THIRD QUARTERLY REPORT 2020
October 2020
Part I Important Notes
The Board of Directors (or the “Board”), the Supervisory Committee as well as the directors,supervisors and senior management of BOE Technology Group Co., Ltd. (hereinafter referredto as the “Company”) hereby guarantee the factuality, accuracy and completeness of thecontents of this Report and its summary, and shall be jointly and severally liable for anymisrepresentations, misleading statements or material omissions therein.All the Company’s directors have attended the Board meeting for the review of this Reportand its summary.Mr. Chen Yanshun, the Company’s legal representative, Mr. Liu Xiaodong, president of theCompany’s Execution Committee(Chief Executive Officer), Ms. Sun Yun, the Company’sChief Financial Officer, and Ms. Yang Xiaoping, head of the Company’s financial department(equivalent to financial manager) hereby guarantee that the Financial Statements carried inthis Report are factual, accurate and complete.This Report has been prepared in both Chinese and English. Should there be anydiscrepancies or misunderstandings between the two versions, the Chinese version shallprevail.
Part II Key Corporate InformationI Key Consolidated Financial Information
Indicate by tick mark whether there is any retrospectively restated datum in the table below.
□ Yes √ No
| Item | 30 September 2020 | 31 December 2019 | Change (%) | |||
| Total assets (RMB) | 363,168,000,656.00 | 340,412,203,308.00 | 6.68% | |||
| Equity attributable to the listed company’s shareholders (RMB) | 101,109,228,915.00 | 95,058,129,055.00 | 6.37% | |||
| Item | Q3 2020 | YoY change (%) | Q1-Q3 2020 | YoY change (%) | ||
| Operating revenue (RMB) | 40,820,898,656.00 | 33.04% | 101,687,972,162.00 | 18.63% | ||
| Net profit attributable to the listed company’s shareholders (RMB) | 1,340,387,777.00 | 629.30% | 2,475,838,102.00 | 33.67% | ||
| Net profit attributable to the listed company’s shareholders before exceptional items (RMB) | 1,064,128,213.00 | - | 887,799,628.00 | - | ||
| Net cash generated from/used in operating activities (RMB) | 13,751,838,874.00 | 178.83% | 23,468,514,408.00 | 42.00% | ||
| Basic earnings per share (RMB/share) | 0.035 | 600.00% | 0.061 | 15.09% | ||
| Diluted earnings per share (RMB/share) | 0.035 | 600.00% | 0.061 | 15.09% | ||
| Weighted average return on equity (%) | 1.37% | 1.16% | 2.42% | 0.28% | ||
Exceptional gains and losses:
√ Applicable □ Not applicable
Unit: RMB
| Item | Q1-Q3 2020 | Note |
| Gain or loss on disposal of non-current assets (inclusive of impairment allowance write-offs) | -3,937,719.00 | N/A |
| Tax rebates, reductions and exemptions with ultra vires approval or in lack of duly approved document | 0.00 | N/A |
| Government subsidies charged to current profit and loss (exclusive of government subsidies given in the Company’s ordinary course of business at fixed quotas or amounts as per government’s uniform standards ) | 1,855,998,083.00 | N/A |
| Capital occupation charges on non-financial enterprises that are charged to current gains and losses | 0.00 | N/A |
| Income equal to the amount by which investment costs for the Company to | 0.00 | N/A |
| obtain subsidiaries, associates and joint ventures are lower than the Company’s enjoyable fair value of identifiable net assets of investees when making investments | ||
| Gains and losses on non-monetary asset swap | 0.00 | N/A |
| Gains and losses on investment or asset management entrustments to other entities | 0.00 | N/A |
| Allowance for asset impairments due to acts of God such as natural disasters | 0.00 | N/A |
| Gains and losses on debt restructuring | 0.00 | N/A |
| Restructuring costs in staff arrangement, integration, etc. | 0.00 | N/A |
| Gains and losses on over-fair value amount as a result of transactions with distinctly unfair prices | 0.00 | N/A |
| Current gains and losses on subsidiaries acquired through business mergers under same control from period-beginning to merger dates, net | 0.00 | N/A |
| Gains and losses on contingencies that do not arise in the Company’s ordinary course of business | 0.00 | N/A |
| Gain or loss on fair-value changes in held-for-trading financial assets and liabilities and derivative financial assets and liabilities & investment income from disposal of held-for-trading financial assets and liabilities and derivative financial assets and liabilities, and other debt investments (exclusive of effective portion of hedges that arise in the Company’s ordinary course of business) | 41,769,702.00 | N/A |
| Reversed portion of impairment allowance for accounts receivable and contract assets which are tested individually for impairment | 7,805,828.00 | N/A |
| Gains and losses on loan entrustment | 0.00 | N/A |
| Gains and losses on fair value changes in investment property of which subsequent measurement is carried out using fair value method | 0.00 | N/A |
| Effects of all adjustments required by taxation, accounting and other applicable laws and regulations on current gains and losses | 0.00 | N/A |
| Income from charges on entrusted management | 0.00 | N/A |
| Non-operating income and expense other than above | 55,534,652.00 | N/A |
| Other gains and losses that meet definition of nonrecurring gain/loss | 0.00 | N/A |
| Less: Income tax effects | 123,536,748.00 | N/A |
| Non-controlling interests effects (net of tax) | 245,595,324.00 | N/A |
| Total | 1,588,038,474.00 | -- |
Explanation of why the Company reclassifies as recurrent an exceptional gain/loss item defined or listed in the ExplanatoryAnnouncement No. 1 on Information Disclosure for Companies Offering Their Securities to the Public—Exceptional Gain/LossItems:
□Applicable √ Not applicable
No such cases in the Reporting Period.
II Total Number of Shareholders and Holdings of Top 10 of Them as at the End of theReporting Period
1. Numbers of Ordinary Shareholders and Preference Shareholders with Resumed Voting Rights as well asHoldings of Top 10 Shareholders
Unit: share
| Number of ordinary shareholders | 1,207,757 (including 1,168,162 A-shareholders and 39,595 B-shareholders) | |||||||
| Top 10 shareholders | ||||||||
| Name of shareholder | Nature of shareholder | Shareholding percentage | Total shares held | Restricted shares | Shares in pledge or frozen | |||
| Status | Shares | |||||||
| Beijing State-owned Capital Operation and Management Center | State-owned corporation | 11.68% | 4,063,333,333 | 0 | N/A | 0 | ||
| Hong Kong Securities Clearing Company Ltd. | Foreign corporation | 5.21% | 1,812,788,406 | 0 | N/A | 0 | ||
| Hefei Jianxiang Investment Co., Ltd. | State-owned corporation | 3.10% | 1,078,869,310 | 0 | N/A | 0 | ||
| Chongqing Ezcapital Opto-electronic Industry Investment Co., Ltd. | State-owned corporation | 2.92% | 1,014,888,138 | 0 | N/A | 0 | ||
| Beijing BOE Investment & Development Co., Ltd. | State-owned corporation | 2.36% | 822,092,180 | 0 | N/A | 0 | ||
| Hefei Jianxin Investment Co., Ltd. | State-owned corporation | 2.30% | 800,000,000 | 0 | N/A | 0 | ||
| Beijing Yizhuang Investment Holdings Co., Ltd | State-owned corporation | 1.46% | 507,008,046 | 0 | N/A | 0 | ||
| Generali China－China Merchants Bank－Generali Assets－Qihang No. 1 Asset Management Products | Other | 0.94% | 325,728,500 | 0 | N/A | 0 | ||
| Generali China－China Merchants Bank－Generali Assets－Chengping No. 1 Asset Management Products | Other | 0.88% | 305,643,700 | 0 | N/A | 0 | ||
| China Merchants Bank Co., Ltd.－Galaxy Innovation Growth Hybrid Securities Investment Fund | Other | 0.87% | 303,999,829 | 0 | N/A | 0 | ||
| Top 10 unrestricted shareholders | ||||||||
| Name of shareholder | Unrestricted ordinary shares held | Shares by class | ||||||
| Class | Shares | |||||||
| Beijing State-owned Capital Operation and | 4,063,333,333 | RMB-denominated ordinary share | 4,063,333,333 | |||||
| Management Center | |||
| Hong Kong Securities Clearing Company Ltd. | 1,812,788,406 | RMB-denominated ordinary share | 1,812,788,406 |
| Hefei Jianxiang Investment Co., Ltd. | 1,078,869,310 | RMB-denominated ordinary share | 1,078,869,310 |
| Chongqing Ezcapital Opto-electronic Industry Investment Co., Ltd. | 1,014,888,138 | RMB-denominated ordinary share | 1,014,888,138 |
| Beijing BOE Investment & Development Co., Ltd. | 822,092,180 | RMB-denominated ordinary share | 822,092,180 |
| Hefei Jianxin Investment Co., Ltd. | 800,000,000 | RMB-denominated ordinary share | 800,000,000 |
| Beijing Yizhuang Investment Holdings Co., Ltd | 507,008,046 | RMB-denominated ordinary share | 507,008,046 |
| Generali China－China Merchants Bank－Generali Assets－Qihang No. 1 Asset Management Products | 325,728,500 | RMB-denominated ordinary share | 325,728,500 |
| Generali China－China Merchants Bank－Generali Assets－Chengping No. 1 Asset Management Products | 305,643,700 | RMB-denominated ordinary share | 305,643,700 |
| China Merchants Bank Co., Ltd.－Galaxy Innovation Growth Hybrid Securities Investment Fund | 303,999,829 | RMB-denominated ordinary share | 303,999,829 |
| Related or acting-in-concert parties among shareholders above | 1. After the non-public issuing of BOE in 2014, Hefei Jianxiang Investment Co., Ltd. and Chongqing Ezcapital Opto-electronic Industry Investment Co., Ltd., by entering into Implementation Protocol of Voting Right respectively, agreed to maintain all of the shares held by them respectively unanimous with Beijing BOE Investment & Development Co., Ltd. when executing the voting rights of the shareholders. 2. Except for the above relationships, the Company does not know any other connected party or acting-in-concert party among the top 10 shareholders. | ||
| Top 10 ordinary shareholders involved in securities margin trading (if any) | The Company’s shareholder Beijing Yizhuang Investment Holdings Co., Ltd. decreased its shareholding in the Company of 46,944,800 shares for involved in refinancing business. | ||
Indicate by tick mark whether any of the top 10 ordinary shareholders or the top 10 unrestricted ordinary shareholders of theCompany conducted any promissory repo during the Reporting Period.
□ Yes √ No
No such cases in the Reporting Period.
2. Number of Preference Shareholders and Shareholdings of Top 10 of Them
□ Applicable √ Not applicable
Part III Significant Events
I Changes in Key Financial Statement Line Items and Explanation of why
√ Applicable □ Not applicable
1. Accounts receivable as at 30 September 2020 rose 42% compared to 31 December 2019, primarily driven by an increase inamounts due from customers with expanding operating revenue in the Reporting Period.
2. Inventories as at 30 September 2020 rose 31% compared to 31 December 2019, primarily driven by expanding operating revenueand the mass production in respect of new project in the Reporting Period.
3. Fixed assets as at 30 September 2020 rose 33% compared to 31 December 2019, primarily driven by the transfer of newconstruction to fixed assets in the Reporting Period.
4. Construction in progress as at 30 September 2020 declined 38% compared to 31 December 2019, primarily driven by the transferof new construction to fixed assets in the Reporting Period.
5. The current portion of non-current liabilities as at 30 September 2020 rose 32% compared to 31 December 2019, primarily drivenby the transfer of long-term borrowings to this item in the Reporting Period.
6. Administrative expense rose 30% during Q1-Q3 2020 compared to Q1-Q3 2019, primarily driven by expanding operating revenuein the Reporting Period.
7. Finance costs rose 40% during Q1-Q3 2020 compared to Q1-Q3 2019, primarily driven by Q1-Q3 2019 seeing the repayment ofconvertible debt by the Company.
8. Return on investment rose 100% during Q1-Q3 2020 compared to Q1-Q3 2019, primarily driven by an increase in the Company’sshare of profit of associates in the Reporting Period.
9. Asset impairment loss rose 51% during Q1-Q3 2020 compared to Q1-Q3 2019, primarily driven by an increase in inventoryvaluation allowances, which were made at the lower of cost and net realizable value.
10. Net cash generated from operating activities rose 42% during Q1-Q3 2020 compared to Q1-Q3 2019, primarily driven by anincrease in operating profit as a result of a bigger business size and an increase in tax and levy rebates.
II Progress, Influence and Solutions in respect of Significant Events
√ Applicable □ Not applicable
1. On 18 October 2019, the Company disclosed the Announcement on the Company’s Application for CSRC’s Approval for itsPublic Issue of Renewable Corporate Bonds (Announcement No. 2019-052), and the Company received the No. [2019] 1801Approval from CSRC. Based on the approval, the Company could publicly issue the renewable corporate bonds with the nominalvalue no more than RMB30 billion to qualified investors. The Company publicly issued renewable corporate bonds (to qualifiedinvestors) (the first issue) (“19BOEY1” for short; Code: 112741) in 2019 with the issue term from 28 October 2019 to 29 October2019, the issuing scale of RMB8 billion and the bonds’ ultimate nominal interest rate of 4.0%. The Company publicly issuedrenewable corporate bonds (to qualified investors) (the first issue) (epidemic prevention and control bonds) (“20BOEY1” for short;Code: 149046) in 2020 with the issue term from 27 February 2020 to 28 February 2020, the issuing scale of RMB2 billion and thebonds’ ultimate nominal interest of 3.64%. The Company publicly issued the renewable corporate bonds (to qualified investors) (thesecond issue) (epidemic prevention and control bonds) (“20BOEY2” for short; Code: 149065) in 2020 with the issue term from 18March 2020 to 19 March 2020, the issuing scale of RMB2 billion and the bonds’ ultimate nominal interest of 3.54%. The Company
publicly issued the renewable corporate bonds (to qualified investors) (the third issue) (epidemic prevention and control bonds)(“20BOEY3” for short; Code: 149108) in 2020 with the issue term from 24 April 2020 to 27 April 2020, the issuing scale of RMB2billion and the bonds’ ultimate nominal interest of 3.50%. 29 October 2020 represented the one-year mark for the renewablecorporate bonds (to qualified investors) (the first issue) publicly issued by the Company in 2019 with the issue term from 28 October2019 to 29 October 2019. According to the relevant rules, interest is payable annually during the interest period. On 22 October 2020,the Company disclosed the Announcement No. 2020-065 on the Payment of Interest for “19BOEY1” for 2020 with RMB40.00 (taxinclusive)/10 bonds.
2. The Company’s wholly-owned subsidiary BOE Technology (HK) Limited filed a lawsuit on the sales contract dispute to the superiorpeople’s court in Beijing, and the defendants included LETV Mobile Intelligent Information Technology (Beijing) Co., Ltd.(hereinafter referred to as “LETV Mobile”), LETV Holdings (Beijing) Co., Ltd., Le Sai Mobile Technology (Beijing) Co., Ltd. and JiaYueting with the claimed amount of USD41.84 million in total. However, Beijing Municipal Superior People’s Court respectivelyissued the Notice of Acceptance and the Civil Ruling Paper on Property Preservation on July 6, 2017 and July 31, 2017. LETV Mobileever put forward the jurisdiction objection to Beijing Municipal Superior People’s Court, which was rejected, and then launched alawsuit on the judgment of the jurisdiction objection to the Supreme People’s Court. Finally, the Supreme People’s Court made thefinal ruling, rejected the appeal of LETV Mobile and affirmed the original judgment. On 8 March 2019, the first hearing was held inBeijing Municipal Superior People’s Court. On 19 February 2020, Beijing Municipal Superior People’s Court issued the first instancejudgment:
(1) The defendant (LETV Mobile Intelligent Information Technology (Beijing) Co., Ltd.) shall pay the plaintiff (BOE Technology (HK)Limited) the owed principal USD36,940,476.77 and the resulting interests (regarding the principal USD12,871,274.5 as the interestbasis from 8 September 2016 to 1 March 2017, USD12,144,001.77 from 2 March 2017 to the actual payment day, USD16,172,935from October 13, 2016 to the actual payment day, USD8,488,690 from November 10, 2016 to the actual payment day, and US134,850from 8 December 2016 to the actual payment day; the annual interest rate shall be 6% (365 days)), as well as the liquidated damages(regarding the principal USD2,052,248.71 as the basis from 30 April 2017 to 1 July 2017, USD2,052,248.71 from 31 May 2017 to 1July 2017, USD2,052,248.71 from 30 June 2017 to 1 July 2017, and USD36,940,476.77 from 2 July 2017 to the actual payment day;the penalty standard was 0.03% per day); under the Installment Payment Agreement within 10 days after the judgment took effect;
(2) The defendant LETV Holdings (Beijing) Co., Ltd. shall burden the joint and several guarantee for the debt owed by LETV MobileIntelligent Information Technology (Beijing) Co., Ltd. Defined in the judgment (Item I);
(3) After the Defendant LETV Holdings (Beijing) Co., Ltd. burdens the joint and several guarantee related to Item II, LETV Holdings(Beijing) Co., Ltd. shall have the right to claim compensation from LETV Mobile Intelligent Information Technology (Beijing) Co.,Ltd.;
(4) The defendant(LETV Mobile Intelligent Information Technology (Beijing) Co., Ltd.) shall pay the plaintiff (BOE Technology (HK)Limited) the owed principal USD2,459,090.91 and the resulting interests (regarding the principal USD2,459,090.91 as the interestbasis from 27 May 2017 to 19 August 2019 with the PBC’s benchmark interest rate for loan during the same period as the standard;USD2,459,090.91 from August 20, 2019 to the actual payment day with the quoted interest rate of the loan market issued by thenational inter-bank offer center as the standard; the year shall have 365 days) under the Purchase Order with the goods paymentUSD2.75 million;
(5) Other claims of the plaintiff (BOE Technology (HK) Limited) shall be rejected.
If the defendant LETV Mobile Intelligent Information Technology (Beijing) Co., Ltd. and LETV Holdings (Beijing) Co., Ltd. fails tofulfill their payment obligation as scheduled in the judgment, the Defendant shall pay the double debt interests during the delayedperiod according to Article 253 of Civil Procedure Law of the People’s Republic of China.The litigation fee was RMB1,465,371.63, of which, RMB5,371.63 shall be paid by the plaintiff BOE Technology (HK) Limited(already paid), and RMB1.46 million shall be jointly burdened by LETV Mobile Intelligent Information Technology (Beijing) Co., Ltd.and LETV Holdings (Beijing) Co., Ltd. (payment within 7 days after the judgment took effect); the preservation fee was RMB5000,
which shall be jointly burdened by LETV Mobile Intelligent Information Technology (Beijing) Co., Ltd. and LETV Holdings (Beijing)Co., Ltd. (payment within 7 days after the judgment took effect).On 17 March 2020, BOE Technology (HK) Limited received the petition for appeal submitted by LETV Holdings (Beijing) Co., Ltd. tothe court. LETV Holdings (Beijing) Co., Ltd. failed to pay the fee for the appeal it had instituted. On 8 July 2020, the SupremePeople’s Court ruled that the appellant LETV Holdings (Beijing) Co., Ltd. was deemed to have withdrawn its appeal and that thefirst-instance judgment take into effect upon its arrival to the appellant. BOE Technology (HK) Limited has filed an Application forEnforcement to Beijing Higher People’s Court, and the court has accepted the application for further handling. The Company hascalculated corresponding bad-debt provision for the account receivables equaling the above-mentioned claimed amount according tothe accounting standards, which has uncertain influence on the Company.
3. On 29 August 2020, the Company disclosed the Announcement No. 2020-047 on the Resolutions of the 15
th
Meeting of the 9
th
Board of Directors, the Plan for the Grant of Share Options and Restricted Shares for 2020 and other relevant announcements. Assuch, the Company intended to carry out an equity incentive plan, which would comprise a share option incentive and a restrictedshare incentive. The shares needed would be sourced from RMB-denominated ordinary shares (A-shares) of the Companyrepurchased from the secondary market. The total shares under the plan would not exceed 981,150,000 shares, which included639,900,000 share options and 341,250,000 restricted shares, together representing around 2.82% of the Company’s total sharecapital of 34,798,398,763 shares at the time when the draft of the equity incentive plan was disclosed in an announcement. The shareoption and restricted share incentive plan of 2020 is still subject to approval of the State-Owned Assets Supervision andAdministration Commission of People’s Government of Beijing Municipality and of the Company’s general meeting.
| Summary of the significant event | Date of disclosure | Index to disclosure |
| Announcement on the Acquisition of a 16.67% Interest in BEHC Industrial Investment from NAURA & the Related-Party Transaction | 24 July 2020 | www.cninfo.com.cn |
| Announcement on the Intension to Acquire Interests in Nanjing CEC Panda FPD Technology Co., Ltd. and Chengdu CEC Panda Display Technology Co., Ltd. | 24 September 2020 | www.cninfo.com.cn |
Progress of any share repurchase:
√ Applicable □ Not applicable
Following the approval of the Proposal on the Repurchase of Certain Public Shares at the 15
th
Meeting of the 9
thBoard of Directors,the Company disclosed the Announcement No. 2020-049 on the Plan for the Repurchase of Certain Public Shares dated 29 August2020. The Company carried out the first repurchase on 2 September 2020 and disclosed the Announcement No. 2020-056 on the FirstRepurchase of Certain Public Shares dated 3 September 2020. On 4 September 2020, the Company disclosed the Announcement No.2020-057 on Progress of the Repurchase of Certain Public Shares and the Announcement No. 2020-058 on the Completion of theShare Repurchase Plan & the Repurchase Results. As such, as of 3 September 2020, the Company repurchased, through its securitiesaccount for repurchase and by way of centralized bidding, a total of 349,999,933 A-shares, accounting for approximately 1.03% ofthe Company’s total A-shares and approximately 1.01% of the Company’s total shares. With the highest trading price beingRMB5.79/share and the lowest being RMB5.54/share, this repurchase cost a total of RMB1,998,774,693.72 (including commissionsand other fixed fees). As such, the number of shares repurchased reached the upper limit of the repurchase plan, marking thecompletion of the implementation of the plan.Progress of any reduction of the repurchased shares through centralized bidding:
□ Applicable √ Not applicable
III Commitments that the Company’s Actual Controller, Shareholders, Related Parties, Acquirers, the Company Itself or Other Parties,Failed to Fulfill on Time during the Reporting Period
√ Applicable □ Not applicable
| Commitment | Promisor | Type of commitment | Details of commitment | Date of commitment making | Term of commitment | Fulfillment |
| Commitments made in share reform | - | - | - | - | - | - |
| Commitments made in acquisition documents or shareholding alteration documents | - | - | - | - | - | - |
| Commitments made in time of asset restructuring | - | - | - | - | - | - |
| Commitment made in IPO or refinancing | - | - | - | - | - | - |
| Commitment made in stock ownership incentive | - | - | - | - | - | - |
| Other commitments made to minority shareholders | Part of directors, supervisors and senior managers of the Company | Other commitment | According to the Announcement on the Commitment of Part of Directors, Supervisors and Senior Managers Not to Reduce Shareholding of the Company disclosed on 22 February 2020 (Announcement No.: 2020-001), the Company’s directors, supervisors and senior managers, based on their confidence in the Company’s future development and their recognition of the corporate value, promise not to reduce or transfer any shares held in BOE (A shares), not to entrust others to manage specific shares, not to authorize others to execute their voting right by means of any agreement, trust or other arrangements and not to require the Company to repurchase any specific shares during the terms of office and within 6 months after their tenures expire so as to promote the Company’s continuous, stable and healthy development and maintain the rights and interests of the Company and all shareholders. For any newly-added shares derived from the assignment of rights and interests including the | 21 February 2020 | During the term as director, supervisor or senior manager, and in six months after the expiration of the term (the term determined when taking | Ongoing |
| share donation and the reserved funds converted into share capital during the period (corresponding to the specific shares), they shall still keep their promises till the commitment period expires. | office). | ||||
| Fulfill on time or not | Yes | ||||
| Specific reasons for failing to fulfill commitments on time and plans for next step (if any) | None | ||||
IV Financial Investments
1. Securities Investments
√ Applicable □ Not applicable
Unit: RMB
| Type of securities | Code of securities | Name of securities | Initial investment cost | Accounting measurement method | Opening carrying amount | Gain/loss on fair-value changes in the current period | Cumulative fair-value changes through equity | Purchased in the current period | Sold in the current period | Gain/loss in the current period | Closing carrying amount | Accounting title | Funding source |
| Domestic and overseas stock | SH600658 | Electronic Zone | 90,160,428.00 | Fair value method | 72,585,692.00 | 0.00 | -15,375,169.00 | 0.00 | 0.00 | 1,842,137.00 | 74,785,259.00 | Other equity instrument investment | Self-funded |
| Domestic and overseas stock | HK01963 | Bank of Chongqing | 120,084,375.00 | Fair value method | 105,407,103.00 | 0.00 | -31,306,873.00 | 0.00 | 0.00 | 5,877,804.00 | 88,777,502.00 | Other equity instrument investment | Self-funded |
| Domestic and overseas stock | HK06066 | China Securities | 70,041,364.00 | Fair value method | 68,545,920.00 | 0.00 | 6,144,610.00 | 0.00 | 70,041,364.00 | 0.00 | 0.00 | Other equity instrument | Self-funded |
| investment | |||||||||||||
| Domestic and overseas stock | HK01518 | New Century Healthcare | 140,848,850.00 | Fair value method | 53,586,259.00 | 0.00 | -122,572,847.00 | 0.00 | 0.00 | 0.00 | 18,276,003.00 | Other equity instrument investment | Self-funded |
| Other securities investments held at the period-end | 0.00 | -- | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | -- | -- | ||
| Total | 421,135,017.00 | -- | 300,124,974.00 | 0.00 | -163,110,279.00 | 0.00 | 70,041,364.00 | 7,719,941.00 | 181,838,764.00 | -- | -- | ||
| Disclosure date of the announcement about the board’s consent for the securities investment | N/A | ||||||||||||
| Disclosure date of the announcement about the general meeting’s consent for the securities investment (if any) | N/A | ||||||||||||
2. Investments in Derivative Financial Instruments
√ Applicable □ Not applicable
Unit: RMB’0,000
| Operating party | Relationship with the Company | Related-party transaction or not | Type of derivative | Initial investment amount | Beginning date | Ending date | Beginning investment | Purchased in Reporting Period | Sold in Reporting Period | Impairment allowance (if any) | Ending investment | Ending investment as % of the Company’s ending net assets | Actual gain/loss in Reporting Period |
| Financial institutions | Not a related party | No | Foreign exchange forwards contract | 78,133.44 | 1 January 2020 | 30 September 2020 | 78,133.44 | 134,273.58 | 92,617.36 | - | 119,789.66 | 0.78% | 683.17 |
| Total | 78,133.44 | -- | -- | 78,133.44 | 134,273.58 | 92,617.36 | - | 119,789.66 | 0.78% | 683.17 | |||
| Funding source | Self-funded |
| Legal matters involved (if applicable) | N/A |
| Analysis of risks and control measures associated with derivative investments held in Reporting Period (including but not limited to market risk, liquidity risk, credit risk, operational risk, legal risk, etc.) | As of the end of the reporting period, the financial derivatives held by the company are foreign exchange forward contracts, and the risks faced are related to the uncertainty of the foreign exchange market in the future. The company's control measures for the financial derivatives are as follows: the company controls the types of derivative transactions, reasonably matches the scale of derivative transactions, and the transactions must match the company's production, operation and development planning, mainly for the purpose of cost locking and risk prevention. |
| Changes in market prices or fair value of derivative investments in Reporting Period (fair value analysis should include measurement method and related assumptions and parameters) | The fair value of the invested derivatives at the end of the reporting period shall be determined by reference to the market quotation of the external financial institutions. |
| Major changes in accounting policies and specific accounting principles adopted for derivative investments in Reporting Period compared to last reporting period | No major changes |
| Opinion of independent directors on derivative investments and risk control | N/A |
V Progress of Projects Financed with Raised Funds
√ Applicable □ Not applicable
Unit: RMB’0,000
| Amount of raised funds (Note 1) | 1,392,266 | Total investment of raised funds in the Reporting Period | 646,796 | |||||
| Amount with usage changed of raised funds during the Reporting Period | —— | Total accumulative investment of raised funds | 1,392,266 | |||||
| Accumulative amount with usage changed of raised funds | —— | |||||||
| Proportion of total accumulative amount with usage changed of raised funds | 0% | |||||||
| Committed investment projects | Projects has been changed or not (including partial changes) | Total committed investment of raised funds | Total investment after adjustment (1) | Investment in Q1-Q3 | Accumulative investment as of the period-end (2) | Progress of investment as of the period-end (3) =(2)/(1) | Whether major changes occur in project feasibility | |
| 19BOEY1 | ||||||||
| Capital increase to subsidiries | No | 450,000 | 445,600 | 50,130 | 445,600 | 100% | —— | |
| Repayment | No | 350,000 | 350,000 | - | 350,000 | 100% | —— | |
| Subtotal of committed investment projects | 800,000 | 795,600 | 50,130 | 795,600 | 100% | —— | |
| 20BOEY1 | |||||||
| Capital increase to subsidiries | No | 200,000 | 198,900 | 198,900 | 198,900 | 100% | —— |
| Subtotal of committed investment projects | 200,000 | 198,900 | 198,900 | 198,900 | 100% | —— | |
| 20BOEY2 | |||||||
| Capital increase to subsidiries | No | 200,000 | 198,878 | 198,878 | 198,878 | 100% | —— |
| Subtotal of committed investment projects | 200,000 | 198,878 | 198,878 | 198,878 | 100% | —— | |
| 20BOEY3 | |||||||
| Capital increase to subsidiries | No | 180,000 | 180,000 | 180,000 | 180,000 | 100% | —— |
| Supplement to working | No | 20,000 | 18,888 | 18,888 | 18,888 | 100% | —— |
capitalSubtotal of committed investment projects
| Subtotal of committed investment projects | 200,000 | 198,888 | 198,888 | 198,888 | - | —— |
| Total committed investment projects | 1,400,000 | 1,392,266 | 646,796 | 1,392,266 | - | —— |
| Situation and reasons for not meeting schemed progress or anticipated income | No | |||||
| Note to major changes in project feasibility | No | |||||
| Amount, usage and progress of over-raised funds | No |
| Changes in implementation place of projects financed with raised funds | No |
| Adjustment of implementation method of projects financed with raised funds | No |
| Up-front investment and replacement of projects financed with raised funds | As of 30 September 2020, the Company has replaced RMB4,515 million of up-front investment of committed investment projects by raised funds, of which RMB785 million was replaced for up-front investment projects of raised funds by 2019 initial renewable corporation bonds, RMB1,600 million was replaced for up-front investment projects of raised funds by 2020 first renewable corporation bonds, and RMB1,200 million was replaced by 2020 second corporation bonds and RMB930 million was replaced by 2020 third corporation bonds. |
| Supplement to working capital temporarily by idle raised funds | No |
| Surplus amount of raised funds for projects and reasons | No |
| Usage and destination for unused raised funds | No |
| Problems or others when using raised funds and disclosing | No |
Note 1: The amount of raised funds was the net amount after the total amount of raised funds by renewable corporation bondsthrough public issue deducting issuances cost (tax inclusive).
VI 2020 Annual Operating Performance ForecastWarning of a forecast loss on or a forecast significant year-on-year change in the 2020 annual net profit, as well as explanation ofwhy:
□ Applicable √ Not applicable
VII Significant Contracts Arising from the Company’s Ordinary Course of Business
□ Applicable √ Not applicable
VIII Cash Entrusted for Wealth Management
√ Applicable □ Not applicable
Unit: RMB’0,000
| Type | Funding source | Amount | Undue amount | Unrecovered overdue amount |
| Bank’s wealth management product and structured deposit | Self-funded | 716,300 | 329,937 | 0 |
| Total | 716,300 | 329,937 | 0 | |
High-risk wealth management transactions with a significant single amount, or with low security, low liquidity or no principalprotection:
√ Applicable □ Not applicable
Wealth management transactions with possible impairments including an expectedly unrecoverable principal:
□ Applicable √ Not applicable
IX Irregularities in the Provision of Guarantees
□ Applicable √ Not applicable
No such cases in the Reporting Period.
X Occupation of the Company’s Capital by the Controlling Shareholder or any of Its RelatedParties for Non-Operating Purposes
□ Applicable √ Not applicable
No such cases in the Reporting Period.
XI Communications with the Investment Community such as Researches, Inquiries and Interviews Received during the ReportingPeriod
√ Applicable □ Not applicable
| Date | Place | Way of communication | Type of communication party | Communication party | Major discussion content and information provided | Index to main information communicated |
| 1 September 2020 | Technology Innovation Centre and Meeting Room of the Company | One-site visit | Institutions | China Re Asset, China Post Securities, China Post Fund, China Yingli, BOC International Securities, ZTC, CITIC Securities, CITIC New Future Fund, CITIC Holdings, China Securities, China Fund, Zhong Ou AMC, CICC, AVIC Fund, Fortune Growth Captial, Changjiang Securities, Yinhua Fund, CGS, Galaxy AMC, Evalueserve, Yansheng Investment, Asia-Pacific P&C, Xingzheng Securities, Sinvo Fund, New China Fund, Southwest Securities, Minmetals Securities, Wanlian Securities, DayLing (Beijing) Investment Management, Tianhong Fund, Tian An Life, Taikang Management, Manulife Teda, Shenzhen Dongfangjunzheng Capitals, Social Security Fund, Shanghai Lengze Investment, Kingdom Capital, Credit Suisse Founder Securities, PICC, First Seafront Fund, Ping An Securities, Ping An Haiguo (Beijing) Management, Pengyang AMC, ABC Life, Minsheng Securities, Minsheng Royal Fund, Kaiyuan Securities, Genharmony, JT Asset, Greenwoods Asset, Jingjing Investment, Jiangxin Fund, CCB Principle, Harvest Fund, JYAH Asset, HSBC Jintrust, HSBC Securities, China Everwin Asset, Huaxi Securities, Huatai Securities, Huashang Fund, Huarong Securities, Huajin Kaiyuan, Hua Chuang Securities, Hongta Securities, Sequoia Capital, Union Asset, Guosen Securities, Guotai Junan, China Life AMP, Guosheng Securities, Guolian Securities, Gfund Management, Guohou AMC, Guodu Securities, GF Securities, GF Fund, Fengpei Investment, Fenghe Zhengqin, Founder Securities, Orient Securities, Orient Fund, Dong’an Investment, Tebon Securities, Damu Capital, Dajia Asset, Broad Fund, Beixin Ruifeng Fund, Wenboqisheng Investment, Tagee Asset Management, Starock Investment, Beijing Runda Sheng’an Asset Management, Beijing Huairang Asset Management, Beijing Richland Capital Management, Haiyan Capital Mangement, | 1. 2020 semi-annual performance of the Company and main situation of the industry; 2. Main operating information of the Company; 3. Innovations of technology and products; 4. Future strategy layout | For details, see www.cninfo.com.cn |
| Beijing Chenjun Asset Management, Beijing Baiquan Huizhong Investment, Macau Qixin Belt and Road Industrial Fund | ||||||
| 24 September 2020 | Teleconference | By phone | Institutions | Zundao Assets, ZKI Insurance, Chongqing Boyong Funds, China Re Asset, China Post Securities, China Post Life Insurance, China Post Funds, BOC Funds, BOC International Securities, BOC International, China Galaxy International, Generali China, Generali Asset, Zhongxuan Investment Management, CITIC Capital, CITIC Securities, China Securities, China Fund, CITIC Prudential, CITIC Prudential Fund, Zhongtai Securities, Zhong Rong Hui Xin Futures, Zhongrongding Investment, Zhong Ou Asset Management, CS Richland Asset, CICC Asset Management, CICC, Bank Of Beijing Scotiabank Asset Management, AVIC Fund, China Life Asset Management, PICC, CSIC Finance Company, FGC, Zheshang Securities, Zhejiang Yisheng Asset Management, China Merchants Fund, Changxin Fund, Changsheng Fund, Changjiang Securities, Changjiang Pension Insurance, Great Wall Securities, Great Wall Glory Securities, Yunshan Investment, Yuanhao Capital, COWIN, Winsure Capital, AIA Asset Management, Yourong Asset, Maxwealth Fund, Infore Capital, Yingda Securities, Yinhua Fund, China Galaxy Securities, Galaxy AMC, Flying Tiger, Evalueserve, Evalueserve, Nomura Securities Hong Kong, Nomura Orient International Securities, API P&C, Xunchang Investment, Xuanbu Investment, Industrial Securities Asset Management, Xingyin Fund, Industrial Securities, CIB Fund, Starlux Investments, Cinda Securities, Xinyuan Asset Management, Sinvo Fund, New Times Securities, New Power Capital, New China Assets Management, New China Asset, Xishan Capital, Southwest Securities, Tibet Eastmoney Fund, Western Securities, Western Leadbank Fund, Winning Ventures, Windsor Capital, Future Assets, Wanjia Asset, Tongtai AMC, Tongben Investment, China Nature Asset Management, Tiansun Investment, Tianhong Asset Management, Tianfeng Securities, Skywind International, Tianchong Capital, Tianan Life, Tianan Property Insurance, First-trust Fund, Taikang Asset Management, Manulife TEDA Fund, Taiping Asset, Taiping Pension, Timewise International Capital Corporation, Shunfeng Asset, Capital Securities, Mega Trust Investment, Rock Bay Investment, Shicheng Holding, Shenzhen Zhengyuan Investment, Shenzhen Xinran Asset Management, ShenZhen Wukong Investment, Shenzhen Spruces Capital, | 1. Main situation of the industry; 2. Main operating information of the Company; 3. The Company’s participation in industrial consolidation | For details, see www.cninfo.com.cn |
| Capital, Sherwood capital , RWC Partners, Q Fund Management, PAG, OPPO, Oppenheimer&Co , Octo Rivers AM, Oberweis Asset Mgt, Morgan Stanley, Mighty Divine, Inventio Capital, eFusion Capital, Cyber atlas capital, Bank of America , Aspex, Acuity knowledge partner | ||||||
| 25 September 2020 | Teleconference | By phone | Institutions | Orient Securities Asset Management | 1. Main situation of the industry; 2. Main operating information of the Company; 3. Innovations of technology and products; 4. Future strategy layout | For details, see www.cninfo.com.cn |
Part IV Financial StatementsI Financial Statements
1. Consolidated Balance Sheet
Prepared by BOE Technology Group Co., Ltd.
Unit: RMB
| Item | 30 September 2020 | 31 December 2019 |
| Current assets: | ||
| Monetary assets | 62,338,112,869.00 | 56,972,723,239.00 |
| Settlement reserve | 0.00 | 0.00 |
| Loans to other banks and financial institutions | 0.00 | 0.00 |
| Held-for-trading financial assets | 910,181,955.00 | 5,809,184,994.00 |
| Derivative financial assets | 0.00 | 0.00 |
| Notes receivable | 222,062,722.00 | 331,145,492.00 |
| Accounts receivable | 25,674,013,316.00 | 18,135,687,806.00 |
| Receivables financing | 0.00 | 0.00 |
| Prepayments | 726,343,577.00 | 626,985,706.00 |
| Premiums receivable | 0.00 | 0.00 |
| Reinsurance receivables | 0.00 | 0.00 |
| Receivable reinsurance contract reserve | 0.00 | 0.00 |
| Other receivables | 788,820,007.00 | 706,171,112.00 |
| Including: Interest receivable | 280,235,641.00 | 215,977,831.00 |
| Dividends receivable | 1,842,137.00 | 0.00 |
| Financial assets purchased under resale agreements | 0.00 | 0.00 |
| Inventories | 16,265,621,739.00 | 12,396,194,762.00 |
| Contract assets | 0.00 | 0.00 |
| Assets held for sale | 186,518,605.00 | 173,910,820.00 |
| Current portion of non-current assets | 0.00 | 0.00 |
| Other current assets | 9,690,494,284.00 | 9,296,637,067.00 |
| Total current assets | 116,802,169,074.00 | 104,448,640,998.00 |
| Non-current assets: | ||
| Loans and advances to customers | 0.00 | 0.00 |
| Debt investments | 0.00 | 0.00 |
| Other debt investments | 0.00 | 0.00 |
| Long-term receivables | 0.00 | 0.00 |
| Long-term equity investments | 3,406,202,480.00 | 2,718,037,934.00 |
| Investments in other equity instruments | 523,401,702.00 | 632,076,647.00 |
| Other non-current financial assets | 0.00 | 0.00 |
| Investment property | 1,208,688,308.00 | 1,241,242,850.00 |
| Fixed assets | 167,494,871,440.00 | 125,786,241,938.00 |
| Construction in progress | 53,901,883,532.00 | 87,376,782,527.00 |
| Productive living assets | 0.00 | 0.00 |
| Oil and gas assets | 0.00 | 0.00 |
| Right-of-use assets | 0.00 | 0.00 |
| Intangible assets | 7,637,768,665.00 | 7,416,416,829.00 |
| Development costs | 0.00 | 0.00 |
| Goodwill | 707,603,856.00 | 707,603,856.00 |
| Long-term prepaid expense | 314,054,561.00 | 345,424,409.00 |
| Deferred income tax assets | 211,838,738.00 | 248,153,761.00 |
| Other non-current assets | 10,959,518,300.00 | 9,491,581,559.00 |
| Total non-current assets | 246,365,831,582.00 | 235,963,562,310.00 |
| Total assets | 363,168,000,656.00 | 340,412,203,308.00 |
| Current liabilities: | ||
| Short-term borrowings | 4,240,667,951.00 | 6,366,717,121.00 |
| Borrowings from the central bank | 0.00 | 0.00 |
| Loans from other banks and financial institutions | 0.00 | 0.00 |
| Held-for-trading financial liabilities | 0.00 | 0.00 |
| Derivative financial liabilities | 0.00 | 0.00 |
| Notes payable | 727,826,836.00 | 2,028,917,980.00 |
| Accounts payable | 25,347,767,660.00 | 21,183,567,553.00 |
| Advances from customers | 2,733,395,727.00 | 1,260,732,785.00 |
| Contract liabilities | 2,421,726,639.00 | 0.00 |
| Financial assets sold under repurchase agreements | 0.00 | 0.00 |
| Customer deposits and deposits from other banks and financial institutions | 0.00 | 0.00 |
| Payables for acting trading of securities | 0.00 | 0.00 |
| Payables for underwriting of securities | 0.00 | 0.00 |
| Employee benefits payable | 3,256,850,569.00 | 2,373,745,454.00 |
| Taxes and levies payable | 1,228,361,027.00 | 730,996,129.00 |
| Other payables | 24,725,257,378.00 | 24,570,589,610.00 |
| Including: Interest payable | 489,675,323.00 | 721,325,540.00 |
| Dividends payable | 6,451,171.00 | 14,568,242.00 |
| Fees and commissions payable | 0.00 | 0.00 |
| Reinsurance payables | 0.00 | 0.00 |
| Liabilities directly associated with assets held for sale | 0.00 | 0.00 |
| Current portion of non-current liabilities | 24,916,426,330.00 | 18,849,281,019.00 |
| Other current liabilities | 1,671,444,463.00 | 1,013,738,515.00 |
| Total current liabilities | 91,269,724,580.00 | 78,378,286,166.00 |
| Non-current liabilities: | ||
| Insurance contract reserve | 0.00 | 0.00 |
| Long-term borrowings | 107,860,877,820.00 | 107,730,595,615.00 |
| Bonds payable | 408,394,604.00 | 387,878,384.00 |
| Including: Preference shares | 0.00 | 0.00 |
| Perpetual bonds | 0.00 | 0.00 |
| Lease liabilities | 0.00 | 0.00 |
| Long-term payables | 1,006,027,147.00 | 984,520,824.00 |
| Long-term employee benefits payable | 0.00 | 0.00 |
| Provisions | 0.00 | 16,457,010.00 |
| Deferred income | 2,208,095,551.00 | 2,204,400,566.00 |
| Deferred income tax liabilities | 1,458,976,736.00 | 1,451,825,357.00 |
| Other non-current liabilities | 5,407,861,433.00 | 8,200,542,412.00 |
| Total non-current liabilities | 118,350,233,291.00 | 120,976,220,168.00 |
| Total liabilities | 209,619,957,871.00 | 199,354,506,334.00 |
| Owners’ equity: | ||
| Share capital | 34,798,398,763.00 | 34,798,398,763.00 |
| Other equity instruments | 14,332,500,989.00 | 8,013,156,853.00 |
| Including: Preference shares | 0.00 | 0.00 |
| Perpetual bonds | 14,332,500,989.00 | 8,013,156,853.00 |
| Capital reserves | 38,424,066,128.00 | 38,353,242,364.00 |
| Less: Treasury stock | 1,998,774,694.00 | 0.00 |
| Other comprehensive income | 234,328,204.00 | -4,566,639.00 |
| Specific reserve | 0.00 | 0.00 |
| Surplus reserves | 2,050,045,823.00 | 1,516,139,709.00 |
| General reserve | 0.00 | 0.00 |
| Retained earnings | 13,268,663,702.00 | 12,381,758,005.00 |
| Total equity attributable to owners of the Company as the parent | 101,109,228,915.00 | 95,058,129,055.00 |
| Non-controlling interests | 52,438,813,870.00 | 45,999,567,919.00 |
| Total owners’ equity | 153,548,042,785.00 | 141,057,696,974.00 |
| Total liabilities and owners’ equity | 363,168,000,656.00 | 340,412,203,308.00 |
Legal representative: Chen Yanshun President of the Company’s Execution Committee: Liu XiaodongChief Financial Officer: Sun Yun Head of the Company’s Financial Department: Yang Xiaoping
2. Balance Sheet of the Company as the Parent
Unit: RMB
| Item | 30 September 2020 | 31 December 2019 |
| Current assets: | ||
| Monetary assets | 1,755,721,852.00 | 3,680,770,048.00 |
| Held-for-trading financial assets | 0.00 | 0.00 |
| Derivative financial assets | 0.00 | 0.00 |
| Notes receivable | 82,626,373.00 | 84,230,531.00 |
| Accounts receivable | 5,367,620,145.00 | 646,533,115.00 |
| Receivables financing | 0.00 | 0.00 |
| Prepayments | 129,949,476.00 | 77,682,682.00 |
| Other receivables | 6,938,500,983.00 | 4,827,398,094.00 |
| Including: Interest receivable | 7,476,236.00 | 11,884,080.00 |
| Dividends receivable | 1,842,137.00 | 941,634,611.00 |
| Inventories | 17,252,710.00 | 13,935,401.00 |
| Contract assets | 0.00 | 0.00 |
| Assets held for sale | 0.00 | 0.00 |
| Current portion of non-current assets | 0.00 | 0.00 |
| Other current assets | 34,523,408.00 | 109,497,897.00 |
| Total current assets | 14,326,194,947.00 | 9,440,047,768.00 |
| Non-current assets: | ||
| Debt investments | 0.00 | 0.00 |
| Other debt investments | 0.00 | 0.00 |
| Long-term receivables | 0.00 | 0.00 |
| Long-term equity investments | 170,317,896,310.00 | 159,389,864,760.00 |
| Investments in other equity instruments | 81,605,291.00 | 79,405,724.00 |
| Other non-current financial assets | 0.00 | 0.00 |
| Investment property | 273,269,859.00 | 280,525,802.00 |
| Fixed assets | 1,005,428,571.00 | 949,104,308.00 |
| Construction in progress | 321,566,189.00 | 358,933,667.00 |
| Productive living assets | 0.00 | 0.00 |
| Oil and gas assets | 0.00 | 0.00 |
| Right-of-use assets | 0.00 | 0.00 |
| Intangible assets | 1,411,796,919.00 | 1,493,632,264.00 |
| Development costs | 0.00 | 0.00 |
| Goodwill | 0.00 | 0.00 |
| Long-term prepaid expense | 109,748,011.00 | 109,216,398.00 |
| Deferred income tax assets | 0.00 | 360,268,466.00 |
| Other non-current assets | 158,958,229.00 | 162,516,190.00 |
| Total non-current assets | 173,680,269,379.00 | 163,183,467,579.00 |
| Total assets | 188,006,464,326.00 | 172,623,515,347.00 |
| Current liabilities: | ||
| Short-term borrowings | 0.00 | 1,220,000,000.00 |
| Held-for-trading financial liabilities | 0.00 | 0.00 |
| Derivative financial liabilities | 0.00 | 0.00 |
| Notes payable | 0.00 | 0.00 |
| Accounts payable | 32,053,718.00 | 27,919,341.00 |
| Advances from customers | 15,745,900.00 | 2,117,568,995.00 |
| Contract liabilities | 96,762,330.00 | 0.00 |
| Employee benefits payable | 165,970,658.00 | 252,206,075.00 |
| Taxes and levies payable | 201,343,936.00 | 107,287,957.00 |
| Other payables | 2,946,375,972.00 | 5,260,470,974.00 |
| Including: Interest payable | 388,888,429.00 | 95,859,219.00 |
| Dividends payable | 6,451,171.00 | 6,451,171.00 |
| Liabilities directly associated with assets held for sale | 0.00 | 0.00 |
| Current portion of non-current liabilities | 14,600,440,787.00 | 5,490,440,787.00 |
| Other current liabilities | 13,141.00 | 1,423,133.00 |
| Total current liabilities | 18,058,706,442.00 | 14,477,317,262.00 |
| Non-current liabilities: | ||
| Long-term borrowings | 28,800,701,574.00 | 33,310,701,574.00 |
| Bonds payable | 0.00 | 0.00 |
| Including: Preference shares | 0.00 | 0.00 |
| Perpetual bonds | 0.00 | 0.00 |
| Lease liabilities | 0.00 | 0.00 |
| Long-term payables | 0.00 | 0.00 |
| Long-term employee benefits payable | 0.00 | 0.00 |
| Provisions | 0.00 | 0.00 |
| Deferred income | 3,855,781,467.00 | 4,627,393,256.00 |
| Deferred income tax liabilities | 582,248,729.00 | 0.00 |
| Other non-current liabilities | 39,076,661,805.00 | 33,297,240,830.00 |
| Total non-current liabilities | 72,315,393,575.00 | 71,235,335,660.00 |
| Total liabilities | 90,374,100,017.00 | 85,712,652,922.00 |
| Owners’ equity: | ||
| Share capital | 34,798,398,763.00 | 34,798,398,763.00 |
| Other equity instruments | 14,332,500,989.00 | 8,013,156,853.00 |
| Including: Preference shares | 0.00 | 0.00 |
| Perpetual bonds | 14,332,500,989.00 | 8,013,156,853.00 |
| Capital reserves | 37,610,180,927.00 | 37,608,039,685.00 |
| Less: Treasury stock | 1,998,774,694.00 | 0.00 |
| Other comprehensive income | 376,827,376.00 | 193,638,576.00 |
| Specific reserve | 0.00 | 0.00 |
| Surplus reserves | 2,050,045,823.00 | 1,516,139,709.00 |
| Retained earnings | 10,463,185,125.00 | 4,781,488,839.00 |
| Total owners’ equity | 97,632,364,309.00 | 86,910,862,425.00 |
| Total liabilities and owners’ equity | 188,006,464,326.00 | 172,623,515,347.00 |
3. Consolidated Income Statement for Q3
Unit: RMB
| Item | Q3 2020 | Q3 2019 |
| 1. Revenues | 40,820,898,656.00 | 30,682,823,546.00 |
| Including: Operating revenue | 40,820,898,656.00 | 30,682,823,546.00 |
| Interest income | 0.00 | 0.00 |
| Insurance premium income | 0.00 | 0.00 |
| Fee and commission income | 0.00 | 0.00 |
| 2. Costs and expenses | 39,348,855,319.00 | 31,097,785,874.00 |
| Including: Cost of sales | 33,224,749,252.00 | 27,057,692,052.00 |
| Interest expense | 0.00 | 0.00 |
| Fee and commission expense | 0.00 | 0.00 |
| Surrenders | 0.00 | 0.00 |
| Net insurance claims paid | 0.00 | 0.00 |
| Net amount provided as insurance contract reserve | 0.00 | 0.00 |
| Expenditure on policy dividends | 0.00 | 0.00 |
| Reinsurance premium expense | 0.00 | 0.00 |
| Taxes and levies | 242,449,005.00 | 214,937,325.00 |
| Selling expense | 1,018,598,325.00 | 631,659,702.00 |
| Administrative expense | 2,134,275,006.00 | 1,371,592,653.00 |
| R&D expense | 2,006,550,087.00 | 1,607,788,491.00 |
| Finance costs | 722,233,644.00 | 214,115,651.00 |
| Including: Interest expense | 918,134,261.00 | 64,529,664.00 |
| Interest income | 222,433,818.00 | 238,386,295.00 |
| Add: Other income | 337,434,367.00 | 274,484,937.00 |
| Return on investment (“-” for loss) | 136,550,419.00 | 62,422,694.00 |
| Including: Share of profit or loss of joint ventures and associates | 111,498,368.00 | 40,210,928.00 |
| Income from the derecognition of financial assets at amortized cost (“-” for loss) | 0.00 | 0.00 |
| Exchange gain (“-” for loss) | 0.00 | 0.00 |
| Net gain on exposure hedges (“-” for loss) | 0.00 | 0.00 |
| Gain on changes in fair value (“-” for loss) | 2,984,227.00 | 75,790,778.00 |
| Credit impairment loss (“-” for loss) | 1,666,681.00 | -811,324.00 |
| Asset impairment loss (“-” for loss) | -137,129,208.00 | -584,698,398.00 |
| Asset disposal income (“-” for loss) | 6,425,567.00 | -599,481.00 |
| 3. Operating profit (“-” for loss) | 1,819,975,390.00 | -588,373,122.00 |
| Add: Non-operating income | 39,423,897.00 | 28,303,377.00 |
| Less: Non-operating expense | 22,982,486.00 | 18,339,210.00 |
| 4. Gross profit (“-” for loss) | 1,836,416,801.00 | -578,408,955.00 |
| Less: Income tax expense | 446,300,763.00 | 218,461,783.00 |
| 5. Net profit (“-” for net loss) | 1,390,116,038.00 | -796,870,738.00 |
| 5.1 By operating continuity | ||
| 5.1.1 Net profit from continuing operations (“-” for net loss) | 1,390,116,038.00 | -796,870,738.00 |
| 5.1.2 Net profit from discontinued operations (“-” for net loss) | 0.00 | 0.00 |
| 5.2 By ownership | ||
| 5.2.1 Net profit attributable to owners of the Company as the parent | 1,340,387,777.00 | 183,791,110.00 |
| 5.2.1 Net profit attributable to non-controlling interests | 49,728,261.00 | -980,661,848.00 |
| 6. Other comprehensive income, net of tax | 5,048,362.00 | 40,095,872.00 |
| Attributable to owners of the Company as the parent | 24,264,521.00 | 27,776,614.00 |
| 6.1 Items that will not be reclassified to profit or loss | -29,133,661.00 | -23,120,769.00 |
| 6.1.1 Changes caused by remeasurements on defined benefit schemes | 0.00 | 0.00 |
| 6.1.2 Other comprehensive income that will not be reclassified to profit or loss under the equity method | -17,087,280.00 | 0.00 |
| 6.1.3 Changes in the fair value of investments in other equity instruments | -12,046,381.00 | -23,120,769.00 |
| 6.1.4 Changes in the fair value arising from changes in own credit risk | 0.00 | 0.00 |
| 6.1.5 Other | 0.00 | 0.00 |
| 6.2 Items that will be reclassified to profit or loss | 53,398,182.00 | 50,897,383.00 |
| 6.2.1 Other comprehensive income that will be reclassified to profit or loss under the equity method | 0.00 | 0.00 |
| 6.2.2 Changes in the fair value of other debt investments | 0.00 | 0.00 |
| 6.2.3 Other comprehensive income arising from the reclassification of financial assets | 0.00 | 0.00 |
| 6.2.4 Credit impairment allowance for other debt investments | 0.00 | 0.00 |
| 6.2.5 Reserve for cash flow hedges | 0.00 | 0.00 |
| 6.2.6 Differences arising from the translation of foreign currency-denominated financial statements | 53,398,182.00 | 50,897,383.00 |
| 6.2.7 Other | 0.00 | 0.00 |
| Attributable to non-controlling interests | -19,216,159.00 | 12,319,258.00 |
| 7. Total comprehensive income | 1,395,164,400.00 | -756,774,866.00 |
| Attributable to owners of the Company as the parent | 1,364,652,298.00 | 211,567,724.00 |
| Attributable to non-controlling interests | 30,512,102.00 | -968,342,590.00 |
| 8. Earnings per share | ||
| 8.1 Basic earnings per share | 0.035 | 0.005 |
| 8.2 Diluted earnings per share | 0.035 | 0.005 |
Where business combinations under common control occurred in the current period, the net profit achieved by the acquirees beforethe combinations was RMB0.00, with the amount for the same period of last year being RMB0.00.Legal representative: Chen Yanshun President of the Company’s Execution Committee: Liu XiaodongChief Financial Officer: Sun Yun Head of the Company’s Financial Department: Yang Xiaoping
4. Income Statement of the Company as the Parent for Q3
Unit: RMB
| Item | Q3 2020 | Q3 2019 |
| 1. Operating revenue | 1,653,837,063.00 | 804,092,949.00 |
| Less: Cost of sales | 3,502,515.00 | 4,639,853.00 |
| Taxes and levies | 8,311,911.00 | 13,328,825.00 |
| Selling expense | 0.00 | 0.00 |
| Administrative expense | 150,023,573.00 | 177,461,557.00 |
| R&D expense | 458,683,338.00 | 562,250,371.00 |
| Finance costs | 230,073,090.00 | 247,532,655.00 |
| Including: Interest expense | 240,835,556.00 | 241,987,314.00 |
| Interest income | 4,321,863.00 | 6,493,528.00 |
| Add: Other income | 232,823,147.00 | 234,796,640.00 |
| Return on investment (“-” for loss) | 112,314,671.00 | 40,393,087.00 |
| Including: Share of profit or loss of joint ventures and associates | 112,314,666.00 | 40,210,928.00 |
| Income from the derecognition of financial assets at amortized cost (“-” for loss) | 0.00 | 0.00 |
| Net gain on exposure hedges (“-” for loss) | 0.00 | 0.00 |
| Gain on changes in fair value (“-” for loss) | 0.00 | 0.00 |
| Credit impairment loss (“-” for loss) | -4,732,644.00 | 0.00 |
| Asset impairment loss (“-” for loss) | 0.00 | 0.00 |
| Asset disposal income (“-” for loss) | 0.00 | 0.00 |
| 2. Operating profit (“-” for loss) | 1,143,647,810.00 | 74,069,415.00 |
| Add: Non-operating income | 1,243,486.00 | 127,852.00 |
| Less: Non-operating expense | 7,169,314.00 | 126,852.00 |
| 3. Gross profit (“-” for loss) | 1,137,721,982.00 | 74,070,415.00 |
| Less: Income tax expense | 172,199,203.00 | 20,460,727.00 |
| 4. Net profit (“-” for net loss) | 965,522,779.00 | 53,609,688.00 |
| 4.1 Net profit from continuing operations (“-” for net loss) | 965,522,779.00 | 53,609,688.00 |
| 4.2 Net profit from discontinued operations (“-” for net loss) | 0.00 | 0.00 |
| 5. Other comprehensive income, net of tax | -23,280,434.00 | 17,375,934.00 |
| 5.1 Items that will not be reclassified to profit or loss | -23,280,434.00 | 17,375,934.00 |
| 5.1.1 Changes caused by remeasurements on defined benefit schemes | 0.00 | 0.00 |
| 5.1.2 Other comprehensive income that will not be reclassified to profit or loss under the equity method | -17,087,279.00 | 0.00 |
| 5.1.3 Changes in the fair value of investments in other equity instruments | -6,193,155.00 | 17,375,934.00 |
| 5.1.4 Changes in the fair value arising from changes in own credit risk | 0.00 | 0.00 |
| 5.1.5 Other | 0.00 | 0.00 |
| 5.2 Items that will be reclassified to profit or loss | 0.00 | 0.00 |
| 5.2.1 Other comprehensive income that will be reclassified to profit or loss under the equity method | 0.00 | 0.00 |
| 5.2.2 Changes in the fair value of other debt investments | 0.00 | 0.00 |
| 5.2.3 Other comprehensive income arising from the reclassification of financial assets | 0.00 | 0.00 |
| 5.2.4 Credit impairment allowance for other debt investments | 0.00 | 0.00 |
| 5.2.5 Reserve for cash flow hedges | 0.00 | 0.00 |
| 5.2.6 Differences arising from the translation of foreign currency-denominated financial statements | 0.00 | 0.00 |
| 5.2.7 Other | 0.00 | 0.00 |
| 6. Total comprehensive income | 942,242,345.00 | 70,985,622.00 |
| 7. Earnings per share | ||
| 7.1 Basic earnings per share | 0.0240 | 0.0015 |
| 7.2 Diluted earnings per share | 0.0240 | 0.0015 |
5. Consolidated Income Statement for Q1~Q3
Unit: RMB
| Item | Q1~Q3 2020 | Q1~Q3 2019 |
| 1. Revenues | 101,687,972,162.00 | 85,722,032,233.00 |
| Including: Operating revenue | 101,687,972,162.00 | 85,722,032,233.00 |
| Interest income | 0.00 | 0.00 |
| Insurance premium income | 0.00 | 0.00 |
| Fee and commission income | 0.00 | 0.00 |
| 2. Costs and expenses | 99,548,275,631.00 | 84,988,854,900.00 |
| Including: Cost of sales | 84,494,340,361.00 | 72,870,025,283.00 |
| Interest expense | 0.00 | 0.00 |
| Fee and commission expense | 0.00 | 0.00 |
| Surrenders | 0.00 | 0.00 |
| Net insurance claims paid | 0.00 | 0.00 |
| Net amount provided as insurance contract reserve | 0.00 | 0.00 |
| Expenditure on policy dividends | 0.00 | 0.00 |
| Reinsurance premium expense | 0.00 | 0.00 |
| Taxes and levies | 755,063,118.00 | 639,790,732.00 |
| Selling expense | 2,469,423,809.00 | 1,996,946,988.00 |
| Administrative expense | 4,651,871,656.00 | 3,568,776,147.00 |
| R&D expense | 5,250,983,185.00 | 4,532,446,727.00 |
| Finance costs | 1,926,593,502.00 | 1,380,869,023.00 |
| Including: Interest expense | 2,416,222,511.00 | 1,600,091,473.00 |
| Interest income | 644,111,510.00 | 637,209,152.00 |
| Add: Other income | 1,862,952,382.00 | 1,392,437,864.00 |
| Return on investment (“-” for loss) | 151,691,886.00 | 75,988,065.00 |
| Including: Share of profit or loss of joint ventures and associates | 83,850,206.00 | 23,638,967.00 |
| Income from the derecognition of financial assets at amortized cost (“-” for loss) | 0.00 | 0.00 |
| Exchange gain (“-” for loss) | 0.00 | 0.00 |
| Net gain on exposure hedges (“-” for loss) | 0.00 | 0.00 |
| Gain on changes in fair value (“-” for loss) | 22,707,526.00 | 131,456,933.00 |
| Credit impairment loss (“-” for loss) | 2,472,594.00 | -21,041,769.00 |
| Asset impairment loss (“-” for loss) | -1,780,410,418.00 | -1,182,805,265.00 |
| Asset disposal income (“-” for loss) | 18,082,818.00 | -225,802.00 |
| 3. Operating profit (“-” for loss) | 2,417,193,319.00 | 1,128,987,359.00 |
| Add: Non-operating income | 91,617,388.00 | 124,646,909.00 |
| Less: Non-operating expense | 55,742,031.00 | 30,187,550.00 |
| 4. Gross profit (“-” for loss) | 2,453,068,676.00 | 1,223,446,718.00 |
| Less: Income tax expense | 942,107,787.00 | 892,236,824.00 |
| 5. Net profit (“-” for net loss) | 1,510,960,889.00 | 331,209,894.00 |
| 5.1 By operating continuity | ||
| 5.1.1 Net profit from continuing operations (“-” for net loss) | 1,510,960,889.00 | 331,209,894.00 |
| 5.1.2 Net profit from discontinued operations (“-” for net loss) | 0.00 | 0.00 |
| 5.2 By ownership | ||
| 5.2.1 Net profit attributable to owners of the Company as the parent | 2,475,838,102.00 | 1,852,239,559.00 |
| 5.2.1 Net profit attributable to non-controlling interests | -964,877,213.00 | -1,521,029,665.00 |
| 6. Other comprehensive income, net of tax | 232,016,469.00 | 88,992,377.00 |
| Attributable to owners of the Company as the parent | 231,265,568.00 | 75,908,403.00 |
| 6.1 Items that will not be reclassified to profit or loss | 142,031,502.00 | -46,727,821.00 |
| 6.1.1 Changes caused by remeasurements on defined benefit schemes | 0.00 | 0.00 |
| 6.1.2 Other comprehensive income that will not be reclassified to profit or loss under the equity method | 181,319,168.00 | 0.00 |
| 6.1.3 Changes in the fair value of investments in other equity instruments | -39,287,666.00 | -46,727,821.00 |
| 6.1.4 Changes in the fair value arising from changes in own credit risk | 0.00 | 0.00 |
| 6.1.5 Other | 0.00 | 0.00 |
| 6.2 Items that will be reclassified to profit or loss | 89,234,066.00 | 122,636,224.00 |
| 6.2.1 Other comprehensive income that will be reclassified to profit or loss under the equity method | 0.00 | 175,359,777.00 |
| 6.2.2 Changes in the fair value of other debt investments | 0.00 | 0.00 |
| 6.2.3 Other comprehensive income arising from the reclassification of financial assets | 0.00 | 0.00 |
| 6.2.4 Credit impairment allowance for other debt investments | 0.00 | 0.00 |
| 6.2.5 Reserve for cash flow hedges | 0.00 | 0.00 |
| 6.2.6 Differences arising from the translation of foreign currency-denominated financial statements | 89,234,066.00 | -52,723,553.00 |
| 6.2.7 Other | 0.00 | 0.00 |
| Attributable to non-controlling interests | 750,901.00 | 13,083,974.00 |
| 7. Total comprehensive income | 1,742,977,358.00 | 420,202,271.00 |
| Attributable to owners of the Company as the parent | 2,707,103,670.00 | 1,928,147,962.00 |
| Attributable to non-controlling interests | -964,126,312.00 | -1,507,945,691.00 |
| 8. Earnings per share | ||
| 8.1 Basic earnings per share | 0.061 | 0.053 |
| 8.2 Diluted earnings per share | 0.061 | 0.053 |
Where business combinations under common control occurred in the current period, the net profit achieved by the acquirees beforethe combinations was RMB0.00, with the amount for the same period of last year being RMB0.00 .Legal representative: Chen Yanshun President of the Company’s Execution Committee: Liu XiaodongChief Financial Officer: Sun Yun Head of the Company’s Financial Department: Yang Xiaoping
6. Income Statement of the Company as the Parent for Q1~Q3
Unit: RMB
| Item | Q1~Q3 2020 | Q1~Q3 2019 |
| 1. Operating revenue | 2,943,720,389.00 | 3,693,788,781.00 |
| Less: Cost of sales | 11,128,849.00 | 13,866,441.00 |
| Taxes and levies | 25,460,327.00 | 32,091,950.00 |
| Selling expense | 0.00 | 0.00 |
| Administrative expense | 456,606,140.00 | 480,568,050.00 |
| R&D expense | 1,301,880,122.00 | 1,496,046,336.00 |
| Finance costs | 717,670,122.00 | 737,047,649.00 |
| Including: Interest expense | 741,798,281.00 | 746,772,224.00 |
| Interest income | 20,741,029.00 | 24,854,626.00 |
| Add: Other income | 737,580,146.00 | 702,776,927.00 |
| Return on investment (“-” for loss) | 953,122,404.00 | 832,587,366.00 |
| Including: Share of profit or loss of joint ventures and associates | 101,280,267.00 | 23,691,240.00 |
| Income from the derecognition of financial assets at amortized cost (“-” for loss) | 0.00 | 0.00 |
| Net gain on exposure hedges (“-” for loss) | 0.00 | 0.00 |
| Gain on changes in fair value (“-” for loss) | 0.00 | 0.00 |
| Credit impairment loss (“-” for loss) | -7,391,723.00 | -7,044,401.00 |
| Asset impairment loss (“-” for loss) | 0.00 | 0.00 |
| Asset disposal income (“-” for loss) | 0.00 | 0.00 |
| 2. Operating profit (“-” for loss) | 2,114,285,656.00 | 2,462,488,247.00 |
| Add: Non-operating income | 5,378,172.00 | 2,575,137.00 |
| Less: Non-operating expense | 7,362,084.00 | 975,890.00 |
| 3. Gross profit (“-” for loss) | 2,112,301,744.00 | 2,464,087,494.00 |
| Less: Income tax expense | 188,363,469.00 | 305,734,696.00 |
| 4. Net profit (“-” for net loss) | 1,923,938,275.00 | 2,158,352,798.00 |
| 4.1 Net profit from continuing operations (“-” for net loss) | 1,923,938,275.00 | 2,158,352,798.00 |
| 4.2 Net profit from discontinued operations (“-” for net loss) | 0.00 | 0.00 |
| 5. Other comprehensive income, net of tax | 183,188,800.00 | 202,267,125.00 |
| 5.1 Items that will not be reclassified to profit or loss | 183,188,800.00 | 26,907,348.00 |
| 5.1.1 Changes caused by remeasurements on defined benefit schemes | 0.00 | 0.00 |
| 5.1.2 Other comprehensive income that will not be reclassified to profit or loss under the equity method | 181,319,169.00 | 0.00 |
| 5.1.3 Changes in the fair value of investments in other equity instruments | 1,869,631.00 | 26,907,348.00 |
| 5.1.4 Changes in the fair value arising from changes in own credit risk | 0.00 | 0.00 |
| 5.1.5 Other | 0.00 | 0.00 |
| 5.2 Items that will be reclassified to profit or loss | 0.00 | 175,359,777.00 |
| 5.2.1 Other comprehensive income that will be reclassified to profit or loss under the equity method | 0.00 | 175,359,777.00 |
| 5.2.2 Changes in the fair value of other debt investments | 0.00 | 0.00 |
| 5.2.3 Other comprehensive income arising from the reclassification of financial assets | 0.00 | 0.00 |
| 5.2.4 Credit impairment allowance for other debt investments | 0.00 | 0.00 |
| 5.2.5 Reserve for cash flow hedges | 0.00 | 0.00 |
| 5.2.6 Differences arising from the translation of foreign currency-denominated financial statements | 0.00 | 0.00 |
| 5.2.7 Other | 0.00 | 0.00 |
| 6. Total comprehensive income | 2,107,127,075.00 | 2,360,619,923.00 |
| 7. Earnings per share | ||
| 7.1 Basic earnings per share | 0.0452 | 0.0620 |
| 7.2 Diluted earnings per share | 0.0452 | 0.0620 |
7. Consolidated Cash Flow Statement for Q1~Q3
Unit: RMB
| Item | Q1~Q3 2020 | Q1~Q3 2019 |
| 1. Cash flows from operating activities: | ||
| Proceeds from sale of commodities and rendering of services | 106,805,169,135.00 | 90,795,247,871.00 |
| Net increase in customer deposits and deposits from other banks and financial institutions | 0.00 | 0.00 |
| Net increase in borrowings from the central bank | 0.00 | 0.00 |
| Net increase in loans from other financial institutions | 0.00 | 0.00 |
| Premiums received on original insurance contracts | 0.00 | 0.00 |
| Net proceeds from reinsurance | 0.00 | 0.00 |
| Net increase in deposits and investments of policy holders | 0.00 | 0.00 |
| Interest, fees and commissions received | 0.00 | 0.00 |
| Net increase in loans from other banks and financial institutions | 0.00 | 0.00 |
| Net increase in proceeds from repurchase transactions | 0.00 | 0.00 |
| Net proceeds from acting trading of securities | 0.00 | 0.00 |
| Tax and levy rebates | 8,233,724,253.00 | 5,540,874,958.00 |
| Cash generated from other operating activities | 4,032,552,930.00 | 5,004,310,777.00 |
| Subtotal of cash generated from operating activities | 119,071,446,318.00 | 101,340,433,606.00 |
| Payments for commodities and services | 80,674,328,209.00 | 68,399,418,986.00 |
| Net increase in loans and advances to customers | 0.00 | 0.00 |
| Net increase in deposits in the central bank and other banks and financial institutions | 0.00 | 0.00 |
| Payments for claims on original insurance contracts | 0.00 | 0.00 |
| Net increase in loans to other banks and financial institutions | 0.00 | 0.00 |
| Interest, fees and commissions paid | 0.00 | 0.00 |
| Policy dividends paid | 0.00 | 0.00 |
| Cash paid to and for employees | 8,403,254,858.00 | 8,056,691,079.00 |
| Taxes and levies paid | 2,365,112,815.00 | 2,790,851,592.00 |
| Cash used in other operating activities | 4,160,236,028.00 | 5,566,482,540.00 |
| Subtotal of cash used in operating activities | 95,602,931,910.00 | 84,813,444,197.00 |
| Net cash generated from/used in operating activities | 23,468,514,408.00 | 16,526,989,409.00 |
| 2. Cash flows from investing activities: | ||
| Proceeds from disinvestment | 17,966,529,908.00 | 26,937,918,625.00 |
| Return on investment | 104,230,363.00 | 341,466,867.00 |
| Net proceeds from the disposal of fixed assets, intangible assets and other long-lived assets | 23,052,445.00 | 33,905,351.00 |
| Net proceeds from the disposal of subsidiaries and other business units | 0.00 | 0.00 |
| Cash generated from other investing activities | 280,538,504.00 | 1,110,244,320.00 |
| Subtotal of cash generated from investing activities | 18,374,351,220.00 | 28,423,535,163.00 |
| Payments for the acquisition of fixed assets, intangible assets and other long-lived assets | 31,446,427,395.00 | 37,854,619,360.00 |
| Payments for investments | 14,555,472,385.00 | 24,285,645,875.00 |
| Net increase in pledged loans granted | 0.00 | 0.00 |
| Net payments for the acquisition of subsidiaries and other business units | 0.00 | 0.00 |
| Cash used in other investing activities | 1,842,907,614.00 | 81,359,067.00 |
| Subtotal of cash used in investing activities | 47,844,807,394.00 | 62,221,624,302.00 |
| Net cash generated from/used in investing activities | -29,470,456,174.00 | -33,798,089,139.00 |
| 3. Cash flows from financing activities: | ||
| Capital contributions received | 7,278,817,913.00 | 9,396,220,000.00 |
| Including: Capital contributions by non-controlling interests to subsidiaries | 7,278,817,913.00 | 9,396,220,000.00 |
| Borrowings received | 35,951,776,137.00 | 37,923,426,290.00 |
| Cash generated from other financing activities | 1,648,733,929.00 | 357,634,475.00 |
| Subtotal of cash generated from financing activities | 44,879,327,979.00 | 47,677,280,765.00 |
| Repayment of borrowings | 25,245,672,400.00 | 25,867,488,701.00 |
| Interest and dividends paid | 4,927,891,915.00 | 5,442,071,700.00 |
| Including: Dividends paid by subsidiaries to non-controlling interests | 86,783,362.00 | 36,394,420.00 |
| Cash used in other financing activities | 2,470,947,772.00 | 259,564,952.00 |
| Subtotal of cash used in financing activities | 32,644,512,087.00 | 31,569,125,353.00 |
| Net cash generated from/used in financing activities | 12,234,815,892.00 | 16,108,155,412.00 |
| 4. Effect of foreign exchange rates changes on cash and cash equivalents | -706,047,476.00 | 457,359,826.00 |
| 5. Net increase in cash and cash equivalents | 5,526,826,650.00 | -705,584,492.00 |
| Add: Cash and cash equivalents, beginning of the period | 50,270,321,573.00 | 43,350,696,520.00 |
| 6. Cash and cash equivalents, end of the period | 55,797,148,223.00 | 42,645,112,028.00 |
8. Cash Flow Statement of the Company as the Parent for Q1~Q3
Unit: RMB
| Item | Q1~Q3 2020 | Q1~Q3 2019 |
| 1. Cash flows from operating activities: |
| Proceeds from sale of commodities and rendering of services | 2,570,800,568.00 | 3,672,204,949.00 |
| Tax and levy rebates | 0.00 | 0.00 |
| Cash generated from other operating activities | 447,628,612.00 | 348,439,553.00 |
| Subtotal of cash generated from operating activities | 3,018,429,180.00 | 4,020,644,502.00 |
| Payments for commodities and services | 2,508,174,321.00 | 2,417,299,531.00 |
| Cash paid to and for employees | 697,128,994.00 | 911,369,102.00 |
| Taxes and levies paid | 258,568,704.00 | 662,913,180.00 |
| Cash used in other operating activities | 462,513,922.00 | 430,459,939.00 |
| Subtotal of cash used in operating activities | 3,926,385,941.00 | 4,422,041,752.00 |
| Net cash generated from/used in operating activities | -907,956,761.00 | -401,397,250.00 |
| 2. Cash flows from investing activities: | ||
| Proceeds from disinvestment | 264,150,877.00 | 366,360,000.00 |
| Return on investment | 870,939,834.00 | 638,155,513.00 |
| Net proceeds from the disposal of fixed assets, intangible assets and other long-lived assets | 12,261.00 | 740.00 |
| Net proceeds from the disposal of subsidiaries and other business units | 0.00 | 0.00 |
| Cash generated from other investing activities | 155,586,683.00 | 568,637,974.00 |
| Subtotal of cash generated from investing activities | 1,290,689,655.00 | 1,573,154,227.00 |
| Payments for the acquisition of fixed assets, intangible assets and other long-lived assets | 302,876,946.00 | 986,386,306.00 |
| Payments for investments | 13,679,441,750.00 | 6,011,944,700.00 |
| Net payments for the acquisition of subsidiaries and other business units | 0.00 | 0.00 |
| Cash used in other investing activities | 472,666,847.00 | 2,317,224,712.00 |
| Subtotal of cash used in investing activities | 14,454,985,543.00 | 9,315,555,718.00 |
| Net cash generated from/used in investing activities | -13,164,295,888.00 | -7,742,401,491.00 |
| 3. Cash flows from financing activities: | ||
| Capital contributions received | 0.00 | 0.00 |
| Borrowings received | 14,220,000,000.00 | 15,791,142,361.00 |
| Cash generated from other financing activities | 8,285,507,261.00 | 9,161,162,232.00 |
| Subtotal of cash generated from financing activities | 22,505,507,261.00 | 24,952,304,593.00 |
| Repayment of borrowings | 6,840,000,000.00 | 14,143,195,075.00 |
| Interest and dividends paid | 1,339,660,328.00 | 1,912,890,527.00 |
| Cash used in other financing activities | 2,184,060,000.00 | 3,201,796,768.00 |
| Subtotal of cash used in financing activities | 10,363,720,328.00 | 19,257,882,370.00 |
| Net cash generated from/used in financing activities | 12,141,786,933.00 | 5,694,422,223.00 |
| 4. Effect of foreign exchange rates changes on cash and cash equivalents | 5,417,520.00 | 1,907,767.00 |
| 5. Net increase in cash and cash equivalents | -1,925,048,196.00 | -2,447,468,751.00 |
| Add: Cash and cash equivalents, beginning of the period | 3,680,770,048.00 | 3,829,814,050.00 |
| 6. Cash and cash equivalents, end of the period | 1,755,721,852.00 | 1,382,345,299.00 |
II Adjustments to the Financial Statements
1. Adjustments to the Financial Statements at the Beginning of the First Execution Year (2020) of the NewAccounting Standards Governing Revenue and Leases
√ Applicable □ Not applicable
Whether the Company needs to adjust the items in balance sheet at the beginning of the year
√ Yes □ No
Consolidated Balance Sheet
Unit: RMB
| Item | 31 December 2019 | 1 January 2020 | Adjusted |
| Current assets: | |||
| Monetary assets | 56,972,723,239.00 | 56,972,723,239.00 | 0.00 |
| Settlement reserve | 0.00 | 0.00 | 0.00 |
| Loans to other banks and financial institutions | 0.00 | 0.00 | 0.00 |
| Held-for-trading financial assets | 5,809,184,994.00 | 5,809,184,994.00 | 0.00 |
| Derivative financial assets | 0.00 | 0.00 | 0.00 |
| Notes receivable | 331,145,492.00 | 331,145,492.00 | 0.00 |
| Accounts receivable | 18,135,687,806.00 | 18,170,971,650.00 | 35,283,844.00 |
| Receivables financing | 0.00 | 0.00 | 0.00 |
| Prepayments | 626,985,706.00 | 626,985,706.00 | 0.00 |
| Premiums receivable | 0.00 | 0.00 | 0.00 |
| Reinsurance receivables | 0.00 | 0.00 | 0.00 |
| Receivable reinsurance contract reserve | 0.00 | 0.00 | 0.00 |
| Other receivables | 706,171,112.00 | 706,171,112.00 | 0.00 |
| Including: Interest receivable | 215,977,831.00 | 215,977,831.00 | 0.00 |
| Dividends | 0.00 | 0.00 | 0.00 |
| receivable | |||
| Financial assets purchased under resale agreements | 0.00 | 0.00 | 0.00 |
| Inventories | 12,396,194,762.00 | 12,396,194,762.00 | 0.00 |
| Contract assets | 0.00 | 0.00 | 0.00 |
| Assets held for sale | 173,910,820.00 | 173,910,820.00 | 0.00 |
| Current portion of non-current assets | 0.00 | 0.00 | 0.00 |
| Other current assets | 9,296,637,067.00 | 9,330,892,119.00 | 34,255,052.00 |
| Total current assets | 104,448,640,998.00 | 104,518,179,894.00 | 69,538,896.00 |
| Non-current assets: | |||
| Loans and advances to customers | 0.00 | 0.00 | 0.00 |
| Debt investments | 0.00 | 0.00 | 0.00 |
| Other debt investments | 0.00 | 0.00 | 0.00 |
| Long-term receivables | 0.00 | 0.00 | 0.00 |
| Long-term equity investments | 2,718,037,934.00 | 2,718,037,934.00 | 0.00 |
| Investments in other equity instruments | 632,076,647.00 | 632,076,647.00 | 0.00 |
| Other non-current financial assets | 0.00 | 0.00 | 0.00 |
| Investment property | 1,241,242,850.00 | 1,241,242,850.00 | 0.00 |
| Fixed assets | 125,786,241,938.00 | 125,786,241,938.00 | 0.00 |
| Construction in progress | 87,376,782,527.00 | 87,376,782,527.00 | 0.00 |
| Productive living assets | 0.00 | 0.00 | 0.00 |
| Oil and gas assets | 0.00 | 0.00 | 0.00 |
| Right-of-use assets | 0.00 | 0.00 | 0.00 |
| Intangible assets | 7,416,416,829.00 | 7,416,416,829.00 | 0.00 |
| Development costs | 0.00 | 0.00 | 0.00 |
| Goodwill | 707,603,856.00 | 707,603,856.00 | 0.00 |
| Long-term prepaid expense | 345,424,409.00 | 345,424,409.00 | 0.00 |
| Deferred income tax assets | 248,153,761.00 | 182,880,117.00 | -65,273,644.00 |
| Other non-current assets | 9,491,581,559.00 | 9,491,581,559.00 | 0.00 |
| Total non-current assets | 235,963,562,310.00 | 235,898,288,666.00 | -65,273,644.00 |
| Total assets | 340,412,203,308.00 | 340,416,468,560.00 | 4,265,252.00 |
| Current liabilities: |
| Short-term borrowings | 6,366,717,121.00 | 6,366,717,121.00 | 0.00 |
| Borrowings from the central bank | 0.00 | 0.00 | 0.00 |
| Loans from other banks and financial institutions | 0.00 | 0.00 | 0.00 |
| Held-for-trading financial liabilities | 0.00 | 0.00 | 0.00 |
| Derivative financial liabilities | 0.00 | 0.00 | 0.00 |
| Notes payable | 2,028,917,980.00 | 2,028,917,980.00 | 0.00 |
| Accounts payable | 21,183,567,553.00 | 21,217,822,605.00 | 34,255,052.00 |
| Advances from customers | 1,260,732,785.00 | 297,330,727.00 | -963,402,058.00 |
| Contract liabilities | 0.00 | 963,402,058.00 | 963,402,058.00 |
| Financial assets sold under repurchase agreements | 0.00 | 0.00 | 0.00 |
| Customer deposits and deposits from other banks and financial institutions | 0.00 | 0.00 | 0.00 |
| Payables for acting trading of securities | 0.00 | 0.00 | 0.00 |
| Payables for underwriting of securities | 0.00 | 0.00 | 0.00 |
| Employee benefits payable | 2,373,745,454.00 | 2,373,745,454.00 | 0.00 |
| Taxes and levies payable | 730,996,129.00 | 730,996,129.00 | 0.00 |
| Other payables | 24,570,589,610.00 | 24,570,589,610.00 | 0.00 |
| Including: Interest payable | 721,325,540.00 | 721,325,540.00 | 0.00 |
| Dividends payable | 14,568,242.00 | 14,568,242.00 | 0.00 |
| Fees and commissions payable | 0.00 | 0.00 | 0.00 |
| Reinsurance payables | 0.00 | 0.00 | 0.00 |
| Liabilities directly associated with assets held for sale | 0.00 | 0.00 | 0.00 |
| Current portion of non-current liabilities | 18,849,281,019.00 | 18,849,281,019.00 | 0.00 |
| Other current liabilities | 1,013,738,515.00 | 1,049,022,359.00 | 35,283,844.00 |
| Total current liabilities | 78,378,286,166.00 | 78,447,825,062.00 | 69,538,896.00 |
| Non-current liabilities: | |||
| Insurance contract reserve | 0.00 | 0.00 | 0.00 |
| Long-term borrowings | 107,730,595,615.00 | 107,730,595,615.00 | 0.00 |
| Bonds payable | 387,878,384.00 | 387,878,384.00 | 0.00 |
| Including: Preference shares | 0.00 | 0.00 | 0.00 |
| Perpetual bonds | 0.00 | 0.00 | 0.00 |
| Lease liabilities | 0.00 | 0.00 | 0.00 |
| Long-term payables | 984,520,824.00 | 984,520,824.00 | 0.00 |
| Long-term employee benefits payable | 0.00 | 0.00 | 0.00 |
| Provisions | 16,457,010.00 | 16,457,010.00 | 0.00 |
| Deferred income | 2,204,400,566.00 | 2,204,400,566.00 | 0.00 |
| Deferred income tax liabilities | 1,451,825,357.00 | 1,386,551,713.00 | -65,273,644.00 |
| Other non-current liabilities | 8,200,542,412.00 | 8,200,542,412.00 | 0.00 |
| Total non-current liabilities | 120,976,220,168.00 | 120,910,946,524.00 | -65,273,644.00 |
| Total liabilities | 199,354,506,334.00 | 199,358,771,586.00 | 4,265,252.00 |
| Owners’ equity: | |||
| Share capital | 34,798,398,763.00 | 34,798,398,763.00 | 0.00 |
| Other equity instruments | 8,013,156,853.00 | 8,013,156,853.00 | 0.00 |
| Including: Preference shares | 0.00 | 0.00 | 0.00 |
| Perpetual bonds | 8,013,156,853.00 | 8,013,156,853.00 | 0.00 |
| Capital reserves | 38,353,242,364.00 | 38,353,242,364.00 | 0.00 |
| Less: Treasury stock | 0.00 | 0.00 | 0.00 |
| Other comprehensive income | -4,566,639.00 | -4,566,639.00 | 0.00 |
| Specific reserve | 0.00 | 0.00 | 0.00 |
| Surplus reserves | 1,516,139,709.00 | 2,050,045,823.00 | 533,906,114.00 |
| General reserve | 0.00 | 0.00 | 0.00 |
| Retained earnings | 12,381,758,005.00 | 11,847,851,891.00 | -533,906,114.00 |
| Total equity attributable to owners of the Company as the parent | 95,058,129,055.00 | 95,058,129,055.00 | 0.00 |
| Non-controlling interests | 45,999,567,919.00 | 45,999,567,919.00 | 0.00 |
| Total owners’ equity | 141,057,696,974.00 | 141,057,696,974.00 | 0.00 |
| Total liabilities and owners’ equity | 340,412,203,308.00 | 340,416,468,560.00 | 4,265,252.00 |
Note for adjustment:
The Group has implemented the Accounting Standards for Business Enterprises No. 14 - Revenue revised in 2017 from 1 January2020, and adjusted relevant items of the financial statements at the beginning of the first execution year according to therequirements of the standards.
Balance Sheet of the Company as the Parent
Unit: RMB
| Item | 31 December 2019 | 1 January 2020 | Adjusted |
| Current assets: | |||
| Monetary assets | 3,680,770,048.00 | 3,680,770,048.00 | 0.00 |
| Held-for-trading financial assets | 0.00 | 0.00 | 0.00 |
| Derivative financial assets | 0.00 | 0.00 | 0.00 |
| Notes receivable | 84,230,531.00 | 84,230,531.00 | 0.00 |
| Accounts receivable | 646,533,115.00 | 4,659,505,636.00 | 4,012,972,521.00 |
| Receivables financing | 0.00 | 0.00 | 0.00 |
| Prepayments | 77,682,682.00 | 77,682,682.00 | 0.00 |
| Other receivables | 4,827,398,094.00 | 4,827,398,094.00 | 0.00 |
| Including: Interest receivable | 11,884,080.00 | 11,884,080.00 | 0.00 |
| Dividends receivable | 941,634,611.00 | 941,634,611.00 | 0.00 |
| Inventories | 13,935,401.00 | 13,935,401.00 | 0.00 |
| Contract assets | 0.00 | 0.00 | 0.00 |
| Assets held for sale | 0.00 | 0.00 | 0.00 |
| Current portion of non-current assets | 0.00 | 0.00 | 0.00 |
| Other current assets | 109,497,897.00 | 109,497,897.00 | 0.00 |
| Total current assets | 9,440,047,768.00 | 13,453,020,289.00 | 4,012,972,521.00 |
| Non-current assets: | |||
| Debt investments | 0.00 | 0.00 | 0.00 |
| Other debt investments | 0.00 | 0.00 | 0.00 |
| Long-term receivables | 0.00 | 0.00 | 0.00 |
| Long-term equity investments | 159,389,864,760.00 | 159,389,864,760.00 | 0.00 |
| Investments in other equity instruments | 79,405,724.00 | 79,405,724.00 | 0.00 |
| Other non-current financial assets | 0.00 | 0.00 | 0.00 |
| Investment property | 280,525,802.00 | 280,525,802.00 | 0.00 |
| Fixed assets | 949,104,308.00 | 949,104,308.00 | 0.00 |
| Construction in progress | 358,933,667.00 | 358,933,667.00 | 0.00 |
| Productive living assets | 0.00 | 0.00 | 0.00 |
| Oil and gas assets | 0.00 | 0.00 | 0.00 |
| Right-of-use assets | 0.00 | 0.00 | 0.00 |
| Intangible assets | 1,493,632,264.00 | 1,493,632,264.00 | 0.00 |
| Development costs | 0.00 | 0.00 | 0.00 |
| Goodwill | 0.00 | 0.00 | 0.00 |
| Long-term prepaid expense | 109,216,398.00 | 109,216,398.00 | 0.00 |
| Deferred income tax assets | 360,268,466.00 | 0.00 | -360,268,466.00 |
| Other non-current assets | 162,516,190.00 | 162,516,190.00 | 0.00 |
| Total non-current assets | 163,183,467,579.00 | 162,823,199,113.00 | -360,268,466.00 |
| Total assets | 172,623,515,347.00 | 176,276,219,402.00 | 3,652,704,055.00 |
| Current liabilities: | |||
| Short-term borrowings | 1,220,000,000.00 | 1,220,000,000.00 | 0.00 |
| Held-for-trading financial liabilities | 0.00 | 0.00 | 0.00 |
| Derivative financial liabilities | 0.00 | 0.00 | 0.00 |
| Notes payable | 0.00 | 0.00 | 0.00 |
| Accounts payable | 27,919,341.00 | 27,919,341.00 | 0.00 |
| Advances from customers | 2,117,568,995.00 | -150,706,885.00 | -2,268,275,880.00 |
| Contract liabilities | 0.00 | 0.00 | 0.00 |
| Employee benefits payable | 252,206,075.00 | 252,206,075.00 | 0.00 |
| Taxes and levies payable | 107,287,957.00 | 107,287,957.00 | 0.00 |
| Other payables | 5,260,470,974.00 | 5,260,470,974.00 | 0.00 |
| Including: Interest payable | 95,859,219.00 | 95,859,219.00 | 0.00 |
| Dividends payable | 6,451,171.00 | 6,451,171.00 | 0.00 |
| Liabilities directly associated with assets held for sale | 0.00 | 0.00 | 0.00 |
| Current portion of non-current liabilities | 5,490,440,787.00 | 5,490,440,787.00 | 0.00 |
| Other current liabilities | 1,423,133.00 | 1,423,133.00 | 0.00 |
| Total current liabilities | 14,477,317,262.00 | 12,209,041,382.00 | -2,268,275,880.00 |
| Non-current liabilities: |
| Long-term borrowings | 33,310,701,574.00 | 33,310,701,574.00 | 0.00 |
| Bonds payable | 0.00 | 0.00 | 0.00 |
| Including: Preference shares | 0.00 | 0.00 | 0.00 |
| Perpetual bonds | 0.00 | 0.00 | 0.00 |
| Lease liabilities | 0.00 | 0.00 | 0.00 |
| Long-term payables | 0.00 | 0.00 | 0.00 |
| Long-term employee benefits payable | 0.00 | 0.00 | 0.00 |
| Provisions | 0.00 | 0.00 | 0.00 |
| Deferred income | 4,627,393,256.00 | 4,627,393,256.00 | 0.00 |
| Deferred income tax liabilities | 0.00 | 581,918,794.00 | 581,918,794.00 |
| Other non-current liabilities | 33,297,240,830.00 | 33,297,240,830.00 | 0.00 |
| Total non-current liabilities | 71,235,335,660.00 | 71,817,254,454.00 | 581,918,794.00 |
| Total liabilities | 85,712,652,922.00 | 84,026,295,836.00 | -1,686,357,086.00 |
| Owners’ equity: | |||
| Share capital | 34,798,398,763.00 | 34,798,398,763.00 | 0.00 |
| Other equity instruments | 8,013,156,853.00 | 8,013,156,853.00 | 0.00 |
| Including: Preference shares | 0.00 | 0.00 | 0.00 |
| Perpetual bonds | 8,013,156,853.00 | 8,013,156,853.00 | 0.00 |
| Capital reserves | 37,608,039,685.00 | 37,608,039,685.00 | 0.00 |
| Less: Treasury stock | 0.00 | 0.00 | 0.00 |
| Other comprehensive income | 193,638,576.00 | 193,638,576.00 | 0.00 |
| Specific reserve | 0.00 | 0.00 | 0.00 |
| Surplus reserves | 1,516,139,709.00 | 2,050,045,823.00 | 533,906,114.00 |
| Retained earnings | 4,781,488,839.00 | 9,586,643,866.00 | 4,805,155,027.00 |
| Total owners’ equity | 86,910,862,425.00 | 92,249,923,566.00 | 5,339,061,141.00 |
| Total liabilities and owners’ equity | 172,623,515,347.00 | 176,276,219,402.00 | 3,652,704,055.00 |
Note for adjustment:
The Group has implemented the Accounting Standards for Business Enterprises No. 14 - Revenue revised in 2017 from 1 January2020, and adjusted relevant items of the financial statements at the beginning of the first execution year according to therequirements of the standards.
2. Retrospective Adjustments to the Comparative Data of Prior Periods due to the First Execution in 2020of the New Accounting Standards Governing Revenue and Leases
□ Applicable √ Not applicable
III Independent Auditor’s ReportIndicate by tick mark whether the financial statements above have been audited by an independent auditor.
□Yes √ No
These financial statements have not been audited by such an auditor.
Chairman of the Board (signature): Chen Yanshun
Date of the Board’s approval of this Report: 29 October 2020