CSG HOLDING CO. LTD.THE First QUARTER REPORT 2026
Chairman of the Board:
CHEN LIN
April 2026
1CSG HOLDING CO. LTD. The First Quarter Report 2026
Stock Code: 000012/200012 Short Form of Stock: Southern Glass A/B Notice No.:2026-015
CSG Holding Co. Ltd.The First Quarter Report 2026
The Company and all members of the Board of Directors guarantee that the contents of the
information disclosed are true accurate and complete and that there are no false representations
misleading statements or material omissions.Important Notice:
1.The Board of Directors and the directors and senior management of the Company guarantee that
the contents of this quarterly report are true accurate and complete and that there are no false
representations misleading statements or material omissions and accept individual and joint legal
liabilities for the same.
2.Head of the Company the person in charge of accounting work and the person in charge of the
accounting institution (Chief Financial Officer) hereby declare that they guarantee the financial
information disclosed in this quarterly report to be true accurate and complete.
3.Whether the First Quarterly Financial Report has been audited.
□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. Key Financial Data
(I) Key Accounting Data and Financial Indicators
Whether the Company is required to retrospectively adjust or restate accounting data of prior years.□Yes□No
The current reporting Same period of the prior Year-on-year change
period year (%)
Operating Revenue (RMB) 2990246615 3068825224 -2.56%
Net profit attributable to shareholders of the
listed company (RMB) -98642973 15869985 -721.57%
Net profit attributable to shareholders of the
listed company excluding non-recurring gains -120943547 -15069846 -702.55%
and losses (RMB)
1CSG HOLDING CO. LTD. The First Quarter Report 2026
Net cash flows from operating activities (RMB) 39071248 69245929 -43.58%
Basic earnings per share (RMB/share) -0.03 0.005 -700%
Diluted earnings per share (RMB/share) -0.03 0.005 -700%
Weighted average return on equity (ROE) -0.75% 0.12% -0.87%
End of the current Change from end of
reporting period End of the prior year prior year (%)
Total assets (RMB) 31689536306 31305028835 1.23%
Net assets attributable to shareholders of the
listed company (RMB) 13034107139 13145488958 -0.85%
(II) Items and Amounts of Non-recurring Gains and Losses
□Applicable □Not applicable
Unit: RMB
Item Amount in the currentreporting period Explanation
Gain/loss on disposal of non-current assets (including the write-off portion of
accrued asset impairment provisions) 2836751
Government grants recognised in profit or loss (excluding those that are closely
related to the Company’s normal business activities comply with national
policies are entitled under specified standards and have a continuing effect on 15661980
the Company’s profit or loss)
Gains/losses arising from changes in fair value of financial assets and financial
liabilities held by non-financial enterprises and gains/losses from disposal of
financial assets and financial liabilities excluding effective hedging activities 3627874
related to the Company’s normal business operations
Reversal of provision for impairment of receivables that were individually tested
for impairment 2986056
Gain/loss on debt restructuring 1567278
Other non-operating income and expenses other than those mentioned above -722453
Less: Tax effect amount 3015291
Effect on non-controlling interests (after tax) 641621
Total 22300574 --
Details of Other Profit/Loss Items That Meet the Definition of Non-recurring Gains and Losses
□Applicable□Not applicable
The Company has no other profit/loss items that meet the definition of non-recurring gains and losses.Explanation of Items Listed as Non-recurring Gains and Losses in the “Explanatory Announcement No. 1 onInformation Disclosure for Companies Offering Their Securities to the Public — Non-recurring Gains and Losses”
that are Classified as Recurring Gains and Losses
□Applicable□Not applicableThe Company has no items that are listed as non-recurring gains and losses in the “Explanatory Announcement No. 1on Information Disclosure for Companies Offering Their Securities to the Public — Non-recurring Gains and Losses”
that are classified as recurring gains and losses.(III) Explanation of Changes in Key Accounting Data and Financial Indicators
□Applicable □Not applicable
Unit: RMB
2CSG HOLDING CO. LTD. The First Quarter Report 2026
Balance Sheet Items Note 31 March 2026 31 December 2025 Change (%)
Financial assets held for trading (1) 100000000 230000000 -57%
Inventories (2) 2556643370 1969149555 30%
Other non-current assets (3) 547315537 192896549 184%
Employee compensation payable (4) 206626515 329941978 -37%
Income Statement Items Note January–March 2026 January–March 2025 Change (%)
Finance costs (5) 59805874 45714584 31%
Other income (6) 24633396 42484302 -42%
Investment income (7) -775373 -4756507 -84%
Credit impairment losses (8) -27547996 -1307285 2007%
Gain on disposal of assets (9) 239472 1111342 -78%
Non-operating expenses (10) 2550936 441260 478%
Income tax expense (11) -15718060 2568703 -712%
Net amount of other comprehensive income after tax (12) -13096048 -2976861 340%
Notes:( 1)The decrease in financial assets held for trading was mainly due to the redemption of certain structured
deposits during the current reporting period.
(2)The increase in inventories was mainly due to an increase in finished goods during the current reporting period.
(3)The increase in other non-current assets was mainly due to an increase in large-denomination certificates of
deposit with a term of more than one year.
(4)The decrease in employee compensation payable was mainly due to the reduction in accrued compensation
from the prior year and the payment of such accrued compensation during the current reporting period.
(5)The increase in finance costs was mainly due to an increase in exchange losses and a decrease in interest
income among others.
(6)The decrease in other income was mainly due to a decrease in VAT additional deduction and government
grants among others.
(7)The change in investment income was mainly due to an increase in wealth management income during the
current reporting period among others.( 8) The increase in credit impairment losses was mainly due to an increase in provision for impairment of
accounts receivable during the current reporting period.
(9)The decrease in gain on disposal of assets was mainly due to a decrease in disposals of non-current assets
during the current reporting period.
(10)The increase in non-operating expenses was mainly due to an increase in penalty expenses among others.
(11)The decrease in income tax expense was mainly due to a decrease in profits of certain subsidiaries compared
with the same period of the prior year.
(12)The change in the net amount of other comprehensive income after tax was mainly due to the change in the
exchange difference on translation of foreign currency financial statements.
3CSG HOLDING CO. LTD. The First Quarter Report 2026
II. Shareholder Information
(I) Number of Holders of Ordinary Shares and Preferred Shares with Restored Voting Rights and
Shareholding of the Top 10 Shareholders
Unit: Share
Total number of preferred
Total number of ordinary shareholders at the end of the reporting 130522 shareholders with restored votingperiod rights at the end of the reporting 0
period (if any)
Shareholding of the Top 10 Shareholders (excluding shares lent through refinancing)
Total shares Number Pledged marked or
Name Nature of held at the Number of
of frozen
shareholder end of report shares held restricted
period (%) shares Share status Numberheld
Domestic Non-
Foresea Life Insurance Co. Ltd. – HailiNiannian state-owned 15.33% 466386874 0 N/A 0
Legal Person
Domestic Non-
Shenzhen Sigma C&T Co. Ltd. state-owned 3.96% 120385406 0 N/A 0
Legal Person
Foresea Life Insurance Co. Ltd. – Universal Domestic Non-
Insurance Products state-owned 3.89% 118425007 0 N/A 0Legal Person
Domestic Non-
Foresea Life Insurance Co. Ltd. – Own Fund state-owned 2.13% 64765161 0 N/A 0
Legal Person
China Galaxy International Securities (Hong Overseas Legal
Kong) Co. Limited Person 1.35% 41034578 0 N/A 0
Hong Kong Securities Clearing Co. Ltd. Overseas LegalPerson 1.06% 32172772 0 N/A 0
Li Xinqiang DomesticNatural Person 0.61% 18556000 0 N/A 0
VANGUARD TOTAL INTERNATIONAL Overseas Legal
STOCK INDEX FUND Person 0.58% 17537213 0 N/A 0
China Merchants Securities (Hong Kong) Limited Overseas LegalPerson 0.55% 16753823 0 N/A 0
NORGES BANK Overseas LegalPerson 0.52% 15766387 0 N/A 0
Particulars about top ten shareholders with unrestricted shares held
(Excluding shares lent through refinancing and executive lock-in shares)
Amount of Type of shares
Name unrestrictedshares held
at year-end 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 Products 118425007 RMB ordinary shares 118425007
Foresea Life Insurance Co. Ltd. – Own Fund 64765161 RMB ordinary shares 64765161
4CSG HOLDING CO. LTD. The First Quarter Report 2026
China Galaxy International Securities (Hong Kong) Co. Limited 41034578 Domestically listed foreign shares 41034578
Hong Kong Securities Clearing Co. Ltd. 32172772 RMB ordinary shares 32172772
Li Xinqiang 18556000 RMB ordinary shares 18556000
VANGUARD TOTAL INTERNATIONAL STOCK INDEX FUND 17537213 Domestically listed foreign shares 17537213
China Merchants Securities (Hong Kong) Limited 16753823 Domestically listed foreign shares 16753823
NORGES BANK 15766387 Domestically listed foreign shares 15766387
As of the end of the reporting period among the above
Explanation of the Related Party Relationships or Acting in Concert shareholders it is known that Foresea Life Insurance Co. Ltd.among the Above Shareholders – HailiNiannian Foresea Life Insurance Co. Ltd. - UniversalInsurance Products and Foresea Life Insurance Co. Ltd. -
Own Funds are all held by Foresea Life Insurance Co. Ltd.As of the end of the reporting period shareholder Shenzhen
Sigma C&T Co. Ltd. held 0 shares of the Company through
an ordinary securities account and 120385406 shares of the
Company through the margin account maintained with Huatai
Explanation of the Participation of the Top 10 Shareholders in Securities Co. Ltd. holding an aggregate of 120385406
Margin Trading and Short Selling Business (if any) shares of the Company. Shareholder Li Xinqiang held
17200000 shares of the Company through an ordinary
securities account and 1356000 shares through the margin
account maintained with China Merchants Securities Co. Ltd.holding an aggregate of 18556000 shares of the Company.Special Note: Among the top 10 shareholders CSG Holding Co. Ltd. has a repurchase special securities account
which as required is not included in the list of top 10 shareholders. As of 31 March 2026 the Company had
repurchased an aggregate of 52838338 A shares through the repurchase special securities account by way of
centralized bidding trading representing 1.74% of the Company's total share capital.Information on Lending of Shares under the Refinancing Business by Shareholders with 5% or More Shareholding
the Top 10 Shareholders and the Top 10 Unrestricted Tradable Shareholders
□Applicable□Not applicable
Changes in the Shareholdings of the Top 10 Shareholders and the Top 10 Unrestricted Tradable Shareholders due to
the Lending and Return of Shares under the Refinancing Business as Compared with the Prior Period
□Applicable□Not applicable
(II) Number of Preferred Shareholders of the Company and Shareholding of the Top 10 Preferred
Shareholders
□Applicable□Not applicable
III. Other Significant Events
□Applicable □Not applicable
1. Ultra-short-term financing bills
5CSG HOLDING CO. LTD. The First Quarter Report 2026
On 16 May 2022 the Company’s 2021 Annual General Meeting reviewed and approved the Proposal on the
Application for Registration and Issuance of Medium-Term Notes and Ultra-short-term financing bills approving the
Company to register and issue Ultra-short-term financing bills with a registered amount not exceeding RMB 1.0
billion. The Company may issue the Ultra-short-term financing bills in one or more tranches within the validity
period of the registration based on its actual funding needs and the funding conditions in the interbank market. On 25
April 2025 the Company issued the first tranche of its 2025 Ultra-short-term financing bills (Sci-Tech Innovation
Notes) with an aggregate amount of RMB 300 million and a term of 270 days at an issue rate of 2.27% and
completed the redemption on 23 January 2026.
2. Guarantees
The Company’s 2024 Annual General Meeting reviewed and approved the Proposal on the 2025 Guarantee Plan
authorizing the Company and its subsidiaries to provide guarantees of up to RMB 25.8 billion (or its equivalent in
foreign currency) (including amounts already effective but not yet due) to each guaranteed entity within the scope of
consolidation with respect to credit facilities granted by financial institutions for 2025. Within the total authorized
amount guarantees of up to RMB 6.2 billion (or its equivalent in foreign currency) (including amounts already
effective but not yet due) may be provided to guaranteed entities with a gearing ratio of 70% or above. The
Company’s external guarantees are all provided to its subsidiaries within the scope of consolidation. As of 31 March
2026 the outstanding guarantee balance amounted to RMB 8457.29 million (of which the outstanding balance of
guarantees provided to entities with a gearing ratio of 70% or above was RMB 2575.76 million) representing
64.34% of the net assets attributable to shareholders of the Company as at 31 December 2025 of RMB 13145.49
million and 27.02% of the total assets of RMB 31305.03 million. The Company had no overdue guarantees.The Company’s 2024 Annual General Meeting reviewed and approved the Proposal on Carrying Out Asset Pooling
Arrangements. In order to meet the Company’s needs for the centralized management of notes letters of credit and
other assets held by it the General Meeting approved the Company and its subsidiaries to carry out asset pooling
arrangements of no more than RMB 2.0 billion. Under the precondition that risks were controllable various
guarantee methods such as maximum amount pledge general pledge certificate of deposit pledge notes pledge and
margin pledge may be adopted for such arrangements. As of 31 March 2026 the amount actually pledged under the
asset pooling arrangements was RMB 864.66 million and the outstanding financing balance was RMB 850.36
million.
3. Postponement of the Re-election of the Board of Directors
The term of the Company’s ninth session of the Board of Directors expired on 21 May 2023 and as of the date of this
report the re-election process is being steadily advanced. Pursuant to Article 100 of the Articles of Association of
CSG Holding Co. Ltd. where the term of a director expires but the re-election has not been carried out in a timely
manner the original director shall continue to perform his/her duties in accordance with the provisions of laws
administrative regulations departmental rules and the Articles of Association until the re-elected director assumes
office. Accordingly the members of the ninth session of the Board of Directors continue to perform their duties
normally and the postponement of the re-election of the Board of Directors will not have any adverse effect on the
Company’s operations and management or its corporate governance.
4. Share Repurchase
The Company convened an interim meeting of the ninth session of the Board of Directors on 13 February 2025 and
the first interim General Meeting of 2025 on 4 March 2025. The meetings reviewed and approved the Proposal on the
Repurchase of Part of the Company’s RMB Ordinary Shares (A Shares) and Domestically Listed Foreign Shares (B
Shares) authorising the Company to use its own funds and self-raised funds (including commercial bank special
6CSG HOLDING CO. LTD. The First Quarter Report 2026
loans for repurchase etc.) to repurchase part of its A shares and B shares through the trading system of the Shenzhen
Stock Exchange by way of centralized bidding trading. The total amount of funds to be used for the repurchase of A
shares was not less than RMB 24300000 and not more than RMB 48500000 including transaction handling fees
and other related expenses; the total amount of funds to be used for the repurchase of B shares was not less than
HK$50000000 and not more than HK$100000000 including foreign exchange purchase costs transaction
handling fees and other related expenses. The repurchase price for A shares was set at not more than RMB 7.60 per
share and for B shares at not more than HK$3.13 per share. All A shares repurchased by the Company will be used
for equity incentives or employee stock ownership plans (the implementation of such equity incentives or employee
stock ownership plans is subject to the approval of the Board of Directors and the General Meeting of the Company);
all B shares repurchased will be cancelled. The implementation period of this repurchase is twelve months from the
date of approval of the repurchase plan by the General Meeting of the Company. For details see the Report on the
Repurchase of Part of the Company’s RMB Ordinary Shares (A Shares) and Domestically Listed Foreign Shares (B
Shares) disclosed by the Company on CNINFO (www.cninfo.com.cn) on 25 March 2025.Following the completion of the implementation of the Company’s 2024 Annual Equity Distribution the upper limit
of the repurchase price for A shares was adjusted from not more than RMB 7.60 per share to not more than RMB
7.53 per share and the estimated repurchase volume after adjustment was not less than 44443773 shares and not
more than 76581887 shares; the repurchase price for B shares was adjusted from not more than HK$3.13 per share
to not more than HK$3.05 per share and the estimated repurchase volume after adjustment was not less than
22139398 shares and not more than 38532841 shares.
As of 4 March 2026 the implementation period of this share repurchase had expired. The Company repurchased an
aggregate of 52838338 A shares and 28223296 B shares through the repurchase special securities account by way
of centralized bidding trading representing 2.6398% of the Company’s total share capital. The highest transaction
price for the repurchased A shares was RMB 5.04 per share (not exceeding the upper limit of RMB 7.53 per share
under the repurchase plan) the lowest transaction price was RMB 4.54 per share and the total amount of funds paid
was RMB 249974737.84 (excluding stamp duty trading commissions and other transaction fees). The highest
transaction price for the repurchased B shares was HK$1.94 per share (not exceeding the upper limit of HK$3.05 per
share under the repurchase plan) the lowest transaction price was HK$1.65 per share and the total amount of funds
paid was HK$50989016.13. The implementation of this share repurchase by the Company complied with all
applicable laws and regulations and conformed to the approved repurchase plan. The repurchase plan has been fully
implemented.As of 12 March 2026 the Company had completed the cancellation of the 28223296 B shares repurchased with the
Shenzhen Branch of China Securities Depository and Clearing Corporation Limited. Following the completion of the
cancellation of these repurchased shares the Company’s total share capital decreased from 3070692107 shares to
3042468811 shares.
IV. Quarterly Financial Statements
(I) Financial Statements
1. Consolidated Balance Sheet
Prepared by: CSG Holding Co. Ltd
31 March 2026
Unit: RMB
7CSG HOLDING CO. LTD. The First Quarter Report 2026
Item Balance at end of period Balance at beginning of period
Current assets:
Cash and cash equivalents 3182547430 3141975147
Financial assets held for trading 100000000 230000000
Notes receivable 1113771095 1420061226
Accounts receivable 1834123958 1802165051
Receivables financing 427478520 533418878
Prepayments 147695197 134771994
Other receivables 70109721 54386121
Inventories 2556643370 1969149555
Assets held for sale 5262859 5262859
Other current assets 540610776 474226753
Total current assets 9978242926 9765417584
Non-current assets:
Investment properties 286145387 286145387
Fixed assets 13675198136 13897777933
Construction in progress 4460748458 4420551577
Right-of-use assets 68164275 64277229
Intangible assets 2202241233 2238041467
Goodwill 3039946 3039946
Long-term prepaid expenses 66144888 68644513
Deferred tax assets 402295520 368236650
Other non-current assets 547315537 192896549
Total non-current assets 21711293380 21539611251
Total assets 31689536306 31305028835
Current liabilities:
Short-term borrowings 831891601 1158648329
Notes payable 2923935605 2557712651
Accounts payable 2743550468 2769745963
Contract liabilities 327368070 369377265
Employee compensation payable 206626515 329941978
Taxes payable 89478470 73812602
Other payables 407556068 369513739
Including: Interest payable 9817710 13362151
Dividends payable 34482724 34482724
Non-current liabilities due within one year 2181301567 1881828060
Other current liabilities 244984259 320616877
Total current liabilities 9956692623 9831197464
Non-current liabilities:
Long-term borrowings 7225451856 6882862147
Lease liabilities 25179310 23057883
Long-term payables 634668156 594270580
Provisions 27509100 27378869
Deferred income 292078040 301071111
Deferred tax liabilities 89494581 90503199
Total non-current liabilities 8294381043 7919143789
Total liabilities 18251073666 17750341253
Owners’ equity:
Share capital 3042468811 3070692107
Capital reserve 572217440 590739414
Less: Treasury shares 250024757 296770027
Other comprehensive income 137720860 150816908
Special reserve 6660112 6302910
Surplus reserve 1534714228 1534714228
Retained earnings 7990350445 8088993418
Total equity attributable to owners of the
parent 13034107139 13145488958
8CSG HOLDING CO. LTD. The First Quarter Report 2026
Non-controlling interests 404355501 409198624
Total equity 13438462640 13554687582
Total liabilities and equity 31689536306 31305028835
Legal Representative: Chen Lin Responsible person in charge of the accounting: Wang Wenxin Principal of the
financial department: Wang Wenxin
2. Consolidated Income Statement
Unit: RMB
Item Amount for the current period Amount for the same periodof the prior year
I. Total operating revenue 2990246615 3068825224
Including: Operating revenue 2990246615 3068825224
II. Total operating costs 3107569095 3099435788
Including: Operating cost 2660696039 2659427953
Taxes and surcharges 35140165 33730603
Selling expenses 55502713 67077091
Administrative expenses 182348574 176529548
Research and development expenses 114075730 116956009
Finance costs 59805874 45714584
Including: Interest expenses 61874114 60636256
Interest income 6499958 11032075
Add: Other income 24633396 42484302
Investment income (loss is indicated by “-” sign) -775373 -4756507
Credit impairment losses (loss is indicated by “-” sign) -27547996 -1307285
Gain on disposal of assets (loss is indicated by “-” sign) 239472 1111342
III. Operating profit (loss is indicated by “-” sign) -120772981 6921288
Add: Non-operating income 4119761 5272159
Less: Non-operating expenses 2550936 441260
IV. Total profit (total loss is indicated by “-” sign) -119204156 11752187
Less: Income tax expense -15718060 2568703
V. Net profit (net loss is indicated by “-” sign) -103486096 9183484
(I) By nature of operations
1. Net profit from continuing operations (net loss is
indicated by “-” sign) -103486096 9183484
(II) By ownership
1. Net profit attributable to owners of the parent -98642973 15869985
2. Profit/loss attributable to non-controlling interests -4843123 -6686501
VI. Net amount of other comprehensive income after tax -13096048 -2976861
Net amount of other comprehensive income after tax
attributable to owners of the parent -13096048 -2976861
(I) Other comprehensive income that will be reclassified
to profit or loss -13096048 -2976861
1. Exchange difference on translation of foreign
currency financial statements -13096048 -2976861
VII. Total comprehensive income -116582144 6206623
Total comprehensive income attributable to owners of the
parent -111739021 12893124
Total comprehensive income attributable to non-controlling
interests -4843123 -6686501
VIII. Earnings per share:
(I) Basic earnings per share -0.03 0.005
(II) Diluted earnings per share -0.03 0.005
Legal Representative: Chen Lin Responsible person in charge of the accounting: Wang Wenxin Principal of the
financial department: Wang Wenxin
9CSG HOLDING CO. LTD. The First Quarter Report 2026
3. Consolidated Cash Flow Statement
Unit: RMB
Item Amount for the current period Amount for the same period ofthe prior year
I. Cash flows from operating activities:
Cash received from sales of goods and rendering of
services 3173852936 3040297234
Refunds of taxes and levies 2311064 1645898
Other cash received relating to operating activities 65740029 37263834
Subtotal of cash inflows from operating activities 3241904029 3079206966
Cash paid for goods and services 2425842017 2177958548
Cash paid to and on behalf of employees 582952607 591305907
Cash paid for taxes and levies 106318584 110616466
Other cash paid relating to operating activities 87719573 130080116
Subtotal of cash outflows from operating activities 3202832781 3009961037
Net cash flows from operating activities 39071248 69245929
II. Cash flows from investing activities:
Cash received from disposal of investments 1318243598 721454000
Cash received from investment income 2361622 1320670
Net cash received from disposal of fixed assets
intangible assets and other long-term assets 8576274 4233004
Subtotal of cash inflows from investing activities 1329181494 727007674
Cash paid for acquisition and construction of fixed
assets intangible assets and other long-term assets 150270773 235334225
Cash paid for investments 1602767199 689000000
Other cash paid relating to investing activities 49115553 8504624
Subtotal of cash outflows from investing activities 1802153525 932838849
Net cash flows from investing activities -472972031 -205831175
III. Cash flows from financing activities:
Cash received from borrowings 1504690102 1934022067
Other cash received relating to financing activities 86775000
Subtotal of cash inflows from financing activities 1591465102 1934022067
Cash paid for repayment of borrowings 1068743352 1617842269
Cash paid for distribution of dividends or profits or for
payment of interest 70174319 67059301
Other cash paid relating to financing activities 77361834 73757544
Subtotal of cash outflows from financing activities 1216279505 1758659114
Net cash flows from financing activities 375185597 175362953
IV. Effect of foreign exchange rate changes on cash and
cash equivalents -5836192 2074225
V. Net increase in cash and cash equivalents -64551378 40851932
Add: Cash and cash equivalents at beginning of period 2981170323 3367873386
VI. Cash and cash equivalents at end of period 2916618945 3408725318
(II) Adjustments to Items in the Financial Statements at the Beginning of the Current Year Arising from the
First-Time Adoption of New Accounting Standards in 2026
□Applicable□Not applicable
(III) Audit Report
Whether the First Quarterly Financial Report has been audited
□Yes□No
10CSG HOLDING CO. LTD. The First Quarter Report 2026
The First Quarterly Financial Report of the Company has not been audited.Board of Directors of
CSG Holding Co. Ltd.
28 April 2026
11



