CSG HOLDING CO., LTD.
THE THIRD QUARTER REPORT 2015
Chairman of the Board:
ZENG NAN
October 2015
CSG HOLDING CO., LTD. The Third Quarter Report 2015
Section 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 facticity, accuracy and completeness of the whole contents.
All directors are present the meeting of the Board for deliberating the Third 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 facticity, accuracy and completeness of the Financial Report
in the Third 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.
1
CSG HOLDING CO., LTD. The Third 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
Increase/decrease in
The end of current period The end of last year comparison with the end of
last year
Total assets (RMB ) 15,234,992,227 15,116,808,305 0.78%
Net assets attributable to
shareholders of the Company 7,707,197,092 8,348,561,765 -7.68%
(RMB )
Increase/Decrease in
Increase/decrease in
comparison with the From 1 January to 30
Current period comparison with the
same period of last September 2015
same period of 2014
year
Operating revenues (RMB ) 2,054,090,445 8.90% 5,377,129,947 4.43%
Net profit attributable to
shareholders of the Company 188,302,026 27.16% 394,069,370 -46.55%
(RMB )
Net profit attributable to
shareholders of the Company after
68,952,564 -47.22% 133,220,247 -64.34%
deducting extraordinary gains
and losses (RMB )
Net cash flows from operating
-- -- 681,145,888 -28.88%
activities (RMB )
Basic earnings per share
0.09 28.57% 0.19 -47.22%
(RMB/Share)
Diluted earnings per share
0.09 28.57% 0.19 -47.22%
(RMB/Share)
Weighted average ROE (%) 2.33% 0.51% 4.87% -4.18%
Items and amounts of extraordinary profit (gains)/loss
√Applicable □ Not applicable
Unit: RMB
2
CSG HOLDING CO., LTD. The Third Quarter Report 2015
Amount from the beginning of
Item year to the end of the report Note
period(RMB)
Gains/losses from the disposal of non-current asset (including the
2,720,260
write-off that accrued for impairment of assets)
Governmental subsidy reckoned into current gains/losses (not
including the subsidy enjoyed in quota or ration according to
62,376,612
national standards, which are 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
56,839,648
business related to normal business of the Company, and
investment income from disposal of transactional financial assets
and liabilities and financial assets available for sale
Other non-operating income and expenditure except for the
34,244,396
aforementioned items
Other item that satisfied the definition of non-recurring gains and
118,940,664
losses
Less: Impact on income tax 12,881,688
Impact on minority shareholders’ equity (post-tax) 1,390,769
Total 260,849,123 --
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
Item Amount involved (RMB) Reasons
Mainly because equity transfer of 73.58% of Yichang CSG
photoelectric Glass Co., Ltd. had finished and investment
100,146,152 income of RMB 100,079,340 was confirmed as well as income
Other item that satisfied the
of RMB 66,812 gained from selling 51% equity of CSG
definition of non-recurring gains
(Australia) Limited.
and losses
Mainly because the deferred income tax recognized for the
18,794,512 previous period had been written off by the disposal of financial
assets available-for-sale.
3
CSG HOLDING CO., LTD. The Third Quarter Report 2015
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 common shareholders and particulars about the common shares held by the top ten
shareholders
Unit: Share
Total of shareholders at the end of the report period 146,855
Particulars about common shares held by the top ten shareholders
Proporti Amount of Number of share
Nature of on of Amount of restricted pledged/frozen
Name of shareholder
shareholder shares shares held shares Share Amo
held (%) held status unt
Domestic non
Foresea Life Insurance Co., Ltd. – Haili Niannian state-owned legal 9.25% 192,058,738 0
person
Domestic non
Foresea Life Insurance Co., Ltd. – universal insurance
state-owned legal 3.92% 81,405,744 0
products
person
State-owned legal
China Northern Industries Corporation 3.62% 75,167,934 0
person
Domestic non
Shenzhen Jushenghua Co., Ltd. state-owned legal 2.87% 59,552,120 0
person
Central Huijin Investment Ltd. Domestic non
state-owned 1.92% 39,811,300 0
corporate
Domestic non
Shenzhen International Holdings (Shenzhen) Co., Ltd. state-owned legal 1.78% 37,040,200 0
person
Foreign legal
Taifook Securities Company Limited-Account Client 1.66% 34,478,112 0
person
Domestic non
Xin Tong Chan Industrial Development (Shenzhen) Co.,
state-owned legal 1.59% 33,059,899 0
Ltd.
person
Foreign legal
China Galaxy International Securities (H.K.) Co., Ltd. 1.41% 29,300,887 0
person
Domestic non
Foresea Life Insurance Co., Ltd. –own fund state-owned legal 1.33% 27,519,850 0
person
4
CSG HOLDING CO., LTD. The Third Quarter Report 2015
Particular about top ten shareholders with un-restrict shares held
Amount of un-restrict Type of shares
Name of shareholder
shares held Type Amount
Foresea Life Insurance Co., Ltd. – Haili Niannian 192,058,738 RMB ordinary shares 192,058,738
Foresea Life Insurance Co., Ltd. – universal RMB ordinary shares
81,405,744 81,405,744
insurance products
China Northern Industries Corporation 75,167,934 RMB ordinary shares 75,167,934
Shenzhen Jushenghua Co., Ltd. 59,552,120 RMB ordinary shares 59,552,120
Central Huijin Investment Ltd. 39,811,300 RMB ordinary shares 39,811,300
Shenzhen International Holdings (Shenzhen) Co., RMB ordinary shares
37,040,200 37,040,200
Ltd.
Taifook Securities Company Limited-Account Domestically listed foreign
34,478,112 34,478,112
Client shares
Xin Tong Chan Industrial Development RMB ordinary shares
33,059,899 33,059,899
(Shenzhen) Co., Ltd.
China Galaxy International Securities (H.K.) Co., Domestically listed foreign
29,300,887 29,300,887
Ltd. shares
Foresea Life Insurance Co., Ltd. –own fund 27,519,850 RMB ordinary shares 27,519,850
Among shareholders as listed above, Foresea Life Insurance Co., Ltd.-Haili
Niannian, Foresea Life Insurance Co., Ltd.-universal insurance products,
Foresea Life Insurance Co., Ltd.-own fund are all held by Foresea Life
Insurance Co., Ltd. Shenzhen Jushenghua Co., Ltd. and Chengtai Group Co.,
Ltd. are the persons acting in concert of Foresea Life Insurance Co., Ltd.
Chengtai Group Co. Ltd. held 27,625,299 shares via China Galaxy International
Explanation on associated relationship among the Securities (H.K.) Co., Ltd.
aforesaid shareholders Shenzhen International Holdings (Shenzhen) Co., Ltd. and Xin Tong Chan
Development (Shenzhen) Co., Ltd. are holding enterprises and belong to
controlling enterprise of Shenzhen International Holdings Co., Ltd.
Except for the above-mentioned shareholders, It is unknown whether other
shareholders belong to related party or have associated relationship regulated by
the Management Regulation of Information Disclosure on Change of
Shareholding for Listed Companies.
The Company’s shareholder, Shenzhen Jushenghua Co., Ltd., held 59,552,120
Explanation on associated relationship among the
shares in total with 0 share in its general account and 59,552,120 shares via the
aforesaid shareholders
client credit trading guarantee account of China Galaxy Securities Co., Ltd.
Buy back deals carried out by top ten common shareholders, top ten shareholders un-restrict shares held in the report period
□Yes √ No
5
CSG HOLDING CO., LTD. The Third Quarter Report 2015
Section III. Important events
I. Particulars and explanations about significant changes in main accounting statements and
financial indexes
√Applicable □ Not applicable
Unit: RMB
Increased/Decreased
Items of balance sheet Note 30 September 2015 31 December 2014 Rate
amount
Note receivable (1) 241,229,536 155,588,629 85,640,907 55%
Account receivable (2) 643,932,212 318,274,574 325,657,638 102%
prepayment (3) 164,647,596 84,231,553 80,416,043 95%
Other account receivable (4) 121,285,992 25,973,156 95,312,836 367%
Other current assets (5) 131,283,538 219,908,717 -88,625,179 -40%
Long-term account (6)
50,104,299 - 50,104,299 -
receivable
Note payable (7) 15,000,000 3,500,000 11,500,000 329%
Interest payable (8) 138,732,095 74,556,982 64,175,113 86%
Non-current liability due (9)
1,245,273,861 2,119,066,755 -873,792,894 -41%
within one year
Long-term borrowings (10) 1,248,500,000 383,817,820 864,682,180 225%
Bond payable (11) 1,000,000,000 -- 1,000,000,000 --
From 1 January to 30 From 1 January to 30 Increased/Decreased
Items of profit statement Note Rate
September 2015 September 2014 amount
Assets impairment loss (12) -7,953,154 -5,040,597 -2,912,557 58%
Investment gains (13) 141,088,467 324,518,883 -183,430,416 -57%
Income tax expenses (14) -30,518,083 -87,445,381 56,927,298 -65%
Note:
(1) The increase of note receivable was mainly because some subsidiaries changed collection methods in the report period.
(2)The increase of account receivable was mainly because the account receivable of Wujiang Float Glass and Yichang Polysilicon
Company increased after turning into commercial operation, meanwhile the account receivable of Architectural Glass Industry
increased as well.
(3)The increase of prepayment was mainly because the prepayment for equipment in some subsidiaries increased in the report period.
(4) The increase of other account receivable was mainly because the consolidation scope changed resulting from the equity transfer
of Yichang Photoelectric Company, therefore the original internal current account was transferred into other account receivable.
(5) The decrease of other current assets was mainly because the consolidation scope changed resulting from the equity transfer of
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CSG HOLDING CO., LTD. The Third Quarter Report 2015
Yichang Photoelectric, and some subsidiaries’ VAT which need to be deducted decreased.
(6) The increase of long-term account receivable was mainly because the financing lease fund lent to Shenzhen Display Company
increased.
(7) The increase of note payable was mainly because new notes increased slightly in the report period and the previous balance was
lower.
(8) The increase of interest payable was mainly because the undue interest payable for corporate bonds had not been paid.
(9) The decrease of non-current liability due within one year was mainly because no investor chose to sell back the one-billion
corporate bonds which attached the option for the investor selling back to the Company, and therefore it was listed in the items of
bonds payable.
(10)The increase of long-term borrowings was mainly due to debt restructuring.
(11) The increase of bond payable was mainly because no investor chose to sell back the one-billion corporate bonds which attached
the option for the investor selling back to the Company, and therefore it was listed in the items of bonds payable.
(12) The increase of assets impairment loss was mainly because the consolidation scope changed resulting from equity transfer of
Yichang Photoelectric Company, the original internal current account was transferred into other account receivable and reserved
provisions for bad debts accordingly on the basis of accounting standards.
(13) The decrease of investment gains was mainly because the gains from equity transfer of Yichang Photoelectric Company were
less than that of Shenzhen Float Glass, which was transferred last year.
(14) The decrease of income tax expenses was mainly because earnings declined in the report period, and the deferred income tax
recognized for the previous period had been written off by the disposal of financial assets available-for-sale.
II. The progress of material events and the impact and the analysis of solutions
√Applicable □ Not applicable
1. Short-term Financing Bills
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 bills within RMB 2.2 billion limit. On 11
January 2013, National Association of Financial market Institutional Investors (NAFMII) 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 the
redemption was 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 redemption was
completed on 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 redemption was completed on 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
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CSG HOLDING CO., LTD. The Third Quarter Report 2015
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. On 16-17 September 2015, the Company issued the 2nd batch of short-term financing
bills for the year of 2015 with a total amount of RMB 0.4 billion and annual interest rate of 3.50%, and the expiry date is 17
September 2016.
For details, please refer to www.chinabond.com.cn and www.chinamoney.com.cn.
2. Corporate bonds
As approved by the Company in the second extraordinary general meeting for 2009, the Company issued corporate bonds amounting
to RMB2 billion on 20 October 2010. This batch of bonds was divided into two groups, with maturity terms being 5 years and 7
years respectively. For the bonds with maturity term of 5 years, the issuance amount was RMB1 billion; and for those of 7 years, the
issuance amount was RMB1 billion also. Besides, the bonds were attached with the option of issuer to raise additional coupon rate
and the put option of investor. The corporate bonds were listed for trading on Shenzhen Stock Exchange on 10 November 2010, with
annual interest rate of 5.33% which remained constant for the first 5 years during the duration period. The abbreviation of the bonds
with 5 years term was ‘10CSG01’, with stock code of 112021; and the abbreviation of the bonds with 7 years term was ‘10CSG02’,
with stock code of 112022. The trading termination dates were 20 October 2015 and 20 October 2017 respectively (the final
announcement issued by the Company shall prevail). For details, please refer to the Result Announcement Concerning Issuance of
Corporate Bonds in 2010 disclosed at China Securities Journal, Securities Times, Hong Kong Commercial Daily and
www.cninfo.com.cn on 26 October 2010.
According to the tracking rating conducted by CCXR in 2015, the credit rating of the Company’s main body was AA+, with outlook
of stable. The credit rating of the aforementioned bonds was AA+. The Company has paid the interests of the bonds for four interest
accrual periods on 20 October 2011, 22 October 2012, 21 October 2013 and 20 October 2014.
According to the clauses of “10CSG02” sell-back option for investors in the “Public Announcement on Listing of Corporate Bonds
of CSG”, the Company issued “Notice of Adjusting the Coupon Rate for Corporate Bonds “10CSG02” and Sell-back Implementation
for Investors” (Notice No.: 2015-047) on 15 September 2015, and issued the first and second indicative notices for the
implementation respectively on 17 September 2015 and 21 September 2015 (Notice No.: 2015-048, Notice No.: 2015-049). The
Company decided not to raise the coupon rate at the end of the fifth year in the duration of the corporation bonds. That is the annual
interest rate of the bonds is still 5.33% in the next 2 years during the bonds duration. Investors can sell back “10CSG02”, in whole or
in part, to the Company in the declaration date for sell-back (from 15 September 2015 to 21 September 2015), and the sell-back price
was RMB100 per piece. According to the sell-back declaration data provided by Shenzhen Branch of CSDCC, the valid amount of
sell-back declaration for “10CSG02” was 0, the sell-back amount was RMB 0 and the remaining trust bonds were 10,000,000 pieces.
The Company paid the interests of the bonds for the period from 20 October 2014 to 19 October 2015 on 20 October 2015.
According to relevant clauses of the “Prospectus of Public Offering Corporate Bonds of CSG” and the “Public Announcement on
Listing of Corporate Bonds of CSG”, the bond “10CSG01” matured on 20 October 2015, and terminated in the dealing system of
Shenzhen Stock Exchange on 16 October 2015. The Company paid the principal and interest of the bonds for the period from 20
October 2014 to 19 October 2015 on 20 October 2015.
3. Details of other events as follow:
Overview Disclosure date Indexes of website for interim Notice
The wholly-owned subsidiary Shenzhen CSG
The Notice (Notice No.: 2015-040) was published on China
Financing Lease Co., Ltd. carried out financing
2015-7-7 Securities Journal, Securities Times, Hong Kong Commercial
lease business towards the affiliated company
Daily and Juchao Website (www.cninfo.com.cn)
Yichang Display Device
8
CSG HOLDING CO., LTD. The Third Quarter Report 2015
The application of non-public offering of A-share The Notice (Notice No.: 2015-046) was published on China
was accepted by China Securities Regulatory 2015-8-18 Securities Journal, Securities Times, Hong Kong Commercial
Commission Daily and Juchao Website (www.cninfo.com.cn)
The Notice (Notice No.: 2015-052) was published on China
Established a wholly-owned subsidiary Shenzhen
2015-9-29 Securities Journal, Securities Times, Hong Kong Commercial
CSG PV Energy Co., Ltd.
Daily and Juchao Website (www.cninfo.com.cn)
III. Commitments from the Company or shareholder with over 5% share held in the report
period or continues to the report period
√ Applicable □ Not applicable
Commit-m Commit- Implement-
Commitments Promisee Content of commitments
ent date ment term ation
The Company has implemented share merger
reform in May 2006. Till June 2008, the share
of the original non-tradable shareholders
which holding over 5% total shares of the
Company had all released. Therein, the
The original
original non-tradable shareholder Shenzhen
non-tradable By the end of
International Holdings (SZ) Limited and Xin
shareholder the report
Tong Chan Industrial Development
Shenzhen period, the
(Shenzhen) Co., Ltd. both are wholly-funded
International above
subsidiaries to Shenzhen International
Holdings shareholders
Holdings Limited (hereinafter Shenzhen
Commitments for (SZ) of the
International for short) listed in Hong Kong 2006-5-22 N/A
Share Merger Reform Limited and Company had
united stock exchange main board. Shenzhen
Xin Tong strictly
International made commitment that it would
Chan carried out
strictly carry out related regulations of
Industrial their
Securities Law, Administration of the
Developmen promises.
Takeover of Listed Companies Procedures
t (Shenzhen)
and Guiding Opinions on the Listed
Co., Ltd.
Companies’ Transfer of Original Shares
Released from Trading Restrictions issued by
CSRC during implementing share
decreasingly-held plan and take information
disclosure responsibility timely.
Foresea Life Foresea Life Insurance Co., Ltd., Shenzhen During the By the end of
Insurance Jushenghua Co., Ltd. and Chengtai Group period the report
Co., Ltd, Co., Ltd. issued detailed report of equity when period, the
Commitments in report of
Shenzhen change on 29 June 2015, in which, they 2015-6-29 Foresea above
acquisition or equity change
Jushenghua undertook to keep independent from CSG in Life shareholders
Co., Ltd and aspects of personnel, assets, finance, remains of the
Chengtai organization set-up and business as long as the largest Company had
9
CSG HOLDING CO., LTD. The Third Quarter Report 2015
Group Co., Foresea Life Insurance remained the largest shareholde strictly
Ltd. shareholder of CSG. Meanwhile, they made r of the carried out
commitment on regularizing related Company their
transaction and avoiding industry promises.
competition.
Commitments in assets
reorganization
Commitments in initial public
offering or re-financing
By the end of
the report
period, the
Foresea Life
The major shareholders of the Company above
Insurance
Foresea Life Insurance Co., Ltd. and China The later shareholders
Co., Ltd.
Other commitments for medium Northern Industries Corporation committed 2015-07-1 six months of the
and China
and small shareholders that they would never reduce shares of the 5 since 15 Company had
Northern
Company they held in the later six months July 2015 strictly
Industries
since 15 July 2015. carried out
Corporation
their
promises.
Completed on time or not Yes
Detailed reasons for
Not applicable
un-complement and further plan
IV. Prediction of business performance of 2015
Alert of loss or significant change in accumulative net profit from the beginning of year to the end of the next report period or
compared with the same period of last year, and statement of causations.
□ Applicable √Not applicable
V. Securities investment
□ Applicable √Not applicable
The Company had no securities investment in the report period.
VI. Statement on holding shares of other listed company
√ Applicable □Not applicable
The Company holds 6,037,193 shares of Golden Glass and has 2.80% voting rights. 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 are calculated as equity instrument available for sale.
10
CSG HOLDING CO., LTD. The Third Quarter Report 2015
During the report period, the shares of Golden Glass held by the Company had no change.
VII. Derivatives investment
□ Applicable √Not applicable
The Company had no derivatives investment in the report period.
VIII. Reception of research, communication and interview in the report period
□ Applicable √Not applicable
There was no reception of research, communication or interview in the report period.
IX. Particulars about illegal external guarantee
□ Applicable √Not applicable
The Company had no illegal external guarantee in the report period.
X. Particulars about non-operating fund of listed company occupied by the largest
shareholder and its affiliated enterprises
□ Applicable √Not applicable
It did not exist that non-operating fund of listed company was occupied by the largest shareholder and its affiliated enterprises in the
report period.
11
CSG HOLDING CO., LTD. The Third Quarter Report 2015
Section IV. Financial Report
(I) Financial Statements
1. Consolidated Balance Sheet
Prepared by CSG Holding Co., Ltd.
Unit: RMB
Items Ending balance Beginning balance
Current asset:
Monetary capital 177,103,197 158,139,050
Settlement provision
Outgoing call loan
Financial assets measured at fair value with variations
accounted into current income account
Derivative financial assets
Notes receivable 241,229,536 155,588,629
Account receivable 643,932,212 318,274,574
Prepayment 164,647,596 84,231,553
Insurance receivable
Reinsurance receivable
Provisions of Reinsurance contracts receivable
Interest receivable
Dividend receivable
Other account receivable 121,285,992 25,973,156
Repurchasing of financial assets
Inventories 392,126,217 390,652,618
Assets held for sales
Non-current asset due in 1 year
Other current asset 131,283,538 219,908,717
Total of current asset 1,871,608,288 1,352,768,297
Non-current assets
Loans and payment on other’s behalf disbursed
Available-for-sale financial asset 156,121,811 145,568,100
Expired investment in possess
12
CSG HOLDING CO., LTD. The Third Quarter Report 2015
Long-term receivable 50,104,299
Long-term share equity investment 660,192,414 751,623,543
Investment real estates
Fixed assets 10,082,787,757 9,851,117,915
Construction in process 1,418,336,901 1,934,595,736
Engineering goods
Fixed asset disposal
Production physical assets
Gas & petrol
Intangible assets 853,911,221 946,586,310
R&D expense 20,055,732 17,675,656
Goodwill 3,039,946 3,039,946
Long-term amortizable expenses 1,771,521 2,391,824
Differed income tax asset 109,403,253 103,781,894
Other non-current asset 7,659,084 7,659,084
Total of non-current assets 13,363,383,939 13,764,040,008
Total of assets 15,234,992,227 15,116,808,305
Current liabilities
Short-term loans 2,204,811,907 1,957,123,175
Loan from Central Bank
Deposit received and hold for others
Call loan received
Financial liabilities measured at fair value with variations
accounted into
Derivative financial liabilities
Notes payable 15,000,000 3,500,000
Account payable 856,628,900 960,537,876
Prepayment received 104,302,434 113,994,747
Selling of repurchased financial assets
Fees and commissions receivable
Employees’ wage payable 110,755,848 159,040,363
Tax payable 76,079,766 57,213,608
Interest payable 138,732,095 74,556,982
Dividend payable
13
CSG HOLDING CO., LTD. The Third Quarter Report 2015
Other account payable 109,356,753 147,269,978
Reinsurance fee payable
Insurance contract provision
Entrusted trading of securities
Entrusted selling of securities
Liabilities held for sales
Non-current liability due in 1 year 1,245,273,861 2,119,066,755
Other current liability 300,000 300,000
Total of current liability 4,861,241,564 5,592,603,484
Non-current liabilities
Long-term borrowings 1,248,500,000 383,817,820
Bond payable 1,000,000,000
Including：preferred stock
Sustainable debt
Long-term payable
Long-term payable employees’s remuneration
Special payable
Anticipated liabilities
Differed income 371,110,184 444,909,519
Differed income tax liability 44,059,268 42,029,332
Other non-recurring liabilities
Total of non-current liabilities 2,663,669,452 870,756,671
Total of liability 7,524,911,016 6,463,360,155
Owners’ equity
Share capital 2,075,335,560 2,075,335,560
Other equity instruments
Including：preferred stock
Sustainable debt
Capital reserves 1,261,039,322 1,340,090,907
Less: Shares in stock
Other comprehensive income 67,242,479 -13,521,093
Special reserves 15,084,576 14,562,826
Surplus reserves 830,772,731 830,772,731
Common risk provision
14
CSG HOLDING CO., LTD. The Third Quarter Report 2015
Undistributed profit 3,457,722,424 4,101,320,834
Total of owner’s equity belong to the parent company 7,707,197,092 8,348,561,765
Minor shareholders’ equity 2,884,119 304,886,385
Total of owners’ equity 7,710,081,211 8,653,448,150
Total of liability and owners’ equity 15,234,992,227 15,116,808,305
Legal Representative：Zeng Nan CFO：Luo Youming Manager of the financial department：Zhang Guoming
2. Balance Sheet of the Parent Company
Unit: RMB
Items Ending balance Beginning balance
Current asset:
Monetary capital 60,192,037 69,089,926
Financial assets measured at fair value with variations
accounted into current income account
Derivative financial assets
Notes receivable
Account receivable
Prepayment
Interest receivable
Dividend receivable
Other account receivable 3,624,151,628 3,574,791,409
Inventories
Assets held for sales
Non-current asset due in 1 year
Other current asset
Total of current asset 3,684,343,665 3,643,881,335
Non-current assets
Available-for-sale financial asset 156,121,811 139,854,780
Expired investment in possess
Long-term receivable 2,879,290,000 1,636,290,000
Long-term share equity investment 4,220,738,142 4,733,050,730
Investment real estates
Fixed assets 28,257,259 32,554,885
Construction in process
15
CSG HOLDING CO., LTD. The Third Quarter Report 2015
Engineering goods
Fixed asset disposal
Production physical assets
Gas & petrol
Intangible assets 1,872,987 2,205,836
R&D expense
Goodwill
Long-term amortizable expenses 1,158,202 1,701,424
Differed income tax asset
Other non-current asset
Total of non-current assets 7,287,438,401 6,545,657,655
Total of assets 10,971,782,066 10,189,538,990
Current liabilities
Short-term loans 1,800,000,000 1,681,000,000
Financial liabilities measured at fair value with variations
accounted into
Derivative financial liabilities
Notes payable
Account payable 124,559 169,337
Prepayment received
Employees’ wage payable 1,942,820 50,356,110
Tax payable 719,499 1,323,122
Interest payable 29,255,261 54,281,022
Dividend payable
Other account payable 193,330,941 270,915,072
Liabilities held for sales
Non-current liability due in 1 year 1,238,731,136 1,995,783,205
Other current liability
Total of current liability 3,264,104,216 4,053,827,868
Non-current liabilities
Long-term borrowings 1,200,000,000 196,000,000
Bond payable 1,000,000,000
Including：preferred stock
Sustainable debt
16
CSG HOLDING CO., LTD. The Third Quarter Report 2015
Long-term payable
Long-term payable employees’s remuneration
Special payable
Anticipated liabilities
Differed income 10,699,800 11,167,800
Differed income tax liability 37,101,905 30,553,445
Other non-recurring liabilities
Total of non-current liabilities 2,247,801,705 237,721,245
Total of liability 5,511,905,921 4,291,549,113
Owners’ equity
Share capital 2,075,335,560 2,075,335,560
Other equity instruments
Including：preferred stock
Sustainable debt
Capital reserves 1,404,351,071 1,403,806,545
Less: Shares in stock
Other comprehensive income 64,566,633 -15,223,855
Special reserves
Surplus reserves 845,318,091 845,318,091
Undistributed profit 1,070,304,790 1,588,753,536
Total of owners’ equity 5,459,876,145 5,897,989,877
Total of liability and owners’ equity 10,971,782,066 10,189,538,990
3. Consolidated Income Statement
Unit: RMB
Items Balance of this period Balance of last period
I. Total revenue 2,054,090,445 1,886,265,762
Incl. Business income 2,054,090,445 1,886,265,762
Interest income
Insurance fee earned
Fee and commission received
II. Total business cost 1,963,587,709 1,720,630,421
Incl. Business cost 1,629,310,349 1,417,163,510
Interest expense
17
CSG HOLDING CO., LTD. The Third Quarter Report 2015
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 13,028,496 8,535,114
Sales expense 73,314,350 75,627,822
Administrative expense 166,634,462 153,083,654
Financial expenses 78,106,207 63,563,101
Asset impairment loss 3,193,845 2,657,220
Plus: gains from change of fair value (“-“for loss)
Investment gains (“-“ for loss) 98,634,017 3,756,812
Incl. Investment gains from affiliates
Exchange gains (“-“ for loss)
III. Operational profit (“-“ for loss) 189,136,753 169,392,153
Plus: non-operational income 23,450,221 24,144,928
Incl. Income from disposal of non-current assets 90,471 47,262
Less: non-operational expenditure 239,392 4,159,950
Incl. Loss from disposal of non-current assets 26,894 385,390
IV. Gross profit (“-“ for loss) 212,347,582 189,377,131
Less: Income tax expenses 23,991,436 26,447,975
V. Net profit (“-“ for net loss) 188,356,146 162,929,156
Net profit attributable to the owners of parent company 188,302,026 148,078,202
Minor shareholders’ equity 54,120 14,850,954
VI. Net amount of other gains after tax 542,045 90,559,507
Net amount of other gains after tax attributable to owners of
542,045 90,559,507
parent company
(I) Other comprehensive income that will not be reclassified
into gains/losses afterward
1. Change of net liability or asset of beneficiary plan from
recalculating
2. The share of comprehensive income in invested entities
under equity method which can not be reclassified into profit
or loss
18
CSG HOLDING CO., LTD. The Third Quarter Report 2015
(II) Other comprehensive income items that will be
reclassified into gains/losses in the subsequent accounting 542,045 90,559,507
period
1. The share of comprehensive income in invested entities
under equity method which can be reclassified into profit or
loss afterward
2.Gains and losses from changes in fair value available for
89,300,193
sale financial assets
3.Held-to-maturity investments reclassified to gains and
losses of available for sale financial assets
4.The effective portion of cash flow hedges and losses
5.Translation differences in currency financial statements 542,045 1,259,314
6.Other
Net of profit of other comprehensive income attributable to
Minority shareholders’ equity
VII. Total of misc. incomes 188,898,191 253,488,663
Total of misc. incomes attributable to the owners of the parent
188,844,071 238,637,709
company
Total misc gains attributable to the minor shareholders 54,120 14,850,954
VIII. Earnings per share:
(I) Basic earnings per share 0.09 0.07
(II) Diluted earnings per share 0.09 0.07
When merger under common control in current period, the net profits realized by the combined party before merger was RMB 0, the
net profits realized by the combined party in the last period was RMB 0.
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. Revenue 0 0
Less:business cost 0 0
Business tax and surcharge 2,935,353
Sales expense
Administrative expense 9,184,376 20,510,715
Financial expenses 16,576,949 34,643,127
Asset impairment loss 1,768,438 1,270
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CSG HOLDING CO., LTD. The Third Quarter Report 2015
Plus: gains from change of fair value (“-“for loss)
Investment gains (“-“ for loss) 60,365,971 3,995,656
Incl. Investment gains from affiliates
II. Operational profit (“-“ for loss) 29,900,855 -51,159,456
Plus: non-operational income 251,142 717,752
Incl. Income from disposal of non-current assets
Less: non-operational expenditure 2,701,800
Incl. Loss from disposal of non-current assets
III. Gross profit (“-“ for loss) 30,151,997 -53,143,504
Less: Income tax expenses
IV. Net profit (“-“ for net loss) 30,151,997 -53,143,504
V. Net amount of other gains after tax 69,064,515
(I) Other comprehensive income that will not be reclassified
into gains/losses afterward
1. Change of net liability or asset of beneficiary plan from
recalculating
2. The share of comprehensive income in invested entities
under equity method which can not be reclassified into profit
or loss
(II) Other comprehensive income items that will be
reclassified into gains/losses in the subsequent accounting 69,064,515
period
1. The share of comprehensive income in invested entities
under equity method which can be reclassified into profit or
loss afterward
2.Gains and losses from changes in fair value available for
69,064,515
sale financial assets
3.Held-to-maturity investments reclassified to gains and
losses of available for sale financial assets
4.The effective portion of cash flow hedges and losses
5.Translation differences in currency financial statements
6.Other
VI. Total of comprehensive income 30,151,997 15,921,011
VII. Earnings per share:
(I) Basic earnings per share
(II) Diluted earnings per share
20
CSG HOLDING CO., LTD. The Third Quarter Report 2015
5. Consolidated income statement for Jan.-Sept. 2015
Unit: RMB
Items Balance of this period Balance of last period
I. Total revenue 5,377,129,947 5,148,947,434
Incl. Business income 5,377,129,947 5,148,947,434
Interest income
Insurance fee earned
Fee and commission received
II. Total business cost 5,178,089,033 4,681,563,328
Incl. Business cost 4,275,331,059 3,855,756,514
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 25,176,730 24,956,912
Sales expense 209,776,868 189,942,902
Administrative expense 449,002,551 433,277,674
Financial expenses 210,848,671 172,588,729
Asset impairment loss 7,953,154 5,040,597
Plus: gains from change of fair value (“-“for loss)
Investment gains (“-“ for loss) 141,088,467 324,518,883
Incl. Investment gains from affiliates
Exchange gains (“-“ for loss)
III. Operational profit (“-“ for loss) 340,129,381 791,902,989
Plus: non-operational income 99,606,192 81,428,182
Incl. Income from disposal of non-current assets 2,765,909 666,999
Less: non-operational expenditure 264,924 5,759,686
Incl. Loss from disposal of non-current assets 45,649 1,831,564
IV. Gross profit (“-“ for loss) 439,470,649 867,571,485
Less: Income tax expenses 30,518,083 87,445,381
V. Net profit (“-“ for net loss) 408,952,566 780,126,104
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CSG HOLDING CO., LTD. The Third Quarter Report 2015
Net profit attributable to the owners of parent company 394,069,370 737,288,641
Minor shareholders’ equity 14,883,196 42,837,463
VI. Net amount of other comprehensive income after tax 80,593,025 101,663,642
Net amount of other gains after tax attributable to owners of
80,763,572 101,663,642
parent company
(I) Other comprehensive income that will not be reclassified
into gains/losses afterward
1. Change of net liability or asset of beneficiary plan from
recalculating
2. The share of comprehensive income in invested entities
under equity method which can not be reclassified into profit
or loss
(II) Other comprehensive income items that will be
reclassified into gains/losses in the subsequent accounting 80,763,572 101,663,642
period
1. The share of comprehensive income in invested entities
under equity method which can be reclassified into profit or
loss afterward
2.Gains and losses from changes in fair value available for
80,536,743 99,415,431
sale financial assets
3.Held-to-maturity investments reclassified to gains and
losses of available for sale financial assets
4.The effective portion of cash flow hedges and losses
5.Translation differences in currency financial statements 226,829 2,248,211
6.Other
Net of profit of other comprehensive income attributable to
-170,547
Minority shareholders’ equity
VII. Total of comprehensive income 489,545,591 881,789,746
Total of misc. incomes attributable to the owners of the parent
474,832,942 838,952,283
company
Total misc gains attributable to the minor shareholders 14,712,649 42,837,463
VIII. Earnings per share:
(I) Basic earnings per share 0.19 0.36
(II) Diluted earnings per share 0.19 0.36
When merger under common control in current period, the net profits realized by the combined party before merger was RMB 0, the
net profits realized by the combined party in the last period was RMB 0.
22
CSG HOLDING CO., LTD. The Third Quarter Report 2015
6. Income statement of the Parent Company for Jan.-Sept. 2015
Unit: RMB
Items Balance of this period Balance of last period
I. Revenue 0 0
Less:business cost 0 0
Business tax and surcharge 2,935,353
Sales expense
Administrative expense 27,148,538 63,248,954
Financial expenses 87,940,430 89,617,240
Asset impairment loss 1,775,482 2,479
Plus: gains from change of fair value (“-“for loss)
Investment gains (“-“ for loss) 596,485,329 775,537,902
Incl. Investment gains from affiliates
II. Operational profit (“-“ for loss) 476,685,526 622,669,229
Plus: non-operational income 22,485,156 1,583,968
Incl. Income from disposal of non-current assets 450
Less: non-operational expenditure 2,701,800
Incl. Loss from disposal of non-current assets
III. Gross profit (“-“ for loss) 499,170,682 621,551,397
Less: Income tax expenses -20,048,352 -9,462,390
IV. Net profit (“-“ for net loss) 519,219,034 631,013,787
V. Net amount of other comprehensive income after tax 79,790,488 76,623,300
(I) Other comprehensive income that will not be reclassified
into gains/losses afterward
1. Change of net liability or asset of beneficiary plan from
recalculating
2. The share of comprehensive income in invested entities
under equity method which can not be reclassified into profit
or loss
(II) Other comprehensive income items that will be
reclassified into gains/losses in the subsequent accounting 79,790,488 76,623,300
period
1. The share of comprehensive income in invested entities
under equity method which can be reclassified into profit or
loss afterward
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CSG HOLDING CO., LTD. The Third Quarter Report 2015
2.Gains and losses from changes in fair value available for
79,790,488 76,623,300
sale financial assets
3.Held-to-maturity investments reclassified to gains and
losses of available for sale financial assets
4.The effective portion of cash flow hedges and losses
5.Translation differences in currency financial statements
6.Other
VI. Total of comprehensive income 599,009,522 707,637,087
VII. Earnings per share:
(I) Basic earnings per share
(II) Diluted earnings per share
7. Consolidated Cash Flow Statement for Jan.-Sept. 2015
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
5,851,005,595 5,825,485,483
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 the financial assets measured by
fair value with the changes included in the 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 38,071,725 31,533,095
Other cash received from business operation 54,800,446 42,980,209
Sub-total of cash inflow from business activities 5,943,877,766 5,899,998,787
Cash paid for purchasing of merchandise and services 3,871,963,653 3,578,307,591
24
CSG HOLDING CO., LTD. The Third Quarter Report 2015
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 655,327,681 590,090,786
Taxes paid 386,087,119 447,023,632
Other cash paid for business activities 349,353,425 326,798,515
Sub-total of cash outflow from business activities 5,262,731,878 4,942,220,524
Net cash flow generated by business operation 681,145,888 957,778,263
II. Cash flow generated by investing
Cash received from investment retrieving 153,447,723 27,551,490
Cash received as investment profit 75,837,593 26,778,821
Net cash retrieved from disposal of fixed assets, intangible
2,765,132 26,296,167
assets, and other long-term assets
Net cash received from disposal of subsidiaries or other
240,531,849 463,160,123
operational units
Other investment-related cash received 13,714,126 152,244,310
Sub-total of cash inflow due to investment activities 486,296,423 696,030,911
Cash paid for construction of fixed assets, intangible assets
833,899,175 1,481,073,373
and other long-term assets
Cash paid as investment 296,706,050 125,001,894
Net increase of loan against pledge
Net cash received from subsidiaries and other operational
units
Other cash paid for investment activities 8,020,998 19,223,163
Sub-total of cash outflow due to investment activities 1,138,626,223 1,625,298,430
Net cash flow generated by investment -652,329,800 -929,267,519
III. Cash flow generated by financing
Cash received as investment 33,636,000
Incl. Cash received as investment from minor shareholders 33,636,000
Cash received as loans 5,770,024,625 4,232,426,249
Cash received from bond placing
Other financing-related cash received 527,258 355,928,909
Subtotal of cash inflow from financing activities 5,770,551,883 4,621,991,158
25
CSG HOLDING CO., LTD. The Third Quarter Report 2015
Cash to repay debts 4,469,686,738 3,868,101,383
Cash paid as dividend, profit, or interests 1,227,084,591 769,783,652
Incl. Dividend and profit paid by subsidiaries to minor
41,417,700 55,550,039
shareholders
Other cash paid for financing activities 84,144,165 5,095,674
Subtotal of cash outflow due to financing activities 5,780,915,494 4,642,980,709
Net cash flow generated by financing -10,363,611 -20,989,551
IV. Influence of exchange rate alternation on cash and cash
-641,180 -811,459
equivalents
V. Net increase of cash and cash equivalents 17,811,297 6,709,734
Plus: Balance of cash and cash equivalents at the beginning of
156,838,261 276,450,869
term
VI. Balance of cash and cash equivalents at the end of term 174,649,558 283,160,603
8. Cash Flow Statement of the Parent Company for Jan.-Sept. 2015
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 2,421,705 1,516,991
Sub-total of cash inflow from business activities 2,421,705 1,516,991
Cash paid for purchasing of merchandise and services 251,167 1,500
Cash paid to staffs or paid for staffs 55,165,169 55,401,137
Taxes paid 3,267,191 17,013,717
Other cash paid for business activities 9,174,545 15,909,895
Sub-total of cash outflow from business activities 67,858,072 88,326,249
Net cash flow generated by business operation -65,436,367 -86,809,258
II. Cash flow generated by investing
Cash received from investment retrieving 145,377,279
Cash received as investment profit 571,220,176 552,876,473
Net cash retrieved from disposal of fixed assets, intangible assets,
450 294
and other long-term assets
Net cash received from disposal of subsidiaries or other
258,801,535 468,000,000
operational units
26
CSG HOLDING CO., LTD. The Third Quarter Report 2015
Other investment-related cash received 240,000
Sub-total of cash inflow due to investment activities 975,399,440 1,021,116,767
Cash paid for construction of fixed assets, intangible assets and
1,062,202 544,801
other long-term assets
Cash paid as investment 45,791,650 212,278,929
Net cash received from subsidiaries and other operational units
Other cash paid for investment activities 4,229,882
Sub-total of cash outflow due to investment activities 51,083,734 212,823,730
Net cash flow generated by investment 924,315,706 808,293,037
III. Cash flow generated by financing
Cash received as investment
Cash received as loans 5,255,447,602 4,338,944,491
Cash received from bond placing
Other financing-related cash received
Subtotal of cash inflow from financing activities 5,255,447,602 4,338,944,491
Cash to repay debts 3,896,297,602 3,906,944,491
Cash paid as dividend, profit, or interests 1,146,102,939 676,247,501
Other cash paid for financing activities 1,075,248,268 494,855,576
Subtotal of cash outflow due to financing activities 6,117,648,809 5,078,047,568
Net cash flow generated by financing -862,201,207 -739,103,077
IV. Influence of exchange rate alternation on cash and cash
-5,576,023 -82,654
equivalents
V. Net increase of cash and cash equivalents -8,897,891 -17,701,952
Plus: Balance of cash and cash equivalents at the beginning of
67,898,286 129,337,516
term
VI. Balance of cash and cash equivalents at the end of term 59,000,395 111,635,564
II .Auditor’s Report
Whether the third quarter report has been audited or not
□Yes √No
The third quarter report of the Company has not been audited.
Board of Directors of
CSG Holding Co., Ltd.
28 October 2015
27
