China Energy Engineering : ANNOUNCEMENT INSIDE INFORMATION

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.

中 國 能 源 建 設 股 份 有 限 公 司

CHINA ENERGY ENGINEERING CORPORATION LIMITED*

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

(Stock Code: 3996)

ANNOUNCEMENT

INSIDE INFORMATION

The announcement is made by China Energy Engineering Corporation Limited (the "Company") pursuant to Rule 13.09 of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited and the provisions of inside information under Part XIVA of the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong).

Pursuant to the Listing Rules of the Shanghai Stock Exchange, China Gezhouba Group Stock Company Limited (中國葛洲霸集團股份有限公司) ("CGGC"), a subsidiary of the Company, published its

unaudited 2019 third quarterly report for the nine months ended 30 September 2019 (the "CGGC Quarterly Report") on the website of the Shanghai Stock Exchange, a reproduction of which is enclosed to this announcement. For the avoidance of doubt, the "Company" contained in the CGGC Quarterly Report refers to CGGC. The CGGC Quarterly Report is originally prepared in Chinese. In case of any inconsistency between the Chinese version and English version, the Chinese version shall prevail.

Shareholders of the Company and potential investors should exercise caution when trading in the shares of the Company.

By order of the Board

CHINA ENERGY ENGINEERING CORPORATION LIMITED*

Wang Jianping

Chairman

Beijing, the PRC

30 October 2019

As at the date of this announcement, the executive directors of the Company are Mr. Wang Jianping, Mr. Ding Yanzhang and Mr. Zhang Xianchong; the non-executive directors are Mr. Ma Chuanjing, Mr. Liu Xueshi and Mr. Si Xinbo; and the independent non-executive directors are Mr. Ding Yuanchen, Mr. Zheng Qiyu and Mr. Cheung Yuk Ming.

* For identification purpose only

- 1 -

Stock Code: 600068

Abbreviation of Stock: Gezhouba

China Gezhouba Group Stock Company Limited

2019 Third Quarterly Report

- 2 -

	CONTENTS
I.	IMPORTANT NOTICES . . . . . . . . . . . . . . . . . . . . . .	4
II.	BASIC INFORMATION OF THE COMPANY . . . . . . . . . . . . .	5
III.	SIGNIFICANT EVENTS . . . . . . . . . . . . . . . . . . . . . .	11
IV.	APPENDICES . . . . . . . . . . . . . . . . . . . . . . . . . .	14

- 3 -

1. IMPORTANT NOTICES

1. The board of directors, the board of supervisors, and the directors, supervisors and senior management ensure that the content of the quarterly report is true, accurate and complete, there are no false representations, misleading statements contained or major omissions, and severally and jointly accept full legal liability.
2. Absent Directors

Name of director	Position of director
absent	absent	Reason for absence	Name of proxy
Lian Yongjiu	Director	Private affairs	Duan Qiurong
Guo Chengzhou	Director	Private affairs	Chen Xiaohua

1. Chen Xiaohua, person in charge of the Company, Wang Yihuai, chief accountant, and Lu Zhongnian, person in charge of accounting (accounting supervisor), ensure that the financial statements in the quarterly report are true, accurate and complete.
2. The Company's third quarterly report is not audited.

- 4 -

1. BASIC INFORMATION OF THE COMPANY

2.1 Major financial data

Unit: Yuan  Currency: RMB

			Increase/decrease
			at the end of the
			reporting period as
	End of the		compared to the end
	reporting period	End of last year	of previous year (%)
Total assets	231,175,654,768.77	218,209,265,921.73	5.94
Net assets attributable to
shareholders of the listed
Company	45,465,871,785.69	42,803,990,684.04	6.22
	Amount for the	Amount for the
	beginning of the	beginning of the	Increase/decrease
	year through the	last year through the	as compared to
	end of the reporting	end of the reporting	the corresponding
	period (January-	period of last year	period of the
	September)	(January-September)	previous year (%)
Net cash flow from operating
activities	2,089,964,501.99	-3,293,024,256.72	N/A
		Amount from the
	Amount from the	beginning of the	Increase/decrease
	beginning of the	last year through the	as compared to
	year to the end of	end of the reporting	the corresponding
	the reporting period	period of last year	period of the
	(January-September)	(January-September)	previous year (%)
Operating revenue	72,977,026,642.90	67,421,959,822.86	8.24
Net profit attributable to
shareholders of the listed
Company	3,198,116,793.78	2,787,060,170.36	14.75
Net profit after deducting
non-recurring profit or loss
attributable to shareholders of
the listed Company	3,075,995,535.98	2,627,197,620.41	17.08
Weighted average return rate			Increased by 0.322
on net assets (%)	9.533	9.211	percentage point
Basic earnings per share
(RMB/share)	0.582	0.512	13.67
Diluted earnings per share
(RMB/share)	0.582	0.512	13.67

- 5 -

Non-recurring profit or loss items and amount Applicable   Not Applicable

		Unit: Yuan	Currency: RMB
		Amount for the
		beginning of the
		year through the
	Amount for the	end of the reporting
	current period	period
Item	(July-September)	(January-September)	Description
Profit or loss on the disposal of
non-current assets	109,402,175.83	101,088,212.19
Tax rebate or tax concessions with
unauthorised approval or without
official approval documents or
on an occasional basis
Government subsidies included
in profit or loss for the current
period, but excluding the
sustained quota subsidized
according to the state policies
that are closely relevant to the
Company's normal business	13,118,173.64	76,012,872.61
Fund possession cost received
from non-financial enterprises
and included in profit or loss for
the current period
Profit arising from investment cost
for acquisition of subsidiaries,
associates and joint ventures less
than the fair value of identifiable
net assets of the invested entity
at the time of acquisition
Profit or loss from exchange of
non-monetary assets
Profit or loss from discretionary
investment or asset management

- 6 -

		Amount for the
		beginning of the
		year through the
	Amount for the	end of the reporting
	current period	period
Item	(July-September)	(January-September)	Description
Provision for impairment of assets
due to force majeure such as
natural disaster
Profit or loss from debt
restructuring
Corporate restructuring expenses,
such as expenses on employee
placement, integration costs, etc.
Profit or loss from the excess of
the fair value of a transaction
with unfair consideration
Current net profit or loss of
subsidiaries resulting from
merger of enterprises under
common control from the
beginning of the period to the
date of merger
Profit or loss from contingencies
irrelevant to the Company's
normal business
Profit or loss from changes in
fair value resulted from holding
of the trading financial assets,
derivative financial assets,
trading financial liabilities,
derivative financial liabilities
and investment income
on disposal of the trading
financial assets, derivative
financial assets, trading
financial liabilities, derivative
financial liabilities and other
debt investments, except the
effective hedging related to the
Company's normal business		-39,418.77

- 7 -

		Amount for the
		beginning of the
		year through the
	Amount for the	end of the reporting
	current period	period
Item	(July-September)	(January-September)	Description
Write back of the provision for
impairment of receivables
and contract assets that
are individually tested for
impairment
Profit or loss from external
entrusted loans
Profit or loss from changes in fair
value of investment properties
using the fair value model for
subsequent measurement
Effect of one-off adjustment
to current profit or loss in
accordance with laws and
regulations on taxation and
accounting, etc.
Income of entrustment fees from
entrusted operations
Other non-operating income and
expense besides items above	-4,968,785.58	-1,546,222.39
Other profit or loss items falling
within the meaning of non-
recurring profit or loss
Effect of minority interests
(after tax)	-2,008,343.90	-13,606,788.80
Effect of income tax	-28,749,870.13	-39,787,397.04
Total	86,793,349.86	122,121,257.80

- 8 -

2.2 Shareholdings of the total shareholders, the top ten shareholders and top ten holders of tradable shares (or holders of shares not subject to selling restrictions) as at the end of the reporting period

								Unit: Share
Total shareholders (household)							257,701
	Shareholdings of the Top Ten Shareholders
	Number of					Pledged or
					frozen shares
	shares held as		Number of shares
Name of shareholder	at the end of	Proportion	held subject to		Status of	Number	Class of
(in full name)	the period	(%)	selling restrictions		the shares	of shares	shareholder
China Gezhouba Group								State-owned
Company Limited	1,949,448,239	42.34	0		Nil	0	legal person
China Securities Finance								State-owned
Corporation Limited	138,343,785	3.00	0		Nil	0	legal person
Central Huijin Asset
Management Limited								State-owned
Liability Company	70,785,800	1.54	0		Nil	0	legal person
Hong Kong Securities
Clearing Company
Limited	43,936,760	0.95	0		Nil	0	Other
The National Social
Security Fund 106
Composition	35,701,664	0.78	0		Nil	0	Other
The National Social
Security Fund 107
Composition	32,761,389	0.71	0		Nil	0	Other
								Domestic
Yan Xiaohu	31,493,134	0.68	0		Nil	0	natural person
China Merchants Bank
Co., Ltd. - Bosera
China Securities
Central Enterprises
Structural Adjustment
Traded Open-end Index
Securities Investment
Fund	18,717,100	0.41	0		Nil	0	Other
The National Social
Security Fund 103
Composition	18,000,000	0.39	0		Nil	0	Other
Norges Bank - Own Funds	15,799,862	0.34	0		Nil	0	Other

- 9 -

Top Ten Holders of Shares Not Subject to Selling Restrictions

	Number of shares	Class and number of shares
	held not subject to
Name of shareholder	selling restrictions	Class	Number
China Gezhouba Group Company Limited	1,949,448,239	RMB ordinary shares	1,949,448,239
China Securities Finance Corporation Limited	138,343,785	RMB ordinary shares	138,343,785
Central Huijin Asset Management Limited Liability
Company	70,785,800	RMB ordinary shares	70,785,800
Hong Kong Securities Clearing Company Limited	43,936,760	RMB ordinary shares	43,936,760
The National Social Security Fund 106 Composition	35,701,664	RMB ordinary shares	35,701,664
The National Social Security Fund 107 Composition	32,761,389	RMB ordinary shares	32,761,389
Yan Xiaohu	31,493,134	RMB ordinary shares	31,493,134
China Merchants Bank Co., Ltd. - Bosera China
Securities Central Enterprises Structural
Adjustment Traded Open-end Index Securities
Investment Fund	18,717,100	RMB ordinary shares	18,717,100
The National Social Security Fund 103 Composition	18,000,000	RMB ordinary shares	18,000,000
Norges Bank - Own Funds	15,799,862	RMB ordinary shares	15,799,862
Description on the connected relationship or acting in	Among the top ten shareholders, the first shareholder is not
concert of the above shareholders	connected to other shareholders. The Company is not aware
	whether there are other shareholders who are connected to each
	other or acting in concert.
Descriptions on the preferential shareholders with	N/A
resumed voting rights and number of shares held

2.3 Shareholdings of the total holders of preference shares, the top ten holders of preference shares and top ten holders of preference shares not subject to selling restrictions as at the end of the reporting period

• Applicable  Not Applicable

- 10 -

III. SIGNIFICANT EVENTS

3.1 Information on material changes in major accounting statement items and financial indicators of the Company and the causes thereof

• Applicable   Not Applicable

1. Items of Balance Sheet

					Unit: Yuan	Currency: RMB
					Changes in the
					amount for the
					current period as
		Percentage of			compared to the
		amount at the		Percentage of	amount for the
	Amount at the	end of the current		amount at the end	corresponding
	end of the current	period over total	Amount at the end	of last period over	period of last year
Item	period	assets (%)	of the last period	total assets (%)	(%)	Reasons for changes
Long-term equity	18,754,678,653.88	8.11	14,159,585,398.17	6.49	32.45	Mainly due to the
investments						increase in investment
						in PPP projects of
						associates and joint
						ventures
Bills payables	4,440,768,998.71	1.92	2,717,201,183.75	1.25	63.43	Mainly due to the
						increase in issuance of
						acceptance bills for the
						current period
Contract	21,798,646,910.85	9.43	14,556,285,412.84	6.67	49.75	Mainly due to the
liabilities						increase in advances
						from house sales and
						construction
Non-current	6,898,815,022.39	2.98	12,195,692,656.14	5.59	-43.43	Mainly due to the
liabilities due						decrease in repayment
within one year						of long-term
						borrowings due within
						one year
Bonds payables	12,550,000,000.00	5.43	9,150,000,000.00	4.19	37.16	Mainly due to the
						increase in bond
						issuance for the current
						period
Other	-197,090,358.54	-0.09	-372,768,899.26	-0.17	-47.13	Mainly due to the
comprehensive						change of fair value of
income						other investments in
						equity instruments and
						the foreign exchange
						differences

- 11 -

2. Items of Profit Statement

Unit: Yuan  Currency: RMB

			Changes in the
			amount for the
			current period
			as compared
			to the amount
		Amount for the	for the
		corresponding	corresponding
	Amount for the	period of last	period of last
Item	current period	year	year (%)	Reasons for changes
Gain from	811,015,503.47	629,734,267.62	28.79	Mainly due to the
investment				increase in gain from
				investment in associates
				and joint ventures

3. Items of Cash Flow Statement

Unit: Yuan  Currency: RMB

			Changes in the
			amount for the
			current period
			as compared
			to the amount
		Amount for the	for the
		corresponding	corresponding
	Amount for the	period of last	period of last
Item	current period	year	year (%)	Reasons for changes
Net cash	2,089,964,501.99	-3,293,024,256.72	N/A	Mainly due to the
flow from				decrease in investment
operating				in real estate business
activities				for the current period
				compared with the last
				period
Net cash	-6,551,844,632.06	-9,984,647,001.33	N/A	Mainly due to the
flow from				decrease in cash payment
investing				for external investment
activities				for the current period
Net cash	3,852,974.52	9,488,110,623.68	-99.96	Mainly due to the
flow from				significant decrease
financing				in cash inflow from
activities				borrowings for the current
				period compared to last
				period

- 12 -

3.2 Progress of significant events and their effect and analysis on the solution

• Applicable  Not Applicable

3.3 Unfulfilled commitments during the reporting period

• Applicable  Not Applicable

3.4 Warning of the prediction that the cumulative net profits from the beginning of the year to the end of the next reporting period may be a loss or a significant change as compared with the corresponding period of last year and the causes thereof

• Applicable  Not Applicable

Name of company	China Gezhouba Group Stock Company Limited
Legal representative	Chen Xiaohua
Date	29 October 2019

- 13 -

IV. APPENDICES

4.1 Financial Statements

CONSOLIDATED BALANCE SHEET

30 September 2019

Prepared by: China Gezhouba Group Stock Company Limited

Unit: Yuan Currency: RMB Type of audit: Unaudited

Item	30 September 2019	31 December 2018
Current assets:
Monetary assets	14,938,272,387.73	19,547,502,663.21
Settlement reserves
Call money
Trading financial assets
Financial assets at fair value through profit or
loss in the current period
Derivative financial assets
Bills receivables	2,885,184,644.56	3,475,032,065.02
Trade receivables	15,437,227,156.22	15,270,815,875.78
Receivables financing
Prepayments	9,169,893,315.02	7,869,566,730.21
Premiums receivable
Reinsurance accounts receivable
Reinsurance contract reserve receivable
Other receivables	10,633,424,288.30	10,702,509,036.51
Including: Interest receivables	251,300.00	251,300.00
Dividends receivables
Purchase and sell-back of financial assets
Inventories	52,371,396,841.61	52,197,618,110.17
Contract assets	19,837,387,203.51	17,063,346,979.33
Assets held for sale
Non-current assets due within one year	1,206,896,675.79	1,071,855,569.69
Other current assets	3,679,301,061.62	2,579,085,047.67
Total current assets	130,158,983,574.36	129,777,332,077.59

- 14 -

Item	30 September 2019	31 December 2018
Non-current assets:
Provision of loans and advances
Debt investment
Available-for-sale financial assets
Other debt investment
Held-to-maturity investments
Long-term receivables	16,585,155,955.47	15,274,561,016.63
Long-term equity investments	18,754,678,653.88	14,159,585,398.17
Other investments in equity instruments	951,154,064.00	699,777,632.80
Other non-current financial assets	5,299,895,082.63	5,213,561,990.40
Investment properties	52,775,086.68	38,252,959.50
Fixed assets	16,806,769,533.72	17,107,206,656.89
Construction in progress	22,104,888,214.46	16,089,509,517.57
Productive biological assets
Oil and gas assets
Right-of-use assets	660,133,802.29
Intangible assets	16,412,528,192.61	16,682,985,922.94
Development expenditure	239,553,081.75	202,447,664.50
Goodwill	1,539,598,450.11	1,539,598,450.11
Long-term prepaid expenses	475,986,978.80	599,559,732.77
Deferred income tax assets	850,673,682.35	732,356,187.10
Other non-current assets	282,880,415.66	92,530,714.76
Total non-current assets	101,016,671,194.41	88,431,933,844.14
Total assets	231,175,654,768.77	218,209,265,921.73

- 15 -

Item	30 September 2019	31 December 2018
Current liabilities:
Short-term borrowings	26,556,776,710.51	29,614,035,130.24
Borrowings from the central bank
Loans from banks and other financial institutions
Trading financial liabilities
Financial liabilities at fair value through profit or
loss in the current period
Derivative financial liabilities
Bills payables	4,440,768,998.71	2,717,201,183.75
Trade payables	31,978,999,488.76	35,919,651,842.71
Receipts in advance
Proceeds from disposal of repurchased financial
assets
Deposits from customers and interbank deposits
Amount paid for agency securities trading
Amount paid for agency securities underwriting
Salary payable to employees	322,737,203.10	258,349,996.38
Tax payables	1,830,196,564.36	2,530,455,699.97
Other payables	19,903,544,675.18	20,153,423,281.23
Including: Interest payables	1,150,130,029.62	1,304,487,613.85
Dividends payables	295,952,059.17	354,597,848.64
Fee and commission payable
Reinsurance accounts payable
Contract liabilities	21,798,646,910.85	14,556,285,412.84
Liabilities held for sale
Non-current liabilities due within one year	6,898,815,022.39	12,195,692,656.14
Other current liabilities	472,697.98	18,743,979.57
Total current liabilities	113,730,958,271.84	117,963,839,182.83

- 16 -

Item	30 September 2019	31 December 2018
Non-current liabilities:
Reserve fund for insurance contracts
Long-term borrowings	40,803,568,962.06	31,782,735,313.26
Bonds payables	12,550,000,000.00	9,150,000,000.00
Including: Preferred shares
Perpetual bonds
Lease liabilities	317,583,515.99
Long-term payables	567,222,781.21	665,207,834.57
Long-term salary payable to employees	2,165,345,299.99	2,162,107,000.00
Anticipated liabilities	46,135,882.67
Deferred revenue	245,145,263.73	253,966,732.97
Deferred income tax liabilities	1,201,571,192.00	1,061,867,980.96
Other non-current liabilities	89,849,128.38	84,914,215.68
Total non-current liabilities	57,986,422,026.03	45,160,799,077.44
Total liabilities	171,717,380,297.87	163,124,638,260.27

- 17 -

Item		30 September 2019	31 December 2018
Equity attributable to the owners (or
shareholders' equity)
Paid-up capital (or share capital)	4,604,777,412.00	4,604,777,412.00
Other equity instruments		16,500,000,000.00	16,000,000,000.00
Including: Preferred shares
Perpetual bonds		16,500,000,000.00	16,000,000,000.00
Capital reserves		7,627,454,598.65	7,511,468,750.95
Less: Treasury shares
Other comprehensive income		-197,090,358.54	-372,768,899.26
Special reserve		104,967,420.88	86,232,567.27
Surplus reserves		1,582,944,663.22	1,582,944,663.22
Provision for general risk
Retained profit		15,242,818,049.48	13,391,336,189.86
Total equity attributable to owners of the parent
company (or shareholders' equity)	45,465,871,785.69	42,803,990,684.04
Minority interests		13,992,402,685.21	12,280,636,977.42
Total equity attributable to the owners (or
shareholders' equity)		59,458,274,470.90	55,084,627,661.46
Total liabilities and equity attributable to the
owners (or shareholders' equity)	231,175,654,768.77	218,209,265,921.73
Legal representative:	Chief accountant:	Responsible person of accounting agency:
Chen Xiaohua	Wang Yihuai	Lu Zhongnian

- 18 -

BALANCE SHEET OF THE PARENT COMPANY

30 September 2019

Prepared by: China Gezhouba Group Stock Company Limited

Unit: Yuan Currency: RMB Type of audit: Unaudited

Item	30 September 2019	31 December 2018
Current assets:
Monetary assets	3,352,873,739.70	8,237,724,678.67
Trading financial assets
Financial assets at fair value through profit or loss
in the current period
Derivative financial assets
Bills receivables	300,000,000.00	230,279,649.00
Trade receivables	5,601,245,591.51	6,981,000,759.27
Receivables financing
Prepayments	3,431,852,393.89	2,029,909,088.31
Other receivables	42,237,374,076.85	40,488,889,903.83
Including: Interest receivables
Dividends receivables
Inventories	663,026,707.16	160,943,425.36
Contract assets	1,556,792,738.95	1,656,181,673.54
Assets held for sale
Non-current assets due within one year
Other current assets	252,697,282.31	63,839,155.60
Total current assets	57,395,862,530.37	59,848,768,333.58
Non-current assets:
Debt investment		270,000,000.00
Available-for-sale financial assets
Other debt investment
Held-to-maturity investments
Long-term receivables	879,875,579.47	1,295,630,133.93
Long-term equity investments	45,599,879,430.53	38,784,187,846.08
Other investments in equity instruments	951,154,064.00	699,777,632.80
Other non-current financial assets	3,921,434,590.73	3,963,098,215.73
Investment properties

- 19 -

Item	30 September 2019	31 December 2018
Fixed assets	308,364,877.79	301,160,464.04
Construction in progress
Productive biological assets
Oil and gas assets
Right-of-use assets	19,859,817.05
Intangible assets	214,669,279.38	221,801,896.28
Development expenditure	40,724,023.67	35,605,146.89
Goodwill
Long-term prepaid expenses	7,218,893.09	8,876,706.38
Deferred income tax assets	6,132,416.61	5,951,798.25
Other non-current assets
Total non-current assets	51,949,312,972.32	45,586,089,840.38
Total assets	109,345,175,502.69	105,434,858,173.96
Current liabilities:
Short-term borrowings	23,769,101,000.00	19,981,749,600.00
Trading financial liabilities
Financial liabilities at fair value through profit or
loss in the current period
Derivative financial liabilities
Bills payables	2,458,839,597.00	1,676,209,597.00
Trade payables	7,892,819,759.33	9,490,544,290.74
Receipts in advance
Contract liabilities	3,410,004,504.32	1,345,031,058.91
Salary payable to employees	84,161,873.40	77,671,110.70
Tax payables	201,051,312.06	388,167,615.09
Other payables	20,126,135,900.40	20,416,850,371.15
Including: Interest payables	255,069,416.67	257,870,666.67
Dividends payables	177,400,833.33	234,725,833.33
Liabilities held for sale
Non-current liabilities due within one year	1,806,440,000.00	5,253,840,000.00
Other current liabilities
Total current liabilities	59,748,553,946.51	58,630,063,643.59

- 20 -

Item		30 September 2019	31 December 2018
Non-current liabilities:
Long-term borrowings	4,642,500,000.00	5,353,000,000.00
Bonds payables		11,000,000,000.00	7,600,000,000.00
Including: Preferred shares
Perpetual	bonds
Lease liabilities		16,726,537.32
Long-term payables
Long-term salary payable to employees	36,473,044.74	43,850,000.00
Anticipated liabilities
Deferred revenue
Deferred income tax liabilities	190,664,813.15	152,958,348.48
Other non-current liabilities
Total non-current liabilities	15,886,364,395.21	13,149,808,348.48
Total liabilities		75,634,918,341.72	71,779,871,992.07
Equity attributable to the owners
(or shareholders' equity)
Paid-up capital (or share capital)	4,604,777,412.00	4,604,777,412.00
Other equity instruments	16,500,000,000.00	16,000,000,000.00
Including: Preferred shares
Perpetual bonds	16,500,000,000.00	16,000,000,000.00
Capital reserves		6,220,509,657.00	6,278,950,936.71
Less: Treasury shares
Other comprehensive income	605,862,988.02	396,103,403.96
Special reserve		1,688,326.84	1,688,326.84
Surplus reserves		1,582,944,663.22	1,582,944,663.22
Retained profit		4,194,474,113.89	4,790,521,439.16
Total equity attributable to the owners (or
shareholders' equity)	33,710,257,160.97	33,654,986,181.89
Total liabilities and equity attributable to the
owners (or shareholders' equity)	109,345,175,502.69	105,434,858,173.96
Legal representative:	Chief accountant:	Responsible person of accounting agency:
Chen Xiaohua	Wang Yihuai	Lu Zhongnian

- 21 -

CONSOLIDATED STATEMENTS OF PROFIT

January to September 2019

Prepared by: China Gezhouba Group Stock Company Limited

Unit: Yuan Currency: RMB Type of audit: Unaudited

			First three	First three
	3rd Quarter 2019	3rd Quarter 2018	quarters of 2019	quarters of 2018
Item	(July-September)	(July-September)	(January-September)	(January-September)
I. Total operating revenue	23,177,711,694.67	21,310,564,139.25	72,977,026,642.90	67,421,959,822.86
Including: Operating revenue	23,177,711,694.67	21,310,564,139.25	72,977,026,642.90	67,421,959,822.86
Interest income
Premiums earned
Fee and commission income
II. Total operating costs	22,106,760,863.11	20,475,212,422.98	69,243,955,907.19	64,159,132,495.38
Including: Operating cost	19,278,590,880.18	17,503,218,322.76	61,340,182,672.70	56,336,041,253.80
Interest expenses
Fee and commission expenses
Surrenders value
Net expenditure for insurance claims
settlement
Net drawing on provision for insurance
contracts
Expenditures for policy dividend
Reinsurance expenditures
Tax and surcharges	227,403,901.57	287,997,753.05	783,297,042.09	862,248,060.52
Selling expenses	235,855,141.20	312,955,773.07	933,045,719.20	891,099,139.90
Management expenses	1,058,855,522.61	1,093,070,554.31	3,057,930,817.61	3,007,282,800.34
R&D expenses	559,071,832.22	529,489,829.76	1,162,922,567.65	1,139,065,478.86
Finance cost	746,983,585.33	748,480,190.03	1,966,577,087.94	1,923,395,761.96
Including: Interest fee	819,125,916.95	759,090,639.21	2,154,284,182.44	2,020,408,848.72
Interest income	124,599,352.43	96,194,351.66	310,490,314.70	237,352,025.83
Add: Other income	249,748,646.98	419,605,667.45	971,315,328.55	989,908,110.35
Gain from investment
(loss is represented by "-")	322,523,032.97	278,410,471.60	811,015,503.47	629,734,267.62
Including: Gains from investment in associates and
joint ventures	188,683,603.95	241,190,525.44	660,602,608.91	480,882,159.00
Derecognition gains from financial assets
measured at amortised cost	-	-	-	-

- 22 -

				First three	First three
		3rd Quarter 2019	3rd Quarter 2018	quarters of 2019	quarters of 2018
Item		(July-September)	(July-September)	(January-September)	(January-September)
	Gains from exchange (loss is represented
	by "-")	-	-	-	-
	Gains on net exposure hedges (loss is
	represented by "-")
	Gains from change in fair value (loss is
	represented by "-")
	Impairment loss of credit (loss is represented
	by "-")	-25,482,175.96	7,272,309.50	-42,263,742.86	22,560,757.53
	Impairment loss of assets (loss is represented
	by "-")				-1,384,160.15
	Gain from assets disposal (loss is represented
	by "-")	913,875.83	6,188,696.70	-7,400,087.81	39,530,158.29
III. Operational profit (loss is represented by "-")	1,618,654,211.38	1,546,828,861.52	5,465,737,737.06	4,943,176,461.12
Add: Non-operating income	16,598,295.54	32,435,504.77	38,162,876.78	130,064,720.65
Less: Non-operating expense	15,714,276.06	7,977,429.31	31,842,879.55	23,467,498.97
IV. Total profit (total loss is represented by "-")	1,619,538,230.86	1,571,286,936.98	5,472,057,734.29	5,049,773,682.80
Less: Income tax expense	208,069,943.54	358,942,373.27	1,126,885,605.99	1,174,983,566.94
V. Net profit (Net loss is represented by "-")	1,411,468,287.32	1,212,344,563.71	4,345,172,128.30	3,874,790,115.86
(I) Classified by continuity of operations
1. Net profit from continuing operations
	(net loss is represented by "-")	1,411,468,287.32	1,212,344,563.71	4,345,172,128.30	3,874,790,115.86
	Net profit from discontinued operations
	(net loss is represented by "-")
(II) Classified by ownership of equity
1. Net profit attributable to the shareholders of
	the parent company (net loss is represented by "-")	1,074,060,269.04	834,086,497.00	3,198,116,793.78	2,787,060,170.36
2. Minority interests (net loss is represented by "-")	337,408,018.28	378,258,066.71	1,147,055,334.52	1,087,729,945.50
VI. Other comprehensive income, net of tax	51,560,518.58	-129,386,092.72	175,189,171.41	-767,746,404.59
Other comprehensive income attributable to the owners of
the parent company, net of tax	46,446,482.11	-121,422,085.92	175,678,540.72	-759,039,381.14
(I) Other comprehensive income not reclassified
to profit or loss	-93,552,796.15	-38,114,102.14	225,619,966.53	-433,934,314.26
1. Re-measurement of changes under defined
	benefit plan			11,950,000.00	-114,002,956.00
2. Other comprehensive income which cannot
be reclassified to profit or loss under
	equity method				-3,894.87
3. Changes in fair value of other investments
	in equity instruments	-93,552,796.15	-38,114,102.14	213,669,966.53	-319,927,463.39
4. Change in fair value of the corporate's own
	credit risk

- 23 -

						First three		First three
				3rd Quarter 2019	3rd Quarter 2018	quarters of 2019		quarters of 2018
Item				(July-September)	(July-September)	(January-September)		(January-September)
(II) Other comprehensive income to be reclassified
	to profit or loss		139,999,278.26	-83,307,983.78	-49,941,425.81		-325,105,066.88
1.	Other comprehensive income which can be
	reclassified to profit or loss under equity method
2.	Changes in fair value of other debt investments
3.	Profit or loss arising from changes in fair value
	of available-for-sale financial assets
4.	Amount included in other comprehensive income
	on reclassification of financial assets
5.	Profit or loss from held-to maturity investment
	reclassified as available-for-sale financial assets
6.	Provision for credit impairment of other debt
		investments
7.	Cash flows hedging reserve (effective portion of
	gains/(losses) on cash flow hedging)
8.	Differences on translation of foreign currency
		statements		139,999,278.26	-83,307,983.78	-49,941,425.81		-325,105,066.88
9.	Others
Other comprehensive income attributable to minority
interest, net of tax		5,114,036.47	-7,964,006.80	-489,369.31		-8,707,023.45
VII. Total comprehensive income		1,463,028,805.90	1,082,958,470.99	4,520,361,299.71		3,107,043,711.27
Total comprehensive income attributable to the owners of
the parent company		1,120,506,751.15	712,664,411.08	3,373,795,334.50		2,028,020,789.22
Total comprehensive income attributable to minority
interests		342,522,054.75	370,294,059.91	1,146,565,965.21		1,079,022,922.05
VIII. Earnings per share:
(I) Basic earnings per share (Yuan/share)		0.195	0.150	0.582		0.512
(II) Diluted earnings per share (Yuan/share)		0.195	0.150	0.582		0.512
Legal representative:	Chief accountant:	Responsible person of accounting agency:
Chen Xiaohua	Wang Yihuai		Lu Zhongnian

- 24 -

STATEMENTS OF PROFIT OF THE PARENT COMPANY

January to September 2019

Prepared by: China Gezhouba Group Stock Company Limited

Unit: Yuan Currency: RMB Type of audit: Unaudited

			First three	First three
	3rd Quarter 2019	3rd Quarter 2018	quarters of 2019	quarters of 2018
Item	(July-September)	(July-September)	(January-September)	(January-September)
I. Total operating revenue	5,065,436,708.91	2,737,268,670.13	14,419,503,280.76	8,609,803,118.80
Less: Operating cost	4,565,138,313.36	2,542,229,153.20	13,243,573,554.33	7,795,373,231.30
Tax and surcharges	5,549,957.71	44,577,044.03	13,785,555.70	63,801,685.66
Selling expenses
Management expenses	93,898,255.13	94,742,375.23	348,239,887.72	328,975,689.30
R&D expenses	35,333,471.67	52,114,095.41	74,971,574.75	197,897,826.75
Finance cost	170,034,359.37	2,218,089.08	217,642,790.33	-14,305,348.45
Including: Interest fee	521,095,635.97	375,246,322.00	1,372,670,299.52	1,116,173,866.54
Interest income	395,706,731.36	382,121,418.73	1,199,842,325.14	1,174,029,375.87
Add: Other income	32,459.16	50,192.62	35,123.31	77,563.58
Gain from investment (loss is
represented by "-")	66,265,036.08	64,740,163.64	207,481,128.87	282,374,573.74
Including: Gains from investment in
associates and joint ventures	21,825,265.50	27,895,204.58	62,580,047.01	72,821,162.60
Derecognition gains from financial
assets measured at amortised cost
Gains on net exposure hedges
(loss is represented by "-")
Gains from change in fair value
(loss is represented by "-")
Impairment loss of credit
(loss is represented by "-")	-1,947,688.40	195,609.41	-1,484,432.36	683,857.81
Impairment loss of assets
(loss is represented by "-")
Gain from assets disposal
(loss is represented by "-")	15,420.72	5,850,516.06	261,202.94	4,764,282.34

- 25 -

				First three	First three
		3rd Quarter 2019	3rd Quarter 2018	quarters of 2019	quarters of 2018
Item		(July-September)	(July-September)	(January-September)	(January-September)
II. Operational profit (loss is represented by "-")	259,847,579.23	72,224,394.91	727,582,940.69	525,960,311.71
Add: Non-operating income	2,494,494.71	51,410.82	6,372,253.73	76,410.82
Less: Non-operating expense	6,619,717.75	-18,193.51	6,967,355.28	1,361,684.90
III. Total profit (total loss is represented by "-")	255,722,356.19	72,293,999.24	726,987,839.14	524,675,037.63
Less: Income tax expense	-102,287,861.54	10,786,429.99	-23,599,769.75	166,337,605.27
IV. Net profit (net loss is represented by "-")	358,010,217.73	61,507,569.25	750,587,608.89	358,337,432.36
(I) Net profit from continuing operations
(net loss is represented by "-")	358,010,217.73	61,507,569.25	750,587,608.89	358,337,432.36
(II)Net profit from discontinued operations
(net loss is represented by "-")
V. Other comprehensive income, net of tax	-97,647,904.34	-44,852,690.93	209,759,584.06	-327,691,549.65
(I) Other comprehensive income not
reclassified to profit or loss	-93,552,796.15	-38,114,102.14	213,739,966.53	-321,651,358.26
1. Re-measurement of changes under
	defined benefit plan			70,000.00	-1,720,000.00
2. Other comprehensive income which
	cannot be reclassified to profit or
	loss under equity method				-3,894.87
3. Changes in fair value of other
	investments in equity instruments	-93,552,796.15	-38,114,102.14	213,669,966.53	-319,927,463.39
4. Change in fair value of the
	corporate's own credit risk
(II) Other comprehensive income to be
reclassified to profit or loss	-4,095,108.19	-6,738,588.79	-3,980,382.47	-6,040,191.39
1. Other comprehensive income which
	can be reclassified to profit or loss
	under equity method
2. Changes in fair value of other debt
	investments
3. Profit or loss arising from changes
	in fair value of available-for-sale
	financial assets

- 26 -

						First three		First three
				3rd Quarter 2019	3rd Quarter 2018	quarters of 2019		quarters of 2018
Item				(July-September)	(July-September)	(January-September)		(January-September)
4.	Amount included in other
		comprehensive income on
		reclassification of financial assets
5.	Profit or loss from held-to maturity
		investment reclassified as available-
		for-sale financial assets
6.	Provision for credit impairment of
		other debt investments
7.	Cash flows hedging reserve (effective
		portion of gains/(losses) on cash
		flow hedging)
8.	Differences on translation of foreign
		currency statements		-4,095,108.19	-6,738,588.79	-3,980,382.47		-6,040,191.39
9.	Others
VI. Total comprehensive income		260,362,313.39	16,654,878.32	960,347,192.95		30,645,882.71
VII. Earnings per share:
(I) Basic earnings per share (Yuan/share)
(II) Diluted earnings per share (Yuan/share)
Legal representative:	Chief accountant:	Responsible person of accounting agency:
Chen Xiaohua	Wang Yihuai		Lu Zhongnian

- 27 -

CONSOLIDATED CASH FLOWS STATEMENT

January to September 2019

Prepared by: China Gezhouba Group Stock Company Limited
Unit: Yuan Currency: RMB	Audit type: Unaudited
	First three	First three
	quarters of 2019	quarters of 2018
	(January to	(January to
Item	September)	September)
I. Cash flows from operating activities:	-	-
Cash received from the sales of goods and the
rendering of services	81,634,618,060.53	73,980,513,934.23
Net increase in deposits from customers and
interbank deposits
Net increase in borrowings from central bank
Net increase in borrowings from other financial
institutions
Cash received from premiums under original
insurance contracts
Net cash received from reinsurance business
Net increase in deposits from policyholder and
investment funds
Cash received from interest, handling fee and
commission
Net increase in capital borrowed
Net increase in capital from repurchase business
Net cash received from acting sale of securities
Refund of taxes and levies	1,066,617,292.29	1,175,087,483.44
Cash received relating to other operating activities	17,776,020,953.34	16,741,425,461.47
Sub-total of cash inflows from operating activities	100,477,256,306.16	91,897,026,879.14
Cash paid to the purchase of goods and the
acceptance of services	68,440,926,747.22	67,370,618,492.14
Net increase in loans and advances to customers
Net increase in deposits with central bank and
interbank deposits

- 28 -

	First three	First three
	quarters of 2019	quarters of 2018
	(January to	(January to
Item	September)	September)
Cash paid for compensation payments under
original insurance contracts
Net increase in call money
Cash paid for interest, handling fee and
commission
Cash paid for policyholder dividend
Cash paid to and for employees	5,190,863,224.25	4,979,906,212.28
Payments of all types of taxes	6,127,454,159.44	6,158,571,959.69
Cash payments relating to other operating
activities	18,628,047,673.26	16,680,954,471.75
Sub-total of cash outflows from operating
activities	98,387,291,804.17	95,190,051,135.86
Net cash flow from operating activities	2,089,964,501.99	-3,293,024,256.72
II. Cash flow from investing activities:
Cash received from investment recovery	184,294,306.57	464,966,235.29
Cash received from returns on investments	88,847,691.65	159,231,426.29
Net cash received from disposals of fixed assets,
intangible assets and other long-term assets	7,524,593.79	1,770,184.78
Net cash received from disposals of subsidiaries
and other operating units	45,263,828.96	880,665.73
Cash received relating to other investing activities	391,691,724.17	377,269,466.06
Sub-total of cash inflows from investing activities	717,622,145.14	1,004,117,978.15
Cash paid to acquire fixed assets, intangible assets
and other long-term assets	5,817,969,053.74	6,142,093,508.55
Cash paid for investments	1,316,407,231.00	3,309,091,641.60
Net increase of mortgaged loans
Net cash paid for acquisition of subsidiaries and
other operating units	135,090,492.46	1,023,104,283.85
Cash payments relating to other investing
activities		514,475,545.48

- 29 -

		First three	First three
		quarters of 2019	quarters of 2018
		(January to	(January to
Item		September)	September)
Sub-total of cash outflows from investing
activities		7,269,466,777.20	10,988,764,979.48
Net cash flow from investing activities	-6,551,844,632.06	-9,984,647,001.33
III. Cash flow from financing activities:	-	-
Cash received from capital contribution	7,011,694,721.62	1,428,932,083.94
Including: Cash received by subsidiaries from
investments of minority shareholders	2,011,694,721.62	1,428,932,083.94
Cash received from borrowings	45,705,641,342.13	39,515,004,276.36
Cash received relating to other financing activities	920,136,184.23	2,226,664,855.68
Sub-total of cash inflows from financing activities	53,637,472,247.98	43,170,601,215.98
Cash payments for debts settlement	41,656,924,479.86	25,118,206,905.02
Cash payments for distribution of dividends,
profits, or interest expenses	5,242,206,695.33	4,915,809,774.83
Including: Dividends and profits paid by
subsidiaries to minority shareholders	601,607,302.80	333,210,519.30
Cash payments relating to other financing
activities		6,734,488,098.27	3,648,473,912.45
Sub-total of cash outflows from financing
activities		53,633,619,273.46	33,682,490,592.30
Net cash flow from financing activities	3,852,974.52	9,488,110,623.68
IV. Effect of foreign exchange rate changes on cash
and cash equivalents		40,221,890.95	-153,430,107.56
V. Net increase in cash and cash equivalents	-4,417,805,264.60	-3,942,990,741.93
Add: Balance of cash and cash equivalent at the
beginning of the period		18,838,712,123.84	18,622,157,083.52
VI. Balance of cash and cash equivalents at the end
of the period		14,420,906,859.24	14,679,166,341.59
Legal representative:	Chief accountant:	Responsible person of accounting agency:
Chen Xiaohua	Wang Yihuai	Lu Zhongnian

- 30 -

CASH FLOWS STATEMENT OF THE PARENT COMPANY

January to September 2019

Prepared by: China Gezhouba Group Stock Company Limited

	Unit: Yuan Currency: RMB	Audit type: Unaudited
		First three quarters	First three quarters
		of 2019	of 2018
		(January to	(January to
Item	September)	September)
I.	Cash flows from operating activities:
	Cash received from the sales of goods and the
	rendering of services	19,096,291,415.49	11,381,631,432.14
	Refund of taxes and levies	60,075,172.57	76,374,027.04
	Cash received relating to other operating activities	7,949,450,368.71	10,639,336,343.26
	Sub-total of cash inflows from operating activities	27,105,816,956.77	22,097,341,802.44
	Cash paid to the purchase of goods and the
	acceptance of services	17,332,485,300.37	10,699,561,514.13
	Cash paid to and for employees	501,940,341.97	469,025,563.44
	Payments of all types of taxes	783,281,663.49	677,494,236.16
	Cash payments relating to other operating
	activities	8,965,950,787.96	10,379,594,000.17
	Sub-total of cash outflows from operating
	activities	27,583,658,093.79	22,225,675,313.90
	Net cash flow from operating activities	-477,841,137.02	-128,333,511.46
II. Cash flow from investing activities:	-	-
	Cash received from investment recovery	270,000,000.00	3,916,071,945.49
	Cash received from returns on investments	194,728,228.90	179,988,726.17
	Net cash received from disposals of fixed assets,
	intangible assets and other long-term assets	1,278,240.00
	Net cash received from disposals of subsidiaries
	and other operating units
	Cash received relating to other investing activities
	Sub-total of cash inflows from investing activities	466,006,468.90	4,096,060,671.66
	Cash paid to acquire fixed assets, intangible
	assets and other long-term assets	34,652,445.58	6,796,573.12

- 31 -

		First three quarters	First three quarters
		of 2019	of 2018
		(January to	(January to
Item		September)	September)
Cash paid for investments		3,941,558,561.09	4,127,835,789.00
Net cash paid for acquisition of subsidiaries and
other business units
Cash payments relating to other investing
activities
Sub-total of cash outflows from investing
activities		3,976,211,006.67	4,134,632,362.12
Net cash flow from investing activities	-3,510,204,537.77	-38,571,690.46
III. Cash flow from financing activities:
Cash received from capital contribution	5,000,000,000.00
Cash received from proceeds from borrowing	27,583,295,000.00	24,585,468,800.00
Cash received relating to other financing activities	4,666,526,471.10	8,572,298,084.14
Sub-total of cash inflows from financing activities	37,249,821,471.10	33,157,766,884.14
Cash payments for debts settlement	24,553,843,600.00	16,899,477,200.00
Cash payments for distribution of dividends,
profits, or interest expenses	2,997,554,999.67	3,129,043,781.48
Cash payments relating to other financing
activities		10,646,512,969.60	16,038,790,147.41
Sub-total of cash outflows from financing
activities		38,197,911,569.27	36,067,311,128.89
Net cash flow from financing activities	-948,090,098.17	-2,909,544,244.75
IV. Effect of foreign exchange rate changes on
cash and cash equivalents	51,284,833.99	26,697,759.57
V. Net increase in cash and cash equivalents	-4,884,850,938.97	-3,049,751,687.10
Add: Balance of cash and cash equivalent at the
beginning of the period		8,237,537,682.52	6,319,281,867.84
VI. Balance of cash and cash equivalents at
the end of the period		3,352,686,743.55	3,269,530,180.74
Legal representative:	Chief accountant:	Responsible person of accounting agency:
Chen Xiaohua	Wang Yihuai	Lu Zhongnian

- 32 -

4.2 First implementation of the new financial instruments guidelines, new income standards, new lease standards to adjust the first implementation of the financial statements at the beginning of the year

• Applicable   Not Applicable

CONSOLIDATED BALANCE SHEET

		Unit: Yuan	Currency: RMB
Item	31 December 2018	1 January 2019	Adjustment
Current assets:
Monetary assets	19,547,502,663.21	19,547,502,663.21
Settlement reserves
Call money
Trading financial assets
Financial assets at fair value
through profit or loss in the
current period
Derivative financial assets
Bills receivables	3,475,032,065.02	3,475,032,065.02
Trade receivables	15,270,815,875.78	15,270,815,875.78
Receivables financing
Prepayments	7,869,566,730.21	7,866,101,505.40	-3,465,224.81
Premiums receivable
Reinsurance accounts receivable
Reinsurance contract reserve
receivable
Other receivables	10,702,509,036.51	10,702,509,036.51
Including: Interest receivables	251,300.00	251,300.00
Dividends receivables
Purchase and sell-back of financial
assets
Inventories	52,197,618,110.17	52,197,618,110.17
Contract assets	17,063,346,979.33	17,063,346,979.33
Assets classified as held-for-sale

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Item	31 December 2018	1 January 2019	Adjustment
Non-current assets due within one
year	1,071,855,569.69	1,071,855,569.69
Other current assets	2,579,085,047.67	2,579,085,047.67
Total current assets	129,777,332,077.59	129,773,866,852.78	-3,465,224.81
Non-current assets:
Provision of loans and advances
Debt investments
Available-for-sale financial assets
Other debt investments
Held-to-maturity investments
Long-term receivables	15,274,561,016.63	15,274,561,016.63
Long-term equity investments	14,159,585,398.17	14,159,585,398.17
Other investments in equity
instruments	699,777,632.80	699,777,632.80
Other non-current financial assets	5,213,561,990.40	5,213,561,990.40
Investment properties	38,252,959.50	38,252,959.50
Fixed assets	17,107,206,656.89	17,107,206,656.89
Construction in progress	16,089,509,517.57	16,089,509,517.57
Productive biological assets
Oil and gas assets
Right-of-use assets		800,730,656.98	800,730,656.98
Intangible assets	16,682,985,922.94	16,682,985,922.94
Development expenditure	202,447,664.50	202,447,664.50
Goodwill	1,539,598,450.11	1,539,598,450.11
Long-term prepaid expenses	599,559,732.77	534,898,867.54	-64,660,865.23
Deferred income tax assets	732,356,187.10	732,356,187.10
Other non-current assets	92,530,714.76	92,530,714.76
Total non-current assets	88,431,933,844.14	89,168,003,635.89	736,069,791.75
Total assets	218,209,265,921.73	218,941,870,488.67	732,604,566.94

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Item	31 December 2018	1 January 2019	Adjustment
Current liabilities:
Short-term borrowings	29,614,035,130.24	29,614,035,130.24
Borrowings from the central bank
Loans from banks and other
financial institutions
Trading financial liabilities
Financial liabilities at fair value
through profit or loss in the
current period
Derivative financial liabilities
Bills payables	2,717,201,183.75	2,717,201,183.75
Trade payables	35,919,651,842.71	35,919,651,842.71
Receipts in advance
Gain on disposal of repurchased
financial assets
Absorption of deposits and
interbank deposits
Acting sale of securities
Acting underwriting securities
Salary payable to employees	258,349,996.38	258,349,996.38
Tax payables	2,530,455,699.97	2,530,455,699.97
Other payables	20,153,423,281.23	20,153,423,281.23
Including: Interest payables	1,304,487,613.85	1,304,487,613.85
Dividends payables	354,597,848.64	354,597,848.64
Handling fee and commission payable
Reinsurance accounts payable
Contract liabilities	14,556,285,412.84	14,556,285,412.84
Liabilities classified as held-for-
sale
Non-current liabilities due within
one year	12,195,692,656.14	12,195,692,656.14
Other current liabilities	18,743,979.57	18,743,979.57
Total current liabilities	117,963,839,182.83	117,963,839,182.83

- 35 -

Item	31 December 2018	1 January 2019	Adjustment
Non-current liabilities:
Reserve fund for insurance contracts
Long-term borrowings	31,782,735,313.26	31,782,735,313.26
Bonds payables	9,150,000,000.00	9,150,000,000.00
Including: Preferred shares
Perpetual bonds
Lease liabilities		732,604,566.94	732,604,566.94
Long-term payables	665,207,834.57	665,207,834.57
Long-term salary payable to
employees	2,162,107,000.00	2,162,107,000.00
Accrued liabilities
Deferred revenue	253,966,732.97	253,966,732.97
Deferred income tax liabilities	1,061,867,980.96	1,061,867,980.96
Other non-current liabilities	84,914,215.68	84,914,215.68
Total non-current liabilities	45,160,799,077.44	45,893,403,644.38	732,604,566.94
Total liabilities	163,124,638,260.27	163,857,242,827.21	732,604,566.94
Equity attributable to the owners
(or shareholders' equity):
Paid-up capital (or share capital)	4,604,777,412.00	4,604,777,412.00
Other equity instruments	16,000,000,000.00	16,000,000,000.00
Including: Preferred shares
Perpetual bonds	16,000,000,000.00	16,000,000,000.00
Capital reserves	7,511,468,750.95	7,511,468,750.95
Less: Treasury shares
Other comprehensive income	-372,768,899.26	-372,768,899.26
Special reserve	86,232,567.27	86,232,567.27
Surplus reserves	1,582,944,663.22	1,582,944,663.22
Provision for general risk
Retained profit	13,391,336,189.86	13,391,336,189.86
Total equity attributable to owners
of the parent company (or
shareholders' equity)	42,803,990,684.04	42,803,990,684.04
Minority interests	12,280,636,977.42	12,280,636,977.42

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Item	31 December 2018	1 January 2019	Adjustment
Total equity attributable to the
owners (or shareholders' equity)	55,084,627,661.46	55,084,627,661.46
Total liabilities and equity
attributable to the owners (or
shareholders' equity)	218,209,265,921.73	218,941,870,488.67	732,604,566.94

Descriptions on adjustment of each item:

• Applicable  Not Applicable

BALANCE SHEET OF THE PARENT COMPANY

		Unit: Yuan	Currency: RMB
Item	31 December 2018	1 January 2019		Adjustment
Current assets:
Monetary assets	8,237,724,678.67	8,237,724,678.67
Trading financial assets
Financial assets at fair value
through profit or loss in the
current period
Derivative financial assets
Bills receivables	230,279,649.00	230,279,649.00
Trade receivables	6,981,000,759.27	6,981,000,759.27
Receivables financing
Prepayments	2,029,909,088.31	2,029,909,088.31
Other receivables	40,488,889,903.83	40,488,889,903.83
Including: Interest receivables
Dividends receivables
Inventories	160,943,425.36	160,943,425.36
Contract assets	1,656,181,673.54	1,656,181,673.54
Assets classified as held-for-sale
Non-current assets due within
one year
Other current assets	63,839,155.60	63,839,155.60
Total current assets	59,848,768,333.58	59,848,768,333.58

- 37 -

Item	31 December 2018	1 January 2019	Adjustment
Non-current assets:
Debt investments	270,000,000.00	270,000,000.00
Available-for-sale financial
assets
Other debt investments
Held-to-maturity investments
Long-term receivables	1,295,630,133.93	1,295,630,133.93
Long-term equity investments	38,784,187,846.08	38,784,187,846.08
Other investments in equity
instruments	699,777,632.80	699,777,632.80
Other non-current financial
assets	3,963,098,215.73	3,963,098,215.73
Investment properties
Fixed assets	301,160,464.04	301,160,464.04
Construction in progress
Productive biological assets
Oil and gas assets
Right-of-use assets		8,724,026.66	8,724,026.66
Intangible assets	221,801,896.28	221,801,896.28
Development expenditure	35,605,146.89	35,605,146.89
Goodwill
Long-term prepaid expenses	8,876,706.38	8,876,706.38
Deferred income tax assets	5,951,798.25	5,951,798.25
Other non-current assets
Total non-current assets	45,586,089,840.38	45,594,813,867.04	8,724,026.66
Total assets	105,434,858,173.96	105,443,582,200.62	8,724,026.66
Current liabilities:
Short-term borrowings	19,981,749,600.00	19,981,749,600.00
Trading financial liabilities
Financial liabilities at fair value
through profit or loss in the
current period

- 38 -

Item	31 December 2018	1 January 2019	Adjustment
Derivative financial liabilities
Bills payables	1,676,209,597.00	1,676,209,597.00
Trade payables	9,490,544,290.74	9,490,544,290.74
Receipts in advance
Contract liabilities	1,345,031,058.91	1,345,031,058.91
Salary payable to employees	77,671,110.70	77,671,110.70
Tax payables	388,167,615.09	388,167,615.09
Other payables	20,416,850,371.15	20,416,850,371.15
Including: Interest payables	257,870,666.67	257,870,666.67
Dividends payables	234,725,833.33	234,725,833.33
Liabilities classified as held-for-
sale
Non-current liabilities due
within one year	5,253,840,000.00	5,253,840,000.00
Other current liabilities
Total current liabilities	58,630,063,643.59	58,630,063,643.59
Non-current liabilities:
Long-term borrowings	5,353,000,000.00	5,353,000,000.00
Bonds payables	7,600,000,000.00	7,600,000,000.00
Including: Preferred shares
Perpetual bonds
Lease liabilities		8,724,026.66	8,724,026.66
Long-term payables
Long-term salary payable to
employees	43,850,000.00	43,850,000.00
Accrued liabilities
Deferred revenue
Deferred income tax liabilities	152,958,348.48	152,958,348.48
Other non-current liabilities
Total non-current liabilities	13,149,808,348.48	13,158,532,375.14	8,724,026.66
Total liabilities	71,779,871,992.07	71,788,596,018.73	8,724,026.66

- 39 -

Item	31 December 2018	1 January 2019	Adjustment
Equity attributable to the
owners (or shareholders'
equity):
Paid-in capital (or share capital)	4,604,777,412.00	4,604,777,412.00
Other equity instruments	16,000,000,000.00	16,000,000,000.00
Including: Preferred shares
Perpetual bonds	16,000,000,000.00	16,000,000,000.00
Capital reserves	6,278,950,936.71	6,278,950,936.71
Less: Treasury shares
Other comprehensive income	396,103,403.96	396,103,403.96
Special reserve	1,688,326.84	1,688,326.84
Surplus reserves	1,582,944,663.22	1,582,944,663.22
Retained profit	4,790,521,439.16	4,790,521,439.16
Total equity attributable to
the owners (or shareholders'
equity)	33,654,986,181.89	33,654,986,181.89
Total liabilities and equity
attributable to the owners (or
shareholders' equity)	105,434,858,173.96	105,443,582,200.62	8,724,026.66

Descriptions on adjustment of each item:

• Applicable  Not Applicable

4.3 First implementation of the new financial instruments guidelines, new lease standards to retrospectively adjust the description of comparative figures for the previous period

• Applicable   Not Applicable

The Company recognized the right-of-use assets and lease liabilities for all leases (except for short- term leases and low-value asset leases for which the simplified approach is elected) on 1 January 2019, and depreciation and interest expenses are recognized respectively. Upon the change of accounting policies, total assets of the Company increased by RMB733 million and total liabilities of the Company increased by RMB733 million in the opening of 2019, the retained profit would not be affected at beginning of 2019.

4.4 Audit Report

• Applicable  Not Applicable

- 40 -