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南 玻B:2022年第一季度报告(英文版)2022-04-29  

                        CSG HOLDING CO., LTD.                                                                                   The First Quarter Report 2022


Stock Code: 000012/200012                        Short Form of Stock: Southern Glass A/B                     Notice No.:2022-019
Bond Code: 149079                                Short Form of Bond: 20 CSG 01




                                                 CSG Holding Co., Ltd.

                                           The First Quarter Report 2022

The Company and all the members of the Board of Directors confirm that the information
disclosed is authentic, accurate and complete, and there are no any fictitious statements, misleading
statements or significant omissions carried in this report.

Important Notice:
1. Board of Directors and the Supervisory Committee and its directors, supervisors and senior
executives hereby confirm that the Quarter Report is authentic, accurate and complete and there are
no any fictitious statements, misleading statements, or significant omissions carried in this report,
and shall take individual and joint legal responsibilities.
2. Head of the Company, responsible person in charge of accounting and principal of the financial
department (accounting officer) confirm that the financial information in this Quarter Report is
authentic, accurate and complete.
3. Whether the First Quarter Report has been audited or not
□ Yes √ No
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.

I. Main financial data

(I)Major accounting data and financial indicators

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

□Yes     √No

                                                                               The same period of the           Year-on-year
                                                       The report period
                                                                                    previous year            increase/decrease

Operating income (RMB)                                         2,785,709,687            3,006,832,539                          -7.35%

Net profit attributable to shareholders of the
                                                                383,682,831                573,268,793                     -33.07%
listed company (RMB)

Net profit attributable to shareholders of the
                                                                336,240,261                572,808,470                     -41.30%
listed company after deducting non-recurring


                                                                 1
CSG HOLDING CO., LTD.                                                                                        The First Quarter Report 2022


gains and losses (RMB)

Net cash flow arising from operating activities
                                                                    102,057,062                341,291,798                          -70.10%
(RMB)

Basic earnings per share (RMB/Share)                                        0.12                          0.19                      -36.84%

Diluted earnings per share (RMB/Share)                                      0.12                          0.19                      -36.84%

Weighted average ROE (%)                                                  3.30%                      5.46%                               -2.16%

                                                                                                                 Increase/decrease at the end
                                                      End of the report period End of the previous year of the report period over the
                                                                                                                   end of the previous year

Total assets (RMB)                                               20,699,582,452             19,939,364,510                               3.81%

Net assets attributable to shareholders of the
                                                                 11,805,984,216              11,429,661,046                              3.29%
listed company (RMB)


(II) Item and amount of non-recurring gains and losses

√Applicable     □ Not applicable
                                                                                                                                Unit: RMB

                                          Item                                              Amount in the report period           Note

Gains/losses from the disposal of non-current asset (including the write-off that
                                                                                                                  3,068,799
accrued for impairment of assets)

Governmental subsidy reckoned into current gains/losses (not including the subsidy
enjoyed in quota or ration according to national standards, which are closely relevant                           46,614,460
to enterprise’s business)

In addition to the effective hedging business related to the normal business of the
company, the profit and loss from changes in fair value arising from holding trading
financial assets and trading financial liabilities, as well as the investment income                              8,493,186
obtained from the disposal of trading financial assets, trading financial liabilities and
available for sale financial assets

Reversal of provision for impairment of receivables that have been individually
                                                                                                                   601,289
tested for impairment

Other non-operating income and expenditure except for the aforementioned items                                     -961,899

Less: Impact on income tax                                                                                        9,039,153

     Impact on minority shareholders’ equity (post-tax)                                                          1,334,112

Total                                                                                                            47,442,570         --

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


Explanation of the non-recurring gains and losses listed in the Explanatory Announcement No.1 on Information Disclosure for

                                                                     2
CSG HOLDING CO., LTD.                                                                                 The First Quarter Report 2022


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


(III) Statement of change in the major accounting data and financial indicators and the causes

√Applicable     □ Not applicable
                                                                                                                        Unit: RMB

     Item of the Balance Sheet         Note          March 31, 2022              December 31, 2021          Percentage of change

 Notes receivable                       (1)                     3,118,469                     19,220,984                     -84%

 Accounts receivable                    (2)                   973,020,406                    730,525,687                      33%

 prepayments                            (3)                   129,634,944                     76,097,276                      70%

 Inventories                            (4)                 1,516,472,480                  1,093,805,525                      39%

 Other current assets                   (5)                   182,463,523                    140,705,298                      30%

 Short-term borrowings                  (6)                    90,770,000                    180,770,000                     -50%

 Employee benefits payable              (7)                   237,455,537                    426,212,979                     -44%

 Other payables                         (8)                   186,600,761                    289,440,477                     -36%

 Non-current liabilities due within
                                        (9)                 2,529,405,242                    503,820,548                    402%
 one year

 Long-term borrowings                  (10)                 1,920,374,171                  1,469,059,824                      31%

 Bonds payable                         (11)                               -                1,996,587,330                   -100%

 Lease liabilities                     (12)                               -                      220,138                   -100%

 Special reserve                       (13)                       476,574                      7,296,397                     -93%



    Item of Income Statement           Note          Jan.-Mar.2022                 Jan.-Mar.2021            Percentage of change

 Financial expenses                    (14)                    30,893,854                     46,480,853                     -34%

 Investment income                     (15)                     8,493,186                      1,373,392                    518%

 Asset impairment loss                 (16)                          -1,456                             -                        -

 Income on disposal assets             (17)                     3,067,343                       -298,458                         -

 Other income                          (18)                    48,350,708                     14,347,461                    237%

 Non-operating income                  (19)                     1,658,098                      2,976,619                     -44%

 Non-operating expenses                (20)                     2,619,997                     15,315,650                     -83%

 Income tax expenses                   (21)                    66,600,517                    119,176,328                     -44%

 Net after-tax amount of other         (22)                      -539,838                        885,753                   -161%
 comprehensive income


                                                                 3
CSG HOLDING CO., LTD.                                                                                       The First Quarter Report 2022


Notes:
(1) The decrease in notes receivable was mainly due to the change of collection method of some subsidiaries and some were
converted to accounts receivable due to non-performance by the drawer.
(2) The increase in accounts receivable was mainly due to the increase in accounts receivable from architectural glass Companies.
(3) The increase in prepayments was mainly due to the increase in prepayments for materials by some subsidiaries.
(4) The increase in inventories was mainly due to the increase in the inventory for the resumption of polysilicon production of the
subsidiary and changes in the pace of production and sales of the companies in the Glass Division.
(5) The increase in other current assets was mainly due to the increase in input tax to be deducted for some subsidiaries.
(6) The decrease in short-term borrowings was mainly due to the repayment of part of the borrowings.
(7) 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.
(8) The decrease in other payables was mainly due to the payment of corporate bond interest during the report period.
(9) The increase in non-current liabilities due within one year was mainly due to the reclassification of bonds payable to non-current
liabilities due within one year.
(10) The increase in long-term borrowings was mainly due to the increase in borrowings for the projects.
(11) The decrease in bonds payable was mainly due to the reclassification of bonds payable to non-current liabilities due within one
year.
(12) The decrease in lease liabilities was mainly due to the reclassification of lease liabilities to non-current liabilities due within one
year
(13) The decrease in special reserve was mainly due to the write-off of special reserves by subsidiaries.
(14) The decrease in financial expenses was mainly due to the decrease in interest expenses.
(15) The increase in investment income was mainly due to the increase in income from structured deposits.
(16) The decrease in asset impairment loss was mainly due to the subsidiary's write-off of inventory depreciation reserves.
(17) The increase in income on disposal assets was mainly due to the increase in gains and losses from disposal of assets by some
subsidiaries.
(18) The increase in other income was mainly due to the increase in the amortization of deferred income of some subsidiaries.
(19) The decrease in non-operating income was mainly due to the decrease in claim income and the payments unable to pay, etc.
(20) The decrease in non-operating expenses was mainly due to the return of government subsidies in the previous period.
(21) The decrease in income tax expenses was mainly due to the decrease in total profits.
(22) The decrease in net after-tax amount of other comprehensive income was mainly due to changes in the translation differences in
foreign currency statements.


II. Information of shareholders

(I) 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
                                                      157,188                                                                            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


                                                                     4
CSG HOLDING CO., LTD.                                                                                       The First Quarter Report 2022


                                                                                                                       Number of share
                                                                            Proportion                 Amount of      pledged, marked or
                                                                                         Amount of
            Name of shareholder                 Nature of shareholder       of shares                  restricted              frozen
                                                                                         shares held
                                                                             held (%)                  shares held    Share
                                                                                                                                   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

Bank of China Limited - China
                                             Domestic non state-owned
Merchants Ruiwen Hybrid Securities                                              2.85%    87,416,306
                                             legal person
Investment Fund

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

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

China Merchants Securities (HK) Co.,
                                             State-owned legal person           1.42%    43,621,323
Limited

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

National Social Security Fund 110            Domestic non state-owned
                                                                                1.13%    34,667,149
Portfolio                                    legal person

Ping An Bank Co., Ltd. - China
Merchants Credit Suisse Steady               Domestic non state-owned
                                                                                0.97%    29,718,363
Allocation Hybrid Securities Investment legal person
Fund

China Life Insurance Company Limited -
                                             Domestic non state-owned
Traditional - General Insurance Products -                                      0.83%    25,361,164
                                             legal person
005L-CT001 Shen

                                  Particulars about the top ten shareholders with un-restrict shares held

                                                                         Amount of unrestricted               Type of shares
                        Name of shareholder
                                                                              shares held                   Type                  Amount

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

Bank of China Limited - China Merchants Ruiwen Hybrid
                                                                                     87,416,306 RMB ordinary shares              87,416,306
Securities Investment Fund

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



                                                                     5
CSG HOLDING CO., LTD.                                                                                     The First Quarter Report 2022


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

                                                                                                Domestically listed
China Merchants Securities (HK) Co., Limited                                       43,621,323                                43,621,323
                                                                                                foreign shares

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

National Social Security Fund 110 Portfolio                                        34,667,149 RMB ordinary shares            34,667,149

Ping An Bank Co., Ltd. - China Merchants Credit Suisse Steady
                                                                                   29,718,363 RMB ordinary shares            29,718,363
Allocation Hybrid Securities Investment Fund

China Life Insurance Company Limited - Traditional - General
                                                                                   25,361,164 RMB ordinary shares            25,361,164
Insurance Products - 005L-CT001 Shen

                                       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
                                       Regulation of Information Disclosure on Change of Shareholding for Listed Companies.

Explanation on the top ten
shareholders which involving           N/A
margin business (if applicable)


 (II) The total number of preferred shareholders of the company and particulars about the top ten
preferred shareholders

□ Applicable   √ Not applicable


III. Statement on other important matters

√Applicable    □ Not applicable

(I) Ultra-short-term financing bills
On June 15, 2020, the Third Extraordinary Shareholders’ General Meeting 2020 of CSG reviewed and approved the proposal on
application for registration and issuance of ultra-short-term financing bills and medium-term notes, which agreed that the Company
should register and issue ultra-short-term financing bills with a registered amount not exceeding 1.5 billion yuan (the limit is not
subject to the limit of 40% of net assets).With the period of validity of the quota not longer than two years, such ultra-short-term
financing bills will be issued by installments in accordance with the actual capital needs of the Company and the situation of
inter-bank market funds. On September 4, 2020, the NAFMII held its 102nd registration meeting in 2020 and decided to accept the
Company's registration of ultra-short-term financing bills with a total of 1.5 billion yuan and a validity period of two years.

(II) Medium-term notes
On June 15, 2020, the Third Extraordinary Shareholders’ General Meeting 2020 of CSG reviewed and approved the proposal on


                                                                    6
CSG HOLDING CO., LTD.                                                                                The First Quarter Report 2022


application for registration and issuance of ultra-short-term financing bills and medium-term notes, which agreed that the Company
should register and issue medium-term notes with a registered amount not exceeding 1.5 billion yuan. With the period of validity of
the quota not longer than two years, such medium-term notes will be issued by installments in accordance with the actual capital
needs of the Company and the situation of inter-bank market funds. On September 4, 2020, the NAFMII held its 102nd registration
meeting in 2020 and decided to accept the Company's registration of medium-term notes with a total of 1.5 billion yuan and a
validity period of two years.

(III) Public issuance of corporate bonds
On March 2, 2017, the Second Extraordinary Shareholders’ General Meeting 2017 reviewed and approved the “Proposal on the
Public Issuance of Corporate Bonds for Qualified Investors". On February 27, 2019, the First Extraordinary Shareholders’ General
Meeting 2019 reviewed and approved the “Proposal on Extending the Validity Period of the Shareholders' General 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.


IV. Quarterly financial statements

(I) Financial statements

1. Consolidated Balance Sheet

Prepared by CSG Holding Co., Ltd.
                                                         March 31, 2022
                                                                                                                      Unit: RMB

                         Item                                   Ending balance                        Opening balance

Current asset:

     Monetary Fund                                                           2,307,789,914                         2,765,925,906

     Tradable financial assets                                                   998,160,000                         999,600,000

     Notes receivable                                                              3,118,469                          19,220,984

     Accounts receivable                                                         973,020,406                         730,525,687

     Receivables financing                                                       231,764,980                         297,046,123

     Prepayments                                                                 129,634,944                          76,097,276

     Other receivables                                                           185,837,560                         183,696,711

     Inventories                                                             1,516,472,480                         1,093,805,525

     Other current assets                                                        182,463,523                         140,705,298

Total current assets                                                         6,528,262,276                         6,306,623,510

Non-current assets:




                                                                7
CSG HOLDING CO., LTD.                                                   The First Quarter Report 2022


     Investment real estate                              383,084,500                   383,084,500

     Fixed assets                                       9,109,757,144                 8,566,515,026

     Construction in progress                           2,327,437,036                 2,461,088,650

     Right-of-use asset                                     9,472,983                     9,911,935

     Intangible assets                                  1,177,909,939                 1,167,611,402

     Development expenditure                              89,148,220                     72,019,362

     Goodwill                                            130,147,859                   130,147,859

     Long-term prepaid expenses                             3,271,426                     3,013,721

     Deferred tax assets                                 252,213,065                   255,185,923

     Other non-current assets                            688,878,004                   584,162,622

Total non-current assets                               14,171,320,176               13,632,741,000

Total assets                                           20,699,582,452               19,939,364,510

Current liabilities:

     Short-term borrowings                                90,770,000                   180,770,000

     Notes payable                                       442,671,687                   400,662,713

     Accounts payable                                   1,720,920,759                 1,428,851,312

     Contract liability                                  386,426,568                   335,188,642

     Employee benefits payable                           237,455,537                   426,212,979

     Taxes payable                                       131,565,273                   185,009,681

     Other payables                                      186,600,761                   289,440,477

          Incl.: Interest payable                           5,616,409                    95,001,362

     Non-current liabilities due within one year        2,529,405,242                  503,820,548

     Other current liabilities                            45,293,406                     40,099,309

Total current liabilities                               5,771,109,233                 3,790,055,661

Non-current liabilities:

     Long-term borrowings                               1,920,374,171                 1,469,059,824

     Bonds payable                                                                    1,996,587,330

     Lease liabilities                                                                      220,138

     Long-term accounts payable                          147,148,057                   168,258,062

     Deferred income                                     529,711,379                   564,129,128

     Deferred income tax liabilities                      84,465,617                     84,580,132

Total non-current liabilities                           2,681,699,224                 4,282,834,614

Total Liabilities                                       8,452,808,457                 8,072,890,275

Owners' equity:



                                                   8
CSG HOLDING CO., LTD.                                                                                  The First Quarter Report 2022


     Share capital                                                              3,070,692,107                        3,070,692,107

     Capital reserve                                                              596,997,085                          596,997,085

     Other comprehensive income                                                   158,660,692                          159,200,530

     Special reserves                                                                 476,574                            7,296,397

     Surplus reserve                                                            1,144,887,510                        1,144,887,510

     Undistributed profits                                                      6,834,270,248                        6,450,587,417

Total owner's equity attributable to the parent
                                                                               11,805,984,216                       11,429,661,046
company

     Minority shareholders' equity                                                440,789,779                          436,813,189

Total owner's equity                                                           12,246,773,995                       11,866,474,235

Total Liabilities and Owner's Equity                                           20,699,582,452                       19,939,364,510


Legal Representative: Chen Lin, Responsible person in charge of the accounting: Wang Jian, Principal of the financial department:
Wang Wenxin


2. Consolidated Income Statement

                                                                                                                      Unit: RMB

                           Item                         Amount incurred in the report period Amount incurred in the previous period

I. Total operating revenue                                                    2,785,709,687                          3,006,832,539

Incl. :Business income                                                        2,785,709,687                          3,006,832,539

II. Total business cost                                                       2,385,993,949                          2,306,236,702

        Incl.: Business cost                                                  1,996,135,271                          1,884,970,395

              Taxes and surcharges                                               29,430,897                             33,969,707

              Sales expense                                                      62,182,177                             59,878,963

              Management costs                                                  155,690,153                            176,841,412

              Research and development expenses                                 111,661,597                            104,095,372

              Financial expenses                                                 30,893,854                             46,480,853

                 Incl. : Interest expense                                        43,766,699                             56,228,887

                          Interest income                                        14,681,526                             11,013,336

     Plus: Other income                                                          48,350,708                             14,347,461

           Investment income (“-” for loss)                                     8,493,186                              1,373,392

           Credit impairment loss (“-” for loss)                               -4,406,594                             -6,144,938

           Asset impairment loss (“-” for loss)                                     1,456

           Income on disposal assets (“-” for loss)                             3,067,343                               -298,458

III. Operational profit (“-” for loss)                                        455,221,837                            709,873,294



                                                                   9
CSG HOLDING CO., LTD.                                                                              The First Quarter Report 2022


        Plus: non-operating income                                            1,658,098                               2,976,619

        Less: non-operating expenses                                          2,619,997                             15,315,650

IV. Gross profit (“-” for loss)                                           454,259,938                            697,534,263

        Less: Income tax expenses                                            66,600,517                            119,176,328

V. Net profit (“-” for net loss)                                          387,659,421                            578,357,935

  (I) Classification by business continuity

        1. Net profit from continuous operation(“-” for
                                                                            387,659,421                            578,357,935
net loss)

        2. Discontinued operating net profit(“-” for net
loss)

  (II) Classification by ownership

        1. Net profit attributable to the owner of the
                                                                            383,682,831                            573,268,793
parent company

        2. Minor shareholders’ equity                                        3,976,590                               5,089,142

VI. Net after-tax amount of other comprehensive
                                                                               -539,838                                885,753
income

    Net after-tax amount of other comprehensive
income attributable to the owner of the parent                                 -539,838                                885,753
company

        (I) Other comprehensive income that will be
                                                                               -539,838                                885,753
reclassified into profit or loss

          1. Foreign-currency financial statement
                                                                               -539,838                                885,753
translation difference

VII. Total comprehensive income                                             387,119,583                            579,243,688

    Total comprehensive income attributable to
                                                                            383,142,993                            574,154,546
owners of the Company

    Total comprehensive income attributable to
                                                                              3,976,590                               5,089,142
minority shareholders

VIII. Earnings per share

        (I) Basic earnings per share                                                0.12                                   0.19

        (II) Diluted earnings per share                                             0.12                                   0.19


Legal Representative: Chen Lin, Responsible person in charge of the accounting: Wang Jian, Principal of the financial department:
Wang Wenxin


3. Consolidated Cash Flow Statement

                                                                                                                    Unit: RMB



                                                               10
CSG HOLDING CO., LTD.                                                                                  The First Quarter Report 2022


                        Item                            Amount incurred in the report period Amount incurred in the previous period

I. Net cash flow from business operation:

     Cash received from sales of products and
                                                                              2,975,194,851                          2,989,003,056
providing of services

     Refunds of taxes                                                             6,174,213                              1,578,830

     Received other cash related to business
                                                                                 45,200,715                             33,650,668
activities

Subtotal of cash inflow from operating activities                             3,026,569,779                          3,024,232,554

     Cash paid for the purchase of goods and
                                                                              1,997,455,533                          1,743,026,747
services

     Cash paid to and for employees                                             592,412,995                            527,402,580

     Payments of all types of taxes                                             232,790,434                            274,884,499

     Payment of other cash related to business
                                                                                101,853,755                            137,626,930
activities

Subtotal of cash outflow from operating activities                            2,924,512,717                          2,682,940,756

Net cash flow from operating activities                                         102,057,062                            341,291,798

II. Cash flows from investing activities:

     Cash received from returns on investment                                 1,149,600,000                            550,000,000

     Cash received from returns on investment
                                                                                  8,095,668                              1,373,392
income

     Net cash received from the disposal of fixed
                                                                                    978,036                                356,696
assets, intangible assets and other long-term assets

     Cash received relating to other investing
                                                                                                                        16,753,461
activities

Subtotal of cash inflows from investment activities                           1,158,673,704                            568,483,549

     Cash paid for the purchase and construction of
fixed assets, intangible assets and other long-term                             784,088,536                            234,168,691
assets

     Cash paid for investment                                                 1,148,160,000                            640,000,000

     Cash paid relating to other investing activities                             5,319,802                              5,206,030

Subtotal of cash outflows from investing activities                           1,937,568,338                            879,374,721

Net cash flows from investing activities                                       -778,894,634                           -310,891,172

III. Cash flow from financing activities:

     Cash received from the loan                                                489,156,004                            143,434,231

     Other financing-related cash received                                                                                  20,000

Subtotal of cash inflows from financing activities                              489,156,004                            143,454,231



                                                                   11
CSG HOLDING CO., LTD.                                                           The First Quarter Report 2022


     Cash paid for debt repayment                                100,000,000                   149,972,571

     Cash paid for dividends, profits or interest
                                                                 144,617,231                   132,691,808
payments

     Payment of other cash related to financing
                                                                  23,817,019                        316,663
activities

Subtotal of cash outflows from financing activities              268,434,250                   282,981,042

Net cash flow from financing activities                          220,721,754                   -139,526,811

IV. Influence of exchange rate alternation on cash
                                                                      68,620                        202,866
and cash equivalents

V. Net increase in cash and cash equivalents                    -456,047,198                   -108,923,319

     Plus: Balance of cash and cash equivalents at
                                                                2,756,477,572                 2,124,028,196
the beginning of term

VI. Balance of cash and cash equivalents at the end
                                                                2,300,430,374                 2,015,104,877
of term


(II) 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.
29 April 2022




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