BBMG : OVERSEAS REGULATORY ANNOUNCEMENT - ANNOUNCEMENT REGARDING THE PUBLICATION OF JIDONG CEMENT 2020 INTERIM REPORT

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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

JIDONG CEMENT 2020 INTERIM REPORT

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., published the "Jidong Cement 2020 Interim Report" (《冀東水泥 2020 年半年度報告》) 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 13 August 2020.

Please also refer to the relevant major financial statements from the Jidong Cement 2020 Interim Report ( 《冀東水泥 2020 年半年度報告》) 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*

Jiang Deyi

Chairman

Beijing, the PRC, 14 August 2020

As at the date of this announcement, the executive directors of the Company are Jiang Deyi, Wu Dong and Zheng Baojin; the non-executive directors of the Company are Guo Yanming 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 30 June 2020

Unit and Currency: RMB

Item		30 June 2020	31 December 2019
Current Assets:
Cash and bank balances		6,022,490,032.61	5,979,047,618.68
Settlement reserves
Loans to banks or other financial institutions
Held for trading financial assets
Derivative financial assets
Bills receivable		132,971,741.04	4,642,648,245.14
Accounts receivable		2,223,330,309.33	2,025,943,635.02
Accounts receivable financing		3,602,573,509.46
Advances to suppliers		1,313,337,370.50	701,468,150.10
Premiums receivable
Reinsurance accounts receivable
Reinsurance contract reserve receivable
Other receivables		594,077,842.37	705,279,630.25
Including: Interest receivables
Dividend receivables
Purchase and sell-back of financial assets
Inventories		3,155,711,147.07	2,872,346,139.16
Contract assets
Assets held for sale
Non-current assets due within one year
Other current assets		376,145,045.91	480,238,986.77
Total current assets		17,420,636,998.29	17,406,972,405.12
Non-current assets:
Loans and advances
Debt investments
Available-for-sale financial assets
Other debt investments
Long-term receivables
Long-term equity investments		1,570,642,590.65	1,765,731,066.28
Other instruments in equity instruments		319,949,473.73	350,286,227.86
Other non-current financial assets
Investment properties
Fixed assets		31,694,341,035.75	32,615,935,647.55
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Construction in progress	1,087,432,270.83	785,968,703.90
Productive biological assets
Oil and gas assets
Right-of-use assets	216,350,019.26	241,683,739.02
Intangible assets	5,142,570,930.51	5,208,177,789.43
Development expenses
Goodwill	311,019,966.70	311,019,966.70
Long-term prepaid expenses	1,184,258,747.26	1,077,807,563.94
Deferred tax assets	818,208,238.33	799,201,973.21
Other non-current assets	216,168,941.38	170,710,632.05
Total non-current assets	42,560,942,214.40	43,326,523,309.94
Total assets	59,981,579,212.69	60,733,495,715.06
Current liabilities:
Short-term loans	5,255,813,205.80	7,600,836,930.30
Borrowings from central bank
Loans from banks and other financial institutions
Held for trading financial liabilities
Derivative financial liabilities
Bills payable	424,073,723.80	336,232,873.98
Accounts payable	5,255,813,205.80	4,769,868,559.21
Receipts in advance
Contract liabilities	1,225,078,691.36	738,025,776.55
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	72,599,129.87	203,385,306.78
Taxes payable	757,158,816.06	614,371,396.94
Other payables	4,535,661,823.77	3,400,633,508.52
Including: Interest payables	130,278,799.94	139,480,023.27
Dividend payables	202,649,731.61	8,448,131.61
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	1,110,777,693.96	3,067,668,809.06
Other current liabilities	3,007,133,557.24	1,677,959,043.33
Total current liabilities	20,698,800,741.33	22,408,982,204.67

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Non-current liabilities:
Provision for insurance contracts
Long-term loans	3,612,700,000.00	2,375,000,000.00
Bonds payable	3,492,347,730.60	3,491,301,200.19
Including: Preferred
Perpetual
Lease liabilities payable	74,585,447.34	87,831,513.25
Long-term payables	2,188,867,583.44	2,195,466,413.80
Long-term payroll payable	18,600,677.56	18,867,223.66
Provisions	633,177,997.80	567,947,564.05
Deferred income	480,429,225.07	496,580,267.98
Deferred income tax liabilities	228,628,653.42	253,554,451.83
Other non-current liabilities
Total non-current liabilities	10,729,337,315.23	9,486,548,634.76
Total liabilities	31,428,138,056.56	31,895,530,839.43
Owners' equity:
Share capital	1,347,522,914.00	1,347,522,914.00
Other equity instruments	2,983,018,867.89	2,983,018,867.89
Including: Preferred
Perpetual	2,983,018,867.89	2,983,018,867.89
Capital reserve	3,266,560,496.27	3,329,428,524.94
Less: Treasury shares
Other comprehensive income	-101,784,230.16	-79,138,936.75
Specific reserve	57,414,391.55	43,020,360.85
Surplus reserve	1,014,639,449.76	1,014,639,449.76
General risk provision
Retained earnings	6,937,501,730.62	6,712,639,014.69
Total equity attributable to owners of the parent	15,504,873,619.93	15,351,130,195.38
company
Minority interests	13,048,567,536.20	13,486,834,680.25
Total owners' equity	28,553,441,156.13	28,837,964,875.63
Total liabilities and owners' equity	59,981,579,212.69	60,733,495,715.06

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2 Consolidated Income Statement

Prepared by: Tangshan Jidong Cement Co., Ltd.

1 January 2020 to 30 June 2020

Unit and Currency: RMB

Item	For the half year of	For the half year of
2020	2019
I. Total operating revenue	14,253,045,955.78	16,176,606,103.94
Including: Operating revenue	14,253,045,955.78	16,176,606,103.94
Interest income
Premiums earned
Fees and commissions income
II. Total operating costs	12,280,784,235.70	13,530,291,863.81
Including: Operating costs	9,276,935,335.44	10,110,096,726.44
Interest expenses
Fees and commissions expenses
Surrenders
Net compensation expenses
Net insurance contract reserves
Insurance policy dividend expenses
Reinsurance expenses
Business tax and surcharges	220,591,828.84	251,712,524.09
Selling expenses	532,958,613.39	594,858,151.24
Administrative expenses	1,690,278,539.12	1,860,937,362.35
Research and development expenses	66,061,766.31	64,249,241.95
Finance costs	493,958,152.60	648,437,857.74
Including: interest expenses	540,575,960.77	661,976,312.84
Including: interest income	48,264,783.09	35,589,998.29
Add: Other Gains	252,278,863.76	312,167,931.92
Investment gains ("-" indicating loss)	208,181,877.48	196,237,034.32
Including: Share of profits of associates and	199,148,829.41	206,923,648.73
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	10,795,338.76
loss)
Credit impairment losses ("-" indicating loss)	-46,065,039.81	-20,706,654.64
Asset impairment losses ("-" indicating loss)	0.00	-2,040,641.08
Gain on disposal of assets ("-" indicating loss)	1,619,964.73	10,391,833.41
III. Operating profit ("-" indicating loss)	2,388,277,386.24	3,153,159,082.82
Add: Non-operating income	48,069,171.85	17,258,486.27
Less: Non-operating expenses	28,172,054.22	9,898,543.73
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IV. Total profit ("-" indicating total loss)	2,408,174,503.87	3,160,519,025.36
Less: Income tax expenses	578,988,704.01	595,400,938.30
V. Net profit ("-" indicating net loss)	1,829,185,799.86	2,565,118,087.06
(1) Classification according to nature of continuing
operation
1. Net profit from continuing operations ("-"	1,829,185,799.86	2,565,118,087.06
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	1,000,624,172.93	1,492,280,089.05
parent company
2. Gains/losses of minority interests	828,561,626.93	1,072,837,998.01
VI. Other comprehensive income (net of tax)	-22,645,293.41	-4,437,896.85
Other comprehensive income (net of tax)	-22,645,293.41	-4,437,896.85
attributable to owners of the parent company
(1) Other comprehensive income that will not	-22,742,988.37	-3,871,212.13
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	-22,742,988.37	-3,871,212.13
equity instruments investments
4.	Changes in fair value arising from the
enterprise's credit risk
5.	Others
(2) Other comprehensive income that will be	97,694.96	-566,684.72
reclassified to profit or loss
1.	Comprehensive income (that will be
reclassified to profit or loss) accounted for using	97,694.96	-566,684.72
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
	- 6 -

translation
9. Others
Other comprehensive income (net of tax)		0.00
attributable to minority interests
VII. Total comprehensive income		1,806,540,506.45	2,560,680,190.21
Total comprehensive	income attributable to	the	977,978,879.52	1,487,842,192.20
owners of the parent company
Total comprehensive	income attributable	to	828,561,626.93	1,072,837,998.01
minority interests
VIII. Earnings per share:
(1) Basic earnings per share (RMB/share)		0.6669	1.0317
(2) Diluted earnings per share (RMB/share)		0.6669	1.0317

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3 Consolidated Statement of Cash Flows

Prepared by: Tangshan Jidong Cement Co., Ltd.

1 January 2020 to 30 June 2020

Unit and Currency: RMB

Item	For the half year of 2020	For the half year of 2019
I. Cash flows from operating activities:
Cash received from sale of goods and	13,079,284,663.77	10,864,534,230.17
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	130,656,081.18	178,743,261.70
Cash received from other operating activities	343,227,165.77	431,599,484.46
Subtotal of cash inflows from operating	13,553,167,910.72	11,474,876,976.33
activities

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Cash paid	for	purchasing	goods	and	6,310,530,854.03	3,831,768,461.58
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	1,368,555,163.84	1,483,626,401.31
employees
Taxes and levies paid						1,433,571,271.63	1,838,477,364.29
Cash paid for other operating activities		486,962,595.39	571,295,205.63
Subtotal of cash outflows from operating	9,599,619,884.89	7,725,167,432.81
activities
Net cash flows	arising	from	operating	3,953,548,025.83	3,749,709,543.52
activities
II. Cash flows from investing activities:
Cash received	from	redemption	of		34,867,041.76
investments
Cash received from return on investments	394,356,659.51	356,848,301.63
Net cash received from disposal of fixed
assets, intangible assets and other long-term	16,009,673.88	19,227,148.19
assets
Net cash	received	from	disposal	of	56,743,244.03	669,350,973.33
subsidiaries and other business entities
Cash received from other investing activities	57,825,446.00	3,710,000.00
Subtotal of cash	inflows	from	investing	524,935,023.42	1,084,003,464.91
activities
Cash paid	for	acquisition	of	fixed assets,	1,133,852,796.58	460,187,464.37
intangible assets and other long-term assets
Cash paid for investments					50,699,129.96	20,810,000.00
Net increase in pledged loans
Net cash paid for acquisition of subsidiaries		1,573,621,837.56
and other business entities
Cash paid for other investing activities			46,014.41
Subtotal of cash outflows from investing	1,184,551,926.54	2,054,665,316.34
activities
Net cash	flows	arising	from	investing	-659,616,903.12	-970,661,851.43
activities

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III. Cash flows from financing activities:
Cash received from capital contributions		3,754,000.00
Including:	Cash received	by	subsidiaries		3,754,000.00
from investments of minority interests
Cash received from borrowings				4,108,200,000.00	9,111,053,800.00
Cash received from other financing activities	3,093,114,885.13	3,050,045,136.73
Subtotal of cash inflows	from	financing	7,201,314,885.13	12,164,852,936.73
activities
Cash paid for debts settlement				5,571,195,000.00	15,517,461,205.73
Cash paid for the distribution of dividends,	2,212,855,654.42	2,091,144,796.51
profits or interest payments
Including: Dividends	and	profits paid by	1,138,053,255.17	1,053,357,757.06
subsidiaries to minority interests
Cash paid for other financing activities		2,704,150,981.31	1,230,215,958.35
Subtotal of cash outflows from financing	10,488,201,635.73	18,838,821,960.59
activities
Net cash	flows arising	from	financing	-3,286,886,750.60	-6,673,969,023.86
activities
IV. Effects of exchange rate fluctuations
on cash and cash equivalents
V. Net	increase	in	cash	and	cash	7,044,372.11	-3,894,921,331.77
equivalents
Add: Opening balance	of	cash	and	cash	5,717,932,733.55	9,801,864,296.47
equivalents
VI. Closing balance	of	cash	and	cash	5,724,977,105.66	5,906,942,964.70
equivalents

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