南玻B:2019年第一季度報告全文(英文版)
CSGHOLDINGCO.,LTD.
THEFIRSTQUARTERREPORT2019
ChairmanoftheBoard:
CHENLIN
April2019
SectionI ImportantNotice
BoardofDirectorsandtheSupervisoryCommitteeofCSGHoldingCo.,Ltd.(hereinafterreferredtoastheCompany)anditsdirectors,supervisorsandseniorexecutivesherebyconfirmthattherearenoanyfictitiousstatements,misleadingstatements,orimportantomissionscarriedinthisreport,andshalltakeallresponsibilities,individualand/orjoint,forthefacticity,accuracyandcompletenessofthewholecontents.
AlldirectorswerepresentatthemeetingoftheBoardfordeliberatingtheFirstQuarterReportoftheCompanyinperson.
Ms.ChenLin,ChairmanoftheBoard,Mr.WangJian,responsiblepersoninchargeoftheaccountingandMs.WangWenxin,principalofthefinancialdepartment(accountingofficer)confirmthattheFinancialReportenclosedintheFirstQuarterReport2019istrue,accurateandcomplete.
ThisreportispreparedbothinChineseandEnglish.ShouldtherebeanyinconsistencybetweentheChineseandEnglishversions,theChineseversionshallprevail.
SectionII ThebasicsituationoftheCompany
I.Mainaccountingdataandindices
Whetherthecompanyneedtoretroactivelyadjustorrestatethepreviousyear'saccountingdataornot
□Yes √N(yùn)o
The1stquarterof2019 The1stquarterof2018 Percentageofchange(%)
Operatingincome(RMB) 2,222,721,514 2,629,471,994 -15.47%
Netprofitattributabletoshareholdersof
thelistedcompany(RMB) 132,188,324 159,382,821 -17.06%
Netprofitattributabletoshareholdersof
thelistedcompanyafterdeducting 82,573,767 152,948,714 -46.01%
non-recurringgainsandlosses(RMB)
Netcashflowarisingfromoperating
activities(RMB) 136,317,362 60,223,706 126.35%
Basicearningspershare(RMB/Share) 0.05 0.06 -16.67%
Dilutedearningspershare(RMB/Share) 0.05 0.06 -16.67%
WeightedaverageROE(%) 1.44% 1.86% -0.42%
31March2019 31December2018 Percentageofchange(%)
Totalassets(RMB) 19,038,937,263 19,114,234,184 -0.39%
Netassetsattributabletoshareholderof
listedcompany(RMB) 9,241,889,126 9,103,154,571 1.52%
Thetotalsharecapitalofthecompanyasoftheprevioustradingdayofdisclosure:
Thetotalsharecapitalofthecompanyasoftheprevioustradingdayofdisclosure(share) 2,862,840,482
Fullydilutedearningspersharecalculatedwithlatestequity(RMB/share) 0.05
Note:Thetotalamountof436,719sharesofrestrictedstocksheldby8unqualifiedoriginalincentives,whichhadbeenrepurchasedbutnotyetcancelled,weredeductedfromthetotalsharecapital.
Itemsandamountsofextraordinaryprofit(gains)/losses
√Applicable □Notapplicable
Unit:RMB
Amountfrombeginningoftheyearto
Item Note
theendofthereportperiod
Gains/lossesfromthedisposalofnon-currentasset(includingthe
6,877,195
write-offthataccruedforimpairmentofassets)
Governmentalsubsidyreckonedintocurrentgains/losses(not
47,460,637
includingthesubsidyenjoyedinquotaorrationaccordingto
nationalstandards,whicharecloselyrelevanttoenterprise’s
business)
Lossandprofitonexternalentrustedloan 5,345,912
Othernon-operatingincomeandexpenditureexceptforthe
aforementioneditems -736,384
Othergains/lossessatisfieddefinitionofextraordinaryprofit
(gains)/loss -
Less:Impactonincometax 8,049,219
Impactonminorityshareholders’equity(post-tax) 1,283,584
Total 49,614,557 --
Duringthereportperiod,theCompanydidn’thavethecaseofextraordinaryprofit(gains)/lossdefinedasaregularprofitandlossproject,whichwasdefinedandenumeratedaccordingtothelistsofextraordinaryprofit(gain)/lossinQ&AAnnouncementNo.1onInformationDisclosureforCompaniesOfferingTheirSecuritiestothePublic---ExtraordinaryProfit/loss.
II.Totalofshareholdersattheendofthereportperiodandparticularsaboutthesharesheldbythetoptenshareholders
1.Thetotalnumberofcommonshareholdersandthenumberofpreferenceshareholderswithvotingrightsrecoveredaswellasthetoptenshareholders
Unit:Share
Thetotalnumberofcommonshareholders Thetotalnumberofpreferenceshareholderswithvoting
attheendofthereportperiod 149,447rightsrecoveredatendofreportperiod(ifapplicable) N/A
Particularsaboutthesharesheldbythetoptenshareholders
Numberofshare
Proportion Amountof pledged/frozen
Amountof
Nameofshareholder Natureofshareholder ofshares restricted
sharesheld Share
held(%) sharesheld Amount
status
ForeseaLifeInsuranceCo.,Ltd.�CHaili Domesticnonstate-owned
Niannian legalperson 14.81%423,988,067
ForeseaLifeInsuranceCo.,Ltd.�C Domesticnonstate-owned
3.76%107,659,097
UniversalInsuranceProducts legalperson
Domesticnonstate-owned
ShenzhenJushenghuaCo.,Ltd. legalperson 2.75% 78,757,679 Pledged63,000,000
ForeseaLifeInsuranceCo.,Ltd.�COwnDomesticnonstate-owned
2.06% 58,877,419
Fund legalperson
CentralHuijinAssetManagementLtd. State-ownedlegalperson 1.84% 52,650,444
ChinaGalaxyInternationalSecurities
Foreignlegalperson 1.30% 37,313,064
(HongKong)Co.,Limited
UBS AG Foreignlegalperson 1.14% 32,607,190
ChinaMerchantsSecurities(HK)Co.,
State-ownedlegalperson 1.03% 29,604,239
Limited
ShenzhenInternationalHoldings(SZ)
Limited State-ownedlegalperson 0.92% 26,450,000
VANGUARDEMERGINGMARKETS
Foreignlegalperson 0.61% 17,563,848
STOCKINDEXFUND
Particularaboutthetoptenshareholderswithun-restrictsharesheld
Amountofunrestricted Typeofshares
Shareholders’name sharesheldattheendof
theperiod Type Amount
ForeseaLifeInsuranceCo.,Ltd.�CHailiNiannian 423,988,067RMBordinaryshares 423,988,067
ForeseaLifeInsuranceCo.,Ltd.�CUniversalInsuranceProducts 107,659,097RMBordinaryshares 107,659,097
ShenzhenJushenghuaCo.,Ltd. 78,757,679RMBordinaryshares 78,757,679
ForeseaLifeInsuranceCo.,Ltd.�COwnFund 58,877,419RMBordinaryshares 58,877,419
CentralHuijinAssetManagementLtd. 52,650,444RMBordinaryshares 52,650,444
Domesticallylisted
ChinaGalaxyInternationalSecurities(HongKong)Co.,Limited 37,313,064 37,313,064
foreignshares
UBS AG 32,607,190RMBordinaryshares 32,607,190
Domesticallylisted
ChinaMerchantsSecurities(HK)Co.,Limited 29,604,239 29,604,239
foreignshares
ShenzhenInternationalHoldings(SZ)Limited 26,450,000RMBordinaryshares 26,450,000
Domesticallylisted
VANGUARDEMERGINGMARKETSSTOCKINDEXFUND 17,563,848 17,563,848
foreignshares
Amongshareholdersaslistedabove,ForeseaLifeInsuranceCo.,Ltd.-Haili
Niannian,ForeseaLifeInsuranceCo.,Ltd.-UniversalInsuranceProducts,Foresea
LifeInsuranceCo.,Ltd.-OwnFundareallheldbyForeseaLifeInsuranceCo.,Ltd.
ShenzhenJushenghuaCo.,Ltd.isarelatedlegalpersonofForeseaLifeInsurance
Statementonassociatedrelationshipor Co.,Ltd.andChengtaiGroupCo.,Ltd.,anotherrelatedlegalpersonofForeseaLife
consistentactionamongtheabove InsuranceCo.,Ltd,whichheld36,534,458sharesviaChinaGalaxyInternational
shareholders: Securities(HongKong)Co.,Limited.
Exceptfortheabove-mentionedshareholders,itisunknownwhetherother
shareholdersbelongtorelatedpartyorhaveassociatedrelationshipregulatedbythe
ManagementRegulationofInformationDisclosureonChangeofShareholdingfor
ListedCompanies.
Explanationonthetoptenshareholderswith
un-restrictsharesheldwhichinvolving N/A
marginbusiness(ifapplicable)
Whetherthetoptencommonshareholdersorthetoptencommonshareholdersholdingunrestrictedshareshadabuy-backagreementdealinginthereportperiodornot
□Yes √N(yùn)o
ThetoptencommonshareholdersorthetoptencommonshareholdersholdingunrestrictedsharesoftheCompanyhadnobuy-backagreementdealinginthereportperiod.
2.Thetotalnumberofpreferredshareholdersofthecompanyandparticularsaboutthetoptenpreferredshareholders
□Applicable √N(yùn)otapplicable
SectionIII.Importantevents
I.Particularsandexplanationsaboutsignificantchangesinmainaccountingstatementsandfinancialindices
√Applicable□Notapplicable
Unit:RMB0,000
Amountof Percentage
Note 31March2019 31December2018
change ofchange
Accountsreceivable (1) 92,781 59,223 33,558 57%
Assetsheldforsale (2) - 4,598 -4,598 -100%
Othercurrentassets (3) 13,756 44,533 -30,777 -69%
Billspayable (4) 27,500 10,515 16,985 162%
Payrollpayable (5) 12,525 26,646 -14,121 -53%
Interestpayable (6) 10,066 7,361 2,705 37%
Amountof Percentage
Note Jan.-Mar.2019 Jan.-Mar.2018
change ofchange
Assetimpairmentloss (7) 682 463 219 47%
Incomefromassetdisposal (8) 688 -102 790 -
Otherincome (9) 4,746 758 3,988 526%
Non-operatingincome (10) 69 220 -151 -69%
Non-operatingexpenses (11) 142 86 56 65%
Minorityshareholdergainsandlosses (12) 375 -36 411 -
Othercomprehensiveincome (13) -122 -203 81 -
Note:
(1)Theincreaseinaccountsreceivablewasmainlyduetotheincreaseinaccountsreceivableoftheglassindustry.
(2)Thedecreaseinassetsheldforsalewasmainlyduetothedisposalofassetsheldforsale.
(3)Thedecreaseinothercurrentassetswasmainlyduetotherecoveryofentrustedloansduringtheperiod.
(4)Theincreaseinbillspayablewasmainlyduetotheincreaseinnewbillsissuedduringtheperiod.
(5)Thedecreaseinpayrollpayableswasmainlyduetothepaymentoftheemployee'syear-endbonusaccruedattheendoflastyearwaspaidduringthereportperiod.
(6)Theincreaseininterestpayablewasmainlyduetothefactthatinterestpaymentformedium-termnoteshadnotbeenpaidintheperiodfortheywerenotdueyet.
(7)Theincreaseinassetimpairmentlosseswasmainlyduetotheincreaseinprovisionforbaddebtsofaccountsreceivable.
(8)Theincreaseinincomefromassetdisposalwasmainlyduetothedisposalofassetsheldforsaleduringtheperiod.
(9)Theincreaseinotherincomewasmainlyduetotheincreaseinamortizationofgovernmentsubsidies.
(10)Thedecreaseinnon-operatingincomewasmainlyduetoaslightdecreaseingovernmentgrantsduringtheperiod.
(11)Theincreaseinnon-operatingexpenseswasmainlyduetotheincreaseindonationexpenses.
(12)Theincreaseinminorityshareholders'gainsandlosseswasmainlyduetotheincreaseinnetprofitofsomesubsidiarieswith
minorityshareholders.
(13)Theincreaseinothercomprehensiveincomewasmainlyduetothechangeinthetranslationdifferenceofforeigncurrency
statements.
II.Theprogressandtheimpactofmaterialeventsandanalysisonthesolutions
√Applicable□Notapplicable
1.Short-termFinancingBills
OnDec.14,2016,thesecondextraordinaryshareholders’generalmeetingof2016ofCSGdeliberatedandapprovedtheproposaloftheofferingandregistrationofshort-termfinancingbills,andagreedtheCompany’sregistrationandissuanceofshort-termfinancingbillswithatotalamountofRMB2.7billion,whichcouldbeissuedbystageswithinperiodofvalidityoftheregistrationaccordingtotheCompany’sactualdemandsforfundsandthestatusofinter-bankfunds.However,thetermofeachissueshallnotbelongerthanoneyearandtheregisteredquotashallnotexceed40percentoftheCompany’snetassets.
2.Ultra-short-termfinancingbills
OnMay14,2018,theCompany’s2017annualshareholders’meetingdeliberatedandapprovedtheresolutionontheapplicationforregistrationandissuanceofultra-short-termfinancingbills,whichagreedthattheCompanyshouldregisterandissueultra-short-termfinancingbillswitharegisteredamountnotexceeding4billionyuan(notsubjecttotherestrictionthattheamountofultra-short-ermissuedshallnotexceed40%ofnetassets).Withtheperiodofvalidityofthequotanotlongerthantwoyears,suchultra-short-termfinancingbillswillbeissuedbyinstallmentsinaccordancewiththeactualcapitalneedsoftheCompanyandthesituationofinter-bankmarketfunds.OnSep.17,2018,theChineseAssociationofInterbankMarketTradersheldits63rdregistrationmeetingin2018,anddecidedtoapprovetheregistrationoftheultra-short-termfinancingbillswithatotalamountof1.5billionyuanandavalidityperiodoftwoyears.Theultra-short-termfinancingbillsareunderwrittenjointlybyMinshengBankofChinaLimitedandIndustrialBankCo.,Ltd,andcanbeissuedbyinstallmentswithinthevalidityperiodofregistration.
3.Perpetualbonds
OnApril15,2016,theShareholders’GeneralMeeting2015ofCSGdeliberatedandapprovedtheproposalofapplicationforregistrationandissuanceofperpetualbonds,andagreedtheCompanytoregisterandissueperpetualbondswithatotalamountofRMB3.1billionwhichcouldbeissuedbystageswithinperiodofvalidityoftheregistrationaccordingtotheCompany’sactu aldemandforfundsandthecapitalstatusofinter-bankmarket.
4.Medium-termnotes
On10December2014,theFirstExtraordinaryShareholders’GeneralMeeting2014ofCSGHoldingCo.,Ltddeliberatedandapprovedtheproposalofapplicationforregistrationandissuanceofmedium-termnoteswithatotalamountofRMB1.2billionatmost.On21May2015,NationalAssociationofFinancialMarketInstitutionalInvestors(NAFMII)heldthe32ndregistrationmeetingof2015,inwhichNAFMIIdecidedtoaccepttheregistrationoftheCompany’smedium-termnotes,amountingtoRMB1.2billionandvalidfortwoyears.ChinaMerchantsBankCo.,Ltd.andShanghaiPudongDevelopmentBankCo.,Ltd.werejointleadunderwritersofthesemedium-termnoteswhichcouldbeissuedbystageswithinperiodofvalidityoftheregistrationonJul.14,2015,theCompanyissuedthefirstphaseofmedium-termnoteswithatotalamountofRMB1.2billionandvalidtermof5yearsattheissuancerateof4.94%,whichwillberedeemedon14July2020.
OnApril15,2016,theShareholders’GeneralMeetingof2015ofCSGdeliberatedandapprovedtheproposalofapplicationforregistrationandissuanceofmedium-termnoteswithatotalamountofRMB0.8billion,whichcouldbeissuedbystageswithin
periodofvalidityoftheregistrationaccordingtotheCompany’sactualdemandsforfundsandthestatusofinter-bankfunds.On2March2018,NationalAssociationofFinancialMarketInstitutionalInvestors(NAFMII)heldthe14thregistrationmeetingof2018,inwhichNAFMIIdecidedtoaccepttheregistrationoftheCompany’smedium-termnotes,amountingtoRMB0.8billionandvalidfortwoyears.ShanghaiPudongDevelopmentBankCo.,Ltd.andChinaCITICBankCorporationLimitedwerejointleadunderwritersofthesemedium-termnoteswhichcouldbeissuedbystageswithinperiodofvalidityoftheregistration.OnMay4,2018,theCompanyissuedthefirstphaseofmedium-termnoteswithatotalamountofRMB0.8billionandvalidtermofthreeyearsattheissuancerateof7%,whichwillberedeemedonMay4,2021.
OnMay22,2017,theShareholders’GeneralMeetingof2016ofCSGdeliberatedandapprovedtheproposalofapplicationforregistrationandissuanceofmedium-termnoteswithatotalamountofRMB1billion,whichcouldbeissuedbystageswithinperiodofvalidityoftheregistrationaccordingtotheCompany’sactualdemandsforfundsandthestatusofinter-bankfunds.
Fordetails,pleaserefertowww.chinabond.com.cnandwww.chinamoney.com.cn.
5.Publicissuanceofcorporatebonds
OnMarch2,2017,the2ndExtraordinaryGeneralMeetingofShareholdersof2017deliberatedandapproved“theProposalonthePublicIssuanceofCorporateBondsforQualifiedInvestors".OnFebruary27,2019,theFirstExtraordinaryGeneralMeetingofShareholdersof2019deliberatedandapproved“theProposalonExtendingtheValidityoftheShareholders'MeetingResolutionforthePublicIssuanceofCorporateBondsforQualifiedInvestors”,andagreedtheCompanytoissuecorporatebondswithatotalissueofnomorethanRMB2billionandatermofnomorethan10years.
6.MeetingsofMedium-termnoteholdersduringthereportperiod
OnJanuary8,2019,theCompanyreleased“theAnnouncementonConveningof2015First-phaseofMedium-termNoteHolders'MeetingofCSGHoldingCo.,Ltd.”and“theAnnouncementonConveningof2018First-phaseofMedium-termNoteHolders'MeetingofCSGHoldingCo.,Ltd.”duetotheCompany’scapitalreductionfortherepurchaseandcancellationofsomerestrictedsharesoftherestrictedequityincentiveplan.OnJanuary22,2019,theCompany's2015first-phaseofmedium-termnoteholders’meetingand2018first-phaseofmedium-termnoteholders’meetingwereheldandvotedoff-site.The2015first-phaseofmedium-termnoteholders’meetingandthe2018first-phaseofmedium-termnoteholders’meetingdidnottakeeffectasthetotalvotingrightsheldbytheholdersattendingthemeetingdidnotreachtwo-thirdsofthetotalvotingrightsasrequired.
7.EntrustedLoan
OnDecember21,2018,theExtraordinaryMeetingofthe8thBoardofDirectorsdeliberatedandapproved“theProposalonProvidingExternalEntrustedLoans”. TheCompanyissuedanentrustedloanwithatotalamountofRMB0.3billiontoTengchongYuezhouWaterInvestmentDevelopmentCo.,Ltd.viaChinaEverbrightBankshenzhen(Nanshan)branch.Thevalidtermoftheentrustedloanwas3monthsanditsannualinterestratewas8.5%.OnMarch22,2019,theprincipalandincomeoftheabove-mentionedentrustedloanwasrepaidasagreedinthecontract.
Progressofimplementationofsharerepurchase
□Applicable √N(yùn)otapplicable
Progressofimplementationofthereductionoftherepurchasedsharesbymeansofcentralizedpricebidding
□Applicable √N(yùn)otapplicable
III.Failureinduefulfillmentofcommitmentsoftheactualcontrollers,shareholders,affiliates,andacquirersoflistedcompanyaswellasthelistedcompanyduringthereportperiod
□Applicable √N(yùn)otapplicable
Itdidnotexistthatcommitmentsoftheactualcontrollers,shareholders,affiliates,andacquirersoflistedcompanyaswellasthelistedcompanyfailedtobefulfilledontimeduringthereportperiod.
IV.PredictofthebusinessperformancefromJanuarytoJune2019
Warningsandreasonsofthepredictthatthecumulativenetprofitfromthebeginoftheyeartotheendofnextreportperiodmaybelossorhavegreatchangescomparingwiththesameperiodoflastyear
□Applicable √N(yùn)otapplicable
V.Securitiesinvestment
□Applicable √N(yùn)otapplicable
Therewasnosecuritiesinvestmentduringthereportperiod.
VI.Derivativeinvestment
□Applicable √N(yùn)otapplicable
Therewasnoderivativeinvestmentduringthereportperiod.
VII.Registrationformforreceivingresearch,communicationandinterviewduringthereportperiod
□Applicable √N(yùn)otapplicable
TheCompanydidnotreceiveanyresearch,communicationorinterviewsduringthereportperiod.
VIII.Particularsaboutillegalexternalguarantee
□Applicable √N(yùn)otapplicable
TheCompanyhadnoillegalexternalguaranteeinthereportperiod.
IX.Particularsaboutnon-operatingfundoflistedcompanywhichisoccupiedbycontrollingshareholderanditsaffiliatedenterprises
□Applicable √N(yùn)otapplicable
SectionIVFinancialReport
I.FinancialStatements
1.Consolidatedbalancesheet
PreparedbyCSGHoldingCo.,Ltd.
Unit:RMB
Item Endingbalance Beginningbalance
Currentasset:
MonetaryFund 2,367,406,487 2,226,447,720
Settlementprovisions
LendingstoBanksandOtherFinancialInstitutions
Transactionalfinancialassets
Financialassetsmeasuredatfairvaluethroughprofitor
loss
Derivativefinancialassets
Notesreceivableandaccountsreceivable 1,446,468,814 1,311,608,760
Incl.:Notesreceivable 518,658,477 719,375,448
Accountsreceivable 927,810,337 592,233,312
Prepayments 102,966,630 91,176,675
Premiumreceivable
Accountsreceivablereinsurance
Reserveforreinsurancereceivablecontracts
Otherreceivables 213,754,669 207,424,295
Incl.:Interestreceivable
Dividendreceivable
Buyingbackthesaleoffinancialassets
Stock 753,404,127 600,139,750
Contractassets
Assetsheldforsale 45,983,520
Non-currentassetsduewithinoneyear
Othercurrentassets 137,555,392 445,327,449
Totalcurrentassets 5,021,556,119 4,928,108,169
Non-currentassets:
Loansandadvances
Debtinvestment
Availableforsalefinancialassets
Otherdebtinvestment
Held-to-maturityinvestment
Long-termreceivables
Long-termequityinvestment
Investmentinotherequityinstruments
Othernon-currentfinancialassets
Investmentrealestate
Fixedassets 9,754,386,128 9,930,843,775
Constructioninprogress 2,578,710,963 2,559,179,442
Productivebiologicalassets
Oilandgasassets
Rightofuseassets
Intangibleassets 1,042,727,117 1,035,731,324
Developmentexpenditure 63,358,454 74,549,257
Goodwill 376,720,156 376,720,156
Long-termprepaidexpenses 12,278,598 12,746,609
Deferredtaxassets 135,084,054 139,529,518
Othernon-currentassets 54,115,674 56,825,934
Totalnon-currentassets 14,017,381,144 14,186,126,015
Totalassets 19,038,937,263 19,114,234,184
Currentliabilities:
Short-termloan 2,907,911,732 2,922,679,590
BorrowingfromtheCentralBank
Loansfromotherbanks
Transactionalfinancialliabilities
Financialliabilitiesmeasuredatfairvaluethroughprofit
orloss
Derivativefinancialliabilities
Notespayableandaccountspayable 1,407,340,246 1,315,009,263
Advancepayment 193,978,924 206,631,008
FinancialAssetsSoldforRepurchase
Absorbingdepositsandinterbankdeposits
Actingtradingsecurities
Actingunderwritingsecurities
Payrollpayable 125,250,903 266,459,151
Taxespayable 99,658,810 111,967,365
Otherpayables 514,488,917 552,751,187
Incl.:Interestpayable 100,660,637 73,612,703
Dividendpayable 2,827,373 2,846,362
Feesandcommissionspayable
Accountspayablereinsurance
Contractliability
Liabilitiesheldforsale
Non-currentliabilitiesduewithinoneyear 769,577,381 819,448,742
Othercurrentliabilities 300,000 300,000
Totalcurrentliabilities 6,018,506,913 6,195,246,306
Non-currentliabilities:
Insurancecontractreserve
Longtermloan 2,306,137,500 2,315,700,000
Bondspayable
Incl.:Preferredstock
Perpetualbond
Leaseliability
Long-termpayables 536,586,830 529,910,796
Long-termpayrollpay
Estimatedliabilities
Deferredincome 564,376,142 601,825,780
Deferredincometaxliabilities 21,412,781 22,118,840
Othernon-currentliabilities
Totalnon-currentliabilities 3,428,513,253 3,469,555,416
TotalLiabilities 9,447,020,166 9,664,801,722
Owners'equity:
Sharecapital 2,862,840,482 2,863,277,201
Otherequityinstruments
Incl.:Preferredstock
Perpetualbond
Capitalreserve 1,101,170,945 1,095,339,421
Less:treasuryshares 275,555,628 277,180,983
Othercomprehensiveincome 3,858,321 5,080,234
Specialreserves 6,816,584 6,068,600
Surplusreserve 924,305,375 924,305,375
Generalriskpreparation
Undistributedprofits 4,618,453,047 4,486,264,723
Totalowner'sequityattributabletotheparentcompany 9,241,889,126 9,103,154,571
Minorityshareholders'equity 350,027,971 346,277,891
Totalowner'sequity 9,591,917,097 9,449,432,462
TotalLiabilitiesandOwner'sEquity 19,038,937,263 19,114,234,184
LegalRepresentative：ChenLin Responsiblepersoninchargeoftheaccounting:WangJian
Principalofthefinancialdepartment:WangWenxin
2.BalanceSheetoftheParentCompany
Unit:RMB
Item Endingbalance Beginningbalance
Currentasset:
MonetaryFund 1,157,296,686 1,700,726,151
Transactionalfinancialassets
Financialassetsmeasuredatfairvaluethroughprofitor
loss
Derivativefinancialassets
Notesreceivableandaccountsreceivable
Incl.:Notesreceivable
Accountsreceivable
Prepayments 821,265 438,167
Otherreceivables 3,384,540,626 2,912,516,245
Incl.:Interestreceivable
Dividendreceivable
Stock
Contractassets
Assetsheldforsale
Non-currentassetsduewithinoneyear
Othercurrentassets 300,000,000
Totalcurrentassets 4,542,658,577 4,913,680,563
Non-currentassets:
Debtinvestment
Availableforsalefinancialassets
Otherdebtinvestment
Held-to-maturityinvestment
Long-termreceivables 1,200,000,000 1,200,000,000
Long-termequityinvestment 4,969,220,435 4,964,696,831
Investmentinotherequityinstruments
Othernon-currentfinancialassets
Investmentrealestate
Fixedassets 19,707,895 20,926,071
Constructioninprogress
Productivebiologicalassets
Oilandgasassets
Rightofuseassets
Intangibleassets 732,793 879,146
Developmentexpenditure
Goodwill
Long-termprepaidexpenses
Deferredtaxassets
Othernon-currentassets 1,711,338 732,038
Totalnon-currentassets 6,191,372,461 6,187,234,086
Totalassets 10,734,031,038 11,100,914,649
Currentliabilities:
Short-termloan 2,050,000,000 2,000,000,000
Transactionalfinancialliabilities
Financialliabilitiesmeasuredatfairvaluethroughprofit
orloss
Derivativefinancialliabilities
Notespayableandaccountspayable 150,209,636 261,024
Advancepayment
Contractliability
Payrollpayable 6,383,825 41,096,020
Taxespayable 2,223,489 1,099,231
Otherpayables 1,161,989,965 1,668,587,218
Incl.:Interestpayable 55,455,963 41,572,125
Dividendpayable 2,827,373 2,846,362
Liabilitiesheldforsale
Non-currentliabilitiesduewithinoneyear
Othercurrentliabilities
Totalcurrentliabilities 3,370,806,915 3,711,043,493
Non-currentliabilities:
Longtermloan 2,000,000,000 2,000,000,000
Bondspayable
Incl.:Preferredstock
Perpetualbond
Leaseliability
Long-termpayables
Long-termpayrollpay
Estimatedliabilities
Deferredincome 184,088,245 184,642,520
Deferredincometaxliabilities
Othernon-currentliabilities
Totalnon-currentliabilities 2,184,088,245 2,184,642,520
TotalLiabilities 5,554,895,160 5,895,686,013
Owners'equity:
Sharecapital 2,862,840,482 2,863,277,201
Otherequityinstruments
Incl.:Preferredstock
Perpetualbond
Capitalreserve 1,245,998,259 1,240,166,735
Less:treasuryshares 275,555,628 277,180,983
Othercomprehensiveincome
Specialreserves
Surplusreserve 938,850,735 938,850,735
Undistributedprofits 407,002,030 440,114,948
Totalowner'sequity 5,179,135,878 5,205,228,636
TotalLiabilitiesandOwner'sEquity 10,734,031,038 11,100,914,649
3.ConsolidatedIncomeStatement
Unit:RMB
Item Balanceofthisperiod Balanceoflastperiod
I.Totalrevenue 2,222,721,514 2,629,471,994
Incl.:Businessincome 2,222,721,514 2,629,471,994
Interestincome
Earnedpremium
Feeandcommissionincome
II.Totalbusinesscost 2,112,290,384 2,449,790,563
Incl.:Businesscost 1,710,257,358 1,983,212,565
Interestexpense
Feeandcommissionexpenses
Surrendervalue
Netreimbursementexpenditure
Netamountofwithdrawalofinsurancecontract
reserve
Expendituresdividendpolicy
AmortizedReinsuranceExpenditures
Taxesandsurcharges 26,974,283 37,091,336
Salesexpense 82,460,250 79,742,352
Managementcosts 123,978,598 171,498,676
Researchanddevelopmentexpenses 79,671,948 81,471,157
Financialexpenses 82,123,543 92,147,066
Incl.:Interestexpense 87,627,795 96,320,142
Interestincome 6,719,497 10,389,262
Assetimpairmentloss 6,824,404 4,627,411
Creditimpairmentloss
Plus:Otherincome 47,460,637 7,579,659
Investmentincome(“-“forloss)
Incl.:Investmentincomeinassociatesandjoint
ventures
Exchangegains (“-“forloss)
Netopenhedgeincome(“-“forloss)
Fairvaluechangeincome(“-“forloss)
Assetdisposalincome(“-“forloss) 6,877,195 -1,023,284
III.Operationalprofit(“-“forloss) 164,768,962 186,237,806
Plus:non-operationalincome 687,874 2,200,396
Less:non-operationalexpenses 1,424,258 861,285
IV.Grossprofit(“-“forloss) 164,032,578 187,576,917
Less:Incometaxexpenses 28,094,174 28,552,401
V.Netprofit(“-“fornetloss) 135,938,404 159,024,516
(I)Classificationbybusinesscontinuity
1.Netprofitfromcontinuousoperation(“-“fornetloss) 135,938,404 159,024,516
2.Discontinuedoperatingnetprofit(“-“fornetloss)
(II)Classificationbyownership
1.Netprofitattributabletotheownersofparentcompany 132,188,324 159,382,821
2.Minorshareholders’equity 3,750,080 -358,305
VI.Netafter-taxamountofothercomprehensiveincome -1,221,913 -2,029,007
Netafter-taxamountofothercomprehensiveincome
-1,221,913 -2,029,007
attributabletotheowneroftheparentcompany
(I)Othercomprehensiveincomethatcannotbe
reclassifiedintoprofitorloss
1.Re-measurethechangeinthedefinedbenefit
plan
2.Othercomprehensiveincomethatcannotbe
transferredtoprofitorlossundertheequitymethod
3.Changesinfairvalueofotherequityinstruments
investment
4.Changesinthefairvalueofthecompany'sown
creditrisk
5.Others
(II)Othercomprehensiveincomethatwillbereclassified
intoprofitorloss -1,221,913 -2,029,007
1.Othercomprehensiveincomethatcanbe
transferredtoprofitorlossundertheequitymethod
2.Changesinfairvalueofotherdebtinvestments
3.Gainsandlossesfromchangesinfairvalueof
available-for-salefinancialassets
4.Theamountoffinancialassetsreclassifiedinto
othercomprehensiveincome
5.Held-to-maturityinvestmentsreclassifiedas
gainsandlossesonavailable-for-salefinancialassets
6.Otherdebtinvestmentcreditimpairment
provisions
7.Cashflowhedgereserve
8.Foreign-currencyfinancialstatementtranslation
-1,221,913 -2,029,007
difference
9.Others
Netafter-taxamountofothercomprehensiveincome
attributabletominorityshareholders
VII.Totalcomprehensiveincome 134,716,491 156,995,509
Totalcomprehensiveincomeattributabletoownersofthe
130,966,411 157,353,814
Company
Totalcomprehensiveincomeattributabletominority
shareholders 3,750,080 -358,305
VIII.Earningspershare
(I)Basicearningspershare 0.05 0.06
(II)Dilutedearningspershare 0.05 0.06
LegalRepresentative：ChenLin Responsiblepersoninchargeoftheaccounting:WangJian
Principalofthefinancialdepartment:WangWenxin
4.IncomeStatementoftheParentCompany
Unit:RMB
Item Balanceofthisperiod Balanceoflastperiod
I.Operatingrevenue 20,108,542 14,497,732
Less:Businesscost
Taxesandsurcharges 220,610 125,403
Salesexpense
Managementcosts 22,307,483 36,644,195
Researchanddevelopmentexpenses 8,833
Financialexpenses 31,366,290 8,614,081
Incl.:Interestexpense 36,970,255 17,912,092
Interestincome 5,862,210 9,650,504
Assetimpairmentloss -3,481 761
Creditimpairmentloss
Plus:Otherincome 678,275 470,940
Investmentincome(“-“forloss)
Incl.:Investmentincomeinassociatesandjoint
ventures
Netopenhedgeincome(“-“forloss)
Fairvaluechangeincome(“-“forloss)
Assetdisposalincome(“-“forloss) 2,440
II.Operationalprofit(“-“forloss) -33,112,918 -30,413,328
Plus:non-operationalincome 127,450
Less:non-operationalexpenses
III..Grossprofit(“-“forloss) -33,112,918 -30,285,878
Less:Incometaxexpenses
IV.Netprofit(“-“fornetloss) -33,112,918 -30,285,878
(I) Netprofitfromcontinuousoperation(“-“fornetloss) -33,112,918 -30,285,878
(II) Discontinuedoperatingnetprofit(“-“fornetloss)
V.Netafter-taxamountofothercomprehensiveincome
(I)Othercomprehensiveincomethatcannotbe
reclassifiedintoprofitorloss
1.Re-measurethechangeinthedefinedbenefitplan
2.Othercomprehensiveincomethatcannotbe
transferredtoprofitorlossundertheequitymethod
3.Changesinfairvalueofotherequityinstruments
investment
4.Changesinthefairvalueofthecompany'sowncredit
risk
5.Others
(II)Othercomprehensiveincomethatwillbereclassified
intoprofitorloss
1.Othercomprehensiveincomethatcanbetransferredto
profitorlossundertheequitymethod
2.Changesinfairvalueofotherdebtinvestments
3.Gainsandlossesfromchangesinfairvalueof
available-for-salefinancialassets
4.Theamountoffinancialassetsreclassifiedintoother
comprehensiveincome
5.Held-to-maturityinvestmentsreclassifiedasgainsand
lossesonavailable-for-salefinancialassets
6.Otherdebtinvestmentcreditimpairmentprovisions
7.Cashflowhedgereserve
8.Foreign-currency financial statement translation
difference
9.Others
VI.Totalcomprehensiveincome -33,112,918 -30,285,878
VII.Earningspershare
(I)Basicearningspershare
(II)Dilutedearningspershare
5.ConsolidatedCashFlowStatement
Unit:RMB
Item Balanceofthisperiod Balanceoflastperiod
I.Netcashflowfrombusinessoperation:
Cashreceivedfromsalesofproductsandprovidingof
2,268,333,166 2,585,745,573
services
Netincreaseincustomerdepositsandinterbankdeposits
NetincreaseinborrowingfromtheCentralBank
Netincreaseindisbursementstootherfinancial
institutions
Cashreceivedfromthepremiumoftheoriginalinsurance
contract
Netcashreceivedfromreinsurancebusiness
Netincreaseofinsureddepositandinvestment
Disposalofthenetincreaseinfinancialassetsmeasuredat
fairvaluethroughprofitorloss
Cashchargedwithinterest,handlingfeesandcommissions
Netincreaseinfundsdisbursed
Netincreaseinrepurchasebusinessfunds
Netcashreceivedfromtradingsecurities
Refundsoftaxes 1,825,553 8,714,717
Receivedothercashrelatedtobusinessactivities 26,891,640 19,321,411
Subtotalofcashinflowfromoperatingactivities 2,297,050,359 2,613,781,701
Cashpaidforthepurchaseofgoodsandservices 1,445,370,845 1,794,681,827
Netincreaseincustomerloansandadvances
DepositofnetincreaseinCentralBankandinterbank
payments
Cashforpaymentoforiginalinsurancecontractclaims
Netincreaseinfinancialassetsheldfortradingpurposes
Netincreaseinfundsdismantled
Cashforpaymentofinterest,handlingfeesand
commissions
Cashpaidforpolicydividends
Cashpaidtoandforemployees 418,315,107 421,471,968
Paymentsofalltypesoftaxes 138,793,875 182,508,067
Paymentofothercashrelatedtobusinessactivities 158,253,170 154,896,133
Subtotalofcashoutflowfromoperatingactivities 2,160,732,997 2,553,557,995
Netcashflowfromoperatingactivities 136,317,362 60,223,706
II.Cashflowsfrominvestingactivities:
RecoveryofCashReceivedfromInvestment
Cashreceivedfrominvestmentincome
Netcashrecoveredfromdisposaloffixedassets,
intangibleassetsandotherlong-termassets 334,400 1,772,886
Netcashreceivedfromdisposalofsubsidiariesandother
businessunits
Othercashreceivedrelatingtoinvestingactivities 209,085 3,249,483
Subtotalofcashinflowsfrominvestmentactivities 543,485 5,022,369
Cashpaidforthepurchaseandconstructionoffixed
assets,intangibleassetsandotherlong-termassets 127,234,513 112,300,336
Cashforinvestmentpayments
Netincreaseinpledgeloans
Netcashpaidbysubsidiariesandotherbusinessunits
Othercashpaidrelatingtoinvestingactivities 606,824 14,102,400
Subtotalofcashoutflowsfrominvestmentactivities 127,841,337 126,402,736
Netcashflowsfrominvestingactivities -127,297,852 -121,380,367
III.Cashflowfromfinancingactivities:
Cashreceivedbyabsorbinginvestments
Incl.:Cashreceivedbysubsidiarycompaniestoabsorb
minorityshareholders'Investment
Cashreceivedfromtheloan 835,500,000 850,600,000
Cashreceivedfromtheissuanceofbonds
Otherfinancing-relatedcashreceived 500,000,000 303,833
Subtotalofcashinflowsfromfinancingactivities 1,335,500,000 850,903,833
Cashpaidfordebtrepayment 930,211,970 545,750,000
Cashpaidfordividends,profitsorinterestpayments 62,397,350 81,914,082
Incl.:Dividendsandprofitspaidbysubsidiariesto
minorityshareholders
Paymentofothercashrelatedtofinancingactivities 359,331,565 213,115,386
Subtotalofcashoutflowsfromfinancingactivities 1,351,940,885 840,779,468
Netcashflowfromfinancingactivities -16,440,885 10,124,365
IV.Influenceofexchangeratealternationoncashandcash
equivalents -1,620,779 -4,370,245
V.Netincreaseincashandcashequivalents -9,042,154 -55,402,541
Plus:Balanceofcashandcashequivalentsatthe
beginningofterm 2,225,126,913 2,459,753,165
VI.Balanceofcashandcashequivalentsattheendofterm 2,216,084,759 2,404,350,624
6.CashFlowStatementoftheParentCompany
Unit:RMB
Item Balanceofthisperiod Balanceoflastperiod
I.Netcashflowfrombusinessoperation:
Cashreceivedfromsalesofproductsandprovidingof
services
Refundsoftaxes
Receivedothercashrelatedtobusinessactivities 12,431,042 10,761,525
Subtotalofcashinflowfromoperatingactivities 12,431,042 10,761,525
Cashpaidforthepurchaseofgoodsandservices
Cashpaidtoandforemployees 51,404,986 38,812,139
Paymentsofalltypesoftaxes 1,047,643 701,230
Paymentofothercashrelatedtobusinessactivities 8,308,180 4,822,289
Subtotalofcashoutflowfromoperatingactivities 60,760,809 44,335,658
Netcashflowfromoperatingactivities -48,329,767 -33,574,133
II.Cashflowsfrominvestingactivities:
RecoveryofCashReceivedfromInvestment
Cashreceivedfrominvestmentincome
Netcashrecoveredfromdisposaloffixedassets,
intangibleassetsandotherlong-termassets 2,440
Netcashreceivedfromdisposalofsubsidiariesandother
businessunits
Othercashreceivedrelatingtoinvestingactivities
Subtotalofcashinflowsfrominvestmentactivities 2,440
Cashpaidforthepurchaseandconstructionoffixed
assets,intangibleassetsandotherlong-termassets 1,522,855 262,260
Cashforinvestmentpayments
Netcashpaidbysubsidiariesandotherbusinessunits
Othercashpaidrelatingtoinvestingactivities
Subtotalofcashoutflowsfrominvestmentactivities 1,522,855 262,260
Netcashflowsfrominvestingactivities -1,522,855 -259,820
III.Cashflowfromfinancingactivities:
Cashreceivedbyabsorbinginvestments
Cashreceivedfromtheloan 700,000,000 500,000,000
Cashreceivedfromtheissuanceofbonds
Otherfinancing-relatedcashreceived 152,171,097
Subtotalofcashinflowsfromfinancingactivities 700,000,000 652,171,097
Cashpaidfordebtrepayment 650,000,000 250,000,000
Cashpaidfordividends,profitsorinterestpayments 22,874,958 19,945,850
Paymentofothercashrelatedtofinancingactivities 670,685,645
Subtotalofcashoutflowsfromfinancingactivities 1,343,560,603 269,945,850
Netcashflowfromfinancingactivities -643,560,603 382,225,247
IV.Influenceofexchangeratealternationoncashandcash
-17,160 -33,040
equivalents
V.Netincreaseincashandcashequivalents -693,430,385 348,358,254
Plus:Balanceofcashandcashequivalentsatthe
1,699,514,334 1,680,672,390
beginningofterm
VI.Balanceofcashandcashequivalentsattheendofterm 1,006,083,949 2,029,030,644
II.NotetotheAdjustmentofFinancialStatements
Adjustmentoftherelevantfinancialstatementsatcurrentyearbeginningaccordingtonewstandardsforfinancialinstruments,thenewstandardsforrevenuesandthenewstandardsforleaseinitiallyimplemented
□Applicable √N(yùn)otapplicable
2.Notetotheretroactiveadjustmentofthepreviouscomparativedataaccordingtothenewstandardsforfinancialinstrumentsandthenewstandardsforleaseinitiallyimplemented
□Applicable √N(yùn)otapplicable
II.ReportoftheAuditors
WhethertheFirstQuarterReporthasbeenauditedornot
□Yes √N(yùn)o
TheFirstQuarterReporthasn’tbeenaudited.
BoardofDirectorsof
CSGHoldingCo.,Ltd.
26April2019
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