CSG HOLDING CO. LTD.THE THIRD QUARTER REPORT 2025
Chairman of the Board:
CHEN LIN
October 2025CSG HOLDING CO. LTD. The Third Quarter Report 2025
Stock code: 000012; 200012 Short form of the stock: CSG A; CSG B Notice No.: 2025-046
CSG HOLDING CO. LTD.THE THIRD QUARTER REPORT 2025
The Company and all members of the Board of Directors guarantee that the information disclosed is true
accurate and complete and there are no 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 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 2025
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/decreas
The report e in comparison From 1 January
Increase/decrease
period with the same to 30
in comparison
period of the September 2025 with the same
previous year period of 2024
Operating income (RMB) 3940452263 4.86% 10424014383 -11.94%
Net profit attributable to shareholders of the listed
company (RMB) 75864219 42.23% 150395724 -80.88%
Net profit attributable to shareholders of the listed
company after deducting non-recurring gains and 29087723 3.87% 50836518 -92.75%
losses (RMB)
Net cash flow arising from operating activities
(RMB) — — 832463508 -38.46%
1CSG HOLDING CO. LTD. The Third Quarter Report 2025
Basic earnings per share (RMB/Share) 0.03 50% 0.05 -80.77%
Diluted earnings per share (RMB/Share) 0.03 50% 0.05 -80.77%
Weighted average ROE 0.57% 0.06% 1.12% -4.47%
The end of the The end of the Increase/decrease in comparison with
report period previous year the end of the previous year
Total assets (RMB ) 31269652989 31220417923 0.16%
Net assets attributable to shareholders of the
Company (RMB ) 13249621252 13535949795 -2.12%
(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 write- 236814 4301662
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 standards 39255019 82379728
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 non- 1675022 4390843
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 7753875 11072546
individually tested for impairment
Profit and loss from debt restructuring 214501
Other non-operating income and expenditure except for the 6217777 14123776
aforementioned items
Less: Impact on income tax 7910966 15620765
Impact on minority shareholders’ equity (post-tax) 451045 1303085
Total 46776496 99559206 --
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 2025
(III) Particulars and explanations about significant changes in main accounting data and financial indices
√Applicable □Not applicable
Unit: RMB
Item of balance sheet Note 30 September 2025 31 December 2024 Rate of increase/decrease
Advance payment (1) 79268219 121708264 -35%
Other non-current assets (2) 318463474 99328456 221%
Taxes payable (3) 115659778 73688362 57%
Other current liabilities (4) 350773277 218529333 61%
Estimated liabilities (5) 18517675 13137220 41%
Treasury shares (6) 220414425 -
Item of income statement Note From January to From January toSeptember 2025 September 2024 Rate of increase/decrease
Other income (7) 113933376 163689941 -30%
Investment income (8) -10518093 -3501978 200%
Credit impairment losses (9) 5380563 9214780 -42%
Asset disposal income (10) 2771964 4265283 -35%
Non-operating income (11) 19565837 6367897 207%
Non-operating expenses (12) 3918194 8353921 -53%
Income tax expense (13) -2659442 32944644 -108%
Net amount of other
comprehensive income after tax (14) -4284090 -586304 631%
Note:
(1) The reduction in advance payments is mainly due to the arrival of advance payment for goods.
(2) The increase in other non-current assets is mainly due to the increase in advance payments for the purchase of
factory buildings etc.
(3) The increase in taxes payable is mainly due to the increase in value-added tax payable and others.
(4) The increase in other current liabilities is mainly due to the increase in notes that do not meet the criteria for
derecognition.
(5)The expected increase in accrued liabilities is mainly due to the provision for mine restoration fees by some
subsidiaries.
(6)The increase in Treasury shares is mainly due to the company's share repurchase.
(7)The decrease in other income was mainly due to the reduction in additional deductions for value-added tax etc.
(8)The changes in investment income are mainly due to the increase in bill discount interest and other factors.
(9) The reduction in credit impairment losses was mainly due to the recovery of some special bad debt provisions in
the current period.
(10)The decrease in asset disposal gains was mainly due to the reduction in the disposal of non-current assets in the
current period.
(11) The increase in non-operating income was mainly due to changes such as unpayable payments.
(12) The decrease in non-operating expenses was mainly due to the significant changes in the disposal of non-current
assets by some subsidiaries in the previous period which were relatively small in the current period.
(13) The reduction in income tax expenses was mainly due to the decrease in the total profits of some subsidiaries.
(14) The change in the net after-tax amount of other comprehensive income was mainly due to the change in the
conversion difference of foreign currency statements.
3CSG HOLDING CO. LTD. The Third Quarter Report 2025
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
the end of the report period 127343 with voting rights recovered at end of report 0period (if applicable)
Particulars about the shareholdings of the top ten shareholders（Excluding shares lent through refinancing）
Number of share
Proporti
Amount of pledged marked or
Nature of on of Amount of
Name of shareholder restricted frozen
shareholder shares shares held
shares held
held (%) Share Amount
status
Domestic non
Foresea Life Insurance Co. Ltd. –
state-owned 15.19% 466386874 0 Not 0
HailiNiannian applicable
legal person
Domestic non
Shenzhen Sigma C&T Co. Ltd. state-owned 3.92% 120385406 0 Not
legal person applicable
0
Domestic non
Foresea Life Insurance Co. Ltd. –
state-owned 3.86% 118425007 0 Not
Universal Insurance Products applicable
0
legal person
Domestic non
Foresea Life Insurance Co. Ltd. – Own
state-owned 2.11% 64765161 0 Not
Fund applicable
0
legal person
China Galaxy International Securities Foreign legal 1.34% 41034578 0 Not
(Hong Kong) Co. Limited person applicable
0
Foreign legal
Hong Kong Securities Clearing Co. Ltd. 0.71% 21786785 0 Not
person applicable
0
Li Xinqiang Domestic 0.59% 18059500 0 Notnatural persons applicable 0
VANGUARD TOTAL
INTERNATIONAL STOCK INDEX Foreign legal Not
FUND person
0.57% 17537213 0 applicable 0
VANGUARD EMERGING MARKETS Foreign legal
STOCK INDEX FUND person 0.57% 17434095 0
Not
applicable 0
China Merchants Securities (Hong Kong) Foreign legal Not
Limited person 0.55% 16910399 0 applicable 0
Particular about top ten shareholders with unrestricted shares held
（Excluding shares lent through refinancing and executive lock-in shares）
Amount of Type of shares
Name of shareholder unrestricted
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. 41034578 Domestically listed
Limited foreign shares
41034578
4CSG HOLDING CO. LTD. The Third Quarter Report 2025
Hong Kong Securities Clearing Co. Ltd. 21786785 RMB ordinary shares 21786785
Li Xinqiang 18059500 RMB ordinary shares 18059500
VANGUARD TOTAL INTERNATIONAL STOCK Domestically listed
INDEX FUND 17537213 foreign shares 17537213
VANGUARD EMERGING MARKETS STOCK INDEX
FUND 17434095
Domestically listed
foreign shares 17434095
China Merchants Securities (Hong Kong) Limited 16910399 Domestically listedforeign shares 16910399
As of the end of the report period among shareholders as listed
Statement on associated relationship or consistent action above Foresea Life Insurance Co. Ltd.-HailiNiannian ForeseaLife Insurance Co. Ltd.-Universal Insurance Products Foresea Life
among the above shareholders: Insurance Co. Ltd.-Own Fund are all held by Foresea Life
Insurance Co. Ltd.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 and 120385406 shares of the Company through the
customer credit transaction guarantee securities account of Huatai
Description of the top 10 shareholders participating in Securities Co. Ltd. totaling 120385406 shares of the Company;
margin trading (if applicable) shareholder Li Xinqiang holds 16703500 shares of the Company
through an ordinary account and 1356000 shares of the Company
through the customer credit transaction guarantee securities account
of China Merchants Securities Co. Ltd. totaling 18059500 shares
of the Company.Special note: Among the top ten shareholders CSG has a special securities account for repurchases which according to
regulations is not included in the list of top ten shareholders.As of September 302025the Company has repurchased a total of
61676667 shares through centralized bidding trading using its dedicated securities account for share repurchases(38191671 A
shares and 23484996 B shares were repurchased)the total proportion of the Company's total share capital is 2.0086%.Shareholders holding more than 5% the top 10 shareholders and the top 10 shareholders of unrestricted tradable shares participate
in the securities lending and borrowing 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
□ 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.On December 12 2024 the Company issued the first phase
5CSG HOLDING CO. LTD. The Third Quarter Report 2025
of 2024 ultra-short-term financing notes (Kechuang Notes) with a total amount of 300 million yuan and a term of 270
days with an issue interest rate of 2.4% and the payment was completed on September 9 2025.On April 25 2025 the
company issued the first phase of 2025 super short-term financing bond (Kechuang Note) with a total amount of 300
million yuan and a term of 270 days the issue interest rate is 2.27% and the redemption date is January 23 2026.
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.Depending on the actual capital needs and inter-bank market capital status the notes 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 2024 Annual General Meeting of the Company reviewed and passed the Proposal for the 2025 Guarantee Plan
and approved the Company and its subsidiaries to provide guarantees in a total amount of not exceeding RMB 25800
million (including the effective and unexpired amount) for the 2025 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 6200
million (including the effective and unexpired amount). The Company's external guarantees are all provided for
subsidiaries within the scope of the consolidated statement. As of September 302025 the actual guarantee balance
was RMB 8132.33 million (of which the actual guarantee balance with liability/asset ratio of 70% or above was
RMB 215.156 million) accounting for 60.08% of the parent company's net assets of RMB 13535.9498 million at the
end of 2024 and 26.05% of the total assets of RMB 31220.4179 million. The Company has no overdue guarantee.The Company's 2024 Annual General Meeting reviewed and passed the Proposal on the Development of Asset Pool
Business . 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 2 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 302025 the actual pledge amount of the asset pool business was RMB 504.16 million
and the financing balance was RMB 496.81 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 against Zeng Nan and others and Yichang Hongtai Real Estate Co. Ltd. on December 15 2021
and the 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 the Guangdong Higher People's Court.The second trial of the case was held in the Guangdong Higher People's Court on September 12 2024 and the case is
currently in the process of second trial.
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
6CSG HOLDING CO. LTD. The Third Quarter Report 2025
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.
6. Implementation progress of share buyback
The Company held an Interim Meeting of the Ninth Board of Directors and the First Extraordinary General
Shareholders' Meeting of 2025 on 13 February 2025 and 4 March 2025 respectively. The meetings reviewed and
approved the Proposal on the Buyback of Certain RMB Ordinary Shares (A Shares) and Domestically Listed
Foreign Shares (B Shares) of the Company authorizing the Company to use its own funds and self-pooled funds
(including special buyback loan from commercial bank) to buyback certain RMB ordinary shares (A Shares) and
domestically listed foreign shares (B Shares) through the Shenzhen Stock Exchange trading system in a centralized
bidding process. The total amount of funds used for the buyback of A shares will be no less than RMB 243 million
and no more than RMB 485 million including transaction fees and other related expenses; and the total amount of
funds used for the buyback of B shares will be no less than HKD 50 million and no more than HKD 100 million
including foreign exchange purchases transaction fees and other related expenses. The buyback price of A shares
will not exceed RMB 7.60 per share and the buyback price of B shares will not exceed HKD 3.13 per share. All A
shares bought back by the Company will be used for equity incentives or employee stock ownership plans
(implementation of which requires approval from the Company's Board of Directors and general shareholders'
meeting). All B shares bought back will be retired. The buyback period is twelve months from the date the buyback
plan is approved by the Company's general shareholders' meeting. For details please refer to the Report on the
Buyback of Certain RMB Ordinary Shares (A Shares) and Domestically Listed Foreign Shares (B Shares) of the
Company disclosed on 25 March 2025 on www.cninfo.com.cn.After the implementation of the Company's 2024 annual equity distribution the upper limit of the Company's
buyback price of A shares has been adjusted from no more than RMB 7.60 per share to no more than RMB 7.53 per
share. The estimated buyback quantity after the adjustment will be no less than 44443773 shares and no more than
76581887 shares. The buyback price of B shares has been adjusted from no more than HKD 3.13 per share to no
more than HKD 3.05 per share. The estimated buyback quantity after the adjustment will be no less than
22139398 shares and no more than 38532841 shares.
As of September 30 2025 the Company had bought back a total of 38191671 A shares and 23484996 B shares
through a dedicated buyback securities account through centralized bidding together representing 2.0086% of the
Company's total share capital. The highest transaction price for these repurchased A shares was RMB 5.04 per share
(within the upper limit of RMB 7.53 per share stipulated in the buyback plan) and the lowest transaction price was
RMB 4.54 per share. The total amount paid for the buyback of A shares was RMB 181479403.23 (excluding
transaction fees such as stamp duty and commissions). The highest transaction price for the repurchased B shares
was HKD 1.94 per share (within the upper limit of HKD 3.05 per share stipulated in the buyback plan) and the
lowest transaction price was HKD 1.65 per share. The total amount paid for the buyback of B shares was HKD
42392374.25. This buyback complied with applicable laws and regulations and was in line with the Company's
7CSG HOLDING CO. LTD. The Third Quarter Report 2025
established buyback plan.IV. Quarterly financial statement
(I) Financial Statements
1. Consolidated Balance Sheet
Prepared by CSG Holding Co. Ltd.September 30 2025
Unit: RMB
Item Ending balance Opening balance
Current asset:
Monetary capital 3027995606 3421527482
Trading financial assets 100000000 96000000
Notes receivable 1107429918 1140902743
Accounts receivable 2176865729 1686627681
Receivables financing 718329786 798603111
Prepayments 79268219 121708264
Other receivables 175008416 165872735
Inventory 1656539629 1587828028
Other current assets 422297376 475617056
Total current assets 9463734679 9494687100
Non-current assets:
Investment real estate 299946652 293712453
Fixed assets 14162535092 13166391449
Construction in progress 4251336413 5350375132
Right-of-use assets 64570045 64804837
Intangible assets 2276610829 2361275093
Goodwill 8593352 8593352
Long-term prepaid expenses 68635461 71254985
Deferred tax assets 355226992 309995066
Other non-current assets 318463474 99328456
Total non-current assets 21805918310 21725730823
Total assets 31269652989 31220417923
Current liabilities:
Short-term loan 932643744 1163021299
Notes payable 2327914720 2244413755
Accounts payable 2996202810 3092025797
Contractual liabilities 359229752 354215784
Payroll payable 281483088 347769466
Taxes payable 115659778 73688362
Other payables 236548921 312816531
Including: interest payable 11703115 8946479
Non-current liabilities due within one year 2397063439 2168856957
Other current liabilities 350773277 218529333
Total current liabilities 9997519529 9975337284
Non-current liabilities:
Long term borrowing 6421392787 6151608472
Lease liability 25027501 21650607
8CSG HOLDING CO. LTD. The Third Quarter Report 2025
Long- term payables 546219378 464617473
Provisions 18517675 13137220
Deferred income 463591547 487252038
Deferred income tax liabilities 92301816 104170857
Total non-current liabilities 7567050704 7242436667
Total Liabilities 17564570233 17217773951
Owners' equity:
Share capital 3070692107 3070692107
Capital reserve 590739414 590739414
Subtract: Treasury stock 220414425
Special reserves 155442179 159726269
Surplus reserve 4726898 5079628
Undistributed profit 1485514182 1485514182
Total owner's equity attributable to the parent company 8162920897 8224198195
Minority shareholders' equity 13249621252 13535949795
Total owner's equity 455461504 466694177
Total Liabilities and Owner's Equity 13705082756 14002643972
Special reserves 31269652989 31220417923
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 10424014383 11836882741
Including: operating income 10424014383 11836882741
II. Total operating costs 10357987887 11129310130
Including: Operating costs 8977402336 9579246755
Taxes and surcharges 103579922 103202022
sales expense 220446463 218271462
Management costs 511535397 604663531
R&D expenses 399556228 492247639
Financial expenses 145467541 131678721
Including: interest expense 178085917 175763557
Interest income 32882434 43019119
Plus: other income 113933376 163689941
Investment income (“-” for loss) -10518093 -3501978
Credit impairment loss (“-” for loss) 5380563 9214780
Asset impairment loss (“-” for loss) -56738340 -73432355
Asset disposal income (“-” for loss) 2771964 4265283
III. Operating profit (“-” for loss) 120855966 807808282
Plus: non-operating income 19565837 6367897
Less: non-operating expenses 3918194 8353921
IV. Total Profit (“-” for loss) 136503609 805822258
Less: Income tax expenses -2659442 32944644
V. Net profit (“-” for net loss) 139163051 772877614
(I) Classification by operational continuity
1. Net profit from continuing operations (“-” for net loss) 139163051 772877614
9CSG HOLDING CO. LTD. The Third Quarter Report 2025
(II) )Classification by ownership
1. Net profit attributable to the owners of parent company(“-” for net 150395724 786449734
loss)
2. Minority Interest Income (“-” for net loss) -11232673 -13572120
VI. Net amount of other gains after tax -4284090 -586304
Net amount of other gains after tax attributable to owners of parent -4284090 -586304
company
(I)Other comprehensive income that will be reclassified into profit -4284090 -586304
or loss
1. Foreign currency financial statement translation difference -4284090 -586304
VII. Total comprehensive incomes 134878961 772291310
(I)Total comprehensive incomes attributable to the owners of the 146111634 785863430
parent company
(II) Total comprehensive incomes attributable to the minor -11232673 -13572120
shareholders
VIII. Earnings per share:
(I) Basic earnings per share 0.05 0.26
(II) Diluted earnings per share 0.05 0.26
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 10482295306 12544628953
Tax returned 26747990 33479348
Other cash received from business operation 101082321 195290801
Sub-total of cash inflow from business activities 10610125617 12773399102
Cash paid for purchasing of merchandise and services 7639974918 8796586514
Cash paid to employee or paid for staffs 1465205737 1696953881
Taxes paid 370002648 514942141
Other cash paid for business activities 302478806 412088852
Sub-total of cash outflow from business activities 9777662109 11420571388
Net cash flow generated by business operation 832463508 1352827714
II. Cash flow generated by investing
Cash received from investment recovery 3230454000 262800000
Cash received from investment income 4458484 5760233
Net cash retrieved from disposal of fixed assets intangible assets and 7229808 22364672
other long-term assets
Sub-total of cash inflow due to investment activities 3242142292 290924905
Cash paid for construction of fixed assets intangible assets and other 880718251 1852370153
long-term assets
Cash paid for investment 3251043598 169254000
Other cash paid for investment activities 118475883 33644589
Sub-total of cash outflow due to investment activities 4250237732 2055268742
Net cash flow generated by investment -1008095440 -1764343837
III. Cash flow generated by financing
10CSG HOLDING CO. LTD. The Third Quarter Report 2025
Cash received as loans 3979328185 2632768993
Other financing-related cash received 283231862 458231000
Subtotal of cash inflow from financing activities 4262560047 3090999993
Cash to repay debts 3795257602 1602050543
Cash paid as dividend profit or interests 414247410 977850781
Other cash paid for financing activities 392433800 103595003
Subtotal of cash outflow due to financing activities 4601938812 2683496327
Net cash flow generated by financing -339378765 407503666
IV. Influence of exchange rate alternation on cash and cash equivalents 3580953 5518632
V. Net increase of cash and cash equivalents -511429744 1506175
Plus: Balance of cash and cash equivalents at the beginning of term 3367873386 3051261655
VI. Balance of cash and cash equivalents at the end of term 2856443642 3052767830
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 2025
and adjustment of the relevant items in the financial statements at the beginning of the year
for the first implementation
□Applicable √Not applicable
(III) Report of the Auditors
Whether the Third Quarter Report has been audited or not
□ Yes √ No
The Third Quarter Report hasn’t been audited.Board of Directors of
CSG Holding Co. Ltd.
29 October 2025
11
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