Bengang Steel Plates Co., Ltd. The 1st Quarterly Report 2015 (Full Text) Bengang Steel Plates Co., Ltd.
st
The 1 Quarterly Report 2015
April 2015
Bengang Steel Plates Co., Ltd. The 1st Quarterly Report 2015 (Full Text) Chapter I. Important Statement
The Board of Directors and the directors of the Company guarantee that there are no significant omissions, fictitious or misleading statements carried in the Report and we will accept individual and joint responsibilities for the truthfulness, accuracy and completeness of the Report.
All of the directors presented the board meeting at which this Quarterly Report was examined.
Chairman of the Board– Mr. Wang Shu, Chief Financial Officer– Mr. Han Ge, and Head of Accounting Dept.– Mr. Wang Shaoyu hereby declare: the authenticity and integrality of the report are guaranteed.
This report is prepared both in versions of Chinese and English. The Chinese version shall prevail when there are any controversial statements in the two versions.
Bengang Steel Plates Co., Ltd. The 1st Quarterly Report 2015 (Full Text) Chapter II. Financial Highlights and Change of Shareholders 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)|9,571,892,099.49|9,705,291,532.93|-1.37%|
|Net profit attributable to shareholders of the listed|71,707,881.99|115,963,695.53||
||||-38.16%|
|company (yuan)||||
|Net profit attributable to the shareholders of the listed||||
|company and after deducting of non-recurring|52,169,643.70|106,695,151.16|-51.10%|
|gain/loss(RMB)||||
|Net Cash flow generated by business operation (RMB)|601,173,782.82|-1,262,035,328.12|147.64%|
|Basic earnings per share (Yuan/share)|0.023|0.037|-37.84%|
|Diluted earnings per share (Yuan/share)|0.023|0.037|-37.84%|
|Net income on asset, weighted|0.46%|0.75%|-0.29%|
||Ended this report||Changed at end of report period|
|||End of prev. year||
||term||over end of previous period|
|Gross Assets (RMB)|51,392,659,909.37|49,170,603,030.67|4.52%|
|Net asset attributable to owners of the PLC|15,460,258,132.06|15,384,562,323.08|0.49%|

 Non-recurring gain/loss items and amounts
[V] Applicable[]Not applicable
In RMB Yuan
||||
|-|-|-|
||Amount of the period from||
|Items|the beginning of year to|Remarks|
||the end of report term||
|Gain/loss from disposal of non-current assets (includes the|||
|recovered part of asset impairment provision already|-6,603.93||
|provided)|||
|Gains and losses included in the current period of|||
|||The Company received the government|
|government subsidies, excluding those government grants|||
|||award for discarding of out-of-date|
|which are closely related to normal business and in line with|19,500,000.00||
|||productions basing upon the government|
|national policy , or in accordance with fixed standards or|||
|||document about the issue of year 2014.|
|quantities|||

Bengang Steel Plates Co., Ltd. The 1st Quarterly Report 2015 (Full Text)
||||
|-|-|-|
|Gain/loss from commissioned investment or assets|2,452,534.28||
|Gain/loss from debt reorganization|3,110,378.46||
|Other non-business income and expenditures other than the|||
||198,247.62||
|above|||
|Less: Influenced amount of income tax|5,700,505.54||
|Influence on minority shareholders’ equity (after tax)|15,812.60||
|Total|19,538,238.29|--|

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.
II. Total of shareholders and top-10 holders of current shares at end of period
1 Position of shareholders and top-10 holders at end of the report period
in shares
||||||||
|-|-|-|-|-|-|-|
|Total common shareholders at the end of the report period||52,353|||||
|Top 10 common share holders|||||||
||||||Frozen or||
|||||Amount of|||
||Properties of|Share|Amount of||pledged||
|Name of the shareholder||||unconditional shares|||
||shareholder|proportion %|shares||Status of||
|||||held||Amount|
||||||shares||
|Benxi Steel (Group) Ltd.|State-ownedlegal person|81.13%|2,544,110,620||||
|GIC PRIVATE LIMITED|Overseas legalperson|0.72%|22,644,061||||
|BBH A/C VANGUARD EMERGINGMARKETS STOCK INDEX FUND|Overseas legalperson|0.26%|8,157,311||||
|GSIC A/C MONETARY AUTHORITY OFSINGAPORE|Overseas legalperson|0.23%|7,076,033||||
|刘修志|Domesticnatural person|0.15%|4,653,993||||
|DWS CHINA EQUITY FUND|Overseas legalperson|0.15%|4,549,984||||
|GUOTAI JUNANSECURITIES(HONGKONG) LIMITED|Overseas legalperson|0.11%|3,548,116||||
|SEUNG YEOL PARK|Overseasnatural person|0.11%|3,436,395||||
|Taifook Securities CompanyLimited-Account Client|Overseas legalperson|0.11%|3,402,209||||
|Bao Xinfa|Domesticnatural person|0.10%|3,100,004||||

|||||
|-|-|-|-|
|Top 10 Holders of Unrestricted Shares||||
||Number of unrestricted shares|Category of shares||
|Name of the shareholder||||
||held|Category of shares|Amount|
|Benxi Steel (Group) Ltd.|2,544,110,620|RMB common shares|2,544,110,620|
|GIC PRIVATE LIMITED|22,644,061|Foreign shares placed in||
||||22,644,061|
|||domestic exchange||
|BBH A/C VANGUARD EMERGINGMARKETS STOCK INDEX FUND|8,157,311|Foreign shares placed in||
||||8,157,311|
|||domestic exchange||

Bengang Steel Plates Co., Ltd. The 1st Quarterly Report 2015 (Full Text)
|||||
|-|-|-|-|
|GSIC A/C MONETARY AUTHORITY OFSINGAPORE|7,076,033|Foreign shares placed in||
||||7,076,033|
|||domestic exchange||
|Liu Xiuzhi|4,653,993|RMB common shares|4,653,993|
|DWS CHINA EQUITY FUND|4,549,984|Foreign shares placed in||
||||4,549,984|
|||domestic exchange||
|GUOTAI JUNANSECURITIES(HONGKONG) LIMITED|3,548,116|Foreign shares placed in||
||||3,548,116|
|||domestic exchange||
|SEUNG YEOL PARK|3,436,395|Foreign shares placed in||
||||3,436,395|
|||domestic exchange||
|Taifook Securities CompanyLimited-Account Client|3,402,209|Foreign shares placed in||
||||3,402,209|
|||domestic exchange||
|Bao Xinfa|3,100,004|Foreign shares placed in||
||||3,100,004|
|||domestic exchange||
||Benxi Steel & Iron (Group) Co., Ltd., the holding shareholder, has no relationship with|||
||any of the other shareholders among the top 10 shareholders, neither being regarded as|||
||action-in-concert parties by the Information Disclosure Regulations for Change of|||
||Shareholding in PLC|||
|Notes to relationship or “action in concert”|The Company is not aware of any relationship among the other shareholders, nor of any|||
|among the top ten shareholders.|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.|||
|Statement on any of the top 10 holders of||||
|common shares participating in margin|None|||
|transaction (if any)||||

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
2 Total of shareholders and top-10 preferential shareholders at end of the report period
[] Applicable;[V] Not applicable
Bengang Steel Plates Co., Ltd. The 1st Quarterly Report 2015 (Full Text) Chapter III. Significant Issues
I. Particulars and causations of material change in major accounting items and indices
[V] Applicable[]Not applicable
(I) Reducing of shareholding
During the period from January 1 to March 31, 2015, Benxi Steel& Iron (Group) Co., Ltd.– the holding shareholder of the Company has reduced its shares by 20,319,380 accounting of0.64% of the total capital shares.
* Major items in the consolidated statements which changed by over30% comparing with the balances at of the end of 2014
||||
|-|-|-|
|I. Balance Sheet Items|Rate ofchange|Cause of change|
|Notes receivable|58%|Increase of notes receivable unpaid received in the period|
|Other current asset|64%|Increase of financial instruments purchased in the period which are not mature|
|Engineering goods|-90%|Increase of engineering material delivered|
|Notes payable|33%|Increase of purchase payment by notes payable|
|Tax payable|143%|Decrease of tax payable at end of the period|
|Interest payable|35%|Increase of interest drawn in advance in the period|
|Other account payable|84%|Increase of transactions owned in the period|
|Non-current liability due in 1 year|42%|Increase of long-term borrowings turned to within 1 year in the period|
|Special reserves|926%|Decrease of safety fee paid in the period|

* Major items in the consolidated statements which changed by over30% comparing with that of Jan-Mar 2014
||||
|-|-|-|
|II. Income Statement Items|||
|Business tax and surcharge|231%|Increase of tax refunding on exported products|
|Sales expense|38%|Increase of external railway transportation fee paid for 1780 production line|
|Administrative expense|-37%|Transferring of rental for 2300 hot-rolling line to production expense|
|Financial expenses|45%|Increase of loans|
|Investment income|-65%|Decrease of financial instruments purchased this period|
|Non-operational income|314%|Increase of government award this period|
|Net profit attributable to the owners ofparent company|-38%|Decrease of sales prices in the period|
|Minor shareholders’ equity|1496%|Increase of profit contributed by controlled subsidiaries|
|III. Cash Flow Statement|Rate ofchange|Cause of change|
|Tax returned|20301%|Increase of export tax refunding|
|Cash flow generated by businessoperation, net|148%|Increase of cash received from sales of goods and services, as well as decreaseof cash paid for purchasing of goods and services|
|Cash received from investmentretrieving|-75%|Decrease of financial instruments purchased this period|
|Cash received as investment profit|-65%|Decrease of financial instruments purchased this period|
|Cash paid as investment|-51%|Decrease of financial instruments purchased this period|
|Net cash flow generated by investment|-2844%|Increase of financial instruments purchased this period and not repurchased yet|
|Subtotal of cash inflow from financingactivities|42.30%|Issuing of bonds|
|Cash to repay debts|38%|Increase of loans repaid|
|Cash paid as dividend, profit, orinterests|73%|Increase of interests paid for loans in the period|
|Net cash flow generated by financing|49%|Enlarge of increasing scale of net amount of company bond and loans comparingwith those of last year|

Bengang Steel Plates Co., Ltd. The 1st Quarterly Report 2015 (Full Text) II. Analyze of significant issues and solutions
[V] Applicable[]Not applicable
On January 26, 2014, as approved by the 5th meeting of the 6th term of Board, the Company was about to issue corporation bond up to RMB3 billion (included) to the public. This proposal was approved at the 1stshareholders’ provisional meeting of 2014. As approved by China Securities Regulatory Commission with document证监许可[2014]880号 dated August 21, 2014, the Company issued the corporation bonds with value up to RMB3 billion, in which the 1st issuance was RMB1.5 billion.
According to the “Prospectus of Issuing Corporation Bonds (1st Phase) in 2015”, the Company issued the 1st batch of corporation bonds with value of RMB1.5 billion and 3 years of term. The face value was RMB100 and interest rate was5.17%. Interests will be paid on yearly basis and principal payable at mature. The proceeds from issuing of the corporation bonds will be used to refine capital structure and repaying of debts.
||||
|-|-|-|
|Summary of material issues|Date of disclosure|Index of provisional announcement|
|Announcement of the results of the 1stissuance of corporation bonds in 2015||http://www.cninfo.com.cn China Securities|
||February 9, 2015|Journal, Securities Times, Hong Kong|
|||Commercial Daily.|

III. Commitment issues of shareholders with5% or over of shares occurred in the report period or carried down from previous report 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
IV. Business forecasting for Jan-Jun 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
V. Securities investment
[] Applicable;[V] Not applicable
No securities investment in the report period.
VI. Statement on holding of otherPLCs’ shares
[] Applicable;[V] Not applicable
The Company was not holding shares of any other PLC as of the end of report period.
VII. Investment on derivate instruments
[] Applicable;[V] Not applicable
Bengang Steel Plates Co., Ltd. The 1st Quarterly Report 2015 (Full Text) No derivate instrument investment in the report period.
VIII. Reception of investigations, communications, or interviews
[] Applicable;[V] Not applicable
No investigation, communication, or visiting occurred in report period.
Bengang Steel Plates Co., Ltd. The 1st Quarterly Report 2015 (Full Text) Chapter IV. Financial Statements
I. Financial Statements
1. Consolidated Balance Sheet
Bengang Steel Plate Co., Ltd.
March 31, 2015
In RMB Yuan
||||
|-|-|-|
|Items|Closing balance|Opening balance|
|Current asset:|||
|Monetary capital|11,018,481,388.68|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|3,301,262,877.64|2,089,039,261.13|
|Account receivable|420,776,890.42|487,767,042.22|
|Prepayment|1,237,736,059.63|1,236,314,004.73|
|Insurance receivable|||
|Reinsurance receivable|||
|Provisions of Reinsurance contracts receivable|||
|Interest receivable|8,763,869.86|7,011,095.89|
|Dividend receivable|||
|Other account receivable|209,204,608.17|257,708,098.03|
|Repurchasing of financial assets|||
|Inventories|10,717,636,876.02|11,008,413,817.92|
|Categorized as asset hold for sale|||
|Non-current asset due in 1 year|||
|Other current asset|749,828,840.97|457,504,509.43|
|Total of current asset|27,663,691,411.39|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|16,758,645,563.03|17,144,282,253.99|
|Construction in process|6,489,983,801.16|6,126,175,722.67|
|Engineering goods|8,598,184.29|90,221,101.46|
|Fixed asset disposal|||
|Production physical assets|||
|Gas & petrol|||
|Intangible assets|269,975,205.45|271,459,969.75|
|R&D expense|||
|Goodwill|||
|Long-term amortizable expenses|||
|Deferred income tax asset|181,494,465.42|181,494,465.42|
|Other non-current asset|||
|Total of non-current assets|23,728,968,497.98|23,833,904,791.92|
|Total of assets|51,392,659,909.37|49,170,603,030.67|
|Current liabilities|||
|Short-term loans|18,203,086,005.90|18,187,945,675.93|
|Loan from Central Bank|||
|Deposit received and hold for others|||

Bengang Steel Plates Co., Ltd. The 1st Quarterly Report 2015 (Full Text)
||||
|-|-|-|
|Call loan received|||
|Financial liabilities booked as current gain/loss at fair value|||
|Deductive financial liability|||
|Notes payable|1,092,354,298.87|822,581,591.46|
|Account payable|8,927,800,744.44|8,780,948,804.18|
|Advances received|2,846,972,365.18|3,144,418,091.52|
|Selling of repurchased financial assets|||
|Fees and commissions receivable|||
|Employees’ wage payable|33,377,811.37|35,383,951.55|
|Tax payable|78,655,692.53|32,323,181.76|
|Interest payable|36,302,706.55|26,935,067.99|
|Dividend payable|||
|Other account payable|865,208,520.53|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|843,050,000.00|591,740,000.00|
|Other current liability|||
|Total of current liability|32,926,808,145.37|32,091,592,380.22|
|Non-current liabilities|||
|Long-term borrowings|596,524,877.37|814,627,465.85|
|Bond payable|1,500,000,000.00||
|Incl. Preference Shares|||
|Perpetual liability|||
|Long-term payable|||
|Long-term employee wage payable|||
|Special payable|||
|Expected liabilities|||
|Differed income|427,524,000.00|427,524,000.00|
|Deferred income tax liability|||
|Other non-recurring liabilities|||
|Total of non-current liabilities|2,524,048,877.37|1,242,151,465.85|
|Total of liability|35,450,857,022.74|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|||
|Perpetual liability|||
|Capital reserves|9,114,845,542.05|9,114,845,542.05|
|Less: Shares in stock|||
|Other misc incomes|||
|Special reserves|4,418,704.93|430,777.94|
|Surplus reserves|961,105,529.85|961,105,529.85|
|Common risk provision|||
|Retained profit|2,243,888,355.23|2,172,180,473.24|
|Total of owner’s equity belong to the parent company|15,460,258,132.06|15,384,562,323.08|
|Minor shareholders’ equity|481,544,754.57|452,296,861.52|
|Total of owners’ equity|15,941,802,886.63|15,836,859,184.60|
|Total of liabilities and owners’ equity|51,392,659,909.37|49,170,603,030.67|

 Legal representative: Wang Shu 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|10,818,401,719.73|9,530,304,140.51|

Bengang Steel Plates Co., Ltd. The 1st Quarterly Report 2015 (Full Text)
||||
|-|-|-|
|Financial assets accounted at fair value and fluctuation accounted into current income|||
|Deductive financial assets|||
|Notes receivable|3,132,639,240.27|1,863,613,673.54|
|Account receivable|340,602,626.48|388,842,194.63|
|Prepayment|1,127,838,738.35|1,126,416,683.45|
|Interest receivable|8,763,869.86|7,011,095.89|
|Dividend receivable|||
|Other account receivable|239,170,924.54|302,622,013.53|
|Inventories|8,853,060,395.42|9,215,120,654.72|
|Categorized as asset hold for sale|||
|Non-current asset due in 1 year|||
|Other current asset|696,444,205.92|404,119,874.38|
|Total of current asset|25,216,921,720.57|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|13,784,694,289.32|14,089,675,221.83|
|Construction in process|6,428,230,532.46|6,074,588,463.12|
|Engineering goods|8,598,184.29|90,221,101.46|
|Fixed asset disposal|||
|Production physical assets|||
|Gas & petrol|||
|Intangible assets|161,174,192.79|162,000,727.11|
|R&D expense|||
|Goodwill|||
|Long-term amortizable expenses|||
|Deferred income tax asset|81,964,982.51|81,964,982.51|
|Other non-current asset|||
|Total of non-current assets|22,173,947,756.53|22,207,736,071.19|
|Total of assets|47,390,869,477.10|45,045,786,401.84|
|Current liabilities|||
|Short-term loans|17,010,494,329.97|16,028,552,000.00|
|Financial liabilities booked as current gain/loss at fair value|||
|Deductive financial liability|||
|Notes payable|1,002,248,089.45|732,475,382.04|
|Account payable|8,977,361,867.78|8,914,580,556.14|
|Advances received|2,381,206,639.81|2,639,010,215.36|
|Employees’ wage payable|30,591,775.78|32,213,350.61|
|Tax payable|56,336,950.91|7,979,826.50|
|Interest payable|33,030,000.00|5,080,000.00|
|Dividend payable|||
|Other account payable|43,339,686.29|327,382,843.61|
|Liabilities categorized as hold for sale|||
|Non-current liability due in 1 year|289,500,000.00|308,740,000.00|
|Other current liability|||
|Total of current liability|29,824,109,339.99|28,996,014,174.26|
|Non-current liabilities|||
|Long-term borrowings|867,074,877.37|814,627,465.85|
|Bond payable|1,500,000,000.00||
|Incl. Preference Shares|||
|Perpetual liability|||
|Long-term payable|||
|Long-term employee wage payable|||
|Special payable|||
|Expected liabilities|||
|Differed income|427,524,000.00|427,524,000.00|
|Deferred income tax liability|||
|Other non-recurring liabilities|||
|Total of non-current liabilities|2,794,598,877.37|1,242,151,465.85|
|Total of liability|32,618,708,217.36|30,238,165,640.11|
|Owners’ equity:|||

Bengang Steel Plates Co., Ltd. The 1st Quarterly Report 2015 (Full Text)
||||
|-|-|-|
|Share capital|3,136,000,000.00|3,136,000,000.00|
|Other equity instruments|||
|Incl. Preference Shares|||
|Perpetual liability|||
|Capital reserves|8,694,693,859.93|8,694,693,859.93|
|Less: Shares in stock|||
|Other misc incomes|||
|Special reserves|4,418,704.93|430,777.94|
|Surplus reserves|961,105,529.85|961,105,529.85|
|Retained profit|1,975,943,165.03|2,015,390,594.01|
|Total of owners’ equity|14,772,161,259.74|14,807,620,761.73|
|Total of liabilities and owners’ equity|47,390,869,477.10|45,045,786,401.84|

 3. Consolidated Income Statement
In RMB Yuan
||||
|-|-|-|
||Occurred current|Occurred in previous|
|Items|||
||term|term|
|I. Total revenue|9,571,892,099.49|9,705,291,532.93|
|Incl. Business income|9,571,892,099.49|9,705,291,532.93|
|Interest income|||
|Insurance fee earned|||
|Fee and commission received|||
|II. Total business cost|9,488,432,136.18|9,592,368,336.50|
|Incl. Business cost|8,651,587,783.26|8,846,017,381.01|
|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|26,823,125.71|8,104,819.43|
|Sales expense|250,933,920.68|181,632,279.49|
|Administrative expense|189,206,117.29|300,767,064.62|
|Financial expenses|369,881,189.24|255,846,791.95|
|Asset impairment loss|||
|Plus: gains from change of fair value (“-“ for loss)|||
|Investment gains (“-“ for loss)|2,452,534.28|6,923,301.36|
|Incl. Investment gains from affiliates|||
|Exchange gains (“-“ for loss)|||
|III. Operational profit (“-“ for loss)|85,912,497.59|119,846,497.79|
|Plus: Non business income|22,808,626.08|5,514,010.91|
|Incl. Gains from disposal of non-current assets||1,834,698.29|
|Less: Non-business expenses|6,603.93||
|Incl. Loss from disposal of non-current assets|6,603.93||
|IV. Gross profit (“-“ for loss)|108,714,519.74|125,360,508.70|
|Less: Income tax expenses|7,758,744.70|7,564,792.55|
|V. Net profit (“-“ for net loss)|100,955,775.04|117,795,716.15|
|Net profit attributable to the owners of parent company|71,707,881.99|115,963,695.53|
|Minor shareholders’ equity|29,247,893.05|1,832,020.62|
|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|||

Bengang Steel Plates Co., Ltd. The 1st Quarterly 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|||
|Net amount of other gains after tax attributable to minority shareholders|||
|VII. Total of integrated income|100,955,775.04|117,795,716.15|
|Total of misc. incomes attributable to the owners of the parent company|71,707,881.99|115,963,695.53|
|Total misc gains attributable to the minor shareholders|29,247,893.05|1,832,020.62|
|VIII. Earning per share|||
|(I) Basic earnings per share|0.023|0.037|
|(II) Diluted earnings per share|0.023|0.037|

 If there are entities merged under common control, their net profit realized before the merger were totaled toRMB***. While it wasRMB*** previous period.
Legal representative: Wang Shu 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|10,041,262,488.32|10,207,588,237.56|
|Less: Operation cost|9,347,835,662.54|9,481,537,382.98|
|Business tax and surcharge|24,171,920.65|6,250,453.87|
|Sales expense|213,032,363.48|147,706,703.63|
|Administrative expense|174,078,341.75|284,850,445.82|
|Financial expenses|346,685,946.85|213,071,256.16|
|Asset impairment loss|||
|Plus: gains from change of fair value (“-“ for loss)|||
|Investment gains (“-“ for loss)|2,452,534.28|6,923,301.36|
|Incl. Investment gains from affiliates|||
|II. Operational profit (“-“ for loss)|-62,089,212.67|81,095,296.46|
|Plus: Non business income|22,648,387.62|4,307,573.45|
|Incl. Gains from disposal of non-current assets||1,834,698.29|
|Less: Non-business expenses|6,603.93||
|Incl. Loss from disposal of non-current assets|6,603.93||
|III. Total profit (“-“ for loss)|-39,447,428.98|85,402,869.91|
|Less: Income tax expenses|||
|IV. Net profit (“-“ for net loss)|-39,447,428.98|85,402,869.91|
|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|||
|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|-39,447,428.98|85,402,869.91|
|VII. Earning per share|||
|(I) Basic earnings per share|-0.03|0.06|
|(II) Diluted earnings per share|-0.03|0.06|

Bengang Steel Plates Co., Ltd. The 1st Quarterly Report 2015 (Full Text) 5. Consolidated Cash Flow Statement
In RMB Yuan
||||
|-|-|-|
||Occurred current|Amount of previous|
|Items|||
||term|period|
|I. Net cash flow from business operation|||
|Cash received from sales of products and providing of services|7,889,152,266.83|7,095,676,511.89|
|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|173,412,633.74|850,000.00|
|Other cash received from business operation|67,169,422.10|73,621,580.71|
|Sub-total of cash inflow from business activities|8,129,734,322.67|7,170,148,092.60|
|Cash paid for purchasing of merchandise and services|6,845,828,150.13|7,720,481,609.21|
|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|530,989,965.62|554,975,247.83|
|Taxes paid|121,446,057.50|121,871,198.65|
|Other cash paid for business activities|30,296,366.60|34,855,365.03|
|Sub-total of cash outflow from business activities|7,528,560,539.85|8,432,183,420.72|
|Cash flow generated by business operation, net|601,173,782.82|-1,262,035,328.12|
|II. Cash flow generated by investing|||
|Cash received from investment retrieving|700,000,000.00|2,770,000,000.00|
|Cash received as investment gains|2,452,534.28|6,923,301.36|
|Net cash retrieved from disposal of fixed assets, intangible assets, and other|||
|||107,010.00|
|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|702,452,534.28|2,777,030,311.36|
|Cash paid for construction of fixed assets, intangible assets and other long-term|||
||603,436,817.58|500,552,100.00|
|assets|||
|Cash paid as investment|1,100,000,000.00|2,240,000,000.00|
|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|1,703,436,817.58|2,740,552,100.00|
|Net cash flow generated by investment|-1,000,984,283.30|36,478,211.36|
|III. Cash flow generated by financing|||
|Cash received as investment|||
|Incl. Cash received as investment from minor shareholders|||
|Cash received as loans|3,914,775,807.42|3,805,243,200.00|
|Cash received from bond placing|1,500,000,000.00||
|Other financing-related cash received|||
|Subtotal of cash inflow from financing activities|5,414,775,807.42|3,805,243,200.00|
|Cash to repay debts|3,798,688,565.03|2,755,428,292.59|
|Cash paid as dividend, profit, or interests|354,035,536.61|205,046,260.11|
|Incl. Dividend and profit paid by subsidiaries to minor shareholders|||
|Other cash paid for financing activities|||
|Subtotal of cash outflow due to financing activities|4,152,724,101.64|2,960,474,552.70|
|Net cash flow generated by financing|1,262,051,705.78|844,768,647.30|
|IV. Influence of exchange rate alternation on cash and cash equivalents|9,393,652.25|2,079,102.30|
|V. Net increase of cash and cash equivalents|871,634,857.55|-378,709,367.16|

Bengang Steel Plates Co., Ltd. The 1st Quarterly Report 2015 (Full Text)
||||
|-|-|-|
|Plus: Balance of cash and cash equivalents at the beginning of term|9,774,657,726.06|4,574,532,598.83|
|VI. Balance of cash and cash equivalents at the end of term|10,646,292,583.61|4,195,823,231.67|

 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|6,428,288,152.41|6,558,858,248.79|
|Tax returned|130,788,072.89||
|Other cash received from business operation|62,195,406.33|68,133,994.31|
|Sub-total of cash inflow from business activities|6,621,271,631.63|6,626,992,243.10|
|Cash paid for purchasing of merchandise and services|6,391,842,867.92|6,928,852,119.62|
|Cash paid to staffs or paid for staffs|506,058,465.58|534,154,783.52|
|Taxes paid|54,400,166.97|82,080,457.99|
|Other cash paid for business activities|23,545,525.77|25,196,535.32|
|Sub-total of cash outflow from business activities|6,975,847,026.24|7,570,283,896.45|
|Cash flow generated by business operation, net|-354,575,394.61|-943,291,653.35|
|II. Cash flow generated by investing|||
|Cash received from investment retrieving|700,000,000.00|2,770,000,000.00|
|Cash received as investment gains|2,452,534.28|6,923,301.36|
|Net cash retrieved from disposal of fixed assets, intangible assets, and other|||
|long-term assets|||
|Net cash received from disposal of subsidiaries or other operational units|||
|Other investment-related cash received|||
|Sub-total of cash inflow due to investment activities|702,452,534.28|2,776,923,301.36|
|Cash paid for construction of fixed assets, intangible assets and other long-term|||
||593,852,993.00|495,274,960.00|
|assets|||
|Cash paid as investment|1,100,000,000.00|2,240,000,000.00|
|Net cash received from subsidiaries and other operational units|||
|Other cash paid for investment activities|||
|Sub-total of cash outflow due to investment activities|1,693,852,993.00|2,735,274,960.00|
|Net cash flow generated by investment|-991,400,458.72|41,648,341.36|
|III. Cash flow generated by financing|||
|Cash received as investment|||
|Cash received as loans|3,814,565,125.77|2,741,933,000.00|
|Cash received from bond placing|1,500,000,000.00||
|Other financing-related cash received|||
|Subtotal of cash inflow from financing activities|5,314,565,125.77|2,741,933,000.00|
|Cash to repay debts|2,721,886,565.03|2,167,273,192.59|
|Cash paid as dividend, profit, or interests|321,903,494.07|171,830,589.37|
|Other cash paid for financing activities|||
|Subtotal of cash outflow due to financing activities|3,043,790,059.10|2,339,103,781.96|
|Net cash flow generated by financing|2,270,775,066.67|402,829,218.04|
|IV. Influence of exchange rate alternation on cash and cash equivalents|9,392,244.15|4,812,371.68|
|V. Net increase of cash and cash equivalents|934,191,457.49|-494,001,722.27|
|Plus: Balance of cash and cash equivalents at the beginning of term|9,512,021,457.17|4,304,424,513.46|
|VI. Balance of cash and cash equivalents at the end of term|10,446,212,914.66|3,810,422,791.19|

 II.Auditors’ Report
If the 1st Quarterly Financial Statements are audited?
[] Yes[V] No
This 1st Quarterly Report is not audited.