CSG HOLDING CO., LTD.
THE FIRST QUARTER REPORT 2021
Chairman of the Board:
CHEN LIN
April 2021
CSG HOLDING CO., LTD. The First Quarter Report 2021
Section I Important Notice
Board of Directors and the Supervisory Committee of CSG Holding Co., Ltd. (hereinafter referred
to as the Company) and its directors, supervisors and senior executives hereby confirm that there
are no any fictitious statements, misleading statements, or important omissions carried in this report,
and shall take individual and joint legal responsibilities for the facticity, accuracy and completeness
of the whole contents.
All directors were present at the meeting of the Board for deliberating the First Quarter Report of
the Company in person.
Ms. Chen Lin, Chairman of the Board, Mr. Wang Jian, responsible person in charge of the
accounting and Ms. Wang Wenxin, principal of the financial department (accounting officer) declare
that the Financial Report enclosed in the First Quarter Report 2021 is true, accurate and complete.
This report is prepared both in Chinese and English. Should there be any inconsistency between the
Chinese and English versions, the Chinese version shall prevail.
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CSG HOLDING CO., LTD. The First Quarter Report 2021
Section II The basic situation of the Company
I. Main accounting data and financial indicators
Whether the company need to retroactively adjust or restate the previous year's accounting data or not
□Yes √ No
The 1st quarter of 2021 The 1st quarter of 2020 Percentage of change (%)
Operating income (RMB) 3,006,832,539 1,733,965,637 73.41%
Net profit attributable to shareholders of
573,268,793 111,278,288 415.17%
the listed company(RMB)
Net profit attributable to shareholders of
the listed company after deducting 572,808,470 101,805,077 462.65%
non-recurring gains and losses(RMB)
Net cash flow arising from operating
341,291,798 -11,126,768 -
activities(RMB)
Basic earnings per share (RMB/Share) 0.19 0.04 375.00%
Diluted earnings per share (RMB/Share) 0.19 0.04 375.00%
Weighted average ROE (%) 5.46% 1.16% 4.30%
31 March 2021 31 December 2020 Percentage of change (%)
Total assets (RMB) 18,291,918,167 17,882,914,898 2.29%
Net assets attributable to shareholder of
10,786,937,835 10,212,989,847 5.62%
listed company(RMB)
The total share capital of the company as of the previous trading day of disclosure ( share ) 3,070,692,107
Fully diluted earnings per share calculated with latest equity ( RMB/share ) 0.19
Items and amounts of extraordinary profit (gains)/losses
√Applicable □ Not applicable
Unit: RMB
Amount from beginning of the year
Item Note
to the end of the report period
Gains/losses from the disposal of non-current asset (including the
-298,458
write-off that 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, 14,347,461
which are closely relevant to enterprise’s business)
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CSG HOLDING CO., LTD. The First Quarter Report 2021
In addition to the normal business of the company effective hedging
related business, tradable financial assets, derivative financial assets,
tradable financial liabilities, changes in the fair value of the derivative
financial liabilities to generate profits and losses, as well as the disposal 1,373,392
of tradable financial assets, derivative financial assets, tradable
financial liabilities, derivative financial liabilities and other creditor's
rights investment returns.
Other non-operating income and expenditure except for the
-12,339,031
aforementioned items
Less: Impact on income tax 2,103,005
Impact on minority shareholders’ equity (post-tax) 520,036
Total 460,323 --
For the non-recurring profit and loss items defined by the company in accordance with Q&A Announcement No.1 on Information
Disclosure for Companies Offering Their Securities to the Public --- Extraordinary Profit/loss, and the non-recurring profit and loss
items listed in Q&A Announcement No.1 on Information Disclosure for Companies Offering Their Securities to the Public ---
Extraordinary Profit/loss. are defined as recurring profit and loss items, the reasons shall be explained.
□ Applicable √ Not applicable
During the report period, the Company didn’t have the case of extraordinary profit (gains)/loss defined as a regular profit and loss
project, which was defined and enumerated according to the lists of extraordinary profit (gain)/loss in Q&A Announcement No.1 on
Information Disclosure for Companies Offering Their Securities to the Public --- Extraordinary Profit/loss.
II. Total of shareholders at the end of the report period and particulars about the shares held
by the top ten shareholders
1. The total number of common shareholders and the number of preference shareholders with voting rights
recovered as well as the top ten shareholders
Unit: Share
The total number of common shareholders The total number of preference shareholders with voting
139,532 0
at the end of the report period rights recovered at end of report period (if applicable)
Particulars about the shares held by the top ten shareholders
Number of share
Proportion Amount of
Amount of pledged/frozen
Name of shareholder Nature of shareholder of shares restricted
shares held Share
held (%) shares held Amount
status
Foresea Life Insurance Co., Ltd. – Domestic non state-owned
15.19% 466,386,874
HailiNiannian legal person
Foresea Life Insurance Co., Ltd. – Domestic non state-owned
3.86% 118,425,007
Universal Insurance Products legal person
Zhongshan Runtian Investment Co., Ltd. Domestic non state-owned 2.82% 86,633,447 pledged 86,630,000
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CSG HOLDING CO., LTD. The First Quarter Report 2021
legal person
Hong Kong Securities Clearing Co., Ltd. Foreign legal person 2.45% 75,307,652
Foresea Life Insurance Co., Ltd. – Own Domestic non state-owned
2.11% 64,765,161
Fund legal person
Central Huijin Asset Management Ltd. State-owned legal person 1.89% 57,915,488
China Galaxy International Securities
Foreign legal person 1.35% 41,349,778
(Hong Kong) Co., Limited
China Merchants Securities (HK) Co.,
State-owned legal person 1.08% 33,238,643
Limited
Shenzhen International Holdings (SZ)
State-owned legal person 0.95% 29,095,000
Limited
VANGUARD EMERGING MARKETS
Foreign legal person 0.68% 20,972,497
STOCK INDEX FUND
Particulars about the top ten shareholders with un-restrict shares held
Amount of unrestricted Type of shares
Shareholders’ name shares held at the end of
Type Amount
the period
Foresea Life Insurance Co., Ltd. – HailiNiannian 466,386,874 RMB ordinary shares 466,386,874
Foresea Life Insurance Co., Ltd. – Universal Insurance Products 118,425,007 RMB ordinary shares 118,425,007
Zhongshan Runtian Investment Co., Ltd. 86,633,447 RMB ordinary shares 86,633,447
Hong Kong Securities Clearing Co., Ltd. 75,307,652 RMB ordinary shares 75,307,652
Foresea Life Insurance Co., Ltd. – Own Fund 64,765,161 RMB ordinary shares 64,765,161
Central Huijin Asset Management Ltd. 57,915,488 RMB ordinary shares 57,915,488
Domestically listed
China Galaxy International Securities (Hong Kong) Co., Limited 41,349,778 41,349,778
foreign shares
Domestically listed
China Merchants Securities (HK) Co., Limited 33,238,643 33,238,643
foreign shares
Shenzhen International Holdings (SZ) Limited 29,095,000 RMB ordinary shares 29,095,000
Domestically listed
VANGUARD EMERGING MARKETS STOCK INDEX FUND 20,972,497 20,972,497
foreign shares
Among shareholders as listed above, Foresea Life Insurance Co., Ltd.-HailiNiannian, Foresea
Life Insurance Co., Ltd.-Universal Insurance Products, Foresea Life Insurance Co., Ltd.-Own
Fund are all held by Foresea Life Insurance Co., Ltd. Zhongshan Runtian Investment Co., Ltd.
Statement on associated relationship
is a related legal person of Foresea Life Insurance Co., Ltd. and Chengtai Group Co., Ltd.,
or consistent action among the
another related legal person of Foresea Life Insurance Co., Ltd, which held 40,187,904 shares
above shareholders:
via China Galaxy International Securities (Hong Kong) Co., Limited.
Except for the above-mentioned shareholders, it is unknown whether other shareholders
belong to related party or have associated relationship regulated by the Management
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CSG HOLDING CO., LTD. The First Quarter Report 2021
Regulation of Information Disclosure on Change of Shareholding for Listed Companies.
Explanation on the top ten
shareholders with un-restrict shares
N/A
held which involving margin
business (if applicable)
Whether the top ten common shareholders or the top ten common shareholders holding unrestricted shares had a buy-back agreement
dealing in the report period or not.
□ Yes √ No
The top ten common shareholders or the top ten common shareholders holding unrestricted shares of the Company had no buy-back
agreement dealing in the report period.
2. The total number of preferred shareholders of the company and particulars about the top ten preferred
shareholders
□ Applicable √ Not applicable
5
CSG HOLDING CO., LTD. The First Quarter Report 2021
Section III Important events
I. Particulars and explanations about significant changes in main accounting statements and
financial indices
√Applicable □Not applicable
Unit: RMB 0,000
Amount of Percentage
Note 31 March 2021 31 December 2020
change of change
Tradable financial assets (1) 9,000 - 9,000 -
Notes receivable (2) 12,410 20,797 -8,387 -40%
Accounts receivable (3) 101,999 68,147 33,852 50%
Right-of-use asset (4) 953 - 953 -
Long-term prepaid expenses (5) 67 1,038 -971 -94%
Prepayments (6) 11,995 8,593 3,402 40%
Notes payable (7) 20,652 14,485 6,167 43%
Employee benefits payable (8) 21,490 34,235 -12,745 -37%
Amount of Percentage
Note Jan.-Mar.2021 Jan.-Mar.2020
change of change
Operating income (9) 300,683 173,397 127,286 73%
Operating costs (10) 188,497 122,313 66,184 54%
Taxes and surcharges (11) 3,397 2,181 1,216 56%
Credit impairment loss (12) 614 376 238 63%
Investment income (13) 137 - 137 -
Asset disposal income (14) -30 -49 19 -
Other income (15) 1,435 2,079 -644 -31%
Non-operating income (16) 298 59 239 405%
Income tax expense (17) 11,918 2,348 9,570 408%
Net profit attributable to shareholders of
(18) 57,327 11,128 46,199 415%
the parent company
Minority shareholders' profit and loss (19) 509 71 438 617%
Net amount of other comprehensive
(20) 89 149 -60 -40%
income after tax
Notes:
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CSG HOLDING CO., LTD. The First Quarter Report 2021
(1) The increase in tradable financial assets was due to the purchase of structured deposits.
(2) The decrease in notes receivable was mainly due to the decrease in notes of some subsidiaries.
(3) The increase in accounts receivable was mainly due to the increase in accounts receivable of architectural glass subsidiaries.
(4) The increase in right-of-use asset was mainly due to adjustment in accordance with the new lease standard.
(5) The decrease in long-term prepaid expenses was mainly due to the adjustment in accordance with the new lease standard.
(6) The increase in prepayments was mainly due to the increase in prepayments for materials.
(7) The increase in notes payable was mainly due to the increase in new notes issued in the current period and the small base of the
previous year.
(8) The decrease in employee benefits payable was mainly due to the year-end bonuses accrued in the previous year that were paid
during the report period.
(9) The increase in operating income was mainly due to the increase in the price of float glass and photovoltaic glass and the
transition of Line II of Qingyuan into commercial operation.
(10) The increase in operating costs was mainly due to the increase in operating income and the transportation costs included in the
cost as contract performance costs.
(11) The increase in taxes and surcharges was mainly due to the increase in operating income.
(12) The increase in credit impairment loss was mainly due to the increase in the provision for bad debts of accounts receivable.
(13) The increase in investment income was due to the increase in income from structured deposits.
(14) The change in asset disposal income was mainly due to the decrease in the disposal of non-current assets in the current period.
(15) The decrease in other income was mainly due to the decrease in government subsidies received in the current period.
(16) The increase in non-operating income was mainly due to the increase in unpaid payments and insurance claims.
(17) The increase in income tax expense was mainly due to the increase in total profits.
(18) The increase in net profit attributable to shareholders of the parent company was mainly due to the increase in the net profit of
some subsidiaries.
(19) The increase in minority shareholders' profit and loss was mainly due to the increase in the net profit of some subsidiaries with
minority shareholders.
(20) The decrease in net amount of other comprehensive income after tax was mainly due to changes in the translation differences in
foreign currency statements.
II. The progress and the impact of material events and analysis on the solutions
√Applicable □Not applicable
1. Ultra-short-term financing bills
On June 15, 2020, the Company’s Third Extraordinary General Shareholders’ Meeting of 2020 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 RMB 1.5 billion
and the bills could be issued by stages within period of validity of the registration according to the Company’s actual demands for
funds and the status of inter-bank funds. On September 4, 2020, National Association of Financial Market Institutional Investors
(NAFMII) held its 102nd registration meeting in 2020 and decided to accept the registration of ultra-short-term financing bills with a
total of RMB 1.5 billion and a validity period of two years.
2. Medium-term notes
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CSG HOLDING CO., LTD. The First Quarter Report 2021
On April 15, 2016, CSG’s Annual General Shareholders’ Meeting of 2015 of deliberated and approved the proposal of application for
registration and issuance of medium-term notes with total amount of RMB 0.8 billion, which could be issued by stages within period
of validity of the registration according to the Company’s actual demands for funds and the status of inter-bank funds. On March 2,
2018, National Association of Financial Market Institutional Investors (NAFMII) held the 14th registration meeting of 2018, in
which NAFMII decided to accept the registration of the Company’s medium-term notes, amounting to RMB 0.8 billion and valid for
two years. Shanghai Pudong Development Bank Co., Ltd. and China CITIC Bank Corporation Limited were joint lead underwriters
of these medium-term notes which could be issued by stages within period of validity of the registration. On May 4, 2018, the
Company issued the first batch of medium-term notes with a total amount of RMB 0.8 billion and a term of three years. The issue
rate was 7%, and the redemption date was May 4, 2021.
On June 15, 2020, CSG’s Third Extraordinary Shareholders’ General Meeting of 2020 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 RMB 1.5 billion and the notes could
be issued by stages within period of validity of the registration according to the Company’s actual demands for funds and the status
of inter-bank funds. On 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 RMB 1.5 billion and a validity period of two years.
For details, please refer to www.chinabond.com.cn and www.chinamoney.com.cn.
3. Public issuance of corporate bonds
On March 2, 2017, the Second Extraordinary Shareholders’ General Meeting of 2017 deliberated and approved “The Proposal on the
Public Issuance of Corporate Bonds for Qualified Investors". On February 27, 2019, the First Extraordinary Shareholders’ General
Meeting of 2019 deliberated and approved “The Proposal on Extending the Validity Period of the Shareholders' Meeting for the
Public Offering of Corporate Bonds to Qualified Investors”, which agreed that the Company should 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.
On March 12, 2020, the First Extraordinary Shareholders’ General Meeting of 2020 deliberated and approved “The Proposal on the
Public Issuance of Corporate Bonds for Qualified Investors", which agreed that the Company should issue corporate bonds with a
total issue of no more than RMB 1.8 billion and a term of no more than 10 years. On April 22, 2020, 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[2020] No. 784).
4. Non-public issuance of A shares
The interim meeting of the 8th board of directors of the Company held on March 5, 2020 deliberated and approved the related
proposals of non-public issuance of A shares, and agreed the Company to issue A shares privately. The proposals were deliberated
and approved by the Second Extraordinary Shareholders’ General Meeting of 2020 which held on April 16, 2020. In May 2020, the
Company received “The First Feedback Notice on the Examination of Administrative Licensing Projects of China Securities
Regulatory Commission” (No. 200819) issued by the China Securities Regulatory Commission, and published “Announcement on
Reply to the Feedback of Application Documents For Non-public Issuance of A Shares” and “Announcement on the Revised Reply
to the Feedback of Application Documents For Non-public Issuance of A Shares” on June 8, 2020 and June 29, 2020 respectively. On
June 5, 2020, the Company held an interim meeting of the 9th board of directors, deliberated and approved the relevant proposals on
adjusting the Company's non-public issuance of A shares. On July 6, 2020, the Issuance Audit Committee of China Securities
Regulatory Commission reviewed the Company's application for non-public issuance of A shares. According to the audit results, the
Company's application for non-public issuance of A shares was approved. On July 22, 2020, the Company received the “Reply on the
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CSG HOLDING CO., LTD. The First Quarter Report 2021
Approval of Non-public Issuance of Shares of CSG” (ZJXK [2020] No. 1491) issued by China Securities Regulatory Commission.
In view of the validity period of the resolution of the non-public issuance of A shares and the validity period of the relevant
authorization were about to expire, the Company held an interim meeting of the 9th board of directors and an interim meeting of the
9th board of supervisors on March 26, 2021, which deliberated and approved " The Proposal on Extending the Validity Period of
Resolutions of the General Meeting of Shareholders of Non-public Issuance of A Shares" and "The Proposal on Requesting the
General Meeting of Shareholders to Extend the Authorization of the Board of Directors to Fully Manage Matters Related to the
Non-public Issuance of A Shares". It was agreed that the Company should extend the validity period of the resolutions of the
shareholders’ meeting of this non-public issuance of A shares and the validity period of authorizing the board of directors to handle
matters related to the non-public issuance of A shares by 12 months from the date of expiration of the previous period of validity (that
is, to April 15, 2022). The above proposals were deliberated and approved by the Company's Second Extraordinary Shareholders’
General Meeting of 2021 held on April 13, 2021.
For details, please refer to the relevant contents published on Juchao information network (www.cninfo.com.cn) .
Progress of implementation of share repurchase
□Applicable √Not applicable
Progress of implementation of the reduction of the purchased shares by means of centralized price bidding
□Applicable √Not applicable
III. Failure in due fulfillment of commitments of the actual controllers, shareholders, affiliates,
and acquirers of listed company as well as the listed company during the report period
□Applicable √Not applicable
It did not exist that commitments of the actual controllers, shareholders, affiliates, and acquirers of listed company as well as the
listed company failed to be fulfilled on time during the report period.
IV. 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.
V. Progress of investment projects with raised funds
□ Applicable √ Not applicable
VI. Predict of the business performance from January to June 2021
Warnings and reasons of the predict that the cumulative net profit from the begin of the year to the end of next report period may be
loss or have great changes comparing with the same period of last year
□Applicable √Not applicable
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CSG HOLDING CO., LTD. The First Quarter Report 2021
VII. Major contracts for daily operation
√Applicable □ Not applicable
Amount of sales
Name of Progress of revenue Collection of
Name of the other party Total contract
company signing Subject matter contract recognized in the accounts
signing the contract amount
the contract performance current period receivable
and accumulated
LONGi Solar Technology
Ltd., Zhejiang LONGi
Solar Technology Ltd.,
Taizhou LONGi Solar
Technology Ltd., Yinchuan
LONGi Solar Technology
The recognized
Ltd., Chuzhou LONGi
income was RMB
Wujiang CSG Solar Technology Ltd.,
87.57 million in
Glass Co., Ltd., Datong LONGi Solar RMB 6,500
Photovoltaic this period, and RMB 165.51
Dongguan CSG Technology Ltd., LONGi million (tax In progress
glass the accumulated million
Solar Glass Co., (H.K.) Trading Limited, included)
recognized
Ltd. LONGi (KUCHING)
income was RMB
SDN. BHD., Xianyang
221.93 million.
LONGi Solar Technology
Ltd., Jiangsu LONGi Solar
Technology Ltd., Jiaxing
LONGi Solar Technology
Ltd.,Xi'an LONGi Green
Building Technology Ltd.
There is a significant difference between the progress of the major contract and the contract agreement, which affects more than 30%
of the contract amount
□ Applicable √ Not applicable
VIII. Entrusted financing
□ Applicable √ Not applicable
There was no entrusted financing during the report period
IX. Particulars about illegal external guarantee
□ Applicable √Not applicable
The Company had no illegal external guarantee during the report period.
X. Particulars about non-operating fund of listed company which is occupied by controlling
shareholder and its affiliated enterprises
□ Applicable √ Not applicable
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CSG HOLDING CO., LTD. The First Quarter Report 2021
There was no non-operating fund of listed company occupied by controlling shareholder and its affiliated enterprises during the
report period.
XI. Registration form for receiving research, communication and interview during the report
period
□ Applicable √ Not applicable
The Company did not receive any research, communication or interviews during the report period.
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CSG HOLDING CO., LTD. The First Quarter Report 2021
Section IV Financial Report
I. Financial Statements
1. Consolidated balance sheet
Prepared by CSG Holding Co., Ltd.
Unit: RMB
Item March 31, 2021 December 31, 2020
Current asset:
Monetary Fund 2,016,865,586 2,125,788,903
Tradable financial assets 90,000,000
Notes receivable 124,098,739 207,966,892
Accounts receivable 1,019,990,173 681,467,133
Receivables financing 347,157,199 382,527,782
Prepayments 119,952,561 85,928,641
Other receivables 199,342,999 200,969,854
Inventories 1,048,226,068 815,156,318
Other current assets 136,152,305 140,031,544
Total current assets 5,101,785,630 4,639,837,067
Non-current assets:
Investment real estate 383,084,500 383,084,500
Fixed assets 8,961,971,150 9,145,644,569
Construction in progress 1,973,479,214 1,893,380,611
Right-of-use asset 9,534,162
Intangible assets 1,180,633,322 1,139,718,255
Development expenditure 54,079,023 49,153,407
Goodwill 233,375,693 233,375,693
Long-term prepaid expenses 666,968 10,381,937
Deferred tax assets 194,230,481 194,979,414
Other non-current assets 199,078,024 193,359,445
Total non-current assets 13,190,132,537 13,243,077,831
Total assets 18,291,918,167 17,882,914,898
Current liabilities:
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CSG HOLDING CO., LTD. The First Quarter Report 2021
Short-term loan 322,688,500 352,895,571
Notes payable 206,524,926 144,851,192
Accounts payable 1,226,598,284 1,237,833,051
Contract liability 266,895,878 296,776,624
Payroll pay 214,904,810 342,352,166
Taxes payable 204,308,326 194,921,071
Other payables 236,233,747 287,332,992
Incl.: Interest payable 56,172,197 132,133,902
Non-current liabilities due within one year 931,301,946 927,531,709
Other current liabilities 29,378,554 34,586,292
Total current liabilities 3,638,834,971 3,819,080,668
Non-current liabilities:
Long-term loan 873,417,968 853,253,983
Bonds payable 1,994,647,424 1,994,020,348
Deferred income 490,003,419 498,056,081
Deferred income tax liabilities 100,093,369 102,619,932
Total non-current liabilities 3,458,162,180 3,447,950,344
Total Liabilities 7,096,997,151 7,267,031,012
Owners' equity:
Share capital 3,070,692,107 3,070,692,107
Capital reserve 596,997,085 596,997,085
Other comprehensive income 162,702,572 161,816,819
Special reserves 10,062,444 10,269,002
Surplus reserve 1,036,948,422 1,036,948,422
Undistributed profits 5,909,535,205 5,336,266,412
Total owner's equity attributable to the parent company 10,786,937,835 10,212,989,847
Minority shareholders' equity 407,983,181 402,894,039
Total owner's equity 11,194,921,016 10,615,883,886
Total Liabilities and Owner's Equity 18,291,918,167 17,882,914,898
Legal Representative: Chen Lin, Responsible person in charge of the accounting: Wang Jian, Principal of the financial department:
Wang Wenxin
2. Balance Sheet of the Parent Company
Unit: RMB
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CSG HOLDING CO., LTD. The First Quarter Report 2021
Item March 31, 2021 December 31, 2020
Current asset:
Monetary Fund 1,507,758,454 1,072,875,571
Tradable financial assets 90,000,000
Prepayments 1,656,513 1,650,184
Other receivables 2,821,116,552 3,803,908,369
Other current assets 66,321
Total current assets 4,420,531,519 4,878,500,445
Non-current assets:
Long-term equity investment 5,922,907,870 5,844,507,870
Fixed assets 18,331,606 19,769,193
Intangible assets 493,001 140,836
Other non-current assets 4,607,615 4,546,275
Total non-current assets 5,946,340,092 5,868,964,174
Total assets 10,366,871,611 10,747,464,619
Current liabilities:
Short-term loan 100,000,000 49,800,000
Accounts payable 1,379,721 249,721
Payroll payable 29,581,141 46,504,458
Taxes payable 869,926 9,457,159
Other payables 683,416,985 1,002,135,702
Incl.: Interest payable 55,545,295 131,513,019
Non-current liabilities due within one year 800,000,000 800,000,000
Total current liabilities 1,615,247,773 1,908,147,040
Non-current liabilities:
Long term loan 692,500,000 700,000,000
Bonds payable 1,994,647,424 1,994,020,348
Deferred income 180,113,167 180,496,249
Total non-current liabilities 2,867,260,591 2,874,516,597
Total Liabilities 4,482,508,364 4,782,663,637
Owners' equity:
Share capital 3,070,692,107 3,070,692,107
Capital reserve 741,824,399 741,824,399
Surplus reserve 1,051,493,782 1,051,493,782
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CSG HOLDING CO., LTD. The First Quarter Report 2021
Undistributed profits 1,020,352,959 1,100,790,694
Total owner's equity 5,884,363,247 5,964,800,982
Total Liabilities and Owner's Equity 10,366,871,611 10,747,464,619
3. Consolidated Income Statement
Unit: RMB
Item Balance of this period Balance of last period
I. Total operating revenue 3,006,832,539 1,733,965,637
Incl. :Business income 3,006,832,539 1,733,965,637
II. Total business cost 2,306,236,702 1,598,409,180
Incl. :Business cost 1,884,970,395 1,223,133,015
Taxes and surcharges 33,969,707 21,811,789
Sales expense 59,878,963 68,190,292
Management costs 176,841,412 154,294,998
Research and development expenses 104,095,372 72,997,585
Financial expenses 46,480,853 57,981,501
Incl. : Interest expense 56,228,887 67,258,381
Interest income 11,013,336 11,556,400
Plus: Other income 14,347,461 20,792,152
Investment income (“-” for loss) 1,373,392
Credit impairment loss (“-” for loss) -6,144,938 -3,756,132
Asset disposal income(“-” for loss) -298,458 -494,285
III. Operational profit (“-” for loss) 709,873,294 152,098,192
Plus: non-operational income 2,976,619 585,906
Less: non-operational expenses 15,315,650 17,217,192
IV. Gross profit (“-” for loss) 697,534,263 135,466,906
Less: Income tax expenses 119,176,328 23,478,147
V. Net profit (“-” for net loss) 578,357,935 111,988,759
(I) Classification by business continuity
1. Net profit from continuous operation(“-” for net loss) 578,357,935 111,988,759
2. Discontinued operating net profit(“-” for net loss)
(II) Classification by ownership
1. Net profit attributable to shareholders of the parent company 573,268,793 111,278,288
2. Minor shareholders’ equity 5,089,142 710,471
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CSG HOLDING CO., LTD. The First Quarter Report 2021
VI. Net after-tax amount of other comprehensive income 885,753 1,492,543
Net after-tax amount of other comprehensive income attributable
885,753 1,492,543
to the owner of the parent company
(I) Other comprehensive income that will be reclassified into
885,753 1,492,543
profit or loss
1. Foreign-currency financial statement translation difference 885,753 1,492,543
VII. Total comprehensive income 579,243,688 113,481,302
Total comprehensive income attributable to owners of the
574,154,546 112,770,831
Company
Total comprehensive income attributable to minority shareholders 5,089,142 710,471
VIII. Earnings per share
(I) Basic earnings per share 0.19 0.04
(II) Diluted earnings per share 0.19 0.04
Legal Representative: Chen Lin, Responsible person in charge of the accounting: Wang Jian, Principal of the financial department:
Wang Wenxin
4. Income Statement of the Parent Company
Unit: RMB
Item Balance of this period Balance of last period
I. Operating revenue 18,975,450 19,233,446
Less: Business cost
Taxes and surcharges 102,225 20,006
Sales expense
Management costs 44,838,772 19,879,935
Research and development expenses 204,933 4,617
Financial expenses 42,269,579 29,286,644
Incl. : Interest expense 52,077,819 39,873,739
Interest income 9,744,220 10,724,357
Plus: Other income 1,702,243 735,596
Investment income (“-” for loss) 1,373,392
Credit impairment loss (“-” for loss) -5,646 -123,501
Asset disposal income(“-” for loss) -70,796
II. Operational profit (“-” for loss) -65,440,866 -29,345,661
Plus: non-operational income 29,967 76,152
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CSG HOLDING CO., LTD. The First Quarter Report 2021
Less: non-operational expenses 15,026,836 1,617,750
III.. Gross profit (“-” for loss) -80,437,735 -30,887,259
Less: Income tax expenses
IV. Net profit (“-” for net loss) -80,437,735 -30,887,259
(I) Net profit from continuous operation(“-” for net loss) -80,437,735 -30,887,259
V.Net amount of other comprehensive income after tax
VI. Total comprehensive income -80,437,735 -30,887,259
VII. Earnings per share
(I) Basic earnings per share
(II) Diluted earnings per share
5. Consolidated Cash Flow Statement
Unit: RMB
Item Balance of this period Balance of last period
I. Net cash flow from business operation:
Cash received from sales of products and providing of services 2,989,003,056 1,783,332,428
Refunds of taxes 1,578,830 1,032,626
Received other cash related to business activities 33,650,668 34,722,910
Subtotal of cash inflow from operating activities 3,024,232,554 1,819,087,964
Cash paid for the purchase of goods and services 1,743,026,747 1,145,407,582
Cash paid to and for employees 527,402,580 424,877,941
Payments of all types of taxes 274,884,499 133,051,857
Payment of other cash related to business activities 137,626,930 126,877,352
Subtotal of cash outflow from operating activities 2,682,940,756 1,830,214,732
Net cash flow from operating activities 341,291,798 -11,126,768
II. Cash flows from investing activities:
Other cash received relating to investing activities 550,000,000
Cash received from investment income 1,373,392
Net cash received from the disposal of fixed assets, intangible
356,696 520,508
assets and other long-term assets
Other cash received relating to investing activities 16,753,461 321,068,423
Subtotal of cash inflows from investment activities 568,483,549 321,588,931
Cash paid for the purchase and construction of fixed assets, 234,168,691 246,551,903
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CSG HOLDING CO., LTD. The First Quarter Report 2021
intangible assets and other long-term assets
Cash paid for investment 640,000,000
Other cash paid relating to investing activities 5,206,030 15,432,851
Subtotal of cash outflows from investing activities 879,374,721 261,984,754
Net cash flows from investing activities -310,891,172 59,604,177
III. Cash flow from financing activities:
Cash received from the loan 143,434,231 1,114,359,186
Cash received from the issuance of bonds 2,000,000,000
Other financing-related cash received 20,000 904,849
Subtotal of cash inflows from financing activities 143,454,231 3,115,264,035
Cash paid for debt repayment 149,972,571 917,657,084
Cash paid for dividends, profits or interest payments 132,691,808 40,226,280
Payment of other cash related to financing activities 316,663 197,505,852
Subtotal of cash outflows from financing activities 282,981,042 1,155,389,216
Net cash flow from financing activities -139,526,811 1,959,874,819
IV. Influence of exchange rate alternation on cash and cash
202,866 759,216
equivalents
V. Net increase in cash and cash equivalents -108,923,319 2,009,111,444
Plus: Balance of cash and cash equivalents at the beginning of
2,124,028,196 1,831,835,030
term
VI. Balance of cash and cash equivalents at the end of term 2,015,104,877 3,840,946,474
6. Cash Flow Statement of the Parent Company
Unit: RMB
Item Balance of this period Balance of last period
I. Net cash flow from business operation:
Cash received from sales of products and providing of services
Refunds of taxes 18,321
Received other cash related to business activities 14,626,713 17,504,825
Subtotal of cash inflow from operating activities 14,626,713 17,523,146
Cash paid for the purchase of goods and services
Cash paid to and for employees 47,388,336 65,197,531
Payments of all types of taxes 10,036,290 6,802,435
Payment of other cash related to business activities 24,525,402 5,566,108
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CSG HOLDING CO., LTD. The First Quarter Report 2021
Subtotal of cash outflow from operating activities 81,950,028 77,566,074
Net cash flow from operating activities -67,323,315 -60,042,928
II. Cash flows from investing activities:
Other cash received relating to investing activities 550,000,000
Cash received from investment income 250,460,649
Net cash received from the disposal of fixed assets, intangible
30,560
assets and other long-term assets
Other cash received relating to investing activities 300,000,000
Subtotal of cash inflows from investment activities 800,491,209 300,000,000
Cash paid for the purchase and construction of fixed assets,
556,464 9,586,096
intangible assets and other long-term assets
Cash paid for investment 718,400,000 81,400,000
Subtotal of cash outflows from investing activities 718,956,464 90,986,096
Net cash flows from investing activities 81,534,745 209,013,904
III. Cash flow from financing activities:
Cash received from the loan 100,000,000 827,549,801
Cash received from the issuance of bonds 2,000,000,000
Other financing-related cash received 505,384,966
Subtotal of cash inflows from financing activities 605,384,966 2,827,549,801
Cash paid for debt repayment 57,300,000 631,999,801
Cash paid for dividends, profits or interest payments 127,418,467 22,458,117
Payment of other cash related to financing activities 290,614,929
Subtotal of cash outflows from financing activities 184,718,467 945,072,847
Net cash flow from financing activities 420,666,499 1,882,476,954
IV. Influence of exchange rate alternation on cash and cash
4,955 14,917
equivalents
V. Net increase in cash and cash equivalents 434,882,884 2,031,462,847
Plus: Balance of cash and cash equivalents at the beginning of
1,071,200,364 1,407,215,863
term
VI. Balance of cash and cash equivalents at the end of term 1,506,083,248 3,438,678,710
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CSG HOLDING CO., LTD. The First Quarter Report 2021
II. Note to the Adjustment of Financial Statements
1. Adjustment of financial statements at the beginning of the year according to the implementation of the
new lease standard for the first time from 2021
√Applicable □Not applicable
Whether it is necessary to adjust the balance sheet accounts at the beginning of the year
√Yes □No
According to the "Accounting Standards for Business Enterprises No. 21-Leases" (hereinafter referred to as the New Lease Standards)
issued by the Ministry of Finance of the People's Republic of China in December 2018, companies that are listed at the same time
both domestically and overseas as well as those listed overseas and adopt financial reporting standards or companies that implement
the Accounting Standards for Business Enterprises shall take effect on January 1, 2019; other companies that implement the
Accounting Standards for Business Enterprises shall take effect on January 1, 2021.
The main impacts of the implementation of the new lease standard on the company's financial statements on January 1, 2021 are as
follows:
Item December 31, 2020 January 1, 2021 Adjust data
Long-term prepaid
10,381,937 741,179 -9,640,758
expenses
Right-of-use asset 9,640,758 9,640,758
Total 10,381,937 10,381,937
2. Explanation of the retrospective adjustment of the previous comparative data of the new lease standard
for the first time from 2021
□ Applicable √Not applicable
III. Report of the Auditors
Whether the First Quarter Report has been audited or not
□ Yes √ No
The First Quarter Report hasn’t been audited.
Board of Directors of
CSG Holding Co., Ltd.
24 April 2021
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