Stock Code: 000625(200625) Abbreviated name of the stock: Changan Automobile(Changan B) Bulletin No.：2011-39
Chongqing Changan Automobile Limited Company
SUMMARY OF INTERIM REPORT 2011
§1. Important Notice
1.1 The Board of Directors, the Supervisory Committee and directors, supervisors as
well as senior managements of China International Marine Containers (Group) Co.,
Ltd. (hereinafter referred to as the Company) individually and collectively accepts
responsibility for the correctness, accuracy and completeness of the contents of this
report and confirm that there are neither material omissions nor errors which would
render any statement misleading.
The summary of interim report 2011 is abstracted from full text of the interim report,
which is published on the Internet website http://www.cninfo.com.cn in the mean
time. The investors are suggested to read the full text of interim report 20 11 to
understand more details.
1.2 No director, supervisor or senior management stated that he (she) c ould not ensure
the correctness, accuracy and completeness of the contents of the Interim Report or
have objection for this report.
1.3 All directors attended the Board meeting.
1.4 The financial report in this reporting period is unaudited.
1.5 Chairman Mr. Xu Liuping, General Manager Mr. Zhang Baolin,Chief Accountant Mr. Cui
Yunjiang, and the Chief of Accountant department,Mr. Hua Zhanbiao, herein guarantee:
guarantee the truthfulness and completeness of the financial statements of th is semi-annual
report.
1.6 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 General Introduction of the Company
2.1 General information to the Company
Secretaries of the Board Securities matters Representative
Name Cui Yunjiang, Li Jun
No. 260, Jian Xin East Road, Jiang Bei District,
Contact Address
Chongqing
Telephone （ 023） 67594009
Fax （ 023） 67866055
Email Address cazqc@changan.com.cn
1
2.2 Key Financial Data and Target
2.2.1 Key accounting data and financial target
Unit： （ RMB） Yuan
30 Jun. 2011 31 Dec. 2010 Increase/decrease (%)
Total assets 35,891,069,232.69 30,456,426,127.88 17.84%
Owners’ equity attributable to shareholders of
15,123,561,188.97 10,625,542,446.62 42.33%
the listed company
Share capital (share) 2,685,823,637.00 2,325,657,615.00 15.49%
Net assets per share attributable to shareholders
5.63 4.57 23.19%
of the listed company (Yuan/share)
Jan.-Jun. 2011 Jan.-Jun. 2010 Increase/decrease (%)
Total operating income 14,537,115,839.90 16,627,454,932.78 -12.57%
Operating profit 1,014,014,773.28 1,374,742,402.37 -26.24%
Total profit 1,119,500,684.54 1,371,628,474.32 -18.38%
Net profit attributable to shareholders of the
1,040,060,233.01 1,366,565,351.61 -23.89%
listed company
Net profit attributable to shareholders of the
listed company after deducting non -recurring 953,093,407.91 1,365,347,793.93 -30.19%
gains and losses
Basic earnings per share (Yuan/share) 0.22 0.28 -21.43%
Diluted earnings per share (Yuan/share) 0.22 0.28 -21.43%
Weighted average ROE (%) 7.42% 14.27% -6.85%
Weighted average ROE after deducting
6.80% 14.25% -7.45%
non-recurring gains and losses (%)
Net cash flows from operating activities 2,378,405,526.54 2,687,373,910.69 -11.50%
Net cash flows per share from operating
0.89 1.16 -23.28%
activities (Yuan/share)
Note 1: During the reporting period, the Company has issued additional 360,166,022 A -share in public, by the end
of this reporing period, total equ ity changed to 2,685,823,637 shares.
Note 2: The Company carried out the 2010 annual interest distribution between assets liabilities date and financial
reporting approval date, distribution of stock dividends, transferred by equity fund totally is 2,148, 658,909, total
equity changed to 4,834,482,546 shares, according to the stipulation of 《 No.9 rules of Company information
disposal audit which public offering of securities ---Calculation and Disposal of ROE and earning per share 》 (2010
version, above equity change is not influence the interest rates of the owner, it will be re-calculate earning per
share every compareing period on the basis of 4,834,482,546 .
2.2.2 Items and amounts of extraordinary gains and losses
2
√Applicable □Not Applicable
Unit： （ RMB） Yuan
Non-recurring gain and loss items Amount
Gain/loss of non-current assets 919,460.27
Government subsidies accounted into current gain/loss account, other than those closely related to the Company’s
88,857,908.34
common business, comply with the national policy and continues to enjoy at certain fixed rate or amount.
Other non-business income and expenditures other than the above 15,188,904.34
Influenced amount of income tax -17,087,610.78
Influenced amount of miniority shareholders’ equity -911,837.07
Total 86,966,825.10
2.2.3 Reconciliation of the net profits presented under the PRC accounting standards and International
Financial Reporting Standards (“IFRS”)
√Applicable □Not Applicable
Unit： （ RMB） Yuan
Net profits Net assets
Jan.-Jun., 2011 Jan.-Jun., 2010 As at 30 Jun. 2011 As at 31 Dec, 2010
Account report according to the international
1,040,060,233.01 1,366,565,351.61 15,052,277,123.97 10,554,258,381.62
finance report rules
Account report according to the enterprise
1,040,060,233.01 1,366,565,351.61 15,123,561,188.97 10,625,542,446.62
accounting rule and system under the PRC
Adjustment of according to international accounting rules ：
Payment to currency shareholders of A share
0.00 0.00 -71,284,065.00 -71,284,065.00
cash opposite price（Note ）
Total 0.00 0.00 -71,284,065.00 -71,284,065.00
Note Jiangling Holding company, the Company’s JV, held by Jiangling stake in listed companies the
Difference between Chinese and
right to paid circulation on the price in cash, according to international norms should be included in the
international accounting standard
profit and loss.
3 Change in shares and information about shareholders
3.1 Change in shares
√ Applicable □ Not Applicable
Balance before Balance after current
Addition and deduction（ +， -） during change
current change change
3
Transferred
Additional Bonus from
Quantity Ratio others subtotal quantity Ratio
issued share accumulated
fund
Ⅰ.Non-circulated shares 207,430,882 8.92% 207,430,882 7.72%
1、State-owned shares
2、State-owned legal person
207,421,301 8.92% 207,421,301 7.72%
shares
3、Other domestic holding
shares
including: domestic
non-state legal person
shares
Domestic natural person
shares
4、Foreign-hold shares
including: foreign legal
person shares
foreign natural person
shares
5、Senior Management
9,581 9,581
Shares
Ⅱ.Circulated shares 2,118,226,733 91.08% 360,166,022 360,166,022 2,478,392,755 92.28%
1、Domestic listed RMB
1,521,791,966 65.43% 360,166,022 360,166,022 1,881,957,988 70.07%
shares
2、Domestic listed foreign
596,434,767 25.65% 596,434,767 22.21%
shares
3、Oversea listed foreign
shares
4、Others
Ⅲ. Total shares 2,325,657,615 100.00% 360,166,022 360,166,022 2,685,823,637 100.00%
3.2 Shareholding information of top ten share holders and top ten shareholders of
unconditional shares
Unit: share
4
Persons in total 253,647, among of which A shareholder s are 213,204, B
Total shareholders number
shareholder is 40,443.
The top ten shareholders
Ratio of Total number of Pledged/
Nature of Total number
Name of shareholders total non-circulated Frozen shares
Shareholders of shares
share shares number
CHINA CHANGAN AUTOMOBILE State-owned legal
43.33% 1,163,787,489 207,421,301 0
GROUP COMPANYLIMITED person
Beijing North Jingji Investment State-owned legal
1.53% 41,000,000 0 0
Consultant CompanyLimited person
Agricultural Bank of China- Fullgoal Domestic non-state
1.41% 37,826,581 0 0
Tianrui Strong Area Hybrid Fund legal person
China South Industries Group Finance State-owned legal
1.30% 35,000,000 0 0
CompanyLimited person
Domestic non-state
PING AN TRUST CO., LTD. 0.74% 20,000,000 0 0
legal person
BONJOUR CHINA FUND2 Foreign legal person 0.62% 16,568,176 0 0
JPMBLSA RE FTIF TEMPLETON
Foreign legal person 0.61% 16,299,220 0 0
CHINA FUND GTI 5497
GUOTAI JUNAN
SECURITIES(HONGKONG) Foreign legal person 0.56% 15,002,796 0 0
LIMITED
FTIF TEMPLETON BRIC FUND Foreign legal person 0.52% 14,053,640 0 0
Bank Of China－E Fund SSE100ETF Domestic non-state
0.42% 11,406,823 0 0
Fund legal person
The top 10 holders of circulated shares
Total number of
Name of shareholders Share type
circulated shares
CHINA CHANGAN AUTOMOBILE GROUP
956,366,188 RMB ordinary share
COMPANYLIMITED
Beijing North Jingji Investment Consultant CompanyLimited 41,000,000 RMB ordinary share
Agricultural Bank of China- Fullgoal Tianrui Strong Area Hybrid
37,826,581 RMB ordinary share
Fund
China South Industries Group Finance CompanyLimited 35,000,000 RMB ordinary share
PING AN TRUST CO., LTD. 20,000,000 RMB ordinary share
5
BONJOUR CHINA FUND 2 16,568,176 Foreign capital stock listed within China
JPMBLSA RE FTIF TEMPLETON CHINA FUND GTI 5497 16,299,220 Foreign capital stock listed within China
GUOTAI JUNAN SECURITIES(HONGKONG) LIMITED 15,002,796 Foreign capital stock listed within China
FTIF TEMPLETON BRIC FUND 14,053,640 Foreign capital stock listed within China
Bank Of China－E Fund SSE100ETF Fund 11,406,823 RMB ordinary share
Among the top ten share holders, China Changan Automobile Group
CompanyLimited, Beijing North Jingji Investment Cons ultant
CompanyLimited, and China South Industries Group
Finance CompanyLimited are controlled by one common
Related partner relationship of the ten largest actual controller China South Industries Group. The
shareholders and their consistant act Companydid not know whether there was relationship among the large
ten circulated shareholders , and nor knew whether they were the parties
who agreed to act alike as stipulated in Administrative Measures on
Information Disclosure Concerning Changes in Shareholdings of Listed
Companies.
3.3 Changes of controlling shareholders and actual controllers
□ Applicable √ Not Applicable
§4 Information on Directors, Supervisors and Senior Management
4.1 Changes in share held by Directors, Supervisors and Senior Management
□ Applicable √ Not Applicable
§5 Report of the Board of Directs
5.1 The main business operation by industry or product
RMB: ten thousand
Distribution on industries
Change of Change of Change of operation
On industry or Operation
Turnover Operation cost income over cost over profit ratio over last
product profit ratio
last year % last year % year %
Vehicle
1,453,712.00 1,250,113.00 14.01% -12.57% -6.62% -5.48%
manufacturing
Distribution on products
6
Whole vehicles 1,393,987.00 1,200,636.00 13.87% -13.04% -6.74% -5.81%
others 59,724.00 49,477.00 17.16% -0.13% -3.65% 3.03%
5.2 The main business operation by area
RMB: ten thousand
Area Sales revenue Increase/Decrease
Domestic 1,427,272 -12.97%
Abroad 26,440 16.52%
5.3 Reasons of significant changes in main operations and its structure
□ Applicable √ Not Applicable
5.4 Reasons of significant changes in profitability capability of main operations (gross profit
ratio) than that in the last year
□ Applicable √ Not Applicable
5.5 Analysis to reasons of significant changes in profit structure compared with the
√ Applicable □ Not Applicable
5.6 Utilization of the raised proceeds
5.6.1 Utilization of the raised proceeds
√ Applicable □ Not Applicable
Unit: RMB ten thousand Yuan
Total of raised funds 344,558.69
Total invested raised funds in
Change use of the raised funds during 118,338.70
0.00 the reporting period
the reporting period
Total cumulative change use of the
raised funds during the reporting 0.00 Total cumulative invested
period raised funds in the reporting 118,338.70
Proportion compare to the Total Sum period
0.00%
use of the raised funds
Commitment Total total Investmen the date achie If the If there
investment projects projects commit investmen t amount cumulativ invest when ved expect are
7
and the use of raised change ment t after during the e ment projects benef ed significa
fund or not invest adjustmen reporting investmen progres achieve its in benefit nt
(incudi ment of t (1) period t up to the s usable the s has changes
ng raised end of the up to condition repor been in project
some funds period (2) the end ting achiev feasibilit
change) of the perio ed y
period d
(%)(3)
＝
(2)/(1)
Committed
investment projects
vehicle production
line technological Not
transformation NO 164,319 164,319 52,520.75 52,520.75 31.96% 2011.06.30 0.00 applic NO
project (increase of able
production capacity)
Small displacement Not
engine industry NO 197,911 197,911 65,817.95 65,817.95 33.26% 2011.04.30 0.00 applic NO
upgrade project able
Subtotal of the
commitment - 362,230 362,230 118,338.70 118,338.70 - - 0.00 - -
investment projects
Use of the excess
raised funds
Repayment of bank
- - - - -
loans (if any)
Additional working
- - - - -
capital (if any)
subtotal of excess
raised funds - - - - -
investment
Total - 362,230 362,230 118,338.70 118,338.70 - - - -
status and the reason
for timing schedule
or the expected NO
benefits not been
achieved (for each
8
project)
explaination for
significant changes
NO
of the project
feasibility
usage and using
Not applicable
progress of the
excess raised funds
change of project
Not applicable
site of the raised
funds investment
adjustment of the
implementation
Not applicable
means for raised
funds investment
projects
applicable
Pre-investment and On February 28, 2011, the Eighteenth Meeting of the Fifth Board of Directors passed the
replacement of the "The proposal of using raised funds to replace of the found for pre-self-financing
raised fund investment projects", agreed to use raised funds of 608,749,433.60 Yuan to replace
investment projects pre-self-financing invested fund (see bulletin No. : 2011-16). The mentioned funding
replacement was completed in March 2011.
Use leave-used
raised funds to Not applicable
makeup working
capital temporarily
the amount and the
reason for the fund
Not applicable
balance during raised
fund project
implementation
Use and destination Unused balance of raised funds has been deposited in raised fund special account bank, of which
of the unused raised 900 million yuan fixed deposits.
funds
existing problems or
other circumstances
NO
during use and
disclosure of raised
9
funds
5.6.2 Changes in projects
□ Applicable √ Not Applicable
5.7 Revised business plan of the Board for the second half of 20 11
□ Applicable √ Not Applicable
5.8 Estimation on accumulative net profit from the beginning of the year to the end of next
report period to be loss probably or the warning of its significant change compared with the
corresponding period of the last year and explanation on reason
□ Applicable √ Not Applicable
5.9 Explanation of the Management Team on “Qualified Opinion” from the Certified Public
Accountants in the report period
□ Applicable √ Not Applicable
5.10 Explanation of the Management Team on changes and solutions of the issues involved in
“Qualified Opinion” from the Certified Public Accountants in the last year
□ Applicable √ Not Applicable
§6 Important Events
6.1 Purchase, sales and reorganization of assets
6.1.1 Purchase of assets
□ Applicable √ Not Applicable
6.1.2 Sales of assets
□ Applicable √ Not Applicable
6.1.3 Progress of these events after the publication of the Assets Reorganization Report or
public notices on the purchases or sales of assets, as well as the influences of these events on the
operation results and financial status of the Company in the report period
□ Applicable √ Not Applicable
6.2 Important guarantee events
□ Applicable √ Not Applicable
6.3 Related credits and liabilities current
□ Applicable √ Not Applicable
6.4 Significant lawsuits and arbitrations
□ Applicable √ Not Applicable
10
6.5 Other important events as well as analyses and explanations on their influences and
solutions
□ Applicable √ Not Applicable
6.5.1 Securities investment
□ Applicable √ Not Applicable
6.5.2 Particulars about holding equity of other listed companies
√ Applicable □ Not Applicable
Unit： （ RMB） Yuan
Gain/loss
Change of
Initial Share Book value at of the Accounting Source of
Stock Code Stock ID owners’ equity in
investment portion the end of term report subject shares
the report term
term
South- west Disposable
600369 Secrities 50,000,000.00 0.76% 191,522,500.00 0.00 14,555,000.00 financial investment
Card asset
50,000,0 191,522,5
Total 50,000,000.00 - 14,555,000.00 - -
00.00 00.00
6.5.3 Statement of capital adoption by the main shareholder and its affiliates
□ Applicable √ Not Applicable
6.5.4 Additional commitments on trading moratorium made by the shareholders holding over
5% of the Company’s shares
√ Applicable □ Not Applicable
commit
Promisee Contents Fulfillments
ments
1. Comply with laws, regulations and rules, promises to fulfill
the statutory obligations. ⒉ The original non-tradable shares Up to the end of reporting period, China
can not be traded or transfered within at least 24 months Changan holds 1,163,787,489 shares,
Share after getting tradable right; After the expiration of 24 months, whose 855,666,188 shares is unlimited
reform non-tradable shares can be sold through the Stock tradable shares, the remaining
commitme Changan China Exchange, the number of total shares in 12 months does 207,421,301 shares are limited condition
nt not exceed five per cent of the company's total shares, and sale shares, according to the share reform
in 24 months does not exceed 10%.⒊ The Companywill management commitment will be lifted
implement management equity incentive plan, according to after the implementation of equity incentive
state related managing regulation and method after share plans Restricted.
reform.
Other South Group To avoid possible future potential competition in the According to the company's business
11
commitme industry, and support Changan Automobile development, development needs, on February 28 of
nt promises "Changan Automobile intend to acquire Baoding 2011, the 18th meeting of the fifth Board of
Changan Bus or Changan Kuayue, the Company agreed to Directors approved the acquisition of
promote the transfer at fair prices." Baoding Changan Bus and Changan
Kuayue’s equity (Announcement No. :
2011-15). The related transfer work is
ongoing.
On April 14 of 2011, the 19th meeting of
To improve the integrity of the company's assets and reduce
the fifth Board of Directors passed a bill on
the related party transactions, Changan industry on June 2,
Chongqing the trademark transfer contract
2010 issued the commitment about changing CHANGAN
Changan (Announcement No. :2011-20). The
trademark to Chongqing Changan Automobile Co., Ltd. It’s
Industrial contract decided total amount of trademark
committed the Companyis the only transferee of related
(Group) Co., transfer is 175 million Yuan. Currently, the
licensing trademark, and actively consulting trademark
LTD. related work of trademark transfer has bee
transfer.
n completed.
To avoid possible competition with the industry and better
safeguard the interests of corporate investors, the controlling
shareholder of China's Changan promises: ⒈ in Jiangxi
Changhe Automobile Co., Ltd. and Harbin Hafei Automobile
Industry Group Co., Ltd. are continuous two years of
Performance conditions have not yet
Changan China profitability, with sustained development and management
reached.
capacity has improved significantly in the case, so it’s
proposed the two companies into the Company; ⒉ When
Changan Peugeot Citroen Automobile Co., Ltd. was
completed and put into operation, it’s proposed to transfer all
the joint venture equity to the Company.
6.5.5 Proposal of profit distribution preplan or share conversion from capital public reserve in
the report period
□ Applicable √ Not Applicable
6.5.6 Other comprehensive income
In RMB Yuan
Items Occurred current term Occurred in previous term
1. Gains (losses) from sellable financial assets 14,555,000.00 -70,290,000.00
Less: Income tax influence of sellable financial assets 2,183,250.00 -10,543,500.00
Net amount written into other gains and transferred into gain/loss in previous terms 12,371,750.00 -59,746,500.00
Sub-total 12,371,750.00 -59,746,500.00
12
2. Shares in the other misc. income subjects in the investee on equity basis
Less: Income tax influence of shares in other gains of investees on equity basis
Net amount written into other gains and transferred into gain/loss in previous terms
Sub-total
3. Amount of gains (or losses) from cash flow hedge instrument
Less: Income tax influence of cash flow hedge instruments
Net amount written into other gains and transferred into gain/loss in previous terms
Adjusted amount transferred to initial amount of the target project
Sub-total
4. Difference from translating of foreign currency financial statements
Less: Net amount of disposing overseas business and transferred to current gain/loss
Sub-total
5. Others -16,116,840.95
Less: Income tax influence by other accounted into other misc. incomes
Net amount accounted into other misc. income and transferred into current gain/loss in previous
terms
Sub-total -16,116,840.95
Total 12,371,750.00 -75,863,340.95
6.6 In the report period, investigation, communication and interview of the Company
Date Location manner Reception object Content discussed and material offered
Shenzhen International Commerce
2011.1.4 One to one promotion Penghua Fund,Rongtong Fund Company’s Business introduction, analysis report of investment value
Center
Financial Street, Xicheng District,
2011.1.6 Beijing, Shanghai scheduled District One to one promotion Dongfang Fund,Taida Hongli Fund Company’s Business introduction, analysis report of investment value
Xizhimen North Street
Huayuan Shiqiao Road Pudong, Fuguo Fund, Huaan Fund, Huitianfu
2010.1.6 One to one promotion Company’s Business introduction, analysis report of investment value
Shanghai, Pudong South Road Fund, Pacific Assets
Fucheng road, Pudong of Shanghai, International Fund,
2011.1.7 One to one promotion Company’s Business introduction, analysis report of investment value
Yanan East Road Everbright Pramerica Fund
Guoxin Securities,
Meeting Room, Guangzhou Kim Understanding of industry and business conditions
2011.2.21 On-Site Survey
Changan Headquarters Investment Management
Co., Ltd.
2011.2.23 Meeting Room, On-Site Survey CITIC building Securities Understanding of industry and business conditions
13
Changan Headquarters Company
Meeting Room, Wide certification
2011.2.24 On-Site Survey Understanding of industry and business conditions
Changan Headquarters Securities AG
Meeting Room,
2011.2.24 On-Site Survey Gaohua Securities Understanding of industry and business conditions
Changan Headquarters
Meeting Room,
2011.3.16 On-Site Survey Kaiji Securities Understanding of industry and business conditions
Changan Headquarters
Meeting Room, China International
2011.3.22 On-Site Survey Understanding of industry and business conditions
Changan Headquarters Finance Corporation
Meeting Room,
2011.3.23 On-Site Survey Jinying Securities Understanding of industry and business conditions
Changan Headquarters
Meeting Room, High-Ling Capital Understanding of industry and business conditions
2011.3.29 On-Site Survey
Changan Headquarters Management
Meeting Room, Understanding of industry and business conditions
2011.4.20 On-Site Survey Fuda Capital Management
Changan Headquarters
2011.4.26 Chongqing Sovereign Hotel On-Site Survey Institutional Investors Understanding of industry and business conditions
Meeting Room,
2011.5.10 On-Site Survey UBS Securities Co., Ltd. Understanding of industry and business conditions
Changan Headquarters
Meeting Room, Woori Investment
2011.5.16 On-Site Survey Understanding of industry and business conditions
Changan Headquarters Securities
Meeting Room,
2011.5.17 On-Site Survey Deutsche Bank Understanding of industry and business conditions
Changan Headquarters
Meeting Room, Asiana large investment
2011.5.19 On-Site Survey Understanding of industry and business conditions
Changan Headquarters securities Company
Meeting Room, Morgan Stanley
2011.5.19 On-Site Survey Understanding of industry and business conditions
Changan Headquarters investment bank
Meeting Room,
2011.5.25 On-Site Survey CLSA Understanding of industry and business conditions
Changan Headquarters
Meeting Room,
2011.5.30 On-Site Survey UBS Securities Co., Ltd. Understanding of industry an d business conditions
Changan Headquarters
Rui Xun-Hua knowledge
Meeting Room,
2011.6.13 On-Site Survey Investment Consulting Understanding of industry and business conditions
Changan Headquarters
(Shanghai) Co., Ltd.
2011.6.23 Meeting Room, On-Site Survey Macquarie Securities Understanding of industry and business conditions
14
Changan Headquarters
Meeting Room,
2011.6.24 On-Site Survey Bank of Paris, France Understanding of industry and business conditions
Changan Headquarters
Meeting Room,
2011.6.24 On-Site Survey Changjiang Securites Understanding of industry and business conditions
Changan Headquarters
§7 Financial Report
7.1 Audit comments
Financial report √Unaudited □Audited
7.2 Financial Statements
7.2.1 CONSOLIDATED BALANCE SHEET
Chongqing Changan Automobile Company Limited
30, June 2011 Assets Balance Sheet
( Expressed in RMB Yuan )
At the end of term Beginning of term
Items Consolidated Parent company Consolidated Parent company
Current asset:
Monetary fund 8,219,955,550.23 6,154,655,990.54 4,391,990,049.72 3,087,748,588.31
Notes receivable 5,779,431,464.12 4,742,587,389.77 8,821,828,759.39 6,655,403,907.26
Account receivable 613,655,886.01 739,102,675.12 404,008,999.71 574,746,914.49
Prepayment 309,071,517.61 266,832,345.63 297,803,710.77 268,250,546.15
Dividend receivable 450,030.00 450,030.00 450,030.00 450,030.00
Other account receivable 366,491,561.14 365,632,122.56 117,659,705.04 101,280,817.11
Inventories 3,915,638,962.35 2,578,700,589.20 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 19,204,694,971.46 14,847,961,142.82 16,576,507,315.25 12,311,981,968.21
Non-current assets：
Disposable financial asset 191,522,500.00 191,522,500.00 176,967,500.00 176,967,500.00
Long-term share equity
investment 6,704,671,115.24 7,677,586,144.64 5,670,022,934.61 6,644,437,964.01
Property investment 59,730,189.47 62,762,382.76
Fixed assets 4,361,659,782.00 3,890,863,795.21 4,267,885,829.43 3,813,955,308.29
Construction in process 3,157,242,276.94 2,634,469,853.82 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 3,180.57 3,180.57
Intangible assets 1,271,375,280.93 1,142,906,864.58 922,184,553.37 779,656,835.85
15
R&D expense 338,274,931.75 338,052,489.24 204,312,934.30 204,121,260.99
Goodwill 9,804,394.00 9,804,394.00
Long-term prepaid expenses 4,947,954.69 990,440.00 2,484,457.43 1,080,480.00
Differed income tax asset 472,808,775.89 318,764,914.74 434,792,115.95 262,939,586.62
Other non-current asset 113,537,981.00 113,537,981.00 130,000,000.00 130,000,000.00
Total of non-current assets 16,686,374,261.23 16,309,490,881.98 13,879,918,812.63 13,576,883,159.12
Total of assets 35,891,069,232.69 31,157,452,024.80 30,456,426,127.88 25,888,865,127.33
Current liabilities：
Short-term loans 30,000,000.00
Notes payable 7,465,625,110.40 5,613,690,171.08 4,887,600,348.93 4,284,851,347.89
Account payable 6,575,927,933.23 4,591,607,469.01 7,666,813,508.07 4,848,629,265.23
Prepayment received 2,790,587,400.93 2,027,684,576.58 2,600,698,490.62 1,905,053,220.84
Employees’ wage payable 185,768,231.00 156,064,725.07 200,359,830.91 149,604,731.81
Tax payable -143,795,589.68 55,739,803.94 424,842,866.22 351,735,935.41
Interest payable 60,000.00 60,000.00
Dividend payable 79,742.80 79,742.80
Other account payable 1,092,360,112.47 640,759,513.93 1,117,041,448.96 766,343,334.06
Non-current liability due in 1 year 50,000,000.00 50,000,000.00
Other current liability 1,445,054,897.77 714,326,746.73 1,541,945,721.07 857,611,927.80
Total of current liability 19,411,607,838.92 13,799,873,006.34 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 18,495,263.09 18,495,263.09 19,167,000.00 19,167,000.00
Special payable 550,761,375.56 531,211,084.56 503,601,091.39 503,601,091.38
Expected liabilities 696,653,899.11 401,791,817.97 619,547,105.86 325,719,615.32
Differed income tax liability 25,296,375.00 25,296,375.00 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 1,403,179,912.76 1,068,764,540.62 1,353,401,322.25 963,570,831.70
Total of liability 20,814,787,751.68 14,868,637,546.96 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 4,635,970,740.41 4,806,065,820.20 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 6,634,755,387.56 7,629,913,596.64 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 15,123,561,188.97 16,288,814,477.84 10,625,542,446.62 11,711,404,532.59
16
Minor shareholders’ equity -47,279,707.96 -41,959,598.57
Total of owners’ equity 15,076,281,481.01 16,288,814,477.84 10,583,582,848.05 11,711,404,532.59
Total of liabilities and owners’
equity 35,891,069,232.69 31,157,452,024.80 30,456,426,127.88 25,888,865,127.33
7.2.2 Consolidated income statement
Chongqing Changan Automobile Company Limited
From January to June, 2011 PROFIT STATEMENT
(Expressed in RMB Yuan)
Current term Same period last year
Items Consolidated Parent company Consolidated Parent company
I. Total business income 14,537,115,839.90 11,068,721,114.58 16,627,454,932.78 11,242,504,620.75
Incl. Business income 14,537,115,839.90 11,068,721,114.58 16,627,454,932.78 11,242,504,620.75
II. Total business cost 14,563,749,247.25 11,010,585,614.47 16,260,772,013.79 10,863,723,696.48
Incl. Business cost 12,501,134,402.12 9,438,912,603.93 13,387,852,025.12 9,040,356,397.63
Business tax and surcharge 275,167,193.78 200,828,940.57 357,977,295.97 259,268,103.04
Sales expense 1,016,579,465.35 608,706,396.24 1,810,978,661.82 1,083,721,040.71
Administrative expense 849,054,595.79 840,177,215.73 721,615,349.36 543,393,337.92
Financial expenses -84,132,888.64 -83,986,020.85 -565,730.67 -35,911,495.01
Asset impairment loss 5,946,478.85 5,946,478.85 -17,085,587.81 -27,103,687.81
Plus: Gains from change of fair
value (“-“ for loss) 4,563,744.00
Investment gain (“-“ for loss) 1,040,648,180.63 1,029,384,263.96 1,003,495,739.38 992,273,032.91
III. Operational profit (“-“ for
loss) 1,014,014,773.28 1,087,519,764.07 1,374,742,402.37 1,371,053,957.18
Plus: Non business income 119,360,985.64 105,446,779.38 7,583,973.03 4,025,336.74
Less: Non-business expenses 13,875,074.38 11,296,243.31 10,697,901.08 6,509,739.05
Incl. Loss from disposal of
non-current assets 1,658,981.64 10,552.97 3,061,777.08
IV. Gross profit (“-“ for loss) 1,119,500,684.54 1,181,670,300.14 1,371,628,474.32 1,368,569,554.87
Less: Income tax expenses 84,760,560.93 62,218,864.23 22,650,916.03 9,117,719.08
V. Net profit (“-“ for net loss) 1,034,740,123.61 1,119,451,435.91 1,348,977,558.29 1,359,451,835.79
Net profit attributable to the
owners of parent company 1,040,060,233.01 1,119,451,435.91 1,366,565,351.61 1,359,451,835.79
Minor shareholders’ equity -5,320,109.40 -17,587,793.32
VI. Earnings per share:
(I) Basic earnings per share 0.22 0.28
(II) Diluted earnings per share 0.22 0.28
VII. Other misc. incomes 12,371,750.00 12,371,750.00 -75,863,340.95 -75,863,340.95
VIII. Total of misc. incomes 1,047,111,873.61 1,131,823,185.91 1,273,114,217.34 1,283,588,494.84
Total of misc. incomes
attributable to the owners of 1,052,431,983.01 1,131,823,185.91 1,290,702,010.66 1,283,588,494.84
the parent company
Total misc gains attributable to -5,320,109.40 -17,587,793.32
the minor shareholders
17
7.2.3 CONSOLIDATED CASH FLOW STATEMENT
Chongqing Changan Automobile Company Limited
From January to June, 2011
CASH FLOW STATEMENT
(Expressed 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 services 15,049,576,722.73 12,428,465,566.48 12,878,287,105.69 11,422,262,368.36
Tax returned 80,755,109.66 39,404,000.00 25,871,777.12
Other cash received from business
operation 281,467,088.44 256,477,663.60 154,597,784.42 50,715,275.98
Sub-total of cash inflow from business
activities 15,411,798,920.83 12,724,347,230.08 13,058,756,667.23 11,472,977,644.34
Cash paid for purchasing of
merchandise and services 9,372,501,842.27 8,243,641,271.81 7,025,953,870.17 6,301,692,529.40
Cash paid to staffs or paid for staffs 825,972,937.06 670,199,987.44 642,032,020.93 484,525,672.57
Taxes paid 1,019,084,870.77 732,784,268.78 1,128,844,421.45 789,035,660.48
Other cash paid for business activities 1,815,833,744.19 1,614,190,772.91 1,574,552,443.99 1,365,936,628.09
Sub-total of cash outflow from
business activities 13,033,393,394.29 11,260,816,300.94 10,371,382,756.54 8,941,190,490.54
Cash flow generated by business
operation, net 2,378,405,526.54 1,463,530,929.14 2,687,373,910.69 2,531,787,153.80
II. Cash flow generated by investing
Cash received from investment
retrieving 4,900,000.00 4,900,000.00
Cash received as investment gains 6,000,000.00 6,000,000.00 827,029,165.91 832,155,290.91
Net cash retrieved from disposal of
fixed assets, intangible assets, and
other long-term assets 3,738,720.05 22,490.62 11,843,177.68 10,750,089.68
Net cash received from disposal of
subsidiaries or other operational units
Other investment-related cash received 471,474,054.00 461,360,730.00
Sub-total of cash inflow due to
investment activities 481,212,774.05 467,383,220.62 843,772,343.59 847,805,380.59
Cash paid for construction of fixed
assets, intangible assets and other
long-term assets 1,859,838,889.50 1,794,209,253.54 767,014,993.08 659,139,599.99
Cash paid as investment 5,317,720.00 5,317,720.00 168,482,160.00 141,382,160.00
Net increase of loan against pledge
Net cash received from subsidiaries
and other operational units
Other cash paid for investment
activities 488,983,200.00 488,983,200.00
Sub-total of cash outflow due to
investment activities 2,354,139,809.50 2,288,510,173.54 935,497,153.08 800,521,759.99
Net cash flow generated by investment -1,872,927,035.45 -1,821,126,952.92 -91,724,809.49 47,283,620.60
III. Cash flow generated by financing
18
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 488,983,200.00 488,983,200.00 584,203,930.00
Cash received from bond placing
Other financing-related cash received 4,330,100.57 1,933,678.86 1,608,635.34 44,155.76
Subtotal of cash inflow from financing
activities 3,940,802,690.05 3,936,503,798.34 585,812,565.34 44,155.76
Cash to repay debts 616,558,000.00 510,558,000.00 555,807,718.50 39,000,000.00
Cash paid as dividend, profit, or
interests 1,429,611.10 261,333.33 168,058,219.00 155,122,263.94
Incl. Dividend and profit paid by
subsidiaries to minor shareholders
Other cash paid for financing activities 1,648,404.14 1,181,039.00 3,983,709.92 78,284.65
Subtotal of cash outflow due to
financing activities 619,636,015.24 512,000,372.33 727,849,647.42 194,200,548.59
Net cash flow generated by financing 3,321,166,674.81 3,424,503,426.01 -142,037,082.08 -194,156,392.83
IV. Influence of exchange rate
alternation on cash and cash
equivalents 1,320,334.61 -241,567.60
V. Net increase of cash and cash
equivalents 3,827,965,500.51 3,066,907,402.23 2,453,370,451.52 2,384,914,381.57
Plus: Balance of cash and cash
equivalents at the beginning of term 4,391,990,049.72 3,087,748,588.31 3,658,380,928.50 1,973,263,003.71
VI. Balance of cash and cash
equivalents at the end of term 8,219,955,550.23 6,154,655,990.54 6,111,751,380.02 4,358,177,385.28
19
7.2.4 Consolidated Statement of Change in Owners’ Equity
Chongqing Changan Automobile Company Limited
30 June 2011 CONSOLIDATED STATEMENT OF CHANGES IN SHAREHOLDERS’ EQUITY
(Expressed in Renminbi Yuan)
Amount of the Current Term Amount of Last Year
Owners’ Equity Attributable to the Parent Company Owners’ Equity Attributable to the Parent Company Minor Total
Capital Min or shareh of
Items Commo Total of Capital Commo
paid in Capital Less: Special sh areh o
Su rplu s n risk Retain e own ers’ paid in Capital Less: Special Su rplu s
n risk Retain e olders owners
(or reserve Sh ares reserve Oth ers lders’ (or reserve Sh ares reserve reserve Oth ers
reserves provisio d profit equ ity provisio d profit
sh are s in stock s equ ity sh are s in stock s s ’ ’
n n
capital) capital) equity equity
2,325,6 1,538,1 5,594,6 10,583, 2,334,0 1,693,3 1,167,01 3,632,6
1,167,01 -41,959, 26,925, 94,433, 8,894,55
I. Balance at th e en d of last 57,615. 78,253. 0.00 0.00 0.00 95,154. 0.00 582,848 22,848. 35,482. 1,424.0 76,370.
1,424.00 598.57 731.38 722.28 4,115.43
year 00 07 55 .05 00 05 0 48
Plu s: Ch an ge of accou n tin g 94,816,1 -94,816,
0.00 0.00
policy 11.02 111.02
Correctin g of previous errors 0.00 0.00
104,268 -8,721,9 48,606, 144,153,
0.00
Oth ers ,733.42 34.88 805.03 603.57
2,325,6 1,538,1 5,594,6 10,583, 2,334,0 1,797,6 1,167,01 3,718,7
1,167,01 -41,959, 26,925, 48,224, 9,038,70
II. Balan ce at th e beginn ing of 57,615. 78,253. 0.00 0.00 0.00 95,154. 0.00 582,848 22,848. 04,215. 0.00 1,424.0 0.00 70,546. 0.00
1,424.00 598.57 731.38 416.29 7,719.00
curren t year 00 07 55 .05 00 47 0 62
3,097,7 1,040,0 4,492,6 -259,42 1,875,9
360,166 -5,320,1 -8,365,2 -26,925, -90,184, 1,544,87
III. Ch an ged in th e cu rren t year 92,487. 0.00 0.00 0.00 0.00 60,233. 0.00 98,632. 5,962.4 0.00 0.00 0.00 24,607. 0.00
,022.00 09.40 33.00 731.38 014.86 5,129.05
(“ -“ for decrease) 34 01 95 0 93
1,040,0 1,034,7 2,026,9
-5,320,1 -21,239, 2,005,74
60,233. 40,123. 86,470.
09.40 321.03 7,148.99
(I) Net profit 01 61 02
12,371, 12,371, -52,051, -52,051,8
(II) Oth er misc. income 750.00 750.00 875.00 75.00
1,040,0 1,047,11 2,026,9
12,371, -5,320,1 -52,051, -21,239, 1,953,69
0.00 0.00 0.00 0.00 0.00 60,233. 0.00 1,873.6 0.00 0.00 0.00 0.00 0.00 86,470. 0.00
750.00 09.40 875.00 321.03 5,273.99
Total of (I) an d (II) 01 1 02
3,085,4 3,445,5
360,166 -8,365,2 -60,638, -26,925, -64,944, -107,022,
(III) In vestmen t or 20,737. 0.00 0.00 0.00 0.00 0.00 0.00 0.00 86,759. 0.00 0.00 0.00 0.00 0.00
,022.00 33.00 737.93 731.38 693.83 933.38
decreasin g of capital by own ers 34 34
3,085,4 3,445,5
360,166 -8,365,2 -18,560, -26,925,
1. Capital in pu tted by 20,737. 86,759. 0.00
,022.00 33.00 498.38 731.38
own ers 34 34
2. Amoun t of sh ares paid
an d accoun ted as own ers ’ 0.00 0.00
equ ity
-42,078, -64,944, -107,022,
0.00
3. Oth ers 239.55 693.83 933.38
-151,06
-4,000,0 -155,061,
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 1,862.0 0.00
00.00 862.09
(IV) Profit allotmen t 9
1. Providin g of surplu s
reserves
0.00 0.00
2. Common risk provision 0.00 0.00
3. Allotmen t to th e own ers 0.00 -151,06 -4,000,0 -155,061,
20
(or sh areh olders) 1,862.0 00.00 862.09
9
4. Oth ers 0.00 0.00
-146,73
-146,735,
(V) In tern al tran sferrin g of 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 5,349.4 0.00 0.00 0.00 0.00 0.00 0.00 0.00
349.47
own ers’ equ ity 7
1. Capitalizin g of capital
reserves (or to capital sh ares) 0.00 0.00
2. Capitalizin g of su rplus
reserves (or to capital sh ares)
0.00 0.00
3. Makin g u p losses by
su rplu s reserves
0.00 0.00
-146,73
-146,735,
0.00 5,349.4
349.47
4. Oth ers 7
(VI) Special re serves 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
1. Provided th is year 0.00 0.00
2. Used th is term 0.00 0.00
(Ⅶ ) Oth er 0.00 0.00
2,685,8 4,635,9 6,634,7 15,076, 2,325,6 1,538,1 1,167,01 5,594,6 10,583,5
1,167,01 -47,279, -41,959,
IV. Balan ce at th e en d of th is 23,637. 70,740. 0.00 0.00 0.00 55,387. 0.00 281,481 57,615. 78,253. 0.00 0.00 1,424.0 0.00 95,154. 0.00 82,848.0
1,424.00 707.97 598.57
term 00 41 56 .00 00 07 0 55 5
7.2.5 Statement of Change in Owners’ Equity
Chongqing Changan Automobile Company Limited
30 June 2011 STATEMENT OF CHANGES IN SHAREHOLDERS’ EQUITY
(Expressed in Renminbi Yuan)
Amount of the Current Term Amount of Last Year
Capital Capital
Commo Commo
paid in Less: Total of paid in Less: Total of
Items Capital Special Surplus n risk Retaine Capital Special Surplus n risk Retaine
(or Shares owners’ (or Shares owners’
reserves reserves reserves provisio d profit reserves reserves reserves provisio d profit
share in stock equity share in stock equity
n n
capital) capital)
I. Balance at the end of 2,325,657, 1,708,273, 1,167,011, 6,510,462, 11,711,404 2,334,022, 1,859,502, 26,925,73 1,167,011, 4,568,826, 9,902,436,
0.00 0.00 0.00
last year 615.00 332.86 424.00 160.73 ,532.59 848.00 088.33 1.38 424.00 240.68 869.63
Plus: Change of
0.00 0.00
accounting policy
Correcting of previous
0.00 0.00
errors
Others 0.00 0.00
II. Balance at the 2,325,657, 1,708,273, 1,167,011, 6,510,462, 11,711,404 2,334,022, 1,859,502, 26,925,73 1,167,011, 4,568,826, 9,902,436,
0.00 0.00 0.00 0.00 0.00
beginning of current year 615.00 332.86 424.00 160.73 ,532.59 848.00 088.33 1.38 424.00 240.68 869.63
III. Changed in the
360,166,0 3,097,792, 1,119,451, 4,577,409, -8,365,233 -151,228,7 -26,925,73 1,941,635, 1,808,967,
current year (“ -“ for 0.00 0.00 0.00 0.00 0.00 0.00 0.00
22.00 487.34 435.91 945.25 .00 55.47 1.38 920.05 662.96
decrease)
(I) Net profit 1,119,451, 1,119,451, 2,092,697, 2,092,697,
21
435.91 435.91 782.14 782.14
12,371,75 12,371,75 -52,051,87 -52,051,87
(II) Other misc. income 0.00 0.00 5.00 5.00
12,371,75 1,119,451, 1,131,823, -52,051,87 2,092,697, 2,040,645,
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total of (I) and (II) 0.00 435.91 185.91 5.00 782.14 907.14
(III) Investment or
360,166,0 3,085,420, 3,445,586, -8,365,233 -18,560,49 -26,925,73
decreasing of capital by 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
22.00 737.34 759.34 .00 8.38 1.38
owners
1. Capital inputted 360,166,0 3,085,420, 3,445,586, -8,365,233 -18,560,49 -26,925,73
0.00
by owners 22.00 737.34 759.34 .00 8.38 1.38
2. Amount of shares
paid and accounted as 0.00 0.00
owners’ equity
3. Others 0.00 0.00
-151,061,8 -151,061,8
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
(IV) Profit allotment 62.09 62.09
1. Providing of
0.00 0.00
surplus reserves
2. Common risk
0.00 0.00
provision
3. Allotment to the -151,061,8 -151,061,8
0.00
owners (or shareholders) 62.09 62.09
4. Others 0.00 0.00
(V) Internal
-80,616,38 -80,616,38
transferring of owners’ 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
2.09 2.09
equity
1. Capitalizing of
capital reserves (or to 0.00 0.00
capital shares)
2. Capitalizing of
surplus reserves (or to 0.00 0.00
capital shares)
3. Making up losses
0.00 0.00
by surplus reserves
-80,616,38 -80,616,38
0.00
4. Others 2.09 2.09
(VI) Special reserves 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
1. Provided this year 0.00 0.00
2. Used this term 0.00 0.00
(Ⅶ ) Other 0.00 0.00
IV. Balance at the end of 2,685,823, 4,806,065, 1,167,011, 7,629,913, 16,288,81 2,325,657, 1,708,273, 1,167,011, 6,510,462, 11,711,404
0.00 0.00 0.00 0.00 0.00 0.00
this term 637.00 820.20 424.00 596.64 4,477.84 615.00 332.86 424.00 160.73 ,532.59
22
7.3 Notes to financial report
7.3.1 There are any changes in accounting policies, accounting estimates and accounting errors, and the
relevant contents, reasons and the amount influenced.
□ Applicable √ Not Applicable
7.3.2 Should there be any changes in consolidation scope of the financial statements, give the reasons and
amount influenced.
√Applicable □Inapplicable
7.3.3 If to be produced with non-standard opinion without reservation, please list the relevant notes to the
involved events
□ Applicable √ Not Applicable
23