Stock Code: 000012/200012 Short Form of Stock: Southern Glass A/B Notice No.:2022-019Bond Code: 149079 Short Form of Bond: 20 CSG 01
CSG Holding Co., Ltd.The First Quarter Report 2022
Important Notice:
1. Board of Directors and the Supervisory Committee and its directors, supervisors and seniorexecutives hereby confirm that the Quarter Report is authentic, accurate and complete and there areno any fictitious statements, misleading statements, or significant omissions carried in this report,and shall take individual and joint legal responsibilities.
2. Head of the Company, responsible person in charge of accounting and principal of the financialdepartment (accounting officer) confirm that the financial information in this Quarter Report isauthentic, accurate and complete.
3. Whether the First Quarter Report has been audited or not
□ Yes √ No
This report is prepared both in Chinese and English. Should there be any inconsistency between theChinese and English versions, the Chinese version shall prevail.I. Main financial data（I）Major accounting data and financial indicators
Whether it has retroactive adjustment or re-statement on previous accounting data
□Yes √No
The Company and all the members of the Board of Directors confirm that the informationdisclosed is authentic, accurate and complete, and there are no any fictitious statements, misleadingstatements or significant omissions carried in this report.
| The report period | The same period of the previous year | Year-on-year increase/decrease | |
| Operating income (RMB) | 2,785,709,687 | 3,006,832,539 | -7.35% |
| Net profit attributable to shareholders of the listed company (RMB) | 383,682,831 | 573,268,793 | -33.07% |
| Net profit attributable to shareholders of the listed company after deducting non-recurring | 336,240,261 | 572,808,470 | -41.30% |
| gains and losses (RMB) | |||
| Net cash flow arising from operating activities (RMB) | 102,057,062 | 341,291,798 | -70.10% |
| Basic earnings per share (RMB/Share) | 0.12 | 0.19 | -36.84% |
| Diluted earnings per share (RMB/Share) | 0.12 | 0.19 | -36.84% |
| Weighted average ROE (%) | 3.30% | 5.46% | -2.16% |
| End of the report period | End of the previous year | Increase/decrease at the end of the report period over the end of the previous year | |
| Total assets (RMB) | 20,699,582,452 | 19,939,364,510 | 3.81% |
| Net assets attributable to shareholders of the listed company (RMB) | 11,805,984,216 | 11,429,661,046 | 3.29% |
(II) Item and amount of non-recurring gains and losses
√Applicable □ Not applicable
Unit: RMB
| Item | Amount in the report period | Note |
| Gains/losses from the disposal of non-current asset (including the write-off that accrued for impairment of assets) | 3,068,799 | |
| Governmental subsidy reckoned into current gains/losses (not including the subsidy enjoyed in quota or ration according to national standards, which are closely relevant to enterprise’s business) | 46,614,460 | |
| In addition to the effective hedging business related to the normal business of the company, the profit and loss from changes in fair value arising from holding trading financial assets and trading financial liabilities, as well as the investment income obtained from the disposal of trading financial assets, trading financial liabilities and available for sale financial assets | 8,493,186 | |
| Reversal of provision for impairment of receivables that have been individually tested for impairment | 601,289 | |
| Other non-operating income and expenditure except for the aforementioned items | -961,899 | |
| Less: Impact on income tax | 9,039,153 | |
| Impact on minority shareholders’ equity (post-tax) | 1,334,112 | |
| Total | 47,442,570 | -- |
Particulars about other gains and losses that meet the definition of non-recurring gains and losses:
□ Applicable √ Not applicable
It did not exist that other profit and loss items met the definition of non-recurring gains and losses.
Explanation of the non-recurring gains and losses listed in the Explanatory Announcement No.1 on Information Disclosure for
Companies Offering their Securities to the Public - Non-recurring Gains and Losses as recurring gains and losses
□ Applicable √ Not applicable
It did not exist that non-recurring profit and loss items listed in the "Explanatory Announcement No. 1 on Information Disclosure ofCompanies Offering Securities to the Public - Non-recurring Profit and Loss" were defined as recurring profit and loss items in thereport period.(III) Statement of change in the major accounting data and financial indicators and the causes
√Applicable □ Not applicable
Unit: RMB
| Item of the Balance Sheet | Note | March 31, 2022 | December 31, 2021 | Percentage of change |
| Notes receivable | (1) | 3,118,469 | 19,220,984 | -84% |
| Accounts receivable | (2) | 973,020,406 | 730,525,687 | 33% |
| prepayments | (3) | 129,634,944 | 76,097,276 | 70% |
| Inventories | (4) | 1,516,472,480 | 1,093,805,525 | 39% |
| Other current assets | (5) | 182,463,523 | 140,705,298 | 30% |
| Short-term borrowings | (6) | 90,770,000 | 180,770,000 | -50% |
| Employee benefits payable | (7) | 237,455,537 | 426,212,979 | -44% |
| Other payables | (8) | 186,600,761 | 289,440,477 | -36% |
| Non-current liabilities due within one year | (9) | 2,529,405,242 | 503,820,548 | 402% |
| Long-term borrowings | (10) | 1,920,374,171 | 1,469,059,824 | 31% |
| Bonds payable | (11) | - | 1,996,587,330 | -100% |
| Lease liabilities | (12) | - | 220,138 | -100% |
| Special reserve | (13) | 476,574 | 7,296,397 | -93% |
| Item of Income Statement | Note | Jan.-Mar.2022 | Jan.-Mar.2021 | Percentage of change |
| Financial expenses | (14) | 30,893,854 | 46,480,853 | -34% |
| Investment income | (15) | 8,493,186 | 1,373,392 | 518% |
| Asset impairment loss | (16) | -1,456 | - | - |
| Income on disposal assets | (17) | 3,067,343 | -298,458 | - |
| Other income | (18) | 48,350,708 | 14,347,461 | 237% |
| Non-operating income | (19) | 1,658,098 | 2,976,619 | -44% |
| Non-operating expenses | (20) | 2,619,997 | 15,315,650 | -83% |
| Income tax expenses | (21) | 66,600,517 | 119,176,328 | -44% |
| Net after-tax amount of other comprehensive income | (22) | -539,838 | 885,753 | -161% |
Notes:
(1) The decrease in notes receivable was mainly due to the change of collection method of some subsidiaries and some wereconverted to accounts receivable due to non-performance by the drawer.
(2) The increase in accounts receivable was mainly due to the increase in accounts receivable from architectural glass Companies.
(3) The increase in prepayments was mainly due to the increase in prepayments for materials by some subsidiaries.
(4) The increase in inventories was mainly due to the increase in the inventory for the resumption of polysilicon production of thesubsidiary and changes in the pace of production and sales of the companies in the Glass Division.
(5) The increase in other current assets was mainly due to the increase in input tax to be deducted for some subsidiaries.
(6) The decrease in short-term borrowings was mainly due to the repayment of part of the borrowings.
(7) The decrease in employee benefits payable was mainly due to the year-end bonuses accrued in the previous year that were paidduring the report period.
(8) The decrease in other payables was mainly due to the payment of corporate bond interest during the report period.
(9) The increase in non-current liabilities due within one year was mainly due to the reclassification of bonds payable to non-currentliabilities due within one year.
(10) The increase in long-term borrowings was mainly due to the increase in borrowings for the projects.
(11) The decrease in bonds payable was mainly due to the reclassification of bonds payable to non-current liabilities due within oneyear.
(12) The decrease in lease liabilities was mainly due to the reclassification of lease liabilities to non-current liabilities due within oneyear
(13) The decrease in special reserve was mainly due to the write-off of special reserves by subsidiaries.
(14) The decrease in financial expenses was mainly due to the decrease in interest expenses.
(15) The increase in investment income was mainly due to the increase in income from structured deposits.
(16) The decrease in asset impairment loss was mainly due to the subsidiary's write-off of inventory depreciation reserves.
(17) The increase in income on disposal assets was mainly due to the increase in gains and losses from disposal of assets by somesubsidiaries.
(18) The increase in other income was mainly due to the increase in the amortization of deferred income of some subsidiaries.
(19) The decrease in non-operating income was mainly due to the decrease in claim income and the payments unable to pay, etc.
(20) The decrease in non-operating expenses was mainly due to the return of government subsidies in the previous period.
(21) The decrease in income tax expenses was mainly due to the decrease in total profits.
(22) The decrease in net after-tax amount of other comprehensive income was mainly due to changes in the translation differences inforeign currency statements.II. Information of shareholders(I) The total number of common shareholders and the number of preference shareholders with votingrights recovered as well as the top ten shareholders
Unit: Share
| The total number of common shareholders at the end of the report period | 157,188 | The total number of preference shareholders with voting rights recovered at end of report period (if applicable) | 0 |
| Particulars about the shares held by the top ten shareholders | |||
| Name of shareholder | Nature of shareholder | Proportion of shares held (%) | Amount of shares held | Amount of restricted shares held | Number of share pledged, marked or frozen | ||||
| Share status | Amount | ||||||||
| Foresea Life Insurance Co., Ltd. – HailiNiannian | Domestic non state-owned legal person | 15.19% | 466,386,874 | ||||||
| Foresea Life Insurance Co., Ltd. – Universal Insurance Products | Domestic non state-owned legal person | 3.86% | 118,425,007 | ||||||
| Bank of China Limited - China Merchants Ruiwen Hybrid Securities Investment Fund | Domestic non state-owned legal person | 2.85% | 87,416,306 | ||||||
| Zhongshan Runtian Investment Co., Ltd. | Domestic non state-owned legal person | 2.82% | 86,633,447 | Pledged | 86,630,000 | ||||
| Marked | 86,630,000 | ||||||||
| Frozen | 3,447 | ||||||||
| Foresea Life Insurance Co., Ltd. – Own Fund | Domestic non state-owned legal person | 2.11% | 64,765,161 | ||||||
| China Merchants Securities (HK) Co., Limited | State-owned legal person | 1.42% | 43,621,323 | ||||||
| China Galaxy International Securities (Hong Kong) Co., Limited | Foreign legal person | 1.34% | 41,219,778 | ||||||
| National Social Security Fund 110 Portfolio | Domestic non state-owned legal person | 1.13% | 34,667,149 | ||||||
| Ping An Bank Co., Ltd. - China Merchants Credit Suisse Steady Allocation Hybrid Securities Investment Fund | Domestic non state-owned legal person | 0.97% | 29,718,363 | ||||||
| China Life Insurance Company Limited - Traditional - General Insurance Products - 005L-CT001 Shen | Domestic non state-owned legal person | 0.83% | 25,361,164 | ||||||
| Particulars about the top ten shareholders with un-restrict shares held | |||||||||
| Name of shareholder | Amount of unrestricted shares held | Type of shares | |||||||
| Type | Amount | ||||||||
| Foresea Life Insurance Co., Ltd. – HailiNiannian | 466,386,874 | RMB ordinary shares | 466,386,874 | ||||||
| Foresea Life Insurance Co., Ltd. – Universal Insurance Products | 118,425,007 | RMB ordinary shares | 118,425,007 | ||||||
| Bank of China Limited - China Merchants Ruiwen Hybrid Securities Investment Fund | 87,416,306 | RMB ordinary shares | 87,416,306 | ||||||
| Zhongshan Runtian Investment Co., Ltd. | 86,633,447 | RMB ordinary shares | 86,633,447 | ||||||
| Foresea Life Insurance Co., Ltd. – Own Fund | 64,765,161 | RMB ordinary shares | 64,765,161 | |
| China Merchants Securities (HK) Co., Limited | 43,621,323 | Domestically listed foreign shares | 43,621,323 | |
| China Galaxy International Securities (Hong Kong) Co., Limited | 41,219,778 | Domestically listed foreign shares | 41,219,778 | |
| National Social Security Fund 110 Portfolio | 34,667,149 | RMB ordinary shares | 34,667,149 | |
| Ping An Bank Co., Ltd. - China Merchants Credit Suisse Steady Allocation Hybrid Securities Investment Fund | 29,718,363 | RMB ordinary shares | 29,718,363 | |
| China Life Insurance Company Limited - Traditional - General Insurance Products - 005L-CT001 Shen | 25,361,164 | RMB ordinary shares | 25,361,164 | |
| Statement on associated relationship or consistent action among the above shareholders: | Among shareholders as listed above, Foresea Life Insurance Co., Ltd.-HailiNiannian, Foresea Life Insurance Co., Ltd.-Universal Insurance Products, Foresea Life Insurance Co., Ltd.-Own Fund are all held by Foresea Life Insurance Co., Ltd. Zhongshan Runtian Investment Co., Ltd. is a related legal person of Foresea Life Insurance Co., Ltd. and Chengtai Group Co., Ltd., another related legal person of Foresea Life Insurance Co., Ltd, which held 40,187,904 shares via China Galaxy International Securities (Hong Kong) Co., Limited. Except for the above-mentioned shareholders, it is unknown whether other shareholders belong to related party or have associated relationship regulated by the Management Regulation of Information Disclosure on Change of Shareholding for Listed Companies. | |||
| Explanation on the top ten shareholders which involving margin business (if applicable) | N/A | |||
(II) The total number of preferred shareholders of the company and particulars about the top tenpreferred shareholders
□ Applicable √ Not applicable
III. Statement on other important matters
√Applicable □ Not applicable
(I) Ultra-short-term financing bills
On June 15, 2020, the Third Extraordinary Shareholders’ General Meeting 2020 of CSG reviewed and approved the proposal onapplication for registration and issuance of ultra-short-term financing bills and medium-term notes, which agreed that the Companyshould register and issue ultra-short-term financing bills with a registered amount not exceeding 1.5 billion yuan (the limit is notsubject to the limit of 40% of net assets).With the period of validity of the quota not longer than two years, such ultra-short-termfinancing bills will be issued by installments in accordance with the actual capital needs of the Company and the situation ofinter-bank market funds. On September 4, 2020, the NAFMII held its 102nd registration meeting in 2020 and decided to accept theCompany's registration of ultra-short-term financing bills with a total of 1.5 billion yuan and a validity period of two years.(II) Medium-term notes
On June 15, 2020, the Third Extraordinary Shareholders’ General Meeting 2020 of CSG reviewed and approved the proposal on
application for registration and issuance of ultra-short-term financing bills and medium-term notes, which agreed that the Companyshould register and issue medium-term notes with a registered amount not exceeding 1.5 billion yuan. With the period of validity ofthe quota not longer than two years, such medium-term notes will be issued by installments in accordance with the actual capitalneeds of the Company and the situation of inter-bank market funds. On September 4, 2020, the NAFMII held its 102nd registrationmeeting in 2020 and decided to accept the Company's registration of medium-term notes with a total of 1.5 billion yuan and avalidity period of two years.(III) Public issuance of corporate bondsOn March 2, 2017, the Second Extraordinary Shareholders’ General Meeting 2017 reviewed and approved the “Proposal on thePublic Issuance of Corporate Bonds for Qualified Investors". On February 27, 2019, the First Extraordinary Shareholders’ GeneralMeeting 2019 reviewed and approved the “Proposal on Extending the Validity Period of the Shareholders' General Meeting for thePublic Offering of Corporate Bonds to Qualified Investors”, which agreed that the Company should issue corporate bonds with atotal issue of no more than RMB 2 billion and a term of no more than 10 years. On June 26, 2019, the Company received the“Approval of Approving CSG Holding Co., Ltd. to Issue Corporate Bonds to Qualified Investors” issued by China SecuritiesRegulatory Commission (ZJXK [2019] No. 1140). On March 24, 2020 and March 25, 2020, the Company issued the first batch ofcorporate bonds with total amount of RMB 2 billion and valid term of 3 years at the issuance rate of 6%, which will be redeemed onMarch 25, 2023.IV. Quarterly financial statements(I) Financial statements
1. Consolidated Balance Sheet
Prepared by CSG Holding Co., Ltd.
March 31, 2022
Unit: RMB
| Item | Ending balance | Opening balance |
| Current asset: | ||
| Monetary Fund | 2,307,789,914 | 2,765,925,906 |
| Tradable financial assets | 998,160,000 | 999,600,000 |
| Notes receivable | 3,118,469 | 19,220,984 |
| Accounts receivable | 973,020,406 | 730,525,687 |
| Receivables financing | 231,764,980 | 297,046,123 |
| Prepayments | 129,634,944 | 76,097,276 |
| Other receivables | 185,837,560 | 183,696,711 |
| Inventories | 1,516,472,480 | 1,093,805,525 |
| Other current assets | 182,463,523 | 140,705,298 |
| Total current assets | 6,528,262,276 | 6,306,623,510 |
| Non-current assets: |
| Investment real estate | 383,084,500 | 383,084,500 |
| Fixed assets | 9,109,757,144 | 8,566,515,026 |
| Construction in progress | 2,327,437,036 | 2,461,088,650 |
| Right-of-use asset | 9,472,983 | 9,911,935 |
| Intangible assets | 1,177,909,939 | 1,167,611,402 |
| Development expenditure | 89,148,220 | 72,019,362 |
| Goodwill | 130,147,859 | 130,147,859 |
| Long-term prepaid expenses | 3,271,426 | 3,013,721 |
| Deferred tax assets | 252,213,065 | 255,185,923 |
| Other non-current assets | 688,878,004 | 584,162,622 |
| Total non-current assets | 14,171,320,176 | 13,632,741,000 |
| Total assets | 20,699,582,452 | 19,939,364,510 |
| Current liabilities: | ||
| Short-term borrowings | 90,770,000 | 180,770,000 |
| Notes payable | 442,671,687 | 400,662,713 |
| Accounts payable | 1,720,920,759 | 1,428,851,312 |
| Contract liability | 386,426,568 | 335,188,642 |
| Employee benefits payable | 237,455,537 | 426,212,979 |
| Taxes payable | 131,565,273 | 185,009,681 |
| Other payables | 186,600,761 | 289,440,477 |
| Incl.: Interest payable | 5,616,409 | 95,001,362 |
| Non-current liabilities due within one year | 2,529,405,242 | 503,820,548 |
| Other current liabilities | 45,293,406 | 40,099,309 |
| Total current liabilities | 5,771,109,233 | 3,790,055,661 |
| Non-current liabilities: | ||
| Long-term borrowings | 1,920,374,171 | 1,469,059,824 |
| Bonds payable | 1,996,587,330 | |
| Lease liabilities | 220,138 | |
| Long-term accounts payable | 147,148,057 | 168,258,062 |
| Deferred income | 529,711,379 | 564,129,128 |
| Deferred income tax liabilities | 84,465,617 | 84,580,132 |
| Total non-current liabilities | 2,681,699,224 | 4,282,834,614 |
| Total Liabilities | 8,452,808,457 | 8,072,890,275 |
| Owners' equity: |
| Share capital | 3,070,692,107 | 3,070,692,107 |
| Capital reserve | 596,997,085 | 596,997,085 |
| Other comprehensive income | 158,660,692 | 159,200,530 |
| Special reserves | 476,574 | 7,296,397 |
| Surplus reserve | 1,144,887,510 | 1,144,887,510 |
| Undistributed profits | 6,834,270,248 | 6,450,587,417 |
| Total owner's equity attributable to the parent company | 11,805,984,216 | 11,429,661,046 |
| Minority shareholders' equity | 440,789,779 | 436,813,189 |
| Total owner's equity | 12,246,773,995 | 11,866,474,235 |
| Total Liabilities and Owner's Equity | 20,699,582,452 | 19,939,364,510 |
Legal Representative: Chen Lin, Responsible person in charge of the accounting: Wang Jian, Principal of the financial department:
Wang Wenxin
2. Consolidated Income Statement
Unit: RMB
| Item | Amount incurred in the report period | Amount incurred in the previous period |
| I. Total operating revenue | 2,785,709,687 | 3,006,832,539 |
| Incl. :Business income | 2,785,709,687 | 3,006,832,539 |
| II. Total business cost | 2,385,993,949 | 2,306,236,702 |
| Incl.: Business cost | 1,996,135,271 | 1,884,970,395 |
| Taxes and surcharges | 29,430,897 | 33,969,707 |
| Sales expense | 62,182,177 | 59,878,963 |
| Management costs | 155,690,153 | 176,841,412 |
| Research and development expenses | 111,661,597 | 104,095,372 |
| Financial expenses | 30,893,854 | 46,480,853 |
| Incl. : Interest expense | 43,766,699 | 56,228,887 |
| Interest income | 14,681,526 | 11,013,336 |
| Plus: Other income | 48,350,708 | 14,347,461 |
| Investment income (“-” for loss) | 8,493,186 | 1,373,392 |
| Credit impairment loss (“-” for loss) | -4,406,594 | -6,144,938 |
| Asset impairment loss (“-” for loss) | 1,456 | |
| Income on disposal assets (“-” for loss) | 3,067,343 | -298,458 |
| III. Operational profit (“-” for loss) | 455,221,837 | 709,873,294 |
| Plus: non-operating income | 1,658,098 | 2,976,619 |
| Less: non-operating expenses | 2,619,997 | 15,315,650 |
| IV. Gross profit (“-” for loss) | 454,259,938 | 697,534,263 |
| Less: Income tax expenses | 66,600,517 | 119,176,328 |
| V. Net profit (“-” for net loss) | 387,659,421 | 578,357,935 |
| (I) Classification by business continuity | ||
| 1. Net profit from continuous operation(“-” for net loss) | 387,659,421 | 578,357,935 |
| 2. Discontinued operating net profit(“-” for net loss) | ||
| (II) Classification by ownership | ||
| 1. Net profit attributable to the owner of the parent company | 383,682,831 | 573,268,793 |
| 2. Minor shareholders’ equity | 3,976,590 | 5,089,142 |
| VI. Net after-tax amount of other comprehensive income | -539,838 | 885,753 |
| Net after-tax amount of other comprehensive income attributable to the owner of the parent company | -539,838 | 885,753 |
| (I) Other comprehensive income that will be reclassified into profit or loss | -539,838 | 885,753 |
| 1. Foreign-currency financial statement translation difference | -539,838 | 885,753 |
| VII. Total comprehensive income | 387,119,583 | 579,243,688 |
| Total comprehensive income attributable to owners of the Company | 383,142,993 | 574,154,546 |
| Total comprehensive income attributable to minority shareholders | 3,976,590 | 5,089,142 |
| VIII. Earnings per share | ||
| (I) Basic earnings per share | 0.12 | 0.19 |
| (II) Diluted earnings per share | 0.12 | 0.19 |
Legal Representative: Chen Lin, Responsible person in charge of the accounting: Wang Jian, Principal of the financial department:
Wang Wenxin
3. Consolidated Cash Flow Statement
Unit: RMB
| Item | Amount incurred in the report period | Amount incurred in the previous period |
| I. Net cash flow from business operation: | ||
| Cash received from sales of products and providing of services | 2,975,194,851 | 2,989,003,056 |
| Refunds of taxes | 6,174,213 | 1,578,830 |
| Received other cash related to business activities | 45,200,715 | 33,650,668 |
| Subtotal of cash inflow from operating activities | 3,026,569,779 | 3,024,232,554 |
| Cash paid for the purchase of goods and services | 1,997,455,533 | 1,743,026,747 |
| Cash paid to and for employees | 592,412,995 | 527,402,580 |
| Payments of all types of taxes | 232,790,434 | 274,884,499 |
| Payment of other cash related to business activities | 101,853,755 | 137,626,930 |
| Subtotal of cash outflow from operating activities | 2,924,512,717 | 2,682,940,756 |
| Net cash flow from operating activities | 102,057,062 | 341,291,798 |
| II. Cash flows from investing activities: | ||
| Cash received from returns on investment | 1,149,600,000 | 550,000,000 |
| Cash received from returns on investment income | 8,095,668 | 1,373,392 |
| Net cash received from the disposal of fixed assets, intangible assets and other long-term assets | 978,036 | 356,696 |
| Cash received relating to other investing activities | 16,753,461 | |
| Subtotal of cash inflows from investment activities | 1,158,673,704 | 568,483,549 |
| Cash paid for the purchase and construction of fixed assets, intangible assets and other long-term assets | 784,088,536 | 234,168,691 |
| Cash paid for investment | 1,148,160,000 | 640,000,000 |
| Cash paid relating to other investing activities | 5,319,802 | 5,206,030 |
| Subtotal of cash outflows from investing activities | 1,937,568,338 | 879,374,721 |
| Net cash flows from investing activities | -778,894,634 | -310,891,172 |
| III. Cash flow from financing activities: | ||
| Cash received from the loan | 489,156,004 | 143,434,231 |
| Other financing-related cash received | 20,000 | |
| Subtotal of cash inflows from financing activities | 489,156,004 | 143,454,231 |
| Cash paid for debt repayment | 100,000,000 | 149,972,571 |
| Cash paid for dividends, profits or interest payments | 144,617,231 | 132,691,808 |
| Payment of other cash related to financing activities | 23,817,019 | 316,663 |
| Subtotal of cash outflows from financing activities | 268,434,250 | 282,981,042 |
| Net cash flow from financing activities | 220,721,754 | -139,526,811 |
| IV. Influence of exchange rate alternation on cash and cash equivalents | 68,620 | 202,866 |
| V. Net increase in cash and cash equivalents | -456,047,198 | -108,923,319 |
| Plus: Balance of cash and cash equivalents at the beginning of term | 2,756,477,572 | 2,124,028,196 |
| VI. Balance of cash and cash equivalents at the end of term | 2,300,430,374 | 2,015,104,877 |
(II) Report of the AuditorsWhether the First Quarter Report has been audited or not
□ Yes √ No
The First Quarter Report hasn’t been audited.
Board of Directors ofCSG Holding Co., Ltd.29 April 2022