RoboSense Technology Co., Ltd — Interim / Quarterly Report 2021

Apr 29, 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.

This announcement appears for information purposes only and does not constitute an invitation or offer to acquire, purchase or subscribe for any securities of the Company.

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FIRST QUARTERLY REPORT 2021

I. IMPORTANT NOTICE

• 1.1 The board of directors, the supervisory committee, 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.

– 1 –

II. BASIC INFORMATION OF THE COMPANY

2.1 Major Financial Data

Unit: yuan Currency: RMB

			Increase/decrease
			at the end of the
			reporting period as
			compared with the
	At the end of the	At the end of	end of the previous
	reporting period	the previous year	year
			(%)
Total assets	5,880,536,551.76	5,604,575,811.17	4.92
Net assets attributable to shareholders of the
Company	1,767,288,632.68	1,626,578,221.81	8.65
		From beginning of
	From beginning	the previous year
	of the year to	to the end of the
	the end of the	reporting period of	Year-on-year
	reporting period	the previous year	increase/decrease
			(%)
Net cash flows from operating activities	37,336,075.86	-37,488,584.74	199.59
		From beginning of
	From beginning	the previous year
	of the year to	to the end of the
	the end of the	reporting period of	Year-on-year
	reporting period	the previous year	increase/decrease
			(%)
Operating income	794,337,982.90	403,689,173.77	96.77
Net profit attributable to shareholders of the
Company	140,710,410.87	3,073,119.02	4,478.75
Net profit attributable to shareholders of the
Company after deducting extraordinary
profit or loss	136,026,866.05	187,441.61	72,470.26
Weighted average return on net assets (%)			Increased by 8.05
	8.29	0.24	percentage points
Basic earnings per share (RMB/share)	0.2565	0.0056	4,480.36
Diluted earnings per share (RMB/share)	0.2565	0.0056	4,480.36

– 2 –

Extraordinary Items and Amounts

Unit: yuan Currency: RMB

Items Gain or loss from disposal of non-current assets 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 Custody fee income from entrusted operation 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 -147,827.66 5,932,246.80 283,018.89 34,855.57 -41,904.15 -1,376,844.63 4,683,544.82	Explanation

– 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 41,471 shareholders (including 41,433 holders of A shares and 38 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
	the reporting	Shareholding	to trading	Status of
Name of shareholders (full name)	period	percentage	moratorium	shares		Number	Nature of shareholder
		(%)
HKSCC NOMINEES LIMITED	249,018,699	45.40	0	Unknown			Overseas legal person
China Luoyang Float Glass (Group)	111,195,912	20.27	6,177,670	Pledged		55,597,956	State-owned legal person
Company Limited
(CNBM) Bengbu Design & Research	70,290,049	12.81	1,290,049	Nil			State-owned legal person
Institute for Glass Industry
Co., Ltd.
Triumph Science & Technology	6,170,699	1.12	6,170,699	Nil			State-owned legal person
Co., Ltd.
Anhui Huaguang Photoelectricity	3,477,327	0.63	3,477,327	Nil			State-owned legal person
Materials Technology Group Co.,
Ltd.
Hefei Gaoxin Development and	1,853,300	0.34	0	Nil			State-owned legal person
Investment Group Company*
Yixing Environmental Technology	1,542,674	0.28	1,542,674	Nil			State-owned legal person
Innovation Venture Investment Co.,
Ltd.*
Wang Hejun (王賀軍)	1,513,400	0.28	0	Unknown			Domestic natural person
Qinhuangdao Hongxing Iron & Steel	1,356,400	0.25	0	Unknown			Domestic non-state-
Co., Ltd. (秦皇島宏興鋼鐵							owned legal person
有限公司)
Hong Kong Securities Clearing	1,310,368	0.24	0	Unknown			Overseas legal person
Company Limited

– 4 –

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

Name of shareholders

HKSCC NOMINEES LIMITED

China Luoyang Float Glass (Group) Company Limited

(CNBM) Bengbu Design & Research Institute for Glass Industry Co., Ltd.

Hefei Gaoxin Development and Investment Group Company* Wang Hejun ( 王賀軍 )

Qinhuangdao Hongxing Iron & Steel Co., Ltd. ( 秦皇島宏興鋼鐵有限公司 ) Hong Kong Securities Clearing Company Limited

Wang Qingguo ( 王慶國 )

Wang Aijun ( 王愛軍 )

Peng Shunying ( 彭順英 )

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

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

Number of circulating
shares held not subject	Class and number of shares
to trading moratorium	Class	Number
249,018,699	Overseas listed foreign	249,018,699
	shares
105,018,242	Ordinary shares	105,018,242
	denominated in RMB
69,000,000	Ordinary shares	69,000,000
	denominated in RMB
1,853,300	Ordinary shares	1,853,300
	denominated in RMB
1,513,400	Ordinary shares	1,513,400
	denominated in RMB
1,356,400	Ordinary shares	1,356,400
	denominated in RMB
1,310,368	Ordinary shares	1,310,368
	denominated in RMB
686,700	Ordinary shares	686,700
	denominated in RMB
648,900	Ordinary shares	648,900
	denominated in RMB
569,600	Ordinary shares	569,600
	denominated in RMB

Among the top 10 shareholders of the Company, China Luoyang Float Glass (Group) Company Limited, (CNBM) Bengbu Design & Research Institute for Glass Industry Co., Ltd., Anhui Huaguang Photoelectricity Materials Technology Group Co., Ltd., and Triumph Science & Technology 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.

None

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

Analysis of changes in relevant items in the income statement and cash flow statement

Unit: RMB

		Amount for
	Amount for	the same
Item	current period	period last year	Change	Analysis of reasons for the change
			(%)
Operating revenue	794,337,982.90	403,689,173.77	96.77	The increase in revenue due to a year-on-
				year increase in production and sales
				volume during the reporting period
Operating costs	459,395,380.14	294,868,490.39	55.80	The increase in costs due to a year-on-
				year increase in production and sales
				volume during the reporting period
Taxes and surcharges	11,264,693.39	6,016,610.28	87.23	The increase in value-added taxes and
				relevant additional taxes due to a year-
				on-year increase in revenue during the
				reporting period
Selling expenses	20,596,189.80	14,916,634.56	38.08	The increase in freight charge due to a
				year-on-year increase in sales during
				the reporting period
Administrative expenses	36,585,066.15	27,320,974.10	33.91	The year-on-year increase in the payment
				of employee compensation and others
				during the reporting period
Research and	54,911,438.15	15,134,144.68	262.83	The year-on-year increase in input in
development expenses				research and development during the
				reporting period
Other income	6,862,954.49	3,097,753.62	121.55	The year-on-year increase in government
				grants included in profit and loss
				during the reporting period

– 6 –

		Amount for
	Amount for	the same
Item	current period	period last year	Change	Analysis of reasons for the change
			(%)
Investment income	-5,605,564.38	-716,518.73	682.33	The year-on-year increase in loss from
				de-recognition of accounts receivable
				financing during the reporting period
Income tax expenses	31,576,425.79	6,492,071.94	386.38	The year-on-year increase in taxable
				profits during the reporting period
Net cash flow from	37,336,075.86	-37,488,584.74	199.59	The year-on-year increase in cash
operating activities				received from sales of goods during the
				reporting period
Net cash flow from	-3,460,623.13	-11,412,280.82	69.68	The year-on-year decrease in cash
investment activities				expenditure invested in the fixed assets
				during the reporting period
Net cash flow from	295,823,995.99	134,008,524.74	120.75	The year-on-year increase in net amount
financing activities				of financing during the reporting
				period

– 7 –

Analysis of changes in relevant items of balance sheet

Unit: RMB

		Amount at
	Amount at the	the beginning
Item	end of the period	of the period	Change	Analysis of reasons for the change
			(%)
Bank balance and cash	631,656,328.29	300,948,343.56	109.89	The increase in financing during the
				reporting period
Notes receivable		102,441,393.68	-100.00	The decrease in settlement of commercial
				acceptance bills during the reporting
				period
Inventories	426,931,955.04	257,598,620.68	65.74	The increase in inventories during the
				reporting period
Construction in progress	121,044,683.11	54,472,785.67	122.21	The increase in input in engineering
				projects during the reporting period
Development	18,411,007.29	14,096,615.36	30.61	The increase input in capitalization of
expenditures				R&D during the reporting period
Other non-current assets	53,185,066.68	33,523,206.41	58.65	The increase in prepayments for projects
				during the reporting period
Contract liabilities	62,520,941.80	38,214,732.27	63.60	The increase in trade accounts collected
				in advance during the reporting period
Employee compensation	23,671,813.79	38,978,819.73	-39.27	Payment of employee compensation
payable				accrued at the end of the previous year
				during the reporting period
Taxes payable	74,344,446.14	116,355,071.70	-36.11	Payment of taxes accrued at the end of
				the previous year during the reporting
				period

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

Applicable ✓ Not applicable

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 2021

Prepared by: Luoyang Glass Company Limited*

Unit: yuan Currency: RMB Type of audit: unaudited

Item Current assets: Bank balance and cash Notes receivable Accounts receivable Accounts receivable financing Prepayments Other receivables Inventories Other current assets Total current assets Non-current assets: Long-term receivables Fixed assets Construction in progress Right-of-use assets Intangible assets Development expenditures Long-term deferred expenses Deferred income tax assets Other non-current assets Total non-current assets Total assets	31 March 2021 631,656,328.29 461,059,317.60 466,689,384.37 135,702,755.04 13,600,232.73 426,931,955.04 67,289,193.24 2,202,929,166.31 55,000,000.00 3,016,461,560.16 121,044,683.11 11,623,342.72 389,514,452.03 18,411,007.29 1,908,794.18 10,458,479.28 53,185,066.68 3,677,607,385.45 5,880,536,551.76	31 December 2020 300,948,343.56 102,441,393.68 637,911,162.29 448,697,313.21 142,259,523.11 17,023,855.78 257,598,620.68 55,139,885.94
		1,962,020,098.25
		55,000,000.00 3,068,216,734.33 54,472,785.67 12,259,657.09 392,925,010.51 14,096,615.36 1,595,431.43 10,466,272.12 33,523,206.41
		3,642,555,712.92
		5,604,575,811.17

– 9 –

31 March 2021 31 December 2020

Item

Current liabilities: Short-term borrowings Notes payable Accounts payable Contract liabilities Employee compensation payable Taxes payable Other payables Non-current liabilities due within one year Other current liabilities Total current liabilities Non-current liabilities: Long-term borrowings Lease liabilities Deferred income Total non-current liabilities Total Liabilities	1,391,176,021.01 428,312,579.20 367,253,448.87 62,520,941.80 23,671,813.79 74,344,446.14 755,730,468.77 110,955,114.00 7,279,287.69 3,221,244,121.27 594,063,924.00 9,343,583.61 104,050,426.95 707,457,934.56 3,928,702,055.83	1,177,314,071.56 465,733,722.37 428,756,037.46 38,214,732.27 38,978,819.73 116,355,071.70 764,011,526.81 137,330,815.42 4,888,222.00
		3,171,583,019.32
		524,063,924.00 9,238,598.97 104,408,642.44
		637,711,165.41
		3,809,294,184.73

– 10 –

31 March 2021 31 December 2020

Item

Owners’ equity (or shareholders’ equity): Paid-in capital (or share capital) 548,540,432.00 548,540,432.00 Capital reserve 1,982,394,841.30 1,982,394,841.30 Surplus reserve 51,365,509.04 51,365,509.04 Undistributed profit -815,012,149.66 -955,722,560.53 Total owners’ equity attributable to owners of the Company (or shareholders’ equity) 1,767,288,632.68 1,626,578,221.81 Minority interests 184,545,863.25 168,703,404.63 Total owners’ equity (or shareholders’ equity) 1,951,834,495.93 1,795,281,626.44 Total liabilities and owners’ equity (or shareholders’ equity) 5,880,536,551.76 5,604,575,811.17 Person-in-charge of the Person-in-charge of Person-in-charge of Company: accounting: accounting institution: Zhang Chong Ma Yan Chen Jing

– 11 –

Balance Sheet of the Company 31 March 2021

Prepared by: Luoyang Glass Company Limited*

Unit: yuan Currency: RMB Type of audit: unaudited

Item Current assets: Bank balance and cash Notes receivable Accounts receivable Accounts receivable financing Prepayments Other receivables Inventories Other current assets Total current assets Non-current assets: Long-term receivables Long-term equity investment Fixed assets Intangible assets Total non-current assets Total assets	31 March 2021 282,407,299.05 25,000,000.00 157,892,036.51 12,971,449.46 38,083.87 503,302,067.54 533,083.94 1,512,947.80 983,656,968.17 55,000,000.00 1,886,146,638.35 2,111,150.58 5,455,165.87 1,948,712,954.80 2,932,369,922.97	31 December 2020 125,309,146.98 25,000,000.00 172,104,965.11 11,328,409.13 23,779.73 489,264,423.62 3,100,908.52
		826,131,633.09
		55,000,000.00 1,886,146,638.35 2,174,833.48 5,511,212.08 1,948,832,683.91
		2,774,964,317.00

– 12 –

Item 31 March 2021 31 December 2020

Current liabilities: Short-term borrowings Notes payable Accounts payable Contract liabilities Employee compensation payable Taxes payable Other payables Non-current liabilities due within one year Other current liabilities Total current liabilities Non-current liabilities: Long-term borrowings Total non-current liabilities Total Liabilities	504,485,573.07 44,359,421.12 35,323,168.02 35,608,104.75 4,642,136.14 182,275.18 846,255,508.98 32,421,609.15 4,629,053.62 1,507,906,850.03 238,000,000.00 238,000,000.00 1,745,906,850.03	394,007,666.58 45,877,926.40 49,075,335.55 12,260,748.25 8,074,804.47 2,253,865.09 791,861,472.98 42,422,967.95 1,593,897.27
		1,347,428,684.54
		228,000,000.00 228,000,000.00
		1,575,428,684.54

– 13 –

31 March 2021 31 December 2020

Item

Owners’ equity (or shareholders’	Owners’ equity (or shareholders’
equity):
Paid-in capital (or share capital)			548,540,432.00		548,540,432.00
Capital reserve			1,961,847,553.30		1,961,847,553.30
Surplus reserve			51,365,509.04		51,365,509.04
Undistributed profit			-1,375,290,421.40		-1,362,217,861.88
Total owners’ equity (or
shareholders’ equity)			1,186,463,072.94		1,199,535,632.46
Total liabilities and owners’	equity
(or shareholders’ equity)			2,932,369,922.97		2,774,964,317.00
Person-in-charge of the	Person-in-charge of Person-in-charge of
Company:	accounting: accounting institution:
Zhang Chong	Ma		Yan		Chen Jing

– 14 –

Consolidated Income Statement January–March 2021

Prepared by: Luoyang Glass Company Limited*

Unit: yuan Currency: RMB Type of audit: unaudited

Item			First quarter of 2021	First quarter of 2020
I.	Total operating revenue		794,337,982.90	403,689,173.77
	Including:	Operating revenue	794,337,982.90	403,689,173.77
II.	Total operating costs		609,227,817.96	386,956,237.69
	Including:	Operating costs	459,395,380.14	294,868,490.39
		Taxes and surcharges	11,264,693.39	6,016,610.28
		Selling expenses	20,596,189.80	14,916,634.56
		Administrative expenses	36,585,066.15	27,320,974.10
		R&D expenses	54,911,438.15	15,134,144.68
		Finance expenses	26,475,050.33	28,699,383.68
	Including:	Interest expenses	27,147,204.13	26,203,153.54
		Interest income	713,052.48	605,212.06
	Add:	Other income	6,862,954.49	3,097,753.62
		Investment income (losses
		are represented by “-”)	-5,605,564.38	-716,518.73
		Impairment losses on credit
		(losses are represented by
		“-”)	1,909,067.89	182,448.13
		Impairment losses on assets
		(losses are represented by
		“-”)		127,887.48
		Gains on disposal of assets
		(losses are represented by
		“-”)	38,275.82	12,438.78
III.	Op erating	profit (loss is represented
	by “-”)		188,314,898.76	19,436,945.36
	Add: Non-operating income		500.00
	Less: Non-operating expense		186,103.48	5,000.00
IV.	To tal profit (total loss is represented
	by “-”)		188,129,295.28	19,431,945.36
	Less: Income tax expenses		31,576,425.79	6,492,071.94

– 15 –

First quarter of 2021 First quarter of 2020

Item

V.	Ne t profit (net loss is represented	Ne t profit (net loss is represented
	by “-”)			156,552,869.49		12,939,873.42
	(I) Cl assified on a going concern
		basis
		1. Ne t profit from continuing
		operation (Net loss is
		represented by “-”)		156,552,869.49		12,939,873.42
		2. Ne t profit from discontinued
		operation (Net loss is
		represented by “-”)
	(II) Classified by ownership
		1. Ne t profit attributable to
		the shareholders of the
		Company (Net loss is
		represented by “-”)		140,710,410.87		3,073,119.02
		2. Pr ofit or loss attributable	to
		minority interests (Net loss
		is represented by “-”)		15,842,458.62		9,866,754.40
VI.	Ot her comprehensive income, net of
	tax
	(I)	Ot her comprehensive income net of
		tax attributable to owners of the
		Company
	(II) Ot her comprehensive income net
		of tax attributable to minority
		interests
VII.	Total comprehensive income			156,552,869.49		12,939,873.42
	(I)	To tal comprehensive income
		attributable to owners of the
		Company		140,710,410.87		3,073,119.02
	(II) To tal comprehensive income
		attributable to minority interests		15,842,458.62		9,866,754.40
VIII. Earnings per share:
	(I) Ba sic earnings per share
		(RMB/share)			0.2565	0.0056
	(II) Di luted earnings per share
		(RMB/share)			0.2565	0.0056
Person-in-charge of the Person-in-charge of					Person-in-charge of
		Company: accounting:			accounting institution:
	Zhang Chong		Ma Yan			Chen Jing

– 16 –

Income Statement of the Company January–March 2021

Prepared by: Luoyang Glass Company Limited*

Unit: yuan Currency: RMB Type of audit: unaudited

Item		First quarter of 2021	First quarter of 2020
I.	Operating revenue	128,656,619.07	67,845,878.75
	Less: Operating costs	127,585,550.95	67,385,669.84
	Taxes and surcharges	1,479.25	15,849.08
	Selling expenses	157,742.58	128,771.59
	Administrative expenses	4,157,947.52	3,302,271.85
	Finance expenses	9,832,687.52	10,402,230.75
	Including: Interest expenses	15,887,953.20	11,619,173.36
	Interest income	6,112,747.26	3,138,398.23
	Add: Other income	6,229.23
II.	Op erating profit (loss is represented
	by “-”)	-13,072,559.52	-13,388,914.36
	Add: Non-operating income
	Less: Non-operating expenses
III.	To tal profit (total loss is represented
	by “-”)	-13,072,559.52	-13,388,914.36
	Less: Income tax expenses
IV.	Ne t profit (net loss is represented
	by “-”)	-13,072,559.52	-13,388,914.36
	(I) Ne t profit from continuing
	operation (Net loss is represented
	by “-”)	-13,072,559.52	-13,388,914.36
	(II) Ne t profit from discontinued
	operation (Net loss is represented
	by “-”)

– 17 –

First quarter of 2021

First quarter of 2020

Item

V. Ot her comprehensive income, net of tax

• (I) Ot her comprehensive income that can not be reclassified to profit and loss

• (II) Ot her comprehensive income that will be reclassified to profit and loss

VI. Total comprehensive income

-13,072,559.52 -13,388,914.36

VII. Earnings per share:

• (I) Ba sic earnings per share (RMB/share)

• (II) Di luted earnings per share (RMB/share)

Person-in-charge of the Person-in-charge of Person-in-charge of Company: accounting: accounting institution: Zhang Chong Ma Yan Chen Jing

– 18 –

Consolidated Cash Flow Statement

January–March 2021

Prepared by: Luoyang Glass Company Limited*

Unit: yuan Currency: RMB Type of audit: unaudited

Item		First quarter of 2021	First quarter of 2020
I.	Cash flow from operating activities:
	Cash received from sales of goods or
	rendering of services	591,942,252.78	300,640,589.29
	Tax refunds received	451,398.46	2,322,827.68
	Cash received from other operating-
	related activities	14,208,559.29	13,762,244.26
	Sub-total of cash inflow from operating
	activities	606,602,210.53	316,725,661.23
	Cash paid for goods purchased and
	services received	327,476,513.60	235,004,632.07
	Cash paid to and on behalf of employees	94,732,419.45	62,937,186.44
	Tax payments	100,987,720.39	36,035,443.44
	Cash paid for other operating-related
	activities	46,069,481.23	20,236,984.02
	Sub-total of cash outflow from operating
	activities	569,266,134.67	354,214,245.97
	Net cash flow from operating activities	37,336,075.86	-37,488,584.74
II.	Cash flow from investment activities:
	Cash received from other investment-
	related activities		6,761,595.39
	Sub-total of cash inflow from investment
	activities		6,761,595.39
	Cash paid for purchase and construction
	of fixed assets, intangible assets and
	other long-term assets	3,459,553.82	18,173,876.21
	Cash paid for other investment-related
	activities	1,069.31
	Sub-total of cash outflow from
	investment activities	3,460,623.13	18,173,876.21
	Net cash flow from investment activities	-3,460,623.13	-11,412,280.82

– 19 –

Item			First quarter of 2021	First quarter of 2020
III.	Cash flow from financing activities:
	Proceeds from loans		654,990,000.00	560,490,000.00
	Cash received from other financing-
	related activities		62,380,848.10	212,500,000.00
	Sub-total of cash inflow from financing
	activities		717,370,848.10	772,990,000.00
	Cash paid for repayment of loans		397,450,000.00	485,602,733.76
	Cash paid for dividends, profit, or
	interest payments		20,015,813.63	23,486,119.97
	Cash paid for other financing-related
	activities		4,081,038.48	129,892,621.53
	Sub-total of cash outflow from financing
	activities		421,546,852.11	638,981,475.26
	Net cash flow from financing activities		295,823,995.99	134,008,524.74
IV.	Ef fects of changes in exchange rate on
	cash and cash equivalents		229,491.67	-59,970.27
V.	Ne t increase in cash and cash
	equivalents		329,928,940.39	85,047,688.91
	Add: Op ening balance of cash and	cash
	equivalents		139,231,301.82	148,188,549.43
VI.	Cl osing balance of cash and cash
	equivalents		469,160,242.21	233,236,238.34
Person-in-charge of the Person-in-charge of Person-in-charge of
	Company:	accounting: accounting institution:
	Zhang Chong	Ma	Yan	Chen Jing

– 20 –

Cash Flow Statement of the Company January–March 2021

Prepared by: Luoyang Glass Company Limited*

Unit: yuan Currency: RMB Type of audit: unaudited

Item		First quarter of 2021	First quarter of 2020
I.	Cash flow from operating activities:
	Cash received from sales of goods or
	rendering of services	60,953,569.45	31,692,845.37
	Cash received from other operating-
	related activities	518,970.60	625,719.64
	Sub-total of cash inflow from operating
	activities	61,472,540.05	32,318,565.01
	Cash paid for goods purchased and
	services received	58,439,151.67	22,348,064.06
	Cash paid to and on behalf of employees	6,429,171.82	4,315,611.90
	Tax payments	2,068,942.37	512,192.21
	Cash paid for other operating-related
	activities	3,562,498.23	1,874,891.56
	Sub-total of cash outflow from operating
	activities	70,499,764.09	29,050,759.73
	Net cash flow from operating activities	-9,027,224.04	3,267,805.28
II.	Cash flow from investment activities:
	Cash received from disposal of
	investments
	Cash received from returns on
	investments
	Cash received from other investment-
	related activities
	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
	Cash paid for other investment-related
	activities
	Sub-total of cash outflow from
	investment activities
	Net cash flow from investment activities

– 21 –

Item First quarter of 2021 First quarter of 2020

III.	Cash flow from financing activities:	Cash flow from financing activities:
	Proceeds from loans		388,990,000.00	218,490,000.00
	Cash received from other financing-
	related activities		764,707,944.99	700,140,000.00
	Sub-total of cash inflow from financing
	activities		1,153,697,944.99	918,630,000.00
	Cash paid for repayment of loans		278,490,000.00	199,098,289.32
	Cash paid for dividends, profit, or
	interest payments		7,212,568.88	6,812,255.31
	Cash paid for other financing-related
	activities		700,951,038.48	684,212,621.53
	Sub-total of cash outflow from financing
	activities		986,653,607.36	890,123,166.16
	Net cash flow from financing activities		167,044,337.63	28,506,833.84
IV.	Ef fects of changes in exchange rate on
	cash and cash equivalents			130.98
V.	Ne t increase in cash and
	cash equivalents		158,017,113.59	31,774,770.10
	Add: Op ening balance of cash and cash
	equivalents		81,846,146.98	46,467,911.64
VI.	Cl osing balance of cash and cash
	equivalents		239,863,260.57	78,242,681.74
Person-in-charge of the Person-in-charge of Person-in-charge of
	Company:	accounting: accounting institution:
	Zhang Chong	Ma	Yan	Chen Jing

4.2 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 lease standard since 2021

Applicable ✓ Not applicable

• 4.3 Retrospective adjustment of the previous comparative data by initial adoption of new lease standard since 2021

Applicable ✓ Not applicable

– 22 –

4.4 Audit Report

Applicable

✓ Not applicable

By order of the Board Luoyang Glass Company Limited* Zhang Chong Chairman

Luoyang, the PRC 29 April 2021

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

– 23 –