Stock code: 000017 200017 Notice No.: 2023-015

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

Shenzhen China Bicycle Company (Holdings) Limited

The First Quarterly Report of 2023

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) 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

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) 151527917.92 50246951.40 201.57%

Net profit attributable to

shareholders of the listed 2848657.72 -903991.16 415.12%

company (RMB)

Net profit attributable to

shareholders of the listed

company after deducting non- 3066157.71 -1190923.81 357.46%

recurring gains and

losses(RMB)

Net cash flow arising from

-7545878.64-8930326.5115.50%

operating activities(RMB)

Basic EPS(RMB/Share) 0.0041 -0.0016 356.25%

Diluted EPS(RMB/Share) 0.0041 -0.0016 356.25%

Weighted average ROE 0.98% -10.68% 11.66%

Increase or decrease at end of

the current Period compared

End of current Period End f previous year

with the end of previous year

(%)

Total assets(RMB) 395857898.71 397253487.93 -0.35%%

Owners’ equity attributable to 292977976.23 290129318.51 0.98%

1shareholders of listed

company(RMB)

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

□Applicable □Not applicable

Unit: RMB/CNY

Item Current amount Note

Other non-operating income and

-289999.99

expenses other than the above

Less: impact on income tax -72500.00

Total -217499.99

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

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

reasons

□Applicable □Not applicable

Unit: RMB/CNY

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

Item Cause of change

period period changes (+-)

Recoveries during the Period Recoveries during

Account receivable 138170643.10 250069301.93 -44.75%

the Period

Inventory 158022696.51 48206866.81 227.80% Increase the inventory during the Period

Account payable 13211053.01 2877423.23 359.13% Increase in purchases during the Period

The operation enlarged due to the completion

Operation revenue 151527917.92 50246951.40 of fund raising from non-public offering in Q4

201.57% of 2022

Increase in operation revenue in the current

Operation cost 143175923.57 47249406.26

203.02% period and corresponding increase in the costs

Increase in operation revenue in the current

Administrative

2378689.86 1603942.40 period and corresponding increase in the

expenses

48.30% administrative expenses

Net profit

The profit growth for the operation enlarged

attributable to

2848657.72 -903991.16 415.12% due to the completion of fund raising from non-

shareholders of the public offering in Q4 of 2022

listed company

Cash received

from selling

The cash in-flow increased due to the growth of

commodities and 282900383.10 55844910.44 406.58%

operation revenue in the current Period

providing labor

services

Cash paid for

purchasing

The procurement increased due to the growth of

commodities and 293494756.99 60349320.00 386.33%

operation revenue in the current Period

receiving labor

service

II. Shareholders

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

top ten shareholders

Unit: Share

2Total common shareholders at end Total preferred shareholders with voting rights

467610

of the Period recovered at end of reporting period (if applicable)

Top ten shareholders

Amount of Information of shares pledged

Full name of Nature of Proportion of Amount of

restricted tagged or frozen

Shareholders shareholder shares held(%) shares held

shares held State of share Amount

Wansheng

Industrial Domestic non-

Holdings state-owned 20.00% 137836986.00 137836986.00 - -

(Shenzhen) legal person

Co. Ltd.Shenzhen

Guosheng

Domestic non-

Energy

state-owned 9.22% 63508747.00 0.00 - -

Investment

legal person

Development

Co. Ltd.UOB Kay Hian

Foreign legal

(Hong Kong) 2.31% 15907850.00 0.00 - -

person

Limited

Guosen

Securities (HK) Foreign legal

2.02%13909425.000.00--

Brokerage Co. person

Ltd.Shenwan

Hongyuan

Foreign legal

Securities 1.20% 8281156.00 0.00 - -

person

(Hong Kong)

Co. Ltd.Lhasa Xingqing

Domestic non-

Network

state-owned 0.67% 4600255.00 0.00 - -

Technology

legal person

Co. Ltd.Domestic

Li Huili 0.56% 3891124.00 0.00 - -

nature person

Domestic

Ge Zhiqiong 0.44% 3050452.00 0.00 - -

nature person

Domestic

Xu Hongbo 0.42% 2927319.00 0.00 - -

nature person

China

Merchants Foreign legal

0.42%2894135.000.00--

Securities (HK) person

Co. Ltd

Particular about top ten shareholders with un-restrict shares held

Type of shares

Full name of Shareholders Amount of un-restrict shares held at Period-end

Type Amount

Shenzhen Guosheng Energy RMB common

63508747.0063508747.00

Investment Development Co. Ltd. shares

Domestically

UOB Kay Hian (Hong Kong)

15907850.00 listed foreign 15907850.00

Limited

shares

Domestically

Guosen Securities (HK) Brokerage

13909425.00 listed foreign 13909425.00

Co. Ltd.shares

Domestically

Shenwan Hongyuan Securities

8281156.00 listed foreign 8281156.00

(Hong Kong) Co. Ltd.shares

3Lhasa Xingqing Network RMB common

4600255.004600255.00

Technology Co. Ltd. shares

Domestically

Li Huili 3891124.00 listed foreign 3891124.00

shares

Domestically

Ge Zhiqiong 3050452.00 listed foreign 3050452.00

shares

Domestically

Xu Hongbo 2927319.00 listed foreign 2927319.00

shares

Domestically

China Merchants Securities (HK)

2894135.00 listed foreign 2894135.00

Co. Ltd

shares

RMB common

Liu Ligang 2813582.00 2813582.00

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

Explanation on associated relationship among the Development Co. Ltd. other than that the Company does not know

aforesaid shareholders whether the other 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

N/A

business (if applicable)

(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

1. Litigation matters

Early 2023 as the plaintiff the company and its controlling subsidiary Shenzhen Emmelle Industrial Co. Ltd. (hereinafter

collectively referred to as the Company) filed a lawsuit against Guangshui Jiaxu Energy Technology Co. Ltd respectively for a total

amount of 24.9672 million yuan with the “sales and purchase contract dispute” involved. As of the announcement date the above

cases have been heard by the court and ruled in favor of the Company and some of the judgments are already in effect. Pursuit to the

assessment of the risk of recoverable for the above account receivable based on principle of prudence the Company has accrual 80%

credit impairment in previous years. Found more in the Announcement on Lawsuits and Progress of the Lawsuits released on Juchao

Website dated 10 Feb. 2023 and 21 Apr.respectively.IV. Financial Statement

(1) Financial statement

1. Consolidate Balance Sheet

Prepared by Shenzhen China Bicycle Company (Holdings) Limited

2023-03-31

Unit: RMB/CNY

Item Ending balance Opening balance

Current assets:

Monetary fund 48038369.72 54699491.18

4Settlement provisions

Capital lent

Trading financial assets

Derivative financial assets

Note receivable 702000.00 1102000.00

Account receivable 138170643.10 250069301.93

Receivable financing

Accounts paid in advance 10813758.12 4286935.15

Insurance receivable

Reinsurance receivables

Contract reserve of reinsurance

receivable

Other account receivable 2364035.29 438477.82

Receivable financing

Accounts paid in advance

Insurance receivable

Inventory 158022696.51 48206866.81

Contractual assets

Assets held for sale

Non-current asset due within one year

Other current assets 34924612.56 35453106.62

Total current assets 393036115.30 394256179.51

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

Fix assets 2259329.90 2304402.38

Construction in progress

Productive biological asset

Oil and gas asset

Right-of-use assets 43484.18 173936.71

Intangible assets

Expense on Research and

Development

Goodwill

Long-term expenses to be apportioned

Deferred income tax asset 118969.33 118969.33

Other non-current assets 400000.00 400000.00

Total non-current assets 2821783.41 2997308.42

5Total assets 395857898.71 397253487.93

Current liabilities:

Short-term loans

Loan from central bank

Capital borrowed

Trading financial liability

Derivative financial liability

Note payable

Account payable 13211053.01 2877423.23

Accounts received in advance

Contractual liability 745965.38 791762.84

Selling financial asset of repurchase

Absorbing deposit and interbank

deposit

Security trading of agency

Security sales of agency

Wage payable 879077.91 769992.42

Taxes payable 23360784.63 38144508.36

Other account payable 48277642.13 48621087.98

Including: Interest payable

Dividend payable

Commission charge and commission

payable

Reinsurance payable

Liability held for sale

Non-current liabilities due within one

80439.85210892.38

year

Other current liabilities 6944.28 102929.16

Total current liabilities 86561907.19 91518596.37

Non-current liabilities:

Insurance contract reserve

Long-term loans

Bonds payable

Including: Preferred stock

Perpetual bonds

Lease liability

Long-term account payable

Long-term wages payable

Accrual liability 887342.00 887342.00

Deferred income

Deferred income tax liabilities

Other non-current liabilities

Total non-current liabilities 887342.00 887342.00

6Total liabilities 87449249.19 92405938.37

Owner’s equity:

Share capital 689184933.00 689184933.00

Other equity instrument

Including: Preferred stock

Perpetual bonds

Capital public reserve 778824470.95 778824470.95

Less: Inventory shares

Other comprehensive income

Reasonable reserve

Surplus public reserve 32673227.01 32673227.01

Provision of general risk

Retained profit -1207704654.73 -1210553312.45

Total owner’ s equity attributable to

292977976.23290129318.51

parent company

Minority interests 15430673.29 14718231.05

Total owner’ s equity 308408649.52 304847549.56

Total liabilities and owner’ s equity 395857898.71 397253487.93

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

Accounting Institution: She Hanxing

2. Consolidated Profit Statement

Unit: RMB/CNY

Item Current period incurred Prior period incurred

I. Total operation revenue 151527917.92 50246951.40

Including: Operation revenue 151527917.92 50246951.40

Interest income

Insurance gained

Commission charge and

commission income

II. Total operation cost 147176272.40 51348242.22

Including: Operation cost 143175923.57 47249406.26

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 surcharge 106685.88 35537.87

Sales expenses 1013451.89 1251815.38

Administrative expenses 2378689.86 1603942.40

R&D expenses 529106.67 1215439.84

Financial expenses -27585.47 -7899.53

Including: Interest expenses

Interest income 34411.47 20245.44

7Add: Other income 2092.35 103369.17

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

331910.6360000.00

is listed with “-”)

Impairment loss on assets(Loss is

listed with “-”)

Income from assets disposal

(Loss is listed with “-”)

III. Operation profit (Loss is listed with

4685648.50-937921.65

“-”)

Add: Non-operating income 560000.01 221131.50

Less: Non-operating expense 850000.00

IV. Total profit (Loss is listed with “-”) 4395648.51 -716790.15

Less: Income tax expense 834548.55 8270.01

V. Net profit (Net loss is listed with “-”) 3561099.96 -725060.16

(i) Classify by business continuity

1.Continuous operating net profit

3561099.96-725060.16(net loss listed with ‘-”)

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

(ii) Classify by ownership

1.Net profit attributable to

2848657.72-903991.16

shareholders of parent company

2.Minority shareholders’ gains and

712442.24178931.00

losses

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-measured

2.Other comprehensive income

under equity method that cannot be

transfer to gain/loss

3.Change of fair value of

8investment 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 3561099.96 -725060.16

Total comprehensive income

attributable to owners of parent 2848657.72 -903991.16

Company

Total comprehensive income

712442.24178931.00

attributable to minority shareholders

VIII. Earnings per share:

(i)Basic EPS 0.0041 -0.0016

(ii)Diluted EPS 0.0041 -0.0016

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

Unit: RMB/CNY

Item Current period incurred Prior period incurred

I. Cash flows arising from operating

activities:

Cash received from selling

commodities and providing labor 282900383.10 55844910.44

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

9Net increase of insured savings and

investment

Cash received from interest

commission charge and commission

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 3529.86

Other cash received concerning

8871526.597532827.46

operating activities

Subtotal of cash in-flow arising from

291774127.5963381267.76

operation activity

Cash paid for purchasing commodities

293494756.9960349320.00

and 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 960468.61 2086036.96

Taxes paid 1600617.38 431259.14

Other cash paid concerning operating

3264163.259444978.17

activities

Subtotal of cash out-flow arising from

299320006.2372311594.27

operation activity

Net cash flow arising from operating

-7545878.64-8930326.51

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

10and 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

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

142878.90

activities

Subtotal of cash out-flow arising from

142878.90

financing activity

Net cash flow arising from financing

-142878.90

activities

IV. Influence on cash and cash

equivalents due to fluctuation in

exchange rate

V. Net increased amount of cash and cash

-7545878.64-9073205.41

equivalent

Add: Balance of cash and cash

50922869.3533246957.92

equivalents at the period -begin

VI. Balance of cash and cash equivalents

43376990.7124173752.51

at the period -end

(2) 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 27 2023

11