Sinosteel Luoyang Institute of Refractories Research Co., Ltd.

43# Xiyuan Road, Jianxi District, Luoyang, Henan, 471039, China

2018 （till May） Annual balance sheet

Closing Beginning Closing Beginning
Item NO. Item NO.
balance balance balance balance
— —
Current liabilities： —— —— Current liabilities: —— ——
— —
Cash and cash equivalents 1 144299536 155235450.4 Short-term borrowing 40 0 0
Finacial assets measured at fair
value and changes of which 2 1049797.28 1049797.28 Including: Borrowing from bank 41 0 0
included in current profit and loss
Financial liabilities measured at fair
Derivative financial assets 3 0 0 value and changes of which included in 42 0 0
current profit and loss
Notes receivable 4 3247539.2 19281187.42 Derivative financial liabilities 43 0 0
Accounts receivable 5 314734797 272841665.1 Notes payable 44 77793229.35 36475307.85
Advence to accounts 6 14592697.8 9502494.85 Account payable 45 192288422 193876342
Dividend receivable 7 0 0 Advance from customers 46 20186949.52 18432396.42
Interest receivable 8 0 0 Staff salaries 47 1832801.15 2513015.34
Other receivables 9 50755727.9 49247650.15 Including:accrued payroll 48 310370.06 274109.33
Inventory 10 199797171 169277602.3 Welfare payable 49 0 0
Including:finished goods 11 99553298.6 84582705.56 Taxes payable 50 3307095.6 10554465.71
Raw materials 12 67537520.6 49263110.34 Interest payable 51 1520000 0
13 0 0 Dividends payable 52 68814329.91 73814329.91
Classified as assets held for sale
Non-current
14 0 0 Other payables 53 30042045.07 25980990.81
assets matured within one year 
Other current assets 15 0 4807917.47 Classified as available for sale assets 54 0 0
Non-
Total current assets 16 728477266 681243764.9 55 2000000 2000000
current assets matured within one year
—
Non-current assets: —— —— Other Current liabilities 56 0 0
—
 Available-for-
17 100000 100000 Total Current liabilities 57 397784872.6 363646848.1
sale financial assets
—
Held-to-maturity investment  18 0 0 Non-current liabilities: —— ——
—
Long-term receivables 19 0 0 Long-term loan 58 368516056 368516056
Long-term equity investment 20 0 0 Including: Borrowing from bank 59 368516056 368516056
Investment real estate 21 0 0 Debentures payable 60 0 0
Fixed assets-cost 22 425169422 423172006.9 Long-term payables 61 0 0
Less:accumulated dpreciation 23 223780842 216303830.1 Long-term Staff salaries 62 0 0
Fixed assets-net value 24 201388580 206868176.8 Ear-marked payables 63 16680000 16680000
Less:Impairment of fixed 25 463799.93 482816.21 Contingent liabilities  64 0 0
Net value of fixed assets 26 200924780 206385360.5 Deferred income 65 37403932.4 30581300.06
Construction in Progress 27 1036811.71 750894.63 Deferred tax liabilities 66 0 0
Project material 28 0 0 Other non-current liabilities 67 0 0
Disposal of fixed assets 29 0 583765.17 Total non-current liabilities 68 422599988.4 415777356.1
Productive biogogical assets 30 0 0 Total liablities 69 820384861 779424204.1
—
Oil and gas assets 31 0 0 Total owners' equity —— ——
—
Intangible assets 32 149479279 153724720.4Registered capital 70 324595720.8 324595720.8
Development expenditure 33 12299876.7 7213386.84 Including:national capital 71 358825249.8 324595720.8
Goodwill 34 0 0 Capital reserve 72 13600655.26 13600655.26
Long-term deferred expenses 35 0 0 Less: treasury stocks 73 0 0
Deferred income tax assets 36 111579.6 111579.6 Other comprehensive income 74 0 0
Including: Converted difference in
Other non-current assets 37 0 0 75 0 0
Foreign Currency Statements
Special reserve 76 0 0
Surplus reserve 77 7553362.57 7553362.57
Including:Legal surplus reserve 78 7553362.57 7553362.57
Discretionary surplus reserve 79 0 0
Undistributed profits 80 -113389640.9 -112983337
Total owners' equity belongs to parent
81 232360097.7 232766401.6
company
Minority interest 82 39684634.79 37922866.33
Total non-current assets 38 363952327 368869707.2 Total owners' equity 83 272044732.5 270689267.9
Total assets 39 1092429594 1050113472 Total liabilities owners' equity 84 1092429594 1050113472