CSG HOLDING CO., LTD.
THE FIRST QUARTER REPORT 2016
Chairman of the Board:
ZENG NAN
April 2016
CSG HOLDING CO., LTD. The First Quarter Report 2016
Section I Important Notice
Board of Directors and the Supervisory Committee of CSG Holding Co., Ltd. (hereinafter referred
to as the Company) and its directors, supervisors and senior executives hereby confirm that there
are no any fictitious statements, misleading statements, or important omissions carried in this report,
and shall take all responsibilities, individual and/or joint, for the facticity, accuracy and
completeness of the whole contents.
All directors were present the meeting of the Board for deliberating the First Quarter Report of the
Company in person.
Mr. Zeng Nan, Chairman of the Board, CFO Mr. Luo Youming and principal of the financial
department Mr. Ding Jiuru confirm that the Financial Report enclosed in the First Quarter Report
2016 is true, accurate and complete.
This report is prepared both in Chinese and English. Should there be any inconsistency between the
Chinese and English versions, the Chinese version shall prevail.
1
CSG HOLDING CO., LTD. The First Quarter Report 2016
Section II Main accounting data and Changes in Shareholders
I. Main accounting data and indices
Whether it has retroactive adjustment or re-statement on previous accounting data for accounting policy changed and accounting
error correction or not
□Yes √ No
The 1st quarter of 2016 The 1st quarter of 2015 Percentage of change (%)
Operating income (RMB) 1,949,421,848 1,539,206,800 26.65%
Net profit attributable to shareholders of
204,835,467 82,201,310 149.19%
the listed company(RMB)
Net profit attributable to shareholders of
the listed company after deducting 192,098,876 29,979,957 540.76%
non-recurring gains and losses(RMB)
Net cash flow arising from operating
319,915,324 37,738,405 747.72%
activities(RMB)
Basic earnings per share (RMB/Share) 0.10 0.04 150%
Diluted earnings per share (RMB/Share) 0.10 0.04 150%
Increased 1.59
Weighted average ROE (%) 2.57% 0.98%
percentage points
31 March 2016 31 December 2015 Percentage of change (%)
Total assets (RMB) 15,205,208,277 15,489,600,160 -1.84%
Net assets attributable to shareholder of
8,078,112,020 7,874,310,997 2.59%
listed company(RMB)
Items and amounts of extraordinary profit (gains)/losses
√Applicable □ Not applicable
Unit: RMB
Amount from beginning of
Item the year to the end of the Note
report period
Gains/losses from the disposal of non-current asset (including the
216,691
write-off that accrued for impairment of assets)
Governmental subsidy reckoned into current gains/losses (not
including the subsidy enjoyed in quota or ration according to
13,650,894
national standards, which are closely relevant to enterprise’s
business)
2
CSG HOLDING CO., LTD. The First Quarter Report 2016
Other non-operating income and expenditure except for the
1,126,971
aforementioned items
Other gains/losses satisfied definition of extraordinary profit
--
(gains)/loss
Less: Impact on income tax 2,257,965
Impact on minority shareholders’ equity (post-tax) --
Total 12,736,591 --
Explain reasons for the extraordinary profit (gain)/loss defined by Q&A Announcement No.1 on Information Disclosure for
Companies Offering Their Securities to the Public --- Extraordinary Profit/loss, and the items defined as recurring profit (gain)/loss
according to the lists of extraordinary profit (gain)/loss in Q&A Announcement No.1 on Information Disclosure for Companies
Offering Their Securities to the Public --- Extraordinary Profit/loss
□Applicable √Not applicable
It did not exist that items defined as recurring profit (gain)/loss according to the lists of extraordinary profit (gain)/loss in Q&A
Announcement No.1 on Information Disclosure for Companies Offering Their Securities to the Public --- Extraordinary Profit/loss.
II. Total of shareholders at the end of the report period and particulars about the shares held
by the top ten shareholders
1. Total of shareholders at the end of the report period and particulars about the shares held by the top ten
shareholders
Unit: Share
Total of shareholders at the end of the report period 149,329
Particulars about shares held by the top ten shareholders
Amount of Number of share
Proportion
Nature of Amount of restricted pledged/frozen
Name of shareholder of shares
shareholder shares held shares Amoun
held (%) Share status
held t
Domestic non
Foresea Life Insurance Co., Ltd. – Haili Niannian state-owned legal 14.10% 292,612,866 0
person
Domestic non
Foresea Life Insurance Co., Ltd. – universal
state-owned legal 3.92% 81,405,744 0
insurance products
person
State-owned legal
China Northern Industries Corporation 3.62% 75,167,934 0
person
Domestic non
Shenzhen Jushenghua Co., Ltd. state-owned legal 2.87% 59,552,120 0
person
Foresea Life Insurance Co., Ltd. –own fund Domestic non 2.15% 44,519,788 0
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CSG HOLDING CO., LTD. The First Quarter Report 2016
state-owned legal
person
State-owned legal
Central Huijin Investment Ltd. 1.92% 39,811,300 0
person
Domestic non
Shen International Holdings (Shenzhen) Co., Ltd. state-owned legal 1.78% 37,040,200 0
person
China Galaxy International Securities (H.K.) Co., Foreign legal
1.38% 28,685,412 0
Ltd. person
State-owned legal
China Merchants Securities Hong Kong Co., Ltd. 1.35% 27,996,704 0
person
Domestic non
China Securities Finance Corporation state-owned legal 1.27% 26,357,447 0
person
Particular about top ten shareholders with un-restrict shares held
Amount of un-restrict shares Type of shares
Shareholders’ name
held at Period-end Type Amount
Foresea Life Insurance Co., Ltd. – Haili Niannian 292,612,866 RMB ordinary shares 292,612,866
Foresea Life Insurance Co., Ltd. – universal insurance
81,405,744 RMB ordinary shares 81,405,744
products
China Northern Industries Corporation 75,167,934 RMB ordinary shares 75,167,934
Shenzhen Jushenghua Co., Ltd. 59,552,120 RMB ordinary shares 59,552,120
Foresea Life Insurance Co., Ltd. –own fund 44,519,788 RMB ordinary shares 44,519,788
Central Huijin Investment Ltd. 39,811,300 RMB ordinary shares 39,811,300
Shen International Holdings (Shenzhen) Co., Ltd. 37,040,200 RMB ordinary shares 37,040,200
Domestically listed
China Galaxy International Securities (H.K.) Co., Ltd. 28,685,412 28,685,412
foreign shares
Domestically listed
China Merchants Securities Hong Kong Co., Ltd. 27,996,704 27,996,704
foreign shares
China Securities Finance Corporation 26,357,447 RMB ordinary shares 26,357,447
Among shareholders as listed above, Foresea Life Insurance Co.,
Ltd.-Haili Niannian, Foresea Life Insurance Co., Ltd.-universal
insurance products, Foresea Life Insurance Co., Ltd.-own fund are all
Statement on associated relationship or consistent action held by Foresea Life Insurance Co., Ltd.. Shenzhen Jushenghua Co.,
among the above shareholders: Ltd. is a related legal person of Foresea Life Insurance Co., Ltd. and
Chengtai Group Co., Ltd., another related legal person of Foresea Life
Insurance Co., Ltd, which held 27,625,299 shares via China Galaxy
International Securities (H.K.) Co., Ltd.
4
CSG HOLDING CO., LTD. The First Quarter Report 2016
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 shareholders involving margin business The Company’s shareholder, Shenzhen Jushenghua Co., Ltd., held
(if applicable) 59,552,120 shares in total with 0 share in its general account and
59,552,120 shares via the client credit trading guarantee account of
China Galaxy Securities Co., Ltd. There was no change of shares held
by Shenzhen Jushenghua Co., Ltd. during the report period.
Whether top ten common shareholders or top ten common shareholders with un-restrict shares held had a buy-back agreement
dealing in the report period
□ Yes √ No
The top ten common shareholders or top ten common shareholders with un-restrict shares held of the Company had no buy-back
agreement dealing in the report period.
5
CSG HOLDING CO., LTD. The First Quarter Report 2016
Section III Important Events
I. Particulars and explanations about significant changes in main accounting statement and
financial indexes
√Applicable □ Not applicable
Unit: RMB 0,000
Note 31 March 2016 31 December 2015 Amount of change Percentage of change
Monetary capital (1) 24,571 57,883 -33,312 -58%
Notes receivable (2) 25,111 45,355 -20,244 -45%
Accounts receivable (3) 60,286 45,296 14,990 33%
Long-term receivables (4) 10,227 5,010 5,217 104%
Employees’ wage payable (5) 10,724 17,054 -6,330 -37%
Tax payable (6) 7,975 11,983 -4,008 -33%
Interest payable (7) 11,904 8,936 2,968 33%
Non-current liability due in (8) 14,100 23,900 -9,800 -41%
1 year
Minority equity (9) 0 308 -308 -100%
Note Jan.-Mar.2016 Jan.-Mar.2015 Amount of change Percentage of change
Income tax expenses (10) 2,756 127 2,629 2070%
Net profit (11) 20,484 8,981 11,503 128%
Other comprehensive (12)
-13 5,953 -5,966 -100%
income after tax
Note:
(1)Monetary capital decreased mainly because the cash received from selling the shares of Golden Glass in December of last year
increased.
(2)Notes receivable decreased mainly because some subsidiaries changed the terms of payment and collection of matured bills.
(3)Accounts receivable increased mainly because the payback period of centralized delivery of architectural glass goods after the
Spring Festival has not been due.
(4) Long-term receivables increased mainly because the finance lease receivables of Shenzhen CSG Display Technology Co., Ltd.
increased.
(5) Employees’ wage payable decreased mainly because the year-end bonus for employees accrued at the end of last year was paid in
the report period.
(6) Tax payable decreased mainly because tax for selling shares of Golden Glass in Dec. 2015 was paid in the report period.
6
CSG HOLDING CO., LTD. The First Quarter Report 2016
(7) Interest payable increased mainly because payment for short-term financing bills, ultra-short-term financing bills and medium
term notes has not been paid for they were not due yet.
(8)Non-current liability due in 1 year decreased mainly because part of the borrowing has been repaid in the report period.
(9) Minority equity decreased mainly because minority equity was bought back and the balance in previous period was low.
(10) Income tax expenses increased mainly because profit increased in the report period.
(11) Net profit increased mainly because earnings of solar PV industry significantly increased.
(12) Other comprehensive income after tax decreased mainly because the Company’ available-for-sale financial assets of last year
has been sold out.
II. Analysis and explanation of the progress of significant events and their influence and
solutions
√Applicable □ Not applicable
1. Plan of non-public offering of A-share
Disclosu Disclosure
Summary of item Interim announcement
re date website
Proposals of non-public offering of A-share to specific "Announcement of the interim meeting
investors etc. were deliberated and approved by the interim resolution of the seventh board of directors"
meeting of the 7th session of the Board on 22 April 2015. "Announcement of the interim meeting
The Company planned to exercise equity financing by resolution of the seventh board of
means of non-public offering of A-share. The total amount supervisors"
of non-public offering of A-share was 179,977,502 shares, "Non-public offering of A-share plan"
112,485,939 shares of which was specifically issued to
" Feasibility Analysis Report about the
Foresea Life Insurance Co., Ltd. with one billion yuan in Juchao website
raised fund use of Non-public offering of
cash , and 67,491,563 shares of which was specifically (http://www.cni
A-share"
issued to China Northern Industries Corporation with 0.6 nfo.com.cn)
"Announcement of related transactions
billion yuan in cash. 2015-4- Announcement
involved in non-public offering of A-share"
The A shares subscribed by China Northern Industries 23 No.: 2015-019
"Indicative announcement of changes in
Corporation and Foresea Life Insurance Co., Ltd. in this 2015-020
shareholders' equity"
plan are not allowed to be transferred within 36 months 2015-021
"Report about the use of previous raised
from the listing date.
2015-022
funds"
Pricing benchmark is the announcement day of board
"Valid share subscription agreement subject
resolution for this issue. The offering price is RMB
to conditions between the Company and
8.89/share, no less than 90% of the average trading price of
Foresea Life Insurance Co., Ltd."
20 trading days before pricing benchmark. Offering price
will be adjusted if issues such as dividends, bonus shares, "Valid share subscription agreement subject
capital reserve and other ex dividend issues occurred before to conditions between the company and
offering. China Northern Industries Corporation"
Proposal of adjusting period of validity for the resolution of "Announcement of the interim meeting Juchao website
the non-public offering of A-share plan and period of resolution of the seventh board of directors" 2015-6- (http://www.cni
validity which the general meeting of shareholders "Announcement of the interim meeting 16 nfo.com.cn)
authorized the Board to deal with all the specific issues resolution of the seventh board of Announcement
7
CSG HOLDING CO., LTD. The First Quarter Report 2016
associated with the non-public offering of A-share was supervisors" No.: 2015-033
th
deliberated and approved by the interim meeting of the 7 "Report about the use and authentication of 2015-035
Board of Directors on 15 June 2015.The Board agreed to the previous raised funds "
adjust period of validity for the resolution of the non-public
offering of A-share plan and adjust period of validity which
the general meeting of shareholders authorized the Board to
deal with all the specific issues associated with the
non-public offering of A-share. The period of validity
changed to 12 months commencing from the date on which
the relevant resolution is approved at general meeting
instead of the original 18 months commencing from that
date.
Juchao website
Relevant items of the non-public offering of A-share had
" Announcement of the resolution of the (http://www.cni
been considered and approved at the first extraordinary 2015-7-
first extraordinary general meeting of nfo.com.cn)
general meeting of shareholders in 2015 convened by the 3
shareholders in 2015" Announcement
Company on 2 July 2015.
No.: 2015-038
Juchao website
"Announcement of the acceptance of
(http://www.cni
Application for non-public offering of A-share was application for non-public offering of 2015-8-
nfo.com.cn)
accepted by China Securities Regulatory Commission A-share by China Securities Regulatory 18
Announcement
Commission "
No.: 2015-046
Juchao website
The Company’s non-public offering of A-share received "Announcement of receipt of ‘Notice
(http://www.cni
"Notice about review and feedback to administrative about review and feedback to administrative 2015-11
nfo.com.cn)
permissive projects from China Securities Regulatory permissive projects from China Securities -13
Announcement
Commission" Regulatory Commission’ "
No.: 2015-058
"Announcement of the reply to feedback of
the Company’s application documents for
Juchao website
non-public offering of A-share "
(http://www.cni
"Commitment about not reducing holding 2015-12
Reply to feedback of the Company’s application documents nfo.com.cn)
shares by Foresea Life Insurance Co., Ltd." -8
for non-public offering of A-share Announcement
" Commitment about not reducing holding
No.: 2015-059
shares by China North Industries
Corporation"
The 13th meeting of the seventh board of directors of the "Announcement of the resolution of the 13th Juchao website
Company deliberated and approved the proposal of diluting meeting of the seventh board of directors" (http://www.cni
the immediate return because of non-public offering of "Announcement of diluting the immediate 2016-4- nfo.com.cn)
shares and measures to mitigate the influence as well as the return because of non-public offering of 16 Announcement
proposal of the directors and senior management shares and measures to mitigate the No.: 2016-018
personnel’s commitments about diluting the immediate influence as well as the relevant personnel’s
8
CSG HOLDING CO., LTD. The First Quarter Report 2016
return because of non-public offering of shares and commitments" 2016-019
measures to mitigate the influence. The Company analyzed "Announcement of the commitments about
the impact of immediate return dilution of the non-public diluting the immediate return because of 2016-020
offering of shares, put forward the specific measures to non-public offering of shares and measures
mitigate the influence, and relevant personnel of the to mitigate the influence which were made
Company made commitments to effectively fulfill the by the relevant personnel of CSG Holding
measures for filling in return. Co., Ltd.
The item of non-public offering of A-share is still subject to approval from China Securities Regulatory Commission and other
related authorities.
2. Ultra-short-term financing bills
On 10 December 2014, the First Extraordinary Shareholders’ General Meeting 2014 of CSG Holding Co., Ltd deliberated and
approved the proposal of application for registration and issuance of ultra-short-term financing bills with registered capital of RMB 4
billion at most and validity within 2 years. On 21 May 2015, National Association of Financial Market Institutional Investors
(NAFMII) held the 32nd registration meeting of 2015, in which NAFMII decided to accept the registration of the Company’s
ultra-short-term financing bills, amounting to RMB 4 billion and valid for two years. China Merchants Bank Co., Ltd., Shanghai
Pudong Development Bank Co., Ltd., Industrial Bank Co., Ltd., China CITIC Bank Co., Ltd. and China Agriculture Bank Co., Ltd.
were joint lead underwriters of these ultra-short-term financing bills, which could be issued by stages within period of validity of the
registration. On 12 June 2015, the Company issued the first batch of ultra-short-term financing bills for the year of 2015 with total
amount of RMB 0.8 billion and valid term of 270 days at the issuance rate of 4.25%, which was redeemed on 11 March 2016. On 13
October 2015, the Company issued the second batch of ultra-short-term financing bills for the year of 2015 with total amount of
RMB 1.1 billion and valid term of 270 days at the issuance rate of 3.81%, which will be redeemed on 11 July 2016. On 10 March
2016, the Company issued the first batch of ultra-short-term financing bills for the year of 2016 with total amount of RMB 0.8 billion
and valid term of 270 days at the issuance rate of 3.15%, which will be redeemed on 6 December 2016.
For details, please refer to www.chinabond.com.cn and www.chinamoney.com.cn.
3. Perpetual bonds
On 23 March 2016, the 12th meeting of the seventh board of directors of CSG Holding Co., Ltd. deliberated and approved the
proposal of application for registration and issuance of perpetual bonds, and agreed the Company to register and issue perpetual
bonds with total amount of RMB 3.1 billion which could be issued by several times within the validity period of registration
according to the Company’s actual demand for funds and the capital status of inter-bank market. Details can be found in
"Announcement of the resolution of the 12th meeting of the seventh board of directors", the announcement number of which is
2016-009. The above proposal was deliberated and approved by 2015 annual general meeting of shareholders held on April 15, 2016.
4. Medium-term notes
On 23 March 2016, the 12th meeting of the seventh board of directors of CSG Holding Co., Ltd. deliberated and approved the
proposal of application for registration and issuance of medium-term notes, and agreed the Company to register and issue
medium-term notes with total amount of RMB 0.8 billion which could be issued by several times within the validity period of
registration according to the Company’s actual demand for funds and the capital status of inter-bank market. Details can be found in
"Announcement of the resolution of the 12th meeting of the seventh board of directors", the announcement number of which is
2016-009. The above proposal was deliberated and approved by 2015 annual general meeting of shareholders held on April 15, 2016.
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CSG HOLDING CO., LTD. The First Quarter Report 2016
5. Progress of PV power plant project
On 11 January 2016, the 11th meeting of the seventh board of directors of CSG Holding Co., Ltd. deliberated and approved the
proposal of investment project of PV power plant. The Company plans to invest in the construction of PV power plants during
2016-2017 with total investment amount of RMB 1.5 billion, 200MW of which will be self-built by Shenzhen CSG PV Energy Co.,
Ltd., a wholly-owned subsidiary of the Company. 140MW will be built by cooperating with Kibing Group with total investment
amount of about RMB 1 billion. Details can be found in "Announcement of the resolution of the 12th meeting of the seventh board of
directors", the announcement number of which is 2016-006. On 15 January 2016, the Company and Kibing Group jointly set up
Zhangzhou CSG and Qibin PV Energy Co., Ltd. which engaged in solar power plant development business, and the registered capital
was RMB 150 million, 112.5 million of which was subscribed by CSG, accounting for 75% of the registered capital. On 1 February
2016, Xianning CSG PV power plant project was formally contracted which planned to invest in the construction of PV surface
power plant in Xianning.
III. Commitments made by the Company or shareholders holding above 5% shares of the
Company in reporting period or extending to reporting period.
√Applicable □ Not applicable
Type of Commit-m Commit- Implement-
Commitments Promisee Content of commitments
commitments ent date ment term ation
The Company has implemented share
merger reform in May 2006. Till June
2008, the share of the original
non-tradable shareholders which
holding over 5% total shares of the
Company had all released. Therein, the
original non-tradable shareholder
The original
Shenzhen International Holdings (SZ) By the end of
non-tradable
Limited and Xin Tong Chan Industrial the report
shareholder
Development (Shenzhen) Co., Ltd. both period, the
Shenzhen
are wholly-funded subsidiaries to above
Commitments International
Commitment Shenzhen International Holdings shareholders
for Holdings (SZ)
of share Limited (hereinafter Shenzhen 2006-5-22 N/A of the
Share Merger Limited and Xin
reduciton International for short) listed in Hong Company had
Reform Tong Chan
Kong united stock exchange main strictly carried
Industrial
board. Shenzhen International made out their
Development
commitment that it would strictly carry promises.
(Shenzhen) Co.,
out related regulations of Securities
Ltd.
Law, Administration of the Takeover of
Listed Companies Procedures and
Guiding Opinions on the Listed
Companies’ Transfer of Original Shares
Released from Trading Restrictions
issued by CSRC during implementing
share decreasingly-held plan and take
10
CSG HOLDING CO., LTD. The First Quarter Report 2016
information disclosure responsibility
timely.
Foresea Life Insurance Co., Ltd.,
By the end of
Shenzhen Jushenghua Co., Ltd. and
During the report
Chengtai Group Co., Ltd. issued
Commitment the period period, the
detailed report of equity change on 29
Foresea Life of horizontal when above
June 2015, in which, they undertook to
Commitments in Insurance Co., competition, Foresea shareholders
keep independent from CSG in aspects
report of Ltd,, Shenzhen affiliate Life of the
of personnel, assets, finance, 2015-6-29
acquisition or Jushenghua Co., Transaction remains Company had
organization set-up and business as long
equity change Ltd. and Chengtai and the largest strictly carried
as Foresea Life Insurance remained the
Group Co., Ltd. capital sharehold out their
largest shareholder of CSG. Meanwhile,
occupation er of the promises.
they made commitment on regularizing
Company
related transaction and avoiding
industry competition.
Commitments in
assets
reorganization
By the end of
within six the report
The Company’s shareholders, Foresea months period, the
Foresea Life Life Insurance Co., Ltd.and China after above
Commitments in
Insurance Co., Commitment North Industries Corporation, made private shareholders
initial public 2015-11-2
Ltd., China North of share commitments that they would not placement of the
offering or 5
Industries reduciton reduce CSG's shares within six months of CSG Company had
re-financing
Corporation after private placement of CSG from from strictly carried
Nov. 25, 2015. Nov. 25, out their
2015 promises.
Equity incentive
commitment
By the end of
the report
within six
The Company’s shareholders, Foresea period, the
months
Foresea Life Life Insurance Co., Ltd.and China above
Other after
Insurance Co., Commitment North Industries Corporation, made shareholders
commitments 2015-07-1 private
for medium and Ltd., China North of share commitments that they would not of the
small 5 placement
Industries reduciton reduce CSG's shares within six months Company had
shareholders of CSG
Corporation after private placement of CSG from strictly carried
from July
July 15, 2015. out their
15, 2015
promises.
11
CSG HOLDING CO., LTD. The First Quarter Report 2016
Completed on
Yes
time(Y/N)
If the
commitments is
not fulfilled on
Not applicable
time, explain the
reasons and the
next work plan
IV. Predict of the business performance from January to June 2016
Warnings and reasons of the predict that the cumulative net profit from the begin of the year to the end of next report period may be
loss or have great changes comparing with the same period of last year
□Applicable √ Not applicable
V. Securities Investment
□ Applicable √ Not applicable
There was no securities investment in the report period.
VI. Derivative investment
□ Applicable √ Not applicable
There was no derivative investment in the report period.
VII. Registration form for receiving research, communication and interview in the report
period
√Applicable □ Not applicable
Time Way Type Basic information index of investigation
Details can be found in the Record Chart of the Investor Relation Activity disclosed on
2016-2-23 Field research Institute
Juchao website(www.cninfo.com.cn) on 24 February 2016.
Details can be found in the Record Chart of the Investor Relation Activity disclosed on
2016-3-30 Field research Institute
Juchao website(www.cninfo.com.cn) on 30 March 2016.
VIII. Illegal external guarantee
□ Applicable √ Not applicable
IX. Particular about non-operating fund of listed company which is occupied by controlling
shareholder and its affiliated enterprises
□ Applicable √ Not applicable
12
CSG HOLDING CO., LTD. The First Quarter Report 2016
Section IV Financial Report
I. Financial Statements
I. Financial Statements
Prepared by CSG Holding Co., Ltd.
Unit: RMB
Items Ending balance Beginning balance
Current asset:
Monetary capital 245,712,194 578,834,520
Settlement provision
Outgoing call loan
Financial assets measured at fair value
of which changes are recorded in
current profits and losses
Derivative financial assets
Notes receivable 251,114,039 453,546,538
Account receivable 602,855,652 452,961,612
Prepayment 135,408,997 109,841,295
Insurance receivable
Reinsurance receivable
Provisions of Reinsurance contracts
receivable
Interest receivable
Dividend receivable
Other account receivable 124,455,153 116,224,370
Repurchasing of financial assets
Inventories 403,671,651 350,425,732
Assets held for sale
Non-current asset due in 1 year
Other current asset 101,990,100 118,359,117
Total of current asset 1,865,207,786 2,180,193,184
Non-current assets
Disburse of consigned loans
13
CSG HOLDING CO., LTD. The First Quarter Report 2016
Available-for-sale financial asset
Expired investment in possess
Long-term receivable 102,269,800 50,104,299
Long-term share equity investment 680,249,715 668,210,253
Investment real estates
Fixed assets 10,301,826,428 10,199,674,929
Construction in process 1,201,808,989 1,339,340,780
Engineering goods
Fixed asset disposal
Production physical assets
Gas & petrol
Intangible assets 836,800,889 846,238,811
R&D expense 26,526,375 26,280,426
Goodwill 3,039,946 3,039,946
Long-term amortizable expenses 1,342,611 1,597,865
Differed income tax asset 102,685,426 110,336,216
Other non-current asset 83,450,312 64,583,451
Total of non-current assets 13,340,000,491 13,309,406,976
Total of assets 15,205,208,277 15,489,600,160
Current liabilities
Short-term loans 3,031,519,183 3,216,326,670
Loan from Central Bank
Deposit received and hold for others
Call loan received
Financial liabilities measured at fair
value of which changes are recorded in
current profits and losses
Derivative financial liabilities
Notes payable 8,000,000 8,000,000
Account payable 839,922,441 915,266,051
Prepayment received 106,731,013 117,434,636
Selling of repurchased financial assets
Fees and commissions receivable
Employees’ wage payable 107,236,160 170,539,613
14
CSG HOLDING CO., LTD. The First Quarter Report 2016
Tax payable 79,753,343 119,826,177
Interest payable 119,039,823 89,363,806
Dividend payable
Other account payable 106,144,437 143,021,055
Reinsurance fee payable
Insurance contract provision
Entrusted trading of securities
Entrusted selling of securities
Liabilities held for sale
Non-current liability due in 1 year 141,000,000 239,000,000
Other current liability 300,000 300,000
Total of current liability 4,539,646,400 5,019,078,008
Non-current liabilities
Long-term borrowings 1,200,000,000 1,200,000,000
Bond payable 1,000,000,000 1,000,000,000
Of which: preferred shares
Perpetual bonds
Long-term payable
Long-term payroll payables
Special payable
Anticipated liabilities
Deferred income 378,226,610 383,599,103
Differed income tax liability 9,223,247 9,531,572
Other non-recurring liabilities
Total of non-current liabilities 2,587,449,857 2,593,130,675
Total of liability 7,127,096,257 7,612,208,683
Owners’ equity (or shareholders’
equity)
Capital paid in (or share capital) 2,075,335,560 2,075,335,560
Other equity instruments
Of which: preferred shares
Perpetual bonds
Capital reserves 1,260,299,935 1,261,391,272
Less: Shares in stock
15
CSG HOLDING CO., LTD. The First Quarter Report 2016
Other comprehensive income 2,838,925 2,967,772
Special reserves 15,623,238 15,437,498
Surplus reserves 881,972,330 881,972,330
Common risk provision
Retained profit 3,842,042,032 3,637,206,565
Total of owner’s equity belong to the
8,078,112,020 7,874,310,997
parent company
Minor shareholders’ equity 3,080,480
Total of owners’ equity (or
8,078,112,020 7,877,391,477
shareholders’ equity)
Total of liability and shareholders’
15,205,208,277 15,489,600,160
equity (or owners’ equity)
Legal Representative：Zeng Nan CFO：Luo Youming Manager of the financial department：Ding Jiuru
2. Balance Sheet of the Parent Company
Unit: RMB
Items Ending balance Beginning balance
Current asset:
Monetary capital 122,749,686 395,798,393
Financial assets measured at fair value
of which changes are recorded in
current profits and losses
Derivative financial assets
Notes receivable
Account receivable
Prepayment 492,191 492,191
Interest receivable
Dividend receivable
Other account receivable 4,501,543,794 4,283,715,036
Inventories
Assets held for sale
Non-current asset due in 1 year
Other current asset
Total of current asset 4,624,785,671 4,680,005,620
16
CSG HOLDING CO., LTD. The First Quarter Report 2016
Non-current assets
Available-for-sale financial asset
Expired investment in possess
Long-term receivable 2,173,645,000 2,139,873,923
Long-term share equity investment 4,374,031,988 4,337,777,738
Investment real estates
Fixed assets 29,360,287 30,806,106
Construction in process
Engineering goods
Fixed asset disposal
Production physical assets
Gas & petrol
Intangible assets 1,651,087 1,762,037
R&D expense
Goodwill
Long-term amortizable expenses 670,680 894,241
Differed income tax asset
Other non-current asset
Total of non-current assets 6,579,359,042 6,511,114,045
Total of assets 11,204,144,713 11,191,119,665
Current liabilities
Short-term loans 2,900,000,000 2,900,000,000
Financial liabilities measured at fair
value of which changes are recorded in
current profits and losses
Derivative financial liabilities
Notes payable
Account payable
Prepayment received
Employees’ wage payable 19,303,054 38,240,000
Tax payable 10,799,626 39,469,245
Interest payable 64,960,791 79,906,647
Dividend payable
Other account payable 245,866,978 295,421,165
17
CSG HOLDING CO., LTD. The First Quarter Report 2016
Liabilities held for sale
Non-current liability due in 1 year 141,000,000 239,000,000
Other current liability
Total of current liability 3,381,930,449 3,592,037,057
Non-current liabilities
Long-term borrowings 1,200,000,000 1,200,000,000
Bond payable 1,000,000,000 1,000,000,000
Of which: preferred shares
Perpetual bonds
Long-term payable
Long-term payroll payables
Special payable
Anticipated liabilities
Deferred income 10,166,610 10,543,800
Differed income tax liability
Other non-recurring liabilities
Total of non-current liabilities 2,210,166,610 2,210,543,800
Total of liability 5,592,097,059 5,802,580,857
Owners’ equity (or shareholders’
equity)
Capital paid in (or share capital) 2,075,335,560 2,075,335,560
Other equity instruments
Of which: preferred shares
Perpetual bonds
Capital reserves 1,404,984,933 1,404,803,407
Less: Shares in stock
Other comprehensive income
Special reserves
Surplus reserves 896,517,690 896,517,690
Retained profit 1,235,209,471 1,011,882,151
Total of owners’ equity (or
5,612,047,654 5,388,538,808
shareholders’ equity)
Total of liability and shareholders’
11,204,144,713 11,191,119,665
equity (or owners’ equity)
18
CSG HOLDING CO., LTD. The First Quarter Report 2016
3. Consolidated Income Statement
Unit: RMB
Items Balance of this period Balance of last period
I. Total revenue 1,949,421,848 1,539,206,800
Incl. Business income 1,949,421,848 1,539,206,800
Interest income
Insurance fee earned
Fee and commission received
II. Total business cost 1,743,978,936 1,483,814,575
Incl. Business cost 1,436,818,441 1,219,078,366
Interest expense
Fee and commission paid
Insurance discharge payment
Net claim amount paid
Net insurance policy reserves provided
Insurance policy dividend paid
Reinsurance expenses
Business tax and surcharge 10,040,837 5,465,909
Sales expense 59,556,544 65,898,919
Administrative expense 169,343,405 133,870,454
Financial expenses 64,997,957 56,173,221
Asset impairment loss 3,221,752 3,327,706
Plus: gains from change of fair value
(“-“for loss)
Investment gains (“-“ for loss) 11,958,319 16,725,566
Incl. Investment gains from affiliates
Exchange gains (“-“ for loss)
III. Operational profit (“-“ for loss) 217,401,231 72,117,791
Plus: non-operational income 15,411,111 18,971,646
Including: Gains on disposal of
225,914 2,854,584
non-current assets
Less: non-operational expenditure 416,555 13,059
Incl. Loss from disposal of non-current
9,223 7,282
assets
19
CSG HOLDING CO., LTD. The First Quarter Report 2016
IV. Gross profit (“-“ for loss) 232,395,787 91,076,378
Less: Income tax expenses 27,560,320 1,265,071
V. Net profit (“-“ for net loss) 204,835,467 89,811,307
Net profit attributable to the owners of
204,835,467 82,201,310
parent company
Minor shareholders’ equity 0 7,609,997
VI. After-tax net amount of other
-128,847 59,528,906
comprehensive incomes
After-tax net amount of other
comprehensive incomes attributable to -128,847 59,749,912
owners of the Company
(I) Other comprehensive incomes that
will not be reclassified into gains and
losses
1. Changes in net liabilities or assets with
a defined benefit plan upon
re-measurement
2. Enjoyable shares in other
comprehensive incomes in investees that
cannot be reclassified into gains and
losses under the equity method
(II) Other comprehensive incomes that
-128,847 59,749,912
will be reclassified into gains and losses
1. Enjoyable shares in other
comprehensive incomes in investees that
will be reclassified into gains and losses
under the equity method
2. Gains and losses on fair value changes
60,138,670
of available-for-sale financial assets
3. Gains and losses on reclassifying
held-to-maturity investments into
available-for-sale financial assets
4. Effective hedging gains and losses on
cash flows
5. Foreign-currency financial statement
-128,847 -388,758
translation difference
6. Other
After-tax net amount of other
-221,006
comprehensive incomes attributable to
20
CSG HOLDING CO., LTD. The First Quarter Report 2016
minority shareholders
VII. Total comprehensive incomes 204,706,620 149,340,213
Attributable to owners of the Company 204,706,620 141,951,222
Attributable to minority shareholders 7,388,991
VIII. Earnings per share
(I) Basic earnings per share 0.10 0.04
(II) Diluted earnings per share 0.10 0.04
Legal Representative：Zeng Nan CFO：Luo Youming Manager of the financial department：Ding Jiuru
4. Income Statement of the Parent Company
Unit: RMB
Items Balance of this period Balance of last period
I. Turnover 1,077,394 0
Less: Operation cost 60,334 0
Business tax and surcharge
Sales expense
Administrative expense 25,162,566 7,070,729
Financial expenses 4,988,307 32,205,941
Asset impairment loss 581 2,168
Plus: gains from change of fair value
(“-“ for loss)
Investment gains (“-“ for loss) 252,072,724 18,173,520
Incl. Investment gains from affiliates
II. Operational profit (“-“ for loss) 222,938,330 -21,105,318
Plus: Non business income 388,990 790,176
Including: Gains on disposal of
1,800
non-current assets
Less: Non-business expenses
Incl. Loss from disposal of non-current
assets
III. Total profit (“-“ for loss) 223,327,320 -20,315,142
Less: Income tax expenses -13,277,740
IV.Net profit (“-“ for net loss) 223,327,320 -7,037,402
V. After-tax net amount of other 59,392,364
21
CSG HOLDING CO., LTD. The First Quarter Report 2016
comprehensive incomes
(I) Other comprehensive incomes that
will not be reclassified into gains and
losses
1. Changes in net liabilities or assets
with a defined benefit plan upon
re-measurement
2. Enjoyable shares in other
comprehensive incomes in investees
that cannot be reclassified into gains
and losses under the equity method
(II) Other comprehensive incomes that
59,392,364
will be reclassified into gains and losses
1. Enjoyable shares in other
comprehensive incomes in investees
that will be reclassified into gains and
losses under the equity method
2. Gains and losses on fair value
changes of available-for-sale financial 59,392,364
assets
3. Gains and losses on reclassifying
held-to-maturity investments into
available-for-sale financial assets
4. Effective hedging gains and losses on
cash flows
5. Foreign-currency financial statement
translation difference
6. Other
VI. Total comprehensive incomes 223,327,320 52,354,962
VII. Earnings per share
(I) Basic earnings per share
(II) Diluted earnings per share
5. Consolidated Cash Flow Statement
Unit: RMB
Items Balance of this period Balance of last period
I. Net cash flow from business
operation
22
CSG HOLDING CO., LTD. The First Quarter Report 2016
Cash received from sales of products
2,229,364,142 1,638,344,300
and providing of services
Net increase of customer deposits and
capital kept for brother company
Net increase of loans from central bank
Net increase of inter-bank loans from
other financial bodies
Cash received against original
insurance contract
Net cash received from reinsurance
business
Net increase of client deposit and
investment
Net increase of disposal of financial
assets measured at fair value of which
changes are recorded into current gains
and losses
Cash received as interest, processing
fee, and commission
Net increase of inter-bank fund
received
Net increase of repurchasing business
Tax returned 28,911,814 2,825,244
Other cash received from business
22,694,131 14,219,488
operation
Sub-total of cash inflow from business
2,280,970,087 1,655,389,032
activities
Cash paid for purchasing of
1,388,087,175 1,137,589,502
merchandise and services
Net increase of client trade and
advance
Net increase of savings in central bank
and brother company
Cash paid for original contract claim
Cash paid for interest, processing fee
and commission
Cash paid for policy dividend
Cash paid to staffs or paid for staffs 297,229,533 258,205,741
23
CSG HOLDING CO., LTD. The First Quarter Report 2016
Taxes paid 153,311,525 111,806,996
Other cash paid for business activities 122,426,530 110,048,388
Sub-total of cash outflow from
1,961,054,763 1,617,650,627
business activities
Cash flow generated by business
319,915,324 37,738,405
operation, net
II. Cash flow generated by investing
Cash received from investment
91,792,420
retrieving
Cash received as investment profit
Net cash retrieved from disposal of
fixed assets, intangible assets, and 349,679 2,654,139
other long-term assets
Net cash received from disposal of
subsidiaries or other operational units
Other investment-related cash received 7,932,500 1,832,684
Sub-total of cash inflow due to
8,282,179 96,279,243
investment activities
Cash paid for construction of fixed
assets, intangible assets and other 261,541,527 320,005,251
long-term assets
Cash paid as investment 4,250,000
Net increase of loan against pledge
Net cash received from subsidiaries
and other operational units
Other cash paid for investment
26,209,845 672,760
activities
Sub-total of cash outflow due to
292,001,372 320,678,011
investment activities
Net cash flow generated by investment -283,719,193 -224,398,768
III. Cash flow generated by financing
Cash received as investment
Incl. Cash received as investment from
minor shareholders
Cash received as loans 1,510,000,000 1,053,352,855
Cash received from bond placing
Other financing-related cash received 4,673,351
24
CSG HOLDING CO., LTD. The First Quarter Report 2016
Subtotal of cash inflow from financing
1,514,673,351 1,053,352,855
activities
Cash to repay debts 1,792,807,487 839,142,536
Cash paid as dividend, profit, or
35,300,685 48,991,916
interests
Incl. Dividend and profit paid by
subsidiaries to minor shareholders
Other cash paid for financing activities 52,390,268 92,208
Subtotal of cash outflow due to
1,880,498,440 888,226,660
financing activities
Net cash flow generated by financing -365,825,089 165,126,195
IV. Influence of exchange rate
alternation on cash and cash -617,441 -1,248,106
equivalents
V. Net increase of cash and cash
-330,246,399 -22,782,274
equivalents
Plus: Balance of cash and cash
574,744,877 156,838,261
equivalents at the beginning of term
VI. Balance of cash and cash
244,498,478 134,055,987
equivalents at the end of term
6. Cash Flow Statement of the Parent Company
Unit: RMB
Items Balance of this period Balance of last period
I. Net cash flow from business
operation
Cash received from sales of products
and providing of services
Tax returned
Other cash received from business
1,780,456 943,126
operation
Sub-total of cash inflow from business
1,780,456 943,126
activities
Cash paid for purchasing of
merchandise and services
Cash paid to staffs or paid for staffs 41,544,408 45,642,137
Taxes paid 28,561,794 69,646
25
CSG HOLDING CO., LTD. The First Quarter Report 2016
Other cash paid for business activities 2,185,694 1,490,598
Sub-total of cash outflow from
72,291,896 47,202,381
business activities
Cash flow generated by business
-70,511,440 -46,259,255
operation, net
II. Cash flow generated by investing
Cash received from investment
83,721,977
retrieving
Cash received as investment profit 216,000,000 2,970,186
Net cash retrieved from disposal of
fixed assets, intangible assets, and
other long-term assets
Net cash received from disposal of
1,800
subsidiaries or other operational units
Other investment-related cash received
Sub-total of cash inflow due to
216,001,800 86,692,163
investment activities
Cash paid for construction of fixed
assets, intangible assets and other 2,779 207,220
long-term assets
Cash paid as investment 791,650
Net cash received from subsidiaries
and other operational units
Other cash paid for investment
20,000
activities
Sub-total of cash outflow due to
2,779 1,018,870
investment activities
Net cash flow generated by investment 215,999,021 85,673,293
III. Cash flow generated by financing
Cash received as investment
Cash received as loans 1,510,000,000 859,296,702
Cash received from bond placing
Other financing-related cash received
Subtotal of cash inflow from financing
1,510,000,000 859,296,702
activities
Cash to repay debts 1,608,000,000 744,796,702
Cash paid as dividend, profit, or 20,353,809 32,690,865
26
CSG HOLDING CO., LTD. The First Quarter Report 2016
interests
Other cash paid for financing activities 300,158,056 128,891,119
Subtotal of cash outflow due to
1,928,511,865 906,378,686
financing activities
Net cash flow generated by financing -418,511,865 -47,081,984
IV. Influence of exchange rate
alternation on cash and cash -34,496 -16,868
equivalents
V. Net increase of cash and cash
-273,058,780 -7,684,814
equivalents
Plus: Balance of cash and cash
394,606,753 67,898,286
equivalents at the beginning of term
VI. Balance of cash and cash
121,547,973 60,213,472
equivalents at the end 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.
25 April 2016
27
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