The First Quarterly Report of 2024

Stock code: 000017 200017 Notice No.: 2024-024

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

Shenzhen China Bicycle Company (Holdings) Co. Ltd.The First Quarterly Report of 2024

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 Board of Supervisory all directors supervisors and senior executives of Shenzhen China Bicycle Company

(Holdings) Co. Ltd. (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

Principal) hereby confirm that the Financial Report of the First Quarterly Report is authentic accurate and complete.

3.Whether the First Quarterly Report is audited

□Yes □No

I. Main financial data

(1) Main accounting data and financial indexes

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

□Yes □No

Increase or decrease in the

current Period compared with

Current Period Same period of previous year

the same period of previous

year (%)

Operation revenue(RMB) 112547686.50 151527917.92 -25.72%

Net profit attributable to

shareholders of the listed 3215826.19 2848657.72 12.89%

company (RMB)

Net profit attributable to

shareholders of the listed

company after deducting non- 2769381.12 3066157.71 -9.68%

recurring gains and

losses(RMB)

Net cash flow arising from

-29196176.31-7545878.64-286.92%

operating activities(RMB)

Basic EPS(RMB/Share) 0.0047 0.0041 14.63%

Diluted EPS(RMB/Share) 0.0047 0.0041 14.63%

Weighted average ROE 1.04% 0.98% 0.06%

Increase or decrease at end of

End of current Period End f previous year the current Period compared

with the end of previous year

1The First Quarterly Report of 2024

(%)

Total assets(RMB) 356300830.00 369677494.32 -3.62%

Owners’ equity attributable to

shareholders of listed 311977072.35 308761246.16 1.04%

company(RMB)

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

□Applicable □Not applicable

In RMB

Item Current amount Note

Switch-back of provision of impairment

of account receivable which are treated 14512.00

with separate depreciation test

Net amount of non-operating income and

581891.14

expense except the aforesaid items

Less :Influenced amount of income tax 148875.19

Influenced amount of minor

1082.88

shareholders’ equity (after tax)

Total 446445.07 --

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 Disclosurefor Companies Offering 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 InformationDisclosure for Companies Offering Their Securities to the Public --- Extraordinary Profit/loss” defined as

recurring gain/loss

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

reasons

□Applicable □Not applicable

In RMB

Period-end/current Period-begin/previous Y-o-y changes

Item Cause of change

period period (+-)

Payments and prepayments for purchases in the

Monetary fund 24952498.09 54148674.40 -54%

current period

Accounts paid in The increase in prepayment for purchases

15135598.323821181.16296%

advance during the current period

Other current Pending input tax received in the current

2118284.9211216095.44-81%

assets periods

Increase in accounts payable paid in the current

Account payable 3559592.58 6213665.02 -43%

period

The tax payable in the previous period paid in

Taxes payable 2364830.55 11297756.46 -79%

the current period

Subtotal of cash in-

flow arising from 97755220.34 291774127.59 -66% Sales decreased in the current period

operation activity

Subtotal of cash

out-flow arising

126951396.65 299320006.23 -58% Purchases decreased during the current period

from operation

activity

2The First Quarterly Report of 2024

II. Shareholders

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

top ten shareholders

In Shares

Total preferred shareholders with voting rights

Total common shareholders at end of the Period 75669 recovered at end of reporting period (if 0

applicable)Top ten shareholders（Excluding shares lent through refinancing)Pledging or freezing

Amount of

tradable shares

Properties Share

Full name of Shareholders of proporti Quantity with Status of

Quantity

shareholder on % the shares

Conditional

held

Domestic

Wansheng Industrial Holdings non-state- Not

20.00%1378369861378369860

(Shenzhen) Co. Ltd. owned legal applicable

person

Domestic 0

Shenzhen Guosheng Energy non-state- Not

9.22%635087470

Investment Development Co. Ltd. owned legal applicable

person

UOB Kay Hian (Hong Kong) Foreign 0 Not

5.92%408173290

Limited[Note 1] legal person applicable

Guosen Securities (HK) Brokerage Foreign 0 Not

3.04%209836930

Co. Ltd. legal person applicable

Shenwan Hongyuan Securities (Hong Foreign 0 Not

1.20%82811560

Kong) Co. Ltd. legal person applicable

China Merchants Securities (HK) Co. Foreign 0 Not

0.77%52941350

Ltd legal person applicable

Domestic 0

Not

Li Huili nature 0.56% 3891124 0

applicable

person

Domestic 0

Not

Li Cheng nature 0.44% 3000084 0

applicable

person

Domestic 0

Not

Xu Hongbo nature 0.43% 2988619 0

applicable

person

Domestic 0

Not

Yang Yaochu nature 0.39% 2665686 0

applicable

person

Particular about top ten shareholders with un-restrict shares held

Amount of un-restrict shares held at Period- Type of shares

Shareholders’ name

end Type Amount

RMB

Shenzhen Guosheng Energy Investment 6350874

63508747 common

Development Co. Ltd. 7

shares

Domestica

lly listed 4081732

UOB Kay Hian (Hong Kong) Limited [Note 1 40817329

foreign 9

shares

Guosen Securities (HK) Brokerage Co. Ltd. 20983693 Domestica 2098369

3The First Quarterly Report of 2024

lly listed 3

foreign

shares

Domestica

Shenwan Hongyuan Securities (Hong Kong) Co. lly listed

82811568281156

Ltd. foreign

shares

Domestica

lly listed

China Merchants Securities (HK) Co. Ltd 5294135 5294135

foreign

shares

Domestica

lly listed

Li Huili 3891124 3891124

foreign

shares

RMB

Li Cheng 3000084 common 3000084

shares

Domestica

lly listed

Xu Hongbo 2988619 2988619

foreign

shares

Domestica

lly listed

Yang Yaochu 2665686 2665686

foreign

shares

RMB

common 1383313

Shenzhen China Bicycle Company (Holdings) Co. shares

Ltd. -Special account for property disposal of 2602402 Domestica

bankrupt enterprise lly listed

1219089

foreign

shares

Li Huili spouse of Ji Hanfei the actual controller of

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

Guosheng Energy Investment Development Co. Ltd. other

Explanation on associated relationship among the aforesaid

than that the Company does not know whether the other

shareholders

outstanding shareholders are related and whether the

shareholders belong to persons acting in concert regulated in

the Administration of Disclosure of Information on the

Change of Shareholders in Listed Companies.Explanation on top 10 shareholders involving margin business (if

N/A

any) (see note 4)

Note 1: UOB Kay Hian (Hong Kong) Limited is licensed under the Securities and Futures Ordinance of Hong Kong to provide

securities brokerage services to retail and institutional clients. Its main business is Hong Kong stock brokerage and it also

provides securities brokerage and services in various overseas markets. According to the email sent from UOB Kay Hian (Hong

Kong) Limited as of March 31 2024 UOB Kay Hian (Hong Kong) Limited held 40817329 shares of Shenzhen China B shares

for three retail clients and although the shareholding ratio has reached 5.92% the single client does not exceed 5% and the three

retail clients are not acting in concert and do not hold Shenzhen China shares on other platforms.Information of shareholders holding more than 5% of the shares the top 10 shareholders and the top 10

shareholders of unrestricted tradable shares participating in the lending of shares in securities lending and

borrowing business

□Applicable □Not applicable

The top 10 shareholders and the top 10 shareholders of unrestricted tradable shares have changed compared

with the previous period due to the securities lending/returning

□Applicable □Not applicable

4The First Quarterly Report of 2024

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

stock held

□Applicable □Not applicable

III. Important matters

□Applicable □Not applicable

IV. Financial Statement

(1) Financial statement

1. Consolidate Balance Sheet

Prepared by Shenzhen China Bicycle Company (Holdings) Co. Ltd.

2024-03-31

In RMB

Item Ending balance Opening balance

Current assets:

Monetary fund 24952498.09 54148674.40

Settlement provisions

Capital lent

Trading financial assets

Derivative financial assets

Note receivable

Account receivable 226531649.41 196293133.00

Receivable financing

Accounts paid in advance 15135598.32 3821181.16

Insurance receivable

Reinsurance receivables

Contract reserve of reinsurance

receivable

Other account receivable 12968108.54 12868327.03

Receivable financing

Accounts paid in advance

Insurance receivable

Inventory 65540187.45 81916039.14

Including：Data resources

Contractual assets

Assets held for sale

Non-current asset due within one year

Other current assets 2118284.92 11216095.44

Total current assets 347246326.73 360263450.17

Non-current assets:

Loans and payments on behalf

Debt investment

Other debt investment

Long-term account receivable

5The First Quarterly Report of 2024

Long-term equity investment

Investment in other equity instrument

Other non-current financial assets

Investment real estate

Fixed assets 2261313.23 2288610.10

Construction in progress

Productive biological asset

Oil and gas asset

Right-of-use assets 1602591.03 1816269.83

Intangible assets

Including：Data resources

Expense on Research and Development

Including：Data resources

Goodwill

Long-term expenses to be apportioned

Deferred income tax asset 4790599.01 4909164.22

Other non-current assets 400000.00 400000.00

Total non-current assets 9054503.27 9414044.15

Total assets 356300830.00 369677494.32

Current liabilities:

Short-term loans

Loan from central bank

Capital borrowed

Trading financial liability

Derivative financial liability

Note payable

Account payable 3559592.58 6213665.02

Accounts received in advance

Contractual liability 958302.97 633114.64

Selling financial asset of repurchase

Absorbing deposit and interbank deposit

Security trading of agency

Security sales of agency

Wage payable 922710.69 1149151.81

Taxes payable 2364830.55 11297756.46

Other account payable 34264947.84 39034314.13

Including: Interest payable

Dividend payable

Commission charge and commission

payable

Reinsurance payable

Liability held for sale

Non-current liabilities due within one year 860406.31 847403.05

6The First Quarterly Report of 2024

Other current liabilities 1150.44 82304.90

Total current liabilities 42931941.38 59257710.01

Non-current liabilities:

Insurance contract reserve

Long-term loans

Bonds payable

Including: Preferred stock

Perpetual bonds

Lease liability 798633.04 1018630.12

Long-term account payable

Long-term wages payable

Accrual liability

Deferred income

Deferred income tax liabilities

Other non-current liabilities

Total non-current liabilities 798633.04 1018630.12

Total liabilities 43730574.42 60276340.13

Owner’s equity:

Share capital 689184933.00 689184933.00

Other equity instrument

Including: Preferred stock

Perpetual bonds

Capital public reserve 779554450.36 779554450.36

Less: Inventory shares

Other comprehensive income

Reasonable reserve

Surplus public reserve 32673227.01 32673227.01

Provision of general risk

Retained profit -1189435538.02 -1192651364.21

Total owner’ s equity attributable to parent

311977072.35308761246.16

company

Minority interests 593183.23 639908.03

Total owner’ s equity 312570255.58 309401154.19

Total liabilities and owner’ s equity 356300830.00 369677494.32

Legal Representative: Wang Shenghong Person in charge of Accounting Works: Sun Longlong Person in charge of

Accounting Institution: She Hanxing

2. Consolidated Profit Statement

In RMB

Item Current period incurred Prior period incurred

I. Total operation revenue 112547686.50 151527917.92

Including: Operation revenue 112547686.50 151527917.92

Interest income

Insurance gained

Commission charge and commission income

II. Total operation cost 109260842.04 147176272.40

Including: Operation cost 106582652.81 143175923.57

Interest expense

7The First Quarterly Report of 2024

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 surcharge 64008.90 106685.88

Sales expenses 727936.32 1013451.89

Administrative expenses 1789717.65 2378689.86

R&D expenses 106484.06 529106.67

Financial expenses -9957.70 -27585.47

Including: Interest expenses 13483.96

Interest income 30528.71 34411.47

Add: Other income 2092.35

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 (Loss is listed with “-”) 483302.05 331910.63

Impairment loss on assets(Loss is listed with “-”)

Income from assets disposal (Loss is listed with “-”)

III. Operation profit (Loss is listed with “-”) 3770146.51 4685648.50

Add: Non-operating income 641830.65 560000.01

Less: Non-operating expense 59939.51 850000.00

IV. Total profit (Loss is listed with “-”) 4352037.65 4395648.51

Less: Income tax expense 1182936.26 834548.55

V. Net profit (Net loss is listed with “-”) 3169101.39 3561099.96

(i) Classify by business continuity

1.Continuous operating net profit (net loss listed with

3169101.393561099.96‘-”)

2.Termination of net profit (net loss listed with ‘-”)

(ii) Classify by ownership

1.Net profit attributable to shareholders of parent

3215826.192848657.72

company

2.Minority shareholders’ gains and losses -46724.80 712442.24

VI. Net other comprehensive income after taxation

Net other comprehensive income attributable to

owners of parent company after taxation

(i) Other comprehensive income items which will not

be reclassified subsequently to profit of loss

1.Changes of the defined benefit plans that re-

8The First Quarterly Report of 2024

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 other comprehensive income attributable to

minority shareholders after taxation

VII. Total comprehensive income 3169101.39 3561099.96

Total comprehensive income attributable to owners of

3215826.192848657.72

parent Company

Total comprehensive income attributable to minority

-46724.80712442.24

shareholders

VIII. Earnings per share:

(i)Basic EPS 0.0047 0.0041

(ii)Diluted EPS 0.0047 0.0041

As for the enterprise combined under the same control net profit of 0 Yuan achieved by the merged party before combination

while 0 Yuan achieved last period.Legal Representative: Wang Shenghong Person in charge of Accounting Works: Sun Longlong Person in charge of

Accounting Institution: She Hanxing

3. Consolidated Cash Flow Statement

In RMB

Item Current period incurred Prior period incurred

I. Cash flows arising from operating

activities:

Cash received from selling commodities

97006776.77282900383.10

and providing labor 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

9The First Quarterly Report of 2024

Net increase of capital borrowed

Net increase of capital from repurchase

business

Net cash received by agents in sale and

purchase of securities

Write-back of tax received 2217.90

Other cash received concerning operating

748443.578871526.59

activities

Subtotal of cash in-flow arising from

97755220.34291774127.59

operation activity

Cash paid for purchasing commodities and

119791129.51293494756.99

receiving labor service

Net 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 handling charge and

commission

Cash paid for bonus of guarantee slip

Cash paid to/for staff 2057290.81 960468.61

Taxes paid 3409230.56 1600617.38

Other cash paid concerning operating

1693745.773264163.25

activities

Subtotal of cash out-flow arising from

126951396.65299320006.23

operation activity

Net cash flow arising from operating

-29196176.31-7545878.64

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 in-flow arising from

investment activity

Cash paid for purchasing fixed 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 out-flow arising from

investment activity

Net cash flow arising from investment

activities

10The First Quarterly Report of 2024

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

Other cash received concerning financing

activities

Subtotal of cash in-flow arising from

financing activity

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 financing

activities

Subtotal of cash out-flow arising from

financing activity

Net cash flow arising from financing

activities

IV. Influence on cash and cash equivalents

due to fluctuation in exchange rate

V. Net increased amount of cash and cash

-29196176.31-7545878.64

equivalent

Add: Balance of cash and cash equivalents

54148674.4050922869.35

at the period -begin

VI. Balance of cash and cash equivalents at

24952498.0943376990.71

the period -end（ii）The Company started implementing the updated accounting standards commencing from 2024 and

adjusted the relevant items in the financial statements at the beginning of the very year involved in the

initial implementation of the said standards

□Applicable □Not applicable

(iii) Auditors 'Report

Is the First Quarterly Report be audited

□ Yes √No

The First Quarterly report is not audited.Board of Directors of Shenzhen China Bicycle Company (Holdings)Co. Ltd.April 26 2024

11