方大B：2019年第三季度报告全文（英文版）

China Fangda Group Co. Ltd.

2019 Third Quarter Report (Full)

October 2019

I Important Statement

The members of the Board and the Company guarantee that the quarterly

report is free from any false information misleading statement or material

omission and are jointly and severally liable for the information’s truthfulness

accuracy and integrity.

All the Directors have attended the meeting of the board meeting at which

this report was examined.Mr. Xiong Jianming the Chairman of Board Mr. Lin Kebin the Chief

Financial Officer and Mr. Wu Bohua the manager of accounting department

declare: the Financial Report carried in this report is authentic and completed.

II. General Information

1. Financial Highlight

Whether the Company needs to make retroactive adjustment or restatement of financial data of previous years

□ Yes √ No

End of the report period End of last year Year-on-year change

Total asset (RMB) 10888421106.10 10658854133.73 2.15%

Net profit attributable to the

shareholders of the listed company

(RMB)

5051483434.60 5195187621.88 -2.77%

This report period

Year-on-year change

(%)

Between beginning of

the year to the end of

the report period

Change from the same

period last year

Turnover (yuan) 699243342.82 -11.85% 2125134289.81 -4.93%

Net profit attributable to

shareholders of the listed company

(yuan)

27468258.38 -69.93% 156050013.39 -51.46%

Net profit attributable to the

shareholders of the listed company

and after deducting of

non-recurring gain/loss (RMB)

15661279.22 -81.76% 129038343.28 -56.34%

Net cash flow generated by

business operation (RMB)

-- -- -408455390.94 -462.71%

Basic earnings per share

(yuan/share)

0.02 -75.00% 0.14 -50.00%

Diluted Earnings per share

(yuan/share)

0.02 -75.00% 0.14 -50.00%

Weighted average net income/asset

ratio

0.55% -2.22% 3.11% -6.66%

Notes:

1. The above-mentioned decrease in “net profit attributable to shareholders of the listed company” was mainly due to the fact

that the Shenzhen Fangda Town project which had a higher gross profit during the reporting period and contributed more to the

profit in the previous year was nearing the end of the planned sales area resulting in a decrease in operating income and profit. In

addition the operating income net profit and gross profit margin of the curtain wall systems and materials industries and rail

transit screen door equipment businesses have increased as follows:

1. The real estate industry realized operating income of RMB 236817200 in the first three quarters of 2019

a decrease of 62.79% over the same period of the previous year; net profit of RMB 59435400 was reduced by

RMB169668700 compared with the same period of the previous year with a decrease of 74.06%；

2. In the first three quarters of 2019 the curtain wall system and materials industry realized operating

income of RMB1537801300 an increase of 13.66% over the same period of the previous year; the net profit

was RMB57849500 an increase of 4.48%; with a gross margin of 14.49% up0.89 percentages over the same period

of last year;

3. In the first three quarters of 2019 the rail transit equipment industry realized operating income of

RMB319264800 an increase of 51.99% over the same period of the previous year; the net profit was RMB52927400

an increase of 61.45%; with a gross margin of 28.03% up 0.89 percentages over the same period of the previous

year.

2. The decrease in the above-mentioned “net cash flow from operating activities” was mainly due to the decrease in the revenue

of the Shenzhen Fangda town project due to the decrease in operating income during the reporting period the annual corporate

income tax settlement and payment of taxes and the development investment of new projects. In addition the cash flow of the

curtain wall system and materials industry declined from the same period last year.The cash flow of the rail transit equipment industry increased from the same period last year. The changes

in the cash flow of the curtain wall system and material business and rail transit equipment business are within the reasonable

range of fluctuations.The details are disclosed as follows:

1. The net cash flow generated by the real estate industry in the first three quarters of 2019 was RMB-220978800 compared with

RMB239685600 in the same period of the previous year a decrease of RMB460664300 over the same period of the previous year;

2. The net cash flow generated by the operating activities of the curtain wall system and materials industry in the first three

quarters of 2019 was RMB -188369400 compared with RMB-86261000 in the same period of last year a decrease of

RMB102108500 from the same period of the previous year;

3. The net cash flow generated by the operating activities of the rail transit screen door equipment industry in the first three

quarters of 2019 was RMB-5498400 compared with RMB-36846700 in the same period of last year which was improved

compared with the same period of the previous year.

Accidental gain/loss item and amount

√ Applicable □ Inapplicable

In RMB

Item

Amount from beginning of

the year to the end of the

report period

Notes

Non-current asset disposal gain/loss (including the write-off part

for which assets impairment provision is made)

-35159.35

Subsidies accounted into the current income account (except the

government subsidy closely related to the enterprise’s business

and based on unified national standard quota)

4712514.15

Capital using expense charged to non-financial enterprises and

accounted into the current income account

585760.51

Gain from entrusted investment or assets management 5533960.61

Gain/loss from change of fair value of transactional financial

asset and liabilities and investment gains from disposal of

1494278.09

transactional and derivative financial assets and liabilities and

sellable financial assets other than valid period value instruments

related to the Company’s common businesses

Gain/loss from commissioned loans 301965.98

Other non-business income and expenditures other than the above 4603867.26

Less: Influenced amount of income tax -9786470.36

Influenced amount of minority shareholders’ equity

(after-tax)

-28012.50

Total 27011670.11 --

Explanation statement should be made for accidental gain/loss items defined and accidental gain/loss items defined as regular

gain/loss items according to the Explanation Announcement of Information Disclosure No. 1 - Non-recurring gain/loss mentioned.

□ Applicable √ Inapplicable

No circumstance that should be defined as recurrent profit and loss according to Explanation Announcement of Information

Disclosure No. 1 - Non-recurring gain/loss occurs in the report period.

2. Total number of shareholders and shareholding of top 10 shareholders by the end of the

report period

1. Ordinary shareholders preference shareholders with resumed voting rights and top 10 shareholders

In share

Number of shareholders of common

shares at the end of the report period

70369

Number of shareholders of

preferred stocks of which

voting rights recovered in the

report period (if any)

Top 10 Shareholders

Shareholder name

Nature of

shareholder

Shareholding

percentage

Shareholding

number

Conditional

Pledging or freezing

Share status Quantity

Shenzhen

Banglin

Technologies

Development

Co. Ltd.

Domestic

non-state legal

person

10.08% 113202154 Pledged 32860000

Shengjiu

Investment Ltd.

Foreign legal

person

8.52% 95688766

Fang Wei

Domestic natural

person

3.03% 34071739

Gong Qing

Cheng Shi Li He

Domestic

non-state legal

2.38% 26791488

Investment

Management

Partnership

Enterprise

(limited partner)

person

Shenwan

Hongyuan

Securities (Hong

Kong) Co. Ltd.

Foreign legal

person

1.22% 13705232

VANGUARD

EMERGING

MARKETS

STOCK INDEX

FUND

Foreign legal

person

0.71% 7946483

VANGUARD

TOTAL

INTERNATION

AL STOCK

INDEX FUND

Foreign legal

person

0.52% 5872007

Qu Chunlin

Domestic natural

person

0.38% 4236961

First Shanghai

Securities

Limited

Foreign legal

person

0.36% 4001704

Essence

International

Securities (Hong

Kong) Co. Ltd.

Foreign legal

person

0.33% 3757707

Top 10 holders of unconditional shares

Shareholder name Amount of shares without sales restriction

Category of shares

Category of

Quantity

Shenzhen Banglin Technologies

Development Co. Ltd.

113202154

RMB common

113202154

Shengjiu Investment Ltd. 95688766

Foreign shares

listed in domestic

exchanges

95688766

Fang Wei 34071739

RMB common

34071739

Gong Qing Cheng Shi Li He 26791488 RMB common 26791488

Investment Management Partnership

Enterprise (limited partner)

Shenwan Hongyuan Securities

(Hong Kong) Co. Ltd.

13705232

Foreign shares

listed in domestic

exchanges

13705232

VANGUARD EMERGING

MARKETS STOCK INDEX FUND

7946483

Foreign shares

listed in domestic

exchanges

7946483

VANGUARD TOTAL

INTERNATIONAL STOCK INDEX

FUND

5872007

Foreign shares

listed in domestic

exchanges

5872007

Qu Chunlin 4236961

RMB common

4236961

First Shanghai Securities Limited 4001704

Foreign shares

listed in domestic

exchanges

4001704

Essence International Securities

(Hong Kong) Co. Ltd.

3757707

Foreign shares

listed in domestic

exchanges

3757707

Notes to top ten shareholder

relationship or "action in concert"

Among the shareholders Shenzhen Banglin Technology Development Co. Ltd. and Shengjiu

Investment Co. Ltd. are parties action-in-concert. Shenzhen Banglin Technology

Development Co. Ltd. and Gong Qing Cheng Shi Li He Investment Management Partnership

Enterprise are related parties. The Company is not notified of other action-in-concert or

related parties among the other holders of current shares.Top-10 common share shareholders

participating in margin trade (if any)

None

Agreed re-purchasing by the Company’s top 10 shareholders of common shares and top 10 shareholders of unconditional common

shares in the report period

□ Yes √ No

No agreed re-purchasing by the Company’s top 10 shareholders of common shares and top 10 shareholders of unconditional

common shares in the report period

2. Total number of preferred shareholders and shareholding of top 10 preferred shareholders by the end of

the report period

□ Applicable √ Inapplicable

III Significant Events

1. Major changes in accounting items and financial data in the report period and reasons

√ Applicable □ Inapplicable

In RMB

Item

Balance on September

30 2019

Balance on December

31 2018

YOY change

(% )

Cause of change

Notes receivable 90091337.35 140139692.84 -35.71%

Due to payment of mature

notes

Other current assets 119263124.05 51698111.14 130.69%

Mainly due to the increase

in the input tax to be

verified and to be deducted

Construction in process 95403024.12 58269452.72 63.73%

mainly due to the increase

in investment in

construction of the

Shanghai East China Base.Short-term loans 724000000.00 208000000.00 248.08%

Mainly due to increase in

bank borrowings

Prepayment received 138808823.95 278577848.54 -50.17%

Due to the transfer for

sales to settlement in the

period

Employees' wage payable 24458669.74 44513062.17 -45.05% Annual bonus paid

Taxes payable 20872749.79 107709999.19 -80.62%

Mainly due to the annual

final settlement of the

corporate income tax

Non-current liabilities due

in 1 year

850000000.00 200000000.00 325.00%

Reclassified long-term

loans due within 1 year

Long-term loans 599198144.39 1193978153.39 -49.81%

Mainly due to the repayment

and reclassification of

non-current liabilities

due in 1 year

Surplus reserves 54042195.07 120475221.40 -55.14%

Mainly due to the

repurchase of B shares in

the current period

Item

Total amount in this

year

Last period

YOY change

(% )

Cause of change

Taxes and surcharges 47749346.11 139027527.35 -65.65%

Mainly due to the decrease

in real estate income which

is due to the decrease in

provision of the land VAT.

R&D cost 35163348.44 11567916.09 203.97%

Due to increased investment

in research and development

Financial expenses 75982086.31 51121831.76 48.63%

Due to the increase in

borrowings during the

period and the suspension

of capitalization of

interest expenses of Fangda

Town project

Investment income 6163431.10 57877044.56 -89.35%

Due to the decrease in the

current wealth management

investment

Gain caused by changes in

fair value

- -34326342.25 100.00%

Changes in the fair value of

the fund investment in the

previous period

Income tax expenses 14924568.34 84216677.45 -82.28%

Mainly due to the decrease

in profits which is due to

the decrease in income tax

Net profit 156050013.39 321470008.08 -51.46%

Mainly due to recognition

of income from the Shenzhen

Fangda Town project and

decrease in the net profit

Cash flow generated by

business operations net

-408455390.94 112612558.74 -462.71%

Mainly due to the decrease

in cash flow from real

estate business activities

Cash flow generated by

investment activities net

-398879702.81 91103672.34 -537.83%

Mainly due to the increase

in net investment

expenditure during the

period the increase in

construction investment in

construction projects and

investment real estate and

the increase in investment

expenses of subsidiaries.Net cash flow generated by

financing activities

232130880.90 -431042206.35 153.85%

Mainly due to net increase

in current period bank

borrowings

2. Progress of key issues and its impacts and solutions

□ Applicable √ Inapplicable

Progress in the implementation of share repurchase

□ Applicable √ Inapplicable

Progress in the implementation of the reduction of shareholding shares by means of centralized bidding

□ Applicable √ Inapplicable

3. Commitments that have not been fulfilled by actual controller shareholders related parties

acquirers of the Company

□ Applicable √ Inapplicable

There is no commitment that has not been fulfilled by actual controller shareholders related parties acquirers of the Company

4. Forecast of operating performance in 2019

Warning and reasons of possible net loss or substantial change from the last period between the beginning of the year and the end of

the next report period

√ Applicable □ Inapplicable

Forecast: substantial decrease from the same period last year

Data type: within a period of time

Between beginning of the

year to the end of the next

report period

Same period last

year

Change

Net profit forecast (in

RMB10000)

20000 to 30000 224616.46 Decrease 91.10% t

86.64%

Basic earnings per share

(yuan/share)

0.18 to 0.27 1.91 Decrease 90.58% t

85.86%

Result forecast note The main reason for the expected decline in 2019 results:

1. The sales of Shenzhen Fangda Town project is nearly completed resulting in a decrease in

operating income and net profit;

2. In 2018 as the 1# building of Shenzhen Fangda Town Project wasrecognized as an

investment real estat at the end of the period the non recurring income of fair value change

generated by the end of the period's evaluation and appreciation increased the net profit

increased by approximately RMB 2.2 billion. In 2019 there was no such income from the

above business.

5. Securities investment

√ Applicable □ Inapplicable

In RMB

Securiti

Code

Abbrevi

ation

Initial

investm

ent cost

Account

ing

method

Opening

book

value

Gain/los

s caused

changes

in fair

value

Accumu

lative

changes

in fair

value

accounti

ng into

Amount

purchas

ed in the

period

Amount

sold in

the

period

Gain/los

Closing

book

value

Account

ing item

Capital

source

the

income

account

Fund 004400

Jinxin

Minxing

Bond A

200000

000.00

Measure

ment at

fair

value

0.00

200000

000.00

200000

000.00

761235

.04

0.00

Transact

ional

financia

l assets

Self-ow

ned fund

Fund 002163

Dongfan

g Huixin

Flexible

Configu

ration

Compou

Securitie

Investm

ent Fund

Class C

200000

000.00

Measure

ment at

fair

value

0.00

200000

000.00

200000

000.00

783043

.06

0.00

Transact

ional

financia

l assets

Self-ow

ned fund

Total

400000

000.00

-- 0.00 0.00 0.00

400000

000.00

400000

000.00

15442

78.10

0.00 -- --

Disclosure date of approval

by the Board of Directors

of securities investment

September 10 2018

Disclosure date of

securities investment

approval by the

Shareholders’ Meeting (if

any)

None

6. Entrusted wealth management

√ Applicable □ Inapplicable

In RMB10000

Type Source of fund Amount Undue balance

Due balance to be

recovered

Bank financial products Self-owned fund 54828 499.09 0

Total 54828 499.09 0

Specific circumstances of high-risk entrusted financing with large individual amount or low security poor liquidity and no cost

protection

□ Applicable √ Inapplicable

Entrusted financial management expected to fail to recover the principal or likely result in impairment

□ Applicable √ Inapplicable

7. Derivative investment

√ Applicable □ Inapplicable

In RMB10000

Derivati

investm

ent

operator

Relation

ship

transacti

Type

Initial

amount

Start

date

End

date

Initial

investm

ent

amount

Amount

in this

period

Amount

sold in

this

period

Impairm

ent

provisio

n (if

any)

Closing

investm

ent

amount

Proporti

on of

closing

investm

ent

amount

in the

closing

net

assets in

the

report

period

Actual

gain/los

s in the

report

period

Shangha

Futures

Exchan

No No

Shangha

aluminu

2535.7

July 13

2018

January

2020

2535.7

13096.

12059.

3573.2

0.71% 104.64

Total

2535.7

-- --

2535.7

13096.

12059.

3573.2

0.71% 104.64

Capital source Self-owned fund

Lawsuit (if any) None

Disclosure date of derivative

investment approval by the Board of

Directors (if any)

October 31 2017

Disclosure date of derivative

investment approval by the

Shareholders’ Meeting (if any)

None

Risk analysis and control measures

for the derivative holding in the

report period (including without

limitation market liquidity credit

operation and legal risks)

To prevent the risk of fluctuation of raw material prices the Company adopted the aluminum

futures exchanged at the domestic futures exchange to provide hedging for aluminum as a

raw material for the Company. The Company has set up and implemented the Provincial

Regulations on China Fangda Group Domestic Futures Hedging to prevent risks.

Changes in the market price or fair Fair value of derivatives are measured at open prices in the futures market

value of the derivative in the report

period the analysis of the derivative’

s fair value should disclose the

method used and related assumptions

and parameters.Material changes in the accounting

policies and rules related to the

derivative in the report period

compared to last period

None

Opinions of independent directors on

the Company’s derivative

investment and risk controlling

None

8. Reception of investigations communications or interviews in the reporting period

√ Applicable □ Inapplicable

Time/date Way Visitor Disclosure of information

August 28 2019 Onsite investigation Institution

Investor Relationship Record Form on

www.cninfo.com.cn

9. Incompliant external guarantee

□ Applicable √ Inapplicable

The Company made no incompliant external guarantee in the report period.

10. Non-operating capital use by the controlling shareholder or related parties in the

reporting term

□ Applicable √ Inapplicable

The controlling shareholder and its affiliates occupied no capital for non-operating purpose of the Company during the report period.

11. Performance of poverty relieving responsibilities

(I) As of the disclosure date of this report the Company has donated RMB824000 for the precision poverty

alleviation project in 2019 as follows:

(1) Donated RMB100000 to the Ganzhou Charity Federation of Jiangxi Province to fund the Ruijin City Charity Association to

purchase defibrillators at the Red Spot;

(2) donated RMB20000 to two poverty-stricken villages in Luxi County Pingxiang City Jiangxi Province for the construction of

public facilities;

(3) Donated RMB2000 to the Social Assistance Center of Luxiang Town Jinshan District Shanghai for charity assistance activities.

(4) In order to help the Lianhua County of Pingxiang City Jiangxi Province to achieve poverty alleviation the Company donated

500000 yuan to Pingxiang City Charity Association of Jiangxi Province for the development of lily industry in Shanbei Village

Liushi Township Lianhua County and Tianyu Village Fanglou Town Lianhua County.

(5) The Company donated RMB102500 to the Jiangxi Kaixuan Foundation to help the poor students in Suichuan county Ji'an city

and Jiangxi province.

(6) The Company donated RMB53000 to the elder caring activity of the Shenzhen Longgang Dakang community.

(7) The Company donated RMB30000 to the teenagers activity of the Shenzhen Longgang Dakang community.

(8) The Company donated RMB15000 to the poor students at Zhenglong village Shahe county Zhanggong district Ganzhou city

Jiangxi province.

(9) The Company donated RMB1500 to the CPC Shenzhen Property Management Industry Committee to purchase measure

equipment for the health center in the Liangshan Yi Autonomous Prefecture Sichuan province.(II) The Company will continue to fulfill its social responsibility for precision poverty alleviation and make

donations from time to time based on business development.

12. Others

Real estate：

(1) Shenzhen Fangda Town Project: In the first three quarters of 2019 the Fangda Town project achieved a sales area of

2966.37 square meters and an accumulated sales area of 85376.87 square meters.

(2) Nanchang Fangda Center Project (Fangda Center Project: The project is located in Fenghuangzhou Area Honggutan New

District Nanchang City. Construction started in May 2018. The project covers an area of about 17000 square meters and has a total

construction area of about 93000 square meters. With a total construction area of 66000 square meters Jirong is a commercial

complex covering commercial apartment and office buildings. The project plans to start pre-sale in the early 2020 and to complete at

the end of 2020. At present the project construction is progressing in accordance with the expected engineering

nodes.

(3) Shenzhen Fangda Bangshen Industrial Park Project: The project is located in Fuhai sub-district Bao'an District Shenzhen. It

covers an area of 20714.9 square meters and is currently an industrial plant. As of the end of the third quarter of 2019 the project has

been approved and established. The special planning phase has been applied for.

(4) Urban renewal project along the Dagang River in Henggang Shenzhen: The project is located in Dakang Village Yuanshan

Street Longgang District Shenzhen. The area of the project to be demolished is about 80000 square meters. The update direction is

mainly residential function and finally subject to government approval. The project work is currently being actively

promoted.

IV Financial Statements

1. Financial statements

1. Consolidated Balance Sheet

Prepared by: China Fangda Group Co. Ltd.September 30 2019

In RMB

Item September 30 2019 December 31 2018

Current asset:

Monetary capital 1103139175.15 1389062083.76

Settlement provision

Outgoing call loan

Transactional financial assets 9990899.17

Financial assets measured at fair

value with variations accounted into

current income account

Derivative financial assets 166875.00

Notes receivable 90091337.35 140139692.84

Account receivable 2136208395.20 1920075031.85

Receivable financing

Prepayment 46395302.30 46454844.74

Insurance receivable

Reinsurance receivable

Provisions of Reinsurance

contracts receivable

Other receivables 149672873.43 139990188.26

Including: interest receivable

Dividend receivable

Repurchasing of financial assets

Inventory 826209926.06 651405832.29

Contract assets

Assets held for sales

Non-current assets due in 1 year

Other current assets 119263124.05 51698111.14

Total current assets 4481137907.71 4338825784.88

Non-current assets:

Loan and advancement provided

Debt investment

Sellable financial assets 21674008.23

Other debt investment

Investment held until mature

Long-term receivable

Long-term share equity investment 60623286.80 70105657.88

Investment in other equity tools 21674008.23

Other non-current financial assets

Investment real estate 5287170813.77 5256442406.63

Fixed assets 473321353.16 455274241.83

Construction in process 95403024.12 58269452.72

Productive biological assets

Gas & petrol

Use right assets

Intangible assets 79042376.96 80313240.67

R&D expense

Goodwill

Long-term amortizable expenses 2848412.67 2114331.46

Deferred income tax assets 363287360.68 356474925.76

Other non-current assets 23912562.00 19360083.67

Total of non-current assets 6407283198.39 6320028348.85

Total of assets 10888421106.10 10658854133.73

Current liabilities

Short-term loans 724000000.00 208000000.00

Loans from Central Bank

Call loan received

Transactional financial liabilities

Financial liabilities measured at

fair value with variations accounted into

current income account

Derivative financial liabilities 1625725.00

Notes payable 574310069.62 507864518.19

Account payable 942136009.60 1039630798.64

Prepayment received 138808823.95 278577848.54

Contract liabilities

Selling of repurchased financial

assets

Deposit received and held for

others

Entrusted trading of securities

Entrusted selling of securities

Employees' wage payable 24458669.74 44513062.17

Taxes payable 20872749.79 107709999.19

Other payables 842141293.22 813118699.84

Including: interest payable 2411435.97 2098971.44

Dividend payable

Fees and commissions payable

Reinsurance fee payable

Liabilities held for sales

Non-current liabilities due in 1

year

850000000.00 200000000.00

Other current liabilities 10048033.18 9328682.25

Total current liabilities 4126775649.10 3210369333.82

Non-current liabilities:

Insurance contract provision

Long-term loans 599198144.39 1193978153.39

Bond payable

Including: preferred stock

Perpetual bond

Lease liabilities

Long-term payable

Long-term employees’ wage

payable

Anticipated liabilities 6012597.12 6831162.99

Deferred earning 10879551.33 10401161.30

Deferred income tax liabilities 1043689588.60 1042086700.35

Other non-current liabilities

Total of non-current liabilities 1659779881.44 2253297178.03

Total liabilities 5786555530.54 5463666511.85

Owner’s equity:

Share capital 1123384189.00 1155481686.00

Other equity tools

Including: preferred stock

Perpetual bond

Capital reserves 1454191.59 1454191.59

Less: Shares in stock 10831437.66

Other miscellaneous income 3832489.79 7382087.59

Special reserves

Surplus reserves 54042195.07 120475221.40

Common risk provisions

Retained profit 3868770369.15 3921225872.96

Total of owner’s equity belong to the

parent company

5051483434.60 5195187621.88

Minor shareholders’ equity 50382140.96

Total of owners’ equity 5101865575.56 5195187621.88

Total of liabilities and owner’s interest 10888421106.10 10658854133.73

Legal representative: Xiong Jianming CFO: Lin Kebing Accounting Manager: Wu Bohua

2. Balance Sheet of the Parent Company

In RMB

Item September 30 2019 December 31 2018

Current asset:

Monetary capital 122357849.68 410118157.55

Transactional financial assets

Financial assets measured at fair

value with variations accounted into

current income account

Derivative financial assets

Notes receivable 200000000.00

Account receivable 471039.12

Receivable financing

Prepayment 369977.96 6733047.16

Other receivables 2381200854.60 822543653.04

Including: interest receivable

Dividend receivable 100000000.00

Inventory

Contract assets

Assets held for sales

Non-current assets due in 1 year

Other current assets 789549.44 919388.18

Total current assets 2504718231.68 1440785285.05

Non-current assets:

Debt investment

Sellable financial assets 21674008.23

Other debt investment

Investment held until mature

Long-term receivable

Long-term share equity investment 1013339495.35 983339494.35

Investment in other equity tools 21674008.23

Other non-current financial assets

Investment real estate 293570141.37 309189866.37

Fixed assets 67948275.98 53784811.23

Construction in process

Productive biological assets

Gas & petrol

Use right assets

Intangible assets 1878062.26 2112301.97

R&D expense

Goodwill

Long-term amortizable expenses 707499.62 917499.68

Deferred income tax assets 41874360.60 34555598.81

Other non-current assets

Total of non-current assets 1440991843.41 1405573580.64

Total of assets 3945710075.09 2846358865.69

Current liabilities

Short-term loans 300000000.00 200000000.00

Transactional financial liabilities

Financial liabilities measured at

fair value with variations accounted into

current income account

Derivative financial liabilities

Notes payable

Account payable 606941.85 676941.85

Prepayment received 694791.63 733274.16

Contract liabilities

Employees' wage payable 1037729.43 2145763.39

Taxes payable 1119390.01 341004.65

Other payables 545462539.20 300006406.51

Including: interest payable 1207576.41 740208.33

Dividend payable

Liabilities held for sales

Non-current liabilities due in 1

year

500000000.00

Other current liabilities

Total current liabilities 1348921392.12 503903390.56

Non-current liabilities:

Long-term loans 90000000.00 500000000.00

Bond payable

Including: preferred stock

Perpetual bond

Lease liabilities

Long-term payable

Long-term employees’ wage

payable

Anticipated liabilities

Deferred earning

Deferred income tax liabilities 63979716.40 64130617.41

Other non-current liabilities

Total of non-current liabilities 153979716.40 564130617.41

Total liabilities 1502901108.52 1068034007.97

Owner’s equity:

Share capital 1123384189.00 1155481686.00

Other equity tools

Including: preferred stock

Perpetual bond

Capital reserves 360835.52 360835.52

Less: Shares in stock 10831437.66

Other miscellaneous income 3590127.88 8756553.46

Special reserves

Surplus reserves 54042195.07 120475221.40

Retained profit 1261431619.10 504081999.00

Total of owners’ equity 2442808966.57 1778324857.72

Total of liabilities and owner’s interest 3945710075.09 2846358865.69

3. Consolidated Income Statement of the Report Period

In RMB

Item Amount occurred in the current period Occurred in previous period

1. Total revenue 699243342.82 793250321.93

Incl. Business income 699243342.82 793250321.93

Interest income

Insurance fee earned

Fee and commission

received

2. Total business cost 666684444.58 674600862.14

Incl. Business cost 562481963.87 568150146.71

Interest expense

Fee and commission paid

Insurance discharge payment

Net claim amount paid

Net insurance policy

responsibility reserves provided

Insurance policy dividend

paid

Reinsurance expenses

Taxes and surcharges 6268346.04 37823332.32

Sales expense 13562766.99 10702477.61

Administrative expense 37409946.41 37002879.24

R&D cost 20460675.32 3572516.18

Financial expenses 26500745.95 17349510.08

Including: interest cost 23424082.73 25702800.18

Interest income 1208273.71 3207162.41

Add: other gains 2131742.20 1058639.79

Investment gains (“-” for loss) 2107033.94 31632282.15

Incl. Investment gains from

affiliates and joint ventures

-156637.53 -159703.29

Financial assets

derecognised as a result of amortized cost

Exchange gains ("-" for loss)

Net open hedge gains (“-” for

loss)

Gains from change of fair value(“-“ for loss)

-121506.67 -25429705.00

Credit impairment ("-" for loss) -18366483.61

Investment impairment loss

("-" for loss)

-11717054.18

Investment gains ("-" for loss) -8050.57 -1981867.64

3. Operational profit ("-" for loss) 18301633.53 112211754.91

Plus: non-operational income 1061813.66 464154.45

Less: non-operational expenditure 953272.75 167066.97

4. Gross profit ("-" for loss) 18410174.44 112508842.39

Less: Income tax expenses -9094691.37 21170497.50

5. Net profit ("-" for net loss) 27504865.81 91338344.89

(1) By operating consistency

1. Net profit from continuous

operation ("-" for net loss)

27504865.81 91338344.89

2. Net profit from discontinuous

operation ("-" for net loss)

(2) By ownership

1. Net profit attributable to the

owners of parent company

27468258.38 91338344.89

2. Minor shareholders’ equity 36607.43

6. After-tax net amount of other misc.

incomes

227053.45 1286962.78

After-tax net amount of other misc.

incomes attributed to parent's owner

227053.45 1286962.78

(1) Other misc. incomes that cannot

be re-classified into gain and loss

1. Re-measure the change in

the defined benefit plan

2. Other comprehensive

income that cannot be transferred to

profit or loss under the equity method

3. Fair value change of

investment in other equity tools

4. Fair value change of the

company's credit risk

5. Others

(2) Other misc. incomes that will be

re-classified into gain and loss

227053.45 1286962.78

1. Other comprehensive

income that can be transferred to profit or

loss under the equity method

2. Fair value change of other

debt investment

3. Change in the fair value of

financial asset for sale

4. Gains and losses from

changes in fair value of available-for-sale

financial assets

5. Held-to-mature

investment reclassified as gain and loss in

the financial assets for sales

6. Other credit investment

credit impairment provisions

7. Cash flow hedge reserve 127075.00 1232080.00

8. Translation difference of

foreign exchange statement

99978.45 54882.78

9. Others

After-tax net of other misc. income

attributed to minority shareholders

7. Total of misc. incomes 27731919.26 92625307.67

Total of misc. incomes attributable

to the owners of the parent company

27695311.83 92625307.67

Total misc gains attributable to the

minor shareholders

36607.43

8. Earnings per share:

(1) Basic earnings per share 0.02 0.08

(2) Diluted earnings per share 0.02 0.08

Net profit contributed by entities merged under common control in the report period was RMB0.00 net profit realized by parties

merged during the previous period is RMB0.00.Legal representative: Xiong Jianming CFO: Lin Kebing Accounting Manager: Wu Bohua

4. Consolidated Income Statement of the Report Period

In RMB

Item Amount occurred in the current period Occurred in previous period

1. Turnover 7375435.58 7795537.50

Less: Operation cost 106833.17 559020.48

Taxes and surcharges 323375.21 324914.12

Sales expense 0.00

Administrative expense 5985937.55 5790565.51

R&D cost 0.00

Financial expenses 12747466.71 9138885.73

Including: interest cost 11186191.67 9896208.34

Interest income 72058.89 408881.16

Add: other gains 73719.18

Investment gains (“-” for

loss)

1000481381.24 11500427.84

Incl. Investment gains from

affiliates and joint ventures

0.00

Financial assets

derecognised as a result of amortized

cost

Net open hedge gains (“-”

for loss)

Gains from change of fairvalue (“-“ for loss)

0.00 -10171856.57

Credit impairment ("-" for

loss)

1191.25

Investment impairment loss

("-" for loss)

0.00 17615.04

Investment gains ("-" for loss) 0.00 -55328.84

2. Operational profit (“-” for loss) 988768114.61 -6726990.87

Plus: non-operational income 0.00 2500.00

Less: non-operational expenditure 607774.57 5494.62

3. Gross profit (“-” for loss) 988160340.04 -6729985.49

Less: Income tax expenses -2951715.89

4. Net profit (“-” for net loss) 991112055.93 -6729985.49

(1) Net profit from continuous

operation ("-" for net loss)

991112055.93 -6729985.49

(2) Net profit from discontinuous

operation ("-" for net loss)

0.00

5. After-tax net amount of other misc.

incomes

(1) Other misc. incomes that

cannot be re-classified into gain and

loss

1. Re-measure the change

in the defined benefit plan

2. Other comprehensive

income that cannot be transferred to

profit or loss under the equity method

3. Fair value change of

investment in other equity tools

4. Fair value change of the

company's credit risk

5. Others

(2) Other misc. incomes that will

be re-classified into gain and loss

1. Other comprehensive

income that can be transferred to profit

or loss under the equity method

2. Fair value change of

other debt investment

3. Change in the fair value

of financial asset for sale

4. Gains and losses from

changes in fair value of

available-for-sale financial assets

5. Held-to-mature

investment reclassified as gain and loss

in the financial assets for sales

6. Other credit investment

credit impairment provisions

7. Cash flow hedge reserve

8. Translation difference of

foreign exchange statement

9. Others

6. Total of misc. incomes 991112055.93 -6729985.49

7. Earnings per share:

(1) Basic earnings per share

(2) Diluted earnings per share

5. Consolidated Income Statement Between the Beginning of the Year and End of the Report Period

In RMB

Item Amount occurred in the current period Occurred in previous period

1. Total revenue 2125134289.81 2235301218.46

Incl. Business income 2125134289.81 2235301218.46

Interest income

Insurance fee earned

Fee and commission

received

2. Total business cost 1948269844.75 1846658281.62

Incl. Business cost 1628547934.43 1503636322.43

Interest expense

Fee and commission paid

Insurance discharge payment

Net claim amount paid

Net insurance policy

responsibility reserves provided

Insurance policy dividend

paid

Reinsurance expenses

Taxes and surcharges 47749346.11 139027527.35

Sales expense 40738405.49 37762618.85

Administrative expense 120088723.97 103542065.13

R&D cost 35163348.44 11567916.09

Financial expenses 75982086.31 51121831.76

Including: interest cost 63900969.21 56940394.38

Interest income 3647364.62 6869263.66

Add: other gains 6133192.71 3757831.37

Investment gains (“-” for loss) 6163431.10 57877044.56

Incl. Investment gains from

affiliates and joint ventures

-482371.08 -1230704.06

Financial assets

derecognised as a result of amortized cost

Exchange gains ("-" for loss)

Net open hedge gains (“-” for

loss)

Gains from change of fair value(“-“ for loss)

-34326342.25

Credit impairment ("-" for loss) -22736143.99

Investment impairment loss

("-" for loss)

-13572017.23

Investment gains ("-" for loss) -35159.35 -3533733.22

3. Operational profit ("-" for loss) 166389765.53 398845720.07

Plus: non-operational income 5935705.81 7530192.86

Less: non-operational expenditure 1331838.55 689227.40

4. Gross profit ("-" for loss) 170993632.79 405686685.53

Less: Income tax expenses 14924568.34 84216677.45

5. Net profit ("-" for net loss) 156069064.45 321470008.08

(1) By operating consistency

1. Net profit from continuous

operation ("-" for net loss)

156075582.20 321470008.08

2. Net profit from discontinuous -6517.75

operation ("-" for net loss)

(2) By ownership

1. Net profit attributable to the

owners of parent company

156050013.39 321470008.08

2. Minor shareholders’ equity 19051.06

6. After-tax net amount of other misc.

incomes

1616827.78 -592793.39

After-tax net amount of other misc.

incomes attributed to parent's owner

1616827.78 -592793.39

(1) Other misc. incomes that cannot

be re-classified into gain and loss

1. Re-measure the change in

the defined benefit plan

2. Other comprehensive

income that cannot be transferred to

profit or loss under the equity method

3. Fair value change of

investment in other equity tools

4. Fair value change of the

company's credit risk

5. Others

(2) Other misc. incomes that will be

re-classified into gain and loss

1616827.78 -592793.39

1. Other comprehensive

income that can be transferred to profit or

loss under the equity method

2. Fair value change of other

debt investment

3. Change in the fair value of

financial asset for sale

4. Gains and losses from

changes in fair value of available-for-sale

financial assets

5. Held-to-mature

investment reclassified as gain and loss in

the financial assets for sales

6. Other credit investment

credit impairment provisions

7. Cash flow hedge reserve 1523710.00 -606921.25

8. Translation difference of

foreign exchange statement

93117.78 14127.86

9. Others

After-tax net of other misc. income

attributed to minority shareholders

7. Total of misc. incomes 157685892.23 320877214.69

Total of misc. incomes attributable

to the owners of the parent company

157666841.17 320877214.69

Total misc gains attributable to the

minor shareholders

19051.06

8. Earnings per share:

(1) Basic earnings per share 0.14 0.28

(2) Diluted earnings per share 0.14 0.28

Net profit contributed by entities merged under common control in the report period was RMB0.00 net profit realized by parties

merged during the previous period is RMB0.00.Legal representative: Xiong Jianming CFO: Lin Kebing Accounting Manager: Wu Bohua

6. Income Statement of the Parent Between the Beginning of the Year and to of the Report Period

In RMB

Item Amount occurred in the current period Occurred in previous period

1. Turnover 24517458.46 22907827.70

Less: Operation cost 3603421.23 1232598.73

Taxes and surcharges 969078.70 975716.94

Sales expense

Administrative expense 17272507.40 15924036.36

R&D cost

Financial expenses 34116846.72 16687577.76

Including: interest cost 28509177.79 18446237.53

Interest income 423187.78 1990291.21

Add: other gains 307786.17 114556.59

Investment gains (“-” for

loss)

1001636564.66 19638911.06

Incl. Investment gains from

affiliates and joint ventures

Financial assets

derecognised as a result of amortized

cost

Net open hedge gains (“-”

for loss)

Gains from change of fairvalue (“-“ for loss)

-13600985.30

Credit impairment ("-" for

loss)

5923.64

Investment impairment loss

("-" for loss)

-81061.84

Investment gains ("-" for loss) -55902.90

2. Operational profit (“-” for loss) 970505878.88 -5896584.48

Plus: non-operational income 13947.68 261144.66

Less: non-operational expenditure 714163.21 6232.62

3. Gross profit (“-” for loss) 969805663.35 -5641672.44

Less: Income tax expenses -7497054.35 1531510.40

4. Net profit (“-” for net loss) 977302717.70 -7173182.84

(1) Net profit from continuous

operation ("-" for net loss)

977302717.70 -7173182.84

(2) Net profit from discontinuous

operation ("-" for net loss)

5. After-tax net amount of other misc.

incomes

(1) Other misc. incomes that

cannot be re-classified into gain and

loss

1. Re-measure the change

in the defined benefit plan

2. Other comprehensive

income that cannot be transferred to

profit or loss under the equity method

3. Fair value change of

investment in other equity tools

4. Fair value change of the

company's credit risk

5. Others

(2) Other misc. incomes that will

be re-classified into gain and loss

1. Other comprehensive

income that can be transferred to profit

or loss under the equity method

2. Fair value change of

other debt investment

3. Change in the fair value

of financial asset for sale

4. Gains and losses from

changes in fair value of

available-for-sale financial assets

5. Held-to-mature

investment reclassified as gain and loss

in the financial assets for sales

6. Other credit investment

credit impairment provisions

7. Cash flow hedge reserve

8. Translation difference of

foreign exchange statement

9. Others

6. Total of misc. incomes 977302717.70 -7173182.84

7. Earnings per share:

(1) Basic earnings per share

(2) Diluted earnings per share

7. Consolidated Cash Flow Statement Between the Beginning of the Year and End of the Report Period

In RMB

Item Amount occurred in the current period Occurred in previous period

1. Net cash flow from business

operations:

Cash received from sales of

products and providing of services

1891062422.83 2207987021.72

Net increase of customer deposits

and capital kept for brother company

Net increase of loans from central

bank

Net increase of inter-bank loans

from other financial bodies

Cash received against original

insurance contract

Net cash received from reinsurance

business

Net increase of client deposit and

investment

Cash received as interest

processing fee and commission

Net increase of inter-bank fund

received

Net increase of repurchasing

business

Net cash received from trading

securities

Tax refunded 3159514.49 4988463.29

Other cash received from business

operation

79255080.98 292273568.66

Sub-total of cash inflow from business

operations

1973477018.30 2505249053.67

Cash paid for purchasing products

and services

1499926065.43 1429144992.91

Net increase of client trade and

advance

Net increase of savings in central

bank and brother company

Cash paid for original contract

claim

Net increase in funds dismantled

Cash paid for interest processing

fee and commission

Cash paid for policy dividend

Cash paid to and for the staff 237800254.07 210878995.88

Taxes paid 211775200.67 272518173.65

Other cash paid for business

activities

432430889.07 480094332.49

Sub-total of cash outflow from business

operations

2381932409.24 2392636494.93

Cash flow generated by business

operations net

-408455390.94 112612558.74

2. Cash flow generated by investment:

Cash received from investment

recovery

4552412407.01 6215580000.00

Cash received as investment profit 57732090.85 64596027.07

Net cash retrieved from disposal of

fixed assets intangible assets and other

long-term assets

13225319.48 16523904.33

Net cash received from disposal of

subsidiaries or other operational units

Other investment-related cash

received

Sub-total of cash inflow generated from

investment

4623369817.34 6296699931.40

Cash paid for construction of fixed

assets intangible assets and other

long-term assets

138895689.84 49609863.23

Cash paid as investment 4821419000.00 6155986395.83

Net increase of loan against pledge

Net cash paid for acquiring

subsidiaries and other operational units

61934830.31

Other cash paid for investment

Subtotal of cash outflows 5022249520.15 6205596259.06

Cash flow generated by investment

activities net

-398879702.81 91103672.34

3. Cash flow generated by financing

activities:

Cash received from investment

Incl. Cash received from

investment attracted by subsidiaries

from minority shareholders

Cash received from borrowed

loans

939219991.00 708000000.00

Other cash received from financing

activities

39406.61

Subtotal of cash inflow from financing

activities

939259397.61 708000000.00

Cash paid to repay debts 368000000.00 780577298.43

Cash paid as dividend profit or 299128516.71 258660130.40

interests

Incl. Dividend and profit paid by

subsidiaries to minority shareholders

Other cash paid for financing

activities

40000000.00 99804777.52

Subtotal of cash outflow from financing

activities

707128516.71 1139042206.35

Net cash flow generated by financing

activities

232130880.90 -431042206.35

4. Influence of exchange rate changes

on cash and cash equivalents

506834.88 3084851.98

5. Net increase in cash and cash

equivalents

-574697377.97 -224241123.29

Plus: Balance of cash and cash

equivalents at the beginning of term

956190890.68 931285535.55

6. Balance of cash and cash equivalents

at the end of the period

381493512.71 707044412.26

8. Cash Flow Statement of the Parent Between the Beginning of the Year and End of the Report Period

In RMB

Item Amount occurred in the current period Occurred in previous period

1. Net cash flow from business

operations:

Cash received from sales of

products and providing of services

19933171.21 153999350.74

Tax refunded

Other cash received from business

operation

2110545435.02 1409325820.93

Sub-total of cash inflow from business

operations

2130478606.23 1563325171.67

Cash paid for purchasing products

and services

2295025.64 1250558.30

Cash paid to and for the staff 12369917.61 10320094.96

Taxes paid 1788240.77 19134230.81

Other cash paid for business

activities

3522929091.82 1684835834.03

Sub-total of cash outflow from business 3539382275.84 1715540718.10

operations

Cash flow generated by business

operations net

-1408903669.61 -152215546.43

2. Cash flow generated by investment:

Cash received from investment

recovery

1805000000.00 2273880000.00

Cash received as investment profit 1101636564.66 20659911.06

Net cash retrieved from disposal of

fixed assets intangible assets and other

long-term assets

5000.00

Net cash received from disposal of

subsidiaries or other operational units

10000000.00

Other investment-related cash

received

Sub-total of cash inflow generated from

investment

2906636564.66 2304544911.06

Cash paid for construction of fixed

assets intangible assets and other

long-term assets

52697.00 576678.00

Cash paid as investment 1835000001.00 2321870000.00

Net cash paid for acquiring

subsidiaries and other operational units

Other cash paid for investment

Subtotal of cash outflows 1835052698.00 2322446678.00

Cash flow generated by investment

activities net

1071583866.66 -17901766.94

3. Cash flow generated by financing

activities:

Cash received from investment

Cash received from borrowed

loans

400000000.00 700000000.00

Other cash received from financing

activities

39406.61

Subtotal of cash inflow from financing

activities

400039406.61 700000000.00

Cash paid to repay debts 10000000.00 250000000.00

Cash paid as dividend profit or

interests

252206781.54 199919295.82

Other cash paid for financing

activities

99804777.52

Subtotal of cash outflow from financing

activities

262206781.54 549724073.34

Net cash flow generated by financing

activities

137832625.07 150275926.66

4. Influence of exchange rate changes

on cash and cash equivalents

405.76 -169472.11

5. Net increase in cash and cash

equivalents

-199486772.12 -20010858.82

Plus: Balance of cash and cash

equivalents at the beginning of term

281594621.80 310049329.68

6. Balance of cash and cash equivalents

at the end of the period

82107849.68 290038470.86

II. Financial Statement Adjustment

1. The first implementation of the new financial instruments guidelines new income standards new lease

standards adjustments the first implementation of the financial statements at the beginning of the year

√ Applicable □ Inapplicable

Consolidated Balance Sheet

In RMB

Item December 31 2018 January 1 2019 Adjustment

Current asset:

Monetary capital 1389062083.76 1389062083.76

Settlement provision

Outgoing call loan

Transactional financial

assets

Financial assets

measured at fair value with

variations accounted into

current income account

Derivative financial

assets

Notes receivable 140139692.84 140139692.84

Account receivable 1920075031.85 1932765689.04 12690657.19

Receivable financing

Prepayment 46454844.74 46454844.74

Insurance receivable

Reinsurance receivable

Provisions of

Reinsurance contracts

receivable

Other receivables 139990188.26 142135200.55 2145012.29

Including: interest

receivable

Dividend

receivable

Repurchasing of

financial assets

Inventory 651405832.29 651405832.29

Contract assets

Assets held for sales

Non-current assets due

in 1 year

Other current assets 51698111.14 51698111.14

Total current assets 4338825784.88 4353661454.36 14835669.48

Non-current assets:

Loan and advancement

provided

Debt investment

Sellable financial assets 21674008.23 -21674008.23

Other debt investment

Investment held until

mature

Long-term receivable

Long-term share equity

investment

70105657.88 70105657.88

Investment in other

equity tools

21674008.23 21674008.23

Other non-current

financial assets

Investment real estate 5256442406.63 5230896067.50

Fixed assets 455274241.83 455274241.83

Construction in process 58269452.72 58269452.72

Productive biological

assets

Gas & petrol

Use right assets

Intangible assets 80313240.67 80313240.67

R&D expense

Goodwill

Long-term amortizable

expenses

2114331.46 2114331.46

Deferred income tax

assets

356474925.76 356474925.76 -3305914.45

Other non-current assets 19360083.67 19360083.67

Total of non-current assets 6320028348.85 6316722434.40 -3305914.45

Total of assets 10658854133.73 10670383888.76 11529755.03

Current liabilities

Short-term loans 208000000.00 208000000.00

Loans from Central

Bank

Call loan received

Transactional financial

liabilities

Financial liabilities

measured at fair value with

variations accounted into

current income account

Derivative financial

liabilities

1625725.00 1625725.00

Notes payable 507864518.19 507864518.19

Account payable 1039630798.64 1039630798.64

Prepayment received 278577848.54 278577848.54

Contract liabilities

Selling of repurchased

financial assets

Deposit received and

held for others

Entrusted trading of

securities

Entrusted selling of

securities

Employees' wage

payable

44513062.17 44513062.17

Taxes payable 107709999.19 107709999.19

Other payables 813118699.84 813118699.84

Including: interest

payable

2098971.44 2098971.44

Dividend

payable

Fees and commissions

payable

Reinsurance fee payable

Liabilities held for sales

Non-current liabilities

due in 1 year

200000000.00 200000000.00

Other current liabilities 9328682.25 9328682.25

Total current liabilities 3210369333.82 3210369333.82

Non-current liabilities:

Insurance contract

provision

Long-term loans 1193978153.39 1193978153.39

Bond payable

Including: preferred

stock

Perpetual

bond

Lease liabilities

Long-term payable

Long-term employees’

wage payable

Anticipated liabilities 6831162.99 6831162.99

Deferred earning 10401161.30 10401161.30

Deferred income tax

liabilities

1042086700.35 1042086700.35

Other non-current

liabilities

Total of non-current

liabilities

2253297178.03 2253297178.03

Total liabilities 5463666511.85 5463666511.85

Owner’s equity:

Share capital 1155481686.00 1155481686.00

Other equity tools

Including: preferred

stock

Perpetual

bond

Capital reserves 1454191.59 1454191.59

Less: Shares in stock 10831437.66 10831437.66

Other miscellaneous

income

7382087.59 2215662.01 -5166425.58

Special reserves

Surplus reserves 120475221.40 121000081.43 524860.03

Common risk provisions

Retained profit 3921225872.96 3937397193.54 16171320.58

Total of owner’s equity

belong to the parent company

5195187621.88 5206717376.91 11529755.03

Minor shareholders’

equity

Total of owners’ equity 5195187621.88 5206717376.91 11529755.03

Total of liabilities and

owner’s interest

10658854133.73 10670383888.76 11529755.03

About the adjustment

In 2017 the Ministry of Finance revised and released the "Accounting Standards for Business Enterprises No. 22 - Recognition

and Measurement of Financial Instruments" "Accounting Standards for Business Enterprises No. 23 - Transfer of Financial Assets"

"Accounting Standards for Business Enterprises No. 24 - Hedge Accounting" "Accounting Standards for Business Enterprises No. 37

- Financial Instruments Presentation" (hereinafter collectively referred to as the "New Financial Instruments Standards") and requires

enterprises listed in China to implement the above accounting standards from January 1 2019.In accordance with the above requirements the Company will implement the new financial instrument standard from January 1

2019 and reclassify the original financial assets into transactional financial assets derivative financial assets other equity instrument

investments and other non-current financial assets. Non-transaction equity instrument investment is designated as financial assets

measured at fair value through other comprehensive income and is presented in “other equity instrument investment” items. At the

same time the loss provision prepared by the original financial instrument standard is adjusted to be in accordance with the new

financial instrument. According to the regulations it is not necessary to repeat the data of the 2018 comparative period when

preparing the report for each period of 2019 but it is necessary to make retrospective adjustments to the retained earnings or other

comprehensive income at the beginning of 2019.

Balance Sheet of the Parent Company

In RMB

Item December 31 2018 January 1 2019 Adjustment

Current asset:

Monetary capital 410118157.55 410118157.55

Transactional financial

assets

Financial assets

measured at fair value with

variations accounted into

current income account

Derivative financial

assets

Notes receivable 200000000.00 200000000.00

Account receivable 471039.12 471039.12 8595.25

Receivable financing

Prepayment 6733047.16 6733047.16

Other receivables 822543653.04 822543653.04 100970.95

Including: interest

receivable

Dividend

receivable

100000000.00 100000000.00

Inventory

Contract assets

Assets held for sales

Non-current assets due

in 1 year

Other current assets 919388.18 919388.18

Total current assets 1440785285.05 1440894851.25 109566.20

Non-current assets:

Debt investment

Sellable financial assets 21674008.23 -21674008.23

Other debt investment

Investment held until

mature

Long-term receivable

Long-term share equity

investment

983339494.35 983339494.35

Investment in other

equity tools

21674008.23 21674008.23

Other non-current

financial assets

Investment real estate 309189866.37 309189866.37

Fixed assets 53784811.23 53784811.23

Construction in process

Productive biological

assets

Gas & petrol

Use right assets

Intangible assets 2112301.97 2112301.97

R&D expense

Goodwill

Long-term amortizable

expenses

917499.68 917499.68

Deferred income tax

assets

34555598.81 34528207.26 -27391.55

Other non-current assets

Total of non-current assets 1405573580.64 1405546189.09 -27391.55

Total of assets 2846358865.69 2846441040.34 82174.65

Current liabilities

Short-term loans 200000000.00 200000000.00

Transactional financial

liabilities

Financial liabilities

measured at fair value with

variations accounted into

current income account

Derivative financial

liabilities

Notes payable

Account payable 676941.85 676941.85

Prepayment received 733274.16 733274.16

Contract liabilities

Employees' wage

payable

2145763.39 2145763.39

Taxes payable 341004.65 341004.65

Other payables 300006406.51 300006406.51

Including: interest

payable

740208.33 740208.33

Dividend

payable

Liabilities held for sales

Non-current liabilities

due in 1 year

Other current liabilities

Total current liabilities 503903390.56 503903390.56

Non-current liabilities:

Long-term loans 500000000.00 500000000.00

Bond payable

Including: preferred

stock

Perpetual

bond

Lease liabilities

Long-term payable

Long-term employees’

wage payable

Anticipated liabilities

Deferred earning

Deferred income tax

liabilities

64130617.41 64130617.41

Other non-current

liabilities

Total of non-current

liabilities

564130617.41 564130617.41

Total liabilities 1068034007.97 1068034007.97

Owner’s equity:

Share capital 1155481686.00 1155481686.00

Other equity tools

Including: preferred

stock

Perpetual

bond

Capital reserves 360835.52 360835.52

Less: Shares in stock 10831437.66 10831437.66

Other miscellaneous

income

8756553.46 3590127.88 -5166425.58

Special reserves

Surplus reserves 120475221.40 121000081.43 524860.03

Retained profit 504081999.00 508805739.20 4723740.20

Total of owners’ equity 1778324857.72 1778407032.37 82174.65

Total of liabilities and

owner’s interest

2846358865.69 2846441040.34 82174.65