Chongqing Changan Automobile Company Limited 2016 Semi-annual Report
1
Chongqing Changan Automobile Company Limited
2016 Semi-annual Report
August 2016
Chongqing Changan Automobile Company Limited 2016 Semi-annual Report
I.Important directory and interpretation
The Board of Directors, the Board of Supervisors, Directors, Supervisors and Senior Executives of the
Company hereby guarantee that the information contained in the report is free of false records, misguiding
statements or significant omissions, and assume individual and joint liabilities for the truthfulness, accuracy
and integrity of the report.
All the directors attended the board meeting for reviewing the semi-annual report.
For the first half of the year, the Company has no plans of cash dividend, no bonus shares and no share
converted from capital reserve.
Chairman of the Board Mr. Xu Liuping, the Chief of Financial officer Wang Kun, and the Chief of
Accountant department Mr. Hua Zhanbiao hereby declare that the financial statements enclosed in this
semi-annual report are true, accurate and complete.
The report shall be presented in both Chinese and English, and should there be any conflicting understanding of
the text, the Chinese version shall prevail.
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Chongqing Changan Automobile Company Limited 2016 Semi-annual Report
Contents
I Important notes, contents and definitions
General introduction to the Company
II
III Accounting data and summary of financial indexes
IV Report by Board of Directors
Important Issues
V
Change in shares and information about
VI shareholders
Information on directors, supervisors, senior
VII executives and staffs
Financial Statements
VIII
IX Document for future reference
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Chongqing Changan Automobile Company Limited 2016 Semi-annual Report
Definition
ITEM Definition
Changan Auto., the
Refers to Chongqing Changan Automobile Company Limited
Company
South Industries Refers to China South Industries Group Corp. Company’s actual controller
China Changan Automobile Group Corporation, old name: China South
China Changan Refers to
Industries automobile Co., Ltd., a subsidiary company of South Industries
Chongqing Changan Industry (Group) Co., Ltd., old name: Changan
Automobile Co., Ltd., Changan Automobile (Group) Co., Ltd., a
Changan Industry Refers to
subsidiary company of South Industries, the controlling shareholder of the
Company before December, 2005
Nanjing Changan Automobile Co., Ltd., a subsidiary company of the
Nanjing Changan Refers to
Company
Hebei Changan Automobile Co., Ltd., a subsidiary company of the
Hebei Changan Refers to
Company
Hefei Changan Automobile Co., Ltd., a subsidiary company of the
Hefei Changan Refers to
Company
Changan Bus Refers to Baoding Changan Bus Co., Ltd., a subsidiary company of the Company
International Company Refers to Chongqing Changan Automobile International Sale Service Co., Ltd.
Changan Ford Refers to Changan Ford Automobile Co.,，a JV of the Company
Changan Mazda Refers to Changan Mazda Automobile Co., a JV of the Company
CFME Refers to Changan Ford Mazda Engine Co., a JV of the Company
Changan Suzuki Refers to Chognqing Changan Suzuki Auto. Co.Ltd., a JV of the Company
CAPSA Refers to Changan PSA Automobiles Co., Ltd，a JV of the Company
Jiangling Holding Refers to Jiangling Holding Co., a JV of the Company
Chongqing Auto Finance Refers to Chongqing Auto Finance Co.Ltd , Company's Joint Stock Company
Financial Co. of CSGC Refers to Financial Co. of China South Industries Group Corporation
United Prosperity (Hong Kong)Investment Co., Ltd,a subsidiary company
UPI Refers to
of China Changan
Harbin Hafei Automobile Industry Group Co., Ltd., a subsidiary company
Hafei Group Refers to
of China Changan
Chongqing Changan Minsheng APLL Logistics Co., Ltd, a subsidiary
CMAL Refers to
company of Changan Industry
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Chongqing Changan Automobile Company Limited 2016 Semi-annual Report
II. General Introduction to the Company
I. Company information
Share referred to as Changan Auto, Changan B Share code 000625、200625
Listed securities exchange Shenzheng securities exchange
The company’s legal Chinese
重庆长安汽车股份有限公司
Name
Abbreviations of company’s
长安汽车
legal Chinese Name
The company’s legal English
Chongqing Changan Automobile Company Limited
Name
The company’s legal
Xu Liuping
representative
II. Contacts
The secretary of the board of directors Securities affairs representative
Name Wang Kung(On behalf)、Li Jun
No.260 Jianxin East Road, Jiangbei District of
Address
Chongqing
Tel. 023-67594008
Fax 023-67866055
E-mail cazqc@changan.com.cn
III. Others
1. Way of contact
Whether registrations address, offices address and its codes as well as website and email of the Company changed in the
reporting period or not
□ Applicable √ Not applicable
Registrations address, offices address and codes as well as website and email of the Company have no change in the reporting
period. See more details in Annual Report 2015.
2. Information disclosure and preparation place
Whether information disclosure and preparation place changed in reporting period or not
□ Applicable √ Not applicable
The newspaper appointed for information disclosure, website for semi-annual report publish appointed by CSRC and
preparation place for semi-annual report have no change in the reporting period. See more details in Annual Report 2015.
3. Registration changes of the Company
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Chongqing Changan Automobile Company Limited 2016 Semi-annual Report
Whether registration has changed in the reporting period or not
□ Applicable √ Not applicable
Date/place for registration of the Company, registration number for enterprise legal license, the number of taxation registration
and organization code have no change in reporting period. See more details in Annual Report 2015.
4. Other relevant information
Whether other relevant information has changed in the reporting period or not
□ Applicable √ Not applicable
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Chongqing Changan Automobile Company Limited 2016 Semi-annual Report
III. Accounting data and summary of financial indexes
I、Main accounting data and financial indexes
Whether it has retroactive adjustment or re-statement on previous accounting data for accounting policy changed and accounting
error correction or not
□Yes √No
In RMB yuan
Increase/decrease
Report period Same period of last year
y-o-y (%)
Operating revenue (RMB) 35,801,762,921.25 33,052,955,177.49 8.32%
Net profit attributable to shareholders of
5,490,988,582.32 5,085,266,527.13 7.98%
the listed company (RMB)
Net profit attributable to shareholders of
the listed company after deducting 5,051,311,451.92 4,889,911,259.69 3.30%
non-recurring gains and losses (RMB)
Net cash flow arising from operating 4,620,787,228.07
6,436,148,978.03 -28.21%
activities (RMB)
Basic earnings per share (RMB/Share) 1.18 1.09 8.26%
Diluted earnings per share (RMB/Share) 1.18 1.09 8.26%
Weighted average ROE (%) 15.43% 18.44% Down 3.01%
Increase/decrease
Report period Same period of last year
y-o-y (%)
Total assets (RMB) 95,478,684,158.37 89,413,988,669.66 6.78%
Net assets attributable to shareholder of
36,797,443,602.56 34,385,189,070.36 7.02%
the listed company (RMB)
II、The differences between domestic and international accounting standards
(1).Simultaneously pursuant to both Chinese accounting standards and international accounting standards disclosed in the
financial reports of differences in net income and net assets.
□ Applicable √Not applicable
(2). Differences of net profit and net assets disclosed in financial reports prepared under overseas and Chinese accounting
standards.
□ Applicable √Not applicable
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Chongqing Changan Automobile Company Limited 2016 Semi-annual Report
III、non-recurring profit and loss project and cash
In RMB yuan
Project Amount Illustration
Gain/loss of non-current assets -5,941,041.23
The government subsidies included in the current profits and
losses (except government subsidies closely related to 496,486,470.68
corporate business, entitled in fixed quota or quantity)
Current net profit from beginning to combined date of
business combination under common control -
Investment income from disposing available-for-sale equity
securities -
Other non-business income and expenditures other than the
14,125,161.47
above items
Subtract: Influenced amount of income tax 63,165,939.22
Influenced amount of miniority shareholders’ equity (after
1,827,521.30
tax)
Total 439,677,130.40
For the Company’s non-recurring gain/loss items as defined in the Explanatory Announcement No.1 on information disclosure for
Companies Offering their Securities to the Public-Non-recurring Gains and Losses and its non-recurring gain/loss items as illustrated
in the Explanatory Announcement No.1 on information Disclosure for Companies offering their securities to the public-non-recurring
Gains and losses which have been defined as recurring gains and losses, it is necessary to explain the reason.
□ Applicable√ Not applicable
In reporting period, the Company has no particular items defined as recurring profit (gain)/loss according to the lists of extraordinary
profit (gain)/loss in Q&A Announcement No.1 on Information Disclosure for Companies Offering Their Securities to the Public ---
Extraordinary Profit/loss.
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Chongqing Changan Automobile Company Limited 2016 Semi-annual Report
IV. Report by Board of Director
I、Overview
In the first half of 2016, the Company actively responded to the challenges of increasing market competition, and economic
downward pressure, etc., while the production and operation reached a historical high. During the reporting period, the Company and
its associated enterprises and subordinate joint ventures sold more than1.4833 million vehicles in total, up 1.2% year-on-year. Among
them, 0.62 million Changan brand passenger vehicles (including Sedan, SUV and MPV) have been sold, up 13% year-on-year,
ranking first among Chinese brands. In China’s auto market, the Company achieved a market share of about 11.6%, 0.3 percentage
points higher than the previous year, and the sales volume continues to rank top 4 in Chinese automobile industry. (Data source:
China Association of Automobile Manufacturers.)
II、Analysis of Main Business
During the reporting period, the Company delivered operating revenue of RMB 35.802 billion Yuan (the operating revenue of
125.702 Billion Yuan in terms of full revenue from joint venture) and net profit attributable to shareholders of public Corporation
RMB 5.491 billion Yuan, with year-on-year growth of 8.32% and 7.98% respectively. As of the end of the reporting period, the
Company's total assets reached RMB 95.479 billion Yuan, up 6.78% compared with the beginning of the year, total liabilities RMB
58.907 billion Yuan, up 6.64% compared with the beginning of the year, debt asset ratio 61.70%, down 0.08 percentage points
compared with the beginning of the year.
Y-o-y changes of main financial data
In RMB yuan
Same period of last Y-o-y
Current period Reasons for changes
year（restated） increase/decrease
Operating revenue 35,801,762,921.25 33,052,955,177.49 8.32% Increase in scale of production and sales
Operating cost 29,867,338,185.68 27,249,934,200.22 9.61% Increase in scale of production and sales
Business tax and
1,574,338,990.15 1,545,626,871.52 1.86%
surcharges
Operating expenses 2,120,708,553.33 2,135,150,631.89 -0.68%
General and
Increase in depreciation and technology
administrative 2,212,296,933.23 2,039,913,264.88 8.45%
development expenses
expenses
Financial expenses -107,788,565.12 -75,769,863.16 -42.26%%Increase in interest expenses
Impairment loss on Impairment loss on fixed assets and intangible
142,232,585.34 128,153,351.20 10.99%
assets assets increasing over the previous period.
Large increase in investment income from
Investment income 5,208,991,269.98 4,962,949,794.75 4.96%
associated enterprises and joint ventures
Non-operating income 538,423,261.88 253,309,797.80 112.56% Increase in government grant.
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Chongqing Changan Automobile Company Limited 2016 Semi-annual Report
Large increase in investment income from the
Non-operating income 5,706,298,099.54 5,229,201,297.38 9.12%
joint ventures and the Chinese brand profits.
Increase in current income tax expenses and
Income tax expense 229,546,499.16 171,465,058.19 33.87%
decrease in deferred income tax expenses.
Large increase in investment income from the
Net profit attributable
5,490,988,582.32 5,085,266,527.13 7.98% joint ventures and improved profits from Changan
to owners
Automobile itself
Large increase in R&D investment during the
R&D investment 1,584,378,897.88 1,103,565,009.68 43.57%
reporting period
Subtotal of cash inflow Mainly due to the increase of cash paid for goods,
from operating 4,620,787,228.07 6,436,148,978.03 -28.21% payroll and other operational activities is higher
activities than the cash increase in sales
Subtotal of cash inflow
Mainly because of the large increase of cash
from investment 1,681,413,173.43 -1,201,620,752.08 239.93%
dividends from JV
activities
Mainly because of the increase of the cash
Subtotal of cash in-flow
-2,935,209,603.13 -1,256,059,164.34 -133.68% dividend, the net profit and the payment of
from financing activity
interest.
Net increase in cash
3,364,226,826.01 3,982,053,336.06 -15.52%
and cash equivalents
Major changes on profit composition or profit resources in reporting period
□ Applicable √ Not applicable
No major changes on profit composition or profit resources occurred in reporting period.The future development and planning
extended to reporting period that published in disclosure documents as prospectus, private placing memorandum and recapitalize
statement.
□ Applicable √ Not applicable
Review on the previous business plan and its progress during reporting period
In the first half of the year 2016, the Company completed the business indicators decsided at the beginning of the reporting period
by the board of directors well. The total sales volume of the automobiles was 1.4833million, which completed 50.28% of the planed
business indicators. Sales revenue is 125.702 Billion Yuan (including full revenue from joint venture) on statistic basis, with 49.68%
over the annual plan, and 35.802 Billion Yuan from consolidated financial statements, with 49.66% over the annual plan.
III、Composition of Main Business
in RMB Yuan
Increase or Increase or Increase or
decrease of decrease of decrease of
Operating revenue Operating cost Gross profit
operating operating cost gross profit
revenue y-o-y y-o-y y-o-y
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Chongqing Changan Automobile Company Limited 2016 Semi-annual Report
According to industries
Automobile 0.73 percentage
35,181,466,125.50 29,458,322,038.34 16.27% 8.25% 9.20%
Production points decreased
According to products
0.65 percentage
Vehicles 35,100,676,715.85 29,372,709,236.16 16.32% 8.30% 9.15%
points decreased
32.7 percentage
Outsourcing 80,789,409.65 85,612,802.18 -5.97% -10.44% 29.54%
points decreased
According to region
0.66 percentage
China 34,767,490,150.29 29,049,188,785.60 16.45% 7.76% 8.62%
points decreased
0.66 percentage
Overseas 413,975,975.21 409,133,252.74 1.17% 75.33% 76.52%
points decreased
IV、Analysis of Core Competitiveness
In the first half of 2016, CS75-2016, CS15, CX70 were successfully launched into the market. The Company simultaneously
progressed its CS95, CS15-DCT, EADO EV-2017 as planned. The Company sped up the transformation of traditional car to smart
car and R&D of NEV, forming a "654" intelligent strategy and “518” new energy strategy. The Company has mastered over 60
intelligent technology including intelligent interconnection, intelligent interaction, and intelligent driving. On April 12, 2016
Changan driverless vehicle departed from Changan Automobile Global R&D Center in Chongqing and arrived in Beijing on April 17
with total distance over 2000 kilometers, along Xi’an, Zheng Zhou, and Shi Jiazhuang. It set the record of the first longest-distance
driverless driving test. Independent connected car platform was successfully launched by verifying 50 vehicles with total distance
over 200,000 kilometers, solving over 1200 problems and mastering 32 key technologies. As the only Chinese representative,
Changan automobile participated MTC standing for the highest international standards. In the new energy field, Changan automobile
established the safe function development process completely complying with the national standards and self-developed 15 safe
monitoring technologies including “torque monitoring”, “high-pressure safe monitoring”, etc. Development process system and CBU
controllers passed the international authoritative organization certification, and got the first ISO-26262 process and product
authentication certificate. Changan automobile was awarded the title of "China export quality and safety demonstration enterprise"
by the State Quality Inspection Administration, and officially became the first enterprise winning the title as the group enterprise.
Changan automobile won the C-NCAP "safety research and development team award" and "security technology progress award".
Changan Yue Xiang V7 was recognized as ”The 2016 most popular models of the year" by Tencent Car Forum. Changan Eado rally
team ranked 1st in the S2 first station of 2016 China Rally Championship (CRC) opener group, and became the bigggesr dark horse.
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Chongqing Changan Automobile Company Limited 2016 Semi-annual Report
V、Investment analysis
1、Foreign equity investment
（1）Foreign equity investment
√ Applicable □ Not applicable
Foreign equity investment
investment amount during the report investment amount at the same period of last
Variance rate
(Yuan) year (Yuan)
274,595,895.00 - -
Particulars of investees
Companies Principal business Proportion in the investees’ equity (%)
Shenzhen Changan New Energy Auto rental, sales of vehicles and components,
100%
Automobile Service Co.,Ltd. vehicle repair and maintenance
Chongqing Changan Vehicle Networking Sales of Changan brand vehicles and
100%
Technology Co., Ltd. components
Design and development of advanced
Changan UK R&D Center Co.,Ltd. 100%
powertrain of auto engine and transmission
（2）A financial enterprise equity situation
At the
beginning
Initial The final Reporting
Intinial of the The final
Company Type of share number of The final book period Account-in Source
investment period owner-
name Company precent- shares value (yuan) income g subject of stock
cost (yuan) number of ship
age (shares)） (yuan)
shares
(shares)
Available
Initial
Southwest Securities for sale
50,000,000 17,750,000 0.76% 35,500,000 0.76% 257,730,000 4,615,000 investm
Securities Companies financial
ent
assets
Financial Available Initial
Co. of Others 80,000,000 - 5.33% - 5.33% 80,000,000 - for sale investm
CSGC financial ent
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Chongqing Changan Automobile Company Limited 2016 Semi-annual Report
assets
Addition
Chongqing Long-term
al
Auto Others 1,155,000,000 - 35% - 35% 1,112,376,505.83 -42,623,494.17 Equity
investm
Finance Investment
ent
Total 1,285,000,000 17,750,000 -- 35,500,000 -- 1,450,106,505.83 -38,008,494.17 -- --
（3）Securities investments
□ Applicable√ Not applicable
There’s no securities investment during the reporting period
（4）Holding of the equity in other Listing Company
□ Applicable√ Not applicable
There’s no holding of the equity in other Listing Company during the reporting period.
2、Entrusted finance, derivative investments and entrusted loans
There’s no entrusted finance, derivative investments or entrusted loans during the reporting period.
3、Use of raised funds
□ Applicable√ Not applicable
There’s no use of raised funds during the reporting period
4、Analysis of main holding companies and equity companies
Unit: ten thousand yuan
Registered Equity Main operating
Name Main businesses Total assets Net profit
held income
capital
Changan Ford Motor Produce and sell auto and
24,100 USD 50% 4,221,792 5,739,466 917,245
Co., Ltd parts
Changan Mazda Co., Produce and sell auto and
11,097 USD 50% 1,275,975 1,054,600 94,872
Ltd parts
Changan Ford Mazda Produce and sell engine
20,996 USD 50% 254,188 159,581 17,003
Engine Co., Ltd parts
Chongqing Changan Produce and sell auto and
19,000 USD 50% 649,637 477,956 183
Suzuki Automobile Co., parts
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Chongqing Changan Automobile Company Limited 2016 Semi-annual Report
Ltd
Changan PSA Produce and sell auto and
400,000 50% 803,976 147,786 -7,973
Automobiles Co.,Ltd parts
Produce and sell auto and
JMC Holding Co., Ltd. 200,000 50% 945,083 504,512 30,497
parts
During the reporting period, sale volume of joint venture Changan Ford kept stable, to achieve net profit of RMB 9.172 billion and
an increase of 4.27% year-on-year; Changan Mazda with excellent performance of cx-5 and Mazda3 Axela , achieved the car sales
of 91.2 thousand, an increase of 15.59% year-on-year, and the net profit of 0.949 billion yuan, an increase of 14.89% year-on-year.
5、Major projects with non-raised capital investment
Please refer to Notes to Financial Statement VII Items XII” Construction in progress”
VI、Prediction of business performance for Jan-Sept 2016
Alert of loss or significant change in net profit from the beginning of year to the end of next report period or comparing with the
same period of last year, and statement of causations.
□ Applicable √ Not applicable
VII、Statement of the Board on the “non-standard auditors’ report” issued by the CPA on the
current report period
□ Applicable √ Not applicable
VIII、Statement of the Board on the variation and treatment of events that involved in the
“non-standard auditors’ report” issued by the CPA on previous fiscal year
□ Applicable √ Not applicable
IX、The implementation of profit distribution during the reporting period
By May 24, 2016, the Company held the 2015 annual meeting of shareholders. The 2015 annual interest distribution scheme is: The
company's existing total share capital of 4,662,886,108 shares as the base, to all shareholders 10 per share cash delivery 6.4 yuan
(including tax). The equity allocation of A equity registration date is June 27, 2016, Ex dividend date is June 28, 2016, B share the
last trading day of June 27, 2016, ex dividend date for June 28, 2016. The equity registration date for June 30, 2016. The profit
distribution plan has been completed with a total of 2,987,918,471.58 yuan cash dividends.
Special explanation for cash dividend policy
Whether compliance with the regulation stated in the articles of association and
Yes
requirement for resolution of shareholders meeting
Whether the distribution standard and proportion is clear Yes
Whether the related decision procedure and system is complete Yes
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Chongqing Changan Automobile Company Limited 2016 Semi-annual Report
Whether the independent directors work effecitve Yes
Whether the minority shareholders have ample opportunity to express their advise and
Yes
appeal and their legal right and interests is suffiently protected
Whether the adjustment or change on cash dividend policy meets the requirement and
Yes
procedure is compliance and tranparent
X、Preplan of profit allocation and capital reserve converting into share equity during the
reporting period
□ Applicable √ Not Applicable
XI、Registration form for the reception research, communication, interviews and other
activities during the reporting period
Reception
Date manner Reception object Research basic information
object type
See the details of “Changan Automobile:
On-Site Registration form for investors relationship and
2016.1.4 Agency First State Investments
Survey activities on Jan,14, 2016 ” published in
http://irm.cninfo.com.cn on Jan,15, 2016
See the details of “Changan Automobile:
Invesco investment,
On-Site Registration form for investors relationship and
2016.1.15 Agency macquarie capital
Survey activities on Jan,15, 2016 ” published in
securities
http://irm.cninfo.com.cn on Jan,18, 2016
See the details of “Changan Automobile: Registration
On-Site Mingji International form for investors relationship and activities on
2016.1.18 Agency
Survey Investment Corporation Jan,18, 2016 ” published in http://irm.cninfo.com.cn
on Jan,19, 2016
China International See the details of “Changan Automobile:
On-Site Capital Co.,Ltd.、Norway Registration form for investors relationship and
2016.1.20 Agency
Survey Sovereign Investment activities on Jan,20, 2016 ” published in
Funds http://irm.cninfo.com.cn on Jan,21, 2016
Guotai Junan Securities、
ChinaUniversalAssetMan See the details of “Changan Automobile:
On-Site agement Co.,Ltd、Pingan Registration form for investors relationship and
2016.1.21 Agency
Survey Asset Management、 activities on Jan,21, 2016 ” published in
http://irm.cninfo.com.cn on Jan,25, 2016
AHZG、China
International Capital
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Chongqing Changan Automobile Company Limited 2016 Semi-annual Report
Co.,Ltd、Huarong
Securities、Harvest Fund、
China Securities
Guotai Junan Securities、 See the details of “Changan Automobile:
On-Site Western Securities、 Registration form for investors relationship and
2016.1.29 Agency
Survey Huarong Securities、 activities on Jan,29, 2016 ” published in
Tianan Property Insurance http://irm.cninfo.com.cn on Feb 1st, 2016
Southwest Securities、
Tianan Property
See the details of “Changan Automobile:
Insurance、HSBC Jintrust
On-Site Registration form for investors relationship and
2016.2.03 Agency Fund、China Southern
Survey activities on Feb,3, 2016 ” published in
Fund Management、UBS
http://irm.cninfo.com.cn on Feb,4, 2016
Investment Fund
Management Co. , Ltd.
See the details of “Changan Automobile:
Origin Asset
On-Site Registration form for investors relationship and
2016.2.19 Agency Management 、CITIC
Survey activities on Feb,19, 2016 ” published in
Securities
http://irm.cninfo.com.cn on Feb,23, 2016
See the details of “Changan Automobile:
Shanghai Zhengxiang
On-Site Registration form for investors relationship and
2016.2.24 Agency Investment Management
Survey activities on Feb,24, 2016 ” published in
Co. , Ltd.
http://irm.cninfo.com.cn on Feb,26, 2016
Zeal Asset、Bank of China
Asset Management 、
Yingfeng Investment 、
See the details of “Changan Automobile:
Yinhua Fund、Hongshang
On-Site Registration form for investors relationship and
2016.2.26 Agency Asset、ICBC Credit
Survey activities on Feb,26, 2016 ” published in
Suisse、Jianan Fund、
http://irm.cninfo.com.cn on Mar,1st, 2016
China International
Capital Co.,Ltd、Guosen
Securities
See the details of “Changan Automobile:
On-Site Ontario Teachers' Pension Registration form for investors relationship and
2016.3.02 Agency
Survey Fund activities on Mar ,2nd, 2016 ” published in
http://irm.cninfo.com.cn on Mar,3rd, 2016
Societe Generale Global、
See the details of “Changan Automobile:
Truvalue Asset
On-Site Registration form for investors relationship and
2016.3.03 Agency Management、Fosun
Survey activities on Mar,3rd, 2016 ” published in
Group、China Post Fund、
http://irm.cninfo.com.cn on Mar,7, 2016
Pingan Securities
2016.3.03 On-Site Agency Northeast Securities See the details of “Changan Automobile:
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Chongqing Changan Automobile Company Limited 2016 Semi-annual Report
Survey Registration form for investors relationship and
activities on Feb,26, 2016 ” published in
http://irm.cninfo.com.cn on Mar,1st, 2016
Yingfeng Asset、HSBC
Jintrust Fund、Star Rock See the details of “Changan Automobile:
On-Site Investment、South China Registration form for investors relationship and
2016.5.11 Agency
Survey PE Investment Fund、 activities on May,11, 2016 ” published in
China International http://irm.cninfo.com.cn on May,13, 2016
Capital Co.,Ltd
See the details of “Changan Automobile:
On-Site Janus Capital、CITIC Registration form for investors relationship and
2016.5.12 Agency
Survey Lyons Securities activities on May,12, 2016 ” published in
http://irm.cninfo.com.cn on May,13, 2016
See the details of “Changan Automobile:
On-Site Registration form for investors relationship and
2016.5.12 Agency Dacheng Fund
Survey activities on May,11, 2016 ” published in
http://irm.cninfo.com.cn on May,13, 2016
See the details of “Changan Automobile:
On-Site Bernstein、USS、Marshall Registration form for investors relationship and
2016.5.20 Agency
Survey Wace activities on May,11, 2016 ” published in
http://irm.cninfo.com.cn on May,13, 2016
See the details of “Changan Automobile:
On-Site Registration form for investors relationship and
2016.5.20 Agency Bank of Paris
Survey activities on May,20, 2016 ” published in
http://irm.cninfo.com.cn on May,24, 2016
See the details of “Changan Automobile:
On-Site Bank of Paris Asset Registration form for investors relationship and
2016.5.26 Agency
Survey Magement activities on May,26, 2016 ” published in
http://irm.cninfo.com.cn on May,27, 2016
See the details of “Changan Automobile:
On-Site Registration form for investors relationship and
2016.5.27 Agency Minsheng Securities
Survey activities on May,27, 2016 ” published in
http://irm.cninfo.com.cn on May,30, 2016
See the details of “Changan Automobile:
On-Site Bosera Fund、Southwest Registration form for investors relationship and
2016.5.27 Agency
Survey Securities activities on May,20, 2016 ” published in
http://irm.cninfo.com.cn on May,24, 2016
See the details of “Changan Automobile:
On-Site Registration form for investors relationship and
2016.6.15 Agency Mitsubishi UFJ
Survey activities on Jun,15, 2016 ” published in
http://irm.cninfo.com.cn on Jun,17, 2016
16
Chongqing Changan Automobile Company Limited 2016 Semi-annual Report
Blue Box Financial See the details of “Changan Automobile:
On-Site Management Registration form for investors relationship and
2016.6.17 Agency
Survey Corporation、SK Group 、activities on Jun,17, 2016 ” published in
Synergy Fund http://irm.cninfo.com.cn on Jun,21, 2016
See the details of “Changan Automobile:
On-Site Registration form for investors relationship and
2016.6.20 Agency Hufu Securities
Survey activities on Jun,20, 2016 ” published in
http://irm.cninfo.com.cn on Jun,21, 2016
See the details of “Changan Automobile:
On-Site Registration form for investors relationship and
2016.6.23 Agency Fuguo Securities
Survey activities on Jun,23, 2016 ” published in
http://irm.cninfo.com.cn on Jun,24, 2016
See the details of “Changan Automobile:
On-Site Registration form for investors relationship and
2016.6.28 Agency Fuxing Group
Survey activities on Jun,28, 2016 ” published in
http://irm.cninfo.com.cn on Jun,29, 2016
17
Chongqing Changan Automobile Company Limited 2016 Semi-annual Report
V. Significant Events
I、Governance status
The company strictly complies with laws and rules, such as “Company Law”,”Security Law” and “Management Standard of Listed
Company”, and with standard operation based on the standard documents of listed company administration. During the reporting
period, the company issued “Self Evaluation Report of 2015 Internal Control”, and Ernst&Yong Huaming Accounting Firm issued
standard audit report of internal control.
II、Major litigation and arbitration matters
□ applicable √ not applicable
During the reporting period, the company has no major litigation and arbitration matters.
III、Questioned situation by media
□ applicable √not applicable
During the report period the company has no widespread questioned situation by media.
IV、Related matters of bankruptcy and restructure
□ applicable √not applicable
During the report period the company has no related matters of bankruptvy and restructure.
V、Assets transaction matters
1、Acquisition of assets
□ applicable √not applicable
2、sales of assets
□ applicable √not applicable
3、Enterprise merger
□ applicable √not applicable
VI、Implementation and influence of the company equity incentive.
√ applicable □ not applicable
On Mar 30th, 2016, the 2nd conference of the 7th board of directors approved “The company stock option incentive plan (draft)”
18
Chongqing Changan Automobile Company Limited 2016 Semi-annual Report
aiming at granting 31.225 million stock options to incentive targets. The 31.225 million shares account for 0.67% of the total shares
when the incentive plan was signed. From the end of reporting period to the announcement date, on Aug 12th, 2016, the 9th
conference of the 7th board of directors approved “The company stock option incentive plan (revised draft)” aiming at granting
29.275 million stock options to incentive targets. The 29.275 million shares account for 0.628% of the total shares when the
incentive plan was signed. The related matters of the stock option incentive plan shall be approved by the 5th temporary stockholders'
meeting.
VII、Major relevant transaction.
1、Related party transaction related with daily operation.
For the detail, refer to Note 12 of the consolidated financial statements.
2、Related party transaction at asset acquisition and sales.
□ applicable √not applicable
3、Joint investment of significant related party transactions
□ applicable √not applicable
4、Related credits and liabilities
√ Available □Not available
For the detail, refer to Note 12 of the consolidated financial statements.
5、Other major related transaction.
Temporary Temporary announcement website
Name of temporary announcement
announcement date name
About non-public A-share stock issue involving related-party
2016.3.31 http://www.cninfo.com.cn
transactions
About stock option incentive involving related-party transactions 2016.3.31 http://www.cninfo.com.cn
The Estimate of Daily Related-party Transactions Announcement for
2016.4.19 http://www.cninfo.com.cn
2016
Related-party transactions announcement about the Financial Co. of
2016.4.19 http://www.cninfo.com.cn
CSGC providing financial service for the company
Related-party transactions announcement about using United
2016.4.19 http://www.cninfo.com.cn
Prosperity (HongKong) Investment Co., Ltd for trade financing
Related-party transactions announcement about Chongqing 2016.4.19
19
Chongqing Changan Automobile Company Limited 2016 Semi-annual Report
Automobile Finance Co., LTD providing financial service for the http://www.cninfo.com.cn
company
VIII、The non-operating fund occupation situation of the controlling shareholders and their
affiliates to the listed companies
□ applicable √not applicable
IX、Important contract and implementation.
1、Matters regarding hosting, contracting and leasing.
（1）Hosting
Projects whose profit and loss brought to the company accounte for 10% of the total profits during the company reporting period.
□ applicable √not applicable
（2）Contracting
Projects whose profit and loss brought to the company accounte for 10% of the total profits during the company reporting period.
□ applicable √not applicable
（3）Leasing
Projects whose profit and loss brought to the company accounte for 10% of the total profits during the company reporting period.
□ applicable √not applicable
2、Guarantee
During the report period, the company has no gurarantee.
3、Other important contract.
□ applicable √not applicable
4、Other important transaction.
□ applicable √not applicable
X、Commitments of the company or shareholders holding more than 5% shares during the
report period or during former period but continuing to this report period.
Commitment Item Promisee Promise content Performance
20
Chongqing Changan Automobile Company Limited 2016 Semi-annual Report
As of the end of the reporting period, CCAG, the
1.The Company will abide by the laws,
Company’s shareholder held 373,358,342 shares
regulations and rules, to perform the
with selling restrictions, which will be lifted after
legal obligations.
the implementation of management share
2. Held by the original non-tradable
incentive plan according to the commitments of
shares from obtaining the right to list
shareholding reform. During the reporting period,
and trade date, At least 24 months is not
according to CCAG’s document “A
publicly traded or transferred, The 24
Supplementary Explanation to Participating in the
months after the expiration of the term
Share Split Reform of Chongqing Changan
of, Non-tradable shareholders stock
Automobile Co., Ltd.”, the Company confirmed
The commitments of exchange through the sale of shares, The
China Changan that it would implement the management share
stock reform sale of shares of the company accounted
incentive plan before June 30, 2016, according to
for the proportion of the total number of
relevant national regulations and measures. During
within 12 months and not more than five
the reporting period, “The company stock option
percent, In 24 months of no more than
incentive plan(draft)” was passed in the 2nd
ten percent.
conference of the 7th board of directors. From the
3. The company implementing the
end of the reporting period to the announcement
management equity incentive plan after
date, “The company stock option incentive plan
the stock split reform according to the
(revised draft)” was passed in the 9th conference
national related management systems
of the 7th board of directors and shall be approved
and methods.
by the 5th temporary shareholders meeting.
In order to avoid and eventually solve
the possible competition or potential
competitors, Better maintain the interests
of investors, the company controlling
shareholder China Changan The Harbin Hf Automobile Industry Group Co at
Other small
commitment: In two consecutive years present is still running at a loss, The conditions
shareholders China Changan
profit of Harbin Hf Automobile Industry have not yet reached the profitable for two
commitment
Group Co, With the continuous consecutive years.
development ability and management
level is improved significantly under the
condition of, Proposed that enterprises
into the company.
XI、Cases of employing and dismissing accounting firm
Whether the semi-annual financial report has been audited or not
□ applicable √ not applicable
XII、Punishment and rectification case
Statement of rectification
□ applicable √ not applicable
21
Chongqing Changan Automobile Company Limited 2016 Semi-annual Report
XIII、Illegal delisting risk disclosure
□ applicable √ not applicable
XIV、Statement of other important matters
√applicable □ not applicable
On Mar 7, 2016, the 42th conference of the 6th board of directors approved the “Bill about the 7th board of directors election”. The
company elected Xu Liuping, Zhang Baolin, Zhu Huarong, Zhou Zhiping, Tan Xiaogang, Wang Xiaoxiang, and Wang Kun as the
candidates of the 7th board of directors. At the same time, the board of directors nominated Shuai Tianlong, Liu Jipeng, Li Xiang, Li
Qingwen, Tan Xiaosheng, Hu Yu, Pang Yong, Chen Shiquan as the independent director candidates of the 7th board of directors. On
Mar 7, 2016, the 19th conference of the 6th board of supervisors approved the “bill the 7th board of supervisors election”. The
company elected Xiao Yong, Sun Dahong, Zhao Huixia as the supervisor candidates of the 7th board of supervisors. The employee
representatives meeting elected Zhang Anguo, Luo Yan as the employee supervisors of 7th board of supervisors. On Mar 23, 2016,
the 1st temporary stockholders' meeting approved the “Bill about the 7th board of directors election”” and “Bill about the 7th board
of supervisors election”.
The company stock was suspended trading since March 2 for planning major matters. On Mar 30, 2016, the 2nd conference of the
7th board of directors approved “Bill about withdrawing the 2016 non-public offering application documents” and “plan about 2016
non-public offering” and other bill documents. The 2016 non-public sshares were issued to China Changan Automobile Co., Ltd.with
total subscription amount of 2 billion Yuan. At the end of the reporting period, the withdrawing of 2015 non-public offering
application document has been approved by the CSRC (China Securities Regulatory Commission). The 2016 non-public offering
application related matters has been approved by SASAC (State-owned Assets Supervision and Administration Commission) and the
2nd temporary stockholders' meeting. (Bullein Number: 2016-51). On Jun 29, 2016, the 2016 non-public offering application were
approved by the issuance examination committee of CSRC.
XV、Corporate bonds
Whether there is corporate bonds issued in public and listed on the stock exchange, and not fully paid in the annual report quoted due
day before maturity or due day
√Applicable □non-applicable
1、 Basic information of corporate bonds
Bond
bond balance
bond interes Servicing way
bond name short issue day due day (ten
code t rate
name thousand
yuan)
Corporate On/up interest day: April 23, 2012.
bonds of 12 Payment date: from 2013 to 2017 every year
11207
Chongqing Changa 2012.04.23 2017.04.23 198,000 5.30% on April 23 for a draw on the annual payment
9
Changan n debt date (in case of legal holidays or rest days,
Automobil automatically postponed to the following first
22
Chongqing Changan Automobile Company Limited 2016 Semi-annual Report
e Co., working day).
LTD., To honour day: April 23 of 2017 (in case of
2012 legal holidays or rest days, automatically
postponed to the following first working day).
Servicing way: using simple interest rate on a
yearly basis, regardless of compound interest,
extra interest doesn’t incur form overdue
situation. Due payments once a year,
maturing debt at a time. In the final phase,
interest is paid together with the principal
redemption.
Corporate bonds
listed or trading Listed in Shenzhen Stock Exchange
places
Investors appropriate
For qualified investors
arrangement
According to 2012 company bond rate announcement of Chongqing Changan Automobile Co., LTD., the
current bond rate is 5.30%. Each 1000-yuan face value of bonds entails the interest of RMB 53.00 yuan
During the reporting
(including tax). After the tax collection, the actual distributing interest for the individual and the securities
period, interest
investment fund bond holders is RMB42.40 yuan for each; after the tax collection, the actual distributing
payment situation of
interest of a non-resident enterprise (including QFII, RQFII) is RMB 47.70 yuan for each.
the company bonds
The company in 2016 pays RMB 104.88 million yuan of bond interest; Creditor's rights registration day:
April 22, 2016; Ex-dividend day: April 25, 2016. Payment date: April 25, 2016.
2、 Bond trustee and the credit rating agency information
Bond trustee：
No. 1101, the 11st
Haitong Securities
floor of Taikang
Co., LTD.
International
(hereinafter office Li
Name Building, No. 2 of contact Tel 010-58067801
referred to as the address Shiwen
Wudinghou Street, of
"Haitong
West city district,
securities")
Beijing.
The credit rating agencies which follow and rate the corporate bond during the reporting period
No. 2 PICC Building 12 layer, Broadway
Name Joint Credit Rating Co., LTD office address street, Chaoyang District,Beijing
(100022)
23
Chongqing Changan Automobile Company Limited 2016 Semi-annual Report
3、 The usage of corporate bonds to raise money
The twenty-sixth session of the fifth board of directors meeting held on January 16th, 2012,
and the extraordinary shareholders' general meeting for the first time on Feburary 3rd, 2012,
passed the bill on issuance of company bonds. On March 26, 2012, the company received
the approval of China securities regulatory commission about Chongqing Changan
Automobile co., LTD., a public approval of the issuance of company bonds "(regulatory
The usage and performance of
permission [2012] no. 388), and the company was granted to issue corporate bonds to the
raised funds from Corporate bonds
public with face value less than 1.98 billion yuan.
As of April 26, 2012, the company has completed relevant work of bond issue, raising
money 1.98 billion yuan. The bond is a five-year variety with a fixed interest rate of 5.30%.
The funds after the deduction of distribution costs in this issuance were completely used to
supplement the company's liquidity.
At the end of balance (ten thousand) 0
Raise money for special account
Operate orderly
operation
Whether the usage of the raised
money corresponding to the
Unanimous
purposes of promise, use plans, and
other agreement
4、 Corporate bond rating information
According to the China securities regulatory commission "corporate bond issuance and trading management measure"
(hereinafter referred to as the "management measures"), the listing rules for "corporate bonds"of Shenzhen Stock Exchange and other
regulations, Joint Credit Rating Co., LTD followed the credit rating for the company's issuance of corporate bonds. Joint Credit
Rating Co., LTD issued the analysis report of tracking rating 2012 corporate bonds for Chongqing changan automobile co., ltd. on
June 15, 2016 and maintained the credit rating of "AAA" for Changan Automobile with the outlook of "stable"; At the same time it
maintained "AAA" credit rating" for 12 changan debt. (Detailed information, please refer to http://www.cninfo.com.cn for the 2016
analysis report of tracking rating 2012 corporate bonds for Chongqing changan automobile co.,ltd. On June 16, 2016).
5、 Corporate bond credit mechanism, the debt repayment plans and other security measures
√Applicable □non-applicable
(1) The credit mechanism
This bond is guaranteed by China changan with full, unconditional, irrevocable and joint liability, and the scope of the
guarantor’s guarantee includes the current debt principal and interest, as well as the penalty due to breach of contract, compensation
for damage, the cost of the creditor's rights and other fees. As for the main financial indicators of the guarantor, please refer to the
chapter "The guarantor’s financial statements during the reporting period.
(2) The repayment plan
①The interest payment
24
Chongqing Changan Automobile Company Limited 2016 Semi-annual Report
A. Due payments once a year, maturing debt at a time. In the final phase, interest is paid together with the principal redemption.
No interest incurs from each interest payment since payment date. This bond payment date from 2013 to 2017 for every year on April
23 (in case of legal holidays or rest days, automatically postponed to the following first working day, and no additional interest
payments during the postponing period).
B. The bond interest paid by bonds registration institution and related institutions. Specific item of the interest payments will be
released in the designated media by the competent department of media in accordance with the relevant provisions of the state.
C. According to the national tax laws and regulations, investors should pay the relevant taxes and fees generated from the bonds.
②The payment of the principal
A. Debt to the maturity of bonds for the issuance..
B. This bond redemption date for April 23, 2017 (in case of legal holidays or rest days, automatically postponed to the following
first working day, and no additional interest payments during the postponing period).
C. The bond principal paid by bonds registration institution and related institutions. Specific item of the principal payments will
be released in the designated media by the competent department of media in accordance with the relevant provisions of the state.
(3) The debt repayment guarantee measures
In order to fully and effectively safeguard the interests of the bondholders, the company set up a series of work plans for the
timely repayment of the issue bonds with full specified amount at once, including a specific department and personnel, the
arrangement of a sinking fund, the management measures, the organization and coordination, the strengthening of information
disclosure, etc., and the repayment guarantee measures are as follows:
①Develop the bondholder meeting rules
The Company in accordance with the requirements of the "management method" made “The bondholder meeting rules”. “The
bondholder meeting rules” agreed on the scope, procedures and other important issues of bondholders’ rights through bondholders
meeting, to ensure the system arrangement for the timely repayment of the company debt principal and interest.
②Hire a bond trustee
In accordance with the "management measure" regulation, the Company employed Haitong Securities as the trustee of the
current debt and concluded with Haitong Securities on the "bond trustee agreement". During the exsiting period, the Haitong
Securities in accordance with the agreement of the bond trustee agreement was on behalf of the interests of the current bondholders.
The Company, in strict accordance with the provisions of the bond trustee agreement, cooperated with the bond trustee to perform its
duties, and submitted the execution of the promise to the bond trustee on a regular basis, and informed the bond trustee and the
guarantor in the case of default in order to start the corresponding security program in time, or other necessary measures according to
the bond trustee agreement.
③Strict capital management plan
After this bond issuance, according to the situation of the debt structure, the company further enhanced the company's assets and
liabilities management, liquidity management, use management of raised funds and was subject to future debt principal and interest
payable based on the annual and monthly fund use plan, guarantee the capital schedule as planned to conduct the timely and full
repayment of the interest and principal and protect the interests of investors.
④Strict information disclosure
The Company will follow the principle of true, accurate and complete information disclosure, and the company debt paying
ability, the usage situation of the raised money and so on will be supervised by bond holders, bond entrusted managers and
shareholders in order to guard against insolvency risk. According to the bond trustee agreement and the relevant provisions of China
securities regulatory commission on information disclosure of important matters, the following matters are included at least: The
difficulty of repaying the maturing debt interest and/or principal; the company guarantees and other important contracts may impact
majorly on the servicing ability; A major loss or substantial losses with more than 10% of the Company's net worth; The decreasing
25
Chongqing Changan Automobile Company Limited 2016 Semi-annual Report
investment, merger, division, dissolution, filed for bankruptcy and other situations change the subject of the company; A major
arbitration or litigation may heavily influence the company’s servicing ability; the major restructuring of debt may heavily influence
the company servicing ability; the Company changes the guarantee way of related information;The Company or the bond credit
rating encounters a serious adverse change; the change of the bond trustee; the trading of the bonds are suspended; Other significant
matters may affect the interests of the bondholders; Other circumstances stipulated by the China securities regulatory commission.
⑤Other security measures
According to the approval from the twenty-sixth session of the fifth board of directors meeting, and the extraordinary
shareholders' general meeting for the first time in 2012, if the Company estimates the difficulty of repaying the debt principal and
interest on schedule or failed to repay debt principal and interest on schedule, the Company at least takes the following measures: no
distribution of profits to its shareholders; A moratorium on the major foreign investment, mergers and acquisitions, capital
expenditure; and lower the salary/wages and bonuses of directors and senior management personnel; The main responsible person
shall not be transferred.
6、 During the reporting period the bondholder meeting
During the reporting period, the company did not hold bondholders meeting.
7、 During the reporting period the bond trustee perform his duties
According to the China securities regulatory commission "corporate bond issuance and trading management measure"
(hereinafter referred to as the "management measures"), the listing rules for "corporate bonds"of Shenzhen Stock Exchange and other
regulations, Haitong Securities issued “Trustee transaction report Chongqing Changan Automobile 2012 Corporate Bonds (2015)
“ on May 19th, 2016 (Detailed information, please refer to http://www.cninfo.com.cn).
8、During the reporting period, the company's major accounting data and financial indicators for last 2
years
Comparison between the
At the end of the
Project At the end of last year reporting period and the
reporting period
end of last year
liquidity ratio 101.57% 106.14% -4.57%
Asset-liability ratio 61.70% 61.78% -0.08%
Quick action ratio 80.94% 87.67% -6.73%
Comparison between the
The same period of
Project The reporting period reporting period and the end
last year
of last year
EBITDA multiple of interest
safeguard(earnings before
interests,taxation, depreciation and
118.11 105.88 11.55%
amortization/interest expense
included in the financial charge+
capitalization interest expense)
26
Chongqing Changan Automobile Company Limited 2016 Semi-annual Report
Loan payment rate(actual loan
payment/ demanded loan 100.00% 100.00% 0.00%
payment )
Interest rate of pay(actual interest
rate of pay/ demanded interest rate 100.00% 100.00% 0.00%
of pay )
The main reason that the accounting data and financial indicators yoy change more than 30%
□Applicable √non-applicable
9、Property rights limits by the end of report period
Unit：Yuan
book value at the end of
Item Limited company Limited Reason
this year
Chongqing Changan Special
Automobile Sales Co., Ltd
Monetary fund 241,660,389.85 Used to open the acceptance deposit
Baoding Changan Bus Manufacturing
Co., Ltd.
Baoding Changan Bus Manufacturing Accounts receivable pledge for
Accounts receivable 614,589,359.14 Co., Ltd. short-term borrowing from the South
Industry Group
Baoding Changan Bus Manufacturing Notes receivable pledge to issue notes
Notes receivable 38,000,000.00
Co., Ltd. payable
Baoding Changan Bus Manufacturing Notes receivable pledge to issue notes
Fixed assets 36,724,819.62
Co., Ltd. payable
Baoding Changan Bus Manufacturing The land use right mortgage for
Intangible assets 28,416,034.04 Co., Ltd. short-term borrowing from the South
Industry Group
Total 959,390,602.65
Note: Changan Baoding Bus Manufacturing Co., Ltd. is a wholly owned subsidiary of the company; Chongqing Changan Special
Automobile Sales Co., Ltd. is a subsidiary of the company, the shareholding ratio of 50%.
10、overdue debt
□Applicable √non-applicable
27
Chongqing Changan Automobile Company Limited 2016 Semi-annual Report
There is no overdue debt in the company.
11、During the report period interest payment for other bonds and debt financing tool
□Applicable √non-applicable
12、During the reporting period obtain bank credit, its use situation and repayment of bank loans
At the end of June,2016, the company got the bank credit amount of RMB 31.2 billion yuan. Until June 30, 2016, the actual use
of credit is 21.9 billion yuan; in 2016 the Company repaid all bank loans on time with no late repayment.
13、During the reporting period the situation of performing the related agreement or commitment in the
corporate bond prospectus
On April 25, 2016 the company paid the interest bonds of “12 Changan Debt" from April 23, 2015 to April 22, 2016 (details
refer to 2012 corporate bonds 2016 interest-payment annuouncement by the company on April 19, 2016 on the webnsite
http://www.cninfo.com.cn ).
14、Major events occurring in the period of report
√Applicable □non-applicable
See details in the 6th item “the company equity incentive implementation and influence” and the 14th item “other major events
illustration” of the fifth section of the 2016 semi-annual report.
15、Whether there is a guarantor corporate bonds
√Applicable □non-applicable
The guarantor of the corporate bond is a legal person or other organizations
√Applicable □non-applicable
Whether to disclose the guarantor’s financial statements during the reporting period, including the balance sheet, income statement,
the cash flow statement, statement of changes in owner's equity (shareholders' equity) and the notes to financial statements.
√Applicable □non-applicable
15、The guarantor financial statements during the reporting period
Content can be found in relevant announcements on August 30, 2016, and published on the website of network
(www.cninfo.com.cn).
28
Chongqing Changan Automobile Company Limited 2016 Semi-annual Report
VI Stake Change and shareholders Information
I、Stake changes
before this change increase or decrease of this change after this change
issue
Proportion Proportion
Amount new Bonus Equity Fund Other Subtotal Amount
(%) (%)
shares
1、Shares of limited sale
373,377,242 8.01% 373,377,242 8.01%
condition
(1)Shareholdings of
state-owned legal 373,358,342 8.01% 373,358,342 8.01%
personnel
(2)Shares of senior
18,900 0% 18,900 0%
managers
2、Shares of infinite sale
4,289,508,866 91.99% 4,289,508,866 91.99%
condition
(1)RMB common stake 3,387,522,724 72.65% 3,387,522,724 72.65%
(2)Foreign shares listed
901,986,142 19.34% 901,986,142 19.34%
abroad
3、Total shares 4,662,886,108 100% 4,662,886,108 100%
Reason of stake change
□ applicable √ not applicable
Approval of stake change
□ applicable √ not applicable
Ownership transfer of stake change
□ applicable √ not applicable
The influence of share change on financial indicators, such as the latest year and the latest basic earnings per share and diluted
earnings per share, the net assets per share belonging to the common shareholder of the company
□ applicable √ not applicable
Other contents which the company thinks it’s necessary and securities supervison institution requires to disclose
□ applicable √ not applicable
Statement of change of total shares and shareholder structure, corporate assets and liabilities structure
29
Chongqing Changan Automobile Company Limited 2016 Semi-annual Report
□ applicable √ not applicable
Change in Non-circulated shares
Non-circulated Non-circulated
Decrease during the Increase during the Reason for Date for the
Name of shareholders shares held at the shares held at the
reporting period reporting period non-circulated shares circulated shares
year-begining year-end
After the listed
China Changan Stock reform
373,358,342 - - 373,358,342 company implement
Automobile Co., Ltd. commitment
equity incentive
6 months after the
Zhu Huarong 18,900 - - 18,900 Mangement shares
retirement
Total 373,377,242 - - 373,377,242 -- --
II、Amount of shareholders and shareholdings
Unit: 1 share
Total amount of shareholders at the The total amount of shareholders is 178,136, and A shareholder is155,308, B shareholder
end of report period is 22,828.
Shareholders’ holdings whose shares are over 5%.
Shareholding changes Pledge or freezing
Share amount Share amount
Nature of amount at the during the situation
Shareholder Name stake（%） of limited sale of infinite
shareholders end of report report
condition share condition share status amount
period period
China Changan State-owned
No pledge or
Automobile Co., legal person 39.11% 1,823,595,216 - 373,358,342 1,450,236,874
freeze
Ltd. shares
Domestic general
China securities No pledge or
legal person 3.07% 143,045,927 3,623,079 143,045,927
finance Co, Ltd freeze
shares
GIC PRIVATE Foreign legal No pledge or
1.26% 58,556,735 14,009,684 58,556,735
LIMITED person shares freeze
Domestic general
Central Huijin No pledge or
legal person 1.19% 55,393,100 - 55,393,100
Investment Ltd. freeze
shares
United Prosperity
Foreign legal No pledge or
Investment Co., 0.97% 45,195,100 - 45,195,100
person shares freeze
Limited
National Social Domestic general No pledge or
0.75% 34,999,794 4,999,921 34,999,794
Security Fund- legal person freeze
30
Chongqing Changan Automobile Company Limited 2016 Semi-annual Report
Portfolio 102 shares
HTHK-MANULIFE
Foreign legal No pledge or
CHINA VALUE 0.74% 34,445,336 -74,445 34,445,336
person shares freeze
FUND
National Social Domestic general
No pledge or
Security Fund- legal person 0.69% 32,009,961 8,909,976 32,009,961
freeze
Portfolio 103 shares
National Social Domestic general
No pledge or
Security Fund- legal person 0.67% 31,074,961 31,074,961 31,074,961
freeze
Portfolio 113 shares
VALUE PARTNERS
Foreign legal No pledge or
HIGH-DIVIDEND 0.62% 28,823,840 17,916,548 28,823,840
person shares freeze
STOCKS FUNDS
Top 10 Shareholder Information of Infinite Sale Condition
Share amount of infinite sale stock class
Shareholder Name
condition at the end of report period stock class amount
RMB Common
China Changan Automobile Co., Ltd. 1,450,236,874 1,450,236,874
Stock
RMB Common
China securities finance Co, Ltd 143,045,927 143,045,927
Stock
domestic foreign
GIC PRIVATE LIMITED 58,556,735 58,556,735
share
RMB Common
Central Huijin Investment Ltd. 55,393,100 55,393,100
Stock
domestic foreign
United Prosperity Investment Co., Limited 45,195,100 45,195,100
share
RMB Common
National Social Security Fund- Portfolio 102 34,999,794 34,999,794
Stock
domestic foreign
HTHK-MANULIFE CHINA VALUE FUND 34,445,336 34,445,336
share
RMB Common
National Social Security Fund- Portfolio 103 32,009,961 32,009,961
Stock
RMB Common
National Social Security Fund- Portfolio 113 31,074,961 31,074,961
Stock
VALUE PARTNERS HIGH-DIVIDEND STOCKS domestic foreign
28,823,840 28,823,840
FUNDS share
Correlation or concerted action among top 10 infinite Among the top 10 shareholders, China Changan Automobile Group Co.,
sale tradable share holders, and between top 10 infinite Ltd., the controlling shareholder, and its wholly owned subsidiary United
sale tradable share holders and top 10 shareholders. Prosperity Investment Co., Limited belong to the concerted actor regulated
31
Chongqing Changan Automobile Company Limited 2016 Semi-annual Report
by “Disclosure Administration of Shares Change Information of The Listed
Company”.
If any repurchase transaction appointment of shareholders during the reporting period
□ Yes √ No
The company top 10 shareholders of ordinary shares, and the top 10 circulated shareholders did not agree on the repurchase
transactions during the reporting period.
III、Changes of controlling shareholders or actual controller.
Changes of controlling shareholders during the reporting period
□ applicable √not applicable
Changes of actual controllers during the reporting period
□ applicable √not applicable
32
Chongqing Changan Automobile Company Limited 2016 Semi-annual Report
VII Directors, Supervisors and Senior Managers Information
I、Share ownership of directors, supervisors and senior managers
□ applicable √not applicable
The share ownership of the directors, supervisors and senior managers has no change during the reporting period. For details, plaese
refer to 2015 annual report.
II、Departure and Hiring information of the directors, supervisors and senior manager
Name Duties Type Date Reason
Xu Liuping Board Chairman Voted 2016.3.23 Job demand
Zhang Baolin Vice Chairman Voted 2016.3.23 Job demand
Zhu Huarong Director and President Voted 2016.3.23 Job demand
Zhou Zhiping Director and secretary of party committee Voted 2016.3.23 Job demand
Tan Xiaogang Director Voted 2016.3.23 Job demand
Wang Xiaoxiang Director Voted 2016.3.23 Job demand
Wang Kun Director, Vice President and Board Secretary (acting) Voted 2016.3.23 Job demand
Shuai Tianlong Independent director Outgoing 2016.6.21 pass away for illness
Liu Jipeng Independent director Voted 2016.3.23 Job demand
Li Xiang Independent director Outgoing 2016.8.22 Personal reasons
Li Qingwen Independent director Voted 2016.3.23 Job demand
Tan Xiaosheng Independent director Voted 2016.3.23 Job demand
Hu Yu Independent director Voted 2016.3.23 Job demand
Pang Yong Independent director Voted 2016.3.23 Job demand
Chen Quanshi Independent director Voted 2016.3.23 Job demand
Xiao Yong Chairman of the Board of Supervisors Voted 2016.3.23 Job demand
Sun Dahong Supervisor Voted 2016.3.23 Job demand
Zhao Huixia Supervisor Voted 2016.3.23 Job demand
Zhang Anguo Staff supervisor Voted 2016.3.23 Job demand
Luo Yan Staff supervisor Voted 2016.3.23 Job demand
Huang Appointment 2016.3.23 Job demand
Vice President
Zhongqiang
Luo Minggang Vice President Appointment 2016.3.23 Job demand
Du Yi Vice President Appointment 2016.3.23 Job demand
Gong Bing Vice President Appointment 2016.3.23 Job demand
Wang Jun Vice President Appointment 2016.3.23 Job demand
Liu Bo Vice President Appointment 2016.3.23 Job demand
33
Chongqing Changan Automobile Company Limited 2016 Semi-annual Report
He Chaobing Vice President Appointment 2016.3.23 Job demand
Zhang Jingjing Vice President Appointment 2016.3.23 Job demand
Yuan Mingxue Vice President Appointment 2016.3.23 Job demand
Li Wei Vice President Appointment 2016.3.23 Job demand
Outgoing 2016.3.23 Change the term of
Lian Gang Director
board of directors
Outgoing 2016.3.23 Change the term of
Zhang Dongjun Director
board of directors
Change the term of
Ma Junpo Director Outgoing 2016.3.23
board of directors
Change the term of
Ouyang Minggao Independent director Outgoing 2016.3.23
board of directors
Change the term of
Dong Yang Independent director Outgoing 2016.3.23
board of directors
Change the term of
Chen Zhong Independent director Outgoing 2016.3.23
board of directors
Change the term of
Wang Zhixiong Independent director Outgoing 2016.3.23
board of directors
Change the term of
Peng Shaoping Independent director Outgoing 2016.3.23
board of directors
Change the term of
Yang Jian Chairman of the Board of Supervisors Outgoing 2016.3.23
board of supervisors
Change the term of
Cai Yong Supervisors Outgoing 2016.3.23
board of supervisors
Change the term of
Xie ShiKang Supervisors Outgoing 2016.3.23
board of supervisors
Liang Change the term of
Supervisors Outgoing 2016.3.23
Guangzhong board of supervisors
Change the term of
Liu Hong Staff Supervisors Outgoing 2016.3.23
board of supervisors
change the term of
Fan Chaodong Staff Supervisors Outgoing 2016.3.23
board of supervisors
change the term of
Wang Lijun Staff Supervisors Outgoing 2016.3.23
board of supervisors
34
Chongqing Changan Automobile Company Limited 2016 Semi-annual Report
VIII Audited Financial Statements
I Auditing Report
Semi-annual report is audited
□Yes √ No
No audit on the semi-annual financial report.
II Financial statement
Financial in notes to the statements of the unit is: RMB yuan
1、Consolidated Balance Sheet
Account Ending Balance Opening Balance
Current assets:
Cash 21,358,313,852.95 18,035,109,674.21
Notes receivable 19,833,239,225.55 22,683,096,211.46
Accounts receivable 1,479,933,520.99 875,479,556.55
Prepayments 990,813,049.92 852,071,794.54
Interest receivable 16,881,866.68 15,295,866.67
Dividends receivable 23,684,883.31 23,684,883.31
Other receivables 1,237,474,240.98 1,001,485,245.40
The purchase of resold financial
- -
assets
Inventories 10,211,642,671.44 8,129,075,131.92
Divided into holding assets on sale
Non-current assets due within one year
Other current assets 6,933,522.91 8,909,736.44
Total current assets 55,158,916,834.73 51,624,208,100.50
Non-current assets:
Available-for-sale financial assets 437,091,274.00 530,811,274.00
Held-to-maturity assets
Long-term receivables
Long-term equity investments 15,780,876,706.47 14,906,500,436.49
Investment properties 7,896,340.18 8,009,695.96
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Chongqing Changan Automobile Company Limited 2016 Semi-annual Report
Fixed assets 13,776,741,576.90 13,910,237,530.81
Construction in progress 4,651,721,477.89 3,063,874,006.92
Construction materials 96,690.75 96,690.75
Liquidation of fixed assets - 12,412.53
Intangible assets 3,449,486,686.82 2,843,331,742.67
Devlopment expenditure 848,690,026.77 1,093,462,382.64
Goodwill 9,804,394.00 9,804,394.00
Long-term deferred expenses 13,848,467.13 8,028,811.27
Deferred tax liabilities 1,343,513,682.73 1,415,611,191.12
Other non-current assets
Total non-current assets 40,319,767,323.64 37,789,780,569.16
Total assets 95,478,684,158.37 89,413,988,669.66
Current liabilities:
Short-term loans 166,214,513.55 50,000,000.00
Notes payable 22,144,405,905.63 18,662,900,601.34
Accounts payable 15,782,320,390.98 14,973,826,566.55
Advances from customers 7,213,729,625.15 7,326,612,631.20
Payroll payable 1,038,333,674.50 1,499,613,879.78
Taxes payable 64,371,483.38 356,749,196.49
Interest payables 20,988,000.00 73,458,000.00
Dividend payables 79,742.80 79,742.80
Other payables 1,799,244,498.69 1,762,874,858.05
Non-current liabilities due within
1,977,061,559.83
one year
other current liabilities 4,098,277,954.87 3,930,898,961.15
Total current liabilities 54,305,027,349.38 48,637,014,437.36
Non-current liabilities:
Long-term loans
Bonds payable - 1,975,102,599.85
Long-term payable 8,140,247.07 -
Long term payroll payable 100,643,134.39 106,622,000.00
Special payable 159,830,536.97 164,121,780.05
Contingent liabilities 1,697,938,675.19 1,641,676,220.15
Deferred earnings 2,598,917,112.18 2,666,543,408.82
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Chongqing Changan Automobile Company Limited 2016 Semi-annual Report
Deferred tax liabilities 36,546,829.50 49,285,500.00
Other current liabilities
Total other current liabilities 4,602,016,535.30 6,603,351,508.87
Total liabilities 58,907,043,884.68 55,240,365,946.23
Owners’ equity:
Share capital 4,662,886,108.00 4,662,886,108.00
Capital reserves 3,227,489,320.83 3,227,489,320.83
reduce: inventory shares
Other Comprehensive Income 147,870,075.29 242,110,844.54
Special reserves 25,461,670.25 22,036,479.54
Special reserves 2,331,443,054.00 2,331,443,054.00
Preparation for general risk
Retained earnings 26,402,293,374.19 23,899,223,263.45
Equity attributable to owners 36,797,443,602.56 34,385,189,070.36
Minority interests -225,803,328.87 -211,566,346.93
Total equity 36,571,640,273.69 34,173,622,723.43
Total liabilities and owener’s equity 95,478,684,158.37 89,413,988,669.66
2、Balance sheet
Account Ending Balance Opening Balance
Current assets:
Cash 20,438,337,541.18 17,223,403,333.90
Financial assets at fair value
through profit or loss
Derived financial assets
Notes receivable 19,391,280,333.50 22,362,236,477.47
Accounts receivable 5,154,585,484.22 3,395,349,268.28
Prepayments 844,683,802.07 671,459,087.17
Interest receivable 16,881,866.68 15,295,866.67
Dividend receivable 23,684,883.31 23,684,883.31
Other receivables 1,162,079,696.56 1,020,947,609.26
Inventories 9,060,112,614.45 7,034,843,877.19
Assets classified as available for sale
Non-current assets within one year
37
Chongqing Changan Automobile Company Limited 2016 Semi-annual Report
Other current assets -9,354.21 -
Total current assets 56,091,636,867.76 51,747,220,403.25
Non-current assets
Available-for-sale financial assets 437,091,274.00 530,811,274.00
Held-to-maturity investments
Long-term receivables
Long-term equity investments 17,383,612,426.83 16,234,640,261.85
Investment properties
Fixed assets 11,071,572,846.22 11,439,456,287.51
Construction in progress 4,007,109,188.82 2,694,046,285.96
Construction materials 96,690.75 96,690.75
Intangible assets 2,843,917,168.17 2,549,877,967.28
Development expenditure 736,899,868.69 973,680,610.53
Goodwill
Long-term deferred expenses 12,819,616.00 5,734,664.00
Deferred tax assets 1,279,417,762.34 1,311,976,033.85
Other non-current assets - 184,595,895.00
Total non-current assets 37,772,536,841.82 35,924,915,970.73
Total assets 93,864,173,709.58 87,672,136,373.98
Current liabilities：
Short-term loans
Notes payable 21,373,132,358.13 17,867,862,639.24
Accounts payable 13,718,790,257.42 12,261,927,977.59
Advances from customers 7,144,172,116.74 7,244,681,597.34
Payroll payable 926,670,974.07 1,340,616,604.42
Taxes payable 342,277,187.93 685,518,624.02
Interest payables 20,988,000.00 73,458,000.00
Dividend payables
Other payables 1,645,788,284.26 1,715,127,488.12
Liabilities classified as available
for sale
Non-current liabilities within one
1,977,061,559.83 -
year
Other current liabilities 3,751,355,647.57 3,751,184,504.59
38
Chongqing Changan Automobile Company Limited 2016 Semi-annual Report
Total current liabilities 50,900,236,385.95 44,940,377,435.32
Non-current liabilities：
Long-term loans
Bonds payable - 1,975,102,599.85
Long-term payroll payables 82,435,294.94 87,565,000.00
Special payables 104,479,827.57 103,856,111.50
Provisions 1,509,114,594.17 1,610,185,432.44
Deferred income 2,162,538,499.33 2,212,002,396.55
Deferred tax liabilities 35,227,500.00 49,285,500.00
Other non-current liabilities
Total non-current liabilities 3,893,795,716.01 6,037,997,040.34
Total liabilities 54,794,032,101.96 50,978,374,475.66
Owners' equity：
Share capital 4,662,886,108.00 4,662,886,108.00
Capital reserves 2,831,662,835.16 2,831,662,835.16
Less: Treasury shares
Other comprehensive income 201,528,781.91 281,190,781.91
Special reserves 14,005,299.28 12,723,372.00
Surplus reserves 2,331,443,054.00 2,331,443,054.00
Retained earnings 29,028,615,529.27 26,573,855,747.25
Total Owners' equity 39,070,141,607.62 36,693,761,898.32
Total liabilities and owners’ equity 93,864,173,709.58 87,672,136,373.98
3、Consolidated Income Statement
Account Current Period Prior Period
I、Total operating revenue 35,801,762,921.25 33,052,955,177.49
Including: operating revenue 35,801,762,921.25 33,052,955,177.49
II、Total operating cost 35,809,126,682.61 33,023,008,456.55
Including: Operating cost 29,867,338,185.68 27,249,934,200.22
Business tax and surcharges 1,574,338,990.15 1,545,626,871.52
Operating expenses 2,120,708,553.33 2,135,150,631.89
General and administrative expenses 2,212,296,933.23 2,039,913,264.88
Financial expenses -107,788,565.12 -75,769,863.16
Impairment loss on assets 142,232,585.34 128,153,351.20
39
Chongqing Changan Automobile Company Limited 2016 Semi-annual Report
Add: Profit and loss from fair
value changes (“－”represent loss)
Investment income (“－”represent
5,208,991,269.98 4,962,949,794.75
loss)
Including: Investment income from
5,204,376,269.98 4,910,730,579.44
associates and from joint venture
III、Net foreign exchange
5,201,627,508.62 4,992,896,515.69
differences(“－”means loss)
Add: Non-operating income 538,423,261.88 253,309,797.80
Including: gain on disposal of
non-current assets
Less: Non-operating expenses 33,752,670.96 17,005,016.11
Including: loss on disposal of
6,056,945.55 2,420,217.68
non-current assets
IV、Total profit(“－”represent loss) 5,706,298,099.54 5,229,201,297.38
Less: Income tax expense 229,546,499.16 171,465,058.19
V、Net profit (“－” represent net loss) 5,476,751,600.38 5,057,736,239.19
Net profit attributable to owners 5,490,988,582.32 5,085,266,527.13
Minority interests -14,236,981.94 -27,530,287.94
VI、Other comprehensive income after
-94,240,769.25 -55,461,463.52
tax
VII、Total comprehensive income 5,382,510,831.13 5,002,274,775.67
Total comprehensive income
5,396,747,813.07 5,029,805,063.61
attributable to owners
Total comprehensive income attributable
-14,236,981.94 -27,530,287.94
to minority interest
VIII、Earnings per share：
Basic earnings per share 1.18 1.09
Diluted earnings per share 1.18 1.09
4、Income Statement
Account Current Period Prior Perid
I、Operating revenue 35,293,163,947.87 32,515,813,857.05
Less: Operating cost 30,058,276,365.82 27,233,358,002.09
Business tax and surcharges 1,316,112,619.40 1,418,666,970.14
Operating expenses 1,915,038,483.20 1,958,088,618.34
40
Chongqing Changan Automobile Company Limited 2016 Semi-annual Report
General and administrative
1,850,922,327.11 1,784,731,700.98
expenses
Financial expenses -98,286,753.07 -63,610,178.21
Impairment loss on assets 134,683,832.36 131,306,302.80
Add: Profit and loss from fair
value Changes (“－” represent loss)
Investment income (“－” represent
5,212,572,956.94 4,962,949,794.75
loss)
Including: Investment income
5,204,376,269.98 4,910,730,579.44
from associates and from joint venture
II、Operating profit (“－” represent loss) 5,328,990,029.99 5,016,222,235.66
Add: Non-operating income 298,801,754.71 195,534,855.82
Including: gain on disposal of
non-current assets
Less: Non-operating expenses 29,823,354.91 15,224,346.18
Including: loss on disposal of
2,925,675.81 2,127,667.41
non-current assets
III、Total profit(“－” represent loss) 5,597,968,429.79 5,196,532,745.30
Less: Non-operating expenses 155,290,176.19 133,650,530.23
IV、Net profit (“－” represent net loss) 5,442,678,253.60 5,062,882,215.07
V、Other comprehensive income after
-79,662,000.00 -39,831,000.00
tax
VI、Total comprehensive income 5,363,016,253.6 5,023,051,215.07
VII、Earnings per share
Basic earnings per share 1.18 1.09
Diluted earnings per share 1.18 1.09
5、Consolidated cash flow statement
Account Current Period Prior Perid
I.Cash flows from operating activities:
Cash received from sale of goods or
40,845,649,735.99 35,141,800,670.55
rendering of services
Refunds of taxes 166,138,691.28 79,197,122.73
Cash received relating to other
694,946,535.96 293,128,460.73
operating activities
Sub-total of cash inflows 41,706,734,963.23 35,514,126,254.01
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Chongqing Changan Automobile Company Limited 2016 Semi-annual Report
Cash paid for goods and services 27,752,516,799.98 20,825,746,616.91
Cash paid to and on behalf of
3,209,319,877.09 2,646,019,208.40
employees
Cash paid for all types of taxes 3,037,630,435.22 3,159,896,007.83
Cash paid relating to other
3,086,480,622.87 2,446,315,442.84
operating activities
Sub-total of cash outflows 37,085,947,735.16 29,077,977,275.98
Net cash flows from operating activities 4,620,787,228.07 6,436,148,978.03
II、Cash flows from investing activities：
Cash received from disposal of
investments
Cash received from return on
4,334,615,000.00 52,219,215.31
investments
Net cash received from disposal of
fixed assets, intangible assets and other 1,307,153.36 601,825.61
long-term assets
Cash and cash equivalents of
subsidiary receipts upon a acquisition
Cash received relating to other
500,000.00 300,000.00
investing activities
Sub-total of cash inflows 4,336,422,153.36 53,121,040.92
Cash paid for acquisition of fixed
assets, intangible assets and other 2,655,001,579.93 1,254,680,057.74
long-term assets
Cash paid for acquisition of
- 16,735.26
investments
Cash paid relating to other
7,400.00 45,000.00
investing activities
Sub-total of cash outflows 2,655,008,979.93 1,254,741,793.00
Net cash flows from investing activities 1,681,413,173.43 -1,201,620,752.08
III、Cash flows from financing
activities：
Cash received from borrowings 115,000,000.00 60,000,000.00
Cash received from issuing bond
Cash received relating to other
61,286,090.42 59,542,544.63
financing activities
Sub-total of cash inflows 176,286,090.42 119,542,544.63
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Chongqing Changan Automobile Company Limited 2016 Semi-annual Report
Cash repayments of borrowings - 70,000,000.00
Cash paid for distribution of
dividends or profits and interest 3,091,127,085.12 1,267,345,683.09
expenses
Including: cash paid for dividends
or profits and interest expenses to
minority interest of subsidiary
Cash paid relating to other
20,368,608.43 38,256,025.88
financing activities
Sub-total of cash outflows 3,111,495,693.55 1,375,601,708.97
Net cash flows from financing activities -2,935,209,603.13 -1,256,059,164.34
IV、Effect of changes in exchange rate
-2,763,972.36 3,584,274.45
of cash
V、Net increase in cash and cash
3,364,226,826.01 3,982,053,336.06
equivalents
Add: Opening balance of cash and
17,725,921,341.22 9,362,853,917.71
cash equivalents
VI、Closing balance of cash and cash
21,090,148,167.23 13,344,907,253.77
equivalents
6、Cash flow statement
Account Current Period Prior Perid
I、Cash flows from operating activities:
Cash received from sale of goods
38,832,608,755.31 33,582,257,227.09
or rendering of services
Refunds of taxes 50,000,000.00 -
Cash received relating to other
642,305,204.01 241,396,550.70
operating activities
Sub-total of cash inflows 39,524,913,959.32 33,823,653,777.79
Cash paid for goods and services 27,616,360,183.76 20,278,237,719.02
Cash paid to and on behalf of
2,535,375,211.21 2,171,374,068.18
employees
Cash paid for all types of taxes 2,578,042,491.59 2,909,386,502.31
Cash paid relating to other
2,881,752,596.62 2,241,148,509.78
operating activities
Sub-total of cash outflows 35,611,530,483.18 27,600,146,799.29
Net cash flows from operating activities 3,913,383,476.14 6,223,506,978.50
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Chongqing Changan Automobile Company Limited 2016 Semi-annual Report
II、Cash flows from investing activities：
Cash received from disposal of
investments
Cash received from return on
4,338,301,141.67 52,219,215.31
investments
Net cash received from disposal of
fixed assets, intangible assets and other 830,223.68 70,105,285.24
long-term assets
Cash received from disposal of
subsidiary and other business units
Cash received relating to other
50,000,000.00 -
investing activities
Sub-total of cash inflows 4,389,131,365.35 122,324,500.55
Cash paid for acquisition of fixed
assets, intangible assets and other 1,861,257,635.92 1,141,743,757.62
long-term assets
Cash paid for acquisition of
90,000,000.00 16,735.26
investments
Cash paid for acquisition of
subsidiary and other business units
Cash paid relating to other investing
50,000,000.00
activities
Sub-total of cash outflows 2,001,257,635.92 1,141,760,492.88
Net cash flows from investing activities 2,387,873,729.43 -1,019,435,992.33
III、Cash flows from financing
activities：
Cash received from absorbing
investment
Cash received from borrowings
Cash received from issuing bond
Cash received relating to other
financing activities
Sub-total of cash inflows
Cash repayments of borrowings
Cash paid for distribution of
dividends or profits and interest 3,086,217,833.01 1,264,932,963.64
expenses
Cash paid relating to other 105,165.28
44
Chongqing Changan Automobile Company Limited 2016 Semi-annual Report
financing activities
Sub-total of cash outflows 3,086,322,998.29 1,264,932,963.64
Net cash flows from financing activities -3,086,322,998.29 -1,264,932,963.64
IV、Effect of changes in exchange rate
of cash
V、Net increase in cash and cash
3,214,934,207.28 3,939,138,022.53
equivalents
Add: Opening balance of cash and
17,223,403,333.90 8,828,152,864.35
cash equivalents
VI、Closing balance of cash and cash
20,438,337,541.18 12,767,290,886.88
equivalents
45
Chongqing Changan Automobile Company Limited 2016 Semi-annual Report
7、Consolidated statement of changes in shareholders’ equity
Current period
Equity attributable to owners
Items
Less:
Special Surplus General Minority interest Total equity
Share capital Capital reserves Treasury Retained earnings Others
reserves reserves reserves
shares
I. At end of last year 4,662,886,108.00 3,227,489,320.83 - 22,036,479.54 2,331,443,054.00 - 23,899,223,263.45 242,110,844.54 -211,566,346.93 34,173,622,723.43
II. At beginning of year 4,662,886,108.00 3,227,489,320.83 - 22,036,479.54 2,331,443,054.00 - 23,899,223,263.45 242,110,844.54 -211,566,346.93 34,173,622,723.43
III. Changes during the
- - - 3,425,190.71 - - 2,503,070,110.74 -94,240,769.25 -14,236,981.94 2,398,017,550.26
year (‘－” means less)
1.Total comprehensive
- - - - - - 5,490,988,582.32 -94,240,769.25 -14,236,981.94 5,382,510,831.13
income
2.Input by investors and
- - - - - - - - - -
decrease in capital
3.Distribution of profits - - - - - - -2,987,918,471.58 - - -2,987,918,471.58
-2,987,918,471.58
Distribution to owners - - - - - - -2,987,918,471.58 - -
4.Special reserve - - - 3,425,190.71 - - - - - 3,425,190.71
(1) Pick-up in current
- - - 37,429,797.34 - - - - - 37,429,797.34
period
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Chongqing Changan Automobile Company Limited 2016 Semi-annual Report
(2) Used in current period - - - -34,004,606.63 - - - - - -34,004,606.63
IV. At end of year 4,662,886,108.00 3,227,489,320.83 - 25,461,670.25 2,331,443,054.00 - 26,402,293,374.19 147,870,075.29 -225,803,328.87 36,571,640,273.69
Prior period
Current period
Equity attributable to owners
Items Less:
Special Surplus General Minority interest Total equity
Share capital Capital reserves Treasury Retained earnings Others
reserves reserves reserves
shares
I. At end of last year 4,662,886,108.00 3,227,489,320.83 - 7,864,849.94 2,331,443,054.00 - 15,115,601,819.79 292,013,397.24 -181,886,852.58 25,455,411,697.22
II. At beginning of year 4,662,886,108.00 3,227,489,320.83 - 7,864,849.94 2,331,443,054.00 - 15,115,601,819.79 292,013,397.24 -181,886,852.58 25,455,411,697.22
III. Changes during the
- - - 6,543,764.03 - - 3,916,173,802.70 -55,461,463.52 -27,530,287.94 3,839,725,815.27
year (‘－” means less)
1.Total comprehensive
- - - - - - 5,085,266,527.13 -55,461,463.52 -27,530,287.94 5,002,274,775.67
income
2.Input by investors and
- - - - - - - - - -
decrease in capital
3.Distribution of profits - - - - - - -1,169,092,724.43 - - -1,169,092,724.43
Distribution to owners - - - - - - -1,169,092,724.43 - - -1,169,092,724.43
4.Special reserve - - - 6,543,764.03 - - - - - 6,543,764.03
(1) Pick-up in current
- - - 24,945,260.20 - - - - - 24,945,260.20
period
(2) Used in current period - - - -18,401,496.17 - - - - - -18,401,496.17
IV. At end of year 4,662,886,108.00 3,227,489,320.83 - 14,408,613.97 2,331,443,054.00 - 19,031,775,622.49 236,551,933.72 -209,417,140.52 29,295,137,512.49
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Chongqing Changan Automobile Company Limited 2016 Semi-annual Report
8、Statement of changes in shareholders’ equity
Current period
Less:
Items Special
Share capital Capital reserves Treasury Surplus reserves Others Retained earnings Total equity
reserves
shares
I. At end of last year 4,662,886,108.00 2,831,662,835.16 - 12,723,372.00 2,331,443,054.00 281,190,781.91 26,573,855,747.25 36,693,761,898.32
II. At beginning of year 4,662,886,108.00 2,831,662,835.16 - 12,723,372.00 2,331,443,054.00 281,190,781.91 26,573,855,747.25 36,693,761,898.32
III. Changes during the year (‘－” means
- - - 1,281,927.28 - -79,662,000.00 2,454,759,782.02 2,376,379,709.30
less)
1.Total comprehensive income - - - - - -79,662,000.00 5,442,678,253.60 5,363,016,253.60
2.Distribution of profits - - - - - - -2,987,918,471.58 -2,987,918,471.58
Distribution to owners - - - - - - -2,987,918,471.58 -2,987,918,471.58
3.Special reserve - - - 1,281,927.28 - - - 1,281,927.28
(1) Pick-up in current period - - - 31,272,748.32 - - - 31,272,748.32
(2) Used in current period - - - -29,990,821.04 - - - -29,990,821.04
IV. At end of year 4,662,886,108.00 2,831,662,835.16 14,005,299.28 2,331,443,054.00 201,528,781.91 29,028,615,529.27 39,070,141,607.62
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Chongqing Changan Automobile Company Limited 2016 Semi-annual Report
Prior period
Current period
Less:
Items Special
Share capital Capital reserves Treasury Surplus reserves Others Retained earnings Total equity
reserves
shares
I. At end of last year 4,662,886,108.00 2,831,662,835.16 - 3,127,864.50 2,331,443,054.00 317,440,375.00 17,744,494,650.50 27,891,054,887.16
II. At beginning of year 4,662,886,108.00 2,831,662,835.16 - 3,127,864.50 2,331,443,054.00 317,440,375.00 17,744,494,650.50 27,891,054,887.16
III. Changes during the year (‘－” means
- - - 2,422,938.92 - -39,831,000.00 3,893,789,490.64 3,856,381,429.56
less)
1.Total comprehensive income - - - - - -39,831,000.00 5,062,882,215.07 5,023,051,215.07
2.Distribution of profits - - - - - - -1,169,092,724.43 -1,169,092,724.43
Distribution to owners - - - - - - -1,169,092,724.43 -1,169,092,724.43
3.Special reserve - - - 2,422,938.92 - - - 2,422,938.92
(1) Pick-up in current period - - - 15,574,692.00 - - - 15,574,692.00
(2) Used in current period - - - -13,151,753.08 - - - -13,151,753.08
IV. At end of year 4,662,886,108.00 2,831,662,835.16 - 5,550,803.42 2,331,443,054.00 277,609,375.00 21,638,284,141.14 31,747,436,316.72
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Chongqing Changan Automobile Company Limited 2016 Semi-annual Report
III、Corporate information
Chongqing Changan Automobile Company Limited (hereafter referred to as the “Company”) was established by
China Changan Automobile Group (hereafter referred to as the “Changan Group”) as the individual originator on
31 October 1996. The company was set up using the group’s net asset relating to the operation of mini cars and
engine, the shares its owned in Chongqing Changan Suzuki company limited (506,190,000 shares) and the fund
raising from the issuance of 250,000,000 foreign capital stock (B shares), with total share capital of
RMB756,190,000. The Legal Representative’s Operating License issued by Chongqing Industrial and Commercial
Administrative Bureau is Yu-Jing No. 28546236-3.
With the approval of China securities regulatory commission, the company initially floated on share market on 19
May 1997 by issuing120,000,000 common shares(A share) to the public. The offering increased the total share
capital to RMB876,190,000.
On 26 June 1998, the Company issued 4 shares for each 10 shares to existing shareholders of the original
876,190,000 shares. The issuance was made from capital common reserve and increased the total share capital to
RMB1,226,666,000.
On 26 May 2004, the Company offered 2 bonus shares for each 10 shares holding by existing shareholder which
increased the total share capital from RMB1,226,666,000 to RMB1,471,999,200.
On 26 August 2004, with the approval of China securities regulatory commission, the Company offered
148,850,000 common shares (A share) to the market which increased the total share capital to RMB1,620,849,200.
In December 2005, China South Industries Group Corporation (hereafter referred to as the “South Group”), the
ultimate parent company, used the common share (850,399,200 shares) owned by its subsidiary of Changan Group,
as part of the investment to established China South industries Motor Company (hereafter referred to as ”South
Industries Motor”). The share occupied 52.46% of the Company’s total share capital. Therefore, South industries
Motor became the parent company of Chongqing Changan. On 30 March 2006, the transfer of share was registered
by Shenzhen branch of China Securities Depository and Clearing Corporation limited.
In May 2006, South Industries Motor issued 3.2 bonus shares for each 10 shares to the shareholders at the
implementation date of reformation of non-tradable shares for their non-tradable shares according to the ”Reply of
the problems related the reformation of non-tradable shares of Chongqing Changan Automobile Co., Ltd.”
(2006[442] Guo Zi Chan Quan) issued by the State-owned Assets Supervision and Administration Commission of
State Council and the related shareholder’s meeting. After the reformation of non-tradable shares, South Industries
Motor occupied 45.548% of equity through 738,255,200 common shares.
On 15 May 2007, the Company issued 2 bonus shares for each 10 shares to existing shareholders which increased
the total share capital from RMB1,620,849,200 to RMB1,945,019,040 .
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Chongqing Changan Automobile Company Limited 2016 Semi-annual Report
On 30 May 2008, the Company issued 2 shares for each 10 shares owned by existing shareholders. The total
issuance of 389,003,808 shares was made from common reserve in capital. After this issuance, total share capital
increased to RMB2,334,022,848.
On 3 March 2009, the secondary temporary shareholder meeting was held. The board resolution about ‘the
reacquisition of foreign capital stock listed in China’ was approved in the meeting. For the buyback period ended
on 3 March 2010, the company repurchased 8,365,233 shares in total, equal to 0.3584% of total capital. On 17
March 2010, the company cancelled the share and the share capital decreased to RMB2,325,657,615.
On 1 July 2009, with the approval of State Administration for Industry and Commercial, South industries Motor,
the parent company changed its name as China Changan Automobile Industry (Group) Co., Ltd. (hereafter refer to
as the “China Changan”).
With the approval of China securities regulatory commission on 14 January 2011, the Company issued
360,166,022 common shares (A share), which increased the total share capital to RMB2,685,823,637. After the
completion of the issuance, China Changan hold 1,163,787,489 shares of the Company's common stock, and the
held equity interest decreased to 43.33%.
On 18 May 2011, the Company issued 4 bonus shares for each 10 shares and issued 4 shares to 10 shares from
common reserve in capital to existing shareholders. After this issuance, the total share capital has been increased to
RMB4,834,482,546.
On 21 December 2011, the first temporary shareholder meeting was held. The board resolution about ‘the
reacquisition of foreign capital stock listed in China’ was approved in the meeting. For the buyback period ended
on 20 March 2012, the company repurchased 171,596,438 shares in total, equal to 3.55% of total capital. On 30
March 2012, the company cancelled the share and the share capital decreased to RMB4,662,886,108.
On 24 August 2012, the Company obtained a new business license with registration number of 500000000005061.
From September to December 2013, China Changan, the parent company of the Company, continuously sold
181,260,000 shares in total in secondary market. As at 31 December 2013, China Changan held 1,913,557,480
shares of the Company's ordinary share, with shares proportion decreasing to 41.04%.
During 2014, China Changan, the parent company of the Company, continuously sold 89,962,264 shares in total in
secondary market. As at 31 December 2014, China Changan holds 1,823,595,216 shares of the Company’s
ordinary shares, with shares proporation decreasing to 39.11%.
On 15 October 2015, the Company obtained a new business license with registration number of
9150000020286320X6.
As at 30 June 2016, the Company’s parent company and ultimate controlling company is China Changan and
South Industries respectively.
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Chongqing Changan Automobile Company Limited 2016 Semi-annual Report
The Company and its subsidiaries (hereafter referred to as the “Group”) mainly focus on the manufacturing and
sales of automobile (include cars), automobile engine, spare parts.
IV BASIS OF PREPERATION
1. Basis of preparation
The financial statements have been prepared in accordance with Accounting Standards for Business
Enterprises-Basic Standard and the specific standards issued and modified subsequently, and the implementation
guidance, interpretations and other relevant provisions issued subsequently by the MOF (correctly referred to as
“Accounting Standards for Business Enterprises”).
The financial statements have been prepared under the historical cost convention, except for certain financial
instruments. If the assets are impaired, the corresponding provisions should be made accordingly. The assets are
recorded at assessed value by State-owned Assets Supervision and Administration Commission of the State
Council, which are invested into the Group in the reforming period.
2. Going operations
The company assesses the ongoing operation capability for the next 12 months after the report period, and does
not find any concern which could impact the ongoing operation capability. The financial statements on a going
concern basis are reasonable.
V Significant accounting policies and accounting estimates
1. Statement of compliance with Accounting Standards for Business Enterprises
The financial statements present fairly and fully, the financial position of the Company as at June 30, 2015 and the
financial results and the cash flows for 1-6 month then ended in accordance with Accounting Standards for
Business Enterprises。
2. Accounting year
The accounting year of the Group is from 1 January to 31 December of each calendar year 。
3. Functional currency
The Group’s functional and reporting currency is the Renminbi (“RMB”). Unless otherwise stated, the unit of the currency is Yuan.
Each entity in the Group determines its own functional currency in accordance with the operating circumstances. At the end of the
reporting period, the foreign currency financial statements are translated into the reporting currency of the Company of RMB .
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Chongqing Changan Automobile Company Limited 2016 Semi-annual Report
4、Business combination
A business combination is a transaction or event that brings together two or more separate entities into one
reporting entity. Business combinations are classified into business combinations involving entities under
common control and business combinations involving entities not under common control.
Business combination involving entities under common control
A business combination involving entities under common control is a business combination in which all of the
combining entities are ultimately controlled by the same party or parties both before and after the combination,
and that control is not transitory. For a business combination involving entities under common control, the party
which, on the combination date, obtains control of another entity participating in the combination is the acquiring
party, while that other entity participating in the combination is a party being acquired. Combination date is the
date on which the acquiring party effectively obtains control of the party being acquired.
Assets and liabilities that are obtained by the acquiring party in a business combination involving entities under
common control shall be measured at their carrying amounts at the combination date as recorded by the party
being acquired. The difference between the carrying amount of the net assets obtained and the carrying amount of
the consideration paid for the combination (or the aggregate face value of shares issued as consideration) shall be
adjusted to capital reserve. If the capital reserve is not sufficient to absorb the difference, any excess shall be
adjusted against retained earnings.
Business combination involving entities not under common control
A business combination involving entities not under common control is a business combination in which all of the
combining entities are not ultimately controlled by the same party or parties both before and after the combination.
For a business combination involving entities not under common control, the party that, on the acquisition date,
obtains control of another entity participating in the combination is the acquirer, while that other entity
participating in the combination is the acquiree. Acquisition date is the date on which the acquirer effectively
obtains control of the acquiree.
The acquirer shall measure the acquiree’s identifiable assets, liabilities and contingent liabilities acquired in the
business combination at their fair values on the acquisition date.
Where the sum of the fair value of the consideration transferred (or the fair value of the issued equity securities)
and the fair value of the acquirer’s previously held equity interest in the acquiree exceeds the acquirer’s interest in
the fair value of the acquiree’s identifiable net assets, the difference shall be recognized as goodwill and measured
at cost less any accumulated impairment losses. Where the sum of the fair value of the consideration transferred
(or the fair value of the issued equity securities) and the fair value of the acquirer’s previously held equity interest
in the acquiree is less than the acquirer’s interest in the fair value of the acquiree’s identifiable net assets, the
difference shall be accounted for according to the following requirements: (i) the acquirer shall reassess the
measurement of the fair values of the acquiree’s identifiable assets, liabilities and contingent liabilities and
measurement of the fair value of the consideration transferred (or the fair value of the issued equity securities) and
the fair value of the acquirer’s previously held equity interest in the acquiree; (ii) if after that reassessment, the
sum of the fair value of the consideration transferred (or the fair value of the issued equity securities) and the fair
value of the acquirer’s previously held equity interest in the acquiree is still less than the acquirer’s interest in the
fair values of the acquiree’s identifiable net assets, the acquirer shall recognize the remaining difference
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Chongqing Changan Automobile Company Limited 2016 Semi-annual Report
immediately in the income statement for the current period.
5、Consolidated financial statements
The scope of consolidation of consolidated financial statements is determined based on control, and includes the
financial statements of the Company and its subsidiaries as at June 30, 2016. A subsidiary is an enterprise or entity
that is controlled by the Group (including an enterprise, seperable part of the investee and a structured entity
controlled by the Company).
The financial statements of the subsidiaries are prepared for the same reporting period as the Company, using
consistent accounting policies. All intra-group assets and liabilities, equity, income, expenses and cash flows
relating to transactions between members of the Group are eliminated in full on consolidation.
When the current loss belong to minorities of the subsidiary exceeds the beginning equity of the subsidiary belong
to minorities, the exceeded part will still deduct the equity belong to minorities.
With respect to subsidiaries acquired through business combinations involving entities not under common control,
the operating results and cash flows of the acquiree should be included in the consolidated financial statements,
from the day that the Group gains control, till the Group ceases the control of it. While preparing the
consolidated financial statements, the acquirer should adjust the subsidiary’s financial statements, on the basis of
the fair values of the identifiable assets, liabilities and contingent liabilities recognized on the acquisition date.
With respect to subsidiaries acquired through business combinations involving entities under common control, the
operating results and cash flows of the acquiree should be included in the consolidated financial statements from
the beginning of the period in which the combination occurs.
If the changes of relevant facts and circumstances will result in the changes of one or more control elements, then
the Group should reassess whether has taken control of the investee.
6、Joint venture arrangement classification and joint operation
Joint venture arrangements are classified into joint operation and joint venture. Joint operation refers to those joint
venture arrangements, relevant assets and liabilities of which are enjoyed and assumed by the joint venturers. Joint
ventures refer to those joint venture arrangements, only the right to net assets of which is enjoyed by the joint
venturers.
Any joint venturer shall recognize the following items related to its share of benefits in the joint operation and
conduct accounting treatment in accordance with relevant accounting standards for business enterprises: assets it
solely holds and its share of jointly-held assets based on its percentage; liabilities it solely assumes and its share of
jointly-assumed liabilities based on its percentage; incomes from sale of output enjoyed by it from the joint
operation; incomes from sale of output from the joint operation based on its percentage; and separate costs and
costs for the joint operation based on its percentage.
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Chongqing Changan Automobile Company Limited 2016 Semi-annual Report
7、Cash and cash equivalents
Cash comprises cash on hand and bank deposits which can be used for payment at any time; Cash equivalents are
short-term, highly liquid investments held by the Group, that are readily convertible to known amounts of cash
and which are subject to an insignificant risk of changes in value.
8. Foreign currency translation
The Group translates the amount of foreign currency transactions occurred into functional currency.
The foreign currency transactions are recorded, on initial recognition in the functional currency, by applying to the
foreign currency amount at the spot exchange rate on the transaction dates. Foreign currency monetary items are
translated using the spot exchange rate quoted by the People’s Bank of China at the balance sheet date. The
exchange gains or losses arising from occurrence of transactions and exchange of currencies, except for those
relating to foreign currency borrowings specifically for construction and acquisition of fixed assets capitalized, are
dealt with in the profit and loss accounts. Non-monetary foreign currency items measured at historical cost remain
to be translated at the spot exchange rate prevailing on the transaction date, and the amount denominated in the
functional currency should not be changed. Non-monetary foreign currency items measured at fair value should be
translated at the spot exchange rate prevailing on the date when the fair values are determined. The exchange
difference thus resulted should be charged to the current income or other comprehensive income account of the
current period.
When preparing consolidated financial statements, the financial statements of the subsidiaries presented in foreign
currencies are translated into Renminbi as follows: asset and liability accounts are translated into Renminbi at
exchange rates ruling at the balance sheet date; shareholders’ equity accounts other than retained profits are
translated into Renminbi at the applicable exchange rates ruling at the transaction dates; income and expense in
income statement are translated into Renminbi at spot exchange rates on transaction occurrence; total difference
between translated assets and translated liabilities and shareholders’ equity is separately listed as “foreign
currency exchange differences” below retained profits. The translation difference arising from the settlement of
oversea subsidiaries is charged to the current liquidation profit and loss in proportion to the settlement ratio of the
assets concerned.
Foreign currency cash flows and the cash flows of foreign subsidiaries should be translated using the average
exchange rate prevailing on the transaction month during which the cash flows occur. The amount of the effect on
the cash arising from the change in the exchange rate should be separately presented as an adjustment item in the
cash flow statement.
9. Financial instruments
A financial instrument is any contract that gives rise to a financial asset of one entity and a financial liability or
equity instrument of another entity.
Recognition and derecognition
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Chongqing Changan Automobile Company Limited 2016 Semi-annual Report
The Group recognizes a financial asset or a financial liability, when the Group becomes a party to the contractual
provision of the instrument.
The Group derecognizes a financial asset (or part of a financial asset, or part of a group of similar financial assets),
be written off from the account and balance sheet , when the following conditions are met:
(1) the rights to receive cash flows from the asset have expired;
(2) the Group transferred the rights to receive cash flows from the asset, or has assumed an obligation to pay the
received cash flows in full without material delay to a third party under a “pass-through” arrangement; and
either (a) has transferred substantially all the risks and rewards of the asset, or (b) has neither transferred nor
retained substantially all the risks and rewards of the asset, but has transferred control of the asset.
If the underlying obligation of a financial liability has been discharged or cancelled or has expired, the financial
liability is derecognized. If an existing financial liability is replaced by the same creditor, with a new financial
liability that has substantially different terms, or if the terms of an existing financial liability are substantially
revised, such replacement or revision is accounted for as the derecognition of the original liability and the
recognition of a new liability, and the difference thus resulted is recognized in profit or loss for the current period.
When buy or sell financial instruments under a normal way, financial instruments are recognized or derecognized
according to the transaction date accounting. A normal way to buy or sell financial instruments refers to,
according to the contract terms, receive or deliver financial instruments within the period as required by legal
regulation or generally accepted guidelines. Transaction date refers to the date when the Group committed to buy
or sell financial instruments.
Classification and measurement of financial assets
Financial assets are, on initial recognition, classified into the following categories: financial assets at fair value
through profit or loss, held-to-maturity investments, loans and receivables, available-for-sale financial assets, and
the derivatives designated as effective hedging instrument. A financial asset is recognized initially at fair value.
In the case of financial assets at fair value through profit or loss, relevant transaction costs are directly charged to
the profit and loss of the current period; transaction costs relating to financial assets of other categories are
included in the amount initially recognized.
The subsequent measurement of financial assets depends on their classification as follows:
Financial assets at fair value through profit or loss
Financial assets at fair value through profit or loss include financial assets held for trading and those designated
upon initial recognition as at fair value through profit or loss. A financial asset held for trading is the financial
asset that meets one of the following conditions: the financial asset is acquired for the purpose of selling it in a
short term; the financial asset is a part of a group of identifiable financial instruments that are collectively
managed, and there is objective evidence indicating that the enterprise recently manages this group for the
purpose of short-term profits; the financial asset is a derivative, except for a derivative that is designated as
effective hedging instrument, or a financial guarantee contract, or a derivative that is linked to and must be settled
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Chongqing Changan Automobile Company Limited 2016 Semi-annual Report
by delivery of an unquoted equity instrument (without a quoted price from an active market) whose fair value
cannot be reliably measured. For such kind of financial assets, fair values are adopted for subsequent
measurement. All the realized or unrealized gains or losses on these financial assets
are recognized in profit or loss for the current period. Dividend or interest income related to financial assets at fair
value through profit or loss is recognized in profit or loss for the current period.
Held-to-maturity investments
Held-to-maturity investments are non-derivative financial assets with fixed or determinable payments and fixed
maturity that an entity has the positive intention and ability to hold to maturity. Such kind of financial assets are
subsequently measured at amortized cost using the effective interest method. Gains or losses arising from
derecognition, impairment or amortization are recognized in profit or loss for the current period.
Loans and receivables
Loans and receivables are non-derivative financial assets with fixed or determinable payments that are not quoted
in an active market. Such kind of financial assets are subsequently measured at amortized cost using the effective
interest method. Gains or losses arising from derecognition, impairment or amortization are recognized in profit or
loss for the current period.
Available-for-sale financial assets
Available-for-sale financial assets are those non-derivative financial assets that are designated as available for sale
or are not classified as the above financial assets. After initial recognition, available-for-sale financial assets are
measured at fair value. The premium/discount is amortized using effective interest method and recognized as
interest income or expense. A gain or loss arising from a change in the fair value of an available-for-sale financial
asset is recognized in other comprehensive income as a component of capital reserve, except for impairment
losses and foreign exchange gains and losses resulted from monetary financial assets, until the financial asset is
derecognized or determined to be impaired, at which time the accumulated gain or loss previously recognized in
capital reserve is removed from capital reserve and recognized in profit or loss for the current period. Interests and
dividends relating to an available-for-sale financial asset are recognized in profit or loss for the current period.
The equity investment instruments, for which there is no quoted price in active market and whose fair value
cannot be reliably measured, shall be measured at cost.
Classification and measurement of financial liabilities
The Group’s financial liabilities are, on initial recognition, classified into the following categories: financial
liabilities at fair value through profit or loss, other financial liabilities, and the derivatives designated as effective
hedging instrument. For financial liabilities at fair value through profit or loss, relevant transaction costs are
directly recognized in profit or loss for the current period, and transaction costs relating to other financial
liabilities are included in the initial recognition amounts.
The subsequent measurement of financial liabilities depends on their classification as follows:
Financial liabilities at fair value through profit or loss
Financial liabilities at fair value through profit or loss include financial liabilities held for trading and those
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Chongqing Changan Automobile Company Limited 2016 Semi-annual Report
designated as at fair value through profit or loss. A financial liability held for trading is the financial liability that
meets one of the following conditions: the financial liability is assumed for the purpose of repurchasing it in a
short term; the financial liability is a part of a group of identifiable financial instruments that are collectively
managed, and there is objective evidence indicating that the enterprise recently manages this group for the
purpose of short-term profits; the financial liability is a derivative, except for a derivative that is designated and
effective hedging instrument, or a financial guarantee contract, or a derivative that is linked to and must be settled
by delivery of an unquoted equity instrument (without a quoted price form an active market) whose fair value
cannot be reliably measured. For such kind of financial liabilities, fair values are adopted for subsequent
measurement. All the realized or unrealized gains or losses on these financial liabilities are recognized in profit or
loss for the current period.
Other financial liabilities
After initial recognition, these financial liabilities are measured at amortized cost using the effective interest
method.
Offsetting of financial instrumentsts
Financial assets and financial liabilities are offset and the net amount is reported in the balance sheet if there is a
currently enforceable legal right to offset the recognised amounts and there is an intention to settle on a net basis,
or to realise the assets and settle the liabilities simultaneously.
Impairment of financial assets
The Group assesses the carrying amount of a financial asset, at the balance sheet date. If there is objective
evidence that the financial asset is impaired, the Group makes provision for the impairment loss. Objective
evidence that a financial asset is impaired is evidence arising from one or more events that occurred after the
initial recognition of the asset and that event has an impact on the estimated future cash flows of the financial
asset which can be reliably estimated.
Financial assets carried at amortized cost
When the financial assets carried at amortized cost are impaired, the carrying amount of the financial asset shall
be reduced to the present value of the estimated future cash flow (excluding future credit losses that have not been
incurred). The amount of reduction is recognized as an impairment loss in the income statement. Present value of
estimated future cash flow is discounted at the financial asset’s original effective interest rate and includes the
value of any related collateral.
If a financial asset is individually significant, the Group assesses the asset individually for impairment, and
recognizes the amount of impairment in the income statement if there is objective evidence of impairment. For a
financial asset that is not individually significant, the Group can include the asset in a group of financial assets
with similar credit risk characteristics and collectively assess them for impairment. For financial assets that are not
impaired upon individual tests (including financial assets that are individually significant or insignificant),
impairment tests should be conducted on them again by including them in the group of financial assets. Assets for
which an impairment loss is individually recognized will not be included in a collective assessment of
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Chongqing Changan Automobile Company Limited 2016 Semi-annual Report
impairment.
If, subsequent to the recognition of an impairment loss on a financial asset carried at amortized cost, there is
objective evidence of a recovery in value of the financial asset which can be related objectively to an event
occurring after the impairment was recognized, the previously recognized impairment loss is reversed and
recognized in the income statement. However, the reversal shall not result in a carrying amount of the financial
asset that exceeds what the amortized cost would have been had the impairment not been recognized at the date
the impairment is reversed.
Available-for-sale financial assets
When there is objective evidence that the asset is impaired, the cumulative loss from declines in fair value that had
been recognized directly in capital reserve are removed from equity and recognized in the income statement. The
amount of the cumulative loss that is removed from capital reserves and recognized in the income statement (net
of any principal repayment and amortization) and current fair value, less any impairment loss on that financial
asset previously recognized in the income statement.
In the case of equity investments classified as available for sale, objective evidence would include a significant or
prolonged decline in the fair value of an investment below its cost. The determination of what is “significant” or
''prolonged” requires judgement. “Significant” is evaluated against the original cost of the investment and
“prolonged” against the period in which the fair value has been below its original cost. Impairment losses on
equity instruments classified as available for sale are not reversed through the income statement. Increases in their
fair value after impairment are recognised directly in other comprehensive income.
The determination of what is “significant” or “prolonged” requires judgement. In making this judgement, the
Group evaluates, among other factors, the duration or extent to which the fair value of an investment is less than
its cost.
Financial assets carried at cost
If objective evidence shows that the financial assets carried at cost are impaired, the difference between the
present value discounted at the prevailing rate of return of similar financial assets and the book value of the
financial asset are provided as a provision and recognized in the current income statement. The impairment loss
recognized cannot be reversed.
Transfer of financial assets
If the Group transfers substantially all the risks and rewards of ownership of the financial asset, the Group
derecognizes the financial asset; and if the Group retains substantially all the risks and rewards of the financial
asset, the Group does not derecognize the financial asset.
If the Group neither transfers nor retains substantially all the risks and rewards of ownership of the financial asset,
the Group determines whether it has retained control of the financial asset. In this case: (i) if the Group has not
retained control, it derecognizes the financial asset and recognize separately as assets or liabilities any rights and
obligations created not retained in the transfer; (ii) if the Group has retained control, it continues to recognize the
financial asset to the extent of its continuing involvement in the transferred financial asset and recognizes an
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Chongqing Changan Automobile Company Limited 2016 Semi-annual Report
associated liability.
10、Accounts receivable
(1) Accounts receivable which is individually significant and analyzed individually for provision：
Criterion for individually significant items Accounts receivable balance greater than RMB15 million due from
non-related parties
Method for provision A provision of the difference between recoverable amount and book
value is recognized based on individually analysis
(2) Accounts receivable analyzed by credit risk charactristics group for provision：
Criterion for group
Accounts receivable due from non-related parties other than individually
Group 1
significant items or insignificatntly but analyzed individually for provision
Group 2 Accounts receivable due from related parties
Method for the provision of group
Group 1 Making provision according to aging analysis
A provision of the difference between recoverable amount and book value is
Group 2
recognized based on individually analysis.
Group 1, the provision analyzed according to aging analysis:
Aging Accounts receivable Other receivables
Provision percentage (%) Provision percentage (%)
Within 1 year
Within 6 months 0 0
6 to 12 months 5 5
1 to 2 years 10 10
2 to 3 years 30 30
3 to 4 years 50 50
4 to 5 years 80 80
Above 5 years 100 100
(3) Accounts receivable which is individually insignificant but analyzed individually for provision
There is objective evidence that the accounts receivable due
Criterion for individually analysis for provision from non-related parties is impaired and the future recoverable
possibility is little.
Method for provision A provision of the difference between recoverable amount and
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Chongqing Changan Automobile Company Limited 2016 Semi-annual Report
book value is recognized individually.
11、Inventory
Inventory includes raw materials, goods in transit, work in progress, finished goods, consigned processing
materials, low-value consumables and spare parts.
Inventory is initially carried at the actual cost. Inventory costs comprise all costs of purchase, costs of conversion
and other costs incurred in bringing the inventory to its present location and condition. Weighted average method
is assigned to the determination of actual costs of inventories. One-off writing off method is adopted in
amortization of low-value consumables.
The Group applies a perpetual counting method of inventory.
At the balance sheet date, the inventory is stated at the lower of cost and net realizable value. If the cost is higher
than the net realizable value, provision for the inventory should be made through profit or loss. If factors that
resulted in the provision for the inventory have disappeared and made the net realizable value higher than their
book value, the amount of the write-down should be reversed, to the extent of the amount of the provision for the
inventory, and the reversed amount should be recognized in the income statement for the current period.
Net realizable value is the estimated selling price in the ordinary course of business less the estimated costs of
completion and the estimated costs necessary to make the sale. The impairment provision should be made on a
basis of each item of inventories according to the difference between cost and net realizable value. For large
numbers of inventories at relatively low unit prices, the provision for loss on decline in value of inventories
should be made by category.
12、Long-term equity investments include investments in subsidiaries, joint ventures and associates
The long-term investments are initially recorded at costs on acquisition. Long-term investments acquired from
business combination under common control shall be initially measured at the carrying value of the held interest
of the party being acquired; The difference between the initial meassued amounts and the book value of
consideration, adjust the capital reserves (if the capital reserve is insufficient to be offset, retained earnings should
be adjusted); Long-term investments acquired from business combination not under common control shall be
initially measured at the cost (or, the sum of the cost and the carrying value of the previously held equity interest
in the acquire for the business combination achieved by stages), which include the fair value of the consideration
paid, the liabilities beard and the fair value of issued equity instrument; the other comprehensive income produced
from the investment before the acquisition should be transferred into the current year investment income on
disposal. Long-term investments acquired not from business combination are initially measured at 1)the
consideration together with the cost necessary incurred; 2) the fair value of the equity instruments; and 3) the
consideration agreed in the investment agreement by the investors, otherwise the agreed consideration were not
fair.
The Company adopted cost method to account for long-term investments in the subsidiaries in the separate
financial statements of the Company. Control is the power to govern the financial and operating policies of an
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Chongqing Changan Automobile Company Limited 2016 Semi-annual Report
entity so as to obtain benefits from its activities.
Under cost method, the long-term equity investment is valued at the cost of the initial investment. The cost of
long-term equity investment should be adjusted in case of additional investment or disinvestments. When cash
dividends or profits are declared by the invested enterprise is recognized as investment income in current period.
The equity method is applied to account for long-term equity investments, when the Group has jointly control, or
significant influence on the investee enterprise. Joint control is the contractually agreed sharing of control over an
economic activity, and exists only when the strategic financial and operating decisions relating to the activity
require the unanimous consent of the parties sharing control (the venturers). Significant influence is the power to
participate in the financial and operating policy decisions of an economic activity but is not control or joint control
over those policies.
Under equity method, when the initial investment cost of a long-term equity investment exceeds the investing
enterprise’s interest in the fair values of the investee’s identifiable net assets at the acquisition date, the difference
is accounted for as an initial cost. As to the initial investment cost is less than the investing enterprise’s interest in
the fair values of the investee’s identifiable net assets at the acquisition date, the difference shall be charged to the
income statement for the current period, and the cost of the long-term equity investment shall be adjusted
accordingly.
Under equity method, the Group recognizes its share of post-acquisition equity in the investee enterprise for the
current period as a gain or loss on investment, and also increases or decreases the carrying amount of the
investment. When recognizing its share in the net profit or loss of the investee entities, the Group should, based on
the fair values of the identifiable assets of the investee entity when the investment is acquired, in accordance with
the Group’s accounting policies and periods, after eliminating the portion of the profits or losses, arising from
internal transactions with joint ventures and associates, attributable to the investing entity according to the share
ratio (but losses arising from internal transactions that belong to losses on the impairment of assets, should be
recognized in full), recognize the net profit of the investee entity after making appropriate adjustments. The book
value of the investment is reduced to the extent that the Group’s share of the profit or cash dividend declared to be
distributed by the investee enterprise. However, the share of net loss is only recognized to the extent that the book
value of the investment is reduced to zero, except to the extent that the Group has incurred obligations to assume
additional losses. The Group shall adjust the carrying amount of the long-term equity investment for other changes
in owners’ equity of the investee enterprise (other than net profits or losses), and include the corresponding
adjustments in equity, which should be realized through profit or loss in subsequent settlement of the respective
long-term investment.
On settlement of a long-term equity investment, the difference between the proceeds actually received and the
carrying amount shall be recognized in the income statement for the current period. As to other comprehensive
income recognized based on measurement of the original equity investment by employing the equity method,
accounting treatment shall be made on the same basis as would be required if the invested entity had directly
disposed of the assets or liabilities related thereto when measurement by employing the equity method is
terminated. As to any change in owners' equity of the invested entity other than net profit or loss, other
comprehensive income and profit distribution, the investing party shall be transferred to the income statement for
the current period. If the remaining equities still be measured under the equity method, accumulative change
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Chongqing Changan Automobile Company Limited 2016 Semi-annual Report
previously recorded in other comprehensive income shall be transferred to current profit or loss, in measurement
on the same basis as the invested entity had directly disposed of the assets or liabilities related thereto. The income
or loss recorded in the equity directly should been transferred to the current income statement on settlement of the
equity investment on the disposal proportion.
13、Investment property
Investment property are properties held to earn rentals or for capital appreciation, or both, including rented land
use right, land use right which is held and prepared for transfer after appreciation, and rented building.
The initial measurement of the investment property shall be measured at its actual cost. The follow-up expenses
pertinent to an investment property shall be included in the cost of the investment property, if the economic
benefits pertinent to this real estate are likely to flow into the enterprise, and, the cost of the investment property
can be reliably measured. Otherwise, they should be included in the current profits and losses upon occurrence.
The group adopts the cost method to make follow-up measurement to the investment property. The buildings are
depreciated under straight-line method.
14、Fixed asset
(1) Recognition of fixed assets
A fixed asset probably shall be recognized only when the economic benefits associated with the asset will flow to
the Group and the cost of the asset can be measured reliably. Subsequent expenditure incurred for a fixed asset
that meet the recognition criteria shall be included in the cost of the fixed asset, and the book value of the
component of the fixed asset that is replaced shall be derecognized. Otherwise, such expenditure shall be
recognized in the income statement in the period during which they are incurred.
Fixed assets are initially measured at actual cost on acquisition. The cost of a purchased fixed asset comprises the
purchase price, relevant taxes and any directly attributable expenditure for bringing the asset to working condition
for its intended use, such as delivery and handling costs, installation costs and other surcharges.
(2) Depreciation method of fixed assets
Fixed assets are depreciated on straight-line basis. The estimated useful lives, estimated residual values and annual
depreciation rates for each category of fixed assets are as follows:
Yearly deprecation rate
Category Deprecation period Residual rate (%)
(%)
Buildings 20 to 35 years 3% 2.77%-4.85%
Machinery (Note) 5 to 20 years 3% 4.85%-19.40%
Vehicles 4 to 12 years 3% 8.08%-24.25%
Others 3 to 21 years 3% 4.62%-32.33%
Note: the moulds in machinery should be depreciated in units-of-production method.
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(3) Others
The Group reviews the useful life and estimated net residual value of a fixed asset and the depreciation method
applied at least at the end of each year and makes adjustments if necessary.
15、Construction in progress
The cost of construction in progress is determined according to the actual expenditure for the construction,
including all necessary construction expenditure incurred during the construction period, borrowing costs that
should be capitalized before the construction reaches the condition for intended use and other relevant expenses.
Construction in progress is transferred to fixed assets when the asset is ready for its intended use.
16、Borrowing costs
Borrowing costs are interest and other costs incurred by the Group in connection with the borrowing of the funds.
Borrowing costs include interest, amortization of discounts or premiums related to borrowings, ancillary costs
incurred in connection with the arrangement of borrowings, and exchange differences arising from foreign
currency borrowings.
The borrowing costs that are directly attributable to the acquisition, construction or production of a qualifying
asset are capitalized, otherwise the borrowing costs are expensed in the period during which they are incurred. A
qualifying asset is an asset (an item of property, plant and equipment and inventory etc.) that necessarily takes a
substantial period of time to get ready for its intended use of sale.
The capitalization of borrowing costs are as part of the cost of a qualifying asset shall commence when:
1) expenditure for the asset is being incurred;
2) borrowing costs are being incurred; and
3) activities that are necessary to prepare the asset for its intended use or sale are in progress.
Capitalization of borrowing costs shall be ceased when substantially all the activities necessary to prepare the
qualifying asset for its intended use or sale have been done. And subsequent borrowing costs are recognized in the
income statement.
During the capitalization period, the amount of interest to be capitalized for each accounting period shall be
determined as follows:
1) where funds are borrowed for a specific-purpose, the amount of interest to be capitalized is the actual
interest expense incurred on that borrowing for the period less any bank interest earned form depositing the
borrowed funds before being used on the asset or any investment income on the temporary investment of
those funds;
2) where funds are borrowed for a general-purpose, the amount of interest to be capitalized on such
borrowings is determined by applying a weighted average interest rate to the weighted average of the
excess amounts of cumulative expenditure on the asset over and above the amounts of specific-purpose
borrowings.
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During the construction or manufacture of assets that are qualified for capitalization, if abnormal discontinuance,
other than procedures necessary for their reaching the expected useful conditions, happens, and the duration of the
discontinuance is over three months, the capitalization of the borrowing costs is suspended. Borrowing costs
incurred during the discontinuance are recognized as expense and charged to the income statement of the current
period, till the construction or manufacture of the assets resumes.
17、Intangible asset
An intangible asset probably shall be recognized only when the economic benefits associated with the asset will
flow to the Group and the cost of the asset can be measured reliably. Intangible assets are initially measured at
cost. The cost of intangible assets acquired in a business combination is the fair value as at the date of acquisition,
if the fair value can be reliably measured.
The useful life of the intangible assets shall be assessed according to the estimated beneficial period expected to
generate economic benefits. An intangible asset shall be regarded as having an indefinite useful life when there is
no foreseeable limit to the period over which the asset is expected to generate economic benefits for the Group.
The useful lives of the intangible assets are as follow:
Useful life
Land use right 22 to 50 years
Software 2 years
Trademark 10 years
Non-patent technology 5 years
Land use rights that are purchased or acquired through the payment of land use fees are accounted for as
intangible assets. With respect to self-developed properties, the corresponding land use right and buildings should
be recorded as intangible and fixed assets separately. As to the purchased properties, if the reasonable allocation of
outlays cannot be made between land and buildings, all assets purchased will be recorded as fixed assets. The cost
of a finite useful life intangible asset is amortized using the straight-line method during the estimated useful life.
For an intangible asset with a finite useful life, the Group reviews the estimated useful life and amortization
method at least at the end of each year and adjusts if necessary.
The Group should test an intangible asset with an indefinite useful life for impairment by comparing its
recoverable amount with its carrying amount annually, whenever there is an indication that the intangible asset
may be impaired. An intangible asset with an indefinite useful life shall not be amortized.
The useful life of an intangible asset that is not being amortised shall be reviewed each period to determine
whether events and circumstances continue to support an indefinite useful life assessment for that asset. If there
are indicators that the intangible asset has finite useful life, the accounting treatment would be in accordance with
the intangible asset with finite useful life.
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Chongqing Changan Automobile Company Limited 2016 Semi-annual Report
18、Research and development expenditures
The Group classified the internal research and development expenditures as follows: research expenditures and
development cost.
The expenditures in research stage are charged to the current income on occurrence.
The expenditures in development stage are capitalized that should meet all the conditions of (a) it is technically
feasible to finish intangible assets for use or sale; (b) it is intended to finish and use or sell the intangible assets; (c)
the usefulness of methods for intangible assets to generate economic benefits shall be proved, including being able
to prove that there is a potential market for the products manufactured by applying the intangible assets or there is
a potential market for the intangible assets itself or the intangible assets will be used internally; (d) it is able to
finish the development of the intangible assets, and able to use or sell the intangible assets, with the support of
sufficient technologies, financial resources and other resources; and (e) the development expenditures of the
intangible assets can be reliably measured. Expenses incurred that don’t meet the above requirements
unanimously should be expensed in the income statement of the reporting period.
The Group discriminates between research and development stage with the condition that the project research has
been determined, in which the relevant research complete all the fractionalization of products measurements and
final product scheme under final approval of management. The expenditures incurred before project-determination
stage is charged to the current income, otherwise it is recorded as development cost.
19、Long-term deferred expenses
The long-term deferred expenses represent the payment for the improvement on buildings and other expenses,
which have been paid and should be deferred in the following years. Long-term deferred expenses are amortized
on the straight-line basis over the expected beneficial period and are presented at actual expenditure net of
accumulated amortization.
20、Contingent liabilities
Except contingent liability recognized in a business combination, the Group recognizes an contingent liability
when the obligation arising from a contingency meets the following conditions:
1) the obligation is a present obligation of the Group;
2) it is probable that an outflow of economic benefits from the Group will be required to settle the obligation;
3) a reliable estimate can be made of the amount of the obligation.
Contingent liabilities are initially measured according to the current best estimate for the expenditure necessary
for the performance of relevant present obligations, with comprehensive consideration given to factors such as the
risks, uncertainty and time value of money relating to contingencies. The book value of the contingent liabilities
should be reviewed at each balance sheet date. If there is objective evidence showing that the book value cannot
reflect the present best estimate, the book value should be adjusted according to the best estimate.
21、Revenue
Revenue is recognized only when an inflow of economic benefits is probable, the amount of which can be reliably
measured, and all of the following conditions are qualified.
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Chongqing Changan Automobile Company Limited 2016 Semi-annual Report
Revenue from the sale of goods
The Group has transferred to the buyer the significant risks and rewards of ownership of the goods; the Group
retains neither continuing management involvement to the degree usually associated with ownership nor effective
control over the goods sold; and the amount of revenue can be measured reliably. The proceeds earned from sales
of goods are determined based on the amount received or receivable as stipulated in the contract or agreement,
otherwise the amount is not fair; If the amount received or receivable as stipulated in the contract or agreement is
collected in a defer method, it includes the financing elements and should be determined according to the fair
value of the amount received or receivable as stipulated in the contract or agreement.
Revenue from the rendering of services
When the outcome of a transaction involving the rendering of services can be estimated reliably at the balance
sheet date, revenue associated with the transaction is recognized using the percentage of completion method, or
otherwise, the revenue is recognized to the extent of costs incurred that are expected to be recoverable. The
outcome of a transaction involving rendering of services can be estimated reliably when all of the following
conditions are satisfied: the amount of revenue can be measured reliably; it is probable that the associated
economic benefits will flow into the Group; the stage of completion of the transaction can be measured reliably;
and the costs incurred and to be incurred for the transaction can be measured reliably. The Group determines the
stage of completion of a transaction involving the rendering of services by using the proportion of services
performed to date to the total services to be performed. The total amount of revenue earned from rendering service
are determined based on the amount received or receivable as stipulated in the contract or agreement, otherwise
the amount is not fair.
Interest income
It should be measured based on the length of time for which the Group’s cash is used by others and the applicable
effective interest rate.
Royalty income
Royalty income is recognized according to the agreed time and method by both parties in related contracts.
Rental income
Rental income from operating leases is recognized by the lesser in the income statement on a straight-line basis
over the lease term.
22、Government grants
A government grant is recognized only when there is reasonable assurance that the entity will comply with any
conditions attached to the grant and the grant will be received. Monetary grants are accounted for at received or
receivable amount. Non-monetary grants are accounted for at fair value. If there is no reliable fair value available,
the grants are accounted for at nominal amount.
A government grant which is specified by the government documents to be used to purchase and construct the
long-term assets shall be recognized as the government grant related to assets. A government grant which is not
specified by the government documents shall be judged based on the basic conditions to obtain the government
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Chongqing Changan Automobile Company Limited 2016 Semi-annual Report
grant. The one whose basic condition was to purchase and construct the long-term assets shall be recognized as
the government grant related to assets.
The other government grant shall be recognized as the government grant related to gain. A grant relating to
income, which as compensation for future costs, is recognized as deferred income initially, and as income when
the related cost incurs. The grant as compensation for costs already incurred should be recognized as income for
the current period. A grant relating to assets is recognized as deferred income initially, and as income evenly
among the useful life of the related assets. The grant accounted for at nominal amount is recognized as income for
the current period.
23、Leases
A finance lease is a lease that transfers in substance all the risks and rewards incident to ownership of an asset. An
operating lease is a lease other than a finance lease.
The Group recording the operating lease as a lessee
Lease payments under an operating lease are recognized by a lessee on a straight-line basis over the lease term,
and either included in the cost of another related asset or charged to the income statement for the current period.
The Group recording the operating lease as a lessor
Rental income from operating leases is recognized by the lesser in the income statement on a straight-line basis
over the lease term.
24、Employee benefits
Employee benefits refer to all kinds of remunerations or compensation made by enterprises to their
employees in exchange for services provided by the employees or termination of labor relation. Employee
compensation includes short-term compensation and post-employment benefits. The benefits offered by
enterprises to the spouse, children, the dependants of the employee, the family member of deceased employee and
other beneficiaries are also employee compensation.
Short-term employee salaries
During the accounting period of employee rendering service, the actural employees salaries and are charged to the
statement of profit or loss as they become payable in balance sheet.
Post-employment benefits (Defined contribution plans)
The employees of the Group participate in pension insurance, which is managed by local government and the
relevant expenditure, is recognized, when incurred, in the costs of relevant assets or the profit and loss for the
current period.
Post-employment benefits (Defined benefit plan)
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Chongqing Changan Automobile Company Limited 2016 Semi-annual Report
The Group operates a defined benefit pension plan which requires contributions to be made to a separately
administered fund. The benefits are unfunded. The cost of providing benefits under the defined benefit plan is
determined using the projected unit credit actuarial valuation method.
Remeasurements arising from defined benefit pension plans are recognised immediately in the consolidated
statement of financial position with a corresponding debit or credit to retained profits through other
comprehensive income in the period in which they occur. Remeasurements are not reclassified to profit or loss
in subsequent periods.
Past service costs are recognised in profit or loss at the earlier of: the date of the plan amendment or curtailment;
and the date that the Group recognises restructuring-related costs
Net interest is calculated by applying the discount rate to the net defined benefit liability or asset. The Group
recognises the following changes in the net defined benefit obligation under administrative expenses in the
consolidated statement of profit or loss by function: service costs comprising current service costs, past-service
costs, gains and losses on curtailments and non-routine settlements;net interest expense or income
Termination benefits
Termination benefits are recognised at the earlier of when the Group can no longer withdraw the offer of those
benefits and when the Group recognises restructuring costs involving the payment of termination benefits.
Other long-term employee benefits
Other long-term employee benefits provided to employee were recognized and measured as other long-term
employee benefits net liabilities or net assets according to relevant post-employement rules. While subsequent
variations are charged to the statement of profit or loss or the cost of relevant assets.
25、Income tax
Income tax comprises current and deferred tax. Income tax is recognized as an income or an expense and include
in the income statement for the current period, except to the extent that the tax arises from a business combination
or if it relates to a transaction or event which is recognized directly in equity.
Current income tax liabilities or assets for the current and prior periods, are measured at the amount expected to
be paid (or recovered) according to the requirements of tax laws.
For temporary differences at the balance sheet date between the tax bases of assets and liabilities and their
carrying amounts, and temporary differences between the carrying amounts and the tax bases of items, the tax
bases of which can be determined for tax purposes, but which have not been recognized as assets and liabilities,
deferred taxes are provided using the liability method.
A deferred tax liability is recognized for all taxable temporary differences, except:
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Chongqing Changan Automobile Company Limited 2016 Semi-annual Report
(1) to the extent that the deferred tax liability arises from the initial recognition of goodwill or the initial
recognition of an asset or liability in a transaction which contains both of the following characteristics: the
transaction is not a business combination and at the time of the transaction, it affects neither the accounting
profit nor taxable profit or loss.
(2) in respect of taxable temporary differences associated with investments in subsidiaries, associates and
interests in jointly-controlled enterprises, where the timing of the reversal of the temporary differences can
be controlled and it is probable that the temporary differences will not reverse in the foreseeable future.
A deferred tax asset is recognized for deductible temporary differences, carry forward of unused tax credits and
unused tax losses, to the extent that it is probable that taxable profit will be available against which the deductible
temporary differences, and the carry forward of unused tax credits and unused tax losses can be utilized except:
(1) where the deferred tax asset relating to the deductible temporary differences arises from the initial
recognition of an asset or liability in a transaction that is not a business combination and, at the time of the
transaction, affects neither the accounting profit nor taxable profit or loss; and
(2) in respect of deductible temporary differences associated with investments in subsidiaries, associates and
interests in joint ventures, deferred tax assets are only recognized to the extent that it is probable that the
temporary differences will reverse in the foreseeable future and taxable profit will be available against
which the temporary differences can be utilized.
At the balance sheet date, deferred tax assets and liabilities are measured at the tax rates that are expected to apply
to the period when the asset is realized or the liability is settled, according to the requirements of tax laws. The
measurement of deferred tax assets and deferred tax liabilities reflects the tax consequences that would follow
from the manner in which the Group expects at the balance sheet date, to recover the assets or settle the liabilities.
At the balance sheet date, the Group reviews the book value of deferred tax assets. If it is probable that sufficient
taxable income cannot be generated to use the tax benefits of deferred tax assets, the book value of deferred tax
assets should be reduced. When it is probable that sufficient taxable income can be generated, the amount of such
reduction should be reversed. When it is probable that sufficient taxable income can be generated, the amount of
such reduction should be reversed.
26、Impairment of assets
The Group determines the impairment of assets, other than the impairment of inventory, deferred income taxes,
and financial assets, using the following methods:
The Group assesses at the balance sheet date whether there is any indication that an asset may be impaired. If any
indication exists that an asset may be impaired, the Group estimates the recoverable amount of the asset and
performs impairment tests. Goodwill arising from a business combination and an intangible asset with an
indefinite useful life are tested for impairment at least at the end of every year, irrespective of whether there is any
indication that the asset may be impaired. An intangible asset which is not ready for its intended use is tested for
impairment at least at the end of every year.
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Chongqing Changan Automobile Company Limited 2016 Semi-annual Report
The recoverable amount of an asset is the higher of its fair value less costs to sell and the present value of the
future cash flow expected to be derived from the asset. The Group estimates the recoverable amount on an
individual basis. If it is not possible to estimate the recoverable amount of the individual asset, the Group
determines the recoverable amount of the asset group to which the asset belongs. Identification of an asset group
is based on whether major cash flows generated by the asset group are independent of the cash flows from other
assets or asset groups.
When the recoverable amount of an asset or asset group is less than its carrying amount, the carrying amount is
reduced to the recoverable amount. The impairment of asset is provided for and the impairment loss is recognized
in the income statement for the current period.
For the purpose of impairment testing, the carrying amount of goodwill acquired in a business combination is
allocated, on a reasonable basis, to related asset groups; if it is impossible to allocate to the related asset groups, it
is allocated to each of the related sets of asset groups. Each of the related asset groups or related sets of asset
groups is a group or set of asset group that is able to benefit from the synergies of the business combination and
shall not be larger than a reportable segment determined by the Group.
When an impairment test is conducted on an asset group or a set of asset groups that contains goodwill, if there is
any indication of impairment, the Group firstly tests the asset group or the set of asset groups excluding the
amount of goodwill allocated for impairment, i.e., it determines and compares the recoverable amount with the
related carrying amount and then recognize impairment loss if any. Thereafter, the Group tests the asset group or
set of asset groups including goodwill for impairment, the carrying amount (including the portion of the carrying
amount of goodwill allocated) of the related asset group or set of asset groups is compared to its recoverable
amount. If the carrying amount of the asset group or set of asset groups is higher than its recoverable amount, the
amount of the impairment loss is firstly eliminated by and amortized to the book value of the goodwill included in
the asset group or set of asset groups, and then eliminated by the book value of other assets according to the
proportion of the book values of assets other than the goodwill in the asset group or set of asset groups.
Once the above impairment loss is recognized, it cannot be reversed in subsequent periods.
27、Profit distribution
The cash dividend of the Group is recognized as liabilities after the approval of general meeting of stockholders.
28、Safety fund
The safety fund extracted by the Group shall be recognized as the cost of the related products or income statement,
while be recognized as special reserve. When using safety fund, it shall be distinguished whether it will form fixed
assets or not. The expenditure shall write down the special reserve; the capital expenditure shall be recognized as
fixed assets when meet the expected conditions for use, and write down the special reserve while recognizing
accumulated depreciation with the same amount
29、Fair value measurement
The Group measures its equity investments at fair value at the end of each reporting period. Fair value is the
price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market
participants at the measurement date. The fair value measurement is based on the presumption that the
transaction to sell the asset or transfer the liability takes place either in the principal market for the asset or
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Chongqing Changan Automobile Company Limited 2016 Semi-annual Report
liability, or in the absence of a principal market, in the most advantageous market for the asset or liability. The
principal or the most advantageous market must be accessible by the Group. The fair value of an asset or a
liability is measured using the assumptions that market participants would use when pricing the asset or liability,
assuming that market participants act in their economic best interest.
A fair value measurement of a non-financial asset takes into account a market participant’s ability to generate
economic benefits by using the asset in its highest and best use or by selling it to another market participant that
would use the asset in its highest and best use. The Group uses valuation techniques that are appropriate in the
circumstances and for which sufficient data are available to measure fair value, maximising the use of relevant
observable inputs and minimising the use of unobservable inputs.
All assets and liabilities for which fair value is measured or disclosed in the financial statements are categorised
within the fair value hierarchy, described as follows, based on the lowest level input that is significant to the fair
value measurement as a whole: Level 1 – based on quoted prices (unadjusted) in active markets for identical
assets or liabilities; Level 2 – based on valuation techniques for which the lowest level input that is significant to
the fair value measurement is observable, either directly or indirectly; Level 3 – based on valuation techniques for
which the lowest level input that is significant to the fair value measurement is unobservable
For assets and liabilities that are recognised in the financial statements on a recurring basis, the Group determines
whether transfers have occurred between levels in the hierarchy by reassessing categorisation (based on the lowest
level input that is significant to the fair value measurement as a whole) at the end of each reporting period.
30、Significant accounting judgments and estimates
The preparation of financial statements requires management to make judgments, estimates and assumptions that
affect the amounts and disclosures of revenues, expenses, assets and liabilities, and the disclosure of contingent
liabilities, at the balance sheet date. However, uncertainty about these assumptions and estimates could result in
outcomes that could require a material adjustment to the carrying amounts of the assets or liabilities affected in the
future.
Judgments
In the process of applying the Group’s accounting policies, management has made the following judgments which
have significant effect on the financial statements:
Operating leases - as lessor
The Group has entered into commercial property leases on its investment property portfolio. The Group has
determined, based on an evaluation of the terms and conditions of the arrangements, that it retains all the
significant risks and rewards of ownership of these properties which are leased out on operating leases.
Uncertainty of accounting estimates
The crucial assumptions of significant accounting estimates in future and other crucial sources of estimated
uncertainty, which may result in the significant adjustments to the book value of the subsequent accounting period,
are as the following:
Impairment of available-for-sale
The Group classifies certain assets as available for sale and recognises movements of their fair values in equity.
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Chongqing Changan Automobile Company Limited 2016 Semi-annual Report
When the fair value declines, management makes assumptions about the decline in value to determine whether
there is an impairment that should be recognized in the income statement.
Impairment of non-current assets other than financial assets (goodwill excluded)
The Group assesses at each reporting date whether there is an indication that non-current assets other than
financial assets may be impaired. If there is any sign of possible assets impairment, the assets concerned should be
subject to impairment test. When the carrying amount of an asset or the relevant assets group exceeds its
recoverable amount which is the higher one of the net amount of the fair value of the asset minus the disposal
expenses and the present value of the expected future cash flow of the asset, the asset is considered impaired. The
fair value minus the disposal expenses is determined by reference to the recent market transactions price or
observed market price less any directly attributable expenditure for disposing. When making an estimate of the
present value of the future cash flow of an asset, the Group should estimate the future cash flows of the asset or
the relevant assets group, with the appropriate discount rate selected to reflect the present value of the future cash
flows.
Bad debt provisions
Provisions are made under the allowance method. For each individually significant receivable, the impairment test
should be conducted individually. Where there is evidence that indicates impairment, the loss should be
recognized with the respective provision accrued, equaling to the difference between the present value of the
future cash flows and the book value of receivables. For other receivables concerned, management should accrue
the general provisions, along with the receivables individually tested while no impairment incurred, taking in
account the collectability.
Inventory impairment based on the net realizable value
According to accounting policy, inventories shall be measured at the lower of cost and the net realizable value.
Provision for inventories is recognized in the income statement when the cost is higher than the net realizable
value and when the inventories are obsolete and slow-moving. The Group will reassess whether a single inventory
is obsolete, slow-moving or whether the net realizable value is lower than the inventories’ cost at end of each year.
Development expenditures
When determining the capitalization amount, management should make assumptions such as the expected cash
flows of the assets related, the applicable discount rate and expected benefit period.
Deferred tax assets
The Group should recognize the deferred income tax assets arising from all the existing unutilized tax deficits and
deductible temporary differences to the extent of the amount of the taxable income which it is most likely to
obtain and which can be deducted from the deductible temporary differences. Enormous accounting judgments, as
well as the tax planning are compulsory for management to estimate the time and amount of prospective taxable
profits and thus determine the appropriate amount of the deferred tax assets concerned.
Warranty
The Group provides warranties on automobile and undertakes to repair or replace items that fail to perform
satisfactorily based on certain pre-determined conditions. Management estimates the related warranty claims
based on historical warranty claim information including level of repairs and returns as well as recent trends that
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Chongqing Changan Automobile Company Limited 2016 Semi-annual Report
might suggest that past cost information may differ from future claims. Factors that could impact the estimated
claim information include the success of the Group’s quality controls, as well as parts and labour costs. Any
increase or decrease in the provision would affect profit or loss in future years.
Depreciation and amortization
The Group’s management determines the estimated useful lives and residual value of fixed assets and intangible
assets. This estimate is based on the historical experience of actual useful lives of fixed assets and intangible
assets of similar nature and functions. Management will increase the depreciation and amortization charges where
useful lives are less than previously estimated.
31、The change of major accounting policies and estimates
During the reporting period, the change of accounting policy and estimates occured
□ Yes √ No
（1）the change of accounting policy
During the reporting period, the change of major accounting policy occured
□ Yes √ No
（2）the change of accounting estimates
During the reporting period, the change of major accounting estimates occured
□ Yes √ No
VI、Taxes
1、The major categories of taxes and surcharges
Categories of taxes and surcharges Basis of tax Tax rate
Levy on the taxable sales and rendering of services,
Value added tax (“VAT”) 6% or 17%
deducted the deductible input VAT.
Consumption tax Taxable sales 1%,3% or5%
Business tax Taxable sales 5%
City maintenance and construction tax The turnover taxes paid 5% or7%
Educational surcharge The turnover taxes paid 3%
Local educational surcharge The turnover taxes paid 2%
Corporate income tax Taxable income 15% or25%
2、Tax benefits
In accordance to Circular for Further Implementation of Tax Incentives In the Development of Western Regions (Cai Shui [2011] No.
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Chongqing Changan Automobile Company Limited 2016 Semi-annual Report
58) collectively issued by the ministry of Finance, the Customs General Administration and the National Taxation Bureau of PRC,
from 1 January 2011 to 31 December 2020, enterprises located in the Western Region and engaged in encouraged business would be
entitled to a preferential CIT rate of 15%.. For the year ended 2015, the Company, Changan Special Sales and Chongqing Changan
Automobile Supporting are qualified to the requirement and acquired permission of the preferential tax rate of 15% from Chongqing
Jiangbei National Tax Bureau (refer to Jiang Fa Gai Ti[2015] No. 135).
As at 4 November 2011, in accordance to Circular of the Administrative Measures for the Certification of New and High Technology
Enterprises (Guo Ke Fa Huo [2008] No. 172) and Circular of the Working Guidance on the Recognition of Hi-tech Enterprises (Guo
Ke Fa Huo [2008] No. 362), and ratification of Hebei High-Tech Enterprise Recognition Office (Ji Gao Ban [2014] No. 7), the
subsidiaries, Hebei Baoding Changan Bus Co., Ltd. and Hebei Changan Automobile Co., Ltd. were recognized as Hi-tech enterprises
and subjected to the preferential tax rate of 15%.
.VII、Notes to the consolidated financial statements
1、Cash and cash equivalents
Unit： yuan
Item Ending Beginning
Cash 61,044.00 43,967.74
Cash at bank 21,090,087,123.23 17,725,877,373.48
Other cash 268,165,685.72 309,188,332.99
Total 21,358,313,852.95 18,035,109,674.21
As at 30 June 2016, the book value of restricted cash and cash equivalents is RMB268,165,685.72, which was mainly restricted for
the issuance of acceptance bill.
As at 30 June 2016, the cash at bank oversea is equivalent to RMB 181,812,203.05.
2、Notes receivable
（1）Classification of notes receivable
Type Ending Beginning
Commercial acceptance bill 5,556,189,335.50 6,532,799,490.50
Bank acceptance bill 14,277,049,890.05 16,150,296,720.96
Total 19,833,239,225.55 22,683,096,211.46
（2）Endorsed or discounted but unexpired notes receivable as at the end of reporting period are as follows:
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Chongqing Changan Automobile Company Limited 2016 Semi-annual Report
Ending Beginning
Type
Derecognition Un-derecognition Derecognition Un-derecognition
Commercial acceptance bill - - 45,000,000.00 -
Bank acceptance bill 3,978,644,010.00 - 2,103,475,070.03 -
Total 3,978,644,010.00 - 2,148,475,070.03 -
3、Accounts receivable
(1) An analysis of the accounts receivable by category as at the end of the reporting period is as follows:
Ending Beginning
Item Balance Provision Balance Provision
Amount % Amount % Amount % Amount %
Individually
significant items
and analyzed 722,732,478.42 46.43 6,640,100.00 0.92 106,141,701.22 11.29 - -
individually for
provision
Accounts receivable analyzed as groups for provision
Group 1. Accounts
receivable
analyzed for
652,729,716.49 41.93 60,211,358.90 9.22 655,787,930.16 69.74 54,821,759.22 8.36
provision
according to aging
analysis
Group 2. Accounts
receivable from 171,322,359.48 11.01 - - 168,371,684.39 17.90 - -
related parties
Group subtotal 824,052,075.97 52.94 60,211,358.90 7.31 824,159,614.55 87.64 54,821,759.22 6.65
Individually
insignificant items
but analyzed 9,887,063.92 0.64 9,886,638.42 100.00 10,037,100.70 1.07 10,037,100.70 100.00
individually for
provision
Total 1,556,671,618.31 100.00 76,738,097.32 4.93 940,338,416.47 100.00 64,858,859.92 6.90
Within groups, accounts receivable analyzed for provision according to aging analysis:
Ending Beginning
Aging Balance Balance
Provision Provision
Amount % Amount %
Within 6 months 417,821,364.41 64.01 - 535,515,703.25 81.66 -
6 to 12 months 140,641,728.08 21.55 7,032,086.40 20,626,137.08 3.15 1,031,306.85
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Chongqing Changan Automobile Company Limited 2016 Semi-annual Report
Within 1 year
558,463,092.49 85.56 7,032,086.40 556,141,840.33 84.81 1,031,306.85
subtotal
1 to 2 years 40,165,823.96 6.15 4,016,117.46 43,659,191.63 6.65 4,365,919.16
2 to 3 years 3,053,600.00 0.47 916,080.00 5,521,200.00 0.84 1,656,360.01
3 to 4 years 5,219,950.00 0.80 2,609,975.00 4,752,350.00 0.72 2,376,175.00
4 to 5 years 950,750.00 0.15 760,600.00 1,606,750.00 0.25 1,285,400.00
Over 5 years 44,876,500.04 6.88 44,876,500.04 44,106,598.20 6.73 44,106,598.20
Total 652,729,716.49 100.00 60,211,358.90 655,787,930.16 100.00 54,821,759.22
Individually significant items and analyzed individually for provision:
√Yes □ No
Proportion of
Accounts receivable Balance Provision Reason
impairment (%)
Chengde Kaixiang Urban and Rural Bus Significant amount of
15,996,000.00 809,600.00 5.06
Co. individual
Significant amount of
Laishui Huizetong Bus Co. Ltd. 15,200,000.00 760,000.00 5.00
individual
Significant amount of
Qingxian Public Transport Co., Ltd. 16,180,000.00 809,000.00 5.00
individual
Significant amount of
Quyang Public Transportation Co., Ltd. 30,230,000.00 1,511,500.00 5.00
individual
Significant amount of
Yixian Minyi City Bus Service Center 15,200,000.00 760,000.00 5.00
individual
Significant amount of
Zhangjiakou JinMeng Transport Co., Ltd. 15,900,000.00 795,000.00 5.00
individual
Zhangjiakou Xuanhua Bus Transport Co., Significant amount of
23,900,000.00 1,195,000.00 5.00
Ltd. individual
Virtual Dealers with New Energy Significant amount of
213,570,000.00 - -
Subsidies from Central Finance individual
Virtual Dealers with New Energy Significant amount of
108,510,000.00 - -
Subsidies from Local Finance individual
Significant amount of
Beijing Changfeng Trading Company 62,203,517.22 - -
individual
Significant amount of
Sichuan Zhongcheng Industrial Co., Ltd. 44,853,252.49 - -
individual
Beijing Xinxingkuaima Automobile Significant amount of
32,654,206.86 - -
Service Co. individual
Zhengzhou Xinjiyuan Auto Sales Co., Significant amount of
19,406,690.12 - -
Ltd. individual
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Chongqing Changan Automobile Company Limited 2016 Semi-annual Report
SAIPA AUTO ENGINEERING & Significant amount of
54,705,804.90 - -
TRADING CO. (SETCO) individual
Significant amount of
ARAB MOTORS 54,223,006.83 - -
individual
合计 Total 722,732,478.42 6,640,100.00 0.92 --
(2) In June 30, 2016, provision for impairment of accounts receivable amounting to RMB 11,879,237.40 has been accrued.
Provision for impairment of accounts receivable amounting to RMB 0 has been reversed.
(3) As at 30 June 2016, there are no provisions written off.
(4) As at 30 June 2016, top five debtors of accounts receivable are as follows:
Proportion of total
Debtors Ending balance Duration
accounts receivable (%)
First 213,570,000.00 Within 1 year 13.72
Second 108,510,000.00 Within 1 year 6.97
Third 86,827,183.54 Within 1 year 5.58
Fourth 68,715,199.09 Within 1 year 4.41
Fifth 62,203,517.22 Within 1 year 4.00
Total 539,825,899.85 34.68
4、Other receivables
(1) An analysis of the other receivables by category as at the end of reporting period is as follows
Ending Beginning
Item Balance Provision Balance Provision
Amount % Amount % Amount % Amount %
Individually significant
items and analyzed
812,293,957.60 65.41 - - 812,880,000.00 80.82 - -
individually for
provision
Other receivables analyzed as groups for provision
Group 1: Other
receivables analyzed for
342,754,326.63 27.60 2,488,101.92 0.73 107,047,831.33 10.64 2,377,217.93 2.22
provision according to
aging analysis
Group 2: Other
80,000,000.00 6.44 - - 83,934,632.00 8.35 - -
receivables from related
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Chongqing Changan Automobile Company Limited 2016 Semi-annual Report
parties
Group subtotal 422,754,326.63 34.04 2,488,101.92 0.59 190,982,463.33 18.99 2,377,217.93 1.24
individually insignificant
items but analyzed
6,798,271.89 0.55 1,884,213.22 27.72 1,884,213.22 0.19 1,884,213.22 100
individually for
provision
Total 1,241,846,556.12 100 4,372,315.14 0.35 1,005,746,676.55 100 4,261,431.15 0.42
Within groups, other receivables analyzed for provision according to aging analysis
Ending Beginning
Aging Balance Balance
Provision Provision
Amount % Amount %
Within 1 year
Within 6 months 334,218,505.07 97.51 - 101,517,856.97 94.83 -
6 to 12 months 5,663,660.40 1.65 283,183.02 2,102,465.20 1.96 105,123.25
Within 1 year subtotal 339,882,165.47 99.16 283,183.02 103,620,322.17 96.79 105,123.25
1 to 2 years 699,943.71 0.20 69,994.37 980,114.30 0.92 98,011.43
2 to 3 years - - - 99,781.94 0.09 29,934.58
3 to 4 years 74,585.84 0.02 37,292.92 297,156.91 0.28 148,578.46
4 to 5 years - - - 274,429.01 0.26 219,543.21
Over 5 years 2,097,631.61 0.61 2,097,631.61 1,776,027.00 1.66 1,776,027.00
Total 342,754,326.63 100.00 2,488,101.92 107,047,831.33 100 2,377,217.93
As at 30 June 2016, the individually significant items analyzed individually for provision as follows:
Proportion of
Other receivable Balance Provision impairment Reason
(%)
Nanjing Dongchi Automobile Industry Long aging, less possibility of
1,884,213.22 1,884,213.22 100.00
(Group) Co., Ltd receivable.
合计 Total 1,884,213.22 1,884,213.22 -- --
(2) For the year ended 30 June 2016, provision for impairment of other receivables amounted to RMB 297,169.49 has been
accrued. For the year ended 30 June 2016, provision for impairment of other receivables amounted to RMB 186,285.50 has been
reversed.
(3) For the year ended 30 June 2016, provision for impairment of other receivables amounted to 0.
(4) As at 30 June 2016, top five debtors of other receivables are as follows:
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Chongqing Changan Automobile Company Limited 2016 Semi-annual Report
Proportion of total
Debtors Ending balance accounts receivable Provision (%)
(%)
First 265,216,800.00 Within 6 months 21.36
Second 20,711,202.70 Within 6 months 1.67
Third 13,041,000.00 Within 6 months 1.05
Fourth 5,626,230.16 Within 6 months 0.45
Fifth 5,318,788.70 Within 6 months 0.43
Total 309,914,021.56 - 24.96
5、Prepayments
An aged analysis of the prepayments is as follows:
Ending Beginning
Aging
Amount Percentage (%) Amount Percentage (%)
Within 1 year 980,604,675.43 98.97 845,113,206.61 99.19
1 to 2 years 8,487,960.68 0.86 5,057,781.43 0.59
2 to 3 years 375,538.70 0.03 1,215,374.60 0.14
Over 3 years 1,344,875.11 0.14 685,431.90 0.08
Total 990,813,049.92 100.00 852,071,794.54 100.00
As at 30 June 2016, top five debtors of other receivables are as follows:
Proportion of total accounts
Debtors Ending balance Provision
receivable (%)
First 295,787,096.80 Within 6 months Prepaymemt for steel and goods not received yet
Second 169,876,216.99 Within 6 months Prepaymemt for steel and goods not received yet
Third 169,787,175.66 Within 6 months Prepaymemt for steel and goods not received yet
Prepaymemt for steel and wrting off procedures not
Fourth 131,273,289.87 Within 6 months
finished yet
Fifth 78,763,683.05 Within 1-6 months Prepaymemt for steel and goods not received yet
Total 845,487,462.37 -- --
6、Inventory
（1） Classification of inventory
Item Ending Beginning
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Chongqing Changan Automobile Company Limited 2016 Semi-annual Report
Balance Provision Net value Balance Provision Net value
Raw materials 306,683,452.48 123,670,733.88 183,012,718.60 540,301,100.91 112,671,279.09 427,629,821.82
Work in transit 44,564,629.57 - 44,564,629.57 55,664,733.61 - 55,664,733.61
Work in progress 521,248,960.39 25,429,251.20 495,819,709.19 468,242,137.94 33,014,300.12 435,227,837.82
Commodity stock 9,493,753,391.79 138,062,132.87 9,355,691,258.92 7,165,061,259.82 140,838,362.77 7,024,222,897.05
revolving material - - - 48,430,606.84 - 48,430,606.84
consumptive
132,260,689.60 - 132,260,689.60 137,899,234.78 - 137,899,234.78
biological assets
Spare parts 293,665.56 - 293,665.56 - - -
Total 10,498,804,789.39 287,162,117.95 10,211,642,671.44 8,415,599,073.90 286,523,941.98 8,129,075,131.92
（2）Provision for inventory
Deduction
Type Beginning Provision Ending
Reversal Write-off
Raw materials 112,671,279.09 14,765,878.24 1,162,242.12 2,604,181.33 123,670,733.88
Work in progress 33,014,300.12 220,389.39 2,193,088.74 5,612,349.57 25,429,251.20
Commodity stock 140,838,362.77 123,642,979.58 7,258,644.71 119,160,564.77 138,062,132.87
Total 286,523,941.98 138,629,247.21 10,613,975.57 127,377,095.67 287,162,117.95
7、Other current assets
Item Ending Beginning
Accrual input tax - -
Others 6,933,522.91 8,909,736.44
Total 6,933,522.91 8,909,736.44
8、Available-for-sale financial assets
Item Ending Beginning
Available-for-sale equity securites 257,730,000.00 351,450,000.00
Other 179,361,274.00 179,361,274.00
Total 437,091,274.00 530,811,274.00
1. The available-for-sale equity securites are the 35.50 million shares of Southwest Securities Co., Ltd as of 30th ,June,2016.
2. Others: On 30th ,June,2016, the group’s ownership, measured by the cost of the investment, does not have control, joint control or
significant influence and there is no offer in the active market, the fair value can not be reliably measured by the equity investment.
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Chongqing Changan Automobile Company Limited 2016 Semi-annual Report
9、Long-term equity investment
Explanation for
the difference
between
Shareholdi shareholding
ng Voting percentage and
Accounting Addition/ percentage percentage voting Impair Current Current cash
Investee method Initial amount Beginning (deduction) Ending (%) (%) percentage ment provision dividends
Joint ventures
Chongqing Changan Suzuki
Equity 237,719,933.33 1,211,881,807.44 8,572,426.12 1,220,454,233.56 50 50 N/A - - -
Automobile Co., Ltd
Jiangling Holding Co., Ltd Equity 1,008,511,522.00 2,708,643,943.64 150,430,712.08 2,859,074,655.72 50 50 N/A - - -
Changan Ford Automobile Co.,
Ltd （former name: Changan
Equity 975,232,926.29 5,504,416,392.18 235,590,447.59 5,740,006,839.77 50 50 N/A - - 4,330,000,000.00
Ford Mazda Automobile Co.,
Ltd）
Changan Mazda Automobile
Equity 1,097,839,635.00 1,998,126,415.64 475,489,615.75 2,473,616,031.39 50 50 N/A - - -
Co., Ltd
Changan Ford Mazda Engine
Equity 786,734,634.10 781,796,686.36 83,930,973.87 865,727,660.23 50 50 N/A - - -
Co., Ltd
Changan PSA Automobiles Co.,
Equity 2,007,841,700.00 1,462,904,374.63 -39,866,555.46 1,423,037,819.17 50 50 N/A
Ltd，a JV of the Company
Associates
Chongqing Xiyi Automobile
Equity 7,600,027.62 7,511,430.77 -9,644.73 7,501,786.04 40 40 N/A - - -
Linkage Rod Co., Ltd
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Chongqing Changan Automobile Company Limited 2016 Semi-annual Report
Chongqing Changan Kuayue
Equity 61,800,885.00 76,219,385.83 2,861,788.93 79,081,174.76 34.3 34.3 N/A - - -
Automobile Co., Ltd
Chongqing Changan Kuayue
Equity 1.00 - - 34.3 34.3 N/A - - -
Automobile Sales Co., Ltd
Beijing Fangan Taxi LLC Equity 6,000,000.00 - - 42.25 42.25 N/A - - -
Chongqing Auto Finance Co.Ltd Equity 1,155,000,000.00 1,155,000,000.00 -42,623,494.17 1,112,376,505.83 35 35 N/A - - -
Total -- 7,344,281,264.34 14,906,500,436.49 874,376,269.98 15,780,876,706.47 -- -- -- - - 4,330,000,000.00
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Chongqing Changan Automobile Company Limited 2016 Semi-annual Report
10、Investment property
According to the cost of the investment real estate
Item Beginning Addition Deduction Ending
I. Original cost 10,050,100.00 - - 10,050,100.00
Buildings 10,050,100.00 - - 10,050,100.00
II. Accumulated depreciation and
2,040,404.04 113,355.78 - 2,153,759.82
amortization
Buildings 2,040,404.04 113,355.78 - 2,153,759.82
III. Net Value 8,009,695.96 -113,355.78 - 7,896,340.18
Buildings 8,009,695.96 -113,355.78 - 7,896,340.18
IV. Impairment Provision 8,009,695.96 -113,355.78 - 7,896,340.18
Buildings 8,009,695.96 -113,355.78 - 7,896,340.18
11、Fixed assets
Item Beginning Addition Deduction Ending
I. Original cost 23,017,735,783.58 646,815,886.15 68,404,297.36 23,596,147,372.37
Buildings 6,025,351,237.91 442,769,068.46 144,867.87 6,467,975,438.50
Machinery 12,918,726,114.92 134,071,650.34 51,100,173.31 13,001,697,591.95
Vehicles 102,607,140.62 3,640,226.49 2,638,840.03 103,608,527.08
Other Equipments 3,971,051,290.13 66,334,940.86 14,520,416.15 4,022,865,814.84
-- Beginning Addition Deduction Ending
II. Accumulated
8,294,500,499.01 748,674,830.30 35,681,103.54 9,007,494,225.77
depreciation
Buildings 1,096,331,550.20 87,101,538.30 51,690.79 1,183,381,397.71
Machinery 5,393,122,603.16 584,957,976.93 22,926,715.66 5,955,153,864.43
Vehicles 47,611,603.57 1,957,858.34 1,938,028.32 47,631,433.59
Other Equipments 1,757,434,742.08 74,657,456.73 10,764,668.77 1,821,327,530.04
-- Beginning Addition Deduction Ending
III. Net Value 14,723,235,284.57 -101,858,944.15 32,723,193.82 14,588,653,146.60
Buildings 4,929,019,687.71 355,667,530.16 93,177.08 5,284,594,040.79
Machinery 7,525,603,511.76 -450,886,326.59 28,173,457.65 7,046,543,727.52
Vehicles 54,995,537.05 1,682,368.15 700,811.71 55,977,093.49
Other Equipments 2,213,616,548.05 -8,322,515.87 3,755,747.38 2,201,538,284.80
IV. Impairment Provision 812,997,753.76 2,227,192.31 3,313,376.37 811,911,569.70
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Chongqing Changan Automobile Company Limited 2016 Semi-annual Report
Buildings 84,279,067.92 - - 84,279,067.92
Machinery 667,183,282.50 2,227,192.31 3,297,067.65 666,113,407.16
Vehicles 9,011,534.73 - 16,308.72 8,995,226.01
Other Equipments 52,523,868.61 - - 52,523,868.61
V. Book Value 13,910,237,530.81 -104,086,136.46 29,409,817.45 13,776,741,576.90
Buildings 4,844,740,619.79 355,667,530.16 93,177.08 5,200,314,972.87
Machinery 6,858,420,229.26 -453,113,518.90 24,876,390.00 6,380,430,320.36
Vehicles 45,984,002.32 1,682,368.15 684,502.99 46,981,867.48
Other Equipments 2,161,092,679.44 -8,322,515.87 3,755,747.38 2,149,014,416.19
This 748,674,830.30 yuan depreciation; During the period the construction in progress amounting to 646,815,886.15 yuan is transferred to the fixed
asset.
12、Construction in progress
(1) Details of construction in progress
closing balance openning balance
Item
Balance Provision Book value Balance Provision Book value
Mini-bus production
154,445,540.15 - 154,445,540.15 90,984,573.86 - 90,984,573.86
equipment
Yuzui motor city project 1,408,427,400.12 - 1,408,427,400.12 758,263,413.23 - 758,263,413.23
Sedan production equipment 8,326,017.27 - 8,326,017.27 42,051,572.59 - 42,051,572.59
Engine production 1,888,696,373.45 - 1,888,696,373.45 1,324,035,600.35 - 1,324,035,600.35
Vehicle research institution 94,621,759.95 - 94,621,759.95 59,928,820.28 - 59,928,820.28
Car moulds 55,991,547.48 - 55,991,547.48 250,678,762.19 - 250,678,762.19
Hebei Bao Ke light vehicle
36,083,517.63 - 36,083,517.63 48,649,227.54 - 48,649,227.54
project
Plant for vehicle test project 3,451,793.25 - 3,451,793.25 45,137,091.95 - 45,137,091.95
Beijing vehicle construction
208,477,553.74 - 208,477,553.74 85,977,811.61 - 85,977,811.61
project
Nanjing engine base 1,276,138.23 - 1,276,138.23 3,543,517.10 - 3,543,517.10
Yuzui rectification plant 28,431,087.54 - 28,431,087.54 25,998,204.34 - 25,998,204.34
Hefei Changan vehicle project 235,975,776.73 - 235,975,776.73 162,436,108.67 - 162,436,108.67
Nanjing welding project 43,943,231.06 - 43,943,231.06 44,360,154.14 - 44,360,154.14
Others 483,573,741.29 - 483,573,741.29 121,829,149.07 - 121,829,149.07
Total 4,651,721,477.89 - 4,651,721,477.89 3,063,874,006.92 - 3,063,874,006.92
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Chongqing Changan Automobile Company Limited 2016 Semi-annual Report
(2) Movement of major construction in progress projects
Budget（ten
Transferred to
Item thousand Beginning Addition Deduction Ending
fixed assets
yuan）
Mini-bus production
250,000.00 90,984,573.86 93,017,218.62 29,556,252.33 - 154,445,540.15
equipment
Yuzui motor city project 750,000.00 758,263,413.23 656,832,627.22 6,668,640.33 - 1,408,427,400.12
Sedan production equipment 1,050,000.00 42,051,572.59 10,476,119.06 44,201,674.38 - 8,326,017.27
Engine production 650,000.00 1,324,035,600.35 602,699,167.16 38,038,394.06 - 1,888,696,373.45
Vehicle research institution 250,000.00 59,928,820.28 44,892,865.98 10,199,926.31 - 94,621,759.95
Vehicle moudles 180,000.00 250,678,762.19 33,465,001.31 228,152,216.02 - 55,991,547.48
Hebei Bao Ke light vehicle
15,000.00 48,649,227.54 42,686,468.21 55,252,178.12 - 36,083,517.63
project
Plant for vehicle test project 260,000.00 45,137,091.95 5,871,318.51 47,556,617.21 - 3,451,793.25
Beijing vehicle construction
280,000.00 85,977,811.61 137,384,898.10 14,885,155.97 - 208,477,553.74
project
Nanjing Engine project 12,000.00 3,543,517.10 465,594.94 2,732,973.81 - 1,276,138.23
Yuzui plant building 50,000.00 25,998,204.34 2,937,599.99 504,716.79 - 28,431,087.54
Hefei Changan Car project 60,000.00 162,436,108.67 76,780,457.22 3,240,789.16 - 235,975,776.73
Nanjing welding project 20,000.00 44,360,154.14 416,923.08 - 43,943,231.06
Others 68,000.00 121,829,149.07 527,154,020.80 165,409,428.58 - 483,573,741.29
合计 Total 3,895,000.00 3,063,874,006.92 2,234,663,357.12 646,815,886.15 - 4,651,721,477.89
（3）Impairment for construction in progress
None
13、Construction materials
Item Beginning Addition Deduction Ending
Specific materials 96,690.75 96,690.75
Total 96,690.75 96,690.75
14、liquidation of fixed assets
Item Beginning Ending
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Chongqing Changan Automobile Company Limited 2016 Semi-annual Report
machinery equipment 4,756.69 -
office equipment 7,655.84 -
Total 12,412.53 -
15、Intangible assets
（1）Details of intangible assets
Item Beginning Addition Deduction Ending
I. Original cost 4,695,016,247.14 852,558,123.80 - 5,547,574,370.94
Land use rights 2,137,762,363.93 218,088,206.00 - 2,355,850,569.93
Software use rights 370,981,530.88 3,439,386.97 - 374,420,917.85
Trademark use rights 211,784,400.00 110,585,058.92 - 322,369,458.92
Non-patent technology 1,974,487,952.33 520,445,471.91 - 2,494,933,424.24
II. Accumulated amortization 1,733,848,481.24 246,403,179.65 - 1,980,251,660.89
Land use rights 186,841,350.16 23,297,261.44 - 210,138,611.60
Software use rights 311,958,198.25 27,157,093.44 - 339,115,291.69
Trademark use rights 118,447,706.48 20,290,600.07 - 138,738,306.55
Non-patent technology 1,116,601,226.35 175,658,224.70 - 1,292,259,451.05
III. Net Value 2,961,167,765.90 606,154,944.15 - 3,567,322,710.05
Land use rights 1,950,921,013.77 194,790,944.56 - 2,145,711,958.33
Software use rights 59,023,332.63 -23,717,706.47 - 35,305,626.16
Trademark use rights 93,336,693.52 90,294,458.85 - 183,631,152.37
Non-patent technology 857,886,725.98 344,787,247.21 - 1,202,673,973.19
IV. Impairment Provision 117,836,023.23 - - 117,836,023.23
Land use rights - - - -
Software use rights 21,319,804.81 - - 21,319,804.81
Trademark use rights - - -
Non-patent technology 96,516,218.42 - 96,516,218.42
V. Book Value 2,843,331,742.67 606,154,944.15 - 3,449,486,686.82
Land use rights 1,950,921,013.77 194,790,944.56 - 2,145,711,958.33
Software use rights 37,703,527.82 -23,717,706.47 - 13,985,821.35
Trademark use rights 93,336,693.52 90,294,458.85 - 183,631,152.37
Non-patent technology 761,370,507.56 344,787,247.21 - 1,106,157,754.77
As at 30 June 2016, the intangible assets from internal research and development account for 32% of total
intangible assets.
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Chongqing Changan Automobile Company Limited 2016 Semi-annual Report
16. Development expenditure
Deduction Ending
Charged to income Charged to income
Item Beginning Addition
Statement of the Current Statement of the Current
period period
Automobile
1,093,462,382.64 1,002,179,889.33 612,934,383.56 634,017,861.64 848,690,026.77
Development
Total 1,093,462,382.64 1,002,179,889.33 612,934,383.56 634,017,861.64 848,690,026.77
17、Goodwill
Addition Deduction Impairment
Investee Beginning Ending
provision
Hebei Changan Automobile Co., Ltd 9,804,394.00 - - 9,804,394.00 -
Nanjing Changan Automobile Co.,
- - - - 73,465,335.00
Ltd
Total 9,804,394.00 - - 9,804,394.00 73,465,335.00
18、Long-term deferred expenses
Item Beginning Addition amortization Amortization Ending
Gaobao Lake
180,080.00 - 90,040.00 - 90,040.00
Reservir Greening
Tools 1,611,611.27 608,965.66 1,943,551.29 - 277,025.64
Others 6,237,120.00 7,322,881.49 78,600.00 - 13,481,401.49
Total 8,028,811.27 7,931,847.15 2,112,191.29 - 13,848,467.13
19、Deferred tax assets and liabilities
Deferred tax assets and liabilities are listed separately.
(1) Recognized deferred tax assets and liabilities:
Item Ending Beginning
Deferred tax assets
Provision for the impairment of assets 167,709,129.15 164,719,478.60
Accrued expenses and contingent liabilities 646,605,643.76 735,719,281.09
Unpaid tech development expense and advertisement
24,973,573.46 46,147,184.88
expense
Deferred income 328,739,537.14 364,678,745.96
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Chongqing Changan Automobile Company Limited 2016 Semi-annual Report
Unpaid salary and bonus and others 175,485,799.22 104,346,500.59
Subtotal 1,343,513,682.73 1,415,611,191.12
Deferred tax liabilities
Available-for-sale financial assets on the changes in fair
35,227,500.00 49,285,500.00
value
Others 1,319,329.50 -
Subtotal 36,546,829.50 49,285,500.00
20、Provision for the impairment of assets
Deduction Ending
Item Beginning Addition
Reversal Write-off
I. Bad debt provision 69,120,291.07 12,176,406.90 186,285.51 - 81,110,412.46
II. Provision for obsolete
286,523,941.98 138,629,247.21 10,613,975.57 127,377,095.67 287,162,117.95
inventory
III. Provision for the impairment
812,997,753.76 2,227,192.31 - 3,313,376.37 811,911,569.70
of fixed assets
IV. Impairment of construction in
- - - - -
progress
V. Provision for the impairment
117,836,023.23 - - - 117,836,023.23
of intangible assets
VI. Provision for the impairment
73,465,335.00 - - - 73,465,335.00
of goodwill
Total 1,359,943,345.04 153,032,846.42 10,800,261.08 130,690,472.04 1,371,485,458.34
21、Other non-current assets
None
22、Short-term loans
Item Ending Beginning
Pledge loans 150,000,000.00 50,000,000.00
Guaranteed loans - -
Credit loans 16,214,513.55 -
Total 166,214,513.55 50,000,000.00
23、Notes payable
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Chongqing Changan Automobile Company Limited 2016 Semi-annual Report
Item Ending Beginning
Commercial acceptance bill - 53,240,000.00
Bank acceptance bill 22,144,405,905.63 18,609,660,601.34
Total 22,144,405,905.63 18,662,900,601.34
24、Accounts payable
Item Ending Beginning
Accounts payable 15,782,320,390.98 14,973,826,566.55
total 15,782,320,390.98 14,973,826,566.55
25、Advances from customers
Item Ending Beginning
Advances from customers 7,213,729,625.15 7,326,612,631.20
total 7,213,729,625.15 7,326,612,631.20
26、Payroll payable
30 June 2016
Item Beginning Addition Deduction Ending
Short term salary
1,429,426,563.28 3,108,341,833.11 3,570,985,357.18 966,783,039.21
benefits
Defined contribution
65,948,316.50 284,465,531.39 284,581,943.25 65,831,904.64
plans
Early retirement
4,239,000.00 1,479,730.65 - 5,718,730.65
benefits
Total 1,499,613,879.78 3,394,287,095.15 3,855,567,300.43 1,038,333,674.50
Short term salary benefits
30 June 2016
Item Beginning Addition Deduction Ending
Salary, bonus, allowance
1,106,536,422.36 2,290,569,992.88 2,487,731,893.65 909,374,521.59
and subsidy
Employee benefit 161,138,872.11 109,095,545.18 266,737,353.48 3,497,063.81
Social insurance -6,121,466.85 467,135,776.86 445,582,426.09 15,431,883.92
Housing accumulation fund 116,439,265.39 175,569,844.08 285,080,110.20 6,928,999.27
Labor fund and employee 51,433,470.27 65,970,674.11 85,853,573.76 31,550,570.62
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Chongqing Changan Automobile Company Limited 2016 Semi-annual Report
education fund
Total 1,429,426,563.28 3,108,341,833.11 3,570,985,357.18 966,783,039.21
Defined contribution plans as follows:
30 June 2016
Item Beginning Addition Deduction Ending
Basic retirement
58,211,141.01 276,557,313.83 276,667,832.43 58,100,622.41
security
Unemployment
7,737,175.49 7,908,217.56 7,914,110.82 7,731,282.23
insurance
Total 65,948,316.50 284,465,531.39 284,581,943.25 65,831,904.64
27、Taxes payable
Item Ending Beginning
Value-added tax -418,574,311.13 -360,750,164.89
Consumption tax 253,336,519.30 311,777,113.20
Business tax 68,694.30 565,292.82
Corporate income tax 210,995,320.86 365,940,064.81
Individual Income tax 7,997,542.81 5,211,932.14
City maintenance and construction tax 10,623,630.17 16,162,814.08
Education additional expenses 6,942,628.60 10,880,123.71
Others -7,018,541.53 6,962,020.62
total 64,371,483.38 356,749,196.49
28、Interest payable
Item Ending Beginning
Long-term loan interest - -
Corporate bonds interest - -
Short-term loan interest 20,988,000.00 73,458,000.00
total 20,988,000.00 73,458,000.00
29、Dividend payable
Item Ending Beginning
Dividend payable – Hebei Changan Minority
79,742.80 79,742.80
interests
total 79,742.80 79,742.80
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Chongqing Changan Automobile Company Limited 2016 Semi-annual Report
30、Other payables
Item Ending Beginning
Dealer earnest money 55,039,040.83 90,495,974.80
Warranty 10,605,773.71 11,414,931.08
Repair fees 188,025,769.04 144,637,609.14
Sales bonus 12,143,866.00 25,811,691.00
Advertisement fees 215,064,659.20 311,636,628.96
Warehousing and transport fees 334,579,903.06 291,730,945.64
Loans temporarily 116,006,713.92 134,906,227.28
Project funds 613,215,026.77 628,894,264.49
Others 254,563,746.16 123,346,585.66
total 1,799,244,498.69 1,762,874,858.05
31、Contingent liabilities
Item Beginning Addition Deduction Ending
Warranty 1,641,676,220.15 449,951,103.03 393,688,647.99 1,697,938,675.19
total 1,641,676,220.15 449,951,103.03 393,688,647.99 1,697,938,675.19
Note: Warranty is the estimated repair expenses for the sold vehicles within warranty period.
32、Other current liabilities
Item Ending Beginning
Accrued utilities 18,057,355.58 36,290,509.84
Accrued transportation fee 732,965,200.43 647,225,692.02
Accrued labor service fee - 59,077,891.33
Accrued technology royalty 159,815,764.70 136,205,899.23
Accrued commercial discount payable 2,232,487,817.90 2,351,905,956.34
Accrued market development expense 345,132,557.12 259,403,771.61
Accrued extending warranty 344,231,967.52 344,231,967.52
Others 265,587,291.62 96,557,273.26
total 4,098,277,954.87 3,930,898,961.15
33、Bonds payables
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Chongqing Changan Automobile Company Limited 2016 Semi-annual Report
Item Date Beginning Addition Deduction Ending
23
Corporate bonds 1,971,184,679.89 1,958,959.98 0.00 1,973,143,639.87
April2012
With the permission of the China securities regulatory commission regulatory approval [2012] no. 2012, the company to the public in
April 2012, issue corporate bonds, face value of RMB 1,980,000,000.00 coupon for fixed rate 5.30%, according to the annual interest
payments, FuXiRi for every year on April 23, the final payment date is April 23, 2017. After deducting distribution costs RMB
19589600.00, raised RMB 1960410400.00. The bond is provided by the parent company China changan full unconditional
irrevocable joint and several guarantee. During the reporting period, the company has to pay on April 23, 2015 to April 22, 2016,
during the period of interest at a pre-determined (fourth year).
Note: Due to the Changan debt due in April 23, 2017, according to the accounting standards, the company has adjusted the balance of
bonds to the non current liabilities due within one year.
34、Special payables
Item Beginning Addition Deduction Ending
Project 863 2,627,172.95 - 71,500.00 2,555,672.95
Test on key technology of hybrid
2,324,391.07 - 549,051.63 1,775,339.44
electric vehicles
New Vehicle product 6,663,072.47 - 131,338.03 6,531,734.44
Automobile product chain sharing
6,530,459.44 - 30,369.00 6,500,090.44
platform
Gasoline Engine Development 2,033,834.26 2,490,000.00 2,214,283.06 2,309,551.20
Development and industrialization of
the embedded software platform for 263,547.70 - - 263,547.70
automotive electronic controllers
Changan automobile E class Gasoline
engine cylinder block, cylinder head 60,357,617.64 - 6,600.00 60,351,017.64
production line project
Land relocation compensation 55,350,709.40 - - 55,350,709.40
Project 973 161,820.82 - - 161,820.82
Automotive order to delivery system
3,175,689.00 1,150,000.00 1,196,000.00 3,129,689.00
project
Industrialization of patented
8,670,532.59 - 1,726,029.62 6,944,502.97
technologies
Vehicle network intelligent information
terminal middleware key technologies -237,413.99 1,956,600.00 35,291.42 1,683,894.59
research and application
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Chongqing Changan Automobile Company Limited 2016 Semi-annual Report
Development and industrialization of
-28,922,057.58 - 3,743,575.13 -32,665,632.71
C206 pure electric cars
System development of
electromagnetic compatibility of key 3,120,683.25 1,740,000.00 139,282.28 4,721,400.97
accessories on electric cars
Smart production special projects 29,912,733.30 - 747,858.14 29,164,875.16
Others 12,088,987.73 250,000.00 1,286,664.77 11,052,322.96
Total 164,121,780.05 7,586,600.00 11,877,843.08 159,830,536.97
35. Deferred income
30 June, 2016
Item Beginning Addition Deduction Ending
Government grants related to
2,662,177,255.96 1,740,000.00 70,084,245.18 2,593,833,010.78
assets
Others 4,366,152.86 717,948.54 - 5,084,101.40
Total 2,666,543,408.82 2,457,948.54 70,084,245.18 2,598,917,112.18
2015
Item Beginning Addition Deduction Ending
Government grants related to
2,687,392,181.26 112,341,999.62 137,556,924.92 2,662,177,255.96
assets
As at 30 June 2016, details of liabilities related to government grants are as follows:
Recorded to
Relates to
Item Beginning (Restated) Addition non-operating Ending
asset/gain
income
Subsidies for the automobile comprehensive
544,301,916.66 - 14,099,583.34 530,202,333.32 Relates to asset
testing ground project
Funds for Yuzui motor city project 250,081,632.64 - 2,841,836.74 247,239,795.90 Relates to asset
Funds for Beijing Changan project 1,065,749,966.56 - 15,529,556.28 1,050,220,410.28 Relates to asset
Funds for technology innovation 16,150,000.00 - - 16,150,000.00 Relates to asset
Funds for expansion of production capacity of
17,420,000.00 - 290,333.33 17,129,666.67 Relates to asset
auto mold
Funds for H series engine 48,000,000.05 - 2,666,666.67 45,333,333.38 Relates to asset
Industry upgrading project for small displacement
124,585,694.48 - 7,982,916.66 116,602,777.82 Relates to asset
engine and technological transformation project
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Chongqing Changan Automobile Company Limited 2016 Semi-annual Report
for CB type engine production line
Expansion of production capacity project 51,506,332.01 - 2,343,303.42 49,163,028.59 Relates to asset
Subsidies for the construction of Hebei new plant 19,960,000.00 - 1,370,000.00 18,590,000.00 Relates to asset
Funds for the project of Ministry of Industry and
5,000,000.00 - - 5,000,000.00 Relates to asset
Information Technology
Subsidies for engine produce base of Nanjing
9,380,223.70 - 99,436.98 9,280,786.72 Relates to asset
Changan
Light vehicle technical transformation project of
148,800,647.00 - - 148,800,647.00 Relates to asset
Baoding Changan Bus
Subsidies for initial capital of new basebut and
210,200,213.38 - 14,172,992.34 196,027,221.04 Relates to asset
research and development
Premium rebate from Dingzhou local bureau
10,900,818.41 - - 10,900,818.41 Relates to asset
of finance
Hebei M201 bus production plant project 3,527,777.78 - 166,666.66 3,361,111.12 Relates to asset
Producitization of automobile lightweight
15,278,642.84 - 4,379,661.42 10,898,981.42 Relates to asset
components
Development and industrial application of
high-effective and clean turbocharged 11,347,874.15 1,740,000.00 59,370.15 13,028,504.00 Relates to asset
direct injection gasoline engine
Development and industrial application of the
intelligent vehicle terminal with Beidou 4,340,516.34 - 4,071,921.17 268,595.17 Relates to asset
compatible GPS
Restructure project of engine production
100,000,000.00 - - 100,000,000.00 Relates to asset
capacity
Funds for the infrastructure construction of
5,380,000.00 - - 5,380,000.00
Changan Yuzui plant
Coal-fired boiler renovation project 264,999.96 - 10,000.02 254,999.94
Total 2,662,177,255.96 1,740,000.00 70,084,245.18 2,593,833,010.78
As at 31 December 2015, details of liabilities related to government grants are as follows:
Recorded to
Relates to
Item Beginning Addition non-operating Ending
asset/gain
income
Subsidies for the automobile comprehensive
571,317,416.66 - 27,015,500.00 544,301,916.66 Relates to asset
testing ground project
Funds for Yuzui motor city project 255,765,306.12 - 5,683,673.48 250,081,632.64 Relates to asset
Funds for Beijing Changan project 1,096,809,079.12 - 31,059,112.56 1,065,749,966.56 Relates to asset
Funds for technology innovation 16,150,000.00 - - 16,150,000.00 Relates to asset
Funds for expansion of production capacity of
17,420,000.00 - - 17,420,000.00 Relates to asset
auto mold
Funds for H series engine 53,333,333.38 - 5,333,333.33 48,000,000.05 Relates to asset
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Chongqing Changan Automobile Company Limited 2016 Semi-annual Report
Industry upgrading project for small
displacement engine and technological
140,551,527.80 - 15,965,833.32 124,585,694.48 Relates to asset
transformation project for CB type engine
production line
Expansion of production capacity project 56,192,938.84 - 4,686,606.83 51,506,332.01 Relates to asset
Subsidies for the construction of Hebei new plant 22,700,000.00 - 2,740,000.00 19,960,000.00 Relates to asset
Funds for the project of Ministry of Industry and
5,000,000.00 - - 5,000,000.00 Relates to asset
Information Technology
Subsidies for engine produce base of Nanjing
9,545,952.00 - 165,728.30 9,380,223.70 Relates to asset
Changan
Light vehicle technical transformation project of
150,500,647.00 5,000,000.00 6,700,000.00 148,800,647.00 Relates to asset
Baoding Changan Bus
Subsidies for initial capital of new basebut and
238,546,198.06 - 28,345,984.68 210,200,213.38 Relates to asset
research and development
Premium rebate from Dingzhou local bureau of
10,900,818.41 - - 10,900,818.41 Relates to asset
finance
Hebei M201 bus production plant project 3,861,111.11 - 333,333.33 3,527,777.78 Relates to asset
Producitization of automobile lightweight
23,697,013.51 - 8,418,370.67 15,278,642.84 Relates to asset
components
Development and industrial application of
high-effective and clean turbochargeddirect 10,022,200.00 1,750,000.00 424,325.85 11,347,874.15 Relates to asset
injection gasoline engine
Development and industrial application of the
intelligent vehicle terminal with Beidou 4,990,638.87 - 650,122.53 4,340,516.34 Relates to asset
compatible GPS
Development of the key technology of the laser
micro texture on the surface of
88,000.38 (88,000.38) - - Relates to asset
energy-efficient and anti-friction internal
combustion
Engine production restructure program - 100,000,000.00 - 100,000,000.00 Relates to asset
Changan Yuzui infrastructure subsidy - 5,380,000.00 - 5,380,000.00 Relates to asset
Coal boiler retrofit project - 300,000.00 35,000.04 264,999.96 Relates to asset
Total 2,687,392,181.26 112,341,999.62 137,556,924.92 2,662,177,255.96
36、Share capital
Current movement
Beginning Issuance of Transfer of reserve Ending
Stock dividend others Subtotal
shares to common shares
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Chongqing Changan Automobile Company Limited 2016 Semi-annual Report
the sum of
4,662,886,108.00 - - - - - 4,662,886,108.00
shares
37、Capital reserves
Item Beginning Addition Deduction Ending
Share premium 3,125,122,572.65 - - 3,125,122,572.65
Capital reserve transferred arising 44,496,899.00 - - 44,496,899.00
from the old standards
Impairment of equity investment 17,015,985.20 - - 17,015,985.20
Others 40,853,863.98 - - 40,853,863.98
total 3,227,489,320.83 - - 3,227,489,320.83
38、Other comprehensive income
item Report period Same period of last year
1. Profits (loss) generated from available for sale financial
-93,720,000.00 -46,860,000.00
assets
Less: Available for sale financial assets arising from income tax
-14,058,000.00 -7,029,000.00
effect
Net - through other comprehensive income into the profits and
- -
losses of the current
Subtotal -79,662,000.00 -39,831,000.00
2. Translation differences of foreign currency financial
-14,578,769.25 -15,630,463.52
statements
total -94,240,769.25 -55,461,463.52
39、Surplus reserves
Item Beginning Addition Deduction Ending
Statutory surplus 2,331,443,054.00 - - 2,331,443,054.00
total 2,331,443,054.00 - - 2,331,443,054.00
40、Retained earnings
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Chongqing Changan Automobile Company Limited 2016 Semi-annual Report
Item sum
Retained earnings at beginning of year before
23,899,223,263.45
adjustments
Adjust the early undistributed profits total -
Retained earnings at beginning of year after
23,899,223,263.45
adjustments
Add: Net profit belong to parent company 5,490,988,582.32
Less: the statutory surplus reserves -
common stock dividends payable 2,987,918,471.58
Retained earnings at the end 26,402,293,374.19
41、Operating revenue and cost
（1）Operating revenue
item Report period Same period of last year
Operating revenue 35,181,466,125.50 32,500,273,613.80
Other operating revenue 620,296,795.75 552,681,563.69
Operating cost 29,867,338,185.68 27,249,934,200.22
（2）Main business (divisions)
Report period Same period of last year
item
Total revenue Operating cost Total revenue Operating cost
motor industry 35,181,466,125.50 29,458,322,038.34 32,500,273,613.80 26,975,703,171.68
total 35,181,466,125.50 29,458,322,038.34 32,500,273,613.80 26,975,703,171.68
（3）Main business (product)
Report period Same period of last year
item
Total revenue Operating cost Total revenue Operating cost
Sale of goods 35,100,676,715.85 29,372,709,236.16 32,410,068,040.76 26,909,610,981.03
Outsourcing processing 80,789,409.65 85,612,802.18 90,205,573.04 66,092,190.65
total 35,181,466,125.50 29,458,322,038.34 32,500,273,613.80 26,975,703,171.68
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Chongqing Changan Automobile Company Limited 2016 Semi-annual Report
（4）Main business areas (points)
Report period Same period of last year
Item
Total revenue Operating cost Total revenue Operating cost
domestic 34,767,490,150.29 29,049,188,785.60 32,264,164,073.00 26,743,919,822.88
overseas 413,975,975.21 409,133,252.74 236,109,540.80 231,783,348.80
total 35,181,466,125.50 29,458,322,038.34 32,500,273,613.80 26,975,703,171.68
42、Business tax and surcharges
item Report period Same period of last year
Consumption tax 1,350,755,620.86 1,298,240,340.17
Business tax 4,141,984.66 10,061,570.30
City maintenance and construction
147,842,460.48 160,918,999.15
tax
Education additional expenses 71,551,620.75 76,356,274.10
Others 47,303.40 49,687.80
total 1,574,338,990.15 1,545,626,871.52
43、Operating expenses
item Report period Same period of last year
Payroll and welfare 190,252,969.55 134,956,336.92
Promotion fee 591,941,577.63 478,571,789.65
Transportation expenses 1,068,934,334.31 1,042,820,106.95
Travelling expenses 31,297,917.00 30,530,276.77
Package expenses 9,453,307.65 6,575,440.70
Administrative expenses 7,344,193.33 6,658,362.91
Selling service fee 218,651,074.93 525,379,058.48
Sales discount -30,271,721.61 -142,150,000.00
Others 33,104,900.54 51,809,259.51
total 2,120,708,553.33 2,135,150,631.89
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Chongqing Changan Automobile Company Limited 2016 Semi-annual Report
44、General and administrative expenses
item Report period Same period of last year
Payroll and welfare 1,010,220,272.41 816,862,056.63
Technology research expenses 504,713,570.09 495,299,687.29
Administrative expenses 7,641,548.23 4,928,473.32
Depreciation and amortization 360,730,100.38 318,144,953.11
Miscellaneous service charges 3,257,436.77 6,631,643.12
Tax fee 127,086,377.16 127,436,015.13
Traffic expenses 31,792,949.22 25,266,502.50
Travelling expenses 15,166,425.72 10,360,918.55
Entertainment expenses 1,941,999.45 1,363,858.33
Others 149,746,253.80 233,619,156.90
total 2,212,296,933.23 2,039,913,264.88
45、Financial expenses
item Report period Same period of last year
Interest expense 61,349,410.76 55,625,821.57
Less: interest income 169,660,115.51 132,549,376.19
Exchange gain or loss 11,536,776.06 11,530,314.80
Others 12,058,915.69 12,684,006.26
total -107,788,565.12 -75,769,863.16
46、Investment income
item Report period Same period of last year
Long-term equity investment income under cost
- -
method
Long-term equity investment income under equity
5,204,376,269.98 4,910,730,579.44
method
Stock dividend income from available-for-sale
4,615,000.00 52,219,215.31
financial assets
Available-for-sale financial assets investment
- -
income through disposal
total 5,208,991,269.98 4,962,949,794.75
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Chongqing Changan Automobile Company Limited 2016 Semi-annual Report
47、Impairment loss on assets
item Report period Same period of last year
1. Bad debt loss 11,990,121.39 357,069.61
2. Impairment provision of obsolete inventory 128,015,271.64 80,047,561.92
3. Impairment provision of fixed assets 2,227,192.31 47,748,719.67
4. Impairment provision of intangible assets - -
total 142,232,585.34 128,153,351.20
48、Non-operating income
item Report period Same period of last year
Non-current assets disposal gains in total 4,889,217.28 609,783.28
Gain on the disposal of fixed assets 4,889,217.28 609,783.28
Donations - -
Government grants 496,486,470.68 214,704,329.34
others 37,047,573.92 37,995,685.18
Total 538,423,261.88 253,309,797.80
49、Non-operating expenses
item Report period Same period of last year
Non-current assets disposal has lost 6,056,945.55 2,420,217.68
Loss on the disposal of fixed assets 6,056,945.55 2,420,217.68
Donation 199,000.00 200,000.00
Others 27,496,725.41 14,384,798.43
Total 33,752,670.96 17,005,016.11
50、Income tax expense
item Report period Same period of last year
Current income tax expense 198,825,308.25 379,069,503.23
Deferred income tax adjustment 30,721,190.91 -207,604,445.04
total 229,546,499.16 171,465,058.19
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Chongqing Changan Automobile Company Limited 2016 Semi-annual Report
51、Notes to cash flow statement
（1）The major cash received relating to other operating activities
item Amount
Interest income 149,697,905.21
Government grants related to operating activities 510,956,652.28
Others 34,291,978.47
Total 694,946,535.96
（2）The major cash paid relating to other operating activities
item Amount
Selling expense 1,930,455,583.78
Administrative expense 841,346,560.44
Others 314,678,478.65
Total 3,086,480,622.87
（3）The major cash received relating to other investing activities
item Amount
Government grants 500,000.00
Total 500,000.00
（4）The major cash paid relating to other investing activities
item Amount
Counter Fee -
others 7,400.00
Total 7,400.00
(5) The major cash received relating to other financing activities
Item Amount
Withdraw for deposit of bill 61,286,090.42
Others -
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Chongqing Changan Automobile Company Limited 2016 Semi-annual Report
Total 61,286,090.42
(6) The major cash paid relating to other financing activities:
Item Amount
Payment for deposit of bill 20,263,443.15
Others 105,165.28
Total 20,368,608.43
52、Supplementary information of cash flow statement
（1）Supplementary information of cash flow statement
Unit: Yuan
Supplementary information Current Amount Prior-period Amount
1．Cash flow relating to operating activities calculated by
-- --
adjusting the net profit
Net profit 5,476,751,600.38 5,057,736,239.19
Add: provision for assets impairment 142,232,585.34 128,153,351.20
Depreciation of fixed assets, oil and gas assets, productive
1,232,153,547.87 885,034,987.03
biological assets
Amortization of intangible assets 246,288,446.15 220,443,346.43
Amortization of long-term deferred expense 168,640.00 233,276.20
Disposal loss/(income) on fixed assets, intangible assets
894,064.49 -66,568,668.28
and others long-term assets(with “-” for gains)
Loss on discarding of fixed assets(with “-” for gains) - 1,197.74
Loss from fair value changes (with “-” for gains) - -
Financial expense(with “-” for gains) -107,788,565.12 -75,769,863.16
Investment loss(with “-” for gains) -5,208,991,269.98 -4,962,949,794.75
Decrease in deferred tax assets(with “-” for gains) 72,097,508.39 -173,197,419.13
Decrease in inventory(with “-” for gains) -2,082,567,539.51 -947,251,727.57
Decrease in operating receivables(with “-” for gains) 1,869,665,425.58 -38,489,961.80
Increase in operating payables(with “-” for gains) 2,959,611,634.78 6,471,528,980.04
Others 20,271,149.70 -62,754,965.11
Net cash flows from operating activities 4,620,787,228.07 6,436,148,978.03
2. Investment and financing activities involving no cash
-- --
incomings / outgoings
3. Movement of cash and cash equivalents -- --
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Chongqing Changan Automobile Company Limited 2016 Semi-annual Report
Ending balance of cash equivalents 21,090,148,167.23 13,344,907,253.77
Less: beginning balance of cash equivalents 17,725,921,341.22 9,362,853,917.71
Net increase in cash and cash equivalents 3,364,226,826.01 3,982,053,336.06
（2）Cash and cash equivalents
Unit: Yuan
Item Ending balance Beginning balance
I. Cash 21,090,148,167.23 17,725,921,341.22
Including: Cash on hand 61,044.00 43,967.74
Bank deposits that can be readily used 21,090,087,123.23 17,725,877,373.48
Other monetary assets that can be readily used - -
II. ending balance of cash and cash equivalents 21,090,148,167.23 17,725,921,341.22
VIII、The change of consolidation scope
1、Business combination not under the Same Control
□Applicable √not Applicable
2、Combination under the same control
□Applicable √not Applicable
3、Counter purchase
□Applicable √not Applicable
4、Disposing subsidiary
Whether there is a single disposal of the subsidiary company investment that is the loss of control of the situation
□Applicable √not Applicable
Whether there is a situation of the loss of control over the period of the investment and the loss of control of the subsidiary company
through multiple transactions
□Applicable √not Applicable
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Chongqing Changan Automobile Company Limited 2016 Semi-annual Report
5、Change of consolidation scope due to other reasons
(1) Newly established subsidiary companies during the reporting period
Proportion of voting
Registered Type of Total shareholding
Name rights enjoyed by Note
Address business ratio of the group
the group
Shenzhen Changan New Energy
Shenzhen Car sale 100% 100% Note1
Automobile Service Co., Ltd
Note1: Shenzhen Changan New Energy Automobile Service Co., Ltd registered in Shenzhen, China, as a wholly owned subsidiary of
the group is included in the consolidated scope of the group for this year.
(2) Subsidiary clearing during the reporting period
Subsidiary clearing during the reporting period and its relevant circumstances：None
IX、 Stake in other entities
1. Rights in subsidaries
The subsidiaries of the Company are as follows：
Company name Main Registered place Nature of Registered Total proportion of
operating business capital shareholders (%)
place (ten direct indirect
thousand)
I. The subsidiary formed by establish or investment
Hebei Changan Automobile Co., Ltd. (note Manufact -
Dingzhou Dingzhou 46,469 94.22
1) uring
Chongqing Changan International -
Chongqing Chongqing sales 1,376 95.00
Automobile Sales Co., Ltd.
Chongqing Changan Automobile Sales Co., -
Chongqing Chongqing sales 4,850 100.00
Ltd.
Chongqing Changan Special Automobile -
Chongqing Chongqing sales 500 50.00
Sales Co., Ltd (note 2)
Chongqing Changan Automobile Supporting -
Chongqing Chongqing sales 3,000 100.00
Service Co., Ltd.
Chongqing Changan New Energy -
Chongqing Chongqing R&D 2,900 65.00
Automobile Co. Ltd.
Chongqing Changan Europe Design -
Turin, Italy Turin, Italy R&D EUR1,460 100.00
Academy Co., Ltd.
Birmingham, -
Changan United Kingdom R&D Center Co., Birmingham,
United R&D GBP1,903 100.00
Ltd. United Kingdom
Kingdom
Beijing Changan R&D Center Co., Ltd. Beijing Beijing R&D 100 100.00 -
Harbin Changan R&D Center Co., Ltd. Habin Habin R&D 100 100.00 -
Shanghai Changan R&D Center Co., Ltd. Shanghai Shanghai R&D 100 100.00 -
Changan Japan Designing Center Co.,Ltd. Yokohama, Yokohama, R&D JPY2,000 100.00 -
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Chongqing Changan Automobile Company Limited 2016 Semi-annual Report
Japan Japan
Changan United States R&D Center Co., Troy, United Troy, United -
R&D USD20 100.00
Ltd. states states
Moscow, -
Changan Automobile Russia Co., Ltd. Moscow, Russia Sales USD20 100.00
Russia
St. Paul, -
Changan Brazil Holdings Limited St. Paul, Brazil Sales BRL100 100.00
Brazil
Shenzhen Changan New Energy Automobile
Shenzhen Shenzhen Sales 5000 100.00
Service Co., Ltd
II. The subsidiary formed by business combination not under common control
Nanjing Changan Automobile Co., Manufact -
Nanjing Nanjing 60,181 84.73
Ltd.(note1) uring
III. The subsidiary formed by business combination under common control
Chongqing Changan Automobile sales -
China China Sales 850 100.00
subsidiaries
Manufact -
Hebei Baoding Changan Bus Co., Ltd. Dingzhou Dingzhou 3,000 100.00
uring
Manufact -
Hefei Changhe Automobile Co.,Ltd. Hefei Hefei 77,500 100.00
uring
Note 1: the Company owns 93.79% and 95.70% of voting shares of Nanjing Changan Automobile Co., Ltd. And Hebei Changan
Automobile Co., Ltd. respectively, the difference between proportion of voting shares and proportion of shares held is due
to the voting right consigned from minority shareholders.
Note 2: The remaining shareholders of Chongqing Changan Special Automobile Co., Ltd. made an agreement with the Company that
the remaining shareholders are to vote in accordance with the Company. The main financial and operating policies have
been controlled by the Company, so it is included in the scope of consolidated financial statements.
As at June 30,2016, the Group has no subsidiaries with important minority interests.
2.Transctions result in change of holdingshare proportion but no effect in control of subsidiaries
□Applicable √not Applicable
3. Stakes in joint ventures and associates
Company name Main Registered Nature of business Registered Total Accoun
operating place capital proportion of ting
place (0,000) shareholders treatme
(%) nt
direct inder
ect
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Chongqing Changan Automobile Company Limited 2016 Semi-annual Report
I. Joint ventures
Chongqing Changan Suzuki Manufacture and sale of
Chongqing Chongqing USD19,000 50.00 - Equity
Automobile Co., Ltd. automobiles, and components
Manufacture and sale of
Jiangling Holding Co., Ltd. Nanjing Nanjing 200,000 50.00 - Equity
automobiles, and components
Manufacture and sale of
Changan Ford Automobile Co., Ltd. Chongqing Chongqing USD24,100 50.00 - Equity
automobiles, and components
Changan Mazda Automobile Co., Manufacture and sale of
Nanjing Nanjing USD11,097 50.00 - Equity
Ltd. automobiles, and components
Changan Ford Mazda Engine Co., Manufacture and sale of
Nanjing Nanjing USD20,996 50.00 - Equity
Ltd. automobiles, and components
Changan PSA Automobiles Co., Manufacture and sale of
Shenzhen Shenzhen 400,000 50.00 - Equity
Ltd. (Note) automobiles, and components
II. Associates
Chongqing Xiyi Automobile Develop, manufactory, sale of
Chongqing Chongqing 1,900 40.00 - Equity
Linkage Rod Co., Ltd. linkage rod
Develop, product and sale of
Chongqing Changan Kuayue
Chongqing Chongqing automobile and components; 6,533 34.30 - Equity
Automobile Co., Ltd.
import and export goods.
Sale of Changan Kuayue’ s
Chongqing Changan Kuayue automobile and agricultural cars
Chongqing Chongqing 300 34.30 - Equity
Automobile Sales Co., Ltd. and components. Technical
advisory services for automobile
Beijing Fang’an Taxi Co., Ltd. Beijing Beijing Regional taxi operation 1,420 42.25 - Equity
For the car loan business; provide
car dealers to buy vehicles loans
and operating equipment loans ,
Chongqing Auto Finance Co., ltd. Chongqing Chongqing Including the exhibition hall 250,000 35.00 - Equity
construction loans and spare parts
loans and maintenance equipment
loans, etc.
X、Risks associated with financial instruments
1. Classification of financial instruments
The book values of different classes of financial instruments are as follows:
Financial assets
Loans and accounts Available-for-sale financial
June 30,2016 Total
receivable assets
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Chongqing Changan Automobile Company Limited 2016 Semi-annual Report
Cash 21,358,313,852.95 - 21,358,313,852.95
Notes receivable 19,833,239,225.55 - 19,833,239,225.55
Accounts receivable 1,479,933,520.99 - 1,479,933,520.99
Other receivables 1,237,474,240.98 - 1,237,474,240.98
Available-for-sale financial assets - 437,091,274.00 437,091,274.00
Interest receivable 16,881,866.68 - 16,881,866.68
Total 43,925,842,707.15 437,091,274.00 44,362,933,981.15
Financial liabilities
June 30,2016 2015
Short-term loans 166,214,513.55 50,000,000.00
Notes payable 22,144,405,905.63 18,662,900,601.34
Accounts payable 15,782,320,390.98 14,973,826,566.55
Interest payable 20,988,000.00 73,458,000.00
Dividend payable 79,742.80 79,742.80
Other payables 1,799,244,498.69 1,762,874,858.05
Bonds payable - 1,975,102,599.85
Non-current liabilities due within one year 1,977,061,559.83 -
Total 41,890,314,611.48 37,498,242,368.59
Note: Due to the Changan debt due in April 23, 2017, according to the accounting standards, the company has adjusted the balance of
bonds to the non current liabilities due within one year.
2、Transfer of financial assets
The transferred financial assets that entirely derecognized but continuing involved
As of June 30 2016, the Group has endorsed bank acceptance bill with a carrying amount of
RMB3,978,644,010.00 to suppliers to settle the accounts payable. The maturities of the notes are between 1 to 6
months, according to the relevant provisions of the "law of negotiable instruments", if the banks refuse the
payment, the holder has the right of recourse to the Group (the "continuing involvement"). The Group holds the
view that almost all the risks and rewards concerned have been transferred; therefore, the book value of the
accounts payable should be derecognized. The maximum loss and the undiscounted cash flow of the continuing
involvement and repurchase is equal to its book value, the Group regards the fair value of the continuing
involvement is not significant.
In first half of 2016, the Group didn’t recoganize profit or loss on the transferring date. No revenue or expense
should be recogazied in accordance with the continuing involvement in the current period. The indorsement
occurred flatly in this period.
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Chongqing Changan Automobile Company Limited 2016 Semi-annual Report
3、Risks of financial instruments
The Group’s principal financial instruments, except for derivatives, include bank loans, bonds payable, cash, etc.
The main purpose of these financial instruments is to raise finance for the Group’s operations. The Group has
various other financial assets and liabilities such as accounts receivable and accounts payable, which arise directly
from its operations.
The main risks arising from the Group’s financial instruments are credit risk, liquidity risk and market risk. The
Group’s risk management policies are summarized below:
Credit risk
The Group trades only with recognized, creditworthy third parties. It is the Group’s policy that all customers who
wish to trade on credit terms are subject to credit verification procedures. In addition, receivable balances are
monitored on an ongoing basis with the result that the Group’s exposure to bad debts is not significant. For
transactions that do not occur in the country of the relevant operating unit, the Group does not offer credit terms
without the approval of the special department of credit control.
With respect to credit risk arising from the other financial assets of the Group, which comprise cash and cash
equivalents, available-for-sale financial assets, other receivables, dividend receivables and certain derivatives
financial instruments, the Group’s exposure to credit risk arising from default of the counterparty, with a
maximum exposure equal to the carrying amount of these instruments, listed as book value of financial assets in
consolidated financial statements. In 2014, there was no credit risk arising from financial guarantee.
No gage is required since the Group trades only with recognized, creditworthy third parties. Credit risks are
managed by clients and industries collectively. As at 30 June 2016, among the Group’s collections with specific
credit risk, 34.68% of accounts receivables of the Group are due from top five clients respectively.
An analysis of financial assets of individual impairment:
June 30,2016
Total Book value Impairment provision
Accounts
1,479,933,520.99 1,556,671,618.31 76,738,097.32
receivable
Other receivables 1,237,474,240.98 1,241,846,556.12 4,372,315.14
Notes receivable 19,833,239,225.55 19,833,239,225.55 -
Available-for-sale -
437,091,274.00 437,091,274.00
financial assets
Interest receivable 16,881,866.68 16,881,866.68 -
Although the existence of the company in Part of the accounts receivable impairment due to credit risk, but should
be single recognized impairment losses of accounts receivable balance of accounts receivable the ending balance
of proportion is very small, and the company has been confirmed according to the situation of credit risk the
possibility of credit risk loss. For no signs that need individual recognized impairment losses of accounts
receivable, the company according to the history of the credit risk of loss occur aging analysis of the proportion of
reasonably estimate the possible loss of credit risk, and the provision for bad debt provision in the balance sheet
date. Therefore, the company does not exist because of the occurrence of credit risk and leads to a significant loss.
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Chongqing Changan Automobile Company Limited 2016 Semi-annual Report
Liquidity risk
The Group adopts cycle liquidity planning instrument to manage capital shortage risks. The instrument takes into
consideration the maturity date of financial instruments plus estimated cash flow from the Group’s operations.
The Group’s objective is to maintain a balance between continuity of funding and flexibility and sufficient cash to
support operating capital through financing functions by the use of bank loans, debentures, etc.
Market risk
Interest rate risk
The Group’s revenue and operating cash flows are seldomly influenced by the interest fluctuation. As at June 30,
2016, the Group’s loans are bearing fixed interest rate and the Group is not hedging the risk currently.
Foreign currency risk
The Group’s exposures to fluctuation in foreign currency exchange rate mainly arise from operating activities
where transactions are settled in currencies other than the units' functional currency and net investment to offshore
subsidiary.
In 2016, the Group has less transactional currency exposures of its total revenue that is valued in currencies other
than the units' functional currency. Since most of the Group’s businesses are opertated in China mainland, the
estimated influence of fluctuation of foreign currency is insignificant; therefore, the Group hasn’t carried out large
amount of hedging to reduce the risk.
Equity instruments investment price risk
The Group is exposed to equity price risk arising from individual equity investments classified as
available-for-sale investments (Note VII 9) as at June 30, 2016. The Group’s listed investments are listed on the
Shanghai stock exchanges and valued at quoted market prices at the end of the reporting period. The following
table demonstrates the sensitivity to every 5% change ( based on the carrying amount as at the end of reporting
period) in the Group’s net profit and fair value of the equity investments, with all other variables held constant,
based on their carrying amounts at the end of the reporting period.
Carrying amount of equity Increase/
Change in fair value
investments (decrease) in net profit
June 30, 2016
Shanghai- Available for sale 257,730,000.00 5% 12,886,500.00
Shanghai- Available for sale 257,730,000.00 (5%) (12,886,500.00)
2015
Shanghai- Available for sale 351,450,000.00 5% 17,572,500.00
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Chongqing Changan Automobile Company Limited 2016 Semi-annual Report
Shanghai- Available-for-sale 351,450,000.00 (5%) (17,572,500.00)
4、Capital management
The main goal of the Group’s capital management is to ensure that the ability of continuous operation, and
maintain a healthy capital ratios in order to support business development, and to maximize shareholder value.
The Group manages the capital structure and adjusts it with the change of economy trend and the risk feature of
the assets. To maintain or adjust the capital structure, the Group can rectify dividend distribution, return capital to
shareholders or issue new shares. The Group is not subject to external mandatory capital requirements constraints.
The goal, principle and procedure of capital management stay the same in First half of 2016.
In June 30, 2016 and December 31, 2015 ,The Group’s leverage ratio on the balance sheet date is as fo
llows:
June 30, 2016 December 31, 2015
Leverage ratio 61.70% 61.78%
XI、Disclosure of fair value
1、Assets and liabilities measured at fair value
June 30, 2016
Input measured at fair value
Quoted price in Important and Important but
active market observable input unobservable input Total
(The first level) (The second level） (The second level)
Available-for-sale
financial assets- equtiy 257,730,000.00 - - 257,730,000.00
instruments
December 31, 2015
Input measured at fair value
Quoted price in Important and observable Important but
active market input unobservable input Total
(The first level) (The second level) (The second level)
Available-for-sale
financial assets- equtiy 351,450,000.00 - - 351,450,000.00
instruments
2、Assets and liabilities disclosed in fair value
June 30, 2016
Input measured at fair value
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Chongqing Changan Automobile Company Limited 2016 Semi-annual Report
Quoted market price in Important and Important but
active market observable input unobservable input Total
(The first level) (The second level） (The second level)
Non current liabilitiesdue
2,021,580,000.00 - -
within one year 2,021,580,000.00
Note: Due to the Changan debt due in April 23, 2017, according to the accounting standards, the company has adjusted the balance of
bonds to the non current liabilitiesdue within one year.
December 31, 2015
Input measured at fair value
Quoted market price in Quoted price in Quoted price in active Quoted price in active
active market active market market market
(The first level) (The first level) (The first level) (The first level)
Bonds payable 2,039,400,000.00 - - 2,039,400,000.00
For the In June 30, 2016, there is neither transference of financial assets and liabilities between first and second
level, nor transference to or from third level.
Fair value of financial instruments
Following are book value and fair value of financial instruments of the group except for equity instruments whose
fair value is similar with book value and those neither have quoted market price in active market nor be reliably
measured.
Book value Fair value
June 30, 2016 2015 June 30, 2016 2015
Finacial assets - - - -
Financial assets available
for sale- equtiy 257,730,000.00 351,450,000.00 257,730,000.00 351,450,000.00
instruments
Finacial liabilities - - - -
Bonds payable - 1,975,102,599.85 - 2,039,400,000.00
Non current liabilitiesdue
1,977,061,559.83 - 2,021,580,000.00 -
within one year
Note: Due to the Changan debt due in April 23, 2017, according to the accounting standards, the company has adjusted the balance of
bonds to the non current liabilities due within one year.
Management has assessed and concluded that the fair value of the accounts, including cash, notes receivable,
accounts receivable, other receivables, short-term loans, intrest payable, dividend payables, other payables, notes
payable, accounts payable and so on, equal to book value because of their short term to overdue.
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Chongqing Changan Automobile Company Limited 2016 Semi-annual Report
Financial assets and financial liabilities are measured at the amount that an asset could be exchanged for or by
which a liability could be incurred or settled by knowledged, willing parties in a current arm’s-length transaction,
other than liquidation or unwilling sales. Methods and hypothesis followed are used for determining fair value.
Bonds payable are carried at armotized cost and thoses fair value are determined by the settlement price on 30
June 2016 and 31 December 2015, which are traded in open and active market.
XII、Related parties and related party transactions
1. Parent company of the Company
Related Company Legal Proportion of Final Organizat
Place of Proportion of
Parent parties’ type represent Nature of the Registered voting rights controlling ion Code
registrati shares in the
company relationsh ative business capital in the party
on Company(%)
ip company(%)
China Manufacture and
controllin China South
Changan sale of
g Liability Xu 4,582,373,7 Industries 7109339
Automobile Beijing automobiles, 39.11% 39.11%
sharehold limited Liuping 00.00 Group 4-8
Group engine, and
er corporation
Co ,Ltd. components
Introduction to Parent company of the Company
Controlling shareholder: China changan automobile group co., Ltd.
Legal representative: Xu Liuping
Date of establishment: December 26, 2005
Organization code: 71093394-8
Registered capital: RMB 4582373700
Main business and products: design, development, manufacturing and marketing of automobiles, motorcycles, automobile
motorcycle engines, automobile motorcycle parts and components; Sales of optical products, electronic and optoelectronic products,
night vision equipments, information and communications equipment; technology development, technology transfer, technical
consulting, technical training, technical services related to the above mentioned business; Import and export business; Asset
acquisitions, recapitalization.
2. Subsidiaries
See subsidiaries in (8) Equity in other entities
3. Other related parties
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Chongqing Changan Automobile Company Limited 2016 Semi-annual Report
Other Related parties Relationship
Changan Ford Automobile Co.,Ltd. joint venture
Changan Mazda Automobile Co.,Ltd. joint venture
Changan Ford Mazda Engine Co., Ltd. joint venture
Chongqing Changan Suzuki Automobile Co., Ltd. joint venture
Jiangling Holding Co., Ltd. joint venture
Jiangling Holding Landwind Plant joint venture
Changan PSA Automobiles Co., Ltd. joint venture
Chongqing Changan Kuayue Automobile Co., Ltd. Associated enterprise
Chongqing Xiyi Automobile Linkage Rod Co., Ltd. Associated enterprise
Changan Industries Group Co. Ltd. subordinate company of South Group
Chongqing Changan Real Estate Development Co., Ltd. subordinate company of Changan Industries
Chongqing Changan Construction Engineering Co., Ltd. subordinate company of Changan Industries
Sichuan Hongguang Machinery and Electrics Co., Ltd. subordinate company of Changan Industries
Chongqing Changan Property Management Co., Ltd. subordinate company of Changan Industries
Chongqing Changan Visteon Engine Control Systems Co., Ltd. subordinate company of Changan Industries
China Changan Automobile Co., Ltd. Parent company
China Changan Automobile Co., Ltd. –Chongqing Qingshan Transmission
Branch Branch of China Changan
China Changan Automobile Co., Ltd. – Chengdu Jian'an Automobile Bridge
Branch Branch of China Changan
China Changan Automobile Co., Ltd. – Shichuan Jian'an Automobile Bridge
Branch Branch of China Changan
South Air International Co.,Ltd. subordinate company of China Changan
Sichuan Ningjiang Shanchuan Machinery Co, Ltd. subordinate company of China Changan
Sichuan Ningjiang Shanchuan Machinery Co, Ltd.-Longchang Shock Absorber
Branch subordinate company of China Changan
Chengdu Huachuan Electric Equipment Co., Ltd. subordinate company of China Changan
Chongqing Changfeng Jiquan Machinery Co., Ltd. subordinate company of China Changan
Chongqing Automobile Air-Conditioning Co., Ltd. subordinate company of China Changan
Csgc Trw Chassis Systems Co.,Ltd. subordinate company of China Changan
Chongqing Changan Min Sheng Logistics Co., Ltd. subordinate company of China Changan
Chongqing Wanyou Auto Sales and Service Co., Ltd. subordinate company of China Changan
Suining Wanyou Auto Sales and Service Co., Ltd. subordinate company of China Changan
Chongqing Wanyou Longrui Auto Sales and Service Co., Ltd. subordinate company of China Changan
Chongqing Wanyou Longxing Auto Sales and Service Co., Ltd. subordinate company of China Changan
Guangxi Wanyou Auto Sales and Service Co., Ltd. subordinate company of China Changan
Nanning Wanyou Auto Sales and Service Co., Ltd. subordinate company of China Changan
Chengdu Wanyou Xiangyu Auto Sales and Service Co., Ltd. subordinate company of China Changan
Chengdu Wanyou Trading Co., Ltd. subordinate company of China Changan
Hafei Motor Co., Ltd. subordinate company of China Changan
Chongqing Anfu Automobile Marketing Co., Ltd. subordinate company of China Changan
China Changan Automobile Group Tianjin Sales Co., Ltd. subordinate company of China Changan
114
Chongqing Changan Automobile Company Limited 2016 Semi-annual Report
Chengdu Ningjiang Zhaohe Automobile Components Co., Ltd. subordinate company of China Changan
Harbin Dongan Auto Engine Co., Ltd. subordinate company of China Changan
Harbin Dongan Automotive Engine Manufacturing Co., Ltd. subordinate company of China Changan
United Prosperity Investment Co., Ltd subordinate company of China Changan
United Prosperity Investment Co., Ltd (Shenzhen) subordinate company of China Changan
Wanyou Automobile Investment Co., Ltd. subordinate company of China Changan
China South Industries Group Corporation The ultimate holding company
Hubei Xiaogan Huazhong Automobile Light Co., Ltd. subordinate company of South Group
Chongqing Changrong Machinery Co., Ltd. subordinate company of South Group
Chengdu Lingchuan Special Industry Co., Ltd. subordinate company of South Group
Chengdu Lingchuan Vehicle Oil Tank Co., Ltd. subordinate company of South Group
Chongqing Changfeng Jiquan Machinery Co., Ltd. subordinate company of South Group
Yunnan Xiyi Industries Co., Ltd. subordinate company of South Group
Chongqing Shangfang Automobile Fittings Co., Ltd. subordinate company of South Group
Chongqing Dajiang Xinda Vehicles Shares Co., Ltd. subordinate company of South Group
Chongqing Dajiang Yuqiang Plastic Co., Ltd. subordinate company of South Group
Chongqing Jianshe Automobile Air-conditioner Co., Ltd. subordinate company of South Group
China South Industries Group Finance Co., Ltd. subordinate company of South Group
Southwest Ordnance Industry Corporation subordinate company of South Group
Chongqing Wanyou Economic Development Co., Ltd. subordinate company of South Group
Chongqing Wanbing Supplies Ltd. subordinate company of South Group
Chongqing Wanyou Construction Co., Ltd. subordinate company of South Group
Chengdu Wanyou Economic Technological Development Co., Ltd. subordinate company of South Group
Chengdu Wanyou Xiangyu Auto Sales and Service Co., Ltd. subordinate company of South Group
Chengdu Wanyou Filter Co., Ltd. subordinate company of South Group
Yunnan Wanyou Auto Sales and Service Co., Ltd. subordinate company of South Group
Guizhou Wanyou Auto Sales and Service Co., Ltd. subordinate company of South Group
Chongqing Yihong Engineering Plastic Products Co., Ltd. subordinate company of South Group
Chengdu Ningxing Automobile Spring Co., Ltd subordinate company of South Group
Beijing Beiji Mechanical and Electrical Industry Co., Ltd. subordinate company of South Group
Chengdu Jialing Huaxi Optical & Precision Machinery Co., Ltd. subordinate company of South Group
Chongqing Qingshan Transmission Sales Co., Ltd. subordinate company of South Group
Chongqing Dajiang Jiexing Forging Co., Ltd. subordinate company of South Group
Chongqing Jialing Yimin Special Equipment Co., Ltd. subordinate company of South Group
CDGM Tanaka Environmental Catalyst Co,. Ltd subordinate company of South Group
Yunnan Xiangyu Auto Sales and Service Co., Ltd. subordinate company of South Group
Chongqing Fuji Supply Chain Management Co., Ltd subordinate company of South Group
4、Related-party transaction
（1）Goods purchased and services received
Unit:Yuan
Related parties Nature of the Current amount Prior-period amount
115
Chongqing Changan Automobile Company Limited 2016 Semi-annual Report
transaction Proportion of Proportion
similar amount of similar
transactions transactions
amount (%) (%)
Purchase of spare
117,323,942.40 0.40% 303,084,953.76 1.12%
Changan Ford Automobile Co.,Ltd. parts
Chongqing Changan Suzuki Purchase of spare
68,168,188.41 0.23% 259,367,354.92 0.96%
Automobile Co., Ltd. parts
Chongqing Xiyi Automobile Linkage Purchase of spare
3,463,767.52 0.01% 7,133,874.18 0.03%
Rod Co., Ltd. parts
Changan Industries Group Co. Ltd. Purchase of spare
parts and accept 28,470,053.55 0.10% 41,383,386.67 0.15%
service
Chongqing Changan Minsheng Transportation fee
690,620,217.73 2.34% 451,684,872.15 1.67%
Logistics Co., Ltd
Sichuan Hongguang Machinery and Purchase of spare
7,014,208.03 0.02% 20,733,915.66 0.08%
Electrics Co., Ltd. parts
Chongqing Changan Property Accept service
2,836,763.43 0.01% 1,538,177.96 0.01%
Management Co., Ltd.
Chongqing Changan Visteon Engine Purchase of spare
1,107,469.69 0.00% 1,034,276.01 0.00%
Control Systems Co., Ltd. parts
China Changan Automobile Co., Ltd. Purchase of spare
–Chongqing Qingshan Transmission parts 1,000,109,229.39 3.39% 1,042,335,738.99 3.86%
Branch
China Changan Automobile Co., Ltd. Purchase of spare
–Shichuan Jian'an Automobile Bridge parts 454,703,484.10 1.54% 464,135,687.30 1.72%
Branch
China Changan Automobile Co., Ltd. Purchase of spare
–Chengdu Jian'an Automobile Bridge parts 391,277.26 0.00% 3,211,748.89 0.01%
Branch
Purchase of spare
178,467,057.87 0.61% 167,629,762.31 0.62%
South Air International Co.,Ltd. parts
Sichuan Ningjiang Shanchuan Purchase of spare
67,488,935.91 0.23% 31,700,860.31 0.12%
Machinery Co, Ltd. parts
Sichuan Ningjiang Shanchuan Purchase of spare
Machinery Co, Ltd.-Longchang Shock parts 53,388,729.51 0.18% 60,440,245.73 0.22%
Absorber Branch
Chengdu Huachuan Electric Purchase of spare
175,138,389.64 0.59% 204,275,941.90 0.76%
Equipment Co., Ltd. parts
Chongqing Changfeng Jiquan Purchase of spare
17,627,655.88 0.06% 21,849,525.13 0.08%
Machinery Co., Ltd. parts
Purchase of spare
397,967,255.99 1.35% 294,468,473.16 1.09%
Csgc Trw Chassis Systems Co.,Ltd. parts
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Chongqing Changan Automobile Company Limited 2016 Semi-annual Report
Related parties Nature of the Current amount Prior-period amount
transaction Proportion of Proportion
similar amount of similar
transactions transactions
amount (%) (%)
Receive the
- 0.00% 79,398,624.02 0.29%
Hafei Motor Co., Ltd. processing service
Chengdu Ningjiang Zhaohe Purchase of spare
8,991,534.00 0.03% 23,400,749.28 0.09%
Automobile Components Co., Ltd. parts
Purchase of spare
566,765,028.47 1.92% 134,402,939.50 0.50%
Harbin Dongan Auto Engine Co., Ltd. parts
Harbin Dongan Automotive Engine Purchase of spare
1,185,619,574.94 4.02% 883,389,037.60 3.27%
Manufacturing Co., Ltd. parts
Hubei Xiaogan Huazhong Automobile Purchase of spare
57,763,751.03 0.20% 54,499,265.82 0.20%
Light Co., Ltd. parts
Chongqing Changrong Machinery Purchase of spare
25,967,737.34 0.09% 35,193,381.77 0.13%
Co., Ltd. parts
Chengdu Lingchuan Special Industry Purchase of spare
31,560,358.37 0.11% 19,089,090.16 0.07%
Co., Ltd. parts
Chengdu Lingchuan Vehicle Oil Tank Purchase of spare
42,039,692.66 0.14% 64,738,292.20 0.24%
Co., Ltd. parts
Purchase of spare
46,577,677.83 0.16% 48,270,967.93 0.18%
Yunnan Xiyi Industries Co., Ltd. parts
Chongqing Shangfang Automobile Purchase of spare
48,351,625.04 0.16% 45,600,807.00 0.17%
Fittings Co., Ltd. parts
Chongqing Dajiang Xinda Vehicles Purchase of spare
24,373,775.79 0.08% 26,864,629.25 0.10%
Shares Co., Ltd. parts
Chongqing Dajiang Yuqiang Plastic Purchase of spare
24,410.50 0.00% 54,670.06 0.00%
Co., Ltd. parts
Chongqing Jianshe Automobile Purchase of spare
108,836,966.55 0.37% 98,384,782.46 0.36%
Air-conditioner Co., Ltd. parts
Purchase of spare
Chengdu Wanyou Economic
38,692,349.00 0.13% 30,583,503.97 0.11%
parts
Technological Development Co., Ltd.
Purchase of spare
85,015,635.06 0.29% 70,436,900.24 0.26%
parts
Chengdu Wanyou Filter Co., Ltd.
Chongqing Yihong Engineering Purchase of spare
22,922,405.91 0.08% 17,842,988.46 0.07%
Plastic Products Co., Ltd. parts
Chengdu Ningxing Automobile Purchase of spare
4,419,997.62 0.02% 7,340,066.25 0.03%
Spring Co., Ltd parts
Chengdu Jialing Huaxi Optical & Purchase of spare
1,278,053.57 0.00% 1,902,393.86 0.01%
Precision Machinery Co., Ltd. parts
Chongqing Qingshan Transmission Purchase of spare 3,976,293.99 0.01% 3,254,538.09 0.01%
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Chongqing Changan Automobile Company Limited 2016 Semi-annual Report
Related parties Nature of the Current amount Prior-period amount
transaction Proportion of Proportion
similar amount of similar
transactions transactions
amount (%) (%)
Sales Co., Ltd. parts
Chongqing Dajiang Jiexing Forging Purchase of spare
1,379,980.98 0.00% 26,422,867.38 0.10%
Co., Ltd. parts
Beijing Beiji Mechanical&Electric Purchase of spare
44,779.84 0.00% - 0.00%
Induustry Co., Ltd parts
Chongqing Jialing Yimin Special Purchase of spare
36,951.21 0.00% 324,678.78 0.00%
Equipment Co., Ltd. parts
CDGM Tanaka Environmental Purchase of spare
1,098,669.67 0.00% 2,089,187.10 0.01%
Catalyst Co,. Ltd parts
United Prosperity Investment Co., Accept service
158,960.85 0.00% 1,080,030.39 0.00%
Ltd(Note 1)
Total 5,570,182,836.53 18.87% 5,050,573,186.60 18.72%
The price of the Group’s purchase from related parties is based on contracts agreed by both parties.
Note1: For year ended June 30, 2016, United Prosperity Investment Co., Ltd. provides financial service for the Company’s import of
machinery. This year, the Company payed RMB 47,803,362.65 yuan for purchase of machinery overseas on behalf of United
Prosperity Investment Co., Ltd. Therefore, the Company paid RMB 158,960.85 for its import and export financing service.
(2) Goods sold and services offered
Unit: Yuan
Current amount Prior-period Amount
Proportion Proportion
Related parties Nature of the transaction
of similar of similar
amount amount
transactio transactio
ns (%) ns (%)
Changan Ford Sales of spare parts,
13,330,752.68 0.04% 73,906,023.28 0.23%
Automobile Co.,Ltd. personnel support
Chongqing Changan Sales of spare parts,
Suzuki Automobile Co., personnel support 13,048,310.61 0.04% 75,671,958.06 0.23%
Ltd.
Changan PSA Sales of spare parts,
- 0.00% 2,439,567.21 0.01%
Automobiles Co.,Ltd personnel support
Changan Industries Sales of spare parts,
- 0.00% 541,079.03 0.00%
Group Co. Ltd. service charges
118
Chongqing Changan Automobile Company Limited 2016 Semi-annual Report
Chongqing Changan Sales of spare parts,
Minsheng Logistics Co., service charges 2,721.09 0.00% 350,364.60 0.00%
Ltd
Sichuan Hongguang Sales of raw material
Machinery and Electrics 3,594,642.55 0.01% 15,847,199.88 0.05%
Co., Ltd.
Chengdu Huachuan Sales of spare parts
Electric Equipment Co., - 0.00% 19,927.56 0.00%
Ltd.
Chongqing Anfu Sales of vehicles,spare
2,326,692.31 0.01% 1,462,393.16 0.00%
Automobile Co., Ltd. parts
China Changan Sales of vehicles,spare
Automobile Group parts 77,802,315.38 0.22% 72,491,378.02 0.22%
Tianjin Sales Co., Ltd.
Harbin Dongan Technical service
Automotive Engine 4,134,642.56 0.01% 7,779,449.96 0.02%
Manufacturing Co., Ltd.
Harbin Dongan Auto Sales of spare parts
31,418,692.31 0.09% - 0.00%
Engine Co., Ltd.
Wanyou Automobile Sales of vehicles, spare
591,402,100.86 1.68% 345,490,196.71 1.06%
Investment Co.,Ltd parts
Chengdu Lingchuan Sales of spare parts
50,192,579.49 0.14% 43,224,500.86 0.13%
Special Industry Co., Ltd.
Chengdu Lingchuan Sales of spare parts
Vehicle Oil Tank Co., - 0.00% 5,042,460.44 0.02%
Ltd.
Yunnan Xiyi Industries Sales of spare parts
889,815.43 0.00% 984,017.10 0.00%
Co., Ltd.
Chongqing Changan Sales of spare parts
Kuayue Automobile Co., 112,334.59 0.00% - 0.00%
Ltd.
South Air International Sales of spare parts
7,804.72 0.00% - 0.00%
Co.,Ltd.
Chongqing Wanyou Sales of vehicles, spare
Economic Technological parts 1,054,760,629.64 3.00% 1,005,948,700.61 3.10%
Development Co., Ltd.
Chongqing Wanyou Sales of vehicles, spare
Longrui Auto Sales and parts - 0.00% 1,051.66 0.00%
Service Co., Ltd.
Guangxi Wanyou Auto Sales of vehicles, spare
Sales and Service Co., parts 128,637,164.23 0.37% 114,639,872.53 0.35%
Ltd.
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Chongqing Changan Automobile Company Limited 2016 Semi-annual Report
Nanning Wanyou Auto Sales of vehicles, spare
Sales and Service Co., parts 61,201,545.30 0.17% 90,258,991.64 0.28%
Ltd.
Chengdu Wanyou Sales of vehicles, spare
Economic Technological parts 535,545,824.64 1.52% 394,601,982.01 1.21%
Development Co., Ltd.
Chengdu Wanyou Sales of vehicles, spare
Xiangyu Auto Sales and parts 768,919,170.42 2.19% 782,957,299.37 2.41%
Service Co., Ltd.
Yunan Wanyou Auto Sales of vehicles, spare
Sales and Service Co., parts 451,301,491.41 1.28% 536,252,713.70 1.65%
Ltd.
Guizhou Wanyou Auto Sales of vehicles, spare
Sales and Service Co., parts 570,880,470.30 1.62% 516,563,771.34 1.59%
Ltd.
Yunnan Xiangyu Auto Sales of vehicles, spare
Sales and Service Co., parts 66,282,249.58 0.19% 54,354,771.56 0.17%
Ltd.
China South Industries Regulatory charges
10,613,866.87 0.03% 7,716,484.00 0.02%
Group Finance Co.,Ltd
Total 4,436,405,816.97 12.61% 4,148,546,154.29 12.76%
The price of the Group’s purchase from related parties is based on contracts agreed by both parties.
（3）Related-party leasing
Related-party leasing
Unit: Yuan
Yearly
Type of leased The basis for
Lesser Lessee Starting date Expiring date recognized
assets rental pricing
rental
Chongqing
Changan Min Chongqing Based on
building 2016.01.01 2016.12.31 2,036,817.60
Sheng Logistics Changan agreement
Co., Ltd.
Chongqing
Changan Real
Chongqing Based on
Estate building 2016.01.01 2016.12.31 609,666.00
Changan agreement
Development Co.,
Ltd
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Chongqing Changan Automobile Company Limited 2016 Semi-annual Report
Chongqing Fuji
Supply Chain Chongqing storage and Based on
2016.01.02 2016.12.31 374,556.91
Management Changan land agreement
Co., Ltd
Chongqing
Changan Real
Chongqing Offices and Based on
Estate 2016.01.01 2016.12.31 802,488.00
Changan garages agreement
Development Co.,
Ltd
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Chongqing Changan Automobile Company Limited 2016 Semi-annual Report
（4）Other related transactions
Integrated service charges
Related parties Nature of the transaction Report period Same period of last year
Amount Proportion of similar Amount Proportion of similar transactions (%)
transactions (%)
Payment of land rental fees 11,859,085.50 10.24% 11,856,475.50 9.71%
Payment of building rental fees 18,174,709.12 15.69% 16,663,741.50 13.65%
Changan Industries
Payment of utilities 77,576,267.28 66.97% 82,475,499.37 67.57%
Group Co. Ltd
Payment of fire fighting fees 913,333.34 0.79% 685,000.00 0.56%
Others 7,304,411.24 6.31% 2,576,125.94 2.11%
Hafei Automobile Co.,
Integrated service charges - - 7,805,035.14 6.39%
Ltd.,
Total 115,827,806.48 100.00% 122,061,877.45 100.00%
Purchase of project materials
Report period Same period of last year
Related parties Amount Proportion of similar transactions Amount Proportion of similar transactions
(%) (%)
Chongqing Changan Construction Co., Ltd 123,917,178.80 10.38% 84,388,885.34 8.44%
Chongqing Changan Min Sheng Logistics Co., Ltd. 7,952,839.02 0.66% 1,718,008.15 0.17%
Changan Industries Group Co. Ltd 744,293.00 0.06% 1,337,830.00 0.13%
Total 132,614,310.82 11.10% 87,444,723.49 8.74%
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Chongqing Changan Automobile Company Limited 2016 Semi-annual Report
Techonology development service charges
Related parties Report period Same period of last year
Amount Proportion of similar transactions (%) Amount Proportion of similar transactions (%)
Changan PSA Automobiles Co., Ltd. 618,000.00 100% - -
Total 618,000.00 100% - -
Collection of trademark use rights fees
Report period Same period of last year
Proportion of
Related parties Proportion of similar
Amount similar Amount
transactions (%)
transactions (%)
Chongqing Changan Kuayue
5,957,433.96 100.00% - -
Automobile Co., Ltd.
Related party monetary funds
Ending Beginning
Amount Proportion of similar transactions Amount Proportion of similar transactions
Related parties
(%) (%)
China South Industries Group Finance Co., Ltd 2,683,611,210.80 12.56% 2,988,227,858.26 16.57%
Borrowing
Short-term borrowing
123
Chongqing Changan Automobile Company Limited 2016 Semi-annual Report
Ending Beginning
Amount Proportion of similar transactions Amount Proportion of similar transactions
Related parties
(%) (%)
China South Industries Group Finance Co., Ltd 150,000,000.00 90.24% 50,000,000.00 100.00%
Interest income of deferred payment
Report period Same period of last year
Amount Proportion of similar transactions Amount Proportion of similar transactions
Related parties
(%) (%)
Chongqing Wanyou Economic Technological Development Co., Ltd. 22,099.00 0.12% 32,435.89 0.14%
Ltd.Ltd. Wanyou Auto Sales and Service Co., Ltd.
Nanning - - 1,198.29 0.01%
Wanyou Automobile Investment Co., Ltd. 535,742.13 3.01% - -
Guangxi Wanyou Auto Sales and Service Co., Ltd. 16,621.24 0.09% - -
Guizhou Wanyou Auto Sales and Service Co., Ltd. 240,097.00 1.35% - -
Yunan Xiangyu Auto Sales and Service Co., Ltd. 109,010.00 0.61% - -
Chengdu Wanyou Economic Technological Development Co., Ltd. 541,478.81 3.04% 631,347.86 2.68%
Ltd. Wanyou Xiangyu Auto Sales and Service Co., Ltd. 365,659.00 2.05% 1,365,111.97 5.79%
Yunan Wanyou Auto Sales and Service Co., Ltd. 873,810.00 4.91% 40,744.44 0.17%
Total 2,704,517.18 15.18% 2,070,838.45 8.78%
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Chongqing Changan Automobile Company Limited 2016 Semi-annual Report
5、Payment and receivables of related parties
Payment receivables of related listed companies
Ending balance Beginning balance
Items Related parties Provision for Provision for
Book balance Book balance
bad-debts bad-debts
notes Wanyou Automobile
2,664,065,800.00 2,544,170,000.00
receivable Investment Co., Ltd.
notes
Tianjin Sales Co., Ltd.CCAG 58,420,503.00 77,701,470.00
receivable
notes Yunnan Wanyou Automobile
28,788,700.00 20,000,000.00
receivable Sales and Service Co., Ltd
Chengdu Wanyou Economic
notes
Technological Development 16,500,000.00 5,000,000.00
receivable
Co., Ltd
Chongqing Wanyou Economic
notes
Technological Development 6,700,000.00 3,500,000.00
receivable
Co., Ltd
notes Chongqing Changan Min Sheng
- 200,000.00
receivable Logistics Co., Ltd.
notes Guangxi Wanyou Automobile
3,800,000.00 -
receivable Sales and Service Co., Ltd
小计 Sub-total 2,778,275,003.00 2,650,571,470.00
account Chongqing Changan Suzuki
86,827,183.54 62,572,011.08
receivable Automobile Co., Ltd.
account Changan PSA Automobile Co.,
22,758,165.00 29,598,165.00
receivable Ltd.
account Changan Ford Automobile Co.,
30,561,372.95 28,255,292.83
receivable Ltd.
account Changan Mazda Automobile
- 11,009,839.17
receivable Co., Ltd.
account
Jiangling Holding Co., Ltd 5,463,207.59 9,310,692.81
receivable
account China South Industry Group
2,852,480.00 7,309,377.00
receivable Finance Co., Ltd
account Harbin Dongan Automotive
11,254,461.05 6,951,750.46
receivable Engine Manufacturing Co., Ltd.
account Changan Ford Mazda Engine - 6,023,814.08
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Chongqing Changan Automobile Company Limited 2016 Semi-annual Report
receivable Co., Ltd.
account Chongqing Changan Kuayue
9,008,385.36 3,690,822.00
receivable Automobile Co., Ltd
account United Prosperity Investment
1,224,544.70 1,520,264.30
receivable (Hong Kong) Co., Ltd
account Chongqing Changan Industries
1,372,559.29 1,380,710.79
receivable Group Co. Ltd
account Guangxi Wanyou Automobile
- 748,944.87
receivable Sales and Service Co., Ltd
Sub total 171,322,359.48 168,371,684.39
Other
Chongqing Changan Suzuki
account 80,000,000.00 80,000,000.00
Automobile Co., Ltd.
receivable
Other
Changan Ford Automobile Co.,
account - 3,934,632.00
Ltd.
receivable
小计 Sub total - 83,934,632.00
advanced Chongqing Changan Suzuki
- 292,769.25
payment Automobile Co., Ltd.
小计 Sub total - 292,769.25
Unit: Yuan
Items Related parties Ending balance Beginning balance
notes Harbin Dongan Automotive Engine
154,400,000.00 479,410,000.00
payable Manufacturing Co., Ltd.
notes
Changan Ford Automobile Co., Ltd. - 475,324,029.19
payable
notes
Chongqing Changan Construction Co., Ltd 11,110,829.00 296,563,745.00
payable
notes
Chongqing Changan Suzuki Automobile Co., Ltd. 17,251,738.34 294,658,696.24
payable
notes
Csgc Trw Chassis Systems Co.,Ltd. 58,160,000.00 201,310,000.00
payable
notes Harbin Dongan Automotive Engine
130,870,000.00 109,700,000.00
payable Manufacturing Co., Ltd.
notes Chongqing Jianshe Automotive Air-conditioner
20,000,000.00 89,890,000.00
payable Co., Ltd
notes South Air International Co.,Ltd. 14,770,000.00 76,720,000.00
126
Chongqing Changan Automobile Company Limited 2016 Semi-annual Report
payable
notes
Yunnan Xiyi Industries Co., Ltd 7,020,000.00 48,350,000.00
payable
notes
Chengdu Wanyou Filter Co., Ltd 7,950,000.00 43,980,000.00
payable
notes
Chongqing Dajiang Xinda Automobile Co.,Ltd. 4,990,000.00 38,990,000.00
payable
notes Chongqing Changan Min Sheng Logistics Co.,
27,821,486.29 26,791,651.72
payable Ltd.
notes
Chengdu Lingchuan Vehicle Oil Tank Co., Ltd 3,470,000.00 21,380,000.00
payable
notes Chongqing Wanyou Engineering Installation Co.,
1,502,000.00 18,898,000.00
payable Ltd
notes Sichuan Ningjiang Shanchuan Machinery Co, Ltd
3,760,000.00 16,960,000.00
payable Longchang Shock Absorber Branch
notes Hubei Xiaogan Huazhong Automobile Light Co.,
5,190,000.00 15,140,000.00
payable Ltd
notes
Sichuan Ningjiang Shanchuan Machinery Co, Ltd 2,550,000.00 7,360,000.00
payable
notes
Chongqing Changrong Machinery Co., Ltd - 4,920,000.00
payable
notes Chongqing Qingshan Transmission
900,000.00 -
payable Branch,CCAG
notes
Chongqing Dajiang Jiexin Forging Co., Ltd - 4,810,000.00
payable
notes Sichuan Hongguang Machinery and Electrics Co.,
410,000.00 4,520,000.00
payable Ltd
notes Chengdu Guangming Tanaka Environmental
- 4,390,000.00
payable Catalyst Co,. Ltd
notes
Chengdu NingXing Automobile Spring Co., Ltd. 640,000.00 3,350,000.00
payable
notes Chongqing Xiyi Automobile Linkage Rod Co.,
- 3,070,000.00
payable Ltd.
notes
Chongqing Shangfang Automotive Parts Co., Ltd - 2,540,000.00
payable
notes
Chongqing Changfeng Jiquan Machinery Co., Ltd - 2,200,000.00
payable
127
Chongqing Changan Automobile Company Limited 2016 Semi-annual Report
notes
Chengdu Huachuan Electric Equipment Co., Ltd 2,030,000.00 1,810,000.00
payable
notes
Chongqing Changan Industries Group Co. Ltd - 1,092,602.70
payable
notes Chengdu Jialing Huaxi Optical & Precision
- 690,000.00
payable Machinery Co., Ltd
notes Chongqing Changan Property Management Co.,
- 570,000.00
payable Ltd.
小计 Sub total 474,796,053.63 2,295,388,724.85
account
Changan Ford Automobile Co., Ltd. 23,094,942.04 245,147,629.51
payable
account Harbin Dongan Automotive Engine
294,659,158.18 215,741,604.30
payable Manufacturing Co., Ltd.
account Chongqing Qingshan Transmission
191,692,518.64 123,739,750.74
payable Branch,CCAG
account
Csgc TRW Chassis Systems Co.,Ltd 144,058,119.08 112,039,307.48
payable
account
Sichuan Jianan Industries Co., Ltd 96,970,589.92 111,450,178.28
payable
account
South Air International Co, .Ltd 63,400,974.03 100,144,195.95
payable
account Harbin Dongan Automotive Engine
517,691,578.38 98,838,874.81
payable Manufacturing Co., Ltd.
account
Chongqing Changan Suzuki Automobile Co., Ltd. 69,340,827.79 85,609,784.33
payable
account
Chengdu Huachuan Electric Equipment Co., Ltd 38,618,366.98 47,575,356.65
payable
account
Hafei Automobile Co., Ltd. - 31,407,623.53
payable
account Chongqing Jianshe Automotive Air-conditioner
42,369,615.35 29,805,780.61
payable Co., Ltd
account Hubei Xiaogan Huazhong Automobile Light Co.,
26,272,596.31 23,803,051.46
payable Ltd
account Chongqing Changan Min Sheng Logistics Co.,
10,510,851.25 22,348,610.06
payable Ltd.
account
Chengdu Wanyou Filter Co., Ltd 47,580,080.10 21,091,610.85
payable
account Chengdu Lingchuan Vehicle Oil Tank Co., Ltd 10,990,942.77 16,155,847.89
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Chongqing Changan Automobile Company Limited 2016 Semi-annual Report
payable
account
Chongqing Shangfang Automotive Parts Co., Ltd 22,158,691.18 15,821,551.80
payable
account Sichuan Ningjiang Shanchuan Machinery Co, Ltd
11,463,594.26 14,403,026.51
payable Longchang Shock Absorber Branch
account Chengdu Ningjiang Zhaohe Automobile
4,629,550.04 13,666,197.68
payable Components Co., Ltd
account
Chongqing Dajiang Xinda Automobile Co.,Ltd. 8,424,098.39 10,359,166.23
payable
account
Chengdu Lingchuan Special Industry Co., Ltd 17,001,856.15 7,758,782.79
payable
account
Chongqing Changfeng Jiquan Machinery Co., Ltd 8,287,391.09 7,440,982.33
payable
account
Chongqing Changrong Machinery Co., Ltd 6,235,727.14 7,365,511.89
payable
account
Sichuan Ningjiang Shanchuan Machinery Co, Ltd 38,206,940.97 6,252,805.67
payable
account Chongqing Yihong Engineering Plastic Products
3,466,594.13 5,338,106.65
payable Co., Ltd
account Chengdu Guangming Tanaka Environmental
775,896.49 4,660,452.98
payable Catalyst Co,.Ltd
account
Yunnan Xiyi Industries Co., Ltd 13,966,398.87 4,591,599.90
payable
account Chongqing Qingshan Transmission Branch,
5,195,635.54 4,556,221.79
payable CCAG
account Chongqing Wanyou Economic Development Co.,
31,337,655.72 4,481,651.40
payable Ltd
account
Chongqing Dajiang Jiexin Forging Co., Ltd 413,151.57 3,674,483.82
payable
account Sichuan Hongguang Machinery and Electrics Co.,
1,509,301.52 3,661,396.48
payable Ltd
account
Chongqing Changan Industries Group Co. Ltd 5,650,043.51 3,182,654.75
payable
account
Chengdu Ningxing Automobile Spring Co., Ltd 1,433,548.24 2,021,474.70
payable
account Chongqing Xiyi Automobile Linkage Rod Co.,
242,581.82 1,279,973.77
payable Ltd.
account Chengdu Jialing Huaxi Optical & Precision 279,335.85 1,030,120.96
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Chongqing Changan Automobile Company Limited 2016 Semi-annual Report
payable Machinery Co., Ltd
account Yunnan Wanyou Automobile Sales and Service
- 397,942.30
payable Co., Ltd
account Chongqing Jialing Yimin Special Equipment Co.,
104,496.50 271,263.58
payable Ltd.
account Beijing Beiji Mechanical and Electrical Industry
158,672.09 240,015.76
payable Co., Ltd
account Chongqing Changan Visteon Engine Control
1,520,257.18 224,517.66
payable Systems Co., Ltd.
account
Chongqing Automotive Air-conditioner Co., Ltd 205,041.51 205,041.51
payable
account Guizhou Wanyou Automobile Sales and Service
- 186,593.64
payable Co., Ltd
account
Chongqing Dajiang Yuqiang Plastic Co., Ltd 117,577.35 113,514.74
payable
account
Chengdu Jian'an Axle Branch,CCAG 481,469.18 113,477.38
payable
account Nanning Wanyou Automobile Sales and Service
- 26,440.42
payable Co., Ltd
account Guangxi Wanyou Automobile Sales and Service
- 20,983.69
payable Co., Ltd
account Chengdu Wanyou Economic Technological
- 18,966.83
payable Development Co., Ltd
account
Chengdu Wanyou Trading Co., Ltd - 7,325.00
payable
account
Chongqing Changan Kuayue Automobile Co., Ltd 1,382.56 1,382.56
payable
Sub total 1,760,518,049.67 1,408,272,833.62
advance
Changan Mazda Automobile Co., Ltd 1,423,660.83 -
receipts
advance
Changan Ford Mazda Engine Co., Ltd 3,256,185.92 -
receipts
advance Chengdu Wanyou Xiangyu Automobile Sales and
77,094,559.70 90,137,523.07
receipts Service Co., Ltd
advance Yunnan Wanyou Automobile Sales and Service
20,827,835.84 61,850,331.89
receipts Co., Ltd
advance Chongqing Wanyou Economic Development Co.,
30,134,630.15 61,170,435.54
receipts Ltd
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Chongqing Changan Automobile Company Limited 2016 Semi-annual Report
advance
Wanyou Automobile Investment Co., Ltd. 4,096,403.00 32,945,166.00
receipts
advance Chengdu Wanyou Economic Technological
29,643,350.65 29,338,414.31
receipts Development Co., Ltd
advance Guizhou Wanyou Automobile Sales and Service
52,364,309.06 27,596,698.89
receipts Co., Ltd
advance Guangxi Wanyou Automobile Sales and Service
4,270,723.54 19,964,328.03
receipts Co., Ltd
advance Nanning Wanyou Automobile Sales and Service
1,230,682.87 13,981,164.87
receipts Co., Ltd
advance Yunnan Xiangyu Automobile Sales and Service
903,151.00 12,485,207.00
receipts Co., Ltd
advance China Changan Automobile Group Tianjin Sales
573,003.00 2,343,429.00
receipts Co., Ltd
advance
Hafei Automobile Co., Ltd. 670,500.00 670,500.00
receipts
advance Chongqing Changan Min Sheng Logistics Co.,
361,998.32 360,581.64
receipts Ltd.
advance
Chongqing Anfu Automobile Co., Ltd 5,101,770.00 -
receipts
advance
South Air International Co, .Ltd - 8,273.00
receipts
advance Chongqing Wanyou Longrui Automobile Sales
659.60 659.60
receipts and Service Co., Ltd
小计 Sub total 231,953,423.48 352,852,712.84
other United Prosperity Investment (Hong Kong) Co.,
332,188.10 254,892,920.19
payables Ltd
other Chongqing Changan Min Sheng Logistics Co.,
449,568,366.16 110,766,572.66
payables Ltd.
other
Chongqing Changan Industries Group Co. Ltd 4,332,918.10 21,569,325.60
payables
other
Chongqing Changan Construction Co., Ltd 4,758,608.70 15,303,959.24
payables
other Chongqing Fuji Supply Chain Management Co.,
315,740.00 5,971,532.25
payables Ltd
other
Hafei Automobile Co., Ltd. 4,278,783.60 4,278,783.60
payables
other Chongqing Changan Property Management Co., 1,769,936.92 1,322,786.15
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Chongqing Changan Automobile Company Limited 2016 Semi-annual Report
payables Ltd.
other Chongqing Wanyou Engineering Installation Co.,
1,784,288.00 907,708.00
payables Ltd
other Yunnan Wanyou Automobile Sales and Service
549,012.40 714,186.12
payables Co., Ltd
other Chongqing Wanyou Economic Development Co.,
100,000.00 679,167.70
payables Ltd
other Guizhou Wanyou Automobile Sales and Service
249,898.80 387,049.24
payables Co., Ltd
other Chengdu Wanyou Economic Technological
264,513.68 150,230.00
payables Development Co., Ltd
other Guangxi Wanyou Automobile Sales and Service
171,475.10 150,000.00
payables Co., Ltd
other
Chengdu Wanyou Filter Co., Ltd 120,000.00 120,000.00
payables
other Chongqing Changan Real Estate Development
81,192.78 64,790.00
payables Co., Ltd
other Chengdu Wanyou Xiangyu Automobile Sales and
399,981.12 34,356.00
payables Service Co., Ltd
Subtotal 469,076,903.46 417,313,366.75
XIII、Commitments and Contingencies
1、Significant commitments
Investment commitment
By June 30th 2016, the group has no investment commitment that has been signed but not yet fully fulfilled.
2、Contingencies
By June 30th 2016, the company has no significant contingencies that need to be published.
XIV、Events after the balance sheet date
1、 significant non-adjusting events
□Applicable √not Applicable
2、 Distribution of profit
□Applicable √not Applicable
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Chongqing Changan Automobile Company Limited 2016 Semi-annual Report
3、 Sales return
□Applicable √not Applicable
XV、Other important events
1、Correction of accounting error of earlier stage
□Applicable √not Applicable
2、Debt restructuring
□Applicable √not Applicable
3、Asset replacement
□Applicable √not Applicable
4、Annuity plan
□Applicable √not Applicable
5、Discontinuing operation
□Applicable √not Applicable
6、Information on business branch
Identify business branch of the group according to internal organization structure, management requirements, internal reporting
rules, and identify the report and information disclosed of the brand based on the identified branch.
business branch refers to the component of the group that meets the following conditions:
(1) the component has income and expenditure incurred in routine activities;
(2) the management of the company regularly evaluates the operation performance of the component to decide the company’s
resource distribution and evaluate its overall performance
(3) The group receives related accounting information on the financial situation, operation performance and cash flow.
If two or more components have similar economic features and meet the conditions, they should be consolidated into one
branch.
Income and profit of the group consists of automobile manufacturing and domestic sales. Main asset of the group is in China.
The management of the group evaluates the performance of the group as a whole. Thus, report of the branch is not included in this
year’s report.
XVI、Notes to the main items of the parent company’s financial statements
1、Account Receivables
（1）Account Receivables
Items Ending Beginning
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Chongqing Changan Automobile Company Limited 2016 Semi-annual Report
book balance provision for bad-debts book balance provision for bad-debts
amount (%) amount (%) amount (%) amount (%)
Individually significant
amount and account
481,197,666.69 9.26 - - 106,141,701.22 3.09 - -
receivables of individually
provision for bad debts
Account receivables of provision for bad-debts calculated and extracted by groups
Group 1: account
receivables of provision
for bad-debts calculated 115,757,746.90 2.23 44,136,311.57 38.13 93,941,328.52 2.73 44,127,656.24 46.97
and extracted by aging
analysis
Group 2: Account
receivables for related 4,601,765,956.70 88.51 - - 3,239,393,894.78 94.18 - -
parties
Group subtotal 4,717,523,703.60 90.74 44,136,311.57 0.94 3,333,335,223.30 96.91 44,127,656.24 1.32
Not individually
significant amount but
other receivables of 7,865.00 - 7,439.50 94.59 - - - -
individually provision
for bad debts
Total 5,198,729,235.29 100.00 44,143,751.07 0.85 3,439,476,924.52 100.00 44,127,656.24 1.28
Types of account receivables
Within groups, account receivables of provision for bad-debts are calculated and extracted by aging analysis
□Applicable √not Applicable
ending beginning
account
book balance provision for book balance provision for
receivable age
account (%) bad-debts account (%) bad-debts
within 1 year
Including -- -- -- -- -- --
0- 6 months 70,393,037.55 60.81 48,596,196.09 51.73 -
6 to 12 months 140,097.51 0.12 7,004.88 274,050.19 0.29 13,702.51
Within 1 year
70,533,135.06 60.93 7,004.88 48,870,246.28 52.02 13,702.51
subtotal
1 to 2 years 161,394.61 0.14 16,139.46 7,865.01 0.01 786.50
134
Chongqing Changan Automobile Company Limited 2016 Semi-annual Report
2 to 3 years - - - - - -
3 to 4 years 1,900,100.00 1.64 950,050.00 1,900,100.00 2.02 950,050.00
4 to 5 years - - - - - -
Over 5 years 43,163,117.23 37.29 43,163,117.23 43,163,117.23 45.95 43,163,117.23
Total 115,757,746.90 100.00 44,136,311.57 93,941,328.52 100.00 44,127,656.24
Within groups, account receivables of provision for bad-debts are calculated and extracted by balance percentage
□Applicable √Not applicable
（2）Top 5 amount in account receivables
Unit:Yuan
relationship with
proportion of total account
Companies Changan amount years
receivables (%)
Automobile
Nanjing Changan Automobile Co., Ltd. subsidiary 1,871,154,484.90 Within 1 year 35.99
subsidiary
Hefei Changan Automobile Co., Ltd. 927,422,448.70 17.84
Within 1 year
Chongqing Changan Vehicle subsidiary
543,090,300.00 Within 1 year 10.45
Networking Technology Co., Ltd.
Chongqing Changan Automobile subsidiary
431,794,456.75 Within 1 year 8.31
International Sales Service Co., Ltd.
Hebei Changan Automobile Co., Ltd subsidiary
342,226,394.72 Within 1 year 6.58
Co., Ltd.
Total -- 4,115,688,085.07 -- 79.17
（3）Account receivables of related parties
Unit:Yuan
Proportion of total
Relationship with the
Companies Amount account receivables
Company
(%)
Baoding Changan Bus Manufacturing Co., Ltd. subsidiary 157,347,455.42 3.03
Changan Automobile Group Co., Ltd. - Harbin
subsidiary 872,732.96 0.02
Sales Branch
Hefei Changan Automobile Co., Ltd subsidiary 927,422,448.70 17.84
Hebei Changan Automobile Co., Ltd. subsidiary 342,226,394.72 6.58
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Chongqing Changan Automobile Company Limited 2016 Semi-annual Report
Heilongjiang Changan Automobile Sales Co., Ltd. subsidiary 74,361,178.15 1.43
Liaoning Changan Automobile Sales Co., Ltd. subsidiary 7,372,369.23 0.14
Nanjing Changan Automobile Co., Ltd. subsidiary 1,871,154,484.90 35.99
Xinjiang Changan Automobile Sales Co., Ltd. subsidiary 43,289,023.16 0.83
Yingchuan Changan Automobile Sales Co., Ltd. subsidiary 1,563,750.20 0.03
Chongqing Changan International Automobile Sales
subsidiary 431,794,456.75 8.31
and Service Co., Ltd
Chongqing Changan Special Automobile sales Co.,
subsidiary 21,459,940.77 0.41
Ltd
Changan PSA Automobile Co., Ltd joint venture 22,758,165.00 0.44
Changan Ford Automobile Co., Ltd joint venture 30,561,372.95 0.59
Harbin Dongan Automotive Engine Manufaturing controlled by the same parent
11,254,461.05 0.22
Co., Ltd. company
Jiangling Holding Co., Ltd joint venture 5,463,207.59 0.11
controlled by the same
Chongqing Changan Industries Group Co. Ltd 1,372,559.29 0.03
ultimate holding company
Chongqing Changan Kuayue Automobile Co., Ltd Associated Enterprise 9,008,385.36 0.17
Chongqing Changan Suzuki Automobile Co., Ltd joint venture 86,827,183.54 1.67
Chongqing Changan Vehicle Networking
subsidiary 543,090,300.00 10.45
Technology Co., Ltd.
Chongqing Changan Automobile Customer Service
subsidiary 12,566,086.96 0.23
Co., Ltd.
Total -- 4,601,765,956.70 88.52
2、Other receivables
（1）Other receivables
ending beginning
provision for provision for
Items book balance book balance
bad-debts bad-debts
Amount (%) Amount (%) Amount (%) Amount (%)
Individually significant
amount and account
514,098,000.00 44.15 416,830,000.00 40.74 - -
receivables of individually
provision for bad debts
136
Chongqing Changan Automobile Company Limited 2016 Semi-annual Report
Account receivables of provision for bad-debts calculated and extracted by groups
Group 1: account receivables
of provision for bad-debts
46,989,691.36 4.04 2,300,591.93 4.90 54,593,677.32 5.34 2,094,451.68 3.84
calculated and extracted by
aging analysis
Group 2: Account receivables
of provision for bad-debts
603,292,597.13 51.81 551,618,383.62 53.92 - -
calculated and extracted by
related parties
Group subtotal 650,282,288.49 55.85 2,300,591.93 0.35 606,212,060.94 59.26 2,094,451.68 0.35
no Individually significant
amount but other receivables
- - - -
of individually provision
for bad debts
Total 1,164,380,288.49 100.00 2,300,591.93 0.20 1,023,042,060.94 100.00 2,094,451.68 0.20
Types of the account receivables
account receivables of provision for bad-debts are calculated and extracted by aging analysis
√Applicable □ not Applicable
ending beginning
account
book balance provision for book balance provision for
receivable Age
amount (%) bad-debts amount (%) bad-debts
Within 1 year
Among： -- -- -- -- -- --
0-6 months 40,133,254.20 85.41 - 50,178,793.87 91.92 -
6 to 12 months 4,054,410.47 8.63 202,720.52 2,097,465.20 3.84 104,873.26
Within 1 year
44,187,664.67 94.04 202,720.52 52,276,259.07 95.76 104,873.26
subtotal
1 to 2 years 699,943.71 1.49 69,994.37 230,114.30 0.42 23,011.43
2 to 3 years 84,627.27 0.18 25,388.18 99,781.94 0.18 29,934.58
3 to 4 years 29,933.70 0.06 14,966.85 - - -
4 to 5 years - - - 254,448.01 0.47 203,558.41
Over 5 years 1,987,522.01 4.23 1,987,522.01 1,733,074.00 3.17 1,733,074.00
Total 46,989,691.36 100.00 2,300,591.93 54,593,677.32 100.00 2,094,451.68
Within groups, account receivables of provision for bad-debts are calculated and extracted by balance percentage.
□Applicable √not Applicable
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Chongqing Changan Automobile Company Limited 2016 Semi-annual Report
（2）Other account receivables of related parties
Unit:Yuan
relationship with Changan Proportion of total account
Companies amount
Automobile receivables (%)
Changan Automobile Russia Co., Ltd. subsidiary 24,782,800.00 2.13
Nanjing Changan Automobile Co., Ltd. subsidiary 19,161,427.05 1.65
Chongqing Changan Suzuki Automobile Co., Ltd joint venture 80,000,000.00 6.87
Baoding Changan Bus Manufacturing Co., Ltd. ubsidiary 166,000,000.00 14.26
Total -- 289,944,227.05 24.91
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Chongqing Changan Automobile Company Limited 2016 Semi-annual Report
3、Long-term equity investment
Unit:Yuan
impair
Explanation for the
Share Voting ment
Accou difference between Impa
beginning proportion in proportion in provisi cash bonus in
Invested in nting capitalized cost increase/decrease ending amount shareholding irme
amount the company the company on in current period
method percentage and nt
invested (%) invested (%) current
voting percentage
period
1、Joint ventures
Chongqing Changan Suzuki
Equity 237,719,933.33 1,408,273,674.47 -25,628,626.69 1,382,645,047.78 50 50 Nothing
Automobile Co., Ltd
Jiangling Holding Co., Ltd Equity 1,008,511,522.00 2,334,057,207.68 181,388,135.45 2,515,445,343.13 50 50 Nothing
Changan Ford Automobile Equity
975,232,926.29 4,617,363,993.97 923,128,890.36 5,540,492,884.33 50 50 Nothing 3,450,000,000.00
Co., Ltd
Changan Mazda Automobile Equity
1,097,839,635.00 1,672,590,730.82 414,989,302.22 2,087,580,033.04 50 50 Nothing
Co., Ltd
Changan Ford Mazda Engine Equity
786,734,634.10 720,178,224.15 80,216,151.05 800,394,375.20 50 50 Nothing
Co., Ltd
Changan PSA Automobile Equity
2,007,841,700.00 1,795,746,892.81 -117,857,515.40 1,677,889,377.41 50 50 Nothing
Co., Ltd
2、Associated Enterprises
Chongqing Xiyi Automobile Equity
7,600,027.62 9,220,184.59 -392,641.56 8,827,543.03 40 40 Nothing
Linkage Rod Co., Ltd
Chongqing Changan Kuayue Equity 61,800,885.00 66,558,691.97 4,886,884.01 71,445,575.98 34.3 34.3 Nothing
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Chongqing Changan Automobile Company Limited 2016 Semi-annual Report
Automobile Co., Ltd
Chongqing Changan Kuayue Equity
1.00 - - - 34.3 34.3 Nothing
Automobile Sales Co., Ltd
Beijing Fang’an taxi Co., Equity
6,000,000.00 - - - 42.25 42.25 Nothing
Ltd
Chongqing Auto Finance Equity Nothing - - -
1,155,000,000.00 1,155,000,000.00 -42,623,494.17 1,112,376,505.83 35 35
Co., Ltd.
3、Subsidiaries
Cost minority
shareholders
Nanjing Changan
422,183,259.00 422,533,259.00 422,533,259.00 84.73 91.53 authorize the
Automobile Co., Ltd
company to exercise
voting right
Cost minority
shareholders
Hebei Changan Automobile
438,573,236.00 438,223,236.00 438,223,236.00 94.22 95.62 authorize the
Co., Ltd
company to exercise
voting right
Chongqing Changan Cost
International Automobile 13,068,580.00 13,068,580.00 13,068,580.00 95 95 Nothing
Sales and Service Co., Ltd
Chongqing Changan Cost
Automobile Customer 29,700,000.00 29,700,000.00 29,700,000.00 99 99 Nothing
Service Co., Ltd.
Chongqing Changan Vehicle Cost
88,500,000.00 48,500,000.00 40,000,000.00 88,500,000.00 100 100 无
Networking Technology Co.,
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Chongqing Changan Automobile Company Limited 2016 Semi-annual Report
Ltd.
Chongqing Changan Cost
8,050,000.00 8,050,000.00 8,050,000.00 90-100.00 90-100.00 无
Automobile Sales Co., Ltd
Chongqing Changan Special Cost
2,500,000.00 2,500,000.00 2,500,000.00 50 50 无
Automobile Sales Co., Ltd
Chongqing Changan Europe Cost
134,879,700.00 134,879,700.00 134,879,700.00 100 100 无
Design Center Co., Ltd
Chongqing Changan new Cost
18,850,000.00 18,850,000.00 18,850,000.00 65 65 无
Engergy Automobile Co. Ltd
Changan United Kingdom Cost
185,577,829.40 981,934.40 184,595,895.00 185,577,829.40 100 100 无
R&D Center Co., Ltd.
Beijing Changan Automotive Cost
engineering and Technology 1,000,000.00 1,000,000.00 1,000,000.00 100 100 无
Reseach Co., Ltd.
Harbin Changan Automotive Cost
Technology Reseach Co., 1,000,000.00 1,000,000.00 1,000,000.00 100 100 无
Ltd.
Shanghai Changan Cost
Automotive Engineering and 1,000,000.00 1,000,000.00 1,000,000.00 100 100 无
Technology Co., Ltd.
Changan Japan Design Cost
1,396,370.15 1,396,370.15 1,396,370.15 100 100 无
Center Co., Ltd.
Changan United States R&D Cost
1,317,720.00 1,317,720.00 1,317,720.00 100 100 无
Center Co., Ltd.
Baoding Changan Bus Cost
176,002,613.18 176,002,613.18 176,002,613.18 100 100 无
Manufacturing Co., Ltd.
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Chongqing Changan Automobile Company Limited 2016 Semi-annual Report
Hefei Changan Automobile Cost
35,367,765.23 35,367,765.23 35,367,765.23 100 100 无
Co., Ltd
Changan Automobile Russia Cost
1,242,589.15 1,242,589.15 1,242,589.15 100 100 无
Co., Ltd.
Changan Brazil Holding Co., Cost
2,584,556.97 2,584,556.97 2,584,556.97 100 100 无
Ltd
Shenzhen Changan New
Engergy Automobile Service Cost 50,000,000.00 50,000,000.00 50,000,000.00 100 100 无
Co. Ltd
Total -- 8,957,075,483.42 16,234,640,261.85 1,148,972,164.98 17,383,612,426.83 -－ -－ 无 3,450,000,000.00
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Chongqing Changan Automobile Company Limited 2016 Semi-annual Report
4、Operating revenue and cost
（1）Operating revenue
Items current amount prior-period amount
main business income 34,406,157,940.41 31,903,220,159.67
other business income 887,006,007.46 612,593,697.38
Total 35,293,163,947.87 32,515,813,857.05
operating cost 30,058,276,365.82 27,233,358,002.09
（2）Main business (classified by industries)
current amount prior-period amount
Industries
revenue cost revenue cost
Automobile manufacturing
industry 34,406,157,940.41 29,588,612,268.30 31,903,220,159.67 26,933,368,580.98
Total 34,406,157,940.41 29,588,612,268.30 31,903,220,159.67 26,933,368,580.98
（3）Main business (classified by products)
current amount prior-period amount
Products
revenue cost revenue cost
Sales of goods 34,325,368,530.76 29,502,999,466.12 31,813,014,586.63 26,867,276,390.33
Outsourcing processing 80,789,409.65 85,612,802.18 90,205,573.04 66,092,190.65
Total 34,406,157,940.41 29,588,612,268.30 31,903,220,159.67 26,933,368,580.98
（4）Revenue from top 5 customers
Unit:Yuan
customers total revenue proportion of total revenue (%)
Chongqing Wanyou Economic Development Co.,
799,604,958.75 2.27
Ltd
Chengdu Wanyou Xiangyu Automobile Sales and
769,320,435.73 2.18
Service Co., Ltd
Beijing Qingchangfeng Commerce and Trade Co., 741,211,922.05 2.10
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Chongqing Changan Automobile Company Limited 2016 Semi-annual Report
Ltd.
Beijing Xinxing Kuaima Automobile Service Co.,
624,435,889.48 1.77
Ltd.
Hebei Changan Automobile Co., Ltd 591,452,138.44 1.68
Total 3,526,025,344.45 10.00
5、Investment income
（1）Details of investment income
Items current amount prior-period amount
Long-term equity investment income measured by cost
method
Long-term equity investment income measured by equity
method 5,204,376,269.98 4,910,730,579.44
investment income from long -term equity investment
- -
disposition
investment income from financial assets available for sale 4,615,000.00 52,219,215.31
others 3,581,686.96 -
Total 5,212,572,956.94 4,962,949,794.75
（2）Long-term equity investment income measured by cost accounting method
None
（3）Long-term equity investment income measured by equity accounting method
invested in current amount prior-period amount
Changan Ford Automobile Co., Ltd. 4,565,590,447.59 4,373,128,890.36
Changan Mazda Automobile Co., Ltd. 475,489,615.75 414,989,302.22
Changan Suzuki Automobile Co., Ltd. 8,572,426.12 -25,628,626.69
Changan Ford Mazda Engine Co., Ltd. 83,930,973.87 80,216,151.05
150,430,712.08 181,388,135.45
Jiangling Holding Co., Ltd
Chongqing Xiyi Automobile Linkage Rod -9,644.73 -392,641.56
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Chongqing Changan Automobile Company Limited 2016 Semi-annual Report
Co., Ltd
Beijing Fang’an taxi Co., Ltd - -
Changan PSA Automobile Co., Ltd. -39,866,555.46 -117,857,515.40
Chongqing Changan Kuayue Automobile
- -
Sales Co., Ltd.
Chongqing Changan Kuayue Automobile
2,861,788.93 4,886,884.01
Co., Ltd
Chongqing Auto Finance Co., Ltd. -42,623,494.17 -
Total 5,204,376,269.98 4,910,730,579.44
6、Supplementary information of cash flow statement
Supplementary information Current amount Prior-period amount
1．Cash flow relating to operating activities calculated by adjusting -- --
the net profit
net profit 5,442,678,253.60 5,062,882,215.07
add: provision for assets impairment 134,683,832.36 131,306,302.80
Depreciation of fixed assets, oil and gas assets, productive biological 1,001,364,922.13 735,935,775.85
assets
amortization of intangible assets 220,418,638.59 197,223,598.35
amortization of long-term deferred expense 90,040.00 90,040.00
Disposal loss/(income) on fixed assets, intangible assets and others
-2,131,570.26 -66,813,978.44
long-term assets(with “-” for gains)
Loss on discarding of fixed assets(with “-” for gains) - -
Loss from fair value changes (with “-” for gains) - -
Financial expense(with “-” for gains) -98,286,753.07 -63,610,178.21
Investment loss(with “-” for gains) -5,212,572,956.94 -4,962,949,794.75
Decrease in deferred tax assets(with “-” for gains) 32,558,271.51 -206,462,867.15
increase in deferred income tax assets (with "-" for decrease) - -
Decrease in inventory(with “-” for gains) -2,025,268,737.26 -990,630,653.16
decrease of operational receivables (with "-" for increase) 896,355,780.90 -907,826,328.68
increase of operational payables (with "-" for decrease) 3,523,493,754.58 7,294,362,846.82
others - -
net cash flow from operating activities 3,913,383,476.14 6,223,506,978.50
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Chongqing Changan Automobile Company Limited 2016 Semi-annual Report
2． major investment and financing activities involving no cash -- --
incomings / outgoings
3． net change in cash and cash equivalent -- --
ending balance of cash 20,438,337,541.18 12,767,290,886.88
Less: beginning balance of cash 17,223,403,333.90 8,828,152,864.35
Net increase in cash and cash equivalents 3,214,934,207.28 3,939,138,022.53
XVII、Additional information
1、 Non-recurring profit and loss statement of current period
Items amount explanation
profit and loss of non-current assets disposition -5,941,041.23
government subsidies counted in current profit and loss (except the
government subsidies which are closely related with business events, and 496,486,470.68
given certain amount according to national standards)
net profit and loss of the subsidiary company merged by the same
controlling company from the beginning of report period to date of
merging. -
investment income from disposition of financial assets available for sale -
other non-business incomings and outgoings except above-mentioned
14,125,161.47
items
Less: amount influenced by income tax 63,165,939.22
amount influenced by minority shareholders’ interest (after tax) 1,827,521.30
Total 439,677,130.40 --
If the company identifies non-recurring profit and loss defined by Information Disclosure by Companies Offering Securities to the
Public No. 1--non-recurring profit and loss and non-recurring profit and loss defined by Information Disclosure by Companies
Offering Securities to the Public No. 1--non-recurring profit and loss as recurring profit and loss, explain the reasons.
□ applicable √ not applicable
2、Return on equity and earnings per share
Weighted average return Earnings per share
Profit in report period
on equity Basic EPS Diluted EPS
Net profit belonging to the Company’s common stockholders 15.43% 1.18 1.18
Net profit belonging to the Company’s common stockholders 14.19% 1.08 1.08
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Chongqing Changan Automobile Company Limited 2016 Semi-annual Report
after deducting non-recurring profit and loss
3、Accounting data difference by domestic and foreign accouting standards
（1） Net profit and net asset differences from financial statements by global GAAC and prc GAAC
□ applicable √ not applicable
（2） Net profit and net asset differences from financial statements by GAAC abroad and PRC GAAP
□ applicable √ not applicable
（3）Description on accounting data differences by domestic and foreign accounting standards. If auditing
institutions abroad have adjusted the data differences, identify the name of the auditing institution abroad.
None
4、Others
□ applicable √ not applicable
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Chongqing Changan Automobile Company Limited 2016 Semi-annual Report
IV Catalogue of Reference Files
Catalogue of Reference Files
一、semi-annual report with signature of legal representative;
二、financial statements, with the signatures and seals of legal representative, person in charge of accounting, and person in
accounting agency;
三、BOD resolutions and written confirmation documents signed by board members and senior executives;
四、written auditing opinions in form of resolution by the Board of Supervisors;
五、All original copies of company documents and announcements disclosed in China Securities Journal, Securities Time, and
Hong Kong Commercial Daily in reporting period.
The company will provide the the abovementioned reference files timely when required by China Securities Regulatory
Commission and Shenzhen Stock Exchange, and required by shareholders according to law and corporate regulations.
Chairman：Xu Liuping
Submit Date Approved by BOD: August 29, 2016
148
