[一季报]ST晨鸣B(200488):2026年一季度报告（英文版）

 时间：2026年04月30日 19:31:33 中财网

原标题:ST晨鸣B:2026年一季度报告（英文版）

SHANDONGCHENMINGPAPERHOLDINGSLIMITED
2026FirstQuarterlyReport
TheCompanyandwholemembersoftheBoardguaranteethattheinformationdisclosedistrue,accurateandcomplete,andtherearenoanyfictitiousrecords,misleadingstatementsorimportantomissions.IMPORTANTNOTICE:
1.TheBoard,thedirectors(the“Directors”),andseniormanagement(the“SeniorManagement”)herebywarrantthetruthfulness,accuracyandcompletenessofthisquarterlyreportwhichdoesnotcontainanyfalserepresentation,misleadingstatementormaterialomission,andarejointlyandseverallyresponsiblefortheliabilitiesoftheCompany.
2.TheheadoftheCompany,theheadinchargeofaccounting,andtheheadoftheaccountingdepartment(Accounting Officer), declare that they warrant the truthfulness, accuracy and completeness of thefinancialinformationinthisquarterlyreport.
3.Hasthefirstquarterlyreportalreadybeenauditedyet?
□Yes??No
(i) Majoraccountingdataandfinancialindicators
RetrospectiveadjustmenttoorrestatementoftheaccountingdataforprioryearsbytheCompany□Yes??No

　Thereporting periodThecorresponding periodoftheprior yearIncrease/decreaseduring thereportingperiod comparedtothe correspondingperiodof theprioryear(%)
Revenue(RMB)2,981,106,295.86797,157,638.89273.97%
Netprofitattributabletoshareholders oftheCompany(RMB)-512,471,075.82-1,451,634,120.4764.70%
Netprofitafterextraordinarygainsor lossesattributabletoshareholdersofthe Company(RMB)-587,285,923.37-1,461,511,392.2559.82%
Netcashflowsfromoperatingactivities (RMB)25,641,488.50530,619,916.12-95.17%
Basicearningspershare(RMBpershare)-0.17-0.4965.31%
Dilutedearningspershare(RMBper share)-0.17-0.4965.31%
Rateofreturnonweightedaveragenet assets-77.63%-17.22%Decreaseof60.41percentage points
　Asattheendofthe reportingperiodAsattheendof theprioryearIncrease/decreaseasatthe endofthereportingperiod comparedtotheendofthe prioryear(%)
Totalassets(RMB)51,116,007,147.6250,620,148,908.130.98%
Owners’equityattributableto shareholdersoftheCompany(RMB)416,532,045.46903,835,592.13-53.92%
(ii) Itemsandamountsofextraordinarygainsorlosses
?Applicable?□NotApplicable

ItemAmountforthe reportingperiodExplanation
Profitorlossfromdisposalofnon-currentassets(includingwrite-offof assetimpairmentprovision)-2,808,213.67　
Governmentgrants(exceptforthegovernmentgrantscloselyrelatedto theordinarycourseofbusinessoftheCompany,grantedinaccordance withanestablishedstandardandhavinganongoingeffectonthe Company’sprofitorlossincompliancewithnationalpoliciesand regulations)accountedforinprofitorlossforthecurrentperiod13,814,264.74　
Exceptforeffectivehedgingbusinessconductedintheordinarycourseof businessoftheCompany,gainorlossarisingfromthechangeinfair valueoffinancialassetsandfinancialliabilitiesheldbyanon-financial company,aswellasgainorlossarisingfromdisposalofitsfinancial assetsandfinancialliabilities65,784,864.77　
Othernon-operatingincomeandexpensesotherthantheaboveitems271,860.04　
Less:Effectofincometax1,590,840.77　
Effectofminorityinterests(aftertax)657,087.56　
Total74,814,847.55－
Detailsofothergainorlossitemsthatfallwithinthedefinitionofextraordinarygainorloss:□Applicable??NotApplicable
TheCompanydidnothavedetailsofothergainorlossitemsthatfallwithinthedefinitionofextraordinarygainorloss.
ExplanationontheextraordinarygainorlossitemsasillustratedintheExplanatoryAnnouncementon Information Disclosure for Companies Offering Their Securities to the Public No.1 –ExtraordinaryGainsorLossesdefinedasitsrecurringgainorlossitems?Applicable?□NotApplicable

ItemAmountinvolved (RMB)Reason
Otherincome13,536,886.33Governmentgrantsrelatedtoassetsandcloselyrelatedtotheordinary courseofbusinessoftheCompanyasrecurringgainorlossduetothe inclusionoftheirsubsequentamortisationinotherincomeandtheir ongoingeffectontheCompany’sprofitorloss.
(iii) Detailsandreasonsforchangesinmajoraccountingfiguresandfinancialindicators?Applicable?□NotApplicable
1. AnalysisofassetsandliabilitiesoftheCompany

Item31March202631December2025ChangeReason forchange
Billsreceivable1,079,504,607.58793,939,333.8335.97%(1)
Accountsreceivablefinancing62,989,290.5635,978,138.4575.08%(2)
Prepayments394,668,202.05281,930,888.0739.99%(3)
Non-currentliabilitiesduewithinoneyear1,585,617,493.342,313,171,903.83-31.45%(4)
Long-termpayables2,052,847,123.831,685,368,809.5021.80%(5)
Explanationofthereasonsleadingtothemajorchanges:
(1) Billsreceivableincreasedby35.97%ascomparedtothebeginningoftheyear,mainlyduetoanincreaseinbillsthathadbeenendorsedanddiscountedbuthadnotyetmaturedandcouldnotbederecognisedasattheendofthereportingperiod.
(2) Accountsreceivablefinancingincreasedby75.08%ascomparedtothebeginningoftheyear,mainlyduetoanincreaseinbillsheldbytheCompanyfrom20reputablebanksasattheendofthereportingperiod.
(3) Prepaymentsincreasedby39.99%ascomparedtothebeginningoftheyear,mainlyduetoanincreaseinprepaymentstosuppliersasattheendofthereportingperiod.(4) Non-current liabilities due within one year decreased by 31.45% as compared to thebeginningoftheyear,mainlyduetosomeextendedlong-termborrowingsduewithinoneyearbeingreclassifiedtolong-termborrowingsduringthereportingperiod.2. Reasonsforsignificantyear-on-yearchangesofincomestatementitemsduringthereportingperiod
Unit:RMB

ItemJanuary–March2026January–March2025ChangeReasonforchange
Revenue2,981,106,295.86797,157,638.89273.97%(1)
Operatingcosts3,237,966,713.351,848,770,365.2575.14%(2)
Taxesandsurcharges49,408,983.9928,767,883.7671.75%(3)
Investmentincome78,350,893.74-51,022,453.51253.56%(4)
Creditimpairmentloss12,937,655.39-169,366,185.66-107.64%(5)
Netprofitattributableto shareholdersoftheCompany-512,471,075.82-1,451,634,120.4764.70%(6)
Explanationofthereasonsleadingtothemajorchanges:
(1) Revenueincreasedby273.97%ascomparedtothecorrespondingperiodoftheprioryear,mainlyduetoanincreaseinsalesofmachine-madepaperwithayear-on-yearincreaseinrevenueresultingfromthefullresumptionofoperationandproductionduringthereportingperiod.
(2) Operatingcostsincreasedby75.14%ascomparedtothecorrespondingperiodoftheprioryear,mainlyduetoanincreaseinsalesofmachine-madepaperwithayear-on-yearincreaseinoperatingcostsresultingfromthefullresumptionofoperationandproductionduringthereportingperiod.
(3) Taxesandsurchargesincreasedby71.75%ascomparedtothecorrespondingperiodoftheprioryear,mainlyduetoanincreaseinrevenuewithayear-on-yearincreaseintaxesandsurchargesresultingfromthefullresumptionofoperationandproductionduringthereportingperiod.
(4) Investmentincomeincreasedby253.56%ascomparedtothecorrespondingperiodoftheprioryear,mainlyduetoayear-on-yearincreaseininvestmentincomerecognisedfrominvesteesduringthereportingperiod.
(5) Creditimpairmentlossdecreasedby107.64%ascomparedtothecorrespondingperiodoftheprioryear,mainlyduetoadecreaseintheprovisionforbaddebtsonreceivablesduringthereportingperiod.
(6) NetprofitattributabletoshareholdersoftheCompanyincreasedby64.70%ascomparedtothecorrespondingperiodoftheprioryear,mainlyduetoadecreaseinlossfromsuspendedoperationsandayear-on-yearincreaseintheproductionandsalesofmachine-madepaperandgross profit resulting from the full resumption of operation and production during thereportingperiod.
3. Analysisofcashflowsduringthereportingperiod

ItemJanuary–March2026January–March2025ChangeReasonforchange
Netcashflowsfromoperating activities25,641,488.50530,619,916.12-95.17%(1)
Netcashflowsfrominvesting activities-9,740,207.62-498,084,031.1398.04%(2)
Netcashflowsfromfinancing activities-9,937,678.04-116,313,497.7191.46%(3)
correspondingperiodoftheprioryear,mainlyduetoanincreaseinexpensesonprocurementofrawmaterialsresultingfromthefullresumptionofoperationandproduction.(2) Net cash flows from investing activities increased by 98.04% as compared to thecorrespondingperiodoftheprioryear,mainlyduetotherepurchaseofaportionoftheequityinterestinasubsidiaryfromaminorityshareholderduringthecorrespondingperiodoftheprioryear.
(3) Net cash flows from financing activities increased by 91.46% as compared to thecorrespondingperiodoftheprioryear,mainlyduetomultiplemeasures,includinginterestratereductionsandextensionsformaturingloansbymajorfinancialinstitutions,beingtakentomitigatedebtrisksduringthereportingperiod.
II. INFORMATIONONSHAREHOLDERS
(i) TotalnumberofshareholdersofordinarysharesandshareholdersofpreferenceshareswithrestoredvotingrightandtheshareholdingofthetoptenshareholdersUnit:share

Totalnumberofordinary shareholdersasattheendofthe reportingperiod100,180,ofwhich83,920 wereholdersofAshares, 15,949wereholdersofB sharesand311wereholders ofHsharesTotalnumberofholdersofpreference shareswithrestoredvotingrightasat theendofthereportingperiod0　　　
Shareholdingsofthetoptenshareholders(excludingtheshareslentunderrefinancingbusiness)　　　　　　
NameofshareholderNatureof shareholderPercentage of Shareholdi ngNumberof sharesheldNumberof restricted sharesheldSharepledged, markedorlocked-up　
　　　　　Statusof sharesNumber
CHENMINGHOLDINGS COMPANYLIMITEDState-owned legalperson15.50%455,781,3190Pledged386,811,546
　　　　　Locked-up409,956,441
HKSCCNOMINEES LIMITEDOverseaslegal person12.70%373,424,0250　　
CHENMINGHOLDINGS (HONGKONG)LIMITED (Note1)Overseaslegal person12.38%364,131,5630　　
JinXingDomestic naturalperson1.28%37,768,2150　　
ChenHongguo(Note2)Domestic naturalperson0.65%19,080,0440Locked-up19,080,044
LiMinghaiDomestic naturalperson0.34%10,033,1010　　
EFUND(HK)CHINA EQUITYDIVIDENDFUNDOverseaslegal person0.34%9,999,9480　　
BANKOFCHINALIMITED– EFUNDSTOCKCONNECT HIGHDIVIDENDFLEXIBLE ALLOCATIONHYBRID SECURITIESINVESTMENT FUNDOthers0.31%9,206,3500　　
JiZhongqiuDomestic naturalperson0.29%8,409,1740　　
XuHekunDomestic naturalperson0.28%8,380,2500　　
　　　　　　　
　Numberof non-restricted sharesheldClassandnumberofshares　　　　
　　ClassofsharesNumber　　　
　455,781,319RMBordinaryshares455,781,319　　　
　373,424,025Overseaslistedforeign shares373,424,025　　　
　364,131,563Domesticlistedforeign shares210,717,563　　　
　　Overseaslistedforeign shares153,414,000　　　
　37,768,215Domesticlistedforeign shares37,768,215　　　
　19,080,044RMBordinaryshares19,080,044　　　
　10,033,101RMBordinaryshares10,033,101　　　
　9,999,948Domesticlistedforeign shares9,999,948　　　
　9,206,350RMBordinaryshares9,206,350　　　
　8,409,174RMBordinaryshares8,409,174　　　
　8,380,250Domesticlistedforeign shares8,380,250　　　
　Ashareholder,ChenmingHoldings(HongKong)Limited,whichisan overseaslegalperson,isawholly-ownedsubsidiaryofashareholder, ChenmingHoldingsCompanyLimited,whichisastate-ownedlegal person.Savefortheabove,itisnotawarethatanyothershareholders oftradablesharesarepersonsactinginconcert.Itisalsonotawarethat anyothershareholdersoftradablesharesarerelatedtoeachother.　　　　　
　ChenmingHoldingsCompanyLimitedheld455,781,319RMB ordinaryshares,ofwhich409,956,441shareswereheldthrough ordinaryaccountand45,824,878shareswereheldthroughcredit guaranteesecurityaccount.　　　　　
Note 1: Inordertomeetitsowncapitalneeds,ChenmingHoldings(HongKong)Limitedconductedsharefinancingbusiness with overseas institutions, entrusting 210,717,563 B shares and 153,414,000 H shares of the
Companyheldbyittothecustodybrokeragedesignatedbyoverseasinstitutions.Theaforesaidsharesweresubjecttotheriskofnottoberecovered,whichmayleadtoareductionintheCompany’sshareholding,butdoesnotaffectChenmingHoldings’positionasthelargestshareholder,anddoesnotaffecttheCompany’scontrol.Fordetails,pleaserefertotheannouncementdisclosedbytheCompanyonCNINFOon18July2023(announcementno.:2023-058)andtheinsiderinformationdisclosedbytheCompanyonthewebsiteofHongKongStockExchangeon18July2023.
Note 2: On1November2024,pursuanttothe2020RestrictedAShareIncentiveScheme(Draft)(the“Scheme”),theforthetransferandcancellationofsuchrestrictedshareswerenotyetcompletedwiththeShenzhenBranchofChinaSecuritiesDepositoryandClearingCorporationLimited.The19,080,044sharesheldbyMr.ChenHongguo,beingadomesticnaturalperson,excludesthe6,000,000restrictedsharestobecancelledundertheshareincentivescheme.
Share lending by shareholders interested in more than 5%, top 10 shareholders and top 10shareholdersofnon-restrictedsharesunderrefinancingbusiness
□Applicable??NotApplicable
Changes of top 10 shareholders and top 10 shareholders of non-restricted shares due tolending/returningofsharesunderrefinancingbusinessascomparedtopriorperiod□Applicable??NotApplicable
(ii) Total number of shareholders of preference shares and shareholding of the top tenshareholdersofpreferenceshares
□Applicable??NotApplicable
III OTHERMATERIALMATTERS
?Applicable?□NotApplicable
1. FullresumptionofoperationandproductionacrossproductionbasesDuringthereportingperiod,adheringtothe“safety-first,efficiency-focused,andbenefit-driven”principle, the Company strengthened corporate management and coordinated efforts in theresumptionofoperationandproductionacrossitsproductionbases.ThecadresandemployeesofZhanjiangChenmingworkedinclosecollaborationwiththeteamswhichsupportedtheGrouptoovercomechallenges,efficientlycompletingtaskssuchasfundraising,equipmentmaintenance,securingrawmaterialsandconnectingmarkets,therebysuccessfullyachievingthefullresumptionofoperationandproductionattheZhanjiangproductionbase.Consequently,theCompany’sfivemajorproductionbasesinShouguang,Zhanjiang,Huanggang,Jiangxi,andJilinhaveallresumedfullproductionwithoverallproductioncapacityrestoredto100%.Movingforward,theCompanywillcontinuetodeepenend-to-endcostreductionandefficiencyenhancement,accelerateall-roundnewproductresearchanddevelopment,andcoordinateeffortsinproductionandoperations,reformandinnovation,andteambuilding.TheCompanyiscommittedtoenhancingoperationalefficiency,steadilymitigatingdebtrisks,anddrivingtheCompanytowardssustainable,stableandhigh-qualitydevelopment.
Fordetails,pleaserefertotherelevantannouncementdisclosedbytheCompanyonCNINFOon14March2026(AnnouncementNo.:2026-004)andtheannouncementdisclosedonthewebsiteofHongKongStockExchangeon16March2026.
IV. QUARTERLYFINANCIALSTATEMENTS
(i) FinancialStatements
1. ConsolidatedBalanceSheet
Preparedby:ShandongChenmingPaperHoldingsLimited
31March2026

ItemClosingbalanceOpeningbalance
CURRENTASSETS:　　
Monetaryfunds220,991,963.89210,398,721.95
Financialassetsheldfortrading31,933,124.2038,791,121.74
Billsreceivable1,079,504,607.58793,939,333.83
Accountsreceivable736,966,072.30742,744,136.20
Accountsreceivablefinancing62,989,290.5635,978,138.45
Prepayments394,668,202.05281,930,888.07
Otherreceivables301,712,596.68302,065,195.40
Including:Interestreceivable––
Dividendreceivable––
Inventories3,708,591,352.943,316,198,760.70
Including:Dataresources––
Non-currentassetsduewithinoneyear176,822,256.37194,204,719.66
Othercurrentassets291,695,386.01252,296,160.14
Totalcurrentassets7,005,874,852.586,168,547,176.14
NON-CURRENTASSETS:　　
Long-termreceivables2,354,529,596.222,338,612,032.26
Long-termequityinvestments2,174,903,334.992,095,953,345.27
Othernon-currentfinancialassets327,669,610.80327,934,626.32
Investmentproperty5,354,982,395.765,402,063,721.57
Fixedassets28,736,006,302.5329,219,679,495.81
Constructioninprogress627,953,264.85626,640,521.92
Bearerbiologicalassets1,873,537.131,873,537.13
Right-of-useassets150,503,716.95151,298,017.92
Intangibleassets1,591,856,828.551,603,982,531.66
Including:Dataresources––
Goodwill––
Long-termprepaidexpenses218,478,945.66232,398,577.62
Deferredincometaxassets2,135,572,276.332,032,088,838.62
Othernon-currentassets435,802,485.27419,076,485.89
Totalnon-currentassets44,110,132,295.0444,451,601,731.99
Totalassets51,116,007,147.6250,620,148,908.13
CURRENTLIABILITIES:　　
Short-termborrowings21,211,963,453.8521,227,831,812.02
Billspayable––
Accountspayable9,075,574,781.928,608,727,052.92
Receiptsinadvance58,544,130.7161,929,311.57
Contractliabilities282,548,125.41296,299,701.36
Employeebenefitspayable431,942,186.96369,594,500.65
Taxespayable190,837,490.05203,168,557.15
Otherpayables5,046,035,673.234,772,023,040.44
Including:Interestpayable510,597,022.80428,732,780.80
Dividendpayable217,544,565.81220,493,880.88
Non-currentliabilitiesduewithinoneyear1,585,617,493.342,313,171,903.83
Othercurrentliabilities1,353,206,061.261,539,511,608.24
Totalcurrentliabilities39,236,269,396.7339,392,257,488.18
NON-CURRENTLIABILITIES:　　
Long-termborrowings6,440,548,837.595,576,510,739.72
Leaseliabilities34,350,249.1034,350,249.10
Long-termpayables2,052,847,123.831,685,368,809.50
Provisions30,309,113.7128,234,945.73
Deferredincome1,058,894,930.271,084,582,814.76
Deferredincometaxliabilities5,141,967.055,667,037.66
Totalnon-currentliabilities9,622,092,221.558,414,714,596.47
Totalliabilities48,858,361,618.2847,806,972,084.65
OWNERS’EQUITY:　　
Sharecapital2,934,556,200.002,934,556,200.00
Capitalreserves5,241,279,229.795,241,279,229.79
Less:Treasuryshares––
Othercomprehensiveincome-891,783,684.76-915,388,419.92
Specialreserves40,106,064.3538,543,270.36
Surplusreserves1,212,009,109.971,212,009,109.97
Generalriskprovisions68,048,751.1068,048,751.10
Retainedprofit-8,187,683,624.99-7,675,212,549.17
TotalequityattributabletoownersoftheCompany416,532,045.46903,835,592.13
Minorityinterest1,841,113,483.881,909,341,231.35
Totalowners’equity2,257,645,529.342,813,176,823.48
Totalliabilitiesandowners’equity51,116,007,147.6250,620,148,908.13
LegalRepresentative: Headinchargeofaccounting: Headoftheaccountingdepartment:JiangYanshan ZhuYanli ZhangBo
2. ConsolidatedIncomeStatement

ItemAmountsfor theperiodAmountsfor thepriorperiod
I. Totalrevenue2,981,106,295.86797,157,638.89
Including:Revenue2,981,106,295.86797,157,638.89
II. Totaloperatingcosts3,781,529,473.002,515,509,988.10
Including:Operatingcosts3,237,966,713.351,848,770,365.25
Taxesandsurcharges49,408,983.9928,767,883.76
Salesanddistributionexpenses30,444,387.3222,084,941.73
Generalandadministrativeexpenses107,990,910.19145,684,491.27
Researchanddevelopmentexpenses32,668,432.9120,606,883.01
Financeexpenses323,050,045.24449,595,423.08
Including:Interestexpenses319,720,532.72428,852,888.40
Interestincome1,949,830.5515,131,606.70
Add:Otherincome35,458,271.2828,988,522.59
Investmentincome(“-”denotesloss)78,350,893.74-51,022,453.51
Including:Investmentincomefromassociatesand jointventures79,199,989.71-34,186,003.21
Gainsonderecognitionoffinancialassetsmeasuredat amortisedcost-1,268,119.55-2,627,145.34
Gainonchangeinfairvalue?(“-”denotesloss)-6,261,055.49-559,024.11
Creditimpairmentloss(“-”denotesloss)12,937,655.39-169,366,185.66
Lossonimpairmentofassets(“-”denotesloss)-2,233,604.32-258,144.26
Gainondisposalofassets(“-”denotesloss)-2,260,721.446,799,844.29
III. Operatingprofit(“-”denotesloss)-684,431,737.98-1,903,769,789.87
Add:Non-operatingincome414,818.34514,861.10
Less:Non-operatingexpenses690,450.53-879,437.37
IV. Totalprofit(“-”denotestotalloss)-684,707,370.17-1,902,375,491.40
Less:Incometaxexpenses-104,008,546.88-252,932,461.40
V. Netprofit(“-”denotesnetloss)-580,698,823.29-1,649,443,030.00
(I)Classificationaccordingtothecontinuityofoperation　　
1.Netprofitfromcontinuingoperations(“-”denotes netloss)-580,698,823.29-1,649,443,030.00
2.Netprofitfromdiscontinuedoperations(“-”denotes netloss)––
(II)Classificationaccordingtoownership　　
1.NetprofitattributabletoownersoftheCompany-512,471,075.82-1,451,634,120.47
2.Profitorlossofminorityinterest-68,227,747.47-197,808,909.53
VI. Netothercomprehensiveincomeaftertax23,604,735.16-148,396.89
Netothercomprehensiveincomeaftertaxattributableto ownersoftheCompany23,604,735.16-148,396.89
(I)Othercomprehensiveincomethatcannotbereclassified toprofitorloss––
(II)Othercomprehensiveincomethatwillbereclassifiedto profitorloss23,604,735.16-148,396.89
1.Exchangedifferencesarisingfromtranslationof financialstatementsdenominatedinforeigncurrencies23,604,735.165,639,441.30
2.Othercomprehensiveincomethatmaybe reclassifiedtoprofitorlossundertheequitymethod–-5,787,838.19
Othercomprehensiveincome,netof taxattributableto minorityinterest––
VII. Totalcomprehensiveincome-557,094,088.13-1,649,591,426.89
(I)Totalcomprehensiveincomeattributabletoownersofthe-488,866,340.66-1,451,782,517.36
Company　　
(II)Totalcomprehensiveincomeattributabletominority interest-68,227,747.47-197,808,909.53
VIII. Earningspershare:　　
(I)Basicearningspershare-0.17-0.49
(II)Dilutedearningspershare-0.17-0.49
LegalRepresentative: Headinchargeofaccounting: Headoftheaccountingdepartment:JiangYanshan ZhuYanli ZhangBo
3. Consolidatedcashflowstatement

ItemAmountsfor theperiodAmountsfor thepriorperiod
I. Cashflowsfromoperatingactivities:　　
Cashreceivedfromsalesofgoodsandrenderingofservices3,222,761,664.931,311,767,420.34
Taxrebatesreceived––
Cashreceivedrelatingtootheroperatingactivities11,786,502.73237,170,805.14
Subtotalofcashinflowsfromoperatingactivities3,234,548,167.661,548,938,225.48
Cashpaidforgoodsandservices2,786,774,484.83636,140,517.85
Cashpaidtoandforemployees186,529,392.34271,766,022.65
Paymentsoftaxesandsurcharges110,309,705.6437,840,265.29
Cashpaidrelatingtootheroperatingactivities125,293,096.3572,571,503.57
Subtotalofcashoutflowsfromoperatingactivities3,208,906,679.161,018,318,309.36
Netcashflowsfromoperatingactivities25,641,488.50530,619,916.12
II. Cashflowsfrominvestingactivities:　　
Cashreceivedfrominvestments265,015.52–
Cashreceivedfrominvestmentsincome669,023.58–
Netcashreceivedfromdisposaloffixedassets,intangible assetsandotherlong-termassets2,219,153.2812,576,150.00
Netcashreceivedfromdisposalofsubsidiariesandother businessunits––
Cashreceivedrelatingtootherinvestingactivities––
Subtotalofcashinflowsfrominvestingactivities3,153,192.3812,576,150.00
Cashpaidforpurchaseoffixedassets,intangibleassetsand otherlong-termassets12,893,400.001,704,265.00
Cashpaidoninvestments––
Netcashpaidforacquisitionofsubsidiariesandother businessunits–508,955,916.13
Cashpaidrelatingtootherinvestingactivities––
Subtotalofcashoutflowsfrominvestingactivities12,893,400.00510,660,181.13
Netcashflowsfrominvestingactivities-9,740,207.62-498,084,031.13
III. Cashflowsfromfinancingactivities:　　
Cashreceivedfromcapitalcontributions––
Cashreceivedfromborrowings6,637,443,781.377,370,897,518.09
Cashreceivedrelatingtootherfinancingactivities–3,529,885,387.06
Subtotalofcashinflowsfromfinancingactivities6,637,443,781.3710,900,782,905.15
Cashrepaymentsofamountsborrowed6,472,569,941.7210,868,482,442.06
Cashpaidfordividendandprofitdistributionorinterest payment154,584,726.10133,997,815.85
Including:Dividendandprofitpaidbysubsidiariesto minorityshareholders2,949,315.07–
Cashpaidrelatingtootherfinancingactivities20,226,791.5914,616,144.95
Subtotalofcashoutflowsfromfinancingactivities6,647,381,459.4111,017,096,402.86
Netcashflowsfromfinancingactivities-9,937,678.04-116,313,497.71
IV. Effectofforeignexchangeratechangesoncashandcash equivalents-2,820,182.00-1,362,269.96
V. Netincreaseincashandcashequivalents3,143,420.84-85,139,882.68
Add:Balanceofcashandcashequivalentsasatthe beginningoftheperiod137,296,882.34151,943,246.31
VI. Balanceofcashandcashequivalentsasattheendofthe period140,440,303.1866,803,363.63
LegalRepresentative: Headinchargeofaccounting: Headoftheaccountingdepartment:JiangYanshan ZhuYanli ZhangBo（未完）
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