Items Movement of current year Income before tax Income tax Income after tax 3.Held-to-maturity ...

400 Pages·2017·7.45 MB·English

Movement of current year
Items Income before Income after
Income tax
tax tax
3.Held-to-maturity investments are reclassified to

profit or loss of available-for-sale financial assets
Less：Previously included in other comprehensive
income and transferred to profit or loss in the
current period
Subtotal
4.Cash flow hedge
Initial recognition of the hedged item adjusted
Less：Previously included in other comprehensive
income and transferred to profit or loss in the
current period
Subtotal
5.Exchange differences from translation of foreign

currency
Less：Previously included in other comprehensive
income and transferred to profit or loss in the
current period
Subtotal
C. Other comprehensive income 2,667,164.98 666,791.25 2,000,373.73
（Con’d）
Movement of last year
Items Income before Income after
Income tax
tax tax
A.Other comprehensive income that can not be

reclassified to profit or loss
1、Re-measure the changes in defined benefit

plan net liabilities or net assets
2、Equity under the equity method in other
comprehensive income that the investee can not
be reclassified to profit or loss
B.Other comprehensive income that will be

reclassified to profit or loss
1、share of the other comprehensive income that
will be reclassified to profit or loss under equity
method
Less ： Previously included in other
comprehensive income and transferred to profit
or loss in the current period
Subtotal
2. Gains and losses from changes in fair value of

available-for-sale financial assets
Less：Previously included in other
comprehensive income and transferred to profit 20,115,606.64 5,028,901.66 15,086,704.98
or loss in the current period
Subtotal -20,115,606.64 -5,028,901.66 -15,086,704.98
3.Held-to-maturity investments are reclassified to

profit or loss of available-for-sale financial assets
F-403
Movement of last year
Items Income before Income after
Income tax
tax tax
Less：Previously included in other
comprehensive income and transferred to profit
or loss in the current period
Subtotal
4.Cash flow hedge
Initial recognition of the hedged item adjusted
Less：Previously included in other
comprehensive income and transferred to profit
or loss in the current period
Subtotal
5.Exchange differences from translation of

foreign currency
Less：Previously included in other
comprehensive income and transferred to profit
or loss in the current period
Subtotal
C. Other comprehensive income -20,115,606.64 -5,028,901.66 -15,086,704.98
（2）Adjustments of the items included in other comprehensive income
Share of other Share of other
Re-measure comprehensive comprehensive
Gains and losses
the changes income that the income that the
from changes in
in defined investee can not investee can be
Items fair value of
benefit plan be reclassified to reclassified to
available-for-sale
net liabilities profit or loss profit or loss
financial assets
or net assets under equity under equity
method method
1. Balance as at beginning
14,315,914.70
of last year
2. Changes of last year
-14,315,914.70
（“－”for decrease）
3. Beginning balance of

the year
4. Changes for the year
2,000,373.73
（“－”for decerease）
5. Ending balance for the
2,000,373.73
year
（Con’d）
Held-to-maturity
investments that
Other
reclassified to Cash flow Translation
Items Others comprehensive
profit or loss of hedge difference
income
available-for-sale
financial assets
F-404
Held-to-maturity
investments that
Other
reclassified to Cash flow Translation
Items Others comprehensive
profit or loss of hedge difference
income
available-for-sale
financial assets
1. Balance as at beginning
14,315,914.70
of last year
2. Changes of last year
-14,315,914.70
（“－”for decrease）
3. Beginning balance of

the year
4. Changes for the year
2,000,373.73
（“－”for decerease）
5. Ending balance for the
2,000,373.73
year
Note: The after-tax amount of share of total comprehensive income attributable to non-controlling
interests is RMB 289,735.25.
67、LEASE
（1）Finance lease (lessee), the minimum lease payments to be paid in future years are as
follows:
Remaining leasing period Minimum lease payment
Within 1 year (including 1 year) 801,302,421.58
1 to 2 years (including 2 years） 973,504,672.90
2 to 3 years (including 3 years） 388,541,860.59
Over 3 years 18,152,705.43
Total 2,181,501,660.50
Note：The balance of unrecognized financing expenses at the end of the period was
RMB193,241,684.8 (balance at the end of 2016 was RMB183,657,668.21).
（2）Operating lease (lessor)
Items Closing balance Opening balance
专用设备 2,069,950.77
Total 2,069,950.77
68、CONSOLIDATED CASH FLOW STATEMENT SUPPLEMENTARY INFORMATION
（1）Reconciliation of net profit to operating activities of cash flow
Movement of current Movement of last
Items
period period
1、Cash flow from operating activities
Net profit 454,244,142.20 -689,158,518.34
Add：Provision for impairment 268,645,322.69 219,001,905.85
Depreciation of fixed assets 1,032,480,742.18 1,372,782,956.20
Amortization of intangible assets 132,419,430.83 137,785,953.06
F-405
Movement of current Movement of last
Items
period period
Amortization of deferred expense 46,793,334.46 30,906,599.03
Loss on disposal of fixed assets, Intangible assets
-66,418,891.87 -5,912,178.40
and other non-current assets(“-” for gains)
Loss on scrap of fixed assets (“-” for gains) 9,610,378.05 11,409,020.94
Loss on the change of fair value (“-” for gains) -35,659,196.45 -14,035,498.46
Financial expenses (“-” for gains) 1,719,595,373.39 1,207,596,115.97
Investment loss (“-” for gains) -537,900,526.45 122,762,993.38
Decrease in deferred tax assets(“-” for increase) 59,754,577.29 363,057.92
Increase in deferred tax liabilities(“-” for decrease) -10,409,889.76 -27,725,179.34
Decrease in inventories (“-” for increase) 315,718,805.74 -92,948,425.96
Decrease in operating receivables (“-” for increase) -18,186,440.51 -873,393,840.72
Increase in operating payables (“-” for decrease) -1,909,807,108.56 -915,027,264.30
Others
Net cash flow from operating activities 1,460,880,053.23 484,407,696.83
2、Investing and financing activities that were not

related to cash movement：
Liabilities transferred to equity
Convertible bonds due within 1 year
Finance lease transfer to fixed assets
3、Change in cash and cash equivalents：
Cash at the end of the period 3,704,315,792.61 2,467,403,386.35
Less: cash at the beginning of the period 2,467,403,386.35 3,702,518,566.17
Add: cash equivalents at the end of the period
Less: cash equivalents at the beginning of the period 874.05
Net increase in cash and cash equivalents 1,236,912,406.26 -1,235,116,053.87
（2）Information about subsidiaries or other business units acquired or disposed of during the
reporting period
For details, please refer to noteVII.5. The entities newly included in the scope of consolidation and
the entities no longer included in the scope of consolidation in this period.
（3）Composition of cash and cash equivalents
Movement of current Movement of last
Items
period period
1、Cash at bank and on hand 3,704,315,792.61 2,467,403,386.35
Included：Cash 576,003.47 455,048.66
Bank deposits available 2,616,794,605.31 1,679,209,608.31
Other deposits available 1,086,945,183.83 787,738,729.38
2、Cash equivalents
Included：Bond due within 3 months
3、Closing balance of cash and cash equivalent 3,704,315,792.61 2,467,403,386.35
F-406
69、ASSETS WITH LIMITED OWNERSHIP AND USAGE RIGHTS
Items Closing balance Restricted reason
Long-term equity
1,465,616,996.36 Holds 20% equity of cement group
investment
Short-term borrowing pledge （ inlcuding
RMB17,593,828.53 is rights to receive tutorial
Other receivables 29,593,828.53
fees and accommodation fees ，
RMB12,000,000.00is guarantee for payment）
Sales and lease back finance lease assets,
Fixed assets 1,060,388,130.45
mortgage loans
Intangible assets 825,676,714.69 Mortgage loan

IX. CONTINGENCIES
As of 31st December 2017, the Company did not have material contingencies to disclose.

X.EVENTS AFTER THE BALANCE SHEET DATE
As of the date of approval of the review report, the Company does not have post balance sheet
events to disclose.

XI.RELATED PARTIES AND RELATED PARTY TRANSACTIONS
1、The competent department of the Company is State assets supervision and Administration
Committee of Yunnan（云南省国有资产监督管理委员会）.
2、Subsidiaries of the Company
For details, please refer to Note VII.1. Subsidiaries
3、Joint ventures and associates of the Company.
For details, please refer to Note VIII.14 Long-term equity investment.
4、Other related parties of the Company
Relationship with the
Name of other related parties Organization Code
Company
Wukun Steel Co.Ltd. (武钢集团昆明钢铁股份有
Associate 75716029-2
限公司)及下属单位
Prco (Yunnan) Kisc Refractories Co.,Ltd. (云南
Associate 72730716-9
濮耐昆钢高温材料有限公司)
Yunnan Hexie Aviation Co., Ltd.（云南和谐通用
Associate 56319430-4
航空股份有限公司）
Fuyuan coal resources comprehensive
utilization Co., Ltd.（富源煤资源综合利用有限公 Associate 55011623-5
司）
Yunnan Kunhua hospital investment and
management Co., Ltd.（云南昆华医院投资管理 Associate 55273028-X
有限公司）
Pu'er Kunming Kerry Wah Cement Building
Material Co., Ltd.(普洱昆钢嘉华水泥建材有限公 Associate 59456120-X
司)
F-407
Relationship with the
Name of other related parties Organization Code
Company
Yunnan Kungang Steel Composite Material
Engineering Technology Co Ltd(云南昆钢复合 Associate 58964293-7
材料工程技术有限公司)
Yunnan kunming steel union laser technology
Associate 75355606-2
co. LTD.（云南昆钢联合激光技术有限公司）
Honghe Yuanyang Ziyan cement limited liability
Associate 21807239-X
company（红河州元阳紫燕水泥有限责任公司）
Panzhihua yili mining Limited by Share Ltd（攀
Associate 73339207-2
枝花一立矿业股份有限公司）
5、Related party transactions
（1）Pricing policy
The pricing between the Company and its related parties in providing products and services is
based on the principle of being market-oriented and following the principle of equality, voluntarism,
equivalence and compensation with reference to the market price. If the government (including the
local government) has government price, then implementation of government pricing; If government
has guidance price, then implementation of government guidance price; If no market price, government
pricing, government guidance, then follow the principle of equality and voluntariness negotiate pricing
by the supply and demand sides.
（2）Related party transactions of purchase and sale of goods, provision and acceptance of labor
services
①Purchase of goods / services related transactions
Related parties Transaction Current period Last period
Honghe Iron & Steel Co.,Ltd. (红河钢铁有限公
Steel 410,577,143.08 293,152,804.74
司)
Honghe Iron & Steel Co.,Ltd. (红河钢铁有限公
Others 99,725.57 45,084.71
司)
昆钢股份公司大理经营部 Steel 1,055,171.70 19,731,520.53
昆钢股份公司大理经营部 Others 242,653.84
Wukun Steel Co.Ltd.Kunming Branch（昆钢股
Steel 483,771.69 27,551,304.80
份公司昆明经营部）
Wukun Steel Co.Ltd.Lijiang Branch（昆钢股份
Others 12,406.27
公司丽江经营部）
Wukun Steel Co.Ltd.Baoshan Branch（昆钢股
Steel 7,683,002.91
份公司楚雄经营部）
Wukun Steel Co.Ltd.Baoshan Branch（昆钢股
Steel 1,540,202.08
份公司保山经营部）
Wukun Steel Co.Ltd.Baoshan Branch（昆钢股
Others 445,532.92
份公司保山经营部）
Kunming Iron and Steel shares Red River
Sales of
Economic and Trade Co., Ltd.(昆钢股份红河 21,611,069.45 76,685,227.70
materials
经贸有限公司)
Kunming Iron and Steel shares Red River
Economic and Trade Co., Ltd.(昆钢股份红河 Steel 183,295,276.54 791,795,617.34
经贸有限公司)
F-408
Related parties Transaction Current period Last period
Ruili Kungang Border Trade Co.,Ltd. (瑞丽昆
Steel 248,241.58 497,584.00
钢边贸有限责任公司)
Wukun Steel Co.Ltd.(武钢集团昆明钢铁股份
Others 64,858.49 9,571,661.84
有限公司)
Wuhan Iron and Steel Kunming Iron and Steel
Steel 5,921,517.00 7,390,148.63
Shares Branch(武钢昆钢股份铁运分公司)
Wuhan Iron and Steel Kunming Iron and Steel
Others 108,574.81
Shares Branch(武钢昆钢股份铁运分公司)
Wukun Steel Co.Ltd. Anning Division（武钢
Steel 4,020,984,186.05 2,723,609,105.98
集团昆明钢铁股份有限公司安宁分公司）
Wukun Steel Co.Ltd. Anning Division（武钢
Others 1,085,358.20 429,798.36
集团昆明钢铁股份有限公司安宁分公司）
Wukun Steel Co.Ltd. New Division(武钢集团昆
Steel 45,843,835.35
钢股份公司新区分公司)
Wukun Steel Co.Ltd. New Division(武钢集团昆 Sales of
698,980,288.36 397,731,827.72
钢股份公司新区分公司) materials
Wukun Steel Co.Ltd. New Division(武钢集团昆
Others 34,576.80
钢股份公司新区分公司)
Wukun Steel Co.Ltd. Energy Branch(武钢集团 Sales of
80,626,276.80 61,025,707.65
昆明钢铁股份有限公司能源分公司) materials
Wukun Steel Co.Ltd. Energy Branch(武钢集团
Others 6,153.85
昆明钢铁股份有限公司能源分公司)
武钢集团昆明钢铁股份有限公司怒江经营部 Others 160,057.70
Yuxi Xinxing Steel Co.,Ltd. (玉溪新兴钢铁有限
Steel 518,687,636.38 346,586,248.80
公司)
Yuxi Xinxing Steel Co.,Ltd. (玉溪新兴钢铁有限
Others 791,437.35
公司)
Yuxi Xinxing Steel Co.,Ltd. (玉溪新兴钢铁有限
Steel 5,103,146.90
公司)版纳经营部
Yunnan Pan-asia E-commerce Co., Ltd. (云南 Sales of
16,592,219.68 24,004,762.98
泛亚电子商务有限公司) materials
Yunnan Pan-asia E-commerce Co., Ltd. (云南
Steel 184,706.33 12,644,443.22
泛亚电子商务有限公司)
Yunnan Pan-asia E-commerce Co., Ltd. (云南
Others 45,123,352.03 54,285,047.34
泛亚电子商务有限公司)
Yunnan Pan-asia E-commerce Co., Ltd. (云南
Ore 52,608,180.63 47,143,334.75
泛亚电子商务有限公司)
Yunnan Kungang International Trade Co., Ltd.
Steel 2,051,991,641.38 1,240,703,646.03
(云南昆钢国际贸易有限公司)
Yunnan Kungang International Trade Co., Ltd.
Others 344,227.56
(云南昆钢国际贸易有限公司)
Kungang Bridge Steel Co.,Ltd. (云南昆钢桥钢
Steel 303,738,433.37 2,183,209,845.61
有限公司)
Kungang Bridge Steel Co.,Ltd. (云南昆钢桥钢
Others 537.74
有限公司)
Kungang Bridge Steel Co.,Ltd. (云南昆钢桥钢
Steel 164,068.29
有限公司)东川经营部
Kungang Trading Co. Limited (昆港贸易有限
Steel 64,364,087.41 77,160,916.53
公司)
Total 8,532,944,078.62 8,402,815,116.73
F-409
②Related transactions of selling goods / providing labor services
Related parties Transaction Current period Last period
Honghe Iron & Steel Co.,Ltd. (红河 Maintenanc
8,840,450.54 16,446,532.95
钢铁有限公司) e and repair
Honghe Iron & Steel Co.,Ltd. (红河 Sales of
53,678.44 24,588.88
钢铁有限公司) materials
Honghe Iron & Steel Co.,Ltd. (红河 Processing
5,053,180.06 6,155,834.07
钢铁有限公司) income
Honghe Iron & Steel Co.,Ltd. (红河
Construction 7,891,427.37 4,766,947.11
钢铁有限公司)
Ore and
Honghe Iron & Steel Co.,Ltd. (红河
mineral 468,138,714.62 404,568,164.21
钢铁有限公司)
powder
Cement and
Honghe Iron & Steel Co.,Ltd. (红河
building 439,919.54 6,489,479.12
钢铁有限公司)
materials
Honghe Iron & Steel Co.,Ltd. (红河
Others 446,449.18 10,007,770.86
钢铁有限公司)
Honghe Iron & Steel Co.,Ltd. (红河 Transportati
133,792,479.23 118,916,286.78
钢铁有限公司) on
Honghe Iron & Steel Co.,Ltd. (红河 Coking
498,382,617.39 468,842,795.27
钢铁有限公司) products
Honghe Iron & Steel Co.,Ltd. (红河
Services 1,255,566.19 877,214.62
钢铁有限公司)
Honghe Iron & Steel Co.,Ltd. (红河 Trading
281,197,774.76 126,919,191.50
钢铁有限公司) income
Honghe Iron & Steel Co.,Ltd. (红河 New
176,374.38
钢铁有限公司) materials
Honghe Iron & Steel Co.,Ltd. (红河
Lease 9,926,052.73
钢铁有限公司)
Wukun Steel Co.Ltd. New
Maintenanc
Division(武钢集团昆钢股份公司新区 14,287,801.83 26,837,736.36
e and repair
分公司)
Wukun Steel Co.Ltd. New
Trading
Division(武钢集团昆钢股份公司新区 36,003,479.84 46,765,168.75
income
分公司)
Wukun Steel Co.Ltd. New
Power
Division(武钢集团昆钢股份公司新区 756,284,460.26 392,633,194.67
Products
分公司)
Wukun Steel Co.Ltd. New
Division(武钢集团昆钢股份公司新区 Services 7,685,597.62 7,153,358.02
分公司)
Wukun Steel Co.Ltd. New
Processing
Division(武钢集团昆钢股份公司新区 7,253,652.86 6,212,119.97
income
分公司)
Wukun Steel Co.Ltd. New
Division(武钢集团昆钢股份公司新区 Construction 41,472,929.65 8,986,497.16
分公司)
Wukun Steel Co.Ltd. New Ore and
Division(武钢集团昆钢股份公司新区 mineral 255,399,777.02 385,683,782.83
分公司) powder
Wukun Steel Co.Ltd. New Transportati
88,512,563.48 121,303,959.01
Division(武钢集团昆钢股份公司新区 on
F-410
Related parties Transaction Current period Last period
分公司)
Wukun Steel Co.Ltd. New
Division(武钢集团昆钢股份公司新区 Lease 498,568.56 865,084.31
分公司)
Wukun Steel Co.Ltd. New
Sales of
Division(武钢集团昆钢股份公司新区 1,640,806.80 336,800.60
materials
分公司)
Wukun Steel Co.Ltd. New
Coking
Division(武钢集团昆钢股份公司新区 210,945,477.17 141,457,733.05
products
分公司)
Kunming Iron and Steel shares Red
Transportati
River Economic and Trade Co., 2,047,292.17 94,141,273.65
on
Ltd.(昆钢股份红河经贸有限公司)
Kunming Iron and Steel shares Red
Trading
River Economic and Trade Co., 149,505,257.05
income
Ltd.(昆钢股份红河经贸有限公司)
Kunming Iron and Steel shares Red
Coking
River Economic and Trade Co., 11,314,625.21
products
Ltd.(昆钢股份红河经贸有限公司)
Kunming Iron and Steel shares Red
River Economic and Trade Co., Others 475,642.68

Ltd.(昆钢股份红河经贸有限公司)
Kunming Iron and Steel shares Red
River Economic and Trade Co., Services 7,657.55 1,600.00
Ltd.(昆钢股份红河经贸有限公司)
Wukun Steel Co.Ltd.Kunming Transportati
17.95 968.38
Branch（昆钢股份公司昆明经营部） on
Wukun Steel Co.Ltd.Kunming Power
952.99
Branch（昆钢股份公司昆明经营部） Products
Ruili Kungang Border Trade Co.,Ltd. Transportati
64,558.27 69,902.94
(瑞丽昆钢边贸有限责任公司) on
Ruili Kungang Border Trade Co.,Ltd. Trading
450,341.55
(瑞丽昆钢边贸有限责任公司) income
Ruili Kungang Border Trade Co.,Ltd.
Lease 100,000.00
(瑞丽昆钢边贸有限责任公司)
Ruili Kungang Border Trade Co.,Ltd.
Services 12,796.31 2,575.25
(瑞丽昆钢边贸有限责任公司)
Kungang Trading Co. Limited (昆港 Trading
295,294,170.70 193,055,010.00
贸易有限公司) income
Kungang Trading Co. Limited (昆港 Transportati
23,931.63 221,068.39
贸易有限公司) on
Wukun Steel Co.Ltd.(武钢集团昆明 Sales of
74,880.00 456,701.49
钢铁股份有限公司) materials
Wukun Steel Co.Ltd.(武钢集团昆明 Power
49,531.53 42,172.37
钢铁股份有限公司) Products
Wukun Steel Co.Ltd.(武钢集团昆明
Construction 6,355,747.92 3,474,822.09
钢铁股份有限公司)
Wukun Steel Co.Ltd.(武钢集团昆明 Processing
331,401.62 340,561.40
钢铁股份有限公司) income
Wukun Steel Co.Ltd.(武钢集团昆明
Others 478,408.68 12,117,270.09
钢铁股份有限公司)
Wukun Steel Co.Ltd.(武钢集团昆明 Ore and
3,740,092.90
钢铁股份有限公司) mineral
F-411
Related parties Transaction Current period Last period
powder
Wukun Steel Co.Ltd.(武钢集团昆明 Equipment
194,861.95
钢铁股份有限公司) sales
Wukun Steel Co.Ltd.(武钢集团昆明 Transportati
6,074,066.03 2,358,058.62
钢铁股份有限公司) on
Wukun Steel Co.Ltd.(武钢集团昆明
Lease 12,823,161.53 594,934.89
钢铁股份有限公司)
Wukun Steel Co.Ltd.(武钢集团昆明
Services 23,576,708.61 10,339,466.78
钢铁股份有限公司)
Wukun Steel Co.Ltd.(武钢集团昆明 Trading
18,320,101.32 48,003,998.56
钢铁股份有限公司) income
Wukun Steel Co.Ltd.(武钢集团昆明 New
21,914.09 17,948.72
钢铁股份有限公司) materials
Wukun Steel Co.Ltd.(武钢集团昆明 Maintenanc
89,402.97
钢铁股份有限公司) e and repair
Wukun Steel Co.Ltd. Anning
Maintenanc
Division（武钢集团昆明钢铁股份有 18,896,247.86
e and repair
限公司安宁分公司）
Wukun Steel Co.Ltd. Anning
Division（武钢集团昆明钢铁股份有 Construction 22,598,731.96 21,508,117.95
限公司安宁分公司）
Wukun Steel Co.Ltd. Anning
Coking
Division（武钢集团昆明钢铁股份有 1,495,867,556.78 782,403,620.34
products
限公司安宁分公司）
Wukun Steel Co.Ltd. Anning
Transportati
Division（武钢集团昆明钢铁股份有 332,923,095.89 263,344,648.09
on
限公司安宁分公司）
Wukun Steel Co.Ltd. Anning
Trading
Division（武钢集团昆明钢铁股份有 244,316,306.23 57,408,097.29
income
限公司安宁分公司）
Wukun Steel Co.Ltd. Anning
Power
Division（武钢集团昆明钢铁股份有 664,320,661.57 697,509,785.31
Products
限公司安宁分公司）
Wukun Steel Co.Ltd. Anning
Division（武钢集团昆明钢铁股份有 Services 14,428,125.70 7,078,935.43
限公司安宁分公司）
Wukun Steel Co.Ltd. Anning
Sales of
Division（武钢集团昆明钢铁股份有 2,828,057.67 2,675,299.99
materials
限公司安宁分公司）
Wukun Steel Co.Ltd. Anning
Processing
Division（武钢集团昆明钢铁股份有 8,688,222.53 13,487,932.56
income
限公司安宁分公司）
Wukun Steel Co.Ltd. Anning Ore and
Division（武钢集团昆明钢铁股份有 mineral 114,123,486.89 257,884,149.31
限公司安宁分公司） powder
Wukun Steel Co.Ltd. Anning
Division（武钢集团昆明钢铁股份有 Others 149,206.84 5,073,477.15
限公司安宁分公司）
Wukun Steel Co.Ltd. Anning
Equipment
Division（武钢集团昆明钢铁股份有 1,833,136.67 28,518,033.71
sales
限公司安宁分公司）
Wukun Steel Co.Ltd. Anning New
73,101.67 99,099.10
Division（武钢集团昆明钢铁股份有 materials
F-412