Report for the Third Quarter of 2015 of Changchai Company, Limited
Changchai Company, Limited
Report for the Third Quarter of 2015
October 2015
1
Report for the Third Quarter of 2015 of Changchai Company, Limited
Section I. Important Reminders, Contents & Definition
The Board of Directors, the Supervisory Committee as well as all directors, supervisors and senior
management staff of Changchai Company, Limited (hereinafter referred to as “the Company”)
warrant that this report is factual, accurate and complete without any false record, misleading
statement or material omission. And they shall be jointly and severally liable for that.
All directors attended the board session for reviewing this report.
Mr. Xue Guojun, company principal, Mr. He Jianguang, chief of the accounting work, and Mr. Jiang
He, chief of the accounting organ (chief of accounting), hereby confirm that the Financial
Statements enclosed in this report are factual, accurate and complete.
This report is prepared in both Chinese and English. Should there be any discrepancy between the
two versions, the Chinese version shall prevail.
Section II. Financial Highlights & Change of Shareholders
I. Major accounting data and financial indexes
Does the Company adjust retrospectively or restate accounting data of previous years due to change of the
accounting policy or correction of any accounting error?
□ Yes √ No
30 Sept. 2015 31 Dec. 2014 Increase/decrease (%)
Total assets (RMB Yuan) 3,346,383,519.67 3,166,783,758.18 5.67%
Net assets attributable to
shareholders of the Company 1,970,007,385.88 1,936,936,835.27 1.71%
(RMB Yuan)
YoY increase/decrease YoY increase/decrease
Jul.-Sept. 2015 Jan.-Sept. 2015
(%) (%)
Operating revenues (RMB Yuan) 815,273,308.97 36.73% 2,175,169,209.66 12.35%
Net profit attributable to
shareholders of the Company 36,184,587.95 116.15% 73,747,987.13 44.48%
(RMB Yuan)
Net profit attributable to
shareholders of the Company after
35,546,486.10 128.87% 71,257,105.38 45.27%
extraordinary gains and losses
(RMB Yuan)
Net cash flows from operating
-- -- 95,644,083.47 ——
activities (RMB Yuan)
Basic EPS (RMB Yuan/share) 0.06 100.00% 0.13 44.44%
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Report for the Third Quarter of 2015 of Changchai Company, Limited
Diluted EPS (RMB Yuan/share) 0.06 100.00% 0.13 44.44%
Weighted average ROE 1.77% 0.86% 3.78% 1.02%
Items and amounts of extraordinary gains and losses
√Applicable □Inapplicable
Unit: RMB Yuan
Item Amount as of Jan.-Sept. 2015 Note
Gains/losses on the disposal of non-current assets (including the
60,283.84
offset part of the asset impairment provisions)
Government grants recognized in the current period, except for
those acquired in the ordinary course of business or granted at
5,649,480.22
certain quotas or amounts according to the government’s unified
standards
Capital occupation charges on non-financial enterprises that
1,042,635.82
recorded into current gains and losses
Gains and losses on change in fair value from tradable financial
assets and tradable financial liabilities, as well as investment
income from disposal of tradable financial assets and tradable
834,000.00
financial liabilities and financial assets available for sales except
for effective hedging related with normal businesses of the
Company
Other non-operating income and expenses than the above -4,583,881.87
Less: Income tax effects 522,620.67
Minority interests effects (after tax) -10,984.41
Total 2,490,881.75 --
Explain the reasons if the Company classifies an item as an extraordinary gain/loss according to the definition in
the Explanatory Announcement No. 1 on Information Disclosure for Companies Offering Their Securities to the
Public—Extraordinary Gains and Losses, or classifies any extraordinary gain/loss item mentioned in the said
explanatory announcement as a recurrent gain/loss item
□ Applicable √ Inapplicable
No such cases during the reporting period.
II. Total number of shareholders and shareholdings of the top ten shareholders at the
period-end
1. Total number of common shareholders and shareholdings of the top ten common shareholders at the
period-end
Unit: share
Total number of common shareholders at the period-end 61,219
Shareholdings of the top ten common shareholders
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Report for the Third Quarter of 2015 of Changchai Company, Limited
Shareholdin Number of Pledged or frozen shares
Nature of Number of the
Name of shareholder g percentage restricted shares Status of Number of
shareholder shares held
(%) held shares shares
State-owned Assets Supervision and
Administration Commission of On behalf of
30.43% 170,845,236
Changzhou Municipal People’s the State
Government
Domestic
Huang Lihou 1.02% 5,705,000
individual
Domestic
Ye Tingshe 0.78% 4,362,300
individual
Lhasa Ruida Investment Advisory
Other 0.69% 3,890,333
Management Co., Ltd.
CHINA SECURITIES FINANCE
Other 0.59% 3,305,900
CORPORATION LIMITED
Foreign
KGI ASIA LIMITED 0.57% 3,224,845
corporation
BNP PARIBAS WEALTH
Foreign
MANAGEMENT HONG KONG 0.55% 3,099,873
corporation
BRANCH
Domestic
Chen Jinhong 0.51% 2,849,100
individual
China Everbright Bank Co., Ltd. - UBS
SDIC Innovation Power Equity Other 0.44% 2,458,000
Securities Investment Fund
Domestic
Li Min 0.34% 1,918,950
individual
Shareholdings of the top ten non-restricted common shareholders
Number of non-restricted Type of shares
Name of shareholder common shares held at
Type Number
the period-end
State-owned Assets Supervision and Administration
Commission of Changzhou Municipal People’s 170,845,236 RMB ordinary share 170,845,236
Government
Huang Lihou 5,705,000 RMB ordinary share 5,705,000
Ye Tingshe 4,362,300 RMB ordinary share 4,362,300
Lhasa Ruida Investment Advisory Management Co., Ltd. 3,890,333 RMB ordinary share 3,890,333
CHINA SECURITIES FINANCE CORPORATION
3,305,900 RMB ordinary share 3,305,900
LIMITED
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Report for the Third Quarter of 2015 of Changchai Company, Limited
Domestically listed foreign
KGI ASIA LIMITED 3,224,845 3,224,845
share
BNP PARIBAS WEALTH MANAGEMENT HONG Domestically listed foreign
3,099,873 3,099,873
KONG BRANCH share
Chen Jinhong 2,849,100 RMB ordinary share 2,849,100
China Everbright Bank Co., Ltd. - UBS SDIC Innovation
2,458,000 RMB ordinary share 2,458,000
Power Equity Securities Investment Fund
Li Min 1,918,950 RMB ordinary share 1,918,950
It’s unknown whether there was any associated relationship among other
Explanation on associated relationship or persons acting shareholders of the top ten shareholders, or whether there is any
in concert among the above-mentioned shareholders action-in-concert among them regarding to Administrative Measures on
Changes in Holdings.
The shareholder, Huang Lihou hold 5,705,000 shares of the Company
through the securities ordinary account and the customer credit collateral
securities trading account with the shareholding proportion of 1.02%, of
which, owning to participating in the financing and securities loans
Explanation on the top 10 common shareholders
business during the reporting period, he hold 5,600,000 shares of the
participating in the financing and securities loans
Company through the customer credit collateral securities trading account
business (if any)
of Guotai Junan Co., Ltd. with the shareholding proportion of 1.00%. The
shareholder, Li Min hold 1,918,950 shares of the Company through the
customer credit collateral securities trading account of Guosen Securities
Co., Ltd. with the shareholding proportion of 0.34%.
Did any shareholder of the top 10 common shareholders and top 10 shareholders holding not subject to trading
moratorium the Company carries out an agreed buy-back in the reporting period?
□ Yes √ No
There was no shareholder of the top 10 common shareholders and top 10 shareholders holding not subject to
trading moratorium the Company carries out an agreed buy-back in the reporting period
2. Total number of preferred shareholders at the period-end and shareholdings of top 10 preferred
shareholders
□ Applicable √ Inapplicable
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Report for the Third Quarter of 2015 of Changchai Company, Limited
Section III. Significant Events
I. Major changes in main accounting statement items and financial indicators in the reporting
period, as well as reasons for the changes
√ Applicable □ Inapplicable
(1) Accounts receivable at the period-end increased by RMB 482.5145 million from the amount at the
year-beginning, an increase of 128.90%, mainly because destocking measures such as marketing enhancement
were taken to reduce the inventories for product upgrade.
(2) Prepayments at the period-end decreased by RMB 8.4595 million from the amount at the year-beginning, a
decrease of 56.05%, mainly because we reduced the prepayments to our suppliers to control the stock.
(3) Other receivables at the period-end increased by RMB 8.8694 million from the amount at the year-beginning,
an increase of 102.39%, mainly because of the money on call from subsidiary Housheng Investment to Xuzhou
East China Foundry General Factory, etc.
(4) Inventories at the period-end decreased by RMB 244.6116 million from the amount at the year-beginning, a
decrease of 49.16%, mainly because we enhanced sales to meet customers’ needs.
(5) Payroll payable at the period-end decreased by RMB 29.7223 million from the amount at the year-beginning, a
decrease of 48.48%, mainly because the salary and bonus provisions made in the last period were partially paid in
the current period.
(6) Taxes and fares payable at the period-end increased by RMB 30.5937 million from the amount at the
year-beginning, an increase of 210.82%, mainly because the VAT payable increased as the sales income increased.
(7) Other payables at the period-end increased by RMB 95.6121 million from the amount at the year-beginning,
an increase of 48.64%, mainly because the selling concessions, discounts and allowances increased as the sales
income increased.
(8) Asset impairment losses in the reporting period increased by RMB 14.2784 million from the amount in the
same period of last year, an increase of 698.67%, mainly because ordinary bad-debt provisions increased as
accounts receivable increased.
(9) Net profits attributable to the owners of the Company in the reporting period increased by RMB 22.7041
million from the amount in the same period of last year, an increase of 44.48%, mainly because destocking
measures such as marketing enhancement were taken, resulting in a significant increase in the sales income and
profits, with a larger proportion of multi-cylinder diesel engines in the total sales income; meanwhile, the gross
profits increased as a result of the falling prices of raw and auxiliary materials as well as our excellent cost
control.
II. Progress of significant events and analysis & explanations on their influence and solutions
□ Applicable √ Inapplicable
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Report for the Third Quarter of 2015 of Changchai Company, Limited
III. Commitments made by the Company or any shareholder with a shareholding over 5% in
the reporting period or such commitments made in previous period and carried down into the
reporting period
√ Applicable □ Inapplicable
Commitment Time of making Period of
Commitment Contents Fulfillment
maker commitment commitment
Commitment on share
reform
Commitment in the
acquisition report or the
report on equity changes
Commitments made upon
the assets reorganization
Commitments made upon
IPO or refinancing
1. Committed not to decrease the
shareholding of the stocks of “Su
Changchai A” within 6 months
since 10 Jul. 2015 and to
maintain the market stabilization
by practical action as well as to
practically protect the interests of
the investors. The
2. According to the market shareholding
State-owned situation, within the allowable increase
Assets range of the laws and regulations, commitment
Supervision and committed to contribute of had completed
Other commitments made to Administration RMB20 million for increasing the 10 Jul. 2015 to 9 the execution
10 Jul. 2015
minority shareholders Commission of shareholding of the stocks of “Su Jan. 2016 before 27 Aug.
Changzhou Changchai A” in the appropriate 2015 while the
Municipal time within 6 months since 10 not-decreasing
Government Jul. 2015, to prove the firm commitment
confidence of the China economy was under
as well as the Changchai progress.
Company, Limited by practical
actions, and to commonly
maintain the favorable
development of the capital
market as well as to promote the
market to recover to the healthy
and stable state.
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Report for the Third Quarter of 2015 of Changchai Company, Limited
3. Continue to support the
development of the operation of
Changchai Company, Limited as
always, to enhance the
achievement of the Company and
to pay back the investors with
stable and real performance.
Executed timely or not? Yes
IV. Predict the 2015 annual operating results
Warnings of possible loss or large-margin change of the accumulated net profit made during the period from the
beginning of the year to the end of the next reporting period compared with the same period of the last year
according to prediction, as well as explanations on the reasons
□Applicable √Inapplicable
V. Securities investment
□Applicable √Inapplicable
The Company did not invest in any securities in the reporting period.
VI. Shareholdings in other listed companies
√Applicable □Inapplicable
At the end of the reporting period, we held 72.25 million “Foton Motor” shares and 50,000 “Ninghu Expressway”
shares measured as available-for-sale financial assets.
VII. Investments in derivatives
□Applicable √Inapplicable
The Company did not invest in any derivative in the reporting period.
VIII. Researches, visits and interviews received in the reporting period
√Applicable □Inapplicable
Way of Main discussion and materials
Time Place Visitor type Visitor
reception provided by the Company
The Shenzhen Stock
Individual Future development direction of
20 Sep. 2015 Exchange Interaction Other Individual
investor Company's technology product
Platform
The Shenzhen Stock
Individual Progress of state-owned
9 Sep.2015 Exchange Interaction Other Individual
investor enterprise reform
Platform
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Report for the Third Quarter of 2015 of Changchai Company, Limited
The Shenzhen Stock
Individual Relevant situation of the
19 Aug. 2015 Exchange Interaction Other Individual
investor Company’s financial assets
Platform
The Shenzhen Stock
Individual Suggestion to the future
26 Jul. 2015 Exchange Interaction Other Individual
investor development of the Company
Platform
The Shenzhen Stock Situation of the Company’s
Individual
7 Jul. 2015 Exchange Interaction Other Individual participation in refinancing
investor
Platform business
The Shenzhen Stock
Individual The sale of the Company’s
6 Jul. 2015 Exchange Interaction Other Individual
investor multi-cylinder diesel engine
Platform
The Shenzhen Stock
Individual Strategy of the future
1 Jul. 2015 Exchange Interaction Other Individual
investor development of the Company
Platform
The Shenzhen Stock Progress of the Company’s
Individual
25 Jun. 2015 Exchange Interaction Other Individual implementation of major national
investor
Platform projects
The Shenzhen Stock
Individual The planning situation of the
23 Jun. 2015 Exchange Interaction Other Individual
investor Company’s power industrial park
Platform
The Shenzhen Stock
Individual Numbers of the shareholders in
15 Jun. 2015 Exchange Interaction Other Individual
investor the Company
Platform
The Shenzhen Stock
Individual Situation of the Company’s share
15 Jun. 2015 Exchange Interaction Other Individual
investor holding of JSBC
Platform
The Shenzhen Stock
Individual The planning situation of the
3 Jun. 2015 Exchange Interaction Other Individual
investor Company’s power industrial park
Platform
The Shenzhen Stock
Individual Plan of the future development of
26 May 2015 Exchange Interaction Other Individual
investor the Company
Platform
The Shenzhen Stock
Individual Numbers of the shareholders in
25 May 2015 Exchange Interaction Other Individual
investor the Company
Platform
The Shenzhen Stock
Individual Situation of the products of the
24 May 2015 Exchange Interaction Other Individual
investor Company
Platform
19 May 2015 The Shenzhen Stock Other Individual Individual Numbers of the shareholders in
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Report for the Third Quarter of 2015 of Changchai Company, Limited
Exchange Interaction investor the Company
Platform
Situation of the Company’s
The Shenzhen Stock
Individual participation company Qinghua
9 May 2015 Exchange Interaction Other Individual
investor Xingye Investment Management
Platform
Co., Ltd.
The Shenzhen Stock
Individual Plan of the future development of
5 May 2015 Exchange Interaction Other Individual
investor the Company
Platform
The Shenzhen Stock
Individual Plan of the future development of
4 May 2015 Exchange Interaction Other Individual
investor the Company
Platform
The Shenzhen Stock
Individual Whether the Company
29 May 2015 Exchange Interaction Other Individual
investor recombination
Platform
The Shenzhen Stock
Individual Plan of the future development of
28 Apr. 2015 Exchange Interaction Other Individual
investor the Company
Platform
The Shenzhen Stock Situation of state-owned
Individual
28 Apr. 2015 Exchange Interaction Other Individual enterprise reform and
investor
Platform shareholding by the employees
The Shenzhen Stock
Individual The sale of the Company’s
28 Apr. 2015 Exchange Interaction Other Individual
investor multi-cylinder diesel engine
Platform
The Shenzhen Stock
Individual The planning situation of the
16 Apr. 2015 Exchange Interaction Other Individual
investor Company’s power industrial park
Platform
The Shenzhen Stock
Individual The planning situation of the
15 Apr. 2015 Exchange Interaction Other Individual
investor Company’s power industrial park
Platform
The Shenzhen Stock
Individual Numbers of the shareholders in
15 Apr. 2015 Exchange Interaction Other Individual
investor the Company
Platform
The Shenzhen Stock
Individual Plan of the future development of
15 Apr. 2015 Exchange Interaction Other Individual
investor the Company
Platform
The Shenzhen Stock
Individual The future development of the
26 Mar. 2015 Exchange Interaction Other Individual
investor Company
Platform
23 Mar. 2015 The Shenzhen Stock Other Individual Individual The future development of the
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Report for the Third Quarter of 2015 of Changchai Company, Limited
Exchange Interaction investor Company
Platform
The Shenzhen Stock
Individual The future development of the
22 Mar. 2015 Exchange Interaction Other Individual
investor Company
Platform
The Shenzhen Stock
Individual Trend of stock prices of the
16 Mar. 2015 Exchange Interaction Other Individual
investor Company
Platform
The Shenzhen Stock
Individual Situation of the network of the
15 Mar. 2015 Exchange Interaction Other Individual
investor Company
Platform
The Shenzhen Stock
Individual The future development of the
12 Mar. 2015 Exchange Interaction Other Individual
investor Company
Platform
The Shenzhen Stock
Individual The future development of the
12 Mar. 2015 Exchange Interaction Other Individual
investor Company
Platform
The Shenzhen Stock
Individual Situation of the Company’s new
12 Mar. 2015 Exchange Interaction Other Individual
investor independent directors
Platform
The Shenzhen Stock
Individual Situation of mixed ownership
8 Mar. 2015 Exchange Interaction Other Individual
investor reform of the Company
Platform
The Shenzhen Stock
Individual Situation of agricultural
1 Mar. 2015 Exchange Interaction Other Individual
investor informatization
Platform
The Shenzhen Stock
Individual Situation of the Company’s
27 Feb. 2015 Exchange Interaction Other Individual
investor oversea co-operation
Platform
The Shenzhen Stock
Individual Situation of the Company’s
27 Feb. 2015 Exchange Interaction Other Individual
investor oversea co-operation
Platform
The Shenzhen Stock
Individual Situation of mixed ownership
25 Feb. 2015 Exchange Interaction Other Individual
investor reform of the Company
Platform
The Shenzhen Stock
Individual Relevant situation of the products
16 Feb. 2015 Exchange Interaction Other Individual
investor of the Company
Platform
The Shenzhen Stock Individual Numbers of the shareholders in
9 Feb. 2015 Other Individual
Exchange Interaction investor the Company
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Report for the Third Quarter of 2015 of Changchai Company, Limited
Platform
The Shenzhen Stock
Individual Situation of state-owned
21 Jan. 2015 Exchange Interaction Other Individual
investor enterprise reform
Platform
The Shenzhen Stock
Individual
19 Jan. 2015 Exchange Interaction Other Individual Agricultural Modernization
investor
Platform
The Shenzhen Stock
Individual Trend of stock prices of the
14 Jan. 2015 Exchange Interaction Other Individual
investor Company
Platform
The Shenzhen Stock
Individual Situation of the shareholders in
13 Jan. 2015 Exchange Interaction Other Individual
investor the Company
Platform
The Shenzhen Stock
Individual Situation of the shareholders in
12 Jan. 2015 Exchange Interaction Other Individual
investor the Company
Platform
The Shenzhen Stock
Individual Situation of the shareholders in
1 Jan. 2015 Exchange Interaction Other Individual
investor the Company
Platform
IX. Provision of guarantees in violation of regulations
□ Applicable √ Inapplicable
No such cases in the reporting period.
X. Occupation of the Company’s funds by the controlling shareholder or its related parties
for non-operating purposes
□ Applicable √ Inapplicable
No such cases in the reporting period.
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Report for the Third Quarter of 2015 of Changchai Company, Limited
Section IV. Financial Statements
I. Financial statements
1. Consolidated balance sheet
Prepared by Changchai Company, Limited
Unit: RMB Yuan
Item Closing balance Opening balance
Current assets:
Monetary funds 532,678,107.85 531,969,747.91
Settlement reserves
Intra-group lendings
Financial assets measured at fair value of which changes are
10,000,000.00 2,109,642.19
recorded in current profits and losses
Derivative financial assets
Notes receivable 314,712,499.71 314,236,128.92
Accounts receivable 856,849,871.48 374,335,355.22
Accounts paid in advance 6,633,401.43 15,092,855.36
Premiums receivable
Reinsurance premiums receivable
Receivable reinsurance contract reserves
Interest receivable
Dividend receivable
Other accounts receivable 17,532,083.59 8,662,701.30
Financial assets purchased under agreements to resell
Inventories 252,977,151.95 497,588,717.86
Assets held for sale
Non-current assets due within 1 year
Other current assets 31,187,462.66 31,729,042.18
Total current assets 2,022,570,578.67 1,775,724,190.94
Non-current assets:
Loans by mandate and advances granted
Available-for-sale financial assets 463,203,000.00 497,850,000.00
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Report for the Third Quarter of 2015 of Changchai Company, Limited
Held-to-maturity investments
Long-term accounts receivable
Long-term equity investment 20,731,651.34 20,459,975.99
Investing real estate 57,833,115.23 59,489,370.83
Fixed assets 576,493,471.60 572,785,946.61
Construction in progress 101,519,937.54 134,948,317.87
Engineering materials
Disposal of fixed assets
Production biological assets
Oil-gas assets
Intangible assets 102,946,901.97 104,441,092.62
R&D expense
Goodwill
Long-term deferred expenses
Deferred income tax assets 1,084,863.32 1,084,863.32
Other non-current assets
Total of non-current assets 1,323,812,941.00 1,391,059,567.24
Total assets 3,346,383,519.67 3,166,783,758.18
Current liabilities:
Short-term borrowings 12,000,000.00 20,000,000.00
Borrowings from the Central Bank
Customer bank deposits and due to banks and other financial
institutions
Intra-group borrowings
Financial liabilities measured at fair value of which changes are
recorded in current profits and losses
Derivative financial liabilities
Notes payable 231,650,000.00 218,351,400.00
Accounts payable 596,102,133.80 550,858,517.60
Accounts received in advance 32,878,076.16 29,364,756.16
Financial assets sold and repurchased
Handling charges and commissions payable
Payroll payable 31,581,419.72 61,303,762.60
Tax payable 45,105,675.93 14,511,976.27
Interest payable
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Report for the Third Quarter of 2015 of Changchai Company, Limited
Dividend payable 3,891,433.83 3,891,433.83
Other accounts payable 292,172,968.85 196,560,865.32
Reinsurance premiums payable
Insurance contract reserves
Payables for acting trading of securities
Payables for acting underwriting of securities
Liabilities held for sale
Non-current liabilities due within 1 year
Other current liabilities 3,451,374.99 2,992,996.74
Total current liabilities 1,248,833,083.28 1,097,835,708.52
Non-current liabilities:
Long-term borrowings
Bonds payable
Of which: preference shares
Perpetual bonds
Long-term payables
Long-term payroll payables
Specific payables
Estimated liabilities
Deferred income 53,686,499.10 54,185,979.32
Deferred income tax liabilities 56,419,275.00 61,616,325.00
Other non-current liabilities
Total non-current liabilities 110,105,774.10 115,802,304.32
Total liabilities 1,358,938,857.38 1,213,638,012.84
Owners’ equity:
Share capital 561,374,326.00 561,374,326.00
Other equity instruments
Of which: preference shares
Perpetual bonds
Capital reserves 164,328,665.43 164,328,665.43
Less: Treasury stock
Other comprehensive income 319,709,225.00 349,159,175.00
Specific reserves 8,332,077.21 8,332,077.21
Surplus reserves 298,151,696.96 298,151,696.96
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Report for the Third Quarter of 2015 of Changchai Company, Limited
Provisions for general risks
Retained profits 618,111,395.28 555,590,894.67
Total equity attributable to owners of the Company 1,970,007,385.88 1,936,936,835.27
Minority interests 17,437,276.41 16,208,910.07
Total owners’ equity 1,987,444,662.29 1,953,145,745.34
Total liabilities and owners’ equity 3,346,383,519.67 3,166,783,758.18
Legal representative: Xue Guojun Chief of the accounting work: He Jianguang Chief of the
accounting organ: Jiang He
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Report for the Third Quarter of 2015 of Changchai Company, Limited
2. Balance sheet of the Company
Unit: RMB Yuan
Item Closing balance Opening balance
Current assets:
Monetary funds 526,140,931.90 494,366,603.39
Financial assets measured at fair value of which changes are
recorded in current profits and losses
Derivative financial assets
Notes receivable 314,662,499.71 312,466,128.92
Accounts receivable 811,766,087.22 331,239,446.99
Accounts paid in advance 3,075,301.85 10,139,747.15
Interest receivable
Dividend receivable
Other accounts receivable 3,518,988.71 5,712,047.44
Inventories 205,829,409.24 426,235,429.74
Assets held for sale
Non-current assets due within 1 year
Other current assets 20,000,000.00 20,637,141.03
Total current assets 1,884,993,218.63 1,600,796,544.66
Non-current assets:
Available-for-sale financial assets 456,003,000.00 490,650,000.00
Held-to-maturity investments
Long-term accounts receivable
Long-term equity investment 205,198,151.34 204,926,475.99
Investing real estate 57,833,115.23 59,489,370.83
Fixed assets 465,044,028.04 454,717,057.95
Construction in progress 101,496,176.86 134,948,317.87
Engineering materials
Disposal of fixed assets
Production biological assets
Oil-gas assets
Intangible assets 80,859,016.97 81,914,372.57
R&D expense
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Report for the Third Quarter of 2015 of Changchai Company, Limited
Goodwill
Long-term deferred expenses
Deferred income tax assets 1,084,863.32 1,084,863.32
Other non-current assets
Total of non-current assets 1,367,518,351.76 1,427,730,458.53
Total assets 3,252,511,570.39 3,028,527,003.19
Current liabilities:
Short-term borrowings
Financial liabilities measured at fair value of which changes are
recorded in current profits and losses
Derivative financial liabilities
Notes payable 231,650,000.00 206,351,400.00
Accounts payable 559,939,559.10 501,904,239.41
Accounts received in advance 64,390,150.22 37,247,846.51
Payroll payable 27,707,772.19 56,426,935.61
Tax payable 37,868,975.48 12,438,714.42
Interest payable
Dividend payable 3,243,179.97 3,243,179.97
Other accounts payable 280,662,307.40 191,066,117.22
Liabilities held for sale
Non-current liabilities due within 1 year
Other current liabilities
Total current liabilities 1,205,461,944.36 1,008,678,433.14
Non-current liabilities:
Long-term borrowings
Bonds payable
Of which: preference shares
Perpetual bonds
Long-term payables
Long-term payroll payables
Specific payables
Estimated liabilities
Deferred income 53,686,499.10 54,185,979.32
Deferred income tax liabilities 56,419,275.00 61,616,325.00
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Report for the Third Quarter of 2015 of Changchai Company, Limited
Other non-current liabilities
Total non-current liabilities 110,105,774.10 115,802,304.32
Total liabilities 1,315,567,718.46 1,124,480,737.46
Owners’ equity:
Share capital 561,374,326.00 561,374,326.00
Other equity instruments
Of which: preference shares
Perpetual bonds
Capital reserves 183,071,147.70 183,071,147.70
Less: Treasury stock
Other comprehensive income 319,709,225.00 349,159,175.00
Specific reserves 8,332,077.21 8,332,077.21
Surplus reserves 298,151,696.96 298,151,696.96
Retained profits 566,305,379.06 503,957,842.86
Total owners’ equity 1,936,943,851.93 1,904,046,265.73
Total liabilities and owners’ equity 3,252,511,570.39 3,028,527,003.19
Legal representative: Xue Guojun Chief of the accounting work: He Jianguang
Chief of the accounting organ: Jiang He
3. Consolidated income statement for the reporting period
Unit: RMB Yuan
Item Jul.-Sept. 2015 Jul.-Sept. 2014
I. Operating revenues 815,273,308.97 596,251,102.70
Including: Sales income 815,273,308.97 596,251,102.70
Interest income
Premium income
Handling charge and commission income
II. Operating costs 774,219,303.45 583,601,181.96
Including: Cost of sales 693,638,845.88 516,155,740.49
Interest expenses
Handling charge and commission expenses
Surrenders
Net claims paid
19
Report for the Third Quarter of 2015 of Changchai Company, Limited
Net amount withdrawn for the insurance contract reserve
Expenditure on policy dividends
Reinsurance premium
Taxes and associate charges 563,797.34 262,580.46
Selling and distribution expenses 30,732,717.78 29,413,885.37
Administrative expenses 40,783,750.57 37,416,496.91
Financial expenses -5,054,282.87 -1,047,390.27
Asset impairment loss 13,554,474.75 1,399,869.00
Add: Gain/(loss) from change in fair value (“-” means loss)
Gain/(loss) from investment (“-” means loss) 3,987,809.68 7,852,349.51
Including: share of profits in associates and joint ventures
Foreign exchange gains (“-” means loss)
III. Business profit (“-” means loss) 45,041,815.20 20,502,270.25
Add: non-operating income 3,706,277.10 710,371.45
Including: Gains on disposal of non-current assets
Less: non-operating expense 3,411,848.65 1,069,978.47
Including: Losses on disposal of non-current assets
IV. Total profit (“-” means loss) 45,336,243.65 20,142,663.23
Less: Income tax expense 8,577,332.74 3,228,271.47
V. Net profit (“-” means loss) 36,758,910.91 16,914,391.76
Net profit attributable to owners of the Company 36,184,587.95 16,740,470.13
Minority shareholders’ income 574,322.96 173,921.63
VI. After-tax net amount of other comprehensive incomes -192,578,275.00 39,997,744.67
After-tax net amount of other comprehensive incomes attributable
-192,578,275.00 39,997,744.67
to owners of the Company
(I) Other comprehensive incomes that will not be reclassified
into gains and losses
1. Changes in net liabilities or assets with a defined benefit
plan upon re-measurement
2. Enjoyable shares in other comprehensive incomes in
investees that cannot be reclassified into gains and losses under the
equity method
(II) Other comprehensive incomes that will be reclassified into
-192,578,275.00 39,997,744.67
gains and losses
1. Enjoyable shares in other comprehensive incomes in
investees that will be reclassified into gains and losses under the equity
20
Report for the Third Quarter of 2015 of Changchai Company, Limited
method
2. Gains and losses on fair value changes of
-192,578,275.00 39,997,744.67
available-for-sale financial assets
3. Gains and losses on reclassifying held-to-maturity
investments into available-for-sale financial assets
4. Effective hedging gains and losses on cash flows
5. Foreign-currency financial statement translation difference
6. Other
After-tax net amount of other comprehensive incomes attributable
to minority shareholders
VII. Total comprehensive incomes -155,819,364.09 56,912,136.43
Attributable to owners of the Company -156,393,687.05 56,738,214.80
Attributable to minority shareholders 574,322.96 173,921.63
VIII. Earnings per share
(I) Basic earnings per share 0.06 0.03
(II) Diluted earnings per share 0.06 0.03
Legal representative: Xue Guojun Chief of the accounting work: He Jianguang
Chief of the accounting organ: Jiang He
21
Report for the Third Quarter of 2015 of Changchai Company, Limited
4. Income statement of the Company for the reporting period
Unit: RMB Yuan
Item Jul.-Sept. 2015 Jul.-Sept. 2014
I. Total sales 817,184,146.88 601,452,898.73
Less: cost of sales 705,546,162.78 556,307,945.22
Business taxes and surcharges 366,089.65 0.00
Distribution expenses 25,077,177.08 28,600,872.12
Administrative expenses 37,405,232.36 33,247,390.37
Financial costs -5,340,820.47 -1,450,261.90
Impairment loss 13,554,474.75 1,399,869.00
Add: gain/(loss) from change in fair value (“-” means loss)
Gain/(loss) from investment (“-” means loss) 3,501,904.83 6,215,908.66
Including: income from investment on associates and joint
ventures
II. Business profit (“-” means loss) 44,077,735.56 19,562,992.58
Add: non-operating income 3,499,082.46 534,059.39
Including: Gains on disposal of non-current assets
Less: non-operating expense 3,362,572.28 1,038,571.44
Including: Losses on disposal of non-current assets
III. Total profit (“-” means loss) 44,214,245.74 19,058,480.53
Less: Income tax expense 8,206,775.79 3,035,821.48
IV. Net profit (“-” means loss) 36,007,469.95 16,022,659.05
V. After-tax net amount of other comprehensive incomes -192,578,275.00 39,968,762.75
(I) Other comprehensive incomes that will not be reclassified into
gains and losses
1. Changes in net liabilities or assets with a defined benefit plan
upon re-measurement
2. Enjoyable shares in other comprehensive incomes in investees
that cannot be reclassified into gains and losses under the equity
method
(II) Other comprehensive incomes that will be reclassified into gains
-192,578,275.00 39,968,762.75
and losses
1. Enjoyable shares in other comprehensive incomes in investees
that will be reclassified into gains and losses under the equity method
2. Gains and losses on fair value changes of available-for-sale -192,578,275.00 39,968,762.75
22
Report for the Third Quarter of 2015 of Changchai Company, Limited
financial assets
3. Gains and losses on reclassifying held-to-maturity investments
into available-for-sale financial assets
4. Effective hedging gains and losses on cash flows
5. Foreign-currency financial statement translation difference
6. Other
VI. Total comprehensive incomes -156,570,805.05 55,991,421.80
VII. Earnings per share
(I) Basic earnings per share 0.06 0.03
(II) Diluted earnings per share 0.06 0.03
Legal representative: Xue Guojun Chief of the accounting work: He Jianguang
Chief of the accounting organ: Jiang He
5. Consolidated income statement for Jan.-Sept. 2015
Unit: RMB Yuan
Item Jan.-Sept. 2015 Jan.-Sept. 2014
I. Operating revenues 2,175,169,209.66 1,936,127,304.42
Including: Sales income 2,175,169,209.66 1,936,127,304.42
Interest income
Premium income
Handling charge and commission income
II. Operating costs 2,094,126,375.43 1,884,318,838.47
Including: Cost of sales 1,872,711,948.61 1,681,640,499.12
Interest expenses
Handling charge and commission expenses
Surrenders
Net claims paid
Net amount withdrawn for the insurance contract reserve
Expenditure on policy dividends
Reinsurance premium
Taxes and associate charges 2,843,809.77 577,867.86
Selling and distribution expenses 88,791,816.70 87,937,699.44
Administrative expenses 125,184,774.75 120,299,073.75
23
Report for the Third Quarter of 2015 of Changchai Company, Limited
Financial expenses -11,727,986.61 -8,179,953.05
Asset impairment loss 16,322,012.21 2,043,651.35
Add: Gain/(loss) from change in fair value (“-” means loss) 0.00 0.00
Gain/(loss) from investment (“-” means loss) 8,888,413.12 9,325,019.68
Including: share of profits in associates and joint ventures
Foreign exchange gains (“-” means loss)
III. Business profit (“-” means loss) 89,931,247.35 61,133,485.63
Add: non-operating income 7,370,389.00 7,928,834.07
Including: Gains on disposal of non-current assets
Less: non-operating expense 6,244,506.81 6,675,426.07
Including: Losses on disposal of non-current assets 14,758.29 61,479.60
IV. Total profit (“-” means loss) 91,057,129.54 62,386,893.63
Less: Income tax expense 16,080,776.07 10,322,416.53
V. Net profit (“-” means loss) 74,976,353.47 52,064,477.10
Net profit attributable to owners of the Company 73,747,987.13 51,043,900.62
Minority shareholders’ income 1,228,366.34 1,020,576.48
VI. After-tax net amount of other comprehensive incomes -34,647,000.00 40,033,793.42
After-tax net amount of other comprehensive incomes attributable
-34,647,000.00 40,033,793.42
to owners of the Company
(I) Other comprehensive incomes that will not be reclassified
into gains and losses
1. Changes in net liabilities or assets with a defined benefit
plan upon re-measurement
2. Enjoyable shares in other comprehensive incomes in
investees that cannot be reclassified into gains and losses under the
equity method
(II) Other comprehensive incomes that will be reclassified into
-34,647,000.00 40,033,793.42
gains and losses
1. Enjoyable shares in other comprehensive incomes in
investees that will be reclassified into gains and losses under the equity
method
2. Gains and losses on fair value changes of
-34,647,000.00 40,033,793.42
available-for-sale financial assets
3. Gains and losses on reclassifying held-to-maturity
investments into available-for-sale financial assets
4. Effective hedging gains and losses on cash flows
24
Report for the Third Quarter of 2015 of Changchai Company, Limited
5. Foreign-currency financial statement translation difference
6. Other
After-tax net amount of other comprehensive incomes attributable
to minority shareholders
VII. Total comprehensive incomes 40,329,353.47 92,098,270.52
Attributable to owners of the Company 39,100,987.13 91,077,694.04
Attributable to minority shareholders 1,228,366.34 1,020,576.48
VIII. Earnings per share
(I) Basic earnings per share 0.13 0.09
(II) Diluted earnings per share 0.13 0.09
Legal representative: Xue Guojun Chief of the accounting work: He Jianguang
Chief of the accounting organ: Jiang He
25
Report for the Third Quarter of 2015 of Changchai Company, Limited
6. Income statement of the Company for Jan.-Sept. 2015
Unit: RMB Yuan
Item Jan.-Sept. 2015 Jan.-Sept. 2014
I. Total sales 2,188,415,911.23 1,956,450,412.84
Less: cost of sales 1,905,887,198.60 1,718,726,671.54
Business taxes and surcharges 2,458,335.46 0.00
Distribution expenses 80,828,891.79 84,281,274.85
Administrative expenses 114,270,739.10 108,652,824.64
Financial costs -12,780,416.48 -10,240,790.06
Impairment loss 16,322,012.21 2,043,651.35
Add: gain/(loss) from change in fair value (“-” means loss)
Gain/(loss) from investment (“-” means loss) 7,011,777.30 9,276,302.33
Including: income from investment on associates and joint
ventures
II. Business profit (“-” means loss) 88,440,927.85 62,263,082.85
Add: non-operating income 6,551,363.13 6,750,419.19
Including: Gains on disposal of non-current assets
Less: non-operating expense 6,162,644.65 6,597,872.75
Including: Losses on disposal of non-current assets 14,758.29 61,479.60
III. Total profit (“-” means loss) 88,829,646.33 62,415,629.29
Less: Income tax expense 15,254,623.61 9,568,892.09
IV. Net profit (“-” means loss) 73,575,022.72 52,846,737.20
V. After-tax net amount of other comprehensive incomes -34,647,000.00 39,967,062.75
(I) Other comprehensive incomes that will not be reclassified into
gains and losses
1. Changes in net liabilities or assets with a defined benefit plan
upon re-measurement
2. Enjoyable shares in other comprehensive incomes in investees
that cannot be reclassified into gains and losses under the equity
method
(II) Other comprehensive incomes that will be reclassified into gains
-34,647,000.00 39,967,062.75
and losses
1. Enjoyable shares in other comprehensive incomes in investees
that will be reclassified into gains and losses under the equity method
2. Gains and losses on fair value changes of available-for-sale -34,647,000.00 39,967,062.75
26
Report for the Third Quarter of 2015 of Changchai Company, Limited
financial assets
3. Gains and losses on reclassifying held-to-maturity investments
into available-for-sale financial assets
4. Effective hedging gains and losses on cash flows
5. Foreign-currency financial statement translation difference
6. Other
VI. Total comprehensive incomes 38,928,022.72 92,813,799.95
VII. Earnings per share
(I) Basic earnings per share 0.13 0.09
(II) Diluted earnings per share 0.13 0.09
Legal representative: Xue Guojun Chief of the accounting work: He Jianguang
Chief of the accounting organ: Jiang He
7. Consolidated cash flow statement for Jan.-Sept. 2015
Unit: RMB Yuan
Item Jan.-Sept. 2015 Jan.-Sept. 2014
I. Cash flows from operating activities:
Cash received from sale of commodities and rendering of service 1,984,543,237.07 1,957,387,089.38
Net increase of deposits from customers and dues from banks
Net increase of loans from the central bank
Net increase of funds borrowed from other financial institutions
Cash received from premium of original insurance contracts
Net cash received from reinsurance business
Net increase of deposits of policy holders and investment fund
Net increase of disposal of financial assets measured at fair value of
which changes are recorded into current gains and losses
Cash received from interest, handling charges and commissions
Net increase of intra-group borrowings
Net increase of funds in repurchase business
Tax refunds received 17,902,474.19 27,929,664.35
Other cash received relating to operating activities 12,526,725.39 22,276,735.86
Subtotal of cash inflows from operating activities 2,014,972,436.65 2,007,593,489.59
Cash paid for goods and services 1,573,265,648.42 1,795,061,598.18
Net increase of customer lendings and advances
27
Report for the Third Quarter of 2015 of Changchai Company, Limited
Net increase of funds deposited in the central bank and amount due
from banks
Cash for paying claims of the original insurance contracts
Cash for paying interest, handling charges and commissions
Cash for paying policy dividends
Cash paid to and for employees 228,131,676.49 198,752,708.68
Various taxes paid 59,653,475.56 39,705,485.13
Other cash payment relating to operating activities 58,277,552.71 50,256,156.25
Subtotal of cash outflows from operating activities 1,919,328,353.18 2,083,775,948.24
Net cash flows from operating activities 95,644,083.47 -76,182,458.65
II. Cash flows from investing activities:
Cash received from withdrawal of investments 2,109,642.19
Cash received from return on investments 7,782,737.77 7,423,437.46
Net cash received from disposal of fixed assets, intangible assets and
283,604.57 253,982.43
other long-term assets
Net cash received from disposal of subsidiaries or other business
0.00 1,027,642.33
units
Other cash received relating to investing activities 0.00 1,500,000.00
Subtotal of cash inflows from investing activities 10,175,984.53 10,205,062.22
Cash paid to acquire fixed assets, intangible assets and other
46,939,756.27 75,880,276.25
long-term assets
Cash paid for investment 20,000,000.00
Net increase of pledged loans
Net cash paid to acquire subsidiaries and other business units 0.00 23,850,000.00
Other cash payments relating to investing activities 23,000,000.00 14,500,000.00
Subtotal of cash outflows from investing activities 89,939,756.27 114,230,276.25
Net cash flows from investing activities -79,763,771.74 -104,025,214.03
III. Cash Flows from Financing Activities:
Cash received from capital contributions
Including: Cash received from minority shareholder investments by
subsidiaries
Cash received from borrowings 12,000,000.00 20,000,000.00
Cash received from issuance of bonds
Other cash received relating to financing activities 4,046.87
Subtotal of cash inflows from financing activities 12,004,046.87 20,000,000.00
28
Report for the Third Quarter of 2015 of Changchai Company, Limited
Repayment of borrowings 20,000,000.00 30,000,000.00
Cash paid for interest expenses and distribution of dividends or
12,344,836.73 9,329,628.74
profit
Including: dividends or profit paid by subsidiaries to minority
553,400.00
shareholders
Other cash payments relating to financing activities
Sub-total of cash outflows from financing activities 32,344,836.73 39,329,628.74
Net cash flows from financing activities -20,340,789.86 -19,329,628.74
IV. Effect of foreign exchange rate changes on cash and cash
equivalents
V. Net increase in cash and cash equivalents -4,460,478.13 -199,537,301.42
Add: Opening balance of cash and cash equivalents 464,761,820.50 610,882,216.18
VI. Closing balance of cash and cash equivalents 460,301,342.37 411,344,914.76
Legal representative: Xue Guojun Chief of the accounting work: He Jianguang
Chief of the accounting organ: Jiang He
29
Report for the Third Quarter of 2015 of Changchai Company, Limited
8. Cash flow statement of the Company for Jan.-Sept. 2015
Unit: RMB Yuan
Item Jan.-Sept. 2015 Jan.-Sept. 2014
I. Cash flows from operating activities:
Cash received from sale of commodities and rendering of service 2,000,329,758.45 1,976,754,861.03
Tax refunds received 17,902,474.19 27,929,664.35
Other cash received relating to operating activities 10,273,377.45 19,897,990.45
Subtotal of cash inflows from operating activities 2,028,505,610.09 2,024,582,515.83
Cash paid for goods and services 1,621,637,795.69 1,859,470,070.77
Cash paid to and for employees 204,419,916.17 183,443,698.38
Various taxes paid 55,166,479.12 32,335,971.13
Other cash payment relating to operating activities 55,229,062.40 44,244,209.96
Subtotal of cash outflows from operating activities 1,936,453,253.38 2,119,493,950.24
Net cash flows from operating activities 92,052,356.71 -94,911,434.41
II. Cash flows from investing activities:
Cash received from withdrawal of investments
Cash received from return on investments 6,740,101.95 9,527,100.00
Net cash received from disposal of fixed assets, intangible assets and
106,674.57 253,982.43
other long-term assets
Net cash received from disposal of subsidiaries or other business
1,027,642.33
units
Other cash received relating to investing activities
Subtotal of cash inflows from investing activities 6,846,776.52 10,808,724.76
Cash paid to acquire fixed assets, intangible assets and other
44,666,156.27 69,850,240.35
long-term assets
Cash paid for investment 20,000,000.00
Net cash paid to acquire subsidiaries and other business units 0.00 24,626,700.00
Other cash payments relating to investing activities
Subtotal of cash outflows from investing activities 64,666,156.27 94,476,940.35
Net cash flows from investing activities -57,819,379.75 -83,668,215.59
III. Cash Flows from Financing Activities:
Cash received from capital contributions
Cash received from borrowings
Cash received from issuance of bonds
30
Report for the Third Quarter of 2015 of Changchai Company, Limited
Other cash received relating to financing activities
Subtotal of cash inflows from financing activities
Repayment of borrowings
Cash paid for interest expenses and distribution of dividends or
11,227,486.52 8,420,614.89
profit
Other cash payments relating to financing activities 0.00
Sub-total of cash outflows from financing activities 11,227,486.52 8,420,614.89
Net cash flows from financing activities -11,227,486.52 -8,420,614.89
IV. Effect of foreign exchange rate changes on cash and cash
equivalents
V. Net increase in cash and cash equivalents 23,005,490.44 -187,000,264.89
Add: Opening balance of cash and cash equivalents 430,758,675.98 574,440,388.77
VI. Closing balance of cash and cash equivalents 453,764,166.42 387,440,123.88
Legal representative: Xue Guojun Chief of the accounting work: He Jianguang
Chief of the accounting organ: Jiang He
II. Auditor’s report
Is this report audited?
□ Yes √ No
This report is not audited.
31
