瓦轴B：2018年年度报告（英文版）.PDF

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1、Wa Fangdian Bearing Co., Ltd 2018 Annual Report 1 Wafangdian Bearing Company Limited Wafangdian Bearing Company Limited 2012018 8 Annual Report Annual Report 2012019 9- -0202 April 2April 26 6, 201, 2019 9 Wa Fangdian Bearing Co., Ltd 2018 Annual Report 2 Chapter I. Important Prompts, Table of Conte

2、nts, and DefinitionsChapter I. Important Prompts, Table of Contents, and Definitions The Board of Directors, board of supervisors, directors, supervisors, and top management of the Company hereby guarantee that there are no false record, misleading statements and important omission of the material i

3、n this report, and assume the individual and associated responsibilities for the truth, accuracy and completeness of the contents. Chairman Meng Wei , General Accountant Ms. Sun Najuan and accounting charger Ms. Sun Najuan declare: guarantee the truth and completeness of the financial report in the

4、annual report. Besides the following directors, all the other directors attended the Board meeting and discussed the report. NameName PostPost ReasonsReasons Assignee nameAssignee name Liu Yuping Independent director Busy work Wen BO Liang Shuang Independent director Busy work SunKun The company has

5、 described detailed description of the possible risks in this report.This part of the content does not constitute a substantial commitment to investors, investors should maintain sufficient risk awareness, and understand the differences between planning, forecasting and commitment. The Companys prof

6、it distribution preplan upon review and approval of this board meeting: Based on the total 402,600,000 shares, a cash dividend of RMB 0.4Yuan (tax included) will be distributed for every 10 shares held by shareholders. No bonus shares will be granted and no capital reserve will be turned into share

7、capital. Table of ContentsTable of Contents Wa Fangdian Bearing Co., Ltd 2018 Annual Report 3 Chapter I. Important Prompts, Table of Contents, and Definitions . 2 Chapter II.Company Profile and Financial Highlights . 4 Chapter III Business Summary . 6 Chapter IV Discussion and Analysis of the Manage

8、ment . 7 Chapter Significant Events . 17 Chapter. Changes in Shares and Particulars about the Shareholders. 26 Chapter . About the Preferred Shares . 29 Chapter . Directors, Supervisors, Senior Management and Staff . 29 Chapter. Corporate Governance . 37 Chapter. Financial Report . . 41 Chapter. Lis

9、t of Documents Available for Inspection. . . 145 GlossaryGlossary Wa Fangdian Bearing Co., Ltd 2018 Annual Report 4 Terms Defined asDefined as Description Company,the Company Defined asDefined as Wafangdian Bearing Company Limited Wazhou Group Defined asDefined as Wafangdian Bearing Group Company th

10、e report period, the current period, the current year Defined asDefined as January 1,2018December 31,2018 Liaozhou Co.,Ltd Defined asDefined as Wazhou Liaoyang Bearing Manufacture Co.,Ltd Dalian motor Defined asDefined as Dalian motor Bearing Co.,Ltd The Board of Directors Defined asDefined as Wafan

11、gdian Bearing Company Limited The Board of Directors The Supervisory Committee Defined asDefined as Wafangdian Bearing Company Limited The Supervisory Committee Wafangdian Bearing Company Limited Defined asDefined as Wafangdian Bearing Company Limited The ShareholdersMeeting Shen Jiao Suo Defined as

12、Defined as Shen Zhen Stock Exchange SRC Defined asDefined as China Securities Regulatory Commission Chapter II. Company Profile and Financial HighlightsChapter II. Company Profile and Financial Highlights Wa Fangdian Bearing Co., Ltd 2018 Annual Report 5 I. Company InformationI. Company Information

13、Abbreviated name of the stock Wazhou B Stock code: 200706 Listing location of the Companys stock: Shenzhen Stock Exchange Chinese name of the Company 瓦房店轴承股份有限公司 Abbreviation of Chinese name 瓦轴股份公司 English name of the Company Wafangdian Bearing Company Limited Abbreviation of English name WBC Legal

14、representative of the Company Meng Wei Registered address No. 1 Beigongji Street, Wafangdian City, Liaoning Province, China. P.C 116300 office address No. 1 Beigongji Street, Wafangdian City, Liaoning Province, China. office P.C 116300 Website http/www.zwz- E-mail II.ContactsII.Contacts Secretary of

15、 the Board Representative of StockA ffairs Name Sun Najuan Ke Xin Correspondence address No. 1 Beigongji Street, Wafangdian City, Liaoning Province, China. No. 1 Beigongji Street, Wafangdian City, Liaoning Province, China. Consulting telephone 0411-39116369 0411-39116732 Fax 0411-39116738 0411-39116

16、738 E-mail III.Place for information disclosureIII.Place for information disclosure Information disclosure newspapers Securities Times and Hong Kong Commercial Newspaper Web address for the annual report as assigned byCSRC. http:/ Place for inquiry of the annual report Investment and Securities Depa

17、rtment of the Company IV.Change of Business RegistrationIV.Change of Business Registration No. of Taxation Registration 912102002423997128 Change of main business since listed manufacture and sales of bearings, bearing components mechanical equipment, bearing maintenance and technology service,autom

18、obile parts and fittings and other related products, lease of mechanical equipment and buildings, and inspection of bearings and other related mechanical equipment and measure instruments. Change of controlling shareholder all previous(if any) None V.V. Miscellaneous informationMiscellaneous informa

19、tion CPA hired by the CompanyCPA hired by the Company Name of the CPA Shine wing Certified Public Accountants Address of the CPA Floor 9 of A section of Fu Hua mantion, No. 8, North Street of ChaoYang door, Dong Cheng area, Bei Jing. The name of accountants Sui Guojun Hui Shikui Sponsoring instituti

20、on hired by the Company, which is responsible to overseeing the Companys operation on a continuous basis: Applicable V Not applicable Wa Fangdian Bearing Co., Ltd 2018 Annual Report 6 Financial consultancy institution hired by the Company, which is responsible to overseeing the Companys operation on

21、 a continuous basis: Applicable V Not applicable VI.Financial HighlightsVI.Financial Highlights Are there any retrospective adjustments or restatement of financial information of previous year due to change of accounting policies or correcting of accounting errors? V Yes No In RMB YuanIn RMB Yuan 20

22、18 2017 % 2016 Before adjustment After adjustment After adjustment Before adjustment After adjustment Turnover(RMB) 2,168,398,656.83 2,190,412,052.05 2,190,412,052.05 -1.00% 2,493,926,556.67 2,493,926,556.67 Net profit attributable to shareholders of the listed company(Yuan) 10,632,169.84 10,182,949

23、.16 10,182,949.16 4.41% 30,872,950.22 30,872,950.22 Net profit attributable to the shareholders of the listed company after deducting ofnon-recurring gain/loss(RMB) -8,737,823.23 -13,502,647.08 -13,502,647.08 -35.29% -57,771,828.22 -57,771,828.22 Net Cash flow generated by business operation (RMB) 2

24、28,603,893.98 -2,124,819.67 -2,124,819.67 -10,858.74% 20,520,061.16 20,520,061.16 Basic earnings per share(Yuan/share) 0.03 0.03 0.03 0.00% 0.08 0.08 Diluted earnings per share(Yuan/share) 0.03 0.03 0.03 0.00% 0.08 0.08 Net return on equity(%) 0.77% 0.73% 0.73% 0.04% 2.26% 2.26% 2018 2017 % 2016 Bef

25、ore adjustment After adjustment After adjustment Before adjustment Total Assets (RMB) 3,298,167,332.49 3,213,772,171.61 3,213,772,171.61 2.63% 3,553,947,227.09 3,553,947,227.09 Owners Equity Attributed toShareholders of Listed Company(RMB) 1,380,023,044.55 1,385,494,874.71 1,385,494,874.71 -0.39% 1,

26、379,337,925.55 1,379,337,925.55 “The Notice of amendment to the standard enterprises financial statements format (Caikuai2018No.15 File) was announced by the Ministry of Finance on June 15, 2018(hereinafter referred to as Caikuai No.15File). Due to the No.15 File, some of asset items and liability i

27、tems have been merged and some of income statements items have been separated, and interpretation of financial statement format for the company in 2018 was announced on September 7, 2018. Handling charge of personal income tax shall be clearly presented under other income, the actual government rece

28、ived shall be presented under operating cashflow column when preparing the cashflow statement regardless of asset related or income related. The Company has prepared the financial statements in accordance with new statements format and retrospectively made adjustment to the changes mentioned and res

29、pectively adjusted the comparing figures in accordance with financial statements presentation, No 30, accounting standards applicable in China. VII. Differences in accounting information under IAS and domestic accounting standard VII. Differences in accounting information under IAS and domestic acco

30、unting standard 1. Differences in net profit and net asset under domestic and1. Differences in net profit and net asset under domestic and international accounting standardsinternational accounting standards Inapplicable Wa Fangdian Bearing Co., Ltd 2018 Annual Report 7 2. Differences in net profit

31、and net asset under domestic and overseas accounting standards2. Differences in net profit and net asset under domestic and overseas accounting standards Inapplicable VIII. Financial Data Summary based on QuartersFinancial Data Summary based on Quarters In RMB YuanIn RMB Yuan 1s Quarter 2nd Quarter

32、3rd Quarter 4th Quarter Operating revenue 486,916,871.06 587,951,110.68 551,110,606.32 542,420,068.77 Net profit attributable to the Companys shareholders 1,020,973.46 2,293,006.66 2,064,511.90 5,253,677.82 Net profit attributable to the Companys shareholders less the non-recurring profit and loss 7

33、77,477.64 -610,701.80 3,573,120.89 -12,477,719.96 Net cash flows arising from operating activities 60,684,129.17 -16,477,533.94 97,809,675.37 86,587,623.38 Does there exist significant difference in the foregoing financial data or their total sum from the relevant financial data as disclosed in the

34、quarterly reports and/or semi-annual report. No IX. NonIX. Non- -recurring gain/loss items and amountsrecurring gain/loss items and amounts In RMB YuanIn RMB Yuan Items Amount of 2018 Amount of 2017 Amount of 2016 Remarks Gain/loss of non-current assets (includes the neutralized part of the asset im

35、pairment provision drawn already) 1,714,192.31 -728,247.65 51,018,264.75 Gains and losses included in the current period of government subsidies, excluding those government grants which are closely related to normal business and in line with national policy, or in accordance with fixed standards or

36、quantities 8,337,141.38 7,856,994.07 12,488,720.91 Debt restructuring gains and losses 4,178,887.79 5,304,472.04 32,573,379.44 The impairment provision of receivables subject to a separate impairment test is reversed 550,000.00 Other non-business income and expenditures other than the above 8,963,46

37、4.52 13,120,938.97 9,557,842.80 Influenced amount of income tax 4,373,692.93 1,868,561.19 16,993,429.46 Total 19,369,993.07 23,685,596.24 88,644,778.44 - For the Companys non-recurring gain/loss items as defined in the Explanatory Announcement No.1 on Information Disclosure for Companies Offering th

38、eir Securities to the PublicNon-recurring Gains and Losses and its non-recurring gain/loss items as illustrated in the Explanatory Announcement No.1 on Information Disclosure for Companies Offering their Securities to the PublicNon-recurring Gains and Losses which have been defined as recurring gain

39、s and losses, it is necessary to explain the reason. Applicable Inapplicable Chapter III Business SummaryChapter III Business Summary I Principal Businesses in the Reporting PeriodI Principal Businesses in the Reporting Period The scope of operation is: manufacture and sales of bearings, bearing com

40、ponents mechanical equipment, bearing maintenance and technology service, automobile parts and fittings and other related products, lease of mechanical equipment and buildings, and inspection of bearings and other related mechanical equipment and measure instruments. Wa Fangdian Bearing Co., Ltd 201

41、8 Annual Report 8 Company has strong manufacturing capability and quality assurance capabilities, extensive services in railway, automobile, metallurgy, mining and other industries and fields. IIII. .Significant Changes in the Prime AssetsSignificant Changes in the Prime Assets Prime AssetsPrime Ass

42、ets Description of major changes The equity asset There were no major changes during the reporting period Fixed assets There were no major changes during the reporting period Intangible assets There were no major changes during the reporting period Projects under construction Reduction of renovation

43、 projects during the reporting period IIIIII.A.Analysis on Core Competitivenessnalysis on Core Competitiveness As the countrys largest bearing technology and product r&d and manufacturing base, company has accumulated more than seventy years practice experience in the field of bearings and related a

44、reas, set up perfect bearing technology innovation system, maintain close cooperation with domestic scientific research institutes, colleges and universities. As the main drafter of bearing industry a number of standard, company control the latest technology development trend in the industry. In tec

45、hnology research and development, product manufacturing, marketing , customer services and other aspects have established a significant advantage. Company improve responsiveness to the market and customer personalized demand, in line with customers personalized design and needs of manufacturing proc

46、esses balancing cost, delivery time and customer, The company has complete product service system and 24-hour dynamic service ability product operating site. And was praised with a good image of the ten value-added services by the majority customers. Company has strong manufacturing capability and q

47、uality assurance capabilities, extensive services in railway, automobile, metallurgy, mining, and other industries and fields. Company has established strategic cooperative relations with key customers in domestic equipment applications, carry out the depth of marketing through involvement in custom

48、er value engineer, set firmly up the companys brand and influence in the domestic bearing market, the company has won the certification qualification of important target markets in the international market , the international popularity established preliminary. Chapter IV Discussion and Analysis oCh

49、apter IV Discussion and Analysis of the Managementf the Management I GeneralI General In 2018, the board of directors of the company carry out the basic requirement of high quality development, firmly grasp the historical opportunity of change, global market supply and demand in the domestic macroec

50、onomic uncertainty increased, the market competition is more intense and other adverse factors, adhere to improve operation quality and product quality as the center, to the users of the products with higher cost performance and high quality products, the full implementation of profit growth and pro