CSG HOLDING CO. LTD.

THE FIRST QUARTER REPORT 2021

Chairman of the Board:

CHEN LIN

April 2021

Section I Important Notice

Board of Directors and the Supervisory Committee of CSG Holding Co. Ltd. (hereinafter referred

to as the Company) and its directors supervisors and senior executives hereby confirm that there

are no any fictitious statements misleading statements or important omissions carried in this report

and shall take individual and joint legal responsibilities for the facticity accuracy and completeness

of the whole contents.

All directors were present at the meeting of the Board for deliberating the First Quarter Report of

the Company in person.Ms. Chen Lin Chairman of the Board Mr. Wang Jian responsible person in charge of the

accounting and Ms. Wang Wenxin principal of the financial department (accounting officer) declare

that the Financial Report enclosed in the First Quarter Report 2021 is true accurate and complete.This report is prepared both in Chinese and English. Should there be any inconsistency between the

Chinese and English versions the Chinese version shall prevail.

Section II The basic situation of the Company

I. Main accounting data and financial indicators

Whether the company need to retroactively adjust or restate the previous year's accounting data or not

□Yes √ No

The 1st quarter of 2021 The 1st quarter of 2020 Percentage of change (%)

Operating income (RMB) 3006832539 1733965637 73.41%

Net profit attributable to shareholders of

the listed company(RMB)

573268793 111278288 415.17%

Net profit attributable to shareholders of

the listed company after deducting

non-recurring gains and losses(RMB)

572808470 101805077 462.65%

Net cash flow arising from operating

activities(RMB)

341291798 -11126768 -

Basic earnings per share (RMB/Share) 0.19 0.04 375.00%

Diluted earnings per share (RMB/Share) 0.19 0.04 375.00%

Weighted average ROE (%) 5.46% 1.16% 4.30%

31 March 2021 31 December 2020 Percentage of change (%)

Total assets (RMB) 18291918167 17882914898 2.29%

Net assets attributable to shareholder of

listed company(RMB)

10786937835 10212989847 5.62%

The total share capital of the company as of the previous trading day of disclosure ( share ) 3070692107

Fully diluted earnings per share calculated with latest equity ( RMB/share ) 0.19

Items and amounts of extraordinary profit (gains)/losses

√Applicable □ Not applicable

Unit: RMB

Item

Amount from beginning of the year

to the end of the report period

Note

Gains/losses from the disposal of non-current asset (including the

write-off that accrued for impairment of assets)

-298458

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 enterprise’s business)

14347461

In addition to the normal business of the company effective hedging

related business tradable financial assets derivative financial assets

tradable financial liabilities changes in the fair value of the derivative

financial liabilities to generate profits and losses as well as the disposal

of tradable financial assets derivative financial assets tradable

financial liabilities derivative financial liabilities and other creditor's

rights investment returns.

1373392

Other non-operating income and expenditure except for the

aforementioned items

-12339031

Less: Impact on income tax 2103005

Impact on minority shareholders’ equity (post-tax) 520036

Total 460323 --

For the non-recurring profit and loss items defined by the company in accordance with Q&A Announcement No.1 on Information

Disclosure for Companies Offering Their Securities to the Public --- Extraordinary Profit/loss and the non-recurring profit and loss

items listed in Q&A Announcement No.1 on Information Disclosure for Companies Offering Their Securities to the Public ---

Extraordinary Profit/loss. are defined as recurring profit and loss items the reasons shall be explained.

□ Applicable √ Not applicable

During the report period the Company didn’t have the case of extraordinary profit (gains)/loss defined as a regular profit and loss

project which was defined and enumerated according to the lists of extraordinary profit (gain)/loss in Q&A Announcement No.1 on

Information Disclosure for Companies Offering Their Securities to the Public --- Extraordinary Profit/loss.II. Total of shareholders at the end of the report period and particulars about the shares held

by the top ten shareholders

1. The total number of common shareholders and the number of preference shareholders with voting rights

recovered as well as the top ten shareholders

Unit: Share

The total number of common shareholders

at the end of the report period

139532

The total number of preference shareholders with voting

rights recovered at end of report period (if applicable)

0

Particulars about the shares held by the top ten shareholders

Name of shareholder Nature of shareholder

Proportion

of shares

held (%)

Amount of

shares held

Amount of

restricted

shares held

Number of share

pledged/frozen

Share

status

Amount

Foresea Life Insurance Co. Ltd. –

HailiNiannian

Domestic non state-owned

legal person

15.19% 466386874

Foresea Life Insurance Co. Ltd. –

Universal Insurance Products

Domestic non state-owned

legal person

3.86% 118425007

Zhongshan Runtian Investment Co. Ltd. Domestic non state-owned 2.82% 86633447 pledged 86630000

legal person

Hong Kong Securities Clearing Co. Ltd. Foreign legal person 2.45% 75307652

Foresea Life Insurance Co. Ltd. – Own

Fund

Domestic non state-owned

legal person

2.11% 64765161

Central Huijin Asset Management Ltd. State-owned legal person 1.89% 57915488

China Galaxy International Securities

(Hong Kong) Co. Limited

Foreign legal person 1.35% 41349778

China Merchants Securities (HK) Co.

Limited

State-owned legal person 1.08% 33238643

Shenzhen International Holdings (SZ)

Limited

State-owned legal person 0.95% 29095000

VANGUARD EMERGING MARKETS

STOCK INDEX FUND

Foreign legal person 0.68% 20972497

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

Shareholders’ name

Amount of unrestricted

shares held at the end of

the period

Type of shares

Type Amount

Foresea Life Insurance Co. Ltd. – HailiNiannian 466386874 RMB ordinary shares 466386874

Foresea Life Insurance Co. Ltd. – Universal Insurance Products 118425007 RMB ordinary shares 118425007

Zhongshan Runtian Investment Co. Ltd. 86633447 RMB ordinary shares 86633447

Hong Kong Securities Clearing Co. Ltd. 75307652 RMB ordinary shares 75307652

Foresea Life Insurance Co. Ltd. – Own Fund 64765161 RMB ordinary shares 64765161

Central Huijin Asset Management Ltd. 57915488 RMB ordinary shares 57915488

China Galaxy International Securities (Hong Kong) Co. Limited 41349778

Domestically listed

foreign shares

41349778

China Merchants Securities (HK) Co. Limited 33238643

Domestically listed

foreign shares

33238643

Shenzhen International Holdings (SZ) Limited 29095000 RMB ordinary shares 29095000

VANGUARD EMERGING MARKETS STOCK INDEX FUND 20972497

Domestically listed

foreign shares

20972497

Statement on associated relationship

or consistent action among the

above shareholders:

Among shareholders as listed above Foresea Life Insurance Co. Ltd.-HailiNiannian Foresea

Life Insurance Co. Ltd.-Universal Insurance Products Foresea Life Insurance Co. Ltd.-Own

Fund are all held by Foresea Life Insurance Co. Ltd. Zhongshan Runtian Investment Co. Ltd.

is a related legal person of Foresea Life Insurance Co. Ltd. and Chengtai Group Co. Ltd.another related legal person of Foresea Life Insurance Co. Ltd which held 40187904 shares

via China Galaxy International Securities (Hong Kong) Co. Limited.

Except for the above-mentioned shareholders it is unknown whether other shareholders

belong to related party or have associated relationship regulated by the Management

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

Explanation on the top ten

shareholders with un-restrict shares

held which involving margin

business (if applicable)

N/A

Whether the top ten common shareholders or the top ten common shareholders holding unrestricted shares had a buy-back agreement

dealing in the report period or not.□ Yes √ No

The top ten common shareholders or the top ten common shareholders holding unrestricted shares of the Company had no buy-back

agreement dealing in the report period.

2. The total number of preferred shareholders of the company and particulars about the top ten preferred

shareholders

□ Applicable √ Not applicable

Section III Important events

I. Particulars and explanations about significant changes in main accounting statements and

financial indices

√Applicable □Not applicable

Unit: RMB 0000

Note 31 March 2021 31 December 2020

Amount of

change

Percentage

of change

Tradable financial assets (1) 9000 - 9000 -

Notes receivable (2) 12410 20797 -8387 -40%

Accounts receivable (3) 101999 68147 33852 50%

Right-of-use asset (4) 953 - 953 -

Long-term prepaid expenses (5) 67 1038 -971 -94%

Prepayments (6) 11995 8593 3402 40%

Notes payable (7) 20652 14485 6167 43%

Employee benefits payable (8) 21490 34235 -12745 -37%

Note Jan.-Mar.2021 Jan.-Mar.2020

Amount of

change

Percentage

of change

Operating income (9) 300683 173397 127286 73%

Operating costs (10) 188497 122313 66184 54%

Taxes and surcharges (11) 3397 2181 1216 56%

Credit impairment loss (12) 614 376 238 63%

Investment income (13) 137 - 137 -

Asset disposal income (14) -30 -49 19 -

Other income (15) 1435 2079 -644 -31%

Non-operating income (16) 298 59 239 405%

Income tax expense (17) 11918 2348 9570 408%

Net profit attributable to shareholders of

the parent company

(18) 57327 11128 46199 415%

Minority shareholders' profit and loss (19) 509 71 438 617%

Net amount of other comprehensive

income after tax

(20) 89 149 -60 -40%

Notes:

(1) The increase in tradable financial assets was due to the purchase of structured deposits.

(2) The decrease in notes receivable was mainly due to the decrease in notes of some subsidiaries.

(3) The increase in accounts receivable was mainly due to the increase in accounts receivable of architectural glass subsidiaries.

(4) The increase in right-of-use asset was mainly due to adjustment in accordance with the new lease standard.

(5) The decrease in long-term prepaid expenses was mainly due to the adjustment in accordance with the new lease standard.

(6) The increase in prepayments was mainly due to the increase in prepayments for materials.

(7) The increase in notes payable was mainly due to the increase in new notes issued in the current period and the small base of the

previous year.

(8) The decrease in employee benefits payable was mainly due to the year-end bonuses accrued in the previous year that were paid

during the report period.

(9) The increase in operating income was mainly due to the increase in the price of float glass and photovoltaic glass and the

transition of Line II of Qingyuan into commercial operation.

(10) The increase in operating costs was mainly due to the increase in operating income and the transportation costs included in the

cost as contract performance costs.

(11) The increase in taxes and surcharges was mainly due to the increase in operating income.

(12) The increase in credit impairment loss was mainly due to the increase in the provision for bad debts of accounts receivable.

(13) The increase in investment income was due to the increase in income from structured deposits.

(14) The change in asset disposal income was mainly due to the decrease in the disposal of non-current assets in the current period.

(15) The decrease in other income was mainly due to the decrease in government subsidies received in the current period.

(16) The increase in non-operating income was mainly due to the increase in unpaid payments and insurance claims.

(17) The increase in income tax expense was mainly due to the increase in total profits.

(18) The increase in net profit attributable to shareholders of the parent company was mainly due to the increase in the net profit of

some subsidiaries.

(19) The increase in minority shareholders' profit and loss was mainly due to the increase in the net profit of some subsidiaries with

minority shareholders.

(20) The decrease in net amount of other comprehensive income after tax was mainly due to changes in the translation differences in

foreign currency statements.II. The progress and the impact of material events and analysis on the solutions

√Applicable □Not applicable

1. Ultra-short-term financing billsOn June 15 2020 the Company’s Third Extraordinary General Shareholders’ Meeting of 2020 deliberated and approved “TheProposal on Application for Registration And Issuance of Ultra-short-term Financing Bills And Medium-term Notes” which agreed

that the Company should register and issue ultra-short-term financing bills with a registered amount not exceeding RMB 1.5 billion

and the bills could be issued by stages within period of validity of the registration according to the Company’s actual demands for

funds and the status of inter-bank funds. On September 4 2020 National Association of Financial Market Institutional Investors

(NAFMII) held its 102nd registration meeting in 2020 and decided to accept the registration of ultra-short-term financing bills with a

total of RMB 1.5 billion and a validity period of two years.

2. Medium-term notes

On April 15 2016 CSG’s Annual General Shareholders’ Meeting of 2015 of deliberated and approved the proposal of application for

registration and issuance of medium-term notes with total amount of RMB 0.8 billion which could be issued by stages within period

of validity of the registration according to the Company’s actual demands for funds and the status of inter-bank funds. On March 2

2018 National Association of Financial Market Institutional Investors (NAFMII) held the 14th registration meeting of 2018 in

which NAFMII decided to accept the registration of the Company’s medium-term notes amounting to RMB 0.8 billion and valid for

two years. Shanghai Pudong Development Bank Co. Ltd. and China CITIC Bank Corporation Limited were joint lead underwriters

of these medium-term notes which could be issued by stages within period of validity of the registration. On May 4 2018 the

Company issued the first batch of medium-term notes with a total amount of RMB 0.8 billion and a term of three years. The issue

rate was 7% and the redemption date was May 4 2021.On June 15 2020 CSG’s Third Extraordinary Shareholders’ General Meeting of 2020 deliberated and approved “The Proposal on

Application for Registration And Issuance of Ultra-short-term Financing Bills And Medium-term Notes” which agreed that the

Company should register and issue medium-term notes with a registered amount not exceeding RMB 1.5 billion and the notes could

be issued by stages within period of validity of the registration according to the Company’s actual demands for funds and the status

of inter-bank funds. On September 4 2020 the NAFMII held the 102nd registration meeting in 2020 and decided to accept the

Company's registration of medium-term notes with a total of RMB 1.5 billion and a validity period of two years.

For details please refer to www.chinabond.com.cn and www.chinamoney.com.cn.

3. Public issuance of corporate bondsOn March 2 2017 the Second Extraordinary Shareholders’ General Meeting of 2017 deliberated and approved “The Proposal on thePublic Issuance of Corporate Bonds for Qualified Investors". On February 27 2019 the First Extraordinary Shareholders’ GeneralMeeting of 2019 deliberated and approved “The Proposal on Extending the Validity Period of the Shareholders' Meeting for thePublic Offering of Corporate Bonds to Qualified Investors” which agreed that the Company should issue corporate bonds with a

total issue of no more than RMB 2 billion and a term of no more than 10 years. On June 26 2019 the Company received the

“Approval of Approving CSG Holding Co. Ltd. to Issue Corporate Bonds to Qualified Investors” issued by China Securities

Regulatory Commission (ZJXK [2019] No. 1140). On March 24 2020 and March 25 2020 the Company issued the first batch of

corporate bonds with total amount of RMB 2 billion and valid term of 3 years at the issuance rate of 6% which will be redeemed on

March 25 2023.On March 12 2020 the First Extraordinary Shareholders’ General Meeting of 2020 deliberated and approved “The Proposal on thePublic Issuance of Corporate Bonds for Qualified Investors" which agreed that the Company should issue corporate bonds with a

total issue of no more than RMB 1.8 billion and a term of no more than 10 years. On April 22 2020 the Company received the

“Approval of Approving CSG Holding Co. Ltd. to Issue Corporate Bonds to Qualified Investors” issued by China Securities

Regulatory Commission (ZJXK[2020] No. 784).

4. Non-public issuance of A shares

The interim meeting of the 8th board of directors of the Company held on March 5 2020 deliberated and approved the related

proposals of non-public issuance of A shares and agreed the Company to issue A shares privately. The proposals were deliberated

and approved by the Second Extraordinary Shareholders’ General Meeting of 2020 which held on April 16 2020. In May 2020 the

Company received “The First Feedback Notice on the Examination of Administrative Licensing Projects of China SecuritiesRegulatory Commission” (No. 200819) issued by the China Securities Regulatory Commission and published “Announcement onReply to the Feedback of Application Documents For Non-public Issuance of A Shares” and “Announcement on the Revised Replyto the Feedback of Application Documents For Non-public Issuance of A Shares” on June 8 2020 and June 29 2020 respectively. On

June 5 2020 the Company held an interim meeting of the 9th board of directors deliberated and approved the relevant proposals on

adjusting the Company's non-public issuance of A shares. On July 6 2020 the Issuance Audit Committee of China Securities

Regulatory Commission reviewed the Company's application for non-public issuance of A shares. According to the audit results the

Company's application for non-public issuance of A shares was approved. On July 22 2020 the Company received the “Reply on the

Approval of Non-public Issuance of Shares of CSG” (ZJXK [2020] No. 1491) issued by China Securities Regulatory Commission.

In view of the validity period of the resolution of the non-public issuance of A shares and the validity period of the relevant

authorization were about to expire the Company held an interim meeting of the 9th board of directors and an interim meeting of the

9th board of supervisors on March 26 2021 which deliberated and approved " The Proposal on Extending the Validity Period of

Resolutions of the General Meeting of Shareholders of Non-public Issuance of A Shares" and "The Proposal on Requesting the

General Meeting of Shareholders to Extend the Authorization of the Board of Directors to Fully Manage Matters Related to the

Non-public Issuance of A Shares". It was agreed that the Company should extend the validity period of the resolutions of the

shareholders’ meeting of this non-public issuance of A shares and the validity period of authorizing the board of directors to handle

matters related to the non-public issuance of A shares by 12 months from the date of expiration of the previous period of validity (that

is to April 15 2022). The above proposals were deliberated and approved by the Company's Second Extraordinary Shareholders’

General Meeting of 2021 held on April 13 2021.

For details please refer to the relevant contents published on Juchao information network (www.cninfo.com.cn) .

Progress of implementation of share repurchase

□Applicable √Not applicable

Progress of implementation of the reduction of the purchased shares by means of centralized price bidding

□Applicable √Not applicable

III. Failure in due fulfillment of commitments of the actual controllers shareholders affiliates

and acquirers of listed company as well as the listed company during the report period

□Applicable √Not applicable

It did not exist that commitments of the actual controllers shareholders affiliates and acquirers of listed company as well as the

listed company failed to be fulfilled on time during the report period.IV. Financial assets investment

(1) Securities investment

□ Applicable √ Not applicable

There was no securities investment during the report period.

(2) Derivative investment

□ Applicable √ Not applicable

There was no derivative investment during the report period.V. Progress of investment projects with raised funds

□ Applicable √ Not applicable

VI. Predict of the business performance from January to June 2021

Warnings and reasons of the predict that the cumulative net profit from the begin of the year to the end of next report period may be

loss or have great changes comparing with the same period of last year

□Applicable √Not applicable

VII. Major contracts for daily operation

√Applicable □ Not applicable

Name of

company signing

the contract

Name of the other party

signing the contract

Subject matter

Total contract

amount

Progress of

contract

performance

Amount of sales

revenue

recognized in the

current period

and accumulated

Collection of

accounts

receivable

Wujiang CSG

Glass Co. Ltd.

Dongguan CSG

Solar Glass Co.Ltd.LONGi Solar Technology

Ltd. Zhejiang LONGi

Solar Technology Ltd.Taizhou LONGi Solar

Technology Ltd. Yinchuan

LONGi Solar Technology

Ltd. Chuzhou LONGi

Solar Technology Ltd.

Datong LONGi Solar

Technology Ltd. LONGi

(H.K.) Trading Limited

LONGi (KUCHING)

SDN. BHD. Xianyang

LONGi Solar Technology

Ltd. Jiangsu LONGi Solar

Technology Ltd. Jiaxing

LONGi Solar Technology

Ltd.Xi'an LONGi Green

Building Technology Ltd.

Photovoltaic

glass

RMB 6500

million (tax

included)

In progress

The recognized

income was RMB

87.57 million in

this period and

the accumulated

recognized

income was RMB

221.93 million.

RMB 165.51

million

There is a significant difference between the progress of the major contract and the contract agreement which affects more than 30%

of the contract amount

□ Applicable √ Not applicable

VIII. Entrusted financing

□ Applicable √ Not applicable

There was no entrusted financing during the report period

IX. Particulars about illegal external guarantee

□ Applicable √Not applicable

The Company had no illegal external guarantee during the report period.X. Particulars about non-operating fund of listed company which is occupied by controlling

shareholder and its affiliated enterprises

□ Applicable √ Not applicable

There was no non-operating fund of listed company occupied by controlling shareholder and its affiliated enterprises during the

report period.XI. Registration form for receiving research communication and interview during the report

period

□ Applicable √ Not applicable

The Company did not receive any research communication or interviews during the report period.

Section IV Financial Report

I. Financial Statements

1. Consolidated balance sheet

Prepared by CSG Holding Co. Ltd.Unit: RMB

Item March 31 2021 December 31 2020

Current asset:

Monetary Fund 2016865586 2125788903

Tradable financial assets 90000000

Notes receivable 124098739 207966892

Accounts receivable 1019990173 681467133

Receivables financing 347157199 382527782

Prepayments 119952561 85928641

Other receivables 199342999 200969854

Inventories 1048226068 815156318

Other current assets 136152305 140031544

Total current assets 5101785630 4639837067

Non-current assets:

Investment real estate 383084500 383084500

Fixed assets 8961971150 9145644569

Construction in progress 1973479214 1893380611

Right-of-use asset 9534162

Intangible assets 1180633322 1139718255

Development expenditure 54079023 49153407

Goodwill 233375693 233375693

Long-term prepaid expenses 666968 10381937

Deferred tax assets 194230481 194979414

Other non-current assets 199078024 193359445

Total non-current assets 13190132537 13243077831

Total assets 18291918167 17882914898

Current liabilities:

Short-term loan 322688500 352895571

Notes payable 206524926 144851192

Accounts payable 1226598284 1237833051

Contract liability 266895878 296776624

Payroll pay 214904810 342352166

Taxes payable 204308326 194921071

Other payables 236233747 287332992

Incl.: Interest payable 56172197 132133902

Non-current liabilities due within one year 931301946 927531709

Other current liabilities 29378554 34586292

Total current liabilities 3638834971 3819080668

Non-current liabilities:

Long-term loan 873417968 853253983

Bonds payable 1994647424 1994020348

Deferred income 490003419 498056081

Deferred income tax liabilities 100093369 102619932

Total non-current liabilities 3458162180 3447950344

Total Liabilities 7096997151 7267031012

Owners' equity:

Share capital 3070692107 3070692107

Capital reserve 596997085 596997085

Other comprehensive income 162702572 161816819

Special reserves 10062444 10269002

Surplus reserve 1036948422 1036948422

Undistributed profits 5909535205 5336266412

Total owner's equity attributable to the parent company 10786937835 10212989847

Minority shareholders' equity 407983181 402894039

Total owner's equity 11194921016 10615883886

Total Liabilities and Owner's Equity 18291918167 17882914898

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

Wang Wenxin

2. Balance Sheet of the Parent Company

Unit: RMB

Item March 31 2021 December 31 2020

Current asset:

Monetary Fund 1507758454 1072875571

Tradable financial assets 90000000

Prepayments 1656513 1650184

Other receivables 2821116552 3803908369

Other current assets 66321

Total current assets 4420531519 4878500445

Non-current assets:

Long-term equity investment 5922907870 5844507870

Fixed assets 18331606 19769193

Intangible assets 493001 140836

Other non-current assets 4607615 4546275

Total non-current assets 5946340092 5868964174

Total assets 10366871611 10747464619

Current liabilities:

Short-term loan 100000000 49800000

Accounts payable 1379721 249721

Payroll payable 29581141 46504458

Taxes payable 869926 9457159

Other payables 683416985 1002135702

Incl.: Interest payable 55545295 131513019

Non-current liabilities due within one year 800000000 800000000

Total current liabilities 1615247773 1908147040

Non-current liabilities:

Long term loan 692500000 700000000

Bonds payable 1994647424 1994020348

Deferred income 180113167 180496249

Total non-current liabilities 2867260591 2874516597

Total Liabilities 4482508364 4782663637

Owners' equity:

Share capital 3070692107 3070692107

Capital reserve 741824399 741824399

Surplus reserve 1051493782 1051493782

Undistributed profits 1020352959 1100790694

Total owner's equity 5884363247 5964800982

Total Liabilities and Owner's Equity 10366871611 10747464619

3. Consolidated Income Statement

Unit: RMB

Item Balance of this period Balance of last period

I. Total operating revenue 3006832539 1733965637

Incl. :Business income 3006832539 1733965637

II. Total business cost 2306236702 1598409180

Incl. :Business cost 1884970395 1223133015

Taxes and surcharges 33969707 21811789

Sales expense 59878963 68190292

Management costs 176841412 154294998

Research and development expenses 104095372 72997585

Financial expenses 46480853 57981501

Incl. : Interest expense 56228887 67258381

Interest income 11013336 11556400

Plus: Other income 14347461 20792152

Investment income (“-” for loss) 1373392

Credit impairment loss (“-” for loss) -6144938 -3756132

Asset disposal income(“-” for loss) -298458 -494285

III. Operational profit (“-” for loss) 709873294 152098192

Plus: non-operational income 2976619 585906

Less: non-operational expenses 15315650 17217192

IV. Gross profit (“-” for loss) 697534263 135466906

Less: Income tax expenses 119176328 23478147

V. Net profit (“-” for net loss) 578357935 111988759

(I) Classification by business continuity

1. Net profit from continuous operation(“-” for net loss) 578357935 111988759

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

(II) Classification by ownership

1. Net profit attributable to shareholders of the parent company 573268793 111278288

2. Minor shareholders’ equity 5089142 710471

VI. Net after-tax amount of other comprehensive income 885753 1492543

Net after-tax amount of other comprehensive income attributable

to the owner of the parent company

885753 1492543

(I) Other comprehensive income that will be reclassified into

profit or loss

885753 1492543

1. Foreign-currency financial statement translation difference 885753 1492543

VII. Total comprehensive income 579243688 113481302

Total comprehensive income attributable to owners of the

Company

574154546 112770831

Total comprehensive income attributable to minority shareholders 5089142 710471

VIII. Earnings per share

(I) Basic earnings per share 0.19 0.04

(II) Diluted earnings per share 0.19 0.04

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

Wang Wenxin

4. Income Statement of the Parent Company

Unit: RMB

Item Balance of this period Balance of last period

I. Operating revenue 18975450 19233446

Less: Business cost

Taxes and surcharges 102225 20006

Sales expense

Management costs 44838772 19879935

Research and development expenses 204933 4617

Financial expenses 42269579 29286644

Incl. : Interest expense 52077819 39873739

Interest income 9744220 10724357

Plus: Other income 1702243 735596

Investment income (“-” for loss) 1373392

Credit impairment loss (“-” for loss) -5646 -123501

Asset disposal income(“-” for loss) -70796

II. Operational profit (“-” for loss) -65440866 -29345661

Plus: non-operational income 29967 76152

Less: non-operational expenses 15026836 1617750

III.. Gross profit (“-” for loss) -80437735 -30887259

Less: Income tax expenses

IV. Net profit (“-” for net loss) -80437735 -30887259

(I) Net profit from continuous operation(“-” for net loss) -80437735 -30887259

V.Net amount of other comprehensive income after tax

VI. Total comprehensive income -80437735 -30887259

VII. Earnings per share

(I) Basic earnings per share

(II) Diluted earnings per share

5. Consolidated Cash Flow Statement

Unit: RMB

Item Balance of this period Balance of last period

I. Net cash flow from business operation:

Cash received from sales of products and providing of services 2989003056 1783332428

Refunds of taxes 1578830 1032626

Received other cash related to business activities 33650668 34722910

Subtotal of cash inflow from operating activities 3024232554 1819087964

Cash paid for the purchase of goods and services 1743026747 1145407582

Cash paid to and for employees 527402580 424877941

Payments of all types of taxes 274884499 133051857

Payment of other cash related to business activities 137626930 126877352

Subtotal of cash outflow from operating activities 2682940756 1830214732

Net cash flow from operating activities 341291798 -11126768

II. Cash flows from investing activities:

Other cash received relating to investing activities 550000000

Cash received from investment income 1373392

Net cash received from the disposal of fixed assets intangible

assets and other long-term assets

356696 520508

Other cash received relating to investing activities 16753461 321068423

Subtotal of cash inflows from investment activities 568483549 321588931

Cash paid for the purchase and construction of fixed assets 234168691 246551903

intangible assets and other long-term assets

Cash paid for investment 640000000

Other cash paid relating to investing activities 5206030 15432851

Subtotal of cash outflows from investing activities 879374721 261984754

Net cash flows from investing activities -310891172 59604177

III. Cash flow from financing activities:

Cash received from the loan 143434231 1114359186

Cash received from the issuance of bonds 2000000000

Other financing-related cash received 20000 904849

Subtotal of cash inflows from financing activities 143454231 3115264035

Cash paid for debt repayment 149972571 917657084

Cash paid for dividends profits or interest payments 132691808 40226280

Payment of other cash related to financing activities 316663 197505852

Subtotal of cash outflows from financing activities 282981042 1155389216

Net cash flow from financing activities -139526811 1959874819

IV. Influence of exchange rate alternation on cash and cash

equivalents

202866 759216

V. Net increase in cash and cash equivalents -108923319 2009111444

Plus: Balance of cash and cash equivalents at the beginning of

term

2124028196 1831835030

VI. Balance of cash and cash equivalents at the end of term 2015104877 3840946474

6. Cash Flow Statement of the Parent Company

Unit: RMB

Item Balance of this period Balance of last period

I. Net cash flow from business operation:

Cash received from sales of products and providing of services

Refunds of taxes 18321

Received other cash related to business activities 14626713 17504825

Subtotal of cash inflow from operating activities 14626713 17523146

Cash paid for the purchase of goods and services

Cash paid to and for employees 47388336 65197531

Payments of all types of taxes 10036290 6802435

Payment of other cash related to business activities 24525402 5566108

Subtotal of cash outflow from operating activities 81950028 77566074

Net cash flow from operating activities -67323315 -60042928

II. Cash flows from investing activities:

Other cash received relating to investing activities 550000000

Cash received from investment income 250460649

Net cash received from the disposal of fixed assets intangible

assets and other long-term assets

30560

Other cash received relating to investing activities 300000000

Subtotal of cash inflows from investment activities 800491209 300000000

Cash paid for the purchase and construction of fixed assets

intangible assets and other long-term assets

556464 9586096

Cash paid for investment 718400000 81400000

Subtotal of cash outflows from investing activities 718956464 90986096

Net cash flows from investing activities 81534745 209013904

III. Cash flow from financing activities:

Cash received from the loan 100000000 827549801

Cash received from the issuance of bonds 2000000000

Other financing-related cash received 505384966

Subtotal of cash inflows from financing activities 605384966 2827549801

Cash paid for debt repayment 57300000 631999801

Cash paid for dividends profits or interest payments 127418467 22458117

Payment of other cash related to financing activities 290614929

Subtotal of cash outflows from financing activities 184718467 945072847

Net cash flow from financing activities 420666499 1882476954

IV. Influence of exchange rate alternation on cash and cash

equivalents

4955 14917

V. Net increase in cash and cash equivalents 434882884 2031462847

Plus: Balance of cash and cash equivalents at the beginning of

term

1071200364 1407215863

VI. Balance of cash and cash equivalents at the end of term 1506083248 3438678710

II. Note to the Adjustment of Financial Statements

1. Adjustment of financial statements at the beginning of the year according to the implementation of the

new lease standard for the first time from 2021

√Applicable □Not applicable

Whether it is necessary to adjust the balance sheet accounts at the beginning of the year

√Yes □No

According to the "Accounting Standards for Business Enterprises No. 21-Leases" (hereinafter referred to as the New Lease Standards)

issued by the Ministry of Finance of the People's Republic of China in December 2018 companies that are listed at the same time

both domestically and overseas as well as those listed overseas and adopt financial reporting standards or companies that implement

the Accounting Standards for Business Enterprises shall take effect on January 1 2019; other companies that implement the

Accounting Standards for Business Enterprises shall take effect on January 1 2021.

The main impacts of the implementation of the new lease standard on the company's financial statements on January 1 2021 are as

follows:

Item December 31 2020 January 1 2021 Adjust data

Long-term prepaid

expenses

10381937 741179 -9640758

Right-of-use asset 9640758 9640758

Total 10381937 10381937

2. Explanation of the retrospective adjustment of the previous comparative data of the new lease standard

for the first time from 2021

□ Applicable √Not applicable

III. Report of the Auditors

Whether the First Quarter Report has been audited or not

□ Yes √ No

The First Quarter Report hasn’t been audited.

Board of Directors of

CSG Holding Co. Ltd.

24 April 2021