Report for First Quarter of 2025
Stock Code: 600057 Stock Abbreviation: Xiamen
Xiangyu
Xiamen Xiangyu Co. Ltd.Report for First Quarter of 2025
The Board of Directors and all Directors of the Company shall guarantee that there is no
false recordation misleading statement or material omission in contents of this
Announcement and shall assume the legal liability for authenticity accuracy and
completeness of such contents.Notes to Important Items:
The Board of directors the Board of Supervisors as well as Directors Supervisors and Senior
Management of the Company shall guarantee the authenticity accuracy and completeness of
the contents of the Quarterly Report without any false recordation misleading statement or
material omission and shall assume the joint and several legal liabilities.The person in charge of the Company the person in charge of financial affairs and the leading
member of the accounting body (the person in charge of accounting) shall guarantee the
authenticity accuracy and completeness of the financial information in the Quarterly Report.Whether the financial statements for the first quarter are audited or not
□Yes √No
I. Key financial data
(1) Key accounting data and financial indicators
Unit: million Yuan Currency: RMB
Current reporting
Item The same period last year Changes on a YoY basis (%)
period
Operating revenue 97134.80 104568.01 -7.11
Net profit attributable to 509.06 407.65 24.88
This report is prepared in both Chinese and English. The Chinese version shall prevail in case of any
discrepancy between the Chinese and English texts.Report for First Quarter of 2025
shareholders of the listed
company
Net profit attributable to
shareholders of the listed
135.11 -10.26 Not applicable
company after deducting the
non-recurring profit and loss
Net cash flow from operating
-9193.10 -11357.79 Not applicable
activities
Basic earnings per share
0.170.1513.33
(Yuan/share)
Diluted earnings per share
0.170.1513.33
(Yuan/share)
Weighted average return on
2.73 2.19 Increased by 0.54pp
equity (%)
At the end of reporting Changes compared to the
At the end of last year
period end of last year (%)
Total assets 132658.48 123872.66 7.09
Owner’s equity attributable to
the shareholders of the listed 28200.03 23821.81 18.38
company
Remark:
The net profit attributable to shareholders of the listed company in the above table during the
reporting period includes the interest of RMB 103 million attributable to perpetual bond holders
during the reporting period. After deduction the net profit attributable to shareholders of the
listed company during the reporting period is RMB 406 million. Perpetual bonds and interest
were deducted when calculating the above-mentioned major financial indicators such as basic
earnings per share diluted earnings per share and weighted average return on equity.
(2) Non-recurring profit and loss items and amounts thereof
√Applicable □Not Applicable
Unit: Yuan Currency: RMB
Amount in current
Non-recurring profit and loss items Remark
reporting period
The disposal gains and losses of
non-current assets including the reversal 153799.07
of previously recognized asset
This report is prepared in both Chinese and English. The Chinese version shall prevail in case of any
discrepancy between the Chinese and English texts.Report for First Quarter of 2025
impairment provisions
The government subsidies (except for
those closely related to the Company’s
normal business operations in line with
national policies and continuously 184396504.36
available at certain standard quota or
ration) included in the current profit and
loss
Mainly including the changes in fair
value recognized in profit or loss and
Except for the effective hedging business
the gains and losses on disposal
related to the Company’s normal
arising from the hedging against the
business operations the changes in fair
fluctuation in commodity price and
value recognized in profit or loss derived
exchange rate by the Company with
from holding financial assets and financial 384284048.73
futures instrument and foreign
liabilities by non-financial enterprises and
exchange contract in order to
the gains and losses arising from the
support the spot operation of the
disposal of financial assets and financial
main business which are closely
liabilities
related to the operating profit and
loss of the main business.Capital occupation fees charged to
non-financial enterprises included in 49384790.44
current profit and loss
Reversal of the impairment provision for
receivables of which the impairment tests 3913272.12
are carried out separately
Trustee fee from entrusted operations 1686320.79
Other non-operating incomes and
39054836.50
expenses than those mentioned above
Minus: Amount of income tax effect 157562827.85
Amount of minority equity effect
131352312.82
(after tax)
Total 373958431.34
For items not listed in the Explanatory Announcement on Information Disclosure for Companies
Offering Securities to the Public No.1 - Non-recurring Gains and Losses but defined as
non-recurring gains or losses by the Company with material amount as well as the
non-recurring profit and loss items listed in Explanatory Announcement on Information
Disclosure for Companies Offering Securities to the Public No.1 - Non-recurring Gains and
Losses but defined as recurring gains and losses by the Company explanations should be
provided.□Applicable √Not Applicable
This report is prepared in both Chinese and English. The Chinese version shall prevail in case of any
discrepancy between the Chinese and English texts.Report for First Quarter of 2025
(3) The circumstances and causes for occurrence of changes in the key accounting data and
financial indicators
√Applicable □Not Applicable
Proportion of
Name of item Main cause
change (%)
Mainly due to the YoY increase in the net profit
attributable to the shareholders of the listed company:
during the reporting period the company's business
Net profit attributable to operated steadily and its performance showed a positive
shareholders of the listed trend. The risk management optimization measures
company after deducting the Not applicable achieved a significant progress and the impairment
non-recurring profit and loss losses decreased YoY. With the implementation of the
current reporting period A-share issuance project to specific objects and the
continuous improvement of capital operation efficiency
the financial structure was further optimized and the
financial expenses decreased YoY.Note: The company's non-recurring gains and losses mainly include the changes in fair value
recognized in profit or loss and the gains and losses on disposal arising from the hedging
against the fluctuation in commodity price and exchange rate by the Company with futures
instrument and foreign exchange contract in order to support the spot operation of the main
business which are closely related to the operating profit and loss of the main business.II. Information on shareholders
(1) The total number of common shareholders the number of preferred shareholders whose
voting rights are restored and the shares held by top ten shareholders
Unit: Share
Total number of shareholders Total number of preferred shareholders whose
at the end of the reporting 46225 voting rights are restored at the end of the 0
period reporting period (if any)
Shareholding status of the top 10 shareholders (excluding shares lent through refinancing)
Pledge Marking or
Proportion of Number of Freezing
Nature of Number of
Name of Shareholder Shareholding Restricted
Shareholder Shares Held Status
(%) Shares Held of Quantity
Share
Xiamen Xiangyu Group State-owned
1362930780 48.55 217425988 No 0
Corporation legal person
China Merchants Group State-owned
178253119 6.35 178253119 No 0
Limited legal person
This report is prepared in both Chinese and English. The Chinese version shall prevail in case of any
discrepancy between the Chinese and English texts.Report for First Quarter of 2025
Shandong Port Group Co. State-owned
178253119 6.35 178253119 No 0
Ltd. legal person
National Social Security
Others 63267560 2.25 0 No 0
Fund Portfolio 114
China Merchants Bank Co.Ltd. - SSE Dividend Trading
Others 61144953 2.18 0 No 0
Open-ended Index
Securities Investment Fund
Xiamen CCRE Group Co. State-owned
50226994 1.79 0 No 0
Ltd. legal person
China Agricultural
State-owned
Reclamation Industry 43149000 1.54 0 No 0
legal person
Development Fund (L.P.)
Hong Kong Securities Overseas legal
31962885 1.14 0 No 0
Clearing Company Ltd. person
Xiangyu Real Estate Group State-owned
30388100 1.08 0 No 0
Co. Ltd. legal person
Shanghai Pudong
Development Bank Co.Ltd.-E Fund Yuxiang Return Others 17434851 0.62 0 No 0
Bond Securities Investment
Fund
Shareholding status of the top 10 unrestricted shareholders (excluding shares lent through refinancing)
Class and number of shares
Name of Shareholder Number of unrestricted outstanding shares held Class of Number
shares
RMB
Xiamen Xiangyu Group
1145504792 ordinary 1145504792
Corporation
shares
RMB
National Social Security
63267560 ordinary 63267560
Fund Portfolio 114
shares
China Merchants Bank Co.RMB
Ltd. - SSE Dividend Trading
61144953 ordinary 61144953
Open-ended Index Securities
shares
Investment Fund
RMB
Xiamen CCRE Group Co.
50226994 ordinary 50226994
Ltd.shares
China Agricultural RMB
Reclamation Industry 43149000 ordinary 43149000
Development Fund (L.P.) shares
Hong Kong Securities 31962885 RMB 31962885
This report is prepared in both Chinese and English. The Chinese version shall prevail in case of any
discrepancy between the Chinese and English texts.Report for First Quarter of 2025
Clearing Company Ltd. ordinary
shares
RMB
Xiangyu Real Estate Group
30388100 ordinary 30388100
Co. Ltd.shares
Shanghai Pudong
Development Bank Co. RMB
Ltd.-E Fund Yuxiang Return 17434851 ordinary 17434851
Bond Securities Investment shares
Fund
China Ping An Life Insurance
RMB
Co. Ltd. - Dividends -
15774100 ordinary 15774100
Personal Insurance
shares
Dividends
RMB
Bank of China Limited -E
14220471 ordinary 14220471
Fund CSI Dividend ETF
shares
Xiangyu Real Estate Group Co. Ltd. is a wholly-owned subsidiary of Xiamen Xiangyu
Notes to association or Group Corporation. The Company is not aware that whether there is any association
concerted action of aforesaid between the other aforesaid shareholders or whether the other aforesaid shareholdersshareholders are the person acting in concert as stipulated in the “Administration of the Takeover ofListed Companies Procedures”.Notes to participation in top
10 shareholders and top 10
unrestricted shareholders in Not applicable
securities margin trading and
refinancing business (if any)
Share lending status of shareholders holding more than 5% the top 10 shareholders and the
top 10 unrestricted circulating shareholders participating in refinancing.□Applicable √Not Applicable
The top 10 shareholders and the top 10 unrestricted circulating shareholders have changed
compared to the previous period due to lending/returning shares for refinancing.□Applicable √Not Applicable
III. Other reminders
Other important information on the Company’s operating conditions during the reporting period
that investors shall be reminded of
√Applicable □Not Applicable
This report is prepared in both Chinese and English. The Chinese version shall prevail in case of any
discrepancy between the Chinese and English texts.Report for First Quarter of 2025
1. Completion of the company's 2022 A-share issuance project to specific objects: On January
2 2025 the China Securities Regulatory Commission issued the "Approval on the Registration
of Xiamen Xiangyu Co. Ltd. to Issue Shares to Specific Objects" (Securities Regulatory
License [2025] No. 1). On February 27 2025 the company completed the registration custody
and restricted sale procedures for the newly added shares at the Shanghai Branch of China
Securities Depository and Clearing Co. Ltd. The RMB ordinary A shares were issued to China
Merchants Group Limited Shandong Port Group Co. Ltd. and Xiamen Xiangyu Group
Corporation of 178253119 shares 178253119 shares and 217425988 shares respectively.The total amount of funds raised from this issuance is RMB 3219759787.86. After deducting
all issuance expenses of RMB 40531791.74 (excluding value-added tax) the net amount of
funds raised is RMB 3179227996.12. After the issuance was completed Xiamen Xiangyu
Group Corporation remains the controlling shareholder of the company with strategic investors
China Merchants Group Limited and Shandong Port Group Co. Ltd. both becoming
shareholders holding above 5% of the company's shares.
2. The 30th meeting of the 9th Board of Directors of the company reviewed and approved the
"Plan for Repurchasing the Company's Shares by Centralized Bidding Transactions". The
number of shares repurchased by the company shall not be less than 100 million shares
(inclusive) and not more than 150 million shares (inclusive) and the repurchase price shall not
exceed RMB 8.85 per share. The repurchase period is within 6 months from the date on which
the company's board of directors reviews and approves the repurchase plan that is from April
16 2025 to October 15 2025. The source of funds is the company's own funds or self-raised
funds and the repurchased shares will be used for equity incentives.
3. The 30th meeting of the 9th Board of Directors of the company reviewed and approved the
"2025 Restricted Stock Incentive Plan (Draft)". The company intends to grant 172.876 million
restricted shares to 991 eligible participants accounting for approximately 6.16% of the
company's total share capital with no reserved grant rights and the grant price is RMB 2.96 per
share. This matter still needs to be approved by the company's shareholders' meeting.IV. Quarterly financial statements
(1) Type of auditor’s opinions
□Applicable √Not Applicable
(2) Financial statements
Consolidated Balance Sheet
As at March 31 2025
Prepared by: Xiamen Xiangyu Co. Ltd.This report is prepared in both Chinese and English. The Chinese version shall prevail in case of any
discrepancy between the Chinese and English texts.Report for First Quarter of 2025
Unit: Yuan Currency: RMB Type of Audit: Unaudited
Item March 31 2025 December 31 2024
Current assets:
Cash and cash equivalents 18656801013.34 18605821359.60
Deposit reservation for balance
Lending to Banks and Other Financial Institutions
Held-for-trading financial assets 1561047320.32 319499110.68
Derivative financial assets 315268343.60 618797267.20
Notes receivable 167090916.82 482753845.83
Accounts receivable 15775010724.33 18901834463.18
Financing of receivables 1218151905.70 339346314.84
Prepayments 22020403536.28 19889261758.67
Premiums receivable
Reinsurance accounts receivable
Provision of cession receivable
Other receivables 4337429066.59 3950598289.43
Including: Interests receivable
Dividends receivable 18197735.20 18703933.36
Redemptory monetary capital for sale
Inventories 33911658397.81 26426841851.12
Including: data resources
Contract assets 587012137.88 753118265.09
Held-for-sale assets
Non-current assets due within one year 3686418237.46 3468640719.61
Other current assets 7987282399.26 4443656642.21
Total current assets 110223573999.39 98200169887.46
Non-current assets:
Loan and advance in cash
Investment in creditor’s right
Other investments in creditor’s right
Long-term receivables 2623965671.85 6172751596.39
Long-term equity investment 1707776235.44 1650398710.17
Investment in other equity instruments 343624281.30
Other non-current financial assets 48572779.19 47957795.28
Investment properties 1487141910.49 1338189879.74
Fixed assets 10236720360.45 10361429132.55
Construction in progress 302634002.00 424845983.17
Productive biological assets
Oil and gas assets
Right-of-use assets 511874547.49 489381755.34
Intangible assets 2139123698.44 2170629697.71
This report is prepared in both Chinese and English. The Chinese version shall prevail in case of any
discrepancy between the Chinese and English texts.Report for First Quarter of 2025
Item March 31 2025 December 31 2024
Including: data resources
Development expenditure 23000447.49 17180447.49
Including: data resources
Goodwill 12669186.90 12669186.90
Long-term unamortized expenses 124841607.73 128958385.34
Deferred income tax assets 2608175684.80 2514453030.10
Other non-current assets 264786615.15 343648981.88
Total non-current assets 22434907028.72 25672494582.06
Total assets 132658481028.11 123872664469.52
Current liabilities:
Short-term borrowing 26610336048.15 24078655699.36
Borrowings from central bank
Loans from other banks and other financial
institutions
Trading financial liabilities 4056229.81
Derivative financial liabilities 782264248.56 711242929.00
Notes payable 34782199948.87 30183976411.89
Accounts payable 8449056735.83 12440953178.40
Accounts collected in advance 36989148.25 34737066.50
Contract liabilities 12205151520.59 10525638744.07
Financial assets sold for repurchase
Deposits from customers and interbank
Acting trading securities
Acting underwriting securities
Payroll payable 830715925.54 1236036229.34
Taxes payable 575254437.04 841265101.72
Other payables 1220481702.10 2452321615.81
Including: Interests payable
Dividends payable 255674551.94 296350482.61
Handling charges and commissions payable
Accounts payable for reinsurance
Held-for-sale liabilities
Non-current liabilities due within one year 702119945.73 807921023.48
Other current liabilities 4050124648.83 1167071906.80
Total current liabilities 90248750539.30 84479819906.37
Non-current liabilities:
Provision for insurance contracts
Long-term borrowings 2203723000.51 1820072396.62
Bonds payable
Including: Preferred shares
This report is prepared in both Chinese and English. The Chinese version shall prevail in case of any
discrepancy between the Chinese and English texts.Report for First Quarter of 2025
Item March 31 2025 December 31 2024
Perpetual bonds
Lease liabilities 324245285.34 323642079.50
Long-term payables 124426373.23 149667149.32
Long-term payroll payable 569892217.39 567838110.78
Estimated liabilities 65379670.84 13769427.10
Deferred income 250318791.80 255310577.01
Deferred income tax liabilities 88265373.35 103801283.72
Other non-current liabilities 1430000000.00 1430000000.00
Total non-current liabilities 5056250712.46 4664101024.05
Total liabilities 95305001251.76 89143920930.42
Owner’s equity (or shareholders’ equity):
Paid-up capital (or capital stock) 2806995283.00 2233063057.00
Other equity instruments 11141700000.00 10113300000.00
Including: Preferred shares
Perpetual bonds 11141700000.00 10113300000.00
Capital reserve 6696812744.65 4090531787.90
Less: Treasury stock 163132991.12 164957998.88
Other comprehensive income 119768738.56 358056288.47
Appropriative reserve 353858.67
Surplus reserve 897461023.93 897461023.93
General risk reserve
Undistributed profits 6700071853.32 6294357106.24
Total owner’s equity (or shareholders’ equity)
28200030511.0123821811264.66
attributable to parent company
Minority equity 9153449265.34 10906932274.44
Total owner’s equity (or shareholders’ equity) 37353479776.35 34728743539.10
Total liabilities and owner’s equity (or
132658481028.11123872664469.52
shareholders’ equity)
Person in charge of Company: Jie Wu Person in charge of financial affairs: Zhuquan Su
Leading member of accounting body: Jing Lin
Consolidated Income Statement
January – March 2025
Prepared by: Xiamen Xiangyu Co. Ltd.Unit: Yuan Currency: RMB Type of Audit: Unaudited
First Quarter (January–March) First Quarter (January–March)
Item
of 2025 of 2024
I. Total operating revenue 97134797634.12 104568011386.73
Including: Operating revenue 97134797634.12 104568011386.73
This report is prepared in both Chinese and English. The Chinese version shall prevail in case of any
discrepancy between the Chinese and English texts.Report for First Quarter of 2025
First Quarter (January–March) First Quarter (January–March)
Item
of 2025 of 2024
Interest income
Insurance premium earned
Handling charges and
commissions income
II. Total operating cost 96819935074.81 104169126348.62
Including: Operating cost 95526192420.93 102639272774.39
Interest expense
Handling charge and
commissions expense
Surrender value
Net payment of insurance
claims
Net provision in insurance
reserve
Policy dividend
Amortized reinsurance
expenditures
Taxes and surcharges 114865967.86 123386001.35
Selling expenses 517996080.59 576715440.54
Administrative expenses 299485440.15 304500552.46
Research & development
13828190.3420619747.24
expense
Financial expense 347566974.94 504631832.64
Including: Interest expense 223909577.42 327064594.01
Interest income 112582528.23 70356747.14
Add: Other income 191616077.74 152092206.42
Income from investment (Loss
240257057.7381663107.65
to be filled in with “-”)
Including: Income from
investment in associated enterprise 56140524.36 59415477.29
and joint venture
Income from
derecognition of financial assets -17170.83 -13604761.76
measured at amortized cost
Profit or loss on exchange
(Loss to be filled in with “-”)
Net profit on exposure hedging
(Loss to be filled in with “-”)
Income from change in fair
169638095.80290882895.97
value (Loss to be filled in with “-”)
This report is prepared in both Chinese and English. The Chinese version shall prevail in case of any
discrepancy between the Chinese and English texts.Report for First Quarter of 2025
First Quarter (January–March) First Quarter (January–March)
Item
of 2025 of 2024
Loss on credit impairment
28278286.29-28257834.53
(Loss to be filled in with “-”)
Asset impairment loss (Loss to
-259807908.20-314106541.81
be filled in with “-”)
Income from disposal of assets
576266.44-44677.14
(Loss to be filled in with “-”)
III. Operating profit (Loss to be filled in
685420435.11581114194.67
with “-”)
Add: Non-operating income 56308340.89 25037653.96
Less: Non-operating expense 17674971.76 18457240.69
IV. Total profits (Total losses to be
724053804.24587694607.94
filled in with “-”)
Less: Income tax expense 78857738.97 58387790.20
V. Net profit (Net loss to be filled in
645196065.27529306817.74
with “-”)
(I) Classified by sustainable operation
1. Net profit from sustainable
operation (Net loss to be filled in with 645196065.27 529306817.74
“-”)
2. Net profit from discontinued
operation (Net loss to be filled in with
“-”)
(II) Classified by attribution of ownership
1. Net profit attributable to the
shareholders of the parent company 509063945.72 407653314.49
(Net loss to be filled in with “-”)
2. Minority interest income (Net
136132119.55121653503.25
loss to be filled in with “-”)
VI. Net-of-tax other comprehensive
-246741197.27-23297788.32
income
(I) Net-of-tax other comprehensive
income attributable to the parent -238287549.91 -23235298.62
company
1. Other comprehensive income
that cannot be reclassified as profit -18872593.31
and loss
(1) Amount of changes in
re-measurement of defined benefit
plans
(2) Other comprehensive income
This report is prepared in both Chinese and English. The Chinese version shall prevail in case of any
discrepancy between the Chinese and English texts.Report for First Quarter of 2025
First Quarter (January–March) First Quarter (January–March)
Item
of 2025 of 2024
that cannot be transferred to profit
and loss under the equity method
(3) Change in fair value of other
-18872593.31
investments in equity instruments
(4) Changes in fair value of
enterprise’s own credit risk
2. Other comprehensive income
-219414956.60-23235298.62
to be reclassified as profit and loss
(1) Other comprehensive income
that can be transferred to profit and 391029.60 -69.73
loss under the equity method
(2) Changes in fair value of other
investments on bonds
(3) Amount of financial assets
reclassified and included in other
comprehensive income
(4) Provision for credit
impairment of other investments in
bonds
(5) Reserve for cash flow hedge -203599580.45 -26639747.12
(6) Translation difference of
-16206405.753404518.23
foreign currency financial statements
(7) Others
(II) Net-of-tax other comprehensive
-8453647.36-62489.70
income attributable to the minority
VII. Total comprehensive income 398454868.00 506009029.42
(I) Total comprehensive income
attributable to the owners of the 270776395.81 384418015.87
parent company
(II) Total comprehensive income
127678472.19121591013.55
attributable to the minority
VIII. Earnings per share:
(I) Basic earnings per share
0.170.15
(Yuan/share)
(II) Diluted earnings per share
0.170.15
(Yuan/share)
This report is prepared in both Chinese and English. The Chinese version shall prevail in case of any
discrepancy between the Chinese and English texts.Report for First Quarter of 2025
In case of the merger of enterprises under the same control occurring in the current period the
net profit realized by the merged party before the merger shall be RMB 0.00 and the net profit
realized by the merged party in the previous period shall be RMB 0.00.Person in charge of Company: Jie Wu Person in charge of financial affairs: Zhuquan Su
Leading member of accounting body: Jing Lin
Consolidated Cash Flow Statement
January – March 2025
Prepared by: Xiamen Xiangyu Co. Ltd.Unit: Yuan Currency: RMB Type of Audit: Unaudited
First Quarter (January–March) First Quarter (January–March)
Item
of 2025 of 2024
I. Cash flow from operating activities:
Cash receiving from sales of goods
109384105568.49116330202830.93
and rendering of services
Net increase in customer deposit
and deposit from other banks
Net increase in borrowing from
central bank
Net increase in funds borrowed
from other financial institutions
Cash obtained by receipt of
premiums from original insurance
contracts
Net cash received from
reinsurance business
Net increase in deposit of insured
and investment
Cash received from interest
handling charges and commissions
Net increase in loans from other
banks and other financial institutions
Net increase in funds for
repurchase business
Net cash received from acting
trading securities
Refund of tax received 437646249.18 250853036.92
Other cash received in relation to
272636036.14805358212.27
operating activities
Subtotal of cash inflow from 110094387853.81 117386414080.12
This report is prepared in both Chinese and English. The Chinese version shall prevail in case of any
discrepancy between the Chinese and English texts.Report for First Quarter of 2025
First Quarter (January–March) First Quarter (January–March)
Item
of 2025 of 2024
operating activities
Cash paid for sales of goods and
116025327192.80126228578231.50
rendering of services
Net increase in customer loans
and advances
Net increase in deposit in the
Central Bank and other banks
Cash paid for claims under the
original insurance contract
Net increase in lending to banks
and other financial institutions
Cash paid for interest handling
charges and commissions
Cash paid for policy dividend
Cash paid to and for the
939937025.72922254277.18
employees
Taxes paid 904286619.23 650770597.54
Other cash paid in relation to
1417937624.76942604192.26
operating activities
Subtotal of cash outflow from
119287488462.51128744207298.48
operating activities
Net cash flow from operating
-9193100608.70-11357793218.36
activities
II. Cash flow from investment activities
Cash received from investment
3031607475.74773477567.98
withdrawal
Cash received from return on
132701320.66584644.76
investment
Net amount of cash received from
disposal of fixed assets intangible 5593751.96 2762920.32
assets and other long-term assets
Net amount of cash receiving from
disposal of subsidiary and other
business unit
Other cash receiving related to
investment activities
Subtotal of cash inflow from
3169902548.36776825133.06
investment activities
Cash paid to acquire fixed assets
167771285.71279250571.80
intangible assets and other
This report is prepared in both Chinese and English. The Chinese version shall prevail in case of any
discrepancy between the Chinese and English texts.Report for First Quarter of 2025
First Quarter (January–March) First Quarter (January–March)
Item
of 2025 of 2024
long-term assets
Cash paid to acquire investment 2225034610.32 1911055541.21
Net increase in pledge loan
Net amount of cash paid to acquire
subsidiary and other business unit
Other cash paid related to
investment activities
Subtotal of cash outflow from
2392805896.032190306113.01
investment activities
Net cash flow from investment
777096652.33-1413480979.95
activities
III. Cash flow from financing activities:
Cash received from investment by
5607904127.552262455925.00
others
Including: Cash received from
subsidiary investments from minority 423650000.00 24100000.00
shareholders
Cash received from borrowings 32181212434.77 31566223125.40
Other cash receiving related to
134748178.461137362230.30
financing activities
Subtotal of cash inflow from
37923864740.7834966041280.70
financing activities
Cash paid for repayment of debt 27125437550.91 21219901528.80
Cash paid for distribution of
452942938.51536256250.68
dividend profit or payment of interest
Including: Dividend and profit paid
by subsidiary to minority 131379997.68 215743239.88
shareholders
Other cash paid relating to
4259438540.931571086200.26
financing activities
Subtotal of cash outflow from
31837819030.3523327243979.74
financing activities
Net cash flow from financing
6086045710.4311638797300.96
activities
IV. Effect of exchange rate
changes on cash and cash -30776691.57 -12882153.30
equivalents
V. Net increase in cash and cash
-2360734937.51-1145359050.65
equivalents
Add: Beginning balance of cash 16686493830.09 19501933090.88
This report is prepared in both Chinese and English. The Chinese version shall prevail in case of any
discrepancy between the Chinese and English texts.Report for First Quarter of 2025
First Quarter (January–March) First Quarter (January–March)
Item
of 2025 of 2024
and cash equivalents
VI. Ending balance of cash and
14325758892.5818356574040.23
cash equivalents
Person in charge of Company: Jie Wu Person in charge of financial affairs: Zhuquan Su
Leading member of accounting body: Jing Lin
(3) The implementation of new accounting standards or the new interpretations to the
accounting standards since 2025 involves the adjustment of the financial statements at the
beginning of the year when they are implemented for the first time.□Applicable √Not Applicable
It is hereby announced.The Board of Directors of Xiamen Xiangyu Co. Ltd.
28th April 2025
This report is prepared in both Chinese and English. The Chinese version shall prevail in case of any
discrepancy between the Chinese and English texts.
沪公网安备31011802005267号
