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苏威孚B(200581)公告正文

苏威孚B:2011年第一季度报告全文(英文版)

公告日期:2011-04-23

    Weifu High-Technology Group Co., Ltd.                           Full-Text of First Quarterly Report 2011
    Weifu High-Technology Group Co., Ltd.
    The First Quarterly Report 2011
    (Full Text)
    §1. Important Notes
    1.1 Board of Directors and the Supervisory Committee of Weifu High-Technology Group Co., Ltd.
    (hereinafter referred to as the Company) and its directors, supervisors and senior executives hereby
    confirm that there are no any fictitious statements, misleading statements, or important omissions
    carried in this report, and shall take all responsibilities, individual and/or joint, for the reality,
    accuracy and completion of the whole contents.
    1.2 The First Quarterly Financial Report of 2011 has not been audited by CPAs.
    1.3 Wang Weiliang, Principal of the Company; Sun Qingxian, Person in Charge of Accounting
    Works; Sun Qingxian, Person in Charge of Accounting Organ(Accounting Supervisor) hereby
    confirm that the Financial Report of the First Quarterly Report is true and complete.
    §2. Company Profile
    2.1 Main accounting highlights and financial indexes:
    Unit: RMB
    Changes of
    At the end of the    At the period-end
    increase/decrease
    report period        of the last year
    (%)
    Total assets (RMB)                              7,340,213,490.31 6,761,622,809.90                       8.56%
    Owners’    equity    attributable to
    shareholders of the listed company              4,396,937,862.89 4,106,208,383.62                       7.08%
    (RMB)
    Share capital (Share)                             567,275,995.00      567,275,995.00                    0.00%
    Net asset per share attributable to
    shareholders of listed company                               7.75                  7.24                 7.04%
    (RMB/Share)
    Changes of
    The same period
    In the report period                         increase/decrease
    of last year
    (%)
    Total operating income (RMB)                    1,617,839,294.12 1,188,216,542.85                      36.16%
    Net profit attributable to shareholders of
    290,729,479.27      114,030,846.25                 154.96%
    the listed company (RMB)
    Net cash flow arising from operating
    -107,850,912.52      -88,249,244.11
    activities (RMB)
    Net cash flow arising from operating
    -0.19                 -0.16
    activities per share (RMB/Share)
    Basic earnings per share (RMB/Share)                         0.51                  0.20              155.00%
    Diluted    earnings      per      share
    0.51                  0.20              155.00%
    (RMB/Share)
    Weighted average return on equity (%)                      6.84%                3.91%                   2.93%
    Weighted average return on equity after
    deducting non-recurring gains and                          6.84%                 3.97%                  2.87%
    losses (%)
    1
    Weifu High-Technology Group Co., Ltd.                         Full-Text of First Quarterly Report 2011
    Items of non-recurring gains and losses
    √ Applicable □ Inapplicable
    Unit: RMB
    Remarks
    Items of non-recurring gains and losses                   Amount
    (If applicable)
    Gains and losses from the disposal of non-current asset                   -218,377.94
    Other non-operating income and expenditure except for the
    53,278.07
    aforementioned items
    Impact on income tax                                                17,797.54
    Influenced amount of minority shareholders’ equity                  1,723.43
    Total                            -145,578.90         -
    2.2 Total number of shareholders at the end of the report period and shares held by the top
    ten shareholders with unrestricted conditions
    Unit: Share
    Total number of shareholders at the end of report period                                  42,816
    Particulars about the shares held by the top ten tradable shareholders with unrestricted conditions
    Amount of tradable
    shares with
    unrestricted
    Full Name of shareholder                                               Type of shares
    conditions held at
    the end of report
    period
    Domestically listed
    ROBERT BOSCH GMBH                                                      18,387,200
    foreign share
    China Construction Bank- Fullgoal Tianbo Innovation
    18,300,000 RMB common share
    Theme Stock Fund,
    GUOTAI JUNAN SECURITIES(HONGKONG)                                                 Domestically listed
    12,333,700
    LIMITED                                                                           foreign share
    China Construction Bank- Huashang Shengshi Growth
    11,097,272 RMB common share
    Stock Fund
    Domestically listed
    DRAGON BILLION CHINA MASTER FUND                                       11,066,646
    foreign share
    China Construction Bank- China AMC Advantage Growth
    10,379,508 RMB common share
    Stock Fund
    China Minsheng Banking Corp., Ltd. – Huashang Strategy
    8,971,691 RMB common share
    Selected Flexible Allocation Mix Stock Fund
    Agriculture Bank of China – Changsheng Tongde Theme
    8,500,504 RMB common share
    Growth Stock Fund
    Domestically listed
    GAOLING FUND,L.P.                                                       8,202,516
    foreign share
    Bank of Communications – Hua An Innovation Stock Fund                 8,180,000 RMB common share
    §3. Significant Events
    3.1 Particulars about material changes in items of main accounting statement and financial
    index, and explanations of reasons
    √Applicable         □Inapplicable
    1. Construction in process growth 65.56 percent over year-begin, mainly due to the increase of
    investment in technology reform.
    2
    Weifu High-Technology Group Co., Ltd.                         Full-Text of First Quarterly Report 2011
    2. Short-term loans growth 67.59 percent over year-begin, mainly because the rapidly development in
    business which caused the increase of bank short-tem loans.
    3. Operating income increased 36.16 percent over same period of last year, mainly due to the rapidly
    development in business of the Company.
    4. Sales expense decreased 43.88 percent over same period of last year, mainly because the strength on
    sales management, lower the procedures which down the expenses.
    5. Investment income increased 112.63 percent over same period of last year, mainly because the profit
    contributed from the stock-joint company – Boshi Auto Diesel System Co., Ltd. was dramatically
    growth.
    6. Operating profit increased 152.88 percent over same period of last year, mainly because the growth
    of main business and rapidly increase of investment income.
    7. Net profit attributable to owners’ of parent company increased 154.96 percent over same period of
    last year, mainly because the business profit gains a rapidly growth.
    8. Income tax expenses increased 325.38 percent over same period of last year, mainly because the
    dramatically growth in profit and the income tax correspondingly soaring in the report period.
    9. Net cash flow arising from financing activities decreased 34.31 percent over same period of last year,
    mainly because the Company adopts the concentrated capital management that reduced the bank loans.
    3.2 Analysis and explanation of significant events and their influence and solutions
    3.2.1 Particular about Qualified Opinion
    □Applicable            √Inapplicable
    3.2.2 Particular about fund offered to shareholder or its related parties by the Company and
    external guarantee with procedure violation
    □Applicable            √Inapplicable
    3.2.3 Particular about the significant contract of routine operation signed and implemented
    □Applicable            √Inapplicable
    3.2.4 Other
    √Applicable            □Inapplicable
    Proposal of shares private offering was deliberated and passed by the Second Extraordinary
    Shareholders’ General Meeting of 2010.
    The plan of share privately offering of the Company requires approval from relevant governments of
    Ministry of Commerce, and should put into practice after approval from CSRC, and will exercise on
    the plan approved by CSRC. (Found more details on Notice of Resolution of the 2nd Extraordinary
    Shareholders’ General Meeting of 2010 published on Securities Times, China Securities Journal,
    Hong Kong Commercial Daily and Juchao Website (www.cninfo.com.cn) dated 25 December 2010).
    The Plan has submitted to Ministry of Commerce for approval.
    3.3 Implementations of commitments by the Company, shareholders and actual controller
    Commitments make within the report period or persisted to the period by listed company and its
    director, supervisor and senior executives, shareholder with over 5 percent shares held and its actual
    controller
    √Applicable                □Inapplicable
    Item of Commitments            Promisee          Content of commitments           Implementation
    The total realized net profit of the
    Company from 2006 to 2008 was
    Wuxi      RMB 0.85 billion, and that in
    Industry 2008 was RMB 0.34 billion.
    Commitments         for      Share                                                      Implementation
    Development Based on circulating A shares
    Merger Reform                                                                          has accomplished
    Group Co., before the share reform, arranging
    Ltd.      additionally delivering 0.5 shares
    per 10 shares, the proportion of
    cash dividend from 2006 to 2008
    3
    Weifu High-Technology Group Co., Ltd.                         Full-Text of First Quarterly Report 2011
    was not lower than 50 percent of
    profit available for distribution of
    investors realized by the Company
    in those years.
    Commitments made in
    Acquisition Report or Reports Inapplicable                 Inapplicable                   Inapplicable
    on Change in Interests
    Commitments made in Material
    Inapplicable                 Inapplicable                   Inapplicable
    Assets Reorganization
    Commitments made in issuing Inapplicable                      Inapplicable                Inapplicable
    In order to promote the listed
    company’s steady and healthy
    development, fully mobilize senior
    executives so as to ensure to
    combine the interests of the
    The said
    governance and shareholders of
    commitment is
    Wuxi          the Company, Weifu Industry
    being
    Industry      Group committed: after Weifu
    Other commitments (including                                                          implemented, and
    Development High-tech finishing Share Merger
    additional commitments)                                                               would be
    Group Co., Reform, under related regulations
    performed since
    Ltd.          of the state and Wuxi government
    related policy is
    in terms of governance
    perfected.
    encouragement system of listed
    company, the Group would the
    stock incentive plan for
    management level of Weifu
    High-tech.
    3.4 Estimation of accumulative net profit from the beginning of the year to the end of next
    report period to be loss probably or the warning of its material change compared with the
    corresponding period of the last year and explanation of reason
    □Applicable             √Inapplicable
    3.5 Other significant events which need explanations
    3.5.1 Particulars about securities investment
    □Applicable             √Inapplicable
    3.5.2 Registration form for receiving research, communication and interview in the report
    period
    Contents discussed and
    Date             Place             Method            Investor
    materials supplied
    Bank of
    Conference room                                           Operation status and future
    2011-01-06                           Spot research Communications
    of the Company                                           development of the Company
    Schroders
    Conference room                                           Operation status and future
    2011-01-07                           Spot research China life, Franklin
    of the Company                                           development of the Company
    Conference room                     China Merchants Operation status and future
    2011-02-16                           Spot research
    of the Company                     Securities            development of the Company
    3.6 Particulars about derivatives investment
    □Applicable           √Inapplicable
    3.6.1 Particulars about derivatives investment held at the end of report period
    □Applicable           √Inapplicable
    4
    Weifu High-Technology Group Co., Ltd.                                  Full-Text of First Quarterly Report 2011
    §4. Appendix
    4.1 Balance sheet
    Prepared by Weifu High-Technology Group Co., Ltd.                         March 31, 2011           Unit: RMB
    Balance at period-end                 Balance at year-begin
    Items                 Consolidation      Parent Company      Consolidation       Parent Company
    Current assets:
    Monetary funds                       440,153,613.59      113,844,527.83     596,958,764.21       149,943,763.55
    Settlement provisions
    Capital lent
    Transaction finance asset
    Notes receivable                     928,172,190.22      334,796,016.10     835,266,266.32       291,611,147.00
    Accounts receivable                 1,273,126,939.90     662,696,163.98     999,798,439.30       567,607,398.18
    Accounts paid in advance             161,242,930.98       49,143,543.26     105,176,780.11         42,468,803.76
    Insurance receivable
    Reinsurance receivables
    Contract       reserve         of
    reinsurance receivable
    Interest receivable
    Dividend receivable             348,145,326.00      356,642,016.22                             8,496,690.22
    Other receivables                       6,260,157.64     209,714,516.96        6,892,216.92      137,067,355.21
    Purchase restituted       finance
    asset
    Inventories                         1,015,286,595.84     327,185,568.10     917,694,296.54       277,723,002.78
    Non-current asset due within
    one year
    Other current assets                    9,460,705.44                           9,210,782.24
    Total current assets                4,181,848,459.61   2,054,022,352.45   3,470,997,545.64     1,474,918,160.70
    Non-current assets:
    Granted loans and advances
    Finance asset available for
    sales
    Held-to-maturity investment
    Long-term account receivable
    Long-term equity investment         1,677,404,531.34   2,330,524,423.27   1,892,112,152.46     2,558,225,582.62
    Investment property                     4,831,654.06                           4,965,879.52
    Fixed assets                        1,100,426,560.71     534,913,750.15   1,110,068,115.28       538,628,218.28
    Construction in progress             235,522,152.48      190,034,500.42     142,256,732.63       125,932,175.31
    Engineering material
    Disposal of fixed asset
    5
    Weifu High-Technology Group Co., Ltd.                                 Full-Text of First Quarterly Report 2011
    Productive biological asset
    Oil and gas asset
    Intangible assets                     84,844,330.34      26,566,210.95      85,655,823.12         26,733,764.37
    Expense on Research and
    Development
    Goodwill                                1,784,086.79                          1,784,086.79
    Long-term expenses to be
    apportioned                            6,972,940.63                           7,473,629.75
    Deferred income tax asset             46,578,774.35      16,195,351.53      46,308,844.71         16,198,870.70
    Other non-current asset
    Total non-current asset             3,158,365,030.70   3,098,234,236.32   3,290,625,264.26    3,265,718,611.28
    Total assets                        7,340,213,490.31   5,152,256,588.77   6,761,622,809.90    4,740,636,771.98
    Current liabilities:
    Short-term loans                     452,487,493.42     422,487,493.42     270,000,000.00       240,000,000.00
    Loan from central bank
    Absorbing     deposit         and
    interbank deposit
    Capital borrowed
    Transaction          financial
    liabilities
    Notes payable                         333,322,030.70    149,908,487.00      389,985,533.69      200,278,487.00
    Accounts payable                    1,346,990,282.72    886,028,388.30    1,195,053,077.84      766,617,178.72
    Accounts received in advance           49,301,783.80     19,714,919.93       42,271,899.15       20,438,892.15
    Selling financial asset of
    repurchase
    Commission     charge     and
    commission payable
    Wage payable                         279,885,181.17     184,145,069.43     269,751,945.96       168,133,427.32
    Taxes payable                         80,627,688.79      19,772,775.50     107,903,963.31         28,582,184.41
    Interest payable                         490,000.00         320,000.00          490,000.00           320,000.00
    Dividend payable                   3,464,336.15                        18,696,539.18
    Other accounts payable                71,286,963.19      55,039,782.89      62,501,613.74         56,125,853.06
    Reinsurance payables
    Insurance contract reserve
    Security trading of agency
    Security sales of agency
    Non-current liabilities       due
    within 1 year
    Other current liabilities             34,484,063.05         818,616.49      24,330,259.35
    Total current liabilities           2,652,339,822.99   1,738,235,532.96   2,380,984,832.22    1,480,496,022.66
    Non-current liabilities:
    6
    Weifu High-Technology Group Co., Ltd.                                       Full-Text of First Quarterly Report 2011
    Long-term loans                          3,000,000.00                               3,000,000.00
    Bonds payable
    Long-term account payable               15,670,000.00                             15,670,000.00
    Special accounts payable
    Projected liabilities                                         1,481,745.84                               1,481,745.84
    Deferred income tax liabilities           2,801,008.40                              2,801,008.40
    Other non-current liabilities           14,593,000.00                             13,350,000.00
    Total non-current liabilities           36,064,008.40          1,481,745.84       34,821,008.40          1,481,745.84
    Total liabilities                     2,688,403,831.39     1,739,717,278.80     2,415,805,840.62    1,481,977,768.50
    Owner’s         equity         (or
    shareholders’ equity):
    Paid-in capital (or         share
    capital)                               567,275,995.00       567,275,995.00       567,275,995.00       567,275,995.00
    Capital public reserve               895,918,416.59       923,981,806.57       895,918,416.59       923,981,806.57
    Less: Inventory shares
    Reasonable reserve
    Surplus public reserve                 283,637,997.50       283,637,997.50       283,637,997.50       283,637,997.50
    Provision of general risk
    Retained profit                       2,650,105,453.80     1,637,643,510.90     2,359,375,974.53    1,483,763,204.41
    Balance difference of foreign
    currency translation
    Total       owner’s     equity
    attributable to parent company        4,396,937,862.89     3,412,539,309.97     4,106,208,383.62    3,258,659,003.48
    Minority interests                     254,871,796.03                            239,608,585.66
    Total owner’s equity                 4,651,809,658.92     3,412,539,309.97     4,345,816,969.28    3,258,659,003.48
    Total liabilities and owner’s
    equity                                7,340,213,490.31     5,152,256,588.77     6,761,622,809.90    4,740,636,771.98
    4.2 Profit statement
    Prepared by Weifu High-Technology Group Co., Ltd.                             Jan.-Mar. 2011          Unit: RMB
    Amount in this period                      Amount in last period
    Items                      Consolidation       Parent Company         Consolidation       Parent Company
    I. Total operating income               1,617,839,294.12       833,816,030.01     1,188,216,542.85        620,875,087.08
    Including: Operating income             1,617,839,294.12       833,816,030.01     1,188,216,542.85        620,875,087.08
    Interest income
    Insurance gained
    7
    Weifu High-Technology Group Co., Ltd.                                  Full-Text of First Quarterly Report 2011
    Commission     charge        and
    commission income
    II. Total operating cost            1,386,509,213.86      765,447,648.44     1,104,946,771.10        598,485,518.44
    Including: Operating cost           1,184,963,972.83      686,865,102.01       912,432,310.56        543,290,152.03
    Interest expense
    Commission       charge      and
    commission expense
    Cash surrender value
    Net amount of expense of
    compensation
    Net amount of withdrawal of
    insurance contract reserve
    Bonus expense of guarantee slip
    Reinsurance expense
    Operating tax and extras                9,261,487.17        2,765,743.21          7,273,043.66         2,886,121.77
    Sales expenses                        32,177,349.01        15,345,785.51        57,338,278.79         18,051,258.95
    Administration expenses              151,019,027.30        55,378,432.40       121,954,130.96         31,498,573.74
    Financial expenses                      9,744,277.83        5,015,193.28        10,783,524.08          7,035,121.44
    Losses of devaluation of asset              -656,900.28        77,392.03         -4,834,516.95        -4,275,709.49
    Add: Changing income of fair
    value(Loss is listed with “-”)
    Investment income (Loss is
    listed with “-”)                   109,618,904.88        96,625,366.65        51,554,055.40         40,645,604.74
    Including: Investment income
    on affiliated company and joint
    venture                              109,618,904.88        96,625,366.65        51,554,055.40         40,645,604.74
    Exchange income (Loss is listed
    with “-”)
    III. Operating profit (Loss is
    listed with “-”)                   340,948,985.14       164,993,748.22       134,823,827.15         63,035,173.38
    Add: Non-operating income                   210,625.24         39,500.48            332,671.41           213,053.41
    Less: Non-operating expense             2,096,976.41        1,044,989.10          4,419,244.04         3,467,563.52
    Including: Disposal loss of
    non-current asset                           344,580.11       190,448.07           3,005,127.90         2,780,963.25
    IV. Total Profit (Loss is listed
    with “-”)                          339,062,633.97       163,988,259.60       130,737,254.52         59,780,663.27
    Less: Income tax                      33,879,944.33        10,107,953.11          7,964,652.51           634,192.51
    V. Net profit (Net loss is listed
    with “-”)                          305,182,689.64       153,880,306.49       122,772,602.01         59,146,470.76
    Net profit attributable to
    owner’s equity of parent
    company                              290,729,479.27       153,880,306.49       114,030,846.25         59,146,470.76
    8
    Weifu High-Technology Group Co., Ltd.                                     Full-Text of First Quarterly Report 2011
    Minority shareholders’       gains
    and losses                             14,453,210.37                                 8,741,755.76
    VI. Earnings per share
    i. Basic earnings per share                        0.51                0.27                    0.2                   0.1
    ii. Diluted earnings per share                     0.51                0.27                    0.2                   0.1
    VII. Other consolidated income                                                                   0                       0
    VIII. Total consolidated income       305,182,689.64       153,880,306.49         122,772,602.01         59,146,470.76
    Total     consolidated    income
    attributable to owners of parent
    company                               290,729,479.27       153,880,306.49         114,030,846.25         59,146,470.76
    Total     consolidated    income
    attributable     to     minority
    shareholders                           14,453,210.37                                 8,741,755.76
    Concerning the enterprise consolidation under common control occurred in the period; the mergered
    party realized net profit before consolidation amounting to RMB00.00.
    4.3 Cash flow statement
    Prepared by Weifu High-Technology Group Co., Ltd.                Jan.-Mar. 2011     Unit: RMB
    Amount in this period                     Amount in last period
    Items                   Consolidation       Parent Company          Consolidation       Parent Company
    I. Cash flows arising from
    operating activities:
    Cash received from selling
    commodities and providing labor
    services                              1,456,797,712.42      761,419,287.88         711,875,710.60        544,597,363.13
    Net increase of customer
    deposit and interbank deposit
    Net increase of loan from
    central bank
    Net increase of capital borrowed
    from other financial institution
    Cash received from original
    insurance contract fee
    Net cash received from
    reinsurance business
    Net increase of insured
    savings and investment
    Net increase of disposal of
    transaction financial asset
    Cash received from interest,
    commission         charge       and
    commission
    Net increase of capital
    borrowed
    Net increase of returned business
    capital
    Write-back of tax received                  9,619,790.95                              4,695,694.80
    Other cash received concerning
    operating activities                        5,601,759.92        293,454.14            3,013,148.50         1,986,922.08
    9
    Weifu High-Technology Group Co., Ltd.                             Full-Text of First Quarterly Report 2011
    Subtotal of cash inflow arising
    from operating activities            1,472,019,263.29   761,712,742.02    719,584,553.90        546,584,285.21
    Cash paid for purchasing
    commodities and receiving labor
    service                              1,229,369,538.68   737,043,899.43    575,102,203.72        607,368,109.67
    Net increase of customer loans
    and advances
    Net increase of deposits in
    central bank and interbank
    Cash paid for original insurance
    contract compensation
    Cash paid for interest,
    commission         charge     and
    commission
    Cash paid for bonus of
    guarantee slip
    Cash paid to/for staff and
    workers                               127,421,249.42     50,906,182.11    133,901,456.62         68,940,714.76
    Taxes paid                            157,919,411.89     45,360,892.78     68,933,287.31         27,300,383.24
    Other cash paid concerning
    operating activities                   65,159,975.82     22,885,094.47     29,896,850.36          3,564,999.71
    Subtotal of cash outflow arising
    from operating activities            1,579,870,175.81   856,196,068.79    807,833,798.01        707,174,207.38
    Net cash flows arising from
    operating activities                 -107,850,912.52    -94,483,326.77    -88,249,244.11       -160,589,922.17
    II. Cash flows arising from
    investing activities:
    Cash received from recovering
    investment
    Cash received from investment
    income                                                                       9,250,000.00         9,250,000.00
    Net cash received from disposal
    of fixed, intangible and other
    long-term assets                           229,542.96        53,242.58       7,981,216.45         7,408,899.52
    Net cash received from
    disposal of subsidiaries and other
    units
    Other cash received concerning
    investing activities
    Subtotal of cash inflow from
    investing activities                       229,542.96        53,242.58     17,231,216.45         16,658,899.52
    Cash paid for purchasing fixed,
    intangible and other long-term
    assets                                143,013,092.88     83,260,554.37     41,569,130.98         14,355,694.14
    Cash paid for investment               23,818,800.00     23,818,800.00    123,265,900.00        124,885,900.00
    Net increase of mortgaged
    loans
    Net cash received from
    subsidiaries and other units
    Other cash paid concerning
    investing activities
    Subtotal of cash outflow from
    investing activities                  166,831,892.88    107,079,354.37    164,835,030.98        139,241,594.14
    10
    Weifu High-Technology Group Co., Ltd.                              Full-Text of First Quarterly Report 2011
    Net cash flows arising from
    investing activities                 -166,602,349.92     -107,026,111.79   -147,603,814.53       -122,582,694.62
    III. Cash flows arising from
    financing activities
    Cash received from absorbing
    investment                                  810,000.00                         1,490,490.00
    Including: Cash received
    from      absorbing   minority
    shareholders’ investment by
    subsidiaries                                810,000.00                         1,490,490.00
    Cash received from loans              361,512,141.78     331,512,141.78     758,317,956.54        706,050,000.00
    Cash received from issuing
    bonds
    Other cash received concerning
    financing activities
    Subtotal of cash inflow from
    financing activities                  362,322,141.78     331,512,141.78     759,808,446.54        706,050,000.00
    Cash paid for settling debts          179,024,648.36     149,024,648.36     498,048,025.08        442,048,025.08
    Cash paid for dividend and
    profit distributing or interest
    paying                                 20,005,382.76        4,221,179.73     10,925,741.04          7,239,868.19
    Including: Dividend and profit of
    minority shareholder paid by
    subsidiaries                           15,232,203.03
    Other cash paid concerning
    financing activities                                                           2,265,668.46
    Subtotal of cash outflow from
    financing activities                  199,030,031.12     153,245,828.09     511,239,434.58        449,287,893.27
    Net cash flows arising from
    financing activities                  163,292,110.66     178,266,313.69     248,569,011.96        256,762,106.73
    IV. Influence on cash and cash
    equivalents due to fluctuation in
    exchange rate
    V. Net increase of cash and cash
    equivalents                          -111,161,151.78      -23,243,124.87     12,715,953.32        -26,410,510.06
    Add: Balance of cash and cash
    equivalents at the period -begin      465,219,784.67      85,169,165.70     327,527,351.45         85,790,609.19
    VI. Balance of cash and cash
    equivalents at the period -end        354,058,632.89      61,926,040.83     340,243,304.77         59,380,099.13
    4.4 Auditor’ report
    Auditor’s opinions: Un-audited
    Board of Directors of
    Weifu High-Technology Group Co., Ltd.
    23 April 2011
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