CSGHOLDINGCO.,LTD.
SEMI-ANNUALREPORT2022
ChairmanoftheBoard:
CHENLIN
August2022
SectionI.ImportantNotice,ContentandParaphraseBoardofDirectorsandtheSupervisoryCommitteeofCSGHoldingCo.,Ltd.(hereinafterreferredtoastheCompany)anditsdirectors,supervisorsandseniorexecutivesherebyconfirmthattherearenoanyfictitiousstatements,misleadingstatements,orimportantomissionscarriedinthisreport,andshalltakeallresponsibilities,individualand/orjoint,forthefacticity,accuracyandcompletenessofthewholecontents.Ms.ChenLin,personinchargeoftheCompany,Ms.WangWenxin,responsiblepersoninchargeofaccountingandMs.WangWenxin,principalofthefinancialdepartment(accountingofficer)confirmthattheFinancialReportenclosedinthesemi-annualreportoftheCompanyistrue,accurateandcomplete.AlldirectorswerepresentatthemeetingoftheBoardfordeliberatingthesemi-annualreportoftheCompanyinperson.Thefutureplans,developmentstrategiesandotherforward-lookingstatementsmentionedinthisreportdonotconstituteamaterialcommitmentoftheCompanytoinvestors.Investorsandrelevantpartiesshouldpayattentiontoinvestmentrisks,andunderstandthedifferencesbetweenplans,forecastsandcommitments.TheCompanyhasdescribedtheriskfactorsandcountermeasuresoftheCompany'sfuturedevelopmentindetailinthisreport.PleaserefertoSectionIII.ManagementDiscussionandAnalysisTheCompanyhasnoplansofcashdividenddistribution,bonussharesbeingsentorconvertingcapitalreserveintosharecapital.ThisreportispreparedbothinChineseandEnglish.ShouldtherebeanyinconsistencybetweentheChineseandEnglishversions,theChineseversionshallprevail.
Content
SectionI.ImportantNotice,ContentandParaphrase....................................................1
SectionII.CompanyProfile&FinancialHighlights.....................................................5
SectionIII.BusinessDiscussionandAnalysis...............................................................8
SectionIV.CorporateGovernance...............................................................................33
SectionV.Environmentandsocialresponsibility........................................................35
SectionVI.ImportantEvents........................................................................................43
SectionVII.ChangesinSharesandParticularsaboutShareholders...........................59
SectionVIII.Preferredshares.......................................................................................65
SectionIX.Bonds.........................................................................................................66
SectionX.FinancialReport..........................................................................................69
DocumentsavailableforReference.I.TextofthefinancialreportcarryingthesignaturesandsealsofthepersoninchargeoftheCompany,theresponsiblepersoninchargeofaccountingandtheprincipalofthefinancialdepartment(accountingofficer).II.AlltextsoftheCompany’sdocumentsandoriginalpublicnoticesdisclosedinthepapersappointedbyCSRCinthereportperiod.
Paraphrase
| Item | Refersto | Content |
| Company,theCompany,CSGGrouportheGroup | Refersto | CSGHoldingCo.,Ltd. |
| ForeseaLife | Refersto | ForeseaLifeInsuranceCo.,Ltd. |
| Flatglass | Refersto | Includingfloatglass,photovoltaicglass |
| Ultra-thinelectronicglass | Refersto | Theelectronicglasswiththicknessbetween0.1~1.1mm |
| Second-generationenergy-savingglass | Refersto | Doublesilvercoatedglass |
| Third-generationenergy-savingglass | Refersto | Triplesilvercoatedglass |
| AGglass | Refersto | Anti-glareglass |
| AFglass | Refersto | Anti-fingerprintglass |
| ARglass | Refersto | Anti-reflectionglass |
SectionII.CompanyProfile&FinancialHighlightsI.CompanyProfile
| Shortformofthestock | SouthernGlassA、SouthernGlassB | Stockcode | 000012、200012 |
| Listingstockexchange | ShenzhenStockExchange | ||
| LegalChinesenameoftheCompany | 中国南玻集团股份有限公司 | ||
| Abbr.oflegalChinesenameoftheCompany | 南玻集团 | ||
| LegalEnglishnameoftheCompany | CSGHoldingCo.,Ltd. | ||
| Abbr.oflegalEnglishnameoftheCompany | CSG | ||
| LegalRepresentative | ChenLin | ||
II.Person/Waytocontact
| SecretaryoftheBoard | Representativeofsecuritiesaffairs | |
| Name | WangWenxin(performasSecretaryoftheBoard) | ChenChunyan |
| Contactaddress | CSGBuilding,No.1ofthe6thIndustrialRoad,Shekou,Shenzhen,P.R.C. | CSGBuilding,No.1ofthe6thIndustrialRoad,Shekou,Shenzhen,P.R.C. |
| Tel. | (86)755-26860666 | (86)755-26860666 |
| Fax. | (86)755-26860685 | (86)755-26860685 |
| securities@csgholding.com | securities@csgholding.com |
III.Otherinformation
1.WayofcontactWhetherregisteredaddress,officeaddressandtheirpostalcodes,websiteaddressandemailaddressoftheCompanychangedinthereportperiodornot
□Applicable√NotapplicableTheregisteredaddress,officeaddressandtheirpostalcodes,websiteaddressandemailaddressoftheCompanydidnotchangeinthereportperiod.MoredetailscanbefoundinAnnualReport2021.
2.Informationdisclosureandpreparationplace
Whetherinformationdisclosureandpreparationplacechangedinthereportperiodornot
□Applicable√NotapplicableThenewspapersdesignatedbytheCompanyforinformationdisclosure,thewebsitedesignatedbyCSRCfordisclosingsemi-annualreportandpreparationplaceofsemi-annualreportdidnotchangeinthereportperiod.MoredetailscanbefoundinAnnualReport
2021.
3.OtherrelevantinformationWhetherotherrelevantinformationchangedinthereportperiodornot
□Applicable√Notapplicable
IV.MainaccountingdataandfinancialindexesWhetherithasretroactiveadjustmentorre-statementonpreviousaccountingdata
□Yes√No
| Thereportperiod(Jan.toJun.2022) | Thesameperiodoflastyear | Increase/decreaseyear-on-year | |
| Operatingincome(RMB) | 6,519,216,676 | 6,614,802,538 | -1.45% |
| Netprofitattributabletoshareholdersofthelistedcompany(RMB) | 1,001,174,398 | 1,352,517,465 | -25.98% |
| Netprofitattributabletoshareholdersofthelistedcompanyafterdeductingnon-recurringgainsandlosses(RMB) | 887,594,820 | 1,329,814,528 | -33.25% |
| Netcashflowarisingfromoperatingactivities(RMB) | 902,803,121 | 1,698,245,375 | -46.84% |
| Basicearningspershare(RMB/Share) | 0.33 | 0.44 | -25% |
| Dilutedearningspershare(RMB/Share) | 0.33 | 0.44 | -25% |
| WeightedaverageROE | 8.61% | 12.60% | -3.99% |
| Endofthisperiod | Endoflastyear | Increase/decreaseinthisperiod-endoverthatoflastyear-end | |
| Totalassets(RMB) | 22,471,177,776 | 19,939,364,510 | 12.70% |
| Netassetsattributabletoshareholdersofthelistedcompany(RMB) | 11,817,420,869 | 11,429,661,046 | 3.39% |
V.Differenceofaccountingdataunderdomesticandoverseasaccountingstandards
1.DifferencesofthenetprofitandnetassetsdisclosedinfinancialreportpreparedunderinternationalandChineseaccountingstandards
□Applicable√NotapplicableNosuchdifferencesinthereportperiod.
2.DifferenceofthenetprofitandnetassetsdisclosedinfinancialreportpreparedunderoverseasandChineseaccountingstandards
□Applicable√NotapplicableNosuchdifferencesinthereportperiod.
VI.Itemsandamountsofnon-recurringgainsandlosses
√Applicable□Notapplicable
Unit:RMB
| Item | Amount | Note |
| Gains/lossesfromthedisposalofnon-currentasset(includingthewrite-offthataccruedforimpairmentofassets) | 12,745,461 | |
| Governmentalsubsidyreckonedintocurrentgains/losses(notincludingthesubsidyenjoyedinquotaorrationaccordingtonationalstandards,whicharecloselyrelevanttoenterprise’sbusiness) | 97,547,070 | |
| Inadditiontotheeffectivehedgingbusinessrelatedtothenormalbusinessofthecompany,theprofitandlossfromchangesinfairvaluearisingfromholdingtradingfinancialassetsandtradingfinancialliabilities,aswellastheinvestmentincomeobtainedfromthedisposaloftradingfinancialassets,tradingfinancialliabilitiesandavailableforsalefinancialassets | 16,413,695 | |
| Reversalofprovisionforimpairmentofreceivablesthathavebeenindividuallytestedforimpairment | 1,409,310 | |
| Othernon-operatingincomeandexpenditureexceptfortheaforementioneditems | 11,472,908 | |
| Less:Impactonincometax | 23,294,919 | |
| Impactonminorityshareholders’equity(post-tax) | 2,713,947 | |
| Total | 113,579,578 | -- |
Particularsaboutothergainsandlossesthatmeetthedefinitionofnon-recurringgainsandlosses:
□Applicable√NotapplicableItdidnotexistthatotherprofitandlossitemsmetthedefinitionofnon-recurringgainsandlosses.Explanationofthenon-recurringgainsandlosseslistedintheExplanatoryAnnouncementNo.1onInformationDisclosureforCompaniesOfferingtheirSecuritiestothePublic-Non-recurringGainsandLossesasrecurringgainsandlosses
□Applicable√NotapplicableItdidnotexistthatnon-recurringprofitandlossitemslistedintheExplanatoryAnnouncementNo.1onInformationDisclosureofCompaniesOfferingSecuritiestothePublic-Non-recurringProfitandLossweredefinedasrecurringprofitandlossitemsinthereportperiod.
SectionIII.BusinessDiscussionandAnalysisI.Mainbusinessofthecompanyduringthereportperiod
(I)MainbusinessoftheCompany
CSGisaleadingdomesticbrandofenergy-savingglassandarenownedbrandofsolarPVproductsanddisplaydevices.Itsproductsandtechnologiesarewell-knownathomeandabroad.ItsmainbusinessincludesR&D,manufacturingandsalesofhigh-qualityfloatglass,architecturalglass,photovoltaicglass,newmaterialsandinformationdisplayproductssuchasultra-thinelectronicglassanddisplaydevices,aswellasrenewableenergyproductssuchassiliconmaterials,photovoltaiccellsandmodules,anditprovidesone-stopservicesforphotovoltaicpowerstationprojectdevelopment,construction,operationandmaintenance,etc.FlatglassbusinessTheflatglassbusinessofCSGincludesfloatglassandphotovoltaicglass.Theproductionmode,businessstrategy,technicalrequirementsanddevelopmentdirectionofthetwobusinesseshavesimilaritiesandconsiderabledifferencesduetothedifferenceofindustrialchainenvironment,industrydevelopmentstageandpolicyenvironment.Inthefieldoffloatglass,CSGhas10advancedfloatglassproductionlinesinDongguan,Chengdu,Langfang,WujiangandXianning,andhasquartzsandrawmaterialprocessingandproductionbasesinJiangyou,SichuanProvince,Qingyuan,GuangdongProvinceandFengyang,AnhuiProvince.Theannualoutputofvarioustypesofhigh-gradefloatglassisabout2.47milliontons,coveringhigh-qualityfloatglassandultra-whitefloatglasswithvariousthicknessesandspecificationsof1.3-25mm.Theperformanceindicatorsoftheproductshavereachedtheleadingdomesticlevel.CSGfloatglassproductsareallhigh-endproductsthatcanbedirectlyusedfordownstreamdeepprocessing,andtheproportionofdifferentiatedglassproductswithspecialspecificationsandspecialapplicationscenariossuchasultra-white,ultra-thin,andultra-thickislarge,whicharewidelyusedinhigh-endbuildingcurtainwalls,decorationandfurniture,mirrors,carwindshields,scannersandcopiers,homeappliancepanels,displayprotectionandotherapplicationfieldswithhighrequirementsonglassquality.CSGhasestablishedlong-termandstablebusinesscooperationwithmanywell-knownprocessingenterprises.Theprofitlevelofthefloatglassbusinessisgenerallypositivelycorrelatedwiththelevelofrealestatecompletiondata,andisalsoaffectedbymultiplefactorssuchascurrentenergy,rawmaterialprices,productstructure,andenterprisemanagementlevel.Differentiatedglassproductshavehigheraddedvalueduetospecificapplicationscenarios,higherproductionprocessdifficulties,stabledemand,andrelativelyproactivepricingbymanufacturers.TheCompanyfocusesonimprovingmanagementefficiency,improvingthelevelofleanproductionofconventionalproducts,firmlyimplementingthedifferentiatedcompetitionstrategy,carefullycultivatinganddevelopingdifferentiatedproductmarkets,andcontinuouslyincreasingtheproportionofdifferentiatedproductsales,soastocontinuouslyconsolidateandenhancetheindustrycompetitivenessoftheCompany'sfloatglassbusiness.Inthefirsthalfof2022,thecompletionoftherealestateindustrydroppedsignificantlycomparedwiththesameperiodinrecentyears,thedomesticdownstreamarchitecturalglassmarketdemandsloweddowninstages,theproductionandsalesrateoffloatglassmanufacturersdeclined,andthepriceoffloatglassdeclined;atthesametime,affectedbyepidemiccontrol,RussiaUkraineconflict,inflationandotherfactors,thepricesofrawmaterialsandfuelshaverosesharply,andtheprofitleveloffloatglassdroppedsignificantlycomparedwiththepreviousyear.However,underthemacrobackgroundof"StableGrowth"ofthenationaleconomyandtherealizationof"DoubleCarbon"goals,thedemandforhigh-qualitydifferentiatedproductsandenergy-savingproductsremainsstable.Inthefieldofphotovoltaicglass,CSGhastakentheleadinenteringthefieldofphotovoltaicglassmanufacturinginChinasince2005.Basedonindependentresearchanddevelopment,theCompanyhasformedafullclosed-loopproductioncapacityfromphotovoltaicglassoriginalsheetproductiontodeepprocessing.IthastwophotovoltaicrolledglassoriginalsheetproductionlinesandcomplementaryphotovoltaicglassdeepprocessingproductionlinesinDongguanandWujiang,withanannualoutputofabout
430,000tonsofphotovoltaicrolledglassoriginalsheetsandaphotovoltaicglassdeepprocessingcapacityof72millionsquaremetersperyear,anditsproductscoverdeep-processingproductswithavarietyofthicknessesof2-4mm.Inthefirstquarterof2022,Dongguanphotovoltaicglassfurnacewasupgradedasplanned,andwasignitedinAugust2022.TheCompanyisfirmlyoptimisticaboutthelong-termdevelopmentofthephotovoltaicnewenergyindustry,seizesthegoldenopportunityofindustrialdevelopment,aimsatthefirstechelonoftheindustry,andmakesupfortheshortcomingsoftheGroup'sphotovoltaicglassbusinessproductioncapacityandlarge-scalelayout.TheCompanyisbuildingfourphotovoltaicglassproductionkilnsandcomplementaryprocessinglineswithadailymeltingcapacityof1,200tonsinFengyangandonephotovoltaicglassproductionlineandcomplementaryprocessinglinewithadailymeltingcapacityof1,200tonsinXianning.Amongthem,FengyangNo.1kilnhasbeenignitedinMay2022,andFengyangNo.2kilnhasbeenignitedinAugust2022,andtheconstructionofotherproductionlinesisprogressinginanorderlymannerasplanned.ThereleaseofproductioncapacitywillgreatlyenhancetheCompany'sindustrystatus.Inaddition,withtheapprovaloftheBoardofDirectors,theCompanyplanstobuildtwophotovoltaicglassproductionkilnsandcomplementaryprocessinglineswithadailymeltingcapacityof1,200tonsinBeihaiCity,GuangxiProvince.Currently,thepreparatoryworkfortheprojectisbeingcarriedoutinanorderlymanner.Atthesametime,theCompanyisstillactivelyseekingtofurtherexpandtheproductioncapacityofphotovoltaicglassinotherregionswithresourcesupportandindustrialchainsupport.Underthebackgroundofcarbonpeakingandcarbonneutrality,thephotovoltaicglassbusinesswillbecomethenewchampionbusinessofCSG.In2022,withthepromotionofdomesticdistributedphotovoltaics,large-scalewindpowerphotovoltaicbasesandphotovoltaicguaranteedgrid-connectedpolicies,aswellasthepromotionofcarbonneutralityplansdisclosedbycountriesaroundtheworld,theglobalinstalledcapacitywillmaintainarelativelyhighgrowthrate.AccordingtothestatisticsofChinaPhotovoltaicIndustryAssociation,fromJanuarytoJune2022,thedomesticmoduleoutputwas123.6GW,ayear-on-yearincreaseof54.1%,thedomesticphotovoltaicpowergenerationinstalledcapacitywas30.88GW,ayear-on-yearincreaseof137.4%;theexportvolumeofphotovoltaicmoduleswas78.6GW,ayear-on-yearincreaseof74.3%.Fromtheanalysisofthecurrentpolicyenvironmentandmarketdevelopmenttrend,photovoltaicpowergenerationhasabroadspacefordevelopmentinthefuture,andthedevelopmentoftheglobalmarketmayaccelerate.Althoughtheconcentratedreleaseofnewcapacityofphotovoltaicglassinrecentyearsmayleadtoaphasedmismatchofsupplyanddemandinthemarketandcausemarketpricefluctuations,withtherapiddevelopmentoftheglobalmarketandtheoptimizationandadjustmentofthedomesticindustrialstructure,theindustrywillstillreturntothetrackofhealthydevelopment.In2022,theCompanywillsparenoefforttopromotetheprojectconstruction,speedupthetechnologicaltransformationandupgradingoftheproductionline,focusonimprovingtheproductioncapacityof1.6-2mmultra-thinphotovoltaicglassandphotovoltaicglazedbackplateglassfordoubleglassmodules,followtheproductplanningandrouteadjustmentofmoduletechnologydevelopment,consolidatethecompetitiveadvantageoftheCompanyinthefieldofultra-thinphotovoltaicglass,strengthenthelong-termstrategiccooperationwithindustry-leadingenterprises,andfurtherenhancethemarketcompetitivenessofCSG'sphotovoltaicglass.
Architecturalglassbusiness
CSGisoneofthelargestsuppliersofhigh-gradeengineeringandarchitecturalglassinChinaandithasformedquality,serviceandcontinuousresearchanddevelopmentcapabilitiesthatmatchthebrand.TheCompanyhasbuiltsixenergy-savingglassprocessingbasesinTianjin,Dongguan,Xianning,Wujiang,ChengduandZhaoqing.Uptonow,theCompanyhasformedanannualproductioncapacityofover20millionsquaremetersforcoatedinsulatingglassandover45millionsquaremetersforcoatedglass.Inordertoseizethekeyopportunitiesforthedevelopmentofbuildingenergy-savingglassandsatisfythepeople'spursuitofabetterlife,CSGleveragesitsbrandadvantagestotaketheleadinimprovingthebusinesslayoutofarchitecturalglass.Atpresent,theproductioncapacityofZhaoqingBaseandTianjinExpansionProjectisgraduallybeingreleased,whichfurtherstrengthenstheabilityofCSG'sarchitecturalglasstomeettheneedsoftheconstructionofworld-classmega-cityclustersintheBeijing-Tianjin-Hebei,YangtzeRiverDelta,andGuangdong-HongKong-MacaoGreaterBayArea.Atthesametime,inlinewiththetrendofurbanconstructionextendingfurtherinland,theGroup'sBoardofDirectorsapprovedtheconstructionofXi'anArchitecturalGlassBase,HefeiEnergy-savingGlassIntelligentManufacturingIndustryBaseandXianningArchitecturalProductionLineReconstructionandExpansionProjectin
2021.Basedonthelocalmarketconditions,theCompanywillarrangefirst-levelorsecond-levelarchitecturalglassprocessingbasesthataresuitablefortheirscaleandneeds,andcontinuouslyimproveandstrengthenthemarketcompetitionandservicecapabilitiesofCSG’sarchitecturalglassbusiness.Atpresent,WujiangArchitecturalGlassSmartFactoryandXianningArchitecturalProductionLineReconstructionandExpansionProjectsarebeingimplementedasplanned,andareexpectedtobebasicallycompletedwithin2022.ConstructionoftheXi'anBaseandHefeiBaseProjectshasstartedinthefirsthalfof2022andisexpectedtobecompletedin2023.Asthenewprojectsaregraduallycompletedandputintooperation,theproductioncapacityofCSGarchitecturalglasswillbegraduallyreleased,andthemarketshareoftheproductswillbefurtherincreased.CSG'sarchitecturalglassbusinessadherestothecustomizedbusinessstrategyoftrinityoftechnicalservice,marketing,R&Dandmanufacturing,relyingonitsownmanufacturingandR&Dstrength,aswellasthemarketingandservicenetworkformeddomesticandoverseasoffices,tomeetthepersonalizedneedsofdomesticandforeigncustomersandconstructionprojects.In2017,CSG'slow-EcoatedglasswasawardedthetitleofSingleChampionProductbytheMinistryofIndustryandInformationTechnology,anditpassedthereviewagainin2020,whichfullyprovestheleadingpositionofCSG'sarchitecturalglassintheindustry.TheCompanyhastheworld'sleadingglassdeepprocessingequipmentandtestingequipment,anditsproductscoverallkindsofarchitecturalandconstructionglass.TheR&DandapplicationleveloftheCompany'scoatingtechnologykeepspacewiththeworld,andthehigh-endproducttechnologyisinternationallyleading.Theshadingandheatinsulationperformanceoftheproductisfurtherimproved,andtheenergy-savingcontributionhasbeenfurtherenhanced.AlldeepprocessingbasesoftheCompanyhavetheproductionandprocessingcapabilitiesoftriple-silverhigh-performanceenergy-savingglass.Underthebackgroundofthe"DoubleCarbon"goalandthenationalgreenandenergy-savingbuildingrequirements,themarketdemandfortriple-silverhasfurtherexpanded.AfteryearsofmarkettestingandrelyingontheCompany'sadvancedcoatingtechnology,itshighperformanceandstabilityhavebeenwellreceivedbythemarket,CSG’striple-silverproductshavebecomethebenchmarkinthedomesticthree-silverproductmarket,andhigh-qualityenergy-savingandenvironmentallyfriendlyLOW-Einsulatingglasscontinuestoleadthedomestichigh-endmarketshare.TheCompanyhasalwaysadheredtotheintelligenttransformationanddigitaltransformationasthekeyincrementofthedevelopmentofarchitecturalglassbusiness.Ithascontinuouslyinvestedandaccumulatedrichexperienceintheresearchofproductionautomation,intellectualization,informationtechnologyandequipment,andtheefficiencyimprovementofintelligentupgradingandtransformationoftraditionalequipment.Withtechnologicalprogressandprocessoptimization,theCompanyhasreducedproductionmanpowerconsumption,materialconsumptionandenergyconsumption,activelypromotingtheCompany'stransformationandupgradingtoachieveintensivemanufacturingandhigh-qualitydevelopment.TheCompany’squalitymanagementsystemforengineeringandarchitecturalglasshasbeenrespectivelyapprovedbyorganizationsofUKAOQCandAustraliaQAS.TheproductqualitywhichmeetsthenationalstandardsoftheUS,theUKandAustraliaenablesCSGhasanadvantageintheinternationaltenderingandbidding.Since1988,CSG'sengineersandtechnicianshavebeencontinuouslyparticipatingintheformulationandcompilationofvariousnationalstandardsandindustrystandards.Allkindsofhigh-qualityengineeringarchitecturalglassprovidedbytheCompanyarewidelyusedinlandmarkbuildingssuchasmajorcityCBDsandtransportationhubsathomeandabroad,whicharetoonumeroustomention.The2022BeijingWinterOlympics,whichattractedworldwideattention,accomplishedsuccessfully.ThekeynoteofthisWinterOlympicsis"GreenWinterOlympics".CSG’sGlassishonoredtobeselectedfortheconstructionofquiteafewrelatedvenuesfortheBeijingWinterOlympicswithitssafety,energysavingandhigh-endquality,includingNationalSpeedSkatingHall,NationalSkiJumpingCenter,ShougangSkiJumpingPlatform,BeijingOlympicVillageandmanyotherrepresentativeprojects.CSG’sproductsareonceagainstunninglydisplayedinfrontoftheworld,withtheprojectsusingCSG’sproductsappearedfrequentlyinthepast,suchasCapitalInternationalAirport,DaxingInternationalAirport,NationalConventionCenter,aswellastheprojectsinCapitalCBDArea,whichcontributedauniqueandbeautifullandscapetothewonderfulandextraordinaryOlympicGames.
ElectronicglassanddisplaybusinessElectronicglass
Aftermorethantenyearsofhardwork,CSGelectronicglasshasalwaysfocusedonincreasinginvestmentinresearchand
development,breakingthroughhigh-endmarketbarrierswithindependentintellectualpropertyrightsandindependentinnovation,andfirmlyfollowingthedevelopmentrouteofproductupgradesanditerationstoaccelerateimportsubstitution.ElectronicglasshasbecomeanotherCSGbrand.Atthesametime,theultra-thinelectronicglassisalsorecognizedbytheMinistryofIndustryandInformationTechnologyofthePeople'sRepublicofChinaasthe"IndividualChampionProductofManufacturingIndustry".Inthefirsthalfof2022,theCompany'selectronicglassbusinesscontinuestodevelop.Itsfoursubsidiaries,HebeiPanel,YichangPhotoelectric,QingyuanNewEnergy-SavingMaterialsandXianningPhotoelectriccontinuedtoactivelyimplementproductupgradingandmarketupgradingintheapplicationfieldsofintelligentelectronicterminals,touchcomponents,vehiclemounteddisplay,autoglass,industrialcontrolandcommercialdisplay,safe-guardfacilityandsmarthome,sothatthemarketshareandbrandinfluenceoftheCompany'smedium-aluminaandhigh-aluminaelectronicglassproductscouldimprovegreatly.Richproductstructure,reliabledeliveryguaranteeandstrongtechnicalinnovationhelptheCompany’selectronicglassbusinessmaintainitsdominantpositioninthefiercemarketcompetition.InMarch2021,inordertostrengthentheCompany'shigh-endmarketcompetitivenessinthefieldofultra-thinelectronicglassfortouchapplications,theCompany'sBoardofDirectorsapprovedHebeiPaneltoinvestinanewultra-thinelectronicglassproductionlineandcomplementaryR&Dcenterwithadailymeltingcapacityof110tons.Itisexpectedtobecompletedandputintooperationinthesecondhalfof2022.InDecember2021,theCompany'sBoardofDirectorsapprovedtheupgradeandrenovationprojectofQingyuanCSGPhaseI.Atpresent,theprojectisstillunderconstruction.Whenthenewprojectiscompletedandputintooperation,CSGelectronicglasswillfullycoverthefieldofelectronicglassproductsinhigh,mediumandlow-endapplicationscenarios,formingamoresolidmarketcompetitionfoundation.CSGhaslongbeencommittedtobecomingtheindustry'sleadingelectronicglassmaterialsolutionprovider,anditwillcontinuetodevelopglass-basedprotectivematerialswithhigherstrengthandcompetitivenessinthefieldoftouchdisplay,develophuman-computerinteractioninterfacematerialsmeetingtherequirementsofmaterialinterconnectioninthefieldsofsmarthome,vehicledisplayandadvancedmedical,anddeveloprevolutionaryalternativematerialsinthefieldsofnew-energyvehiclesandsecurity.DisplayInthefieldoftouchdisplay,CSGhasmasteredthethreeindustry-leadingtechnologiesofvacuummagnetronsputteringcoating,3A(Ag+Ar+AF)productprocessing,andyellowlightfinepatternforming,andhasacompleteindustrialchain.ThemainbusinessincludesITOconductiveglass,ITOconductivefilm,high-gradeAgglass,vehiclemountedTPsensorandvehiclemountedmulti-functionalcoverplate.InthetraditionaladvantageousbusinessofITOconductiveglassandITOconductivefilm,inthefirsthalfof2022,thecompanyactivelyrespondedtotheadverseimpactoftheexternalenvironmentandthepressureofindustrycompetitionthroughinternaldeepexplorationofpotentialandresearchanddevelopmentofhighvalue-addeddifferentiatedproductstrategiesinnewapplicationfields,andtheoverallproductionandsalesvolumeremainedstable.Inthefieldofhigh-endAgglassbusiness,inthefirsthalfof2022,theperformanceindicatorsoftheCompany'sproductswereleadingintheindustry,andtheproductionandsalesvolumereachedarecordhigh.Itismass-producedandsuppliedtointernationallyfamouscustomers,mainlyusedinhigh-endvehicledisplayscreens.Inthetwomajorbusinessareasofvehiclemountedmulti-functional3AcoverplateandvehiclemountedTPsensor,theCompanyhasindirectlysuppliedtodomesticandforeignwell-knownautomobilebrandterminalmanufacturersthroughdownstreamcustomers.Itisexpectedthatinthesecondhalfof2022,theproductionandsalesvolumewillincrease,becominganewgrowthpointoftheCompany.
Solarenergyandotherindustries
CSGisoneofenterpriseswhichfirstlyenterthefieldofphotovoltaicproductmanufacturinginChina.Aftermorethantenyearsofconstruction,operationandtechnologicaltransformationandupgrading,CSGhascreatedacompleteindustrialchaincoveringtheoperationofhigh-puritycrystallinesiliconmaterials,siliconwafers,cells,modulesandphotovoltaicpowerstations.ThebusinessstructureoftheentireindustrychainenablestheCompanytohaveacertainabilitytoresistrisks,besensitivetotheindustry,andbeabletoidentifyandrespondquicklytomarketchangesintheindustry.Afteryearsoftechnicalaccumulation,CSG'sphotovoltaic
sectorhasbuiltthreenational-levelscientificresearchandtechnologyplatforms(theNationalDevelopmentandReformCommissionrecognizedthe"NationalandLocalJointEngineeringLaboratoryforSemiconductorSiliconMaterialPreparationTechnology","NationalEnterpriseTechnologyCenter"and"CNASAccreditedLaboratory"."),sevenprovincialscientificresearchandtechnologyplatforms("SemiconductorSiliconMaterialPreparationTechnologyHubeiEngineeringLaboratory"and"HubeiEnterpriseTechnologyCenter";theProvincialDepartmentofScienceandTechnologyrecognized"HubeiSiliconMaterialEngineeringTechnologyResearchCenter","HubeiProvinceSiliconMaterialEngineeringTechnologyResearchCenter"SemiconductorSiliconMaterialTechnologyInternationalCooperationBase","HubeiSiliconMaterialEnterprise-SchoolJointInnovationCenter","GuangdongSolarPhotovoltaicCellandComponentEngineeringTechnologyResearchCenter","GuangdongEnterpriseTechnologyCenter"),won7nationalandlocalscienceandtechnologyprogressawards,143patents,including53inventions,21scientificandtechnologicalachievements,andledorparticipatedintheformulationof23industrialstandards.In2022,theglobalterminalinstallationdemandexceededexpectations,whiletheupstreamhigh-puritycrystallinesiliconmaterialproductioncapacitywaslimited,andthesevererealityofinsufficientsupplyranthroughthefirsthalfof2022.YichangCSGsiliconmaterialsCo.,Ltd.,asubsidiaryofthesolarenergybusinessdepartmentofCSG,fullyimplementedthestrategicdecisionsanddeploymentoftheGroup'smanagement,unswervinglyimplementedthetechnicaltransformationandresumptionofhigh-puritycrystallinesiliconproductionlinesandthetransformationandupgradingofsiliconwaferbusiness,andachievedgoodeconomicbenefits.Atpresent,thesolarenergyindustryreliesonyearsoftechnicalprecipitationandfirst-classindustrialtalentteam.Yichangproductionbasehasahigh-puritycrystallinesiliconproductioncapacityof10,000tons/year,siliconwafers2.2GW/year,andingotpurificationofmonocrystallinematerials7200tons/year;Dongguanproductionbasehasaproductioncapacityof0.6GW/yearforcellsand0.6GW/yearformodules;ShenzhenPhotovoltaicowns139MWofphotovoltaicpowerplants.Asapubliclistedcompanywithextensivesocialinfluenceandsenseofsocialresponsibility,CSGhasalwaysadheredtotheconceptsofenergyconservation,environmentalprotectionandpeople-oriented,andcontributedtotheconstructionofanenvironment-friendly,resource-savingandsustainablehumanfuture.
(II)OverviewofoperationduringthereportperiodInrecentyears,CSGGrouphasmadeaforward-lookinglayout,firmlypromotedtheadjustmentofbusinessstructureduringdevelopment,strengthenedthecompetitiveadvantageoftraditionalenergy-savingbuildingmaterials,andacceleratedthedevelopmentofnewenergyandnewmaterialindustrysectors.Inthefirsthalfof2022,theCompanyachievedoperatingincomeofRMB6.519billion,ayear-on-yeardecreaseof1.45%;netprofitofRMB1.009billion,ayear-on-yeardecreaseof26.33%;netprofitattributabletoshareholdersofthelistedcompanywasRMB1.001billion,ayear-on-yeardecreaseof25.98%.Glassbusinesssegment:
Floatglass:inthefirsthalfof2022,thedomesticdownstreamarchitecturalglassmarketdemandsloweddowninstages,andthepriceoffloatglassfell.Atthesametime,duetofactorssuchasrisingrawandfuelprices,theproductioncostwasincreased,andtheprofitabilityoffloatglassfell.Inthefaceofthesevereexternalenvironment,thecompanyfirmlyfollowsthehigh-enddifferentiatedproductline:expandingtheproductioncapacityofultra-clearglass,furtherincreasingtheproductionandsales,creatingaseriesofhigh-endbrandsofCSGultra-clear"BlueDiamond",andbecomingaleaderintheindustrysegment;Theproportionofhighvalue-addeddifferentiatedproductscontinuedtoincrease,maintainingaleadingpositioninthemarketsegmentofhigh-gradefloatglass.Coordinatingandorganizingtheprocurementofstrategicreservesofbulkrawmaterialstoeffectivelyhedgethepressureofrisingprocurementcosts;establishingamineralresourcesmanagementcentertocoordinatetheimplementationofthestrategictaskofexpandingmineralresourcesreserves;strengtheningtheleancontroloftheentireproductionprocess,andcontinuetoreducecostsandincreaseefficiency.Inthefirsthalfof2022,therevenueofthefloatglassbusinessdecreasedby20.66%comparedwiththesameperiodofthepreviousyear,andthenetprofitdecreasedby64.34%.Photovoltaicglass:continuetomaintaintheindustry-leadingproductioncapacity,qualityandcomprehensivemanufacturingyieldofultra-thinphotovoltaicglassproductsbelow2mm.Inthefirsthalfof2022,theglobalphotovoltaicmarketwasgenerallygood.The
growthofdomesticandoverseasdemandforphotovoltaicmodulesformedanincrementaldemandforphotovoltaicglass,andthepriceofphotovoltaicglassrosetoacertainextent.However,duetothecentralizedinvestmentofnewcapacity,thereweresignsofsupplyanddemandmismatchintheshortterm.TheCompanyisfirmlyoptimisticaboutthelong-termdevelopmentofthephotovoltaicnewenergyindustry,acceleratingtheconstructionofnewphotovoltaicglassprojectsinFengyangandXianning,andatthesametime,steppinguptheupgradingandtransformationofexistingproductionlinestobettermeettheneedsofcustomersandfuturemarketcompetition.TheexpansionofphotovoltaicglassproductioncapacitywillgreatlyenhancethemarketcompetitivenessoftheCompany'sphotovoltaicglass.Inordertoadapttochangesinbusinessscale,theCompanyhasestablishedaphotovoltaicglassmarketingcentertocoordinatetheGroup'sphotovoltaicglassmarketingbusinessandeffectivelyimprovetheCompany'smanagementefficiency.Inthefirsthalfof2022,duetotheupgradingandtransformationofthephotovoltaicglassproductionlineofDongguanCompany,thebusinessincomeandprofitlevelofthephotovoltaicglasssegmentdecreasedcomparedwiththesameperiodofthepreviousyear,ofwhichtheincomedecreasedby43.66%andthenetprofitdecreasedby101.18%.Architecturalglass:isthegoldenbrandofCSG,andithasformedquality,serviceandcontinuousR&Dcapabilitiesthatmatchthebrand.FocusingontheCountry'simprovementofbuildingenergy-savingstandardsandhigh-risebuildingsafetystandards,itstrengthensbrandbuildingandadherestothecustomizedbusinessstrategyoftrinityoftechnicalservice,marketingandR&Dandmanufacturing,tomeetthepersonalizedneedsofdomesticandforeigncustomersandconstructionprojects.Themarketshareinthedomestichigh-endconstructionmarketcontinuestorise,andthemarketscaleandprofitabilityinthefieldofdeepprocessinginthesameindustrymaintainaleadingposition.Affectedbythespreadofthedomesticepidemicinthefirsthalfof2022,thepressureonsalesanddeliveryincreasedyear-on-year,andthepressureondomesticrealestatecompaniestocollectfinancingincreased.Inordertoreduceoperationalrisks,theCompanygraduallyincreasedriskmanagementandcontrolrequirements,andtheyear-on-yearincreaseinoperatingincomewaslimited.However,byrefiningthemarketlayout,theCompanycontinuedtoincreasethesigningofhigh-qualityprojects,theordercompoundingdegreeandtheproportionoftriple-silverproductsincreasedsignificantlyyear-on-year,whileincreasingtheproportionofhigh-qualitysmallandmedium-sizedorderssuchasshort-flat-fastorders,etc.,andincreasedcooperationinlivelihoodsecurityprojects.Continueto"ReduceCostsandIncreaseEfficiency"andrefineoperations,relyingontheadvantagesoftheGroup'sindustrialchain,operatingprofitmaintainsasteadygrowthtrend.Focusingonthefuture,theCompanyseizesthehistoricopportunityofspeedingupgreenbuildingconstruction,acceleratestheconstructionofnewbases,improvestheautomationandinformatizationlevelofproductionlines,continuouslyimprovesequipmentproductionefficiency,andtakestheleadinfutureindustrycompetition.Atpresent,theproductioncapacityofZhaoqingBaseandTianjinExpansionProjectisgraduallybeingreleased;WujiangArchitecturalGlassIntelligentFactoryandXianningArchitecturalProductionLineReconstructionandExpansionProjectarebeingimplementedasplannedandareexpectedtobebasicallycompletedin2022.TheconstructionofHefeienergy-savingglassintelligentmanufacturingindustrybaseandXi'anbasehasbeenstartedandisexpectedtobeputintousein2023.Withthegradualcompletionandlaunchofnewproductioncapacity,theproductservicecapabilityandmarketsharewillcontinuetoincrease,andthegoldensignboardofCSGarchitecturalglasswillbecomebrighterandbrighter.Inthefirsthalfof2022,thebusinessrevenueoftheengineeringglasssegmentincreasedby1.11%comparedwiththesameperiodofthepreviousyear,andthenetprofitincreasedby216.17%.ElectronicglassanddisplaybusinesssegmentFocusingonincreasinginvestmentinresearchanddevelopment,breakingthroughhigh-endmarketbarrierswithindependentintellectualpropertyrightsandindependentinnovation,andfirmlyfollowingthedevelopmentrouteofproductupgradesanditerationstoaccelerateimportsubstitution,electronicglasshasbecomeanotherchampionbusinessofCSG.Inthefirsthalfof2022,theCompany'shighaluminumsecondgeneration(KK6-P)lithiumaluminosilicateelectronicglassproductscontinuedtoexpandthemarketofnewcustomers,andsuccessfullyequippedOLEDscreenstoachieveabreakthroughinhigh-endscreenapplications,markingthatCSG'selectronicglassbusinesshasfirmlyestablishedthesupplychainsystemofdomestichigh-endcustomers.Atthesametime,theCompanycontinuedtopromoteproducttechnologyupgrading,developednewproductsforwindowglassofnewenergyvehicles,andsuccessfullypassedcustomercertification.Itisexpectedtoachievemassproductionandshipmentinthesecondhalfof2022.Thefuturemarketisworthlookingforwardto.TheCompanycontinuedtostrengthentheresearchanddevelopmentof
thethirdgenerationofhigh-aluminum,andachievedgoodresultsinend-customerverification.Inaddition,QingyuanCSGPhaseII"OneKilnandTwoLines"project,whichwastransferredtocommercialoperationattheendof2020,isoperatingwell,enhancingtheoverallprofitabilityofelectronicglass,andfurtherconsolidatingandstrengtheningCSG'scompetitiveadvantageinthedomesticelectronicglassfield.Inthefirsthalfof2022,duetotheimpactofthe"Epidemic"andthegeneraleconomicenvironment,theterminalmarketdemandshrank,resultinginadeclineintheperformanceoftheCompany'selectricdisplaysegment.Inthefirsthalfof2022,theElectricDisplaysegmentachievedarevenueofRMB810million,ayear-on-yeardecreaseof8.06%,andanetprofitofRMB112million,ayear-on-yeardecreaseof50.15%.SolarandotherbusinesssegmentsThemacrobackgroundoftheglobalconsensuson"GreenDevelopment"andthetimetableofthedomesticdouble-carbontargetjointlypromotethephotovoltaicindustrytoenteranewhigh-speeddevelopmentperiodaftercomprehensivelyusheringintheaffordableInternetaccess.Onthebasisofobjectiveanalysisofitsownindustrialadvantagesanddisadvantages,overallconsiderationofthemarketenvironment,industrialdevelopmenttrendandtheGroup'soverallindustrialdevelopmentplan,theCompanyplanstoimplementtheprojectof50,000tonhigh-puritycrystallinesiliconinHaixiPrefecture,QinghaiProvince,tofurtherexpandthesolarenergybusinessandenhancetheGroup'soverallcompetitiveness.Atpresent,theCompany'shigh-puritycrystallinesiliconadoptstwopathsofstrategiccooperationwithdownstreamcooperatorsintheindustrychain,signinglong-termordersandflexiblesalestoreduceoperatingrisksandensurestableandsustainablebusinessdevelopment.Continuouslyoptimizingtheprocessinproductiontocontinuouslyreducecostandincreaseefficiency.Forexample,thedifferentialpressurecouplingtechnologyoffourdistillationcolumnsreducestheunitconsumptionofsteambymorethan20%;theprocessimprovementandcontroltechnologyoptimizationofthecomprehensiveutilizationofmaterialshaveincreasedthechlorosilanerecoveryratebymorethan38%,andgreatlyreducedthealkaliconsumptionandwasteresiduedischarge.Aftertheresumptionofproduction,withacombinationoftechnicalmeasuresandproductionmanagementupgrades,theproductioncapacitybrokearecordhigh,ofwhichthethirdlevelofnationalstandardelectronicsaccountedfornearly95%,whilethesiliconunitconsumption,comprehensiveelectricityunitconsumption,andsteamunitconsumptionallhitrecordlows.Aftertheresumptionofproduction,high-puritycrystallinesiliconquicklyenteredthefirst-tiermanufacturersintheindustry,suchasTrina,Jinko,CanadianSolar,Gaojing,andShuangliangECO-Energy,relyingonproductqualityandmarketreputation.Theelectronicgradehigh-puritycrystallinesiliconcompactmaterialhasmettherequirementsofN-typebatterycustomers,andthemarketcompetitivenessisprominent,whichbringsgreatconfidencetotheconstructionoftheprojectofQinghai50,000-tonhigh-puritycrystallinesilicon.Atpresent,theprojectofQinghai50,000-tonhigh-puritycrystallinesiliconhascompletedsiteselectionanalysis,technicalplan,organizationcapacity,scheduleplanning,investmentestimation,financialevaluation,etc.Afterseveralroundsofdiscussions,thetop-leveldesignhasbeenpreliminarilycompleted.Inthesiliconwaferbusiness,onthebasisofconsolidatingthecustomerbaseofpolycrystallinesiliconwaferproducts,itadoptsdiversifiedoperations,activelytransformsthemainstreammarketwiththemonocrystallineroute,makesfulluseofitsownadvantages,andenhancestheabilityofassetcreation.Inthefirsthalfof2022,theprofitabilityofthewaferbusinessimprovedsignificantly,whichbenefitedfromthesuccessfulcaptureoftheIndianmarketbypolycrystallinesiliconwaferproducts,thetransformationofmonocrystallinewafersandpreliminaryresultsachievedbyingotpurificationsinglecrystalmaterials,amongwhich,inthefirsthalfof2022,atotalof10.82millionmonocrystallinesiliconwafersweresold,and802tonsofingotrefiningsinglecrystalmaterialswereused.Thetransformationofsiliconwafertosinglecrystalisinlinewiththelong-termdevelopmentstrategyoftheCompany.Intermsofmarketstrategy,monocrystallinesiliconwafershavesuccessfullyenteredtheTOP5batterymanufacturers(Aixu,Jietai,Jinko,etc.).Themodulebusinesshascompletedtheconstructionofa500MWhigh-power,large-sizemoduleproductionlineandhasbeenputintoproductionsmoothly,greatlyimprovingtheabilitytoobtainorders.Thepowerstationbusinessadded7.2MWtothegridinthefirsthalfof2022,withatotalof139MWofphotovoltaicpowerstations.Inthefirsthalfof2022,theCompany'ssolarandotherbusinessrevenuetotaledRMB1.434billion,ayear-on-yearincreaseof
225.49%,anditsnetprofitwasRMB282million,asignificantyear-on-yearincrease.
II.CoreCompetitivenessAnalysis
CSG,oneofthemostcompetitiveandinfluentiallarge-scaleenterprisesinChina'sglassindustryandnewenergyindustry,iscommittedtothedevelopmentofenergyconservationrenewable,andnewmaterialindustry.Afternearly40yearsofdevelopmentandaccumulation,theCompanyhasgraduallyformedacomprehensivecompetitiveadvantageintermsofproductsandbrands,technologyresearchanddevelopment,industrialchainandlayout,talentteam,andgreendevelopment.
1.Productandbrandadvantages"CSG"isafamousbrandofdomesticenergy-savingglass,ultra-thinelectronicglass,displayandsolarphotovoltaicproducts.Itsproductsandtechnologyarewell-knownathomeandabroad.Thetrademarks"南玻"and"SG"heldbytheCompanyareboth"FamousTrademarkofChina".TheCompanyhasbeenlistedinthe"Top50BuildingMaterialsEnterprisesinChina","Top100IndustryLeadersinShenzhen"and"PreferredBrandofArchitecturalGlass"inDoorandWindowCurtainWallIndustryformanyyears.In2018,"CSG"brandwasrecognizedbytheUnitedNationsIndustrialDevelopmentOrganizationasthefourthbatchof"InternationalReputationBrand".CSG’slow-Ecoatedglassandultra-thinelectronicglasswereawardedthetitleofSingleChampionProductbytheMinistryofIndustryandInformationTechnology,anditistheonlymanufacturerinthedomesticglassindustrythathastwosinglechampionproductsatthesametime.
2.TechnologyresearchanddevelopmentadvantageTheCompanyhasalwaysattachedimportancetotechnologyresearchanddevelopmentsinceitsestablishment,andhastakenindependentR&DasitsfoundationbywhichleadingthedevelopmentofChina'sglassindustry.AsofJune30,2022,theCompanyhashadatotalof19nationalhigh-techEnterprises,2national-levelmanufacturingsinglechampionproducts,1national-levelengineeringlaboratory,1national-levelenterprisetechnologycenter,3nationalintellectualpropertyadvantageenterprises,5national-levelspecializedandsophisticatedenterprises,1NationalScienceandTechnologyProgressAward,2provincial-levelacademicianworkstations,1provincial-leveldoctoralworkstation,12provincial-levelenterprisetechnologycenters,6provincial-levelengineeringtechnologyresearchcenters,4provincial-levelintellectualpropertydemonstrationconstructionenterprises,6provincial-levelspecializedandsophisticatedenterprises,7provincial-levelscienceandtechnologylittlegiants,1provincial-levelgovernmentqualityaward,9provincial-levelscientificandtechnologicalprogressawards,3provincial-levelpatentawards.AsofJune30,2022,theCompanyhadappliedforatotalof2,470patents,including993inventions,1,468utilitymodelpatents,and9designs.TheCompanyhadbeenaccumulativelyauthorized1,811,including337inventions,1,465utilitymodels,and9designs.
3.IndustrialchainandlayoutadvantagesTheCompanyhasthreecompleteindustrialchainsofenergy-savingglass,electronicglassanddisplay,andsolarphotovoltaic.Withthecontinuousimprovementofthetechnologicallevelofeachlinkoftheindustrialchain,theindustrialadvantageisobvious.Atthesametime,theCompanypossessesacompleteindustrylayout.ThesixmajorproductionbasesarelocatedinthePearlRiverDeltainSouthChina,theYangtzeRiverDeltainEastChina,theChengdu-ChongqingregioninSouthwestChina,Beijing-Tianjin-HebeiregioninNorthChina,andtheHubeiregioninCentralChina.
4.TalentteamadvantageTheadvantageoftheCompany’stalentteamismainlyreflectedintwoaspects:Ontheonehand,theCompanyhasestablishedastrongR&DteamandR&Dsystem.Throughtheconstructionofthecoretechnicalteam,continuousR&Dinvestment,andabundanttechnicalreserves,ithasbuiltupimportanttechnologicalinnovationsupportfortheCompany’sstrategy.Meanwhile,itestablishesIndustry-University-Researchcooperation,activelycooperatingwithdomesticcollegesanduniversitieswhichareinadvantagein
silicatematerialsindustry,toacceleratethetransformationofscientificresearchresults,andtostrengthenbasicresearch;ontheotherhand,anexcellentandstablemanagementteamisoneofthemostfundamentalguaranteesfortheCompany’srapidandstabledevelopment.TheCompanyhasformedagoodechelontrainingmechanismforprofessionalmanagers.Atpresent,theCompany'sseniormanagementteamhascomparativeadvantagesintermsofacademicbackground,professionalqualities,knowledgereserves,managementconceptsandexperience.
5.GreendevelopmentadvantageTheCompanyprospectivelychoosestheenterprisedevelopmentpathofenvironmentalprotectionandgreendevelopment.Environmentalprotectionisthelifelineofthesurvivalanddevelopmentofglassenterprisesandtheconcentratedembodimentofcorporatesocialresponsibilityinhighenergyconsumingindustries.Asanenvironment-friendlyandresource-savingenterprise,CSGtooktheleadintheindustrytousenaturalgasasfuelinallfurnaceproductionlinesasearlyasmorethantenyearsago,andatthesametimetooktheleadintheindustrytoadoptwasteheatpowergeneration,distributedphotovoltaicpowergenerationandothermethodstoachievecomprehensiveenergyutilization,andadoptcomprehensiveexhaustgastreatmentsuchasdesulfurization,denitrationanddustremovaltoachieveultra-lowemission,whichisfarlowerthanthenationalstandardpollutantemissionpermissionvalue.Promotedbythegoalof"CarbonPeakingandCarbonNeutrality"andthecontinuoustighteningofenvironmentalprotectionpolicies,theCompany,asapioneerinthegreendevelopmentoftheindustry,haswonabroaddevelopmentspaceforitself.
III.Mainbusinessanalysis
OverviewPleaserefertotherelevantcontentof“I.MainbusinessoftheCompanyinthereportperiod”.Year-on-yearchangesofmainfinancialdata
Unit:RMB
| Thereportperiod | Thecorrespondingperiodoflastyear | Increase/decreaseyear-on-year（%） | Reasonsofchange | |
| Operatingincome | 6,519,216,676 | 6,614,802,538 | -1.45% | |
| Operatingcosts | 4,637,645,927 | 4,126,627,145 | 12.38% | |
| Salesexpenses | 133,906,652 | 125,326,015 | 6.85% | |
| Administrationexpenses | 318,635,812 | 354,914,704 | -10.22% | |
| Financialexpenses | 62,797,352 | 86,999,999 | -27.82% | |
| Incometaxexpenses | 168,925,524 | 255,280,290 | -33.83% | Mainlyduetothedecreaseintotalprofit |
| R&Dinvestment | 265,877,930 | 224,886,882 | 18.23% | |
| Netcashflowarisingfromoperatingactivities | 902,803,121 | 1,698,245,375 | -46.84% | Mainlyduetotheincreaseinexpenditureonpurchasinggoodsandthedecreaseincashreceivedfromsellinggoods |
| Netcashflowarisingfrominvestmentactivities | -1,832,143,634 | -1,170,930,677 | 56.47% | Mainlyduetotheincreaseincashflowpaidforthepurchaseandconstructionoffixedassets,intangibleassetsandother |
| long-termassets | ||||
| Netcashflowarisingfromfinancingactivities | 1,033,633,029 | -1,002,452,352 | Mainlyduetoincreaseinborrowings | |
| Netincreaseincashandcashequivalents | 107,488,197 | -476,355,365 |
Majorchangesonprofitcompositionorprofitresourcesinthereportperiod
□Applicable√NotapplicableTherewasnomajorchangeintheCompany'sprofitcompositionorprofitresourcesduringthereportperiod.Compositionofoperatingincome
Unit:RMB
| Thereportperiod | Thecorrespondingperiodoflastyear | Increase/decreasey-o-y | |||
| Amount | Ratioinoperatingincome | Amount | Ratioinoperatingincome | ||
| Totalofoperatingincome | 6,519,216,676 | 100% | 6,614,802,538 | 100% | -1.45% |
| Accordingtoindustry | |||||
| Glassindustry | 4,428,770,426 | 67.93% | 5,352,576,980 | 80.92% | -17.26% |
| Electronicglass&Displayindustry | 809,915,769 | 12.42% | 880,888,108 | 13.32% | -8.06% |
| Solarenergyandotherindustries | 1,433,641,147 | 21.99% | 440,453,797 | 6.66% | 225.49% |
| Undistributed | 230,507,530 | 3.54% | 42,652,849 | 0.64% | 440.43% |
| Amountofunutilized | -383,618,196 | -5.88% | -101,769,196 | -1.54% | 276.95% |
| Accordingtoproduct | |||||
| Glassproducts | 4,428,770,426 | 67.93% | 5,352,576,980 | 80.92% | -17.26% |
| Electronicglass&Displayproducts | 809,915,769 | 12.42% | 880,888,108 | 13.32% | -8.06% |
| Solarenergyandotherproducts | 1,433,641,147 | 21.99% | 440,453,797 | 6.66% | 225.49% |
| Undistributed | 230,507,530 | 3.54% | 42,652,849 | 0.64% | 440.43% |
| Amountofunutilized | -383,618,196 | -5.88% | -101,769,196 | -1.54% | 276.95% |
| Accordingtoregion | |||||
| MainlandChina | 6,019,026,588 | 92.33% | 5,993,997,205 | 90.61% | 0.42% |
| Overseas | 500,190,088 | 7.67% | 620,805,333 | 9.39% | -19.43% |
Listoftheindustries,productsorregionsexceed10%oftheoperatingincomeoroperatingprofitsoftheCompany
√Applicable□Notapplicable
Unit:RMB
| Operatingincome | Operatingcost | Grossprofitratio | Increase/decreaseofoperatingincomey-o-y | Increase/decreaseofoperatingcosty-o-y | Increase/decreaseofgrossprofitratioy-o-y | |
| Accordingtoindustry | ||||||
| Glassindustry | 4,428,770,426 | 3,060,501,990 | 30.89% | -17.26% | -6.90% | -7.70% |
| Electronicglass&Displayindustry | 809,915,769 | 582,707,570 | 28.05% | -8.06% | 10.47% | -12.07% |
| Solarenergyandotherproducts | 1,433,641,147 | 950,467,515 | 33.70% | 225.49% | 156.06% | 17.98% |
| Accordingtoproduct | ||||||
| Glassproducts | 4,428,770,426 | 3,060,501,990 | 30.89% | -17.26% | -6.90% | -7.70% |
| Electronicglass&Displayproducts | 809,915,769 | 582,707,570 | 28.05% | -8.06% | 10.47% | -12.07% |
| Solarenergyandotherproducts | 1,433,641,147 | 950,467,515 | 33.70% | 225.49% | 156.06% | 17.98% |
| Accordingtoregion | ||||||
| MainlandChina | 6,019,026,588 | 4,235,104,852 | 29.64% | 0.42% | 14.02% | -8.39% |
| Overseas | 500,190,088 | 402,541,075 | 19.52% | -19.43% | -2.36% | -14.07% |
UnderthecircumstancesthatthestatisticalstandardsfortheCompany’smainbusinessdataadjustedinthereportperiod,theCompany'smainbusinessdataintherecentyeariscalculatedbasedonadjustedstatisticalstandardsattheendofthereportperiod
□Applicable√NotapplicableIV.Non-corebusinessanalysis
√Applicable□Notapplicable
Unit:RMB
| Amount | Percentagetototalprofits | Explanationofthereason | Whethersustainableornot | |
| Incomefrominvestment | 16,413,695 | 1.39% | Mainlyfromthepurchaseofstructureddeposits | No |
| Impairmentofassets | -1,456 | 0% | Mainlyduetothereversalofinventorydepreciationreserves | No |
| Non-operatingincome | 15,132,978 | 1.29% | Mainlyinsurancecompensationandunpaidpayments,etc. | No |
| Non-operatingexpenses | 3,660,070 | 0.31% | Mainlycompensationandotherexpenses | No |
| Incomefromassetdisposal | 12,745,461 | 1.08% | Mainlytheprofitandlossondisposalofnon-currentassets | No |
| Otherincome | 99,302,552 | 8.43% | Mainlythereturnofgovernmentsubsidies,etc. | No |
| Creditimpairmentloss | 1,492,222 | 0.13% | Mainlyduetotheprovisionforbaddebtsofaccountsreceivable | No |
V.Assetsandliabilities
1.Significantchangesinassetscomposition
Unit:RMB
| Endofthereportperiod | Endofthecorrespondingperiodoflastyear | Increaseordecreaseinproportion | Explanationofsignificantchanges | |||
| Amount | Percentagetototalassets | Amount | Percentagetototalassets | |||
| Monetaryfunds | 2,870,042,541 | 12.77% | 2,765,925,906 | 13.87% | -1.10% | |
| Accountsreceivable | 842,283,667 | 3.75% | 730,525,687 | 3.66% | 0.09% | |
| Inventory | 1,766,912,399 | 7.86% | 1,093,805,525 | 5.49% | 2.37% | MainlyduetotheresumptionofproductionofYichangCSGPolysiliconandtheincreaseinmaterialreservesofsomesubsidiaries,etc. |
| Investmentproperty | 383,084,500 | 1.70% | 383,084,500 | 1.92% | -0.22% | |
| Fixedassets | 9,336,413,529 | 41.55% | 8,566,515,026 | 42.96% | -1.41% | |
| Constructioninprogress | 2,809,337,684 | 12.50% | 2,461,088,650 | 12.34% | 0.16% | |
| Rightofuseassets | 9,034,632 | 0.04% | 9,911,935 | 0.05% | -0.01% | |
| Short-termloans | 468,108,522 | 2.08% | 180,770,000 | 0.91% | 1.17% | Mainlyduetoborrowingsofsomesubsidiaries |
| Contractliabilities | 413,885,125 | 1.84% | 335,188,642 | 1.68% | 0.16% | |
| Long-termloans | 3,161,136,468 | 14.07% | 1,469,059,824 | 7.37% | 6.70% | Mainlyduetotheincreaseofloansforprojectconstruction |
| Leaseliabilities | 220,138 | 0% | Mainlyduetothereclassificationofleaseliabilitiestonon-currentliabilitiesduewithinoneyear | |||
| Notesreceivable | 445,375 | 0% | 19,220,984 | 0.10% | -0.10% | Mainlybecausesomewereconvertedtoaccountsreceivableduetonon-performancebythedrawer |
| Receivablesfinancing | 582,328,808 | 2.59% | 297,046,123 | 1.49% | 1.10% | MainlyduetotheincreaseinsalesrevenuefromtheresumptionofYichangCSGPolysilicon |
| Prepayments | 235,326,059 | 1.05% | 76,097,276 | 0.38% | 0.67% | Mainlyduetotheincreaseinprepaymentsformaterialsbysomesubsidiaries |
| Othercurrentassets | 68,616,670 | 0.31% | 140,705,298 | 0.71% | -0.40% | Mainlyduetothedecreaseinvalue-addedtaxtobededucted |
| Notespayable | 549,939,628 | 2.45% | 400,662,713 | 2.01% | 0.44% | Mainlyduetotheincreaseofnewnotesissuedbysomesubsidiaries |
| Payrollpayable | 287,729,142 | 1.28% | 426,212,979 | 2.14% | -0.86% | mainlyduetotheyear-endbonuses |
| accruedinthepreviousyearthatwerepaidduringthereportperiod. | ||||||
| Non-currentliabilitiesduewithinoneyear | 2,371,913,539 | 10.56% | 503,820,548 | 2.53% | 8.03% | Mainlyduetothereclassificationofbondspayabletonon-currentliabilitiesduewithinoneyear |
| Bondspayable | 1,996,587,330 | 10.01% | -10.01% | Mainlyduetothereclassificationofbondspayabletonon-currentliabilitiesduewithinoneyear |
2.Mainoverseasassets
□Applicable√Notapplicable
3.Assetsandliabilitiesatfairvalue
√Applicable□Notapplicable
Unit:RMB
| Item | Openingbalance | Profitandlossfromchangesinfairvalueinthecurrentperiod | Cumulativechangesinfairvalueincludedinequity | Impairmentaccruedinthecurrentperiod | Purchaseamountforthisperiod | Amountsoldinthisperiod | Otherchanges | Closingbalance |
| Financialassets | ||||||||
| Tradingfinancialassets(excludingderivativefinancialassets) | 999,600,000 | 2,198,160,000 | 1,988,760,000 | 1,209,000,000 | ||||
| Subtotaloffinancialassets | 999,600,000 | 2,198,160,000 | 1,988,760,000 | 1,209,000,000 | ||||
| Investmentrealestate | 383,084,500 | 383,084,500 | ||||||
| Receivablesfinancing | 297,046,123 | 285,282,685 | 582,328,808 | |||||
| Totaloftheabove | 1,679,730,623 | 2,198,160,000 | 1,988,760,000 | 285,282,685 | 2,174,413,308 |
Otherchanges:nilDuringthereportperiod,whetherthecompany’smainassetmeasurementattributeschangedsignificantlyornot
□Yes√No
4.Limitedassetrightsasoftheendofthereportperiod
Unit:RMB
| Item | Closingbookvalue | Limitedreason |
| Monetaryfunds | 6,076,772 | Limitedcirculationofmargin |
| Fixedassets | 148,986,093 | Limitedfinancelease |
| Total | 155,062,865 | -- |
VI.Investmentanalysis
1.Overallsituation
√Applicable□Notapplicable
| Investmentinthereportperiod(RMB) | Investmentinthesameperiodoflastyear(RMB) | Changerange |
| 3,850,076,802 | 2,389,404,198 | 61.13% |
2.Themajorequityinvestmentobtainedinthereportperiod
□Applicable√Notapplicable
3.Themajorongoingnon-equityinvestmentinthereportperiod
√Applicable□Notapplicable
Unit:RMB
| Project | Wayofinvestment | Fixedassetinvestmentornot | Industryinvolved | Amountinvestedinthereportperiod | Accumulativeamountactuallyinvestedbytheendofthereportperiod | Sourceoffunds | Progressofproject(ongoingprojects) | Expectedreturn | Accumulativerevenueachievedbytheendofthereportperiod | Reasonsfornotachievingtheplannedprogressandtheexpectedreturn | Dateofdisclosure(ifapplicable) | Indexofdisclosure(ifapplicable) |
| ZhaoqingCSGhigh-gradeenergyconservationglassproductionlineproject | Self-built | Yes | Manufacturingindustry | 27,140,143 | 340,490,176 | Ownfundsandloansfromfinancialinstitutions | CSGplanstoinvestintheconstructionofenergy-savingglassproductionprojectinZhaoqingfrom2019to2021.Aftertheproduction,thecompanywillproduce2.5millionsquaremetersofenergy-savinginsulatingglassand3.5millionsquaremetersofcoatedenergy-savingproducts.Partoftheprojecthasbeenputintoproduction. | 69,880,000 | Partoftheprojecthadbeencompleted,andthebenefitshadbeenreflectedintheprofits. | Partoftheprojecthadbeencompleted,andthebenefitshadbeenreflectedintheprofits. | December13,2019 | Noticenumber:2019-077 |
| ZhaoqingCSGhigh-gradeautomotiveglassproductionlineproject | Self-built | Yes | Manufacturingindustry | 26,746,441 | 54,688,369 | Ownfundsandloansfromfinancialinstitutions | CSGplanstoinvestintheconstructionofhigh-endautomotiveglassproductionlineinZhaoqingfrom2019to2021.Theprojectisunderconstruction. | 58,000,000 | Noprofitastheprojectisintheconstructionperiod. | Noprofitastheprojectisintheconstructionperiod. | December13,2019 | Noticenumber:2019-077 |
| AnhuiFengyangquartzsand | Self-built | Yes | Manufacturingindustry | 83,192,287 | 139,848,770 | Ownfundsandloans | CSGplanstobuildanewproductionbaseoflowiron(ultra-white)quartz | 82,380,000 | Partoftheprojecthad | Partoftheprojecthad | March6,2020 | Noticenumber: |
| project | fromfinancialinstitutions | sandwithanannualoutputof600,000tonsinFengyang,AnhuiProvince,andobtaintheraworerightofquartzsand.Theprocessingplanthasbeenputintooperation | beencompleted,andthebenefitshadbeenreflectedintheprofits. | beencompleted,andthebenefitshadbeenreflectedintheprofits. | 2020-010 | |||||||
| AnhuiFengyangLightweight&high-permeabilitypanelforsolarenergyequipmentmanufacturingbaseproject | Self-built | Yes | Manufacturingindustry | 776,565,916 | 1,541,736,443 | Ownfundsandloansfromfinancialinstitutions | CSGplanstoinvestinAnhuiProvincefortheprojectoflightweight&high-permeabilitypanelforsolarenergyequipmentmanufacturingbasein2020-2022.Theprojectisunderconstruction. | 435,660,000 | Noprofitastheprojectisintheconstructionperiod. | Noprofitastheprojectisintheconstructionperiod. | March6,2020 | Noticenumber:2020-010 |
| TianjinEnergy-savingCoatingProductionLinePurchaseandUpgradeProject | Self-built | Yes | Manufacturingindustry | 5,636,400 | 100,861,437 | Ownfundsandloansfromfinancialinstitutions | CSGintendstoinvestinanewcoatingproductionlineinTianjinCSG,andatthesametimeupgradeandtransformtheexistingcoatinglineBandlineC.Theprojectplanstoincreasetheannualproductioncapacityof2.76millionsquaremetersthroughthepurchaseofcoatinglinesandtheupgradingandtransformationofexistingproductionlines.Theprojecthasbeenputintoproduction. | 16,400,000 | Theprojecthasjustbeencompletedandtransferredtofixedassets,andtheincomehasnotbeenreflectedyet. | Theprojecthasjustbeencompletedandtransferredtofixedassets,andtheincomehasnotbeenreflectedyet. | April30,2020 | Noticenumber:2020-023 |
| Wujiang | Self-built | Yes | Manufacturing | 18,921,344 | 70,687,326 | Ownfunds | CSGplanstobuildafull-process | 50,490,000 | Noprofitas | Noprofitas | June24, | Notice |
| ArchitecturalGlassnewlybuildingintelligentmanufacturingplantconstructionproject | industry | andloansfromfinancialinstitutions | flexibleautomatedproductionlinecoveringcutting,edging,tempering,insulatingandotherprocessesinWujiangCSGEastChinaArchitecturalGlassCo.,Ltd.,usingthereservedindustriallandinthefactoryarea.Thenewfactorybuildingareais31,968squaremeters,andthenewintelligentmanufacturingproductionlinehasanannualoutputof1.2millionsquaremetersofLow-Eenergy-savinginsulatingglass.Theprojectisunderconstruction. | theprojectisintheconstructionperiod. | theprojectisintheconstructionperiod. | 2020 | number:2020-051 | |||||
| WujiangFloatLightweightandHigh-efficiencydouble-glassprocessingproductionlineconstructionproject | Self-built | Yes | Manufacturingindustry | 69,360,586 | 109,762,834 | Ownfundsandloansfromfinancialinstitutions | CSGplanstobuildtwolightweightandhigh-efficiencydouble-glassprocessingproductionlinesinWujiangFloat.Aftertheproductionlineiscompleted,itisexpectedtoadd2millionsquaremetersofdouble-glassproductioncapacitypermonth,withanannualproductioncapacityof24millionsquaremeters.Aftertheprojectiscompleted,itwillgivefullplaytoWujiangFloat’stechnicaladvantagesofdouble-glass,enhancemarketcompetitiveness,andexpandthescaleoftheCompany'sbenefits.Theprojectisunderconstruction. | 47,850,000 | Noprofitastheprojectisintheconstructionperiod. | Noprofitastheprojectisintheconstructionperiod. | August24,2020 | Noticenumber:2020-061 |
| Xi'anCSGEnergy-saving | Self-built | Yes | Manufacturing | 811,279 | 1,148,618 | Ownfundsandloans | CSGGroupplanstoinvestinXi'an,ShanxiProvinceforbuildinga | 42,220,000 | Noprofitastheproject | Noprofitastheprojectis | November7, | Noticenumber: |
| glassproductionlineproject | industry | fromfinancialinstitutions | high-endenergy-savingglassproductionlinewithanannualoutputof2.1millionsquaremetersofinsulatingenergy-savingglass,anda3.5millionsquaremeterenergy-savingglassproductionlinewithcoatedenergy-savingproducts.Theprojectisunderconstruction. | isintheconstructionperiod. | inthepreparationperiod. | 2020 | 2020-070 | |||||
| HebeiPanelGlassultra-thinelectronicglassLineIIconstructionproject | Self-built | Yes | Manufacturingindustry | 51,867,735 | 76,272,085 | Ownfundsandloansfromfinancialinstitutions | CSGplanstobuildanultra-thinelectronicglassproductionlinewithadailymeltingcapacityof110tonsandacomplementaryR&DcenterinHebeiPanelGlass.Theprojectisunderconstruction. | 46,710,000 | Noprofitastheprojectisintheconstructionperiod. | Noprofitastheprojectisintheconstructionperiod. | March27,2021 | Noticenumber:2021-008 |
| XianningCSG1200T/DPhotovoltaicPackagingMaterialProductionLineProject | Self-built | Yes | Manufacturingindustry | 221,289,643 | 287,738,732 | Ownfundsandloansfromfinancialinstitutions | CSGplanstobuildaphotovoltaickilnwithadailymeltingcapacityof1,200tonsandcomplementarydeepprocessinglinesinXianningCSG.Theprojectisunderconstruction. | 128,350,000 | Noprofitastheprojectisintheconstructionperiod. | Noprofitastheprojectisintheconstructionperiod. | March27,2021 | Noticenumber:2021-008 |
| DongguanCSGSolarDouble-GlassCalenderingLineTechnicalTransformationandUpgradeProject | Self-built | Yes | Manufacturingindustry | 69,857,051 | 72,246,922 | Ownfundsandloansfromfinancialinstitutions | CSGplanstocarryoutcoldrepairandtechnicaltransformationofthe650T/Dlineultra-whitesolarkilninDongguanSolarPhaseIII,andstartthetechnicaltransformationandupgradeprojectofdouble-glasscalenderingline.Aftertheprojectiscompleted,itwillensurethattheproductquality,output | 60,670,000 | Noprofitastheprojectisintheconstructionperiod. | Noprofitastheprojectisintheconstructionperiod. | June8,2021 | Noticenumber:2021-025 |
| efficiency,energyconsumptionlevelandcostadvantageareattheleadingdomesticlevel.Theprojectisunderconstruction. | ||||||||||||
| CSGEastChinaheadquartersbuilding | Self-built | Yes | Manufacturingindustry | 899,257 | 899,257 | Ownfundsandloansfromfinancialinstitutions | CSGGroupplanstoinvestintheconstructionofCSGEastChinaHeadquartersBuildinginWujiangDistrict,SuzhouCity,JiangsuProvince,astheR&D,marketing,exhibition,officeandcooperationcenterofupstreamanddownstreamenterprisesintheindustrychaininEastChina,soastomeettheneedsofCSG'sexpandingbusinessscaleandincreasingpersonnelinEastChinainthefuture. | Theprojectisintheconstructionperiod. | Theprojectisintheconstructionperiod. | August27,2021 | Noticenumber:2021-039 | |
| CSGGuangxiBeihaiPhotovoltaicGreenEnergyIndustrialParkProject(PhaseI) | Self-built | Yes | Manufacturingindustry | 2,822,610 | 3,205,607 | Ownfundsandloansfromfinancialinstitutions | CSGplanstoinvestintheconstructionofCSGGuangxiBeihaiPhotovoltaicGreenEnergyIndustrialParkprojectinBeihaiTieshangangIndustrialPark,LonggangNewDistrict,GuangxiZhuangAutonomousRegion.PhaseIoftheprojectincludestwo1,200t/dOne-kiln&Five-linephotovoltaicrolledglassproductionlinesandcomplementaryphotovoltaicglassprocessingproductionline,aswellascomplementaryR&Dcenter,2.5GWphotovoltaicmoduleproductionline,one700t/done-kilntwo-line | 557,640,000 | Noprofitastheprojectisintheconstructionperiod. | Noprofitastheprojectisintheconstructionperiod. | September10,2021 | Noticenumber:2021-041 |
| productionlineforelectronicglassandphotoelectricglass,complementaryquartzsandmineandpurificationprocessingline.Theprojectisunderconstruction. | ||||||||||||
| HefeiCSGEnergy-savingGlassIntelligentManufacturingIndustryBaseProject | Self-built | Yes | Manufacturingindustry | 820,064 | 820,064 | Ownfundsandloansfromfinancialinstitutions | CSGplanstoinvestintheconstructionofaCSGenergy-savingglassintelligentmanufacturingindustrialbaseinHefeiCity,AnhuiProvince,usinganewgenerationofintelligentmanufacturingtechnologiesandprocessestobuildanenergy-savingglassprocessingcenter,andtofurtherexpandthemarketlayoutofCSGincentralChina,therebytobetterservethemarketandcustomers,andservethenational"CarbonPeakingandCarbonNeutralitygoals".Theprojectisunderconstruction. | 46,660,000 | Noprofitastheprojectisintheconstructionperiod. | Noprofitastheprojectisintheconstructionperiod. | October15,2021 | Noticenumber:2021-043 |
| XianningCSGEnergy-savingGlassCo.,Ltd.ProductionLineReconstructionandExpansionConstructionProject | Self-built | Yes | Manufacturingindustry | 3,276,913 | 3,423,496 | Ownfundsandloansfromfinancialinstitutions | CSGplanstousethesurpluslandintheparktoimplementtheproductionlinereconstructionandexpansionprojectinXianningCSGEnergy-SavingGlassCo.,Ltd.,tocarryouttechnicalrenovationandupgradeoftheexistingcoatingequipment,expandtheworkshopandsupplementthecomplementaryprocessingequipment,andsimultaneouslyimplementthefull | 27,130,000 | Noprofitastheprojectisintheconstructionperiod. | Noprofitastheprojectisintheconstructionperiod. | December3,2021 | Noticenumber:2021-051 |
| intelligentconnection.Afterthecompletionoftheproject,itisexpectedthatthecompany'sannualproductioncapacityofinsulatingglasswillincreaseby1.2millionsquaremeters,andtheannualproductioncapacityofcoatedglasswillincreaseby2.42millionsquaremeters.Theprojectisunderconstruction. | ||||||||||||
| QingyuanCSGEnergy-savingNewMaterialsCo.,Ltd.PhaseIUpgradingandTechnicalTransformationProject | Self-built | Yes | Manufacturingindustry | 4,614,306 | 20,225,415 | Ownfundsandloansfromfinancialinstitutions | CSGplanstocarryouttechnicaltransformationofphaseIproductionlineofQingyuanCSGEnergy-savingNewMaterialCo.,Ltd.,andachievesfurnaceandhardwareupgradesthroughtechnologicalinnovationtomeetthetechnologicalrequirementsoftheGroup'snewlydevelopedthird-generationhigh-aluminaproducts(KK8).ThistechnicalupgradewillfurtherpromotethetechnologicalinnovationofCSGinthefieldofelectronicglass,openupthetechnologicalgenerationgapwithdomesticbusinesspartners,seizethemarketshareofimportedproducts,andspeeduptheprocessofimportsubstitution.Theprojectisunderconstruction. | 60,210,000 | Noprofitastheprojectisintheconstructionperiod. | Noprofitastheprojectisintheconstructionperiod. | December25,2021 | Noticenumber:2021-053 |
| DongguanSolarG6/G7Line | Self-built | Yes | Manufacturing | 3,303,071 | 3,303,071 | Ownfundsandloans | CSGGroupplanstoupgradetheprocessandequipmentofthetwo | 41,560,000 | Noprofitastheproject | Noprofitastheprojectis | March29, | Noticenumber: |
| ProcessandEquipmentUpgradingProject | industry | fromfinancialinstitutions | existingglassdeep-processingproductionlines(G6/G7lines)ofDongguanCSGSolarGlassCo.,Ltd.tomeettheproductionneedsoflarge-sizeglassanddouble-platedproducts.Afterthecompletionoftheproject,itwillgivefullplaytothetechnicaladvantagesofDongguansolardoubleglasstechnology,enhancemarketcompetitivenessandexpandtheCompany'sbenefitscale.Theprojectisunderconstruction. | isintheconstructionperiod. | intheconstructionperiod. | 2022 | 2022-006 | |||||
| High-puritycrystallinesiliconprojectwithanannualoutputof50,000tonsinHaixiPrefecture,QinghaiProvince | Self-built | Yes | Manufacturingindustry | 0 | 0 | Convertiblebonds,ownfundsandloansfromfinancialinstitutions | CSGplanstobuildanewhigh-puritycrystallinesiliconproductionlinewithanannualoutputof50,000tonsinHaixiPrefecture,QinghaiProvince.Qinghaiisnotonlyrichingreenpowerresources,butalsooneoftheregionswiththegreatestdevelopmentpotentialforcleanenergy,especiallyphotovoltaicpowergenerationinthefuture.Therefore,thedeploymentofhigh-puritycrystallinesiliconproductionlinesinQinghaiProvinceisofgreatstrategicsignificancetothedevelopmentofCSG'snewenergyindustry. | 863,280,000 | Theprojectisinthepreparatorystage. | Theprojectisinthepreparatorystage. | June23,2022 | Noticenumber:2022-024 |
| Total | -- | -- | -- | 1,367,125,046 | 2,827,358,622 | -- | -- | 2,635,090,000 | -- | -- | -- | -- |
4.Financialassetsinvestment
(1)Securitiesinvestment
□Applicable√NotapplicableTherewasnosecuritiesinvestmentduringthereportperiod.
(2)Derivativeinvestment
□Applicable√NotapplicableTherewasnoderivativeinvestmentduringthereportperiod.
5.Useofraisedfund
□Applicable√NotapplicableTherewasnouseofraisedfundduringthereportperiod.
VII.Saleofmajorassetsandequity
1.Saleofmajorassets
□Applicable√NotapplicableTheCompanydidnotsellmajorassetsduringthereportingperiod.
2.Saleofmajorequity
□Applicable√Notapplicable
VIII.Analysisofmainsubsidiariesandjoint-stockcompanies
√Applicable□NotapplicableParticularaboutmainsubsidiariesandjoint-stockcompanieswhichhaveinfluenceontheCompany'snetprofitbyover10%
Unit:RMB
| Nameofcompany | Type | Mainbusiness | Registeredcapital | Totalassets | Netassets | Operatingincome | Operatingprofit | Netprofit |
| YichangCSGPolysiliconCo.,Ltd. | Subsidiary | Productionandsalesofhigh-puritysiliconmaterialproducts | 1,467.98million | 2,285,207,511 | 383,591,470 | 1,070,634,440 | 318,624,155 | 267,683,747 |
| ChengduCSG | Subsidiary | Development, | 260 | 1,015,005,609 | 508,429,036 | 640,951,236 | 116,863,964 | 100,907,607 |
| GlassCo.,Ltd. | manufactureandsalesofvariousspecialglass | million | ||||||
| HebeiCSGGlassCo.,Ltd. | Subsidiary | Manufactureandsalesofvariousspecialglass | USD48.06million | 1,137,135,785 | 951,796,503 | 540,267,239 | 117,254,772 | 100,027,129 |
| WujiangCSGGlassCo.,Ltd. | Subsidiary | Manufactureandsalesofvariousspecialglass | 565.04million | 1,962,966,929 | 1,599,080,155 | 851,318,321 | 99,130,927 | 83,140,150 |
| XianningCSGGlassCo.,Ltd. | Subsidiary | Manufactureandsalesofvariousspecialglass | 235million | 1,565,679,800 | 1,021,712,200 | 484,653,130 | 93,879,939 | 80,211,229 |
Particularsaboutsubsidiariesobtainedordisposedinreportperiod
□Applicable√Notapplicable
IX.StructuredmainbodiescontrolledbytheCompany
□Applicable√Notapplicable
X.RiskstheCompanyfacesandcountermeasures
In2022,inthefaceof“NewNormal”ofdomesticeconomicdevelopmentandthetaskofbuildinga“CenturyCSG”,theCompanywillfacethefollowingrisksandchallenges:
①Theepidemicsituationathomeandabroadandtheinternationalpoliticalenvironmentarestillfacingmanyuncertainties.Affectedbytherepeatedoutbreaksoftheepidemicandthecomplicatedinternationalpoliticalenvironment,thedomesticeconomystillfacesmanychallengesanduncertainties.Inthesecondhalfof2022,theCompanywillcontinuetonormalizeepidemicpreventionandcontrol,strengthenitsattentiontothemarket,timelyadjustthestrategyaccordingtomarketchanges,andstrivetoachievetheannualcoreworkobjectivesthroughsteadyoperation.
②Theglassindustryisfacingthepressureoffiercecompetitionforsimilarproducts,risingrawmaterialsandfuelsandrisinglaborcosts.Thefloatglassindustryisfacingthepressureofastagedslowdowninthedownstreamarchitecturalglassmarketdemand;thephotovoltaicglassindustryisfacingthepressureofshort-termmismatchbetweensupplyanddemandandfluctuationsinforeignsituations.Theelectronicglassanddisplaydeviceindustryisfacingtheriskofacceleratingtheupgradingofmaterialtechnologyduetothecontinuousandrapiditerativeupgradingofdownstreamapplicationscenarios;inthesecondhalfof2022,withthesuccessivecommissioningofnewhigh-puritycrystallinesiliconproductioncapacityandthereleaseofproductioncapacity,thedownwardpotentialofhigh-puritycrystallinesiliconpriceswillincrease;theoverallimbalanceofthesolarenergysupplychainisdifficulttobreakintheshortterm,andthepriceofupstreamlinksisoperatingatarelativelyhighlevel,whichputspressureonthecostofmid-streamanddownstreambusiness;inordertodealwiththeaboverisks,theCompanywilltakethefollowingmeasures:
A.Intheflatglasssegment,theCompanywillimproveprofitabilityandenhanceindustrycompetitivenessthroughcontinuousleanmanagementanddifferentiatedoperations,productstructureoptimization,etc.B.Inthearchitecturalglasssegment,theCompanywillacceleratethepaceofdigital,networkedandintelligenttransformationofthe
manufacturingindustry,andreduceproductionmanpower,materialandenergyconsumption,Strengthenthedevelopmentofhigh-endmarketsandoverseasmarkets,activelyrespondtomarketchanges,continuetodeepenthemarketandrefinethemarketlayout,increasenewproductsandtheapplicationofnewtechnologies,improveservicecapabilities,andgivefullplaytoquality,technologyandbrandadvantages,meanwhile,carryoutindustrialchainextensionandmaintainthecompany'sdominantpositionintheindustry.C.Inthesolarenergysegment,theCompanywillstrengthentheintegrationofresourcesinthewholeindustrialchain,increaseR&Dinvestment,strengthenoperationmanagement,andmaintainenterprisecompetitivenessinthemarketsegmentationfield;paycloseattentiontomarketchanges,vigorouslycarryoutcostreductionandefficiencyincreaseactivities,implementenergy-savingandconsumptionreductionmeasures,timelyupgradeandreplaceequipment,improveproductionefficiencyandensuretheCompany'sbenefits;expandtheindustrialscaleandincreasethemarketsharebyinvestinginnewproductionlines.D.Intheelectronicglassanddisplaysegment,theCompanywillincreasetheresearchanddevelopmentofnewtechnologiesandnewproducts,maintaintheleadingedgeoftheindustrytechnology,andfurtherstrengthenthedevelopmentoftheterminalmarkettoimprovetheindustrialprofitability.③Riskoffluctuationofforeignexchangerate:Atpresent,nearly7.79%ofthesalesrevenueoftheCompanyisfromoverseas,inthefuture,theCompanywillfurtherdevelopoverseasbusiness,andtherefore,thefluctuationofexchangeratewillbringcertainrisktotheoperationoftheCompany.Tocopewithsuchrisk,theCompanywillsettleexchangeintimeandusesafeandeffectiveriskevadinginstrumentandproducttorelativelylockexchangerateandreducetheriskcausedbyfluctuationofexchangerate.
SectionIV.CorporateGovernance
I.Particularsaboutannualgeneralmeetingandextraordinarygeneralmeetingheldinthereportperiod
1.ParticularsaboutShareholders'GeneralMeetinginthereportperiod
| Meetingsession | Typeofmeeting | Investorparticipationratio | Dateofthemeeting | Disclosuredate | Disclosureindex |
| TheFirstExtraordinaryGeneralShareholders’Meetingof2022 | ExtraordinaryGeneralShareholders’Meeting | 29.04% | February16,2022 | February17,2022 | AnnouncementonResolutionsoftheFirstExtraordinaryGeneralShareholders’Meetingof2022（AnnouncementNo.:2022-004） |
| AnnualGeneralShareholders’Meetingof2021 | AnnualGeneralShareholders’Meeting | 27.69% | May16,2022 | May17,2022 | AnnouncementonResolutionsofAnnualGeneralShareholders’Meetingof2021（AnnouncementNo.:2022-020） |
2.Extraordinarygeneralmeetingwhichisrequestedtoconvenebythepreferredshareholderswhohaveresumedthevotingright
□Applicable√Notapplicable
II.Changesindirectors,supervisorsandseniormanagementofthecompany
√Applicable□Notapplicable
| Name | Position | Type | Date | Reason |
| ShenChengfang | Director | Beelected | August3,2022 | Byelectionofdirectors |
| HeJin | ExecutiveVicePresident | Appointment | May16,2022 | AppointExecutiveVicePresident |
| PerformasCEO | Appointment | August15,2022 | DuetothevacancyoftheCEO,Mr.HeJin,ExecutiveVicePresident,temporarilyperformsthedutiesofCEO. | |
| WangWenxin | VicePresidentandChiefFinancialOfficer | Appointment | May16,2022 | AppointmentofVicePresidentandChiefFinancialOfficer |
| PerformasSecretaryofBoardofDirectors | Appointment | July8,2022 | Duetothevacancyofthesecretaryofboardofdirectors,Ms.WangWenxin,VicePresidentandChiefFinancialOfficer,temporarilyperformsthedutiesofSecretaryofBoardofDirectors. | |
| ZhangJinshun | Director | Postleaving | June28,2022 | Voluntaryturnover |
| WangJian | Director | Postleaving | August3,2022 | Beousted |
| CEO | Dismissed | August15,2022 | Beousted | |
| YangXinyu | SecretaryofBoardofDirectors | Dismissed | July2,2022 | Voluntarilyresigned |
III.Profitdistributionandconversionofcapitalreservesintoequitycapitalinthereportperiod
□Applicable√NotapplicableTheCompanyhasnoplansofcashdividenddistribution,bonussharesbeingsentorconvertingcapitalreserveintosharecapital.
IV.ImplementationoftheCompany’sstockincentiveplan,employeestockownershipplanorotheremployeeincentives
□Applicable√NotapplicableDuringthereportperiod,theCompanyhadnoequityincentiveplan,employeestockownershipplanorotheremployeeincentivemeasuresandtheirimplementation.
SectionV.EnvironmentandsocialresponsibilityI.Majorenvironmentalissues
Whetherthelistedcompanyanditssubsidiariesbelongtothekeypollutantdischargeunitsannouncedbytheenvironmentalprotectiondepartment
√Yes□NoTheCompanyneedstocomplywiththedisclosurerequirementsofnon-metalbuildingmaterialsrelatedindustriesin"ShenzhenStockExchangeListedCompaniesSelf-disciplineSupervisionGuideNo.3-IndustryInformationDisclosure"EnvironmentalprotectionrelatedpoliciesandindustrystandardsTheCompanyimplementsthe"EnvironmentalProtectionLawofthePeople'sRepublicofChina","theLawofthePeople'sRepublicofChinaonthePreventionandControlofAirPollution",the"LawofthePeople'sRepublicofChinaonthePreventionandControlofWaterPollution",the"LawofthePeople'sRepublicofChinaonthePreventionandControlofNoisePollution",andthe"EnvironmentalProtectionTaxLawofthePeople'sRepublicofChina"andotherrelevantenvironmentalprotectionlawsandregulations,andimplementsthe"FlatGlassIndustryAirPollutantEmissionStandard","ElectronicGlassWorkingAirPollutantEmissionStandard","AirPollutantComprehensiveEmissionStandard","SewageComprehensiveEmissionStandard","EnvironmentalNoiseEmissionStandardsattheBoundaryofIndustrialEnterprises"andothernational,industryandlocalpollutantdischargestandards.AdministrativelicenseforenvironmentalprotectionTheconstructionprojectsofeachsubsidiarycarriedoutenvironmentalimpactassessmentworkandobtainEIAapprovalinstrictaccordancewiththerequirementsofthe"EnvironmentImpactAssessmentLawofthePeople'sRepublicofChina"andthe"CatalogueofClassifiedManagementofEnvironmentalImpactAssessmentofConstructionProjects".Duringtheconstructionoftheproject,theconstructionofpollutionpreventionandcontrolfacilitiesshallbecarriedoutinstrictaccordancewiththerequirementsoftheproject"ThreeSimultaneous"andputintoproductionanduseatthesametimeasthemainproject.Duringthetrialproductionperiod,theinspectionandacceptanceshallbeorganizedinaccordancewiththerelevantregulationsonenvironmentalprotectionacceptanceofthecompletionoftheconstructionprojectinordertoensurethattheconstructionprojectcompletestheinspectionandacceptanceworkbeforeitisofficiallyputintooperation.Allsubsidiarieshaveobtainedthepollutantdischargepermitandarewithinthevalidityperiod,andregularlysubmittheimplementationreportofpollutantdischargepermit.Industrialemissionstandardsandspecificconditionsofpollutantemissioninvolvedinproductionandoperationactivities
| NameofCompanyorsubsidiary | Namesofmainpollutantsandcharacteristicpollutants | Wayofemission | NumberofExhaustvent | Exhaustventdistribution | Emissionconcentration | Implementationofpollutantemissionstandards | Totalemission | Approvedtotalemission | Excessiveemissions |
| XianningCSGGlassCo., | Dust | Continuous/Intermittent | 16 | Productionplantarea | ≤30mg/m? | EmissionStandard | Particulates：9.34t | Particulates：96.82t/a | N/A |
| Soot | ≤25mg/m? |
| Ltd. | SO2 | ≤200mg/m? | ofAirPollutantsforFlatGlassIndustry(GB26453-2011) | 109.84t | 636.5t/a | ||||
| NOx | ≤350mg/m? | 198.67t | 1113.89t/a | ||||||
| ChengduCSGGlassCo.,Ltd | Dust | Continuous/Intermittent | 15 | Productionplantarea | ≤20mg/m? | EmissionStandardofAirPollutantsforFlatGlassIndustry(GB26453-2011) | Particulates：7.56t | Particulates：142.114t/a | N/A |
| Soot | ≤20mg/m? | ||||||||
| SO2 | ≤200mg/m? | 69.32t | 1136.917t/a | ||||||
| NOx | ≤350mg/m? | 237.49t | 1989.609t/a | ||||||
| HebeiCSGGlassCo.,Ltd. | Dust | Continuous/Intermittent | 16 | Productionplantarea | ≤10mg/m? | UltraLowEmissionStandardofAirPollutantsforFlatGlassIndustry(DB13/2168-2020) | Particulates：4.079t | Particulates：59.78t/a | N/A |
| Soot | ≤10mg/m? | ||||||||
| SO2 | ≤50mg/m? | 26.326t | 498.18t/a | ||||||
| NOx | ≤200mg/m? | 116.839t | 982.2t/a | ||||||
| WujiangCSGGlassCo.,Ltd | Dust | Continuous/Intermittent | 39 | Productionplantarea | ≤15mg/m? | EmissionStandardofAirPollutantsforFlatGlassIndustry(GB26453-2011) | Particulates：5.6t | Particulates：76.91t/a | N/A |
| Soot | ≤15mg/m? | ||||||||
| SO2 | ≤50mg/m? | 11.12t | 238.28t/a | ||||||
| NOx | ≤150mg/m? | 136.07t | 818.04t/a | ||||||
| DongguanCSGSolarGlassCo.,Ltd. | Dust | Continuous/Intermittent | 22 | Productionplantarea | ≤20mg/m? | EmissionStandardofAirPollutantsforFlatGlassIndustry（DB44-2159-2019） | Particulates：1.53t | Particulates：34.85t/a | N/A |
| Soot | ≤30mg/m? | ||||||||
| SO2 | ≤400mg/m? | 36.77t | 300.99t/a | ||||||
| NOx | ≤550mg/m? | 69.79t | 535.67t/a | ||||||
| HebeiPanelGlassCo.,Ltd. | Dust | Continuous/Intermittent | 5 | Productionplantarea | ≤30mg/m? | PollutantEmissionStandardforElectricGlassIndustry（GB29495-2013） | Particulates：0.071t | Particulates：8.2125t/a | N/A |
| Soot | ≤10mg/m? | ||||||||
| SO2 | ≤50mg/m? | 0.894t | 22t/a | ||||||
| NOx | ≤200mg/m? | 2.236t | 39.4t/a | ||||||
| XianningCSGPhotovoltaicGlassCo., | Dust | Continuous/Intermittent | 6 | Productionplantarea | ≤20mg/m? | PollutantEmissionStandardforElectricGlass | Particulates：0.8987t | Particulates：17.656t/a | N/A |
| Soot | ≤15mg/m? | ||||||||
| SO2 | ≤10mg/m? | 0.0255t | 65.6t/a |
| Ltd | NOx | ≤330mg/m? | Industry（GB29495-2013） | 28.3474t | 163.81t/a | ||||
| DongguanCSGArchitecturalGlassCo.,Ltd. | pH | Intermittent | 1 | Sewagevent | 6~9 | GuangdongProvinceWaterPollutantEmissionLimit（DB44/26-2001） | / | / | N/A |
| COD | 5mg/L | 3.348t | 5.4t/a | ||||||
| Ammonianitrogen | 0.424mg/L | 0.0891t | 0.196t/a | ||||||
| TianjinCSGEnergy-SavingGlassCo.,Ltd. | pH | Intermittent | 2 | Sewagevent | 6~9 | SewageIntegratedEmissionStandards（Level3StandardDB12/356-2018) | / | / | N/A |
| COD | 16mg/L | 1.19104t | 500t/a | ||||||
| Ammonianitrogen | 0.178mg/L | 0.01325t | 45t/a | ||||||
| WujiangCSGEastChinaArchitecturalGlassCo.,Ltd. | pH | Intermittent | 1 | Sewagevent | 6~9 | SewageIntegratedEmissionStandardsLevel3Standard(GB8978-1996) | / | / | N/A |
| COD | ≤500mg/L | 14.28t | 40.59t/a | ||||||
| Ammonianitrogen | ≤45mg/L | 0.0368t | 0.1444t/a | ||||||
| DongguanCSGPV-techCo.,Ltd. | COD | Intermittent | 20 | Sewagevent，Productionplantarea | ≤70mg/L | GuangdongProvinceWaterPollutantEmissionLimit（DB44/26-2001） | 0.92t | 2.44t/a | N/A |
| NOx | ≤30mg/m3 | PollutantEmissionStandardforBatteryIndustry（GB30484-2013） | 1.729t | 33.15t/a | |||||
| VOCs | VOCs≤30mg/m? | VOCEmissionStandardforFurniture | 0.76t | 1.93t/a |
| ManufacturingIndustry（DB44/814-2010） | |||||||||
| YichangCSGDisplayCo.,Ltd. | COD | Intermittent | 8 | Sewagevent；Productionplantarea | ≤70mg/L | SewageIntegratedEmissionStandardsLevel3Standard(GB8978-1996)、TheIntegratedEmissionStandardofAirPollutants（GB16297-1996） | 22.74t | 375.17t/a | N/A |
| pH | 6~9 | / | / | ||||||
| NOx | ≤240mg/m3 | 0.423t | 38.28t/a | ||||||
| Particulates | ≤240mg/m3 | 4.299t | 32.724t/a |
TreatmentofpollutantsAllsubsidiarieshavebuiltpollutionpreventionandcontrolfacilitiesinaccordancewiththeenvironmentalimpactassessmentdocumentsofconstructionprojectsandrelevantspecifications,andadoptedairpollutioncontrolprocesssuchaselectrostaticprecipitator+SCRdenitrification+semi-drydesulfurization+bagdustremoval,ceramicfiltercartridgedesulfurization,denitrificationanddustremovalintegration,bagdustremovalandwatertreatmentprocesssuchasneutralization+precipitation,fluidizedbed,andbiologicaloxidation,forwhichthetechnologiesusedareallinlinewiththerequirementsofthe"GuidelinesforFeasibleTechnologiesforPollutionPreventionandControlinGlassManufacturingIndustry"andotherdocuments.Inthefirsthalfof2022,thepollutioncontrolfacilitieswereingoodoperationandthepollutantsweredischargedstablyuptothestandard.Theairpollutantemissionconcentrationsofmostofthesubsidiarieswerelowerthan50%oftheemissionstandardandenjoyedthepreferentialpolicyofhalvingenvironmentaltax.Thepollutantemissionsofmanysubsidiariesreachedandimplementedlocalultra-lowemissionstandards.Environmentalself-monitoringschemeThesubsidiarieshavebuiltandoperatedon-linemonitoringdevicesforwastewaterandexhaustgasinaccordancewithnationallawsandregulations,environmentalimpactassessmentdocumentsofconstructionprojectsandtherequirementsoftheirreplies,regularlycarriedoutcomparisonandreviewoftheeffectivenessofon-linemonitoringfacilities,andentrustedathird-partyunittocarryoutmanualenvironmentalmonitoringtocomprehensivelymonitorthepollutantdischarge.Themonitoringfrequencyisimplementedinaccordancewithrelevantmonitoringtechnicalguidelinesorpollutantdischargepermits.EmergencyresponseplansystemofenvironmentincidentInaccordancewiththenationalrequirements,allsubsidiariespreparedemergencyenvironmentalresponseplanforenvironmentincident,organizedandcarriedoutexpertevaluationandfiledwiththelocalenvironmentalprotectiondepartmentasrequired,andconductedtheemergencydrillagainstenvironmentalincidentsasplanned.Andtherewerenomajorenvironmentalincidents
occurredinthefirsthalfof2022.InvestmentinenvironmentalgovernanceandprotectionandpaymentofenvironmentalprotectiontaxCSGhasalwaysattachedgreatimportancetoenvironmentalprotectionwork,activelyfulfilleditssocialresponsibilities,andadheredtothedevelopmentpathofenergyconservation,emissionreduction,lowcarbonandenvironmentalprotection.Toreducethegenerationofpollutantsfromthesource,allglasskilnsusenaturalgasasfuel,bywhichitisthefirstenterpriseinglassindustrytousecleanenergycompletelyasfuel.Thesubsidiarieshaveconstructedpollutionpreventionandcontrolfacilitiesinaccordancewiththeenvironmentalimpactassessmentdocumentsofconstructionprojectsandrelevantspecifications,andputthemintoproductionanduseatthesametimeasthemainworksoftheconstructionprojects.Inrecentyears,theGrouphasinvestedalotoffundstoimprovethelevelofenvironmentalprotectionandpollutioncontrol.Since2018,ithasinvestedheavilyintheconstructionofdesulfurizationfacilitiesandbackupdenitrificationfacilitieseveryyear,bywhich,theconcentrationandtotalamountofpollutantemissionshavefurtherdroppedsignificantly,manysubsidiarieshavereachedandimplementedlocalultra-lowemissionstandards(particulatematter≤10mg/m
,NOX≤200mg/m
,SO
≤50mg/m
),andothersubsidiaries'pollutantemissionshavebeenfarlowerthanthenationalemissionstandards(particulatematter≤50mg/m3,NOX≤700mg/m
,SO
≤400mg/m
).Enterprisesinvolvedindirectlydischargingpollutantsintotheenvironmenthavedeclaredandpaidenvironmentaltaxestothelocaltaxauthoritiesinfullandontime.Measurestakentoreducecarbonemissionsduringthereportperiodandtheireffects
√Applicable□NotapplicableTheCompanyhascontinuouslystrengthenedthecomprehensiveutilizationandmanagementofresourcesandenergy,activelyfulfilledthecorporatesocialresponsibility,takenvariousmeasurestosaveenergyandreducecarbonemissions,makingourowncontributionstotheCountry'sgoalof"Carbonpeaking"and"Carbonneutrality".TheGroup'sOperationDepartmentTheGroupOperationDepartmenthasspeciallyestablishedanenergymanagementteam,whichisresponsibleforsupervisingtheenergyconsumptionmanagementofvarioussubsidiaries,andpromotestheenergyconsumptionperunitproductandcarbonemissionperunitproductoftheGroup'svariousproductstoreachtheadvancedlevelintheindustry.Atpresent,theenergyconsumptionlevelofmostglassmeltingfurnacesintheflatglassbusinessofCSGhasreachedtheadvancedlevelstipulatedbythenationalstandard.Atthesametime,CSGhasalwayspaidattentiontotheutilizationofwasteheatinflatglassfactories,andeachproductionbasehasbuiltwasteheatboilersandwasteheatpowerplants;CSGisalsoactivelydevelopingphotovoltaicpowerplants,mostofwhichhavephotovoltaicpowerplantsontheroofsoffactories.Inthefirsthalfof2022,theGroup'swasteheatpowergenerationandphotovoltaicpowergenerationtotaledabout180millionkwh,equivalenttoreducingcarbondioxideemissionsbymorethan100,000tons.AdministrativepenaltyimposedbyenvironmentalprotectiondepartmentNilOtherenvironmentalinformationthatshouldbedisclosedNilEnvironmentalincidentsinthelistedcompanyInthefirsthalfof2022,noenvironmentalaccidentsoccurred.
II.Socialresponsibility
Inthefirsthalfof2022,theCompanyfocusedonthefollowingtasksinfulfillingitssocialresponsibilities:
1.Preventandeliminateoccupationalhazardsandprotectemployees'healthCSGalwaysadherestotheconceptof"SafetyFirst,EnvironmentalProtectionFirstandGreenDevelopment",establishesSafetyandEnvironmentalProtectionDepartmenttocoordinatethesafetyandenvironmentalprotectionmanagement,establishestheGroup'sthree-levelcontrolsystemofsafety,environmentalprotection,fireprotectionandoccupationalhealth,hasacompletesafetymanagementstructureandsafetymanagementsystem,strictlyimplementsthesafetyproductionresponsibilitysystemofallemployees,andallemployeeshavesignedthesafetyproductionresponsibilitystatement.TheCompanyattachesgreatimportancetothesafetytrainingofemployees,strictlystrengthensthethree-levelsafetyeducationandtrainingofnewemployeesandthecontinuingeducationofoldemployees,andorganizesvariousspecialtrainingsaccordingtothecharacteristicsofemployees'poststoimprovetheirsafetyliteracyandsafetyskills.Themanagementofspecialequipmentandspecialoperationsshallbestrictlycarriedout,andspecialoperatorsshallworkwithcertificates.Specialoperationscanonlybecarriedoutafterapprovalandconfirmationofsafetymeasures.Regularlycarryoutemergencydrills,strengthentheconstructionofemergencyresponsecapabilities,improveemergencyresponsecapabilities,eliminatehiddendangersinthebud,andresolutelydefendthelastlineofdefense.Eachsubsidiaryhasestablishedasystemfortheextractionanduseofproductionsafetyexpenses,whichisstrictlyinaccordancewiththerequirementsofrelevantlawsandregulationstoextractandstandardizetheuseofproductionsafetyexpenses.TheCompanyhasalsocarriedoutvarioushiddendangersinvestigationoftheheadquartersandsubsidiaries,acceptedthesupervisionandinspectionoflocalemergencymanagementdepartments,andorganizedtherectificationandimprovementofvarioushiddendangers.Inaddition,theCompanyattachesgreatimportancetothestandardizationconstructionandoperationofsafetymanagement.AsoftheendofJune2022,CSGhasobtainedsafetystandardizationcertificatesfor18subsidiaries,ofwhich6subsidiarieshavereachedthesecondlevelofsafetyproductionstandardization,12subsidiarieshavereachedthethirdlevelofsafetyproductionstandardization,andafewothersubsidiariesarealsoactivelycreatingandapplying.
2.ProtecttheenvironmentandpromotesustainabledevelopmentAsofthefirsthalfof2022,6subsidiariesofCSGhavebeenratedasnational-level"GreenFactories".TheCompanycontinuestostrengthenthecomprehensiveutilizationandmanagementofresourcesandenergy,takesvariousmeasurestosaveenergy,reduceemissionsandreducecarbon,andmakescontributionstotheCountry'sgoalof"Carbonpeaking"and"Carbonneutrality".TheGroup'sOperationDepartmentTheGroupOperationDepartmenthasspeciallyestablishedanenergymanagementteam,whichisresponsibleforsupervisingtheenergyconsumptionmanagementofvarioussubsidiaries,andpromotestheenergyconsumptionperunitproductandcarbonemissionperunitproductoftheGroup'svariousproductstoreachtheadvancedlevelintheindustry.Atpresent,theenergyconsumptionlevelofmostglassmeltingfurnacesintheflatglassbusinessofCSGhasreachedtheadvancedlevelstipulatedbythenationalstandard.WujiangCSGissharedandpromotedbytheenergyconservationandComprehensiveUtilizationDepartmentoftheMinistryofindustryandinformationtechnologyasthe"Leader"ofenergyefficiencyinthekeyenergyconsumptionindustry.HebeiCSGisdesignatedbytheMinistryofindustryandinformationtechnologyastheadvancedbenchmark"TestField"ofCarbonPeak.Atthesametime,CSGhasalwayspaidattentiontotheutilizationofwasteheatinflatglassfactories,andeachproductionbasehasbuiltwasteheatboilersandwasteheatpowerplants;CSGisalsoactivelydevelopingphotovoltaicpowerplants,mostofwhichhavephotovoltaicpowerplantsontheroofsoffactories.Inthefirsthalfof2022,theGroup'swasteheatpowergenerationandphotovoltaicpowergenerationtotaledabout180millionkWh,equivalenttoreducingcarbondioxideemissionsbymorethan100,000tons.Inthefirsthalfof2022,allsubsidiariesbuiltpollutionpreventionandcontrolfacilitiesinaccordancewiththeenvironmentalimpactassessmentdocumentsofconstructionprojectsandrelevantspecifications.Thepollutioncontrolfacilitieswereingoodoperationandthepollutantsweredischargedstablyuptothestandard.Theairpollutantemissionconcentrationsofmostofthesubsidiarieswerelowerthan50%oftheemissionstandardandenjoyedthepreferentialpolicyofhalvingenvironmentaltax.Thepollutantemissionsof
manysubsidiariesreachedandimplementedlocalultra-lowemissionstandards.Meanwhile,thesubsidiariesbuiltandoperatedon-linemonitoringdevicesforwastewaterandexhaustgasinaccordancewithnationallawsandregulations,environmentalimpactassessmentdocumentsofconstructionprojectsandtherequirementsoftheirreplies,regularlycarriedoutcomparisonandreviewoftheeffectivenessofon-linemonitoringfacilities,andentrustedathird-partyunittocarryoutmanualenvironmentalmonitoringtocomprehensivelymonitorthepollutantdischarge.Themonitoringfrequencywasimplementedinaccordancewithrelevantmonitoringtechnicalguidelinesorpollutantdischargepermits.Inaddition,inaccordancewiththenationalrequirements,allsubsidiariespreparedemergencyenvironmentalresponseplanforenvironmentincident,organizedandcarriedoutexpertevaluationandfiledwiththelocalenvironmentalprotectiondepartmentasrequired,andconductedtheemergencydrillagainstenvironmentalincidentsasplanned.Andtherewerenomajorenvironmentalincidentsoccurredinthefirsthalfof2022.
3.ParticipateinpublicwelfareundertakingsandfulfillsocialresponsibilitiesTheCompanyactivelyparticipatesinsocialwelfareactivities,organizesemployeestovoluntarilyparticipateinvoluntaryblooddonation,supportscommunityepidemicpreventionandanti-epidemicwork,etc.,andfulfillscorporatesocialresponsibility.Inthefirsthalfof2022,theCompanydonatedfundsandmaterialstovarioussectorsofthesocietyforcharityandpublicwelfareactivitiessuchassupportandcarefortheelderlyinvillagesandtownsandepidemicprevention.
4.Adheretoindependentresearchanddevelopmenttoprovidebetterenergy-savingproductsTheCompanyhasalwaysadheredtothebusinessstrategyofindependentresearchanddevelopmentandinnovationleading.Inthefirsthalfof2022,theCompanysubmitted76patentapplicationsandobtained188newpatentauthorizations,including34inventionpatentauthorizations.AsofJune30,2022,theCompanyhadappliedforatotalof2,470patents,including993inventions,1,468utilitymodelpatents,and9designs;atotalof1,811authorizedpatents,including337inventions,1,465utilitymodels,and9designs.gatheringthewisdomofCSG’speopletoimprovetheindustrialscienceandtechnology.
5.ProtecttherightsandinterestsofshareholdersandcreditorsTheCompanyensuredthesteadydevelopmentofitsmainbusinessandimprovedoveralloperatingperformance.Inthefirsthalfof2022,theCompanyachievedoperatingincomeofRMB6.519billion,ayear-on-yeardecreaseof1.45%;realizednetprofitofRMB
1.009billion,ayear-on-yeardecreaseof26.33%;netprofitattributabletoshareholdersoflistedcompanieswasRMB1.001billion,ayear-on-yeardecreaseof25.98%.TheCompany'sequitydistributionof2021hadbeencompleted,andtheactualcashdividendamount(includingtax)wasRMB614,138,421,accountingfor40.16%ofthenetprofitattributabletoshareholdersoflistedcompanyin2021,withcontinuingreturntoshareholders.Intermsofcreditorprotection,theCompanyimplementedaprudentfinancialpolicy,andalldueloanswererepaidontime,whichprotectedthelegitimaterightsandinterestsofcreditors.
6.StrengthenwelfaresecurityandprotectthelegitimaterightsandinterestsofemployeesTheCompanyinsistsonstandardizingtheemploymentbehavior,strictlyimplementsthenationalandlocalsocialsecuritymechanism,andpurchasesfiveinsurancesandonefundandothercomprehensivewelfareinsuranceforemployees;ithasafairandunimpededpostpromotionsystemandbroadenthedevelopmentchannelsofemployees;itestablishesandimplementsastatutoryleavesystemforemployees,andemployeesenjoyvariousstatutoryholidaysandotherpaidholidaysstipulatedbythestate;itactivelyorganizesvariousemployeeculturalandsportsactivities,andemployeesalsoenjoybenefitssuchasemployeecanteens,employeephysicalexaminations,subsidiesandotherbenefits.Itstrengthensoccupationalhealthmonitoringandmanagementtoensurethephysicalandmentalhealthofemployees;itcaresforemployeesinneed.Inthefirsthalfof2022,theCompanyprovidedassistanceofRMB302,600to11employeesandtheirfamiliesforhelpingthemovercomedifficulties.
7.SocialhonorrecognitionWhilegivingbacktothesocietythroughsteadyoperation,CSGanditsproductshavebeenrecognizedbybyallsectorsofthesociety.Sinceitsestablishment38yearsago,theCompany'sproductshavebeenwidelyusedinmanymajorandimportantvenues,suchasthe"IceRibbon","ShougangSkiJumpingPlatform","SnowRuyi"andotherBeijingWinterOlympicvenuesthatwillastonishtheworldin2022;CSG’slowradiationcoatedglassandultra-thinelectronicglasswererecognizedas"SingleChampionProductsofManufacturingIndustry"bytheMinistryofIndustryandInformationTechnologyofthePeople'sRepublicofChina;theCompany
hasbeenlistedonthelistof"Top100IndustryLeadersinShenzhen"and"PreferredBrandofArchitecturalGlass"inDoorandWindowCurtainWallIndustry,AnnualOutstandingEnterpriseinTouchDisplayIndustry,Well-knownBrandinShenzhen,etc.,andithaswonthehonorsof"LeadingEnterpriseinPromotingHigh-qualityDevelopment"and"ConsumerFavoriteBrand",etc.
SectionVI.ImportantEventsI.Commitmentscompletedbytheactualcontrollers,theshareholders,therelatedparties,thepurchasersandtheCompanyduringthereportperiodandthosethathadn’tbeencompletedexecutionbytheendofthereportperiod
□Applicable√NotapplicableDuringthereportperiod,therewerenocommitmentsmadebytheCompany'sactualcontroller,shareholders,relatedparties,acquirers,theCompanyandotherrelevantpartiesthathadbeenfulfilledwithinthereportperiodandhadnotbeenfulfilledwithinthetimelimitbytheendofthereportperiod.II.Particularsaboutnon-operatingfundoflistedcompanyoccupiedbycontrollingshareholderandotherrelatedparties
□Applicable√NotapplicableDuringthereportperiod,therewasnoanynon-operatingfundoflistedcompanyoccupiedbycontrollingshareholderandotherrelatedparties.III.Illegalexternalguarantee
□Applicable√NotapplicableDuringthereportperiod,therewasnoillegalexternalguarantee.IV.Engaginganddismissingofaccountingfirm
Whetherthesemi-annualreporthasbeenauditedornot
□Yes√NoThesemi-annualreportoftheCompanyhasnotbeenaudited.V.ExplanationfromBoardofDirectorsandSupervisoryCommitteefor“Non-standardauditreport”oftheperiodthatissuedbyaccountingfirm
□Applicable√Notapplicable
VI.ExplanationfromBoardofDirectorsfor“Non-standardauditreport”ofthepreviousyear
□Applicable√Notapplicable
VII.Issuesrelatedtobankruptcyandreorganization
□Applicable√Notapplicable
VIII.LawsuitsSignificantlawsuitsandarbitrations
□Applicable√NotapplicableDuringthereportperiod,theCompanyhadnosignificantlawsuitsandarbitrationsOtherlawsuits
□Applicable√Notapplicable
IX.Penaltyandrectification
□Applicable√Notapplicable
X.IntegrityoftheCompanyanditscontrollingshareholdersandactualcontrollers
√Applicable□NotapplicableTheCompanyhasnocontrollingshareholderandactualcontroller.Accordingtothedisclosurerequirements,theCompany'slargestshareholderForeseaLifeInsuranceCo.,Ltd.,shareholderZhongshanRuntianInvestmentCo.,Ltd.andshareholderChengtaiGroupCo.,Ltd.shoulddisclosethecorrespondinginformation.Thedetailsareasfollows:
(Ⅰ)IntegrityoftheCompanyDuringthereportperiod,ItdidnotexistthattheCompanyfailedtoperformtheeffectivejudgmentofthecourtorowedcomparativelylargeamountofdebtwhichwasoverdue.TheCompany'sintegrityisgood.(ⅠⅠ)TheintegrityoftheCompany'sshareholders
1.AccordingtothereplyoftheCompany'slargestshareholder,ForeseaLifeInsuranceCo.,Ltd.:AsofJune30,2022,itdidnotexistthatForeseaLifeInsuranceCo.,Ltd.failedtoperformtheeffectivejudgmentofthecourtorowedcomparativelylargeamountofdebtwhichwasoverdue.
2.AccordingtothereplyoftheshareholderZhongshanRuntianInvestmentCo.,Ltd.,theoriginalcontentisasfollows:
AsofJune30,2022,thecasesexecutedbyZhongshanRuntianInvestmentCo.,Ltd.(hereinafterreferredtoas"ZhongshanRuntian")areasfollows:
(1)Duetothecaseofexecutionofnotarizedcreditor'srightsdocumentsbetweenGreatWallGuoxingFinancialLeasingCo.,Ltd.and16companiesincludingShenzhenShumYipLogisticsGroupCo.,Ltd.,ShenzhenBaonengInvestmentGroupCo.,Ltd.,BaonengRealEstateCo.,Ltd.andZhongshanRuntianInvestmentCo.,Ltd.,GreatWallGuoxingFinancialLeasingCo.,Ltd.appliedtothecourtforcompulsoryexecution.AstheguarantorofthedebtofRMB164million,ZhongshanRuntianshallbejointlyandseverallyliableforthedebt,andits5.57millionsharesofJonjeeHigh-techareusedascollateral.Atpresent,GreatWallGuoxingFinancialLeasingCo.,Ltd.hasappliedforcompulsoryexecutionandhasfrozen5.57millionsharesofJonjeeHigh-tech.
(2)Duetothecaseofnotarizingcreditor'srightsdocumentsbetweenChongqingXinyuFinancialLeasingCo.,Ltd.andthedefendantsShenzhenBaonengInvestmentGroupCo.,Ltd.,ShenzhenBaonengAutomobileCo.,Ltd.,andZhongshanRuntian,ChongqingXinyuFinancialLeasingCo.,Ltd.appliedtothecourtforcompulsoryexecution.AstheguarantorofthebondofRMB260million,ZhongshanRuntianusedits67.65millionCSGAsharesascollateral.
(3)Duetothecaseofnotarizingcreditor'srightsdocumentsbetweenGuangdongFinanceTrustCo.,Ltd.andZhongshanRuntian,ShenzhenJushenghuaCo.,Ltd.,ShenzhenBaonengInvestmentGroupCo.,Ltd.,BaonengHoldings(China)Co.,Ltd.,andMr.YaoZhenhua,YuecaiTrustappliedtothecourtforcompulsoryexecution.Asthedirectborrowerofthedebtof720millionyuan,ZhongshanRuntianusedits26.55millionsharesofJonjeeHigh-techascollateral.Atpresent,thestockhasbeenfrozenandwaitingtobefrozenbyGuangdongYuecaiTrustCo.,Ltd.AsofJune30,2022,ZhongshanRuntian'ssharesinJonjeeHigh-techarestill
beingpassivelyreduced.
(4)DuetothedisputeovertheloancontractbetweenAVICTrustCo.,Ltd.andZhongshanRuntianFinance,ZhongshanRuntian,astheborrowerofthedebtprincipalof1.05billionyuan,HefeiBaohuiRealEstateCo.,Ltd.andHefeiBaonengRealEstateDevelopmentCo.,Ltd.Thecompany,ShenzhenJushenghuaCo.,Ltd.,ShenzhenShumYipLogisticsGroupCo.,Ltd.,ShenzhenBaonengInvestmentGroupCo.,Ltd.,ChiaTai(Shenzhen)DevelopmentCo.,Ltd.andMr.YaoZhenhuaarejointlyandseverallyliableforthedebt.
(5)Duetothecaseofexecutionofnotarizedcreditor'srightsdocumentsbetweenChongqingInternationalTrustCo.,Ltd.andShenzhenJushenghuaCo.,Ltd.,ZhongshanRuntian,ShenzhenBaonengInvestmentGroupCo.,Ltd.andMr.YaoZhenhua,thecourtruledtosealupandfreezethepropertyofRMB541millionofJushenghua,BaonengGroupandYaoZhenhua,andtofreezethe22millionsharesofJonjeeHigh-techpledgedbyZhongshanRuntiantoChongqingTrust.Atpresent,ChongqingTrusthasappliedforcompulsoryexecutionandhasfrozen22millionsharesofJonjeeHigh-tech.AsofJune30,2022,thedetailsofZhongshanRuntian'scomparativelylargeamountofdebtwhichwasoverdueareasfollows:
| Serialnumber | Borrower | Financialinstitution | Loanamount(RMB0,000) | Creditenhancementplan | Startdateofloan | Maturitydateofloan |
| 1 | ZhongshanRuntianInvestmentCo.,Ltd. | EssenceSecurities | 32,923.86 | Guarantee+Pledge | 2018/12/27 | 2021/12/26 |
| 2 | ZhongshanRuntianInvestmentCo.,Ltd. | AVICTrust | 105,000.00 | Guarantee+Pledge | 2019/9/25 | 2021/10/31 |
| 3 | ZhongshanRuntianInvestmentCo.,Ltd. | XieMoumou | 114,975.00 | Guarantee | 2021/3/15 | 2021/12/31 |
| 4 | ZhongshanRuntianInvestmentCo.,Ltd. | GuangdongFinanceTrust | 55,448.61 | Guarantee+Pledge | 2021/1/8 | 2022/1/7 |
| Total | 308,347.47 |
AsofJune30,2022,Mr.YaoZhenhua'spersonalexecutioncasesareasfollows:
(1)Duetothecaseofdisputesovernotarizedcreditor'srightsdocumentsbetweenPingAnTrustCo.,Ltd.andShaoxingBaoruiRealEstateCo.,Ltd.,BaonengCityCo.,Ltd.,ShenzhenBaonengInvestmentGroupCo.,Ltd.,BaonengRealEstateCo.,Ltd.,ShanghaiKaiyueInvestmentCo.,Ltd.andMr.YaoZhenhuanotarizedcreditor'srights,whichwasappliedforcompulsoryexecutionbyPingAnTrust,Mr.YaoZhenhuawasjointlyandseverallyliablefortheprincipalandinterestofthedebtofRMB420million.
(2)DuetothetrustloandisputebetweentheNationalTrustandShenzhenXinaoTradingCo.,Ltd.,ShenzhenBaonengInvestmentGroupCo.,Ltd.,Mr.YaoZhenhuaandotherssignedrelevantguaranteecontracts,orderingShenzhenXinaoTradingCo.,Ltd.torepaytheloanprincipalof290millionYuanandrelatedinterestsandlitigationcosts,ShenzhenBaonengInvestmentGroupCo.,Ltd.,Mr.YaoZhenhua,etc.wasjointlyandseverallyliableforthedebts.
(3)DuetothefinancialborrowingofZhongrongInternationalTrustCo.,Ltd.andBaonengAutomobileCo.,Ltd.,itappliedtotheBeijingThirdIntermediatePeople'sCourtfornotarizationonthematterforcompulsoryexecution.SinceMr.YaoZhenhuaprovidedaguaranteeforthisloanbusinessandsignedtherelevantnotarizeddocuments,hewasjointlyandseverallyliableforthedebtof
1.048billionyuan.
(4)AsKunlunTrustCo.,Ltd.appliedtothecourtforcompulsoryexecutionofthenotarizedcreditor'srightsdocumentswithShumYipLogisticsGroupCo.,Ltd.,BaonengCenturyCo.,Ltd.,ChiaTai(Shenzhen)DevelopmentCo.,Ltd.,ShenzhenBaonengInvestmentGroupCo.,Ltd.,BaonengHoldings(China)Co.,Ltd.,Mr.YaoZhenhua,Mr.YaoZhenhuaassumedjointandseveralguaranteeliabilitiesforthedebtofRMB1.31billion.
(5)Duetothecaseofnotarizingcreditor'srightsdocumentsbetweenGuangzhouXinhuaCityDevelopmentIndustryInvestmentEnterprise(LimitedPartnership)andthedefendantsShenzhenBaonengInvestmentGroupCo.,Ltd.,ShenzhenJushenghuaCo.,Ltd.andMr.YaoZhenhua,Mr.YaoZhenhua,astheguarantor,signedtherelevantnotarialdocumentsandassumedjointandseveralliabilitiesfortheprincipalandinterestofthecreditor'srightsofRMB600million.
(6)DuetothedisputeovertheloancontractbetweenXiamenInternationalBankCo.,Ltd.FuzhouBranchandShenzhenJushenghuaCo.,Ltd.,XiamenInternationalBankCo.,Ltd.FuzhouBranch,whichwasappliedtoShenzhenIntermediatePeople'sCourtforcompulsoryexecution,Mr.YaoZhenhua,astheguarantoroftheloanprincipalofRMB2.16billion,signedthecorrespondingguaranteecontractandassumedjointandseveralliabilitiesforthedebt.
(7)DuetothefinancialdebtdisputebetweenGuangdongFinanceTrustCo.,Ltd.andZhongshanRuntian,GuangdongFinanceTrustCo.,Ltd.,whichwasappliedtoShenzhenIntermediatePeople'sCourtforcompulsoryexecution,Mr.YaoZhenhua,astheguarantoroftheloan,signedthecorresponding"GuaranteeContract"andwasjointlyandseverallyliableforthedebtofRMB720million.
(8)DuetothefinancialdebtdisputebetweenChinaRailwayTrustCo.,Ltd.andBaonengAutomobileGroupCo.,Ltd.andKunmingBaojunRealEstateCo.,Ltd.,whichwasappliedtoChengduIntermediatePeople'sCourtofSichuanProvinceforcompulsoryexecution,astheguarantoroftheloan,Mr.YaoZhenhuasignedtheThecorresponding"GuaranteeContract"andwasjointlyandseverallyliableforthedebtofRMB2.063billion.
(9)DuetothefinancialdebtdisputebetweenChinaRailwayTrustCo.,Ltd.andBaonengAutomobileGroupCo.,Ltd.andKunmingJianpengRealEstateDevelopmentCo.,Ltd.,whichwasappliedtoChengduIntermediatePeople'sCourtofSichuanProvinceforcompulsoryexecution,Mr.YaoZhenhua,astheguarantoroftheloan,Thecorresponding"GuaranteeContract"andwasjointlyandseverallyliableforthedebtofRMB836million.
(10)Duetothecaseofnotarizingcreditor'srightsdocumentsbetweenChanganInternationalTrustCo.,Ltd.andShenzhenBaonengInvestmentGroupCo.,Ltd.,WuxiBaonengRealEstateCo.,Ltd.,BaonengHoldings(China)Co.,Ltd.,ShenzhenJushenghuaCo.,Ltd.,andMr.YaoZhenhua,whichwasappliedforcompulsoryexecutionbyChanganTrust,Mr.YaoZhenhua,astheguarantorofthedebt,wasjointlyandseverallyliableforthedebtofRMB925million.
(11)Duetothecaseofnotarizingcreditor'srightsdocumentsbetweenChanganInternationalTrustCo.,Ltd.andShenzhenBaonengInvestmentGroupCo.,Ltd.,WuxiBaonengRealEstateCo.,Ltd.,BaonengHoldings(China)Co.,Ltd.,ShenzhenJushenghuaCo.,Ltd.,andMr.YaoZhenhua,whichwasappliedforcompulsoryexecutionbyChanganTrust,Mr.YaoZhenhua,astheguarantorofthedebt,wasjointlyandseverallyliableforthedebtofRMB1.117billion.
(12)Duetothecaseofnotarizingcreditor'srightsdocumentsbetweenChinaMinshengTrustCo.,Ltd.andtheexecutorsShenzhenBaonengInvestmentGroupCo.,Ltd.,HefeiBaohuiRealEstateCo.,Ltd.,ShenzhenBaonengEnterpriseManagementCo.,Ltd.,AnhuiBaonengLandCo.,Ltd.,andMr.YaoZhenhua,MinshengTrustappliedforcompulsoryexecution.Astheguarantorofthedebt,Mr.YaoZhenhuawasjointlyandseverallyliableforthedebtofRMB4.207billion.
(13)Duetothecaseofnotarizingcreditor'srightsdocumentsbetweenShanghaiAijianTrustCo.,Ltd.andShenzhenShumYipLogisticsGroupCo.,Ltd.,ShenzhenBaonengInvestmentGroupCo.,Ltd.,Zhengda(Shenzhen)DevelopmentCo.,Ltd.,HefeiBaohuiRealEstateCo.,Ltd.,HefeiBaonengRealEstateDevelopmentCo.,Ltd.,ShenzhenJushenghuaCo.,Ltd.,andMr.YaoZhenhua,AijianTrustappliedtothecourtforcompulsoryexecution.Astheguarantorofthedebt,Mr.YaoZhenhuawasjointlyandseverallyliableforthedebtofRMB417million.
(14)DuetothedisputeovertheloancontractbetweenChongqingInternationalTrustCo.,Ltd.andBaonengAutomobileGroupCo.,Ltd.,ChongqingInternationalTrustappliedtothecourtforcompulsoryexecution,andMr.YaoZhenhua,astheguarantorofthedebt,wasjointlyandseverallyliableforthedebtofRMB2.186billion.
(15)Duetothecaseofnotarizingcreditor'srightsdocumentsbetweenChinaMinshengTrustCo.,Ltd.andShenzhenShumYipLogisticsGroupCo.,Ltd.,ShenzhenBaonengInvestmentGroupCo.,Ltd.,ShenzhenJushenghuaCo.,Ltd.,andMr.YaoZhenhua,MinshengTrustappliedtothecourtforcompulsoryexecution,andMr.YaoZhenhua,astheguarantorofthedebt,wasjointlyandseverallyliableforthedebtofRMB496million.
(16)DuetothecaseofChinaMinshengTrustCo.,Ltd.,ShenzhenShumYipLogisticsGroupCo.,Ltd.,ShenzhenBaonengInvestmentGroupCo.,Ltd.,ShenzhenJushenghuaCo.,Ltd.andMr.YaoZhenhua,whichwasappliedtothecourtforcompulsoryexecutionbyMinshengTrust,Mr.YaoZhenhua,astheguarantorofthedebt,wasjointlyandseverallyliableforthedebtofRMB
2.238billion.
(17)DuetothefinancialloancontractdisputebetweenAVICTrustCo.,Ltd.andShenzhenLingdaoAutoLifeServiceCo.,Ltd.,ShenzhenBaonengInvestmentGroupCo.,Ltd.,ShenzhenJushenghuaCo.,Ltd.,ShenzhenShumYipLogisticsGroupCo.,Ltd.,TengchongBaonengRealEstateCo.,Ltd.,ZhejiangJintianRealEstateDevelopmentCo.,Ltd.,TengchongBeihaiWetlandEcotourismInvestmentCo.,Ltd.,Mr.YaoZhenhua,AVICTrustappliedtothecourtforcompulsoryexecution,andMr.YaoZhenhua,astheguarantorofthedebt,wasjointlyandseverallyliableforthedebtofRMB984million.
(18)DuetothefinancialloancontractdisputebetweenAVICTrustCo.,Ltd.andShenzhenShumYipLogisticsGroupCo.,Ltd.,ShenzhenBaonengInvestmentGroupCo.,Ltd.,ShenzhenJushenghuaCo.,Ltd.,BaonengRealEstateCo.,Ltd.,andWuhuBaonengRealEstateCo.,Ltd.Thecompany,BaonengCityCo.,Ltd.,TengchongBeihaiWetlandEco-tourismInvestmentCo.,Ltd.,Mr.YaoZhenhua,whichwasappliedtothecourtbyAVICTrustforenforcement,Mr.YaoZhenhua,astheguarantorofthedebt,wasjointlyandseverallyliableforthedebtofRMB563million.
(19)DuetotheloancontractdisputebetweenPingAnBankCo.,Ltd.ShenzhenBranchandShenzhenShumYipLogisticsGroupCo.,Ltd.,ShenzhenJushenghuaCo.,Ltd.,ShenzhenBaonengInvestmentGroupCo.,Ltd.,BaonengRealEstateCo.,Ltd.,ShenzhenFirstSpaceOperationManagementCo.,Ltd.,Mr.YaoZhenhuaandBaonengCityCo.,Ltd.,whichwasappliedtothecourtbyShenzhenBranchofPingAnBankCo.,Ltd.forexecution,Mr.YaoZhenhua,astheguarantorofthedebt,wasjointlyandseverallyliableforthedebtofRMB3.433billion.
(20)DuetotheexecutionoflitigationcostsoftheloancontractdisputebetweenShenzhenBranchofPingAnBankCo.,Ltd.andBaonengCityCo.,Ltd.,BaonengRealEstateCo.,Ltd.,BaonengHoldings(China)Co.,Ltd.,Mr.YaoZhenhuaandShenzhenLiujinInvestmentCo.,Ltd.,theHigherPeople'sCourtofGuangdongProvinceappointedShenzhenIntermediatePeople'sCourtofGuangdongProvincetoexecutethecase.Mr.YaoZhenhua,astheguarantoroftheloancontractdispute,wasjointlyandseverallyliableforthelitigationcostsofRMB13.9208millionarisingfromtheloancontractdispute.
(21)duetotheloancontractdisputebetweenShenzhenBranchofPingAnBankCo.,Ltd.andBaonengCityCo.,Ltd.,BaonengRealEstateCo.,Ltd.,BaonengHoldings(China)Co.,Ltd.,Mr.YaoZhenhuaandShenzhenLiujinInvestmentCo.,Ltd.,ShenzhenBranchofPingAnBankCo.,Ltd.appliedtothecourtforexecution.Mr.YaoZhenhua,astheguarantorofthedebt,wasjointlyandseverallyliableforthedebtofRMB5.562billion.
(22)Duetothecaseofexecutionofnotarizedcreditor'srightsdocumentsbetweenChongqingInternationalTrustCo.,Ltd.andShenzhenJushenghuaCo.,Ltd.,ZhongshanRuntian,ShenzhenBaonengInvestmentGroupCo.,Ltd.,andMr.YaoZhenhua,ChongqingInternationalTrustCo.,Ltd.whichwasappliedtothecourtbyChongqingInternationalTrustCo.,Ltd.forexecution,andMr.YaoZhenhua,astheguarantorofthedebt,wasjointlyandseverallyliableforthedebtofRMB541million.
(23)DuetothecaseofTibetBankCo.,Ltd.v.LhasaBaochuangAutomobileSalesCo.,Ltd.,Mr.YaoZhenhua,ShenzhenBaonengInvestmentGroupCo.,Ltd.,ShenzhenJushenghuaCo.,Ltd.,andShenzhenShumyeLogisticsGroupCo.,Ltd.wasjointlyandseverallyliableforthelitigationfeeoftheloancontractdispute,whichwasexecutedbytheLhasaIntermediatePeople'sCourtoftheTibetAutonomousRegion,Mr.YaoZhenhua,astheguarantoroftheloancontractdispute,wasjointlyandseverallyliableforthelitigationcostsofRMB4.1867millionarisingfromtheloancontractdispute.
(24)DuetothecasethatBankofTibetCo.,Ltd.suedLhasabaochuangAutomobileSalesCo.,Ltd.,Mr.YaoZhenhua,ShenzhenBaonengInvestmentGroupCo.,Ltd.,ShenzhenJushenghuaCo.,Ltd.andShenzhenShenyeLogisticsGroupCo.,Ltd.werejointlyandseverallyliableforthedebtsarisingfromtheloancontractdisputeandwereexecutedbyLhasaIntermediatePeople'sCourtofTibetAutonomousRegion.Mr.YaoZhenhua,astheguarantoroftheloancontractdispute,wasjointlyandseverallyliableforthelitigationcostsofRMB829millionarisingfromtheloancontractdispute,whichhasbeenpaidoff.
(25)DuetothecasethatChongqingInternationalTrustCo.,Ltd.suedBaonengAutomobileGroupCo.,Ltd.,NanjingBaoneng
UrbanDevelopmentCo.,Ltd.,ShenzhenBaonengInvestmentGroupCo.,Ltd.,BaonengHoldings(China)Co.,Ltd.,andYaoZhenhua,astheguarantorofthedebt,Mr.YaoZhenhuawasexecutedbytheChongqingNo.5IntermediatePeople'sCourt,andhewasjointlyandseverallyliableforthedebtofRMB2.121billion.Mr.YaoZhenhuahadnodebtwithcomparativelyamountthathadnotbeenpaidwhendue.
3.AccordingtothereplyoftheshareholderChengtaiGroupCo.,Ltd.:asofJune30,ChengtaiGroupCo.,Ltd.hadnotreceivedrelevantinformationonsharefreezingandlitigation,andithadnodebtwithcomparativelyamountthathadnotbeenpaidwhendue.XI.Majorrelatedtransaction
1.Relatedtransactionwithroutineoperationconcerned
□Applicable√Notapplicable
2.Relatedtransactionwithacquisitionofassetsorequity,salesofassetsorequityconcerned
□Applicable√Notapplicable
3.Relatedtransactionwithjointlyexternalinvestmentconcerned
□Applicable√Notapplicable
4.Creditsandliabilitieswithrelatedparties
□Applicable√Notapplicable
5.Transactionswithrelatedfinancialcompanies
□Applicable√Notapplicable
6.Transactionswithfinancialcompaniescontrolledbythecompany
□Applicable√Notapplicable
7.Othermajorrelatedtransaction
□Applicable√NotapplicableXII.Significantcontractsandtheirimplementation
1.Trusteeship,contractandleasing
(1)Trusteeship
□Applicable√Notapplicable
(2)Contract
□Applicable√Notapplicable
(3)Leasing
□Applicable√Notapplicable
2.Majorguarantees
√Applicable□Notapplicable
Unit:RMB0,000
| ExternalguaranteeoftheCompanyanditssubsidiaries(barringtheguaranteeforsubsidiaries) | |||||||||||
| NameoftheCompanyguaranteed | RelatedAnnouncementdisclosuredate | Guaranteelimit | Actualdateofhappening(Dateofsigningagreement) | Actualguaranteelimit | Guaranteetype | Collateral(ifany) | Counter-Warrantiescircumstance(ifany) | Guaranteeterm | Completeimplementationornot | Guaranteeforrelatedparty(Yesorno) | |
| Totalamountofapprovingexternalguaranteeinreportperiod(A1) | 0 | Totalamountofactualoccurredexternalguaranteeinreportperiod(A2) | 0 | ||||||||
| Totalamountofapprovedexternalguaranteeattheendofreportperiod(A3) | 0 | Totalbalanceofactualexternalguaranteeattheendofreportperiod(A4) | 0 | ||||||||
| GuaranteeoftheCompanyforthesubsidiaries | |||||||||||
| NameoftheCompanyguaranteed | RelatedAnnouncementdisclosuredate | Guaranteelimit | Actualdateofhappening(Dateofsigningagreement) | Actualguaranteelimit | Guaranteetype | Collateral(ifany) | Counter-Warrantiescircumstance(ifany) | Guaranteeterm | Completeimplementationornot | Guaranteeforrelatedparty(Yesorno) | |
| XianningCSGPhotovoltaicGlassCo.,Ltd. | 2022/4/25 | 6,000 | 2022/5/26 | 2,490 | Jointliabilityguarantee | None | None | 1year | No | No | |
| XianningCSGPhotovoltaicGlassCo.,Ltd. | 2020/12/19 | 5,000 | 2021/3/22 | 1,500 | Jointliabilityguarantee | None | None | 1year | No | No | |
| XianningCSGEnergy-SavingGlassCo.,Ltd. | 2022/4/25 | 5,000 | 2022/5/27 | 2,000 | Jointliabilityguarantee | None | None | 1year | No | No | |
| XianningCSGEnergy-SavingGlassCo.,Ltd. | 2022/4/25 | 5,000 | 2022/5/25 | 2,500 | Jointliabilityguarantee | None | None | 1year | No | No | |
| YichangNanboPhotoelectricGlassCo.,Ltd. | 2021/2/19 | 1,824 | 2021/3/19 | 1,200 | Jointliabilityguarantee | None | None | 1year | No | No | |
| YichangNanboPhotoelectricGlassCo.,Ltd. | 2021/8/10 | 1,824 | 2021/12/17 | Jointliabilityguarantee | None | None | 1year | No | No | ||
| DongguanCSG | 2021/8/10 | 3,000 | 2021/11/29 | 3,000 | Jointliability | None | None | 1year | No | No | |
| PV-techCo.,Ltd. | guarantee | |||||||||
| DongguanCSGPV-techCo.,Ltd. | 2021/8/10 | 10,000 | 2021/8/13 | 923 | Jointliabilityguarantee | None | None | 1year | No | No |
| HebeiPanelGlassCo.,Ltd. | 2021/2/19 | 3,000 | Jointliabilityguarantee | None | None | 1year | Yes | No | ||
| HebeiPanelGlassCo.,Ltd. | 2022/4/25 | 2,500 | 2022/5/16 | Jointliabilityguarantee | None | None | 3years | No | No | |
| HebeiPanelGlassCo.,Ltd. | 2021/10/30 | 16,500 | 2021/12/17 | 6,210 | Jointliabilityguarantee | None | None | 5years | No | No |
| HebeiCSGGlassCo.,Ltd. | 2021/2/19 | 5,000 | Jointliabilityguarantee | None | None | 1year | Yes | No | ||
| HebeiCSGGlassCo.,Ltd. | 2022/4/25 | 2,500 | 2022/5/16 | Jointliabilityguarantee | None | None | 3years | No | No | |
| DongguanCSGArchitecturalGlassCo.,Ltd. | 2021/6/29 | 5,000 | 2021/9/13 | 4,800 | Jointliabilityguarantee | None | None | 2years | No | No |
| DongguanCSGArchitecturalGlassCo.,Ltd. | 2022/4/25 | 10,000 | 2022/5/17 | Jointliabilityguarantee | None | None | 1year | No | No | |
| DongguanCSGArchitecturalGlassCo.,Ltd. | 2021/10/30 | 10,000 | 2021/5/18 | 1,631 | Jointliabilityguarantee | None | None | 1year | Yes | No |
| XianningCSGGlassCo.,Ltd. | 2022/4/25 | 7,000 | 2022/5/27 | 6,500 | Jointliabilityguarantee | None | None | 1year | No | No |
| XianningCSGGlassCo.,Ltd. | 2021/12/25 | 15,000 | 2022/3/1 | Jointliabilityguarantee | None | None | 7years | No | No | |
| XianningCSGGlassCo.,Ltd. | 2021/12/25 | 50,000 | 2022/3/9 | 12,711 | Jointliabilityguarantee | None | None | 7years | No | No |
| XianningCSGGlassCo.,Ltd. | 2021/6/29 | 20,000 | 2021/7/7 | 18,689 | Jointliabilityguarantee | None | None | 5years | No | No |
| ChengduCSGGlassCo.,Ltd. | 2021/12/25 | 5,000 | 2022/2/17 | 4,500 | Jointliabilityguarantee | None | None | 1year | No | No |
| ChengduCSGGlassCo.,Ltd. | 2021/2/19 | 5,000 | 2021/3/8 | Jointliabilityguarantee | None | None | 1year | Yes | No | |
| SichuanCSGEnergyConservationGlassCo.,Ltd. | 2021/12/25 | 8,000 | 2022/4/15 | 4,200 | Jointliabilityguarantee | None | None | 1year | No | No |
| SichuanCSGEnergy | 2022/4/25 | 10,000 | 2022/6/6 | 8,000 | Jointliability | None | None | 1year | No | No |
| ConservationGlassCo.,Ltd. | guarantee | |||||||||
| SichuanCSGEnergyConservationGlassCo.,Ltd. | 2021/6/8 | 5,000 | 2021/8/24 | Jointliabilityguarantee | None | None | 1year | No | No | |
| WujiangCSGGlassCo.,Ltd. | 2021/2/19 | 10,000 | 2021/3/12 | 6,236 | Jointliabilityguarantee | None | None | 4years | No | No |
| WujiangCSGGlassCo.,Ltd. | 2022/4/25 | 10,000 | 2022/5/18 | 780 | Jointliabilityguarantee | None | None | 1year | No | No |
| WujiangCSGGlassCo.,Ltd. | 2021/12/25 | 10,000 | 2022/2/17 | 747 | Jointliabilityguarantee | None | None | 1year | Yes | No |
| WujiangCSGGlassCo.,Ltd. | 2021/2/19 | 5,000 | 2021/3/8 | Jointliabilityguarantee | None | None | 1year | Yes | No | |
| WujiangCSGGlassCo.,Ltd. | 2021/6/8 | 5,000 | 2021/9/26 | 2,852 | Jointliabilityguarantee | None | None | 1year | No | No |
| WujiangCSGGlassCo.,Ltd. | 2021/2/19 | 10,000 | 2021/3/26 | Jointliabilityguarantee | None | None | 1year | Yes | No | |
| WujiangCSGEastChinaArchitecturalGlassCo.,Ltd. | 2020/12/5 | 10,000 | 2020/12/9 | Jointliabilityguarantee | None | None | 1year | Yes | No | |
| WujiangCSGEastChinaArchitecturalGlassCo.,Ltd. | 2022/4/25 | 7,000 | 2022/5/18 | Jointliabilityguarantee | None | None | 1year | No | No | |
| WujiangCSGEastChinaArchitecturalGlassCo.,Ltd. | 2021/2/19 | 12,400 | 2021/5/19 | 2,572 | Jointliabilityguarantee | None | None | 5years | Yes | No |
| WujiangCSGEastChinaArchitecturalGlassCo.,Ltd. | 2022/4/25 | 12,400 | 2022/5/26 | 2,572 | Jointliabilityguarantee | None | None | 5years | No | No |
| WujiangCSGEastChinaArchitecturalGlassCo.,Ltd. | 2021/12/25 | 3,000 | Jointliabilityguarantee | None | None | 2years | No | No | ||
| DongguanCSGSolarGlassCo.,Ltd. | 2021/8/10 | 10,000 | 2021/9/13 | 3,460 | Jointliabilityguarantee | None | None | 1year | No | No |
| DongguanCSGSolarGlassCo.,Ltd. | 2021/2/19 | 5,000 | 2021/3/8 | 3,796 | Jointliabilityguarantee | None | None | 1year | No | No |
| DongguanCSGSolarGlassCo., | 2022/4/25 | 10,000 | 2022/5/17 | 2,124 | Jointliability | None | None | 1year | No | No |
| Ltd. | guarantee | |||||||||
| DongguanCSGSolarGlassCo.,Ltd. | 2021/10/30 | 20,000 | 2020/12/25 | 2,000 | Jointliabilityguarantee | None | None | 1year | Yes | No |
| DongguanCSGSolarGlassCo.,Ltd. | 2022/4/25 | 8,000 | 2022/6/7 | 1,214 | Jointliabilityguarantee | None | None | 1year | No | No |
| DongguanCSGSolarGlassCo.,Ltd. | 2022/4/25 | 9,000 | 2022/5/31 | 1,661 | Jointliabilityguarantee | None | None | 4years | No | No |
| DongguanCSGSolarGlassCo.,Ltd. | 2021/6/8 | 6,711 | 2021/7/7 | Jointliabilityguarantee | None | None | 1year | No | No | |
| QingyuanCSGNewEnergy-SavingMaterialsCo.,Ltd. | 2021/6/8 | 4,330 | 2021/8/25 | 1,425 | Jointliabilityguarantee | None | None | 1year | No | No |
| QingyuanCSGNewEnergy-SavingMaterialsCo.,Ltd. | 2021/8/10 | 4,500 | 2021/9/7 | Jointliabilityguarantee | None | None | 1year | No | No | |
| QingyuanCSGNewEnergy-SavingMaterialsCo.,Ltd. | 2022/4/25 | 10,000 | 2022/5/17 | 3,000 | Jointliabilityguarantee | None | None | 1year | No | No |
| QingyuanCSGNewEnergy-SavingMaterialsCo.,Ltd. | 2021/12/25 | 5,000 | Jointliabilityguarantee | None | None | 1year | No | No | ||
| QingyuanCSGNewEnergy-SavingMaterialsCo.,Ltd. | 2019/12/10 | 5,000 | 2020/4/26 | Jointliabilityguarantee | None | None | 1year | Yes | No | |
| QingyuanCSGNewEnergy-SavingMaterialsCo.,Ltd. | 2019/12/10 | 50,000 | 2020/4/26 | 10,524 | Jointliabilityguarantee | None | None | 5years | No | No |
| YichangCSGDisplayCo.,Ltd. | 2021/10/30 | 3,000 | 2021/12/1 | 2,943 | Jointliabilityguarantee | None | None | 1year | No | No |
| YichangCSGDisplayCo.,Ltd. | 2022/4/25 | 3,000 | 2022/6/24 | 2,800 | Jointliabilityguarantee | None | None | 1year | No | No |
| TianjinCSGEnergy-SavingGlassCo.,Ltd. | 2021/6/8 | 3,000 | 2021/7/14 | Jointliabilityguarantee | None | None | 1year | No | No |
| TianjinCSGEnergy-SavingGlassCo.,Ltd. | 2022/4/25 | 5,000 | 2022/6/21 | 600 | Jointliabilityguarantee | None | None | 1year | No | No |
| TianjinCSGEnergy-SavingGlassCo.,Ltd. | 2021/2/19 | 7,000 | 2021/3/23 | 6,464 | Jointliabilityguarantee | None | None | 4years | No | No |
| TianjinCSGEnergy-SavingGlassCo.,Ltd. | 2021/6/29 | 2,000 | 2021/11/26 | 1,654 | Jointliabilityguarantee | None | None | 1year | No | No |
| AnhuiCSGNewEnergyMaterialTechnologyCo.,Ltd. | 2021/8/10 | 70,000 | 2021/10/19 | 31,342 | Jointliabilityguarantee | None | None | 6years | No | No |
| AnhuiCSGNewEnergyMaterialTechnologyCo.,Ltd. | 2021/8/10 | 180,000 | 2021/8/28 | 79,887 | Jointliabilityguarantee | None | None | 7years | No | No |
| AnhuiCSGNewEnergyMaterialTechnologyCo.,Ltd. | 2021/12/25 | 50,000 | 2022/3/30 | 9,256 | Jointliabilityguarantee | None | None | 9years | No | No |
| AnhuiCSGNewQuartzMaterialCo.,Ltd | 2021/6/29 | 9,000 | 2021/9/13 | 7,442 | Jointliabilityguarantee | None | None | 5years | No | No |
| ZhaoqingCSGEnergy-SavingGlassCo.,Ltd. | 2022/4/25 | 5,000 | 2022/5/30 | 1,000 | Jointliabilityguarantee | None | None | 3years | No | No |
| ZhaoqingCSGEnergy-SavingGlassCo.,Ltd. | 2020/9/22 | 34,000 | 2020/9/25 | 23,055 | Jointliabilityguarantee | None | None | 5years | No | No |
| DongguanCSGArchitecturalGlassCo.,Ltd. | 2022/4/25 | 48,000 | 2022/6/22 | 2,661 | Jointliabilityguarantee | None | None | 1year | No | No |
| DongguanCSGSolarGlassCo.,Ltd. | 2022/4/25 | 2022/6/22 | Jointliabilityguarantee | None | None | 1year | No | No | ||
| DongguanCSGPV-techCo.,Ltd. | 2022/4/25 | 2022/6/22 | 216 | Jointliabilityguarantee | None | None | 1year | No | No | |
| QingyuanCSGNewEnergy-SavingMaterialsCo.,Ltd. | 2021/6/29 | 2021/7/1 | Jointliabilityguarantee | None | None | 1year | Yes | No | ||
| AnhuiCSGNewEnergyMaterialTechnologyCo.,Ltd. | 2022/4/25 | 2022/6/22 | 12,153 | Jointliabilityguarantee | None | None | 1year | No | No | |
| WujiangCSGGlassCo.,Ltd. | 2022/4/25 | 2022/6/22 | 1,831 | Jointliabilityguarantee | None | None | 1year | No | No | |
| ChengduCSG | 2022/4/25 | 2022/6/22 | 900 | Joint | None | None | 1year | No | No |
| GlassCo.,Ltd. | liabilityguarantee | |||||||||
| SichuanCSGEnergyConservationGlassCo.,Ltd. | 2022/4/25 | 2022/6/22 | 332 | Jointliabilityguarantee | None | None | 1year | No | No | |
| XianningCSGGlassCo.,Ltd. | 2022/4/25 | 2022/6/22 | 2,424 | Jointliabilityguarantee | None | None | 1year | No | No | |
| XianningCSGEnergy-SavingGlassCo.,Ltd. | 2022/4/25 | 2022/6/22 | 282 | Jointliabilityguarantee | None | None | 1year | No | No | |
| WujiangCSGEastChinaArchitecturalGlassCo.,Ltd. | 2022/4/25 | 2022/6/22 | 1,876 | Jointliabilityguarantee | None | None | 1year | No | No | |
| TianjinCSGEnergy-SavingGlassCo.,Ltd. | 2022/4/25 | 2022/6/22 | 1,955 | Jointliabilityguarantee | None | None | 1year | No | No | |
| HebeiPanelGlassCo.,Ltd. | 2020/6/24 | Jointliabilityguarantee | None | None | 1year | Yes | No | |||
| DongguanCSGJingyuNewMaterialCo.,Ltd. | 2020/2/25 | Jointliabilityguarantee | None | None | 1year | Yes | No | |||
| ZhaoqingCSGEnergy-SavingGlassCo.,Ltd. | 2022/4/25 | Jointliabilityguarantee | None | None | 1year | No | No | |||
| Totalamountofapprovingguaranteeforsubsidiariesinreportperiod(B1) | 175,400 | Totalamountofactualoccurredguaranteeforsubsidiariesinreportperiod(B2) | 93,285 | |||||||
| Totalamountofapprovedguaranteeforsubsidiariesattheendofreportingperiod(B3) | 783,089 | Totalbalanceofactualguaranteeforsubsidiariesattheendofreportingperiod(B4) | 309,940 | |||||||
| Guaranteesituationofsubsidiariestosubsidiaries | ||||||||||
| NameoftheCompanyguaranteed | RelatedAnnouncementdisclosuredate | Guaranteelimit | Actualdateofhappening(Dateofsigningagreement) | Actualguaranteelimit | Guaranteetype | Collateral(ifany) | Counter-Warrantiescircumstance(ifany) | Guaranteeterm | Completeimplementationornot | Guaranteeforrelatedparty(Yesorno) |
| Totalamountofapprovingguaranteeforsubsidiariesinreportperiod(C1) | 0 | Totalamountofactualoccurredguaranteeforsubsidiariesinreportperiod(C2) | 0 | |||||||
| Totalamountofapprovedguaranteeforsubsidiariesattheendofreportingperiod(C3) | 0 | Totalbalanceofactualguaranteeforsubsidiariesattheendofreportingperiod(C4) | 0 | |||||||
| Guaranteesituationofsubsidiariestosubsidiaries | ||||||||||
| Totalamountofapprovingguaranteeinreportperiod(A1+B1+C1) | 175,400 | Totalamountofactualoccurredguaranteeinreportperiod(A2+B2+C2) | 93,285 | |||||||
| Totalamountofapprovedguaranteeattheendofreportperiod(A3+B3+C3) | 783,089 | Totalbalanceofactualguaranteeattheendofreportperiod(A4+B4+C4) | 309,940 | |||||||
| TheproportionofthetotalamountofactualguaranteeinthenetassetsoftheCompany(thatisA4+B4+C4) | 26.23% | |||||||||
| Including: | |
| Amountofguaranteeforshareholders,actualcontrolleranditsrelatedparties(D) | 0 |
| Thedebtsguaranteeamountprovidedfortheguaranteedpartieswhoseassets-liabilityratioexceed70%directlyorindirectly(E) | 28,194 |
| ProportionoftotalamountofguaranteeinnetassetsoftheCompanyexceed50%(F) | 0 |
| Totalamountoftheaforesaidthreeguarantees(D+E+F) | 28,194 |
| Fortheguaranteecontractnotyetdue,guaranteeresponsibilityincurredinthereportingperiodorthereisevidenceshowingthedescriptionofthepossiblerelateddischargeduty(ifany) | N/A |
| Explanationsonexternalguaranteeagainstregulatedprocedures(ifany） | N/A |
Note:
1.TheCompany's2021AnnualGeneralMeetingofShareholdersreviewedandapprovedthe"Proposalonthe2022AnnualGuaranteePlan",andtheGeneralMeetingofShareholdersagreedtoprovideguaranteeforthe2022annualcreditlineoffinancialinstitutionsofsubsidiariesatalllevels(hereinafterreferredtoas"subsidiaries")withinthescopeoftheconsolidatedstatementswithatotalamountnotexceedingtheequivalentvalueof
16.268billionyuan(includingtheeffectiveandunexpiredlimit).Amongthem,thetotalamountofguaranteeshallnotexceedtheequivalentofRMB
15.018billion(includingtheeffectiveandunexpiredamount)foreachsubsidiarywithanassetliabilityratiooflessthan70%,andthetotalamountofguaranteeshallnotexceedtheequivalentofRMB1.25billion(includingtheeffectiveandunexpiredamount)foreachsubsidiarywithanassetliabilityratioofmorethan70%.AllexternalguaranteesoftheCompanyareguaranteesforsubsidiarieswithinthescopeofconsolidatedstatements.AsofJune30,2022,theactualguaranteebalancewasRMB3,099.4million(ofwhichtheactualguaranteebalancewithanassetliabilityratioofmorethan70%(inclusive)wasRMB281.94million),accountingfor27.12%oftheparentcompany'snetassetsofRMB11,429.66millionattheendof2021and15.54%ofthetotalassetsofRMB19,939.36million;Accountingfor26.23%ofthenetassetsofRMB11,817.42millionattributabletotheparentcompanyattheendofthereportperiodand13.79%ofthetotalassetsofRMB22,471.18million.TheCompanyhasnooverdueguarantee.
2.TheCompany's2021AnnualGeneralMeetingofShareholdersreviewedandapprovedthe"ProposalontheDevelopmentofAssetPoolBusinessin2022".InordertomeettheoverallmanagementoftheCompany'sassetssuchasbillsandlettersofcreditandtomeettheneedsoffinancialinstitutions'productupgrades,theGeneralMeetingofShareholdersapprovedtheCompanyanditssubsidiaries.TheCompanyconductsassetpoolbusinessofnomorethanRMB800million.Underthepremiseofcontrollablerisks,variousguaranteemethodssuchasmaximumpledge,generalpledge,depositcertificatepledge,billpledge,andmarginpledgecanbeadoptedforbusinessdevelopment.AsofJune30,2022,theactualpledgeamountandfinancingbalanceoftheassetpoolbusinessareRMB0yuan.
3.EntrustedFinancing
√Applicable□Notapplicable
Unit:RMB0,000
| Type | Sourceoffundsforentrustedfinancing | Amountofentrustedfinancing | Outstandingbalance | Amountnotcollectedaftertheduedate | Amountofimpairmentaccruedforoverdueuncollectedentrustedfinancing |
| Structureddeposit | Ownfunds | 132,816 | 120,900 | 0 | 0 |
| Total | 132,816 | 120,900 | 0 | 0 | |
Detailsofhigh-riskentrustedfinancingwithsignificantsingleamountorlowsecurityandpoorliquidity
□Applicable√Notapplicable
Entrustedfinancingexpectedtobeunabletorecovertheprincipalorothercircumstancesthatmayleadtoimpairment
□Applicable√Notapplicable
4.Othermajorcontracts
√Applicable□Notapplicable
| Nameofcompanysigningthecontract | Nameoftheotherpartysigningthecontract | Subjectmatter | Contractsigningdate | Pricingprinciple | Totalcontractamount(RMB0,000) | Related-partytransactionornot | Association | Implementationasoftheendofthereportperiod | Dateofdisclosure | Disclosureindex |
| WujiangCSGGlassCo.,Ltd.,DongguanCSGSolarGlassCo.,Ltd. | LONGiSolarTechnologyLtd.,ZhejiangLONGiSolarTechnologyLtd.,TaizhouLONGiSolarTechnologyLtd.,YinchuanLONGiSolarTechnologyLtd.,ChuzhouLONGiSolarTechnologyLtd.,DatongLONGiSolarTechnologyLtd.,LONGi(H.K.)TradingLimited,LONGi | Photovoltaicglass | July31,2020 | Fairvalue | 650,000 | No | Nil | Inprogress | August3,2020 | NoticeNo.:2020-060 |
XIII.Statementonotherimportantmatters
√Applicable□Notapplicable
1.Ultra-short-termfinancingbillsOnJune15,2020,theThirdExtraordinaryShareholders’GeneralMeeting2020ofCSGdeliberatedandapprovedtheproposalonapplicationforregistrationandissuanceofultra-short-termfinancingbillsandmedium-termnotes,whichagreedthattheCompanyshouldregisterandissueultra-short-termfinancingbillswitharegisteredamountnotexceeding1.5billionyuan(thelimitisnotsubjecttothelimitof40%ofnetassets).Withtheperiodofvalidityofthequotanotlongerthantwoyears,suchultra-short-termfinancingbillswillbeissuedbyinstallmentsinaccordancewiththeactualcapitalneedsoftheCompanyandthesituationofinter-bankmarketfunds.OnSeptember4,2020,theNAFMIIheldits102ndregistrationmeetingin2020anddecidedtoaccepttheregistrationofultra-short-termfinancingbillswithatotalof1.5billionyuanandavalidityperiodoftwoyears.OnMay16,2022,theCompany's2021annualgeneralmeetingreviewedandapprovedthe"ProposalonApplicationforRegistrationandIssuanceofMedium-TermNotesandUltra-short-termFinancingBills",whichagreedthattheCompanywouldregisterandissueultra-short-termfinancingbillswitharegisteredamountofnotmorethan1billionyuan,TheCompanycanissueoneormoretimeswithinthevalidityperiodoftheregistrationaccordingtotheactualcapitalneedsandthecapitalsituationoftheinter-bankmarket.
2.Medium-termnotesOnJune15,2020,theThirdExtraordinaryShareholders’GeneralMeeting2020ofCSGdeliberatedandapprovedtheproposalonapplicationforregistrationandissuanceofultra-short-termfinancingbillsandmedium-termnotes,whichagreedthattheCompanyshouldregisterandissuemedium-termnoteswitharegisteredamountnotexceeding1.5billionyuan.Withtheperiodofvalidityofthequotanotlongerthantwoyears,suchultra-short-termfinancingbillswillbeissuedbyinstallmentsinaccordancewiththeactual
capitalneedsoftheCompanyandthesituationofinter-bankmarketfunds.OnSeptember4,2020,theNAFMIIheldthe102ndregistrationmeetingin2020anddecidedtoacceptthecompany'sregistrationofmedium-termnoteswithatotalof1.5billionyuanandavalidityperiodoftwoyears.OnMay16,2022,theCompany's2021annualgeneralmeetingreviewedandapprovedthe"ProposalonApplicationforRegistrationandIssuanceofMedium-termNotesandUltra-short-termFinancingBills",whichagreedthattheCompanywouldregisterandissuemedium-termnoteswitharegisteredamountofnotmorethan2billionyuan.Actualcapitalneedsandinter-bankmarketcapitalstatus,canbeissuedoneormoretimeswithinthevalidityperiodofregistration.
3.PublicissuanceofcorporatebondsOnMarch2,2017,the2ndExtraordinaryGeneralMeetingofShareholdersin2017reviewedandapproved“theProposalonthePublicIssuanceofCorporateBondsforQualifiedInvestors".OnFebruary27,2019,theFirstExtraordinaryGeneralMeetingofShareholdersin2019The“ProposalonExtendingtheValidityPeriodoftheShareholders'MeetingforthePublicOfferingofCorporateBondstoQualifiedInvestors”agreedtoissuecorporatebondswithatotalissueofnomorethanRMB2billionandatermofnomorethan10years.OnJune26,2019,theCompanyreceivedthe“ApprovalofApprovingCSGHoldingCo.,Ltd.toIssueCorporateBondstoQualifiedInvestors”issuedbyChinaSecuritiesRegulatoryCommission(ZJXK[2019]No.1140).OnMarch24,2020andMarch25,2020,theCompanyissuedthefirstbatchofcorporatebondswithtotalamountofRMB2billionandvalidtermof3yearsattheissuancerateof6%,whichwillberedeemedonMarch25,2023(fordetails,pleasereferto"SectionIXBonds").
4.PublicissuanceofA-shareconvertiblecorporatebondsOnJuly11,2022,theCompany's2ndExtraordinaryGeneralMeetingofShareholdersin2022reviewedandapprovedrelevantproposalsontheCompany'spublicissuanceofA-shareconvertiblecorporatebonds,andagreedtoissueA-shareconvertiblecorporatebonds.ThetotalamountoffundsraisedwouldnotexceedRMB2,800,000,000(includingRMB2,800,000,000),withatermof6yearsfromthedateofissuance.
5.PassivereductionofSouthernGlassAsharesheldbyZhongshanRuntianInvestmentCo.,Ltd.OnJuly12,2022,theCompanyreceivedthe"NoticeLetter"fromChongqingXinyuFinancialLeasingCo.,Ltd.(hereinafterreferredtoas"ChongqingXinyu").Accordingtothe"NotificationLetter",theShenzhenIntermediateCourtruledtosell67.65million"SouthernGlassA"shares(stockcode:000012)heldbyZhongshanRuntianInvestmentCo.,Ltd.(hereinafterreferredtoas"ZhongshanRuntian").OnJuly27,July28andJuly29,2022,ChongqingXinyuforciblysoldatotalof55.6289millionSouthernGlassAsharesheldbyZhongshanRuntianthroughblocktransactions,accountingfor1.81%oftheCompany'stotalsharecapital.Afterthepassivereductionoftheaforementionedshares,thenumberofsharesheldbyZhongshanRuntiandecreasedfrom86,633,447sharesto31,004,547shares,andtheshareholdingratiodecreasedfrom2.82%to1.01%.
6.ThematterofthespecialfundofRMB171millionfortalentintroductionRegardingthespecialfundofRMB171millionfortalentintroduction,theCompanyfiledaninfringementcompensationlawsuitagainstZengNanandothersandYichangHongtaiRealEstateCo.,Ltd.onDecember15,2021,andShenzhenIntermediatePeople'sCourtofficiallyaccepteditonJanuary28,2022.ThefirsttrialofthecasewascompletedinShenzhenIntermediatePeople'sCourtonJune21,2022,andiscurrentlyawaitingjudgment.XIV.SignificanteventsofsubsidiariesoftheCompany
□Applicable√Notapplicable
SectionVII.ChangesinSharesandParticularsaboutShareholdersI.ChangesinShareCapital
1.ChangesinShareCapital
Unit:Share
| BeforetheChange(Note) | Increase/DecreaseintheChange(+,-) | AftertheChange | |||||||
| Amount | Proportion(%) | Newsharesissued | Bonusshares | Capitalizationofpublicreserve | Others | Subtotal | Amount | Proportion(%) | |
| I.Restrictedshares | 4,736,796 | 0.15% | -188,500 | -188,500 | 4,548,296 | 0.15% | |||
| 1.State-ownedshares | |||||||||
| 2.State-ownedlegalperson’sshares | |||||||||
| 3.Otherdomesticshares | 4,736,796 | 0.15% | -188,500 | -188,500 | 4,548,296 | 0.15% | |||
| Including:Domesticlegalperson’sshares | |||||||||
| Domesticnaturalperson’sshares | 4,736,796 | 0.15% | -188,500 | -188,500 | 4,548,296 | 0.15% | |||
| 4.Foreignshares | |||||||||
| Including:Foreignlegalperson’sshares | |||||||||
| Foreignnaturalperson’sshares | |||||||||
| II.Unrestrictedshares | 3,065,955,311 | 99.85% | 188,500 | 188,500 | 3,066,143,811 | 99.85% | |||
| 1.RMBOrdinaryshares | 1,956,586,251 | 63.72% | 188,500 | 188,500 | 1,956,774,751 | 63.72% | |||
| 2.Domesticallylistedforeignshares | 1,109,369,060 | 36.13% | 1,109,369,060 | 36.13% | |||||
| 3.Overseaslistedforeignshares | |||||||||
| 4.Others | |||||||||
| III.Totalshares | 3,070,692,107 | 100% | 3,070,692,107 | 100% | |||||
Reasonforequitychanges
√Applicable□NotapplicableDuringthereportperiod,ChinasecuritiesregistrationandclearingCo.,Ltd.Adjustedthelocked-upsharesofseniormanagementinaccordancewithregulations,andtheCompany’srestrictedsharesandunrestrictedshareschangedaccordingly.Approvalonequitychanges
□Applicable√NotapplicableTransferofownershipforequitychanges
□Applicable√Notapplicable
Implementationprogressofsharebuyback
□Applicable√NotapplicableImplementationprogressofsharebuybackreductionthroughcentralizedbidding
□Applicable√NotapplicableInfluenceonthebasicEPSanddilutedEPSaswellasotherfinancialindexesofnetassetspershareattributabletocommonshareholdersofCompanyinthelatestyearandperiod
□Applicable√NotapplicableOtherinformationnecessarytobedisclosedorneedtobedisclosedunderrequirementfromsecurityregulators
□Applicable√Notapplicable
2.Changesofrestrictedshares
√Applicable□Notapplicable
Unit:Share
| Shareholders’name | Numberofsharesrestrictedatthebeginningoftheperiod | NumberofsharesreleasedinthePeriod | NumberofsharesrestrictedincreasedinthePeriod | NumberofsharesrestrictedattheendofthePeriod | Reasonforrestriction | Releaseddate |
| ChenLin | 1,217,299 | 1,217,299 | Executivelockupstocksof1,217,299shares | Releasingofexecutivelockupstockswillbeimplementedaccordingtorelevantpolicies. | ||
| HeJin | 673,200 | 673,200 | Executivelockupstocksof673,200shares | Releasingofexecutivelockupstockswillbeimplementedaccordingtorelevantpolicies. | ||
| WangWenxin | 0 | 115,950 | 115,950 | Executivelockupstocksof115,950shares | Releasingofexecutivelockupstockswillbeimplementedaccordingtorelevantpolicies. | |
| WangJian | 759,000 | 759,000 | Executivelockupstocksof759,000shares | Releasingofexecutivelockupstockswillbeimplementedaccordingtorelevantpolicies. | ||
| YangXinyu | 869,499 | 869,499 | Executivelockupstocksof869,499shares | Releasingofexecutivelockupstockswillbeimplementedaccordingtorelevantpolicies. | ||
| LuWenhui | 1,217,298 | 304,325 | 912,973 | Executivelockupstocksof912,973shares | Releasingofexecutivelockupstockswillbeimplementedaccordingtorelevantpolicies. | |
| GaoChangkun | 500 | 125 | 375 | Executivelockupstocksof375shares | Releasingofexecutivelockupstockswillbeimplementedaccordingtorelevantpolicies. |
| Total | 4,736,796 | 304,450 | 115,950 | 4,548,296 | -- | -- |
Note:ThechangeinrestrictedsharesduringthereportingperiodwascausedbyChinaSecuritiesDepositoryandClearingCo.,Ltd.'sadjustmentofthelocked-upsharesofseniorexecutivesinaccordancewithregulations.II.IssuanceandlistingofSecurities
□Applicable√Notapplicable
III.AmountofshareholdersoftheCompanyandparticularsaboutsharesholding
Unit:share
| Totalamountofshareholdersattheendofthereportperiod | 159,423 | Totalamountofthepreferredshareholderswhohaveresumedthevotingrightatendofreportperiod(ifapplicable) | 0 | ||||||||
| Shareholderwithabove5%sharesheldortoptenshareholders | |||||||||||
| FullnameofShareholders | Natureofshareholder | Proportionofsharesheld(%) | Totalsharesheldattheendofreportperiod | Changesinreportperiod | Amountofrestrictedsharesheld | Amountofun-restrictedsharesheld | Numberofsharepledged/frozen | ||||
| Sharestatus | Amount | ||||||||||
| ForeseaLifeInsuranceCo.,Ltd.–HailiNiannian | Domesticnonstate-ownedlegalperson | 15.19% | 466,386,874 | 466,386,874 | |||||||
| ForeseaLifeInsuranceCo.,Ltd.–UniversalInsuranceProducts | Domesticnonstate-ownedlegalperson | 3.86% | 118,425,007 | 118,425,007 | |||||||
| ZhongshanRuntianInvestmentCo.,Ltd. | Domesticnonstate-ownedlegalperson | 2.82% | 86,633,447 | 86,633,447 | Pledged | 86,630,000 | |||||
| Marked | 86,630,000 | ||||||||||
| Frozen | 3,447 | ||||||||||
| ForeseaLifeInsuranceCo.,Ltd.–OwnFund | Domesticnonstate-ownedlegalperson | 2.11% | 64,765,161 | 64,765,161 | |||||||
| ChinaMerchantsSecurities(HK)Co.,Limited | State-ownedlegalperson | 1.37% | 42,050,889 | -318,099 | 42,050,889 | ||||||
| ChinaGalaxyInternationalSecurities(HongKong)Co.,Limited | Foreignlegalperson | 1.34% | 41,219,778 | 41,219,778 | |||||||
| NationalSocialSecurityFund418Portfolio | Domesticnonstate-ownedlegalperson | 1.19% | 36,649,229 | 36,649,229 | 36,649,229 | ||||||
| CITICSecurities-ChinaCITIC | Domesticnon | 1.07% | 32,888,875 | 32,888,875 | 32,888,875 | ||||||
| Bank-CITICSecuritiesExcellentGrowthTwo-YearHoldingPeriodHybridCollectiveAssetManagementPlan | state-ownedlegalperson | |||||||||
| ChinaLifeInsuranceCo.,Ltd.-Traditional-GeneralInsuranceProducts-005L-CT001Shen | Domesticnonstate-ownedlegalperson | 1.03% | 31,645,064 | 1,808,796 | 31,645,064 | |||||
| VANGUARDEMERGINGMARKETSSTOCKINDEXFUND | Foreignlegalperson | 0.65% | 19,885,573 | -1,445,024 | 19,885,573 | |||||
| Strategicinvestorsorgenerallegalpersonbecomestop10shareholdersduetosharesissued(ifapplicable) | N/A | |||||||||
| Explanationonassociatedrelationshipamongtheaforesaidshareholders | Asoftheendofthereportperiod,amongshareholdersaslistedabove,ForeseaLifeInsuranceCo.,Ltd.-HailiNiannian,ForeseaLifeInsuranceCo.,Ltd.-UniversalInsuranceProducts,ForeseaLifeInsuranceCo.,Ltd.-OwnFundareallheldbyForeseaLifeInsuranceCo.,Ltd.ZhongshanRuntianInvestmentCo.,Ltd.isarelatedlegalpersonofForeseaLifeInsuranceCo.,Ltd.andChengtaiGroupCo.,Ltd.,anotherrelatedlegalpersonofForeseaLifeInsuranceCo.,Ltd,whichheld40,187,904sharesviaChinaGalaxyInternationalSecurities(HongKong)Co.,Limited.Exceptfortheabove-mentionedshareholders,itisunknownwhetherothershareholdersbelongtorelatedpartyorhaveassociatedrelationshipregulatedbyAdministrationoftheTakeoverofListedCompaniesProcedures. | |||||||||
| Explanationoftheabove-mentionedshareholders'entrusted/beingentrustedvotingrightsandwaiverofvotingrights | N/A | |||||||||
| Specialinstructionsontheexistenceofspecialrepurchaseaccountamongthetop10shareholders(ifapplicable) | N/A | |||||||||
| Particularabouttoptenshareholderswithun-restrictedsharesheld | ||||||||||
| Shareholders’name | Amountofun-restrictedsharesheldatyear-end | Typeofshares | ||||||||
| Type | Amount | |||||||||
| ForeseaLifeInsuranceCo.,Ltd.–HailiNiannian | 466,386,874 | RMBordinaryshares | 466,386,874 | |||||||
| ForeseaLifeInsuranceCo.,Ltd.–UniversalInsuranceProducts | 118,425,007 | RMBordinaryshares | 118,425,007 | |||||||
| ZhongshanRuntianInvestmentCo.,Ltd. | 86,633,447 | RMBordinaryshares | 86,633,447 | |||||||
| ForeseaLifeInsuranceCo.,Ltd.–OwnFund | 64,765,161 | RMBordinaryshares | 64,765,161 |
| ChinaMerchantsSecurities(HK)Co.,Limited | 42,050,889 | Domesticallylistedforeignshares | 42,050,889 |
| ChinaGalaxyInternationalSecurities(HongKong)Co.,Limited | 41,219,778 | Domesticallylistedforeignshares | 41,219,778 |
| NationalSocialSecurityFund418Portfolio | 36,649,229 | RMBordinaryshares | 36,649,229 |
| CITICSecurities-ChinaCITICBank-CITICSecuritiesExcellentGrowthTwo-YearHoldingPeriodHybridCollectiveAssetManagementPlan | 32,888,875 | RMBordinaryshares | 32,888,875 |
| ChinaLifeInsuranceCo.,Ltd.-Traditional-GeneralInsuranceProducts-005L-CT001Shen | 31,645,064 | RMBordinaryshares | 31,645,064 |
| VANGUARDEMERGINGMARKETSSTOCKINDEXFUND | 19,885,573 | Domesticallylistedforeignshares | 19,885,573 |
| Explanationoftherelatedrelationshiporconcertedactionbetweenthetop10ordinaryshareholdersofunrestrictedshares,andbetweenthetop10ordinaryshareholdersofunrestrictedsharesandthetop10ordinaryshareholders | Asoftheendofthereportperiod,amongshareholdersaslistedabove,ForeseaLifeInsuranceCo.,Ltd.-HailiNiannian,ForeseaLifeInsuranceCo.,Ltd.-UniversalInsuranceProducts,ForeseaLifeInsuranceCo.,Ltd.-OwnFundareallheldbyForeseaLifeInsuranceCo.,Ltd.ZhongshanRuntianInvestmentCo.,Ltd.isarelatedlegalpersonofForeseaLifeInsuranceCo.,Ltd.andChengtaiGroupCo.,Ltd.,anotherrelatedlegalpersonofForeseaLifeInsuranceCo.,Ltd,whichheld40,187,904sharesviaChinaGalaxyInternationalSecurities(HongKong)Co.,Limited.Exceptfortheabove-mentionedshareholders,itisunknownwhetherothershareholdersbelongtorelatedpartyorhaveassociatedrelationshipregulatedbyAdministrationoftheTakeoverofListedCompaniesProcedures. | ||
| Descriptionofthetop10ordinaryshareholdersparticipatinginmargintradingandsecuritieslendingbusinessshareholders(ifapplicable) | N/A | ||
Specialnote:OnJuly11,2022,attheCompany'sSecondExtraordinaryGeneralMeetingin2022,ForeseaLifeInsuranceCo.,Ltd.votedinfavorofallproposals,andZhongshanRuntianInvestmentCo.,Ltd.votedagainstallproposals,ChengtaiGroupCo.,Ltd.votedagainstalltheproposalswiththesharesheldbyChinaGalaxyInternationalSecurities(HongKong)Co.,Limited;onAugust3,2022,attheCompany'sThirdExtraordinaryGeneralMeetingin2022,ForeseaLifeInsuranceCo.,Ltd.votedinfavorofallproposals,andZhongshanRuntianInvestmentCo.,Ltd.votedagainstallproposals.Whetherthetoptenshareholdersortoptenshareholderswithun-restrictedsharescarriedoutbuybackdealsinthereportperiod
□Yes√NoThetoptenshareholdersortoptenshareholderswithun-restrictedsharesdidnotcarryoutbuybackdealsinthereportperiod.
IV.Changesintheshareholdingofdirectors,supervisorsandseniorexecutives
√Applicable□Notapplicable
| Name | Title | Workingstatus | Sharesheldatperiod-begin(Share) | Amountofsharesincreasedinthisperiod(Share) | Amountofsharesdecreasedinthisperiod(Share) | Sharesheldatperiod-end(Share) | Numberofrestrictedsharesgrantedatperiod-begin(Share) | Numberofrestrictedsharesgrantedinthisperiod(shares) | Numberofrestrictedsharesgrantedatperiod-end(Share) |
| WangWenxin | VicePresidentandChiefFinancialOfficer | Incumbent | 154,600 | 0 | 0 | 154,600 | 0 | 0 | 0 |
| Total | -- | -- | 154,600 | 0 | 0 | 154,600 | 0 | 0 | 0 |
V.Changesofcontrollingshareholderoractualcontroller
Changesofcontrollingshareholdersinthereportperiod
□Applicable√NotapplicableChangesofactualcontrollerinthereportperiod
□Applicable√Notapplicable
SectionVIII.Preferredshares
□Applicable√NotapplicableTherewerenopreferredsharesintheCompanyduringthereportperiod.
SectionIX.Bonds
√Applicable□Notapplicable
I.Enterprisebonds
□Applicable√NotapplicableTheCompanyhadnoenterprisebondsduringthereportperiod.II.Corporatebonds
√Applicable□Notapplicable
1.Basicinformationaboutcorporatebonds
Unit:RMB
| Name | Shortname | Bondcode | Issuedate | Valuedate | Maturitydate | Bondbalance | Interestrate | Wayofrepaymentofprincipalandinterest | Tradingplace |
| CSG’sPublicIssuanceofCorporateBondstoQualifiedInvestors2020(PhaseI) | 20CSG01 | 149079 | 2020-3-24to2020-3-25 | 2020-3-25 | 2023-3-25 | 2,000,000,000 | 6.00% | Usesimpleinteresttocalculatetheannualinterest,excludingcompoundinterest.Interestispaidonceayear,principalisrepaidoncedue,andthelastinstallmentofinterestispaidtogetherwiththeprincipal. | ShenzhenStockExchange |
| Appropriatearrangementsforinvestors | ThecorporatebondsshallbepubliclyissuedtoqualifiedinstitutionalinvestorswhohaveopenedqualifiedA-sharesecuritiesaccountsintheShenzhenbranchofChinasecuritiesregistrationandclearingCo.,Ltd.,inaccordancewiththeprovisionsofthe"MeasuresfortheAdministrationofCorporateBondIssuanceandTrading". |
| Applicabletradingmechanism | Matchingtransaction,clicktransaction,inquirytransaction,biddingtransactionandnegotiationtransaction. |
| Whethertherearerisks(ifany)ofterminatinglistingtransactionsandcountermeasures | No |
Overduebonds
□Applicable√Notapplicable
2.Triggeringandimplementationofissuerorinvestoroptionclausesandinvestorprotectionclauses
□Applicable√Notapplicable
3.Adjustmentofcreditratingresultsduringthereportperiod
□Applicable√Notapplicable
4.Theimplementationandchangesofguarantees,debtrepaymentplansandotherdebtrepaymentsafeguardmeasuresduringthereportingperiod,andtheirimpactontherightsandinterestsofbondinvestors
√Applicable□NotapplicableDuringthereportperiod,theguaranteesituationof“20CSG01”andotherdebtrepaymentsafeguardmeasuresofthedebtrepaymentplanremainedunchanged,whichwereconsistentwiththerelevantcommitmentsintheprospectus.Thebasicinformationisasfollows:
I.GuaranteesituationThereisnoguaranteeforthisbond.II.Debtrepaymentplan"20CSG01"willpayinterestonceayearduringitsduration,andtheprincipalwillberepaidonceuponmaturity.Theinterestofthelastperiodwillbepaidtogetherwiththerepaymentoftheprincipal.Thepaymentdateof"20CSG01"isMarch25ofeachyearfrom2021to2023,andthepaymentdateisMarch25,2023(incaseofastatutoryholidayorrestday,itwillbepostponedtothefirsttradingdaythereafter).Ⅲ.RepaymentsafeguardsTheguaranteemeasuresfordebtrepaymentincludeconfirmingthespecializeddepartmentsandpersonnelarrangingthefundsforrepayment,strictlyimplementingtheuseoftheraisedfunds,givingfullplaytotheroleofbondtrustee,settingtherulesforbondholders'meetings,strictlyfulfillingtheobligationofinformationdisclosure,tofullyandeffectivelyprotecttheinterestsofbondholders.
III.Debtfinancinginstrumentsofnon-financialenterprises
□Applicable√NotapplicableDuringthereportperiod,theCompanydidnothavenon-financialcorporatedebtfinancinginstruments.
IV.Convertiblecorporatebonds
□Applicable√NotapplicableDuringthereportperiod,theCompanydidnothaveconvertiblecorporatebonds.V.Thelosswithinthescopeofconsolidatedstatementsinthereportingperiodexceeded10%ofthenetassetsattheendofthepreviousyear
□Applicable√Notapplicable
VI.Mainaccountingdataandfinancialindicatorsofthecompanyinrecenttwoyearsbytheendofthereportingperiod
RMB0,000
| Item | Attheendofthereportperiod | Attheendofthepreviousyear | Increaseanddecreaseattheendofthereportcomparedwiththeendofthepreviousyear |
| Currentratio | 1.23 | 1.66 | -25.90% |
| Asset-liabilityratio | 45% | 40% | 5% |
| Quickratio | 0.95 | 1.38 | -31.16% |
| Thereportperiod | Thesameperiodofthepreviousyear | Increaseanddecreaseinthereportperiodoverthesameperiodoflastyear | |
| Netprofitafterdeductingnon-recurringgainsandlosses | 88,759 | 132,981 | -33.25% |
| EBITDAtotaldebtratio | 17% | 32% | -15% |
| Interestcoverageratio | 10.69 | 16.70 | -35.99% |
| Cashinterestcoverageratio | 12.34 | 19.79 | -37.65% |
| EBITDAinterestcoverageratio | 14.64 | 21.35 | -31.43% |
| Loanrepaymentrate | 100% | 100% | 0% |
| Interestcoverageratio | 100% | 100% | 0% |
SectionX.FinancialReportI.Auditors’ReportWhethertheSemi-annualReporthasbeenauditedornot
□Yes√NoTheCompany'sSemi-annualReporthasnotbeenaudited.
II.FinancialStatementsAllfiguresintheNotestotheFinancialStatementsareinRMB.
1.ConsolidatedBalanceSheetPreparedbyCSGHoldingCo.,Ltd.
June30,2022
Unit:RMB
| Item | June30,2022 | January1,2022 |
| Currentassets： | ||
| Cashatbankandonhand | 2,870,042,541 | 2,765,925,906 |
| Tradingfinancialassets | 1,209,000,000 | 999,600,000 |
| Notesreceivable | 445,375 | 19,220,984 |
| Accountsreceivable | 842,283,667 | 730,525,687 |
| Receivablesfinancing | 582,328,808 | 297,046,123 |
| Advancestosuppliers | 235,326,059 | 76,097,276 |
| Otherreceivables | 201,090,652 | 183,696,711 |
| Inventories | 1,766,912,399 | 1,093,805,525 |
| Othercurrentassets | 68,616,670 | 140,705,298 |
| Totalcurrentassets | 7,776,046,171 | 6,306,623,510 |
| Non-currentassets | ||
| Investmentproperty | 383,084,500 | 383,084,500 |
| Fixedassets | 9,336,413,529 | 8,566,515,026 |
| Constructioninprogress | 2,809,337,684 | 2,461,088,650 |
| Rightofuseassets | 9,034,632 | 9,911,935 |
| Intangibleassets | 1,209,525,068 | 1,167,611,402 |
| Developmentexpenditure | 91,718,822 | 72,019,362 |
| Goodwill | 130,147,859 | 130,147,859 |
| Long-termprepaidexpenses | 3,234,021 | 3,013,721 |
| Deferredtaxassets | 196,661,447 | 255,185,923 |
| Othernon-currentassets | 525,974,043 | 584,162,622 |
| Totalnon-currentassets | 14,695,131,605 | 13,632,741,000 |
| Totalassets | 22,471,177,776 | 19,939,364,510 |
1.ConsolidatedBalanceSheet(continued)
PreparedbyCSGHoldingCo.,Ltd.
June30,2022
Unit:RMB
| Item | 30-Jun-22 | 1-Jan-22 |
| Currentliabilities： | ||
| Short-termborrowings | 468,108,522 | 180,770,000 |
| Notespayable | 549,939,628 | 400,662,713 |
| Accountspayable | 1,796,932,531 | 1,428,851,312 |
| Contractliabilities | 413,885,125 | 335,188,642 |
| Employeebenefitspayable | 287,729,142 | 426,212,979 |
| Taxespayable | 154,652,150 | 185,009,681 |
| Otherpayables | 221,866,936 | 289,440,477 |
| Ofwhich:interestpayable | 36,640,548 | 95,001,362 |
| Non-currentliabilitiesduewithinoneyear | 2,371,913,539 | 503,820,548 |
| Othercurrentliabilities | 47,730,142 | 40,099,309 |
| Totalcurrentliabilities | 6,312,757,715 | 3,790,055,661 |
| Non-currentliabilities | ||
| Long-termborrowings | 3,161,136,468 | 1,469,059,824 |
| Bondspayable | 1,996,587,330 | |
| leaseliability | 220,138 | |
| Long-termpayables | 149,062,955 | 168,258,062 |
| Deferredincome | 495,313,618 | 564,129,128 |
| Deferredtaxliabilities | 91,256,653 | 84,580,132 |
| Totalnon-currentliabilities | 3,896,769,694 | 4,282,834,614 |
| Totalliabilities | 10,209,527,409 | 8,072,890,275 |
| Shareholders’equity | ||
| Sharecapital | 3,070,692,107 | 3,070,692,107 |
| Capitalsurplus | 596,997,085 | 596,997,085 |
| Othercomprehensiveincome | 165,368,070 | 159,200,530 |
| Specialreserves | 1,852,703 | 7,296,397 |
| Surplusreserve | 1,144,887,510 | 1,144,887,510 |
| Undistributedprofits | 6,837,623,394 | 6,450,587,417 |
| Totalequityattributabletoshareholdersofparentcompany | 11,817,420,869 | 11,429,661,046 |
| Minorityshareholders'equity | 444,229,498 | 436,813,189 |
| Totalshareholders'equity | 12,261,650,367 | 11,866,474,235 |
| Totalliabilitiesandshareholders'equity | 22,471,177,776 | 19,939,364,510 |
LegalRepresentative:ChenLinPrincipalinchargeofaccounting:WangWenxinPrincipalofthefinancialdepartment:
WangWenxin
2.BalanceSheetoftheParentCompanyPreparedbyCSGHoldingCo.,Ltd.
June30,2022
Unit:RMB
| Item | June30,2022 | January1,2022 |
| Currentassets | ||
| Cashatbankandonhand | 2,017,872,177 | 1,961,406,035 |
| Tradingfinancialassets | 1,209,000,000 | 999,600,000 |
| Accountsreceivable | 1,996,267 | |
| ReceivablesFinancing | 15,299,671 | |
| Advancestosuppliers | 699,982 | 639,164 |
| Otherreceivables | 2,624,297,723 | 2,899,091,405 |
| Ofwhich:dividendsreceivable | 250,000,000 | 250,000,000 |
| Othercurrentassets | 1,226 | |
| Totalcurrentassets | 5,869,167,046 | 5,860,736,604 |
| Non-currentassets | ||
| Long-termequityinvestments | 6,899,675,709 | 6,262,391,694 |
| Fixedassets | 9,002,995 | 11,509,029 |
| Intangibleassets | 3,382,512 | 2,102,548 |
| Othernon-currentassets | 104,236,952 | 104,109,111 |
| Totalnon-currentassets | 7,016,298,168 | 6,380,112,382 |
| Totalassets | 12,885,465,214 | 12,240,848,986 |
2.BalanceSheetoftheParentCompany(continued)
PreparedbyCSGHoldingCo.,Ltd.
June30,2022
Unit:RMB
| Item | June30,2022 | January1,2022 |
| Currentliabilities | ||
| Short-termborrowings | 300,000,000 | 100,000,000 |
| Billspayable | 13,523,441 | |
| Accountspayable | 464,790 | 315,684 |
| Contractliabilities | 3,339,466 | |
| Employeebenefitspayable | 31,843,275 | 68,534,315 |
| Taxespayable | 15,815,743 | 8,316,132 |
| Otherpayables | 2,075,266,331 | 2,067,472,879 |
| Ofwhich:interestpayable | 34,012,995 | 93,596,328 |
| Non-currentliabilitiesduewithinoneyear | 2,232,931,024 | 400,000,000 |
| Othercurrentliabilities | 434,130 | |
| Totalcurrentliabilities | 4,673,618,200 | 2,644,639,010 |
| Non-currentliabilities | ||
| Long-termborrowings | 1,245,000,000 | 690,000,000 |
| Bondspayable | 1,996,587,330 | |
| Deferredincome | 172,312,500 | 172,500,000 |
| Totalnon-currentliabilities | 1,417,312,500 | 2,859,087,330 |
| Totalliabilities | 6,090,930,700 | 5,503,726,340 |
| Shareholders’equity | ||
| Sharecapital | 3,070,692,107 | 3,070,692,107 |
| Capitalsurplus | 741,824,399 | 741,824,399 |
| Surplusreserve | 1,159,432,870 | 1,159,432,870 |
| Undistributedprofits | 1,822,585,138 | 1,765,173,270 |
| Totalshareholders'equity | 6,794,534,514 | 6,737,122,646 |
| Totalliabilitiesandshareholders'equity | 12,885,465,214 | 12,240,848,986 |
LegalRepresentative:ChenLinPrincipalinchargeofaccounting:WangWenxinPrincipalofthefinancialdepartment:
WangWenxin
3.ConsolidatedIncomeStatementPreparedbyCSGHoldingCo.,Ltd.
Unit:RMB
| Item | Halfyearof2022 | Halfyearof2021 |
| I.Totalrevenue | 6,519,216,676 | 6,614,802,538 |
| Ofwhich:Businessincome | 6,519,216,676 | 6,614,802,538 |
| II.Totalbusinesscost | 5,480,144,295 | 4,992,720,799 |
| Ofwhich:Businesscost | 4,637,645,927 | 4,126,627,145 |
| Taxandsurcharge | 61,280,622 | 73,966,054 |
| Salesexpenses | 133,906,652 | 125,326,015 |
| Administrativeexpenses | 318,635,812 | 354,914,704 |
| R&Dexpenses | 265,877,930 | 224,886,882 |
| Financialexpenses | 62,797,352 | 86,999,999 |
| Ofwhich:interestexpense | 91,984,604 | 101,970,419 |
| Interestincome | 30,756,704 | 20,024,847 |
| Plus:Otherincome | 99,302,552 | 36,553,804 |
| Investmentincome(“-“forloss) | 16,413,695 | 3,672,330 |
| Creditimpairmentloss(“-“forloss) | -1,492,222 | -2,524,048 |
| Assetimpairmentloss(“-“forloss) | 1,456 | -26,753,082 |
| Incomeondisposalassets(“-“forloss) | 12,745,461 | 137,638 |
| III.Operationalprofit(“-“forloss) | 1,166,043,323 | 1,633,168,381 |
| Plus:non-operationalincome | 15,132,978 | 7,551,798 |
| Less:non-operationalexpenditure | 3,660,070 | 16,461,985 |
| IV.Totalprofit(“-“forloss) | 1,177,516,231 | 1,624,258,194 |
| Less:Incometaxexpenses | 168,925,524 | 255,280,290 |
| V.Netprofit(“-“fornetloss) | 1,008,590,707 | 1,368,977,904 |
| (I)Classificationbybusinesscontinuity | ||
| 1.Netprofitfromcontinuingoperations(“-”fornetloss) | 1,008,590,707 | 1,368,977,904 |
| 2.Netprofitfromdiscontinuedoperations(“-”fornetloss) | ||
| (II)Classificationbyownership | ||
| 1.Equityattributabletoshareholdersofparentcompany | 1,001,174,398 | 1,352,517,465 |
| 2.Minorityshareholdergainsandlosses | 7,416,309 | 16,460,439 |
| VI.Othercomprehensiveincomenetaftertax | 6,167,540 | 1,322,491 |
| Othercomprehensiveincomenetaftertaxattributabletoshareholdersofparentcompany | 6,167,540 | 1,322,491 |
| (I)Othercomprehensiveincomethatwillbereclassifiedintoprofitandloss | ||
| (II)Othercomprehensiveincomereclassifiedtoprofitorloss | 6,167,540 | 1,322,491 |
| 1.Differencesontranslationofforeigncurrencyfinancialstatements | 6,167,540 | 1,322,491 |
| Othercomprehensiveincome,netoftaxattributabletominorityshareholders | ||
| VII.Totalcomprehensiveincome | 1,014,758,247 | 1,370,300,395 |
| Totalcomprehensiveincomeattributabletoshareholdersofparentcompany | 1,007,341,938 | 1,353,839,956 |
| Totalcomprehensiveincomeattributabletominorityshareholders | 7,416,309 | 16,460,439 |
| VIII.Earningspershare: | ||
| (I)Basicearningspershare | 0.33 | 0.44 |
| (II)Dilutedearningspershare | 0.33 | 0.44 |
LegalRepresentative:ChenLinPrincipalinchargeofaccounting:WangWenxinPrincipalofthefinancialdepartment:
WangWenxin
4.IncomeStatementoftheParentCompanyPreparedbyCSGHoldingCo.,Ltd.
Unit:RMB
| Item | Halfyearof2022 | Halfyearof2021 |
| I.Revenue | 230,198,412 | 42,342,857 |
| Less:Businesscost | 15,015,892 | |
| Taxandsurcharge | 1,508,969 | 674,374 |
| Salesexpenses | 1,500,585 | |
| Administrativeexpenses | 158,605,939 | 91,345,095 |
| R&Dexpenses | 616,965 | |
| Financialexpenses | 54,002,083 | 76,018,822 |
| Ofwhich:interestexpense | 84,259,999 | 94,186,512 |
| Interestincome | 28,380,771 | 17,977,849 |
| Plus:Otherincome | 5,677,313 | 2,018,355 |
| Investmentincome(“-“forloss) | 665,374,823 | 718,475,642 |
| Creditimpairmentloss(“-“forloss) | -85,084 | -9,473 |
| Incomeondisposalassets(“-“forloss) | 2,477,876 | 6,893,580 |
| II.Operatingprofit | 673,009,872 | 601,065,705 |
| Add:Non-operatingincome | 29,967 | |
| Less:Non-operatingexpenses | 1,459,583 | 15,026,836 |
| III.Totalprofit(“-“forloss) | 671,550,289 | 586,068,836 |
| Less:Incometaxexpenses | ||
| IV.Netprofit(“-“forloss) | 671,550,289 | 586,068,836 |
| (I)Netprofitforcontinuingoperations(“-“forloss) | 671,550,289 | 586,068,836 |
| (II)Netprofitfromdiscontinuedoperations(“-“forloss) | ||
| VI.Totalcomprehensiveincome | 671,550,289 | 586,068,836 |
| VII.Earningspershare |
LegalRepresentative:ChenLinPrincipalinchargeofaccounting:WangWenxinPrincipalofthefinancialdepartment:
WangWenxin
5.ConsolidatedCashFlowStatementPreparedbyCSGHoldingCo.,Ltd.
Unit:RMB
| Item | Halfyearof2022 | Halfyearof2021 |
| I.Cashflowsfromoperatingactivities | ||
| Cashreceivedfromsalesofgoodsorrenderingofservices | 6,933,269,669 | 7,148,379,280 |
| Refundoftaxesandsurcharges | 209,272,049 | 33,207,751 |
| Cashreceivedrelatingtootheroperatingactivities | 87,236,568 | 178,825,175 |
| Subtotalofcashinflowfromoperatingactivities | 7,229,778,286 | 7,360,412,206 |
| Cashpaidforgoodsandservices | 4,720,858,626 | 3,907,366,000 |
| Cashpaidtoandonbehalfofemployees | 967,549,535 | 888,450,173 |
| Paymentsoftaxesandsurcharges | 434,697,790 | 619,574,024 |
| Cashpaymentsrelatingtootheroperatingactivities | 203,869,214 | 246,776,634 |
| Subtotalofcashoutflowfromoperatingactivities | 6,326,975,165 | 5,662,166,831 |
| Netcashflowsfrom/(usedin)operatingactivities | 902,803,121 | 1,698,245,375 |
| II.Cashflowsfrominvestingactivities | ||
| Cashreceivedfrominvestmentrecovery | 1,988,760,000 | 1,182,000,000 |
| Cashreceivedfrominvestmentincome | 15,609,996 | 3,559,719 |
| Netcashreceivedfromdisposaloffixedassets,intangibleassetsandotherlong-termassets | 13,563,172 | 777,451 |
| Cashreceivedrelatingtootherinvestingactivities | 32,136,351 | |
| Subtotalofcashinflowsfrominvestingactivities | 2,017,933,168 | 1,218,473,521 |
| Cashpaidtoacquirefixedassets,intangibleassetsandotherlong-termassets | 1,632,778,700 | 738,492,345 |
| Cashpaidforinvestment | 2,198,160,000 | 1,644,000,000 |
| Cashpaidrelatingtootherinvestingactivities | 19,138,102 | 6,911,853 |
| Subtotalofcashoutflowsfrominvestingactivities | 3,850,076,802 | 2,389,404,198 |
| Netcashflows(usedin)/frominvestingactivities | -1,832,143,634 | -1,170,930,677 |
| III.Cashflowsfromfinancingactivities | ||
| Cashreceivedfromborrowings | 2,277,155,766 | 605,996,933 |
| Cashreceivedrelatingtootherfinancingactivities | 206,753 | |
| Subtotalofcashinflowsfromfinancingactivities | 2,277,362,519 | 605,996,933 |
| Cashrepaymentsofborrowings | 428,340,521 | 1,099,975,831 |
| Cashpaymentsforinterestexpensesanddistributionofdividendsorprofits | 791,223,957 | 508,082,947 |
| Cashpaymentsrelatingtootherfinancingactivities | 24,165,012 | 390,507 |
| Subtotalofcashoutflowsfromfinancingactivities | 1,243,729,490 | 1,608,449,285 |
| Netcashflows(usedin)/fromfinancingactivities | 1,033,633,029 | -1,002,452,352 |
| IV.Effectofforeignexchangeratechangesoncashandcashequivalents | 3,195,681 | -1,217,711 |
| V.Netincrease/(decrease)incashandcashequivalents | 107,488,197 | -476,355,365 |
| Add:Cashandcashequivalentsatbeginningofcurrentperiod | 2,756,477,572 | 2,124,028,196 |
| VI.Cashandcashequivalentsatendofcurrentperiod | 2,863,965,769 | 1,647,672,831 |
LegalRepresentative:ChenLinPrincipalinchargeofaccounting:WangWenxinPrincipalofthefinancialdepartment:
WangWenxin
6.CashFlowStatementoftheParentCompanyPreparedbyCSGHoldingCo.,Ltd.
Unit:RMB
| Item | Halfyearof2022 | Halfyearof2021 |
| I.Cashflowsfromoperatingactivities | ||
| Cashreceivedfromsalesofgoodsorrenderingofservices | 191,082,575 | |
| Cashreceivedrelatingtootheroperatingactivities | 39,349,241 | 29,031,997 |
| Subtotalofcashinflowfromoperatingactivities | 230,431,816 | 29,031,997 |
| Cashpaidtoandonbehalfofemployees | 179,110,652 | 77,605,388 |
| Paymentsoftaxesandsurcharges | 7,463,566 | 11,908,472 |
| Cashpaidrelatingtootheroperatingactivities | 16,953,909 | 31,121,887 |
| Sub-totalofcashoutflows | 203,528,127 | 120,635,747 |
| Netcashflowsfrom/(usedin)operatingactivities | 26,903,689 | -91,603,750 |
| II.Cashflowsfrominvestingactivities | ||
| Cashreceivedfrominvestmentrecovery | 1,988,760,000 | 1,090,000,000 |
| Cashreceivedfrominvestmentincome | 664,571,124 | 967,450,288 |
| Netcashreceivedfromdisposaloffixedassets,intangibleassetsandotherlong-termassets | 2,477,876 | 101,560 |
| Sub-totalofcashinflows | 2,655,809,000 | 2,057,551,848 |
| Cashpaidtoacquirefixedassets,intangibleassetsandotherlong-termassets | 3,611,833 | 2,669,478 |
| Cashpaidforinvestingactivities | 2,835,444,015 | 1,839,799,000 |
| Sub-totalofcashoutflows | 2,839,055,848 | 1,842,468,478 |
| Netcashflows(usedin)/frominvestingactivities | -183,246,848 | 215,083,370 |
| III.Cashflowsfromfinancingactivities | ||
| Cashreceivedfromborrowings | 900,000,000 | 314,000,000 |
| Cashreceivedrelatingtootherfinancingactivities | 379,666,653 | 143,736,716 |
| Sub-totalofcashinflows | 1,279,666,653 | 457,736,716 |
| Cashrepaymentsofborrowings | 310,000,000 | 857,300,000 |
| Cashpaymentsforinterestexpensesanddistributionofdividendsorprofits | 756,638,060 | 497,947,983 |
| Cashpaymentsrelatingtootherfinancingactivities | 1,017,256 | |
| Subtotalofcashoutflowsfromfinancingactivities | 1,067,655,316 | 1,355,247,983 |
| Netcashflows(usedin)/fromfinancingactivities | 212,011,337 | -897,511,267 |
| IV.Effectofforeignexchangeratechangesoncashandcashequivalents | 1,808,472 | 372,354 |
| V.Netincrease/(decrease)incashandcashequivalents | 57,476,650 | -773,659,293 |
| Add:Cashandcashequivalentsatbeginningofcurrentperiod | 1,960,395,527 | 1,071,200,364 |
| VI.Cashandcashequivalentsatendofcurrentperiod | 2,017,872,177 | 297,541,071 |
LegalRepresentative:ChenLinPrincipalinchargeofaccounting:WangWenxinPrincipalofthefinancialdepartment:
WangWenxin
7.ConsolidatedStatementofChangesinOwners’EquityPreparedbyCSGHoldingCo.,Ltd.Amountofthecurrentperiod
Unit:RMB
| Item | Halfyearof2022 | ||||||||
| Owners’EquityAttributabletotheParentCompany | Minorityshareholders'equity | Totalshareholders'equity | |||||||
| Sharecapital | Capitalsurplus | Othercomprehensiveincome | Specialreserves | Surplusreserve | Undistributedprofits | Subtotal | |||
| I.Balanceattheendofthepreviousyear | 3,070,692,107 | 596,997,085 | 159,200,530 | 7,296,397 | 1,144,887,510 | 6,450,587,417 | 11,429,661,046 | 436,813,189 | 11,866,474,235 |
| II.Balanceatthebeginningofcurrentyear | 3,070,692,107 | 596,997,085 | 159,200,530 | 7,296,397 | 1,144,887,510 | 6,450,587,417 | 11,429,661,046 | 436,813,189 | 11,866,474,235 |
| III.Amountofchangeincurrentterm(“-“fordecrease) | 6,167,540 | -5,443,694 | 387,035,977 | 387,759,823 | 7,416,309 | 395,176,132 | |||
| (I)Totalamountofthecomprehensiveincome | 6,167,540 | 1,001,174,398 | 1,007,341,938 | 7,416,309 | 1,014,758,247 | ||||
| (II)Capitalpaidinandreducedbyowners | |||||||||
| (III)Profitdistribution | -614,138,421 | -614,138,421 | -614,138,421 | ||||||
| 1.Appropriationstoowners(orshareholders) | -614,138,421 | -614,138,421 | -614,138,421 | ||||||
| (IV)Internalcarry-forwardofowners’equity | |||||||||
| (V)Specificreserves | -5,443,694 | -5,443,694 | -5,443,694 | ||||||
| 1.Withdrawalintheperiod | 4,853,948 | 4,853,948 | 4,853,948 | ||||||
| 2.Usedintheperiod | 10,297,642 | 10,297,642 | 10,297,642 | ||||||
| (VI)Others | |||||||||
| IV.Balanceattheendoftheperiod | 3,070,692,107 | 596,997,085 | 165,368,070 | 1,852,703 | 1,144,887,510 | 6,837,623,394 | 11,817,420,869 | 444,229,498 | 12,261,650,367 |
7.ConsolidatedStatementofChangesinOwners’Equity(continued)PreparedbyCSGHoldingCo.,Ltd.Amountofthepreviousperiod
Unit:RMB
| Item | Halfyearof2021 | ||||||||
| Owners’EquityAttributabletotheParentCompany | Minorityshareholders'equity | Totalshareholders'equity | |||||||
| Sharecapital | Capitalsurplus | Othercomprehensiveincome | Specialreserves | Surplusreserve | Undistributedprofits | Subtotal | |||
| I.Balanceattheendofthepreviousyear | 3,070,692,107 | 596,997,085 | 161,816,819 | 10,269,002 | 1,036,948,422 | 5,336,266,412 | 10,212,989,847 | 402,894,039 | 10,615,883,886 |
| II.Balanceatthebeginningofcurrentyear | 3,070,692,107 | 596,997,085 | 161,816,819 | 10,269,002 | 1,036,948,422 | 5,336,266,412 | 10,212,989,847 | 402,894,039 | 10,615,883,886 |
| III.Amountofchangeincurrentterm(“-“fordecrease) | 1,322,491 | -1,166,410 | 1,045,448,254 | 1,045,604,335 | 16,460,439 | 1,062,064,774 | |||
| (I)Totalamountofthecomprehensiveincome | 1,322,491 | 1,352,517,465 | 1,353,839,956 | 16,460,439 | 1,370,300,395 | ||||
| (II)Capitalpaidinandreducedbyowners | |||||||||
| (III)Profitdistribution | -307,069,211 | -307,069,211 | -307,069,211 | ||||||
| 1.Appropriationstoowners(orshareholders) | -307,069,211 | -307,069,211 | -307,069,211 | ||||||
| (IV)Internalcarry-forwardofowners’equity | |||||||||
| (V)Specificreserves | -1,166,410 | -1,166,410 | -1,166,410 | ||||||
| 1.Withdrawalintheperiod | |||||||||
| 2.Usedintheperiod | 1,166,410 | 1,166,410 | 1,166,410 | ||||||
| (VI)Others | |||||||||
| IV.Balanceattheendoftheperiod | 3,070,692,107 | 596,997,085 | 163,139,310 | 9,102,592 | 1,036,948,422 | 6,381,714,666 | 11,258,594,182 | 419,354,478 | 11,677,948,660 |
LegalRepresentative:ChenLinPrincipalinchargeofaccounting:WangWenxinPrincipalofthefinancialdepartment:WangWenxin
8.Statementofchangesinowner'sequityoftheparentcompanyPreparedbyCSGHoldingCo.,Ltd.Amountofthecurrentperiod
Unit:RMB
| Item | Halfyearof2022 | ||||
| Sharecapital | Capitalsurplus | Surplusreserve | Undistributedprofits | Totalshareholders'equity | |
| I.Balanceattheendofthepreviousyear | 3,070,692,107 | 741,824,399 | 1,159,432,870 | 1,765,173,270 | 6,737,122,646 |
| II.Balanceatthebeginningofcurrentyear | 3,070,692,107 | 741,824,399 | 1,159,432,870 | 1,765,173,270 | 6,737,122,646 |
| III.Amountofchangeincurrentterm(“-“fordecrease) | 57,411,868 | 57,411,868 | |||
| (I)Totalamountofthecomprehensiveincome | 671,550,289 | 671,550,289 | |||
| (II)Capitalpaidinandreducedbyowners | |||||
| (III)Profitdistribution | -614,138,421 | -614,138,421 | |||
| 1.Appropriationstoowners(orshareholders) | -614,138,421 | -614,138,421 | |||
| (IV)Internalcarry-forwardofowners’equity | |||||
| (V)Specialreserves | |||||
| (VI)Others | |||||
| IV.Balanceattheendoftheperiod | 3,070,692,107 | 741,824,399 | 1,159,432,870 | 1,822,585,138 | 6,794,534,514 |
8.Statementofchangesinowner'sequityoftheparentcompany(continued)PreparedbyCSGHoldingCo.,Ltd.Amountofthepreviousperiod
Unit:RMB
| Item | Halfyearof2021 | ||||
| Sharecapital | Capitalsurplus | Surplusreserve | Undistributedprofits | Totalshareholders'equity | |
| I.Balanceattheendofthepreviousyear | 3,070,692,107 | 741,824,399 | 1,051,493,782 | 1,100,790,694 | 5,964,800,982 |
| II.Balanceatthebeginningofcurrentyear | 3,070,692,107 | 741,824,399 | 1,051,493,782 | 1,100,790,694 | 5,964,800,982 |
| III.Amountofchangeincurrentterm(“-“fordecrease) | 278,999,625 | 278,999,625 | |||
| (I)Totalamountofthecomprehensiveincome | 586,068,836 | 586,068,836 | |||
| (II)Capitalpaidinandreducedbyowners | |||||
| (III)Profitdistribution | -307,069,211 | -307,069,211 | |||
| 1.Appropriationstoowners(orshareholders) | -307,069,211 | -307,069,211 | |||
| (IV)Internalcarry-forwardofowners’equity | |||||
| (V)Specialreserves | |||||
| (VI)Others | |||||
| IV.Balanceattheendoftheperiod | 3,070,692,107 | 741,824,399 | 1,051,493,782 | 1,379,790,319 | 6,243,800,607 |
LegalRepresentative:ChenLinPrincipalinchargeofaccounting:WangWenxinPrincipalofthefinancialdepartment:WangWenxin
III.BasicInformationoftheCompanyCSGHoldingCoLtd(the“Company”)wasincorporatedinSeptember1984,knownasChinaSouthGlassCompany,asajointventureenterprisebyHongKongChinaMerchantsShippingCo.,LTD(香港招商局轮船股份有限公司),ShenzhenBuildingMaterialsIndustryCorporation(深圳建筑材料工业集团公司),ChinaNorthIndustriesCorporation(中国北方工业深圳公司)andGuangdongInternationalTrustandInvestmentCorporation(广东国际信托投资公司).TheCompanywasregisteredinShenzhen,GuangdongProvinceofthePeople'sRepublicofChinaanditsheadquartersislocatedinShenzhen,GuangdongProvinceofthePeople'sRepublicofChina.TheCompanyissuedRMB-denominatedordinaryshares(“A-share”)andforeignshares(“B-share”)publiclyinOctober1991andJanuary1992respectively,andwaslistedonShenzhenStockExchangeonFebruary1992.AsatJune30,2022,theregisteredcapitalwasRMB3,070,692,107,withnominalvalueofRMB1pershare.TheCompanyanditssubsidiaries(collectivelyreferredtoasthe“Group”)aremainlyengagedinthemanufactureandsalesofflatglass,specializedglass,engineeringglass,energysavingglass,siliconrelatedmaterials,polysiliconandsolarcomponentsandelectronic-gradedisplaydeviceglassandtheconstructionandoperationofphotovoltaicplantetc.ThefinancialstatementswereauthorizedforissuebytheBoardofDirectorsonAugust29,2022.DetailsonthemajorsubsidiariesincludedintheconsolidatedscopeincurrentyearwerestatedintheNote.IV.Basisofthepreparationoffinancialstatements
1.Basisofpreparation
ThefinancialstatementsarepreparedinaccordancewiththeAccountingStandardsforBusinessEnterprises-BasicStandard,andthespecificaccountingstandardsandotherrelevantregulationsissuedbytheMinistryofFinanceon15February2006andinsubsequentperiods(hereaftercollectivelyreferredtoas“theAccountingStandardforBusinessEnterprises”or“CAS”),andInformationDisclosureRuleNo.15forCompanieswithPublicTradedSecurities-FinancialReportingGeneralProvisionissuedbyChinaSecurityRegulatoryCommission.
2.Goingconcern
Thisfinancialreportispreparedonthebasisofgoingconcern.
V.Summaryofsignificantaccountingpoliciesandaccountingestimates
TheGroupdeterminesitsspecificaccountingpoliciesandaccountingestimatestomanufacturingandoperationfeature.Itmainlyreflectedinexpectedcreditimpairmentlossesofreceivableswasmeasured,inventorycostingmethod,Depreciationoffixedassetsandamortizationofintangibleassets,criteriafordeterminingcapitaliseddevelopmentexpenditure,andtimingforrevenuerecognition.RefertothenotesfordetailsofthekeyjudgementsadoptedbytheGroupinapplyingimportantaccountingpolicies.
1.StatementofcompliancewiththeAccountingStandardsforBusinessEnterprisesThefinancialstatementsoftheCompanyforthefirsthalfyearof2022trulyandcompletelypresentthefinancialpositionasofJune30,2022andtheoperatingresults,cashflowsandotherinformationforthefirsthalfyearof2022oftheGroupandtheCompanyincompliancewiththeAccountingStandardsforBusinessEnterprises.
2.Accountingperiod
TheCompany’saccountingyearstartson1Januaryandendson31December.
3.OperatingcycleTheCompany’soperatingcyclestartson1Januaryandendson31December.
4.RecordingcurrencyTherecordingcurrencyisRenminbi(RMB).
5.Businesscombinations(a)BusinesscombinationsinvolvingentitiesundercommoncontrolTheconsiderationpaidandnetassetsobtainedbytheabsorbingpartyinabusinesscombinationaremeasuredatbookvalue.Ifthemergedpartywasacquiredbytheultimatecontrollingpartyfromathirdpartyinthepreviousyear,theassetsandliabilitiesofthemergedparty(includingthegoodwillformedbytheultimatecontrollingparty’sacquisitionofthemergedparty).Thedifferencebetweenbookvalueofthenetassetsobtainedfromthecombinationandbookvalueoftheconsiderationpaidforthecombinationistreatedasanadjustmenttocapitalsurplus(sharepremium).Ifthecapitalsurplus(sharepremium)isnotsufficienttoabsorbthedifference,theremainingbalanceisadjustedagainstretainedearnings.Costsdirectlyattributabletothecombinationareincludedinprofitorlossintheperiodinwhichtheyareincurred.Transactioncostsassociatedwiththeissueofequityordebtsecuritiesforthebusinesscombinationareincludedintheinitiallyrecognisedamountsoftheequityordebtsecurities.
(b)BusinesscombinationsinvolvingenterprisesnotundercommoncontrolThecostofcombinationandidentifiablenetassetsobtainedbytheacquirerinabusinesscombinationaremeasuredatfairvalueattheacquisitiondate.Wherethecostofthecombinationexceedstheacquirer’sinterestinthefairvalueoftheacquiree’sidentifiablenetassets,thedifferenceisrecognisedasgoodwill;wherethecostofcombinationislowerthantheacquirer’sinterestinthefairvalueoftheacquiree’sidentifiablenetassets,thedifferenceisrecognisedinprofitorlossforthecurrentperiod.Costsdirectlyattributabletothecombinationareincludedinprofitorlossintheperiodinwhichtheyareincurred.Transactioncostsassociatedwiththeissueofequityordebtsecuritiesforthebusinesscombinationareincludedintheinitiallyrecognisedamountsoftheequityordebtsecurities.
6.Preparationmethodofconsolidatedfinancialstatements
TheconsolidatedfinancialstatementscomprisethefinancialstatementsoftheCompanyandallofitssubsidiaries.SubsidiariesareconsolidatedfromthedateonwhichtheGroupobtainscontrolandarede-consolidatedfromthedatethatsuchcontrolceases.Forasubsidiarythatisacquiredinabusinesscombinationinvolvingenterprisesundercommoncontrol,itisincludedintheconsolidatedfinancialstatementsfromthedatewhenit,togetherwiththeCompany,comesundercommoncontroloftheultimatecontrollingparty.Theportionofthenetprofitsrealisedbeforethecombinationdateispresentedseparatelyintheconsolidatedincomestatement.Inpreparingtheconsolidatedfinancialstatements,wheretheaccountingpoliciesandtheaccountingperiodsoftheCompanyandsubsidiariesareinconsistent,thefinancialstatementsofthesubsidiariesareadjustedinaccordancewiththeaccountingpoliciesandtheaccountingperiodoftheCompany.Forsubsidiariesacquiredfrombusinesscombinationsinvolvingenterprisesnotundercommoncontrol,theindividualfinancialstatementsofthesubsidiariesareadjustedbasedonthefairvalueoftheidentifiablenetassetsattheacquisitiondate.Allsignificantintra-groupbalances,transactionsandunrealisedprofitsareeliminatedintheconsolidatedfinancialstatements.Theportionofsubsidiaries’equityandtheportionofasubsidiaries’netprofitsandlossesandcomprehensiveincomesfortheperiodnotattributabletoCompanyarerecognisedasminorityinterestsandpresentedseparatelyintheconsolidatedfinancialstatementsunderequity,netprofitsandtotalcomprehensiveincomerespectively.UnrealisedprofitsandlossesresultingfromthesalesofassetsbytheCompanytoitssubsidiariesarefullyeliminatedagainstnetprofitattributabletoshareholdersoftheparentcompany.UnrealisedprofitsandlossesresultingfromthesalesofassetsbyasubsidiarytotheCompanyareeliminatedandallocatedbetweennetprofitattributabletoshareholdersoftheparentcompanyandnon-controllinginterestsinaccordancewiththeallocationproportionoftheparentcompanyinthesubsidiary.Unrealisedprofitsandlossesresultingfromthesalesofassetsbyonesubsidiarytoanotherareeliminatedandallocatedbetweennetprofitattributabletoshareholdersoftheparentcompanyandnon-controllinginterestsinaccordancewiththeallocationproportionoftheparentinthesubsidiary.Afterthecontroloverthesubsidiaryhasbeengained,wholeorpartialminorityequitiesofthesubsidiaryownedbyminorityshareholdersareacquiredfromthesubsidiary’sminorityshareholders.Intheconsolidatedfinancialstatements,thesubsidiary'sassetsandliabilitiesarereflectedwithamountbasedoncontinuouscalculationstartingfromtheacquisitiondateorconsolidationdate.Capitalsurplusisadjustedaccordingtothedifferencebetweennewlyincreasedlong-termequityinvestmentarisingfromacquisitionofminorityequityandtheshareofnetassetscalculatedbasedoncurrentshareholdingratiothattheparentcompanyisentitledto.
Theshareissubjecttocontinuouscalculationstartingfromtheacquisitiondateorconsolidationdate.Ifthecapitalsurplus(capitalpremiumorsharecapitalpremium)isnotsufficienttoabsorbthedifference,theremainingbalanceisadjustedagainstretainedearnings.IftheaccountingtreatmentofatransactionwhichconsiderstheGroupasanaccountingentityisdifferentfromthatconsiderstheCompanyoritssubsidiariesasanaccountingentity,itisadjustedfromtheperspectiveoftheGroup.
7.CriteriafordeterminingcashandcashequivalentsCashandcashequivalentsrefertocashinhand,depositsthatcanbeusedforpaymentatanytime,andinvestmentswithshortholdingperiods,strongliquidity,easyconversionintoknownamountsofcash,andlowriskofvaluechanges.
8.Translatingofforeigncurrencyoperationsandforeigncurrencyreportform(a)ForeigncurrencytransactionForeigncurrencytransactionsaretranslatedintoRMBusingtheexchangeratesprevailingatthedatesofthetransactions.Onthebalancesheetdate,monetaryitemsdenominatedinforeigncurrenciesaretranslatedintoRMBusingthespotexchangeratesonthebalancesheetdate.Exchangedifferencesarisingfromthesetranslationsarerecognisedinprofitorlossforthecurrentperiod,exceptforthoseattributabletoforeigncurrencyborrowingsthathavebeentakenoutspecificallyfortheacquisitionorconstructionofqualifyingassets,whicharecapitalisedaspartofthecostofthoseassets.Non-monetaryitemsdenominatedinforeigncurrenciesthataremeasuredathistoricalcostsaretranslatedatthebalancesheetdateusingthespotexchangeratesatthedateofthetransactions.Theeffectofexchangeratechangesoncashispresentedseparatelyinthecashflowstatement.(b)ConversionofforeigncurrencyfinancialstatementsTheassetandliabilityitemsinthebalancesheetsforoverseasoperationsaretranslatedatthespotexchangeratesonthebalancesheetdate.Amongtheshareholders’equityitems,theitemsotherthan“undistributedprofits”aretranslatedatthespotexchangeratesofthetransactiondates.Theincomeandexpenseitemsintheincomestatementsofoverseasoperationsaretranslatedatthespotexchangeratesofthetransactiondates.Thedifferencesarisingfromtheabovetranslationarepresentedseparatelyintheshareholders’equity.Thecashflowsofoverseasoperationsaretranslatedatthespotexchangeratesonthedatesofthecashflows.Theeffectofexchangeratechangesoncashispresentedseparatelyinthecashflowstatement.
9.FinancialinstrumentAfinancialinstrumentisanycontractthatgivesrisetoafinancialassetofoneentityandafinancialliabilityorequityinstrumentofanotherentity.AfinancialassetorafinancialliabilityisrecognisedwhentheGroupbecomesapartytothecontractualprovisionsoftheinstrument.(a)Financialassets(i)ClassificationandmeasurementBasedonthebusinessmodelformanagingthefinancialassetsandthecontractualcashflowcharacteristicsofthefinancialassetsfinancialassetsareclassifiedas:(1)financialassetsatamortisedcost;(2)financialassetsatfairvaluethroughothercomprehensiveincome;(3)financialassetsatfairvaluethroughprofitorloss.Thefinancialassetsaremeasuredatfairvalueatinitialrecognition.Relatedtransactioncoststhatareattributabletotheacquisitionofthefinancialassetsareincludedintheinitiallyrecognisedamounts,exceptforthefinancialassetsatfairvaluethroughprofitorloss,therelatedtransactioncostsofwhicharerecogniseddirectlyinprofitorlossforthecurrentperiod.Accountsreceivableornotesreceivablearisingfromsalesofproductsorrenderingofservices(excludingorwithoutregardtosignificantfinancingcomponents)areinitiallyrecognisedattheconsiderationthatisentitledtobechargedbytheGroupasexpected.DebtinstrumentsThedebtinstrumentsheldbytheGrouprefertotheinstrumentsthatmeetthedefinitionoffinancialliabilitiesfromtheperspectiveoftheissuer,andaremeasuredinthefollowingways.
Measuredatamortisedcost
TheobjectiveoftheGroup'sbusinessmodelistoholdthefinancialassetstocollectthecontractualcashflows,andthecontractualcashflowcharacteristicsareconsistentwithabasiclendingarrangement,whichgivesriseonspecifieddatestothecontractualcashflowsthataresolelypaymentsofprincipalandinterestontheprincipalamountoutstanding.Theinterestincomeofsuchfinancialassetsisrecognisedusingtheeffectiveinterestmethod.Suchfinancialassetsmainlycomprisecashatbankandonhandplacementswithandloanstobanksandotherfinancialinstitutionsmeasuredatamortisedcost,accountsreceivable,factoringreceivables,loansandadvances,otherreceivablesandlong-termreceivables.Long-termreceivablesthatareduewithinoneyear(inclusive)asfromthebalancesheetdateareincludedinthecurrentportionofnon-currentassets.Financialassetsatfairvaluethroughothercomprehensiveincome:
TheobjectiveoftheGroup'sbusinessmodelistoholdthefinancialassetstocollectthecontractualcashflowsandsellingastargetandthecontractualcashflowcharacteristicsareconsistentwithabasiclendingarrangement.Suchfinancialassetsaremeasuredatfairvalueandtheirchangesareincludedinothercomprehensiveincome,butimpairmentlossesorgains,exchangegainsandlosses,andinterestincomecalculatedbytheeffectiveinterestratemethodareallincludedinthecurrentprofitandloss.Suchfinancialassetsmainlycomprise-receivablefinancingandotherfinancialdebtinvestment.Otherfinancialdebtinvestmentthatareduewithinoneyear(inclusive)asfromthebalancesheetdateareincludedinthecurrentportionasothercurrentassets.Measuredatfairvaluethroughprofitorloss:
DebtinstrumentsheldbytheGroupthatarenotdividedintothoseatamortisedcost,orthosemeasuredatfairvaluethroughothercomprehensiveincome,aremeasuredatfairvaluethroughprofitorlossandincludedinfinancialassetsheldfortrading.Atinitialrecognition,theGroupdesignatesaportionoffinancialassetsasatfairvaluethroughprofitorlosstoeliminateorsignificantlyreduceanaccountingmismatch.Financialassetsthatareduewithinoneyear(inclusive)asfromthebalancesheetdateandareexpectedtobeheldoveroneyearareincludedinothernon-currentfinancialassets.EquityinstrumentsInvestmentsinequityinstruments,overwhichtheGrouphasnocontrol,jointcontrolorsignificantinfluence,aremeasuredatfairvaluethroughprofitorlossunderfinancialassetsheldfortrading;investmentsinequityinstrumentsexpectedtobeheldoveroneyearasfromthebalancesheetdateareincludedinothernon-currentfinancialassets.Inaddition,aportionofcertaininvestmentsinequityinstrumentsnotheldfortradingaredesignatedasfinancialassetsatfairvaluethroughothercomprehensive-incomeunderotherinvestmentsinequityinstruments.Therelevantdividendincomeofsuchfinancialassetsisrecognisedinprofitorlossforthecurrentperiod.(ii)ImpairmentTheGroupconfirmsthelossprovisionbasedonexpectedcreditlossesforfinancialassetsmeasuredatamortisedcost,debtinstrumentinvestmentsatfairvaluethroughothercomprehensiveincome,andfinancialguaranteecontracts.basedonexpectedcreditlosses(ECL)andrecognizesallowancesforlosses.Givingconsiderationtoreasonableandsupportableinformationonpastevents,currentconditionsandforecastsoffutureeconomicconditions,aswellasthedefaultriskweight,theexpectedcreditlosswasconfirmed.Oneachbalancesheetdate,theexpectedcreditlossesoffinancialinstrumentsatdifferentstagesaremeasuredrespectively.12-monthECLprovisionisrecognisedforfinancialinstrumentsinStage1thathavenothadasignificantincreaseincreditrisksinceinitialrecognition;lifetimeECLprovisionisrecognisedforfinancialinstrumentsinStage2thathavehadasignificantincreaseincreditriskyetwithoutcreditimpairmentsinceinitialrecognition;andlifetimeECLprovisionisrecognisedforfinancialinstrumentsinStage3thathavehadcreditimpairmentsinceinitialrecognition.Forthefinancialinstrumentswithlowercreditriskonthebalancesheetdate,theGroupassumesthereisnosignificantincreaseincreditrisksinceinitialrecognitionandrecognisesthe12-monthECLprovision.ForthefinancialinstrumentsinStage1,Stage2andwithlowercreditrisk,theGroupcalculatestheinterestincomebyapplyingtheeffectiveinterestratetothegrosscarryingamount(beforedeductionoftheimpairmentprovision).Forthefinancialinstrumentin-Stage3,theinterestincomeiscalculatedbyapplyingtheeffectiveinterestratetotheamortisedcost(afterdeductionoftheimpairmentprovisionfromthegrosscarryingamount).Fornotesandaccountsreceivablesandfactoringreceivablesarisingfromdailybusinessactivitiessuchassellingcommoditiesandprovidinglaborservices,theGrouprecognisesthelifetimeexpectedcreditlossprovisionregardlessofwhetherthereexistsasignificantfinancingcomponent.
Incasetheexpectedcreditlossesofanindividuallyassessedfinancialassetcannotbeevaluatedwithreasonablecost,theGroupdividesthereceivablesintocertaingroupingsbasedoncreditriskcharacteristics,andcalculatestheexpectedcreditlossesforthegroupings.Basisfordeterminedgroupingsandmethodforprovisionareasfollows:
| NotesreceivablesPortfolio1 | Bankacceptancenotes | Expectedcreditlossmethod |
| NotesreceivablesPortfolio2 | Tradeacceptancenotes | Expectedcreditlossmethod |
| AccountsreceivablesPortfolio1 | Receivablesnon-relatedthirdparty | Expectedcreditlossmethod |
| AccountsreceivablesPortfolio2 | Receivablesrelatedparty | Expectedcreditlossmethod |
| OtherreceivablesPortfolio1 | Receivablesnon-relatedthirdparty | Expectedcreditlossmethod |
| OtherreceivablesPortfolio2 | Receivablesrelatedparty | Expectedcreditlossmethod |
Fornotesandaccountsreceivablesandreceivablefinancingarisingfromdailybusinessactivitiessuchassellingcommoditiesandprovidinglaborservices,theGroupreferstohistoricalcreditlossexperience,combinedwithcurrentconditionsandpredictionsoffutureeconomicconditions.Inadditiontonotesreceivable,factoringreceivablesandotherreceivablesclassifiedasacombination,theGroupreferstohistoricalcreditlossexperience,combinescurrentconditionsandpredictionsoffutureeconomicconditions,andpassesdefaultriskexposureandfuture12Theexpectedcreditlossratewithinamonthortheentiredurationiscalculatedastheexpectedcreditloss.TheGrouprecognisesthelossprovisionmadeorreversedintoprofitorlossforthecurrentperiod.Fordebtinstrumentsthatareheldatfairvalueandwhosechangesareincludedinothercomprehensiveincome,theGroupadjustsothercomprehensiveincomewhileaccountingforimpairmentlossesorgainsinthecurrentprofitorloss.(iii)DerecognitionAfinancialassetisderecognisedwhenanyofthebelowcriteriaismet:(1)thecontractualrightstoreceivethecashflowsfromthefinancialassetexpire;(2)thefinancialassethasbeentransferredandtheGrouptransferssubstantiallyalltherisksandrewardsofownershipofthefinancialassettothetransferee;or(3)thefinancialassethasbeentransferredandtheGrouphasnotretainedcontrolofthefinancialasset,althoughtheGroupneithertransfersnorretainssubstantiallyalltherisksandrewardsofownershipofthefinancialasset.(b)FinancialliabilitiesFinancialliabilitiesareclassifiedasfinancialliabilitiesatamortisedcostandfinancialliabilitiesatfairvaluethroughprofitorlossatinitialrecognition.TheGroup'sfinancialliabilitiesaremainlycomprisefinancialliabilitiesatamortisedcost,includingbillspayable,accountspayable,andotherpayables.Thistypeoffinancialliabilityisinitiallymeasuredatitsfairvalueafterdeductingtransactioncosts,andissubsequentlymeasuredusingtheactualinterestratemethod.Ifthematurityislessthanoneyear(includingoneyear),itislistedascurrentliabilities;Thosewithamaturityoflessthanoneyear(includingoneyear)arelistedascurrentliabilities;thosewithamaturityofmorethanoneyearbutduewithinoneyear(includingoneyear)fromthebalancesheetdatearelistedasnon-currentliabilitiesduewithinoneyear.Therestarelistedasnon-currentliabilities.Afinancialliabilityisderecognisedorpartlyderecognisedwhentheunderlyingpresentobligationisdischargedorpartlydischarged.Thedifferencebetweenthecarryingamountofthederecognisedpartofthefinancialliabilityandtheconsiderationpaidisrecognisedinprofitorlossforthecurrentperiod.(c)DeterminationoffairvalueoffinancialinstrumentsThefairvalueofafinancialinstrumentthatistradedinanactivemarketisdeterminedatthequotedpriceintheactivemarket.Thefairvalueofafinancialinstrumentthatisnottradedinanactivemarketisdeterminedbyusingavaluationtechnique.Invaluation,theGroupadoptsvaluationtechniquesapplicableinthecurrentsituationandsupportedbyadequateavailabledataandotherinformation,selectsinputswiththesamecharacteristicsasthoseofassetsorliabilitiesconsideredinrelevanttransactionsofassetsorliabilitiesbymarketparticipants,andgivesprioritytotheuseofrelevantobservableinputs.Whenrelevantobservableinputsarenotavailableorfeasible,unobservableinputsareadopted.
10.Inventories(a)ClassificationInventoriesrefertomanufacturingsector,includingrawmaterials,workinprogress,finishedgoodsandturnovermaterials,andaremeasuredatthelowerofcostandnetrealisablevalue.(b)IssuedInventorycostingmethodCostisdeterminedusingtheweightedaveragemethod.Thecostoffinishedgoodsandworkinprogresscompriserawmaterials,directlabourandsystematicallyallocatedproductionoverheadbasedonthenormalproductioncapacity.(c)AmortisationmethodsoflowvalueconsumablesandpackagingmaterialsTurnovermaterialsincludelowvalueconsumablesandpackagingmaterials,whichareexpensedwhenissued.(d)ThedeterminationofnetrealisablevalueandthemethodofprovisionfordeclineinthevalueofinventoriesProvisionfordeclineinthevalueofinventoriesisdeterminedattheexcessamountofbookvaluesoftheinventoriesovertheirnetrealisablevalue.Netrealisablevalueisdeterminedbasedontheestimatedsellingpriceintheordinarycourseofbusiness,lesstheestimatedcoststocompletionandestimatedcostsnecessarytomakethesaleandrelatedtaxes.(e)TheGroupadoptstheperpetualinventorysystem.
11.AssetsclassifiedasheldforsaleAnon-currentassetoradisposalgroupisclassifiedasheldforsalewhenallofthefollowingconditionsaresatisfied:(1)thenon-currentassetorthedisposalgroupisavailableforimmediatesaleinitspresentconditionsubjecttotermsthataretraditionallyandcustomaryforsales;(2)theGrouphasmadearesolutionandobtainedappropriateapprovalfordisposalofthenon-currentassetorthedisposalgroup,andthetransferistobecompletedwithinoneyear.Non-currentassets(exceptforfinancialassets,investmentpropertiesatfairvalueanddeferredtaxassets)thatmeettherecognitioncriteriaforheldforsalearerecognizedattheamountequaltothelowerofthefairvaluelesscoststosellandbookvalue.Thedifferencebetweenfairvaluelesscoststosellandcarryingamount,shouldbepresentedasimpairmentloss.Suchnon-currentassetsandassetsincludedindisposalgroupsasclassifiedasheldforsaleareaccountedforascurrentassets;whileliabilitiesincludedindisposalgroupsclassifiedasheldforsaleareaccountedforascurrentliabilities,andarepresentedseparatelyinthebalancesheet.AdiscontinuedoperationisacomponentoftheGroupthateitherhasbeendisposedoforisclassifiedasheldforsale,andisseparatelyidentifiableoperationallyandforfinancialreportingpurposes,andsatisfiesoneofthefollowingconditions:(1)representsaseparatemajorlineofbusinessorgeographicalareaofoperations;(2)ispartofasinglecoordinatedplantodisposeofaseparatemajorlineofbusinessorgeographicalareaofoperations;and(3)isasubsidiaryacquiredexclusivelywithaviewtoresale.Thediscontinuedoperationprofitsonincomestatementpresentationhaveincludedtheprofitsandlossofoperationanddisposal.
12.Long-termequityinvestmentsLong-termequityinvestmentscomprisetheCompany’slong-termequityinvestmentsinitssubsidiaries,andtheGroup’slong-termequityinvestmentsinitsassociates.SubsidiariesaretheinvesteesoverwhichtheCompanyisabletoexercisecontrol.AssociatesaretheinvesteesthattheGrouphassignificantinfluenceontheirfinancialandoperatingpolicies.InvestmentsinsubsidiariesaremeasuredusingthecostmethodintheCompany’sfinancialstatements,andadjustedbyusingtheequitymethodwhenpreparingtheconsolidatedfinancialstatements.Investmentsinassociatesareaccountedforusingtheequitymethod.(a)Initialrecognitionofinvestmentcost
Forlong-termequityinvestmentsformedinbusinesscombination:whenobtainedfrombusinesscombinationsinvolvingentitiesundercommoncontrol,thelong-termequityinvestmentisstatedatcarryingamountofequityforthecombinedpartiesatthetimeofmerger;whenthelong-termequityinvestmentobtainedfrombusinesscombinationsinvolvingentitiesnotundercommoncontrol,theinvestmentismeasuredatcombinationcost.Forlong-termequityinvestmentsnotformedinbusinesscombination:theonepaidbycashisinitiallymeasuredatactualpurchaseprice;thelong-terminvestmentobtainedbyissuingequitysecuritiesisstatedatfairvalueofequitysecuritiesasinitialinvestmentcost..(b)SubsequentmeasurementandrecognitionofrelatedprofitorlossForlong-termequityinvestmentsaccountedforusingthecostmethod,theyaremeasuredattheinitialinvestmentcosts,andcashdividendsorprofitdistributiondeclaredbytheinvesteesarerecognisedasinvestmentincomeinprofitorloss.Forlong-termequityinvestmentsaccountedforusingtheequitymethod,wheretheinitialinvestmentcostofalong-termequityinvestmentexceedstheGroup’sshareofthefairvalueoftheinvestee’sidentifiablenetassetsattheacquisitiondate,thelong-termequityinvestmentismeasuredattheinitialinvestmentcost;wheretheinitialinvestmentcostislessthantheGroup’sshareofthefairvalueoftheinvestee’sidentifiablenetassetsattheacquisitiondate,thedifferenceisincludedinprofitorlossandthecostofthelong-termequityinvestmentisadjustedupwardsaccordingly.Undertheequitymethod,theGrouprecognisestheinvestmentincomeaccordingtoitsshareofnetprofitorlossoftheinvestee.TheGroupdiscontinuesrecognisingitsshareofthenetlossesofaninvesteeafterbookvaluesofthelong-termequityinvestmenttogetherwithanylong-termintereststhatinsubstanceformpartoftheinvestor’snetinvestmentintheinvesteearereducedtozero.However,iftheGrouphasobligationsforadditionallossesandthecriteriawithrespecttorecognitionofprovisionsundertheaccountingstandardsoncontingenciesaresatisfied,theGroupcontinuesrecognisingtheinvestmentlossesandtheprovisions.Forchangesinowners’equityoftheinvesteeotherthanthosearisingfromitsnetprofitorloss,itsproportionateshareisdirectlyrecordedintocapitalsurplus,providedthattheproportionoftheshareholdingoftheGroupintheinvesteeremainsunchanged.BookvalueoftheinvestmentisreducedbytheGroup’sshareoftheprofitdistributionorcashdividendsdeclaredbyaninvestee.Theunrealisedprofitsorlossesarisingfromtheintra-grouptransactionsamongsttheGroupanditsinvesteesareeliminatedinproportiontotheGroup’sequityinterestintheinvestees,andthenbasedonwhichtheinvestmentgainsorlossesarerecognised.AnylossesresultingfromtransactionsbetweentheGroupanditsinvesteesattributabletoassetimpairmentlossesarenoteliminated.(c)Basisfordeterminingexistenceofcontrol,jointlycontrolorsignificantinfluenceoverinvesteesTheterm"control"referstothepowerintheinvestees,toobtainvariablereturnsbyparticipatingintherelatedbusinessactivitiesoftheinvestees,andtheabilitytoaffectthereturnsbyexercisingitspowerovertheinvestees.Theterm"significantinfluence"referstothepowertoparticipateintheformulationoffinancialandoperatingpoliciesofanenterprise,butnotthepowertocontrol,orjointlycontrol,theformulationofsuchpolicieswithotherparties.(d)Impairmentoflong-termequityinvestmentsBookvalueoflong-termequityinvestmentsinsubsidiariesandassociatesisreducedtotherecoverableamountwhentherecoverableamountislessthanbookvalue.
13.InvestmentpropertyInvestmentpropertyincludesleasedlanduserights,landuserightsheldandprovidedfortotransferafterappreciationandleasedbuildingandconstruction.Investmentpropertiesareinitiallymeasuredatacquisitioncost.ThecostofoutsourcingInvestmentpropertyincludesthepurchaseprice,relevanttaxesandotherexpendituresthatcanbedirectlyattributabletotheasset;thecostofself-builtInvestmentpropertyisdeterminedbytheconstructionoftheasset.Thecompositionofthenecessaryexpendituresincurredbeforetheusablestate.Investmentpropertyadoptsthefairvaluemodelforsubsequentmeasurementwithoutdepreciationoramortization.Onthebalancesheetdate,thebookvalueoftheinvestmentpropertiesareinitiallymeasuredatacquisitioncostisadjustedbasedonthefairvalueoftheinvestmentpropertiesareinitiallymeasuredatacquisitioncost.Thedifferencebetweenthefairvalueandtheoriginalbookvalue
willbecalculatedintothecurrentprofitandloss.WhentheuseofanInvestmentpropertyischangedtoself-use,theinvestmentpropertyisconvertedintofixedassetsorintangibleassetsfromthedateofchange,andthebookvalueandfairvalueofthefixedassetsandintangibleassetsaredeterminedbasedonthefairvalueoftheinvestmentpropertyontheconversiondate.Thedifferencewiththeoriginalbookvalueoftheinvestmentpropertyisincludedinthecurrentprofitandloss.Whenthepurposeofself-userealestateischangedtoearningrentorcapitalappreciation,fromthedateofchange,thefixedassetsorintangibleassetsareconvertedintoinvestmentpropertiesareinitiallymeasuredatacquisitioncost,andthefairvalueonthedayofconversionisusedasthebookvalueoftheinvestmentpropertiesareinitiallymeasuredatacquisitioncost,andthefairvalueonthedayofconversionIfthevalueislessthantheoriginalbookvalueoffixedassetsandintangibleassets,thedifferenceisincludedinthecurrentprofitandloss.Ifthefairvalueonthedayofconversionisgreaterthantheoriginalbookvalueoffixedassetsandintangibleassets,thedifferenceisincludedinothercomprehensiveincome.Whenaninvestmentpropertyisdisposedoforpermanentlywithdrawnfromuseanditisexpectedthatnoeconomicbenefitscanbeobtainedfromitsdisposal,theconfirmationoftheinvestmentrealestateshallbeterminated.Thedisposalincomefromthesale,transfer,scrappingordestructionofinvestmentrealestateshalldeductitsbookvalueandrelevanttaxesandshallbeincludedinthecurrentprofitsandlosses.Ifthereisanamountincludedinothercomprehensiveincomeontheoriginalconversiondate,itwillalsobecarriedforwardandincludedinthecurrentprofitandloss.
14.Fixedassets
(1)RecognitionconditionFixedassetscomprisebuildings,machineryandequipment,motorvehiclesandothers.FixedassetsarerecognizedwhenitisprobablethattherelatedeconomicbenefitswillprobablyflowtotheGroupandthecostscanbereliablymeasured.FixedassetspurchasedorconstructedbytheGroupareinitiallymeasuredatcostattheacquisitiondate.SubsequentexpendituresincurredforafixedassetareincludedinthecostofthefixedassetwhenitisprobablethattheassociatedeconomicbenefitswillflowtotheGroupandtherelatedcostcanbereliablymeasured.Bookvalueofthereplacedpartisderecognized.Alltheothersubsequentexpendituresarerecognizedinprofitorlossintheperiodinwhichtheyareincurred.
(2)DepreciationmethodsFixedassetsaredepreciatedusingthestraight-linemethodtoallocatethecostoftheassetstotheirestimatedresidualvaluesovertheirestimatedusefullives.Forthefixedassetsthathavebeenprovidedforimpairmentloss,therelateddepreciationchargeisprospectivelydeterminedbasedupontheadjustedcarryingamountsovertheirremainingusefullives.Theestimatedusefullives,theestimatednetresidualvaluesexpressedasapercentageofcostandtheannualdepreciationratesoffixedassetsareasfollows:
| Item | Depreciationmethod | Estimatedusefullives | Estimatednetresidualvalue | Annualdepreciationrate |
| Building | Straight-linemethod | 20to35years | 5% | 2.71%to4.75% |
| Machineryandequipment | Straight-linemethod | 8to20years | 5% | 4.75%to11.88% |
| Motorvehiclesandothers | Straight-linemethod | 5to8years | 0% | 12.50%to20.00% |
Theestimatedusefullife,theestimatednetresidualvalueofafixedassetandthedepreciationmethodappliedtotheassetarereviewed,andadjustedasappropriateateachyear-end.
(3)Bookvalueofafixedassetisreducedtotherecoverableamountwhentherecoverableamountisbelowbookvalue.
(4)DisposalAfixedassetisderecognizedondisposalorwhennofutureeconomicbenefitsareexpectedfromitsuseordisposal.Theamountofproceedsfromdisposalsonsale,transfer,retirementordamageofafixedassetnetofitscarryingamountandrelatedtaxesandexpensesisrecognizedinprofitorlossforthecurrentperiod.
15.Constructioninprogress
Constructioninprogressisrecordedatactualcost.Actualcostcomprisesconstructioncost,installationcost,borrowingcostseligibleforcapitalisedconditionandnecessaryexpendituresincurredforitsintendeduse.Actualcostalsoincludesnetoftrialproductioncostandtrialproductionincomebeforeconstructioninprogressisputintoproduction.Constructioninprogressistransferredtofixedassetswhentheassetsarereadyfortheirintendeduse,anddepreciationbeginsfromthefollowingmonth.Bookvalueofconstructioninprogressisreducedtotherecoverableamountwhentherecoverableamountisbelowbookvalue.
16.Borrowingcosts
Theborrowingcostsincurredbythegroupthataredirectlyattributabletotheacquisitionandconstructionofanassetthatneedsasubstantiallylongperiodoftimeforitsintendedusecommencetobecapitalisedandrecordedaspartofthecostoftheassetwhenexpendituresfortheassetandborrowingcostshavebeenincurred,andtheactivitiesrelatingtotheacquisitionandconstructionthatarenecessarytopreparetheassetforitsintendedusehavecommenced.Thecapitalisationofborrowingcostsceaseswhentheassetunderacquisitionorconstructionbecomesreadyforitsintendeduseandtheborrowingcostsincurredthereafterarerecognizedinprofitorlossforthecurrentperiod.Capitalisationofborrowingcostsissuspendedduringperiodsinwhichtheacquisitionorconstructionofafixedassetisinterruptedabnormallyandtheinterruptionlastsformorethan3months,untiltheacquisitionorconstructionisresumed.Forthespecificborrowingsobtainedfortheacquisitionorconstructionofanassetqualifyingforcapitalisation,theamountofborrowingcostseligibleforcapitalisationisdeterminedbytheamountofinterestexpensesactuallyincurredinthecurrentperiodofspecialborrowingdeductinganyinterestincomeearnedfromdepositingtheunusedspecificborrowingsinthebanksoranyinvestmentincomearisingonthetemporaryinvestmentofthoseborrowingsduringthecapitalisationperiod.Forthegeneralborrowingsobtainedfortheacquisitionorconstructionofanassetqualifyingforcapitalisation,theamountofborrowingcostseligibleforcapitalisationisdeterminedbyapplyingtheweightedaverageeffectiveinterestrateofgeneralborrowings,totheweightedaverageoftheexcessamountofcumulativeexpendituresontheassetovertheamountofspecificborrowings.Theeffectiveinterestrateistherateatwhichtheestimatedfuturecashflowsduringtheperiodofexpecteddurationoftheborrowingsorapplicableshorterperiodarediscountedtotheinitialamountoftheborrowings.
17.Intangibleassets
(1)Valuationmethod,usefullifeandimpairmenttestIntangibleassets,mainlyincludinglanduserights,patentsandproprietarytechnologies,exploitationrightsandothers,aremeasuredatcost.(a)LanduserightsLanduserightsareamortisedonthestraight-linebasisovertheirapproveduseperiodof30to70years.Iftheacquisitioncostsofthelanduserightsandthebuildingslocatedthereoncannotbereasonablyallocatedbetweenthelanduserightsandthebuildings,alloftheacquisitioncostsarerecognizedasfixedassets.(b)PatentsandproprietarytechnologiesPatentsandproprietarytechnologiesareamortisedonastraight-linebasisovertheestimateduselife.(c)Exploitationrights
Exploitationrightsareamortisedonastraight-linebasisoverpermittedexploitationperiodsontheexploitationcertificate.(d)PeriodicalreviewofusefullifeandamortizationmethodForanintangibleassetwithafiniteusefullife,reviewofitsusefullifeandamortizationmethodisperformedateachyear-end,withadjustmentmadeasappropriate.(e)ImpairmentofintangibleassetsBookvalueofintangibleassetsisreducedtotherecoverableamountwhentherecoverableamountisbelowbookvalue.
(2)AccountingpolicyforinternalresearchanddevelopmentexpenditureTheexpenditureonaninternalresearchanddevelopmentprojectisclassifiedintoexpenditureontheresearchphaseandexpenditureonthedevelopmentphasebasedonitsnatureandwhetherthereismaterialuncertaintythattheresearchanddevelopmentactivitiescanformanintangibleassetatendoftheproject.Expenditureontheresearchphaserelatedtoplannedsurvey,evaluationandselectionforresearchonmanufacturingtechniqueisrecognizedinprofitorlossintheperiodinwhichitisincurred.Priortomassproduction,expenditureonthedevelopmentphaserelatedtothedesignandtestingphaseinregardstothefinalapplicationofmanufacturingtechniqueiscapitalisedonlyifallofthefollowingconditionsaresatisfied:
?thedevelopmentofmanufacturingtechniquehasbeenfullydemonstratedbytechnicalteam;?managementhasapprovedthebudgetforthedevelopmentofmanufacturingtechnique;?thereareresearchandanalysisofpre-marketresearchexplainingthatproductsmanufacturedwithsuchtechniquearecapableofmarketing;?Thereissufficienttechnicalandcapitaltosupportthedevelopmentofmanufacturingtechniqueandsubsequentmassproduction;andtheexpenditureonmanufacturingtechniquedevelopmentcanbereliablygathered.Otherdevelopmentexpendituresthatdonotmeettheconditionsabovearerecognizedinprofitorlossintheperiodinwhichtheyareincurred.Developmentcostspreviouslyrecognizedasexpensesarenotrecognizedasanassetinasubsequentperiod.Capitalisedexpenditureonthedevelopmentphaseispresentedasdevelopmentcostsinthebalancesheetandtransferredtointangibleassetsatthedatethattheassetisreadyforitsintendeduse.
18.Impairmentoflong-termassetsInvestmentproperties,fixedassets,constructioninprogress,intangibleassetswithfiniteusefullivesandlong-termequityinvestmentsinjointventuresandassociatesaretestedforimpairmentifthereisanyindicationthattheassetsmaybeimpairedatthebalancesheetdate;intangibleassetsnotreadyfortheirintendedusearetestedatleastannuallyforimpairment,irrespectiveofwhetherthereisanyindicationthattheymaybeimpaired.Iftheresultoftheimpairmenttestindicatesthattherecoverableamountofanassetislessthanitscarryingamount,aprovisionforimpairmentandanimpairmentlossarerecognizedfortheamountbywhichtheasset’scarryingamountexceedsitsrecoverableamount.Therecoverableamountisthehigherofanasset’sfairvaluelesscoststosellandthepresentvalueofthefuturecashflowsexpectedtobederivedfromtheasset.Provisionforassetimpairmentisdeterminedandrecognizedontheindividualassetbasis.Ifitisnotpossibletoestimatetherecoverableamountofanindividualasset,therecoverableamountofagroupofassetstowhichtheassetbelongsisdetermined.Agroupofassetsisthesmallestgroupofassetsthatisabletogenerateindependentcashinflows.Goodwillthatisseparatelypresentedinthefinancialstatementsistestedatleastannuallyforimpairment,irrespectiveofwhetherthereisanyindicationthatitmaybeimpaired.Inconductingthetest,bookvalueofgoodwillisallocatedtotherelatedassetgroupsorgroupsofassetgroupswhichareexpectedtobenefitfromthesynergiesofthebusinesscombination.Iftheresultofthetestindicatesthattherecoverableamountofanassetgrouporgroupofassetgroups,includingtheallocatedgoodwill,islowerthanitscarryingamount,thecorrespondingimpairmentlossisrecognized.Theimpairmentlossisfirstdeductedfrombookvalueofgoodwillthatisallocatedtotheassetgrouporgroupofassetgroups,andthendeductedfrombookvaluesofotherassetswithintheassetgroupsorgroupsofassetgroupsinproportiontobookvaluesofassetsotherthangoodwill.Oncetheaboveassetimpairmentlossisrecognized,itwillnotbereversedforthevaluerecoveredinthesubsequentperiods.
19.Long-termprepaidexpensesLong-termprepaidexpensesincludetheexpendituresthathavebeenincurredbutshouldberecognisedasexpensesovermorethanoneyearinthecurrentandsubsequentperiods.Long-termprepaidexpensesareamortisedonthestraight-linebasisovertheexpectedbeneficialperiodandarepresentedatactualexpenditurenetofaccumulatedamortisation.
20.EmployeebenefitsEmployeebenefitsincludeshort-termemployeebenefits,post-employmentbenefits,terminationbenefitsandotherlong-termemployeebenefitsprovidedinvariousformsofconsiderationinexchangeforservicerenderedbyemployeesorcompensationsfortheterminationofemploymentrelationship.
(1)Accountingtreatmentmethodofshort-termemployeebenefitsShort-termemployeebenefitsincludewagesorsalaries,bonuses,allowancesandsubsidies,staffwelfare,medicalcare,workinjuryinsurance,maternityinsurance,housingfunds,labourunionfunds,employeeeducationfundsandpaidshort-termleave,etc.Theemployeebenefitliabilitiesarerecognizedintheaccountingperiodinwhichtheserviceisrenderedbytheemployees,withacorrespondingchargetotheprofitorlossforthecurrentperiodorthecostofrelevantassets.Employeebenefitswhicharenon-monetarybenefitsshallbemeasuredatfairvalue.
(2)Accountingtreatmentmethodofpost-employmentbenefitsTheGroupclassifiespost-employmentbenefitplansaseitherdefinedcontributionplansordefinedbenefitplans.Definedcontributionplansarepost-employmentbenefitplansunderwhichtheGrouppaysfixedcontributionsintoaseparatefundandwillhavenoobligationtopayfurthercontributions;anddefinedbenefitplansarepost-employmentbenefitplansotherthandefinedcontributionplans.Duringthereportingperiod,theGroup'spost-employmentbenefitsmainlyincludebasicpensionsandunemploymentinsurance,bothofwhichbelongtothedefinedcontributionplans.
(3)BasicpensionsTheGroup’semployeesparticipateinthebasicpensionplansetupandadministeredbylocalauthoritiesofMinistryofHumanResourceandSocialSecurity.Monthlypaymentsofpremiumsonthebasicpensionsarecalculatedaccordingtoprescribedbasesandpercentagebytherelevantlocalauthorities.Whenemployeesretire,locallabourandsocialsecurityinstitutionshaveadutytopaythebasicpensioninsurancetothem.Theamountsbasedontheabovecalculationsarerecognizedasliabilitiesintheaccountingperiodinwhichtheservicehasbeenrenderedbytheemployees,withacorrespondingchargetotheprofitorlossforthecurrentperiodorthecostofrelevantassets.
(4)AccountingtreatmentofdismissalbenefitsTheGroupprovidescompensationforterminatingtheemploymentrelationshipwithemployeesbeforetheendoftheemploymentcontractsorasanoffertoencourageemployeestoacceptvoluntaryredundancybeforetheendoftheemploymentcontracts.TheGrouprecognizesaliabilityarisingfromcompensationforterminationoftheemploymentrelationshipwithemployees,withacorrespondingchargetoprofitorlossattheearlierofthefollowingdates:1)whentheGroupcannotunilaterallywithdrawtheofferofterminationbenefitsbecauseofanemploymentterminationplanoracurtailmentproposal;2)whentheGrouprecognizescostsorexpensesrelatedtotherestructuringthatinvolvesthepaymentofterminationbenefits.Thedismissalbenefitsexpectedtobepaidwithinoneyearsincethebalancesheetdateareclassifiedascurrentliabilities.
21.EstimatedliabilitiesCurrentobligationsarisingfromenterpriserestructuring,productqualityassurance,onerouscontracts,etc.arerecognizedasestimatedliabilitieswhentheperformanceofsuchobligationsislikelytoleadtotheoutflowofeconomicbenefitsandtheamountcanbemeasuredreliably.Aprovisionisinitiallymeasuredatthebestestimateoftheexpenditurerequiredtosettletherelatedpresentobligation.Factorssurroundingacontingency,suchastherisks,uncertaintiesandthetimevalueofmoney,aretakenintoaccountasawholeinreachingthebestestimateofaprovision.Wheretheeffectofthetimevalueofmoneyismaterial,thebestestimateisdeterminedbydiscountingtherelatedfuturecashoutflows.Theincreaseinthediscountedamountoftheprovisionarisingfrompassageoftimeisrecognizedasinterestexpense.Bookvalueofprovisionisreviewedateachbalancesheetdateandadjustedtoreflectthecurrentbestestimate.Theprovisionsexpectedtobepaidwithinoneyearsincethebalancesheetdateareclassifiedascurrentliabilities.
22.Share-basedpaymentsShare-basedpaymentsaredividedintoequity-settledandcash-settledpayments.Theterm"equity-settledshare-basedpayment"referstoatransactioninwhichanenterprisegrantssharesorotherequityinstrumentsasaconsiderationinreturnforservices.Equity-settledshare-basedpaymentTheGroup‘sstockoptionstockoptionplanistheequity-settledshare-basedpaymentinexchangeofemployees'servicesandismeasuredatthefairvalueoftheequityinstrumentsatgrantdate.Theequityinstrumentsareexercisableafterservicesinvestingperiodarecompletedorspecifiedperformanceconditionsaremet.Inthevestingperiod,theservicesobtainedincurrentperiodareincludedinrelevantcostandexpensesatthefairvalueoftheequityinstrumentsatgrantdatebasedonthebestestimateofthenumberofexercisableequityinstruments,andcapitalsurplusisincreasedaccordingly.TheGroupmakesthebestestimateofthenumberofvestingequityinstrumentsbasedonthelatestobtainedchangesinthenumberofvestedemployees,whethertherequiredperformanceconditionsaremet,andotherfollow-upinformation.Ifthesubsequentinformationindicatesthenumberofexercisableequityinstrumentsdiffersfromthepreviousestimate,anadjustmentismadeand,ontheexercisedate,theestimateisrevisedtoequalthenumberofactualvestedequityinstruments.Intheperiodatwhichperformanceconditionsandtermofservicearemet,therelevantcostandexpensesofequity-settledpaymentshouldberecognized,andcapitalsurplusisincreasedaccordingly.Beforetheexercisedate,theaccruingamountsofequity-settledpaymentsonbalancesheetdatereflectthepartofexpiredwaitingperiodandoptimalestimationforthenumberoftheCompanyfinalvestedequityinstruments.Ifthenon-marketconditionsandtermofservicearenotmetsothatshare-basedpaymentfailtoexercise,thecostsandexpensesonthisportionshouldnotberecognized.Iftheshare-basedpaymentagreementsetsoutthemarketconditionsandtermofnon-vesting,aslongasperformanceconditionsandtermofservicearemet,itisshouldberegardasexercisableright,nomatterthemarketconditionsandnon-vestingconditionsaremeetornot.Ifthetermsofequity-settledpaymentaremodified,atleasttheserviceisconfirmedinaccordancewiththeunmodifiedterms.Inaddition,theincreaseofthefairvalueoftheauthorizedequityinstruments,orthebeneficialchangestotheemployeesonthemodificationdate,theincreaseofserviceareconfirmed.Iftheequity-settledpaymentiscancelled,thecancellationdateshallbedeemedasanexpeditedexercise,andtheunconfirmedamountshallbeconfirmedimmediately.Iftheemployeeorotherpartyisabletochoosetomeetthenon-vestingconditionsbutnotsatisfiedinthewaitingperiod,equity-settledpaymentshouldbecancelled.Butifanewequityinstrumentisgranted,andthenewequityinstrumentisconfirmtoreplacetheoldequityinstrumentwhichiscanceledintheauthorizationdateofthenewequityinstrument,thenewequityinstrumentshouldbedisposedbyusingthesameconditionsandtermsoftheoldequityinstrumentformodifications.
23.Revenue
TheGrouprecognizesrevenueattheconsiderationthattheGroupisentitledtochargeasexpectedwhentheGrouphasfulfilledtheperformanceobligationsinthecontract,thatis,thecustomerobtainscontroloverrelevantgoodsorservices.(a)SalesofgoodsTheGroupmainlysellsflatandengineeringglass,productsrelatedtosolarenergy,andelectronicglassanddisplays.Fordomesticsales,theGroupdeliverstheproductstoacertainplacespecifiedinthecontract.Whenthebuyertakesoverthegoods,theGrouprecognizesrevenue.Forexportsales,theGrouprecognizestherevenuewhenitfinishedclearinggoodsforexportanddeliveringthegoodsonboardthevessel,orwhenthegoodsaredeliveredtoacertainplacespecifiedinthecontract.ThecreditperiodgrantedbytheGrouptocustomersisdeterminedbasedonthecustomer'screditriskcharacteristics,consistentwithindustrypractices,andthereisnomajorfinancingcomponent.TheGroup’sobligationtotransfergoodstocustomersforconsiderationreceivedorreceivablefromcustomersislistedascontractliabilities.Revenueispresentedasthenetamountafterdeductingsalesdiscountsandsalesreturns.(b)RenderingofservicesTheGroupprovidesexternalconsulting,loading,unloading,transportationandprocessinglaborservices,andrecognizesrevenuewithinaperiodoftimebasedontheprogressofthecompletedlabor.Theprogressofthecompletedlaborisdeterminedaccordingtotheproportionofthecostincurredtotheestimatedtotalcost.Onthebalancesheetdate,theGroupre-estimatestheprogressofcompletedlaborservicessothatitcanreflectchangesincontractperformance.WhentheGrouprecognizesrevenuebasedontheperformanceprogressofthecompletedlaborservices,theportionforwhichtheGrouphasobtainedtheunconditionalrighttoreceivepaymentsisrecognizedasaccountsreceivable,andtheremainingportionisrecognizedascontractassets,andtheCompanymeasuresthelossreserveofaccountsreceivableandcontractassets.Accordingtotheexpectedcreditloss;IfthecontractpricereceivedorreceivablebytheGroupexceedsthecompletedprogress,theexcessisrecognizedascontractliabilities.TheGrouppresentsthecontractassetsandcontractliabilitiesunderthesamecontractasanet
amount.
24.GovernmentgrantsGovernmentgrantsaretransfersofmonetaryornon-monetaryassetsfromthegovernmenttotheGroupatnilconsideration,includingtaxrefundandfinancialsubsidies,etc.AgovernmentgrantisrecognizedwhenthereisareasonableassurancethatthegrantswillbereceivedandtheGroupwillcomplywithallattachedconditions.Monetarygovernmentgrantsaremeasuredattheamountsreceivedorreceivable.Non-monetarygovernmentgrantsaremeasuredatfairvalue,ifthefairvaluecannotbereliablyobtained,itismeasuredatnominalamount.Thegovernmentgrantsrelatedtoassetsrefertogovernmentgrantobtainedbyenterprisesandusedforpurchaseandconstructionoflong-termassetsorformationoflong-termassetinotherways.Thegovernmentgrantsrelatedtoincomerefertograntsotherthanthoserelatedtoassets.Forgovernmentgrantsrelatedtoincome,wherethegrantisacompensationforrelatedexpensesorlossestobeincurredbytheGroupinthesubsequentperiods,thegrantisrecognizedasdeferredincome,andincludedinprofitorlossovertheperiodsinwhichtherelatedcostsarerecognized;wherethegrantisacompensationforrelatedexpensesorlossesalreadyincurredbytheGroup,thegrantisrecognizedimmediatelyinprofitorlossforthecurrentperiod.Thecompanyusethesamemethodofpresentationforsimilargovernmentgrants.Theordinaryactivitygovernmentgrantsshouldbecountedintooperatingprofits;thegovernmentgrantswhichnotbelongtoordinaryactivitiesshouldbecountedintonon-operatingincome.
25.Deferredtaxassets/deferredtaxliabilitiesDeferredtaxassetsanddeferredtaxliabilitiesarecalculatedandrecognizedbasedonthedifferencesarisingbetweenthetaxbasesofassetsandliabilitiesandtheircarryingamounts(temporarydifferences).Deferredtaxassetisrecognizedforthedeductiblelossesthatcanbecarriedforwardtosubsequentyearsfordeductionofthetaxableprofitinaccordancewiththetaxlaws.Nodeferredtaxliabilityisrecognizedforatemporarydifferencearisingfromtheinitialrecognitionofgoodwill.Nodeferredtaxassetordeferredtaxliabilityisrecognizedforthetemporarydifferencesresultingfromtheinitialrecognitionofassetsorliabilitiesduetoatransactionotherthanabusinesscombination,whichaffectsneitheraccountingprofitnortaxableprofit(ordeductibleloss).Atthebalancesheetdate,deferredtaxassetsanddeferredtaxliabilitiesaremeasuredatthetaxratesthatareexpectedtoapplytotheperiodwhentheassetisrealizedortheliabilityissettled.Deferredtaxassetsareonlyrecognizedfordeductibletemporarydifferences,deductiblelossesandtaxcreditstotheextentthatitisprobablethattaxableprofitwillbeavailableinthefutureagainstwhichthedeductibletemporarydifferences,deductiblelossesandtaxcreditscanbeutilized.Deferredtaxliabilitiesarerecognizedfortemporarydifferencesarisingfrominvestmentsinsubsidiariesandassociates,exceptwheretheGroupisabletocontrolthetimingofreversalofthetemporarydifference,anditisprobablethatthetemporarydifferencewillnotreverseintheforeseeablefuture.Whenitisprobablethatthetemporarydifferencesarisingfrominvestmentsinsubsidiariesandassociateswillbereversedintheforeseeablefutureandthatthetaxableprofitwillbeavailableinthefutureagainstwhichthetemporarydifferencescanbeutilized,thecorrespondingdeferredtaxassetsarerecognized.Deferredincometaxassetsanddeferredincometaxliabilitiesthatmeetthefollowingconditionsatthesametimearelistedasthenetamountafteroffset:
ThedeferredtaxesarerelatedtothesametaxpayerwithintheGroupandthesametaxationauthority;ThattaxpayerwithintheGrouphasalegallyenforceablerighttooffsetcurrenttaxassetsagainstcurrenttaxliabilities.
26.Leases
Aleasingisacontractinwhichthelessorcedestherighttouseanassettothelesseeforacertainperiodoftimeinreturnforconsideration.(a)TheGroupactsasthelesseeTheCompanyrecognizestheright-of-useassetsonthecommencementdateoftheleasetermandrecognizestheleaseliabilitiesatthepresentvalueoftheoutstandingleasepayments.Theleasepaymentsincludefixedpayments,aswellaspaymentswherethereis
reasonablecertaintythatapurchaseoptionwillbeexercisedoraleaseoptionwillbeterminated.Thevariablerentdeterminedbasedonacertainpercentageofsalesisnotincludedintheleasepayment,andisincludedinthecurrentprofitandlosswhenitactuallyoccurs.TheGroupwilllistthenon-liabilitieswithinoneyearthatleaseliabilitieswillbepaidoneyear.fromthebalancesheetdate.Onthecommencementdate,theCompanyshallinitiallymeasuretheright-of-useassetatcost.Thecostoftheright-of-useassetshallcomprisetheamountoftheinitialmeasurementoftheleaseliabilityandanyleasepaymentsmadeatorbeforethecommencementdate,andanyinitialdirectcostsincurredbythelesseeetc,lessanyleaseincentivesreceived,IfownershipoftheleasedassettransferstotheGroupattheendoftheleaseterm,depreciationiscalculatedusingtheestimatedusefullifeoftheasset.Otherwise,theright-of-useassetsaredepreciatedovertheshorteroftheleasetermandtheestimatedusefullivesoftheassets.Wherethecarryingamountofanassetoracashgeneratingunitexceedsitsrecoverableamount,theassetorcashgeneratingunitisconsideredimpairedandiswrittendowntoitsrecoverableamount.Ashort-termleaseisaleasethat,atthecommencementdate,hasaleasetermof12monthsorless,andhasalow-valueassetleases.TheGroupdoesnotrecognizetheright-of-useassetsandleaseliabilities.TheGrouprecognizesleasepaymentsonshort-termleasesandleasesoflow-valueassetsintherelatedassetcostsorprofitorlossonastraight-linebasisovertheleaseterm.TheGroupaccountsforaleasemodificationasaseparateleaseifboth:(1)themodificationincreasesthescopeoftheleasebyaddingtherighttouseoneormoreunderlyingassets;(2)theconsiderationfortheleaseincreasesbyanamountcommensuratewiththestand-alonepricefortheincreaseinscopeandanyappropriateadjustmentstothatstand-alonepricetoreflectthecircumstancesoftheparticularcontract.Foraleasemodificationthatisnotaccountedforasaseparatelease,attheeffectivedateoftheleasemodificationtheGroupremeasurestheleaseliabilitybydiscountingtherevisedleasepaymentsusingareviseddiscountrate.Decreasingthecarryingamountoftheright-of-useassettoreflectthepartialorfullterminationoftheleaseforleasemodificationsthatdecreasethescopeofthelease.TheGrouprecognizesinprofitorlossanygainorlossrelatingtothepartialorfullterminationofthelease.Otherleasemodificationswillremeasureleaseliabilities,andthegroupwillmakeacorrespondingadjustmenttotheright-of-useassetbookvalue.(b)TheGroupactsasthelessorAleasethattransferssubstantiallyalltherisksandrewardsassociatedwiththeownershipoftheleasedassetisafinancelease.Otherleasesareoperatingleases.(i)OperatingleaseWhentheCompanyoperatesleasedbuildings,machineryandequipment,andmeansoftransport,therentalincomefromoperatingleasesshallberecognizedinaccordancewiththestraight-linemethodduringtheleaseterm.TheCompanywillincludevariablerentdeterminedbasedonapercentageofsalesinrentalincomewhenitactuallyincurs.Foranymodificationtoanoperatinglease,theGrouptreatsitasanewleasefromtheeffectivedateofthemodification,andthereceivedorreceivableleasepaymentsrelatedtotheleasepriortothemodificationaretreatedasleasepaymentsofthenewlease.(ii)FinanceleaseOnthebeginningdateoftheleaseterm,theCompanyrecognizesthefinanceleasereceivablesforfinanceleasesandderecognizesrelatedassets.TheCompanypresentsthefinanceleasereceivablesaslong-termreceivables,andthefinanceleasereceivablesreceivedwithinoneyear(includingoneyear)fromthebalancesheetdatearepresentedasnon-currentassetsduewithinoneyear.
27.OtherimportantaccountingpoliciesandaccountingestimatesTheGroupcontinuallyEstimatesthecriticalaccountingestimatesandkeyassumptionsappliedbasedonhistoricalexperienceandotherfactors,includingexpectationsoffutureeventsthatarebelievedtobereasonable.Thecriticalaccountingestimatesandkeyassumptionsthathaveasignificantriskofpossiblycausingamaterialadjustmenttobookvaluesofassetsandliabilitieswithinthenextaccountingyearareoutlinedbelow:
(a)IncometaxTheGroupissubjecttoIncometaxinnumerousjurisdictions.Therearesometransactionsandeventsforwhichtheultimatetaxdeterminationisuncertainduringtheordinarycourseofbusiness.SignificantjudgementisrequiredfromtheGroupindeterminingtheprovisionforIncometaxineachofthesejurisdictions.Wherethefinalidentifiedoutcomeofthesetaxmattersisdifferentfromtheinitially-recordedamount,suchdifferencewillimpacttheincometaxexpensesanddeferredincometaxintheperiodinwhichsuchdeterminationisfinallymade.(b)DeferredincometaxEstimatesondeferredtaxassetsarebasedonestimatesonamountoftaxableincomeandapplicabletaxrateforeveryyear.RealisationofdeferredincometaxissubjecttosufficienttaxableincomethatispossibletobeobtainedbytheGroupinthefuture.Changeofthefuturetaxrateaswellasthereversedtimeoftemporarydifferencemighthaveeffectsontaxexpense(income)andthebalanceofdeferredtaxassetsorliabilities.Thoseestimatesmayalsocausesignificantadjustmentondeferredtax.(c)Impairmentoflong-termassets(excludinggoodwill)Long-termassetsatthebalancesheetdateshouldbesubjecttoimpairmenttestingifthereareanyindicationsofimpairment.Managementdetermineswhetherthelong-termassetsimpairedornotbyevaluatingandanalysingfollowingaspects:(1)whethertheeventaffectingassetsimpairmentoccurs;(2)whethertheexpectedobtainablepresentvalueoffuturecashflowsislowerthantheasset’scarryingamountbycontinuallyusingtheassetsordisposal;and(3)whethertheassumptionsusedinexpectedobtainablepresentvalueoffuturecashflowsareappropriate.Variousassumptions,includingthediscountrateandgrowthrateappliedinthemethodofpresentvalueoffuturecashflow,arerequiredinevaluatingtherecoverableamountofassets.Iftheseassumptionscannotbeconformed,therecoverableamountshouldbemodified,andthelong-termassetsmaybeimpairedaccordingly.(d)TheusefullifeoffixedassetsManagementestimatestheusefullifeoffixedassets,basedonhistoricalexperiencesonusingfixedassetsthathavesimilarpropertiesandfunctions.Whentherearedifferencesbetweenactuallyusefullifeandpreviouslyestimation,managementwilladjustestimationtousefullifeoffixedassets.Thefixedassetswouldbewrittenofforwrittendownwhenfixedassetsbeendisposedorbecameredundant.Thus,theestimatedresultbasedonexistingexperiencemaybedifferentfromtheactualresultofthenextaccountingperiod,whichmaycausemajoradjustmenttobookvalueoffixedassetsonbalancesheet.(e)GoodwillimpairmentGoodwillimpairmentreviewsareundertakenannuallyormorefrequentlyifeventsorchangesincircumstancesindicateapotentialimpairment.Forthepurposeofimpairmenttesting,goodwillacquiredinabusinesscombinationisallocatedtoeachofthecash-generatingunits(“CGUs”),orgroupsofCGUs,andfuturecashflowfromeachCGUorCGUsisforcastedanddiscountedwithappropriatediscountrate.
28.Significantaccountingpoliciesandchangesinaccountingestimates
（
）Importantaccountingpolicychanges
√Applicable□Notapplicable
| Contentsandreasonsforchangesinaccountingpolicy | Approvalprocedure | Remark |
| OnDecember31,2021,theMinistryofFinancepromulgatedthe"NoticeonPrintingandIssuing"(CaiKuai[2021]No.35)(hereinafterreferredtoas"StandardInterpretationNo.15"),regardingthecompany'sfixedassetsbeforetheyreachtheintendedusestateorTheaccountingtreatmentofexternalsalesofproductsorby-productsproducedintheR&Dprocessandthejudgmentonloss-makingcontractshavebeenclarified.StandardInterpretationNo.15"Accountingtreatmentofexternalsalesofproductsorby-productsproducedbyenterprisesbeforetheirfixedassetsreachtheirintendedusablestateorin | TheninthmeetingoftheninthboardofdirectorsandtheninthmeetingoftheninthboardofsupervisorsheldonApril28,2022reviewedandapprovedthecompany'sdisclosureofaccountingstatementsinaccordancewiththerequirementsofStandardInterpretationNo.15fromJanuary1,2022. | TheadoptionofInterpretationNo.15didnothaveasignificantimpactonthefinancialpositionandoperatingresultsoftheCompany. |
（2）Importantaccountingestimatechanges
□Applicable√Notapplicable
29.Others
（
）SafetyproductioncostsAccordingtorelevantregulationsoftheMinistryofFinanceandNationalAdministrationofWorkSafety,asubsidiaryoftheGroupwhichisengagedinproducingandsellingpolysiliconappropriatessafetyproductioncostsonfollowingbasis:
(a)4%forrevenuebelowRMB10million(inclusive)oftheyear;(b)2%fortherevenuebetweenRMB10milliontoRMB100million(inclusive)oftheyear;(c)0.5%fortherevenuebetweenRMB100milliontoRMB1billion(inclusive)oftheyear;(d)0.2%fortherevenueaboveRMB1billionoftheyear.Thesafetyproductioncostsaremainlyusedfortheoverhaul,renewalandmaintenanceofsafetyfacilities.Thesafetyproductioncostsarechargedtocostsofrelatedproductsorprofitorlosswhenappropriated,andsafetyproductioncostsinequityaccountarecreditedcorrespondingly.Whenusingthespecialreserve,iftheexpendituresareexpensesinnature,theexpensesincurredareoffsetagainstthespecialreservedirectlywhenincurred.Iftheexpendituresarecapitalexpenditures,whenprojectsarecompletedandtransferredtofixedassets,thespecialreserveshouldbeoffsetagainstthecostoffixedassets,andacorrespondingaccumulateddepreciationarerecognized.Thefixedassetsarenolongerbedepreciatedinfuture.（
）SegmentinformationTheGroupidentifiesoperatingsegmentsbasedontheinternalorganisationstructure,managementrequirementsandinternalreportingsystem,anddisclosessegmentinformationofreportablesegmentswhichisdeterminedonthebasisofoperatingsegments.AnoperatingsegmentisacomponentoftheGroupthatsatisfiesallofthefollowingconditions:(a)thecomponentisabletoearnrevenueandincurexpensesfromitsordinaryactivities;(b)whoseoperatingresultsareregularlyreviewedbytheGroup’smanagementtomakedecisionsaboutresourcestobeallocatedtothesegmentandtoassessitsperformance,and(c)forwhichtheinformationonfinancialposition,operatingresultsandcashflowsisavailabletotheGroup.Iftwoormoreoperatingsegmentshavesimilareconomiccharacteristicsandsatisfycertainconditions,theyareaggregatedintoonesingleoperatingsegment.VI.Taxation
1.Themaincategoriesandratesoftaxes
theprocessofresearchanddevelopment"and"Judgmentononerouscontracts"fromJanuary1,2022tobeimplemented.Category
| Category | Taxablebasis | Taxrate |
| Enterpriseincometax | Taxableincome | 0%-25% |
| Value-addedtax(“VAT”) | Taxablevalue-addedamount(TaxpayableiscalculatedusingthetaxablesalesamountmultipliedbytheapplicabletaxratelessdeductibleVATinputofthecurrentperiod) | 1%-13% |
| Citymaintenanceandconstructiontax | VATpaid | 1%-7% |
| Educationalsurcharge | VATpaid | 5% |
2.TaxincentivesTianjinCSGEnergy-SavingGlassCo.,Ltd.(“TianjinEnergyConservation”)passedreviewonahighandnewtechenterprisein2021andobtainedtheCertificateofHighandNewTechEnterprise,theperiodofvalidityisthreeyears.Itappliesto15%taxrateforthreeyearssince2021.DongguanCSGArchitecturalGlassCo.,Ltd.(“DongguanCSG”)passedreviewonahighandnewtechenterprisein2019andobtainedtheCertificateofHighandNewTechEnterprise,theperiodofvalidityisthreeyears.Itappliesto15%taxrateforthreeyearssince2019.Inthe2022high-techenterprisequalificationreview,theincometaxrateof15%willbetemporarilyappliedduringthereportingperiod.WujiangCSGEastChinaArchitecturalGlassCo.,Ltd.(“WujiangCSGEngineering”)passedreviewonahighandnewtechenterprisein2020andobtainedtheCertificateofHighandNewTechEnterprise,theperiodofvalidityisthreeyears.Itappliesto15%taxrateforthreeyearssince2020.DongguanCSGSolarGlassCo.,Ltd.(“DongguanCSGSolar”)passedreviewonahighandnewtechenterprisein2020andobtainedtheCertificateofHighandNewTechEnterprise,theperiodofvalidityisthreeyears.Itappliesto15%taxrateforthreeyearssince2020.YichangCSGPolysiliconCo.,Ltd.(“YichangCSGPolysilicon”)passedreviewonahighandnewtechenterprisein2020andobtainedtheCertificateofHighandNewTechEnterprise,theperiodofvalidityisthreeyears.Itappliesto15%taxrateforthreeyearssince2020.DongguanCSGPV-techCo.,Ltd.(“DongguanCSGPV-tech”)passedreviewonahighandnewtechenterprisein2019andobtainedtheCertificateofHighandNewTechEnterprise,theperiodofvalidityisthreeyears.Itappliesto15%taxrateforthreeyearssince2019.Inthe2022high-techenterprisequalificationreview,theincometaxrateof15%willbetemporarilyappliedduringthereportingperiod.HebeiShichuangGlassCo.,Ltd.(“HebeiShichuang”)passedreviewonahighandnewtechenterprisein2019andobtainedtheCertificateofHighandNewTechEnterprise,theperiodofvalidityisthreeyears.Itappliesto15%taxrateforthreeyearssince2019.Inthe2022high-techenterprisequalificationreview,theincometaxrateof15%willbetemporarilyappliedduringthereportingperiod.WujiangCSGGlassCo.,Ltd.(“WujiangCSG”)passedreviewonahighandnewtechenterprisein2020,andobtainedtheCertificateofHighandNewTechEnterprise,andtheperiodofvaliditywasthreeyears.Itappliesto15%taxrateforthreeyearssince2020.XianningCSGGlassCoLtd.(“XianningCSG”)passedreviewonahighandnewtechenterprisein2020,andobtainedtheCertificateofHighandNewTechEnterprise,andtheperiodofvaliditywasthreeyears.Itappliesto15%taxrateforthreeyearssince2020.XianningCSGEnergy-SavingGlassCo.,Ltd.(“XianningCSGEnergy-Saving”)passedreviewonahighandnewtechenterprisein2021,andobtainedtheCertificateofHighandNewTechEnterprise,andtheperiodofvaliditywasthreeyears.Itappliesto15%taxrateforthreeyearssince2021.YichangCSGPhotoelectricGlassCo.,Ltd.(“YichangCSGPhotoelectric”)passedreviewonahighandnewtechenterprisein2021,andobtainedtheCertificateofHighandNewTechEnterprise,andtheperiodofvaliditywasthreeyears.Itappliesto15%taxrateforthreeyearssince2021.YichangCSGDisplayCo.,Ltd(“YichangCSGDisplay”)passedreviewonahighandnewtechenterprisein2021,andobtainedtheCertificateofHighandNewTechEnterprise,andtheperiodofvaliditywasthreeyears.Itappliesto15%taxrateforthreeyearssince2021.QingyuanCSGNewEnergy-SavingMaterialsCo.,Ltd.(“QingyuanCSGEnergy-Saving”)passedreviewonahighandnewtechenterprisein2019,andobtainedtheCertificateofHighandNewTechEnterprise,andtheperiodofvaliditywasthreeyears.Itappliesto15%taxrateforthreeyearssince2019.Inthe2022high-techenterprisequalificationreview,theincometaxrateof15%willbetemporarilyappliedduringthereportingperiod.HebeiCSGGlassCoLtd.(“HebeiCSG”)passedreviewonahighandnewtechenterprisein2021,andobtainedtheCertificateofHighandNewTechEnterprise,andtheperiodofvaliditywasthreeyears.Itappliesto15%taxrateforthreeyearssince2021.ShenzhenCSGAppliedTechnologyCoLtd.(“ShenzhenTechnology”)passedreviewonahighandnewtechenterprisein2021,andobtainedtheCertificateofHighandNewTechEnterprise,andtheperiodofvaliditywasthreeyears.Itappliesto15%taxrateforthreeyearssince2021.XianningCSGPhotoelectricGlassCo.,Ltd.(“XianningPhotoelectric”)passedreviewonahighandnewtechenterprisein2019and
obtainedtheCertificateofHighandNewTechEnterprise,theperiodofvalidityisthreeyears.Itappliesto15%taxrateforthreeyearssince2019.Inthe2022high-techenterprisequalificationreview,theincometaxrateof15%willbetemporarilyappliedduringthereportingperiod.DongguanCSGCrystalYuxinMaterialsCo.,Ltd.(“DongguanJingYuCompany”)passedreviewonahighandnewtechenterprisein2021andobtainedtheCertificateofHighandNewTechEnterprise,theperiodofvalidityisthreeyears.Itappliesto15%taxrateforthreeyearssince2021.SichuanCSGEnergyConservationGlassCo.,Ltd.(“SichuanCSGEnergyConservation”)obtainsenterpriseincometaxpreferentialtreatmentforWesternDevelopment,andtemporarilycalculatesenterpriseincometaxatataxrateof15%forcurrentyear.ChengduCSGGlassCo.,Ltd.(“ChengduCSG”)obtainsenterpriseincometaxpreferentialtreatmentforWesternDevelopment,andtemporarilycalculatesenterpriseincometaxatataxrateof15%forcurrentyear.XianCSGEnergyConservationGlassCo.,Ltd.(“XianCSGEnergyConservation”)obtainsenterpriseincometaxpreferentialtreatmentforWesternDevelopment,andtemporarilycalculatesenterpriseincometaxatataxrateof15%forcurrentyear.GuangxiCSGNewEnergyMaterialsTechnologyCo.,Ltd.(“GuangxiCSGNewEnergyMaterialsCompany”)obtainsenterpriseincometaxpreferentialtreatmentforWesternDevelopment,andtemporarilycalculatesenterpriseincometaxatataxrateof15%forcurrentyear.ZhaoqingCSGNewEnergyTechnologyCo.,Ltd.(“ZhaoqingCSGNewEnergyCompany”),ZhangzhouCSGKibingPVEnergyCo.,Ltd.(“ZhangzhouCSGPVEnergy”),HeyuanCSGKibingPVEnergyCo.,Ltd.(“HeyuanCSG”),andShaoxingCSGKibingNewEnergyCo.,Ltd.(“ShaoxingCSGNewEnergy”),XianningCSGPVEnergyCo.,Ltd.(“XianningPVEnergy”),ZhanjiangCSGNewEnergyCo.,Ltd.(“ZhanjiangPVEnergy”),arepublicinfrastructureprojectspeciallysupportedbythestateinaccordancewiththeArticle87inImplementingRegulationsoftheLawofthePeople'sRepublicofChinaonEnterpriseIncomeTax,andcanenjoythetaxpreferentialpolicyof“three-yearexemptionsandthree-yearhalves”,thatis,startingfromthetaxyearwhenthefirstrevenuefromproductionandoperationoccurs,theenterpriseincometaxisexemptedfromthefirsttothethirdyear,whilehalfoftheenterpriseincometaxiscollectedforthefollowingthreeyears.
3.Others
SomesubsidiariesoftheGrouphaveusedthe“exempt,credit,refund”methodongoodsexportedandtherefundrateis0%-13%。
VII.Notestotheconsolidatedfinancialstatements
1.Cashatbankandonhand
Unit:RMB
| Item | Balanceattheendoftheperiod | Balanceatthebeginningoftheperiod |
| Cashonhand | 130 | |
| Cashatbank | 2,523,965,640 | 2,453,477,573 |
| Othercashbalances | 346,076,771 | 312,448,333 |
| Total | 2,870,042,541 | 2,765,925,906 |
| Including:Totaloverseasdeposits | 19,686,544 | 8,906,359 |
| Thetotalamountoffundsthathaverestrictionsonuseduetomortgages,pledges,orfreezes | 6,076,772 | 9,448,334 |
2.Tradingfinancialassets
Unit:RMB
| Item | Balanceattheendoftheperiod | Balanceatthebeginningoftheperiod |
| Financialassetsmeasuredatfairvaluethroughprofitorloss | 1,209,000,000 | 999,600,000 |
| Ofwhich: | ||
| Structureddeposits | 1,209,000,000 | 999,600,000 |
| Total | 1,209,000,000 | 999,600,000 |
3.Notesreceivable
（1）Notesreceivablelistedbyclassification
Unit:RMB
| Item | Balanceattheendoftheperiod | Balanceatthebeginningoftheperiod |
| Tradeacceptancenotes | 445,375 | 19,220,984 |
| Total | 445,375 | 19,220,984 |
Unit:RMB
| Category | Balanceattheendoftheperiod | Balanceatthebeginningoftheperiod | ||||||||
| Carryingamount | Provisionforbaddebts | Bookvalue | Carryingamount | Provisionforbaddebts | Bookvalue | |||||
| Amount | Proportion | Amount | Proportion | Amount | Proportion | Amount | Proportion | |||
| Notesreceivablewithprovisionforbaddebtsonasingleitembasis | 2,226,877 | 100% | 1,781,502 | 80% | 445,375 | 28,438,249 | 71% | 20,778,806 | 73% | 7,659,443 |
| Notesreceivablewithbaddebtprovisionbasedonportfolio | 11,561,541 | 29% | 11,561,541 | |||||||
| Total | 2,226,877 | 100% | 1,781,502 | 80% | 445,375 | 39,999,790 | 100% | 20,778,806 | 52% | 19,220,984 |
Provisionforbaddebtsontheindividualbasis:
Unit:RMB
| Name | Closingbalance | |||
| Carryingamount | Provisionforbaddebts | Proportion | Reasonsforwithdrawal | |
| Notesreceivablewithprovisionforbaddebtsonasingleitembasis | 2,226,877 | 1,781,502 | 80% | Itmainlyrepresentedtradeacceptancenotesduefromevergrandeofthepartofsubsidiary,duetodifficulttopayordeteriorationofcashoperations,theprovisionforbaddebtswasfullyorpartiallyaccrued. |
| Total | 2,226,877 | 1,781,502 | ||
（
）Provisionforbaddebtsaccrued,recoveredorreversedinthecurrentperiod
Provisionforbaddebtsinthecurrentperiod:
Unit:RMB
| Category | Openingbalance | Amountofchangeinthecurrentperiod | Closingbalance | |||
| Provision | Collectorreversal | Write-off | TransfertoAccountsReceivable | |||
| Individualprovisionforbaddebts | 20,778,806 | 18,997,304 | 1,781,502 | |||
| Total | 20,778,806 | 18,997,304 | 1,781,502 | |||
（
）Attheendoftheperiod,thecompanytransferredthebillstoaccountsreceivableduetothefailureofthedrawertoperform
Unit:RMB
| Item | Amountofreceivablestransferredattheendoftheperiod |
| Tradeacceptancenotes | 27,584,466 |
| Total | 27,584,466 |
4.Accountsreceivable
（1）Accountsreceivabledisclosedbycategory
Unit:RMB
| Category | Endofterm | Beginningofterm | ||||||||
| Carryingamount | Provisionforbaddebts | Bookvalue | Carryingamount | Provisionforbaddebts | Bookvalue | |||||
| Amount | Proportion | Amount | Proportion | Amount | Proportion | Amount | Proportion | |||
| Provisionforbaddebtsontheindividualbasis | 182,594,849 | 19% | 120,581,801 | 66% | 62,013,048 | 159,936,493 | 19% | 103,566,693 | 65% | 56,369,800 |
| Provisionforbaddebtsbyportfolio | 796,194,994 | 81% | 15,924,375 | 2% | 780,270,619 | 687,914,171 | 81% | 13,758,284 | 2% | 674,155,887 |
| Total | 978,789,843 | 100% | 136,506,176 | 14% | 842,283,667 | 847,850,664 | 100% | 117,324,977 | 14% | 730,525,687 |
Provisionforbaddebtsontheindividualbasis:
Unit:RMB
| Name | Closingbalance | |||
| Carryingamount | Provisionforbaddebts | Proportion | Reasonsforwithdrawal | |
| Provisionforbaddebtsontheindividualbasis | 182,594,849 | 120,581,801 | 66% | Itmainlyrepresentedthegoodsreceivableduefromaclientofthepartofsubsidiary,duetobusinessdisputeordeteriorationofcustomeroperations,theprovisionforbaddebtswasfullyorpartiallyaccrued. |
| Total | 182,594,849 | 120,581,801 | ||
Provisionforbaddebtsbyportfolio:
Unit:RMB
| Name | Closingbalance | ||
| Carryingamount | Provisionforbaddebts | Proportion | |
| Portfolio1 | 796,194,994 | 15,924,375 | 2% |
| Total | 796,194,994 | 15,924,375 | |
Disclosurebytheagingofaccountsreceivable
Unit:RMB
| Aging | Closingbalance |
| Within1year(including1year) | 708,817,267 |
| 1to2years | 170,870,147 |
| 2to3years | 48,962,202 |
| Over3years | 50,140,227 |
| Total | 978,789,843 |
（
）Provisionforbaddebtsaccrued,recoveredorreversedinthecurrentperiodProvisionforbaddebtsinthecurrentperiod:
Unit:RMB
| Category | Openingbalance | Amountofchangeinthecurrentperiod | Closingbalance | |||
| Provision | Billsreceivabletransferredin | Collectorreversal | Write-off | |||
| Accountsreceivablebaddebtprovision | 117,324,977 | 6,976,393 | 18,997,304 | 5,880,424 | 912,074 | 136,506,176 |
| Total | 117,324,977 | 6,976,393 | 18,997,304 | 5,880,424 | 912,074 | 136,506,176 |
（
）Accountsreceivableactuallywrittenoffinthecurrentperiod
Unit:RMB
| Item | Amountwrittenoff |
| Accountsreceivablefromsubsidiaries | 912,074 |
（4）Top5oftheclosingbalanceoftheaccountsreceivablecollectedaccordingtothearrearsparty
Unit:RMB
| Name | Closingbalanceofaccountsreceivable | Proportioninthetotalbalanceofaccountsreceivableattheendoftheperiod | Endingbalanceofbaddebtreserves |
| Totalbalancesforthefivelargestaccountsreceivable | 328,308,132 | 34% | 49,011,582 |
| Total | 328,308,132 | 34% |
5.Receivablesfinancing
Unit:RMB
| Item | Closingbalance | Openingbalance |
| Bankacceptancenotes | 582,328,808 | 297,046,123 |
| Total | 582,328,808 | 297,046,123 |
6.Advancestosuppliers（
）Listedbyaginganalysis
Unit:RMB
| Aging | Closingbalance | Openingbalance | ||
| Amount | Proportion | Amount | ||
| within1year | 234,152,262 | 100% | 74,971,763 | 98% |
| 1to2years | 618,299 | 486,849 | 1% | |
| 2to3years | 35,000 | 520,498 | 1% | |
| over3years | 520,498 | 118,166 | ||
| Total | 235,326,059 | 76,097,276 |
（2）Top5oftheclosingbalanceoftheadvancestosupplierscollectedaccordingtothetarget
Unit:RMB
| Item | Balance | Percentageintotaladvancestosuppliersbalance |
| Totalbalancesforthefivelargestadvancestosuppliers | 135,780,759 | 58% |
7.Otherreceivables
Unit:RMB
| Item | Closingbalance | Openingbalance |
| Otherreceivables | 201,090,652 | 183,696,711 |
| Total | 201,090,652 | 183,696,711 |
（1）Otherreceivables1）Classificationofotherreceivablesbynature
Unit:RMB
| Nature | Closingbookbalance | Openingbookbalance |
| Receivablesfromspecialfundfortalent | 171,000,000 | 171,000,000 |
| Paymentsmadeonbehalfofotherparties | 48,887,030 | 47,686,819 |
| Advancepayment(i) | 10,366,164 | 10,366,164 |
| Refundabledeposits | 19,669,918 | 9,191,412 |
| Pettycash | 1,572,171 | 497,273 |
| Others | 13,123,214 | 8,110,638 |
| Total | 264,618,497 | 246,852,306 |
(i)ItistheprepaymentformaterialsofthesubsidiaryYingdeCBMMiningCo.,Ltd.Theprepaymentsaccountsweretransferredtootherreceivablesandtheprovisionofthebaddebtswasprovidedindividually.
）Withdrawalofbaddebtprovision
Unit:RMB
| Baddebtprovision | PhaseI | PhaseII | PhaseIII | Total |
| Expectedcreditlossesinthenext12months | Expectedcreditlossfortheentireduration(nocreditimpairmentoccurred) | Expectedcreditlossfortheentireduration(creditimpairmentoccurred) | ||
| Balanceon1January2022 | 1,166,526 | 61,989,069 | 63,155,595 | |
| Balanceon1January2022incurrentperiod |
| Withdrawal | 412,069 | 412,069 | ||
| Recovery | 15,816 | 15,816 | ||
| Write-off | 24,003 | 24,003 | ||
| Balanceon30June2022 | 1,538,776 | 61,989,069 | 63,527,845 |
3）Disclosurebytheagingofotherreceivables
Unit:RMB
| Aging | Closingbalance |
| Within1year(including1year) | 55,141,858 |
| 1to2years | 8,856,860 |
| 2to3years | 910,743 |
| Over3years | 199,709,036 |
| 3to4years | 2,619,497 |
| 4to5years | 2,042,730 |
| Over5years | 195,046,809 |
| Total | 264,618,497 |
4）Provisionforbaddebtswithdrawn,recoveredorreversedduringthereportperiodProvisionforbaddebts:
Unit:RMB
| Category | Openingbalance | Amountofchangeinthecurrentperiod | Closingbalance | |||
| Provision | Collectorreversal | Write-off | Others | |||
| Provisionforbaddebtsofotherreceivables | 63,155,595 | 412,069 | 15,816 | 24,003 | 63,527,845 | |
| Total | 63,155,595 | 412,069 | 15,816 | 24,003 | 63,527,845 | |
）Otherreceivablesactuallywrittenoffinthecurrentperiod
Unit:RMB
| Item | Write-offamount |
| Otherreceivables | 24,003 |
）Top5oftheclosingbalanceoftheotheraccountsreceivablecollatedaccordingtothearrearsparty
Unit:RMB
| NameofCompany | Natureofbusiness | Closingbalance | Aging | Proportioninthetotalbalanceofotherreceivablesattheendoftheperiod | Closingbalanceofbaddebtprovision |
| CompanyA | Independentthirdparty | 171,000,000 | Over5years | 65% | 51,300,000 |
| Governmental | Independentthird | 24,000,000 | Within1year | 9% | 480,000 |
| departmentB | party | ||||
| GovernmentaldepartmentC | Independentthirdparty | 11,556,004 | Over5years | 4% | 231,120 |
| CompanyD | Independentthirdparty | 10,366,164 | Over5years | 4% | 10,366,164 |
| GovernmentaldepartmentE | Independentthirdparty | 10,000,000 | Within1year | 4% | 200,000 |
| Total | 226,922,168 | 86% | 62,577,284 |
8.Inventories
（1）Inventoryclassification
Unit:RMB
| Item | Closingbalance | Openingbalance | ||||
| Carryingamount | Reservefordepreciationofinventory | Bookvalue | Carryingamount | Reservefordepreciationofinventory | Bookvalue | |
| Rawmaterials | 697,911,751 | 976,330 | 696,935,421 | 389,937,319 | 1,002,085 | 388,935,234 |
| Productsinprocess | 32,012,843 | 32,012,843 | 22,801,437 | 22,801,437 | ||
| Productsinstock | 984,442,555 | 1,851,314 | 982,591,241 | 632,814,981 | 5,829,059 | 626,985,922 |
| Materialincirculation | 55,533,224 | 160,330 | 55,372,894 | 55,480,764 | 397,832 | 55,082,932 |
| Total | 1,769,900,373 | 2,987,974 | 1,766,912,399 | 1,101,034,501 | 7,228,976 | 1,093,805,525 |
（2）Provisionfordeclineinthevalueofinventories
单位：元
| Item | Openingbalance | Increasedinthisterm | Decreasedinthisterm | Closingbalance | ||
| Provision | Others | Reversalorwriteoff | Others | |||
| Rawmaterials | 1,002,085 | 25,755 | 976,330 | |||
| Productsinstock | 5,829,059 | 3,977,745 | 1,851,314 | |||
| Materialincirculation | 397,832 | 237,502 | 160,330 | |||
| Total | 7,228,976 | 4,241,002 | 2,987,974 | |||
9.Othercurrentassets
Unit:RMB
| Item | Closingbalance | Openingbalance |
| VATtobeoffset | 50,432,826 | 128,033,622 |
| Enterpriseincometaxprepaid | 8,211,086 | 3,771,709 |
| VATinputtoberecognized | 9,956,323 | 8,888,295 |
| Others | 16,435 | 11,672 |
| Total | 68,616,670 | 140,705,298 |
10.Investmentproperty
（1）Investmentrealestateusingcostmeasurementmodel
□Applicable√Notapplicable
（2）Investmentpropertywithfairvaluemeasurementmode
√Applicable□Notapplicable
Unit:RMB
| Item | Houses,buildingsandrelatedlanduserights | Total |
| I.Openingbalance | 383,084,500 | 383,084,500 |
| II.Changesinthecurrentperiod | ||
| III.Closingbalance | 383,084,500 | 383,084,500 |
11.Fixedassets
Unit:RMB
| Item | Closingbalance | Openingbalance |
| Fixedassets | 9,336,413,529 | 8,566,515,026 |
| Total | 9,336,413,529 | 8,566,515,026 |
（1）Particularsoffixedassets
Unit:RMB
| Item | Buildings | Machineryandequipment | Motorvehicles | Total |
| I.Originalbookvalue: | ||||
| 1.Openingbalance | 4,175,491,233 | 12,040,306,471 | 257,186,014 | 16,472,983,718 |
| 2.Increasedamountoftheperiod | ||||
| (1)Acquisition | 2,061,137 | 21,622,510 | 8,356,693 | 32,040,340 |
| (2)Transfersfromconstructioninprogress | 388,181,424 | 1,841,384,996 | 6,455,298 | 2,236,021,718 |
| (3)Increaseinbusinessmergers | ||||
| (4)Others | 3,107,362 | 2,009,907 | 5,117,269 | |
| 3.Decreasedamountoftheperiod | ||||
| (1)Disposalorretirement | 243,357 | 31,222,551 | 7,380,031 | 38,845,939 |
| (2)Transfertoconstructioninprogress | 183,920,987 | 324,752,456 | 401,729 | 509,075,172 |
| (3)Others | 1,721,971 | 822,894 | 180,124 | 2,724,989 |
| 4.Closingbalance | 4,379,847,479 | 13,549,623,438 | 266,046,028 | 18,195,516,945 |
| II.Accumulative |
| Item | Buildings | Machineryandequipment | Motorvehicles | Total |
| depreciation | ||||
| 1.Openingbalance | 1,129,349,070 | 5,532,791,435 | 230,711,343 | 6,892,851,848 |
| 2.Increasedamountoftheperiod | ||||
| (1)Provision | 63,927,057 | 358,444,891 | 13,123,636 | 435,495,584 |
| (2)Others | 908,372 | 287,308 | 1,195,680 | |
| 3.Decreasedamountoftheperiod | ||||
| (1)Disposalorretirement | 34,034 | 5,782,357 | 7,232,019 | 13,048,410 |
| (2)Transfertoconstructioninprogress | 47,589,170 | 240,194,191 | 299,369 | 288,082,730 |
| (3)Others | 372,612 | 155,946 | 6,861 | 535,419 |
| 4.Closingbalance | 1,145,280,311 | 5,646,012,204 | 236,584,038 | 7,027,876,553 |
| III.Impairmentprovision | ||||
| 1.Openingbalance | 59,901,148 | 953,451,046 | 264,650 | 1,013,616,844 |
| 2.Increasedamountoftheperiod | ||||
| (1)Constructioninprogresstransferredin | 111,232,516 | 730,885,926 | 528,767 | 842,647,209 |
| 3.Decreasedamountoftheperiod | ||||
| (1)Disposalorscrap | 25,037,190 | 25,037,190 | ||
| 4.Closingbalance | 171,133,664 | 1,659,299,782 | 793,417 | 1,831,226,863 |
| IV.Bookvalue | ||||
| 1.Closingbookvalue | 3,063,433,504 | 6,244,311,452 | 28,668,573 | 9,336,413,529 |
| 2.Openingbookvalue | 2,986,241,015 | 5,554,063,990 | 26,210,021 | 8,566,515,026 |
（
）Fixedassetswithpendingcertificatesofownership
Unit:RMB
| Item | Carryingamount | Reasonsfornotyetobtainingcertificatesoftitle |
| Buildings | 783,783,208 | Havesubmittedtherequireddocumentsandareintheprocessofapplication,ortherelatedlanduserightcertificatepending |
12.Constructioninprocess
Unit:RMB
| Item | Closingbalance | Openingbalance |
| Constructioninprocess | 2,809,337,684 | 2,461,088,650 |
| Total | 2,809,337,684 | 2,461,088,650 |
(1)Particularsofconstructioninprocess
Unit:RMB
| Item | Closingbalance | Openingbalance | ||||
| Bookbalance | Provisionforimpairmentloss | Bookvalue | Bookbalance | Provisionforimpairmentloss | Bookvalue | |
| YichangCSGpolysilicontech-innovationproject | 1,535,368,156 | 857,890,185 | 677,477,971 | |||
| AnhuiLightweight&high-permeabilitypanelforsolarenergyequipmentmanufacturingbaseproject | 1,541,203,471 | 1,541,203,471 | 765,170,527 | 765,170,527 | ||
| QingyuanNewMaterialsPhaseItechnicaltransformationproject | 221,679,025 | 94,897,537 | 126,781,488 | 297,932,280 | 174,675,600 | 123,256,680 |
| ZhaoqingCSGhigh-gradeenergysavingglassproductionlineproject | 55,183,034 | 55,183,034 | 279,138,811 | 279,138,811 | ||
| DongguanPVBBuilding450MWPERCbatterytechnologyupgradeproject | 186,866,743 | 184,998,076 | 1,868,667 | 186,866,743 | 184,998,076 | 1,868,667 |
| TianjinEnergy-savingCoatingProductionLinePurchaseandUpgradeProject | 95,225,037 | 95,225,037 | ||||
| XianningCSG1200T/DPhotovoltaicPackagingMaterialProductionLineProject | 287,738,732 | 287,738,732 | 66,449,089 | 66,449,089 | ||
| AnhuiFengyangquartzsandproject | 253,100 | 253,100 | 56,656,483 | 56,656,483 | ||
| WujiangArchitectural | 70,192,064 | 70,192,064 | 51,766,295 | 51,766,295 | ||
| Item | Closingbalance | Openingbalance | ||||
| Bookbalance | Provisionforimpairmentloss | Bookvalue | Bookbalance | Provisionforimpairmentloss | Bookvalue | |
| Glassnewlybuildingintelligentmanufacturingplantconstructionproject | ||||||
| WujiangFloatLightweightandHigh-efficiencydouble-glassprocessingproductionlineconstructionproject | 106,468,188 | 106,468,188 | 39,032,912 | 39,032,912 | ||
| LEDSapphireSubstrateProject | 32,420,412 | 32,420,412 | 32,420,412 | 32,420,412 | ||
| ZhaoqingCSGhigh-gradeautomobileglassproductionlineproject | 54,688,369 | 54,688,369 | 27,941,928 | 27,941,928 | ||
| HebeiPanelGlassultra-thinelectronicglassLineIIconstructionproject | 75,707,997 | 75,707,997 | 24,393,421 | 24,393,421 | ||
| Dongguansolardouble-glassextensiontechnologytransformationupgradeproject | 274,502,743 | 274,502,743 | 2,389,871 | 2,389,871 | ||
| Dongguansolarlightandhigh-efficiencydouble-glassprocessingproductionlineconstructionproject | 2,000,908 | 2,000,908 | 551,795 | 551,795 | ||
| GuangxiBeihaiPhotovoltaicGreenEnergyIndustryPark(PhaseI)Project | 3,080,041 | 3,080,041 | 382,997 | 382,997 | ||
| HefeiCSG | 820,064 | 820,064 | ||||
| Item | Closingbalance | Openingbalance | ||||
| Bookbalance | Provisionforimpairmentloss | Bookvalue | Bookbalance | Provisionforimpairmentloss | Bookvalue | |
| Energy-savingGlassIntelligentManufacturingIndustryBaseProject | ||||||
| DongguanSolarG6/G7LineProcessandEquipmentUpgradingProject | 20,679,019 | 20,679,019 | ||||
| Others | 212,266,126 | 24,096,327 | 188,169,799 | 275,679,766 | 26,293,600 | 249,386,166 |
| Total | 3,145,750,036 | 336,412,352 | 2,809,337,684 | 3,737,366,523 | 1,276,277,873 | 2,461,088,650 |
(2)Changesinimportantconstructionprojectsinthecurrentperiod
Unit:RMB
| Project | Budget | Openingbalance | Increasedthisterm | Transfertofixedassetsinthisterm | Closingbalance | Proportionbetweenengineeringinputandbudget | Progress | Projects | Accumulatedamountofinterestcapitalization | Including:amountinterestcapitalizationincurrentperiod | Interestcapitalizationrateincurrentperiod | Fundrecourse |
| YichangCSGpolysilicontech-innovationproject | 49,520,000 | 1,535,368,156 | 1,511,107,324 | 24,260,832 | 100% | 100% | Internalfundandbankloan | |||||
| AnhuiLightweight&high-permeabilitypanelforsolarenergyequipmentmanufacturingbaseproject | 3,739,020,000 | 765,170,527 | 776,565,916 | 532,972 | 1,541,203,471 | 41% | 85% | 17,468,116 | 15,022,618 | 4.20% | Internalfundandbankloan | |
| QingyuanNewMaterialsPhaseItechnicaltransformationproject | 534,870,000 | 297,932,280 | 4,614,306 | 363,834 | 80,503,727 | 221,679,025 | 4% | 4% | Internalfundandbankloan | |||
| ZhaoqingCSGhigh-gradeenergysavingglassproductionlineproject | 500,000,000 | 279,138,811 | 27,140,143 | 251,085,070 | 10,850 | 55,183,034 | 74% | 89% | 5,405,566 | 1,250,641 | 3.80% | Internalfundandbankloan |
| DongguanPVBBuilding450MWPERCbatterytechnologyupgradeproject | 100,990,000 | 186,866,743 | 186,866,743 | 1% | 3% | Internalfundandbankloan |
| Project | Budget | Openingbalance | Increasedthisterm | Transfertofixedassetsinthisterm | Closingbalance | Proportionbetweenengineeringinputandbudget | Progress | Projects | Accumulatedamountofinterestcapitalization | Including:amountinterestcapitalizationincurrentperiod | Interestcapitalizationrateincurrentperiod | Fundrecourse |
| TianjinEnergy-savingCoatingProductionLinePurchaseandUpgradeProject | 114,945,000 | 95,225,037 | 5,636,400 | 100,861,437 | 100% | 100% | 2,644,397 | 1,134,116 | 4% | Internalfundandbankloan | ||
| XianningCSG1200T/DPhotovoltaicPackagingMaterialProductionLineProject | 858,090,000 | 66,449,089 | 221,289,643 | 287,738,732 | 33% | 65% | 10,778,660 | 5,655,493 | 4.52% | Internalfundandbankloan | ||
| AnhuiFengyangquartzsandproject | 1,029,300,000 | 56,656,483 | 83,192,287 | 139,595,670 | 253,100 | 14% | 56% | 1,144,948 | 1,026,584 | 4.55% | Internalfundandbankloan | |
| WujiangArchitecturalGlassnewlybuildingintelligentmanufacturingplantconstructionproject | 179,140,610 | 51,766,295 | 18,921,344 | 495,575 | 70,192,064 | 40% | 45% | 819,017 | 497,923 | 3.85% | Internalfundandbankloan | |
| WujiangFloatLightweightandHigh-efficiencydouble-glassprocessingproductionlineconstructionproject | 158,850,000 | 39,032,912 | 69,360,586 | 1,925,310 | 106,468,188 | 67% | 80% | 1,212,348 | 824,392 | 4% | Internalfundandbankloan | |
| LEDSapphire | 35,000,000 | 32,420,412 | 32,420,412 | 93% | 93% | 4,650,543 | Internal |
| Project | Budget | Openingbalance | Increasedthisterm | Transfertofixedassetsinthisterm | Closingbalance | Proportionbetweenengineeringinputandbudget | Progress | Projects | Accumulatedamountofinterestcapitalization | Including:amountinterestcapitalizationincurrentperiod | Interestcapitalizationrateincurrentperiod | Fundrecourse |
| SubstrateProject | fundandbankloan | |||||||||||
| ZhaoqingCSGhigh-gradeautomobileglassproductionlineproject | 609,830,000 | 27,941,928 | 26,746,441 | 54,688,369 | 9% | 13% | Internalfundandbankloan | |||||
| HebeiPanelGlassultra-thinelectronicglassLineIIconstructionproject | 284,964,800 | 24,393,421 | 51,867,735 | 553,159 | 75,707,997 | 30% | 50% | 645,947 | 645,568 | 4.35% | Internalfundandbankloan | |
| Dongguansolardouble-glassextensiontechnologytransformationupgradeproject | 143,490,000 | 2,389,871 | 272,112,872 | 274,502,743 | 57% | 60% | 461,552 | 461,552 | 3.56% | Internalfundandbankloan | ||
| Dongguansolarlightandhigh-efficiencydouble-glassprocessingproductionlineconstructionproject | 76,140,000 | 551,795 | 1,449,113 | 2,000,908 | 77% | 100% | Internalfundandbankloan |
| Project | Budget | Openingbalance | Increasedthisterm | Transfertofixedassetsinthisterm | Closingbalance | Proportionbetweenengineeringinputandbudget | Progress | Projects | Accumulatedamountofinterestcapitalization | Including:amountinterestcapitalizationincurrentperiod | Interestcapitalizationrateincurrentperiod | Fundrecourse |
| GuangxiBeihaiPhotovoltaicGreenEnergyIndustryPark(PhaseI)Project | 4,942,051,800 | 382,997 | 2,822,610 | 125,566 | 3,080,041 | 2% | Internalfundandbankloan | |||||
| HefeiCSGEnergy-savingGlassIntelligentManufacturingIndustryBaseProject | 210,190,000 | 820,064 | 820,064 | Internalfundandbankloan | ||||||||
| DongguanSolarG6/G7LineProcessandEquipmentUpgradingProject | 59,260,000 | 20,679,019 | 20,679,019 | 6% | Internalfundandbankloan | |||||||
| Others | 1,320,351,179 | 275,679,766 | 173,035,132 | 229,501,367 | 6,947,405 | 212,266,126 | 297,042 | 221,232 | Internalfundandbankloan | |||
| Total | 14,946,003,389 | 3,737,366,523 | 1,756,253,611 | 2,236,021,718 | 111,848,380 | 3,145,750,036 | 45,528,136 | 26,740,119 |
13.Rightofuseassets
Unit:RMB
| Item | LeaseLand | Rentalhousing | Total |
| I.Originalbookvalue: | |||
| 1.Openingbalance | 9,770,358 | 1,897,983 | 11,668,341 |
| 2.Increasedamountoftheperiod | |||
| 3.Decreasedamountoftheperiod | |||
| (1)Others | 473,610 | 473,610 | |
| 4.Closingbalance | 9,296,748 | 1,897,983 | 11,194,731 |
| II.Accumulativedepreciation | |||
| 1.Openingbalance | 942,985 | 813,421 | 1,756,406 |
| 2.Increasedamountoftheperiod | |||
| (1)Provision | 470,592 | 406,711 | 877,303 |
| 3.Decreasedamountoftheperiod | |||
| (1)Others | 473,610 | 473,610 | |
| 4.Closingbalance | 939,967 | 1,220,132 | 2,160,099 |
| III.Impairmentprovision | |||
| IV.Bookvalue | |||
| 1.Closingbookvalue | 8,356,781 | 677,851 | 9,034,632 |
| 2.Openingbookvalue | 8,827,373 | 1,084,562 | 9,911,935 |
14.Intangibleassets
(1)Particularsofintangibleassets
Unit:RMB
| Item | Landuserights | Patentsandknow-how | Exploitationrights | Others | Total |
| I.Originalbookvalue: | |||||
| 1.Openingbalance | 1,169,898,169 | 428,988,220 | 5,651,751 | 46,713,240 | 1,651,251,380 |
| 2.Increasedamountofthisperiod | |||||
| (1)Acquisition | 62,606,655 | 2,708,775 | 65,315,430 |
| Item | Landuserights | Patentsandknow-how | Exploitationrights | Others | Total |
| (2)InternalR&D | 8,010,026 | 8,010,026 | |||
| (3)Others | 165,706 | 165,706 | |||
| 3.Decreasedamountoftheperiod | |||||
| (1)Others | 259,999 | 259,999 | |||
| 4.Closingbalance | 1,232,504,824 | 436,998,246 | 5,651,751 | 49,327,722 | 1,724,482,543 |
| II.Accumulatedamortization | |||||
| 1.Openingbalance | 230,710,042 | 194,971,917 | 4,591,610 | 40,155,929 | 470,429,498 |
| 2.Increasedamountofthisperiod | |||||
| (1)Provision | 12,270,060 | 16,414,041 | 91,729 | 2,632,668 | 31,408,498 |
| 3.Decreasedamountoftheperiod | |||||
| (1)Others | 91,001 | 91,001 | |||
| 4.Closingbalance | 242,980,102 | 211,385,958 | 4,683,339 | 42,697,596 | 501,746,995 |
| III.Impairmentprovision | |||||
| 1.Openingbalance | 13,201,347 | 9,133 | 13,210,480 | ||
| 2.Closingbalance | 13,201,347 | 9,133 | 13,210,480 | ||
| IV.Bookvalue | |||||
| 1.Closingbookvalue | 989,524,722 | 212,410,941 | 968,412 | 6,620,993 | 1,209,525,068 |
| 2.Openingbookvalue | 939,188,127 | 220,814,956 | 1,060,141 | 6,548,178 | 1,167,611,402 |
Attheendoftheperiod,theintangibleassetsarisingfrominternalresearchanddevelopmentaccountedfor20.07%oftotalofintangibleassets.
(2)Landuserightswithoutpropertyrightcertificates
Unit:RMB
| Item | Bookvalue | Reasonfornotyetobtainingcertificatesoftitle |
| Landuserights | 4,903,343 |
AsatJune30,2022,ownershipcertificatesoflanduseright(“LandownershipCertificates”)forcertainlanduserightsoftheGroupwithcarryingamountsofapproximatelyRMB4,903,343(cost:RMB6,685,352)hadnotyetbeenobtainedbytheGroup(asatDecember31,2021,carryingamount:RMB4,963,913,cost:RMB6,685,352).TheCompany’smanagementisoftheviewthatthereisnolegalrestrictionfortheGrouptoapplyforandobtaintheLandOwnershipCertificatesandhasnoadverseeffectontheGroup’sbusinessoperation.
15.Developmentexpenditure
Unit:RMB
| Item | Openingbalance | Theincreasedamountintheperiod | Thedecreaseamountintheperiod | Closingbalance | ||
| Internaldevelopmentexpenditure | Others | Recognizedasintangibleassets | Transfertocurrentprofitandloss | |||
| Developmentexpenditure | 72,019,362 | 27,709,486 | 8,010,026 | 91,718,822 | ||
| Total | 72,019,362 | 27,709,486 | 8,010,026 | 91,718,822 | ||
DuringJan.-Jun.2022,thetotalamountofresearchanddevelopmentexpendituresoftheGroupwasRMB293,587,416(Jan.-Jun.2021:RMB235,137,041),includingRMB265,877,930(Jan.-Jun.2021:RMB224,886,882)recordedinincomestatementforcurrentperiodandtheresearchanddevelopmentexpenditurewiththeamountofRMB8,010,026recognizedasintangibleassetsforthecurrentperiod(Jan.-Jun.2021:1,247,970).AtJune30,2022,theintangibleassetsarisingfrominternalresearchanddevelopmentaccountedfor20.07%oftotalofintangibleassets(31December2021:20.47%).
16.Goodwill
(1)Bookvalueofgoodwill
Unit:RMB
| Nameofthecompanies | Openingbalance | Increasedthisterm | Decreasedthisterm | Closingbalance |
| TianjinCSGEnergy-SavingGlassCo.,Ltd. | 3,039,946 | 3,039,946 | ||
| XianningCSGPhotoelectric | 4,857,406 | 4,857,406 | ||
| ShenzhenCSGDisplay | 389,494,804 | 389,494,804 | ||
| Total | 397,392,156 | 397,392,156 |
(2)Goodwillimpairmentprovision
Unit:RMB
| Nameofthecompanies | Openingbalance | Increasedthisterm | Decreasedthisterm | Closingbalance |
| ShenzhenCSGDisplayer | 267,244,297 | 267,244,297 | ||
| Total | 267,244,297 | 267,244,297 |
17.Long-termprepaidexpenses
Unit:RMB
| Item | Openingbalance | Increasedthisterm | Amortizedthisterm | Otherdecreases |
| Expensestobeamortized | 3,013,721 | 510,145 | 289,845 | 3,234,021 |
| Total | 3,013,721 | 510,145 | 289,845 | 3,234,021 |
18.Deferredincometaxassets/deferredincometaxliabilities
(1)Unoffsetdeferredincometaxassets
Unit:RMB
| Item | Closingbalance | Openingbalance | ||
| Deductibletemporarydifference | Deferredincometaxassets | Deductibletemporarydifference | Deferredincometaxassets | |
| Provisionforassetimpairments | 900,912,768 | 136,375,295 | 1,005,602,209 | 152,036,386 |
| Deductibleloss | 309,731,654 | 59,171,312 | 621,359,522 | 106,718,563 |
| Governmentgrants | 167,900,580 | 25,975,215 | 165,972,475 | 25,755,549 |
| Accruedexpenses | 6,019,406 | 902,911 | 7,908,397 | 1,186,260 |
| Inventoryunrealizedprofit | 40,952,102 | 6,091,553 | 50,797,613 | 7,619,642 |
| Depreciationoffixedassets | 67,473,650 | 14,344,275 | 65,556,309 | 13,582,668 |
| Total | 1,492,990,160 | 242,860,561 | 1,917,196,525 | 306,899,068 |
(2)Unoffsetdeferredincometaxliabilities
Unit:RMB
| Item | Closingbalance | Openingbalance | ||
| Deductibletemporarydifference | Deferredincometaxliabilities | Deductibletemporarydifference | Deferredincometaxliabilities | |
| Depreciationoffixedassets | 533,523,643 | 81,918,910 | 527,215,830 | 80,756,420 |
| Changesinfairvalueofinvestmentproperty | 370,245,713 | 55,536,857 | 370,245,713 | 55,536,857 |
| Total | 903,769,356 | 137,455,767 | 897,461,543 | 136,293,277 |
(3)Thenetbalancesofdeferredtaxassetsorliabilities
Unit:RMB
| Item | Off-setamountofdeferredincometaxassetsandliabilitiesattheperiod-end | Closingbalanceofdeferredincometaxassetsorliabilitiesafteroff-set | Off-setamountofdeferredincometaxassetsandliabilitiesattheperiod-beginning | Openingbalanceofdeferredincometaxassetsorliabilitiesafteroff-set |
| Deferredtaxassets | 46,199,114 | 196,661,447 | 51,713,145 | 255,185,923 |
| Deferredtaxliabilities | 46,199,114 | 91,256,653 | 51,713,145 | 84,580,132 |
(4)Detailsofunrecognizeddeferredincometaxassets
Unit:RMB
| Item | Closingbalance | Openingbalance |
| Deductiblelosses | 2,046,255,537 | 2,045,391,888 |
| Total | 2,046,255,537 | 2,045,391,888 |
(5)Deductiblelossesofunrecognizeddeferredincometaxassetswillduethefollowingyears
Unit:RMB
| Year | Closingbalance | Openingbalance | Note |
| Yearof2022 | 83,303,539 | 83,303,539 | |
| Yearof2023 | 146,238,837 | 146,238,837 | |
| Yearof2024 | 178,208,832 | 178,208,832 | |
| Yearof2025 | 939,085,536 | 939,085,536 | |
| Yearof2026 | 698,555,144 | 698,555,144 | |
| Yearof2027 | 863,649 | ||
| Total | 2,046,255,537 | 2,045,391,888 |
19.Othernon-currentassets
Unit:RMB
| Item | Closingbalance | Openingbalance | ||||
| Bookbalance | Impairmentprovision | Bookvalue | Bookbalance | Impairmentprovision | Bookvalue | |
| Prepaymentofengineeringequipment | 361,724,043 | 361,724,043 | 469,352,622 | 469,352,622 | ||
| Prepaymentforleaseoflanduserights | 64,250,000 | 64,250,000 | 14,810,000 | 14,810,000 | ||
| Large-denominati | 100,000,000 | 100,000,000 | 100,000,000 | 100,000,000 | ||
| oncertificatesofdeposit | ||||||
| Total | 525,974,043 | 525,974,043 | 584,162,622 | 584,162,622 |
20.Short-termborrowings
(1)Classificationofshort-termborrowings
Unit:RMB
| Item | Closingbalance | Openingbalance |
| Guaranteedloan | 168,108,522 | 80,770,000 |
| Unsecuredloan | 300,000,000 | 100,000,000 |
| Total | 468,108,522 | 180,770,000 |
(i)OnJune30,2022,theCompanyprovidedguaranteesforshort-termloansofRMB168,108,522(31December2021:RMB80,770,000).(ii)OnJune30,2022,theinterestraterangeofShort-termborrowingsis2.70%-4.05%(December31,2021:3.40%-3.90%).
21.Notespayable
Unit:RMB
| Item | Closingbalance | Openingbalance |
| Tradeacceptancenotes | 145,475,638 | 107,571,279 |
| Bankacceptancenotes | 404,463,990 | 293,091,434 |
| Total | 549,939,628 | 400,662,713 |
22.Contractliabilities
Unit:RMB
| Item | Closingbalance | Openingbalance |
| Contractliabilities | 413,885,125 | 335,188,642 |
| Total | 413,885,125 | 335,188,642 |
23.Accountspayable
(1)Listofaccountspayable
Unit:RMB
| Item | Closingbalance | Openingbalance |
| Materialspayable | 945,889,859 | 665,770,883 |
| Equipmentpayable | 244,832,123 | 268,623,795 |
| Constructionexpensespayable | 433,608,433 | 372,802,783 |
| Freightpayable | 78,993,780 | 68,894,843 |
| Utilitiespayable | 88,134,291 | 47,260,003 |
| Others | 5,474,045 | 5,499,005 |
| Total | 1,796,932,531 | 1,428,851,312 |
(2)Significantaccountspayabledueforoveroneyear
Unit:RMB
| Item | Closingbalance | Unpaidreason |
| Constructionandequipments | 172,773,389 | Thefinalaccountoftheprojecthasnotbeencompleted,soithasnotbeensettled. |
| Total | 172,773,389 |
24.Employeebenefitspayable
(1)Listofemployeebenefitspayable
Unit:RMB
| Item | Openingbalance | Increasedthisterm | Decreasedthisterm | Closingbalance |
| I.Short-termemployeebenefitspayable | 426,027,259 | 881,217,123 | 1,019,531,915 | 287,712,467 |
| II.Welfareafterdeparture-definedcontributionplans | 11,722 | 73,417,024 | 73,412,071 | 16,675 |
| III.Terminationbenefits | 173,998 | 1,462,816 | 1,636,814 | |
| Total | 426,212,979 | 956,096,963 | 1,094,580,800 | 287,729,142 |
(2)Listofshort-termemployeebenefits
Unit:RMB
| Item | Openingbalance | Increasedthisterm | Decreasedthisterm | Closingbalance |
| 1.Wagesandsalaries,bonuses,allowancesandsubsidies | 402,716,350 | 818,189,015 | 958,424,388 | 262,480,977 |
| 2.Socialsecuritycontributions | 5,808 | 31,093,375 | 31,087,818 | 11,365 |
| Including:Medicalinsurance | 5,097 | 27,629,935 | 27,624,254 | 10,778 |
| Workinjuryinsurance | 291 | 2,411,059 | 2,410,763 | 587 |
| Maternityinsurance | 420 | 1,052,381 | 1,052,801 |
| 3.Housingfunds | 958,798 | 22,181,389 | 21,933,449 | 1,206,738 |
| 4.Labourunionfundsandemployeeeducationfunds | 22,346,303 | 9,753,344 | 8,086,260 | 24,013,387 |
| Total | 426,027,259 | 881,217,123 | 1,019,531,915 | 287,712,467 |
(3)Listofdefinedcontributionplans
Unit:RMB
| Item | Openingbalance | Increasedthisterm | Decreasedthisterm | Closingbalance |
| 1.Basicpensions | 11,644 | 71,000,361 | 70,995,998 | 16,007 |
| 2.Unemploymentinsurance | 78 | 2,416,663 | 2,416,073 | 668 |
| Total | 11,722 | 73,417,024 | 73,412,071 | 16,675 |
25.Taxpayable
Unit:RMB
| Item | Closingbalance | Openingbalance |
| Value-added-taxpayable | 63,220,964 | 77,539,743 |
| Corporateincometaxpayable | 63,421,971 | 81,469,865 |
| Individualincometaxpayable | 5,291,100 | 4,947,559 |
| Citymaintenanceandconstructiontax | 4,221,243 | 5,853,393 |
| Propertytax | 9,979,982 | 4,126,693 |
| Educationsurcharge | 3,232,672 | 4,662,534 |
| Environmentaltax | 1,308,540 | 1,674,797 |
| Others | 3,975,678 | 4,735,097 |
| Total | 154,652,150 | 185,009,681 |
26.Otherpayables
Unit:RMB
| Item | Closingbalance | Openingbalance |
| Interestpayable | 36,640,548 | 95,001,362 |
| Otherpayables | 185,226,388 | 194,439,115 |
| Total | 221,866,936 | 289,440,477 |
(1)Interestpayable
Unit:RMB
| Item | Closingbalance | Openingbalance |
| Interestonlong-termloanswithinterestpaidbyinstallmentsandprincipalrepaidatmaturity | 3,722,120 | 2,558,374 |
| Interestpayableforshort-termborrowings | 660,363 | 184,923 |
| Interestforcorporatebonds | 32,258,065 | 92,258,065 |
| Total | 36,640,548 | 95,001,362 |
(2)Otherpayables
1)Listingotherpayablesbynatureofthepayment
Unit:RMB
| Item | Closingbalance | Openingbalance |
| Guaranteedepositsreceivedfromconstructioncontractors | 101,021,553 | 101,467,608 |
| Accruedoperatingcostsandexpenses(i) | 39,421,751 | 51,592,989 |
| Payableforcontractedlabourcosts | 22,061,379 | 21,273,645 |
| Temporaryreceipts | 9,630,262 | 6,033,599 |
| Guaranteefordisabled | 6,727,370 | 5,796,364 |
| Others | 6,364,073 | 8,274,910 |
| Total | 185,226,388 | 194,439,115 |
(i)Thisitemmainlyincludesvariousexpensesincurredbutnotyetobtainedaninvoiceattheendoftheperiod,includingutilities,professionalservicefees,travelexpenses,etc.
27.Non-currentliabilitiesduewithinoneyear
Unit:RMB
| Item | Closingbalance | Openingbalance |
| Bondspayableduewithinoneyear | 1,997,931,024 | |
| Long-termborrowingsduewithin1year | 335,498,431 | 466,098,352 |
| Long-termpayablesduewithinoneyear | 37,830,760 | 36,865,104 |
| Leaseliabilitiesduewithinoneyear | 653,324 | 857,092 |
| Total | 2,371,913,539 | 503,820,548 |
28.Othercurrentliabilities
Unit:RMB
| Item | Closingbalance | Openingbalance |
| Outputtaxtobetransferred | 47,430,142 | 39,799,309 |
| Others | 300,000 | 300,000 |
| Total | 47,730,142 | 40,099,309 |
29.Long-termborrowings
(1)Classificationoflong-termborrowings
Unit:RMB
| Item | Closingbalance | Openingbalance |
| Guaranteed | 1,916,136,468 | 779,059,824 |
| Creditloan | 1,245,000,000 | 690,000,000 |
| Total | 3,161,136,468 | 1,469,059,824 |
Asat30June2022,theinterestoflong-termborrowingsvariedfrom2.95%-4.60%(31December2021:4%-4.6%).
30.Bondspayable
(1)Bondspayable
Unit:RMB
| Item | Closingbalance | Openingbalance |
| Bondspayable | 1,996,587,330 | |
| Total | 1,996,587,330 |
(2)Increaseordecreaseofbondspayable(excludingpreferredshares,perpetualbondsandotherfinancialinstrumentsclassifiedasfinancialliabilities)
Unit:RMB
| Name | Facevalue | Issuedate | Term | Amountofissue | Openingbalance | Issueintheperiod | Interestaccruedatfacevalue | Amortizationofpremiumanddiscount | Currentrepayment | Reclassifiedtonon-currentliabilitiesduewithinoneyear | Closingbalance |
| 20CSG01 | 100 | 2020-3-24to2020-3-25 | 3years | 2,000,000,000 | 1,996,587,330 | 60,000,000 | 1,343,694 | 1,997,931,024 |
InMarch2020,withtheapprovalofChinaSecuritiesRegulatoryCommission,thecompanywasapprovedtopubliclyissue2020corporatebonds(phaseI)toqualifiedinvestors,withafacevalueofRMB100,anissueamountofRMB2billion,atermof3years(annualinterestpaymentandprincipalrepaymentatmaturity),andacouponrateof6%;TheissuancedateisfromMarch24,2020toMarch25,2020,andthevaluedateisMarch25,2020.
31.Leaseliability
Unit:RMB
| Item | Closingbalance | Openingbalance |
| Leaseliability | 220,138 | |
| Total | 220,138 |
32.Long-termpayables
Unit:RMB
| Item | Closingbalance | Openingbalance |
| Long-termpayables | 149,062,955 | 168,258,062 |
| Total | 149,062,955 | 168,258,062 |
（1）Long-termpayablesbynatureofpayment
Unit:RMB
| Item | Closingbalance | Openingbalance |
| Financeleasepayable | 149,062,955 | 168,258,062 |
33.Deferredincome
Unit:RMB
| Item | Openingbalance | Increaseincurrentperiod | decreaseincurrentperiod | Closingbalance |
| Governmentgrants | 564,129,128 | 3,000,000 | 71,815,510 | 495,313,618 |
| Total | 564,129,128 | 3,000,000 | 71,815,510 | 495,313,618 |
Projectsinvolvinggovernmentsubsidies:
Unit:RMB
| Itemindebt | Openingbalance | Increaseincurrentperiod | Accounttootherincomeinthisperiod | Closingbalance | Relatedtoassetsorincome |
| TianjinCSGGoldenSunProject(i) | 40,217,551 | 1,687,446 | 38,530,105 | Assetsrelated | |
| DongguanCSGGoldenSunProject(ii) | 32,324,250 | 1,375,500 | 30,948,750 | Assetsrelated | |
| HebeiCSGGoldenSunProject(iii) | 33,000,000 | 1,375,000 | 31,625,000 | Assetsrelated | |
| XianningCSGGoldenSunProject(iv) | 35,860,917 | 1,515,250 | 34,345,667 | Assetsrelated |
| Itemindebt | Openingbalance | Increaseincurrentperiod | Accounttootherincomeinthisperiod | Closingbalance | Relatedtoassetsorincome |
| InfrastructurecompensationforWujiangCSGGlassCo.,Ltd(v) | 23,462,746 | 2,020,769 | 21,441,977 | Assetsrelated | |
| QingyuanEnergy-savingproject(vi) | 10,909,167 | 1,235,000 | 9,674,167 | Assetsrelated | |
| YichangSiliconproductsproject(vii) | 10,546,875 | 1,406,250 | 9,140,625 | Assetsrelated | |
| YichangCSGsiliconsliceauxiliaryproject(viii) | 19,100,966 | 2,500,000 | 991,272 | 20,609,694 | Assetsrelated |
| Sichuanenergy-savingglassproject(ix) | 3,859,380 | 827,010 | 3,032,370 | Assetsrelated | |
| Groupcoatingfilmexperimentalproject(x) | 1,500,000 | 187,500 | 1,312,500 | Assetsrelated | |
| Yichanghighpuritysiliconmaterialproject(xi) | 2,417,619 | 151,589 | 2,266,030 | Assetsrelated | |
| Yichangsemiconductorsiliconmaterialproject(xii) | 2,866,666 | 66,667 | 2,799,999 | Assetsrelated | |
| YichangCSGDisplayproject(xiii) | 40,565,357 | 1,333,906 | 39,231,451 | Assetsrelated | |
| XianningPhotoelectricproject(xiv) | 6,240,000 | 134,162 | 6,105,838 | Assetsrelated | |
| Shenzhenmedicalequipmentsubsidyproject(xv) | 7,178,000 | 582,000 | 6,596,000 | Assetsrelated | |
| Hebeifloatemissionreward(xvi) | 9,355,414 | 366,879 | 8,988,535 | Assetsrelated | |
| Grouptalentfundproject(xvi) | 171,000,000 | 171,000,000 | Incomerelated | ||
| Zhaoqingenergysavingindustrysupportfundproject(xvii) | 87,255,711 | 54,579,905 | 32,675,806 | Incomerelated | |
| Others | 26,468,509 | 500,000 | 1,979,405 | 24,989,104 | Assetsrelated |
| Total | 564,129,128 | 3,000,000 | 71,815,510 | 495,313,618 |
(i)TheallowancewasgrantedbyTianjinMunicipalGovernment.TheallowancewasusedforestablishingPVpowerstationbyTianjinEnergyConservationCompany.ThefacilitiesbelongedtoTianjinEnergyConservationCompany.Theallowancewillbecreditedtoincomestatementin20years,theusefullifeofthePVpowerstation.(ii)TheallowancewasgrantedbyDongguanMunicipalGovernment.TheallowancewasusedforestablishingPVpowerstationbyDongguanCSGArchitecturalGlassCo.,Ltd.ThefacilitiesbelongedtoDongguanCSGuponcompletion.Theallowancewillbecreditedtoincomestatementin20years,theusefullifeofthePVpowerstation.
(iii)TheallowancewasgrantedbyLangfangMunicipalGovernment.TheallowancewasusedforestablishingPVpowerstationbyHebeiCSGGlassCo.,Ltd.("HebeiCSG").Whenthefacilitiesweresetup,theybelongedtoHebeiCSG.Theallowancewillbecreditedtoincomestatementin20years,theusefullifeofthePVpowerstation.(iv)TheallowancewasgrantedbyXianningMunicipalGovernment.TheallowancewasusedforestablishingPVpowerstationbyXianningCSGGlassCoLtd.ThefacilitiesbelongedtoXianningCSGuponcompletion.Theallowancewillbecreditedtoincomestatementin20years,theusefullifeofthePVpowerstation.(v)TheallowancewasinfrastructurecompensationgrantedbyWujiangmunicipalgovernment,andwillbecreditedtoincomestatementin15years,theshortestoperatingperiodascommittedbytheGroup.(vi)TheallowancewasgrantedbyGuangdongProvinceandwhichwasapilotprojectforstrategicemergingindustryclustersdevelopmentandwasusedtoestablishhighperformanceultra-thinelectronicglassproductionlinesbyQingyuanCSG.Theallowancewillbecreditedtoincomestatementin10years,theusefullifeoftheproductionline.(vii)ThebalancerepresentedamountsgrantedtoYiChangCSGpolysiliconMaterialsCo.,Ltd.byYichangCityDongshanDevelopmentCorporationundertheprovisionsoftheinvestmentcontractsignedbetweentheGroupandtheMunicipalGovernmentofYiChang.Theproceedsweredesignedfortheconstructionofelectricitytransformerandthepipelines.Yichangpolysiliconisentitledtotheownershipofthefacilities,whichwillbeamortisedby16yearsaccordingtotheusefullifeoftheconvertingstation.(viii)ItrepresentedthegovernmentsupportingfundobtainedbyYichangpolysiliconfromtheacquiringoftheassetsandliabilitiesofCrucibleprojectofYichangHejingPhotoelectricCeramicCo.,Ltd.Theproceedswouldbeamortisedandcreditedtoincomestatementby16yearsafterrelatedassetswereputintouse.(ix)ItrepresentedthefundsgrantedbyChengdulocalgovernmentforenergyglassproject.Itwillbeamortisedandcreditedtoincomestatementin15years,inaccordancewiththeminimumoperatingperiodcommittedbytheGroup.(x)TheallowancewasgrantedbyShenzhenCityDevelopmentandReformCommissionforthedevelopmentofGroupCoatingFilmexperimentalproject.Thegrantwillbeamortisedandcreditedtoincomestatementintheestimatedusefullifeoftherelevantfixedassets.(xi)ItrepresentedthefundsgrantedbyHubeilocalgovernmentforinportdiscountcomplementandinternationalcorporationspecialsubsidy.Thegrantwillbeamortisedandcreditedtoincomestatementby12to15years.(xii)ItrepresentedthespecialsubsidyofYichangNationalRegionalStrategicEmergingIndustryDevelopmentPilotProjectII,whichisusedtocomplementYichangCSGPolysSilicon“Hubeisemiconductorsiliconpreparativetechniqueprojectlaboratory”.Thegrantwillbeamortisedandcreditedtoincomestatementby15years.(xiii)ItrepresentedthefundsgrantedbyYichangMunicipalGovernmentforYichangCSGDisplayCompany'sflatprojectconstructionsupportfundsandconstructionofcoilcoatingthree-lineproject.Thegrantwillbeamortisedandcreditedtoincomestatementby15years.(xiv)ItrepresentedthefundsgrantedbyXianningGovernmentoftheProjectsupportingfundforphotoconductiveglassproductionline,whichisusedtopayforXianningCSGGlassCo.Ltd.constructingtheprojectofphotoelectricphotoelectricopticalglassproductionline.Afterthecompletionoftheproductionline,theownershipbelongstoXianningphotoelectric.Theallowancewillbecreditedtoincomestatementin8years,theusefullifeoftheproductionline.(xv)TheallowancewasgrantedbyShenzhenMunicipalGovernment.TheallowancewasusedfortheproductionlineofepidemicpreventionmaterialsforShenzhenCSGMedicalTechnologyCo.,Ltd.ThefacilitiesbelongedtoShenzhenCSGMedicalTechnologyCo.,Ltduponcompletion.Theallowancewillbecreditedtoincomestatementwiththeusefullifeoftheproductionline.(xvi)TheallowancewasgrantedbyAdministrativeCommissionofYongqingCountyEcologicalEnvironmentBureau.andHebeiCSG.isusedtoproducelinedropemissiontransformation,andthegrantwillbeamortisedandcreditedtoincomestatementintheresiduallifeoftherelevantfixedassets.(xvii)TheallowancewasgrantedbyAdministrativeCommissionofYichangHigh-techIndustrialDevelopmentZone.Forseniormanagementpersonnel,engineeringtechnicalpersonnelandseniorprofessionaltechnicalteamwhoareworkingatYichangorplanetointroduction,RMB171millionfundwassetup,asaspecialfundfortalentintroductionandhousingresettlement.
(xviii)TheallowancewasgrantedbyAdministrativeCommissionofGuangdongProvincialDepartmentofFinanceisaprovincialindustrytojointlyestablishfinancialsupportfundswhichisusedtoZthedevelopmentofenterprises,productionandoperation,andotherexpenditureforZhaoqingEnergySavingCompany.
34.ShareCapital
Unit:RMB
| Item | Openingbalance | Changedinthereportperiod(+,-) | Closingbalance | ||||
| Newissues | Bonusissue | Transferredfromreserves | Others | Sub-total | |||
| Totalofcapitalshares | 3,070,692,107 | 3,070,692,107 | |||||
35.Capitalsurplus
Unit:RMB
| Item | Openingbalance | Increasedthisterm | Decreasedthisterm | Closingbalance |
| Capitalpremium(sharepremium) | 655,424,260 | 655,424,260 | ||
| Othercapitalsurplus | -58,427,175 | -58,427,175 | ||
| Total | 596,997,085 | 596,997,085 |
36.Othercomprehensiveincome
Unit:RMB
| Item | Openingbalance | Occurringincurrentperiod | Closingbalance | |||
| Amountincurredbeforeincometax | Less:incometaxexpense | After-taxattributetotheparentcompany | After-taxattributetominorityshareholder | |||
| I.Othercomprehensiveincomeitemswhichcannotbereclassifiedtoprofitorloss | ||||||
| II.Othercomprehensiveincomeitemswhichwillbereclassifiedtoprofitorloss | 159,200,530 | 6,167,540 | 6,167,540 | 165,368,070 | ||
| Differencesontranslationof | -4,501,267 | 6,167,540 | 6,167,540 | 1,666,273 | ||
| foreigncurrencyfinancialstatements | ||||||
| Financeincentivesforenergyandtechnicaltransformation | 2,550,000 | 2,550,000 | ||||
| Incomefromconversionofselfuserealestateandlanduserightintoinvestmentrealestate | 161,151,797 | 161,151,797 | ||||
| Totalofothercomprehensiveincome | 159,200,530 | 6,167,540 | 6,167,540 | 165,368,070 |
37.Specialreserves
Unit:RMB
| Item | Openingbalance | Increasedthisterm | Decreasedthisterm | Closingbalance |
| Safetyproductioncost | 7,296,397 | 4,853,948 | 10,297,642 | 1,852,703 |
| Total | 7,296,397 | 4,853,948 | 10,297,642 | 1,852,703 |
38.Surplusreserves
Unit:RMB
| Item | Beginningofterm | Increasedthisterm | Decreasedthisterm | Endofterm |
| Statutorysurplusreserve | 1,017,034,942 | 1,017,034,942 | ||
| Discretionarysurplusreserve | 127,852,568 | 127,852,568 | ||
| Total | 1,144,887,510 | 1,144,887,510 |
39.Undistributedprofits
Unit:RMB
| Item | Thecurrentperiod | Thesameperiodoflastyear |
| Retainedearningsattheendoftheprevioustermbeforeadjustment | 6,450,587,417 | 5,336,266,412 |
| Retainedearningsatthebeginningofthistermafteradjustment | 6,450,587,417 | 5,336,266,412 |
| Add:netprofitsbelongingtoequityholdersoftheCompany | 1,001,174,398 | 1,352,517,465 |
| Less:Commonstockdividendspayable | 614,138,421 | 307,069,211 |
| Retainedearningsintheend | 6,837,623,394 | 6,381,714,666 |
40.Revenueandcostofsales
Unit:RMB
| Item | Occurredincurrentterm | Occurredinpreviousterm | ||
| Revenue | Cost | Revenue | Cost | |
| Revenuefrommainoperations | 6,421,792,209 | 4,599,587,540 | 6,549,257,796 | 4,117,364,759 |
| Revenuefromotheroperations | 97,424,467 | 38,058,387 | 65,544,742 | 9,262,386 |
| Total | 6,519,216,676 | 4,637,645,927 | 6,614,802,538 | 4,126,627,145 |
41.Taxandsurcharge
Unit:RMB
| Item | Occurredincurrentterm | Occurredinpreviousterm |
| Citymaintenanceandconstructiontax | 15,694,124 | 20,244,886 |
| Educationalsurcharge | 13,036,606 | 17,918,346 |
| Housingpropertytax | 17,222,873 | 16,177,724 |
| Landuserights | 8,675,097 | 11,475,052 |
| Stamptax | 3,840,095 | 3,873,467 |
| Environmentalprotectiontax | 2,206,638 | 3,569,685 |
| Others | 605,189 | 706,894 |
| Total | 61,280,622 | 73,966,054 |
42.Salesexpenses
Unit:RMB
| Item | Occurredincurrentterm | Occurredinpreviousterm |
| Freightexpenses | 2,557,634 | 5,430,828 |
| Employeebenefits | 92,473,703 | 82,609,837 |
| Entertainmentexpenses | 5,362,131 | 10,768,857 |
| Businesstravelexpenses | 2,856,337 | 4,144,027 |
| Vehicleusefee | 4,488,510 | 3,994,805 |
| Rentalexpenses | 4,437,109 | 3,608,518 |
| Depreciationexpenses | 396,591 | 386,840 |
| Insurancepremium | 8,951,501 | 1,943,539 |
| Others | 12,383,136 | 12,438,764 |
| Total | 133,906,652 | 125,326,015 |
43.Administrativeexpenses
Unit:RMB
| Item | Occurredincurrentterm | Occurredinpreviousterm |
| Employeebenefits | 194,016,411 | 205,775,425 |
| Depreciationexpenses | 29,261,329 | 30,558,014 |
| Amortizationofintangibleassets | 31,408,498 | 31,383,145 |
| Generalofficeexpenses | 13,393,317 | 14,283,686 |
| Labourunionfunds | 9,792,599 | 9,143,124 |
| Entertainmentfees | 8,507,539 | 8,583,533 |
| Businesstravelexpenses | 2,194,600 | 3,293,171 |
| Utilityfees | 2,955,260 | 2,661,302 |
| Canteenfee | 4,624,155 | 3,737,420 |
| Vehicleusefee | 3,213,151 | 2,818,991 |
| Consultingadvisers | 3,470,195 | 7,243,698 |
| Others | 15,798,758 | 35,433,195 |
| Total | 318,635,812 | 354,914,704 |
44.Researchanddevelopmentexpenses
Unit:RMB
| Item | Occurredincurrentterm | Occurredinpreviousterm |
| Researchanddevelopmentexpenses | 265,877,930 | 224,886,882 |
| Total | 265,877,930 | 224,886,882 |
45.Financeexpenses
Unit:RMB
| Item | Occurredincurrentterm | Occurredinpreviousterm |
| Interestonborrowings | 118,724,723 | 103,386,761 |
| Less:Capitalisedinterest | 26,740,119 | 1,416,342 |
| Interestexpenses | 91,984,604 | 101,970,419 |
| Less:Interestincome | 30,756,704 | 20,024,847 |
| Exchangelosses | -210,284 | 3,871,530 |
| Others | 1,779,736 | 1,182,897 |
| Total | 62,797,352 | 86,999,999 |
46.Otherincome
Unit:RMB
| Sourceofothergains | Occurredincurrentterm | Occurredinpreviousterm |
| Governmentsubsidyamortization | 71,815,510 | 16,158,100 |
| Industrysupportfunds | 1,500,000 | 1,782,700 |
| Governmentincentivefunds | 17,203,284 | 11,750,470 |
| Researchgrants | 2,196,600 | 2,129,180 |
| Others | 6,587,158 | 4,733,354 |
| Total | 99,302,552 | 36,553,804 |
47.Investmentincome
Unit:RMB
| Item | Occurredincurrentterm | Occurredinpreviousterm |
| Structuraldepositincome | 14,478,503 | 3,075,863 |
| Fixeddepositincome | 1,935,192 | 596,467 |
| Total | 16,413,695 | 3,672,330 |
48.Creditimpairmentlosses
Unit:RMB
| Item | Occurredincurrentterm | Occurredinpreviousterm |
| Lossesonbaddebtsofotherreceivables | -396,253 | -110,593 |
| Lossesonbaddebtsofaccountsreceivable | -1,095,969 | -2,413,455 |
| Total | -1,492,222 | -2,524,048 |
49.Assetimpairmentlosses
Unit:RMB
| Item | Occurredincurrentterm | Occurredinpreviousterm |
| 1.Declineinthevalueofinventories | 1,456 | |
| 2.Impairmentlossoffixedassets | -26,753,082 | |
| Total | 1,456 | -26,753,082 |
50.Assetdisposalincome
Unit:RMB
| Sourceofincomefromassetsdisposal | Occurredincurrentterm | Occurredinpreviousterm |
| Gainsandlossesondisposalofnoncurrentassets | 12,745,461 | 137,638 |
| Total | 12,745,461 | 137,638 |
51.Non-operatingincome
Unit:RMB
| Item | Occurredincurrentterm | Occurredinpreviousterm | Amountofnon-recurringgainandlossincludedinthereportperiod |
| Compensationincome | 45,951 | 2,504,317 | 45,951 |
| Amountsunabletopay | 3,861,020 | 2,998,725 | 3,861,020 |
| Insuranceclaim | 9,040,000 | 525,484 | 9,040,000 |
| Others | 2,186,007 | 1,523,272 | 2,186,007 |
| Total | 15,132,978 | 7,551,798 | 15,132,978 |
52.Non-operatingexpenses
Unit:RMB
| Item | Occurredincurrentterm | Occurredinpreviousterm | Amountofnon-recurringgainandlossincludedinthereportperiod |
| Donationexpenditure | 1,731,127 | 265,306 | 1,731,127 |
| Compensation | 599,074 | 599,074 | |
| Financialaidrefund | 74,583 | 15,028,336 | 74,583 |
| Others | 1,255,286 | 1,168,343 | 1,255,286 |
| Total | 3,660,070 | 16,461,985 | 3,660,070 |
53.Incometaxexpenses
(1)Listofincometaxexpenses
Unit:RMB
| Item | Occurredincurrentterm | Occurredinpreviousterm |
| Currentincometaxexpenses | 103,724,527 | 260,737,212 |
| Deferredincometaxexpenses | 65,200,997 | -5,456,922 |
| Total | 168,925,524 | 255,280,290 |
(2)Adjustmentprocessofaccountingprofitandincometaxexpense
Unit:RMB
| Item | Occurredincurrentterm |
| Totalprofit | 1,177,516,231 |
| Currentincometaxexpenseaccountedbytaxandrelevantregulations | 181,726,624 |
| Adjustingtheeffectofpriorperiodincometax | -3,872,718 |
| Impactofnon-deductiblecosts,expensesandlosses | 851,340 |
| Impactontheuseofdeductiblelossofdeferredincometaxassetsnotrecognizedinpreviousperiod | -5,210,915 |
| Influencedeductiblelossesofunrecognizeddeferredincometaxassets | 129,547 |
| Impactoftaxincentives | -4,698,354 |
| Incometaxexpenses | 168,925,524 |
54.Othercomprehensiveincome
Seethenotefordetails.
55.Itemsofthecashflowstatement
(1)Cashreceivedrelatingtootheroperatingactivities
Unit:RMB
| Item | Occurredincurrentterm | Occurredinpreviousterm |
| Interestincome | 30,756,704 | 20,024,847 |
| Governmentgrant | 30,487,042 | 113,114,204 |
| Others | 25,992,822 | 45,686,124 |
| Total | 87,236,568 | 178,825,175 |
(2)Cashpaidrelatingtootheroperatingactivities
Unit:RMB
| Item | Occurredincurrentterm | Occurredinpreviousterm |
| Freightexpenses | 3,928,266 | 7,337,545 |
| Generalofficeexpenses | 19,162,389 | 21,928,236 |
| Businesstravelexpenses | 7,379,731 | 9,925,103 |
| Entertainmentfees | 16,277,475 | 20,105,592 |
| Vehicleusefee | 8,129,592 | 6,874,692 |
| Maintenancefee | 13,668,199 | 10,878,076 |
| Rentalexpenses | 10,391,291 | 11,665,203 |
| Insurance | 22,824,587 | 7,889,601 |
| Commission | 1,610,434 | 1,182,897 |
| Consultingfees | 6,193,327 | 5,050,890 |
| Others | 94,303,923 | 143,938,799 |
| Total | 203,869,214 | 246,776,634 |
(3)Othercashreceivedrelatedtoinvestmentactivities
Unit:RMB
| Item | Occurredincurrentterm | Occurredinpreviousterm |
| Deposit | 26,124,986 | |
| Incomefromtrialproductionofconstructioninprogress | 6,011,365 | |
| Total | 32,136,351 |
(4)Othercashpaidrelatedtoinvestmentactivities
Unit:RMB
| Item | Occurredincurrentterm | Occurredinpreviousterm |
| Trialproductionexpenditureinconstruction | 6,911,853 | |
| InvestmentDepositandMargin | 19,138,102 | |
| Total | 19,138,102 | 6,911,853 |
(5)Othercashreceivedrelatedtofinancingactivities
Unit:RMB
| Item | Occurredincurrentterm | Occurredinpreviousterm |
| CollectionofA/Bsharetax | 206,753 | |
| Total | 206,753 |
(6)Othercashpaidrelatedtofinancingactivities
Unit:RMB
| Item | Occurredincurrentterm | Occurredinpreviousterm |
| Repayfinancingleases | 23,022,757 | |
| WithholdingtaxonA/Bshares,etc. | 1,142,255 | 390,507 |
| Total | 24,165,012 | 390,507 |
56.Supplementinformationtothecashflowstatement
(1)Supplementinformationtothecashflowstatement
Unit:RMB
| SupplementaryInfo. | Amountofthisterm | Amountoflastterm |
| 1.Reconciliationfromnetprofittocashflowsfromoperatingactivities | ||
| Netprofit | 1,008,590,707 | 1,368,977,904 |
| Add:Provisionsforassetsimpairment | -1,456 | 26,753,082 |
| Creditimpairmentloss | 1,492,222 | 2,524,048 |
| Depreciationoffixedassets,depletionofoilandgasassets,depreciationofproductivebiologicalassets | 435,495,584 | 448,555,136 |
| Depreciationofright-of-useassets | 877,303 | 471,792 |
| Amortizationofintangibleassets | 31,408,498 | 31,383,145 |
| Amortizationoflong-termprepaidexpenses | 289,845 | 163,410 |
| Lossesondisposaloffixedassetsintangibleassetsandotherlong-termassets(“-“forgains) | -12,745,461 | -137,638 |
| Financeexpenses(“-“forgains) | 91,984,604 | 101,970,419 |
| Investmentloss(“-“forgains) | -16,413,695 | -3,672,330 |
| Decreaseindeferredincometaxassets(“-“forincrease) | 58,524,476 | -8,575,782 |
| Increaseofdeferredincometaxliability(“-“fordecrease) | 6,676,521 | 3,118,860 |
| Decreaseofinventory(“-“forincrease) | -668,865,872 | -236,251,630 |
| Decreaseofoperationalreceivableitems(“-“forincrease) | -544,965,419 | -260,405,962 |
| Increaseofoperationalpayableitems(“-“fordecrease) | 505,601,316 | 224,537,331 |
| Others | 4,853,948 | -1,166,410 |
| Netcashflowgeneratedbybusinessoperation | 902,803,121 | 1,698,245,375 |
| 2.Netchangeofcashandcashequivalents | ||
| Balanceofcashattheendoftheperiod | 2,863,965,769 | 1,647,672,831 |
| Less:Initialbalanceofcash | 2,756,477,572 | 2,124,028,196 |
| Netincreasingofcashandcashequivalents | 107,488,197 | -476,355,365 |
(2)Formationofcashandcashequivalents
Unit:RMB
| Item | Closingbalance | Openingbalance |
| I.Cash | 2,863,965,769 | 2,756,477,572 |
| Incl:Cashonhand | 130 | |
| Bankdepositsthatcanbereadilydrawnondemand | 2,523,965,640 | 2,453,477,573 |
| Othercashbalancesthatcanbereadilydrawnondemand | 339,999,999 | 302,999,999 |
| II.Balanceofcashandcashequivalentsattheendoftheperiod | 2,863,965,769 | 2,756,477,572 |
57.Assetswithrestrictedownershiporuserights
Unit:RMB
| Item | Endingbookvalue | Reasonforrestriction |
| Monetaryassets | 6,076,772 | Circulationofmargin,etc.isrestricted |
| Fixedassets | 148,986,093 | Financialleasingisrestricted |
| Total | 155,062,865 |
58.Foreigncurrencymonetaryitems
(1)Foreigncurrencymonetaryitems
Unit:RMB
| Item | Closingbalanceofforeigncurrency | Exchangerate | ClosingbalanceconverttoRMB |
| Cashatbankandonhand | 56,375,983 | ||
| Incl：USD | 6,088,330 | 6.7114 | 40,861,221 |
| EUR | 890,687 | 7.0084 | 6,242,290 |
| HKD | 10,827,830 | 0.8552 | 9,259,960 |
| AUD | 797 | 4.6145 | 3,680 |
| JPY | 16,395 | 0.0491 | 805 |
| SGD | 1,666 | 4.8170 | 8,027 |
| Accountsreceivable | 72,743,784 | ||
| Incl：USD | 9,720,348 | 6.7114 | 65,237,143 |
| EUR | 834,785 | 7.0084 | 5,850,510 |
| HKD | 1,936,542 | 0.8552 | 1,656,131 |
| Accountspayable | 38,601,456 | ||
| Incl：USD | 5,422,812 | 6.7114 | 36,394,660 |
| EUR | 188,656 | 7.0084 | 1,322,176 |
| HKD | 736,623 | 0.8552 | 629,960 |
| JPY | 3,363,707 | 0.0491 | 165,158 |
| Item | Closingbalanceofforeigncurrency | Exchangerate | ClosingbalanceconverttoRMB |
| GBP | 11,000 | 8.1365 | 89,502 |
59.Governmentsubsidy
(1)Basicsituationofgovernmentsubsidies
Unit:RMB
| Type | Amount | Presentationitem | Amountincludedincurrentprofitandloss |
| Governmentsubsidyamortization | 71,815,510 | Otherincome | 71,815,510 |
| Othergovernmentsubsidies | 27,487,042 | Otherincome | 27,487,042 |
(2)Returnofgovernmentsubsidies
√Applicable□Notapplicable
Unit:RMB
| Item | Amount | Reason |
| Shenzhenfloathigh-strengthultra-thinglassindustrializationresearchproject | 74,583 |
VIII.Thechangesofconsolidationscope
1.ChangesinscopeofconsolidationforotherreasonsOnFebruary14,2022,theGroupsetupasubsidiary,YichangCSGNewEnergyMaterialTechnologyCo.,Ltd.(hereinafterreferredtoas"YichangNewEnergyMaterialsCo.,Ltd").AsofJune30,2022,theGrouphadmadeamonetarycontributionofRMB1million.IX.Equityinotherentities
1.Equityinsubsidiary
(1)CompositionoftheGroup
| Nameofsubsidiary | Majorbusinesslocation | Placeofregistration | Scopeofbusiness | Shareholding(%) | Wayofacquisition | |
| Direct | Indirect | |||||
| ChengduCSG | Chengdu,PRC | Chengdu,PRC | Development,productionandsalesof | 75% | 25% | Establishment |
| specialglass | ||||||
| SichuanCSGEnergyConservation | Chengdu,PRC | Chengdu,PRC | Development,productionandsalesofspecialglassandprocessingofglass | 75% | 25% | Split-off |
| TianjinEnergyConservation | Tianjin,PRC | Tianjin,PRC | Development,productionandsalesofspecialglass | 75% | 25% | Establishment |
| DongguanCSGEngineering | Dongguan,PRC | Dongguan,PRC | Intensiveprocessingofglass | 75% | 25% | Establishment |
| DongguanCSGSolar | Dongguan,PRC | Dongguan,PRC | Productionandsalesofsolarglass | 75% | 25% | Establishment |
| DongguanCSGPV-tech | Dongguan,PRC | Dongguan,PRC | Productionandsalesofhi-techgreenbatteryandcomponents | 100% | Establishment | |
| YichangCSGPolysilicon | Yichang,PRC | Yichang,PRC | Productionandsalesofhigh-puritysiliconmaterials | 75% | 25% | Establishment |
| WujiangCSGEngineering | Wujiang,PRC | Wujiang,PRC | Intensiveprocessingofglass | 75% | 25% | Establishment |
| HebeiCSG | Yongqing,PRC | Yongqing,PRC | Productionandsalesofspecialglass | 75% | 25% | Establishment |
| WujiangCSG | Wujiang,PRC | Wujiang,PRC | Productionandsalesofspecialglass | 100% | Establishment | |
| ChinaSouthernGlass(HongKong) | HongKong,PRC | HongKong,PRC | Investmentholding | 100% | Establishment | |
| XianningCSG | Xianning,PRC | Xianning,PRC | Productionandsalesofspecialglass | 75% | 25% | Establishment |
| XianningCSGEnergy-Saving | Xianning,PRC | Xianning,PRC | Intensiveprocessingofglass | 75% | 25% | Split-off |
| QingyuanCSGEnergy-Saving | Qingyuan,PRC | Qingyuan,PRC | Productionandsalesofultra-thinelectronicglass | 100% | Establishment | |
| ShenzhenCSGFinancialLeasingCo.,Ltd. | Shenzhen,PRC | Shenzhen,PRC | Financeleasing,etc. | 75% | 25% | Establishment |
| JiangyouCSGMiningDevelopmentCo.,Ltd. | Jiangyou,PRC | Jiangyou,PRC | Productionandsalesofsilicaanditsby-products | 100% | Establishment | |
| ShenzhenCSGDisplay | Shenzhen,PRC | Shenzhen,PRC | Productionandsalesofdisplaycomponentproducts | 60.8% | Acquisition | |
| ZhaoqingEnergy-SavingGlass | Zhaoqing,PRC | Zhaoqing,PRC | Productionandsalesofspecialglass | 100% | Establishment | |
| ZhaoqingAutomobileGlass | Zhaoqing,PRC | Zhaoqing,PRC | Productionandsalesofspecialglass | 100% | Establishment | |
| AnhuiCSGNewEnergyMaterials | Fengyang,PRC | Fengyang,PRC | Develop,manufactureandsellkeymaterialsorcompletesetsofequipmentfornewenergypowergeneration | 100% | Establishment |
| AnhuiCSGNewQuartzmaterial | Fengyang,PRC | Fengyang,PRC | Quartzitemining,processing,purification,sales | 100% | Establishment | |
| AnhuiMining | Fengyang,PRC | Fengyang,PRC | Miningofmineralresources | 60% | Establishment | |
| Xi'anEnergy-saving | Xi'an,PRC | Xi'an,PRC | Productionandsalesofspecialglass | 55% | 45% | Establishment |
| GuangxinewenergymaterialsCo.,Ltd | Longgang,,PRC | Longgang,,PRC | Productionandsalesofspecialglass | 75% | 25% | Establishment |
(2)Importantnon-whollyownedsubsidiary
Unit:RMB
| Subsidiaries | Shareholdingofminorityshareholders | Totalprofitorlossattributabletominorityshareholdersfortheyearended30June2022 | Dividendsdistributedtominorityinterestsfortheyearended30June2022 | Minorityinterestasat30June2022 |
| ShenzhenCSGDisplay | 39.2% | 6,859,691 | 411,269,177 |
(3)Majorfinancialinformationofimportantnon-whollyownedsubsidiaries
Unit:RMB
| NameofSubsidiary | Closingbalance | |||||
| Currentassets | Non-currentassets | Totalassets | Currentliabilities | Non-currentliabilities | Totalliabilities | |
| ShenzhenCSGDisplay | 303,462,273 | 1,348,133,307 | 1,651,595,580 | 464,018,122 | 82,380,830 | 546,398,952 |
| Openingbalance | ||||||
| Currentassets | Non-currentassets | Totalassets | Currentliabilities | Non-currentliabilities | Totalliabilities | |
| 210,979,056 | 1,378,748,179 | 1,589,727,235 | 448,244,735 | 54,572,497 | 502,817,232 | |
Unit:RMB
| NameofSubsidiary | Occurredincurrentterm | Occurredinpreviousterm | ||||||
| Revenue | Netprofit | Totalcomprehensiveincome | Cashflowsfromoperatingactivities | Revenue | Netprofit | Totalcomprehensiveincome | Cashflowsfromoperatingactivities | |
| ShenzhenCSGDisplay | 276,320,544 | 21,191,648 | 21,191,648 | 20,948,584 | 378,092,939 | 46,313,955 | 46,313,955 | 57,269,209 |
X.Riskrelatedtofinancialinstrument
TheGroup'sactivitiesexposeittoavarietyoffinancialrisks:marketrisk(primarilycurrencyriskandinterestraterisk),creditriskandliquidityrisk.TheGroup'soverallriskmanagementprogrammefocusesontheunpredictabilityoffinancialmarketsandseekstominimisepotentialadverseeffectsontheGroup'sfinancialperformance.
(1)Marketrisk(a)ForeignexchangeriskTheGroup’smajoroperationalactivitiesarecarriedoutinMainlandChinaandamajorityofthetransactionsaredenominatedinRMB.However,someoftheexportbusinessissettledinforeigncurrency.Besides,theGroupisexposedtoforeignexchangeriskarisingfromtherecognizedassetsandliabilities,andfuturetransactionsdenominatedinforeigncurrencies,primarilywithrespecttoUSdollarsandHKD.TheGroupmonitorsthescaleofforeigncurrencytransactions,foreigncurrencyassetsandliabilities,andadjustssettlementcurrencyofexportbusiness,tofurthestreducethecurrencyrisk.Asat30June2022,thecarryingamountsinRMBequivalentoftheGroup’sassetsandliabilitiesdenominatedinforeigncurrenciesaresummarizedbelow:
| 30June2022 | ||||
| USD | HKD | Others | Total | |
| Financialassetsdenominatedinforeigncurrency | ||||
| Cashatbankandonhand | 40,861,221 | 9,259,960 | 6,254,802 | 56,375,983 |
| Receivables | 65,237,143 | 1,656,131 | 5,850,510 | 72,743,784 |
| Total | 106,098,364 | 10,916,091 | 12,105,312 | 129,119,767 |
| Financialliabilitiesdenominatedinforeigncurrency | ||||
| Payables | 36,394,660 | 629,960 | 1,576,836 | 38,601,456 |
| Total | 36,394,660 | 629,960 | 1,576,836 | 38,601,456 |
31December2021
| 31December2021 | ||||
| USD | HKD | Others | Total | |
| Financialassetsdenominatedinforeigncurrency | ||||
| Cashatbankandonhand | 26,509,188 | 2,379,817 | 115,374 | 29,004,379 |
| Receivables | 111,133,429 | 1,732,573 | 6,026,900 | 118,892,902 |
| Total | 137,642,617 | 4,112,390 | 6,142,274 | 147,897,281 |
| Financialliabilitiesdenominatedinforeigncurrency | ||||
| Payables | 40,306,973 | 201,921 | 2,416,770 | 42,925,664 |
| Total | 40,306,973 | 201,921 | 2,416,770 | 42,925,664 |
Asat30June2022,ifthecurrencyhadstrengthened/weakenedby10%againsttheUSDwhileallothervariableshadbeenheldconstant,theGroup’snetprofitfortheyearwouldhavebeenapproximatelyRMB5,924,815lower/higher(31December2021:approximatelyRMB8,273,530lower/higher)forvariousfinancialassetsandliabilitiesdenominatedinUSD.
OtherchangesinexchangeratehadnosignificantinfluenceontheGroup'soperatingactivities.(b)InterestrateriskTheGroup'sinterestrateriskarisesfromlong-terminterestbearingborrowingsincludinglong-termborrowingsandbondspayable.FinancialliabilitiesissuedatfloatingratesexposetheGrouptocashflowinterestraterisk.FinancialliabilitiesissuedatfixedratesexposetheGrouptofairvalueinterestraterisk.TheGroupdeterminestherelativeproportionsofitsfixedrateandfloatingratecontractsdependingontheprevailingmarketconditions.Asat30June2022,theGroup’slong-terminterest-bearingdebtatvariableratesandfixedratesasillustratedbelow:
| Type | 30June2022 | 31December2021 |
| Debtatfixedrates | 789,569,526 | 2,404,372,257 |
| Debtatvariablerates | 2,371,566,942 | 1,061,274,897 |
| Total | 3,161,136,468 | 3,465,647,154 |
TheGroupcontinuouslymonitorstheinterestratepositionoftheGroup.IncreasesininterestrateswillincreasethecostofnewborrowingandtheinterestexpenseswithrespecttotheGroup’soutstandingfloatingrateborrowings,andthereforecouldhaveamaterialadverseeffectontheGroup’sfinancialposition.TheGroupmakesadjustmentstimelywithreferencetothelatestmarketconditions,whichincludesincreasing/decreasinglong-termfixedratedebtsattheanticipationofincreasing/decreasinginterestrate.
(2)CreditriskCreditriskismanagedonthegroupingbasis.Creditriskmainlyarisesfromcashatbank,notesreceivable,accountsreceivable,otherreceivables.TheGroupexpectsthatthereisnosignificantcreditriskassociatedwithcashatbanksincetheyaremainlydepositedatstate-ownedbanksandothermediumorlargesizelistedbanks.Managementdoesnotexpectthattherewillbeanysignificantlossesfromnon-performancebythesecounterparties.Furthermore,astheGroup’sbankacceptancenotesreceivablearegenerallyacceptedbythestate-ownedbanksandotherlargeandmediumlistedbanks,managementbelievesthecreditriskshouldbelimited.Inaddition,theGrouphaspoliciestolimitthecreditexposureonaccountsreceivable,otherreceivablesandtradeacceptancenotesreceivable.TheGroupassessesthecreditqualityofandsetscreditlimitsonitscustomersbytakingintoaccounttheirfinancialposition,theavailabilityofguaranteefromthirdparties,theircredithistoryandotherfactorssuchascurrentmarketconditions.ThecredithistoryofthecustomersisregularlymonitoredbytheGroup.Inrespectofcustomerswithapoorcredithistory,theGroupwillusewrittenpaymentreminders,orshortenorcancelcreditperiods,toensuretheoverallcreditriskoftheGroupislimitedtoacontrollableextent.
(3)LiquidityriskCashflowforecastingisperformedbyeachsubsidiaryoftheGroupandaggregatedbytheGroup’sfinancedepartmentinitsheadquarters.TheGroup’sfinancedepartmentatitsheadquartersmonitorsrollingforecastsoftheGroup'sshort-termandlong-termliquidityrequirementstoensureithassufficientcashreserve,whilemaintainingsufficientheadroomonitsundrawncommittedborrowingfacilitiesfrommajorfinancialinstitutionssothattheGroupdoesnotbreachborrowinglimitsorcovenantsonanyofitsborrowingfacilitiestomeettheshort-termandlong-termliquidityrequirements.Themanagementintendstotakethefollowingmeasurestoensurethatthegroup'sliquidityriskiswithinacontrollablerange.(a)TheGroupwillhavesteadycashinflowsfromoperatingactivities;(b)TheGroupwillpaythedebtsthatmatureandfinancetheconstructionprojectsthroughtheexistingbankfacilities;(c)TheGroupwillcloselymonitorthepaymentofconstructionexpenditureintermsofpaymenttimeandamount.ThefinancialliabilitiesoftheGroupatthebalancesheetdateareanalysedbytheirmaturitydatebelowattheirundiscountedcontractualcashasfollows:
| 30June2022 | |||||
| Within1year | 1to2years | 2to5years | Over5years | Total | |
| Short-termborrowings | 481,724,918 | 481,724,918 | |||
| Notespayable | 549,939,628 | 549,939,628 | |||
| Accountspayable | 1,796,932,531 | 1,796,932,531 | |||
| Otherpayables | 221,866,936 | 221,866,936 | |||
| Othercurrentliabilities | 47,730,142 | 47,730,142 | |||
| Non-currentliabilitiesduewithinoneyear | 2,468,442,587 | 2,468,442,587 | |||
| Long-termpayables | 149,062,955 | 149,062,955 | |||
| Long-termborrowings | 125,145,270 | 1,413,083,190 | 1,544,631,303 | 471,015,574 | 3,553,875,337 |
| Total | 5,691,782,012 | 1,562,146,145 | 1,544,631,303 | 471,015,574 | 9,269,575,034 |
31December2021
| 31December2021 | |||||
| Within1year | 1to2years | 2to5years | Over5years | Total | |
| Short-termborrowings | 182,299,506 | 182,299,506 | |||
| Notespayable | 400,662,713 | 400,662,713 | |||
| Accountspayable | 1,428,851,312 | 1,428,851,312 | |||
| Otherpayables | 289,440,477 | 289,440,477 | |||
| Othercurrentliabilities | 40,099,309 | 40,099,309 | |||
| Non-currentliabilitiesduewithinoneyear | 514,569,537 | 514,569,537 | |||
| Long-termpayables | 168,258,062 | 168,258,062 | |||
| Long-termborrowings | 60,580,998 | 374,241,583 | 889,057,539 | 363,125,181 | 1,687,005,301 |
| Bondspayable | 120,000,000 | 2,120,000,000 | 2,240,000,000 | ||
| Total | 3,036,503,852 | 2,662,499,645 | 889,057,539 | 363,125,181 | 6,951,186,217 |
XI.Disclosureoffairvalue
1.Theendingfairvalueofassetsandliabilitiesmeasuredatfairvalue
Unit:RMB
| Fairvalueattheendoftheperiod | ||||
| Level1 | Level2 | Level3 | Total | |
| Financialassetsmeasuredatfairvaluewithchangesincludedincurrentprofitandloss | ||||
| Structureddeposits | 1,209,000,000 | 1,209,000,000 | ||
| Financialassetsmeasuredatfairvaluethroughothercomprehensiveincome | ||||
| ReceivablesFinancing | 582,328,808 | 582,328,808 | ||
| Investmentproperty | 383,084,500 | 383,084,500 | ||
| Total | 2,174,413,308 | 2,174,413,308 | ||
XII.RelatedpartyandrelatedTransaction
1.InformationoftheparentcompanyTheCompanyregardsnoentityastheparentcompany.
2.InformationofthesubsidiariesThegeneralinformationandotherrelatedinformationofthesubsidiariesaresetoutinattachednote.
3.JointventureoftheCompanyThegeneralinformationandotherrelatedinformationofjointventuresoftheCompanyaresetoutinattachednote.
4.Otherrelatedparties
| Otherrelatedparties | Relationshipbetweenotherrelatedpartiesandtheenterprise |
| ForeseaLifeInsuranceCo.,Ltd. | TheCompany'slargestshareholder |
| ShenzhenJushenghuaCo.,Ltd. | ArelatedpartyoftheCompany'slargestshareholder |
| XinjiangQianhaiUnitedPropertyInsuranceCo.,Ltd. | ArelatedpartyoftheCompany'slargestshareholder |
| SuzhouBaoqiLogisticsCo.,Ltd. | ArelatedpartyoftheCompany'slargestshareholder |
| ShenzhenBaonengAutomobileSalesServiceCo.,Ltd | ArelatedpartyoftheCompany'slargestshareholder |
5.Relatedpartytransactions
(1)Relatedtransactionsforthepurchaseandsaleofgoods,provisionandreceiptofservices
Purchaseofgoods/acceptanceoflaborservices
Unit:RMB
| Relatedparty | Relatedpartytransactions | Amountincurredinthecurrentperiod | Whetherthetransactionlimitisexceeded | Amountincurredinthepreviousperiod |
| SuzhouBaoqiLogisticsCo.,Ltd. | Acceptanceoflaborservices | None | 5,247,713 | |
| ForeseaLifeInsuranceCo.,Ltd. | PurchasePurchaseoflifeinsurance | 3,323,544 | None | 1,224,197 |
| ShenzhenBaonengAutomobileSalesServiceCo.,Ltd | Purchaseofgoods | None | 1,818,050 | |
| XinjiangQianhaiUnitedPropertyInsuranceCo.,Ltd. | Purchaseautoinsurance | None | 84,149 | |
| Otherrelatedparties | Purchaseofgoods | 245,339 | None | 609,968 |
| Total | 3,568,883 | None | 8,984,077 |
Salesofgoods/provisionoflaborservices
Unit:RMB
| Relatedparty | Relatedpartytransactions | Amountincurredinthecurrentperiod | Amountincurredinthepreviousperiod |
| ShenzhenJushenghuaCo.,Ltd. | Salesofgoods | 500 | |
| Otherrelatedparties | Salesofgoods | 208,935 | 559,600 |
| Total | 208,935 | 560,100 |
（2）Relatedlease
Thecompanyasthelessee：
Unit:RMB
| Nameoflessor | Typesofleased | Rentalcostsforsimplifiedshort-termleasesandlowvalueasset | Variableleasepaymentsnotincludedinthemeasurementof | Rentpaid | Interestexpenseofleaseliabilitiesundertaken | Increaseduserightassets |
| assets | leases(ifapplicable) | leaseliabilities(ifapplicable) | |||||||||
| Amountincurredinthecurrentperiod | Amountincurredinthepreviousperiod | Amountincurredinthecurrentperiod | Amountincurredinthepreviousperiod | Amountincurredinthecurrentperiod | Amountincurredinthepreviousperiod | Amountincurredinthecurrentperiod | Amountincurredinthepreviousperiod | Amountincurredinthecurrentperiod | Amountincurredinthepreviousperiod | ||
| Otherrelatedparties | Leasedplant | 442,325 | 19,559 | ||||||||
6.Accountsreceivableandpayableofrelatedparties
(1)Receivables
Unit:RMB
| Relatedparty | Closingbalance | Openingbalance | ||
| Bookbalance | Baddebtprovision | Bookbalance | Baddebtprovision | |
| ForeseaLifeInsuranceCo.,Ltd. | 457,134 | 1,715 | ||
| Otherrelatedparties | 283,146 | 4,064 | 240,905 | 4,819 |
| Total | 740,280 | 4,064 | 242,620 | 4,819 |
(2)Payables
| Relatedparty | Closingbookbalance | Openingbookbalance |
| SuzhouBaoqiLogisticsCo.,Ltd. | 518,280 | 2,731,013 |
| Otherrelatedparties | 134,025 | 133,408 |
| Total | 652,305 | 2,864,421 |
XIII.Sharebasedpayment
1.Generalsituationofsharebasedpayment
□Applicable√Notapplicable
2.Sharebasedpaymentsettledbyequity
□Applicable√Notapplicable
3.Cashsettledsharebasedpayment
□Applicable√Notapplicable
XIV.Commitmentsandcontingencies
1.Significantcommitments
(1)CapitalcommitmentsCapitalexpenditurescontractedforbytheGroupatthebalancesheetdatebutarenotyetnecessarytoberecognizedonthebalancesheetareasfollows:
Unit:RMB
| Item | 30June2022 | 31December2021 |
| Buildings,machineryandequipment | 3,255,792,770 | 2,994,615,272 |
XV.Otherimportantmatters
1.Segmentinformation
(1)Definitionfoundationofsegmentandaccountingpolicy
TheGroup'sbusinessactivitiesarecategorisedbyproductandserviceasfollows:
Glasssegment,engagedinproductionandsalesoffloatglassandengineeringglassandotherbuildingenergy-savingmaterials,thesilicafortheproductionthereof,etc.Electronicglassanddisplaysegmentisresponsibleforproductionandsalesofdisplaycomponentsandspecialultra-thinglassproducts,etc.Solarenergysegment,engagedinmanufacturingandsalesofpolysiliconandsolarbatteryandapplications,etc.ThereportablesegmentsoftheGrouparethebusinessunitsthatprovidedifferentproductsorservice.Differentbusinessesrequiredifferenttechnologiesandmarketingstrategies.TheGroup,therefore,separatelymanagestheproductionandoperationofeachreportablesegmentandEstimatestheiroperatingresultsrespectively,inordertomakedecisionsaboutresourcestobeallocatedtothesesegmentsandtoassesstheirperformance.Inter-segmenttransferpricesaremeasuredbyreferencetosellingpricestothirdparties.Theassetsareallocatedbasedontheoperationsofthesegmentandthephysicallocationoftheasset.Theliabilitiesareallocatedbasedontheoperationsofthesegment.Expensesindirectlyattributabletoeachsegmentareallocatedtothesegmentsbasedontheproportionofeachsegment’srevenue.
(2)Financialinformationofsegment
Unit:RMB
| Item | Glassindustry | Electronicglassanddisplay | Solarenergyandotherindustries | Unallocated | Elimination | Total |
| Revenuefromexternalcustomers | 4,374,933,542 | 722,676,247 | 1,405,993,071 | 15,613,816 | 6,519,216,676 | |
| Inter-segmentrevenue | 53,836,884 | 87,239,522 | 27,648,076 | 214,893,714 | -383,618,196 | |
| Interestincome | 1,783,726 | 281,292 | 308,648 | 28,383,038 | 30,756,704 | |
| Interestexpenses | 4,057,266 | 3,838,337 | -135,478 | 84,224,479 | 91,984,604 | |
| Assetimpairmentlosses | -1,456 | -1,456 | ||||
| Creditimpairmentloss | 848,260 | -320,455 | 879,333 | 85,084 | 1,492,222 | |
| Depreciationandamortizationexpenses | 284,583,466 | 114,919,758 | 64,926,060 | 3,641,946 | 468,071,230 | |
| Totalprofit | 698,174,831 | 130,737,688 | 333,914,370 | 14,689,342 | 1,177,516,231 | |
| Incometaxexpenses | 99,050,153 | 18,781,190 | 52,257,720 | -1,163,539 | 168,925,524 | |
| Netprofit | 599,124,678 | 111,956,498 | 281,656,650 | 15,852,881 | 1,008,590,707 | |
| Totalassets | 11,258,772,055 | 3,727,213,216 | 3,285,363,409 | 4,199,829,096 | 22,471,177,776 | |
| Totalliabilities | 4,895,321,766 | 641,350,698 | 584,360,531 | 4,088,494,414 | 10,209,527,409 | |
| Increaseinnoncurrentassets | 1,426,159,873 | 69,360,125 | 132,889,883 | 3,450,028 | 1,631,859,909 |
(3)Otherstatement
TheGroup’srevenuefromexternalcustomersdomesticallyandinforeigncountriesorgeographicalareas,andthetotalnon-currentassetsotherthanfinancialassetsanddeferredtaxassetslocateddomesticallyandinforeigncountriesorgeographicalareasareasfollows:
| Revenuefromexternalcustomers | Jan.-Jun.2022 | Jan.-Jun.2021 |
| Mainland | 6,019,026,588 | 5,993,997,205 |
| Overseas | 500,190,088 | 620,805,333 |
| Total | 6,519,216,676 | 6,614,802,538 |
| Totalnon-currentassets | 30June2022 | 31December2021 |
| Mainland | 14,103,009,578 | 12,982,067,078 |
| HongKong | 12,376,080 | 12,403,499 |
| Total | 14,115,385,658 | 12,994,470,577 |
XVI.NotestoFinancialStatementsoftheParentCompany
1.Accountsreceivable
(1)Classifieddisclosureofaccountsreceivable
Unit:RMB
| Category | Endingbookbalance | Beginningbookbalance | ||||||||
| Bookbalance | Baddebtprovision | bookvalue | Bookbalance | Baddebtprovision | bookvalue | |||||
| amountofmoney | proportion | amountofmoney | Accrualproportion | amountofmoney | proportion | amountofmoney | Accrualproportion | |||
| Accountsreceivableforwhichbaddebtreservesarewithdrawnbyportfolio | 2,037,007 | 100% | 40,740 | 2% | 1,996,267 | |||||
| Total | 2,037,007 | 100% | 40,740 | 2% | 1,996,267 | |||||
Provisionforbaddebtsbyportfolio：
Unit:RMB
| Name | Endingbookbalance | ||
| Bookbalance | Baddebtprovision | Accrualproportion | |
| Portfolio1 | 2,037,007 | 40,740 | 2% |
| Total | 2,037,007 | 40,740 | |
Disclosedbyaging
Unit:RMB
| Aging | Endingbookbalance |
| Within1year(including1year) | 2,037,007 |
| Total | 2,037,007 |
(2)Baddebtreserveswithdrawn,recoveredorreversedinthecurrentperiodProvisionforbaddebtsinthecurrentperiod：
Unit:RMB
| Category | Beginningbookbalance | Amountofchangeinthecurrentperiod | Endingbalance | |||
| Provision | Collectorreversal | Writeoff | Others | |||
| Baddebtreservesofaccountsreceivable | 40,740 | 40,740 | ||||
| Total | 40,740 | 40,740 | ||||
(3)Top5oftheclosingbalanceoftheaccountsreceivablecollatedaccordingtothearrearsparty
Unit:RMB
| Unitname | Endingbalanceofaccountsreceivable | Proportionintotalclosingbalanceofaccountsreceivable | Endingbalanceofbaddebtprovision |
| Totalaccountsreceivableofthetop5inbalance | 2,037,007 | 100% | 40,740 |
| Total | 2,037,007 | 100% |
2.Otherreceivables
Unit:RMB
| Item | Endingbalance | Bookbalance |
| Dividendsreceivable | 250,000,000 | 250,000,000 |
| Otherreceivables | 2,374,297,723 | 2,649,091,405 |
| Total | 2,624,297,723 | 2,899,091,405 |
(1)Dividendsreceivable1）Classificationofdividendsreceivable
Unit:RMB
| Item(orinvestee) | Closingbalance | Openingbalance |
| Dividendsreceivablefromsubsidiaries | 250,000,000 | 250,000,000 |
| Total | 250,000,000 | 250,000,000 |
(2)Otherreceivables
1)Otheraccountsreceivableclassifiedbythenatureofaccounts
Unit:RMB
| Natureofaccounts | Endingbookbalance | Beginningbookbalance |
| Accountsreceivableofrelatedparty | 2,250,430,875 | 2,526,427,812 |
| Others | 175,252,620 | 174,005,021 |
| Total | 2,425,683,495 | 2,700,432,833 |
2）Withdrawalofbaddebtprovision
Unit:RMB
| Baddebtprovision | PhaseI | PhaseII | PhaseIII | Total |
Expectedcreditlossesinthenext12months
| Expectedcreditlossesinthenext12months | Expectedcreditlossfortheentireduration(nocreditimpairmentoccurred) | Expectedcreditlossfortheentireduration(creditimpairmentoccurred) | ||
| Balanceon1January2022 | 41,428 | 51,300,000 | 51,341,428 | |
| Balanceon1January2022incurrentperiod | ||||
| Provisionforthisperiod | 44,344 | 44,344 | ||
| Balanceon30June2022 | 85,772 | 51,300,000 | 51,385,772 |
3）Otherreceivablesdisclosedbyaging
Unit:RMB
| Aging | Endingbalance |
| Within1year(including1year) | 2,253,443,341 |
| 1to2years | 1,036,498 |
| 2to3years | 98,190 |
| Morethan3years | 171,105,466 |
| 3to4years | 75,371 |
| Morethan5years | 171,030,095 |
| Total | 2,425,683,495 |
4)Provisionforbaddebtsaccrued,recoveredorreversedinthecurrentperiodProvisionforbaddebts:
Unit:RMB
| Category | Openingbalance | Amountofchangeinthecurrentperiod | Closingbalance | |||
| Provision | Collectorreversal | Write-off | Others | |||
| Provisionforbaddebtsbyportfolio | 51,341,428 | 44,344 | 51,385,772 | |||
| Total | 51,341,428 | 44,344 | 51,385,772 | |||
）Top5oftheclosingbalanceoftheotheraccountsreceivablecollatedaccordingtothearrearsparty
Unit:RMB
| Nameofthecompany | Natureofaccounts | Closingbalance | Aging | Proportionofthetotalyearendbalanceoftheaccountsreceivable(%) | Closingbalanceofbaddebtprovision |
| DongguanCSGPV-tech | Subsidiary | 569,768,167 | Within1year | 23% | |
| QingyuanCSGEnergy-saving | Subsidiary | 342,364,169 | Within1year | 14% | |
| ShenzhenCSGDisplay | Subsidiary | 334,548,092 | Within1year | 14% | |
| XianningCSGPhotoelectric | Subsidiary | 251,068,779 | Within1year | 10% | |
| ChinaSouthernGlass(HongKong) | Subsidiary | 240,438,085 | Within1year | 10% | |
| Total | 1,738,187,292 | 71% |
3.Long-termequityinvestment
Unit:RMB
| Item | Closingbalance | Openingbalance | ||||
| Bookbalance | Impairmentprovision | Bookvalue | Bookbalance | Impairmentprovision | Bookvalue | |
| Investmentinsubsidiaries | 6,914,675,709 | 15,000,000 | 6,899,675,709 | 6,277,391,694 | 15,000,000 | 6,262,391,694 |
| Total | 6,914,675,709 | 15,000,000 | 6,899,675,709 | 6,277,391,694 | 15,000,000 | 6,262,391,694 |
(1)Investmentinsubsidiaries
Unit:RMB
| Investedcompany | Openingbalance(bookvalue) | Increaseanddecreaseinthecurrentperiod | Closingbalance(bookvalue) | Closingbalanceofprovisionforimpairment | |||
| Additionalinvestment | Reducinginvestment | Provisionforimpairment | Others | ||||
| ChengduCSGGlassCo.,Ltd. | 151,397,763 | 151,397,763 | ||
| SichuanCSGEnergyConservation | 119,256,949 | 119,256,949 | ||
| TianjinEnergyConservationGlassCo.,Ltd. | 247,833,327 | 247,833,327 | ||
| DongguanCSGArchitecturalGlassCo.,Ltd. | 198,276,242 | 198,276,242 | ||
| DongguanCSGSolarGlassCo.,Ltd. | 355,120,247 | 355,120,247 | ||
| YichangCSGPolysiliconCo.,Ltd. | 640,856,170 | 269,104,000 | 909,960,170 | |
| WujiangCSGNorth-eastArchitecturalGlassCo.,Ltd. | 254,401,190 | 254,401,190 | ||
| HebeiCSGGlassCo.,Ltd. | 266,189,705 | 266,189,705 | ||
| ChinaSouthernGlass(HongKong)Limited | 87,767,304 | 87,767,304 | ||
| WujiangCSGGlassCo.,Ltd. | 567,645,430 | 567,645,430 | ||
| JiangyouCSGMiningDevelopmentCo.,Ltd. | 102,415,096 | 102,415,096 | ||
| XianningCSGGlassCo.,Ltd. | 181,116,277 | 181,116,277 | ||
| XianningCSGEnergyConservationGlassCo.,Ltd. | 165,452,035 | 165,452,035 | ||
| QingyuanCSGEnergySavingNewMaterialsCo.,Ltd. | 885,273,105 | 885,273,105 | ||
| ShenzhenCSGFinancialLeasingCo.,Ltd. | 133,500,000 | 133,500,000 | ||
| ShenzhenNanboDisplayTechnologyCo.,Ltd. | 550,765,474 | 550,765,474 | ||
| ZhaoqingCSGEnergy-SavingGlassCo.,Ltd. | 150,000,000 | 150,000,000 | ||
| ZhaoqingCSGAutomobileGlassCo.,Ltd. | 58,121,000 | 12,030,015 | 70,151,015 | |
| DongguanCSGPV-techCo.,Ltd. | 382,112,183 | 382,112,183 | ||
| AnhuiCSGNewEnergyMaterials | 455,000,000 | 255,000,000 | 710,000,000 | |
| AnhuiCSGNewQuartzmaterial | 37,000,000 | 38,000,000 | 75,000,000 | |
| ShenzhenCSGMedical | 20,000,000 | 20,000,000 | ||
| AnhuiCSGSiliconValleyMingduCo.,Ltd. | 3,000,000 | 3,000,000 | ||
| Xi'anCSGEnergySavingCo.,Ltd. | 1,000,000 | 21,150,000 | 22,150,000 | |
| GuangxiCSGNewEnergyMaterials | 1,000,000 | 17,000,000 | 18,000,000 |
| Co.,Ltd | |||||
| CSG(Suzhou)EnterpriseHeadquartersManagementCo.,Ltd | 9,000,000 | 21,000,000 | 30,000,000 | ||
| YichangCSGNewEnergyMaterialsCo.,Ltd | 1,000,000 | 1,000,000 | |||
| HefeiCSGEnergySavingCo.,Ltd | 3,000,000 | 3,000,000 | |||
| Others | 238,892,197 | 238,892,197 | 15,000,000 | ||
| Total | 6,262,391,694 | 637,284,015 | 6,899,675,709 | 15,000,000 |
4.Operatingincomeandoperatingcosts
Unit:RMB
| Item | Occurredinthisterm | Occurredinpreviousterm | ||
| Income | Costs | Income | Costs | |
| Mainbusiness | 15,479,200 | 15,015,892 | ||
| Otherbusiness | 214,719,212 | 42,342,857 | ||
| Total | 230,198,412 | 15,015,892 | 42,342,857 | |
5.Investmentincome
Unit:RMB
| Item | Occurredinthisterm | Occurredinpreviousterm |
| Long-termequityinvestmentaccountedbycostmethod | 648,961,128 | 715,020,699 |
| Investmentincomeoftradingfinancialassetsduringtheholdingperiod | 14,478,503 | 2,858,476 |
| Fixeddepositincome | 1,935,192 | 596,467 |
| Total | 665,374,823 | 718,475,642 |
XVII.SupplementaryInformation
1.Itemsandamountsofextraordinaryprofit(gains)/loss
√Applicable□Notapplicable
Unit:RMB
| Item | Amount | Note |
| Gains/lossesfromthedisposalofnon-currentasset(includingthewrite-offthataccruedforimpairmentofassets) | 12,745,461 | |
| Governmentalsubsidyreckonedintocurrentgains/losses(notincludingthesubsidyenjoyedinquotaorrationaccordingtonationalstandards,whicharecloselyrelevanttoenterprise’sbusiness) | 97,547,070 |
| Inadditiontotheeffectivehedgingbusinessrelatedtothenormaloperationofthecompany,gainsandlossesfromchangesinfairvaluearisingfromtheholdingoftradablefinancialassetsandtradablefinancialliabilities,andtheacquisitionoftradablefinancialassetsandavailable-for-salefinancialassetsfromdisposaloftradablefinancialassetsinvestmentincome | 16,413,695 | |
| Reversalofimpairmentprovisionforreceivablessubjecttoindependentimpairmenttest | 1,409,310 | |
| Othernon-operatingincomeandexpenditureexceptfortheaforementioneditems | 11,472,908 | |
| Less:Impactonincometax | 23,294,919 | |
| Impactonminorityshareholders’equity(post-tax) | 2,713,947 | |
| Total | 113,579,578 | -- |
Detailsofotherprofitandlossitemsthatmeetthedefinitionofnonrecurringprofitandloss：
□Applicable√NotapplicableTheCompanyhasnospecificcircumstancesofotherprofitandlossitemsthatmeetthedefinitionofnon-recurringprofitandloss.Explanationondefiningthenon-recurringprofitandlossitemslistedinthe"ExplanatoryAnnouncementNo.1onInformationDisclosureofCompaniesOfferingSecuritiestothePublic-Non-recurringProfitandLoss"asrecurringprofitandlossitems
□Applicable√Notapplicable
2.Returnonnetassetsandearningspershare
| Profitinthereportperiod | Theweightedaveragenetassetsratio | Earningspershare | |
| Basicearningspershare(RMB/share) | Dilutedearningspershare(RMB/share) | ||
| NetprofitattributabletoordinaryshareholdersoftheCompany | 8.61% | 0.33 | 0.33 |
| NetprofitattributabletoordinaryshareholdersoftheCompanyafterdeductingnon-recurringgainsandlosses | 7.64% | 0.29 | 0.29 |
3.Differenceofaccountingdataunderdomesticandoverseasaccountingstandards
(1)DifferencesofthenetprofitandnetassetsdisclosedinfinancialreportpreparedunderinternationalandChineseaccountingstandards
□Applicable√Notapplicable
(2)DifferenceofthenetprofitandnetassetsdisclosedinfinancialreportpreparedunderoverseasandChineseaccountingstandards
□Applicable√Notapplicable
(3)Explanationofthereasonsforthedifferenceofaccountingdataunderthedomesticandforeignaccountingstandards.Ifthedataauditedbytheoverseasauditinstitutionisadjustedforthedifference,thenameoftheoverseasinstitutionshallbeindicated
□Applicable√Notapplicable
BoardofDirectorsofCSGHoldingCo.,Ltd.31August2022