Bengang Steel Plates Co., Ltd. The 3rd Quarterly Report 2014 (Full Text) Bengang Steel Plates Co., Ltd.
rd
The 3 Quarterly Report 2014
Oct 2014
Bengang Steel Plates Co., Ltd. The 3rd Quarterly Report 2014 (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.
Bengang Steel Plates Co., Ltd. The 3rd Quarterly Report 2014 (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?
[V] Yes[] No
||||||
|-|-|-|-|-|
|||||Changed at end of report|
||Ended this report|End of prev. year||period over end of previous|
||term|||period|
|||Not adjusted|Adjusted|Adjusted|
|Gross Assets (RMB)|44,754,747,298.67|43,050,307,324.66|43,050,307,324.66|3.96%|
|Net asset attributable to owners of|15,359,505,787.25||15,308,337,697.63||
|||15,308,337,697.63||0.33%|
|the PLC|||||
|||||The amount of from|
||||From beginning of year|beginning of year to the end|
|||Increase/decrease|||
||This report term||to the end of report|of report period over the|
|||(%)|||
||||period|amount of same period last|
|||||year|
|Turnover (RMB)|10,383,901,975.97|7.01%|30,196,578,257.78|-0.76%|
|Net profit attributable to|27,917,466.35||201,811,775.99||
|shareholders of the listed company||-79.30%||-32.31%|
|(yuan)|||||
|Net profit attributable to the|||||
|shareholders of the listed company|||||
||18,349,213.31|-84.62%|171,124,583.99|-31.99%|
|and after deducting of non-recurring|||||
|gain/loss(RMB)|||||
|Net Cash flow generated by|||-235,268,594.72||
||--|--||-142.59%|
|business operation (RMB)|||||
|Basic earnings per share|0.01||0.06||
|||-75.00%||-40.00%|
|(Yuan/share)|||||
|Diluted earnings per share|0.01||0.06||
|||-75.00%||-40.00%|
|(Yuan/share)|||||
|Net income on asset, weighted|0.18%|-0.69%|1.28%|-0.57%|

 Non-recurring gain/loss items and amounts
[V] Applicable Not applicable
In RMB Yuan
Bengang Steel Plates Co., Ltd. The 3rd Quarterly Report 2014 (Full Text)
||||
|-|-|-|
||Amount of the period from the||
|Items|beginning of year to the end of|Remarks|
||report term||
|Gain/loss from disposal of non-current assets (includes the recovered part of asset|||
||3,009,167.02||
|impairment provision already provided)|||
|Gains and losses included in the current period of government subsidies, excluding|||
|those government grants which are closely related to normal business and in line with|1,159,998.00||
|national policy , or in accordance with fixed standards or quantities|||
|Gain/loss from commissioned investment or assets|20,845,473.00||
|Gain/loss from debt reorganization|5,468,594.65||
|Other non-business income and expenditures other than the above|3,618,266.82||
|Less: Influenced amount of income tax|3,314,006.62||
|Influence on minority shareholders‟ equity (after tax)|100,300.87||
|Total|30,687,192.00|--|

 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 Total of shareholders and top-10 holders at end of the report period
in shares
||||||||
|-|-|-|-|-|-|-|
|Total common shareholders at the end|||||||
|||59,541|||||
|of the report period|||||||
|Top 10 common share holders|||||||
|||||Amount of|Frozen or pledged||
||Properties of|Share|Amount of||||
|Name of the shareholder||||unconditional shares|||
||shareholder|proportion %|shares||Status of shares|Amount|
|||||held|||
|Benxi Steel (Group) Ltd.|State-ownedlegal person|81.77%|2,564,430,000||||
|GIC PRIVATELIMITED|Overseaslegal person|0.80%|25,044,081||||
|GSIC A/C MONETARYAUTHORITY OFSINGAPORE|Overseaslegal person|0.31%|9,724,084||||
|BBH A/C VANGUARDEMERGINGMARKETS STOCKINDEX FUND|Overseaslegal person|0.26%|8,157,311||||
|DWS CHINA EQUITYFUND|Overseaslegal person|0.15%|4,549,984||||
|China Galaxy SecuritiesClient Credit TransactionGuarantee SecuritiesAccount|Others|0.11%|3,457,060||||

Bengang Steel Plates Co., Ltd. The 3rd Quarterly Report 2014 (Full Text)
|||||||
|-|-|-|-|-|-|
|SEUNG YEOL PARK|Overseasnaturalperson|0.11%|3,436,395|||
|LSV EMERGINGMARKETS EQUITYFUND,L.P.|Overseaslegal person|0.11%|3,385,700|||
|Taifook SecuritiesCompanyLimited-Account Client|Overseaslegal person|0.10%|3,243,409|||
|Bao Xinfa|Overseasnaturalperson|0.10%|3,100,004|||
|Top 10 Holders of Unrestricted Shares||||||
|||||Category of shares||
|Name of the shareholder||Number of unrestricted shares held||||
|||||Category of shares|Amount|
|Benxi Steel (Group) Ltd.||2,564,430,000||RMB common||
||||||2,564,430,000|
|||||shares||
|GIC PRIVATE LIMITED||25,044,081||Foreign shares||
|||||placed in domestic|25,044,081|
|||||exchange||
|GSIC A/C MONETARY AUTHORITYOF SINGAPORE||9,724,084||Foreign shares||
|||||placed in domestic|9,724,084|
|||||exchange||
|BBH A/C VANGUARD EMERGINGMARKETS STOCK INDEX FUND||8,157,311||Foreign shares||
|||||placed in domestic|8,157,311|
|||||exchange||
|DWS CHINA EQUITY FUND||4,549,984||Foreign shares||
|||||placed in domestic|4,549,984|
|||||exchange||
|China Galaxy Securities Client CreditTransaction Guarantee SecuritiesAccount||3,457,060||||
|||||RMB common||
||||||3,457,060|
|||||shares||
|SEUNG YEOL PARK||3,436,395||Foreign shares||
|||||placed in domestic|3,436,395|
|||||exchange||
|LSV EMERGING MARKETSEQUITY FUND,L.P.||3,385,700||Foreign shares||
|||||placed in domestic|3,385,700|
|||||exchange||
|Taifook Securities CompanyLimited-Account Client||3,243,409||Foreign shares||
|||||placed in domestic|3,243,409|
|||||exchange||
|Bao Xinfa||3,100,004||Foreign shares||
|||||placed in domestic|3,100,004|
|||||exchange||
|Notes to relationship or “action in||It is unknown to the Company whether there is any related connection or „Action in||||
|concert” among the top ten||Concert‟ as described by Rules of Information Disclosing Regarding Changing of||||
|shareholders.||Shareholding Status of Listed Companies existing among the above shareholders.||||
|Participating of financing operations by||||||
|top 10 unrestricted common share||None||||
|holders||||||

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
Bengang Steel Plates Co., Ltd. The 3rd Quarterly Report 2014 (Full Text) Chapter III. Significant Issues
I. Particulars and causations of material change in major accounting items and indices
[V] Applicable Not applicable
(I) Influences of the newly revised accounting standard on the consolidated financial statements of the Company
According to the newly revised “Enterprise Accounting Standard No.2– Long-term equity investment”, when the Company is not committing common control or material influence on any of the invested entity, and there is no fair value in an active market or the fair value is not measurable, the corresponding “long-term equity investment” shall be combined as described by “Enterprise Accounting Standard No.2– Recognition and measurement of financial instruments”. Therefore the closing balance of RMB20,271,278.63 under long-term equity investment as of the end of September 2014 was transferred to saleable financial assets, and the opening balance of the consolidated statements was adjusted thereof.
Revising of the accounting standard was only committing influences on the amounts of saleable financial assets and long-term equity investment, but not on the amounts of total assets, total liabilities, net assets, and net profit of year 2013 and the report period.
(II) Change and causations of major items and indexes in the financial statements
||||
|-|-|-|
| Material items in the consolidated financial statements which have changed by over 30% over that of at end of 2013, and thecausations.|||
|I. Items in the balance sheet|Changedby|Causations of change|
|Other current assets|-64%|Decrease of undue financial instruments in the period|
|Construction-in-process|67%|Increase of settlement of construction in process in theperiod|
|Project materials|358%|Increasing of project materials inventory|
|Intangible assets|146%|Completing of the takeover procedures of the land rights ofHigh-strength Steel and|
|Notes payable|274%|Increasing of trade settlement by payable notes in the period|
|Tax payable|-30%|Decrease of tax payable at end of period|
|Non-recurring liabilities due in 1 year|-80%|Decrease of long-term borrowings transferred to under 1year|
|Long-term loan|56%|Increase of long-term borrowings|
|Special reserves|2918%|Decrease of safety fees in the period|
| Material items in the consolidated financial statements which have changed by over 30% over that of Jan-Sept 2013, and thecausations.|||
|II. Items of income statement|Changedby|Causations of change|
|Financial expenses|73%|Increase of loan balance and change of exchange rate|
|Asset impairment|64%|Increase of inventory depreciation provision provided|
|Investment gains|684%|Increase of financial instruments purchased|
|Non-operational incomes|-54%|Decrease of gains from debtor reconstruction|
|Non-operational expenditures|-99%|Decrease of loss from disposal of fixed assets|
|Income tax expense|-74%|Decrease of profit of the subsidiaries|

Bengang Steel Plates Co., Ltd. The 3rd Quarterly Report 2014 (Full Text)
||||
|-|-|-|
|Minority shareholders‟ equity|961%|Increase of profit from holding subsidiaries|
|III. Items of cash flow statement|Changedby|Causations of change|
|Taxes and fees paid|-54%|Decrease of VAT paid in the period|
|Net cash flow from business operation|-301%|Decrease of cash from sales of goods and services, andincrease of cash paid for goods and services in the period|
|Cash received by retrieving of investment|413%|Increase of repurchasing of financial instruments in theperiod|
|Cash received by receiving of investment gains|684%|Increase of financial instruments purchased in the period|
|Net cash received from disposal of fixed assets,intangible assets and other long-term assets|569%|Increase of cash received from disposal of fixed assets|
|Cash paid as investment|310%|Increase of financial instruments purchased in the period|
|Net cash flow from investment activities|49%|Increase of repurchasing of financial instruments purchasedin previous period|
|Cash paid as dividend, profit distribution, or interests|38%|Increase of dividend and interests paid|
|Net cash flow from financing|507%|Expanding of increasing scale of net amount of borrowingsover the same period of last year|

(III) Share reducing of holding shareholders
From September 1 to September 24, 2014, Benxi Iron& Steel (Group) Co., Ltd. reduced its shareholding in the Company by 9,202,420shares，take out0.30% of total capitalshare。
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. The Verification Committee of CSRC verified the application on July 18, 2014. It was approved thereafter.
||||
|-|-|-|
||Date of||
|Summary of material issues||Index of provisional announcement|
||disclosure||
|Announcement on Receiving of Approval from China SecuritiesRegulatory Commission about the Company‟s Application toPublic Offering Corporation Bonds|||
||August 26,|http://www.cninfo.com.cn China Securities Journal,|
||2014|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. Prospect on the business performance of year 2014
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
Bengang Steel Plates Co., Ltd. The 3rd Quarterly Report 2014 (Full Text) 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.
Statement on holding of otherPLC‟s shares.
[] Applicable;[V] Not applicable
The Company was not holding shares of any other PLC as of the end of report period.
VI. Investment in derivate instruments
[] Applicable;[V] Not applicable
No derivate instrument investment in the report period.
VII Influences of the newly revised accounting standard on the consolidated financial statements of the Company
According to the newly revised “Enterprise Accounting Standard No.2– Long-term equity investment”, when the Company is not committing common control or material influence on any of the invested entity, and there is no fair value in an active market or the fair value is not measurable, the corresponding “long-term equity investment” shall be combined as described by “Enterprise Accounting Standard No.2– Recognition and measurement of financial instruments”. Therefore the closing balance of RMB20,271,278.63 under long-term equity investment as of the end of September 2014 was transferred to saleable financial assets, and the opening balance of the consolidated statements was adjusted thereof.
Revising of the accounting standard was only committing influences on the amounts of saleable financial assets and long-term equity investment, but not on the amounts of total assets, total liabilities, net assets, and net profit of year 2013 and the report period.
Bengang Steel Plates Co., Ltd. The 3rd Quarterly Report 2014 (Full Text) Chapter IV. Financial Statements
I. Financial Statements
1. Consolidated Balance Sheet
Bengang Steel Plate Co., Ltd.
In RMB Yuan
||||
|-|-|-|
|Items|Closing balance|Opening balance|
|Current asset:|||
|Monetary capital|5,760,636,246.29|4,574,532,598.83|
|Settlement provision|||
|Outgoing call loan|||
|Financial assets accounted at fair value and fluctuation accounted into current income|||
|Notes receivable|2,854,481,908.80|2,433,550,653.99|
|Account receivable|293,070,803.93|354,770,643.94|
|Prepayment|909,133,974.39|1,057,057,803.49|
|Insurance receivable|||
|Reinsurance receivable|||
|Provisions of Reinsurance contracts receivable|||
|Interest receivable|||
|Dividend receivable|||
|Other account receivable|152,515,682.85|187,896,130.26|
|Repurchasing of financial assets|||
|Inventories|11,797,293,479.68|11,607,047,545.14|
|Categorized as asset hold for sale|||
|Non-current asset due in 1 year|||
|Other current asset|308,848,328.35|863,068,482.67|
|Total of current asset|22,075,980,424.29|21,077,923,858.32|
|Non-current assets|||
|Disburse of consigned loans|||
|Sellable financial asset|20,271,278.63|20,271,278.63|
|Expired investment in possess|||
|Long-term receivable|||
|Long-term share equity investment|0.00|0.00|
|Investment real estates|||
|Fixed assets|17,039,412,228.06|18,574,585,898.20|
|Construction in process|5,116,675,035.62|3,072,825,789.22|
|Engineering goods|35,799,526.98|7,821,295.85|
|Fixed asset disposal|||
|Production physical assets|||
|Gas & petrol|||
|Intangible assets|275,424,337.01|112,092,162.53|
|R&D expense|||
|Goodwill|||
|Long-term amortizable expenses|||
|Deferred income tax asset|191,184,468.08|184,787,041.91|
|Other non-current asset|||
|Total of non-current assets|22,678,766,874.38|21,972,383,466.34|
|Total of assets|44,754,747,298.67|43,050,307,324.66|
|Current liabilities|||
|Short-term loans|17,328,031,648.62|14,242,610,696.91|
|Loan from Central Bank|||
|Deposit received and hold for others|||
|Call loan received|||
|Financial liabilities booked as current gain/loss at fair value|||
|Notes payable|573,090,823.47|153,175,292.90|

Bengang Steel Plates Co., Ltd. The 3rd Quarterly Report 2014 (Full Text)
||||
|-|-|-|
|Account payable|5,813,250,305.58|7,440,328,267.35|
|Advances received|2,830,993,157.96|2,665,468,224.81|
|Selling of repurchased financial assets|||
|Fees and commissions receivable|||
|Employees’ wage payable|65,382,948.54|84,786,965.55|
|Tax payable|20,449,868.53|29,240,548.05|
|Interest payable|24,459,541.36|24,854,193.88|
|Dividend payable|||
|Other account payable|503,809,002.24|485,579,109.34|
|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|231,190,000.00|1,163,814,681.99|
|Other current liability|||
|Total of current liability|27,390,657,296.30|26,289,857,980.78|
|Non-current liabilities|||
|Long-term borrowings|1,164,103,631.88|745,666,892.70|
|Bond payable|||
|Long-term payable|||
|Special payable|||
|Expected liabilities|||
|Deferred income tax liability|||
|Other non-recurring liabilities|428,676,226.00|336,216,224.00|
|Total of non-current liabilities|1,592,779,857.88|1,081,883,116.70|
|Total of liability|28,983,437,154.18|27,371,741,097.48|
|Owners’ equity (or shareholders’ equity)|||
|Capital paid in (or share capital)|3,136,000,000.00|3,136,000,000.00|
|Capital reserves|9,114,845,542.05|9,114,845,542.05|
|Less: Shares in stock|||
|Special reserves|6,367,286.31|210,972.68|
|Other misc incomes|||
|Surplus reserves|956,694,103.74|956,694,103.74|
|Common risk provision|||
|Retained profit|2,145,598,855.15|2,100,587,079.16|
|Different of foreign currency translation|||
|Total of owner’s equity belong to the parent company|15,359,505,787.25|15,308,337,697.63|
|Minor shareholders’ equity|411,804,357.24|370,228,529.55|
|Total of owners‟ equity (or shareholders‟ equity)|15,771,310,144.49|15,678,566,227.18|
|Total of liability and shareholders‟ equity (or owners‟ equity)|44,754,747,298.67|43,050,307,324.66|

 Legal representative: Wang Shu CFO: Han Ge Accounting Manager: Wang Shaoyu
2. Balance Sheet of the Parent Company
Bengang Steel Plate Co., Ltd.
In RMB Yuan
||||
|-|-|-|
|Items|Closing balance|Opening balance|
|Current asset:|||
|Monetary capital|5,460,567,331.12|4,304,424,513.46|
|Financial assets accounted at fair value and fluctuation accounted into current income|||
|Notes receivable|2,733,485,703.50|2,287,026,533.02|
|Account receivable|517,379,989.39|651,280,698.09|
|Prepayment|860,431,434.97|963,761,418.30|
|Interest receivable|||
|Dividend receivable|||
|Other account receivable|237,090,205.42|261,165,598.02|
|Inventories|9,891,866,457.43|9,885,156,126.53|
|Categorized as asset hold for sale|||

Bengang Steel Plates Co., Ltd. The 3rd Quarterly Report 2014 (Full Text)
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|-|-|-|
|Non-current asset due in 1 year|||
|Other current asset|227,600,961.17|806,197,784.04|
|Total of current asset|19,928,422,083.00|19,159,012,671.46|
|Non-current assets|||
|Sellable financial asset|20,271,278.63|20,271,278.63|
|Expired investment in possess|||
|Long-term receivable|||
|Long-term share equity investment|1,689,014,296.53|1,689,014,296.53|
|Investment real estates|||
|Fixed assets|13,978,353,334.17|15,229,658,352.73|
|Construction in process|5,086,584,184.22|3,044,697,564.93|
|Engineering goods|35,799,526.98|7,821,295.85|
|Fixed asset disposal|||
|Production physical assets|||
|Gas & petrol|||
|Intangible assets|165,306,864.40|0.00|
|R&D expense|||
|Goodwill|||
|Long-term amortizable expenses|||
|Deferred income tax asset|96,038,322.55|87,312,493.14|
|Other non-current asset|||
|Total of non-current assets|21,071,367,807.48|20,078,775,281.81|
|Total of assets|40,999,789,890.48|39,237,787,953.27|
|Current liabilities|||
|Short-term loans|15,566,508,500.00|12,264,551,200.00|
|Financial liabilities booked as current gain/loss at fair value|||
|Notes payable|573,090,823.47|144,994,492.90|
|Account payable|6,086,056,172.61|7,570,742,890.27|
|Advances received|2,075,903,257.89|1,985,709,079.59|
|Employees’ wage payable|64,580,271.46|82,156,107.48|
|Tax payable|9,347,367.14|5,633,746.17|
|Interest payable|6,429,725.95|4,008,373.03|
|Dividend payable|||
|Other account payable|312,792,661.35|297,207,569.77|
|Liabilities categorized as hold for sale|||
|Non-current liability due in 1 year|218,740,000.00|1,138,914,681.99|
|Other current liability|||
|Total of current liability|24,913,448,779.87|23,493,918,141.20|
|Non-current liabilities|||
|Long-term borrowings|893,553,631.88|487,566,892.70|
|Bond payable|||
|Long-term payable|||
|Special payable|||
|Expected liabilities|||
|Deferred income tax liability|||
|Other non-recurring liabilities|428,676,226.00|336,216,224.00|
|Total of non-current liabilities|1,322,229,857.88|823,783,116.70|
|Total of liability|26,235,678,637.75|24,317,701,257.90|
|Owners’ equity (or shareholders’ equity)|||
|Capital paid in (or share capital)|3,136,000,000.00|3,136,000,000.00|
|Capital reserves|8,694,693,859.93|8,694,693,859.93|
|Less: Shares in stock|||
|Special reserves|6,367,286.31|210,972.68|
|Other misc incomes|||
|Surplus reserves|956,694,103.74|956,694,103.74|
|Common risk provision|||
|Retained profit|1,970,356,002.75|2,132,487,759.02|
|Different of foreign currency translation|||
|Total of owners‟ equity (or shareholders‟ equity)|14,764,111,252.73|14,920,086,695.37|
|Total of liability and shareholders‟ equity (or owners‟ equity)|40,999,789,890.48|39,237,787,953.27|

Legal representative: Wang Shu CFO: Han Ge Accounting Manager: Wang Shaoyu
Bengang Steel Plates Co., Ltd. The 3rd Quarterly Report 2014 (Full Text) 3. Income Statement (Consolidated) of the Report Period
Bengang Steel Plate Co., Ltd.
In RMB Yuan
||||
|-|-|-|
||Amount of the Current|Amount of the Previous|
|Items|||
||Term|Term|
|I. Total revenue|10,383,901,975.97|9,703,349,679.56|
|Incl. Business income|10,383,901,975.97|9,703,349,679.56|
|Interest income|||
|Insurance fee earned|||
|Fee and commission received|||
|II. Total business cost|10,332,362,031.31|9,543,794,613.52|
|Incl. Business cost|9,551,141,344.56|8,936,582,024.72|
|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|44,236,996.97|39,612,841.03|
|Sales expense|172,469,064.80|185,265,677.78|
|Administrative expense|286,238,127.54|244,659,250.64|
|Financial expenses|271,282,298.04|137,674,819.35|
|Asset impairment loss|6,994,199.40|0.00|
|Plus: gains from change of fair value (“-“ for loss)|||
|Investment gains (“-“ for loss)|7,290,248.43|2,389,041.11|
|Incl. Investment gains from affiliates|||
|Exchange gains (“-“ for loss)|||
|III. Operational profit (“-“ for loss)|58,830,193.09|161,944,107.15|
|Plus: non-operational income|3,124,159.02|9,211,933.88|
|Less: non-operational expenditure|41,240.73|0.00|
|Incl. Loss from disposal of non-current assets|3,005,254.84|-47,821.49|
|IV. Gross profit (“-“ for loss)|61,913,111.38|171,156,041.03|
|Less: Income tax expenses|7,695,000.48|52,404,519.22|
|V. Net profit (“-“ for net loss)|54,218,110.90|118,751,521.81|
|Including: Net profit realized by the entity taken over before the takover|||
|Net profit attributable to the owners of parent company|27,917,466.35|134,839,655.66|
|Minor shareholders’ equity|26,300,644.55|-16,088,133.85|
|VI. Earnings per share:|--|--|
|(I) Basic earnings per share|0.01|0.04|
|(II) Diluted earnings per share|0.01|0.04|
|VII. Other misc. incomes|||
|Incl. Other misc. gains unable to be relocated to income account in succeeding|||
|fiscal period|||
|Other misc. gains able to be relocated to income account in succeeding|||
|fiscal period when certain conditions are satisfied|||
|VIII. Total of misc. incomes|54,218,110.90|118,751,521.81|
|Total of misc. incomes attributable to the owners of the parent company|27,917,466.35|134,839,655.66|
|Total misc gains attributable to the minor shareholders|26,300,644.55|-16,088,133.85|

 Legal representative: Wang Shu CFO: Han Ge Accounting Manager: Wang Shaoyu
Bengang Steel Plates Co., Ltd. The 3rd Quarterly Report 2014 (Full Text) 4. Income Statement (Parent Co.) of the Report Period
Bengang Steel Plate Co., Ltd.
In RMB Yuan
||||
|-|-|-|
||Amount of the Current|Amount of the Previous|
|Items|||
||Term|Term|
|||10,289,406,443.58|
|I. Turnover|10,818,281,641.87||
|||9,734,702,854.61|
|Less: Operation cost|10,228,260,342.02||
|||33,592,132.44|
|Business tax and surcharge|38,220,450.33||
|||138,957,955.97|
|Sales expense|129,947,728.58||
|||228,832,453.60|
|Administrative expense|269,491,394.49||
|||107,505,302.95|
|Financial expenses|245,405,900.43||
|Asset impairment loss|4,149,004.95||
|Plus: gains from change of fair value (“-“ for loss)|||
|||2,389,041.11|
|Investment gains (“-“ for loss)|4,010,958.92||
|Incl. Investment gains from affiliates|||
|||48,204,785.12|
|II. Operational profit (“-“ for loss)|-93,182,220.01||
|||8,764,688.58|
|Plus: Non business income|2,979,310.54||
|||0.00|
|Less: Non-business expenses|41,240.73||
|||-18,398.41|
|Incl. Loss from disposal of non-current assets|3,005,254.84||
|||56,969,473.70|
|III. Total profit (“-“ for loss)|-90,244,150.20||
|||2,996,831.22|
|Less: Income tax expenses|-431,239.64||
|||53,972,642.48|
|IV. Net profit (“-“ for net loss)|-89,812,910.56||
|||--|
|V. Earnings per share|--||
|||0.02|
|(I) Basic earnings per share|-0.03||
|||0.02|
|(II) Diluted earnings per share|-0.03||
|VI. Other misc gains|||
|Incl. Other misc. gains unable to be relocated to income account in succeeding|||
|fiscal period|||
|Other misc. gains able to be relocated to income account in succeeding|||
|fiscal period when certain conditions are satisfied|||
|||53,972,642.48|
|VII. Total of integrated income|-89,812,910.56||

 Legal representative: Wang Shu CFO: Han Ge Accounting Manager: Wang Shaoyu
Bengang Steel Plates Co., Ltd. The 3rd Quarterly Report 2014 (Full Text) 5. Income Statement (Consolidated) (Jan. 1– Sept. 30, 2014)
Bengang Steel Plate Co., Ltd.
In RMB Yuan
||||
|-|-|-|
||Amount of the Current|Amount of the Previous|
|Items|||
||Term|Term|
|I. Total revenue|30,196,578,257.78|30,429,211,975.94|
|Incl. Business income|30,196,578,257.78|30,429,211,975.94|
|Interest income|||
|Insurance fee earned|||
|Fee and commission received|||
|II. Total business cost|29,969,155,487.20|30,085,021,561.11|
|Incl. Business cost|27,690,267,425.28|28,189,391,110.20|
|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|109,330,862.45|114,789,011.40|
|Sales expense|544,974,481.95|519,194,212.83|
|Administrative expense|908,794,574.91|846,724,977.63|
|Financial expenses|683,300,684.32|395,146,402.80|
|Asset impairment loss|32,487,458.29|19,775,846.25|
|Plus: gains from change of fair value (“-“ for loss)|||
|Investment gains (“-“ for loss)|20,845,473.00|2,660,274.05|
|Incl. Investment gains from affiliates|||
|Exchange gains (“-“ for loss)|||
|III. Operational profit (“-“ for loss)|248,268,243.58|346,850,688.88|
|Plus: non-operational income|13,301,179.40|29,034,702.08|
|Less: non-operational expenditure|45,152.91|3,170,147.09|
|Incl. Loss from disposal of non-current assets|3,009,167.02|3,122,325.60|
|IV. Gross profit (“-“ for loss)|261,524,270.07|372,715,243.87|
|Less: Income tax expenses|18,136,666.39|70,642,412.37|
|V. Net profit (“-“ for net loss)|243,387,603.68|302,072,831.50|
|Including: Net profit realized by the entity taken over before the takover|||
|Net profit attributable to the owners of parent company|201,811,775.99|298,153,097.04|
|Minor shareholders’ equity|41,575,827.69|3,919,734.46|
|VI. Earnings per share:|--|--|
|(I) Basic earnings per share|0.06|0.10|
|(II) Diluted earnings per share|0.06|0.10|
|VII. Other misc. incomes|||
|Incl. Other misc. gains unable to be relocated to income account in succeeding|||
|fiscal period|||
|Other misc. gains able to be relocated to income account in succeeding|||
|fiscal period when certain conditions are satisfied|||
|VIII. Total of misc. incomes|243,387,603.68|302,072,831.50|
|Total of misc. incomes attributable to the owners of the parent company|201,811,775.99|298,153,097.04|
|Total misc gains attributable to the minor shareholders|41,575,827.69|3,919,734.46|

 Legal representative: Wang Shu CFO: Han Ge Accounting Manager: Wang Shaoyu
6. Income Statement (Parent Co.) (Jan. 1– Sept. 30, 2014)
Bengang Steel Plate Co., Ltd.
In RMB Yuan
||||
|-|-|-|
|Items|Amount of the|Amount of the|

Bengang Steel Plates Co., Ltd. The 3rd Quarterly Report 2014 (Full Text)
||||
|-|-|-|
||Current Term|Previous Term|
|I. Turnover|31,605,935,442.63|31,917,550,081.19|
|Less: Operation cost|29,672,441,206.07|30,260,572,143.55|
|Business tax and surcharge|89,878,270.23|98,786,355.13|
|Sales expense|423,641,369.03|379,931,341.91|
|Administrative expense|859,652,895.68|799,588,811.76|
|Financial expenses|580,991,377.30|294,731,968.16|
|Asset impairment loss|14,874,953.21|0.00|
|Plus: gains from change of fair value (“-“ for loss)|||
|Investment gains (“-“ for loss)|16,389,712.34|2,389,041.11|
|Incl. Investment gains from affiliates|||
|II. Operational profit (“-“ for loss)|-19,154,916.55|86,328,501.79|
|Plus: Non business income|11,686,855.84|25,244,529.79|
|Less: Non-business expenses|45,152.91|3,170,147.09|
|Incl. Loss from disposal of non-current assets|3,009,167.02|3,151,748.68|
|III. Total profit (“-“ for loss)|-7,513,213.62|108,402,884.49|
|Less: Income tax expenses|-2,181,457.35|0.00|
|IV. Net profit (“-“ for net loss)|-5,331,756.27|108,402,884.49|
|V. Earnings per share|--|--|
|(I) Basic earnings per share|0.00|0.03|
|(II) Diluted earnings per share|0.00|0.03|
|VI. Other misc gains|||
|Incl. Other misc. gains unable to be relocated to income account in succeeding fiscal period|||
|Other misc. gains able to be relocated to income account in succeeding fiscal period|||
|when certain conditions are satisfied|||
|VII. Total of integrated income|-5,331,756.27|108,402,884.49|

 Legal representative: Wang Shu CFO: Han Ge Accounting Manager: Wang Shaoyu
7. Cash Flow Statement (Consolidated)(Jan. 1– Sept. 30, 2014)
Bengang Steel Plate Co., Ltd.
In RMB Yuan
||||
|-|-|-|
||Amount of the|Amount of the|
|Items|||
||Current Term|Previous Term|
|I. Net cash flow from business operation|||
|Cash received from sales of products and providing of services|22,269,972,032.15|23,839,070,989.75|
|Net increase of customer deposits and capital kept for brother company|||
|Net increase of loans from central bank|||
|Net increase of inter-bank loans from other financial bodies|||
|Cash received against original insurance contract|||
|Net cash received from reinsurance business|||
|Net increase of client deposit and investment|||
|Net increase of trade financial asset disposal|||
|Cash received as interest, processing fee, and commission|||
|Net increase of inter-bank fund received|||
|Net increase of repurchasing business|||
|Tax returned|68,932,133.31|97,244,290.22|
|Other cash received from business operation|100,710,062.18|112,313,526.97|
|Sub-total of cash inflow from business activities|22,439,614,227.64|24,048,628,806.94|
|Cash paid for purchasing of merchandise and services|20,154,313,796.76|20,495,963,087.01|
|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|1,689,348,579.69|1,558,002,198.21|
|Taxes paid|501,971,818.94|1,098,703,524.75|
|Other cash paid for business activities|329,248,626.97|343,590,635.01|
|Sub-total of cash outflow from business activities|22,674,882,822.36|23,496,259,444.98|
|Cash flow generated by business operation, net|-235,268,594.72|552,369,361.96|

Bengang Steel Plates Co., Ltd. The 3rd Quarterly Report 2014 (Full Text)
||||
|-|-|-|
|II. Cash flow generated by investing|||
|Cash received from investment retrieving|8,214,370,000.00|1,600,000,000.00|
|Cash received as investment profit|20,845,473.00|2,660,274.05|
|Net cash retrieved from disposal of fixed assets, intangible assets, and other long-term|||
||131,010.80|19,590.00|
|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|8,235,346,483.80|1,602,679,864.05|
|Cash paid for construction of fixed assets, intangible assets and other long-term assets|1,237,913,719.32|1,065,985,621.88|
|Cash paid as investment|7,684,370,000.00|1,874,000,000.00|
|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|8,922,283,719.32|2,939,985,621.88|
|Net cash flow generated by investment|-686,937,235.52|-1,337,305,757.83|
|III. Cash flow generated by financing|||
|Cash received as investment|||
|Incl. Cash received as investment from minor shareholders|||
|Cash received as loans|10,190,304,700.00|10,308,720,350.00|
|Cash received from bond placing|||
|Other financing-related cash received|||
|Subtotal of cash inflow from financing activities|10,190,304,700.00|10,308,720,350.00|
|Cash to repay debts|7,619,071,691.10|9,252,584,295.85|
|Cash paid as dividend, profit, or interests|870,037,096.28|632,019,300.58|
|Incl. Dividend and profit paid by subsidiaries to minor shareholders|||
|Other cash paid for financing activities|||
|Subtotal of cash outflow due to financing activities|8,489,108,787.38|9,884,603,596.43|
|Net cash flow generated by financing|1,701,195,912.62|424,116,753.57|
|IV. Influence of exchange rate alternation on cash and cash equivalents|749,761.37|-7,289,640.16|
|V. Net increase of cash and cash equivalents|779,739,843.75|-368,109,282.46|
|Plus: Balance of cash and cash equivalents at the beginning of term|4,574,532,598.83|3,540,908,609.39|
|VI. Balance of cash and cash equivalents at the end of term|5,354,272,442.58|3,172,799,326.93|

 Legal representative: Wang Shu CFO: Han Ge Accounting Manager: Wang Shaoyu
8. Cash Flow Statement (Parent Co.)(Jan. 1– Sept. 30, 2014)
Bengang Steel Plate Co., Ltd.
In RMB Yuan
||||
|-|-|-|
||Amount of the Current|Amount of the Previous|
|Items|||
||Term|Term|
|I. Net cash flow from business operation|||
|||24,688,103,274.13|
|Cash received from sales of products and providing of services|23,551,146,202.09||
|||38,100,101.38|
|Tax returned|45,691,196.11||
|||106,895,396.40|
|Other cash received from business operation|93,429,119.81||
|||24,833,098,771.91|
|Sub-total of cash inflow from business activities|23,690,266,518.01||
|||22,167,017,324.25|
|Cash paid for purchasing of merchandise and services|22,084,905,911.37||
|||1,485,650,947.92|
|Cash paid to staffs or paid for staffs|1,582,544,300.92||
|||956,556,838.35|
|Taxes paid|333,013,170.45||
|||293,178,611.61|
|Other cash paid for business activities|264,828,429.24||
|||24,902,403,722.13|
|Sub-total of cash outflow from business activities|24,265,291,811.98||
|||-69,304,950.22|
|Cash flow generated by business operation, net|-575,025,293.97||

Bengang Steel Plates Co., Ltd. The 3rd Quarterly Report 2014 (Full Text)
||||
|-|-|-|
|II. Cash flow generated by investing|||
|||1,400,000,000.00|
|Cash received from investment retrieving|7,440,000,000.00||
|||2,389,041.11|
|Cash received as investment profit|16,389,712.34||
|Net cash retrieved from disposal of fixed assets, intangible assets, and||19,590.00|
||131,010.80||
|other long-term assets|||
|Net cash received from disposal of subsidiaries or other operational units|||
|Other investment-related cash received|||
|||1,402,408,631.11|
|Sub-total of cash inflow due to investment activities|7,456,520,723.14||
|Cash paid for construction of fixed assets, intangible assets and other||963,710,102.72|
||1,225,009,067.83||
|long-term assets|||
|||1,674,000,000.00|
|Cash paid as investment|6,910,000,000.00||
|Net cash received from subsidiaries and other operational units|||
|Other cash paid for investment activities|||
|||2,637,710,102.72|
|Sub-total of cash outflow due to investment activities|8,135,009,067.83||
|||-1,235,301,471.61|
|Net cash flow generated by investment|-678,488,344.69||
|III. Cash flow generated by financing|||
|Cash received as investment|||
|||7,138,929,600.00|
|Cash received as loans|8,626,994,500.00||
|Cash received from bond placing|||
|Other financing-related cash received|||
|||7,138,929,600.00|
|Subtotal of cash inflow from financing activities|8,626,994,500.00||
|||5,824,050,663.36|
|Cash to repay debts|5,839,225,142.81||
|||538,456,989.64|
|Cash paid as dividend, profit, or interests|787,964,325.84||
|Other cash paid for financing activities|||
|||6,362,507,653.00|
|Subtotal of cash outflow due to financing activities|6,627,189,468.65||
|||776,421,947.00|
|Net cash flow generated by financing|1,999,805,031.35||
|||-2,322,928.13|
|IV. Influence of exchange rate alternation on cash and cash equivalents|3,487,621.18||
|||-530,507,402.96|
|V. Net increase of cash and cash equivalents|749,779,013.87||
|||3,402,276,928.46|
|Plus: Balance of cash and cash equivalents at the beginning of term|4,304,424,513.46||
|||2,871,769,525.50|
|VI. Balance of cash and cash equivalents at the end of term|5,054,203,527.33||

 Legal representative: Wang Shu CFO: Han Ge Accounting Manager: Wang Shaoyu
II.Auditors’ Report
If the 3rd quarterly report been audited
[] Yes[V] No
The 3rd quarterly report has not been audited.