Share’s 000550 Share’s Jiangling Motors No.： 2019-044
code： 200550 Name： Jiangling B
Jiangling Motors Corporation, Ltd.
Extracts From 2019 Half-year Report
1. Important note
These extracts are extracted from the original of JMC half-year report. To fully
understand the Company’s operating results, financial status and future
development plan, investors should carefully read the original for details in the
website designated by CSRC for publication of JMC’s Half-year Report.
Abnormal opinions from directors, supervisors and senior managers
□Applicable √Not Applicable
Director David Johnston did not attend this meeting, and he authorized Vice
Chairman Anning Chen to represent him at this meeting, and all the other
Directors were present at the Board meeting in person.
Abnormal opinions from accounting firm for the reporting period
□Applicable √Not Applicable
Proposal on profit distribution and converting capital reserve to share capital
□Applicable √Not Applicable
JMC will not pay dividend in cash or stock, or convert capital reserve to share
capital.
Proposal on profit distribution of preferred shares
□Applicable √Not Applicable
2. Brief introductions
2.1 Company’s information
Share’s name Jiangling Motor, Share’s 000550,
Jiangling B code 200550
Place of listing Shenzhen Stock Exchange
Contact persons Board Secretary Securities Affair
and contact details Representative
Name Wan Hong Quan Shi
Contact address No. 509, Northern Yingbin Avenue, Nanchang City,
Jiangxi Province, P.R.C
Telephone 86-791-85266178
Fax 86-791-85232839
E-mail relations@jmc.com.cn
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2.2 Main accounting data and financial ratios
Whether the previous accounting data should be retroactive adjusted?
□Yes √No
Unit: RMB ‘000
Reporting period Same period
(2019 first half) last year Change (%)
Revenue 13,721,954 14,287,497 -3.96
Profit Attributable to the
Equity Holders of the 58,862 318,951 -81.55
Company
Net Cash Generated
From Operating Activities 1,435,202 -906,818 258.27
Basic Earnings Per Share
0.07 0.37 -81.55
(RMB)
Diluted Earnings Per
0.07 0.37 -81.55
Share (RMB)
Weighted Average Return Down 2.15
0.57% 2.72%
on Equity Ratio percentage points
At the end of At the end of the
reporting period previous year Change (%)
Total Assets 23,668,970 23,396,529 1.16
Shareholders’ Equity
Attributable to the Equity 10,408,831 10,384,498 0.23
Holders of the Company
2.3 Shareholders and shareholding status
Total shareholders (as JMC had 20,943 shareholders, including 15,772 A-share holders, and 5,171 B-share
of June 30, 2018) holders.
Top ten shareholders
Shares
Shareholding Shares at Shares with
Shareholder Change due to
Shareholder Name Percentage the End of Trading
Type (+,-) mortgage
(%) Year Restriction
or frozen
Jiangling Motor State-owned
41.03 354,176,000 0 0 0
Holdings Co., Ltd. legal person
Ford Motor Company Foreign legal
32.00 276,228,394 0 0 0
person
China Securities
Other 2.72 23,458,066 0 0 0
Corporation Limited
Shanghai Automotive State-owned
1.51 13,019,610 0 0 0
Co., Ltd. Legal person
Harvest Environmental
Protection Low Carbon Other 0.98 8,465,988 277,005 0 0
Stock Investment Fund
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Central Huijin State-owned
0.83 7,186,600 0 0 0
Investment Ltd. legal person
JPMBLSA RE FTIF
Foreign legal
TEMPLETON CHINA 0.68 5,848,450 0 0 0
person
FUND GTI 5497
Foreign legal
GAOLING FUND,L.P. 0.63 5,453,086 0 0 0
person
National Social Security
Other 0.61 5,250,455 5,250,455 0 0
Fund 504 Portfolio
INVESCO FUNDS Foreign legal
0.58 5,035,746 0 0 0
SICAV person
Notes on association among above-mentioned shareholders None.
2.4 Change of controlling shareholders or actual controlling parties
Change of controlling shareholders
□Applicable √Not Applicable
There was no change of controlling shareholders during the reporting period.
Change of actual controlling parties
□Applicable √Not Applicable
There was no change of actual controlling parties during the reporting period.
Subsequent events
Jiangling Motor Holdings Co., Ltd. (hereinafter referred to as “JHC”), a
controlling shareholder of Jiangling Motors Co., Ltd. (hereinafter referred to as
“JMC” or “the Company”), has been divided and separated into the new
company, Nanchang Jiangling Investment Co., Ltd. (hereinafter referred to as
“JIC”) and Jiangling Motor Holdings Co., Ltd. (as an existing company). After
the separation, JHC intends to divide its hold 41.03% equity of JMC into the
new company, JIC, and therefore, the controlling shareholder of JMC will be
changed from JHC to JIC, but the actual controller of JMC remains
unchanged.
As of July 26, 2019, the 354,176,000 JMC shares, accounting for about 41.03%
of the total share capital of the Company, held by JHC, the former controlling
shareholder of the Company, have been transferred to JIC, and JHC no longer
held the shares of the Company. JIC holds 354,176.000 shares of the
Company, accounting for about 41.03% of the total share capital of the
Company, and becomes a controlling shareholder of the Company.
Shareholding relationship with JMC and the shareholders of JHC before and
after the separation are shown as follows:
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（1）Before the separation
Chongqing Changan Automobile Co., Ltd. JMCG
50% 50%
JHC
41.03%
JMC
（2）After the separation
Chongqing Changan Automobile Co., Ltd. JMCG
50% 50%
Nanchang Jiangling Investment Co., Ltd.
41.03%
JMC
2.5 Total shareholders and top ten shareholders holding preferred
shares
□Applicable √Not Applicable
There was no shareholder holding preferred shares during the reporting
period.
2.6 Company Bond
Whether the Company owns the corporate bond that is lists in the securities
exchange and undue or is not paid in full although it’s due?
□Yes √No
3. Management Discussions and Analysis
3.1 Summary
In 2019, China's economy has maintained a trend of overall stable and
progressive development. The main macroeconomic indicators reflected the
operation in a reasonable range, and the economic structure is constantly
being optimized and adjusted. Total sales volume was 12.32 million units,
decreased 12.40% compared with last year.
During the reporting period, to cope with more severe competition, more
stringent regulatory requirement and intensifying cost pressures, the Company
focused on quality improvement, new product development, operating cost
control and production efficiency enhancement. Simultaneously, the Company
introduced series of sales policy to respond the market risk. In the first half of
2019, JMC achieved sales volume of 136,643 units, decreased 7.27%
compared with last year, achieved revenue of RMB 13.72 billion, decreased
3.96% compared with last year, achieved net profit of RMB 59 million,
decreased 81.55% compared with last year. It mainly reflects: I. the volume
decrease of passenger vehicle in the interim period and the change of overall
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sales structure; II. Marketing expense increased to compete in the very
challenging market. III. Continued spending on new product and technology.
3.2 Matters related to financial statements
1 Explanation on the changes of accounting policy, accounting estimates,
estimation method compared with that of the last accounting period
□Applicable √Not Applicable
2 Cause and impacts of major accounting errors, and correction result
□Applicable √Not Applicable
3 Explanation on consolidated scope change compared with that of the last
accounting period
□Applicable √Not Applicable
Board of Directors
Jiangling Motors Corporation, Ltd.
August 29, 2019
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