CSG HOLDING CO., LTD.
THE FIRST QUARTER REPORT 2019
Chairman of the Board:
CHEN LIN
April 2019
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 at the meeting of the Board for deliberating the First Quarter Report ofthe Company in person.Ms. Chen Lin, Chairman of the Board, Mr. Wang Jian, responsible person in charge of theaccounting and Ms. Wang Wenxin, principal of the financial department (accounting officer)confirm that the Financial Report enclosed in the First Quarter Report 2019 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 situation of the Company
I. Main accounting data and indices
Whether the company need to retroactively adjust or restate the previous year's accounting data or not
□Yes √ No
| The 1st quarter of 2019 | The 1st quarter of 2018 | Percentage of change (%) | |
| Operating income (RMB) | 2,222,721,514 | 2,629,471,994 | -15.47% |
| Net profit attributable to shareholders of the listed company(RMB) | 132,188,324 | 159,382,821 | -17.06% |
| Net profit attributable to shareholders of the listed company after deducting non-recurring gains and losses(RMB) | 82,573,767 | 152,948,714 | -46.01% |
| Net cash flow arising from operating activities(RMB) | 136,317,362 | 60,223,706 | 126.35% |
| Basic earnings per share (RMB/Share) | 0.05 | 0.06 | -16.67% |
| Diluted earnings per share (RMB/Share) | 0.05 | 0.06 | -16.67% |
| Weighted average ROE (%) | 1.44% | 1.86% | -0.42% |
| 31 March 2019 | 31 December 2018 | Percentage of change (%) | |
| Total assets (RMB) | 19,038,937,263 | 19,114,234,184 | -0.39% |
| Net assets attributable to shareholder of listed company(RMB) | 9,241,889,126 | 9,103,154,571 | 1.52% |
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 ) | 2,862,840,482 |
| Fully diluted earnings per share calculated with latest equity ( RMB/share ) | 0.05 |
Note: The total amount of 436,719 shares of restricted stocks held by 8 unqualified original incentives, which had been repurchasedbut not yet cancelled, were deducted from the total share capital.Items and amounts of extraordinary profit (gains)/losses√Applicable □ Not applicable
Unit: RMB
| Item | Amount from beginning of the year to the end of the report period | Note |
| Gains/losses from the disposal of non-current asset (including the write-off that accrued for impairment of assets) | 6,877,195 | |
| Governmental subsidy reckoned into current gains/losses (not including the subsidy enjoyed in quota or ration according to | 47,460,637 |
| national standards, which are closely relevant to enterprise’s business) | ||
| Loss and profit on external entrusted loan | 5,345,912 | |
| Other non-operating income and expenditure except for the aforementioned items | -736,384 | |
| Other gains/losses satisfied definition of extraordinary profit (gains)/loss | - | |
| Less: Impact on income tax | 8,049,219 | |
| Impact on minority shareholders’ equity (post-tax) | 1,283,584 | |
| Total | 49,614,557 | -- |
During the report period, the Company didn’t have the case of extraordinary profit (gains)/loss defined as a regular profit and lossproject, which was defined and enumerated according to the lists of extraordinary profit (gain)/loss in Q&A Announcement No.1 onInformation Disclosure for Companies Offering Their Securities to the Public --- Extraordinary Profit/loss.
II. Total of shareholders at the end of the report period and particulars about the shares heldby the top ten shareholders
1. The total number of common shareholders and the number of preference shareholders with voting rightsrecovered as well as the top ten shareholders
Unit: Share
| The total number of common shareholders at the end of the report period | 149,447 | The total number of preference shareholders with voting rights recovered at end of report period (if applicable) | N/A | |||||
| Particulars about the shares held by the top ten shareholders | ||||||||
| Name of shareholder | Nature of shareholder | Proportion of shares held (%) | Amount of shares held | Amount of restricted shares held | Number of share pledged/frozen | |||
| Share status | Amount | |||||||
| Foresea Life Insurance Co., Ltd. – Haili Niannian | Domestic non state-owned legal person | 14.81% | 423,988,067 | |||||
| Foresea Life Insurance Co., Ltd. – Universal Insurance Products | Domestic non state-owned legal person | 3.76% | 107,659,097 | |||||
| Shenzhen Jushenghua Co., Ltd. | Domestic non state-owned legal person | 2.75% | 78,757,679 | Pledged | 63,000,000 | |||
| Foresea Life Insurance Co., Ltd. – Own Fund | Domestic non state-owned legal person | 2.06% | 58,877,419 | |||||
| Central Huijin Asset Management Ltd. | State-owned legal person | 1.84% | 52,650,444 | |||||
| China Galaxy International Securities (Hong Kong) Co., Limited | Foreign legal person | 1.30% | 37,313,064 | |||||
| UBS AG | Foreign legal person | 1.14% | 32,607,190 | |||||
| China Merchants Securities (HK) Co., Limited | State-owned legal person | 1.03% | 29,604,239 | |||||||
| Shenzhen International Holdings (SZ) Limited | State-owned legal person | 0.92% | 26,450,000 | |||||||
| VANGUARD EMERGING MARKETS STOCK INDEX FUND | Foreign legal person | 0.61% | 17,563,848 | |||||||
| Particular about the top ten shareholders with un-restrict shares held | ||||||||||
| Shareholders’ name | Amount of unrestricted shares held at the end of the period | Type of shares | ||||||||
| Type | Amount | |||||||||
| Foresea Life Insurance Co., Ltd. – Haili Niannian | 423,988,067 | RMB ordinary shares | 423,988,067 | |||||||
| Foresea Life Insurance Co., Ltd. – Universal Insurance 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 | |||||||
| China Galaxy International Securities (Hong Kong) Co., Limited | 37,313,064 | Domestically listed foreign shares | 37,313,064 | |||||||
| UBS AG | 32,607,190 | RMB ordinary shares | 32,607,190 | |||||||
| China Merchants Securities (HK) Co., Limited | 29,604,239 | Domestically listed foreign shares | 29,604,239 | |||||||
| Shenzhen International Holdings (SZ) Limited | 26,450,000 | RMB ordinary shares | 26,450,000 | |||||||
| VANGUARD EMERGING MARKETS STOCK INDEX FUND | 17,563,848 | Domestically listed foreign shares | 17,563,848 | |||||||
| Statement on associated relationship or consistent action among the above shareholders: | Among shareholders as listed above, Foresea Life Insurance Co., Ltd.-Haili Niannian, Foresea Life Insurance Co., Ltd.-Universal Insurance Products, Foresea Life Insurance Co., Ltd.-Own Fund are all held by Foresea Life Insurance Co., Ltd. Shenzhen Jushenghua Co., Ltd. is a related legal person of Foresea Life Insurance Co., Ltd. and Chengtai Group Co., Ltd., another related legal person of Foresea Life Insurance Co., Ltd, which held 36,534,458 shares via China Galaxy International Securities (Hong Kong) Co., Limited. Except for the above-mentioned shareholders, it is unknown whether other shareholders belong to related party or have associated relationship regulated by the Management Regulation of Information Disclosure on Change of Shareholding for Listed Companies. | |||||||||
| Explanation on the top ten shareholders with un-restrict shares held which involving margin business (if applicable) | N/A | |||||||||
Whether the top ten common shareholders or the top ten common shareholders holding unrestricted shares had a buy-back agreementdealing in the report period or not
□ Yes √ NoThe top ten common shareholders or the top ten common shareholders holding unrestricted shares of the Company had no buy-backagreement dealing in the report period.
2. The total number of preferred shareholders of the company and particulars about the top ten preferredshareholders
□ Applicable √ Not applicable
Section III. Important events
I. Particulars and explanations about significant changes in main accounting statements andfinancial indices
√Applicable □ Not applicable
Unit: RMB 0,000
| Note | 31 March 2019 | 31 December 2018 | Amount of change | Percentage of change | |
| Accounts receivable | (1) | 92,781 | 59,223 | 33,558 | 57% |
| Assets held for sale | (2) | - | 4,598 | -4,598 | -100% |
| Other current assets | (3) | 13,756 | 44,533 | -30,777 | -69% |
| Bills payable | (4) | 27,500 | 10,515 | 16,985 | 162% |
| Payroll payable | (5) | 12,525 | 26,646 | -14,121 | -53% |
| Interest payable | (6) | 10,066 | 7,361 | 2,705 | 37% |
| Note | Jan.-Mar.2019 | Jan.-Mar.2018 | Amount of change | Percentage of change |
| Asset impairment loss | (7) | 682 | 463 | 219 | 47% |
| Income from asset disposal | (8) | 688 | -102 | 790 | - |
| Other income | (9) | 4,746 | 758 | 3,988 | 526% |
| Non-operating income | (10) | 69 | 220 | -151 | -69% |
| Non-operating expenses | (11) | 142 | 86 | 56 | 65% |
| Minority shareholder gains and losses | (12) | 375 | -36 | 411 | - |
| Other comprehensive income | (13) | -122 | -203 | 81 | - |
Note:
(1) The increase in accounts receivable was mainly due to the increase in accounts receivable of the glass industry.(2) The decrease in assets held for sale was mainly due to the disposal of assets held for sale.(3) The decrease in other current assets was mainly due to the recovery of entrusted loans during the period.(4) The increase in bills payable was mainly due to the increase in new bills issued during the period.
(5) The decrease in payroll payables was mainly due to the payment of the employee's year-end bonus accrued at the end of lastyear was paid during the report period.(6) The increase in interest payable was mainly due to the fact that interest payment for medium-term notes had not been paid in theperiod for they were not due yet.(7) The increase in asset impairment losses was mainly due to the increase in provision for bad debts of accounts receivable.(8) The increase in income from asset disposal was mainly due to the disposal of assets held for sale during the period.(9) The increase in other income was mainly due to the increase in amortization of government subsidies.(10) The decrease in non-operating income was mainly due to a slight decrease in government grants during the period.(11) The increase in non-operating expenses was mainly due to the increase in donation expenses.(12) The increase in minority shareholders' gains and losses was mainly due to the increase in net profit of some subsidiaries with
minority shareholders.(13) The increase in other comprehensive income was mainly due to the change in the translation difference of foreign currencystatements.
II. The progress and the impact of material events and analysis on the 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 May 14, 2018, the Company’s 2017 annual shareholders’ meeting deliberated and approved the resolution on the application forregistration and issuance of ultra-short-term financing bills, which agreed that the Company should register and issue ultra-short-termfinancing bills with a registered amount not exceeding 4 billion yuan (not subject to the restriction that the amount of ultra-short-ermissued shall not exceed 40% of net assets). With the period of validity of the quota not longer than two years, such ultra-short-termfinancing bills will be issued by installments in accordance with the actual capital needs of the Company and the situation ofinter-bank market funds. On Sep. 17, 2018, the Chinese Association of Interbank Market Traders held its 63rd registration meeting in2018, and decided to approve the registration of the ultra-short-term financing bills with a total amount of 1.5 billion yuan and avalidity period of two years. The ultra-short-term financing bills are underwritten jointly by Minsheng Bank of China Limited andIndustrial Bank Co., Ltd, and can be issued by installments within the validity period of registration.
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 a 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 10 December 2014, the First Extraordinary Shareholders’ General Meeting 2014 of CSG Holding Co., Ltd deliberated andapproved the proposal of application for registration and issuance of medium-term notes with a total amount of RMB 1.2 billion atmost. On 21 May 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 Jul.14, 2015,the Company issued the first phase of medium-term notes with a total amount of RMB 1.2 billion and valid term of 5 years at theissuance rate of 4.94%, which will be redeemed on 14 July 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 a total amount of RMB 0.8 billion, which could be issued by stages within
period of validity of the registration according to the Company’s actual demands for funds and the status of inter-bank funds. On 2March 2018, National Association of Financial Market Institutional Investors (NAFMII) held the 14
th
registration meeting of 2018, inwhich NAFMII decided to accept the registration of the Company’s medium-term notes, amounting to RMB 0.8 billion and valid fortwo years. Shanghai Pudong Development Bank Co., Ltd. and China CITIC Bank Corporation Limited were joint lead underwritersof these medium-term notes which could be issued by stages within period of validity of the registration. On May 4, 2018, theCompany issued the first phase of medium-term notes with a total amount of RMB 0.8 billion and valid term of three years at theissuance 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 a total amount of RMB 1 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.For details, please refer to www.chinabond.com.cn and www.chinamoney.com.cn.
5. Public issuance of corporate bondsOn March 2, 2017, the 2nd Extraordinary General Meeting of Shareholders of 2017 deliberated and approved “the Proposal on thePublic Issuance of Corporate Bonds for Qualified Investors". On February 27, 2019, the First Extraordinary General Meeting ofShareholders of 2019 deliberated and approved “the Proposal on Extending the Validity of the Shareholders' Meeting Resolution forthe Public Issuance of Corporate Bonds for Qualified Investors”, and agreed the Company to issue corporate bonds with a total issueof no more than RMB 2 billion and a term of no more than 10 years.
6. Meetings of Medium-term note holders during the report periodOn January 8, 2019, the Company released “the Announcement on Convening of 2015 First-phase of Medium-term Note Holders'Meeting of CSG Holding Co., Ltd.” and “the Announcement on Convening of 2018 First-phase of Medium-term Note Holders'Meeting of CSG Holding Co., Ltd.” due to the Company’s capital reduction for the repurchase and cancellation of some restrictedshares of the restricted equity incentive plan. On January 22, 2019, the Company's 2015 first-phase of medium-term note holders’meeting and 2018 first-phase of medium-term note holders’ meeting were held and voted off-site. The 2015 first-phase ofmedium-term note holders’ meeting and the 2018 first-phase of medium-term note holders’ meeting did not take effect as the totalvoting rights held by the holders attending the meeting did not reach two-thirds of the total voting rights as required.
7. Entrusted LoanOn December 21, 2018, the Extraordinary Meeting of the 8th Board of Directors deliberated and approved “the Proposal onProviding External Entrusted Loans”. The Company issued an entrusted loan with a total amount of RMB 0.3 billion to TengchongYuezhou Water Investment Development Co., Ltd. via China Everbright Bank shenzhen(Nanshan) branch. The valid term of theentrusted loan was 3 months and its annual interest rate was 8.5%. On March 22, 2019, the principal and income of theabove-mentioned entrusted loan was repaid as agreed in the contract.
Progress of implementation of share repurchase□Applicable √ Not applicableProgress of implementation of the reduction of the repurchased shares by means of centralized price bidding□Applicable √ Not applicable
III. Failure in due fulfillment of commitments of the actual controllers, shareholders, affiliates,and acquirers of listed company as well as the listed company during the report period
□Applicable √Not applicableIt did not exist that commitments of the actual controllers, shareholders, affiliates, and acquirers of listed company as well as thelisted company failed to be fulfilled on time during the report period.
IV. Predict of the business performance from January to June 2019
Warnings and reasons of the predict that the cumulative net profit from the begin of the year to the end of next report period may beloss or have great changes comparing with the same period of last year□Applicable √ Not applicable
V. Securities investment
□ Applicable √ Not applicableThere was no securities investment during the report period.
VI. Derivative investment
□ Applicable √ Not applicableThere was no derivative investment during the report period.
VII. Registration form for receiving research, communication and interview during the reportperiod
□ Applicable √ Not applicableThe Company did not receive any research, communication or interviews during the report period.
VIII. Particulars about illegal external guarantee
□ Applicable √Not applicableThe Company had no illegal external guarantee in the report period.
IX. Particulars about non-operating fund of listed company which is occupied by controllingshareholder and its affiliated enterprises
□ Applicable √ Not applicable
Section IV Financial Report
I. Financial Statements
1. Consolidated balance sheet
Prepared by CSG Holding Co., Ltd.
Unit: RMB
| Item | Ending balance | Beginning balance |
| Current asset: | ||
| Monetary Fund | 2,367,406,487 | 2,226,447,720 |
| Settlement provisions | ||
| Lendings to Banks and Other Financial Institutions | ||
| Transactional financial assets | ||
| Financial assets measured at fair value through profit or loss | ||
| Derivative financial assets | ||
| Notes receivable and accounts receivable | 1,446,468,814 | 1,311,608,760 |
| Incl.: Notes receivable | 518,658,477 | 719,375,448 |
| Accounts receivable | 927,810,337 | 592,233,312 |
| Prepayments | 102,966,630 | 91,176,675 |
| Premium receivable | ||
| Accounts receivable reinsurance | ||
| Reserve for reinsurance receivable contracts | ||
| Other receivables | 213,754,669 | 207,424,295 |
| Incl.: Interest receivable | ||
| Dividend receivable | ||
| Buying back the sale of financial assets | ||
| Stock | 753,404,127 | 600,139,750 |
| Contract assets | ||
| Assets held for sale | 45,983,520 | |
| Non-current assets due within one year | ||
| Other current assets | 137,555,392 | 445,327,449 |
| Total current assets | 5,021,556,119 | 4,928,108,169 |
| Non-current assets: | ||
| Loans and advances | ||
| Debt investment | ||
| Available for sale financial assets | ||
| Other debt investment | ||
| Held-to-maturity investment | ||
| Long-term receivables | ||
| Long-term equity investment | ||
| Investment in other equity instruments | ||
| Other non-current financial assets | ||
| Investment real estate | ||
| Fixed assets | 9,754,386,128 | 9,930,843,775 |
| Construction in progress | 2,578,710,963 | 2,559,179,442 |
| Productive biological assets | ||
| Oil and gas assets | ||
| Right of use assets | ||
| Intangible assets | 1,042,727,117 | 1,035,731,324 |
| Development expenditure | 63,358,454 | 74,549,257 |
| Goodwill | 376,720,156 | 376,720,156 |
| Long-term prepaid expenses | 12,278,598 | 12,746,609 |
| Deferred tax assets | 135,084,054 | 139,529,518 |
| Other non-current assets | 54,115,674 | 56,825,934 |
| Total non-current assets | 14,017,381,144 | 14,186,126,015 |
| Total assets | 19,038,937,263 | 19,114,234,184 |
| Current liabilities: | ||
| Short-term loan | 2,907,911,732 | 2,922,679,590 |
| Borrowing from the Central Bank | ||
| Loans from other banks | ||
| Transactional financial liabilities | ||
| Financial liabilities measured at fair value through profit or loss | ||
| Derivative financial liabilities | ||
| Notes payable and accounts payable | 1,407,340,246 | 1,315,009,263 |
| Advance payment | 193,978,924 | 206,631,008 |
| Financial Assets Sold for Repurchase | ||
| Absorbing deposits and interbank deposits | ||
| Acting trading securities | ||
| Acting underwriting securities | ||
| Payroll payable | 125,250,903 | 266,459,151 |
| Taxes payable | 99,658,810 | 111,967,365 |
| Other payables | 514,488,917 | 552,751,187 |
| Incl.: Interest payable | 100,660,637 | 73,612,703 |
| Dividend payable | 2,827,373 | 2,846,362 |
| Fees and commissions payable | ||
| Accounts payable reinsurance | ||
| Contract liability | ||
| Liabilities held for sale | ||
| Non-current liabilities due within one year | 769,577,381 | 819,448,742 |
| Other current liabilities | 300,000 | 300,000 |
| Total current liabilities | 6,018,506,913 | 6,195,246,306 |
| Non-current liabilities: | ||
| Insurance contract reserve | ||
| Long term loan | 2,306,137,500 | 2,315,700,000 |
| Bonds payable | ||
| Incl.: Preferred stock | ||
| Perpetual bond | ||
| Lease liability | ||
| Long-term payables | 536,586,830 | 529,910,796 |
| Long-term payroll pay | ||
| Estimated liabilities | ||
| Deferred income | 564,376,142 | 601,825,780 |
| Deferred income tax liabilities | 21,412,781 | 22,118,840 |
| Other non-current liabilities | ||
| Total non-current liabilities | 3,428,513,253 | 3,469,555,416 |
| Total Liabilities | 9,447,020,166 | 9,664,801,722 |
| Owners' equity: | ||
| Share capital | 2,862,840,482 | 2,863,277,201 |
| Other equity instruments |
| Incl.: Preferred stock | ||
| Perpetual bond | ||
| Capital reserve | 1,101,170,945 | 1,095,339,421 |
| Less: treasury shares | 275,555,628 | 277,180,983 |
| Other comprehensive income | 3,858,321 | 5,080,234 |
| Special reserves | 6,816,584 | 6,068,600 |
| Surplus reserve | 924,305,375 | 924,305,375 |
| General risk preparation | ||
| Undistributed profits | 4,618,453,047 | 4,486,264,723 |
| Total owner's equity attributable to the parent company | 9,241,889,126 | 9,103,154,571 |
| Minority shareholders' equity | 350,027,971 | 346,277,891 |
| Total owner's equity | 9,591,917,097 | 9,449,432,462 |
| Total Liabilities and Owner's Equity | 19,038,937,263 | 19,114,234,184 |
Legal Representative：Chen Lin Responsible person in charge of the accounting: Wang JianPrincipal of the financial department: Wang Wenxin
2. Balance Sheet of the Parent Company
Unit: RMB
| Item | Ending balance | Beginning balance |
| Current asset: | ||
| Monetary Fund | 1,157,296,686 | 1,700,726,151 |
| Transactional financial assets | ||
| Financial assets measured at fair value through profit or loss | ||
| Derivative financial assets | ||
| Notes receivable and accounts receivable | ||
| Incl.: Notes receivable | ||
| Accounts receivable | ||
| Prepayments | 821,265 | 438,167 |
| Other receivables | 3,384,540,626 | 2,912,516,245 |
| Incl.: Interest receivable | ||
| Dividend receivable | ||
| Stock | ||
| Contract assets |
| Assets held for sale | ||
| Non-current assets due within one year | ||
| Other current assets | 300,000,000 | |
| Total current assets | 4,542,658,577 | 4,913,680,563 |
| Non-current assets: | ||
| Debt investment | ||
| Available for sale financial assets | ||
| Other debt investment | ||
| Held-to-maturity investment | ||
| Long-term receivables | 1,200,000,000 | 1,200,000,000 |
| Long-term equity investment | 4,969,220,435 | 4,964,696,831 |
| Investment in other equity instruments | ||
| Other non-current financial assets | ||
| Investment real estate | ||
| Fixed assets | 19,707,895 | 20,926,071 |
| Construction in progress | ||
| Productive biological assets | ||
| Oil and gas assets | ||
| Right of use assets | ||
| Intangible assets | 732,793 | 879,146 |
| Development expenditure | ||
| Goodwill | ||
| Long-term prepaid expenses | ||
| Deferred tax assets | ||
| Other non-current assets | 1,711,338 | 732,038 |
| Total non-current assets | 6,191,372,461 | 6,187,234,086 |
| Total assets | 10,734,031,038 | 11,100,914,649 |
| Current liabilities: | ||
| Short-term loan | 2,050,000,000 | 2,000,000,000 |
| Transactional financial liabilities | ||
| Financial liabilities measured at fair value through profit or loss | ||
| Derivative financial liabilities | ||
| Notes payable and accounts payable | 150,209,636 | 261,024 |
| Advance payment | ||
| Contract liability | ||
| Payroll payable | 6,383,825 | 41,096,020 |
| Taxes payable | 2,223,489 | 1,099,231 |
| Other payables | 1,161,989,965 | 1,668,587,218 |
| Incl.: Interest payable | 55,455,963 | 41,572,125 |
| Dividend payable | 2,827,373 | 2,846,362 |
| Liabilities held for sale | ||
| Non-current liabilities due within one year | ||
| Other current liabilities | ||
| Total current liabilities | 3,370,806,915 | 3,711,043,493 |
| Non-current liabilities: | ||
| Long term loan | 2,000,000,000 | 2,000,000,000 |
| Bonds payable | ||
| Incl.: Preferred stock | ||
| Perpetual bond | ||
| Lease liability | ||
| Long-term payables | ||
| Long-term payroll pay | ||
| Estimated liabilities | ||
| Deferred income | 184,088,245 | 184,642,520 |
| Deferred income tax liabilities | ||
| Other non-current liabilities | ||
| Total non-current liabilities | 2,184,088,245 | 2,184,642,520 |
| Total Liabilities | 5,554,895,160 | 5,895,686,013 |
| Owners' equity: | ||
| Share capital | 2,862,840,482 | 2,863,277,201 |
| Other equity instruments | ||
| Incl.: Preferred stock | ||
| Perpetual bond | ||
| Capital reserve | 1,245,998,259 | 1,240,166,735 |
| Less: treasury shares | 275,555,628 | 277,180,983 |
| Other comprehensive income | ||
| Special reserves |
| Surplus reserve | 938,850,735 | 938,850,735 |
| Undistributed profits | 407,002,030 | 440,114,948 |
| Total owner's equity | 5,179,135,878 | 5,205,228,636 |
| Total Liabilities and Owner's Equity | 10,734,031,038 | 11,100,914,649 |
3. Consolidated Income Statement
Unit: RMB
| Item | Balance of this period | Balance of last period |
| I. Total revenue | 2,222,721,514 | 2,629,471,994 |
| Incl. :Business income | 2,222,721,514 | 2,629,471,994 |
| Interest income | ||
| Earned premium | ||
| Fee and commission income | ||
| II. Total business cost | 2,112,290,384 | 2,449,790,563 |
| Incl. :Business cost | 1,710,257,358 | 1,983,212,565 |
| Interest expense | ||
| Fee and commission expenses | ||
| Surrender value | ||
| Net reimbursement expenditure | ||
| Net amount of withdrawal of insurance contract reserve | ||
| Expenditures dividend policy | ||
| Amortized Reinsurance Expenditures | ||
| Taxes and surcharges | 26,974,283 | 37,091,336 |
| Sales expense | 82,460,250 | 79,742,352 |
| Management costs | 123,978,598 | 171,498,676 |
| Research and development expenses | 79,671,948 | 81,471,157 |
| Financial expenses | 82,123,543 | 92,147,066 |
| Incl. : Interest expense | 87,627,795 | 96,320,142 |
| Interest income | 6,719,497 | 10,389,262 |
| Asset impairment loss | 6,824,404 | 4,627,411 |
| Credit impairment loss | ||
| Plus: Other income | 47,460,637 | 7,579,659 |
| Investment income (“-“ for loss) |
| Incl. : Investment income in associates and joint ventures | ||
| Exchange gains (“-“ for loss) | ||
| Net open hedge income (“-“ for loss) | ||
| Fair value change income(“-“ for loss) | ||
| Asset disposal income(“-“ for loss) | 6,877,195 | -1,023,284 |
| III. Operational profit (“-“ for loss) | 164,768,962 | 186,237,806 |
| Plus: non-operational income | 687,874 | 2,200,396 |
| Less: non-operational expenses | 1,424,258 | 861,285 |
| IV. Gross profit (“-“ for loss) | 164,032,578 | 187,576,917 |
| Less: Income tax expenses | 28,094,174 | 28,552,401 |
| V. Net profit (“-“ for net loss) | 135,938,404 | 159,024,516 |
| (I) Classification by business continuity | ||
| 1. Net profit from continuous operation(“-“ for net loss) | 135,938,404 | 159,024,516 |
| 2. Discontinued operating net profit(“-“ for net loss) | ||
| (II) Classification by ownership | ||
| 1. Net profit attributable to the owners of parent company | 132,188,324 | 159,382,821 |
| 2. Minor shareholders’ equity | 3,750,080 | -358,305 |
| VI. Net after-tax amount of other comprehensive income | -1,221,913 | -2,029,007 |
| Net after-tax amount of other comprehensive income attributable to the owner of the parent company | -1,221,913 | -2,029,007 |
| (I) Other comprehensive income that cannot be reclassified into profit or loss | ||
| 1. Re-measure the change in the defined benefit plan | ||
| 2. Other comprehensive income that cannot be transferred to profit or loss under the equity method | ||
| 3. Changes in fair value of other equity instruments investment | ||
| 4. Changes in the fair value of the company's own credit risk | ||
| 5.Others | ||
| (II) Other comprehensive income that will be reclassified into profit or loss | -1,221,913 | -2,029,007 |
| 1. Other comprehensive income that can be transferred to profit or loss under the equity method |
| 2. Changes in fair value of other debt investments | ||
| 3. Gains and losses from changes in fair value of available-for-sale financial assets | ||
| 4. The amount of financial assets reclassified into other comprehensive income | ||
| 5. Held-to-maturity investments reclassified as gains and losses on available-for-sale financial assets | ||
| 6. Other debt investment credit impairment provisions | ||
| 7. Cash flow hedge reserve | ||
| 8. Foreign-currency financial statement translation difference | -1,221,913 | -2,029,007 |
| 9. Others | ||
| Net after-tax amount of other comprehensive income attributable to minority shareholders | ||
| VII. Total comprehensive income | 134,716,491 | 156,995,509 |
| Total comprehensive income attributable to owners of the Company | 130,966,411 | 157,353,814 |
| Total comprehensive income attributable to minority shareholders | 3,750,080 | -358,305 |
| VIII. Earnings per share | ||
| (I) Basic earnings per share | 0.05 | 0.06 |
| (II) Diluted earnings per share | 0.05 | 0.06 |
Legal Representative：Chen Lin Responsible person in charge of the accounting: Wang JianPrincipal of the financial department: Wang Wenxin
4. Income Statement of the Parent Company
Unit: RMB
| Item | Balance of this period | Balance of last period |
| I. Operating revenue | 20,108,542 | 14,497,732 |
| Less: Business cost | ||
| Taxes and surcharges | 220,610 | 125,403 |
| Sales expense | ||
| Management costs | 22,307,483 | 36,644,195 |
| Research and development expenses | 8,833 |
| Financial expenses | 31,366,290 | 8,614,081 |
| Incl. : Interest expense | 36,970,255 | 17,912,092 |
| Interest income | 5,862,210 | 9,650,504 |
| Asset impairment loss | -3,481 | 761 |
| Credit impairment loss | ||
| Plus: Other income | 678,275 | 470,940 |
| Investment income (“-“ for loss) | ||
| Incl. : Investment income in associates and joint ventures | ||
| Net open hedge income (“-“ for loss) | ||
| Fair value change income(“-“ for loss) | ||
| Asset disposal income(“-“ for loss) | 2,440 | |
| II. Operational profit (“-“ for loss) | -33,112,918 | -30,413,328 |
| Plus: non-operational income | 127,450 | |
| Less: non-operational expenses | ||
| III.. Gross profit (“-“ for loss) | -33,112,918 | -30,285,878 |
| Less: Income tax expenses | ||
| IV. Net profit (“-“ for net loss) | -33,112,918 | -30,285,878 |
| (I) Net profit from continuous operation(“-“ for net loss) | -33,112,918 | -30,285,878 |
| (II) Discontinued operating net profit(“-“ for net loss) | ||
| V. Net after-tax amount of other comprehensive income | ||
| (I) Other comprehensive income that cannot be reclassified into profit or loss | ||
| 1. Re-measure the change in the defined benefit plan | ||
| 2. Other comprehensive income that cannot be transferred to profit or loss under the equity method | ||
| 3. Changes in fair value of other equity instruments investment | ||
| 4. Changes in the fair value of the company's own credit risk | ||
| 5.Others | ||
| (II) Other comprehensive income that will be reclassified into profit or loss | ||
| 1. Other comprehensive income that can be transferred to profit or loss under the equity method | ||
| 2. Changes in fair value of other debt investments |
| 3. Gains and losses from changes in fair value of available-for-sale financial assets | ||
| 4. The amount of financial assets reclassified into other comprehensive income | ||
| 5. Held-to-maturity investments reclassified as gains and losses on available-for-sale financial assets | ||
| 6. Other debt investment credit impairment provisions | ||
| 7. Cash flow hedge reserve | ||
| 8.Foreign-currency financial statement translation difference | ||
| 9. Others | ||
| VI. Total comprehensive income | -33,112,918 | -30,285,878 |
| VII. Earnings per share | ||
| (I) Basic earnings per share | ||
| (II) Diluted earnings per share |
5. Consolidated Cash Flow Statement
Unit: RMB
| Item | Balance of this period | Balance of last period |
| I. Net cash flow from business operation: | ||
| Cash received from sales of products and providing of services | 2,268,333,166 | 2,585,745,573 |
| Net increase in customer deposits and interbank deposits | ||
| Net increase in borrowing from the Central Bank | ||
| Net increase in disbursements to other financial institutions | ||
| Cash received from the premium of the original insurance contract | ||
| Net cash received from reinsurance business | ||
| Net increase of insured deposit and investment | ||
| Disposal of the net increase in financial assets measured at fair value through profit or loss | ||
| Cash charged with interest, handling fees and commissions | ||
| Net increase in funds disbursed | ||
| Net increase in repurchase business funds | ||
| Net cash received from trading securities |
| Refunds of taxes | 1,825,553 | 8,714,717 |
| Received other cash related to business activities | 26,891,640 | 19,321,411 |
| Subtotal of cash inflow from operating activities | 2,297,050,359 | 2,613,781,701 |
| Cash paid for the purchase of goods and services | 1,445,370,845 | 1,794,681,827 |
| Net increase in customer loans and advances | ||
| Deposit of net increase in Central Bank and interbank payments | ||
| Cash for payment of original insurance contract claims | ||
| Net increase in financial assets held for trading purposes | ||
| Net increase in funds dismantled | ||
| Cash for payment of interest, handling fees and commissions | ||
| Cash paid for policy dividends | ||
| Cash paid to and for employees | 418,315,107 | 421,471,968 |
| Payments of all types of taxes | 138,793,875 | 182,508,067 |
| Payment of other cash related to business activities | 158,253,170 | 154,896,133 |
| Subtotal of cash outflow from operating activities | 2,160,732,997 | 2,553,557,995 |
| Net cash flow from operating activities | 136,317,362 | 60,223,706 |
| II. Cash flows from investing activities: | ||
| Recovery of Cash Received from Investment | ||
| Cash received from investment income | ||
| Net cash recovered from disposal of fixed assets, intangible assets and other long-term assets | 334,400 | 1,772,886 |
| Net cash received from disposal of subsidiaries and other business units | ||
| Other cash received relating to investing activities | 209,085 | 3,249,483 |
| Subtotal of cash inflows from investment activities | 543,485 | 5,022,369 |
| Cash paid for the purchase and construction of fixed assets, intangible assets and other long-term assets | 127,234,513 | 112,300,336 |
| Cash for investment payments | ||
| Net increase in pledge loans | ||
| Net cash paid by subsidiaries and other business units | ||
| Other cash paid relating to investing activities | 606,824 | 14,102,400 |
| Subtotal of cash outflows from investment activities | 127,841,337 | 126,402,736 |
| Net cash flows from investing activities | -127,297,852 | -121,380,367 |
| III. Cash flow from financing activities: | ||
| Cash received by absorbing investments | ||
| Incl. : Cash received by subsidiary companies to absorb minority shareholders' Investment | ||
| Cash received from the loan | 835,500,000 | 850,600,000 |
| Cash received from the issuance of bonds | ||
| Other financing-related cash received | 500,000,000 | 303,833 |
| Subtotal of cash inflows from financing activities | 1,335,500,000 | 850,903,833 |
| Cash paid for debt repayment | 930,211,970 | 545,750,000 |
| Cash paid for dividends, profits or interest payments | 62,397,350 | 81,914,082 |
| Incl. : Dividends and profits paid by subsidiaries to minority shareholders | ||
| Payment of other cash related to financing activities | 359,331,565 | 213,115,386 |
| Subtotal of cash outflows from financing activities | 1,351,940,885 | 840,779,468 |
| Net cash flow from financing activities | -16,440,885 | 10,124,365 |
| IV. Influence of exchange rate alternation on cash and cash equivalents | -1,620,779 | -4,370,245 |
| V. Net increase in cash and cash equivalents | -9,042,154 | -55,402,541 |
| Plus: Balance of cash and cash equivalents at the beginning of term | 2,225,126,913 | 2,459,753,165 |
| VI. Balance of cash and cash equivalents at the end of term | 2,216,084,759 | 2,404,350,624 |
6. Cash Flow Statement of the Parent Company
Unit: RMB
| Item | Balance of this period | Balance of last period |
| I. Net cash flow from business operation: | ||
| Cash received from sales of products and providing of services | ||
| Refunds of taxes | ||
| Received other cash related to business activities | 12,431,042 | 10,761,525 |
| Subtotal of cash inflow from operating activities | 12,431,042 | 10,761,525 |
| Cash paid for the purchase of goods and services | ||
| Cash paid to and for employees | 51,404,986 | 38,812,139 |
| Payments of all types of taxes | 1,047,643 | 701,230 |
| Payment of other cash related to business activities | 8,308,180 | 4,822,289 |
| Subtotal of cash outflow from operating activities | 60,760,809 | 44,335,658 |
| Net cash flow from operating activities | -48,329,767 | -33,574,133 |
| II. Cash flows from investing activities: | ||
| Recovery of Cash Received from Investment | ||
| Cash received from investment income | ||
| Net cash recovered from disposal of fixed assets, intangible assets and other long-term assets | 2,440 | |
| Net cash received from disposal of subsidiaries and other business units | ||
| Other cash received relating to investing activities | ||
| Subtotal of cash inflows from investment activities | 2,440 | |
| Cash paid for the purchase and construction of fixed assets, intangible assets and other long-term assets | 1,522,855 | 262,260 |
| Cash for investment payments | ||
| Net cash paid by subsidiaries and other business units | ||
| Other cash paid relating to investing activities | ||
| Subtotal of cash outflows from investment activities | 1,522,855 | 262,260 |
| Net cash flows from investing activities | -1,522,855 | -259,820 |
| III. Cash flow from financing activities: | ||
| Cash received by absorbing investments | ||
| Cash received from the loan | 700,000,000 | 500,000,000 |
| Cash received from the issuance of bonds | ||
| Other financing-related cash received | 152,171,097 | |
| Subtotal of cash inflows from financing activities | 700,000,000 | 652,171,097 |
| Cash paid for debt repayment | 650,000,000 | 250,000,000 |
| Cash paid for dividends, profits or interest payments | 22,874,958 | 19,945,850 |
| Payment of other cash related to financing activities | 670,685,645 | |
| Subtotal of cash outflows from financing activities | 1,343,560,603 | 269,945,850 |
| Net cash flow from financing activities | -643,560,603 | 382,225,247 |
| IV. Influence of exchange rate alternation on cash and cash equivalents | -17,160 | -33,040 |
| V. Net increase in cash and cash equivalents | -693,430,385 | 348,358,254 |
| Plus: Balance of cash and cash equivalents at the beginning of term | 1,699,514,334 | 1,680,672,390 |
| VI. Balance of cash and cash equivalents at the end of term | 1,006,083,949 | 2,029,030,644 |
II. Note to the Adjustment of Financial Statements
Adjustment of the relevant financial statements at current year beginning according to new standards forfinancial instruments, the new standards for revenues and the new standards for lease initiallyimplemented
□ Applicable √Not applicable
2. Note to the retroactive adjustment of the previous comparative data according to the new standards forfinancial instruments and the new standards for lease initially implemented
□ Applicable √Not applicable
II. Report of the Auditors
Whether the First Quarter Report has been audited or not□ Yes √ NoThe First Quarter Report hasn’t been audited.
Board of Directors ofCSG Holding Co., Ltd.26 April 2019