FIRST QUARTERLY REPORT FOR THE YEAR 2021

  1. IMPORTANT NOTICE
    1. The board of directors (the "Board") and the supervisory committee of Inner Mongolia Yitai Coal Co., Ltd.* (the "Company") and its directors, supervisors and senior management shall warrant truthfulness, accuracy and completeness of the information contained in this quarterly report, that there are no false representations, misleading statements contained in or materials omissions herein, and jointly and severally accept legal responsibility in this respect.
    2. All directors of the Company attended the Board meeting to review the quarterly report.
    3. Zhang Jingquan (the person-in-charge of the Company), Lv Guiliang (the person-in- charge of accounting affairs) and Ning Yu (the person responsible for the accounting institute, i.e., accounting chief), warrant that the financial statements set out in this quarterly report are true, accurate and complete.
    4. The first quarterly report of the Company has not been audited.

- 1 -

II.

BASIC CORPORATE INFORMATION

2.1 Major financial data

Unit: yuan 

Currency: RMB

Change from the end

At the end of the

of last year

reporting period

At the end of last year

(%)

Total assets

86,571,957,275.35

85,559,604,037.31

1.18

Net assets attributable to shareholders of the Company

34,142,317,171.45

33,061,024,912.46

3.27

From the beginning

From the beginning of

of this year to the last year to the end of

end of the reporting

the reporting period

Change from the same

period

of last year

period last year (%)

Net cash flows from operating activities

802,676,491.45

1,368,586,379.19

-41.35

Operating revenue

9,889,951,179.82

7,153,973,419.24

38.24

Net profit attributable to shareholders of the Company

1,039,722,796.46

504,291,283.93

106.18

Net profit after non-recurring profit and loss attributable

to shareholders of the Company

1,082,446,911.44

510,394,799.78

112.08

Increased by 1.66

Weighted average return on net assets (%)

3.08

1.42

percentage points

Basic earnings per share (RMB/share)

0.32

0.15

113.33

- 2 -

Items of non-recurring profit and loss and relevant amounts

Unit: yuan 

Currency: RMB

Amount for the

Items

reporting period

Gains or losses from disposal of non-current assets

63,381,523.51

Government subsidies included in profit or loss for the current

period, excluding those closely related to the normal business

operations of the Company and of fixed amount or fixed quantity

granted on an on-going basis in accordance with certain standards

and in compliance with the State policies

4,629,198.52

Profits or losses on change in fair value from financial assets held

for trading, derivative financial assets, financial liabilities held for

trading and derivative financial liabilities, as well as investment

income from disposal of financial assets held for trading,

derivative financial assets, financial liabilities held for trading,

derivative financial liabilities and other debt investments except

for effective hedging activities related with normal business

operations of the Company

-109,517,188.51

Non-operating income and expenses other than the above items

3,443,268.73

Impact on minority interests (after taxation)

-14,947,433.48

Impact on income tax

10,286,516.25

Total

-42,724,114.98

- 3 -

2.2 Total number of shareholders, the shareholdings of the top ten shareholders and the top ten circulating shareholders (or shareholders not subject to selling restrictions) as at the end of the reporting period

Unit: Share

Total number of shareholders (household)

71,498

Shareholdings of Top Ten Shareholders

Number of shares

Pledged or frozen shares

held at the end

Number of shares

of the reporting

Percentage

held subject to

Nature of

Name of shareholder (in full name)

period

(%)

selling restrictions

Condition

Number

shareholder

Inner Mongolia Yitai Group Co., Ltd.

1,600,000,000

49.17

1,600,000,000

Nil

-

Domestic non-state-

owned legal person

HKSCC NOMINEES LIMITED

325,958,800

10.02

-

Unknown

-

Foreign legal person

Yitai Group (Hong Kong) Co., Ltd.

312,000,000

9.59

-

Nil

-

Foreign legal person

China Merchants Securities (HK) Co.,

22,816,200

0.70

-

Unknown

-

Foreign legal person

Limited

VANGUARD TOTAL INTERNATIONAL

16,628,466

0.51

-

Unknown

-

Foreign legal person

STOCK INDEX FUND

VANGUARD EMERGING MARKETS

14,562,596

0.45

-

Unknown

-

Foreign legal person

STOCK INDEX FUND

Hu Jiaying

11,817,433

0.36

-

Unknown

-

Domestic natural

person

UBS AG LONDON BRANCH

10,359,305

0.32

-

Unknown

-

Foreign legal person

ISHARES CORE MSCI EMERGING

9,769,495

0.30

-

Unknown

-

Foreign legal person

MARKETS ETF

Liu Jingyuan

8,277,050

0.25

-

Unknown

-

Domestic natural

person

- 4 -

Shareholdings of Top Ten Shareholders Not Subject to Selling Restrictions

Number of shares held

Class and number of shares

not subject to selling

Name of shareholder

restrictions

Class

Number

HKSCC NOMINEES LIMITED

325,958,800

Overseas listed foreign

325,958,800

shares

Yitai Group (Hong Kong) Co., Ltd.

312,000,000

Domestic listed foreign

312,000,000

shares

China Merchants Securities (HK) Co., Limited

22,816,200

Domestic listed foreign

22,816,200

shares

VANGUARD TOTAL INTERNATIONAL STOCK INDEX

16,628,466

Domestic listed foreign

16,628,466

FUND

shares

VANGUARD EMERGING MARKETS STOCK INDEX

14,562,596

Domestic listed foreign

14,562,596

FUND

shares

Hu Jiaying

11,817,433

Domestic listed foreign

11,817,433

shares

UBS AG LONDON BRANCH

10,359,305

Domestic listed foreign

10,359,305

shares

ISHARES CORE MSCI EMERGING MARKETS ETF

9,769,495

Domestic listed foreign

9,769,495

shares

Liu Jingyuan

8,277,050

Domestic listed foreign

8,277,050

shares

BANK JULIUS BAER & CO. LTD

7,108,416

Domestic listed foreign

7,108,416

shares

Details of the above shareholders who are related to each other or acting in concert

Among the top ten shareholders of the Company, Yitai Group (Hong Kong) Co., Ltd. is a wholly-owned subsidiary of Inner Mongolia Yitai Group Co., Ltd., a holder of domestic legal person shares. The Company is not aware of whether there are other holders of foreign shares who are related to each other or acting in concert.

Details of the preference shareholders whose voting rights

N/A

have been restored and the number of shares held

Note: The H shares held by HKSCC NOMINEES LIMITED are held on behalf of its multiple clients.

2.3 Total number of holders of preference shares and shareholdings of the top ten holders of preference shares and top ten holders of preference shares not subject to selling restrictions as at the end of the reporting period

N/A

- 5 -

  1. SIGNIFICANT EVENTS
    3.1 Particulars and reasons of material changes in major accounting items and financial indicators of the Company
    As at the end of the reporting period, the Company produced an aggregate of 9.6174 million tonnes of coal, representing a decrease of 6.82% from the same period of last year. The Company sold 17.2308 million tonnes of coal, representing an increase of 12.47% from the same period of last year. In particular, coal sold via railway transportation amounted to 12.3324 million tonnes and coal sold at local coal mines and transportation stations amounted to 4.8984 million tonnes. The Company achieved an operating revenue of RMB9,889.9512 million, representing an increase of 38.24% from the same period of last year, and net profit attributable to the owners of the parent company of RMB1,039.7228 million, representing an increase of 106.18% from the same period of last year.

Unit: yuan  Currency: RMB

No.

Items

Closing balance

Opening balance

Change

Reasons of changes

(or balance of the

(or balance of the

(%)

current period)

previous period)

1

Financial assets held for

-

2,011,120.00

-100.00

Mainly attributable to the decrease in

trading

floating profits of futures holding

contracts at the end of the period;

2

Accounts receivable

1,695,922,673.38

1,280,175,866.98

32.48

Mainly attributable to the increase in

receivables for coal at the end of the

period;

3

Accounts receivable

7,436,582.70

2,071,600.00

258.98

Mainly attributable to the increase in

financing

bank acceptance bills with higher

credit rating at the end of the period;

4

Funds paid in advance

876,089,555.63

573,875,955.11

52.66

Mainly attributable to the increase in

project funds paid in advance and

transportation expense at the end of

the period;

5

Other receivables

1,293,390,977.77

502,459,431.63

157.41

Mainly attributable to the increase in

receivables from asset transfer at the

6

Financial liabilities

end of the period;

89,387,340.00

2,034,720.00

4,293.10

Mainly attributable to the increase

held for trading

in floating loss of futures holding

contracts at the end of the period;

7

Bills payable

824,289,868.35

1,296,438,553.80

-36.42

Mainly due to the decrease in bank

acceptance bills and commercial

acceptance bills payable at the end of

the period;

8

Staff remuneration

102,476,047.64

266,511,151.48

-61.55

Mainly attributable to the payment of

payable

last year's bonus during the current

period;

9

Other current liabilities

46,142,696.83

65,924,584.16

-30.01

Mainly attributable to the decrease in the

tax to be written off at the end of the

period;

- 6 -

No.

Items

Closing balance

Opening balance

Change

Reasons of changes

(or balance of the

(or balance of the

(%)

current period)

previous period)

10

Revenue from

9,889,951,179.82

7,153,973,419.24

38.24

Mainly attributable to the increase in

operations

sales volume and selling price of coal

during the current period;

11

Operating cost

7,027,137,392.78

4,850,211,918.84

44.88

Mainly attributable to the increase in

sales volume and procurement cost of

coal during the current period;

12

Other income

4,629,198.52

53,526,693.06

-91.35

Mainly attributable to the decrease in

government grant related to income

received during the current period;

13

Gains from changes in

-87,467,121.05

-23,283,215.89

275.67

Mainly due to the increase in floating

fair value

loss of futures during the current

period;

14

Gains from disposal of

64,013,408.63

4,452.16

1,437,705.66

Mainly attributable to the increase in

assets

asset disposals during the current

period;

15

Non-operating income

5,210,964.94

654,884.83

695.71

Mainly attributable to the increase in

receipt of liquidated damages for

futures delivery during the current

period;

16

Non-operating expense

2,399,581.33

31,325,307.01

-92.34

Mainly attributable to the increase in

public welfare donation expenses

during the previous period.

  1. Development of significant events, related impact and resolution N/A
  2. Undertaking matters which have passed the performance deadline and not yet performed during the reporting period
    N/A
  3. Warnings and explanations of any forecasted losses or significant changes to accumulated net profit from the beginning of the year to the end of the next reporting period or as compared to the corresponding period of last year
    N/A

- 7 -

IV. APPENDICES

4.1 Financial statement

Consolidated Balance Sheet 31 March 2021

Prepared by: Inner Mongolia Yitai Coal Co., Ltd.*

Unit: yuan 

Currency: RMB  Audit status: Unaudited

Items

31 March 2021

31 December 2020

Current assets:

Cash and bank balance

12,521,902,365.18

12,235,897,104.62

Financial assets held for trading

-

2,011,120.00

Accounts receivable

1,695,922,673.38

1,280,175,866.98

Accounts receivable financing

7,436,582.70

2,071,600.00

Funds paid in advance

876,089,555.63

573,875,955.11

Other receivables

1,293,390,977.77

502,459,431.63

Including: Interests receivable

-

-

Dividends receivable

60,000,000.00

60,000,000.00

Inventories

1,454,961,691.75

1,256,228,988.62

Other current assets

749,071,222.62

765,304,428.89

Total current assets

18,598,775,069.03

16,618,024,495.85

- 8 -

Items

31 March 2021

31 December 2020

Non-current assets:

Long-term equity investment

9,875,878,953.79

9,760,538,789.99

Investments in other equity instruments

7,260,085,088.06

7,257,982,731.72

Other non-current financial assets

1,602,614,125.27

1,571,136,033.21

Investment properties

680,849,404.05

690,286,105.94

Fixed assets

30,430,440,967.24

31,539,509,938.70

Construction in progress

11,322,546,661.15

11,264,401,667.07

Right-of-use assets

42,862,865.17

44,453,181.22

Intangible assets

3,197,181,440.33

3,234,890,864.17

Long-term deferred expenses

2,145,428,369.07

2,166,704,910.77

Deferred income tax assets

721,756,479.95

717,582,752.56

Other non-current assets

693,537,852.24

694,092,566.11

Total non-current assets

67,973,182,206.32

68,941,579,541.46

Total assets

86,571,957,275.35

85,559,604,037.31

Current liabilities:

Short-term borrowings

1,000,000,000.00

1,000,000,000.00

Financial liabilities held for trading

89,387,340.00

2,034,720.00

Bills payable

824,289,868.35

1,296,438,553.80

Accounts payable

2,032,394,433.34

2,164,149,682.62

Funds received in advance

1,001,756.60

2,155,213.74

Contract liabilities

360,530,438.71

507,734,000.67

Staff remuneration payable

102,476,047.64

266,511,151.48

Taxes payable

937,188,874.76

731,787,487.12

Other payables

1,424,301,649.18

1,379,398,220.73

Including: Interests payable

242,431,878.63

176,159,479.01

Dividends payable

Non-current liabilities due within one year

8,230,991,342.21

7,404,723,929.29

Other current liabilities

46,142,696.83

65,924,584.16

Total current liabilities

15,048,704,447.62

14,820,857,543.61

- 9 -

Items

31 March 2021

31 December 2020

Non-current liabilities:

Long-term borrowings

22,803,471,678.36

23,373,656,681.61

Bonds payable

2,443,587,153.83

2,429,992,674.65

Lease liabilities

8,279,261.98

9,795,893.40

Long-term payables

494,169,000.06

491,000,000.00

Estimated liabilities

617,239,549.10

612,897,208.93

Deferred income

76,471,544.66

76,635,745.32

Deferred income tax liabilities

631,440,029.61

631,131,366.95

Total non-current liabilities

27,074,658,217.60

27,625,109,570.86

Total liabilities

42,123,362,665.22

42,445,967,114.47

Owners' equity (or shareholders' equity):

Paid-in capital (or share capital)

3,254,007,000.00

3,254,007,000.00

Capital reserve

4,578,099,375.16

4,578,059,266.49

Other comprehensive income

1,091,626,019.73

1,089,867,679.40

Special reserve

231,025,446.78

191,254,433.25

Surplus reserve

1,634,024,476.72

1,634,024,476.72

Undistributed profit

23,353,534,853.06

22,313,812,056.60

Total equity attributable to owners of the parent company (or

shareholders' equity)

34,142,317,171.45

33,061,024,912.46

Minority interests

10,306,277,438.68

10,052,612,010.38

Total owners' equity (or shareholders' equity)

44,448,594,610.13

43,113,636,922.84

Total liabilities and owners' equity (or shareholders' equity)

86,571,957,275.35

85,559,604,037.31

Person-in-charge of

Person responsible for the

Legal Representative:

accounting affairs:

accounting institute:

Zhang Jingquan

Lv Guiliang

Ning Yu

- 10 -

Balance Sheet of the Parent Company

31 March 2021

Prepared by: Inner Mongolia Yitai Coal Co., Ltd.*

Unit: yuan 

Currency: RMB  Audit status: Unaudited

Items

31 March 2021

31 December 2020

Current assets:

Cash and bank balance

3,928,269,319.02

3,765,915,961.31

Accounts receivable

1,105,502,508.15

498,688,217.88

Financing receivables

-

10,000,000.00

Funds paid in advance

507,829,878.76

280,799,408.17

Other receivables

10,464,678,062.26

9,447,785,727.14

Including: Interest receivable

Dividends receivable

60,000,000.00

60,000,000.00

Inventories

715,710,489.46

630,455,486.32

Other current assets

7,559,425.61

7,264,020.66

Total current assets

16,729,549,683.26

14,640,908,821.48

Non-current assets:

Long-term equity investment

22,670,139,980.53

22,532,429,637.03

Investments in other equity instruments

5,805,377,809.58

5,803,275,453.24

Other non-current financial assets

12,159,778.32

12,159,778.32

Investment property

659,608,177.26

668,748,674.60

Fixed assets

3,096,363,717.85

3,629,888,170.18

Construction in progress

13,267,158.01

13,267,158.01

Intangible assets

774,671,459.23

782,485,888.12

Long-term deferred expenses

997,719,686.93

999,842,644.55

Deferred income tax assets

673,402,821.88

673,402,821.88

Total non-current assets

34,702,710,589.59

35,115,500,225.93

Total assets

51,432,260,272.85

49,756,409,047.41

- 11 -

Items

31 March 2021

31 December 2020

Current liabilities:

Short-term borrowings

1,000,000,000.00

1,000,000,000.00

Bills payable

81,955,955.84

124,886,677.55

Accounts payable

2,093,976,335.93

2,119,300,706.42

Funds received in advance

-

297,147.14

Contract liabilities

672,735,236.43

664,162,196.27

Staff remuneration payable

32,248,407.90

83,341,351.45

Taxes payable

555,092,744.29

320,178,784.26

Other payables

638,751,175.84

587,938,976.16

Including: Interest payable

215,933,434.67

138,106,051.03

Non-current liabilities due within one year

5,756,162,527.10

5,416,520,900.18

Other current liabilities

96,297,043.85

88,720,405.16

Total current liabilities

10,927,219,427.18

10,405,347,144.59

Non-current liabilities:

Long-term borrowings

10,850,700,000.00

10,294,700,000.00

Bonds payable

2,443,587,153.83

2,429,992,674.65

Long-term payables

3,169,000.06

-

Projected liabilities

468,445,848.88

464,179,701.60

Deferred income

1,677,499.97

1,734,999.98

Deferred income tax liabilities

479,605,764.74

479,080,175.65

Total non-current liabilities

14,247,185,267.48

13,669,687,551.88

Total liabilities

25,174,404,694.66

24,075,034,696.47

Owners' equity (or shareholders' equity):

Paid-in capital (or share capital)

3,254,007,000.00

3,254,007,000.00

Capital reserve

1,475,272,040.76

1,475,231,932.09

Other comprehensive income

1,008,382,945.59

1,006,806,178.34

Special reserve

109,437,182.23

92,717,922.90

Surplus reserve

1,634,024,476.72

1,634,024,476.72

Undistributed profit

18,776,731,932.89

18,218,586,840.89

Total owners' equity (or shareholders' equity)

26,257,855,578.19

25,681,374,350.94

Total liabilities and owners' equity (or shareholders' equity)

51,432,260,272.85

49,756,409,047.41

Person-in-charge of

Person responsible for the

Legal Representative:

accounting affairs:

accounting institute:

Zhang Jingquan

Lv Guiliang

Ning Yu

- 12 -

Consolidated Income Statement

January to March 2021

Prepared by: Inner Mongolia Yitai Coal Co., Ltd.*

Unit: yuan  Currency: RMB  Audit status: Unaudited

Items

The first quarter of 2021

The first quarter of 2020

I. Total operating revenue

9,889,951,179.82

7,153,973,419.24

Including: Revenue from operations

9,889,951,179.82

7,153,973,419.24

II. Total operating cost

8,330,210,516.82

6,216,724,509.58

Including: Operating cost

7,027,137,392.78

4,850,211,918.84

Business tax and surcharges

350,068,337.65

356,237,489.07

Selling expenses

266,137,864.15

285,714,305.77

Administrative expenses

248,776,449.69

279,520,248.83

Research and development costs

60,981,633.50

69,643,661.97

Finance costs

377,108,839.05

375,396,885.10

Including: Interest expenses

394,652,328.55

406,837,081.25

Interest income

18,583,532.92

28,543,335.00

Add: Other income

4,629,198.52

53,526,693.06

Investment income (loss is represented by "-")

72,970,495.52

62,731,545.68

Including: Gains from investment in associates and joint

ventures

94,165,655.12

59,274,968.20

Gains from changes in fair value (loss is represented by "-")

-87,467,121.05

-23,283,215.89

Asset impairments loss (loss is represented by "-")

-

366,003.00

Gains from disposal of assets (loss is represented by "-")

64,013,408.63

4,452.16

III. Profit from operations (loss is represented by "-")

1,613,886,644.62

1,030,594,387.67

Add: Non-operating income

5,210,964.94

654,884.83

Less: Non-operating expense

2,399,581.33

31,325,307.01

IV. Total profit (total loss is represented by "-")

1,616,698,028.23

999,923,965.49

Less: Income tax expenses

328,768,551.80

266,223,186.84

V. Net profit (net loss is represented by "-")

1,287,929,476.43

733,700,778.65

(I) Classified on a going concern basis

1. Net profit from continuing operations (net loss is

represented by "-")

1,287,929,476.43

733,700,778.65

2. Net profit from discontinuing operations (net loss is

represented by "-")

-

-

(II) Classified according to the ownership

1. Net profit attributable to the shareholders of the parent

company (net loss is represented by "-")

1,039,722,796.46

504,291,283.93

2. Minority interests (net loss is represented by "-")

248,206,679.97

229,409,494.72

- 13 -

Items

The first quarter of 2021

The first quarter of 2020

VI. Net other comprehensive income after taxes

1,758,340.33

8,559,214.40

(I) Net other comprehensive income attributable to owners of the

parent company after taxes

1,758,340.33

8,559,214.40

1. Other comprehensive income that cannot be reclassified to

profit and loss

1,576,767.25

8,111,380.00

(1) Remeasuring changes of defined benefit plan

-

-

(2) Other comprehensive income that cannot be converted

into profit or loss under the equity method

-

-

(3) Changes in fair value of other equity instrument

investments

1,576,767.25

8,111,380.00

(4) Changes in fair value of enterprise's own credit risk

-

-

2. Other comprehensive income that may be reclassified to

profit or loss

181,573.08

447,834.40

(1) Exchange differences from retranslation of financial

statements

181,573.08

447,834.40

(II) Net other comprehensive income attributable to minority

interests after taxes

-

-

VII. Total comprehensive income

1,289,687,816.76

742,259,993.05

(I) Total comprehensive income attributable to the owners of the

parent company

1,041,481,136.79

512,850,498.33

(II) Total comprehensive income attributable to minority

shareholders

248,206,679.97

229,409,494.72

VIII. Earnings per share:

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

0.32

0.15

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

-

-

For the business combination under common control during the period, the net profit realised by the merged party before the merger was RMB0, and the net profit realised by the merged party in the previous period was RMB0.

Person-in-charge of

Person responsible for the

Legal Representative:

accounting affairs:

accounting institute:

Zhang Jingquan

Lv Guiliang

Ning Yu

- 14 -

Income Statement of the Parent Company

January to March 2021

Prepared by: Inner Mongolia Yitai Coal Co., Ltd.*

Unit: yuan 

Currency: RMB  Audit status: Unaudited

Items

The first quarter of 2021

The first quarter of 2020

I. Revenue from operations

7,545,734,608.74

5,475,456,104.87

Less: Operating cost

6,456,365,270.20

4,510,721,683.86

Business tax and surcharges

175,056,146.23

236,663,821.74

Selling expenses

33,149,411.54

28,022,631.12

Administrative expenses

128,191,696.99

175,575,092.01

Research and development costs

545,769.77

26,876,554.04

Finance costs

155,668,828.47

246,197,118.77

Of which: Interest expenses

163,408,929.52

264,693,424.32

Interest income

6,914,351.57

16,777,019.49

Add: Other income

985,370.11

63,175.14

Investment income (loss is represented by "-")

91,201,234.82

62,601,217.25

Of which: Gains from investment in associates and joint

ventures

92,670,234.83

60,615,168.57

Gains from changes in fair value (loss is

represented by "-")

-

1,118,020.00

Gains from disposal of assets (loss is represented

by "-")

24,388,823.56

4,030.79

II. Profit from operations (loss is represented by "-")

713,332,914.03

315,185,646.51

Add: Non-operating income

1,638,125.02

352,064.60

Less: Non-operating expense

1,667,661.32

31,240,787.34

III. Total profit (total loss is represented by "-")

713,303,377.73

284,296,923.77

Less: Income tax expenses

155,158,285.73

55,640,933.80

IV. Net profit (net loss is represented by "-")

558,145,092.00

228,655,989.97

(I) Net profit from continuing operations (net loss is represented

by "-")

558,145,092.00

228,655,989.97

V. Net other comprehensive income after taxes

1,576,767.25

-1,768,620.00

(I) Other comprehensive income that cannot be reclassified to

profit or loss

1,576,767.25

-1,768,620.00

1. Remeasuring changes of defined benefit plan

-

-

2. Other comprehensive income that cannot be converted into

profit or loss under the equity method

-

-

3. Changes in fair value of other equity instrument

investments

1,576,767.25

-1,768,620.00

VI. Total comprehensive income

559,721,859.25

226,887,369.97

Person-in-charge of

Person responsible for the

Legal Representative:

accounting affairs:

accounting institute:

Zhang Jingquan

Lv Guiliang

Ning Yu

- 15 -

Consolidated Cash Flow Statement

January to March 2021

Prepared by: Inner Mongolia Yitai Coal Co., Ltd.*

Unit: yuan 

Currency: RMB  Audit status: Unaudited

The first quarter of

The first quarter of

Items

2021

2020

I. Cash flow from operating activities:

Cash received from sales of goods and provision of services

10,833,027,829.35

8,690,705,395.05

Refunds of taxes

90,614.37

57,804.45

Other cash received from activities related to operation

47,159,947.47

98,957,140.44

Sub-total of cash inflows from operating activities

10,880,278,391.19

8,789,720,339.94

Cash paid for goods purchased and service rendered

8,440,300,016.41

5,605,684,673.20

Cash paid to and on behalf of employees

427,929,329.58

633,971,263.27

Taxes paid

1,086,099,052.33

1,065,347,216.00

Other cash paid for activities relating to operation

123,273,501.42

116,130,808.28

Sub-total of cash outflow from operating activities

10,077,601,899.74

7,421,133,960.75

Net cash flows from operating activities

802,676,491.45

1,368,586,379.19

II. Cash flow from investment activities:

Cash received from reclaim of investments

455,990.70

6,674,527.28

Cash received from gains in investments

817,444.05

1,145,972.72

Net cash received from disposal of fixed assets, intangible assets and other

long-term assets

210,124,772.34

4,292.50

Other cash received relating to investment activities

23,972,127.01

87,720,460.00

Sub-total of cash inflow from investment activities

235,370,334.10

95,545,252.50

Cash paid for purchase of fixed assets, intangible assets and other long-term

assets

209,616,370.27

591,586,945.20

Cash paid for investment

51,134,400.00

106,208,000.00

Other cash paid for activities relating to investment

154,000,000.00

-

Sub-total of cash outflow from investment activities

414,750,770.27

697,794,945.20

Net cash flow from investment activities

-179,380,436.17

-602,249,692.70

- 16 -

The first quarter of

The first quarter of

Items

2021

2020

III. Cash flow from financing activities:

Proceeds received from investments

-

3,000,000.00

Of which: Proceeds received by subsidiaries from minority shareholder's

investment

-

3,000,000.00

Cash received from borrowings

1,232,660,582.00

2,900,000,000.00

Other cash received relating to financing activities

Sub-total of cash inflow from financing activities

1,232,660,582.00

2,903,000,000.00

Cash repayments of borrowing

957,204,798.36

4,400,704,427.57

Cash payments for dividend and profit distribution or interest repayment

314,854,740.02

421,065,831.42

Other cash paid relating to financing activities

16,428,555.90

669,000.00

Sub-total of cash outflow from financing activities

1,288,488,094.28

4,822,439,258.99

Net cash flow from financing activities

-55,827,512.28

-1,919,439,258.99

IV. Effect on cash and cash equivalents due to changes in foreign exchange

rates

-

-

V. Net increase in cash and cash equivalents

567,468,543.00

-1,153,102,572.50

Add: Balance of cash and cash equivalents at the beginning of the period

11,292,510,611.23

15,954,045,957.75

VI. Balance of cash and cash equivalents at the end of the period

11,859,979,154.23

14,800,943,385.25

Person-in-charge of

Person responsible for the

Legal Representative:

accounting affairs:

accounting institute:

Zhang Jingquan

Lv Guiliang

Ning Yu

- 17 -

Cash Flow Statement of the Parent Company

January to March 2021

Prepared by: Inner Mongolia Yitai Coal Co., Ltd.*

Unit: yuan 

Currency: RMB  Audit status: Unaudited

The first quarter of

The first quarter of

Items

2021

2020

I. Cash flow from operating activities:

Cash received from sales of goods and provision of services

8,013,047,823.62

6,305,199,861.11

Other cash received from activities related to operation

16,793,409.31

24,270,870.15

Sub-total of cash inflows from operating activities

8,029,841,232.93

6,329,470,731.26

Cash paid for goods purchased and service rendered

7,605,549,679.55

4,892,465,174.42

Cash paid to and on behalf of employees

140,911,128.57

214,156,478.15

Taxes paid

407,547,711.61

580,257,079.11

Other cash paid for activities relating to operation

41,329,766.04

64,685,870.10

Sub-total of cash outflow from operating activities

8,195,338,285.77

5,751,564,601.78

Net cash flows from operating activities

-165,497,052.84

577,906,129.48

II. Cash flow from investment activities:

Cash received from reclaim of investments

-

1,000,454,027.28

Cash received from gains in investments

-

1,145,972.72

Net cash received from disposal of fixed assets, intangible assets and other

long-term assets

208,576,557.34

4,292.50

Other cash received relating to investment activities

10,172,127.01

51,877,013.88

Sub-total of cash inflow from investment activities

218,748,684.35

1,053,481,306.38

Cash paid for purchase of fixed assets, intangible assets and other long-term

assets

47,229,256.97

280,939,837.07

Cash paid for investment

45,000,000.00

72,720,000.00

Other cash paid for activities relating to investment

577,300,000.00

1,354,796,729.39

Sub-total of cash outflow from investment activities

669,529,256.97

1,708,456,566.46

Net cash flow from investment activities

-450,780,572.62

-654,975,260.08

- 18 -

The first quarter of

The first quarter of

Items

2021

2020

III. Cash flow from financing activities:

Cash received from borrowings

1,000,000,000.00

3,900,000,000.00

Other cash received relating to financing activities

Sub-total of cash inflow from financing activities

1,000,000,000.00

3,900,000,000.00

Cash repayments of borrowing

99,000,000.00

3,449,000,000.00

Cash payments for dividend and profit distribution or interest repayment

140,477,964.88

207,840,022.24

Other cash paid relating to financing activities

-

12,000.00

Sub-total of cash outflow from financing activities

239,477,964.88

3,656,852,022.24

Net cash flow from financing activities

760,522,035.12

243,147,977.76

IV. Effect on cash and cash equivalents due to changes in foreign exchange

rates

-

-

V. Net increase in cash and cash equivalents

144,244,409.66

166,078,847.16

Add: Balance of cash and cash equivalents at the beginning of the period

3,676,155,738.44

7,677,710,776.41

VI. Balance of cash and cash equivalents at the end of the period

3,820,400,148.10

7,843,789,623.57

Person-in-charge of

Person responsible for the

Legal Representative:

accounting affairs:

accounting institute:

Zhang Jingquan

Lv Guiliang

Ning Yu

  1. Adjustments to financial statements at the beginning of the year upon initial adoption of the New Lease Standards from 2021
    N/A
  2. Notes on retrospective adjustments to the comparative figures of the previous period upon initial adoption of the New Lease Standards from 2021
    N/A

- 19 -

4.4 Audit report N/A

By order of the Board

Inner Mongolia Yitai Coal Co., Ltd.*

Zhang Jingquan

Chairman

Inner Mongolia, the PRC, 16 April 2021

As at the date of this announcement, the executive directors of the Company are Mr. Zhang Jingquan, Mr. Liu Chunlin, Mr. Ge Yaoyong, Mr. Zhang Dongsheng, Mr. Liu Jian, Mr. Lv Guiliang and Mr. Lv Junjie; and the independent non-executive directors of the Company are Mr. Zhang Zhiming, Mr. Huang Sujian, Mr. Wong Hin Wing and Ms. Du Yingfen.

*  For identification purpose only

- 20 -

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Inner Mongolia Yitai Coal Co. Ltd. published this content on 16 April 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 16 April 2021 15:05:01 UTC.