2014 First Quarter Report ofChongqing 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 All the members of the Board of Directors attended the meetings of BOD.
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. Wang Kun 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
This report term Same period last year Changed by (%)
Turnover 12,190,744,951.20 10,177,172,661.12 19.79%
Net profit attributable to the owners of
1,972,655,941.55 548,659,958.77 259.54%
parent company
Net profit attributable to the shareholders
of the listed company and after deducting 1,913,375,369.83 523,388,368.83 265.57%
of non-recurring gain/loss
Cash flow generated by business operation,
406,079,486.24 1,500,799,885.25 -72.94%
net
Basic gains per share 0.42 0.12 250.00%
Diluted gains per share 0.42 0.12 250.00%
Net earnings / asset 9.98% 3.48% 6.50%
Ended this report term Ended previous year Changed by (%)
Gross Assets 57,692,033,567.43 53,364,694,275.91 8.11%
Owners’ Equity Attributable to the Parent
20,722,692,556.69 18,778,354,427.88 10.35%
Company
Accidental gain/loss item and amount
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 -182,973.40
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 21,108,687.60
rate or amount.
Investment income from the fair value changes of held for trading financial assets or liabilities, and the
31,653,150.31
disposal of held for trading financial assets, liabilities or available for sale financial assets(Note)
Other non-business income and expenditures other than the above 14,997,377.93
Less: Influenced amount of income tax 6,658,265.54
Influenced amount of miniority shareholders’ equity 1,637,405.18
Total 59,280,571.72
Note: Investment gain is obtained from 4 million shares of Huaxia Bank sold by Changan Bus.
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
1
During the report period, the total Ttotaled146,924, of which130,245 was A share shareholders and 16,679 were B share
number of shareholders shareholders.
Top 10 Shareholders
Properties of Shareholding Number of Conditional Pledging or freezing
Name of the shareholder
shareholder (%) shares shares Share status Amount
State-owned
China Changan Automobile Co., Ltd. 41.00% 1,911,645,580 373,358,342
legal person
VALUE PARTNERS CLASSIC Foreign legal
1.44% 67,257,418
FUND person
Foreign legal
ZhongHui Fortis Investment Co., Ltd 1.14% 53,179,700
person
Domestic
National Social Security Fund-
non-state-owned 1.12% 52,014,507
Portfolio 102
legal person
Agricultural Bank of China—Bank of Domestic
Communications Schroeder growth non-state-owned 0.97% 45,187,523
stock securites investment fund legal person
Domestic
Boshi value growth securites
non-state-owned 0.88% 41,218,263
investment fund
legal person
Domestic
HTHK-MANULIFE CHINA VALUE
non-state-owned 0.87% 40,397,327
FUND
legal person
Domestic
Bank of communications－Huaan
non-state-owned 0.79% 36,894,329
Tactical Select Fund
legal person
HSBC GLOBAL INVESTMENT Foreign legal
0.75% 35,158,776
FUNDS - CHINESE EQUITY person
Foreign legal
MANULIFE GLOBAL FUND 0.74% 34,559,769
person
Top 10 holders of unconditional shares
Amount of shares Category of shares
Name of the shareholder without sales
restriction Category of shares Amount
China Changan Automobile Co., Ltd. 1,538,287,238RMB Ordinary share 1,538,287,238
Domestic listed foreign
VALUE PARTNERS CLASSIC FUND 67,257,418 67,257,418
shares
Domestic listed foreign
ZhongHui Fortis Investment Co., Ltd 53,179,700 53,179,700
shares
National Social Security Fund- Portfolio 102 52,014,507RMB Ordinary share 52,014,507
Agricultural Bank of China—Bank of Communications Schroeder Domestic listed foreign
45,187,523 45,187,523
growth stock securites investment fund shares
Boshi value growth securites investment fund 41,218,263RMB Ordinary share 41,218,263
Domestic listed foreign
HTHK-MANULIFE CHINA VALUE FUND 40,397,327 40,397,327
shares
Bank of communications
36,894,329RMB Ordinary share 36,894,329
－Huaan Tactical Select Fund
Domestic listed foreign
HSBC GLOBAL INVESTMENT FUNDS - CHINESE EQUITY 35,158,776 35,158,776
shares
Domestic listed foreign
MANULIFE GLOBAL FUND 34,559,769 34,559,769
shares
Explanation on the relationship and the action alike of above Among the top 10 shareholders, China Changan Automobile
shareholders Group Co., Ltd., the controlling shareholder, and its wholly
2
owned subsidiary Zhonghui Futong Investment Co., Ltd. belong
to the concerted actor regulated by “Disclosure Administration of
Shares Change Information of The Listed Company”.
§3 Important Matters
3.1 Significant changes in major accounting data, financial highlight and reason of these changes.
√Applicable □Not Applicable
In RMB Yuan
Balance Sheet Items Mar. 31th 2014 Jan. 1th 2013 Changes
1 Accounts receivable 699,008,005.03 380,017,320.86 83.94%
2 Other receivables 141,593,172.89 208,009,273.35 -31.93%
3 Other non-current assets 687,162,585.10 244,336,881.52 181.24%
4 Payroll payable 441,321,628.53 790,299,118.95 -44.16%
5 Taxes payable 394,440,940.16 131,096,474.84 200.88%
6 Interest payables 104,825,379.17 78,113,712.49 34.20%
7 Other payables 914,816,460.63 1,631,578,755.92 -43.93%
Income Statement Items Jan-Mar 2014 Jan-Mar 2013 Changes
8 Business tax and surcharges 472,430,434.79 354,126,567.59 33.41%
9 Financial expenses 52,575,370.68 29,891,157.71 75.89%
10 Investment income 2,074,039,126.10 635,318,795.87 226.46%
11 Operating profit 1,922,474,911.45 533,916,777.66 260.07%
12 Total profit 1,958,398,002.58 558,443,317.29 250.69%
13 Income tax expense -5,659,865.06 13,406,178.34 -142.22%
14 Net profit 1,964,057,867.64 545,037,138.95 260.35%
15 Net profit attributable to owners 1,972,655,941.55 548,659,958.77 259.54%
Cash Flow Statement Items Jan-Mar 2014 Jan-Mar 2013 Changes
Cash flow generated by business
16 operation, net
406,079,486.24 1,500,799,885.25 -72.94%
17 Net cash flow generated by investment -838,062,831.25 -554,775,406.72 -51.06%
18 Net cash flow generated by financing -48,725,815.51 -54,800,368.47 11.08%
19 Net increase of cash and cash equivalents -479,763,634.52 891,135,752.41 -153.84%
As at the end of reporting period, the Company’s total asset is 57.7 Billion Yuan, with 8.11% growth comparing with the
beginning of the year; total liability is 37.1 Billion Yuan, with 6.89% growth comparing with the beginning of the year; the debt asset
ratio is 64.34%, which is 0.74% lower than that at the beginning of the year. Comparing with beginning of the year, huge increase of
accounts receivable is mainly due to the substantial growth on car sales; huge increase of other current asset is mainly due to
prepayment of acquisition of Hefei Changan; huge reduction of payroll payable is mainly due to the payment of salary and bonus
accrued last year; increase of tax payable is mainly due to the increase of VAT payable; decrease of other payable is due to the payment
of expense, such as construction expense, processing expense and advertising expense et al.
During the reporting period, as the profit of Changan Ford, the joint venture, increased sharply, the investment gain, operating
profit, total profit and net profit attributable to owners increased a lot accordingly. The increase of business tax and surcharges was due
to the increase of consumption tax resulted from the growth of sales and the increased portion of cars charged with higher tax rate;
increase of borrowing from financial institute resulted in the increase of financial expenses; the decrease of corporate income tax is due
to the increase of deferred income tax assets.
During the reporting period, the cash and cash equivalent decrease 1.37 Billion Yuan, a year-on-year decrease of 153.8%, mainly
resulting from the net cash flow generated from operating activities decreased 1.09 Billion Yuan. And the decrease of net cash flow
generated from operating activities is mainly due to the increased payments of 0.449 Billion Yuan for staff costs and 0.365 Billion Yuan
for tax and surcharges.
3.2 The progress and influence of significant events and the analysis and explanation on resolving proposal
√Applicable □Not Applicable
On February 28 of 2014, the 16th meeting of the sixth board of directors of the company examined and approved the bill of
3
purchasing 100% stakes of Hefei Changan Automobile Co., LTD., and the company raises funds by itself to buy 100% stakes of
Hefei Changan held by CCAG. Up to this announcement, the company has completed all equity transfer payments and industry and
commerce alteration registration procedures of equity delivery. Details please refer to relevant announcements of tidal wave in the
web of www.cninfo.com.cn.
Description of the Important Items Disclosure Date Interim reports disclosure Web Query
1. The associated transaction
announcement about purchasing 100%
2014.3.8 http://www.cninfo.com.cn/finalpage/2014-03-08/63650851.PDF
stakes of Hefei Changan Automobile Co.,
LTD.
2. The associated transaction progress
announcement about purchasing 100%
2014.4.30 http://www.cninfo.com.cn/finalpage/2014-4-30
stakes of Hefei Changan Automobile Co.,
Ltd.
3.3 Commitments make within the report period or persisted to the period by the Company
or shareholder with over 5 percent shares held
√Applicable □Not Applicable
Commitment Item Promisee Promise content Performance
1.Will abide by the laws, regulations and rules, to
By the end of reporting term,
perform the legal obligations.2. Held by the original
Limited conditions of the sale of
non-tradable shares from obtaining the right to list and
shares of the company held by the
trade date, At least 24 months is not publicly traded or
shareholders of China Changan
transferred, The 24 months after the expiration of the
1,913,557,480shares, The
term of, Non-tradable shareholders stock exchange
1,538,287,238conditions for the
The commitments of through the sale of shares, The sale of shares of the
China Changan unlimited sale of shares, The
stock reform company accounted for the proportion of the total
remaining 373,358,342 shares for
number of within 12 months and not more than five
the limited conditions of the sale of
percent, In 24 months of no more than ten percent,3.
shares, According to the
Company in the shares changed after the completion
commitments to the management
of According to the national related management
equity incentive plan implemented
systems and methods for implementing the
after the lifting of restrictions on sale
management equity incentive plan
On 28TH ,Oct,2013, The controlling
shareholders China Changan have
order to avoid and eventually solve the possible
transfer tthe Jiangxi Changhe Auto.
competition or potential competitors, Better maintain
Co. Ltd to Jiangxi provincial
the interests of investors, the company controlling
state owned enterprise assets. China
shareholder China Changan commitment: In two
Other small Changan proposed Jiangxi Changhe
consecutive years profit of Jiangxi Changhe
shareholders China Changan Automobile Co. Ltd. injected
Auto.CO.Ltd and Harbin Hf Automobile Industry
commitment commitment matters of the company
Group Co, With the continuous development ability
have been removed. The Harbin Hf
and management level is improved significantly under
Automobile Industry Group Co at
the condition of, Proposed that two enterprises into the
present is still running at a loss, The
company.
conditions have not yet reached the
profitable for two consecutive years.
If the Changan Peugeot Citroen in 2013 for li In 2013, Changan Peugeot Citroen
sting Corporation contribution to investment incom for the company contribution to
Other small e lower than -12500.,(ten thousand Yuan), investment income of RMB -5058
shareholders China Changan ten thousand yuan, Not less than
2014 investment listing Corporation contributions earn
commitment Chinese Changan promised lowest
less than -17500 (ten thousand Yuan), China Changan
return on investment of -12500 ten
promised to make up the difference in cash.
thousand yuan.
3.4 Forecast of operation performance from Jan. – June of 2014
□Applicable √Not Applicable
3.5 Securities Investment
□Applicable √Not Applicable
Holding other listing Corporation ownership situation description
4
√Applicable □Non-applicable
Opening Opening Closing Closing
Gain/loss in
Company Company equity equity equity equity Closing book the reporting Equity
value (RMB Accounting title
name variety Holdings holding ratio holdings Holdings period (RMB source
Yuan)
(%) Yuan)
(share) (share) （%）
Southwest Securities Tradable
17,750,000 0.76% 17,750,000 0.63% 148,567,500 Initial investment
Securities Firm financial assets
Tradable
The 2011 merger
Hua Xia Commercial financial assets
of Changan bus
bank
9,458,800 0.11% 5,458,800 0.06% 46,072,272 31,653,150
Bank Financial assets
investment
for trade
Total 27,208,800 -- 23,208,800 -- 194,639,772 31,653,150
Note: Investment gain is obtained from 4 million shares of Huaxia Bank sold by Changan Bus.
3.6Derivative Investment
□Applicable √Not Applicable
3.7 Interviews and visits in the reporting period
√Applicable □Not Applicable
Date Location manner Reception object Content discussed and material offered
Meeting Room, On-Site Automotive Industry Development and
2014.1.3 Soochow Asset Management Co.
Changan Headquarters Survey Company’s Business
Meeting Room, On-Site Automotive Industry Development and
2014.1.9 Huaxi Securities、Venus Investment
Changan Headquarters Survey Company’s Business
Meeting Room, On-Site Minsheng securities、Minsheng Royal Fund Automotive Industry Development and
2014.1.10
Changan Headquarters Survey Management Co.、ABC Life Insurance Co. Company’s Business
Meeting Room, On-Site Automotive Industry Development and
2014.1.13 Barclays Capital Asia Limited
Changan Headquarters Survey Company’s Business
Meeting Room, On-Site Automotive Industry Development and
2014.1.15 Macquarie Securities
Changan Headquarters Survey Company’s Business
Meeting Room, On-Site Automotive Industry Development and
2014.1.16 BOC International (China) Limited
Changan Headquarters Survey Company’s Business
Deutsche Bank、Ecofin、Advisory
Meeting Room, On-Site Automotive Industry Development and
2014.1.17 Company for SAIF Funds、Value star asset
Changan Headquarters Survey Company’s Business
management、BNP Paribas
Meeting Room, On-Site Automotive Industry Development and
2014.2.17 J.P.Morgan Asset Management
Changan Headquarters Survey Company’s Business
Amundi Capital Management 、 Logan
Meeting Room, On-Site Circle Capital Management、Shell Capital Automotive Industry Development and
2014.2.18
Changan Headquarters Survey Management、Fidelity Funds、Wellington Company’s Business
Capital Management、Barclays Bank
Meeting Room, On-Site Harvest Fund、China Securities Co. Automotive Industry Development and
2014.2.26
Changan Headquarters Survey Company’s Business
Meeting Room, On-Site South China Growth Fund 、 Khazanah Automotive Industry Development and
2014.2.26
Changan Headquarters Survey Nasional Company’s Business
Meeting Room, On-Site Hongyuan Securities Automotive Industry Development and
2014.3.4
Changan Headquarters Survey Company’s Business
Meeting Room, On-Site Guosen Securities Automotive Industry Development and
2014.3.5
Changan Headquarters Survey Company’s Business
Meeting Room, On-Site Northeast Securities Automotive Industry Development and
2014.3.6
Changan Headquarters Survey Company’s Business
On-Site Standard Chartered Bank 、 Macquarie Automotive Industry Development and
2014.3.6 Meeting Room,
Survey Securities 、 Discovery Capital Company’s Business
5
Changan Headquarters Management
6
§4. Attachment
4.1 Consolidated Balance Sheet
Prepared by: CHONGQING CHANGAN AUTOMOBILE CO., LTD. Mar.31th 2014 in RMB yuan
Account Ending Balance Opening Balance
Current assets:
Cash 3,801,951,965.71 4,281,715,600.23
Deposit Reservation for Balance
Funds loaned to other financial institutions
Financial assets held for trading
Notes receivable 12,794,174,663.33 11,272,212,347.84
Accounts receivable 699,008,005.03 380,017,320.86
Prepayments 907,628,141.89 698,725,451.66
Premiums receivable
Reinsurance receivable
Reinsurance reserve receivable
Interest receivable
Dividend receivable
Other receivables 141,593,172.89 208,009,273.35
Reverse repurchase agreements
Inventories 5,261,139,612.26 4,728,582,349.44
Non-current assets within one year
Other current assets 2,539,733.48 2,585,737.57
Total current assets 23,608,035,294.59 21,571,848,080.95
Non-current assets:
Entrustment loans and advances
Available-for-sale financial assets 194,639,772.00 257,319,416.00
Held-to-maturity investments 0.00
Long-term receivables 281,717.65 280,450.40
Long-term equity investments 14,508,867,764.43 12,466,481,788.64
Investment properties 987,442.85 1,006,267.37
Fixed assets 13,728,757,608.09 13,740,763,376.25
Construction in progress 1,157,772,667.76 1,328,773,757.05
Construction materials 96,690.75 96,690.75
Liquidation of fixed assets 5,127,883.23 8,696.53
Productive biological assets
Oil and gas asset
Intangible assets 2,242,822,930.99 2,058,742,291.62
Development expenditure 545,468,767.91 685,666,604.48
Goodwill 9,804,394.00 9,804,394.00
Long-term deferred expenses 1,171,790.23 1,129,778.36
Deferred tax assets 1,001,036,257.85 998,435,801.99
7
Other non-current assets 687,162,585.10 244,336,881.52
Total non-current assets 34,083,998,272.84 31,792,846,194.96
TOTAL ASSETS 57,692,033,567.43 53,364,694,275.91
Current liabilities:
Short-term loans 1,288,000,000.00 1,258,000,000.00
Due to The People’s Bank of China
Placements of deposits from other financial institutions
Funds borrowed from other financial institutions
Financial liabilities held for trading Notes payable
Notes payable 9,544,383,654.86 9,388,781,959.80
Accounts payable 9,909,503,961.32 7,671,845,704.87
Advances from customers 4,538,200,679.27 4,258,001,533.60
Repurchase agreements
Commission payable
Payroll payable 441,321,628.53 790,299,118.95
Taxes payable 394,440,940.16 131,096,474.84
Interest payables 104,825,379.17 78,113,712.49
Dividend payables 79,742.80 79,742.80
Other payables 914,816,460.63 1,631,578,755.92
Reinsurance payable
Reinsurance reserve payable
Commission of security trading
Commission of underwriting
Non-current liabilities within one year 520,000,000.00 520,000,000.00
Other current liabilities 2,282,288,897.88 1,900,629,102.12
Total current liabilities 29,937,861,344.62 27,628,426,105.39
Non-current liabilities:
Long-term loans 1,270,000,000.00 1,270,000,000.00
Bonds payable 1,968,246,239.92 1,967,266,759.93
Long-term payables 22,563,484.53 24,587,000.00
Special payables 181,858,453.54 213,630,202.50
Provisions 1,261,624,897.40 1,117,167,286.59
Deferred tax liabilities 30,949,529.71 41,842,961.06
Other non-current liabilities 2,443,236,977.12 2,461,821,374.75
Total non-current liabilities 7,178,479,582.22 7,096,315,584.83
Total liabilities 37,116,340,926.84 34,724,741,690.22
Owners’ equity (or Shareholders’ equity):
Paid up capital (or Share capital) 4,662,886,108.00 4,662,886,108.00
Capital reserves 3,046,273,463.14 3,078,557,394.14
Less: Treasury shares
Special reserves 3,985,762.42 1,670,967.02
Surplus reserves 1,816,272,976.53 1,816,272,976.53
General reserve
8
Retained earnings 11,206,513,444.57 9,233,857,503.02
Foreign currency reserve -13,239,197.97 -14,890,520.83
Equity attributable to owners 20,722,692,556.69 18,778,354,427.88
Minority interests -146,999,916.10 -138,401,842.19
Total Owners’ equity (or Shareholders’ equity) 20,575,692,640.59 18,639,952,585.69
4.2 Balance Sheet
Prepared by: CHONGQING CHANGAN AUTOMOBILE CO., LTD. Mar.31th 2014 in RMB yuan
Account Ending Balance Opening Balance
Current assets:
Cash 3,144,693,071.31 3,290,584,684.00
Financial assets held for trading
Notes receivable 12,593,088,068.16 10,612,070,124.82
Accounts receivable 2,295,946,741.99 1,393,930,437.57
Prepayments 820,316,278.14 1,006,257,953.21
Interest receivable
Dividend receivable
Other receivables 433,649,259.50 550,745,735.30
Inventories 4,732,349,569.13 3,995,173,686.02
Non-current assets within one year
Other current assets
Total current assets 24,020,042,988.23 20,848,762,620.92
Non-current assets:
Available-for-sale financial assets 148,567,500.00 176,257,500.00
Held-to-maturity investments
Long-term receivables
Long-term equity investments 15,809,583,177.16 13,767,197,201.37
Investment properties
Fixed assets 12,030,375,857.86 11,991,246,390.25
Construction in progress 1,077,974,766.95 1,227,441,848.35
Construction materials 96,690.75 96,690.75
Liquidation of fixed assets
Productive biological assets
Oil and gas asset
Intangible assets 1,986,870,620.88 1,854,137,128.97
Development expenditure 513,372,307.77 612,487,126.25
Goodwill
Long-term deferred expenses 540,240.00 540,240.00
Deferred tax assets 915,520,729.43 897,445,610.07
Other non-current assets 687,162,585.10 244,336,881.52
Total non-current assets 33,170,064,475.90 30,771,186,617.53
TOTAL ASSETS 57,190,107,464.13 51,619,949,238.45
Current liabilities:
Short-term loans 1,200,000,000.00 1,200,000,000.00
9
Financial liabilities held for trading
Notes payable 8,960,075,402.46 7,579,635,615.92
Accounts payable 9,083,524,531.16 6,807,637,925.32
Advances from customers 4,622,725,528.77 4,277,575,537.45
Payroll payable 397,034,492.48 710,331,644.30
Taxes payable 553,849,745.51 478,169,294.18
Interest payable 104,467,045.84 77,672,045.84
Dividend payable 0.00
Other payables 819,548,876.18 1,404,722,740.89
Non-current liabilities within one year 520,000,000.00 520,000,000.00
Other current liabilities 1,961,510,346.33 1,677,944,402.50
Total current liabilities 28,222,735,968.73 24,733,689,206.40
Non-current liabilities:
Long-term loans 1,270,000,000.00 1,270,000,000.00
Bonds payable 1,968,246,239.92 1,967,266,759.93
Long-term payables 22,563,484.53 24,587,000.00
Special payables 126,448,223.06 129,901,302.92
Provisions 885,775,857.76 761,596,810.09
Deferred tax liabilities 18,853,125.00 23,006,625.00
Other non-current liabilities 2,204,380,710.89 2,218,891,199.06
Total non-current liabilities 6,496,267,641.16 6,395,249,697.00
Total liabilities 34,719,003,609.89 31,128,938,903.40
Owners’ equity (or Shareholders’ equity):
Paid up capital (or Share capital) 4,662,886,108.00 4,662,886,108.00
Capital reserves 3,343,186,767.88 3,366,723,267.88
Less: Treasury shares
Special reserves 744,102.23
Surplus reserves 1,816,272,976.53 1,816,272,976.53
General reserve
Retained earnings 12,648,013,899.60 10,645,127,982.64
Foreign currency reserve
Equity attributable to owners 22,471,103,854.24 20,491,010,335.05
TOTAL LIABILITIES AND OWNERS’ EQUITY( OR SHAREHOLDERS’
57,190,107,464.13 51,619,949,238.45
EQUITY)
10
4.3 Consolidated Income Statement of the report term
Prepared by: CHONGQING CHANGAN AUTOMOBILE CO., LTD.. Jan-Mar 2014 in RMB yuan
Account Current Period Prior Period
I. Total operating revenue 12,190,744,951.20 10,177,172,661.12
Including: operating revenue 12,190,744,951.20 10,177,172,661.12
II. Total operating cost 12,342,309,165.85 10,278,242,272.33
Including: Operating cost 10,288,135,211.86 8,564,981,591.61
Business tax and surcharges 472,430,434.79 354,126,567.59
Operating expenses 978,899,314.79 780,507,921.73
General and administrative expenses 549,395,170.94 548,735,033.69
Financial expenses 52,575,370.68 29,891,157.71
Impairment loss on assets 873,662.79
-332,407.00
Add: Profit and loss from fair value changes (‘-‘ represent loss)
2,074,039,126.10 635,318,795.87
Investment income (‘-‘ represent loss)
2,042,385,975.79 627,728,969.31
Including: Investment income from associates and from joint venture
III. Operating profit (‘-’ represent loss) 1,922,474,911.45 533,916,777.66
Add: Non-operating income 37,873,522.77 30,289,365.23
Less: Non-operating expenses 1,950,431.64 5,762,825.60
182,973.40 3,048,050.91
Including: loss on disposal of non-current assets
IV. Total profit(‘-’ represent loss) 1,958,398,002.58 558,443,317.29
Less: Income tax expense -5,659,865.06 13,406,178.34
V. Net profit (‘-’ represent net loss) 1,964,057,867.64 545,037,138.95
Including: The net profit of the combined parties before business
combination
Net profit attributable to owners 1,972,655,941.55 548,659,958.77
Minority interests -8,598,073.91 -3,622,819.82
VI. Earnings per share: -- --
I) Basic earnings per share 0.42 0.12
II) Diluted earnings per share 0.42 0.12
VII. Other comprehensive income -32,283,931.00 -4,677,125.00
VIII. Total comprehensive income 1,931,773,936.64 540,360,013.95
Total comprehensive income attributable to owners 1,940,372,010.55 543,982,833.77
Total comprehensive income attributable to minority interest -8,598,073.91 -3,622,819.82
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4.4 Income Statement of the report term
Prepared by: CHONGQING CHANGAN AUTOMOBILE CO., LTD.. Jan-Mar 2014 in RMB yuan
Account Current Period Prior Perid
I. Operating revenue 12,315,254,511.69 8,561,947,652.87
Less: Operating cost 10,572,890,792.21 7,258,831,372.32
Business tax and surcharges 418,062,217.84 311,169,762.91
Operating expenses 879,500,629.11 582,599,228.94
General and administrative expenses 483,118,705.16 477,292,529.33
Financial expenses 50,395,412.06 26,650,200.09
Impairment loss on assets 873,662.79
Add: Profit and loss from fair value Changes (‘-’ represent loss)
Investment income (‘-’ represent loss) 2,046,169,309.12 635,451,445.30
Including: Investment income from associates and from joint venture 2,042,385,975.79 627,728,969.31
II. Operating profit (‘-’ represent loss) 1,956,582,401.64 540,856,004.58
Add: Non-operating income 29,757,655.06 27,457,914.10
Less: Non-operating expenses 1,529,259.11 4,720,168.97
Including: loss on disposal of non-current assets 2,741,483.42
III. Total profit(‘-’ represent loss) 1,984,810,797.59 563,593,749.71
Less: Non-operating expenses -18,075,119.37 2,773,859.43
IV. Net profit (‘-’ represent net loss) 2,002,885,916.96 560,819,890.28
V. Earnings per share: -- --
I) Basic earnings per share
II) Diluted earnings per share
VI. Other comprehensive income -23,536,500.00 -4,677,125.00
VII. Total comprehensive income 1,979,349,416.96 556,142,765.28
4.5 Consolidated 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 2014 in RMB yuan
Account Current Period Prior Perid
I. CASH FLOWS FROM OPERATING ACTIVITIES:
10,403,630,024.79 9,456,516,906.10
Cash received from sale of goods or rendering of services
Net increase in customer deposits and placements of deposits from other
financial institutions
Net increase in amounts due to the Central Bank
Net decrease in funds loaned to other financial institutions
Cash receipts from primary insurance contract
Net cash receipts from reinsurance agreement
Net increase in saving from incident and investment deposit
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Net increase in disposal of financial assets held for trading
Cash receipts from interest and fee and commission income
Net increase in funds borrowed from other financial institutions
Net increase in repurchase agreements
Refunds of taxes 6,616,148.84 10,048,351.20
Cash received relating to other operating activities 83,806,826.76 59,305,479.93
Sub-total of cash inflows 10,494,053,000.39 9,525,870,737.23
Cash paid for goods and services 6,677,541,403.54 5,427,325,583.98
Net increase in loans and advances
Net increase in amounts due from the Central Bank and placements of
deposits with other financial institutions
Cash payments for primary insurance contract
Cash payments for interest and fee and commission expenses
Cash payments for policy dividend
Cash paid to and on behalf of employees 1,252,521,318.52 803,739,293.46
Cash paid for all types of taxes 1,054,356,734.44 689,258,251.17
Cash paid relating to other operating activities 1,103,554,057.65 1,104,747,723.37
Sub-total of cash outflows 10,087,973,514.15 8,025,070,851.98
Net cash flows from operating activities 406,079,486.24 1,500,799,885.25
II. CASH FLOWS FROM INVESTING ACTIVITIES:
Cash received from disposal of investments
Cash received from return on investments 31,653,150.31 3,601,884.11
Net cash received from disposal of fixed assets, intangible assets and other 206,797.42 80,000.00
long-term assets
Cash and cash equivalents of subsidiary receipts upon a acquisition
Cash received relating to other investing activities 5,653,333.33
Sub-total of cash inflows 31,859,947.73 9,335,217.44
Cash paid for acquisition of fixed assets, intangible assets and other 429,722,778.98 561,864,624.16
long-term assets
Cash paid for acquisition of investments 440,200,000.00 2,246,000.00
Net increase in pledged loan
Cash paid for acquisition of subsidiary and other business units
Cash paid relating to other investing activities
Sub-total of cash outflows 869,922,778.98 564,110,624.16
Net cash flows from investing activities -838,062,831.25 -554,775,406.72
III. CASH FLOWS FROM FINANCING ACTIVITIES:
Cash received from absorbing investment
Including: cash received from absorbing investment from minority interest
of subsidiary
13
Cash received from borrowings 60,000,000.00 30,000,000.00
Cash received from issuing bond
Cash received relating to other financing activities -38,919,224.10 6,318,045.63
Sub-total of cash inflows 21,080,775.90 36,318,045.63
Cash repayments of borrowings 30,000,000.00 60,000,000.00
39,797,958.45 30,760,883.99
Cash paid for distribution of dividends or profits and interest expenses
Including: cash paid for dividends or profits and interest expenses to
minority interest of subsidiary
Cash paid relating to other financing activities 8,632.96 357,530.11
Sub-total of cash outflows 69,806,591.41 91,118,414.10
Net cash flows from financing activities -48,725,815.51 -54,800,368.47
945,526.00 -88,357.65
IV. EFFECT OF CHANGES IN EXCHANGE RATE ON CASH
-479,763,634.52 891,135,752.41
V. NET INCREASE IN CASH AND CASH EQUIVALENTS
Add: Opening balance of cash and cash equivalents 4,281,715,600.23 4,199,763,915.82
3,801,951,965.71 5,090,899,668.23
VI. CLOSING BALANCE OF CASH AND CASH EQUIVLANT
4.6 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 2014 in RMB yuan
Account Current Period Prior Perid
I. CASH FLOWS FROM OPERATING ACTIVITIES:
9,751,719,727.42 7,565,867,402.10
Cash received from sale of goods or rendering of services
Refunds of taxes 4,883,000.00
90,137,804.08 69,135,929.84
Cash received relating to other operating activities
Sub-total of cash inflows 9,841,857,531.50 7,639,886,331.94
Cash paid for goods and services 6,242,486,955.04 4,269,830,504.85
Cash paid to and on behalf of employees 1,037,531,311.65 641,718,057.16
Cash paid for all types of taxes 969,831,710.09 587,976,694.66
981,071,100.58 1,014,736,367.01
Cash paid relating to other operating activities
Sub-total of cash outflows 9,230,921,077.36 6,514,261,623.68
Net cash flows from operating activities 610,936,454.14 1,125,624,708.26
II. CASH FLOWS FROM INVESTING ACTIVITIES:
Cash received from disposal of investments
Cash received from return on investments 3,783,333.33 5,825,000.00
Net cash received from disposal of fixed assets, intangible assets and other 32,797.42
long-term assets
Cash received from disposal of subsidiary and other business units
95,000,000.00
Cash received relating to other investing activities
14
Sub-total of cash inflows 98,816,130.75 5,825,000.00
Cash paid for acquisition of fixed assets, intangible assets and other 376,943,822.58 531,195,136.23
long-term assets
Cash paid for acquisition of investments 440,200,000.00 2,246,000.00
Cash paid for acquisition of subsidiary and other business units
50,000,000.00
Cash paid relating to other investing activities
Sub-total of cash outflows 817,143,822.58 583,441,136.23
Net cash flows from investing activities -718,327,691.83 -577,616,136.23
III. CASH FLOWS FROM FINANCING ACTIVITIES:
Cash received from absorbing investment
Cash received from borrowings
Cash received from issuing bond
Cash received relating to other financing activities
Sub-total of cash inflows
Cash repayments of borrowings
38,500,375.00 27,698,250.00
Cash paid for distribution of dividends or profits and interest expenses
Cash paid relating to other financing activities
Sub-total of cash outflows 38,500,375.00 27,698,250.00
Net cash flows from financing activities -38,500,375.00 -27,698,250.00
IV. EFFECT OF CHANGES IN EXCHANGE RATE ON CASH
-145,891,612.69 520,310,322.03
V. NET INCREASE IN CASH AND CASH EQUIVALENTS
3,290,584,684.00 3,081,165,146.84
Add: Opening balance of cash and cash equivalents
3,144,693,071.31 3,601,475,468.87
VI. CLOSING BALANCE OF CASH AND CASH EQUIVLANT
4.7 Auditors’Report Auditing Opinion: Unaudited
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