WEIFU HIGH-TECHNOLOGY GROUP CO., LTD. THE THIRD QUARTERLY REPORT FOR 2010

Transcription

1 Stock Code: Notice No.: -027 Short Form of the Stock: Weifu High-tech WEIFU HIGH-TECHNOLOGY GROUP CO., LTD. THE THIRD QUARTERLY REPORT FOR 1. Important Notes 1.1 Board of Directors and the Supervisory Committee of Weifu High-Technology Group Co., Ltd. (hereinafter referred to as the ) and its directors, supervisors and senior executives hereby confirm that there are no any fictitious statements, misleading statements, or important omissions carried in this report, and shall take all responsibilities, individual and/or joint, for the reality, accuracy and completion of the whole contents. 1.2 Other directors attended the meeting on discussing the Quarterly Report except for the following directors: Absent director Reason for absence Entrusted Du Fangci Absent due to be on business Naught 1.3The Third Quarterly Financial Report of has not been audited by CPAs. 1.4 Wang Weiliang, Principal of the ; Sun Qingxian, Person in Charge of Accounting Work; Sun Qingxian, Person in Charge of Accounting Organization (Accounting Officer) hereby confirm that the Financial Report of the Third Quarterly Report is true and complete. 2. Profile 2.1 Main accounting highlights and financial indexes: Unit: RMB Increase/decrease scope (%) Total assets (RMB) 6,405,466, ,035,871, % Owners equities attributable to the shareholders of listed company 3,388,334, ,862,670, % (RMB) Share capital (Share) 567,275, ,275, % Net assets per share attributable to the shareholders of listed company % July-Sep. Increase/decrea se over the same period of the last year (%) Increase/decre ase over the Jan.-Sep. same period of the last year (%) Total operating income (RMB) 1,326,188, % 3,976,875, % Net profit attributable to the shareholders of listed company (RMB) Net cash flow arising from operating activities (RMB) Net cash flow arising from operating activities per share 297,725, % 616,832, % ,539, % % 1

2 Basic earnings per share Diluted earnings per share Weighted average return on equity (%) Weighted average return on equity after deducting non-recurring gains/losses (%) % % % % 9.02% 3.72% 19.59% 10.80% 9.01% 4.01% 19.48% 11.07% Items of non-recurring gains and losses Amount from year begin to the end of report period Gains and losses from the disposal of non-current asset 4,663, Other non-operating income and expenditure beside for the aforementioned items -477, Influenced amount of minority shareholders equity 39, Impact on income tax -695, Total 3,530, Total number of shareholders at the end of the report period and shares held by the top ten shareholders with unrestricted conditions Unit: Share Total number of shareholders at the end of report period Particulars about the shares held by the top ten shareholders with unrestricted conditions Full name of shareholder Unrestricted shares held at period-end Type of shares ROBERT BOSCH GMBH Domestically listed foreign 18,387,200 share China Construction Bank Fuguo Tianbo Innovation Theme Stock Securities Investment Fund 12,756,865 RMB common share DRAGON BILLION CHINA MASTER FUND Domestically listed foreign 11,000,527 share GUOTAI JUNAN SECURITIES(HONGKONG) LIMITED Domestically listed foreign 10,886,783 share China Construction Bank Fullgoal Tianbo Innovation Theme Stock Fund 10,853,693 RMB common share China AMC Growth Stock Fund 9,765,521 RMB common share Bank of China Huaxia Return Securities Investment Fund 8,736,776 RMB common share Bank of Communications Huaan Innovation Securities Investment Fund 8,180,000 RMB common share China Construction Bank Huaxia Advantage Growth Stock Securities Investment Fund 6,379,706 RMB common share Agriculture Bank of China Dongwu Value Growth Double-motion Stock Securities Investment Fund 6,237,003 RMB common share Note 26,906 2

3 3. Significant events 3.1 Particulars about material changes in items of main accounting statement and financial index, and explanations of reasons Applicable Inapplicable 1. Operating income accumulatively realized RMB 3,976,875,400 from Jan. to Sep. with an increase of 87.42% y-o-y. Main reasons were: the substantial growth of leading products that influenced by the rapidly growth of commercial vehicles. 2. Operating expenses increase 74.72% over same period of last year. Main reason was: the growth of total operating income caused the increase of salary expenses. 3. Management expenses increase 61.74% over same period of last year. Mainly due to the increase of research &development expense and salary expenses. 4. Net profit attributable to parent company realized RMB 616,832,800 from Jan. to Sep with an increase of % y-o-y. Main reasons were: the rapidly growth of operating income, increase the investment income, strength in comprehensive management of the and the productivity promoted wholly. 5. Investment income realized RMB 355,206,800 from Jan. to Sep. with an increase of % y-o-y. Mainly due to the dramatically growth of profit from join-stock enterprise. 6. Monetary capital increase 47.62% over that of period-begin, mainly due to the cash in-flow increased. 7. Note receivable increase 55.77% over that of period-begin, mainly due to the sharp growth in sales volume. 8. Account receivable increase 49.93% over that of period-begin, mainly due to the sharp growth in sales volume. 9. Long-term investment increase 33.05% over that of period-begin, mainly due to the incomes from equity investment increased. 10. Construction in process increase % over that of period-begin, mainly due to the increase of investment in technical innovation. 11. Net cash flow from operating activities increase % compared with same period of last year, mainly due to the sales volume increased. 12. Cash in-flow from investment activities increase RMB 98,238,500 compared with same period of last year, mainly due to the increase of cash received from investment income and investment return profit. 13. Cash out-flow from investment activities increase RMB 278,434,700 compared with same period of last year, mainly due to the cash paid for investment increased. 3.2 Progress of significant events, their influences, and analysis and explanation of their solutions Qualified opinion Particular about fund offers to controlling shareholders or associated parties and external guarantee that against the regulation Particular about signing and implementation on significant contracts of ordinary management Others Applicable Inapplicable 1. the 9 th Meeting of 6 th Board of Directors held on 25 January for approving the followed acquisition: 3

4 (1) 30% equity of Wuxi Weifu Vehicle Diesel System Co., Ltd. held by Wuxi Industry Development Group Co., Ltd. (original Wuxi Weifu Group Co., Ltd.); (2) 9.17% equity of Wuxi Weifu International Trade Co., Ltd. held by Wuxi Industry Development Group Co., Ltd. (original Wuxi Weifu Group Co., Ltd.); (3) 50% equity of Kunmung Xitong Machinery Co., Ltd. held by Wuxi Industry Development Group Co., Ltd. (original Wuxi Weifu Group Co., Ltd.); The abovementioned acquisitions have been approved in the General Shareholders Meeting on 3 March. Till the end of this period, relevant equity acquisitions of Wuxi Weifu Vehicle Diesel System Co., Ltd. and Wuxi Weifu International Trade Co., Ltd. have been done. The transfer price for these acquisitions was RMB 127,500,900, till the end of this period, RMB 123,265,900 transfer account have been paid by the. 2. The 12 th Meeting of 6 th Board of Directors were held on 9 August, and approved to purchased 51% equity from Ningbo Tianli Turbocharger Co., Ltd. via capital-increased by cash. Acquisition price for this time was RMB million, and the account has been paid by the till the end of this period. 3. The 12 th Meeting of 6 th Board of Directors were held on 8 August, and consenting that more additional investment of RMB 30 million to Beijing Futian Environmental Dynamic Co., Ltd. from Wuxi Weifu Lida Catalytic Converter controlling subsidiary of the. Till the end of this period, RMB 30 million have been paid. 4. The 12 th Meeting of 6 th Board of Directors was held on 8 August, and consenting that carried out the work of retreat from urban area to industry zone, till the end of this period, the work still in the stage of planning. 3.3 Implementations of commitments by the, shareholders and actual controller Applicable Inapplicable Promiser Content of commitments Implementation Net profit of RMB 8.5 hundred million gained from 2006 to 2008, among which RMB 3.4 hundred million Wuxi gained in Base on the circulated A shares before Industry for Share the Share Merger Reform, additional 0.5 shares Developme Implemented Merger distributed for every 10 shares. Proportion of cash nt Group Reform dividend from 2006 to 2008 is not less than 50% of Co., Ltd. distributable profit for investors realized by the in current years. made in Acquisition Report or Naught Naught Naught Reports on Change in Interests made in Material Assets Reorganizatio n Naught Naught Naught Naught made in Naught Naught 4

5 issuing Other commitments (including additional commitments ) Wuxi Industry Developme nt Group Co., Ltd. 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 and shareholders of the, Weifu Industry Group committed: after Weifu High-tech finishing Share Merger Reform, under related regulations of the state and Wuxi government in terms of governance encouragement system of listed company, the Group would the stock incentive plan for management level of Weifu High-tech. The said commitment is being implemented, and would be performed since related policy is released. 3.4 Estimation of accumulative net profit from the beginning of the year to the end of next report period to be loss probably or the warning of its material change compared with the corresponding period of the last year and explanation of reason 3.5 Particulars about the other significant events which needed explanations Particular about security investment Activities on receiving research, communication and interview in the report period The received Contents discussed and Date Place Way parties materials supplied 5 July 15 July 12 August 9 September 15 September 20 September 21 September Telephone communication 3.6 Particulars about derivatives investment KGI 30-people union research from Orient Securities 20-people union research from CITI Securities 8-people union research from Guotai Junan Securities Value Partners Limited United Securities and China AMC Everbright Securities Particulars about the positions of derivatives investment at the end of report period 5

6 Applicable Inapplicable Board of Directors of Weifu High-Technology Group Co., Ltd. October27, 6