Stock code: 000017 200017 Notice No.: 2022-005

short form of the stock: Zhonghua-A Zhonghua-B

Shenzhen China Bicycle Company (Holdings) Limited

The First Quarterly Report of 2022

The Company and whole members of the BOD guarantee that the information disclosed is true accurate

and complete and there are no any fictitious records misleading statements or important omissions.Important content reminder:

1. Board of Directors Supervisory Committee all directors supervisors and senior executives of

Shenzhen China Bicycle Company (Holdings) Limited (hereinafter referred to as the Company)

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

reality accuracy and completion of the whole contents.

2. Principal of the Company Person in Charge of Accounting Works and Person in Charge of

Accounting Organ (Accounting Officer) hereby confirm that the Financial Report of the First

Quarterly Report is authentic accurate and complete.

3. Whether the First Quarterly Report has been audited or not

□Yes √No

I. Main financial data

(i) Main accounting data and financial indexes

Whether it has retroactive adjustment or re-statement on previous accounting data or not

□Yes √No

Changes of this period over

Current Period Same period of last year

same period of last year

Operating income (RMB) 50246951.40 23163329.56 116.92%

Net profit attributable to shareholders of

-903991.16-211535.36-327.35%

the listed company (RMB)

Net profit attributable to shareholders of

the listed company after deducting -1190923.81 -211535.36 -462.99%

non-recurring gains and losses (RMB)

Net cash flow arising from operating

-8930326.511399162.83-738.26%

activities (RMB)

Basic earnings per share (RMB/Share) -0.0016 -0.0004 -300.00%

Diluted earnings per share (RMB/Share) -0.0016 -0.0004 -300.00%

Weighted average ROE -10.68% -1.96% -8.72%

Changes of this period-end

End of this period End of last period over same period-end of last

year

Total assets (RMB) 101914520.44 97363437.22 4.67%

1Owners’ equity attributable to shareholders

8014547.008918538.16-10.14%

of listed company (RMB)

(ii) Items and amounts of non-recurring profit (gains)/losses

√ Applicable □ Not applicable

Unit: RMB/CNY

Item Current amount Note

Governmental subsidy calculated into current gains and

losses(while closely related with the normal business of the

Company the government subsidy that accord with the provision 103369.17

of national policies and are continuously enjoyed in line with a

certain standard quota or quantity are excluded)

Reversal of the account receivable depreciation reserves subject

60000.00

to separate impairment test

Other non-operating income and expenses other than the above 221131.50

Less: impact on income tax 3316.97

Impact on minority shareholders’ equity (post-tax) 94251.05

Total 286932.65 --

Other gain/loss items that qualified the definition of non-recurring profit (gains)/losses:

□ Applicable √ Not applicable

The Company does not have other gain/loss items that qualified the definition of non-recurring profit (gains)/lossesExplanation on those non-recurring gain/loss listed in the “Q&A Announcement No.1 on Information Disclosure for CompaniesOffering Their Securities to the Public --- Extraordinary Profit/loss” defined as recurring gain/loss

□ Applicable √ Not applicableThe Company does not have the non-recurring gain/loss listed in the “Q&A Announcement No.1 on Information Disclosure forCompanies Offering Their Securities to the Public --- Extraordinary Profit/loss” defined as recurring gain/loss

(iii) Particulars about changes in items of main accounting data and financial index and explanations of

reasons

√ Applicable □Not applicable

Period-end/current Period-begin/last

Item Y-o-y changes (+-) Cause of change

period period

24173752.51 33246957.92 -27.29% Purchase of jewelry and gold by

Monetary fund

subsidiary

2670412.70 1300408.57 105.35% The account paid in advance for

Account paid in advance

lithium battery materials increased

19655197.38 8248573.77 138.29% The inventory of jewelry and gold

Inventory

increased from the subsidiary

3222011.94 1814200.53 77.60% The item of input to be deducted by

Other current assets

subsidiary increased

14462510.97 8297306.34 74.30% Payments to suppliers during the

Account payable

period

50246951.40 23163329.56 116.92% Income from jewelry and gold

Operation revenue

business increased

247249406.26 20752454.71 127.68% Costs of the jewelry and gold

Operation cost

business increased

1251815.38 425618.74 194.12% Expenses increased due to the growth

Sales expenses

of income

R&D expenses 1215439.84 856296.32 41.94% Expenses on R&D increased

Net cash flow arising from -8930326.51 1399162.83 -738.26% Purchase of jewelry and gold by

operation activities subsidiary

II. Shareholders

(i) Total number of common shareholders and preference shareholders with voting rights recovered and

top ten shareholders

Unit: Share

Total preference shareholders

Total number of common

with voting rights recovered at

shareholders at the end of report 40730 0

end of reporting period (if

period

applicable)

Top ten shareholders

Amount of Information of shares pledged

Shareholder’s Nature of Proportion of Amount of shares

lock-up shares tagged or frozen

name shareholder shares held held

held State of share Amount

Shenzhen

Guosheng Energy Domestic

Investment non-state-owned 11.52% 63508747 0 - -

Development legal person

Co. Ltd.UOB Koy Hian

Foreign legal

(Hong Kong) 2.89% 15907850 0 - -

person

Co. Ltd.Guosen Securities

(Hong Kong) Foreign legal

2.52%139094250--

brokerage Co. person

Ltd.Shenwan

Hongyuan Foreign legal

1.50%82811560--

Securities (Hong person

Kong) Co. Ltd.Lhasa Xingqing

Domestic

Network

non-state-owned 0.83% 4600255 0 - -

Technology Co.legal person

Ltd.

3Domestic nature

Li Huili 0.71% 3891124 0 - -

person

Domestic nature

Ge Zhiqiong 0.56% 3112052 0 - -

person

Domestic nature

Xu Hongbo 0.53% 2927319 0 - -

person

China Merchants

State-owned legal

Securities Hong 0.52% 2894135 0 - -

person

Kong Co. Ltd.Shenzhen China

Bicycle Company

(Holdings)

Domestic

Limited -Special

non-state-owned 0.47% 2602402 0 - -

account for

legal person

property disposal

of bankrupt

enterprise

Top ten shareholders with unrestricted shares held

Type of shares

Shareholder’s name Amount of unrestricted shares held

Type Amount

Shenzhen Guosheng Energy RMB common

6350874763508747

Investment Development Co. Ltd. shares

Domestically

UOB Koy Hian (Hong Kong) Co.

15907850 listed foreign 15907850

Ltd.shares

Domestically

Guosen Securities (Hong Kong)

13909425 listed foreign 13909425

brokerage Co. Ltd.shares

Domestically

Shenwan Hongyuan Securities

8281156 listed foreign 8281156

(Hong Kong) Co. Ltd.shares

Lhasa Xingqing Network RMB common

46002554600255

Technology Co. Ltd. shares

Domestically

Li Huili 3891124 listed foreign 3891124

shares

RMB common

198400

shares

Ge Zhiqiong 3112052

Domestically

2913652

listed foreign

4shares

Domestically

Xu Hongbo 2927319 listed foreign 2927319

shares

Domestically

China Merchants Securities Hong

2894135 listed foreign 2894135

Kong Co. Ltd.shares

RMB common

Shenzhen China Bicycle Company 1383313

shares

(Holdings) Limited -Special account

2602402 Domestically

for property disposal of bankrupt

listed foreign 1219089

enterprise

shares

Li Huili spouse of the Ji Hanfei the actual controller of he Company- Shenzhen Guosheng

Energy Investment Development Co. Ltd. holding B-share of the Company on behalf of

Explanation on associated

Shenzhen Guosheng Energy Investment Development Co. Ltd. beyond that the Company

relationship among the aforesaid

has no idea of whether other circulated shareholders belong to concerted action persons ruled

shareholders

in the Administration Norms for Information Disclosure of Change on Shareholding of

Shareholders of Listed Companies.Explanation on top 10 shareholders

involving margin business (if N/A

applicable)

(ii) Total shareholders with preferred stock held and shares held by top ten shareholders with preferred

stock held

□ Applicable √ Not applicable

III. Other important matters

√Applicable □Not applicable

1. Planning for non-public offering of shares

On December 30 2020 the company held the third extraordinary general meeting of shareholders in 2020 reviewed and approved

the new plan for non-public issuance of A shares and planned to raise funds from Wansheng Industry Company through non-public

issuance of shares of total amount not exceeding 293.6 million yuan which would be used to replenish working capital after

deducting the issuance expenses and this issuance will lead to changes in the company’s control. On October 25 2021 the

company’s application for the non-public issuance of A shares was reviewed and approved by the Issuance Examination Commission

of the China Securities Regulatory Commission (hereinafter referred to as the CSRC). On November 11 2021 the company received

the Approval for the Non-public Issuance of Shares by Shenzhen China Bicycle (Group) Co. Ltd. (ZJXK [2021] No. 3552) issued by

the CSRC and the validity period of the approval is 12 months from the date of approval for the issuance. Relevant work is currently

in progress.

2. About the company litigation matters

On February 23 2022 the company received the Subpoena (2022) Yue 0303 Min Chu No. 3787 Complaint Notice of Response

Civil Ruling Paper (2020) Yue 0303 Zhi Bao No. 498 and other legal documents from Shenzhen Luohu District People’s Court

which has accepted the lawsuit brought by the plaintiff Shenzhen Jianzhi Industrial Development Co. Ltd. against the company on

5the grounds of “joint venture and cooperative development of real estate contract disputes” the amount involved was 30.859 million

yuan. On March 12 2022 the company received a notice from the Shenzhen Luohu District People’s Court that the court trial

originally scheduled for March 18 2022 has been rescheduled due to the pandemic and the specific trial time will be notified later.As of the date of this announcement the company has not received the notice from the Luohu Court and the matter has not yet been

heard. The company will actively respond to the lawsuit safeguard the interests of the company and all shareholders through legal

means. According to the Analysis of Jianzhi Company sued CBC issued by Guangdong Asia Laws Firm on March 28 2022 the

evidence submitted by Jianzhi Company could not support its litigation request and the CBC had completed the conditions of the

return revenue as agreed in the Cooperation Contract termination of the Contract was in accordance with the legal provision. The

CBC believes that they has completed part of the works agreed in Cooperation Contract and should get 6 million yuan as agreed in

the Contract. Currently the Company has filed a counter-suit against Shenzhen Jianzhi Industrial Development Co. Ltd for payment

of 6 million yuan in return proceeds from the project. The Company will perform the corresponding information disclosure

obligations in a timely manner according to the progress of the lawsuit. Investors are advised to pay attention to investment risks.IV. Quarterly financial statements

(i) Financial statement

1. Consolidate Balance Sheet

Prepared by Shenzhen China Bicycle Company (Holdings) Limited

March 31 2022

Unit: RMB/CNY

Item Ending balance Opening balance

Current assets:

Monetary fund 24173752.51 33246957.92

Settlement provisions

Capital lent

Trading financial assets

Derivative financial assets

Note receivable

Account receivable 46242685.55 46850083.59

Receivable financing

Account paid in advance 2670412.70 1300408.57

Insurance receivable

Reinsurance receivables

Contract reserve of reinsurance

receivable

Other account receivable 740422.93 494695.27

Including: Interest receivable

Dividend receivable

Buying back the sale of financial

assets

Inventory 19655197.38 8248573.77

Contract assets

Assets held for sale

Non-current asset due within one

year

Other current assets 3222011.94 1814200.53

6Total current assets 96704483.01 91954919.65

Non-current assets:

Loans and payments on behalf

Debt investment

Other debt investment

Long-term account receivable

Long-term equity investment

Investment in other equity

instrument

Other non-current financial assets

Investment real estate

Fixed assets 3358563.88 3439212.00

Construction in progress

Productive biological asset

Oil and gas asset

Right-of-use assets 1387426.88 1505258.90

Intangible assets

Expense on research and

development

Goodwill

Long-term expenses to be

apportioned

Deferred income tax asset 64046.67 64046.67

Other non-current assets 400000.00 400000.00

Total non-current asset 5210037.43 5408517.57

Total assets 101914520.44 97363437.22

Current liabilities:

Short-term loans

Loan from central bank

Capital borrowed

Trading financial liability

Derivative financial liability

Note payable

Account payable 14462510.97 8297306.34

Accounts received in advance

Contract liabilities 589518.63 124328.07

Selling financial asset of

repurchase

Absorbing deposit and interbank

deposit

Security trading of agency

Security sales of agency

Wage payable 910492.99 923477.10

Taxes payable 734270.18 911506.52

Other account payable 60358930.43 61407301.04

Including: Interest payable

Dividend payable

Commission charge and

7commission payable

Reinsurance payable

Liability held for sale

Non-current liabilities due within

1483130.071456782.04

one year

Other current liabilities 11700.06 11700.06

Total current liabilities 78550553.33 73132401.17

Non-current liabilities:

Insurance contract reserve

Long-term loans

Bonds payable

Including: Preferred stock

Perpetual capital

securities

Lease liability 86293.59 228302.37

Long-term account payable

Long-term wages payable

Accrual liability

Deferred income

Deferred income tax liabilities

Other non-current liabilities

Total non-current liabilities 86293.59 228302.37

Total liabilities 78636846.92 73360703.54

Owner’s equity:

Share capital 551347947.00 551347947.00

Other equity instrument

Including: Preferred stock

Perpetual capital

securities

Capital public reserve 627834297.85 627834297.85

Less: Treasury shares

Other comprehensive income

Reasonable reserve

Surplus public reserve 32673227.01 32673227.01

Provision of general risk

Retained profit -1203840924.86 -1202936933.70

Total owner’ s equity attributable to

8014547.008918538.16

parent company

Minority interests 15263126.52 15084195.52

Total owner’ s equity 23277673.52 24002733.68

Total liabilities and owner’ s equity 101914520.44 97363437.22

Legal Representative: Li Hai

Person in charge of Accounting Works: Sun Longlong

Person in charge of Accounting Institution: Zhong Xiaojin

82. Consolidated Profit Statement

Unit: RMB/CNY

Item Current period Last period

I. Total operating income 50246951.40 23163329.56

Including: Operating income 50246951.40 23163329.56

Interest income

Insurance gained

Commission charge and

commission income

II. Total operating cost 51348242.22 23368934.41

Including: Operating cost 47249406.26 20752454.71

Interest expense

Commission charge and

commission expense

Cash surrender value

Net amount of expense of

compensation

Net amount of withdrawal of

insurance contract reserve

Bonus expense of guarantee

slip

Reinsurance expense

Tax and extras 35537.87 30648.14

Sales expense 1251815.38 425618.74

Administrative expense 1603942.40 1328263.03

R&D expense 1215439.84 856296.32

Financial expenses -7899.53 -24346.53

Including: Interest

expenses

Interest income 20245.44 35896.85

Add: other income 103369.17 2516.00

Investment income (Loss is

listed with “-”)

Including: Investment income

on affiliated company and joint venture

The termination of income

recognition for financial assets measured

by amortized cost

Exchange income (Loss is

listed with “-”)

Net exposure hedging income

(Loss is listed with “-”)

Income from change of fair

value (Loss is listed with “-”)

Loss of credit impairment

60000.00468.00

(Loss is listed with “-”)

Losses of devaluation of asset

(Loss is listed with “-”)

Income from assets disposal

(Loss is listed with “-”)

III. Operating profit (Loss is listed with -937921.65 -202620.85

9“-”)

Add: Non-operating income 221131.50

Less: Non-operating expense

IV. Total profit (Loss is listed with “-”) -716790.15 -202620.85

Less: Income tax expense 8270.01 8863.55

V. Net profit (Net loss is listed with “-”) -725060.16 -211484.40

(i) Classify by business continuity

1. Net profit from continuing

-725060.16-211484.40

operations (net loss listed with “-”)

2. Net profit from termination of

operations (net loss listed with “-”)

(ii) Classify by ownership

1.Net profit attributable to owner’s

-903991.16-211535.36

of parent company

2.Minority shareholders’ gains and

178931.0050.96

losses

VI. Net after-tax of other comprehensive

income

Net after-tax of other comprehensive

income attributable to owners of parent

company

(i) Other comprehensive income

items which will not be reclassified

subsequently to profit of loss

1.Changes of the defined

benefit plans that re-measured

2.Other comprehensive

income under equity method that cannot

be transfer to gain/loss

3.Change of fair value of

investment in other equity instrument

4.Fair value change of

enterprise's credit risk

5. Other

(ii) Other comprehensive income

items which will be reclassified

subsequently to profit or loss

1.Other comprehensive

income under equity method that can

transfer to gain/loss

2.Change of fair value of

other debt investment

3.Amount of financial assets

re-classify to other comprehensive

income

4.Credit impairment

provision for other debt investment

5.Cash flow hedging reserve

6.Translation differences

arising on translation of foreign currency

financial statements

7.Other

Net after-tax of other comprehensive

income attributable to minority

10shareholders

VII. Total comprehensive income -725060.16 -211484.40

Total comprehensive income

-903991.16-211535.36

attributable to owners of parent Company

Total comprehensive income

178931.0050.96

attributable to minority shareholders

VIII. Earnings per share:

(i) Basic earnings per share -0.0016 -0.0004

(ii) Diluted earnings per share -0.0016 -0.0004

Enterprise combine under the same control in the Period the combined party realized net profit of 0.00 Yuan before combination and

realized 0.00 Yuan at last period for combined party

Legal Representative: Li Hai

Person in charge of Accounting Works: Sun Longlong

Person in charge of Accounting Institution: Zhong Xiaojin

3. Consolidated Cash Flow Statement

Unit: RMB/CNY

Item Current period Last period

I. Cash flows arising from operating

activities:

Cash received from selling

commodities and providing labor 55844910.44 31191247.05

services

Net increase of customer deposit

and interbank deposit

Net increase of loan from central

bank

Net increase of capital borrowed

from other financial institution

Cash received from original

insurance contract fee

Net cash received from reinsurance

business

Net increase of insured savings

and investment

Cash received from interest

commission charge and commission

Net increase of capital borrowed

Net increase of returned business

capital

Net cash received by agents in sale

and purchase of securities

Write-back of tax received 3529.86 2652.02

Other cash received concerning

7532827.467188346.22

operating activities

Subtotal of cash inflow arising from

63381267.7638382245.29

operating activities

Cash paid for purchasing

commodities and receiving labor 60349320.00 28648220.66

service

11Net increase of customer loans and

advances

Net increase of deposits in central

bank and interbank

Cash paid for original insurance

contract compensation

Net increase of capital lent

Cash paid for interest commission

charge and commission

Cash paid for bonus of guarantee

slip

Cash paid to/for staff and workers 2086036.96 2644266.76

Taxes paid 431259.14 335366.77

Other cash paid concerning

9444978.175355228.27

operating activities

Subtotal of cash outflow arising from

72311594.2736983082.46

operating activities

Net cash flows arising from operating

-8930326.511399162.83

activities

II. Cash flows arising from investing

activities:

Cash received from recovering

investment

Cash received from investment

income

Net cash received from disposal of

fixed intangible and other long-term

assets

Net cash received from disposal of

subsidiaries and other units

Other cash received concerning

investing activities

Subtotal of cash inflow from investing

activities

Cash paid for purchasing fixed

5957.99

intangible and other long-term assets

Cash paid for investment

Net increase of mortgaged loans

Net cash received from

subsidiaries and other units obtained

Other cash paid concerning

investing activities

Subtotal of cash outflow from investing

5957.99

activities

Net cash flows arising from investing

-5957.99

activities

III. Cash flows arising from financing

activities

Cash received from absorbing

investment

Including: Cash received from

absorbing minority shareholders’

investment by subsidiaries

Cash received from loans

12Other cash received concerning

financing activities

Subtotal of cash inflow from financing

activities

Cash paid for settling debts

Cash paid for dividend and profit

distributing or interest paying

Including: Dividend and profit of

minority shareholder paid by

subsidiaries

Other cash paid concerning

142878.90

financing activities

Subtotal of cash outflow from financing

142878.90

activities

Net cash flows arising from financing

-142878.90

activities

IV. Influence on cash and cash

equivalents due to fluctuation in

exchange rate

V. Net increase of cash and cash

-9073205.411393204.84

equivalents

Add: Balance of cash and cash

33246957.9219887978.05

equivalents at the period-begin

VI. Balance of cash and cash

24173752.5121281182.89

equivalents at the period-end

(ii) Audit report

Whether the 1st quarterly report has been audited or not

□Yes √ No

The 1st quarterly report of the Company has not been audited.Board of Directors of

Shenzhen China Bicycle Company (Holdings) Limited

April 28 2022

13