2011 First Quarter Report of
Chongqing Changan Automobile Company Limited
§1 Important Notes
1.1 The Board of Directors, the Supervisory Committee and directors, supervisors and senior management of
Chongqing Changan Automobile Company Limited (hereinafter referred to as “the Company”) warrant that this
report does not contain any false or misleading statements or omit any material facts and all information set forth
herein are true, accurate and complete.
1.2 Directors absent from the meeting.
Name of the Director Reasons for the absence Name of the consignee
Wang Chongsheng On Business
1.3 The financial statements of this quarter have not been audited.
1.4 Chairman Mr. Xu Liuping, General Manager Mr. Zhang Baolin, Chief Accountants Mr. Cui Yunjiang
and Mr.Hua Zhanbiao guarantee the truthfulness and completeness of the financial statements of the quarter
report.
1.5 The report shall be presented in both Chinese and English, and should there be any conflicting
understanding of the text, the Chinese version shall prevail.
§2 Company Profile
2.1 Main accounting data and financial indicators
In RMB Yuan
Ended this report term Ended previous year Changed by (%)
Gross Assets 37,217,849,002.51 30,456,426,127.88 22.20%
Owners’ Equity Attributable to the Parent
14,797,692,204.80 10,625,542,446.62 39.27%
Company
Share capital 2,685,823,637 2,325,657,615 15.49%
Net asset per share attributable to the
5.51 4.57 20.57%
owners of the parent company
This report term Same period last year Changed by (%)
Turnover 8,165,486,105.28 9,164,324,788.98 -10.90%
Net profit attributable to the owners of
722,338,338.70 796,039,049.40 -9.26%
parent company
Cash flow generated by business
1,585,493,593.08 338,203,897.92 368.80%
operation, net
Net Cash flow per share generated by
0.59 0.15 293.33%
business operation
Basic gains per share 0.27 0.34 -20.59%
Diluted gains per share 0.27 0.34 -20.59%
Net earnings / asset 6.57% 8.54% -1.97%
Net earnings / capital ratio after
6.18% 8.55% -2.37%
deducting of non-recurring gain/loss
Amount of the period
from the beginning of
Non-recurring gain and loss items
year to the end of report
term
Gain/loss of non-current assets 2,928,116.24
Government subsidies accounted into current gain/loss account, other than those closely related to the
Company’s common business, comply with the national policy and continues to enjoy at certain fixed 41,212,204.17
rate or amount.
Other non-business income and expenditures other than the above 8,406,103.50
1
Influenced amount of income tax -6,480,469.87
Influenced amount of miniority shareholders’ equity -3,016,239.72
Total 43,049,714.32
Reconciliation description under the PRC accounting standards and International Financial Reporting Standards
Mar.31,2011 2011 First
Accountant difference adjustment list Quarter
Net assets Net profits
Workout accountant according to the enterprise accounting rule and syatem under the
PRC 14,797,692,204.80 722,338,338.70
Adjustment of according to international accounting rules
Payment to currency shareholders of A share cash opposite price -71,284,065.00
Workout accountant according to the international finance report rules 14,726,408,139.80 722,338,338.70
2.2 Total number of shareholders at the end of the report period and statement on shares held by
the top ten tradable shareholders
Unit: share
Total shareholders number 249,600
Top ten shareholders of stock without limited sale
Name of shareholders Total number of shares without
Share type
condition of limited sale
CHINA CHANGAN AUTOMOBILE COMPANY
956,366,188 RMB Ordinary share
LIMITED
China Securities Co., Ltd. 65,268,879 RMB Ordinary share
Beijing Crystal Technology Investment Consulting Co.,
41,000,000 RMB Ordinary share
Ltd. North
China South Industries Group Corp. 35,000,000 RMB Ordinary share
DREYFUS PREMIER INVESTMENT FDS
25,863,160 Domestic listed foreign shares
INC.-DREYFUS GREATER CHINA FD
Ping An Trust Co., Ltd. 20,000,000 RMB Ordinary share
BONJOUR CHINA FUND 2 16,568,176 Domestic listed foreign shares
JPMBLSA RE FTIF TEMPLETON CHINA FUND GTI
16,274,020 Domestic listed foreign shares
5497
GUOTAI JUNAN SECURITIES(HONGKONG)
15,977,692 Domestic listed foreign shares
LIMITED
FTIF TEMPLETON BRIC FUND 13,603,440 Domestic listed foreign shares
§3 Important Matters
3.1 Significant changes in major accounting data, financial highlight and reason of these changes.
√Applicable □Not Applicable
Balance Sheet Items Mar. 31th 2011 Jan. 1th 2011 Changes
1 Monetary fund 8,624,181,787.20 4,391,990,049.72 96.36%
2 Account receivable 1,186,644,739.64 404,008,999.71 193.72%
3 Prepayment 504,803,648.97 297,803,710.77 69.51%
4 Inventories 3,699,330,573.57 2,536,336,767.24 45.85%
5 Capital reserves 4,627,823,650.55 1,538,178,253.07 200.86%
Income Statement Items Jan-Mar 2011 Jan-Mar 2010 Changes
2
6 Sales expense 399,034,334.52 973,327,096.97 -59.00%
7 Administrative expense -34,585,582.31 -13,123,482.47 -163.54%
8 Non business income 53,956,229.64 1,171,439.23 4505.98%
Cash Flow Statement Items Jan-Mar 2011 Jan-Mar 2010 Changes
Cash flow generated by business
9 operation, net
1,585,493,593.08 338,203,897.92 368.80%
Net cash flow generated by
10 investment
-1,099,393,537.69 -462,108,470.14 -137.91%
Net cash flow generated by
11 financing
3,745,963,681.14 -16,659,029.30 -22586.09%
Net increase of cash and cash
12 equivalents
4,232,191,737.48 -140,647,001.93 3109.09%
During reporting period, auto market become more steady than 2010, and mini vehicle market has been greatly impacted, due to
the cancel of preferential policy for auto sales, oil price rise and purchasing limit for smooth transportation in some cities. From Jan. to
Mar. of 2011, the company sold out 538,100 vehicles, down by 2.69% for the same period of last year.
By the end of report period, the company has total asset of 37.218 billion yuan, up by 22.20% for the beginning of the year; the
total liabilities are 22.467 billion yuan, up by 13.06%; the asset-liability ratio is 60.37%, down by 4.88%. The increase of monetary
capital and capital reserve are primarily caused by the company publicly issued additional A-share raise fund of 3.446 billion yuan at
the beginning of this year. The pre-payment rise is mainly due to increase of raw-material cost, such as steel cost. During the report
period, sales income has sharply slowed down compared with the same period of last year, due to mini-bus sale decrease. Financial
cost decrease is primarily caused by the increase of raise fund deposit interest. Increase of non-operating income is primarily due to the
company get more new-product subsidy from the government.
Within report period, the company realized currency and currency equivalents increase of 4.373 billion yuan, up by 31 times
compared with last period, the main reason are the receivable acceptance bill is due to cash, and capital-collect activities issue
additional shares to raise capital.
3.2 The progress and influence of significant events and the analysis and explanation on resolving proposal
3.2.1 Particular about Qualified Opinion
□Applicable √Not Applicable
3.2.2 Particular about fund offered to shareholder or its related parties by the Company and
external guarantee with procedure violation
□Applicable √Not Applicable
3.2.3 Particular about the significant contract of routine operation signed and implemented
□Applicable √Not Applicable
3.2.4 Others
√Applicable □Not Applicable
From January 7 to 11, 2011, the Company issued additional A shares to the public, the price of 9.74 yuan / share, totally issued
360,166,022 shares, raising 3,508,017,054.28 yuan, after deduction of issuance costs of 62,430,134.80Yuan, net raising capital is
3,445,586,919.48 yuan. The above raised funds have been designated to store in the designated account on January 18, 2011, and
signed tripartite governing agreements with the sponsor and the commercial banks. On February 28, 2011, the Eighteenth Meeting of
the fifth session of the Board passed "the Proposal of using raise funds to replace the self-financing", the Company agreed to use raise
funds of 608,749,433.60 yuan to replace the pre-investment self-financing of investment projects (see Bulletin No. :2011-16.)
Currently, the replacement has been completed.
3.3 The fulfillment of the commitment made by the Company, shareholders and the actual controller
√Applicable □Not Applicable
Commit Promisee
Content of commitments Implementation
ments
3
⒈To comply with laws, rules and regulations, and perform By the end of the reporting period, China
legal duty of commitment. Changan holds 1,163,787,489 shares of
the Company, of which 956,366,188
⒉ Since the non-circulated shares are entitled to be
shares are tradable shares, the remaining
promise circulated, at least they can’t be dealt with or transferred
207,421,301 shares are ed shares, and
of share within 24 months. At the expiration of 24 months, the
according to the share reform
China Changan shareholders of non-circulated shares can sell the shares in
management commitment, restriction will
split stock exchange in amount of no more than 5% of total within
be released after the implementation of
reform 12 months, and no more than 10% of total within 24 months.
equity incentive plans.
⒊After the reform of non-tradable shares, the Company
performs the scheme of incentive share awards for the
managements according to relative government regulation
To avoid the further potential industry competition and According to the demands of the
support the development of Changan Auto., the commitment Company’s business, on 28, Feb, 2011,
is “if Changan have a mind to purchase Baoding Changan 18th meeting of fifth session of the BOD
South Industries Bus or Changan Kuayue under our company, our company been hold and passed the proposal of
Group agrees to promote our underling companies to sale to acquisition of the equity of Baoding
Changan in fair price” Changan Bus and Changan Kuayue
(bulletin No: 2011-15). Currently,
corresponding evaluation is progressing.
In order to improve the company capital completion and On 14th Apri, 2011, 19th session of 5th BOD
Chongqing reduce transaction, Changan Industry issued<< Concerning approval the proposal of trade mark
Changan “Changan”etc. trademark transfer to Chongqing Changan transfer(bullet in :2011-20), according to the
Auto.CO. LTD promises letter>> on 2nd, Jun.2010, promised formal trademark transfer contract signed by
Other Industries Group Company is the unique assignee, and actively discuss the both parties, fixed the total price is
Commitmen Co., Ltd. transfer trademark. RMB175Million, and the procedures are
ts progressing.
To avoid and final settlement of intra-industry competition
may exist or potential competition in the industry and better
safeguard the interests of corporate investors, the controlling
shareholder of China Changan promises: ⒈ in Jiangxi
Changhe Automobile Co., Ltd. and Harbin Hafei Automobile
Industry Group Co., Ltd. are continuous Two years of Not yet reached the fulfillment of
China Changan profitability, with sustained development and management condition
capacity has improved significantly with the case, proposed
to the two companies into the Company; ⒉ Peugeot
Citroen Automobile Co., Ltd. Changan completed and put
into operation, the proposed joint venture held by shares All
transferred to the company.
3.4 Warnings of possible loss or large-margin change of the accumulated net profit made during the period from
the beginning of the year to the end of the next report period compared with the same period of the last year
according to prediction, as well as explanations on the reasons
□Applicable √Not Applicable
3.5 Other significant events need to be explained
3.5.1 Securities investment
□Applicable √Not Applicable
3.5.2 Interviews and visits in the reporting period
√Applicable □Not Applicable
Main content involved and material
Time/date Place Way Visitors
provided
Shenzhen international
One-to-one Describes Automotive Industry
2011.1.4 chamber of commerce Penghua Fund and Rongtong Fund
recommendations Development and Company’s Business
center
One-to-one Orient Fund and Manulife Teda Describes Automotive Industry
2011.1.6 Beijing sosong-guyok
recommendations Fund Development and Company’s Business
Fullgoal Fund、HuaAn Fund、China
Pudong new area of One-to-one Universal Asset Management Describes Automotive Industry
2.11.1.6
shanghai recommendations Co.,Ltd、China Pacific Development and Company’s Business
Insurance(group) Co.,Ltd
2.11.1.7 Pudong new area in One-to-one China International Fund、 Describes Automotive Industry
4
shanghai recommendations Everbright Pramerica Fund Development and Company’s Business
Meeting Room, GuoSen Securities、Guangzhou
Automotive Industry Development and
2011.2.21 On-Site Survey Long-term Investment Asset
Changan Headquarters Company’s Business
Management Co.,Ltd.
Meeting Room, Automotive Industry Development and
2011.2.23 On-Site Survey China Securities Co.,Ltd.
Changan Headquarters Company’s Business
Meeting Room, Automotive Industry Development and
2011.2.24 On-Site Survey GF Securities Co.,Ltd.
Changan Headquarters Company’s Business
Meeting Room, Automotive Industry Development and
2011.2.24 On-Site Survey Gao Hua Securities Co.,Ltd.
Changan Headquarters Company’s Business
Meeting Room, Automotive Industry Development and
2011.3.16 On-Site Survey KGI Securities Asia Co.,Ltd.
Changan Headquarters Company’s Business
Meeting Room, China International Capital Automotive Industry Development and
2011.3.22 On-Site Survey
Changan Headquarters Corporation Limited Company’s Business
Meeting Room, Automotive Industry Development and
2011.3.23 On-Site Survey Kim Eng Securities (H.K)Ltd.
Changan Headquarters Company’s Business
Meeting Room, Automotive Industry Development and
2011.3.29 On-Site Survey Hillhouse Capital Management
Changan Headquarters Company’s Business
Meeting Room, Fidelity asset management Automotive Industry Development and
2011.4.20 On-Site Survey
Changan Headquarters companies Company’s Business
3.5 Particulars about derivatives investment
□Applicable √Not Applicable
3.5.1Particulars about derivatives investment held at the end of report period
□Applicable √Not Applicable
5
§4. Attachment
4.1 Balance Sheet
Prepared by: CHONGQING CHANGAN AUTOMOBILE CO., LTD. Mar.31th 2011 in RMB yuan
At the end of term Beginning of term
Items
Consolidated Parent company Consolidated Parent company
Current asset:
Monetary fund 8,624,181,787.20 6,835,651,761.08 4,391,990,049.72 3,087,748,588.31
Settlement provision
Outgoing call loan
Trading financial assets
Notes receivable 7,392,827,262.71 5,861,183,600.36 8,821,828,759.39 6,655,403,907.26
Account receivable 1,186,644,739.64 1,342,365,893.12 404,008,999.71 574,746,914.49
Prepayment 504,803,648.97 349,308,845.82 297,803,710.77 268,250,546.15
Insurance receivable
Reinsurance receivable
Provisions of Reinsurance contracts receivable
Interest receivable
Dividend receivable 450,030.00 450,030.00 450,030.00 450,030.00
Other account receivable 836,891,939.27 853,428,118.92 117,659,705.04 101,280,817.11
Repurchasing of financial assets
Inventories 3,699,330,573.57 2,520,203,858.87 2,536,336,767.24 1,624,101,164.89
Non-current asset due in 1 year
Other current asset 6,429,293.38
Total of current asset 22,245,129,981.36 17,762,592,108.17 16,576,507,315.25 12,311,981,968.21
Non-current assets
Loans and payment on other’s behalf disbursed
Disposable financial asset 181,937,500.00 181,937,500.00 176,967,500.00 176,967,500.00
Expired investment in possess
Long-term receivable
Long-term share equity investment 6,199,139,636.88 7,173,554,666.28 5,670,022,934.61 6,644,437,964.01
Property investment 62,120,166.83 62,762,382.76
Fixed assets 4,277,306,245.62 3,827,281,051.81 4,267,885,829.43 3,813,955,308.29
Construction in process 2,457,529,861.93 1,989,159,849.41 1,997,902,631.46 1,562,928,324.61
Engineering material 795,898.75 795,898.75 795,898.75 795,898.75
Fixed asset disposal 17,988.51 3,180.57
Production physical assets
Gas & petrol
Intangible assets 890,924,389.38 755,472,337.02 922,184,553.37 779,656,835.85
R&D expense 247,089,530.51 246,897,857.20 204,312,934.30 204,121,260.99
Goodwill 9,804,394.00 9,804,394.00
Long-term prepaid expenses 5,545,256.42 1,035,460.00 2,484,457.43 1,080,480.00
Differed income tax asset 428,059,254.32 263,618,751.52 434,792,115.95 262,939,586.62
Other non-current asset 213,108,898.00 213,108,898.00 130,000,000.00 130,000,000.00
Total of non-current assets 14,973,379,021.15 14,652,862,269.99 13,879,918,812.63 13,576,883,159.12
Total of assets 37,218,509,002.51 32,415,454,378.16 30,456,426,127.88 25,888,865,127.33
6
Current liabilities
Short-term loans 30,000,000.00
Loan from Central Bank
Deposit received and hold for others
Call loan received
Trade off financial liabilities
Notes payable 6,128,330,633.48 5,052,360,943.30 4,887,600,348.93 4,284,851,347.89
Account payable 8,407,535,030.40 5,826,018,709.52 7,666,813,508.07 4,848,629,265.23
Prepayment received 2,902,581,772.48 2,165,286,743.41 2,600,698,490.62 1,905,053,220.84
Selling of repurchased financial assets
Fees and commissions receivable
Employees’ wage payable 140,258,679.40 104,805,791.16 200,359,830.91 149,604,731.81
Tax payable 381,580,276.90 397,822,464.98 424,842,866.22 351,735,935.41
Interest payable 60,000.00 60,000.00
Dividend payable 79,742.80 79,742.80
Other account payable 1,349,872,682.66 1,013,927,803.36 1,117,041,448.96 766,343,334.06
Reinsurance fee payable
Insurance contract provision
Entrusted trading of securities
Entrusted selling of securities
Non-current liability due in 1 year 50,000,000.00 50,000,000.00
Other current liability 1,760,430,726.15 882,250,494.17 1,541,945,721.07 857,611,927.80
Total of current liability 21,070,669,544.27 15,442,472,949.90 18,519,441,957.58 13,213,889,763.04
Non-current liabilities
Long-term borrowings 76,000,000.00
Bond payable
Long-term payable 17,292,939.23 17,292,939.23 19,167,000.00 19,167,000.00
Special payable 508,411,107.32 498,860,816.32 503,601,091.39 503,601,091.38
Expected liabilities 735,242,264.22 438,549,552.48 619,547,105.86 325,719,615.32
Differed income tax liability 23,858,625.00 23,858,625.00 23,113,125.00 23,113,125.00
Other non-recurring liabilities 111,973,000.00 91,970,000.00 111,973,000.00 91,970,000.00
Total of non-current liabilities 1,396,777,935.77 1,070,531,933.03 1,353,401,322.25 963,570,831.70
Total of liability 22,467,447,480.04 16,513,004,882.93 19,872,843,279.83 14,177,460,594.74
Owners’ equity (or shareholders’ equity)
Practical capital collected (or share capital) 2,685,823,637.00 2,685,823,637.00 2,325,657,615.00 2,325,657,615.00
Capital reserves 4,627,823,650.55 4,797,918,730.34 1,538,178,253.07 1,708,273,332.86
Less: Shares in stock
Special reserves
Surplus reserves 1,167,011,424.00 1,167,011,424.00 1,167,011,424.00 1,167,011,424.00
Common risk provision
Attributable profit 6,317,033,493.25 7,251,695,703.89 5,594,695,154.55 6,510,462,160.73
Different of foreign currency translation
Total of owner’s equity belong to the parent company 14,797,692,204.80 15,902,449,495.23 10,625,542,446.62 11,711,404,532.59
Minor shareholders’ equity -46,630,682.33 -41,959,598.57
Total of owners’ equity 14,751,061,522.47 15,902,449,495.23 10,583,582,848.05 11,711,404,532.59
Total of liabilities and owners’ equity 37,218,509,002.51 32,415,454,378.16 30,456,426,127.88 25,888,865,127.33
7
4.2 Income Statement of the report term
Prepared by: CHONGQING CHANGAN AUTOMOBILE CO., LTD.. Jan-Mar 2011 in RMB yuan
Current term Same period last year
Items
Consolidated Parent company Consolidated Parent company
I. Total business income 8,165,486,105.28 6,360,916,082.60 9,164,324,788.98 6,561,393,364.36
Incl. Business income 8,165,486,105.28 6,360,916,082.60 9,164,324,788.98 6,561,393,364.36
Interest income
Insurance fee earned
Fee and commission received
II. Total business cost 7,963,968,901.65 6,148,962,343.46 8,852,320,920.56 6,280,654,531.67
Incl. Business cost 7,069,663,634.34 5,410,117,348.12 7,336,615,167.39 5,224,644,307.43
Interest expense
Fee and commission paid
Insurance discharge payment
Net claim amount paid
Net insurance policy reserves provided
Insurance policy dividend paid
Reinsurance expenses
Business tax and surcharge 195,782,084.76 152,620,390.63 227,826,128.17 178,125,487.04
Sales expense 399,034,334.52 252,946,297.25 973,327,096.97 648,615,727.95
Administrative expense 334,074,430.34 369,094,237.74 327,676,010.50 245,426,424.52
Financial expenses -34,585,582.31 -35,815,930.28 -13,123,482.47 -16,157,415.27
Asset impairment loss
Plus: Gains from change of fair value (“-“ for loss) 1,383,528.00
Investment gain (“-“ for loss) 529,116,702.27 529,116,702.27 540,349,306.06 540,349,306.06
Incl. Investment gains from affiliates 529,116,702.27 529,116,702.27 518,194,015.15 518,194,015.15
Gains from currency exchange (“-“ for loss)
III. Operational profit (“-“ for loss) 730,633,905.90 741,070,441.41 853,736,702.48 821,088,138.75
Plus: Non business income 53,956,229.64 44,325,480.62 1,171,439.23 943,731.93
Less: Non-business expenses 2,261,105.63 80,552.97 4,952,249.33 1,119,300.00
Incl. Loss from disposal of non-current assets 1,608,059.35 10,552.97 3,058,055.01
IV. Gross profit (“-“ for loss) 782,329,029.91 785,315,369.06 849,955,892.38 820,912,570.68
Less: Income tax expenses 64,661,774.97 44,081,825.90 52,092,989.28 45,201,303.73
V. Net profit (“-“ for net loss) 717,667,254.94 741,233,543.16 797,862,903.10 775,711,266.95
Net profit attributable to the owners of parent company 722,338,338.70 741,233,543.16 796,039,049.40 775,711,266.95
Minor shareholders’ equity -4,671,083.76 1,823,853.70
VI. Earnings per share:
(I) Basic earnings per share 0.27 0.34
(II) Diluted earnings per share 0.27 0.34
VII. Other misc. incomes 4,224,500.00 4,224,500.00 -18,255,875.00 -18,255,875.00
VIII. Total of misc. incomes 721,891,754.94 745,458,043.16 779,607,028.10 757,455,391.95
Total of misc. incomes attributable to the owners of
the parent company 726,562,838.70 745,458,043.16 777,783,174.40 757,455,391.95
Total misc gains attributable to the minor shareholders -4,671,083.76 1,823,853.70
8
4.3 Cash Flow Statement from the beginning of year to the end of report term.
Prepared by: Prepared by: CHONGQING CHANGAN AUTOMOBILE CO., LTD.. Jan-Mar 2011 in RMB yuan
Current term Same period last year
Items
Consolidated Parent company Consolidated Parent company
I. Net cash flow from business operation
Cash received from sales of products and providing of
8,161,964,044.11 6,674,002,163.20 5,974,406,702.34 5,177,001,985.20
services
Net increase of customer deposits and capital kept for
brother company
Net increase of loans from central bank
Net increase of inter-bank loans from other financial
bodies
Cash received against original insurance contract
Net cash received from reinsurance business
Net increase of client deposit and investment
Net increase of trade financial asset disposal
Cash received as interest, processing fee, and commission
Net increase of inter-bank fund received
Net increase of repurchasing business
Tax returned 59,645,292.11 39,404,000.00 8,698,847.07
Other cash received from business operation 28,548,619.50 17,430,103.72 80,557,894.53 11,384,848.34
Sub-total of cash inflow from business activities 8,250,157,955.72 6,730,836,266.92 6,063,663,443.94 5,188,386,833.54
Cash paid for purchasing of merchandise and services 4,739,199,745.77 4,183,202,621.59 3,844,480,716.34 3,404,301,773.74
Net increase of client trade and advance
Net increase of savings in central bank and brother
company
Cash paid for original contract claim
Cash paid for interest, processing fee and commission
Cash paid for policy dividend
Cash paid to staffs or paid for staffs 461,063,749.28 378,089,319.86 336,885,657.30 282,480,666.37
Taxes paid 639,037,417.01 431,987,515.62 720,607,843.29 610,776,497.69
Other cash paid for business activities 825,363,450.58 766,700,932.04 823,485,329.09 712,565,543.53
Sub-total of cash outflow from business activities 6,664,664,362.64 5,759,980,389.11 5,725,459,546.02 5,010,124,481.33
Cash flow generated by business operation, net 1,585,493,593.08 970,855,877.81 338,203,897.92 178,262,352.21
II. Cash flow generated by investing
Cash received from investment retrieving 0.00 0.00 4,900,000.00 4,900,000.00
Cash received as investment gains 22,155,290.91 22,155,290.91
Net cash retrieved from disposal of fixed assets, intangible
3,738,720.05 22,490.62 11,660,177.76 10,652,517.03
assets, and other long-term assets
Net cash received from disposal of subsidiaries or other
operational units
Other investment-related cash received 21,232,324.00 21,119,000.00
Sub-total of cash inflow due to investment activities 24,971,044.05 21,141,490.62 38,715,468.67 37,707,807.94
Cash paid for construction of fixed assets, intangible
1,123,045,741.74 1,093,644,360.67 494,273,938.81 433,144,872.32
assets and other long-term assets
Cash paid as investment 1,318,840.00 1,318,840.00 6,550,000.00 6,550,000.00
Net increase of loan against pledge
Net cash received from subsidiaries and other operational
units
Other cash paid for investment activities
9
Sub-total of cash outflow due to investment activities 1,124,364,581.74 1,094,963,200.67 500,823,938.81 439,694,872.32
Net cash flow generated by investment -1,099,393,537.69 -1,073,821,710.05 -462,108,470.14 -401,987,064.38
III. Cash flow generated by financing
Cash received as investment 3,447,489,389.48 3,445,586,919.48
Incl. Cash received as investment from minor shareholders
Cash received as loans 474,778,740.00 474,778,740.00 190,204,176.00
Cash received from bond placing
Other financing-related cash received 2,500,302.24 1,933,678.86 621,759.78 1,637.47
Subtotal of cash inflow from financing activities 3,924,768,431.72 3,922,299,338.34 190,825,935.78 1,637.47
Cash to repay debts 177,119,000.00 71,119,000.00 197,922,744.00
Cash paid as dividend, profit, or interests 1,429,611.10 261,333.33 9,520,276.14 3,769,875.00
Incl. Dividend and profit paid by subsidiaries to minor
shareholders
Other cash paid for financing activities 256,139.48 50000 41,944.94
Subtotal of cash outflow due to financing activities 178,804,750.58 71,430,333.33 207,484,965.08 3,769,875.00
Net cash flow generated by financing 3,745,963,681.14 3,850,869,005.01 -16,659,029.30 -3,768,237.53
IV. Influence of exchange rate alternation on cash and cash
128,000.95 -83,400.41
equivalents
V. Net increase of cash and cash equivalents 4,232,191,737.48 3,747,903,172.77 -140,647,001.93 -227,492,949.70
Plus: Balance of cash and cash equivalents at the
4,391,990,049.72 3,087,748,588.31 3,460,500,078.68 1,973,263,003.71
beginning of term
VI. Balance of cash and cash equivalents at the end of
8,624,181,787.20 6,835,651,761.08 3,319,853,076.75 1,745,770,054.01
term
4.4 Auditors’Report Auditing Opinion: Unaudited
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