CGN Power : INSIDE INFORMATION/ THIRD QUARTERLY REPORT OF 2019/ RESUMPTION OF TRADING

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.

CGN Power Co., Ltd.*

中國廣核電力股份有限公司

(A joint stock company incorporated in the People's Republic of China with limited liability)

(Stock Code：1816)

INSIDE INFORMATION

THIRD QUARTERLY REPORT OF 2019

RESUMPTION OF TRADING

This announcement is made by CGN Power Power Co., Ltd.* (the "Company", together with its subsidiaries, collectively, the "Group") pursuant to Rule 13.09 and Rule 13.10B of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the "Stock Exchange") and the Inside Information Provisions under Part XIVA of the Securities and Futures Ordinance (Chapter 571 of The Laws of Hong Kong).

RESUMPTION OF TRADING

At the request of the Company, trading in the shares of the Company on the Stock Exchange was halted from 9:21 a.m. on October 31, 2019 pending the release of this announcement. An application has been made to the Stock Exchange for resumption of trading in the shares of the Company on the Stock Exchange with effect from 9:00 a.m. on November 1, 2019.

By Order of the Board

CGN Power Co., Ltd.*

Zhang Shanming

Chairman

The PRC, October 31, 2019

As of the date of this announcement, the Board comprises Mr. Gao Ligang as executive Director; Mr. Zhang Shanming, Mr. Tan Jiansheng, Mr. Shi Bing, Ms. Zhong Huiling and Mr. Zhang Yong,

1

as non-executive Directors; Mr. Na Xizhi, Mr. Hu Yiguang and Mr. Francis Siu Wai Keung, as independent non-executive Directors.

* For identification purpose only

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CGN Power Co., Ltd* 2019 Third Quarterly Report

CGN Power Co., Ltd.*

2019 Third Quarterly Report

October 2019

1

CGN Power Co., Ltd* 2019 Third Quarterly Report

1. IMPORTANT NOTICE

The board of directors, the supervisory committee and directors, supervisors and senior management of the Company warrant the truthfulness, accuracy and completeness of the contents in this quarterly report, and warrant that there are no false representations, misleading statements, or material omissions of information in the report, and they jointly and severally accept responsibility for the report.

All directors have attended the board meeting to review this quarterly report.

Mr. Zhang Shanming, the legal representative of the Company, Mr. Yin Engang, the person-in-charge of accounting affairs and Ms. Cheng Chao, the person-in-charge of accounting department (the head of accounting department) hereby declare and warrant the truthfulness, accuracy and completeness of the financial statements in this quarterly report.

		Definitions
Terms	Means	Definitions
"Our Company", the	means	CGN Power Co., Ltd* (中國廣核電力股份有限公
"Company", "CGN Power",
	司)
"we"
"Group"	means	CGN Power Co., Ltd* and its subsidiaries
	means	Yangjing Nuclear Power Co., Ltd* (陽江核電有限公
"Yangjiang Nuclear"		司 ), being a subsidiary which is directly and
	indirectly owned as to 61.20% by the Company
	means	Taishan Nuclear Power Joint Venture Co., Ltd* (台山
"Taishan Nuclear"		核電合營有限公司), being a subsidiary directly and
	indirectly owned as to 51% by the Company
	means	China Nuclear Power Engineering Co., Ltd* (中廣核
"CGN Engineering"		工程有限公司), being a wholly-owned subsidiary of
	the Company

2

CGN Power Co., Ltd* 2019 Third Quarterly Report

1. COMPANY OVERVIEW

1. Major Accounting Data and Financial Indicators

Does the Company requires retrospective adjustment or restatement of the financial data for previous years?

√ Yes □No

Reasons for retrospective adjustment or restatement

Correction of accounting error; other reasons

	At the end of this reporting period			At the end of previous year		Changes between the end of this
									reporting period and the end of
									previous year
				Before the adjustment	After the adjustment	After the adjustment
Total assets (RMB)		396,273,433,077.62		368,555,670,360.28		368,555,670,360.28		7.52%
Net asset attributable to		88,768,180,698.15		71,114,915,512.70		71,114,915,512.70		24.82%
the shareholders of the
listed Company (RMB)
	This reporting period		Previous corresponding period		Changes	From the	Previous corresponding period	From the
						between this	beginning of			beginning of
						reporting	the year to			the year to
						period and	the end of			the end of
						previous	this			this
						corresponding	reporting			reporting
						period	period			period
										compared
										with the
										previous
										correspondin
										g period
			Before the	After the		After the		Before the	After the	After the
			adjustment	adjustment		adjustment		adjustment	adjustment	adjustment
Operating revenue	16,616,070,641.67		14,046,651,383	13,364,184,840.12		24.33%	43,138,752,0	37,057,055,661.50	36,374,589,117.77	18.60%
(RMB)			.85				57.62
Net profitattributable to	3,275,748,380.33		3,139,540,107.	2,213,302,579.00		48.00%	8,298,333,28	7,456,881,528.69	6,779,659,559.23	22.40%
shareholders of the			23				5.16
listed Company (RMB)
Net profit attributable to	3,203,601,005.48		3,109,303,451.	2,183,065,923.73		46.75%	8,017,696,07	7,398,522,244.21	6,721,300,274.75	19.29%
the shareholders of the			96				3.88
listed Company

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CGN Power Co., Ltd* 2019 Third Quarterly Report

(excluding the
non-recurring gains or
losses) (RMB)
Net cash flows from	9,737,721,130.84	8,718,717,132.	8,936,745,832.41	8.96%	24,557,715,3	22,824,425,114.12	23,144,425,114.12	6.11%
operating activities		41			63.69
(RMB)
Basic earnings per share	0.0695	0.0691	0.0487	42.71%	0.1804	0.1641	0.1492	20.91%
(RMB per share)
Diluted earnings per	0.0695	0.0691	0.0487	42.71%	0.1804	0.1641	0.1492	20.91%
share (RMB per share)
Weighted average return	4.16%	4.59%	3.25%	27.75%	11.07%	10.96%	10.26%	7.92%
on equity

Reasons for changes in accounting policies and correction of accounting errors

In 2018, based on the practical experience, the Group continued to refine and improve the management on receivables, and revised the method of making bad debt provision for receivables in accordance with the relevant requirements under the China Accounting Standards for Business Enterprises from a more cautious perspective with reference to the practices of A shares listed companies in the same industry while adopting the retrospective restatement method.

Other reasons for retrospective adjustment or restatement

The general contract of the Hongyanhe Phase I project was settled in the fourth quarter of 2018. During the A shares initial public offering vetting process of the Company according to the relevant requirements, this matter was treated as a post-reporting period event in the audited financials as at September 30, 2018.

Non-recurring Gains or Losses Items and the related amount √Applicable □Not applicable

			Unit: RMB
		Amounts from the
Item		beginning of the year	Remarks
	to the end of this
		reporting period
			Primarily due to the
			gains of RMB143
Gains or losses from disposal of non-current			million from the disposal
		of a subsidiary of the
assets (including the write-off part of asset		143,073,493.12
impairment provision)			Company, namely
		Shanghai Engineering
			Science & Technology
			Co., Ltd (上海中廣核工
	4

						CGN Power Co., Ltd* 2019 Third Quarterly Report
							程科技有限公司) by
							CGN Engineering
Government grants recognized in profit or loss		Primarily due to the
for the period (except for those closely related to		government grants from
the Company's business and for fixed or		240,710,515.24	local finance bureau and
quantitative purposes in accordance with national		government funding for
uniform standards)						research projects
Except for the effective hedging transactions
related to the normal operation of the Company,
the investment income arising from holding
financial assets, derivative financial assets, the
gains or losses from changes in fair value arising	-4,853,099.69
from liabilities held for trading and derivative
financial liabilities, as well as the investment
income arising from disposal of financial assets
and	liabilities	held	for	trading	and
available-for-sale financial assets
Receivables which are impaired individually as
well as the reversal of impairment provision for	1,236,300.00
contract assets
Other non-operating income and expenses other	-9,634,564.25
than the items above
Other gains or losses items that meet the		-1,316,174.84
definition of non-recurring gains or losses
Less: income tax effect				46,317,647.20
	Non-controlling interests effect (net of tax)	42,261,611.10
Total					280,637,211.28	--

Reasons should be provided for non-recurringgains and losses items defined by the Company in accordance with the definitions in the "Interpretative Announcement for Information Disclosure of Companies That Offer Securities to the Public No. 1 - Non-recurringGains and Losses" (《公 開發行證券的公司信息披露解釋性公告第1號--非經常性損益》),and for non-recurringgains and losses items to be defined as recurring gains and losses items listed in "Interpretative Announcement for Information Disclosure of Companies That Offer Securities to the Public No.1 - Non-recurringGains and Losses" (《公開發行證券的公司信息披露解釋性公告第1 號--非經常性損益》)

□ Applicable √ Not applicable

During the reporting period, there was no event in which the non-recurring gains and losses items defined in the "Interpretative Announcement for Information Disclosure of Companies That Offer Securities to the Public No.1 - Non-recurring Gains and Losses" (《公開發行證券的 公司信息披露解釋性公告第1號--非經常性損益》) was defined as recurring gains and losses items.

5

CGN Power Co., Ltd* 2019 Third Quarterly Report

2. Total number of shareholders and shareholdings of the top ten shareholders as at the end of the reporting period

1. Number of shareholders of ordinary shares of the Company and shareholders of the preferred shares of the Company whose voting rights have been restored and shareholdings of the top 10 shareholders of the Company

								Unit: share
Shareholders of ordinary shares of	698,255（of which 694,520 are A share	Shareholders of preference shares of
the Company whose voting rights		0
the Company at the end of this	shareholders and 3,735 are H share	have been restored at the end of this
reporting period		shareholder）
			reporting period (if any)
			Shareholdings of the top 10 shareholders
			Percenta			Number of shares held		Pledged or frozen
Name of			ge of	Number of
Nature of shareholders	subject to trading
shareholders	shares	shares held	Status of shares	Number
		restrictions
			held
China General
Nuclear Power
Corporation (中國	State-owned legal person	57.78%	29,176,641,375	29,176,641,375
廣核集團有限公
司)
HKSCC Nominees	Overseas legal person	16.11%	8,134,715,440	0
Limited
Guangdong
Hengjian
Investment Holding	State-owned legal person	6.79%	3,428,512,500	3,428,512,500
Co., Ltd. (廣東恒健
投資控股有限公
司)
China National
Nuclear
Corporation (中國	State-owned legal person	3.33%	1,679,971,125	1,679,971,125
核工業集團有限公
司)
National Council
for Social
Security Fund (社	State-owned legal person	2.01%	1,014,875,000	0
會保障基金理事
會)
China Life
Insurance Company	State-owned legal person	1.33%	670,771,000	0
Limited (中國人壽
保險股份有限公

6

CGN Power Co., Ltd* 2019 Third Quarterly Report

司)
BlackRock, Inc.	Overseas legal person	1.31%	660,115,787		0
Citigroup Inc.	Overseas legal person	1.30%	657,862,872		0
China Construction
Bank Corporation -
Yifangda 3 years
Closed Operation
Strategy Placement
Flexible Allocation
Hybrid Securities	Others	1.10%	555,485,000	555,485,000
Investment Fund
(LOF) (中國建設銀
行股份有限公司－
易方達 3 年封閉運
作戰略配售靈活配
置混合型證券投資
基金)
Industrial and
Commercial Bank
of China Limited -
Southern 3 years
Closed Operation
Strategy Placement
Flexible Allocation
Hybrid Securities	Others	0.84%	424,188,000	424,188,000
Investment Fund
(LOF)(中國工商銀
行股份有限公司－
南方 3 年封閉運作
戰略配售靈活配置
混合型證券投資基
金)
	Shareholdings of the top 10 shareholders whose shares are subject to trading restrictions
Name of shareholders	Number of shares held subject to trading restrictions		Types of shares
	Types of shares	Number
HKSCC NOMINEES LIMITED			8,134,703,440	Overseas listed	8,134,703,440
		foreign shares
National Council for Social Security Fund (社會			1,014,875,000		Overseas	1,014,875,000
保障基金理事會)						listed foreign
						shares
China Life Insurance Company Limited (中國人			670,771,000		Overseas	670,771,000
壽保險股份有限公司)					listed foreign
						shares
BlackRock, Inc.				660,115,787		Overseas	660,115,787
						listed foreign

7

CGN Power Co., Ltd* 2019 Third Quarterly Report

			shares
Citigroup Inc.		657,862,872	Overseas		657,862,872
			listed foreign
			shares
			RMB-denomina
Ye Kai (葉凱)		4,000,000	ted ordinary		4,000,000
			shares
Bank of China Limited - Yifangda Shenzhen 100			RMB-denomina
exchange traded Index Securities Investment Fund
	3,828,500	ted ordinary		3,828,500
(中國銀行股份有限公司－易方達深證 100 交易
		shares
型開放式指數證券投資基金)
			RMB-denomina
Huang Shuqin (黄淑卿)		3,000,000	ted ordinary		3,000,000
			shares
Lin Zhaoxin (林昭昕)		2,826,700	RMB-denomi		2,826,700
			nated
			ordinary
			shares
Liu Zhihuan (劉志煥)		2,570,000	RMB-denomi		2,570,000
			nated
			ordinary
			shares
Description of the connected relationship or	1. Guangdong Hengjian Investment Holding Co., Ltd. (廣東恒健投資控股有限公司) is the
shareholder of the	China General Nuclear Power Corporation	(中國廣核集團有限公司),
concert party relationship of the above
holding 10.00% of	the total shares; 2. The Company	is not	aware whether	there is any
shareholders
connected relationship or concert party relationship among other shareholders
Description of top 10 shareholders which engaged
in margin financing and securities lending business	Not applicable
(if any)

Have any of the top ten holders of ordinary shares of the Company and the top ten holders of ordinary shares of the Company not subject to trading restriction carried out any agreed share repurchase securities during the reporting period?

□ Yes √ No

None of the top ten holders of ordinary shares of the Company and the top ten holders of ordinary shares of the Company not subject to trading restriction carried out any agreed share repurchase during the reporting period.

• 1. Number of holders of preference shares of the Company and the shareholdings of the top ten holders of preference shares of the Company
• Applicable √ Not applicable

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CGN Power Co., Ltd* 2019 Third Quarterly Report

1. SIGNIFICANT EVENTS

1. Circumstances for changes in key accounting items and financial indicators during the reporting period and the reasons thereof

√Applicable □Not applicable

Consolidated statement of financial position

				Unit: RMB
Item	September 30, 2019	December 31, 2018	Change	Analysis of reasons for
			rate	change
Prepayments	7,204,011,680.31	5,128,948,753.87	40.5%	Mainly due to the increase in
				prepayment for the purchase of
				nuclear fuel and the increase in
				prepayment for construction
				projects
Construction in	36,766,526,269.54	74,624,722,113.05	-50.7%	Mainly due to conversion of
progress				construction in progress into
				fixed assets following
				commercial operation of
				Yangjiang Unit 6 and Taishan
				Unit 2
Accounts payable	22,165,139,054.52	15,986,899,682.85	38.6%	Mainly due to the increase in
				construction, installation and
				equipment fees accrued and
				payable to suppliers following
				commercial operation of
				Yangjiang Unit 6 and Taishan
				Unit 2
Contract liabilities	2,460,655,603.95	835,799,748.43	194.4%	Mainly due to the development
				of construction and installation
				business of CGN Engineering,
				with the balance increased in
				accordance with the progress
				of contract settlement
Other current	500,618,161.87	964,545,364.41	-48.1%	Mainly due to the decrease in
liabilities				pending output tax of CGN
				Engineering
Capital reserve	10,692,956,634.57	3,350,519,181.82	219.1%	Mainly due to the increase in
				capital reserve of the Company
				following the initial public
				offering of A shares
Other	916,513,874.86	699,854,140.51	31.0%	Mainly due to exchange
		9

			CGN Power Co., Ltd* 2019 Third Quarterly Report
	comprehensive				differences arising on
	income				translation of financial
					statements denominated in
					foreign currencies

Consolidated statement of profit or loss and other comprehensive income from the beginning of the year to the end of the reporting period

				Unit: RMB
Item	January-September 2019	January-September	Change rate	Analysis of reasons for change
		2018
Other gains	2,161,260,637.32	1,341,982,087.40	61.0%	Mainly due to the increase in
				amounts of value-added tax
				refunds and government grants
				received
Investment income	1,023,197,000.56	708,380,769.64	44.4%	Mainly due to the disposal of
				Shanghai Engineering Science &
				Technology Co., Ltd (上海中廣
				核工程科技有限公司) and
				increase in investment income as
				recognized under the equity
				method
Credit impairment	50,734,348.38	337,259,461.58	-85.0%	Mainly due to the change in
losses				balance of receivables
Income tax	1,740,605,703.44	1,075,704,225.03	61.8%	Increase in income tax expenses
expenses				is mainly due to the gradual
				expiration of the preferential
				policies for income tax
				(three-year full exemption
				followed by three-year half
				exemption) of certain nuclear
				power generating units

Consolidated statement of cash flows from the beginning of the year to the end of the reporting period

				Unit: RMB
Item	January-September 2019	January-September	Change rate	Analysis of reasons for change
		2018
Tax refunds	2,106,333,639.42	1,257,404,516.67	67.5%Mainly due to the increase in
				amount of value-added tax
				refunds received
Cash payments to	5,238,835,391.00	3,987,618,396.28	31.4%Mainly due to salaries and
and on behalf of				benefits paid to employees being
employees				recognized as business activities
				following commercial operation
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CGN Power Co., Ltd* 2019 Third Quarterly Report

			of Yangjiang Units 5 and 6, and
			Taishan Units 1 and 2, resulting
			in an increase over the previous
			corresponding period
Other cash	2,014,788,083.93	1,481,623,784.58	36.0%Mainly due to new units being
payments relating to			put into commercial operation
operating activities			and the increase in cash paid for
			purchase of nuclear fuel
Cash received from	674,924,891.00	182,997,299.38	268.8%Mainly due to increase in
investment income			dividend by associates
Other cash received	1,894,590,537.50	1,399,895,967.81	35.3%Mainly due to increase in the
relating to investing			amount of matured three-month
activities			fixed deposits
Cash paid for	6,429,198,385.30	357,995,925.00	1695.9%Mainly due to increase in
investments			purchase of financial products
Net cash paid for	0.0	232,680,500.00	-100.0%Mainly due to the acquisition of
acquisition of			three companies under common
subsidiaries and			control in the previous year, i.e.
other business			CGN Ocean Power Co., Ltd. (中
entities			廣核海洋能源有限公司), CGN
			Hebei Thermal Power Co., Ltd.
			(中廣核河北熱電有限公司) and
			CGN Power Sales Co., Ltd. (中
			廣核電力銷售有限公司).
Other cash paid	2,079,536,283.50	1,517,449,810.58	37.0%Mainly due to increase in
relating to investing			three-month fixed deposits
activities
Cash receipts from	13,754,894,013.20	3,106,455,899.00	342.8%Mainly due to the funds raised
capital contributions			from the initial public offering of
			A shares of the Company
Other cash received	789,004,579.36	421,902,000.00	87.0%Mainly due to investment funds
relating to financing			received from shareholders for
activities			the construction of
			Fangchenggang Units 3 and 4
			and the consideration received
			for the equity transfer of 17% in
			Yangjiang Nuclear
Cash repayments of	44,194,307,343.80	32,538,142,685.86	35.8%Mainly due to the increase in the
borrowings			amount of repayment of
			borrowings due to new units
			being put into commercial
			operation
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CGN Power Co., Ltd* 2019 Third Quarterly Report

2. Progress of significant events and analysis of their impacts and solutions

√Applicable □Not applicable

1. Yangjiang Unit 6 is qualified for commercial operation
   On July 24, 2019, Yangjiang Unit 6 had completed all commissioning work and was qualified for commercial operation and commenced on-grid power generation statistics. Six planned power generation units of Yangjiang Nuclear had fully been put into operation. Yangjiang Nuclear already obtained the Electric Power Business Permit of Yangjiang Unit 6 in late September.
2. Completion of the A shares offering
   On July 26, 2019, the China Securities Regulatory Commission approved the A shares offering of the Company. After the publication of the Prospectus for Initial Public Offerings (A shares) (《首次公開發行股票（A股）招股說明書》) on August 9, 2019, the Company issued 5,049,861,100 RMB-denominated ordinary shares (A shares) at the issue price of RMB2.49 per share on August 12, 2019, and the proceeds raised amounted to RMB12,574,154,139.00 in total. After deducting the issuance expenses of RMB184,378,579.56 (excluding the value-added tax), the actual net proceeds raised amounted to RMB12,389,775,559.44. The above-mentioned proceeds raised were all received on August 16, 2019. On August 26, 2019, the A shares of the Company were listed and traded, and the A shares offering was completed.
3. Taishan Unit 2 is qualified for commercial operation
   On September 7, 2019, Taishan Unit 2 had completed all commissioning work and was qualified for commercial operation and commenced on-grid power generation statistics. Two ERP nuclear power generation units of Taishan Nuclear had fully been put into operation, the total installed capacity is 2x1,750MW. Taishan Nuclear is in the process of obtaining the Electric Power Business Permit of Taishan Unit 2 in accordance with the relevant requirements.
4. Progress in the use of proceeds raised from issuance of A shares offering
   On August 26, 2019, the Company and its subsidiaries which have resolved to use proceeds from the A shares offering for project investment (the "Use of Proceeds Projects") jointly entered into the "Tripartite Supervision Agreement on the Use of Proceeds"(《募集資金三方監管協議》) with the relevant underwriters and the bank. On September 12, 2019, the board of directors of the Company reviewed and approved the three proposals regarding the use of proceeds to replace those investment projects which have used its own funds, the use of proceeds to provide entrustment loans to those subsidiaries for the Use of Proceeds Projects, and the use of temporary idle funds from the proceeds from the A shares offering to purchase principal-guaranteed wealth

12

CGN Power Co., Ltd* 2019 Third Quarterly Report

management products. The above proposals in the use of proceeds are in compliance with the relevant rules and regulations and have fulfilled the relevant approval process. Such use of proceeds proposals have not affected the usual conduct of the Use of Proceeds Projects, and there are no events which could change or be treated as changing the directions in the use of proceeds or jeopardise the interests of the shareholders of the Company.

On September 16, 2019, the Company utilized the temporary idle funds from the proceeds from the A shares offering to subscribe for principal-guaranteed wealth management products with certain bank in accordance with the amount and duration as approved in the above-mentioned resolution. The Company shall ensure that the normal production, operation and the construction of the Use of Proceeds Projects will be maintained while using the temporary idle funds from the proceeds to subscribe for principal-guaranteed wealth management products. The Company shall adhere to the principles of standard operation, value preservation and risk prevention and ensure that the normal production, operation and the construction of the Use of Proceeds Projects would not be affected. There shall not be any event which could be treated as changing the directions in the use of proceeds or jeopardise the interests of the shareholders of the Company. At the same time, it could also maximize the return on unutilized funds and bring better return on investment for the Company and its shareholders.

Summary of Significant	Date of Disclosure	Search index of interim report
Events	disclosure website
		HKEXnews website
Yangjiang Unit 6 is qualified for	July 24, 2019	(https://www1.hkexnews.hk): Voluntary
commercial operation		Announcement - Yangjiang Unit 6 is
		Qualified for Commercial Operation
		HKEXnews website
	July 26, 2019	(https://www1.hkexnews.hk): CSRC
		Approval of A Share Offering
		Cninfo (www.cninfo.com.cn), Security
		Times, China Securities Journal,
	August 9, 2019	Shanghai Securities News(《證券時報》
	《中國證券報》《上海證券報》《證券
		日報》): Prospectus of initial public
The Company completed initial		offering of RMB-denominated ordinary
public offering of A shares		shares
		Cninfo (www.cninfo.com.cn), Security
		Times, China Securities Journal,
	August 16, 2019	Shanghai Securities News(《證券時報》
	《中國證券報》《上海證券報》《證券
		日報》): Announcement on the results of
		initial public offering of A shares
	August 26, 2019	Cninfo (www.cninfo.com.cn), Security
	Times, China Securities Journal,
	13

CGN Power Co., Ltd* 2019 Third Quarterly Report

		Shanghai Securities News(《證券時報》
		《中國證券報》《上海證券報》《證券
		日報》): Announcement on the risk
		notice at the first day of listing,
		Announcement No: 2019-001
		Cninfo (www.cninfo.com.cn), Security
		Times, China Securities Journal,
Taishan Unit 2 is expected to be		Shanghai Securities News(《證券時報》
	《中國證券報》《上海證券報》《證券
qualified for commercial	September 6, 2019
日報》): Voluntary Announcement -
operation recently
	Taishan Unit 2 is Expected to be
		Qualified for Commercial Operation
		Recently, Announcement No.: 2019-008
		Cninfo (www.cninfo.com.cn), Security
		Times, China Securities Journal,
		Shanghai Securities News(《證券時報》
	August 26, 2019	《中國證券報》《上海證券報》《證券
	日報》): Announcement on the signing
		of the Tripartite Supervision Agreement
		on the Use of Proceeds, Announcement
		No.: 2019-002
		Cninfo (www.cninfo.com.cn), Security
		Times, China Securities Journal,
		Shanghai Securities News(《證券時報》
		《中國證券報》《上海證券報》《證券
		日報》): Announcement on the use of
		proceeds to replace those investment
		projects which have used its own funds,
Progress of the use of proceeds		Announcement No.: 2019-011;
from A shares offering	September 12, 2019	Announcement on the use of proceeds
	to provide entrustment loans to those
		subsidiaries for the Use of Proceeds
		Projects, Announcement No.: 2019-012;
		Announcement on the use of temporary
		idle funds from the proceeds from the A
		shares offering to purchase
		principal-guaranteed wealth
		management products, Announcement
		No.: 2019-013
		Cninfo (www.cninfo.com.cn), Security
		Times, China Securities Journal,
	September 16, 2019	Shanghai Securities News(《證券時報》
	《中國證券報》《上海證券報》《證券
		日報》): Announcement on the progress
		of the use of temporary idle funds from
	14

CGN Power Co., Ltd* 2019 Third Quarterly Report

the proceeds from the A shares offering to purchase principal-guaranteed wealth management products, Announcement No.: 2019-014

Progress of repurchase of shares

□ Applicable √ Not applicable

Progress of implementation of reducing shareholding of repurchased shares through centralized auction

□ Applicable √ Not applicable

3. Outstanding commitments made by relevant parties, such as de facto controllers of the Company, shareholders, related parties, acquirers, and the Company during the reporting period

□Applicable √ Not applicable

During the reporting period, there are no outstanding commitments made by relevant parties, such as de facto controllers of the Company, shareholders, related parties, acquirers, and the Company.

4. Financial assets measured at fair value

√ Applicable □ Not applicable

Unit: RMB

		Gain or loss	Accumulated	Purchase	Sales		Amount at
	Initial	from changes	fair value	amount	Cumulative
Type of	amount for	the end of	Source
investment	in fair value for	changes	for the	gains from
assets	the reporting	the reporting	of funds
cost	the current	included in	reporting	investment
	period	period
		period	equity	period
								Currently
								idle
Others	6,000,000,000.00	0.00	0.00	6,000,000,000.00	0.00	0.00	6,000,000,000.00	proceeds
								from A
								shares
Financial								Internal
derivative	0.00	-2,138,697.63	0.00	0.00	0.00	6,733,669.91	1,006,668.50
instrument								funds
Total	6,000,000,000.00	-2,138,697.63	0.00	6,000,000,000.00	0.00	6,733,669.91	6,001,006,668.50	--

15

CGN Power Co., Ltd* 2019 Third Quarterly Report

5. Information on illegal external guarantees

□Applicable √ Not applicable

During the reporting period, the Company had no illegal external guarantees.

6. Information on the non-operating use of funds of the Company by the controlling shareholder and its related parties

□Applicable √Not applicable

During the reporting period, there was no non-operating use of funds of the Company by the controlling shareholder of the Company and its related parties.

7. Particulars on entrusted wealth management

√Applicable □Not applicable

			Unit: RMB 0'000
	Source of funding	Amount of
Specific type	for entrusted	entrusted	Outstanding	Amount due but
wealth	wealth	balance	not received
	management	management
Bank wealth	Currently idle
management	proceeds from A	600,000	600,000	0
product	shares
Total		600,000	600,000	0

Details of high-risk entrusted wealth management with individually material amounts or a lower level of security or liquidity without guaranteed repayment of principal.

□ Applicable √ Not applicable

Expectation that the entrusted wealth management could not recover the principal or other circumstances that might lead to impairment

□ Applicable √ Not applicable

8. Reception of activities such as survey, communication and interview during the reporting period

√Applicable □Not applicable

16

			CGN Power Co., Ltd* 2019 Third Quarterly Report
	Time of reception	Reception manner	Time of visitors	Index of basic information in the
	investigation
				Progress of company's new project,
	July 3, 2019	On-site investigation	Institutions	profitability of Taishan project,
	progress of initial public offering of
				A shares
	July 9, 2019	On-site investigation	Institutions	Asset injection plan, power market
				situation, plant site reserve,
				progress of A shares initial public
				offering
	July 10, 2019	Telephone	Institutions	Progress of A shares initial public
		Communication		offering, tax rebate and electricity
				price reduction, new unit
				production progress
	August 22, 2019	Telephone	Institutions	Interim performance, approval
		Communication		status of new project, return rate of
				Taishan project
	August 26, 2019	On-site investigation	Others	Jiang Dajin, secretary of the board
				of directors, interviewed by
				CCTV-2 "Trading Hours"(交易時
				間) at the Shenzhen Stock
				Exchange "CGN enters A Shares-
				the largest initial public offering
				project welcomed by Shenzhen
				Stock Exchange"
				http://tv.cctv.com/2019/08/26/VID
				EoiOroDrBfCEgf81QNWms1908
				26.shtml?spm=C22284.PHkq46Hq
				wCaf.S83932.30
	August 26, 2019	On-site investigation	Others	Jiang Dajin, secretary of the board
				of directors, interviewed by China
				Business Network "One boss of
				nuclear power industry enters A
				shares market - the new
				development of CGN."
				https://m.yicai.com/video/1003077
				62.html?from=singlemessage&isa
				ppinstalled=0
				See EasyIR platform of Shenzhen
				Stock Exchange at:
	August 30, 2019	On-site investigation	Institutions	http://irm.cninfo.com.cn/szse/index.
	html
				"003816 CGN Register Of Investor
				Relations Activities Dated
			17

CGN Power Co., Ltd* 2019 Third Quarterly Report

			September 2, 2019"
September 3, 2019	On-site investigation	Institutions	See EasyIR platform of Shenzhen
			Stock Exchange at:
			http://irm.cninfo.com.cn/szse/inde
			x.html
			"003816 CGN Register Of Investor
			Relations Activities Dated
			September 4, 2019"
September 17, 2019	On-site investigation	Institutions	See EasyIR platform of Shenzhen
			Stock Exchange at:
			http://irm.cninfo.com.cn/szse/inde
			x.html
			"003816 CGN Register Of Investor
			Relations Activities Dated
			September 18, 2019"
September 26, 2019	On-site investigation	Institutions	See EasyIR platform of Shenzhen
			Stock Exchange at:
			http://irm.cninfo.com.cn/szse/inde
			x.html
			"003816 CGN Register Of Investor
			Relations Activities Dated
			September 26, 2019"

18

CGN Power Co., Ltd* 2019 Third Quarterly Report

IV. FINANCIAL STATEMENTS

I. FINANCIAL STATEMENTS

1. CONSOLIDATED STATEMENT OF FINANCIAL POSITION Prepared by: CGN Power Co., Ltd.*

September 30, 2019

		Unit: RMB
Item	September 30, 2019	December 31, 2018
Current assets
Cash at bank and in hand	22,879,431,175.57	15,596,386,387.95
Settlement reserve
Placements to banks and other
financial institutions
Financial assets held for	6,000,000,000.00
trading
Financial assets at fair value
through profit or loss
Derivative financial assets		4,753,642.10
Bills receivable	6,353,119.00	18,433,532.76
Accounts receivable	6,572,150,290.78	6,630,947,443.89
Accounts receivable financing
Prepayments	7,204,011,680.31	5,128,948,753.87
Premium receivable
Amounts due from reinsurers
Reinsurance contract reserve
receivable
Other receivables	153,709,745.13	519,127,589.11
Including：Interest receivable
Dividends receivable	94,665,541.70	146,023,234.13
Financial assets purchased
under agreements to resell
Inventories	19,951,972,643.33	21,372,255,356.38
Contract assets	4,082,951,980.62	3,409,787,026.47
Assets classified as
held-for-sale
Non-current assets due within	1,100,819.26	3,659,033.86
one year
Other current assets	2,741,179,466.71	2,703,617,527.46
Total current assets	69,592,860,920.71	55,387,916,293.85
Non-current assets:
Loans receivables
	19

CGN Power Co., Ltd* 2019 Third Quarterly Report

Debt investments
Financial assets
available-for-sale
Other debt investments
Held-to-maturity investments
Long-term receivables
Long-term equity investments	10,925,913,394.19	10,203,023,176.92
Other investment in equity	453,512,600.00	422,689,500.00
instruments
Other non-current financial		812,257.18
assets
Investment properties	190,398,872.05	210,346,041.36
Fixed assets	260,143,733,914.75	210,850,206,582.15
Construction in progress	36,766,526,269.54	74,624,722,113.05
Bearer biological assets
Oil and gas assets
Right-of-use assets	1,005,831,646.26
Intangible assets	4,919,141,526.91	4,719,796,447.25
Development costs	2,233,635,519.42	1,962,455,756.90
Goodwill	419,242,673.32	419,242,673.32
Long-term deferred expenses	1,511,470,368.42	1,734,658,492.05
Deferred tax assets	1,789,032,291.45	1,774,868,398.17
Other non-current assets	6,322,133,080.60	6,244,932,628.08
Total non-current assets	326,680,572,156.91	313,167,754,066.43
Total assets	396,273,433,077.62	368,555,670,360.28
Current liabilities:
Short-term loans	17,499,261,399.32	16,366,742,257.35
Due to central banks
Placements from banks and
other financial institutions
Financial liabilities held for
trading
Financial liabilities at fair
value through profit or loss
Derivative financial liabilities	8,229,929.33	2,724,971.67
Bills payable	1,784,471,261.24	2,260,164,887.24
Accounts payable	22,165,139,054.52	15,986,899,682.85
Receipts in advance		2,058,361.07
Contract liabilities	2,460,655,603.95	835,799,748.43
Financial assets sold under
agreement to repurchase
Customer deposits and
placements from other financial
institutions
	20

CGN Power Co., Ltd* 2019 Third Quarterly Report

Customer brokerage deposits
Securities underwriting
brokerage deposits
Employee benefits payable	88,830,467.80	42,616,433.80
Tax payable	1,534,675,519.05	1,431,294,200.96
Other payables	3,744,150,466.35	3,878,479,167.43
Including：Interests payable
Dividends payable	684,132,867.33	968,903,753.94
Fee and commissions payable
Amounts due to reinsurer
Liabilities classified as
held-for-sale
Non-current liabilities due	22,011,699,268.02	18,853,766,355.93
within one year
Other current liabilities	500,618,161.87	964,545,364.41
Total current liabilities	71,797,731,131.45	60,625,091,431.14
Non-current liabilities:
Reserve of insurance contract
Long-term loans	173,611,298,520.16	179,639,946,139.80
Bonds payable	8,985,888,049.18	8,488,044,399.25
Including: Preference shares
Perpetual bonds
Lease liabilities	676,873,110.97
Long-term payables
Long-term employee benefits	136,466,666.81	102,267,273.40
payable
Provisions	4,711,752,787.49	4,001,531,754.01
Deferred income	1,430,607,136.98	1,395,854,838.75
Deferred tax liabilities	1,210,374,795.45	1,177,284,416.72
Other non-current liabilities
Total non-current liabilities	190,763,261,067.04	194,804,928,821.93
Total liabilities	262,560,992,198.49	255,430,020,253.07
Equity:
Share capital	50,498,611,100.00	45,448,750,000.00
Other equity instruments
Including: Preference shares
Perpetual bonds
Capital reserve	10,692,956,634.57	3,350,519,181.82
Less: Treasury stock
Other comprehensive income	916,513,874.86	699,854,140.51
Specific reserve	215,410,269.02	197,139,693.40
Surplus reserve	3,341,495,665.44	3,341,495,665.44
General provisions
	21

CGN Power Co., Ltd* 2019 Third Quarterly Report

Retained earnings	23,103,193,154.26	18,077,156,831.53
Equity attributable to owners (or	88,768,180,698.15	71,114,915,512.70
shareholders) of the Company
Non-controlling interests	44,944,260,180.98	42,010,734,594.51
Total equity	133,712,440,879.13	113,125,650,107.21
Total equity and liabilities	396,273,433,077.62	368,555,670,360.28

Company's legal representative: Zhang Shanming

Person-in-charge of accounting: Yin Engang

Head of accounting department: Cheng Chao

2. STATEMENT OF FINANCIAL POSITION OF THE PARENT COMPANY

		Unit: RMB
Items	September 30 2019	December 31, 2018
Current assets:
Cash at bank and in hand	17,235,175,852.08	9,741,247,550.24
Financial assets held for trading	6,000,000,000.00
Financial assets at fair value through
profit or loss
Derivative financial assets
Bills receivable
Accounts receivable	696,199,776.19	691,807,188.60
Accounts receivable financing
Prepayments	15,690,267.52	12,051,211.58
Other receivables	2,013,250,239.86	1,234,738,858.24
Including：Interest receivable
Dividends receivable	2,012,648,899.76	1,042,667,333.07
Inventories
Contract assets
Assets classified as held-for-sale
Non-current assets due within one year	600,000,000.00	4,000,000,000.00
Other current assets	4,196,778,791.51	5,904,124,692.57
Total current assets	30,757,094,927.16	21,583,969,501.23
Non-current assets:
Debt investments	10,251,695,025.55	6,088,000,000.00
Financial assets available-for-sale
Other debt investments
Held-to-maturity investments
Long-term receivables
Long-term equity investments	79,527,397,579.94	78,003,718,957.43
Other investment in equity instruments
	22

CGN Power Co., Ltd* 2019 Third Quarterly Report

Other non-current financial assets
Investment properties
Fixed assets	39,634,746.12	37,287,554.98
Construction in progress	78,947,004.54	60,323,650.73
Bearer biological assets
Oil and gas assets
Right-of-use assets	134,681,002.23
Intangible assets	225,452,882.72	240,506,543.32
Development costs	1,082,457,433.89	773,743,861.01
Goodwill
Long-term deferred expenses
Deferred tax assets
Other non-current assets	39,619,064.23	39,060,484.23
Total non-current assets	91,379,884,739.22	85,242,641,051.70
Total assets	122,136,979,666.38	106,826,610,552.93
Current liabilities:
Short-term loans	10,079,795,252.64	9,612,506,721.28
Financial liabilities held for trading
Financial liabilities at fair value through
profit or loss
Derivative financial liabilities
Bills payable
Accounts payable	315,141,421.89	429,277,843.18
Receipts in advance
Contract liabilities	21,338,578.53	4,384,800.02
Employee benefits payable	24,636,653.52	2,544,490.66
Tax payable	2,722,449.30	5,322,716.15
Other payables	51,891,387.39	41,028,621.80
Including：Interests payable
Dividends payable
Liabilities classified as held-for-sale
Non-current liabilities due within one	2,839,355,771.16	165,565,753.43
year
Other current liabilities
Total current liabilities	13,334,881,514.43	10,260,630,946.52
Non-current liabilities:
Long-term loans
Bonds payable	8,985,888,049.18	8,488,044,399.25
Including: Preference shares
Perpetual bonds
Lease liabilities	59,809,911.57
Long-term payables
Long-term employee benefits payable	12,427,230.91	8,355,898.21
	23

CGN Power Co., Ltd* 2019 Third Quarterly Report

Provisions
Deferred income	500,000.00
Deferred tax liabilities
Other non-current liabilities
Total non-current liabilities	9,058,625,191.66	8,496,400,297.46
Total liabilities	22,393,506,706.09	18,757,031,243.98
Equity:
Share capital	50,498,611,100.00	45,448,750,000.00
Other equity instruments
Including: Preference shares
Perpetual bonds
Capital reserve	31,781,624,373.32	24,441,698,121.44
Less: Treasury stock
Other comprehensive income
Specific reserve
Surplus reserve	2,929,804,225.34	2,929,804,225.34
Retained earnings	14,533,433,261.63	15,249,326,962.17
Total equity	99,743,472,960.29	88,069,579,308.95
Total equity and liabilities	122,136,979,666.38	106,826,610,552.93

3. CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME FOR THE REPORTING PERIOD

		Unit: RMB
Items	Amount for current period	Amount for prior period
1. Total revenue	16,616,070,641.67	13,364,184,840.12
Including: Operating revenue	16,616,070,641.67	13,364,184,840.12
Interest income
Premium earned
Fees and commission income
2. Total operating cost	11,606,856,356.38	9,694,409,351.23
Including: Operating cost	8,896,657,150.38	7,261,986,210.81
Interest expenses
Fees and commission expenses
Cash surrender value
Claim settlement expenses, net
Net insurance contract reserves
Policy dividend expense
Reinsurance expenses
Tax surcharge	172,969,779.74	177,583,163.39
Selling expenses	21,819,820.11	21,902,105.93
Administrative expenses	527,586,924.90	495,908,558.15
Research and development expenses	70,968,686.16	191,355,556.31
Finance costs	1,916,853,995.09	1,545,673,756.64
	24

CGN Power Co., Ltd* 2019 Third Quarterly Report

Including: Interest expense	1,965,214,431.18	1,482,361,501.90
Interest income	89,074,412.90	51,893,339.20
Add: Other gains	754,147,430.10	285,989,198.87
Investment income (losses are denoted	383,452,718.93	366,351,723.89
by "-")
Including: Income from investment in	397,698,141.98	375,990,683.27
associates and joint ventures
Gain on derecognition of financial
assets measured at amortized cost
Foreign exchange gain (losses are
denoted by "-")
Net Exposure hedging gains (losses are
denoted by "-")
Gains (losses) from changes in fair value	-2,643,921.84	21,456,663.75
(losses are denoted by "-")
Credit impairment loss (losses are	-2,761,717.04	-2,851,765.96
denoted by "-")
Asset impairment loss (losses are		-111,272,915.85
denoted by "-")
Gain (losses) from disposal of assets		-55,337.99
(losses are denoted by "-")
3. Operating profit (losses are denoted by "-")	6,141,408,795.44	4,229,393,055.60
Add: non-operating income	1,448,735.09	784,452.56
Less: non-operating expenses	8,240,875.69	11,417,607.76
4. Total profit (total losses are denoted by "-")	6,134,616,654.84	4,218,759,900.40
Less: income tax expenses	796,546,292.57	275,627,987.55
5. Net profits (net losses are denoted by "-")	5,338,070,362.27	3,943,131,912.85
(I) Classified by continuity of operations
(1)Net profit from continuing operations (net	5,338,070,362.27	3,943,131,912.85
losses are denoted by "-")
(2) Net profit from discontinued operations
(net losses are denoted by "-")
(II) Classified by ownership
(1). Net profit attributable to shareholders of	3,275,748,380.33	2,213,302,579.00
the parent company
(2). Non-controlling interests	2,062,321,981.94	1,729,829,333.85
6. Other comprehensive income, net of tax	222,593,454.41	289,602,817.26
Other comprehensive income, net of tax,	166,773,590.85	219,299,114.99
attributable to shareholders of the Company
(I) Other comprehensive income that will not	-686,000.00	8,480,080.00
be reclassified to profit or loss
(1) Change arising from	-686,000.00	316,000.00
remeasurement of defined benefit plan
(2) Other comprehensive income that
	25

CGN Power Co., Ltd* 2019 Third Quarterly Report

cannot be transferred to profit or loss under the
equity method
(3) Change in fair value of investment		8,164,080.00
in other equity instruments
(4) Change in fair value of credit risk
of the Company
(5) Others
(II) Other comprehensive income that may be	167,459,590.85	210,819,034.99
reclassified to profit or loss
(1) Other comprehensive income that
can be transferred to profit or loss under the equity		-5,071.84
method
(2) Change in fair value of other debt
investments
(3) Change in fair value of financial
assets available-for-sale
(4) Other comprehensive income due
to reclassification of financial assets
(5) Profit or loss arising from
reclassification of held-to-maturity investments
into available-for-sale financial assets
(6) Impairment loss on other debt
investments
(7) Cash flow hedge
(8) Translation differences arising from
translation of foreign currency financial	167,459,590.85	210,824,106.83
statements
(9) Others
Other comprehensive income, net of tax,	55,819,863.56	70,303,702.27
attributable to non-controlling interests
7. Total comprehensive income	5,560,663,816.68	4,232,734,730.11
Total comprehensive income attributable to	3,442,521,971.18	2,432,601,693.99
shareholders of the parent company
Total comprehensive income attributable to	2,118,141,845.50	1,800,133,036.12
non-controlling interests
8. Earnings per share:
(1) Basic earnings per share	0.0695	0.0487
(2) Diluted earnings per share	0.0695	0.0487

If enterprises under common control are merged in current period, the net profit of merged party before merging is RMB, and the net profit of the merged party of last period is RMB.

Company's legal representative: Zhang Shanming

Person-in-charge of accounting: Yin Engang

Head of accounting department: Cheng Chao

26

CGN Power Co., Ltd* 2019 Third Quarterly Report

4. STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME OF THE PARENT COMPANY FOR THE REPORTING PERIOD

		Unit: RMB
Items	Amount for current period	Amount for prior period
1. Operating revenue	158,051,949.95	119,034,392.27
Less: Operating costs	160,263,297.20	183,080,027.31
Taxes and surcharges		360.00
Selling expenses
Administrative expenses	51,299,415.22	78,483,624.35
Research and development expenses	9,533,196.76	4,004,146.86
Finance costs	60,574,275.90	46,966,143.64
Including: Interest expenses	156,165,686.51	129,658,651.28
Interest income	66,544,662.57	39,831,586.19
Add: Other gains	0.00	1,603,867.53
Investment income (losses are denoted	664,450,160.23	4,441,538,642.06
by "-")
Including: Income from investment in	62,235,313.49	111,015,890.28
associates and joint ventures
Gain on derecognition of financial
assets measured at amortized cost
Net Exposure hedging gains (losses
are denoted by "-")
Gains (losses) from changes in fair	0.02	627,732.82
value (losses are denoted by "-")
Credit impairment loss (losses are	308,055.48	-551,473.70
denoted by " -")
Asset impairment gains (losses)
(losses are denoted by "-")
Gains (losses) from disposal of assets
(losses are denoted by " -")
2. Operating profit (losses are denoted by "-")	541,139,980.60	4,249,718,858.82
Add: non-operating income	2.00	0.20
Less: non-operating expenses		643,550.21
3. Total profit (total losses are denoted by "-")	541,139,982.60	4,249,075,308.81
Less: income tax expenses		-168,604,535.36
4. Net profits (net losses are denoted by "-")	541,139,982.60	4,417,679,844.17
(1) Net profit from continuing operations	541,139,982.60	4,417,679,844.17
(net losses are denoted by "-")
(2) Net profit from discontinued operations
(net losses are denoted by "-")
5. Other comprehensive income, net of tax
(I) Other comprehensive income that will
not be reclassified to profit or loss
	27

CGN Power Co., Ltd* 2019 Third Quarterly Report

(1)	Change arising from
remeasurement of defined benefit plan
(2) Other comprehensive income
that cannot be transferred to profit or loss under
the equity method
(3) Change in fair value of
investment in other equity instruments
(4)	Change in fair value of credit
risk of the Company
(5)	Others
(II) Other comprehensive income that may
be reclassified to profit or loss
(1)	Other comprehensive income
that can be transferred to profit or loss under the
equity method
(2)	Change in fair value of other
debt investments
(3)	Change in fair value of financial
assets available-for-sale
(4)	Other comprehensive income
due to reclassification of financial assets
(5)	Profit or loss arising from
reclassification of held-to-maturity investments
into available-for-sale financial assets
(6)	Impairment loss on other debt
investments
(7)	Cash flow hedge
(8) Translation differences arising
from translation of foreign currency financial
statements
(9)	Others
6. Total comprehensive income	541,139,982.60	4,417,679,844.17
7. Earnings per share:
(1) Basic earnings per share
(2) Diluted earnings per share

5. CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME FROM THE BEGINNING OF THE YEAR TO THE END OF THE REPORTING PERIOD

		Unit: RMB
Item	Amount for current period	Amount for prior period
1. Total revenue	43,138,752,057.62	36,374,589,117.77
	28

CGN Power Co., Ltd* 2019 Third Quarterly Report

Including: Operating revenue	43,138,752,057.62	36,374,589,117.77
Interest income
Premium earned
Fees and commission income
2. Total operating cost	31,854,561,316.75	26,605,105,761.73
Including: Operating cost	23,727,475,312.08	19,856,815,920.27
Interest expenses
Fees and commission expenses
Cash surrender value
Claim settlement expenses, net
Net insurance contract reserves
Policy dividend expense
Reinsurance expenses
Tax surcharge	517,045,108.56	453,817,263.84
Selling expenses	53,558,919.75	66,699,037.96
Administrative expenses	1,725,707,573.58	1,462,446,739.00
Research and development	297,820,989.41	361,636,245.04
expenses
Finance costs	5,532,953,413.37	4,403,690,555.62
Including: Interest expenses	5,550,546,495.28	4,359,158,909.93
Interest income	232,848,901.02	179,401,300.41
Add:Other gains	2,161,260,637.32	1,341,982,087.40
Investment income (losses are	1,023,197,000.56	708,380,769.64
denoted by "-")
Including: Income from	869,567,065.56	718,399,018.24
investment in associates and joint ventures
Gain on derecognition of
financial assets measured at amortized cost
Foreign exchange gain (losses are
denoted by "-")
Net Exposure hedging gains
(losses are denoted by "-")
Gain (losses) from changes in fair	-5,512,782.38	32,074,643.47
value (losses are denoted by "-")
Credit impairment loss (losses are	50,734,348.38	337,259,461.58
denoted by "-")
Asset impairment loss (losses are		-111,272,915.85
denoted by "-")
Gain (losses) from disposal of		-74,361.29
assets (losses are denoted by "-")
3. Operating profit (losses are denoted by	14,513,869,944.75	12,077,833,040.99
"-")
Add: non-operating income	6,974,753.66	4,190,170.61
Less: non-operating expenses	16,609,317.91	40,362,686.67
	29

CGN Power Co., Ltd* 2019 Third Quarterly Report

4. Total profit (total losses are denoted by	14,504,235,380.50	12,041,660,524.93
"-")
Less: income tax expenses	1,740,605,703.44	1,075,704,225.03
5. Net profits (net losses are denoted by "-")	12,763,629,677.06	10,965,956,299.90
(I) Classified by continuity of operations
(1) Net profit from continuing	12,763,629,677.06	10,965,956,299.90
operations (net losses are denoted by "-")
(2) Net profit from discontinued
operations (net losses are denoted by "-")
(II) Classified by ownership
(1) Net profit attributable to	8,298,333,285.16	6,779,659,559.23
shareholders of the parent company
(2) Non-controlling interests	4,465,296,391.90	4,186,296,740.67
6. Other comprehensive income, net of tax	280,299,934.07	330,013,847.46
Other comprehensive income, net of tax,	216,659,734.35	253,070,216.02
attributable to shareholders of the Company
(I) Other comprehensive income that	25,792,010.00	21,117,268.53
will not be reclassified to profit or loss
(1) Change arising from	-407,625.00	-1,904,625.00
remeasurement of defined benefit plan
(2) Other comprehensive
income that cannot be transferred to		66,639,133.53
profit or loss under the equity method
(3) Change in fair value of	26,199,635.00	-43,617,240.00
investment in other equity instruments
(4) Change in fair value of credit
risk of the Company
(5) Others
(II) Other comprehensive income that	190,867,724.35	231,952,947.49
may be reclassified to profit or loss
(1) Other comprehensive
income that can be transferred to		940,928.16
profit or loss under the equity method
(2) Change in fair value of other
debt investments
(3) Change in fair value of
financial assets available-for-sale
(4) Other comprehensive
income due to reclassification of financial
assets
(5) Profit or loss arising from
reclassification of held-to-maturity
investments into available-for-sale financial
assets
	30

CGN Power Co., Ltd* 2019 Third Quarterly Report

(6) Impairment loss on other
debt investments
(7) Cash flow hedge
(8) Translation differences
arising from translation of foreign currency	190,867,724.35	231,012,019.33
financial statements
(9) Others
Other comprehensive income, net of tax,	63,640,199.72	76,943,631.44
attributable to non-controlling interests
7. Total comprehensive income	13,043,929,611.13	11,295,970,147.36
Total comprehensive income	8,514,993,019.51	7,032,729,775.25
attributable to shareholders of the Company
Total comprehensive income	4,528,936,591.62	4,263,240,372.11
attributable to non-controlling interests
8. Earnings per share:
(1) Basic earnings per share	0.1804	0.1492
(2) Diluted earnings per share	0.1804	0.1492

If enterprises under common control are merged in current period, the net profit of merged party before merging is RMB, and the net profit of the merged party of last period is RMB.

Company's legal representative: Zhang Shanming

Person-in-charge of accounting: Yin Engang

Head of accounting department: Cheng Chao

6. STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME OF THE PARENT COMPANY FROM THE BEGINNING OF THE YEAR TO THE END OF THE REPORTING PERIOD

		Unit: RMB
Item	Amount for current period	Amount for prior period
1. Operating revenue	413,786,834.41	358,261,427.25
less: Operating costs	358,666,662.14	384,373,733.22
Tax surcharge	336,016.50	157,865.60
Selling expenses		0.00
Administrative expenses	317,654,972.92	306,834,565.27
Research and development expenses	17,525,453.90	6,956,456.42
Finance costs	300,016,263.49	190,379,551.21
Including: Interest expenses	436,739,539.38	323,088,419.58
Interest income	128,553,676.14	96,118,273.11
Add: Other gains		1,603,867.53
Investment income (losses are denoted by	3,115,989,092.98	6,752,366,072.34
"-")
	31

CGN Power Co., Ltd* 2019 Third Quarterly Report

Including: Income from investment in	200,214,650.51	251,965,708.42
associates and joint ventures
Gain on derecognition of financial
assets measured at amortized cost
Net Exposure hedging gains (losses are
denoted by "-")
Gains (losses) from changes in fair value	-375,084.33	2,995,243.35
(losses are denoted by "-")
Impairment losses, net of reversal (losses	-21,235,986.30	2,558,653.00
are denoted by "-")
Asset impairment gains (losses) (losses
are denoted by "-")
Gains (losses) from disposal of assets
(losses are denoted by "-")
2. Operating profit (losses are denoted by "-")	2,556,437,460.41	6,223,965,785.75
Add: non-operating income	10,002.08	10,001.10
Less: non-operating expenses	44,200.60	2,086,816.72
3 Total profit (total losses are denoted by "-")	2,556,403,261.89	6,221,888,970.13
Less: income tax expenses		22,201,782.06
4. Net profits (net losses are denoted by "-")	2,556,403,261.89	6,199,687,188.07
(1) Net profit from continuing operations (net	2,556,403,261.89	6,199,687,188.07
losses are denoted by " -")
(2) Net profit from discontinued operations (net
losses are denoted by "-")
5. Other comprehensive income, net of tax		66,639,133.53
(I) Other comprehensive income that will not
be reclassified		66,639,133.53
to profit or loss
(1) Change arising from remeasurement
of defined benefit plan
(2) Other comprehensive income that
cannot be transferred to profit or loss under the		66,639,133.53
equity method
(3) Change in fair value of investment
in other equity instruments
(4) Change in fair value of credit risk of
the Company
(5) Others
(II) Other comprehensive income that may be
reclassified to profit or loss
(1) Other comprehensive income that
can be transferred to profit or loss under the equity
method
(2) Change in fair value of other debt
	32

CGN Power Co., Ltd* 2019 Third Quarterly Report

investments
(3)	Change in fair value of financial
assets available-for-sale
(4) Other comprehensive income due to
reclassification of financial assets
(5)	Profit or loss arising from
reclassification of held-to-maturity investments into
available-for-sale financial assets
(6)	Impairment loss on other debt
investments
(7)	Cash flow hedge
(8) Translation differences arising from
translation of foreign currency financial statements
(9)	Others
6. Total comprehensive income	2,556,403,261.89	6,266,326,321.60
7. Earnings per share:
(1) Basic earnings per share
(2) Diluted earnings per share

7. CONSOLIDATED STATEMENT OF CASH FLOWS FROM THE BEGINNING OF THE YEAR TO THE END OF THE REPORTING PERIOD

		Unit: RMB
Item	Amount for current period	Amount for prior period

1. Cash flows from operating activities：

Cash received from sales of goods and

rendering of services

49,987,589,211.0444,287,168,388.90

Net increase in customer deposits and placements from other banks

Net increase in due to central banks

Net increase in borrowings from other financial institutions

Cash from premiums on original insurance contracts

Reinsurance business, net amount

Net increase in insured's deposits and investments

Cash received from interests, fees and commissions

Net increase in placements from banks and other financial institutions

Net decrease in financial assets

33

CGN Power Co., Ltd* 2019 Third Quarterly Report

purchased under agreements to resell
Net cash received from customer
brokerage
Tax refunds	2,106,333,639.42	1,257,404,516.67
Other cash received relating to	1,856,006,690.36	1,455,826,294.99
operating activities
Sub-total of cash inflow from operating	53,949,929,540.82	47,000,399,200.56
activities
Cash payment for goods purchased	17,018,565,498.08	14,348,334,704.08
and services received
Net increase in loans receivables
Net increase in deposits with central
bank and other banks
Cash paid for claim settlements on
original insurance contracts
Net increase in placements to banks
and other financial institutions
Cash paid for interest, fees and
commissions
Cash paid for policy dividends
Cash payment to and on behalf of	5,238,835,391.00	3,987,618,396.28
employees
Payments of various types of taxes	5,120,025,204.12	4,038,397,201.50
Other cash payments relating to	2,014,788,083.93	1,481,623,784.58
operating activities
Sub-total cash outflow from operating	29,392,214,177.13	23,855,974,086.44
activities
Net cash flows from operating activities	24,557,715,363.69	23,144,425,114.12
2. Cash flows from investing activities：
Cash received from disposal of	16,256,683.50
investments
Cash received from investments	674,924,891.00	182,997,299.38
income
Net cash received from disposal of
fixed assets, intangible assets and other	532,252.00	715,682.57
long-term assets
Net cash received from disposal	708,306,825.20
subsidiaries and other business entities
Other cash received relating to	1,894,590,537.50	1,399,895,967.81
investing activities
Sub-total cash inflow from investing	3,294,611,189.20	1,583,608,949.76
activities
Cash paid to purchase and construct	10,967,724,840.46	11,166,423,679.32
	34

CGN Power Co., Ltd* 2019 Third Quarterly Report

fixed assets, intangible assets and other
long-term assets
Cash paid for investments	6,430,117,604.97	357,995,925.00
Net increase in pledged loans
Net cash paid for acquisition of		232,680,500.00
subsidiaries and other business entities
Other cash paid relating to investing	2,079,536,283.50	1,517,449,810.58
activities
Sub-total of cash outflow from investing	19,477,378,728.93	13,274,549,914.90
activities
Net total cash flow from investing activities	-16,182,767,539.73	-11,690,940,965.14
3. Cash flows from financing activities：
Cash receipts from capital	13,754,894,013.20	3,106,455,899.00
contributions
Including: Cash receipts from capital
contributions by minority shareholders of	1,344,203,878.01	3,106,455,899.00
subsidiaries
Cash received from borrowings	42,434,542,771.23	33,373,794,202.93
Other cash received relating to	789,004,579.36	421,902,000.00
financing activities
Sub-total of cash inflow from financing	56,978,441,363.79	36,902,152,101.93
activities
Cash repayments for borrowings	44,194,307,343.80	32,538,142,685.86
Cash payments for distribution of
dividends or profit or settlement of interest	13,863,587,646.60	13,115,211,126.81
expenses
Including: Payments for distribution
of dividends or profits to minority	3,224,113,871.29	2,593,626,783.24
shareholders of the subsidiaries
Other cash payments relating to	609,423,001.48	368,386,075.62
financing activities
Sub-total cash outflow from financing	58,667,317,991.88	46,021,739,888.29
activities
Net cash flow from financing activities	-1,688,876,628.09	-9,119,587,786.36
4. Effects of foreign exchange rates	93,669,167.41	117,241,169.51
changes on cash and cash equivalents
5. Net increase in cash and cash equivalents	6,779,740,363.28	2,451,137,532.13
Add: Opening balance of cash and	11,637,718,842.72	10,352,460,227.68
cash equivalents
6. Closing balance of cash and cash	18,417,459,206.00	12,803,597,759.81
equivalents

35

CGN Power Co., Ltd* 2019 Third Quarterly Report

8. STATEMENT OF CASH FLOWS OF THE PARENT COMPANY FROM THE BEGINNING OF THE YEAR TO THE END OF THE REPORTING PERIOD

		Unit: RMB
Item	Amount for current period	Amount for prior period
1. Cash flows from operating activities：
Cash received from sales of goods and	452,224,955.59	419,990,194.10
rendering of services
Tax refunds
Other cash received relating to	119,401,509.48	79,177,097.55
operating activities
Sub-total cash inflow from operating	571,626,465.07	499,167,291.65
activities
Cash payment for goods purchased and	279,686,079.38	153,683,358.26
services received
Cash payments to and on behalf of	298,872,980.85	249,824,280.16
employees
Payments of various types of taxes	336,016.50	157,865.60
Other cash payments relating to	139,937,140.61	230,993,988.25
operating activities
Sub-total cash outflow from operating	718,832,217.34	634,659,492.27
activities
Net cash flows from operating activities	-147,205,752.27	-135,492,200.62
2. Cash flows from investing activities：
Cash received from disposal of	10,517,359,863.08	5,348,000,000.00
investments
Cash received from investments income	1,925,657,476.40	3,172,523,684.93
Net cash received from disposal of fixed
assets, intangible assets and other long-term
assets
Net cash received from disposing
subsidiaries and other business entities
Other cash received relating to investing	1,550,000,000.00	701,884,560.00
activities
Sub-total cash inflow from investing	13,993,017,339.48	9,222,408,244.93
activities
Cash paid to purchase and construct
fixed assets, intangible assets and other	397,118,041.75	395,216,689.31
long-term assets
Cash paid for investments	16,633,158,997.55	9,310,261,726.00
Net cash paid for acquisition of		232,680,500.00
subsidiaries and other business entities
	36

CGN Power Co., Ltd* 2019 Third Quarterly Report

Other cash paid relating to investing	2,063,267,800.67	551,407,660.09
activities
Sub-total of cash outflow from investing	19,093,544,839.97	10,489,566,575.40
activities
Net cash flow from investing activities	-5,100,527,500.49	-1,267,158,330.47
3. Cash flows from financing activities：
Cash receipts from capital contributions	12,410,690,135.19
Cash received from borrowings	5,417,861,972.35	10,373,960,518.02
Other cash received relating to
financing activities
Sub-total cash inflow from financing	17,828,552,107.54	10,373,960,518.02
activities
Cash repayments of borrowings	1,960,958,508.86	1,941,953,617.17
Cash payments for distribution of
dividends or profit or settlement of interest	3,612,991,121.21	3,316,067,127.94
expenses
Other cash payments relating to	7,378,008.90	268,250.00
financing activities
Sub-total of cash outflow from financing	5,581,327,638.97	5,258,288,995.11
activities
Net cash flow from financing activities	12,247,224,468.57	5,115,671,522.91
4. Effects of foreign exchange rates changes	31,186,599.90	52,975,728.20
on cash and cash equivalents
5. Net increase in cash and cash equivalents	7,030,677,815.71	3,765,996,720.02
Add: Opening balance of cash and cash	8,180,127,897.47	7,101,335,054.79
equivalents
6. Closing balance of cash and cash	15,210,805,713.18	10,867,331,774.81
equivalents

II. ADJUSTMENT ON THE FINANCIAL STATEMENTS

1. Adjustment to the related items of the financial statements at the beginning of the year of the first implementation due to the first implementation of the New Financial Instruments Standard or the New Revenue Standard

√ Applicable □ Non-Applicable

CONSOLIDATED STATEMENT OF FINANCIAL POSITION

			Unit: RMB
Item	December 31, 2018	January 1, 2019	Restated
Current assets：
Cash at bank and in hand	15,596,386,387.95	15,596,386,387.95
Settlement reserve
	37

CGN Power Co., Ltd* 2019 Third Quarterly Report

Placements to banks and other
financial institutions
Financial assets held for trading
Financial assets at fair value
through profit or loss
Derivative financial assets	4,753,642.10	4,753,642.10
Bills receivable	18,433,532.76	18,433,532.76
Accounts receivable	6,630,947,443.89	6,630,947,443.89
Accounts receivable financing
Prepayments	5,128,948,753.87	5,089,223,278.41	-39,725,475.46
Premium receivable
Amounts due from reinsurers
Reinsurance contract reserve
receivable
Other receivables	519,127,589.11	518,763,995.00	-363,594.11
Including: Interest receivable
Dividends receivable	146,023,234.13	146,023,234.13
Financial assets purchased under
agreements to resell
Inventories	21,372,255,356.38	21,372,255,356.38
Contract assets	3,409,787,026.47	3,409,787,026.47
Assets classified as held-for-sale
Non-current assets due within	3,659,033.86	3,659,033.86
one year
Other current assets	2,703,617,527.46	2,703,617,527.46
Total current assets	55,387,916,293.85	55,347,827,224.28	-40,089,069.57
Non-current assets：
Loans receivables
Debt investments
Financial assets
available-for-sale
Other debt investments
Held-to-maturity investments
Long-term receivables
Long-term equity investments	10,203,023,176.92	10,203,023,176.92
Other investment in equity	422,689,500.00	422,689,500.00
instruments
Other non-current financial	812,257.18	812,257.18
assets
Investment properties	210,346,041.36	210,346,041.36
Fixed assets	210,850,206,582.15	210,850,206,582.15
Construction in progress	74,624,722,113.05	74,624,722,113.05
Bearer biological assets
	38

CGN Power Co., Ltd* 2019 Third Quarterly Report

Oil and gas assets
Right-of-use assets		1,202,135,473.97	1,202,135,473.97
Intangible assets	4,719,796,447.25	4,719,796,447.25
Development costs	1,962,455,756.90	1,962,455,756.90
Goodwill	419,242,673.32	419,242,673.32
Long-term deferred expenses	1,734,658,492.05	1,677,042,860.65	-57,615,631.40
Deferred tax assets	1,774,868,398.17	1,774,868,398.17
Other non-current assets	6,244,932,628.08	6,244,932,628.08
Total non-current assets	313,167,754,066.43	314,312,273,909.00	1,144,519,842.57
Total assets	368,555,670,360.28	369,660,101,133.28	1,104,430,773.00
Current liabilities：
Short-term loans	16,366,742,257.35	16,366,742,257.35
Due to central banks
Placements from banks and other
financial institutions
Financial liabilities held for
trading
Financial liabilities at fair value
through profit or loss
Derivative financial liabilities	2,724,971.67	2,724,971.67
Bills payable	2,260,164,887.24	2,260,164,887.24
Accounts payable	15,986,899,682.85	15,986,899,682.85
Receipts in advance	2,058,361.07	2,058,361.07
Contract liabilities	835,799,748.43	835,799,748.43
Financial assets sold under
agreement to repurchase
Customer deposits and
placements from other financial
institutions
Customer brokerage deposits
Securities underwriting
brokerage deposits
Employee benefits payable	42,616,433.80	42,616,433.80
Tax payable	1,431,294,200.96	1,431,294,200.96
Other payables	3,878,479,167.43	3,878,479,167.43
Including: Interests payable
Dividends payable	968,903,753.94	968,903,753.94
Fee and commissions payable
Amounts due to reinsurer
Liabilities classified as
held-for-sale
Non-current liabilities due	18,853,766,355.93	19,131,713,852.06	277,947,496.13
within one year
	39

CGN Power Co., Ltd* 2019 Third Quarterly Report

Other current liabilities	964,545,364.41	964,545,364.41
Total current liabilities	60,625,091,431.14	60,903,038,927.27	277,947,496.13
Non-current liabilities：
Reserve of insurance contract
Long-term loans	179,639,946,139.80	179,639,946,139.80
Bonds payable	8,488,044,399.25	8,488,044,399.25
Including: Preference shares
Perpetual bonds
Lease liabilities		826,483,276.87	826,483,276.87
Long-term payables
Long-term employee benefits	102,267,273.40	102,267,273.40
payable
Provisions	4,001,531,754.01	4,001,531,754.01
Deferred income	1,395,854,838.75	1,395,854,838.75
Deferred tax liabilities	1,177,284,416.72	1,177,284,416.72
Other non-current liabilities
Total non-current liabilities	194,804,928,821.93	195,631,412,098.80	826,483,276.87
Total Liabilities	255,430,020,253.07	256,534,451,026.07	1,104,430,773.00
Equity：
Share capital	45,448,750,000.00	45,448,750,000.00
Other equity instruments
Including: Preference shares
Perpetual bonds
Capital reserve	3,350,519,181.82	3,350,519,181.82
Less: Treasury stock
Other comprehensive income	699,854,140.51	699,854,140.51
specific reserve	197,139,693.40	197,139,693.40
Surplus reserve	3,341,495,665.44	3,341,495,665.44
General provisions
Retained earnings	18,077,156,831.53	18,077,156,831.53
Equity attributable to owners (or	71,114,915,512.70	71,114,915,512.70
shareholders) of the Company
Non-controlling interests	42,010,734,594.51	42,010,734,594.51
Total equity	113,125,650,107.21	113,125,650,107.21
Total liabilities and equity	368,555,670,360.28	369,660,101,133.28	1,104,430,773.00

Restated statement

STATEMENT OF FINANCIAL POSITION OF THE PARENT COMPANY

Unit: RMB

Item	December 31, 2018	January 1, 2019	Restated

40

			CGN Power Co., Ltd* 2019 Third Quarterly Report
	Current assets：
	Cash at bank and in hand	9,741,247,550.24	9,741,247,550.24
	Financial assets held for trading
	Financial assets at fair value
	through profit or loss
	Derivative financial assets
	Notes receivable
	Accounts receivable	691,807,188.60	691,807,188.60
	Accounts receivable financing
	Prepayments	12,051,211.58	12,051,211.58
	Other receivables	1,234,738,858.24	1,234,738,858.24
	Including：Interest receivable
	Dividends receivable	1,042,667,333.07	1,042,667,333.07
	Inventories
	Contract assets
	Assets classified as held-for-sale
	Non-current assets due within	4,000,000,000.00	4,000,000,000.00
	one year
	Other current assets	5,904,124,692.57	5,904,124,692.57
	Total current assets	21,583,969,501.23	21,583,969,501.23
	Non-current assets：
	Debt investments	6,088,000,000.00	6,088,000,000.00
	Financial assets
	available-for-sale
	Other debt investments
	Held-to-maturity investments
	Long-term receivables
	Long-term equity investments	78,003,718,957.43	78,003,718,957.43
	Other equity instruments
	investment
	Other non-current financial
	assets
	Investment properties
	Fixed assets	37,287,554.98	37,287,554.98
	Construction in progress	60,323,650.73	60,323,650.73
	Bearer biological assets
	Oil and gas assets
	Right-of-use assets		187,382,263.97	187,382,263.97
	Intangible assets	240,506,543.32	240,506,543.32
	Development costs	773,743,861.01	773,743,861.01
	Goodwill
		41

CGN Power Co., Ltd* 2019 Third Quarterly Report

Long-term deferred expenses
Deferred tax assets
Other non-current assets	39,060,484.23	39,060,484.23
Total non-current assets	85,242,641,051.70	85,430,023,315.67	187,382,263.97
Total assets	106,826,610,552.93	107,013,992,816.90	187,382,263.97
Current liabilities：
Short-term loans	9,612,506,721.28	9,612,506,721.28
Financial liabilities held for
trading
Financial liabilities at fair value
through profit or loss
Derivative financial liabilities
Notes payable
Accounts payable	429,277,843.18	429,277,843.18
Advanced receipts
Contract liabilities	4,384,800.02	4,384,800.02
Employee benefits payable	2,544,490.66	2,544,490.66
Tax payable	5,322,716.15	5,322,716.15
Other payables	41,028,621.80	41,028,621.80
Including: Interests payable
Dividends payable
Liabilities classified as
held-for-sale
Non-current liabilities due	165,565,753.43	233,271,379.89	67,705,626.46
within one year
Other current liabilities
Total current liabilities	10,260,630,946.52	10,328,336,572.98	67,705,626.46
Non-current liabilities：
Long-term borrowings
Bonds payable	8,488,044,399.25	8,488,044,399.25
Including: Preference shares
Perpetual bonds
Lease liabilities		119,676,637.51	119,676,637.51
Long-term payables
Long-term employee benefits	8,355,898.21	8,355,898.21
payable
Provisions
Deferred revenue
Deferred tax liabilities
Other non-current liabilities
Total non-current liabilities	8,496,400,297.46	8,616,076,934.97	119,676,637.51
Total Liabilities	18,757,031,243.98	18,944,413,507.95	187,382,263.97
	42

			CGN Power Co., Ltd* 2019 Third Quarterly Report
	Equity：
	Share capital	45,448,750,000.00	45,448,750,000.00
	Other equity instruments
	Including: Preference shares
	Perpetual bonds
	Capital reserve	24,441,698,121.44	24,441,698,121.44
	Less: Treasury stock
	Other comprehensive income
	Specialized reserve
	Surplus reserve	2,929,804,225.34	2,929,804,225.34
	Retained earnings	15,249,326,962.17	15,249,326,962.17
	Total equity	88,069,579,308.95	88,069,579,308.95
	Total liabilities and equity	106,826,610,552.93	107,013,992,816.90	187,382,263.97

Explanation for adjustments

On December 7, 2018, the Ministry of Finance issued Cai Kuai [2018] No.35 Notice (財會 [2018]35號通知) to amend the Accounting Standards for Business Enterprises No.21 - Leases (《企業會計準則第21號-租賃》) (the "New Lease Standard"), which requires companies that are listed both domestically and overseas, and companies that are listed overseas and adopt the International Financial Reporting Standards or the Accounting Standards for Business Enterprises for the preparation of financial statements to adopt the standards, with effect from January 1, 2019. Pursuant to the New Lease Standard, the Company adjusted the amount of the retained earnings and other relevant accounts at the beginning of the year based on the cumulative impact of the initial implement of the New Lease Standard without adjusting the information of the comparable period.

2. Explanation for the retrospective adjustment to previous comparable data in respect of first implementation of New Financial Instrument Standards and New Leasing Standards implemented from 2019

□ Applicable √ Non-applicable

III. Audit Report

Whether the third quarterly report has been audited □ Yes √ No

The third quarterly report of the Company is unaudited. *For identification purpose only

43