CSG HOLDING CO., LTD.
THE THIRD QUARTER REPORT 2018
Chairman of the Board:
CHEN LIN
October 2018
Section I. Important Notice
Board of Directors and the Supervisory Committee of CSG Holding Co., Ltd. (hereinafter referredto as the Company) and its directors, supervisors and senior executives hereby confirm that thereare no any fictitious statements, misleading statements, or important omissions carried in this report,and shall take all responsibilities, individual and/or joint, for the facticity, accuracy andcompleteness of the whole contents.All directors were present the meeting of the Board for deliberating the Third Quarter Report of2018 of the Company in person.Ms. Chen Lin, Chairman of the Board, Mr. Wang Jian, responsible person in charge of accountingand Ms.Wang Wenxin, principal of the financial department (accounting officer) confirm that theFinancial Report enclosed in the Third Quarter Report of 2018 of the Company is true, accurate andcomplete.This report is prepared both in Chinese and English. Should there be any inconsistency between theChinese and English versions, the Chinese version shall prevail.
Section II. The Basic Information of the Company
I. Main accounting data and financial indices
Whether retrospective adjustment has been carried out on financial reports of previous periods or not□Yes √ No
The end of current period The end of last year
Increase/decrease incomparison with the end of
last yearTotal assets (RMB ) 19,846,932,488.00
19,535,002,368.00
1.60%
Net assets attributable to shareholders ofthe Company (RMB )
8,956,264,606.00
8,458,587,873.00
5.88%
Current period
Increase/decrease incomparison with thesame period of last year
From 1 January to30 September 2018
Increase/decrease incomparison with thesame period of 2017
Operating income (RMB)2,680,693,459.00
-5.83%
8,151,251,436.00
4.63%
Net profit attributable to shareholders ofthe listed company (RMB)
[Note (1)]
116,279,185.00
-63.44%
469,116,338.00
-34.02%
[Note (6)]
Net profit attributable to shareholders ofthe listed company after deductingnon-recurring gains and losses (RMB)
[Note (2)]
86,201,062.00
-69.01%
419,639,159.00
-34.28%
Net cash flow arising from operatingactivities (RMB)
-- -- 1,410,826,022.00
-21.74%
Basic earnings per share (RMB/Share)
[Note (3)]
0.04
-66.67%
0.17
-34.62%
Diluted earnings per share (RMB/Share)
[Note (4)]
0.04
-66.67%
0.16
-38.46%
Weighted average ROE
[Note (5)]
1.34%
-2.57%
5.39%
-3.35%
Note:
Note (1): The data in the above table has included apportionment of equity incentive expense included in profit and loss of RMB
140.41 million from Jan. to Sep. 2018, which affected the net profit attributable to shareholders of the listed company of RMB123.43 million . In the period from Jan. to Sep. 2018, after eliminating the impact of equity incentive cost sharing, the net profitattributable to shareholders of the listed company was RMB 592.54 million , with a year-on-year decrease of RMB 118.47 millionand decrease ratio of 17%.
Note (2): After eliminating the impact of equity incentive cost sharing, net profit attributable to shareholders of the listed companyfrom Jan. to Sep. 2018 was RMB 543.07 million with a year-on-year decrease of RMB 95.42 million and decrease ratio of 15%.
Note (3): After eliminating the impact of equity incentive cost sharing, basic earnings per share from Jan. to Sep. 2018 was RMB
0.21 per share, with year-on-year decrease ratio of 19%.Note (4): After eliminating the impact of equity incentive cost sharing, diluted earnings per share from Jan. to Sep. 2018 was RMB
0.21 per share, with year-on-year decrease ratio of 19%.Note (5): After eliminating the impact of equity incentive cost sharing, weighted average ROE from Jan. to Sep. 2018 was 6.81%,with year-on-year decrease ratio of 1.93%.Note (6): The main reason for the decline was that the prices of major products in the solar industry continued to decline as theinstalled capacity of new ordinary PV power stations dropped sharply after the "5.31 New Policy". In the period from Jan. to Sep.2018, the solar industry realized revenue of RMB 1.977 billion, with a year-on-year decrease of RMB 242 million compared anddecrease ratio of 10.9%, and a cumulative net profit of RMB -103 million, a year-on-year decrease of RMB 309 million.In the period from Jan. to Sep. 2018, the operation of other industries of the Company was in good condition. The glass industryachieved operating income of RMB 5.518 billion, with a year-on-year increase of RMB 431 million and growth rate of 8.5%, and netprofit of RMB 625 million, with a year-on-year increase of RMB 61 million and growth rate of 11%. The electronic glass and displayindustry realized revenue of RMB 729 million from Jan. to Sep. 2018, with a year-on-year increase of RMB 123 million of 20%, andnet profit of RMB 104 million, with a year-on-year increase of RMB 58 million and growth rate of 122%.
The total share capital of the company as of the previous trading day of disclosure:
The total share capital of the company as of the previous trading day of disclosure (share) 2,863,277,201
Fully diluted earnings per share calculated with latest equity (RMB/share) 0.16
Items and amounts of extraordinary profit (gains)/loss√Applicable □ Not applicable
Unit: RMBItem
Amount from the beginning of year
to the end of the report period
NoteGains/losses from the disposal of non-current asset (including the write-off that
accrued for impairment of assets)
-455,305.00
Governmental subsidy reckoned into current gains/losses (not including thesubsidy enjoyed in quota or ration according to national standards, which areclosely relevant to enterprise’s business)
54,298,963.00
Other non-operating income and expenditure except for the aforementioneditems
7,190,386.00
Less: Impact on income tax9,103,310.00
Impact on minority shareholders’ equity (post-tax)2,453,555.00
Total 49,477,179.00
--Explain reasons for the extraordinary profit (gain)/loss defined by Q&A Announcement No.1 on Information Disclosure forCompanies Offering Their Securities to the Public --- Extraordinary Profit/loss, and the items defined as recurring profit (gain)/lossaccording to the lists of extraordinary profit (gain)/loss in Q&A Announcement No.1 on Information Disclosure for CompaniesOffering Their Securities to the Public --- Extraordinary Profit/loss
□Applicable √ Not applicable
It did not exist that the items were defined as recurring profit (gain)/loss according to the definition or the list of extraordinary profit
(gain)/loss in Q&A Announcement No.1 on Information Disclosure for Companies Offering Their Securities to the Public ---Extraordinary Profit/loss in the report period.
II. Total of shareholders at the end of the report period and particulars about shareholdingsof the top ten shareholders
1. Particulars about the total number of common shareholders and preference shareholders with votingrights recovered as well as the shareholdings of the top ten shareholders
Unit: ShareTotal number of common shareholdersat the end of the report period
152,928
Total number of preference shareholders with voting rightsrecovered at end of report period (if applicable)
Particulars about the shareholdings of the top ten shareholdersName of shareholder Nature of shareholder
of sharesheld (%)
Proportion
Amount ofshares held
Amount ofrestrictedshares held
Number of share
pledged/frozenSharestatus
Amount
Foresea Life Insurance Co., Ltd. – HailiNiannian
Domestic non state-
owned
legal person
14.81%
| owned | ||
423,988,067
Foresea Life Insurance Co., Ltd. –Universal Insurance Products
Domestic non state-
legal person
3.76%
| owned | ||
107,659,097
Shenzhen Jushenghua Co., Ltd.
Domestic non state-
legal person
2.75%
| owned | ||
78,757,679
Foresea Life Insurance Co., Ltd. –
Own
Fund
Domestic non state-
| Own | owned |
legal person
2.06%
58,877,419
Central Huijin Asset Management Ltd. State-owned legal person
1.84%
52,650,444
(Hong Kong) Co., Limited
Foreign legal person 1.30%
| China Galaxy International Securities | ||
37,313,064
Limited
State-owned legal person
China Merchants Securities (HK) Co.,
1.02%
29,093,513
Shenzhen International Holdings (SZ) Limited
Domestic non state-
owned
legal person
0.92%
| owned | ||
26,450,000
Wang Heng Domestic natural person 0.64%
18,375,167
VANGUARD EMERGING MARKETSSTOCK INDEX FUND
Foreign legal person 0.61%
17,563,848
Particulars about top ten shareholders with unrestricted shares heldName of shareholder
Amount ofunrestricted shares
held
Type of sharesType Amount
Foresea Life Insurance Co., Ltd. – Haili Niannian 423,988,067
RMB ordinary shares 423,988,067
Foresea Life Insurance Co., Ltd. – UniversalInsurance Products
107,659,097
RMB ordinary shares 107,659,097
Shenzhen Jushenghua Co., Ltd. 78,757,679
RMB ordinary shares 78,757,679
Foresea Life Insurance Co., Ltd. – Own Fund 58,877,419
RMB ordinary shares 58,877,419
Central Huijin Asset Management Ltd. 52,650,444
RMB ordinary shares 52,650,444
Co., Limited
37,313,064
China Galaxy International Securities (Hong Kong)
Domestically listed foreign shares
37,313,064
China Merchants Securities (HK) Co., Limited 29,093,513
Domestically listed foreign shares
29,093,513
Shenzhen International Holdings (SZ) Limited 26,450,000
RMB ordinary shares 26,450,000
Wang Heng 18,375,167
RMB ordinary shares 18,375,167
VANGUARD EMERGING MARKETS STOCKINDEX FUND
17,563,848
Domestically listed foreign shares
17,563,848
Statement on associated relationship or consistentaction among the above shareholders:
Among shareholders as listed above, Foresea Life Insurance Co., Ltd.-
Haili
Niannian, Foresea Life Insurance Co., Ltd.-Universal Insurance P
Hailiroducts,
Foresea Life Insurance Co., Ltd.-Own Fund are all held by Foresea Life
roducts,
Insurance Co., Ltd. Shenzhen Jushenghua Co., Ltd. is a related legal person
of Foresea Life
Insurance Co., Ltd. Shenzhen Jushenghua Co., Ltd. is a related legal personInsurance Co., Ltd. and Chengtai Group Co., Ltd., another
related legal person of Foresea Life Insurance Co., Ltd, which held
Insurance Co., Ltd. and Chengtai Group Co., Ltd., another
36,534,458 shares via China Galaxy International Sec
urities (Hong Kong)
Co., Limited.Except for the above-mentioned shareholders, It is unknown whether othershareholders belong to related party or have associated relationshipregulated by the Management Regulation of Information Disclosure onChange of Shareholding for Listed Companies.
urities (Hong Kong)Explanation on shareholders involving margin
business (if applicable)
N/AWhether the top ten shareholders or top ten shareholders with unrestricted shares carried out buy back deals in the report period
□Yes √ NoThere were no buy back deals carried out by the top ten shareholders or top ten shareholders with unrestricted shares held in thereport period.
2. Total number of preference shareholders and particulars about the shareholdings of the top tenpreference shareholders
□Applicable √ Not applicable
Section III. Important events
I. Particulars and explanations about significant changes in main accounting statements andfinancial indices
√Applicable □Not applicableUnit: RMB
Item of balance sheet Note 30 September 2018 31 December 2017
Increased/Decreased
amount
RateOther current assets (1)
121,620,340
| 121,620,340 | 200,847,989 |
(79,227,649)-39%Construction in progress (2)
| 2,024,910,115 | 1,417,624,618 | 607,285,497 |
43%Long-term prepaid expenses (3)
| 13,171,381 | 2,223,397 | 10,947,984 |
492%Deferred tax assets (4)
| 119,434,919 | 80,872,862 | 38,562,057 |
48%Other non-current assets (5)
| 85,471,681 | 51,941,352 | 33,530,329 |
65%Long term borrowings (6)
| 2,349,500,000 | 1,554,120,000 | 795,380,000 |
51%Long-term payables (7)
| 683,574,458 | 1,161,794,247 |
(478,219,789)-41%Special reserves (8)
| 4,508,765 | 3,224,938 | 1,283,827 |
40%Other comprehensive income (9)
| 5,104,057 | 1,948,943 | 3,155,114 |
162%
Item of income statement Note
From January toSeptember 2018
From January toSeptember 2017
Increased/Decreased
amount
Rate
dministrative expenses (10)
| A | 523,550,697 | 347,183,080 | 176,367,617 |
51%
losses (11)
| Asset impairment | 5,545,468 | 2,971,645 | 2,573,823 |
87%Other income (12)
| 54,760,584 | 25,096,345 | 29,664,239 |
118%Investment income (13) -
| 427,638 |
(427,638)-100%Income from asset disposal (14) (455,305)
| 243,956 |
(699,261)-287%
-operating income (15)
| Non | 8,221,388 | 63,678,488 |
(55,457,100)-87%Income tax expense (16)
| 89,021,326 | 139,912,194 |
(50,890,868)-36%
shareholders of the parentcompany
(17)
| Net profit attributable to | 469,116,338 | 711,011,371 |
(241,895,033)-34%shareholders' gains and losses (18)
| 16,781,444 | 10,810,974 | 5,970,470 |
55%Other comprehensive income (19)
(1,946,922)
| 3,155,114 | 5,102,036 |
-Note:
(1) The decrease in other current assets was mainly due to the fact that some subsidiaries received government refunds of VAT.(2) The increase in construction in progress was mainly due to the transfer of fixed assets of some subsidiaries to construction inprogress.(3) The increase in long-term deferred expenses is mainly due to the amortization of land lease payments.
(4) The increase in deferred income tax assets was mainly due to the increase in share-based payment and tax losses.(5) The increase in other non-current assets was mainly due to the increase in prepaid engineering equipment.(6) The increase in long-term borrowings was mainly due to the new issue of medium-term notes in the current period.(7) The decrease in long-term payables was mainly due to the repayment of financial lease payments in the current period.(8) The increase in special reserves was mainly due to increased investment in safety production.(9) The increase in other comprehensive income was mainly due to the change in the translation difference of foreign currencystatements.(10) The increase in administrative expenses was mainly due to the amortization of restricted stock expenses.(11) The increase in asset impairment losses was mainly due to the increase in accounts receivable and the lower balance of theprevious period.(12) The increase in other income was mainly due to the reclassification of non-operating income as required by accountingstandards.(13) The decrease in investment income was mainly due to the fact that there was no occurrence in the current period and the amountincurred in the previous year was small.(14) The decrease in income from asset disposal was mainly due to disposal of non-current assets loss.(15) The decrease in non-operating income was mainly due to the reclassification of non-operating income as required by accountingstandards and a decrease in current period.(16) The decrease in income tax expenses was mainly due to the decrease in income tax expenses of some subsidiaries.(17) The decrease in net profit attributable to shareholders of the parent company was mainly due to the impact of “5.31 New Policy”and the decline in profitability of some subsidiaries.(18) The increase in minority shareholders' gains and losses was mainly due to the increase in net profit of some subsidiaries withminority shareholders.(19) The increase in other comprehensive income was mainly due to the change in the translation difference of foreign currencystatements.
II. The progress of material events and the impact as well as the analysis of solutions
√Applicable □ Not applicable1. Short-term Financing BillsOn Dec.14, 2016, the second extraordinary shareholders’ general meeting of 2016 of CSG deliberated and approved the proposal ofthe offering and registration of short-term financing bills, and agreed the Company’s registration and issuance of short-term financingbills with a total amount of RMB 2.7 billion, which could be issued by stages within period of validity of the registration according tothe Company’s actual demands for funds and the status of inter-bank funds. However, the term of each issue shall not be longer thanone year and the registered quota shall not exceed 40 percent of the Company’s net assets.
2. Ultra-short-term financing billsOn 14 May 2018, the 2017 Annual General Meeting of Shareholders’ deliberated and approved the proposal of application forregistration and issuance of ultra-short-term financing bills with registered capital of RMB 4 billion at most and validity within 2years (This amount is not subject to a 40% net asset limit) which could be issued by stages within period of validity of theregistration according to the Company’s actual demands for funds and the status of inter-bank funds. On September 17, 2018,National Association of Financial Market Institutional Investors (NAFMII) held the 63
rd
registration meeting of 2018, in whichNAFMII decided to accept the registration of the Company’s ultra-short-term financing bills, amounting to RMB 1.5 billion and
valid for two years. China Minsheng Banking Corporation Limited and Industrial Bank Co., Ltd. were joint lead underwriters ofthese medium term notes which could be issued by stages within period of validity of the registration.For details, please refer to www.chinabond.com.cn and www.chinamoney.com.cn.
3. Perpetual bondsOn April 15, 2016, the Shareholders’ General Meeting 2015 of CSG deliberated and approved the proposal of application forregistration and issuance of perpetual bonds, and agreed the Company to register and issue perpetual bonds with total amount ofRMB 3.1 billion which could be issued by stages within period of validity of the registration according to the Company’s actualdemand for funds and the capital status of inter-bank market.
4. Medium-term notesOn December 10, 2014, the First Extraordinary Shareholders’ General Meeting 2014 of CSG Holding Co., Ltd deliberated andapproved the proposal of application for registeration and issuance of medium term notes with total amount of RMB 1.2 billion atmost. On May 21, 2015, National Association of Financial Market Institutional Investors (NAFMII) held the 32nd registrationmeeting of 2015, in which NAFMII decided to accept the registration of the Company’s medium-term notes, amounting to RMB 1.2billion and valid for two years. China Merchants Bank Co., Ltd. and Shanghai Pudong Development Bank Co., Ltd. were joint leadunderwriters of these medium-term notes which could be issued by stages within period of validity of the registration. On July 10,2015, the Company issued the first batch of medium term notes with total amount of RMB 1.2 billion and valid term of 5 years at theissuance rate of 4.94%, which will be redeemed on July 14, 2020.On April 15, 2016, the Shareholders’ General Meeting of 2015 of CSG deliberated and approved the proposal of application forregistration and issuance of medium term notes with total amount of RMB 0.8 billion, which could be issued by stages within periodof validity of the registration according to the Company’s actual demands for funds and the status of inter-bank funds. On March 2,2018, National Association of Financial Market Institutional Investors (NAFMII) held the 14
th
registration meeting of 2018, in whichNAFMII decided to accept the registration of the Company’s medium term notes, amounting to RMB 0.8 billion and valid for twoyears. Shanghai Pudong Development Bank Co., Ltd. and China CITIC Bank Corporation Limited were joint lead underwriters ofthese medium term notes which could be issued by stages within period of validity of the registration. On May 4, 2018, the Companyissued the first batch of medium-term notes with total amount of RMB 0.8 billion and valid term of 3 years at the issuance rate of 7%,which will be redeemed on May 4, 2021.On May 22, 2017, the Shareholders’ General Meeting of 2016 of CSG deliberated and approved the proposal of application forregistration and issuance of medium term notes with total amount of RMB 1 billion, which could be issued by stages within period ofvalidity of the registration according to the Company’s actual demands for funds and the status of inter-bank funds.For details, please refer to www.chinabond.com.cn and www.chinamoney.com.cn.
5. Implementation of the Company’s stock incentive planOn Oct. 10, 2017, the third meeting of the Company's eighth session of the board of directors deliberated and approved 2017 A-shareRestricted Stock Incentive Plan (Draft) of CSG and its abstract, the Implementation Evaluation and Management Measures of 2017A-share Restricted Stock Incentive Plan (Draft) of CSG and the Proposal to Apply for the Shareholders’ Meeting to Authorize theBoard of Directors to Handle the Issues Related to 2017 A-share Restricted Stock Incentive Plan. For the above-mentioned contents,please refer to the Decision Bulletin of the Third Meeting of the Eighth Session of the Board of Directors (Notice No. 2017-063)published in www.cninfo.com.cn on Oct. 11, 2017. The independent directors of the company have issued independent opinions onthe issues related to the company's 2017 restricted A-share incentive plan.
On Oct. 26, 2017, 2017 fifth temporary shareholders’ meeting of the company convened the above three resolutions. On Dec. 11,2017, the 21
st
temporary meeting of the eighth session of the board of directors deliberated and approved the Resolution on Adjusting
the Granting List and Quantity of Targets of 2017 A-share Restricted Stock Incentive Plan. It is determined that 454 staff will begranted with 97,511,654 restricted shares on Dec. 11, 2017. The first award price is RMB 4.28 /share and 17,046,869 restrictedshares will be reserved.The granted shares were registered at the China Registration and Clearing Corporation Shenzhen Branch andwere listed on December 25, 2017. For detailed contents, refer to the Announcement on Completion of the Granting of 2017Restricted A-shares (Notice No.: 2017-079) published on Juchao Information Network (www.cninfo.com.cn) on Dec. 22, 2017.On July 20, 2018, the Company held the extraordinary meeting of the eighth board of directors and extraordinary meeting of the eighthboard of supervisors, and reviewed and approved the “Proposal on Repurchase and Restricting Partially Restricted Stocks ofRestricted Stock Incentive Plan”, on which the independent director of the Company issued consent opinions and V&T (Shenzhen)Law Firm issued the corresponding legal opinions. And the Proposal was approved by the Second Extraordinary Shareholders’ GeneralMeeting 2018 on August 6, 2018. As of September 10, 2018, the Company had completed the cancellation procedures for theabove-mentioned restricted stocks at China Securities Depository and Clearing Co., Ltd. Shenzhen Branch. The total number of sharesof the Company was changed from 2,856,769,678 shares to 2,853,450,621 shares. For details, please refer to the Announcement on theCompletion of Partial Restricted Stock Repurchase and Cancellation (Notice No.: 2018-052) published on Juchao InformationNetwork (www.cninfo.com.cn) on September 11, 2018.On September 13, 2018, the Company held the extraordinary meeting of the eighth board of directors and extraordinary meeting of theeighth board of supervisors, and reviewed and approved the “Proposal on granting reserved restricted stock for incentive objects forthe 2017 Restricted Stock Incentive Plan”. According to the relevant provisions of “2017 A-share Restricted Stock Incentive Plan(Draft) of CSG” (hereinafter referred to as “Incentive Plan”) and the authorization of the Fifth Extraordinary Shareholders’ GeneralMeeting 2017, proposed by the Remuneration and Appraisal Committee of The Board of Directors, The Board of Directors of theCompany considered that the conditions for granting reserved stocks under the Incentive Plan had been fulfilled, and agreed to grantreserved restricted incentive stocks to the incentive objects on September 13, 2018, and granted a total of 9,826,580 reserved restrictedstocks to 75 incentive targets at a price of RMB 3.68 per share. As the Company implemented the 2017 profit distribution plan, thenumber of reserved stocks and the price of the reserved shares have been adjusted according to the relevant provisions of the IncentivePlan and the authorization of the Fifth Extraordinary Shareholders’ General Meeting 2017. The granted shares were registered at theChina Registration and Clearing Corporation Shenzhen Branch and were listed on September 28, 2018. For details, please refer to theAnnouncement on the Completion of the Reserved Restricted Stocks Grant (Notice No.:2018-056) published on Juchao InformationNetwork (www.cninfo.com.cn) on September 26, 2018.According to the relevant provisions of the Accounting Standards for Enterprises, the implementation of restricted shares will havecertain impacts on the financial situation and operating results of the company in the coming years. The results will be based on theannual audit report issued by the accounting firm.
III. Commitments made by the actual controller, the shareholders, the related parties, thepurchasers and the Company which failed to be fulfilled in time during the report period
□ Applicable √Not applicableThere were no commitments made by the actual controller, the shareholders, the related parties, the purchasers or the Companywhich failed to be fulfilled in time during the report period.
IV. Prediction of business performance of 2018
Alert of loss or significant change in accumulative net profit from the beginning of year to the end of the next report period orcompared with the same period of last year, and statement of causations.□ Applicable √Not applicable
V. Securities investment
□ Applicable √Not applicableThe Company had no securities investment in the report period.
VI. Entrusted financial management
√Applicable □ Not applicable
Unit: RMB 0,000Specific type Source Amount Unexpired balance
Overdue amount not
recoveredBank financing product Own funds 5,000
Brokerage financing product Own funds 20,000
Total 25,000
Specific circumstances of high-risk entrusted financial management with significant or low security, poor liquidity and no capitalguarantee for a single item□ Applicable √Not applicableEntrusted financial management which is expected to be unable to recover the principal or other circumstances that may result inimpairment□ Applicable √Not applicable
VII. Derivatives investment
□ Applicable √Not applicableThe Company had no derivatives investment in the report period.
VIII. Reception of research, communication and interview in the report period
□ Applicable √Not applicableThe Company had no reception of research, communication or interview in the report period.
IX. Illegal external guarantee
□ Applicable √Not applicableThe Company had no illegal external guarantee in the report period.
X. Particulars about non-operating fund of listed company which is occupied by controllingshareholder and its affiliated enterprises
□ Applicable √Not applicableIn the report period, it did not exist that non-operating fund of listed company was occupied by controlling shareholder or itsaffiliated enterprises.
Section IV. Financial Report
(I) Financial Statements
1. Consolidated Balance Sheet
Prepared by CSG Holding Co., Ltd.
September 30, 2018
Unit: RMBItem Ending balance Beginning balanceCurrent asset:
Monetary capital 3,013,212,893.00
2,462,605,764.00
Settlement provision
Outgoing call loan
Financial assets measured at fair value through
profit or loss
Derivative financial assets
Notes receivable and accounts receivable 1,395,477,632.00
1,190,470,710.00
Including: Notes receivable 597,349,654.00
552,232,420.00
Accounts receivable 798,127,978.00
638,238,290.00
Prepayments 102,298,392.00
143,848,023.00
Premium receivable
Accounts receivable reinsurance
Receivable contract reserve
Other receivables 207,938,069.00
205,939,019.00
Buy back resale financial assets
Inventories 613,927,485.00
685,895,317.00
Holding assets for sale 45,983,520.00
45,983,520.00
Non-current assets due within one year
Other current assets 121,620,340.00
200,847,989.00
Total current assets 5,500,458,331.00
4,935,590,342.00
Non-current assets:
Loans and advances
Available for sale financial assets
Held to maturity investments
Long-term receivables
Long-term equity investment
Investment real estate
Fixed assets 10,590,180,745.00
11,540,769,697.00
Construction in progress 2,024,910,115.00
1,417,624,618.00
Productive biological assets
Oil and gas assets
Intangible assets 1,039,018,260.00
1,047,222,407.00
Development expenditure 76,894,900.00
61,365,537.00
Goodwill 397,392,156.00
397,392,156.00
Long-term prepaid expenses 13,171,381.00
2,223,397.00
Deferred tax assets 119,434,919.00
80,872,862.00
Other non-current assets 85,471,681.00
51,941,352.00
Total non-current assets 14,346,474,157.00
14,599,412,026.00
Total assets 19,846,932,488.00
19,535,002,368.00
Current liabilities:
Short-term loan 3,484,502,199.00
3,704,630,909.00
Borrowing from the central bank
Deposits and interbank deposits
Loans from other banks
Financial liabilities measured at fair value
through profit or loss
Derivative financial liabilities
Notes payable and accounts payable 1,311,010,816.00
1,613,567,664.00
Advance payment 216,748,063.00
195,563,465.00
Selling repurchased financial assets
Fees and commissions
Payroll payable 195,672,839.00
272,170,660.00
Taxes payable 113,460,360.00
111,996,764.00
Other payables 676,738,481.00
653,357,094.00
Accounts payable reinsurance
Insurance contract reserve
Agent trading securities
Agency underwriting securities
Holding liabilities for sale
Non-current liabilities due within one year 948,770,496.00
904,261,397.00
Other current liabilities 300,000.00
300,000.00
Total current liabilities 6,947,203,254.00
7,455,847,953.00
Non-current liabilities:
Long term borrowing 2,349,500,000.00
1,554,120,000.00
Bonds payable
Including: Preferred stock
Perpetual bonds
Long-term payables 683,574,458.00
1,161,794,247.00
Long-term payroll pay
Estimated liabilities
Deferred income 546,036,956.00
562,701,103.00
Deferred income tax liabilities 24,036,532.00
20,915,954.00
Other non-current liabilities
Total non-current liabilities 3,603,147,946.00
3,299,531,304.00
Total Liabilities 10,550,351,200.00
10,755,379,257.00
Owners' equity:
Share capital 2,863,277,201.00
2,484,147,547.00
Other equity instruments
Including: Preferred stock
Perpetual bonds
Capital reserve 1,094,514,512.00
1,306,381,765.00
Less: Treasury shares 436,427,756.00
417,349,879.00
Other comprehensive income 5,104,057.00
1,948,943.00
Special reserves 4,508,765.00
3,224,938.00
Surplus reserve 920,592,332.00
920,592,332.00
General risk preparation
Undistributed profit 4,504,695,495.00
4,159,642,227.00
Total owner's equity attributable to the parentcompany
8,956,264,606.00
8,458,587,873.00
Minority shareholders' equity 340,316,682.00
321,035,238.00
Total owner's equity 9,296,581,288.00
8,779,623,111.00
Total Liabilities and Owner's Equity 19,846,932,488.00
19,535,002,368.00
Legal representative: Chen Lin Principal in charge of accounting: Wang Jian Head of accounting department: Wang Wenxin
2. Balance Sheet of the Parent Company
Unit: RMBItem Ending balance Beginning balanceCurrent asset:
Monetary capital 2,267,895,375.00
1,681,877,320.00
Financial assets measured at fair value
profit or loss
through
Derivative financial assets
Notes receivable and accounts receivable
Including: Notes receivable
Accounts receivable
Prepayments 750,005.00
146,132.00
Other receivables 2,797,681,917.00
2,400,334,816.00
Inventories
Holding assets for sale
Non-current assets due within one year
Other current assets
Total current assets 5,066,327,297.00
4,082,358,268.00
Non-current assets:
Available for sale financial assets
Held to maturity investments
Long-term receivables 1,248,954,319.00
1,200,000,000.00
Long-term equity investment 4,937,807,541.00
4,795,987,652.00
Investment real estate
Fixed assets 19,626,339.00
22,182,246.00
Construction in progress 2,261,607.00
Productive biological assets
Oil and gas assets
Intangible assets 1,171,938.00
1,742,109.00
Development expenditure
Goodwill
Long-term prepaid expenses
Deferred tax assets
Other non-current assets 732,038.00
2,132,041.00
Total non-current assets 6,210,553,782.00
6,022,044,048.00
Total assets 11,276,881,079.00
10,104,402,316.00
Current liabilities:
Short-term loan 2,567,500,000.00
2,600,000,000.00
Financial liabilities measured at fair
through profit or loss
| value | ||||
Derivative financial liabilities
Notes payable and accounts payable 261,024.00
261,024.00
Advance payment
Payroll payable 23,933,210.00
40,856,313.00
Taxes payable 1,407,814.00
1,762,580.00
Other payables 1,227,290,586.00
912,523,726.00
Holding liabilities for sale
Non-current liabilities due within one year 180,000,000.00
180,000,000.00
Other current liabilities
Total current liabilities 4,000,392,634.00
3,735,403,643.00
Non-current liabilities:
Long term borrowing 2,000,000,000.00
1,200,000,000.00
Bonds payable
Including: Preferred stock
Perpetual bonds
Long-term payables
Long-term payroll pay
Estimated liabilities
Deferred income 185,113,460.00
186,526,280.00
Deferred income tax liabilities
Other non-current liabilities
Total non-current liabilities 2,185,113,460.00
1,386,526,280.00
Total Liabilities 6,185,506,094.00
5,121,929,923.00
Owners' equity:
Share capital 2,863,277,201.00
2,484,147,547.00
Other equity instruments
Including: Preferred stock
Perpetual bonds
Capital reserve 1,239,341,826.00
1,451,209,079.00
Less: Treasury shares 436,427,756.00
417,349,879.00
Other comprehensive income
Special reserves
Surplus reserve 935,137,692.00
935,137,692.00
Undistributed profit 490,046,022.00
529,327,954.00
Total owner's equity 5,091,374,985.00
4,982,472,393.00
Total Liabilities and Owner's Equity 11,276,881,079.00
10,104,402,316.00
3. Consolidated Income Statement
Unit: RMBItem Balance of this period Balance of last periodI. Total operating income 2,680,693,459.00
2,846,570,536.00
Including: operating income 2,680,693,459.00
2,846,570,536.00
Interest income
Earned premium
Fee and commission income
II. Total operating costs 2,563,636,781.00
2,513,603,071.00
Including: Operating costs 2,092,944,976.00
2,091,578,265.00
Interest expense
Fee and commission expenses
Withdrawal
Net loss of expenditure
Withdrawal of insurance contract reserve net
dividend payment policy
Reinsurance costs
Taxes and surcharges 35,812,891.00
31,903,226.00
sales expense 90,526,141.00
87,244,775.00
Management costs 168,654,876.00
115,556,825.00
R&D expenses 86,247,328.00
94,462,168.00
Financial expenses 87,558,710.00
90,994,862.00
Including: interest expense 109,819,290.00
86,770,411.00
Interest income 23,542,159.00
2,340,671.00
Asset impairment loss 1,891,859.00
1,862,950.00
Plus: other income 32,285,163.00
785,044.00
Investment income (“-“ for loss)
427,638.00
Including:
ventures and joint ventures
| investment income from joint | ||||
Gains from changes in fair value (“-“ for loss)
Exchange gains (“-“ for loss)
Asset disposal income (“-“ for loss) 112,525.00
315,712.00
III. Operating profit (“-“ for loss) 149,454,366.00
334,495,859.00
Plus: non-operating income 5,625,593.00
47,706,626.00
Less: non-operating expenses 614,072.00
1,135,015.00
IV. Gross profit (“-“ for loss) 154,465,887.00
381,067,470.00
Less: Income tax expenses 27,650,222.00
59,459,173.00
V. Net profit (“-“ for net loss) 126,815,665.00
321,608,297.00
(I) Net profit from continuing operations (“-“ for
net loss)
126,815,665.00
321,608,297.00
(II) Termination of operating net profit (“-“ for
net loss)
Net profit attributable to the owners of parent
company
116,279,185.00
318,019,208.00
Minor shareholders’ equity 10,536,480.00
3,589,089.00
VI. Net amount of other gains after tax 2,463,096.00
-870,658.00
Net amount of other gains after tax attributable to
owners of parent company
2,463,096.00
-870,658.00
(I) Other comprehensive income that will not
be reclassified into gains/losses
1. Re-measure the change in the defined
benefit plan
2. Other comprehensive income that
cannot be transferred to profit or loss under the equitymethod
(II) Other comprehensive income that will be
reclassified into profit or loss
2,463,096.00
-870,658.00
1. Other comprehensive income of
convertible profits and losses under the equity method
2. Gains and losses from changes in fair
value of available-for-sale financial assets
3. Held-to-maturity investments are
reclassified as gains and losses on available-for-salefinancial assets
4. Effective portion of cash flow hedge
gains and losses
5. Foreign currency financial statement
translation difference
2,463,096.00
-870,658.00
6. Other
Net after-tax net of other comprehensive income
attributable to minority shareholders
VII. Total of misc. incomes 129,278,761.00
320,737,639.00
Total of misc. incomes attributable to the owners
of the parent company
118,742,281.00
317,148,550.00
Total misc gains attributable to the minor
shareholders
10,536,480.00
3,589,089.00
VIII. Earnings per share:
(I) Basic earnings per share 0.04
0.12
(II) Diluted earnings per share 0.04
0.12
Legal representative: Chen Lin Principal in charge of accounting: Wang Jian Head of accounting department: Wang Wenxin
4. Income Statement of the Parent Company
Unit: RMBItem Balance of this period Balance of last periodI. Operating income 14,147,677.00
15,038,839.00
Less: Operating costs 0.00
0.00
Taxes and surcharges 144,784.00
131,076.00
sales expense
Management costs 39,974,380.00
21,688,231.00
R&D expenses 944,937.00
944,938.00
Financial expenses 23,855,339.00
20,017,263.00
Including: interest expense 45,996,709.00
22,923,308.00
Interest income 21,853,898.00
1,982,408.00
Asset impairment loss 54,340.00
78,215.00
Plus: other income 470,940.00
Investment income (“-“ for loss)
2,011,500.00
Including: investment income
joint ventures
from joint ventures and
Gains from changes in fair value (“-“ for loss)
Asset disposal income (“-“ for loss)
II. Operating profit (“-“ for loss) -50,355,163.00
-25,809,384.00
Plus: non-operating income 10,556.00
402,190.00
Less: non-operating expenses 242,988.00
816,000.00
III. Gross profit (“-“ for loss) -50,587,595.00
-26,223,194.00
Less: Income tax expenses 599,358.00
IV.Net profit (“-“ for net loss) -51,186,953.00
-26,223,194.00
(I) Net profit from continuing operations (“-
net loss)
-51,186,953.00
| “ for | ||
-26,223,194.00
(II) Termination of operating net profit (“-
“ for
net loss)
| “ for | ||||
V. Net amount of other gains after tax
be reclassified into gains/losses
(I) Other comprehensive income that will not
1. Re-
benefit plan
| measure the change in the defined | ||||
2. Other comprehensive income thatcannot be transferred to profit or loss under the equity
method
| cannot be transferred to profit or loss under the equity | ||
(II
reclassified into profit or loss
| ) Other comprehensive income that will be | ||||
convertible profits and losses under the equity method
1. Other comprehensive income of
2.
value of available-for-sale financial assets
Gains and losses from changes in fair
3. Held-to-
reclassified as gains and losses on available-for-
maturity investments aresale
financial assets
| sale | ||
4.
gains and losses
| Effective portion of cash flow hedge | ||||
translation difference
| . Foreign currency financial statement | ||||
6. Other
VI. Total of misc. incomes -51,186,953.00
-26,223,194.00
VII. Earnings per share:
(I) Basic earnings per share
(II) Diluted earnings per share
5. Consolidated income statement for Jan.-Sept. 2018
Unit: RMBItem Balance of this period Balance of last periodI. Total revenue 8,151,251,436.00
7,790,271,330.00
Including: Business income 8,151,251,436.00
7,790,271,330.00
Interest income
Insurance fee earned
Fee and commission received
II. Total business cost 7,637,366,372.00
7,016,245,101.00
Including: Business cost 6,192,441,730.00
5,829,092,727.00
Interest expense
Fee and commission paid
Insurance discharge payment
Net claim amount paid
Net insurance policy reserves provided
Insurance policy dividend paid
Reinsurance expenses
Tax and surcharges 107,743,437.00
93,649,001.00
Sales expense 262,743,395.00
243,589,506.00
Administrative expense 523,550,697.00
347,183,080.00
R&D expenses 271,905,509.00
265,390,253.00
Financial expenses 273,436,136.00
234,368,889.00
Including: Interest expense 313,350,797.00
229,964,998.00
Interest income 46,575,577.00
6,527,384.00
Asset impairment loss 5,545,468.00
2,971,645.00
Plus: other income 54,760,584.00
25,096,345.00
Investment income(“-“ for loss)
427,638.00
Including: Investment income in associates
and joint ventures
Fair value change income(“-“ for loss)
Exchange gains (“-“ for loss)
Asset disposal income (“-“ for loss) -455,305.00
243,956.00
III. Operating profit (“-“ for loss) 568,190,343.00
799,794,168.00
Plus: non-operating income 8,221,388.00
63,678,488.00
Less: non-operating expenses 1,492,623.00
1,738,117.00
IV. Gross profit (“-“ for loss) 574,919,108.00
861,734,539.00
Less: Income tax expenses 89,021,326.00
139,912,194.00
V. Net profit (“-“ for net loss) 485,897,782.00
721,822,345.00
(I) Net profit from continuing operations (“-“ for
net loss)
485,897,782.00
721,822,345.00
(II) Termination of operating net profit (“-“ for
net loss)
Net profit attributable to the owners of parentcompany
469,116,338.00
711,011,371.00
Minor shareholders’ equity 16,781,444.00
10,810,974.00
VI. Net amount of other comprehensive income aftertax
3,155,114.00
-1,946,922.00
Net amount of other gains after tax attributable to
owners of parent company
3,155,114.00
-1,946,922.00
be reclassified into gains/losses
| (I) Other comprehensive income that will not | ||||
1. Re-
benefit plan
| measure the change in the defined | ||||
cannot be transferred to
2. Other comprehensive income thatprofit or loss under the equity
method
| profit or loss under the equity | ||
(II
reclassified into profit or loss
3,155,114.00
) Other comprehensive income that will be
-1,946,922.00
convertible profits and losses under the equity method
1. Other comprehensive income of
2.
value of available-for-sale financial assets
| Gains and losses from changes in fair | ||||
3. Held-to-
reclassified as gains and losses on available-for-
maturity investments aresale
financial assets
| sale | ||
4.
| Effective portion of cash flow hedge | ||
gains and losses
translation difference
3,155,114.00
| . Foreign currency financial statement | ||
-1,946,922.00
6. Other
Net after-tax net of other comprehensive income
attributable to minority shareholders
VII. Total of comprehensive income 489,052,896.00
719,875,423.00
Total of misc. incomes attributable to the ownersof the parent company
472,271,452.00
709,064,449.00
Total misc gains attributable to the minorshareholders
16,781,444.00
10,810,974.00
VIII. Earnings per share:
(I) Basic earnings per share 0.17
0.26
(II) Diluted earnings per share 0.16
0.26
6. Income statement of the Parent Company for Jan.-Sept. 2018
Unit: RMBItem Balance of this period Balance of last periodI. Total revenue 44,248,959.00
41,704,845.00
Including: Business income 0.00
0.00
Tax and surcharges 391,249.00
5,268,020.00
Sales expense
Administrative expense 135,342,752.00
90,338,580.00
R&D expenses 2,839,736.00
2,834,813.00
Financial expenses 53,787,897.00
39,817,558.00
Including: Interest expense 94,678,140.00
45,104,805.00
Interest income 43,313,805.00
5,511,104.00
Asset impairment loss 8,222.00
85,921.00
Plus: other income 2,070,606.00
647,260.00
Investment income(“-“ for loss) 231,537,606.00
2,011,500.00
and joint ventures
| Including: Investment income in associates | ||||
Fair value change income(“-“ for loss)
Asset disposal income (“-“ for loss) 2,440.00
III. Operating profit (“-“ for loss) 85,489,755.00
-93,981,287.00
Plus: non-operating income 134,006.00
1,196,570.00
Less: non-operating expenses 243,265.00
816,000.00
IV. Gross profit (“-“ for loss) 85,380,496.00
-93,600,717.00
Less: Income tax expenses 599,358.00
V. Net profit (“-“ for net loss) 84,781,138.00
-93,600,717.00
(I) Net profit from continuing operations (“-
net loss)
84,781,138.00
| “ for | ||
-93,600,717.00
(II) Termination of operating net profit (“-
“ for
net loss)
“ for
tax
| VI. Net amount of other comprehensive income after | ||||
(I) Other
be reclassified into gains/losses
| comprehensive income that will not | ||||
1. Re-
benefit plan
measure the change in the defined
2. Other comprehensive income thatcannot be transferred to profit or loss under the equity
method
| cannot be transferred to profit or loss under the equity | ||
(II) Other
reclassified into profit or loss
| comprehensive income that will be | ||||
convertible profits and losses under the equity method
1. Other comprehensive income of
2.
value of available-for-sale financial assets
| Gains and losses from changes in fair | ||||
3. Held-to-
reclassified as gains and losses on available-for-
maturity investments aresale
financial assets
| sale | ||
4.
gains and losses
| Effective portion of cash flow hedge | ||||
translation difference
| . Foreign currency financial statement | ||||
6. Other
VII. Total of comprehensive income 84,781,138.00
-93,600,717.00
VIII. Earnings per share:
(I) Basic earnings per share
(II) Diluted earnings per share
7. Consolidated Cash Flow Statement for Jan.-Sept. 2018
Unit: RMBItem Balance of this period Balance of last periodI. Net cash flow from business operation
services
8,874,070,807.00
| Cash received from sales of products and providing of | ||
8,716,345,821.00
Net increase of customer deposits and capital kept forbrother company
Net increase of loans from central bank
Net increase of inter-bank loans from other financialbodies
Cash received against original insurance contract
Net cash received from reinsurance business
Net increase of client deposit and investment
Net increase of disposal of the financial assetsmeasured by fair value with the changes included inthe current gains and losses
Cash received as interest, processing fee, andcommission
Net increase of inter-bank fund received
Net increase of repurchasing business
Tax returned 81,506,819.00
13,944,024.00
Other cash received from business operation 114,952,740.00
118,888,381.00
Sub-total of cash inflow from business activities 9,070,530,366.00
8,849,178,226.00
Cash paid for purchasing of merchandise and services
5,549,504,979.00
5,170,500,238.00
Net increase of client trade and advance
Net increase of savings in central bank and brothercompany
Cash paid for original contract claim
Cash paid for interest, processing fee and commission
Cash paid for policy dividend
Cash paid to staffs or paid for staffs 1,020,862,956.00
903,582,623.00
Taxes paid 605,975,057.00
560,097,169.00
Other cash paid for business activities 483,361,352.00
412,345,504.00
Sub-total of cash outflow from business activities 7,659,704,344.00
7,046,525,534.00
Net cash flow generated by business operation 1,410,826,022.00
1,802,652,692.00
II. Cash flow generated by investingCash received from investment retrieving
Cash received as investment profit
Net cash retrieved from disposal of fixed assets,intangible assets, and other long-term assets
3,689,092.00
1,524,109.00
Net cash received from disposal of subsidiaries orother operational units
Other investment-related cash received 24,683,677.00
11,239,594.00
Sub-total of cash inflow due to investment activities 28,372,769.00
12,763,703.00
Cash paid for construction of fixed assets, intangibleassets and other long-term assets
462,402,032.00
1,059,799,002.00
Cash paid as investment
Net increase of loan against pledge
Net cash received from subsidiaries and otheroperational units
Other cash paid for investment activities 93,641,334.00
36,752,523.00
Sub-total of cash outflow due to investment activities
556,043,366.00
1,096,551,525.00
Net cash flow generated by investment -527,670,597.00
-1,083,787,822.00
III. Cash flow generated by financingCash received as investment 9,826,580.00
Incl. Cash received as investment from minorshareholders
Cash received as loans 3,871,266,495.00
3,013,919,750.00
Cash received from bond placing
Other financing-related cash received 46,330,808.00
3,179,276,494.00
Subtotal of cash inflow from financing activities 3,927,423,883.00
6,193,196,244.00
Cash to repay debts 3,255,750,000.00
3,824,757,768.00
Cash paid as dividend, profit, or interests 438,702,824.00
468,236,090.00
Incl. Dividend and profit paid by subsidiaries tominor shareholders
Other cash paid for financing activities 568,114,332.00
1,390,858,313.00
Subtotal of cash outflow due to financing activities 4,262,567,156.00
5,683,852,171.00
Net cash flow generated by financing -335,143,273.00
509,344,073.00
IV. Influence of exchange rate alternation on cash andcash equivalents
2,487,631.00
-1,130,269.00
V. Net increase of cash and cash equivalents 550,499,783.00
1,227,078,674.00
Plus: Balance of cash and cash equivalents at thebeginning of term
2,459,753,165.00
584,566,990.00
VI. Balance of cash and cash equivalents at the end ofterm
3,010,252,948.00
1,811,645,664.00
8. Cash Flow Statement of the Parent Company for Jan.-Sept. 2018
Unit: RMBItem Balance of this period Balance of last periodI. Net cash flow from business operationCash received from sales of products
services
| and providing of | ||||
Tax returned
Other cash received from business operation 45,225,208.00
12,093,227.00
Sub-total of cash inflow from business activities 45,225,208.00
12,093,227.00
Cash paid for purchasing of merchandise and services
Cash paid to staffs or paid for staffs 80,647,604.00
46,944,641.00
Taxes paid 2,520,750.00
6,646,035.00
Other cash paid for business activities 25,910,236.00
21,006,751.00
Sub-total of cash outflow from business activities 109,078,590.00
74,597,427.00
Net cash flow generated by business operation -63,853,382.00
-62,504,200.00
II. Cash flow generated by investingCash received from investment retrieving
Cash received as investment profit
2,011,500.00
Net cash retrieved from disposal of fixed assets,intangible assets, and other long-term assets
2,440.00
1,808.00
Net cash received from disposal of subsidiaries orother operational units
Other investment-related cash received
954,000.00
Sub-total of cash inflow due to investment activities 2,440.00
2,967,308.00
Cash paid for construction of fixed assets, intangibleassets and other long-term assets
5,604,540.00
1,680,804.00
Cash paid as investment 46,750,000.00
Net cash received from subsidiaries and otheroperational units
Other cash paid for investment activities
Sub-total of cash outflow due to investment activities
52,354,540.00
1,680,804.00
Net cash flow generated by investment -52,352,100.00
1,286,504.00
III. Cash flow generated by financingCash received as investment 9,826,580.00
Cash received as loans 2,917,500,000.00
2,100,693,638.00
Cash received from bond placing
Other financing-related cash received 124,357,949.00
2,411,868,907.00
Subtotal of cash inflow from financing activities 3,051,684,529.00
4,512,562,545.00
Cash to repay debts 2,150,000,000.00
3,396,723,365.00
Cash paid as dividend, profit, or interests 199,721,074.00
209,502,162.00
Other cash paid for financing activities
Subtotal of cash outflow due to financing activities 2,349,721,074.00
3,606,225,527.00
Net cash flow generated by financing 701,963,455.00
906,337,018.00
IV. Influence of exchange rate alternation on cash andcash equivalents
-1,245,875.00
681,240.00
V. Net increase of cash and cash equivalents 584,512,098.00
845,800,562.00
Plus: Balance of cash and cash equivalents at thebeginning of term
1,680,672,390.00
301,637,933.00
VI. Balance of cash and cash equivalents at the end ofterm
2,265,184,488.00
1,147,438,495.00
II .Auditor’s Report
Whether the third quarter report has been audited or not□Yes √NoThe third quarter report of the Company has not been audited.
Board of Directors ofCSG Holding Co., Ltd.30 October 2018