BBMG : OVERSEAS REGULATORY ANNOUNCEMENT - ANNOUNCEMENT REGARDING THE PUBLICATION OF 2021 FIRST QUARTERLY REPORT OF JIDONG CEMENT

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.

北 京 金 隅 集 團 股 份 有 限 公 司

BBMG Corporation*

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

(Stock Code: 2009)

OVERSEAS REGULATORY ANNOUNCEMENT

ANNOUNCEMENT REGARDING THE PUBLICATION OF 2021 FIRST QUARTERLY REPORT OF JIDONG CEMENT

This announcement is made by BBMG Corporation* (the "Company") pursuant to Rule 13.10B of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited.

The controlling subsidiary of the Company, Tangshan Jidong Cement Co., Ltd. ("Jindong Cement"), published the "2021 First Quarterly Report of Jidong Cement" (《冀東水泥 2021 年第一季度報告》) in China Securities Journal (《中國證券報》), Securities Times (《證券 時報》) and the website of CNINFO (www.cninfo.com.cn) (巨潮資訊網) on 22 April 2021.

Please also refer to the relevant major financial statements from the 2021 First Quarterly Report of Jidong Cement published on the website of Shanghai Stock Exchange (www.sse.com.cn) by the Company in the attachments to this announcement.

By order of the Board

BBMG Corporation*

Zeng Jin

Chairman

Beijing, the PRC, 22 April 2021

As at the date of this announcement, the executive directors of the Company are Zeng Jin, Jiang Yingwu, Wu Dong and Zheng Baojin; the non-executive directors of the Company are Wang Zhaojia and Xue Chunlei; and the independent non-executive directors of the Company are Wang Guangjin, Tian Lihui, Tang Jun and Ngai Wai Fung.

• English translation denotes for identification purposes only
• • 1 -

Attachment：

1 Consolidated Balance Sheet

Prepared by : Tangshan Jidong Cement Co., Ltd.

As at 31 March 2021

Unit and Currency: RMB

Item		31 March 2021	31 December 2020
Current Assets:
Cash and bank balances		7,973,782,814.02	5,896,553,283.87
Settlement reserves
Loans to banks or other financial institutions
Held for trading financial assets
Derivative financial assets
Bills receivable		53,019,577.91	217,498,999.83
Accounts receivable		1,682,558,231.03	1,972,242,331.26
Accounts receivable financing		2,635,244,803.36	3,177,500,168.25
Advances to suppliers		1,367,400,836.45	1,133,767,612.78
Premiums receivable
Reinsurance accounts receivable
Reinsurance contract reserve receivable
Other receivables		477,874,283.59	483,270,231.79
Including: Interest receivables
Dividend receivables
Purchase and sell-back of financial assets
Inventories		3,232,975,398.02	2,706,984,382.83
Contract assets
Assets held for sale
Non-current assets due within one year
Other current assets		461,609,962.20	380,817,612.22
Total current assets		17,884,465,906.58	15,968,634,622.83
Non-current assets:
Loans and advances
Debt investments
Available-for-sale financial assets
Other debt investments
Long-term receivables
Long-term equity investments		1,798,717,290.09	1,779,610,480.34
Other instruments in equity instruments		326,053,233.80	340,964,889.61
Other non-current financial assets
Investment properties
Fixed assets		30,894,937,834.71	31,336,985,990.22
Construction in progress		1,695,588,996.26	1,519,562,336.86
Productive biological assets
Oil and gas assets
Right-of-use assets		233,516,218.62	233,669,061.01
Intangible assets		5,353,004,510.55	5,384,359,363.11
Development expenses
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Goodwill	311,019,966.70	311,019,966.70
Long-term prepaid expenses	1,221,824,335.15	1,202,271,788.40
Deferred tax assets	774,507,906.26	711,525,960.04
Other non-current assets	159,085,066.71	158,694,911.05
Total non-current assets	42,768,255,358.85	42,978,664,747.34
Total assets	60,652,721,265.43	58,947,299,370.17
Current liabilities:
Short-term loans	3,084,670,730.59	2,345,893,596.66
Borrowings from central bank
Deposits from customers and inter-bank deposits
Loans from banks and other financial institutions
Held for trading financial liabilities
Derivative financial liabilities
Bills payable	244,985,138.46	317,427,596.69
Accounts payable	3,743,685,399.42	3,974,704,809.76
Receipts in advance
Contract liabilities	1,176,650,814.16	834,474,731.30
Financial assets sold for repurchase
Deposits from customers and banks and other
financial institutions
Accounts payable to brokerage clients
Proceeds from underwriting securities received on
behalf of customers
Payroll payable	64,929,989.15	154,047,227.67
Taxes payable	332,052,951.16	667,596,993.65
Other payables	4,579,729,338.43	1,903,595,090.48
Including: Interest payables	89,820,021.32	110,357,378.94
Dividend payables	1,606,726,131.61	5,248,131.61
Reinsurance accounts payable
Insurance contract reserve payable
Amount paid for agency securities trading
Amount paid for agency securities underwriting
Liabilities held for sale
Non-current liabilities due within one year	1,663,121,996.74	1,573,591,950.79
Other current liabilities	1,251,722,676.69	1,992,513,387.33
Total current liabilities	16,141,549,034.80	13,763,845,384.33

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Non-current liabilities:
Provision for insurance contracts
Long-term loans	5,431,880,000.00	4,389,280,000.00
Bonds payable	5,860,810,460.26	5,836,509,724.72
Including: Preferred
Perpetual
Lease liabilities payable	72,492,795.76	76,479,854.36
Long-term payables	1,478,138,552.43	1,435,079,048.01
Long-term payroll payable	11,610,643.62	11,714,938.31
Provisions	567,511,335.15	575,737,863.71
Deferred income	470,467,545.48	484,316,534.20
Deferred income tax liabilities	224,678,845.81	224,965,355.43
Other non-current liabilities
Total non-current liabilities	14,117,590,178.51	13,034,083,318.74
Total liabilities	30,259,139,213.31	26,797,928,703.07
Owners' equity:
Share capital	1,347,522,914.00	1,347,522,914.00
Other equity instruments	3,445,909,665.47	3,445,909,665.47
Including: Preferred
Perpetual	2,983,018,867.89	2,983,018,867.89
Capital reserve	3,245,086,407.27	3,248,127,299.22
Less: Treasury shares
Other comprehensive income	-96,464,862.80	-85,887,006.79
Specific reserve	63,128,704.93	55,813,843.37
Surplus reserve	1,014,639,449.76	1,014,639,449.76
General risk provision
Retained earnings	8,582,402,873.17	8,684,888,407.20
Total equity attributable to owners of the parent	17,602,225,151.80	17,711,014,572.23
company
Minority interests	12,791,356,900.32	14,438,356,094.87
Total owners' equity	30,393,582,052.12	32,149,370,667.10
Total liabilities and owners' equity	60,652,721,265.43	58,947,299,370.17

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2 Consolidated Income Statement

Prepared by: Tangshan Jidong Cement Co., Ltd.

1 January 2021 to 31 March 2021

	Unit and Currency: RMB
	Amount for the	Amount for the
Item	previous reporting
reporting period
	period
I. Total operating revenue	5,095,831,046.37	3,099,743,882.17
Including: Operating revenue	5,095,831,046.37	3,099,743,882.17
Interest income
Premiums earned
Fees and commissions income
II. Total operating costs	5,183,328,317.24	3,555,033,787.78
Including: Operating costs	3,777,729,644.74	2,102,403,829.87
Interest expenses
Fees and commissions expenses
Surrenders
Net compensation expenses
Net insurance contract reserves
Insurance policy dividend expenses
Reinsurance expenses
Business tax and surcharges	87,618,464.96	72,411,903.73
Selling expenses	230,621,320.92	203,956,258.35
Administrative expenses	891,735,068.26	894,328,140.77
Research and development expenses	22,465,165.67	24,573,309.14
Finance costs	173,158,652.69	257,360,345.92
Including: interest expenses	192,062,284.99	278,829,699.04
Including: interest income	20,262,411.72	10,318,153.54
Add: Other Gains	70,062,246.45	38,555,244.69
Investment gains ("-" indicating loss)	18,679,828.49	-20,693,090.68
Including: Share of profits of associates and	18,679,620.51	-20,693,090.68
joint ventures
Financial assets measured at amortised costs
Foreign exchange gains ("-" indicating loss)
Net gains from hedging exposure ("-" indicating
loss)
Gains from changes in fair value ("-" indicating		0.00
loss)
Credit impairment losses ("-" indicating loss)	11,771,564.91	-1,380,621.72
Asset impairment losses ("-" indicating loss)	-1,656,919.39	5,004.00
Gain on disposal of assets ("-" indicating loss)	-540,845.81	786,607.18
III. Operating profit ("-" indicating loss)	10,818,603.78	-438,016,762.14
Add: Non-operating income	3,867,719.35	15,976,409.93
Less: Non-operating expenses	6,998,590.83	6,847,829.07
IV. Total profit ("-" indicating total loss)	7,687,732.30	-428,888,181.28
Less: Income tax expenses	30,113,498.38	-36,077,595.26
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V. Net profit ("-" indicating net loss)	-22,425,766.08	-392,810,586.02
(1) Classification according to nature of continuing
operation
1. Net profit from continuing operations ("-"	-22,425,766.08	-392,810,586.02
indicating net loss)
2. Net profit from discontinued operations ("-"
indicating net loss)
(2) Classification according to type of ownership
1. Net profit attributable to the owners of the	-51,485,534.03	-280,972,698.29
parent company
2. Gains/losses of minority interests	29,059,767.95	-111,837,887.73
VI. Other comprehensive income (net of tax)	-10,958,789.61	-9,091,207.50
Other comprehensive income (net of tax)	-10,577,856.01	-9,091,207.50
attributable to owners of the parent company
(1) Other comprehensive income that will not	-11,005,045.25	-8,949,795.36
be reclassified into profit or loss subsequently
1.	Changes arising from re-measurement of
net liabilities or net assets of defined benefit plans
2.	Share of other comprehensive income
(that will not be reclassified to profit or loss) of
investees accounted for using equity method
3.	Changes in fair value arising from other	-11,005,045.25	-8,949,795.36
equity instruments investments
4.	Changes in fair value arising from the
enterprise's credit risk
5.	Others
(2) Other comprehensive income that will be	427,189.24	-141,412.14
reclassified to profit or loss
1.	Comprehensive income (that will be
reclassified to profit or loss) accounted for using	427,189.24	-141,412.14
equity method
2.	Gains or losses arising from changes in
fair value of other debt investments
3.	Gains or losses arising from changes in
fair value of available-for-sale financial assets
4.	Financial assets reclassified as other
comprehensive income
5.	Held-to-maturity investment recorded as
other comprehensive income
6.	Credit impairment arising from other debt
investments
7.	Hedging reserve arising from cash flows
hedging
8.	Exchange differences on foreign currency
translation
9.	Others
Other comprehensive income (net of tax)	-380,933.60
attributable to minority interests

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VII. Total comprehensive income		-33,384,555.69	-401,901,793.52
Total comprehensive	income attributable to	the	-62,063,390.04	-290,063,905.79
owners of the parent company
Total comprehensive	income attributable to	28,678,834.35	-111,837,887.73
minority interests
VIII. Earnings per share:
(1) Basic earnings per share (RMB/share)		-0.076	-0.246
(2) Diluted earnings per share (RMB/share)		-0.061	-0.246

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3 Consolidated Statement of Cash Flows

Prepared by: Tangshan Jidong Cement Co., Ltd.

1 January 2021 to 31 March 2021

Unit and Currency: RMB

Item	Amount for the reporting	Amount for the previous
period	reporting period
I. Cash flows from operating activities:
Cash received from sale of goods and	5,485,612,640.25	3,447,873,342.37
rendering of services
Net increase in deposits from customers and
inter-bank deposits
Net increase in borrowings from central
bank
Net increase in loans from other financial
institutions
Cash received as premiums of original
insurance contracts
Net cash received from reinsurance business
Net increase in policy holder deposits and
investment
Net increase in disposal of financial assets at
fair value through profit or loss
Cash received from interests, fees and
commissions
Net increase in loans from banks and other
financial institutions
Net increase in capital from repurchase
business
Refund of taxes and levies	42,544,344.04	15,101,116.02
Cash received from other operating activities	212,109,192.86	215,461,396.87
Subtotal of cash inflows from operating	5,740,266,177.15	3,678,435,855.26
activities

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Cash paid	for	purchasing	goods	and	3,281,393,195.13	2,149,277,538.32
receiving services
Net increase in customers' loans and
advances
Net increase in deposits in central bank and
inter-bank deposits
Cash paid for compensation payout under
original insurance contracts
Cash paid for interests, fees and
commissions
Cash paid for policy dividends
Cash paid	to	and	for	the	benefit	of	943,637,777.60	816,174,149.20
employees
Taxes and levies paid						752,941,709.49	635,547,705.73
Cash paid for other operating activities		344,287,114.56	331,744,605.20
Subtotal of cash outflows from operating	5,322,259,796.78	3,932,743,998.45
activities
Net cash flows	arising	from	operating	418,006,380.37	-254,308,143.19
activities
II. Cash flows from investing activities:
Cash received from redemption of
investments
Cash received from return on investments
Net cash received from disposal of fixed
assets, intangible assets and other long-term	9,299,510.54	4,687,503.63
assets
Net cash	received	from	disposal	of		4,173,428.03
subsidiaries and other business entities
Cash received from other investing activities		44,057,582.00
Subtotal of cash	inflows	from	investing	9,299,510.54	52,918,513.66
activities
Cash paid	for	acquisition	of	fixed assets,	419,089,300.29	239,754,954.53
intangible assets and other long-term assets
Cash paid for investments					14,504,706.00
Net increase in pledged loans
Net cash paid for acquisition of subsidiaries
and other business entities
Cash paid for other investing activities
Subtotal of cash outflows from investing	433,594,006.29	239,754,954.53
activities
Net cash	flows	arising	from	investing	-424,294,495.75	-186,836,440.87
activities

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III. Cash flows from financing activities:
Cash received from capital contributions
Including: Cash received by subsidiaries
from investments of minority interests
Cash received from borrowings			4,086,000,000.00	2,943,000,000.00
Cash received from other financing activities	297,760,253.52	1,879,114,885.13
Subtotal	of cash inflows	from	financing	4,383,760,253.52	4,822,114,885.13
activities
Cash paid for debts settlement			933,880,000.00	1,865,445,000.00
Cash paid for the distribution of dividends,	185,152,937.51	236,434,402.62
profits or interest payments
Including: Dividends	and	profits paid by	37,800,000.00	800,000.00
subsidiaries to minority interests
Cash paid for other financing activities		1,264,010,336.54	424,861,994.77
Subtotal of cash outflows from financing	2,383,043,274.05	2,526,741,397.39
activities
Net cash	flows arising	from	financing	2,000,716,979.47	2,295,373,487.74
activities
IV. Effects of exchange rate fluctuations
on cash and cash equivalents
V. Net	increase	in	cash and	cash	1,994,428,864.09	1,854,228,903.68
equivalents
Add: Opening balance	of	cash	and	cash	5,598,793,030.35	5,717,932,733.55
equivalents
VI. Closing balance	of	cash	and	cash	7,593,221,894.44	7,572,161,637.23
equivalents

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