CSG HOLDING CO., LTD.
THE FIRST QUARTER REPORT 2020
Chairman of the Board:
CHEN LIN
April 2020
CSG HOLDING CO., LTD. The First Quarter Report 2020
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) declare
that the Financial Report enclosed in the First Quarter Report 2020 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 2020
Section II The basic situation of the Company
I. Main accounting data and financial indicators
Whether the company need to retroactively adjust or restate the previous year's accounting data or not
□Yes √ No
The 1st quarter of 2020 The 1st quarter of 2019 Percentage of change (%)
Operating income (RMB) 1,733,965,637 2,222,721,514 -21.99%
Net profit attributable to shareholders of
111,278,288 132,188,324 -15.82%
the listed company(RMB)
Net profit attributable to shareholders of
the listed company after deducting 101,805,077 82,573,767 23.29%
non-recurring gains and losses(RMB)
Net cash flow arising from operating
-11,126,768 136,317,362 -108.16%
activities(RMB) note(1)
Basic earnings per share (RMB/Share) 0.04 0.04 -
Diluted earnings per share (RMB/Share) 0.04 0.04 -
Weighted average ROE (%) 1.16% 1.44% -0.28%
31 March 2020 31 December 2019 Percentage of change (%)
Total assets (RMB) 20,247,986,997 18,201,235,959 11.25%
Net assets attributable to shareholder of
9,608,165,285 9,495,588,878 1.19%
listed company(RMB)
Note (1)：Due to the epidemic, sales revenue reduced.
The total share capital of the company as of the previous trading day of disclosure ( share ) 3,106,915,005
Fully diluted earnings per share calculated with latest equity ( RMB/share ) 0.04
Note: The total amount of 1,281,158 shares of restricted stocks held by 18 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
-494,285
write-off that accrued for impairment of assets)
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CSG HOLDING CO., LTD. The First Quarter Report 2020
Governmental subsidy reckoned into current gains/losses (not
including the subsidy enjoyed in quota or ration according to
20,792,152
national standards, which are closely relevant to enterprise’s
business)
Loss and profit on external entrusted loan 5,546,383
Other non-operating income and expenditure except for the
-16,631,286
aforementioned items
Less: Impact on income tax -308,097
Impact on minority shareholders’ equity (post-tax) 47,850
Total 9,473,211 --
For the non-recurring profit and loss items defined by the company in accordance with Q&A Announcement No.1 on Information
Disclosure for Companies Offering Their Securities to the Public --- Extraordinary Profit/loss, and the non-recurring profit and loss
items listed in Q&A Announcement No.1 on Information Disclosure for Companies Offering Their Securities to the Public ---
Extraordinary Profit/loss. are defined as recurring profit and loss items, the reasons shall be explained.
□ Applicable √ Not applicable
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
148,844 0
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. – Domestic non state-owned
15.01% 466,386,874
Hailiniannian legal person
Foresea Life Insurance Co., Ltd. – Domestic non state-owned
3.81% 118,425,007
Universal Insurance Products legal person
Domestic non state-owned
Zhongshanruntian Investment Co., Ltd. 2.79% 86,633,447 pledged 81,000,000
legal person
Foresea Life Insurance Co., Ltd. – Own Domestic non state-owned 2.08% 64,765,161
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CSG HOLDING CO., LTD. The First Quarter Report 2020
Fund legal person
Central Huijin Asset Management Ltd. State-owned legal person 1.86% 57,915,488
Hong Kong Securities Clearing Co., Ltd. Foreign legal person 1.80% 56,039,290
China Galaxy International Securities
Foreign legal person 1.33% 41,399,778
(Hong Kong) Co., Limited
China Merchants Securities (HK) Co.,
State-owned legal person 1.05% 32,486,067
Limited
Shenzhen International Holdings (SZ)
State-owned legal person 0.94% 29,095,000
Limited
VANGUARD EMERGING MARKETS
Foreign legal person 0.62% 19,320,233
STOCK INDEX FUND
Particulars 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. – Hailiniannian 466,386,874 RMB ordinary shares 466,386,874
Foresea Life Insurance Co., Ltd. – Universal Insurance Products 118,425,007 RMB ordinary shares 118,425,007
Zhongshanruntian Investment Co., Ltd. 86,633,447 RMB ordinary shares 86,633,447
Foresea Life Insurance Co., Ltd. – Own Fund 64,765,161 RMB ordinary shares 64,765,161
Central Huijin Asset Management Ltd. 57,915,488 RMB ordinary shares 57,915,488
Hong Kong Securities Clearing Co., Ltd. 56,039,290 RMB ordinary shares 56,039,290
Domestically listed
China Galaxy International Securities (Hong Kong) Co., Limited 41,399,778 41,399,778
foreign shares
Domestically listed
China Merchants Securities (HK) Co., Limited 32,486,067 32,486,067
foreign shares
Shenzhen International Holdings (SZ) Limited 29,095,000 RMB ordinary shares 29,095,000
Domestically listed
VANGUARD EMERGING MARKETS STOCK INDEX FUND 19,320,233 19,320,233
foreign shares
Among shareholders as listed above, Foresea Life Insurance Co., Ltd.-HailiNiannian, Foresea
Life Insurance Co., Ltd.-Universal Insurance Products, Foresea Life Insurance Co., Ltd.-Own
Fund are all held by Foresea Life Insurance Co., Ltd. Zhongshanruntian Investment Co., Ltd.
Statement on associated relationship is a related legal person of Foresea Life Insurance Co., Ltd. and Chengtai Group Co., Ltd.,
or consistent action among the another related legal person of Foresea Life Insurance Co., Ltd, which held 40,187,904 shares
above shareholders: via China Galaxy International 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 N/A
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CSG HOLDING CO., LTD. The First Quarter Report 2020
shareholders with un-restrict shares
held which involving 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.
□ 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 2020
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 2020 31 December 2019
change of change
Monetary Fund (1) 384,623 198,698 185,925 94%
Notes receivable (2) 14,042 29,702 -15,660 -53%
Advance payment (3) 11,448 7,820 3,628 46%
Inventories (4) 121,176 81,232 39,944 49%
Other current assets (5) 15,540 44,800 -29,260 -65%
Construction in progress (6) 252,242 190,214 62,028 33%
Advance from customers (7) - 29,280 -29,280 -100%
Contract liability (8) 28,951 - 28,951 -
Payroll payable (9) 16,391 33,787 -17,396 -51%
Taxes payable (10) 7,855 11,543 -3,688 -32%
Amount of Percentage
Note Jan.-Mar.2020 Jan.-Mar.2019
change of change
Credit impairment loss (11) 376 682 -306 -45%
Income from asset disposal (12) -49 688 -737 -107%
Other income (13) 2,079 4,746 -2,667 -56%
Non-operating expenses (14) 1,722 142 1,580 1113%
Minority shareholder gains and losses (15) 71 375 -304 -81%
Other comprehensive income (16) 149 -122 271
Notes:
(1) The increase in monetary fund was mainly due to the increase in cash received from the company's bonds issued in the current
period.
(2) The decrease in notes receivable was mainly due to the collection and use of notes at maturity.
(3)The increase in advance payment was mainly due to the increase of prepayment materials.
(4) The increase in inventories was mainly due to the decrease in shipments affected by the outbreak.
(5) The decrease in other current assets was mainly due to the collection of entrusted loans in the current period.
(6) The increase in construction in progress was mainly due to transfer of fixed assets of some subsidiaries to the technical renovation
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CSG HOLDING CO., LTD. The First Quarter Report 2020
of construction in process.
(7) The decrease in advance from customers was mainly due to the reclassification of advance from customers and contract liabilities
according to the new revenue criteria.
(8) The increase in contract liability was mainly due to the reclassification of advance payment and contract liability according to the
new revenue criterion.
(9) The decrease in payroll payable was mainly due to the payment of year-end bonus at the end of last year.
(10) The decrease in taxes payable was mainly due to the tax paid for the end of the previous reporting period.
(11) The decrease in credit impairment loss was mainly due to the reduction of accounts receivable bad debt provision.
(12) The decrease in income from asset disposal was mainly due to the disposal of assets held for sale in the previous period.
(13) The decrease in other income was mainly due to the reduction of the amortization of current government subsidies.
(14) The increase in non-operating expenses was mainly due to the increase of donation expenses during the epidemic.
(15) The decrease in profit and loss of minority shareholders was mainly due to the decrease in the net profit of the subsidiary with
minority shareholders.
(16) The increase in other comprehensive income was mainly due to 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. 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. On February 21, 2020, the
company issued ultra-short-term financing bonds with a total amount of 300 million yuan and a term of 270 days in the first phase of
2020, with an interest rate of 4% and a payment date of November 21, 2020.
2. 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 onJul.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
period of validity of the registration according to the Company’s actual demands for funds and the status of inter-bank funds. On 2
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CSG HOLDING CO., LTD. The First Quarter Report 2020
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.
For details, please refer to www.chinabond.com.cn and www.chinamoney.com.cn.
3. 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.
On July 22, 2019, the Company received the Reply on Approving the Public Issuance of Corporate Bonds by CSG Holding Co., Ltd.
to Qualified Investors (ZHJXK[2019] No. 1140) issued by China Securities Regulatory Commission. From Mar. 24, 2020 to Mar. 25,
2020, the Company issued the first phase of corporate bonds with a total amount of RMB 2.00 billion and valid term of three years at
the issuance rate of 6% ,which will be redeemed on Mar. 25, 2023.
On March 12, 2020, the 1st Extraordinary General Meeting of Shareholders of 2020 deliberated and approved “the Proposal on the
Public Issuance of Corporate Bonds to Qualified Investors”, and agreed the Company to issue corporate bonds with a total issue of no
more than RMB 1.8 billion and a term of no more than 10 years.
4. The interim meeting of the 8th board of directors of the Company held on Dec. 20, 2019 approved the resolution that the Company
would issue RMB 300.00 million entrusted loans to TengchongYuezhou Water Investment and Development Co., Ltd, with valid
term of three months and annual interest rate at 8.5%. By Mar. 24, 2020, the principal and income of the entrusted loan had been
recovered as agreed in contract.
5. Non-public issuance of A shares
The interim meeting of the 8th board of directors of the Company held on Mar. 5, 2020 deliberated and approved the related
proposals of non-public issuance of A shares, and agreed the Company to issue A shares privately. The proposals were deliberated
and approved by the 2nd Extraordinary General Meeting of Shareholders of 2020 which held on April 16, 2020.
For details, please refer to the relevant contents published on juchao information network (www.cninfo.com.cn) on March 6 and
April 17, 2020.
Progress of implementation of share repurchase
□Applicable √Not applicable
Progress of implementation of the reduction of there purchased shares by means of centralized price bidding
□Applicable √Not applicable
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CSG HOLDING CO., LTD. The First Quarter Report 2020
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 2020
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. Entrusted Financing
□ Applicable √ Not applicable
There was no Entrusted Financing during the report period
VII. Derivative investment
□ Applicable √ Not applicable
There was no derivative investment during the report period.
VIII. 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.
IX. Particulars about illegal external guarantee
□ Applicable √Not applicable
The Company had no illegal external guarantee during the report period.
X. Particulars about non-operating fund of listed company which is occupied by controlling
shareholder and its affiliated enterprises
□ Applicable √ Not applicable
There’s no non-operating fund of listed company occupied by controlling shareholder and its affiliated enterprises during the
report period.
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CSG HOLDING CO., LTD. The First Quarter Report 2020
Section IV Financial Report
I. Financial Statements
1. Consolidated balance sheet
Prepared by CSG Holding Co., Ltd.
Unit: RMB
Item 2020-3-31 2019-12-31
Current asset:
Monetary Fund 3,846,233,991 1,986,980,418
Notes receivable 140,418,023 297,023,380
Accounts receivable 823,778,059 649,681,177
Receivables financing 285,058,513 258,296,826
Prepayments 114,478,403 78,196,027
Other receivables 211,774,103 202,854,864
Inventories 1,211,763,346 812,321,690
Other current assets 155,404,297 447,995,931
Total current assets 6,788,908,735 4,733,350,313
Non-current assets:
Fixed assets 9,068,360,284 9,783,037,301
Construction in progress 2,522,416,100 1,902,140,035
Intangible assets 1,118,306,095 1,044,826,287
Development expenditure 97,761,017 85,240,356
Goodwill 315,097,756 315,097,756
Long-term prepaid expenses 10,973,411 11,351,431
Deferred tax assets 210,292,966 205,792,587
Other non-current assets 115,870,633 120,399,893
Total non-current assets 13,459,078,262 13,467,885,646
Total assets 20,247,986,997 18,201,235,959
Current liabilities:
Short-term loan 2,289,050,367 2,240,969,137
Notes payable 171,724,911 232,063,968
Accounts payable 1,280,281,135 1,100,531,779
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CSG HOLDING CO., LTD. The First Quarter Report 2020
Advance from customers 292,803,811
Contract liability 289,510,630
Payroll pay 163,913,820 337,866,246
Taxes payable 78,552,174 115,425,044
Other payables 378,107,241 351,374,775
Incl.: Interest payable 102,902,279 73,251,086
Dividend payable 2,985,563 2,985,563
Non-current liabilities due within one year 1,544,734,218 1,712,456,928
Other current liabilities 300,000 300,000
Total current liabilities 6,196,174,496 6,383,791,688
Non-current liabilities:
Long term loan 1,471,322,500 1,320,225,000
Bonds payable 1,991,303,521
Long-term payables 70,233,958 87,240,529
Deferred income 507,674,359 513,925,557
Deferred income tax liabilities 32,135,757 30,197,657
Total non-current liabilities 4,072,670,095 1,951,588,743
Total Liabilities 10,268,844,591 8,335,380,431
Owners' equity:
Share capital 3,106,915,005 3,106,915,005
Capital reserve 683,219,358 683,219,358
Less: treasury shares 118,066,397 118,066,397
Other comprehensive income 8,058,407 6,565,864
Special reserves 10,908,497 11,102,921
Surplus reserve 946,251,286 946,251,286
Undistributed profits 4,970,879,129 4,859,600,841
Total owner's equity attributable to the parent
9,608,165,285 9,495,588,878
company
Minority shareholders' equity 370,977,121 370,266,650
Total owner's equity 9,979,142,406 9,865,855,528
Total Liabilities and Owner's Equity 20,247,986,997 18,201,235,959
Legal Representative：Chen LinResponsible person in charge of the accounting: Wang Jian
Principal of the financial department: Wang Wenxin
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CSG HOLDING CO., LTD. The First Quarter Report 2020
2. Balance Sheet of the Parent Company
Unit: RMB
Item Ending balance Beginning balance
Current asset:
Monetary Fund 3,441,903,352 1,560,798,731
Prepayments 1,580,018 1,799,222
Other receivables 3,568,793,050 3,179,500,967
Other current assets 102,916 300,000,000
Total current assets 7,012,379,336 5,042,098,920
Non-current assets:
Long-term receivables 1,200,000,000 1,200,000,000
Long-term equity investment 5,160,865,574 5,079,465,574
Fixed assets 18,235,043 19,550,442
Intangible assets 274,696 370,484
Other non-current assets 12,036,106 1,407,535
Total non-current assets 6,391,411,419 6,300,794,035
Total assets 13,403,790,755 11,342,892,955
Current liabilities:
Short-term loan 1,713,000,000 1,687,000,000
Notes payable 20,000,000 170,000,000
Payables 236,346 236,346
Payroll payable 6,796,262 53,040,982
Taxes payable 150,096 2,901,358
Other payables 1,747,238,244 1,643,156,452
Incl.: Interest payable 58,978,240 41,186,139
Dividend payable 2,985,563 2,985,563
Non-current liabilities due within one year 1,200,000,000 1,200,000,000
Total current liabilities 4,687,420,948 4,756,335,138
Non-current liabilities:
Long term loan 1,300,000,000 1,130,000,000
Bonds payable 1,991,303,521
Deferred income 181,782,265 182,386,537
Total non-current liabilities 3,473,085,786 1,312,386,537
Total Liabilities 8,160,506,734 6,068,721,675
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CSG HOLDING CO., LTD. The First Quarter Report 2020
Owners' equity:
Share capital 3,106,915,005 3,106,915,005
Capital reserve 828,046,672 828,046,672
Less: treasury shares 118,066,397 118,066,397
Surplus reserve 960,796,646 960,796,646
Undistributed profits 465,592,095 496,479,354
Total owner's equity 5,243,284,021 5,274,171,280
Total Liabilities and Owner's Equity 13,403,790,755 11,342,892,955
3. Consolidated Income Statement
Unit: RMB
Item Balance of this period Balance of last period
I. Totaloperating revenue 1,733,965,637 2,222,721,514
Incl. :Business income 1,733,965,637 2,222,721,514
II. Total business cost 1,598,409,180 2,105,465,980
Incl. :Business cost 1,223,133,015 1,710,257,358
Taxes and surcharges 21,811,789 26,974,283
Sales expense 68,190,292 82,460,250
Management costs 154,294,998 123,978,598
Research and development expenses 72,997,585 79,671,948
Financial expenses 57,981,501 82,123,543
Incl. : Interest expense 67,258,381 87,627,795
Interest income 11,556,400 6,719,497
Plus: Other income 20,792,152 47,460,637
Credit impairment loss (“-“ for loss) -3,756,132 -6,824,404
Asset disposal income(“-“ for loss) -494,285 6,877,195
III. Operational profit (“-“ for loss) 152,098,192 164,768,962
Plus: non-operational income 585,906 687,874
Less: non-operationalexpenses 17,217,192 1,424,258
IV. Gross profit (“-“ for loss) 135,466,906 164,032,578
Less: Income tax expenses 23,478,147 28,094,174
V. Net profit (“-“ for net loss) 111,988,759 135,938,404
(I) Classification by business continuity
1. Net profit from continuous operation(“-“ for net 111,988,759 135,938,404
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CSG HOLDING CO., LTD. The First Quarter Report 2020
loss)
2. Discontinued operating net profit(“-“ for net loss)
(II) Classification by ownership
1. Net profit attributable to the owners of parent
111,278,288 132,188,324
company
2. Minor shareholders’ equity 710,471 3,750,080
VI. Net after-tax amount of other comprehensive income 1,492,543 -1,221,913
Net after-tax amount of other comprehensive income
1,492,543 -1,221,913
attributable to the owner of the parent company
Other comprehensive income that will be reclassified
1,492,543 -1,221,913
into profit or loss
Foreign-currency financial statement translation difference 1,492,543 -1,221,913
VII.Total comprehensive income 113,481,302 134,716,491
Total comprehensive income attributable to owners of
112,770,831 130,966,411
the Company
Total comprehensive income attributable to minority
710,471 3,750,080
shareholders
VIII. Earnings per share
(I) Basic earnings per share 0.04 0.04
(II) Diluted earnings per share 0.04 0.04
Legal Representative：Chen LinResponsible 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 19,233,446 20,108,542
Less: Business cost
Taxes and surcharges 20,006 220,610
Sales expense
Management costs 19,879,935 22,307,483
Research and development expenses 4,617 8,833
Financial expenses 29,286,644 31,366,290
Incl. : Interest expense 39,873,739 36,970,255
Interest income 10,724,357 5,862,210
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CSG HOLDING CO., LTD. The First Quarter Report 2020
Plus: Other income 735,596 678,275
Credit impairment loss (“-“ for loss) -123,501 3,481
II. Operational profit (“-“ for loss) -29,345,661 -33,112,918
Plus: non-operational income 76,152
Less: non-operational expenses 1,617,750
III.. Gross profit (“-“ for loss) -30,887,259 -33,112,918
Less: Income tax expenses
IV. Net profit (“-“ for net loss) -30,887,259 -33,112,918
(I) Net profit from continuous operation(“-“ for net
-30,887,259 -33,112,918
loss)
(II) Discontinued operating net profit(“-“ for net loss)
V. Total comprehensive income -30,887,259 -33,112,918
VI. 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
1,783,332,428 2,268,333,166
services
Refunds of taxes 1,032,626 1,825,553
Received other cash related to business activities 34,722,910 26,891,640
Subtotal of cash inflow from operating activities 1,819,087,964 2,297,050,359
Cash paid for the purchase of goods and services 1,145,407,582 1,445,370,845
Cash paid to and for employees 424,877,941 418,315,107
Payments of all types of taxes 133,051,857 138,793,875
Payment of other cash related to business activities 126,877,352 158,253,170
Subtotal of cash outflow from operating activities 1,830,214,732 2,160,732,997
Net cash flow from operating activities -11,126,768 136,317,362
II. Cash flows from investing activities:
Net cash recovered from disposal of fixed assets,
520,508 334,400
intangible assets and other long-term assets
Other cash received relating to investing activities 321,068,423 209,085
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CSG HOLDING CO., LTD. The First Quarter Report 2020
Subtotal of cash inflows from investment activities 321,588,931 543,485
Cash paid for the purchase and construction of fixed
246,551,903 127,234,513
assets, intangible assets and other long-term assets
Other cash paid relating to investing activities 15,432,851 606,824
Subtotal of cash outflows from investment activities 261,984,754 127,841,337
Net cash flows from investing activities 59,604,177 -127,297,852
III.Cash flow from financing activities:
Cash received from the loan 1,114,359,186 835,500,000
Cash received from the issuance of bonds 2,000,000,000
Other financing-related cash received 904,849 500,000,000
Subtotal of cash inflows from financing activities 3,115,264,035 1,335,500,000
Cash paid for debt repayment 917,657,084 930,211,970
Cash paid for dividends, profits or interest payments 40,226,280 62,397,350
Payment of other cash related to financing activities 197,505,852 359,331,565
Subtotal of cash outflows from financing activities 1,155,389,216 1,351,940,885
Net cash flow from financing activities 1,959,874,819 -16,440,885
IV. Influence of exchange rate alternation on cash and cash
759,216 -1,620,779
equivalents
V.Net increase in cash and cash equivalents 2,009,111,444 -9,042,154
Plus: Balance of cash and cash equivalents at the
1,831,835,030 2,225,126,913
beginning of term
VI. Balance of cash and cash equivalents at the end of term 3,840,946,474 2,216,084,759
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 18,321
Received other cash related to business activities 17,504,825 12,431,042
Subtotal of cash inflow from operating activities 17,523,146 12,431,042
Cash paid for the purchase of goods and services
Cash paid to and for employees 65,197,531 51,404,986
Payments of all types of taxes 6,802,435 1,047,643
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CSG HOLDING CO., LTD. The First Quarter Report 2020
Payment of other cash related to business activities 5,566,108 8,308,180
Subtotal of cash outflow from operating activities 77,566,074 60,760,809
Net cash flow from operating activities -60,042,928 -48,329,767
II. Cash flows from investing activities:
Other cash received relating to investing activities 300,000,000
Subtotal of cash inflows from investment activities 300,000,000
Cash paid for the purchase and construction of fixed
9,586,096 1,522,855
assets, intangible assets and other long-term assets
Cash for investment payments 81,400,000
Subtotal of cash outflows from investment activities 90,986,096 1,522,855
Net cash flows from investing activities 209,013,904 -1,522,855
III. Cash flow from financing activities:
Cash received from the loan 827,549,801 700,000,000
Cash received from the issuance of bonds 2,000,000,000
Other financing-related cash received
Subtotal of cash inflows from financing activities 2,827,549,801 700,000,000
Cash paid for debt repayment 631,999,801 650,000,000
Cash paid for dividends, profits or interest payments 22,458,117 22,874,958
Payment of other cash related to financing activities 290,614,929 670,685,645
Subtotal of cash outflows from financing activities 945,072,847 1,343,560,603
Net cash flow from financing activities 1,882,476,954 -643,560,603
IV. Influence of exchange rate alternation on cash and cash
14,917 -17,160
equivalents
V. Net increase in cash and cash equivalents 2,031,462,847 -693,430,385
Plus: Balance of cash and cash equivalents at the
1,407,215,863 1,699,514,334
beginning of term
VI. Balance of cash and cash equivalents at the end of term 3,438,678,710 1,006,083,949
II. Note to the Adjustment of Financial Statements
Since 2020, adjustment of the relevant financial statements at current year beginning according to new
standards for the new standards for revenues and the new standards for lease initially implemented
√Applicable □Not applicable
Item 2019-12-31 2020-01-01 adjust data
Advance from customers 292,803,811 -292,803,811
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CSG HOLDING CO., LTD. The First Quarter Report 2020
Contract liability 292,803,811 292,803,811
Note: the finance ministry issued Accounting Standard For Business Enterprises no. 14 - revenue in July 2017. In accordance with
the relevant provisions, enterprises that are listed both in domestic and abroad and enterprises that are listed abroad and prepare
financial statements by adopting international financial reporting standards or accounting standards for business enterprises shall
come into force as of January 1, 2018; Other domestic listed enterprises shall take effect as of January 1, 2020.
In accordance with the above provisions, the company shall implement the newly issued revenue criterion from January 1, 2020, and
the payment for the original advance sales contract shall be reported in the "Advance fromcustomers", and the payment shall be
reported in the "contract liability" from January 1, 2020.
2. Since 2020, note to the retroactive adjustment of the previous comparative data according to the new
standards for revenues and the new standards for lease initially implemented
□ Applicable √Not applicable
III. 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 2020
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