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苏威孚B(200581)公告正文

苏威孚B:2014年第一季度报告全文(英文版)

公告日期:2014-04-29

                   无锡威孚高科技集团股份有限公司 2014 年第一季度报告全文




Weifu High-Technology Group Co., Ltd.
      First Quarterly Report 2014




              April 2014




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                                                             无锡威孚高科技集团股份有限公司 2014 年第一季度报告全文




                                     Section I. Important Notes

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 should guarantee the reality,
accuracy and completion of the quarterly report, there are no any fictitious statements, misleading statements or
important omissions carried in this report, and shall take legal responsibilities, individual and/or joint.


All Directors are attended the Board Meeting for Quarterly Report deliberation


Chen Xuejun, Principal of the Company; Ou Jianbin, Person in Charge of Accounting Works and Person in
Charge of Accounting Organ(Accounting Supervisor) hereby confirm that the Financial Report of the First
Quarterly Report is authentic, accurate and complete.




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                                                                     无锡威孚高科技集团股份有限公司 2014 年第一季度报告全文




           Section II. Main financial data and changes of shareholders

I. Main accounting data and financial indexes

Whether it has retroactive adjustment or re-statement on previous accounting data for accounting policy changed
and accounting error correction or not
□Yes √ No
                                                                                                     Changes of this period over same
                                                    Current Period        Same period of last year
                                                                                                           period of last year (%)

Operating income (RMB)                               1,683,594,542.57           1,334,022,363.78                                     26.2%

Net profit attributable to shareholders of the
                                                       428,270,821.48               258,992,721.69                              65.36%
listed company(RMB)

Net profit attributable to shareholders of the
listed company after deducting non-recurring           424,200,694.33               239,141,893.37                              77.38%
gains and losses(RMB)

Net cash flow arising from operating
                                                       138,667,588.16                93,309,331.45                              48.61%
activities(RMB)

Basic earnings per share (RMB/Share)                               0.42                       0.25                                    68%

Diluted earnings per share (RMB/Share)                             0.42                       0.25                                    68%

Weighted average ROE (%)                                        4.37%                       2.94%                                    1.43%

                                                                                                      Changes of this period-end over
                                                   End of this period        End of last period
                                                                                                      same period-end of last year (%)

Total assets (RMB)                                  13,847,905,922.01          13,074,232,730.91                                     5.92%

Net assets attributable to shareholder of listed
                                                    10,006,483,375.52           9,600,765,223.81                                     4.23%
company (RMB)

Items of non-recurring gains and losses
√ Applicable □ Not applicable
                                                                                                                               In RMB

                                                                                           Amount from year-begin to
                                          Item                                                                                 Note
                                                                                                     period-end

Gains/losses from the disposal of non-current asset (including the write-off that
                                                                                                               85,967.63
accrued for impairment of assets)

Governmental subsidy reckoned into current gains/losses (not including the subsidy
enjoyed in quota or ration according to national standards, which are closely relevant                        219,920.00
to enterprise’s business)

Gain/loss from commissioned investment or assets                                                            3,887,972.64


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                                                                       无锡威孚高科技集团股份有限公司 2014 年第一季度报告全文


Other non-operating income and expenditure except for the aforementioned items                             1,078,488.77

Less : impact on income tax                                                                                  691,206.36

        Impact on minority shareholders’ equity (post-tax)                                                  511,015.53

Total                                                                                                      4,070,127.15        --

Concerning the extraordinary profit (gain)/loss defined by Q&A Announcement No.1 on Information Disclosure for Companies
Offering Their Securities to the Public --- Extraordinary Profit/loss, and the items defined as recurring profit (gain)/loss according to
the lists of extraordinary profit (gain)/loss in Q&A Announcement No.1 on Information Disclosure for Companies Offering Their
Securities to the Public --- Extraordinary Profit/loss, explain reasons
□ Applicable √ Not applicable


II. Total number of shareholders at the end of this report period and top ten shareholders

                                                                                                                               In shares

Total number of shareholdersat the end of report period                                                                         43,650

                                                            Top ten shareholders

                                                                                                                    Number of share
                                                                                                     Amount of
                                                                          Proportion   Amount of                     pledged/frozen
             Shareholder’s name              Nature of shareholder        of shares                  restricted
                                                                           held (%)    shares held                  State of
                                                                                                     shares held               Amount
                                                                                                                     share

WUXI INDUSTRY DEVELOPMENT                    State-owned
                                                                               20%     204,059,398   118,967,998
CROUP CO., LTD.                              legal person

ROBERT BOSCH GMBH                            Foreign legal person              14%     142,841,400   115,260,600

                                             Domestic
China Construction Bank- Fullgoal
                                             non-state-owned legal            1.81%     18,500,346
Tianbo Innovation Theme Stock Fund,
                                             person

BBH BOS S/A FIDELITY FD - CHINA
                                             Foreign legal person             1.54%     15,722,693
FOCUS FD

                                             Domestic
BOCOM—Fullgoal Tianyi Value Security
                                             non-state-owned legal            1.43%     14,600,000
Investment Fund
                                             person

                                             Domestic
CCB—Yinhua Core Value Selected
                                             non-state-owned legal            1.08%     11,026,311
Securities Investment Fund
                                             person

                                             Domestic
National Social Security Fund-106
                                             non-state-owned legal            0.87%      8,924,504
portfolio
                                             person

                                             Domestic
NCI—Bonus—Individual Bonus
                                             non-state-owned legal            0.86%      8,723,489
-018L-FH002 Shen
                                             person


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                                                                  无锡威孚高科技集团股份有限公司 2014 年第一季度报告全文


                                          Domestic
National Social Security Fund-103
                                          non-state-owned legal           0.8%         8,175,789
portfolio
                                          person

                                          Domestic
Bosch Value Growth Securities
                                          non-state-owned legal          0.68%         6,898,803
Investment Fund
                                          person

                                        Top ten shareholders with unrestricted shares held

                                                                         Amount of                         Type of shares
                       Shareholder’s name                          unrestricted shares
                                                                                                         Type                Amount
                                                                           held

WUXI INDUSTRY DEVELOPMENT CROUP CO., LTD.                                   85,091,400 RMB common share                      85,091,400

                                                                                          Domestically listed foreign
ROBERT BOSCH GMBH                                                           27,580,800                                       27,580,800
                                                                                          share

China Construction Bank-Fullogoal Tianbo Innovation Theme
                                                                            18,500,346 RMB common share                      18,500,346
Stock Securities Investment Fund

                                                                                          Domestically listed foreign
BBH BOS S/A FIDELITY FD - CHINA FOCUS FD                                    15,722,693                                       15,722,693
                                                                                          share

BOCOM—Fullgoal Tianyi Value Security Investment Fund                       14,600,000 RMB common share                      14,600,000

CCB—Yinhua Core Value Selected Securities Investment Fund                  11,026,311 RMB common share                      11,026,311

National Social Security Fund-106 portfolio                                   8,924,504 RMB common share                      8,924,504

NCI—Bonus—Individual Bonus -018L-FH002 Shen                                 8,723,489 RMB common share                      8,723,489

National Social Security Fund-103 portfolio                                   8,175,789 RMB common share                      8,175,789

Bosch Value Growth Securities Investment Fund                                 6,898,803 RMB common share                      6,898,803

                                                                    Among the top ten shareholders, the Company knew there has
                                                                    no    associated      relationship     between    Wuxi     Industry
                                                                    Development Croup Co., Ltd., the first largest shareholder of
                                                                    the Company, and other shareholders; and they do not belong
Note of related relationship among the above shareholders and to the consistent actionist regulated by the Management
concerted actors                                                    Measure      of    Information       Disclosure   on    Change    of
                                                                    Shareholding for Listed Company. Fullgoal Tianbo Innovation
                                                                    Theme Stock Securities Investment Fund and Fullgoal Tianyi
                                                                    Value Security Investment Fund shares same fund manager
                                                                    –Fullgoal Fund Management Co., Ltd.


Agree to buy-back dealings occurred in Period by shareholders

□Yes √No




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                                                           无锡威孚高科技集团股份有限公司 2014 年第一季度报告全文




                                     Section III. Significant Events

I. Particulars about material changes in items of main accounting statement and financial
index and explanations of reasons

1. Account receivable: incrasing RMB 412.1188 million in period-end over that of year beginning with 36.38% up,

mainly due to the growth of sales;

2. Interest payable: decrasing RMB 48.8870 million in period-end over that of year beginning with 95.04% down,

mainly because receivable interest of last year was collected in the Period;

3. Held-to-maturity investment: decrasing RMB 200 million in period-end over that of year beginning with 50%

down, mainly because the entrust finacnial investment due within one year was transferred to other current assets;

4. Constrution in process: incrasing RMB 98.5821 million in period-end over that of year beginning with 49.42%

up, mainly due to the investment for Weifu Industrial Park;

5. Taxes payable: incrasing RMB 45.3886 million in period-end over that of year beginning with 103.59% up,

mainly because payable income tax increased;

6. Operation expenses: increased RMB 13.2069 million form a year earlier with 32.06% up mainly due to the

growth of operation revenue;

7. Administration expenses: increased RMB 54.1872 million form a year earlier with 46.66% up mainly due to the

growth of salary for employee;

8. Investment earnings: increased RMB 152.5489 million form a year earlier with 123.20% up, mainly because

the stock jointly enterprise of the Company gains more profit;

9. Ne profit: increased RMB 173.9037 million form a year earlier with 64.68% up, mainly because business of the

Company growth steadily in the Period and profit from stock jointly enterprise increased;

10. Net cash flow from operation activities: increased RMB 45.3583 million form a year earlier with 48.61% up

mainly due to the growth of sales;

11. Net cash flow from financing activities: decreased RMB 221.3367 million form a year earlier with 97.22%

down mainly due to the y-o-y down in loans in the Period.


II. Analysis and explanation of significant events and their influence and solutions

Explanation on part of the projects with fund-raised investment in reporting period:

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                                                                   无锡威孚高科技集团股份有限公司 2014 年第一季度报告全文


1. R& D AS WELL AS INDUSTRIALIZATION OF WAPS AND CAPACITY PROMOTION FOR PARTS OF

DIESEL COMMON RAIL SYSTEM

Currently, with the promotion of emission standards of National IV, common rail products have complete cover

the market of National IV, the common rail components matching the Bosch diesel common rail products are in

short supply; as for components involved in the project with diesel common rail system, the Company is in the

process of improving capacity so far.

2. Industrial park project:

The project is now well under way and expected to move at end of 2014.

3. Auto power battery materials and power battery research project

Due to a great uncertainty in technology and policy, the Company was prudent for this project and continued to

follow development of power battery and would make decisions if needed.

                                                                               Date for      Information index for temporary report
                                 Overview
                                                                           disclosure                       disclosure

On 21 January 2012, the CSRC approve and issue the ―Reply of
Approval of Privately Placement of Weifu High-Technology Group Co.,
Ltd.‖ (Zheng Jian Xu Ke [2012] No.: 109) for 112,858,000 new shares
offering privately at most.        On 10 February 2012, the ―Capital                     ‖Report of Privately Placement and
Verification Report‖ (Su Gong W [2012] No. B006) was issued by 2012-02-2 Summary of Listed Company Statement‖
Jiangsu Gongzheng Tianye Certified Public Accountants Co., Ltd: ended 8                   (No.: 2012-12) public on Juchao Website
as 10 February 2012, Weifu High-Tech offered 112,858,000 RMB                              (www.cninfo.com.cn)
common shares (A-share), total fund raised amounting as RMB
2,866,028,910.00, and net amount totally raised RMB 2,850,124,252.93
after offering expenses RMB 15,904,657.07 deducted.

The ―Proposal of Changing the Investment Plan with Raised Proceeds‖                      ―Notice of Changing Investment Plan of

has been deliberated and approve by 9th meeting of 7th session of the 2013-03-2 Fund Raised Projects ‖ (No.: 2013-007)
Board held on 26 March 2013 and annual general meeting of 2012 held 8           public on Juchao Website
on 23 May 2013 respectively. As for the of the raised fund projects,                      (www.cninfo.com.cn)

investment amount for the industrialization of tail treatment system was                  ―Resolution Notice of Annual General
                                                                           2013-05-2
changed from RMB 260 million to RMB 340 million, the adjusted part                        Meeting of 2012‖ (No.: 2013-014) public on
                                                                           4
will supply with self-owned capital totally.                                              Juchao Website (www.cninfo.com.cn)

                                                                                          ―Specific Report of Deposit and Application
Specific Report of Deposit and Application of Fund Raised for year of 2013-03-2
                                                                                          of Fund Raised for year of 2012‖ public on
2012                                                                       8
                                                                                          Juchao Website (www.cninfo.com.cn)

                                                                                          ‖ Specific Report for the Deposit and
Specific Report for the Deposit and Utilization for Fund Raised for year   2014-04-1 Utilization for Fund Raised for year of 2013‖
of 2013                                                                    5              public on Juchao Website
                                                                                          (www.cninfo.com.cn)


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                                                                   无锡威孚高科技集团股份有限公司 2014 年第一季度报告全文


III. Commitments from the Company or shareholder with over 5% share held in reporting
period or continues to reporting period

                                                                                                                          Implemen
  Item of Commitments            Promisee                    Content of commitments                       Date     Term
                                                                                                                            tation

                                             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 governance                      Implemen
                           Wuxi Industry     and shareholders of the Company, Weifu Industry Group                        ted after
                                                                                                        2006-04
Share Merger Reform        Development       committed: after Weifu High-tech finishing Share Merger                      related
                                                                                                        -05
                           Group Co., Ltd Reform, under related regulations of the state and Wuxi                         policy
                                             government in terms of governance encouragement                              released
                                             system of listed company, the Group would the stock
                                             incentive plan for management level of Weifu High-tech.

Commitments made in
acquisition report or
equity change report

Commitments in assets
reorganization

                                             The privately offering of the Company totally issue
                           Wuxi Industry
                                             112,858,000 A-shares to substantial shareholder Wuxi
Commitments in initial     Development
                                             Industry Group and foreign strategy investor ROBERT                          Implemen
public offering or         Group Co., Ltd
                                             BOSCH GMBH. The above said shares are listed for                             ting
refinancing                and ROBERT
                                             trading in Shenzhen Stock Exchange since 29 February
                           BOSCH GMBH
                                             2012 with 36-month restriction

Other commitments to
minority shareholders of
the Company

Perform the commitment
                           Yes
promptly or not

Specific reason
For non-performance and
                           Not applicable
the next plan (if
applicable)


IV. Forecast of operation performance from Jan. – June of 2014

Estimation on 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 on reason




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                                                                          无锡威孚高科技集团股份有限公司 2014 年第一季度报告全文


□ Applicable       √ Not applicable


V. Securities Investment


                                                               Propo

                                                               rtion

                                                                 of

                                                               stock-
                                                  Amount of                           Proportio
                                                                        Amount of                                   Gains
                                                  stock-holdi holdin                   n of
Variet                   Short                                                                 Book value at       and loss
          Code of                       Initial     ng at the        stock-holding stock-hol                                  Account Sourc
 y of                   form of                                g at                            the end of the       in the
          securitie                  investment    beginning                          ding at                                    ing       e of
securit                 securiti                                      at the end of                period          reportin
               s                    cost(RMB)        of the     the                 the end of                                 subject stock
  ies                        es                                                                   (RMB)               g
                                                     period            the period the period
                                                              begin                                                (RMB)
                                                    (Share)                             (%)
                                                                         (Share)
                                                               ning

                                                               of the

                                                               period

                                                                (%
                                                                                                                              Financia
                                                                                                                                          Subsc
                                                                                                                              l assets
Stock 600841            SDEC 199,208,000.00 23,680,000 2.72%             23,680,000      2.72% 247,692,800.00                             riptio
                                                                                                                              available
                                                                                                                                          n
                                                                                                                              for sales

                                                                                                                              Financia
                        Miracle                                                                                                           Subsc
                                                                                                                              l assets
Stock 002009 Logisti                69,331,500.00 9,300,000 2.9%          9,300,000       2.9% 110,019,000.00                             riptio
                                                                                                                              available
                        cs                                                                                                                n
                                                                                                                              for sales

Total                              268,539,500.00 32,980,000     --      32,980,000      --       357,711,800.00       0.00       --          --

Disclosure date of                 2012-03-24
securities investment
                                   2013-06-04
approval of Board report

Disclosure date of
securities investment
approval of Board
report(if applicable)

Explanation on holding equity of other listed company
√Applicable       □   Not applicable

On 24th March 2012, the Company approved participation in the subscription of SDEC non-public offering A share in 23rd Meeting of
6th Session of the Board, subscribing for SDEC non-public offering stocks 14.8 million shares at the price of RMB 13.46 per share,
which proportion in total stocks after SDEC non-public offering stocks was 2.72%.The company committed no transfer after the

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                                                                         无锡威孚高科技集团股份有限公司 2014 年第一季度报告全文


subscription in 12 months, restricted period (2012-3-23-2013-3-22).SDEC implemented the plan of annual profit distribution and
converting capital reserve into share capital for 2011 on 4th June 2012.( sending cash of RMB 0.5(tax included) per every 10 shares,
converting 6 shares per every 10 shares. In the reporting, the company held SDEC 23.68 million shares.


In May 2013, in line with the define authority in ―Decision-making System of Major Investment and Financial‖, being discussed by
the management and approved from the Chairman, the Company decide to subscribe 9.3 million private placement shares from
Miracle Logistics with RMB 7.455 per share, a 2.9 percent in total share capital of Miracle Logistics after placement. The Company
committed no transfer after the subscription in 12 months, restricted period (4 June 2013 to 3 June 2014).at th e end of the reporting
period the Company held Miracle Logistics 9.3 million shares.




VI. Derivative Investment

                                                                                                                             In ten thousand Yuan

                                                                                                                              Ratio of
                                                                                                                             investmen
                                                                                                  Amount
                                                                                                                             t amount
                                                                                                  of reserve
                                                                                                                                 at
                                                                                                     for        Investme
                          Whether                                                                                            period-en     Actual
              Related                                                             Investment devaluati nt amount
                          related                  Initial                                                                    d in net gains/loss
 Operator relationsh                  Type                       Start   End      amount at         on of           at
                          trade or              investment                                                                    assets of    es in
                  ip                                             date    date    period-begin withdrawi period-en
                            not                                                                                                 the        period
                                                                                                   ng (if           d
                                                                                                                             Company
                                                                                                  applicable
                                                                                                                                 at
                                                                                                      )
                                                                                                                             period-en
                                                                                                                               d (%)

Total                                                        0    --      --                  0                          0            0%            0

Capital resource                                Not applicable

Disclosure date for approval from the
Board for investment of derivatives (if
applicable)

Disclosure date for approval from board of
shareholders for investment of derivatives
(if applicable)



VII. Registration form for receiving research, communication and interview in the report period
                                              Type of                                                          Contents discussed and materials
    Date          Place      Method                                            Investor
                                             investors                                                                     supplied
                                                             Eighteen persons from CITIC, Fullgoal
                                                             Fund, Hua’An Fund, Penghua Fund,              Communicated with the
2014-03-0 Office of       Field
                                       Institution           South Korea Investment, Future Assets,         Company with their-owned
4             the Board research
                                                             Tokyo Sea Assets Company, Neuberger            concerned issues
                                                             Berman, Runhui Investment, Goldstate


                                                                                                                                                    10
            无锡威孚高科技集团股份有限公司 2014 年第一季度报告全文


Securities, China International Fund
Management, Zhizhu Investment, BOC
International Assets Management and
Hutai-PineBridge Investment




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                                                     无锡威孚高科技集团股份有限公司 2014 年第一季度报告全文




                                      Section IV. Financial Statement

I. Financial statement

1. Consolidate balance sheet

Prepared by Weifu High-Technology Group Co., Ltd
                                                                                                      In RMB

                                           Item                        Closing balance     Opening balance

Current assets:

     Monetary fund                                                      2,378,722,013.16    2,447,555,672.40

     Settlement provisions

     Capital lent

     Transaction finance asset

     Notes receivable                                                   1,189,813,856.61    1,090,280,233.40

     Account receivable                                                 1,544,954,219.30    1,132,835,466.09

     Accounts paid in advance                                             216,787,531.71      174,401,410.49

     Insurance receivable

     Reinsurance receivables

     Contract reserve of reinsurance receivable

     Interest receivable                                                    2,551,601.24       51,438,634.58

     Dividend receivable                                                   22,937,046.01       22,937,046.01

     Other receivables                                                     15,166,552.99       11,486,223.97

     Purchase restituted finance asset

     Inventories                                                          989,829,769.81      986,790,491.70

     Non-current asset due within one year

     Other current assets                                               1,661,952,674.26    1,580,056,398.02

Total current assets                                                    8,022,715,265.09    7,497,781,576.66

Non-current assets:

  Granted entrust loans and advances

     Financial assets available for sale                                  357,711,800.00      385,009,400.00

     Hold-to-maturity investment                                          200,000,000.00      400,000,000.00

     Long-term account receivable

     Long-term equity investment                                        2,994,981,440.24    2,622,500,708.20



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                                                无锡威孚高科技集团股份有限公司 2014 年第一季度报告全文


     Investment real estate                                            3,310,431.15        3,424,363.44

     Fixed assets                                                  1,473,417,101.18    1,471,037,804.88

     Construction in process                                         298,045,454.00     199,463,338.80

     Engineering material

     Disposal of fixed asset

     Productive biological assets

     Oil and gas asset

     Intangible assets                                               358,368,600.42     360,284,868.85

     Expense on Research and Development

     Goodwill                                                          1,784,086.79        1,784,086.79

 Long-term expenses to be apportioned                                 15,630,400.56      16,331,775.24

     Deferred income tax asset                                       121,941,342.58     116,614,808.05

     Other non-current asset

Total non-current asset                                            5,825,190,656.92    5,576,451,154.25

Total assets                                                      13,847,905,922.01   13,074,232,730.91

Current liabilities:

     Short-term loans                                                409,000,000.00     399,500,000.00

     Loan from central bank

     Absorbing deposit and interbank deposit

     Capital borrowed

     Transaction financial liabilities

     Notes payable                                                   469,289,204.30     383,418,397.65

     Accounts payable                                              1,687,204,235.55    1,476,781,979.39

     Accounts received in advance                                     35,354,822.39      42,297,015.90

     Selling financial asset of repurchase

     Commission charge and commission payable

     Wage payable                                                    307,955,710.44     295,838,993.71

     Taxes payable                                                    89,203,203.12      43,814,597.61

     Interest payable                                                  1,331,622.22         996,716.67

     Dividend payable

     Other accounts payable                                           84,685,590.05      87,324,894.86

     Reinsurance payables

     Insurance contract reserve

     Security trading of agency



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                                                                 无锡威孚高科技集团股份有限公司 2014 年第一季度报告全文


     Security sales of agency

     Non-current liabilities due within 1 year

     Other current liabilities                                                         30,941,251.03      26,314,544.23

Total current liabilities                                                           3,114,965,639.10    2,756,287,140.02

Non-current liabilities:

     Long-term loans                                                                   60,000,000.00      60,000,000.00

     Bonds payable

     Long-term account payable                                                         19,191,818.00      19,191,818.00

     Special accounts payable                                                           7,390,735.29      25,655,817.40

     Projected liabilities

     Deferred income tax liabilities                                                   15,815,996.15      19,938,394.40

     Other non-current liabilities                                                    215,112,122.72     195,506,040.61

Total non-current liabilities                                                         317,510,672.16     320,292,070.41

Total liabilities                                                                   3,432,476,311.26    3,076,579,210.43

Owners’ equity(or Shareholders’ equity):

  Paid-in capital( or share capital)                                                1,020,200,992.00    1,020,200,992.00

     Capital public reserve                                                         3,705,839,144.57    3,729,042,104.57

     Less: Inventory shares

     Reasonable reserve                                                                 1,905,431.42        1,255,141.19

     Surplus public reserve                                                           433,608,687.76     433,608,687.76

     Provision of general risk

     Retained profit                                                                4,844,929,119.77    4,416,658,298.29

     Balance difference of foreign currency translation

Total owner’s equity attributable to parent Company                               10,006,483,375.52    9,600,765,223.81

     Minority interests                                                               408,946,235.23     396,888,296.67

Total owner’s equity( or shareholders equity)                                     10,415,429,610.75    9,997,653,520.48

Total liabilities and owner’s equity( or shareholders equity)                     13,847,905,922.01   13,074,232,730.91


Legal Representative: Chen Xuejun                                     Person in charge of accounting works: Ou Jianbin
Person in charge of accounting institute: Ou Jianbin




                                                                                                                      14
                                                   无锡威孚高科技集团股份有限公司 2014 年第一季度报告全文


2. Balance sheet of parent company

Prepared by Weifu High-Technology Group Co., Ltd
                                                                                                   In RMB

                                           Item                    Closing balance      Opening balance

Current assets:

     Monetary fund                                                   1,572,900,988.43     1,485,894,410.54

     Transaction finance asset

     Notes receivable                                                  344,197,054.45       348,205,626.83

     Account receivable                                                794,095,063.05       665,090,625.52

     Accounts paid in advance                                          122,463,729.87        85,580,666.96

     Interest receivable                                                                     45,000,000.00

     Dividend receivable                                                21,925,117.50        21,925,117.50

     Other receivables                                                   3,094,197.69         2,907,285.14

     Inventory                                                         240,249,475.38       226,017,992.28

     Non-current asset due within one year

     Other current assets                                            1,651,100,000.00     1,562,100,000.00

Total current assets                                                 4,750,025,626.37     4,442,721,724.77

Non-current assets:

     Financial assets available for sale                               357,711,800.00       385,009,400.00

     Hold-to-maturity investment                                       200,000,000.00       400,000,000.00

     Long-term account receivable

     Long-term equity investment                                     3,972,641,227.74     3,632,576,088.69

     Investment real estate

     Fixed assets                                                      641,750,776.03       640,596,120.54

     Construction in process                                           226,337,563.42       136,613,517.22

     Engineering material

     Disposal of fixed asset

     Productive biological assets

     Oil and gas asset

     Intangible assets                                                 197,620,169.63       198,885,843.05

     Expense on Research and Development

     Goodwill

 Long-term expenses to be apportioned

     Deferred income tax asset                                          69,627,634.29        64,315,609.74


                                                                                                          15
                                                 无锡威孚高科技集团股份有限公司 2014 年第一季度报告全文


     Other non-current asset

Total non-current asset                                            5,665,689,171.11    5,457,996,579.24

Total assets                                                      10,415,714,797.48    9,900,718,304.01

Current liabilities:

     Short-term loans                                                220,000,000.00      220,000,000.00

     Transaction financial liabilities

     Notes payable                                                   212,180,000.00      191,790,000.00

     Accounts payable                                                655,739,888.26      596,257,017.04

     Accounts received in advance                                     16,229,903.16       17,577,849.84

     Wage payable                                                    206,297,873.51      183,313,610.02

     Taxes payable                                                    33,121,460.09       38,260,172.61

     Interest payable                                                    340,511.11          340,511.11

     Dividend payable

     Other accounts payable                                          376,041,284.92      219,154,760.28

     Non-current liabilities due within 1 year

     Other current liabilities                                         1,004,255.04

Total current liabilities                                          1,720,955,176.09    1,466,693,920.90

Non-current liabilities:

     Long-term loans

     Bonds payable

     Long-term account payable

     Special accounts payable                                          7,390,735.29        7,390,735.29

     Projected liabilities

     Deferred income tax liabilities                                  13,375,845.00       17,470,485.00

     Other non-current liabilities                                   181,898,815.24      181,898,815.24

Total non-current liabilities                                        202,665,395.53      206,760,035.53

Total liabilities                                                  1,923,620,571.62    1,673,453,956.43

Owners’ equity(or Shareholders’ equity):

  Paid-in capital( or share capital)                               1,020,200,992.00    1,020,200,992.00

     Capital public reserve                                        3,737,044,514.50    3,760,247,474.50

     Less: Inventory shares

     Reasonable reserve                                                 215,180.91

     Surplus public reserve                                          433,608,687.76      433,608,687.76

     Provision of general risk



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                                                                     无锡威孚高科技集团股份有限公司 2014 年第一季度报告全文


     Retained profit                                                                   3,301,024,850.69    3,013,207,193.32

     Balance difference of foreign currency translation

Total owner’s equity( or shareholders equity)                                         8,492,094,225.86    8,227,264,347.58

Total liabilities and owner’s equity( or shareholders equity)                        10,415,714,797.48    9,900,718,304.01


Legal Representative: Chen Xuejun                                         Person in charge of accounting works: Ou Jianbin
Person in charge of accounting institute: Ou Jianbin


3. Consolidated profit statement

Prepared by Weifu High-Technology Group Co., Ltd
                                                                                                                     In RMB

                                         Item                                         Current Period       Last Period

I. Total operating income                                                              1,683,594,542.57    1,334,022,363.78

Including: Operating income                                                            1,683,594,542.57    1,334,022,363.78

             Interest income

             Insurance gained

             Commission charge and commission income

II. Total operating cost                                                               1,491,542,332.33    1,156,859,926.76

Including: Operating cost                                                              1,268,902,399.56    1,011,573,663.63

     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                                                             11,550,822.68        8,486,738.35

     Sales expenses                                                                       54,405,371.09       41,198,479.20

     Administration expenses                                                             170,308,830.62      116,121,594.31

     Financial expenses                                                                  -10,321,824.79      -19,793,631.85

     Losses of devaluation of asset                                                        -3,303,266.83        -726,916.88

     Add: Changing income of fair value(Loss is listed with ―-‖)

     Investment income (Loss is listed with ―-‖)                                       276,368,704.68      123,819,836.71

     Including: Investment income on affiliated Company and joint venture                272,480,732.04      101,207,970.27

     Exchange income (Loss is listed with ―-‖)


                                                                                                                          17
                                                                     无锡威孚高科技集团股份有限公司 2014 年第一季度报告全文


III. Operating profit    (Loss is listed with ―-‖)                                     468,420,914.92       300,982,273.73

     Add: Non-operating income                                                             1,944,072.88         1,219,840.73

     Less: Non-operating expense                                                           2,163,476.86         1,761,123.83

     Including: Disposal loss of non-current asset                                              81,365.11         284,847.10

IV. Total Profit   (Loss is listed with ―-‖)                                           468,201,510.94       300,440,990.63

     Less: Income tax                                                                     25,430,683.49        31,573,832.27

V. Net profit (Net loss is listed with ―-‖)                                            442,770,827.45       268,867,158.36

     Including: net profit realized for merged party before combination

     Net profit attributable to owner’s equity of parent Company                        428,270,821.48       258,992,721.69

     Minority shareholders’ gains and losses                                             14,500,005.97         9,874,436.67

VI. Earnings per share                                                                     --                   --

i. Basic earnings per share                                                                          0.42                 0.25

ii. Diluted earnings per share                                                                       0.42                 0.25

VII. Other consolidated income                                                           -23,202,960.00        19,322,880.00

VIII. Total consolidated income                                                          419,567,867.45       288,190,038.36

     Total consolidated income attributable to owners of parent Company                  405,067,861.48       278,315,601.69

     Total consolidated income attributable to minority shareholders                      14,500,005.97         9,874,436.67


Legal Representative: Chen Xuejun                                         Person in charge of accounting works: Ou Jianbin
Person in charge of accounting institute: Ou Jianbin


4. Profit statement of parent company

Prepared by Weifu High-Technology Group Co., Ltd
                                                                                                                      In RMB

                                            Item                                      Current Period        Last Period

I. Operation income                                                                      675,711,019.98       562,870,659.40

  Less: Operation cost                                                                   546,962,794.09       453,908,599.37

     Operating tax and extras                                                              3,549,069.78         3,263,295.86

     Sales expenses                                                                       36,289,027.93        18,937,451.86

     Administration expenses                                                              81,880,571.35        39,299,617.52

     Financial expenses                                                                  -12,454,490.05       -19,084,039.11

     Losses of devaluation of asset                                                       -3,400,000.00

     Add: Changing income of fair value(Loss is listed with ―-‖)

     Investment income (Loss is listed with ―-‖)                                       262,810,689.78       114,656,830.58

        Including: Investment income on affiliated Company and joint venture             259,395,560.45        92,044,964.14


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                                                                    无锡威孚高科技集团股份有限公司 2014 年第一季度报告全文


II. Operating profit    (Loss is listed with ―-‖)                                      285,694,736.66       181,202,564.48

     Add: Non-operating income                                                             1,655,773.66           661,676.64

     Less: Non-operating expense                                                             765,888.26           659,161.29

     Including: Disposal loss of non-current asset                                               77,177.24            49,478.63

III. Total Profit   (Loss is listed with ―-‖)                                          286,584,622.06       181,205,079.83

     Less: Income tax                                                                     -1,233,035.31        13,696,312.64

IV. Net profit (Net loss is listed with ―-‖)                                           287,817,657.37       167,508,767.19

V. Earnings per share                                                                       --                   --

i. Basic earnings per share

ii. Diluted earnings per share

VI. Other consolidated income                                                            -23,202,960.00        19,322,880.00

VII. Total consolidated income                                                           264,614,697.37       186,831,647.19


Legal Representative: Chen Xuejun                                          Person in charge of accounting works: Ou Jianbin
Person in charge of accounting institute: Ou Jianbin


5. Consolidated cash flow statement

Prepared by Weifu High-Technology Group Co., Ltd
                                                                                                                        In RMB

                                             Item                                     Current Period         Last Period

I. Cash flows arising from operating activities:

     Cash received from selling commodities and providing labor services                1,435,402,209.66     1,184,664,546.94

     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

     Insured savings and net increase of 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                                                           10,929,709.79          9,062,497.87

     Other cash received concerning operating activities                                  71,499,997.49        16,076,546.47

       Subtotal of cash inflow arising from operating activities                        1,517,831,916.94     1,209,803,591.28


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                                                                   无锡威孚高科技集团股份有限公司 2014 年第一季度报告全文


     Cash paid for purchasing commodities and receiving labor service                   996,657,866.05     851,551,831.69

     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                                                 197,225,620.41     139,506,122.67

     Taxes paid                                                                         113,216,521.97      81,335,497.12

     Other cash paid concerning operating activities                                     72,064,320.35      44,100,808.35

     Subtotal of cash outflow arising from operating activities                        1,379,164,328.78   1,116,494,259.83

     Net cash flows arising from operating activities                                   138,667,588.16      93,309,331.45

II. Cash flows arising from investing activities:

     Cash received from recovering investment                                           381,000,000.00     291,000,000.00

     Cash received from investment income                                                21,471,878.12       9,361,866.44

     Net cash received from disposal of fixed, intangible and other long-term assets        349,973.49       1,300,038.80

     Net cash received from disposal of subsidiaries and other units

     Other cash received concerning investing activities                                   6,000,000.00

     Subtotal of cash inflow from investing activities                                  408,821,851.61     301,661,905.24

     Cash paid for purchasing fixed, intangible and other long-term assets              194,419,166.40      50,926,861.48

     Cash paid for investment                                                           370,000,000.00     411,700,000.00

     Net increase of mortgaged loans

     Net cash received from subsidiaries and other units

     Other cash paid concerning investing activities                                       5,506,789.16

Subtotal of cash outflow from investing activities                                      569,925,955.56     462,626,861.48

Net cash flows arising from investing activities                                       -161,104,103.95    -160,964,956.24

III. Cash flows arising from financing activities:

     Cash received from absorbing investment                                               3,047,322.07

     Including: Cash received from absorbing minority shareholders’ investment by
                                                                                           3,047,322.07
subsidiaries

     Cash received from loans                                                           288,500,000.00     230,000,000.00

     Cash received from issuing bonds

     Other cash received concerning financing activities

Subtotal of cash inflow from financing activities                                       291,547,322.07     230,000,000.00

     Cash paid for settling debts                                                       279,000,000.00




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                                                                    无锡威孚高科技集团股份有限公司 2014 年第一季度报告全文


     Cash paid for dividend and profit distributing or interest paying                      6,226,473.07       2,342,493.14

     Including: Dividend and profit of minority shareholder paid by subsidiaries

     Other cash paid concerning financing activities

Subtotal of cash outflow from financing activities                                        285,226,473.07       2,342,493.14

     Net cash flows arising from financing activities                                       6,320,849.00     227,657,506.86

IV. Influence on cash due to fluctuation in exchange rate

V. Net increase of cash and cash equivalents                                              -16,115,666.79     160,001,882.07

     Add: Balance of cash and cash equivalents at the period -begin                     2,288,739,620.44   2,432,803,698.08

VI. Balance of cash and cash equivalents at the period -end                             2,272,623,953.65   2,592,805,580.15


Legal Representative: Chen Xuejun                                          Person in charge of accounting works: Ou Jianbin
Person in charge of accounting institute: Ou Jianbin


6. Cash flow statement of parent company

Prepared by Weifu High-Technology Group Co., Ltd
                                                                                                                     In RMB

                                          Item                                         Current Period      Last Period

I. Cash flows arising from operating activities:

     Cash received from selling commodities and providing labor services                  668,905,632.47     641,696,553.96

     Write-back of tax received

     Other cash received concerning operating activities                                   63,544,636.75      10,361,103.68

Subtotal of cash inflow arising from operating activities                                 732,450,269.22     652,057,657.64

     Cash paid for purchasing commodities and receiving labor service                     368,063,985.93     331,612,802.21

     Cash paid to/for staff and workers                                                    85,822,676.07      58,273,921.29

     Taxes paid                                                                            44,468,896.17      31,412,081.17

     Other cash paid concerning operating activities                                       24,782,398.00      10,107,784.19

Subtotal of cash outflow arising from operating activities                                523,137,956.17     431,406,588.86

Net cash flows arising from operating activities                                          209,312,313.05     220,651,068.78

II. Cash flows arising from investing activities:

     Cash received from recovering investment                                             403,027,156.69     291,000,000.00

     Cash received from investment income                                                  21,471,878.12     209,361,866.44

     Net cash received from disposal of fixed, intangible and other long-term assets          231,644.26          79,100.96

     Net cash received from disposal of subsidiaries and other units

     Other cash received concerning investing activities

Subtotal of cash inflow from investing activities                                         424,730,679.07     500,440,967.40


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                                                                    无锡威孚高科技集团股份有限公司 2014 年第一季度报告全文


     Cash paid for purchasing fixed, intangible and other long-term assets                 144,862,856.53        22,733,794.09

     Cash paid for investment                                                              373,169,578.60       411,700,000.00

     Net cash received from subsidiaries and other units

     Other cash paid concerning investing activities

Subtotal of cash outflow from investing activities                                         518,032,435.13       434,433,794.09

Net cash flows arising from investing activities                                            -93,301,756.06       66,007,173.31

III. Cash flows arising from financing activities:

     Cash received from absorbing investment

     Cash received from loans                                                              200,000,000.00       200,000,000.00

     Cash received from issuing bonds

     Other cash received concerning financing activities

Subtotal of cash inflow from financing activities                                          200,000,000.00       200,000,000.00

     Cash paid for settling debts                                                          200,000,000.00

     Cash paid for dividend and profit distributing or interest paying                        2,758,000.00        1,204,000.00

     Other cash paid concerning financing activities

Subtotal of cash outflow from financing activities                                         202,758,000.00         1,204,000.00

Net cash flows arising from financing activities                                              -2,758,000.00     198,796,000.00

IV. Influence on cash due to fluctuation in exchange rate

V. Net increase of cash and cash equivalents                                               113,252,556.99       485,454,242.09

      Add: Balance of cash and cash equivalents at the period -begin                      1,422,429,501.73    1,524,564,526.97

VI. Balance of cash and cash equivalents at the period -end                               1,535,682,058.72    2,010,018,769.06


Legal Representative: Chen Xuejun                                            Person in charge of accounting works: Ou Jianbin
Person in charge of accounting institute: Ou Jianbin


II. Audit report

Whether the 1st quarterly report has been audited or not
□Yes √ No
The 1st quarterly report of the Company was unaudited

                                                                                  Board of Director of
                                                                         Weifu High-Technology Group Co., Ltd
                                                                                  Chairman:
                                                                                            Chen Xuejun
                                                                                            29 April 2014




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