Ganfeng Lithium : INSIDE INFORMATION / OVERSEAS REGULATORY ANNOUNCEMENT - 2019 THIRD QUARTERLY REPORT

Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.

(A joint stock company incorporated in the People's Republic of China with limited liability)

(Stock Code: 1772)

INSIDE INFORMATION/

OVERSEAS REGULATORY ANNOUNCEMENT

2019 THIRD QUARTERLY REPORT

This announcement is made pursuant to the disclosure obligations under Rule 13.09(2) and 13.10B of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited.

SECTION 1 IMPORTANT NOTICE

The board of directors (the "Board") and the supervisory committee of Ganfeng Lithium Co., Ltd. (the "Company") as well as its directors, supervisors and senior management warrant the truthfulness, accuracy and completeness of the information contained in the quarterly report, and warrant that there are no false representations or misleading statements contained in or material omissions from this report and severally and jointly accept responsibility pursuant to such information.

All directors attended the meeting of the Board to consider the quarterly report.

Li Liangbin, chairman of the company, and Yang Manying, person in charge of the Company's accounting functions, and Lin Kui, the head of the Company's accounting department, have declared that they guarantee the truthfulness, accuracy and completeness of the financial statements in the quarterly report.

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SECTION 2 COMPANY PROFILE

1. Major Accounting Data and Financial Indicators

Whether retroactive adjustments or restatements would be made by the Company to the accounting data for the previous years

• Yes No

Reasons for retroactive adjustments or restatements

Change in accounting policies

				Increase/
				decrease as
				at the end of
				the Reporting
				Period compared
				with the end of
	As at the end of	As at the end of the previous year	the previous year
	the Reporting	Before	After	After
	Period	adjustment	adjustment	adjustment
Total assets(RMB)	14,021,512,065.50	13,520,716,752.12	13,520,716,752.12	3.70%
Net assets attributable to shareholders of
the listed company(RMB)	8,117,522,202.72	7,923,643,764.61	7,923,643,764.61	2.45%

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								Increase/
								decrease for
								the beginning
				Increase/				of the year
				decrease for				till the end of
				the Reporting				the reporting
				Period				period
				compared				compared
				with the	From the			with the
				corresponding	beginning of			corresponding
		The corresponding	period of	the year till	The corresponding	period of
		period of last year	last year	the end of	period of last year	last year
	The Reporting	Before	After	After	the reporting	Before	After	After
	Period	adjustment	adjustment	adjustment	period	adjustment	adjustment	adjustment
Operating income(RMB)	1,388,092,945.70	1,261,695,745.73	1,261,695,745.73	10.02%	4,210,504,096.79	3,593,501,018.05	3,593,501,018.05	17.17%
Net profit attributable to	33,376,530.24	269,462,768.59	246,837,344.77	-86.48%	329,165,317.99	1,106,531,679.81	972,364,084.38	-66.15%
shareholders of the listed
company(RMB)
Net profit attributable to	203,722,435.11	277,018,288.13	281,893,008.04	-27.73%	583,879,202.53	970,213,862.01	975,920,059.05	-40.17%
shareholders of the listed
company after deduction of
non-recurring gains and losses
(RMB)
Net cash flow from operating	33,228,755.48	144,769,426.58	144,769,426.58	-77.05%	227,617,242.19	111,751,982.93	111,751,982.93	103.68%
activities(RMB)
Basic earnings per share	0.03	0.25	0.22	-86.36%	0.25	1.01	0.86	-70.93%
(RMB/share)
Diluted earnings per share	0.03	0.24	0.22	-86.36%	0.25	1.00	0.86	-70.93%
(RMB/share)
Weighted average rate of	0.41%	6.01%	5.16%	-4.75%	4.05%	24.66%	20.33%	-16.28%
return on net assets

Reasons for changes in accounting policies and correction of accounting errors

On December 29, 2018, the Company disclosed the announcement Lin 2018- 125 in relation to the changes in accounting policies on the Securities Times, Securities Daily and on the website of CNINFO (www.cninfo.com.cn). The financial department of the Company made corresponding accounting treatment according to relevant requirements upon the changes in accounting policies.

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Non-recurring gains and losses items and amounts
			Not applicable
✓	Applicable
						Unit: RMB
					Amount for
					the period from
					the beginning of
				the year to the end
					of the Reporting
Items			Period	Explanation
Gains or losses on disposal of non-current	-11,573,447.65
assets (including the written-off portion of
provisions for asset impairment)
Government grants (except for government	44,530,676.15	Mainly due to the receipt
grants which are closely related to the			of the government
corporate business and conform with the			grants related to
amount and quantities at a national unified			revenue.
standard) charged to gains or losses for the
current period
Other non-operating income and expenses	-866,398.85
apart from the items stated above
Gain or loss from changes in fair value of	-287,376,580.39	Mainly due to loss from
financial assets				changes in fair value
						resulted from the
						decline of share prices
						of financial assets held
						by the Company.
Less: Effect on income tax		-571,866.20
Total		-254,713,884.54	-

Notes for the Company's non-recurring gains or losses items as defined in the Explanatory Announcement on Information Disclosure for Companies Offering Their Securities to the Public No.1 - Non-recurring Gains or Losses and the non- recurring gains or losses items as illustrated in the Explanatory Announcement on Information Disclosure for Companies Offering Their Securities to the Public No.1 - Non-recurring Gains or Losses defined as its recurring gains or losses items

Applicable

✓ Not applicable

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During the Reporting Period, no non-recurring gains or losses items as defined and illustrated in the Explanatory Announcement on Information Disclosure for Companies Offering Their Securities to the Public No.1 - Non-recurring Gains or Losses were defined as recurring gains or losses items.

1. Total number of shareholders and shareholdings of top ten shareholders as at the end of the reporting period

1. Number of ordinary shareholders and preferred shareholders with voting rights resumed and shareholdings of the top ten shareholders

					Unit: Shares
Total number of	165,626 (A shares),	Total number of preferred	0
ordinary shareholders	29 (H shares)	shareholders with voting
at the end of the			rights resumed at the end
reporting period			of the reporting period (if
			any)
Shareholdings of the top ten shareholders
				Number of		Shares
				shares held	pledged or frozen
Name of	Nature of	Proportion of	Number of	subject to	Status of
shareholders	shareholders	shareholding	shares held	lock-up	shares	Number
Li Liangbin	Domestic natural	20.87%	269,770,452	202,327,839	Pledged	135,760,000
	person
HKSCC NOMINEES LIMITED	Foreign legal	15.49%	200,166,400	0
	person
Wang Xiaoshen	Domestic natural	7.81%	100,898,904	75,674,178	Pledged	4,863,000
	person
Hong Kong Securities Clearing	Domestic natural	1.08%	13,921,171	0
Company Limited	person
Shen Haibo	Domestic natural	1.07%	13,823,568	10,255,176	Pledged	7,050,000
	person
Industrial and Commercial Bank	Other	0.96%	12,424,952	0
of China Limited-Hua'an
Media & Internet Mixed
Securities Investment Fund
(中國工商銀行股份有限
公司－華安媒體互聯網
混合型證券投資基金)
Cao Zhiang	Domestic natural	0.91%	11,710,000	0
	person

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				Number of		Shares
				shares held	pledged or frozen
Name of	Nature of	Proportion of	Number of	subject to	Status of
shareholders	shareholders	shareholding	shares held	lock-up	shares	Number
Huang Wen	Domestic natural	0.88%	11,316,210	0
	person
Agricultural Bank of China	Other	0.47%	6,112,995	0
Limited-Hua'an Intelligent
Life Mixed Securities
Investment Fund (中國農業
銀行股份有限公司－華安
智能生活混合型證券投資
基金)
Xiong Jianlang	Domestic natural	0.45%	5,837,160	0	Pledged	1,499,994
	person

Shareholdings of top ten shareholders holding shares without lock-up

	Number of shares
	held without	Class of shares
Name of shareholders	lock-up	Class of shares	Number
HKSCC NOMINEES LIMITED	200,166,400	Overseas listed foreign	200,166,400
		shares
Li Liangbin	67,442,613	Renminbi denominated	67,442,613
		ordinary shares
Wang Xiaoshen	25,224,726	Renminbi denominated	25,224,726
		ordinary shares
Hong Kong Securities Clearing Company Limited	13,921,171	Renminbi denominated	13,921,171
		ordinary shares
Industrial and Commercial Bank of China Limited-	12,424,952	Renminbi denominated	12,424,952
Hua'an Media & Internet Mixed Securities Investment		ordinary shares
Fund (中國工商銀行股份有限公司－華安媒體
互聯網混合型證券投資基金)
Cao Zhiang	11,710,000	Renminbi denominated	11,710,000
		ordinary shares
Huang Wen	11,316,210	Renminbi denominated	11,316,210
		ordinary shares

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	Number of shares
	held without	Class of shares
Name of shareholders	lock-up	Class of shares	Number
Agricultural Bank of China Limited-Hua'an Intelligent	6,112,995	Renminbi denominated	6,112,995
Life Mixed Securities Investment Fund (中國農業銀		ordinary shares
行股份有限公司－華安智能生活混合型證券
投資基金)
Xiong Jianlang	5,837,160	Renminbi denominated	5,837,160
		ordinary shares
Agricultural Bank of China Limited-Wanjia Quality Life	5,411,235	Renminbi denominated	5,411,235
Flexible Configuration Mixed Securities Investment		ordinary shares
Fund (中國農業銀行股份有限公司- 萬家品質
生活靈活配置混合型證券投資基金)

Explanation of the connected relationships or concerted 1. The Company's de facto controller, Mr. Li Liangbin's family have

actions for the above-mentioned shareholders no connected relation with the other top ten shareholders, and they are also not the concerted action person defined under "Measures for the Administration of Disclosure of Shareholder Equity Changes of Listed Companies";

Explanation of top ten shareholders involved in securities margin trading business (if any)

2. The Company is not aware of any of the other top ten shareholders who have connected relationships or are acting in concert.

None

Whether top ten ordinary shareholders or top ten ordinary shareholders who are not subject to lock-up restriction of the Company carried out any agreed buy-back transactions during the reporting period

Yes

✓ No

No agreed buy-back transaction was carried out by top ten ordinary shareholders or top ten ordinary shareholders who are not subject to lock-up restriction of the Company during the reporting period.

2. Total number of preferred shareholders of the Company and the shareholdings of the top ten preferred shareholders

Applicable

✓ Not applicable

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SECTION 3 SIGNIFICANT ISSUES

1. Circumstances for changes in major financial data and financial indicators and the reasons thereof during the Reporting Period

✓	Applicable			Not applicable
				Balance at	Balance at
				the end of	the beginning of	Percentage
Balance Sheet Items			the period	the period	of changes	Reasons for changes
Monetary fund	2,021,879,895.70	3,602,340,290.70	-43.87%	The change was mainly because
							the raised funds was used for
							investment projects during
							this period, resulting in the
							corresponding decrease in
							monetary fund;
Financial assets held	125,395,623.94	192,782,045.08	-34.95%	The change was mainly due
for trading						to the redemption of wealth
							management products
							matured in the period;
Prepayments	409,240,847.76	309,713,264.41	32.14%	The change was mainly due to
							the increase in prepayments
							for construction-in-progress
							projects;
Other receivables	20,650,238.93	348,278,537.35	-94.07%	The change was mainly due to
							the recovery of the deposit
							for bidding for the project in
							Haixi, Qinghai during this
							period;
Long-term equity	3,347,584,457.93	1,735,529,953.94	92.89%	The change was mainly due to
investments						the increase in equity interest
							of RIM and ME held by the
							Company during this period;
Construction in progress	895,447,406.54	1,097,593,245.01	-18.42%	The change was mainly due
							to the conversion of a
							construction project into

fixed assets, resulting in the corresponding decrease in construction in progress;

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	Balance at	Balance at
	the end of	the beginning of	Percentage
Balance Sheet Items	the period	the period	of changes	Reasons for changes
Development expenses	36,473,856.88	24,911,541.74	46.41%	The change was mainly
				due to the increase in the
				investment in research and
				development projects;
Other non-current assets	933,821,339.98	424,768,482.37	119.84%	The change was mainly
				due to the increase in
				financial assistance in the
				development of Cauchari-
				Olaroz project;
Short-term borrowings	2,010,324,830.02	1,320,844,856.00	52.20%	The change was mainly due
				to the increase in financing
				to guarantee production and
				operation;
Accounts payable	521,535,917.10	1,026,808,187.22	-49.21%	The change was mainly due to
				the corresponding decrease
				in accounts payable after the
				repayment of due amount by
				supplier;
Other payables	46,736,360.29	732,119,671.10	-93.62%	The change was mainly due
				to writing-down of other
				payables by the obligation of
				restricted shares repurchase
				after the repurchase of
				restricted shares for the share
				incentive scheme;
Non-current liabilities	437,586,524.51	35,490,560.00	1,132.97%	The change was mainly due
due within one year				to the increase in financing
				for investment in upstream
				resources;
Long-term borrowings	1,167,578,760.00	706,112,640.00	65.35%

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	From the beginning	For the
Income statement	of the year to the	corresponding	Percentage
items	reporting period	period of last year	of changes	Reasons for changes
Operating costs	3,204,182,776.79	2,211,373,251.14	44.90%	The change was mainly due to
				increase in operating costs
				caused by the increase in
				sales volume;
Selling expenses	79,765,588.22	50,176,495.64	58.97%	The change was mainly due
				to the increases in freight
				expense under selling
				expenses caused by the
				increase in sales volume;
Finance expenses	78,601,046.01	49,766,292.01	57.94%	The change was mainly due
				to the increase in interest
				expense;
Other revenue	44,530,676.15	141,655,665.55	-68.56%	The change was mainly due to
				the decrease in government
				grants received for the
				current period;
Investment income ("-"	134,831,743.27	92,417,205.89	45.89%	The change was mainly due to
denotes loss)				the increase in investment
				income from RIM;
Gain on change in fair	-294,535,012.64	-153,617,450.07	-91.73%	The change was mainly due
value ("-" denotes				to the loss from changes in
loss)				fair value as a result of the
				decline of share prices of
				financial assets held by the
				Company;
Impairment loss of credit	-4,850,097.14	11,651,877.42	-141.63%	The change was mainly due
("-" denotes loss)				to the increase in provision
				for bad debts of trade
				receivables;
Impairment loss of assets	1,806,079.96	6,714,294.99	-73.10%	The change was mainly
("-" denotes loss)				because the inventory made
				provision for impairment
				during the previous period
				was sold during this period,
				and impairment loss of assets
				was reversed accordingly;
Gains on disposal of	-11,573,447.65	-89,167.52	-12879.44%	The change was mainly due to
assets ("-" denotes				the disposal of the retired
loss)				fixed assets during this
				period;

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	From the beginning	The corresponding
Cash flow statement	of the year to the	period of the
items	reporting period	previous year
Net cash flow generated	227,617,242.19	111,751,982.93
from operating
activities
Net cash flow generated	-2,406,856,009.51	-709,188,240.39
from investing
activities
Net cash flow generated	905,487,742.30	-542,091,911.07
from financing
activities

Percentage
of changes	Reasons for changes
103.68%	The change was mainly due to
	the increase in cash received
	from selling goods and
	providing services;
-239.38%	The change was mainly due to
	the increase in cash paid for
	investment;
267.04%	The change was mainly due to
	the increase in cash received
	from borrowings;

1. Analysis and explanation of the progress of significant events and their effects and the solutions

✓ Applicable

Not applicable

1. The Resolution on Investment in Mining Rights Involved in the Acquisition of Certain Equity Interests in Minera Exar Company in Argentina by Netherland Ganfeng, a Wholly-owned Subsidiary of GFL International, and Related Party Transaction was considered and approved at the 31st meeting of the forth session of the Board convened on April 1, 2019 and the 2018 annual general meeting convened on June 11, 2019, pursuant to which Netherland Ganfeng, a wholly-owned subsidiary of GFL International, a wholly-owned subsidiary of the Company, was approved to subscribe for 141,016,944 new shares of Minera Exar with its self-owned funds of US$160,000,000. As at August 17, 2019, Netherland Ganfeng had completed the payment of consideration for the equity acquisition and the transfer of equity interests. Prior to completion of this transaction, Netherland Ganfeng held 37.5% equity interests in Minera Exar, and upon completion of this transaction, Minera Exar will be held as to 50% by Netherland Ganfeng and Lithium Americas, respectively. For details, please refer to the Announcement of Ganfeng Lithium on Investment in Mining Rights Involved in the Acquisition of Certain Equity Interests in Minera Exar Company in Argentina by Netherland Ganfeng, a Wholly-owned Subsidiary of GFL International, and Related Party Transaction (Announcement No.: Lin 2019-031) and the Announcement on the Progress of Investment in Mining Rights Involved in the Acquisition of Certain Equity Interests in Minera Exar Company in Argentina by Netherland Ganfeng, a Wholly- owned Subsidiary of GFL International, and Related Party Transaction (Announcement No.: Lin 2019-076) published by the Company on the Securities Times, Securities Daily and on the website of CNINFO (www. cninfo.com.cn) on April 2, 2019 and August 19, 2019.

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1. At the 35th meeting of the fourth session of the board of directors of the Company held on June 28, 2019, the Resolution in Relation to the Investment in Mining Rights by Acquisition of Certain Equity Interests in Bacanora and Sonora, a Subsidiary Engaged in Lithium-Clay Project was
   considered and approved, pursuant to which, the Company or its wholly- owned subsidiary -Ganfeng International Trade (Shanghai) Co., Ltd. ( 贛 鋒 國 際 貿 易（上 海）有 限 公 司) would subscribe for the new shares of Bacanora with its self-owned funds of £14,400,091 and invest in Sonora at the level of the project company with its self-owned funds of £7,563,649. As at October 21, 2019, Shanghai Ganfeng has completed the payment of consideration for the equity acquisition and the procedures for equity registration. Upon completion of the transaction, the Company or Shanghai Ganfeng holds no more than 29.99% equity interests in Bacanora and no more than 22.5% equity interests in Sonora. For details, please refer to the Announcement of Ganfeng Lithium on Investment in Mining Rights by Acquisition of Certain Equity Interests in Bacanora and Sonora, a Subsidiary Engaged in Lithium-Clay Project (Announcement No.: Lin 2019-062), and the Progress Announcement on Investment in Mining Rights by Acquisition of Certain Equity Interests in Bacanora and Sonora, a Subsidiary Engaged in Lithium-Clay Project of Ganfeng Lithium Co., Ltd. (Announcement No.: Lin
   2019-084) published by the Company on Securities Times, Securities Daily and the website of CNINFO ( 巨 潮 資 訊 網) on June 29, 2019 and October 22, 2019.
2. The Resolution on the Company's 2017 Restricted A Share Incentive Scheme (Draft) and Its Summary 《( 關 於 公 司<2017 年 限 制 性 股 票 激 勵 計 劃（草 案)>及 其 摘 要 的 議 案》), the Resolution on the Company's
   Administrative Measures for Appraisal System of the 2017 Restricted A Share Incentive Scheme 《( 關 於 公 司<2017 年 限 制 性 股 票 激 勵 計 劃 實 施 考 核 管 理 辦 法> 的 議 案》) and the Resolution on the Authorization
   of the Board of Directors at the General Meeting to Handle Matters Related to the 2017 Restricted A Share Incentive Scheme 《( 關 於 提 請 股 東 大 會 授 權 董 事 會 辦 理 公 司2017 年 限 制 性 股 票 激 勵 計 劃 有 關 事 項 的 議 案》) were considered and approved at the 8th meeting of the fourth session of the Board and the 7th meeting of the fourth session of the board of supervisors convened by the Company on October 24, 2017, respectively, and at the 2017 fifth extraordinary general meeting held by the Company on November 10, 2017. For details, please refer to Ganfeng Lithium's 2017 Restricted A Share Incentive Scheme (Draft) and Its Summary disclosed by the Company on the Securities Times, Securities Daily and on the website of CNINFO (www.cninfo.com.cn) on October 25, 2017 and the announcement on resolutions passed at the 2017 fifth extraordinary general meeting of Ganfeng Lithium (Lin 2017-118)disclosed by the Company on November 11, 2017.

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The Resolution on Adjustment of the List of Part of Participants First

Granted by the 2017 Restricted A Share Incentive Scheme and the Number of Grants 《( 關 於 調 整2017 年 限 制 性 股 票 激 勵 計 劃 首 次 授 予 部 分

激 勵 對 象 名 單 及 授 予 數 量 的 議 案》) and the Resolution on the First Grant of Restricted A Share to Participants 《( 關 於 向 激 勵 對 象 首 次 授 予 限 制 性 股 票 的 議 案》) were considered and approved at the 10th meeting of the fourth session of the Board and the 9th meeting of the fourth session of the board of supervisors convened by the Company on December 13, 2017, respectively. It was agreed to grant 12,866,500 restricted shares to 339 eligible participants with December 13, 2017 as the grant date. The restricted shares granted went public on December 29, 2017. For details, please refer to Ganfeng Lithium's Announcement on the First Grant of Restricted A Share to Participants (Lin 2017-133) and Ganfeng Lithium's Announcement on Completion of Registration of the First Grant of the 2017 Restricted A Share Incentive Scheme (Lin 2017-145) disclosed by the Company on the Securities Times, Securities Daily and on the website of CNINFO (www. cninfo.com.cn) on December 14, 2017.

The Resolution in relation to Grant of Reserved Restricted Shares to Eligible Participants 《( 關 於 向 激 勵 對 象 授 予 預 留 限 制 性 股 票 的 議 案》) was

considered and approved at the 19th meeting of the fourth session of the Board and the 14th meeting of the fourth session of the board of supervisors convened by the Company on May 2, 2018, respectively. It was agreed to grant 2,865,000 restricted shares to 89 eligible participants with May 2, 2018 as the grant date. The Company completed the registration of the grant of 2,123,080 restricted shares to 55 eligible participants on May 18, 2018. For details, please refer to Ganfeng Lithium's Announcement on Grant of Reserved Restricted Shares to Participants (Lin 2018-049) and Ganfeng Lithium's Announcement on Completion of Registration of the Reserved Grant of the 2017 Restricted A Share Incentive Scheme (Lin 2018-052) disclosed by the Company on the Securities Times, Securities Daily and on the website of CNINFO (www.cninfo.com.cn) on May 3, 2018.

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The Resolution in Relation to Adjustment to the Price of Restricted Shares to be Repurchased and Cancelled 《( 關 於 調 整 回 購 註 銷 限 制 性 股 票 價 格 的 議 案》) and the Resolution in Relation to Repurchase and Cancellation of Restricted Shares Granted to Participants Failing to Qualify for the Incentive Scheme and Termination of 2017 Restricted Share Incentive Scheme as well

as Repurchase and Cancellation of All Restricted Shares Granted But Not Yet Unlocked 《( 關 於 回 購 註 銷 不 符 合 激 勵 條 件 激 勵 對 象 的 限 制 性 股 票 並 終 止 實 施2017 年 限 制 性 股 票 激 勵 計 劃 暨 回 購 註 銷 已 授 予 但 尚 未 解 除 限 售 的 全 部 限 制 性 股 票 的 議 案》) were considered and

approved at the 32nd meeting of the fourth session of the Board convened on April 12, 2019, the 2018 annual general meeting, the 2019 first A share class meeting and the 2019 first H share class meeting held on June 11, 2019, respectively, pursuant to which, the Company was approved to repurchase and cancel 942,000 restricted shares granted but not yet unlocked of 16 departing participants and 3 deceased participants; the Company was approved to repurchase and cancel 7,044,298 restricted shares granted but not yet unlocked of 108 participants who failed the 2017 annual performance appraisals and 375 participants who failed the 2018 annual performance appraisals; and the Company was approved to terminate the 2017 restricted share Incentive Scheme and to repurchase and cancel 14,498,072 restricted shares granted but not yet unlocked. A total of 22,484,370 restricted shares granted but not yet unlocked will be repurchased and cancelled, representing 1.71% of the total share capital of the Company, at a repurchase price of RMB30.21 per share. For details, please refer to Ganfeng Lithium's Announcement in Relation to Adjustment to the Price of Restricted Shares to be Repurchased and Cancelled (Lin 2019-036) and Ganfeng Lithium's Announcement in Relation to Repurchase and Cancellation of Restricted Shares Granted to Participants Failing to Qualify for the Incentive Scheme and Termination of 2017 Restricted Share Incentive Scheme and Repurchase and Cancellation of All Restricted Shares Granted But Not Yet Unlocked (Lin 2019-037) disclosed by the Company on the Securities Times, Securities Daily and on the website of CNINFO (www.cninfo.com.cn) on April 13.

The Company completed the procedures of repurchase and cancellation of all restricted shares granted but not yet unlocked under 2017 Restricted Share Incentive Scheme in Shenzhen Branch of China Securities Depository and Clearing Co., Ltd. on July 11, 2019. For details, please refer to Ganfeng Lithium's Announcement in Relation to Completion of the Repurchase and Cancellation of 2017 Restricted Share Incentive Scheme as well as All Restricted Shares Granted But Not Yet Unlocked Under 2017 Restricted Share Incentive Scheme (Lin 2019-069) disclosed by the Company on the Securities Times, Securities Daily and on the website of CNINFO (www. cninfo.com.cn) on July 13, 2019.

- 14 -

	Date of
Overview of Significant Issues	Disclosure
Issues on investment in mining	April 2, 2019
rights involved in the
acquisition of certain equity
interests in Minera Exar by
Netherland Ganfeng, a wholly-
owned subsidiary of GFL
International, and related party
transaction
	August 19, 2019

Issues on investment in mining June 29, 2019 rights by acquisition of certain

equity interests in Bacanora and Sonora, a subsidiary engaged in lithium-clay project

October 22, 2019

Index to the Websites on which

Interim Reports Disclosed

Announcement on Investment in Mining Rights Involved in the Acquisition of Certain Equity Interests in Minera Exar by Netherland Ganfeng, a Wholly-owned Subsidiary of GFL International,

and Related Party Transaction (Lin 2019-031)( 臨 2019-031 贛鋒鋰業關於贛鋒國際全資子公 司荷蘭贛鋒認購阿根廷Minera Exar 公司部分 股權涉及礦業權投資暨關聯交易的公告)

Announcement on Progress of Investment in Mining Rights Involved in the Acquisition of Certain Equity Interests in Minera Exar by Netherland Ganfeng,

a Wholly-owned Subsidiary of GFL International,

and Related Party Transaction (Lin 2019-076)( 臨 2019-076 關於贛鋒國際全資子公司荷蘭贛 鋒認購阿根廷Minera Exar 公司部分股權涉及 礦業權投資暨關聯交易的進展公告)

Announcement of Ganfeng Lithium on Investment in Mining Rights by Acquisition of Certain Equity Interests in Bacanora and Sonora, a Subsidiary Engaged in Lithium-clay Project (Lin 2019-062) (臨

2019-062 贛鋒鋰業關於認購Bacanora 公司及 其旗下鋰黏土項目公司Sonora 部分股權涉 及礦業權投資的公告)

The Progress Announcement of Ganfeng Lithium Co. Ltd. on Investment in Mining Rights by Acquisition of Certain Equity Interests in Bacanora and Sonora, a Subsidiary Engaged in Lithium-clay Project (Lin

2019-084)( 臨2019-084 江西贛鋒鋰業股份有 限公司關於認購Bacanora 公司及其旗下鋰黏 土項目公司Sonora 部分股權涉及礦業權投 資的進展公告)

- 15 -

	Date of
Overview of Significant Issues	Disclosure
Issues in relation to repurchase	April 13, 2019
and cancellation of restricted
shares granted to participants
failing to qualify for the
incentive scheme and
termination of 2017 restricted
share incentive scheme as well
as repurchase and cancellation
of all restricted shares granted
but not yet unlocked

July 13, 2019

Progress in repurchase of shares

Index to the Websites on which

Interim Reports Disclosed

Announcement of Ganfeng Lithium in Relation to Adjustment to the Price of Restricted Shares to be

Repurchased and Cancelled (Lin 2019-036) ( 臨 2019-036贛鋒鋰業關於調整回購註銷限制性

股票價格的公告) and Announcement of Ganfeng Lithium in Relation to Repurchase and Cancellation of Restricted Shares Granted to Participants Failing to Qualify for the Incentive Scheme and Termination of 2017 Restricted Share Incentive Scheme as well as Repurchase and Cancellation of All Restricted

Shares Granted But Not Yet Unlocked (Lin 2019- 037)(臨2019-037贛鋒鋰業關於回購註銷不符合激勵條件激勵對象的限制性股票並終止 實施2017 年限制性股票激勵計劃暨回購註 銷已授予但尚未解除限售的全部限制性股 票的公告)

Announcement in Relation to Completion of the Repurchase and Cancellation of 2017 Restricted A Share Incentive Scheme and of All Restricted Shares Granted But Not Yet Unlocked Under 2017

Restricted Share Incentive Scheme ( 關於完成回 購註銷2017 年限制性股票激勵計劃暨回購 註銷已授予但尚未解除限售的全部限制性 股票的公告)

Applicable

✓ Not applicable

Progress in implementation of reducing shareholding of repurchased shares through centralized auction

Applicable

✓ Not applicable

1. Outstanding commitments made by relevant parties, such as de facto controllers of the Company, shareholders, related parties, the acquirers and the Company, during the reporting period

Applicable

✓ Not applicable

There were no outstanding commitments made by relevant parties, such as de facto controllers of the Company, shareholders, related parties, the acquirers and the Company, during the reporting period.

- 16 -

IV. Forecast on the results of operations for 2019

✓ Applicable

Not applicable

Estimated results of operations for 2019: Net profit is positive and will decrease by more than 50% year-on-year

Net profit is positive and will decrease by more than 50% year-on-year

Change in net profit attributable to shareholders	-65.00%	to	-55.00%
of the listed company for 2019
Range of change in net profit attributable to	42,815.04	to	55,047.91
shareholders of the Company for 2019 (RMB0'000)
Net profit attributable to shareholders of the Company			122,328.69
for 2018 (RMB0'000)
Reasons for the change in result	1. The profit growth of the Company was

impaired due to the loss from change in fair value arising from the decrease in price of stocks involving financial assets;

2. The decline of lithium salt price as compared to the corresponding period of the preceding year also affected the profit growth of the Company.

1. Financial assets measured at fair value

✓

Applicable

Not applicable

Unit: RMB

Gain or loss

Accumulated

from change

fair value

Purchase

Sales amount

Amount at

in fair value

changes

amount for

for the

Accumulated

the end of

Initial

for the current

included

the Reporting

Reporting

gains from

the Reporting

Source of

Type of assets investment cost

period

in equity

Period

Period

investment

Period

funds

Shares

191,275,014.57

-252,788,083.19

-241,796,310.51

242,023,508.43

668,390.92

18,706.90

271,941,829.97

Internal funds

Total

191,275,014.57

-252,788,083.19

-241,796,310.51

242,023,508.43

668,390.92

18,706.90

271,941,829.97

-

- 17 -

VI. Violation of regulations in relation to the provision of guarantee to external parties

Applicable

✓ Not applicable

The Company has not breached any requirements in relation to the provision of guarantee to external parties during the reporting period.

VII. The listed company's non-operating capital occupied by controlling shareholders and their related parties

Applicable

✓ Not applicable

No non-operating capital of the listed company was occupied by controlling shareholders and their related parties in the Company during the reporting period.

VIII. Entrusted wealth management

Applicable

✓ Not applicable

The Company did not have any entrusted wealth management during the reporting period.

IX. Activities of receiving investigation and research, communication and interview during the reporting period

Applicable

✓ Not applicable

There were no activities of receiving investigation and research, communication and interview hosted by the Company during the reporting period.

- 18 -

SECTION 4 FINANCIAL STATEMENTS

I.	Financial Statements
	1.	Consolidated balance sheet
		Prepared by: Ganfeng Lithium Co., Ltd.
						Unit: RMB
		Item	September 30, 2019		December 31, 2018
		Current assets:
		Monetary fund	2,021,879,895.70	3,602,340,290.70
		Clearing settlement fund
		Capital lending
		Financial assets held for trading	125,395,623.94	192,782,045.08
		Financial assets at fair value through profit or loss
		for the current period
		Derivative financial assets
		Bills receivable			403,462,509.22
		Accounts receivable	1,025,725,718.72	1,002,137,169.98
		Accounts receivable financing	252,989,201.08
		Prepayments	409,240,847.76	309,713,264.41
		Premiums receivable
		Reinsurance receivable
		Reinsurance contract reserve receivable
		Other receivables	20,650,238.93	348,278,537.35
		Including: Interest receivable			14,775,369.39
		Dividend receivable
		Financial assets purchased for resale
		Inventories	1,950,472,615.65	1,904,712,597.83
		Contract assets
		Held-for-sale assets
		Non-current assets due within one year
		Other current assets	193,463,775.94	151,341,579.01
		Total current assets	5,999,817,917.72	7,914,767,993.58

- 19 -

Item	September 30, 2019		December 31, 2018
Non-current assets:
Loans and advances to customers
Debenture investments
Available-for-sale financial assets
Other debenture investments
Held-to-maturity investment
Long-term receivables
Long-term equity investments	3,347,584,457.93	1,735,529,953.94
Other equity instrument investment
Other non-current financial assets	440,345,156.03	442,917,204.04
Investment properties	145,378.86	166,133.13
Fixed assets	1,933, 050,441.79	1,497,740,046.11
Construction in progress	895,447,406.54	1,097,593,245.01
Biological assets for production
Fuel assets
Right-of-use assets	33,217,113.45
Intangible assets	334,045,015.67	312,723,128.72
Development expenses	36,473,856.88	24,911,541.74
Goodwill	18,302,165.07	18,302,165.07
Long-term deferred expenses	22,519,951.41	24,250,271.15
Deferred income tax assets	26,741,864.17	27,046,587.26
Other non-current assets		933,821,339.98		424,768,482.37
Total non-current assets	8,021,694,147.78	5,605,948,758.54
Total assets	14,021,512,065.50	13,520,716,752.12

- 20 -

Item	September 30, 2019		December 31, 2018
Current liabilities:	2,010,324,830.02
Short-term borrowings	1,320,844,856.00
Borrowing from PBOC
Capital borrowed
Financial liabilities held for trading
Financial liabilities at fair value through
profit or loss for the current period
Derivative financial liabilities	359,400,097.05
Bills payable	292,160,164.50
Accounts payable	521,535,917.10	1,026,808,187.22
Advances from customers	39,700,519.72
Contract liabilities	46,050,084.51
Financial assets sold under repurchase agreements
Deposit taking and deposit in inter-bank market
Acting trading securities
Acting underwriting securities	22,682,913.98
Staff salaries payable	68,379,677.71
Taxes payable	126,585,379.78	310,357,260.32
Other payables	46,736,360.29	732,119,671.10
Including: Interest payable			1,566,379.94
Dividends payable			5,995,832.00
Bank charges and commissions payable
Reinsurance payable
Liabilities held for sale	437,586,524.51
Non-current liabilities due within one year	35,490,560.00
Other current liabilities
Total current liabilities	3,564,552,542.45	3,832,210,461.36

- 21 -

Item	September 30, 2019		December 31, 2018
Non-current liabilities:
Insurance contract reserve	1,167,578,760.00
Long-term borrowings	706,112,640.00
Bonds payables	750,123,796.78	713,460,300.48
Including: Preferred shares
Perpetual bonds	27,893,746.30
Lease liabilities
Long-term payables	252,929,659.46	230,679,581.68
Long-term staff salaries payable
Accrued liabilities	63,827,187.27
Deferred income	58,687,488.08
Deferred income tax liabilities	642,952.36	2,386,843.49
Other non-current liabilities		6,250.00		6,250.00
Total non-current liabilities	2, 263,002,352.17	1,711,333,103.73
Total liabilities	5, 827,554,894.62	5,543,543,565.09

- 22 -

Item	September 30, 2019			December 31, 2018
Owners' equity:
Share capital	1,292,600,241.00	1,315,081,930.00
Other equity instruments	205,647,869.50	205,673,493.18
Including: Preferred shares
Perpetual bonds
Capital reserve	3,071,028,798.85	3,592,733,325.23
Less: treasury share	0.00	685,173,701.80
Other comprehensive income	136,215,784.84	26,559,504.07
Special reserve	4,489,657.72	2,614,687.71
Surplus reserve	342,882,482.99	342,882,482.99
General risk reserve				0.00
Undistributed profits	3, 064,657,367.82	3,123,272,043.23
Total of the equity attributable to the owners
of the parent company	8, 117,522,202.72	7,923,643,764.61
Minority interests	76,434,968.16	53,529,422.42
Total owners' equity	8, 193,957,170.88	7,977,173,187.03
Total liabilities and owners' equity	14,021,512,065.50	13,520,716,752.12

		Head of the Accounting
Legal representative:	Chief Accountant:	Department:
Li Liangbin	Yang Manying	Lin Kui

- 23 -

2. Balance sheet of the Parent Company

				Unit: RMB
Item	September 30, 2019		December 31, 2018
Current assets:
Monetary fund	1,677,928,063.72	3,248,177,691.52
Financial assets held for trading			50,490,479.45
Financial assets at fair value through
profit or loss for the current period
Derivative financial assets
Bills receivable			377,395,437.03
Accounts receivable	319,152,183.51	287,158,277.00
Accounts receivable financing	187,288,240.28
Prepayments	230,445,602.81	232,824,072.00
Other receivables	1,759,202,238.46	1,164,768,251.81
Including: Interest receivable			6,494,780.69
Dividend receivable
Inventories	1,232,886,027.58	1,528,113,676.87
Contract assets
Held-for-sale assets
Non-current assets due within one year
Other current assets	18,404,735.65	8,529,248.02
Total current assets	5,425,307,092.01	6,897,457,133.70

- 24 -

Item	September 30, 2019		December 31, 2018
Non-current assets:
Debenture investments
Available-for-sale financial assets
Other debenture investments
Held-to-maturity investment
Long-term receivables
Long-term equity investments	5,828,566,824.56	3,942,514,140.06
Other equity instrument investment
Other non-current financial assets	199,681,150.00	211,951,500.00
Investment properties	145,378.86	166,133.13
Fixed assets	808,709,133.12	767,848,423.49
Construction in progress	416,345,948.37	419,732,947.44
Biological assets for production
Fuel assets
Right-of-use assets	636,033.66
Intangible assets	97, 898,063.08	92,736,883.15
Development expenses
Goodwill
Long-term deferred expenses
Deferred income tax assets
Other non-current assets	24,096,341.00	30,000,000.00
Total non-current assets	7,376,078,872.65	5,464,950,027.27
Total assets	12,801,385,964.66	12,362,407,160.97

- 25 -

Item	September 30, 2019		December 31, 2018
Current liabilities:
Short-term borrowings	2,010,324,830.02	1,170,844,856.00
Financial liabilities held for trading
Financial liabilities at fair value through
profit or loss for the current period
Derivative financial liabilities
Bills payable	359,400,097.05	381,486,971.90
Accounts payable	110,428,276.30	704,825,402.26
Advances from customers
Contract liabilities	19,267,958.64	40,332,311.81
Staff salaries payable	8,958,120.16	31,433,756.50
Taxes payable	110,131,427.04	251,981,432.37
Other payables	504,217,646.44	1,061,025,864.00
Including: Interest payable			1,566,379.94
Dividend payable			5,995,832.00
Liabilities held for sale
Non-current liabilities due within one year	431,579,103.17	35,490,560.00
Other current liabilities
Total current liabilities	3,554,307,458.82	3,677,421,154.84

- 26 -

Item	September 30, 2019			December 31, 2018
Non-current liabilities:
Long-term borrowings	1,167,578,760.00	706,112,640.00
Bonds payables	750,123,796.78	713,460,300.48
Including: Preferred shares
Perpetual bonds
Lease liabilities	67,672.08
Long-term payables
Long-term staff salaries payable
Accrued liabilities
Deferred income	25,360,909.37	19,631,487.91
Deferred income tax liabilities	11,328,648.33	301,094.24
Other non-current liabilities
Total non-current liabilities	1, 954,459,786.56	1,439,505,522.63
Total liabilities	5,508,767,245.38	5,116,926,677.47
Owners' equity:
Share capital	1,292,600,241.00	1,315,081,930.00
Other equity instruments	205,647,869.50	205,673,493.18
Including: Preferred shares
Perpetual bonds
Capital reserve	3,063,158,573.14	3,584,863,099.52
Less: treasury share	0.00	685,173,701.80
Other comprehensive income				0.00
Special reserve	1,463,540.99	1,827,307.08
Surplus reserve	342,882,482.99	342,882,482.99
Undistributed profits	2,386,866,011.66	2,480,325,872.53
Total owners' equity	7,292,618,719.28	7,245,480,483.50
Total liabilities and owners' equity	12,801,385,964.66	12,362,407,160.97

- 27 -

3. Consolidated Income Statement for the reporting period

			Unit: RMB
		Amount for	Amount for
Item		the current period	the previous period
I.	Total operating revenue	1,388,092,945.70	1,261,695,745.73
	Including: Operating income	1,388,092,945.70	1,261,695,745.73
	Interest income
	Premiums earned
	Fees and commission income
II.	Total operating costs	1,218,324,829.88	991,632,499.43
	Including: Operating costs	1,090,344,823.55	905,040,260.82
	Interest expense
	Fees and commission expense
	Surrender payment
	Net expenditure for
	compensation payments
	Net provision for insurance liabilities
	Expenditures for insurance
	policy dividend
	Reinsurance expenses
	Tax and surcharge	8,150,308.56	7,431,914.52
	Selling expenses	27,923,134.32	18,242,634.14
	Administrative expenses	33,314,471.59	26,523,325.47
	Research and development expenditure	18,379,923.96	16,010,635.92
	Finance expenses	40,212,167.90	18,383,728.56
	Including: Interest costs	53,006,361.06	22,707,871.66
	Interest income	25,023,046.05	12,674,405.62

- 28 -

		Amount for	Amount for
Item		the current period	the previous period
Add:	Other revenue	14,521,070.04	14,646,507.31
	Investment income ("-"denotes loss)	31,106,635.12	39,934,819.15
	Including: Investment income from
	associates and joint ventures	-12,710,444.91	70,961,857.30
	Gains on derecognition of financial assets
	measured at amortised cost
	Foreign exchange gain
	("-"denotes loss)
	Gain from net exposure to hedging
	("-" denotes loss)
	Gain on change in fair value
	("-" denotes loss)	-175,391,980.22	-41,501,261.76
	Impairment loss of credit
	("-" denotes loss)	2,468,740.88	1,269,428.31
	Impairment loss of assets
	("-" denotes loss)	326,615.05	6,615,430.78
	Gains on disposal of assets
	("-" denotes loss)	-3,748,423.57	-215,773.35
III. Operating profit ("-" denotes loss)	39,050,773.12	290,812,396.74
Add: Non-operating income	633,255.27	176,939.90
Less: Non-operating expense	1,401,663.02	1,329,373.10
IV. Total profit ("-" denotes total loss)	38,282,365.37	289,659,963.54
Less: Income tax expenses	5,649,220.10	42,804,397.39

- 29 -

	Amount for	Amount for
Item	the current period	the previous period
V. Net profit ("-" denotes net loss)	32,633,145.27	246,855,566.15

1. Classified by business continuity

1.	Net profit from continuing operations
	("-" denotes net loss)	32,633,145.27	246,855,566.15
2.	Net profit from discontinued operations
	("-" denotes net loss)	0.00

1. Classified by ownership
   1. Net profit attributable to the owners of the

	parent company	33,376,530.24	246,837,344.77
2.	Minority interests	-743,384.97	18,221.38
VI. Net other comprehensive income after tax	94,349,698.22	89,689,008.56
Net other comprehensive income after tax attributable
to the owners of the parent company	91,518,680.54	90,739,233.60
(I) Other comprehensive income that cannot be
reclassified into profit or loss	0.00
1.	Changes arising from the re-measurement
	of defined benefit plans	0.00
2.	Other comprehensive income that cannot be
	transferred to profit or loss under equity
	method	0.00
3.	Changes in fair value of investment
	in other equity instruments	0.00
4.	Changes in fair value of the Company's
	own credit risk	0.00
5.	Others	0.00

- 30 -

			Amount for	Amount for
Item			the current period	the previous period
(II) Other comprehensive income that will be
	reclassified into profit or loss	91,518,680.54	90,739,233.60
	1.	Other comprehensive income that can be
		transferred to profit or loss under
		equity method	3,757,914.30
	2.	Changes in fair value of other debt
		investments	0.00
	3.	Gains and losses from changes in fair value
		of available-for-sale financial assets	0.00	0.00
	4.	Amount of financial assets reclassified into
		other comprehensive income	0.00
	5.	Gains and losses from held-to-maturity
		investment reclassified as available-for-
		sale financial assets	0.00
	6.	Credit impairment provisions for other debt
		investment	0.00
	7.	Cash flow hedge reserve	0.00
	8.	Difference arising from the translation of
		foreign currency financial statements	87,760,766.24	90,739,233.60
	9.	Others	0.00
Net other comprehensive income after tax attributable
to minority shareholders	2,831,017.68	-1,050,225.04
VII. Total comprehensive income	126,982,843.49	336,544,574.71
Total comprehensive income attributable
to the owners of the parent company	124,895,210.78	337,576,578.37
Total comprehensive income attributable
to minority shareholders	2,087,632.71	-1,032,003.66
VIII. Earnings per share:
(I)	Basic earnings per share	0.03	0.22
(II)	Diluted earnings per share	0.03	0.22

For the business combination under common control effected in the current period, the net profit recognized by the merged party before the combination was RMB0.00, and the net profit recognized by the merged party in the previous period was RMB0.00.

		Head of the Accounting
Legal representative:	Chief Accountant:	Department:
Li Liangbin	Yang Manying	Lin Kui

- 31 -

4. Income Statement of the Parent Company for the reporting period

			Unit: RMB
		Amount for	Amount for
Item		the current period	the previous period
I.	Operating income	907,394,534.71	973,626,418.06
	Less: Operating costs	695,648,720.06	694,993,203.49
	Tax and surcharge	5,857,784.86	5,177,960.63
	Selling expenses	14,703,325.12	8,075,234.87
	Administrative expenses	17,897,233.61	9,263,356.62
	Research and development expenditure	0.00	2,900,153.97
	Finance expenses	32,289,977.34	20,430,417.92
	Including: Interest costs	45,068,443.52	18,447,643.16
	Interest income	7,237,523.35	11,594,122.25
	Add: Other revenue	12,745,714.18	11,461,910.18
	Investment income ("-" denotes loss)	829,491.32	-3,132,547.95
	Including: Investment income from
	associates and joint ventures	829,491.32	0.00
	Gains on derecognition of financial assets
	measured at amortised cost
	Gain from net exposure to hedging
	("-" denotes loss)
	Gain on change in fair value ("-" denotes loss)	-313,500.00	25,467,937.68
	Impairment loss of credit ("-" denotes loss)	-1,902,338.25	970,341.35
	Impairment loss of assets ("-" denotes loss)	-709,385.87	6,788,894.08
	Gains on disposal of assets ("-" denotes loss)	-2,290,159.30	108,620.69

- 32 -

		Amount for	Amount for
Item		the current period	the previous period
II.	Operating profit ("-" denotes loss)	149,357,315.80	274,451,246.59
	Add: Non-operating income	512,759.77	165,600.94
	Less: Non-operating expense	14,061.11	462,915.37
III.	Total profit ("-" denotes total loss)	149,856,014.46	274,153,932.16
	Less: Income tax expenses	23,041,101.47	42,323,914.92
IV.	Net profit ("-" denotes net loss)	126,814,912.99	231,830,017.24
	(I) Net profit from continuing operations
	("-" denotes net loss)	126,814,912.99	231,830,017.24

1. 1. Net profit from discontinued operations ("-" denotes net loss)
2. Net other comprehensive income after tax
3. 1. Other comprehensive income that cannot be reclassified into profit or loss
   2. 1. Changes arising from the re-measurement of defined benefit plans
      2. Other comprehensive income that cannot be transferred to profit or loss under equity method
      3. Changes in fair value of investment in other equity instruments
      4. Changes in fair value of the Company's own credit risk
      5. Others

- 33 -

	Amount for	Amount for
Item	the current period	the previous period

1. Other comprehensive income that will be reclassified into profit or loss
2. 1. Other comprehensive income that can be transferred to profit or loss under equity method
   2. Changes in fair value of other debt investments
   3. Gains and losses from changes in fair value of available-for-sale financial assets
   4. Amount of financial assets reclassified into other comprehensive income
   5. Gains and losses from held-to-maturity investment reclassified as available-for- sale financial assets
   6. Credit impairment provisions for other debt investment
   7. Cash flow hedge reserve
   8. Difference arising from the translation of foreign currency financial statements
   9. Others

VI. Total comprehensive income	126,814,912.99	231,830,017.24
VII. Earnings per share:

1. Basic earnings per share

1. Diluted earnings per share

- 34 -

5. Consolidated Income Statement from the beginning of the year till the end of the reporting period

			Unit: RMB
		Amount for	Amount for
Item		the current period	the previous period
I.	Total operating revenue	4,210,504,096.79	3,593,501,018.05
	Including: Operating income	4,210,504,096.79	3,593,501,018.05
	Interest income		0.00
	Premiums earned		0.00
	Fees and commission income		0.00
II.	Total operating costs	3,655,439,900.57	2,553,828,822.03
	Including: Operating costs	3,204,182,776.79	2,211,373,251.14
	Interest expense		0.00
	Fees and commission expense		0.00
	Surrender payment		0.00
	Net expenditure for compensation payments		0.00
	Net provision for insurance liabilities		0.00
	Expenditures for insurance policy dividend		0.00
	Reinsurance expenses		0.00
	Tax and surcharge	19,133,781.29	18,845,919.50
	Selling expenses	79,765,588.22	50,176,495.64
	Administrative expenses	218,529,371.63	180,162,972.31
	Research and development expenditure	55,227,336.63	43,503,891.43
	Finance expenses	78,601,046.01	49,766,292.01
	Including: Interest costs	148,892,307.87	57,671,199.00
	Interest income	91,359,873.98	24,013,713.63

- 35 -

		Amount for	Amount for
Item		the current period	the previous period
Add:	Other revenue	44,530,676.15	141,655,665.55
	Investment income ("-"denotes loss)	134,831,743.27	92,417,205.89
	Including: Investment income from
	associates and joint ventures	79,889,021.44	81,134,637.97
	Gains on derecognition of financial assets
	measured at amortised cost
	Foreign exchange gain ("-"denotes loss)
	Gain from net exposure to hedging
	("-" denotes loss)
	Gain on change in fair value ("-"denotes
	loss)	-294,535,012.64	-153,617,450.07
	Impairment loss of credit ("-"denotes loss)	-4,850,097.14	11,651,877.42
	Impairment loss of assets ("-"denotes loss)	1,806,079.96	6,714,294.99
	Gains on disposal of assets
	("-"denotes loss)	-11,573,447.65	-89,167.52
III. Operating profit ("-" denotes loss)	425,274,138.17	1,138,404,622.28
Add: Non-operating income	957,394.08	2,177,153.07
Less: Non-operating expense	1,823,792.93	1,673,162.56
IV. Total profit ("-"denotes total loss)	424,407,739.32	1,138,908,612.79
Less: Income tax expenses	96,167,472.24	166,800,168.20
V. Net profit ("-"denotes net loss)	328,240,267.08	972,108,444.59
(I) Classified by business continuity
	1. Net profit from continuing operations
	("-" denotes net loss)	328,240,267.08	972,108,444.59
	2. Net profit from discontinued operations
	("-" denotes net loss)		0.00
(II)	Classified by ownership
	1. Net profit attributable to the owners
	of the parent company	329,165,317.99	972,364,084.38
	2. Minority interests	-925,050.91	-255,639.79

- 36 -

		Amount for	Amount for
Item		the current period	the previous period
VI. Net other comprehensive income after tax	109,441,258.61	72,560,231.79
Net other comprehensive income after tax attributable
to the owners of the parent company	109,656,280.77	79,963,269.58
(I) Other comprehensive income that cannot be
reclassified into profit or loss		0.00
1.	Changes arising from the re-measurement
	of defined benefit plans		0.00
2.	Other comprehensive income that cannot be
	transferred to profit or loss
	under equity method		0.00
3.	Changes in fair value of investment in
	other equity instruments		0.00
4.	Changes in fair value of the Company's
	own credit risk		0.00
5.	Others		0.00
(II) Other comprehensive income that will be
reclassified into profit or loss	109,656,280.77	79,963,269.58
1.	Other comprehensive income that can be
	transferred to profit or loss under equity
	method	1,752,369.85	0.00
2.	Changes in fair value of other debt
	investments		0.00
3.	Gains and losses from changes in fair value
	of available-for-sale financial assets		0.00
4.	Amount of financial assets reclassified into
	other comprehensive income		0.00
5.	Gains and losses from held-to-maturity
	investment reclassified as available-for-
	sale financial assets		0.00
6.	Credit impairment provisions for other debt
	investment		0.00
7.	Cash flow hedge reserve		0.00
8.	Difference arising from the translation of
	foreign currency financial statements	107,903,910.92	79,963,269.58
9.	Others		0.00
Net other comprehensive income after tax attributable
to minority shareholders	-215,022.16	-7,403,037.79

- 37 -

	Amount for	Amount for
Item	the current period	the previous period
VII. Total comprehensive income	437,681,525.69	1,044,668,676.38
Total comprehensive income attributable to
the owners of the parent company	438,821,598.76	1,052,327,353.96
Total comprehensive income attributable to
minority shareholders	-1,140,073.07	-7,658,677.58
VIII. Earnings per share:
(I) Basic earnings per share	0.25	0.86
(II) Diluted earnings per share	0.25	0.86

For the business combination under common control effected in the current period, the net profit recognized by the merged party before the combination was RMB0.00, and the net profit recognized by the merged party in the previous period was RMB0.00.

		Head of the Accounting
Legal representative:	Chief Accountant:	Department:
Li Liangbin	Yang Manying	Lin Kui

- 38 -

6. Income Statement of the Parent Company from the beginning of the year till the end of the reporting period

			Unit: RMB
		Amount for	Amount for
Item		the current period	the previous period
I.	Operating income	2,952,100,217.71	2,629,834,164.38
	Less: Operating costs	2,232,406,226.28	1,617,210,585.47
	Tax and surcharge	12,641,056.44	10,073,074.77
	Selling expenses	41,458,462.21	22,941,342.30
	Administrative expenses	161,502,013.19	123,415,598.38
	Research and development expenditure	17,773,824.66	10,826,294.58
	Finance expenses	73,934,113.81	44,718,715.90
	Including: Interest costs	117,111,194.68	48,035,126.77
	Interest income	51,204,275.59	19,864,542.00
	Add: Other revenue	21,172,766.54	100,925,458.44
	Investment income ("-" denotes loss)	7,450,742.92	7,787,530.58
	Including: Investment income from associates
	and joint ventures	292,224.41	0.00
	Gains on derecognition of financial assets
	measured at amortised cost
	Gain from net exposure to hedging
	("-" denotes loss)
	Gain on change in fair value ("-" denotes loss)	-42,760,829.45	61,118,760.83
	Impairment loss of credit ("-" denotes loss)	-2,938,681.04	458,672.22
	Impairment loss of assets ("-" denotes loss)	1,806,079.96	6,887,758.29
	Gains on disposal of assets ("-" denotes loss)	-7,308,278.89	161,553.61

- 39 -

		Amount for	Amount for
Item		the current period	the previous period
II.	Operating profit ("-" denotes loss)	389,806,321.16	977,988,286.95
	Add: Non-operating income	524,926.87	1,972,161.97
	Less: Non-operating expense	244,126.71	515,927.43
III.	Total profit ("-" denotes total loss)	390,087,121.32	979,444,521.49
	Less: Income tax expenses	95,766,988.79	142,581,442.07
IV.	Net profit ("-" denotes net loss)	294,320,132.53	836,863,079.42
	(I) Net profit from continuing operations
	("-" denotes net loss)	294,320,132.53	836,863,079.42

1. 1. Net profit from discontinued operations ("-" denotes net loss)
2. Net other comprehensive income after tax
3. 1. Other comprehensive income that cannot be reclassified into profit or loss
   2. 1. Changes arising from the re-measurement of defined benefit plans
      2. Other comprehensive income that cannot be transferred to profit or loss under equity method
      3. Changes in fair value of investment in other equity instruments
      4. Changes in fair value of the Company's own credit risk
      5. Others

- 40 -

	Amount for	Amount for
Item	the current period	the previous period

1. Other comprehensive income that will be reclassified into profit or loss
2. 1. Other comprehensive income that can be transferred to profit or loss under equity method
   2. Changes in fair value of other debt investments
   3. Gains and losses from changes in fair value of available-for-sale financial assets
   4. Amount of financial assets reclassified into other comprehensive income
   5. Gains and losses from held-to-maturity investment reclassified as available-for- sale financial assets
   6. Credit impairment provisions for other debt investment
   7. Cash flow hedge reserve
   8. Difference arising from the translation of foreign currency financial statements
   9. Others

VI. Total comprehensive income	294,320,132.53	836,863,079.42
VII. Earnings per share:

1. Basic earnings per share

1. Diluted earnings per share

- 41 -

7. Consolidated Cash Flow Statement from the beginning of the year till the end of the reporting period

				Unit: RMB
		Amount for		Amount for
Item		the current period		the previous period
I.	Cash flow generated from operating activities:
	Cash received from selling goods and providing
	services	4,711,616,990.44	2,650,784,933.49
	Net increase in customer bank deposits and due to
	banks and other financial institutions
	Net increase in borrowings from PBOC
	Net increase in placements from other financial
	institutions
	Cash received from original insurance contract
	premiums
	Net cash received from reinsurance business
	Net increase in policy holder deposits and investments
	funds
	Cash received from interest, fees and commissions
	Net increase in capital borrowed
	Net increase in income from repurchase business
	Net cash received from securities trading agency
	services
	Refunds of taxes received	28,206,997.51	16,862,927.35
	Cash received relating to other operating activities	141,881,072.30		188,738,354.08
Sub-total of cash inflow from operating activities	4,881,705,060.25	2,856,386,214.92

- 42 -

	Amount for			Amount for
Item	the current period			the previous period
Cash paid for purchasing goods and receiving services	3,889,391,444.31	2,090,595,667.34
Net increase in customer loans and advances to
customers
Net increase in deposit in PBOC and due to banks and
other financial institutions
Cash paid for original insurance contract claimed
Net increase in capital lending
Cash paid for interest, fees and commissions
Cash paid for policy holder dividend
Cash paid to and for employees	303,541,824.50	191,936,975.39
Cash paid for taxes	376,820,497.72	403,826,317.01
Cash paid relating to other operating activities	84,334,051.53		58,275,272.25
Sub-total of cash outflow from operating activities	4,654,087,818.06	2,744,634,231.99
Net cash flow generated from operating activities	227,617,242.19	111,751,982.93

II. Cash flow generated from investing activities:
Cash received from disposal of investments	430,777,988.36	970,242,461.04
Cash received from returns on investments	129,553,473.85	17,310,819.65
Net cash received from disposal of fixed assets,
intangible assets and other long-term assets	2,077,102.34	2,927,815.56
Net cash received from disposal of subsidiaries and
other operating business units	0.00
Cash received relating to other investing activities	426,000,000.00	4,884,117.66
Sub-total of cash inflow from investing activities	988,408,564.55		995,365,213.91

- 43 -

	Amount for	Amount for
Item	the current period	the previous period
Cash paid for acquisition and construction of fixed
assets, intangible assets and other long-term assets	710,758,650.97		842,097,940.86
Cash paid for investment	1,956,723,065.68		817,737,463.44
Net increase in pledge loans
Net cash received from subsidiaries and other
operating business units	0.00
Cash paid relating to other investing activities	727,782,857.41		44,718,050.00
Sub-total of cash outflow from investing activities	3,395,264,574.06		1,704,553,454.30
Net cash flow generated from investing activities	-2,406,856,009.51		-709,188,240.39
III. Cash flow generated from financing activities
Cash received from investment	6,886,262.07	108,645,986.80
Including: Cash received by subsidiaries from the
investment of minority shareholders	6,886,262.07	11,600,000.00
Cash received from borrowings	2,620,390,338.20	1,220,993,002.00
Cash received relating to other financing activities	374,733,896.00
Sub-total of cash inflow from financing activities	3,002,010,496.27		1,329,638,988.80
Cash paid for repaying debts	948,239,928.00		1,383,467,843.38
Cash paid for distributing dividends and profits and
interest repayment	463,066,724.17		337,949,934.80
Including: Dividends and profits paid by subsidiaries
to minority shareholders
Cash paid relating to other financing activities	685,216,101.80		150,313,121.69
Sub-total of cash outflow from financing activities	2,096,522,753.97		1,871,730,899.87
Net cash flow generated from financing activities	905,487,742.30		-542,091,911.07

- 44 -

		Amount for		Amount for
Item		the current period		the previous period
IV.	Effect of foreign exchange rate changes to cash and
	cash equivalents	76,716,471.18	21,688,803.96
V.	Net increase in cash and cash equivalents	-1,197,034,553.84	-1,117,839,364.57
	Add: Balance of cash and cash equivalents at the
	beginning of the period	3,218,614,548.68	2,165,351,864.76
VI.	Balance of cash and cash equivalents at the end of
	the period	2,021,579,994.84	1,047,512,500.19

8. Cash Flow Statement of the Parent Company from the beginning of the year till the end of the reporting period

				Unit: RMB
	Amount for			Amount for
Item	the current period			the previous period
I. Cash flow generated from operating activities:
Cash received from selling goods and providing
services	3, 353,634,502.61	2,379,352,847.35
Refunds of taxes received	4,388,898.55	1,441,303.27
Cash received relating to other operating activities	101,040,604.46	122,430,548.59
Sub-total of cash inflow from operating activities	3,459,064,005.62	2,503,224,699.21
Cash paid for purchasing goods and receiving services	3,020,442,986.65	2,036,562,903.30
Cash paid to and for employees	111,252,046.11	73,544,978.92
Cash paid for taxes	296,121,311.82	316,854,764.45
Cash paid relating to other operating activities	40,687,202.01	26,565,970.37
Sub-total of cash outflow from operating activities	3, 468,503,546.59	2,453,528,617.04
Net cash flow generated from operating activities	-9,439,540.97	49,696,082.17

- 45 -

	Amount for			Amount for
Item	the current period			the previous period
II. Cash flow generated from investing activities:
Cash received from disposal of investments	430,564,986.00	655,206,901.97
Cash received from returns on investments	6,593,518.51	2,987,685.05
Net cash received from disposal of fixed assets,
intangible assets and other long-term assets	1,731,333.69	59,406.00
Net cash received from disposal of subsidiaries and
other operating business units
Cash received relating to other investing activities	426,000,000.00
Sub-total of cash inflow from investing activities	864,889,838.20	658,253,993.02
Cash paid for acquisition and construction of fixed
assets, intangible assets and other long-term assets	293,350,441.94	401,409,359.11
Cash paid for investment	2,181,199,470.09	778,321,775.00
Net cash paid for acquisition of subsidiaries and other
operating business units
Cash paid relating to other investing activities
Sub-total of cash outflow from investing activities	2,474,549,912.03	1,179,731,134.11
Net cash flow generated from investing activities	-1,609,660,073.83	-521,477,141.09

- 46 -

		Amount for			Amount for
Item		the current period			the previous period
III. Cash flow generated from financing activities
	Cash received from investment		97,045,986.80
	Cash received from borrowings	2,620,390,338.20	1,220,986,752.00
	Cash received relating to other financing activities	374,733,896.00	258,444,715.73
Sub-total of cash inflow from financing activities	2,995,124,234.20	1,576,477,454.53
	Cash paid for repaying debts	948,239,928.00	1,103,914,602.00
	Cash paid for distributing dividends and
	profits and interest repayment	455,406,447.07	321,660,538.38
	Cash paid relating to other financing activities	1,187,827,902.19		395,839,743.42
Sub-total of cash outflow from financing activities	2,591,474,277.26	1,821,414,883.80
Net cash flow generated from financing activities	403,649,956.94	-244,937,429.27
IV.	Effect of foreign exchange rate changes to cash and
	cash equivalents	26,679,386.76	2,557,523.41
V.	Net increase in cash and cash equivalents	-1,188,770,271.10	-714,160,964.78
	Add: Balance of cash and cash equivalents at the
	beginning of the period	2,866,688,334.82	1,468,378,314.49
VI.	Balance of cash and cash equivalents at the end of
	the period	1,677,918,063.72	754,217,349.71

1. Adjustments to financial statement

1. Adjustments to financial statement at the beginning of the year upon the adoption of new financial instrument standards, new revenue standards and new lease standards from 2019

✓ Applicable

Not applicable

- 47 -

Consolidated balance sheet
						Unit: RMB
Item	December 31, 2018		January 1, 2019		Adjustment
Current assets:
Monetary fund	3,602,340,290.70	3,602,340,290.70
Clearing settlement fund
Capital lending
Financial assets held for trading	192,782,045.08	192,782,045.08
Financial assets at fair value through profit
or loss for the current period
Derivative financial assets
Bills receivable	403,462,509.22	403,462,509.22
Accounts receivable	1,002,137,169.98	1,002,137,169.98
Accounts receivable financing
Prepayments	309,713,264.41	309,713,264.41
Premiums receivable
Reinsurance receivable
Reinsurance contract reserve receivable
Other receivables	348,278,537.35	348,278,537.35
Including: Interest receivable	14,775,369.39	14,775,369.39
Dividend receivable
Financial assets purchased for resale
Inventories	1,904,712,597.83	1,904,712,597.83
Contract assets
Held-for-sale assets
Non-current assets due within one year
Other current assets	151,341,579.01	151,341,579.01
Total current assets	7,914,767,993.58	7,914,767,993.58

- 48 -

Item	December 31, 2018		January 1, 2019		Adjustment
Non-current assets:
Loans and advances to customers
Debenture investments
Available-for-sale financial assets
Other debenture investments
Held-to-maturity investment
Long-term receivables
Long-term equity investments	1,735,529,953.94	1,735,529,953.94
Other equity instrument investment
Other non-current financial assets	442,917,204.04	442,917,204.04
Investment properties	166,133.13	166,133.13
Fixed assets	1,497,740,046.11	1,497,740,046.11
Construction in progress	1,097,593,245.01	1,097,593,245.01
Biological assets for production
Fuel assets
Right-of-use assets			38,959,449.74	38,959,449.74
Intangible assets	312,723,128.72	312,723,128.72
Development expenses	24,911,541.74	24,911,541.74
Goodwill	18,302,165.07	18,302,165.07
Long-term deferred expenses	24,250,271.15	24,250,271.15
Deferred income tax assets	27,046,587.26	27,046,587.26
Other non-current assets		424,768,482.37		424,768,482.37
Total non-current assets	5,605,948,758.54	5,644,908,208.28	38,959,449.74
Total assets	13,520,716,752.12	13,559,676,201.86	38,959,449.74

- 49 -

Item	December 31, 2018		January 1, 2019		Adjustment
Current liabilities:
Short-term borrowings	1,320,844,856.00	1,320,844,856.00
Borrowing from PBOC
Capital borrowed
Financial liabilities held for trading
Financial liabilities at fair value through
profit or loss for the current period
Derivative financial liabilities
Bills payable	292,160,164.50	292,160,164.50
Accounts payable	1,026,808,187.22	1,026,808,187.22
Advances from customers
Contract liabilities	46,050,084.51	46,050,084.51
Financial assets sold under repurchase
agreements
Deposit taking and deposit in inter-bank
market
Acting trading securities
Acting underwriting securities
Staff salaries payable	68,379,677.71	68,379,677.71
Taxes payable	310,357,260.32	310,357,260.32
Other payables	732,119,671.10	732,119,671.10
Including: Interest payable	1,566,379.94	1,566,379.94
Dividends payable	5,995,832.00	5,995,832.00
Bank charges and commissions payable
Reinsurance payable
Liabilities held for sale
Non-current liabilities due within one year	35,490,560.00	42,788,901.82	7,298,341.82
Other current liabilities
Total current liabilities	3,832,210,461.36	3,839,508,803.18	7,298,341.82

- 50 -

Item	December 31, 2018		January 1, 2019	Adjustment
Non-current liabilities:
Insurance contract reserve
Long-term borrowings	706,112,640.00	706,112,640.00
Bonds payables	713,460,300.48	713,460,300.48
Including: Preferred shares
Perpetual bonds
Lease liabilities			31,661,107.92	31,661,107.92
Long-term payables	230,679,581.68	230,679,581.68
Long-term staff salaries payable
Accrued liabilities
Deferred income	58,687,488.08	58,687,488.08
Deferred income tax liabilities	2,386,843.49	2,386,843.49
Other non-current liabilities		6,250.00		6,250.00
Total non-current liabilities	1,711,333,103.73	1,742,994,211.65		31,661,107.92
Total liabilities	5,543,543,565.09	5,582,503,014.83		38,959,449.74
Owners' equity:
Share capital	1,315,081,930.00	1,315,081,930.00
Other equity instruments	205,673,493.18	205,673,493.18
Including: Preferred shares
Perpetual bonds
Capital reserve	3,592,733,325.23	3,592,733,325.23
Less: treasury share	685,173,701.80	685,173,701.80
Other comprehensive income	26,559,504.07	26,559,504.07
Special reserve	2,614,687.71	2,614,687.71
Surplus reserve	342,882,482.99	342,882,482.99
General risk reserve	0.00
Undistributed profits	3,123,272,043.23	3,123,272,043.23
Total of the equity attributable to the owners
of the parent company	7,923,643,764.61	7,923,643,764.61
Minority interests	53,529,422.42	53,529,422.42
Total owners' equity	7,977,173,187.03	7,977,173,187.03
Total liabilities and owners' equity	13,520,716,752.12	13,559,676,201.86		38,959,449.74

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Explanation of the adjustment

The Ministry of Finance issued the "Notice of the Revision of Accounting Standards for Business Enterprises No. 21 - Leases" (Cai Kuai [2018] No. 35) on December 7, 2018 and required enterprises that are both listed domestically and overseas, and enterprises that are listed overseas adopting the International Financial Reporting Standards or the Accounting Standards for Business Enterprises for preparation of financial statements to adopt the revised "Accounting Standards for Business Enterprises No. 21 - Leases" with effect from January 1, 2019. The Standards refined the definition of lease by adding contents such as lease identification, division and consolidation; cancelled the lessees' distinction between the financial leases and operating leases, so the leases are no longer distinguished for lessees as operating leases and financial leases but are subject to a unified accounting model. A lessee is required to recognise a right-of-use asset and a lease liability for all leases other than short-term leases and leases of low-value assets, and should recognise depreciation and interest expenses therefor respectively. The Standards improved lessees' subsequent measurements and added accounting treatment methods under the circumstances of option revaluation and lease amendment; enriched the disclosure contents for the lessors to provide users of statements with more useful information. The Company implemented the New Lease Standards from January 1, 2019 according to the requirements under the New Lease Standards, and the accounting statements will be disclosed in accordance with the New Lease Standards in the current period without restating the comparable figures at the end of 2018.

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Balance sheet of the Parent Company
						Unit: RMB
Item	December 31, 2018		January 1, 2019		Adjustment
Current assets:
Monetary fund	3,248,177,691.52	3,248,177,691.52
Financial assets held for trading	50,490,479.45	50,490,479.45
Financial assets at fair value through profit
or loss for the current period
Derivative financial assets
Bills receivable	377,395,437.03	377,395,437.03
Accounts receivable	287,158,277.00	287,158,277.00
Accounts receivable financing			377,395,437.03
Prepayments	232,824,072.00	232,824,072.00
Other receivables	1,164,768,251.81	1,164,768,251.81
Including: Interest receivable	6,494,780.69	6,494,780.69
Dividend receivable
Inventories	1,528,113,676.87	1,528,113,676.87
Contract assets
Held-for-sale assets
Non-current assets due within one year
Other current assets	8,529,248.02	8,529,248.02
Total current assets	6,897,457,133.70	6,897,457,133.70

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Item	December 31, 2018		January 1, 2019		Adjustment
Non-current assets:
Debenture investments
Available-for-sale financial assets
Other debenture investments
Held-to-maturity investment
Long-term receivables
Long-term equity investments	3,942,514,140.06	3,942,514,140.06
Other equity instrument investment
Other non-current financial assets	211,951,500.00	211,951,500.00
Investment properties	166,133.13	166,133.13
Fixed assets	767,848,423.49	767,848,423.49
Construction in progress	419,732,947.44	419,732,947.44
Biological assets for production
Fuel assets
Right-of-use assets			1,197,343.06	1,197,343.06
Intangible assets	92,736,883.15	92,736,883.15
Development expenses
Goodwill
Long-term deferred expenses
Deferred income tax assets
Other non-current assets	30,000,000.00	30,000,000.00
Total non-current assets	5,464,950,027.27	5,466,147,370.33	1,197,343.06
Total assets	12,362,407,160.97	12,363,604,504.03	1,197,343.06

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Item	December 31, 2018			January 1, 2019	Adjustment
Current liabilities:
Short-term borrowings	1,170,844,856.00	1,170,844,856.00
Financial liabilities held for trading
Financial liabilities at fair value through
profit or loss for the current period
Derivative financial liabilities
Bills payable	381,486,971.90	381,486,971.90
Accounts payable	704,825,402.26	704,825,402.26
Advances from customers
Contract liabilities	40,332,311.81	40,332,311.81
Staff salaries payable	31,433,756.50	31,433,756.50
Taxes payable	251,981,432.37	251,981,432.37
Other payables	1,061,025,864.00	1,061,025,864.00
Including: Interest payable	1,566,379.94	1,566,379.94
Dividend payable	5,995,832.00	5,995,832.00
Liabilities held for sale
Non-current liabilities due within one year	35,490,560.00	36,320,985.94		830,425.94
Other current liabilities
Total current liabilities	3,677,421,154.84	3,678,251,580.78		830,425.94
Non-current liabilities:
Long-term borrowings	706,112,640.00	706,112,640.00
Bonds payables	713,460,300.48	713,460,300.48
Including: Preferred shares
Perpetual bonds
Lease liabilities				366,917.12	366,917.12
Long-term payables
Long-term staff salaries payable
Accrued liabilities
Deferred income	19,631,487.91	19,631,487.91
Deferred income tax liabilities	301,094.24	301,094.24
Other non-current liabilities
Total non-current liabilities	1,439,505,522.63	1,439,872,439.75		366,917.12
Total liabilities	5,116,926,677.47	5,118,124,020.53		1,197,343.06

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Item	December 31, 2018		January 1, 2019	Adjustment
Owners' equity:
Share capital	1,315,081,930.00		1,315,081,930.00
Other equity instruments	205,673,493.18		205,673,493.18
Including: Preferred shares
Perpetual bonds
Capital reserve	3,584,863,099.52	3,584,863,099.52
Less: treasury share	685,173,701.80	685,173,701.80
Other comprehensive income	0.00
Special reserve	1,827,307.08	1,827,307.08
Surplus reserve	342,882,482.99	342,882,482.99
Undistributed profits	2,480,325,872.53	2,480,325,872.53
Total owners' equity	7,245,480,483.50		7,245,480,483.50
Total liabilities and owners' equity	12,362,407,160.97		12,363,604,504.03		1,197,343.06

Explanation of the adjustment

The Ministry of Finance issued the "Notice of the Revision of Accounting Standards for Business Enterprises No. 21 - Leases" (Cai Kuai [2018] No. 35) on December 7, 2018 and required enterprises that are both listed domestically and overseas, and enterprises that are listed overseas adopting the International Financial Reporting Standards or the Accounting Standards for Business Enterprises for preparation of financial statements to adopt the revised "Accounting Standards for Business Enterprises No. 21 - Leases" with effect from January 1, 2019. The Standards refined the definition of lease by adding contents such as lease identification, division and consolidation; cancelled the lessees' distinction between the financial leases and operating leases, so the leases are no longer distinguished for lessees as operating leases and financial leases but are subject to a unified accounting model. A lessee is required to recognise a right-of-use asset and a lease liability for all leases other than short-term leases and leases of low-value assets, and should recognise depreciation and interest expenses therefor respectively. The Standards improved lessees' subsequent measurements and added accounting treatment methods under the circumstances of option revaluation and lease amendment; enriched the disclosure contents for the lessors to provide users of statements with more useful information. The Company implemented the New Lease Standards from January 1, 2019 according to the requirements under the New Lease Standards, and the accounting statements will be disclosed in accordance with the New Lease Standards in the current period without restating the comparable figures at the end of 2018.

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2. Retroactive adjustments to comparative data of previous period upon the adoption of new financial instrument standards and new lease standards from 2019

Applicable

✓ Not applicable

III. Audit report

Has the third quarterly report been audited?

Applicable

✓ Not applicable

The third quarterly report of the Company has not been audited.

By order of the Board

GANFENG LITHIUM CO., LTD.

LI Liangbin

Chairman

Jiangxi, the PRC

October 28, 2019

As at the date of this announcement, the Board comprises Mr. LI Liangbin, Mr. WANG Xiaoshen, Mr. SHEN Haibo, Ms. DENG Zhaonan and Mr. XU Xiaoxiong as executive directors of the Company; Mr. HUANG Daifang as non-executive director of the Company; and Mr. GUO Huaping, Mr. HUANG Huasheng, Mr. LIU Jun and Ms. WONG Sze Wing as independent non-executive directors of the Company.

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