[Important Notice](index=3&type=section&id=Important%20Notice) This section confirms the authenticity and integrity of the quarterly report and its financial statements [Report Authenticity Guarantee](index=3&type=section&id=1.1%20报告真实性保证) The company's management confirms the truthfulness, accuracy, and completeness of the quarterly report and its financial statements - Management confirmed the truthfulness, accuracy, and completeness of the Q3 2019 report[4](index=4&type=chunk) - This quarterly report is unaudited[5](index=5&type=chunk) [Company Overview](index=3&type=section&id=Company%20Overview) This section provides key financial performance indicators and details of major shareholders as of the reporting period [Key Financial Data](index=3&type=section&id=2.1%20主要财务数据) As of Q3 2019, total assets decreased slightly, while operating revenue saw marginal growth and net profit attributable to shareholders increased Key Financial Data for Q1-Q3 2019 | Indicator | Q1-Q3 2019 | Q1-Q3 2018 | Year-on-Year Change (%) | | :--- | :--- | :--- | :--- | | Operating Revenue | 55,854,565,973.46 Yuan | 55,743,017,047.66 Yuan | 0.20% | | Net Profit Attributable to Shareholders | 2,117,314,530.86 Yuan | 1,937,997,873.37 Yuan | 9.25% | | Net Profit Attributable to Shareholders (Excluding Non-recurring Items) | 1,851,125,301.39 Yuan | 1,568,902,246.70 Yuan | 17.99% | | Net Cash Flow from Operating Activities | -170,771,090.96 Yuan | -156,228,879.98 Yuan | Not Applicable | | Basic Earnings Per Share (Yuan/share) | 0.2920 | 0.3204 | -8.86% | | Weighted Average Return on Net Assets (%) | 7.90% | 8.81% | Decrease of 0.91 percentage points | Non-recurring Gains and Losses (Year-to-Date) | Item | Amount (Yuan) | | :--- | :--- | | Gains/Losses from Disposal of Non-current Assets | 139,217,269.44 | | Government Subsidies Included in Current Profit/Loss | 111,854,469.76 | | Other Non-operating Income and Expenses | 30,124,423.25 | | Total | 266,189,229.47 | [Shareholder Information](index=5&type=section&id=2.2%20股东情况) The company has 85,065 shareholders, with China Merchants Group Logistics and HKSCC NOMINEES LIMITED as major holders Top Ten Shareholders' Holdings | Shareholder Name | Number of Shares Held | Proportion (%) | | :--- | :--- | :--- | | China Merchants Group Logistics Co., Ltd. | 2,461,596,200 | 33.26 | | HKSCC NOMINEES LIMITED | 2,107,465,449 | 28.48 | | China Merchants Group Co., Ltd. | 1,600,597,439 | 21.63 | | Central Huijin Asset Management Co., Ltd. | 51,346,878 | 0.69 | - China Merchants Group Logistics Co., Ltd. is a wholly-owned subsidiary of China Merchants Group Co., Ltd., forming a concerted action relationship[11](index=11&type=chunk) [Significant Events](index=6&type=section&id=Significant%20Events) This section details major changes in financial statements, progress on key corporate actions, government subsidies received, and operational statistics across business segments [Analysis of Significant Changes in Financial Statements and Indicators](index=6&type=section&id=3.1%20公司主要会计报表项目%E3%80%81财务指标重大变动的情况及原因) Significant changes include a decrease in monetary funds due to debt repayment, a surge in R&D expenses, and a sharp decline in financing cash inflows Major Changes in Consolidated Balance Sheet | Item | Change Rate (%) | Primary Reason | | :--- | :--- | :--- | | Monetary Funds | -37.17 | Repayment of borrowings and advances | | Short-term Borrowings | -100.00 | Repayment of all short-term borrowings | | Other Payables | -54.15 | Repayment of advances and non-affiliated party fund transfers | | Capital Reserve | 47.92 | Capital premium formed from issuing shares to acquire minority interests in Sinotrans Air Transportation Development | | Minority Interests | -69.13 | Issuance of shares to acquire minority interests in Sinotrans Air Transportation Development | Major Changes in Consolidated Income Statement (Jan-Sep) | Item | Change Rate (%) | Primary Reason | | :--- | :--- | :--- | | Research and Development Expenses | 415,725% | Increased investment in information technology construction | | Other Income | 172.49% | Significant year-on-year increase in government subsidies due to increased China-Europe freight train operations | | Gains/Losses from Changes in Fair Value | -100.00% | Primarily from disposed Meileng shares in the prior year, no such item this year | | Income Tax Expense | -33.72% | Significant decrease in fair value change gains due to Meileng share disposal, leading to reduced income tax | Major Changes in Consolidated Cash Flow Statement (Jan-Sep) | Item | Change Rate (%) | Primary Reason | | :--- | :--- | :--- | | Total Cash Outflow from Investing Activities | -50.26% | Decrease in term deposits during the period | | Total Cash Inflow from Financing Activities | -93.41% | Significant decrease in borrowing scale compared to the prior year | [Progress of Significant Events](index=9&type=section&id=3.2%20重要事项进展情况) The company completed the share-for-share merger of Sinotrans Air Transportation Development and is processing subsequent legal procedures - The company completed the share-for-share merger and absorption of its subsidiary Sinotrans Air Transportation Development, listing A-shares on the Shanghai Stock Exchange on January 18, 2019[17](index=17&type=chunk) [Government Subsidies](index=9&type=section&id=3.5%20政府补助) In Q3 2019, the company received 431 million yuan in income-related government subsidies, largely from China-Europe freight train operations Major Government Subsidy Projects in Q3 2019 (Exceeding 5 Million Yuan) | Subsidy Project | Subsidy Amount (RMB: 10,000 Yuan) | | :--- | :--- | | Xiang-Europe Freight Train Financial Subsidy | 24,577.35 | | China-Europe Freight Train Russia-Xi'an Route | 8,959.67 | | International Railway Container Train Subsidy (Dongguan) | 4,499.95 | | Shenyang China-Europe Freight Train Operation Platform Project | 3,304.35 | | **Total** | **41,341.32** | [Operational Statistics by Business Segment](index=10&type=section&id=3.6%20业务板块的营运统计数字) Q1-Q3 2019 saw mixed performance, with sea freight growing, air and project logistics declining, and express delivery showing strong growth Year-on-Year Changes in Operational Data by Business Segment for Q1-Q3 2019 | Business Segment | Sub-segment | Unit | Jan-Sep 2019 | Jan-Sep 2018 | Year-on-Year Change | | :--- | :--- | :--- | :--- | :--- | :--- | | Freight Forwarding | Sea Freight Forwarding | 10,000 TEUs | 952.0 | 937.2 | +1.6% | | | Air Freight Forwarding | Million kg | 340.3 | 388.0 | -12.3% | | Professional Logistics | Project Logistics | Million tons | 4.7 | 8.4 | -44.0% | | Other Services | Express Delivery Services | 10,000 pieces | 9,629.3 | 6,507.9 | +48.0% | [Appendix](index=11&type=section&id=Appendix) This section includes the unaudited financial statements, details on the adoption of new accounting standards, and the audit status of the report [Financial Statements](index=11&type=section&id=4.1%20财务报表) This section presents the company's unaudited consolidated and parent company financial statements as of September 30, 2019 [Consolidated Balance Sheet](index=11&type=section&id=Consolidated%20Balance%20Sheet) As of September 30, 2019, total assets were 60.15 billion yuan, with an asset-liability ratio of 51.5% Key Items from Consolidated Balance Sheet (September 30, 2019) | Item | Amount (Yuan) | | :--- | :--- | | Total Assets | 60,145,601,423.62 | | Total Liabilities | 30,977,549,521.39 | | Total Equity Attributable to Parent Company Owners | 27,742,697,946.82 | | Minority Interests | 1,425,353,955.41 | [Consolidated Income Statement](index=16&type=section&id=Consolidated%20Income%20Statement) For Q1-Q3 2019, total operating revenue was 55.86 billion yuan, with net profit attributable to parent company shareholders at 2.12 billion yuan Key Items from Consolidated Income Statement (Q1-Q3 2019) | Item | Amount (Yuan) | | :--- | :--- | | Total Operating Revenue | 55,854,565,973.46 | | Operating Profit | 2,589,622,582.95 | | Total Profit | 2,619,747,006.20 | | Net Profit | 2,215,314,409.49 | | Net Profit Attributable to Parent Company Shareholders | 2,117,314,530.86 | [Consolidated Cash Flow Statement](index=21&type=section&id=Consolidated%20Cash%20Flow%20Statement) For Q1-Q3 2019, operating cash flow was negative, while financing activities resulted in a significant net outflow Consolidated Cash Flow Statement Summary (Q1-Q3 2019) | Item | Amount (Yuan) | | :--- | :--- | | Net Cash Flow from Operating Activities | -170,771,090.96 | | Net Cash Flow from Investing Activities | 601,366,539.56 | | Net Cash Flow from Financing Activities | -6,110,769,044.44 | | Net Increase/Decrease in Cash and Cash Equivalents | -5,647,611,541.38 | [Adjustments for First-Time Adoption of New Accounting Standards](index=23&type=section&id=4.2%20首次执行新会计准则调整情况) The company adopted new leasing standards from January 1, 2019, impacting opening balance sheet items like right-of-use assets and lease liabilities - The company adopted new leasing standards from January 1, 2019, and adjusted relevant items in the opening financial statements[42](index=42&type=chunk)[45](index=45&type=chunk) Major Impact of New Leasing Standards on Opening Consolidated Financial Statements | Adjustment Item | Adjustment Amount (Yuan) | | :--- | :--- | | Right-of-Use Assets | +1,978,154,247.26 | | Lease Liabilities (Non-current) | +1,574,632,544.99 | | Non-current Liabilities Due Within One Year | +387,602,306.48 | | Long-term Deferred Expenses | -104,226,489.17 | | Retained Earnings | -67,948,139.86 | [Audit Report](index=28&type=section&id=4.4%20审计报告) This quarterly report has not been audited - The report explicitly states that this quarterly financial report is unaudited (applicable option is "Not Applicable")[45](index=45&type=chunk)

中期報告 2019 a province in the language of the state of the state of the state of the state of the state of the state of the state of the station of the state of the state of the state INOTRANS ...... 成就客戶 創造價值 中國外運股份有限公司 SINOTRANS LIMITED 股份代號： 00598 香港 601598 上海 重要提示 2019年中期報告 1 一、 本公司董事會、監事會及董事、監事、高級管理人員保證半年度報告內容的真實、準確、完整，不存在虛 假記載、誤導性陳述或重大遺漏，並承擔個別和連帶的法律責任。 二、 未出席董事情況 未出席董事職務 未出席董事姓名 未出席董事的原因說明 被委託人姓名 董事 粟健 其他工作安排 熊賢良 獨立董事 宋海清 其他工作安排 李倩 三、 本半年度報告未經審計。 四、 公司負責人李關鵬、主管會計工作負責人王久雲及會計機構負責人（會計主管人員）李曉艷聲明：保證半年 度報告中財務 ...

[Important Notice](index=3&type=section&id=Item%20I.%20Important%20Notice) This section confirms the management's assurance of the quarterly report's truthfulness, accuracy, and completeness, noting it remains unaudited [Guarantee of Truthfulness, Accuracy, and Completeness of Quarterly Report](index=3&type=section&id=1.1%20Board%20of%20Directors%2C%20Supervisory%20Board%2C%20Directors%2C%20Supervisors%2C%20and%20Senior%20Management%20Guarantee%20the%20Truthfulness%2C%20Accuracy%2C%20and%20Completeness%20of%20the%20Quarterly%20Report) The company's management guarantees the truthfulness, accuracy, and completeness of this quarterly report, assuming legal responsibility for its content - The company's Board of Directors, Supervisory Board, and senior management ensure the truthfulness, accuracy, and completeness of the quarterly report[3](index=3&type=chunk) - The company's head, chief accountant, and head of accounting department all guarantee the truthfulness, accuracy, and completeness of the financial statements[4](index=4&type=chunk) - This first quarterly report is unaudited[4](index=4&type=chunk) [Company Overview](index=3&type=section&id=Item%20II.%20Company%20Overview) This section provides an overview of the company's key financial performance, non-recurring gains and losses, and shareholder structure for the reporting period [Key Financial Data and Non-Recurring Gains and Losses](index=3&type=section&id=2.1%20Key%20Financial%20Data) In Q1 2019, the company reported 18.00 billion CNY in revenue, a 2.99% increase, and 581.67 million CNY in net profit attributable to shareholders, up 21.23%, with net assets significantly growing due to share issuance for asset acquisition 2019 Q1 Key Financial Data | Indicator | Current Period | Prior Year Period | YoY Change (%) | | :--- | :--- | :--- | :--- | | Operating Revenue (CNY) | 18,001,182,709.24 | 17,479,230,632.21 | 2.99% | | Net Profit Attributable to Shareholders (CNY) | 581,670,170.17 | 479,804,940.44 | 21.23% | | Net Profit Attributable to Shareholders (Excluding Non-recurring Items) (CNY) | 486,432,984.50 | 348,499,376.68 | 39.58% | | Basic Earnings Per Share (CNY/share) | 0.08 | 0.08 | 0% | | Weighted Average Return on Net Assets (%) | 2.20% | 2.22% | Decrease of 0.02 percentage points | | Net Cash Flow from Operating Activities (CNY) | -1,075,982,061.31 | -1,181,617,775.80 | Not Applicable | | **Balance Sheet Indicators** | **Period-End** | **Year-End (Prior Year)** | **Period-End vs. Year-Beginning Change (%)** | | Total Assets (CNY) | 63,368,448,633.51 | 61,494,221,583.94 | 3.05% | | Net Assets Attributable to Shareholders (CNY) | 27,288,511,469.92 | 23,236,402,371.62 | 17.44% | 2019 Q1 Non-Recurring Gains and Losses Items | Item | Amount (CNY) | Explanation | | :--- | :--- | :--- | | Gains/Losses from Disposal of Non-current Assets | 77,190,412.69 | Primarily gains from disposal of fixed assets and long-term equity investments | | Government Grants Included in Current Profit/Loss | 30,333,160.07 | Government grants | | Other Non-operating Income and Expenses | 12,798,187.52 | - | | **Total** | **95,237,185.67** | - | [Shareholder Information](index=5&type=section&id=2.2%20Total%20Shareholders%2C%20Top%20Ten%20Shareholders%2C%20and%20Top%20Ten%20Circulating%20Shareholders%20at%20Period-End) As of the reporting period end, the company had 97,593 shareholders, with China National Foreign Trade Transportation (Group) Corporation and China Merchants Group being major controlling shareholders - As of the reporting period end, the company had **97,593 shareholders**, including 97,468 A-share shareholders and 125 H-share shareholders[8](index=8&type=chunk)[9](index=9&type=chunk) Top Ten Shareholders' Holdings | Shareholder Name | Number of Shares Held (shares) | Percentage (%) | Shareholder Nature | | :--- | :--- | :--- | :--- | | China National Foreign Trade Transportation (Group) Corporation | 2,461,596,200 | 33.26 | State-owned Legal Person | | HKSCC NOMINEES LIMITED | 2,107,438,449 | 28.48 | Overseas Legal Person | | China Merchants Group Co., Ltd. | 1,600,597,439 | 21.63 | State-owned Legal Person | | Central Huijin Asset Management Co., Ltd. | 51,346,878 | 0.69 | State-owned Legal Person | - China National Foreign Trade Transportation (Group) Corporation is a wholly-owned subsidiary of China Merchants Group Co., Ltd., forming a concerted action relationship[10](index=10&type=chunk) [Preferred Shareholder Information](index=6&type=section&id=2.3%20Total%20Preferred%20Shareholders%2C%20Top%20Ten%20Preferred%20Shareholders%2C%20and%20Top%20Ten%20Unrestricted%20Preferred%20Shareholders%20at%20Period-End) The company had no preferred shareholders at the end of the reporting period - The company had no preferred shareholders at the end of this reporting period[10](index=10&type=chunk) [Significant Matters](index=6&type=section&id=Item%20III.%20Significant%20Matters) This section details significant changes in financial statement items, progress on major events, unfulfilled commitments, and operational statistics for various business segments [Analysis of Significant Changes in Key Financial Statement Items and Indicators](index=6&type=section&id=3.1%20Significant%20Changes%20and%20Reasons%20for%20Key%20Financial%20Statement%20Items%20and%20Indicators) The company's financial statements show significant changes across multiple items, driven by the adoption of new leasing standards, share issuance for asset acquisition, and shifts in operational activities [Consolidated Balance Sheet Items](index=7&type=section&id=(1)%20Consolidated%20Balance%20Sheet%20Items) Balance sheet changes primarily stem from the adoption of new leasing standards, the acquisition of minority equity through share issuance, and an increase in structured deposits Major Changes in Consolidated Balance Sheet Items | Item | Change Rate (%) | Reason for Change | | :--- | :--- | :--- | | Trading Financial Assets | 99.96% | New structured deposits of 400 million CNY in the current period | | Right-of-Use Assets | Not Applicable | New leasing standards adopted from January 1, 2019 | | Lease Liabilities | Not Applicable | New leasing standards adopted from January 1, 2019 | | Capital Reserve | 48.93% | Capital premium formed from issuing shares to acquire minority equity in Sinotrans Air Transportation Development Co., Ltd | | Non-controlling Interests | -71.83% | Issuance of shares to acquire minority equity in Sinotrans Air Transportation Development Co., Ltd | [Consolidated Income Statement Items](index=7&type=section&id=(2)%20Consolidated%20Income%20Statement%20Items) Income statement changes include a significant increase in other income due to government subsidies and asset disposal gains, while fair value change income decreased due to prior asset disposals Major Changes in Consolidated Income Statement Items | Item | Change Rate (%) | Reason for Change | | :--- | :--- | :--- | | Other Income | 133.21% | Significant increase in government subsidies due to increased China-Europe freight train operations | | Gains from Asset Disposal | 154.40% | Increase in gains from property disposal | | Fair Value Change Income | -100.00% | Trading financial assets from the previous year were disposed of before the end of 2018 | | Income Tax Expense | -30.04% | Corresponding decrease in income tax provision due to significant decline in fair value change income from trading financial asset disposal | [Consolidated Cash Flow Statement Items](index=8&type=section&id=(3)%20Consolidated%20Cash%20Flow%20Statement%20Items) Cash flow statement changes are primarily driven by a decrease in cash inflows from investing activities due to the maturity of structured deposits and a sharp reduction in financing activities due to lower borrowing Major Changes in Consolidated Cash Flow Statement Items | Item | Change Rate (%) | Reason for Change | | :--- | :--- | :--- | | Subtotal of Cash Inflows from Investing Activities | -49.78% | Structured deposits of 630 million CNY matured and were recovered in the prior year period | | Subtotal of Cash Outflows from Investing Activities | -33.50% | Significant decrease in fixed asset investments in the current period | | Subtotal of Cash Inflows from Financing Activities | -91.77% | Significant decrease in borrowing scale compared to the prior year | [Progress, Impact, and Solutions for Significant Matters](index=8&type=section&id=3.2%20Progress%2C%20Impact%2C%20and%20Solutions%20for%20Significant%20Matters) The company completed a major asset restructuring in January 2019 by absorbing its subsidiary Sinotrans Air Transportation Development Co., Ltd. through a share swap, increasing its registered capital - The company completed the share-swap absorption merger of its subsidiary Sinotrans Air Transportation Development Co., Ltd., which was listed on the Shanghai Stock Exchange on January 18, 2019[15](index=15&type=chunk) - Through this restructuring, the company issued **1,351,637,231 A-shares**, increasing its registered capital from approximately **6.05 billion CNY** to approximately **7.40 billion CNY**[15](index=15&type=chunk) [Overdue Unfulfilled Commitments During the Reporting Period](index=8&type=section&id=3.3%20Overdue%20Unfulfilled%20Commitments%20During%20the%20Reporting%20Period) The company had no overdue unfulfilled commitments during the reporting period - The applicability checkbox indicates no overdue unfulfilled commitments for the company[15](index=15&type=chunk) [Warning and Explanation of Potential Loss or Significant Change in Cumulative Net Profit from Year-Beginning to End of Next Reporting Period](index=8&type=section&id=3.4%20Warning%20and%20Explanation%20of%20Potential%20Loss%20or%20Significant%20Change%20in%20Cumulative%20Net%20Profit%20from%20Year-Beginning%20to%20End%20of%20Next%20Reporting%20Period) The company has not issued any warning regarding a potential loss or significant change in cumulative net profit from the beginning of the year to the end of the next reporting period - The applicability checkbox indicates no relevant performance warning issued by the company[15](index=15&type=chunk) [Operational Statistics for Company Business Segments](index=9&type=section&id=3.5%20Operational%20Statistics%20for%20Company%20Business%20Segments) In Q1 2019, the company's core freight forwarding saw declines in sea and air freight volumes, while express delivery services experienced significant growth 2019 Q1 Key Business Operational Data | Business Segment | Sub-segment | Unit | Jan-Mar 2019 | Jan-Mar 2018 | | :--- | :--- | :--- | :--- | :--- | | **Freight Forwarding** | Sea Freight Forwarding | Million TEUs | 2.52 | 2.56 | | | Air Freight Forwarding | Million kg | 99.6 | 121.5 | | **Professional Logistics** | Project Logistics | Million tons | 1.4 | 2.2 | | **Warehousing & Terminals** | Terminal Services | Million TEUs | 0.701 | 0.760 | | **Other Services** | Express Delivery Services | Million pieces | 24.06 | 20.51 | [Appendix](index=9&type=section&id=Item%20IV.%20Appendix) This section contains the company's unaudited financial statements for the first quarter of 2019, along with explanations for adjustments due to the first-time adoption of new accounting standards [Financial Statements](index=9&type=section&id=4.1%20Financial%20Statements) This chapter provides the company's unaudited detailed financial statements for Q1 2019, including consolidated and parent company balance sheets, income statements, and cash flow statements [Consolidated Balance Sheet](index=9&type=section&id=Consolidated%20Balance%20Sheet) This section presents the consolidated balance sheet as of March 31, 2019, with comparative data from December 31, 2018 [Parent Company Balance Sheet](index=12&type=section&id=Parent%20Company%20Balance%20Sheet) This section presents the parent company balance sheet as of March 31, 2019, with comparative data from December 31, 2018 [Consolidated Income Statement](index=14&type=section&id=Consolidated%20Income%20Statement) This section presents the consolidated income statement for the first quarter of 2019, with comparative data from the first quarter of 2018 [Parent Company Income Statement](index=15&type=section&id=Parent%20Company%20Income%20Statement) This section presents the parent company income statement for the first quarter of 2019, with comparative data from the first quarter of 2018 [Consolidated Cash Flow Statement](index=17&type=section&id=Consolidated%20Cash%20Flow%20Statement) This section presents the consolidated cash flow statement for the first quarter of 2019, with comparative data from the first quarter of 2018 [Parent Company Cash Flow Statement](index=18&type=section&id=Parent%20Company%20Cash%20Flow%20Statement) This section presents the parent company cash flow statement for the first quarter of 2019, with comparative data from the first quarter of 2018 [Adjustments to Financial Statements at Beginning of First Year of Adoption of New Financial Instruments, Revenue, and Lease Standards](index=19&type=section&id=4.2%20Adjustments%20to%20Financial%20Statements%20at%20Beginning%20of%20First%20Year%20of%20Adoption%20of%20New%20Financial%20Instruments%2C%20Revenue%2C%20and%20Lease%20Standards) Effective January 1, 2019, the company adopted new leasing standards, resulting in the recognition of 2.05 billion CNY in "Right-of-Use Assets" and "Lease Liabilities" on the opening consolidated balance sheet, without retrospective restatement of prior comparative data - The company adopted new leasing standards effective January 1, 2019, and adjusted its opening financial statements accordingly[32](index=32&type=chunk)[34](index=34&type=chunk) Impact of New Lease Standards on Consolidated Balance Sheet as of January 1, 2019 | Item | Amount Before Adjustment (CNY) | Adjustment (CNY) | Amount After Adjustment (CNY) | | :--- | :--- | :--- | :--- | | **Assets** | | | | | Right-of-Use Assets | 0 | +2,046,629,932.84 | 2,046,629,932.84 | | Prepaid Expenses | 2,090,854,225.68 | -4,526,725.37 | 2,086,327,500.31 | | **Liabilities** | | | | | Lease Liabilities | 0 | +2,046,799,437.70 | 2,046,799,437.70 | | Notes Payable and Accounts Payable | 9,056,129,695.54 | -4,696,230.23 | 9,051,433,465.31 | [Explanation of Retrospective Adjustments to Prior Period Comparative Data Upon First-Time Adoption of New Financial Instruments and Lease Standards](index=24&type=section&id=4.3%20Explanation%20of%20Retrospective%20Adjustments%20to%20Prior%20Period%20Comparative%20Data%20Upon%20First-Time%20Adoption%20of%20New%20Financial%20Instruments%20and%20Lease%20Standards) The company did not retrospectively adjust prior period comparative data upon the first-time adoption of new financial instruments and lease standards - The applicability checkbox indicates that the company did not retrospectively adjust prior comparative data[38](index=38&type=chunk) [Audit Report](index=24&type=section&id=4.4%20Audit%20Report) This quarterly report has not been audited - The applicability checkbox indicates that an audit report is not applicable for this report, consistent with the "unaudited" statement in the main text[38](index=38&type=chunk)

| --- | --- | --- | --- | --- | --- | |-------|----------------------------------------|-------|-------|-------|-------| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | OTRANS | | | | | | | | | | | | | | 中國外運股份有限公司 SINOTRANS LIMITED | | | | | 股份代號： 00598 香港 601598 上海 成就客戶 創造價值 2018 年度報告 (立)(深 (愛) ( (9) OU 560015 未出席董事職務 未出席董事姓名 未出席董事的原因說明 被委託人姓名 董事 宋德星 其他工作安排 許克威 重要提示 二零一八年年報 1 重要提示 一、 本公司董事會、監事會及董事、監事、高級管理人員保證年度報告內容的真實、準確、完整，不存在虛假記 載、誤導性陳述或重大遺漏，並承擔個別和連帶的法律責任。 二、 未出席董事情況 三、 信永中和會計師 ...