BBMG Corporation — Interim / Quarterly Report 2021

Oct 27, 2021

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 集 團 股 份 有 限 公 司 *** BBMG Corporation**

(a joint stock company incorporated in the People’s Republic of China with limited liability) (Stock Code: 2009)

OVERSEAS REGULATORY ANNOUNCEMENT ANNOUNCEMENT REGARDING THE PUBLICATION OF 2021 THIRD QUARTER 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 ”), published the “Jidong Cement 2021 Third Quarter Report” (《冀東水泥 2021 年第三 季度報告》) in China Securities Journal (《中國證券報》), Securities Times (《證券時報》) and the website of CNINFO (www.cninfo.com.cn) (巨潮資訊網) on 26 October 2021.

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

By order of the Board BBMG Corporation* Zeng Jin Chairman

Beijing, the PRC, 27 October 2021

As at the date of this announcement, the executive directors of the Company are Zeng Jin, Jiang Yingwu, Wu Dong and Zheng Baojin; the non-executive directors of the Company are Wang Zhaojia and Gu Tiemin; and the independent non-executive directors of the Company are Yu Fei, Liu Taigang, Li Xiaohui, Hong Yongmiao and Tam Kin Fong.

• 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 September 2021

	Unit and Currency: RMB	Unit and Currency: RMB
Item	30 September 2021	31 December 2020
Current Assets:
Cash and bank balances	7,745,293,811.09	5,896,553,283.87
Settlement reserves
Loans to banks or other financial institutions
Held for trading financial assets
Derivative financial assets
Bills receivable	139,190,765.28	217,498,999.83
Accounts receivable	1,908,918,557.22	1,972,242,331.26
Accounts receivable financing	1,875,207,518.48	3,177,500,168.25
Advances to suppliers	1,339,305,291.78	1,133,767,612.78
Premiums receivable
Reinsurance accounts receivable
Reinsurance contract reserve receivable
Other receivables	573,597,630.83	483,270,231.79
Including: Interest receivables	2,041,882.79
Dividend receivables
Purchase and sell-back of financial assets
Inventories	3,578,256,896.16	2,706,984,382.83
Contract assets
Assets held for sale
Non-current assets due within one year
Other current assets	381,952,728.21	380,817,612.22
Total current assets	17,541,723,199.05	15,968,634,622.83
Non-current assets:
Loans and advances
Debt investments
Other debt investments
Long-term receivables
Long-term equity investments	1,687,972,359.09	1,779,610,480.34
Other instruments in equity instruments	325,270,251.26	340,964,889.61
Other non-current financial assets
Investment properties
Fixed assets	31,807,991,781.64	31,336,985,990.22
Construction in progress	1,233,251,780.19	1,519,562,336.86

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Productive biological assets
Oil and gas assets
Right-of-use assets	225,393,290.29	233,669,061.01
Intangible assets	5,659,979,620.95	5,384,359,363.11
Development expenses
Goodwill	314,461,729.47	311,019,966.70
Long-term prepaid expenses	1,337,337,533.52	1,202,271,788.40
Deferred tax assets	690,395,515.71	711,525,960.04
Other non-current assets	327,140,112.57	158,694,911.05
Total non-current assets	43,609,193,974.69	42,978,664,747.34
Total assets	61,150,917,173.74	58,947,299,370.17
Current liabilities:
Short-term loans	2,641,241,668.42	2,345,893,596.66
Borrowings from central bank
Loans from banks and other financial institutions
Held for trading financial liabilities
Derivative financial liabilities
Bills payable	221,292,607.82	317,427,596.69
Accounts payable	3,927,049,079.59	3,974,704,809.76
Receipts in advance
Contract liabilities	1,476,696,080.63	834,474,731.30
Financial assets sold for repurchase
Deposits from customers and inter-bank deposits
Amount paid for agency securities trading
Amount paid for agency securities underwriting
Payroll payable	52,376,228.49	154,047,227.67
Taxes payable	543,123,442.06	667,596,993.65
Other payables	2,898,691,988.73	1,903,595,090.48
Including: Interest payables	146,223,142.95	110,357,378.94
Dividend payables	198,755,399.19	5,248,131.61
Fees and commissions payable
Reinsurance accounts payable
Liabilities held for sale
Non-current liabilities due within one year	1,996,224,865.21	1,573,591,950.79
Other current liabilities	228,176,295.10	1,992,513,387.33
Total current liabilities	13,984,872,256.05	13,763,845,384.33

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Non-current liabilities:
Insurance contract reserve payable
Long-term loans	5,017,500,000.00	4,389,280,000.00
Bonds payable	6,015,121,718.83	5,836,509,724.72
Including: Preferred
Perpetual
Lease liabilities	68,179,969.19	76,479,854.36
Long-term payables	1,073,549,170.18	1,435,079,048.01
Long-term payroll payable	11,406,691.97	11,714,938.31
Provisions	530,379,382.89	575,737,863.71
Deferred income	463,714,116.11	484,316,534.20
Deferred income tax liabilities	228,657,744.63	224,965,355.43
Other non-current liabilities
Total non-current liabilities	13,408,508,793.80	13,034,083,318.74
Total liabilities	27,393,381,049.85	26,797,928,703.07
Owners’ equity:
Share capital	1,413,651,757.00	1,347,522,914.00
Other equity instruments	3,274,621,636.80	3,445,909,665.47
Including: Preferred
Perpetual	2,983,018,867.89	2,983,018,867.89
Capital reserve	4,231,893,313.09	3,248,127,299.22
Less: Treasury shares
Other comprehensive income	-95,976,506.30	-85,887,006.79
Specific reserve	78,711,235.44	55,813,843.37
Surplus reserve	1,014,639,449.76	1,014,639,449.76
General risk provision
Retained earnings	9,645,869,030.19	8,684,888,407.20
Total equity attributable to owners of the parent
	19,563,409,915.98	17,711,014,572.23
company
Minority interests	14,194,126,207.91	14,438,356,094.87
Total owners’ equity	33,757,536,123.89	32,149,370,667.10
Total liabilities and owners’ equity	61,150,917,173.74	58,947,299,370.17

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2 Consolidated Income Statement

Prepared by: Tangshan Jidong Cement Co., Ltd.

1 January 2021 to 30 September 2021

	Unit and Currency: RMB	Unit and Currency: RMB
	Amount for the	Amount for the
Item
	current period	previous period
I. Total operating revenue	26,203,722,464.90	25,154,451,935.41
Including: Operating revenue	26,203,722,464.90	25,154,451,935.41
Interest income
Premiums earned
Fees and commissions income
II. Total operating costs	23,366,447,921.20	21,140,284,696.98
Including: Operating costs	18,964,128,717.92	16,408,537,207.37
Interest expenses
Fees and commissions expenses
Surrenders
Net compensation expenses
Net insurance contract reserves
Insurance policy dividend expenses
Reinsurance expenses
Business tax and surcharges	403,256,640.95	387,056,064.31
Selling expenses	818,438,459.27	928,020,196.07
Administrative expenses	2,565,644,334.08	2,584,827,701.41
Research and development expenses	142,726,131.55	129,928,384.04
Finance costs	472,253,637.43	701,915,143.78
Including: Interest expenses	540,904,728.33	766,671,079.52
Interest income	75,373,916.94	65,572,264.78
Add: Other Gains	507,070,456.35	516,947,540.63
Investment gains (“-”indicating loss)	318,606,874.63	357,303,073.22
Including: Share of profits of associates and
	270,645,356.39	348,253,360.15
joint ventures
Derecognition gains on financial
assets measured at amortized cost
Foreign exchange gains (“-”indicating loss)
Net gains from hedging exposure (“-” indicating
loss)
Gains from changes in fair value (“-” indicating
loss)
Credit impairment losses (“-”indicating loss)	-51,554,087.95	-38,082,107.61
Asset impairment losses (“-”indicating loss)	-212,183.75
Gain on disposal of assets (“-”indicating loss)	6,051,144.72	195,110.09

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III. Operating profit (“-” indicating loss)	3,617,236,747.70	4,850,530,854.76
Add: Non-operating income	233,125,374.92	53,882,387.35
Less: Non-operating expenses	30,743,146.11	52,444,511.19
IV. Total profit (“-” indicating total loss)	3,819,618,976.51	4,851,968,730.92
Less: Income tax expenses	783,977,862.66	1,099,269,209.05
V. Net profit (“-” indicating net loss)	3,035,641,113.85	3,752,699,521.87
(1) Classified by continuity of operations
1. Net profit from continuing operations (“-”
	3,035,641,113.85	3,752,699,521.87
indicating net loss)
2. Net profit from discontinued operations (“-”
indicating net loss)
(2) Classified by attribution of ownership
1. Net profit attributable to the owners of the
	1,820,805,059.99	2,094,326,386.11
parent company
2. Gains/losses of minority interests	1,214,836,053.86	1,658,373,135.76
VI. Other comprehensive income (net of tax)	-10,470,433.11	12,948,112.42
Other comprehensive income (net of tax)
	-10,089,499.51	12,948,112.42
attributable to owners of the parent company
(1) Other comprehensive income that will not
	-11,516,821.87	12,233,943.20
be reclassified into profit or loss subsequently
1. Changes arising from re-measurement of
net liabilities or net assets of defined benefit plans
2. Share of other comprehensive income
(that will not be reclassified to profit or loss) of
investees accounted for using equity method
3. Changes in fair value arising from other
	-11,516,821.87	12,233,943.20
equity instruments investments
4. Changes in fair value arising from the
enterprise’s credit risk
5. Others
(2) Other comprehensive income that will be
	1,427,322.36	714,169.22
reclassified to profit or loss
1. Comprehensive income (that will be
reclassified to profit or loss) accounted for using	1,427,322.36	714,169.22
equity method
2. Gains or losses arising from changes in
fair value of other debt investments
3. Gains or losses arising from changes in
fair value of available-for-sale financial assets
4. Amount of financial assets reclassified to
other comprehensive income
5. Gains or losses on reclassification of held-
to-maturity investment to available-for-sale
financial assets

• 6 -

6. Credit impairment arising from other debt
investments
7. Hedging reserve arising from cash flows
hedging
8. Exchange differences on foreign currency
translation
9. Others
Other comprehensive income (net of tax)
	-380,933.60
attributable to minority interests
VII. Total comprehensive income	3,025,170,680.74	3,765,647,634.29
Total comprehensive income attributable to the
	1,810,715,560.48	2,107,274,498.53
owners of the parent company
Total comprehensive income attributable to
	1,214,455,120.26	1,658,373,135.76
minority interests
VIII. Earnings per share:
(1) Basic earnings per share (RMB/share)	0.7738	0.7041
(2) Diluted earnings per share (RMB/share)	0.7738	0.7041

• 7 -

3 Consolidated Statement of Cash Flows

Prepared by: Tangshan Jidong Cement Co., Ltd.

1 January 2021 to 30 September 2021

Unit and Currency: RMB	Unit and Currency: RMB	Unit and Currency: RMB
	Amount for the current	Amount for the previous
Item
	period	period
I. Cash flows from operating activities:
Cash received from sale of goods and
	25,879,154,268.88	22,912,431,058.20
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	356,620,574.93	321,879,521.38
Cash received from other operating activities	654,048,521.72	660,782,359.38
Subtotal of cash inflows from operating
	26,889,823,365.53	23,895,092,938.96
activities

• 8 -

Cash paid for purchasing goods and
	15,996,668,646.37	11,542,133,371.93
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
	2,288,190,157.20	1,994,492,187.40
employees
Taxes and levies paid	2,796,452,881.98	2,608,251,568.34
Cash paid for other operating activities	1,035,994,051.40	814,575,400.51
Subtotal of cash outflows from operating
	22,117,305,736.95	16,959,452,528.18
activities
Net cash flows arising from operating
	4,772,517,628.58	6,935,640,410.78
activities
II. Cash flows from investing activities:
Cash received from redemption of
	9,743,521.67
investments
Cash received from return on investments	425,587,742.63	406,873,324.51
Net cash received from disposal of fixed
assets, intangible assets and other long-term	154,149,889.26	15,120,694.42
assets
Net cash received from disposal of
		56,743,244.03
subsidiaries and other business entities
Cash received from other investing activities	7,614,103.01	59,929,928.00
Subtotal of cash inflows from investing
	597,095,256.57	538,667,190.96
activities
Cash paid for acquisition of fixed assets,
	1,567,529,783.30	1,795,745,654.38
intangible assets and other long-term assets
Cash paid for investments	166,504,706.00	198,599,301.66
Net increase in pledged loans
Net cash paid for acquisition of subsidiaries
and other business entities
Cash paid for other investing activities	60,555.54	39,885,206.26
Subtotal of cash outflows from investing
	1,734,095,044.84	2,034,230,162.30
activities
Net cash flows arising from investing
	-1,136,999,788.27	-1,495,562,971.34
activities

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III. Cash flows from financing activities:
Cash received from capital contributions	170,800,000.00
Including: Cash received by subsidiaries
	170,800,000.00
from investments of minority interests
Cash received from borrowings	7,082,520,000.00	5,683,480,000.00
Cash received from other financing activities	367,760,253.52	3,891,514,885.13
Subtotal of cash inflows from financing
	7,621,080,253.52	9,574,994,885.13
activities
Cash paid for debts settlement	3,755,580,000.00	8,935,645,000.00
Cash paid for the distribution of dividends,
	2,615,261,720.06	2,402,073,690.23
profits or interest payments
Including: Dividends and profits paid by
	1,553,998,490.54	1,204,795,166.67
subsidiaries to minority interests
Cash paid for other financing activities	3,204,687,133.51	2,935,840,044.31
Subtotal of cash outflows from financing
	9,575,528,853.57	14,273,558,734.54
activities
Net cash flows arising from financing
	-1,954,448,600.05	-4,698,563,849.41
activities
IV. Effects of exchange rate fluctuations
on cash and cash equivalents
V. Net increase in cash and cash
	1,681,069,240.26	741,513,590.03
equivalents
Add: Opening balance of cash and cash
	5,598,793,030.35	5,717,932,733.55
equivalents
VI. Closing balance of cash and cash
	7,279,862,270.61	6,459,446,323.58
equivalents

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