JG Summit Holdings Inc.

Comeprative Balance Sheet

December 31 2018 and 2017

ASSETS
Current Assets
Cash and cash equivalents (Note 7)
Financial assets at fair value through profit or loss (Note 9)
Financial assets at fair value through other comprehensive income (Note 10)
Available-for-sale investments (Note 10)
Receivables (Note 11)
Inventories (Note 12)
Biological assets (Note 17)
Contract assets (Note 26)
Other current assets (Note 13)
Total Current Assets

Noncurrent Assets
Financial assets at fair value through other comprehensive income (Note 10)
Available-for-sale investments (Note 10)
Receivables (Note 11)
Investment securities at amortized cost (Note 10)
Investments in associates and joint ventures (Note 14)
Property, plant and equipment (Note 16)
Investment properties (Note 15)
Contract assets (Note 26)
Goodwill (Note 19)
Intangible assets (Note 18)
Biological assets (Note 17)
Other noncurrent assets (Note 20)
Total Noncurrent Assets
Total Assets

LIABILITIES AND EQUITY

Current Liabilities
Accounts payable and accrued expenses (Note 21)
Short-term debts (Note 23)
Current portion of long-term debts (Note 23)
Contract liabilities (Note 26)
Income tax payable
Other current liabilities (Note 22)
Total Current Liabilities

Noncurrent Liabilities
Long-term debts - net of current portion (Note 23)
Deferred tax liabilities (Note 38)
Contract liabilities (Note 26)
Other noncurrent liabilities (Note 24)
Total Noncurrent Liabilities
Total Liabilities

Equity
Equity attributable to equity holders of the Parent Company:
Paid-up capital (Note 25)
Retained earnings (Note 25)
Equity reserve (Note 25)
Other comprehensive losses (Note 36)

Non-controlling interests (Note 25)

Total Equity
Total Liabilities and Equity

JG Summit Holdings Inc.

Comeprative Income Statement
December 31 2018 and 2017

REVENUE
Sale of goods and services (Note 26):
Foods
Air transportation
Petrochemicals
Real estate and hotels (Notes 11 and 15)
Banking
Equity in net earnings of associates and joint ventures (Note 14)
Dividend income (Note 28)
Supplementary businesses

COST OF SALES AND SERVICES

Cost of sales (Note 30)
Cost of services (Note 30)

GROSS INCOME
OPERATING EXPENSES
General and administrative expenses (Note 31)
Impairment losses and others (Note 34)

OPERATING INCOME

OTHER INCOME (LOSSES)

Financing costs and other charges (Note 35)
Foreign exchange losses
Finance income (Note 27)
Market valuation gains (losses) on financial assets at fair value through profit or loss - net (Note 9)
Market valuation losses on impaired available-for-sale investments (Note 10)
Market valuation gains (losses) on derivative financial instruments - net (Note 8)
Others (Note 29)

INCOME BEFORE INCOME TAX

PROVISION FOR INCOME TAX (Note 38)

NET INCOME

OTHER COMPREHENSIVE INCOME (LOSS), NET OF TAX (Note 36)

Items that may be reclassified subsequently to profit or loss:
Cumulative translation adjustments
Net losses on financial assets at FVOCI (debt securities)
Share in the net unrealized losses on financial assets at FVOCI of associates (debt
securities)
Net losses from cash flow hedges (Note 8)
Share in net unrealized gain (losses) on available-for-sale investments of an associate
(Notes 10 and 14)
Net gains on available-for-sale investments (Note 10)

Items that will not be reclassified to profit or loss:

Net losses in financial assets at FVOCI (equity securities) (Note 10)
Share in the net unrealized gains (losses) on financial assets at FVOCI of associates
(equity securities)
Remeasurements of the net defined benefit liability (Note 37)
Share in remeasurements of the et defined benefit liability of associates (Note 14)
TOTAL COMPREHENSIVE INCOME

NET INCOME ATTRIBUTABLE TO

Equity holders of the Parent Company
Non-controlling interests (Note 25)

TOTAL COMPREHENSIVE INCOME ATTRIBUTABLE TO

Equity holders of the Parent Company
Non-controlling interests (Note 25)

Earnings Per Share Attributable to Equity Holders of the Parent Company (Note 39)
Basic/diluted earnings per share
 Increase or Decrease
2018 2017 Amount

49,194,676,441 54,336,295,189 -5,141,618,748

3,650,524,523 12,357,132,241 -8,706,607,718
23,915,670,876 0 23,915,670,876
0 21,468,095,579 -21,468,095,579
43,675,353,273 47,614,193,567 -3,938,840,294
63,472,037,028 54,757,779,634 8,714,257,394
741,719,637 1,180,266,509 -438,546,872
5,088,356,660 0 5,088,356,660
24,566,599,212 12,861,368,517 11,705,230,695
214,304,937,650 206,575,131,336 7,729,806,314

19,457,411,625 0 19,457,411,625
0 25,597,305,960 -25,597,305,960
49,851,486,164 42,649,712,079 7,201,774,085
12,597,089,717 0 12,597,089,717
144,914,597,233 138,538,902,953 6,375,694,280
218,273,655,227 181,660,164,319 36,613,490,908
93,816,970,875 87,023,420,469 6,793,550,406
6,444,995,326 0 6,444,995,326
32,005,604,356 32,023,183,943 -17,579,587
13,954,424,592 14,021,031,196 -66,606,604
366,184,414 498,309,880 -132,125,466
13,299,658,655 10,867,350,382 2,432,308,273
604,982,078,184 532,879,381,181 72,102,697,003
819,287,015,834 739,454,512,517 79,832,503,317

132,655,835,417 113,878,808,251 18,777,027,166

35,453,723,993 45,847,813,461 -10,394,089,468
30,962,269,832 5,728,469,720 25,233,800,112
12,931,513,843 0 12,931,513,843
1,776,773,241 1,809,511,201 -32,737,960
15,639,061,129 13,695,140,209 1,943,920,920
229,419,177,455 180,959,742,842 48,459,434,613

179,286,697,516 175,958,344,946 3,328,352,570

7,877,223,942 7,205,880,096 671,343,846
2,378,690,953 0 2,378,690,953
32,847,365,429 28,910,996,632 3,936,368,797
222,389,977,840 212,075,221,674 10,314,756,166
451,809,155,295 393,034,964,516 58,774,190,779

30,755,866,814 30,755,866,814 0
239,101,689,440 207,722,156,987 31,379,532,453
29,573,169,046 29,638,831,336 -65,662,290
-22,844,854,470 -279,499,751 -22,565,354,719
276,585,870,830 267,837,355,386 8,748,515,444

90,891,989,709 78,582,192,615 12,309,797,094

367,477,860,539 346,419,548,001 21,058,312,538
819,287,015,834 739,454,512,517 79,832,503,317

Increase or Decrease
2018 2017 Amount

127,769,949,329 125,007,824,013 2,762,125,316

74,113,776,885 68,029,131,426 6,084,645,459
42,351,966,134 41,406,489,496 945,476,638
29,467,564,096 22,448,257,224 7,019,306,872
6,132,382,567 4,475,828,582 1,656,553,985
10,181,841,883 9,908,717,906 273,123,977
1,227,572,942 1,451,837,755 -224,264,813
670,963,828 717,368,505 -46,404,677
291,916,017,664 273,445,454,907 18,470,562,757

129,734,114,999 119,176,312,217 10,557,802,782

 63,858,758,345 52,378,128,769 11,480,629,576
193,592,873,344 171,554,440,986 22,038,432,358
98,323,144,320 101,891,013,921 -3,567,869,601

52,912,530,779 49,910,047,737 3,002,483,042

145,801,581 248,080,372 -102,278,791
53,058,332,360 50,158,128,109 2,900,204,251

45,264,811,960 51,732,885,812 -6,468,073,852

-9,635,374,773 -7,836,137,934 -1,799,236,839

-2,854,338,888 -902,717,961 -1,951,620,927
1,745,547,717 1,243,424,967 502,122,750
-683,102,223 696,406,991 -1,379,509,214
0 0 0
-336,784,218 -155,230,460 -181,553,758
-459,468,426 241,871,584 -701,340,010

33,041,291,149 45,020,502,999 -11,979,211,850

5,143,793,706 5,501,468,891 -357,675,185

27,897,497,443 39,519,034,108 -11,621,536,665

1,486,465,748 -1,183,796,363 2,670,262,111

-2,041,409,693 0 -2,041,409,693
-137,490,800 0
-137,490,800
-3,336,553 -11,359,660 8,023,107
0 24,394,385
-24,394,385
0 1,759,433,181 -1,759,433,181

-5,897,064,704 0 -5,897,064,704

-3,913,766 0 -3,913,766
312,977,712 116,814,170 196,163,542
387,758,074 -326,973,548 714,731,622
-5,896,013,982 378,512,165 -6,274,526,147
22,001,483,461 39,897,546,273 -17,896,062,812

19,186,040,273 29,369,537,456 -10,183,497,183

8,711,457,170 10,149,496,652 -1,438,039,482
27,897,497,443 39,519,034,108 -11,621,536,665

12,843,653,219 30,338,629,205 -17,494,975,986

9,157,830,242 9,558,917,068 -401,086,826
22,001,483,461 39,897,546,273 -17,896,062,812

2.68 4.1 -1
Increase or Decrease
Perecent

-9.46
-70.46
0.00
-100.00
-8.27
15.91
-37.16
0.00
91.01
3.74

0.00
-100.00
16.89
0.00
4.60
20.15
7.81
0.00
-0.05
-0.48
-26.51
22.38
13.53
10.80

16.49
-22.67
440.50
0.00
-1.81
14.19
 26.78

1.89
9.32
0.00
13.62
4.86
14.95

0.00
15.11
-0.22
8073.48
3.27

15.66
6.08
10.80

Increase or Decrease
Perecent

2.21
8.94
2.28
31.27
37.01
2.76
-15.45
-6.47
6.75

8.86
 21.92
12.85
-3.50

6.02
-41.23
5.78

-12.50

22.96
216.19
40.38
-198.09
0.00
116.96
-289.96

-26.61

-6.50

-29.41

-225.57
0.00

0.00
-70.63

-100.00
-100.00

0.00

0.00
167.93
-218.59
-1657.68
-44.86

-34.67
-14.17
-29.41

-57.67
-4.20
-44.86

-34.63
JG Summit Holdings Inc.
Common-size Balance Sheet
December 31 2018 and 2017

ASSETS
Current Assets
Cash and cash equivalents (Note 7) 49,194,676,441
Financial assets at fair value through profit or loss (Note 9) 3,650,524,523
Financial assets at fair value through other comprehensive
23,915,670,876
income (Note 10)
Available-for-sale investments (Note 10) 0
Receivables (Note 11) 43,675,353,273
Inventories (Note 12) 63,472,037,028
Biological assets (Note 17) 741,719,637
Contract assets (Note 26) 5,088,356,660
Other current assets (Note 13) 24,566,599,212
Total Current Assets 214,304,937,650

Noncurrent Assets
Financial assets at fair value through other comprehensive inco 19,457,411,625
Available-for-sale investments (Note 10) 0
Receivables (Note 11) 49,851,486,164
Investment securities at amortized cost (Note 10) 12,597,089,717
Investments in associates and joint ventures (Note 14) 144,914,597,233
Property, plant and equipment (Note 16) 218,273,655,227
Investment properties (Note 15) 93,816,970,875
Contract assets (Note 26) 6,444,995,326
Goodwill (Note 19) 32,005,604,356
Intangible assets (Note 18) 13,954,424,592
Biological assets (Note 17) 366,184,414
Other noncurrent assets (Note 20) 13,299,658,655
Total Noncurrent Assets 604,982,078,184
Total Assets 819,287,015,834

LIABILITIES AND EQUITY

Current Liabilities
Accounts payable and accrued expenses (Note 21) 132,655,835,417
Short-term debts (Note 23) 35,453,723,993
Current portion of long-term debts (Note 23) 30,962,269,832
Contract liabilities (Note 26) 12,931,513,843
Income tax payable 1,776,773,241
Other current liabilities (Note 22) 15,639,061,129
Total Current Liabilities 229,419,177,455

Noncurrent Liabilities
Long-term debts - net of current portion (Note 23) 179,286,697,516
Deferred tax liabilities (Note 38) 7,877,223,942
Contract liabilities (Note 26) 2,378,690,953
Other noncurrent liabilities (Note 24) 32,847,365,429
Total Noncurrent Liabilities 222,389,977,840
Total Liabilities 451,809,155,295

Equity
Equity attributable to equity holders of the Parent Company:
Paid-up capital (Note 25) 30,755,866,814
Retained earnings (Note 25) 239,101,689,440
Equity reserve (Note 25) 29,573,169,046
Other comprehensive losses (Note 36) -22,844,854,470
276,585,870,830

Non-controlling interests (Note 25) 90,891,989,709

Total Equity 367,477,860,539
Total Liabilities and Equity 819,287,015,834

JG Summit Holdings Inc.

Common-size Income Statement
December 31 2018 and 2017

REVENUE
Sale of goods and services (Note 26):
Foods 127,769,949,329
Air transportation 74,113,776,885
Petrochemicals 42,351,966,134
Real estate and hotels (Notes 11 and 15) 29,467,564,096
Banking 6,132,382,567
Equity in net earnings of associates and joint ventures (Note 14) 10,181,841,883
Dividend income (Note 28) 1,227,572,942
Supplementary businesses 670,963,828
291,916,017,664
COST OF SALES AND SERVICES
Cost of sales (Note 30) 129,734,114,999
Cost of services (Note 30) 63,858,758,345
193,592,873,344
GROSS INCOME 98,323,144,320
OPERATING EXPENSES
General and administrative expenses (Note 31) 52,912,530,779
Impairment losses and others (Note 34) 145,801,581
53,058,332,360

OPERATING INCOME 45,264,811,960

OTHER INCOME (LOSSES)

Financing costs and other charges (Note 35) -9,635,374,773
Foreign exchange losses -2,854,338,888
Finance income (Note 27) 1,745,547,717
Market valuation gains (losses) on financial assets at fair value t -683,102,223
Market valuation losses on impaired available-for-sale investme 0
Market valuation gains (losses) on derivative financial instrumen -336,784,218
Others (Note 29) -459,468,426

INCOME BEFORE INCOME TAX 33,041,291,149

PROVISION FOR INCOME TAX (Note 38) 5,143,793,706

NET INCOME 27,897,497,443

OTHER COMPREHENSIVE INCOME (LOSS),

NET OF TAX (Note 36)
Items that may be reclassified subsequently to profit or loss:
Cumulative translation adjustments 1,486,465,748
Net losses on financial assets at FVOCI (debt
-2,041,409,693
securities)
Share in the net unrealized losses on financial assets at
-137,490,800
FVOCI of associates (debt securities)
Net losses from cash flow hedges (Note 8) -3,336,553
Share in net unrealized gain (losses) on available-for-
0
sale investments of an associate (Notes 10 and 14)
Net gains on available-for-sale investments (Note 10) 0

Items that will not be reclassified to profit or loss:

Net losses in financial assets at FVOCI (equity
securities) (Note 10) -5,897,064,704
 Share in the net unrealized gains (losses) on
financial assets at FVOCI of associates (equity
securities) -3,913,766
Remeasurements of the net defined benefit
liability (Note 37) 312,977,712
Share in remeasurements of the et defined
benefit liability of associates (Note 14) 387,758,074
-5,896,013,982
TOTAL COMPREHENSIVE INCOME 22,001,483,461

NET INCOME ATTRIBUTABLE TO

Equity holders of the Parent Company 19,186,040,273
Non-controlling interests (Note 25) 8,711,457,170
27,897,497,443
TOTAL COMPREHENSIVE INCOME ATTRIBUTABLE TO
Equity holders of the Parent Company 12,843,653,219
Non-controlling interests (Note 25) 9,157,830,242
22,001,483,461

Earnings Per Share Attributable to Equity Holders of the Parent Company (Note 39)
Basic/diluted earnings per share 2.68
 6.00
0.45

2.92
0.00
5.33
7.75
0.09
0.62
3.00
26.16

2.37
0.00
6.08
1.54
17.69
26.64
11.45
0.79
3.91
1.70
0.04
1.62
73.84
100.00

16.19
4.33
3.78
 1.58
0.22
1.91
28.00

21.88
0.96
0.29
4.01
27.14
55.15

3.75
29.18
3.61
-2.79
33.76

11.09
44.85
100.00

43.77
25.39
14.51
10.09
2.10
3.49
0.42
0.23
100.00
44.44
21.88
66.32
33.68

18.13
0.05
18.18

15.51

-3.30
-0.98
0.60
-0.23
0.00
-0.12
-0.16

11.32

1.76

9.56

0.51

-0.70

-0.05
0.00

0.00
0.00

-2.02
0.00

0.11

0.13
-2.02
7.54

6.57
2.98
9.56

4.40
3.14
7.54

0.00