The Third Quarterly Report 2020
Guangdong Provincial Expressway Development Co.，Ltd.
The Third Quarterly Report 2020
October 2020
1
The Third Quarterly Report 2020
I. Important Notice
The Board of Directors and the Supervisory Committee of the Company and its directors, supervisors and senior
executives should guarantee the reality, accuracy and completion of the quarterly report, there are no any fictitious
statements, misleading statements or important omissions carried in this report, and shall take legal
responsibilities, individual and or joint.
All of the directors presented the board meeting at which this Quarterly Report was examined.
Mr.Zheng Renfa, Leader, Mr.Wang Chunhua, General Manager, Mr. Fang Zhi, Chief of the accounting work,Ms
Zhou Fang, Chief of the accounting organ (chief of accounting ) hereby confirm the authenticity and completeness
of the financial report enclosed in this report.
II. Basic Information of the Company
（1）Main financial data and financial index
Indicate by tick mark whether the Company needs to retroactively restate any of its accounting data.
√ Yes □No
As at the end of the reporting Changed （%）over end of
As at the end of last year
period prev. year
Gross assets（Yuan） 16,905,477,331.50 17,674,545,340.78 -4.35%
Net assets attributable to the
shareholders of the listed company 9,177,164,266.77 9,823,426,849.75 -6.58%
（Yuan）
Increase/decrease over Between beginning of
Changed （%）over
Reporting period the same period of last the year to the end of
end of prev. year
year（%） the report period
Operating revenue（Yuan） 763,407,014.35 -4.19% 1,424,305,976.14 -37.54%
Net profit attributable to the
shareholders of the listed company 351,032,289.60 -5.44% 345,202,032.42 -68.84%
（Yuan）
Net profit after deducting of
non-recurring gain/loss attributable
348,606,597.62 -6.41% 339,091,880.20 -69.10%
to the shareholders of listed
company（Yuan）
Net cash generated from /used in
579,301,395.86 -0.80% 997,207,500.20 -39.00%
operating activities（Yuan）
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The Third Quarterly Report 2020
Basic earning per
0.17 -5.56% 0.17 -67.92%
share(Yuan/Share)
Diluted gains per
0.17 -5.56% 0.17 -67.92%
share(Yuan/Share)
Weighted average return on
3.67% -0.28% 3.61% -7.86%
equity（%）
Items and amount of non-current gains and losses
√ Applicable □ Not applicable
In RMB
Amount (Year-beginning to
Items Notes
the end of the report period.)
Non-current asset disposal gain/loss(including the write-off part
1,343,684.46
for which assets impairment provision is made)
Govemment subsidies recognized in current gain and
loss(excluding those closely related to the Company’s business 6,408,601.01
and granted under the state’s policies)
Other non-business income and expenditures other than the above 1,569,750.74
Less: Amount of influence of income tax 2,331,391.67
Amount of influence of minority interests(after tax) 880,492.32
Total 6,110,152.22 --
Explain the reasons if the Company classifies an item as an extraordinary gain/loss according to the definition in
the Explanatory Announcement No.1 on Information Disclosure for Companies Offering Their Securities to the
Public-Extraordinary Gains and Losses, or classifies any extraordinary gain/loss item mentioned in the said
explanatory announcement as a recurrent gain/loss item.
□ Applicable √Not applicable
None of Non-recurring gain /loss items recognized as recurring gain /loss/items as defined by the information
disclosure explanatory Announcement No.1- Non –recurring gain/loss in the report period.
II.Total Shareholders and Shares Held by Top Ten Shareholders at the End of the Reporting Period
1. About Total Common Shareholders, Total Preference Shareholders with the Voting Power Recovered
and the Shares Held by Top Ten Common Shareholders
In shares
Total preference shareholders
Total number of common with the voting power
55,744 0
shareholders at the period-end recovered at the end of the
reporting period(if any)
Shares held by the top 10 shareholders
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The Third Quarterly Report 2020
Amount of Pledging or freezing
Properties of Share tradable shares
Shareholder name Quantity Status of the
shareholder proportion % with Conditional Quantity
shares
held
Guangdong
State-owned legal
Communication 24.56% 513,420,438 410,040,696
person
Group Co., Ltd.
Guangdong
Highway State-owned legal
22.30% 466,325,020
Construction Co., person
Ltd,
Shangdong
Expressway
State-owned legal
Investment 9.68% 202,429,149
person
Development
Co., Ltd.
Tibet Yingyue
Investment State-owned legal
4.84% 101,214,574
Management Co., person
Ltd.
Guangdong
State-owned legal
Expressway Co., 2.53% 52,937,491 19,582,228
person
Ltd.
China Life
Insurance Co.,
Ltd.－Dividend
－Personal Other 1.96% 41,009,355
dividend
-005L-FH002
Shen
China Life
Insurance Co.,
Ltd.－Traditional
－Common Other 1.78% 37,225,847
insurance
products-005L-C
T001Shen
Orient Securities State-owned legal
1.08% 22,508,593
Co., Ltd. person
Domestic natural
Feng Wuchu 0.99% 20,776,353
person shares
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The Third Quarterly Report 2020
Overseas legal
Xinyue Co., Ltd. 0.63% 13,201,086
person
Shares held by the Top 10 Shareholders of Non-restricted shares
Share type
Shareholders’ Names Number of the non-restricted shares held
Share type Quantity
Guangdong Highway Construction RMB Common
466,325,020 466,325,020
Co., Ltd, shares
Shangdong Expressway Investment RMB Common
202,429,149 202,429,149
Development Co., Ltd. shares
Guangdong Communication Group RMB Common
103,379,742 103,379,742
Co., Ltd. shares
Tibet Yingyue Investment RMB Common
101,214,574 101,214,574
Management Co., Ltd. shares
China Life Insurance Co., Ltd.－
RMB Common
Dividend －Personal dividend 41,009,355 41,009,355
shares
-005L-FH002 Shen
China Life Insurance Co., Ltd.－
RMB Common
Traditional－Common insurance 37,225,847 37,225,847
shares
products-005L-CT001Shen
RMB Common
Guangdong Expressway Co., Ltd. 33,355,263 33,355,263
shares
RMB Common
Orient Securities Co., Ltd. 22,508,593 22,508,593
shares
RMB Common
18,470,490
shares
Foreign shares
Feng Wuchu 20,776,353
placed in
2,305,863
domestic
exchange
Foreign shares
placed in
Xinyue Co., Ltd. 13,201,086 13,201,086
domestic
exchange
Guangdong Communication Group Co., Ltd. is the parent company of Guangdong Highway
Explanation on associated Construction Co., Ltd.,Guangdong Expressway Co., Ltd.and Xinyue Co., Ltd., It is unknown
relationship or concerted action of whether there is relationship between other shareholders and whether they are persons taking
the above shareholders concerted action specified in the Regulations on Disclosure of Information about Change in
Shareholding of Shareholders of Listed Companies.
Participation of top 10 unconditional None
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The Third Quarterly Report 2020
common share shareholders in
securities margin trading (if any)
Whether top ten common shareholders or top ten common shareholders with un-restrict shares held have a
buy-back agreement dealing in reporting period.
□ Yes √ No
The top ten common shareholders or top ten common shareholders with un-restrict shares held of the Company
have no buy –back agreement dealing in reporting period.
2.Total number of preferred shareholders and shareholding of top 10 preferred shareholders by the end of
the report period
□ Applicable √Not applicable
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The Third Quarterly Report 2020
III Significant Events
I. Major changes of main accounting statement items and financial indicators in the reporting period, as well as
reasons for the changes
√ Applicable □ Not applicable
（I）Items of balance sheet as compared with the beginning of this year.
1. Accounts receivable increased by 40.68 million yuan and 31.85% from the beginning of the year, mainly
due to the increase in toll income to be split between Guangdong Provincial Expressway Development Co., Ltd.
Fokai Branch and Jingzhu Expressway Guangzhu Section Co., Ltd.
2. Non-current liabilities due within one year decreased by 544.46 million yuan and 69.67% from the
beginning of the year, which is the combined effect of the company's repayment of 899.16 million yuan of loans
due, long-term payables and reclassification of accounts.
3. Bonds payable increased by 748.13 million yuan and 110.32%, from the beginning of the year, which are
five-year medium-term notes issued 750 million yuan by the company in March 2020.
4. Other comprehensive income decreased by 135.87 million yuan and 35.55% from the beginning of the year,
which is the combined effect of the parent company's confirmation of changes in the fair value of shares of China
Everbright Bank Corporation Limited and confirmation of changes in other comprehensive income of Guoyuan
Securities Corporation Limited by share ratio.
(II) Items of income statement as compared with the same period of the previous year
1.Operating income decreased by 856.19 million yuan and 37.54 % year on year ,of which, The toll income of
Fokai Expressway decreased by 325.81 million yuan from the same period of the previous year, the toll income of
Jingzhu Expressway Guangzhu section decreased by 415.14 million yuan, and the toll income of Guangfo
Expressway decreased by 133.62 million yuan. Mainly due to the following factors:（1）Due to the sudden new
coronary virus pneumonia epidemic, Due to the nationwide emergency first-level response, the original toll-free
period during the statutory Spring Festival holiday (January 24-January 30) was extended to February 8;
（2）According to the relevant regulations of the Ministry of Transport, From 0:00 on February 17, 2020 to 24:00
On May 5,2020 the toll fees for vehicles on roads across the country previously toll charged shall be exempted.
2.Invesement income decreased by 155.41 million yuan and 37.39% year on year, Mainly due to the impact
of the new corona-virus epidemic, the profit of the share-participating companies decreased leading to the
Company’s investment income decreased.
3.Income tax decreased by 157.14 million yuan and 54.47% year on year, Mainly due to the total profit of the
Company decreased due to the impact of the corona-virus epidemic.
4. The net profit attributable to the owner of the parent company decreased by 762.53 million yuan and
68.84% year on year, mainly due to the combined effects of the above factors.
(III) Notes of main items of cash flow statement
1. Cash received from sales of goods or rending of services decreased by 930.07 million yuan and 39.67%
year on year, Mainly due to the impact of the new corona-virus epidemic, For details, please refer to the above
reasons for the decline in operating income.
2. Other cash paid for business activities increased by 46.62 million yuan and 105.38% , This is mainly
because Fokai Branch, Guangfo Expressway Co., Ltd. and Jingzhu Expressway Guangzhu Section Company have
received 35.41 million yuan in subsidies for canceling provincial toll stations.
3. Cash paid for purchasing of merchandise and services, The main accounting payment of special projects,
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The Third Quarterly Report 2020
maintenance costs and networking fees, etc. This period witnessed a year-on-year decrease of 54.12 million yuan
and 30.88%, mainly due to the year-on-year decrease in project funds paid by Fokai Branch, Guangfo Expressway
Co., Ltd. and Jingzhu Expressway Guangzhu Section Company.
4. Taxes paid，The current period decreased by 159.77 million yuan and 51.52% year on year，Mainly due to
the impact of the new corona-virus epidemic, Various taxes and fees payable were reduced due to the decrease in
toll income.
5. Cash paid for construction of fixed assets, intangible assets and other long-term assets decreased by 300.49
million yuan and 51.12% year on year, It is mainly because the main line of the reconstruction and expansion
project of Sanbao-Shuikou section of Fokai Branch has been completed and opened to traffic, and the amount of
progress payment has been reduced.
6. Cash received from borrowing decreased by 2361.7 million and 62.87% year on year, The reason was that
the parent company’s current borrowings decreased by 1,200 million yuan YOY, the Fokai Branch’s current
borrowings decreased by 755 million yuan, and Jingzhu Expressway Guangzhu Section Co., Ltd.’s current
borrowings decreased by 406.7 million yuan.
7. Cash to repay debts decreased by 1,683.19 million and 55.85% year on year, The reason is that the parent
company's loan repayment in this period decreased by 1,241.51 million yuan year on year, and the loan repayment
in this period of Jingzhu Expressway Guangzhu Section Co., Ltd. decreased by 441.68 million yuan year on year.
II. The progress of significant events and influence, as well as the analysis and explanation on resolving
proposal.
√ Applicable □Not applicable
On July 16, 2020, the Company received the "Notice on Starting the Asset Reorganization of Expressway
Projects" from the controlling shareholder Guangdong Transportation Group Co., Ltd., stated Guangdong
Communication Group Co., Ltd will plan the asset reorganization of the expressway projects. The underlying
assets and transaction method involved in the planned asset reorganization was planned as follows: Guangdong
Expressway Co., Ltd. transfers its holding equity of 21% equity of Guangdong Guanghui Expressway Co., Ltd to
the Company, and the Company pays the consideration in cash.
According to the relevant regulations of the Shenzhen Stock Exchange, the Company shall disclose the
progress announcement every 10 trading days.
Announcement Date of disclosure Website for disclosure
Reminder announcement on planning
July 17,2020 www.cninfo.com.cn
major asset reorganization matter
Announcement on the progress of planning
July 29,2020 www.cninfo.com.cn
major asset restructuring matter
Announcement on the progress of planning
August 28,2020 www.cninfo.com.cn
major asset restructuring matter
Announcement on the progress of planning
September 11,2020 www.cninfo.com.cn
major asset restructuring matter
Announcement on the progress of planning
September 25,2020 www.cninfo.com.cn
major asset restructuring matter
Progress in the implementation of share repurchase
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The Third Quarterly Report 2020
□ Applicable √ Not applicable
Progress in the implementation of the reduction of the repurchased shares by means of centralized bidding
□ Applicable √ Not applicable
III. Commitments finished in implementation by the Company, shareholders, actual controller, acquirer,
directors, supervisors, senior executives or other related parties in the reporting period and commitments
unfinished in implementation at the end of the reporting period
□ Applicable √ Not applicable
The company has no commitments completed in period and those without completed till lend of the period from
actual controller, shareholders, related parties, purchaser and companies.
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The Third Quarterly Report 2020
IV. Financial asset investment
1. Investment in securities
√ Applicable □Not applicable
In RMB
Mode of Purchase Sale
Book value Book value
Stock accounti Changes in Cumulative fair amount amount Gain/loss of Account Source
Security Security Initial balance at the balance at the
Abbreviati ng fair value of value changes in in the in the the reporting ing of the
category code investment cost beginning of the end of the
on: measure the this period equity this this period items shares
reporting period reporting period
ment period period
China
Domestic and Other Self
601818 Everbright 517,560,876.80 FVM 1,037,474,303.04 341,119,668.80 50,344,558.02 858,680,545.60
foreign stocks assets fund
Bank
Total 517,560,876.80 -- 1,037,474,303.04 0.00 341,119,668.80 0.00 0.00 50,344,558.02 858,680,545.60 -- --
Disclosure date for the notice of
July 22,2009
approval by the Board (If any)
Disclosure date for the notice of
approval by shareholders’ Meeting (If August 7,2009
any)
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The Third Quarterly Report 2020
2.Investment in derivatives
□ Applicable √Not applicable
There is no derivative investment during the report period.
V. Progress of investment projects with raised funds
□ Applicable √Not applicable
VI. Prediction of 2020 business performance
Estimation on accumulative net profit from the beginning of the year to the end of next report period to be loss
probably or the warning of its material change compared with the corresponding period of the last year and
explanation on reason
□ Applicable √ Not applicable
VII. Major contracts for daily operations
□ Applicable √ Not applicable
VIII. Entrusted Financial Management
□ Applicable √Not applicable
There is no Entrusted Financial Management during the report period.
IX. External guarantee get out of line
□ Applicable √Not applicable
The Company has no external guarantee get out of the line in the Period
X. Controlling shareholder and its related parties occupying non-business capital of the listed company
□ Applicable √Not applicable
There are no controlling shareholder and its related parties occupying non-business capital of the listed company
in Period
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The Third Quarterly Report 2020
XI. The registration form of acceptance of investigation, communication and interview in the report period for future reference
√ Applicable □Not applicable
Way of Types of Disclosure of
Reception time Place Visitor Main content involved and materials provided
reception visitors information
Telephone survey of Guotai Junan Securities
Research Institute; Zheng Wu and Huangfu Xiaohan
of Guotai Junan Securities Research Institute;Wang 1. The main content of research:1. the daily
Meeting room Zitong of Shanghai Dazheng Investment Co., operation; 2. the company's financial data
August 27,2020 of the By phone Organization Ltd.;Zeng Shang of Tibet Yuancheng Investment analysis;3. development strategy; 4. analysis www.cninfo.com.cn
Company Management Co., Ltd.;Zhang Gang of Shenzhen on the industry. 2.Primary data investigation:
Ximengbei Asset Management Co., Ltd.;Yan Feng Public information company regularly reports
of Bosc Asset and Cheng Zhixiong of Shenzhen
Qianhai Dingye Investment Development Co., Ltd.
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The Third Quarterly Report 2020
IV. Financial Statement
I. Financial statement
1. Consolidated balance sheet
Prepared by：Guangdong Provincial Expressway Development Co., Ltd.
September 30,2020
In RMB
Items September 30, 2020 December 31,2019
Current asset：
Monetary fund 2,617,519,510.01 2,817,920,894.50
Settlement provision
Outgoing call loan
Transactional financial assets
Derivative financial assets
Notes receivable
Account receivable 168,371,390.12 125,343,724.66
Financing of receivables
Prepayments 4,450,387.83 10,894,246.41
Insurance receivable
Reinsurance receivable
Provisions of Reinsurance contracts
receivable
Other account receivable 48,772,356.54 26,618,178.57
Including：Interest receivable
Dividend receivable 37,205,472.90 7,205,472.90
Other account receivable 11,566,883.64 19,412,705.67
Repurchasing of financial assets
Inventories 89,116.85 111,683.22
Contract assets 5,182,256.86
Assets held for sales
Non-current asset due within 1 year 51,745.32 51,745.32
Other current asset 7,087,899.28
Total of current assets 2,851,524,662.81 2,980,940,472.68
Non-current assets：
Loans and payment on other’s behalf
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The Third Quarterly Report 2020
Items September 30, 2020 December 31,2019
disbursed
Creditor's right investment
Other Creditor's right investment
Long-term receivable
Long term share equity investment 3,363,775,812.90 3,255,739,898.36
Other equity instruments investment 1,657,028,847.33 1,835,822,604.77
Other non-current financial assets
Property investment 3,165,661.51 3,331,500.37
Fixed assets 8,474,304,554.47 8,925,700,473.65
Including：Fixed assets 8,474,266,661.61 8,925,700,473.65
Liquidation of fixed assets 37,892.86
Construction in progress 189,943,453.62 229,098,299.48
Including：Construction in progress 189,943,453.62 229,098,299.48
Engineering Materials
Production physical assets
Oil & gas assets
Use right assets
Intangible assets 5,131,601.73 6,393,895.17
Development expenses
Goodwill
Long-germ expenses to be amortized 1,061,255.72 1,114,764.44
Deferred income tax asset 354,850,432.16 385,494,106.13
Other non-current asset 4,691,049.25 50,909,325.73
Total of non-current assets 14,053,952,668.69 14,693,604,868.10
Total of assets 16,905,477,331.50 17,674,545,340.78
Current liabilities
Short-term loans 200,000,000.00
Loan from Central Bank
Borrowing funds
Transactional financial liabilities
Derivative financial liabilities
Notes payable
Account payable 273,199,808.48 290,657,734.31
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The Third Quarterly Report 2020
Items September 30, 2020 December 31,2019
Advance receipts 10,869,603.32 15,605,094.69
Contract Liabilities
Selling of repurchased financial assets
Deposit taking and interbank deposit
Entrusted trading of securities
Entrusted selling of securities
Employees’ wage payable 16,271,291.04 14,822,524.70
Tax payable 79,260,014.41 84,257,586.94
Other account payable 417,829,386.70 626,180,586.92
Including：Interest payable
Dividend payable 49,246,597.30 20,020,119.31
Other account payable 368,582,789.40 606,160,467.61
Fees and commissions payable
Reinsurance fee payable
Liabilities held for sales
Non-current liability due within 1 year 241,398,157.42 795,861,958.07
Other current liability 7,805,854.13 189,628.17
Total of current liability 1,246,634,115.50 1,827,575,113.80
Non-current liabilities：
Reserve fund for insurance contracts
Long-term loan 4,478,457,500.00 4,640,425,000.00
Bond payable 1,426,251,240.76 678,124,972.89
Including：preferred stock
Sustainable debt
Lease liability
Long-term payable 40,406,172.36 39,369,379.91
Including：Long-term payable 40,406,172.36 39,369,379.91
Special payable
Long-term remuneration payable to
staff
Expected liabilities
Deferred income 29,927,018.42
Deferred income tax liability 196,032,018.83 238,453,976.29
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The Third Quarterly Report 2020
Items September 30, 2020 December 31,2019
Other non-current liabilities
Total non-current liabilities 6,171,073,950.37 5,596,373,329.09
Total of liability 7,417,708,065.87 7,423,948,442.89
Owners’ equity
Share capital 2,090,806,126.00 2,090,806,126.00
Other equity instruments
Including：preferred stock
Sustainable debt
Capital reserves 2,589,295,515.31 2,562,570,465.31
Less：Shares in stock
Other comprehensive income 246,323,864.67 382,193,344.90
Special reserve
Surplus reserves 910,425,068.90 910,425,068.90
Common risk provision
Retained profit 3,340,313,691.89 3,877,431,844.64
Total of owner’s equity belong to the
9,177,164,266.77 9,823,426,849.75
parent company
Minority shareholders’ equity 310,604,998.86 427,170,048.14
Total of owners’ equity 9,487,769,265.63 10,250,596,897.89
Total of liabilities and owners’ equity 16,905,477,331.50 17,674,545,340.78
Legal Representative: Zheng Renfa
General Manager: Wang Chunhua
Person-in-charge of the accounting work：Fang Zhi
Person-in -charge of the accounting organ：Zhou Fang
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The Third Quarterly Report 2020
2.Parent Company Balance Sheet
In RMB
Items September 30,2020 December 31,2019
Current asset：
Monetary fund 2,582,094,773.72 2,791,384,501.78
Transactional financial assets
Derivative financial assets
Notes receivable
Account receivable 25,108,426.80 21,864,051.27
Financing of receivables
Prepayments 1,031,754.00 1,737,598.88
Other account receivable 124,463,834.90 13,435,651.19
Including：Interest receivable
Dividend receivable 118,156,851.62 7,205,472.90
Other receivable 6,306,983.28 6,230,178.29
Inventories
Contract assets
Assets held for sales
Non-current asset due within 1 year 191,851,125.66 151,637,139.08
Other current asset 432,671.23
Total of current assets 2,924,982,586.31 2,980,058,942.20
Non-current assets：
Creditor's right investment 539,903,684.98 537,903,684.98
Other Creditor's right investment
Long-term receivable
Long term share equity investment 4,896,366,150.91 4,789,404,907.17
Other equity instruments investment 1,657,028,847.33 1,835,822,604.77
Other non-current financial assets
Property investment 2,913,523.26 3,079,362.12
Fixed assets 6,405,628,425.71 6,818,701,482.08
Including：Fixed assets 6,405,628,425.71 6,818,701,482.08
Liquidation of fixed assets
Construction in progress 23,578,648.80 46,952,925.08
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The Third Quarterly Report 2020
Items September 30,2020 December 31,2019
Including： Construction in progress 23,578,648.80 46,952,925.08
Engineering material
Production physical assets
Oil & gas assets
Use right assets
Intangible assets 1,955,691.81 2,533,878.12
Development expenses
Goodwill
Long-germ expenses to be amortized
Deferred income tax asset 350,725,570.29 385,296,935.33
Other non-current asset 264,364.98 36,901,029.57
Total of non-current assets 13,878,364,908.07 14,456,596,809.22
Total of assets 16,803,347,494.38 17,436,655,751.42
Current liabilities
Short-term loans 200,000,000.00
Transactional financial liabilities
Derivative financial liabilities
Notes payable
Account payable 146,992,135.34 129,930,285.56
Advance receipts
Contract Liabilities
Employees’ wage payable 6,021,266.35 6,340,740.61
Tax payable 5,918,764.00 8,704,510.83
Other account payable 349,837,977.63 582,131,356.01
Including：Interest payable
Dividend payable 22,262,804.39 20,020,119.31
Other account payable 327,575,173.24 562,111,236.70
Liabilities held for sales
Non-current liability due within 1 year 171,707,907.69 744,589,133.72
Other current liability 574,316,635.90 821,133,339.57
Total of current liability 1,454,794,686.91 2,292,829,366.30
Non-current liabilities：
Long-term loan 4,023,762,500.00 4,243,730,000.00
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The Third Quarterly Report 2020
Items September 30,2020 December 31,2019
Bond payable 1,426,251,240.76 678,124,972.89
Including：preferred stock
Sustainable debt
Lease liability
Long-term payable 40,406,172.36 39,369,379.91
Including：Long-term payable 40,406,172.36 39,369,379.91
Special payable
Long-term remuneration payable to
staff
Expected liabilities
Deferred income 14,223,938.99
Deferred income tax liability 85,279,917.20 129,978,356.56
Other non-current liabilities
Total non-current liabilities 5,589,923,769.31 5,091,202,709.36
Total of liability 7,044,718,456.22 7,384,032,075.66
Owners’ equity
Share capital 2,090,806,126.00 2,090,806,126.00
Other equity instruments
Including：preferred stock
Sustainable debt
Capital reserves 3,001,183,746.93 2,974,458,696.93
Less：Shares in stock
Other comprehensive income 246,323,864.67 382,193,344.90
Special reserve
Surplus reserves 894,580,785.25 894,580,785.25
Retained profit 3,525,734,515.31 3,710,584,722.68
Total of owners’ equity 9,758,629,038.16 10,052,623,675.76
Total of liabilities and owners’ equity 16,803,347,494.38 17,436,655,751.42
Legal Representative: Zheng Renfa
General Manager: Wang Chunhua
Person-in-charge of the accounting work：Fang Zhi
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The Third Quarterly Report 2020
Person-in -charge of the accounting organ：Zhou Fang
3.Consolidated Income statement of the Report period
In RMB
Items Amount in this period Amount in last period
I. Turnover 763,407,014.35 796,831,081.45
Including: Operating income 763,407,014.35 796,831,081.45
Interest income
Insurance fee earned
Fee and commission received
II. Total operating costs 430,797,879.65 408,683,513.05
Including ：Operating costs 338,231,885.58 310,517,119.58
Interest expense
Fee and commission paid
Insurance discharge payment
Net claim amount paid
Appropriation of deposit for duty, net
Insurance policy dividend paid
Reinsurance expenses
Business tax and surcharge 3,316,464.07 3,696,459.38
Sales expense
Administrative expense 35,592,532.20 40,415,600.33
R & D expense
Financial expenses 53,656,997.80 54,054,333.76
Including ：Interest expense 64,237,587.95 58,646,545.15
Interest income 10,202,793.23 5,500,733.79
Add：Other income 2,488,809.85 725,865.31
Investment gain（“-”for loss） 153,637,927.67 139,449,983.30
Including: investment gains from
153,637,927.67 139,066,452.38
affiliates
Financial assets measured at amortized
cost cease to be recognized as income
Gains from currency exchange
Net exposure hedging income
Changing income of fair value
20
The Third Quarterly Report 2020
Items Amount in this period Amount in last period
Credit impairment loss
Impairment loss of assets
Assets disposal income
III. Operating profit（“-”for loss） 488,735,872.22 528,323,417.01
Add ：Non-operating income 2,031,835.52 1,237,352.91
Less: Non-operating expenses 955,571.20 485,161.05
IV. Total profit(“-”for loss) 489,812,136.54 529,075,608.87
Less：Income tax expenses 88,118,624.57 98,800,338.73
V. Net profit 401,693,511.97 430,275,270.14
(I) Classification by business
continuity
1.Net continuing operating profit 401,693,511.97 430,275,270.14
2.Termination of operating net profit
(II) Classification by ownership
1.Net profit attributable to the owners of
351,032,289.60 371,244,455.76
parent company
2.Minority shareholders’ equity 50,661,222.37 59,030,814.38
VI. Net after-tax of other comprehensive
8,043,444.30 24,758,918.08
income
Net of profit of other comprehensive inco
8,043,444.30 24,758,918.08
me attributable to owners of the parent co
mpany.
（I）Other comprehensive income items
that will not be reclassified into
12,350,884.56 22,937,357.04
gains/losses in the subsequent accounting
period
1.Re-measurement of defined benefit pla
ns of changes in net debt or net assets
2.Other comprehensive income under the
equity method investee can not be reclass
ified into profit or loss.
3. Changes in the fair value of
12,350,884.56 22,937,357.04
investments in other equity instruments
4. Changes in the fair value of the
company’s credit risks
21
The Third Quarterly Report 2020
Items Amount in this period Amount in last period
5.Other
（II）
Other comprehensive income that will be -4,307,440.26 1,821,561.04
reclassified into profit or loss.
1.Other comprehensive income under the
-4,307,440.26 1,821,561.04
equity method investee can be reclassifie
d into profit or loss.
2. Changes in the fair value of
investments in other debt obligations
3. Other comprehensive income arising
from the reclassification of financial
assets
4.Allowance for credit impairments in
investments in other debt obligations
5. Reserve for cash flow hedges
6.Translation differences in currency fina
ncial statements
7.Other
Net of profit of other comprehensive inco
me attributable to Minority shareholders’
equity
VII. Total comprehensive income 409,736,956.27 455,034,188.22
Total comprehensive income attributable
359,075,733.90 396,003,373.84
to the owner of the parent company
Total comprehensive income
50,661,222.37 59,030,814.38
attributable minority shareholders
VIII. Earnings per share
（I）Basic earnings per share 0.17 0.18
(II)Diluted earnings per share 0.17 0.18
The current business combination under common control, the net profits of the combined party before achieved ne
t profit of RMB 0.00, last period the combined party realized RMB0.00.
Legal Representative: Zheng Renfa
General Manager: Wang Chunhua
Person-in-charge of the accounting work：Fang Zhi
22
The Third Quarterly Report 2020
Person-in -charge of the accounting organ：Zhou Fang
4.Income statement of the Parent Company of the Report period
In RMB
Items Amount in this period Amount in last period
I. Revenue 345,290,053.53 342,418,541.44
Including ：Operating costs 215,071,734.20 198,429,214.26
Business tax and surcharge 1,871,678.43 2,004,169.87
Sales expense
Administrative expense 22,317,906.60 24,497,934.85
R & D expense
Financial expenses 51,365,737.56 49,775,101.80
Including：Interest expenses 62,681,289.65 55,249,291.52
Interest income 10,152,704.97 5,487,589.69
Add：Other income 820,611.86
Investment gain（“-”for loss） 349,779,119.77 154,270,235.80
Including: investment gains from
152,563,256.87 139,066,452.38
affiliates
Financial assets measured at
amortized cost cease to be recognized
as income
Net exposure hedging income
Changing income of fair value
Credit impairment loss
Impairment loss of assets
Assets disposal income
II. Operating profit（“-”for loss） 405,262,728.37 221,982,356.46
Add ：Non-operating income 1,821,874.42 953,148.06
Less：Non -operating expenses 400,686.60 357,431.46
III. Total profit(“-”for loss) 406,683,916.19 222,578,073.06
Less：Income tax expenses 21,558,803.60 20,782,022.44
IV. Net profit 385,125,112.59 201,796,050.62
1.Net continuing operating profit 385,125,112.59 201,796,050.62
2.Termination of operating net profit
23
The Third Quarterly Report 2020
Items Amount in this period Amount in last period
V. Net after-tax of other comprehensive
8,043,444.30 24,758,918.08
income
（I）Other comprehensive income items
that will not be reclassified into
12,350,884.56 22,937,357.04
gains/losses in the subsequent
accounting period
1.Re-measurement of defined benefit pl
ans of changes in net debt or net assets
2.Other comprehensive income under th
e equity method investee can not be recl
assified into profit or loss.
3. Changes in the fair value of
12,350,884.56 22,937,357.04
investments in other equity instruments
4. Changes in the fair value of the
company’s credit risks
5.Other
(II)Other comprehensive income that wi -4,307,440.26 1,821,561.04
ll be reclassified into profit or loss
1.Other comprehensive income under th
-4,307,440.26 1,821,561.04
e equity method investee can be reclassi
fied into profit or loss.
2. Changes in the fair value of
investments in other debt obligations
3. Other comprehensive income arising
from the reclassification of financial
assets
4.Allowance for credit impairments in
investments in other debt obligations
5. Reserve for cash flow hedges
6.Translation differences in currency fin
ancial statements
7.Other
VI. Total comprehensive income 393,168,556.89 226,554,968.70
VII. Earnings per share
（I）Basic earnings per share
24
The Third Quarterly Report 2020
Items Amount in this period Amount in last period
(II)Diluted earnings per share
Legal Representative: Zheng Renfa
General Manager: Wang Chunhua
Person-in-charge of the accounting work：Fang Zhi
Person-in -charge of the accounting organ：Zhou Fang
5. Consolidated Income statement between the beginning of the year and end of the report period
In RMB
Items Amount in this period Amount in last period
I. Turnover 1,424,305,976.14 2,280,504,326.66
Including：Operating income 1,424,305,976.14 2,280,504,326.66
Interest income
Insurance fee earned
Commission charge and commission
income
II. Total operating costs 1,145,251,508.45 1,145,369,320.38
Including：Operating costs 862,407,010.64 860,140,930.07
Interest expense
Fee and commission paid
Insurance discharge payment
Net claim amount paid
Appropriation of deposit for duty, net
Insurance policy dividend paid
Reinsurance expenses
Business tax and surcharge 6,990,268.04 10,253,483.35
Sales expense
Administrative expense 103,583,451.68 117,390,810.80
R & D expense
Financial expenses 172,270,778.09 157,584,096.16
Including：Interest expense 196,012,356.85 173,687,402.86
Interest income 24,963,549.41 21,262,441.48
25
The Third Quarterly Report 2020
Items Amount in this period Amount in last period
Add：Other income 6,360,099.05 1,146,092.93
Investment gain（“-”for loss） 260,276,492.20 415,691,849.62
Including: investment gains from
209,491,279.16 376,779,450.47
affiliates
Financial assets measured at amortized
cost cease to be recognized as income
Gains from currency exchange
Net exposure hedging income
Changing income of fair value
Credit impairment loss -236,683.81
Impairment loss of assets
Assets disposal income 4.37 13,129,094.29
III. Operating profit（“-”for loss） 545,454,379.50 1,565,102,043.12
Add ：Non-operating income 6,109,512.47 1,972,712.67
Less: Non-operating expense 3,147,579.68 4,716,569.00
IV. Total profit(“-”for loss) 548,416,312.29 1,562,358,186.79
Less：Income tax expenses 131,358,775.61 288,497,112.78
V. Net profit 417,057,536.68 1,273,861,074.01
(I) Classification by business
continuity
1.Net continuing operating profit 417,057,536.68 1,273,861,074.01
2.Termination of operating net profit
(II) Classification by ownership
1.Net profit attributable to the owners of
345,202,032.42 1,107,730,568.06
parent company
2.Minority shareholders’ equity 71,855,504.26 166,130,505.95
VI. Net after-tax of other comprehensive
-135,869,480.23 43,697,001.82
income
Net of profit of other comprehensive inco
-135,869,480.23 43,697,001.82
me attributable to owners of the parent co
mpany.
（I）Other comprehensive income items
that will not be reclassified into
-134,095,318.08 42,345,889.92
gains/losses in the subsequent accounting
period
26
The Third Quarterly Report 2020
Items Amount in this period Amount in last period
1.Re-measurement of defined benefit pla
ns of changes in net debt or net assets
2.Other comprehensive income under the
equity method investee can not be reclass
ified into profit or loss.
3. Changes in the fair value of
-134,095,318.08 42,345,889.92
investments in other equity instruments
4. Changes in the fair value of the
company’s credit risks
5.Other
(II)Other comprehensive income that will -1,774,162.15 1,351,111.90
be reclassified into profit or loss
1.Other comprehensive income under the
-1,774,162.15 1,351,111.90
equity method investee can be reclassifie
d into profit or loss.
2. Changes in the fair value of
investments in other debt obligations
3. Other comprehensive income arising
from the reclassification of financial
assets
4.Allowance for credit impairments in
investments in other debt obligations
5. Reserve for cash flow hedges
6.Translation differences in currency fina
ncial statements
7.Other
Net of profit of other comprehensive inco
me attributable to Minority shareholders’
equity
VII. Total comprehensive income 281,188,056.45 1,317,558,075.83
Total comprehensive income attributable
209,332,552.19 1,151,427,569.88
to the owner of the parent company
Total comprehensive income
71,855,504.26 166,130,505.95
attributable minority shareholders
VIII. Earnings per share
27
The Third Quarterly Report 2020
Items Amount in this period Amount in last period
（I）Basic earnings per share 0.17 0.53
(II)Diluted earnings per share 0.17 0.53
The current business combination under common control, the net profits of the combined party before achieved ne
t profit of RMB 0.00, last period the combined party realized RMB0.00.
Legal Representative: Zheng Renfa
General Manager: Wang Chunhua
Person-in-charge of the accounting work：Fang Zhi
Person-in -charge of the accounting organ：Zhou Fang
6.Income Statement of the Parent Between the Beginning of the Year and End of the Report Period
In RMB
Items Amount in this period Amount in last period
I. Revenue 638,869,783.57 965,545,058.79
Including ：Operating costs 543,729,693.04 527,619,888.78
Business tax and surcharge 4,286,607.15 5,490,462.24
Sales expense
Administrative expense 62,581,563.09 71,493,995.49
R & D expense
Financial expenses 163,307,565.75 146,152,262.04
Including：Interest expenses 189,304,423.71 164,808,705.82
Interest income 24,870,918.66 21,139,717.95
Add：Other income 2,169,427.73 70,758.72
Investment gain（“-”for loss） 862,863,321.92 1,129,929,737.50
Including: investment gains from
208,416,608.36 376,779,450.47
affiliates
Financial assets measured at
amortized cost cease to be recognized
as income
Net exposure hedging income
Changing income of fair value
Credit impairment loss
28
The Third Quarterly Report 2020
Items Amount in this period Amount in last period
Impairment loss of assets
Assets disposal income 4.37
II. Operating profit（“-”for loss） 729,997,108.56 1,344,788,946.46
Add ：Non-operating income 2,854,966.85 1,252,084.02
Less：Non -operating expenses 810,732.57 728,260.63
III. Total profit(“-”for loss) 732,041,342.84 1,345,312,769.85
Less：Income tax expenses 34,571,365.04 64,865,201.09
IV. Net profit 697,469,977.80 1,280,447,568.76
1.Net continuing operating profit 697,469,977.80 1,280,447,568.76
2.Termination of operating net profit
V. Net after-tax of other comprehensive
-135,869,480.23 43,697,001.82
income
（I）Other comprehensive income items
that will not be reclassified into
-134,095,318.08 42,345,889.92
gains/losses in the subsequent
accounting period
1.Re-measurement of defined benefit pl
ans of changes in net debt or net assets
2.Other comprehensive income under th
e equity method investee can not be recl
assified into profit or loss.
3. Changes in the fair value of
-134,095,318.08 42,345,889.92
investments in other equity instruments
4. Changes in the fair value of the
company’s credit risks
5.Other
（II）
Other comprehensive income that will b -1,774,162.15 1,351,111.90
e reclassified into profit or loss.
1.Other comprehensive income under th
e equity method investee can be reclassi -1,774,162.15 1,351,111.90
fied into profit or loss.
2. Changes in the fair value of
investments in other debt obligations
3. Other comprehensive income arising
from the reclassification of financial
assets
29
The Third Quarterly Report 2020
Items Amount in this period Amount in last period
4. Allowance for credit impairments in
investments in other debt obligations
5. Reserve for cash flow hedges
6.
Translation differences in currency fina
ncial statements
7.Other
VI. Total comprehensive income 561,600,497.57 1,324,144,570.58
VII. Earnings per share
（I）Basic earnings per share
(II)Diluted earnings per share
Legal Representative: Zheng Renfa
General Manager: Wang Chunhua
Person-in-charge of the accounting work：Fang Zhi
Person-in -charge of the accounting organ：Zhou Fang
7. Consolidated Cash Flow Statement Between the Beginning of the Year and End of the Report Period
In RMB
Items Amount in this period Amount in last period
I.Cash flows from operating activities
Cash received from sales of goods or
1,414,313,148.67 2,344,383,753.90
rending of services
Net increase of customer deposits and
capital kept for brother company
Net increase of loans from central bank
Net increase of inter-bank loans from
other financial bodies
Cash received against original insurance
contract
Net cash received from reinsurance
business
Net increase of client deposit and
investment
30
The Third Quarterly Report 2020
Items Amount in this period Amount in last period
Cash received from interest,
commission charge and commission
Net increase of inter-bank fund received
Net increase of repurchasing business
Net cash received by agent in
securities trading
Tax returned
Other cash received from business
90,863,613.91 44,239,546.43
operation
Sub-total of cash inflow 1,505,176,762.58 2,388,623,300.33
Cash paid for purchasing of
121,141,667.08 175,258,111.40
merchandise and services
Net increase of client trade and advance
Net increase of savings in central bank
and brother company
Cash paid for original contract claim
Net increase for Outgoing call loan
Cash paid for interest, processing fee
and commission
Cash paid for policy dividend
Cash paid to staffs or paid for staffs 198,975,181.20 216,220,155.68
Taxes paid 150,371,056.82 310,136,078.87
Other cash paid for business activities 37,481,357.28 52,225,350.39
Sub-total of cash outflow from business
507,969,262.38 753,839,696.34
activities
Net cash generated from /used in
997,207,500.20 1,634,783,603.99
operating activities
II. Cash flow generated by investing
Cash received from investment
retrieving
Cash received as investment gains 227,191,465.51 270,260,694.55
Net cash retrieved from disposal of
fixed assets, intangible assets, and other 19,025.00 13,963,900.00
long-term assets
Net cash received from disposal of
subsidiaries or other operational units
31
The Third Quarterly Report 2020
Items Amount in this period Amount in last period
Other investment-related cash received
Sub-total of cash inflow due to
227,210,490.51 284,224,594.55
investment activities
Cash paid for construction of fixed
assets, intangible assets and other 287,376,018.67 587,874,379.29
long-term assets
Cash paid as investment 80,000,000.00
Net increase of loan against pledge
Net cash received from subsidiaries and
other operational units
Other cash paid for investment
activities
Sub-total of cash outflow due to
367,376,018.67 587,874,379.29
investment activities
Net cash flow generated by investment -140,165,528.16 -303,649,784.74
III.Cash flow generated by financing
Cash received as investment
Including: Cash received as investment
from minor shareholders
Cash received as loans 1,395,000,000.00 3,756,700,000.00
Other financing –related cash received
Sub-total of cash inflow from financing
1,395,000,000.00 3,756,700,000.00
activities
Cash to repay debts 1,330,808,612.50 3,014,002,500.00
Cash paid as dividend, profit, or
1,122,241,257.94 1,587,922,592.34
interests
Including: Dividend and profit paid by
subsidiaries to minor shareholders
Other cash paid for financing activities 1,122,177.00 791,384.00
Sub-total of cash outflow due to
2,454,172,047.44 4,602,716,476.34
financing activities
Net cash flow generated by financing -1,059,172,047.44 -846,016,476.34
IV. Influence of exchange rate
1,728,690.91 -1,534,520.73
alternation on cash and cash equivalents
V.Net increase of cash and cash
-200,401,384.49 483,582,822.18
equivalents
32
The Third Quarterly Report 2020
Items Amount in this period Amount in last period
Add: balance of cash and cash
2,816,699,694.50 2,123,303,796.32
equivalents at the beginning of term
VI ..Balance of cash and cash
2,616,298,310.01 2,606,886,618.50
equivalents at the end of term
Legal Representative: Zheng Renfa
General Manager: Wang Chunhua
Person-in-charge of the accounting work：Fang Zhi
Person-in -charge of the accounting organ：Zhou Fang
8. Cash Flow Statement of the Parent Between the Beginning of the Year and End of the Report Period
In RMB
Items Amount in this period Amount in last period
I.Cash flows from operating activities
Cash received from sales of goods or
653,751,664.34 991,093,953.83
rending of services
Tax returned
Other cash received from business
56,397,055.19 40,435,161.13
operation
Sub-total of cash inflow 710,148,719.53 1,031,529,114.96
Cash paid for purchasing of
28,094,034.65 56,811,641.02
merchandise and services
Cash paid to staffs or paid for staffs 78,319,133.22 84,950,880.56
Taxes paid 24,748,390.60 36,317,795.45
Other cash paid for business activities 277,964,701.39 170,450,166.76
Sub-total of cash outflow from business
409,126,259.86 348,530,483.79
activities
Net cash generated from /used in
301,022,459.67 682,998,631.17
operating activities
II.Cash flow generated by investing
Cash received from investment
5,000,000.00
retrieving
Cash received as investment gains 711,991,591.17 941,023,466.69
Net cash retrieved from disposal of 7,700.00 4,900.00
33
The Third Quarterly Report 2020
Items Amount in this period Amount in last period
fixed assets, intangible assets, and other
long-term assets
Net cash received from disposal of
subsidiaries or other operational units
Other investment-related cash received
Sub-total of cash inflow due to
711,999,291.17 946,028,366.69
investment activities
Cash paid for construction of fixed
assets, intangible assets 184,304,883.00 548,481,380.34
and other long-term assets
Cash paid as investment 82,000,000.00
Net cash received from subsidiaries and
other operational units
Other cash paid for investment
activities
Sub-total of cash outflow due to
266,304,883.00 548,481,380.34
investment activities
Net cash flow generated by investment 445,694,408.17 397,546,986.35
III. Cash flow generated by financing
Cash received as investment
Cash received as loans 1,335,000,000.00 3,290,000,000.00
Other financing –related ash received
Sub-total of cash inflow from
1,335,000,000.00 3,290,000,000.00
financing activities
Cash to repay debts 1,330,808,612.50 2,572,317,500.00
Cash paid as dividend, profit, or
960,804,497.31 1,350,708,402.36
interests
Other cash paid for financing activities 1,122,177.00 791,384.00
Sub-total of cash outflow due to
2,292,735,286.81 3,923,817,286.36
financing activities
Net cash flow generated by financing -957,735,286.81 -633,817,286.36
IV. Influence of exchange rate
1,728,690.91 -1,534,520.73
alternation on cash and cash equivalents
V.Net increase of cash and cash
-209,289,728.06 445,193,810.43
equivalents
Add: balance of cash and cash 2,790,163,301.78 2,095,376,368.04
34
The Third Quarterly Report 2020
Items Amount in this period Amount in last period
equivalents at the beginning of term
VI ..Balance of cash and cash
2,580,873,573.72 2,540,570,178.47
equivalents at the end of term
Legal Representative: Zheng Renfa
General Manager: Wang Chunhua
Person-in-charge of the accounting work：Fang Zhi
Person-in -charge of the accounting organ：Zhou Fang
II Adjustments to the Financial Statements
1. Adjustment of the relevant items of the financial statements at the current year beginning according to
the new standards for financial instruments, the new standards for revenues and the new standards for
lease implemented commencing from year 2020
√ Applicable □ Not applicable
Whether to adjust the balance sheet accounts at the beginning of the year
√ Yes □No
Consolidated balance sheet
In RMB
Items December 31,2019 January 1,2020 Adjustment
Current asset：
Monetary fund 2,817,920,894.50 2,817,920,894.50
Settlement provision
Outgoing call loan
Transactional financial assets
Derivative financial assets
Notes receivable
Account receivable 125,343,724.66 127,694,377.99 2,350,653.33
Financing of receivables
Prepayments 10,894,246.41 10,894,246.41
Insurance receivable
Reinsurance receivable
35
The Third Quarterly Report 2020
Items December 31,2019 January 1,2020 Adjustment
Provisions of Reinsurance
contracts receivable
Other account receivable 26,618,178.57 19,172,247.47 -7,445,931.10
Including：Interest receivable
Dividend receivable 7,205,472.90 7,205,472.90
Other receivable 19,412,705.67 11,966,774.57 -7,445,931.10
Repurchasing of financial
assets
Inventories 111,683.22 111,683.22
Contract assets 5,095,277.77 5,095,277.77
Assets held for sales
Non-current asset due within
51,745.32 51,745.32
1 year
Other current asset
Total of current assets 2,980,940,472.68 2,980,940,472.68
Non-current assets：
Loan and advancement
provided
Creditor's right
investment
Other Creditor's right
investment
Long-term receivable
Long term share equity
3,255,739,898.36 3,255,739,898.36
investment
Other equity instruments
1,835,822,604.77 1,835,822,604.77
investment
Other non-current financial
assets
Property investment 3,331,500.37 3,331,500.37
Fixed assets 8,925,700,473.65 8,925,700,473.65
Including：Fixed assets 8,925,700,473.65 8,925,700,473.65
Liquidation of fixed assets
Construction in progress 229,098,299.48 229,098,299.48
Including : Construction
229,098,299.48 229,098,299.48
in progress
36
The Third Quarterly Report 2020
Items December 31,2019 January 1,2020 Adjustment
Engineering material
Production physical assets
Oil & gas assets
Use right assets
Intangible assets 6,393,895.17 6,393,895.17
Development expenses
Goodwill
Long-germ expenses to be
1,114,764.44 1,114,764.44
amortized
Deferred income tax asset 385,494,106.13 385,494,106.13
Other non-current asset 50,909,325.73 50,909,325.73
Total of non-current assets 14,693,604,868.10 14,693,604,868.10
Total of assets 17,674,545,340.78 17,674,545,340.78
Current liabilities
Short-term loans
Loan from Central Bank
Borrowing funds
Transactional financial
liabilities
Derivative financial liabilities
Notes payable
Account payable 290,657,734.31 290,657,734.31
Advance receipts 15,605,094.69 12,817,484.06 -2,787,610.63
Contract liabilities 2,787,610.63 2,787,610.63
Selling of repurchased
financial assets
Deposit taking and interbank
deposit
Entrusted trading of
securities
Entrusted selling of securities
Employees’ wage payable 14,822,524.70 14,822,524.70
Tax payable 84,257,586.94 84,257,586.94
Other account payable 626,180,586.92 626,180,586.92
Including：Interest payable
37
The Third Quarterly Report 2020
Items December 31,2019 January 1,2020 Adjustment
Dividend payable 20,020,119.31 20,020,119.31
Other payable 606,160,467.61 606,160,467.61
Fees and commissions
payable
Reinsurance fee payable
Liabilities held for sales
Non-current liability due
795,861,958.07 795,861,958.07
within 1 year
Other current liability 189,628.17 189,628.17
Total of current liability 1,827,575,113.80 1,827,575,113.80
Non-current liabilities：
Reserve fund for insurance
contracts
Long-term loan 4,640,425,000.00 4,640,425,000.00
Bond payable 678,124,972.89 678,124,972.89
Including：preferred stock
Sustainable debt
Lease liability
Long-term payable 39,369,379.91 39,369,379.91
Including：Long-term
39,369,379.91 39,369,379.91
payable
Special payable
Long-term remuneration
payable to staff
Expected liabilities
Deferred income
Deferred income tax liability 238,453,976.29 238,453,976.29
Other non-current liabilities
Total non-current liabilities 5,596,373,329.09 5,596,373,329.09
Total of liability 7,423,948,442.89 7,423,948,442.89
Owners’ equity
Share capital 2,090,806,126.00 2,090,806,126.00
Other equity instruments
Including：preferred stock
38
The Third Quarterly Report 2020
Items December 31,2019 January 1,2020 Adjustment
Sustainable debt
Capital reserves 2,562,570,465.31 2,562,570,465.31
Less：Shares in stock
Other comprehensive income 382,193,344.90 382,193,344.90
Special reserve
Surplus reserves 910,425,068.90 910,425,068.90
Common risk provision
Retained profit 3,877,431,844.64 3,877,431,844.64
Total of owner’s equity
9,823,426,849.75 9,823,426,849.75
belong to the parent company
Minority shareholders’ equity 427,170,048.14 427,170,048.14
Total of owners’ equity 10,250,596,897.89 10,250,596,897.89
Total of liabilities and
17,674,545,340.78 17,674,545,340.78
owners’ equity
Adjustment statement
On July 5, 2017, the Ministry of Finance issued the Notice on Revising and Issuing Accounting Standards for
Enterprises No.14-Income (CK [2017] No.22) (hereinafter referred to as the "New Income Standards"). After the
fourth meeting of the ninth board of directors of the company approved the resolution on April 3, 2020, the
company will implement the aforesaid New Income Standards from January 1, 2020. According to the relevant
requirements of the above-mentioned New Income Standards, the company must make corresponding adjustments
to the relevant accounting policies previously adopted.
Under the New Income Standards, the Company shall first recognize the amount of merchandise sales
received in advance from customers as a contractual liability and convert it into income when relevant
performance obligations are fulfilled; The company has transferred goods to customers and has the right to receive
consideration, of which unconditional (only depending on the passage of time) shall be recognized as accounts
receivable, and those depending on other factors other than the passage of time shall be recognized as contract
assets.
The Company retroactively applied the New Income Standards, but chose not to restate the classification and
measurement (including impairment) involving the inconsistency between the data in the previous comparative
financial statements and the New Income Standards. Therefore, the Company adjusted the accounts receivable,
other receivables, contractual assets, pre-paid accounts and contractual liabilities at the beginning of 2020 for the
cumulative impact of the first implementation of the revised standards, and the financial statements for 2019 were
not restated.
Parent Company Balance Sheet
In RMB
Amount involved in the
Items December 31,2019 January 1,2020
adjustment
39
The Third Quarterly Report 2020
Amount involved in the
Items December 31,2019 January 1,2020
adjustment
Current asset：
Monetary fund 2,791,384,501.78 2,791,384,501.78
Transactional financial assets
Derivative financial assets
Notes receivable
Account receivable 21,864,051.27 21,864,051.27
Financing of receivables
Prepayments 1,737,598.88 1,737,598.88
Other account receivable 13,435,651.19 13,435,651.19
Including：Interest receivable
Dividend receivable 7,205,472.90 7,205,472.90
Other receivable 6,230,178.29 6,230,178.29
Inventories
Contract assets
Assets held for sales
Non-current asset due within
151,637,139.08 151,637,139.08
1 year
Other current asset
Total of current assets 2,980,058,942.20 2,980,058,942.20
Non-current assets：
Creditor's rights investment 537,903,684.98 537,903,684.98
Other Creditor's rights
investment
Long-term account
receivable
Long term share equity
4,789,404,907.17 4,789,404,907.17
investment
Other equity instruments
1,835,822,604.77 1,835,822,604.77
investment
Other non-current financial
assets
Property investment 3,079,362.12 3,079,362.12
Fixed assets 6,818,701,482.08 6,818,701,482.08
Including：Fixed assets 6,818,701,482.08 6,818,701,482.08
40
The Third Quarterly Report 2020
Amount involved in the
Items December 31,2019 January 1,2020
adjustment
Liquidation of fixed assets
Construction in progress 46,952,925.08 46,952,925.08
Including: Construction in
46,952,925.08 46,952,925.08
progress
Engineering material
Production physical assets
Oil & gas assets
Use right assets
Intangible assets 2,533,878.12 2,533,878.12
Development expenses
Goodwill
Long-germ expenses to be
amortized
Deferred income tax asset 385,296,935.33 385,296,935.33
Other non-current asset 36,901,029.57 36,901,029.57
Total of non-current assets 14,456,596,809.22 14,456,596,809.22
Total of assets 17,436,655,751.42 17,436,655,751.42
Current liabilities
Short-term loans
Transactional financial
liabilities
Derivative financial liabilities
Notes payable
Account payable 129,930,285.56 129,930,285.56
Advance receipts
Contract Liabilities
Employees’ wage payable 6,340,740.61 6,340,740.61
Tax payable 8,704,510.83 8,704,510.83
Other account payable 582,131,356.01 582,131,356.01
Including：Interest payable
Dividend payable 20,020,119.31 20,020,119.31
Other payable 562,111,236.70 562,111,236.70
Liabilities held for sales
Non-current liability due 744,589,133.72 744,589,133.72
41
The Third Quarterly Report 2020
Amount involved in the
Items December 31,2019 January 1,2020
adjustment
within 1 year
Other current liability 821,133,339.57 821,133,339.57
Total of current liability 2,292,829,366.30 2,292,829,366.30
Non-current liabilities：
Long-term loan 4,243,730,000.00 4,243,730,000.00
Bond payable 678,124,972.89 678,124,972.89
Including：preferred stock
Sustainable debt
Lease liability
Long-term payable 39,369,379.91 39,369,379.91
Including：Long-term
39,369,379.91 39,369,379.91
payable
Special payable
Long-term remuneration
payable to staff
Expected liabilities
Deferred income
Deferred income tax liability 129,978,356.56 129,978,356.56
Other non-current liabilities
Total non-current liabilities 5,091,202,709.36 5,091,202,709.36
Total of liability 7,384,032,075.66 7,384,032,075.66
Owners’ equity
Share capital 2,090,806,126.00 2,090,806,126.00
Other equity instruments
Including：preferred stock
Sustainable debt
Capital reserves 2,974,458,696.93 2,974,458,696.93
Less：Shares in stock
Other comprehensive income 382,193,344.90 382,193,344.90
Special reserve
Surplus reserves 894,580,785.25 894,580,785.25
Retained profit 3,710,584,722.68 3,710,584,722.68
Total of owners’ equity 10,052,623,675.76 10,052,623,675.76
42
The Third Quarterly Report 2020
Amount involved in the
Items December 31,2019 January 1,2020
adjustment
Total of liabilities and
17,436,655,751.42 17,436,655,751.42
owners’ equity
Adjustment statement
2. Note to the retroactive adjustment of the previous comparative data according to the new standards for
financial instruments and the new standards for lease implemented commencing from year 2020
□ Applicable √ Not applicable
III. Auditor’ report
Is the Third Quarterly Report be audited?
□ Yes √No
The Third Quarterly report is not audited.
43
