CSG HOLDING CO., LTD.
THE FIRST QUARTER REPORT 2015
Chairman of the Board:
ZENG NAN
April 2015
CSG HOLDING CO., LTD. The First Quarter Report 2015
I. Important Notice
Board of Directors and the Supervisory Committee of CSG Holding Co., Ltd. (hereinafter referred to as the
Company) and its directors, supervisors and senior executives hereby confirm that there are no any fictitious
statements, misleading statements, or important omissions carried in this report, and shall take all responsibilities
jointly and severally, for the truthfulness, accuracy and completeness of the whole contents.
All directors are present the meeting of the Board for deliberating the First Quarter Report of the Company in
person.
Chairman of the Board of the Company Mr. Zeng Nan, CFO Mr. Luo Youming and principal of the financial
department Mr. Zhang Guoming hereby confirm the truthfulness and completeness of the Financial Report in the
First Quarter Report of 2015.
This report is prepared both in Chinese and English. Should there be any inconsistency between the Chinese and
English versions, the Chinese version shall prevail.
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CSG HOLDING CO., LTD. The First Quarter Report 2015
Section II Main accounting data and Changes in Shareholders
I. Main accounting data and indices
Whether retrospective adjustment has been carried out on financial reports of previous periods or not
□Yes √ No
The 1st quarter of 2015 The 1st quarter of 2014 Percentage of change (%)
Operating income (RMB) 1,539,206,800 1,482,894,670 3.80%
Net profit attributable to shareholders of the
82,201,310 123,051,443 -33.20%
listed company(RMB)
Net profit attributable to shareholders of the
listed company after deducting non-recurring 29,979,957 108,589,698 -72.39%
gains and losses(RMB)
Net cash flow arising from operating
37,738,405 90,191,987 -58.16%
activities(RMB)
Basic earnings per share (RMB/Share) 0.0396 0.0593 -33.22%
Diluted earnings per share (RMB/Share) 0.0396 0.0593 -33.22%
The weighted average return on net assets (%) 0.98% 1.52% -0.54%
31 March 2015 31 December 2014 Percentage of change (%)
Total assets (RMB) 15,361,037,178 15,116,808,305 1.62%
Net assets attributable to shareholder of listed
8,490,615,365 8,348,561,765 1.70%
company(RMB)
Items and amounts of extraordinary profit (gains)/loss
√Applicable □ Not applicable
Unit: RMB
Amount from beginning of the year
Item Note
to the end of the report period
Gains/losses from the disposal of non-current asset (including the write-off that
2,847,302
accrued for impairment of assets)
Governmental subsidy reckoned into current gains/losses (not including the
subsidy enjoyed in quota or ration according to national standards, which are 14,999,805
closely relevant to enterprise’s business)
Gains on disposal of available-for-sale financial assets, gains and losses from
change of fair values of held-for-transaction financial assets and financial
liabilities except for the effective hedge business related to normal business of the 37,582,746
Company, and investment income from disposal of transactional financial assets
and liabilities and financial assets available for sale
2
CSG HOLDING CO., LTD. The First Quarter Report 2015
Other non-operating income and expenditure except for the aforementioned items 1,111,480
Less: Impact on income tax 3,074,613
Impact on minority shareholders’ equity (post-tax) 1,245,367
Total 52,221,353 --
Explain reasons for the extraordinary profit (gain)/loss defined by Q&A Announcement No.1 on Information Disclosure for
Companies Offering Their Securities to the Public --- Extraordinary Profit/loss, and the items defined as recurring profit (gain)/loss
according to the lists of extraordinary profit (gain)/loss in Q&A Announcement No.1 on Information Disclosure for Companies
Offering Their Securities to the Public --- Extraordinary Profit/loss
□Applicable √Not applicable
It does not exist that items defined as recurring profit (gain)/loss according to the lists of extraordinary profit (gain)/loss in Q&A
Announcement No.1 on Information Disclosure for Companies Offering Their Securities to the Public --- Extraordinary Profit/loss.
II. Total of shareholders at the end of the report period and particulars about the shares held
by the top ten shareholders
1. Total of shareholders at the end of the report period and particulars about the shares held by the top ten
shareholders
Unit: Share
Total of shareholders at the end of the report period 173,146
Particulars about shares held by the top ten shareholders
Amount of Number of share
Proportion
Amount of restricted pledged/frozen
Name of shareholder Nature of shareholder of shares
shares held shares Amoun
held (%) Share status
held t
Foresea Life Insurance Co., Ltd- Universal Domestic non state-owned
3.92% 81,405,744 0
Insurance products legal person
China Northern Industries Corporation State-owned legal person 3.62% 75,167,934 0
Xin Tong Chan Industrial Development Domestic non state-owned
2.62% 54,459,899 0
(Shenzhen) Co., Ltd. legal person
Shenzhen International Holdings Domestic non state-owned
2.34% 48,605,713 0
(Shenzhen) Co., Ltd. legal person
China Merchants Securities (HK) Co., Ltd. State-owned legal person 1.21% 25,209,137 0
CITIC Securities Company Limited State-owned legal person 1.03% 21,450,727 0
BBH A/C VANGUARD EMERGING
Foreign legal person 0.74% 15,311,292 0
MARKETS STOCK INDEX FUND
GUOTAIJUNAN
Foreign legal person 0.69% 14,231,158 0
SECURITIES(HONGKONG) LIMITED
Hua Xia Bank Co., Ltd. – Huashang Dapan Domestic non state-owned 0.44% 9,176,898 0
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CSG HOLDING CO., LTD. The First Quarter Report 2015
quantize selected Flexibly Configured Mix legal person
Securities Investment Fund
GIC PRIVATE LIMITED Foreign legal person 0.40% 8,329,614 0
Particular about top ten shareholders with un-restrict shares held
Amount of Type of shares
Shareholders’ name un-restrict shares
Type Amount
held at Period-end
Foresea Life Insurance Co., Ltd- Universal Insurance products 81,405,744 RMB ordinary shares 81,405,744
China Northern Industries Corporation 75,167,934 RMB ordinary shares 75,167,934
Xin Tong Chan Industrial Development (Shenzhen) Co., Ltd. 54,459,899 RMB ordinary shares 54,459,899
Shenzhen International Holdings (Shenzhen) Co., Ltd. 48,605,713 RMB ordinary shares 48,605,713
Domestically listed
China Merchants Securities (HK) Co., Ltd. 25,209,137 25,209,137
foreign shares
CITIC Securities Company Limited 21,450,727 RMB ordinary shares 21,450,727
BBH A/C VANGUARD EMERGING MARKETS STOCK INDEX Domestically listed
15,311,292 15,311,292
FUND foreign shares
Domestically listed
GUOTAIJUNAN SECURITIES(HONGKONG) LIMITED 14,231,158 14,231,158
foreign shares
Hua Xia Bank Co., Ltd. – Huashang Dapan quantize selected
9,176,898 RMB ordinary shares 9,176,898
Flexibly Configured Mix Securities Investment Fund
Domestically listed
GIC PRIVATE LIMITED 8,329,614 8,329,614
foreign shares
Among shareholders as listed above, Shenzhen International Holdings (Shenzhen)
Co., Ltd. and Xin Tong Chan Development (Shenzhen) Co., Ltd. are holding
Statement on associated relationship or
enterprises and belong to controlling enterprise of Shenzhen International Holdings
consistent action among the above
Co., Ltd. Except for this, It is unknown whether other shareholders belong to related
shareholders:
party or have associated relationship regulated by the Management Regulation of
Information Disclosure on Change of Shareholding for Listed Companies.
Explanation on shareholders involving
margin business about top ten common
N/A
shareholders with un-restrict shares held(if
applicable)
Whether top ten common shareholders or top ten common shareholders with un-restrict shares held have a buy-back agreement
dealing in reporting period
□ Yes √ No
The top ten common shareholders or top ten common shareholders with un-restrict shares held of the Company have no buy-back
agreement dealing in reporting period.
4
CSG HOLDING CO., LTD. The First Quarter Report 2015
Section III Important Events
I. Particulars and explanations about significant changes in main accounting statement and
financial indexes
√Applicable □ Not applicable
Unit: RMB’0,000
Note 31 March 2015 31 December 2014 Amount of change Percentage of change
Account receivable (1) 49,063 31,827 17,236 54%
Inventory (2) 52,607 39,065 13,542 35%
Development expenditure (3) 2,453 1,768 685 39%
Note payable (4) 2,050 350 1,700 486%
Wages payable (5) 8,282 15,904 -7,622 -48%
Note Jan.-Mar.2015 Jan.-Mar.2014 Amount of change Percentage of change
Investment earnings (6) 1,673 638 1,035 162%
Income tax expenses (7) 127 3,549 -3,422 -96%
Net profit (8) 8,981 13,319 -4,338 -33%
Other comprehensive income (9) 5,953 1,035 4,918 475%
Note:
(1) Account receivable increased mainly because business of architectural glass was impacted by centralized delivery of products
after the spring festival while payback period of which was not matured.
(2) Inventory increased mainly because inventory of the flat glass increased for Macro Economy continued depression.
(3)The increase of development expenditure was mainly due to the increase of investment for R&D in the Year.
(4)Note payable increased mainly because notes newly issued increased slightly in the report period and the balance was lower in
previous period.
(5) Wages payable decreased mainly because the year-end bonus for employees which accrued at end of last year was paid in the
report period.
(6) Investment earnings increased mainly because the earnings from sales of the financial assets available for sale increased in the
report period.
(7) Income tax expenses decreased mainly because profit declined in the report period and some subsidiaries of the Company applied
to a preferential income tax rate for receiving the qualification certificate of High and New-Tech Enterprise in the Year.
(8) The decrease of net profit was mainly due to the impact of continued depression in economy and decline of product prices.
(9) Other comprehensive income increased mainly because fair value of the Group’s financial assets available for sale changed in the
report period.
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CSG HOLDING CO., LTD. The First Quarter Report 2015
II. The progress of material events and the analysis of the solutions
√Applicable □ Not applicable
1. Plan of domestically listed foreign shares converting listing location to list and trade on the Main Board of Stock Exchange of
Hong Kong by Means of Introduction
The proposal of domestically listed foreign shares converting listing location to list and trade on the Main Board of Stock Exchange
of Hong Kong by Means of Introduction was deliberated and approved by the interim meeting of the 7th session of the Board of the
Company on 22 April 2015.
The Board agreed B-share converting listing location to list and trade on the Main Board of Stock Exchange of Hong Kong by Means
of Introduction.
The implement for the above items shall need deliberation and approval from the 2nd meeting of the Board, approval by shareholders’
meeting, verification, confirmation or approved by regulators,Stock Exchange of Hong Kong and China Securities Regulatory
Commission, and approvals from other government departments and authorities (if necessary).
2. Plan of non-public offering of A-share
Proposals of non-public offering of A-share to specific investors etc. were deliberated and approved by the interim meeting of the 7th
session of the Board on 22 April 2015.
The Company plans to exercise equity financing by means of non-public offering of A-share. The total amount of non-public offering
of A-share was 179,977,502 shares, 67,491,563 shares of which was specifically issued to China Northern Industries Corporation,
and 112,485,939 shares of which was specifically issued to Foresea Life Insurance Co., Ltd.
The A shares subscribed by China Northern Industries Corporation and Foresea Life Insurance Co., Ltd. in this plan are not allowed
to be transferred within 36 months from the listing date.
Pricing benchmark is the announcement day of board resolution for this issue. The offering price is RMB 8.89/share, no less than 90%
of the average trading price of 20 trading days before pricing benchmark. Offering price shall be adjusted if issues such as dividends,
bonus shares, capital reserve and other ex dividend issues occurred before offering.
The total amount of raised funds of non-public offering of A-share is no more than RMB1.6 billion, and the net capital will be used
for the following investment projects after issuance costs deduced:
Unit: RMB’0,000
Overall Plan to use the amount
Serial No. Project Practice subject
investment of raised funds
Update and expanding & reforming project for
1 Yichang CSG 61,322.01 61,322.00
the electronic-grade Polysilicon of Yichang CSG
Production line construction project of the
2 Qingyuan CSG 43,666.00 43,666.00
high-alumina glass of Qingyuan CSG
3 Repayment of bank loans The Company 20,000.00 20,000.00
4 Supplement working capital The Company 35,012.00 35,012.00
Total 160,000.01 160,000.00
Relevant events concerned with non-public offering of A-share need to acquire approvals from the shareholders’ meeting, China
Securities Regulatory Commission and other related authorities.
6
CSG HOLDING CO., LTD. The First Quarter Report 2015
3. Short-term Financing Bonds
On 6 August 2012, the First Extraordinary Shareholders’ General Meeting 2012 of CSG Holding Co., Ltd deliberated and approved
the proposal of short-term financing bills offering with application of short-term financing bill within RMB 2.2 billion limit. On 11
January 2013, National Association of Financial market Institutional Investors held its 1st registration meeting of 2013, in which
NAFMII decided to accept the Company’s short-term financing bills registration, amounting to RMB 1.1 billion, valid until January
25, 2015. China Merchants Bank Co., Ltd, and Shanghai Pudong Development Bank Co., Ltd were joint lead underwriters of these
short-term financing bills, which could be issued by stages within the validity period of registration. On 7 March 2013, the Company
issued the 1st batch of short-term financing bills with a total amount of RMB 1.1 billion and deadline of one year, and cashed
completed on 6 March 2014. On 27 June 2014, the Company continued to issue the 2nd batch of short-term financing bills for the
year with a total amount of RMB 700 million and annual interest rate of 5.10%, and the expiry date is 27 June 2015. On 25 August
2014, the Company continued to issue the 3rd batch of short-term financing bills for the year with a total amount of RMB 400
million and annual interest rate of 5.10%, and the expiry date is 25 August 2015.
On 23 April 2013, annual general meeting of 2012 of CSG Holding Co., Ltd deliberated and approved the proposal of short-term
financing bills offering with application of short-term financing bills with a total amount of no more than 40 percent of the
Company’s net assets (the issued short-term financing bills included). On 20 December 2013, National Association of Financial
market Institutional Investors held its 74th registration meeting of 2013, in which NAFMII decided to accept the Company’s
short-term financing bills registration, amounting to RMB 1.1 billion, valid for two years. China CITIC Bank Corporation Limited
and Agricultural Bank of China Co., Ltd were joint lead underwriters of these short-term financing bills, which could be issued by
stages within the validity period of registration. On 14 March 2014, the Company issued short-term financing bills with a total
amount of RMB 0.5 billion and deadline of one year, which was redeemed on 16 March 2015. On 22 April 2015, the Company
issued the 1st batch of short-term financing bills for the year of 2015 with a total amount of RMB 0.6 billion and annual interest rate
of 4.28%, and the expiry date is 23 April 2016.
For details, please refer to www.chinabond.com.cn and www.chinamoney.com.cn.
III. Commitments made by the Company or shareholders holding above 5% shares of the
Company in reporting period or extending to reporting period.
√Applicable □ Not applicable
Commit- Commit-
Implement-
Commitments Promisee Content of commitments ment ment
ation
date term
The original The Company has implemented share merger reform in
non-tradable May 2006. Till June 2008, the share of the original
By the end of
shareholder non-tradable shareholders which holding over 5% total
the report
Shenzhen shares of the Company had all released. Therein, the
period, the
International original non-tradable shareholder Shenzhen International
above
Holdings Holdings (SZ) Limited and Xin Tong Chan Industrial
Commitments for 2006-5- shareholders of
(SZ) Development (Shenzhen) Co., Ltd. both are N/A
Share Merger Reform 22 the Company
Limited and wholly-funded subsidiaries to Shenzhen International
had strictly
Xin Tong Holdings Limited (hereinafter Shenzhen International for
carried out
Chan short) listed in Hong Kong united stock exchange main
their promises.
Industrial board. Shenzhen International made commitment that it
Developmen would strictly carry out related regulations of Securities
t (Shenzhen) Law, Administration of the Takeover of Listed Companies
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CSG HOLDING CO., LTD. The First Quarter Report 2015
Co., Ltd. Procedures and Guiding Opinions on the Listed
Companies’ Transfer of Original Shares Released from
Trading Restrictions issued by CSRC during
implementing share decreasingly-held plan and take
information disclosure responsibility timely.
Commitments in
report of acquisition
or equity change
Commitments in
assets reorganization
Commitments in
initial public offering
or re-financing
Other commitments
for medium and small
shareholders
Completed on time or
Yes
not
Detail reasons for
unfinished
Not applicable
commitment and
further plan
IV. Predict of the business performance from January to June 2015
Warnings and reasons of the predict that the cumulative net profit from the begin of the year to the end of next report period may be
loss or have great changes comparing with the same period of last year
□Applicable √ Not applicable
V. Securities Investment
□ Applicable √ Not applicable
There was no securities investment in the report period.
VI. Explanation on equity of other listed company held
√Applicable □ Not applicable
The Company now holds 8,660,829 shares of the Golden Glass, and has 4.01% voting right of Golden Glass. Directors and key
managers of Golden Glass are not appointed by the Company, the Company doesn’t participate or impact finance and operation
decision-making or routine operation activities of Golden Glass in other way, thus, the Company shows no major influence on
Golden Glass, so the shares held by the Company is calculated as equity instrument available for sale.
In the report period, the Company sold 5,709,171 shares of Golden Glass and the return on investment was RMB 25,558,847.
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CSG HOLDING CO., LTD. The First Quarter Report 2015
VII. Derivative investment
□ Applicable √ Not applicable
There was no derivative investment in the report period.
VIII. Registration form for receiving research, communication and interview in the report
period
√Applicable □ Not applicable
Type of Contents discussed and
Date Place Method Investor
investors materials supplied
Shenzhen JunHai Investment Management Co., Ltd., Chian
Galaxy Securities Co., Ltd., China Galaxy International Introduced the
The Field
2015-1-19 Institution Financial Holding Limited, Shenzhen Minsen Investment operation condition of
Company research
Co., Ltd., and Springs (Beijing) Investment Management Co., the Company disclosed
Ltd.
Guotai Junan Securities, Anbang Asset Management Co.,
Ltd., Yinhua Fund Management Co., Ltd., Guangdong Yinshi
Investment Co., Ltd., Jixiang Life Insurance Co., Ltd., Introduced the
The Field
2015-1-20 Institution Shenzhen Qianhai Black Swan Asset Management Co., Ltd. operation condition of
Company research
Beijing Yuanxu Equity Investment Fund Management Co., the Company disclosed
Ltd., Shenzhen Taihe Investment Management Co., Ltd.,
Jingxi Startup Mansion and First Capital Securities Co., Ltd.
KHAZANAH NASIONAL, Cathay Securities Investment
Introduced the
The Field Trust Co., Ltd., Jirong Asset Management Co., Ltd., Zexi
2015-1-26 Institution operation condition of
Company research Investment Management Co., Ltd. and CITIC Securities Co.,
the Company disclosed
Ltd.
9
CSG HOLDING CO., LTD. The First Quarter Report 2015
Section IV Financial Report
I. Financial Statements
I. Financial Statements
Prepared by CSG Holding Co., Ltd.
Unit: RMB
Items Ending balance Beginning balance
Current asset:
Monetary capital 135,468,984 158,139,050
Settlement provision
Outgoing call loan
Financial assets measured at fair value of which changes
are recorded in current profits and losses
Derivative financial assets
Notes receivable 129,463,872 155,588,629
Account receivable 490,628,687 318,274,574
Prepayment 74,369,698 84,231,553
Insurance receivable
Reinsurance receivable
Provisions of Reinsurance contracts receivable
Interest receivable
Dividend receivable
Other account receivable 27,781,893 25,973,156
Repurchasing of financial assets
Inventories 526,072,983 390,652,618
Assets held for sale
Non-current asset due in 1 year
Other current asset 219,663,261 219,908,717
Total of current asset 1,603,449,378 1,352,768,297
Non-current assets
Disburse of consigned loans
Available-for-sale financial asset 159,359,254 145,568,100
Expired investment in possess
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CSG HOLDING CO., LTD. The First Quarter Report 2015
Long-term receivable
Long-term share equity investment 742,871,404 751,623,543
Investment real estates
Fixed assets 10,041,259,053 9,851,117,915
Construction in process 1,734,158,957 1,934,595,736
Engineering goods
Fixed asset disposal
Production physical assets
Gas & petrol
Intangible assets 938,021,170 946,586,310
R&D expense 24,530,690 17,675,656
Goodwill 3,039,946 3,039,946
Long-term amortizable expenses 2,138,334 2,391,824
Differed income tax asset 104,549,908 103,781,894
Other non-current asset 7,659,084 7,659,084
Total of non-current assets 13,757,587,800 13,764,040,008
Total of assets 15,361,037,178 15,116,808,305
Current liabilities
Short-term loans 2,141,117,487 1,957,123,175
Loan from Central Bank
Deposit received and hold for others
Call loan received
Financial liabilities measured at fair value of which
changes are recorded in current profits and losses
Derivative financial liabilities
Notes payable 20,500,000 3,500,000
Account payable 920,044,711 960,537,876
Prepayment received 88,959,879 113,994,747
Selling of repurchased financial assets
Fees and commissions receivable
Employees’ wage payable 82,817,182 159,040,363
Tax payable 53,698,125 57,213,608
Interest payable 91,469,937 74,556,982
Dividend payable
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CSG HOLDING CO., LTD. The First Quarter Report 2015
Other account payable 147,595,741 147,269,978
Reinsurance fee payable
Insurance contract provision
Entrusted trading of securities
Entrusted selling of securities
Liabilities held for sale
Non-current liability due in 1 year 2,145,416,558 2,119,066,755
Other current liability 300,000 300,000
Total of current liability 5,691,919,620 5,592,603,484
Non-current liabilities
Long-term borrowings 389,000,000 383,817,820
Bond payable
Of which: preferred shares
Perpetual bonds
Long-term payable
Long-term payroll payables
Special payable
Anticipated liabilities
Deferred income 432,502,673 444,909,519
Differed income tax liability 47,694,900 42,029,332
Other non-recurring liabilities
Total of non-current liabilities 869,197,573 870,756,671
Total of liability 6,561,117,193 6,463,360,155
Owners’ equity (or shareholders’ equity)
Capital paid in (or share capital) 2,075,335,560 2,075,335,560
Other equity instruments
Of which: preferred shares
Perpetual bonds
Capital reserves 1,340,172,052 1,340,090,907
Less: Shares in stock
Other comprehensive income 46,228,818 -13,521,093
Special reserves 14,584,061 14,562,826
Surplus reserves 830,772,731 830,772,731
Common risk provision
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CSG HOLDING CO., LTD. The First Quarter Report 2015
Retained profit 4,183,522,143 4,101,320,834
Total of owner’s equity belong to the parent company 8,490,615,365 8,348,561,765
Minor shareholders’ equity 309,304,620 304,886,385
Total of owners’ equity (or shareholders’ equity) 8,799,919,985 8,653,448,150
Total of liability and shareholders’ equity (or owners’
15,361,037,178 15,116,808,305
equity)
Legal Representative：Zeng Nan CFO：Luo Youming Manager of the financial department：Zhang Guoming
2. Balance Sheet of the Parent Company
Prepared by CSG Holding Co., Ltd.
Unit: RMB
Items Ending balance Beginning balance
Current asset:
Monetary capital 61,405,111 69,089,926
Financial assets measured at fair value of which changes
are recorded in current profits and losses
Derivative financial assets
Notes receivable
Account receivable
Prepayment
Interest receivable
Dividend receivable
Other account receivable 3,688,295,755 3,574,791,409
Inventories
Assets held for sale
Non-current asset due in 1 year
Other current asset
Total of current asset 3,749,700,866 3,643,881,335
Non-current assets
Available-for-sale financial asset 159,359,254 139,854,780
Expired investment in possess
Long-term receivable 1,658,290,000 1,636,290,000
Long-term share equity investment 4,725,193,876 4,733,050,730
Investment real estates
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CSG HOLDING CO., LTD. The First Quarter Report 2015
Fixed assets 30,986,348 32,554,885
Construction in process 194,940
Engineering goods
Fixed asset disposal
Production physical assets
Gas & petrol
Intangible assets 2,094,886 2,205,836
R&D expense
Goodwill
Long-term amortizable expenses 1,473,628 1,701,424
Differed income tax asset
Other non-current asset
Total of non-current assets 6,577,592,932 6,545,657,655
Total of assets 10,327,293,798 10,189,538,990
Current liabilities
Short-term loans 1,773,500,000 1,681,000,000
Financial liabilities measured at fair value of which
changes are recorded in current profits and losses
Derivative financial liabilities
Notes payable
Account payable 167,256 169,337
Prepayment received
Employees’ wage payable 2,375,891 50,356,110
Tax payable 202,499 1,323,122
Interest payable 53,810,344 54,281,022
Dividend payable
Other account payable 283,371,301 270,915,072
Liabilities held for sale
Non-current liability due in 1 year 1,997,099,182 1,995,783,205
Other current liability
Total of current liability 4,110,526,473 4,053,827,868
Non-current liabilities
Long-term borrowings 218,000,000 196,000,000
Bond payable
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CSG HOLDING CO., LTD. The First Quarter Report 2015
Of which: preferred shares
Perpetual bonds
Long-term payable
Long-term payroll payables
Special payable
Anticipated liabilities
Deferred income 11,167,800 11,167,800
Differed income tax liability 37,073,160 30,553,445
Other non-recurring liabilities
Total of non-current liabilities 266,240,960 237,721,245
Total of liability 4,376,767,433 4,291,549,113
Owners’ equity (or shareholders’ equity)
Capital paid in (or share capital) 2,075,335,560 2,075,335,560
Other equity instruments
Of which: preferred shares
Perpetual bonds
Capital reserves 1,403,988,071 1,403,806,545
Less: Shares in stock
Other comprehensive income 44,168,509 -15,223,855
Special reserves
Surplus reserves 845,318,091 845,318,091
Retained profit 1,581,716,134 1,588,753,536
Total of owners’ equity (or shareholders’ equity) 5,950,526,365 5,897,989,877
Total of liability and shareholders’ equity (or owners’
10,327,293,798 10,189,538,990
equity)
3. Consolidated Income Statement
Unit: RMB
Items Balance of this period Balance of last period
I. Total revenue 1,539,206,800 1,482,894,670
Incl. Business income 1,539,206,800 1,482,894,670
Interest income
Insurance fee earned
Fee and commission received
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CSG HOLDING CO., LTD. The First Quarter Report 2015
II. Total business cost 1,483,814,575 1,344,181,492
Incl. Business cost 1,219,078,366 1,101,922,703
Interest expense
Fee and commission paid
Insurance discharge payment
Net claim amount paid
Net insurance policy reserves provided
Insurance policy dividend paid
Reinsurance expenses
Business tax and surcharge 5,465,909 7,492,146
Sales expense 65,898,919 58,234,783
Administrative expense 133,870,454 122,486,203
Financial expenses 56,173,221 51,307,640
Asset impairment loss 3,327,706 2,738,017
Plus: gains from change of fair value (“-“for loss)
Investment gains (“-“ for loss) 16,725,566 6,383,626
Incl. Investment gains from affiliates
Exchange gains (“-“ for loss)
III. Operational profit (“-“ for loss) 72,117,791 145,096,804
Plus: non-operational income 18,971,646 25,025,825
Including: Gains on disposal of non-current assets 2,854,584 592,302
Less: non-operational expenditure 13,059 1,450,126
Incl. Loss from disposal of non-current assets 7,282 1,421,153
IV. Gross profit (“-“ for loss) 91,076,378 168,672,503
Less: Income tax expenses 1,265,071 35,485,420
V. Net profit (“-“ for net loss) 89,811,307 133,187,083
Net profit attributable to the owners of parent company 82,201,310 123,051,443
Minor shareholders’ equity 7,609,997 10,135,640
VI. After-tax net amount of other comprehensive incomes 59,528,906 10,352,885
After-tax net amount of other comprehensive incomes
59,749,912 10,352,885
attributable to owners of the Company
(I) Other comprehensive incomes that will not be
reclassified into gains and losses
1. Changes in net liabilities or assets with a defined
benefit plan upon re-measurement
16
CSG HOLDING CO., LTD. The First Quarter Report 2015
2. Enjoyable shares in other comprehensive incomes in
investees that cannot be reclassified into gains and losses
under the equity method
(II) Other comprehensive incomes that will be reclassified
59,749,912 10,352,885
into gains and losses
1. Enjoyable shares in other comprehensive incomes in
investees that will be reclassified into gains and losses
under the equity method
2. Gains and losses on fair value changes of
60,138,670 10,115,238
available-for-sale financial assets
3. Gains and losses on reclassifying held-to-maturity
investments into available-for-sale financial assets
4. Effective hedging gains and losses on cash flows
5. Foreign-currency financial statement translation
-388,758 237,647
difference
6. Other
After-tax net amount of other comprehensive incomes
-221,006
attributable to minority shareholders
VII. Total comprehensive incomes 149,340,213 143,539,968
Attributable to owners of the Company 141,951,222 133,404,328
Attributable to minority shareholders 7,388,991 10,135,640
VIII. Earnings per share
(I) Basic earnings per share 0.0396 0.0593
(II) Diluted earnings per share 0.0396 0.0593
Legal Representative：Zeng Nan CFO：Luo Youming Manager of the financial department：Zhang Guoming
4. Income Statement of the Parent Company
Unit: RMB
Items Balance of this period Balance of last period
I. Turnover 0 0
Less: Operation cost 0 0
Business tax and surcharge 0 0
Sales expense 0 0
Administrative expense 7,070,729 6,203,406
Financial expenses 32,205,941 23,005,979
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CSG HOLDING CO., LTD. The First Quarter Report 2015
Asset impairment loss 2,168 -2,049
Plus: gains from change of fair value (“-“ for loss)
Investment gains (“-“ for loss) 18,173,520 8,735,293
Incl. Investment gains from affiliates
II. Operational profit (“-“ for loss) -21,105,318 -20,472,043
Plus: Non business income 790,176 839,045
Including: Gains on disposal of non-current assets
Less: Non-business expenses
Incl. Loss from disposal of non-current assets
III. Total profit (“-“ for loss) -20,315,142 -19,632,998
Less: Income tax expenses -13,277,740
IV.Net profit (“-“ for net loss) -7,037,402 -19,632,998
V. After-tax net amount of other comprehensive incomes 59,392,364 7,558,785
(I) Other comprehensive incomes that will not be
reclassified into gains and losses
1. Changes in net liabilities or assets with a defined
benefit plan upon re-measurement
2. Enjoyable shares in other comprehensive incomes in
investees that cannot be reclassified into gains and losses
under the equity method
(II) Other comprehensive incomes that will be reclassified
59,392,364 7,558,785
into gains and losses
1. Enjoyable shares in other comprehensive incomes in
investees that will be reclassified into gains and losses
under the equity method
2. Gains and losses on fair value changes of
59,392,364 7,558,785
available-for-sale financial assets
3. Gains and losses on reclassifying held-to-maturity
investments into available-for-sale financial assets
4. Effective hedging gains and losses on cash flows
5. Foreign-currency financial statement translation
difference
6. Other
VI. Total comprehensive incomes 52,354,962 -12,074,213
VII. Earnings per share
(I) Basic earnings per share
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CSG HOLDING CO., LTD. The First Quarter Report 2015
(II) Diluted earnings per share
5. Consolidated Cash Flow Statement
Unit: RMB
Items Balance of this period Balance of last period
I. Net cash flow from business operation
Cash received from sales of products and providing of
1,638,344,300 1,702,304,935
services
Net increase of customer deposits and capital kept for
brother company
Net increase of loans from central bank
Net increase of inter-bank loans from other financial
bodies
Cash received against original insurance contract
Net cash received from reinsurance business
Net increase of client deposit and investment
Net increase of disposal of financial assets measured at
fair value of which changes are recorded into current
gains and losses
Cash received as interest, processing fee, and commission
Net increase of inter-bank fund received
Net increase of repurchasing business
Tax returned 2,825,244 421,908
Other cash received from business operation 14,219,488 17,575,287
Sub-total of cash inflow from business activities 1,655,389,032 1,720,302,130
Cash paid for purchasing of merchandise and services 1,137,589,502 1,097,649,946
Net increase of client trade and advance
Net increase of savings in central bank and brother
company
Cash paid for original contract claim
Cash paid for interest, processing fee and commission
Cash paid for policy dividend
Cash paid to staffs or paid for staffs 258,205,741 250,906,812
Taxes paid 111,806,996 182,733,978
Other cash paid for business activities 110,048,388 98,819,407
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CSG HOLDING CO., LTD. The First Quarter Report 2015
Sub-total of cash outflow from business activities 1,617,650,627 1,630,110,143
Cash flow generated by business operation, net 37,738,405 90,191,987
II. Cash flow generated by investing
Cash received from investment retrieving 91,792,420
Cash received as investment profit 444,816
Net cash retrieved from disposal of fixed assets,
2,654,139 8,328,943
intangible assets, and other long-term assets
Net cash received from disposal of subsidiaries or other
operational units
Other investment-related cash received 1,832,684 95,250,749
Sub-total of cash inflow due to investment activities 96,279,243 104,024,508
Cash paid for construction of fixed assets, intangible
320,005,251 411,824,679
assets and other long-term assets
Cash paid as investment 55,914,929
Net increase of loan against pledge
Net cash received from subsidiaries and other operational
units
Other cash paid for investment activities 672,760
Sub-total of cash outflow due to investment activities 320,678,011 467,739,608
Net cash flow generated by investment -224,398,768 -363,715,100
III. Cash flow generated by financing
Cash received as investment 21,136,000
Incl. Cash received as investment from minor
21,136,000
shareholders
Cash received as loans 1,053,352,855 2,027,074,580
Cash received from bond placing
Other financing-related cash received 20,096,157
Subtotal of cash inflow from financing activities 1,053,352,855 2,068,306,737
Cash to repay debts 839,142,536 1,735,961,256
Cash paid as dividend, profit, or interests 48,991,916 63,293,058
Incl. Dividend and profit paid by subsidiaries to minor
shareholders
Other cash paid for financing activities 92,208
Subtotal of cash outflow due to financing activities 888,226,660 1,799,254,314
Net cash flow generated by financing 165,126,195 269,052,423
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CSG HOLDING CO., LTD. The First Quarter Report 2015
IV. Influence of exchange rate alternation on cash and
-1,248,106 136,529
cash equivalents
V. Net increase of cash and cash equivalents -22,782,274 -4,334,161
Plus: Balance of cash and cash equivalents at the
156,838,261 276,450,869
beginning of term
VI. Balance of cash and cash equivalents at the end of
134,055,987 272,116,708
term
6. Cash Flow Statement of the Parent Company
Unit: RMB
Items Balance of this period Balance of last period
I. Net cash flow from business operation
Cash received from sales of products and providing of
services
Tax returned
Other cash received from business operation 943,126 326,465
Sub-total of cash inflow from business activities 943,126 326,465
Cash paid for purchasing of merchandise and services 1,500
Cash paid to staffs or paid for staffs 45,642,137 47,862,295
Taxes paid 69,646 274,607
Other cash paid for business activities 1,490,598 4,625,703
Sub-total of cash outflow from business activities 47,202,381 52,764,105
Cash flow generated by business operation, net -46,259,255 -52,437,640
II. Cash flow generated by investing
Cash received from investment retrieving 83,721,977
Cash received as investment profit 2,970,186 18,685,428
Net cash retrieved from disposal of fixed assets,
294
intangible assets, and other long-term assets
Net cash received from disposal of subsidiaries or other
operational units
Other investment-related cash received
Sub-total of cash inflow due to investment activities 86,692,163 18,685,722
Cash paid for construction of fixed assets, intangible
207,220 143,185
assets and other long-term assets
Cash paid as investment 791,650 114,778,929
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CSG HOLDING CO., LTD. The First Quarter Report 2015
Net cash received from subsidiaries and other operational
units
Other cash paid for investment activities 20,000
Sub-total of cash outflow due to investment activities 1,018,870 114,922,114
Net cash flow generated by investment 85,673,293 -96,236,392
III. Cash flow generated by financing
Cash received as investment
Cash received as loans 859,296,702 1,871,301,593
Cash received from bond placing
Other financing-related cash received 1,016,912
Subtotal of cash inflow from financing activities 859,296,702 1,872,318,505
Cash to repay debts 744,796,702 1,719,250,000
Cash paid as dividend, profit, or interests 32,690,865 28,228,411
Other cash paid for financing activities 128,891,119
Subtotal of cash outflow due to financing activities 906,378,686 1,747,478,411
Net cash flow generated by financing -47,081,984 124,840,094
IV. Influence of exchange rate alternation on cash and
-16,868 7,801
cash equivalents
V. Net increase of cash and cash equivalents -7,684,814 -23,826,137
Plus: Balance of cash and cash equivalents at the
67,898,286 129,337,516
beginning of term
VI. Balance of cash and cash equivalents at the end of
60,213,472 105,511,379
term
II. Report of the Auditors
Whether the First Quarter Report has been audited or not
□ Yes √ No
The First Quarter Report hasn’t been audited.
Board of Directors of
CSG Holding Co., Ltd.
30 April 2015
22
