BBMG Corporation — Interim / Quarterly Report 2017

Aug 17, 2017

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.

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北 京 金 隅 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 2017 INTERIM REPORT OF JIDONG CEMENT

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

The controlling subsidiary of the Company, Tangshan Jidong Cement Co., Ltd. (“ Jidong Cement ”), will publish the “2017 Interim Report of Jidong Cement” (《冀東水泥 2017 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 18 August 2017.

Please also refer to the relevant major financial statements from the 2017 Interim Report of Jidong Cement published on the website of Shanghai Stock Exchange (www.sse.com.cn) by the Company in the attachments to this announcement.

By order of the Board BBMG Corporation* Jiang Deyi Chairman

Beijing, the PRC, 17 August 2017

As at the date of this announcement, the executive directors of the Company are Jiang Deyi, Zeng Jin, Wu Dong and Zheng Baojin; the non-executive director of the Company is Guo Yanming; 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

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Attachment ：

1 Consolidated Balance Sheet

Prepared by : Tangshan Jidong Cement Co., Ltd.

As at 30 June 2017

	Unit and Currency: RMB	Unit and Currency: RMB
	Closing balance as at	Opening balance as at
Item	the end of the	the beginning of the
	reporting period	reporting period
Current Assets:
Cash and bank balances	3,396,238,252.08	3,188,552,723.47
Settlement reserves
Loans to banks or other financial institutions
Financial assets at fair value through profit or loss	427,965,934.00	566,149,292.00
Derivative financial assets
Bills receivable	1,587,191,506.29	883,978,104.71
Accounts receivable	1,574,120,715.42	1,385,375,436.05
Advances to suppliers	890,467,807.04	819,101,705.34
Premiums receivable
Reinsurance accounts receivable
Reinsurance contract reserve receivable
Interests receivable	4,829,444.44	4,829,444.44
Dividends receivable
Other receivables	1,014,095,830.32	1,835,891,776.78
Purchase and sell-back of financial assets
Inventories	1,746,664,337.65	1,548,892,813.79
Assets classified as held for sale
Non-current assets due within one year
Other current assets	463,571,152.94	441,068,908.51
Total current assets	11,105,144,980.18	10,673,840,205.09
Non-current assets:
Loans and advances
Available-for-sale financial assets	553,174,630.40	595,482,753.92
Held-to-maturity investments
Long-term receivables
Long-term equity investments	1,432,539,438.64	1,554,163,527.87
Investment properties
Fixed assets	22,936,811,902.56	23,324,996,355.87
Construction in progress	1,229,077,898.62	1,226,976,880.59
Construction materials	203,929,187.10	305,025,896.23
Disposal of fixed assets
Productive biological assets
Oil and gas assets
Intangible assets	2,832,202,879.52	2,883,913,589.54
Development expenses
Goodwill	76,070,206.63	76,070,206.63
Long-term prepaid expenses	433,401,719.18	415,825,458.66
Deferred tax assets	431,404,089.22	423,750,995.76

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Other non-current assets
Total non-current assets	30,128,611,951.87	30,806,205,665.07
Total assets	41,233,756,932.05	41,480,045,870.16
Current liabilities:
Short-term loans	12,880,286,855.00	11,763,696,954.83
Borrowings from central bank
Deposits from customers and inter-bank deposits
Loans from banks and other financial institutions
Financial liabilities at fair value through profit or
loss
Derivative financial liabilities
Bills payable	113,064,357.16	709,467,651.20
Accounts payable	2,573,600,897.85	2,022,705,932.05
Receipts in advance	676,747,181.05	306,926,845.66
Financial assets sold for repurchase
Fees and commissions payable
Payroll payable	83,394,295.68	107,763,026.67
Taxes payable	142,954,421.94	302,587,874.62
Interests payable	246,767,162.36	128,577,521.97
Dividends payable	4,812,829.92	2,754,829.92
Other payables	820,918,212.40	906,179,914.73
Reinsurance accounts payable
Insurance contract reserve payable
Amount paid for agency securities trading
Amount paid for agency securities underwriting
Liabilities classified as held for sale
Non-current liabilities due within one year	3,758,304,856.25	4,431,447,247.32
Other current liabilities	1,012,959,147.46	13,067,994.80
Total current liabilities	22,313,810,217.07	20,695,175,793.77

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Non-current liabilities:
Long-term loans	1,933,000,000.00	1,586,275,000.00
Bonds payable	2,735,315,126.27	3,214,231,051.15
Including: Premium
Perpetual
Long-term payables	2,763,441,620.06	4,323,613,992.37
Long-term payroll payable	35,974,060.67	36,225,309.01
Specific payables
Provisions	71,361,360.45	60,620,693.35
Deferred income	141,721,157.34	148,775,353.36
Deferred income tax liabilities	200,752,378.90	247,255,037.17
Other non-current liabilities
Total non-current liabilities	7,881,565,703.69	9,616,996,436.41
Total liabilities	30,195,375,920.76	30,312,172,230.18
Owners’ equity:
Share capital	1,347,522,914.00	1,347,522,914.00
Other equity instruments
Including: Premium
Perpetual
Capital reserve	4,921,748,666.86	4,921,748,666.86
Less: Treasury shares
Other comprehensive income	77,083,793.92	107,933,745.58
Specific reserve	17,245,039.92	15,015,690.68
Surplus reserve	1,014,639,449.76	1,014,639,449.76
General risk provision
Retained earnings	2,467,883,028.94	2,578,625,282.26
Total equity attributable to owners of the parent
	9,846,122,893.40	9,985,485,749.14
company
Minority interests	1,192,258,117.89	1,182,387,890.84
Total owners’ equity	11,038,381,011.29	11,167,873,639.98
Total liabilities and owners’ equity	41,233,756,932.05	41,480,045,870.16

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2 Consolidated Income Statement

Prepared by: Tangshan Jidong Cement Co., Ltd.

1 January 2017 to 30 June 2017

1 January 2017 to 30	June 2017	June 2017
	Unit and Currency: RMB
		Amount for the
	Amount for the
Item		corresponding period
	reporting period
		of the previous year
I. Total operating revenue	6,543,799,859.83	5,259,491,667.91
Including: Operating revenue	6,543,799,859.83	5,259,491,667.91
Interest income
Premiums earned
Fees and commissions income
II. Total operating costs	6,571,907,568.41	6,221,598,364.07
Including: Operating costs	4,665,679,111.80	4,533,754,583.67
Interest expenses
Fees and commissions expenses
Surrenders
Net compensation expenses
Net insurance contract reserves
Insurance policy dividend expenses
Reinsurance expenses
Business tax and surcharges	97,585,960.78	31,513,362.95
Selling expenses	273,602,502.87	189,717,707.88
Administrative expenses	927,391,433.62	833,319,860.12
Finance costs	592,117,270.38	618,358,855.01
Asset impairment losses	15,531,288.96	14,933,994.44
Add: Gains from changes in fair value (“-”
	-138,183,358.00	-203,063,408.00
indicating loss)
Investment gains (“-”indicating loss)	-976,486.68	-69,874,404.14
Including: Share of profits of associates and
	-340,230.21	-69,874,404.14
joint ventures
Foreign exchange gains (“-”indicating loss)
Othergains	86,790,981.51
III. Operating profit (“-” indicating loss)	-80,476,571.75	-1,235,044,508.30
Add: Non-operating income	30,209,677.18	93,813,320.48
Including: Gains on disposal of non-current
	7,253,314.84	4,528,178.89
assets
Less: Non-operating expenses	4,981,958.60	6,978,034.70
Including: Losses on disposal of non-current
	2,752,640.84	1,358,446.93
assets
IV. Total profit (“-” indicating total loss)	-55,248,853.17	-1,148,209,222.52
Less: Income tax expenses	39,292,336.47	-120,270,237.07
V. Net profit (“-” indicating net loss)	-94,541,189.64	-1,027,938,985.45
Net profit attributable to the owners of the parent
	-110,742,253.32	-927,693,950.18
company
Gains/losses of minority interests	16,201,063.68	-100,245,035.27

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VI. Other comprehensive income (net of tax)	-30,849,951.66	-198,352,849.04
Other comprehensive income (net of tax)
	-30,849,951.66	-198,352,849.04
attributable to owners of the parent company
(1) Other comprehensive income that will not
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
(2) Other comprehensive income that will be
	-30,849,951.66	-198,352,849.04
reclassified to profit or loss subsequently
1.Share of other comprehensive income (that
will be reclassified to profit or loss subsequently) of	881,140.98	1,017,542.30
investees accounted for using equity method
2.Gains or losses arising from changes in
	-31,731,092.64	-199,370,391.34
fair value of available-for-sale financial assets
3.Gains or losses from reclassifying held-to-
maturity investments to available-for-sale financial
assets
4.Effective portion of cash flow adjusted for
hedging gains or losses
5.Exchange differences on foreign currency
translation
6.Others
Other comprehensive income (net of tax)
attributable to minority interests
VII. Total comprehensive income	-125,391,141.30	-1,226,291,834.49
Total comprehensive income attributable to the
	-141,592,204.98	-1,126,046,799.22
owners of the parent company
Total comprehensive income attributable to
	16,201,063.68	-100,245,035.27
minority interests
VIII. Earnings per share:
(1) Basic earnings per share (RMB/share)	-0.082	-0.688
(2)Diluted earnings pershare (RMB/share)	-0.082	-0.688

• 6 -

3 Consolidated Statement of Cash Flows

Prepared by: Tangshan Jidong Cement Co., Ltd.

1 January 2017 to 30 June 2017 Unit and Currency: RMB	1 January 2017 to 30 June 2017 Unit and Currency: RMB	1 January 2017 to 30 June 2017 Unit and Currency: RMB
		Amount for the
Item	Amount for the period	corresponding period of
		the previous year
I. Cash flows from operating activities:
Cash received from sale of goods and
	4,744,709,792.60	4,750,165,568.05
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	49,616,620.57	41,039,889.12
Cash received from other operating activities	155,963,268.36	159,569,052.72
Subtotal of cash inflows from operating
	4,950,289,681.53	4,950,774,509.89
activities

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Cash paid for purchasing goods and
	2,373,863,939.62	2,240,025,165.68
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
	715,686,673.67	605,917,936.71
employees
Taxes and levies paid	792,451,542.19	417,566,293.32
Cash paid for other operating activities	301,232,992.67	221,739,224.46
Subtotal of cash outflows from operating
	4,183,235,148.15	3,485,248,620.17
activities
Net cash flows arising from operating
	767,054,533.38	1,465,525,889.72
activities
II. Cash flows from investing activities:
Cash received from redemption of
investments
Cash received from return on investments	122,165,000.00	40,244,000.00
Net cash received from disposal of fixed
assets, intangible assets and other long-term	43,457,646.81	2,362,611.37
assets
Net cash received from disposal of
	832,442,240.00
subsidiaries and other business entities
Cash received from other investing activities	65,060,225.38	4,604,684.98
Subtotal of cash inflows from investing
	1,063,125,112.19	47,211,296.35
activities
Cash paid for acquisition of fixed assets,
	250,934,361.62	179,559,001.38
intangible assets and other long-term assets
Cash paid for investments
Net increase in pledged loans
Net cash paid for acquisition of subsidiaries
and other business entities
Cash paid for other investing activities	60,000,000.00	12,080,000.00
Subtotal of cash outflows from investing
	310,934,361.62	191,639,001.38
activities
Net cash flows arising from investing
	752,190,750.57	-144,427,705.03
activities

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III. Cash flows from financing activities:
Cash received from capital contributions		19,110,000.00
Including: Cash received by subsidiaries
		19,110,000.00
from investments of minority interests
Cash received from borrowings	7,382,650,000.00	6,057,150,000.00
Cash received from issuance of bonds
Cash received from other financing activities	1,674,185,941.64	3,792,524,004.19
Subtotal of cash inflows from financing
	9,056,835,941.64	9,868,784,004.19
activities
Cash paid for debts settlement	7,645,310,099.83	6,403,536,054.70
Cash paid for the distribution of dividends,
	427,092,051.22	482,425,124.04
profits or interest payments
Including: Dividends and profits paid by
	4,430,800.00	244,120.00
subsidiaries to minority interests
Cash paid for other financing activities	2,173,954,899.36	3,864,174,750.10
Subtotal of cash outflows from financing
	10,246,357,050.41	10,750,135,928.84
activities
Net cash flows arising from financing
	-1,189,521,108.77	-881,351,924.65
activities
IV. Effects of exchange rate fluctuations
on cash and cash equivalents
V. Net increase in cash and cash
	329,724,175.18	439,746,260.04
equivalents
Add: Opening balance of cash and cash
	2,514,366,781.83	1,750,562,966.03
equivalents
VI. Closing balance of cash and cash
	2,844,090,957.01	2,190,309,226.07
equivalents

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