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南 玻B:2022年半年度报告(英文版)2022-08-31  

                             CSG HOLDING CO., LTD.



SEMI-ANNUAL REPORT 2022




      Chairman of the Board:

         CHEN LIN


          August 2022
                                                                              CSG Semi-annual Report 2022




             Section I. Important Notice, Content and Paraphrase

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.

Ms. Chen Lin, person in charge of the Company, Ms. Wang Wenxin, responsible person in charge of
accounting and Ms. Wang Wenxin, principal of the financial department (accounting officer)
confirm that the Financial Report enclosed in the semi-annual report of the Company is true,
accurate and complete.

All directors were present at the meeting of the Board for deliberating the semi-annual report of the
Company in person.

The future plans, development strategies and other forward-looking statements mentioned in this
report do not constitute a material commitment of the Company to investors. Investors and relevant
parties should pay attention to investment risks, and understand the differences between plans,
forecasts and commitments.

The Company has described the risk factors and countermeasures of the Company's future
development in detail in this report. Please refer to Section III. Management Discussion and
Analysis

The Company has no plans of cash dividend distribution, bonus shares being sent or converting
capital reserve into share capital.

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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                                                       Content


Section I. Important Notice, Content and Paraphrase.................................................... 1

Section II. Company Profile & Financial Highlights..................................................... 5

Section III. Business Discussion and Analysis...............................................................8

Section IV. Corporate Governance............................................................................... 33

Section V. Environment and social responsibility........................................................ 35

Section VI. Important Events........................................................................................43

Section VII. Changes in Shares and Particulars about Shareholders...........................59

Section VIII. Preferred shares.......................................................................................65

Section IX. Bonds......................................................................................................... 66

Section X. Financial Report..........................................................................................69




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                         Documents available for Reference
.

I. Text of the financial report carrying the signatures and seals of the person in charge of the
Company, the responsible person in charge of accounting and the principal of the financial
department (accounting officer).

II. All texts of the Company’s documents and original public notices disclosed in the papers
appointed by CSRC in the report period.




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                                               Paraphrase


                         Item                  Refers to                                    Content

Company, the Company, CSG Group or the Group   Refers to       CSG Holding Co., Ltd.

Foresea Life                                   Refers to       Foresea Life Insurance Co., Ltd.

Flat glass                                     Refers to       Including float glass, photovoltaic glass

Ultra-thin electronic glass                    Refers to       The electronic glass with thickness between 0.1~1.1mm

Second-generation energy-saving glass          Refers to       Double silver coated glass

Third-generation energy-saving glass           Refers to       Triple silver coated glass

AG glass                                       Refers to       Anti-glare glass

AF glass                                       Refers to       Anti-fingerprint glass

AR glass                                       Refers to       Anti-reflection glass




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                   Section II. Company Profile & Financial Highlights

I. Company Profile

Short form of the stock                        Southern Glass A、Southern Glass B          Stock code      000012、200012

Listing stock exchange                         Shenzhen Stock Exchange

Legal Chinese name of the Company              中国南玻集团股份有限公司

Abbr. of legal Chinese name of the Company 南玻集团

Legal English name of the Company              CSG Holding Co., Ltd.

Abbr. of legal English name of the Company CSG

Legal Representative                           Chen Lin


II. Person/Way to contact

                                                          Secretary of the Board              Representative of securities affairs
                                               Wang Wenxin (perform as Secretary of
Name                                                                                Chen Chunyan
                                               the Board)
                                               CSG Building, No.1 of the 6th Industrial CSG Building, No.1 of the 6th Industrial
Contact address
                                               Road, Shekou, Shenzhen, P. R.C.             Road, Shekou, Shenzhen, P. R.C.

Tel.                                           (86)755-26860666                            (86)755-26860666

Fax.                                           (86)755-26860685                            (86)755-26860685

E-mail                                         securities@csgholding.com                   securities@csgholding.com


III. Other information

1. Way of contact

Whether registered address, office address and their postal codes, website address and email address of the Company changed in the
report period or not
□ Applicable     √Not applicable
The registered address, office address and their postal codes, website address and email address of the Company did not change in
the report period. More details can be found in Annual Report 2021.


2. Information disclosure and preparation place

Whether information disclosure and preparation place changed in the report period or not
□Applicable      √ Not applicable
The newspapers designated by the Company for information disclosure, the website designated by CSRC for disclosing semi-annual
report and preparation place of semi-annual report did not change in the report period. More details can be found in Annual Report

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2021.


3. Other relevant information

Whether other relevant information changed in the report period or not
□Applicable       √ Not applicable


IV. Main accounting data and financial indexes

Whether it has retroactive adjustment or re-statement on previous accounting data

□Yes     √No

                                              The report period (Jan. to                                         Increase/decrease
                                                                             The same period of last year
                                                     Jun.2022)                                                      year-on-year

Operating income (RMB)                                    6,519,216,676                   6,614,802,538                            -1.45%
Net profit attributable to shareholders of
                                                          1,001,174,398                   1,352,517,465                          -25.98%
the listed company (RMB)
Net profit attributable to shareholders of
the listed company after deducting                          887,594,820                   1,329,814,528                          -33.25%
non-recurring gains and losses (RMB)
Net cash flow arising from operating
                                                            902,803,121                   1,698,245,375                          -46.84%
activities (RMB)
Basic earnings per share (RMB/Share)                                  0.33                            0.44                           -25%
Diluted earnings per share (RMB/Share)                                0.33                            0.44                           -25%
Weighted average ROE                                              8.61%                          12.60%                            -3.99%

                                                                                                              Increase/decrease in this
                                                 End of this period                End of last year          period-end over that of last
                                                                                                                      year-end

Total assets (RMB)                                       22,471,177,776                  19,939,364,510                            12.70%

Net assets attributable to shareholders of
                                                         11,817,420,869                  11,429,661,046                            3.39%
the listed company (RMB)


V. Difference of accounting data under domestic and overseas accounting standards

1. Differences of the net profit and net assets disclosed in financial report prepared under international and
Chinese accounting standards

□ Applicable √ Not applicable
No such differences in the report period.




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2. Difference of the net profit and net assets disclosed in financial report prepared under overseas and
Chinese accounting standards

□ Applicable √ Not applicable
No such differences in the report period.


VI. Items and amounts of non-recurring gains and losses

√Applicable□Not applicable
                                                                                                                             Unit: RMB

                                           Item                                                  Amount                    Note

Gains/losses from the disposal of non-current asset (including the write-off that
                                                                                                          12,745,461
accrued for impairment of assets)

Governmental subsidy reckoned into current gains/losses (not including the subsidy
enjoyed in quota or ration according to national standards, which are closely                             97,547,070
relevant to enterprise’s business)

In addition to the effective hedging business related to the normal business of the
company, the profit and loss from changes in fair value arising from holding
trading financial assets and trading financial liabilities, as well as the investment                     16,413,695
income obtained from the disposal of trading financial assets, trading financial
liabilities and available for sale financial assets

Reversal of provision for impairment of receivables that have been individually
                                                                                                           1,409,310
tested for impairment

Other non-operating income and expenditure except for the aforementioned items                            11,472,908

Less: Impact on income tax                                                                                23,294,919

     Impact on minority shareholders’ equity (post-tax)                                                   2,713,947

Total                                                                                                113,579,578            --

Particulars about other gains and losses that meet the definition of non-recurring gains and losses:
□ Applicable    √ Not applicable
It did not exist that other profit and loss items met the definition of non-recurring gains and losses.


Explanation of the non-recurring gains and losses listed in the Explanatory Announcement No.1 on Information Disclosure for
Companies Offering their Securities to the Public - Non-recurring Gains and Losses as recurring gains and losses
□ Applicable    √ Not applicable
It did not exist that non-recurring profit and loss items listed in the Explanatory Announcement No. 1 on Information Disclosure of
Companies Offering Securities to the Public - Non-recurring Profit and Loss were defined as recurring profit and loss items in the
report period.




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                         Section III. Business Discussion and Analysis

I. Main business of the company during the report period

(I)Main business of the Company

CSG is a leading domestic brand of energy-saving glass and a renowned brand of solar PV products and display devices. Its products
and technologies are well-known at home and abroad. Its main business includes R&D, manufacturing and sales of high-quality float
glass, architectural glass, photovoltaic glass, new materials and information display products such as ultra-thin electronic glass and
display devices, as well as renewable energy products such as silicon materials, photovoltaic cells and modules, and it provides
one-stop services for photovoltaic power station project development, construction, operation and maintenance, etc.
Flat glass business
The flat glass business of CSG includes float glass and photovoltaic glass. The production mode, business strategy, technical
requirements and development direction of the two businesses have similarities and considerable differences due to the difference of
industrial chain environment, industry development stage and policy environment.
In the field of float glass, CSG has 10 advanced float glass production lines in Dongguan, Chengdu, Langfang, Wujiang and
Xianning, and has quartz sand raw material processing and production bases in Jiangyou, Sichuan Province, Qingyuan, Guangdong
Province and Fengyang, Anhui Province. The annual output of various types of high-grade float glass is about 2.47 million tons,
covering high-quality float glass and ultra-white float glass with various thicknesses and specifications of 1.3-25mm. The
performance indicators of the products have reached the leading domestic level. CSG float glass products are all high-end products
that can be directly used for downstream deep processing, and the proportion of differentiated glass products with special
specifications and special application scenarios such as ultra-white, ultra-thin, and ultra-thick is large, which are widely used in
high-end building curtain walls, decoration and furniture, mirrors, car windshields, scanners and copiers, home appliance panels,
display protection and other application fields with high requirements on glass quality. CSG has established long-term and stable
business cooperation with many well-known processing enterprises.
The profit level of the float glass business is generally positively correlated with the level of real estate completion data, and is also
affected by multiple factors such as current energy, raw material prices, product structure, and enterprise management level.
Differentiated glass products have higher added value due to specific application scenarios, higher production process difficulties,
stable demand, and relatively proactive pricing by manufacturers. The Company focuses on improving management efficiency,
improving the level of lean production of conventional products, firmly implementing the differentiated competition strategy,
carefully cultivating and developing differentiated product markets, and continuously increasing the proportion of differentiated
product sales, so as to continuously consolidate and enhance the industry competitiveness of the Company's float glass business.
In the first half of 2022, the completion of the real estate industry dropped significantly compared with the same period in recent
years, the domestic downstream architectural glass market demand slowed down in stages, the production and sales rate of float glass
manufacturers declined, and the price of float glass declined; at the same time, affected by epidemic control, Russia Ukraine conflict,
inflation and other factors, the prices of raw materials and fuels have rose sharply, and the profit level of float glass dropped
significantly compared with the previous year. However, under the macro background of "Stable Growth" of the national economy
and the realization of "Double Carbon" goals, the demand for high-quality differentiated products and energy-saving products
remains stable.
In the field of photovoltaic glass, CSG has taken the lead in entering the field of photovoltaic glass manufacturing in China since
2005. Based on independent research and development, the Company has formed a full closed-loop production capacity from
photovoltaic glass original sheet production to deep processing. It has two photovoltaic rolled glass original sheet production lines
and complementary photovoltaic glass deep processing production lines in Dongguan and Wujiang, with an annual output of about

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430,000 tons of photovoltaic rolled glass original sheets and a photovoltaic glass deep processing capacity of 72 million square
meters per year, and its products cover deep-processing products with a variety of thicknesses of 2-4mm. In the first quarter of 2022,
Dongguan photovoltaic glass furnace was upgraded as planned, and was ignited in August 2022.
The Company is firmly optimistic about the long-term development of the photovoltaic new energy industry, seizes the golden
opportunity of industrial development, aims at the first echelon of the industry, and makes up for the shortcomings of the Group's
photovoltaic glass business production capacity and large-scale layout. The Company is building four photovoltaic glass production
kilns and complementary processing lines with a daily melting capacity of 1,200 tons in Fengyang and one photovoltaic glass
production line and complementary processing line with a daily melting capacity of 1,200 tons in Xianning. Among them, Fengyang
No. 1 kiln has been ignited in May 2022, and Fengyang No. 2 kiln has been ignited in August 2022, and the construction of other
production lines is progressing in an orderly manner as planned.The release of production capacity will greatly enhance the
Company's industry status. In addition, with the approval of the Board of Directors, the Company plans to build two photovoltaic
glass production kilns and complementary processing lines with a daily melting capacity of 1,200 tons in Beihai City, Guangxi
Province. Currently, the preparatory work for the project is being carried out in an orderly manner. At the same time, the Company is
still actively seeking to further expand the production capacity of photovoltaic glass in other regions with resource support and
industrial chain support. Under the background of carbon peaking and carbon neutrality, the photovoltaic glass business will become
the new champion business of CSG.
In 2022, with the promotion of domestic distributed photovoltaics, large-scale wind power photovoltaic bases and photovoltaic
guaranteed grid-connected policies, as well as the promotion of carbon neutrality plans disclosed by countries around the world, the
global installed capacity will maintain a relatively high growth rate. According to the statistics of China Photovoltaic Industry
Association, from January to June 2022, the domestic module output was 123.6GW, a year-on-year increase of 54.1%, the domestic
photovoltaic power generation installed capacity was 30.88GW, a year-on-year increase of 137.4%; the export volume of
photovoltaic modules was 78.6GW, a year-on-year increase of 74.3%. From the analysis of the current policy environment and
market development trend, photovoltaic power generation has a broad space for development in the future, and the development of
the global market may accelerate. Although the concentrated release of new capacity of photovoltaic glass in recent years may lead to
a phased mismatch of supply and demand in the market and cause market price fluctuations, with the rapid development of the global
market and the optimization and adjustment of the domestic industrial structure, the industry will still return to the track of healthy
development. In 2022, the Company will spare no effort to promote the project construction, speed up the technological
transformation and upgrading of the production line, focus on improving the production capacity of 1.6-2 mm ultra-thin photovoltaic
glass and photovoltaic glazed back plate glass for double glass modules, follow the product planning and route adjustment of module
technology development, consolidate the competitive advantage of the Company in the field of ultra-thin photovoltaic glass,
strengthen the long-term strategic cooperation with industry-leading enterprises, and further enhance the market competitiveness of
CSG's photovoltaic glass.

Architectural glass business
CSG is one of the largest suppliers of high-grade engineering and architectural glass in China and it has formed quality, service and
continuous research and development capabilities that match the brand. The Company has built six energy-saving glass processing
bases in Tianjin, Dongguan, Xianning, Wujiang, Chengdu and Zhaoqing. Up to now, the Company has formed an annual production
capacity of over 20 million square meters for coated insulating glass and over 45 million square meters for coated glass. In order to
seize the key opportunities for the development of building energy-saving glass and satisfy the people's pursuit of a better life, CSG
leverages its brand advantages to take the lead in improving the business layout of architectural glass. At present, the production
capacity of Zhaoqing Base and Tianjin Expansion Project is gradually being released, which further strengthens the ability of CSG's
architectural glass to meet the needs of the construction of world-class mega-city clusters in the Beijing-Tianjin-Hebei, Yangtze River
Delta, and Guangdong-Hong Kong-Macao Greater Bay Area. At the same time, in line with the trend of urban construction extending
further inland, the Group's Board of Directors approved the construction of Xi'an Architectural Glass Base, Hefei Energy-saving
Glass Intelligent Manufacturing Industry Base and Xianning Architectural Production Line Reconstruction and Expansion Project in


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2021. Based on the local market conditions, the Company will arrange first-level or second-level architectural glass processing bases
that are suitable for their scale and needs, and continuously improve and strengthen the market competition and service capabilities of
CSG’s architectural glass business. At present, Wujiang Architectural Glass Smart Factory and Xianning Architectural Production
Line Reconstruction and Expansion Projects are being implemented as planned, and are expected to be basically completed within
2022. Construction of the Xi'an Base and Hefei Base Projects has started in the first half of 2022 and is expected to be completed in
2023. As the new projects are gradually completed and put into operation, the production capacity of CSG architectural glass will be
gradually released, and the market share of the products will be further increased.
CSG's architectural glass business adheres to the customized business strategy of trinity of technical service, marketing, R&D and
manufacturing, relying on its own manufacturing and R&D strength, as well as the marketing and service network formed domestic
and overseas offices, to meet the personalized needs of domestic and foreign customers and construction projects. In 2017, CSG's
low-E coated glass was awarded the title of Single Champion Product by the Ministry of Industry and Information Technology, and it
passed the review again in 2020, which fully proves the leading position of CSG's architectural glass in the industry. The Company
has the world's leading glass deep processing equipment and testing equipment, and its products cover all kinds of architectural and
construction glass. The R&D and application level of the Company's coating technology keeps pace with the world, and the high-end
product technology is internationally leading. The shading and heat insulation performance of the product is further improved, and
the energy-saving contribution has been further enhanced. All deep processing bases of the Company have the production and
processing capabilities of triple-silver high-performance energy-saving glass. Under the background of the "Double Carbon" goal and
the national green and energy-saving building requirements, the market demand for triple-silver has further expanded. After years of
market testing and relying on the Company's advanced coating technology, its high performance and stability have been well
received by the market, CSG’s triple-silver products have become the benchmark in the domestic three-silver product market, and
high-quality energy-saving and environmentally friendly LOW-E insulating glass continues to lead the domestic high-end market
share. The Company has always adhered to the intelligent transformation and digital transformation as the key increment of the
development of architectural glass business. It has continuously invested and accumulated rich experience in the research of
production automation, intellectualization, information technology and equipment, and the efficiency improvement of intelligent
upgrading and transformation of traditional equipment. With technological progress and process optimization, the Company has
reduced production manpower consumption, material consumption and energy consumption, actively promoting the Company's
transformation and upgrading to achieve intensive manufacturing and high-quality development.
The Company’s quality management system for engineering and architectural glass has been respectively approved by organizations
of UK AOQC and Australia QAS. The product quality which meets the national standards of the US, the UK and Australia enables
CSG has an advantage in the international tendering and bidding. Since 1988, CSG's engineers and technicians have been
continuously participating in the formulation and compilation of various national standards and industry standards. All kinds of
high-quality engineering architectural glass provided by the Company are widely used in landmark buildings such as major city
CBDs and transportation hubs at home and abroad, which are too numerous to mention. The 2022 Beijing Winter Olympics, which
attracted worldwide attention, accomplished successfully. The keynote of this Winter Olympics is "Green Winter Olympics". CSG’s
Glass is honored to be selected for the construction of quite a few related venues for the Beijing Winter Olympics with its safety,
energy saving and high-end quality, including National Speed Skating Hall, National Ski Jumping Center, Shougang Ski Jumping
Platform, Beijing Olympic Village and many other representative projects. CSG’s products are once again stunningly displayed in
front of the world, with the projects using CSG’s products appeared frequently in the past, such as Capital International Airport,
Daxing International Airport, National Convention Center, as well as the projects in Capital CBD Area, which contributed a unique
and beautiful landscape to the wonderful and extraordinary Olympic Games.


Electronic glass and display business
Electronic glass
After more than ten years of hard work, CSG electronic glass has always focused on increasing investment in research and

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development, breaking through high-end market barriers with independent intellectual property rights and independent innovation,
and firmly following the development route of product upgrades and iterations to accelerate import substitution. Electronic glass has
become another CSG brand. At the same time, the ultra-thin electronic glass is also recognized by the Ministry of Industry and
Information Technology of the People's Republic of China as the "Individual Champion Product of Manufacturing Industry". In the
first half of 2022, the Company's electronic glass business continues to develop. Its four subsidiaries, Hebei Panel, Yichang
Photoelectric, Qingyuan New Energy-Saving Materials and Xianning Photoelectric continued to actively implement product
upgrading and market upgrading in the application fields of intelligent electronic terminals, touch components, vehicle mounted
display, auto glass, industrial control and commercial display, safe-guard facility and smart home, so that the market share and brand
influence of the Company's medium-alumina and high-alumina electronic glass products could improve greatly. Rich product
structure, reliable delivery guarantee and strong technical innovation help the Company’s electronic glass business maintain its
dominant position in the fierce market competition.
In March 2021, in order to strengthen the Company's high-end market competitiveness in the field of ultra-thin electronic glass for
touch applications, the Company's Board of Directors approved Hebei Panel to invest in a new ultra-thin electronic glass production
line and complementary R&D center with a daily melting capacity of 110 tons. It is expected to be completed and put into operation
in the second half of 2022. In December 2021, the Company's Board of Directors approved the upgrade and renovation project of
Qingyuan CSG Phase I. At present, the project is still under construction. When the new project is completed and put into operation,
CSG electronic glass will fully cover the field of electronic glass products in high, medium and low-end application scenarios,
forming a more solid market competition foundation. CSG has long been committed to becoming the industry's leading electronic
glass material solution provider, and it will continue to develop glass-based protective materials with higher strength and
competitiveness in the field of touch display, develop human-computer interaction interface materials meeting the requirements of
material interconnection in the fields of smart home, vehicle display and advanced medical, and develop revolutionary alternative
materials in the fields of new-energy vehicles and security.


Display
In the field of touch display, CSG has mastered the three industry-leading technologies of vacuum magnetron sputtering coating, 3A
(Ag + Ar + AF) product processing, and yellow light fine pattern forming, and has a complete industrial chain. The main business
includes ITO conductive glass, ITO conductive film, high-grade Ag glass, vehicle mounted TP sensor and vehicle mounted
multi-functional cover plate. In the traditional advantageous business of ITO conductive glass and ITO conductive film, in the first
half of 2022, the company actively responded to the adverse impact of the external environment and the pressure of industry
competition through internal deep exploration of potential and research and development of high value-added differentiated product
strategies in new application fields, and the overall production and sales volume remained stable. In the field of high-end Ag glass
business, in the first half of 2022, the performance indicators of the Company's products were leading in the industry, and the
production and sales volume reached a record high. It is mass-produced and supplied to internationally famous customers, mainly
used in high-end vehicle display screens. In the two major business areas of vehicle mounted multi-functional 3A cover plate and
vehicle mounted TP sensor, the Company has indirectly supplied to domestic and foreign well-known automobile brand terminal
manufacturers through downstream customers. It is expected that in the second half of 2022, the production and sales volume will
increase, becoming a new growth point of the Company.


Solar energy and other industries
CSG is one of enterprises which firstly enter the field of photovoltaic product manufacturing in China.After more than ten years of
construction, operation and technological transformation and upgrading, CSG has created a complete industrial chain covering the
operation of high-purity crystalline silicon materials, silicon wafers, cells, modules and photovoltaic power stations. The business
structure of the entire industry chain enables the Company to have a certain ability to resist risks, be sensitive to the industry, and be
able to identify and respond quickly to market changes in the industry. After years of technical accumulation, CSG's photovoltaic

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sector has built three national-level scientific research and technology platforms (the National Development and Reform Commission
recognized the "National and Local Joint Engineering Laboratory for Semiconductor Silicon Material Preparation Technology",
"National Enterprise Technology Center" and "CNAS Accredited Laboratory". "), seven provincial scientific research and technology
platforms ("Semiconductor Silicon Material Preparation Technology Hubei Engineering Laboratory" and "Hubei Enterprise
Technology Center"; the Provincial Department of Science and Technology recognized "Hubei Silicon Material Engineering
Technology Research Center", "Hubei Province Silicon Material Engineering Technology Research Center" Semiconductor Silicon
Material Technology International Cooperation Base", "Hubei Silicon Material Enterprise-School Joint Innovation Center",
"Guangdong Solar Photovoltaic Cell and Component Engineering Technology Research Center", "Guangdong Enterprise Technology
Center"), won 7 national and local science and technology progress awards, 143 patents, including 53 inventions, 21 scientific and
technological achievements, and led or participated in the formulation of 23 industrial standards.
In 2022, the global terminal installation demand exceeded expectations, while the upstream high-purity crystalline silicon material
production capacity was limited, and the severe reality of insufficient supply ran through the first half of 2022. Yichang CSG silicon
materials Co., Ltd., a subsidiary of the solar energy business department of CSG, fully implemented the strategic decisions and
deployment of the Group's management, unswervingly implemented the technical transformation and resumption of high-purity
crystalline silicon production lines and the transformation and upgrading of silicon wafer business, and achieved good economic
benefits. At present, the solar energy industry relies on years of technical precipitation and first-class industrial talent team. Yichang
production base has a high-purity crystalline silicon production capacity of 10,000 tons/year, silicon wafers 2.2GW/year, and ingot
purification of monocrystalline materials 7200 tons/year; Dongguan production base has a production capacity of 0.6GW/year for
cells and 0.6GW/year for modules; Shenzhen Photovoltaic owns 139MW of photovoltaic power plants. As a public listed company
with extensive social influence and sense of social responsibility, CSG has always adhered to the concepts of energy conservation,
environmental protection and people-oriented, and contributed to the construction of an environment-friendly, resource-saving and
sustainable human future.



(II)Overview of operation during the report period

In recent years, CSG Group has made a forward-looking layout, firmly promoted the adjustment of business structure during
development, strengthened the competitive advantage of traditional energy-saving building materials, and accelerated the
development of new energy and new material industry sectors. In the first half of 2022, the Company achieved operating income of
RMB 6.519 billion, a year-on-year decrease of 1.45%; net profit of RMB 1.009 billion, a year-on-year decrease of 26.33%; net profit
attributable to shareholders of the listed company was RMB 1.001 billion, a year-on-year decrease of 25.98%.

Glass business segment:

Float glass: in the first half of 2022, the domestic downstream architectural glass market demand slowed down in stages, and the
price of float glass fell. At the same time, due to factors such as rising raw and fuel prices, the production cost was increased, and the
profitability of float glass fell. In the face of the severe external environment, the company firmly follows the high-end differentiated
product line: expanding the production capacity of ultra-clear glass, further increasing the production and sales, creating a series of
high-end brands of CSG ultra-clear "Blue Diamond", and becoming a leader in the industry segment; The proportion of high
value-added differentiated products continued to increase, maintaining a leading position in the market segment of high-grade float
glass. Coordinating and organizing the procurement of strategic reserves of bulk raw materials to effectively hedge the pressure of
rising procurement costs; establishing a mineral resources management center to coordinate the implementation of the strategic task
of expanding mineral resources reserves; strengthening the lean control of the entire production process, and continue to reduce costs
and increase efficiency. In the first half of 2022, the revenue of the float glass business decreased by 20.66% compared with the same
period of the previous year, and the net profit decreased by 64.34%.
Photovoltaic glass: continue to maintain the industry-leading production capacity, quality and comprehensive manufacturing yield of
ultra-thin photovoltaic glass products below 2mm. In the first half of 2022, the global photovoltaic market was generally good. The

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growth of domestic and overseas demand for photovoltaic modules formed an incremental demand for photovoltaic glass, and the
price of photovoltaic glass rose to a certain extent. However, due to the centralized investment of new capacity, there were signs of
supply and demand mismatch in the short term. The Company is firmly optimistic about the long-term development of the
photovoltaic new energy industry, accelerating the construction of new photovoltaic glass projects in Fengyang and Xianning, and at
the same time, stepping up the upgrading and transformation of existing production lines to better meet the needs of customers and
future market competition. The expansion of photovoltaic glass production capacity will greatly enhance the market competitiveness
of the Company's photovoltaic glass. In order to adapt to changes in business scale, the Company has established a photovoltaic glass
marketing center to coordinate the Group's photovoltaic glass marketing business and effectively improve the Company's
management efficiency. In the first half of 2022, due to the upgrading and transformation of the photovoltaic glass production line of
Dongguan Company, the business income and profit level of the photovoltaic glass segment decreased compared with the same
period of the previous year, of which the income decreased by 43.66% and the net profit decreased by 101.18%.
Architectural glass: is the golden brand of CSG, and it has formed quality, service and continuous R&D capabilities that match the
brand. Focusing on the Country's improvement of building energy-saving standards and high-rise building safety standards, it
strengthens brand building and adheres to the customized business strategy of trinity of technical service, marketing and R&D and
manufacturing, to meet the personalized needs of domestic and foreign customers and construction projects. The market share in the
domestic high-end construction market continues to rise, and the market scale and profitability in the field of deep processing in the
same industry maintain a leading position. Affected by the spread of the domestic epidemic in the first half of 2022, the pressure on
sales and delivery increased year-on-year, and the pressure on domestic real estate companies to collect financing increased. In order
to reduce operational risks, the Company gradually increased risk management and control requirements, and the year-on-year
increase in operating income was limited. However, by refining the market layout, the Company continued to increase the signing of
high-quality projects, the order compounding degree and the proportion of triple-silver products increased significantly year-on-year,
while increasing the proportion of high-quality small and medium-sized orders such as short-flat-fast orders, etc., and increased
cooperation in livelihood security projects. Continue to "Reduce Costs and Increase Efficiency" and refine operations, relying on the
advantages of the Group's industrial chain, operating profit maintains a steady growth trend. Focusing on the future, the Company
seizes the historic opportunity of speeding up green building construction, accelerates the construction of new bases, improves the
automation and informatization level of production lines, continuously improves equipment production efficiency, and takes the lead
in future industry competition. At present, the production capacity of Zhaoqing Base and Tianjin Expansion Project is gradually
being released; Wujiang Architectural Glass Intelligent Factory and Xianning Architectural Production Line Reconstruction and
Expansion Project are being implemented as planned and are expected to be basically completed in 2022. The construction of Hefei
energy-saving glass intelligent manufacturing industry base and Xi'an base has been started and is expected to be put into use in 2023.
With the gradual completion and launch of new production capacity, the product service capability and market share will continue to
increase, and the golden signboard of CSG architectural glass will become brighter and brighter. In the first half of 2022, the business
revenue of the engineering glass segment increased by 1.11% compared with the same period of the previous year, and the net profit
increased by 216.17%.

Electronic glass and display business segment

Focusing on increasing investment in research and development, breaking through high-end market barriers with independent
intellectual property rights and independent innovation, and firmly following the development route of product upgrades and
iterations to accelerate import substitution, electronic glass has become another champion business of CSG. In the first half of 2022,
the Company's high aluminum second generation (KK6-P) lithium aluminosilicate electronic glass products continued to expand the
market of new customers, and successfully equipped OLED screens to achieve a breakthrough in high-end screen applications,
marking that CSG's electronic glass business has firmly established the supply chain system of domestic high-end customers. At the
same time, the Company continued to promote product technology upgrading, developed new products for window glass of new
energy vehicles, and successfully passed customer certification. It is expected to achieve mass production and shipment in the second
half of 2022. The future market is worth looking forward to. The Company continued to strengthen the research and development of

                                                                  13
                                                                                                      CSG Semi-annual Report 2022


the third generation of high-aluminum, and achieved good results in end-customer verification. In addition, Qingyuan CSG Phase II
"One Kiln and Two Lines" project, which was transferred to commercial operation at the end of 2020, is operating well, enhancing
the overall profitability of electronic glass, and further consolidating and strengthening CSG's competitive advantage in the domestic
electronic glass field. In the first half of 2022, due to the impact of the "Epidemic" and the general economic environment, the
terminal market demand shrank, resulting in a decline in the performance of the Company's electric display segment. In the first half
of 2022, the Electric Display segment achieved a revenue of RMB 810 million, a year-on-year decrease of 8.06%, and a net profit of
RMB 112 million, a year-on-year decrease of 50.15%.

Solar and other business segments

The macro background of the global consensus on "Green Development" and the timetable of the domestic double-carbon target
jointly promote the photovoltaic industry to enter a new high-speed development period after comprehensively ushering in the
affordable Internet access. On the basis of objective analysis of its own industrial advantages and disadvantages, overall
consideration of the market environment, industrial development trend and the Group's overall industrial development plan, the
Company plans to implement the project of 50,000 ton high-purity crystalline silicon in Haixi Prefecture, Qinghai Province, to
further expand the solar energy business and enhance the Group's overall competitiveness. At present, the Company's high-purity
crystalline silicon adopts two paths of strategic cooperation with downstream cooperators in the industry chain, signing long-term
orders and flexible sales to reduce operating risks and ensure stable and sustainable business development. Continuously optimizing
the process in production to continuously reduce cost and increase efficiency. For example, the differential pressure coupling
technology of four distillation columns reduces the unit consumption of steam by more than 20%; the process improvement and
control technology optimization of the comprehensive utilization of materials have increased the chlorosilane recovery rate by more
than 38%, and greatly reduced the alkali consumption and waste residue discharge. After the resumption of production, with a
combination of technical measures and production management upgrades, the production capacity broke a record high, of which the
third level of national standard electronics accounted for nearly 95%, while the silicon unit consumption, comprehensive electricity
unit consumption, and steam unit consumption all hit record lows. After the resumption of production, high-purity crystalline silicon
quickly entered the first-tier manufacturers in the industry, such as Trina, Jinko, Canadian Solar, Gaojing, and Shuangliang
ECO-Energy, relying on product quality and market reputation. The electronic grade high-purity crystalline silicon compact material
has met the requirements of N-type battery customers, and the market competitiveness is prominent, which brings great confidence to
the construction of the project of Qinghai 50,000-ton high-purity crystalline silicon. At present, the project of Qinghai 50,000-ton
high-purity crystalline silicon has completed site selection analysis, technical plan, organization capacity, schedule planning,
investment estimation, financial evaluation, etc. After several rounds of discussions, the top-level design has been preliminarily
completed.
In the silicon wafer business, on the basis of consolidating the customer base of polycrystalline silicon wafer products, it adopts
diversified operations, actively transforms the mainstream market with the monocrystalline route, makes full use of its own
advantages, and enhances the ability of asset creation. In the first half of 2022, the profitability of the wafer business improved
significantly, which benefited from the successful capture of the Indian market by polycrystalline silicon wafer products, the
transformation of monocrystalline wafers and preliminary results achieved by ingot purification single crystal materials, among
which, in the first half of 2022, a total of 10.82 million monocrystalline silicon wafers were sold, and 802 tons of ingot refining
single crystal materials were used. The transformation of silicon wafer to single crystal is in line with the long-term development
strategy of the Company. In terms of market strategy, monocrystalline silicon wafers have successfully entered the TOP 5 battery
manufacturers (Aixu, Jietai, Jinko, etc.). The module business has completed the construction of a 500MW high-power, large-size
module production line and has been put into production smoothly, greatly improving the ability to obtain orders. The power station
business added 7.2MW to the grid in the first half of 2022, with a total of 139MW of photovoltaic power stations.
In the first half of 2022, the Company's solar and other business revenue totaled RMB 1.434 billion, a year-on-year increase of
225.49%, and its net profit was RMB 282 million, a significant year-on-year increase.



                                                                 14
                                                                                                       CSG Semi-annual Report 2022


II. Core Competitiveness Analysis

CSG, one of the most competitive and influential large-scale enterprises in China's glass industry and new energy industry, is
committed to the development of energy conservation renewable, and new material industry. After nearly 40 years of development
and accumulation, the Company has gradually formed a comprehensive competitive advantage in terms of products and brands,
technology research and development, industrial chain and layout, talent team, and green development.


1. Product and brand advantages
"CSG" is a famous brand of domestic energy-saving glass, ultra-thin electronic glass, display and solar photovoltaic products. Its
products and technology are well-known at home and abroad. The trademarks " 南 玻 " and "SG" held by the Company are both
"Famous Trademark of China". The Company has been listed in the "Top 50 Building Materials Enterprises in China", "Top 100
Industry Leaders in Shenzhen" and "Preferred Brand of Architectural Glass" in Door and Window Curtain Wall Industry for many
years. In 2018,"CSG" brand was recognized by the United Nations Industrial Development Organization as the fourth batch of
"International Reputation Brand". CSG’s low-E coated glass and ultra-thin electronic glass were awarded the title of Single
Champion Product by the Ministry of Industry and Information Technology, and it is the only manufacturer in the domestic glass
industry that has two single champion products at the same time.


2. Technology research and development advantage
The Company has always attached importance to technology research and development since its establishment, and has taken
independent R&D as its foundation by which leading the development of China's glass industry. As of June 30, 2022, the Company
has had a total of 19 national high-tech Enterprises, 2 national-level manufacturing single champion products, 1 national-level
engineering laboratory, 1 national-level enterprise technology center, 3 national intellectual property advantage enterprises, 5
national-level specialized and sophisticated enterprises, 1 National Science and Technology Progress Award, 2 provincial-level
academician workstations, 1 provincial-level doctoral workstation, 12 provincial-level enterprise technology centers, 6
provincial-level engineering technology research centers, 4 provincial-level intellectual property demonstration construction
enterprises, 6 provincial-level specialized and sophisticated enterprises, 7 provincial-level science and technology little giants, 1
provincial-level government quality award, 9 provincial-level scientific and technological progress awards, 3 provincial-level patent
awards. As of June 30, 2022, the Company had applied for a total of 2,470 patents, including 993 inventions, 1,468 utility model
patents, and 9 designs. The Company had been accumulatively authorized 1,811, including 337 inventions, 1,465 utility models, and
9 designs.


3. Industrial chain and layout advantages
The Company has three complete industrial chains of energy-saving glass, electronic glass and display, and solar photovoltaic. With
the continuous improvement of the technological level of each link of the industrial chain, the industrial advantage is obvious. At the
same time, the Company possesses a complete industry layout. The six major production bases are located in the Pearl River Delta in
South China, the Yangtze River Delta in East China, the Chengdu-Chongqing region in Southwest China, Beijing-Tianjin-Hebei
region in North China, and the Hubei region in Central China.


4. Talent team advantage
The advantage of the Company’s talent team is mainly reflected in two aspects: On the one hand, the Company has established a
strong R&D team and R&D system. Through the construction of the core technical team, continuous R&D investment, and abundant
technical reserves, it has built up important technological innovation support for the Company’s strategy. Meanwhile, it establishes
Industry-University-Research cooperation, actively cooperating with domestic colleges and universities which are in advantage in


                                                                   15
                                                                                                           CSG Semi-annual Report 2022


silicate materials industry, to accelerate the transformation of scientific research results, and to strengthen basic research; on the other
hand, an excellent and stable management team is one of the most fundamental guarantees for the Company’s rapid and stable
development. The Company has formed a good echelon training mechanism for professional managers. At present, the Company's
senior management team has comparative advantages in terms of academic background, professional qualities, knowledge reserves,
management concepts and experience.


5. Green development advantage
The Company prospectively chooses the enterprise development path of environmental protection and green development.
Environmental protection is the lifeline of the survival and development of glass enterprises and the concentrated embodiment of
corporate social responsibility in high energy consuming industries. As an environment-friendly and resource-saving enterprise, CSG
took the lead in the industry to use natural gas as fuel in all furnace production lines as early as more than ten years ago, and at the
same time took the lead in the industry to adopt waste heat power generation, distributed photovoltaic power generation and other
methods to achieve comprehensive energy utilization, and adopt comprehensive exhaust gas treatment such as desulfurization,
denitration and dust removal to achieve ultra-low emission, which is far lower than the national standard pollutant emission
permission value. Promoted by the goal of "Carbon Peaking and Carbon Neutrality" and the continuous tightening of environmental
protection policies, the Company, as a pioneer in the green development of the industry, has won a broad development space for
itself.


III. Main business analysis

Overview
Please refer to the relevant content of “I. Main business of the Company in the report period”.
Year-on-year changes of main financial data
                                                                                                                              Unit: RMB

                                                                              Increase
                                                    The corresponding        /decrease
                               The report period                                                         Reasons of change
                                                    period of last year    year-on-year
                                                                              (%)

Operating income                   6,519,216,676         6,614,802,538             -1.45%

Operating costs                    4,637,645,927         4,126,627,145             12.38%

Sales expenses                       133,906,652           125,326,015              6.85%

Administration expenses              318,635,812           354,914,704            -10.22%

Financial expenses                    62,797,352             86,999,999           -27.82%

Income tax expenses                  168,925,524           255,280,290            -33.83% Mainly due to the decrease in total profit

R&D investment                       265,877,930           224,886,882             18.23%
                                                                                            Mainly due to the increase in expenditure
Net cash flow arising from
                                     902,803,121         1,698,245,375            -46.84% on purchasing goods and the decrease in
operating activities
                                                                                            cash received from selling goods
                                                                                            Mainly due to the increase in cash flow
Net cash flow arising from
                                  -1,832,143,634         -1,170,930,677            56.47% paid for the purchase and construction of
investment activities
                                                                                            fixed assets, intangible assets and other


                                                                    16
                                                                                                          CSG Semi-annual Report 2022


                                                                                            long-term assets

Net cash flow arising from
                                     1,033,633,029        -1,002,452,352                    Mainly due to increase in borrowings
financing activities

Net increase in cash and
                                      107,488,197           -476,355,365
cash equivalents

Major changes on profit composition or profit resources in the report period

□Applicable √Not applicable
There was no major change in the Company's profit composition or profit resources during the report period.
Composition of operating income
                                                                                                                              Unit: RMB

                                          The report period                The corresponding period of last year
                                                                                                                        Increase/decrease
                                                     Ratio in operating                        Ratio in operating
                                 Amount                                     Amount                                           y-o-y
                                                          income                                     income

Total of operating income       6,519,216,676                      100%    6,614,802,538                        100%              -1.45%

According to industry

Glass industry                  4,428,770,426                   67.93%     5,352,576,980                       80.92%           -17.26%

Electronic glass &
                                     809,915,769                12.42%       880,888,108                       13.32%             -8.06%
Display industry

Solar energy and other
                                1,433,641,147                   21.99%       440,453,797                       6.66%            225.49%
industries

Undistributed                        230,507,530                   3.54%       42,652,849                      0.64%            440.43%

Amount of unutilized             -383,618,196                    -5.88%      -101,769,196                      -1.54%           276.95%

According to product

Glass products                  4,428,770,426                   67.93%     5,352,576,980                       80.92%           -17.26%

Electronic glass &
                                     809,915,769                12.42%       880,888,108                       13.32%             -8.06%
Display products

Solar energy and other
                                1,433,641,147                   21.99%       440,453,797                       6.66%            225.49%
products

Undistributed                        230,507,530                   3.54%       42,652,849                      0.64%            440.43%

Amount of unutilized             -383,618,196                    -5.88%      -101,769,196                      -1.54%           276.95%

According to region

Mainland China                  6,019,026,588                   92.33%     5,993,997,205                       90.61%              0.42%

Overseas                             500,190,088                   7.67%     620,805,333                       9.39%            -19.43%

List of the industries, products or regions exceed 10% of the operating income or operating profits of the Company

√Applicable     □ Not applicable
                                                                                                                              Unit: RMB




                                                                     17
                                                                                                             CSG Semi-annual Report 2022


                                                                                  Increase/decrease Increase/decrease Increase/decrease
                                                                   Gross profit
                           Operating income Operating cost                          of operating     of operating cost    of gross profit
                                                                       ratio
                                                                                    income y-o-y          y-o-y            ratio y-o-y

According to industry

Glass industry                  4,428,770,426      3,060,501,990       30.89%             -17.26%               -6.90%               -7.70%

Electronic glass &
                                 809,915,769        582,707,570        28.05%               -8.06%             10.47%              -12.07%
Display industry

Solar energy and other
                                1,433,641,147       950,467,515        33.70%             225.49%             156.06%              17.98%
products

According to product

Glass products                  4,428,770,426      3,060,501,990       30.89%             -17.26%               -6.90%               -7.70%

Electronic glass &
                                 809,915,769        582,707,570        28.05%               -8.06%             10.47%              -12.07%
Display products

Solar energy and other
                                1,433,641,147       950,467,515        33.70%             225.49%             156.06%              17.98%
products

According to region

Mainland China                  6,019,026,588      4,235,104,852       29.64%               0.42%              14.02%                -8.39%

Overseas                         500,190,088        402,541,075        19.52%             -19.43%               -2.36%             -14.07%

Under the circumstances that the statistical standards for the Company’s main business data adjusted in the report period, the
Company's main business data in the recent year is calculated based on adjusted statistical standards at the end of the report period
□ Applicable    √ Not applicable


IV. Non-core business analysis

√Applicable □Not applicable
                                                                                                                               Unit: RMB

                                              Percentage to                                                           Whether sustainable
                                Amount                                     Explanation of the reason
                                              total profits                                                                 or not

Income from investment          16,413,695           1.39% Mainly from the purchase of structured deposits                    No

                                                              Mainly due to the reversal of inventory depreciation
Impairment of assets                 -1,456              0%                                                                   No
                                                              reserves
                                                              Mainly insurance compensation and unpaid
Non-operating income            15,132,978           1.29%                                                                    No
                                                              payments, etc.
Non-operating expenses           3,660,070           0.31% Mainly compensation and other expenses                             No

                                                              Mainly the profit and loss on disposal of non-current
Income from asset disposal      12,745,461           1.08%                                                                    No
                                                              assets
Other income                    99,302,552           8.43% Mainly the return of government subsidies, etc.                    No
                                                              Mainly due to the provision for bad debts of
Credit impairment loss           1,492,222           0.13%                                                                    No
                                                              accounts receivable




                                                                     18
                                                                                                              CSG Semi-annual Report 2022


V. Assets and liabilities

1. Significant changes in assets composition

                                                                                                                                  Unit: RMB

                                                     End of the corresponding
                        End of the report period                                   Increase or
                                                        period of last year
                                                                                    decrease
                                        Percentage                   Percentage                  Explanation of significant changes
                                                                                       in
                          Amount         to total      Amount          to total
                                                                                   proportion
                                          assets                       assets

Monetary funds          2,870,042,541      12.77% 2,765,925,906         13.87%        -1.10%


Accounts receivable      842,283,667        3.75%     730,525,687        3.66%         0.09%


                                                                                             Mainly due to the resumption of
                                                                                             production of Yichang CSG Polysilicon
Inventory               1,766,912,399       7.86% 1,093,805,525          5.49%         2.37%
                                                                                             and the increase in material reserves of
                                                                                             some subsidiaries, etc.
Investment property      383,084,500        1.70%     383,084,500        1.92%        -0.22%

Fixed assets            9,336,413,529      41.55% 8,566,515,026         42.96%        -1.41%

Construction in
                        2,809,337,684      12.50% 2,461,088,650         12.34%         0.16%
progress

Right of use assets        9,034,632        0.04%        9,911,935       0.05%        -0.01%

                                                                                                 Mainly due to borrowings of some
Short-term loans         468,108,522        2.08%     180,770,000        0.91%         1.17%
                                                                                                 subsidiaries
Contract liabilities     413,885,125        1.84%     335,188,642        1.68%         0.16%

                                                                                                 Mainly due to the increase of loans for
Long-term loans         3,161,136,468      14.07% 1,469,059,824          7.37%         6.70%
                                                                                                 project construction
                                                                                                 Mainly due to the reclassification of
Lease liabilities                                         220,138             0%                 lease liabilities to non-current liabilities
                                                                                                 due within one year
                                                                                             Mainly because some were converted to
Notes receivable             445,375           0%      19,220,984        0.10%        -0.10% accounts receivable due to
                                                                                             non-performance by the drawer
                                                                                             Mainly due to the increase in sales
Receivables financing    582,328,808        2.59%     297,046,123        1.49%         1.10% revenue from the resumption of Yichang
                                                                                             CSG Polysilicon
                                                                                             Mainly due to the increase in
Prepayments              235,326,059        1.05%      76,097,276        0.38%         0.67% prepayments for materials by some
                                                                                             subsidiaries
                                                                                                 Mainly due to the decrease in
Other current assets      68,616,670        0.31%     140,705,298        0.71%        -0.40%
                                                                                                 value-added tax to be deducted
                                                                                                 Mainly due to the increase of new notes
Notes payable            549,939,628        2.45%     400,662,713        2.01%         0.44%
                                                                                                 issued by some subsidiaries
Payroll payable          287,729,142        1.28%     426,212,979        2.14%        -0.86% mainly due to the year-end bonuses


                                                                  19
                                                                                                             CSG Semi-annual Report 2022


                                                                                                  accrued in the previous year that were
                                                                                                  paid during the report period.

Non-current liabilities                                                                          Mainly due to the reclassification of
                           2,371,913,539         10.56%      503,820,548       2.53%       8.03% bonds payable to non-current liabilities
due within one year
                                                                                                 due within one year
                                                                                                 Mainly due to the reclassification of
Bonds payable                                             1,996,587,330      10.01%      -10.01% bonds payable to non-current liabilities
                                                                                                 due within one year


2. Main overseas assets

□Applicable √Not applicable

3. Assets and liabilities at fair value

√Applicable □Not applicable
                                                                                                                               Unit: RMB

                                        Profi
                                        t and
                                           loss                 Imp
                                           from     Cumul      airm
                                           chan     ative       ent
                                           ges      chang       accr
                                            in       es in      ued         Purchase
                          Opening                                                          Amount sold         Other           Closing
       Item                                fair      fair        in    amount for this
                          balance                                                          in this period     changes          balance
                                        value       value       the          period
                                            in      includ      curr
                                           the      ed in       ent
                                        curre       equity      peri
                                            nt                  od
                                        perio
                                            d

 Financial assets
 Trading
 financial assets
 (excluding
                          999,600,000                                   2,198,160,000      1,988,760,000                    1,209,000,000
 derivative
 financial
 assets)
 Subtotal of
                          999,600,000                                   2,198,160,000      1,988,760,000                    1,209,000,000
 financial assets
 Investment real
                          383,084,500                                                                                         383,084,500
 estate
 Receivables
                          297,046,123                                                                       285,282,685       582,328,808
 financing
 Total of the
                      1,679,730,623                                     2,198,160,000      1,988,760,000    285,282,685     2,174,413,308
 above

                                                                       20
                                                                                                     CSG Semi-annual Report 2022


Other changes: nil
During the report period, whether the company’s main asset measurement attributes changed significantly or not
□Yes   √No


4. Limited asset rights as of the end of the report period

                                                                                                                       Unit: RMB

                 Item                               Closing book value                              Limited reason

Monetary funds                                                             6,076,772 Limited circulation of margin

Fixed assets                                                             148,986,093 Limited finance lease

Total                                                                    155,062,865                         --


VI. Investment analysis

1. Overall situation

√Applicable   □Not applicable
  Investment in the report period (RMB)      Investment in the same period of last year (RMB)                Change range

                            3,850,076,802                                         2,389,404,198                             61.13%


2. The major equity investment obtained in the report period

□Applicable   √Not applicable




                                                                21
                                                                                                                                                                             CSG Semi-annual Report 2022
    3. The major ongoing non-equity investment in the report period

    √Applicable     □ Not applicable
                                                                                                                                                                                                     Unit: RMB

                                                                                                                                                                              Reasons for
                              Fixed                                     Accumulative                                                                           Accumulati
                                                                                                                                                                                    not       Date of     Index of
                              asset                                        amount                                                                              ve revenue
                    Way of                            Amount invested                                                                                                          achieving     disclosur disclosure
                              inves Industry                              actually        Source of                                               Expected     achieved by
     Project       investme                             in the report                                   Progress of project (ongoing projects)                                the planned       e (if       (if
                              tment involved                             invested by        funds                                                  return       the end of
                      nt                                   period                                                                                                             progress and applicabl applicable
                              or                                        the end of the                                                                          the report
                                                                                                                                                                              the expected       e)          )
                              not                                       report period                                                                             period
                                                                                                                                                                                 return

                                                                                                        CSG plans to invest in the construction
                                                                                                                                                               Part of the   Part of the
                                                                                                        of energy-saving glass production
                                                                                                                                                               project had project had
Zhaoqing CSG                                                                             Own funds project in Zhaoqing from 2019 to
                                                                                                                                                               been          been
high-grade                                                                               and loans      2021. After the production, the
                                                                                                                                                               completed, completed,         Decembe Notice
energy                                Manufacturing                                      from           company will produce 2.5 million
                   Self-built Yes                          27,140,143    340,490,176                                                              69,880,000 and the         and the         r 13,       number:
conservation                          industry                                           financial      square meters of energy-saving
                                                                                                                                                               benefits had benefits had 2019            2019-077
glass production                                                                         institutions insulating glass and 3.5 million square
                                                                                                                                                               been          been
line project                                                                                            meters of coated energy-saving
                                                                                                                                                               reflected in reflected in
                                                                                                        products. Part of the project has been
                                                                                                                                                               the profits. the profits.
                                                                                                        put into production.

                                                                                         Own funds
Zhaoqing CSG                                                                                            CSG plans to invest in the construction                No profit as No profit as
                                                                                         and loans
high-grade                                                                                              of high-end automotive glass                           the project   the project is Decembe Notice
                                      Manufacturing                                      from
automotive glass Self-built Yes                            26,746,441     54,688,369                    production line in Zhaoqing from 2019     58,000,000 is in the       in the          r 13,       number:
                                      industry                                           financial
production line                                                                                         to 2021. The project is under                          construction construction 2019            2019-077
                                                                                         institutions
project                                                                                                 construction.                                          period.       period.


Anhui Fengyang                        Manufacturing                                      Own funds CSG plans to build a new production                         Part of the   Part of the     March 6, Notice
                   Self-built Yes                          83,192,287    139,848,770                                                              82,380,000
quartz sand                           industry                                           and loans      base of low iron (ultra-white) quartz                  project had project had       2020        number:
                                                                                                         22
                                                                                                                                                                 CSG Semi-annual Report 2022
project                                                                      from           sand with an annual output of 600,000                  been          been                         2020-010
                                                                             financial      tons in Fengyang, Anhui Province, and                  completed, completed,
                                                                             institutions obtain the raw ore right of quartz sand.                 and the       and the
                                                                                            The processing plant has been put into                 benefits had benefits had
                                                                                            operation                                              been          been
                                                                                                                                                   reflected in reflected in
                                                                                                                                                   the profits. the profits.

Anhui Fengyang
 Lightweight &                                                                              CSG plans to invest in Anhui Province
                                                                             Own funds                                                             No profit as No profit as
 high-permeabil                                                                             for the project of lightweight
                                                                             and loans                                                             the project   the project is               Notice
 ity panel for                     Manufacturing                                            &high-permeability panel for solar                                                    March 6,
                  Self-built Yes                   776,565,916 1,541,736,443 from                                                     435,660,000 is in the      in the                       number:
 solar energy                      industry                                                 energy equipment manufacturing base                                                   2020
                                                                             financial                                                             construction construction                  2020-010
 equipment                                                                                  in 2020-2022.The project is under
                                                                             institutions                                                          period.       period.
 manufacturing                                                                              construction.
 base project

                                                                                                                                                   The project
                                                                                            CSG intends to invest in a new coating
                                                                                                                                                   has just
                                                                                            production line in Tianjin CSG, and at                               The project
                                                                                                                                                   been
                                                                                            the same time upgrade and transform                                  has just been
                                                                                                                                                   completed
Tianjin                                                                                     the existing coating line B and line C.                              completed
                                                                             Own funds                                                             and
Energy-saving                                                                               The project plans to increase the                                    and
                                                                             and loans                                                             transferred                                Notice
Coating                            Manufacturing                                            annual production capacity of 2.76                                   transferred      April 30,
                  Self-built Yes                     5,636,400   100,861,437 from                                                      16,400,000 to fixed                                    number:
Production Line                    industry                                                 million square meters through the                                    to fixed         2020
                                                                             financial                                                             assets, and                                2020-023
Purchase and                                                                                purchase of coating lines and the                                    assets, and
                                                                             institutions                                                          the income
Upgrade Project                                                                             upgrading and transformation of                                      the income
                                                                                                                                                   has not
                                                                                            existing production lines.                                           has not been
                                                                                                                                                   been
                                                                                            The project has been put into                                        reflected yet.
                                                                                                                                                   reflected
                                                                                            production.
                                                                                                                                                   yet.

Wujiang           Self-built Yes   Manufacturing    18,921,344    70,687,326 Own funds CSG plans to build a full-process               50,490,000 No profit as No profit as June 24, Notice

                                                                                             23
                                                                                                                                                                  CSG Semi-annual Report 2022
Architectural                      industry                                   and loans     flexible automated production line                      the project   the project is 2020         number:
Glass newly                                                                   from          covering cutting, edging, tempering,                    is in the     in the                      2020-051
building                                                                      financial     insulating and other processes in                       construction construction
intelligent                                                                   institutions Wujiang CSG East China Architectural                     period.       period.
manufacturing                                                                               Glass Co., Ltd., using the reserved
plant                                                                                       industrial land in the factory area. The
construction                                                                                new factory building area is 31,968
project                                                                                     square meters, and the new intelligent
                                                                                            manufacturing production line has an
                                                                                            annual output of 1.2 million square
                                                                                            meters of Low-E energy-saving
                                                                                            insulating glass. The project is under
                                                                                            construction.

                                                                                            CSG plans to build two lightweight
                                                                                            and high-efficiency double-glass
                                                                                            processing production lines in Wujiang
                                                                                            Float. After the production line is
Wujiang Float
                                                                                            completed, it is expected to add 2
Lightweight and
                                                                              Own funds million square meters of double-glass                       No profit as No profit as
High-efficiency
                                                                              and loans     production capacity per month, with an                  the project   the project is              Notice
double-glass                       Manufacturing                                                                                                                                   August
                  Self-built Yes                   69,360,586   109,762,834 from            annual production capacity of 24           47,850,000 is in the       in the                      number:
processing                         industry                                                                                                                                        24, 2020
                                                                              financial     million square meters. After the project                construction construction                 2020-061
production line
                                                                              institutions is completed, it will give full play to                  period.       period.
construction
                                                                                            Wujiang Float’s technical advantages
project
                                                                                            of double-glass, enhance market
                                                                                            competitiveness, and expand the scale
                                                                                            of the Company's benefits. The project
                                                                                            is under construction.

Xi'an CSG                                                                     Own funds CSG Group plans to invest in Xi'an,                         No profit as No profit as Novemb Notice
                  Self-built Yes   Manufacturing     811,279      1,148,618                                                            42,220,000
Energy-saving                                                                 and loans     Shanxi Province for building a                          the project   the project is er 7,        number:
                                                                                             24
                                                                                                                                                                  CSG Semi-annual Report 2022
glass production                    industry                                 from           high-end energy-saving glass                            is in the     in the           2020       2020-070
line project                                                                 financial      production line with an annual output                   construction preparation
                                                                             institutions of 2.1 million square meters of                           period.       period.
                                                                                            insulating energy-saving glass, and a
                                                                                            3.5 million square meter energy-saving
                                                                                            glass production line with coated
                                                                                            energy-saving products. The project is
                                                                                            under construction.

Hebei Panel                                                                                 CSG plans to build an ultra-thin
                                                                             Own funds                                                              No profit as No profit as
Glass ultra-thin                                                                            electronic glass production line with a
                                                                             and loans                                                              the project   the project is              Notice
electronic glass                    Manufacturing                                           daily melting capacity of 110 tons and                                                 March
                   Self-built Yes                    51,867,735    76,272,085 from                                                      46,710,000 is in the      in the                      number:2
Line II                             industry                                                a complementary R&D center in Hebei                                                    27, 2021
                                                                             financial                                                              construction construction                 021-008
construction                                                                                Panel Glass. The project is under
                                                                             institutions                                                           period.       period.
project                                                                                     construction.

Xianning CSG
1200T/D                                                                      Own funds CSG plans to build a photovoltaic kiln                       No profit as No profit as
Photovoltaic                                                                 and loans      with a daily melting capacity of 1,200                  the project   the project is              Notice
                                    Manufacturing                                                                                                                                  March
Packaging          Self-built Yes                   221,289,643   287,738,732 from          tons and complementary deep                128,350,000 is in the      in the                      number:2
                                    industry                                                                                                                                       27, 2021
Material                                                                     financial      processing lines in Xianning CSG. The                   construction construction                 021-008
Production Line                                                              institutions project is under construction.                            period.       period.
Project

Dongguan CSG                                                                                CSG plans to carry out cold repair and
Solar                                                                                       technical transformation of the 650T/D
                                                                             Own funds                                                              No profit as No profit as
Double-Glass                                                                                line ultra-white solar kiln in Dongguan
                                                                             and loans                                                              the project   the project is              Notice
Calendering                         Manufacturing                                           Solar Phase III, and start the technical                                               June 8,
                   Self-built Yes                    69,857,051    72,246,922 from                                                      60,670,000 is in the      in the                      number:
Line Technical                      industry                                                transformation and upgrade project of                                                  2021
                                                                             financial                                                              construction construction                 2021-025
Transformation                                                                              double-glass calendering line. After
                                                                             institutions                                                           period.       period.
and Upgrade                                                                                 the project is completed, it will ensure
Project                                                                                     that the product quality, output

                                                                                             25
                                                                                                                                                              CSG Semi-annual Report 2022
                                                                                         efficiency, energy consumption level
                                                                                         and cost advantage are at the leading
                                                                                         domestic level. The project is under
                                                                                         construction.

                                                                                         CSG Group plans to invest in the
                                                                                         construction of CSG East China
                                                                                         Headquarters Building in Wujiang
                                                                                         District, Suzhou City, Jiangsu
                                                                          Own funds
                                                                                         Province, as the R&D, marketing,                       The project The project
CSG East China                                                            and loans                                                                                                  Notice
                                     Manufacturing                                       exhibition, office and cooperation                     is in the     is in the     August
headquarters        Self-built Yes                    899,257     899,257 from                                                                                                       number:
                                     industry                                            center of upstream and downstream                      construction construction 27, 2021
building                                                                  financial                                                                                                  2021-039
                                                                                         enterprises in the industry chain in                   period.       period.
                                                                          institutions
                                                                                         East China, so as to meet the needs of
                                                                                         CSG's expanding business scale and
                                                                                         increasing personnel in East China in
                                                                                         the future.

                                                                                         CSG plans to invest in the construction
                                                                                         of CSG Guangxi Beihai Photovoltaic
                                                                                         Green Energy Industrial Park project
                                                                                         in Beihai Tieshangang Industrial Park,
CSG Guangxi                                                                              Longgang New District, Guangxi
                                                                          Own funds                                                             No profit as No profit as
Beihai                                                                                   Zhuang Autonomous Region. Phase I
                                                                          and loans                                                             the project   the project is Septemb Notice
Photovoltaic                         Manufacturing                                       of the project includes two 1,200t/d
                    Self-built Yes                   2,822,610   3,205,607 from                                                    557,640,000 is in the      in the        er 10,   number:
Green Energy                         industry                                            One-kiln & Five-line photovoltaic
                                                                          financial                                                             construction construction 2021       2021-041
Industrial Park                                                                          rolled glass production lines and
                                                                          institutions                                                          period.       period.
Project (Phase I)                                                                        complementary photovoltaic glass
                                                                                         processing production line, as well as
                                                                                         complementary R&D center, 2.5GW
                                                                                         photovoltaic module production line,
                                                                                         one 700 t/d one-kiln two-line
                                                                                          26
                                                                                                                                                              CSG Semi-annual Report 2022
                                                                                         production line for electronic glass and
                                                                                         photoelectric glass, complementary
                                                                                         quartz sand mine and purification
                                                                                         processing line. The project is under
                                                                                         construction.

                                                                                         CSG plans to invest in the construction
                                                                                         of a CSG energy-saving glass
                                                                                         intelligent manufacturing industrial
                                                                                         base in Hefei City, Anhui Province,
Hefei CSG                                                                                using a new generation of intelligent
                                                                          Own funds                                                             No profit as No profit as
Energy-saving                                                                            manufacturing technologies and
                                                                          and loans                                                             the project   the project is               Notice
Glass Intelligent                    Manufacturing                                       processes to build an energy-saving                                                   October
                    Self-built Yes                    820,064     820,064 from                                                      46,660,000 is in the      in the                       number:
Manufacturing                        industry                                            glass processing center, and to further                                               15, 2021
                                                                          financial                                                             construction construction                  2021-043
Industry Base                                                                            expand the market layout of CSG in
                                                                          institutions                                                          period.       period.
Project                                                                                  central China, thereby to better serve
                                                                                         the market and customers, and serve
                                                                                         the national "Carbon Peaking and
                                                                                         Carbon Neutrality goals".The project
                                                                                         is under construction.

                                                                                         CSG plans to use the surplus land in
                                                                                         the park to implement the production
Xianning CSG
                                                                                         line reconstruction and expansion
Energy-saving
                                                                          Own funds project in Xianning CSG                                     No profit as No profit as
Glass Co., Ltd.
                                                                          and loans      Energy-Saving Glass Co., Ltd., to                      the project   the project is               Notice
Production Line                      Manufacturing                                                                                                                             Decembe
                    Self-built Yes                   3,276,913   3,423,496 from          carry out technical renovation and         27,130,000 is in the      in the                       number:
Reconstruction                       industry                                                                                                                                  r 3, 2021
                                                                          financial      upgrade of the existing coating                        construction construction                  2021-051
and Expansion
                                                                          institutions equipment, expand the workshop and                       period.       period.
Construction
                                                                                         supplement the complementary
Project
                                                                                         processing equipment, and
                                                                                         simultaneously implement the full
                                                                                          27
                                                                                                                                                                CSG Semi-annual Report 2022
                                                                                           intelligent connection. After the
                                                                                           completion of the project, it is
                                                                                           expected that the company's annual
                                                                                           production capacity of insulating glass
                                                                                           will increase by 1.2 million square
                                                                                           meters, and the annual production
                                                                                           capacity of coated glass will increase
                                                                                           by 2.42 million square meters. The
                                                                                           project is under construction.

                                                                                           CSG plans to carry out technical
                                                                                           transformation of phase I production
                                                                                           line of Qingyuan CSG Energy-saving
                                                                                           New Material Co., Ltd., and achieves
                                                                                           furnace and hardware upgrades
                                                                                           through technological innovation to
Qingyuan CSG
                                                                                           meet the technological requirements of
Energy-saving
                                                                              Own funds the Group's newly developed                               No profit as No profit as
New Materials
                                                                              and loans    third-generation high-alumina products                 the project   the project is Decembe Notice
Co., Ltd. Phase I                    Manufacturing
                    Self-built Yes                   4,614,306   20,225,415 from           (KK8). This technical upgrade will        60,210,000 is in the       in the        r 25,   number:
Upgrading and                        industry
                                                                              financial    further promote the technological                      construction construction 2021      2021-053
Technical
                                                                              institutions innovation of CSG in the field of                      period.       period.
Transformation
                                                                                           electronic glass, open up the
Project
                                                                                           technological generation gap with
                                                                                           domestic business partners, seize the
                                                                                           market share of imported products, and
                                                                                           speed up the process of import
                                                                                           substitution. The project is under
                                                                                           construction.

Dongguan Solar                                                                Own funds CSG Group plans to upgrade the                            No profit as No profit as March     Notice
               Self-built Yes        Manufacturing   3,303,071    3,303,071                                                          41,560,000
G6/G7 Line                                                                    and loans process and equipment of the two                          the project the project is 29,      number:
                                                                                            28
                                                                                                                                                                 CSG Semi-annual Report 2022
Process and                       industry                                      from         existing glass deep-processing                           is in the    in the       2022    2022-006
Equipment                                                                       financial    production lines (G6/G7 lines) of                        construction construction
Upgrading                                                                       institutions Dongguan CSG Solar Glass Co., Ltd.                       period.      period.
Project                                                                                      to meet the production needs of
                                                                                             large-size glass and double-plated
                                                                                             products. After the completion of the
                                                                                             project, it will give full play to the
                                                                                             technical advantages of Dongguan
                                                                                             solar double glass technology, enhance
                                                                                             market competitiveness and expand
                                                                                             the Company's benefit scale. The
                                                                                             project is under construction.
                                                                                          CSG plans to build a new high-purity
                                                                                          crystalline silicon production line with
                                                                                          an annual output of 50,000 tons in
High-purity                                                                               Haixi Prefecture, Qinghai Province.
crystalline                                                                               Qinghai is not only rich in green
                                                                             Convertible
silicon project                                                                           power resources, but also one of the
                                                                             bonds, own                                                            The project    The project
with an annual                    Manufacturing                                           regions with the greatest development                                                        Notice
                                                                             funds and                                                             is in the      is in the   June 23,
output of 50,000 Self-built Yes                              0             0              potential for clean energy, especially       863,280,000                                     number:
                                  industry                                   loans from                                                            preparatory    preparatory 2022
tons in Haixi                                                                             photovoltaic power generation in the                                                         2022-024
                                                                             financial                                                             stage.         stage.
Prefecture,                                                                               future. Therefore, the deployment of
                                                                             institutions
Qinghai                                                                                   high-purity crystalline silicon
Province                                                                                  production lines in Qinghai Province is
                                                                                          of great strategic significance to the
                                                                                          development of CSG's new energy
                                                                                          industry.
Total                --      --         --        1,367,125,046 2,827,358,622        --                        --                     2,635,090,000        --          --          --      --




                                                                                              29
                                                                                                        CSG Semi-annual Report 2022


4. Financial assets investment

(1) Securities investment

□ Applicable      √ Not applicable
There was no securities investment during the report period.


 (2) Derivative investment

□ Applicable      √ Not applicable
There was no derivative investment during the report period.


5. Use of raised fund

□ Applicable      √ Not applicable
There was no use of raised fund during the report period.


VII. Sale of major assets and equity

1. Sale of major assets

□ Applicable      √ Not applicable
The Company did not sell major assets during the reporting period.


2. Sale of major equity

□ Applicable      √ Not applicable




VIII. Analysis of main subsidiaries and joint-stock companies

√Applicable □ Not applicable

Particular about main subsidiaries and joint -stock companies which have influence on the Company's net profit by over 10%
                                                                                                                         Unit: RMB
                                                     Register
                                                                                              Operating     Operating
Name of company          Type      Main business        ed       Total assets   Net assets                              Net profit
                                                                                               income         profit
                                                      capital

                                  Production and
Yichang CSG                       sales of
                                                     1,467.98
Polysilicon Co.,      Subsidiary high-purity                    2,285,207,511   383,591,470 1,070,634,440 318,624,155 267,683,747
                                                     million
Ltd.                              silicon material
                                  products

Chengdu CSG           Subsidiary Development,        260        1,015,005,609   508,429,036   640,951,236 116,863,964 100,907,607


                                                                     30
                                                                                                        CSG Semi-annual Report 2022


Glass Co., Ltd.                   manufacture and million
                                  sales of various
                                  special glass

                                  Manufacture
                                                     USD
Hebei CSG Glass                   and sales of
                     Subsidiary                      48.06m    1,137,135,785   951,796,503     540,267,239 117,254,772 100,027,129
Co., Ltd.                         various special
                                                     illion
                                  glass

                                  Manufacture
Wujiang CSG                       and sales of       565.04
                     Subsidiary                                1,962,966,929 1,599,080,155     851,318,321    99,130,927    83,140,150
Glass Co., Ltd.                   various special    million
                                  glass

                                  Manufacture
Xianning CSG                      and sales of       235
                     Subsidiary                                1,565,679,800 1,021,712,200     484,653,130    93,879,939    80,211,229
Glass Co., Ltd.                   various special    million
                                  glass

Particulars about subsidiaries obtained or disposed in report period
□ Applicable     √ Not applicable


IX. Structured main bodies controlled by the Company

□ Applicable     √ Not applicable


X.Risks the Company faces and countermeasures

In 2022, in the face of “New Normal” of domestic economic development and the task of building a “Century CSG”, the Company
will face the following risks and challenges:
①The epidemic situation at home and abroad and the international political environment are still facing many uncertainties.
Affected by the repeated outbreaks of the epidemic and the complicated international political environment, the domestic economy
still faces many challenges and uncertainties. In the second half of 2022, the Company will continue to normalize epidemic
prevention and control, strengthen its attention to the market, timely adjust the strategy according to market changes, and strive to
achieve the annual core work objectives through steady operation.
②The glass industry is facing the pressure of fierce competition for similar products, rising raw materials and fuels and rising labor
costs. The float glass industry is facing the pressure of a staged slowdown in the downstream architectural glass market demand; the
photovoltaic glass industry is facing the pressure of short-term mismatch between supply and demand and fluctuations in foreign
situations. The electronic glass and display device industry is facing the risk of accelerating the upgrading of material technology due
to the continuous and rapid iterative upgrading of downstream application scenarios; in the second half of 2022, with the successive
commissioning of new high-purity crystalline silicon production capacity and the release of production capacity, the downward
potential of high-purity crystalline silicon prices will increase; the overall imbalance of the solar energy supply chain is difficult to
break in the short term, and the price of upstream links is operating at a relatively high level, which puts pressure on the cost of
mid-stream and downstream business; in order to deal with the above risks, the Company will take the following measures:
A. In the flat glass segment, the Company will improve profitability and enhance industry competitiveness through continuous lean
management and differentiated operations, product structure optimization, etc.
B. In the architectural glass segment, the Company will accelerate the pace of digital, networked and intelligent transformation of the

                                                                    31
                                                                                                        CSG Semi-annual Report 2022


manufacturing industry, and reduce production manpower, material and energy consumption, Strengthen the development of
high-end markets and overseas markets, actively respond to market changes, continue to deepen the market and refine the market
layout, increase new products and the application of new technologies, improve service capabilities, and give full play to quality,
technology and brand advantages, meanwhile, carry out industrial chain extension and maintain the company's dominant position in
the industry.
C. In the solar energy segment, the Company will strengthen the integration of resources in the whole industrial chain, increase R&D
investment, strengthen operation management, and maintain enterprise competitiveness in the market segmentation field; pay close
attention to market changes, vigorously carry out cost reduction and efficiency increase activities, implement energy-saving and
consumption reduction measures, timely upgrade and replace equipment, improve production efficiency and ensure the Company's
benefits; expand the industrial scale and increase the market share by investing in new production lines.
D. In the electronic glass and display segment, the Company will increase the research and development of new technologies and
new products, maintain the leading edge of the industry technology, and further strengthen the development of the terminal market to
improve the industrial profitability.
③Risk of fluctuation of foreign exchange rate: At present, nearly 7.79% of the sales revenue of the Company is from overseas, in the
future, the Company will further develop overseas business, and therefore, the fluctuation of exchange rate will bring certain risk to
the operation of the Company. To cope with such risk, the Company will settle exchange in time and use safe and effective risk
evading instrument and product to relatively lock exchange rate and reduce the risk caused by fluctuation of exchange rate.




                                                                  32
                                                                                                                  CSG Semi-annual Report 2022




                                     Section IV. Corporate Governance

I. Particulars about annual general meeting and extraordinary general meeting held in the
report period

1. Particulars about Shareholders' General Meeting in the report period


                                                      Investor              Date of the     Disclosure
       Meeting session       Type of meeting                                                                         Disclosure index
                                                 participation ratio         meeting           date

                             Extraordinary                                                               Announcement on Resolutions of
The First Extraordinary
                             General                                   February 16,       February 17, the First Extraordinary General
General Shareholders’                                       29.04%
                             Shareholders’                            2022               2022           Shareholders’ Meeting of 2022
Meeting of 2022
                             Meeting                                                                     (Announcement No.: 2022-004)

                                                                                                         Announcement on Resolutions of
Annual General               Annual General
                                                                                          May 17,        Annual General Shareholders’
Shareholders’ Meeting of Shareholders’                     27.69% May 16, 2022
                                                                                          2022           Meeting of 2021(Announcement
2021                         Meeting
                                                                                                         No.: 2022-020)


2. Extraordinary general meeting which is requested to convene by the preferred shareholders who have
resumed the voting right

□ Applicable √Not applicable


II. Changes in directors, supervisors and senior management of the company

√Applicable □ Not applicable

     Name                 Position                Type                 Date                                   Reason

 Shen
                  Director                    Be elected      August 3, 2022           By election of directors
 Chengfang
                  Executive Vice
                                              Appointment     May 16, 2022             Appoint Executive Vice President
                  President
 He Jin                                                                                Due to the vacancy of the CEO, Mr. He Jin,
                  Perform as CEO              Appointment     August 15, 2022          Executive Vice President, temporarily performs the
                                                                                       duties of CEO.
                  Vice President and
                                                                                       Appointment of Vice President and Chief Financial
                  Chief Financial             Appointment     May 16, 2022
                                                                                       Officer
                  Officer
 Wang                                                                                  Due to the vacancy of the
 Wenxin                                                                                secretary of board of directors, Ms. Wang Wenxin,
                  Perform as Secretary
                                              Appointment     July 8, 2022             Vice President and Chief Financial Officer,
                  of Board of Directors
                                                                                       temporarily performs the duties of
                                                                                       Secretary of Board of Directors.
 Zhang
                  Director                    Post leaving    June 28, 2022            Voluntary turnover
 Jinshun


                                                                       33
                                                                                                      CSG Semi-annual Report 2022


                 Director                  Post leaving    August 3, 2022      Be ousted
 Wang Jian
                 CEO                        Dismissed      August 15, 2022     Be ousted

                 Secretary of Board of
 Yang Xinyu                                 Dismissed      July 2, 2022        Voluntarily resigned
                 Directors


III.Profit distribution and conversion of capital reserves into equity capital in the report
period

□ Applicable √Not applicable
The Company has no plans of cash dividend distribution, bonus shares being sent or converting capital reserve into share capital.


IV. Implementation of the Company’s stock incentive plan, employee stock ownership plan or
other employee incentives

□ Applicable √Not applicable
During the report period, the Company had no equity incentive plan, employee stock ownership plan or other employee incentive
measures and their implementation.




                                                                 34
                                                                                                               CSG Semi-annual Report 2022




                            Section V. Environment and social responsibility

   I. Major environmental issues

   Whether the listed company and its subsidiaries belong to the key pollutant discharge units announced by the environmental
   protection department
   √ Yes □ No
   The Company needs to comply with the disclosure requirements of non-metal building materials related industries in "Shenzhen
   Stock Exchange Listed Companies Self-discipline Supervision Guide No. 3 - Industry Information Disclosure"
   Environmental protection related policies and industry standards
   The Company implements the "Environmental Protection Law of the People's Republic of China", "the Law of the People's Republic
   of China on the Prevention and Control of Air Pollution", the "Law of the People's Republic of China on the Prevention and Control
   of Water Pollution", the "Law of the People's Republic of China on the Prevention and Control of Noise Pollution", and the
   "Environmental Protection Tax Law of the People's Republic of China " and other relevant environmental protection laws and
   regulations, and implements the "Flat Glass Industry Air Pollutant Emission Standard", "Electronic Glass Working Air Pollutant
   Emission Standard", "Air Pollutant Comprehensive Emission Standard", "Sewage Comprehensive Emission Standard",
   "Environmental Noise Emission Standards at the Boundary of Industrial Enterprises" and other national, industry and local pollutant
   discharge standards.


   Administrative license for environmental protection
   The construction projects of each subsidiary carried out environmental impact assessment work and obtain EIA approval in strict
   accordance with the requirements of the "Environment Impact Assessment Law of the People's Republic of China" and the
   "Catalogue of Classified Management of Environmental Impact Assessment of Construction Projects". During the construction of the
   project, the construction of pollution prevention and control facilities shall be carried out in strict accordance with the requirements
   of the project "Three Simultaneous" and put into production and use at the same time as the main project. During the trial production
   period, the inspection and acceptance shall be organized in accordance with the relevant regulations on environmental protection
   acceptance of the completion of the construction project in order to ensure that the construction project completes the inspection and
   acceptance work before it is officially put into operation.
   All subsidiaries have obtained the pollutant discharge permit and are within the validity period, and regularly submit the
   implementation report of pollutant discharge permit.


   Industrial emission standards and specific conditions of pollutant emission involved in production and operation activities


                  Names of                                  Exhaust        Emission       Implementation   Total          Approved
                                                  Number                                                                                 Excessive
                  main
Name of                                                     vent           concentratio   of pollutant     emission       total
                  pollutants       Way of         of                                                                                     emissions
Company or                                                  distribution   n              emission                        emission
                  and              emission       Exhaust
subsidiary
                  characteristic                                                          standards
                                                  vent
                  pollutants

Xianning          Dust                                                     ≤30mg/m
                                   Continuous/              Production                    Emission         Particulates   Particulates
CSG                                                    16                                                                                  N/A
                                   Intermittent             plant area                    Standard         :9.34t        :96.82t/a
Glass      Co.,   Soot                                                     ≤25 mg/m




                                                                           35
                                                                                             CSG Semi-annual Report 2022


Ltd.                                                                   of Air
                  SO2                                     ≤200 mg/m                     109.84t        636.5t/a
                                                                       Pollutants for
                                                                       Flat Glass
                  NOx                                     ≤350 mg/m   Industry(GB26     198.67t        1113.89t/a
                                                                       453-2011)

                  Dust                                    ≤20mg/m     Emission
                                                                                         Particulates   Particulates
                                                                       Standard
                  Soot                                    ≤20mg/m                       :7.56t        :142.114t/a
Chengdu
CSG                                                                    of Air
                         Continuous/         Production
Glass      Co.,   SO2                   15                ≤200mg/m    Pollutants for    69.32t         1136.917t/a    N/A
                         Intermittent        plant area
Ltd                                                                    Flat Glass

                  NOx                                     ≤350mg/m    Industry(GB26     237.49t        1989.609t/a
                                                                       453-2011)

                  Dust                                    ≤10mg/m     Ultra Low
                                                                                         Particulates   Particulates
                                                                       Emission
                  Soot                                    ≤10mg/m                       :4.079t       :59.78t/a
Hebei CSG                                                              Standard of Air
                         Continuous/         Production
Glass      Co.,   SO2                   16                ≤50mg/m     Pollutants for    26.326t        498.18t/a      N/A
                         Intermittent        plant area
Ltd.                                                                   Flat Glass

                  NOx                                     ≤200mg/m    Industry(DB13/    116.839t       982.2t/a
                                                                       2168-2020)

                  Dust                                    ≤15mg/m     Emission
                                                                                         Particulates   Particulates
                                                                       Standard
                  Soot                                    ≤15mg/m                       :5.6t         :76.91t/a
Wujiang
CSG                                                                    of Air
                         Continuous/         Production
Glass      Co.,   SO2                   39                ≤50 mg/m    Pollutants for    11.12t         238.28t/a      N/A
                         Intermittent        plant area
Ltd                                                                    Flat Glass

                  NOx                                     ≤150 mg/m   Industry(GB26     136.07t        818.04t/a
                                                                       453-2011)

                  Dust                                    ≤20mg/m     Emission
                                                                                         Particulates   Particulates
                                                                       Standard of Air
Dongguan          Soot                                    ≤30mg/m                       :1.53t        :34.85t/a
CSG    Solar             Continuous/         Production                Pollutants for
Glass   Co.,                            22                                                                             N/A
                  SO2    Intermittent        plant area   ≤400 mg/m   Flat Glass        36.77t         300.99t/a
Ltd.
                                                                       Industry(DB
                  NOx                                     ≤550 mg/m                     69.79t         535.67t/a
                                                                       44-2159-2019)

                  Dust                                    ≤30mg/m     Pollutant
                                                                                         Particulates   Particulates
                                                                       Emission
                  Soot                                    ≤10 mg/m                      :0.071t       :8.2125t/a
Hebei Panel                                                            Standard for
                         Continuous/         Production
Glass Co.,        SO2                   5                 ≤50 mg/m    Electric Glass    0.894t         22t/a          N/A
                         Intermittent        plant area
Ltd.                                                                   Industry

                  NOx                                     ≤200mg/m    (GB29495-20      2.236t         39.4t/a
                                                                       13)

Xianning          Dust                                    ≤20mg/m     Pollutant         Particulates   Particulates
CSG
                         Continuous/         Production                Emission
                  Soot                  6                 ≤15 mg/m                      :0.8987t      :17.656t/a
Photovoltaic                                                                                                           N/A
                         Intermittent        plant area                Standard for
Glass      Co.,
                  SO2                                     ≤10 mg/m    Electric Glass    0.0255t        65.6t/a



                                                          36
                                                                                                      CSG Semi-annual Report 2022


Ltd                                                                             Industry

                  NOx                                              ≤330 mg/m   (GB29495-20       28.3474t    163.81t/a
                                                                                13)

                  pH                                               6~9          Guangdong                  /            /

Dongguan                                                                        Province Water
CSG               COD                                              5 mg/L                          3.348t      5.4t/a
                                                                                Pollutant
Architectural                                    Sewage
                             Intermittent   1                                   Emission                                     N/A
Glass      Co.,                                  vent
                  Ammonia                                                       Limit
Ltd.                                                               0.424mg/L                       0.0891t     0.196t/a
                  nitrogen                                                      (DB44/26-
                                                                                2001)

                  pH                                               6~9          Sewage                     /            /
                                                                                Integrated
                  COD                                              16mg/L                          1.19104t    500t/a
Tianjin CSG                                                                     Emission
Energy-Savin                                     Sewage                         Standards
                             Intermittent   2                                                                                N/A
g Glass Co.,                                     vent                           (Level 3
                  Ammonia
Ltd.                                                               0.178mg/L    Standard           0.01325t    45t/a
                  nitrogen
                                                                                DB12/356-2018
                                                                                )

                  pH                                               6~9          Sewage                     /            /
Wujiang                                                                         Integrated
                  COD                                              ≤500mg/L                          14.28t   40.59t/a
CSG East                                                                        Emission
China                                            Sewage                         Standards
                             Intermittent   1                                                                                N/A
Architectural                                    vent                           Level 3
                  Ammonia
Glass Co.,                                                         ≤45mg/L     Standard             0.0368t   0.1444t/a
                  nitrogen
Ltd.                                                                            (GB8978-
                                                                                1996)

                                                                                Guangdong
                                                                                Province Water
                                                                                Pollutant

                  COD                                              ≤70 mg/L    Emission           0.92t       2.44t/a

                                                                                Limit
                                                                                (DB44/26-

                                                 Sewage                         2001)
Dongguan
CSG
                                                 vent         ,                Pollutant
PV-tech Co.,                 Intermittent   20                                                                               N/A
                                                 Production                     Emission
Ltd.
                                                 plant area                     Standard for
                  NOx                                              ≤30mg/m3                       1.729t      33.15t/a
                                                                                Battery Industry

                                                                                (GB30484-20
                                                                                13)

                                                                                VOC Emission
                                                                   VOCs≤30mg
                  VOCs                                                          Standard for       0.76t       1.93t/a
                                                                   /m
                                                                                Furniture



                                                                   37
                                                                                                            CSG Semi-annual Report 2022


                                                                                          Manufacturing
                                                                                          Industry
                                                                                          (DB44/814-20
                                                                                          10)

               COD                                                            ≤70 mg/L   Sewage            22.74t    375.17t/a
                                                                                          Integrated
               pH                                                               6~9                           /           /
                                                                                          Emission
                                                                          ≤240mg/m3      Standards
               NOx                                                                                          0.423t    38.28t/a
                                                                                          Level 3

                                                       Sewage                             Standard
Yichang CSG
                                                       vent         ;                    (GB8978-
Display Co.,                  Intermittent      8                                                                                    N/A
                                                       Production                         1996)、The
Ltd.
                                                       plant area                         Integrated
                                                                          ≤240mg/m3
               Particulates                                                               Emission          4.299t    32.724t/a
                                                                                          Standard of Air
                                                                                          Pollutants

                                                                                          (GB16297-19
                                                                                          96)



   Treatment of pollutants
   All subsidiaries have built pollution prevention and control facilities in accordance with the environmental impact assessment
   documents of construction projects and relevant specifications, and adopted air pollution control process such as electrostatic
   precipitator + SCR denitrification + semi-dry desulfurization + bag dust removal, ceramic filter cartridge desulfurization,
   denitrification and dust removal integration, bag dust removal and water treatment process such as neutralization + precipitation,
   fluidized bed, and biological oxidation, for which the technologies used are all in line with the requirements of the "Guidelines for
   Feasible Technologies for Pollution Prevention and Control in Glass Manufacturing Industry" and other documents. In the first half
   of 2022, the pollution control facilities were in good operation and the pollutants were discharged stably up to the standard. The air
   pollutant emission concentrations of most of the subsidiaries were lower than 50% of the emission standard and enjoyed the
   preferential policy of halving environmental tax. The pollutant emissions of many subsidiaries reached and implemented local
   ultra-low emission standards.


   Environmental self-monitoring scheme
   The subsidiaries have built and operated on-line monitoring devices for waste water and exhaust gas in accordance with national laws
   and regulations, environmental impact assessment documents of construction projects and the requirements of their replies, regularly
   carried out comparison and review of the effectiveness of on-line monitoring facilities, and entrusted a third-party unit to carry out
   manual environmental monitoring to comprehensively monitor the pollutant discharge. The monitoring frequency is implemented in
   accordance with relevant monitoring technical guidelines or pollutant discharge permits.



   Emergency response plan system of environment incident
   In accordance with the national requirements, all subsidiaries prepared emergency environmental response plan for environment
   incident, organized and carried out expert evaluation and filed with the local environmental protection department as required, and
   conducted the emergency drill against environmental incidents as planned. And there were no major environmental incidents


                                                                         38
                                                                                                          CSG Semi-annual Report 2022


occurred in the first half of 2022.


Investment in environmental governance and protection and payment of environmental protection tax
CSG has always attached great importance to environmental protection work, actively fulfilled its social responsibilities, and adhered
to the development path of energy conservation, emission reduction, low carbon and environmental protection. To reduce the
generation of pollutants from the source, all glass kilns use natural gas as fuel, by which it is the first enterprise in glass industry to
use clean energy completely as fuel.
The subsidiaries have constructed pollution prevention and control facilities in accordance with the environmental impact assessment
documents of construction projects and relevant specifications, and put them into production and use at the same time as the main
works of the construction projects. In recent years, the Group has invested a lot of funds to improve the level of environmental
protection and pollution control. Since 2018, it has invested heavily in the construction of desulfurization facilities and backup
denitrification facilities every year, by which, the concentration and total amount of pollutant emissions have further dropped
significantly, many subsidiaries have reached and implemented local ultra-low emission standards (particulate matter ≤ 10mg/m3,
NOX ≤ 200mg/m3, SO2 ≤ 50mg/m3), and other subsidiaries' pollutant emissions have been far lower than the national emission
standards (particulate matter≤50mg/m3 , NOX≤700mg/m3, SO2≤400mg/m3).
Enterprises involved in directly discharging pollutants into the environment have declared and paid environmental taxes to the local
tax authorities in full and on time.


Measures taken to reduce carbon emissions during the report period and their effects
√ Applicable    □Not applicable
The Company has continuously strengthened the comprehensive utilization and management of resources and energy, actively
fulfilled the corporate social responsibility, taken various measures to save energy and reduce carbon emissions, making our own
contributions to the Country's goal of "Carbon peaking" and "Carbon neutrality". The Group's Operation Department The Group
Operation Department has specially established an energy management team, which is responsible for supervising the energy
consumption management of various subsidiaries, and promotes the energy consumption per unit product and carbon emission per
unit product of the Group's various products to reach the advanced level in the industry. At present, the energy consumption level of
most glass melting furnaces in the flat glass business of CSG has reached the advanced level stipulated by the national standard. At
the same time, CSG has always paid attention to the utilization of waste heat in flat glass factories, and each production base has built
waste heat boilers and waste heat power plants; CSG is also actively developing photovoltaic power plants, most of which have
photovoltaic power plants on the roofs of factories. In the first half of 2022, the Group's waste heat power generation and
photovoltaic power generation totaled about 180 million kwh, equivalent to reducing carbon dioxide emissions by more than 100,000
tons.


Administrative penalty imposed by environmental protection department
Nil


Other environmental information that should be disclosed
Nil


Environmental incidents in the listed company
In the first half of 2022, no environmental accidents occurred.




                                                                   39
                                                                                                           CSG Semi-annual Report 2022


II. Social responsibility

In the first half of 2022, the Company focused on the following tasks in fulfilling its social responsibilities:
1. Prevent and eliminate occupational hazards and protect employees' health
CSG always adheres to the concept of "Safety First, Environmental Protection First and Green Development", establishes Safety and
Environmental Protection Department to coordinate the safety and environmental protection management, establishes the Group's
three-level control system of safety, environmental protection, fire protection and occupational health, has a complete safety
management structure and safety management system, strictly implements the safety production responsibility system of all
employees, and all employees have signed the safety production responsibility statement.
The Company attaches great importance to the safety training of employees, strictly strengthens the three-level safety education and
training of new employees and the continuing education of old employees, and organizes various special trainings according to the
characteristics of employees' posts to improve their safety literacy and safety skills. The management of special equipment and
special operations shall be strictly carried out, and special operators shall work with certificates. Special operations can only be
carried out after approval and confirmation of safety measures.Regularly carry out emergency drills, strengthen the construction of
emergency response capabilities, improve emergency response capabilities, eliminate hidden dangers in the bud, and resolutely
defend the last line of defense. Each subsidiary has established a system for the extraction and use of production safety expenses,
which is strictly in accordance with the requirements of relevant laws and regulations to extract and standardize the use of production
safety expenses.The Company has also carried out various hidden dangers investigation of the headquarters and subsidiaries,
accepted the supervision and inspection of local emergency management departments, and organized the rectification and
improvement of various hidden dangers.
In addition, the Company attaches great importance to the standardization construction and operation of safety management. As of
the end of June 2022, CSG has obtained safety standardization certificates for 18 subsidiaries, of which 6 subsidiaries have reached
the second level of safety production standardization, 12 subsidiaries have reached the third level of safety production standardization,
and a few other subsidiaries are also actively creating and applying.
2. Protect the environment and promote sustainable development
As of the first half of 2022, 6 subsidiaries of CSG have been rated as national-level "Green Factories". The Company continues to
strengthen the comprehensive utilization and management of resources and energy, takes various measures to save energy, reduce
emissions and reduce carbon, and makes contributions to the Country's goal of "Carbon peaking" and "Carbon neutrality".The
Group's Operation Department The Group Operation Department has specially established an energy management team, which is
responsible for supervising the energy consumption management of various subsidiaries, and promotes the energy consumption per
unit product and carbon emission per unit product of the Group's various products to reach the advanced level in the industry. At
present, the energy consumption level of most glass melting furnaces in the flat glass business of CSG has reached the advanced level
stipulated by the national standard. Wujiang CSG is shared and promoted by the energy conservation and Comprehensive Utilization
Department of the Ministry of industry and information technology as the "Leader" of energy efficiency in the key energy
consumption industry. Hebei CSG is designated by the Ministry of industry and information technology as the advanced benchmark
"Test Field" of Carbon Peak. At the same time, CSG has always paid attention to the utilization of waste heat in flat glass factories,
and each production base has built waste heat boilers and waste heat power plants; CSG is also actively developing photovoltaic
power plants, most of which have photovoltaic power plants on the roofs of factories. In the first half of 2022, the Group's waste heat
power generation and photovoltaic power generation totaled about 180 million kWh, equivalent to reducing carbon dioxide emissions
by more than 100,000 tons.
In the first half of 2022, all subsidiaries built pollution prevention and control facilities in accordance with the environmental impact
assessment documents of construction projects and relevant specifications. The pollution control facilities were in good operation and
the pollutants were discharged stably up to the standard. The air pollutant emission concentrations of most of the subsidiaries were
lower than 50% of the emission standard and enjoyed the preferential policy of halving environmental tax. The pollutant emissions of

                                                                    40
                                                                                                           CSG Semi-annual Report 2022


many subsidiaries reached and implemented local ultra-low emission standards. Meanwhile, the subsidiaries built and operated
on-line monitoring devices for waste water and exhaust gas in accordance with national laws and regulations, environmental impact
assessment documents of construction projects and the requirements of their replies, regularly carried out comparison and review of
the effectiveness of on-line monitoring facilities, and entrusted a third-party unit to carry out manual environmental monitoring to
comprehensively monitor the pollutant discharge. The monitoring frequency was implemented in accordance with relevant
monitoring technical guidelines or pollutant discharge permits. In addition, in accordance with the national requirements, all
subsidiaries prepared emergency environmental response plan for environment incident, organized and carried out expert evaluation
and filed with the local environmental protection department as required, and conducted the emergency drill against environmental
incidents as planned. And there were no major environmental incidents occurred in the first half of 2022.
3. Participate in public welfare undertakings and fulfill social responsibilities
The Company actively participates in social welfare activities, organizes employees to voluntarily participate in voluntary blood
donation, supports community epidemic prevention and anti-epidemic work, etc., and fulfills corporate social responsibility. In the
first half of 2022, the Company donated funds and materials to various sectors of the society for charity and public welfare activities
such as support and care for the elderly in villages and towns and epidemic prevention.
4. Adhere to independent research and development to provide better energy-saving products
The Company has always adhered to the business strategy of independent research and development and innovation leading. In the
first half of 2022, the Company submitted 76 patent applications and obtained 188 new patent authorizations, including 34 invention
patent authorizations. As of June 30, 2022, the Company had applied for a total of 2,470 patents, including 993 inventions, 1,468
utility model patents, and 9 designs; a total of 1,811 authorized patents, including 337 inventions, 1,465 utility models, and 9 designs.
gathering the wisdom of CSG’s people to improve the industrial science and technology.
5. Protect the rights and interests of shareholders and creditors
The Company ensured the steady development of its main business and improved overall operating performance. In the first half of
2022, the Company achieved operating income of RMB 6.519 billion, a year-on-year decrease of 1.45%; realized net profit of RMB
1.009 billion, a year-on-year decrease of 26.33%; net profit attributable to shareholders of listed companies was RMB 1.001 billion, a
year-on-year decrease of 25.98%. The Company's equity distribution of 2021 had been completed, and the actual cash dividend
amount (including tax) was RMB 614,138,421, accounting for 40.16% of the net profit attributable to shareholders of listed company
in 2021, with continuing return to shareholders. In terms of creditor protection, the Company implemented a prudent financial policy,
and all due loans were repaid on time, which protected the legitimate rights and interests of creditors.
6. Strengthen welfare security and protect the legitimate rights and interests of employees
The Company insists on standardizing the employment behavior, strictly implements the national and local social security
mechanism, and purchases five insurances and one fund and other comprehensive welfare insurance for employees; it has a fair and
unimpeded post promotion system and broaden the development channels of employees; it establishes and implements a statutory
leave system for employees, and employees enjoy various statutory holidays and other paid holidays stipulated by the state; it
actively organizes various employee cultural and sports activities, and employees also enjoy benefits such as employee canteens,
employee physical examinations, subsidies and other benefits. It strengthens occupational health monitoring and management to
ensure the physical and mental health of employees; it cares for employees in need. In the first half of 2022, the Company provided
assistance of RMB 302,600 to 11 employees and their families for helping them overcome difficulties .
7. Social honor recognition

While giving back to the society through steady operation, CSG and its products have been recognized by by all sectors of the society.
Since its establishment 38 years ago, the Company's products have been widely used in many major and important venues, such as
the "Ice Ribbon", "Shougang Ski Jumping Platform", "Snow Ruyi" and other Beijing Winter Olympic venues that will astonish the
world in 2022; CSG’s low radiation coated glass and ultra-thin electronic glass were recognized as "Single Champion Products of
Manufacturing Industry" by the Ministry of Industry and Information Technology of the People's Republic of China; the Company

                                                                     41
                                                                                                  CSG Semi-annual Report 2022


has been listed on the list of "Top 100 Industry Leaders in Shenzhen" and "Preferred Brand of Architectural Glass" in Door and
Window Curtain Wall Industry, Annual Outstanding Enterprise in Touch Display Industry, Well-known Brand in Shenzhen, etc., and
it has won the honors of "Leading Enterprise in Promoting High-quality Development" and "Consumer Favorite Brand", etc.




                                                              42
                                                                                                        CSG Semi-annual Report 2022




                                        Section VI. Important Events

I. Commitments completed by the actual controllers, the shareholders, the related parties, the
purchasers and the Company during the report period and those that hadn’t been completed
execution by the end of the report period

□Applicable       √Not applicable
During the report period, there were no commitments made by the Company's actual controller, shareholders, related parties,
acquirers, the Company and other relevant parties that had been fulfilled within the report period and had not been fulfilled within the
time limit by the end of the report period.


II.Particulars about non-operating fund of listed company occupied by controlling
shareholder and other related parties

□Applicable       √Not applicable
During the report period, there was no any non-operating fund of listed company occupied by controlling shareholder and other
related parties.


III. Illegal external guarantee

□Applicable       √Not applicable
During the report period, there was no illegal external guarantee.


IV. Engaging and dismissing of accounting firm

Whether the semi-annual report has been audited or not
□ Yes    √ No
The semi-annual report of the Company has not been audited.


V. Explanation from Board of Directors and Supervisory Committee for “Non-standard audit
report” of the period that issued by accounting firm

□ Applicable √ Not applicable


VI. Explanation from Board of Directors for “Non-standard audit report” of the previous
year

□ Applicable √ Not applicable


VII. Issues related to bankruptcy and reorganization

□ Applicable √ Not applicable



                                                                     43
                                                                                                       CSG Semi-annual Report 2022


VIII. Lawsuits

Significant lawsuits and arbitrations
□ Applicable √ Not applicable
During the report period, the Company had no significant lawsuits and arbitrations
Other lawsuits
□ Applicable √ Not applicable


IX. Penalty and rectification

□ Applicable √ Not applicable


X. Integrity of the Company and its controlling shareholders and actual controllers

√Applicable □ Not applicable
The Company has no controlling shareholder and actual controller. According to the disclosure requirements, the Company's largest
shareholder Foresea Life Insurance Co., Ltd., shareholder Zhongshan Runtian Investment Co., Ltd. and shareholder Chengtai Group
Co., Ltd. should disclose the corresponding information. The details are as follows:
(Ⅰ)Integrity of the Company
During the report period, It did not exist that the Company failed to perform the effective judgment of the court or owed
comparatively large amount of debt which was overdue. The Company's integrity is good.
(ⅠⅠ)The integrity of the Company's shareholders
1. According to the reply of the Company's largest shareholder, Foresea Life Insurance Co., Ltd.: As of June 30, 2022, it did not exist
that Foresea Life Insurance Co., Ltd. failed to perform the effective judgment of the court or owed comparatively large amount of
debt which was overdue.
2. According to the reply of the shareholder Zhongshan Runtian Investment Co., Ltd., the original content is as follows:
As of June 30, 2022, the cases executed by Zhongshan Runtian Investment Co., Ltd. (hereinafter referred to as "Zhongshan Runtian")
are as follows:
(1)Due to the case of execution of notarized creditor's rights documents between Great Wall Guoxing Financial Leasing Co., Ltd. and
16 companies including Shenzhen Shum Yip Logistics Group Co., Ltd., Shenzhen Baoneng Investment Group Co., Ltd., Baoneng
Real Estate Co., Ltd. and Zhongshan Runtian Investment Co., Ltd., Great Wall Guoxing Financial Leasing Co., Ltd. applied to the
court for compulsory execution. As the guarantor of the debt of RMB 164 million, Zhongshan Runtian shall be jointly and severally
liable for the debt, and its 5.57 million shares of Jonjee High-tech are used as collateral. At present, Great Wall Guoxing Financial
Leasing Co., Ltd. has applied for compulsory execution and has frozen 5.57 million shares of Jonjee High-tech.
(2)Due to the case of notarizing creditor's rights documents between Chongqing Xinyu Financial Leasing Co., Ltd. and the
defendants Shenzhen Baoneng Investment Group Co., Ltd., Shenzhen Baoneng Automobile Co., Ltd., and Zhongshan Runtian,
Chongqing Xinyu Financial Leasing Co., Ltd. applied to the court for compulsory execution. As the guarantor of the bond of RMB
260 million , Zhongshan Runtian used its 67.65 million CSG A shares as collateral.
(3) Due to the case of notarizing creditor's rights documents between Guangdong Finance Trust Co., Ltd. and Zhongshan Runtian,
Shenzhen Jushenghua Co., Ltd., Shenzhen Baoneng Investment Group Co., Ltd., Baoneng Holdings (China) Co., Ltd., and Mr. Yao
Zhenhua, Yuecai Trust applied to the court for compulsory execution. As the direct borrower of the debt of 720 million yuan,
Zhongshan Runtian used its 26.55 million shares of Jonjee High-tech as collateral. At present, the stock has been frozen and waiting
to be frozen by Guangdong Yuecai Trust Co., Ltd. As of June 30, 2022, Zhongshan Runtian's shares in Jonjee High-tech are still

                                                                  44
                                                                                                        CSG Semi-annual Report 2022


being passively reduced.
(4) Due to the dispute over the loan contract between AVIC Trust Co., Ltd. and Zhongshan Runtian Finance, Zhongshan Runtian, as
the borrower of the debt principal of 1.05 billion yuan, Hefei Baohui Real Estate Co., Ltd. and Hefei Baoneng Real Estate
Development Co., Ltd. The company, Shenzhen Jushenghua Co., Ltd., Shenzhen Shum Yip Logistics Group Co., Ltd., Shenzhen
Baoneng Investment Group Co., Ltd., Chia Tai (Shenzhen) Development Co., Ltd. and Mr. Yao Zhenhua are jointly and severally
liable for the debt.
(5) Due to the case of execution of notarized creditor's rights documents between Chongqing International Trust Co., Ltd. and
Shenzhen Jushenghua Co., Ltd., Zhongshan Runtian, Shenzhen Baoneng Investment Group Co., Ltd. and Mr. Yao Zhenhua, the court
ruled to seal up and freeze the property of RMB 541 million of Jushenghua, Baoneng Group and Yao Zhenhua, and to freeze the 22
million shares of Jonjee High-tech pledged by Zhongshan Runtian to Chongqing Trust. At present, Chongqing Trust has applied for
compulsory execution and has frozen 22 million shares of Jonjee High-tech.
As of June 30, 2022, the details of Zhongshan Runtian's comparatively large amount of debt which was overdue are as follows:

   Serial                                 Financial       Loan amount    Credit                 Start date of      Maturity date of
                       Borrower
  number                                 institution      (RMB 0,000)    enhancement plan       loan                    loan

               Zhongshan Runtian           Essence
      1                                                    32,923.86     Guarantee+ Pledge         2018/12/27        2021/12/26
               Investment Co., Ltd.       Securities

               Zhongshan Runtian
      2                                  AVIC Trust        105,000.00    Guarantee+ Pledge             2019/9/25     2021/10/31
               Investment Co., Ltd.

               Zhongshan Runtian
      3                                 Xie Moumou         114,975.00    Guarantee                     2021/3/15     2021/12/31
               Investment Co., Ltd.

               Zhongshan Runtian         Guangdong
      4                                                    55,448.61     Guarantee+ Pledge              2021/1/8      2022/1/7
               Investment Co., Ltd.     Finance Trust

    Total                                                  308,347.47



As of June 30, 2022, Mr. Yao Zhenhua's personal execution cases are as follows:
(1)Due to the case of disputes over notarized creditor's rights documents between Ping An Trust Co., Ltd. and Shaoxing Baorui Real
Estate Co., Ltd., Baoneng City Co., Ltd., Shenzhen Baoneng Investment Group Co., Ltd., Baoneng Real Estate Co., Ltd., Shanghai
Kaiyue Investment Co., Ltd. and Mr. Yao Zhenhua notarized creditor's rights, which was applied for compulsory execution by Ping
An Trust, Mr. Yao Zhenhua was jointly and severally liable for the principal and interest of the debt of RMB 420 million.
(2) Due to the trust loan dispute between the National Trust and Shenzhen Xinao Trading Co., Ltd., Shenzhen Baoneng Investment
Group Co., Ltd., Mr. Yao Zhenhua and others signed relevant guarantee contracts, ordering Shenzhen Xinao Trading Co., Ltd. to
repay the loan principal of 290 million Yuan and related interests and litigation costs, Shenzhen Baoneng Investment Group Co., Ltd.,
Mr. Yao Zhenhua, etc.was jointly and severally liable for the debts.
(3) Due to the financial borrowing of Zhongrong International Trust Co., Ltd. and Baoneng Automobile Co., Ltd., it applied to the
Beijing Third Intermediate People's Court for notarization on the matter for compulsory execution. Since Mr. Yao Zhenhua provided
a guarantee for this loan business and signed the relevant notarized documents, he was jointly and severally liable for the debt of
1.048 billion yuan.
(4) As Kunlun Trust Co., Ltd. applied to the court for compulsory execution of the notarized creditor's rights documents with Shum
Yip Logistics Group Co., Ltd., Baoneng Century Co., Ltd., Chia Tai (Shenzhen) Development Co., Ltd., Shenzhen Baoneng
Investment Group Co., Ltd., Baoneng Holdings (China) Co., Ltd., Mr. Yao Zhenhua, Mr. Yao Zhenhua assumed joint and several
guarantee liabilities for the debt of RMB 1.31 billion.


                                                                  45
                                                                                                     CSG Semi-annual Report 2022


(5)Due to the case of notarizing creditor's rights documents between Guangzhou Xinhua City Development Industry Investment
Enterprise (Limited Partnership) and the defendants Shenzhen Baoneng Investment Group Co., Ltd., Shenzhen Jushenghua Co., Ltd.
and Mr. Yao Zhenhua, Mr. Yao Zhenhua, as the guarantor, signed the relevant notarial documents and assumed joint and several
liabilities for the principal and interest of the creditor's rights of RMB 600 million.
(6) Due to the dispute over the loan contract between Xiamen International Bank Co., Ltd. Fuzhou Branch and Shenzhen Jushenghua
Co., Ltd., Xiamen International Bank Co., Ltd. Fuzhou Branch, which was applied to Shenzhen Intermediate People's Court for
compulsory execution, Mr. Yao Zhenhua, as the guarantor of the loan principal of RMB 2.16 billion, signed the corresponding
guarantee contract and assumed joint and several liabilities for the debt.
(7)Due to the financial debt dispute between Guangdong Finance Trust Co., Ltd. and Zhongshan Runtian , Guangdong Finance Trust
Co., Ltd., which was applied to Shenzhen Intermediate People's Court for compulsory execution, Mr. Yao Zhenhua, as the guarantor
of the loan, signed the corresponding "Guarantee Contract" and was jointly and severally liable for the debt of RMB 720 million.
(8) Due to the financial debt dispute between China Railway Trust Co., Ltd. and Baoneng Automobile Group Co., Ltd. and Kunming
Baojun Real Estate Co., Ltd., which was applied to Chengdu Intermediate People's Court of Sichuan Province for compulsory
execution, as the guarantor of the loan, Mr. Yao Zhenhua signed the The corresponding "Guarantee Contract" and was jointly and
severally liable for the debt of RMB 2.063 billion.
(9) Due to the financial debt dispute between China Railway Trust Co., Ltd. and Baoneng Automobile Group Co., Ltd. and Kunming
Jianpeng Real Estate Development Co., Ltd., which was applied to Chengdu Intermediate People's Court of Sichuan Province for
compulsory execution, Mr. Yao Zhenhua, as the guarantor of the loan, The corresponding "Guarantee Contract" and was jointly and
severally liable for the debt of RMB 836 million.
(10) Due to the case of notarizing creditor's rights documents between Changan International Trust Co., Ltd. and Shenzhen Baoneng
Investment Group Co., Ltd., Wuxi Baoneng Real Estate Co., Ltd., Baoneng Holdings (China) Co., Ltd., Shenzhen Jushenghua Co.,
Ltd., and Mr. Yao Zhenhua, which was applied for compulsory execution by Changan Trust, Mr. Yao Zhenhua, as the guarantor of the
debt, was jointly and severally liable for the debt of RMB 925 million.
(11)Due to the case of notarizing creditor's rights documents between Changan International Trust Co., Ltd. and Shenzhen Baoneng
Investment Group Co., Ltd., Wuxi Baoneng Real Estate Co., Ltd., Baoneng Holdings (China) Co., Ltd., Shenzhen Jushenghua Co.,
Ltd., and Mr. Yao Zhenhua, which was applied for compulsory execution by Changan Trust, Mr. Yao Zhenhua, as the guarantor of the
debt, was jointly and severally liable for the debt of RMB1.117 billion.
(12) Due to the case of notarizing creditor's rights documents between China Minsheng Trust Co., Ltd. and the executors Shenzhen
Baoneng Investment Group Co., Ltd., Hefei Baohui Real Estate Co., Ltd., Shenzhen Baoneng Enterprise Management Co., Ltd.,
Anhui Baoneng Land Co., Ltd., and Mr. Yao Zhenhua, Minsheng Trust applied for compulsory execution. As the guarantor of the
debt, Mr. Yao Zhenhua was jointly and severally liable for the debt of RMB 4.207 billion.
(13)Due to the case of notarizing creditor's rights documents between Shanghai Aijian Trust Co., Ltd. and Shenzhen Shum Yip
Logistics Group Co., Ltd., Shenzhen Baoneng Investment Group Co., Ltd., Zhengda (Shenzhen) Development Co., Ltd., Hefei
Baohui Real Estate Co., Ltd., Hefei Baoneng Real Estate Development Co., Ltd., Shenzhen Jushenghua Co., Ltd., and Mr. Yao
Zhenhua, Aijian Trust applied to the court for compulsory execution. As the guarantor of the debt, Mr. Yao Zhenhua was jointly and
severally liable for the debt of RMB 417 million.
(14) Due to the dispute over the loan contract between Chongqing International Trust Co., Ltd. and Baoneng Automobile Group Co.,
Ltd., Chongqing International Trust applied to the court for compulsory execution, and Mr. Yao Zhenhua, as the guarantor of the debt,
was jointly and severally liable for the debt of RMB 2.186 billion.
(15)Due to the case of notarizing creditor's rights documents between China Minsheng Trust Co., Ltd. and Shenzhen Shum Yip
Logistics Group Co., Ltd., Shenzhen Baoneng Investment Group Co., Ltd., Shenzhen Jushenghua Co., Ltd., and Mr. Yao Zhenhua,
Minsheng Trust applied to the court for compulsory execution, and Mr. Yao Zhenhua, as the guarantor of the debt, was jointly and
severally liable for the debt of RMB 496 million.


                                                                     46
                                                                                                       CSG Semi-annual Report 2022


(16)Due to the case of China Minsheng Trust Co., Ltd., Shenzhen Shum Yip Logistics Group Co., Ltd., Shenzhen Baoneng
Investment Group Co., Ltd., Shenzhen Jushenghua Co., Ltd. and Mr. Yao Zhenhua, which was applied to the court for compulsory
execution by Minsheng Trust, Mr. Yao Zhenhua, as the guarantor of the debt, was jointly and severally liable for the debt of RMB
2.238 billion.
(17) Due to the financial loan contract dispute between AVIC Trust Co., Ltd. and Shenzhen Lingdao Auto Life Service Co., Ltd.,
Shenzhen Baoneng Investment Group Co., Ltd., Shenzhen Jushenghua Co., Ltd.,Shenzhen Shum Yip Logistics Group Co., Ltd.,
Tengchong Baoneng Real Estate Co., Ltd., Zhejiang Jintian Real Estate Development Co., Ltd., Tengchong Beihai Wetland
Ecotourism Investment Co., Ltd., Mr. Yao Zhenhua, AVIC Trust applied to the court for compulsory execution, and Mr. Yao Zhenhua,
as the guarantor of the debt, was jointly and severally liable for the debt of RMB 984 million.
(18) Due to the financial loan contract dispute between AVIC Trust Co., Ltd. and Shenzhen Shum Yip Logistics Group Co., Ltd.,
Shenzhen Baoneng Investment Group Co., Ltd., Shenzhen Jushenghua Co., Ltd., Baoneng Real Estate Co., Ltd., and Wuhu Baoneng
Real Estate Co., Ltd. The company, Baoneng City Co., Ltd., Tengchong Beihai Wetland Eco-tourism Investment Co., Ltd., Mr. Yao
Zhenhua, which was applied to the court by AVIC Trust for enforcement, Mr. Yao Zhenhua, as the guarantor of the debt, was jointly
and severally liable for the debt of RMB 563 million.
(19) Due to the loan contract dispute between Ping An Bank Co., Ltd. Shenzhen Branch and Shenzhen Shum Yip Logistics Group
Co., Ltd., Shenzhen Jushenghua Co., Ltd., Shenzhen Baoneng Investment Group Co., Ltd., Baoneng Real Estate Co., Ltd., Shenzhen
First Space Operation Management Co., Ltd., Mr. Yao Zhenhua and Baoneng City Co., Ltd., which was applied to the court by
Shenzhen Branch of Ping An Bank Co., Ltd. for execution, Mr. Yao Zhenhua, as the guarantor of the debt, was jointly and severally
liable for the debt of RMB 3.433 billion.
(20) Due to the execution of litigation costs of the loan contract dispute between Shenzhen Branch of Ping An Bank Co., Ltd. and
Baoneng City Co., Ltd., Baoneng Real Estate Co., Ltd., Baoneng Holdings (China) Co., Ltd., Mr. Yao Zhenhua and Shenzhen Liujin
Investment Co., Ltd., the Higher People's Court of Guangdong Province appointed Shenzhen Intermediate People's Court of
Guangdong Province to execute the case. Mr. Yao Zhenhua, as the guarantor of the loan contract dispute, was jointly and severally
liable for the litigation costs of RMB 13.9208 million arising from the loan contract dispute.
(21) due to the loan contract dispute between Shenzhen Branch of Ping An Bank Co., Ltd. and Baoneng City Co., Ltd., Baoneng Real
Estate Co., Ltd., Baoneng Holdings (China) Co., Ltd., Mr. Yao Zhenhua and Shenzhen Liujin Investment Co., Ltd., Shenzhen Branch
of Ping An Bank Co., Ltd. applied to the court for execution. Mr. Yao Zhenhua, as the guarantor of the debt, was jointly and severally
liable for the debt of RMB 5.562 billion.
(22)Due to the case of execution of notarized creditor's rights documents between Chongqing International Trust Co., Ltd. and
Shenzhen Jushenghua Co., Ltd., Zhongshan Runtian, Shenzhen Baoneng Investment Group Co., Ltd., and Mr. Yao Zhenhua,
Chongqing International Trust Co., Ltd. which was applied to the court by Chongqing International Trust Co., Ltd. for execution, and
Mr. Yao Zhenhua, as the guarantor of the debt, was jointly and severally liable for the debt of RMB 541 million.
(23) Due to the case of Tibet Bank Co., Ltd. v. Lhasa Baochuang Automobile Sales Co., Ltd., Mr. Yao Zhenhua, Shenzhen Baoneng
Investment Group Co., Ltd., Shenzhen Jushenghua Co., Ltd., and Shenzhen Shumye Logistics Group Co., Ltd. was jointly and
severally liable for the litigation fee of the loan contract dispute, which was executed by the Lhasa Intermediate People's Court of the
Tibet Autonomous Region, Mr. Yao Zhenhua, as the guarantor of the loan contract dispute, was jointly and severally liable for the
litigation costs of RMB 4.1867 million arising from the loan contract dispute.
(24) Due to the case that Bank of Tibet Co., Ltd. sued Lhasa baochuang Automobile Sales Co., Ltd., Mr. Yao Zhenhua, Shenzhen
Baoneng Investment Group Co., Ltd., Shenzhen Jushenghua Co., Ltd. and Shenzhen Shenye Logistics Group Co., Ltd. were jointly
and severally liable for the debts arising from the loan contract dispute and were executed by Lhasa Intermediate People's Court of
Tibet Autonomous Region. Mr. Yao Zhenhua, as the guarantor of the loan contract dispute, was jointly and severally liable for the
litigation costs of RMB 829 million arising from the loan contract dispute, which has been paid off.
(25) Due to the case that Chongqing International Trust Co., Ltd. sued Baoneng Automobile Group Co., Ltd., Nanjing Baoneng


                                                                  47
                                                                                                     CSG Semi-annual Report 2022


Urban Development Co., Ltd., Shenzhen Baoneng Investment Group Co., Ltd., Baoneng Holdings (China) Co., Ltd., and Yao
Zhenhua, as the guarantor of the debt, Mr.Yao Zhenhua was executed by the Chongqing No. 5 Intermediate People's Court, and he
was jointly and severally liable for the debt of RMB 2.121 billion.
Mr. Yao Zhenhua had no debt with comparatively amount that had not been paid when due.
3. According to the reply of the shareholder Chengtai Group Co., Ltd.: as of June 30, Chengtai Group Co., Ltd. had not received
relevant information on share freezing and litigation, and it had no debt with comparatively amount that had not been paid when due.


XI. Major related transaction

1. Related transaction with routine operation concerned

□ Applicable √ Not applicable


2. Related transaction with acquisition of assets or equity, sales of assets or equity concerned

□ Applicable √ Not applicable


3. Related transaction with jointly external investment concerned

□ Applicable √ Not applicable


4. Credits and liabilities with related parties

□ Applicable √ Not applicable


5. Transactions with related financial companies

□ Applicable √ Not applicable


6. Transactions with financial companies controlled by the company

□ Applicable √ Not applicable


7. Other major related transaction

□ Applicable √ Not applicable


XII. Significant contracts and their implementation

1. Trusteeship, contract and leasing

(1) Trusteeship

□ Applicable   √ Not applicable



                                                                  48
                                                                                                                      CSG Semi-annual Report 2022


  (2) Contract

  □ Applicable     √ Not applicable


  (3) Leasing

  □ Applicable     √ Not applicable


  2. Major guarantees

  √Applicable □ Not applicable
                                                                                                                                    Unit: RMB 0,000

                             External guarantee of the Company and its subsidiaries(barring the guarantee for subsidiaries)

                                                                                                                                                Guaran
                                                   Actual date                                             Counter-                   Complet
                                                                                                                                      e         tee for
Name of       the   Related                        of happening      Actual                   Collatera    Warranties
                                      Guarantee                                  Guarantee                                Guarant               related
Company             Announcement                   (Date      of     guarante                 l            circumsta                  impleme
                                      limit                                      type                                     ee term               party
guaranteed          disclosure date                signing           e limit                  (if any)     nce                        ntation
                                                                                                                                                (Yes or
                                                   agreement)                                              (if any)                   or not
                                                                                                                                                no)

Total amount of approving external guarantee in                                  Total amount of actual occurred external
                                                                            0                                                                          0
report period (A1)                                                               guarantee in report period (A2)

Total amount of approved external guarantee at                                   Total balance of actual external guarantee
                                                                            0                                                                          0
the end of report period (A3)                                                    at the end of report period (A4)

                                                    Guarantee of the Company for the subsidiaries

                                                                                                           Counter-                             Guaran
                                                   Actual date                                                                        Complet
                                                                                                           Warranties                 e         tee for
Name of the         Related                        of happening      Actual                   Collatera
                                      Guarantee                                  Guarantee                                Guarant               related
Company             Announcement                   (Date of          guarante                 l            circumsta                  impleme
                                      limit                                      type                                     ee term               party
guaranteed          disclosure date                signing           e limit                  (if any)     nce                        ntation
                                                                                                                                                (Yes or
                                                   agreement)                                              (if any)                   or not
                                                                                                                                                no)

Xianning CSG                                                                     Joint
Photovoltaic             2022/4/25        6,000        2022/5/26        2,490    liability      None          None         1 year        No       No
Glass Co., Ltd.                                                                  guarantee

Xianning CSG                                                                     Joint
Photovoltaic           2020/12/19         5,000        2021/3/22        1,500    liability      None          None         1 year        No       No
Glass Co., Ltd.                                                                  guarantee

Xianning CSG                                                                     Joint
Energy-Saving            2022/4/25        5,000        2022/5/27        2,000    liability      None          None         1 year        No       No
Glass Co., Ltd.                                                                  guarantee

Xianning CSG                                                                     Joint
Energy-Saving            2022/4/25        5,000        2022/5/25        2,500    liability      None          None         1 year        No       No
Glass Co., Ltd.                                                                  guarantee

Yichang Nanbo                                                                    Joint
Photoelectric            2021/2/19        1,824        2021/3/19        1,200    liability      None          None         1 year        No       No
Glass Co., Ltd.                                                                  guarantee

Yichang Nanbo                                                                    Joint
Photoelectric            2021/8/10        1,824       2021/12/17                 liability      None          None         1 year        No       No
Glass Co., Ltd.                                                                  guarantee

                                                                                 Joint
Dongguan CSG             2021/8/10        3,000       2021/11/29        3,000                   None          None         1 year        No       No
                                                                                 liability

                                                                          49
                                                                                          CSG Semi-annual Report 2022


PV-tech Co., Ltd.                                               guarantee

                                                                Joint
Dongguan CSG
                     2021/8/10   10,000    2021/8/13     923    liability   None   None        1 year    No       No
PV-tech Co., Ltd.
                                                                guarantee

                                                                Joint
Hebei Panel
                     2021/2/19    3,000                         liability   None   None        1 year    Yes      No
Glass Co., Ltd.
                                                                guarantee

                                                                Joint
Hebei Panel
                     2022/4/25    2,500    2022/5/16            liability   None   None       3 years    No       No
Glass Co., Ltd.
                                                                guarantee

                                                                Joint
Hebei Panel
                    2021/10/30   16,500   2021/12/17    6,210   liability   None   None       5 years    No       No
Glass Co., Ltd.
                                                                guarantee

                                                                Joint
Hebei CSG Glass
                     2021/2/19    5,000                         liability   None   None        1 year    Yes      No
Co., Ltd.
                                                                guarantee

                                                                Joint
Hebei CSG Glass
                     2022/4/25    2,500    2022/5/16            liability   None   None       3 years    No       No
Co., Ltd.
                                                                guarantee

Dongguan CSG                                                    Joint
Architectural        2021/6/29    5,000    2021/9/13    4,800   liability   None   None       2 years    No       No
Glass Co., Ltd.                                                 guarantee

Dongguan CSG                                                    Joint
Architectural        2022/4/25   10,000    2022/5/17            liability   None   None        1 year    No       No
Glass Co., Ltd.                                                 guarantee

Dongguan CSG                                                    Joint
Architectural       2021/10/30   10,000    2021/5/18    1,631   liability   None   None        1 year    Yes      No
Glass Co., Ltd.                                                 guarantee

                                                                Joint
Xianning CSG
                     2022/4/25    7,000    2022/5/27    6,500   liability   None   None        1 year    No       No
Glass Co., Ltd.
                                                                guarantee

                                                                Joint
Xianning CSG
                    2021/12/25   15,000     2022/3/1            liability   None   None       7 years    No       No
Glass Co., Ltd.
                                                                guarantee

                                                                Joint
Xianning CSG
                    2021/12/25   50,000     2022/3/9   12,711   liability   None   None       7 years    No       No
Glass Co., Ltd.
                                                                guarantee

                                                                Joint
Xianning CSG
                     2021/6/29   20,000     2021/7/7   18,689   liability   None   None       5 years    No       No
Glass Co., Ltd.
                                                                guarantee

                                                                Joint
Chengdu CSG
                    2021/12/25    5,000    2022/2/17    4,500   liability   None   None        1 year    No       No
Glass Co., Ltd.
                                                                guarantee

                                                                Joint
Chengdu CSG
                     2021/2/19    5,000     2021/3/8            liability   None   None        1 year    Yes      No
Glass Co., Ltd.
                                                                guarantee

Sichuan CSG
                                                                Joint
Energy
                    2021/12/25    8,000    2022/4/15    4,200   liability   None   None        1 year    No       No
Conservation
                                                                guarantee
Glass Co., Ltd.

Sichuan CSG                                                     Joint
                     2022/4/25   10,000     2022/6/6    8,000               None   None        1 year    No       No
Energy                                                          liability

                                                          50
                                                                                       CSG Semi-annual Report 2022


Conservation                                                 guarantee
Glass Co., Ltd.

Sichuan CSG
                                                             Joint
Energy
                     2021/6/8    5,000   2021/8/24           liability   None   None        1 year    No       No
Conservation
                                                             guarantee
Glass Co., Ltd.

                                                             Joint
Wujiang CSG
                    2021/2/19   10,000   2021/3/12   6,236   liability   None   None       4 years    No       No
Glass Co., Ltd.
                                                             guarantee

                                                             Joint
Wujiang CSG
                    2022/4/25   10,000   2022/5/18    780    liability   None   None        1 year    No       No
Glass Co., Ltd.
                                                             guarantee

                                                             Joint
Wujiang CSG
                   2021/12/25   10,000   2022/2/17    747    liability   None   None        1 year    Yes      No
Glass Co., Ltd.
                                                             guarantee

                                                             Joint
Wujiang CSG
                    2021/2/19    5,000    2021/3/8           liability   None   None        1 year    Yes      No
Glass Co., Ltd.
                                                             guarantee

                                                             Joint
Wujiang CSG
                     2021/6/8    5,000   2021/9/26   2,852   liability   None   None        1 year    No       No
Glass Co., Ltd.
                                                             guarantee

                                                             Joint
Wujiang CSG
                    2021/2/19   10,000   2021/3/26           liability   None   None        1 year    Yes      No
Glass Co., Ltd.
                                                             guarantee

Wujiang CSG
                                                             Joint
East China
                    2020/12/5   10,000   2020/12/9           liability   None   None        1 year    Yes      No
Architectural
                                                             guarantee
Glass Co., Ltd.

Wujiang CSG
                                                             Joint
East China
                    2022/4/25    7,000   2022/5/18           liability   None   None        1 year    No       No
Architectural
                                                             guarantee
Glass Co., Ltd.

Wujiang CSG
                                                             Joint
East China
                    2021/2/19   12,400   2021/5/19   2,572   liability   None   None       5 years    Yes      No
Architectural
                                                             guarantee
Glass Co., Ltd.

Wujiang CSG
                                                             Joint
East China
                    2022/4/25   12,400   2022/5/26   2,572   liability   None   None       5 years    No       No
Architectural
                                                             guarantee
Glass Co., Ltd.

Wujiang CSG
                                                             Joint
East China
                   2021/12/25    3,000                       liability   None   None       2 years    No       No
Architectural
                                                             guarantee
Glass Co., Ltd.

Dongguan CSG                                                 Joint
Solar Glass Co.,    2021/8/10   10,000   2021/9/13   3,460   liability   None   None        1 year    No       No
Ltd.                                                         guarantee

Dongguan CSG                                                 Joint
Solar Glass Co.,    2021/2/19    5,000    2021/3/8   3,796   liability   None   None        1 year    No       No
Ltd.                                                         guarantee

Dongguan CSG                                                 Joint
                    2022/4/25   10,000   2022/5/17   2,124               None   None        1 year    No       No
Solar Glass Co.,                                             liability



                                                       51
                                                                                          CSG Semi-annual Report 2022


Ltd.                                                            guarantee

Dongguan CSG                                                    Joint
Solar Glass Co.,    2021/10/30   20,000   2020/12/25    2,000   liability   None   None        1 year    Yes      No
Ltd.                                                            guarantee

Dongguan CSG                                                    Joint
Solar Glass Co.,     2022/4/25    8,000     2022/6/7    1,214   liability   None   None        1 year    No       No
Ltd.                                                            guarantee

Dongguan CSG                                                    Joint
Solar Glass Co.,     2022/4/25    9,000    2022/5/31    1,661   liability   None   None       4 years    No       No
Ltd.                                                            guarantee

Dongguan CSG                                                    Joint
Solar Glass Co.,      2021/6/8    6,711     2021/7/7            liability   None   None        1 year    No       No
Ltd.                                                            guarantee

Qingyuan CSG
New                                                             Joint
Energy-Saving         2021/6/8    4,330    2021/8/25    1,425   liability   None   None        1 year    No       No
Materials Co.,                                                  guarantee
Ltd.

Qingyuan CSG
New                                                             Joint
Energy-Saving        2021/8/10    4,500     2021/9/7            liability   None   None        1 year    No       No
Materials Co.,                                                  guarantee
Ltd.

Qingyuan CSG
New                                                             Joint
Energy-Saving        2022/4/25   10,000    2022/5/17    3,000   liability   None   None        1 year    No       No
Materials Co.,                                                  guarantee
Ltd.

Qingyuan CSG
New                                                             Joint
Energy-Saving       2021/12/25    5,000                         liability   None   None        1 year    No       No
Materials Co.,                                                  guarantee
Ltd.

Qingyuan CSG
New                                                             Joint
Energy-Saving       2019/12/10    5,000    2020/4/26            liability   None   None        1 year    Yes      No
Materials Co.,                                                  guarantee
Ltd.

Qingyuan CSG
New                                                             Joint
Energy-Saving       2019/12/10   50,000    2020/4/26   10,524   liability   None   None       5 years    No       No
Materials Co.,                                                  guarantee
Ltd.

                                                                Joint
Yichang CSG
                    2021/10/30    3,000    2021/12/1    2,943   liability   None   None        1 year    No       No
Display Co., Ltd.
                                                                guarantee

                                                                Joint
Yichang CSG
                     2022/4/25    3,000    2022/6/24    2,800   liability   None   None        1 year    No       No
Display Co., Ltd.
                                                                guarantee

Tianjin CSG                                                     Joint
Energy-Saving         2021/6/8    3,000    2021/7/14            liability   None   None        1 year    No       No
Glass Co., Ltd.                                                 guarantee




                                                          52
                                                                                           CSG Semi-annual Report 2022


Tianjin CSG                                                      Joint
Energy-Saving        2022/4/25     5,000    2022/6/21     600    liability   None   None        1 year    No       No
Glass Co., Ltd.                                                  guarantee

Tianjin CSG                                                      Joint
Energy-Saving        2021/2/19     7,000    2021/3/23    6,464   liability   None   None       4 years    No       No
Glass Co., Ltd.                                                  guarantee

Tianjin CSG                                                      Joint
Energy-Saving        2021/6/29     2,000   2021/11/26    1,654   liability   None   None        1 year    No       No
Glass Co., Ltd.                                                  guarantee

Anhui CSG New
                                                                 Joint
Energy Material
                     2021/8/10    70,000   2021/10/19   31,342   liability   None   None       6 years    No       No
Technology Co.,
                                                                 guarantee
Ltd.

Anhui CSG New
                                                                 Joint
Energy Material
                     2021/8/10   180,000    2021/8/28   79,887   liability   None   None       7 years    No       No
Technology Co.,
                                                                 guarantee
Ltd.

Anhui CSG New
                                                                 Joint
Energy Material
                    2021/12/25    50,000    2022/3/30    9,256   liability   None   None       9 years    No       No
Technology Co.,
                                                                 guarantee
Ltd.

Anhui CSG New                                                    Joint
Quartz Material      2021/6/29     9,000    2021/9/13    7,442   liability   None   None       5 years    No       No
Co., Ltd                                                         guarantee

Zhaoqing CSG                                                     Joint
Energy-Saving        2022/4/25     5,000    2022/5/30    1,000   liability   None   None       3 years    No       No
Glass Co., Ltd.                                                  guarantee

Zhaoqing CSG                                                     Joint
Energy-Saving        2020/9/22    34,000    2020/9/25   23,055   liability   None   None       5 years    No       No
Glass Co., Ltd.                                                  guarantee

Dongguan CSG                                                     Joint
Architectural        2022/4/25              2022/6/22    2,661   liability   None   None        1 year    No       No
Glass Co., Ltd.                                                  guarantee

Dongguan CSG                                                     Joint
Solar Glass Co.,     2022/4/25              2022/6/22            liability   None   None        1 year    No       No
Ltd.                                                             guarantee

                                                                 Joint
Dongguan CSG
                     2022/4/25              2022/6/22     216    liability   None   None        1 year    No       No
PV-tech Co., Ltd.
                                                                 guarantee

Qingyuan CSG
New                               48,000                         Joint
Energy-Saving        2021/6/29               2021/7/1            liability   None   None        1 year    Yes      No
Materials Co.,                                                   guarantee
Ltd.

Anhui CSG New
                                                                 Joint
Energy Material
                     2022/4/25              2022/6/22   12,153   liability   None   None        1 year    No       No
Technology Co.,
                                                                 guarantee
Ltd.

                                                                 Joint
Wujiang CSG
                     2022/4/25              2022/6/22    1,831   liability   None   None        1 year    No       No
Glass Co., Ltd.
                                                                 guarantee

Chengdu CSG          2022/4/25              2022/6/22     900    Joint       None   None        1 year    No       No


                                                           53
                                                                                                                       CSG Semi-annual Report 2022


Glass Co., Ltd.                                                                  liability
                                                                                 guarantee

Sichuan CSG
                                                                                 Joint
Energy
                         2022/4/25                     2022/6/22          332    liability        None        None          1 year      No         No
Conservation
                                                                                 guarantee
Glass Co., Ltd.

                                                                                 Joint
Xianning CSG
                         2022/4/25                     2022/6/22        2,424    liability        None        None          1 year      No         No
Glass Co., Ltd.
                                                                                 guarantee

Xianning CSG                                                                     Joint
Energy-Saving            2022/4/25                     2022/6/22          282    liability        None        None          1 year      No         No
Glass Co., Ltd.                                                                  guarantee

Wujiang CSG
                                                                                 Joint
East China
                         2022/4/25                     2022/6/22        1,876    liability        None        None          1 year      No         No
Architectural
                                                                                 guarantee
Glass Co., Ltd.

Tianjin CSG                                                                      Joint
Energy-Saving            2022/4/25                     2022/6/22        1,955    liability        None        None          1 year      No         No
Glass Co., Ltd.                                                                  guarantee

                                                                                 Joint
Hebei Panel
                         2020/6/24                                               liability        None        None          1 year      Yes        No
Glass Co., Ltd.
                                                                                 guarantee

Dongguan CSG
                                                                                 Joint
Jingyu New
                         2020/2/25                                               liability        None        None          1 year      Yes        No
Material Co.,
                                                                                 guarantee
Ltd.

Zhaoqing CSG                                                                     Joint
Energy-Saving            2022/4/25                                               liability        None        None          1 year      No         No
Glass Co., Ltd.                                                                  guarantee

Total amount of approving guarantee          for                                 Total amount of actual occurred guarantee for
                                                                      175,400                                                                     93,285
subsidiaries in report period (B1)                                               subsidiaries in report period (B2)

Total amount of approved guarantee for                                           Total balance of actual guarantee for subsidiaries
                                                                      783,089                                                                    309,940
subsidiaries at the end of reporting period (B3)                                 at the end of reporting period (B4)

                                                   Guarantee situation of subsidiaries to subsidiaries

                                                                                                            Counter-                             Guaran
                                                     Actual date                                                                      Complet
                                                                                                            Warranties                  e        tee for
  Name of the           Related                     of happening      Actual                    Collatera
                                      Guarantee                                  Guarantee                                 Guarant               related
   Company          Announcement                       (Date of      guarante                       l       circumsta                 impleme
                                        limit                                      type                                    ee term                party
  guaranteed        disclosure date                     signing       e limit                    (if any)      nce                     ntation
                                                                                                                                                 (Yes or
                                                     agreement)                                             (if any)                   or not
                                                                                                                                                   no)

Total amount of approving guarantee          for                                 Total amount of actual occurred guarantee for
                                                                             0                                                                          0
subsidiaries in report period (C1)                                               subsidiaries in report period (C2)

Total amount of approved guarantee for                                           Total balance of actual guarantee for subsidiaries
                                                                             0                                                                          0
subsidiaries at the end of reporting period (C3)                                 at the end of reporting period (C4)

                                                   Guarantee situation of subsidiaries to subsidiaries

Total amount of approving guarantee in report                                    Total amount of actual occurred guarantee in
                                                                      175,400                                                                     93,285
period (A1+B1+C1)                                                                report period (A2+B2+C2)

Total amount of approved guarantee at the end of                                 Total balance of actual guarantee at the end of
                                                                      783,089                                                                    309,940
report period (A3+B3+C3)                                                         report period (A4+B4+C4)

The proportion of the total amount of actual guarantee in the net
                                                                                                                                                 26.23%
assets of the Company(that is A4+ B4+C4)


                                                                           54
                                                                                                                       CSG Semi-annual Report 2022


Including:

Amount of guarantee for shareholders, actual controller and its
                                                                                                                                                              0
related parties(D)

The debts guarantee amount provided for the guaranteed parties
                                                                                                                                                      28,194
whose assets-liability ratio exceed 70% directly or indirectly(E)

Proportion of total amount of guarantee in net assets of the
                                                                                                                                                              0
Company exceed 50%(F)

Total amount of the aforesaid three guarantees(D+E+F)                                                                                                 28,194

For the guarantee contract not yet due, guarantee responsibility
incurred in the reporting period or there is evidence showing the      N/A
description of the possible related discharge duty (if any)

Explanations on external guarantee against regulated procedures(if
                                                                       N/A
any)

  Note:

  1. The Company's 2021 Annual General Meeting of Shareholders reviewed and approved the "Proposal on the 2022 Annual Guarantee Plan", and the
  General Meeting of Shareholders agreed to provide guarantee for the 2022 annual credit line of financial institutions of subsidiaries at all levels
  (hereinafter referred to as "subsidiaries") within the scope of the consolidated statements with a total amount not exceeding the equivalent value of
  16.268 billion yuan (including the effective and unexpired limit). Among them, the total amount of guarantee shall not exceed the equivalent of RMB
  15.018 billion (including the effective and unexpired amount) for each subsidiary with an asset liability ratio of less than 70%, and the total amount of
  guarantee shall not exceed the equivalent of RMB 1.25 billion (including the effective and unexpired amount) for each subsidiary with an asset
  liability ratio of more than 70%. All external guarantees of the Company are guarantees for subsidiaries within the scope of consolidated statements.
  As of June 30, 2022, the actual guarantee balance was RMB 3,099.4 million (of which the actual guarantee balance with an asset liability ratio of
  more than 70% (inclusive) was RMB 281.94 million), accounting for 27.12% of the parent company's net assets of RMB 11,429.66 million at the end
  of 2021 and 15.54% of the total assets of RMB 19,939.36 million; Accounting for 26.23% of the net assets of RMB 11,817.42 million attributable to
  the parent company at the end of the report period and 13.79% of the total assets of RMB 22,471.18 million. The Company has no overdue guarantee.

  2. The Company's 2021 Annual General Meeting of Shareholders reviewed and approved the "Proposal on the Development of Asset Pool Business in
  2022". In order to meet the overall management of the Company's assets such as bills and letters of credit and to meet the needs of financial
  institutions' product upgrades, the General Meeting of Shareholders approved the Company and its subsidiaries. The Company conducts asset pool
  business of no more than RMB 800 million. Under the premise of controllable risks, various guarantee methods such as maximum pledge, general
  pledge, deposit certificate pledge, bill pledge, and margin pledge can be adopted for business development. As of June 30, 2022, the actual pledge
  amount and financing balance of the asset pool business are RMB 0 yuan.


  3. Entrusted Financing

  √ Applicable     □ Not applicable
                                                                                                                                     Unit: RMB 0,000

                                                                                                                                Amount of impairment
                                                                                                            Amount not
                                 Source of funds for       Amount of entrusted         Outstanding                               accrued for overdue
             Type                                                                                         collected after
                                 entrusted financing              financing               balance                               uncollected entrusted
                                                                                                            the due date
                                                                                                                                      financing

   Structured deposit          Own funds                                   132,816            120,900                       0                          0

   Total                                                                   132,816            120,900                       0                          0

  Details of high-risk entrusted financing with significant single amount or low security and poor liquidity
  □Applicable      √ Not applicable

                                                                             55
                                                                                                       CSG Semi-annual Report 2022


  Entrusted financing expected to be unable to recover the principal or other circumstances that may lead to impairment
  □Applicable      √ Not applicable


  4. Other major contracts

  √Applicable      □ Not applicable

                  Name of                                                                       Impleme
 Name of                                                        Total                            ntation
                  the other     Subjec                                      Relate
 company                                 Contract               contract                        as of the
                                                     Pricing               d-party    Associ                 Date of      Disclosure
                    party          t     signing                amount                           end of
signing the                                         principle              transac     ation                disclosure      index
                 signing the    matter     date                 (RMB                               the
                                                                           tion or
  contract                                                      0,000)                           report
                   contract                                                  not
                                                                                                 period
                 LONGi
                 Solar
                 Technology
                 Ltd.,
                 Zhejiang
                 LONGi
                 Solar
                 Technology
                 Ltd.,
                 TaizhouLO
                 NGi Solar
                 Technology
                 Ltd.,
Wujiang
                 Yinchuan
CSG Glass
                 LONGi
Co., Ltd.,                     Photov
                                           July                                                                           Notice
                 Solar                              Fair                                       In           August 3,
Dongguan                       oltaic                           650,000    No        Nil                                  No.:
                 Technology              31,2020    value                                      progress     2020
CSG Solar                      glass                                                                                      2020-060
                 Ltd.,Chuzh
Glass Co.,
                 ouLONGi
Ltd.
                 Solar
                 Technology
                 Ltd.,
                 Datong
                 LONGi
                 Solar
                 Technology
                 Ltd.,
                 LONGi
                 (H.K.)
                 Trading
                 Limited,
                 LONGi



                                                                   56
                                                                                                           CSG Semi-annual Report 2022


               (KUCHIN
               G) SDN.
               BHD.,
               XianyangL
               ONGi Solar
               Technology
               Ltd.,
               Jiangsu
               LONGi
               Solar
               Technology
               Ltd.,
               JiaxingLO
               NGi Solar
               Technology
               Ltd.,Xi'anL
               ONGi
               Green
               Building
               Technology
               Ltd.




XIII. Statement on other important matters

√Applicable      □ Not applicable

1. Ultra-short-term financing bills
On June 15, 2020,         the Third Extraordinary Shareholders’ General Meeting 2020 of CSG deliberated and approved the proposal on
application for registration and issuance of ultra-short-term financing bills and medium-term notes, which agreed that the Company
should register and issue ultra-short-term financing bills with a registered amount not exceeding 1.5 billion yuan (the limit is not
subject to the limit of 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 September 4, 2020, the NAFMII held its 102nd registration meeting in 2020 and decided to accept the
registration of ultra-short-term financing bills with a total of 1.5 billion yuan and a validity period of two years. On May 16, 2022,
the Company's 2021 annual general meeting reviewed and approved the "Proposal on Application for Registration and Issuance of
Medium-Term Notes and Ultra-short-term Financing Bills", which agreed that the Company would register and issue ultra-short-term
financing bills with a registered amount of not more than 1 billion yuan, The Company can issue one or more times within the
validity period of the registration according to the actual capital needs and the capital situation of the inter-bank market.

2. Medium-term notes
On June 15, 2020, the Third Extraordinary Shareholders’ General Meeting 2020 of CSG deliberated and approved the proposal on
application for registration and issuance of ultra-short-term financing bills and medium-term notes, which agreed that the Company
should register and issue medium-term notes with a registered amount not exceeding 1.5 billion yuan. 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


                                                                    57
                                                                                                         CSG Semi-annual Report 2022


capital needs of the Company and the situation of inter-bank market funds. On September 4, 2020, the NAFMII held the 102nd
registration meeting in 2020 and decided to accept the company's registration of medium-term notes with a total of 1.5 billion yuan
and a validity period of two years. On May 16, 2022, the Company's 2021 annual general meeting reviewed and approved the
"Proposal on Application for Registration and Issuance of Medium-term Notes and Ultra-short-term Financing Bills", which agreed
that the Company would register and issue medium-term notes with a registered amount of not more than 2 billion yuan. Actual
capital needs and inter-bank market capital status, can be issued one or more times within the validity period of registration.

3 .Public issuance of corporate bonds
On March 2, 2017, the 2nd Extraordinary General Meeting of Shareholders in 2017 reviewed 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 in 2019 The “Proposal on Extending the Validity Period of the Shareholders' Meeting for the Public Offering of
Corporate Bonds to Qualified Investors” agreed 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 June 26, 2019, the Company received the “Approval of Approving CSG Holding Co., Ltd. to Issue
Corporate Bonds to Qualified Investors” issued by China Securities Regulatory Commission (ZJXK [2019] No. 1140). On March 24,
2020 and March 25, 2020, the Company issued the first batch of corporate bonds with total amount of RMB 2 billion and valid term
of 3 years at the issuance rate of 6%, which will be redeemed on March 25, 2023 (for details, please refer to "Section IX Bonds").

4. Public issuance of A-share convertible corporate bonds
On July 11, 2022, the Company's 2nd Extraordinary General Meeting of Shareholders in 2022 reviewed and approved relevant
proposals on the Company's public issuance of A-share convertible corporate bonds, and agreed to issue A-share convertible
corporate bonds. The total amount of funds raised would not exceed RMB 2,800,000,000 (including RMB 2,800,000,000), with a
term of 6 years from the date of issuance.

5.Passive reduction of Southern Glass A shares held by Zhongshan Runtian Investment Co., Ltd.
On July 12, 2022, the Company received the "Notice Letter" from Chongqing Xinyu Financial Leasing Co., Ltd. (hereinafter referred
to as "Chongqing Xinyu"). According to the "Notification Letter", the Shenzhen Intermediate Court ruled to sell 67.65 million
"Southern Glass A" shares (stock code: 000012) held by Zhongshan Runtian Investment Co., Ltd. (hereinafter referred to as
"Zhongshan Runtian"). On July 27, July 28 and July 29, 2022, Chongqing Xinyu forcibly sold a total of 55.6289 million Southern
Glass A shares held by Zhongshan Runtian through block transactions, accounting for 1.81% of the Company's total share capital.
After the passive reduction of the aforementioned shares, the number of shares held by Zhongshan Runtian decreased from
86,633,447 shares to 31,004,547 shares, and the shareholding ratio decreased from 2.82% to 1.01%.

6. The matter of the special fund of RMB 171 million for talent introduction
Regarding the special fund of RMB 171 million for talent introduction, the Company filed an infringement compensation lawsuit
against Zeng Nan and others and Yichang Hongtai Real Estate Co., Ltd. on December 15, 2021, and Shenzhen Intermediate People's
Court officially accepted it on January 28, 2022. The first trial of the case was completed in Shenzhen Intermediate People's Court on
June 21, 2022, and is currently awaiting judgment.




XIV. Significant events of subsidiaries of the Company

□ Applicable    √ Not applicable




                                                                   58
                                                                                                       CSG Semi-annual Report 2022




   Section VII. Changes in Shares and Particulars about Shareholders

I. Changes in Share Capital

1. Changes in Share Capital

                                                                                                                            Unit: Share
                           Before the Change  (Note)
                                                            Increase/Decrease in the Change (+, -)             After the Change
                                                     New           Capitalizatio
                                           Proporti        Bonus                                                            Proportion
                              Amount                shares          n of public    Others       Subtotal      Amount
                                           on (%)          shares                                                              (%)
                                                    issued            reserve
I. Restricted shares           4,736,796     0.15%                                  -188,500     -188,500      4,548,296        0.15%
1. State-owned shares
2. State-owned legal
person’s shares
3. Other domestic
                               4,736,796     0.15%                                  -188,500     -188,500      4,548,296        0.15%
shares
Including: Domestic
legal person’s shares
     Domestic natural
                               4,736,796     0.15%                                  -188,500     -188,500      4,548,296        0.15%
person’s shares
4. Foreign shares
Including: Foreign
legal person’s shares
     Foreign natural
person’s shares
II. Unrestricted shares 3,065,955,311 99.85%                                         188,500      188,500 3,066,143,811        99.85%
1. RMB Ordinary
                        1,956,586,251 63.72%                                         188,500      188,500 1,956,774,751        63.72%
shares
2. Domestically listed
                        1,109,369,060 36.13%                                                                1,109,369,060      36.13%
foreign shares
3. Overseas listed
foreign shares
4. Others
III.Total shares           3,070,692,107     100%                                                           3,070,692,107       100%
Reason for equity changes
√Applicable       □Not applicable
During the report period, China securities registration and clearing Co., Ltd. Adjusted the locked-up shares of senior management
in accordance with regulations, and the Company’s restricted shares and unrestricted shares changed accordingly.

Approval on equity changes

□Applicable       √Not applicable

Transfer of ownership for equity changes

□Applicable       √Not applicable



                                                                   59
                                                                                                     CSG Semi-annual Report 2022


Implementation progress of share buyback

□Applicable    √Not applicable

Implementation progress of share buyback reduction through centralized bidding

□Applicable    √Not applicable

Influence on the basic EPS and diluted EPS as well as other financial indexes of net assets per share attributable to common
shareholders of Company in the latest year and period
□Applicable    √Not applicable

Other information necessary to be disclosed or need to be disclosed under requirement from security regulators
□Applicable    √ Not applicable


2. Changes of restricted shares

√Applicable   □ Not applicable
                                                                                                                         Unit: Share
                  Number of Number Number of Number of
                     shares    of shares  shares      shares
 Shareholders’
                 restricted at released restricted restricted at          Reason for restriction             Released date
    name
                the beginning in the increased in the end of
                 of the period Period the Period the Period
                                                                                                   Releasing of executive lockup
                                                                      Executive lockup stocks of
Chen Lin            1,217,299                            1,217,299                                 stocks will be implemented
                                                                      1,217,299 shares
                                                                                                   according to relevant policies.

                                                                                                   Releasing of executive lockup
                                                                      Executive lockup stocks of
He Jin                673,200                              673,200                                 stocks will be implemented
                                                                      673,200 shares
                                                                                                   according to relevant policies.

                                                                                                   Releasing of executive lockup
                                                                      Executive lockup stocks of
Wang Wenxin                  0                115,950      115,950                                 stocks will be implemented
                                                                      115,950 shares
                                                                                                   according to relevant policies.

                                                                                                   Releasing of executive lockup
                                                                      Executive lockup stocks of
Wang Jian             759,000                              759,000                                 stocks will be implemented
                                                                      759,000 shares
                                                                                                   according to relevant policies.

                                                                                                   Releasing of executive lockup
                                                                      Executive lockup stocks of
Yang Xinyu            869,499                              869,499                                 stocks will be implemented
                                                                      869,499 shares
                                                                                                   according to relevant policies.

                                                                                                   Releasing of executive lockup
                                                                      Executive lockup stocks of
Lu Wenhui           1,217,298 304,325                      912,973                                 stocks will be implemented
                                                                      912,973 shares
                                                                                                   according to relevant policies.

                                                                                                   Releasing of executive lockup
                                                                      Executive lockup stocks of
Gao Changkun               500      125                         375                                stocks will be implemented
                                                                      375 shares
                                                                                                   according to relevant policies.



                                                                 60
                                                                                                               CSG Semi-annual Report 2022


  Total                4,736,796 304,450             115,950      4,548,296                --                                  --

 Note:The change in restricted shares during the reporting period was caused by China Securities Depository and Clearing Co., Ltd.'s
 adjustment of the locked-up shares of senior executives in accordance with regulations.


 II. Issuance and listing of Securities

 □Applicable      √ Not applicable


 III.Amount of shareholders of the Company and particulars about shares holding

                                                                                                                                    Unit: share

Total amount of shareholders at                          Total amount of the preferred shareholders who have resumed
                                               159,423                                                                                        0
the end of the report period                             the voting right at end of report period (if applicable)

                                      Shareholder with above 5% shares held or top ten shareholders

                                                                                                Amount                      Number of share
                                                       Proporti Total shares
                                                                                                   of     Amount of          pledged/frozen
                                        Nature of        on of      held at the   Changes in
    Full name of Shareholders                                                                   restricte un-restricted
                                       shareholder       shares end of report report period                                Share
                                                                                                d shares shares held                Amount
                                                       held (%)       period                                               status
                                                                                                 held

                                      Domestic non
Foresea Life Insurance Co., Ltd. –
                                      state-owned        15.19% 466,386,874                               466,386,874
HailiNiannian
                                      legal person

                                      Domestic non
Foresea Life Insurance Co., Ltd. –
                                      state-owned         3.86% 118,425,007                               118,425,007
Universal Insurance Products
                                      legal person

                                                                                                                          Pledged   86,630,000
                                      Domestic non
Zhongshan Runtian Investment
                                      state-owned         2.82%     86,633,447                             86,633,447 Marked        86,630,000
Co., Ltd.
                                      legal person                                                                        Frozen         3,447

                                      Domestic non
Foresea Life Insurance Co., Ltd. –
                                      state-owned         2.11%     64,765,161                             64,765,161
Own Fund
                                      legal person

China Merchants Securities (HK) State-owned
                                                          1.37%     42,050,889      -318,099               42,050,889
Co., Limited                          legal person

China Galaxy International
                                      Foreign legal
Securities (Hong Kong) Co.,                               1.34%     41,219,778                             41,219,778
                                      person
Limited

                                      Domestic non
National Social Security Fund 418
                                      state-owned         1.19%     36,649,229    36,649,229               36,649,229
Portfolio
                                      legal person

CITIC Securities - China CITIC        Domestic non        1.07%     32,888,875    32,888,875               32,888,875


                                                                         61
                                                                                                              CSG Semi-annual Report 2022


Bank - CITIC Securities Excellent state-owned
Growth Two-Year Holding Period legal person
Hybrid Collective Asset
Management Plan

China Life Insurance Co.,
                                    Domestic non
Ltd.-Traditional-General
                                    state-owned        1.03%    31,645,064       1,808,796              31,645,064
Insurance Products-005L-CT001
                                    legal person
Shen

VANGUARD EMERGING
                                    Foreign legal
MARKETS STOCK INDEX                                    0.65%    19,885,573       -1,445,024             19,885,573
                                    person
FUND

Strategic investors or general legal person N/A
becomes top 10 shareholders due to shares issued
(if applicable)

Explanation on associated relationship among the As of the end of the report period, among shareholders as listed above, Foresea
aforesaid shareholders                               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. Zhongshan Runtian Investment
                                                     Co., Ltd. is a related legal person of Foresea Life Insurance Co., Ltd. and Chengtai
                                                     Group Co., Ltd., another related legal person of Foresea Life Insurance Co., Ltd,
                                                     which held 40,187,904 shares 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
                                                     Administration of the Takeover of Listed Companies Procedures.

Explanation of the above-mentioned shareholders' N/A
entrusted/being entrusted voting rights and waiver
of voting rights

Special instructions on the existence of special     N/A
repurchase account among the top 10
shareholders (if applicable)

                                  Particular about top ten shareholders with un-restricted shares held

                                                                        Amount of                         Type of shares
                                                                        un-restricted
                      Shareholders’ name
                                                                     shares held at                    Type                   Amount
                                                                          year-end

Foresea Life Insurance Co., Ltd. – HailiNiannian                          466,386,874 RMB ordinary shares                    466,386,874

Foresea Life Insurance Co., Ltd. – Universal Insurance
                                                                           118,425,007 RMB ordinary shares                    118,425,007
Products

Zhongshan Runtian Investment Co., Ltd.                                      86,633,447 RMB ordinary shares                     86,633,447




                                                                     62
                                                                                                          CSG Semi-annual Report 2022


Foresea Life Insurance Co., Ltd. – Own Fund                              64,765,161 RMB ordinary shares                     64,765,161

                                                                                       Domestically listed foreign
China Merchants Securities (HK) Co., Limited                              42,050,889                                         42,050,889
                                                                                       shares

China Galaxy International Securities (Hong Kong) Co.,                                 Domestically listed foreign
                                                                          41,219,778                                         41,219,778
Limited                                                                                shares

National Social Security Fund 418 Portfolio                               36,649,229 RMB ordinary shares                     36,649,229

CITIC Securities - China CITIC Bank - CITIC Securities
Excellent Growth Two-Year Holding Period Hybrid Collective                32,888,875 RMB ordinary shares                     32,888,875
Asset Management Plan

China Life Insurance Co., Ltd.-Traditional-General Insurance
                                                                          31,645,064 RMB ordinary shares                     31,645,064
Products-005L-CT001 Shen

VANGUARD EMERGING MARKETS STOCK INDEX                                                  Domestically listed foreign
                                                                          19,885,573                                         19,885,573
FUND                                                                                   shares

                                                                   As of the end of the report period, 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. Zhongshan Runtian Investment Co., Ltd. is a related legal
Explanation of the related relationship or concerted action
                                                                   person of Foresea Life Insurance Co., Ltd. and Chengtai Group Co.,
between the top 10 ordinary shareholders of unrestricted shares,
                                                                   Ltd., another related legal person of Foresea Life Insurance Co., Ltd,
and between the top 10 ordinary shareholders of unrestricted
                                                                   which held 40,187,904 shares via China Galaxy International
shares and the top 10 ordinary 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 Administration of the Takeover of Listed
                                                                   Companies Procedures.

Description of the top 10 ordinary shareholders participating in
margin trading and securities lending business shareholders (if N/A
applicable)

 Special note: On July 11, 2022, at the Company's Second Extraordinary General Meeting in 2022, Foresea Life Insurance Co., Ltd.
 voted in favor of all proposals, and Zhongshan Runtian Investment Co., Ltd. voted against all proposals , Chengtai Group Co., Ltd.
 voted against all the proposals with the shares held by China Galaxy International Securities (Hong Kong) Co., Limited; on August 3,
 2022, at the Company's Third Extraordinary General Meeting in 2022, Foresea Life Insurance Co., Ltd. voted in favor of all
 proposals, and Zhongshan Runtian Investment Co., Ltd. voted against all proposals.


 Whether the top ten shareholders or top ten shareholders with un-restricted shares carried out buy back deals in the report period
 □Yes √ No
 The top ten shareholders or top ten shareholders with un-restricted shares did not carry out buy back deals in the report period.




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                                                                                                                  CSG Semi-annual Report 2022


IV. Changes in the shareholding of directors, supervisors and senior executives

√Applicable    □ Not applicable



                                                                                                                             Number
                                                             Amount           Amount                      Number of                         Number of
                                                                                                                                of
                                                             of shares        of shares                    restricted                       restricted
                                              Shares held                                      Shares                       restricted
                               Working             at        increased        decreased        held at       shares                           shares
   Name          Title                                                                                                        shares
                                status        period-begin    in this          in this       period-end    granted at                       granted at
                                                (Share)                                       (Share)                       granted in
                                                              period           period                     period-begin                      period-end
                                                                                                                            this period
                                                              (Share)          (Share)                      (Share)                          (Share)
                                                                                                                             (shares)

               Vice
               President
 Wang
               and Chief      Incumbent          154,600                0                0    154,600                   0               0              0
 Wenxin
               Financial
               Officer
 Total                   --              --      154,600                0                0    154,600                   0               0              0


V. Changes of controlling shareholder or actual controller

Changes of controlling shareholders in the report period
□Applicable   √ Not applicable
Changes of actual controller in the report period
□Applicable   √ Not applicable




                                                                         64
                                                                          CSG Semi-annual Report 2022




                                     Section VIII. Preferred shares

□Applicable   √ Not applicable
There were no preferred shares in the Company during the report period.




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                                                                                                      CSG Semi-annual Report 2022




                                                    Section IX. Bonds

√Applicable      □ Not applicable


I. Enterprise bonds

□Applicable     √ Not applicable
The Company had no enterprise bonds during the report period.


II. Corporate bonds

√Applicable      □ Not applicable


1. Basic information about corporate bonds

                                                                                                                             Unit: RMB

                                                                                                               Way of
                             Bond                                      Maturity                  Interest    repayment        Trading
     Name      Short name             Issue date         Value date               Bond balance
                              code                                         date                   rate      of principal       place
                                                                                                            and interest

                                                                                                            Use simple
                                                                                                            interest to
                                                                                                            calculate the
                                                                                                            annual
                                                                                                            interest,
                                                                                                            excluding
CSG’s                                                                                                      compound
Public                                                                                                      interest.
Issuance                                                                                                    Interest is
of                                                                                                          paid once a Shenzhen
Corporate 20 CSG 01         149079 2020-3-24       to
                                                        2020-3-25     2023-3-25   2,000,000,000 6.00%       year,            Stock
Bonds to                           2020-3-25
                                                                                                            principal is     Exchange
Qualified                                                                                                   repaid once
Investors                                                                                                   due, and the
2020                                                                                                        last
(Phase I)                                                                                                   installment
                                                                                                            of interest is
                                                                                                            paid
                                                                                                            together
                                                                                                            with the
                                                                                                            principal.



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                                                                                                          CSG Semi-annual Report 2022


                                       The corporate bonds shall be publicly issued to qualified institutional investors who have
Appropriate     arrangements        for opened qualified A-share securities accounts in the Shenzhen branch of China securities
investors                              registration and clearing Co., Ltd., in accordance with the provisions of the "Measures for the
                                       Administration of Corporate Bond Issuance and Trading".

                                       Matching transaction, click transaction, inquiry transaction, bidding transaction and negotiation
Applicable trading mechanism
                                       transaction.

Whether there are risks (if any) of
terminating    listing   transactions No
and countermeasures

Overdue bonds
□Applicable    √ Not applicable


2. Triggering and implementation of issuer or investor option clauses and investor protection clauses

□Applicable    √ Not applicable


3. Adjustment of credit rating results during the report period

□Applicable    √ Not applicable


4. The implementation and changes of guarantees, debt repayment plans and other debt repayment
safeguard measures during the reporting period, and their impact on the rights and interests of bond
investors

√Applicable     □ Not applicable

During the report period, the guarantee situation of “20 CSG 01” and other debt repayment safeguard measures of the debt repayment
plan remained unchanged, which were consistent with the relevant commitments in the prospectus. The basic information is as
follows:

I. Guarantee situation

There is no guarantee for this bond.

II. Debt repayment plan

"20 CSG 01" will pay interest once a year during its duration, and the principal will be repaid once upon maturity. The interest of the
last period will be paid together with the repayment of the principal. The payment date of "20 CSG 01" is March 25 of each year
from 2021 to 2023, and the payment date is March 25, 2023 (in case of a statutory holiday or rest day, it will be postponed to the first
trading day thereafter).

Ⅲ. Repayment safeguards
The guarantee measures for debt repayment include confirming the specialized departments and personnel arranging the funds for
repayment, strictly implementing the use of the raised funds, giving full play to the role of bond trustee, setting the rules for
bondholders' meetings, strictly fulfilling the obligation of information disclosure, to fully and effectively protect the interests of
bondholders.



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                                                                                                           CSG Semi-annual Report 2022


III. Debt financing instruments of non-financial enterprises

□Applicable    √ Not applicable
During the report period, the Company did not have non-financial corporate debt financing instruments.


IV. Convertible corporate bonds

□Applicable    √ Not applicable
During the report period, the Company did not have convertible corporate bonds.


V. The loss within the scope of consolidated statements in the reporting period exceeded 10% of the net
assets at the end of the previous year

□Applicable    √ Not applicable


VI. Main accounting data and financial indicators of the company in recent two years by the end of the
reporting period

                                                                                                                             RMB 0,000

                                                                                                         Increase and decrease at the end
                Item                At the end of the report period    At the end of the previous year of the report compared with the
                                                                                                            end of the previous year

Current ratio                                                   1.23                             1.66                           -25.90%

Asset-liability ratio                                           45%                              40%                                   5%

Quick ratio                                                     0.95                             1.38                           -31.16%

                                                                                                           Increase and decrease in the
                                                                       The same period of the previous
                                          The report period                                                report period over the same
                                                                                    year
                                                                                                               period of last year

Net profit after deducting
                                                              88,759                          132,981                           -33.25%
non-recurring gains and losses

EBITDA total debt ratio                                         17%                              32%                                 -15%

Interest coverage ratio                                        10.69                            16.70                           -35.99%

Cash interest coverage ratio                                   12.34                            19.79                           -37.65%

EBITDA interest coverage ratio                                 14.64                            21.35                           -31.43%

Loan repayment rate                                           100%                              100%                                   0%

Interest coverage ratio                                       100%                              100%                                   0%




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                                                                                         CSG Semi-annual Report 2022




                                        Section X. Financial Report
I.Auditors’ Report

Whether the Semi-annual Report has been audited or not
□ Yes √ No
The Company's Semi-annual Report has not been audited.


II.Financial Statements

All figures in the Notes to the Financial Statements are in RMB.

1. Consolidated Balance Sheet
Prepared by CSG Holding Co., Ltd.
                                                           June 30, 2022
                                                                                                             Unit: RMB
                    Item                                  June 30, 2022                  January 1, 2022
Current assets:
Cash at bank and on hand                                                 2,870,042,541                2,765,925,906
Trading financial assets                                                 1,209,000,000                     999,600,000
Notes receivable                                                              445,375                       19,220,984
Accounts receivable                                                       842,283,667                      730,525,687
Receivables financing                                                     582,328,808                      297,046,123
Advances to suppliers                                                     235,326,059                       76,097,276
Other receivables                                                         201,090,652                      183,696,711
Inventories                                                              1,766,912,399                1,093,805,525
Other current assets                                                       68,616,670                      140,705,298
Total current assets                                                     7,776,046,171                6,306,623,510
Non-current assets
Investment property                                                       383,084,500                      383,084,500
Fixed assets                                                             9,336,413,529                8,566,515,026
Construction in progress                                                 2,809,337,684                2,461,088,650
Right of use assets                                                          9,034,632                       9,911,935
Intangible assets                                                        1,209,525,068                1,167,611,402
Development expenditure                                                    91,718,822                       72,019,362
Goodwill                                                                  130,147,859                      130,147,859
Long-term prepaid expenses                                                   3,234,021                       3,013,721
Deferred tax assets                                                       196,661,447                      255,185,923
Other non-current assets                                                  525,974,043                      584,162,622
Total non-current assets                                                14,695,131,605               13,632,741,000
Total assets                                                            22,471,177,776               19,939,364,510




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                                                                                                      CSG Semi-annual Report 2022


1. Consolidated Balance Sheet (continued)
Prepared by CSG Holding Co., Ltd.
                                                           June 30, 2022
                                                                                                                         Unit: RMB
 Item                                                            30-Jun-22                                  1-Jan-22
 Current liabilities :
 Short-term borrowings                                                        468,108,522                               180,770,000
 Notes payable                                                                549,939,628                               400,662,713
 Accounts payable                                                            1,796,932,531                             1,428,851,312
 Contract liabilities                                                         413,885,125                               335,188,642
 Employee benefits payable                                                    287,729,142                               426,212,979
 Taxes payable                                                                154,652,150                               185,009,681
 Other payables                                                               221,866,936                               289,440,477
 Of which: interest payable                                                    36,640,548                                95,001,362
 Non-current liabilities due within one year                                 2,371,913,539                              503,820,548
 Other current liabilities                                                     47,730,142                                40,099,309
 Total current liabilities                                                   6,312,757,715                             3,790,055,661
 Non-current liabilities
 Long-term borrowings                                                        3,161,136,468                             1,469,059,824
 Bonds payable                                                                                                         1,996,587,330
 lease liability                                                                                                            220,138
 Long-term payables                                                           149,062,955                               168,258,062
 Deferred income                                                              495,313,618                               564,129,128
 Deferred tax liabilities                                                      91,256,653                                84,580,132
 Total non-current liabilities                                               3,896,769,694                             4,282,834,614
 Total liabilities                                                         10,209,527,409                              8,072,890,275
 Shareholders’ equity
 Share capital                                                               3,070,692,107                             3,070,692,107
 Capital surplus                                                              596,997,085                               596,997,085
 Other comprehensive income                                                   165,368,070                               159,200,530
 Special reserves                                                               1,852,703                                 7,296,397
 Surplus reserve                                                             1,144,887,510                             1,144,887,510
 Undistributed profits                                                       6,837,623,394                             6,450,587,417

 Total equity attributable to shareholders of
                                                                           11,817,420,869                           11,429,661,046
 parent company

 Minority shareholders' equity                                                444,229,498                               436,813,189
 Total shareholders' equity                                                12,261,650,367                           11,866,474,235

 Total liabilities and shareholders' equity                                 22,471,177,776                            19,939,364,510
Legal Representative:Chen Lin         Principal in charge of accounting: Wang Wenxin      Principal of the financial department:
Wang Wenxin




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                                                                          CSG Semi-annual Report 2022


2. Balance Sheet of the Parent Company
Prepared by CSG Holding Co., Ltd.
                                         June 30, 2022
                                                                                             Unit: RMB
Item                                        June 30, 2022                  January 1, 2022

Current assets
Cash at bank and on hand                                  2,017,872,177               1,961,406,035

Trading financial assets                                  1,209,000,000                 999,600,000
Accounts receivable                                           1,996,267
Receivables Financing                                        15,299,671

Advances to suppliers                                          699,982                        639,164

Other receivables                                         2,624,297,723               2,899,091,405
Of which: dividends receivable                              250,000,000                 250,000,000
Other current assets                                              1,226
Total current assets                                      5,869,167,046               5,860,736,604

Non-current assets
Long-term equity investments                              6,899,675,709               6,262,391,694

Fixed assets                                                  9,002,995                  11,509,029

Intangible assets                                             3,382,512                      2,102,548

Other non-current assets                                    104,236,952                 104,109,111

Total non-current assets                                  7,016,298,168               6,380,112,382
Total assets                                             12,885,465,214              12,240,848,986




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                                                                                               CSG Semi-annual Report 2022


2. Balance Sheet of the Parent Company(continued)
Prepared by CSG Holding Co., Ltd.
                                                           June 30, 2022
                                                                                                                   Unit: RMB
Item                                                      June 30, 2022                        January 1, 2022

Current liabilities
Short-term borrowings                                                     300,000,000                            100,000,000
Bills payable                                                              13,523,441
Accounts payable                                                             464,790                                315,684
Contract liabilities                                                        3,339,466

Employee benefits payable                                                  31,843,275                             68,534,315

Taxes payable                                                              15,815,743                              8,316,132

Other payables                                                        2,075,266,331                          2,067,472,879

Of which: interest payable                                                 34,012,995                             93,596,328
Non-current liabilities due within one
                                                                      2,232,931,024                              400,000,000
year
Other current liabilities                                                    434,130

Total current liabilities                                             4,673,618,200                          2,644,639,010

Non-current liabilities
Long-term borrowings                                                  1,245,000,000                              690,000,000

Bonds payable                                                                                                1,996,587,330

Deferred income                                                           172,312,500                            172,500,000

Total non-current liabilities                                         1,417,312,500                          2,859,087,330

Total liabilities                                                     6,090,930,700                          5,503,726,340

Shareholders’ equity
Share capital                                                         3,070,692,107                          3,070,692,107

Capital surplus                                                           741,824,399                            741,824,399

Surplus reserve                                                       1,159,432,870                          1,159,432,870

Undistributed profits                                                 1,822,585,138                          1,765,173,270
Total shareholders' equity                                            6,794,534,514                          6,737,122,646
Total liabilities and shareholders' equity                           12,885,465,214                         12,240,848,986
Legal Representative:Chen Lin           Principal in charge of accounting: Wang Wenxin   Principal of the financial department:
Wang Wenxin




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                                                                                                 CSG Semi-annual Report 2022


3. Consolidated Income Statement
Prepared by CSG Holding Co., Ltd.
                                                                                                                      Unit: RMB
Item                                                                 Half year of 2022            Half year of 2021
I. Total revenue                                                               6,519,216,676                 6,614,802,538
Of which:Business income                                                       6,519,216,676                 6,614,802,538
II. Total business cost                                                        5,480,144,295                 4,992,720,799
Of which:Business cost                                                         4,637,645,927                 4,126,627,145
Tax and surcharge                                                                 61,280,622                    73,966,054
Sales expenses                                                                  133,906,652                   125,326,015
Administrative expenses                                                         318,635,812                   354,914,704
R&D expenses                                                                    265,877,930                   224,886,882
Financial expenses                                                                62,797,352                    86,999,999
Of which: interest expense                                                        91,984,604                  101,970,419
Interest income                                                                   30,756,704                    20,024,847
Plus: Other income                                                                99,302,552                    36,553,804
Investment income (“- “for loss)                                                16,413,695                     3,672,330
Credit impairment loss (“- “for loss)                                           -1,492,222                    -2,524,048
Asset impairment loss (“- “for loss)                                                   1,456                 -26,753,082
Income on disposal assets (“- “for loss)                                        12,745,461                          137,638
III. Operational profit (“- “for loss)                                       1,166,043,323                 1,633,168,381
Plus: non-operational income                                                      15,132,978                     7,551,798
Less: non-operational expenditure                                                  3,660,070                    16,461,985
IV. Total profit (“- “for loss)                                              1,177,516,231                 1,624,258,194
Less: Income tax expenses                                                       168,925,524                   255,280,290
V. Net profit (“- “for net loss)                                             1,008,590,707                 1,368,977,904
(I)    Classification by business continuity
1. Net profit from continuing operations (“-” for net loss)                  1,008,590,707                 1,368,977,904
2. Net profit from discontinued operations (“-” for net
loss)
(II) Classification by ownership
1. Equity attributable to shareholders of parent company                       1,001,174,398                 1,352,517,465
2.Minority shareholder gains and losses                                            7,416,309                    16,460,439
VI. Other comprehensive income net after tax                                       6,167,540                     1,322,491
Other comprehensive income net after tax attributable to
                                                                                   6,167,540                     1,322,491
shareholders of parent company
(I) Other comprehensive income that will be reclassified
into profit and loss
(II) Other comprehensive income reclassified to profit or
                                                                                   6,167,540                     1,322,491
loss
1.Differences on translation of foreign currency financial
                                                                                   6,167,540                     1,322,491
statements
Other comprehensive income, net of tax attributable to
minority shareholders
VII. Total comprehensive income                                                1,014,758,247                 1,370,300,395


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                                                                                              CSG Semi-annual Report 2022


Total comprehensive income attributable to shareholders
                                                                        1,007,341,938                       1,353,839,956
of parent company
Total comprehensive income attributable to minority
                                                                            7,416,309                          16,460,439
shareholders
VIII. Earnings per share:
(I) Basic earnings per share                                                     0.33                                 0.44
(II) Diluted earnings per share                                                  0.33                                 0.44
Legal Representative:Chen Lin       Principal in charge of accounting: Wang Wenxin      Principal of the financial department:
Wang Wenxin




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                                                                                                       CSG Semi-annual Report 2022


4. Income Statement of the Parent Company
Prepared by CSG Holding Co., Ltd.
                                                                                                                           Unit: RMB
Item                                                                   Half year of 2022                   Half year of 2021
I. Revenue                                                                          230,198,412                         42,342,857
Less: Business cost                                                                  15,015,892
Tax and surcharge                                                                     1,508,969                            674,374
Sales expenses                                                                        1,500,585
Administrative expenses                                                             158,605,939                         91,345,095
R & D expenses                                                                                                             616,965
Financial expenses                                                                   54,002,083                         76,018,822
Of which: interest expense                                                           84,259,999                         94,186,512
Interest income                                                                      28,380,771                         17,977,849
Plus: Other income                                                                    5,677,313                          2,018,355
Investment income(“- “for loss)                                                   665,374,823                        718,475,642
Credit impairment loss (“- “for loss)                                                    -85,084                             -9,473

Income on disposal assets (“- “for loss)                                            2,477,876                          6,893,580
II. Operating profit                                                                673,009,872                        601,065,705

Add: Non-operating income                                                                                                      29,967

Less: Non-operating expenses                                                          1,459,583                         15,026,836
III. Total profit (“- “for loss)                                                  671,550,289                        586,068,836

Less: Income tax expenses
IV. Net profit (“- “for loss)                                                     671,550,289                        586,068,836
(I) Net profit for continuing operations(“- “for loss)                            671,550,289                        586,068,836
(II) Net profit from discontinued operations(“- “for loss)
VI. Total comprehensive income                                                      671,550,289                        586,068,836
VII. Earnings per share

Legal Representative:Chen Lin             Principal in charge of accounting: Wang Wenxin         Principal of the financial department:
Wang Wenxin




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5. Consolidated Cash Flow Statement
Prepared by CSG Holding Co., Ltd.
                                                                                                                      Unit: RMB
Item                                                                  Half year of 2022                Half year of 2021
I. Cash flows from operating activities
Cash received from sales of goods or rendering of services                      6,933,269,669                   7,148,379,280
Refund of taxes and surcharges                                                    209,272,049                      33,207,751
Cash received relating to other operating activities                               87,236,568                     178,825,175
Subtotal of cash inflow from operating activities                               7,229,778,286                   7,360,412,206
Cash paid for goods and services                                                4,720,858,626                   3,907,366,000
Cash paid to and on behalf of employees                                           967,549,535                     888,450,173
Payments of taxes and surcharges                                                  434,697,790                     619,574,024
Cash payments relating to other operating activities                              203,869,214                     246,776,634
Subtotal of cash outflow from operating activities                              6,326,975,165                   5,662,166,831
Net cash flows from/(used in) operating activities                                902,803,121                   1,698,245,375
II. Cash flows from investing activities
Cash received from investment recovery                                          1,988,760,000                   1,182,000,000
Cash received from investment income                                               15,609,996                       3,559,719
Net cash received from disposal of fixed assets, intangible
                                                                                   13,563,172                         777,451
assets and other long-term assets
Cash received relating to other investing activities                                                               32,136,351
Subtotal of cash inflows from investing activities                              2,017,933,168                   1,218,473,521
Cash paid to acquire fixed assets, intangible assets and other
                                                                                1,632,778,700                     738,492,345
long-term assets
Cash paid for investment                                                        2,198,160,000                   1,644,000,000
Cash paid relating to other investing activities                                   19,138,102                       6,911,853
Subtotal of cash outflows from investing activities                             3,850,076,802                   2,389,404,198
Net cash flows (used in)/from investing activities                             -1,832,143,634                  -1,170,930,677
III. Cash flows from financing activities
Cash received from borrowings                                                   2,277,155,766                     605,996,933
Cash received relating to other financing activities                                    206,753
Subtotal of cash inflows from financing activities                              2,277,362,519                     605,996,933
Cash repayments of borrowings                                                     428,340,521                   1,099,975,831
Cash payments for interest expenses and distribution of
                                                                                  791,223,957                     508,082,947
dividends or profits
Cash payments relating to other financing activities                               24,165,012                         390,507
Subtotal of cash outflows from financing activities                             1,243,729,490                   1,608,449,285
Net cash flows (used in)/from financing activities                              1,033,633,029                  -1,002,452,352
IV. Effect of foreign exchange rate changes on cash and cash
                                                                                    3,195,681                      -1,217,711
equivalents
V. Net increase/(decrease) in cash and cash equivalents                           107,488,197                    -476,355,365
   Add: Cash and cash equivalents at beginning of current
                                                                                2,756,477,572                   2,124,028,196
period
VI. Cash and cash equivalents at end of current period                          2,863,965,769                   1,647,672,831

Legal Representative:Chen Lin          Principal in charge of accounting: Wang Wenxin       Principal of the financial department:
Wang Wenxin


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                                                                                                CSG Semi-annual Report 2022


6. Cash Flow Statement of the Parent Company
Prepared by CSG Holding Co., Ltd.
                                                                                                                    Unit: RMB
Item                                                                  Half year of 2022              Half year of 2021

I. Cash flows from operating activities
Cash received from sales of goods or rendering of services                        191,082,575
Cash received relating to other operating activities                               39,349,241                    29,031,997
Subtotal of cash inflow from operating activities                                 230,431,816                    29,031,997

Cash paid to and on behalf of employees                                           179,110,652                    77,605,388

Payments of taxes and surcharges                                                    7,463,566                    11,908,472

Cash paid relating to other operating activities                                   16,953,909                    31,121,887

Sub-total of cash outflows                                                        203,528,127                   120,635,747

Net cash flows from/(used in) operating activities                                 26,903,689                   -91,603,750

II. Cash flows from investing activities
Cash received from investment recovery                                          1,988,760,000                 1,090,000,000

Cash received from investment income                                              664,571,124                   967,450,288
Net cash received from disposal of fixed assets, intangible
                                                                                    2,477,876                       101,560
assets and other long-term assets
Sub-total of cash inflows                                                       2,655,809,000                 2,057,551,848
Cash paid to acquire fixed assets, intangible assets and other
                                                                                    3,611,833                     2,669,478
long-term assets
Cash paid for investing activities                                              2,835,444,015                 1,839,799,000

Sub-total of cash outflows                                                      2,839,055,848                 1,842,468,478

Net cash flows (used in)/from investing activities                               -183,246,848                   215,083,370

III. Cash flows from financing activities
Cash received from borrowings                                                     900,000,000                   314,000,000

Cash received relating to other financing activities                              379,666,653                   143,736,716

Sub-total of cash inflows                                                       1,279,666,653                   457,736,716

Cash repayments of borrowings                                                     310,000,000                   857,300,000
Cash payments for interest expenses and distribution of
                                                                                  756,638,060                   497,947,983
dividends or profits
Cash payments relating to other financing activities                                1,017,256

Subtotal of cash outflows from financing activities                             1,067,655,316                 1,355,247,983

Net cash flows (used in)/from financing activities                                212,011,337                  -897,511,267
IV. Effect of foreign exchange rate changes on cash and cash
                                                                                    1,808,472                       372,354
equivalents
V.Net increase/(decrease) in cash and cash equivalents                             57,476,650                  -773,659,293
   Add: Cash and cash equivalents at beginning of current
                                                                                1,960,395,527                 1,071,200,364
period
VI. Cash and cash equivalents at end of current period                          2,017,872,177                   297,541,071

Legal Representative:Chen Lin          Principal in charge of accounting: Wang Wenxin     Principal of the financial department:
Wang Wenxin




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7. Consolidated Statement of Changes in Owners’ Equity
Prepared by CSG Holding Co., Ltd.
Amount of the current period
                                                                                                                                                                                  Unit: RMB

                                                                                                        Half year of 2022
                                                                       Owners’ Equity Attributable to the Parent Company
                  Item                                                                                                                                        Minority          Total
                                                                           Other                                                                            shareholders    shareholders'
                                                          Capital                        Special         Surplus        Undistributed
                                         Share capital                  comprehensi                                                           Subtotal        ' equity         equity
                                                          surplus                        reserves        reserve          profits
                                                                         ve income
I. Balance at the end of the previous
                                         3,070,692,107   596,997,085    159,200,530      7,296,397    1,144,887,510     6,450,587,417      11,429,661,046   436,813,189    11,866,474,235
year
II. Balance at the beginning of
                                         3,070,692,107   596,997,085    159,200,530      7,296,397    1,144,887,510     6,450,587,417      11,429,661,046   436,813,189    11,866,474,235
current year
III. Amount of change in current
                                                                           6,167,540    -5,443,694                          387,035,977      387,759,823      7,416,309      395,176,132
term(“- “for decrease)
(I)  Total    amount        of     the
                                                                           6,167,540                                    1,001,174,398       1,007,341,938     7,416,309     1,014,758,247
comprehensive income
(II) Capital paid in and reduced by
owners
(III) Profit distribution                                                                                                   -614,138,421     -614,138,421                    -614,138,421
1. Appropriations to owners (or
                                                                                                                            -614,138,421     -614,138,421                    -614,138,421
shareholders)
(IV) Internal      carry-forward    of
owners’ equity
(V) Specific reserves                                                                   -5,443,694                                             -5,443,694                      -5,443,694
1. Withdrawal in the period                                                              4,853,948                                              4,853,948                       4,853,948
2. Used in the period                                                                   10,297,642                                            10,297,642                       10,297,642
(VI) Others
IV. Balance at the end of the period     3,070,692,107   596,997,085    165,368,070      1,852,703    1,144,887,510     6,837,623,394      11,817,420,869   444,229,498    12,261,650,367




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7. Consolidated Statement of Changes in Owners’ Equity(continued)
Prepared by CSG Holding Co., Ltd.
Amount of the previous period
                                                                                                                                                                               Unit: RMB

                                                                                                        Half year of 2021
                                                                       Owners’ Equity Attributable to the Parent Company
                  Item                                                                                                                                   Minority           Total
                                                                           Other                                                                       shareholders'    shareholders'
                                                           Capital                       Special        Surplus       Undistributed
                                         Share capital                  comprehensi                                                      Subtotal         equity           equity
                                                           surplus                       reserves       reserve         profits
                                                                         ve income
I. Balance at the end of the previous    3,070,692,10                                   10,269,00
                                                         596,997,085     161,816,819                 1,036,948,422    5,336,266,412   10,212,989,847    402,894,039     10,615,883,886
year                                                7                                           2
II. Balance at the beginning of          3,070,692,10                                   10,269,00
                                                         596,997,085     161,816,819                 1,036,948,422    5,336,266,412   10,212,989,847    402,894,039     10,615,883,886
current year                                        7                                           2
III. Amount of change in current                                                        -1,166,41
                                                                           1,322,491                                  1,045,448,254    1,045,604,335     16,460,439      1,062,064,774
term(“- “for decrease)                                                                        0
(I)  Total    amount        of     the
                                                                           1,322,491                                  1,352,517,465    1,353,839,956     16,460,439      1,370,300,395
comprehensive income
(II) Capital paid in and reduced by
owners
(III) Profit distribution                                                                                              -307,069,211     -307,069,211                      -307,069,211
1. Appropriations to owners (or
                                                                                                                       -307,069,211     -307,069,211                      -307,069,211
shareholders)
(IV) Internal      carry-forward    of
owners’ equity
                                                                                        -1,166,41
(V) Specific reserves                                                                                                                     -1,166,410                        -1,166,410
                                                                                                0
1. Withdrawal in the period
2. Used in the period                                                                   1,166,410                                          1,166,410                         1,166,410
(VI) Others
IV. Balance at the end of the period     3,070,692,10
                                                         596,997,085     163,139,310    9,102,592    1,036,948,422    6,381,714,666   11,258,594,182    419,354,478     11,677,948,660
                                                    7
Legal Representative:Chen Lin                              Principal in charge of accounting: Wang Wenxin                             Principal of the financial department:Wang Wenxin


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8. Statement of changes in owner's equity of the parent company
Prepared by CSG Holding Co., Ltd.
Amount of the current period
                                                                                                                                                                Unit: RMB

                                                                                                 Half year of 2022
                            Item                                                                                                                   Total shareholders'
                                                         Share capital       Capital surplus     Surplus reserve      Undistributed profits
                                                                                                                                                          equity

I. Balance at the end of the previous year                   3,070,692,107         741,824,399        1,159,432,870           1,765,173,270               6,737,122,646
II. Balance at the beginning of current year                 3,070,692,107         741,824,399        1,159,432,870           1,765,173,270               6,737,122,646
III. Amount of change in current term(“- “for
                                                                                                                                 57,411,868                  57,411,868
decrease)
(I) Total amount of the comprehensive income                                                                                    671,550,289                 671,550,289
(II) Capital paid in and reduced by owners
(III) Profit distribution                                                                                                      -614,138,421                -614,138,421
1. Appropriations to owners (or shareholders)                                                                                  -614,138,421                -614,138,421
(IV) Internal carry-forward of owners’ equity
(V) Special reserves
(VI) Others
IV. Balance at the end of the period                         3,070,692,107         741,824,399        1,159,432,870           1,822,585,138               6,794,534,514




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8. Statement of changes in owner's equity of the parent company(continued)
Prepared by CSG Holding Co., Ltd.
Amount of the previous period
                                                                                                                                                                         Unit: RMB

                                                                                                        Half year of 2021
                            Item                                                                                                                            Total shareholders'
                                                          Share capital            Capital surplus       Surplus reserve       Undistributed profits
                                                                                                                                                                   equity

I. Balance at the end of the previous year                     3,070,692,107             741,824,399          1,051,493,782            1,100,790,694               5,964,800,982
II. Balance at the beginning of current year                   3,070,692,107             741,824,399          1,051,493,782            1,100,790,694               5,964,800,982
III. Amount of change in current term(“- “for
                                                                                                                                         278,999,625                 278,999,625
decrease)
(I) Total amount of the comprehensive income                                                                                             586,068,836                 586,068,836
(II) Capital paid in and reduced by owners
(III) Profit distribution                                                                                                               -307,069,211                -307,069,211
1. Appropriations to owners (or shareholders)                                                                                           -307,069,211                -307,069,211
(IV) Internal carry-forward of owners’ equity
(V) Special reserves
(VI) Others
IV. Balance at the end of the period                           3,070,692,107             741,824,399          1,051,493,782            1,379,790,319               6,243,800,607
Legal Representative:Chen Lin                          Principal in charge of accounting: Wang Wenxin                         Principal of the financial department:Wang Wenxin




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III. Basic Information of the Company

CSG Holding Co Ltd (the “Company”) was incorporated in September 1984, known as China South Glass Company, as a joint
venture enterprise by Hong Kong China Merchants Shipping Co., LTD ( 香 港 招 商 局 轮 船 股 份 有 限 公 司 ), Shenzhen Building
Materials Industry Corporation (深圳建筑材料工业集团公司), China North Industries Corporation (中国北方工业深圳公司) and
Guangdong International Trust and Investment Corporation (广东国际信托投资公司). The Company was registered in Shenzhen,
Guangdong Province of the People's Republic of China and its headquarters is located in Shenzhen, Guangdong Province of the
People's Republic of China. The Company issued RMB-denominated ordinary shares (“A-share”) and foreign shares (“B-share”)
publicly in October 1991 and January 1992 respectively, and was listed on Shenzhen Stock Exchange on February 1992. As at June
30, 2022, the registered capital was RMB 3,070,692,107, with nominal value of RMB1 per share.

The Company and its subsidiaries (collectively referred to as the “Group”) are mainly engaged in the manufacture and sales of flat
glass, specialized glass, engineering glass, energy saving glass, silicon related materials, polysilicon and solar components and
electronic-grade display device glass and the construction and operation of photovoltaic plant etc.

The financial statements were authorized for issue by the Board of Directors on August 29, 2022.

Details on the major subsidiaries included in the consolidated scope in current year were stated in the Note.


IV. Basis of the preparation of financial statements

1. Basis of preparation

The financial statements are prepared in accordance with the Accounting Standards for Business Enterprises - Basic Standard, and
the specific accounting standards and other relevant regulations issued by the Ministry of Finance on 15 February 2006 and in
subsequent periods (hereafter collectively referred to as “the Accounting Standard for Business Enterprises” or “CAS”), and
Information Disclosure Rule No. 15 for Companies with Public Traded Securities - Financial Reporting General Provision issued by
China Security Regulatory Commission.

2. Going concern

This financial report is prepared on the basis of going concern.


V. Summary of significant accounting policies and accounting estimates

The Group determines its specific accounting policies and accounting estimates to manufacturing and operation feature. It mainly
reflected in expected credit impairment losses of receivables was measured, inventory costing method, Depreciation of fixed assets
and amortization of intangible assets, criteria for determining capitalised development expenditure, and timing for revenue
recognition.

Refer to the notes for details of the key judgements adopted by the Group in applying important accounting policies.

1. Statement of compliance with the Accounting Standards for Business Enterprises

The financial statements of the Company for the first half year of 2022 truly and completely present the financial position as of June
30, 2022and the operating results, cash flows and other information for the first half year of 2022of the Group and the Company in
compliance with the Accounting Standards for Business Enterprises.

2. Accounting period

The Company’s accounting year starts on 1 January and ends on 31 December.

3. Operating cycle

The Company’s operating cycle starts on 1 January and ends on 31 December.


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4. Recording currency

The recording currency is Renminbi (RMB).

5. Business combinations

(a)Business combinations involving entities under common control

The consideration paid and net assets obtained by the absorbing party in a business combination are measured at book value. If the
merged party was acquired by the ultimate controlling party from a third party in the previous year, the assets and liabilities of the
merged party (including the goodwill formed by the ultimate controlling party’s acquisition of the merged party). The difference
between book value of the net assets obtained from the combination and book value of the consideration paid for the combination is
treated as an adjustment to capital surplus (share premium). If the capital surplus (share premium) is not sufficient to absorb the
difference, the remaining balance is adjusted against retained earnings. Costs directly attributable to the combination are included in
profit or loss in the period in which they are incurred. Transaction costs associated with the issue of equity or debt securities for the
business combination are included in the initially recognised amounts of the equity or debt securities.

 (b) Business combinations involving enterprises not under common control

The cost of combination and identifiable net assets obtained by the acquirer in a business combination are measured at fair value at
the acquisition date. Where the cost of the combination exceeds the acquirer’s interest in the fair value of the acquiree’s identifiable
net assets, the difference is recognised as goodwill; where the cost of combination is lower than the acquirer’s interest in the fair
value of the acquiree’s identifiable net assets, the difference is recognised in profit or loss for the current period. Costs directly
attributable to the combination are included in profit or loss in the period in which they are incurred. Transaction costs associated
with the issue of equity or debt securities for the business combination are included in the initially recognised amounts of the equity
or debt securities.

6. Preparation method of consolidated financial statements

The consolidated financial statements comprise the financial statements of the Company and all of its subsidiaries.

Subsidiaries are consolidated from the date on which the Group obtains control and are de-consolidated from the date that such
control ceases. For a subsidiary that is acquired in a business combination involving enterprises under common control, it is included
in the consolidated financial statements from the date when it, together with the Company, comes under common control of the

ultimate controlling party. The portion of the net profits realised before the combination date is presented separately in the
consolidated income statement.

In preparing the consolidated financial statements, where the accounting policies and the accounting periods of the Company and
subsidiaries are inconsistent, the financial statements of the subsidiaries are adjusted in accordance with the accounting policies and
the accounting period of the Company. For subsidiaries acquired from business combinations involving enterprises not under
common control, the individual financial statements of the subsidiaries are adjusted based on the fair value of the identifiable net
assets at the acquisition date.

All significant intra-group balances, transactions and unrealised profits are eliminated in the consolidated financial statements. The
portion of subsidiaries’ equity and the portion of a subsidiaries’ net profits and losses and comprehensive incomes for the period not
attributable to Company are recognised as minority interests and presented separately in the consolidated financial statements under
equity, net profits and total comprehensive income respectively. Unrealised profits and losses resulting from the sales of assets by the
Company to its subsidiaries are fully eliminated against net profit attributable to shareholders of the parent company. Unrealised
profits and losses resulting from the sales of assets by a subsidiary to the Company are eliminated and allocated between net profit
attributable to shareholders of the parent company and non-controlling interests in accordance with the allocation proportion of the
parent company in the subsidiary. Unrealised profits and losses resulting from the sales of assets by one subsidiary to another are
eliminated and allocated between net profit attributable to shareholders of the parent company and non-controlling interests in
accordance with the allocation proportion of the parent in the subsidiary.

After the control over the subsidiary has been gained, whole or partial minority equities of the subsidiary owned by minority
shareholders are acquired from the subsidiary’s minority shareholders. In the consolidated financial statements, the subsidiary's assets
and liabilities are reflected with amount based on continuous calculation starting from the acquisition date or consolidation date.
Capital surplus is adjusted according to the difference between newly increased long-term equity investment arising from acquisition
of minority equity and the share of net assets calculated based on current shareholding ratio that the parent company is entitled to.

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The share is subject to continuous calculation starting from the acquisition date or consolidation date. If the capital surplus (capital
premium or share capital premium) is not sufficient to absorb the difference, the remaining balance is adjusted against retained
earnings.

If the accounting treatment of a transaction which considers the Group as an accounting entity is different from that considers the
Company or its subsidiaries as an accounting entity, it is adjusted from the perspective of the Group.


7. Criteria for determining cash and cash equivalents

Cash and cash equivalents refer to cash in hand, deposits that can be used for payment at any time, and investments with short
holding periods, strong liquidity, easy conversion into known amounts of cash, and low risk of value changes.


8.Translating of foreign currency operations and foreign currency report form

(a) Foreign currency transaction

Foreign currency transactions are translated into RMB using the exchange rates prevailing at the dates of the transactions.

On the balance sheet date, monetary items denominated in foreign currencies are translated into RMB using the spot exchange rates
on the balance sheet date. Exchange differences arising from these translations are recognised in profit or loss for the current period,
except for those attributable to foreign currency borrowings that have been taken out specifically for the acquisition or construction
of qualifying assets, which are capitalised as part of the cost of those assets. Non-monetary items denominated in foreign currencies
that are measured at historical costs are translated at the balance sheet date using the spot exchange rates at the date of the
transactions. The effect of exchange rate changes on cash is presented separately in the cash flow statement.

(b)Conversion of foreign currency financial statements

The asset and liability items in the balance sheets for overseas operations are translated at the spot exchange rates on the balance
sheet date. Among the shareholders’ equity items, the items other than “undistributed profits” are translated at the spot exchange rates
of the transaction dates. The income and expense items in the income statements of overseas operations are translated at the spot
exchange rates of the transaction dates. The differences arising from the above translation are presented separately in the
shareholders’ equity. The cash flows of overseas operations are translated at the spot exchange rates on the dates of the cash flows.
The effect of exchange rate changes on cash is presented separately in the cash flow statement.


9.Financial instrument

A financial instrument is any contract that gives rise to a financial asset of one entity and a financial liability or equity instrument of
another entity. A financial asset or a financial liability is recognised when the Group becomes a party to the contractual provisions of
the instrument.

(a) Financial assets

(i) Classification and measurement

Based on the business model for managing the financial assets and the contractual cash flow characteristics of the financial assets
financial assets are classified as: (1) financial assets at amortised cost; (2) financial assets at fair value through other comprehensive
income; (3) financial assets at fair value through profit or loss.

The financial assets are measured at fair value at initial recognition. Related transaction costs that are attributable to the acquisition of
the financial assets are included in the initially recognised amounts, except for the financial assets at fair value through profit or loss,
the related transaction costs of which are recognised directly in profit or loss for the current period. Accounts receivable or notes
receivable arising from sales of products or rendering of services (excluding or without regard to significant financing components)
are initially recognised at the consideration that is entitled to be charged by the Group as expected.

Debt instruments

The debt instruments held by the Group refer to the instruments that meet the definition of financial liabilities from the perspective of
the issuer, and are measured in the following ways.

      Measured at amortised cost

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The objective of the Group's business model is to hold the financial assets to collect the contractual cash flows, and the contractual
cash flow characteristics are consistent with a basic lending arrangement, which gives rise on specified dates to the contractual cash
flows that are solely payments of principal and interest on the principal amount outstanding. The interest income of such financial
assets is recognised using the effective interest method. Such financial assets mainly comprise cash at bank and on hand placements
with and loans to banks and other financial institutions measured at amortised cost, accounts receivable, factoring receivables, loans
and advances, other receivables and long-term receivables. Long-term receivables that are due within one year (inclusive) as from the
balance sheet date are included in the current portion of non-current assets.

Financial assets at fair value through other comprehensive income:

The objective of the Group's business model is to hold the financial assets to collect the contractual cash flows and selling as target
and the contractual cash flow characteristics are consistent with a basic lending arrangement. Such financial assets are measured at
fair value and their changes are included in other comprehensive income, but impairment losses or gains, exchange gains and losses,
and interest income calculated by the effective interest rate method are all included in the current profit and loss. Such financial
assets mainly comprise - receivable financing and other financial debt investment. Other financial debt investment that are due within
one year (inclusive) as from the balance sheet date are included in the current portion as other current assets.

Measured at fair value through profit or loss:

Debt instruments held by the Group that are not divided into those at amortised cost, or those measured at fair value through other
comprehensive income, are measured at fair value through profit or loss and included in financial assets held for trading. At initial
recognition, the Group designates a portion of financial assets as at fair value through profit or loss to eliminate or significantly
reduce an accounting mismatch. Financial assets that are due within one year (inclusive) as from the balance sheet date and are
expected to be held over one year are included in other non-current financial assets.

Equity instruments

Investments in equity instruments, over which the Group has no control, joint control or significant influence, are measured at fair
value through profit or loss under financial assets held for trading; investments in equity instruments expected to be held over one
year as from the balance sheet date are included in other non-current financial assets.

In addition, a portion of certain investments in equity instruments not held for trading are designated as financial assets at fair value
through other comprehensive - income under other investments in equity instruments. The relevant dividend income of such financial
assets is recognised in profit or loss for the current period.

(ii) Impairment

The Group confirms the loss provision based on expected credit losses for financial assets measured at amortised cost, debt
instrument investments at fair value through other comprehensive income, and financial guarantee contracts. based on expected credit
losses (ECL) and recognizes allowances for losses.

Giving consideration to reasonable and supportable information on past events, current conditions and forecasts of future economic
conditions, as well as the default risk weight , the expected credit loss was confirmed .

On each balance sheet date, the expected credit losses of financial instruments at different stages are measured respectively.
12-month ECL provision is recognised for financial instruments in Stage 1 that have not had a significant increase in credit risk since
initial recognition; lifetime ECL provision is recognised for financial instruments in Stage 2 that have had a significant increase in
credit risk yet without credit impairment since initial recognition; and lifetime ECL provision is recognised for financial instruments
in Stage 3 that have had credit impairment since initial recognition.

For the financial instruments with lower credit risk on the balance sheet date, the Group assumes there is no significant increase in
credit risk since initial recognition and recognises the 12-month ECL provision.

For the financial instruments in Stage 1, Stage 2 and with lower credit risk, the Group calculates the interest income by applying the
effective interest rate to the gross carrying amount (before deduction of the impairment provision). For the financial instrument in
-Stage 3, the interest income is calculated by applying the effective interest rate to the amortised cost (after deduction of the
impairment provision from the gross carrying amount).

For notes and accounts receivables and factoring receivables arising from daily business activities such as selling commodities and
providing labor services, the Group recognises the lifetime expected credit loss provision regardless of whether there exists a
significant financing component.

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In case the expected credit losses of an individually assessed financial asset cannot be evaluated with reasonable cost, the Group
divides the receivables into certain groupings based on credit risk characteristics, and calculates the expected credit losses for the
groupings. Basis for determined groupings and method for provision are as follows:


Notes receivables Portfolio 1                 Bank acceptance notes                                     Expected credit loss method

Notes receivables Portfolio 2                 Trade acceptance notes                                    Expected credit loss method

Accounts receivables Portfolio 1              Receivables non-related third party                       Expected credit loss method

Accounts receivables Portfolio 2              Receivables related party                                 Expected credit loss method

Other receivables Portfolio 1                 Receivables non-related third party                       Expected credit loss method

Other receivables Portfolio 2                 Receivables related party                                 Expected credit loss method


For notes and accounts receivables and receivable financing arising from daily business activities such as selling commodities and
providing labor services, the Group refers to historical credit loss experience, combined with current conditions and predictions of
future economic conditions. In addition to notes receivable, factoring receivables and other receivables classified as a combination,
the Group refers to historical credit loss experience, combines current conditions and predictions of future economic conditions, and
passes default risk exposure and future 12 The expected credit loss rate within a month or the entire duration is calculated as the
expected credit loss.

The Group recognises the loss provision made or reversed into profit or loss for the current period. For debt instruments that are held
at fair value and whose changes are included in other comprehensive income, the Group adjusts other comprehensive income while
accounting for impairment losses or gains in the current profit or loss.

(iii) Derecognition

A financial asset is derecognised when any of the below criteria is met: (1) the contractual rights to receive the cash flows from the
financial asset expire; (2) the financial asset has been transferred and the Group transfers substantially all the risks and rewards of
ownership of the financial asset to the transferee; or (3) the financial asset has been transferred and the Group has not retained control
of the financial asset, although the Group neither transfers nor retains substantially all the risks and rewards of ownership of the
financial asset.

(b) Financial liabilities


Financial liabilities are classified as financial liabilities at amortised cost and financial liabilities at fair value through profit or loss at
initial recognition.

The Group's financial liabilities are mainly comprise financial liabilities at amortised cost, including bills payable, accounts payable,
and other payables. This type of financial liability is initially measured at its fair value after deducting transaction costs, and is
subsequently measured using the actual interest rate method. If the maturity is less than one year (including one year), it is listed as
current liabilities; Those with a maturity of less than one year (including one year) are listed as current liabilities; those with a
maturity of more than one year but due within one year (including one year) from the balance sheet date are listed as non-current
liabilities due within one year. The rest are listed as non-current liabilities.

A financial liability is derecognised or partly derecognised when the underlying present obligation is discharged or partly discharged.
The difference between the carrying amount of the derecognised part of the financial liability and the consideration paid is
recognised in profit or loss for the current period.

(c) Determination of fair value of financial instruments

The fair value of a financial instrument that is traded in an active market is determined at the quoted price in the active market. The
fair value of a financial instrument that is not traded in an active market is determined by using a valuation technique. In valuation,
the Group adopts valuation techniques applicable in the current situation and supported by adequate available data and other
information, selects inputs with the same characteristics as those of assets or liabilities considered in relevant transactions of assets or
liabilities by market participants, and gives priority to the use of relevant observable inputs. When relevant observable inputs are not
available or feasible, unobservable inputs are adopted.




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10.Inventories

(a)Classification

Inventories refer to manufacturing sector, including raw materials, work in progress, finished goods and turnover materials, and are
measured at the lower of cost and net realisable value.

(b)Issued Inventory costing method

Cost is determined using the weighted average method. The cost of finished goods and work in progress comprise raw materials,
direct labour and systematically allocated production overhead based on the normal production capacity.

(c) Amortisation methods of low value consumables and packaging materials

Turnover materials include low value consumables and packaging materials, which are expensed when issued.

(d) The determination of net realisable value and the method of provision for decline in the value of inventories

Provision for decline in the value of inventories is determined at the excess amount of book values of the inventories over their net
realisable value. Net realisable value is determined based on the estimated selling price in the ordinary course of business, less the
estimated costs to completion and estimated costs necessary to make the sale and related taxes.

 (e) The Group adopts the perpetual inventory system.

11. Assets classified as held for sale

A non-current asset or a disposal group is classified as held for sale when all of the following conditions are satisfied: (1) the
non-current asset or the disposal group is available for immediate sale in its present condition subject to terms that are traditionally
and customary for sales; (2) the Group has made a resolution and obtained appropriate approval for disposal of the non-current asset
or the disposal group, and the transfer is to be completed within one year.

Non-current assets (except for financial assets, investment properties at fair value and deferred tax assets) that meet the recognition
criteria for held for sale are recognized at the amount equal to the lower of the fair value less costs to sell and book value. The
difference between fair value less costs to sell and carrying amount, should be presented as impairment loss.

Such non-current assets and assets included in disposal groups as classified as held for sale are accounted for as current assets; while
liabilities included in disposal groups classified as held for sale are accounted for as current liabilities, and are presented separately in
the balance sheet.

A discontinued operation is a component of the Group that either has been disposed of or is classified as held for sale, and is
separately identifiable operationally and for financial reporting purposes, and satisfies one of the following conditions: (1) represents
a separate major line of business or geographical area of operations; (2) is part of a single coordinated plan to dispose of a separate
major line of business or geographical area of operations; and (3) is a subsidiary acquired exclusively with a view to resale.

The discontinued operation profits on income statement presentation have included the profits and loss of operation and disposal.


12.Long-term equity investments

Long-term equity investments comprise the Company’s long-term equity investments in its subsidiaries, and the Group’s long-term
equity investments in its associates.

Subsidiaries are the investees over which the Company is able to exercise control. Associates are the investees that the Group has
significant influence on their financial and operating policies.

Investments in subsidiaries are measured using the cost method in the Company’s financial statements, and adjusted by using the
equity method when preparing the consolidated financial statements. Investments in associates are accounted for using the equity
method.

(a)Initial recognition of investment cost



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For long-term equity investments formed in business combination: when obtained from business combinations involving entities
under common control, the long-term equity investment is stated at carrying amount of equity for the combined parties at the time of
merger; when the long-term equity investment obtained from business combinations involving entities not under common control,
the investment is measured at combination cost.

For long-term equity investments not formed in business combination: the one paid by cash is initially measured at actual purchase
price; the long-term investment obtained by issuing equity securities is stated at fair value of equity securities as initial investment
cost..

(b)Subsequent measurement and recognition of related profit or loss

For long-term equity investments accounted for using the cost method, they are measured at the initial investment costs, and cash
dividends or profit distribution declared by the investees are recognised as investment income in profit or loss.

For long-term equity investments accounted for using the equity method, where the initial investment cost of a long-term equity
investment exceeds the Group’s share of the fair value of the investee’s

identifiable net assets at the acquisition date, the long-term equity investment is measured at the initial investment cost; where the
initial investment cost is less than the Group’s share of the fair value of the investee’s identifiable net assets at the acquisition date,
the difference is included in profit or loss and the cost of the long-term equity investment is adjusted upwards accordingly.

Under the equity method, the Group recognises the investment income according to its share of net profit or loss of the investee. The
Group discontinues recognising its share of the net losses of an investee after book values of the long-term equity investment
together with any long-term interests that in substance form part of the investor’s net investment in the investee are reduced to zero.
However, if the Group has obligations for additional losses and the criteria with respect to recognition of provisions
under the accounting standards on contingencies are satisfied, the Group continues recognising the investment losses and the
provisions. For changes in owners’ equity of the investee other than those arising from its net profit or loss, its proportionate share is
directly recorded into capital surplus, provided that the proportion of the shareholding of the Group in the investee remains
unchanged. Book value of the investment is reduced by the Group’s share of the profit distribution or cash dividends declared by an
investee. The unrealised profits or losses arising from the intra-group transactions amongst the Group and its investees are eliminated
in proportion to the Group’s equity interest in the investees, and then based on which the investment gains or losses are recognised.
Any losses resulting from transactions between the Group and its investees attributable to asset impairment losses are not eliminated.

(c)Basis for determining existence of control, jointly control or significant influence over investees

The term "control" refers to the power in the investees, to obtain variable returns by participating in the related business activities of
the investees, and the ability to affect the returns by exercising its power over the investees.

The term "significant influence" refers to the power to participate in the formulation of financial and operating policies of an
enterprise, but not the power to control, or jointly control, the formulation of such policies with other parties.

(d)Impairment of long-term equity investments

Book value of long-term equity investments in subsidiaries and associates is reduced to the recoverable amount when the recoverable
amount is less than book value.


13.Investment property

Investment property includes leased land use rights, land use rights held and provided for to transfer after appreciation and leased
building and construction.

Investment properties are initially measured at acquisition cost. The cost of outsourcing Investment property includes the purchase
price, relevant taxes and other expenditures that can be directly attributable to the asset; the cost of self-built Investment property is
determined by the construction of the asset. The composition of the necessary expenditures incurred before the usable state.

Investment property adopts the fair value model for subsequent measurement without depreciation or amortization. On the balance
sheet date, the book value of the investment properties are initially measured at acquisition cost is adjusted based on the fair value of
the investment properties are initially measured at acquisition cost. The difference between the fair value and the original book value

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will be calculated into the current profit and loss.

When the use of an Investment property is changed to self-use, the investment property is converted into fixed assets or intangible
assets from the date of change, and the book value and fair value of the fixed assets and intangible assets are determined based on the
fair value of the investment property on the conversion date. The difference with the original book value of the investment property is
included in the current profit and loss. When the purpose of self-use real estate is changed to earning rent or capital appreciation,
from the date of change, the fixed assets or intangible assets are converted into investment properties are initially measured at
acquisition cost, and the fair value on the day of conversion is used as the book value of the investment properties are initially
measured at acquisition cost, and the fair value on the day of conversion If the value is less than the original book value of fixed
assets and intangible assets, the difference is included in the current profit and loss. If the fair value on the day of conversion is
greater than the original book value of fixed assets and intangible assets, the difference is included in other comprehensive income.


When an investment property is disposed of or permanently withdrawn from use and it is expected that no economic benefits can be
obtained from its disposal, the confirmation of the investment real estate shall be terminated. The disposal income from the sale,
transfer, scrapping or destruction of investment real estate shall deduct its book value and relevant taxes and shall be included in the
current profits and losses. If there is an amount included in other comprehensive income on the original conversion date, it will also
be carried forward and included in the current profit and loss.

14. Fixed assets

(1) Recognition condition

Fixed assets comprise buildings, machinery and equipment, motor vehicles and others.


Fixed assets are recognized when it is probable that the related economic benefits will probably flow to the Group and the costs can
be reliably measured. Fixed assets purchased or constructed by the Group are initially measured at cost at the acquisition date.


Subsequent expenditures incurred for a fixed asset are included in the cost of the fixed asset when it is probable that the associated
economic benefits will flow to the Group and the related cost can be reliably measured. Book value of the replaced part is
derecognized. All the other subsequent expenditures are recognized in profit or loss in the period in which they are incurred.

(2) Depreciation methods

Fixed assets are depreciated using the straight-line method to allocate the cost of the assets to their estimated residual values over
their estimated useful lives. For the fixed assets that have been provided for impairment loss, the related depreciation charge is
prospectively determined based upon the adjusted carrying amounts over their remaining useful lives.


The estimated useful lives, the estimated net residual values expressed as a percentage of cost and the annual depreciation rates of
fixed assets are as follows:


Item                            Depreciation method          Estimated useful lives      Estimated net       Annual depreciation rate
                                                                                         residual value

Building                        Straight-line method         20 to 35 years              5%                  2.71% to 4.75%

Machinery and equipment         Straight-line method         8 to 20 years               5%                  4.75% to 11.88%

Motor vehicles and others       Straight-line method         5 to 8 years                0%                  12.50% to 20.00%

The estimated useful life, the estimated net residual value of a fixed asset and the depreciation method applied to the asset are
reviewed, and adjusted as appropriate at each year-end.

(3) Book value of a fixed asset is reduced to the recoverable amount when the recoverable amount is below book value.




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(4) Disposal

A fixed asset is derecognized on disposal or when no future economic benefits are expected from its use or disposal. The amount of
proceeds from disposals on sale, transfer, retirement or damage of a fixed asset net ofits carrying amount and related taxes and
expenses is recognized in profit or loss for the current period.


15. Construction in progress

Construction in progress is recorded at actual cost. Actual cost comprises construction cost, installation cost, borrowing costs eligible
for capitalised condition and necessary expenditures incurred for its intended use. Actual cost also includes net of trial production
cost and trial production income before construction in progress is put into production.


Construction in progress is transferred to fixed assets when the assets are ready for their intended use, and depreciation begins from
the following month.


Book value of construction in progress is reduced to the recoverable amount when the recoverable amount is below book value.


16. Borrowing costs

The borrowing costs incurred by the group that are directly attributable to the acquisition and construction of an asset that needs a
substantially long period of time for its intended use commence to be capitalised and recorded as part of the cost of the asset when
expenditures for the asset and borrowing costs have been incurred, and the activities relating to the acquisition and construction that
are necessary to prepare the asset for its intended use have commenced. The capitalisation of borrowing costs ceases when the asset
under acquisition or construction becomes ready for its intended use and the borrowing costs incurred thereafter are recognized in
profit or loss for the current period. Capitalisation of borrowing costs is suspended during periods in which the acquisition or
construction of a fixed asset is interrupted abnormally and the interruption lasts for more than 3 months, until the acquisition or
construction is resumed.

For the specific borrowings obtained for the acquisition or construction of an asset qualifying for capitalisation, the amount of
borrowing costs eligible for capitalisation is determined by the amount of interest expenses actually incurred in the current period of
special borrowing deducting any interest income earned from depositing the unused specific borrowings in the banks or any
investment income arising on the temporary investment of those borrowings during the capitalisation period.

For the general borrowings obtained for the acquisition or construction of an asset qualifying for capitalisation, the amount of
borrowing costs eligible for capitalisation is determined by applying the weighted average effective interest rate of general
borrowings, to the weighted average of the excess amount of cumulative expenditures on the asset over the amount of specific
borrowings. The effective interest rate is the rate at which the estimated future cash flows during the period of expected duration of
the borrowings or applicable shorter period are discounted to the initial amount of the borrowings.


17 .Intangible assets

(1) Valuation method, useful life and impairment test

Intangible assets, mainly including land use rights, patents and proprietary technologies, exploitation rights and others, are measured
at cost.

(a) Land use rights

Land use rights are amortised on the straight-line basis over their approved use period of 30 to 70 years. If the acquisition costs of the
land use rights and the buildings located thereon cannot be reasonably allocated between the land use rights and the buildings, all of
the acquisition costs are recognized as fixed assets.

(b) Patents and proprietary technologies

Patents and proprietary technologies are amortised on a straight-line basis over the estimated use life.

(c) Exploitation rights

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Exploitation rights are amortised on a straight-line basis over permitted exploitation periods on the exploitation certificate.

(d) Periodical review of useful life and amortization method

For an intangible asset with a finite useful life, review of its useful life and amortization method is performed at each year-end, with
adjustment made as appropriate.

(e) Impairment of intangible assets

Book value of intangible assets is reduced to the recoverable amount when the recoverable amount is below book value.

(2) Accounting policy for internal research and development expenditure

The expenditure on an internal research and development project is classified into expenditure on the research phase and expenditure
on the development phase based on its nature and whether there is material uncertainty that the research and development activities
can form an intangible asset at end of the project.
Expenditure on the research phase related to planned survey, evaluation and selection for research on manufacturing technique is
recognized in profit or loss in the period in which it is incurred. Prior to mass production, expenditure on the development phase
related to the design and testing phase in regards to the final application of manufacturing technique is capitalised only if all of the
following conditions are satisfied:
      the development of manufacturing technique has been fully demonstrated by technical team;
      management has approved the budget for the development of manufacturing technique;
      there are research and analysis of pre-market research explaining that products manufactured with such technique are capable
of marketing;
      There is sufficient technical and capital to support the development of manufacturing technique and subsequent mass
production; and the expenditure on manufacturing technique development can be reliably gathered.

Other development expenditures that do not meet the conditions above are recognized in profit or loss in the period in which they are
incurred. Development costs previously recognized as expenses are not recognized as an asset in a subsequent period. Capitalised
expenditure on the development phase is presented as development costs in the balance sheet and transferred to intangible assets at
the date that the asset is ready for its intended use.


18. Impairment of long-term assets

Investment properties,fixed assets, construction in progress, intangible assets with finite useful lives and long-term equity
investments in joint ventures and associates are tested for impairment if there is any indication that the assets may be impaired at the
balance sheet date; intangible assets not ready for their intended use are tested at least annually for impairment, irrespective of
whether there is any indication that they may be impaired. If the result of the impairment test indicates that the recoverable amount of
an asset is less than its carrying amount, a provision for impairment and an impairment loss are recognized for the amount by which
the asset’s carrying amount exceeds its recoverable amount. The recoverable amount is the higher of an asset’s fair value less costs to
sell and the present value of the future cash flows expected to be derived from the asset. Provision for asset impairment is determined
and recognized on the individual asset basis. If it is not possible to estimate the recoverable amount of an individual asset, the
recoverable amount of a group of assets to which the asset belongs is determined. A group of assets is the smallest group of assets
that is able to generate independent cash inflows.

Goodwill that is separately presented in the financial statements is tested at least annually for impairment, irrespective of whether
there is any indication that it may be impaired. In conducting the test, book value of goodwill is allocated to the related asset groups
or groups of asset groups which are expected to benefit from the synergies of the business combination. If the result of the test
indicates that the recoverable amount of an asset group or group of asset groups, including the allocated goodwill, is lower than its
carrying amount, the corresponding impairment loss is recognized. The impairment loss is first deducted from book value of
goodwill that is allocated to the asset group or group of asset groups, and then deducted from book values of other assets within the
asset groups or groups of asset groups in proportion to book values of assets other than goodwill.

Once the above asset impairment loss is recognized, it will not be reversed for the value recovered in the subsequent periods.


19.Long-term prepaid expenses

Long-term prepaid expenses include the expenditures that have been incurred but should be recognised as expenses over more than
one year in the current and subsequent periods. Long-term prepaid expenses are amortised on the straight-line basis over the expected
beneficial period and are presented at actual expenditure net of accumulated amortisation.



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20. Employee benefits

Employee benefits include short-term employee benefits, post-employment benefits, termination benefits and other long-term
employee benefits provided in various forms of consideration in exchange for service rendered by employees or compensations for
the termination of employment relationship.

(1) Accounting treatment method of short-term employee benefits

Short-term employee benefits include wages or salaries, bonuses, allowances and subsidies, staff welfare, medical care, work injury
insurance, maternity insurance, housing funds, labour union funds, employee education funds and paid short-term leave, etc. The
employee benefit liabilities are recognized in the accounting period in which the service is rendered by the employees, with a
corresponding charge to the profit or loss for the current period or the cost of relevant assets. Employee benefits which are
non-monetary benefits shall be measured at fair value.

(2)Accounting treatment method of post-employment benefits

The Group classifies post-employment benefit plans as either defined contribution plans or defined benefit plans. Defined
contribution plans are post-employment benefit plans under which the Group pays fixed contributions into a separate fund and will
have no obligation to pay further contributions; and defined benefit plans are post-employment benefit plans other than defined
contribution plans. During the reporting period, the Group's post-employment benefits mainly include basic pensions and
unemployment insurance, both of which belong to the defined contribution plans.

(3)Basic pensions

The Group’s employees participate in the basic pension plan set up and administered by local authorities of Ministry of Human
Resource and Social Security. Monthly payments of premiums on the basic pensions are calculated according to prescribed bases and
percentage by the relevant local authorities. When employees retire, local labour and social security institutions have a duty to pay
the basic pension insurance to them. The amounts based on the above calculations are recognized as liabilities in the accounting
period in which the service has been rendered by the employees, with a corresponding charge to the profit or loss for the current
period or the cost of relevant assets.

(4)Accounting treatment of dismissal benefits

The Group provides compensation for terminating the employment relationship with employees before the end of the employment
contracts or as an offer to encourage employees to accept voluntary redundancy before the end of the employment contracts. The
Group recognizes a liability arising from compensation for termination of the employment relationship with employees, with a
corresponding charge to profit or loss at the earlier of the following dates: 1) when the Group cannot unilaterally withdraw the offer
of termination benefits because of an employment termination plan or a curtailment proposal; 2) when the Group recognizes costs or
expenses related to the restructuring that involves the payment of termination benefits.

The dismissal benefits expected to be paid within one year since the balance sheet date are classified as current liabilities.

21. Estimated liabilities

Current obligations arising from enterprise restructuring, product quality assurance, onerous contracts, etc. are recognized as
estimated liabilities when the performance of such obligations is likely to lead to the outflow of economic benefits and the amount
can be measured reliably.

A provision is initially measured at the best estimate of the expenditure required to settle the related present obligation. Factors
surrounding a contingency, such as the risks, uncertainties and the time value of money, are taken into account as a whole in reaching
the best estimate of a provision. Where the effect of the time value of money is material, the best estimate is determined by
discounting the related future cash outflows. The increase in the discounted amount of the provision arising from passage of time is
recognized as interest expense.

Book value of provision is reviewed at each balance sheet date and adjusted to reflect the current best estimate.

The provisions expected to be paid within one year since the balance sheet date are classified as current liabilities.




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22 .Share-based payments

Share-based payments are divided into equity-settled and cash-settled payments. The term "equity-settled share-based payment"
refers to a transaction in which an enterprise grants shares or other equity instruments as a consideration in return for services.

Equity-settled share-based payment The Group‘s stock optionstock option plan is the equity-settled share-based payment in exchange
of employees' services and is measured at the fair value of the equity instruments at grant date. The equity instruments are exercisable
after services in vesting period are completed or specified performance conditions are met. In the vesting period, the services
obtained in current period are included in relevant cost and expenses at the fair value of the equity instruments at grant date based on
the best estimate of the number of exercisable equity instruments, and capital surplus is increased accordingly. The Group makes the
best estimate of the number of vesting equity instruments based on the latest obtained changes in the number of vested employees,
whether the required performance conditions are met, and other follow-up information. If the subsequent information indicates the
number of exercisable equity instruments differs from the previous estimate, an adjustment is made and, on the exercise date, the
estimate is revised to equal the number of actual vested equity instruments.

In the period at which performance conditions and term of service are met, the relevant cost and expenses of equity-settled payment
should be recognized, and capital surplus is increased accordingly. Before the exercise date, the accruing amounts of equity-settled
payments on balance sheet date reflect the part of expired waiting period and optimal estimation for the number of the Company final
vested equity instruments.

If the non-market conditions and term of service are not met so that share-based payment fail to exercise, the costs and expenses on
this portion should not be recognized. If the share-based payment agreement sets out the market conditions and term of non-vesting,
as long as performance conditions and term of service are met, it is should be regard as exercisable right, no matter the market
conditions and non-vesting conditions are meet or not.

If the terms of equity-settled payment are modified, at least the service is confirmed in accordance with the unmodified terms. In
addition, the increase of the fair value of the authorized equity instruments, or the beneficial changes to the employees on the
modification date, the increase of service are confirmed. If the equity-settled payment is cancelled, the cancellation date shall be
deemed as an expedited exercise, and the unconfirmed amount shall be confirmed immediately. If the employee or other party is able
to choose to meet the non-vesting conditions but not satisfied in the waiting period, equity-settled payment should be cancelled. But
if a new equity instrument is granted, and the new equity instrument is confirm to replace the old equity instrument which is canceled
in the authorization date of the new equity instrument, the new equity instrument should be disposed by using the same conditions
and terms of the old equity instrument for modifications.

23. Revenue

The Group recognizes revenue at the consideration that the Group is entitled to charge as expected when the Group has fulfilled the
performance obligations in the contract, that is, the customer obtains control over relevant goods or services.

(a) Sales of goods

The Group mainly sells flat and engineering glass, products related to solar energy, and electronic glass and displays. For domestic
sales, the Group delivers the products to a certain place specified in the contract. When the buyer takes over the goods, the Group
recognizes revenue. For export sales, the Group recognizes the revenue when it finished clearing goods for export and delivering the
goods on board the vessel, or when the goods are delivered to a certain place specified in the contract. The credit period granted by
the Group to customers is determined based on the customer's credit risk characteristics, consistent with industry practices, and there
is no major financing component. The Group’s obligation to transfer goods to customers for consideration received or receivable
from customers is listed as contract liabilities.

Revenue is presented as the net amount after deducting sales discounts and sales returns.

(b) Rendering of services

The Group provides external consulting, loading, unloading, transportation and processing labor services, and recognizes revenue
within a period of time based on the progress of the completed labor. The progress of the completed labor is determined according to
the proportion of the cost incurred to the estimated total cost. On the balance sheet date, the Group re-estimates the progress of
completed labor services so that it can reflect changes in contract performance.

When the Group recognizes revenue based on the performance progress of the completed labor services, the portion for which the
Group has obtained the unconditional right to receive payments is recognized as accounts receivable, and the remaining portion is
recognized as contract assets, and the Company measures the loss reserve of accounts receivable and contract assets. According to
the expected credit loss; If the contract price received or receivable by the Group exceeds the completed progress, the excess is
recognized as contract liabilities. The Group presents the contract assets and contract liabilities under the same contract as a net

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amount.

24 .Government grants

Government grants are transfers of monetary or non-monetary assets from the government to the Group at nil consideration,
including tax refund and financial subsidies, etc.

A government grant is recognized when there is a reasonable assurance that the grants will be received and the Group will comply
with all attached conditions. Monetary government grants are measured at the amounts received or receivable. Non-monetary
government grants are measured at fair value, if the fair value cannot be reliably obtained, it is measured at nominal amount.

The government grants related to assets refer to government grant obtained by enterprises and used for purchase and construction of
long-term assets or formation of long-term asset in other ways. The government grants related to income refer to grants other than
those related to assets.

For government grants related to income, where the grant is a compensation for related expenses or losses to be incurred by the
Group in the subsequent periods, the grant is recognized as deferred income, and included in profit or loss over the periods in which
the related costs are recognized; where the grant is a compensation for related expenses or losses already incurred by the Group, the
grant is recognized immediately in profit or loss for the current period.The company use the same method of presentation for similar
government grants.

The ordinary activity government grants should be counted into operating profits; the government grants which not belong to
ordinary activities should be counted into non-operating income.

25. Deferred tax assets / deferred tax liabilities

Deferred tax assets and deferred tax liabilities are calculated and recognized based on the differences arising between the tax bases of
assets and liabilities and their carrying amounts (temporary differences). Deferred tax asset is recognized for the deductible losses
that can be carried forward to subsequent years for deduction of the taxable profit in accordance with the tax laws. No deferred tax
liability is recognized for a temporary difference arising from the initial recognition of goodwill. No deferred tax asset or deferred tax
liability is recognized for the temporary differences resulting from the initial recognition of assets or liabilities due to a transaction
other than a business combination, which affects neither accounting profit nor taxable profit (or deductible loss). At the balance sheet
date, deferred tax assets and deferred tax liabilities are measured at the tax rates that are expected to apply to the period when the
asset is realized or the liability is settled.

Deferred tax assets are only recognized for deductible temporary differences, deductible losses and tax credits to the extent that it is
probable that taxable profit will be available in the future against which the deductible temporary differences, deductible losses and
tax credits can be utilized.

Deferred tax liabilities are recognized for temporary differences arising from investments in subsidiaries and associates, except where
the Group is able to control the timing of reversal of the temporary difference, and it is probable that the temporary difference will
not reverse in the foreseeable future. When it is probable that the temporary differences arising from investments in subsidiaries and
associates will be reversed in the foreseeable future and that the taxable profit will be available in the future against which the
temporary differences can be utilized, the corresponding deferred tax assets are recognized.

Deferred income tax assets and deferred income tax liabilities that meet the following conditions at the same time are listed as the net
amount after offset:
The deferred taxes are related to the same tax payer within the Group and the same taxation authority;
That tax payer within the Group has a legally enforceable right to offset current tax assets against current tax liabilities.

26 .Leases

A leasing is a contract in which the lessor cedes the right to use an asset to the lessee for a certain period of time in return for
consideration.


(a) The Group acts as the lessee

The Company recognizes the right-of-use assets on the commencement date of the lease term and recognizes the lease liabilities at
the present value of the outstanding lease payments. The lease payments include fixed payments, as well as payments where there is


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reasonable certainty that a purchase option will be exercised or a lease option will be terminated. The variable rent determined based
on a certain percentage of sales is not included in the lease payment, and is included in the current profit and loss when it actually
occurs. The Group will list the non-liabilities within one year that lease liabilities will be paid one year. from the balance sheet date.

On the commencement date, the Company shall initially measure the right-of-use asset at cost. The cost of the right-of-use asset shall
comprise the amount of the initial measurement of the lease liability and any lease payments made at or before the commencement
date, and any initial direct costs incurred by the lessee etc, less any lease incentives received, If ownership of the leased asset
transfers to the Group at the end of the lease term, depreciation is calculated using the estimated useful life of the asset. Otherwise,
the right-of-use assets are depreciated over the shorter of the lease term and the estimated useful lives of the assets. Where the
carrying amount of an asset or a cash generating unit exceeds its recoverable amount, the asset or cash generating unit is considered
impaired and is written down to its recoverable amount.

A short-term lease is a lease that, at the commencement date, has a lease term of 12 months or less, and has a low-value asset leases.
The Group does not recognize the right-of-use assets and lease liabilities. The Group recognizes lease payments on short-term leases
and leases of low-value assets in the related asset costs or profit or loss on a straight-line basis over the lease term.

The Group accounts for a lease modification as a separate lease if both:(1) the modification increases the scope of the lease by adding
the right to use one or more underlying assets; (2) the consideration for the lease increases by an amount commensurate with the
stand-alone price for the increase in scope and any appropriate adjustments to that stand-alone price to reflect the circumstances of
the particular contract.

For a lease modification that is not accounted for as a separate lease, at the effective date of the lease modification the Group
remeasures the lease liability by discounting the revised lease payments using a revised discount rate. Decreasing the carrying
amount of the right-of-use asset to reflect the partial or full termination of the lease for lease modifications that decrease the scope of
the lease. The Group recognizes in profit or loss any gain or loss relating to the partial or full termination of the lease. Other lease
modifications will remeasure lease liabilities, and the group will make a corresponding adjustment to the right-of-use asset book
value.


(b) The Group acts as the lessor

A lease that transfers substantially all the risks and rewards associated with the ownership of the leased asset is a finance lease. Other
leases are operating leases.

(i)    Operating lease

When the Company operates leased buildings, machinery and equipment, and means of transport, the rental income from operating
leases shall be recognized in accordance with the straight-line method during the lease term. The Company will include variable rent
determined based on a percentage of sales in rental income when it actually incurs. For any modification to an operating lease, the
Group treats it as a new lease from the effective date of the modification, and the received or receivable lease payments related to the
lease prior to the modification are treated as lease payments of the new lease.

(ii)    Finance lease

On the beginning date of the lease term, the Company recognizes the finance lease receivables for finance leases and derecognizes
related assets. The Company presents the finance lease receivables as long-term receivables, and the finance lease receivables
received within one year (including one year) from the balance sheet date are presented as non-current assets due within one year.

27. Other important accounting policies and accounting estimates

The Group continually Estimates the critical accounting estimates and key assumptions applied based on historical experience and
other factors, including expectations of future events that are believed to be reasonable.

The critical accounting estimates and key assumptions that have a significant risk of possibly causing a material adjustment to book
values of assets and liabilities within the next accounting year are outlined below:




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(a) Income tax
The Group is subject to Income tax in numerous jurisdictions. There are some transactions and events for which the ultimate tax
determination is uncertain during the ordinary course of business. Significant judgement is required from the Group in determining
the provision for Income tax in each of these jurisdictions. Where the final identified outcome of these tax matters is different from
the initially-recorded amount, such difference will impact the income tax expenses and deferred income tax in the period in which
such determination is finally made.


(b) Deferred income tax
Estimates on deferred tax assets are based on estimates on amount of taxable income and applicable tax rate for every year.
Realisation of deferred income tax is subject to sufficient taxable income that is possible to be obtained by the Group in the future.
Change of the future tax rate as well as the reversed time of temporary difference might have effects on tax expense (income) and the
balance of deferred tax assets or liabilities. Those estimates may also cause significant adjustment on deferred tax.


(c) Impairment of long-term assets (excluding goodwill)
Long-term assets at the balance sheet date should be subject to impairment testing if there are any indications of impairment.
Management determines whether the long-term assets impaired or not by evaluating and analysing following aspects: (1) whether the
event affecting assets impairment occurs; (2) whether the expected obtainable present value of future cash flows is lower than the
asset’s carrying amount by continually using the assets or disposal; and (3) whether the assumptions used in expected obtainable
present value of future cash flows are appropriate.

Various assumptions, including the discount rate and growth rate applied in the method of present value of future cash flow, are
required in evaluating the recoverable amount of assets. If these assumptions cannot be conformed, the recoverable amount should be
modified, and the long-term assets may be impaired accordingly.


(d) The useful life of fixed assets
Management estimates the useful life of fixed assets, based on historical experiences on using fixed assets that have similar
properties and functions. When there are differences between actually useful life and previously estimation, management will adjust
estimation to useful life of fixed assets. The fixed assets would be written off or written down when fixed assets been disposed or
became redundant. Thus, the estimated result based on existing experience may be different from the actual result of the next
accounting period, which may cause major adjustment to book value of fixed assets on balance sheet.


(e) Goodwill impairment
Goodwill impairment reviews are undertaken annually or more frequently if events or changes in circumstances indicate a potential
impairment. For the purpose of impairment testing, goodwill acquired in a business combination is allocated to each of the
cash-generating units (“CGUs”), or groups of CGUs, and future cash flow from each CGU or CGUs is forcasted and discounted with
appropriate discount rate.

28. Significant accounting policies and changes in accounting estimates

(1)Important accounting policy changes

√ Applicable □Not applicable
Contents and reasons for changes in accounting
                                                       Approval procedure                    Remark
policy
On December 31, 2021, the Ministry of Finance
promulgated the "Notice on Printing and Issuing"
                                                       The ninth meeting of the ninth
(Cai Kuai [2021] No. 35) (hereinafter referred to
                                                       board of directors and the ninth
as "Standard Interpretation No. 15"), regarding
                                                       meeting of the ninth board of
the company's fixed assets before they reach the
                                                       supervisors held on April 28, 2022    The adoption of Interpretation No. 15
intended use state or The accounting treatment of
                                                       reviewed     and    approved    the   did not have a significant impact on
external sales of products or by-products
                                                       company's disclosure of accounting    the financial position and operating
produced in the R&D process and the judgment
                                                       statements in accordance with the     results of the Company.
on loss-making contracts have been clarified.
                                                       requirements       of     Standard
Standard Interpretation No. 15 "Accounting
                                                       Interpretation No. 15 from January
treatment of external sales of products or
                                                       1, 2022.
by-products produced by enterprises before their
fixed assets reach their intended usable state or in

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the process of research and development" and
"Judgment on onerous contracts" from January 1,
2022 to be implemented.


(2)Important accounting estimate changes

□ Applicable √Not applicable

29. Others

(1)Safety production costs

According to relevant regulations of the Ministry of Finance and National Administration of Work Safety, a subsidiary of the Group
which is engaged in producing and selling polysilicon appropriates safety production costs on following basis:
(a) 4% for revenue below RMB10 million (inclusive) of the year;
(b) 2% for the revenue between RMB10 million to RMB100 million (inclusive) of the year;
(c) 0.5% for the revenue between RMB100 million to RMB1 billion (inclusive) of the year;
(d) 0.2% for the revenue above RMB1 billion of the year.

The safety production costs are mainly used for the overhaul, renewal and maintenance of safety facilities. The safety production
costs are charged to costs of related products or profit or loss when appropriated, and safety production costs in equity account are
credited correspondingly. When using the special reserve, if the expenditures are expenses in nature, the expenses incurred are offset
against the special reserve directly when incurred. If the expenditures are capital expenditures, when projects are completed and
transferred to fixed assets, the special reserve should be offset against the cost of fixed assets, and a corresponding accumulated
depreciation are recognized. The fixed assets are no longer be depreciated in future.


(2)Segment information

The Group identifies operating segments based on the internal organisation structure, management requirements and internal
reporting system, and discloses segment information of reportable segments which is determined on the basis of operating segments.

An operating segment is a component of the Group that satisfies all of the following conditions: (a) the component is able to earn
revenue and incur expenses from its ordinary activities; (b) whose operating results are regularly reviewed by the Group’s
management to make decisions about resources to be allocated to the segment and to assess its performance, and (c) for which the
information on financial position, operating results and cash flows is available to the Group. If two or more operating segments have
similar economic characteristics and satisfy certain conditions, they are aggregated into one single operating segment.


VI.Taxation

1. The main categories and rates of taxes

                Category                                  Taxable basis                                  Tax rate
Enterprise income tax                       Taxable income                                                               0%-25%
                                            Taxable value-added amount (Tax
                                            payable is calculated using the taxable
Value-added tax (“VAT”)                   sales amount multiplied by the applicable                                    1%-13%
                                            tax rate less deductible VAT input of the
                                            current period)
City maintenance and construction tax       VAT paid                                                                      1%-7%
Educational surcharge                       VAT paid                                                                           5%




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2. Tax incentives

Tianjin CSG Energy-Saving Glass Co., Ltd. (“Tianjin Energy Conservation”) passed review on a high and new tech enterprise in
2021 and obtained the Certificate of High and New Tech Enterprise, the period of validity is three years. It applies to 15% tax rate for
three years since 2021.

Dongguan CSG Architectural Glass Co., Ltd. (“Dongguan CSG”) passed review on a high and new tech enterprise in 2019 and
obtained the Certificate of High and New Tech Enterprise, the period of validity is three years. It applies to 15% tax rate for three
years since 2019. In the 2022 high-tech enterprise qualification review, the income tax rate of 15% will be temporarily applied during
the reporting period.

Wujiang CSG East China Architectural Glass Co., Ltd. (“Wujiang CSG Engineering”) passed review on a high and new tech
enterprise in 2020 and obtained the Certificate of High and New Tech Enterprise, the period of validity is three years. It applies to
15% tax rate for three years since 2020.

Dongguan CSG Solar Glass Co., Ltd. (“Dongguan CSG Solar”) passed review on a high and new tech enterprise in 2020 and
obtained the Certificate of High and New Tech Enterprise, the period of validity is three years. It applies to 15% tax rate for three
years since 2020.

Yichang CSG Polysilicon Co., Ltd. (“Yichang CSG Polysilicon”) passed review on a high and new tech enterprise in 2020 and
obtained the Certificate of High and New Tech Enterprise, the period of validity is three years. It applies to 15% tax rate for three
years since 2020.

Dongguan CSG PV-tech Co., Ltd. (“Dongguan CSG PV-tech”) passed review on a high and new tech enterprise in 2019 and
obtained the Certificate of High and New Tech Enterprise, the period of validity is three years. It applies to 15% tax rate for three
years since 2019.In the 2022 high-tech enterprise qualification review, the income tax rate of 15% will be temporarily applied during
the reporting period.

Hebei Shichuang Glass Co., Ltd. (“Hebei Shichuang”) passed review on a high and new tech enterprise in 2019 and obtained the
Certificate of High and New Tech Enterprise, the period of validity is three years. It applies to 15% tax rate for three years since
2019.In the 2022 high-tech enterprise qualification review, the income tax rate of 15% will be temporarily applied during the
reporting period.

Wujiang CSG Glass Co., Ltd. (“Wujiang CSG”) passed review on a high and new tech enterprise in 2020, and obtained the
Certificate of High and New Tech Enterprise, and the period of validity was three years. It applies to 15% tax rate for three years
since 2020.
Xianning CSG Glass Co Ltd. (“Xianning CSG”) passed review on a high and new tech enterprise in 2020, and obtained the
Certificate of High and New Tech Enterprise, and the period of validity was three years. It applies to 15% tax rate for three years
since 2020.

Xianning CSG Energy-Saving Glass Co., Ltd. (“Xianning CSG Energy-Saving”) passed review on a high and new tech enterprise in
2021, and obtained the Certificate of High and New Tech Enterprise, and the period of validity was three years. It applies to 15% tax
rate for three years since 2021.

Yichang CSG Photoelectric Glass Co., Ltd. (“Yichang CSG Photoelectric”) passed review on a high and new tech enterprise in 2021,
and obtained the Certificate of High and New Tech Enterprise, and the period of validity was three years. It applies to 15% tax rate
for three years since 2021.

Yichang CSG Display Co., Ltd (“Yichang CSG Display”) passed review on a high and new tech enterprisein 2021, and obtained
the Certificate of High and New Tech Enterprise, and the period of validity was three years. It applies to 15% tax rate for three years
since 2021.

Qingyuan CSG New Energy-Saving Materials Co., Ltd. (“Qingyuan CSG Energy-Saving”) passed review on a high and new tech
enterprise in 2019, and obtained the Certificate of High and New Tech Enterprise, and the period of validity was three years. It
applies to 15% tax rate for three years since 2019.In the 2022 high-tech enterprise qualification review, the income tax rate of 15%
will be temporarily applied during the reporting period.

Hebei CSG Glass Co Ltd. (“Hebei CSG”) passed review on a high and new tech enterprise in 2021, and obtained the Certificate of
High and New Tech Enterprise, and the period of validity was three years. It applies to 15% tax rate for three years since 2021.

Shenzhen CSG Applied Technology Co Ltd. (“Shenzhen Technology”) passed review on a high and new tech enterprise in 2021,
and obtained the Certificate of High and New Tech Enterprise, and the period of validity was three years. It applies to 15% tax rate
for three years since 2021.

Xianning CSG Photoelectric Glass Co., Ltd. (“Xianning Photoelectric”) passed review on a high and new tech enterprise in 2019 and

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obtained the Certificate of High and New Tech Enterprise, the period of validity is three years. It applies to 15% tax rate for three
years since 2019.In the 2022 high-tech enterprise qualification review, the income tax rate of 15% will be temporarily applied during
the reporting period.

Dongguan CSG Crystal Yuxin Materials Co., Ltd. (“Dongguan Jing Yu Company”) passed review on a
high and new tech enterprise in 2021 and obtained the Certificate of High and New Tech Enterprise, the period of validity is three
years. It applies to 15% tax rate for three years since 2021.

Sichuan CSG Energy Conservation Glass Co., Ltd. (“Sichuan CSG Energy Conservation”) obtains enterprise income tax preferential
treatment for Western Development, and temporarily calculates enterprise income tax at a tax rate of 15% for current year.

Chengdu CSG Glass Co., Ltd. (“Chengdu CSG”) obtains enterprise income tax preferential treatment for Western Development, and
temporarily calculates enterprise income tax at a tax rate of 15% for current year.

Xian CSG Energy Conservation Glass Co., Ltd. (“Xian CSG Energy Conservation”) obtains enterprise income tax preferential
treatment for Western Development, and temporarily calculates enterprise income tax at a tax rate of 15% for current year.

Guangxi CSG New Energy Materials Technology Co., Ltd. ( “Guangxi CSG New Energy Materials Company”) obtains enterprise
income tax preferential treatment for Western Development, and temporarily calculates enterprise income tax at a tax rate of 15% for
current year.

Zhaoqing CSG New Energy Technology Co., Ltd. ( “Zhaoqing CSG New Energy Company”),Zhangzhou CSG Kibing PV Energy
Co., Ltd. (“Zhangzhou CSG PV Energy”), Heyuan CSG Kibing PV Energy Co., Ltd. (“Heyuan CSG”), and Shaoxing CSG Kibing
New Energy Co., Ltd. (“Shaoxing CSG New Energy”), Xianning CSG PV Energy Co., Ltd. (“Xianning PV Energy”), Zhanjiang
CSG New Energy Co., Ltd. (“Zhanjiang PV Energy”), are public infrastructure project specially supported by the state in accordance
with the Article 87 in Implementing Regulations of the Law of the People's Republic of China on Enterprise Income Tax, and can
enjoy the tax preferential policy of “three-year exemptions and three-year halves”, that is, starting from the tax year when the first
revenue from production and operation occurs, the enterprise income tax is exempted from the first to the third year, while half of the
enterprise income tax is collected for the following three years.




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3. Others

Some subsidiaries of the Group have used the “exempt, credit, refund” method on goods exported and the refund rate is0%-13%。


VII. Notes to the consolidated financial statements

1. Cash at bank and on hand

                                                                                                                                Unit: RMB
                      Item                              Balance at the end of the period          Balance at the beginning of the period
Cash on hand                                                                             130
Cash at bank                                                                2,523,965,640                                   2,453,477,573
Other cash balances                                                           346,076,771                                    312,448,333
Total                                                                       2,870,042,541                                   2,765,925,906
Including: Total overseas deposits                                             19,686,544                                      8,906,359
The total amount of funds that have restrictions
                                                                                6,076,772                                      9,448,334
on use due to mortgages, pledges, or freezes



2 .Trading financial assets

                                                                                                                                Unit: RMB
                   Item                            Balance at the end of the period            Balance at the beginning of the period
Financial assets measured at fair value
                                                                         1,209,000,000                                       999,600,000
through profit or loss
     Of which:
Structured deposits                                                      1,209,000,000                                       999,600,000
Total                                                                    1,209,000,000                                       999,600,000


3. Notes receivable


(1)Notes receivable listed by classification

                                                                                                                                Unit: RMB
                   Item                            Balance at the end of the period            Balance at the beginning of the period
Trade acceptance notes                                                         445,375                                        19,220,984
Total                                                                          445,375                                        19,220,984


                                                                                                                                Unit: RMB
                          Balance at the end of the period                            Balance at the beginning of the period
                                      Provision for bad                                               Provision for bad
                 Carrying amount                                          Carrying amount
Category                                    debts                                                           debts
                                                             Book
                                                    Prop                                                            Prop      Book value
                              Propo                          value                       Propor
                 Amount               Amount        ortio                Amount                       Amount        ortio
                              rtion                                                       tion
                                                      n                                                               n


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Notes
receivable
with
provision
               2,226,877       100%     1,781,502    80%      445,375        28,438,249        71%      20,778,806      73%       7,659,443
for bad
debts on a
single
item basis
Notes
receivable
with bad
debt                                                                         11,561,541        29%                               11,561,541
provision
based on
portfolio
Total          2,226,877       100%     1,781,502    80%      445,375        39,999,790       100%      20,778,806      52%      19,220,984

Provision for bad debts on the individual basis:
                                                                                                                                  Unit: RMB
                                                                               Closing balance
             Name                                     Provision
                                       Carrying
                                                       for bad              Proportion                  Reasons for withdrawal
                                       amount
                                                        debts
                                                                                             It mainly represented trade acceptance notes
Notes receivable with                                                                        due from evergrande of the part of subsidiary,
provision for bad debts on a             2,226,877        1,781,502                80%       due to difficult to pay or deterioration of cash
single item basis                                                                            operations, the provision for bad debts was
                                                                                             fully or partially accrued.
Total                                    2,226,877        1,781,502


(2)Provision for bad debts accrued, recovered or reversed in the current period


Provision for bad debts in the current period:
                                                                                                                                  Unit: RMB
                                                            Amount of change in the current period
                           Opening                                                                        Transfer to
        Category                                                Collect or                                                  Closing balance
                           balance            Provision                                  Write-off         Accounts
                                                                 reversal
                                                                                                          Receivable
Individual provision
                           20,778,806                                                                        18,997,304           1,781,502
for bad debts
Total                      20,778,806                                                                        18,997,304           1,781,502


( 3)At the end of the period, the company transferred the bills to accounts receivable due to the failure of the drawer to
perform

                                                                                                                                  Unit: RMB
                                Item                                        Amount of receivables transferred at the end of the period
Trade acceptance notes                                                                                                           27,584,466
Total                                                                                                                            27,584,466




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    4.Accounts receivable


    (1)Accounts receivable disclosed by category

                                                                                                                                       Unit: RMB
                                            End of term                                                          Beginning of term
                                             Provision for bad                                                       Provision for bad
                   Carrying amount                                                       Carrying amount
                                                   debts                                                                   debts
 Category
                                                                     Book value                          Prop                        Prop    Book value
                              Propor                       Propo
                   Amount                    Amount                                      Amount          ortio       Amount          ortio
                               tion                        rtion
                                                                                                           n                           n
Provision
for bad
debts on
               182,594,849      19%         120,581,801     66%       62,013,048       159,936,493       19%        103,566,693       65%     56,369,800
the
individual
basis
Provision
for bad
               796,194,994      81%          15,924,375      2%      780,270,619       687,914,171       81%         13,758,284        2%    674,155,887
debts by
portfolio
Total          978,789,843     100%         136,506,176     14%      842,283,667       847,850,664      100%        117,324,977       14%    730,525,687



    Provision for bad debts on the individual basis:
                                                                                                                                       Unit: RMB
                                                                              Closing balance
             Name              Carrying            Provision for
                                                                     Proportion                        Reasons for withdrawal
                               amount               bad debts
                                                                                      It mainly represented the goods receivable due from a
    Provision for bad
                                                                                      client of the part of subsidiary, due to business
    debts on the                182,594,849            120,581,801            66%
                                                                                      dispute or deterioration of customer operations, the
    individual basis
                                                                                      provision for bad debts was fully or partially accrued.
    Total                       182,594,849            120,581,801



    Provision for bad debts by portfolio:
                                                                                                                                         Unit: RMB

                                                                                    Closing balance
                   Name
                                               Carrying amount                 Provision for bad debts                    Proportion
    Portfolio 1                                           796,194,994                           15,924,375                                   2%
    Total                                                 796,194,994                           15,924,375


    Disclosure by the aging of accounts receivable
                                                                                                                                         Unit: RMB

                                 Aging                                                                Closing balance
    Within 1 year (including 1 year)                                                                                                 708,817,267
    1 to 2 years                                                                                                                     170,870,147


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2 to 3 years                                                                                                                 48,962,202
Over 3 years                                                                                                                 50,140,227
Total                                                                                                                     978,789,843


(2)Provision for bad debts accrued, recovered or reversed in the current period


Provision for bad debts in the current period:
                                                                                                                                Unit: RMB

                                                             Amount of change in the current period
                             Opening                                                                                         Closing
        Category                                               Bills receivable      Collect or
                             balance            Provision                                                Write-off           balance
                                                                transferred in        reversal
Accounts receivable
                             117,324,977         6,976,393           18,997,304        5,880,424             912,074      136,506,176
bad debt provision
Total                        117,324,977         6,976,393           18,997,304        5,880,424             912,074      136,506,176


(3)Accounts receivable actually written off in the current period


                                                                                                                              Unit: RMB

                                Item                                                         Amount written off
Accounts receivable from subsidiaries                                                                                           912,074


(4)Top 5 of the closing balance of the accounts receivable collected according to the arrears party


                                                                                                                                Unit: RMB
                                                                       Proportion in the total balance
                                       Closing balance of accounts                                         Ending balance of bad debt
               Name                                                     of accounts receivable at the
                                               receivable                                                          reserves
                                                                              end of the period
Total balances for the five
                                                       328,308,132                                34%                        49,011,582
largest accounts receivable
Total                                                  328,308,132                                34%


5.Receivables financing


                                                                                                                                Unit: RMB
                      Item                                   Closing balance                               Opening balance
Bank acceptance notes                                                          582,328,808                                297,046,123
Total                                                                          582,328,808                                297,046,123


6. Advances to suppliers


(1)Listed by aging analysis


                                                                                                                                Unit: RMB
                                                Closing balance                                       Opening balance
          Aging
                                       Amount                   Proportion                                              Amount



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                                                                                                            CSG Semi-annual Report 2022


within1year                           234,152,262                          100%                  74,971,763                       98%
1 to 2years                                618,299                                                  486,849                         1%
2 to 3years                                 35,000                                                  520,498                         1%
over 3 years                               520,498                                                  118,166
Total                                 235,326,059                                                76,097,276


(2)Top 5 of the closing balance of the advances to suppliers collected according to the target

                                                                                                                              Unit: RMB
                                                                                              Percentage in total advances to suppliers
                           Item                                      Balance
                                                                                                              balance
Total balances for the five largest advances to
                                                                           135,780,759                                             58%
suppliers


7. Other receivables

                                                                                                                              Unit: RMB
                    Item                                      Closing balance                              Opening balance
Other receivables                                                               201,090,652                               183,696,711
Total                                                                           201,090,652                               183,696,711


(1)Other receivables


1)Classification of other receivables by nature

                                                                                                                              Unit: RMB
                   Nature                                Closing book balance                          Opening book balance
Receivables from special fund for talent                                        171,000,000                               171,000,000
Payments made on behalf of other parties                                         48,887,030                                  47,686,819
Advance payment (i)                                                              10,366,164                                  10,366,164
Refundable deposits                                                              19,669,918                                   9,191,412
Petty cash                                                                        1,572,171                                    497,273
Others                                                                           13,123,214                                   8,110,638
Total                                                                           264,618,497                               246,852,306
(i) It is the prepayment for materials of the subsidiary Yingde CBM Mining Co., Ltd. The prepayments accounts were transferred to
other receivables and the provision of the bad debts was provided individually.


2)Withdrawal of bad debt provision

                                                                                                                              Unit: RMB
                                           Phase I                    Phase II                 Phase III
                                                                Expected credit loss      Expected credit loss
         Bad debt provision           Expected credit                                                                     Total
                                                               for the entire duration   for the entire duration
                                    losses in the next 12
                                                               (no credit impairment       (credit impairment
                                           months
                                                                      occurred)                 occurred)
Balance on1 January 2022                          1,166,526                                         61,989,069               63,155,595
Balance on1 January 2022in
current period

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Withdrawal                                       412,069                                                                       412,069
Recovery                                          15,816                                                                        15,816
Write-off                                         24,003                                                                        24,003
Balance on 30 June 2022                        1,538,776                                              61,989,069            63,527,845


3)Disclosure by the aging of other receivables


                                                                                                                               Unit: RMB

                               Aging                                                             Closing balance
Within 1 year (including 1 year)                                                                                            55,141,858
1 to 2 years                                                                                                                 8,856,860
2 to 3 years                                                                                                                   910,743
Over 3 years                                                                                                               199,709,036
   3 to 4 years                                                                                                              2,619,497
   4 to 5 years                                                                                                              2,042,730
   Over 5 years                                                                                                            195,046,809
Total                                                                                                                      264,618,497

4)Provision for bad debts withdrawn, recovered or reversed during the report period

Provision for bad debts:
                                                                                                                              Unit: RMB
                                                          Amount of change in the current period
                      Opening
   Category                                                   Collect or                                               Closing balance
                      balance              Provision                                 Write-off            Others
                                                               reversal
Provision for
bad debts of
                           63,155,595          412,069                15,816              24,003                            63,527,845
other
receivables
Total                      63,155,595          412,069                15,816              24,003                            63,527,845


5)Other receivables actually written off in the current period

                                                                                                                              Unit: RMB
                                Item                                                             Write-off amount
Other receivables                                                                                                               24,003


6)Top 5 of the closing balance of the other accounts receivable collated according to the arrears party

                                                                                                                              Unit: RMB
                                                                                                 Proportion in the
                                                                                                  total balance of
                                                                                                                     Closing balance of
Name of Company       Nature of business       Closing balance             Aging                 other receivables
                                                                                                                     bad debt provision
                                                                                                 at the end of the
                                                                                                       period
                      Independent third
                                                       171,000,000             Over 5 years                   65%           51,300,000
Company A               party

Governmental          Independent third                 24,000,000         Within 1 year                       9%              480,000

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department B              party
Governmental          Independent third                  11,556,004            Over 5 years                 4%               231,120
department C            party
                      Independent third
Company D                                                10,366,164            Over 5 years                 4%             10,366,164
                        party
Governmental          Independent third                  10,000,000          Within 1 year                  4%               200,000
department E            party
Total                                                   226,922,168                                        86%             62,577,284


8. Inventories


(1) Inventory classification

                                                                                                                            Unit: RMB
                                      Closing balance                                              Opening balance

     Item                              Reserve for                                                  Reserve for
                     Carrying                                                      Carrying
                                      depreciation of        Book value                            depreciation of    Book value
                     amount                                                        amount
                                        inventory                                                    inventory
Raw materials       697,911,751              976,330          696,935,421           389,937,319          1,002,085      388,935,234
Products in
                     32,012,843                                 32,012,843           22,801,437                            22,801,437
process
Products in
                    984,442,555            1,851,314          982,591,241           632,814,981          5,829,059      626,985,922
stock
Material in
                     55,533,224              160,330            55,372,894           55,480,764           397,832          55,082,932
circulation
Total              1,769,900,373           2,987,974         1,766,912,399        1,101,034,501          7,228,976    1,093,805,525


(2)Provision for decline in the value of inventories


                                                                                                                              单位:元
                                              Increased in this term                   Decreased in this term
                       Opening
        Item                                                                       Reversal or                       Closing balance
                       balance             Provision             Others                                 Others
                                                                                    write off
Raw materials             1,002,085                                                       25,755                             976,330
Products in
                          5,829,059                                                    3,977,745                            1,851,314
stock
Material in
                            397,832                                                      237,502                             160,330
circulation
Total                     7,228,976                                                    4,241,002                            2,987,974


9.Other current assets

                                                                                                                            Unit: RMB
                   Item                                      Closing balance                             Opening balance
VAT to be offset                                                                50,432,826                              128,033,622
Enterprise income tax prepaid                                                    8,211,086                                  3,771,709
VAT input to be recognized                                                       9,956,323                                  8,888,295
Others                                                                              16,435                                    11,672
Total                                                                           68,616,670                              140,705,298


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10. Investment property

(1)Investment real estate using cost measurement model

□Applicable      √Not applicable

(2)Investment property with fair value measurement mode

√Applicable □ Not applicable
                                                                                                                             Unit: RMB
                                                 Houses, buildings and related land use
                     Item                                                                                                      Total
                                                                 rights
I. Opening balance                                                            383,084,500                             383,084,500
II. Changes in the current period
III. Closing balance                                                          383,084,500                             383,084,500


11. Fixed assets

                                                                                                                           Unit: RMB
                     Item                                   Closing balance                             Opening balance
Fixed assets                                                               9,336,413,529                             8,566,515,026
Total                                                                      9,336,413,529                             8,566,515,026


(1)Particulars of fixed assets

                                                                                                                           Unit: RMB
                                                            Machinery and
         Item                        Buildings                                         Motor vehicles                Total
                                                             equipment
I. Original book value:
1. Opening balance                     4,175,491,233            12,040,306,471               257,186,014            16,472,983,718
2. Increased amount of
the period
(1) Acquisition                            2,061,137                21,622,510                 8,356,693                  32,040,340
(2) Transfers from
construction in                         388,181,424              1,841,384,996                 6,455,298             2,236,021,718
progress
(3)Increase in business
mergers
(4) Others                                                           3,107,362                 2,009,907                   5,117,269
3. Decreased amount of
the period
(1) Disposal or
                                            243,357                 31,222,551                 7,380,031                  38,845,939
retirement
(2) Transfer to
construction in                         183,920,987                324,752,456                   401,729              509,075,172
progress
(3) Others                                 1,721,971                     822,894                 180,124                   2,724,989
4. Closing balance                     4,379,847,479            13,549,623,438               266,046,028            18,195,516,945
II. Accumulative


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                                                     Machinery and
         Item                  Buildings                                       Motor vehicles                  Total
                                                      equipment
depreciation

1. Opening balance               1,129,349,070             5,532,791,435              230,711,343              6,892,851,848
2. Increased amount of
the period
(1) Provision                       63,927,057              358,444,891                 13,123,636               435,495,584
(2) Others                                                        908,372                  287,308                  1,195,680
3. Decreased amount of
the period
(1) Disposal or
                                           34,034             5,782,357                  7,232,019                 13,048,410
retirement
(2) Transfer to
construction in                     47,589,170              240,194,191                    299,369               288,082,730
progress
(3) Others                             372,612                    155,946                    6,861                     535,419
4. Closing balance               1,145,280,311             5,646,012,204              236,584,038              7,027,876,553
III. Impairment
provision
1. Opening balance                  59,901,148              953,451,046                    264,650             1,013,616,844
2. Increased amount of
the period
(1) Construction in
                                   111,232,516              730,885,926                    528,767               842,647,209
progress transferred in
3. Decreased amount of
the period
(1) Disposal or scrap                                        25,037,190                                            25,037,190
4. Closing balance                 171,133,664             1,659,299,782                   793,417             1,831,226,863
IV. Book value
1. Closing book value            3,063,433,504             6,244,311,452                28,668,573             9,336,413,529
2. Opening book value            2,986,241,015             5,554,063,990                26,210,021             8,566,515,026


(2)Fixed assets with pending certificates of ownership

                                                                                                                    Unit: RMB
                                                                                    Reasons for not yet obtaining certificates
                     Item                           Carrying amount
                                                                                                     of title
                                                                                    Have submitted the required documents
                                                                                    and are in the process of application, or
Buildings                                                            783,783,208
                                                                                    the related land use right certificate
                                                                                    pending


12. Construction in process

                                                                                                                    Unit: RMB
                  Item                               Closing balance                            Opening balance
Construction in process                                             2,809,337,684                              2,461,088,650
Total                                                               2,809,337,684                              2,461,088,650



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 (1) Particulars of construction in process

                                                                                                           Unit: RMB
                                      Closing balance                                    Opening balance

      Item                             Provision for
                                                                                          Provision for
                    Book balance        impairment      Book value      Book balance                         Book value
                                                                                         impairment loss
                                           loss
Yichang CSG
polysilicon
                                                                         1,535,368,156       857,890,185       677,477,971
tech-innovation
project
Anhui
Lightweight &
high-permeability
panel for solar
                      1,541,203,471                     1,541,203,471     765,170,527                          765,170,527
energy
equipment
manufacturing
base project
Qingyuan New
Materials Phase I
technical              221,679,025        94,897,537     126,781,488      297,932,280        174,675,600       123,256,680
transformation
project
Zhaoqing CSG
high-grade
energy saving            55,183,034                        55,183,034     279,138,811                          279,138,811
glass production
line project
Dongguan PV B
Building 450MW
PERC battery           186,866,743       184,998,076        1,868,667     186,866,743        184,998,076         1,868,667
technology
upgrade project
Tianjin
Energy-saving
Coating
                                                                           95,225,037                           95,225,037
Production Line
Purchase and
Upgrade Project
Xianning CSG
1200T/D
Photovoltaic
Packaging              287,738,732                       287,738,732       66,449,089                           66,449,089
Material
Production Line
Project

Anhui Fengyang
quartz sand                 253,100                          253,100       56,656,483                           56,656,483
project

Wujiang
                         70,192,064                        70,192,064      51,766,295                           51,766,295
Architectural


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                                     Closing balance                                    Opening balance

      Item                            Provision for
                                                                                         Provision for
                    Book balance       impairment      Book value      Book balance                         Book value
                                                                                        impairment loss
                                          loss
Glass newly
building
intelligent
manufacturing
plant
construction
project
Wujiang Float
Lightweight and
High-efficiency
double-glass
                      106,468,188                       106,468,188       39,032,912                           39,032,912
processing
production line
construction
project
LED Sapphire
                        32,420,412       32,420,412                       32,420,412         32,420,412
Substrate Project

Zhaoqing CSG
high-grade
automobile glass        54,688,369                        54,688,369      27,941,928                           27,941,928
production line
project

Hebei Panel
Glass ultra-thin
electronic glass
                        75,707,997                        75,707,997      24,393,421                           24,393,421
Line II
construction
project

Dongguan solar
double-glass
extension
                      274,502,743                       274,502,743         2,389,871                           2,389,871
technology
transformation
upgrade project

Dongguan solar
light and
high-efficiency
double-glass
                         2,000,908                         2,000,908         551,795                             551,795
processing
production line
construction
project
Guangxi Beihai
Photovoltaic
Green Energy             3,080,041                         3,080,041         382,997                             382,997
Industry Park
(Phase I) Project
Hefei CSG                 820,064                           820,064


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                                     Closing balance                                    Opening balance

         Item                         Provision for
                                                                                         Provision for
                    Book balance       impairment      Book value      Book balance                         Book value
                                                                                        impairment loss
                                          loss
Energy-saving
Glass Intelligent
Manufacturing
Industry Base
Project
Dongguan Solar
G6/G7 Line
Process and
                        20,679,019                        20,679,019
Equipment
Upgrading
Project
Others                212,266,126        24,096,327     188,169,799      275,679,766         26,293,600       249,386,166
Total                3,145,750,036      336,412,352    2,809,337,684    3,737,366,523     1,276,277,873     2,461,088,650




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     (2) Changes in important construction projects in the current period

                                                                                                                                                                                Unit: RMB
                                                                                                                                                             Including:     Interest
                                                                                                       Proportion                           Accumulate
                                                                                                                                                              amount        capitaliz
                                                                         Transfer to                     between                            d amount of
                                        Opening       Increased this                      Closing                                                             interest        ation       Fund
      Project          Budget                                          fixed assets in                 engineering    Progress   Projects     interest
                                        balance           term                            balance                                                           capitalizatio    rate in    recourse
                                                                          this term                     input and                           capitalizatio
                                                                                                                                                            n in current     current
                                                                                                          budget                                  n
                                                                                                                                                               period        period
Yichang CSG
                                                                                                                                                                                        Internal
polysilicon
                        49,520,000   1,535,368,156                     1,511,107,324     24,260,832                     100%       100%                                                 fund and
tech-innovation                                                                                                                                                                         bank loan
project
Anhui Lightweight
&
high-permeability                                                                                                                                                                       Internal
panel for solar      3,739,020,000     765,170,527     776,565,916           532,972                  1,541,203,471      41%        85%      17,468,116      15,022,618       4.20%     fund and
energy equipment                                                                                                                                                                        bank loan
manufacturing
base project
Qingyuan New
Materials Phase I                                                                                                                                                                       Internal
technical              534,870,000     297,932,280        4,614,306          363,834     80,503,727    221,679,025        4%          4%                                                fund and
transformation                                                                                                                                                                          bank loan
project

Zhaoqing CSG
high-grade energy                                                                                                                                                                       Internal
saving glass           500,000,000     279,138,811      27,140,143       251,085,070        10,850      55,183,034       74%        89%       5,405,566       1,250,641       3.80%     fund and
production line                                                                                                                                                                         bank loan
project

Dongguan PV B
Building 450MW                                                                                                                                                                          Internal
PERC battery           100,990,000     186,866,743                                                     186,866,743        1%          3%                                                fund and
technology                                                                                                                                                                              bank loan
upgrade project

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                                                                                                                                                      Including:     Interest
                                                                                                 Proportion                          Accumulate
                                                                                                                                                       amount        capitaliz
                                                                       Transfer to                 between                           d amount of
                                       Opening      Increased this                     Closing                                                         interest        ation        Fund
      Project            Budget                                      fixed assets in             engineering   Progress   Projects     interest
                                       balance          term                           balance                                                       capitalizatio    rate in     recourse
                                                                        this term                 input and                          capitalizatio
                                                                                                                                                     n in current     current
                                                                                                    budget                                 n
                                                                                                                                                        period        period
Tianjin
Energy-saving
                                                                                                                                                                                 Internal
Coating
                        114,945,000    95,225,037       5,636,400      100,861,437                               100%       100%       2,644,397       1,134,116          4%     fund and
Production Line                                                                                                                                                                  bank loan
Purchase and
Upgrade Project
Xianning CSG
1200T/D
Photovoltaic                                                                                                                                                                     Internal
Packaging               858,090,000    66,449,089    221,289,643                                 287,738,732      33%        65%      10,778,660       5,655,493       4.52%     fund and
Material                                                                                                                                                                         bank loan
Production Line
Project
                                                                                                                                                                                 Internal
Anhui Fengyang
                       1,029,300,000   56,656,483     83,192,287       139,595,670                   253,100      14%        56%       1,144,948       1,026,584       4.55%     fund and
quartz sand project                                                                                                                                                              bank loan
Wujiang
Architectural
Glass newly                                                                                                                                                                      Internal
building intelligent    179,140,610    51,766,295     18,921,344           495,575                70,192,064      40%        45%         819,017         497,923       3.85%     fund and
manufacturing                                                                                                                                                                    bank loan
plant construction
project
Wujiang Float
Lightweight and
High-efficiency
                                                                                                                                                                                 Internal
double-glass
                        158,850,000    39,032,912     69,360,586         1,925,310               106,468,188      67%        80%       1,212,348         824,392          4%     fund and
processing                                                                                                                                                                       bank loan
production line
construction
project
LED Sapphire             35,000,000    32,420,412                                                 32,420,412      93%        93%       4,650,543                                 Internal

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                                                                                                                                                  Including:     Interest
                                                                                            Proportion                           Accumulate
                                                                                                                                                   amount        capitaliz
                                                                  Transfer to                 between                            d amount of
                                  Opening      Increased this                     Closing                                                          interest        ation       Fund
      Project       Budget                                      fixed assets in             engineering    Progress   Projects     interest
                                  balance          term                           balance                                                        capitalizatio    rate in    recourse
                                                                   this term                 input and                           capitalizatio
                                                                                                                                                 n in current     current
                                                                                               budget                                  n
                                                                                                                                                    period        period
Substrate Project                                                                                                                                                            fund and
                                                                                                                                                                             bank loan
Zhaoqing CSG
high-grade                                                                                                                                                                   Internal
automobile glass    609,830,000   27,941,928     26,746,441                                  54,688,369        9%        13%                                                 fund and
production line                                                                                                                                                              bank loan
project
Hebei Panel Glass
ultra-thin
                                                                                                                                                                             Internal
electronic glass
                    284,964,800   24,393,421     51,867,735           553,159                75,707,997       30%        50%         645,947         645,568       4.35%     fund and
Line II                                                                                                                                                                      bank loan
construction
project
Dongguan solar
double-glass
                                                                                                                                                                             Internal
extension
                    143,490,000    2,389,871    272,112,872                                 274,502,743       57%        60%         461,552         461,552       3.56%     fund and
technology                                                                                                                                                                   bank loan
transformation
upgrade project

Dongguan solar
light and
high-efficiency
                                                                                                                                                                             Internal
double-glass
                     76,140,000     551,795        1,449,113                                   2,000,908      77%       100%                                                 fund and
processing                                                                                                                                                                   bank loan
production line
construction
project




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                                                                                                                                                             Including:     Interest
                                                                                                       Proportion                           Accumulate
                                                                                                                                                              amount        capitaliz
                                                                        Transfer to                      between                            d amount of
                                       Opening       Increased this                      Closing                                                              interest        ation       Fund
        Project        Budget                                         fixed assets in                  engineering    Progress   Projects     interest
                                       balance           term                            balance                                                            capitalizatio    rate in    recourse
                                                                         this term                      input and                           capitalizatio
                                                                                                                                                            n in current     current
                                                                                                          budget                                  n
                                                                                                                                                               period        period

Guangxi Beihai
Photovoltaic                                                                                                                                                                            Internal
Green Energy         4,942,051,800        382,997        2,822,610                         125,566        3,080,041                   2%                                                fund and
Industry Park                                                                                                                                                                           bank loan
(Phase I) Project

Hefei CSG
Energy-saving
                                                                                                                                                                                        Internal
Glass Intelligent
                      210,190,000                          820,064                                         820,064                                                                      fund and
Manufacturing                                                                                                                                                                           bank loan
Industry Base
Project
Dongguan Solar
G6/G7 Line                                                                                                                                                                              Internal
Process and            59,260,000                      20,679,019                                       20,679,019        6%                                                            fund and
Equipment                                                                                                                                                                               bank loan
Upgrading Project
                                                                                                                                                                                        Internal
Others               1,320,351,179    275,679,766     173,035,132       229,501,367       6,947,405    212,266,126                              297,042         221,232                 fund and
                                                                                                                                                                                        bank loan
Total               14,946,003,389   3,737,366,523   1,756,253,611    2,236,021,718     111,848,380   3,145,750,036                          45,528,136      26,740,119




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13. Right of use assets

                                                                                                                          Unit: RMB

             Item                           Lease Land                    Rental housing                        Total

I. Original book value:

1. Opening balance                                   9,770,358                          1,897,983                        11,668,341

2. Increased amount of the
period

3. Decreased amount of the
period

(1) Others                                               473,610                                                           473,610
4. Closing balance                                   9,296,748                          1,897,983                        11,194,731

II. Accumulative depreciation

1. Opening balance                                       942,985                         813,421                          1,756,406

2. Increased amount of the
period

(1) Provision                                            470,592                         406,711                           877,303

3. Decreased amount of the
period

(1) Others                                               473,610                                                           473,610

4. Closing balance                                       939,967                        1,220,132                         2,160,099

III.   Impairment provision

IV. Book value

1. Closing book value                                8,356,781                           677,851                          9,034,632

2. Opening book value                                8,827,373                          1,084,562                         9,911,935


14. Intangible assets

(1) Particulars of intangible assets
                                                                                                                          Unit: RMB

                                                   Patents and           Exploitation
          Item            Land use rights                                                      Others                   Total
                                                   know-how                 rights

I. Original book
value:

1. Opening balance            1,169,898,169              428,988,220         5,651,751          46,713,240         1,651,251,380

2. Increased amount
of this period

(1) Acquisition                 62,606,655                                                          2,708,775           65,315,430



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                                                    Patents and          Exploitation
         Item               Land use rights                                                      Others                 Total
                                                    know-how                 rights

(2) Internal R&D                                          8,010,026                                                       8,010,026

(3) Others                                                                                           165,706                165,706
3. Decreased amount
of the period
(1) Others                                                                                           259,999                259,999

4. Closing balance            1,232,504,824            436,998,246            5,651,751           49,327,722           1,724,482,543

II.Accumulated
amortization

1. Opening balance              230,710,042            194,971,917            4,591,610           40,155,929            470,429,498

2. Increased amount
of this period

(1) Provision                    12,270,060              16,414,041              91,729            2,632,668             31,408,498

3. Decreased amount
of the period

(1) Others                                                                                            91,001                    91,001

4. Closing balance              242,980,102             211,385,958           4,683,339           42,697,596            501,746,995

III. Impairment
provision

1. Opening balance                                       13,201,347                                     9,133            13,210,480

2. Closing balance                                       13,201,347                                     9,133            13,210,480

IV. Book value

1. Closing book value           989,524,722            212,410,941              968,412            6,620,993           1,209,525,068

2. Opening book
                                939,188,127            220,814,956            1,060,141            6,548,178           1,167,611,402
value

At the end of the period, the intangible assets arising from internal research and development accounted for 20.07% of total of
intangible assets.
(2) Land use rights without property right certificates
                                                                                                                           Unit: RMB

                                                                                           Reason for not yet obtaining certificates
                     Item                                   Book value
                                                                                                            of title

Land use rights                                                              4,903,343

As at June 30, 2022, ownership certificates of land use right (“Land ownership Certificates”) for certain land use rights of the Group
with carrying amounts of approximately RMB4,903,343 (cost: RMB6,685,352) had not yet been obtained by the Group (as at
December 31, 2021, carrying amount: RMB4,963,913, cost: RMB6,685,352). The Company’s management is of the view that there
is no legal restriction for the Group to apply for and obtain the Land Ownership Certificates and has no adverse effect on the Group’s
business operation.




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15. Development expenditure

                                                                                                                          Unit: RMB

                                        The increased amount in the
                                                                             The decrease amount in the period
                                                    period
                      Opening
     Item                                                                    Recognized as       Transfer to        Closing balance
                       balance          Internal
                                      development            Others            intangible       current profit
                                      expenditure                                assets           and loss

Development
                        72,019,362       27,709,486                               8,010,026                              91,718,822
expenditure

     Total              72,019,362       27,709,486                               8,010,026                              91,718,822

During Jan.-Jun. 2022, the total amount of research and development expenditures of the Group was RMB 293,587,416 (Jan.-Jun.
2021: RMB 235,137,041), including RMB265,877,930 (Jan.-Jun. 2021: RMB 224,886,882) recorded in income statement for current
period and the research and development expenditure with the amount of RMB 8,010,026 recognized as intangible assets for the
current period (Jan.-Jun. 2021: 1,247,970). At June 30, 2022, the intangible assets arising from internal research and development
accounted for 20.07% of total of intangible assets (31 December 2021: 20.47%).


16. Goodwill

(1) Book value of goodwill


                                                                                                                          Unit: RMB

Name of the companies        Opening balance           Increased this term      Decreased this term              Closing balance

Tianjin CSG
Energy-Saving Glass                    3,039,946                                                                          3,039,946
Co., Ltd.

Xianning CSG
                                       4,857,406                                                                          4,857,406
Photoelectric

Shenzhen CSG Display                 389,494,804                                                                       389,494,804

            Total                    397,392,156                                                                       397,392,156


(2) Goodwill impairment provision


                                                                                                                          Unit: RMB

Name of the companies        Opening balance           Increased this term        Decreased this term            Closing balance

Shenzhen CSG
                                     267,244,297                                                                       267,244,297
Displayer

            Total                    267,244,297                                                                       267,244,297




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17. Long-term prepaid expenses

                                                                                                                             Unit: RMB

         Item                  Opening balance          Increased this term        Amortized this term           Other decreases

Expenses to be
                                        3,013,721                        510,145                289,845                       3,234,021
amortized

         Total                          3,013,721                        510,145                289,845                       3,234,021


18. Deferred income tax assets/deferred income tax liabilities

(1) Unoffset deferred income tax assets


                                                                                                                               Unit: RMB

                                            Closing balance                                      Opening balance
         Item              Deductible temporary         Deferred income tax        Deductible temporary        Deferred income tax
                               difference                      assets                   difference                       assets

Provision for asset
                                     900,912,768                   136,375,295            1,005,602,209                    152,036,386
impairments

Deductible loss                      309,731,654                    59,171,312              621,359,522                    106,718,563

Government grants                    167,900,580                    25,975,215              165,972,475                      25,755,549

Accrued expenses                        6,019,406                        902,911              7,908,397                       1,186,260

Inventory unrealized
                                       40,952,102                    6,091,553               50,797,613                       7,619,642
profit
Depreciation of fixed
                                       67,473,650                   14,344,275               65,556,309                      13,582,668
assets

Total                               1,492,990,160                  242,860,561            1,917,196,525                    306,899,068


(2)Unoffset deferred income tax liabilities


                                                                                                                               Unit: RMB

                                                 Closing balance                                     Opening balance

                                      Deductible
              Item                                       Deferred income tax       Deductible temporary        Deferred income tax
                                      temporary
                                                               liabilities              difference                     liabilities
                                      difference

Depreciation of fixed assets              533,523,643               81,918,910              527,215,830                      80,756,420

Changes in fair value of
                                          370,245,713               55,536,857              370,245,713                      55,536,857
investment property

Total                                     903,769,356              137,455,767              897,461,543                    136,293,277




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(3) The net balances of deferred tax assets or liabilities


                                                                                                                                          Unit: RMB

                                 Off-set amount of              Closing balance of              Off-set amount of           Opening balance of
                                deferred income tax            deferred income tax             deferred income tax          deferred income tax
          Item
                               assets and liabilities at        assets or liabilities         assets and liabilities at   assets or liabilities after
                                   the period-end                  after off-set               the period-beginning                off-set

Deferred tax assets                          46,199,114                    196,661,447                     51,713,145                  255,185,923

Deferred tax liabilities                     46,199,114                     91,256,653                     51,713,145                   84,580,132


(4) Details of unrecognized deferred income tax assets


                                                                                                                                          Unit: RMB

                      Item                                        Closing balance                                    Opening balance

Deductible losses                                                                  2,046,255,537                                    2,045,391,888

Total                                                                              2,046,255,537                                    2,045,391,888


(5) Deductible losses of unrecognized deferred income tax assets will due the following years


                                                                                                                                          Unit: RMB

               Year                           Closing balance                           Opening balance                         Note

Year of 2022                                                 83,303,539                            83,303,539
Year of 2023                                                146,238,837                           146,238,837
Year of 2024                                                178,208,832                           178,208,832
Year of 2025                                                939,085,536                           939,085,536
Year of 2026                                                698,555,144                           698,555,144
Year of 2027                                                    863,649

Total                                                      2,046,255,537                        2,045,391,888


19. Other non-current assets

                                                                                                                                          Unit: RMB

                                             Closing balance                                                  Opening balance
        Item                                     Impairment                                                      Impairment
                             Book balance                             Book value            Book balance                             Book value
                                                  provision                                                       provision
Prepayment of
engineering                    361,724,043                            361,724,043             469,352,622                              469,352,622
equipment
Prepayment for
lease of land use               64,250,000                              64,250,000             14,810,000                               14,810,000
rights
Large-denominati               100,000,000                            100,000,000             100,000,000                              100,000,000


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on certificates of
deposit
Total                       525,974,043                    525,974,043          584,162,622                        584,162,622


20. Short-term borrowings

(1) Classification of short-term borrowings


                                                                                                                      Unit: RMB

                     Item                               Closing balance                            Opening balance

Guaranteed loan                                                           168,108,522                                80,770,000

Unsecured loan                                                            300,000,000                              100,000,000

Total                                                                     468,108,522                              180,770,000

(i)On June 30, 2022, the Company provided guarantees for short-term loans of RMB168,108,522 (31 December 2021: RMB
80,770,000).
(ii) On June 30, 2022, the interest rate range of Short-term borrowings is 2.70% - 4.05% (December 31, 2021: 3.40% - 3.90%).


21. Notes payable

                                                                                                                       Unit: RMB

                     Item                               Closing balance                            Opening balance

Trade acceptance notes                                                    145,475,638                              107,571,279

Bank acceptance notes                                                     404,463,990                              293,091,434

Total                                                                     549,939,628                              400,662,713


22. Contract liabilities

                                                                                                                      Unit: RMB

                     Item                               Closing balance                            Opening balance

Contract liabilities                                                      413,885,125                              335,188,642

Total                                                                     413,885,125                              335,188,642


23. Accounts payable

 (1) List of accounts payable


                                                                                                                     Unit: RMB


                     Item                               Closing balance                            Opening balance

Materials payable                                                         945,889,859                              665,770,883



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Equipment payable                                                       244,832,123                               268,623,795

Construction expenses payable                                           433,608,433                               372,802,783

Freight payable                                                          78,993,780                                 68,894,843

Utilities payable                                                        88,134,291                                 47,260,003

Others                                                                    5,474,045                                  5,499,005

Total                                                                 1,796,932,531                              1,428,851,312


(2) Significant accounts payable due for over one year


                                                                                                                     Unit: RMB

                      Item                         Closing balance                               Unpaid reason

                                                                                 The final account of the project has not been
Construction and equipments                                    172,773,389
                                                                                 completed, so it has not been settled.
Total                                                          172,773,389




24. Employee benefits payable

(1) List of employee benefits payable


                                                                                                                     Unit: RMB

                Item                Opening balance       Increased this term      Decreased this term      Closing balance

I. Short-term employee benefits
                                           426,027,259           881,217,123             1,019,531,915            287,712,467
payable

II. Welfare after departure-
                                                11,722            73,417,024               73,412,071                   16,675
defined contribution plans

III.Termination benefits                      173,998                1,462,816               1,636,814

Total                                      426,212,979           956,096,963             1,094,580,800            287,729,142


(2) List of short-term employee benefits


                                                                                                                     Unit: RMB

               Item                Opening balance       Increased this term        Decreased this term      Closing balance

1. Wages and salaries, bonuses,
                                        402,716,350              818,189,015                 958,424,388          262,480,977
allowances and subsidies

2. Social security contributions               5,808              31,093,375                  31,087,818                11,365

Including: Medical insurance                   5,097              27,629,935                  27,624,254                10,778

         Work injury insurance                  291                  2,411,059                  2,410,763                     587

         Maternity insurance                    420                  1,052,381                  1,052,801


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3. Housing funds                            958,798                22,181,389                   21,933,449               1,206,738

4.Labour union funds and
                                          22,346,303                  9,753,344                  8,086,260              24,013,387
employee education funds

Total                                    426,027,259              881,217,123                1,019,531,915            287,712,467


(3) List of defined contribution plans


                                                                                                                          Unit: RMB

            Item               Opening balance         Increased this term         Decreased this term          Closing balance

1. Basic pensions                          11,644                71,000,361                  70,995,998                     16,007

2. Unemployment
                                                 78               2,416,663                   2,416,073                           668
insurance

Total                                      11,722                73,417,024                  73,412,071                     16,675


25. Tax payable

                                                                                                                         Unit: RMB

                    Item                                Closing balance                              Opening balance

Value-added-tax payable                                                      63,220,964                                 77,539,743
Corporate income tax payable                                                 63,421,971                                 81,469,865
Individual income tax payable                                                 5,291,100                                  4,947,559

City maintenance and construction tax                                         4,221,243                                  5,853,393

Property tax                                                                  9,979,982                                  4,126,693

Education surcharge                                                           3,232,672                                  4,662,534

Environmental tax                                                             1,308,540                                  1,674,797

Others                                                                        3,975,678                                  4,735,097

Total                                                                     154,652,150                                 185,009,681


26. Other payables

                                                                                                                         Unit: RMB

                    Item                                Closing balance                              Opening balance

Interest payable                                                             36,640,548                                 95,001,362

Other payables                                                            185,226,388                                 194,439,115

Total                                                                     221,866,936                                 289,440,477


(1) Interest payable


                                                                                                                         Unit: RMB


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                                                                                                      CSG Semi-annual Report 2022


                  Item                                   Closing balance                             Opening balance

Interest on long-term loans with interest
paid by installments and principal repaid                                    3,722,120                                  2,558,374
at maturity

Interest payable for short-term
                                                                              660,363                                     184,923
borrowings

Interest for corporate bonds                                                32,258,065                                 92,258,065
Total                                                                       36,640,548                                 95,001,362


(2) Other payables


1) Listing other payables by nature of the payment
                                                                                                                         Unit: RMB

                  Item                                   Closing balance                             Opening balance

Guarantee deposits received from
                                                                           101,021,553                                101,467,608
  construction contractors

Accrued operating costs and expenses(i)                                     39,421,751                                 51,592,989

Payable for contracted labour costs                                         22,061,379                                 21,273,645

Temporary receipts                                                           9,630,262                                  6,033,599

Guarantee for disabled                                                       6,727,370                                  5,796,364

Others                                                                       6,364,073                                  8,274,910

Total                                                                      185,226,388                                194,439,115

(i) This item mainly includes various expenses incurred but not yet obtained an invoice at the end of the period, including utilities,
professional service fees, travel expenses, etc.


27. Non-current liabilities due within one year

                                                                                                                         Unit: RMB

                  Item                                   Closing balance                             Opening balance

Bonds payable due within one year                                      1,997,931,024
Long-term borrowings due within 1 year                                     335,498,431                                466,098,352
Long-term payables due within one year                                      37,830,760                                 36,865,104
Lease liabilities due within one year                                         653,324                                     857,092
Total                                                                  2,371,913,539                                  503,820,548


28. Other current liabilities

                                                                                                                         Unit: RMB

                  Item                                   Closing balance                             Opening balance




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      Output tax to be transferred                                                47,430,142                                   39,799,309

      Others                                                                         300,000                                     300,000

      Total                                                                       47,730,142                                   40,099,309


      29. Long-term borrowings

      (1) Classification of long-term borrowings


                                                                                                                                Unit: RMB

                            Item                               Closing balance                               Opening balance

      Guaranteed                                                                1,916,136,468                               779,059,824

      Credit loan                                                               1,245,000,000                               690,000,000

      Total                                                                     3,161,136,468                             1,469,059,824

      As at 30 June 2022, the interest of long-term borrowings varied from 2.95%-4.60% (31 December 2021: 4%-4.6%).


      30. Bonds payable

      (1) Bonds payable


                                                                                                                                Unit: RMB

                            Item                               Closing balance                               Opening balance

      Bonds payable                                                                                                       1,996,587,330

      Total                                                                                                               1,996,587,330


      (2) Increase or decrease of bonds payable (excluding preferred shares, perpetual bonds and other financial instruments
      classified as financial liabilities)


                                                                                                                                 Unit: RMB

                                                                         Issu                    Amortizat     Curr
          Fac                                                                                                          Reclassified
                                                                         e in        Interest     ion of        ent                     Clos
              e     Issue                Amount of        Opening                                                     to non-current
                                                                                                                                        ing
Name                           Term                                       the      accrued at    premium       repa   liabilities due
          val       date                     issue        balance                                                                       bala
                                                                         peri      face value      and         yme      within one
                                                                                                                                        nce
          ue                                                                                                               year
                                                                          od                     discount       nt

                  2020-3-
20
                  24    to     3
CSG       100                           2,000,000,000   1,996,587,330               60,000,000   1,343,694            1,997,931,024
                  2020-3-      years
01
                  25
      In March 2020, with the approval of China Securities Regulatory Commission, the company was approved to publicly issue 2020
      corporate bonds (phase I) to qualified investors, with a face value of RMB 100, an issue amount of RMB 2 billion, a term of 3 years
      (annual interest payment and principal repayment at maturity), and a coupon rate of 6%; The issuance date is from March 24, 2020 to
      March 25, 2020, and the value date is March 25, 2020.



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31.Lease liability


                                                                                                                              Unit: RMB

                     Item                                Closing balance                             Opening balance

Lease liability                                                                                                               220,138
Total                                                                                                                         220,138


32.Long-term payables


                                                                                                                              Unit: RMB

                     Item                                Closing balance                             Opening balance

Long-term payables                                                          149,062,955                                  168,258,062
Total                                                                       149,062,955                                  168,258,062


(1)Long-term payables by nature of payment


                                                                                                                              Unit: RMB

                     Item                                Closing balance                             Opening balance

Finance lease payable                                                       149,062,955                                  168,258,062


33. Deferred income


                                                                                                                            Unit: RMB

                                                        Increase in current        decrease in current
          Item               Opening balance                                                                       Closing balance
                                                              period                      period

Government grants                   564,129,128                    3,000,000                 71,815,510                  495,313,618

Total                               564,129,128                    3,000,000                 71,815,510                  495,313,618

Projects involving government subsidies:
                                                                                                                            Unit: RMB

                                                                              Account to other                            Related to
                                                            Increase in                                  Closing
Item in debt                         Opening balance                           income in this                              assets or
                                                           current period                                balance
                                                                                   period                                  income

Tianjin CSG Golden Sun Project                                                                                          Assets
                                           40,217,551                                 1,687,446          38,530,105
(i)                                                                                                                     related

Dongguan CSG Golden Sun                                                                                                 Assets
                                           32,324,250                                 1,375,500          30,948,750
Project (ii)                                                                                                            related

Hebei CSG Golden Sun Project                                                                                            Assets
                                           33,000,000                                 1,375,000          31,625,000
(iii)                                                                                                                   related

Xianning CSG Golden Sun                                                                                                 Assets
                                           35,860,917                                 1,515,250          34,345,667
Project (iv)                                                                                                            related



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                                                                       Account to other                      Related to
                                                        Increase in                            Closing
Item in debt                       Opening balance                      income in this                        assets or
                                                      current period                           balance
                                                                            period                             income

Infrastructure compensation for                                                                             Assets
                                         23,462,746                            2,020,769       21,441,977
Wujiang CSG Glass Co., Ltd (v)                                                                              related

Qingyuan Energy-saving project                                                                              Assets
                                         10,909,167                            1,235,000        9,674,167
(vi)                                                                                                        related

Yichang Silicon products project                                                                            Assets
                                         10,546,875                            1,406,250        9,140,625
(vii)                                                                                                       related

Yichang CSG silicon slice                                                                                   Assets
                                         19,100,966       2,500,000              991,272       20,609,694
auxiliary project (viii)                                                                                    related

Sichuan energy-saving glass                                                                                 Assets
                                          3,859,380                              827,010        3,032,370
project (ix)                                                                                                related

Group coating film experimental                                                                             Assets
                                          1,500,000                              187,500        1,312,500
project (x)                                                                                                 related

Yichang high purity silicon                                                                                 Assets
                                          2,417,619                              151,589        2,266,030
material project (xi)                                                                                       related

Yichang semiconductor silicon                                                                               Assets
                                          2,866,666                                  66,667     2,799,999
material project (xii)                                                                                      related

Yichang CSG Display project                                                                                 Assets
                                         40,565,357                            1,333,906       39,231,451
(xiii)                                                                                                      related

Xianning Photoelectric project                                                                              Assets
                                          6,240,000                              134,162        6,105,838
(xiv)                                                                                                       related

Shenzhen medical equipment                                                                                  Assets
                                          7,178,000                              582,000        6,596,000
subsidy project(xv)                                                                                         related

Hebei float emission reward                                                                                 Assets
                                          9,355,414                              366,879        8,988,535
(xvi)                                                                                                       related
                                                                                                            Income
Group talent fund project (xvi)         171,000,000                                           171,000,000
                                                                                                            related
Zhaoqing energy saving industry                                                                             Income
                                         87,255,711                           54,579,905       32,675,806
support fund project(xvii)                                                                                  related

                                                                                                            Assets
Others                                   26,468,509         500,000            1,979,405       24,989,104
                                                                                                            related
Total                                   564,129,128       3,000,000           71,815,510      495,313,618

(i) The allowance was granted by Tianjin Municipal Government. The allowance was used for establishing PV power station by
Tianjin Energy Conservation Company. The facilities belonged to Tianjin Energy Conservation Company. The allowance will be
credited to income statement in 20 years, the useful life of the PV power station.

(ii) The allowance was granted by Dongguan Municipal Government. The allowance was used for establishing PV power station
by Dongguan CSG Architectural Glass Co., Ltd. The facilities belonged to Dongguan CSG upon completion. The allowance will be
credited to income statement in 20 years, the useful life of the PV power station.



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                                                                                                        CSG Semi-annual Report 2022


(iii) The allowance was granted by Langfang Municipal Government. The allowance was used for establishing PV power station by
Hebei CSG Glass Co., Ltd. ("Hebei CSG"). When the facilities were set up, they belonged to Hebei CSG. The allowance will be
credited to income statement in 20 years, the useful life of the PV power station.

(iv) The allowance was granted by Xianning Municipal Government. The allowance was used for establishing PV power station by
Xianning CSG Glass Co Ltd. The facilities belonged to Xianning CSG upon completion. The allowance will be credited to income
statement in 20 years, the useful life of the PV power station.

(v) The allowance was infrastructure compensation granted by Wujiang municipal government, and will be credited to income
statement in 15 years, the shortest operating period as committed by the Group.

(vi) The allowance was granted by Guangdong Province and which was a pilot project for strategic emerging industry clusters
development and was used to establish high performance ultra-thin electronic glass production lines by Qingyuan CSG. The
allowance will be credited to income statement in 10 years, the useful life of the production line.

(vii) The balance represented amounts granted to Yi Chang CSG polysilicon Materials Co., Ltd. by Yichang City Dongshan
Development Corporation under the provisions of the investment contract signed between the Group and the Municipal Government
of Yi Chang. The proceeds were designed for the construction of electricity transformer and the pipelines. Yichang polysilicon is
entitled to the ownership of the facilities, which will be amortised by 16 years according to the useful life of the converting station.

(viii) It represented the government supporting fund obtained by Yichang polysilicon from the acquiring of the assets and liabilities
of Crucible project of Yichang Hejing Photoelectric Ceramic Co., Ltd. The proceeds would be amortised and credited to income
statement by 16 years after related assets were put into use.

(ix) It represented the funds granted by Chengdu local government for energy glass project. It will be amortised and credited to
income statement in 15 years, in accordance with the minimum operating period committed by the Group.

(x)    The allowance was granted by Shenzhen City Development and Reform Commission for the development of Group Coating
Film experimental project. The grant will be amortised and credited to income statement in the estimated useful life of the relevant
fixed assets.

(xi) It represented the funds granted by Hubei local government for inport discount complement and international corporation
special subsidy. The grant will be amortised and credited to income statement by 12 to 15 years.

(xii) It represented the special subsidy of Yichang National Regional Strategic Emerging Industry Development Pilot Project II,
which is used to complement Yichang CSG PolysSilicon “Hubei semiconductor silicon preparative technique project laboratory”.
The grant will be amortised and credited to income statement by 15 years.

(xiii) It represented the funds granted by Yichang Municipal Government for Yichang CSG Display Company's flat project
construction support funds and construction of coil coating three-line project. The grant will be amortised and credited to income
statement by 15 years.

(xiv) It represented the funds granted by Xianning Government of the Project supporting fund for photoconductive glass production
line,which is used to pay for Xianning CSG Glass Co. Ltd. constructing the project of photoelectric photoelectric optical glass
production line . After the completion of the production line, the ownership belongs to Xianning photoelectric. The allowance will be
credited to income statement in 8 years, the useful life of the production line.

(xv) The allowance was granted by Shenzhen Municipal Government. The allowance was used for the production line of epidemic
prevention materials for Shenzhen CSG Medical Technology Co., Ltd. The facilities belonged to Shenzhen CSG Medical Technology
Co., Ltd upon completion. The allowance will be credited to income statement with the useful life of the production line.

(xvi) The allowance was granted by Administrative Commission of Yongqing County Ecological Environment Bureau.and Hebei
CSG. is used to produce line drop emission transformation, and the grant will be amortised and credited to income statement in the
residual life of the relevant fixed assets.

(xvii) The allowance was granted by Administrative Commission of Yichang High-tech Industrial Development Zone. For senior
management personnel, engineering technical personnel and senior professional technical team who are working at Yichang or plane
to introduction, RMB171 million fund was set up, as a special fund for talent introduction and housing resettlement.



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(xviii)     The allowance was granted by Administrative Commission of Guangdong Provincial Department of Finance is a
provincial industry to jointly establish financial support funds which is used to Z the development of enterprises, production and
operation, and other expenditure for Zhaoqing Energy Saving Company.


34. Share Capital

                                                                                                                               Unit: RMB

                                                             Changed in the report period(+,-)
     Item           Opening balance                                        Transferred                                 Closing balance
                                           New issues   Bonus issue                          Others     Sub-total
                                                                          from reserves

Total of
                         3,070,692,107                                                                                     3,070,692,107
capital shares


35. Capital surplus

                                                                                                                               Unit: RMB

             Item                  Opening balance            Increased this term         Decreased this term         Closing balance

Capital premium (share
                                             655,424,260                                                                    655,424,260
premium)
Other capital surplus                        -58,427,175                                                                     -58,427,175
Total                                        596,997,085                                                                    596,997,085


36. Other comprehensive income

                                                                                                                               Unit: RMB

                                                                  Occurring in current period
                                                                                    After-tax           After-tax
                             Opening            Amount
           Item                                 incurred       Less: income      attribute to the      attribute to      Closing balance
                             balance
                                             before income      tax expense          parent             minority
                                                   tax
                                                                                    company           shareholder

I. Other
comprehensive
income items which
can not be
reclassified to profit
or loss

II. Other
comprehensive
income items which          159,200,530          6,167,540                               6,167,540                          165,368,070
will be reclassified
to profit or loss

Differences on
                              -4,501,267         6,167,540                               6,167,540                             1,666,273
translation of


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foreign currency
financial statements

Finance incentives
for energy and
                                2,550,000                                                                                2,550,000
technical
transformation

Income from
conversion of self
use real estate and
                          161,151,797                                                                                  161,151,797
land use right into
investment real
estate

Total of other
comprehensive             159,200,530           6,167,540                          6,167,540                           165,368,070
income


37. Special reserves

                                                                                                                          Unit: RMB

            Item                 Opening balance        Increased this term        Decreased this term          Closing balance

Safety production cost                      7,296,397              4,853,948                   10,297,642                1,852,703

Total                                       7,296,397              4,853,948                   10,297,642                1,852,703


38. Surplus reserves

                                                                                                                           Unit: RMB

            Item                 Beginning of term      Increased this term        Decreased this term            End of term
Statutory surplus
                                       1,017,034,942                                                                 1,017,034,942
reserve
Discretionary surplus
                                        127,852,568                                                                    127,852,568
reserve
Total                                  1,144,887,510                                                                 1,144,887,510


39. Undistributed profits

                                                                                                                          Unit: RMB

                         Item                                   The current period                  The same period of last year
Retained earnings at the end of the previous term
                                                                               6,450,587,417                         5,336,266,412
before adjustment
Retained earnings at the beginning of this term
                                                                               6,450,587,417                         5,336,266,412
after adjustment


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Add: net profits belonging to equity holders of the
                                                                             1,001,174,398                            1,352,517,465
Company
Less: Common stock dividends payable                                              614,138,421                           307,069,211

Retained earnings in the end                                                 6,837,623,394                            6,381,714,666


40. Revenue and cost of sales

                                                                                                                             Unit: RMB

                                              Occurred in current term                           Occurred in previous term
             Item
                                         Revenue                    Cost                    Revenue                     Cost

Revenue from main operations              6,421,792,209            4,599,587,540                6,549,257,796         4,117,364,759

Revenue from other operations                97,424,467                38,058,387                 65,544,742              9,262,386

Total                                     6,519,216,676            4,637,645,927                6,614,802,538         4,126,627,145


41. Tax and surcharge

                                                                                                                             Unit: RMB

                    Item                              Occurred in current term                      Occurred in previous term

City maintenance and construction tax                                      15,694,124                                    20,244,886
Educational surcharge                                                      13,036,606                                    17,918,346
Housing property tax                                                       17,222,873                                    16,177,724
Land use rights                                                             8,675,097                                    11,475,052
Stamp tax                                                                   3,840,095                                     3,873,467
Environmental protection tax                                                2,206,638                                     3,569,685
Others                                                                           605,189                                       706,894
Total                                                                      61,280,622                                    73,966,054


42. Sales expenses

                                                                                                                             Unit: RMB

                    Item                              Occurred in current term                      Occurred in previous term

Freight expenses                                                            2,557,634                                     5,430,828

Employee benefits                                                          92,473,703                                    82,609,837

Entertainment expenses                                                      5,362,131                                    10,768,857

Business travel expenses                                                    2,856,337                                     4,144,027

Vehicle use fee                                                             4,488,510                                     3,994,805

Rental expenses                                                             4,437,109                                     3,608,518

Depreciation expenses                                                            396,591                                       386,840
Insurance premium                                                           8,951,501                                     1,943,539



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Others                                                       12,383,136                        12,438,764

Total                                                      133,906,652                        125,326,015


43. Administrative expenses

                                                                                                  Unit: RMB

                    Item                Occurred in current term          Occurred in previous term

Employee benefits                                           194,016,411                       205,775,425

Depreciation expenses                                        29,261,329                        30,558,014

Amortization of intangible assets                            31,408,498                        31,383,145

General office expenses                                      13,393,317                        14,283,686

Labour union funds                                            9,792,599                         9,143,124

Entertainment fees                                            8,507,539                         8,583,533

Business travel expenses                                      2,194,600                         3,293,171

Utility fees                                                  2,955,260                         2,661,302

Canteen fee                                                   4,624,155                         3,737,420

Vehicle use fee                                               3,213,151                         2,818,991

Consulting advisers                                           3,470,195                         7,243,698

Others                                                       15,798,758                        35,433,195

Total                                                      318,635,812                        354,914,704


44. Research and development expenses

                                                                                                 Unit: RMB

                    Item                Occurred in current term          Occurred in previous term

Research and development expenses                          265,877,930                        224,886,882

Total                                                      265,877,930                        224,886,882


45. Finance expenses

                                                                                                 Unit: RMB

                    Item                Occurred in current term          Occurred in previous term

Interest on borrowings                                      118,724,723                       103,386,761

Less: Capitalised interest                                   26,740,119                         1,416,342

Interest expenses                                            91,984,604                       101,970,419

Less: Interest income                                        30,756,704                        20,024,847

Exchange losses                                                -210,284                         3,871,530



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Others                                                             1,779,736                            1,182,897

Total                                                             62,797,352                           86,999,999


46. Other income

                                                                                                         Unit: RMB

          Source of other gains              Occurred in current term             Occurred in previous term

Government subsidy amortization                                   71,815,510                           16,158,100

Industry support funds                                             1,500,000                            1,782,700

Government incentive funds                                        17,203,284                           11,750,470

Research grants                                                    2,196,600                            2,129,180

Others                                                             6,587,158                            4,733,354

Total                                                             99,302,552                           36,553,804


47. Investment income

                                                                                                         Unit: RMB

                  Item                       Occurred in current term             Occurred in previous term

Structural deposit income                                         14,478,503                            3,075,863

Fixed deposit income                                               1,935,192                              596,467

Total                                                             16,413,695                            3,672,330




48. Credit impairment losses

                                                                                                         Unit: RMB

                     Item                      Occurred in current term           Occurred in previous term

Losses on bad debts of other receivables                            -396,253                             -110,593

Losses on bad debts of accounts receivable                        -1,095,969                           -2,413,455

Total                                                             -1,492,222                           -2,524,048


49. Asset impairment losses

                                                                                                         Unit: RMB

                         Item                    Occurred in current term         Occurred in previous term

1.Decline in the value of inventories                                     1,456

2.Impairment loss of fixed assets                                                                     -26,753,082

Total                                                                     1,456                       -26,753,082



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50. Asset disposal income

                                                                                                                        Unit: RMB

        Source of income from assets disposal            Occurred in current term                Occurred in previous term

Gains and losses on disposal of non current assets                        12,745,461                                     137,638

Total                                                                     12,745,461                                     137,638


51. Non-operating income

                                                                                                                        Unit: RMB

                                                                                                 Amount of non-recurring gain
              Item                   Occurred in current term      Occurred in previous term     and loss included in the report
                                                                                                 period

Compensation income                                      45,951                      2,504,317                               45,951

Amounts unable to pay                                 3,861,020                      2,998,725                         3,861,020
Insurance claim                                       9,040,000                       525,484                          9,040,000
Others                                                2,186,007                      1,523,272                         2,186,007

Total                                                15,132,978                      7,551,798                        15,132,978


52. Non-operating expenses

                                                                                                                        Unit: RMB

                                                                                                 Amount of non-recurring gain
              Item                   Occurred in current term      Occurred in previous term     and loss included in the report
                                                                                                 period

Donation expenditure                                  1,731,127                       265,306                          1,731,127
Compensation                                           599,074                                                           599,074
Financial aid refund                                     74,583                     15,028,336                               74,583
Others                                                1,255,286                      1,168,343                         1,255,286

Total                                                 3,660,070                     16,461,985                         3,660,070


53. Income tax expenses

(1) List of income tax expenses


                                                                                                                        Unit: RMB

                     Item                            Occurred in current term                    Occurred in previous term

Current income tax expenses                                              103,724,527                                 260,737,212
Deferred income tax expenses                                              65,200,997                                  -5,456,922

Total                                                                    168,925,524                                 255,280,290


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(2) Adjustment process of accounting profit and income tax expense


                                                                                                                         Unit: RMB

                             Item                                                       Occurred in current term

Total profit                                                                                                        1,177,516,231

Current income tax expense accounted by tax and relevant
                                                                                                                      181,726,624
regulations

Adjusting the effect of prior period income tax                                                                        -3,872,718
Impact of non-deductible costs, expenses and losses                                                                       851,340
Impact on the use of deductible loss of deferred income tax
                                                                                                                       -5,210,915
assets not recognized in previous period
Influence deductible losses of unrecognized deferred income
                                                                                                                          129,547
tax assets
Impact of tax incentives                                                                                               -4,698,354

Income tax expenses                                                                                                   168,925,524


54. Other comprehensive income

See the note for details.


55. Items of the cash flow statement

(1) Cash received relating to other operating activities


                                                                                                                         Unit: RMB

                   Item                               Occurred in current term                    Occurred in previous term

Interest income                                                            30,756,704                                  20,024,847
Government grant                                                           30,487,042                                 113,114,204

Others                                                                     25,992,822                                  45,686,124

Total                                                                      87,236,568                                 178,825,175


(2) Cash paid relating to other operating activities


                                                                                                                         Unit: RMB

                   Item                               Occurred in current term                    Occurred in previous term

Freight expenses                                                            3,928,266                                   7,337,545

General office expenses                                                    19,162,389                                  21,928,236

Business travel expenses                                                    7,379,731                                   9,925,103

Entertainment fees                                                         16,277,475                                  20,105,592

Vehicle use fee                                                             8,129,592                                   6,874,692



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Maintenance fee                                                            13,668,199                                   10,878,076

Rental expenses                                                            10,391,291                                   11,665,203

Insurance                                                                  22,824,587                                    7,889,601

Commission                                                                  1,610,434                                    1,182,897

Consulting fees                                                             6,193,327                                    5,050,890

Others                                                                     94,303,923                                  143,938,799

Total                                                                    203,869,214                                   246,776,634


(3) Other cash received related to investment activities


                                                                                                                         Unit: RMB

                  Item                                Occurred in current term                    Occurred in previous term

Deposit                                                                                                                 26,124,986

Income from trial production of
                                                                                                                         6,011,365
construction in progress

Total                                                                                                                   32,136,351


(4) Other cash paid related to investment activities


                                                                                                                          Unit: RMB

Item                                       Occurred in current term                        Occurred in previous term

Trial production expenditure in
                                                                                                                         6,911,853
construction
Investment Deposit and Margin                                              19,138,102
Total                                                                      19,138,102                                    6,911,853


(5) Other cash received related to financing activities


                                                                                                                         Unit: RMB

                  Item                                Occurred in current term                    Occurred in previous term

Collection of A/B share tax                                                      206,753
Total                                                                            206,753


(6) Other cash paid related to financing activities


                                                                                                                         Unit: RMB

                  Item                                Occurred in current term                    Occurred in previous term

Repay financing leases                                                     23,022,757
Withholding tax on A/B shares, etc.                                         1,142,255                                     390,507
Total                                                                      24,165,012                                     390,507



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56. Supplement information to the cash flow statement

(1) Supplement information to the cash flow statement


                                                                                                                             Unit: RMB

                         SupplementaryInfo.                                  Amount of this term              Amount of last term

1. Reconciliation from net profit to cash flows from operating
activities

Net profit                                                                             1,008,590,707                   1,368,977,904

Add: Provisions for assets impairment                                                            -1,456                     26,753,082

     Credit impairment loss                                                                   1,492,222                      2,524,048

    Depreciation of fixed assets, depletion of oil and gas assets,
                                                                                            435,495,584                  448,555,136
depreciation of productive biological assets
     Depreciation of right-of-use assets                                                       877,303                        471,792

     Amortization of intangible assets                                                       31,408,498                     31,383,145

     Amortization of long-term prepaid expenses                                                289,845                        163,410

     Losses on disposal of fixed assets intangible assets and other
                                                                                            -12,745,461                       -137,638
long-term assets (“- “for gains)

     Finance expenses (“- “for gains)                                                      91,984,604                  101,970,419

     Investment loss (“- “for gains)                                                      -16,413,695                     -3,672,330

     Decrease in deferred income tax assets (“- “for increase)                             58,524,476                     -8,575,782

     Increase of deferred income tax liability (“- “for decrease)                           6,676,521                      3,118,860

     Decrease of inventory (“- “for increase)                                         -668,865,872                    -236,251,630

     Decrease of operational receivable items (“- “for increase)                      -544,965,419                    -260,405,962

     Increase of operational payable items (“- “for decrease)                             505,601,316                  224,537,331

     Others                                                                                   4,853,948                     -1,166,410

     Net cash flow generated by business operation                                          902,803,121                1,698,245,375

2. Net change of cash and cash equivalents

  Balance of cash at the end of the period                                             2,863,965,769                   1,647,672,831

  Less: Initial balance of cash                                                        2,756,477,572                   2,124,028,196

  Net increasing of cash and cash equivalents                                               107,488,197                 -476,355,365


(2) Formation of cash and cash equivalents


                                                                                                                              Unit: RMB

                      Item                                    Closing balance                             Opening balance

I. Cash                                                                     2,863,965,769                              2,756,477,572




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Incl: Cash on hand                                                                130

          Bank deposits that can be readily
                                                                         2,523,965,640                                2,453,477,573
drawn on demand

          Other cash balances that can be
                                                                          339,999,999                                   302,999,999
readily drawn on demand

II. Balance of cash and cash equivalents at the
                                                                         2,863,965,769                                2,756,477,572
end of the period


57. Assets with restricted ownership or use rights

                                                                                                                              Unit: RMB

                      Item                              Ending book value                            Reason for restriction

Monetary assets                                                              6,076,772   Circulation of margin, etc. is restricted

Fixed assets                                                              148,986,093    Financial leasing is restricted

Total                                                                     155,062,865


58. Foreign currency monetary items

(1) Foreign currency monetary items


                                                                                                                              Unit: RMB

                                   Closing balance of foreign                                                    Closing
               Item                                                         Exchange rate
                                            currency                                                     balance convert to RMB

Cash at bank and on hand                                                                                                   56,375,983

Incl:    USD                                          6,088,330                            6.7114                         40,861,221
         EUR                                            890,687                             7.0084                          6,242,290
         HKD                                       10,827,830                               0.8552                          9,259,960
         AUD                                                797                             4.6145                               3,680
         JPY                                             16,395                             0.0491                                805
         SGD                                              1,666                             4.8170                               8,027

Accounts receivable                                                                                                        72,743,784

Incl:    USD                                          9,720,348                            6.7114                         65,237,143
         EUR                                            834,785                             7.0084                          5,850,510
         HKD                                           1,936,542                            0.8552                          1,656,131
Accounts payable                                                                                                           38,601,456
Incl:    USD                                          5,422,812                            6.7114                         36,394,660
         EUR                                            188,656                             7.0084                          1,322,176
         HKD                                            736,623                             0.8552                             629,960
         JPY                                           3,363,707                            0.0491                             165,158



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                                     Closing balance of foreign                                                   Closing
               Item                                                          Exchange rate
                                             currency                                                    balance convert to RMB

        GBP                                                 11,000                             8.1365                           89,502


59. Government subsidy

(1) Basic situation of government subsidies


                                                                                                                             Unit: RMB

                                                                                                        Amount included in current
               Type                          Amount                         Presentation item
                                                                                                              profit and loss

Government               subsidy
                                                     71,815,510              Other income                                   71,815,510
amortization

Other government subsidies                           27,487,042              Other income                                   27,487,042


(2) Return of government subsidies


√Applicable □ Not applicable
                                                                                                                              Unit: RMB

                  Item                                       Amount                                        Reason

Shenzhen float high-strength
ultra-thin glass industrialization                                             74,583
research project


VIII. The changes of consolidation scope

1. Changes in scope of consolidation for other reasons


On February 14, 2022, the Group set up a subsidiary, Yichang CSG New Energy Material Technology Co.,
Ltd.(hereinafter referred to as " Yichang New Energy Materials Co., Ltd "). As of June 30, 2022, the Group had made a
monetary contribution of RMB 1 million.


IX. Equity in other entities

1. Equity in subsidiary


(1) Composition of the Group


                                                                                                           Shareholding
                          Major business       Place of                                                                         Way of
  Name of subsidiary                                                       Scope of business                   (%)
                              location       registration                                                                     acquisition
                                                                                                          Direct Indirect

Chengdu CSG              Chengdu, PRC      Chengdu, PRC       Development, production and sales of          75%      25% Establishment



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                                                        special glass

Sichuan CSG Energy                                      Development, production and sales of
                      Chengdu, PRC    Chengdu, PRC                                                          75%    25% Split-off
Conservation                                            special glass and processing of glass

Tianjin Energy                                          Development, production and sales of
                      Tianjin, PRC    Tianjin, PRC                                                          75%    25% Establishment
Conservation                                            special glass

Dongguan CSG
                      Dongguan, PRC Dongguan, PRC Intensive processing of glass                             75%    25% Establishment
Engineering

Dongguan CSG Solar Dongguan, PRC Dongguan, PRC Production and sales of solar glass                          75%    25% Establishment

Dongguan CSG                                            Production and sales of hi-tech green
                      Dongguan, PRC Dongguan, PRC                                                          100%         Establishment
PV-tech                                                 battery and components

Yichang CSG                                             Production and sales of high-purity silicon
                      Yichang, PRC    Yichang, PRC                                                          75%    25% Establishment
Polysilicon                                             materials

Wujiang CSG
                      Wujiang, PRC    Wujiang, PRC      Intensive processing of glass                       75%    25% Establishment
Engineering

Hebei CSG             Yongqing, PRC Yongqing, PRC Production and sales of special glass                     75%    25% Establishment

Wujiang CSG           Wujiang, PRC    Wujiang, PRC      Production and sales of special glass              100%         Establishment

China Southern Glass Hong      Kong, Hong       Kong,
                                                        Investment holding                                 100%         Establishment
(Hong Kong)           PRC             PRC

Xianning CSG          Xianning, PRC Xianning, PRC       Production and sales of special glass               75%    25% Establishment

Xianning CSG
                      Xianning, PRC Xianning, PRC       Intensive processing of glass                       75%    25% Split-off
Energy-Saving

Qingyuan CSG                                            Production      and     sales    of   ultra-thin
                      Qingyuan, PRC Qingyuan, PRC                                                          100%         Establishment
Energy-Saving                                           electronic glass

Shenzhen CSG
Financial Leasing Co., Shenzhen, PRC Shenzhen, PRC      Finance leasing, etc.                               75%    25% Establishment
Ltd.

Jiangyou CSG Mining
                                                        Production and sales of silica and its
Development Co.,      Jiangyou, PRC   Jiangyou, PRC                                                        100%         Establishment
                                                        by-products
Ltd.

Shenzhen CSG                                            Production and sales of display component
                      Shenzhen, PRC Shenzhen, PRC                                                          60.8%        Acquisition
Display                                                 products

Zhaoqing
                      Zhaoqing, PRC Zhaoqing, PRC       Production and sales of special glass              100%         Establishment
Energy-SavingGlass

Zhaoqing Automobile
                      Zhaoqing, PRC Zhaoqing, PRC       Production and sales of special glass              100%         Establishment
Glass

                                                        Develop,     manufacture        and   sell   key
Anhui CSG New
                      Fengyang, PRC Fengyang, PRC materials or complete sets of equipment 100%                          Establishment
Energy Materials
                                                        for new energy power generation



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Anhui CSG New                                                   Quartzite mining, processing, purification,
                          Fengyang, PRC Fengyang, PRC                                                               100%             Establishment
Quartz material                                                 sales

Anhui Mining              Fengyang, PRC Fengyang, PRC Mining of mineral resources                                    60%             Establishment

Xi'an Energy-saving       Xi'an, PRC          Xi'an, PRC        Production and sales of special glass                55%        45% Establishment

Guangxi new energy
                          Longgang, ,PRC Longgang, ,PRC Production and sales of special glass                        75%        25% Establishment
materials Co., Ltd




(2)Important non-wholly owned subsidiary


                                                                                                                                     Unit: RMB

                                   Shareholding of Total profit or loss attributable to        Dividends distributed to         Minority interest
           Subsidiaries                minority       minority shareholders for the year       minority interests for the         as at 30 June
                                     shareholders             ended 30 June 2022               year ended 30 June 2022               2022

Shenzhen CSG Display                          39.2%                              6,859,691                                           411,269,177


(3) Major financial information of important non-wholly owned subsidiaries


                                                                                                                                   Unit: RMB

   Name of                                                               Closing balance
  Subsidiary      Current assets     Non-current assets       Total assets     Current liabilities    Non-current liabilities    Total liabilities

                     303,462,273           1,348,133,307 1,651,595,580               464,018,122                   82,380,830        546,398,952

Shenzhen CSG                                                            Opening balance
Display           Current assets     Non-current assets       Total assets     Current liabilities    Non-current liabilities    Total liabilities

                     210,979,056           1,378,748,179 1,589,727,235               448,244,735                   54,572,497        502,817,232


                                                                                                                                   Unit: RMB
                                   Occurred in current term                                          Occurred in previous term

                                                                   Cash flows                                                        Cash flows
  Name of                                             Total                                                            Total
                                                                        from                                                             from
 Subsidiary       Revenue        Net profit     comprehensive                       Revenue          Net profit   comprehensive
                                                                    operating                                                         operating
                                                    income                                                            income
                                                                    activities                                                        activities

Shenzhen
                  276,320,544      21,191,648         21,191,648    20,948,584 378,092,939           46,313,955       46,313,955 57,269,209
CSG Display


X. Risk related to financial instrument

The Group's activities expose it to a variety of financial risks: market risk (primarily currency risk and interest rate risk),
credit risk and liquidity risk. The Group's overall risk management programme focuses on the unpredictability of
financial markets and seeks to minimise potential adverse effects on the Group's financial performance.

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(1) Market risk


(a) Foreign exchange risk


The Group’s major operational activities are carried out in Mainland China and a majority of the transactions are
denominated in RMB. However, some of the export business is settled in foreign currency. Besides, the Group is exposed
to foreign exchange risk arising from the recognized assets and liabilities, and future transactions denominated in foreign
currencies, primarily with respect to US dollars and HKD. The Group monitors the scale of foreign currency transactions,
foreign currency assets and liabilities, and adjusts settlement currency of export business, to furthest reduce the currency
risk.


As at 30 June 2022, the carrying amounts in RMB equivalent of the Group’s assets and liabilities denominated in foreign
currencies are summarized below:


                                                                                     30 June 2022

                                                                   USD           HKD           Others         Total

 Financial assets denominated in foreign currency

    Cash at bank and on hand                                      40,861,221    9,259,960     6,254,802      56,375,983

    Receivables                                                   65,237,143    1,656,131     5,850,510      72,743,784

 Total                                                           106,098,364   10,916,091    12,105,312     129,119,767

 Financial liabilities denominated in foreign currency

    Payables                                                      36,394,660     629,960      1,576,836      38,601,456

 Total                                                            36,394,660     629,960      1,576,836      38,601,456



                                                                                  31 December 2021

                                                                    USD          HKD           Others          Total

 Financial assets denominated in foreign currency

    Cash at bank and on hand                                      26,509,188    2,379,817       115,374      29,004,379

    Receivables                                                  111,133,429    1,732,573     6,026,900     118,892,902

 Total                                                           137,642,617    4,112,390     6,142,274     147,897,281

 Financial liabilities denominated in foreign currency

    Payables                                                      40,306,973     201,921      2,416,770      42,925,664

 Total                                                            40,306,973     201,921      2,416,770      42,925,664

As at 30 June 2022, if the currency had strengthened/weakened by 10% against the USD while all other variables had
been held constant, the Group’s net profit for the year would have been approximately RMB5,924,815 lower/higher (31
December 2021: approximately RMB 8,273,530 lower/higher) for various financial assets and liabilities denominated in
USD.



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Other changes in exchange rate had no significant influence on the Group's operating activities.


(b) Interest rate risk


The Group's interest rate risk arises from long-term interest bearing borrowings including long-term borrowings and
bonds payable. Financial liabilities issued at floating rates expose the Group to cash flow interest rate risk. Financial
liabilities issued at fixed rates expose the Group to fair value interest rate risk. The Group determines the relative
proportions of its fixed rate and floating rate contracts depending on the prevailing market conditions. As at 30 June 2022,
the Group’s long-term interest-bearing debt at variable rates and fixed rates as illustrated below:


                          Type                                  30 June 2022                   31 December 2021

 Debt at fixed rates                                                        789,569,526                     2,404,372,257

 Debt at variable rates                                                   2,371,566,942                     1,061,274,897

 Total                                                                    3,161,136,468                     3,465,647,154



The Group continuously monitors the interest rate position of the Group. Increases in interest rates will increase the cost
of new borrowing and the interest expenses with respect to the Group’s outstanding floating rate borrowings, and
therefore could have a material adverse effect on the Group’s financial position. The Group makes adjustments timely
with reference to the latest market conditions, which includes increasing/decreasing long-term fixed rate debts at the
anticipation of increasing/decreasing interest rate.


(2) Credit risk


Credit risk is managed on the grouping basis. Credit risk mainly arises from cash at bank, notes receivable, accounts
receivable, other receivables.


The Group expects that there is no significant credit risk associated with cash at bank since they are mainly deposited at
state-owned banks and other medium or large size listed banks. Management does not expect that there will be any
significant losses from non-performance by these counterparties. Furthermore, as the Group’s bank acceptance notes
receivable are generally accepted by the state-owned banks and other large and medium listed banks, management
believes the credit risk should be limited.


In addition, the Group has policies to limit the credit exposure on accounts receivable, other receivables and trade
acceptance notes receivable. The Group assesses the credit quality of and sets credit limits on its customers by taking into
account their financial position, the availability of guarantee from third parties, their credit history and other factors such
as current market conditions. The credit history of the customers is regularly monitored by the Group. In respect of
customers with a poor credit history, the Group will use written payment reminders, or shorten or cancel credit periods, to
ensure the overall credit risk of the Group is limited to a controllable extent.




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(3) Liquidity risk


Cash flow forecasting is performed by each subsidiary of the Group and aggregated by the Group’s finance department in
its headquarters. The Group’s finance department at its headquarters monitors rolling forecasts of the Group's short-term
and long-term liquidity requirements to ensure it has sufficient cash reserve, while maintaining sufficient headroom on its
undrawn committed borrowing facilities from major financial institutions so that the Group does not breach borrowing
limits or covenants on any of its borrowing facilities to meet the short-term and long-term liquidity requirements.
The management intends to take the following measures to ensure that the group's liquidity risk is within a controllable
range.


(a) The Group will have steady cash inflows from operating activities;
(b) The Group will pay the debts that mature and finance the construction projects through the existing bank facilities;
(c) The Group will closely monitor the payment of construction expenditure in terms of payment time and amount.


The financial liabilities of the Group at the balance sheet date are analysed by their maturity date below at their
undiscounted contractual cash as follows:


                                                                       30 June 2022

                                     Within 1 year    1 to 2 years      2 to 5 years    Over 5 years         Total

Short-term borrowings                 481,724,918                                                         481,724,918

Notes payable                         549,939,628                                                          549,939,628

Accounts payable                     1,796,932,531                                                       1,796,932,531

Other payables                        221,866,936                                                          221,866,936

Other current liabilities              47,730,142                                                           47,730,142

Non-current liabilities due within
                                     2,468,442,587                                                       2,468,442,587
one year

Long-term payables                                    149,062,955                                          149,062,955

Long-term borrowings                  125,145,270    1,413,083,190     1,544,631,303    471,015,574      3,553,875,337

Total                                5,691,782,012   1,562,146,145     1,544,631,303    471,015,574      9,269,575,034



                                                                     31 December 2021

                                                                                          Over 5
                                     Within 1 year    1 to 2 years      2 to 5 years       years            Total

Short-term borrowings                  182,299,506                                                         182,299,506

Notes payable                          400,662,713                                                         400,662,713

Accounts payable                     1,428,851,312                                                       1,428,851,312

Other payables                         289,440,477                                                         289,440,477

Other current liabilities               40,099,309                                                          40,099,309

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Non-current liabilities due within
                                             514,569,537                                                                 514,569,537
one year

 Long-term payables                                          168,258,062                                                 168,258,062

 Long-term borrowings                         60,580,998     374,241,583         889,057,539     363,125,181         1,687,005,301

 Bonds payable                               120,000,000   2,120,000,000                                             2,240,000,000

Total                                   3,036,503,852      2,662,499,645         889,057,539     363,125,181         6,951,186,217


XI. Disclosure of fair value

1. The ending fair value of assets and liabilities measured at fair value

                                                                                                                          Unit: RMB
                                                                                   Fair value at the end of the period

                                                                       Level 1        Level 2          Level 3             Total

Financial assets measured at fair value with changes included in
current profit and loss

Structured deposits                                                                1,209,000,000                     1,209,000,000

Financial   assets    measured   at   fair     value through other
comprehensive income

Receivables Financing                                                                582,328,808                         582,328,808

Investment property                                                                  383,084,500                         383,084,500

Total                                                                              2,174,413,308                     2,174,413,308


XII. Related party and related Transaction

1. Information of the parent company

The Company regards no entity as the parent company.


2. Information of the subsidiaries

The general information and other related information of the subsidiaries are set out in attached note.


3. Joint venture of the Company

The general information and other related information of joint ventures of the Company are set out in attached note.


4. Other related parties


                       Other related parties                         Relationship between other related parties and the enterprise



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 Foresea Life Insurance Co., Ltd.                                       The Company's largest shareholder
 Shenzhen Jushenghua Co., Ltd.                                          A related party of the Company's largest shareholder

 Xinjiang Qianhai United Property Insurance Co., Ltd.                   A related party of the Company's largest shareholder

 Suzhou Baoqi Logistics Co., Ltd.                                       A related party of the Company's largest shareholder

 Shenzhen Baoneng Automobile Sales Service Co., Ltd                     A related party of the Company's largest shareholder


 5. Related party transactions

 (1)Related transactions for the purchase and sale of goods, provision and receipt of services


 Purchase of goods / acceptance of labor services
                                                                                                                                         Unit: RMB

                                                                               Amount incurred             Whether the         Amount incurred
              Related party                   Related party transactions            in the current     transaction limit is     in the previous
                                                                                       period               exceeded                period

 Suzhou Baoqi Logistics Co., Ltd.        Acceptance of labor services                                          None                      5,247,713

 Foresea Life Insurance Co., Ltd.        Purchase Purchase of life insurance             3,323,544             None                      1,224,197

 Shenzhen Baoneng Automobile             Purchase of goods                                                     None
                                                                                                                                         1,818,050
 Sales Service Co., Ltd

 Xinjiang Qianhai United Property        Purchase auto insurance                                               None
                                                                                                                                           84,149
 Insurance Co., Ltd.

 Other related parties                   Purchase of goods                                 245,339             None                       609,968

 Total                                                                                   3,568,883             None                      8,984,077

 Sales of goods / provision of labor services
                                                                                                                                         Unit: RMB
                  Related party                   Related party transactions         Amount incurred in the              Amount incurred in the
                                                                                          current period                    previous period

 Shenzhen Jushenghua Co., Ltd.                   Sales of goods                                                                               500

 Other related parties                           Sales of goods                                            208,935                        559,600

 Total                                                                                                     208,935                        560,100


 (2)Related lease


 The company as the lessee:
                                                                                                                                         Unit: RMB
                     Rental costs for         Variable lease
Name     Types                                                                                       Interest expense of
                     simplified               payments not                                                                      Increased use right
of       of                                                             Rent paid                    lease liabilities
                     short-term leases        included in the                                                                   assets
lessor   leased                                                                                      undertaken
                     and low value asset      measurement of


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          assets      leases(if applicable)      lease liabilities (if
                                                 applicable)

                      Amount       Amount        Amount        Amount      Amount       Amount        Amount       Amount      Amount       Amount
                      incurred     incurred      incurred      incurred    incurred     incurred      incurred     incurred    incurred     incurred
                      in the       in the        in the        in the      in the       in the        in the       in the      in the       in the
                      current      previous      current       previous    current      previous      current      previous    current      previous
                      period       period        period        period      period       period        period       period      period       period


Other
          Leased
related                                                                     442,325                     19,559
          plant
parties


 6. Accounts receivable and payable of related parties

 (1) Receivables


                                                                                                                                         Unit: RMB
                                                       Closing balance                                          Opening balance
           Related party
                                              Book balance           Bad debt provision          Book balance               Bad debt provision

 Foresea Life Insurance Co., Ltd.                          457,134                                                1,715

 Other related parties                                     283,146                  4,064                       240,905                      4,819

 Total                                                     740,280                  4,064                       242,620                      4,819


 (2) Payables


                   Related party                               Closing book balance                              Opening book balance

 Suzhou Baoqi Logistics Co., Ltd.                                                           518,280                                       2,731,013

 Other related parties                                                                      134,025                                        133,408

 Total                                                                                      652,305                                       2,864,421


 XIII. Share based payment

 1.General situation of share based payment

 □ Applicable √ Not applicable


 2.Share based payment settled by equity

 □ Applicable √ Not applicable




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3.Cash settled share based payment

□ Applicable √ Not applicable


XIV. Commitments and contingencies

1. Significant commitments

(1) Capital commitments


Capital expenditures contracted for by the Group at the balance sheet date but are not yet necessary to be recognized on
the balance sheet are as follows:
                                                                                                                 Unit: RMB

                       Item                               30 June 2022                        31 December 2021

Buildings, machinery and equipment                             3,255,792,770                                2,994,615,272


XV. Other important matters

1. Segment information

(1) Definition foundation of segment and accounting policy


The Group's business activities are categorised by product and service as follows:


Glass segment, engaged in production and sales of float glass and engineering glass and other building energy - saving
materials, the silica for the production thereof, etc.
Electronic glass and display segment is responsible for production and sales of display components and special
ultra-thin glass products, etc.
Solar energy segment, engaged in manufacturing and sales of polysilicon and solar battery and applications, etc.


The reportable segments of the Group are the business units that provide different products or service. Different
businesses require different technologies and marketing strategies. The Group, therefore, separately manages the
production and operation of each reportable segment and Estimates their operating results respectively, in order to make
decisions about resources to be allocated to these segments and to assess their performance.


Inter-segment transfer prices are measured by reference to selling prices to third parties.


The assets are allocated based on the operations of the segment and the physical location of the asset. The liabilities are
allocated based on the operations of the segment. Expenses indirectly attributable to each segment are allocated to the
segments based on the proportion of each segment’s revenue.




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(2)Financial information of segment


                                                                                                                               Unit: RMB
                                           Electronic glass       Solar energy and
          Item          Glass industry                                                   Unallocated      Elimination              Total
                                             and display           other industries

Revenue from
                          4,374,933,542            722,676,247         1,405,993,071         15,613,816                    6,519,216,676
external customers

Inter-segment
                              53,836,884             87,239,522             27,648,076     214,893,714 -383,618,196
revenue

Interest income                1,783,726                281,292               308,648        28,383,038                         30,756,704

Interest expenses              4,057,266              3,838,337               -135,478       84,224,479                         91,984,604

Asset impairment
                                                                                -1,456                                              -1,456
losses

Credit impairment
                                 848,260               -320,455               879,333            85,084                          1,492,222
loss

Depreciation and
amortization                284,583,466             114,919,758             64,926,060        3,641,946                        468,071,230
expenses

Total profit                698,174,831            130,737,688             333,914,370       14,689,342                    1,177,516,231

Income tax expenses           99,050,153             18,781,190             52,257,720       -1,163,539                        168,925,524

Net profit                  599,124,678             111,956,498            281,656,650       15,852,881                    1,008,590,707

Total assets             11,258,772,055           3,727,213,216        3,285,363,409 4,199,829,096                        22,471,177,776

Total liabilities         4,895,321,766            641,350,698             584,360,531 4,088,494,414                      10,209,527,409

Increase in non
                          1,426,159,873              69,360,125            132,889,883        3,450,028                    1,631,859,909
current assets


(3) Other statement


The Group’s revenue from external customers domestically and in foreign countries or geographical areas, and the total
non-current assets other than financial assets and deferred tax assets located domestically and in foreign countries or
geographical areas are as follows:

         Revenue from external customers                          Jan.-Jun. 2022                              Jan.-Jun. 2021

Mainland                                                                      6,019,026,588                              5,993,997,205

Overseas                                                                        500,190,088                               620,805,333

Total                                                                         6,519,216,676                              6,614,802,538

               Total non-current assets                            30 June 2022                             31 December 2021

Mainland                                                                     14,103,009,578                             12,982,067,078




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Hong Kong                                                                     12,376,080                                     12,403,499

Total                                                                     14,115,385,658                               12,994,470,577


XVI. Notes to Financial Statements of the Parent Company

1.Accounts receivable

(1) Classified disclosure of accounts receivable


                                                                                                                             Unit: RMB
                                   Ending book balance                                         Beginning book balance

               Book balance            Bad debt provision                       Book balance         Bad debt provision
Category                                                          book          amoun                amount       Accrual       book
               amount of      propor   amount of   Accrual                                 propo
                                                                  value         t   of               of           proporti      value
               money           tion    money       proportion                              rtion
                                                                                money                money        on

Accounts
receivable
for which
bad debt
reserves       2,037,007      100%        40,740            2%    1,996,267
are
withdrawn
by
portfolio

Total          2,037,007      100%        40,740            2%    1,996,267

Provision for bad debts by portfolio:

                                                                                                                             Unit: RMB
                                                                          Ending book balance
              Name
                                   Book balance                    Bad debt provision                     Accrual proportion

Portfolio 1                                           2,037,007                             40,740                                      2%

Total                                                 2,037,007                             40,740

Disclosed by aging
                                                                                                                             Unit: RMB
                               Aging                                                       Ending book balance

Within 1 year (including 1 year)                                                                                               2,037,007

Total                                                                                                                          2,037,007


(2)Bad debt reserves withdrawn, recovered or reversed in the current period


Provision for bad debts in the current period:

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                                                                                                                             Unit: RMB
                                                           Amount of change in the current period
                     Beginning book
Category                                                    Collect         or                                        Ending balance
                           balance          Provision                                 Write off           Others
                                                            reversal

Bad debt
reserves of
                                                  40,740                                                                        40,740
accounts
receivable

Total                                             40,740                                                                        40,740


(3)Top 5 of the closing balance of the accounts receivable collated according to the arrears party


                                                                                                                             Unit: RMB
                                                                       Proportion in total closing
                                     Ending balance of accounts                                           Ending balance of bad debt
           Unit name                                                   balance         of      accounts
                                     receivable                                                           provision
                                                                       receivable

Total accounts receivable of
                                                        2,037,007                                 100%                          40,740
the top 5 in balance

Total                                                   2,037,007                                 100%


2. Other receivables

                                                                                                                             Unit: RMB
                    Item                                     Ending balance                                 Book balance

Dividends receivable                                                             250,000,000                               250,000,000

Other receivables                                                           2,374,297,723                               2,649,091,405

Total                                                                       2,624,297,723                               2,899,091,405


(1) Dividends receivable


1)Classification of dividends receivable


                                                                                                                             Unit: RMB
              Item (or investee)                             Closing balance                               Opening balance

Dividends receivable from subsidiaries                                           250,000,000                               250,000,000

Total                                                                            250,000,000                               250,000,000




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(2)Other receivables


1) Other accounts receivable classified by the nature of accounts


                                                                                                                            Unit: RMB
             Nature of accounts                           Ending book balance                             Beginning book balance

Accounts receivable of related party                                      2,250,430,875                                   2,526,427,812

Others                                                                        175,252,620                                   174,005,021

Total                                                                     2,425,683,495                                   2,700,432,833


2)Withdrawal of bad debt provision


                                                                                                                            Unit: RMB
                                            Phase I                Phase II                   Phase III

                                                              Expected credit loss    Expected credit loss
                                        Expected credit          for the entire             for the entire
         Bad debt provision                                                                                               Total
                                      losses in the next 12   duration (no credit       duration (credit
                                            months                impairment                impairment
                                                                   occurred)                 occurred)

Balance on1 January 2022                            41,428                                        51,300,000                 51,341,428

Balance on1 January 2022 in
current period

Provision for this period                           44,344                                                                         44,344

Balance on 30 June 2022                             85,772                                        51,300,000                 51,385,772


3)Other receivables disclosed by aging


                                                                                                                            Unit: RMB
                              Aging                                                             Ending balance

Within 1 year (including 1 year)                                                                                          2,253,443,341

1 to 2 years                                                                                                                  1,036,498
2 to 3 years                                                                                                                       98,190
More than 3 years                                                                                                           171,105,466

     3 to 4 years                                                                                                                  75,371
     More than 5 years                                                                                                      171,030,095

Total                                                                                                                     2,425,683,495


4) Provision for bad debts accrued, recovered or reversed in the current period


Provision for bad debts:

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                                                                                                                                   Unit: RMB

                          Opening                        Amount of change in the current period
        Category                                                                                                            Closing balance
                           balance          Provision          Collect or reversal        Write-off             Others

Provision for bad
                           51,341,428             44,344                                                                          51,385,772
debts by portfolio

Total                      51,341,428             44,344                                                                          51,385,772


5)Top 5 of the closing balance of the other accounts receivable collated according to the arrears party


                                                                                                                                  Unit: RMB
                                                                                                     Proportion of the           Closing
                                          Nature of           Closing                              total year end balance       balance of
Name ofthecompany                                                                Aging
                                           accounts           balance                                 of the accounts           bad debt
                                                                                                      receivable (%)            provision

Dongguan CSG PV-tech                     Subsidiary           569,768,167    Within 1 year                           23%

Qingyuan CSG Energy-saving               Subsidiary           342,364,169    Within 1 year                           14%

Shenzhen CSG Display                     Subsidiary           334,548,092    Within 1 year                           14%

Xianning CSG Photoelectric               Subsidiary           251,068,779    Within 1 year                           10%

China Southern Glass (Hong Kong)         Subsidiary           240,438,085    Within 1 year                           10%

Total                                                       1,738,187,292                                            71%


3. Long-term equity investment

                                                                                                                                  Unit: RMB
                                            Closing balance                                              Opening balance
        Item                                    Impairment                                                  Impairment
                          Book balance                              Book value         Book balance                             Book value
                                                 provision                                                   provision

Investment in
                            6,914,675,709         15,000,000       6,899,675,709       6,277,391,694         15,000,000       6,262,391,694
subsidiaries

Total                       6,914,675,709         15,000,000       6,899,675,709       6,277,391,694         15,000,000       6,262,391,694


(1)Investment in subsidiaries


                                                                                                                                  Unit: RMB
                                                              Increase and decrease in the current period                          Closing
                                               Opening                                                              Closing       balance of
                                                                                        Provision
               Invested company                balance        Additional    Reducing                                balance       provision
                                                                                             for       Others
                                             (book value)     investment investment                              (book value)        for
                                                                                       impairment
                                                                                                                                 impairment



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Chengdu CSG Glass Co., Ltd.              151,397,763                   151,397,763

Sichuan CSG Energy Conservation          119,256,949                   119,256,949

Tianjin Energy Conservation Glass Co.,
                                         247,833,327                   247,833,327
Ltd.

Dongguan CSG Architectural Glass Co.,
                                         198,276,242                   198,276,242
Ltd.

Dongguan CSG Solar Glass Co., Ltd.       355,120,247                   355,120,247

Yichang CSG Polysilicon Co., Ltd.        640,856,170 269,104,000       909,960,170

Wujiang CSG North-east Architectural
                                         254,401,190                   254,401,190
Glass Co., Ltd.

Hebei CSG Glass Co., Ltd.                266,189,705                   266,189,705

China Southern Glass (Hong Kong)
                                          87,767,304                    87,767,304
Limited

Wujiang CSG Glass Co., Ltd.              567,645,430                   567,645,430

Jiangyou CSG Mining Development Co.,
                                         102,415,096                   102,415,096
Ltd.

Xianning CSG Glass Co., Ltd.             181,116,277                   181,116,277

Xianning CSG Energy Conservation
                                         165,452,035                   165,452,035
Glass Co., Ltd.

Qingyuan CSG Energy Saving New
                                         885,273,105                   885,273,105
Materials Co.,Ltd.

Shenzhen CSG Financial Leasing Co.,
                                         133,500,000                   133,500,000
Ltd.

Shenzhen Nanbo Display Technology
                                         550,765,474                   550,765,474
Co., Ltd.

Zhaoqing CSG Energy-Saving Glass Co.,
                                         150,000,000                   150,000,000
Ltd.

Zhaoqing CSG Automobile Glass Co.,
                                          58,121,000   12,030,015       70,151,015
Ltd.

Dongguan CSG PV-tech Co., Ltd.           382,112,183                   382,112,183

Anhui CSG New Energy Materials           455,000,000 255,000,000       710,000,000

Anhui CSG New Quartz material             37,000,000   38,000,000       75,000,000

Shenzhen CSG Medical                      20,000,000                    20,000,000

Anhui CSG Silicon Valley Mingdu Co.,
                                           3,000,000                      3,000,000
Ltd.

Xi'an CSG Energy Saving Co., Ltd.          1,000,000   21,150,000       22,150,000

Guangxi CSG New Energy Materials           1,000,000   17,000,000       18,000,000


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Co., Ltd

CSG (Suzhou) Enterprise Headquarters
                                               9,000,000   21,000,000                                       30,000,000
Management Co., Ltd

Yichang CSG New Energy Materials Co.,
                                                             1,000,000                                       1,000,000
Ltd

Hefei CSG Energy Saving Co., Ltd                             3,000,000                                       3,000,000

Others                                       238,892,197                                                   238,892,197 15,000,000

Total                                      6,262,391,694 637,284,015                                      6,899,675,709 15,000,000


4. Operating income and operating costs

                                                                                                                         Unit: RMB
                                           Occurred in this term                             Occurred in previous term
            Item
                                    Income                     Costs                    Income                     Costs

Main business                             15,479,200                 15,015,892

Other business                           214,719,212                                          42,342,857

Total                                    230,198,412                 15,015,892               42,342,857


5.Investment income

                                                                                                                         Unit: RMB
                                  Item                                        Occurred in this term       Occurred in previous term

Long-term equity investment accounted by cost method                                        648,961,128                  715,020,699

Investment income of trading financial assets during the holding period                      14,478,503                    2,858,476

Fixed deposit income                                                                          1,935,192                      596,467

Total                                                                                       665,374,823                  718,475,642


XVII.Supplementary Information

1. Items and amounts of extraordinary profit (gains)/loss

√Applicable □Not applicable
                                                                                                                           Unit: RMB

                                           Item                                                   Amount                 Note

Gains/losses from the disposal of non-current asset (including the write-off that accrued
                                                                                                      12,745,461
for impairment of assets)

Governmental subsidy reckoned into current gains/losses (not including the subsidy
enjoyed in quota or ration according to national standards, which are closely relevant to             97,547,070
enterprise’s business)

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                                                                                                         CSG Semi-annual Report 2022


In addition to the effective hedging business related to the normal operation of the
company, gains and losses from changes in fair value arising from the holding of tradable
financial assets and tradable financial liabilities, and the acquisition of tradable financial          16,413,695
assets and available-for-sale financial assets from disposal of tradable financial assets
investment income

Reversal of impairment provision for receivables subject to independent impairment test                   1,409,310

Other non-operating income and expenditure except for the aforementioned items                          11,472,908

Less: Impact on income tax                                                                              23,294,919

     Impact on minority shareholders’ equity (post-tax)                                                  2,713,947

Total                                                                                                  113,579,578           --

Details of other profit and loss items that meet the definition of non recurring profit and loss:
□Applicable √Not applicable
The Company has no specific circumstances of other profit and loss items that meet the definition of non-recurring
profit and loss.
Explanation on defining the non-recurring profit and loss items listed in the "Explanatory Announcement No. 1 on
Information Disclosure of Companies Offering Securities to the Public - Non-recurring Profit and Loss" as recurring
profit and loss items
□Applicable √Not applicable


2. Return on net assets and earnings per share


                                                                           The weighted                Earnings per share
                        Profit in the report period                         average net      Basic earnings per   Diluted earnings per
                                                                            assets ratio    share (RMB/share)     share (RMB/share)

Net profit attributable to ordinary shareholders of the Company                     8.61%                  0.33                   0.33

Net profit attributable to ordinary shareholders of the Company after
                                                                                    7.64%                  0.29                   0.29
deducting non-recurring gains and losses


3. Difference of accounting data under domestic and overseas accounting standards

(1) Differences of the net profit and net assets disclosed in financial report prepared under international and
Chinese accounting standards


□ Applicable √ Not applicable


(2) Difference of the net profit and net assets disclosed in financial report prepared under overseas and Chinese
accounting standards


□ Applicable √ Not applicable




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(3)Explanation of the reasons for the difference of accounting data under the domestic and foreign accounting
standards. If the data audited by the overseas audit institution is adjusted for the difference, the name of the
overseas institution shall be indicated


□ Applicable √ Not applicable




Board of Directors of
CSG Holding Co., Ltd.
31 August 2022




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