C&S Paper Co., Ltd. Third Quarter Report 2023
C&S Paper Co., Ltd.
Third Quarter Report 2023
The Company and all members of the Board of Directors hereby guarantee the truthfulnes s ,
accuracy and completeness of the information disclosed, and there are no false and misleading
statements or material omissions.
Important Notice:
1. The Board of Directors and the Board of Supervisors of the Company and its directors, supervisors
and senior management warrant that the information contained in this quarterly report is true, accurate
and complete without any false and misleading statements or material omissions, and severally and
jointly accept legal liability thereof.
2. The person in charge of the Company, the person in charge of accounting of the Company, and the
person in charge of the accounting department of the Company have declared that they warrant the
truthfulness, accuracy and completeness of the financial statements set out in this quarterly report.
3. Whether the Third Quarter Report has been audited
□ Yes √ No
I. Main Financial Data
(I) Main accounting data and financial indicators
Whether the Company needs to perform retrospective adjustment or restatement of accounting data for previous years
□ Yes √ No
2
C&S Paper Co., Ltd. Third Quarter Report 2023
Beginning of the year
Changes over same period Changes over same
Current period to end of current
of previous year period of previous year
period
Operating income
2,138,179,553.65 22.44% 6,823,260,119.24 11.60%
(RM B)
Net profit attributable to
shareholders of the listed 80,937,884.63 72.69% 165,428,059.09 -39.74%
company (RM B)
Net profit attributable to
shareholders of the listed
company after deducting 68,640,359.17 128.32% 142,334,246.75 -43.21%
non-recurring profit and
loss (RM B)
Net cash flow from
operating activities — — 791,698,638.61 68.56%
(RM B)
Basic earnings per share
0.06 50.00% 0.13 -38.10%
(RM B/share)
Diluted earnings per
0.06 50.00% 0.13 -38.10%
share (RM B/share)
Weighted average return
1.55% 0.60% 3.10% -2.33%
on net assets
End of current period End of previous year Changes over end of previous year
Total assets (RM B) 8,941,770,801.80 8,335,107,691.71 7.28%
Owner's equity
attributable to
shareholders of the listed 5,329,114,258.61 5,178,060,378.48 2.92%
company (RM B)
(II) Non-recurring items and amounts
√ Applicable □ Not applicable
Unit: RM B
Amount from beginning
Amount of current
Item of the year to end of Description
period
current period
Profits/losses from the disposal of non-current asset
(including the write-off that accrued for impairment 210,103.75 -2,750,673.27
of assets)
Governmental grants reckoned into current
profits/losses (not including grants enjoyed in quota
9,523,052.33 21,397,372.54
or ration according to national standards, which are
closely relevant to the company’s normal business)
Profits/losses from assets entrusted to others for
investment or management 6,043,395.76 7,033,551.12
Except for effectively hedging business related to
normal business operations of the Company, gain or
loss arising from the change in the fair value of
financial assets held for trading, derivative financial
assets, financial liabilities held for trading, derivative 968,000.00
financial liabilities, and other non-current financial
assets, as well as investment income or loss produced
from the disposal of the aforesaid financial assets and
liabilities
Other non-operating income and expenses except for
196,410.89 2,877,057.78
the aforementioned items
Less: Influence of income tax 3,675,437.27 6,431,495.83
3
C&S Paper Co., Ltd. Third Quarter Report 2023
Total 12,297,525.46 23,093,812.34 --
Details of other profit and loss items that meet the definition of non-recurring profit and loss:
□ Applicable √ Not applicable
The Company has no other profit and loss items that meet the definition of non-recurring profit and loss.
Descriptions where the Company defines any non-recurring profit and loss items listed in the No. 1 Explanatory Announcement on
Information Disclosure of Companies Offering Securities to the Public—Non-recurring Profit and Loss as recurring profit and loss
items during the reporting period
□ Applicable √ Not applicable
The Company did not define any non-recurring profit and loss items listed in the No. 1 Explanatory Announcement on Information
Disclosure of Companies Offering Securities to the Public—Non-recurring Profit and Loss as recurring profit and loss items during the
reporting period.
(III) Changes of main accounting data and financial indicators and reasons
√ Applicable □ Not applicable
(I)Balance sheet items
Notes receivable: This item recorded an increase of RMB29,381,886.96 or 258.39% in the reporting period
compared with the end of 2022, mainly owing to the increase in bank acceptance bills received from customers
during the reporting period.
Other current assets: This item recorded an increase of RMB708,210,695.68 or 211.43% in the reporting period
compared with the end of 2022, mainly owing to the increase in the principals of wealth management products
during the reporting period.
Construction work in progress: This item recorded an increase of RMB44,806,897.59 or 31.42% in the reporting
period compared with the end of 2022, mainly owing to an increase in engineering equipment payments during the
reporting period.
Right-of-use assets: This item recorded an increase of RMB8,636,076.70 or 88.50% in the reporting period
compared with the end of 2022, mainly owing to an increase in rented houses and buildings during the reporting
period.
Goodwill: This item recorded an increase of RMB633,136.34 or 979.27% in the reporting period compared with
the end of 2022, mainly owing to the acquisition of subsidiaries not under the common control during the reporting
period.
Deferred income tax assets: This item recorded an increase of RMB62,113,717.21 or 30.09% in the reporting period
compared with the end of 2022, mainly owing to an increase in deductible losses during the reporting period.
Other non-current assets: This item recorded an increase of RMB69,399,816.59 or 1,188.55% in the reporting period
compared with the end of 2022, mainly owing to an increase in prepayments for engineering equipment during the
reporting period.
Short-term borrowing: This item recorded an increase of RMB412,498,052.40 or 67.87% in the reporting period
compared with the end of 2022, mainly owing to the increase in short-term loans from banks during the reporting
period.
Contract liabilities: This item recorded a decrease of RMB34,881,562.42 or 36.12% in the reporting period
compared with the end of 2022, mainly owing to the decrease in advance received from customers during the
4
C&S Paper Co., Ltd. Third Quarter Report 2023
reporting period.
Tax and fees payable: This item recorded an increase of RMB67,967,449.60 or 127.14% in the reporting period
compared with the end of 2022, mainly owing to the increase in value added tax and income tax during the reporting
period.
Non-current liabilities due within one year: This item recorded an increase of RMB3,220,866.97 or 32.75%
compared with the end of 2022, mainly due to an increase in lease liabilities due within one year during this reporting
period.
Non-current liabilities: This item recorded a decrease of RMB4,513,710.10 or 36.28% in the reporting period
compared with the end of 2022, mainly owing to the decrease in taxes to be charged off during the reporting period.
Lease liabilities: This item recorded an increase of RMB6,590,361.30 or 819.82% in the reporting period compared
with the end of 2022, mainly owing to the increase in rented houses and buildings during the reporting period.
Deferred income tax liabilities : This item recorded a decrease of RMB20,463,608.67 or 43.42% in the reporting
period compared with the end of 2022, mainly due to the decrease in temporary differences formed by fixed assets
during this reporting period.
(II) Income statement items
Financial expenses: This item recorded a decrease of RMB21,961,799.01 or 506.92% from the beginning of the
year to the end of the reporting period compared with the same period in 2022, mainly owing to the decrease in
exchange gains and losses during the reporting period.
Return on investment: This item recorded an increase of RMB7,818,100.18 or 4,261.68% from the beginning of the
year to the end of the reporting period compared with the same period in 2022, mainly owing to the increase in
returns on wealth management products during the reporting period.
Credit impairment loss: This item recorded an increase of RMB7,715,203.14 or 95.10% from the beginning of the
year to the end of the reporting period compared with the same period in 2022, mainly owing to the increase in
accrued credit impairment losses of accounts receivable during the reporting period.
Asset impairment loss: This item recorded a decrease of RMB1,331,986.85 or 37.23% from the beginning of the
year to the end of the reporting period compared with the same period in 2022, mainly due to the decrease in the
provision for inventory depreciation during this reporting period.
Return on disposal of assets: This item recorded a decrease of RMB273,565.98 or 46.90% from the beginning of
the year to the end of the reporting period compared with the same period in 2022, mainly owing to the decrease in
income from the disposal of fixed assets during the reporting period.
Non-operating income: This item recorded a decrease of RMB9,377,057.10 or 65.41% from the beginning of the
year to the end of the reporting period compared with the same period in 2022, mainly owing to the decrease in non-
operating income during the reporting period.
Income tax expenses: This item recorded a decrease of RMB30,610,646.06 or 77.76% from the beginning of the
year to the end of the reporting period compared with the same period in 2022, mainly owing to the decrease in total
profit during the reporting period.
(III) Cash flow statement items
5
C&S Paper Co., Ltd. Third Quarter Report 2023
Net cash flows from operating activities: This item recorded an increase of RMB322,015,907.16 or 68.56% from
the beginning of the year to the end of the reporting period compared with the same period in 2022, mainly owing
to the increase in sale revenue during the reporting period.
Net cash flows from investing activities: This item recorded a decrease of RMB580,453,571.3 or 144.68% from the
beginning of the year to the end of the reporting period compared with the same period in 2022, mainly owing to
the increase in principal paid for purchasing wealth managements during the reporting period.
Net cash flows from financing activities: This item recorded an increase of RMB419,955,905.31 or 2,043.34% from
the beginning of the year to the end of the reporting period compared with the same period in 2022, mainly owing
to the increase in cash received from borrowings during the reporting period.
II. Shareholder Information
(I) Total number of ordinary shareholders, number of preferred shareholders whose voting rights were
resumed and shareholdings of top 10 shareholders
Unit: share
Total number of preferred
Total number of ordinary
shareholders whose voting
shareholders as at the end of the 111,616 0
rights were resumed at the end
reporting period
of the reporting period (if any)
Shareholdings of top 10 shareholders
Number of Pledged, marked or frozen
Name of Nature of Shareholding shares subject
Number of shares
shareholder shareholder percentage (%) to selling Share status Number of shares
restrictions
Guangdong Domestic non-
Zhongshun Paper state-owned legal 28.26% 377,195,570
Group Co., Ltd. person
Foreign legal
Chung Shun Co. 19.97% 266,504,789
person
Hong Kong
Foreign legal
Securities 2.90% 38,651,364
person
Clearing Co., Ltd.
Ernest Partners
Foreign legal
LLC -- Client 0.90% 11,991,400
person
funds
Domestic natural
Yue Yong 0.81% 10,765,241 8,348,930
person
Domestic natural
Deng Yingzhong 0.51% 6,752,811 5,064,608
person
Guohua Life —
Xingyi
Others 0.47% 6,224,600
Traditional
No.2
# Zhongshan
Domestic non-
Xinda Investment
state-owned legal 0.46% 6,123,636
M anagement Co., person
Ltd.
ABC — CSI
Smallcap 500 Others 0.45% 5,960,789
ETF
6
C&S Paper Co., Ltd. Third Quarter Report 2023
ICBC Ansheng
Life Insurance -
Others 0.40% 5,300,000
Long term
dividend products
Shareholdings of top 10 shareholders not subject to selling restrictions
Type of shares
Name of shareholder Number of shares not subject to selling restrictions
Type of shares Number of shares
Guangdong Zhongshun Paper Group RM B-denominated
377,195,570 377,195,570
Co., Ltd. ordinary shares
RM B-denominated
Chung Shun Co. 266,504,789 ordinary shares 266,504,789
Hong Kong Securities Clearing Co., RM B-denominated
38,651,364 ordinary shares 38,651,364
Ltd.
RM B-denominated
Ernest Partners LLC — Client funds 11,991,400 ordinary shares 11,991,400
Guohua Life —
RM B-denominated
Xingyi Traditional 6,224,600 ordinary shares 6,224,600
No.2
# Zhongshan Xinda Investment RM B-denominated
6,123,636 ordinary shares 6,123,636
M anagement Co., Ltd.
RM B-denominated
ABC — CSI Smallcap 500 ETF 5,960,789 ordinary shares 5,960,789
ICBC Ansheng Life Insurance - RM B-denominated
5,300,000 ordinary shares 5,300,000
Long term dividend products
ICBC — CSI M ain Consumer RM B-denominated
4,888,838 ordinary shares 4,888,838
Staples ETF
RM B-denominated
# Chen Ruiqiang 3,667,600 ordinary shares 3,667,600
1. Among the top 10 shareholders mentioned above, M r. Deng Yingzhong is among the actual
controllers of the Company and a director of the Company. Guangdong Zhongshun Paper
Description on the related Group Co., Ltd. and Chung Shun Co. are the enterprises controlled by actual controllers of the
relationship or parties acting-in- Company, i.e. Deng Yingzhong, Deng Guanbiao and Deng Guanjie. That is, Guangdong
concert arrangements among the Zhongshun Paper Group Co., Ltd. and Chung Shun Co. are related p arties. M r. Yue Yong is an
above shareholders incumbent senior manager of the Company.
2. It is unknown to the Company whether there is related party relationship among other
shareholders, or whether there is acting-in-concert among other shareholders.
1.The Company’s shareholder Zhongshan Xinda Investment M anagement Co., Ltd. holds
6,120,602 shares through a client credit transaction guarantee securities account.
Description on the top 10 2.The Company’s shareholder Chen Ruiqiang holds 843,500 shares through a client credit
shareholders’ participation in margin transaction guarantee securities account.
trading and securities lending (if Note: There is a special repurchase account “C&S Paper Special Repurchase Securities
any) Account” among the top 10 shareholders. As of the end of the reporting period, this repurchase
account held 24,863,087 shares, with a shareholding ratio of 1.86%. Pursuant to relevant
regulations, it is not included in the list of top 10 shareholders.
(II) Total number of preferred shareholders and share holdings of top 10 preferred shareholders
□ Applicable √ Not applicable
III. Other Significant Matters
□ Applicable √ Not applicable
7
C&S Paper Co., Ltd. Third Quarter Report 2023
IV. Quarterly Financial Statements
(I) Financial statements
1. Consolidated balance sheet
Prepared by: C&S Paper Co., Ltd.
September 30, 2023
Unit: RM B
Item September 30, 2023 January 1, 2023
Current assets:
M onetary funds 1,617,860,899.96 1,324,787,541.49
Settlement reserve
Lending to banks and other
financial institutions
Tradable financial assets
Derivative financial assets
Notes receivable 40,752,979.76 11,371,092.80
Accounts receivable 978,920,016.97 1,084,130,138.51
Accounts receivable financing
Prepayments 19,028,328.22 15,291,351.73
Premium receivable
Reinsurance payables
Reinsurance contract reserves
receivable
Other receivables 17,448,488.28 16,915,272.60
Including: Interest receivable
Dividends receivable
Financial assets held under resale
agreements
Inventory 1,615,584,287.81 1,911,630,723.55
Contract assets
Assets held for sale
Non-current assets due within one
year
Other current assets 1,043,170,049.59 334,959,353.91
Total current assets 5,332,765,050.59 4,699,085,474.59
Non-current assets:
Loans and advances to customers
Investments in creditor’s rights
Investments in other creditor’s
rights
Long-term receivable
Long-term equity investment
Investment in other equity
instruments
Other non-current financial assets
8
C&S Paper Co., Ltd. Third Quarter Report 2023
Investment property 30,623,934.39 31,701,597.54
Fixed assets 2,800,638,460.94 3,013,559,312.97
Construction work in progress 187,434,021.01 142,627,123.42
Productive biological assets
Oil & gas assets
Right-of-use assets 18,394,360.12 9,758,283.42
Intangible assets 214,763,246.60 214,243,938.48
Development expenses
Goodwill 697,790.49 64,654.15
Long-term deferred expenses 12,644,712.46 11,771,615.74
Deferred income tax assets 268,570,374.27 206,456,657.06
Other non-current assets 75,238,850.93 5,839,034.34
Total non-current assets 3,609,005,751.21 3,636,022,217.12
Total assets 8,941,770,801.80 8,335,107,691.71
Current liabilities:
Short-term borrowings 1,020,297,275.02 607,799,222.62
Borrowings from PBC
Placements from banks and other
financial institutions
Tradable financial liabilities
Derivative financial liabilities
Notes payable 335,139,853.87 340,335,111.30
Accounts payable 919,856,418.87 948,550,430.61
Payments received in advance
Contract liabilities 61,700,382.52 96,581,944.94
Proceeds from financial assets sold
under repo
Customer bank deposits and due to
banks and other financial institutions
Funds from securities trading
agency
Funds from securities underwriting
agency
Employee remuneration payable 157,598,615.46 131,641,447.65
Tax and fees payable 121,425,415.95 53,457,966.35
Other payables 844,080,713.21 807,423,814.13
Including: Interests payable
Dividends payable 1,299,613.00
Transaction fee and commission
receivable
Reinsurance payable
Liabilities held for sale
Non-current liabilities due within
13,054,528.27 9,833,661.30
one year
Other current liabilities 7,926,437.45 12,440,147.55
9
C&S Paper Co., Ltd. Third Quarter Report 2023
Total current liabilities 3,481,079,640.62 3,008,063,746.45
Non-current liabilities:
Insurance contract reserves
Long-term borrowings
Bonds payable
Including: Preference shares
Perpetual bonds
Lease liabilities 7,394,240.60 803,879.30
Long-term payable
Long-term employee remuneration
payable
Provision
Deferred income 88,723,214.21 98,419,983.82
Deferred income tax liabilities 26,667,760.03 47,131,368.70
Other non-current liabilities
Total non-current liabilities 122,785,214.84 146,355,231.82
Total liabilities 3,603,864,855.46 3,154,418,978.27
Owner's equity:
Share capital 1,334,550,300.00 1,314,739,745.00
Other equity instruments
Including: Preference shares
Perpetual bonds
Capital reserve 1,109,999,829.48 958,187,997.99
Less: Treasury shares 793,726,652.23 688,930,693.99
Other comprehensive income
Special reserves
Surplus reserves 145,882,689.86 145,882,689.86
General reserves
Retained earnings 3,532,408,091.50 3,448,180,639.62
Total equity attributable to owners of
the parent company 5,329,114,258.61 5,178,060,378.48
Equities of minority shareholders 8,791,687.73 2,628,334.96
Total owner's equity 5,337,905,946.34 5,180,688,713.44
Total liabilities and owners' equities 8,941,770,801.80 8,335,107,691.71
Legal representative: Liu Peng Person in charge of accounting: Dong Ye Person in charge of accounting department: Xu Xianjing
2. Consolidated income statement from beginning of the year to end of reporting period
Unit: RM B
Item Incurred in the current period Incurred in the prior period
I. Total Operating Income 6,823,260,119.24 6,113,945,181.48
Including: Operating income 6,823,260,119.24 6,113,945,181.48
Interest income
10
C&S Paper Co., Ltd. Third Quarter Report 2023
Gross earned premiums
Service charge and
commission income
II. Total Operating Cost 6,677,448,308.64 5,834,173,859.41
Including: Operating costs 4,763,315,408.28 4,126,031,197.39
Interest expenses
Service charge and
commission expenses
Surrender value
Net compensation expenses
Net appropriation of
insurance reserve
Policy dividends expenses
Reinsurance costs
Tax and surcharges 44,611,470.24 40,062,830.04
Selling expenses 1,384,327,391.91 1,230,116,807.88
Administrative expenses 318,066,421.22 284,607,914.39
R&D expenses 184,757,002.29 149,022,696.00
Finance expenses -17,629,385.30 4,332,413.71
Including: Interest fees 19,013,291.75 1,920,599.68
Interest income 27,680,922.66 8,463,204.46
Plus: Other income 22,264,988.94 21,484,059.53
Return on investment ("-"
8,001,551.12 183,450.94
indicates loss)
Including: Return on
investment in associates and joint
ventures
Income from the
derecognition of financial assets
measured at amortized cost
Exchange gains ("-" indicates
loss)
Gains from net exposure
hedging ("-" indicates loss)
Gains from changes in fair
-67,357.16
value ("-" indicates loss)
Credit impairment losses ("-"
397,123.63 8,112,326.77
indicates loss)
Asset impairment losses ("-"
-2,245,967.54 -3,577,954.39
indicates loss)
Return on disposal of assets ("-
" indicates loss) -856,881.82 -583,315.84
III. Operating Profit ("-" indicates loss) 173,372,624.93 305,322,531.92
Plus: Non-operating income 4,957,824.32 14,334,881.42
Less: Non-operating expenditure 4,842,174.39 6,334,055.03
IV Total Profit ("-" indicates total loss) 173,488,274.86 313,323,358.31
Less: Income tax expense 8,756,863.00 39,367,509.06
V Net Profit ("-" indicates net loss) 164,731,411.86 273,955,849.25
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C&S Paper Co., Ltd. Third Quarter Report 2023
i. Classified by operation continuity
1. Net profit from continued
164,731,411.86 273,955,849.25
operation ("-" indicates net loss)
2. Net profit from discontinued
operation ("-" indicates net loss)
ii. Classified by attribution of
ownership
1. Net profit attributable to owners
165,428,059.09 274,509,320.42
of the parent company
2. M inority shareholders' profits and
losses -696,647.23 -553,471.17
VI. Net Amount of Other Comprehensive
Income after Tax
Total other comprehensive after-tax net
income attributable to owners of the
parent company
i. Other comprehensive income not
able to be reclassified into the profit or
loss
1. Changes of re-
measurement of the defined benefit plan
2. Other comprehensive
income that cannot be transferred into the
profit or loss under equity method
3. Changes in fair value of
investment in other equity instruments
4. Changes in fair value of
credit risk of the enterprise
5. Others
ii. Other comprehensive income
reclassified into the profit or loss
1. Other comprehensive
income to be transferred into the profit or
loss under equity method
2. Changes in fair value of
investment in other creditor's rights
3. Financial assets
reclassified into other comprehensive
income
4. Impairment provision for
credit of investment in other creditor's
rights
5. Reserve of cash flow
hedge
6. Converted difference in
foreign currency financial statements
7. Others
Total other comprehensive after-tax net
income attributable to minority
shareholders
VII. Total Comprehensive Income 164,731,411.86 273,955,849.25
Total comprehensive income
attributable to owners of the parent 165,428,059.09 274,509,320.42
company
Total comprehensive income -696,647.23 -553,471.17
12
C&S Paper Co., Ltd. Third Quarter Report 2023
attributable to minority shareholders
VIII. Earnings per Share:
i. Basic earnings per share 0.13 0.21
ii. Diluted earnings per share 0.13 0.21
For business combinations of the current period under common control, the net profit realized by the combined party before the
combination is: RM B0.00; the net profit realized by the combined party in last period is: RM B0.00.
Legal representative: Liu Peng Person in charge of accounting: Dong Ye Person in charge of accounting department: Xu Xianjing
3. Consolidated cash flow statement from beginning of the year to end of reporting period
Unit: RM B
Item Incurred in the current period Incurred in the prior period
I. Cash Flows from Operating
Activities:
Cash received from sale of goods
6,799,687,563.17 6,395,491,203.09
or rendering of services
Net increase in deposits from
customers, banks and non-bank
financial institutions
Net increase in due to central
banks
Net increase in placements from
other financial institutions
Cash received from the premium
of direct insurance contracts
Net cash from reinsurance business
Net increase in deposits and
investment of the insured
Cash obtained from interest, net
fee and commission
Net increase in placements from
banks and other financial institutions
Net increase in repo service fund
Net cash from agent securities
trading
Tax rebates 34,111,023.87 10,557,160.49
Cash received related to other
98,764,465.00 110,658,657.33
operating activities
Sub-total of cash inflow from operating
6,932,563,052.04 6,516,707,020.91
activities
Cash paid for goods purchased and
services rendered 4,389,183,147.61 4,213,402,596.24
Net loans and advances to
customers
Net increase in deposits with the
central bank, banks and non-bank
financial institutions
Cash paid for claims of direct
insurance contracts
Net increase in placements with
banks and non-bank financial
institutions
13
C&S Paper Co., Ltd. Third Quarter Report 2023
Cash paid for interest, fee and
commission
Cash paid for dividends of the
insured
Cash paid to and on behalf of
employees 681,952,121.79 706,102,343.54
Tax payments 344,543,318.75 394,951,958.29
Cash payments related to other
725,185,825.28 732,567,391.39
operating activities
Sub-total of cash outflow from
6,140,864,413.43 6,047,024,289.46
operating activities
Net cash flows from operating activities 791,698,638.61 469,682,731.45
II. Cash Flows from Investing
Activities:
Cash from realization of
investment
Cash received from the return on
investments 8,001,551.12 188,274.88
Net cash received from the
disposal of fixed assets, intangible 2,067,471.00 10,460,566.39
assets, and other long-term assets
Net amount of cash received from
the disposal of subsidiaries and other
operating organizations
Cash received related to other
93,001,000.00 72,488,469.52
investing activities
Sub-total of cash inflow from investing
activities 103,070,022.12 83,137,310.79
Cash paid for the acquisition and
construction of fixed assets, intangible 226,107,966.04 274,331,683.32
assets, and other long-term assets
Cash paid for investments
Net increase in pledged loans
Net amount of cash paid for
acquisition of subsidiaries and other 5,810,000.00
operating organizations
Cash payments related to other
852,800,000.00 210,000,000.00
investing activities
Sub-total of cash outflow from
investing activities 1,084,717,966.04 484,331,683.32
Net cash flows from investing activities -981,647,943.92 -401,194,372.53
III. Cash Flows from Financing
Activities:
Cash received from capital
contribution 142,633,794.42 21,204,239.86
Including: Proceeds received by
subsidiaries from minority shareholders'
investment
Cash received from borrowings 1,411,682,621.27 280,500,000.00
Cash received related to other
financing activities
Sub-total of cash inflow from financing
1,554,316,415.69 301,704,239.86
activities
Cash paid for repayments of 991,767,720.66 79,000,000.00
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C&S Paper Co., Ltd. Third Quarter Report 2023
borrowings
Cash payment for interest expenses
and distribution of dividends or profits 98,516,399.35 131,024,843.70
Including: Dividend and profit
paid by subsidiaries to minority
shareholders
Cash payments related to other
financing activities 23,523,983.72 71,126,989.51
Sub-total of cash outflow from
1,113,808,103.73 281,151,833.21
financing activities
Net cash flows from financing activities 440,508,311.96 20,552,406.65
IV Effect of Exchange Rate Changes on
Cash and Cash Equivalents 28,535,341.67 31,203,478.81
V Net Increase in Cash and Cash
279,094,348.32 120,244,244.38
Equivalents
Plus: Opening balance of cash and
1,248,898,024.59 797,797,675.70
cash equivalents
VI. Closing Balance of Cash and Cash
Equivalents 1,527,992,372.91 918,041,920.08
(II) Implementation of new accounting standards adjustment for the first time starting from 2023, and
implementation of financial statement related items at the beginning of the year for the first time
□ Applicable √ Not applicable
(III) Report auditing
Whether the Third Quarter Report has been audited
□ Yes √ No
The Third Quarter Report of the Company has not been audited.
Board of Directors of C&S Paper Co., Ltd.
October 25, 2023
If there are any ambiguities, the Chinese version shall prevail.
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