[三季报]招港B(201872):2025年三季度报告（英文版）

 时间：2025年10月31日 01:49:02 中财网

原标题:招港B:2025年三季度报告（英文版）

StockCode:001872/201872 StockName:CMPortGroup/CMPortGroupB AnnouncementNo.2025-068ChinaMerchantsPortGroupCo.,Ltd.(hereinafterreferredtoasthe“Company”)andallthemembersoftheCompany’sBoardofDirectorsherebyguaranteethatthecontents of this Report are factual, accurate and complete and free of anymisrepresentations,misleadingstatementsormaterialomissions.
ImportantNotes:
1.TheBoardofDirectors(orthe“Board”)aswellasthedirectorsandseniormanagementoftheCompanyherebyguaranteethefactuality,accuracyandcompletenessofthecontentsofthisReport,andshallbejointlyandseverallyliableforanymisrepresentations,misleadingstatementsormaterialomissionstherein.2.XuSong,theCompany’slegalrepresentative,HuangZhenzhou,theCompany’sChiefFinancialOfficerandLiuShixia,theperson-in-chargeoftheaccountingorganherebyguaranteethatthefinancialstatementscarriedinthisReportarefactual,accurateandcomplete.
3.Indicatebytickmarkwhetherthefinancialstatementshereinhavebeenauditedbyanindependentauditor.□Yes√No
4.Matterswithmodifiedauditopinionsissuedbyindependentauditors□Applicable√Notapplicable
5.SecuritiesTimes,ChinaSecuritiesJournal,ShanghaiSecuritiesNewsandhttp://www.cninfo.com.cnhavebeendesignatedbytheCompanyforinformationdisclosure.AndallinformationabouttheCompanyshallbesubjecttowhat’sdisclosedontheaforesaidmedia.
This Report has been prepared in both Chinese and English. Should there be any discrepancies ormisunderstandingsbetweenthetwoversions,theChineseversionshallprevail.IKeyFinancialInformation
(I)KeyAccountingDataandFinancialIndicators
Indicatebytickmarkwhetherthereisanyretrospectivelyrestateddatuminthetablebelow.□Yes√No

　Q32025YoYchange(%)Q1-Q32025YoYchange(%)
Totaloperating income(RMB)4,293,227,201.612.44%12,761,718,577.694.89%
Netprofit attributableto shareholdersofthe Company(RMB)1,179,988,081.33-0.78%3,806,626,280.801.89%
Netprofit1,156,020,137.95-3.01%3,674,706,174.159.49%
attributableto shareholdersofthe Companyafter deducting non-recurringgains andlosses(RMB)　　　　
Netcashinflow fromoperating activities(RMB)——5,333,444,634.74-1.24%
Basicearningsper share(RMB/share)0.47-0.81%1.532.68%
Dilutedearnings pershare (RMB/share)0.47-0.81%1.532.68%
Weightedaverage returnonequity(%)1.87%-0.10%6.08%-0.15%
　30September202531December2024Change(%)　
Totalassets(RMB)203,240,253,667.06201,517,851,881.450.85%　
Equityattributable toshareholdersof theCompany (RMB)63,638,032,018.7161,502,739,842.963.47%　
ThetotalsharecapitalattheendofthelasttradingsessionbeforethedisclosureofthisReport:
Totalsharecapitalattheendofthelasttradingsessionbefore thedisclosureofthisReport(share)2,481,747,585
Dilutedearningspersharebasedonthelatesttotalsharecapitalabove:
Dilutedearningspersharebasedonthelatesttotalshare capitalabove(RMB/share)1.5338
(II)Non-recurringgainsandLosses
Unit:RMB

ItemQ32025Q1-Q32025Note
Gainsorlossesondisposalofnon-current assets,includingthosechargedoffforwhich provisionforimpairmentofassetshasbeen made-13,531,556.70-4,812,754.26-
Governmentgrantsrecognizedinprofitor loss(otherthangrantswhichareclosely relatedtotheCompany'sbusiness,inline withthenationalregulations,enjoyedunder establishedstandardsandhaveacontinuous impactontheCompany'sprofitorloss)3,365,895.57101,848,706.46-
Gainsorlossesfromchangesinfairvalueof financialassetsandfinancialliabilitiesheld bynon-financialenterprisesotherthan effectivehedgingoperationrelatingtothe Company'snormaloperations,andgainsor lossesfromdisposaloffinancialassetsand financialliabilities25,258,624.7788,646,654.19-
Incomeearnedfromlendingfundsto non-financialinstitutionsandrecognizedin profitorloss24,851,655.8569,881,733.55-
Reversalofprovisionforaccounts receivablethataretestedforimpairment individually91,456.576,648,126.40-
Othernon-operatingincomeorexpenses otherthanabove14,181,691.3620,790,976.27-
Less:Incometaxeffects4,135,217.9029,237,365.19-
Effectsofnon-controllinginterests (aftertax)26,114,606.14121,845,970.77-
Total23,967,943.38131,920,106.65--
Otheritemsthatmeetthedefinitionofexceptionalgain/loss:
□Applicable√Notapplicable
Nosuchcases.
Explanationofthesituationwherethenon-recurringgainsandlossesitemslistedinInterpretativeAnnouncementNo.1ofCompaniesIssuingPubliclyTradedSecurities-Non-RecurringGainsandLossesaredefinedasrecurringgainsandlossesitems:
□Applicable√Notapplicable
Nosuchcases.
(III)ChangesinKeyFinancialStatementLineItemsandTheirExplanationUnit:RMB

Balancesheetitems30September202531December2024ChangeExplanationofchanges
Billsreceivable72,700,623.06270,127,883.63-73.09%Mainlyduetothecollectionof billsreceivableuponmaturity
Accountsreceivable2,322,587,270.361,193,408,383.7894.62%Mainlyduetothecyclical influenceofpaymentcollection
Otherreceivables747,247,654.641,166,499,343.90-35.94%Mainlyduetothereceiptof dividendsfrominvestees
Contractliabilities402,914,216.96267,888,272.6250.40%Mainlyduetotheincreasein customerprepayments
Non-currentliabilitiesdue withinoneyear6,166,197,695.5310,506,682,795.60-41.31%Mainlyduetotherepaymentof maturedebts
Othercurrentliabilities2,234,131,418.594,061,201,760.72-44.99%Mainlyduetotherepaymentof short-termcommercialpapers payable
Long-termborrowings10,024,961,705.7715,582,593,255.65-35.67%Mainlyduetotherepaymentof long-termborrowings
Bondspayable18,798,535,363.4513,875,559,119.5235.48%Mainlyduetothenewissuance ofbondspayable
Treasuryshares388,952,994.1850,559,789.14669.29%Mainlyduetotheincreasein repurchasedshares
IncomestatementitemsQ1-Q32025Q1-Q32024ChangeExplanationofchanges
Gainsfromchangesinfair value29,806,324.64420,480,709.83-92.91%Mainlyduetothedecreased gainsfromchangesinthefair valueofothernon-current financialassetsheldinthe currentperiod
Reversalofcredit impairment5,339,696.89323,301,702.32-98.35%Mainlybecauseasubsidiary receivedanoperating compensationfromitsminority shareholdersinthesameperiod oflastyear,andtherelevant impairmentprovision establishedinthepriorperiod wasreversed,whiletherewere nocomparablemattersinthe currentperiod
CashflowstatementitemsQ1-Q32025Q1-Q32024ChangeExplanationofchanges
Proceedsfromother operatingactivities582,892,459.80968,472,321.45-39.81%Mainlybecauseasubsidiary receivedanoperating compensationfromitsminority shareholdersinthesameperiod oflastyear,whiletherewereno comparablemattersinthe currentperiod
Proceedsfromdisposalsof investments32,059,800,000.0018,169,723,017.6776.45%Mainlyduetotheincreased redemptionofstructured depositsuponmaturity
Proceedsfromother investingactivities236,053,508.8216,265,719.241,351.23%Mainlybecausesubsidiaries collectedseaareausagefeesfor thegovernmentinthecurrent period
Paymentforacquisitionof fixedassets,intangible assetsandotherlong-term assets1,758,375,692.671,267,417,530.7038.74%Mainlyduetotheincreased paymentforacquisitionoffixed assets,intangibleassetsand otherlong-termassetsinthe currentperiod
Paymentforacquisitionof investments31,206,806,292.7217,330,609,480.1480.07%Mainlyduetotheincreased purchaseofstructureddeposits inthecurrentperiod
Paymentforotherinvesting activities168,789,076.73260,956,940.52-35.32%Mainlyduetothepaymentin thesameperiodoflastyearof taxesinrelationtoland expropriationinprioryears, withnocomparablemattersin thecurrentperiod
Proceedsfromother financingactivities258,621,517.5448,811,913.01429.83%Mainlyduetotheincreasein advancepaymentreceivedby subsidiariesfromminority shareholdersandreceiptsunder financeleasesinthecurrent period
Paymentforother financingactivities649,854,745.80344,306,811.0688.74%Mainlyduetotheincreased paymentforsharerepurchases inthecurrentperiod
IIUseofRaisedFunds
□Applicable√Notapplicable
NosuchcasesintheReportingPeriod.
IIIShareholderInformation
(I)NumbersofOrdinaryShareholdersandPreferredShareholderswithResumedVotingRightsaswellasHoldingsofTop10Shareholders
Unit:share

　29,439 (19,514A-shareholders and9,925B-shareholders)Numberofpreferredshareholderswithresumed votingrightsattheperiod-end(ifany)0　　　
　　　　　　　
　Natureof sharehold erShareh olding percent ageTotalshares heldRestricted sharesheldSharesinpledge,markedor frozen　
　　　　　StatusShares
　Overseas legal person45.92%1,148,648,6480-0
ZhejiangProvincialSeaport Investment&OperationGroupCo., Ltd.State-own edlegal person23.05%576,709,537576,709,537-0
ChinaMerchantsGangtongState-own14.83%370,878,0000-0
Development(Shenzhen)Co.,Ltd.edlegal person　　　　　
ShenzhenInfrastructureInvestment Fund-ShenzhenInfrastructure InvestmentFundPartnership (LimitedPartnership)Fundand wealth managem ent products etc.2.59%64,850,1820-0
BroadfordGlobalLimitedState-own edlegal person2.21%55,314,2080-0
China-AfricaDevelopmentFundState-own edlegal person0.62%15,610,3680-0
HongKongSecuritiesClearing CompanyLtd.Overseas legal person0.36%8,889,0060-0
ZouYanminDomestic natural person0.28%6,896,0610-0
TheChinesePeople'sProperty InsuranceCo.,Ltd.－Traditional- GeneralInsuranceProduct PICCLifeInsuranceCompany Limited－Traditional-General InsuranceProduct Top10unrestrictedsharehold Nameofshareholder ChinaMerchantsPortInvestmentDeve CompanyLimitedFundand wealth managem ent products etc.0.19%4,712,9000-0
　Fundand wealth managem ent products etc.0.18%4,460,9000-0
　　　　　　　
　UnrestrictedsharesheldSharesbytype Type Shares　　　　
　　　Shares　　　
　1,148,648,648RMBordinary share1,148,648,648　　　
ChinaMerchantsGangtongDevelopment (Shenzhen)Co.,Ltd.370,878,000RMBordinary share370,878,000　　　
ShenzhenInfrastructureInvestment Fund-ShenzhenInfrastructureInvestmentFund Partnership(LimitedPartnership)64,850,182RMBordinary share64,850,182　　　

BroadfordGlobalLimited55,314,208Domestically listedoverseas share55,314,208
China-AfricaDevelopmentFund15,610,368RMBordinary share15,610,368
HongKongSecuritiesClearingCompanyLtd.8,889,006RMBordinary share8,889,006
ZouYanmin6,896,061Domestically listedoverseas share6,896,061
TheChinesePeople'sPropertyInsuranceCo.,Ltd. －Traditional-GeneralInsuranceProduct PICCLifeInsuranceCompanyLimited－ Traditional-GeneralInsuranceProduct LiRunrong4,712,900RMBordinary share4,712,900
　4,460,900RMBordinary share4,460,900
　3,591,275RMBordinary share3,591,275
Relatedoracting-in-concert partiesamongtheshareholders above1.BroadfordGlobalLimitedisentrustedtomanagethe74.66%sharesofRainbowReflection Limited held by China Merchants Holdings (Hong Kong) Company Limited, and China MerchantsPortInvestmentDevelopmentCompanyLimitedisthewholly-ownedsubsidiaryof RainbowReflectionLimited. 2.BroadfordGlobalLimitedisthecontrollingshareholderofChinaMerchantsGangtong Development(Shenzhen)Co.,Ltd. TheCompanydoesnotknowwhethertheotherunrestrictedshareholdersarerelatedpartiesor not.　　
Top10shareholdersinvolvedin securitiesmargintrading(ifany)N/A　　
5%orgreatershareholders,top10shareholdersandTop10unrestrictedshareholdersinvolvedinrefinancingshareslending
□Applicable√Notapplicable
Changesintop10shareholdersandtop10unrestrictedshareholdersduetorefinancingshareslending/returncomparedwiththepriorperiod
□Applicable√Notapplicable
(II)NumberofPreferredShareholdersandShareholdingsofTop10ofThem□Applicable√Notapplicable
IVOtherSignificantEvents
VQuarterlyFinancialStatements
(I)FinancialStatements
1.ConsolidatedBalanceSheet
PreparedbyChinaMerchantsPortGroupCo.,Ltd.
30September2025
Unit:RMB

Item30September20251January2025
Currentassets:　　
Cashandbankbalances15,021,153,322.0316,630,400,701.13
Settlementreserve　　
Interbankloansgranted　　
Financialassetsheldfortrading4,881,021,480.825,685,135,472.01
Derivativefinancialassets　　
Billsreceivable72,700,623.06270,127,883.63
Accountsreceivable2,322,587,270.361,193,408,383.78
Receivablesunderfinancing100,682,605.24　
Prepayments94,988,911.5959,177,117.22
Premiumsreceivable　　
Reinsurancereceivables　　
Receivablereinsurancecontract reserve　　
Otherreceivables747,247,654.641,166,499,343.90
Including:Interestreceivable　　
Dividendsreceivable201,334,783.65554,387,723.94
Purchasedandresoldfinancialassets　　
Inventories311,356,943.06269,958,020.34
Including:Dataresource　　
Contractassets　　
Assetsheldforsale　　
Non-currentassetsduewithinoneyear35,007,491.0334,997,992.08
Othercurrentassets263,156,452.97251,697,812.77
Totalcurrentassets23,849,902,754.8025,561,402,726.86
Non-currentassets:　　
Loansandadvancestocustomers　　
Investmentsindebtobligations　　
Investmentsinotherdebtobligations　　
Long-termreceivables3,895,475,737.533,777,373,574.70
Long-termequityinvestments102,830,931,091.25100,018,029,894.96
Investmentsinotherequity instruments139,451,887.05139,451,887.05
Othernon-currentfinancialassets28,524,600.3128,524,600.31
Investmentproperties3,189,441,516.903,288,690,070.60
Fixedassets30,768,996,859.0830,689,217,791.45
Constructioninprogress3,115,242,821.193,311,109,996.59
Productivelivingassets　　
Oilandgasassets　　
Right-of-useassets8,761,380,225.088,957,352,063.54
Intangibleassets17,966,429,573.5417,335,082,422.84
Including:Dataresource5,789,269.016,251,120.27
Developmentcosts22,135,111.2363,395,053.69
Including:Dataresource　　
Goodwill6,302,911,291.245,933,310,929.34
Long-termdeferredexpenses924,051,057.43940,404,479.94
Deferredtaxassets319,473,049.09365,481,207.77
Othernon-currentassets1,125,906,091.341,109,025,181.81
Totalnon-currentassets179,390,350,912.26175,956,449,154.59
Totalassets203,240,253,667.06201,517,851,881.45
Currentliabilities:　　
Short-termborrowings16,304,482,773.2112,791,242,141.69
Borrowingsfromthecentralbank　　
Interbankloansobtained　　
Financialliabilitiesheldfortrading　　
Derivativefinancialliabilities　　
Billspayable　1,536,194.00
Accountspayable752,395,831.52785,830,532.33
Advancepaymentreceived15,829,207.3414,576,237.84
Contractliabilities402,914,216.96267,888,272.62
Financialassetssoldunderrepurchase agreements　　
Customerdepositsandinterbank deposits　　
Payablesforactingtradingof securities　　
Payablesforunderwritingofsecurities　　
Employeebenefitspayable1,236,338,995.901,168,592,349.15
Taxespayable842,357,486.37725,165,726.32
Otherpayables2,136,398,386.741,923,980,312.98
Including:Interestpayable　　
Dividendspayable605,988,244.69132,334,744.28
Handlingchargesandcommissions payable　　
Reinsurancepayables　　
Liabilitiesheldforsale　　
Non-currentliabilitiesduewithinone year6,166,197,695.5310,506,682,795.60
Othercurrentliabilities2,234,131,418.594,061,201,760.72
Totalcurrentliabilities30,091,046,012.1632,246,696,323.25
Non-currentliabilities:　　
Insurancecontractreserve　　
Long-termborrowings10,024,961,705.7715,582,593,255.65
Bondspayable18,798,535,363.4513,875,559,119.52
Including:Preferenceshares　　
Perpetualbonds　　
Leaseliabilities1,469,119,126.971,387,206,990.51
Long-termpayables3,693,615,905.383,204,582,672.75
Long-termemployeebenefitspayable643,362,178.90655,658,044.98
Provisions82,025,108.36159,435,795.50
Deferredincome1,236,682,347.691,268,975,316.61
Deferredtaxliabilities4,956,699,349.974,795,985,333.59
Othernon-currentliabilities178,608,087.27182,720,254.84
Totalnon-currentliabilities41,083,609,173.7641,112,716,783.95
Totalliabilities71,174,655,185.9273,359,413,107.20
Shareholders'equity:　　
Sharecapital2,501,565,281.002,501,308,481.00
Otherequityinstruments　　
Including:Preferenceshares　　
Perpetualbonds　　
Capitalreserve37,214,075,386.3837,362,981,831.67
Less:Treasuryshares388,952,994.1850,559,789.14
Othercomprehensiveincome-926,536,769.69-1,558,381,237.45
Specificreserve63,321,175.0440,074,647.27
Surplusreserve1,249,537,330.501,249,537,330.50
Generalreserve　　
Retainedearnings23,925,022,609.6621,957,778,579.11
Totalequityattributabletoshareholders oftheCompany63,638,032,018.7161,502,739,842.96
Non-controllinginterests68,427,566,462.4366,655,698,931.29
Totalshareholders'equity132,065,598,481.14128,158,438,774.25
Totalliabilitiesandshareholders'equity203,240,253,667.06201,517,851,881.45
LegalRepresentative:XuSong
ChiefFinancialOfficer:HuangZhenzhou
HeadofAccountingDepartment:LiuShixia
2.ConsolidatedIncomeStatementforQ1-Q3
Unit:RMB

ItemQ1-Q32025Q1-Q32024
1.Totaloperatingincome12,761,718,577.6912,166,341,002.65
Including: Operatingincome12,761,718,577.6912,166,341,002.65
Interestincome　　
Premiumincome　　
Handlingchargeandcommissionincome　　
2.Totaloperatingcosts9,651,169,282.999,668,622,334.00
Including: Operatingcosts7,025,113,831.966,724,742,007.36
Interestexpense　　
Handlingchargeandcommissionexpense　　
Surrenders　　
Netclaimspaid　　
Netamountprovidedaspolicyreserve　　
Expenditureonpolicydividends　　
Reinsurancepremiumexpense　　
Taxesandsurcharges261,910,372.07243,239,281.56
Sellinganddistributionexpenses　　
Generalandadministrativeexpenses1,131,791,808.521,221,499,434.98
Researchanddevelopmentexpenses133,679,811.72129,428,104.22
Financeexpenses1,098,673,458.721,349,713,505.88
Including:Interestexpenses1,412,059,197.321,670,913,976.25
Interestincome279,493,102.17353,798,409.79
Add:Otherincome142,769,198.68121,368,848.38
Investmentincome("-"forlosses)5,222,699,354.595,012,672,259.88
Including:Incomefrominvestmentsin associatesandjointventures5,170,470,933.554,932,627,649.09
Incomearisingfromthe derecognitionoffinancialassetsat amortizedcost("-"forlosses)　　
Foreignexchangegain("-"forlosses)　　
Netexposurehedgingincome("-"forlosses)　　
Gainsfromchangesinfairvalue("-"forlosses)29,806,324.64420,480,709.83
Reversalofcreditimpairment5,339,696.89323,301,702.32
Impairmentlosses("-"forlosses)1,614.2692,227.23
Gainsfromassetsdisposals("-"forlosses)6,697,124.4533,557,038.04
3.Operatingprofit("-"forlosses)8,517,862,608.218,409,191,454.33
Add:Non-operatingincome36,169,262.7225,376,308.72
Less:Non-operatingexpenses20,226,678.1538,630,602.59
4.Profitbeforeincometax("-"forlosses)8,533,805,192.788,395,937,160.46
Less:Incometaxexpenses1,070,350,492.851,088,396,529.42
5.Netprofit("-"forlosses)7,463,454,699.937,307,540,631.04
5.1Netprofitclassifiedbycontinuityofoperations　　
5.1.1Netprofitfromcontinuingoperation("-"for losses)7,463,454,699.937,307,540,631.04
5.1.2Netprofitfromdiscontinuedoperation("-"for losses)　　
5.2Netprofitclassifiedbyownership　　
5.2.1Netprofitattributabletoshareholdersofthe Company("-"forlosses)3,806,626,280.803,736,113,366.24
5.2.2Netprofitattributabletonon-controlling interests("-"forlosses)3,656,828,419.133,571,427,264.80
6.Othercomprehensiveincome,netoftax1,618,344,929.43-872,689,691.70
Othercomprehensiveincome(netoftax)attributable toshareholdersoftheCompany,631,635,570.62-316,035,390.55
6.1Othercomprehensiveincomethatwillnotbe reclassifiedtoprofitorloss3,719,262.134,027,539.13
6.1.1Remeasurementofdefinedbenefitplan　　
6.1.2Othercomprehensiveincomerecognised undertheequitymethod3,719,262.134,027,539.13
6.1.3Changesinfairvalueofinvestmentsinother equityinstruments　　
6.1.4Changesinfairvalueofentity’sowncredit risk　　
6.1.5Others　　
6.2Othercomprehensiveincomethatwillbe reclassifiedtoprofitorloss627,916,308.49-320,062,929.68
6.2.1Othercomprehensiveincomerecognised undertheequitymethod228,729,223.96-43,061,557.12
6.2.2Changesinfairvalueofotherdebt investments　　
6.2.3Amountoffinancialassetsreclassifiedinto othercomprehensiveincome　　
6.2.4Creditlossesofotherdebtinvestments　　
6.2.5Cashflowhedgereserve　　
6.2.6Translationdifferencesarisingfromtranslation offoreigncurrencyfinancialstatements399,187,084.53-277,001,372.56
6.2.7Others　　
Othercomprehensiveincome(netoftax)attributable tonon-controllinginterests986,709,358.81-556,654,301.15
7.Totalcomprehensiveincomefortheperiod9,081,799,629.366,434,850,939.34
7.1ShareholdersoftheCompany4,438,261,851.423,420,077,975.69
7.2Non-controllinginterests4,643,537,777.943,014,772,963.65
8.Earningspershare　　
8.1Basicearningspershare1.531.49
8.2Dilutedearningspershare1.531.49
3.ConsolidatedCashFlowStatementforQ1-Q3
Unit:RMB

ItemQ1-Q32025Q1-Q32024
1.Cashflowsfromoperatingactivities:　　
Proceedsfromsalesofgoodsand renderingofservices12,202,004,933.0811,866,894,984.48
Netincreaseincustomerdepositsand interbankdeposits　　
Netincreaseinborrowingsfromthe centralbank　　
Netincreaseinloansfromother financialinstitutions　　
Premiumsreceivedonoriginal insurancecontracts　　
Netproceedsfromreinsurance　　
Netincreaseindepositsand investmentsofpolicyholders　　
Interest,handlingchargesand commissionsreceived　　
Netincreaseininterbankloans obtained　　
Netincreaseinproceedsfrom repurchasetransactions　　
Netproceedsfromactingtradingof securities　　
Refundoftaxes27,372,611.3245,834,166.56
Proceedsfromotheroperating activities582,892,459.80968,472,321.45
Sub-totalofcashinflows12,812,270,004.2012,881,201,472.49
Paymentforgoodsandservices3,164,118,721.593,239,514,370.35
Netincreaseinloansandadvancesto customers　　
Netincreaseindepositsinthecentral bankandininterbankloansgranted　　
Paymentforclaimsonoriginal insurancecontracts　　
Netincreaseininterbankloansgranted　　
Interest,handlingchargesand commissionspaid　　
Policydividendspaid　　
Paymenttoandforemployees2,684,716,615.982,555,276,771.81
Paymentofvarioustaxes1,139,051,249.091,180,817,220.24
Paymentforotheroperatingactivities490,938,782.80505,434,167.23
Sub-totalofcashoutflows7,478,825,369.467,481,042,529.63
Netcashflowsfromoperatingactivities5,333,444,634.745,400,158,942.86
2.Cashflowsfrominvestingactivities:　　
Proceedsfromdisposalsof investments32,059,800,000.0018,169,723,017.67
Investmentreturnsreceived2,697,872,122.772,266,573,974.82
Netproceedsfromdisposaloffixed assets,intangibleassetsandother long-termassets97,172,565.986,781,223.42
Netproceedsfromdisposalof subsidiariesandotherbusinessunits　　
Proceedsfromotherinvesting activities236,053,508.8216,265,719.24
Sub-totalofcashinflows35,090,898,197.5720,459,343,935.15
Paymentforacquisitionoffixed assets,intangibleassetsandother long-termassets1,758,375,692.671,267,417,530.70
Paymentforacquisitionof investments31,206,806,292.7217,330,609,480.14
Netincreaseinpledgedloansgranted　　
Netpaymentforacquisitionof subsidiariesandotherbusinessunits13,009,257.22293,204,166.66
Paymentforotherinvestingactivities168,789,076.73260,956,940.52
Sub-totalofcashoutflows33,146,980,319.3419,152,188,118.02
Netcashflowsfrominvestingactivities1,943,917,878.231,307,155,817.13
3.Cashflowsfromfinancingactivities:　　
Proceedsfrominvestors5,247,961.4067,846,309.49
Including:Proceedsfrom non-controllingshareholdersof subsidiaries　43,561,800.00
Proceedsfromborrowings20,602,253,184.7821,879,785,125.78
Proceedsfromotherfinancing activities258,621,517.5448,811,913.01
Sub-totalofcashinflows20,866,122,663.7221,996,443,348.28
Repaymentofborrowings23,708,226,435.6324,131,659,774.08
Paymentfordividends,profit distributionsorinterests5,393,986,448.694,712,496,174.26
Including:Dividendsandprofits paidtonon-controllingshareholders ofsubsidiaries2,213,945,514.671,626,786,229.57
Paymentforotherfinancingactivities649,854,745.80344,306,811.06
Sub-totalofcashoutflows29,752,067,630.1229,188,462,759.40
Netcashflowsfromfinancingactivities-8,885,944,966.40-7,192,019,411.12
4.Effectofforeignexchangerate changesoncashandcashequivalents27,681,072.81-94,989,433.40
5.Netincreaseincashandcash equivalents-1,580,901,380.62-579,694,084.53
Add:Cashandcashequivalentsatthe beginningoftheyear16,515,069,554.9116,018,613,631.10
6.Cashandcashequivalentsattheend oftheperiod14,934,168,174.2915,438,919,546.57
(II)AdjustmentstoFinancialStatementItemsattheBeginningoftheYearoftheFirstImplementationoftheNewAccountingStandardsImplementedsince2025□Applicable√Notapplicable（未完）
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