Luoyang Glass : THIRD QUARTERLY REPORT 2019

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.

＊

THIRD QUARTERLY REPORT 2019

1. IMPORTANT NOTICE

1. The board of directors (the "Board"), the supervisory committee, the directors (the "Directors"), supervisors and senior management members of the Company warrant that the information contained in this quarterly report is true, accurate, and complete without any false and misleading statements or material omissions, and severally and jointly accept legal responsibility for the above.
2. All Directors attended the Board meeting to consider this quarterly report of the Company.
3. Zhang Chong, Person-in-charge of the Company, Ma Yan, Person-in-charge of accounting, and Chen Jing, Person-in-charge of accounting institution (head of accounting department), warrant that the financial statements in this quarterly report are true, accurate and complete.
4. This third quarterly report of the Company is unaudited.

- 1 -

2. BASIC INFORMATION OF THE COMPANY 2.1 Major Financial Data

		Unit: yuan Currency: RMB
			Increase/decrease at
			the end of the
			reporting period as
	At the	At the	compared with
	end of the	end of the	the end of the
	reporting period	previous year	previous year(%)
Total assets	5,187,871,442.81	4,504,181,920.36	15.18
Net assets attributable to shareholders of the
Company	1,291,616,616.44	1,245,216,484.61	3.73
		From beginning of the
	From	previous year to
	beginning of	the end of
	the year to	the reporting
	the end of the	period of the
	reporting period	previous year	Year-on-year
	(January to	(January to	increase/
	September)	September)	decrease(%)
Net cash flows from operating activities	-92,001,401.99	-129,421,564.68	N/A
		From beginning of the
	From	previous year to
	beginning of	the end of
	the year to	the reporting
	the end of the	period of the	Year-on-year
	reporting period	previous year	increase/
	(January to	(January to	decrease
	September)	September)	(%)
Operating income	1,323,310,730.96	1,010,046,101.54	31.01
Net profit attributable to shareholders of the	46,400,131.83	2,445,374.15	1,797.47
Company
Net profit attributable to shareholders of the	5,367,118.71	-25,088,831.79	N/A
Company after deducting extraordinary profit
or loss
Weighted average return on net assets(%)	3.66	0.20	Increased by
			3.46 percentage
			points
Basic earnings per share(RMB/share)	0.0829	0.0044	1,784.09
Diluted earnings per share(RMB/share)	0.0829	0.0044	1,784.09

- 2 -

Extraordinary Items and Amounts
				Not applicable
✓	Applicable
							Unit: yuan	Currency: RMB
							Amount for the
							period from the
							beginning of the
					Amount for	year to the end
					the current	of the reporting
					period (July-	period (January
Items		September)	to September)	Explanation
Gain or loss from disposal of non-
current assets				12,318,957.84
Government grants credited to current
profit or loss (except for those
which are closely related to the
Company's ordinary business, in
accordance with national policies
and continuously received in certain
standard amounts and quantities)	24,655,535.09		32,699,053.27
Other non-operating income and
expenses excluding the aforesaid
items		6,686.09		-1,887,911.87
Effect of minority interests (after tax)	-61,500.40		-397,605.01
Effect of income tax		-559,362.13		-1,699,481.11
Total		24,041,358.65		41,033,013.12

- 3 -

2.2 Total number of shareholders, shareholdings of top 10 shareholders and top 10 holders of circulating shares (or holders of shares not subject to trading moratorium) as at the end of the reporting period

						Unit: Share
Total number of		44,842 shareholders (including 44,797 holders of
shareholders			A shares and 45 holders of H shares)
Shareholdings of the top 10 shareholders
	Number of		Number
	shares held as		of shares
	at the end of		held subject	Pledged or frozen
Name of shareholders	the reporting	Shareholding	to trading	Status of		Nature of
(full name)	period	percentage	moratorium	shares	Number	shareholder
		(%)
HKSCC NOMINEES LIMITED	248,640,699	44.42	0	Unknown	-	Overseas legal
						person
China Luoyang Float Glass	115,115,830	20.56	10,097,588	Pledged	57,557,915	State-owned legal
(Group) Company Limited						person
(CNBM) Bengbu Design &	71,365,976	12.75	2,365,976	Nil	-	State-owned legal
Research Institute for Glass						person
Industry Co., Ltd.
Triumph Science & Technology	7,508,991	1.34	7,508,991	Nil	-	State-owned legal
Co., Ltd.						person
Anhui Huaguang Photoelectricity	6,377,490	1.14	6,377,490	Nil	-	State-owned legal
Materials Technology Group						person
Co., Ltd.
Hefei Gaoxin Development and	3,029,276	0.54	0	Nil	-	State-owned legal
Investment Group Company*						person
Yixing Environmental	1,877,247	0.34	1,877,247	Nil	-	State-owned legal
Technology Innovation						person
Venture Investment Company
Limited* (宜興環保科技創
新創業投資有限公司)
GCL System Integration	1,065,338	0.19	1,065,338	Nil	-	Domestic non-
Technology Co., Ltd. (協鑫						state-owned
集成科技股份有限公司)						legal person
Hong Kong Securities Clearing	797,935	0.14	0	Unknown	-	Overseas legal
Company Limited						person
China Triumph International	708,610	0.13	708,610	Nil	-	Domestic non-
Engineering Co., Ltd. (中國						state-owned
建材國際工程集團有限						legal person
公司)

- 4 -

Shareholdings of the top 10 holders of shares not subject to trading moratorium

	Number of
	circulating	Class and number of shares
	shares held not
	subject to trading
Name of shareholders	moratorium	Class	Number
HKSCC NOMINEES LIMITED	248,640,699	Overseas listed foreign	248,640,699
		shares
China Luoyang Float Glass (Group)	105,018,242	Ordinary shares	105,018,242
Company Limited		denominated in RMB
(CNBM) Bengbu Design & Research	69,000,000	Ordinary shares	69,000,000
Institute for Glass Industry Co., Ltd.		denominated in RMB
Hefei Gaoxin Development and	3,029,276	Ordinary shares	3,029,276
Investment Group Company*		denominated in RMB
Hong Kong Securities Clearing	797,935	Ordinary shares	797,935
Company Limited		denominated in RMB
Shi Xiumin ( 石秀民)	562,000	Ordinary shares	562,000
		denominated in RMB
CHUK YEE MEN LIZA U/D	374,000	Overseas listed foreign	374,000
Zhao Fenfei( 趙奮飛)		shares
368,300	Ordinary shares	368,300
Zhang Yanyu( 張燕瑜)		denominated in RMB
345,100	Ordinary shares	345,100
Wang Jinnan( 王進南)		denominated in RMB
308,550	Ordinary shares	308,550

denominated in RMB

Explanation on connected relationship or parties acting in concert among the aforesaid shareholders

Among the top 10 shareholders of the Company, China Luoyang Float Glass (Group) Company Limited, Bengbu Design & Research Institute for Glass Industry Co., Ltd., Anhui Huaguang Photoelectricity Materials Technology Group Co., Ltd., Triumph Science & Technology Co., Ltd. and China Triumph International Engineering Co., Ltd. are related parties or persons acting in concert as defined under the Regulations for Disclosure of Changes in Shareholding of Listed Companies（「上市公司股 東 持 股 變 動 信 息 披 露 管 理 辦 法」）. The Company is not aware of any parties acting in concert or any related relationship among other holders of circulating shares.

Explanations on preferential	Nil
shareholders with voting rights
restored and the number of
shares held

Notes: 1. Shares held by HKSCC NOMINEES LIMITED are held on behalf of various customers.

2. The ordinary shares dominated in Renminbi held by Hong Kong Securities Clearing Company Limited are held on behalf of overseas investors who held these shares via Northbound Trading in the Shanghai-Hong Kong Stock Connect.

- 5 -

1. Total number of holders of preferential shares, shareholdings of top 10 holders of preferential shares and top 10 holders of preferential shares not subject to trading moratorium as at the end of the reporting period
   Not applicable

3. SIGNIFICANT EVENTS

1. Details of and reasons for material changes in the major financial statement items and financial indicators of the Company

					Increase/decrease
		Percentage of			of closing balance
		closing balance		Percentage of	of current period
		of current period		closing balance of	over closing
	Closing balance	over the total	Closing balance	last period over	balance of last
Item	of current period	asset	of last period	the total assets	period	Explanation
		(%)		(%)	(%)
Monetary funds	384,380,496.35	7.41	276,132,689.62	6.13	39.20	The increase in the notes
						payable, resulting in
						the corresponding
						increase in the note
						deposits in the
						reporting period
Accounts receivable	703,846,410.05	13.57	492,277,446.70	10.93	42.98	The increase in the sales
						volume, resulting in the
						corresponding increase
						in the trade receivable
						in the reporting period
Prepayments	82,258,218.55	1.59	62,462,228.34	1.39	31.69	The increase in advances
						to suppliers in the
						reporting period
Other receivables	74,578,692.98	1.44	46,186,737.52	1.03	61.47	The increase in deposits
						in the reporting period

- 6 -

					Increase/decrease
		Percentage of			of closing balance
		closing balance		Percentage of	of current period
		of current period		closing balance of	over closing
	Closing balance	over the total	Closing balance	last period over	balance of last
Item	of current period	asset	of last period	the total assets	period	Explanation
		(%)		(%)	(%)
Other current assets	103,728,462.95	2.00	70,237,506.22	1.56	47.68	The increase in deductible
						tax in the reporting
						period
Construction in	911,162,492.57	17.56	680,485,100.59	15.11	33.90	The increase in project
progress						investment in the
						reporting period
Short-term loans	1,128,729,239.45	21.76	851,888,356.04	18.91	32.50	The increase in the bank
						borrowing in the
						reporting period
Notes payable	492,884,546.65	9.50	305,058,652.43	6.77	61.57	The increase in note
						financing in the
						reporting period
Taxes payable	25,235,095.48	0.49	18,769,988.13	0.42	34.44	The increase in value
						added tax and income
						tax payable in the
						reporting period

- 7 -

	Amount from the
	beginning of the
	year to the end	Amount for the
	of the reporting	same period last
Item	period	year	Changes	Explanation
			(%)
Operating revenue	1,323,310,730.96	1,010,046,101.54	31.01	The increase in revenue as a result
				of the increase in sales volume of
				new energy glass in the reporting
				period
Operating costs	1,035,683,238.02	791,332,516.43	30.88	The increase in costs as a result of
				an increase in sales volume of
				new energy glass in the reporting
				period
Selling expenses	45,501,686.40	33,646,307.55	35.24	The increase in transportation costs
				and incentive remuneration as
				a result of the increase in sales
				volume of new energy glass in the
				reporting period
Credit impairment losses	-7,296,507.93	4,173,671.55	-274.82	The increase in provision for credit
(loss is represented by				loss in the reporting period
"-")
Other income	17,652,940.74	12,735,449.53	38.61	The year-on-year increase in
				government subsidies received in
				the reporting period
Gain on disposal of assets	12,328,915.30	923,447.71	1235.10	The gain received from the
				resumption of the office building
				of a subsidiary and its land by
				government in the reporting
				period
Non-operating income	19,943,434.71	7,539,476.33	164.52	The year-on-year increase in
				industrial support funds in the
				reporting period
Net cash flows from	-92,001,401.99	-129,421,564.68	N/A	The decrease in cash paid for
operating activities				purchase of goods and services
				rendered in the reporting period
Net cash flow from	-125,191,997.44	-104,391,351.20	N/A	The increase in the project
investment activities				investment expenditure in the
				reporting period

- 8 -

1. Analysis and explanation of progress and impact of significant events and their solutions
   When the Company underwent significant asset restructuring in 2017, the counterparties undertook that the actual net profit of the target companies (Hefei New Energy, Tongcheng New Energy and Yixing New Energy) for the profit compensation period from 2018 to 2020 shall not be lower than the expected net profit set out in the Assets Valuation Report, in the event that the target companies fail to achieve the committed net profit, counterparties shall compensate the target companies according to the arrangements of the Profit Guarantee Indemnity Agreements in relation to Acquisition of Assets by Issuance of Shares and the supplemental agreement. The audited net profit after deducting non-recurring gain and loss of Hefei New Energy, Tongcheng New Energy and Yixing New Energy for 2018 were RMB10,848,800, RMB6,972,200 and RMB11,669,100, respectively, resulting in their failure to complete the performance commitments. At present, the Company is in the process of proceeding with relevant matters regarding the repurchase and cancellation of performance compensation shares.
2. Overdue undertakings not fully performed during the reporting period Not applicable
3. The warning of projection on cumulative net profit for the period from the beginning of the year to the end of the next reporting period to be at a loss or expected to have material changes as compared to the corresponding period of prior year and its explanation
   Not applicable

- 9 -

4 APPENDIX

4.1 Financial Statements

Consolidated Balance Sheet

30 September 2019

Prepared by: Luoyang Glass Company Limited*

Unit: yuan	Currency: RMB Type of audit: unaudited
		30 September	31 December
Item	2019		2018
Current assets:
Bank balance and cash	384,380,496.35		276,132,689.62
Bills receivables	185,219,279.40		168,650,511.63
Accounts receivable	703,846,410.05	492,277,446.70
Accounts receivable financing	101,033,737.44	104,046,358.38
Prepayments	82,258,218.55	62,462,228.34
Other receivables	74,578,692.98	46,186,737.52
Inventories	283,626,816.57	245,395,799.98
Other current assets	103,728,462.95	70,237,506.22
Total current assets	1,918,672,114.29		1,465,389,278.39

- 10 -

	30 September	31 December
Item	2019		2018
Non-current assets:
Long-term receivables	55,000,000.00		55,000,000.00
Fixed assets	1,893,047,873.66		1,915,114,403.91
Construction in progress	911,162,492.57	680,485,100.59
Intangible assets	367,758,131.26	356,370,051.76
Development expenditures	27,203,108.43	15,075,276.42
Long-term deferred expenses	7,908,175.18	7,923,897.51
Deferred income tax assets	7,119,547.42	6,109,809.23
Other non-current assets			2,714,102.55
Total non-current assets	3,269,199,328.52		3,038,792,641.97
Total assets	5,187,871,442.81		4,504,181,920.36
Current liabilities:
Short-term borrowings	1,128,729,239.45		851,888,356.04
Bills payable	492,884,546.65		305,058,652.43
Accounts payable	728,636,634.80	678,096,403.19
Employee compensation payable	17,700,796.85	24,115,765.81
Taxes payable	25,235,095.48	18,769,988.13
Other payables	401,902,131.96	387,488,441.66
Including: Interest payable			3,971,724.81
Contract liabilities	35,998,526.00	29,020,814.15
Non-current liabilities due within one year	256,144,354.29	236,037,605.59
Total current liabilities	3,087,231,325.48		2,530,476,027.00

- 11 -

					30 September		31 December
Item					2019		2018
Non-current liabilities:
Long-term borrowings		596,078,819.70		521,429,305.35
Deferred income		105,073,782.53		106,935,486.80
Total non-current liabilities	701,152,602.23	628,364,792.15
Total Liabilities		3,788,383,927.71		3,158,840,819.15
Owners' equity (or shareholders' equity)
Paid-in capital (or share capital)	559,797,391.00		559,797,391.00
Capital reserve		1,971,137,887.30		1,971,137,887.30
Surplus reserve					51,365,509.04	51,365,509.04
Undistributed profit		-1,290,684,170.90	-1,337,084,302.73
Total owners' equity (or shareholders
equity) attributable to owners of
the Company		1,291,616,616.44		1,245,216,484.61
Minority interests		107,870,898.66		100,124,616.60
Total owners' equity (or shareholders'
equity)		1,399,487,515.10		1,345,341,101.21
Total liabilities and owners' equity
(or shareholders' equity)		5,187,871,442.81		4,504,181,920.36
	Person in charge of	Person in charge of
Legal representative:	accounting:				accounting department:
Zhang Chong	Ma Yan				Chen Jing

- 12 -

Balance Sheet of the Company

30 September 2019

Prepared by: Luoyang Glass Company Limited*

Unit: yuan	Currency: RMB Type of audit: unaudited
			30 September	31 December
Item	2019		2018
Current assets:
Bank balance and cash	131,751,629.26		107,734,602.60
Accounts receivable	252,031,426.69		194,884,664.69
Accounts receivable financing	3,330,913.45	8,859,660.98
Prepayments	40,902.72	67,501.58
Other receivables	243,048,579.37	343,017,501.55
Other current assets	1,249,152.49	111,464.47
Total current assets	631,452,603.98		654,675,395.87
Non-current assets:
Long-term receivables	55,000,000.00		55,000,000.00
Long-term equity investment	1,886,146,638.35		1,690,841,658.35
Fixed assets	2,000,745.55	2,179,571.19
Intangible assets	5,791,443.13	34,013,794.93
Long-term deferred expenses					54,000.00
Total non-current assets	1,948,938,827.03		1,782,089,024.47
Total assets	2,580,391,431.01		2,436,764,420.34

- 13 -

	30 September	31 December
Item	2019		2018
Current liabilities:
Short-term borrowings	298,990,000.00		224,284,000.00
Bills payable	282,000,000.00		160,000,000.00
Accounts payable	45,457,818.39	4,767,691.66
Contract liabilities	10,592,604.76	9,166,122.06
Employee compensation payable	4,791,196.78	7,023,662.82
Taxes payable	192,953.41	367,234.35
Other payables	424,541,438.51	634,347,385.84
Including: Interest payable			646,964.51
Non-current liabilities due within one year	5,186,369.36	610,104.27
Total current liabilities	1,071,752,381.21		1,040,566,201.00
Non-current liabilities:
Long-term borrowings	265,049,049.65		200,000,000.00
Total non-current liabilities	265,049,049.65		200,000,000.00
Total Liabilities	1,336,801,430.86		1,240,566,201.00

- 14 -

				30 September		31 December
Item				2019		2018
Owners' equity (or shareholders' equity)
Paid-in capital (or share capital)	559,797,391.00		559,797,391.00
Capital reserve		1,950,590,599.30		1,950,590,599.30
Surplus reserve				51,365,509.04	51,365,509.04
Undistributed profit		-1,318,163,499.19	-1,365,555,280.00
Total owners' equity
(or shareholders' equity)		1,243,590,000.15		1,196,198,219.34
Total liabilities and owners' equity
(or shareholders' equity)		2,580,391,431.01		2,436,764,420.34
	Person in charge of	Person in charge of
Legal representative:	accounting:			accounting department:
Zhang Chong	Ma Yan			Chen Jing

- 15 -

Consolidated Income Statement

January - September 2019

Prepared by: Luoyang Glass Company Limited*

		Unit: yuan	Currency: RMB	Type of audit: unaudited
						First three	First three
		Third quarter of	Third quarter of	quarters of	quarters of
			2019		2018	2019	2018
			(July -	(July -	(January -	(January -
Item			September)	September)	September)	September)
I.	Total operating revenue	463,924,589.53	307,683,710.80	1,323,310,730.96	1,010,046,101.54
	Including: Operating revenue	463,924,589.53	307,683,710.80	1,323,310,730.96	1,010,046,101.54
II.	Total operating costs	440,189,529.27	341,938,833.53	1,296,258,435.57	1,017,904,182.50
	Including: Operating costs	348,491,763.25	272,708,609.06	1,035,683,238.02	791,332,516.43
		Taxes and surcharges	5,976,005.04	5,253,120.83	18,137,664.09	15,965,606.75
		Selling expenses	17,603,108.53	11,722,341.72	45,501,686.40	33,646,307.55
		Administrative expenses	22,499,700.47	19,157,618.17	73,630,755.73	65,678,911.55
		Research and development
		expenses	16,589,376.53	11,921,571.38	47,325,105.62	50,364,853.05
		Financial expenses	29,029,575.45	21,175,572.37	75,979,985.71	60,915,987.17
		Including: Interest expenses	26,953,421.11	15,868,991.42	67,432,005.64	48,611,676.26
		Interest income	516,653.82	422,562.19	2,272,748.01	721,863.65
	Add:	Other income	8,375,006.42	5,614,467.06	17,652,940.74	12,735,449.53
		Impairment losses of credit
		(loss is represented by "-")	-5,912,782.62			-7,296,507.93	4,173,671.55
		Impairment losses of assets
		(loss is represented by "-")					-6,849.19
		Gain on disposal of assets
		(loss is represented by "-")	9,957.46	792,372.56	12,328,915.30	923,447.71

- 16 -

				First three	First three
		Third quarter of	Third quarter of	quarters of	quarters of
		2019	2018	2019	2018
		(July -	(July -	(January -	(January -
Item		September)	September)	September)	September)
III.	Operating profit (loss is represented by
	"-")	26,207,241.52	-27,848,283.11	49,737,643.50	9,967,638.64
	Add: Non-operating income	18,404,973.63	5,764,195.60	19,943,434.71	7,539,476.33
	Less: Non-operating expense	157,420.00	11,583.73	2,071,379.04	222,958.45
IV.	Total profit (total loss is represented by
	"-")	44,454,795.15	-22,095,671.24	67,609,699.17	17,284,156.52
	Less: Income tax expenses	8,889,477.47	-2,216,504.85	13,463,285.28	8,923,374.38
V.	Net profit (net loss is represented by "-")	35,565,317.68	-19,879,166.39	54,146,413.89	8,360,782.14
	(I) Classified on a going concern basis

1.	Net profit from continuing
	operation (Net loss is
	represented by "-")	35,565,317.68	-19,879,166.39	54,146,413.89	8,360,782.14

1. 1. Net profit from discontinued operation (Net loss is represented by "-")
2. Classified by ownership
3. 1. Net profit attributable to the shareholders of the Company

	(Net loss is represented by "-")	30,768,935.77	-19,532,296.88	46,400,131.83	2,445,374.15
2.	Profit or loss attributable to
	minority interests (Net loss is
	represented by "-")	4,796,381.91	-346,869.51	7,746,282.06	5,915,407.99

- 17 -

						First three	First three
			Third quarter of	Third quarter of	quarters of	quarters of
			2019		2018	2019	2018
			(July -		(July -	(January -	(January -
Item			September)		September)	September)	September)
VI.	Other comprehensive income, net of tax
VII.	Total comprehensive income		35,565,317.68	-19,879,166.39	54,146,413.89	8,360,782.14
	Total comprehensive income attributable to
	owners of the Company		30,768,935.77	-19,532,296.88	46,400,131.83	2,445,374.15
	Total comprehensive income attributable to
	minority interests		4,796,381.91		-346,869.51	7,746,282.06	5,915,407.99
VIII. Earnings per share:
	(I) Basic earnings per share(RMB/share)	0.0550		-0.0351	0.0829	0.0044
	(II) Diluted earnings per share
	(RMB/share)		0.0550		-0.0351	0.0829	0.0044
		Person in charge of	Person in charge of
Legal representative:	accounting:		accounting department:
	Zhang Chong		Ma Yan			Chen Jing

- 18 -

Income Statement of the Company

January - September 2019

Prepared by: Luoyang Glass Company Limited*

	Unit: yuan	Currency: RMB	Type of audit: unaudited
					First three	First three
	Third quarter of	Third quarter of	quarters of	quarters of
		2019		2018	2019	2018
		(July -	(July -	(January -	(January -
Item		September)	September)	September)	September)
I.	Operating revenue	82,175,353.49	35,754,939.80	250,877,212.94	130,975,415.58
	Less: Operating costs	81,992,667.11	35,178,624.59	249,159,991.05	128,446,844.20
	Taxes and surcharges	330,778.05	385,306.67	809,863.22	2,193,380.72
	Selling expenses	215,754.10	99,521.74	443,898.92	389,344.50
	Administrative expenses	3,709,593.72	3,235,935.08	9,569,173.47	11,067,796.45
	Financial expenses	8,158,344.28	6,748,842.91	22,259,745.29	22,010,853.08
	Including: Interest expenses	11,400,450.35	7,493,204.10	33,122,477.28	23,369,591.54
	Interest income	3,581,937.42	1,170,130.26	11,316,734.52	1,860,405.06
	Add: Other income				232,307.00
	Investment income
	(loss is represented by "-")		5,433,173.99	60,000,000.00	69,990,946.90
	Impairment losses of credit
	(loss is represented by "-")	100,000.00			300,644.57	614,549.07
	Gain on disposal of assets
	(loss is represented by "-")	1,317,906.79			1,344,231.97	1,181,645.71

1. Operating profit (loss is represented

by "-")	-10,813,876.98	-4,460,117.20	30,511,724.53	38,654,338.31
Add: Non-operating income	16,880,000.00	4,886,631.05	16,880,056.28	5,097,666.19
Less: Non-operating expense				52,054.86

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				First three	First three
		Third quarter of	Third quarter of	quarters of	quarters of
		2019	2018	2019	2018
		(July -	(July -	(January -	(January -
Item		September)	September)	September)	September)
III.	Total profit (total loss is represented
	by "-")	6,066,123.02	426,513.85	47,391,780.81	43,699,949.64
	Less: Income tax expenses
IV.	Net profit (net loss is represented by "-")	6,066,123.02	426,513.85	47,391,780.81	43,699,949.64
	(I) Net profit from continuing operation
	(Net loss is represented by "-")	6,066,123.02	426,513.85	47,391,780.81	43,699,949.64

1. 1. Net profit from discontinued operation (Net loss is represented by "-")
2. Other comprehensive income, net of tax

VI. Total comprehensive income

6,066,123.02

426,513.85

47,391,780.81

43,699,949.64

VII. Earnings per share:

1. Basic earnings per share(RMB/share)

1. Diluted earnings per share (RMB/share)

	Person in charge of	Person in charge of
Legal representative:	accounting:	accounting department:
Zhang Chong	Ma Yan	Chen Jing

- 20 -

Consolidated Cash Flow Statement

January - September 2019

Prepared by: Luoyang Glass Company Limited*

Unit: yuan Currency: RMB Type of audit: unaudited

	First three	First three
	quarters of	quarters of
	2019		2018
	(January -	(January -
Item	September)	September)
I. Cash flow from operating activities:
Cash received from sale of goods or
rendering of services	643,832,756.88		695,028,592.64
Tax refunds received	3,593,571.66
Other cash received from activities related
to operation	58,932,494.76		37,654,351.67
Sub-total of cash inflow from operating
activities	706,358,823.30		732,682,944.31
Cash paid for goods purchased and
services received	530,589,440.36		639,412,901.03
Cash paid to and on behalf of employees	160,160,018.15		137,442,887.50
Tax payments	58,451,771.20	58,483,431.25
Other cash paid for activities related to
operation	49,158,995.58	26,765,289.21
Sub-total of cash outflow from
operating activities	798,360,225.29		862,104,508.99
Net cash flow from operating activities	-92,001,401.99		-129,421,564.68

- 21 -

	First three		First three
	quarters of		quarters of
	2019	2018
	(January -		(January -
Item	September)		September)
II. Cash flow from investment activities:
Net cash received from disposal of fixed
assets, intangible assets and other long-
term assets	14,252,170.15
Other cash received from activities related
to investment	819,510.00	18,117,140.63
Sub-total of cash inflow from
investment activities	15,071,680.15	18,117,140.63
Cash paid for purchase and construction
of fixed assets, intangible assets and
other long-term assets	139,628,205.59	122,508,491.83
Other cash paid for activities related to
investment	635,472.00
Sub-total of cash outflow from
investment activities	140,263,677.59	122,508,491.83
Net cash flow from investment activities	-125,191,997.44	-104,391,351.20
III. Cash flow from financing activities:
Proceeds from loans	1,427,060,000.00	742,200,000.00
Cash received from issuance of bonds
Other cash received from financing-
related activities	400,787,087.66	457,335,336.43
Sub-total of cash inflow from financing
activities	1,827,847,087.66	1,199,535,336.43

- 22 -

				First three	First three
				quarters of	quarters of
				2019		2018
				(January -	(January -
Item				September)	September)
Cash paid for repayment of loans	1,113,018,202.42	722,448,495.67
Cash paid for dividends, profit, or interest
payments				65,936,107.96	48,448,283.90
Other cash paid for financing-related
activities		472,270,669.35	272,592,292.16
Sub-total of cash outflow from
financing activities		1,651,224,979.73		1,043,489,071.73
Net cash flow from financing activities	176,622,107.93		156,046,264.70
IV. Effects of changes in exchange rate
on cash and cash equivalents			264,082.53		106,587.22
V. Net increase in cash and cash
equivalents				-40,307,208.97		-77,660,063.96
Add: Opening balance of cash and cash
equivalents		160,068,348.62	198,797,788.08
VI. Closing balance of cash and cash
equivalents		119,761,139.65		121,137,724.12
	Person in charge of	Person in charge of
Legal representative:	accounting:			accounting department:
Zhang Chong	Ma Yan			Chen Jing

- 23 -

Cash Flow Statement of the Company

January - September 2019

Prepared by: Luoyang Glass Company Limited*

Unit: yuan Currency: RMB Type of audit: unaudited

	First three		First three
	quarters of		quarters of
	2019	2018
	(January -		(January -
Item	September)		September)
I. Cash flow from operating activities:
Cash received from sale of goods or
rendering of services	46,305,206.03	67,311,676.51
Other cash received from activities related
to operation	28,736,555.44	40,346,016.54
Sub-total of cash inflow from operating
activities	75,041,761.47	107,657,693.05
Cash paid for goods purchased and
services received	21,095,875.58
Cash paid to and on behalf of employees	9,377,209.50	10,916,348.99
Tax payments	3,927,999.19	5,141,155.42
Other cash paid for activities related to
operation	26,106,317.67	46,439,305.48
Sub-total of cash outflow from
operating activities	60,507,401.94	62,496,809.89
Net cash flow from operating activities	14,534,359.53	45,160,883.16

- 24 -

		First three		First three
		quarters of		quarters of
		2019	2018
		(January -		(January -
Item	September)		September)
II.	Cash flow from investment activities:
	Cash received from investment income		3,129,244.82
	Other cash received from activities related
	to investment		18,117,140.63
	Sub-total of cash inflow from
	investment activities		21,246,385.45
	Cash paid for investment	163,606,799.00	70,000,000.00
	Sub-total of cash outflow from
	investment activities	163,606,799.00	70,000,000.00
	Net cash flow from investment activities	-163,606,799.00	-48,753,614.55
III. Cash flow from financing activities:
	Proceeds from loans	375,860,000.00	235,084,000.00
	Cash received from issuance of bonds
	Other cash received from financing-
	related activities	1,780,120,271.56	736,675,989.97
	Sub-total of cash inflow from financing
	activities	2,155,980,271.56	971,759,989.97

- 25 -

			First three	First three
			quarters of	quarters of
			2019			2018
			(January -	(January -
Item			September)	September)
Cash paid for repayment of loans	281,511,436.74		346,334,603.35
Cash paid for dividends, profit, or interest
payments			16,209,247.07		8,798,014.65
Other cash paid for financing-related
activities		1,720,233,311.50		635,081,023.64
Sub-total of cash outflow from
financing activities		2,017,953,995.31			990,213,641.64
Net cash flow from financing activities	138,026,276.25			-18,453,651.67
IV. Effects of changes in exchange rate on
cash and cash equivalents		189.88			323.91
V. Net increase in cash and cash
equivalents			-11,045,973.34			-22,046,059.15
Add: Opening balance of cash and cash
equivalents			36,334,602.60		51,344,789.07
VI. Closing balance of cash and cash
equivalents			25,288,629.26		29,298,729.92
	Person in charge of	Person in charge of
Legal representative:	accounting:		accounting department:
Zhang Chong	Ma Yan		Chen Jing

- 26 -

1. The related conditions on the adjustment of the items in financial statements at the beginning of the year of initial implementation arising from initial implementation of new financial instrument standard, new income standard and new lease standard
   Not applicable
2. Retrospective adjustment of the previous comparative data by initial adoption of new financial instrument standard and new lease standard
   Not applicable
3. Audit Report

Not applicable
Company name	LUOYANG GLASS COMPANY LIMITED*
Legal representative	Zhang Chong
Date	17 October 2019

As at the date of this announcement, the Board comprises five executive Directors: Mr. Zhang Chong, Mr. Xie Jun, Mr. Ma Yan, Mr. Wang Guoqiang and Mr. Zhang Rong; two non-executive Directors: Mr. Ren Hongcan and Mr. Chen Yong; and four independent non-executive Directors: Mr. Jin Zhanping, Mr. Ye Shuhua, Mr. He Baofeng and Ms. Zhang Yajuan.

• For identification purposes only

- 27 -