南玻B:2024年第三季度报告（英文版）

CSG HOLDING CO. LTD.THE THIRD QUARTER REPORT 2024

Chairman of the Board:

CHEN LIN

October 2024CSG HOLDING CO. LTD. The Third Quarter Report 2024

Stock code: 000012; 200012 Short form of the stock: CSG A; CSG B Notice No.: 2024-026

CSG HOLDING CO. LTD.THE THIRD QUARTER REPORT 2024

The Company and all members of the Board of Directors guarantee that the information disclosed is true

accurate and complete and there are no any fictitious statements misleading statements or important omissions

carried in this report.Important Content Notice：

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

Company) and its directors supervisors and senior executives hereby confirm that there are no any fictitious

statements misleading statements or important omissions carried in this report and shall take all

responsibilities individual and/or joint for the facticity accuracy and completeness of the whole contents.

2. Principal of the Company responsible person in charge of accounting and principal of the financial

department (accounting officer) confirm that the Financial Report enclosed in the Third Quarter Report of 2024

of the Company is true accurate and complete.

3. Whether the third quarter report has been audited or not

□Yes √No

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.I. Main financial data

(I) Main accounting data and financial indices

Whether retrospective adjustment has been carried out on financial reports of previous periods or not

□Yes √No

Increase/dec

Increase/decrease

rease in

in comparison From 1 January to

comparison

The report period with the same 30 September

with the

period of the 2024

same period

previous year

of 2023

Operating income (RMB) 3757912090 -26.18% 11836882741 -12.19%

Net profit attributable to shareholders of the

53338172-90.76%786449734-46.38%

listed company (RMB)

Net profit attributable to shareholders of the

listed company after deducting non-recurring 28003017 -94.80% 700904209 -49.07%

gains and losses (RMB)

1CSG HOLDING CO. LTD. The Third Quarter Report 2024

Net cash flow arising from operating activities

——1352827714-16.71%

(RMB)

Basic earnings per share (RMB/Share) 0.02 -89.47% 0.26 -45.83%

Diluted earnings per share (RMB/Share) 0.02 -89.47% 0.26 -45.83%

Weighted average ROE 0.51% -3.67% 5.59% -5.39%

The end of the The end of the Increase/decrease in comparison

report period previous year with the end of the previous year

Total assets (RMB ) 31909612693 30362057312 5.10%

Net assets attributable to shareholders of the

14070966644140508402170.14%

Company (RMB )

(II)Items and amounts of non-recurring gains and losses

√Applicable □Not applicable

Unit: RMB

Amount from

the beginning of

Item The report period year to the end Note

of the report

period

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

632094265283

write-off that accrued for impairment of assets)

Governmental subsidy reckoned into current gains/losses (not

including the subsidy enjoyed in quota or ration according to national 31056005 89573362

standards which are closely relevant to enterprise’s business)

In addition to the effective hedging business related to the normal

operation of the company the profit or loss of fair value changes

arising from the holding of financial assets and financial liabilities by

924109

non-financial enterprises and the loss or gain arising from the disposal

of financial assets and financial liabilities and available for sale

financial assets

Reversal of provision for impairment of receivables that have been

3604207180199

individually tested for impairment

Profit and loss from debt restructuring 2665583 3234725

Other non-operating income and expenditure except for the

-3734323-1986024

aforementioned items

Less: Impact on income tax 4681173 15739281

Impact on minority shareholders’ equity (post-tax) 394566 1906848

Total 25335155 85545525 --

Particulars about other gains and losses that meet the definition of non-recurring gains and losses:

□ Applicable √ Not applicable

It did not exist that other profit and loss items met the definition of non-recurring gains and losses.Explanation of the non-recurring gains and losses listed in the Explanatory Announcement No.1 on Information Disclosure for

Companies Offering their Securities to the Public - Non-recurring Gains and Losses as recurring gains and losses

□ Applicable √ Not applicable

It did not exist that 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 were defined as recurring profit and loss items in the

report period.

2CSG HOLDING CO. LTD. The Third Quarter Report 2024

(III) Particulars and explanations about significant changes in main accounting data and financial indices

√Applicable □Not applicable

The Group's major accounting statement items financial indicators changes and reasons

Unit: RMB

Rate of

Item of balance sheet Note 30 September 2024 1 January 2024

increase/decrease

Financing of receivables (1) 692651276 529945623 31%

Non-current assets due within one year (2) 84191224 -100%

Deferred tax assets (3) 307901950 223025031 38%

Other non-current assets (4) 177227728 396600354 -55%

Short-term loan (5) 645705148 436853583 48%

Other payables (6) 341154337 484741877 -30%

Non-current liabilities due within one year (7) 1713098203 1248891979 37%

Other current liabilities (8) 280696087 454332686 -38%

Long-term payables (9) 455894376 88204163 417%

Special reserves (10) 3347163 1411139 137%

From January to From January to Rate of

Item of income statement Note

September 2024 September 2023 increase/decrease

Other income (11) 163689941 89046515 84%

Investment income (12) -3501978 -6890163 -49%

Asset impairment losses (13) -73432355 -84232 87079%

Credit impairment losses (14) 9214780 -18898917 --

Asset disposal income (15) 4265283 76520 5474%

Non-operating income (16) 6367897 13420148 -53%

Non-operating expenses (17) 8353921 1048888 696%

Income tax expense (18) 32944644 112486716 -71%

Net amount of other comprehensive income

(19)-5863049139505-106%

after tax

Note:

(1) The increase in receivables financing was mainly due to a decrease in bank acceptance bills used as collateral for issuing bills.

(2) The decrease of non-current assets due within one year is mainly due to the maturity of certificates of deposit purchased earlier.

(3) The increase in deferred tax assets was mainly due to the decrease in profits of some subsidiaries.

(4) The decrease in other non-current assets was mainly due to the decrease in prepayment for construction equipment.

(5) The increase in short-term borrowings was mainly due to the increase in borrowings of some subsidiaries.

(6) The decrease in other payables was mainly due to the return of deposits and deposits.

(7) The increase in non-current liabilities due within one year was mainly due to the increase in long-term borrowings due within

one year.

(8) The decrease in other current liabilities was primarily due to the reclassification of supply chain finance instruments to notes

payable.

(9) The increase in long-term payables was mainly due to the increase in the financial leasing business of some subsidiaries.

(10) The increase in special reserves was mainly due to the provision of special reserves.

(11) The increase in other income was mainly due to an increase in tax benefits such as the value-added tax deduction.

(12) The change in investment income was mainly due to the increase in debt restructuring gains.

3CSG HOLDING CO. LTD. The Third Quarter Report 2024

(13) The increase in asset impairment loss was mainly caused by the small amount in the previous period and the provision for

inventory depreciation of some subsidiaries.

(14) The change in credit impairment loss was mainly due to the decrease in accounts receivable and the recovery of part of the

special bad debt reserve.

(15) The increase in income from asset disposal was mainly due to the increase in income from the disposal of non-current assets

of some subsidiaries and the smaller amount in the previous period.

(16) The decrease in non-operating income was mainly due to changes such as unpayable payments.

(17) The increase in non-operating expenses was mainly due to changes in the disposal of non-current assets by some subsidiaries.

(18) The decrease in income tax expense was mainly due to the decrease in the total profit of some subsidiaries.

(19) The change in net other comprehensive income after tax is mainly due to the change in the translation difference of the

foreign currency statements.II. Shareholder information

(I) Particulars about the total number of common shareholders and preference shareholders with voting

rights recovered as well as the shareholdings of the top ten shareholders

Unit: Share

Total number of common shareholders at Total number of preference shareholders with voting

1431770

the end of the report period rights recovered at end of report period (if applicable)

Particulars about the shareholdings of the top ten shareholders（Excluding shares lent through refinancing）

Number of share

Proportion Amount of pledged marked or

Nature of Amount of

Name of shareholder of shares restricted frozen

shareholder shares held

held (%) shares held Share

Amount

status

Domestic non

Foresea Life Insurance Co. Ltd. –

state-owned 15.19% 466386874 0

HailiNiannian

legal person

Domestic non

# Shenzhen Sigma C&T Co. Ltd. state-owned 3.92% 120385406 0

legal person

Domestic non

Foresea Life Insurance Co. Ltd. –

state-owned 3.86% 118425007 0

Universal Insurance Products

legal person

Domestic non

Foresea Life Insurance Co. Ltd. – Own

state-owned 2.11% 64765161 0

Fund

legal person

China Galaxy International Securities Foreign legal

1.34%410345780

(Hong Kong) Co. Limited person

Foreign legal

Hong Kong Securities Clearing Co. Ltd. 0.96% 29353250 0

person

Domestic non Pledged 18980000

Zhongshan Runtian Investment Co. Ltd. state-owned 0.62% 18983447 0

legal person Frozen 18983447

China Merchants Securities (Hong Kong) Foreign legal

0.60%183356110

Limited person

4CSG HOLDING CO. LTD. The Third Quarter Report 2024

VANGUARD TOTAL INTERNATIONAL Foreign legal

0.57%175372130

STOCK INDEX FUND person

VANGUARD EMERGING MARKETS Foreign legal

0.56%171021950

STOCK INDEX FUND person

Particular about top ten shareholders with un-restricted shares held

（Excluding shares lent through refinancing and executive lock-in shares）

Amount of unrestricted Type of shares

Name of shareholder

shares held Type Amount

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

# Shenzhen Sigma C&T Co. Ltd. 120385406 RMB ordinary shares 120385406

Foresea Life Insurance Co. Ltd. – Universal Insurance

118425007 RMB ordinary shares 118425007

Products

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

China Galaxy International Securities (Hong Kong) Co. Domestically listed

4103457841034578

Limited foreign shares

Hong Kong Securities Clearing Co. Ltd. 29353250 RMB ordinary shares 29353250

Zhongshan Runtian Investment Co. Ltd. 18983447 RMB ordinary shares 18983447

Domestically listed

China Merchants Securities (Hong Kong) Limited 18335611 18335611

foreign shares

VANGUARD TOTAL INTERNATIONAL STOCK Domestically listed

1753721317537213

INDEX FUND foreign shares

VANGUARD EMERGING MARKETS STOCK INDEX Domestically listed

1710219517102195

FUND foreign shares

As of the end of the report period 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.Statement on associated relationship or consistent action Shenzhen Jushenghua Co. Ltd. which holds 51% equity of Foresea Life

among the above shareholders: Insurance Co. Ltd. holds 100% equity of Zhongshan Runtian

Investment Co.Ltd and Chengtai Group Co. Ltd. through Shenzhen

Hualitong Investment Co. Ltd. Chengtai Group Co. Ltd. holds

40187904 shares through China Galaxy International Securities (Hong

Kong) Co. Limited.As of the end of the report period shareholder Shenzhen Sigma C&T

Co. Ltd. holds 0 shares of the Company through an ordinary account

Description of the top 10 shareholders participating in

and 120385406 shares of the Company through the customer credit

margin trading (if applicable)

transaction guarantee securities account of Huatai Securities Co. Ltd.totaling 120385406 shares of the Company.Special note: On July 11 2022 at the Company's Second Extraordinary General Meeting in 2022 Foresea Life Insurance Co. Ltd.voted in favor of all proposals and Zhongshan Runtian Investment Co. Ltd. voted against all proposals Chengtai Group Co. Ltd.voted against all the proposals with the shares held by China Galaxy International Securities (Hong Kong) Co. Limited; on August

3 2022 at the Company's Third Extraordinary General Meeting in 2022 Foresea Life Insurance Co. Ltd. voted in favor of all

proposals and Zhongshan Runtian Investment Co. Ltd. voted against all proposals.Shareholders holding more than 5% the top 10 shareholders and the top 10 shareholders of unlimited tradable shares participate in

the refinancing business to lend shares

□ Applicable √ Not applicable

The top 10 shareholders and the top 10 shareholders of unlimited outstanding shares have changed from the previous period due to

refinancing lending/restitution reasons

5CSG HOLDING CO. LTD. The Third Quarter Report 2024

□ Applicable √ Not applicable

(II) Total number of preference shareholders and particulars about the shareholdings of the top ten

preference shareholders

□Applicable √Not applicable

III. Other important matters

√Applicable □ Not applicable

1. Ultra-short-term financing bills

On May 16 2022 the Company's 2021 Annual General Meeting reviewed and approved the "Proposal on Application for

Registration and Issuance of Medium-Term Notes and Ultra-short-term Financing Bills" which agreed that the Company would

register and issue ultra-short-term financing bills with a registered amount of not more than RMB 1 billion The Company can issue

one or more times within the validity period of the registration according to the actual capital needs and the capital situation of the

inter-bank market. On October 30 2023 the Dealers Association held the 128th registration meeting in 2023 and decided to accept

the registration of ultra-short-term financing notes with a total amount of RMB 1 billion and a validity period of two years.

2. Medium-term notes

On May 16 2022 the Company's 2021 Annual General Meeting reviewed and approved the "Proposal on Application for

Registration and Issuance of Medium-term Notes and Ultra-short-term Financing Bills" which agreed that the Company would

register and issue medium-term notes with a registered amount of not more than RMB 2 billion. Actual capital needs and inter-bank

market capital status can be issued one or more times within the validity period of registration. On October 30 2023 the Dealers

Association held its 128th registration meeting for 2023 and decided to accept the registration of medium-term notes with a total

value of RMB 2 billion and a validity period of two years.

3. Guarantee situation

The 2023 Annual General Meeting of the Company reviewed and passed the Proposal for the 2024 Guarantee Plan and approved

the Company and its subsidiaries to provide guarantees in a total amount of not exceeding RMB 24400 million (including the

effective and unexpired amount) for the 2024 credit lines from financial institutions to guaranteed entities within the scope of

consolidated statements. Among them the total amount of guarantees for all guaranteed entities with asset liability ratio of 70% or

above shall not exceed the equivalent amount of RMB 2000 million (including the effective and unexpired amount). The

Company’s external guarantees are all provided for subsidiaries within the scope of consolidated statement. As of 30 September

2024 the actual guarantee balance was RMB 8054.79 million (of which the actual guarantee balance with liability/asset ratio of

70% or above was RMB 468 million) accounting for 57.33% of the parent company’s audited net assets of RMB 14050.84

million at the end of 2023 and 26.53% of the audited net assets of RMB 30362.06 million. The Company has no overdue

guarantee.The Company’s 2022 Annual General Meeting reviewed and passed the Proposal on the Development of Asset Pool Business in

2023. In order to achieve the overall management of the Company’s assets such as bills and letters of credit the General Meeting

of Shareholders approved the Company and its subsidiaries to conduct asset pool business of no more than RMB 1.6 billion. Under

the premise of controllable risks various guarantee methods such as maximum pledge general pledge deposit certificate pledge

bill pledge and margin pledge can be adopted for business development. As of September 30 2024 the actual pledge amount of

the asset pool business was RMB 1052.75 million and the financing balance was RMB1028.53 million.

4. The matter of the special fund of RMB 171 million for talent introduction

Regarding the special fund of RMB 171 million for talent introduction the Company filed an infringement compensation lawsuit

6CSG HOLDING CO. LTD. The Third Quarter Report 2024

against Zeng Nan and others and Yichang Hongtai Real Estate Co. Ltd. on December 15 2021 and Shenzhen Intermediate

People's Court officially accepted it on January 28 2022. The first trial of the case was completed in Shenzhen Intermediate

People's Court on June 21 2022. On 4 June 2024 the Company received the Civil Judgment of the first instance issued by

Shenzhen Intermediate People's Court which rejected all of the Company's litigation requests. In June 2024 the Company filed an

appeal to Guangdong Higher People's Court. The Guangdong Provincial High People's Court organized a court investigation on

September 12 2024 and the case is currently in the process of the second instance.

5. Postponed re-election of the Board of Directors and the Supervisory Committee

The term of office of the ninth Board of Directors and Supervisory Committee of the Company expired on 21 May 2023 and re-

election is progressing steadily as of now. According to Articles 96 and 138 of the Articles of Association of CSG Holding Co. Ltd.if a new director/supervisor is not re-elected in time upon the expiry of the term of office of a director/supervisor before the re-

elected director/supervisor assumes his/her office the former director/supervisor shall still perform the duties of a

director/supervisor in accordance with the provisions of laws administrative regulations departmental rules and the Articles of

Association. Therefore the members of the ninth Board of Directors and Supervisory Committee are still performing their duties

in a normal manner and the re-election of the Board of Directors and the Supervisory Committee would not have any adverse

impact on the Company’s operation and governance.IV. Quarterly financial statement

(I) Financial Statements

1. Consolidated Balance Sheet

Prepared by CSG Holding Co. Ltd.September 30 2024

Unit: RMB

Item Ending balance Opening balance

Current asset:

Monetary capital 3111040036 3076774218

Notes receivable 1426875087 1593520494

Accounts receivable 1818343894 1881796408

Receivables financing 692651276 529945623

Prepayments 110874707 155476645

Other receivables 169551648 177957033

Inventory 1932562851 1590224795

Non-current assets due within one year 84191224

Other current assets 443522008 352066698

Total current assets 9705421507 9441953138

Non-current assets:

Investment real estate 292711858 290368105

Fixed assets 13530838235 13145568631

Construction in progress 5454006557 4325016420

Right-of-use assets 20184637 21637628

Intangible assets 2393471529 2490530224

Goodwill 8593352 8593352

Long-term prepaid expenses 19255340 18764429

7CSG HOLDING CO. LTD. The Third Quarter Report 2024

Deferred tax assets 307901950 223025031

Other non-current assets 177227728 396600354

Total non-current assets 22204191186 20920104174

Total assets 31909612693 30362057312

Current liabilities:

Short-term loan 645705148 436853583

Notes payable 2235897363 2041353189

Accounts payable 3654912439 3341624602

Contractual liabilities 375536651 362538795

Payroll payable 377491165 483337796

Taxes payable 124289876 123407413

Other payables 341154337 484741877

Including: interest payable 8709606 8751408

Non-current liabilities due within one 1713098203 1248891979

year

Other current liabilities 280696087 454332686

Total current liabilities 9748781269 8977081920

Non-current liabilities:

Long term borrowing 6597982971 6221648676

Lease liability 14439865 15134562

Long- term payables 455894376 88204163

Provisions 12126358 13050082

Deferred income 465083207 430143830

Deferred income tax liabilities 72044171 80087910

Total non-current liabilities 7617570948 6848269223

Total Liabilities 17366352217 15825351143

Owners' equity:

Share capital 3070692107 3070692107

Capital reserve 590739414 590739414

Other comprehensive income 176798167 177384471

Special reserves 3347163 1411139

Surplus reserve 1404063298 1404063298

Undistributed profit 8825326495 8806549788

Total owner's equity attributable to the 14070966644 14050840217

parent company

Minority shareholders' equity 472293832 485865952

Total owner's equity 14543260476 14536706169

Total Liabilities and Owner's Equity 31909612693 30362057312

Legal Representative:Chen Lin Principal in charge of accounting: Wang Wenxin Principal of the financial department:Wang Wenxin

2. Consolidated income statement from the beginning of the year to the end of the report period

Unit: RMB

Item Balance of this period Balance of last period

I. Total operating income 11836882741 13479933172

Including: operating income 11836882741 13479933172

8CSG HOLDING CO. LTD. The Third Quarter Report 2024

II. Total operating costs 11129310130 11986880573

Including: Operating costs 9579246755 10411924063

Taxes and surcharges 103202022 119629477

sales expense 218271462 227015823

Management costs 604663531 566835376

R&D expenses 492247639 547735584

Financial expenses 131678721 113740250

Including: interest expense 175763557 168803141

Interest income 43019119 59319450

Plus: other income 163689941 89046515

Investment income (“-” for loss) -3501978 -6890163

Credit impairment loss (“-” for loss) 9214780 -18898917

Asset impairment loss (“-” for loss) -73432355 -84232

Asset disposal income (“-” for loss) 4265283 76520

III. Operating profit (“-” for loss) 807808282 1556302322

Plus: non-operating income 6367897 13420148

Less: non-operating expenses 8353921 1048888

IV. Gross profit (“-” for loss) 805822258 1568673582

Less: Income tax expenses 32944644 112486716

V. Net profit (“-” for net loss) 772877614 1456186866

(I) Classification by business continuity

1. Net profit from continuing operations (“-” for net loss) 772877614 1456186866

(II) )Classification by ownership

1. Net profit attributable to the owners of parent company(“-” 786449734 1466672010

for net loss)

2. Minor shareholders’ equity(“-” for net loss) -13572120 -10485144

VI. Net amount of other gains after tax -586304 9139505

Net amount of other gains after tax attributable to owners of -586304 9139505

paren(tI )cOomthpera ncyo mprehensive income that will be reclassified into -586304 9139505

profit or loss

1. Foreign currency financial statement translation difference -586304 9139505

VII. Total comprehensive incomes 772291310 1465326371

(I)Total comprehensive incomes attributable to the owners of 785863430 1475811515

the pa(IrIe)n Tt ocotaml cpoamnyp rehensive incomes attributable to the minor -13572120 -10485144

shareholders

VIII. Earnings per share:

(I) Basic earnings per share 0.26 0.48

(II) Diluted earnings per share 0.26 0.48

Legal Representative:Chen Lin Principal in charge of accounting: Wang Wenxin Principal of the financial department:Wang Wenxin

3. Consolidated cash flow statement from the beginning of the year to the end of the report period

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 12544628953 12804613983

Tax returned 33479348 142833477

9CSG HOLDING CO. LTD. The Third Quarter Report 2024

Other cash received from business operation 195290801 241778916

Sub-total of cash inflow from business activities 12773399102 13189226376

Cash paid for purchasing of merchandise and services 8796586514 8894605626

Cash paid to staffs or paid for staffs 1696953881 1639320393

Taxes paid 514942141 723844134

Other cash paid for business activities 412088852 307209951

Sub-total of cash outflow from business activities 11420571388 11564980104

Net cash flow generated by business operation 1352827714 1624246272

II. Cash flow generated by investing

Cash received from investment recovery 262800000 20000000

Cash received from investment income 5760233 1151742

Net cash retrieved from disposal of fixed assets intangible 22364672 330178

assets and other long-term assets

Other investment-related cash received 37246122

Sub-total of cash inflow due to investment activities 290924905 58728042

Cash paid for construction of fixed assets intangible assets and 1852370153 3356862925

othCear slho npga-itde rfmor ainssveetsst ment 169254000 20000000

Obtain net cash payments from subsidiaries and other operating 696000

units

Other cash paid for investment activities 33644589

Sub-total of cash outflow due to investment activities 2055268742 3377558925

Net cash flow generated by investment -1764343837 -3318830883

III. Cash flow generated by financing

Absorb cash received from investment 68000000

Including: cash received by the subsidiary from absorbing 68000000

minority shareholders' investment

Cash received as loans 2632768993 2766410839

Other financing-related cash received 458231000 12000000

Subtotal of cash inflow from financing activities 3090999993 2846410839

Cash to repay debts 1602050543 2430592680

Cash paid as dividend profit or interests 977850781 748477707

Other cash paid for financing activities 103595003 46582943

Subtotal of cash outflow due to financing activities 2683496327 3225653330

Net cash flow generated by financing 407503666 -379242491

IV. Influence of exchange rate alternation on cash and cash 5518632 5115862

equivalents

V. Net increase of cash and cash equivalents 1506175 -2068711240

Plus: Balance of cash and cash equivalents at the beginning of 3051261655 4594018251

term

VI. Balance of cash and cash equivalents at the end of term 3052767830 2525307011

Legal Representative:Chen Lin Principal in charge of accounting: Wang Wenxin Principal of the financial department:Wang Wenxin（II）Implementation of new accounting standards for the first time starting from 2024

and adjustment of the relevant items in the financial statements at the beginning of the year

行情