Bengang Steel Plates Co., Ltd.Third Quarter Report 2020
October 2020
I. Important NoticeThe Board of Directors, the Supervisory Committee and the Directors, members of theSupervisory Committee and senior management of the Company guarantee that thereare no misrepresentations or misleading statements, or material omission in this report,and individually and collectively accept full responsibility for the authenticity,accuracy andintegrity of the information contained in this report.
All the members of the Board of Directors attended the board meeting on which thisreport was examined.Gao Lie, Chairman of the Company, Shen Qiang, the principal in charge of theaccounting, and Zhao Zhonghua, Chief of Accounting Affairs, make the pledge for theauthenticity, accuracy and integrity of the attached financial statements.
II. Company Profile
I. Summary of Accounting data and Financial index
Whether the Company makes retroactive adjustment or restatement of the accounting data of the previous year
□ Yes √ No
At the end of the current
period
At the end of previous year
previous yearTotal assets（RMB） 65,200,664,816.84
| Increase or decrease at the end of this reporting period over the | ||
60,731,425,193.90
7.36%
Net assets attributable toshareholders of the listed company（RMB）
20,945,268,782.71
19,487,665,261.17
7.48%
This reporting period
Increase or decreaseover the same periodof the previous year
From the beginning ofthis year to the end ofthis reporting period
the same period of the
previous yearOperating income（RMB） 12,667,300,144.93
| Increase or decrease over | ||
-12.29%
34,851,837,404.98
-9.58%
Net profit attributable to theshareholders of the listed company（RMB）
28,865,084.77
-15.67%
283,509,289.10
-41.84%
Net profit after deducting of non-recurring gain/loss attributable tothe shareholders of listed company（RMB）
4,967,865.93
-81.11%
244,853,338.47
-48.94%
Net Cash flow generated bybusiness operation（RMB）
--
--
-1,407,629,344.42
-117.11%
Basic earnings pershare(RMB/Share)
0.01
0.00%
0.07
-46.15%
Diluted earnings pershare(RMB/Share)
0.01
0.00%
0.07
-46.15%
Weighted average net assets yield 0.14%
-0.04%
1.37%
-1.16%
Items and amount of non-recurring profit and loss
√ Applicable □ Not applicable
Unit: YuanItems
From the beginning of the year tothe end of the current period
NotesProfit or loss from disposal of non-current assets(including the write-off part for which assetsimpairment provision is made)
-19,551,512.21
Details of government subsidies recorded into currentprofits and loss（except such government subsidyclosely related to the company’s normal businessoperation, meeting the regulation of national policy andenjoyed constantly in certain quota or quantityaccording to a certain standard）
57,452,382.09
Profit or loss from debt restructuring 32,800.02
Other non-
| operating revenue and expenditure other than |
above items
988,008.32
Less: Impact of income tax 255,202.08
Impact of minority interests (after tax) 10,525.51
Total 38,655,950.63
--For the Company’s non-recurring profit and loss items as defined in “the Explanatory Announcement No.1 on informationdisclosure for Companies Offering their Securities to the Public-Non-recurring Profits and Losses” and its non-recurring profit andloss items as illustrated in “the Explanatory Announcement No.1 on information disclosure for Companies Offering their Securitiesto the Public-Non-recurring Profits and Losses” which have been defined as recurring profits and losses, it is necessary to explainthe reason.
□ Applicable √ Not applicable
None of Non-recurring profit and loss items recognized as recurring profit and loss items as defined by “the ExplanatoryAnnouncement No.1 on information disclosure for Companies Offering their Securities to the Public-Non-recurring Profits andLosses” in the report period.
II. Total Number of Shareholders and Shareholding of top 10 shareholders
1. Total number of common shareholders, preferred shareholders whose voting rights
restored, and shareholding of top 10 shareholders
Unit: ShareTotal number of commonshareholders at the end of thereporting period
50,963
The total number of preferredshareholders whose voting rights hasbeen restored at end of the reportingperiod（if any）
Shareholding by Top 10 shareholdersName of the Nature of Proportion of
Amount ofNumber of share pledged/frozen
shareholder shareholder
shares held sharesrestricted sharesheld
State of share Quantity
| Benxi Steel & Iron |
(Group) Co., Ltd.
State-
person
62.18%
| owned legal |
2,409,628,094
Pledged 712,545,000
Frozen 102,100,000
CCB PrincipalAssetManagement –ICBC – CR Trust– CR Trust · XingSheng No. 5Collective FundTrust Plan
Others
4.77%
184,842,883
Bei Xin Rui FengFund – ChinaMerchants Bank –Bei Xin Rui FengFund Feng QingNo. 229 AssetManagement Plan
Others
4.77%
184,842,883
China Life AMPFund– ICBC –China Life AMP –Hua Xin TrustTargetedAdditional SharesIssuance No. 10AssetManagement Plan
Others
4.77%
184,842,883
LiaoningProvincialTransportationInvestment GroupCo., Ltd.
State-
person
3.92%
| owned legal |
151,806,883
Fang Lei
Domesticnaturalperson
0.36%
14,126,600
Shanghai Yi CunInvestmentManagement Co.,Ltd. – Yi CunSheng Hui No. 3
Others
0.31%
12,000,000
Private SecuritiesInvestment FundFang Huaiyue
Domesticnaturalperson
0.24%
9,205,501
Shanghai YingShui InvestmentManagement Co.,Ltd. – Ying ShuiFu Lin No. 10Private SecuritiesInvestment Fund
Others
0.24%
9,175,030
VanguardInvestmentAustralia Ltd. –Vanguard
Stock Index Fund
Overseaslegal person
| Emerging Markets |
0.22%
8,384,044
Shareholding of top 10 shareholders of unrestricted sharesName of the shareholder
Number of non-restricted common shares held at the
period-end
Category of sharesCategory of shares Quantity
Ltd.
2,409,628,094
| Benxi Steel & Iron (Group) Co., |
Common shares inRMB
2,409,628,094
| CCB Principal Asset |
Management – ICBC –
–
| CR Trust · Xing Sheng No. 5 |
Collective Fund Trust Plan
184,842,883
Common shares inRMB
184,842,883
Bei Xin Rui Feng Fund –
Merchants Bank –
| Bei Xin Rui Feng Fund Feng Qing No. 229 |
Asset Management Plan
184,842,883
Common shares inRMB
184,842,883
China Life AMP Fund– ICBC –
China Life AMP –
| Hua Xin |
Trust Targete
Management Plan
184,842,883
| d Additional Shares Issuance No. 10 Asset |
Common shares inRMB
184,842,883
| Liaoning Provincial Transportation Investment |
Group Co., Ltd.
151,806,883
Common shares inRMB
151,806,883
Fang Lei 14,126,600
Common shares inRMB
14,126,600
S
Management Co., Ltd. –
| Yi Cun |
Sheng Hui No. 3
Securities Investment Fund
12,000,000
| Private |
Common shares inRMB
12,000,000
Fang Huaiyue 9,205,501
Common shares inRMB
9,205,501
S
| hanghai Ying Shui Investment |
Management Co., Ltd. –
Shui Fu Lin No. 10
| Private |
Securities Investment Fund
9,175,030
Common shares inRMB
9,175,030
| Vanguard Investment Australia |
Ltd. -
Markets Stock Index Fund
8,384,044
| Vanguard Emerging |
Common shares inRMB
8,384,044
Related-parties or acting-in-concert parties among theabove-mentioned shareholders
It is unknown to the Company whether there is any related parties or action-in-concert parties asdefined in “Measures for the Administration of the Takeover of Listed Companies”among theabove-mentioned shareholders.
Shareholders among the top 10participating in securitiesmargin trading (if any)
Benxi Steel & Iron (Group) Co., Ltd. holds 2,170,628,094 shares of the company through anordinary securities account, and holds 239,000,000 shares through the investor's credit securitiesaccount, therefore, it holds a total of 2,409,628,094 shares. Fang Lei holds 14,126,600 shares ofthe company through an investor's credit securities account. Shanghai Yi Cun InvestmentManagement Co., Ltd. – Yi Cun Sheng Hui No. 3 Private Securities Investment Fund holds12,000,000 shares of the company through an investor's credit securities account. Fang Huaiyueholds 9,205,501 shares of the company through an investor's credit securities account. ShanghaiYing Shui Investment Management Co., Ltd. – Ying Shui Fu Lin No. 10 Private SecuritiesInvestment Fund holds 9,175,030 shares of the company through an investor's credit securitiesaccount.
Whether top 10 common shareholders and top 10 un-restricted common shareholders have a buy-backagreement dealing in reporting period
□ Yes √ No
Top 10 common shareholders and top 10 un-restricted common shareholders had no buy-back agreementdealing in reporting period.
2. Total Number of Preferred Shareholders and Shareholding of Top 10 Preferred
Shareholders
□ Applicable √ Not applicable
III. Important EventsI. Major Changes in Financial Data and Financial Index and Reasons
√ Applicable □ Not applicable
? Items and reasons for the changes of more than 30% compared with the beginning of the year in the
consolidated statement
1. Statement of Financial Position
Increase /Decrease
ReasonsAccounts receivable financing 113%
Due to the increase of accounts receivablereceived during the current periodConstruction in progress 74%
progress that did not meet the conditions oftransferring to fixed assets at the end of theperiodOther non-current assets 61%
Due to the increase of lease guarantee paidduring the current periodEmployee benefits payables 174%
Due to the increase of construction inDue to the increase of employee benefitspayables during the current period
Tax payables -94%
| Due to the increase of employee benefits payables during the current period |
| Due to the decrease of VAT payable at the end of this period |
Interest payables 146%
during the current periodNon-current liabilities due withinone year
350%
| Due to the increase of interest accrued |
| Due to the increase of non-current liabilities |
due within one year
Long-term payables 169%
| during the current period |
| Due to the increase of lease payment during |
the current periodSpecial reserves 13073%
Due to the increase of unpaid safety
? Items and reasons for the changes of more than 30% compared to January to September 2019 in the
consolidated financial statements
2. Statement of comprehensive income
Increase /Decrease
ReasonsFinancial expenses -35%
the current periodAssets disposal gains -87%
| Due to the increase of exchange loss during |
| Due to the decrease in assets sold during the current period |
Non-operating income -82%
Non-operating expenses -68%
| Due to the decrease of other non-operating income |
| Due to the decrease of losses arose from |
fixed assets scrapping
3. Statement of cash flows
Increase /Decrease
Reasons
Cash paid for goods and services 52%
Due to the increase of cash paid for goods and
services during the current periodCash paid for acquisition of fixedassets, intangible assets and otherlong-term assets
-65%
Due to the decrease of payment of acquisition
of fixed assets, intangible assets
current periodCash repayments of borrowings 67%
| during the |
| Due to the increase of cash on repayment of |
borrowingsCash and cash equivalents at theending of the period
-86%
Due to the increase of cash paid for goods and
services, and payment of acquisition of fixed
assets, intangible assets
period
II. Progress and influence of significant events, as well as the analysis and
explanation on solutions
√ Applicable □ Not applicable
1. Public offering and listing of A-share convertible corporate bonds
(1) Issue of convertible corporate bonds. Approved by the China Securities Regulatory Commission on
Approval of the Public Issuance of A-Share Convertible Corporate Bonds by Bengang Steel Plate Co.,Ltd. (Zheng Jian Permit [2020] No. 46), the company was approved to publicly issue a total face valueof 6.8 billion convertible bonds to the public with a maturity of 6 years. The company actually issued 68million convertible corporate bonds to the public, each with a face value of 100 yuan, and the total raisedfunds were 6.8 billion yuan. After deducting underwriting and sponsorship fees, issuance registrationfees and other expenses, a total of 41,084,701.18 yuan (excluding tax) was raised. The net amount offunds is RMB 6,758,915,298.82. The above funds have been transferred to the company's fund-raisingaccount on July 6, 2020. BDO Shu Lun Pan Certified Public Accountants LLP verified the receipt of thefunds raised above and issued Xin Kuai Shi Bao Zi [2020] No. ZB11494 "Capital Verification Report".
(2) Public offering of convertible corporate bonds. On August 4, 2020, the company’s A-share
convertible corporate bonds were listed on the Shenzhen Stock Exchange, the abbreviation of the bond:
Bengang Convertible Bonds, bond code: 127018, bond listings: 6.800 billion yuan (68 million). Thebeginning and ending date of existence: June 29, 2020 to June 28, 2026, the beginning and ending dateof the conversion of convertible bonds: January 4, 2021 to June 28, 2026.
Overview of important matters Date of disclosure
Interim report disclosurewebsite query indexPublic issuance of A-
RMB 6.8
| billion, each with a face value of RMB 100, a total of 68 million, with |
a term of 6 years.
June 23, 2020
www.cninfo.com.cn
Announcement No.: 2020-037
366,180,860.17 to replace self-
| raised |
funds that were invested in
and paid for issuance.
July 14, 2020
www.cninfo.com.cnAnnouncement No.: 2020-047
| investment projects with raised funds in advance |
| The company uses a quota of no more than RMB 4 billion (including) temporarily idle raised funds for cash management, and the period is no more |
than 12 months.
July 14, 2020
www.cninfo.com.cn
Announcement No.: 2020-048
666 million yuan was raised from non-
| public issuance of stocks, and 4,180 million yuan was raised from public issuance of convertible bonds. The use period shall not exceed 12 months from the date of approval by the board of |
directors.
July 29, 2020
www.cninfo.com.cn
Announcement No.: 2020-052
The company’s A-share convertiblecorporate bonds were listed on theShenzhen Stock Exchange on August4, 2020. The abbreviation of the bond:
Bengang Convertible Bond, the bondcode: 127018, and the number ofbonds listed: 6.8 billion yuan (68million pieces)
August 3, 2020
www.cninfo.com.cn
Announcement No.: 2020-053
Progress in the implementation of share repurchase
□ Applicable √ Not Applicable
Progress in the implementation of the reduction of shareholding shares by centralized competitivebidding
□ Applicable √ Not Applicable
III. The Under-Fulfillment Commitments by the End of the Period Made byActual Controller, Acquirer, Director, Supervisor, Senior ManagementPersonnel and other Related Parties.
√ Applicable □ Not applicable
Commitments
Commitmentparty
T
commitment
Contents
Commitmenttime
Commitmentperiod
Performance
| ype of | ||
| Commitment of shares |
reform
equity change report
| Commitment made in the acquisition report or the |
| Commitment made during |
asset restructuring
refinancing
Companydirectors,seniormanagement
Othercommitment
| Commitment made during initial public offering or | According to the relevant regulations of the China Securities Regulatory Commission, all directors and senior management of the Company have made the following commitments |
to the Company’
measures: 1. I promise
| to perform my duties faithfully and diligently, and safeguard the legitimate rights and interests of the Company and all shareholders . 2. I promise not to deliver benefits to other units or individuals without compensation or under |
unfair conditions, nor
May 22, 2019 Long term
Under n
| to use other means to | ormal |
fulfillment
restrict the position-
| related consumption behavior of company directors and senior management personnel. 4. I promise not to use |
the Company’
consumption act
| ivities that are not related to the performance of my duties. 5. Within the scope of my responsibilities and authority, I promise to make every effort to promote the company's board of directors or the remuneration system established by the |
remuneration an
company's
| compensation measures, and vote in favor of the relevant proposals reviewed by the company's board of directors and general meeting (If I have voting rights). 6. If the company |
inten
Company’
| s proposed equity incentive exercise conditions to be linked to |
the Company’
return measures,
| and to |
review the Company’
shareholders’
| general meetings and vote in favor of the relevant proposals reviewed by the company's board of directors and general meeting (If I have voting rights). 7. If the future issuance of this |
comm
Company’
| s public issuance of convertible corporate bonds are completed, if the China Securities Regulatory Commission makes other new regulatory provisions on the measures for filling returns and their |
commitments, and
Commission. The
| company's controlling shareholder, Benxi Iron and Steel (Group) Co., Ltd., promised not to |
Company's interests.
| interfere with the company's operation and management activities beyond its authority and not to infringe on the | ||
| Benxi Steel & Iron (Group) Co., Ltd. and |
Bengang
Ltd.
OtherCommitment
T
| Group Co., | he sales companies of Bengang International Trade Co.,Ltd. and Bengang Steel plates in the same region guarantee independent personnel, independent business, independent finance, and independent assets, and are guaranteed not to be in |
the same registration
qualification
| certification of raw material suppliers, customs import and export qualification |
certification, etc. In th
than 5 years fro
| m the date of issuance of this commitment, the main |
July 24,2019 Long term
fulfillment
during th
| is period, Bengang International Trade will provide the necessary support for the establishment and improvement of Bengang's import and export business. In addition, the sales company under Bengang International Trade is only responsible for |
selling the pr
third-
| party steel products. 3. The three sales companies under the Group, Shanghai Bengang Iron and Steel Sales Co., Ltd., Shanghai Bengang Iron and Steel Materials Co., Ltd., and |
Guangzhou Free Trade
an
bankruptcy
| administrator. After communication with the |
bankruptcy
comp
| leted by the end of 2020. Upon completion of the aforementioned bankruptcy liquidation procedures, the relevant procedures for cancellation of Shanghai Bengang Iron and Steel Sales Co., Ltd. will be handled immediately. (2) Shanghai Bengang Iron |
& Steel Ma
Shangha
| i Bengang Iron & Steel Materials Co., Ltd. was unable to convene a shareholders' meeting to cancel the company and establish a liquidation group according to law. |
bankruptcy a
| nd liquidation procedures of Shanghai Bengang Iron & Steel Sales Co., Ltd. are completed, the relevant procedures for cancellation of Shanghai Bengang Iron & Steel Materials Co., Ltd. will be processed immediately. (3) Guangzhou Free Trade |
Zone Bengang Sal
name of J
| iedong County Trading Corporation. However, due to serious local protection, property rights and other factors, the content of the judgment has not been enforceable. Later, after applying again from Guangzhou Free Trade Zone Bengang Sales Co., |
Ltd., the In
Corporation were re-
| sealed. As of February 4, 2022. Except for participating in the litigation activities for |
the purpo
Zone Bengang Sales Co
| ., Ltd. will be handled |
immediately.
Co., Ltd.
OtherCommitment
| Benxi Steel & Iron (Group) | The Group's horizontal competition with Benxi Steel Plates and the measures and commitments to avoid |
inter-industry
Bengang S
| teel Plates no longer produce or develop any products that compete or may compete with the products produced by |
July 24,2019 Long term
production
| line, and the |
industrycompetition
beencompletelyresolved.Othercommitments
| continue to be |
fulfilled
and its subsidiaries. 2
| . If Bengang Steel Plates and its subsidiaries further expand their business scope, the Group and other enterprises controlled by the Group will not compete with the expanded business of Bengang Steel Plates and its subsidiaries; they may |
compete with Beng
subsidiar
| ies; (2) Will compete The business is incorporated into Bengang Steel Plates and |
engage
| in or participate in the competition with |
Bengang Steel Plates’
an affirm
| ative answer is made to take advantage of the business opportunity, the Group |
will endeavor
violat
| ed, the Group is willing to bear all the responsibilities arising therefrom, and fully compensate or compensate for all direct or indirect losses caused to Bengang Steel Plates. 5. This letter of commitment continues to be effective during the |
period of th
be changed or withdrawn
Bengang
| Group Co., |
Ltd.
OtherCommitment
reduce the Company ’
| s transactions with controlling shareholders |
and other rel
Bengang Group
| Co., Ltd. (hereinafter collectively referred to as the "Group"), as a direct controlling shareholder and an indirect controlling shareholder of Bengang |
Steel Plates
protect the int
| erests of Bengang Steel Plates and other shareholders of Bengang Steel Plates, regulate The Group's related transaction with Bengang Steel Plates hereby promises: 1. The Group will fully respect the independent legal person status of Bengang |
Steel Plates,
decision-
| making of |
July 24,2019 Long term
fulfillment
of Bengang Steel Plates’
| business, asset integrity and personnel Independence and financial independence to avoid and reduce |
unnecessary relat
and its
| subsidiaries to repay debts, substitute funds or otherwise, nor We ask Bengang Steel Plates and its subsidiaries to provide illegal guarantees for the Group and other companies under its control. 3. The Group and other controlled companies and Bengang |
Ste
el Plates willminimize relatedtransactions. It is indeednecessary andunavoidable to carry outin the related partytransactions, strictly
implement the decision-
decision-making
| procedures, avoidance system and other |
contents stipulate
decision-
| making system, give full play to the role of the board of supervisors and independent directors, and earnestly fulfill the obligation of information disclosure To ensure that |
t
treatment
| to third parties in any fair market transaction Conditions to protect other shareholders of Benxi Steel Plates and the interests of Benxi Steel Plates from damage. 4. The Group guarantees that the above commitments are continuously effective |
and irrevocabl
Bengang Steel Plates.
| commitments occurs, the Group therefore bear all the losses caused to | ||
| Stock option incentive |
commitment
shareholders
Whether Commitmentfulfilled on time or not
Yes
IV. Financial Asset Investment
1. Investment in Securities
□ Applicable √ Not applicable
There are no securities investments in the reporting period.
2. Investment in Derivatives
□ Applicable √ Not applicable
There is no investment in derivatives in the reporting period.
V. Progress of Investment Projects with Raised Funds
√ Applicable □ Not applicable
1. Funds raised by non-public offering of shares
From the beginning of the year to the end of the reporting period, the company actually used RMB93,860,100 to raise funds. As of September 30, 2020, the unused amount of the company's raised fundswas 685,287,300, of which the supplementary working capital balance was 660 million, and the raisedfunds account balance was 25,287,300.
2. Public issuance of convertible bonds to raise funds
Approved by the China Securities Regulatory Commission on Approval of the Public Issuance of A-Share Convertible Corporate Bonds by Bengang Steel Plate Co., Ltd. (Zheng Jian Permit [2020] No. 46),the company was approved to publicly issue a total face value of 6.8 billion convertible bonds Corporatebonds with a maturity of 6 years. The company actually issued 68 million convertible corporate bondsto the public, each with a face value of 100 yuan, and the total raised funds were 6.8 billion yuan. Afterdeducting underwriting and sponsorship fees, issuance registration fees and other expenses, a total of41,084,701.18 yuan (excluding tax) was raised. The net amount of funds is RMB 6,758,915,298.82. Theabove funds have been transferred to the company's fund-raising account on July 6, 2020. BDO Shu Lun
Pan Certified Public Accountants LLP verified the receipt of the funds raised above and issued Xin KuaiShi Bao Zi [2020] No. ZB11494 "Capital Verification Report".As of the end of the reporting period, the company actually used the raised funds of RMB 2,425.36million. As of September 30, 2020, the unused amount of the company's raised funds was 4,332.81million, of which the supplementary working capital balance was 4,180 million, and the raised fundsaccount balance was 152.81 million.
VI. Forecast of 2020 Business PerformanceA warning and explanation of the reason for predicting that the cumulative net profit from the beginningof the year to the end of the next reporting period may be a loss or a significant change compared withthe same period of the previous year
□ Applicable √ Not applicable
VII. Major Contracts for Daily Operations
□ Applicable √ Not applicable
VIII. Entrusted Financial Management
□ Applicable √ Not applicable
There is no entrusted financial management in the reporting period.IX. Violation of Regulations in Provision of External Guaranty
□ Applicable √ Not applicable
There is no violation of regulations in provision of external guaranty during the reporting period.X. Illustrations of Non-Operating Occupation of Funds by the ControllingShareholder and Related Parties
□ Applicable √ Not applicable
There is no non-operating occupation of funds by the controlling shareholder and related parties.
XI. Registration form of Activities such as Research, Communication, Interviewin this Reporting Period
□ Applicable √ Not applicable
There is no researches, visits and interviews received in the reporting period.
IV. Financial Report
I. Financial Statements
1. CONSOLIDATED STATEMENT OF FINANCIAL POSITION
Prepared by: Bengang Steel Plates Co., Ltd.
Unit: YuanItems Sep 30
th , 2020 Dec 31
st
, 2019Current assets:
Cash at bank and on hand18,428,336,735.95
18,415,844,397.77
Settlement provisions
Capital lent
Financial assets held for trading
Derivative financial assets
Notes receivable
Accounts receivable237,139,957.62
235,696,265.66
Accounts receivable financing5,164,706,591.79
2,429,542,461.88
Prepayments1,251,892,309.68
1,291,047,458.11
Premium receivable
Reinsurance accounts receivable
Receivable deposit for reinsurancecontract
Other receivables:
170,756,516.11
172,807,036.77
Including: Interest receivables19,697,718.27
20,504,422.47
Dividend receivables
Redemptory financial assets for sale
Inventories9,481,415,336.65
7,700,397,685.61
Contract assets
Assets classified as held for sale
Non-current assets due within one year
Other current assets274,237,764.53
312,904,824.09
Total current assets35,008,485,212.33
30,558,240,129.89
Non-current assets:
Loan and advances issued
Debt investments
Other debt investments
Long-term receivables
Long-term equity investments2,642,998.70
2,642,998.70
Other equity instrument investments1,042,024,829.00
1,041,824,829.00
Other non-current financial assets
Investment properties
Fixed assets24,355,855,265.63
26,123,375,492.40
Construction in progress3,187,454,346.07
1,833,853,572.58
Productive biological assets
Oil and gas assets
Right of use assets
Intangible assets278,072,797.76
271,500,023.34
Development expenditure
Goodwill
Long-term deferred expenses
Deferred tax assets182,418,902.56
191,485,595.49
Other non-current assets1,143,710,464.79
708,502,552.50
Total non-current assets30,192,179,604.51
30,173,185,064.01
Total assets65,200,664,816.84
60,731,425,193.90
Current Liabilities:
Short-term loans10,971,919,000.00
13,151,478,000.00
Loan from central bank
Absorbed deposit and interbank deposit
Financial liabilities held for trading
Derivative financial liabilities
Notes payable9,755,186,320.32
11,828,514,676.95
Accounts payable5,650,489,113.68
4,527,513,030.27
Advance from customers
4,429,821,526.79
Contract Liabilities4,395,896,282.20
Financial assets sold for repurchase
Deposits from customers and interbank
Acting trading securities
Acting underwriting securities
Employee benefits payable64,817,798.23
23,698,174.56
Current tax liabilities16,033,518.47
284,825,814.80
Other payables685,226,321.42
662,701,744.97
Including: Interest payables26,573,361.30
10,818,986.30
Dividend payables
Handling charges and commissionpayable
Reinsurance accounts payable
Liabilities held for sale
Non-current liabilities due within oneyear
1,055,994,293.11
234,474,657.99
Other current liabilities
Total current liabilities32,595,562,647.43
35,143,027,626.33
Non-current liabilities:
Provision for insurance contract
Long-term loans3,917,863,991.04
4,849,675,910.73
Bonds payable5,647,525,812.18
Including: Preferred stock
Perpetual bond
Lease liabilities
Long-term payables1,390,036,449.50
516,939,408.14
Long-term employee benefits payables
Estimated liabilities
Deferred income174,010,233.06
208,955,407.30
Deferred tax liabilities
Other non-current liabilities
Total non-current liabilities11,129,436,485.78
5,575,570,726.17
Total liabilities43,724,999,133.21
40,718,598,352.50
Shareholders’ equity:
Share capital3,875,371,532.00
3,875,371,532.00
Other equity instruments1,146,290,662.42
Including: Preferred stock
Perpetual bond
Capital reserves12,343,209,847.29
12,343,209,847.29
Less: treasury shares
Other comprehensive income
Special reserves28,016,257.43
212,687.41
Surplus reserves961,105,529.85
961,105,529.85
General risk reserves
Undistributed profits2,591,274,953.72
2,307,765,664.62
Total equity attributable to equity holders ofthe parent company
20,945,268,782.71
19,487,665,261.17
Non-controlling interests530,396,900.92
525,161,580.23
Total shareholder’s equity21,475,665,683.63
20,012,826,841.40
Total liabilities and shareholder’s equity65,200,664,816.84
60,731,425,193.90
Legal Representative: Gao Lie Person in charge of accounting: Shen Qiang Accounting Dept. Leader: Zhao Zhonghua
2. STATEMENT OF FINANCIAL POSITION OF THE PARENT COMPANY
Unit: YuanItems Sep 30
th, 2020 Dec 31
st, 2019Current assets:
Cash at bank and on hand16,766,413,093.60
16,982,227,928.89
Financial assets held for trading
Derivative financial assets
Notes receivable
Accounts receivable374,165,618.46
388,997,108.46
Accounts receivable financing4,753,243,417.46
2,193,319,842.60
Prepayments1,151,892,309.68
1,184,632,345.13
Other receivables254,693,349.32
266,663,235.81
Including: Interest receivables19,697,718.27
19,658,230.77
Dividend receivables
Inventories7,835,149,045.38
6,114,582,832.33
Contract assets
Assets classified as held for sale
Non-current assets due within one year
Other current assets226,583,443.14
191,249,460.42
Total current assets31,362,140,277.04
27,321,672,753.64
Non-current assets:
Debt investments
Other debt investments
Long-term receivables
Long-term equity investments2,016,281,902.16
2,016,281,902.16
Other equity instrument investments1,041,624,829.00
1,041,624,829.00
Other non-current financial assets
Investment properties
Fixed assets22,851,496,439.85
24,447,763,305.12
Construction in progress3,119,248,726.75
1,813,889,136.42
Productive biological assets
Oil and gas assets
Right of use assets
Intangible assets183,630,437.72
145,470,040.68
Development expenditure
Goodwill
Long-term deferred expenses
Deferred tax assets84,273,622.44
93,555,276.54
Other non-current assets1,141,588,572.16
696,351,867.38
Total non-current assets30,438,144,530.08
30,254,936,357.30
Total assets61,800,284,807.12
57,576,609,110.94
Current Liabilities:
Short-term loans10,011,919,000.00
11,851,478,000.00
Financial assets held for trading
Derivative financial liabilities
Notes payable7,980,864,104.70
10,225,969,445.22
Accounts payable5,631,646,967.19
4,909,389,629.86
Advance from customers
5,597,707,687.22
Contract liabilities5,635,804,031.87
Employee benefits payable63,498,749.91
21,872,906.71
Current tax liabilities10,049,192.88
274,181,048.14
Other payables387,153,718.08
384,125,032.59
Including: Interest payables23,918,986.30
10,818,986.30
Dividend payables
Liabilities held for sale
Non-current liabilities due within one1,055,994,293.11
234,474,657.99
yearOther current liabilities
Total current liabilities30,776,930,057.74
33,499,198,407.73
Non-current liabilities:
Long-term loans3,917,863,991.04
4,849,675,910.73
Bonds payable5,647,525,812.18
Including: Preferred stock
Perpetual bond
Lease liabilities
Long-term payables1,390,036,449.50
516,939,408.14
Long-term employee benefits payable
Estimated liabilities
Deferred incomes174,010,233.06
208,955,407.30
Deferred tax liabilities
Other non-current liabilities
Total non-current liabilities11,129,436,485.78
5,575,570,726.17
Total liabilities41,906,366,543.52
39,074,769,133.90
Shareholders’ equity:
Share capital3,875,371,532.00
3,875,371,532.00
Other equity instruments1,146,290,662.42
Including: Preferred stock
Perpetual bond
Capital reserves11,923,058,165.17
11,923,058,165.17
Less: treasury shares
Other comprehensive income
Special reserves24,191,289.71
53,330.99
Surplus reserves961,105,529.85
961,105,529.85
Undistributed profits1,963,901,084.45
1,742,251,419.03
Total shareholder’s equity19,893,918,263.60
18,501,839,977.04
Total liabilities and shareholder’s equity61,800,284,807.12
57,576,609,110.94
3. CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME OF THE
CURRENT REPORTING PERIOD
Unit: YuanItems The Current Period The Previous Period
1. Total operating income
12,667,300,144.93
14,441,830,940.38
Including: Operating income12,667,300,144.93
14,441,830,940.38
Interest income
Premium earned
Income from handling chargesand commission
2. Total operating cost
12,682,362,775.14
14,421,363,860.63
Including: Operating cost12,169,624,645.87
13,739,273,641.14
Interest cost
Expenditure for handling chargesand commission
Surrender value
Net expenditure for compensation
Net provision for insurancecontract appropriated
Bonus payment for policy
Reinsurance premium
Taxes and surcharges53,364,357.78
60,775,436.14
Selling and distribution expenses255,130,098.08
257,155,173.90
General and administrativeexpenses
200,521,607.24
219,140,981.53
Research and developmentexpenses
9,059,465.61
7,306,019.67
Financial expenses-5,337,399.44
137,712,608.25
Including: interest expenses260,988,980.85
136,052,012.01
Interest incomes91,001,679.51
89,695,933.07
Add: Other incomes18,865,049.69
20,821,500.00
Income on investment ("-" for loss)77,242.47
Including: Income from associates andjoint ventures
Income from derecognition
of financial assets measured at amortised cost("-" for loss)
Exchange Income ("-" for loss)
Hedging income from net exposure (“-"for loss)
Gains from the change in fair value (“-"for loss)
Expected credit losses (“-" for loss)1,394,133.21
2,093,121.45
Asset impairment losses (“-" for loss)48,426,143.08
Assets disposal gains（“-” for loss）68,683.20
579,216.73
3. Operating profit ("-" for loss)
53,768,621.44
43,960,917.93
Add: Non-operating income604,118.24
1,506,324.18
Less: Non-operating expenses239,714.81
6,120,953.63
4. Total profit ("-" for loss)
54,133,024.87
39,346,288.48
Less: Income tax expenses22,372,416.47
4,904,499.90
5. Net Profit ("-" for loss)
31,760,608.40
34,441,788.58
(1) Classification by continuing
operating
1 Net profit from continuingoperation
31,760,608.40
34,441,788.58
2 Net profit from discontinuedoperation
(2) Classification by ownership
1 Net profit attributable to theowners of parent company
28,865,084.77
34,229,631.12
2 Net profit attributable to non-controlling shareholders
2,895,523.63
212,157.46
6. Other comprehensive income after tax
Other comprehensive income attributable toowners of parent company after tax
1) Other comprehensive income items
that will not be reclassified into gains/losses
(1) . Re-measurement of defined
benefit plans of changes in net debt or netassets
(2) . Other
under the equity method cannot be reclassifiedinto profit or loss
| comprehensive income |
(3). Changes of fair value of other
equity instrument investments
(4). Changes in the fair value of
the company's own credit risk
(5). Others
2) Other comprehensive income that will
be reclassified into profit or loss
(1) .
under the equity method can be reclassifiedinto profit or loss
| Other comprehensive income |
(2). Gains and losses from fair
value changes of other debt investments
(3). Gains and losses resulting
from reclassification of financial assetsrecognised in other comprehensive income
(4). Credit impairment losses of
other debt investments
(5). Effective portion of gains or
losses from cash flow hedging
(6). Translation differences in
foreign currency financial statements
(7). Others
Other comprehensive income attributable tonon-controlling shareholders after tax
7. Total comprehensive income
31,760,608.40
34,441,788.58
Total comprehensive income attributableto owners of parent company
28,865,084.77
34,229,631.12
Total comprehensive income attributableto non-controlling shareholders
2,895,523.63
212,157.46
8. Earnings per share:
1) Basic earnings per share
0.01
0.01
2) Diluted earnings per share
0.01
0.01
The current business combination under common control, the net profits of the combined party before achieved: Yuan, net profitof previous period of the combined party realized: Yuan.
Legal Representative: Gao Lie Person in charge of accounting: Shen Qiang Accounting Dept. Leader: Zhao Zhonghua
4. STATEMENT OF COMPREHENSIVE INCOME OF THE PARENT COMPANY OF
THE CURRENT REPORTING PERIOD
Unit: YuanItems The Current Period The Previous Period
1. Total operating income
13,000,555,008.97
14,566,987,831.66
Less: Operating cost12,660,551,211.93
14,024,765,556.43
Taxes and surcharges42,476,807.35
49,468,259.31
Selling and distribution expenses163,145,859.93
147,799,392.26
General and administrative expenses186,584,532.02
205,034,439.76
Research and development expenses9,059,465.61
7,306,019.67
Financial expenses-8,934,597.73
127,265,933.34
Including: interest expenses249,633,292.63
120,934,881.27
Interest incomes81,952,729.77
84,996,191.09
Add: Other incomes18,861,219.48
20,821,500.00
Income on investment ("-" for loss)77,242.47
27,594,915.42
Including: Income from associates andjoint ventures
Income from derecognitionof financial assets measured at amortised cost("-" for loss)
Hedging income from net exposure (“-"for loss)
Gains from the change in fair value (“-"for loss)
Expected credit losses (“-" for loss)1,394,133.21
1,245,121.45
Asset impairment losses (“-" for loss)48,426,143.08
Assets disposal gains（“-” for loss）68,683.20
579,216.73
2. Operating profit ("-" for loss)
16,499,151.30
55,588,984.49
Add: Non-operating income574,699.43
1,141,958.73
Less: Non-operating expenses226,440.47
6,116,261.39
3. Total profit ("-" for loss)
16,847,410.26
50,614,681.83
Less: Income tax expenses12,455,069.07
521,085.42
4. Net Profit ("-" for loss)
4,392,341.19
50,093,596.41
(1) Net profit from continuing operation
("-" for loss)
4,392,341.19
50,093,596.41
(2) Net profit from discontinued operation
("-" for loss)
5. Other comprehensive income after tax
1) Other comprehensive income items
that will not be reclassified into gains/losses
(1) . Re-measurement of defined
benefit plans of changes in net debt or net
assets
(2) .
under the equity method cannot be reclassifiedinto profit or loss
| Other comprehensive income |
(3). Changes of fair value of other
equity instrument investments
(4). Changes in the fair value of
the company's own credit risk
(5). Others
2) Other comprehensive income that will
be reclassified into profit or loss
(1) . Other
under the equity method can be reclassifiedinto profit or loss
| comprehensive income |
(2). Gains and losses from fair
value changes of other debt investments
(3). Gains and losses resulting
from reclassification of financial assetsrecognised in other comprehensive income
(4). Credit impairment losses of
other debt investments
(5). Effective portion of gains or
losses from cash flow hedging
(6). Translation differences in
foreign currency financial statements
(7). Others
6. Total comprehensive income
4,392,341.19
50,093,596.41
7. Earnings per share:
1) Basic earnings per share
2) Diluted earnings per share
5. CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME FROM THE
BEGINNING OF THE YEAR TO THE END OF THE CURRENT REPORTINGPERIOD
Unit: YuanItems The Current Period The Previous Period
1. Total operating income
34,851,837,404.98
38,544,426,107.52
Including: Operating income34,851,837,404.98
38,544,426,107.52
Interest income
Premium earned
Income from handling chargesand commission
2. Total operating cost
34,609,468,735.28
38,043,189,142.86
Including: Operating cost32,609,871,008.54
35,806,886,370.79
Interest cost
Expenditure for handling chargesand commission
Surrender value
Net expenditure for compensation
Net provision for insurancecontract appropriated
Bonus payment for policy
Reinsurance premium
Taxes and surcharges141,762,794.46
174,900,799.11
Selling and distribution expenses897,523,316.86
831,600,373.04
General and administrativeexpenses
581,349,923.65
665,908,793.30
Research and developmentexpenses
29,262,450.81
22,714,491.95
Financial expenses349,699,240.96
541,178,314.67
Including: interest expenses700,850,334.78
703,293,515.07
Interest incomes245,883,963.84
216,779,712.65
Add: Other incomes57,452,382.09
62,516,500.00
Income on investment ("-" for loss)106,546.47
25,907.49
Including: Income from associates andjoint ventures
Income from derecognitionof financial assets measured at amortised cost("-" for loss)
Exchange Income ("-" for loss)
Hedging income from net exposure (“-"for loss)
Gains from the change in fair value (“-"for loss)
Expected credit losses (“-" for loss)4,881,916.63
5,844,635.28
Asset impairment losses (“-" for loss)33,104,544.46
Assets disposal gains（“-” for loss）394,334.81
2,997,921.07
6. Operating profit ("-" for loss)
338,308,394.16
572,621,928.50
Add: Non-operating income1,744,482.36
9,716,506.42
Less: Non-operating expenses20,275,186.23
64,095,275.68
7. Total profit ("-" for loss)
319,777,690.29
518,243,159.24
Less: Income tax expenses31,610,231.55
30,866,681.63
8. Net Profit ("-" for loss)
288,167,458.74
487,376,477.61
(1) Classification by continuing
operating
1 Net profit from continuingoperation ("-" for loss)
288,167,458.74
487,376,477.61
2 Net profit from discontinuedoperation ("-" for loss)
(2) Classification by ownership
1 Net profit attributable to theowners of parent company
283,509,289.10
487,439,246.88
2 Net profit attributable to non-controlling shareholders
4,658,169.64
-62,769.27
6. Other comprehensive income after tax
Other comprehensive income attributable toowners of parent company after tax
1) Other comprehensive income items
that will not be reclassified into gains/losses
(1) . Re-measurement of defined
benefit plans of changes in net debt or netassets
(2) .
under the equity method cannot be reclassifiedinto profit or loss
| Other comprehensive income |
(3). Changes of fair value of other
equity instrument investments
(4). Changes in the fair value of
the company's own credit risk
(5). Others
2) Other comprehensive income that will
be reclassified into profit or loss
(1) . Other
under the equity method can be reclassifiedinto profit or loss
| comprehensive income |
(2). Gains and losses from fair
value changes of other debt investments
(3). Gains and losses resulting
from reclassification of financial assetsrecognised in other comprehensive income
(4). Credit impairment losses of
other debt investments
(5). Effective portion of gains or
losses from cash flow hedging
(6). Translation differences in
foreign currency financial statements
(7). Others
Other comprehensive income attributable tonon-controlling shareholders after tax
7. Total comprehensive income
288,167,458.74
487,376,477.61
Total comprehensive income attributableto owners of parent company
283,509,289.10
487,439,246.88
Total comprehensive income attributableto non-controlling shareholders
4,658,169.64
-62,769.27
8. Earnings per share:
1) Basic earnings per share
0.07
0.13
2) Diluted earnings per share
0.07
0.13
The current business combination under common control, the net profits of the combined party before achieved: Yuan, net profitof previous period of the combined party realized: Yuan.Legal Representative: Gao Lie Person in charge of accounting: Shen Qiang Accounting Dept. Leader: Zhao Zhonghua
6. STATEMENT OF COMPREHENSIVE INCOME OF THE PARENT COMPANY
FROM THE BEGINNING OF THE YEAR TO THE END OF THE CURRENTREPORTING PERIOD
Unit: YuanItems The Current Period The Previous Period
1. Total operating income
34,760,336,691.09
38,014,203,689.59
Less: Operating cost33,039,699,493.20
35,782,055,553.61
Taxes and surcharges116,717,589.70
133,935,663.72
Selling and distribution expenses550,078,792.86
482,893,940.32
General and administrative expenses541,211,684.30
647,086,930.06
Research and development expenses29,262,450.81
22,714,491.95
Financial expenses328,569,658.11
515,337,847.93
Including: interest expenses659,897,744.52
659,441,927.72
Interest incomes223,250,379.61
199,185,818.03
Add: Other incomes56,863,565.01
62,516,500.00
Income on investment ("-" for loss)77,242.47
27,594,915.42
Including: Income from associates andjoint ventures
Income from derecognitionof financial assets measured at amortised cost("-" for loss)
Hedging income from net exposure (“-"for loss)
Gains from the change in fair value (“-"for loss)
Expected credit losses (“-" for loss)4,022,071.94
4,996,635.28
Asset impairment losses (“-" for loss)33,104,544.46
Assets disposal gains（“-” for loss）394,334.81
3,044,923.32
2. Operating profit ("-" for loss)
249,258,780.80
551,046,727.97
Add: Non-operating income1,386,359.30
9,279,999.48
Less: Non-operating expenses19,713,820.58
64,051,443.56
3. Total profit ("-" for loss)
230,931,319.52
496,275,283.89
Less: Income tax expenses9,281,654.10
15,830,148.17
4. Net Profit ("-" for loss)
221,649,665.42
480,445,135.72
(1) Net profit from continuing operation
("-" for loss)
221,649,665.42
480,445,135.72
(2) Net profit from discontinued operation
("-" for loss)
5. Other comprehensive income after tax
1) Other comprehensive income items
that will not be reclassified into gains/losses
(1) . Re-measurement of defined
benefit plans of changes in net debt or net
assets
(2) .
under the equity method cannot be reclassifiedinto profit or loss
| Other comprehensive income |
(3). Changes of fair value of other
equity instrument investments
(4). Changes in the fair value of
the company's own credit risk
(5). Others
2) Other comprehensive income that will
be reclassified into profit or loss
(1) . Other
under the equity method can be reclassifiedinto profit or loss
| comprehensive income |
(2). Gains and losses from fair
value changes of other debt investments
(3). Gains and losses resulting
from reclassification of financial assetsrecognised in other comprehensive income
(4). Credit impairment losses of
other debt investments
(5). Effective portion of gains or
losses from cash flow hedging
(6). Translation differences in
foreign currency financial statements
(7). Others
6. Total comprehensive income
221,649,665.42
480,445,135.72
7. Earnings per share:
1) Basic earnings per share
2) Diluted earnings per share
7. CONSOLIDATED STATEMENT OF CASH FLOWS FROM THE BEGINNING OF
THE YEAR TO THE END OF THE CURRENT PERIOD
Unit: YuanItems The Current Period The Previous Period
1. Cash flow from operating activities:
Cash received from sale of goods or25,444,022,450.66
26,790,594,559.41
rendering of servicesNet increase of customers’ deposit andinterbank deposit
Net increase of loan from central bank
Net increase of loans from otherfinancial institutions
Cash received for premium of originalinsurance contract
Net cash received for reinsurancebusiness
Net increase of deposit and investmentof the insured
Net increase of Financial assets at fairvalue through profit or loss
Cash from receiving interest, handlingcharge and commission
Net increase of loans from otherfinancial institutions
Net increase of fund for buy-backbusiness
Tax rebate received387,294,316.80
330,537,134.71
Other cash received relating tooperating activities
168,025,766.48
179,458,663.12
Subtotal of cash inflow received fromoperation activities
25,999,342,533.94
27,300,590,357.24
Cash paid for goods and services24,909,229,260.23
16,361,584,571.18
Net increase of customer’s loan andadvances
Net increase of deposit in central bankand interbank deposit
Cash for payment of compensation fororiginal insurance contract
Net increase in funds lent
Cash for payment of interest, handlingcharge and commission
Cash for payment of policy bonus
Cash paid to and on behalf ofemployees
1,408,629,415.56
1,450,655,474.24
Cash paid for all types of taxes758,524,302.98
911,658,861.03
Other cash paid relating to operatingactivities
330,588,899.59
351,573,590.15
Subtotal of cash outflow received fromoperation activities
27,406,971,878.36
19,075,472,496.60
Net cash flows generated from operatingactivities
-1,407,629,344.42
8,225,117,860.64
2. Cash flows from investing activities:
Cash received from return oninvestments
Cash received from distribution ofdividends or profit
Net cash received from disposal offixed assets, intangible assets and other long-term assets
Net cash received from disposal ofsubsidiary and other operating units
Other cash paid relating to investingactivities
Subtotal of cash inflow received frominvesting activities
Cash paid for acquisition of fixedassets, intangible assets and other long-termassets
1,765,038,590.65
5,012,911,837.02
Cash paid for acquisition of investments
Net increase of mortgage loan
Net cash received from subsidiary andother operating unit
Other cash paid relating to investingactivities
Subtotal of cash outflows from investingactivities
1,765,038,590.65
5,012,911,837.02
The net cash flow generated by investmentactivities
-1,765,038,590.65
-5,012,911,837.02
3. Cash flows from financing activities:
Proceeds from investment
Including: Proceeds from investment ofnon-controlling shareholders of subsidiary
Proceeds from borrowings9,297,194,000.00
7,482,429,000.00
Other proceeds relating to financingactivities
6,800,000,000.00
| Subtotal cash inflow received from financing |
activities
16,097,194,000.00
7,482,429,000.00
Cash repayments of borrowings11,555,411,601.25
6,938,475,606.71
Cash payments for distribution ofdividends, profit or interest expenses
956,166,264.68
1,194,142,072.60
Including: Cash paid to non-controllingshareholders as dividend and profit bysubsidiaries
Other cash payments relating tofinancing activities
43,549,783.25
Subtotal of cash outflows from financingactivities
12,555,127,649.18
8,132,617,679.31
The net cash flow generated by financingactivities
3,542,066,350.82
-650,188,679.31
| 4. Effect of foreign exchange rate changes on |
cash and cash equivalents
-12,482,658.90
57,000,333.44
5. Net increase in cash and cash equivalents
356,915,756.85
2,619,017,677.75
Add: Cash and cash equivalents at thebeginning of the period
13,441,414,988.58
11,752,548,621.97
| 6. Cash and cash equivalents at the ending of |
the period
13,798,330,745.43
14,371,566,299.72
8. STATEMENT OF CASH FLOWS OF THE PARENT COMPANY FROM THE
BEGINNING OF THE YEAR TO THE END OF THE CURRENT PERIOD
Unit: YuanItems The Current Period The Previous Period
1.Cash flow from operating activities:
Cash received from sale of goods orrendering of services
24,484,591,411.24
25,300,199,068.22
Tax rebate received324,249,789.72
284,437,850.97
Other cash received relating tooperating activities
163,745,932.07
174,941,066.19
Subtotal of cash inflow received fromoperation activities
24,972,587,133.03
25,759,577,985.38
Cash paid for goods and services24,410,006,721.64
14,731,205,692.56
Cash paid to and on behalf ofemployees
1,344,314,670.02
1,371,069,525.86
Cash paid for all types of taxes660,630,096.94
789,815,447.75
Other cash paid relating to operatingactivities
291,312,691.44
310,224,763.98
Subtotal of cash outflow received fromoperation activities
26,706,264,180.04
17,202,315,430.15
Net cash flows generated from operatingactivities
-1,733,677,047.01
8,557,262,555.23
2. Cash flows from investing activities:
Cash received from return oninvestments
27,594,915.42
Cash received from distribution ofdividends or profit
Net cash received from disposal offixed assets, intangible assets and other long-term assets
Net cash received from disposal ofsubsidiary and other operating units
Other cash paid relating to investingactivities
Subtotal of cash inflow received frominvesting activities
27,594,915.42
Cash paid for acquisition of fixedassets, intangible assets and other long-termassets
1,746,442,503.88
5,006,076,777.58
Cash paid for acquisition of investments
Net cash received from subsidiary andother operating unit
Other cash paid relating to investingactivities
Subtotal of cash outflows from investingactivities
1,746,442,503.88
5,006,076,777.58
The net cash flow generated by investmentactivities
-1,746,442,503.88
-4,978,481,862.16
3. Cash flows from financing activities:
Proceeds from investment
Proceeds from borrowings8,237,194,000.00
6,282,429,000.00
Other proceeds relating to financingactivities
6,800,000,000.00
| Subtotal cash inflow received from financing |
activities
15,037,194,000.00
6,282,429,000.00
Cash repayments of borrowings10,155,411,601.25
5,438,545,606.71
Cash payments for distribution ofdividends, profit or interest expenses
917,902,736.92
1,112,682,499.61
Other cash payments relating tofinancing activities
43,549,783.25
Subtotal of cash outflows from financingactivities
11,116,864,121.42
6,551,228,106.32
The net cash flow generated by financingactivities
3,920,329,878.58
-268,799,106.32
4. Effect of foreign exchange rate
cash and cash equivalents
-12,477,383.25
| changes on |
56,922,645.03
5. Net increase in cash and cash equivalents
427,732,944.44
3,366,904,231.78
Add: Cash and cash equivalents at thebeginning of the period
13,029,616,298.47
10,807,824,843.20
6. Cash and cash equivalents at the ending
| of |
the period
13,457,349,242.91
14,174,729,074.98
II. Adjustments of Financial Statements
1. Adjustments of beginning balance due to the first-time implementation of the new
revenue standards and new lease standards from 2020
√ Applicable □ Not applicable
Whether to adjust the balance sheet accounts at the beginning of the year
√ Applicable □ Not applicable
CONSOLIDATED STATEMENT OF FINANCIAL POSITION
Unit: yuanItems Dec 31
st
,2019 Jan 1
st
, 2020 Adjustment amountCurrent assets:
Cash at bank and on hand18,415,844,397.77
18,415,844,397.77
Settlement provisions
Capital lent
Financial assets held for trading
Derivative financial assets
Notes receivable
Accounts receivable235,696,265.66
235,696,265.66
Accounts receivable financing2,429,542,461.88
2,429,542,461.88
Prepayments1,291,047,458.11
1,291,047,458.11
Premium receivable
Reinsurance accounts receivable
Receivable deposit forreinsurance contract
Other receivables:
172,807,036.77
172,807,036.77
Including: Interest receivables20,504,422.47
20,504,422.47
Dividend receivables
Redemptory financial assets forsale
Inventories7,700,397,685.61
7,700,397,685.61
Contract assets
Assets classified as held for sale
Non-current assets due withinone year
Other current assets312,904,824.09
312,904,824.09
Total current assets30,558,240,129.89
30,558,240,129.89
Non-current assets:
Loan and advances issued
Debt investments
Other debt investments
Long-term receivables
Long-term equity investments2,642,998.70
2,642,998.70
Other equity instrumentinvestments
1,041,824,829.00
1,041,824,829.00
Other non-current financial assets
Investment properties
Fixed assets26,123,375,492.40
26,123,375,492.40
Construction in progress1,833,853,572.58
1,833,853,572.58
Productive biological assets
Oil and gas assets
Right of use assets
Intangible assets271,500,023.34
271,500,023.34
Development expenditure
Goodwill
Long-term deferred expenses
Deferred tax assets191,485,595.49
191,485,595.49
Other non-current assets708,502,552.50
708,502,552.50
Total non-current assets30,173,185,064.01
30,173,185,064.01
Total assets60,731,425,193.90
60,731,425,193.90
Current Liabilities:
Short-term loans13,151,478,000.00
13,151,478,000.00
Loan from central bank
Absorbed deposit and interbankdeposit
Financial liabilities held fortrading
Derivative financial liabilities
Note payables11,828,514,676.95
11,828,514,676.95
Account payables4,527,513,030.27
4,527,513,030.27
Advance from customers4,429,821,526.79
-4,429,821,526.79
Contract liabilities
4,429,821,526.79
4,429,821,526.79
Financial assets sold forrepurchase
Deposits from customers andinterbank
Acting trading securities
Acting underwriting securities
Employee benefits payable23,698,174.56
23,698,174.56
Current tax liabilities284,825,814.80
284,825,814.80
Other payables662,701,744.97
662,701,744.97
Including: Interest payables10,818,986.30
10,818,986.30
Dividend payables
Handling charges andcommission payable
Reinsurance accounts payable
Liabilities held for sale
Non-current liabilities due withinone year
234,474,657.99
234,474,657.99
Other current liabilities
Total current liabilities35,143,027,626.33
35,143,027,626.33
Non-current liabilities:
Provision for insurance contract
Long-term loans4,849,675,910.73
4,849,675,910.73
Bonds payable
Including: Preferred stock
Perpetual bond
Lease liabilities
Long-term payables516,939,408.14
516,939,408.14
Long-term employee benefitspayables
Estimated liabilities
Deferred income208,955,407.30
208,955,407.30
Deferred tax liabilities
Other non-current liabilities
Total non-current liabilities5,575,570,726.17
5,575,570,726.17
Total liabilities40,718,598,352.50
40,718,598,352.50
Shareholders’ equity:
Share capital3,875,371,532.00
3,875,371,532.00
Other equity instruments
Including: Preferred stock
Perpetual bond
Capital reserves12,343,209,847.29
12,343,209,847.29
Less: treasury shares
Other comprehensive income
Special reserves212,687.41
212,687.41
Surplus reserves961,105,529.85
961,105,529.85
General risk reserves
Undistributed profits2,307,765,664.62
2,307,765,664.62
Total equity attributable to equityholders of the parent company
19,487,665,261.17
19,487,665,261.17
Non-controlling interests525,161,580.23
525,161,580.23
Total shareholder’s equity20,012,826,841.40
20,012,826,841.40
Total liabilities and shareholder’sequity
60,731,425,193.90
60,731,425,193.90
Notes:
None
STATEMENOT OF FINANCIAL POSITION OF THE PARENT COMPANY
Unit: YuanItems Dec 31
st, 2019 Jan 1
st
, 2020 Adjustment amountCurrent assets:
Cash at bank and on hand16,982,227,928.89
16,982,227,928.89
Financial assets held for trading
Derivative financial assets
Notes receivable
Accounts receivable388,997,108.46
388,997,108.46
Accounts receivable financing2,193,319,842.60
2,193,319,842.60
Prepayments1,184,632,345.13
1,184,632,345.13
Other receivables266,663,235.81
266,663,235.81
Including: Interest receivables19,658,230.77
19,658,230.77
Dividend receivables
Inventories6,114,582,832.33
6,114,582,832.33
Contract assets
Assets classified as held for sale
Non-current assets due within one year
Other current assets191,249,460.42
191,249,460.42
Total current assets27,321,672,753.64
27,321,672,753.64
Non-current assets:
Debt investments
Other debt investments
Long-term receivables
Long-term equity investments2,016,281,902.16
2,016,281,902.16
Other equity instrument investments1,041,624,829.00
1,041,624,829.00
Other non-current financial assets
Investment properties
Fixed assets24,447,763,305.12
24,447,763,305.12
Construction in progress1,813,889,136.42
1,813,889,136.42
Productive biological assets
Oil and gas assets
Right of use assets
Intangible assets145,470,040.68
145,470,040.68
Development expenditure
Goodwill
Long-term deferred expenses
Deferred tax assets93,555,276.54
93,555,276.54
Other non-current assets696,351,867.38
696,351,867.38
Total non-current assets30,254,936,357.30
30,254,936,357.30
Total assets57,576,609,110.94
57,576,609,110.94
Current Liabilities:
Short-term loans11,851,478,000.00
11,851,478,000.00
Financial assets held for trading
Derivative financial liabilities
Notes payable10,225,969,445.22
10,225,969,445.22
Accounts payable4,909,389,629.86
4,909,389,629.86
Advance from customers5,597,707,687.22
-
Contract liabilities
5,597,707,687.22
| 5,597,707,687.22 |
Employee benefits payable21,872,906.71
21,872,906.71
Current tax liabilities274,181,048.14
274,181,048.14
Other payables384,125,032.59
384,125,032.59
Including: Interest payables10,818,986.30
Dividend payables
Liabilities held for sale
Non-current liabilities due within one year234,474,657.99
234,474,657.99
Other current liabilities
Total current liabilities33,499,198,407.73
33,499,198,407.73
Non-current liabilities:
Long-term loans4,849,675,910.73
4,849,675,910.73
Bonds payable
Including: Preferred stock
Perpetual bond
Lease liabilities
Long-term payables516,939,408.14
516,939,408.14
Long-term employee benefits payable
Estimated liabilities
Deferred incomes208,955,407.30
208,955,407.30
Deferred tax liabilities
Other non-current liabilities
Total non-current liabilities5,575,570,726.17
5,575,570,726.17
Total liabilities39,074,769,133.90
39,074,769,133.90
Shareholders’ equity:
Share capital3,875,371,532.00
3,875,371,532.00
Other equity instruments
Including: Preferred stock
Perpetual bond
Capital reserves11,923,058,165.17
11,923,058,165.17
Less: treasury shares
Other comprehensive income
Special reserves53,330.99
53,330.99
Surplus reserves961,105,529.85
961,105,529.85
Undistributed profits1,742,251,419.03
1,742,251,419.03
Total shareholder’s equity18,501,839,977.04
18,501,839,977.04
Total liabilities and shareholder’s equity57,576,609,110.94
57,576,609,110.94
Notes:
None
2. Retroactive adjustment due to the first time implementation of the new revenue
standards and new lease standards
□ Applicable √ Not applicable
III. Audit reportWhether the third quarter report is audited
□ Yes √ No
The third quarter report is not audited.