厦门象屿：Report for First Quarter of 2023

Stock Code: 600057 Stock Abbreviation: Xiamen Xiangyu

Xiamen Xiangyu Co., Ltd.Report for First Quarter of 2023

The Board of Directors and all Directors of the Company shall guarantee that there is nofalse recordation, misleading statement, or material omission in contents of thisAnnouncement, and shall assume the legal liability for authenticity, accuracy andcompleteness of such contents.

Notes to Important Items:

The Board of directors, the Board of Supervisors, as well as Directors, Supervisors and SeniorManagement of the Company shall guarantee the authenticity, accuracy, and completeness ofthe contents of the Quarterly Report without any false recordation, misleading statement, ormaterial omission, and shall assume the joint and several legal liabilities.

Deng Qidong as the person in charge of the Company, Qi Weidong as the person in charge offinancial affairs, and Lin Jing as the leading member of the accounting body (the person incharge of accounting) shall guarantee the authenticity, accuracy and completeness of thefinancial information in the Quarterly Report.

Whether the financial statements for the first quarter are audited or not

□ Yes √ No

I. Key financial data

(1) Key accounting data and financial indicators

Unit: million Yuan Currency: RMB

Item	Current reporting period	The same reporting period of last year		Changes on a YoY basis (%)
		Before adjustment	After adjustment	After adjustment
Operating revenue	129,150.20	113,863.69	113,863.69	13.43
Net profit attributable to shareholders of the listed company	546.36	466.33	477.09	14.52
Net profit attributable to shareholders of the listed company after deducting the non-recurring profit and loss	44.92	687.05	697.81	-93.56
Net cash flow from operating activities	-25,807.50	-23,499.56	-23,499.56	Not applicable
Basic earnings per share (Yuan/share)	0.23	0.20	0.20	15.00
Diluted earnings per share (Yuan/share)	0.23	0.19	0.19	21.05
Weighted average return on equity (%)	3.43	3.23	3.23	Increased by 0.20 percentage points
	At the end of reporting period	At the end of last year		Changes compared to the end of last year (%)
		Before adjustment	After adjustment	After adjustment
Total assets	138,507.78	115,056.41	115,107.11	20.33
Owner’s equity attributable to the shareholders of the listed company	17,369.62	17,091.57	17,082.81	1.68

Note: In the above statement, the net profit attributable to the shareholders of the listedcompany in the current reporting period includes the interest attributable to the holders of theperpetual bonds in the reporting period in the amount of RMB 29 million; after deducting suchinterest, the amount of the net profit attributable to the shareholders of the listed company in thecurrent reporting period is RMB 517 million. When calculating the basic earnings per share, thediluted earnings per share, the weighted average return on equity, and other key financialindicators mentioned above, the perpetual bonds and the interests accrued thereon arededucted.

Explanation for retroactive adjustment or restatement: The Company implemented theprovisions of the Interpretation No. 16 of Accounting Standards for Enterprises on “Accountingtreatment on deferred income tax on assets and liabilities arising from individual transactionsthat is not subject to the initial recognition exemption” and “Accounting treatment on income taximplications of dividends related to financial instruments classified by the issuer as equityinstruments”, and retrospectively adjusted the relevant items of the balance sheet of thebeginning of consolidated period and the relevant items of other financial statement of the sameperiod of last year. The specific adjustments are as below:

Unit: million Yuan Currency: RMB

Impacted Items	January 1, 2023/ First Quarter of 2022
	Before Adjustment	After Adjustment
Items of Balance Sheet：
Deferred tax assets	1,237.66	1,288.37
Deferred tax liabilities	139.89	204.75
Undistributed profits	6,092.09	6,083.33
Minority interests	19,300.06	19,294.67
Items of Income Statement：
Income tax expense	198.73	187.98
Net profit	697.50	708.25
Net profit attributable to the shareholders of the parent company	466.33	477.09

(2) Non-recurring profit and loss items and amounts thereof

Unit: Yuan Currency: RMB

Item	Amount in current reporting period	Remark
Gain or loss on disposal of non-current assets	-24,165.40
The government subsidies (except for those closely related to the Company’s normal business operations, in line with national policies, and continuously available at certain standard quota or ration) included in the current profit and loss	105,514,377.67	Including the amount of government subsidies received in previous years and apportioned in the current period.
Except for the effective hedging business related to the Company’s	515,072,856.82	Mainly including the changes in fair value recognized in profit or loss and

normal business operations, the changes in fair value recognized in profit or loss derived from holding trading financial assets, derivative financial assets, trading financial liabilities, and derivative financial liabilities, and the investment income obtained from disposal of trading financial assets, derivative financial assets, trading financial liabilities, derivative financial liabilities, and other investments on bonds		the gains and losses on disposal arising from the hedging against the fluctuation in commodity price and exchange rate by the Company with futures instrument and foreign exchange contract in order to support the spot operation of the main business, which are closely related to the operating profit and loss of the main business.
Reversal of the impairment provision for receivables and contractual assets for which the impairment tests are carried out separately	9,998,097.61
Trustee fee from entrusted operations	1,686,320.76
Other non-operating incomes and expenses than those mentioned above	40,574,758.98
Less: Amount of income tax consequence	140,153,501.82
Amount of minority equity consequence (after tax)	31,225,455.26
Total	501,443,289.36

Note to the fact that the non-recurring profit and loss items as set forth in the “ExplanatoryAnnouncement No. 1 on Information Disclosure for Companies Offering Their Securities to thePublic – Non-Recurring Profit and Loss” are recognized as the recurring profit and loss items.

□ Applicable √ Not Applicable

(3) The circumstances and causes for occurrence of changes in the key accounting data andfinancial indicators

√ Applicable □ Not Applicable

Name of item	Proportion of change (%)	Main cause
Net profit attributable to shareholders of the listed company after deducting the non-recurring profit and loss	-93.56	Primarily due to an increase of non-recurring profit and loss of RMB 722mn on a Year-on-Year basis, mainly including the changes in fair value recognized in profit or loss and the gains and losses on disposal arising from holding futures contracts and foreign exchange contracts in

order to support the spot operation ofthe main business, which are closelyrelated to the operating profit and lossof the main business.

II. Information on shareholders

(1) The total number of common shareholders, the number of preferred shareholders whosevoting rights are restored, and the shares held by top ten shareholder

Unit: Shares

Total number of shareholders at the end of the reporting period	35,354		Total number of preferred shareholders whose voting rights are restored at the end of the reporting period (if any)			0
Shares holding by top 10 shareholders
Name of Shareholder	Nature of Shareholder	Number of Shares Held		Proportion of Shareholding (%)	Number of Restricted Shares Held	Pledge, Marking, or Freezing
						Status of Share	Quantity
Xiamen Xiangyu Group Corporation	State-owned legal person.	1,122,603,723		49.59	0	No	0
Hong Kong Securities Clearing Company Ltd.	Overseas legal person	57,809,939		2.55	0	No	0
National Social Security Fund Portfolio 503	Others	54,000,000		2.39	0	No	0
Xiamen CCRE Group Co., Ltd.	State-owned legal person	50,226,994		2.22	0	No	0
China Agricultural Reclamation Industry Development Fund (L.P.)	Others	43,149,000		1.91	0	No	0
National Social Security Fund Portfolio 114	Others	39,563,223		1.75	0	No	0
Xiangyu Real Estate Group Co., Ltd.	State-owned legal person	30,388,100		1.34	0	No	0

China Merchants Bank Co., Ltd. - SSE Dividend Trading Open-ended Index Securities Investment Fund	Others	24,395,352	1.08	0	No		0
National Social Security Fund Portfolio 401	Others	16,148,301	0.71	0	No		0
Bank of China Limited-Harvest Logistics Industry Equity Securities Investment Fund	Others	14,948,007	0.66	0	No		0
Shares holding by top 10 unrestricted shareholders
Name of Shareholder	Number of unrestricted outstanding shares held			Class and number of shares
				Class of shares		Number
Xiamen Xiangyu Group Corporation	1,122,603,723			RMB ordinary shares		1,122,603,723
Hong Kong Securities Clearing Company Ltd.	57,809,939			RMB ordinary shares		57,809,939
National Social Security Fund Portfolio 503	54,000,000			RMB ordinary shares		54,000,000
Xiamen CCRE Group Co., Ltd.	50,226,994			RMB ordinary shares		50,226,994
China Agricultural Reclamation Industry Development Fund (L.P.)	43,149,000			RMB ordinary shares		43,149,000
National Social Security Fund Portfolio 114	39,563,223			RMB ordinary shares		39,563,223
Xiangyu Real Estate Group Co., Ltd.	30,388,100			RMB ordinary shares		30,388,100

III. Other remindersOther important information on the Company’s operating conditions during the reporting periodthat investors shall be reminded of

√ Applicable □ Not Applicable

1. Harbin Rural Commercial Bank Co., Ltd. (hereinafter referred to as "Harbin RuralCommercial Bank"), made an impairment provision of RMB 1.6 billion for non-performing loansin the first quarter of 2023, resulting in a loss of its first-quarter financial statements. The

China Merchants Bank Co., Ltd. - SSE Dividend Trading Open-ended Index Securities Investment Fund	24,395,352	RMB ordinary shares	24,395,352
National Social Security Fund Portfolio 401	16,148,301	RMB ordinary shares	16,148,301
Bank of China Limited-Harvest Logistics Industry Equity Securities Investment Fund	14,948,007	RMB ordinary shares	14,948,007
Note to association or concerted action of aforesaid shareholders	Xiangyu Real Estate Group Co., Ltd. is a wholly-owned subsidiary of Xiamen Xiangyu Group Corporation. The Company is not aware that whether there is any association between the other aforesaid shareholders, or whether the other aforesaid shareholders are the person acting in concert as stipulated in the “Administration of the Takeover of Listed Companies Procedures”.
Notes to participation on top 10 shareholders and top 10 unrestricted shareholders in securities margin trading and refinancing business (if any)	Not applicable

Company holds shares of 9.9% in Harbin Rural Commercial Bank and therefore recognized aninvestment loss of RMB 148 million on it according to the shareholding ratio.On April 27, 2023, the Company signed the "Equity Transfer Intention Agreement" with itscontrolling shareholder, Xiamen XMXYG Group Co., Ltd., intending to transfer all the equityheld by the Company in Harbin Rural Commercial Bank to Xiamen XMXYG Group Co., Ltd. orits subsidiaries. The company is currently carrying out the audit and evaluation of the targetequity, and strives to complete the equity transfer within 2023.2．The Company held the sixth meeting of the ninth session of the board of directors on March28, 2023, which deliberated and passed the "Proposal on Granting Reserved Part of RestrictedShares to Incentive Recipients". With March 28, 2023 as the reserved grant date, restrictedshares of 6.09 million were granted to 59 eligible incentive recipients at a grant price of RMB

5.36 per share. As at the reporting date, the reservation grant has not been registered.

3. According to the relevant laws and regulations of the registration-based system, the project ofthe Company's non-public offering of A-shares has been transferred to the Shanghai StockExchange and is currently being accepted and reviewed by the Shanghai Stock Exchange.

IV. Quarterly financial statements

(1) Type of auditor’s opinions

□ Applicable √ Not Applicable

(2) Financial statements

Consolidated Balance SheetAs at March 31, 2023Prepared by: Xiamen Xiangyu Co., Ltd.

Unit: Yuan Currency: RMB Type of Audit: Unaudited

Item	March 31, 2023	January 1, 2023
Current assets:
Cash and cash equivalents	17,797,675,205.72	19,827,796,711.12
Deposit reservation for balance
Lending to Banks and Other Financial Institutions
Held-for-trading financial assets	709,324,940.19	538,653,027.86
Derivative financial assets	404,452,755.58	138,164,754.84
Notes receivable	243,915,556.72	185,094,125.58

Accounts receivable	24,009,371,956.35	20,933,113,354.93
Financing of receivables	702,642,070.82	629,228,282.61
Prepayments	22,254,101,539.46	17,410,891,830.39
Premiums receivable
Reinsurance accounts receivable
Provision of cession receivable
Other receivables	3,806,016,576.10	4,161,774,090.37
Including: Interests receivable
Dividends receivable		9,772,007.84
Redemptory monetary capital for sale
Inventories	45,718,169,540.55	28,520,230,746.65
Contract assets	775,257,609.60	751,734,648.98
Held-for-sale assets
Non-current assets due within one year	436,262,475.54	441,411,531.56
Other current assets	3,609,366,769.86	3,685,310,008.91
Total current assets	120,466,556,996.49	97,223,403,113.80
Non-current assets:
Loan and advance in cash
Investment in creditor’s right
Other investments in creditor’s right
Long-term receivables	1,000,000.00	1,000,000.00
Long-term equity investment	1,396,184,541.18	1,540,300,091.86
Investment in other equity instruments
Other non-current financial assets	140,871,203.28	131,864,209.36
Investment properties	1,045,157,045.11	952,156,611.55
Fixed assets	10,253,030,748.01	10,146,632,651.99
Construction in progress	178,596,544.14	156,422,328.19
Productive biological assets
Oil and gas assets
Right-of-use assets	694,444,368.93	682,921,518.69
Intangible assets	2,115,455,147.81	2,003,922,574.33
Development expenditure	11,713,416.28	4,181,708.15
Goodwill	12,669,186.90	12,669,186.90
Long-term unamortized expenses	152,525,921.05	161,514,818.57
Deferred income tax assets	1,523,891,266.02	1,288,366,413.62
Other non-current assets	515,686,208.72	801,759,447.88
Total non-current assets	18,041,225,597.43	17,883,711,561.09
Total assets	138,507,782,593.92	115,107,114,674.89
Current liabilities:
Short-term borrowing	35,498,086,404.35	11,959,353,120.86
Borrowings from central bank
Loans from other banks and other financial

institutions
Trading financial liabilities
Derivative financial liabilities	383,757,519.13	634,229,744.63
Notes payable	20,633,223,374.48	22,379,641,249.44
Accounts payable	13,140,250,395.79	15,474,006,986.14
Account collected in advance	20,584,873.15	23,973,470.01
Contract liabilities	10,246,728,557.72	9,814,717,739.54
Financial assets sold for repurchase
Deposits from customers and interbank
Acting trading securities
Acting underwriting securities
Payroll payable	1,034,712,451.27	1,513,866,366.33
Taxes payable	749,955,994.35	1,088,143,594.54
Other payables	2,229,846,677.87	4,034,085,616.27
Including: Interests payable
Dividends payable	432,677,068.20	32,959,704.04
Handling charges and commissions payable
Accounts payable for reinsurance
Held-for-sale liabilities
Non-current liabilities due within one year	1,466,830,939.20	1,592,931,420.36
Other current liabilities	11,650,726,326.69	2,457,156,640.32
Total current liabilities	97,054,703,514.00	70,972,105,948.44
Non-current liabilities:
Provision for insurance contracts
Long-term borrowings	3,116,209,062.31	3,195,496,636.04
Bonds payable		2,998,492,261.94
Including: Preferred shares
Perpetual bonds
Lease liabilities	278,399,342.67	262,679,235.20
Long-term payables
Long-term payroll payable	802,060,811.21	801,127,149.96
Estimated liabilities	8,070,566.59	10,119,882.43
Deferred income	279,938,461.10	284,870,248.05
Deferred income tax liabilities	235,050,674.69	204,745,290.41
Other non-current liabilities
Total non-current liabilities	4,719,728,918.57	7,757,530,704.03
Total liabilities	101,774,432,432.57	78,729,636,652.47
Owner’s equity (or shareholders’ equity):
Paid-up capital (or capital stock)	2,263,760,805.00	2,254,093,987.00
Other equity instruments	2,000,000,000.00	2,300,000,000.00
Including: Preferred shares
Perpetual bonds	2,000,000,000.00	2,300,000,000.00

Capital reserve	6,148,283,197.05	6,089,010,364.68
Less: Treasury stock	434,311,028.48	465,765,108.41
Other comprehensive income	100,830,703.10	131,398,941.62
Appropriative reserve	75,658.43
Surplus reserve	690,741,981.76	690,741,981.76
General risk reserve
Undistributed profits	6,600,239,829.47	6,083,329,926.98
Total owner’s equity (or shareholders’ equity) attributable to parent company	17,369,621,146.33	17,082,810,093.63
Minority equity	19,363,729,015.02	19,294,667,928.79
Total owner’s equity (or shareholders’ equity)	36,733,350,161.35	36,377,478,022.42
Total liabilities and owner’s equity (or shareholders’ equity)	138,507,782,593.92	115,107,114,674.89

Person in charge of Company: Deng Qidong Person in charge of financial affairs: QiWeidong Leading member of accounting body: Lin Jing

Consolidated Income StatementJanuary – March 2023Prepared by: Xiamen Xiangyu Co., Ltd.

Unit: Yuan Currency: RMB Type of Audit: Unaudited

Item	First Quarter of 2023	First Quarter of 2022
I. Total operating revenue	129,150,204,083.95	113,863,690,436.25
Including: Operating revenue	129,150,204,083.95	113,863,690,436.25
Interest income
Insurance premium earned
Handling charges and commissions income
II. Total operating cost	128,004,975,289.97	112,140,457,441.80
Including: Operating cost	126,409,791,032.38	110,787,213,393.10
Interest expense
Handling charge and commissions expense
Surrender value
Net payment of insurance claims
Net provision in insurance reserve
Policy dividend
Amortized reinsurance expenditures
Taxes and surcharges	136,812,075.96	117,752,645.71
Selling expenses	548,687,861.33	494,385,071.43
Administrative expenses	382,670,902.88	324,307,076.76
Research & development expense	33,042,135.40	6,430,714.07
Financial expense	493,971,282.02	410,368,540.73

Including: Interest expense	422,621,277.93	344,515,958.80
Interest income	59,680,173.13	38,631,468.93
Add: Other income	109,631,299.79	32,400,450.01
Income from investment (Loss to be filled in with “-”)	-162,890,813.21	-518,209,873.41
Including: Income from investment in associated enterprise and joint venture	-125,737,603.12	56,899,160.38
Income from derecognition of financial assets measured at amortized cost	-2,875,705.43	-37,223,114.85
Profit or loss on exchange (Loss to be filled in with “-”)
Net profit on exposure hedging (Loss to be filled in with “-”)
Income from change in fair value (Loss to be filled in with “-”)	500,442,450.42	-28,468,933.73
Loss on credit impairment (Loss to be filled in with “-”)	-71,077,829.69	-36,796,935.33
Asset impairment loss (Loss to be filled in with “-”)	-713,960,674.11	-352,951,539.26
Income from disposal of assets (Loss to be filled in with “-”)	69,186.14	1,593,662.84
III. Operating profit (Loss to be filled in with “-”)	807,442,413.32	820,799,825.57
Add: Non-operating income	42,136,210.37	119,346,401.78
Less: Non-operating expense	1,535,802.93	43,912,607.19
IV. Total profits (Total losses to be filled in with “-”)	848,042,820.76	896,233,620.16
Less: Income tax expense	89,575,637.68	187,980,195.72
V. Net profit (Net loss to be filled in with “-”)	758,467,183.08	708,253,424.44
(I) Classified by sustainability operation
1. Net profit from sustainable operation (Net loss to be filled in with “-”)	758,467,183.08	708,253,424.44
2. Net profit from discontinued operation (Net loss to be filled in with “-”)
(II) Classified by attribution of ownership
1. Net profit attributable to the shareholders of the parent company (Net loss to be filled in with “-”)	546,358,768.55	477,085,849.68
2. Minority interest income (Net loss to be filled in with “-”)	212,108,414.53	231,167,574.76
VI. Net-of-tax other comprehensive income	-15,653,896.47	-8,349,822.18
(I) Net-of-tax other comprehensive income attributable to the parent company	-30,568,238.52	-8,140,478.03
1. Other comprehensive income that cannot be reclassified as profit and loss
(1) Amount of changes in re-measurement of defined benefit plans
(2) Other comprehensive income that cannot be transferred to profit and loss under the equity method
(3) Change in fair value of other investments in equity instruments

(4) Changes in fair value of enterprise’s own credit risk
2. Other comprehensive income to be reclassified as profit and income	-30,568,238.52	-8,140,478.03
(1) Other comprehensive income that can be transferred to profit and loss under the equity method		4.40
(2) Changes in fair value of other investments on bonds
(3) Amount of financial assets reclassified and included in other comprehensive income
(4) Provision for credit impairment of other investments in bonds
(5) Reserve for cash flow hedge	15,583,308.43	3,718,153.13
(6) Translation difference of foreign currency financial statements	-46,151,546.95	-11,858,635.56
(7) Others
(II) Net-of-tax other comprehensive income attributable to the minority	14,914,342.05	-209,344.15
VII. Total comprehensive income	742,813,286.61	699,903,602.26
(I) Total comprehensive income attributable to the owners of the parent company	515,790,530.03	468,945,371.65
(II) Total comprehensive income attributable to the minority	227,022,756.58	230,958,230.61
VIII. Earnings per share:
(I) Basic earnings per share (Yuan/share)	0.23	0.20
(II) Diluted earnings per share (Yuan/share)	0.23	0.19

In case of the merger of enterprises under the same control occurring in the current period, thenet profit realized by the merged party before the merger shall be RMB 0.00, and the net profitrealized by the merged party in the previous period shall be RMB 0.00.Person in charge of Company: Deng Qidong Person in charge of financial affairs: QiWeidong Leading member of accounting body: Lin Jing

Consolidated Cash Flow Statement

January – March, 2023Prepared by: Xiamen Xiangyu Co., Ltd.

Unit: Yuan Currency: RMB Type of Audit: Unaudited

Item	First Quarter of 2023	First Quarter of 2022
I. Cash flow from operating activities:
Cash receiving from sales of goods and rendering of services	161,445,726,252.95	126,797,549,104.10
Net increase in customer deposit and deposit from other banks
Net increase in borrowing from central bank

Net increase in funds borrowed from other financial institutions
Cash obtained by receipt of premiums from original insurance contracts
Net cash received from reinsurance business
Net increase in deposit of insured and investment
Cash received from interests, handling charges, and commissions
Net increase in loans from other banks and other financial institutions
Net increase in funds for repurchase business
Net cash received from acting trading securities
Refund of tax received	100,061,058.88	69,170,235.62
Other cash received in relation to operating activities	778,975,019.50	821,475,293.61
Subtotal of cash inflow from operating activities	162,324,762,331.33	127,688,194,633.33
Cash paid for sales of goods and rendering of services	185,373,451,231.27	148,014,180,674.06
Net increase in customer loans and advances
Net increase in deposit in the Central Bank and other banks
Cash paid for claims under the original insurance contract
Net increase in lending to banks and other financial institutions
Cash paid for interest, handling charges, and commissions
Cash paid for policy dividend
Cash paid to and for the employees	991,795,117.37	769,905,821.40
Taxes paid	943,761,507.85	1,001,097,194.68
Other cash paid in relation to operating activities	823,258,168.04	1,402,574,726.05
Subtotal of cash outflow from operating activities	188,132,266,024.53	151,187,758,416.19
Net cash flow from operating activities	-25,807,503,693.19	-23,499,563,782.86
II. Cash flow from investment activities
Cash receiving from investment withdrawal	2,201,761,516.93	2,815,031,709.02
Cash receiving from return on investment	9,150,118.65	21,628,606.87
Net amount of cash receiving from disposal of fixed assets, intangible assets, and other long-term assets	2,259,547.06	2,418,724.81
Net amount of cash receiving from disposal of subsidiary and other business unit

Other cash receiving related to investment activities	103,357,101.97
Subtotal of cash inflow from investment activities	2,316,528,284.61	2,839,079,040.70
Cash paid to acquire fixed assets, intangible assets, and other long-term assets	617,540,147.28	47,912,781.48
Cash paid to acquire investment	453,960,846.20	3,716,506,074.95
Net increase in pledge loan
Net amount of cash paid to acquire subsidiary and other business unit
Other cash paid related to investment activities	1,361,883.92
Subtotal of cash outflow from investment activities	1,072,862,877.40	3,764,418,856.43
Net cash flow from investment activities	1,243,665,407.21	-925,339,815.73
III. Cash flow from financing activities:
Cash received from investment by others	1,721,513,100.00	1,545,600,000.00
Including: Cash received from subsidiary investments from minority shareholders	962,915,100.00	1,545,600,000.00
Cash receiving from borrowings	50,567,566,854.95	36,846,755,271.52
Other cash receiving related to financing activities	18,995,000.00
Subtotal of cash inflow from financing activities	52,308,074,954.95	38,392,355,271.52
Cash paid for repayment of debt	25,752,921,420.27	15,789,264,687.07
Cash paid for distribution of dividend, profit or payment of interest	622,303,520.11	555,994,678.23
Including: Dividend and profit paid by subsidiary to minority shareholders	236,769,395.05	140,422,043.53
Other cash paid relating to financing activities	4,612,981,946.71	1,754,829,690.69
Subtotal of cash outflow from financing activities	30,988,206,887.09	18,100,089,055.99
Net cash flow from financing activities	21,319,868,067.86	20,292,266,215.53
IV. Effect of exchange rate changes on cash and cash equivalents	-61,990,687.09	-9,132,444.15
V. Net increase in cash and cash equivalents	-3,305,960,905.21	-4,141,769,827.21
Add: Beginning balance of cash and cash equivalents	15,648,477,435.10	10,635,311,053.24
VI. Ending balance of cash and cash equivalents	12,342,516,529.89	6,493,541,226.03

Person in charge of Company: Deng Qidong Person in charge of financial affairs:

Qi Weidong Leading member of accounting body: Lin Jing

(3) The implementation of new accounting standards or the new interpretations to theaccounting standards since 2023 involves the adjustment of the financial statements at thebeginning of the year when they are implemented for the first time.

□ Applicable √ Not Applicable

It is hereby announced.

The Board of Directors of Xiamen Xiangyu Co., Ltd.

April 27, 2023