CSG Holding Co., Ltd. - First Quarter Report 2023 Summary
Core Content
The First Quarter Report 2023 of CSG Holding Co., Ltd. provides an overview of the company's financial performance, shareholder information, and other important matters. The report is prepared in both Chinese and English, with the Chinese version taking precedence in case of discrepancies.
Main Financial Data
Major Accounting Data and Financial Indicators
| Item |
Report Period (RMB) |
Same Period of Previous Year (RMB) |
Year-on-Year Change |
| Operating Income |
4,070,673,784 |
2,785,709,687 |
46.13% |
| Net Profit Attributable to Shareholders |
396,406,087 |
383,682,831 |
3.32% |
| Net Profit After Deducting Non-Recurring Gains/Losses |
369,241,752 |
336,240,261 |
9.81% |
| Net Cash Flow from Operating Activities |
-284,407,179 |
102,057,062 |
-378.67% |
| Basic Earnings Per Share |
0.13 |
0.12 |
8.33% |
| Diluted Earnings Per Share |
0.13 |
0.12 |
8.33% |
| Weighted Average ROE (%) |
3.04% |
3.30% |
-0.26% |
Changes in Major Accounting Data and Financial Indicators
| Item |
End of Report Period (RMB) |
End of Previous Year (RMB) |
Change |
| Total Assets |
25,637,078,162 |
25,904,013,306 |
-1.03% |
| Net Assets Attributable to Shareholders |
13,249,455,886 |
12,854,883,706 |
3.07% |
Non-Recurring Gains and Losses
| Item |
Amount (RMB) |
Note |
| Gains/Losses from disposal of non-current assets |
164,780 |
|
| Governmental subsidy |
23,460,674 |
|
| Profit and loss from changes in fair value |
756,383 |
|
| Reversal of provision for impairment of receivables |
680,240 |
|
| Other non-operating income and expenditure |
7,104,485 |
|
| Less: Impact on income tax |
4,724,159 |
|
| Impact on minority shareholders' equity (post-tax) |
278,068 |
|
| Total |
27,164,335 |
|
Shareholder Information
Total Number of Shareholders
- Total common shareholders at the end of the report period: 164,653
- Preference shareholders with voting rights recovered: 0
Top Ten Shareholders
| Shareholder |
Proportion of Shares Held |
Amount of Shares Held |
Share Status |
| Foresea Life Insurance Co., Ltd. - HailiNiannian |
15.19% |
466,386,874 |
RMB ordinary shares |
| Foresea Life Insurance Co., Ltd. - Universal Insurance Products |
3.86% |
118,425,007 |
RMB ordinary shares |
| Foresea Life Insurance Co., Ltd. - Own Fund |
2.11% |
64,765,161 |
RMB ordinary shares |
| China Galaxy International Securities (Hong Kong) Co., Limited |
1.34% |
41,034,578 |
Domestically listed foreign shares |
| China Merchants Securities (Hong Kong) Limited |
1.12% |
34,378,997 |
Domestically listed foreign shares |
| China Life Insurance Co., Ltd. - Traditional - General Insurance Products - 0051-ct001 Shen |
0.96% |
29,385,159 |
RMB ordinary shares |
| Hong Kong Securities Clearing Co., Ltd. |
0.81% |
24,797,228 |
RMB ordinary shares |
| VANGUARD EMERGING MARKETS STOCK INDEX FUND |
0.64% |
19,595,573 |
Domestically listed foreign shares |
| Zhongshan Runtian Investment Co., Ltd. |
0.62% |
18,983,447 |
RMB ordinary shares |
| VANGUARD TOTAL INTERNATIONAL STOCK INDEX FUND |
0.57% |
17,537,213 |
Domestically listed foreign shares |
Shareholder Relationships
- Foresea Life Insurance Co., Ltd. - HailiNiannian, Universal Insurance Products, and Own Fund are all held by Foresea Life Insurance Co., Ltd.
- Zhongshan Runtian Investment Co., Ltd. is owned by Shenzhen Jushenghua Co., Ltd. (51% equity)
- Chengtai Group Co., Ltd. holds 40,187,904 shares through China Galaxy International Securities (Hong Kong) Co., Limited.
Other Important Matters
1. Public Issuance of Corporate Bonds
- Approved by the 2017 and 2019 Extraordinary General Meetings
- Total issue amount: up to RMB 2 billion
- Term: up to 10 years
- Issued on March 24 and 25, 2020
- Redemption and delisting completed on March 27, 2023
2. Guarantee Situation
- Total guarantee amount for 2022: up to RMB 16,268 million
- Actual guarantee balance as of March 31, 2023: RMB 4,674.94 million
- No overdue guarantees
3. Public Issuance of A-Share Convertible Corporate Bonds
- Approved by the 2022 Extraordinary General Meeting
- Total amount raised: up to RMB 2.8 billion
- Term: 6 years
4. Passive Reduction of Southern Glass A Shares by Zhongshan Runtian Investment Co., Ltd.
- Shares reduced from 86,633,447 to 18,983,447
- Shareholding ratio decreased from 2.82% to 0.62%
5. Lawsuits
- Case 1: Infringement compensation lawsuit for RMB 171 million special fund
- Filed on December 15, 2021
- Accepted by Shenzhen Intermediate People's Court on January 28, 2022
- First trial completed on June 21, 2022, awaiting judgment
- Case 2: Lawsuit by Zhongshan Runtian over 2022 Extraordinary Shareholders' Meeting resolution
- Filed on September 2022
- First trial on February 10, 2023, awaiting judgment
6. Increase in Shareholding by Shenzhen Guanlong Logistics Co., Ltd.
- Increased holdings by 160,000 shares on March 17, 2023
- Proportion: 0.0052%
- Plans to increase holdings of unrestricted A-shares by at least 5% within 6 months
Quarterly Financial Statements
Consolidated Balance Sheet (March 31, 2023)
- Total Assets: 25,637,078,162 RMB
- Total Liabilities: 11,870,781,410 RMB
- Total Owner's Equity: 13,766,296,752 RMB
- Legal Representative: Chen Lin
- Responsible for Accounting: Wang Wenxin
- Principal of Financial Department: Wang Wenxin
Consolidated Income Statement
- Total Operating Revenue: 4,070,673,784 RMB
- Total Business Cost: 3,635,165,242 RMB
- Research and Development Expenses: 161,274,469 RMB (up 44%)
- Other Income: 24,951,873 RMB (down 48%)
- Investment Income: 756,383 RMB (down 91%)
- Credit Impairment Loss: -9,860,184 RMB (up 124%)
- Non-Operating Income: 7,959,666 RMB (up 380%)
- Non-Operating Expenses: 378,246 RMB (down 86%)
Key Notes
- The company confirmed the authenticity, accuracy, and completeness of the report.
- The reduction in monetary funds was due to the redemption of matured corporate bonds.
- The increase in notes receivable was due to pledged invoicing.
- The increase in accounts receivable was mainly due to the photovoltaic glass business.
- The decrease in net cash flow from operating activities was significant.
- The company has no overdue guarantees and is actively managing its financial and legal obligations.
