C&S Paper Co., Ltd. Third Quarter Report 2022
C&S Paper Co., Ltd.
Third Quarter Report 2022
The Company and all members of the Board of Directors hereby guarantee the truthfulness,
accuracy and completeness of the information disclosed, and there are no false and misleading
statements or material omissions.
Important Notice:
1. The Board of Directors and the Board of Supervisors of the Company and its directors,
supervisors and senior management warrant that the information contained in this quarterly report is
true, accurate and complete without any false and misleading statements or material omissions, and
severally and jointly accept legal liability thereof.
2. The person in charge of the Company, the person in charge of accounting of the Company, and
the person in charge of the accounting department of the Company have declared that they warrant
the truthfulness, accuracy and completeness of the financial statements set out in this quarterly
report.
Whether the Third Quarter Report has been audited
□ Yes √ No
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C&S Paper Co., Ltd. Third Quarter Report 2022
I. Main Financial Data
(I) Main accounting data and financial indicators
Whether the Company needs to perform retrospective adjustment or restatement of accounting data for previous years
□ Yes √ No
Beginning of the year
Changes over same period Changes over same
Current period to end of current
of previous year period of previous year
period
Operating income
1,746,327,067.87 -13.86% 6,113,945,181.48 -2.56%
(RMB)
Net profit attributable to
shareholders of the listed 46,869,615.07 -39.34% 274,509,320.42 -43.33%
company (RMB)
Net profit attributable to
shareholders of the listed
company after deducting 30,063,247.43 -61.06% 250,628,279.09 -47.37%
non-recurring profit and
loss (RMB)
Net cash flow from
operating activities —— —— 469,682,731.45 -46.57%
(RMB)
Basic earnings per share
0.04 -33.33% 0.21 -43.24%
(RMB/share)
Diluted earnings per
0.04 -33.33% 0.21 -43.24%
share (RMB/share)
Weighted average return
0.95% -0.57% 5.43% -4.32%
on net assets
End of current period End of previous year Changes over end of previous year
Total assets (RMB) 7,785,687,303.15 7,523,281,973.84 3.49%
Owner's equity
attributable to
5,092,706,229.74 4,903,552,661.58 3.86%
shareholders of the listed
company (RMB)
(II) Non-recurring items and amounts
√ Applicable □ Not applicable
Unit: RMB
Amount from beginning
Amount of current
Item of the year to end of Description
period
current period
Profits/losses from the disposal of non-current asset
(including the write-off that accrued for impairment 476,241.68 -1,847,059.87
of assets)
Governmental grants reckoned into current
profits/losses (not including grants enjoyed in quota
7,664,138.13 20,015,312.60
or ration according to national standards, which are
closely relevant to the company’s normal business)
Profits/losses from assets entrusted to others for
investment or management 183,493.42
Except for effectively hedging business related to
normal business operations of the Company, gain or
loss arising from the change in the fair value of -67,399.64 -67,399.64
financial assets held for trading, derivative financial
assets, financial liabilities held for trading, derivative
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C&S Paper Co., Ltd. Third Quarter Report 2022
financial liabilities, and other non-current financial
assets, as well as investment income or loss produced
from the disposal of the aforesaid financial assets and
liabilities
Other non-operating income and expenses except for
12,101,026.91 10,733,317.35
the aforementioned items
Less: Influence of income tax 3,367,639.44 5,136,622.53
Total 16,806,367.64 23,881,041.33 --
Details of other profit and loss items that meet the definition of non-recurring profit and loss:
□ Applicable √ Not applicable
The Company has no other profit and loss items that meet the definition of non-recurring profit and loss.
Descriptions where the Company defines any non-recurring profit and loss items listed in the No. 1 Explanatory Announcement on
Information Disclosure of Companies Offering Securities to the Public—Non-recurring Profit and Loss as recurring profit and loss
items during the reporting period
□ Applicable √ Not applicable
The Company did not define any non-recurring profit and loss items listed in the No. 1 Explanatory Announcement on Information
Disclosure of Companies Offering Securities to the Public—Non-recurring Profit and Loss as recurring profit and loss items during
the reporting period.
(III) Changes of main accounting data and financial indicators and reasons
√ Applicable □ Not applicable
(I)Balance sheet items
Notes receivable: This item recorded an increase of RMB6,389,631.97 or 274.58% in the reporting period
compared with the end of 2021, mainly owing to the increase in bank acceptance bills received from customers
during the reporting period.
Assets held for sale: This item recorded a decrease of RMB57,073,059.69 or 100.00% in the reporting period
compared with the end of 2021, mainly owing to the decrease of assets held for sale during the reporting period.
Other current assets: This item recorded an increase of RMB205,207,584.41 or 166.12% in the reporting period
compared with the end of 2021, mainly owing to the increase in the principals of wealth management products
during the reporting period.
Long-term deferred expenses: This item recorded a decrease of RMB5,654,858.01 or 33.73% in the reporting
period compared with the end of 2021, mainly owing to the decrease in long-term deferred items during the
reporting period.
Other non-current assets: This item recorded a decrease of RMB33,252,330.60 or 36.28% in the reporting period
compared with the end of 2021, mainly owing to the decrease in prepayments for engineering equipment during
the reporting period.
Short-term borrowing: This item recorded an increase of RMB201,500,000.00 or 100.00% in the reporting period
compared with the end of 2021, mainly owing to the increase in advance discount of bank acceptance bills during
the reporting period.
Tradable financial liabilities：This item recorded an increase of RMB65,000.00 or 100.00% in the reporting period
compared with the end of 2021, mainly owing to changes in financial instruments during the reporting period.
Contract liabilities: This item recorded a decrease of RMB77,778,697.79 or 47.32% in the reporting period
compared with the end of 2021, mainly owing to the decrease in advance received from customers during the
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C&S Paper Co., Ltd. Third Quarter Report 2022
reporting period.
Tax and fees payable: This item recorded a decrease of RMB53,846,632.28 or 50.24% in the reporting period
compared with the end of 2021, mainly owing to the decrease in value added tax during the reporting period.
Non-current liabilities due within one year: This item recorded an increase of RMB3,627,373.27 or 42.10% in the
reporting period compared with the end of 2021, mainly owing to the increase in lease liabilities due within one
year during the reporting period.
Non-current liabilities: This item recorded a decrease of RMB10,070,497.75 or 47.39% in the reporting period
compared with the end of 2021, mainly owing to the decrease of taxes to be charged off during the reporting
period.
Lease liabilities: This item recorded a decrease of RMB2,027,338.65 or 36.42% in the reporting period compared
with the end of 2021, mainly owing to the increase in the reclassification of lease liabilities to non-current
liabilities due within one year during the reporting period.
(II) Income statement items
Financial expenses: This item recorded an increase of RMB7,175,743.09 or 252.37% from the beginning of the
year to the end of the reporting period compared with the same period in 2021, mainly owing to the increase in
exchange losses and gains during the reporting period.
Other income: This item recorded an increase of RMB5,506,989.69 or 34.47% from the beginning of the year to
the end of the reporting period compared with the same period in 2021, mainly owing to the increase in
government subsidies during the reporting period.
Return on investment: This item recorded a decrease of RMB175,022.21 or 48.82% from the beginning of the
year to the end of the reporting period compared with the same period in 2021, mainly owing to the decrease in
returns on wealth management products during the reporting period.
Income from changes in fair value: This item recorded a decrease of RMB67,357.16 or 100.00% from the
beginning of the year to the end of the reporting period compared with the same period in 2021, mainly owing to
the changes of financial instruments during the reporting period.
Credit impairment loss: This item recorded a decrease of RMB7,745,525.49 or 2111.64% from the beginning of
the year to the end of the reporting period compared with the same period in 2021, mainly owing to the decrease
in accrued credit impairment losses of accounts receivable during the reporting period.
Return on disposal of assets: This item recorded a decrease of RMB273,669.12 or 88.38% from the beginning of
the year to the end of the reporting period compared with the same period in 2021, mainly owing to the increase in
the loss from fixed asset disposal during the reporting period.
Non-operating income: This item recorded an increase of RMB11,293,830.02 or 371.38% from the beginning of
the year to the end of the reporting period compared with the same period in 2021, mainly owing to the increase of
carbon emission quota revenue during the reporting period.
Non-operating expense: This item recorded a decrease of RMB3,168,084.17 or 33.34% from the beginning of the
year to the end of the reporting period compared with the same period in 2021, mainly owing to the decrease in
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C&S Paper Co., Ltd. Third Quarter Report 2022
donations during the reporting period.
Income tax expenses: This item recorded a decrease of RMB29,208,042.22 or 42.59% from the beginning of the
year to the end of the reporting period compared with the same period in 2021, mainly owing to the decrease in
total profit during the reporting period.
(III) Cash flow statement items
Net cash flows from operating activities: This item recorded a decrease of RMB409,440,357.47 or 46.57% from
the beginning of the year to the end of the reporting period compared with the same period in 2021, mainly owing
to the increase in payment for materials during the reporting period.
Net cash flows from financing activities: This item recorded an increase of RMB752,809,827.38 or 102.81% from
the beginning of the year to the end of the reporting period compared with the same period in 2021, mainly owing
to the decrease in payment of repurchased shares during the reporting period.
II. Shareholder Information
(I) Total number of ordinary shareholders, number of preferred shareholders whose voting rights were
resumed and shareholdings of top 10 shareholders
Unit: share
Total number of preferred
Total number of ordinary
shareholders whose voting
shareholders as at the end of the 135,254 0
rights were resumed at the end
reporting period
of the reporting period (if any)
Shareholdings of top 10 shareholders
Number of shares Pledged, marked or frozen
Name of Nature of Shareholding
Number of shares subject to selling
shareholder shareholder percentage (%) Share status Number of shares
restrictions
Guangdong Domestic
Zhongshun Paper non-state-owned 28.58% 375,655,958
Group Co., Ltd. legal person
Foreign legal
Chung Shun Co. 20.28% 266,504,789
person
Hong Kong
Foreign legal
Securities 3.65% 47,989,448
person
Clearing Co., Ltd.
Ernest Partners
Foreign legal
LLC -- Client 0.79% 10,402,100
person
funds
Domestic natural
Yue Yong 0.74% 9,665,241 7,248,930
person
Domestic natural
Deng Yingzhong 0.51% 6,752,811 5,064,608
person
# Zhongshan
Domestic
Xinda Investment
non-state-owned 0.47% 6,123,636
Management Co.,
legal person
Ltd.
Domestic natural
Deng Guanbiao 0.38% 4,957,473 3,718,105
person
Li Hong Domestic natural 0.33% 4,297,300 Pledged 4,200,000
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C&S Paper Co., Ltd. Third Quarter Report 2022
person
ABC — CSI
Smallcap 500 Others 0.29% 3,829,289
ETF
Shareholdings of top 10 shareholders not subject to selling restrictions
Type of shares
Name of shareholder Number of shares not subject to selling restrictions
Type of shares Number of shares
Guangdong Zhongshun Paper Group RMB-denominate
375,655,958 375,655,958
Co., Ltd. d ordinary shares
RMB-denominate
Chung Shun Co. 266,504,789 266,504,789
d ordinary shares
Hong Kong Securities Clearing Co., RMB-denominate
47,989,448 47,989,448
Ltd. d ordinary shares
RMB-denominate
Ernest Partners LLC — Client funds 10,402,100 10,402,100
d ordinary shares
# Zhongshan Xinda Investment RMB-denominate
6,123,636 6,123,636
Management Co., Ltd. d ordinary shares
RMB-denominate
Li Hong 4,297,300 4,297,300
d ordinary shares
RMB-denominate
ABC — CSI Smallcap 500 ETF 3,829,289 3,829,289
d ordinary shares
RMB-denominate
# Chen Ruiqiang 3,667,600 3,667,600
d ordinary shares
ICBC — CSI Main Consumer RMB-denominate
3,619,684 d ordinary shares 3,619,684
Staples ETF
RMB-denominate
Yuan Xuemei 3,592,000 3,592,000
d ordinary shares
1. Among the top 10 shareholders mentioned above, Guangdong Zhongshun Paper Group
Co., Ltd. and Chung Shun Co. are the enterprises controlled by actual controllers of the
Company, i.e. Deng Yingzhong, Deng Guanbiao and Deng Guanjie. That is, Guangdong
Description on the related Zhongshun Paper Group Co., Ltd. and Chung Shun Co. are related parties. Mr. Yue Yong is
relationship or parties an incumbent senior manager of the Company.
acting-in-concert arrangements
among the above shareholders 2. It is unknown to the Company whether there is related party relationship among other
shareholders, or whether there is acting-in-concert among other shareholders as stipulated in
the Administrative Measures for the Disclosure of Information on Changes in Shareholders'
Shareholding of Listed Companies.
1.The Company’s shareholder Zhongshan Xinda Investment Management Co., Ltd. holds
6,120,602 shares through a client credit transaction guarantee securities account.
Description on the top 10 2.The Company’s shareholder Chen Ruiqiang holds 843,500 shares through a client credit
shareholders’ participation in margin transaction guarantee securities account.
trading and securities lending (if Note: There is a special repurchase account “C&S Paper Special Repurchase Securities
any) Account” among the top 10 shareholders. As of the end of the reporting period, this
repurchase account held 26,758,987 shares, with a shareholding ratio of 2.04%. Pursuant to
relevant regulations, it is not included in the list of top 10 shareholders.
(II) Total number of preferred shareholders and shareholdings of top 10 preferred shareholders
□ Applicable √ Not applicable
III. Other Significant Matters
√ Applicable□ Not applicable
1. The Company reduced its registered capital and completed the industrial and commercial registration of
changes
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C&S Paper Co., Ltd. Third Quarter Report 2022
During the third unlock period for restricted shares in the first grant under the 2018 Stock Option and Restricted
Stock Incentive Plan, 34 incentive recipients were unable to unlock the shares since they left the Company; 37
incentive participants were unable to unlock all the shares since they passed the performance appraisal but failed
to get a full mark and therefore could only unlock shares proportioned to their mark; 1 incentive participant was
unable to unlock the shares since he failed to pass performance appraisal; 1 incentive participant has been elected
as the supervisor of the Company and therefore no longer has incentive qualification. As a result, the Company
had to repurchase and cancel 501,088 restricted shares that had been granted but not unlocked. The Company’s
registered capital decreased by RMB501,088, from RMB1,309,787,822 to RMB1,309,286,734. The Company’s
total share capital decreased from RMB1,309,787,822 to RMB1,309,286,734. In September 2022, the Company
has completed the industrial and commercial registration of changes in the above matters and obtained a new
business license. For details, please refer to the Announcement on Capital Reduction (Announcement No. 2022-38)
and Announcement on the Completion of Industrial and Commercial Change Registration (2022-49) disclosed by
the Company on http//www.cninfo.com.cn.
2. Deregistration of partial stock options of the Company
Before the exercise of the third phase of stock options granted for the first time in the Company's 2018 Stock
Option and Restricted Stock Incentive Plan, 273 incentive recipients were unable to exercise the options since
they left the Company; 6 incentive participant was unable to exercise the options since they failed to pass
performance appraisal; 452 incentive participants were unable to exercise the options since they passed the
performance appraisal but failed to get a full mark and therefore could only exercise options proportioned to their
mark. As a result, The Board of Directors of the Company agreed to deregister 633,088 stock options granted to
the 731 incentive participants but not yet exercised. In July 2022, the deregistration of the above 633,088 stock
options was completed upon the verification and confirmation of China Securities Depository and Clearing
Corporation Limited Shenzhen Branch. For details, please refer to the Announcement on Completion of
Cancellation of Some of the First Granted Stock Options of the Company's 2018 Stock Option and Restricted
Stock Incentive Plan (Announcement No. 2022-39) disclosed by the Company on http//www.cninfo.com.cn.
3. Changes in accounting policies of the Company
The Company makes corresponding changes according to the interpretation of relevant accounting standards for
business enterprises issued by the Ministry of Finance, which will not have a significant impact on the Company's
financial situation, operating results and cash flows. For details, please refer to the Announcement on Changes in
Accounting Policies (Announcement No. 2022-42) disclosed by the Company on http//www.cninfo.com.cn.
4. Election of non-independent directors of the fifth Board of Directors
According to the relevant provisions of the Articles of Association, the Company elected Yu Ep. Rachel Jing as a
non-independent director of the fifth Board of Directors. See the Announcement on Election of Non-Independent
Directors of the Fifth Board of Directors (Announcement No. 2022-45) disclosed by the Company on
http//www.cninfo.com.cn for details.
5. Investment in the establishment of holding subsidiaries
In order to further expand new business areas and promote the realization of the Company's long-term
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C&S Paper Co., Ltd. Third Quarter Report 2022
development strategic objectives, the Company, together with Guangzhou Zhihecheng New Material Technology
Co., Ltd., Guangdong Huichuang Zhiyuan Enterprise Management Co., Ltd. and Jiangmen Yutongda Trade Co.,
Ltd., established "Guangdong Huashun Material Technology Co., Ltd." to engage in the research, development,
production and sales of new low-carbon packaging paper based materials. For details, please refer to the
Announcement on the Establishment of Holding Subsidiaries and Related Transactions by Foreign Investment
(Announcement No. 2022-44), the Announcement on the Progress of the Establishment of Holding Subsidiaries
and Related Transactions by Foreign Investment (Announcement No. 2022-50), and the Announcement on the
Completion of Industrial and Commercial Registration of Holding Subsidiaries (Announcement No. 2022-51)
disclosed by the Company on http//www.cninfo.com.cn.
IV. Quarterly Financial Statements
(I) Financial statements
1. Consolidated balance sheet
Prepared by: C&S Paper Co., Ltd.
September 30, 2022
Unit: RMB
Item September 30, 2022 January 1, 2022
Current assets:
Monetary funds 1,055,076,073.52 875,052,493.12
Settlement reserve
Lending to banks and other
financial institutions
Tradable financial assets
Derivative financial assets
Notes receivable 8,716,692.17 2,327,060.20
Accounts receivable 845,651,292.34 1,177,831,399.28
Accounts receivable financing
Prepayments 47,468,018.60 36,685,769.73
Premium receivable
Reinsurance payables
Reinsurance contract reserves
receivable
Other receivables 14,709,806.97 12,353,794.41
Including: Interest receivable
Dividends receivable
Financial assets held under resale
agreements
Inventory 1,735,106,870.56 1,467,631,516.95
Contract assets
Assets held for sale 57,073,059.69
Non-current assets due within one
year
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C&S Paper Co., Ltd. Third Quarter Report 2022
Other current assets 328,738,464.37 123,530,879.96
Total current assets 4,035,467,218.53 3,752,485,973.34
Non-current assets:
Loans and advances to customers
Investments in creditor’s rights
Investments in other creditor’s
rights
Long-term receivable
Long-term equity investment
Investment in other equity
instruments
Other non-current financial assets
Investment property 32,060,818.59 33,138,481.74
Fixed assets 3,089,238,124.79 3,129,371,506.40
Construction work in progress 113,333,841.82 134,875,696.94
Productive biological assets
Oil & gas assets
Right-of-use assets 15,093,909.94 14,300,520.77
Intangible assets 216,515,448.68 168,453,928.11
Development expenses
Goodwill 64,654.15 64,654.15
Long-term deferred expenses 11,108,046.08 16,762,904.09
Deferred income tax assets 214,415,207.72 182,185,944.85
Other non-current assets 58,390,032.85 91,642,363.45
Total non-current assets 3,750,220,084.62 3,770,796,000.50
Total assets 7,785,687,303.15 7,523,281,973.84
Current liabilities:
Short-term borrowings 201,500,000.00
Borrowings from PBC
Placements from banks and other
financial institutions
Tradable financial liabilities 65,000.00
Derivative financial liabilities
Notes payable 376,775,684.18 334,969,632.58
Accounts payable 966,345,434.15 829,113,780.31
Payments received in advance
Contract liabilities 86,581,745.55 164,360,443.34
Proceeds from financial assets sold
under repo
Customer bank deposits and due to
banks and other financial institutions
Funds from securities trading
agency
Funds from securities underwriting
agency
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C&S Paper Co., Ltd. Third Quarter Report 2022
Employee remuneration payable 147,225,959.86 139,551,406.46
Tax and fees payable 53,338,178.69 107,184,810.97
Other payables 681,845,763.57 854,872,178.78
Including: Interests payable
Dividends payable 264,077.02 1,352,746.20
Transaction fee and commission
receivable
Reinsurance payable
Liabilities held for sale
Non-current liabilities due within
12,243,860.65 8,616,487.38
one year
Other current liabilities 11,180,115.54 21,250,613.29
Total current liabilities 2,537,101,742.19 2,459,919,353.11
Non-current liabilities:
Insurance contract reserves
Long-term borrowings
Bonds payable
Including: Preference shares
Perpetual bonds
Lease liabilities 3,538,589.49 5,565,928.14
Long-term payable
Long-term employee remuneration
payable
Provision
Deferred income 102,202,787.21 104,483,429.54
Deferred income tax liabilities 47,844,117.72 46,514,550.50
Other non-current liabilities
Total non-current liabilities 153,585,494.42 156,563,908.18
Total liabilities 2,690,687,236.61 2,616,483,261.29
Owner's equity:
Share capital 1,314,249,269.00 1,312,457,555.00
Other equity instruments
Including: Preference shares
Perpetual bonds
Capital reserve 955,312,310.29 940,742,686.19
Less: Treasury shares 695,407,782.57 722,243,283.39
Other comprehensive income
Special reserves
Surplus reserves 106,984,275.42 106,984,275.42
General reserves
Retained earnings 3,411,568,157.60 3,265,611,428.36
Total equity attributable to owners of
5,092,706,229.74 4,903,552,661.58
the parent company
Equities of minority shareholders 2,293,836.80 3,246,050.97
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C&S Paper Co., Ltd. Third Quarter Report 2022
Total owner's equity 5,095,000,066.54 4,906,798,712.55
Total liabilities and owners' equities 7,785,687,303.15 7,523,281,973.84
Legal representative: Liu Peng Person in charge of accounting: Dong Ye Person in charge of accounting department: Xu Xianjing
2. Consolidated income statement from beginning of the year to end of reporting period
Unit: RMB
Item Incurred in the current period Incurred in the prior period
I. Total Operating Income 6,113,945,181.48 6,274,852,727.25
Including: Operating income 6,113,945,181.48 6,274,852,727.25
Interest income
Gross earned premiums
Service charge and
commission income
II. Total Operating Cost 5,834,173,859.41 5,728,586,896.00
Including: Operating costs 4,126,031,197.39 3,893,455,731.93
Interest expenses
Service charge and
commission expenses
Surrender value
Net compensation expenses
Net appropriation of
insurance reserve
Policy dividends expenses
Reinsurance costs
Tax and surcharges 40,062,830.04 43,629,579.28
Selling expenses 1,230,116,807.88 1,385,553,454.23
Administrative expenses 284,607,914.39 261,274,849.11
R&D expenses 149,022,696.00 147,516,610.83
Finance expenses 4,332,413.71 -2,843,329.38
Including: Interest fees 1,920,599.68 1,272,593.21
Interest income 8,463,204.46 8,553,063.14
Plus: Other income 21,484,059.53 15,977,069.84
Return on investment ("-"
183,450.94 358,473.15
indicates loss)
Including: Return on
investment in associates and joint
ventures
Income from the
derecognition of financial assets
measured at amortized cost
Exchange gains ("-" indicates
loss)
Gains from net exposure
hedging ("-" indicates loss)
Gains from changes in fair
-67,357.16
value ("-" indicates loss)
Credit impairment losses ("-" 8,112,326.77 366,801.28
12
C&S Paper Co., Ltd. Third Quarter Report 2022
indicates loss)
Asset impairment losses ("-"
-3,577,954.39 -3,192,363.87
indicates loss)
Return on disposal of assets
-583,315.84 -309,646.72
("-" indicates loss)
III. Operating Profit ("-" indicates loss) 305,322,531.92 559,466,164.93
Plus: Non-operating income 14,334,881.42 3,041,051.40
Less: Non-operating expenditure 6,334,055.03 9,502,139.20
IV. Total Profit ("-" indicates total loss) 313,323,358.31 553,005,077.13
Less: Income tax expense 39,367,509.06 68,575,551.28
V. Net Profit ("-" indicates net loss) 273,955,849.25 484,429,525.85
i. Classified by operation continuity
1. Net profit from continued
273,955,849.25 484,429,525.85
operation ("-" indicates net loss)
2. Net profit from discontinued
operation ("-" indicates net loss)
ii. Classified by attribution of
ownership
1. Net profit attributable to owners
274,509,320.42 484,424,879.80
of the parent company
2. Minority shareholders' profits and
-553,471.17 4,646.05
losses
VI. Net Amount of Other Comprehensive
Income after Tax
Total other comprehensive after-tax net
income attributable to owners of the
parent company
i. Other comprehensive income not
able to be reclassified into the profit or
loss
1. Changes of
re-measurement of the defined benefit
plan
2. Other comprehensive
income that cannot be transferred into the
profit or loss under equity method
3. Changes in fair value of
investment in other equity instruments
4. Changes in fair value of
credit risk of the enterprise
5. Others
ii. Other comprehensive income
reclassified into the profit or loss
1. Other comprehensive
income to be transferred into the profit or
loss under equity method
2. Changes in fair value of
investment in other creditor's rights
3. Financial assets
reclassified into other comprehensive
income
4. Impairment provision for
credit of investment in other creditor's
rights
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C&S Paper Co., Ltd. Third Quarter Report 2022
5. Reserve of cash flow
hedge
6. Converted difference in
foreign currency financial statements
7. Others
Total other comprehensive after-tax net
income attributable to minority
shareholders
VII. Total Comprehensive Income 273,955,849.25 484,429,525.85
Total comprehensive income
attributable to owners of the parent 274,509,320.42 484,424,879.80
company
Total comprehensive income
-553,471.17 4,646.05
attributable to minority shareholders
VIII. Earnings per Share:
i. Basic earnings per share 0.21 0.37
ii. Diluted earnings per share 0.21 0.37
For business combinations of the current period under common control, the net profit realized by the combined party before the
combination is: RMB0.00; the net profit realized by the combined party in last period is: RMB0.00.
Legal representative: Liu Peng Person in charge of accounting: Dong Ye Person in charge of accounting department: Xu Xianjing
3. Consolidated cash flow statement from beginning of the year to end of reporting period
Unit: RMB
Item Incurred in the current period Incurred in the prior period
I. Cash Flows from Operating
Activities:
Cash received from sale of goods
6,395,491,203.09 6,360,944,202.22
or rendering of services
Net increase in deposits from
customers, banks and non-bank
financial institutions
Net increase in due to central
banks
Net increase in placements from
other financial institutions
Cash received from the premium
of direct insurance contracts
Net cash from reinsurance business
Net increase in deposits and
investment of the insured
Cash obtained from interest, net
fee and commission
Net increase in placements from
banks and other financial institutions
Net increase in repo service fund
Net cash from agent securities
trading
Tax rebates 10,557,160.49
Cash received related to other
110,658,657.33 57,981,575.27
operating activities
Sub-total of cash inflow from operating 6,516,707,020.91 6,418,925,777.49
14
C&S Paper Co., Ltd. Third Quarter Report 2022
activities
Cash paid for goods purchased and
4,213,402,596.24 3,837,395,641.87
services rendered
Net loans and advances to
customers
Net increase in deposits with the
central bank, banks and non-bank
financial institutions
Cash paid for claims of direct
insurance contracts
Net increase in placements with
banks and non-bank financial
institutions
Cash paid for interest, fee and
commission
Cash paid for dividends of the
insured
Cash paid to and on behalf of
706,102,343.54 631,740,057.84
employees
Tax payments 394,951,958.29 417,475,289.56
Cash payments related to other
732,567,391.39 653,191,699.30
operating activities
Sub-total of cash outflow from
6,047,024,289.46 5,539,802,688.57
operating activities
Net cash flows from operating activities 469,682,731.45 879,123,088.92
II. Cash Flows from Investing
Activities:
Cash from realization of
investment
Cash received from the return on
investments 188,274.88 358,473.15
Net cash received from the
disposal of fixed assets, intangible 10,460,566.39 10,642,476.47
assets, and other long-term assets
Net amount of cash received from
the disposal of subsidiaries and other
operating organizations
Cash received related to other
72,488,469.52 50,000,000.00
investing activities
Sub-total of cash inflow from investing
83,137,310.79 61,000,949.62
activities
Cash paid for the acquisition and
construction of fixed assets, intangible 274,331,683.32 523,456,060.94
assets, and other long-term assets
Cash paid for investments
Net increase in pledged loans
Net amount of cash paid for
acquisition of subsidiaries and other
operating organizations
Cash payments related to other
investing activities 210,000,000.00 8,000,000.00
Sub-total of cash outflow from
investing activities 484,331,683.32 531,456,060.94
Net cash flows from investing activities -401,194,372.53 -470,455,111.32
15
C&S Paper Co., Ltd. Third Quarter Report 2022
III. Cash Flows from Financing
Activities:
Cash received from capital
21,204,239.86 31,909,987.57
contribution
Including: Proceeds received by
subsidiaries from minority shareholders'
investment
Cash received from borrowings 280,500,000.00 187,245,860.18
Cash received related to other
financing activities
Sub-total of cash inflow from financing
301,704,239.86 219,155,847.75
activities
Cash paid for repayments of
79,000,000.00 167,703,551.03
borrowings
Cash payment for interest expenses
131,024,843.70 129,522,597.64
and distribution of dividends or profits
Including: Dividend and profit
paid by subsidiaries to minority
shareholders
Cash payments related to other
71,126,989.51 654,187,119.81
financing activities
Sub-total of cash outflow from
281,151,833.21 951,413,268.48
financing activities
Net cash flows from financing activities 20,552,406.65 -732,257,420.73
IV. Effect of Exchange Rate Changes on
Cash and Cash Equivalents 31,203,478.81 -3,507,754.36
V. Net Increase in Cash and Cash
Equivalents 120,244,244.38 -327,097,197.49
Plus: Opening balance of cash and
cash equivalents 797,797,675.70 1,050,034,135.72
VI. Closing Balance of Cash and Cash
Equivalents 918,041,920.08 722,936,938.23
(II) Report auditing
Whether the Third Quarter Report has been audited
□ Yes √ No
The Third Quarter Report of the Company has not been audited.
Board of Directors of C&S Paper Co., Ltd.
October 24, 2022
If there are any ambiguities, the Chinese version shall prevail.
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