel (Group) Construction & Repairing Co.,||||
||Material and parts||1,379,764.22|
|Ltd.||||
|Benxi Steel (Group) Metallurgy Residues Co., Ltd.|Power supply|2,074,983.11|2,176,229.04|
|Benxi Steel (Group) Metallurgy Residues Co., Ltd.|Material and parts|18,338,528.40|35,000,469.46|
|Benxi Steel (Group) Metallurgy Residues Co., Ltd.|Freight income|2,357.15||
|Benxi Steel (Group) Co., Ltd.|Power supply|33,605,322.93|40,727,759.65|
|Benxi Steel (Group) Co., Ltd.|Material and parts|3,576,864.39|3,897,784.08|
|Benxi Steel New Business Development Co., Ltd.|Power supply|190,128.89|168,285.41|
|Dalian Boluole Steel Tube Ltd.|Products|2,906,516.56|4,367,969.43|
|Liaoning Bengang Steel & Iron Trading Co., Ltd.|Products|339,106,694.32|363,037,262.77|
|Tianjin Bengang Steel Plate Processing and Delivery||||
||Products||57,201,613.95|
|Co., Ltd.||||
|Liaoning Hengtong Metallurgy Equipment Co., Ltd.|Power supply|7,482,560.51|7,291,565.17|
|Liaoning Hengtong Metallurgy Equipment Co., Ltd.|Material and parts|7,225,915.11|8,642,889.67|
|Bengang Group Dahe Industry Co., Ltd.|Power supply|784,414.41|651,359.85|
|Bengang Stainless Cool-rolling (Dandong) Co., Ltd.|Material and parts|1,217,061.50|7,804,683.00|
|Total||1,126,626,603.13|1,909,377,649.88|

 The transaction content and pricing policies are settled in the agreements such as “Raw material and service
rendering agreement” and “Land use right lease contract”.
Bengang Steel Plates Co., Ltd. Interim Report 2015 Full Text It is agreed that the Group shall provide to the Company raw material, supplementary material, supporting services, usage of the trademark and patents, rent and so on; and the Company shall sell the Group product, supplementary material, energy, accessories, waste materials and so on.
The transaction pricing policies are as follows:
(1) The Group shall charge for services provided to the Company in accordance with the following policies: 1. Supply of raw materials
1.1 Fine iron ore
Price of fine iron ore shall not be higher than the average customsC&F price from countries like Brazil and Australia in the last half year plus inland freight, port surcharges, incidental expenses, and quality price adjustment.
Quality Price adjustment shall be based on the weighted average of imported fine iron ore in the last half year and on the basis of 10 Yuan per ton to1% of quality difference.
1.2 Pellet ore
As for the pellet ore provided by the Group, price is determined by the market price.
1.3 Scrap steel
As for the scrap steel provided by the Group, price is based on the weighted average price of purchasing of same quality product from independent third parties by the company in the last month.
1.4 Billet
As for the billet provided by the Group, price of a month is determined by the market price of the same quality products. If there is no market price, price is based on full costs plus the national additional tax. 1.5 Imported fine iron ore
As for the imported fine iron ore provided by Bengang Group Hong Kong Co., Ltd., price is set as the sum of the purchasing price of Bengang Group Hong Kong Co., Ltd. and financial costs shouldered by Bengang Group Hong Kong Co., Ltd. if the Company defers the payment. The price shall not be higher than the sum of average purchasing price of the same quality products and interests of domestic loans in the same period if the Company defers the payment.
2. Supply of supplementary materials and public services
As for the supplementary materials and public services provided by the Group, price is determined by the market price.
3. Supporting services
3.1 Lease of land
As for the land use rights leased from the Group, leasing price is due to the “Land use right lease contract” and supplementary agreement with the Group.
3.2 Lease of 1780mm and 2300mm hot rolling mill production line
As for the 1780mm and 2300mm hot rolling mill production line leased from the Group, price is due to the policies under the “Leasing contract” signed with Benxi Beiying Steel and Iron (Group) Co., Ltd. and the Group respectively.
Bengang Steel Plates Co., Ltd. Interim Report 2015 Full Text 3.3 Transportation service and spare parts
As for the transportation service and the self-processed spare parts provided by the Group, price is determined by the market price.
3.4 Maintenance and repair service of plants and equipment
As for the maintenance and repair of plants and equipment which cannot be completed by the Company, the Group agrees to provide the service, and price is based on difficulty and amount of work.
3.5 Agency service
Before the Company obtains the rights to import and export, the import and export business of the Company is deputized by the Group. The business involved is conducted as normal business practices. The agency fee is due to the specific affair and settled within the range of0.5% to1.5% of the total value of import or export goods.
The Company has the right to inform the Group to terminate the agency relationship after obtaining the rights to import and export. The Group is not the exclusive agency, so the Company has the right to choose an independent third party to complete the agency business.
3.6 Services of which price is determined by the national price
As for the engineering design, heating, copies, newspaper, media and other publications provided by the Group, price is determined by the national price.
3.7 Services of which price is determined by the market price
As for the engineering construction, leasing of education facilities, occupation technology education, and staff training, use of office building, business transportation, property management, packing, and labor protection service provided by the Group, price is determined by the market price.
3.8 Processing service
As for the fee generated from the flattening work of hot rolled plate that entrusted to the Group, price is based on the actual processing costs and shall be approved each year.
As for the fee generated from the processing of part of iron resources that entrusted to the Group, price is based on the actual processing costs and shall be approved each year.
3.9 Steel
As for the steel product (including but not limited to plates, long products and pipes) provided by the Group, price of a month is based on the weighted average selling price of the same quality products to independent third parties by the Group in the last month.
3.10 Trademark
The trademark “Bengang” (Registration ID 149389) was registered by Benxi Steel (Group) Co., Ltd., a wholly-owned subsidiary of the Group, in 1981 at the Trademark Office of the State Administration for Industry and Commerce. The range includes steel, strip steel, metal products, steel wire, steel pipe, steel billet, steel sheet, plate, pig iron, and fine iron ore.
The trademark “Bengang” is permitted free for the Company to use by the Group within the above range. The Company shall not allow others to use it. The Group does not allow any third party to use the trademark on competing products.
Bengang Steel Plates Co., Ltd. Interim Report 2015 Full Text 3.11 Raw material, supplementary material and spare parts
As for the raw material, supplementary material and spare parts purchased by the Group on behalf, price is based on purchasing price of the Group plus0.5% to1.5% of purchasing fee.
3.12 Quality inspection, measurement and weight
As for the quality inspection, measurement and weight which could not be completed by the Company, the Group agrees to provide these services and price is determined by the national price.
3.13 Port charges
As for the port services provided by the Group, fee it is charged based on actual fees such as port surcharges, customs fees, inspection fees plus agency fee. Price of agency fee is 2.5 RMB/t for domestic trade and 1 RMB/t for foreign trade.
(2) The Company shall charge for services provided to the Company Group in accordance with the following policies:
1. Supply of raw material
1.1 Hot rolled sheet and cold rolled products
As for the hot rolled sheet and cold rolled products provided to the Group, price of a month is determined by the weighted average price of selling goods with same quality to third parties in the last month.
1.2 Coke, pellet and chemical products
As for the coke, pellet and chemical products produced by the Company, price is determined by the market price.
1.3Billet
As for the billet provided to the Group, price of a month is determined by the market price of same quality product. If there is no market price, price is based on full costs plus the national additional tax.
1.4 Steel making slag and iron making slag (water slag)
As for the steel making slag and iron making slag (water slag) provided to the Group, the Group is responsible for the disposal, and price is determined by the market price.
2. Public services
As for the public services provided to the Group such as the oxygen, nitrogen, argon, blast furnacegas、 converter gas, COG, stream, purified water, new water, central water, soft water, telephone and so on, price is based on full costs plus the national additional tax and rational profit.
As for the electricity provided to the Group, price is based on the national price plus the transfer-in costs of the electricity.
3. Supporting services
3.1 Services of which price is determined by the national price
As for the railway transportation quality inspection, measurement and weight, and research and development service provided to the Group, price is determined by the national price.
3.2 Raw material, supplementary material and, spare parts
Bengang Steel Plates Co., Ltd. Interim Report 2015 Full Text As for the raw material, supplementary material and spare parts purchased by the Company on behalf, price is based on purchasing price of the Company plus0.5% to1.5% of purchasing fee.
(2) Lease information of related parties
Company as the lessor (In Yuan)
||||||||
|-|-|-|-|-|-|-|
|||||||Gains from|
|||Nature of the||||leasing or|
|Name of the|Name of the||||||
|||asset to be|Start date|Terminating date|Pricing basis|contracting|
|employer|undertaker||||||
|||undertaken||||recognized this|
|||||||period|

 Statement on the trusteeship and contracting:
Company as the lessee
In RMB
||||||||
|-|-|-|-|-|-|-|
|||||||Expenses of|
|||||||leasing or|
|Name of the|Name of the|Category of asset|||||
||||Start date|End date|Pricing basis|contracting|
|employer|undertaker|leased out|||||
|||||||recognized this|
|||||||period|

 Remarks on related contracting
(3) Related leasing
Company as the lessor
In RMB
|||||
|-|-|-|-|
|||Rental income recognized this|Rental income recognized|
|Name of the tenant|Category of asset for rent|||
|||period|previous period|
|Benxi Steel (Group) Steel||||
||Warehouse and auxiliary|500,000.00|975,500.00|
|Process and Logistics Co., Ltd.||||

Company as the lessee
In RMB
|||||
|-|-|-|-|
||||Rental expense recognized last|
|Name of the owner|Category of asset for rent|Rental recognized this period||
||||period|
|Benxi Steel (Group) Co., Ltd.|2300 hot rolling line|120,000,000.00|180,000,000.00|
|Benxi Steel (Group) Co., Ltd.|Land using right|28,713,000.00|28,713,000.00|

Bengang Steel Plates Co., Ltd. Interim Report 2015 Full Text
|||||
|-|-|-|-|
|Benxi Beiying Steel & Iron||||
||1780 hot-rolling line|65,949,367.29|65,956,008.06|
|(Group) Co., Ltd.||||

Statement on related leasing
(1)()2300,20151120171231:,3.5
(2)(),2009415,7,669,068.17,0.624,5,742.60
(3)()1780,20141120161231:,1.5
(4) Related guarantees
Company as the provider
In RMB
||||||
|-|-|-|-|-|
|Beneficiary|Amount guaranteed|Start date|Due date|Completed or not|

 The Company as the provider
In RMB
||||||
|-|-|-|-|-|
|The provider|Amount guaranteed|Start date|Due date|Completed or not|
|Benxi Steel (Group) Co., Ltd.|14,402,481.85|Sept 10 1997|Sept 10 2027|No|
|Bengang Group Co., Ltd.|15,000,000.00|Dec 29 2014|Mar 21 2017|No|
|Bengang Group Co., Ltd.|87,000,000.00|Mar 26 2015|Mar 21 2019|No|
|Bengang Group Co., Ltd.|100,000,000.00|Jun 25 2015|Sept 21 2021|No|
|Benxi Steel (Group) Co., Ltd.|611,360,000.00|Aug 20 2014|Mar 13 2016|No|
|Bengang Group Co., Ltd.|90,000,000.00|Dec 21 2012|Nov 20 2015|No|
|Benxi Steel (Group) Co., Ltd.|83,000,000.00|Dec 28, 2012|Sept 20 2015|No|
|Benxi Steel (Group) Co., Ltd.|250,000,000.00|Nov 10 2014|Nov 9 2015|No|
|Benxi Steel (Group) Co., Ltd.|200,000,000.00|Dec 19 2014|Dec 18 2015|No|
|Benxi Steel (Group) Co., Ltd.|100,000,000.00|Jul 18 2014|Jul 17 2015|No|
|Benxi Steel (Group) Co., Ltd.|200,000,000.00|July 30, 2014|Jul 29 2015|No|
|Benxi Steel (Group) Co., Ltd.|80,000,000.00|Dec 25 2014|Dec 24 2015|No|
|Benxi Steel (Group) Co., Ltd.|200,000,000.00|Dec 12 2014|Dec 10 2015|No|
|Bengang Group Co., Ltd.|100,000,000.00|Sept 30 2014|Sept 30 2015|No|
|Bengang Group Co., Ltd.|200,000,000.00|Sept 30 2014|Sept 30 2015|No|
|Bengang Group Co., Ltd.|250,000,000.00|Jan 9 2015|Jan 9 2016|No|
|Bengang Group Co., Ltd.|200,000,000.00|May 28 2015|May 28 2016|No|
|Bengang Group Co., Ltd.|200,000,000.00|Jan 23 2015|Jan 23 2016|No|
|Bengang Group Co., Ltd.|45,000,000.00|Sept 16 2014|Sept 15 2015|No|
|Bengang Group Co., Ltd.|130,000,000.00|June 30, 2015|Jun 28 2016|No|
|Bengang Group Co., Ltd.|130,000,000.00|June 30, 2015|Jun 29 2016|No|
|Bengang Group Co., Ltd.|140,000,000.00|May 15 2015|May 15 2016|No|
|Bengang Group Co., Ltd.|200,000,000.00|May 14 2015|May 14 2016|No|
|Bengang Group Co., Ltd.|160,000,000.00|May 14 2015|May 14 2016|No|
|Bengang Group Co., Ltd.|611,360,000.00|Aug 27 2014|Aug 21 2015|No|
|Bengang Group Co., Ltd.|489,088,000.00|Mar 26 2015|Mar 25 2016|No|
|Bengang Group Co., Ltd.|91,704,000.00|Apr 28 2015|Apr 21 2016|No|
|Bengang Group Co., Ltd.|489,088,000.00|Jun 29 2015|Jun 23 2016|No|
|Bengang Group Co., Ltd.|305,680,000.00|July 24, 2014|Jul 23 2015|No|
|Bengang Group Co., Ltd.|305,680,000.00|July 24, 2014|Jul 23 2015|No|
|Bengang Group Co., Ltd.|122,272,000.00|Nov 20, 2014|Nov 12 2015|No|
|Benxi Steel (Group) Co., Ltd.|550,224,000.00|May 14 2015|May 13 2016|No|
|Benxi Steel (Group) Co., Ltd.|605,246,400.00|May 14 2015|May 13 2016|No|
|Benxi Steel (Group) Co., Ltd.|917,040,000.00|May 15 2015|May 14 2016|No|
|Benxi Steel (Group) Co., Ltd.|152,840,000.00|Mar 27 2015|Sept 23 2015|No|
|Benxi Steel (Group) Co., Ltd.|244,544,000.00|March 31, 2015|Sept 25 2015|No|
|Benxi Steel (Group) Co., Ltd.|122,272,000.00|Mar 27 2015|Sept 23 2015|No|
|Benxi Steel (Group) Co., Ltd.|189,516,752.65|Mar 16 2015|Sept 11 2015|No|
|Benxi Steel (Group) Co., Ltd.|195,635,200.00|Mar 20 2015|Sept 16 2015|No|

Bengang Steel Plates Co., Ltd. Interim Report 2015 Full Text
||||||
|-|-|-|-|-|
|Benxi Steel (Group) Co., Ltd.|200,000,000.00|July 30, 2014|Jul 29 2015|No|
|Benxi Steel (Group) Co., Ltd.|100,000,000.00|Oct 21 2014|Oct 20 2015|No|
|Benxi Steel (Group) Co., Ltd.|100,000,000.00|Feb 10 2015|Jan 27 2016|No|
|Benxi Steel (Group) Co., Ltd.|200,000,000.00|June 30, 2015|Jun 29 2016|No|
|Bengang Group Co., Ltd.|300,000,000.00|July 31, 2014|July 31 2015|No|
|Bengang Group Co., Ltd.|220,000,000.00|Oct 31 2014|Oct 31 2015|No|
|Bengang Group Co., Ltd.|180,000,000.00|Sept 10 1997|Nov 4 2015|No|

Statement on related guarantees
(5) Capital borrowing with related parties
In RMB
||||||
|-|-|-|-|-|
|Related parties|Amount of demolition|Start date|Expired on|Remarks|
|Borrow in|||||
|Benxi Steel (Group) Co.,|||||
||12,606,580.62|Sept 9 2014|Sept 8 2015||
|Ltd.|||||
|Benxi Steel (Group) Co.,|||||
||17,974,579.02|Oct 13 2014|Oct 12, 2015||
|Ltd.|||||
|Benxi Steel (Group) Co.,|||||
||20,772,574.58|November 07, 2014|Nov 6 2015||
|Ltd.|||||
|Benxi Steel (Group) Co.,|||||
||13,411,173.71|December 26, 2014|Dec 25 2015||
|Ltd.|||||
|Benxi Steel (Group) Co.,|||||
||18,263,032.96|Apr 28 2015|Apr 27 2016||
|Ltd.|||||
|Benxi Steel (Group) Co.,|||||
||11,369,384.16|Jun 4 2015|Jun 3 2016||
|Ltd.|||||
|Lend out|||||

(6) Asset transferring and debt reconstruction with related parties
In RMB
|||||
|-|-|-|-|
||Subjects of the relatedtransactions|||
|Related parties||Occurred current term|Occurred in previous term|

(7) Remuneration for key management
In RMB
||||
|-|-|-|
|Items|Occurred current term|Occurred in previous term|

 (8) Other related transactions
Bengang Steel Plates Co., Ltd. Interim Report 2015 Full Text 6. Receivable and payables due with related parties
(1) Account receivable
In RMB
|||||||
|-|-|-|-|-|-|
|||Closing balance||Opening balance||
|Projects|Related parties||Bad debt||Bad debt|
|||Book balance||Book balance||
||||provision||provision|
|Account receivable||||||
||Benxi Beiying Steel & Iron (Group) Co.,|||||
|||||0.00|0.00|
||Ltd.|||||
||Bengang Electronics Co., Ltd.|2,724,127.51|137,573.58|2,832,523.83|137,573.58|
||Benxi Steel (Group) Machinery Co., Ltd.|19,525,810.80|406,446.86|24,275,958.45|406,446.86|
||Benxi Steel (Group) Construction Co., Ltd.|15,753,857.13|2,536,224.36|34,403,576.39|4,618,071.06|
||Benxi Steel (Group) Industrial Development|||||
|||21,091,628.72|26,327.90|32,701,472.77|26,327.90|
||Co., Ltd.|||||
||Benxi Steel New Business Development Co.,|||||
|||3,315,529.21|2,624,507.53|5,307,512.50|2,624,507.53|
||Ltd.|||||
||Benxi Steel (Group) Medical Co. Ltd.|||||
||Benxi Steel (Group) Thermal Power|||||
|||2,123,092.33||1,899,538.46||
||Development Co., Ltd.|||||
||Benxi Steel (Group) Steel Process and|||||
|||475,500.00||499,126.96||
||Logistics Co., Ltd.|||||
||Bengang Stainless Cool-rolling (Dandong)|||||
|||1,423,961.96||1,472,716.21||
||Co., Ltd.|||||
||Liaoning Hengtong Metallurgy Equipment|||||
|||16,234,400.77||23,474,655.50||
||Co., Ltd.|||||
||Bengang Group International Trading Ltd.|||||
|Sub-total||82,667,908.43|5,731,080.23|126,867,081.07|7,812,926.93|
|Prepayments||||||
||Benxi Beiying Steel & Iron (Group) Co.,|||||
|||373,358,521.45||439,245,300.00||
||Ltd.|||||
||Benxi Steel (Group) Construction &|||||
||Repairing Co., Ltd.|||||
||Liaoning Hengtai Heavy Machine Co., Ltd.|54,080,821.13||62,303,551.36||
||Benxi Steel (Group) Machinery Co., Ltd.|27,324,685.86||25,526,881.70||
||Bengang Group International Trading Ltd.|83,135,289.41||108,915,901.27||
||Bengang Stainless Cool-rolling (Dandong)|||||
|||||161,293.67||
||Co., Ltd.|||||
||Benxi Steel & Iron (Group) Zhengtai|||||
||Construction Materials Co., Ltd.|||||
|Sub-total||537,899,317.85||636,152,928.00||
|Other account||||||
|receivable||||||
||Benxi Steel (Group) Real-estate|||||
|||1,247,843.52||7,632,946.72|191,498.33|
||Development Co., Ltd.|||||
||Benxi Steel (Group) Construction &|||||
||Repairing Co., Ltd.|||||
||Liaoning Metallurgy Technician College|30,722.17|15,612.26|156,265.86|15,612.26|
||Benxi Steel (Group) Machinery Co., Ltd.|160,615.64||239,275.00||
||Bengang Stainless Cool-rolling (Dandong)|||||
||Co., Ltd.|||||
||Benxi Steel (Group) Construction Co., Ltd.|775,086.02|775,086.02|881,046.71|873,336.57|
||Bengang Group International Trading Ltd.|1,859,874.16||5,206,671.93|6,717.52|
||Benxi Steel (Group) Industrial Development|||||
|||782,241.24|56,594.36|1,110,481.08|56,594.36|
||Co., Ltd.|||||
||Benxi Steel & Iron (Group) Zhengtai|||||
|||13,185.57|6,606.76|200,111.37|6,606.76|
||Construction Materials Co., Ltd.|||||
||Benxi Steel (Group) Medical Co. Ltd.|833,513.56|528,954.42|924,587.78|528,954.42|
|Sub-total||5,703,081.88|1,382,853.81|16,351,386.45|1,679,320.21|

Bengang Steel Plates Co., Ltd. Interim Report 2015 Full Text (2) Payable accounts
In RMB
|||||
|-|-|-|-|
|||Closing balance of book|Opening balance of book|
|Projects|Related parties|||
|||value|value|
|Account payable||||
||Benxi Beiying Steel & Iron (Group) Co., Ltd.|120,272,362.94|145,203,134.23|
||Bengang Electronics Co., Ltd.|7,051,786.66|11,639,049.30|
||Benxi Steel (Group) Real-estate Development Co., Ltd.|1,369,924.74|2,017,985.89|
||Bengang Group International Trading Ltd.|3,019,308,013.20|4,169,986,544.24|
||Benxi Steel (Group) Machinery Co., Ltd.|6,204,813.30|7,050,135.96|
||Benxi Steel (Group) Construction Co., Ltd.|76,829,057.83|150,369,442.01|
||Benxi Steel (Group) Mining Co., Ltd.|878,076,006.90|1,412,235,381.68|
||Benxi Steel (Group) Industrial Development Co., Ltd.|50,109,114.52|41,805,616.64|
||Benxi Steel New Business Development Co., Ltd.|10,083,078.60|19,708,255.84|
||Benxi Steel (Group) Construction & Repairing Co., Ltd.|59,128,736.52|84,945,497.19|
||Benxi Steel (Group) Designing Institute|3,969,024.41|6,820,799.97|
||Benxi Steel (Group) Metallurgy Residues Co., Ltd.|80,259,031.28|24,273,907.10|
||Benxi Steel (Group) Medical Co. Ltd.|69,440.35|20,440.35|
||Benxi Steel (Group) Information & Automatic Tech.|||
|||47,338,679.30|49,194,667.86|
||Co., Ltd.|||
||Benxi Steel (Group) Drilling Tools Co., Ltd.|304,741.29|257,832.31|
||Liaoning Metallurgy Technician College|7,636,725.41|6,378,792.36|
||Liaoning Bengang Steel & Iron Trading Co., Ltd.|900,000.00|30,000,000.00|
||Benxi Steel (Group) Thermal Power Development Co.,|||
|||278,349.79|148,068.39|
||Ltd.|||
||Benxi Steel & Iron (Group) Zhengtai Construction|||
|||186,000.00|380,918.20|
||Materials Co., Ltd.|||
||Liaoning Hengtong Metallurgy Equipment Co., Ltd.|7,413,327.13|0.00|
||Liaoning College of Metallurgy Technologies|341,534.17|2,004,256.02|
||Bengang Stainless Cool-rolling (Dandong) Co., Ltd.|713,487.81|863,535.50|
||Liaoning Hengtai Heavy Machine Co., Ltd.|6,316,142.17|7,153,224.06|
|Sub-total||4,384,159,378.32|6,172,457,485.10|
|Notes payable||||
||Benxi Steel (Group) Industrial Development Co., Ltd.|2,118,747.52|1,813,417.63|
||Benxi Steel (Group) Machinery Co., Ltd.|59,998.75||
||Benxi Steel (Group) Real-estate Development Co., Ltd.|||
||Bengang Electronics Co., Ltd.|1,035,354.77|401,369.25|
||Benxi Steel (Group) Construction & Repairing Co., Ltd.|||
||Liaoning Metallurgy Technician College||51,601.41|
||Benxi Steel (Group) Mining Co., Ltd.|284,613,309.65|46,465,334.09|
||Benxi Steel (Group) Construction Co., Ltd.|1,348,030.74|562,465.47|
||Benxi Steel (Group) Information & Automatic Tech.|||
||||477,255.62|
||Co., Ltd.|||
|Sub-total||289,175,441.43|49,771,443.47|
|Other account||||
|payable||||
||Bengang Electronics Co., Ltd.|||
||Benxi Steel (Group) Real-estate Development Co., Ltd.|2,311,747.28|4,887,294.88|
||Bengang Group International Trading Ltd.|2,527,907.53|3,067,964.46|
||Benxi Steel (Group) Machinery Co., Ltd.|79,527.28|10,082.30|
||Benxi Steel (Group) Construction Co., Ltd.|3,139,624.36|4,292,774.73|
||Benxi Steel (Group) Industrial Development Co., Ltd.|554,634.42|950,411.36|
||Benxi Steel New Business Development Co., Ltd.|1,068,924.26|846,071.42|
||Benxi Steel (Group) Construction & Repairing Co., Ltd.||0.00|
||Benxi Steel (Group) Metallurgy Residues Co., Ltd.||0.00|
||Benxi Steel (Group) Medical Co. Ltd.|184,792.14|174,219.95|
||Benxi Steel (Group) Information & Automatic Tech.|||
|||267,349.36|105,000.00|
||Co., Ltd.|||
||Benxi Steel (Group) Steel Process and Logistics Co.,|||
|||4,206,349.47|3,277,425.46|
||Ltd.|||
||Benxi Steel (Group) Co., Ltd.|103,313,915.01|158,643,367.61|
||Benxi Steel & Iron Group Ltd. News Center|475,523.45|1,722,726.76|

Bengang Steel Plates Co., Ltd. Interim Report 2015 Full Text
|||||
|-|-|-|-|
||Liaoning Hengtai Heavy Machine Co., Ltd.||0.00|
||Benxi Beiying Steel & Iron Group Import & Export|||
||||1,779,806.08|
||Co., Ltd.|||
||Benxi Steel (Group) Thermal Power Development Co.,|||
|||759,523.36|0.00|
||Ltd.|||
||Guangshou Free Trade Zone Bengang Sales Co., Ltd.|2,674,436.85|2,674,436.85|
||Shanghai Bengang Steel Sales Ltd.|863,797.83|863,797.83|
||Bengang Stainless Cool-rolling (Dandong) Co., Ltd.|96,596.40|96,596.40|
|Sub-total||122,524,649.00|183,391,976.09|
|Advances received||||
||Benxi Steel (Group) Machinery Co., Ltd.|554,637.49|392,380.53|
||Tianjin Bengang Longxing Steel Processing Co., Ltd.|||
||Benxi Steel (Group) Industrial Development Co., Ltd.|1,544,247.68|1,800,534.80|
||Benxi Steel (Group) Metallurgy Residues Co., Ltd.|158,813.08|548,762.37|
||Benxi Steel (Group) Steel Process and Logistics Co.,|||
|||91,677,316.57|96,764,509.78|
||Ltd.|||
||Dalian Boluole Steel Tube Ltd.|1,119,432.68|1,838,120.74|
||Liaoning Bengang Steel & Iron Trading Co., Ltd.|20,709,190.50|22,728,533.19|
||Liaoning Hengtong Metallurgy Equipment Co., Ltd.|40,421.07|323,523.72|
||Tianjin Bengang Steel Plate Processing and Delivery|||
||Co., Ltd.|||
||Liaoning Hengtai Heavy Machine Co., Ltd.|184,695.93|184,695.93|
||Benxi Steel (Group) Thermal Power Development Co.,|||
|||39,725.74|3,100,209.92|
||Ltd.|||
||Bengang Group International Trading Ltd.|14,445,427.32|46,086,929.33|
||Suzhou Bengang Industrial Co., Ltd.|19,281,728.07|37,105,578.38|
|Sub-total||149,755,636.13|210,873,778.69|

 7. Commitment of related parties
8. Others
XI. Share payment
1. Overall situation of share payment
[] Applicable;[V] Not applicable
2. Share payment settled in term of equity
[] Applicable;[V] Not applicable
3. Share payment settled by cash
[] Applicable;[V] Not applicable
4. Revising and termination of share payment
Bengang Steel Plates Co., Ltd. Interim Report 2015 Full Text 5. Others
XII. Commitment and contingencies
(1) Commitments
1. Investment contracts not yet performed or in progress and their relevant financial expenditures
As at June 30 2015, the Company has signed but not yet performed contracts amounting to RMB164.332 million for the infrastructure construction and purchasing of equipment; and contracts performed but still in progress amounting to RMB 1145.7786 million.
2. Lease contracts in progress or to be performed and their financial impacts
(1) For the land leased from the Company to the Group, price is RMB 0.624 per Square meter per month, and the area of the land is 7,669,068.17 square meters; hence annual rent is RMB 57.426 million.
(2) For the 2300 hot rolling product line leased from the Group to the Company, lease period lasts from 1 January 2015 to 31 December 2017. Lease charges are negotiated between the lessor and the lessee based on the original cost, depreciation, and national taxation of the product line, with consideration of conditions of production and equipment performance. The annual rent shall not exceed RMB 350,000,000.00 per year.
(3) For the 1780 hot rolling product line leased from Benxi Beiying Steel& Iron (Group) Co., Ltd. to the Company, the lease period lasts from 1 January 2014 to 31 December 2016. Lease charges are negotiated between the lessor and the lessee based on the original cost, depreciation, and national taxation of the product line, with consideration of conditions of production and equipment performance. The annual rent shall not exceed RMB 150,000,000.00.
For details of above leasing conditions please refer to Note 9 (4) 2.
(2) Contingency
At the balance sheet date, no significant contingencies need to be disclosed.
XIII. Post Balance Sheet Issues
(I) Profit distribution
The 12th meeting of the 6th term of Board was held on April 20, 2015. Basing on the total capital shares of 3,136,000,000 at end of 2014, RMB0.5 were to be distributed to each 10 shares. Totally RMB156,800,000.00 were to be distributed.
This plan was approved by theShareholders‟ Meeting 2014 held on May 21, 2015. Implementation announcement was released by the Board on July 3, 2014. The registration date for A shares was July 9 2014, ex-dividend date was July 10, 2014; and the registration date for B shares was July 9, 2014, and ex-dividend date was July 14, 2014. The dividend plan had already been completed as of the date of this report.
(II) Statement on material post-balance-sheet events
On July 20, 2015, the Proposal of Private Issuing of A shares was approved at the 14th meeting of the 6th term of Board. New
Bengang Steel Plates Co., Ltd. Interim Report 2015 Full Text shares will be issued to particular subscribers privately to raise RMB4 billion of capital. The fund will mainly be used in reconstruction of cool-rolled high strength steel, hot galvanizing line project, and repaying of bank loans.
XIV. Other material events
1. Correction of accounting errors in previous period
(1) Retrospective restatement
In RMB
|||||
|-|-|-|-|
|Corrections made on accounting||Title of accounts of related|Accumulative amount of|
||Procedures|||
|errors||periods influenced|influence|

(2) Future adoption method
||||
|-|-|-|
|||Reason of adopting future adoption|
|Corrections made on accounting errors|Approval procedures||
|||method|

2. Debt reconstruction
3. Asset replacing
(1) Non-monetary asset exchange
(2) Other asset exchange
4. Annual premium scheme
5. Termination of operation
In RMB
||||||||
|-|-|-|-|-|-|-|
|||||||Termination|
|||||Income tax||profit attributable|
|Items|Revenue|Expenses|Total profit||Net profit||
|||||expenses||to owners of|
|||||||parent co.|

 Other statements
Bengang Steel Plates Co., Ltd. Interim Report 2015 Full Text 6. Segment info
(1) Basis of segment recognizing and accounting policies
(2) Financial info of segments
In RMB
||||
|-|-|-|
|Items|Neutralized among segments|Total|

(3) Statement about why the Company is not reporting segment info or total asset and liabilities of segments
(4) Other remarks
7. Material trade or issues commit impact on decision of investors
8. Others
XV. Notes to the Financial Statements of the Parent Company
1. Account receivable
(1) Categorized receivable accounts
In RMB
||||||||||||
|-|-|-|-|-|-|-|-|-|-|-|
||Closing balance|||||Opening balance|||||
||Book balance||Bad debt provision|||Book balance||Bad debt provision|||
|Categories|||||Book||||||
|||Proportio|||||Proportio|||Book value|
||Amount||Amount|Rate|value|Amount||Amount|Rate||
|||n|||||n||||
|Receivables on|||||||||||
|which impairment|||||||||||
||1,055,08||136,238,||918,847,1|529,111||140,268,8||388,842,19|
|provisions are||100.00%||12.91%|||100.00%||26.51%||
||5,718.14||580.22||37.92|,083.61||88.98||4.63|
|provided by risk|||||||||||
|groups|||||||||||
||1,055,08||136,238,||918,847,137.92|529,111||140,268,8||388,842,194.63|
|Total||100.00%||12.91%|||100.00%||26.51%||
||5,718.14||580.22|||,083.61||88.98|||

 Receivables of insignificant items but tested for impairment individually
[] Applicable;[V] Not applicable
Account receivables on which bad debt provisions are provided on age basis in the group:
[V] ApplicableNot applicable
In RMB
|||
|-|-|
|Age|Closing balance|

Bengang Steel Plates Co., Ltd. Interim Report 2015 Full Text
|||||
|-|-|-|-|
||Account receivable|Bad debt provision|Rate|
|1年以内分项||||
|Within 1 yr, (included)|835,205,495.48|||
|Subtotal of within 1 year|835,205,495.48|||
|1-2 years|62,163,386.45|3,108,169.32|5.00%|
|2-3 years|30,733,031.64|6,146,606.33|20.00%|
|Over 3 yrs|126,983,804.57|126,983,804.57|100.00%|
|Total|1,055,085,718.14|136,238,580.22|12.91%|

 Receivable accounts on which bad debt provisions are provided on percentage analyze basis in a portfolio
[] Applicable;[V] Not applicable
Receivable accounts on which bad debt provisions are provided by other ways in the portfolio
(2) Information of provision, reversal or recovery of bad debts of current period.
Bad debt provision provided this period was RMB0.00. Bad debt provision written back was RMB4,030,308.76 in the period. Significant items of retrieving or writing back of bad debt provisions:
In RMB
||||
|-|-|-|
|Name of the companies|Amount retreived or written back|Way of retreiving|

(3) Particular about writing off actually made in the period
In RMB
|||
|-|-|
|Items|Amount written off|

Significant amount written off:
In RMB
|||||||
|-|-|-|-|-|-|
|Name of the|Property of the||Reason of writing|Written off|Created by related|
|||Amount written off||||
|companies|receivable account||off|procedures|transaction or not|

 Statement on writing off of receivable accounts.
(4) Top 5 debtors in the receivable accounts
|||
|-|-|
||(%)|
|631,513,712.96|59.85|
|47,889,868.98|4.54|

Bengang Steel Plates Co., Ltd. Interim Report 2015 Full Text
||||
|-|-|-|
||29,738,912.85|2.82|
|()|21,091,628.72|2|
|()|19,525,810.80|1.85|
||749,759,934.31|71.06|

(5) Receivable accounts unrecognized due to disposal of financial assets
(6) Asset or liability constituted by transferring and continuous involving of receivable accounts
Remarks:
2. Other account receivable.
(1) Other receivables disclosed by category
In RMB
||||||||||||
|-|-|-|-|-|-|-|-|-|-|-|
||Closing balance|||||Opening balance|||||
||Book balance||Bad debt provision|||Book balance||Bad debt provision|||
|Categories|||||Book||||||
|||Proportio|||||Proportio|||Book value|
||Amount||Amount|Rate|value|Amount||Amount|Rate||
|||n|||||n||||
|Other receivables on|||||||||||
|which impairment|||||||||||
||322,204,||56,282,8||265,921,7|359,158||58,276,86||300,882,01|
|provisions are||99.46%||17.47%|||99.52%||16.23%||
||615.85||73.92||41.93|,877.19||3.66||3.53|
|provided by risk|||||||||||
|groups|||||||||||
|Other insignificant|||||||||||
|items but tested for|1,740,00||||1,740,000|1,740,0||||1,740,000.0|
|||0.54%|||||0.48%||||
|impairment|0.00||||.00|00.00||||0|
|individually|||||||||||
||323,944,||56,282,8||267,661,741.93|360,898||58,276,86||302,622,013.53|
|Total||100.00%||17.37%|||100.00%||16.15%||
||615.85||73.92|||,877.19||3.66|||

 Other receivable accounts with large amount and were provided bad debt provisions individually at end of period.
[] Applicable;[V] Not applicable
Other account receivables on which bad debt provisions are provided on age basis in the group:
[V] ApplicableNot applicable
Bengang Steel Plates Co., Ltd. Interim Report 2015 Full Text In RMB
|||||
|-|-|-|-|
||Closing balance|||
|Age||||
||Other account receivable|Bad debt provision|Rate|
|Segments within 1 year||||
|Within 1 yr, (included)|261,287,089.82|||
|Subtotal of within 1 year|261,287,089.82|||
|1-2 years|3,264,273.80|163,213.69|5.00%|
|2-3 years|4,091,990.00|818,398.00|20.00%|
|Over 3 yrs|55,301,262.23|55,301,262.23|100.00%|
|Total|323,944,615.85|58,276,863.66|17.99%|

 Opening balance
|||||
|-|-|-|-|
|Carrying amount||Provision for bad debts||
|Amount|Percentage(%)|Amount|Bad debtsratio (%)|
|359,158,877.19|99.52|58,276,863.66|16.23|
|359,158,877.19|99.52|58,276,863.66|16.23|
|359,158,877.19|99.52|58,276,863.66|16.23|
|1,740,000.00|0.48|||
|360,898,877.19|100.00|58,276,863.66|16.15|

 Other receivables individually insignificant but tested for impairment individually
||||
|-|-|-|
|Carrying Amount|Provision forbad debts|Bad debts ratio (%)|
|1,740,000.00|||
|1,740,000.00|||

Notes: The Sinking Fund of Japanese yen from Finance Bureau of Benxi is the margin for JPY loans of which the aging is over 3 years and no bad debts provision has been made for it.
Bengang Steel Plates Co., Ltd. Interim Report 2015 Full Text Other receivables tested for impairment by portfolio using the method of Aginganalysis：
Ending balance
Items
|||
|-|-|
|261,287,089.82||
|3,264,273.80|163,213.69|
|4,091,990.00|818,398.00|
|55,301,262.23|55,301,262.23|
|323,944,615.85|58,276,863.66|

 (2) Information of provision, reversal or recovery of bad debts of current period.
Reversal of bad debts for other receivable in current period is RMB 1,993,989.74.
(3) No other receivables have been written off this year.
(4) Other receivables disclosed by nature
In RMB
||||
|-|-|-|
|Account property|Closing balance of book value|Opening balance of book value|
|Trade|274,786,980.82|225,819,363.05|
|Export tax refund|42,558,816.25|130,788,172.89|
|Others|6,598,818.78|4,291,341.25|
|Total|323,944,615.85|360,898,877.19|

 (5) Top five debtors at the year-end
In RMB
|||||||
|-|-|-|-|-|-|
|Name of the||||Percentage of total|Provision for|
||Nature of account|Closing balance|Age|||
|companies||||other receivables|bad debts|
|Tax bureau|Export tax refund|42,558,816.25|within 1 yr|13.14%||
|Shenyang Coke Coal||||||
||Current account|15,000,000.00|within 1 yr|4.63%||
|Co., Ltd. Sales Co.||||||
|Liaoning Shenjiao||||||
|International Trade|Current account|10,000,000.00|within 1 yr|3.09%||
|Co., Ltd.||||||
|Nanjing Dongda|Current account|10,000,000.00|within 1 yr|3.09%||

Bengang Steel Plates Co., Ltd. Interim Report 2015 Full Text
||||||
|-|-|-|-|-|
|Energy Engineering|||||
|Institute|||||
|Benxi Juyuan Slag|||||
|and Furnance Burden|Trade|6,911,609.00|within 1 yr|2.13%|
|Co., Ltd.|||||
|Total|--|84,470,425.25|--|26.08%|

3. Long-term equity investment
In RMB
||||||||
|-|-|-|-|-|-|-|
||Closing balance|||Opening balance|||
|Items||Impairment|||Impairmentprovision||
||Book balance||Book value|Book balance||Book value|
|||provision|||||
|Investment onsubsidiaries|||||||
||1,690,981,902.16||1,690,981,902.16|1,690,981,902.16||1,690,981,902.16|
|Total|1,690,981,902.16||1,690,981,902.16|1,690,981,902.16||1,690,981,902.16|

 (1) Investment on subsidiaries
In RMB
||||||||
|-|-|-|-|-|-|-|
||||||Impairment||
|Company invested||Increased this|Decreased this||||
||Opening balance|||Closing balance|provision|Ending balance of|
|in||period|period|||impairment|
||||||provided this term||
|Guangzhou|||||||
|Bengang Trade|1,000,000.00|||1,000,000.00|||
|Co., Ltd.|||||||
|Shanghai Bengang|||||||
|Metallurgy Tech.|19,200,000.00|||19,200,000.00|||
|Ltd.|||||||
|Bengang Steel|||||||
|Plate Liaoyang|529,899,801.38|||529,899,801.38|||
|Orel Ball Co., Ltd.|||||||
|Dalian Benruitong|||||||
|Automobile|||||||
|Material|65,000,000.00|||65,000,000.00|||
|Technologies Co.,|||||||
|Ltd.|||||||
|Bengang Puxiang|||||||
||1,019,781,571.10|||1,019,781,571.10|||
|Cool Rolling Steel|||||||

Bengang Steel Plates Co., Ltd. Interim Report 2015 Full Text
||||
|-|-|-|
|Sheet Co., Ltd.|||
|Changchun|||
|Bengang Steel|-1,355,124.64|-1,355,124.64|
|Sales Ltd.|||
|Haerbin Bengang|||
|International|423,398.23|423,398.23|
|Trading Ltd.|||
|Nanjing Bengang|||
|Steel Material|2,081,400.65|2,081,400.65|
|Sales Ltd.|||
|Wuxi Bengang|||
||936,718.57|936,718.57|
|Steel Sales Ltd.|||
|Xiamen Bengang|||
||1,095,711.66|1,095,711.66|
|Steel Sales Ltd.|||
|Yantai Bengang|||
||19,600,329.41|19,600,329.41|
|Steel Sales Ltd.|||
|Tianjin Bengang|||
||33,318,095.80|33,318,095.80|
|Steel Trading Ltd.|||
|Total|1,690,981,902.16|1,690,981,902.16|

4. Operation income and operation cost
In RMB
||||||
|-|-|-|-|-|
||Occurred current term||Occurred in previous term||
|Items|||||
||Revenue|Cost|Revenue|Cost|
|Major business|15,855,226,396.28|14,804,473,955.02|19,320,232,643.54|18,119,383,979.86|
|Other business|1,364,397,276.16|1,239,113,720.27|1,467,421,157.22|1,324,796,884.19|
|Total|17,219,623,672.44|16,043,587,675.29|20,787,653,800.76|19,444,180,864.05|

 Remarks:
5. Investment income
In RMB
||||
|-|-|-|
|Items|Occurred current term|Occurred in previous term|
|Gains from short-term bank financial|||
||6,584,315.11|12,378,753.42|
|instruments|||
|Total|6,584,315.11|12,378,753.42|

Bengang Steel Plates Co., Ltd. Interim Report 2015 Full Text 6. Others
XVI. Supplementary Information
1. Details of non-recurring gain/loss of the term
[V] Applicable[]Not applicable
In RMB
||||
|-|-|-|
|Items|Amount|Remarks|
|Gain/loss of non-current assets|-17,733,564.05||
|Gains and losses included in the current|||
|period of government subsidies, excluding|||
|those government grants which are closely|||
||31,328,000.00||
|related to normal business and in line with|||
|national policy , or in accordance with fixed|||
|standards or quantities|||
|Gain/loss from commissioned investment or|||
||6,584,315.11||
|assets|||
|Gain/loss from debt reorganization|6,439,698.87||
|Other non-business income and expenditures|||
||1,527,544.44||
|other than the above|||
|Less: Influenced amount of income tax|5,390,419.82||
|Influenced amount of minority|||
||29,697.05||
|shareholders’ equity|||
|Total|22,725,877.50|--|

2. Net income on asset ratio and earning per share
|||||
|-|-|-|-|
|||Earnings per share||
|Profit of the report period|Net income on asset, weighted|Basic earnings per share|Diluted earnings per|
|||(Yuan/share)|share (Yuan/share)|
|Net profit attributable to common||0.04|0.04|
||0.83%|||
|shareholders of the Company||||
|Net profit attributable to the||||
|common owners of the PLC after||||
||0.68%|0.03|0.03|
|deducting of non-recurring||||
|gains/losses||||

Bengang Steel Plates Co., Ltd. Interim Report 2015 Full Text Bengang Steel Plates Co., Ltd.
August 3, 2015
Bengang Steel Plates Co., Ltd. Interim Report 2015 Full Text Chapter X. Documents For Reference
1. Financial Statements signed and stamped by the legal representative, CFO, and accounting manager;
2. All of the original copies of documents and announcements that have been published on China Securities Journal, Securities Times, and Hong Kong Commercial Daily.