CSG HOLDING CO. LTD. Financial Report of Semi-annual Report 2022
Financial Report of Semi-annual Report 2022
I.Auditors’ Report
Whether the Semi-annual Report has been audited or not
□ Yes √ No
The Company's Semi-annual Report has not been audited.II.Financial Statements
All figures in the Notes to the Financial Statements are in RMB.
1. Consolidated Balance Sheet
Prepared by CSG Holding Co. Ltd.June 30 2022
Unit: RMB
Item June 30 2022 January 1 2022
Current assets：
Cash at bank and on hand 2870042541 2765925906
Trading financial assets 1209000000 999600000
Notes receivable 445375 19220984
Accounts receivable 842283667 730525687
Receivables financing 582328808 297046123
Advances to suppliers 235326059 76097276
Other receivables 201090652 183696711
Inventories 1766912399 1093805525
Other current assets 68616670 140705298
Total current assets 7776046171 6306623510
Non-current assets
Investment property 383084500 383084500
Fixed assets 9336413529 8566515026
Construction in progress 2809337684 2461088650
Right of use assets 9034632 9911935
Intangible assets 1209525068 1167611402
Development expenditure 91718822 72019362
Goodwill 130147859 130147859
Long-term prepaid expenses 3234021 3013721
Deferred tax assets 196661447 255185923
Other non-current assets 525974043 584162622
Total non-current assets 14695131605 13632741000
Total assets 22471177776 19939364510
1CSG HOLDING CO. LTD. Financial Report of Semi-annual Report 2022
1. Consolidated Balance Sheet (continued)
Prepared by CSG Holding Co. Ltd.June 30 2022
Unit: RMB
Item 30-Jun-22 1-Jan-22
Current liabilities ：
Short-term borrowings 468108522 180770000
Notes payable 549939628 400662713
Accounts payable 1796932531 1428851312
Contract liabilities 413885125 335188642
Employee benefits payable 287729142 426212979
Taxes payable 154652150 185009681
Other payables 221866936 289440477
Of which: interest payable 36640548 95001362
Non-current liabilities due within one year 2371913539 503820548
Other current liabilities 47730142 40099309
Total current liabilities 6312757715 3790055661
Non-current liabilities
Long-term borrowings 3161136468 1469059824
Bonds payable 1996587330
lease liability 220138
Long-term payables 149062955 168258062
Deferred income 495313618 564129128
Deferred tax liabilities 91256653 84580132
Total non-current liabilities 3896769694 4282834614
Total liabilities 10209527409 8072890275
Shareholders’ equity
Share capital 3070692107 3070692107
Capital surplus 596997085 596997085
Other comprehensive income 165368070 159200530
Special reserves 1852703 7296397
Surplus reserve 1144887510 1144887510
Undistributed profits 6837623394 6450587417
Total equity attributable to shareholders of
1181742086911429661046
parent company
Minority shareholders' equity 444229498 436813189
Total shareholders' equity 12261650367 11866474235
Total liabilities and shareholders' equity 22471177776 19939364510
Legal Representative:Chen Lin Principal in charge of accounting: Wang Wenxin Principal of the financial department:
Wang Wenxin
2CSG HOLDING CO. LTD. Financial Report of Semi-annual Report 2022
2. Balance Sheet of the Parent Company
Prepared by CSG Holding Co. Ltd.June 30 2022
Unit: RMB
Item June 30 2022 January 1 2022
Current assets
Cash at bank and on hand 2017872177 1961406035
Trading financial assets 1209000000 999600000
Accounts receivable 1996267
Receivables Financing 15299671
Advances to suppliers 699982 639164
Other receivables 2624297723 2899091405
Of which: dividends receivable 250000000 250000000
Other current assets 1226
Total current assets 5869167046 5860736604
Non-current assets
Long-term equity investments 6899675709 6262391694
Fixed assets 9002995 11509029
Intangible assets 3382512 2102548
Other non-current assets 104236952 104109111
Total non-current assets 7016298168 6380112382
Total assets 12885465214 12240848986
3CSG HOLDING CO. LTD. Financial Report of Semi-annual Report 2022
2. Balance Sheet of the Parent Company(continued)
Prepared by CSG Holding Co. Ltd.June 30 2022
Unit: RMB
Item June 30 2022 January 1 2022
Current liabilities
Short-term borrowings 300000000 100000000
Bills payable 13523441
Accounts payable 464790 315684
Contract liabilities 3339466
Employee benefits payable 31843275 68534315
Taxes payable 15815743 8316132
Other payables 2075266331 2067472879
Of which: interest payable 34012995 93596328
Non-current liabilities due within one
2232931024400000000
year
Other current liabilities 434130
Total current liabilities 4673618200 2644639010
Non-current liabilities
Long-term borrowings 1245000000 690000000
Bonds payable 1996587330
Deferred income 172312500 172500000
Total non-current liabilities 1417312500 2859087330
Total liabilities 6090930700 5503726340
Shareholders’ equity
Share capital 3070692107 3070692107
Capital surplus 741824399 741824399
Surplus reserve 1159432870 1159432870
Undistributed profits 1822585138 1765173270
Total shareholders' equity 6794534514 6737122646
Total liabilities and shareholders' equity 12885465214 12240848986
Legal Representative:Chen Lin Principal in charge of accounting: Wang Wenxin Principal of the financial department:
Wang Wenxin
4CSG HOLDING CO. LTD. Financial Report of Semi-annual Report 2022
3. Consolidated Income Statement
Prepared by CSG Holding Co. Ltd.Unit: RMB
Item Half year of 2022 Half year of 2021
I. Total revenue 6519216676 6614802538
Of which:Business income 6519216676 6614802538
II. Total business cost 5480144295 4992720799
Of which:Business cost 4637645927 4126627145
Tax and surcharge 61280622 73966054
Sales expenses 133906652 125326015
Administrative expenses 318635812 354914704
R&D expenses 265877930 224886882
Financial expenses 62797352 86999999
Of which: interest expense 91984604 101970419
Interest income 30756704 20024847
Plus: Other income 99302552 36553804Investment income (“- “for loss) 16413695 3672330Credit impairment loss (“- “for loss) -1492222 -2524048Asset impairment loss (“- “for loss) 1456 -26753082Income on disposal assets (“- “for loss) 12745461 137638III. Operational profit (“- “for loss) 1166043323 1633168381Plus: non-operational income 15132978 7551798
Less: non-operational expenditure 3660070 16461985IV. Total profit (“- “for loss) 1177516231 1624258194Less: Income tax expenses 168925524 255280290V. Net profit (“- “for net loss) 1008590707 1368977904(I) Classification by business continuity
1. Net profit from continuing operations (“-” for net loss) 1008590707 1368977904
2. Net profit from discontinued operations (“-” for net
loss)
(II) Classification by ownership
1. Equity attributable to shareholders of parent company 1001174398 1352517465
2.Minority shareholder gains and losses 7416309 16460439
VI. Other comprehensive income net after tax 6167540 1322491
Other comprehensive income net after tax attributable to
61675401322491
shareholders of parent company
(I) Other comprehensive income that will be reclassified
into profit and loss
(II) Other comprehensive income reclassified to profit or
61675401322491
loss
1.Differences on translation of foreign currency financial
61675401322491
statements
Other comprehensive income net of tax attributable to
minority shareholders
VII. Total comprehensive income 1014758247 1370300395
5CSG HOLDING CO. LTD. Financial Report of Semi-annual Report 2022
Total comprehensive income attributable to shareholders
10073419381353839956
of parent company
Total comprehensive income attributable to minority
741630916460439
shareholders
VIII. Earnings per share:
(I) Basic earnings per share 0.33 0.44
(II) Diluted earnings per share 0.33 0.44
Legal Representative:Chen Lin Principal in charge of accounting: Wang Wenxin Principal of the financial department:
Wang Wenxin
6CSG HOLDING CO. LTD. Financial Report of Semi-annual Report 2022
4. Income Statement of the Parent Company
Prepared by CSG Holding Co. Ltd.Unit: RMB
Item Half year of 2022 Half year of 2021
I. Revenue 230198412 42342857
Less: Business cost 15015892
Tax and surcharge 1508969 674374
Sales expenses 1500585
Administrative expenses 158605939 91345095
R & D expenses 616965
Financial expenses 54002083 76018822
Of which: interest expense 84259999 94186512
Interest income 28380771 17977849
Plus: Other income 5677313 2018355Investment income(“- “for loss) 665374823 718475642Credit impairment loss (“- “for loss) -85084 -9473Income on disposal assets (“- “for loss) 2477876 6893580II. Operating profit 673009872 601065705
Add: Non-operating income 29967
Less: Non-operating expenses 1459583 15026836III. Total profit (“- “for loss) 671550289 586068836Less: Income tax expensesIV. Net profit (“- “for loss) 671550289 586068836(I) Net profit for continuing operations(“- “for loss) 671550289 586068836(II) Net profit from discontinued operations(“- “for loss)VI. Total comprehensive income 671550289 586068836
VII. Earnings per share
Legal Representative:Chen Lin Principal in charge of accounting: Wang Wenxin Principal of the financial department:
Wang Wenxin
7CSG HOLDING CO. LTD. Financial Report of Semi-annual Report 2022
5. Consolidated Cash Flow Statement
Prepared by CSG Holding Co. Ltd.Unit: RMB
Item Half year of 2022 Half year of 2021
I. Cash flows from operating activities
Cash received from sales of goods or rendering of services 6933269669 7148379280
Refund of taxes and surcharges 209272049 33207751
Cash received relating to other operating activities 87236568 178825175
Subtotal of cash inflow from operating activities 7229778286 7360412206
Cash paid for goods and services 4720858626 3907366000
Cash paid to and on behalf of employees 967549535 888450173
Payments of taxes and surcharges 434697790 619574024
Cash payments relating to other operating activities 203869214 246776634
Subtotal of cash outflow from operating activities 6326975165 5662166831
Net cash flows from/(used in) operating activities 902803121 1698245375
II. Cash flows from investing activities
Cash received from investment recovery 1988760000 1182000000
Cash received from investment income 15609996 3559719
Net cash received from disposal of fixed assets intangible
13563172777451
assets and other long-term assets
Cash received relating to other investing activities 32136351
Subtotal of cash inflows from investing activities 2017933168 1218473521
Cash paid to acquire fixed assets intangible assets and other
1632778700738492345
long-term assets
Cash paid for investment 2198160000 1644000000
Cash paid relating to other investing activities 19138102 6911853
Subtotal of cash outflows from investing activities 3850076802 2389404198
Net cash flows (used in)/from investing activities -1832143634 -1170930677
III. Cash flows from financing activities
Cash received from borrowings 2277155766 605996933
Cash received relating to other financing activities 206753
Subtotal of cash inflows from financing activities 2277362519 605996933
Cash repayments of borrowings 428340521 1099975831
Cash payments for interest expenses and distribution of
791223957508082947
dividends or profits
Cash payments relating to other financing activities 24165012 390507
Subtotal of cash outflows from financing activities 1243729490 1608449285
Net cash flows (used in)/from financing activities 1033633029 -1002452352
IV. Effect of foreign exchange rate changes on cash and cash
3195681-1217711
equivalents
V. Net increase/(decrease) in cash and cash equivalents 107488197 -476355365
Add: Cash and cash equivalents at beginning of current
27564775722124028196
period
VI. Cash and cash equivalents at end of current period 2863965769 1647672831
Legal Representative:Chen Lin Principal in charge of accounting: Wang Wenxin Principal of the financial department:
Wang Wenxin
8CSG HOLDING CO. LTD. Financial Report of Semi-annual Report 2022
6. Cash Flow Statement of the Parent Company
Prepared by CSG Holding Co. Ltd.Unit: RMB
Item Half year of 2022 Half year of 2021
I. Cash flows from operating activities
Cash received from sales of goods or rendering of services 191082575
Cash received relating to other operating activities 39349241 29031997
Subtotal of cash inflow from operating activities 230431816 29031997
Cash paid to and on behalf of employees 179110652 77605388
Payments of taxes and surcharges 7463566 11908472
Cash paid relating to other operating activities 16953909 31121887
Sub-total of cash outflows 203528127 120635747
Net cash flows from/(used in) operating activities 26903689 -91603750
II. Cash flows from investing activities
Cash received from investment recovery 1988760000 1090000000
Cash received from investment income 664571124 967450288
Net cash received from disposal of fixed assets intangible
2477876101560
assets and other long-term assets
Sub-total of cash inflows 2655809000 2057551848
Cash paid to acquire fixed assets intangible assets and other
36118332669478
long-term assets
Cash paid for investing activities 2835444015 1839799000
Sub-total of cash outflows 2839055848 1842468478
Net cash flows (used in)/from investing activities -183246848 215083370
III. Cash flows from financing activities
Cash received from borrowings 900000000 314000000
Cash received relating to other financing activities 379666653 143736716
Sub-total of cash inflows 1279666653 457736716
Cash repayments of borrowings 310000000 857300000
Cash payments for interest expenses and distribution of
756638060497947983
dividends or profits
Cash payments relating to other financing activities 1017256
Subtotal of cash outflows from financing activities 1067655316 1355247983
Net cash flows (used in)/from financing activities 212011337 -897511267
IV. Effect of foreign exchange rate changes on cash and cash
1808472372354
equivalents
V.Net increase/(decrease) in cash and cash equivalents 57476650 -773659293
Add: Cash and cash equivalents at beginning of current
19603955271071200364
period
VI. Cash and cash equivalents at end of current period 2017872177 297541071
Legal Representative:Chen Lin Principal in charge of accounting: Wang Wenxin Principal of the financial department:
Wang Wenxin
9CSG HOLDING CO. LTD. Financial Report of Semi-annual Report 2022
7. Consolidated Statement of Changes in Owners’ Equity
Prepared by CSG Holding Co. Ltd.Amount of the current period
Unit: RMB
Half year of 2022
Owners’ Equity Attributable to the Parent Company
Item Minority Total
Other
Capital Special Surplus Undistributed shareholders shareholders'
Share capital Subtotal
surplus comprehensi reserves reserve profits ' equity equity
ve income
I. Balance at the end of the previous
30706921075969970851592005307296397114488751064505874171142966104643681318911866474235
year
II. Balance at the beginning of
30706921075969970851592005307296397114488751064505874171142966104643681318911866474235
current year
III. Amount of change in current
6167540-54436943870359773877598237416309395176132term(“- “for decrease)(I) Total amount of the
61675401001174398100734193874163091014758247
comprehensive income
(II) Capital paid in and reduced by
owners
(III) Profit distribution -614138421 -614138421 -614138421
1. Appropriations to owners (or
-614138421-614138421-614138421
shareholders)
(IV) Internal carry-forward of
owners’ equity
(V) Specific reserves -5443694 -5443694 -5443694
1. Withdrawal in the period 4853948 4853948 4853948
2. Used in the period 10297642 10297642 10297642
(VI) Others
IV. Balance at the end of the period 3070692107 596997085 165368070 1852703 1144887510 6837623394 11817420869 444229498 12261650367
10CSG HOLDING CO. LTD. Financial Report of Semi-annual Report 2022
7. Consolidated Statement of Changes in Owners’ Equity(continued)
Prepared by CSG Holding Co. Ltd.Amount of the previous period
Unit: RMB
Half year of 2021
Owners’ Equity Attributable to the Parent Company
Item Minority Total
Other
Capital Special Surplus Undistributed shareholders' shareholders'
Share capital comprehensi Subtotal surplus reserves reserve profits equity equity
ve income
I. Balance at the end of the previous 307069210 1026900
596997085161816819103694842253362664121021298984740289403910615883886
year 7 2
II. Balance at the beginning of 307069210 1026900
596997085161816819103694842253362664121021298984740289403910615883886
current year 7 2
III. Amount of change in current -116641
132249110454482541045604335164604391062064774term(“- “for decrease) 0(I) Total amount of the
132249113525174651353839956164604391370300395
comprehensive income
(II) Capital paid in and reduced by
owners
(III) Profit distribution -307069211 -307069211 -307069211
1. Appropriations to owners (or
-307069211-307069211-307069211
shareholders)
(IV) Internal carry-forward of
owners’ equity
-116641
(V) Specific reserves -1166410 -1166410
0
1. Withdrawal in the period
2. Used in the period 1166410 1166410 1166410
(VI) Others
IV. Balance at the end of the period 307069210
5969970851631393109102592103694842263817146661125859418241935447811677948660
7
Legal Representative:Chen Lin Principal in charge of accounting: Wang Wenxin Principal of the financial department:Wang Wenxin
11CSG HOLDING CO. LTD. Financial Report of Semi-annual Report 2022
8. Statement of changes in owner's equity of the parent company
Prepared by CSG Holding Co. Ltd.Amount of the current period
Unit: RMB
Half year of 2022
Item Total shareholders'
Share capital Capital surplus Surplus reserve Undistributed profits
equity
I. Balance at the end of the previous year 3070692107 741824399 1159432870 1765173270 6737122646
II. Balance at the beginning of current year 3070692107 741824399 1159432870 1765173270 6737122646III. Amount of change in current term(“- “for
5741186857411868
decrease)
(I) Total amount of the comprehensive income 671550289 671550289
(II) Capital paid in and reduced by owners
(III) Profit distribution -614138421 -614138421
1. Appropriations to owners (or shareholders) -614138421 -614138421
(IV) Internal carry-forward of owners’ equity
(V) Special reserves
(VI) Others
IV. Balance at the end of the period 3070692107 741824399 1159432870 1822585138 6794534514
12CSG HOLDING CO. LTD. Financial Report of Semi-annual Report 2022
8. Statement of changes in owner's equity of the parent company(continued)
Prepared by CSG Holding Co. Ltd.Amount of the previous period
Unit: RMB
Half year of 2021
Item Total shareholders'
Share capital Capital surplus Surplus reserve Undistributed profits
equity
I. Balance at the end of the previous year 3070692107 741824399 1051493782 1100790694 5964800982
II. Balance at the beginning of current year 3070692107 741824399 1051493782 1100790694 5964800982III. Amount of change in current term(“- “for
278999625278999625
decrease)
(I) Total amount of the comprehensive income 586068836 586068836
(II) Capital paid in and reduced by owners
(III) Profit distribution -307069211 -307069211
1. Appropriations to owners (or shareholders) -307069211 -307069211
(IV) Internal carry-forward of owners’ equity
(V) Special reserves
(VI) Others
IV. Balance at the end of the period 3070692107 741824399 1051493782 1379790319 6243800607
Legal Representative:Chen Lin Principal in charge of accounting: Wang Wenxin Principal of the financial department:Wang Wenxin
13CSG HOLDING CO. LTD. Financial Report of Semi-annual Report 2022
III. Basic Information of the Company
CSG Holding Co Ltd (the “Company”) was incorporated in September 1984 known as China South Glass Company as a joint
venture enterprise by Hong Kong China Merchants Shipping Co. LTD (香港招商局轮船股份有限公司) Shenzhen Building
Materials Industry Corporation (深圳建筑材料工业集团公司) China North Industries Corporation (中国北方工业深圳公司) and
Guangdong International Trust and Investment Corporation (广东国际信托投资公司). The Company was registered in Shenzhen
Guangdong Province of the People's Republic of China and its headquarters is located in Shenzhen Guangdong Province of the
People's Republic of China. The Company issued RMB-denominated ordinary shares (“A-share”) and foreign shares (“B-share”)
publicly in October 1991 and January 1992 respectively and was listed on Shenzhen Stock Exchange on February 1992. As at June
30 2022 the registered capital was RMB 3070692107 with nominal value of RMB1 per share.
The Company and its subsidiaries (collectively referred to as the “Group”) are mainly engaged in the manufacture and sales of flat
glass specialized glass engineering glass energy saving glass silicon related materials polysilicon and solar components and
electronic-grade display device glass and the construction and operation of photovoltaic plant etc.The financial statements were authorized for issue by the Board of Directors on August 29 2022.Details on the major subsidiaries included in the consolidated scope in current year were stated in the Note.IV. Basis of the preparation of financial statements
1. Basis of preparation
The financial statements are prepared in accordance with the Accounting Standards for Business Enterprises - Basic Standard and
the specific accounting standards and other relevant regulations issued by the Ministry of Finance on 15 February 2006 and in
subsequent periods (hereafter collectively referred to as “the Accounting Standard for Business Enterprises” or “CAS”) and
Information Disclosure Rule No. 15 for Companies with Public Traded Securities - Financial Reporting General Provision issued by
China Security Regulatory Commission.
2. Going concern
This financial report is prepared on the basis of going concern.V. Summary of significant accounting policies and accounting estimates
The Group determines its specific accounting policies and accounting estimates to manufacturing and operation feature. It mainly
reflected in expected credit impairment losses of receivables was measured inventory costing method Depreciation of fixed assets
and amortization of intangible assets criteria for determining capitalised development expenditure and timing for revenue
recognition.Refer to the notes for details of the key judgements adopted by the Group in applying important accounting policies.
1. Statement of compliance with the Accounting Standards for Business Enterprises
The financial statements of the Company for the first half year of 2022 truly and completely present the financial position as of June
30 2022and the operating results cash flows and other information for the first half year of 2022of the Group and the Company in
compliance with the Accounting Standards for Business Enterprises.
2. Accounting period
The Company’s accounting year starts on 1 January and ends on 31 December.
3. Operating cycle
The Company’s operating cycle starts on 1 January and ends on 31 December.
14CSG HOLDING CO. LTD. Financial Report of Semi-annual Report 2022
4. Recording currency
The recording currency is Renminbi (RMB).
5. Business combinations
(a)Business combinations involving entities under common control
The consideration paid and net assets obtained by the absorbing party in a business combination are measured at book value. If the
merged party was acquired by the ultimate controlling party from a third party in the previous year the assets and liabilities of the
merged party (including the goodwill formed by the ultimate controlling party’s acquisition of the merged party). The difference
between book value of the net assets obtained from the combination and book value of the consideration paid for the combination is
treated as an adjustment to capital surplus (share premium). If the capital surplus (share premium) is not sufficient to absorb the
difference the remaining balance is adjusted against retained earnings. Costs directly attributable to the combination are included in
profit or loss in the period in which they are incurred. Transaction costs associated with the issue of equity or debt securities for the
business combination are included in the initially recognised amounts of the equity or debt securities.(b) Business combinations involving enterprises not under common control
The cost of combination and identifiable net assets obtained by the acquirer in a business combination are measured at fair value at
the acquisition date. Where the cost of the combination exceeds the acquirer’s interest in the fair value of the acquiree’s identifiable
net assets the difference is recognised as goodwill; where the cost of combination is lower than the acquirer’s interest in the fair
value of the acquiree’s identifiable net assets the difference is recognised in profit or loss for the current period. Costs directly
attributable to the combination are included in profit or loss in the period in which they are incurred. Transaction costs associated
with the issue of equity or debt securities for the business combination are included in the initially recognised amounts of the equity
or debt securities.
6. Preparation method of consolidated financial statements
The consolidated financial statements comprise the financial statements of the Company and all of its subsidiaries.Subsidiaries are consolidated from the date on which the Group obtains control and are de-consolidated from the date that such
control ceases. For a subsidiary that is acquired in a business combination involving enterprises under common control it is included
in the consolidated financial statements from the date when it together with the Company comes under common control of the
ultimate controlling party. The portion of the net profits realised before the combination date is presented separately in the
consolidated income statement.In preparing the consolidated financial statements where the accounting policies and the accounting periods of the Company and
subsidiaries are inconsistent the financial statements of the subsidiaries are adjusted in accordance with the accounting policies and
the accounting period of the Company. For subsidiaries acquired from business combinations involving enterprises not under
common control the individual financial statements of the subsidiaries are adjusted based on the fair value of the identifiable net
assets at the acquisition date.All significant intra-group balances transactions and unrealised profits are eliminated in the consolidated financial statements. The
portion of subsidiaries’ equity and the portion of a subsidiaries’ net profits and losses and comprehensive incomes for the period not
attributable to Company are recognised as minority interests and presented separately in the consolidated financial statements under
equity net profits and total comprehensive income respectively. Unrealised profits and losses resulting from the sales of assets by the
Company to its subsidiaries are fully eliminated against net profit attributable to shareholders of the parent company. Unrealised
profits and losses resulting from the sales of assets by a subsidiary to the Company are eliminated and allocated between net profit
attributable to shareholders of the parent company and non-controlling interests in accordance with the allocation proportion of the
parent company in the subsidiary. Unrealised profits and losses resulting from the sales of assets by one subsidiary to another are
eliminated and allocated between net profit attributable to shareholders of the parent company and non-controlling interests in
accordance with the allocation proportion of the parent in the subsidiary.After the control over the subsidiary has been gained whole or partial minority equities of the subsidiary owned by minority
shareholders are acquired from the subsidiary’s minority shareholders. In the consolidated financial statements the subsidiary's assets
and liabilities are reflected with amount based on continuous calculation starting from the acquisition date or consolidation date.Capital surplus is adjusted according to the difference between newly increased long-term equity investment arising from acquisition
of minority equity and the share of net assets calculated based on current shareholding ratio that the parent company is entitled to.
15CSG HOLDING CO. LTD. Financial Report of Semi-annual Report 2022
The share is subject to continuous calculation starting from the acquisition date or consolidation date. If the capital surplus (capital
premium or share capital premium) is not sufficient to absorb the difference the remaining balance is adjusted against retained
earnings.If the accounting treatment of a transaction which considers the Group as an accounting entity is different from that considers the
Company or its subsidiaries as an accounting entity it is adjusted from the perspective of the Group.
7. Criteria for determining cash and cash equivalents
Cash and cash equivalents refer to cash in hand deposits that can be used for payment at any time and investments with short
holding periods strong liquidity easy conversion into known amounts of cash and low risk of value changes.
8.Translating of foreign currency operations and foreign currency report form
(a) Foreign currency transaction
Foreign currency transactions are translated into RMB using the exchange rates prevailing at the dates of the transactions.On the balance sheet date monetary items denominated in foreign currencies are translated into RMB using the spot exchange rates
on the balance sheet date. Exchange differences arising from these translations are recognised in profit or loss for the current period
except for those attributable to foreign currency borrowings that have been taken out specifically for the acquisition or construction
of qualifying assets which are capitalised as part of the cost of those assets. Non-monetary items denominated in foreign currencies
that are measured at historical costs are translated at the balance sheet date using the spot exchange rates at the date of the
transactions. The effect of exchange rate changes on cash is presented separately in the cash flow statement.(b)Conversion of foreign currency financial statements
The asset and liability items in the balance sheets for overseas operations are translated at the spot exchange rates on the balance
sheet date. Among the shareholders’ equity items the items other than “undistributed profits” are translated at the spot exchange rates
of the transaction dates. The income and expense items in the income statements of overseas operations are translated at the spot
exchange rates of the transaction dates. The differences arising from the above translation are presented separately in the
shareholders’ equity. The cash flows of overseas operations are translated at the spot exchange rates on the dates of the cash flows.The effect of exchange rate changes on cash is presented separately in the cash flow statement.
9.Financial instrument
A financial instrument is any contract that gives rise to a financial asset of one entity and a financial liability or equity instrument of
another entity. A financial asset or a financial liability is recognised when the Group becomes a party to the contractual provisions of
the instrument.(a) Financial assets
(i) Classification and measurement
Based on the business model for managing the financial assets and the contractual cash flow characteristics of the financial assets
financial assets are classified as: (1) financial assets at amortised cost; (2) financial assets at fair value through other comprehensive
income; (3) financial assets at fair value through profit or loss.The financial assets are measured at fair value at initial recognition. Related transaction costs that are attributable to the acquisition of
the financial assets are included in the initially recognised amounts except for the financial assets at fair value through profit or loss
the related transaction costs of which are recognised directly in profit or loss for the current period. Accounts receivable or notes
receivable arising from sales of products or rendering of services (excluding or without regard to significant financing components)
are initially recognised at the consideration that is entitled to be charged by the Group as expected.Debt instruments
The debt instruments held by the Group refer to the instruments that meet the definition of financial liabilities from the perspective of
the issuer and are measured in the following ways.Measured at amortised cost
16CSG HOLDING CO. LTD. Financial Report of Semi-annual Report 2022
The objective of the Group's business model is to hold the financial assets to collect the contractual cash flows and the contractual
cash flow characteristics are consistent with a basic lending arrangement which gives rise on specified dates to the contractual cash
flows that are solely payments of principal and interest on the principal amount outstanding. The interest income of such financial
assets is recognised using the effective interest method. Such financial assets mainly comprise cash at bank and on hand placements
with and loans to banks and other financial institutions measured at amortised cost accounts receivable factoring receivables loans
and advances other receivables and long-term receivables. Long-term receivables that are due within one year (inclusive) as from the
balance sheet date are included in the current portion of non-current assets.Financial assets at fair value through other comprehensive income:
The objective of the Group's business model is to hold the financial assets to collect the contractual cash flows and selling as target
and the contractual cash flow characteristics are consistent with a basic lending arrangement. Such financial assets are measured at
fair value and their changes are included in other comprehensive income but impairment losses or gains exchange gains and losses
and interest income calculated by the effective interest rate method are all included in the current profit and loss. Such financial
assets mainly comprise - receivable financing and other financial debt investment. Other financial debt investment that are due within
one year (inclusive) as from the balance sheet date are included in the current portion as other current assets.Measured at fair value through profit or loss:
Debt instruments held by the Group that are not divided into those at amortised cost or those measured at fair value through other
comprehensive income are measured at fair value through profit or loss and included in financial assets held for trading. At initial
recognition the Group designates a portion of financial assets as at fair value through profit or loss to eliminate or significantly
reduce an accounting mismatch. Financial assets that are due within one year (inclusive) as from the balance sheet date and are
expected to be held over one year are included in other non-current financial assets.Equity instruments
Investments in equity instruments over which the Group has no control joint control or significant influence are measured at fair
value through profit or loss under financial assets held for trading; investments in equity instruments expected to be held over one
year as from the balance sheet date are included in other non-current financial assets.In addition a portion of certain investments in equity instruments not held for trading are designated as financial assets at fair value
through other comprehensive - income under other investments in equity instruments. The relevant dividend income of such financial
assets is recognised in profit or loss for the current period.(ii) Impairment
The Group confirms the loss provision based on expected credit losses for financial assets measured at amortised cost debt
instrument investments at fair value through other comprehensive income and financial guarantee contracts. based on expected credit
losses (ECL) and recognizes allowances for losses.Giving consideration to reasonable and supportable information on past events current conditions and forecasts of future economic
conditions as well as the default risk weight the expected credit loss was confirmed .On each balance sheet date the expected credit losses of financial instruments at different stages are measured respectively.
12-month ECL provision is recognised for financial instruments in Stage 1 that have not had a significant increase in credit risk since
initial recognition; lifetime ECL provision is recognised for financial instruments in Stage 2 that have had a significant increase in
credit risk yet without credit impairment since initial recognition; and lifetime ECL provision is recognised for financial instruments
in Stage 3 that have had credit impairment since initial recognition.For the financial instruments with lower credit risk on the balance sheet date the Group assumes there is no significant increase in
credit risk since initial recognition and recognises the 12-month ECL provision.For the financial instruments in Stage 1 Stage 2 and with lower credit risk the Group calculates the interest income by applying the
effective interest rate to the gross carrying amount (before deduction of the impairment provision). For the financial instrument in
-Stage 3 the interest income is calculated by applying the effective interest rate to the amortised cost (after deduction of the
impairment provision from the gross carrying amount).For notes and accounts receivables and factoring receivables arising from daily business activities such as selling commodities and
providing labor services the Group recognises the lifetime expected credit loss provision regardless of whether there exists a
significant financing component.
17CSG HOLDING CO. LTD. Financial Report of Semi-annual Report 2022
In case the expected credit losses of an individually assessed financial asset cannot be evaluated with reasonable cost the Group
divides the receivables into certain groupings based on credit risk characteristics and calculates the expected credit losses for the
groupings. Basis for determined groupings and method for provision are as follows:
Notes receivables Portfolio 1 Bank acceptance notes Expected credit loss method
Notes receivables Portfolio 2 Trade acceptance notes Expected credit loss method
Accounts receivables Portfolio 1 Receivables non-related third party Expected credit loss method
Accounts receivables Portfolio 2 Receivables related party Expected credit loss method
Other receivables Portfolio 1 Receivables non-related third party Expected credit loss method
Other receivables Portfolio 2 Receivables related party Expected credit loss method
For notes and accounts receivables and receivable financing arising from daily business activities such as selling commodities and
providing labor services the Group refers to historical credit loss experience combined with current conditions and predictions of
future economic conditions. In addition to notes receivable factoring receivables and other receivables classified as a combination
the Group refers to historical credit loss experience combines current conditions and predictions of future economic conditions and
passes default risk exposure and future 12 The expected credit loss rate within a month or the entire duration is calculated as the
expected credit loss.The Group recognises the loss provision made or reversed into profit or loss for the current period. For debt instruments that are held
at fair value and whose changes are included in other comprehensive income the Group adjusts other comprehensive income while
accounting for impairment losses or gains in the current profit or loss.(iii) Derecognition
A financial asset is derecognised when any of the below criteria is met: (1) the contractual rights to receive the cash flows from the
financial asset expire; (2) the financial asset has been transferred and the Group transfers substantially all the risks and rewards of
ownership of the financial asset to the transferee; or (3) the financial asset has been transferred and the Group has not retained control
of the financial asset although the Group neither transfers nor retains substantially all the risks and rewards of ownership of the
financial asset.(b) Financial liabilities
Financial liabilities are classified as financial liabilities at amortised cost and financial liabilities at fair value through profit or loss at
initial recognition.The Group's financial liabilities are mainly comprise financial liabilities at amortised cost including bills payable accounts payable
and other payables. This type of financial liability is initially measured at its fair value after deducting transaction costs and is
subsequently measured using the actual interest rate method. If the maturity is less than one year (including one year) it is listed as
current liabilities; Those with a maturity of less than one year (including one year) are listed as current liabilities; those with a
maturity of more than one year but due within one year (including one year) from the balance sheet date are listed as non-current
liabilities due within one year. The rest are listed as non-current liabilities.A financial liability is derecognised or partly derecognised when the underlying present obligation is discharged or partly discharged.The difference between the carrying amount of the derecognised part of the financial liability and the consideration paid is
recognised in profit or loss for the current period.(c) Determination of fair value of financial instruments
The fair value of a financial instrument that is traded in an active market is determined at the quoted price in the active market. The
fair value of a financial instrument that is not traded in an active market is determined by using a valuation technique. In valuation
the Group adopts valuation techniques applicable in the current situation and supported by adequate available data and other
information selects inputs with the same characteristics as those of assets or liabilities considered in relevant transactions of assets or
liabilities by market participants and gives priority to the use of relevant observable inputs. When relevant observable inputs are not
available or feasible unobservable inputs are adopted.
18CSG HOLDING CO. LTD. Financial Report of Semi-annual Report 2022
10.Inventories
(a)Classification
Inventories refer to manufacturing sector including raw materials work in progress finished goods and turnover materials and are
measured at the lower of cost and net realisable value.(b)Issued Inventory costing method
Cost is determined using the weighted average method. The cost of finished goods and work in progress comprise raw materials
direct labour and systematically allocated production overhead based on the normal production capacity.(c) Amortisation methods of low value consumables and packaging materials
Turnover materials include low value consumables and packaging materials which are expensed when issued.(d) The determination of net realisable value and the method of provision for decline in the value of inventories
Provision for decline in the value of inventories is determined at the excess amount of book values of the inventories over their net
realisable value. Net realisable value is determined based on the estimated selling price in the ordinary course of business less the
estimated costs to completion and estimated costs necessary to make the sale and related taxes.(e) The Group adopts the perpetual inventory system.
11. Assets classified as held for sale
A non-current asset or a disposal group is classified as held for sale when all of the following conditions are satisfied: (1) the
non-current asset or the disposal group is available for immediate sale in its present condition subject to terms that are traditionally
and customary for sales; (2) the Group has made a resolution and obtained appropriate approval for disposal of the non-current asset
or the disposal group and the transfer is to be completed within one year.Non-current assets (except for financial assets investment properties at fair value and deferred tax assets) that meet the recognition
criteria for held for sale are recognized at the amount equal to the lower of the fair value less costs to sell and book value. The
difference between fair value less costs to sell and carrying amount should be presented as impairment loss.Such non-current assets and assets included in disposal groups as classified as held for sale are accounted for as current assets; while
liabilities included in disposal groups classified as held for sale are accounted for as current liabilities and are presented separately in
the balance sheet.A discontinued operation is a component of the Group that either has been disposed of or is classified as held for sale and is
separately identifiable operationally and for financial reporting purposes and satisfies one of the following conditions: (1) represents
a separate major line of business or geographical area of operations; (2) is part of a single coordinated plan to dispose of a separate
major line of business or geographical area of operations; and (3) is a subsidiary acquired exclusively with a view to resale.The discontinued operation profits on income statement presentation have included the profits and loss of operation and disposal.
12.Long-term equity investments
Long-term equity investments comprise the Company’s long-term equity investments in its subsidiaries and the Group’s long-term
equity investments in its associates.Subsidiaries are the investees over which the Company is able to exercise control. Associates are the investees that the Group has
significant influence on their financial and operating policies.Investments in subsidiaries are measured using the cost method in the Company’s financial statements and adjusted by using the
equity method when preparing the consolidated financial statements. Investments in associates are accounted for using the equity
method.(a)Initial recognition of investment cost
19CSG HOLDING CO. LTD. Financial Report of Semi-annual Report 2022
For long-term equity investments formed in business combination: when obtained from business combinations involving entities
under common control the long-term equity investment is stated at carrying amount of equity for the combined parties at the time of
merger; when the long-term equity investment obtained from business combinations involving entities not under common control
the investment is measured at combination cost.For long-term equity investments not formed in business combination: the one paid by cash is initially measured at actual purchase
price; the long-term investment obtained by issuing equity securities is stated at fair value of equity securities as initial investment
cost..(b)Subsequent measurement and recognition of related profit or loss
For long-term equity investments accounted for using the cost method they are measured at the initial investment costs and cash
dividends or profit distribution declared by the investees are recognised as investment income in profit or loss.For long-term equity investments accounted for using the equity method where the initial investment cost of a long-term equity
investment exceeds the Group’s share of the fair value of the investee’s
identifiable net assets at the acquisition date the long-term equity investment is measured at the initial investment cost; where the
initial investment cost is less than the Group’s share of the fair value of the investee’s identifiable net assets at the acquisition date
the difference is included in profit or loss and the cost of the long-term equity investment is adjusted upwards accordingly.Under the equity method the Group recognises the investment income according to its share of net profit or loss of the investee. The
Group discontinues recognising its share of the net losses of an investee after book values of the long-term equity investment
together with any long-term interests that in substance form part of the investor’s net investment in the investee are reduced to zero.However if the Group has obligations for additional losses and the criteria with respect to recognition of provisions
under the accounting standards on contingencies are satisfied the Group continues recognising the investment losses and the
provisions. For changes in owners’ equity of the investee other than those arising from its net profit or loss its proportionate share is
directly recorded into capital surplus provided that the proportion of the shareholding of the Group in the investee remains
unchanged. Book value of the investment is reduced by the Group’s share of the profit distribution or cash dividends declared by an
investee. The unrealised profits or losses arising from the intra-group transactions amongst the Group and its investees are eliminated
in proportion to the Group’s equity interest in the investees and then based on which the investment gains or losses are recognised.Any losses resulting from transactions between the Group and its investees attributable to asset impairment losses are not eliminated.(c)Basis for determining existence of control jointly control or significant influence over investees
The term "control" refers to the power in the investees to obtain variable returns by participating in the related business activities of
the investees and the ability to affect the returns by exercising its power over the investees.The term "significant influence" refers to the power to participate in the formulation of financial and operating policies of an
enterprise but not the power to control or jointly control the formulation of such policies with other parties.(d)Impairment of long-term equity investments
Book value of long-term equity investments in subsidiaries and associates is reduced to the recoverable amount when the recoverable
amount is less than book value.
13.Investment property
Investment property includes leased land use rights land use rights held and provided for to transfer after appreciation and leased
building and construction.Investment properties are initially measured at acquisition cost. The cost of outsourcing Investment property includes the purchase
price relevant taxes and other expenditures that can be directly attributable to the asset; the cost of self-built Investment property is
determined by the construction of the asset. The composition of the necessary expenditures incurred before the usable state.Investment property adopts the fair value model for subsequent measurement without depreciation or amortization. On the balance
sheet date the book value of the investment properties are initially measured at acquisition cost is adjusted based on the fair value of
the investment properties are initially measured at acquisition cost. The difference between the fair value and the original book value
20CSG HOLDING CO. LTD. Financial Report of Semi-annual Report 2022
will be calculated into the current profit and loss.When the use of an Investment property is changed to self-use the investment property is converted into fixed assets or intangible
assets from the date of change and the book value and fair value of the fixed assets and intangible assets are determined based on the
fair value of the investment property on the conversion date. The difference with the original book value of the investment property is
included in the current profit and loss. When the purpose of self-use real estate is changed to earning rent or capital appreciation
from the date of change the fixed assets or intangible assets are converted into investment properties are initially measured at
acquisition cost and the fair value on the day of conversion is used as the book value of the investment properties are initially
measured at acquisition cost and the fair value on the day of conversion If the value is less than the original book value of fixed
assets and intangible assets the difference is included in the current profit and loss. If the fair value on the day of conversion is
greater than the original book value of fixed assets and intangible assets the difference is included in other comprehensive income.When an investment property is disposed of or permanently withdrawn from use and it is expected that no economic benefits can be
obtained from its disposal the confirmation of the investment real estate shall be terminated. The disposal income from the sale
transfer scrapping or destruction of investment real estate shall deduct its book value and relevant taxes and shall be included in the
current profits and losses. If there is an amount included in other comprehensive income on the original conversion date it will also
be carried forward and included in the current profit and loss.
14. Fixed assets
(1) Recognition condition
Fixed assets comprise buildings machinery and equipment motor vehicles and others.Fixed assets are recognized when it is probable that the related economic benefits will probably flow to the Group and the costs can
be reliably measured. Fixed assets purchased or constructed by the Group are initially measured at cost at the acquisition date.Subsequent expenditures incurred for a fixed asset are included in the cost of the fixed asset when it is probable that the associated
economic benefits will flow to the Group and the related cost can be reliably measured. Book value of the replaced part is
derecognized. All the other subsequent expenditures are recognized in profit or loss in the period in which they are incurred.
(2) Depreciation methods
Fixed assets are depreciated using the straight-line method to allocate the cost of the assets to their estimated residual values over
their estimated useful lives. For the fixed assets that have been provided for impairment loss the related depreciation charge is
prospectively determined based upon the adjusted carrying amounts over their remaining useful lives.The estimated useful lives the estimated net residual values expressed as a percentage of cost and the annual depreciation rates of
fixed assets are as follows:
Item Depreciation method Estimated useful lives Estimated net Annual depreciation rate
residual value
Building Straight-line method 20 to 35 years 5% 2.71% to 4.75%
Machinery and equipment Straight-line method 8 to 20 years 5% 4.75% to 11.88%
Motor vehicles and others Straight-line method 5 to 8 years 0% 12.50% to 20.00%
The estimated useful life the estimated net residual value of a fixed asset and the depreciation method applied to the asset are
reviewed and adjusted as appropriate at each year-end.
(3) Book value of a fixed asset is reduced to the recoverable amount when the recoverable amount is below book value.
21CSG HOLDING CO. LTD. Financial Report of Semi-annual Report 2022
(4) Disposal
A fixed asset is derecognized on disposal or when no future economic benefits are expected from its use or disposal. The amount of
proceeds from disposals on sale transfer retirement or damage of a fixed asset net ofits carrying amount and related taxes and
expenses is recognized in profit or loss for the current period.
15. Construction in progress
Construction in progress is recorded at actual cost. Actual cost comprises construction cost installation cost borrowing costs eligible
for capitalised condition and necessary expenditures incurred for its intended use. Actual cost also includes net of trial production
cost and trial production income before construction in progress is put into production.Construction in progress is transferred to fixed assets when the assets are ready for their intended use and depreciation begins from
the following month.Book value of construction in progress is reduced to the recoverable amount when the recoverable amount is below book value.
16. Borrowing costs
The borrowing costs incurred by the group that are directly attributable to the acquisition and construction of an asset that needs a
substantially long period of time for its intended use commence to be capitalised and recorded as part of the cost of the asset when
expenditures for the asset and borrowing costs have been incurred and the activities relating to the acquisition and construction that
are necessary to prepare the asset for its intended use have commenced. The capitalisation of borrowing costs ceases when the asset
under acquisition or construction becomes ready for its intended use and the borrowing costs incurred thereafter are recognized in
profit or loss for the current period. Capitalisation of borrowing costs is suspended during periods in which the acquisition or
construction of a fixed asset is interrupted abnormally and the interruption lasts for more than 3 months until the acquisition or
construction is resumed.For the specific borrowings obtained for the acquisition or construction of an asset qualifying for capitalisation the amount of
borrowing costs eligible for capitalisation is determined by the amount of interest expenses actually incurred in the current period of
special borrowing deducting any interest income earned from depositing the unused specific borrowings in the banks or any
investment income arising on the temporary investment of those borrowings during the capitalisation period.For the general borrowings obtained for the acquisition or construction of an asset qualifying for capitalisation the amount of
borrowing costs eligible for capitalisation is determined by applying the weighted average effective interest rate of general
borrowings to the weighted average of the excess amount of cumulative expenditures on the asset over the amount of specific
borrowings. The effective interest rate is the rate at which the estimated future cash flows during the period of expected duration of
the borrowings or applicable shorter period are discounted to the initial amount of the borrowings.
17 .Intangible assets
(1) Valuation method useful life and impairment test
Intangible assets mainly including land use rights patents and proprietary technologies exploitation rights and others are measured
at cost.(a) Land use rights
Land use rights are amortised on the straight-line basis over their approved use period of 30 to 70 years. If the acquisition costs of the
land use rights and the buildings located thereon cannot be reasonably allocated between the land use rights and the buildings all of
the acquisition costs are recognized as fixed assets.(b) Patents and proprietary technologies
Patents and proprietary technologies are amortised on a straight-line basis over the estimated use life.(c) Exploitation rights
22CSG HOLDING CO. LTD. Financial Report of Semi-annual Report 2022
Exploitation rights are amortised on a straight-line basis over permitted exploitation periods on the exploitation certificate.(d) Periodical review of useful life and amortization method
For an intangible asset with a finite useful life review of its useful life and amortization method is performed at each year-end with
adjustment made as appropriate.(e) Impairment of intangible assets
Book value of intangible assets is reduced to the recoverable amount when the recoverable amount is below book value.
(2) Accounting policy for internal research and development expenditure
The expenditure on an internal research and development project is classified into expenditure on the research phase and expenditure
on the development phase based on its nature and whether there is material uncertainty that the research and development activities
can form an intangible asset at end of the project.Expenditure on the research phase related to planned survey evaluation and selection for research on manufacturing technique is
recognized in profit or loss in the period in which it is incurred. Prior to mass production expenditure on the development phase
related to the design and testing phase in regards to the final application of manufacturing technique is capitalised only if all of the
following conditions are satisfied:
* the development of manufacturing technique has been fully demonstrated by technical team;
* management has approved the budget for the development of manufacturing technique;
* there are research and analysis of pre-market research explaining that products manufactured with such technique are capable
of marketing;
* There is sufficient technical and capital to support the development of manufacturing technique and subsequent mass
production; and the expenditure on manufacturing technique development can be reliably gathered.Other development expenditures that do not meet the conditions above are recognized in profit or loss in the period in which they are
incurred. Development costs previously recognized as expenses are not recognized as an asset in a subsequent period. Capitalised
expenditure on the development phase is presented as development costs in the balance sheet and transferred to intangible assets at
the date that the asset is ready for its intended use.
18. Impairment of long-term assets
Investment propertiesfixed assets construction in progress intangible assets with finite useful lives and long-term equity
investments in joint ventures and associates are tested for impairment if there is any indication that the assets may be impaired at the
balance sheet date; intangible assets not ready for their intended use are tested at least annually for impairment irrespective of
whether there is any indication that they may be impaired. If the result of the impairment test indicates that the recoverable amount of
an asset is less than its carrying amount a provision for impairment and an impairment loss are recognized for the amount by which
the asset’s carrying amount exceeds its recoverable amount. The recoverable amount is the higher of an asset’s fair value less costs to
sell and the present value of the future cash flows expected to be derived from the asset. Provision for asset impairment is determined
and recognized on the individual asset basis. If it is not possible to estimate the recoverable amount of an individual asset the
recoverable amount of a group of assets to which the asset belongs is determined. A group of assets is the smallest group of assets
that is able to generate independent cash inflows.Goodwill that is separately presented in the financial statements is tested at least annually for impairment irrespective of whether
there is any indication that it may be impaired. In conducting the test book value of goodwill is allocated to the related asset groups
or groups of asset groups which are expected to benefit from the synergies of the business combination. If the result of the test
indicates that the recoverable amount of an asset group or group of asset groups including the allocated goodwill is lower than its
carrying amount the corresponding impairment loss is recognized. The impairment loss is first deducted from book value of
goodwill that is allocated to the asset group or group of asset groups and then deducted from book values of other assets within the
asset groups or groups of asset groups in proportion to book values of assets other than goodwill.Once the above asset impairment loss is recognized it will not be reversed for the value recovered in the subsequent periods.
19.Long-term prepaid expenses
Long-term prepaid expenses include the expenditures that have been incurred but should be recognised as expenses over more than
one year in the current and subsequent periods. Long-term prepaid expenses are amortised on the straight-line basis over the expected
beneficial period and are presented at actual expenditure net of accumulated amortisation.
23CSG HOLDING CO. LTD. Financial Report of Semi-annual Report 2022
20. Employee benefits
Employee benefits include short-term employee benefits post-employment benefits termination benefits and other long-term
employee benefits provided in various forms of consideration in exchange for service rendered by employees or compensations for
the termination of employment relationship.
(1) Accounting treatment method of short-term employee benefits
Short-term employee benefits include wages or salaries bonuses allowances and subsidies staff welfare medical care work injury
insurance maternity insurance housing funds labour union funds employee education funds and paid short-term leave etc. The
employee benefit liabilities are recognized in the accounting period in which the service is rendered by the employees with a
corresponding charge to the profit or loss for the current period or the cost of relevant assets. Employee benefits which are
non-monetary benefits shall be measured at fair value.
(2)Accounting treatment method of post-employment benefits
The Group classifies post-employment benefit plans as either defined contribution plans or defined benefit plans. Defined
contribution plans are post-employment benefit plans under which the Group pays fixed contributions into a separate fund and will
have no obligation to pay further contributions; and defined benefit plans are post-employment benefit plans other than defined
contribution plans. During the reporting period the Group's post-employment benefits mainly include basic pensions and
unemployment insurance both of which belong to the defined contribution plans.
(3)Basic pensions
The Group’s employees participate in the basic pension plan set up and administered by local authorities of Ministry of Human
Resource and Social Security. Monthly payments of premiums on the basic pensions are calculated according to prescribed bases and
percentage by the relevant local authorities. When employees retire local labour and social security institutions have a duty to pay
the basic pension insurance to them. The amounts based on the above calculations are recognized as liabilities in the accounting
period in which the service has been rendered by the employees with a corresponding charge to the profit or loss for the current
period or the cost of relevant assets.
(4)Accounting treatment of dismissal benefits
The Group provides compensation for terminating the employment relationship with employees before the end of the employment
contracts or as an offer to encourage employees to accept voluntary redundancy before the end of the employment contracts. The
Group recognizes a liability arising from compensation for termination of the employment relationship with employees with a
corresponding charge to profit or loss at the earlier of the following dates: 1) when the Group cannot unilaterally withdraw the offer
of termination benefits because of an employment termination plan or a curtailment proposal; 2) when the Group recognizes costs or
expenses related to the restructuring that involves the payment of termination benefits.The dismissal benefits expected to be paid within one year since the balance sheet date are classified as current liabilities.
21. Estimated liabilities
Current obligations arising from enterprise restructuring product quality assurance onerous contracts etc. are recognized as
estimated liabilities when the performance of such obligations is likely to lead to the outflow of economic benefits and the amount
can be measured reliably.A provision is initially measured at the best estimate of the expenditure required to settle the related present obligation. Factors
surrounding a contingency such as the risks uncertainties and the time value of money are taken into account as a whole in reaching
the best estimate of a provision. Where the effect of the time value of money is material the best estimate is determined by
discounting the related future cash outflows. The increase in the discounted amount of the provision arising from passage of time is
recognized as interest expense.Book value of provision is reviewed at each balance sheet date and adjusted to reflect the current best estimate.The provisions expected to be paid within one year since the balance sheet date are classified as current liabilities.
24CSG HOLDING CO. LTD. Financial Report of Semi-annual Report 2022
22 .Share-based payments
Share-based payments are divided into equity-settled and cash-settled payments. The term "equity-settled share-based payment"
refers to a transaction in which an enterprise grants shares or other equity instruments as a consideration in return for services.Equity-settled share-based payment The Group‘s stock optionstock option plan is the equity-settled share-based payment in exchange
of employees' services and is measured at the fair value of the equity instruments at grant date. The equity instruments are exercisable
after services in vesting period are completed or specified performance conditions are met. In the vesting period the services
obtained in current period are included in relevant cost and expenses at the fair value of the equity instruments at grant date based on
the best estimate of the number of exercisable equity instruments and capital surplus is increased accordingly. The Group makes the
best estimate of the number of vesting equity instruments based on the latest obtained changes in the number of vested employees
whether the required performance conditions are met and other follow-up information. If the subsequent information indicates the
number of exercisable equity instruments differs from the previous estimate an adjustment is made and on the exercise date the
estimate is revised to equal the number of actual vested equity instruments.In the period at which performance conditions and term of service are met the relevant cost and expenses of equity-settled payment
should be recognized and capital surplus is increased accordingly. Before the exercise date the accruing amounts of equity-settled
payments on balance sheet date reflect the part of expired waiting period and optimal estimation for the number of the Company final
vested equity instruments.If the non-market conditions and term of service are not met so that share-based payment fail to exercise the costs and expenses on
this portion should not be recognized. If the share-based payment agreement sets out the market conditions and term of non-vesting
as long as performance conditions and term of service are met it is should be regard as exercisable right no matter the market
conditions and non-vesting conditions are meet or not.If the terms of equity-settled payment are modified at least the service is confirmed in accordance with the unmodified terms. In
addition the increase of the fair value of the authorized equity instruments or the beneficial changes to the employees on the
modification date the increase of service are confirmed. If the equity-settled payment is cancelled the cancellation date shall be
deemed as an expedited exercise and the unconfirmed amount shall be confirmed immediately. If the employee or other party is able
to choose to meet the non-vesting conditions but not satisfied in the waiting period equity-settled payment should be cancelled. But
if a new equity instrument is granted and the new equity instrument is confirm to replace the old equity instrument which is canceled
in the authorization date of the new equity instrument the new equity instrument should be disposed by using the same conditions
and terms of the old equity instrument for modifications.
23. Revenue
The Group recognizes revenue at the consideration that the Group is entitled to charge as expected when the Group has fulfilled the
performance obligations in the contract that is the customer obtains control over relevant goods or services.(a) Sales of goods
The Group mainly sells flat and engineering glass products related to solar energy and electronic glass and displays. For domestic
sales the Group delivers the products to a certain place specified in the contract. When the buyer takes over the goods the Group
recognizes revenue. For export sales the Group recognizes the revenue when it finished clearing goods for export and delivering the
goods on board the vessel or when the goods are delivered to a certain place specified in the contract. The credit period granted by
the Group to customers is determined based on the customer's credit risk characteristics consistent with industry practices and there
is no major financing component. The Group’s obligation to transfer goods to customers for consideration received or receivable
from customers is listed as contract liabilities.Revenue is presented as the net amount after deducting sales discounts and sales returns.(b) Rendering of services
The Group provides external consulting loading unloading transportation and processing labor services and recognizes revenue
within a period of time based on the progress of the completed labor. The progress of the completed labor is determined according to
the proportion of the cost incurred to the estimated total cost. On the balance sheet date the Group re-estimates the progress of
completed labor services so that it can reflect changes in contract performance.When the Group recognizes revenue based on the performance progress of the completed labor services the portion for which the
Group has obtained the unconditional right to receive payments is recognized as accounts receivable and the remaining portion is
recognized as contract assets and the Company measures the loss reserve of accounts receivable and contract assets. According to
the expected credit loss; If the contract price received or receivable by the Group exceeds the completed progress the excess is
recognized as contract liabilities. The Group presents the contract assets and contract liabilities under the same contract as a net
25CSG HOLDING CO. LTD. Financial Report of Semi-annual Report 2022
amount.
24 .Government grants
Government grants are transfers of monetary or non-monetary assets from the government to the Group at nil consideration
including tax refund and financial subsidies etc.A government grant is recognized when there is a reasonable assurance that the grants will be received and the Group will comply
with all attached conditions. Monetary government grants are measured at the amounts received or receivable. Non-monetary
government grants are measured at fair value if the fair value cannot be reliably obtained it is measured at nominal amount.The government grants related to assets refer to government grant obtained by enterprises and used for purchase and construction of
long-term assets or formation of long-term asset in other ways. The government grants related to income refer to grants other than
those related to assets.For government grants related to income where the grant is a compensation for related expenses or losses to be incurred by the
Group in the subsequent periods the grant is recognized as deferred income and included in profit or loss over the periods in which
the related costs are recognized; where the grant is a compensation for related expenses or losses already incurred by the Group the
grant is recognized immediately in profit or loss for the current period.The company use the same method of presentation for similar
government grants.The ordinary activity government grants should be counted into operating profits; the government grants which not belong to
ordinary activities should be counted into non-operating income.
25. Deferred tax assets / deferred tax liabilities
Deferred tax assets and deferred tax liabilities are calculated and recognized based on the differences arising between the tax bases of
assets and liabilities and their carrying amounts (temporary differences). Deferred tax asset is recognized for the deductible losses
that can be carried forward to subsequent years for deduction of the taxable profit in accordance with the tax laws. No deferred tax
liability is recognized for a temporary difference arising from the initial recognition of goodwill. No deferred tax asset or deferred tax
liability is recognized for the temporary differences resulting from the initial recognition of assets or liabilities due to a transaction
other than a business combination which affects neither accounting profit nor taxable profit (or deductible loss). At the balance sheet
date deferred tax assets and deferred tax liabilities are measured at the tax rates that are expected to apply to the period when the
asset is realized or the liability is settled.Deferred tax assets are only recognized for deductible temporary differences deductible losses and tax credits to the extent that it is
probable that taxable profit will be available in the future against which the deductible temporary differences deductible losses and
tax credits can be utilized.Deferred tax liabilities are recognized for temporary differences arising from investments in subsidiaries and associates except where
the Group is able to control the timing of reversal of the temporary difference and it is probable that the temporary difference will
not reverse in the foreseeable future. When it is probable that the temporary differences arising from investments in subsidiaries and
associates will be reversed in the foreseeable future and that the taxable profit will be available in the future against which the
temporary differences can be utilized the corresponding deferred tax assets are recognized.Deferred income tax assets and deferred income tax liabilities that meet the following conditions at the same time are listed as the net
amount after offset:
The deferred taxes are related to the same tax payer within the Group and the same taxation authority;
That tax payer within the Group has a legally enforceable right to offset current tax assets against current tax liabilities.
26 .Leases
A leasing is a contract in which the lessor cedes the right to use an asset to the lessee for a certain period of time in return for
consideration.(a) The Group acts as the lessee
The Company recognizes the right-of-use assets on the commencement date of the lease term and recognizes the lease liabilities at
the present value of the outstanding lease payments. The lease payments include fixed payments as well as payments where there is
26CSG HOLDING CO. LTD. Financial Report of Semi-annual Report 2022
reasonable certainty that a purchase option will be exercised or a lease option will be terminated. The variable rent determined based
on a certain percentage of sales is not included in the lease payment and is included in the current profit and loss when it actually
occurs. The Group will list the non-liabilities within one year that lease liabilities will be paid one year. from the balance sheet date.On the commencement date the Company shall initially measure the right-of-use asset at cost. The cost of the right-of-use asset shall
comprise the amount of the initial measurement of the lease liability and any lease payments made at or before the commencement
date and any initial direct costs incurred by the lessee etc less any lease incentives received If ownership of the leased asset
transfers to the Group at the end of the lease term depreciation is calculated using the estimated useful life of the asset. Otherwise
the right-of-use assets are depreciated over the shorter of the lease term and the estimated useful lives of the assets. Where the
carrying amount of an asset or a cash generating unit exceeds its recoverable amount the asset or cash generating unit is considered
impaired and is written down to its recoverable amount.A short-term lease is a lease that at the commencement date has a lease term of 12 months or less and has a low-value asset leases.The Group does not recognize the right-of-use assets and lease liabilities. The Group recognizes lease payments on short-term leases
and leases of low-value assets in the related asset costs or profit or loss on a straight-line basis over the lease term.The Group accounts for a lease modification as a separate lease if both:(1) the modification increases the scope of the lease by adding
the right to use one or more underlying assets; (2) the consideration for the lease increases by an amount commensurate with the
stand-alone price for the increase in scope and any appropriate adjustments to that stand-alone price to reflect the circumstances of
the particular contract.For a lease modification that is not accounted for as a separate lease at the effective date of the lease modification the Group
remeasures the lease liability by discounting the revised lease payments using a revised discount rate. Decreasing the carrying
amount of the right-of-use asset to reflect the partial or full termination of the lease for lease modifications that decrease the scope of
the lease. The Group recognizes in profit or loss any gain or loss relating to the partial or full termination of the lease. Other lease
modifications will remeasure lease liabilities and the group will make a corresponding adjustment to the right-of-use asset book
value.(b) The Group acts as the lessor
A lease that transfers substantially all the risks and rewards associated with the ownership of the leased asset is a finance lease. Other
leases are operating leases.(i) Operating lease
When the Company operates leased buildings machinery and equipment and means of transport the rental income from operating
leases shall be recognized in accordance with the straight-line method during the lease term. The Company will include variable rent
determined based on a percentage of sales in rental income when it actually incurs. For any modification to an operating lease the
Group treats it as a new lease from the effective date of the modification and the received or receivable lease payments related to the
lease prior to the modification are treated as lease payments of the new lease.(ii) Finance lease
On the beginning date of the lease term the Company recognizes the finance lease receivables for finance leases and derecognizes
related assets. The Company presents the finance lease receivables as long-term receivables and the finance lease receivables
received within one year (including one year) from the balance sheet date are presented as non-current assets due within one year.
27. Other important accounting policies and accounting estimates
The Group continually Estimates the critical accounting estimates and key assumptions applied based on historical experience and
other factors including expectations of future events that are believed to be reasonable.The critical accounting estimates and key assumptions that have a significant risk of possibly causing a material adjustment to book
values of assets and liabilities within the next accounting year are outlined below:
27CSG HOLDING CO. LTD. Financial Report of Semi-annual Report 2022
(a) Income tax
The Group is subject to Income tax in numerous jurisdictions. There are some transactions and events for which the ultimate tax
determination is uncertain during the ordinary course of business. Significant judgement is required from the Group in determining
the provision for Income tax in each of these jurisdictions. Where the final identified outcome of these tax matters is different from
the initially-recorded amount such difference will impact the income tax expenses and deferred income tax in the period in which
such determination is finally made.(b) Deferred income tax
Estimates on deferred tax assets are based on estimates on amount of taxable income and applicable tax rate for every year.Realisation of deferred income tax is subject to sufficient taxable income that is possible to be obtained by the Group in the future.Change of the future tax rate as well as the reversed time of temporary difference might have effects on tax expense (income) and the
balance of deferred tax assets or liabilities. Those estimates may also cause significant adjustment on deferred tax.(c) Impairment of long-term assets (excluding goodwill)
Long-term assets at the balance sheet date should be subject to impairment testing if there are any indications of impairment.Management determines whether the long-term assets impaired or not by evaluating and analysing following aspects: (1) whether the
event affecting assets impairment occurs; (2) whether the expected obtainable present value of future cash flows is lower than the
asset’s carrying amount by continually using the assets or disposal; and (3) whether the assumptions used in expected obtainable
present value of future cash flows are appropriate.Various assumptions including the discount rate and growth rate applied in the method of present value of future cash flow are
required in evaluating the recoverable amount of assets. If these assumptions cannot be conformed the recoverable amount should be
modified and the long-term assets may be impaired accordingly.(d) The useful life of fixed assets
Management estimates the useful life of fixed assets based on historical experiences on using fixed assets that have similar
properties and functions. When there are differences between actually useful life and previously estimation management will adjust
estimation to useful life of fixed assets. The fixed assets would be written off or written down when fixed assets been disposed or
became redundant. Thus the estimated result based on existing experience may be different from the actual result of the next
accounting period which may cause major adjustment to book value of fixed assets on balance sheet.(e) Goodwill impairment
Goodwill impairment reviews are undertaken annually or more frequently if events or changes in circumstances indicate a potential
impairment. For the purpose of impairment testing goodwill acquired in a business combination is allocated to each of the
cash-generating units (“CGUs”) or groups of CGUs and future cash flow from each CGU or CGUs is forcasted and discounted with
appropriate discount rate.
28. Significant accounting policies and changes in accounting estimates
（1）Important accounting policy changes
√ Applicable □Not applicable
Contents and reasons for changes in accounting
Approval procedure Remark
policy
On December 31 2021 the Ministry of Finance
promulgated the "Notice on Printing and Issuing"
The ninth meeting of the ninth
(Cai Kuai [2021] No. 35) (hereinafter referred to
board of directors and the ninth
as "Standard Interpretation No. 15") regarding
meeting of the ninth board of
the company's fixed assets before they reach the
supervisors held on April 28 2022 The adoption of Interpretation No. 15
intended use state or The accounting treatment of
reviewed and approved the did not have a significant impact on
external sales of products or by-products
company's disclosure of accounting the financial position and operating
produced in the R&D process and the judgment
statements in accordance with the results of the Company.on loss-making contracts have been clarified.requirements of Standard
Standard Interpretation No. 15 "Accounting
Interpretation No. 15 from January
treatment of external sales of products or
12022.
by-products produced by enterprises before their
fixed assets reach their intended usable state or in
28CSG HOLDING CO. LTD. Financial Report of Semi-annual Report 2022
the process of research and development" and
"Judgment on onerous contracts" from January 1
2022 to be implemented.
（2）Important accounting estimate changes
□ Applicable √Not applicable
29. Others
（1）Safety production costs
According to relevant regulations of the Ministry of Finance and National Administration of Work Safety a subsidiary of the Group
which is engaged in producing and selling polysilicon appropriates safety production costs on following basis:
(a) 4% for revenue below RMB10 million (inclusive) of the year;
(b) 2% for the revenue between RMB10 million to RMB100 million (inclusive) of the year;
(c) 0.5% for the revenue between RMB100 million to RMB1 billion (inclusive) of the year;
(d) 0.2% for the revenue above RMB1 billion of the year.The safety production costs are mainly used for the overhaul renewal and maintenance of safety facilities. The safety production
costs are charged to costs of related products or profit or loss when appropriated and safety production costs in equity account are
credited correspondingly. When using the special reserve if the expenditures are expenses in nature the expenses incurred are offset
against the special reserve directly when incurred. If the expenditures are capital expenditures when projects are completed and
transferred to fixed assets the special reserve should be offset against the cost of fixed assets and a corresponding accumulated
depreciation are recognized. The fixed assets are no longer be depreciated in future.
（2）Segment information
The Group identifies operating segments based on the internal organisation structure management requirements and internal
reporting system and discloses segment information of reportable segments which is determined on the basis of operating segments.An operating segment is a component of the Group that satisfies all of the following conditions: (a) the component is able to earn
revenue and incur expenses from its ordinary activities; (b) whose operating results are regularly reviewed by the Group’s
management to make decisions about resources to be allocated to the segment and to assess its performance and (c) for which the
information on financial position operating results and cash flows is available to the Group. If two or more operating segments have
similar economic characteristics and satisfy certain conditions they are aggregated into one single operating segment.VI.Taxation
1. The main categories and rates of taxes
Category Taxable basis Tax rate
Enterprise income tax Taxable income 0%-25%
Taxable value-added amount (Tax
payable is calculated using the taxable
Value-added tax (“VAT”) sales amount multiplied by the applicable 1%-13%
tax rate less deductible VAT input of the
current period)
City maintenance and construction tax VAT paid 1%-7%
Educational surcharge VAT paid 5%
29CSG HOLDING CO. LTD. Financial Report of Semi-annual Report 2022
2. Tax incentives
Tianjin CSG Energy-Saving Glass Co. Ltd. (“Tianjin Energy Conservation”) passed review on a high and new tech enterprise in
2021 and obtained the Certificate of High and New Tech Enterprise the period of validity is three years. It applies to 15% tax rate for
three years since 2021.Dongguan CSG Architectural Glass Co. Ltd. (“Dongguan CSG”) passed review on a high and new tech enterprise in 2019 and
obtained the Certificate of High and New Tech Enterprise the period of validity is three years. It applies to 15% tax rate for three
years since 2019. In the 2022 high-tech enterprise qualification review the income tax rate of 15% will be temporarily applied during
the reporting period.Wujiang CSG East China Architectural Glass Co. Ltd. (“Wujiang CSG Engineering”) passed review on a high and new tech
enterprise in 2020 and obtained the Certificate of High and New Tech Enterprise the period of validity is three years. It applies to
15% tax rate for three years since 2020.
Dongguan CSG Solar Glass Co. Ltd. (“Dongguan CSG Solar”) passed review on a high and new tech enterprise in 2020 and
obtained the Certificate of High and New Tech Enterprise the period of validity is three years. It applies to 15% tax rate for three
years since 2020.Yichang CSG Polysilicon Co. Ltd. (“Yichang CSG Polysilicon”) passed review on a high and new tech enterprise in 2020 and
obtained the Certificate of High and New Tech Enterprise the period of validity is three years. It applies to 15% tax rate for three
years since 2020.Dongguan CSG PV-tech Co. Ltd. (“Dongguan CSG PV-tech”) passed review on a high and new tech enterprise in 2019 and
obtained the Certificate of High and New Tech Enterprise the period of validity is three years. It applies to 15% tax rate for three
years since 2019.In the 2022 high-tech enterprise qualification review the income tax rate of 15% will be temporarily applied during
the reporting period.Hebei Shichuang Glass Co. Ltd. (“Hebei Shichuang”) passed review on a high and new tech enterprise in 2019 and obtained the
Certificate of High and New Tech Enterprise the period of validity is three years. It applies to 15% tax rate for three years since
2019.In the 2022 high-tech enterprise qualification review the income tax rate of 15% will be temporarily applied during the
reporting period.Wujiang CSG Glass Co. Ltd. (“Wujiang CSG”) passed review on a high and new tech enterprise in 2020 and obtained the
Certificate of High and New Tech Enterprise and the period of validity was three years. It applies to 15% tax rate for three years
since 2020.Xianning CSG Glass Co Ltd. (“Xianning CSG”) passed review on a high and new tech enterprise in 2020 and obtained the
Certificate of High and New Tech Enterprise and the period of validity was three years. It applies to 15% tax rate for three years
since 2020.Xianning CSG Energy-Saving Glass Co. Ltd. (“Xianning CSG Energy-Saving”) passed review on a high and new tech enterprise in
2021 and obtained the Certificate of High and New Tech Enterprise and the period of validity was three years. It applies to 15% tax
rate for three years since 2021.Yichang CSG Photoelectric Glass Co. Ltd. (“Yichang CSG Photoelectric”) passed review on a high and new tech enterprise in 2021
and obtained the Certificate of High and New Tech Enterprise and the period of validity was three years. It applies to 15% tax rate
for three years since 2021.Yichang CSG Display Co. Ltd (“Yichang CSG Display”) passed review on a high and new tech enterprisein 2021 and obtained
the Certificate of High and New Tech Enterprise and the period of validity was three years. It applies to 15% tax rate for three years
since 2021.Qingyuan CSG New Energy-Saving Materials Co. Ltd. (“Qingyuan CSG Energy-Saving”) passed review on a high and new tech
enterprise in 2019 and obtained the Certificate of High and New Tech Enterprise and the period of validity was three years. It
applies to 15% tax rate for three years since 2019.In the 2022 high-tech enterprise qualification review the income tax rate of 15%
will be temporarily applied during the reporting period.Hebei CSG Glass Co Ltd. (“Hebei CSG”) passed review on a high and new tech enterprise in 2021 and obtained the Certificate of
High and New Tech Enterprise and the period of validity was three years. It applies to 15% tax rate for three years since 2021.Shenzhen CSG Applied Technology Co Ltd. (“Shenzhen Technology”) passed review on a high and new tech enterprise in 2021
and obtained the Certificate of High and New Tech Enterprise and the period of validity was three years. It applies to 15% tax rate
for three years since 2021.Xianning CSG Photoelectric Glass Co. Ltd. (“Xianning Photoelectric”) passed review on a high and new tech enterprise in 2019 and
30CSG HOLDING CO. LTD. Financial Report of Semi-annual Report 2022
obtained the Certificate of High and New Tech Enterprise the period of validity is three years. It applies to 15% tax rate for three
years since 2019.In the 2022 high-tech enterprise qualification review the income tax rate of 15% will be temporarily applied during
the reporting period.Dongguan CSG Crystal Yuxin Materials Co. Ltd. (“Dongguan Jing Yu Company”) passed review on a
high and new tech enterprise in 2021 and obtained the Certificate of High and New Tech Enterprise the period of validity is three
years. It applies to 15% tax rate for three years since 2021.Sichuan CSG Energy Conservation Glass Co. Ltd. (“Sichuan CSG Energy Conservation”) obtains enterprise income tax preferential
treatment for Western Development and temporarily calculates enterprise income tax at a tax rate of 15% for current year.Chengdu CSG Glass Co. Ltd. (“Chengdu CSG”) obtains enterprise income tax preferential treatment for Western Development and
temporarily calculates enterprise income tax at a tax rate of 15% for current year.Xian CSG Energy Conservation Glass Co. Ltd. (“Xian CSG Energy Conservation”) obtains enterprise income tax preferential
treatment for Western Development and temporarily calculates enterprise income tax at a tax rate of 15% for current year.Guangxi CSG New Energy Materials Technology Co. Ltd. ( “Guangxi CSG New Energy Materials Company”) obtains enterprise
income tax preferential treatment for Western Development and temporarily calculates enterprise income tax at a tax rate of 15% for
current year.Zhaoqing CSG New Energy Technology Co. Ltd. ( “Zhaoqing CSG New Energy Company”)Zhangzhou CSG Kibing PV Energy
Co. Ltd. (“Zhangzhou CSG PV Energy”) Heyuan CSG Kibing PV Energy Co. Ltd. (“Heyuan CSG”) and Shaoxing CSG Kibing
New Energy Co. Ltd. (“Shaoxing CSG New Energy”) Xianning CSG PV Energy Co. Ltd. (“Xianning PV Energy”) Zhanjiang
CSG New Energy Co. Ltd. (“Zhanjiang PV Energy”) are public infrastructure project specially supported by the state in accordance
with the Article 87 in Implementing Regulations of the Law of the People's Republic of China on Enterprise Income Tax and can
enjoy the tax preferential policy of “three-year exemptions and three-year halves” that is starting from the tax year when the first
revenue from production and operation occurs the enterprise income tax is exempted from the first to the third year while half of the
enterprise income tax is collected for the following three years.
31CSG HOLDING CO. LTD. Financial Report of Semi-annual Report 2022
3. Others
Some subsidiaries of the Group have used the “exempt credit refund” method on goods exported and the refund rate is0%-13%。
VII. Notes to the consolidated financial statements
1. Cash at bank and on hand
Unit: RMB
Item Balance at the end of the period Balance at the beginning of the period
Cash on hand 130
Cash at bank 2523965640 2453477573
Other cash balances 346076771 312448333
Total 2870042541 2765925906
Including: Total overseas deposits 19686544 8906359
The total amount of funds that have restrictions
60767729448334
on use due to mortgages pledges or freezes
2 .Trading financial assets
Unit: RMB
Item Balance at the end of the period Balance at the beginning of the period
Financial assets measured at fair value
1209000000999600000
through profit or loss
Of which:
Structured deposits 1209000000 999600000
Total 1209000000 999600000
3. Notes receivable
（1）Notes receivable listed by classification
Unit: RMB
Item Balance at the end of the period Balance at the beginning of the period
Trade acceptance notes 445375 19220984
Total 445375 19220984
Unit: RMB
Balance at the end of the period Balance at the beginning of the period
Provision for bad Provision for bad
Carrying amount Carrying amount
debts
Category debts Book
Prop Prop Book value
Propo value Propor
Amount Amount ortio Amount Amount ortio
rtion tion
n n
32CSG HOLDING CO. LTD. Financial Report of Semi-annual Report 2022
Notes
receivable
with
provision
2226877100%178150280%4453752843824971%2077880673%7659443
for bad
debts on a
single
item basis
Notes
receivable
with bad
debt 11561541 29% 11561541
provision
based on
portfolio
Total 2226877 100% 1781502 80% 445375 39999790 100% 20778806 52% 19220984
Provision for bad debts on the individual basis:
Unit: RMB
Closing balance
Name Provision Carrying
for bad Proportion Reasons for withdrawal
amount
debts
It mainly represented trade acceptance notes
Notes receivable with due from evergrande of the part of subsidiary
provision for bad debts on a 2226877 1781502 80% due to difficult to pay or deterioration of cash
single item basis operations the provision for bad debts was
fully or partially accrued.Total 2226877 1781502
（2）Provision for bad debts accrued recovered or reversed in the current period
Provision for bad debts in the current period:
Unit: RMB
Amount of change in the current period
Opening
Category Transfer to Collect or Closing balance balance Provision Write-off Accounts
reversal
Receivable
Individual provision
20778806189973041781502
for bad debts
Total 20778806 18997304 1781502
（3）At the end of the period the company transferred the bills to accounts receivable due to the failure of the drawer to
perform
Unit: RMB
Item Amount of receivables transferred at the end of the period
Trade acceptance notes 27584466
Total 27584466
33CSG HOLDING CO. LTD. Financial Report of Semi-annual Report 2022
4.Accounts receivable
（1）Accounts receivable disclosed by category
Unit: RMB
End of term Beginning of term
Provision for bad Provision for bad
Carrying amount Carrying amount
debts debts
Category
Book value Prop Prop Book value
Propor Propo
Amount Amount Amount ortio Amount ortio
tion rtion
n n
Provision
for bad
debts on
18259484919%12058180166%6201304815993649319%10356669365%56369800
the
individual
basis
Provision
for bad
79619499481%159243752%78027061968791417181%137582842%674155887
debts by
portfolio
Total 978789843 100% 136506176 14% 842283667 847850664 100% 117324977 14% 730525687
Provision for bad debts on the individual basis:
Unit: RMB
Closing balance
Name Carrying Provision for
Proportion Reasons for withdrawal
amount bad debts
It mainly represented the goods receivable due from a
Provision for bad
client of the part of subsidiary due to business
debts on the 182594849 120581801 66%
dispute or deterioration of customer operations the
individual basis
provision for bad debts was fully or partially accrued.Total 182594849 120581801
Provision for bad debts by portfolio:
Unit: RMB
Closing balance
Name
Carrying amount Provision for bad debts Proportion
Portfolio 1 796194994 15924375 2%
Total 796194994 15924375
Disclosure by the aging of accounts receivable
Unit: RMB
Aging Closing balance
Within 1 year (including 1 year) 708817267
1 to 2 years 170870147
34CSG HOLDING CO. LTD. Financial Report of Semi-annual Report 2022
2 to 3 years 48962202
Over 3 years 50140227
Total 978789843
（2）Provision for bad debts accrued recovered or reversed in the current period
Provision for bad debts in the current period:
Unit: RMB
Amount of change in the current period
Opening Closing
Category
balance Bills receivable Collect or Provision Write-off balance
transferred in reversal
Accounts receivable
1173249776976393189973045880424912074136506176
bad debt provision
Total 117324977 6976393 18997304 5880424 912074 136506176
（3）Accounts receivable actually written off in the current period
Unit: RMB
Item Amount written off
Accounts receivable from subsidiaries 912074
（4）Top 5 of the closing balance of the accounts receivable collected according to the arrears party
Unit: RMB
Proportion in the total balance
Closing balance of accounts Ending balance of bad debt
Name of accounts receivable at the
receivable reserves
end of the period
Total balances for the five
32830813234%49011582
largest accounts receivable
Total 328308132 34%
5.Receivables financing
Unit: RMB
Item Closing balance Opening balance
Bank acceptance notes 582328808 297046123
Total 582328808 297046123
6. Advances to suppliers
（1）Listed by aging analysis
Unit: RMB
Closing balance Opening balance
Aging
Amount Proportion Amount
35CSG HOLDING CO. LTD. Financial Report of Semi-annual Report 2022
within1year 234152262 100% 74971763 98%
1 to 2years 618299 486849 1%
2 to 3years 35000 520498 1%
over 3 years 520498 118166
Total 235326059 76097276
（2）Top 5 of the closing balance of the advances to suppliers collected according to the target
Unit: RMB
Percentage in total advances to suppliers
Item Balance
balance
Total balances for the five largest advances to
13578075958%
suppliers
7. Other receivables
Unit: RMB
Item Closing balance Opening balance
Other receivables 201090652 183696711
Total 201090652 183696711
（1）Other receivables
1）Classification of other receivables by nature
Unit: RMB
Nature Closing book balance Opening book balance
Receivables from special fund for talent 171000000 171000000
Payments made on behalf of other parties 48887030 47686819
Advance payment (i) 10366164 10366164
Refundable deposits 19669918 9191412
Petty cash 1572171 497273
Others 13123214 8110638
Total 264618497 246852306
(i) It is the prepayment for materials of the subsidiary Yingde CBM Mining Co. Ltd. The prepayments accounts were transferred to
other receivables and the provision of the bad debts was provided individually.
2）Withdrawal of bad debt provision
Unit: RMB
Phase I Phase II Phase III
Expected credit loss Expected credit loss
Bad debt provision Expected credit for the entire duration for the entire duration Total
losses in the next 12
(no credit impairment (credit impairment
months
occurred) occurred)
Balance on1 January 2022 1166526 61989069 63155595
Balance on1 January 2022in
current period
36CSG HOLDING CO. LTD. Financial Report of Semi-annual Report 2022
Withdrawal 412069 412069
Recovery 15816 15816
Write-off 24003 24003
Balance on 30 June 2022 1538776 61989069 63527845
3）Disclosure by the aging of other receivables
Unit: RMB
Aging Closing balance
Within 1 year (including 1 year) 55141858
1 to 2 years 8856860
2 to 3 years 910743
Over 3 years 199709036
3 to 4 years 2619497
4 to 5 years 2042730
Over 5 years 195046809
Total 264618497
4）Provision for bad debts withdrawn recovered or reversed during the report period
Provision for bad debts:
Unit: RMB
Amount of change in the current period
Opening
Category Collect or Closing balance balance Provision Write-off Others
reversal
Provision for
bad debts of
63155595412069158162400363527845
other
receivables
Total 63155595 412069 15816 24003 63527845
5）Other receivables actually written off in the current period
Unit: RMB
Item Write-off amount
Other receivables 24003
6）Top 5 of the closing balance of the other accounts receivable collated according to the arrears party
Unit: RMB
Proportion in the
total balance of
Closing balance of
Name of Company Nature of business Closing balance Aging other receivables
bad debt provision
at the end of the
period
Independent third
171000000 Over 5 years 65% 51300000
Company A party
Governmental Independent third 24000000 Within 1 year 9% 480000
37CSG HOLDING CO. LTD. Financial Report of Semi-annual Report 2022
department B party
Governmental Independent third 11556004 Over 5 years 4% 231120
department C party
Independent third
Company D 10366164 Over 5 years 4% 10366164
party
Governmental Independent third
10000000 Within 1 year 4% 200000
department E party
Total 226922168 86% 62577284
8. Inventories
（1） Inventory classification
Unit: RMB
Closing balance Opening balance
Item Reserve for Reserve for Carrying Carrying
depreciation of Book value depreciation of Book value
amount amount
inventory inventory
Raw materials 697911751 976330 696935421 389937319 1002085 388935234
Products in
32012843320128432280143722801437
process
Products in
98444255518513149825912416328149815829059626985922
stock
Material in
55533224160330553728945548076439783255082932
circulation
Total 1769900373 2987974 1766912399 1101034501 7228976 1093805525
（2）Provision for decline in the value of inventories
单位：元
Increased in this term Decreased in this term
Opening
Item Reversal or Closing balance balance Provision Others Others
write off
Raw materials 1002085 25755 976330
Products in
582905939777451851314
stock
Material in
397832237502160330
circulation
Total 7228976 4241002 2987974
9.Other current assets
Unit: RMB
Item Closing balance Opening balance
VAT to be offset 50432826 128033622
Enterprise income tax prepaid 8211086 3771709
VAT input to be recognized 9956323 8888295
Others 16435 11672
Total 68616670 140705298
38CSG HOLDING CO. LTD. Financial Report of Semi-annual Report 2022
10. Investment property
（1）Investment real estate using cost measurement model
□Applicable √Not applicable
（2）Investment property with fair value measurement mode
√Applicable □ Not applicable
Unit: RMB
Houses buildings and related land use
Item Total
rights
I. Opening balance 383084500 383084500
II. Changes in the current period
III. Closing balance 383084500 383084500
11. Fixed assets
Unit: RMB
Item Closing balance Opening balance
Fixed assets 9336413529 8566515026
Total 9336413529 8566515026
（1）Particulars of fixed assets
Unit: RMB
Machinery and
Item Buildings Motor vehicles Total
equipment
I. Original book value:
1. Opening balance 4175491233 12040306471 257186014 16472983718
2. Increased amount of
the period
(1) Acquisition 2061137 21622510 8356693 32040340
(2) Transfers from
construction in 388181424 1841384996 6455298 2236021718
progress
(3)Increase in business
mergers
(4) Others 3107362 2009907 5117269
3. Decreased amount of
the period
(1) Disposal or
24335731222551738003138845939
retirement
(2) Transfer to
construction in 183920987 324752456 401729 509075172
progress
(3) Others 1721971 822894 180124 2724989
4. Closing balance 4379847479 13549623438 266046028 18195516945
II. Accumulative
39CSG HOLDING CO. LTD. Financial Report of Semi-annual Report 2022
Machinery and
Item Buildings Motor vehicles Total
equipment
depreciation
1. Opening balance 1129349070 5532791435 230711343 6892851848
2. Increased amount of
the period
(1) Provision 63927057 358444891 13123636 435495584
(2) Others 908372 287308 1195680
3. Decreased amount of
the period
(1) Disposal or
340345782357723201913048410
retirement
(2) Transfer to
construction in 47589170 240194191 299369 288082730
progress
(3) Others 372612 155946 6861 535419
4. Closing balance 1145280311 5646012204 236584038 7027876553
III. Impairment
provision
1. Opening balance 59901148 953451046 264650 1013616844
2. Increased amount of
the period
(1) Construction in
111232516730885926528767842647209
progress transferred in
3. Decreased amount of
the period
(1) Disposal or scrap 25037190 25037190
4. Closing balance 171133664 1659299782 793417 1831226863
IV. Book value
1. Closing book value 3063433504 6244311452 28668573 9336413529
2. Opening book value 2986241015 5554063990 26210021 8566515026
（2）Fixed assets with pending certificates of ownership
Unit: RMB
Reasons for not yet obtaining certificates
Item Carrying amount
of title
Have submitted the required documents
and are in the process of application or
Buildings 783783208
the related land use right certificate
pending
12. Construction in process
Unit: RMB
Item Closing balance Opening balance
Construction in process 2809337684 2461088650
Total 2809337684 2461088650
40CSG HOLDING CO. LTD. Financial Report of Semi-annual Report 2022
(1) Particulars of construction in process
Unit: RMB
Closing balance Opening balance
Item Provision for Provision for
Book balance impairment Book value Book balance Book value
impairment loss
loss
Yichang CSG
polysilicon
1535368156857890185677477971
tech-innovation
project
Anhui
Lightweight &
high-permeability
panel for solar
15412034711541203471765170527765170527
energy
equipment
manufacturing
base project
Qingyuan New
Materials Phase I
technical 221679025 94897537 126781488 297932280 174675600 123256680
transformation
project
Zhaoqing CSG
high-grade
energy saving 55183034 55183034 279138811 279138811
glass production
line project
Dongguan PV B
Building 450MW
PERC battery 186866743 184998076 1868667 186866743 184998076 1868667
technology
upgrade project
Tianjin
Energy-saving
Coating
9522503795225037
Production Line
Purchase and
Upgrade Project
Xianning CSG
1200T/D
Photovoltaic
Packaging 287738732 287738732 66449089 66449089
Material
Production Line
Project
Anhui Fengyang
quartz sand 253100 253100 56656483 56656483
project
Wujiang
70192064701920645176629551766295
Architectural
41CSG HOLDING CO. LTD. Financial Report of Semi-annual Report 2022
Closing balance Opening balance
Item Provision for Provision for
Book balance impairment Book value Book balance Book value
impairment loss
loss
Glass newly
building
intelligent
manufacturing
plant
construction
project
Wujiang Float
Lightweight and
High-efficiency
double-glass
1064681881064681883903291239032912
processing
production line
construction
project
LED Sapphire
32420412324204123242041232420412
Substrate Project
Zhaoqing CSG
high-grade
automobile glass 54688369 54688369 27941928 27941928
production line
project
Hebei Panel
Glass ultra-thin
electronic glass
75707997757079972439342124393421
Line II
construction
project
Dongguan solar
double-glass
extension
27450274327450274323898712389871
technology
transformation
upgrade project
Dongguan solar
light and
high-efficiency
double-glass
20009082000908551795551795
processing
production line
construction
project
Guangxi Beihai
Photovoltaic
Green Energy 3080041 3080041 382997 382997
Industry Park
(Phase I) Project
Hefei CSG 820064 820064
42CSG HOLDING CO. LTD. Financial Report of Semi-annual Report 2022
Closing balance Opening balance
Item Provision for Provision for
Book balance impairment Book value Book balance Book value
impairment loss
loss
Energy-saving
Glass Intelligent
Manufacturing
Industry Base
Project
Dongguan Solar
G6/G7 Line
Process and
2067901920679019
Equipment
Upgrading
Project
Others 212266126 24096327 188169799 275679766 26293600 249386166
Total 3145750036 336412352 2809337684 3737366523 1276277873 2461088650
43CSG HOLDING CO. LTD. Financial Report of Semi-annual Report 2022
(2) Changes in important construction projects in the current period
Unit: RMB
Including: Interest
Proportion Accumulate
amount capitaliz
Transfer to between d amount of
Opening Increased this Closing interest ation Fund
Project Budget fixed assets in engineering Progress Projects interest
balance term balance capitalizatio rate in recourse
this term input and capitalizatio
n in current current
budget n
period period
Yichang CSG
Internal
polysilicon
49520000 1535368156 1511107324 24260832 100% 100% fund and
tech-innovation bank loan
project
Anhui Lightweight
&
high-permeability Internal
panel for solar 3739020000 765170527 776565916 532972 1541203471 41% 85% 17468116 15022618 4.20% fund and
energy equipment bank loan
manufacturing
base project
Qingyuan New
Materials Phase I Internal
technical 534870000 297932280 4614306 363834 80503727 221679025 4% 4% fund and
transformation bank loan
project
Zhaoqing CSG
high-grade energy Internal
saving glass 500000000 279138811 27140143 251085070 10850 55183034 74% 89% 5405566 1250641 3.80% fund and
production line bank loan
project
Dongguan PV B
Building 450MW Internal
PERC battery 100990000 186866743 186866743 1% 3% fund and
technology bank loan
upgrade project
44CSG HOLDING CO. LTD. Financial Report of Semi-annual Report 2022
Including: Interest
Proportion Accumulate
amount capitaliz
Transfer to between d amount of
Opening Increased this Closing interest ation Fund
Project Budget fixed assets in engineering Progress Projects interest
balance term balance capitalizatio rate in recourse
this term input and capitalizatio
n in current current
budget n
period period
Tianjin
Energy-saving
Internal
Coating
114945000 95225037 5636400 100861437 100% 100% 2644397 1134116 4% fund and
Production Line bank loan
Purchase and
Upgrade Project
Xianning CSG
1200T/D
Photovoltaic Internal
Packaging 858090000 66449089 221289643 287738732 33% 65% 10778660 5655493 4.52% fund and
Material bank loan
Production Line
Project
Internal
Anhui Fengyang
1029300000 56656483 83192287 139595670 253100 14% 56% 1144948 1026584 4.55% fund and
quartz sand project bank loan
Wujiang
Architectural
Glass newly Internal
building intelligent 179140610 51766295 18921344 495575 70192064 40% 45% 819017 497923 3.85% fund and
manufacturing bank loan
plant construction
project
Wujiang Float
Lightweight and
High-efficiency
Internal
double-glass
158850000 39032912 69360586 1925310 106468188 67% 80% 1212348 824392 4% fund and
processing bank loan
production line
construction
project
LED Sapphire 35000000 32420412 32420412 93% 93% 4650543 Internal
45CSG HOLDING CO. LTD. Financial Report of Semi-annual Report 2022
Including: Interest
Proportion Accumulate
amount capitaliz
Transfer to between d amount of
Opening Increased this Closing interest ation Fund
Project Budget fixed assets in engineering Progress Projects interest
balance term balance capitalizatio rate in recourse
this term input and capitalizatio
n in current current
budget n
period period
Substrate Project fund and
bank loan
Zhaoqing CSG
high-grade Internal
automobile glass 609830000 27941928 26746441 54688369 9% 13% fund and
production line bank loan
project
Hebei Panel Glass
ultra-thin
Internal
electronic glass
284964800 24393421 51867735 553159 75707997 30% 50% 645947 645568 4.35% fund and
Line II bank loan
construction
project
Dongguan solar
double-glass
Internal
extension
143490000 2389871 272112872 274502743 57% 60% 461552 461552 3.56% fund and
technology bank loan
transformation
upgrade project
Dongguan solar
light and
high-efficiency
Internal
double-glass
76140000 551795 1449113 2000908 77% 100% fund and
processing bank loan
production line
construction
project
46CSG HOLDING CO. LTD. Financial Report of Semi-annual Report 2022
Including: Interest
Proportion Accumulate
amount capitaliz
Transfer to between d amount of
Opening Increased this Closing interest ation Fund
Project Budget fixed assets in engineering Progress Projects interest
balance term balance capitalizatio rate in recourse
this term input and capitalizatio
n in current current
budget n
period period
Guangxi Beihai
Photovoltaic Internal
Green Energy 4942051800 382997 2822610 125566 3080041 2% fund and
Industry Park bank loan
(Phase I) Project
Hefei CSG
Energy-saving
Internal
Glass Intelligent
210190000 820064 820064 fund and
Manufacturing bank loan
Industry Base
Project
Dongguan Solar
G6/G7 Line Internal
Process and 59260000 20679019 20679019 6% fund and
Equipment bank loan
Upgrading Project
Internal
Others 1320351179 275679766 173035132 229501367 6947405 212266126 297042 221232 fund and
bank loan
Total 14946003389 3737366523 1756253611 2236021718 111848380 3145750036 45528136 26740119
47CSG HOLDING CO. LTD. Financial Report of Semi-annual Report 2022
13. Right of use assets
Unit: RMB
Item Lease Land Rental housing Total
I. Original book value:
1. Opening balance 9770358 1897983 11668341
2. Increased amount of the
period
3. Decreased amount of the
period
(1) Others 473610 473610
4. Closing balance 9296748 1897983 11194731
II. Accumulative depreciation
1. Opening balance 942985 813421 1756406
2. Increased amount of the
period
(1) Provision 470592 406711 877303
3. Decreased amount of the
period
(1) Others 473610 473610
4. Closing balance 939967 1220132 2160099
III. Impairment provision
IV. Book value
1. Closing book value 8356781 677851 9034632
2. Opening book value 8827373 1084562 9911935
14. Intangible assets
(1) Particulars of intangible assets
Unit: RMB
Patents and Exploitation
Item Land use rights Others Total
know-how rights
I. Original book
value:
1. Opening balance 1169898169 428988220 5651751 46713240 1651251380
2. Increased amount
of this period
(1) Acquisition 62606655 2708775 65315430
48CSG HOLDING CO. LTD. Financial Report of Semi-annual Report 2022
Patents and Exploitation
Item Land use rights Others Total
know-how rights
(2) Internal R&D 8010026 8010026
(3) Others 165706 165706
3. Decreased amount
of the period
(1) Others 259999 259999
4. Closing balance 1232504824 436998246 5651751 49327722 1724482543
II.Accumulated
amortization
1. Opening balance 230710042 194971917 4591610 40155929 470429498
2. Increased amount
of this period
(1) Provision 12270060 16414041 91729 2632668 31408498
3. Decreased amount
of the period
(1) Others 91001 91001
4. Closing balance 242980102 211385958 4683339 42697596 501746995
III. Impairment
provision
1. Opening balance 13201347 9133 13210480
2. Closing balance 13201347 9133 13210480
IV. Book value
1. Closing book value 989524722 212410941 968412 6620993 1209525068
2. Opening book
939188127220814956106014165481781167611402
value
At the end of the period the intangible assets arising from internal research and development accounted for 20.07% of total of
intangible assets.
(2) Land use rights without property right certificates
Unit: RMB
Reason for not yet obtaining certificates
Item Book value
of title
Land use rights 4903343
As at June 30 2022 ownership certificates of land use right (“Land ownership Certificates”) for certain land use rights of the Group
with carrying amounts of approximately RMB4903343 (cost: RMB6685352) had not yet been obtained by the Group (as at
December 31 2021 carrying amount: RMB4963913 cost: RMB6685352). The Company’s management is of the view that there is
no legal restriction for the Group to apply for and obtain the Land Ownership Certificates and has no adverse effect on the Group’s
business operation.
49CSG HOLDING CO. LTD. Financial Report of Semi-annual Report 2022
15. Development expenditure
Unit: RMB
The increased amount in the
The decrease amount in the period
period
Opening
Item Recognized as Transfer to Closing balance
balance Internal
development Others intangible current profit
expenditure assets and loss
Development
7201936227709486801002691718822
expenditure
Total 72019362 27709486 8010026 91718822
During Jan.-Jun. 2022 the total amount of research and development expenditures of the Group was RMB 293587416 (Jan.-Jun.
2021: RMB 235137041) including RMB265877930 (Jan.-Jun. 2021: RMB 224886882) recorded in income statement for current
period and the research and development expenditure with the amount of RMB 8010026 recognized as intangible assets for the
current period (Jan.-Jun. 2021: 1247970). At June 30 2022 the intangible assets arising from internal research and development
accounted for 20.07% of total of intangible assets (31 December 2021: 20.47%).
16. Goodwill
(1) Book value of goodwill
Unit: RMB
Name of the companies Opening balance Increased this term Decreased this term Closing balance
Tianjin CSG
Energy-Saving Glass 3039946 3039946
Co. Ltd.Xianning CSG
48574064857406
Photoelectric
Shenzhen CSG Display 389494804 389494804
Total 397392156 397392156
(2) Goodwill impairment provision
Unit: RMB
Name of the companies Opening balance Increased this term Decreased this term Closing balance
Shenzhen CSG
267244297267244297
Displayer
Total 267244297 267244297
50CSG HOLDING CO. LTD. Financial Report of Semi-annual Report 2022
17. Long-term prepaid expenses
Unit: RMB
Item Opening balance Increased this term Amortized this term Other decreases
Expenses to be
30137215101452898453234021
amortized
Total 3013721 510145 289845 3234021
18. Deferred income tax assets/deferred income tax liabilities
(1) Unoffset deferred income tax assets
Unit: RMB
Closing balance Opening balance
Item
Deductible temporary Deferred income tax Deductible temporary Deferred income tax
difference assets difference assets
Provision for asset
9009127681363752951005602209152036386
impairments
Deductible loss 309731654 59171312 621359522 106718563
Government grants 167900580 25975215 165972475 25755549
Accrued expenses 6019406 902911 7908397 1186260
Inventory unrealized
409521026091553507976137619642
profit
Depreciation of fixed
67473650143442756555630913582668
assets
Total 1492990160 242860561 1917196525 306899068
(2)Unoffset deferred income tax liabilities
Unit: RMB
Closing balance Opening balance
Deductible
Item Deferred income tax Deductible temporary Deferred income tax
temporary
liabilities difference liabilities
difference
Depreciation of fixed assets 533523643 81918910 527215830 80756420
Changes in fair value of
3702457135553685737024571355536857
investment property
Total 903769356 137455767 897461543 136293277
51CSG HOLDING CO. LTD. Financial Report of Semi-annual Report 2022
(3) The net balances of deferred tax assets or liabilities
Unit: RMB
Off-set amount of Closing balance of Off-set amount of Opening balance of
deferred income tax deferred income tax deferred income tax deferred income tax
Item
assets and liabilities at assets or liabilities assets and liabilities at assets or liabilities after
the period-end after off-set the period-beginning off-set
Deferred tax assets 46199114 196661447 51713145 255185923
Deferred tax liabilities 46199114 91256653 51713145 84580132
(4) Details of unrecognized deferred income tax assets
Unit: RMB
Item Closing balance Opening balance
Deductible losses 2046255537 2045391888
Total 2046255537 2045391888
(5) Deductible losses of unrecognized deferred income tax assets will due the following years
Unit: RMB
Year Closing balance Opening balance Note
Year of 2022 83303539 83303539
Year of 2023 146238837 146238837
Year of 2024 178208832 178208832
Year of 2025 939085536 939085536
Year of 2026 698555144 698555144
Year of 2027 863649
Total 2046255537 2045391888
19. Other non-current assets
Unit: RMB
Closing balance Opening balance
Item Impairment Impairment
Book balance Book value Book balance Book value
provision provision
Prepayment of
engineering 361724043 361724043 469352622 469352622
equipment
Prepayment for
lease of land use 64250000 64250000 14810000 14810000
rights
Large-denominati 100000000 100000000 100000000 100000000
52CSG HOLDING CO. LTD. Financial Report of Semi-annual Report 2022
on certificates of
deposit
Total 525974043 525974043 584162622 584162622
20. Short-term borrowings
(1) Classification of short-term borrowings
Unit: RMB
Item Closing balance Opening balance
Guaranteed loan 168108522 80770000
Unsecured loan 300000000 100000000
Total 468108522 180770000
(i)On June 30 2022 the Company provided guarantees for short-term loans of RMB168108522 (31 December 2021: RMB
80770000).
(ii) On June 30 2022 the interest rate range of Short-term borrowings is 2.70% - 4.05% (December 31 2021: 3.40% - 3.90%).
21. Notes payable
Unit: RMB
Item Closing balance Opening balance
Trade acceptance notes 145475638 107571279
Bank acceptance notes 404463990 293091434
Total 549939628 400662713
22. Contract liabilities
Unit: RMB
Item Closing balance Opening balance
Contract liabilities 413885125 335188642
Total 413885125 335188642
23. Accounts payable
(1) List of accounts payable
Unit: RMB
Item Closing balance Opening balance
Materials payable 945889859 665770883
53CSG HOLDING CO. LTD. Financial Report of Semi-annual Report 2022
Equipment payable 244832123 268623795
Construction expenses payable 433608433 372802783
Freight payable 78993780 68894843
Utilities payable 88134291 47260003
Others 5474045 5499005
Total 1796932531 1428851312
(2) Significant accounts payable due for over one year
Unit: RMB
Item Closing balance Unpaid reason
The final account of the project has not been
Construction and equipments 172773389
completed so it has not been settled.Total 172773389
24. Employee benefits payable
(1) List of employee benefits payable
Unit: RMB
Item Opening balance Increased this term Decreased this term Closing balance
I. Short-term employee benefits
4260272598812171231019531915287712467
payable
II. Welfare after departure-
11722734170247341207116675
defined contribution plans
III.Termination benefits 173998 1462816 1636814
Total 426212979 956096963 1094580800 287729142
(2) List of short-term employee benefits
Unit: RMB
Item Opening balance Increased this term Decreased this term Closing balance
1. Wages and salaries bonuses
402716350818189015958424388262480977
allowances and subsidies
2. Social security contributions 5808 31093375 31087818 11365
Including: Medical insurance 5097 27629935 27624254 10778
Work injury insurance 291 2411059 2410763 587
Maternity insurance 420 1052381 1052801
54CSG HOLDING CO. LTD. Financial Report of Semi-annual Report 2022
3. Housing funds 958798 22181389 21933449 1206738
4.Labour union funds and
223463039753344808626024013387
employee education funds
Total 426027259 881217123 1019531915 287712467
(3) List of defined contribution plans
Unit: RMB
Item Opening balance Increased this term Decreased this term Closing balance
1. Basic pensions 11644 71000361 70995998 16007
2. Unemployment
7824166632416073668
insurance
Total 11722 73417024 73412071 16675
25. Tax payable
Unit: RMB
Item Closing balance Opening balance
Value-added-tax payable 63220964 77539743
Corporate income tax payable 63421971 81469865
Individual income tax payable 5291100 4947559
City maintenance and construction tax 4221243 5853393
Property tax 9979982 4126693
Education surcharge 3232672 4662534
Environmental tax 1308540 1674797
Others 3975678 4735097
Total 154652150 185009681
26. Other payables
Unit: RMB
Item Closing balance Opening balance
Interest payable 36640548 95001362
Other payables 185226388 194439115
Total 221866936 289440477
(1) Interest payable
Unit: RMB
55CSG HOLDING CO. LTD. Financial Report of Semi-annual Report 2022
Item Closing balance Opening balance
Interest on long-term loans with interest
paid by installments and principal repaid 3722120 2558374
at maturity
Interest payable for short-term
660363184923
borrowings
Interest for corporate bonds 32258065 92258065
Total 36640548 95001362
(2) Other payables
1) Listing other payables by nature of the payment
Unit: RMB
Item Closing balance Opening balance
Guarantee deposits received from
101021553101467608
construction contractors
Accrued operating costs and expenses(i) 39421751 51592989
Payable for contracted labour costs 22061379 21273645
Temporary receipts 9630262 6033599
Guarantee for disabled 6727370 5796364
Others 6364073 8274910
Total 185226388 194439115
(i) This item mainly includes various expenses incurred but not yet obtained an invoice at the end of the period including utilities
professional service fees travel expenses etc.
27. Non-current liabilities due within one year
Unit: RMB
Item Closing balance Opening balance
Bonds payable due within one year 1997931024
Long-term borrowings due within 1 year 335498431 466098352
Long-term payables due within one year 37830760 36865104
Lease liabilities due within one year 653324 857092
Total 2371913539 503820548
28. Other current liabilities
Unit: RMB
Item Closing balance Opening balance
56CSG HOLDING CO. LTD. Financial Report of Semi-annual Report 2022
Output tax to be transferred 47430142 39799309
Others 300000 300000
Total 47730142 40099309
29. Long-term borrowings
(1) Classification of long-term borrowings
Unit: RMB
Item Closing balance Opening balance
Guaranteed 1916136468 779059824
Credit loan 1245000000 690000000
Total 3161136468 1469059824
As at 30 June 2022 the interest of long-term borrowings varied from 2.95%-4.60% (31 December 2021: 4%-4.6%).
30. Bonds payable
(1) Bonds payable
Unit: RMB
Item Closing balance Opening balance
Bonds payable 1996587330
Total 1996587330
(2) Increase or decrease of bonds payable (excluding preferred shares perpetual bonds and other financial instruments
classified as financial liabilities)
Unit: RMB
Issu Amortizat Curr
Fac Reclassified
e in Interest ion of ent Clos
e Issue Amount of Opening to non-current ing
Name Term the accrued at premium repa liabilities due
val date issue balance bala
peri face value and yme within one nce
ue year
od discount nt
2020-3-
20
24 to 3
CSG 100 2000000000 1996587330 60000000 1343694 1997931024
2020-3- years
01
25
In March 2020 with the approval of China Securities Regulatory Commission the company was approved to publicly issue 2020
corporate bonds (phase I) to qualified investors with a face value of RMB 100 an issue amount of RMB 2 billion a term of 3 years
(annual interest payment and principal repayment at maturity) and a coupon rate of 6%; The issuance date is from March 24 2020 to
March 25 2020 and the value date is March 25 2020.
57CSG HOLDING CO. LTD. Financial Report of Semi-annual Report 2022
31.Lease liability
Unit: RMB
Item Closing balance Opening balance
Lease liability 220138
Total 220138
32.Long-term payables
Unit: RMB
Item Closing balance Opening balance
Long-term payables 149062955 168258062
Total 149062955 168258062
（1）Long-term payables by nature of payment
Unit: RMB
Item Closing balance Opening balance
Finance lease payable 149062955 168258062
33. Deferred income
Unit: RMB
Increase in current decrease in current
Item Opening balance Closing balance
period period
Government grants 564129128 3000000 71815510 495313618
Total 564129128 3000000 71815510 495313618
Projects involving government subsidies:
Unit: RMB
Account to other Related to
Increase in Closing
Item in debt Opening balance income in this assets or
current period balance
period income
Tianjin CSG Golden Sun Project Assets
40217551168744638530105
(i) related
Dongguan CSG Golden Sun Assets
32324250137550030948750
Project (ii) related
Hebei CSG Golden Sun Project Assets
33000000137500031625000
(iii) related
Xianning CSG Golden Sun Assets
35860917151525034345667
Project (iv) related
58CSG HOLDING CO. LTD. Financial Report of Semi-annual Report 2022
Account to other Related to
Increase in Closing
Item in debt Opening balance income in this assets or
current period balance
period income
Infrastructure compensation for Assets
23462746202076921441977
Wujiang CSG Glass Co. Ltd (v) related
Qingyuan Energy-saving project Assets
1090916712350009674167
(vi) related
Yichang Silicon products project Assets
1054687514062509140625
(vii) related
Yichang CSG silicon slice Assets
19100966250000099127220609694
auxiliary project (viii) related
Sichuan energy-saving glass Assets
38593808270103032370
project (ix) related
Group coating film experimental Assets
15000001875001312500
project (x) related
Yichang high purity silicon Assets
24176191515892266030
material project (xi) related
Yichang semiconductor silicon Assets
2866666666672799999
material project (xii) related
Yichang CSG Display project Assets
40565357133390639231451
(xiii) related
Xianning Photoelectric project Assets
62400001341626105838
(xiv) related
Shenzhen medical equipment Assets
71780005820006596000
subsidy project(xv) related
Hebei float emission reward Assets
93554143668798988535
(xvi) related
Income
Group talent fund project (xvi) 171000000 171000000
related
Zhaoqing energy saving industry Income
872557115457990532675806
support fund project(xvii) related
Assets
Others 26468509 500000 1979405 24989104
related
Total 564129128 3000000 71815510 495313618
(i) The allowance was granted by Tianjin Municipal Government. The allowance was used for establishing PV power station by
Tianjin Energy Conservation Company. The facilities belonged to Tianjin Energy Conservation Company. The allowance will be
credited to income statement in 20 years the useful life of the PV power station.(ii) The allowance was granted by Dongguan Municipal Government. The allowance was used for establishing PV power station
by Dongguan CSG Architectural Glass Co. Ltd. The facilities belonged to Dongguan CSG upon completion. The allowance will be
credited to income statement in 20 years the useful life of the PV power station.
59CSG HOLDING CO. LTD. Financial Report of Semi-annual Report 2022
(iii) The allowance was granted by Langfang Municipal Government. The allowance was used for establishing PV power station by
Hebei CSG Glass Co. Ltd. ("Hebei CSG"). When the facilities were set up they belonged to Hebei CSG. The allowance will be
credited to income statement in 20 years the useful life of the PV power station.(iv) The allowance was granted by Xianning Municipal Government. The allowance was used for establishing PV power station by
Xianning CSG Glass Co Ltd. The facilities belonged to Xianning CSG upon completion. The allowance will be credited to income
statement in 20 years the useful life of the PV power station.(v) The allowance was infrastructure compensation granted by Wujiang municipal government and will be credited to income
statement in 15 years the shortest operating period as committed by the Group.(vi) The allowance was granted by Guangdong Province and which was a pilot project for strategic emerging industry clusters
development and was used to establish high performance ultra-thin electronic glass production lines by Qingyuan CSG. The
allowance will be credited to income statement in 10 years the useful life of the production line.(vii) The balance represented amounts granted to Yi Chang CSG polysilicon Materials Co. Ltd. by Yichang City Dongshan
Development Corporation under the provisions of the investment contract signed between the Group and the Municipal Government
of Yi Chang. The proceeds were designed for the construction of electricity transformer and the pipelines. Yichang polysilicon is
entitled to the ownership of the facilities which will be amortised by 16 years according to the useful life of the converting station.(viii) It represented the government supporting fund obtained by Yichang polysilicon from the acquiring of the assets and liabilities
of Crucible project of Yichang Hejing Photoelectric Ceramic Co. Ltd. The proceeds would be amortised and credited to income
statement by 16 years after related assets were put into use.(ix) It represented the funds granted by Chengdu local government for energy glass project. It will be amortised and credited to
income statement in 15 years in accordance with the minimum operating period committed by the Group.(x) The allowance was granted by Shenzhen City Development and Reform Commission for the development of Group Coating
Film experimental project. The grant will be amortised and credited to income statement in the estimated useful life of the relevant
fixed assets.(xi) It represented the funds granted by Hubei local government for inport discount complement and international corporation
special subsidy. The grant will be amortised and credited to income statement by 12 to 15 years.(xii) It represented the special subsidy of Yichang National Regional Strategic Emerging Industry Development Pilot Project II
which is used to complement Yichang CSG PolysSilicon “Hubei semiconductor silicon preparative technique project laboratory”.The grant will be amortised and credited to income statement by 15 years.(xiii) It represented the funds granted by Yichang Municipal Government for Yichang CSG Display Company's flat project
construction support funds and construction of coil coating three-line project. The grant will be amortised and credited to income
statement by 15 years.(xiv) It represented the funds granted by Xianning Government of the Project supporting fund for photoconductive glass production
linewhich is used to pay for Xianning CSG Glass Co. Ltd. constructing the project of photoelectric photoelectric optical glass
production line . After the completion of the production line the ownership belongs to Xianning photoelectric. The allowance will be
credited to income statement in 8 years the useful life of the production line.(xv) The allowance was granted by Shenzhen Municipal Government. The allowance was used for the production line of epidemic
prevention materials for Shenzhen CSG Medical Technology Co. Ltd. The facilities belonged to Shenzhen CSG Medical Technology
Co. Ltd upon completion. The allowance will be credited to income statement with the useful life of the production line.(xvi) The allowance was granted by Administrative Commission of Yongqing County Ecological Environment Bureau.and Hebei
CSG. is used to produce line drop emission transformation and the grant will be amortised and credited to income statement in the
residual life of the relevant fixed assets.(xvii) The allowance was granted by Administrative Commission of Yichang High-tech Industrial Development Zone. For senior
management personnel engineering technical personnel and senior professional technical team who are working at Yichang or plane
to introduction RMB171 million fund was set up as a special fund for talent introduction and housing resettlement.
60CSG HOLDING CO. LTD. Financial Report of Semi-annual Report 2022
(xviii) The allowance was granted by Administrative Commission of Guangdong Provincial Department of Finance is a
provincial industry to jointly establish financial support funds which is used to Z the development of enterprises production and
operation and other expenditure for Zhaoqing Energy Saving Company.
34. Share Capital
Unit: RMB
Changed in the report period(+-)
Item Opening balance Transferred Closing balance
New issues Bonus issue Others Sub-total
from reserves
Total of
30706921073070692107
capital shares
35. Capital surplus
Unit: RMB
Item Opening balance Increased this term Decreased this term Closing balance
Capital premium (share
655424260655424260
premium)
Other capital surplus -58427175 -58427175
Total 596997085 596997085
36. Other comprehensive income
Unit: RMB
Occurring in current period
After-tax After-tax
Opening Amount
Item incurred Less: income attribute to the attribute to Closing balance balance
before income tax expense parent minority
tax
company shareholder
I. Other
comprehensive
income items which
can not be
reclassified to profit
or loss
II. Other
comprehensive
income items which 159200530 6167540 6167540 165368070
will be reclassified
to profit or loss
Differences on
-4501267616754061675401666273
translation of
61CSG HOLDING CO. LTD. Financial Report of Semi-annual Report 2022
foreign currency
financial statements
Finance incentives
for energy and
25500002550000
technical
transformation
Income from
conversion of self
use real estate and
161151797161151797
land use right into
investment real
estate
Total of other
comprehensive 159200530 6167540 6167540 165368070
income
37. Special reserves
Unit: RMB
Item Opening balance Increased this term Decreased this term Closing balance
Safety production cost 7296397 4853948 10297642 1852703
Total 7296397 4853948 10297642 1852703
38. Surplus reserves
Unit: RMB
Item Beginning of term Increased this term Decreased this term End of term
Statutory surplus
10170349421017034942
reserve
Discretionary surplus
127852568127852568
reserve
Total 1144887510 1144887510
39. Undistributed profits
Unit: RMB
Item The current period The same period of last year
Retained earnings at the end of the previous term
64505874175336266412
before adjustment
Retained earnings at the beginning of this term
64505874175336266412
after adjustment
62CSG HOLDING CO. LTD. Financial Report of Semi-annual Report 2022
Add: net profits belonging to equity holders of the
10011743981352517465
Company
Less: Common stock dividends payable 614138421 307069211
Retained earnings in the end 6837623394 6381714666
40. Revenue and cost of sales
Unit: RMB
Occurred in current term Occurred in previous term
Item
Revenue Cost Revenue Cost
Revenue from main operations 6421792209 4599587540 6549257796 4117364759
Revenue from other operations 97424467 38058387 65544742 9262386
Total 6519216676 4637645927 6614802538 4126627145
41. Tax and surcharge
Unit: RMB
Item Occurred in current term Occurred in previous term
City maintenance and construction tax 15694124 20244886
Educational surcharge 13036606 17918346
Housing property tax 17222873 16177724
Land use rights 8675097 11475052
Stamp tax 3840095 3873467
Environmental protection tax 2206638 3569685
Others 605189 706894
Total 61280622 73966054
42. Sales expenses
Unit: RMB
Item Occurred in current term Occurred in previous term
Freight expenses 2557634 5430828
Employee benefits 92473703 82609837
Entertainment expenses 5362131 10768857
Business travel expenses 2856337 4144027
Vehicle use fee 4488510 3994805
Rental expenses 4437109 3608518
Depreciation expenses 396591 386840
Insurance premium 8951501 1943539
63CSG HOLDING CO. LTD. Financial Report of Semi-annual Report 2022
Others 12383136 12438764
Total 133906652 125326015
43. Administrative expenses
Unit: RMB
Item Occurred in current term Occurred in previous term
Employee benefits 194016411 205775425
Depreciation expenses 29261329 30558014
Amortization of intangible assets 31408498 31383145
General office expenses 13393317 14283686
Labour union funds 9792599 9143124
Entertainment fees 8507539 8583533
Business travel expenses 2194600 3293171
Utility fees 2955260 2661302
Canteen fee 4624155 3737420
Vehicle use fee 3213151 2818991
Consulting advisers 3470195 7243698
Others 15798758 35433195
Total 318635812 354914704
44. Research and development expenses
Unit: RMB
Item Occurred in current term Occurred in previous term
Research and development expenses 265877930 224886882
Total 265877930 224886882
45. Finance expenses
Unit: RMB
Item Occurred in current term Occurred in previous term
Interest on borrowings 118724723 103386761
Less: Capitalised interest 26740119 1416342
Interest expenses 91984604 101970419
Less: Interest income 30756704 20024847
Exchange losses -210284 3871530
64CSG HOLDING CO. LTD. Financial Report of Semi-annual Report 2022
Others 1779736 1182897
Total 62797352 86999999
46. Other income
Unit: RMB
Source of other gains Occurred in current term Occurred in previous term
Government subsidy amortization 71815510 16158100
Industry support funds 1500000 1782700
Government incentive funds 17203284 11750470
Research grants 2196600 2129180
Others 6587158 4733354
Total 99302552 36553804
47. Investment income
Unit: RMB
Item Occurred in current term Occurred in previous term
Structural deposit income 14478503 3075863
Fixed deposit income 1935192 596467
Total 16413695 3672330
48. Credit impairment losses
Unit: RMB
Item Occurred in current term Occurred in previous term
Losses on bad debts of other receivables -396253 -110593
Losses on bad debts of accounts receivable -1095969 -2413455
Total -1492222 -2524048
49. Asset impairment losses
Unit: RMB
Item Occurred in current term Occurred in previous term
1.Decline in the value of inventories 1456
2.Impairment loss of fixed assets -26753082
Total 1456 -26753082
65CSG HOLDING CO. LTD. Financial Report of Semi-annual Report 2022
50. Asset disposal income
Unit: RMB
Source of income from assets disposal Occurred in current term Occurred in previous term
Gains and losses on disposal of non current assets 12745461 137638
Total 12745461 137638
51. Non-operating income
Unit: RMB
Amount of non-recurring gain
Item Occurred in current term Occurred in previous term and loss included in the report
period
Compensation income 45951 2504317 45951
Amounts unable to pay 3861020 2998725 3861020
Insurance claim 9040000 525484 9040000
Others 2186007 1523272 2186007
Total 15132978 7551798 15132978
52. Non-operating expenses
Unit: RMB
Amount of non-recurring gain
Item Occurred in current term Occurred in previous term and loss included in the report
period
Donation expenditure 1731127 265306 1731127
Compensation 599074 599074
Financial aid refund 74583 15028336 74583
Others 1255286 1168343 1255286
Total 3660070 16461985 3660070
53. Income tax expenses
(1) List of income tax expenses
Unit: RMB
Item Occurred in current term Occurred in previous term
Current income tax expenses 103724527 260737212
Deferred income tax expenses 65200997 -5456922
Total 168925524 255280290
66CSG HOLDING CO. LTD. Financial Report of Semi-annual Report 2022
(2) Adjustment process of accounting profit and income tax expense
Unit: RMB
Item Occurred in current term
Total profit 1177516231
Current income tax expense accounted by tax and relevant
181726624
regulations
Adjusting the effect of prior period income tax -3872718
Impact of non-deductible costs expenses and losses 851340
Impact on the use of deductible loss of deferred income tax
-5210915
assets not recognized in previous period
Influence deductible losses of unrecognized deferred income
129547
tax assets
Impact of tax incentives -4698354
Income tax expenses 168925524
54. Other comprehensive income
See the note for details.
55. Items of the cash flow statement
(1) Cash received relating to other operating activities
Unit: RMB
Item Occurred in current term Occurred in previous term
Interest income 30756704 20024847
Government grant 30487042 113114204
Others 25992822 45686124
Total 87236568 178825175
(2) Cash paid relating to other operating activities
Unit: RMB
Item Occurred in current term Occurred in previous term
Freight expenses 3928266 7337545
General office expenses 19162389 21928236
Business travel expenses 7379731 9925103
Entertainment fees 16277475 20105592
Vehicle use fee 8129592 6874692
67CSG HOLDING CO. LTD. Financial Report of Semi-annual Report 2022
Maintenance fee 13668199 10878076
Rental expenses 10391291 11665203
Insurance 22824587 7889601
Commission 1610434 1182897
Consulting fees 6193327 5050890
Others 94303923 143938799
Total 203869214 246776634
(3) Other cash received related to investment activities
Unit: RMB
Item Occurred in current term Occurred in previous term
Deposit 26124986
Income from trial production of
6011365
construction in progress
Total 32136351
(4) Other cash paid related to investment activities
Unit: RMB
Item Occurred in current term Occurred in previous term
Trial production expenditure in
6911853
construction
Investment Deposit and Margin 19138102
Total 19138102 6911853
(5) Other cash received related to financing activities
Unit: RMB
Item Occurred in current term Occurred in previous term
Collection of A/B share tax 206753
Total 206753
(6) Other cash paid related to financing activities
Unit: RMB
Item Occurred in current term Occurred in previous term
Repay financing leases 23022757
Withholding tax on A/B shares etc. 1142255 390507
Total 24165012 390507
68CSG HOLDING CO. LTD. Financial Report of Semi-annual Report 2022
56. Supplement information to the cash flow statement
(1) Supplement information to the cash flow statement
Unit: RMB
SupplementaryInfo. Amount of this term Amount of last term
1. Reconciliation from net profit to cash flows from operating
activities
Net profit 1008590707 1368977904
Add: Provisions for assets impairment -1456 26753082
Credit impairment loss 1492222 2524048
Depreciation of fixed assets depletion of oil and gas assets
435495584448555136
depreciation of productive biological assets
Depreciation of right-of-use assets 877303 471792
Amortization of intangible assets 31408498 31383145
Amortization of long-term prepaid expenses 289845 163410
Losses on disposal of fixed assets intangible assets and other
-12745461-137638long-term assets (“- “for gains)Finance expenses (“- “for gains) 91984604 101970419Investment loss (“- “for gains) -16413695 -3672330Decrease in deferred income tax assets (“- “for increase) 58524476 -8575782Increase of deferred income tax liability (“- “for decrease) 6676521 3118860Decrease of inventory (“- “for increase) -668865872 -236251630Decrease of operational receivable items (“- “for increase) -544965419 -260405962Increase of operational payable items (“- “for decrease) 505601316 224537331Others 4853948 -1166410
Net cash flow generated by business operation 902803121 1698245375
2. Net change of cash and cash equivalents
Balance of cash at the end of the period 2863965769 1647672831
Less: Initial balance of cash 2756477572 2124028196
Net increasing of cash and cash equivalents 107488197 -476355365
(2) Formation of cash and cash equivalents
Unit: RMB
Item Closing balance Opening balance
I. Cash 2863965769 2756477572
69CSG HOLDING CO. LTD. Financial Report of Semi-annual Report 2022
Incl: Cash on hand 130
Bank deposits that can be readily
25239656402453477573
drawn on demand
Other cash balances that can be
339999999302999999
readily drawn on demand
II. Balance of cash and cash equivalents at the
28639657692756477572
end of the period
57. Assets with restricted ownership or use rights
Unit: RMB
Item Ending book value Reason for restriction
Monetary assets 6076772 Circulation of margin etc. is restricted
Fixed assets 148986093 Financial leasing is restricted
Total 155062865
58. Foreign currency monetary items
(1) Foreign currency monetary items
Unit: RMB
Closing balance of foreign Closing
Item Exchange rate
currency balance convert to RMB
Cash at bank and on hand 56375983
Incl： USD 6088330 6.7114 40861221
EUR 890687 7.0084 6242290
HKD 10827830 0.8552 9259960
AUD 797 4.6145 3680
JPY 16395 0.0491 805
SGD 1666 4.8170 8027
Accounts receivable 72743784
Incl： USD 9720348 6.7114 65237143
EUR 834785 7.0084 5850510
HKD 1936542 0.8552 1656131
Accounts payable 38601456
Incl： USD 5422812 6.7114 36394660
EUR 188656 7.0084 1322176
HKD 736623 0.8552 629960
JPY 3363707 0.0491 165158
70CSG HOLDING CO. LTD. Financial Report of Semi-annual Report 2022
Closing balance of foreign Closing
Item Exchange rate
currency balance convert to RMB
GBP 11000 8.1365 89502
59. Government subsidy
(1) Basic situation of government subsidies
Unit: RMB
Amount included in current
Type Amount Presentation item
profit and loss
Government subsidy
71815510 Other income 71815510
amortization
Other government subsidies 27487042 Other income 27487042
(2) Return of government subsidies
√Applicable □ Not applicable
Unit: RMB
Item Amount Reason
Shenzhen float high-strength
ultra-thin glass industrialization 74583
research project
VIII. The changes of consolidation scope
1. Changes in scope of consolidation for other reasons
On February 14 2022 the Group set up a subsidiary Yichang CSG New Energy Material Technology Co.Ltd.(hereinafter referred to as " Yichang New Energy Materials Co. Ltd "). As of June 30 2022 the Group had made a
monetary contribution of RMB 1 million.IX. Equity in other entities
1. Equity in subsidiary
(1) Composition of the Group
Shareholding
Major business Place of Way of
Name of subsidiary Scope of business (%)
location registration acquisition
Direct Indirect
Chengdu CSG Chengdu PRC Chengdu PRC Development production and sales of 75% 25% Establishment
71CSG HOLDING CO. LTD. Financial Report of Semi-annual Report 2022
special glass
Sichuan CSG Energy Development production and sales of
Chengdu PRC Chengdu PRC 75% 25% Split-off
Conservation special glass and processing of glass
Tianjin Energy Development production and sales of
Tianjin PRC Tianjin PRC 75% 25% Establishment
Conservation special glass
Dongguan CSG
Dongguan PRC Dongguan PRC Intensive processing of glass 75% 25% Establishment
Engineering
Dongguan CSG Solar Dongguan PRC Dongguan PRC Production and sales of solar glass 75% 25% Establishment
Dongguan CSG Production and sales of hi-tech green
Dongguan PRC Dongguan PRC 100% Establishment
PV-tech battery and components
Yichang CSG Production and sales of high-purity silicon
Yichang PRC Yichang PRC 75% 25% Establishment
Polysilicon materials
Wujiang CSG
Wujiang PRC Wujiang PRC Intensive processing of glass 75% 25% Establishment
Engineering
Hebei CSG Yongqing PRC Yongqing PRC Production and sales of special glass 75% 25% Establishment
Wujiang CSG Wujiang PRC Wujiang PRC Production and sales of special glass 100% Establishment
China Southern Glass Hong Kong Hong Kong
Investment holding 100% Establishment
(Hong Kong) PRC PRC
Xianning CSG Xianning PRC Xianning PRC Production and sales of special glass 75% 25% Establishment
Xianning CSG
Xianning PRC Xianning PRC Intensive processing of glass 75% 25% Split-off
Energy-Saving
Qingyuan CSG Production and sales of ultra-thin
Qingyuan PRC Qingyuan PRC 100% Establishment
Energy-Saving electronic glass
Shenzhen CSG
Financial Leasing Co. Shenzhen PRC Shenzhen PRC Finance leasing etc. 75% 25% Establishment
Ltd.Jiangyou CSG Mining
Production and sales of silica and its
Development Co. Jiangyou PRC Jiangyou PRC 100% Establishment
by-products
Ltd.Shenzhen CSG Production and sales of display component
Shenzhen PRC Shenzhen PRC 60.8% Acquisition
Display products
Zhaoqing
Zhaoqing PRC Zhaoqing PRC Production and sales of special glass 100% Establishment
Energy-SavingGlass
Zhaoqing Automobile
Zhaoqing PRC Zhaoqing PRC Production and sales of special glass 100% Establishment
Glass
Develop manufacture and sell key
Anhui CSG New
Fengyang PRC Fengyang PRC materials or complete sets of equipment 100% Establishment
Energy Materials
for new energy power generation
72CSG HOLDING CO. LTD. Financial Report of Semi-annual Report 2022
Anhui CSG New Quartzite mining processing purification
Fengyang PRC Fengyang PRC 100% Establishment
Quartz material sales
Anhui Mining Fengyang PRC Fengyang PRC Mining of mineral resources 60% Establishment
Xi'an Energy-saving Xi'an PRC Xi'an PRC Production and sales of special glass 55% 45% Establishment
Guangxi new energy
Longgang PRC Longgang PRC Production and sales of special glass 75% 25% Establishment
materials Co. Ltd
(2)Important non-wholly owned subsidiary
Unit: RMB
Shareholding of Total profit or loss attributable to Dividends distributed to Minority interest
Subsidiaries minority minority shareholders for the year minority interests for the as at 30 June
shareholders ended 30 June 2022 year ended 30 June 2022 2022
Shenzhen CSG Display 39.2% 6859691 411269177
(3) Major financial information of important non-wholly owned subsidiaries
Unit: RMB
Name of Closing balance
Subsidiary Current assets Non-current assets Total assets Current liabilities Non-current liabilities Total liabilities
3034622731348133307165159558046401812282380830546398952
Shenzhen CSG Opening balance
Display Current assets Non-current assets Total assets Current liabilities Non-current liabilities Total liabilities
2109790561378748179158972723544824473554572497502817232
Unit: RMB
Occurred in current term Occurred in previous term
Cash flows Cash flows
Name of Total Total
from from
Subsidiary Revenue Net profit comprehensive Revenue Net profit comprehensive
operating operating
income income
activities activities
Shenzhen
276320544211916482119164820948584378092939463139554631395557269209
CSG Display
X. Risk related to financial instrument
The Group's activities expose it to a variety of financial risks: market risk (primarily currency risk and interest rate risk)
credit risk and liquidity risk. The Group's overall risk management programme focuses on the unpredictability of
financial markets and seeks to minimise potential adverse effects on the Group's financial performance.
73CSG HOLDING CO. LTD. Financial Report of Semi-annual Report 2022
(1) Market risk
(a) Foreign exchange risk
The Group’s major operational activities are carried out in Mainland China and a majority of the transactions are
denominated in RMB. However some of the export business is settled in foreign currency. Besides the Group is exposed
to foreign exchange risk arising from the recognized assets and liabilities and future transactions denominated in foreign
currencies primarily with respect to US dollars and HKD. The Group monitors the scale of foreign currency transactions
foreign currency assets and liabilities and adjusts settlement currency of export business to furthest reduce the currency
risk.As at 30 June 2022 the carrying amounts in RMB equivalent of the Group’s assets and liabilities denominated in foreign
currencies are summarized below:
30 June 2022
USD HKD Others Total
Financial assets denominated in foreign currency
Cash at bank and on hand 40861221 9259960 6254802 56375983
Receivables 65237143 1656131 5850510 72743784
Total 106098364 10916091 12105312 129119767
Financial liabilities denominated in foreign currency
Payables 36394660 629960 1576836 38601456
Total 36394660 629960 1576836 38601456
31 December 2021
USD HKD Others Total
Financial assets denominated in foreign currency
Cash at bank and on hand 26509188 2379817 115374 29004379
Receivables 111133429 1732573 6026900 118892902
Total 137642617 4112390 6142274 147897281
Financial liabilities denominated in foreign currency
Payables 40306973 201921 2416770 42925664
Total 40306973 201921 2416770 42925664
As at 30 June 2022 if the currency had strengthened/weakened by 10% against the USD while all other variables had
been held constant the Group’s net profit for the year would have been approximately RMB5924815 lower/higher (31
December 2021: approximately RMB 8273530 lower/higher) for various financial assets and liabilities denominated in
USD.
74CSG HOLDING CO. LTD. Financial Report of Semi-annual Report 2022
Other changes in exchange rate had no significant influence on the Group's operating activities.(b) Interest rate risk
The Group's interest rate risk arises from long-term interest bearing borrowings including long-term borrowings and
bonds payable. Financial liabilities issued at floating rates expose the Group to cash flow interest rate risk. Financial
liabilities issued at fixed rates expose the Group to fair value interest rate risk. The Group determines the relative
proportions of its fixed rate and floating rate contracts depending on the prevailing market conditions. As at 30 June 2022
the Group’s long-term interest-bearing debt at variable rates and fixed rates as illustrated below:
Type 30 June 2022 31 December 2021
Debt at fixed rates 789569526 2404372257
Debt at variable rates 2371566942 1061274897
Total 3161136468 3465647154
The Group continuously monitors the interest rate position of the Group. Increases in interest rates will increase the cost
of new borrowing and the interest expenses with respect to the Group’s outstanding floating rate borrowings and
therefore could have a material adverse effect on the Group’s financial position. The Group makes adjustments timely
with reference to the latest market conditions which includes increasing/decreasing long-term fixed rate debts at the
anticipation of increasing/decreasing interest rate.
(2) Credit risk
Credit risk is managed on the grouping basis. Credit risk mainly arises from cash at bank notes receivable accounts
receivable other receivables.The Group expects that there is no significant credit risk associated with cash at bank since they are mainly deposited at
state-owned banks and other medium or large size listed banks. Management does not expect that there will be any
significant losses from non-performance by these counterparties. Furthermore as the Group’s bank acceptance notes
receivable are generally accepted by the state-owned banks and other large and medium listed banks management
believes the credit risk should be limited.In addition the Group has policies to limit the credit exposure on accounts receivable other receivables and trade
acceptance notes receivable. The Group assesses the credit quality of and sets credit limits on its customers by taking into
account their financial position the availability of guarantee from third parties their credit history and other factors such
as current market conditions. The credit history of the customers is regularly monitored by the Group. In respect of
customers with a poor credit history the Group will use written payment reminders or shorten or cancel credit periods to
ensure the overall credit risk of the Group is limited to a controllable extent.
75CSG HOLDING CO. LTD. Financial Report of Semi-annual Report 2022
(3) Liquidity risk
Cash flow forecasting is performed by each subsidiary of the Group and aggregated by the Group’s finance department in
its headquarters. The Group’s finance department at its headquarters monitors rolling forecasts of the Group's short-term
and long-term liquidity requirements to ensure it has sufficient cash reserve while maintaining sufficient headroom on its
undrawn committed borrowing facilities from major financial institutions so that the Group does not breach borrowing
limits or covenants on any of its borrowing facilities to meet the short-term and long-term liquidity requirements.The management intends to take the following measures to ensure that the group's liquidity risk is within a controllable
range.(a) The Group will have steady cash inflows from operating activities;
(b) The Group will pay the debts that mature and finance the construction projects through the existing bank facilities;
(c) The Group will closely monitor the payment of construction expenditure in terms of payment time and amount.The financial liabilities of the Group at the balance sheet date are analysed by their maturity date below at their
undiscounted contractual cash as follows:
30 June 2022
Within 1 year 1 to 2 years 2 to 5 years Over 5 years Total
Short-term borrowings 481724918 481724918
Notes payable 549939628 549939628
Accounts payable 1796932531 1796932531
Other payables 221866936 221866936
Other current liabilities 47730142 47730142
Non-current liabilities due within
24684425872468442587
one year
Long-term payables 149062955 149062955
Long-term borrowings 125145270 1413083190 1544631303 471015574 3553875337
Total 5691782012 1562146145 1544631303 471015574 9269575034
31 December 2021
Over 5
Within 1 year 1 to 2 years 2 to 5 years years Total
Short-term borrowings 182299506 182299506
Notes payable 400662713 400662713
Accounts payable 1428851312 1428851312
Other payables 289440477 289440477
Other current liabilities 40099309 40099309
76CSG HOLDING CO. LTD. Financial Report of Semi-annual Report 2022
Non-current liabilities due within
514569537514569537
one year
Long-term payables 168258062 168258062
Long-term borrowings 60580998 374241583 889057539 363125181 1687005301
Bonds payable 120000000 2120000000 2240000000
Total 3036503852 2662499645 889057539 363125181 6951186217
XI. Disclosure of fair value
1. The ending fair value of assets and liabilities measured at fair value
Unit: RMB
Fair value at the end of the period
Level 1 Level 2 Level 3 Total
Financial assets measured at fair value with changes included in
current profit and loss
Structured deposits 1209000000 1209000000
Financial assets measured at fair value through other
comprehensive income
Receivables Financing 582328808 582328808
Investment property 383084500 383084500
Total 2174413308 2174413308
XII. Related party and related Transaction
1. Information of the parent company
The Company regards no entity as the parent company.
2. Information of the subsidiaries
The general information and other related information of the subsidiaries are set out in attached note.
3. Joint venture of the Company
The general information and other related information of joint ventures of the Company are set out in attached note.
4. Other related parties
Other related parties Relationship between other related parties and the enterprise
77CSG HOLDING CO. LTD. Financial Report of Semi-annual Report 2022
Foresea Life Insurance Co. Ltd. The Company's largest shareholder
Shenzhen Jushenghua Co. Ltd. A related party of the Company's largest shareholder
Xinjiang Qianhai United Property Insurance Co. Ltd. A related party of the Company's largest shareholder
Suzhou Baoqi Logistics Co. Ltd. A related party of the Company's largest shareholder
Shenzhen Baoneng Automobile Sales Service Co. Ltd A related party of the Company's largest shareholder
5. Related party transactions
(1)Related transactions for the purchase and sale of goods provision and receipt of services
Purchase of goods / acceptance of labor services
Unit: RMB
Amount incurred Whether the Amount incurred
Related party Related party transactions in the current transaction limit is in the previous
period exceeded period
Suzhou Baoqi Logistics Co. Ltd. Acceptance of labor services None 5247713
Foresea Life Insurance Co. Ltd. Purchase Purchase of life insurance 3323544 None 1224197
Shenzhen Baoneng Automobile Purchase of goods None
1818050
Sales Service Co. Ltd
Xinjiang Qianhai United Property Purchase auto insurance None
84149
Insurance Co. Ltd.Other related parties Purchase of goods 245339 None 609968
Total 3568883 None 8984077
Sales of goods / provision of labor services
Unit: RMB
Related party Related party transactions Amount incurred in the Amount incurred in the
current period previous period
Shenzhen Jushenghua Co. Ltd. Sales of goods 500
Other related parties Sales of goods 208935 559600
Total 208935 560100
（2）Related lease
The company as the lessee：
Unit: RMB
Rental costs for Variable lease
Name Types Interest expense of
simplified payments not Increased use right
of of Rent paid lease liabilities
short-term leases included in the assets
lessor leased undertaken
and low value asset measurement of
78CSG HOLDING CO. LTD. Financial Report of Semi-annual Report 2022
assets leases(if applicable) lease liabilities (if
applicable)
Amount Amount Amount Amount Amount Amount Amount Amount Amount Amount
incurred incurred incurred incurred incurred incurred incurred incurred incurred incurred
in the in the in the in the in the in the in the in the in the in the
current previous current previous current previous current previous current previous
period period period period period period period period period period
Other
Leased
related 442325 19559
plant
parties
6. Accounts receivable and payable of related parties
(1) Receivables
Unit: RMB
Closing balance Opening balance
Related party
Book balance Bad debt provision Book balance Bad debt provision
Foresea Life Insurance Co. Ltd. 457134 1715
Other related parties 283146 4064 240905 4819
Total 740280 4064 242620 4819
(2) Payables
Related party Closing book balance Opening book balance
Suzhou Baoqi Logistics Co. Ltd. 518280 2731013
Other related parties 134025 133408
Total 652305 2864421
XIII. Share based payment
1.General situation of share based payment
□ Applicable √ Not applicable
2.Share based payment settled by equity
□ Applicable √ Not applicable
79CSG HOLDING CO. LTD. Financial Report of Semi-annual Report 2022
3.Cash settled share based payment
□ Applicable √ Not applicable
XIV. Commitments and contingencies
1. Significant commitments
(1) Capital commitments
Capital expenditures contracted for by the Group at the balance sheet date but are not yet necessary to be recognized on
the balance sheet are as follows:
Unit: RMB
Item 30 June 2022 31 December 2021
Buildings machinery and equipment 3255792770 2994615272
XV. Other important matters
1. Segment information
(1) Definition foundation of segment and accounting policy
The Group's business activities are categorised by product and service as follows:
Glass segment engaged in production and sales of float glass and engineering glass and other building energy - saving
materials the silica for the production thereof etc.Electronic glass and display segment is responsible for production and sales of display components and special
ultra-thin glass products etc.Solar energy segment engaged in manufacturing and sales of polysilicon and solar battery and applications etc.The reportable segments of the Group are the business units that provide different products or service. Different
businesses require different technologies and marketing strategies. The Group therefore separately manages the
production and operation of each reportable segment and Estimates their operating results respectively in order to make
decisions about resources to be allocated to these segments and to assess their performance.Inter-segment transfer prices are measured by reference to selling prices to third parties.The assets are allocated based on the operations of the segment and the physical location of the asset. The liabilities are
allocated based on the operations of the segment. Expenses indirectly attributable to each segment are allocated to the
segments based on the proportion of each segment’s revenue.
80CSG HOLDING CO. LTD. Financial Report of Semi-annual Report 2022
(2)Financial information of segment
Unit: RMB
Electronic glass Solar energy and
Item Glass industry Unallocated Elimination Total
and display other industries
Revenue from
43749335427226762471405993071156138166519216676
external customers
Inter-segment
538368848723952227648076214893714-383618196
revenue
Interest income 1783726 281292 308648 28383038 30756704
Interest expenses 4057266 3838337 -135478 84224479 91984604
Asset impairment
-1456-1456
losses
Credit impairment
848260-320455879333850841492222
loss
Depreciation and
amortization 284583466 114919758 64926060 3641946 468071230
expenses
Total profit 698174831 130737688 333914370 14689342 1177516231
Income tax expenses 99050153 18781190 52257720 -1163539 168925524
Net profit 599124678 111956498 281656650 15852881 1008590707
Total assets 11258772055 3727213216 3285363409 4199829096 22471177776
Total liabilities 4895321766 641350698 584360531 4088494414 10209527409
Increase in non
14261598736936012513288988334500281631859909
current assets
(3) Other statement
The Group’s revenue from external customers domestically and in foreign countries or geographical areas and the total
non-current assets other than financial assets and deferred tax assets located domestically and in foreign countries or
geographical areas are as follows:
Revenue from external customers Jan.-Jun. 2022 Jan.-Jun. 2021
Mainland 6019026588 5993997205
Overseas 500190088 620805333
Total 6519216676 6614802538
Total non-current assets 30 June 2022 31 December 2021
Mainland 14103009578 12982067078
81CSG HOLDING CO. LTD. Financial Report of Semi-annual Report 2022
Hong Kong 12376080 12403499
Total 14115385658 12994470577
XVI. Notes to Financial Statements of the Parent Company
1.Accounts receivable
(1) Classified disclosure of accounts receivable
Unit: RMB
Ending book balance Beginning book balance
Book balance Bad debt provision Book balance Bad debt provision
Category book amoun amount Accrual book
amount of propor amount of Accrual value propot of of proporti value
money tion money proportion rtion
money money on
Accounts
receivable
for which
bad debt
reserves 2037007 100% 40740 2% 1996267
are
withdrawn
by
portfolio
Total 2037007 100% 40740 2% 1996267
Provision for bad debts by portfolio：
Unit: RMB
Ending book balance
Name
Book balance Bad debt provision Accrual proportion
Portfolio 1 2037007 40740 2%
Total 2037007 40740
Disclosed by aging
Unit: RMB
Aging Ending book balance
Within 1 year (including 1 year) 2037007
Total 2037007
(2)Bad debt reserves withdrawn recovered or reversed in the current period
Provision for bad debts in the current period：
82CSG HOLDING CO. LTD. Financial Report of Semi-annual Report 2022
Unit: RMB
Amount of change in the current period
Beginning book
Category Collect or Ending balance
balance Provision Write off Others
reversal
Bad debt
reserves of
4074040740
accounts
receivable
Total 40740 40740
(3)Top 5 of the closing balance of the accounts receivable collated according to the arrears party
Unit: RMB
Proportion in total closing
Ending balance of accounts Ending balance of bad debt
Unit name balance of accounts
receivable provision
receivable
Total accounts receivable of
2037007100%40740
the top 5 in balance
Total 2037007 100%
2. Other receivables
Unit: RMB
Item Ending balance Book balance
Dividends receivable 250000000 250000000
Other receivables 2374297723 2649091405
Total 2624297723 2899091405
(1) Dividends receivable
1）Classification of dividends receivable
Unit: RMB
Item (or investee) Closing balance Opening balance
Dividends receivable from subsidiaries 250000000 250000000
Total 250000000 250000000
83CSG HOLDING CO. LTD. Financial Report of Semi-annual Report 2022
(2)Other receivables
1) Other accounts receivable classified by the nature of accounts
Unit: RMB
Nature of accounts Ending book balance Beginning book balance
Accounts receivable of related party 2250430875 2526427812
Others 175252620 174005021
Total 2425683495 2700432833
2）Withdrawal of bad debt provision
Unit: RMB
Phase I Phase II Phase III
Expected credit loss Expected credit loss
Expected credit for the entire for the entire
Bad debt provision Total
losses in the next 12 duration (no credit duration (credit
months impairment impairment
occurred) occurred)
Balance on1 January 2022 41428 51300000 51341428
Balance on1 January 2022 in
current period
Provision for this period 44344 44344
Balance on 30 June 2022 85772 51300000 51385772
3）Other receivables disclosed by aging
Unit: RMB
Aging Ending balance
Within 1 year (including 1 year) 2253443341
1 to 2 years 1036498
2 to 3 years 98190
More than 3 years 171105466
3 to 4 years 75371
More than 5 years 171030095
Total 2425683495
4) Provision for bad debts accrued recovered or reversed in the current period
Provision for bad debts:
84CSG HOLDING CO. LTD. Financial Report of Semi-annual Report 2022
Unit: RMB
Opening Amount of change in the current period
Category Closing balance
balance Provision Collect or reversal Write-off Others
Provision for bad
513414284434451385772
debts by portfolio
Total 51341428 44344 51385772
5）Top 5 of the closing balance of the other accounts receivable collated according to the arrears party
Unit: RMB
Proportion of the Closing
Nature of Closing total year end balance balance of
Name ofthecompany Aging
accounts balance of the accounts bad debt
receivable (%) provision
Dongguan CSG PV-tech Subsidiary 569768167 Within 1 year 23%
Qingyuan CSG Energy-saving Subsidiary 342364169 Within 1 year 14%
Shenzhen CSG Display Subsidiary 334548092 Within 1 year 14%
Xianning CSG Photoelectric Subsidiary 251068779 Within 1 year 10%
China Southern Glass (Hong Kong) Subsidiary 240438085 Within 1 year 10%
Total 1738187292 71%
3. Long-term equity investment
Unit: RMB
Closing balance Opening balance
Item
Impairment Impairment
Book balance Book value Book balance Book value
provision provision
Investment in
69146757091500000068996757096277391694150000006262391694
subsidiaries
Total 6914675709 15000000 6899675709 6277391694 15000000 6262391694
(1)Investment in subsidiaries
Unit: RMB
Increase and decrease in the current period Closing
Opening Closing balance of
Provision
Invested company balance Additional Reducing balance provision
for Others
(book value) investment investment (book value) for
impairment
impairment
85CSG HOLDING CO. LTD. Financial Report of Semi-annual Report 2022
Chengdu CSG Glass Co. Ltd. 151397763 151397763
Sichuan CSG Energy Conservation 119256949 119256949
Tianjin Energy Conservation Glass Co.
247833327247833327
Ltd.Dongguan CSG Architectural Glass Co.
198276242198276242
Ltd.Dongguan CSG Solar Glass Co. Ltd. 355120247 355120247
Yichang CSG Polysilicon Co. Ltd. 640856170 269104000 909960170
Wujiang CSG North-east Architectural
254401190254401190
Glass Co. Ltd.Hebei CSG Glass Co. Ltd. 266189705 266189705
China Southern Glass (Hong Kong)
8776730487767304
Limited
Wujiang CSG Glass Co. Ltd. 567645430 567645430
Jiangyou CSG Mining Development Co.
102415096102415096
Ltd.Xianning CSG Glass Co. Ltd. 181116277 181116277
Xianning CSG Energy Conservation
165452035165452035
Glass Co. Ltd.Qingyuan CSG Energy Saving New
885273105885273105
Materials Co.Ltd.Shenzhen CSG Financial Leasing Co.
133500000133500000
Ltd.Shenzhen Nanbo Display Technology
550765474550765474
Co. Ltd.Zhaoqing CSG Energy-Saving Glass Co.
150000000150000000
Ltd.Zhaoqing CSG Automobile Glass Co.
581210001203001570151015
Ltd.Dongguan CSG PV-tech Co. Ltd. 382112183 382112183
Anhui CSG New Energy Materials 455000000 255000000 710000000
Anhui CSG New Quartz material 37000000 38000000 75000000
Shenzhen CSG Medical 20000000 20000000
Anhui CSG Silicon Valley Mingdu Co.
30000003000000
Ltd.Xi'an CSG Energy Saving Co. Ltd. 1000000 21150000 22150000
Guangxi CSG New Energy Materials 1000000 17000000 18000000
86CSG HOLDING CO. LTD. Financial Report of Semi-annual Report 2022
Co. Ltd
CSG (Suzhou) Enterprise Headquarters
90000002100000030000000
Management Co. Ltd
Yichang CSG New Energy Materials Co.
10000001000000
Ltd
Hefei CSG Energy Saving Co. Ltd 3000000 3000000
Others 238892197 238892197 15000000
Total 6262391694 637284015 6899675709 15000000
4. Operating income and operating costs
Unit: RMB
Occurred in this term Occurred in previous term
Item
Income Costs Income Costs
Main business 15479200 15015892
Other business 214719212 42342857
Total 230198412 15015892 42342857
5.Investment income
Unit: RMB
Item Occurred in this term Occurred in previous term
Long-term equity investment accounted by cost method 648961128 715020699
Investment income of trading financial assets during the holding period 14478503 2858476
Fixed deposit income 1935192 596467
Total 665374823 718475642
XVII.Supplementary Information
1. Items and amounts of extraordinary profit (gains)/loss
√Applicable □Not applicable
Unit: RMB
Item Amount Note
Gains/losses from the disposal of non-current asset (including the write-off that accrued
12745461
for impairment of assets)
Governmental subsidy reckoned into current gains/losses (not including the subsidy
enjoyed in quota or ration according to national standards which are closely relevant to 97547070
enterprise’s business)
87CSG HOLDING CO. LTD. Financial Report of Semi-annual Report 2022
In addition to the effective hedging business related to the normal operation of the
company gains and losses from changes in fair value arising from the holding of tradable
financial assets and tradable financial liabilities and the acquisition of tradable financial 16413695
assets and available-for-sale financial assets from disposal of tradable financial assets
investment income
Reversal of impairment provision for receivables subject to independent impairment test 1409310
Other non-operating income and expenditure except for the aforementioned items 11472908
Less: Impact on income tax 23294919
Impact on minority shareholders’ equity (post-tax) 2713947
Total 113579578 --
Details of other profit and loss items that meet the definition of non recurring profit and loss：
□Applicable √Not applicable
The Company has no specific circumstances of other profit and loss items that meet the definition of non-recurring
profit and loss.Explanation on defining the non-recurring profit and loss items listed in the "Explanatory Announcement No. 1 on
Information Disclosure of Companies Offering Securities to the Public - Non-recurring Profit and Loss" as recurring
profit and loss items
□Applicable √Not applicable
2. Return on net assets and earnings per share
The weighted Earnings per share
Profit in the report period average net Basic earnings per Diluted earnings per
assets ratio share (RMB/share) share (RMB/share)
Net profit attributable to ordinary shareholders of the Company 8.61% 0.33 0.33
Net profit attributable to ordinary shareholders of the Company after
7.64%0.290.29
deducting non-recurring gains and losses
3. Difference of accounting data under domestic and overseas accounting standards
(1) Differences of the net profit and net assets disclosed in financial report prepared under international and
Chinese accounting standards
□ Applicable √ Not applicable
(2) Difference of the net profit and net assets disclosed in financial report prepared under overseas and Chinese
accounting standards
□ Applicable √ Not applicable
88CSG HOLDING CO. LTD. Financial Report of Semi-annual Report 2022
(3)Explanation of the reasons for the difference of accounting data under the domestic and foreign accounting
standards. If the data audited by the overseas audit institution is adjusted for the difference the name of the
overseas institution shall be indicated
□ Applicable √ Not applicable
89
沪公网安备31011802005267号
