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1、7.08%Weifu High-Technology Group Co., Ltd.Full-Text of First Quarterly Report 2011Weifu High-Technology Group Co., Ltd.The First Quarterly Report 2011(Full Text)1. Important Notes1.1 Board of Directors and the Supervisory Committee of Weifu High-Technology Group Co., Ltd.(hereinafter referred to as
2、the Company) and its directors, supervisors and senior executives herebyconfirm that there are no any fictitious statements, misleading statements, or important omissionscarried in this report, and shall take all responsibilities, individual and/or joint, for the reality,accuracy and completion of t
3、he 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 AccountingWorks; Sun Qingxian, Person in Charge of Accounting Organ(Accounting Supervisor) herebyconfirm that the Financial R
4、eport of the First Quarterly Report is true and complete.2. Company Profile2.1 Main accounting highlights and financial indexes:Unit: RMBAt the end of thereport periodAt the period-endof the last yearChanges ofincrease/decrease(%)Total assets (RMB)7,340,213,490.31 6,761,622,809.908.56%Ownersequityat
5、tributabletoshareholders of the listed company(RMB)4,396,937,862.89 4,106,208,383.62Share capital (Share)567,275,995.00567,275,995.000.00%Net asset per share attributable toshareholders of listed company7.757.247.04%(RMB/Share)In the report periodThe same periodof last yearChanges ofincrease/decreas
6、e(%)Total operating income (RMB)1,617,839,294.12 1,188,216,542.8536.16%Net profit attributable to shareholders ofthe listed company (RMB)Net cash flow arising from operatingactivities (RMB)Net cash flow arising from operatingactivities per share (RMB/Share)Basic earnings per share (RMB/Share)290,729
7、,479.27-107,850,912.52-0.190.51114,030,846.25-88,249,244.11-0.160.20154.96%155.00%Diluted earnings(RMB/Share)pershare0.510.20155.00%Weighted average return on equity (%)6.84%3.91%2.93%Weighted average return on equity afterdeducting non-recurring gains and6.84%3.97%2.87%losses (%)1-Weifu High-Techno
8、logy Group Co., Ltd.Full-Text of First Quarterly Report 2011Items of non-recurring gains and losses Applicable InapplicableUnit: RMBItems of non-recurring gains and lossesGains and losses from the disposal of non-current assetOther non-operating income and expenditure except for theaforementioned it
9、emsImpact on income taxInfluenced amount of minority shareholders equityTotalAmount-218,377.9453,278.0717,797.541,723.43-145,578.90Remarks(If applicable)2.2 Total number of shareholders at the end of the report period and shares held by the topten shareholders with unrestricted conditionsUnit: Share
10、Total number of shareholders at the end of report period42,816Particulars about the shares held by the top ten tradable shareholders with unrestricted conditionsAmount of tradableshares withFull Name of shareholderROBERT BOSCH GMBHunrestrictedconditions held atthe end of reportperiod18,387,200Type o
11、f sharesDomestically listedforeign shareChina Construction Bank- Fullgoal Tianbo InnovationTheme Stock Fund,18,300,000 RMB common shareGUOTAI JUNAN SECURITIES(HONGKONG)LIMITED12,333,700Domestically listedforeign shareChina Construction Bank- Huashang Shengshi GrowthStock Fund11,097,272 RMB common sh
12、areDRAGON BILLION CHINA MASTER FUND11,066,646Domestically listedforeign shareChina Construction Bank- China AMC Advantage GrowthStock FundChina Minsheng Banking Corp., Ltd. Huashang StrategySelected Flexible Allocation Mix Stock FundAgriculture Bank of China Changsheng Tongde ThemeGrowth Stock Fund1
13、0,379,508 RMB common share8,971,691 RMB common share8,500,504 RMB common shareGAOLING FUND,L.P.8,202,516Domestically listedforeign shareBank of Communications Hua An Innovation Stock Fund8,180,000 RMB common share3. Significant Events3.1 Particulars about material changes in items of main accounting
14、 statement and financialindex, and explanations of reasonsApplicableInapplicable1. Construction in process growth 65.56 percent over year-begin, mainly due to the increase ofinvestment in technology reform.2Weifu High-Technology Group Co., Ltd.Full-Text of First Quarterly Report 20112. Short-term lo
15、ans growth 67.59 percent over year-begin, mainly because the rapidly development inbusiness 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 rapidlydevelopment in business of the Company.4. Sales expense de
16、creased 43.88 percent over same period of last year, mainly because the strength onsales management, lower the procedures which down the expenses.5. Investment income increased 112.63 percent over same period of last year, mainly because the profitcontributed from the stock-joint company Boshi Auto
17、Diesel System Co., Ltd. was dramaticallygrowth.6. Operating profit increased 152.88 percent over same period of last year, mainly because the growthof main business and rapidly increase of investment income.7. Net profit attributable to owners of parent company increased 154.96 percent over same per
18、iod oflast 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 thedramatically growth in profit and the income tax correspondingly soaring in the report period.9. Net cash flow arising from fina
19、ncing 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 solutions3.2.1 Particular about Qualified OpinionApplica
20、bleInapplicable3.2.2 Particular about fund offered to shareholder or its related parties by the Company andexternal guarantee with procedure violationApplicableInapplicable3.2.3 Particular about the significant contract of routine operation signed and implementedApplicable3.2.4 OtherApplicableInappl
21、icableInapplicableProposal of shares private offering was deliberated and passed by the Second ExtraordinaryShareholders General Meeting of 2010.The plan of share privately offering of the Company requires approval from relevant governments ofMinistry of Commerce, and should put into practice after
22、approval from CSRC, and will exercise onthe plan approved by CSRC. (Found more details on Notice of Resolution of the 2nd ExtraordinaryShareholders General Meeting of 2010 published on Securities Times, China Securities Journal,Hong Kong Commercial Daily and Juchao Website () dated 25 December 2010)
23、.The Plan has submitted to Ministry of Commerce for approval.3.3 Implementations of commitments by the Company, shareholders and actual controllerCommitments make within the report period or persisted to the period by listed company and itsdirector, supervisor and senior executives, shareholder with
24、 over 5 percent shares held and its actualcontrollerApplicableInapplicableItem of CommitmentsPromiseeContent of commitmentsImplementationThe total realized net profit of theCompany from 2006 to 2008 wasWuxiRMB 0.85 billion, and that inCommitmentsMerger ReformforShareIndustry 2008 was RMB 0.34 billio
25、n.Development Based on circulating A sharesGroup Co., before the share reform, arrangingImplementationhas accomplishedLtd.additionally delivering 0.5 sharesper 10 shares, the proportion ofcash dividend from 2006 to 20083Weifu High-Technology Group Co., Ltd.Full-Text of First Quarterly Report 2011was
26、 not lower than 50 percent ofprofit available for distribution ofinvestors realized by the Companyin those years.Commitments made inAcquisition Report or Reports Inapplicableon Change in InterestsInapplicableInapplicableCommitments made in MaterialAssets ReorganizationInapplicableInapplicableInappli
27、cableCommitments made in issuing InapplicableInapplicableIn order to promote the listedcompanys steady and healthydevelopment, fully mobilize seniorexecutives so as to ensure toInapplicableOther commitments (includingadditional commitments)combine the interests of thegovernance and shareholders ofWu
28、xi the Company, Weifu IndustryIndustry Group committed: after WeifuDevelopment High-tech finishing Share MergerGroup Co., Reform, under related regulationsLtd. of the state and Wuxi governmentin terms of governanceencouragement system of listedThe saidcommitment isbeingimplemented, andwould beperfor
29、med sincerelated policy pany, the Group would thestock incentive plan formanagement level of WeifuHigh-tech.3.4 Estimation of accumulative net profit from the beginning of the year to the end of nextreport period to be loss probably or the warning of its material change compared with thecorrespondin
30、g period of the last year and explanation of reasonApplicableInapplicable3.5 Other significant events which need explanations3.5.1 Particulars about securities investmentApplicableInapplicable3.5.2 Registration form for receiving research, communication and interview in the reportperiodDatePlaceMeth
31、odInvestorContents discussed andmaterials supplied2011-01-062011-01-07Conference roomof the CompanyConference roomof the CompanyBank ofSpot research CommunicationsSchrodersSpot research China life, FranklinOperation status and futuredevelopment of the CompanyOperation status and futuredevelopment of
32、 the Company2011-02-16Conference roomof the CompanySpot researchChina Merchants Operation status and futureSecurities development of the Company3.6 Particulars about derivatives investmentApplicableInapplicable3.6.1 Particulars about derivatives investment held at the end of report periodApplicableI
33、napplicable4Weifu High-Technology Group Co., Ltd.4. Appendix4.1 Balance sheetFull-Text of First Quarterly Report 2011Prepared by Weifu High-Technology Group Co., Ltd.March 31, 2011Unit: RMBBalance at period-endBalance at year-beginItemsConsolidationParent CompanyConsolidationParent CompanyCurrent as
34、sets:Monetary funds440,153,613.59113,844,527.83596,958,764.21149,943,763.55Settlement provisionsCapital lentTransaction finance assetNotes receivableAccounts receivableAccounts paid in advance928,172,190.221,273,126,939.90161,242,930.98334,796,016.10662,696,163.9849,143,543.26835,266,266.32999,798,4
35、39.30105,176,780.11291,611,147.00567,607,398.1842,468,803.76Insurance receivableReinsurance receivablesContractreserveofreinsurance receivableInterest receivableDividend receivable348,145,326.00356,642,016.228,496,690.22Other receivables6,260,157.64209,714,516.966,892,216.92137,067,355.21Purchase re
36、stitutedassetfinanceInventories1,015,286,595.84327,185,568.10917,694,296.54277,723,002.78Non-current asset due withinone yearOther current assets9,460,705.449,210,782.24Total current assets4,181,848,459.61 2,054,022,352.45 3,470,997,545.64 1,474,918,160.70Non-current assets:Granted loans and advance
37、sFinance asset available forsalesHeld-to-maturity investmentLong-term account receivableLong-term equity investmentInvestment propertyFixed assetsConstruction in progress1,677,404,531.344,831,654.061,100,426,560.71235,522,152.482,330,524,423.27534,913,750.15190,034,500.421,892,112,152.464,965,879.52
38、1,110,068,115.28142,256,732.632,558,225,582.62538,628,218.28125,932,175.31Engineering materialDisposal of fixed asset5Weifu High-Technology Group Co., Ltd.Productive biological assetOil and gas assetFull-Text of First Quarterly Report 2011Intangible assets84,844,330.3426,566,210.9585,655,823.1226,73
39、3,764.37Expense on Research andDevelopmentGoodwillLong-term expenses to beapportioned1,784,086.796,972,940.631,784,086.797,473,629.75Deferred income tax asset46,578,774.3516,195,351.5346,308,844.7116,198,870.70Other non-current assetTotal non-current assetTotal assets3,158,365,030.707,340,213,490.31
40、3,098,234,236.325,152,256,588.773,290,625,264.266,761,622,809.903,265,718,611.284,740,636,771.98Current liabilities:Short-term loans452,487,493.42422,487,493.42270,000,000.00240,000,000.00Loan from central bankAbsorbingdepositandinterbank depositCapital borrowedTransactionliabilitiesfinancialNotes p
41、ayableAccounts payableAccounts received in advance333,322,030.701,346,990,282.7249,301,783.80149,908,487.00886,028,388.3019,714,919.93389,985,533.691,195,053,077.8442,271,899.15200,278,487.00766,617,178.7220,438,892.15Selling financial asset ofrepurchaseCommissionchargeandcommission payableWage paya
42、bleTaxes payableInterest payableDividend payableOther accounts payable279,885,181.1780,627,688.79490,000.003,464,336.1571,286,963.19184,145,069.4319,772,775.50320,000.0055,039,782.89269,751,945.96107,903,963.31490,000.0018,696,539.1862,501,613.74168,133,427.3228,582,184.41320,000.0056,125,853.06Rein
43、surance payablesInsurance contract reserveSecurity trading of agencySecurity sales of agencyNon-current liabilitieswithin 1 yeardueOther current liabilities34,484,063.05818,616.4924,330,259.35Total current liabilities2,652,339,822.99 1,738,235,532.96 2,380,984,832.22 1,480,496,022.66Non-current liab
44、ilities:6Weifu High-Technology Group Co., Ltd.Full-Text of First Quarterly Report 2011Long-term loansBonds payableLong-term account payableSpecial accounts payableProjected liabilitiesDeferred income tax liabilitiesOther non-current liabilities3,000,000.0015,670,000.002,801,008.4014,593,000.001,481,
45、745.843,000,000.0015,670,000.002,801,008.4013,350,000.001,481,745.84Total non-current liabilitiesTotal liabilitiesOwnersequity(or36,064,008.402,688,403,831.391,481,745.841,739,717,278.8034,821,008.402,415,805,840.621,481,745.841,481,977,768.50shareholders equity):Paid-in capital (orsharecapital)Capi
46、tal public reserve567,275,995.00895,918,416.59567,275,995.00923,981,806.57567,275,995.00895,918,416.59567,275,995.00923,981,806.57Less: Inventory sharesReasonable reserveSurplus public reserve283,637,997.50283,637,997.50283,637,997.50283,637,997.50Provision of general riskRetained profit2,650,105,45
47、3.80 1,637,643,510.90 2,359,375,974.53 1,483,763,204.41Balance difference of foreigncurrency translationTotalownersequityattributable to parent companyMinority interestsTotal owners equity4,396,937,862.89254,871,796.034,651,809,658.923,412,539,309.973,412,539,309.974,106,208,383.62239,608,585.664,34
48、5,816,969.283,258,659,003.483,258,659,003.48Total liabilities and ownersequity7,340,213,490.31 5,152,256,588.77 6,761,622,809.90 4,740,636,771.984.2 Profit statementPrepared by Weifu High-Technology Group Co., Ltd.Jan.-Mar. 2011Unit: RMBAmount in this periodAmount in last periodItemsI. Total operati
49、ng incomeIncluding: Operating incomeConsolidation1,617,839,294.121,617,839,294.12Parent Company833,816,030.01833,816,030.01Consolidation1,188,216,542.851,188,216,542.85Parent Company620,875,087.08620,875,087.08Interest incomeInsurance gained7Weifu High-Technology Group Co., Ltd.Full-Text of First Qu
50、arterly Report 2011Commissionchargeandcommission incomeII. Total operating costIncluding: Operating cost1,386,509,213.861,184,963,972.83765,447,648.44686,865,102.011,104,946,771.10912,432,310.56598,485,518.44543,290,152.03Interest expenseCommissionchargeandcommission expenseCash surrender valueNet a
51、mount of expense ofcompensationNet amount of withdrawal ofinsurance contract reserveBonus expense of guarantee slipReinsurance expenseOperating tax and extrasSales expensesAdministration expensesFinancial expensesLosses of devaluation of asset9,261,487.1732,177,349.01151,019,027.309,744,277.83-656,9
52、00.282,765,743.2115,345,785.5155,378,432.405,015,193.2877,392.037,273,043.6657,338,278.79121,954,130.9610,783,524.08-4,834,516.952,886,121.7718,051,258.9531,498,573.747,035,121.44-4,275,709.49Add: Changing income of fairvalue(Loss is listed with “-”)Investment income (Loss islisted with “-”)109,618,
53、904.8896,625,366.6551,554,055.4040,645,604.74Including: Investment incomeon affiliated company and jointventure109,618,904.8896,625,366.6551,554,055.4040,645,604.74Exchange income (Loss is listedwith “-”)III. Operating profit (Loss islisted with “-”)Add: Non-operating incomeLess: Non-operating expen
54、se340,948,985.14210,625.242,096,976.41164,993,748.2239,500.481,044,989.10134,823,827.15332,671.414,419,244.0463,035,173.38213,053.413,467,563.52Including: Disposal loss ofnon-current asset344,580.11190,448.073,005,127.902,780,963.25IV. Total Profit (Loss is listedwith “-”)Less: Income tax339,062,633
55、.9733,879,944.33163,988,259.6010,107,953.11130,737,254.527,964,652.5159,780,663.27634,192.51V. Net profit (Net loss is listedwith “-”)305,182,689.64153,880,306.49122,772,602.0159,146,470.76Net profit attributable toowners equity of parentcompany290,729,479.27153,880,306.49114,030,846.2559,146,470.76
56、8toWeifu High-Technology Group Co., Ltd.Full-Text of First Quarterly Report 2011Minority shareholdersgainsand lossesVI. Earnings per share14,453,210.378,741,755.76i. Basic earnings per shareii. Diluted earnings per shareVII. Other consolidated incomeVIII. Total consolidated incomeTotalconsolidatedin
57、come0.510.51305,182,689.640.270.27153,880,306.490.20.20122,772,602.010.10.1059,146,470.76attributable to owners of parentcompanyTotalconsolidatedincome290,729,479.27153,880,306.49114,030,846.2559,146,470.76attributableminorityshareholders14,453,210.378,741,755.76Concerning the enterprise consolidati
58、on under common control occurred in the period; the mergeredparty realized net profit before consolidation amounting to RMB00.00.4.3 Cash flow statementPrepared by Weifu High-Technology Group Co., Ltd.Jan.-Mar. 2011Unit: RMBAmount in this periodAmount in last periodItemsConsolidationParent CompanyCo
59、nsolidationParent CompanyI. Cash flows arising fromoperating activities:Cash received from sellingcommodities and providing laborservices1,456,797,712.42761,419,287.88711,875,710.60544,597,363.13Net increase of customerdeposit and interbank depositNet increase of loan fromcentral bankNet increase of
60、 capital borrowedfrom other financial institutionCash received from originalinsurance contract feeNet cash received fromreinsurance businessNet increase of insuredsavings and investmentNet increase of disposal oftransaction financial assetCash received from interest,commissionchargeandcommissionNet
61、increase of capitalborrowedNet increase of returned businesscapitalWrite-back of tax receivedOther cash received concerning9,619,790.954,695,694.80operating activities5,601,759.92293,454.143,013,148.501,986,922.089Weifu High-Technology Group Co., Ltd.Subtotal of cash inflow arisingFull-Text of First
62、 Quarterly Report 2011from operating activities1,472,019,263.29761,712,742.02719,584,553.90546,584,285.21Cash paid for purchasingcommodities and receiving laborservice1,229,369,538.68737,043,899.43575,102,203.72607,368,109.67Net increase of customer loansand advancesNet increase of deposits incentra
63、l bank and interbankCash paid for original insurancecontract compensationCash paid for interest,commissionchargeandcommissionCash paid for bonus ofguarantee slipCash paid to/for staff andworkersTaxes paid127,421,249.42157,919,411.8950,906,182.1145,360,892.78133,901,456.6268,933,287.3168,940,714.7627
64、,300,383.24Other cash paid concerningoperating activities65,159,975.8222,885,094.4729,896,850.363,564,999.71Subtotal of cash outflow arisingfrom operating activities1,579,870,175.81856,196,068.79807,833,798.01707,174,207.38Net cash flows arising fromoperating activities-107,850,912.52-94,483,326.77-
65、88,249,244.11-160,589,922.17II. Cash flows arising frominvesting activities:Cash received from recoveringinvestmentCash received from investmentincomeNet cash received from disposalof fixed, intangible and other9,250,000.009,250,000.00long-term assets229,542.9653,242.587,981,216.457,408,899.52Net ca
66、sh received fromdisposal of subsidiaries and otherunitsOther cash received concerninginvesting activitiesSubtotal of cash inflow frominvesting activities229,542.9653,242.5817,231,216.4516,658,899.52Cash paid for purchasing fixed,intangible and other long-termassetsCash paid for investment143,013,092
67、.8823,818,800.0083,260,554.3723,818,800.0041,569,130.98123,265,900.0014,355,694.14124,885,900.00Net increase of mortgagedloansNet cash received fromsubsidiaries and other unitsOther cash paid concerninginvesting activitiesSubtotal of cash outflow frominvesting activities166,831,892.88107,079,354.371
68、64,835,030.98139,241,594.1410Weifu High-Technology Group Co., Ltd.Net cash flows arising fromFull-Text of First Quarterly Report 2011investing activities-166,602,349.92-107,026,111.79-147,603,814.53-122,582,694.62III. Cash flows arising fromfinancing activitiesCash received from absorbinginvestmentI
69、ncluding: Cash received810,000.001,490,490.00fromabsorbingminorityshareholders investment bysubsidiaries810,000.001,490,490.00Cash received from loans361,512,141.78331,512,141.78758,317,956.54706,050,000.00Cash received from issuingbondsOther cash received concerningfinancing activitiesSubtotal of c
70、ash inflow fromfinancing activitiesCash paid for settling debts362,322,141.78179,024,648.36331,512,141.78149,024,648.36759,808,446.54498,048,025.08706,050,000.00442,048,025.08Cash paid for dividend andprofit distributing or interestpaying20,005,382.764,221,179.7310,925,741.047,239,868.19Including: D
71、ividend and profit ofminority shareholder paid bysubsidiariesOther cash paid concerningfinancing activitiesSubtotal of cash outflow from15,232,203.032,265,668.46financing activities199,030,031.12153,245,828.09511,239,434.58449,287,893.27Net cash flows arising fromfinancing activities163,292,110.6617
72、8,266,313.69248,569,011.96256,762,106.73IV. Influence on cash and cashequivalents due to fluctuation inexchange rateV. Net increase of cash and cashequivalents-111,161,151.78-23,243,124.8712,715,953.32-26,410,510.06Add: Balance of cash and cashequivalents at the period -begin465,219,784.6785,169,165.70327,527,351.4585,790,609.19VI. Balance of cash and cashequivalents at the period -end354,058,632.8961,926,040.83340,243,304.7759,380,099.134.4 Auditor reportAuditors opinions: Un-auditedBoard of Directors ofWeifu High-Technology Group Co., Ltd.23 April 201111
