RoboSense Technology Co., Ltd — Interim / Quarterly Report 2018

Apr 27, 2018

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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FIRST QUARTERLY REPORT 2018

I. IMPORTANT NOTICE

• 1.1 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.

• 1.2 All Directors attended the Board meeting to consider this quarterly report of the Company.

• 1.3 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.

• 1.4 This first quarterly report of the Company is unaudited.

• For identification purposes only

– 1 –

II. BASIC INFORMATION OF THE COMPANY

2.1 Major Financial Data

Unit: yuan Currency: RMB

		At the end of the previous year	At the end of the previous year	Increase/decrease
				at the end of
				the reporting period
	At the end of			as compared with
	the reporting	After the	Before the	the end of
	period	adjustment	adjustment	the previous year
				(%)
Total assets	3,011,943,364.15	3,177,396,213.51	1,244,573,294.80	-5.21
Net assets attributable to shareholders
of the Company	532,589,473.77	959,643,285.77	524,427,714.44	-44.50
		From beginning of the previous year
	From beginning	to the end of the	reporting period
	of the year to	of the previous year
	the end of the	After the	Before the	Year-on-year
	reporting period	adjustment	adjustment	increase/decrease
				(%)
Net cash flows from operating activities	-27,530,182.16	-81,565,355.47	-29,306,072.80	N/A
		From beginning of the previous year
	From beginning	to the end of the	reporting period
	of the year to	of the previous year
	the end of the	After the	Before the	Year-on-year
	reporting period	adjustment	adjustment	increase/decrease
				(%)
Operating income	242,130,605.33	271,907,622.96	76,356,597.31	-10.95
Net profit attributable to shareholders
of the Company	4,066,624.86	12,309,262.42	1,158,297.48	-66.96
Net profit attributable to shareholders
of the Company after deducting
extraordinary profit or loss	-7,222,487.63	-1,508,949.54	-1,508,949.54	N/A
Weighted average return on net assets (%)				Decreased by 0.99
	0.42	1.41	0.22	percentage points
Basic earnings per share (RMB/share)	0.0074	0.0225	0.0022	-67.11
Diluted earnings per share (RMB/share)	0.0074	0.0225	0.0022	-67.11

– 2 –

Explanation:

As for the significant asset restructuring of the Company, the delivery of assets and change of business registration for each of CNBM (Hefei) New Energy Company Limited ( 中建材（合肥）新能源有限公司 ) and CNBM (Tongcheng) New Energy Materials Company Limited ( 中國建 材桐城新能源材料有限公司 ) have been completed in the reporting period. Therefore, the aforesaid two companies have been incorporated into the consolidation scope of the Company and accounted for as subsidiaries formed through business combination under common control in the consolidated financial statements, and the retrospective adjustments had been made to the comparative financial statements. All the following financial data at the beginning of the reporting period and for the same period of the previous year in this report are adjusted.

As at the end of the reporting period, the Company is going through the equity registration procedures in respect of the shares issued for acquisition of assets (the share capital has been increased by 22,578,940 shares, including 19,549,664 shares issued due to business combination under common control). In calculating the basic earnings per share, the earnings per share has been calculated based on the numbers of shares after the business combination under common control so as to correspond with the net profit attributable to the shareholders of the Company.

Extraordinary Items and Amounts

Unit: yuan Currency: RMB

Items 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) Profit or loss from debt restructuring Net profit or loss for the period of subsidiaries formed by business combination under common control from the beginning of the period to the date of combination Other non-operating income and expenses excluding the aforesaid items Effect of minority interests (after tax) Effect of income tax Total

Amount for the reporting period Explanation 1,125,395.66 72,394.41 11,640,918.83 300.00 -1,428,680.58 -121,224.83 11,289,103.49

– 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 shareholders 58,178, including 58,132 holders of A Shares and 46 holders of H Shares

Shareholdings of the top 10 shareholders

	Number of		Number of
	shares held as		shares subject	Pledged or frozen
	at the end of the	Shareholding	to trading	Status of		Nature of
Name of shareholders (full name)	reporting period	percentage	moratorium	shares	Number	shareholder
		(%)
HKSCC NOMINEES LIMITED	248,680,699	47.21	0	Unknown	0	Overseas legal
						person
China Luoyang Float Glass (Group)	105,018,242	19.94	15,000,000	Pledged	41,000,000	State-owned legal
Company Limited						person
(CNBM) Bengbu Design & Research	69,000,000	13.10	0	Nil	0	State-owned legal
Institute for Glass Industry Co., Ltd.						person
Beijing Taiji Huaqing Information	1,000,000	0.19	0	Unknown	0	Unknown
System Co., Ltd.
Hong Kong Securities Clearing	481,434	0.09	0	Unknown	0	Overseas legal
Company Limited						person
CHUK YEE MEN LIZA	374,000	0.07	0	Unknown	0	Overseas legal
						person
Jin Ruiming (金瑞明)	315,394	0.06	0	Unknown	0	Domestic natural
						person
Liu Bibo(劉碧波)	300,000	0.06	0	Unknown	0	Domestic natural
						person
Beijing Taiji Huaqing Peicheng	300,000	0.06	0	Unknown	0	Unknown
Software Technology Co., Ltd.
Zhao Shengqi(趙生奇)	284,100	0.05	0	Unknown	0	Domestic natural
						person

– 4 –

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

	Number of
	circulating
	shares held not
	subject to trading	Class and number of shares
Name of shareholders	moratorium	Class	Number
HKSCC NOMINEES LIMITED	248,680,699	Overseas listed foreign	248,680,699
		shares
China Luoyang Float Glass (Group) Company Limited	90,018,242	Ordinary shares	90,018,242
		denominated in RMB
(CNBM) Bengbu Design & Research Institute for	69,000,000	Ordinary shares	69,000,000
Glass Industry Co., Ltd.		denominated in RMB
Beijing Taiji Huaqing Information System Co., Ltd.	1,000,000	Ordinary shares	1,000,000
		denominated in RMB
Hong Kong Securities Clearing Company Limited	481,434	Ordinary shares	481,434
		denominated in RMB
CHUK YEE MEN LIZA	374,000	Overseas listed	374,000
		foreign shares
Jin Ruiming(金瑞明)	315,394	Ordinary shares	315,394
		denominated in RMB
Liu Bibo(劉碧波)	300,000	Ordinary shares	300,000
		denominated in RMB
Beijing Taiji Huaqing Peicheng Software	300,000	Ordinary shares	300,000
Technology Co., Ltd.		denominated in RMB
Zhao Shengqi(趙生奇)	284,100	Ordinary shares	284,100
		denominated in RMB

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

• China Luoyang Float Glass (Group) Company Limited and (CNBM) Bengbu Design & Research Institute for Glass Industry Co., Ltd. are connected parties acting in concert as defined by 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》( ) among the top ten shareholders of the Company. The Company is not aware of any parties acting in concert or any connected relationship among other shareholders of circulating shares.

Explanations on preferential shareholders with voting None rights restored and the number of shares held

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

• 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 –

• 2.3 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

Applicable

• ✓ Not applicable

III. SIGNIFICANT EVENTS

• 3.1 Details of and reasons for material changes in the major financial statement items and financial indicators of the Company

	Amount at	Amount at
	the end of	the beginning
Item	the period	of the period	Changes	Explanation
			(%)
Bills receivable	173,295,082.75	350,660,473.07	-50.58	Decrease in the bills
				received during the
				reporting period
Prepayments	30,320,357.58	19,454,303.05	55.85	Increase in the
				prepayment made to
				suppliers during the
				reporting period
Inventories	201,744,747.88	154,822,339.07	30.31	Increase in the
				inventories in the
				reporting period
Construction in progress	191,143,151.78	120,932,797.62	58.06	Increase in the project
				investments during
				the reporting period
Bills payable	91,362,400.00	61,142,491.22	49.43	Increase in the bill
				financing during the
				reporting period
Receipts in advance	24,528,776.20	12,477,817.10	96.58	Increase in the payment
				in advance for goods
				during the reporting
				period
Other payables	765,076,114.96	372,958,435.60	105.14	Increase in the
				consideration payable
				in respect of asset
				restructuring during
				the reporting period

– 6 –

	Amount from the
	beginning of the
	year to the end	Amount for
	of the reporting	the same period
Item	period	last year	Changes	Explanation
			(%)
Taxes and surcharges	5,001,738.26	2,818,208.66	77.48	Addition of the land-use tax and
				property tax during the reporting
				period
Selling expenses	6,537,832.56	9,628,134.03	-32.10	Year-on-year decrease in the sales,
				resulting in the decrease in
				transportation costs accordingly
				during the reporting period
Finance expenses	18,109,021.29	11,678,750.48	55.06	Increase in the interest on
				borrowings and the discount
				interest expenses during the
				reporting period
Other income	2,000,440.48	100.00		Classification of the government
				grants relating to the corporate
				daily activities into the other
				income in accordance with the
				Enterprise Accounting Standard
				No.16 – Government Grants
				during the reporting period
Non-operating income	81,694.41	3,689,705.21	-97.79	Classification of the government
				grants relating to the corporate
				daily activities into the other
				income in accordance with the
				Enterprise Accounting Standard
				No.16 – Government Grants
				during the reporting period,
				while it was presented under the
				non-operating income for the
				same period last year
Net cash flows from operating	-27,530,182.16	-81,565,355.47	N/A	Year-on-year increase in cash
activities				received for sale of commodities
				and provision of services during
				the reporting period
Net cash flow from	-40,105,523.39	22,700,214.74	-276.67	Increase in the project investment
investment activities				expenditure during the reporting
				period
Net cash flow from financing	-2,202,352.40	-48,184,795.34	N/A	Year-on-year decrease in the net
activities				financing expenses during the
				reporting period

– 7 –

3.2 Analysis and explanation of progress and impact of significant events and their solutions

On 13 April 2018, the transfer of all assets involved in the significant asset restructuring of the Company has been completed. And the registration formalities for the 33,030,516 new shares (all being the circulating shares subject to trading moratorium) involved in the issuance of shares for acquisition of assets was completed with the Shanghai Branch of China Securities Depository and Clearing Corporation Limited on 18 April 2018. Upon completion of the issuance, the Company has a total share capital of 559,797,391 shares. Details are set out in the relevant announcements disclosed on the websites of the Shanghai Stock Exchange (www.sse.com.cn) and the Hong Kong Stock Exchange (www.hkexnews.hk) on 19 April 2018.

3.3 Overdue undertakings not fully performed during the reporting period

Applicable ✓ Not applicable

• 3.4 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

Applicable ✓ Not applicable

– 8 –

IV. APPENDIX

4.1 Financial Statements

Consolidated Balance Sheet

31 March 2018

Prepared by: Luoyang Glass Company Limited*

Unit: yuan Currency: RMB Type of	Unit: yuan Currency: RMB Type of	audit: unaudited
		Balance as at the
	Balance as at the	beginning of the
Item	end of the period	year
Current assets:
Bank balance and cash	167,411,523.68	200,396,960.48
Bills receivables	173,295,082.75	350,660,473.07
Accounts receivable	356,701,158.78	395,519,910.26
Prepayments	30,320,357.58	19,454,303.05
Interest receivable
Dividend receivable
Other receivables	76,489,691.96	90,306,130.88
Purchases of resold financial assets
Inventories	201,744,747.88	154,822,339.07
Assets classified as held-for-sale
Non-current assets due within one year
Other current assets	12,305,493.47	11,018,154.44
Total current assets	1,018,268,056.10	1,222,178,271.25

– 9 –

Item Non-current assets: Available-for-sale financial assets Held-to-maturity investment Long-term receivables Long-term equity investment Investment properties Fixed assets Construction in progress Engineering materials Disposal of fixed assets Productive biological assets Oil and gas assets Intangible assets Development expenditures Goodwill Long-term deferred expenses Deferred income tax assets Other non-current assets Total non-current assets Total assets	Balance as at the end of the period 55,000,000.00 1,474,619,603.51 191,143,151.78 13,980.58 261,663,858.44 4,831,623.35 2,402,527.01 4,000,563.38 1,993,675,308.05 3,011,943,364.15	Balance as at the beginning of the year 55,000,000.00 1,499,428,320.55 120,932,797.62 13,980.58 263,450,177.77 5,539,138.34 2,487,094.77 8,366,432.63
		1,955,217,942.26
		3,177,396,213.51

– 10 –

Item Current liabilities: Short-term borrowings Bills payables Accounts payable Receipts in advance Disposal of repurchased financial assets Handling charges and commissions payable Employee compensation payable Taxes payable Interest payable Dividend payable Other payables Liabilities classified as held-for-sale Non-current liabilities due within one year Other current liabilities Total current liabilities Non-current liabilities: Long-term borrowings Deferred income Deferred income tax liabilities Other non-current liabilities Total non-current liabilities Total Liabilities	Balance as at the end of the period 586,984,000.00 91,362,400.00 476,292,085.79 24,528,776.20 14,406,213.01 22,411,652.67 3,653,950.71 765,076,114.96 111,552,068.94 2,096,267,262.28 275,228,924.98 107,857,703.12 383,086,628.10 2,479,353,890.38	Balance as at the beginning of the year 637,509,000.00 61,142,491.22 509,867,824.75 12,477,817.10 18,942,486.90 26,762,929.20 2,951,483.41 372,958,435.60 136,946,248.22
		1,779,558,716.40
		280,796,745.65 108,193,683.26
		388,990,428.91
		2,168,549,145.31

– 11 –

				Balance as at the
		Balance as at the		beginning of the
Item		end of the period		year
Owners’ equity
Share capital		526,766,875.00		526,766,875.00
Other equity instruments
Including: Preferential shares
Perpetual bonds
Capital reserve		1,297,282,271.53		1,728,402,708.39
Less: Treasury stock
Other comprehensive income
Special reserve
Surplus reserve		51,365,509.04		51,365,509.04
General risk provisions
Undistributed profit		-1,342,825,181.80		-1,346,891,806.66
Total owners’ equity attributable to owners
of the Company		532,589,473.77		959,643,285.77
Minority interests				49,203,782.43
Total owners’ equity		532,589,473.77		1,008,847,068.20
Total liabilities and owners’ equity		3,011,943,364.15		3,177,396,213.51
Legal	Person in charge of Person in charge of
representative:	accounting: accounting department:
Zhang Chong	Ma Yan	Chen Jing

– 12 –

Balance Sheet of the Company 31 March 2018

Prepared by: Luoyang Glass Company Limited*

Unit: yuan Currency:	RMB Type of	audit: unaudited
	Balance as	Balance as
	at the end of	at the beginning
Item	the period	of the year
Current Assets:
Bank balance and cash	62,557,849.29	52,744,789.07
Bills receivables	6,937,047.67	7,469,611.05
Accounts receivable	201,822,633.45	204,327,727.83
Prepayments	65,564.41	30,238.87
Interest receivable
Dividend receivable
Other receivables	16,949,615.72	31,131,296.66
Inventories
Assets classified as held-for-sale
Non-current assets due within one year
Other current assets	132,296.67	489,663.39
Total current assets	288,465,007.21	296,193,326.87

– 13 –

Item Non-current assets: Available-for-sale financial assets Held-to-maturity investment Long-term receivables Long-term equity investment Investment properties Fixed assets Construction in progress Engineering materials Disposal of fixed assets Productive biological assets Oil and gas assets Intangible assets Development expenditures Goodwill Long-term deferred expenses Deferred income tax assets Other non-current assets Total non-current assets Total assets	Balance as at the end of the period 55,000,000.00 1,420,739,493.86 2,420,789.36 63,228,943.23 135,000.00 1,541,524,226.45 1,829,989,233.66	Balance as at the beginning of the year 55,000,000.00 868,986,593.99 2,508,762.95 63,612,709.86 162,000.00 990,270,066.80 1,286,463,393.67

– 14 –

Item Current liabilities Short-term borrowings Bills payable Accounts payable Receipts in advance Employee compensation payable Taxes payable Interest payable Dividend payable Other payables Liabilities classified as held-for-sale Non-current liabilities due within one year Other current liabilities Total current liabilities Non-current liabilities: Long-term borrowings Deferred income Deferred income tax liabilities Other non-current liabilities Total non-current liabilities Total Liabilities	Balance as at the end of the period 266,984,000.00 80,000,000.00 4,940,794.34 18,766,774.79 5,470,972.55 629,726.41 950,403,015.67 404,406.94 1,327,599,690.70 432,121.98 432,121.98 1,328,031,812.68	Balance as at the beginning of the year 347,509,000.00 5,062,801.26 7,813,062.37 8,089,982.67 566,122.59 472,432.69 465,380,879.74 404,406.94 835,298,688.26 606,605.65 606,605.65 835,905,293.91

– 15 –

			Balance as		Balance as
		at the end of			at the beginning
Item			the period		of the year
Owners’ equity:
Share capital		526,766,875.00			526,766,875.00
Other equity instruments
Including: Preferential shares
Perpetual bonds
Capital reserve		1,268,692,769.04			1,268,692,769.04
Less: Treasury stock
Other comprehensive income
Special reserve
Surplus reserve		51,365,509.04			51,365,509.04
Undistributed profit		-1,344,867,732.10			-1,396,267,053.32
Total owners’ equity		501,957,420.98			450,558,099.76
Total liabilities and owners’	equity	1,829,989,233.66			1,286,463,393.67
Legal	Person in charge of		Person in charge of
representative:	accounting:		accounting department:
Zhang Chong	Ma Yan		Chen Jing

– 16 –

Consolidated Income Statement January to March 2018

Prepared by: Luoyang Glass Company Limited*

Unit: yuan Currency: RMB Type of audit: unaudited

Amount for Amount for the the current corresponding Item period period last year I. Total operating revenue 242,130,605.33 271,907,622.96 Including: Operating revenue 242,130,605.33 271,907,622.96 II. Total operating costs 235,507,241.57 256,110,461.34 Including: Operating costs 173,834,540.49 200,877,473.80 Taxes and surcharges 5,001,738.26 2,818,208.66 Selling expenses 6,537,832.56 9,628,134.03 Administrative expenses 32,829,065.98 31,107,894.37 Financial expenses 18,109,021.29 11,678,750.48 Impairment losses of assets -804,957.01 Add: G ains from changes in fair value (loss is represented by “-”) Investment income (loss is represented by “-”) Including: Ga ins from investment in associates and joint ventures Gain on disposal of assets (loss is represented by “-”) Exchange gain (loss is represented by “-”) Other income 2,000,440.48

Item

– 17 –

		Amount for	Amount for the
		the current	corresponding
Item		period	period last year
III.	O perating profit (loss is represented by “-”)	8,623,804.24	15,797,161.62
	Add: Non-operating income	81,694.41	3,689,705.21
	Less: Non-operating expense		223,934.62
IV.	T otal profit (total loss is represented by “-”)	8,705,498.65	19,262,932.21
	Less: Income tax expenses	3,210,193.21	4,996,700.48
V.	Net profit (net loss is represented by “-”)	5,495,305.44	14,266,231.73
	(I) Classified on a going concern basis
	1. Net profit from continuing operation
	(Net loss is represented by “-”)	5,495,305.44	14,266,231.73
	2. Net profit from discontinued operation
	(Net loss is represented by “-”)
	(II) Classified by ownership
	1. Profit or loss attributable to
	minority interests	1,428,680.58	1,956,969.31
	2. Net profit attributable to the
	shareholders of the Company	4,066,624.86	12,309,262.42

– 18 –

		Amount for	Amount for the
		the current	corresponding
Item		period	period last year
VI.	Other comprehensive income, net of tax
VII.	Total comprehensive income	5,495,305.44	14,266,231.73
	Total comprehensive income attributable to
	owners of the Company	4,066,624.86	12,309,262.42
	Total comprehensive income attributable to
	minority interests	1,428,680.58	1,956,969.31
VIII.	Earnings per share:
	(I) Basic earnings per share (RMB/share)	0.0074	0.0225
	(II) Diluted earnings per share (RMB/share)	0.0074	0.0225

For the business combination under common control in the reporting period, the net profit realized by the combined party(ies) before the combination was RMB11,640,918.83, and the net profit realized by the combined party(ies) in the corresponding period last year was RMB13,107,934.25.

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

– 19 –

Income Statement of the Company

January–March 2018

Prepared by: Luoyang Glass Company Limited*

Unit: yuan Currency: RMB Type of audit: unaudited

Amount for the Amount for the corresponding Item current period period last year I. Operating revenue 41,982,264.15 33,313,480.41 Less: Operating costs 40,989,306.05 33,255,965.48 Taxes and surcharges 540,700.87 27,780.77 Selling expenses 176,399.05 94,330.23 Administration expenses 3,858,755.47 4,233,106.69 Finance expenses 7,556,393.23 3,700,752.70 Impairment loss on assets -249,261.08 Add: Gain from changes in fair value (losses are represented by “-”) Investment income (losses are represented by “-”) 62,253,843.74 2,721,375.00 Among which: Gains from investment in associates and joint ventures Gain on disposal of assets (losses are represented by “-”) Other income

– 20 –

			Amount for the
		Amount for the	corresponding
Item		current period	period last year
II.	O perating profit (loss is represented by “-”)	51,363,814.30	-5,277,080.46
	Add: Non-operating income	35,506.92	1,036,395.35
	Less: Non-operating expenses		200,506.12
III.	T otal profit (total loss is represented by “-”)	51,399,321.22	-4,441,191.23
	Less: Income tax expenses
IV.	N et profit (net loss is represented by “-”)	51,399,321.22	-4,441,191.23
	(I) Net profit from continuing operation
	(Net loss is represented by “-”)	51,399,321.22	-4,441,191.23
	(II) Net profit from discontinued operation
	(Net loss is represented by “-”)
V.	O ther comprehensive income, net of tax
VI.	Total comprehensive income	51,399,321.22	-4,441,191.23

• VI. Total comprehensive income

VII. Earnings per share:

• (I) Basic earnings per share (RMB/share)

• (II) Diluted earnings per share (RMB/share)

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

– 21 –

Consolidated Cash Flow Statement

January–March 2018

Prepared by: Luoyang Glass Company Limited*

Unit: yuan Currency: RMB Type of audit: unaudited

Item I. Cash flow from operating activities: Cash received from sale of goods or rendering of services Tax refunds received Other cash received from activities related to operation Sub-total of cash inflow from operating activities Cash paid for goods purchased and services received Cash paid to and on behalf of employees Tax payments Other cash paid for activities related to operation Sub-total of cash outflow from operating activities Net cash flow from operating activities	Amount for the current period 158,960,741.44 26,473.93 3,482,385.27 162,469,600.64 131,585,816.12 33,947,164.36 16,609,981.41 7,856,820.91 189,999,782.80 -27,530,182.16	Amount for the corresponding period last year 96,106,725.19 4,250,120.14
		100,356,845.33
		116,394,458.49 38,041,237.39 19,139,834.07 8,346,670.85
		181,922,200.80
		-81,565,355.47

– 22 –

Item II. Cash flow from investment activities: Cash from recovery of investments Cash received from investment income Net cash received from disposal of fixed assets, intangible assets and other long- term assets Cash received from disposal of subsidiaries and other operating entities Other cash received from activities related to investment Sub-total of cash inflow from investment activities Cash paid for purchase and construction of fixed assets, intangible assets and other long-term assets Cash paid for investment Net increase in pledged loans Net cash paid for acquisition of subsidiaries and other operating entities Other cash paid for activities related to investment Sub-total of cash outflow from investment activities Net cash flow from investment activities	Amount for the current period 15,301,668.89 15,301,668.89 55,407,192.28 55,407,192.28 -40,105,523.39	Amount for the corresponding period last year 23,783,372.88
		23,783,372.88
		1,083,158.14
		1,083,158.14
		22,700,214.74

– 23 –

				Amount for the
		Amount	for the	corresponding
Item		current	period	period last year
III.	Cash flow from financing activities:
	Cash received from investments
	Including: Cash received by subsidiaries
	from minority shareholders’
	investment
	Proceeds from loans	238,400,000.00		366,404,000.00
	Cash received from issuance of bonds
	Other cash received from financing-related
	activities	78,530,923.26		216,421,616.20
	Sub-total of cash inflow from financing
	activities	316,930,923.26		582,825,616.20
	Cash paid for repayment of loans	246,746,821.09		393,775,718.68
	Cash paid for dividends, profit, or interest
	payments	11,240,744.90		10,634,692.86
	Including: Dividend and profit paid by
	subsidiaries to minority
	shareholders
	Other cash paid for financing-related
	activities	61,145,709.67		226,600,000.00
	Sub-total of cash outflow from financing
	activities	319,133,275.66		631,010,411.54
	Net cash flow from financing activities	-2,202,352.40		-48,184,795.34
IV.	Effects of changes in exchange rate on
	cash and cash equivalents	-347,378.85		-49.82
V.	Net increase in cash and cash equivalents	-70,185,436.80		-107,049,985.89
	Add: Opening balance of cash and
	cash equivalents	198,996,960.48		171,003,324.92
VI.	C losing balance of cash and cash
	equivalents	128,811,523.68		63,953,339.03
	Legal Person in charge of		Person in charge of
	representative: accounting:		accounting department:
	Zhang Chong Ma Yan			Chen Jing

– 24 –

Cash Flow Statement of the Company January–March 2018

Prepared by: Luoyang Glass Company Limited*

Unit: yuan Currency: RMB Type of audit: unaudited

Item I. Cash flow from operating activities: Cash received from sale of goods or rendering of services Tax refunds received Other cash received from activities related to operation Sub-total of cash inflow from operating activities Cash paid for goods purchased and services received Cash paid to and on behalf of employees Tax payments Other cash paid for activities related to operation Sub-total of cash outflow from operating activities Net cash flow from operating activities	Amount for the current period 33,577,894.72 39,547,655.25 73,125,549.97 5,244,130.36 1,083,227.80 17,061,072.46 23,388,430.62 49,737,119.35	Amount for the corresponding period last year 16,410,823.92 27,446,323.19
		43,857,147.11
		86,900.00 4,602,692.60 3,835,366.26 69,741,649.69
		78,266,608.55
		-34,409,461.44

– 25 –

Item II. Cash flow from investment activities: Cash from recovery of investment Cash received from investment income Net cash received from disposal of fixed assets, intangible assets and other long-term assets Net cash received from disposal of subsidiaries and other operating entities Other cash received from activities related to investment Sub-total of cash inflows from investment activities Cash paid for purchase and construction of fixed assets, intangible assets and other long-term assets Cash paid for investment Net cash paid for acquisition of subsidiaries and other operating entities Other cash paid for activities related to investment Sub-total of cash outflow from investment activities Net cash flow from investment activities	Amount for the current period 15,301,668.89 15,301,668.89 70,000,000.00 70,000,000.00 -54,698,331.11	Amount for the corresponding period last year 23,783,372.88
		23,783,372.88
		561,545.00
		561,545.00
		23,221,827.88

– 26 –

			Amount for the
		Amount for the	corresponding
Item		current period	period last year
III. Cash flow from financing activities:
Cash received from investments
Proceeds from loans		235,084,000.00	235,904,000.00
Other cash received from financing-
related activities		399,600,801.15	331,301,260.71
Sub-total of cash inflow from
financing activities		634,684,801.15	567,205,260.71
Cash paid for repayment of loans		315,776,903.51	259,052,533.59
Cash paid for dividends, profit,	or
interest payments		3,135,051.01	2,134,346.60
Other cash paid for financing-related
activities		338,198,319.48	333,480,000.00
Sub-total of cash outflow from
financing activities		657,110,274.00	594,666,880.19
Net cash flow from financing
activities		-22,425,472.85	-27,461,619.48
IV. Effects of changes in exchange rate
on cash and cash equivalents		-255.17	-49.82
V. Net increase in cash and
cash equivalents		-27,386,939.78	-38,649,302.86
Add: Opening balance of cash and cash
equivalents		51,344,789.07	64,837,249.29
VI. Closing balance of cash and
cash equivalents		23,957,849.29	26,187,946.43
Legal Person in charge of Person in charge of
representative:	accounting: accounting department:
Zhang Chong		Ma Yan	Chen Jing

– 27 –

4.2 Audit Report

Applicable ✓ Not applicable

Company name: LUOYANG GLASS COMPANY LIMITED Legal representative: Zhang Chong* Date: 27 April 2018

As at the date of this announcement, the Board comprises four executive Directors: Mr. Zhang Chong, Mr. Ni Zhisen, Mr. Wang Guoqiang and Mr. Ma Yan; one non-executive Director: Mr. Xie Jun; and four independent non-executive Directors: Mr. Jin Zhanping, Mr. Liu Tianni, Mr. Ye Shuhua and Mr. He Baofeng.

• For identification purposes only

– 28 –