[三季报]招港B(201872):2026年三季度报告（英文版）

 时间：2026年10月29日 17:43:01 中财网

原标题:招港B:2026年三季度报告（英文版）

StockCode:001872/201872 StockName:CMPortGroup/CMPortGroupB AnnouncementNo.2026-055ChinaMerchantsPortGroupCo.,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,andshallbeindividuallyaswell
asjointlyandseverallyliableforanymisrepresentations,misleadingstatementsormaterialomissionstherein.2.XuSong,LegalRepresentative,HuangZhenzhou,ChiefFinancialOfficer,andLiuShixia,HeadofAccountingDepartment,herebyguaranteethatthefinancialstatementscarriedinthisReportarefactual,accurateandcomplete.
3.Indicatebytickmarkwhetherthefinancialstatementshereinhavebeenauditedbyanindependentauditor.□Yes√No
4.Matterswithmodifiedauditopinionsissuedbyindependentauditors□Applicable√Notapplicable
5.SecuritiesTimes,ChinaSecuritiesJournal,ShanghaiSecuritiesNews,andhttp://www.cninfo.com.cnhavebeendesignatedbytheCompanyforinformationdisclosure.AndallinformationabouttheCompanyshallbesubjecttowhatisdisclosedontheaforesaidmedia.
ThisReporthasbeenpreparedinbothChineseandEnglish.Shouldtherebeanydiscrepanciesormisunderstandingsbetweenthetwoversions,theChineseversionshallprevail.
IKeyFinancialInformation
(I)KeyAccountingDataandFinancialIndicators
Indicatebytickmarkwhetherthereisanyretrospectiveadjustmentorrestatementtoprior-yearfinancialstatements.
□Yes√No

　Q32026YoYchangeQ1-Q32026YoYchange
Totaloperatingincome (RMB)4,592,796,892.546.98%13,541,258,939.736.11%
Netprofitattributable toshareholdersofthe Company(RMB)1,387,667,396.5217.60%4,168,774,411.789.51%
Netprofitattributable toshareholdersofthe Companyafter deductingnon-1,192,028,397.393.11%3,914,967,012.336.54%
recurringprofitorloss (RMB)　　　　
Netcashinflowfrom operatingactivities (RMB)——5,753,682,992.367.88%
Basicearningsper share(RMB/share)0.5619.15%1.689.80%
Dilutedearningsper share(RMB/share)0.5619.15%1.689.80%
Weightedaverage returnonequity(%)2.11%0.24%6.36%Upby0.28 percentagepoint
　30September202631December2025Change　
Totalassets(RMB)208,028,532,342.90205,014,697,494.681.47%　
Equityattributableto shareholdersofthe Company(RMB)66,126,020,310.5164,365,829,932.202.73%　
ThetotalsharecapitalattheendofthelasttradingsessionbeforethedisclosureofthisReport:
Totalsharecapitalattheendofthelasttradingsession beforethedisclosureofthisReport(share)2,482,148,285
Dilutedearningspersharebasedonthelatesttotalsharecapitalabove:
Dilutedearningspersharebasedonthelatesttotal sharecapitalabove(RMB/share)1.6795
(II)Non-recurringProfitorLoss
Unit:RMB

ItemQ32026Q1-Q32026Note
Gainsorlossesondisposalofnon-current assets,includingthosechargedoffforwhich provisionforimpairmentofassetshasbeen made238,469,291.73235,327,798.40-
Governmentgrantsrecognizedinprofitor loss(otherthangrantswhicharecloselyto theCompany’snormalbusiness,inlinewith thenationalregulations,enjoyedunder establishedstandardsandhaveacontinuous impactontheCompany’sprofitorloss)2,891,938.2629,652,784.50-
Gainsorlossesfromchangesinfairvalueof financialassetsandfinancialliabilitiesheld bynon-financialenterprises,andgainsor lossesondisposaloffinancialassetsand financialliabilities,otherthaneffective hedgingoperationsrelatingtothe Company’snormalbusinessoperations26,283,936.76102,489,660.43-
Incomeearnedfromlendingfundstonon- financialinstitutionsandrecognizedin profitorloss23,502,774.9273,737,909.38-
Reversalofprovisionforaccounts receivablethataretestedforimpairment9,862,130.6712,905,017.95-
individually　　　
Lump-sumcostsincurredbytheenterprises asaresultofthediscontinuationofrelevant businessactivities,suchasemployee severanceexpenditures-14,553,764.78-54,415,705.78-
Othernon-operatingincomeorexpenses otherthanaboveitems-5,814,855.35-1,270,618.37-
Less:Incometaxeffects69,242,915.5593,353,112.96-
Effectsofnon-controllinginterests (aftertax)15,759,537.5351,266,334.10-
Total195,638,999.13253,807,399.45--
Othergainsandlossesthatmeetthedefinitionofnon-recurringgain/loss:?
Applicable√Notapplicable
Nosuchcases.
Explanationofthesituationwherethenon-recurringgainsandlossesitemslistedinInterpretativeAnnouncementNo.1ofCompaniesIssuingPubliclyTradedSecurities-Non-RecurringGainsandLossesareclassifiedasrecurringgainsandlossesitems:
?
Applicable√Notapplicable
During the Reporting Period, the Company did not classify any gain or loss item listed in Interpretative
AnnouncementNo.1ofCompaniesIssuingPubliclyTradedSecurities-Non-RecurringGainsandLossesasarecurringgainorlossitem.
(III)ChangesinKeyFinancialStatementLineItemsandTheirExplanationUnit:RMB

Balancesheetitems30September202631December2025ChangeExplanationofchanges
Billsreceivable55,446,574.03151,029,884.15-63.29%Mainlyduetothecollectionofbills receivableuponmaturity
Accountsreceivable2,308,731,463.541,297,166,857.7077.98%Mainlyduetothecyclicalinfluence ofpaymentcollection
Prepayments115,767,047.1382,819,198.9539.78%Mainlyduetotheincreaseinprepaid insurancepremiumsandmaterial payments
Othercurrentassets209,474,070.01158,947,975.1731.79%Mainlyduetotheincreaseinprepaid incometaxanddeductibleinputVAT
Investmentsinotherequity instruments1,228,471,589.70141,766,365.15766.55%Mainlyduetotheeffectresulting fromtheremeasurementoflong-term equityinvestmentinAntong Holdingsinthecurrentperiod,which waschangedfromequitymethod accountingtofinancialassetsatfair valuethroughothercomprehensive income
Otherpayables3,322,627,424.912,034,923,078.9563.28%Mainlyduetotheincreasein dividendspayable
Non-currentliabilitiesdue withinoneyear8,216,671,463.116,042,522,685.3335.98%Mainlyduetotheincreaseinbonds payableduewithinoneyear
Othercurrentliabilities5,652,163,595.402,199,301,417.02157.00%Mainlyduetotheincreaseinshort- termcommercialpaperspayable
IncomestatementitemsQ1-Q32026Q1-Q32025ChangeExplanationofchanges
Otherincome66,976,054.46142,769,198.68-53.09%Mainlyduetothedecreasein governmentgrantsreceived
CashflowstatementitemsQ1-Q32026Q1-Q32025ChangeExplanationofchanges
Refundoftaxes108,715,913.9427,372,611.32297.17%Mainlyduetotheincreaseinrefund oftaxesreceivedbysubsidiaries
Proceedsfromdisposalof investments45,366,359,482.9532,059,800,000.0041.51%Mainlyduetotheincreased redemptionofstructureddeposits uponmaturity
Proceedsfromotherinvesting activities89,246,686.79236,053,508.82-62.19%Mainlybecausesubsidiariescollected seaareausagefeesforthe governmentinthesameperiodoflast year,withnosuchfeescollectedin thecurrentperiod
Paymentforacquisitionoffixed assets,intangibleassetsand otherlong-termassets1,178,460,173.321,758,375,692.67-32.98%Mainlyduetothedecreasedpayment foracquisitionoffixedassets, intangibleassetsandotherlong-term assetsinthecurrentperiod
Paymentforacquisitionof investments45,334,751,040.0031,206,806,292.7245.27%Mainlyduetotheincreasedpurchase ofstructureddepositsinthecurrent period
Proceedsfromborrowings13,510,046,776.3520,602,253,184.78-34.42%Mainlyduetothedecreasein borrowingsobtainedinthecurrent period
Proceedsfromotherfinancing activities10,888,371.19258,621,517.54-95.79%Mainlyduetotheadvancepayment receivedbysubsidiariesfrom minorityshareholdersandreceipts underfinanceleasesinthesame periodoflastyear,withnosuch mattersinthecurrentperiod
Repaymentsofborrowings13,641,221,802.6923,708,226,435.63-42.46%Mainlyduetothedecreaseindebt repaidinthecurrentperiod
Paymentforotherfinancing activities413,200,460.29649,854,745.80-36.42%Mainlyduetothepaymentforshare repurchasesinthesameperiodoflast year,withnosuchmattersinthe currentperiod
IIUseofRaisedFunds
□Applicable√Notapplicable
NosuchcasesintheReportingPeriod.
IIIShareholderInformation
(I)NumbersofOrdinaryShareholdersandPreferredShareholderswithResumedVotingRightsaswellasHoldingsofTop10Shareholders
Unit:share

　28,459(18,944A-shareholders and9,515B-shareholders)Numberofpreferredshareholderswithresumed votingrightsattheperiod-end(ifany)0　　　
　　　　　　　
　Natureof shareholderShareho lding percent ageTotalshares heldRestricted shares heldSharesinpledge,markedor frozen　
　　　　　StatusShares
　Overseas legalperson46.28%1,148,648,6480-0
ZhejiangProvincialSeaport Investment&OperationGroupCo., Ltd.State-owned legalperson23.23%576,709,5370-0
ChinaMerchantsGangtong Development(Shenzhen)Co.,Ltd.State-owned legalperson14.94%370,878,0000-0
ShenzhenInfrastructureInvestment FundManagementCo.,Ltd.- ShenzhenInfrastructureInvestment FundPartnership(Limited Partnership)Fundand wealth management productsetc.2.61%64,850,1820-0
BroadfordGlobalLimitedState-owned legalperson2.23%55,314,2080-0
China-AfricaDevelopmentFundState-owned legalperson0.63%15,610,3680-0
HongKongSecuritiesClearing CompanyLtd.Overseas legalperson0.50%12,483,1610-0
ZouYanminDomestic natural person0.36%9,037,8530-0
　Fundand wealth management productsetc.0.27%6,797,4870-0
　Overseas legalperson0.24%5,959,7590-0
　　　　　　　
　UnrestrictedsharesheldSharesbytype　　　　
　　TypeShares　　　
　1,148,648,648RMBordinary share1,148,648,648　　　

ZhejiangProvincialSeaportInvestment&Operation GroupCo.,Ltd.576,709,537RMBordinary share576,709,537
ChinaMerchantsGangtongDevelopment (Shenzhen)Co.,Ltd.370,878,000RMBordinary share370,878,000
ShenzhenInfrastructureInvestmentFund ManagementCo.,Ltd.-ShenzhenInfrastructure InvestmentFundPartnership(LimitedPartnership)64,850,182RMBordinary share64,850,182
BroadfordGlobalLimited55,314,208Domestically listedforeign share55,314,208
China-AfricaDevelopmentFund15,610,368RMBordinary share15,610,368
HongKongSecuritiesClearingCompanyLtd.12,483,161RMBordinary share12,483,161
ZouYanmin9,037,853Domestically listedforeign share9,037,853
PICCPropertyAndCasualtyCompanyLimited－ Traditional-GeneralInsuranceProduct MonetaryAuthorityofMacao－OwnFunds6,797,487RMBordinary share6,797,487
　5,959,759RMBordinary share5,959,759
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,top10shareholdersandTop10unrestrictedshareholdersinvolvedinrefinancingshares
lending
?Applicable√Notapplicable
Changesintop10shareholdersandtop10unrestrictedshareholdersduetorefinancingshareslending/returncomparedwiththepriorperiod
?Applicable√Notapplicable
(II)NumberofPreferredShareholdersandShareholdingsofTop10ofThem□Applicable√Notapplicable
IVOtherSignificantEvents
□Applicable√Notapplicable
VQuarterlyFinancialStatements
(I)FinancialStatements
1.ConsolidatedBalanceSheet
PreparedbyChinaMerchantsPortGroupCo.,Ltd.
30September2026
Unit:RMB

Item30September20261January2026
Currentassets:　　
Cashandbankbalances17,031,333,485.0315,374,846,360.79
Settlementreserve　　
Interbankloansgranted　　
Financialassetsheldfortrading7,564,136,575.937,578,824,365.75
Derivativefinancialassets　　
Billsreceivable55,446,574.03151,029,884.15
Accountsreceivable2,308,731,463.541,297,166,857.70
Receivablesunderfinancing113,856,737.57114,680,738.25
Prepayments115,767,047.1382,819,198.95
Premiumsreceivable　　
Reinsurancereceivables　　
Receivablereinsurancecontract reserve　　
Otherreceivables938,799,365.721,012,655,278.64
Including:Interestreceivable　　
Dividendsreceivable508,674,649.44576,943,449.36
Purchasedandresoldfinancialassets　　
Inventories302,912,956.50307,216,425.15
Including:Dataresources　　
Contractassets　　
Assetsheldforsale　　
Non-currentassetsduewithinoneyear539,722.23　
Othercurrentassets209,474,070.01158,947,975.17
Totalcurrentassets28,640,997,997.6926,078,187,084.55
Non-currentassets:　　
Loansandadvancestocustomers　　
Investmentsindebtobligations　　
Investmentsinotherdebtobligations　　
Long-termreceivables3,978,935,564.083,874,516,647.46
Long-termequityinvestments104,133,496,209.88103,073,100,064.87
Investmentsinotherequity instruments1,228,471,589.70141,766,365.15
Othernon-currentfinancialassets28,768,810.9528,768,810.95
Investmentproperties3,062,796,935.853,157,951,323.78
Fixedassets29,067,830,150.5030,442,884,297.82
Constructioninprogress4,161,535,890.823,403,583,431.48
Productivelivingassets　　
Oilandgasassets　　
Right-of-useassets8,414,902,537.658,965,304,928.17
Intangibleassets16,961,120,441.8817,643,855,579.95
Including:Dataresources5,140,802.265,616,273.79
Developmentcosts32,223,927.5134,234,599.73
Including:Dataresources　　
Goodwill6,229,906,020.596,176,416,050.77
Long-termdeferredexpenses859,256,967.38919,719,245.18
Deferredtaxassets340,815,973.94355,487,521.84
Othernon-currentassets887,473,324.48718,921,542.98
Totalnon-currentassets179,387,534,345.21178,936,510,410.13
Totalassets208,028,532,342.90205,014,697,494.68
Currentliabilities:　　
Short-termborrowings19,373,332,510.1219,775,820,831.32
Borrowingsfromthecentralbank　　
Interbankloansobtained　　
Financialliabilitiesheldfortrading　　
Derivativefinancialliabilities　　
Billspayable　　
Accountspayable693,903,356.34739,900,492.35
Advancepaymentsreceived9,023,792.6112,191,454.52
Contractliabilities552,326,700.09446,822,948.79
Financialassetssoldunderrepurchase agreements　　
Customerdepositsandinterbank deposits　　
Payablesforactingtradingof securities　　
Payablesforunderwritingofsecurities　　
Employeebenefitspayable1,263,078,062.851,297,834,679.20
Taxespayable1,097,535,957.96913,284,472.54
Otherpayables3,322,627,424.912,034,923,078.95
Including:Interestpayable　　
Dividendspayable1,136,733,537.11135,169,470.79
Handlingchargesandcommissions payable　　
Reinsurancepayables　　
Liabilitiesheldforsale　　
Non-currentliabilitiesduewithinone year8,216,671,463.116,042,522,685.33
Othercurrentliabilities5,652,163,595.402,199,301,417.02
Totalcurrentliabilities40,180,662,863.3933,462,602,060.02
Non-currentliabilities:　　
Insurancecontractreserve　　
Long-termborrowings5,334,026,182.737,439,956,123.50
Bondspayable16,236,834,883.9320,709,787,532.29
Including:Preferenceshares　　
Perpetualbonds　　
Leaseliabilities1,611,743,640.571,690,860,832.08
Long-termpayables3,601,004,587.093,721,605,292.07
Long-termemployeebenefitspayable522,277,874.62546,386,377.62
Provisions237,192,297.70185,493,182.45
Deferredincome879,327,352.71923,349,449.41
Deferredtaxliabilities5,021,125,580.714,869,165,969.03
Othernon-currentliabilities160,926,107.03164,442,477.36
Totalnon-currentliabilities33,604,458,507.0940,251,047,235.81
Totalliabilities73,785,121,370.4873,713,649,295.83
Shareholders’equity:　　
Sharecapital2,482,148,285.002,481,842,185.00
Otherequityinstruments　　
Including:Preferredshares　　
Perpetualbonds　　
Capitalreserve36,926,652,509.1236,816,586,615.98
Less:Treasuryshares　　
Othercomprehensiveincome-1,028,661,276.11-969,163,426.51
Specificreserve77,486,610.0957,278,650.39
Surplusreserve1,249,537,330.501,249,537,330.50
Generalreserve　　
Retainedearnings26,418,856,851.9124,729,748,576.84
Totalequityattributabletoshareholders oftheCompany66,126,020,310.5164,365,829,932.20
Non-controllinginterests68,117,390,661.9166,935,218,266.65
Totalshareholders’equity134,243,410,972.42131,301,048,198.85
Totalliabilitiesandshareholders’equity208,028,532,342.90205,014,697,494.68
LegalRepresentative:XuSong
ChiefFinancialOfficer:HuangZhenzhou
HeadofAccountingDepartment:LiuShixia
2.ConsolidatedIncomeStatementforQ1-Q3
Unit:RMB

ItemQ1-Q32026Q1-Q32025
1.Totaloperatingincome13,541,258,939.7312,761,718,577.69
Including: Operatingincome13,541,258,939.7312,761,718,577.69
Interestincome　　
Premiumincome　　
Handlingchargeandcommissionincome　　
2.Totaloperatingcosts9,765,101,055.349,651,169,282.99
Including: Operatingcosts7,191,847,478.337,025,113,831.96
Interestexpense　　
Handlingchargeandcommissionexpense　　
Surrenders　　
Netclaimspaid　　
Netamountprovidedaspolicyreserve　　
Expenditureonpolicydividends　　
Reinsurancepremiumexpense　　
Taxesandsurcharges310,361,104.55261,910,372.07
Sellinganddistributionexpenses　　
Generalandadministrativeexpenses1,153,117,194.201,131,791,808.52
Researchanddevelopmentexpenses133,884,548.96133,679,811.72
Financialexpenses975,890,729.301,098,673,458.72
Including:Interestexpenses1,328,317,597.141,412,059,197.32
Interestincome296,473,591.18279,493,102.17
Add:Otherincome66,976,054.46142,769,198.68
Investmentincome("-"forlosses)5,455,652,398.465,222,699,354.59
Including:Incomefrominvestmentsin associatesandjointventures5,385,040,407.965,170,470,933.55
Incomearisingfromthe derecognitionoffinancialassets measuredatamortizedcost　　
Foreignexchangegain("-"forlosses)　　
Netexposurehedgingincome(“-”forlosses)　　
Gainsfromchangesinfairvalue("-"forlosses)31,997,919.1829,806,324.64
Reversalofcreditimpairment7,697,102.125,339,696.89
Impairmentlosses("-"forlosses)　1,614.26
Gainsfromassetdisposals("-"forlosses)8,496,854.376,697,124.45
3.Operatingprofit9,346,978,212.988,517,862,608.21
Add:Non-operatingincome21,614,156.7836,169,262.72
Less:Non-operatingexpenses32,131,476.5920,226,678.15
4.Profitbeforeincometax9,336,460,893.178,533,805,192.78
Less:Incometaxexpenses1,396,479,163.441,070,350,492.85
5.Netprofit7,939,981,729.737,463,454,699.93
5.1Netprofitclassifiedbycontinuityofoperations　　
5.1.1Netprofitfromcontinuingoperation7,939,981,729.737,463,454,699.93
5.1.2Netprofitfromdiscontinuedoperation　　
5.2Netprofitclassifiedbyownership　　
5.2.1AttributabletoshareholdersoftheCompany4,168,774,411.783,806,626,280.80
5.2.2Non-controllinginterests3,771,207,317.953,656,828,419.13
6.Othercomprehensiveincome,netoftax-465,787,984.981,618,344,929.43
Othercomprehensiveincome(netoftax)attributable toshareholdersoftheCompany-59,497,849.60631,635,570.62
6.1Itemsthatwillnotbereclassifiedtoprofitorloss-83,423,277.543,719,262.13
6.1.1Remeasurementofdefinedbenefitplan　　
6.1.2Othercomprehensiveincomerecognised undertheequitymethod-12,225,349.043,719,262.13
6.1.3Changesinfairvalueofinvestmentsinother equityinstruments-71,197,928.50　
6.1.4Changesinfairvalueofentity’sowncredit risk　　
6.1.5Others　　
6.2Itemsthatwillbereclassifiedtoprofitorloss23,925,427.94627,916,308.49
6.2.1Othercomprehensiveincomerecognised undertheequitymethod-31,142,216.68228,729,223.96
6.2.2Changesinfairvalueofotherdebt investments　　
6.2.3Amountoffinancialassetsreclassifiedinto othercomprehensiveincome　　
6.2.4Creditlossesofotherdebtinvestments　　
6.2.5Cashflowhedgereserve　　
6.2.6Translationdifferencesarisingfromtranslation55,067,644.62399,187,084.53
offoreigncurrencyfinancialstatements　　
6.2.7Others　　
Othercomprehensiveincome(netoftax)attributable tonon-controllinginterests-406,290,135.38986,709,358.81
7.Totalcomprehensiveincome7,474,193,744.759,081,799,629.36
7.1AttributabletoshareholdersoftheCompany4,109,276,562.184,438,261,851.42
7.2Attributabletonon-controllinginterests3,364,917,182.574,643,537,777.94
8.Earningspershare　　
8.1Basicearningspershare(RMB/share)1.681.53
8.2Dilutedearningspershare(RMB/share)1.681.53
3.ConsolidatedCashFlowStatementforQ1-Q3
Unit:RMB

ItemQ1-Q32026Q1-Q32025
1.Cashflowsfromoperatingactivities:　　
Proceedsfromsaleofgoodsand renderingofservices13,139,023,409.9912,202,004,933.08
Netincreaseincustomerdepositsand interbankdeposits　　
Netincreaseinborrowingsfromthe centralbank　　
Netincreaseinloansfromother financialinstitutions　　
Premiumsreceivedonoriginal insurancecontracts　　
Netproceedsfromreinsurance　　
Netincreaseindepositsand investmentsofpolicyholders　　
Interest,handlingchargesand commissionsreceived　　
Netincreaseininterbankloans obtained　　
Netincreaseinproceedsfrom repurchasetransactions　　
Netproceedsfromactingtradingof securities　　
Refundoftaxes108,715,913.9427,372,611.32
Proceedsfromotheroperating activities471,633,784.16582,892,459.80
Sub-totalofcashinflows13,719,373,108.0912,812,270,004.20
Paymentforgoodsandservices3,243,633,510.773,164,118,721.59
Netincreaseinloansandadvancesto customers　　
Netincreaseindepositsinthecentral bankandininterbankloansgranted　　
Paymentforclaimsonoriginal insurancecontracts　　
Netincreaseininterbankloansgranted　　
Interest,handlingchargesand commissionspaid　　
Policydividendspaid　　
Paymenttoandforemployees2,808,967,461.832,684,716,615.98
Paymentofvarioustaxes1,465,496,893.371,139,051,249.09
Paymentforotheroperatingactivities447,592,249.76490,938,782.80
Sub-totalofcashoutflows7,965,690,115.737,478,825,369.46
Netcashinflowfromoperatingactivities5,753,682,992.365,333,444,634.74
2.Cashflowsfrominvestingactivities:　　
Proceedsfromdisposalofinvestments45,366,359,482.9532,059,800,000.00
Investmentreturnsreceived2,724,008,963.692,697,872,122.77
Netproceedsfromdisposaloffixed assets,intangibleassetsandother long-termassets6,282,861.7397,172,565.98
Netproceedsfromdisposalof subsidiariesandotherbusinessunits　　
Proceedsfromotherinvesting activities89,246,686.79236,053,508.82
Sub-totalofcashinflows48,185,897,995.1635,090,898,197.57
Paymentforacquisitionoffixed assets,intangibleassetsandother long-termassets1,178,460,173.321,758,375,692.67
Paymentforacquisitionof investments45,334,751,040.0031,206,806,292.72
Netincreaseinpledgedloansgranted　　
Netpaymentforacquisitionof subsidiariesandotherbusinessunits　13,009,257.22
Paymentforotherinvestingactivities135,325,604.88168,789,076.73
Sub-totalofcashoutflows46,648,536,818.2033,146,980,319.34
Netcashinflowfrominvestingactivities1,537,361,176.961,943,917,878.23
3.Cashflowsfromfinancingactivities:　　
Proceedsfrominvestors4,720,264.215,247,961.40
Including:Proceedsfromnon- controllingshareholdersof subsidiaries　　
Proceedsfromborrowings13,510,046,776.3520,602,253,184.78
Proceedsfromotherfinancing10,888,371.19258,621,517.54
activities　　
Sub-totalofcashinflows13,525,655,411.7520,866,122,663.72
Repaymentsofborrowings13,641,221,802.6923,708,226,435.63
Paymentfordividends,profits distributionsorinterest4,818,934,850.345,393,986,448.69
Including:Dividendsandprofits paidtonon-controllingshareholders ofsubsidiaries1,719,893,758.852,213,945,514.67
Paymentforotherfinancingactivities413,200,460.29649,854,745.80
Sub-totalofcashoutflows18,873,357,113.3229,752,067,630.12
Netcashoutflowfromfinancing activities-5,347,701,701.57-8,885,944,966.40
4.Effectofforeignexchangerate changesoncashandcashequivalents-241,111,623.9427,681,072.81
5.Netincreaseincashandcash equivalents1,702,230,843.81-1,580,901,380.62
Add:Cashandcashequivalentsatthe beginningoftheyear15,244,357,662.0416,515,069,554.91
6.Cashandcashequivalentsattheend oftheperiod16,946,588,505.8514,934,168,174.29
(II)AdjustmentstoFinancialStatementItemsattheBeginningoftheYearoftheFirstImplementationoftheNewAccountingStandardsImplementedsince2026□Applicable√Notapplicable（未完）
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