CSG HOLDING CO., LTD.
THE FIRST QUARTER REPORT 2019
Chairman of the Board:
CHEN LIN
April 2019
CSG HOLDING CO., LTD. The First Quarter Report 2019
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, individual and/or joint, for the facticity, accuracy and
completeness of the whole contents.
All directors were present at the meeting of the Board for deliberating the First Quarter Report of
the Company in person.
Ms. Chen Lin, Chairman of the Board, Mr. Wang Jian, responsible person in charge of the
accounting and Ms. Wang Wenxin, principal of the financial department (accounting officer)
confirm that the Financial Report enclosed in the First Quarter Report 2019 is true, accurate and
complete.
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 2019
Section II The basic situation of the Company
I. Main accounting data and indices
Whether the company need to retroactively adjust or restate the previous year's accounting data or not
□Yes √ No
The 1st quarter of 2019 The 1st quarter of 2018 Percentage of change (%)
Operating income (RMB) 2,222,721,514 2,629,471,994 -15.47%
Net profit attributable to shareholders of
132,188,324 159,382,821 -17.06%
the listed company(RMB)
Net profit attributable to shareholders of
the listed company after deducting 82,573,767 152,948,714 -46.01%
non-recurring gains and losses(RMB)
Net cash flow arising from operating
136,317,362 60,223,706 126.35%
activities(RMB)
Basic earnings per share (RMB/Share) 0.05 0.06 -16.67%
Diluted earnings per share (RMB/Share) 0.05 0.06 -16.67%
Weighted average ROE (%) 1.44% 1.86% -0.42%
31 March 2019 31 December 2018 Percentage of change (%)
Total assets (RMB) 19,038,937,263 19,114,234,184 -0.39%
Net assets attributable to shareholder of
9,241,889,126 9,103,154,571 1.52%
listed company(RMB)
The total share capital of the company as of the previous trading day of disclosure:
The total share capital of the company as of the previous trading day of disclosure ( share ) 2,862,840,482
Fully diluted earnings per share calculated with latest equity ( RMB/share ) 0.05
Note: The total amount of 436,719 shares of restricted stocks held by 8 unqualified original incentives, which had been repurchased
but not yet cancelled, were deducted from the total share capital.
Items and amounts of extraordinary profit (gains)/losses
√Applicable □ Not applicable
Unit: RMB
Amount from beginning of the year to
Item Note
the end of the report period
Gains/losses from the disposal of non-current asset (including the
6,877,195
write-off that accrued for impairment of assets)
Governmental subsidy reckoned into current gains/losses (not
47,460,637
including the subsidy enjoyed in quota or ration according to
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CSG HOLDING CO., LTD. The First Quarter Report 2019
national standards, which are closely relevant to enterprise’s
business)
Loss and profit on external entrusted loan 5,345,912
Other non-operating income and expenditure except for the
-736,384
aforementioned items
Other gains/losses satisfied definition of extraordinary profit
-
(gains)/loss
Less: Impact on income tax 8,049,219
Impact on minority shareholders’ equity (post-tax) 1,283,584
Total 49,614,557 --
During the report period, the Company didn’t have the case of extraordinary profit (gains)/loss defined as a regular profit and loss
project, which was defined and enumerated 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. The total number of common shareholders and the number of preference shareholders with voting rights
recovered as well as the top ten shareholders
Unit: Share
The total number of common shareholders The total number of preference shareholders with voting
149,447 N/A
at the end of the report period rights recovered at end of report period (if applicable)
Particulars about the shares held by the top ten shareholders
Number of share
Proportion Amount of
Amount of pledged/frozen
Name of shareholder Nature of shareholder of shares restricted
shares held Share
held (%) shares held Amount
status
Foresea Life Insurance Co., Ltd. – Haili Domestic non state-owned
14.81% 423,988,067
Niannian legal person
Foresea Life Insurance Co., Ltd. – Domestic non state-owned
3.76% 107,659,097
Universal Insurance Products legal person
Domestic non state-owned
Shenzhen Jushenghua Co., Ltd. 2.75% 78,757,679 Pledged 63,000,000
legal person
Foresea Life Insurance Co., Ltd. – Own Domestic non state-owned
2.06% 58,877,419
Fund legal person
Central Huijin Asset Management Ltd. State-owned legal person 1.84% 52,650,444
China Galaxy International Securities
Foreign legal person 1.30% 37,313,064
(Hong Kong) Co., Limited
UBS AG Foreign legal person 1.14% 32,607,190
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CSG HOLDING CO., LTD. The First Quarter Report 2019
China Merchants Securities (HK) Co.,
State-owned legal person 1.03% 29,604,239
Limited
Shenzhen International Holdings (SZ)
State-owned legal person 0.92% 26,450,000
Limited
VANGUARD EMERGING MARKETS
Foreign legal person 0.61% 17,563,848
STOCK INDEX FUND
Particular about the top ten shareholders with un-restrict shares held
Amount of unrestricted Type of shares
Shareholders’ name shares held at the end of
Type Amount
the period
Foresea Life Insurance Co., Ltd. – Haili Niannian 423,988,067 RMB ordinary shares 423,988,067
Foresea Life Insurance Co., Ltd. – Universal Insurance Products 107,659,097 RMB ordinary shares 107,659,097
Shenzhen Jushenghua Co., Ltd. 78,757,679 RMB ordinary shares 78,757,679
Foresea Life Insurance Co., Ltd. – Own Fund 58,877,419 RMB ordinary shares 58,877,419
Central Huijin Asset Management Ltd. 52,650,444 RMB ordinary shares 52,650,444
Domestically listed
China Galaxy International Securities (Hong Kong) Co., Limited 37,313,064 37,313,064
foreign shares
UBS AG 32,607,190 RMB ordinary shares 32,607,190
Domestically listed
China Merchants Securities (HK) Co., Limited 29,604,239 29,604,239
foreign shares
Shenzhen International Holdings (SZ) Limited 26,450,000 RMB ordinary shares 26,450,000
Domestically listed
VANGUARD EMERGING MARKETS STOCK INDEX FUND 17,563,848 17,563,848
foreign shares
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. is a related legal person of Foresea Life Insurance
Statement on associated relationship or Co., Ltd. and Chengtai Group Co., Ltd., another related legal person of Foresea Life
consistent action among the above Insurance Co., Ltd, which held 36,534,458 shares via China Galaxy International
shareholders: Securities (Hong Kong) Co., Limited.
Except for the above-mentioned shareholders, it is unknown whether other
shareholders belong to related party or have associated relationship regulated by the
Management Regulation of Information Disclosure on Change of Shareholding for
Listed Companies.
Explanation on the top ten shareholders with
un-restrict shares held which involving N/A
margin business (if applicable)
Whether the top ten common shareholders or the top ten common shareholders holding unrestricted shares had a buy-back agreement
dealing in the report period or not
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CSG HOLDING CO., LTD. The First Quarter Report 2019
□ Yes √ No
The top ten common shareholders or the top ten common shareholders holding unrestricted shares of the Company had no buy-back
agreement dealing in the report period.
2. The total number of preferred shareholders of the company and particulars about the top ten preferred
shareholders
□ Applicable √ Not applicable
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CSG HOLDING CO., LTD. The First Quarter Report 2019
Section III. Important events
I. Particulars and explanations about significant changes in main accounting statements and
financial indices
√Applicable □ Not applicable
Unit: RMB 0,000
Amount of Percentage
Note 31 March 2019 31 December 2018
change of change
Accounts receivable (1) 92,781 59,223 33,558 57%
Assets held for sale (2) - 4,598 -4,598 -100%
Other current assets (3) 13,756 44,533 -30,777 -69%
Bills payable (4) 27,500 10,515 16,985 162%
Payroll payable (5) 12,525 26,646 -14,121 -53%
Interest payable (6) 10,066 7,361 2,705 37%
Amount of Percentage
Note Jan.-Mar.2019 Jan.-Mar.2018
change of change
Asset impairment loss (7) 682 463 219 47%
Income from asset disposal (8) 688 -102 790 -
Other income (9) 4,746 758 3,988 526%
Non-operating income (10) 69 220 -151 -69%
Non-operating expenses (11) 142 86 56 65%
Minority shareholder gains and losses (12) 375 -36 411 -
Other comprehensive income (13) -122 -203 81 -
Note:
(1) The increase in accounts receivable was mainly due to the increase in accounts receivable of the glass industry.
(2) The decrease in assets held for sale was mainly due to the disposal of assets held for sale.
(3) The decrease in other current assets was mainly due to the recovery of entrusted loans during the period.
(4) The increase in bills payable was mainly due to the increase in new bills issued during the period.
(5) The decrease in payroll payables was mainly due to the payment of the employee's year-end bonus accrued at the end of last
year was paid during the report period.
(6) The increase in interest payable was mainly due to the fact that interest payment for medium-term notes had not been paid in the
period for they were not due yet.
(7) The increase in asset impairment losses was mainly due to the increase in provision for bad debts of accounts receivable.
(8) The increase in income from asset disposal was mainly due to the disposal of assets held for sale during the period.
(9) The increase in other income was mainly due to the increase in amortization of government subsidies.
(10) The decrease in non-operating income was mainly due to a slight decrease in government grants during the period.
(11) The increase in non-operating expenses was mainly due to the increase in donation expenses.
(12) The increase in minority shareholders' gains and losses was mainly due to the increase in net profit of some subsidiaries with
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CSG HOLDING CO., LTD. The First Quarter Report 2019
minority shareholders.
(13) The increase in other comprehensive income was mainly due to the change in the translation difference of foreign currency
statements.
II. The progress and the impact of material events and analysis on the solutions
√Applicable □ Not applicable
1. Short-term Financing Bills
On Dec.14, 2016, the second extraordinary shareholders’ general meeting of 2016 of CSG deliberated and approved the proposal of
the offering and registration of short-term financing bills, and agreed the Company’s registration and issuance of short-term financing
bills with a total amount of RMB 2.7 billion, which could be issued by stages within period of validity of the registration according to
the Company’s actual demands for funds and the status of inter-bank funds. However, the term of each issue shall not be longer than
one year and the registered quota shall not exceed 40 percent of the Company’s net assets.
2. Ultra-short-term financing bills
On May 14, 2018, the Company’s 2017 annual shareholders’ meeting deliberated and approved the resolution on the application for
registration and issuance of ultra-short-term financing bills, which agreed that the Company should register and issue ultra-short-term
financing bills with a registered amount not exceeding 4 billion yuan (not subject to the restriction that the amount of ultra-short-erm
issued shall not exceed 40% of net assets). With the period of validity of the quota not longer than two years, such ultra-short-term
financing bills will be issued by installments in accordance with the actual capital needs of the Company and the situation of
inter-bank market funds. On Sep. 17, 2018, the Chinese Association of Interbank Market Traders held its 63rd registration meeting in
2018, and decided to approve the registration of the ultra-short-term financing bills with a total amount of 1.5 billion yuan and a
validity period of two years. The ultra-short-term financing bills are underwritten jointly by Minsheng Bank of China Limited and
Industrial Bank Co., Ltd, and can be issued by installments within the validity period of registration.
3. Perpetual bonds
On April 15, 2016, the Shareholders’ General Meeting 2015 of CSG deliberated and approved the proposal of application for
registration and issuance of perpetual bonds, and agreed the Company to register and issue perpetual bonds with a total amount of
RMB 3.1 billion which could be issued by stages within period of validity of the registration according to the Company’s actual
demand for funds and the capital status of inter-bank market.
4. Medium-term notes
On 10 December 2014, the First Extraordinary Shareholders’ General Meeting 2014 of CSG Holding Co., Ltd deliberated and
approved the proposal of application for registration and issuance of medium-term notes with a total amount of RMB 1.2 billion at
most. On 21 May 2015, National Association of Financial Market Institutional Investors (NAFMII) held the 32nd registration
meeting of 2015, in which NAFMII decided to accept the registration of the Company’s medium-term notes, amounting to RMB 1.2
billion and valid for two years. China Merchants Bank Co., Ltd. and Shanghai Pudong Development Bank Co., Ltd. were joint lead
underwriters of these medium-term notes which could be issued by stages within period of validity of the registration on Jul.14, 2015,
the Company issued the first phase of medium-term notes with a total amount of RMB 1.2 billion and valid term of 5 years at the
issuance rate of 4.94%, which will be redeemed on 14 July 2020.
On April 15, 2016, the Shareholders’ General Meeting of 2015 of CSG deliberated and approved the proposal of application for
registration and issuance of medium-term notes with a total amount of RMB 0.8 billion, which could be issued by stages within
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CSG HOLDING CO., LTD. The First Quarter Report 2019
period of validity of the registration according to the Company’s actual demands for funds and the status of inter-bank funds. On 2
March 2018, National Association of Financial Market Institutional Investors (NAFMII) held the 14th registration meeting of 2018, in
which NAFMII decided to accept the registration of the Company’s medium-term notes, amounting to RMB 0.8 billion and valid for
two years. Shanghai Pudong Development Bank Co., Ltd. and China CITIC Bank Corporation Limited were joint lead underwriters
of these medium-term notes which could be issued by stages within period of validity of the registration. On May 4, 2018, the
Company issued the first phase of medium-term notes with a total amount of RMB 0.8 billion and valid term of three years at the
issuance rate of 7%, which will be redeemed on May 4, 2021.
On May 22, 2017, the Shareholders’ General Meeting of 2016 of CSG deliberated and approved the proposal of application for
registration and issuance of medium-term notes with a total amount of RMB 1 billion, which could be issued by stages within period
of validity of the registration according to the Company’s actual demands for funds and the status of inter-bank funds.
For details, please refer to www.chinabond.com.cn and www.chinamoney.com.cn.
5. Public issuance of corporate bonds
On March 2, 2017, the 2nd Extraordinary General Meeting of Shareholders of 2017 deliberated and approved “the Proposal on the
Public Issuance of Corporate Bonds for Qualified Investors". On February 27, 2019, the First Extraordinary General Meeting of
Shareholders of 2019 deliberated and approved “the Proposal on Extending the Validity of the Shareholders' Meeting Resolution for
the Public Issuance of Corporate Bonds for Qualified Investors”, and agreed the Company to issue corporate bonds with a total issue
of no more than RMB 2 billion and a term of no more than 10 years.
6. Meetings of Medium-term note holders during the report period
On January 8, 2019, the Company released “the Announcement on Convening of 2015 First-phase of Medium-term Note Holders'
Meeting of CSG Holding Co., Ltd.” and “the Announcement on Convening of 2018 First-phase of Medium-term Note Holders'
Meeting of CSG Holding Co., Ltd.” due to the Company’s capital reduction for the repurchase and cancellation of some restricted
shares of the restricted equity incentive plan. On January 22, 2019, the Company's 2015 first-phase of medium-term note holders’
meeting and 2018 first-phase of medium-term note holders’ meeting were held and voted off-site. The 2015 first-phase of
medium-term note holders’ meeting and the 2018 first-phase of medium-term note holders’ meeting did not take effect as the total
voting rights held by the holders attending the meeting did not reach two-thirds of the total voting rights as required.
7. Entrusted Loan
On December 21, 2018, the Extraordinary Meeting of the 8th Board of Directors deliberated and approved “the Proposal on
Providing External Entrusted Loans”. The Company issued an entrusted loan with a total amount of RMB 0.3 billion to Tengchong
Yuezhou Water Investment Development Co., Ltd. via China Everbright Bank shenzhen(Nanshan) branch. The valid term of the
entrusted loan was 3 months and its annual interest rate was 8.5%. On March 22, 2019, the principal and income of the
above-mentioned entrusted loan was repaid as agreed in the contract.
Progress of implementation of share repurchase
□Applicable √ Not applicable
Progress of implementation of the reduction of the repurchased shares by means of centralized price bidding
□Applicable √ Not applicable
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CSG HOLDING CO., LTD. The First Quarter Report 2019
III. Failure in due fulfillment of commitments of the actual controllers, shareholders, affiliates,
and acquirers of listed company as well as the listed company during the report period
□Applicable √Not applicable
It did not exist that commitments of the actual controllers, shareholders, affiliates, and acquirers of listed company as well as the
listed company failed to be fulfilled on time during the report period.
IV. Predict of the business performance from January to June 2019
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 during the report period.
VI. Derivative investment
□ Applicable √ Not applicable
There was no derivative investment during the report period.
VII. Registration form for receiving research, communication and interview during the report
period
□ Applicable √ Not applicable
The Company did not receive any research, communication or interviews during the report period.
VIII. Particulars about illegal external guarantee
□ Applicable √Not applicable
The Company had no illegal external guarantee in the report period.
IX. Particulars about non-operating fund of listed company which is occupied by controlling
shareholder and its affiliated enterprises
□ Applicable √ Not applicable
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CSG HOLDING CO., LTD. The First Quarter Report 2019
Section IV Financial Report
I. Financial Statements
1. Consolidated balance sheet
Prepared by CSG Holding Co., Ltd.
Unit: RMB
Item Ending balance Beginning balance
Current asset:
Monetary Fund 2,367,406,487 2,226,447,720
Settlement provisions
Lendings to Banks and Other Financial Institutions
Transactional financial assets
Financial assets measured at fair value through profit or
loss
Derivative financial assets
Notes receivable and accounts receivable 1,446,468,814 1,311,608,760
Incl.: Notes receivable 518,658,477 719,375,448
Accounts receivable 927,810,337 592,233,312
Prepayments 102,966,630 91,176,675
Premium receivable
Accounts receivable reinsurance
Reserve for reinsurance receivable contracts
Other receivables 213,754,669 207,424,295
Incl.: Interest receivable
Dividend receivable
Buying back the sale of financial assets
Stock 753,404,127 600,139,750
Contract assets
Assets held for sale 45,983,520
Non-current assets due within one year
Other current assets 137,555,392 445,327,449
Total current assets 5,021,556,119 4,928,108,169
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CSG HOLDING CO., LTD. The First Quarter Report 2019
Non-current assets:
Loans and advances
Debt investment
Available for sale financial assets
Other debt investment
Held-to-maturity investment
Long-term receivables
Long-term equity investment
Investment in other equity instruments
Other non-current financial assets
Investment real estate
Fixed assets 9,754,386,128 9,930,843,775
Construction in progress 2,578,710,963 2,559,179,442
Productive biological assets
Oil and gas assets
Right of use assets
Intangible assets 1,042,727,117 1,035,731,324
Development expenditure 63,358,454 74,549,257
Goodwill 376,720,156 376,720,156
Long-term prepaid expenses 12,278,598 12,746,609
Deferred tax assets 135,084,054 139,529,518
Other non-current assets 54,115,674 56,825,934
Total non-current assets 14,017,381,144 14,186,126,015
Total assets 19,038,937,263 19,114,234,184
Current liabilities:
Short-term loan 2,907,911,732 2,922,679,590
Borrowing from the Central Bank
Loans from other banks
Transactional financial liabilities
Financial liabilities measured at fair value through profit
or loss
Derivative financial liabilities
Notes payable and accounts payable 1,407,340,246 1,315,009,263
Advance payment 193,978,924 206,631,008
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CSG HOLDING CO., LTD. The First Quarter Report 2019
Financial Assets Sold for Repurchase
Absorbing deposits and interbank deposits
Acting trading securities
Acting underwriting securities
Payroll payable 125,250,903 266,459,151
Taxes payable 99,658,810 111,967,365
Other payables 514,488,917 552,751,187
Incl.: Interest payable 100,660,637 73,612,703
Dividend payable 2,827,373 2,846,362
Fees and commissions payable
Accounts payable reinsurance
Contract liability
Liabilities held for sale
Non-current liabilities due within one year 769,577,381 819,448,742
Other current liabilities 300,000 300,000
Total current liabilities 6,018,506,913 6,195,246,306
Non-current liabilities:
Insurance contract reserve
Long term loan 2,306,137,500 2,315,700,000
Bonds payable
Incl.: Preferred stock
Perpetual bond
Lease liability
Long-term payables 536,586,830 529,910,796
Long-term payroll pay
Estimated liabilities
Deferred income 564,376,142 601,825,780
Deferred income tax liabilities 21,412,781 22,118,840
Other non-current liabilities
Total non-current liabilities 3,428,513,253 3,469,555,416
Total Liabilities 9,447,020,166 9,664,801,722
Owners' equity:
Share capital 2,862,840,482 2,863,277,201
Other equity instruments
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CSG HOLDING CO., LTD. The First Quarter Report 2019
Incl.: Preferred stock
Perpetual bond
Capital reserve 1,101,170,945 1,095,339,421
Less: treasury shares 275,555,628 277,180,983
Other comprehensive income 3,858,321 5,080,234
Special reserves 6,816,584 6,068,600
Surplus reserve 924,305,375 924,305,375
General risk preparation
Undistributed profits 4,618,453,047 4,486,264,723
Total owner's equity attributable to the parent company 9,241,889,126 9,103,154,571
Minority shareholders' equity 350,027,971 346,277,891
Total owner's equity 9,591,917,097 9,449,432,462
Total Liabilities and Owner's Equity 19,038,937,263 19,114,234,184
Legal Representative ： Chen Lin Responsible person in charge of the accounting: Wang Jian
Principal of the financial department: Wang Wenxin
2. Balance Sheet of the Parent Company
Unit: RMB
Item Ending balance Beginning balance
Current asset:
Monetary Fund 1,157,296,686 1,700,726,151
Transactional financial assets
Financial assets measured at fair value through profit or
loss
Derivative financial assets
Notes receivable and accounts receivable
Incl.: Notes receivable
Accounts receivable
Prepayments 821,265 438,167
Other receivables 3,384,540,626 2,912,516,245
Incl.: Interest receivable
Dividend receivable
Stock
Contract assets
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CSG HOLDING CO., LTD. The First Quarter Report 2019
Assets held for sale
Non-current assets due within one year
Other current assets 300,000,000
Total current assets 4,542,658,577 4,913,680,563
Non-current assets:
Debt investment
Available for sale financial assets
Other debt investment
Held-to-maturity investment
Long-term receivables 1,200,000,000 1,200,000,000
Long-term equity investment 4,969,220,435 4,964,696,831
Investment in other equity instruments
Other non-current financial assets
Investment real estate
Fixed assets 19,707,895 20,926,071
Construction in progress
Productive biological assets
Oil and gas assets
Right of use assets
Intangible assets 732,793 879,146
Development expenditure
Goodwill
Long-term prepaid expenses
Deferred tax assets
Other non-current assets 1,711,338 732,038
Total non-current assets 6,191,372,461 6,187,234,086
Total assets 10,734,031,038 11,100,914,649
Current liabilities:
Short-term loan 2,050,000,000 2,000,000,000
Transactional financial liabilities
Financial liabilities measured at fair value through profit
or loss
Derivative financial liabilities
Notes payable and accounts payable 150,209,636 261,024
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CSG HOLDING CO., LTD. The First Quarter Report 2019
Advance payment
Contract liability
Payroll payable 6,383,825 41,096,020
Taxes payable 2,223,489 1,099,231
Other payables 1,161,989,965 1,668,587,218
Incl.: Interest payable 55,455,963 41,572,125
Dividend payable 2,827,373 2,846,362
Liabilities held for sale
Non-current liabilities due within one year
Other current liabilities
Total current liabilities 3,370,806,915 3,711,043,493
Non-current liabilities:
Long term loan 2,000,000,000 2,000,000,000
Bonds payable
Incl.: Preferred stock
Perpetual bond
Lease liability
Long-term payables
Long-term payroll pay
Estimated liabilities
Deferred income 184,088,245 184,642,520
Deferred income tax liabilities
Other non-current liabilities
Total non-current liabilities 2,184,088,245 2,184,642,520
Total Liabilities 5,554,895,160 5,895,686,013
Owners' equity:
Share capital 2,862,840,482 2,863,277,201
Other equity instruments
Incl.: Preferred stock
Perpetual bond
Capital reserve 1,245,998,259 1,240,166,735
Less: treasury shares 275,555,628 277,180,983
Other comprehensive income
Special reserves
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CSG HOLDING CO., LTD. The First Quarter Report 2019
Surplus reserve 938,850,735 938,850,735
Undistributed profits 407,002,030 440,114,948
Total owner's equity 5,179,135,878 5,205,228,636
Total Liabilities and Owner's Equity 10,734,031,038 11,100,914,649
3. Consolidated Income Statement
Unit: RMB
Item Balance of this period Balance of last period
I. Total revenue 2,222,721,514 2,629,471,994
Incl. :Business income 2,222,721,514 2,629,471,994
Interest income
Earned premium
Fee and commission income
II. Total business cost 2,112,290,384 2,449,790,563
Incl. :Business cost 1,710,257,358 1,983,212,565
Interest expense
Fee and commission expenses
Surrender value
Net reimbursement expenditure
Net amount of withdrawal of insurance contract
reserve
Expenditures dividend policy
Amortized Reinsurance Expenditures
Taxes and surcharges 26,974,283 37,091,336
Sales expense 82,460,250 79,742,352
Management costs 123,978,598 171,498,676
Research and development expenses 79,671,948 81,471,157
Financial expenses 82,123,543 92,147,066
Incl. : Interest expense 87,627,795 96,320,142
Interest income 6,719,497 10,389,262
Asset impairment loss 6,824,404 4,627,411
Credit impairment loss
Plus: Other income 47,460,637 7,579,659
Investment income (“-“ for loss)
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CSG HOLDING CO., LTD. The First Quarter Report 2019
Incl. : Investment income in associates and joint
ventures
Exchange gains (“-“ for loss)
Net open hedge income (“-“ for loss)
Fair value change income(“-“ for loss)
Asset disposal income(“-“ for loss) 6,877,195 -1,023,284
III. Operational profit (“-“ for loss) 164,768,962 186,237,806
Plus: non-operational income 687,874 2,200,396
Less: non-operational expenses 1,424,258 861,285
IV. Gross profit (“-“ for loss) 164,032,578 187,576,917
Less: Income tax expenses 28,094,174 28,552,401
V. Net profit (“-“ for net loss) 135,938,404 159,024,516
(I) Classification by business continuity
1. Net profit from continuous operation(“-“ for net loss) 135,938,404 159,024,516
2. Discontinued operating net profit(“-“ for net loss)
(II) Classification by ownership
1. Net profit attributable to the owners of parent company 132,188,324 159,382,821
2. Minor shareholders’ equity 3,750,080 -358,305
VI. Net after-tax amount of other comprehensive income -1,221,913 -2,029,007
Net after-tax amount of other comprehensive income
-1,221,913 -2,029,007
attributable to the owner of the parent company
(I) Other comprehensive income that cannot be
reclassified into profit or loss
1. Re-measure the change in the defined benefit
plan
2. Other comprehensive income that cannot be
transferred to profit or loss under the equity method
3. Changes in fair value of other equity instruments
investment
4. Changes in the fair value of the company's own
credit risk
5.Others
(II) Other comprehensive income that will be reclassified
-1,221,913 -2,029,007
into profit or loss
1. Other comprehensive income that can be
transferred to profit or loss under the equity method
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CSG HOLDING CO., LTD. The First Quarter Report 2019
2. Changes in fair value of other debt investments
3. Gains and losses from changes in fair value of
available-for-sale financial assets
4. The amount of financial assets reclassified into
other comprehensive income
5. Held-to-maturity investments reclassified as
gains and losses on available-for-sale financial assets
6. Other debt investment credit impairment
provisions
7. Cash flow hedge reserve
8. Foreign-currency financial statement translation
-1,221,913 -2,029,007
difference
9. Others
Net after-tax amount of other comprehensive income
attributable to minority shareholders
VII. Total comprehensive income 134,716,491 156,995,509
Total comprehensive income attributable to owners of the
130,966,411 157,353,814
Company
Total comprehensive income attributable to minority
3,750,080 -358,305
shareholders
VIII. Earnings per share
(I) Basic earnings per share 0.05 0.06
(II) Diluted earnings per share 0.05 0.06
Legal Representative ： Chen Lin Responsible person in charge of the accounting: Wang Jian
Principal of the financial department: Wang Wenxin
4. Income Statement of the Parent Company
Unit: RMB
Item Balance of this period Balance of last period
I. Operating revenue 20,108,542 14,497,732
Less: Business cost
Taxes and surcharges 220,610 125,403
Sales expense
Management costs 22,307,483 36,644,195
Research and development expenses 8,833
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CSG HOLDING CO., LTD. The First Quarter Report 2019
Financial expenses 31,366,290 8,614,081
Incl. : Interest expense 36,970,255 17,912,092
Interest income 5,862,210 9,650,504
Asset impairment loss -3,481 761
Credit impairment loss
Plus: Other income 678,275 470,940
Investment income (“-“ for loss)
Incl. : Investment income in associates and joint
ventures
Net open hedge income (“-“ for loss)
Fair value change income(“-“ for loss)
Asset disposal income(“-“ for loss) 2,440
II. Operational profit (“-“ for loss) -33,112,918 -30,413,328
Plus: non-operational income 127,450
Less: non-operational expenses
III.. Gross profit (“-“ for loss) -33,112,918 -30,285,878
Less: Income tax expenses
IV. Net profit (“-“ for net loss) -33,112,918 -30,285,878
(I) Net profit from continuous operation(“-“ for net loss) -33,112,918 -30,285,878
(II) Discontinued operating net profit(“-“ for net loss)
V. Net after-tax amount of other comprehensive income
(I) Other comprehensive income that cannot be
reclassified into profit or loss
1. Re-measure the change in the defined benefit plan
2. Other comprehensive income that cannot be
transferred to profit or loss under the equity method
3. Changes in fair value of other equity instruments
investment
4. Changes in the fair value of the company's own credit
risk
5.Others
(II) Other comprehensive income that will be reclassified
into profit or loss
1. Other comprehensive income that can be transferred to
profit or loss under the equity method
2. Changes in fair value of other debt investments
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CSG HOLDING CO., LTD. The First Quarter Report 2019
3. Gains and losses from changes in fair value of
available-for-sale financial assets
4. The amount of financial assets reclassified into other
comprehensive income
5. Held-to-maturity investments reclassified as gains and
losses on available-for-sale financial assets
6. Other debt investment credit impairment provisions
7. Cash flow hedge reserve
8.Foreign-currency financial statement translation
difference
9. Others
VI. Total comprehensive income -33,112,918 -30,285,878
VII. Earnings per share
(I) Basic earnings per share
(II) Diluted earnings per share
5. Consolidated Cash Flow Statement
Unit: RMB
Item Balance of this period Balance of last period
I. Net cash flow from business operation:
Cash received from sales of products and providing of
2,268,333,166 2,585,745,573
services
Net increase in customer deposits and interbank deposits
Net increase in borrowing from the Central Bank
Net increase in disbursements to other financial
institutions
Cash received from the premium of the original insurance
contract
Net cash received from reinsurance business
Net increase of insured deposit and investment
Disposal of the net increase in financial assets measured at
fair value through profit or loss
Cash charged with interest, handling fees and commissions
Net increase in funds disbursed
Net increase in repurchase business funds
Net cash received from trading securities
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CSG HOLDING CO., LTD. The First Quarter Report 2019
Refunds of taxes 1,825,553 8,714,717
Received other cash related to business activities 26,891,640 19,321,411
Subtotal of cash inflow from operating activities 2,297,050,359 2,613,781,701
Cash paid for the purchase of goods and services 1,445,370,845 1,794,681,827
Net increase in customer loans and advances
Deposit of net increase in Central Bank and interbank
payments
Cash for payment of original insurance contract claims
Net increase in financial assets held for trading purposes
Net increase in funds dismantled
Cash for payment of interest, handling fees and
commissions
Cash paid for policy dividends
Cash paid to and for employees 418,315,107 421,471,968
Payments of all types of taxes 138,793,875 182,508,067
Payment of other cash related to business activities 158,253,170 154,896,133
Subtotal of cash outflow from operating activities 2,160,732,997 2,553,557,995
Net cash flow from operating activities 136,317,362 60,223,706
II. Cash flows from investing activities:
Recovery of Cash Received from Investment
Cash received from investment income
Net cash recovered from disposal of fixed assets,
334,400 1,772,886
intangible assets and other long-term assets
Net cash received from disposal of subsidiaries and other
business units
Other cash received relating to investing activities 209,085 3,249,483
Subtotal of cash inflows from investment activities 543,485 5,022,369
Cash paid for the purchase and construction of fixed
127,234,513 112,300,336
assets, intangible assets and other long-term assets
Cash for investment payments
Net increase in pledge loans
Net cash paid by subsidiaries and other business units
Other cash paid relating to investing activities 606,824 14,102,400
Subtotal of cash outflows from investment activities 127,841,337 126,402,736
Net cash flows from investing activities -127,297,852 -121,380,367
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CSG HOLDING CO., LTD. The First Quarter Report 2019
III. Cash flow from financing activities:
Cash received by absorbing investments
Incl. : Cash received by subsidiary companies to absorb
minority shareholders' Investment
Cash received from the loan 835,500,000 850,600,000
Cash received from the issuance of bonds
Other financing-related cash received 500,000,000 303,833
Subtotal of cash inflows from financing activities 1,335,500,000 850,903,833
Cash paid for debt repayment 930,211,970 545,750,000
Cash paid for dividends, profits or interest payments 62,397,350 81,914,082
Incl. : Dividends and profits paid by subsidiaries to
minority shareholders
Payment of other cash related to financing activities 359,331,565 213,115,386
Subtotal of cash outflows from financing activities 1,351,940,885 840,779,468
Net cash flow from financing activities -16,440,885 10,124,365
IV. Influence of exchange rate alternation on cash and cash
-1,620,779 -4,370,245
equivalents
V. Net increase in cash and cash equivalents -9,042,154 -55,402,541
Plus: Balance of cash and cash equivalents at the
2,225,126,913 2,459,753,165
beginning of term
VI. Balance of cash and cash equivalents at the end of term 2,216,084,759 2,404,350,624
6. Cash Flow Statement of the Parent Company
Unit: RMB
Item 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
Refunds of taxes
Received other cash related to business activities 12,431,042 10,761,525
Subtotal of cash inflow from operating activities 12,431,042 10,761,525
Cash paid for the purchase of goods and services
Cash paid to and for employees 51,404,986 38,812,139
Payments of all types of taxes 1,047,643 701,230
Payment of other cash related to business activities 8,308,180 4,822,289
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CSG HOLDING CO., LTD. The First Quarter Report 2019
Subtotal of cash outflow from operating activities 60,760,809 44,335,658
Net cash flow from operating activities -48,329,767 -33,574,133
II. Cash flows from investing activities:
Recovery of Cash Received from Investment
Cash received from investment income
Net cash recovered from disposal of fixed assets,
2,440
intangible assets and other long-term assets
Net cash received from disposal of subsidiaries and other
business units
Other cash received relating to investing activities
Subtotal of cash inflows from investment activities 2,440
Cash paid for the purchase and construction of fixed
1,522,855 262,260
assets, intangible assets and other long-term assets
Cash for investment payments
Net cash paid by subsidiaries and other business units
Other cash paid relating to investing activities
Subtotal of cash outflows from investment activities 1,522,855 262,260
Net cash flows from investing activities -1,522,855 -259,820
III. Cash flow from financing activities:
Cash received by absorbing investments
Cash received from the loan 700,000,000 500,000,000
Cash received from the issuance of bonds
Other financing-related cash received 152,171,097
Subtotal of cash inflows from financing activities 700,000,000 652,171,097
Cash paid for debt repayment 650,000,000 250,000,000
Cash paid for dividends, profits or interest payments 22,874,958 19,945,850
Payment of other cash related to financing activities 670,685,645
Subtotal of cash outflows from financing activities 1,343,560,603 269,945,850
Net cash flow from financing activities -643,560,603 382,225,247
IV. Influence of exchange rate alternation on cash and cash
-17,160 -33,040
equivalents
V. Net increase in cash and cash equivalents -693,430,385 348,358,254
Plus: Balance of cash and cash equivalents at the
1,699,514,334 1,680,672,390
beginning of term
VI. Balance of cash and cash equivalents at the end of term 1,006,083,949 2,029,030,644
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CSG HOLDING CO., LTD. The First Quarter Report 2019
II. Note to the Adjustment of Financial Statements
Adjustment of the relevant financial statements at current year beginning according to new standards for
financial instruments, the new standards for revenues and the new standards for lease initially
implemented
□ Applicable √Not applicable
2. Note to the retroactive adjustment of the previous comparative data according to the new standards for
financial instruments and the new standards for lease initially implemented
□ Applicable √Not applicable
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.
26 April 2019
24
