Changchai Company, Limited Third Quarter Report 2019
CHANGCHAI COMPANY, LIMITED
THIRD QUARTER REPORT 2019
October 2019
1
Changchai Company, Limited Third Quarter Report 2019
Part I Important Notes
The Board of Directors (or the “Board”), the Supervisory Committee as well as the directors,
supervisors and senior management of Changchai Company, Limited (together with its
consolidated subsidiaries, the “Company”, except where the context otherwise requires)
hereby guarantee the factuality, accuracy and completeness of the contents of this Report and
its summary, and shall be jointly and severally liable for any misrepresentations, misleading
statements or material omissions therein.
All the Company’s directors have attended the Board meeting for the review of this Report
and its summary.
Shi Xinkun, the Company’s legal representative, Zhang Xin, the Company’s General Manager,
and Jiang He, head of the Company’s financial department (equivalent to financial manager)
hereby guarantee that the financial statements carried in this Report are factual, accurate and
complete.
This Report and its summary have been prepared in both Chinese and English. Should there
be any discrepancies or misunderstandings between the two versions, the Chinese versions
shall prevail.
2
Changchai Company, Limited Third Quarter Report 2019
Part II Key Corporate Information
I Key Consolidated Financial Information
Indicate by tick mark whether there is any retrospectively restated datum in the table below.
□ Yes √ No
30 September 2019 31 December 2018 Change (%)
Total assets (RMB) 3,498,167,449.23 3,542,019,195.75 -1.24%
Equity attributable to the listed company’s
2,080,307,118.49 2,043,308,026.74 1.81%
shareholders (RMB)
YoY change YoY change
Q3 2019 Q1-Q3 2019
(%) (%)
Operating revenue (RMB) 460,579,449.28 6.47% 1,576,409,294.87 -2.65%
Net profit attributable to the listed
950,668.62 -79.65% 20,008,693.69 -14.16%
company’s shareholders (RMB)
Net profit attributable to the listed
company’s shareholders before 197,704.53 -- 14,424,860.12 27.87%
exceptional items (RMB)
Net cash generated from/used in
-- -- -177,873,130.52 --
operating activities (RMB)
Basic earnings per share (RMB/share) 0.01 0.00% 0.04 0.00%
Diluted earnings per share
0.01 0.00% 0.04 0.00%
(RMB/share)
Weighted average return on equity (%) 0.05% -0.17% 1.02% -0.03%
Exceptional gains and losses:
√ Applicable □ Not applicable
Unit: RMB
Item Q1-Q3 2019 Note
Gain/Loss arising from disposal of non-current assets (inclusive of impairment
1,024,006.08
allowance write-offs)
Government subsidies recognized in the current period, except for those acquired in
the ordinary course of business or granted at certain quotas or amounts according to 326,259.20
the government’s unified standards
Gain/Loss on changes in fair value arising from holding of trading financial assets
and liabilities, derivative financial assets and liabilities and investment income from
337,630.60
disposal of trading financial assets and liabilities, derivative financial assets and
liabilities and other investments in debt obligation other than effective hedge
3
Changchai Company, Limited Third Quarter Report 2019
business related to the Company’s normal operating businesses
Reversed portions of impairment allowances for loan by mandate which are tested
4,000,000.00
individually for impairment
Other non-operating income and expense other than the above 732,475.63
Less: Income tax effects 843,914.88
Non-controlling interests effects (after tax) -7,376.94
Total 5,583,833.57 --
Explanation of why the Company reclassifies as recurrent an exceptional gain/loss item defined or listed in the
Explanatory Announcement No. 1 on Information Disclosure for Companies Offering Their Securities to the
Public—Exceptional Gain/Loss Items:
□ Applicable √ Not applicable
II Total Number of Shareholders and Holdings of Top 10 Shareholders at 30 September 2019
1. Numbers of Ordinary Shareholders and Preferred Shareholders with Resumed Voting Rights as well as
Holdings of Top 10 Shareholders
Unit: share
Number of preferred shareholders with
Number of ordinary shareholders 51,028 0
resumed voting rights (if any)
Top 10 shareholders
Shares in
Sharehol pledge or
Restri
Nature of ding Number of frozen
Name of shareholder cted
shareholder percenta shares Sh
shares Sta
ge are
tus
s
CHANGZHOU INVESTMENT GROUP State-owned
30.43% 170,845,236
CO., LTD legal person
CHINA CITIC BANK CORPORATION
LIMITED-CCB CHINA SECURITIES 500
Other 0.76% 4,254,122
INDEX ENHANCED SECURITIES
INVESTMENT FUND
Foreign legal
KGI ASIA LIMITED 0.57% 3,189,845
person
Domestic
LEI YANQIN 0.36% 2,019,946
natural person
Domestic
GAO FENHUAI 0.33% 1,873,800
natural person
4
Changchai Company, Limited Third Quarter Report 2019
Domestic
HU WENYONG 0.28% 1,545,266
natural person
Domestic
HUANG GUOLIANG 0.27% 1,528,891
natural person
Domestic
LI SUINAN 0.27% 1,507,800
natural person
Domestic
XUE HONG 0.23% 1,290,900
natural person
Domestic
ZHOU YONG 0.22% 1,250,000
natural person
Top 10 unrestricted shareholders
Unrestricted Shares by type
Name of shareholder
shares Type Shares
RMB-denominated
CHANGZHOU INVESTMENT GROUP CO., LTD 170,845,236 170,845,236
ordinary stock
CHINA CITIC BANK CORPORATION
RMB-denominated
LIMITED-CCB CHINA SECURITIES 500 INDEX 4,254,122 4,254,122
ordinary stock
ENHANCED SECURITIES INVESTMENT FUND
Domestically listed
KGI ASIA LIMITED 3,189,845 3,189,845
foreign stock
RMB-denominated
LEI YANQIN 2,019,946 2,019,946
ordinary stock
RMB-denominated
GAO FENHUAI 1,873,800 1,873,800
ordinary stock
Domestically listed
HU WENYONG 1,545,266 1,545,266
foreign stock
Domestically listed
HUANG GUOLIANG 1,528,891 1,528,891
foreign stock
Domestically listed
LI SUINAN 1,507,800 1,507,800
foreign stock
Domestically listed
XUE HONG 1,290,900 1,290,900
foreign stock
RMB-denominated
ZHOU YONG 1,250,000 1,250,000
ordinary stock
It is unknown whether there is among the top 10 public shareholders
Related or acting-in-concert parties and the top 10 unrestricted public shareholders any related parties or
among the shareholders above acting-in-concert parties as defined in the Administrative Measures for
Information Regarding Shareholding Alteration.
5
Changchai Company, Limited Third Quarter Report 2019
Top 10 ordinary shareholders
involved in securities margin trading N/A
(if any)
Indicate by tick mark whether any of the top 10 ordinary shareholders or the top 10 unrestricted ordinary
shareholders of the Company conducted any promissory repo during the Reporting Period.
□ Yes √ No
No such cases in the Reporting Period.
2. Number of Preferred Shareholders and Shareholdings of Top 10 of Them
□ Applicable √ Not applicable
6
Changchai Company, Limited Third Quarter Report 2019
Part III Significant Events
I Changes in Key Consolidated Financial Statement Line Items and Explanation of why
√ Applicable □ Not applicable
1. Consolidated Balance Sheet Items as at 30 September 2019
Item 30 September 31 December 2018
Change (%) Explanation of why
2019 (RMB) (RMB)
Accounts receivable 813,510,517.41 378,859,159.11 114.73%Accounts receivable as at 30
September 2019 rose 114.73% from
the amount as at 31 December 2018,
because during Q1~Q3 2019, credit
sale was properly carried out to
extend market space, and most
multi-cylinder engine customers
were supporting manufacturers for
bigger enterprises, which means
relatively long account ages for the
Company.
Other current assets 15,813,912.76 34,357,608.97 -53.97%Decrease in overpaid VAT
Advance payment 64,895,163.52 34,500,232.97 88.10%The increase of the company's
advance payment.
Payroll payable 12,826,072.56 50,500,592.99 Salaries and bonuses accrued in the
nine months ended 30 September
-74.60%
2018 were paid in the corresponding
period of the current year.
Tax payable 3,867,390.55 7,066,085.89 -45.27%Mainly for the changes of sales and
profit, as well as the impact of the
national tax reduction policy.
The non-current 0.00 18,500,000.00 -100.00%The company repaid the due
liabilities due within non-current liabilities of RMB
one year 18,500,000.00 during the reporting
period..
Long-term loan 0.00 2,000,000.00 -100.00%The company repaid the long-term
loan of RMB 2,000,000.00 during
the reporting period in advance.
2. Consolidated Income Statement Items for Q1~Q3 2019
7
Changchai Company, Limited Third Quarter Report 2019
Q1~Q3 2018
Item Q1~Q3 2019 (RMB) Change (%) Explanation of why
(RMB)
Research and 49,515,164.09 36,524,504.36 35.57% some r&d projects used more r&d
development costs funds.
Asset impairment 26,096.43 -2,531,847.48 -- Allowances for doubtful accounts
loss receivable recorded based on aging
led to an increase in asset
impairment loss, while the
collection of entrusted loans with
full-amount impairment allowances
resulted in writedowns in this item.
Non-operating 961,235.14 2,830,716.11 -66.04% More government subsidies.
income
Non-operating 233,654.06 1,698,515.85 -86.24% The large loss of dull materials
expenses disposed in the previous period.
The income tax -2,232,431.33 5,079,513.44 -- The company received a total of
expense 6,700,210.88 yuan of corporate
income tax refund in the final
settlement of 2018 in June 2019.
Other 30,999,075.00 -144,235,225.00 -- Significant increase in gains on fair
comprehensive value changes of investments in
income, net of tax other equity instruments.
3. Consolidated Cash Flow Statement Items for Q1~Q3 2019
Q1~Q3 2019 Q1~Q3 2018
Item Change (%) Explanation of why
(RMB) (RMB)
Net cash generated -177,873,130.52 -54,251,797.59 -- Increase in accounts receivable.
from/used in
operating activities
Net cash generated -64,901,304.94 -23,421,616.03 -- The investment of 50 million yuan
from/used in to Jiangsu Housheng New Energy
investing activities Technology co., LTD.
Net cash generated -44,353,925.59 -16,892,465.30 -- Mainly for the company repaid part
from/used in of the bank debt.
financing activities
II Progress, Influence and Solutions with regard to Significant Events
□ Applicable √ Not applicable
8
Changchai Company, Limited Third Quarter Report 2019
Progress of any share repurchase:
□ Applicable √ Not applicable
Progress of any reduction of the repurchased shares through centralized bidding:
□ Applicable √ Not applicable
III Commitments that the Company’s Actual Controller, Shareholders, Related Parties,
Acquirers, the Company Itself or Other Parties, Failed to Fulfill on Time during the
Reporting Period
√ Applicable □ Not applicable
Perio
Type Date of
d of
Commitm of commit Fulfill
Commitment Contents com
ent maker commi ment ment
mitm
tment making
ent
Rewards Plan for Shareholders in Next
Three Years(2017-2019)
Under the premise of positive distributive
profit (remaining after-tax profits after
making up for the loss and extracting for
the common reserves) in this year or half
Other year and abundant money flow and no Imple
Changcha
commitments influence on the following-up going Year ment
i 11 May
made to Bonus concern after cash bonus, the profits 2017- in a
Company, 2017
minority allocated by cash every year shouldn’t be 2019 norma
Limited
shareholders lower than 10% of the allocable profits
l way
from parent company. Meanwhile, the
accumulated allocable profits by cash in
the arbitrary continuous three accounting
years should not be lower than 30% of the
annual average allocable profits in those
three years.
Fulfilled on time Yes
When the commitment was not
completely fulfilled at maturity, the
N/A
specific reasons and following work
plan shall be given
IV Securities Investments
□ Applicable √ Not applicable
No such cases in the Reporting Period.
9
Changchai Company, Limited Third Quarter Report 2019
V Wealth Management Entrustment
√ Applicable □ Not applicable
Unit: RMB’0,000 (in RMB ten thousand yuan)
Outstanding
Type of wealth
Funding source Principal amount before Overdue amount
management
maturity
Wealth
management
product purchased Self-funded 1000 1000 0
from securities
company
Total 1000 1000 0
High-risk wealth management entrustments with amounts that are individually significant, or with low security,
low liquidity, or no protection of the principal:
□ Applicable √ Not applicable
Wealth management entrustments with possible impairments including an expectedly unrecoverable principal:
□ Applicable √ Not applicable
VI Investments in Derivative Financial Instruments
□ Applicable √ Not applicable
No such cases in the Reporting Period.
VII Visits Paid to the Company for Purposes of Research, Communication, Interview, etc.
during Reporting Period
√ Applicable □ Not applicable
Date of visit Way of visit Type of visitor About
17 September 2019 Other Individual Tax rebate of the corporate income tax
Number of shareholders of the
11 September 2019 Other Individual
Company
5 September 2019 Other Individual Agricultural machinery industry policy
Development state of the agricultural
5 September 2019 Other Individual
machinery industry
Transformation and upgrading of the
5 September 2019 Other Individual
Company
Development program of the
5 September 2019 Other Individual
Company
30 August 2019 Other Individual The Company’ investment in the
10
Changchai Company, Limited Third Quarter Report 2019
project of Housheng lithium battery
The Company’ investment in the
6 August 2019 Other Individual
project of Housheng lithium battery
The purchase for relocation of the
29 July 2019 Other Individual
Company
The relocation schedule of the
28 July 2019 Other Individual
Company
The relocation schedule of the
28 July 2019 Other Individual
Company
Transformation and upgrading of the
10 July 2019 Other Individual
Company
The Company’ investment in the
4 July 2019 Other Individual
project of Housheng lithium battery
1 July 2019 Other Individual Product rage of the Company
VIII Irregularities in the Provision of Guarantees
□ Applicable √ Not applicable
No such cases in the Reporting Period.
IX Occupation of the Company’s Capital by the Controlling Shareholder or Its Related
Parties for Non-Operating Purposes
□ Applicable √ Not applicable
No such cases in the Reporting Period.
11
Changchai Company, Limited Third Quarter Report 2019
Part IV Financial Statements
I Financial Statements
1. Consolidated Balance Sheet
Prepared by Changchai Company, Limited
30 September 2019
Unit: RMB
30 September 31 December
Item
2019 2018
Current assets:
Monetary capital 532,068,642.57 800,960,036.69
Settlement reserve
Interbank loans granted
Trading financial assets
Financial assets at fair value through profit or loss
Derivative financial assets
Notes receivable 374,709,812.25 495,370,782.47
Accounts receivable 813,510,517.41 378,859,159.11
Accounts receivable financing
Prepayments 15,664,279.74 11,352,297.10
Premiums receivable
Reinsurance receivables
Receivable reinsurance contract reserve
Other receivables 9,078,508.78 9,244,584.42
Including: Interest receivable
Dividends receivable
Financial assets purchased under resale agreements
Inventories 465,692,034.05 557,953,891.70
Contractual assets
Assets classified as held for sale
Current portion of non-current assets
Other current assets 15,813,912.76 34,357,608.97
12
Changchai Company, Limited Third Quarter Report 2019
Total current assets 2,226,537,707.56 2,288,098,360.46
Non-current assets:
Loans and advances to customers
Investments in debt obligations
Available-for-sale financial assets 0.00 498,851,369.49
Investments in other debt obligations
Held-to-maturity investments
Long-term receivables
Long-term equity investments 0.00
Investments in other equity instruments 585,459,311.25
Other non-current financial assets
Investment property 48,999,752.03 50,656,007.63
Fixed assets 470,100,999.47 511,250,371.37
Construction in progress 66,051,324.92 89,090,384.71
Productive living assets
Oil and gas assets
Right-of-use assets
Intangible assets 100,038,531.29 103,092,879.38
R&D expense
Goodwill
Long-term prepaid expense
Deferred income tax assets 979,822.71 979,822.71
Other non-current assets 0.00
Total non-current assets 1,271,629,741.67 1,253,920,835.29
Total assets 3,498,167,449.23 3,542,019,195.75
Current liabilities:
Short-term borrowings 22,000,000.00 27,000,000.00
Borrowings from central bank
Interbank loans obtained
Trading financial liabilities
Financial liabilities at fair value through profit or loss
Derivative financial liabilities
Notes payable 417,176,000.00 438,375,400.00
Accounts payable 524,853,934.94 591,754,875.77
13
Changchai Company, Limited Third Quarter Report 2019
Advances from customers 64,895,163.52 34,500,232.97
Contractual liabilities
Financial assets sold under repurchase agreements
Customer deposits and interbank deposits
Payables for acting trading of securities
Payables for underwriting of securities
Payroll payable 12,826,072.56 50,500,592.99
Taxes payable 3,867,390.55 7,066,085.89
Other payables 236,797,366.66 199,412,250.90
Including: Interest payable
Dividends payable 3,891,433.83 3,891,433.83
Handling charges and commissions payable
Reinsurance payables
Liabilities directly associated with assets classified as held for sale
Current portion of non-current liabilities 18,500,000.00
Other current liabilities 2,548,235.52 2,082,985.18
Total current liabilities 1,284,964,163.75 1,369,192,423.70
Non-current liabilities:
Insurance contract reserve
Long-term borrowings 2,000,000.00
Bonds payable
Including: Preferred shares
Perpetual bonds
Lease liabilities
Long-term payables
Long-term payroll payable
Provisions
Deferred income 59,928,484.84 59,928,484.84
Deferred income tax liabilities 53,300,187.69 47,971,780.36
Other non-current liabilities
Total non-current liabilities 113,228,672.53 109,900,265.20
Total liabilities 1,398,192,836.28 1,479,092,688.90
Owners’ equity:
Share capital 561,374,326.00 561,374,326.00
14
Changchai Company, Limited Third Quarter Report 2019
Other equity instruments
Including: Preferred shares
Perpetual bonds
Capital reserves 164,328,665.43 164,328,665.43
Less: Treasury stock
Other comprehensive income 295,404,750.00 264,405,675.00
Specific reserve 15,182,958.83 15,182,958.83
Surplus reserves 320,133,050.15 320,133,050.15
General reserve
Retained earnings 723,883,368.08 717,883,351.33
Total equity attributable to owners of the Company as the parent 2,080,307,118.49 2,043,308,026.74
Non-controlling interests 19,667,494.46 19,618,480.11
Total owners’ equity 2,099,974,612.95 2,062,926,506.85
Total liabilities and owners’ equity 3,498,167,449.23 3,542,019,195.75
Legal representative: Shi Xinkun General manager: Zhang Xin
Head of the Company’s financial department: Jiang He
15
Changchai Company, Limited Third Quarter Report 2019
2. Balance Sheet of the Company as the Parent
Unit: RMB
30 September 31 December
Item
2019 2018
Current assets:
Monetary capital 491,145,212.15 759,404,219.72
Trading financial assets
Financial assets at fair value through profit or loss
Derivative financial assets
Notes receivable 371,544,812.25 490,519,795.91
Accounts receivable 731,237,909.37 300,357,283.81
Accounts receivable financing
Prepayments 5,764,253.12 4,768,038.11
Other receivables 22,280,624.02 21,681,331.85
Including: Interest receivable
Dividends receivable
Inventories 341,116,993.50 437,423,195.46
Contractual assets
Assets classified as held for sale
Current portion of non-current assets
Other current assets 1,347,082.79 23,099,858.67
Total current assets 1,964,436,887.20 2,037,253,723.53
Non-current assets:
Investments in debt obligations
Available-for-sale financial assets 0.00 470,940,000.00
Investments in other debt obligations
Held-to-maturity investments
Long-term receivables
Long-term equity investments 301,752,730.03 241,752,730.03
Investments in other equity instruments 507,409,500.00 0.00
Other non-current financial assets
Investment property 48,999,752.03 50,656,007.63
Fixed assets 380,190,310.84 413,186,680.19
16
Changchai Company, Limited Third Quarter Report 2019
Construction in progress 63,953,756.12 87,007,215.91
Productive living assets
Oil and gas assets
Right-of-use assets
Intangible assets 71,044,474.74 72,184,608.63
R&D expense
Goodwill
Long-term prepaid expense
Deferred income tax assets 930,641.19 930,641.19
Other non-current assets
Total non-current assets 1,374,281,164.95 1,336,657,883.58
Total assets 3,338,718,052.15 3,373,911,607.11
Current liabilities:
Short-term borrowings 5,000,000.00 10,000,000.00
Trading financial liabilities
Financial liabilities at fair value through profit or loss
Derivative financial liabilities
Notes payable 405,116,000.00 425,995,400.00
Accounts payable 497,566,271.13 561,555,397.44
Advances from customers 62,723,784.88 32,072,387.55
Contractual liabilities
Payroll payable 5,663,233.97 43,597,759.22
Taxes payable 1,060,847.79 2,443,767.89
Other payables 226,984,452.30 185,022,961.56
Including: Interest payable
Dividends payable 3,243,179.97 3,243,179.97
Liabilities directly associated with assets classified as held for sale
Current portion of non-current liabilities 18,500,000.00
Other current liabilities
Total current liabilities 1,204,114,590.07 1,279,187,673.66
Non-current liabilities:
Long-term borrowings
Bonds payable
Including: Preferred shares
17
Changchai Company, Limited Third Quarter Report 2019
Perpetual bonds
Lease liabilities
Long-term payables
Long-term payroll payable
Provisions
Deferred income 59,928,484.84 59,928,484.84
Deferred income tax liabilities 52,130,250.00 46,659,825.00
Other non-current liabilities
Total non-current liabilities 112,058,734.84 106,588,309.84
Total liabilities 1,316,173,324.91 1,385,775,983.50
Owners’ equity:
Share capital 561,374,326.00 561,374,326.00
Other equity instruments
Including: Preferred shares
Perpetual bonds
Capital reserves 183,071,147.70 183,071,147.70
Less: Treasury stock
Other comprehensive income 295,404,750.00 264,405,675.00
Specific reserve 15,182,958.83 15,182,958.83
Surplus reserves 320,133,050.15 320,133,050.15
Retained earnings 647,378,494.56 643,968,465.93
Total owners’ equity 2,022,544,727.24 1,988,135,623.61
Total liabilities and owners’ equity 3,338,718,052.15 3,373,911,607.11
Legal representative: Shi Xinkun General manager: Zhang Xin
Head of the Company’s financial department: Jiang He
18
Changchai Company, Limited Third Quarter Report 2019
3. Consolidated Income Statement
Unit: RMB
Item Q3 2019 Q3 2018
1. Revenue 460,579,449.28 432,605,495.58
Including: Operating revenue 460,579,449.28 432,605,495.58
Interest income
Premium income
Handling charge and commission income
2. Costs and expenses 465,423,303.87 447,865,887.95
Including: Cost of sales 389,380,663.04 368,800,817.45
Interest expense
Handling charge and commission expense
Surrenders
Net claims paid
Net amount provided as policy reserve
Expenditure on policy dividends
Reinsurance premium expense
Taxes and surcharges 754,800.30 3,622,252.63
Selling expense 37,273,069.65 41,800,679.58
Administrative expense 22,124,400.48 21,842,985.31
R&D expense 19,450,880.63 15,978,761.69
Finance costs -3,560,510.23 -4,179,608.71
Including: Interest expense 2,277,728.34 740,882.96
Interest income 1,620,732.15 682,638.32
Add: Other income 196,959.20
Investment income (“-” for loss) 6,275,331.91 7,677,178.18
Including: Share of profit or loss of joint ventures and associates
Derecognition income of financial assets measured at amortized
cost
Foreign exchange gain (“-” for loss)
Net gain on exposure hedges (“-” for loss)
Gain on changes in fair value (“-” for loss)
Credit impairment loss (“-” for loss) -325,681.21
Asset impairment loss (“-” for loss) 12,489,304.22
19
Changchai Company, Limited Third Quarter Report 2019
Asset disposal income (“-” for loss) 35,470.13
3. Operating profit (“-” for loss) 1,338,225.44 4,906,090.03
Add: Non-operating income 394,303.76 727,633.08
Less: Non-operating expense 15,816.08 171,349.64
4. Profit before tax (“-” for loss) 1,716,713.12 5,462,373.47
Less: Income tax expense 766,044.50 726,986.79
5. Net profit (“-” for net loss) 950,668.62 4,735,386.68
5.1 By operating continuity
5.1.1 Net profit from continuing operations (“-” for net loss) 950,668.62 4,735,386.68
5.1.2 Net profit from discontinued operations (“-” for net loss)
5.2 By ownership
5.2.1 Net profit attributable to owners of the Company as the parent 950,668.62 4,670,842.38
5.2.2 Net profit attributable to non-controlling interests 64,544.30
6. Other comprehensive income, net of tax -56,331,625.00 -18,037,000.00
Attributable to owners of the Company as the parent -56,331,625.00 -18,037,000.00
6.1 Items that will not be reclassified to profit or loss -56,331,625.00
6.1.1 Changes caused by remeasurements on defined benefit
pension schemes
6.1.2 Other comprehensive income that will not be reclassified to
profit or loss under the equity method
6.1.3 Changes in the fair value of investments in other equity
-56,331,625.00
instruments
6.1.4 Changes in the fair value of the company’s credit risks
6.1.5 Other
6.2 Items that will be reclassified to profit or loss -18,037,000.00
6.2.1 Other comprehensive income that will be reclassified to
profit or loss under the equity method
6.2.2 Changes in the fair value of investments in other debt
obligations
6.2.3 Gain/Loss on changes in the fair value of available-for-sale
-18,037,000.00
financial assets
6.2.4 Other comprehensive income arising from the
reclassification of financial assets
6.2.5 Gain/Loss arising from the reclassification of
held-to-maturity investments to available-for-sale financial assets
6.2.6 Allowance for credit impairments in investments in other
debt obligations
6.2.7 Reserve for cash flow hedges
20
Changchai Company, Limited Third Quarter Report 2019
6.2.8 Differences arising from the translation of foreign
currency-denominated financial statements
6.2.9 Other
Attributable to non-controlling interests
7. Total comprehensive income -55,380,956.38 -13,301,613.32
Attributable to owners of the Company as the parent -55,380,956.38 -13,366,157.62
Attributable to non-controlling interests 64,544.30
8. Earnings per share
8.1 Basic earnings per share 0.01 0.01
8.2 Diluted earnings per share 0.01 0.01
Legal representative: Shi Xinkun General manager: Zhang Xin
Head of the Company’s financial department: Jiang He
21
Changchai Company, Limited Third Quarter Report 2019
4. Income Statement of the Company as the Parent
Unit: RMB
Item Q3 2019 Q3 2018
1. Operating revenue 421,276,661.38 416,427,359.56
Less: Cost of sales 359,102,937.24 362,072,818.22
Taxes and surcharges 284,731.94 2,893,386.71
Selling expense 35,132,740.35 39,994,953.30
Administrative expense 18,782,065.04 17,353,285.58
R&D expense 18,913,412.83 15,978,761.69
Finance costs -3,838,154.82 -4,413,035.38
Including: Interest expense 2,245,294.98 768,546.57
Interest income 1,582,099.73 591,988.98
Add: Other income 196,959.20
Investment income (“-” for loss) 6,116,775.16 7,576,950.00
Including: Share of profit or loss of joint ventures and associates
Derecognition income of financial assets measured at amortized
cost
Net gain on exposure hedges (“-” for loss)
Gain on changes in fair value (“-” for loss)
Credit impairment loss (“-” for loss) -200,000.00
Asset impairment loss (“-” for loss) 12,556,816.51
Asset disposal income (“-” for loss) 35,470.13
2. Operating profit (“-” for loss) -951,866.71 2,680,955.95
Add: Non-operating income 90,530.00 344,083.46
Less: Non-operating expense 1,380.00 170,435.64
3. Profit before tax (“-” for loss) -862,716.71 2,854,603.77
Less: Income tax expense 80,572.15
4. Net profit (“-” for net loss) -943,288.86 2,854,603.77
4.1 Net profit from continuing operations (“-” for net loss) -943,288.86 2,854,603.77
4.2 Net profit from discontinued operations (“-” for net loss)
5. Other comprehensive income, net of tax -56,331,625.00 -18,037,000.00
5.1 Items that will not be reclassified to profit or loss -56,331,625.00
5.1.1 Changes caused by remeasurements on defined benefit pension
schemes
22
Changchai Company, Limited Third Quarter Report 2019
5.1.2 Other comprehensive income that will not be reclassified to
profit or loss under the equity method
5.1.3 Changes in the fair value of investments in other equity
-56,331,625.00
instruments
5.1.4 Changes in the fair value of the company’s credit risks
5.1.5 Other
5.2 Items that will be reclassified to profit or loss -18,037,000.00
5.2.1 Other comprehensive income that will be reclassified to profit
or loss under the equity method
5.2.2 Changes in the fair value of investments in other debt
obligations
5.2.3 Gain/Loss on changes in the fair value of available-for-sale
-18,037,000.00
financial assets
5.2.4 Other comprehensive income arising from the reclassification
of financial assets
5.2.5 Gain/Loss arising from the reclassification of held-to-maturity
investments to available-for-sale financial assets
5.2.6 Allowance for credit impairments in investments in other debt
obligations
5.2.7 Reserve for cash flow hedges
5.2.8 Differences arising from the translation of foreign
currency-denominated financial statements
5.2.9 Other
6. Total comprehensive income -57,274,913.86 -15,182,396.23
7. Earnings per share
7.1 Basic earnings per share
7.2 Diluted earnings per share
Legal representative: Shi Xinkun General manager: Zhang Xin
Head of the Company’s financial department: Jiang He
23
Changchai Company, Limited Third Quarter Report 2019
5. Consolidated Income Statement for Q1~Q3
Unit: RMB
Item Q1~Q3 2019 Q1~Q3 2018
1. Revenue 1,576,409,294.87 1,619,366,387.84
Including: Operating revenue 1,576,409,294.87 1,619,366,387.84
Interest income
Premium income
Handling charge and commission income
2. Operating costs and expenses 1,561,504,072.64 1,602,490,496.40
Including: Cost of sales 1,359,819,510.40 1,403,155,726.44
Interest expense
Handling charge and commission expense
Surrenders
Net claims paid
Net amount provided as insurance contract reserve
Expenditure on policy dividends
Reinsurance premium expense
Taxes and surcharges 5,752,156.03 9,361,725.89
Selling expense 95,531,468.63 94,028,755.44
Administrative expense 56,227,095.34 63,731,730.10
R&D expense 49,515,164.09 36,524,504.36
Finance costs -5,341,321.85 -4,311,945.83
Including: Interest expense 3,845,353.84 2,545,980.06
Interest income 3,262,988.18 1,574,301.49
Add: Other income 326,259.20 129,600.00
Investment income (“-” for loss) 6,454,405.76 8,053,269.86
Including: Share of profit or loss of joint ventures and
associates
Derecognition income of financial assets measured at amortized
cost
Foreign exchange gain (“-” for loss)
Net gain on exposure hedges (“-” for loss)
Gain on changes in fair value (“-” for loss)
Credit impairment loss (“-” for loss) -5,586,101.21
24
Changchai Company, Limited Third Quarter Report 2019
Asset impairment loss (“-” for loss) -26,096.43 2,531,847.48
Asset disposal income (“-” for loss) 1,024,006.08
3. Operating profit (“-” for loss) 17,097,695.63 27,590,608.78
Add: Non-operating income 961,235.14 2,830,716.11
Less: Non-operating expense 233,654.06 1,698,515.85
4. Profit before tax (“-” for loss) 17,825,276.71 28,722,809.04
Less: Income tax expense -2,232,431.33 5,079,513.44
5. Net profit (“-” for net loss) 20,057,708.04 23,643,295.60
5.1 By operating continuity
5.1.1 Net profit from continuing operations (“-” for net loss) 20,057,708.04 23,643,295.60
5.1.2 Net profit from discontinued operations (“-” for net loss)
5.2 By ownership
5.2.1 Net profit attributable to owners of the Company as the
20,008,693.69 23,309,400.04
parent
5.2.2 Net profit attributable to non-controlling interests 49,014.35 333,895.56
6. Other comprehensive income, net of tax 30,999,075.00 -144,235,225.00
Attributable to owners of the Company as the parent 30,999,075.00 -144,235,225.00
6.1 Items that will not be reclassified to profit or loss 30,999,075.00
6.1.1 Changes in net liabilities or assets caused by
remeasurements on defined benefit pension schemes
6.1.2 Share of other comprehensive income of investees that
will not be reclassified to profit or loss under equity method
6.1.3 Changes in the fair value of investments in other equity
30,999,075.00
instruments
6.1.4 Changes in the fair value of the company’s credit risks
6.1.5 Other
6.2 Items that may subsequently be reclassified to profit or loss -144,235,225.00
6.2.1 Share of other comprehensive income of investees that
will be reclassified to profit or loss under equity method
6.2.2 Changes in the fair value of investments in other debt
obligations
6.2.3 Gain/Loss on changes in the fair value of
-144,235,225.00
available-for-sale financial assets
6.2.4 Other comprehensive income arising from the
reclassification of financial assets
6.2.5 Gain/Loss arising from the reclassification of
held-to-maturity investments to available-for-sale financial assets
6.2.6 Allowance for credit impairments in investments in other
25
Changchai Company, Limited Third Quarter Report 2019
debt obligations
6.2.7 Reserve for cash flow hedges
6.2.8 Differences arising from the translation of foreign
currency-denominated financial statements
6.2.9 Other
Attributable to non-controlling interests
7. Total comprehensive income 51,056,783.04 -120,591,929.40
Attributable to owners of the Company as the parent 51,007,768.69 -120,925,824.96
Attributable to non-controlling interests 49,014.35 333,895.56
8. Earnings per share
8.1 Basic earnings per share 0.04 0.04
8.2 Diluted earnings per share 0.04 0.04
Legal representative: Shi Xinkun General manager: Zhang Xin
Head of the Company’s financial department: Jiang He
26
Changchai Company, Limited Third Quarter Report 2019
6. Income Statement of the Company as the Parent for Q1~Q3
Unit: RMB
Item Q1~Q3 2019 Q1~Q3 2018
1. Operating revenue 1,454,605,836.96 1,537,762,482.71
Less: Cost of sales 1,266,389,252.73 1,353,150,662.71
Taxes and surcharges 4,248,625.13 7,281,502.74
Selling expense 88,479,571.30 86,373,935.16
Administrative expense 44,258,430.92 50,165,905.14
R&D expense 46,805,098.25 36,524,504.36
Finance costs -6,848,347.17 -6,333,999.37
Including: Interest expense 3,559,655.48 2,380,867.34
Interest income 2,747,522.82 1,395,580.84
Add: Other income 326,259.20 129,600.00
Investment income (“-” for loss) 6,116,775.16 7,597,950.00
Including: Share of profit or loss of joint ventures and
associates
Derecognition income of financial assets measured at
amortized cost
Net gain on exposure hedges (“-” for loss)
Gain on changes in fair value (“-” for loss)
Credit impairment loss (“-” for loss) -5,460,420.00
Assets impairment loss (“-” for loss) -26,096.43 2,631,847.48
Asset disposal income (“-” for loss) 1,024,006.08
2. Operating profit (“-” for loss) 13,253,729.81 20,959,369.45
Add: Non-operating income 320,883.36 2,104,313.37
Less: Non-operating expense 168,334.64 1,695,773.85
3. Profit before tax (“-” for loss) 13,406,278.53 21,367,908.97
Less: Income tax expense -4,038,108.25 3,037,417.85
4. Net profit (“-” for net loss) 17,444,386.78 18,330,491.12
4.1 Net profit from continuing operations (“-” for net loss) 17,444,386.78 18,330,491.12
4.2 Net profit from discontinued operations (“-” for net loss)
5. Other comprehensive income, net of tax 30,999,075.00 -144,235,225.00
5.1 Items that will not be reclassified to profit or loss 30,999,075.00
5.1.1 Changes in net liabilities or assets caused by
27
Changchai Company, Limited Third Quarter Report 2019
remeasurements on defined benefit pension schemes
5.1.2 Other comprehensive income that will not be reclassified
to profit or loss under the equity method
5.1.3 Changes in the fair value of investments in other equity
30,999,075.00
instruments
5.1.4 Changes in the fair value of the company’s credit risks
5.1.5 Other
5.2 Items that may subsequently be reclassified to profit or loss -144,235,225.00
5.2.1 Share of other comprehensive income of investees that will
be reclassified to profit or loss under equity method
5.2.2 Changes in the fair value of investments in other debt
obligations
5.2.3 Gain/Loss on changes in the fair value of available-for-sale
-144,235,225.00
financial assets
5.2.4 Other comprehensive income arising from the
reclassification of financial assets
5.2.5 Gain/Loss arising from the reclassification of
held-to-maturity investments to available-for-sale financial assets
5.2.6 Allowance for credit impairments in investments in other
debt obligations
5.2.7 Reserve for cash flow hedges
5.2.8 Differences arising from the translation of foreign
currency-denominated financial statements
5.2.9 Other
6. Total comprehensive income 48,443,461.78 -125,904,733.88
7. Earnings per share
7.1 Basic earnings per share
7.2 Diluted earnings per share
Legal representative: Shi Xinkun General manager: Zhang Xin
Head of the Company’s financial department: Jiang He
28
Changchai Company, Limited Third Quarter Report 2019
7. Consolidated Cash Flow Statement for Q1~Q3
Unit: RMB
Item Q1~Q3 2019 Q1~Q3 2018
1. Cash flows from operating activities:
Proceeds from sale of commodities and rendering of services 1,359,318,699.75 1,502,082,934.17
Net increase in customer deposits and interbank deposits
Net increase in borrowings from the central bank
Net increase in loans from other financial institutions
Premiums received on original insurance contracts
Net proceeds from reinsurance
Net increase in deposits and investments of policy holders
Interest, handling charges and commissions received
Net increase in interbank loans obtained
Net increase in proceeds from repurchase transactions
Net proceeds from acting trading of securities
Tax rebates 23,791,753.91 39,981,450.76
Cash generated from other operating activities 11,459,085.79 9,176,454.39
Subtotal of cash generated from operating activities 1,394,569,539.45 1,551,240,839.32
Payments for commodities and services 1,266,094,750.13 1,302,400,952.42
Net increase in loans and advances to customers
Net increase in deposits in the central bank and in interbank loans
granted
Payments for claims on original insurance contracts
Net increase in interbank loans granted
Interest, handling charges and commissions paid
Policy dividends paid
Cash paid to and for employees 219,511,319.88 227,468,105.70
Taxes paid 20,471,465.12 21,038,574.94
Cash used in other operating activities 66,365,134.84 54,585,003.85
Subtotal of cash used in operating activities 1,572,442,669.97 1,605,492,636.91
Net cash generated from/used in operating activities -177,873,130.52 -54,251,797.59
2. Cash flows from investing activities:
Proceeds from disinvestment 14,000,000.00 23,459,682.03
Return on investment 6,454,405.76 8,053,269.86
29
Changchai Company, Limited Third Quarter Report 2019
Net proceeds from the disposal of fixed assets, intangible assets
1,040,506.08 295,880.71
and other long-lived assets
Net proceeds from the disposal of subsidiaries and other business
units
Cash generated from other investing activities
Subtotal of cash generated from investing activities 21,494,911.84 31,808,832.60
Payments for the acquisition of fixed assets, intangible assets and
16,257,775.02 27,248,307.93
other long-lived assets
Payments for investments 70,138,441.76
Net increase in pledged loans granted
Net payments for the acquisition of subsidiaries and other business
units
Cash used in other investing activities 27,982,140.70
Subtotal of cash used in investing activities 86,396,216.78 55,230,448.63
Net cash generated from/used in investing activities -64,901,304.94 -23,421,616.03
3. Cash flows from financing activities:
Capital contributions received
Including: Capital contributions by non-controlling interests to
subsidiaries
Borrowings obtained 19,000,000.00 17,000,000.00
Cash generated from other financing activities
Subtotal of cash generated from financing activities 19,000,000.00 17,000,000.00
Repayments of borrowings 44,500,000.00 15,400,000.00
Payments for interest and dividends 18,854,400.12 18,492,465.30
Including: Dividends paid by subsidiaries to non-controlling
interests
Cash used in other financing activities
Subtotal of cash used in financing activities 63,354,400.12 33,892,465.30
Net cash generated from/used in financing activities -44,354,400.12 -16,892,465.30
4. Effect of foreign exchange rate changes on cash and cash
equivalents
5. Net increase in cash and cash equivalents -287,128,835.58 -94,565,878.92
Add: Cash and cash equivalents, beginning of the period 687,079,639.59 325,263,654.43
6. Cash and cash equivalents, end of the period 399,950,804.01 230,697,775.51
Legal representative: Shi Xinkun General manager: Zhang Xin
Head of the Company’s financial department: Jiang He
30
Changchai Company, Limited Third Quarter Report 2019
8. Cash Flow Statement of the Company as the Parent for Q1~Q3
Unit: RMB
Item Q1~Q3 2019 Q1~Q3 2018
1. Cash flows from operating activities:
Proceeds from sale of commodities and rendering of services 1,175,685,236.64 1,415,048,015.22
Tax rebates 17,666,191.34 31,526,429.06
Cash generated from other operating activities 7,495,628.63 7,685,480.38
Subtotal of cash generated from operating activities 1,200,847,056.61 1,454,259,924.66
Payments for commodities and services 1,132,183,895.35 1,235,746,003.49
Cash paid to and for employees 183,902,068.67 198,291,459.90
Taxes paid 10,494,488.59 15,439,986.70
Cash used in other operating activities 50,986,232.72 51,499,872.31
Subtotal of cash used in operating activities 1,377,566,685.33 1,500,977,322.40
Net cash generated from/used in operating activities -176,719,628.72 -46,717,397.74
2. Cash flows from investing activities:
Proceeds from disinvestment
Return on investment 6,116,775.16 7,597,950.00
Net proceeds from the disposal of fixed assets, intangible assets
1,024,006.08 154,889.08
and other long-lived assets
Net proceeds from the disposal of subsidiaries and other business
units
Cash generated from other investing activities
Subtotal of cash generated from investing activities 7,140,781.24 7,752,839.08
Payments for the acquisition of fixed assets, intangible assets and
11,570,933.53 25,507,202.39
other long-lived assets
Payments for investments 60,000,000.00
Net payments for the acquisition of subsidiaries and other business
units
Cash used in other investing activities
Subtotal of cash used in investing activities 71,570,933.53 25,507,202.39
Net cash generated from/used in investing activities -64,430,152.29 -17,754,363.31
3. Cash flows from financing activities:
Capital contributions received
Borrowings obtained 5,000,000.00 10,000,000.00
Cash generated from other financing activities
31
Changchai Company, Limited Third Quarter Report 2019
Subtotal of cash generated from financing activities 5,000,000.00 10,000,000.00
Repayments of borrowings 28,500,000.00 500,000.00
Payments for interest and dividends 17,594,013.63 17,852,241.03
Cash used in other financing activities
Subtotal of cash used in financing activities 46,094,013.63 18,352,241.03
Net cash generated from/used in financing activities -41,094,013.63 -8,352,241.03
4. Effect of foreign exchange rate changes on cash and cash
equivalents
5. Net increase in cash and cash equivalents -282,243,794.64 -72,824,002.08
Add: Cash and cash equivalents, beginning of the period 651,854,206.79 272,064,464.71
6. Cash and cash equivalents, end of the period 369,610,412.15 199,240,462.63
Legal representative: Shi Xinkun General manager: Zhang Xin
Head of the Company’s financial department: Jiang He
32
Changchai Company, Limited Third Quarter Report 2019
II Adjustments to the Financial Statements
1. Adjustments to the Financial Statements at the Beginning of the Execution of any New Standards
Governing Financial Instruments, Revenue or Leases from 2019
√ Applicable □ Not applicable
Consolidated balance sheet
Unit: RMB
Item 31 December 2018 1 January 2019 Adjustment
Current assets:
Monetary capital 800,960,036.69 800,960,036.69
Settlement reserve
Interbank loans granted
Trading financial assets
Financial assets at fair value through profit
or loss
Derivative financial assets
Notes receivable 495,370,782.47 495,370,782.47
Accounts receivable 378,859,159.11 378,859,159.11
Accounts receivable financing
Prepayments 11,352,297.10 11,352,297.10
Premiums receivable
Reinsurance receivables
Receivable reinsurance contract reserve
Other receivables 9,244,584.42 9,244,584.42
Including: Interest receivable
Dividends receivable
Financial assets purchased under resale
agreements
Inventories 557,953,891.70 557,953,891.70
Contractual assets
Assets classified as held for sale
Current portion of non-current assets
Other current assets 34,357,608.97 34,357,608.97
Total current assets 2,288,098,360.46 34,357,608.97
Non-current assets:
33
Changchai Company, Limited Third Quarter Report 2019
Loans and advances to customers
Investments in debt obligations
Available-for-sale financial assets 498,851,369.49 0.00 -498,851,369.49
Investments in other debt obligations
Held-to-maturity investments
Long-term receivables
Long-term equity investments 0.00
Investments in other equity instruments 498,851,369.49 498,851,369.49
Other non-current financial assets
Investment property 50,656,007.63 50,656,007.63
Fixed assets 511,250,371.37 511,250,371.37
Construction in progress 89,090,384.71 89,090,384.71
Productive living assets
Oil and gas assets
Right-of-use assets
Intangible assets 103,092,879.38 103,092,879.38
R&D expense
Goodwill
Long-term prepaid expense
Deferred income tax assets 979,822.71 979,822.71
Other non-current assets 0.00
Total non-current assets 1,253,920,835.29 1,253,920,835.29
Total assets 3,542,019,195.75 3,542,019,195.75
Current liabilities:
Short-term borrowings 27,000,000.00 27,000,000.00
Borrowings from central bank
Interbank loans obtained
Trading financial liabilities
Financial liabilities at fair value through
profit or loss
Derivative financial liabilities
Notes payable 438,375,400.00 438,375,400.00
Accounts payable 591,754,875.77 591,754,875.77
Advances from customers 34,500,232.97 34,500,232.97
Contractual liabilities
34
Changchai Company, Limited Third Quarter Report 2019
Financial assets sold under repurchase
agreements
Customer deposits and interbank deposits
Payables for acting trading of securities
Payables for underwriting of securities
Payroll payable 50,500,592.99 50,500,592.99
Taxes payable 7,066,085.89 7,066,085.89
Other payables 199,412,250.90 199,412,250.90
Including: Interest payable
Dividends payable 3,891,433.83 3,891,433.83
Handling charges and commissions payable
Reinsurance payables
Liabilities directly associated with assets
classified as held for sale
Current portion of non-current liabilities 18,500,000.00 18,500,000.00
Other current liabilities 2,082,985.18 2,082,985.18
Total current liabilities 1,369,192,423.70 1,369,192,423.70
Non-current liabilities:
Insurance contract reserve
Long-term borrowings 2,000,000.00 2,000,000.00
Bonds payable
Including: Preferred shares
Perpetual bonds
Lease liabilities
Long-term payables
Long-term payroll payable
Provisions
Deferred income 59,928,484.84 59,928,484.84
Deferred income tax liabilities 47,971,780.36 47,971,780.36
Other non-current liabilities
Total non-current liabilities 109,900,265.20 109,900,265.20
Total liabilities 1,479,092,688.90 1,479,092,688.90
Owners’ equity:
Share capital 561,374,326.00 561,374,326.00
Other equity instruments
35
Changchai Company, Limited Third Quarter Report 2019
Including: Preferred shares
Perpetual bonds
Capital reserves 164,328,665.43 164,328,665.43
Less: Treasury stock
Other comprehensive income 264,405,675.00 264,405,675.00
Specific reserve 15,182,958.83 15,182,958.83
Surplus reserves 320,133,050.15 320,133,050.15
General reserve
Retained earnings 717,883,351.33 717,883,351.33
Total equity attributable to owners of the
2,043,308,026.74 2,043,308,026.74
Company as the parent
Non-controlling interests 19,618,480.11 19,618,480.11
Total owners’ equity 2,062,926,506.85 2,062,926,506.85
Total liabilities and owners’ equity 3,542,019,195.75 3,542,019,195.75
Notes to adjustment
Balance sheet of the Company as the parent
Unit: RMB
31 December
Item 1 January 2019 Adjustment
2018
Current assets:
Monetary capital 759,404,219.72 759,404,219.72
Trading financial assets
Financial assets at fair value through profit or
loss
Derivative financial assets
Notes receivable 490,519,795.91 490,519,795.91
Accounts receivable 300,357,283.81 300,357,283.81
Accounts receivable financing
Prepayments 4,768,038.11 4,768,038.11
Other receivables 21,681,331.85 21,681,331.85
Including: Interest receivable
Dividends receivable
Inventories 437,423,195.46 437,423,195.46
Contractual assets
Assets classified as held for sale
Current portion of non-current assets
36
Changchai Company, Limited Third Quarter Report 2019
Other current assets 23,099,858.67 23,099,858.67
Total current assets 2,037,253,723.53 2,037,253,723.53
Non-current assets:
Investments in debt obligations
Available-for-sale financial assets 470,940,000.00 0.00 -470,940,000.00
Investments in other debt obligations
Held-to-maturity investments
Long-term receivables
Long-term equity investments 241,752,730.03 241,752,730.03
Investments in other equity instruments 470,940,000.00 470,940,000.00
Other non-current financial assets
Investment property 50,656,007.63 50,656,007.63
Fixed assets 413,186,680.19 413,186,680.19
Construction in progress 87,007,215.91 87,007,215.91
Productive living assets
Oil and gas assets
Right-of-use assets
Intangible assets 72,184,608.63 72,184,608.63
R&D expense
Goodwill
Long-term prepaid expense
Deferred income tax assets 930,641.19 930,641.19
Other non-current assets
Total non-current assets 1,336,657,883.58 1,336,657,883.58
Total assets 3,373,911,607.11 3,373,911,607.11
Current liabilities:
Short-term borrowings 10,000,000.00 10,000,000.00
Trading financial liabilities
Financial liabilities at fair value through profit
or loss
Derivative financial liabilities
Notes payable 425,995,400.00 425,995,400.00
Accounts payable 561,555,397.44 561,555,397.44
Advances from customers 32,072,387.55 32,072,387.55
Contractual liabilities
37
Changchai Company, Limited Third Quarter Report 2019
Payroll payable 43,597,759.22 43,597,759.22
Taxes payable 2,443,767.89 2,443,767.89
Other payables 185,022,961.56 185,022,961.56
Including: Interest payable
Dividends payable 3,243,179.97 3,243,179.97
Liabilities directly associated with assets
classified as held for sale
Current portion of non-current liabilities 18,500,000.00 18,500,000.00
Other current liabilities
Total current liabilities 1,279,187,673.66 1,279,187,673.66
Non-current liabilities:
Long-term borrowings
Bonds payable
Including: Preferred shares
Perpetual bonds
Lease liabilities
Long-term payables
Long-term payroll payable
Provisions
Deferred income 59,928,484.84 59,928,484.84
Deferred income tax liabilities 46,659,825.00 46,659,825.00
Other non-current liabilities
Total non-current liabilities 106,588,309.84 106,588,309.84
Total liabilities 1,385,775,983.50 1,385,775,983.50
Owners’ equity:
Share capital 561,374,326.00 561,374,326.00
Other equity instruments
Including: Preferred shares
Perpetual bonds
Capital reserves 183,071,147.70 183,071,147.70
Less: Treasury stock
Other comprehensive income 264,405,675.00 264,405,675.00
Specific reserve 15,182,958.83 15,182,958.83
Surplus reserves 320,133,050.15 320,133,050.15
Retained earnings 643,968,465.93 643,968,465.93
38
Changchai Company, Limited Third Quarter Report 2019
Total owners’ equity 1,988,135,623.61 1,988,135,623.61
Total liabilities and owners’ equity 3,373,911,607.11 3,373,911,607.11
Notes to adjustment
2. Retrospective Restatement of Previous Comparative Data due to the Execution of any New Standards
Governing Financial Instruments or Leases from 2019
□ Applicable √ Not applicable
III Independent Auditor’s Report
Indicate by tick mark whether the financial statements above have been audited by an independent auditor.
□Yes √ No
These financial statements have not been audited by such an auditor.
39
