Changchai Company, Limited Third Quarterly Report 2020
CHANGCHAI COMPANY, LIMITED
THIRD QUARTERLY REPORT 2020
October 2020
1
Changchai Company, Limited Third Quarterly Report 2020
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.
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Changchai Company, Limited Third Quarterly Report 2020
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
Reason for retrospective restatement:
Correction of accounting error
31 December 2019 Change (%)
30 September 2020
Before After After
Total assets (RMB) 3,764,223,265.12 3,484,975,990.48 3,488,820,324.60 7.89%
Equity attributable to the
listed company’s 2,173,457,688.37 2,109,239,597.94 2,110,892,767.58 2.96%
shareholders (RMB)
YoY YoY
Q3 2019 change Q1-Q3 Q1-Q3 2019 change
Q3 2020
(%) 2020 (%)
Before After After Before After After
460,57 462,13 1,751,8 1,576,4 1,581,0
Operating revenue 584,404,48 10.81
9,449.2 4,190.4 26.46% 60,265. 09,294. 05,315.
(RMB) 2.93 %
8 7 23 87 47
Net profit attributable to
11,263,467 950,66 944,81 1092.1 38,953, 20,008, 20,062, 94.16
the listed company’s
.62 8.62 5.43 3% 778.68 693.69 451.12 %
shareholders (RMB)
Net profit attributable to
the listed company’s 8,151,814. 197,70 159,01 5026.5 28,823, 14,424, 14,419, 99.89
shareholders before 68 4.53 0.84 8% 954.64 860.12 757.46 %
exceptional items (RMB)
Net cash generated -177,87 -176,9
38,040,529 -23,645 -23,579 17,685,
from/used in operating -- 3,130.5 01,330. --
.46 ,425.75 ,838.08 800.21
activities (RMB) 2 95
Basic earnings per share 1082.3 94.40
0.0201 0.0017 0.0017 0.0694 0.0356 0.0357
(RMB/share) 5% %
Diluted earnings per 1082.3 94.40
0.0201 0.0017 0.0017 0.0694 0.0356 0.0357
share (RMB/share) 5% %
Weighted average return
0.54% 0.05% 0.05% 0.49% 1.86% 1.02% 1.02% 0.84%
on equity (%)
Reason for change in accounting policy and particulars about correction of accounting error:
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Changchai Company, Limited Third Quarterly Report 2020
The Proposal on Correction of Previous Accounting Error was reviewed and approved on the 4th Meeting of the 9th
Board of Directors held on 29 July 2020, and Changzhou Xingsheng Property Management Co., Ltd. which was
not included in the scope of consolidated balance sheet before has been carried out accounting treatment in
accordance to the stipulations of accounting standards. For details, see the Announcement on the Resolutions of
the 4th Meeting of the 9th Board of Directors (Announcement No.:2020-043), the Announcement on Correction of
Previous Accounting Error (Announcement No.:2020-045), and the Authentication Report of Special Instruction
regarding Correction of Accounting Error from 2017 to 2019 disclosed on Securities Times, Ta Kung Pao and
http://www.cninfo.com.cn.
1. Effects to the consolidated balance sheet of the same period in 2019
1 January - 30 September 2019
Effected items
Before After
Income statement:
1. Revenues 1,576,409,294.87 1,581,005,315.47
Operating revenue 1,576,409,294.87 1,581,005,315.47
2. Costs and expenses 1,561,504,072.64 1,566,116,694.04
Cost of sales 1,359,819,510.40 1,363,790,338.62
Taxes and levies 5,752,156.03 5,768,967.47
Administrative expense 56,227,095.34 56,859,918.77
Finance costs -5,341,321.85 -5,349,163.54
Interest expense 3,845,353.84 3,864,569.25
Interest income 3,262,988.18 3,264,215.89
Other income 326,259.20 338,322.49
Investment income 6,454,405.76 6,512,955.00
Credit impairment loss -5,586,101.21 -5,581,969.86
3. Operating profit 17,097,695.63 17,155,838.71
Non-operating income 961,235.14 977,241.24
Non-operating expense 233,654.06 246,251.41
4. Gross profit 17,825,276.71 17,886,828.54
Income tax expense -2,232,431.33 -2,224,636.93
5. Net profit 20,057,708.04 20,111,465.47
By operating continuity 20,057,708.04 20,111,465.47
Net profit attributable to owners of the Company as the
20,008,693.69 20,062,451.12
parent
6. Total comprehensive income 51,056,783.04 51,110,540.47
Attributable to owners of the Company as the parent 51,007,768.69 51,061,526.12
7. Earnings per share
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Changchai Company, Limited Third Quarterly Report 2020
7.1 Basic earnings per share 0.0356 0.0357
7.2 Diluted earnings per share 0.0356 0.0357
Cash Flow Statement:
1. Cash flows from operating activities
Proceeds from sale of commodities and rendering of
1,359,318,699.75 1,364,093,458.22
services
Cash generated from other operating activities 11,459,085.79 12,148,649.31
Subtotal of cash generated from operating activities 1,394,569,539.45 1,400,033,861.44
Payments for commodities and services 1,266,094,750.13 1,269,133,440.46
Cash paid to and for employees 219,511,319.88 220,572,688.59
Taxes and levies paid 20,471,465.12 20,667,117.44
Cash used in other operating activities 66,365,134.84 66,561,945.90
Subtotal of cash used in operating activities 1,572,442,669.97 1,576,935,192.39
Net cash generated from/used in operating activities -177,873,130.52 -176,901,330.95
2. Cash flows from investing activities:
Proceeds from disinvestment 14,000,000.00 17,900,000.00
Return on investment 6,454,405.76 6,480,702.52
Subtotal of cash generated from investing activities 21,494,911.84 25,421,208.60
Payments for the acquisition of fixed assets, intangible
16,257,775.02 16,317,913.12
assets and other long-lived assets
Payments for investments 70,138,441.76 77,088,441.76
Subtotal of cash used in investing activities 86,396,216.78 93,406,354.88
Net cash generated from/used in investing activities -64,901,304.94 -67,985,146.28
5. Net increase in cash and cash equivalents -287,128,835.58 -289,240,877.35
Cash and cash equivalents, beginning of the period 687,079,639.59 691,266,373.34
6. Cash and cash equivalents, end of the period 399,950,804.01 402,025,495.99
Exceptional gains and losses:
√ Applicable □ Not applicable
Unit: RMB
Item Q1-Q3 2020 Note
Gain/Loss arising from disposal of non-current assets (inclusive of
181,780.55
impairment 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 5,695,097.89
amounts according to the government’s unified standards
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Changchai Company, Limited Third Quarterly Report 2020
Capital occupation charges on non-financial enterprises that are recorded into
257,714.14
current profit or loss
Gain/Loss on changes in fair value arising from holding of held-for-trading
financial assets and liabilities, derivative financial assets and liabilities and
investment income from disposal of held-for-trading financial assets and
5,503,903.85
liabilities, derivative financial assets and liabilities and other debt investments
other than effective hedge business related to the Company’s normal
operating businesses
Other non-operating income and expense other than the above 224,536.62
Less: Income tax effects 1,486,385.30
Non-controlling interests effects (after tax) 246,823.71
Total 10,129,824.04 --
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
No such cases in the Reporting Period.
II Total Number of Shareholders and Holdings of Top 10 of Them as at the End of the
Reporting Period
1. Numbers of Ordinary Shareholders and Preference Shareholders with Resumed Voting Rights as well as
Holdings of Top 10 Shareholders
Unit: share
Number of preference shareholders
Number of ordinary shareholders 46,684 0
with resumed voting rights (if any)
Top 10 shareholders
Shares in
Sharehold Restrict pledge or
Nature of ing Total shares ed frozen
Name of shareholder
shareholder percentag held shares Sh
e held Status are
s
State-owned
Changzhou Investment Group Co., Ltd. 30.43% 170,845,236
corporation
China Construction Bank－First State
Cinda New Energy Industry Equity Other 1.70% 9,554,765
Securities Investment Fund
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Changchai Company, Limited Third Quarterly Report 2020
Foreign
KGI ASIA LIMITED 0.57% 3,189,845
corporation
Domestic
Chen Jian 0.34% 1,914,000
individual
China Citic Bank－CCB CSI 500 Index
Other 0.29% 1,614,501
Enhanced Securities Investment Fund
China Construction Bank－First State
Cinda Advanced Intelligence Equity Other 0.28% 1,594,500
Securities Investment Fund
Domestic
Li Suinan 0.28% 1,548,100
individual
Domestic
Huang Guoliang 0.27% 1,528,891
individual
Domestic
Hu Wenyong 0.27% 1,500,266
individual
Foreign
UBS AG 0.25% 1,392,120
corporation
Top 10 unrestricted shareholders
Unrestricted Shares by class
Name of shareholder ordinary
Class Shares
shares held
RMB-denominate
Changzhou Investment Group Co., Ltd. 170,845,236 170,845,236
d ordinary share
China Construction Bank－First State
RMB-denominate
Cinda New Energy Industry Equity 9,554,765 9,554,765
d ordinary share
Securities Investment Fund
Domestically
KGI ASIA LIMITED 3,189,845 listed foreign 3,189,845
share
RMB-denominate
Chen Jian 1,914,000 1,914,000
d ordinary share
China Citic Bank－CCB CSI 500 Index RMB-denominate
1,614,501 1,614,501
Enhanced Securities Investment Fund d ordinary share
China Construction Bank－First State
RMB-denominate
Cinda Advanced Intelligence Equity 1,594,500 1,594,500
d ordinary share
Securities Investment Fund
Domestically
Li Suinan 1,548,100 listed foreign 1,548,100
share
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Changchai Company, Limited Third Quarterly Report 2020
Domestically
Huang Guoliang 1,528,891 listed foreign 1,528,891
share
Domestically
Hu Wenyong 1,500,266 listed foreign 1,500,266
share
RMB-denominate
UBS AG 1,392,120 1,392,120
d ordinary share
It is unknown whether there is among the top 10
public shareholders and the top 10 unrestricted
Related or acting-in-concert parties among the public shareholders any related parties or
shareholders above acting-in-concert parties as defined in the
Administrative Measures for Information
Regarding Shareholding Alteration.
Shareholder Chen Jian held 800,000 shares in the
Top 10 shareholders engaged in securities margin Company through his account of collateral
trading (if any) securities for margin trading in Zhongtai Securities
Co., Ltd., accounting for 0.14% of shareholding.
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 Preference Shareholders and Shareholdings of Top 10 of Them
□ Applicable √ Not applicable
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Changchai Company, Limited Third Quarterly Report 2020
Part III Significant Events
I Changes in Key Financial Statement Line Items and Explanation of why
√ Applicable □ Not applicable
1. Consolidated Balance Sheet Items as at 30 September 2020
30 September 31 December 2019
Item Change (%) Explanation of why
2020 (RMB) (RMB)
The Company properly allowed customers’
buying on credit for more markets and
Accounts multi-cylinder diesel engine customers are
798,741,555.78 419,302,056.87 90.49%
receivable mainly supporting companies of main
engine, which are usually given longer
payment days.
Recovery of an amount of RMB5 million
Other
6,375,613.71 9,703,390.94 -34.29% due to wholly-owned subsidiary Housheng
receivables
Investment
Construction in Wholly-owned subsidiary Changchai
136,252,904.99 91,358,156.24 49.14%
progress Machinery being under construction
More bank acceptance bills were paid to
Notes payable 573,397,000.00 403,035,000.00 42.27% suppliers as required by them during Q1-Q3
2020
Salaries and bonuses accrued in the nine
Employee months ended 30 September 2019 were paid
13,343,460.16 44,559,015.79 -70.05%
benefits payable in the corresponding period of the current
year
Taxes and levies Increases in both sales and profit during
12,144,962.87 9,094,382.58 33.54%
payable Q1-Q3 2020
2. Consolidated Income Statement Items for Q1~Q3 2020
Q1~Q3 2020 Q1~Q3 2019
Item Change (%) Explanation of why
(RMB) (RMB)
Exchange gains and losses resulted from
Finance costs 7,051,835.86 -5,349,163.54 - exchange rate fluctuations and increase in
discounting expense
Increase in government grants received by
Other income 5,695,097.89 338,322.49 1583.33% the Company and its subsidiaries during
Q1~Q3 2020
Profit increased during Q1~Q3 2020, and
Income tax the same period of last year saw corporate
5,108,476.05 -2,224,636.93 -
expense income tax rebates, with no such tax rebates
in the current period.
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Changchai Company, Limited Third Quarterly Report 2020
Net profit Increases in both sales revenue and
attributable to profitability during Q1~Q3 2020
shareholders of 38,953,778.68 20,062,451.12 94.16%
the Company as
the parent
3. Consolidated Cash Flow Statement Items for Q1~Q3 2020
Q1~Q3 2020 Q1~Q3 2019 Change
Item Explanation of why
(RMB) (RMB) (%)
Net cash generated -
Increase in sales revenue during Q1~Q3
from/used in 17,685,800.21 -176,901,330.95
2020
operating activities
Payments for the
Increase in the acquisition of fixed
acquisition of fixed
assets, etc. by wholly-owned subsidiary
assets, intangible 114,151,611.40 16,317,913.12 599.55%
Changchai Machinery, which was being
assets and other
under construction
long-lived assets
Q1~Q3 2019 saw an investment of
Payments for RMB50 million by the Company in
25,022,956.16 77,088,441.76 -67.54%
investments Housheng New Energy, with no such
investment in Q1~Q3 2020
Q1~Q3 2019 saw the repayment of
Net cash generated
some bank loan and the payment of
from/used in -2,280,722.28 -44,354,400.12 -
cash dividends, with no such dividend
financing activities
payout in Q1~Q3 2020
II Progress, Influence and Solutions in respect of Significant Events
√ Applicable □ Not applicable
1. On the 9 April 2020, the Company held the 24th Meeting of the 8th Board of Directors and the 19th Meeting of
the 8th Supervisory Committee, on which the Proposal on the Plan for Private Placement of A-shares in 2020 and
related proposals were reviewed and approved and the Company was allowed to privately offer stocks not
exceeding 168,412,297 shares (inclusive) to specific investors not exceeding 35 including Changzhou Investment
Group Co., Ltd. (hereinafter referred to as “Investment Group”) for raising funds not exceeding RMB635 million
(inclusive). On 8 May 2020, above issue was reviewed and approved by the 2019 Annual General Meeting of the
Company.
2. On 7 September 2020, the Company received the Acceptance Form regarding Application for Administrative
Permission of China Securities Regulatory Commission from China Securities Regulatory Commission
(hereinafter referred to as the “CSRC”), and the CSRC accepted the Company’s application for administrative
permission for private placement of A-shares.
3. On 14 September 2020, the Company received the Notice of First Feedback on Administrative Permission
Project of CSRC from the CSRC. The Company carefully checked and implemented the feedback together with
related intermediaries, supplemented materials of and answered questions about issues involved as required by the
feedback and disclosed the reply on the feedback on 29 September 2020. The Company timely submitted the
materials regarding the reply on the feedback to the CSRC as required.
4. On 18 September 2020, the Company held the interim meeting of the Board of Directors and the interim
meeting of the Supervisory Committee, reviewed and approved the Proposal on Plan (Revised) for Private
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Changchai Company, Limited Third Quarterly Report 2020
Placement of Stocks in 2020 and related proposals which have been reviewed and approved on the 2nd
Extraordinary General Meeting of 2020 held on 12 October 2020. The information in the plan about the validity of
resolutions and authorization by the general meeting to the Board of Directors to handle related issues about this
private placement of stocks were adjusted.
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 Relevant 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(2020-2022)
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 8 May
made to Bonus concern after cash bonus, the profits 2020- in a
Company, 2020
minority allocated by cash every year shouldn’t be 2022 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
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Changchai Company, Limited Third Quarterly Report 2020
IV Securities Investments
√ Applicable □ Not applicable
Gain
/loss Cum
on ulati
Acco Purc Gain
fair-v ve Sold
untin Open hase /loss Closi
Initia alue fair-v in
Type Code Nam g ing d in in ng Acco Fund
l chan alue the
of of e of meas carry the the carry untin ing
inves ges chan curre
secur secur secur urem ing curre curre ing g sourc
tmen in ges nt
ities ities ities ent amo nt nt amo title e
t cost the throu perio
meth unt perio perio unt
curre gh d
od d d
nt equit
perio y
d
Inves
tmen
Dom t in
Foto 41,7 Fair 260, 89,5 261, 349,
estic/ other Self-
6001 n 84,0 value 100, 90,0 720, 690,
forei 0.00 0.00 0.00 equit fund
66 Moto 00.0 meth 000. 00.0 100. 000.
gn y ed
r 0 od 00 0 00 00
stock instr
ume
nts
Inves
tmen
Dom t in
Bank 18,0 Fair 102, 77,7 109,
estic/ 7,38 other Self-
6009 of 00,0 value 060, 24,0 440,
forei 0,00 0.00 0.00 0.00 equit fund
19 Jiang 00.0 meth 000. 00.0 000.
gn 0.00 y ed
su 0 od 00 0 00
stock instr
ume
nts
59,7 362, 96,9 339, 459,
84,0 160, 70,0 444, 130,
Total -- -- --
00.0 000. 00.0 100. 0.00 0.00 0.00 000.
0 00 0 00 00
2. Investments in Derivative Financial Instruments
□ Applicable √ Not applicable
12
Changchai Company, Limited Third Quarterly Report 2020
No such cases in the Reporting Period.
V Progress of Projects Financed with Raised Funds
□ Applicable √ Not applicable
VI 2020 Annual Operating Performance Forecast
Warning of a forecast loss on or a forecast significant year-on-year change in the 2020 annual net profit, as well as
explanation of why:
□ Applicable √ Not applicable
VII Significant Contracts Arising from the Company’s Ordinary Course of Business
□ Applicable √ Not applicable
VIII Cash Entrusted for Wealth Management
√ Applicable □ Not applicable
Unit: RMB’0,000
Undue Unrecovered
Type Funding source Amount
amount overdue amount
Broker’s wealth management product Self-funded 730.00 1,380.00 0.00
Bank’s wealth management product Self-funded 310.00 0.00 0.00
Total 1,040.00 1,380.00 0.00
High-risk wealth management transactions with a significant single amount, or with low security, low liquidity or
no principal protection:
□ Applicable √ Not applicable
Wealth management transactions with possible impairments including an expectedly unrecoverable principal:
□ Applicable √ Not applicable
IX Irregularities in the Provision of Guarantees
□ Applicable √ Not applicable
No such cases in the Reporting Period.
X Occupation of the Company’s Capital by the Controlling Shareholder or any of Its Related
Parties for Non-Operating Purposes
□ Applicable √ Not applicable
No such cases in the Reporting Period.
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Changchai Company, Limited Third Quarterly Report 2020
XI Communications with the Investment Community such as Researches, Inquiries and
Interviews Received during the Reporting Period
√ Applicable □ Not applicable
Place Way
index of the
of of
Date of Type of basic facts
com com Communic Main contents communicated and
communicatio communic according to
muni muni ation party materials provided
n ation party the
catio catio
investigation
n n
14 September Easy Individual The pricing of the private placement of
Other Individual Easy IR
2020 IR investor stocks in 2020 by the Company
18 August Easy Individual The ownership structure and products
Other Individual Easy IR
2020 IR investor of Housheng New Energy
18 August Easy Individual The ownership structure of Housheng
Other Individual Easy IR
2020 IR investor New Energy
13 August Easy Individual The disposal plan of shares in Futon
Other Individual Easy IR
2020 IR investor Motor held by the Company
The reason for the increase in sales
13 August Easy Individual
Other Individual expense of the Company for the first Easy IR
2020 IR investor
half the year
The progress of the application for the
13 August Easy Individual
Other Individual private placement of stocks by the Easy IR
2020 IR investor
Company
Easy Individual The progress of the private placement
27 July 2020 Other Individual Easy IR
IR investor of stocks by the Company
The construction period for the
Easy Individual
27 July 2020 Other Individual innovation capacity building project of Easy IR
IR investor
the Company’s technical center
Easy Individual Suggestions on the quest of the
24 July 2020 Other Individual Easy IR
IR investor Company for the government
Easy Individual
24 July 2020 Other Individual The disposal flow of old factories Easy IR
IR investor
The remuneration appraisal standards
Easy Individual
7 July 2020 Other Individual for the Company’s senior management Easy IR
IR investor
and plan for the investors meeting
Easy Individual Factory inspection for Lithium battery
7 July 2020 Other Individual Easy IR
IR investor diaphragm project
Easy Individual The industrial transformation and
7 July 2020 Other Individual Easy IR
IR investor upgrading of the Company
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Changchai Company, Limited Third Quarterly Report 2020
Easy Individual The industrial transformation and
7 July 2020 Other Individual Easy IR
IR investor upgrading of the Company
Easy Individual
7 July 2020 Other Individual Product R&D of the Company Easy IR
IR investor
Easy Individual Work performance of the Company’s
7 July 2020 Other Individual Easy IR
IR investor Board Secretary
Easy Individual The labor contract of the General
7 July 2020 Other Individual Easy IR
IR investor Manager of Housheng New Energy
Easy Individual
6 July 2020 Other Individual Land of the Company Easy IR
IR investor
15
Changchai Company, Limited Third Quarterly Report 2020
Part IV Financial Statements
I Financial Statements
1. Consolidated Balance Sheet
Prepared by Changchai Company, Limited
30 September 2020
Unit: RMB
Item 30 September 2020 31 December 2019
Current assets:
Monetary assets 588,267,039.78 638,589,260.09
Settlement reserve
Loans to other banks and financial institutions
Held-for-trading financial assets 13,800,000.00 13,050,000.00
Derivative financial assets
Notes receivable 473,884,245.66 606,283,023.05
Accounts receivable 798,741,555.78 419,302,056.87
Receivables financing
Prepayments 12,689,614.06 12,968,746.16
Premiums receivable
Reinsurance receivables
Receivable reinsurance contract reserve
Other receivables 6,375,613.71 9,703,390.94
Including: Interest receivable
Dividends receivable
Financial assets purchased under resale agreements
Inventories 481,218,665.32 473,359,168.90
Contract assets
Assets held for sale
Current portion of non-current assets
Other current assets 6,021,701.45 6,421,275.47
Total current assets 2,380,998,435.76 2,179,676,921.48
Non-current assets:
16
Changchai Company, Limited Third Quarterly Report 2020
Loans and advances to customers
Debt investments
Other debt investments
Long-term receivables
Long-term equity investments
Investments in other equity instruments 559,130,000.00 532,886,000.00
Other non-current financial assets 78,002,757.25 77,952,101.63
Investment property 46,791,411.23 48,447,666.83
Fixed assets 464,591,862.13 457,722,667.32
Construction in progress 136,252,904.99 91,358,156.24
Productive living assets
Oil and gas assets
Right-of-use assets
Intangible assets 96,267,414.62 99,699,450.26
Development costs
Goodwill
Long-term prepaid expense 33,595.50 53,497.80
Deferred income tax assets 1,977,483.64 1,023,863.04
Other non-current assets 177,400.00
Total non-current assets 1,383,224,829.36 1,309,143,403.12
Total assets 3,764,223,265.12 3,488,820,324.60
Current liabilities:
Short-term borrowings 22,000,000.00 22,000,000.00
Borrowings from the central bank
Loans from other banks and financial institutions
Held-for-trading financial liabilities
Derivative financial liabilities
Notes payable 573,397,000.00 403,035,000.00
Accounts payable 554,002,319.77 525,625,016.89
Advances from customers 31,789,001.78
Contract liabilities 31,398,892.82
Financial assets sold under repurchase agreements
Customer deposits and deposits from other banks
and financial institutions
Payables for acting trading of securities
17
Changchai Company, Limited Third Quarterly Report 2020
Payables for underwriting of securities
Employee benefits payable 13,343,460.16 44,559,015.79
Taxes and levies payable 12,144,962.87 9,094,382.58
Other payables 244,367,973.24 205,064,145.10
Including: Interest payable
Dividends payable 3,891,433.83 3,891,433.83
Fees and commissions payable
Reinsurance payables
Liabilities directly associated with assets held for
sale
Current portion of non-current liabilities
Other current liabilities 1,085,248.50 1,177,712.38
Total current liabilities 1,451,739,857.36 1,242,344,274.52
Non-current liabilities:
Insurance contract reserve
Long-term borrowings
Bonds payable
Including: Preference shares
Perpetual bonds
Lease liabilities
Long-term payables
Long-term employee benefits payable
Provisions
Deferred income 58,331,924.41 58,864,111.22
Deferred income tax liabilities 60,899,865.60 57,082,890.27
Other non-current liabilities
Total non-current liabilities 119,231,790.01 115,947,001.49
Total liabilities 1,570,971,647.37 1,358,291,276.01
Owners’ equity:
Share capital 561,374,326.00 561,374,326.00
Other equity instruments
Including: Preference shares
Perpetual bonds
Capital reserves 164,328,665.43 164,328,665.43
Less: Treasury stock
18
Changchai Company, Limited Third Quarterly Report 2020
Other comprehensive income 339,444,100.00 317,059,775.00
Specific reserve 18,438,650.51 17,560,202.07
Surplus reserves 322,228,533.72 322,228,533.72
General reserve
Retained earnings 767,643,412.71 728,341,265.36
Total equity attributable to owners of the Company as
2,173,457,688.37 2,110,892,767.58
the parent
Non-controlling interests 19,793,929.38 19,636,281.01
Total owners’ equity 2,193,251,617.75 2,130,529,048.59
Total liabilities and owners’ equity 3,764,223,265.12 3,488,820,324.60
Legal representative: Shi Xinkun General Manager: Zhang Xin
Head of the accounting department: Jiang He
19
Changchai Company, Limited Third Quarterly Report 2020
2. Balance Sheet of the Company as the Parent
Unit: RMB
Item 30 September 2020 31 December 2019
Current assets:
Monetary assets 516,026,926.22 584,957,678.96
Held-for-trading financial assets
Derivative financial assets
Notes receivable 461,625,375.66 576,948,023.05
Accounts receivable 715,329,444.63 337,447,538.04
Receivables financing
Prepayments 5,196,747.28 6,386,284.14
Other receivables 22,937,844.85 22,741,542.22
Including: Interest receivable
Dividends receivable
Inventories 362,725,150.30 368,653,472.39
Contract assets
Assets held for sale
Current portion of non-current assets
Other current assets 3,898,333.51
Total current assets 2,083,841,488.94 1,901,032,872.31
Non-current assets:
Debt investments
Other debt investments
Long-term receivables
Long-term equity investments 367,752,730.03 252,752,730.03
Investments in other equity instruments 559,130,000.00 532,886,000.00
Other non-current financial assets 50,000,000.00 50,000,000.00
Investment property 46,791,411.23 48,447,666.83
Fixed assets 378,520,875.17 364,071,199.07
Construction in progress 32,607,864.62 89,330,161.60
Productive living assets
Oil and gas assets
Right-of-use assets
Intangible assets 67,786,482.85 70,169,770.91
Development costs
Goodwill
Long-term prepaid expense
Deferred income tax assets 1,926,498.14 970,026.67
20
Changchai Company, Limited Third Quarterly Report 2020
Other non-current assets
Total non-current assets 1,504,515,862.04 1,408,627,555.11
Total assets 3,588,357,350.98 3,309,660,427.42
Current liabilities:
Short-term borrowings 5,000,000.00 5,000,000.00
Held-for-trading financial liabilities
Derivative financial liabilities
Notes payable 560,197,000.00 392,105,000.00
Accounts payable 518,895,469.59 481,854,210.18
Advances from customers 28,673,664.87
Contract liabilities 26,654,168.78
Employee benefits payable 5,505,295.99 39,125,477.30
Taxes and levies payable 9,128,863.21 5,952,664.10
Other payables 237,250,821.97 192,046,130.29
Including: Interest payable
Dividends payable 3,243,179.97 3,243,179.97
Liabilities directly associated with assets held for
sale
Current portion of non-current liabilities
Other current liabilities
Total current liabilities 1,362,631,619.54 1,144,757,146.74
Non-current liabilities:
Long-term borrowings
Bonds payable
Including: Preference shares
Perpetual bonds
Lease liabilities
Long-term payables
Long-term employee benefits payable
Provisions
Deferred income 58,331,924.41 58,864,111.22
Deferred income tax liabilities 59,901,900.00 55,951,725.00
Other non-current liabilities
Total non-current liabilities 118,233,824.41 114,815,836.22
Total liabilities 1,480,865,443.95 1,259,572,982.96
Owners’ equity:
Share capital 561,374,326.00 561,374,326.00
Other equity instruments
Including: Preference shares
Perpetual bonds
Capital reserves 183,071,147.70 183,071,147.70
21
Changchai Company, Limited Third Quarterly Report 2020
Less: Treasury stock
Other comprehensive income 339,444,100.00 317,059,775.00
Specific reserve 18,438,650.51 17,560,202.07
Surplus reserves 322,228,533.72 322,228,533.72
Retained earnings 682,935,149.10 648,793,459.97
Total owners’ equity 2,107,491,907.03 2,050,087,444.46
Total liabilities and owners’ equity 3,588,357,350.98 3,309,660,427.42
Legal representative: Shi Xinkun General Manager: Zhang Xin
Head of the accounting department: Jiang He
22
Changchai Company, Limited Third Quarterly Report 2020
3. Consolidated Income Statement for Q3
Unit: RMB
Item Q3 2020 Q3 2019
1. Revenues 584,404,482.93 462,134,190.47
Including: Operating revenue 584,404,482.93 462,134,190.47
Interest income
Insurance premium income
Fee and commission income
2. Costs and expenses 571,476,343.30 467,023,908.14
Including: Cost of sales 482,566,998.78 390,805,565.08
Interest expense
Fee and commission expense
Surrenders
Net insurance claims paid
Net amount provided as insurance
contract reserve
Expenditure on policy dividends
Reinsurance premium expense
Taxes and levies 3,122,156.69 759,274.52
Selling expense 38,696,970.53 37,273,069.65
Administrative expense 22,209,789.62 22,299,856.47
R&D expense 17,108,931.84 19,450,880.63
Finance costs 7,771,495.84 -3,564,738.21
Including: Interest expense 2,043,803.77 2,296,943.75
Interest income 1,771,285.50 1,617,009.65
Add: Other income 3,017,133.07 204,284.78
Return on investment (“-” for loss) 119,306.81 6,328,605.37
Including: Share of profit or loss of joint
ventures and associates
Income from the derecognition of
financial assets at amortized cost (“-” for loss)
Exchange gain (“-” for loss)
Net gain on exposure hedges (“-” for loss)
Gain on changes in fair value (“-” for loss)
23
Changchai Company, Limited Third Quarterly Report 2020
Credit impairment loss (“-” for loss) -1,356,757.76 -329,359.12
Asset impairment loss (“-” for loss) -1,054,702.67
Asset disposal income (“-” for loss) 170,802.94 35,470.13
3. Operating profit (“-” for loss) 13,823,922.02 1,349,283.49
Add: Non-operating income 159,777.74 394,303.76
Less: Non-operating expense 28,902.97 28,413.43
4. Gross profit (“-” for loss) 13,954,796.79 1,715,173.82
Less: Income tax expense 2,711,164.47 770,358.39
5. Net profit (“-” for net loss) 11,243,632.32 944,815.43
5.1 By operating continuity
5.1.1 Net profit from continuing operations (“-”
11,243,632.32 944,815.43
for net loss)
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
11,263,467.62 944,815.43
Company as the parent
5.2.1 Net profit attributable to non-controlling
-19,835.30 0.00
interests
6. Other comprehensive income, net of tax 82,424,500.00 -56,331,625.00
Attributable to owners of the Company as the
82,424,500.00 -56,331,625.00
parent
6.1 Items that will not be reclassified to profit or
82,424,500.00 -56,331,625.00
loss
6.1.1 Changes caused by remeasurements on
defined benefit 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
82,424,500.00 -56,331,625.00
in other equity instruments
6.1.4 Changes in the fair value arising from
changes in own credit risk
6.1.5 Other
6.2 Items that will be reclassified to profit or
loss
6.2.1 Other comprehensive income that will
be reclassified to profit or loss under the equity
method
24
Changchai Company, Limited Third Quarterly Report 2020
6.2.2 Changes in the fair value of other debt
investments
6.2.3 Other comprehensive income arising
from the reclassification of financial assets
6.2.4 Credit impairment allowance for other
debt investments
6.2.5 Reserve for cash flow hedges
6.2.6 Differences arising from the translation
of foreign currency-denominated financial statements
6.2.7 Other
Attributable to non-controlling interests
7. Total comprehensive income 93,668,132.32 -55,386,809.57
Attributable to owners of the Company as the
93,687,967.62 -55,386,809.57
parent
Attributable to non-controlling interests -19,835.30 0.00
8. Earnings per share
8.1 Basic earnings per share 0.0201 0.0017
8.2 Diluted earnings per share 0.0201 0.0017
Legal representative: Shi Xinkun General Manager: Zhang Xin
Head of the accounting department: Jiang He
25
Changchai Company, Limited Third Quarterly Report 2020
4. Income Statement of the Company as the Parent for Q3
Unit: RMB
Item Q3 2020 Q3 2019
1. Operating revenue 544,380,376.94 421,276,661.38
Less: Cost of sales 451,581,653.16 359,102,937.24
Taxes and levies 2,294,057.28 284,731.94
Selling expense 34,532,756.23 35,132,740.35
Administrative expense 19,659,221.51 18,782,065.04
R&D expense 16,348,087.88 18,913,412.83
Finance costs 6,341,917.96 -3,838,154.82
Including: Interest expense 2,043,148.48 2,245,294.98
Interest income 1,748,401.59 1,582,099.73
Add: Other income 1,498,700.00 196,959.20
Return on investment (“-” for loss) 6,116,775.16
Including: Share of profit or loss of joint
ventures and associates
Income from the derecognition of
financial assets at amortized cost (“-” for loss)
Net gain on exposure hedges (“-” for loss)
Gain on changes in fair value (“-” for loss)
Credit impairment loss (“-” for loss) -1,456,757.76 -200,000.00
Asset impairment loss (“-” for loss) -1,054,702.67
Asset disposal income (“-” for loss) -3,601.94 35,470.13
2. Operating profit (“-” for loss) 12,606,320.55 -951,866.71
Add: Non-operating income 141,340.86 90,530.00
Less: Non-operating expense 1,840.00 1,380.00
3. Gross profit (“-” for loss) 12,745,821.41 -862,716.71
Less: Income tax expense 2,505,420.39 80,572.15
4. Net profit (“-” for net loss) 10,240,401.02 -943,288.86
4.1 Net profit from continuing operations (“-” for
10,240,401.02 -943,288.86
net loss)
4.2 Net profit from discontinued operations (“-” for
net loss)
5. Other comprehensive income, net of tax 82,424,500.00 -56,331,625.00
26
Changchai Company, Limited Third Quarterly Report 2020
5.1 Items that will not be reclassified to profit or
82,424,500.00 -56,331,625.00
loss
5.1.1 Changes caused by remeasurements on
defined benefit 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
82,424,500.00 -56,331,625.00
other equity instruments
5.1.4 Changes in the fair value arising from
changes in own credit risk
5.1.5 Other
5.2 Items that will be reclassified to profit or loss
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 other debt
investments
5.2.3 Other comprehensive income arising from
the reclassification of financial assets
5.2.4 Credit impairment allowance for other debt
investments
5.2.5 Reserve for cash flow hedges
5.2.6 Differences arising from the translation of
foreign currency-denominated financial statements
5.2.7 Other
6. Total comprehensive income 92,664,901.02 -57,274,913.86
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 accounting department: Jiang He
27
Changchai Company, Limited Third Quarterly Report 2020
5. Consolidated Income Statement for Q1~Q3
Unit: RMB
Item Q1~Q3 2020 Q1~Q3 2019
1. Revenues 1,751,860,265.23 1,581,005,315.47
Including: Operating revenue 1,751,860,265.23 1,581,005,315.47
Interest income
Insurance premium income
Fee and commission income
2. Costs and expenses 1,694,490,647.57 1,566,116,694.04
Including: Cost of sales 1,468,409,717.46 1,363,790,338.62
Interest expense
Fee and commission expense
Surrenders
Net insurance claims paid
Net amount provided as insurance
contract reserve
Expenditure on policy dividends
Reinsurance premium expense
Taxes and levies 9,673,762.22 5,768,967.47
Selling expense 102,089,329.05 95,531,468.63
Administrative expense 57,818,820.36 56,859,918.77
R&D expense 49,447,182.62 49,515,164.09
Finance costs 7,051,835.86 -5,349,163.54
Including: Interest expense 5,384,379.68 3,864,569.25
Interest income 4,563,438.25 3,264,215.89
Add: Other income 5,695,097.89 338,322.49
Return on investment (“-” for loss) 5,503,903.85 6,512,955.00
Including: Share of profit or loss of joint
ventures and associates
Income from the derecognition of
financial assets at amortized cost (“-” for loss)
Exchange gain (“-” for loss)
Net gain on exposure hedges (“-” for loss)
Gain on changes in fair value (“-” for loss)
28
Changchai Company, Limited Third Quarterly Report 2020
Credit impairment loss (“-” for loss) -7,335,779.05 -5,581,969.86
Asset impairment loss (“-” for loss) -17,398,507.67 -26,096.43
Asset disposal income (“-” for loss) 181,780.55 1,024,006.08
3. Operating profit (“-” for loss) 44,016,113.23 17,155,838.71
Add: Non-operating income 628,068.52 977,241.24
Less: Non-operating expense 424,278.65 246,251.41
4. Gross profit (“-” for loss) 44,219,903.10 17,886,828.54
Less: Income tax expense 5,108,476.05 -2,224,636.93
5. Net profit (“-” for net loss) 39,111,427.05 20,111,465.47
5.1 By operating continuity
5.1.1 Net profit from continuing operations (“-”
39,111,427.05 20,111,465.47
for net loss)
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
38,953,778.68 20,062,451.12
Company as the parent
5.2.1 Net profit attributable to non-controlling
157,648.37 49,014.35
interests
6. Other comprehensive income, net of tax 22,732,693.67 30,999,075.00
Attributable to owners of the Company as the
22,732,693.67 30,999,075.00
parent
6.1 Items that will not be reclassified to profit or
22,732,693.67 30,999,075.00
loss
6.1.1 Changes caused by remeasurements on
defined benefit 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
22,732,693.67 30,999,075.00
in other equity instruments
6.1.4 Changes in the fair value arising from
changes in own credit risk
6.1.5 Other
6.2 Items that will be reclassified to profit or
loss
6.2.1 Other comprehensive income that will
be reclassified to profit or loss under the equity
method
29
Changchai Company, Limited Third Quarterly Report 2020
6.2.2 Changes in the fair value of other debt
investments
6.2.3 Other comprehensive income arising
from the reclassification of financial assets
6.2.4 Credit impairment allowance for other
debt investments
6.2.5 Reserve for cash flow hedges
6.2.6 Differences arising from the translation
of foreign currency-denominated financial statements
6.2.7 Other
Attributable to non-controlling interests
7. Total comprehensive income 61,844,120.72 51,110,540.47
Attributable to owners of the Company as the
61,686,472.35 51,061,526.12
parent
Attributable to non-controlling interests 157,648.37 49,014.35
8. Earnings per share
8.1 Basic earnings per share 0.0694 0.0357
8.2 Diluted earnings per share 0.0694 0.0357
Legal representative: Shi Xinkun General Manager: Zhang Xin
Head of the accounting department: Jiang He
30
Changchai Company, Limited Third Quarterly Report 2020
6. Income Statement of the Company as the Parent for Q1~Q3
Unit: RMB
Item Q1~Q3 2020 Q1~Q3 2019
1. Operating revenue 1,625,850,180.06 1,454,605,836.96
Less: Cost of sales 1,375,003,675.93 1,266,389,252.73
Taxes and levies 7,653,755.04 4,248,625.13
Selling expense 91,909,154.03 88,479,571.30
Administrative expense 46,455,658.69 44,258,430.92
R&D expense 47,995,826.24 46,805,098.25
Finance costs 4,951,153.41 -6,848,347.17
Including: Interest expense 4,346,720.00 3,559,655.48
Interest income 4,277,801.43 2,747,522.82
Add: Other income 3,430,304.92 326,259.20
Return on investment (“-” for loss) 4,983,988.73 6,116,775.16
Including: Share of profit or loss of joint
ventures and associates
Income from the derecognition of
financial assets at amortized cost (“-” for loss)
Net gain on exposure hedges (“-” for loss)
Gain on changes in fair value (“-” for loss)
Credit impairment loss (“-” for loss) -6,897,540.23 -5,460,420.00
Asset impairment loss (“-” for loss) -16,871,000.79 -26,096.43
Asset disposal income (“-” for loss) 7,179.81 1,024,006.08
2. Operating profit (“-” for loss) 36,533,889.16 13,253,729.81
Add: Non-operating income 380,289.78 320,883.36
Less: Non-operating expense 5,865.58 168,334.64
3. Gross profit (“-” for loss) 36,908,313.36 13,406,278.53
Less: Income tax expense 3,114,992.90 -4,038,108.25
4. Net profit (“-” for net loss) 33,793,320.46 17,444,386.78
4.1 Net profit from continuing operations (“-” for
33,793,320.46 17,444,386.78
net loss)
4.2 Net profit from discontinued operations (“-” for
net loss)
5. Other comprehensive income, net of tax 22,732,693.67 30,999,075.00
31
Changchai Company, Limited Third Quarterly Report 2020
5.1 Items that will not be reclassified to profit or
22,732,693.67 30,999,075.00
loss
5.1.1 Changes caused by remeasurements on
defined benefit 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
22,732,693.67 30,999,075.00
other equity instruments
5.1.4 Changes in the fair value arising from
changes in own credit risk
5.1.5 Other
5.2 Items that will be reclassified to profit or loss
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 other debt
investments
5.2.3 Other comprehensive income arising from
the reclassification of financial assets
5.2.4 Credit impairment allowance for other debt
investments
5.2.5 Reserve for cash flow hedges
5.2.6 Differences arising from the translation of
foreign currency-denominated financial statements
5.2.7 Other
6. Total comprehensive income 56,526,014.13 48,443,461.78
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 accounting department: Jiang He
32
Changchai Company, Limited Third Quarterly Report 2020
7. Consolidated Cash Flow Statement for Q1~Q3
Unit: RMB
Item Q1~Q3 2020 Q1~Q3 2019
1. Cash flows from operating activities:
Proceeds from sale of commodities and rendering
1,611,643,141.67 1,364,093,458.22
of services
Net increase in customer deposits and deposits
from other banks and financial institutions
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, fees and commissions received
Net increase in loans from other banks and
financial institutions
Net increase in proceeds from repurchase
transactions
Net proceeds from acting trading of securities
Tax and levy rebates 21,886,374.72 23,791,753.91
Cash generated from other operating activities 11,604,073.90 12,148,649.31
Subtotal of cash generated from operating activities 1,645,133,590.29 1,400,033,861.44
Payments for commodities and services 1,284,823,979.81 1,269,133,440.46
Net increase in loans and advances to customers
Net increase in deposits in the central bank and
other banks and financial institutions
Payments for claims on original insurance
contracts
Net increase in loans to other banks and financial
institutions
Interest, fees and commissions paid
Policy dividends paid
Cash paid to and for employees 220,889,699.06 220,572,688.59
Taxes and levies paid 32,562,156.11 20,667,117.44
Cash used in other operating activities 89,171,955.10 66,561,945.90
33
Changchai Company, Limited Third Quarterly Report 2020
Subtotal of cash used in operating activities 1,627,447,790.08 1,576,935,192.39
Net cash generated from/used in operating activities 17,685,800.21 -176,901,330.95
2. Cash flows from investing activities:
Proceeds from disinvestment 29,773,443.16 17,900,000.00
Return on investment 5,503,903.85 6,480,702.52
Net proceeds from the disposal of fixed assets,
108,370.88 1,040,506.08
intangible assets and other long-lived assets
Net proceeds from the disposal of subsidiaries and
other business units
Cash generated from other investing activities 97,150.00
Subtotal of cash generated from investing activities 35,482,867.89 25,421,208.60
Payments for the acquisition of fixed assets,
114,151,611.40 16,317,913.12
intangible assets and other long-lived assets
Payments for investments 25,022,956.16 77,088,441.76
Net increase in pledged loans granted
Net payments for the acquisition of subsidiaries
and other business units
Cash used in other investing activities 930,300.00
Subtotal of cash used in investing activities 140,104,867.56 93,406,354.88
Net cash generated from/used in investing activities -104,621,999.67 -67,985,146.28
3. Cash flows from financing activities:
Capital contributions received
Including: Capital contributions by
non-controlling interests to subsidiaries
Borrowings received 20,000,000.00 19,000,000.00
Cash generated from other financing activities
Subtotal of cash generated from financing activities 20,000,000.00 19,000,000.00
Repayment of borrowings 20,000,000.00 44,500,000.00
Interest and dividends paid 2,280,722.28 18,854,400.12
Including: Dividends paid by subsidiaries to
non-controlling interests
Cash used in other financing activities
Subtotal of cash used in financing activities 22,280,722.28 63,354,400.12
Net cash generated from/used in financing activities -2,280,722.28 -44,354,400.12
4. Effect of foreign exchange rates changes on cash
-401,452.02
and cash equivalents
5. Net increase in cash and cash equivalents -89,618,373.76 -289,240,877.35
34
Changchai Company, Limited Third Quarterly Report 2020
Add: Cash and cash equivalents, beginning of the
545,959,998.20 691,266,373.34
period
6. Cash and cash equivalents, end of the period 456,341,624.44 402,025,495.99
Legal representative: Shi Xinkun General Manager: Zhang Xin
Head of the accounting department: Jiang He
35
Changchai Company, Limited Third Quarterly Report 2020
8. Cash Flow Statement of the Company as the Parent for Q1~Q3
Unit: RMB
Item Q1~Q3 2020 Q1~Q3 2019
1. Cash flows from operating activities:
Proceeds from sale of commodities and rendering
1,382,048,122.49 1,175,685,236.64
of services
Tax and levy rebates 14,909,572.36 17,666,191.34
Cash generated from other operating activities 7,698,523.96 7,495,628.63
Subtotal of cash generated from operating activities 1,404,656,218.81 1,200,847,056.61
Payments for commodities and services 1,108,481,874.19 1,132,183,895.35
Cash paid to and for employees 186,731,262.98 183,902,068.67
Taxes and levies paid 21,731,249.39 10,494,488.59
Cash used in other operating activities 78,159,754.99 50,986,232.72
Subtotal of cash used in operating activities 1,395,104,141.55 1,377,566,685.33
Net cash generated from/used in operating activities 9,552,077.26 -176,719,628.72
2. Cash flows from investing activities:
Proceeds from disinvestment 500,487.00
Return on investment 4,983,988.73 6,116,775.16
Net proceeds from the disposal of fixed assets,
107,470.88 1,024,006.08
intangible assets 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 5,591,946.61 7,140,781.24
Payments for the acquisition of fixed assets,
6,477,322.90 11,570,933.53
intangible assets and other long-lived assets
Payments for investments 115,000,000.00 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 121,477,322.90 71,570,933.53
Net cash generated from/used in investing activities -115,885,376.29 -64,430,152.29
3. Cash flows from financing activities:
Capital contributions received
Borrowings received 5,000,000.00 5,000,000.00
36
Changchai Company, Limited Third Quarterly Report 2020
Cash generated from other financing activities
Subtotal of cash generated from financing activities 5,000,000.00 5,000,000.00
Repayment of borrowings 5,000,000.00 28,500,000.00
Interest and dividends paid 951,674.34 17,594,013.63
Cash used in other financing activities
Subtotal of cash used in financing activities 5,951,674.34 46,094,013.63
Net cash generated from/used in financing activities -951,674.34 -41,094,013.63
4. Effect of foreign exchange rates changes on cash
-531,932.82
and cash equivalents
5. Net increase in cash and cash equivalents -107,816,906.19 -282,243,794.64
Add: Cash and cash equivalents, beginning of the
497,777,104.81 651,854,206.79
period
6. Cash and cash equivalents, end of the period 389,960,198.62 369,610,412.15
Legal representative: Shi Xinkun General Manager: Zhang Xin
Head of the accounting department: Jiang He
37
Changchai Company, Limited Third Quarterly Report 2020
II Adjustments to the Financial Statements
1. Adjustments to the Financial Statements at the Beginning of the Execution Year (2019) of the New
Accounting Standards Governing Financial Instruments, Revenue and Leases
√ Applicable □ Not applicable
Whether items of the balance sheets at the beginning of the year need adjustments
√ Yes □ No
Consolidated balance sheet
Unit: RMB
Item 31 December 2019 1 January 2020 Adjustment
Current assets:
Monetary assets 638,589,260.09 638,589,260.09
Settlement reserve
Loans to other banks and financial institutions
Held-for-trading financial assets 13,050,000.00 13,050,000.00
Derivative financial assets
Notes receivable 606,283,023.05 606,283,023.05
Accounts receivable 419,302,056.87 419,302,056.87
Receivables financing
Prepayments 12,968,746.16 12,968,746.16
Premiums receivable
Reinsurance receivables
Receivable reinsurance contract reserve
Other receivables 9,703,390.94 9,703,390.94
Including: Interest receivable
Dividends receivable
Financial assets purchased under resale
agreements
Inventories 473,359,168.90 473,359,168.90
Contract assets
Assets held for sale
Current portion of non-current assets
Other current assets 6,421,275.47 6,421,275.47
Total current assets 2,179,676,921.48 2,179,676,921.48
Non-current assets:
38
Changchai Company, Limited Third Quarterly Report 2020
Loans and advances to customers
Debt investments
Other debt investments
Long-term receivables
Long-term equity investments
Investments in other equity instruments 532,886,000.00 532,886,000.00
Other non-current financial assets 77,952,101.63 77,952,101.63
Investment property 48,447,666.83 48,447,666.83
Fixed assets 457,722,667.32 457,722,667.32
Construction in progress 91,358,156.24 91,358,156.24
Productive living assets
Oil and gas assets
Right-of-use assets
Intangible assets 99,699,450.26 99,699,450.26
Development costs
Goodwill
Long-term prepaid expense 53,497.80 53,497.80
Deferred income tax assets 1,023,863.04 1,023,863.04
Other non-current assets
Total non-current assets 1,309,143,403.12 1,309,143,403.12
Total assets 3,488,820,324.60 3,488,820,324.60
Current liabilities:
Short-term borrowings 22,000,000.00 22,000,000.00
Borrowings from the central bank
Loans from other banks and financial
institutions
Held-for-trading financial liabilities
Derivative financial liabilities
Notes payable 403,035,000.00 403,035,000.00
Accounts payable 525,625,016.89 525,625,016.89
Advances from customers 31,789,001.78 -31,789,001.78
Contract liabilities 31,789,001.78 31,789,001.78
Financial assets sold under repurchase
agreements
Customer deposits and deposits from other
39
Changchai Company, Limited Third Quarterly Report 2020
banks and financial institutions
Payables for acting trading of securities
Payables for underwriting of securities
Employee benefits payable 44,559,015.79 44,559,015.79
Taxes and levies payable 9,094,382.58 9,094,382.58
Other payables 205,064,145.10 205,064,145.10
Including: Interest payable
Dividends payable 3,891,433.83 3,891,433.83
Fees and commissions payable
Reinsurance payables
Liabilities directly associated with assets held
for sale
Current portion of non-current liabilities
Other current liabilities 1,177,712.38 1,177,712.38
Total current liabilities 1,242,344,274.52 1,242,344,274.52
Non-current liabilities:
Insurance contract reserve
Long-term borrowings
Bonds payable
Including: Preference shares
Perpetual bonds
Lease liabilities
Long-term payables
Long-term employee benefits payable
Provisions
Deferred income 58,864,111.22 58,864,111.22
Deferred income tax liabilities 57,082,890.27 57,082,890.27
Other non-current liabilities
Total non-current liabilities 115,947,001.49 115,947,001.49
Total liabilities 1,358,291,276.01 1,358,291,276.01
Owners’ equity:
Share capital 561,374,326.00 561,374,326.00
Other equity instruments
Including: Preference shares
Perpetual bonds
40
Changchai Company, Limited Third Quarterly Report 2020
Capital reserves 164,328,665.43 164,328,665.43
Less: Treasury stock
Other comprehensive income 317,059,775.00 317,059,775.00
Specific reserve 17,560,202.07 17,560,202.07
Surplus reserves 322,228,533.72 322,228,533.72
General reserve
Retained earnings 728,341,265.36 728,341,265.36
Total equity attributable to owners of the
2,110,892,767.58 2,110,892,767.58
Company as the parent
Non-controlling interests 19,636,281.01 19,636,281.01
Total owners’ equity 2,130,529,048.59 2,130,529,048.59
Total liabilities and owners’ equity 3,488,820,324.60 3,488,820,324.60
Balance sheet of the Company as the parent
Unit: RMB
Item 31 December 2019 1 January 2020 Adjustment
Current assets:
Monetary assets 584,957,678.96 584,957,678.96
Held-for-trading financial assets
Derivative financial assets
Notes receivable 576,948,023.05 576,948,023.05
Accounts receivable 337,447,538.04 337,447,538.04
Receivables financing
Prepayments 6,386,284.14 6,386,284.14
Other receivables 22,741,542.22 22,741,542.22
Including: Interest receivable
Dividends receivable
Inventories 368,653,472.39 368,653,472.39
Contract assets
Assets held for sale
Current portion of non-current assets
Other current assets 3,898,333.51 3,898,333.51
Total current assets 1,901,032,872.31 1,901,032,872.31
Non-current assets:
Debt investments
Other debt investments
41
Changchai Company, Limited Third Quarterly Report 2020
Long-term receivables
Long-term equity investments 252,752,730.03 252,752,730.03
Investments in other equity instruments 532,886,000.00 532,886,000.00
Other non-current financial assets 50,000,000.00 50,000,000.00
Investment property 48,447,666.83 48,447,666.83
Fixed assets 364,071,199.07 364,071,199.07
Construction in progress 89,330,161.60 89,330,161.60
Productive living assets
Oil and gas assets
Right-of-use assets
Intangible assets 70,169,770.91 70,169,770.91
Development costs
Goodwill
Long-term prepaid expense
Deferred income tax assets 970,026.67 970,026.67
Other non-current assets
Total non-current assets 1,408,627,555.11 1,408,627,555.11
Total assets 3,309,660,427.42 3,309,660,427.42
Current liabilities:
Short-term borrowings 5,000,000.00 5,000,000.00
Held-for-trading financial liabilities
Derivative financial liabilities
Notes payable 392,105,000.00 392,105,000.00
Accounts payable 481,854,210.18 481,854,210.18
Advances from customers 28,673,664.87 -28,673,664.87
Contract liabilities 28,673,664.87 28,673,664.87
Employee benefits payable 39,125,477.30 39,125,477.30
Taxes and levies payable 5,952,664.10 5,952,664.10
Other payables 192,046,130.29 192,046,130.29
Including: Interest payable
Dividends payable 3,243,179.97 3,243,179.97
Liabilities directly associated with assets held
for sale
Current portion of non-current liabilities
Other current liabilities
42
Changchai Company, Limited Third Quarterly Report 2020
Total current liabilities 1,144,757,146.74 1,144,757,146.74
Non-current liabilities:
Long-term borrowings
Bonds payable
Including: Preference shares
Perpetual bonds
Lease liabilities
Long-term payables
Long-term employee benefits payable
Provisions
Deferred income 58,864,111.22 58,864,111.22
Deferred income tax liabilities 55,951,725.00 55,951,725.00
Other non-current liabilities
Total non-current liabilities 114,815,836.22 114,815,836.22
Total liabilities 1,259,572,982.96 1,259,572,982.96
Owners’ equity:
Share capital 561,374,326.00 561,374,326.00
Other equity instruments
Including: Preference shares
Perpetual bonds
Capital reserves 183,071,147.70 183,071,147.70
Less: Treasury stock
Other comprehensive income 317,059,775.00 317,059,775.00
Specific reserve 17,560,202.07 17,560,202.07
Surplus reserves 322,228,533.72 322,228,533.72
Retained earnings 648,793,459.97 648,793,459.97
Total owners’ equity 2,050,087,444.46 2,050,087,444.46
Total liabilities and owners’ equity 3,309,660,427.42 3,309,660,427.42
2. Retrospective Adjustments to the Comparative Data of Prior Periods due to the First Execution in 2020
of the New Accounting Standards Governing Revenue and Leases
□ Applicable √ Not applicable
43
Changchai Company, Limited Third Quarterly Report 2020
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.
44
