Chongqing Changan Automobile Company Limited Semi-annual Report 2015
1
Chongqing Changan Automobile Company Limited
Semi-annual Report 2015
August 2015
Chongqing Changan Automobile Company Limited Semi-annual Report 2015
I.Important directory and interpretation
The Board of Directors & Supervisors, the directors, supervisors and senior management of the Company
guarantee that the information contained in the report is free of false records, misguiding statements or
significant omissions, and assume individual and joint liabilities for the truthfulness, accuracy and integrity
of the report.
All the directors attended the board meeting on auditing the report.
For the first half of the year, the Company has no plans of cash dividend distributed, no bonus shares and has
no share converted from capital reserve either.
Chairman Mr. Xu Liuping, Chief Accountant Mr. Wang Kun, and the Chief of Accountant department Mr.
Hua Zhanbiao guarantee: the truthfulness and completeness of the financial statements of this semi-annual
report.
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.
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Chongqing Changan Automobile Company Limited Semi-annual Report 2015
Contents
I Important notes, contents and definitions
General introduction to the Company
II
III Accounting data and summary of financial indexes
IV Report by Board of Directors
Important Issues
V
Change in shares and information about
VI shareholders
Information on directors, supervisors, senior
VII executives and staffs
Financial Statements
VIII
IX Document for future reference
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Chongqing Changan Automobile Company Limited Semi-annual Report 2015
Definition
Changan Auto., the
meaning Chongqing Changan Automobile Company Limited
Company
South Industries meaning China South Industries Group Corp. Company’s actual controller
China Changan, old name: China South Industries Automobile Co., Ltd., a subsidiary company
China Changan meaning
of South Industries
Chongqing Changan Industry(Group) Co., Ltd., old name: Changan Automobile Co., Ltd.,
Changan Industry meaning Changan Automobile (Group) Co., Ltd., a subsidiary company of South Industries, the
controlling shareholder of the Company before December, 2005
Nanjing Changan meaning Nanjing Changan Automobile Co., Ltd., a subsidiary company of the Company
Hebei Changan meaning Hebei Changan Automobile Co., Ltd., a subsidiary company of the Company
Hefei Changan meaning Hefei Changan Automobile Co., Ltd., a subsidiary company of the Company
Changan Bus meaning Baoding Changan Automobile Co., Ltd., a subsidiary company of the Company
International Company meaning Chongqing Changan Automobile International Sales Service Co., Ltd.
CFA meaning Changan Ford Automobile Co.,，a JV of the Company
CMA meaning Changan Mazda Automobile Co.,，a JV of the Company
CFME meaning Changan Ford Mazda Engine Co., a JV of the Company
CAPSA meaning Changan PSA Automobiles Co., Ltd，a JV of the Company
Changan Suzuki meaning Chognqing Changan Suzuki Auto. Co.Ltd., a JV of the Company
Jiangling holding meaning Jiangling Holding Co., a JV of the Company
Hafei Group meaning Harbin Hafei Automobile Industry Group Co., Ltd., a subsidiary company of China Changan
Chongqing Changan Minsheng APLL Logistics Co., Ltd, a subsidiary company of Changan
CMAL meaning
Industry
Financial Co. of CSGC meaning Financial Co. of China South Industries Group Corporation
Zhonghui Futong meaning ZhongHui fortis investment co., LTD., a subsidiary of China Changan
Hefei Changan Refers to Hefei Changan Automobile Co., Ltd., a subsidiary company of the Company
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Chongqing Changan Automobile Company Limited Semi-annual Report 2015
II. General Introduction to the Company
I. Company information
Share referred to as Changan Auto, Changan B Share code 000625、200625
Listed securities exchange Shenzheng securities exchange
The company’s legal Chinese
重庆长安汽车股份有限公司
Name
Abbreviations of company’s
长安汽车
legal Chinese Name
The company’s legal English
Chongqing Changan Automobile Company Limited
Name
The company’s legal
Xu Liuping
representative
II. Contacts
representative of securities
The secretary of the board of directors
transaction
Name Wang Kung(Agent)、Li Jun
No.260 Jianxin East Road, Jiangbei District of
Address
Chongqing
Tel. 023-67594008
Fax 023-67866055
e-mail cazqc@changan.com.cn
III. Others
1. Way of contact
Whether registrations address, offices address and codes as well as website and email of the Company
changed in reporting period or not
□ Applicable √ Not applicable
Registrations address, offices address and codes as well as website and email of the Company have no
change in reporting period. See more details in Annual Report 2014.
2. Information disclosure and preparation place
Whether information disclosure and preparation place changed in reporting period or not
□ Applicable √ Not applicable
The newspaper appointed for information disclosure, website for semi-annual report publish appointed
by CSRC and preparation place for semi-annual report have no change in reporting period. See more details
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Chongqing Changan Automobile Company Limited Semi-annual Report 2015
in Annual Report 2014.
3. Registration changes of the Company
Whether registration has changed in reporting period or not
□ Applicable √ Not applicable
Date/place for registration of the Company, registration number for enterprise legal license, number of
taxation registration and organization code have no change in reporting period. See more details in Annual
Report 2014.
4. Other relevant information
Whether other relevant information has changed in reporting period or not
□ Applicable √ Not applicable
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Chongqing Changan Automobile Company Limited Semi-annual Report 2015
III. Accounting data and summary of financial indexes
I、Main accounting data and financial indexes
Whether it has retroactive adjustment or re-statement on previous accounting data for accounting policy changed and accounting
error correction or not
□Yes √No
In RMB yuan
Increase/decrease
Report period Same period of last year
y-o-y (%)
Operating revenue (RMB) 33,052,955,177.49 24,206,730,641.95 36.54%
Net profit attributable to shareholders of
5,085,266,527.13 3,628,092,998.93 40.16%
the listed company (RMB)
Net profit attributable to shareholders of
the listed company after deducting 4,889,911,259.69 3,562,976,770.99 37.24%
non-recurring gains and losses (RMB)
Net cash flow arising from operating
6,436,148,978.03 3,541,495,260.91 81.74%
activities (RMB)
Basic earnings per share (RMB/Share) 1.09 0.78 39.74%
Diluted earnings per share (RMB/Share) 1.09 0.78 39.74%
Weighted average ROE (%) 18.44% 17.61% 0.83% up
Increase/decrease
Report period Same period of last year
y-o-y (%)
Total assets (RMB) 79,898,841,119.46 69,687,352,890.82 14.65%
Net assets attributable to shareholder of
29,504,554,653.01 25,637,298,549.80 15.08%
the listed company (RMB)
II、The differences between domestic and international accounting standards
(1).Simultaneously pursuant to both Chinese accounting standards and international accounting standards disclosed in the financial
reports of differences in net income and net assets.
□ Applicable √Not applicable
(2). Differences of net profit and net assets disclosed in financial reports prepared under overseas and Chinese accounting standards.
□ Applicable √Not applicable
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Chongqing Changan Automobile Company Limited Semi-annual Report 2015
III、non-recurring profit and loss project and cash
In RMB yuan
Project Amount Illustration
Gain/loss of non-current assets -2,376,011.85
The government subsidies included in the current profits
and losses (except government subsidies closely related 207,987,113.43
to corporate business, entitled in fixed quota or quantity)
Current net profit from beginning to combined date of
business combination under common control
Investment income from disposing available-for-sale equity
securities
Other non-business income and expenditures other than the
30,693,680.11
above items
Subtract: Influenced amount of income tax 38,417,385.55
Influenced amount of miniority shareholders’ equity (after
2,532,128.70
tax)
Total 195,355,267.44
For the Company’s non-recurring gain/loss items as defined in the Explanatory Announcement No.1 on information disclosure for
Companies Offering their Securities to the Public-Non-recurring Gains and Losses and its non-recurring gain/loss items as illustrated
in the Explanatory Announcement No.1 on information Disclosure for Companies offering their securities to the public-non-recurring
Gains and losses which have been defined as recurring gains and losses, it is necessary to explain the reason.
□ Applicable√ Not applicable
In reporting period, the Company has no particular items defined as recurring profit (gain)/loss according to the lists of extraordinary
profit (gain)/loss in Q&A Announcement No.1 on Information Disclosure for Companies Offering Their Securities to the Public ---
Extraordinary Profit/loss.
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Chongqing Changan Automobile Company Limited Semi-annual Report 2015
IV. Report by Board of Director
I、Overview
In the first half of 2015, the Company actively responded to the challenges of increasing market competition, and economic
downward pressure, etc., while the production and operation reached a historical high. During the reporting period, the Company and
its associated enterprises and subordinate joint ventures sold more than1.466 million vehicles in total, up 11% year-on-year, 9.6
percentage points higher than the industry average. Among them, 0.549 million Changan brand passenger vehicles (including the new
mini bus, excluding JVs) have been sold, up 40% year-on-year, ranking first among Chinese brands. In China’s auto market, the
Company achieved a market share of about 12.4%, 1.1percentage points higher than the previous year, and the sales volume
continues to rank top 3 in Chinese automobile industry. (Data source: China Association of Automobile Manufacturers.)
II、Analysis of Main Business
During the reporting period, the Company delivered operating revenue of RMB 33,052,955,177.49 Yuan and net profit
attributable to shareholders of public Corporation RMB 5,085,266,527.13Yuan, with year-on-year growth of 36.54% and 40.16%
respectively. As of the end of the reporting period, the Company's total assets reached RMB 79,898,841,119.46Yuan, up 14.65%
compared with the beginning of the year, total liabilities RMB 50,603,703,606.97 Yuan, up 14.41% compared with the beginning of
the year, debt asset ratio 63.33%, down 0.14 percentage points compared with the beginning of the year. During the reporting period,
the Company delivered net increase in cash and cash equivalents of RMB 3,982,053,336.06 Yuan, with a year-on-year increase of
RMB 728,252,405.51 Yuan, with a year-on-year growth of 22.38%. The net cash flow from operating activities reached RMB
6,436,148,978.03Yuan, with an increase of RMB2,894,653,717.12 Yuan, up 81.74%. The Company has constantly improved its
operation quality and enhanced its profitability.
Y-o-y changes of main financial data
In RMB yuan
Same period of last Y-o-y
Current period Reasons for changes
year（restated） increase/decrease
operating revenue 33,052,955,177.49 24,206,730,641.95 36.54% Increase in scale of production and sales
Operating cost 27,249,934,200.22 19,995,482,492.16 36.28% Increase in scale of production and sales
Increase in the sales and the proportion of
Business tax and
1,545,626,871.52 925,095,503.04 67.08% high-tax-rate models, which led the increase
surcharges
in consumption tax
Operating expenses 2,135,150,631.89 2,115,030,025.67 0.95%
General and Increase in salary payable, depreciation and
2,039,913,264.88 1,603,360,209.07 27.23%
administrative expenses technology research expenses
Decrease in interest income and increase in
Financial expenses -75,769,863.16 89,149,560.21 -184.99%
interest expenses
Impairment loss on Impairment loss on fixed assets and intangible
128,153,351.20 32,554,907.42 293.65%
assets assets in previous period.
Investment income 4,962,949,794.75 4,084,040,246.48 21.52% Large increase in investment income from
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Chongqing Changan Automobile Company Limited Semi-annual Report 2015
Changan Ford&Changan Mazda.
Non-operating income 253,309,797.80 90,453,586.04 180.04% Increase in government grant.
Large increase in investment income from the
Total profit 5,229,201,297.38 3,615,297,138.57 44.64%
joint ventures and the Chinese brand profits.
Increase in current income tax expenses and
Income tax expense 171,465,058.19 -530,676.54 32410.65%
decrease in deferred income tax expenses.
Net profit Large increase in investment income from the
5,085,266,527.13 3,628,092,998.93 40.16%
attributable to owners joint ventures and the Chinese brand profits.
R&D investment 1,103,565,009.68 916,014,863.95 20.47%
Mainly because of the growth of sales income
Subtotal of cash inflow
6,436,148,978.03 3,541,495,260.91 81.74% higher than taxes expense,payroll,cash
from operating activities
commodity
Subtotal of cash inflow
-1,201,620,752.08 2,843,012,123.55 -142.27% Dividends from Changan Ford reduce.
from investment activities
Caused by the reduction of the cash to pay the
Subtotal of cash in-flow
-1,256,059,164.34 -3,129,616,790.47 59.87% debt, and the increase of the cash dividend,
from financing activity
the profit or the payment of interest.
Net increase in cash and
3,982,053,336.06 3,253,800,930.55 22.38%
cash equivalents
Major changes on profit composition or profit resources in reporting period
□ Applicable √ Not applicable
No major changes on profit composition or profit resources occurred in reporting period.The future development and planning
extended to reporting period that published in disclosure documents as prospectus, private placing memorandum and recapitalize
statement
□ Applicable √ Not applicable
Review on the previous business plan and its progress during reporting period
In the first half of the year 2015, the Company completed the business indicators decsided at the beginning of the reporting period
by the board of directors well. The total sales volume of the automobiles was 1.466 million, which completed 50.05% of the planed
business indicators. Sales revenue is 115.072 Billion Yuan (including full revenue from joint venture) on statistic basis, with 46.03%
over the annual plan, and 33.05 Billion Yuan from consolidated financial statements, with 56.02% over the annual plan.
III、Composition of Main Business
in RMB Yuan
Increase or Increase or Increase or
decrease of decrease of decrease of
Operating revenue Operating cost Gross profit
operating operating cost gross profit
revenue y-o-y y-o-y y-o-y
According to industries
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Chongqing Changan Automobile Company Limited Semi-annual Report 2015
Automobile 0.10 percentage
32,500,273,613.80 26,975,703,171.68 17.00% 37.29% 37.13%
Production points increased
According to products
（一）Complete 0.01 percentage
32,410,068,040.76 26,909,610,981.03 16.97% 37.66% 37.63%
vehicle points increased
Passenger Vehicle 0.92percentage
86.63% 84.52%
（Contains SUV） 24,421,214,547.75 19,601,131,933.83 19.74% points increased
Mini Vehicle（Contains 6.20 percentage
7,988,853,493.01 7,308,479,047.20 8.52% -22.66% -17.03%
light vehicle） points decreased
19.57percentage
（二）Outsourcing 90,205,573.04 66,092,190.65 26.73% -30.12% -44.85%
points increased
According to region
0.03 percentage
domestic 32,264,164,073.00 26,743,919,822.88 17.11% 38.67% 38.73%
pionts decreased
1.22 percentage
overseas 236,109,540.80 231,783,348.80 1.83% -41.79% -41.06%
points decreased
During the period, the increase in gross profit margin of passenger Vechiles (including SUV) was due to the increase in sales of Eado ,
CS35 and CS75 , and the product structure optimization.
IV、Analysis of Core Competitiveness
In the first half of 2015, the Company has been constantly promoting independent innovation and R&D 。capabilities, continuously
improving its product competitiveness, and delivering effective brand communication.
During the reporting period, EADO 2015, EADO all-electric , EADO XT 2015, CS35 2015, STAR 3 and EULOVE X6 were
successfully launched into the market; The Company simultaneously progressed its CS95, CS75 4x4, OUSHANG as planned. The
Company sped up the transformation of traditional car to smart car, forming a "654" intelligent strategy; all-electric drive technology
platform as the main line, synchronous development plug-in hybrid technology platform, forming a new energy "518" strategy. The
latest R & D all wheel drive technology, intelligent technology, new energy core technology showed in the 3rd Carnival , fully
demonstrated the efforts and achievements of company in the traditional technology and innovative energy, intelligent research and
development,impressed and caught the attention of the mainstream media and consumers.
Meanwhile, The total sales volume of Changan’s indigenous brand passenger vehicles was 0.549 million, with 40.0% increase y-o-y,
ranking first among Chinese brands, and the growth’s higher than the industry average. During the period, Changan CS75、CS35、
EADO were sold 87,000 units,89,000 units,101,000 units. The volume of Alsvin series and Benben series outstood the market of
Chinese brand segmentation.
In terms of brand promotion, the Company adheres to “user oriented, prioritizing user thinking and experience, innovation in brand
communication”. The Company exclusively successfully sponsored "Amazing Chinese", further enhancing its brand influence. CS75
achieved the Five-star rating with 59 points in the C-NCAP, which proved CS75 to be the most safe car in Chinese vehicle maker.
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Chongqing Changan Automobile Company Limited Semi-annual Report 2015
V、Investment analysis
1、Foreign equity investment
（1）Foreign equity investment
□ Applicable √ Not applicable
（2）A financial enterprise equity situation
At the
beginning
Initial The final Reporting
Intinial of the The final The final
Company Type of share number of period Accounting Source of
investment period ownershi book value
name Company precenta shares income subjec stock
cost (yuan) number of p (yuan)
ge (shares)） (yuan)
shares
(shares)
Available
Initial
Southwest Securities for sale
50,000,000 17,750,000 0.76% 17,750,000 0.76% 348,787,500 investmen
Securities Company financial
t
assets
China
South
Long term Initial
Industries
Others 80,000,000 5.33% 5.33% 80,000,000 52,219,215.31 equity investmen
Group
investment t
financial
company
85,283,745.8
total 130,000,000 -- 428,787,500 52,219,215.31 --
2
（3）Securities investments
□ Applicable√ Not applicable
There’s no securities investment during the reporting period
（4）Holding of the equity in other Listing Company
□ Applicable√ Not applicable
There’s no holding of the equity in other Listing Company during the reporting period.
2、Entrusted finance, derivative investments and entrusted loans
There’s no entrusted finance, derivative investments or entrusted loans during the reporting period
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Chongqing Changan Automobile Company Limited Semi-annual Report 2015
3、Use of raised funds
□ Applicable√ Not applicable
There’s no use of raised funds during the reporting period
4、Analysis of main holding companies and equity companies
Unit: ten thousand yuan
Registered Main operating
Total assets( ten Net profit
Name Equity held Main businesses income(ten thousand
capital thousand yuan) (ten thousand yuan)
yuan)
Changan Ford Motor Co., Ltd 24,100 USD 50% Produce and sell auto and parts 4,778,668 5,563,598 879,619
Changan Mazda Co., Ltd 11,097 USD 50% Produce and sell auto and parts 1,128,768 921,075 82,561
Changan Ford Mazda Engine
20,996 USD 50% Produce and sell engine parts 258,728 168,386 16,043
Co., Ltd
Chongqing Changan Suzuki
19,000 USD 50% Produce and sell auto and parts 684,110 480,934 -4,697
Automobile Co., Ltd
Changan PSA Automobiles
400,000 50% Produce and sell auto and parts 865,291 181,664 -23,571
Co.,Ltd
JMC Holding Co., Ltd. 200,000 50% Produce and sell auto and parts 750,813 124,576 36,440
During the reporting period, the joint venture Changan Ford production and marketing set a new record, new products such as
Escort,Edge successfully launched into the market, kuga, new Mondeo,and new Focus continued to be best-selling products, to
achieve 0.4297 million vehicle sales, an increase of 7.2% year-on-year, net profit of 87.96 billion yuan, grew 18.93% year-on-year;
Changan Mazda with excellent performance of cx-5 and Mazda3 Axela , car sales 78.9 thousand, an increase of 89.9%year-on-year,
net profit of 0.826 billion yuan, an increase of 99.79% year-on-year.
5、Major projects with non-raised capital investment
Please refer to Notes to Financial Statement VII” Construction in progress”
VI、Prediction of business performance for Jan-Sept 2015
Alert of loss or significant change in net profit from the beginning of year to the end of next report period or comparing with the
same period of last year, and statement of causations.
□ Applicable √ Not applicable
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Chongqing Changan Automobile Company Limited Semi-annual Report 2015
VII、Statement of the Board on the “non-standard auditors’ report” issued by the CPA on the
current report period
Not applicable
VIII、Statement of the Board on the variation and treatment of events that involved in the
“non-standard auditors’ report” issued by the CPA on previous fiscal year
Not applicable
IX、The implementation of profit distribution during the reporting period
By May 8, 2015 the Company held the 2014 annual meeting of shareholders. The 2014 annual interest distribution scheme is: The
company's existing total share capital of 4662886108 shares as the base, to all shareholders 10 per share cash delivery 2.5 yuan
(including tax). The equity allocation of A equity registration date is June 25, 2015, Ex dividend date is June 26, 2014, B share the
last trading day of June 25, 2015, ex dividend date for June 26, 2015. The equity registration date for June 30, 2015.The profit
distribution plan has been completed, a total of 1,169,092,724.43 yuan to distribute cash dividends.
Special explanation for cash dividend policy
Whether compliance with the regulation stated in the articles of association and
Yes
requirement for resolution of shareholders meeting
Whether the distribution standard and proportion is clear Yes
Whether the related decision procedure and system is complete Yes
Whether the independent directors work effecitve Yes
Whether the minority shareholders have ample opportunity to express their advise and
Yes
appeal and their legal right and interests is suffiently protected
Whether the adjustment or change on cash dividend policy meets the requirement and
Yes
procedure is compliance and tranparent
X、Registration form for the reception research, communication, interviews and other
activities during the reporting period
Date Location manner Reception object Content discussed and material offered
Meeting Room, Ze yuan assets Automotive Industry Development and
2015.1.4 On-Site Survey
Changan Headquarters CSoochow Asset Management Co. Company’s Business
Meeting Room, Guotai Junan Securities, Future Automotive Industry Development and
2015.2.4 On-Site Survey
Changan Headquarters assets Company’s Business
Meeting Room, ITIC Securities, Huaan fund, Automotive Industry Development and
2015.2.6 On-Site Survey
Changan Headquarters CITIC-PRUDENTIAL Fund, Company’s Business
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Chongqing Changan Automobile Company Limited Semi-annual Report 2015
Harvest Fund, People's insurance
assets, Chang Sheng Fund, Value
Partners Fund
Meeting Room, Automotive Industry Development and
2015.3.6 On-Site Survey Minzu Security
Changan Headquarters Company’s Business
Meeting Room, Hao investment, CITIC Securities Automotive Industry Development and
2015.3.13 On-Site Survey
Changan Headquarters International Company’s Business
Meeting Room, telephone Automotive Industry Development and
2015.4.17 CITIC construction investment
Changan Headquarters conference Company’s Business
Meeting Room, Automotive Industry Development and
2015.5.6 On-Site Survey Tiger Pacific Capital L.P.
Changan Headquarters Company’s Business
Meeting Room, Automotive Industry Development and
2015.5.12 On-Site Survey Fubon securities
Changan Headquarters Company’s Business
China Merchants securities,
Meeting Room, Automotive Industry Development and
2015.5.14 On-Site Survey Xiao Yang investment,
Changan Headquarters Company’s Business
Shenzhen Tang financial investment
Meeting Room, Morgan asset management, Automotive Industry Development and
2015.5.27 On-Site Survey
Changan Headquarters Credit Suisse Company’s Business
Meeting Room, AllianceBernstein Assets, Automotive Industry Development and
2015.6.1 On-Site Survey
Changan Headquarters Deutsche Bank Company’s Business
Meeting Room, Huatai Securities Automotive Industry Development and
2015.6.5 On-Site Survey
Changan Headquarters Company’s Business
Meeting Room, Citibank,Jianan Investment Automotive Industry Development and
2015.6.8 On-Site Survey
Changan Headquarters Company’s Business
Meeting Room, Guolian Securities Automotive Industry Development and
2015.6.10 On-Site Survey
Changan Headquarters Company’s Business
Meeting Room, CI Global Investments Asia Ltd., Automotive Industry Development and
2015.6.11 On-Site Survey
Changan Headquarters Macquarie Securities Company’s Business
Meeting Room, Knowledge investment, Automotive Industry Development and
2015.6.25 On-Site Survey
Changan Headquarters Greenwoods Investment Company’s Business
Meeting Room, Paris capital of France Automotive Industry Development and
2015.6.30 On-Site Survey
Changan Headquarters Company’s Business
Meeting Room, CITIC construction investment Automotive Industry Development and
2015.6.30 On-Site Survey
Changan Headquarters Company’s Business
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Chongqing Changan Automobile Company Limited Semi-annual Report 2015
V. Significant Events
I、Governance status
The company strictly complies with laws and rules, such as “Company Law”,”Security Law” and “Management Standard of Listed
Company”, and with standard operation of standard documents of listed company administration. During the report period, the
company issued “Self Evaluation Report of 2014 Internal Control”, and Ernst&Yong Huaming Accounting Firm issued standard
audit report of internal control.
II、Major litigation and arbitration matters
□ applicable √ not applicable
During the report period, the company has no major litigation and arbitration matters.
III、Questioned situation by media
□ applicable √not applicable
During the report period the company has no widespread questioned situation by media.
IV、Related matters of bankruptcy and restructure
□ applicable √not applicable
V、Assets transaction matters
1、Acquisition of assets
The
contributio
n in net
The
acquired profit ratio relation
dealing Dealing Impact on Impact on related
or Progress of net ship with Date of Index of
party or price(in10 company's company's party
purchased profit of the dealing disclosure disclosure
parent 000yuan) business profit transaction
assets the assets party
company
of the
listed
company
Chongqing 35% Approved to improve In the Controlled http://www
Auto shares of by the conducive reporting by the 7,March .cninfo.co
115,000 N/A Yes
Finance Chongqing general the period,no same 2015 m.cn/final
Co., Ltd. Auto meeting of company's impact ultimate page/2015-
15
Chongqing Changan Automobile Company Limited Semi-annual Report 2015
Finance shareholde industrial holding 03-07/120
Co., Ltd. rs, is chain, to company 0676764.P
currently become a DF
in the new profit
approval growth
of the sourse.
CBRC
2、sales of assets
□ applicable √not applicable
3、Enterprise merger
□ applicable √not applicable
VI、Implementation and influence of the company equity incentive.
□ applicable √not applicable
VII、Major relevant transaction.
1、Related party transaction related with daily operation.
For the detail, refer to Note 12 of the consolidated financial statements.
2、Related party transaction at asset acquisition and sales.
See details in “Joint investment of significant related party transactions”
3、Joint investment of significant related party transactions
The company intended to purchase 5% share of United Prosperity Co., Limited with self financing, which has been approved in the
26th meeting of the Sixth board of directors on 9 Jan., 2015. United Prosperity Co., Limited (Shenzhen) was currently in the
preparation for the establishment. See details, please refer to the RPT publication. (Bulletin No. 2015-02)
The company intended to purchase 35% share of Chongqing Automobile Financing Co., Limited with self financing, which has been
approved in the 29th meeting of the Sixth board of directors on 6 March., 2015. During the reporting period, the purchase of
Chongqing Automobile Financing Co., Limited’s shares was approved by the Shareholders’ meeting and waiting for the approval
from the China Banking Regulatory Commission. See details, please refer to the RPT publication. (Bulletin No. 2015-12)
4、Related credits and liabilities
√ Available □Not available
For the detail, refer to Note 12 of the consolidated financial statements.
16
Chongqing Changan Automobile Company Limited Semi-annual Report 2015
5、Other major related transaction.
On the renewal of the related party transactions daily
framework agreement, the lease framework agreement, the Apr. 2 of 2015 http://www.cninfo.com.cn
service agreement "connected transaction announcement
On the China South Group finance to provide financial
Apr. 2 of 2015 http://www.cninfo.com.cn
services for the company's related party transactions notice
Regardingon the development of trade finance transactions
http://www.cninfo.com.cn
associated with the announcement of UPI Apr. 2 of 2015
Prediction of 2015 daily related transactions amount notice. Apr. 17 of 2015 http://www.cninfo.com.cn
Non-public offering of A shares involving related transactions Apr. 23 of 2015 http://www.cninfo.com.cn
VIII、Important contract and implementation.
1、Matters regarding hosting, contracting and leasing.
（1）Hosting
Projects whose profit and loss brought to the company accounte for 10% of the total profits during the company report period.
□ Yes √ No
（2）Contracting
Projects whose profit and loss brought to the company accounte for 10% of the total profits during the company report period.
□ Yes √ No
（3）Leasing
Projects whose profit and loss brought to the company accounte for 10% of the total profits during the company report period.
□ Yes √ No
2、Guarantee
During the report period, the company has no gurarantee.
3、Other important contract.
□ Yes √ No
4、Other important transaction.
□ Yes √ No
17
Chongqing Changan Automobile Company Limited Semi-annual Report 2015
IX、Commitments of the company or shareholders holding more than 5% shares during the
report period or during former period but continuing to this report period.
Commitment Item Promisee Promise content Performance
As of the end of the reporting period,
CCAG, the Company’s shareholder
with share selling restrictions, held
1.Will abide by the laws, regulations and rules, to
373,358,342 shares with selling
perform the legal obligations.2. Held by the original
restrictions, which will be lifted after
non-tradable shares from obtaining the right to list and
the implementation of management
trade date, At least 24 months is not publicly traded or
share incentive plan according to the
transferred, The 24 months after the expiration of the
commitments of shareholding
term of, Non-tradable shareholders stock exchange
reform. During the reporting period,
The commitments of through the sale of shares, The sale of shares of the
China Changan according to CCAG’s document “A
stock reform company accounted for the proportion of the total
Supplementary Explanation to
number of within 12 months and not more than five
Participating in the Share Split
percent, In 24 months of no more than ten percent,3.
Reform of Chongqing Changan
Company in the shares changed after the completion
Automobile Co., Ltd.”, the Company
of According to the national related management
confirmed that it will implement the
systems and methods for implementing the
management share incentive plan
management equity incentive plan
before June 30, 2016, according to
relevant national regulations and
measures.
order to avoid and eventually solve the possible
competition or potential competitors, Better maintain
the interests of investors, the company controlling The Harbin Hf Automobile Industry
Other small shareholder China Changan commitment: In two Group Co at present is still running
shareholders China Changan consecutive years profit of Harbin Hf Automobile at a loss, The conditions have not yet
commitment Industry Group Co, With the continuous development reached the profitable for two
ability and management level is improved consecutive years.
significantly under the condition of, Proposed that
enterprises into the company.
X、Cases of employing and dismissing accounting firm
If the semi-annual financial report has been audited.
□ Yes √ No
XI、Punishment and rectification case
Statement of rectification
□ applicable √ not applicable
18
Chongqing Changan Automobile Company Limited Semi-annual Report 2015
XII、Illegal delisting Risk Disclosure
□ applicable √ not applicable
XIII、Statement of other important matters
□ applicable √ not applicable
19
Chongqing Changan Automobile Company Limited Semi-annual Report 2015
VI Stake Change and shareholders Information
I、Stake changes
before this change increase or decrease of this change after this change
issue
Proportion Proportion
Amount new Bonus Equity Fund Other Subtotal Amount
(%) (%)
shares
一、
Shares of limited sale 373,381,553 8.01% 1438 1438 373,382,991 8.01%
condition
1、
Shareholdings of
373,358,342 8.01% 373,358,342 8.01%
state-owned legal
personnel
2、
Shares of senior 23,211 0% 1,438 1,438 24,649 0%
managers
二、
Shares of infinite sale 4,289,504,555 91.99% -1,438 -1,438 4,289,503,117 91.99%
condition
1、
3,387,518,413 72.65% -1,438 -1,438 3,387,516,975 72.65%
RMB common stake
2、
Foreign shares listed 901,986,142 19.34% 901,986,142 19.34%
abroad
三、
4,662,886,108 100% 4,662,886,108 100%
Total shares
Reason of stake change
□ applicable √ not applicable
Approval of stake change
□ applicable √ not applicable
Ownership transfer of stake change
□ applicable √ not applicable
20
Chongqing Changan Automobile Company Limited Semi-annual Report 2015
The influence of share change on financial indicators, such as the latest year and the latest basic earnings per share and diluted
earnings per share, the net assets per share belonging to the common shareholder of the company
□ applicable √ not applicable
Other contents which the company thinks it’s necessary and securities supervison institution requires to publish.
□ applicable √ not applicable
Statement of change of total shares and shareholder structure, corporate assets and liabilities structure
□ applicable √ not applicable
Change in Non-circulated shares
Non-circulated Non-circulated
Decrease during the Increase during the Reason for Date for the
Name of shareholders shares held at the shares held at the
reporting period reporting period non-circulated shares circulated shares
year-begining year-end
China Changan Stock reform
373,358,342 - - 373,358,342 June 30, 2016
Automobile Co., Ltd. commitment
Ren Qiang 4,311 - 1,438 5,749 Mangement shares Oct.7,2015
6 months after the
Zhu Huarong 18,900 - - 18,900 Mangement shares
retirement
Total 373,381,553 - 1,438 373,382,991 -- --
II、Amount of shareholders and shareholdings
Unit: 1 share
Total amount of shareholders at the The total amount of shareholders is 193,149, and A shareholder is171,740, B shareholder
end of report period is 21,409.
Shareholders’ holdings whose shares are over 5%.
Shareholding changes Pledge or freezing
Share amount Share amount
Nature of amount at the during the situation
Shareholder Name stake（%） of limited sale of infinite
shareholders end of report report
condition share condition share status amount
period period
China Changan
state owned no pledge or
Automobile Group 39.11% 1,823,595,216 - 373,358,342 1,450,236,874 0
legal person freeze
Co., Ltd.
Chinese life insurance domestic
Co. Ltd. -dividend - non-state no pledge or
1.54% 71,807,554 42,776,452 71,807,554 0
personal dividend legal person freeze
-005L-FH002 Shen shares
21
Chongqing Changan Automobile Company Limited Semi-annual Report 2015
domestic
National Social
non-state no pledge or
Security Fund- 1.29% 60,014,324 - 60,014,324 0
legal person freeze
Portfolio 102
shares
United Prosperity
foreign legal no pledge or
Investment Co., 0.97% 45,195,100 - 45,195,100 0
person shares freeze
Limited(UPI),
HTHK-MANULIFE
foreign legal no pledge or
CHINA VALUE 0.74% 34,519,781 -3,992,673 34,519,781 0
person shares freeze
FUND
MORGAN STANLEY
& CO. foreign legal no pledge or
0.66% 30,681,619 18,802,003 30,681,619 0
INTERNATIONAL person shares freeze
PLC
GAOLING foreign legal no pledge or
0.58% 26,839,458 24,232,654 26,839,458 0
FUND,L.P. person shares freeze
GIC PRIVATE foreign legal no pledge or
0.54% 25,124,631 8,504,126 25,124,631 0
LIMITED person shares freeze
MANULIFE foreign legal no pledge or
0.53% 24,562,150 -4,047,640 24,562,150 0
GLOBAL FUND person shares freeze
domestic
Chinese life insurance non-state no pledge or
0.51% 23,646,258 23,646,258 23,646,258 0
Co. Ltd - legal person freeze
shares
Top 10 Shareholder Information of Infinite Sale Condition
Share amount of infinite sale stock class
Shareholder Name
condition at the end of report period stock class amount
RMB Common
China Changan Automobile Group Co., Ltd. 1,450,236,874 1,450,236,874
Stock
Chinese life insurance Co. Ltd. -dividend - personal RMB Common
71,807,554 71,807,554
dividend -005L-FH002 Shen Stock
RMB Common
National Social Security Fund- Portfolio 102 60,014,324 60,014,324
Stock
domestic foreign
United Prosperity Investment Co., Limited(UPI), 45,195,100 45,195,100
share
domestic foreign
HTHK-MANULIFE CHINA VALUE FUND 34,519,781 34,519,781
share
domestic foreign
MORGAN STANLEY & CO. INTERNATIONAL PLC 30,681,619 30,681,619
share
22
Chongqing Changan Automobile Company Limited Semi-annual Report 2015
domestic foreign
GAOLING FUND,L.P. 26,839,458 26,839,458
share
domestic foreign
GIC PRIVATE LIMITED 25,124,631 25,124,631
share
domestic foreign
MANULIFE GLOBAL FUND 24,562,150 24,562,150
share
Chinese life insurance (Group) Ltd - traditional - RMB Common
23,646,258 23,646,258
General insurance products -005L-CT001shen Stock
Among the top 10 shareholders, China Changan Automobile Group Co.,
Correlation or concerted action among top 10 infinite Ltd., the controlling shareholder, and its wholly owned subsidiary United
sale tradable share holders, and between top 10 infinite Prosperity Investment Co., Limited belong to the concerted actor regulated
sale tradable share holders and top 10 shareholders. by “Disclosure Administration of Shares Change Information of The Listed
Company”.
If any repurchase transaction appointment of shareholders during the report period
□ Yes √ No
III、Changes of controlling shareholders or actual controller.
Changes of controlling shareholders during the report period
□ applicable √not applicable
Changes of actual controllers during the report period
□ applicable √not applicable
23
Chongqing Changan Automobile Company Limited Semi-annual Report 2015
VII Directors, Supervisors and Senior Managers Information
I、Share ownership of directors, supervisors and senior managers
□ applicable √not applicable
The share ownership of the directors, supervisors and senior managers have no change during the report period, details refer to 2014
annual report.
II、Departure and firing information of the directors, supervisors and senior manager
Name Duties Type Date Reason
Zhou Zhiping Director Voted 25,Mar. 2015 Job demand
Zhang Dongjun Director Voted 25,Mar. 2015 Job demand
Ren Qiang Director、Vice President Outgoing 7, Apr. 2015 On age reason
Yuan Mingxue Vice President Appointment 7, Apr. 2015 Job demand
Li Wei Vice President Appointment 7, Apr. 2015 Job demand
VIII Financial Statements
I Auditing Report
Semi-annual report is audited
□Yes √ No
Without the semi-annual financial report audit.
II Financial statement
Financial in notes to the statements of the unit is: RMB yuan
1、Consolidated Balance Sheet
Account Ending Balance Opening Balance(Restated)
Current assets:
Cash 13,644,093,727.18 9,693,083,497.78
Deposit Reservation for Balance
Funds loaned to other financial institutions
Financial assets held for trading
Notes receivable 17,626,149,318.14 17,780,161,662.94
Accounts receivable 754,115,841.33 758,876,190.82
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Chongqing Changan Automobile Company Limited Semi-annual Report 2015
Prepayments 840,566,586.72 839,752,551.46
Premiums receivable
Reinsurance receivable
Reinsurance reserve receivable
Interest receivable 22,834,458.33 22,083,194.44
Dividend receivable 3,450,000,000.00 -
Other receivables 456,905,906.33 260,457,285.50
Reverse repurchase agreements
Inventories 7,537,500,129.55 6,572,186,481.51
Non-current assets within one year Other current assets
Other non-current assets 2,757,575.24 3,370,219.83
Total current assets 44,334,923,542.82 35,929,971,084.28
Non-current assets:
Entrustment loans and advances
Available-for-sale financial assets 497,596,774.00 544,456,774.00
Held-to-maturity investments
Long-term receivables
Long-term equity investments 14,084,720,179.90 12,623,989,600.46
Investment properties 9,330,018.56 9,460,145.04
Fixed assets 13,846,751,643.57 14,565,579,796.38
Construction in progress 2,009,339,839.34 1,273,996,965.24
Construction materials 96,690.75 96,690.75
Liquidation of fixed assets 12,412.53 12,412.53
Productive biological assets
Oil and gas asset
Intangible assets 2,966,870,464.69 2,878,965,225.15
Development expenditure 793,866,414.69 627,845,455.00
Goodwill 9,804,394.00 9,804,394.00
Long-term deferred expenses 2,492,131.42 1,687,863.32
Deferred tax assets 1,333,782,191.71 1,160,584,772.58
Other non-current assets 9,254,421.48 60,901,712.09
Total non-current assets 35,563,917,576.64 33,757,381,806.54
TOTAL ASSETS 79,898,841,119.46 69,687,352,890.82
Current liabilities:
Short-term loans 80,000,000.00 90,000,000.00
Due to The People’s Bank of China
25
Chongqing Changan Automobile Company Limited Semi-annual Report 2015
Placements of deposits from other financial institutions
Funds borrowed from other financial institutions
Financial liabilities held for trading
Notes payable 17,313,411,040.78 13,108,623,397.32
Accounts payable 14,906,845,367.89 13,038,793,688.31
Advances from customers 6,010,658,378.93 5,802,717,284.79
Repurchase agreements
Commission payable
Payroll payable 796,179,675.53 1,022,369,664.80
Taxes payable 439,019,079.41 36,024,006.54
Interest payables 21,686,487.22 73,458,000.00
Dividend payables 79,742.80 79,742.80
Other payables 1,430,546,275.96 2,007,416,635.58
Reinsurance payable
Reinsurance reserve payable
Commission of security trading
Commission of underwriting
Non-current liabilities within one year - -
Other current liabilities 3,231,476,299.48 2,921,898,971.68
Total current liabilities 44,229,902,348.00 38,101,381,391.82
Non-current liabilities:
Long-term loans - -
Bonds payable 1,973,143,639.87 1,971,184,679.89
Long-term payables - -
Special payables 132,490,778.32 146,635,935.13
Long-term payroll payables 41,905,434.06 48,317,000.00
Deferred income 2,624,968,828.71 2,687,392,181.26
Provisions 1,551,287,812.63 1,221,114,880.50
Deferred tax liabilities 50,004,765.38 55,915,125.00
Other non-current liabilities - -
Total non-current liabilities 6,373,801,258.97 6,130,559,801.78
Total liabilities 50,603,703,606.97 44,231,941,193.60
Owners’ equity (or Shareholders’ equity):
Paid up capital (or Share capital) 4,662,886,108.00 4,662,886,108.00
Capital reserves 3,227,489,320.83 3,227,489,320.83
Less: Treasury shares
26
Chongqing Changan Automobile Company Limited Semi-annual Report 2015
Special reserves 14,408,613.97 7,864,849.94
Surplus reserves 2,331,443,054.00 2,331,443,054.00
General reserve
Retained earnings 19,031,775,622.49 15,115,601,819.79
Other comprehensive income 236,551,933.72 292,013,397.24
Equity attributable to owners 29,504,554,653.01 25,637,298,549.80
Minority interests -209,417,140.52 -181,886,852.58
Total Owners’ equity (or Shareholders’ equity) 29,295,137,512.49 25,455,411,697.22
TOTAL LIABILITIES AND OWNERS’ EQUITY( OR
SHAREHOLDERS’ EQUITY) 79,898,841,119.46 69,687,352,890.82
2、Balance sheet
Account Ending Balance Opening Balance
Current assets:
Cash 12,767,290,886.88 8,828,152,864.35
Financial assets held for trading
Notes receivable 17,126,267,633.00 17,437,167,211.16
Accounts receivable 4,041,521,089.40 2,761,909,831.22
Prepayments 809,023,277.59 718,818,105.48
Interest receivable 22,834,458.33 22,083,194.44
Dividend receivable 3,450,000,000.00 -
Other receivables 517,069,333.39 668,159,856.84
Inventories 6,733,123,601.20 5,742,492,948.04
Non-current assets within one year
Other current assets - -
Total current assets 45,467,130,279.79 36,178,784,011.53
Non-current assets:
Available-for-sale financial assets 497,596,774.00 544,456,774.00
Held-to-maturity investments
Long-term receivables
Long-term equity investments 15,422,495,538.22 13,961,764,958.78
Investment properties
Fixed assets 11,545,074,377.18 12,096,357,952.31
Construction in progress 1,755,580,734.91 1,104,857,686.48
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Chongqing Changan Automobile Company Limited Semi-annual Report 2015
Construction materials 96,690.75 96,690.75
Liquidation of fixed assets
Productive biological assets
Oil and gas asset
Intangible assets 2,682,363,705.86 2,609,607,273.08
Development expenditure 704,721,283.96 553,114,237.90
Goodwill
Long-term deferred expenses 270,120.00 360,160.00
Deferred tax assets 1,281,334,773.82 1,074,871,906.67
Other non-current assets 9,254,421.48 60,901,712.09
Total non-current assets 33,898,788,420.18 32,006,389,352.06
TOTAL ASSETS 79,365,918,699.97 68,185,173,363.59
Current liabilities:
Short-term loans - -
Financial liabilities held for trading
Notes payable 16,527,601,110.78 12,543,099,927.12
Accounts payable 13,676,791,136.40 10,740,190,881.58
Advances from customers 6,100,573,739.52 5,759,636,471.07
Payroll payable 697,989,847.82 880,808,485.74
Taxes payable 768,398,693.52 377,767,827.46
Interest payable 20,988,000.00 73,458,000.00
Dividend payable - -
Other payables 1,070,405,402.06 1,689,613,940.30
Non-current liabilities within one year
Other current liabilities 3,069,599,059.39 2,699,580,446.95
Total current liabilities 41,932,346,989.49 34,764,155,980.22
Non-current liabilities:
Long-term loans - -
Bonds payable 1,973,143,639.87 1,971,184,679.89
Long-term payables
Special payables 66,318,418.23 76,263,426.13
Long-term payroll payables 22,738,102.16 27,778,000.00
Provisions 1,424,650,358.15 1,203,676,749.38
Deffered income 2,150,398,750.35 2,195,144,515.81
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Chongqing Changan Automobile Company Limited Semi-annual Report 2015
Deferred tax liabilities 48,886,125.00 55,915,125.00
Other non-current liabilities - -
Total non-current liabilities 5,686,135,393.76 5,529,962,496.21
Total liabilities 47,618,482,383.25 40,294,118,476.43
Owners’ equity (or Shareholders’ equity):
Paid up capital (or Share capital) 4,662,886,108.00 4,662,886,108.00
Capital reserves 2,831,662,835.16 2,831,662,835.16
Less: Treasury shares
Special reserves 5,550,803.42 3,127,864.50
Surplus reserves 2,331,443,054.00 2,331,443,054.00
General reserve
Retained earnings 21,638,284,141.14 17,744,494,650.50
Other comprehensive income 277,609,375.00 317,440,375.00
Equity attributable to owners 31,747,436,316.72 27,891,054,887.16
TOTAL LIABILITIES AND OWNERS ’ EQUITY( OR
SHAREHOLDERS’ EQUITY) 79,365,918,699.97 68,185,173,363.59
3、Consolidated Income Statement
Account Current Period Prior Period(Restated)
I. Total operating revenue 33,052,955,177.49 24,206,730,641.95
Including: operating revenue 33,052,955,177.49 24,206,730,641.95
Interest income
Earned premium
Fee and commission income
II. Total operating cost 33,023,008,456.55 24,760,672,697.57
Including: Operating cost 27,249,934,200.22 19,995,482,492.16
Interest expenses
Fee and commission expenses
Surrender value
Compensation expenses
Net insurance contract reserve
Policy dividend expenses
Reinsurance expenses
Business tax and surcharges 1,545,626,871.52 925,095,503.04
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Chongqing Changan Automobile Company Limited Semi-annual Report 2015
Operating expenses 2,135,150,631.89 2,115,030,025.67
General and administrative expenses 2,039,913,264.88 1,603,360,209.07
Financial expenses -75,769,863.16 89,149,560.21
Impairment loss on assets 128,153,351.20 32,554,907.42
Add: Profit and loss from fair value changes (‘-‘ represent
- -
loss)
Investment income (‘-‘ represent loss) 4,962,949,794.75 4,084,040,246.48
Including: Investment income from associates and
from joint venture 4,910,730,579.44 3,998,756,500.66
Net foreign exchange differences(‘-’ means loss)
III. Operating profit (‘-’ represent loss) 4,992,896,515.69 3,530,098,190.86
Add: Non-operating income 253,309,797.80 90,453,586.04
Less: Non-operating expenses 17,005,016.11 5,254,638.33
Including: loss on disposal of non-current assets 2,420,217.68 2,119,964.57
IV. Total profit(‘-’ represent loss) 5,229,201,297.38 3,615,297,138.57
Less: Income tax expense 171,465,058.19 -530,676.54
V. Net profit (‘-’ represent net loss) 5,057,736,239.19 3,615,827,815.11
Including: The net profit of the combined parties before
business combination
Net profit attributable to owners 5,085,266,527.13 3,628,092,998.93
Minority interests -27,530,287.94 -12,265,183.82
VI. Earnings per share: -- --
I) Basic earnings per share 1.09 0.78
II) Diluted earnings per share 1.09 0.78
VII. Other comprehensive income -55,461,463.52 -61,466,744.58
VIII. Total comprehensive income 5,002,274,775.67 3,554,361,070.53
Total comprehensive income attributable to owners 5,029,805,063.61 3,566,626,254.35
Total comprehensive income attributable to minority interest -27,530,287.94 -12,265,183.82
4、Income Statement
Account Current Period Prior Perid
I. Operating revenue 32,515,813,857.05 24,162,773,507.80
Less: Operating cost 27,233,358,002.09 20,396,414,542.63
Business tax and surcharges 1,418,666,970.14 814,897,980.81
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Chongqing Changan Automobile Company Limited Semi-annual Report 2015
Operating expenses 1,958,088,618.34 1,871,260,928.21
General and administrative expenses 1,784,731,700.98 1,323,876,983.17
Financial expenses -63,610,178.21 79,080,657.88
Impairment loss on assets 131,306,302.80 37,227,690.27
Add: Profit and loss from fair value Changes (‘-’ represent
loss) 0
Investment income (‘-’ represent loss) 4,962,949,794.75 4,035,833,936.12
Including: Investment income from associates and
from joint venture 4,910,730,579.44 3,998,756,500.66
II. Operating profit (‘-’ represent loss) 5,016,222,235.66 3,675,848,660.95
Add: Non-operating income 195,534,855.82 50,691,349.03
Less: Non-operating expenses 15,224,346.18 4,693,802.21
Including: loss on disposal of non-current assets 2,127,667.41 1,873,228.67
III. Total profit(‘-’ represent loss) 5,196,532,745.30 3,721,846,207.77
Less: Non-operating expenses 133,650,530.23 -13,706,094.10
IV. Net profit (‘-’ represent net loss) 5,062,882,215.07 3,735,552,301.87
V. Earnings per share: -- --
I) Basic earnings per share 1.09 0.80
II) Diluted earnings per share 1.09 0.80
VI. Other comprehensive income -39,831,000.00 -20,820,750.00
VII. Total comprehensive income 5,023,051,215.07 3,714,731,551.87
5、Consolidated cash flow statement
Account Current Period Prior Perid(Restated)
I. CASH FLOWS FROM OPERATING ACTIVITIES:
Cash received from sale of goods or rendering of services 35,141,800,670.55 22,950,249,965.77
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
Net increase in disposal of financial assets held for trading
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Chongqing Changan Automobile Company Limited Semi-annual Report 2015
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 79,197,122.73 53,487,718.04
Cash received relating to other operating activities 293,128,460.73 201,301,781.54
Sub-total of cash inflows 35,514,126,254.01 23,205,039,465.35
Cash paid for goods and services 20,825,746,616.91 13,693,761,452.04
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 2,646,019,208.40 2,056,666,113.04
Cash paid for all types of taxes 1,835,356,877.92 1,487,128,110.75
Cash paid relating to other operating activities 2,446,315,442.84 2,077,759,761.44
Sub-total of cash outflows 29,077,977,275.98 19,663,544,204.44
Net cash flows from operating activities 6,436,148,978.03 3,541,495,260.91
II. CASH FLOWS FROM INVESTING ACTIVITIES:
Cash received from disposal of investments 601,825.61 1,674,312.38
Cash received from return on investments 52,219,215.31 4,135,283,745.82
Net cash received from disposal of fixed assets, intangible
1,674,312.38 1,144,000.58
assets and other long-term assets
Cash and cash equivalents of subsidiary receipts upon a
acquisition
Cash received relating to other investing activities 300,000 -
Sub-total of cash inflows 53,121,040.92 4,141,067,743.11
Cash paid for acquisition of fixed assets, intangible assets and
1,254,680,057.74 857,449,389.06
other long-term assets
Cash paid for acquisition of investments 16,735.26 440,606,230.50
Net increase in pledged loan
Cash paid for acquisition of subsidiary and other business
units
Cash paid relating to other investing activities 80,000.00
32
Chongqing Changan Automobile Company Limited Semi-annual Report 2015
Sub-total of cash outflows 1,298,055,619.56 1,289,809,001.70
Net cash flows from investing activities 2,843,012,123.55 378,986,812.76
III. CASH FLOWS FROM FINANCING ACTIVITIES:
Cash received from absorbing investment 59,542,544.63 352,099,306.98
Including: cash received from absorbing investment from
minority interest of subsidiary
Cash received from borrowings 60,000,000.00 60,000,000.00
Cash received from issuing bond
Cash received relating to other financing activities 59,542,544.63 352,099,306.98
Sub-total of cash inflows 119,542,544.63 412,099,306.98
Cash repayments of borrowings 70,000,000.00 2,870,000,000.00
Cash paid for distribution of dividends or profits and interest
1,267,345,683.09 641,699,921.19
expenses
Including: cash paid for dividends or profits and interest
expenses to minority interest of subsidiary
Cash paid relating to other financing activities 38,256,025.88 30,016,176.26
Sub-total of cash outflows 1,375,601,708.97 3,541,716,097.45
Net cash flows from financing activities -1,256,059,164.34 -3,129,616,790.47
IV. EFFECT OF CHANGES IN EXCHANGE RATE ON
3,584,274.45 -1,089,663.44
CASH
V. NET INCREASE IN CASH AND CASH
3,982,053,336.06 3,253,800,930.55
EQUIVALENTS
Add: Opening balance of cash and cash equivalents 9,362,853,917.71 3,942,941,861.56
VI. CLOSING BALANCE OF CASH AND CASH
13,344,907,253.77 7,196,742,792.11
EQUIVLANT
6、Cash flow statement
Account Current Period Prior Perid
I. CASH FLOWS FROM OPERATING ACTIVITIES:
Cash received from sale of goods or rendering of services 33,582,257,227.09 21,373,247,295.30
Refunds of taxes - -
Cash received relating to other operating activities 241,396,550.70 109,617,973.85
Sub-total of cash inflows 33,823,653,777.79 21,482,865,269.15
Cash paid for goods and services 20,278,237,719.02 13,167,625,862.58
Cash paid to and on behalf of employees 2,171,374,068.18 1,620,130,685.89
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Chongqing Changan Automobile Company Limited Semi-annual Report 2015
Cash paid for all types of taxes 2,909,386,502.31 1,629,267,335.44
Cash paid relating to other operating activities 2,241,148,509.78 1,685,109,380.73
Sub-total of cash outflows 27,600,146,799.29 18,102,133,264.64
Net cash flows from operating activities 6,223,506,978.50 3,380,732,004.51
II. CASH FLOWS FROM INVESTING ACTIVITIES:
Cash received from disposal of investments - -
Cash received from return on investments 52,219,215.31 4,087,077,435.46
Net cash received from disposal of fixed assets, intangible
70,105,285.24 1,467,422.65
assets and other long-term assets
Cash received from disposal of subsidiary and other business
units
Cash received relating to other investing activities - 208,000,000.00
Sub-total of cash inflows 122,324,500.55 4,296,544,858.11
Cash paid for acquisition of fixed assets, intangible assets and
1,141,743,757.62 723,423,002.30
other long-term assets
Cash paid for acquisition of investments 16,735.26 440,606,230.50
Cash paid for acquisition of subsidiary and other business
units
Cash paid relating to other investing activities
Sub-total of cash outflows 1,141,760,492.88 1,164,029,232.80
Net cash flows from investing activities -1,019,435,992.33 3,132,515,625.31
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 - 2,790,000,000.00
Cash paid for distribution of dividends or profits and interest
1,264,932,963.64 630,866,458.31
expenses
Cash paid relating to other financing activities
Sub-total of cash outflows 1,264,932,963.64 3,420,866,458.31
Net cash flows from financing activities -1,264,932,963.64 -3,420,866,458.31
IV. EFFECT OF CHANGES IN EXCHANGE RATE ON
CASH
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Chongqing Changan Automobile Company Limited Semi-annual Report 2015
V. NET INCREASE IN CASH AND CASH
3,939,138,022.53 3,092,381,171.51
EQUIVALENTS
Add: Opening balance of cash and cash equivalents 8,828,152,864.35 3,290,584,684.00
VI. CLOSING BALANCE OF CASH AND CASH
12,767,290,886.88 6,382,965,855.51
EQUIVLANT
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Chongqing Changan Automobile Company Limited Semi-annual Report 2015
7、Consolidated statement of changes in shareholders’ equity
Current period
Equity attributable to owners
Items
Less: General
Special Minority interest Total equity
Share capital Capital reserves Treasury Surplus reserves reserve Retained earnings Others
reserves
shares s
I. At end of
4,662,886,108.00 3,227,489,320.83 - 7,864,849.94 2,331,443,054.00 - 15,115,601,819.79 292,013,397.24 -181,886,852.58 25,455,411,697.22
last year
Add: Accounting
policy changes
Amendment of
prior error
Others
II. At
4,662,886,108.00 3,227,489,320.83 - 7,864,849.94 2,331,443,054.00 - 15,115,601,819.79 292,013,397.24 -181,886,852.58 25,455,411,697.22
beginning of year
III. Changes
during the year (‘－” - - - 6,543,764.03 - - 3,916,173,802.70 -55,461,463.52 -27,530,287.94 3,839,725,815.27
means less)
I) Net profit - - - - - - 5,085,266,527.13 - -27,530,287.94 5,057,736,239.19
II) Other
- - - - - - - -55,461,463.52 - -55,461,463.52
comprehensive income
Subtotal of I) and II) - - - - - - 5,085,266,527.13 -55,461,463.52 -27,530,287.94 5,002,274,775.67
III) Input by
investors and decrease in
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Chongqing Changan Automobile Company Limited Semi-annual Report 2015
capital
1．Capital input by
investors
2．Equity-settled
share-based payment
3．Others
IV) Distribution
-1,169,092,724.43 - - -1,169,092,724.43
of profits
1．Pick-up of surplus
reserves
2．Pick-up of general
reserves
3．Distribution to owners -1,169,092,724.43 - - -1,169,092,724.43
4．Others
V) Internal
transfer of shares
1．Capital reserves
transfer to share capital
2．Capital increase from
surplus reserve
3．The deficit covered
by surplus reserve
4．Others
VI) Special
- - - 6,543,764.03 - - - - - 6,543,764.03
reserve
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Chongqing Changan Automobile Company Limited Semi-annual Report 2015
1 ． Pick-up in current
- - - 24,945,260.20 - - - - - 24,945,260.20
period
2．Used in current period - - - -18,401,496.17 - - - - - -18,401,496.17
VII) Others
IV. At end of
4,662,886,108.00 3,227,489,320.83 - 14,408,613.97 2,331,443,054.00 - 19,031,775,622.49 236,551,933.72 -209,417,140.52 29,295,137,512.49
year
Prior period
Prior period
Equity attributable to owners
Less:
Items Treas General
Special Minority interest Total equity
Share capital Capital reserves ury Surplus reserves reserve Retained earnings Others
reserves
share s
s
I. At end of last
4,662,886,108.00 3,078,557,394.14 1670967.02 1,816,272,976.53 9,233,857,503.02 -14,890,520.83 -138,401,842.19 18,639,952,585.69
year
Add: Accounting policy
changes
Amendment of prior
error
Others 775,528,610.9 -690,266,354.6 85,262,256.23
II. At beginning of
4,662,886,108.00 3,854,086,004.99 1670967.02 1,816,272,976.53 8,543,591,148.40 -14,890,520.83 -138,401,842.19 18,725,214,841.92
year
III. Changes during
-460,489,299.23 2063252.23 3,160,696,071.45 716,558.75 -12,265,183.82 2,690,721,399.38
the year (‘－” means less)
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Chongqing Changan Automobile Company Limited Semi-annual Report 2015
I) Net profit 3,628,092,998.93 -12,265,183.82 3,615,827,815.11
II) Other
-62,183,303.33 716,558.75 -61,466,744.58
comprehensive income
Subtotal of I) and II) -62,183,303.33 3,628,092,998.93 716,558.75 -12,265,183.82 3,554,361,070.53
III) Input by investors
-398305995.9 -398305995.9
and decrease in capital
1．Capital input by investors
2 ． Equity-settled share-based
payment
3．Others -398305995.9 -398305995.9
IV) Distribution of
-467,396,927.48 -467,396,927.48
profits
1．Pick-up of surplus reserves
2．Pick-up of general reserves
3．Distribution to owners -467,396,927.48 -467,396,927.48
4．Others
V) Internal transfer
of shares
1．Capital reserves transfer to
share capital
2 ． Capital increase from
surplus reserve
3 ． The deficit covered by
surplus reserve
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Chongqing Changan Automobile Company Limited Semi-annual Report 2015
4．Others
VI) Special reserve 2063252.23 2063252.23
1．Pick-up in current period 17409112.53 17409112.53
2．Used in current period -15345860.3 -15345860.3
VII) Others
IV. At end of year 4,662,886,108.00 3,393,596,705.76 0 3734219.25 1,816,272,976.53 0 11,704,287,219.85 -14,173,962.08 -150,667,026.01 21,415,936,241.30
8、Statement of changes in shareholders’ equity
Current period
Less:
Items Special
Share capital Capital reserves Treasury Surplus reserves Others Retained earnings Total equity
reserves
shares
I. At end of last year 4,662,886,108.00 2,831,662,835.16 - 3,127,864.50 2,331,443,054.00 317,440,375.00 17,744,494,650.50 27,891,054,887.16
Add: Accounting policy changes 0.00
Amendment of prior error 0.00
Others 0.00
II. At beginning of year 4,662,886,108.00 2,831,662,835.16 - 3,127,864.50 2,331,443,054.00 317,440,375.00 17,744,494,650.50 27,891,054,887.16
III. Changes during the year (‘－”
- - - 2,422,938.92 - -39,831,000.00 3,893,789,490.64 3,856,381,429.56
means less)
I) Net profit - - - - - - 5,062,882,215.07 5,062,882,215.07
II) Other comprehensive income - - - - - -39,831,000.00 - -39,831,000.00
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Chongqing Changan Automobile Company Limited Semi-annual Report 2015
Subtotal of I) and II) - - - - - -39,831,000.00 5,062,882,215.07 5,023,051,215.07
III) Input by investors and decrease
in capital
1．Capital input by investors
2．Equity-settled share-based payment
3．Others
IV) Distribution of profits -1,169,092,724.43 -1,169,092,724.43
1．Pick-up of surplus reserves
2．Pick-up of general reserves
3．Distribution to owners -1,169,092,724.43 -1,169,092,724.43
4．Others
V) Internal transfer of shares
1．Capital reserves transfer to share capital
2．Capital increase from surplus reserve
3．The deficit covered by surplus reserve
4．Others
VI) Special reserve - - - 2,422,938.92 - - - 2,422,938.92
1．Pick-up in current period - - - 15,574,692.00 - - - 15,574,692.00
2．Used in current period - - - -13,151,753.08 - - - -13,151,753.08
VII) Others
IV. At end of year 4,662,886,108.00 2,831,662,835.16 - 5,550,803.42 2,331,443,054.00 277,609,375.00 21,638,284,141.14 31,747,436,316.72
Prior period
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Chongqing Changan Automobile Company Limited Semi-annual Report 2015
Prior period
Less:
Items Special General
Share capital Capital reserves Treasury Surplus reserves Retained earnings Total equity
reserves reserves
shares
I. At end of last year 4,662,886,108.00 3,366,723,267.88 1,816,272,976.53 10,645,127,982.64 20,491,010,335.05
Add: Accounting policy changes
Amendment of prior error
Others
II. At beginning of year 4,662,886,108.00 3,366,723,267.88 1,816,272,976.53 10,645,127,982.64 20,491,010,335.05
III. Changes during the year (‘－”
-419,126,745.90 61,739.42 3,268,155,374.39 2,849,090,367.91
means less)
I) Net profit 3,735,552,301.87 3,735,552,301.87
II) Other comprehensive income -20,820,750.00 -20,820,750.00
Subtotal of I) and II) -20,820,750.00 3,735,552,301.87 3,714,731,551.87
III) Input by investors and decrease
-398,305,995.90 -398,305,995.90
in capital
1．Capital input by investors
2．Equity-settled share-based payment
3．Others -398,305,995.90 -398,305,995.90
IV) Distribution of profits -467,396,927.48 -467,396,927.48
1．Pick-up of surplus reserves
2．Pick-up of general reserves
3．Distribution to owners -467,396,927.48 -467,396,927.48
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Chongqing Changan Automobile Company Limited Semi-annual Report 2015
4．Others
V) Internal transfer of shares
1．Capital reserves transfer to share capital
2．Capital increase from surplus reserve
3．The deficit covered by surplus reserve
4．Others
VI) Special reserve 61,739.42 61,739.42
1．Pick-up in current period 10,260,000.00 10,260,000.00
2．Used in current period -10,198,260.58 -10,198,260.58
VII) Others
IV. At end of year 4,662,886,108.00 2,947,596,521.98 61,739.42 1,816,272,976.53 0.00 13,913,283,357.03 23,340,100,702.96
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Chongqing Changan Automobile Company Limited Semi-annual Report 2015
III、Corporate information
Chongqing Changan Automobile Company Limited (hereafter referred to as the “Company”) was established by
China Changan Automobile Group (hereafter referred to as the “Changan Group”) as the individual originator on
31 October 1996. The company was set up using the group’s net asset relating to the operation of mini cars and
engine, the shares its owned in Chongqing Changan Suzuki company limited (506,190,000 shares) and the fund
raising from the issuance of 250,000,000 foreign capital stock (B shares), with total share capital of
RMB756,190,000. The Legal Representative’s Operating License issued by Chongqing Industrial and Commercial
Administrative Bureau is Yu-Jing No. 28546236-3.
With the approval of China securities regulatory commission, the company initially floated on share market on 19
May 1997 by issuing120,000,000 common shares(A share) to the public. The offering increased the total share
capital to RMB876,190,000.
On 26 June 1998, the Company issued 4 shares for each 10 shares to existing shareholders of the original
876,190,000 shares. The issuance was made from capital common reserve and increased the total share capital to
RMB1,226,666,000.
On 26 May 2004, the Company offered 2 bonus shares for each 10 shares holding by existing shareholder which
increased the total share capital from RMB1,226,666,000 to RMB1,471,999,200.
On 26 August 2004, with the approval of China securities regulatory commission, the Company offered
148,850,000 common shares (A share) to the market which increased the total share capital to RMB1,620,849,200.
In December 2005, China South Industries Group Corporation (hereafter referred to as the “South Group”), the
ultimate parent company, used the common share (850,399,200 shares) owned by its subsidiary of Changan Group,
as part of the investment to established China South industries Motor Company (hereafter referred to as ”South
Industries Motor”). The share occupied 52.46% of the Company’s total share capital. Therefore, South industries
Motor became the parent company of Chongqing Changan. On 30 March 2006, the transfer of share was registered
by Shenzhen branch of China Securities Depository and Clearing Corporation limited.
In May 2006, South Industries Motor issued 3.2 bonus shares for each 10 shares to the shareholders at the
implementation date of reformation of non-tradable shares for their non-tradable shares according to the ”Reply of
the problems related the reformation of non-tradable shares of Chongqing Changan Automobile Co., Ltd.”
(2006[442] Guo Zi Chan Quan) issued by the State-owned Assets Supervision and Administration Commission of
State Council and the related shareholder’s meeting. After the reformation of non-tradable shares, South Industries
Motor occupied 45.548% of equity through 738,255,200 common shares.
On 15 May 2007, the Company issued 2 bonus shares for each 10 shares to existing shareholders which increased
the total share capital from RMB1,620,849,200 to RMB1,945,019,040 .
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Chongqing Changan Automobile Company Limited Semi-annual Report 2015
On 30 May 2008, the Company issued 2 shares for each 10 shares owned by existing shareholders. The total
issuance of 389,003,808 shares was made from common reserve in capital. After this issuance, total share capital
increased to RMB2,334,022,848.
On 3 March 2009, the secondary temporary shareholder meeting was held. The board resolution about ‘the
reacquisition of foreign capital stock listed in China’ was approved in the meeting. For the buyback period ended
on 3 March 2010, the company repurchased 8,365,233 shares in total, equal to 0.3584% of total capital. On 17
March 2010, the company cancelled the share and the share capital decreased to RMB2,325,657,615.
On 1 July 2009, with the approval of State Administration for Industry and Commercial, South industries Motor,
the parent company changed its name as China Changan Automobile Industry (Group) Co., Ltd. (hereafter refer to
as the “China Changan”).
With the approval of China securities regulatory commission on 14 January 2011, the Company issued
360,166,022 common shares (A share), which increased the total share capital to RMB2,685,823,637. After the
completion of the issuance, China Changan hold 1,163,787,489 shares of the Company's common stock, and the
held equity interest decreased to 43.33%.
On 18 May 2011, the Company issued 4 bonus shares for each 10 shares and issued 4 shares to 10 shares from
common reserve in capital to existing shareholders. After this issuance, the total share capital has been increased to
RMB4,834,482,546.
On 21 December 2011, the first temporary shareholder meeting was held. The board resolution about ‘the
reacquisition of foreign capital stock listed in China’ was approved in the meeting. For the buyback period ended
on 20 March 2012, the company repurchased 171,596,438 shares in total, equal to 3.55% of total capital. On 30
March 2012, the company cancelled the share and the share capital decreased to RMB4,662,886,108.
On 24 August 2012, the Company obtained a new business license with registration number of 500000000005061.
From September to December 2013, China Changan, the parent company of the Company, continuously sold
181,260,000 shares in total in secondary market. As at 31 December 2013, China Changan held 1,913,557,480
shares of the Company's ordinary share, with shares proportion decreasing to 41.04%.
During 2014, China Changan, the parent company of the Company, continuously sold 89,962,264 shares in total in
secondary market. As at 31 December 2014, China Changan holds 1,823,595,216 shares of the Company’s
ordinary shares, with shares proporation decreasing to 39.11%.
As at 30 June 2015, the Company’s parent company and ultimate controlling company is China Changan and
South Industries respectively.
The Company and its subsidiaries (hereafter referred to as the “Group”) mainly focus on the manufacturing and
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Chongqing Changan Automobile Company Limited Semi-annual Report 2015
sales of automobile (include cars), automobile engine, spare parts.
IV BASIS OF PREPERATION
1. Basis of preparation
The financial statements have been prepared in accordance with Accounting Standards for Business
Enterprises-Basic Standard and the specific standards issued and modified subsequently, and the implementation
guidance, interpretations and other relevant provisions issued subsequently by the MOF (correctly referred to as
“Accounting Standards for Business Enterprises”).
The financial statements have been prepared under the historical cost convention, except for certain financial
instruments. If the assets are impaired, the corresponding provisions should be made accordingly. The assets are
recorded at assessed value by State-owned Assets Supervision and Administration Commission of the State
Council, which are invested into the Group in the reforming period.
2. Going operations
The company assesses the ongoing operation capability for the next 12 months after the report period, and does
not find any concern which could impact the ongoing operation capability. The financial statements on a going
concern basis are reasonable.
V Significant accounting policies and accounting estimates
1. Statement of compliance with Accounting Standards for Business Enterprises
The financial statements present fairly and fully, the financial position of the Company as at June 30, 2015 and the
financial results and the cash flows for 1-6 month then ended in accordance with Accounting Standards for
Business Enterprises。
2. Accounting year
The accounting year of the Group is from 1 January to 31 December of each calendar year 。
3. Functional currency
The Group’s functional and reporting currency is the Renminbi (“RMB”). Unless otherwise stated, the unit of the currency is Yuan.
Each entity in the Group determines its own functional currency in accordance with the operating circumstances. At the end of the
reporting period, the foreign currency financial statements are translated into the reporting currency of the Company of RMB .
46
Chongqing Changan Automobile Company Limited Semi-annual Report 2015
4、Business combination
A business combination is a transaction or event that brings together two or more separate entities into one
reporting entity. Business combinations are classified into business combinations involving entities under
common control and business combinations involving entities not under common control.
Business combination involving entities under common control
A business combination involving entities under common control is a business combination in which all of the
combining entities are ultimately controlled by the same party or parties both before and after the combination,
and that control is not transitory. For a business combination involving entities under common control, the party
which, on the combination date, obtains control of another entity participating in the combination is the acquiring
party, while that other entity participating in the combination is a party being acquired. Combination date is the
date on which the acquiring party effectively obtains control of the party being acquired.
Assets and liabilities that are obtained by the acquiring party in a business combination involving entities under
common control shall be measured at their carrying amounts at the combination date as recorded by the party
being acquired. The difference between the carrying amount of the net assets obtained and the carrying amount of
the consideration paid for the combination (or the aggregate face value of shares issued as consideration) shall be
adjusted to capital reserve. If the capital reserve is not sufficient to absorb the difference, any excess shall be
adjusted against retained earnings.
Business combination involving entities not under common control
A business combination involving entities not under common control is a business combination in which all of the
combining entities are not ultimately controlled by the same party or parties both before and after the combination.
For a business combination involving entities not under common control, the party that, on the acquisition date,
obtains control of another entity participating in the combination is the acquirer, while that other entity
participating in the combination is the acquiree. Acquisition date is the date on which the acquirer effectively
obtains control of the acquiree.
The acquirer shall measure the acquiree’s identifiable assets, liabilities and contingent liabilities acquired in the
business combination at their fair values on the acquisition date.
Where the sum of the fair value of the consideration transferred (or the fair value of the issued equity securities)
and the fair value of the acquirer’s previously held equity interest in the acquiree exceeds the acquirer’s interest in
the fair value of the acquiree’s identifiable net assets, the difference shall be recognized as goodwill and measured
at cost less any accumulated impairment losses. Where the sum of the fair value of the consideration transferred
(or the fair value of the issued equity securities) and the fair value of the acquirer’s previously held equity interest
in the acquiree is less than the acquirer’s interest in the fair value of the acquiree’s identifiable net assets, the
difference shall be accounted for according to the following requirements: (i) the acquirer shall reassess the
measurement of the fair values of the acquiree’s identifiable assets, liabilities and contingent liabilities and
measurement of the fair value of the consideration transferred (or the fair value of the issued equity securities) and
the fair value of the acquirer’s previously held equity interest in the acquiree; (ii) if after that reassessment, the
sum of the fair value of the consideration transferred (or the fair value of the issued equity securities) and the fair
value of the acquirer’s previously held equity interest in the acquiree is still less than the acquirer’s interest in the
fair values of the acquiree’s identifiable net assets, the acquirer shall recognize the remaining difference
47
Chongqing Changan Automobile Company Limited Semi-annual Report 2015
immediately in the income statement for the current period.
5、Consolidated financial statements
The scope of consolidation of consolidated financial statements is determined based on control, and includes the
financial statements of the Company and its subsidiaries as at June 30, 2015. A subsidiary is an enterprise or entity
that is controlled by the Group (including an enterprise, seperable part of the investee and a structured entity
controlled by the Company).
The financial statements of the subsidiaries are prepared for the same reporting period as the Company, using
consistent accounting policies. All intra-group assets and liabilities, equity, income, expenses and cash flows
relating to transactions between members of the Group are eliminated in full on consolidation.
When the current loss belong to minorities of the subsidiary exceeds the beginning equity of the subsidiary belong
to minorities, the exceeded part will still deduct the equity belong to minorities.
With respect to subsidiaries acquired through business combinations involving entities not under common control,
the operating results and cash flows of the acquiree should be included in the consolidated financial statements,
from the day that the Group gains control, till the Group ceases the control of it. While preparing the
consolidated financial statements, the acquirer should adjust the subsidiary’s financial statements, on the basis of
the fair values of the identifiable assets, liabilities and contingent liabilities recognized on the acquisition date.
With respect to subsidiaries acquired through business combinations involving entities under common control, the
operating results and cash flows of the acquiree should be included in the consolidated financial statements from
the beginning of the period in which the combination occurs.
If the changes of relevant facts and circumstances will result in the changes of one or more control elements, then
the Group should reassess whether has taken control of the investee.
6、Joint venture arrangement classification and joint operation
Joint venture arrangements are classified into joint operation and joint venture. Joint operation refers to those joint
venture arrangements, relevant assets and liabilities of which are enjoyed and assumed by the joint venturers. Joint
ventures refer to those joint venture arrangements, only the right to net assets of which is enjoyed by the joint
venturers.
Any joint venturer shall recognize the following items related to its share of benefits in the joint operation and
conduct accounting treatment in accordance with relevant accounting standards for business enterprises: assets it
solely holds and its share of jointly-held assets based on its percentage; liabilities it solely assumes and its share of
jointly-assumed liabilities based on its percentage; incomes from sale of output enjoyed by it from the joint
operation; incomes from sale of output from the joint operation based on its percentage; and separate costs and
costs for the joint operation based on its percentage.
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Chongqing Changan Automobile Company Limited Semi-annual Report 2015
7、Cash and cash equivalents
Cash comprises cash on hand and bank deposits which can be used for payment at any time; Cash equivalents are
short-term, highly liquid investments held by the Group, that are readily convertible to known amounts of cash
and which are subject to an insignificant risk of changes in value.
8. Foreign currency translation
The Group translates the amount of foreign currency transactions occurred into functional currency.
The foreign currency transactions are recorded, on initial recognition in the functional currency, by applying to the
foreign currency amount at the spot exchange rate on the transaction dates. Foreign currency monetary items are
translated using the spot exchange rate quoted by the People’s Bank of China at the balance sheet date. The
exchange gains or losses arising from occurrence of transactions and exchange of currencies, except for those
relating to foreign currency borrowings specifically for construction and acquisition of fixed assets capitalized, are
dealt with in the profit and loss accounts. Non-monetary foreign currency items measured at historical cost remain
to be translated at the spot exchange rate prevailing on the transaction date, and the amount denominated in the
functional currency should not be changed. Non-monetary foreign currency items measured at fair value should be
translated at the spot exchange rate prevailing on the date when the fair values are determined. The exchange
difference thus resulted should be charged to the current income or other comprehensive income account of the
current period.
When preparing consolidated financial statements, the financial statements of the subsidiaries presented in foreign
currencies are translated into Renminbi as follows: asset and liability accounts are translated into Renminbi at
exchange rates ruling at the balance sheet date; shareholders’ equity accounts other than retained profits are
translated into Renminbi at the applicable exchange rates ruling at the transaction dates; income and expense in
income statement are translated into Renminbi at spot exchange rates on transaction occurrence; total difference
between translated assets and translated liabilities and shareholders’ equity is separately listed as “foreign
currency exchange differences” below retained profits. The translation difference arising from the settlement of
oversea subsidiaries is charged to the current liquidation profit and loss in proportion to the settlement ratio of the
assets concerned.
Foreign currency cash flows and the cash flows of foreign subsidiaries should be translated using the average
exchange rate prevailing on the transaction month during which the cash flows occur. The amount of the effect on
the cash arising from the change in the exchange rate should be separately presented as an adjustment item in the
cash flow statement.
9. Financial instruments
A financial instrument is any contract that gives rise to a financial asset of one entity and a financial liability or
equity instrument of another entity.
Recognition and derecognition
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Chongqing Changan Automobile Company Limited Semi-annual Report 2015
The Group recognizes a financial asset or a financial liability, when the Group becomes a party to the contractual
provision of the instrument.
The Group derecognizes a financial asset (or part of a financial asset, or part of a group of similar financial assets),
be written off from the account and balance sheet , when the following conditions are met:
(1) the rights to receive cash flows from the asset have expired;
(2) the Group transferred the rights to receive cash flows from the asset, or has assumed an obligation to pay the
received cash flows in full without material delay to a third party under a “pass-through” arrangement; and
either (a) has transferred substantially all the risks and rewards of the asset, or (b) has neither transferred nor
retained substantially all the risks and rewards of the asset, but has transferred control of the asset.
If the underlying obligation of a financial liability has been discharged or cancelled or has expired, the financial
liability is derecognized. If an existing financial liability is replaced by the same creditor, with a new financial
liability that has substantially different terms, or if the terms of an existing financial liability are substantially
revised, such replacement or revision is accounted for as the derecognition of the original liability and the
recognition of a new liability, and the difference thus resulted is recognized in profit or loss for the current period.
When buy or sell financial instruments under a normal way, financial instruments are recognized or derecognized
according to the transaction date accounting. A normal way to buy or sell financial instruments refers to,
according to the contract terms, receive or deliver financial instruments within the period as required by legal
regulation or generally accepted guidelines. Transaction date refers to the date when the Group committed to buy
or sell financial instruments.
Classification and measurement of financial assets
Financial assets are, on initial recognition, classified into the following categories: financial assets at fair value
through profit or loss, held-to-maturity investments, loans and receivables, available-for-sale financial assets, and
the derivatives designated as effective hedging instrument. A financial asset is recognized initially at fair value.
In the case of financial assets at fair value through profit or loss, relevant transaction costs are directly charged to
the profit and loss of the current period; transaction costs relating to financial assets of other categories are
included in the amount initially recognized.
The subsequent measurement of financial assets depends on their classification as follows:
Financial assets at fair value through profit or loss
Financial assets at fair value through profit or loss include financial assets held for trading and those designated
upon initial recognition as at fair value through profit or loss. A financial asset held for trading is the financial
asset that meets one of the following conditions: the financial asset is acquired for the purpose of selling it in a
short term; the financial asset is a part of a group of identifiable financial instruments that are collectively
managed, and there is objective evidence indicating that the enterprise recently manages this group for the
purpose of short-term profits; the financial asset is a derivative, except for a derivative that is designated as
effective hedging instrument, or a financial guarantee contract, or a derivative that is linked to and must be settled
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Chongqing Changan Automobile Company Limited Semi-annual Report 2015
by delivery of an unquoted equity instrument (without a quoted price from an active market) whose fair value
cannot be reliably measured. For such kind of financial assets, fair values are adopted for subsequent
measurement. All the realized or unrealized gains or losses on these financial assets
are recognized in profit or loss for the current period. Dividend or interest income related to financial assets at fair
value through profit or loss is recognized in profit or loss for the current period.
Held-to-maturity investments
Held-to-maturity investments are non-derivative financial assets with fixed or determinable payments and fixed
maturity that an entity has the positive intention and ability to hold to maturity. Such kind of financial assets are
subsequently measured at amortized cost using the effective interest method. Gains or losses arising from
derecognition, impairment or amortization are recognized in profit or loss for the current period.
Loans and receivables
Loans and receivables are non-derivative financial assets with fixed or determinable payments that are not quoted
in an active market. Such kind of financial assets are subsequently measured at amortized cost using the effective
interest method. Gains or losses arising from derecognition, impairment or amortization are recognized in profit or
loss for the current period.
Available-for-sale financial assets
Available-for-sale financial assets are those non-derivative financial assets that are designated as available for sale
or are not classified as the above financial assets. After initial recognition, available-for-sale financial assets are
measured at fair value. The premium/discount is amortized using effective interest method and recognized as
interest income or expense. A gain or loss arising from a change in the fair value of an available-for-sale financial
asset is recognized in other comprehensive income as a component of capital reserve, except for impairment
losses and foreign exchange gains and losses resulted from monetary financial assets, until the financial asset is
derecognized or determined to be impaired, at which time the accumulated gain or loss previously recognized in
capital reserve is removed from capital reserve and recognized in profit or loss for the current period. Interests and
dividends relating to an available-for-sale financial asset are recognized in profit or loss for the current period.
The equity investment instruments, for which there is no quoted price in active market and whose fair value
cannot be reliably measured, shall be measured at cost.
Classification and measurement of financial liabilities
The Group’s financial liabilities are, on initial recognition, classified into the following categories: financial
liabilities at fair value through profit or loss, other financial liabilities, and the derivatives designated as effective
hedging instrument. For financial liabilities at fair value through profit or loss, relevant transaction costs are
directly recognized in profit or loss for the current period, and transaction costs relating to other financial
liabilities are included in the initial recognition amounts.
The subsequent measurement of financial liabilities depends on their classification as follows:
Financial liabilities at fair value through profit or loss
Financial liabilities at fair value through profit or loss include financial liabilities held for trading and those
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Chongqing Changan Automobile Company Limited Semi-annual Report 2015
designated as at fair value through profit or loss. A financial liability held for trading is the financial liability that
meets one of the following conditions: the financial liability is assumed for the purpose of repurchasing it in a
short term; the financial liability is a part of a group of identifiable financial instruments that are collectively
managed, and there is objective evidence indicating that the enterprise recently manages this group for the
purpose of short-term profits; the financial liability is a derivative, except for a derivative that is designated and
effective hedging instrument, or a financial guarantee contract, or a derivative that is linked to and must be settled
by delivery of an unquoted equity instrument (without a quoted price form an active market) whose fair value
cannot be reliably measured. For such kind of financial liabilities, fair values are adopted for subsequent
measurement. All the realized or unrealized gains or losses on these financial liabilities are recognized in profit or
loss for the current period.
Other financial liabilities
After initial recognition, these financial liabilities are measured at amortized cost using the effective interest
method.
Offsetting of financial instrumentsts
Financial assets and financial liabilities are offset and the net amount is reported in the balance sheet if there is a
currently enforceable legal right to offset the recognised amounts and there is an intention to settle on a net basis,
or to realise the assets and settle the liabilities simultaneously.
Impairment of financial assets
The Group assesses the carrying amount of a financial asset, at the balance sheet date. If there is objective
evidence that the financial asset is impaired, the Group makes provision for the impairment loss. Objective
evidence that a financial asset is impaired is evidence arising from one or more events that occurred after the
initial recognition of the asset and that event has an impact on the estimated future cash flows of the financial
asset which can be reliably estimated.
Financial assets carried at amortized cost
When the financial assets carried at amortized cost are impaired, the carrying amount of the financial asset shall
be reduced to the present value of the estimated future cash flow (excluding future credit losses that have not been
incurred). The amount of reduction is recognized as an impairment loss in the income statement. Present value of
estimated future cash flow is discounted at the financial asset’s original effective interest rate and includes the
value of any related collateral.
If a financial asset is individually significant, the Group assesses the asset individually for impairment, and
recognizes the amount of impairment in the income statement if there is objective evidence of impairment. For a
financial asset that is not individually significant, the Group can include the asset in a group of financial assets
with similar credit risk characteristics and collectively assess them for impairment. For financial assets that are not
impaired upon individual tests (including financial assets that are individually significant or insignificant),
impairment tests should be conducted on them again by including them in the group of financial assets. Assets for
which an impairment loss is individually recognized will not be included in a collective assessment of
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Chongqing Changan Automobile Company Limited Semi-annual Report 2015
impairment.
If, subsequent to the recognition of an impairment loss on a financial asset carried at amortized cost, there is
objective evidence of a recovery in value of the financial asset which can be related objectively to an event
occurring after the impairment was recognized, the previously recognized impairment loss is reversed and
recognized in the income statement. However, the reversal shall not result in a carrying amount of the financial
asset that exceeds what the amortized cost would have been had the impairment not been recognized at the date
the impairment is reversed.
Available-for-sale financial assets
When there is objective evidence that the asset is impaired, the cumulative loss from declines in fair value that had
been recognized directly in capital reserve are removed from equity and recognized in the income statement. The
amount of the cumulative loss that is removed from capital reserves and recognized in the income statement (net
of any principal repayment and amortization) and current fair value, less any impairment loss on that financial
asset previously recognized in the income statement.
In the case of equity investments classified as available for sale, objective evidence would include a significant or
prolonged decline in the fair value of an investment below its cost. The determination of what is “significant” or
''prolonged” requires judgement. “Significant” is evaluated against the original cost of the investment and
“prolonged” against the period in which the fair value has been below its original cost. Impairment losses on
equity instruments classified as available for sale are not reversed through the income statement. Increases in their
fair value after impairment are recognised directly in other comprehensive income.
The determination of what is “significant” or “prolonged” requires judgement. In making this judgement, the
Group evaluates, among other factors, the duration or extent to which the fair value of an investment is less than
its cost.
Financial assets carried at cost
If objective evidence shows that the financial assets carried at cost are impaired, the difference between the
present value discounted at the prevailing rate of return of similar financial assets and the book value of the
financial asset are provided as a provision and recognized in the current income statement. The impairment loss
recognized cannot be reversed.
Transfer of financial assets
If the Group transfers substantially all the risks and rewards of ownership of the financial asset, the Group
derecognizes the financial asset; and if the Group retains substantially all the risks and rewards of the financial
asset, the Group does not derecognize the financial asset.
If the Group neither transfers nor retains substantially all the risks and rewards of ownership of the financial asset,
the Group determines whether it has retained control of the financial asset. In this case: (i) if the Group has not
retained control, it derecognizes the financial asset and recognize separately as assets or liabilities any rights and
obligations created not retained in the transfer; (ii) if the Group has retained control, it continues to recognize the
financial asset to the extent of its continuing involvement in the transferred financial asset and recognizes an
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Chongqing Changan Automobile Company Limited Semi-annual Report 2015
associated liability.
10、Accounts receivable
(1) Accounts receivable which is individually significant and analyzed individually for provision：
Criterion for individually significant items Accounts receivable balance greater than RMB15 million due from
non-related parties
Method for provision A provision of the difference between recoverable amount and book
value is recognized based on individually analysis
(2) Accounts receivable analyzed by credit risk charactristics group for provision：
Criterion for group
Accounts receivable due from non-related parties other than individually
Group 1
significant items or insignificatntly but analyzed individually for provision
Group 2 Accounts receivable due from related parties
Method for the provision of group
Group 1 Making provision according to aging analysis
A provision of the difference between recoverable amount and book value is
Group 2
recognized based on individually analysis.
Group 1, the provision analyzed according to aging analysis:
Aging Accounts receivable Other receivables
Provision percentage (%) Provision percentage (%)
Within 1 year
Within 6 months 0 0
6 to 12 months 5 5
1 to 2 years 10 10
2 to 3 years 30 30
3 to 4 years 50 50
4 to 5 years 80 80
Above 5 years 100 100
(3) Accounts receivable which is individually insignificant but analyzed individually for provision
There is objective evidence that the accounts receivable due
Criterion for individually analysis for provision from non-related parties is impaired and the future recoverable
possibility is little.
Method for provision A provision of the difference between recoverable amount and
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Chongqing Changan Automobile Company Limited Semi-annual Report 2015
book value is recognized individually.
11、inventory
(1) Classification of inventory
Inventory includes raw materials, goods in transit, work in progress, finished goods, consigned processing
materials, low-value consumables and spare parts.
(2) Measurement of delivered inventory
Inventory is initially carried at the actual cost. Inventory costs comprise all costs of purchase, costs of conversion
and other costs incurred in bringing the inventory to its present location and condition.
Weighted average method is assigned to the determination of actual costs of inventories. One-off writing off
method is adopted in amortization of low-value consumables.
(3) Net realizable value of inventory and inventory provision
At the balance sheet date, the inventory is stated at the lower of cost and net realizable value. If the cost is higher
than the net realizable value, provision for the inventory should be made through profit or loss. If factors that
resulted in the provision for the inventory have disappeared and made the net realizable value higher than their
book value, the amount of the write-down should be reversed, to the extent of the amount of the provision for the
inventory, and the reversed amount should be recognized in the income statement for the current period.
Net realizable value is the estimated selling price in the ordinary course of business less the estimated costs of
completion and the estimated costs necessary to make the sale. The impairment provision should be made on a
basis of each item of inventories according to the difference between cost and net realizable value. For large
numbers of inventories at relatively low unit prices, the provision for loss on decline in value of inventories
should be made by category.
(4)Counting method of inventory
The Group applies a perpetual counting method of inventory.
12、Long-term equity investments include investments in subsidiaries, joint ventures and associates
The long-term investments are initially recorded at costs on acquisition. Long-term investments acquired from
business combination under common control shall be initially measured at the carrying value of the held interest
of the party being acquired; The difference between the initial meassued amounts and the book value of
consideration, adjust the capital reserves (if the capital reserve is insufficient to be offset, retained earnings should
be adjusted); Long-term investments acquired from business combination not under common control shall be
initially measured at the cost (or, the sum of the cost and the carrying value of the previously held equity interest
in the acquire for the business combination achieved by stages), which include the fair value of the consideration
paid, the liabilities beard and the fair value of issued equity instrument; the other comprehensive income produced
from the investment before the acquisition should be transferred into the current year investment income on
disposal. Long-term investments acquired not from business combination are initially measured at 1)the
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Chongqing Changan Automobile Company Limited Semi-annual Report 2015
consideration together with the cost necessary incurred; 2) the fair value of the equity instruments; and 3) the
consideration agreed in the investment agreement by the investors, otherwise the agreed consideration were not
fair.
The Company adopted cost method to account for long-term investments in the subsidiaries in the separate
financial statements of the Company. Control is the power to govern the financial and operating policies of an
entity so as to obtain benefits from its activities.
Under cost method, the long-term equity investment is valued at the cost of the initial investment. The cost of
long-term equity investment should be adjusted in case of additional investment or disinvestments. When cash
dividends or profits are declared by the invested enterprise is recognized as investment income in current period.
The equity method is applied to account for long-term equity investments, when the Group has jointly control, or
significant influence on the investee enterprise. Joint control is the contractually agreed sharing of control over an
economic activity, and exists only when the strategic financial and operating decisions relating to the activity
require the unanimous consent of the parties sharing control (the venturers). Significant influence is the power to
participate in the financial and operating policy decisions of an economic activity but is not control or joint control
over those policies.
Under equity method, when the initial investment cost of a long-term equity investment exceeds the investing
enterprise’s interest in the fair values of the investee’s identifiable net assets at the acquisition date, the difference
is accounted for as an initial cost. As to the initial investment cost is less than the investing enterprise’s interest in
the fair values of the investee’s identifiable net assets at the acquisition date, the difference shall be charged to the
income statement for the current period, and the cost of the long-term equity investment shall be adjusted
accordingly.
Under equity method, the Group recognizes its share of post-acquisition equity in the investee enterprise for the
current period as a gain or loss on investment, and also increases or decreases the carrying amount of the
investment. When recognizing its share in the net profit or loss of the investee entities, the Group should, based on
the fair values of the identifiable assets of the investee entity when the investment is acquired, in accordance with
the Group’s accounting policies and periods, after eliminating the portion of the profits or losses, arising from
internal transactions with joint ventures and associates, attributable to the investing entity according to the share
ratio (but losses arising from internal transactions that belong to losses on the impairment of assets, should be
recognized in full), recognize the net profit of the investee entity after making appropriate adjustments. The book
value of the investment is reduced to the extent that the Group’s share of the profit or cash dividend declared to be
distributed by the investee enterprise. However, the share of net loss is only recognized to the extent that the book
value of the investment is reduced to zero, except to the extent that the Group has incurred obligations to assume
additional losses. The Group shall adjust the carrying amount of the long-term equity investment for other changes
in owners’ equity of the investee enterprise (other than net profits or losses), and include the corresponding
adjustments in equity, which should be realized through profit or loss in subsequent settlement of the respective
long-term investment.
On settlement of a long-term equity investment, the difference between the proceeds actually received and the
carrying amount shall be recognized in the income statement for the current period. As to other comprehensive
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Chongqing Changan Automobile Company Limited Semi-annual Report 2015
income recognized based on measurement of the original equity investment by employing the equity method,
accounting treatment shall be made on the same basis as would be required if the invested entity had directly
disposed of the assets or liabilities related thereto when measurement by employing the equity method is
terminated. As to any change in owners' equity of the invested entity other than net profit or loss, other
comprehensive income and profit distribution, the investing party shall be transferred to the income statement for
the current period. If the remaining equities still be measured under the equity method, accumulative change
previously recorded in other comprehensive income shall be transferred to current profit or loss, in measurement
on the same basis as the invested entity had directly disposed of the assets or liabilities related thereto. The income
or loss recorded in the equity directly should been transferred to the current income statement on settlement of the
equity investment on the disposal proportion.
13、Investment property
Investment property are properties held to earn rentals or for capital appreciation, or both, including rented land
use right, land use right which is held and prepared for transfer after appreciation, and rented building.
The initial measurement of the investment property shall be measured at its actual cost. The follow-up expenses
pertinent to an investment property shall be included in the cost of the investment property, if the economic
benefits pertinent to this real estate are likely to flow into the enterprise, and, the cost of the investment property
can be reliably measured. Otherwise, they should be included in the current profits and losses upon occurrence.
The group adopts the cost method to make follow-up measurement to the investment property. The buildings are
depreciated under straight-line method.
14、Fixed asset
(1) Recognition of fixed assets
A fixed asset probably shall be recognized only when the economic benefits associated with the asset will flow to
the Group and the cost of the asset can be measured reliably. Subsequent expenditure incurred for a fixed asset
that meet the recognition criteria shall be included in the cost of the fixed asset, and the book value of the
component of the fixed asset that is replaced shall be derecognized. Otherwise, such expenditure shall be
recognized in the income statement in the period during which they are incurred.
Fixed assets are initially measured at actual cost on acquisition. The cost of a purchased fixed asset comprises the
purchase price, relevant taxes and any directly attributable expenditure for bringing the asset to working condition
for its intended use, such as delivery and handling costs, installation costs and other surcharges.
(2) Depreciation method of fixed assets
Fixed assets are depreciated on straight-line basis. The estimated useful lives, estimated residual values and annual
depreciation rates for each category of fixed assets are as follows:
Yearly deprecation rate
Category Deprecation period Residual rate (%)
(%)
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Chongqing Changan Automobile Company Limited Semi-annual Report 2015
Buildings 20 to 35 years 3% 2.77%-4.85%
Machinery (Note) 5 to 20 years 3% 4.85%-19.40%
Vehicles 4 to 12 years 3% 8.08%-24.25%
Others 3 to 21 years 3% 4.62%-32.33%
Note: the moulds in machinery should be depreciated in units-of-production method.
(3) Others
The Group reviews the useful life and estimated net residual value of a fixed asset and the depreciation method
applied at least at the end of each year and makes adjustments if necessary.
15、Construction in progress
The cost of construction in progress is determined according to the actual expenditure for the construction,
including all necessary construction expenditure incurred during the construction period, borrowing costs that
should be capitalized before the construction reaches the condition for intended use and other relevant expenses.
Construction in progress is transferred to fixed assets when the asset is ready for its intended use.
16、Borrowing costs
Borrowing costs are interest and other costs incurred by the Group in connection with the borrowing of the funds.
Borrowing costs include interest, amortization of discounts or premiums related to borrowings, ancillary costs
incurred in connection with the arrangement of borrowings, and exchange differences arising from foreign
currency borrowings.
The borrowing costs that are directly attributable to the acquisition, construction or production of a qualifying
asset are capitalized, otherwise the borrowing costs are expensed in the period during which they are incurred. A
qualifying asset is an asset (an item of property, plant and equipment and inventory etc.) that necessarily takes a
substantial period of time to get ready for its intended use of sale.
The capitalization of borrowing costs are as part of the cost of a qualifying asset shall commence when:
1) expenditure for the asset is being incurred;
2) borrowing costs are being incurred; and
3) activities that are necessary to prepare the asset for its intended use or sale are in progress.
Capitalization of borrowing costs shall be ceased when substantially all the activities necessary to prepare the
qualifying asset for its intended use or sale have been done. And subsequent borrowing costs are recognized in the
income statement.
During the capitalization period, the amount of interest to be capitalized for each accounting period shall be
determined as follows:
1) where funds are borrowed for a specific-purpose, the amount of interest to be capitalized is the actual
interest expense incurred on that borrowing for the period less any bank interest earned form depositing the
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Chongqing Changan Automobile Company Limited Semi-annual Report 2015
borrowed funds before being used on the asset or any investment income on the temporary investment of
those funds;
2) where funds are borrowed for a general-purpose, the amount of interest to be capitalized on such
borrowings is determined by applying a weighted average interest rate to the weighted average of the
excess amounts of cumulative expenditure on the asset over and above the amounts of specific-purpose
borrowings.
During the construction or manufacture of assets that are qualified for capitalization, if abnormal discontinuance,
other than procedures necessary for their reaching the expected useful conditions, happens, and the duration of the
discontinuance is over three months, the capitalization of the borrowing costs is suspended. Borrowing costs
incurred during the discontinuance are recognized as expense and charged to the income statement of the current
period, till the construction or manufacture of the assets resumes.
17、Intangible asset
An intangible asset probably shall be recognized only when the economic benefits associated with the asset will
flow to the Group and the cost of the asset can be measured reliably. Intangible assets are initially measured at
cost. The cost of intangible assets acquired in a business combination is the fair value as at the date of acquisition,
if the fair value can be reliably measured.
The useful life of the intangible assets shall be assessed according to the estimated beneficial period expected to
generate economic benefits. An intangible asset shall be regarded as having an indefinite useful life when there is
no foreseeable limit to the period over which the asset is expected to generate economic benefits for the Group.
The useful lives of the intangible assets are as follow:
Useful life
Land use right 22 to 50 years
Software 2 years
Trademark 10 years
Non-patent technology 5 years
Land use rights that are purchased or acquired through the payment of land use fees are accounted for as
intangible assets. With respect to self-developed properties, the corresponding land use right and buildings should
be recorded as intangible and fixed assets separately. As to the purchased properties, if the reasonable allocation of
outlays cannot be made between land and buildings, all assets purchased will be recorded as fixed assets. The cost
of a finite useful life intangible asset is amortized using the straight-line method during the estimated useful life.
For an intangible asset with a finite useful life, the Group reviews the estimated useful life and amortization
method at least at the end of each year and adjusts if necessary.
The Group should test an intangible asset with an indefinite useful life for impairment by comparing its
recoverable amount with its carrying amount annually, whenever there is an indication that the intangible asset
may be impaired. An intangible asset with an indefinite useful life shall not be amortized.
The useful life of an intangible asset that is not being amortised shall be reviewed each period to determine
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Chongqing Changan Automobile Company Limited Semi-annual Report 2015
whether events and circumstances continue to support an indefinite useful life assessment for that asset. If there
are indicators that the intangible asset has finite useful life, the accounting treatment would be in accordance with
the intangible asset with finite useful life.
18、Research and development expenditures
The Group classified the internal research and development expenditures as follows: research expenditures and
development cost.
The expenditures in research stage are charged to the current income on occurrence.
The expenditures in development stage are capitalized that should meet all the conditions of (a) it is technically
feasible to finish intangible assets for use or sale; (b) it is intended to finish and use or sell the intangible assets; (c)
the usefulness of methods for intangible assets to generate economic benefits shall be proved, including being able
to prove that there is a potential market for the products manufactured by applying the intangible assets or there is
a potential market for the intangible assets itself or the intangible assets will be used internally; (d) it is able to
finish the development of the intangible assets, and able to use or sell the intangible assets, with the support of
sufficient technologies, financial resources and other resources; and (e) the development expenditures of the
intangible assets can be reliably measured. Expenses incurred that don’t meet the above requirements
unanimously should be expensed in the income statement of the reporting period.
The Group discriminates between research and development stage with the condition that the project research has
been determined, in which the relevant research complete all the fractionalization of products measurements and
final product scheme under final approval of management. The expenditures incurred before project-determination
stage is charged to the current income, otherwise it is recorded as development cost.
19、Long-term deferred expenses
The long-term deferred expenses represent the payment for the improvement on buildings and other expenses,
which have been paid and should be deferred in the following years. Long-term deferred expenses are amortized
on the straight-line basis over the expected beneficial period and are presented at actual expenditure net of
accumulated amortization.
20、Contingent liabilities
Except contingent liability recognized in a business combination, the Group recognizes an contingent liability
when the obligation arising from a contingency meets the following conditions:
1) the obligation is a present obligation of the Group;
2) it is probable that an outflow of economic benefits from the Group will be required to settle the obligation;
3) a reliable estimate can be made of the amount of the obligation.
Contingent liabilities are initially measured according to the current best estimate for the expenditure necessary
for the performance of relevant present obligations, with comprehensive consideration given to factors such as the
risks, uncertainty and time value of money relating to contingencies. The book value of the contingent liabilities
should be reviewed at each balance sheet date. If there is objective evidence showing that the book value cannot
reflect the present best estimate, the book value should be adjusted according to the best estimate.
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Chongqing Changan Automobile Company Limited Semi-annual Report 2015
21、Revenue
Revenue is recognized only when an inflow of economic benefits is probable, the amount of which can be reliably
measured, and all of the following conditions are qualified.
Revenue from the sale of goods
The Group has transferred to the buyer the significant risks and rewards of ownership of the goods; the Group
retains neither continuing management involvement to the degree usually associated with ownership nor effective
control over the goods sold; and the amount of revenue can be measured reliably. The proceeds earned from sales
of goods are determined based on the amount received or receivable as stipulated in the contract or agreement,
otherwise the amount is not fair; If the amount received or receivable as stipulated in the contract or agreement is
collected in a defer method, it includes the financing elements and should be determined according to the fair
value of the amount received or receivable as stipulated in the contract or agreement.
Revenue from the rendering of services
When the outcome of a transaction involving the rendering of services can be estimated reliably at the balance
sheet date, revenue associated with the transaction is recognized using the percentage of completion method, or
otherwise, the revenue is recognized to the extent of costs incurred that are expected to be recoverable. The
outcome of a transaction involving rendering of services can be estimated reliably when all of the following
conditions are satisfied: the amount of revenue can be measured reliably; it is probable that the associated
economic benefits will flow into the Group; the stage of completion of the transaction can be measured reliably;
and the costs incurred and to be incurred for the transaction can be measured reliably. The Group determines the
stage of completion of a transaction involving the rendering of services by using the proportion of services
performed to date to the total services to be performed. The total amount of revenue earned from rendering service
are determined based on the amount received or receivable as stipulated in the contract or agreement, otherwise
the amount is not fair.
Interest income
It should be measured based on the length of time for which the Group’s cash is used by others and the applicable
effective interest rate.
Royalty income
Royalty income is recognized according to the agreed time and method by both parties in related contracts.
Rental income
Rental income from operating leases is recognized by the lesser in the income statement on a straight-line basis
over the lease term.
22、Government grants
A government grant is recognized only when there is reasonable assurance that the entity will comply with any
conditions attached to the grant and the grant will be received. Monetary grants are accounted for at received or
receivable amount. Non-monetary grants are accounted for at fair value. If there is no reliable fair value available,
the grants are accounted for at nominal amount.
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Chongqing Changan Automobile Company Limited Semi-annual Report 2015
A government grant which is specified by the government documents to be used to purchase and construct the
long-term assets shall be recognized as the government grant related to assets. A government grant which is not
specified by the government documents shall be judged based on the basic conditions to obtain the government
grant. The one whose basic condition was to purchase and construct the long-term assets shall be recognized as
the government grant related to assets.
The other government grant shall be recognized as the government grant related to gain. A grant relating to
income, which as compensation for future costs, is recognized as deferred income initially, and as income when
the related cost incurs. The grant as compensation for costs already incurred should be recognized as income for
the current period. A grant relating to assets is recognized as deferred income initially, and as income evenly
among the useful life of the related assets. The grant accounted for at nominal amount is recognized as income for
the current period.
23、Leases
A finance lease is a lease that transfers in substance all the risks and rewards incident to ownership of an asset. An
operating lease is a lease other than a finance lease.
The Group recording the operating lease as a lessee
Lease payments under an operating lease are recognized by a lessee on a straight-line basis over the lease term,
and either included in the cost of another related asset or charged to the income statement for the current period.
The Group recording the operating lease as a lessor
Rental income from operating leases is recognized by the lesser in the income statement on a straight-line
basis over the lease term.
24、Employee benefits
Employee benefits refer to all kinds of remunerations or compensation made by enterprises to their
employees in exchange for services provided by the employees or termination of labor relation. Employee
compensation includes short-term compensation and post-employment benefits. The benefits offered by
enterprises to the spouse, children, the dependants of the employee, the family member of deceased employee and
other beneficiaries are also employee compensation.
Short-term employee salaries
During the accounting period of employee rendering service, the actural employees salaries and are charged to the
statement of profit or loss as they become payable in balance sheet.
Post-employment benefits (Defined contribution plans)
The employees of the Group participate in pension insurance, which is managed by local government and the
relevant expenditure, is recognized, when incurred, in the costs of relevant assets or the profit and loss for the
current period.
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Chongqing Changan Automobile Company Limited Semi-annual Report 2015
Post-employment benefits (Defined benefit plan)
The Group operates a defined benefit pension plan which requires contributions to be made to a separately
administered fund. The benefits are unfunded. The cost of providing benefits under the defined benefit plan is
determined using the projected unit credit actuarial valuation method.
Remeasurements arising from defined benefit pension plans are recognised immediately in the consolidated
statement of financial position with a corresponding debit or credit to retained profits through other
comprehensive income in the period in which they occur. Remeasurements are not reclassified to profit or loss
in subsequent periods.
Past service costs are recognised in profit or loss at the earlier of: the date of the plan amendment or curtailment;
and the date that the Group recognises restructuring-related costs
Net interest is calculated by applying the discount rate to the net defined benefit liability or asset. The Group
recognises the following changes in the net defined benefit obligation under administrative expenses in the
consolidated statement of profit or loss by function: service costs comprising current service costs, past-service
costs, gains and losses on curtailments and non-routine settlements;net interest expense or income
Termination benefits
Termination benefits are recognised at the earlier of when the Group can no longer withdraw the offer of those
benefits and when the Group recognises restructuring costs involving the payment of termination benefits.
Other long-term employee benefits
Other long-term employee benefits provided to employee were recognized and measured as other long-term
employee benefits net liabilities or net assets according to relevant post-employement rules. While subsequent
variations are charged to the statement of profit or loss or the cost of relevant assets.
25、Income tax
Income tax comprises current and deferred tax. Income tax is recognized as an income or an expense and include
in the income statement for the current period, except to the extent that the tax arises from a business combination
or if it relates to a transaction or event which is recognized directly in equity.
Current income tax liabilities or assets for the current and prior periods, are measured at the amount expected to
be paid (or recovered) according to the requirements of tax laws.
For temporary differences at the balance sheet date between the tax bases of assets and liabilities and their
carrying amounts, and temporary differences between the carrying amounts and the tax bases of items, the tax
bases of which can be determined for tax purposes, but which have not been recognized as assets and liabilities,
deferred taxes are provided using the liability method.
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Chongqing Changan Automobile Company Limited Semi-annual Report 2015
A deferred tax liability is recognized for all taxable temporary differences, except:
(1) to the extent that the deferred tax liability arises from the initial recognition of goodwill or the initial
recognition of an asset or liability in a transaction which contains both of the following characteristics: the
transaction is not a business combination and at the time of the transaction, it affects neither the accounting
profit nor taxable profit or loss.
(2) in respect of taxable temporary differences associated with investments in subsidiaries, associates and
interests in jointly-controlled enterprises, where the timing of the reversal of the temporary differences can
be controlled and it is probable that the temporary differences will not reverse in the foreseeable future.
A deferred tax asset is recognized for deductible temporary differences, carry forward of unused tax credits and
unused tax losses, to the extent that it is probable that taxable profit will be available against which the deductible
temporary differences, and the carry forward of unused tax credits and unused tax losses can be utilized except:
(1) where the deferred tax asset relating to the deductible temporary differences arises from the initial
recognition of an asset or liability in a transaction that is not a business combination and, at the time of the
transaction, affects neither the accounting profit nor taxable profit or loss; and
(2) in respect of deductible temporary differences associated with investments in subsidiaries, associates and
interests in joint ventures, deferred tax assets are only recognized to the extent that it is probable that the
temporary differences will reverse in the foreseeable future and taxable profit will be available against
which the temporary differences can be utilized.
At the balance sheet date, deferred tax assets and liabilities are measured at the tax rates that are expected to
apply to the period when the asset is realized or the liability is settled, according to the requirements of tax laws.
The measurement of deferred tax assets and deferred tax liabilities reflects the tax consequences that would follow
from the manner in which the Group expects at the balance sheet date, to recover the assets or settle the liabilities.
At the balance sheet date, the Group reviews the book value of deferred tax assets. If it is probable that sufficient
taxable income cannot be generated to use the tax benefits of deferred tax assets, the book value of deferred tax
assets should be reduced. When it is probable that sufficient taxable income can be generated, the amount of such
reduction should be reversed. When it is probable that sufficient taxable income can be generated, the amount of
such reduction should be reversed.
26、Impairment of assets
The Group determines the impairment of assets, other than the impairment of inventory, deferred income taxes,
and financial assets, using the following methods:
The Group assesses at the balance sheet date whether there is any indication that an asset may be impaired. If any
indication exists that an asset may be impaired, the Group estimates the recoverable amount of the asset and
performs impairment tests. Goodwill arising from a business combination and an intangible asset with an
indefinite useful life are tested for impairment at least at the end of every year, irrespective of whether there is any
indication that the asset may be impaired. An intangible asset which is not ready for its intended use is tested for
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Chongqing Changan Automobile Company Limited Semi-annual Report 2015
impairment at least at the end of every year.
The recoverable amount of an asset is the higher of its fair value less costs to sell and the present value of the
future cash flow expected to be derived from the asset. The Group estimates the recoverable amount on an
individual basis. If it is not possible to estimate the recoverable amount of the individual asset, the Group
determines the recoverable amount of the asset group to which the asset belongs. Identification of an asset group
is based on whether major cash flows generated by the asset group are independent of the cash flows from other
assets or asset groups.
When the recoverable amount of an asset or asset group is less than its carrying amount, the carrying amount is
reduced to the recoverable amount. The impairment of asset is provided for and the impairment loss is recognized
in the income statement for the current period.
For the purpose of impairment testing, the carrying amount of goodwill acquired in a business combination is
allocated, on a reasonable basis, to related asset groups; if it is impossible to allocate to the related asset groups, it
is allocated to each of the related sets of asset groups. Each of the related asset groups or related sets of asset
groups is a group or set of asset group that is able to benefit from the synergies of the business combination and
shall not be larger than a reportable segment determined by the Group.
When an impairment test is conducted on an asset group or a set of asset groups that contains goodwill, if there is
any indication of impairment, the Group firstly tests the asset group or the set of asset groups excluding the
amount of goodwill allocated for impairment, i.e., it determines and compares the recoverable amount with the
related carrying amount and then recognize impairment loss if any. Thereafter, the Group tests the asset group or
set of asset groups including goodwill for impairment, the carrying amount (including the portion of the carrying
amount of goodwill allocated) of the related asset group or set of asset groups is compared to its recoverable
amount. If the carrying amount of the asset group or set of asset groups is higher than its recoverable amount, the
amount of the impairment loss is firstly eliminated by and amortized to the book value of the goodwill included in
the asset group or set of asset groups, and then eliminated by the book value of other assets according to the
proportion of the book values of assets other than the goodwill in the asset group or set of asset groups.
Once the above impairment loss is recognized, it cannot be reversed in subsequent periods.
27、Profit distribution
The cash dividend of the Group is recognized as liabilities after the approval of general meeting of stockholders.
28、Safety fund
The safety fund extracted by the Group shall be recognized as the cost of the related products or income statement,
while be recognized as special reserve. When using safety fund, it shall be distinguished whether it will form fixed
assets or not. The expenditure shall write down the special reserve; the capital expenditure shall be recognized as
fixed assets when meet the expected conditions for use, and write down the special reserve while recognizing
accumulated depreciation with the same amount
29、Fair value measurement
The Group measures its equity investments at fair value at the end of each reporting period. Fair value is the
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Chongqing Changan Automobile Company Limited Semi-annual Report 2015
price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market
participants at the measurement date. The fair value measurement is based on the presumption that the
transaction to sell the asset or transfer the liability takes place either in the principal market for the asset or
liability, or in the absence of a principal market, in the most advantageous market for the asset or liability. The
principal or the most advantageous market must be accessible by the Group. The fair value of an asset or a
liability is measured using the assumptions that market participants would use when pricing the asset or liability,
assuming that market participants act in their economic best interest.
A fair value measurement of a non-financial asset takes into account a market participant’s ability to generate
economic benefits by using the asset in its highest and best use or by selling it to another market participant that
would use the asset in its highest and best use. The Group uses valuation techniques that are appropriate in the
circumstances and for which sufficient data are available to measure fair value, maximising the use of relevant
observable inputs and minimising the use of unobservable inputs.
All assets and liabilities for which fair value is measured or disclosed in the financial statements are categorised
within the fair value hierarchy, described as follows, based on the lowest level input that is significant to the fair
value measurement as a whole: Level 1 – based on quoted prices (unadjusted) in active markets for identical
assets or liabilities; Level 2 – based on valuation techniques for which the lowest level input that is significant to
the fair value measurement is observable, either directly or indirectly; Level 3 – based on valuation techniques for
which the lowest level input that is significant to the fair value measurement is unobservable
For assets and liabilities that are recognised in the financial statements on a recurring basis, the Group determines
whether transfers have occurred between levels in the hierarchy by reassessing categorisation (based on the lowest
level input that is significant to the fair value measurement as a whole) at the end of each reporting period.
30、Significant accounting judgments and estimates
The preparation of financial statements requires management to make judgments, estimates and assumptions that
affect the amounts and disclosures of revenues, expenses, assets and liabilities, and the disclosure of contingent
liabilities, at the balance sheet date. However, uncertainty about these assumptions and estimates could result in
outcomes that could require a material adjustment to the carrying amounts of the assets or liabilities affected in the
future.
Judgments
In the process of applying the Group’s accounting policies, management has made the following judgments which
have significant effect on the financial statements:
Operating leases - as lessor
The Group has entered into commercial property leases on its investment property portfolio. The Group has
determined, based on an evaluation of the terms and conditions of the arrangements, that it retains all the
significant risks and rewards of ownership of these properties which are leased out on operating leases.
Uncertainty of accounting estimates
The crucial assumptions of significant accounting estimates in future and other crucial sources of estimated
uncertainty, which may result in the significant adjustments to the book value of the subsequent accounting period,
are as the following:
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Chongqing Changan Automobile Company Limited Semi-annual Report 2015
Impairment of available-for-sale
The Group classifies certain assets as available for sale and recognises movements of their fair values in equity.
When the fair value declines, management makes assumptions about the decline in value to determine whether
there is an impairment that should be recognized in the income statement.
Impairment of non-current assets other than financial assets (goodwill excluded)
The Group assesses at each reporting date whether there is an indication that non-current assets other than
financial assets may be impaired. If there is any sign of possible assets impairment, the assets concerned should be
subject to impairment test. When the carrying amount of an asset or the relevant assets group exceeds its
recoverable amount which is the higher one of the net amount of the fair value of the asset minus the disposal
expenses and the present value of the expected future cash flow of the asset, the asset is considered impaired. The
fair value minus the disposal expenses is determined by reference to the recent market transactions price or
observed market price less any directly attributable expenditure for disposing. When making an estimate of the
present value of the future cash flow of an asset, the Group should estimate the future cash flows of the asset or
the relevant assets group, with the appropriate discount rate selected to reflect the present value of the future cash
flows.
Bad debt provisions
Provisions are made under the allowance method. For each individually significant receivable, the impairment test
should be conducted individually. Where there is evidence that indicates impairment, the loss should be
recognized with the respective provision accrued, equaling to the difference between the present value of the
future cash flows and the book value of receivables. For other receivables concerned, management should accrue
the general provisions, along with the receivables individually tested while no impairment incurred, taking in
account the collectability.
Inventory impairment based on the net realizable value
According to accounting policy, inventories shall be measured at the lower of cost and the net realizable value.
Provision for inventories is recognized in the income statement when the cost is higher than the net realizable
value and when the inventories are obsolete and slow-moving. The Group will reassess whether a single inventory
is obsolete, slow-moving or whether the net realizable value is lower than the inventories’ cost at end of each year.
Development expenditures
When determining the capitalization amount, management should make assumptions such as the expected cash
flows of the assets related, the applicable discount rate and expected benefit period.
Deferred tax assets
The Group should recognize the deferred income tax assets arising from all the existing unutilized tax deficits and
deductible temporary differences to the extent of the amount of the taxable income which it is most likely to
obtain and which can be deducted from the deductible temporary differences. Enormous accounting judgments, as
well as the tax planning are compulsory for management to estimate the time and amount of prospective taxable
profits and thus determine the appropriate amount of the deferred tax assets concerned.
Warranty
The Group provides warranties on automobile and undertakes to repair or replace items that fail to perform
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Chongqing Changan Automobile Company Limited Semi-annual Report 2015
satisfactorily based on certain pre-determined conditions. Management estimates the related warranty claims
based on historical warranty claim information including level of repairs and returns as well as recent trends that
might suggest that past cost information may differ from future claims. Factors that could impact the estimated
claim information include the success of the Group’s quality controls, as well as parts and labour costs. Any
increase or decrease in the provision would affect profit or loss in future years.
Depreciation and amortization
The Group’s management determines the estimated useful lives and residual value of fixed assets and intangible
assets. This estimate is based on the historical experience of actual useful lives of fixed assets and intangible
assets of similar nature and functions. Management will increase the depreciation and amortization charges where
useful lives are less than previously estimated.
31、The change of major accounting policies and estimates
During the reporting period, the change of accounting policy and estimates occured
□ Yes √ No
（1）the change of accounting policy
During the reporting period, the change of major accounting policy occured
□ Yes √ No
（2）the change of accounting estimates
During the reporting period, the change of major accounting estimates occured
□ Yes √ No
VI、Taxes
1、The major categories of taxes and surcharges
Categories of taxes and surcharges Basis of tax Tax rate
Levy on the taxable sales and rendering of services,
Value added tax (“VAT”) 6% or 17%
deducted the deductible input VAT.
Consumption tax Taxable sales 1%,3% or5%
Business tax Taxable sales 5%
City maintenance and construction tax The turnover taxes paid 5% or7%
Educational surcharge The turnover taxes paid 3%
Local educational surcharge The turnover taxes paid 2%
Corporate income tax Taxable income 15% or25%
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Chongqing Changan Automobile Company Limited Semi-annual Report 2015
2、Tax benefits
In accordance to Circular for Further Implementation of Tax Incentives In the Development of Western Regions (Cai Shui [2011] No.
58) collectively issued by the ministry of Finance, the Customs General Administration and the National Taxation Bureau of PRC,
from 1 January 2011 to 31 December 2020, enterprises located in the Western Region and engaged in encouraged business would be
entitled to a preferential CIT rate of 15%. The above-mentioned enterprises encouraged industries shall satisfy two criteria of
enterprises whose principal business are in accordance with Catalogue of Encouraged Industries in the Western Region, and the
revenue should account for more than 70% of the total revenue. According to the Catalogue of Encouraged Industries in Western
Region issued on 20 August 2014 by the National Development and Reform Commission, the business operations of the Company
and Chongqing Changan Special Automobile Co., Ltd. (the “Changan Special Sales”) fall within the the encouraged industries listed
in the catalogue of encouraged industries in the western region of China, and majority of the revenue are from the industries listed in
the catalogue, which reaches the requirement to enjoy the preferential CIT rate. At present, the Company and Changan Special Sales
are filing to enjoy the preferential CIT to in-charge tax authority, and the CIT of the Company and Changan Special Sales were
currently accrued at the rate of 15% in 2014 with permission of the in-charge tax authority.
As at 4 November 2011, in accordance to Circular of the Administrative Measures for the Certification of New and High Technology
Enterprises (Guo Ke Fa Huo [2008] No. 172) and Circular of the Working Guidance on the Recognition of Hi-tech Enterprises (Guo
Ke Fa Huo [2008] No. 362), the subsidiaries, Hebei Baoding Changan Bus Co., Ltd. and Hebei Changan Automobile Co., Ltd. were
recognized as Hi-tech enterprises, effective for three years from recognition date. In accordance to Circular of the State
Administration of Taxation on Issues Concerning the Administration Of Reduction or Exemption of Enterprise Income Tax (Guo
Shui Fa [2008] No. 111), the enterprises with hi-tech certification would be entitled to a tax preference of 15%. For the year ended 31
December 2014, the enterprise income tax of Hebei Baoding Changan Bus Co., Ltd. and Hebei Changan Automobile Co., Ltd. were
accrued at the rate of 15%.
VII、Notes to the consolidated financial statements
1、Cash and cash equivalents
单位： 元
Item 2015.6.30 2014.12.31
Cash 49,581.96 29,174.13
Cash at bank 13,344,857,671.81 9,362,824,743.58
Other cash 299,186,473.41 330,229,580.07
Total 13,644,093,727.18 9,693,083,497.78
As at 30 June 2015, the book value of restricted cash and cash equivalents is RMB299,186,473.41, which was mainly
restricted for the issuance of acceptance bill.
As at 30 June 2015,the cash at bank oversea is equivalent to RMB 43,074,809.88.
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Chongqing Changan Automobile Company Limited Semi-annual Report 2015
2、Notes receivable
（1）Classification of notes receivable
Type Ending Beginning
Commercial acceptance bill 5,895,636,551.00 6,181,968,926.50
Bank acceptance bill 11,730,512,767.14 11,598,192,736.44
Total 17,626,149,318.14 17,780,161,662.94
（2）Endorsed or discounted but unexpired notes receivable as at the end of reporting period are as follow:
Ending Beginning
Type
Derecognition Un-derecognition Derecognition Un-derecognition
Commercial acceptance bill 20,002,080.00 - 148,639,535.00 -
Bank acceptance bill 4,875,983,598.60 - 6,471,261,656.66 -
Total 4,895,985,678.60 - 6,619,901,191.66 -
3、Accounts receivable
(1) An analysis of the accounts receivable by category as at the end of the reporting period is as follows:
Ending Beginning
Item Balance Provision Balance Provision
Amount % Amount % Amount % Amount %
Individually
significant items
and analyzed 196,828,963.58 23.97 1,142,000.00 0.58 87,504,274.30 10.60 - -
individually for
provision
Accounts receivable analyzed as groups for provision
Group 1. Accounts
receivable
analyzed for
411,703,037.23 50.13 55,649,526.11 13.42 592,279,016.92 71.72 56,639,615.25 9.56
provision
according to aging
analysis
Group 2. Accounts
receivable from 202,375,366.63 24.64 - - 135,732,514.85 16.44 - -
related parties
Group subtotal 614,078,403.86 74.77 55,649,526.11 9.06 728,011,531.77 88.16 56,639,615.25 7.78
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Chongqing Changan Automobile Company Limited Semi-annual Report 2015
Individually
insignificant items
but analyzed 10,318,554.25 1.26 10,318,554.25 100 10,282,156.06 1.25 10,282,156.06 100
individually for
provision
Total 821,225,921.69 -- 67,110,080.36 -- 825,797,962.13 -- 66,921,771.31 --
Within groups, accounts receivable analyzed for provision according to aging analysis:
Ending Beginning
Aging Balance Balance
Provision Provision
Amount % Amount %
Within 6 months 210,572,797.43 50.76 - 346,507,993.68 58.50 -
6 to 12 months 143,402,563.60 34.57 7,170,128.18 183,980,746.33 31.06 9,199,037.32
Within 1 year
530,488,740.01 89.57 9,199,037.32
subtotal 353,975,361.03 85.33 7,170,128.18
1 to 2 years 4,863,884.00 1.17 486,388.40 6,452,222.91 1.09 645,222.29
2 to 3 years 7,959,950.00 1.92 2,387,985.00 5,109,766.77 0.86 1,532,930.03
3 to 4 years 1,350,750.00 0.33 675,375.00 5,392,000.00 0.91 2,696,000.00
4 to 5 years 8,707,407.55 2.10 6,965,926.04 11,349,308.11 1.92 9,079,446.49
Over 5 years 37,963,723.49 9.15 37,963,723.49 33,486,979.12 5.65 33,486,979.12
Total 414,821,076.07 -- 55,649,526.11 592,279,016.92 -- 56,639,615.25
(2) In June 30, 2015, provision for impairment of accounts receivable amounting to RMB275,488.49 has been accrued.
Provision for impairment of accounts receivable amounting to RMB87,179.44 has been reversed.
(3) As at 30 June 2015, there are no provisions written off.
(4) As at 30 June 2015, top five debtors of accounts receivable are as follows:
Proportion of total accounts
Debtors Ending balance Provision
receivable (%)
First 91,983,421.90 12.20% -
Second 72,976,819.22 9.68% -
Third 59,457,096.57 7.88% -
Fourth 35,350,284.89 4.69% -
Fifth 25,044,015.00 3.32% -
Total 284,811,637.58 37.77% -
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Chongqing Changan Automobile Company Limited Semi-annual Report 2015
4、Other receivables
(1) An analysis of the other receivables by category as at the end of reporting period is as follows
Ending Beginning
Item Balance Provision Balance Provision
Amount % Amount % Amount % Amount %
Individually significant
items and analyzed 270,136,000. 123,832,000.
58.54 46.76
individually for 00 00
provision
Other receivables analyzed as groups for provision
Other receivables
analyzed for provision 188,871,514. 138,925,510.
40.93 2,650,027.69 1.40 52.46 2,481,267.13 1.79
according to aging 74 22
analysis
Group subtotal 548,419.28 0.12 181,042.41 0.07
individually insignificant
items but analyzed 189,419,934. 139,106,552.
41.05 2,650,027.69 1.40 52.53 2,481,267.13 1.78
individually for 02 63
provision
Total 1,889,213.22 0.41 1,889,213.22 100.00 1,889,213.22 0.71 1,889,213.22 100
Within groups, other receivables analyzed for provision according to aging analysis
Ending Beginning
Aging Balance Balance
Provision Provision
Amount % Amount %
Within 1 year
Within 6 months 181,005,134.51 95.56 - 133,122,029.36 95.82 -
6 to 12 months 3,852,797.17 2.03 192,639.86 370,404.77 0.27 18,520.23
Within 1 year subtotal 184,857,931.68 97.59 192,639.86 133,492,434.13 96.09 18,520.23
1 to 2 years 959,678.69 0.51 95,967.87 1,876,797.77 1.35 187,679.78
2 to 3 years 1,512,910.84 0.80 453,873.25 1,407,927.71 1.01 422,378.31
3 to 4 years 42,953.00 0.02 21,476.50 372,323.61 0.27 186,161.81
4 to 5 years 801,948.01 0.42 641,558.41 547,500.00 0.39 438,000.00
Over 5 years 1,244,511.80 0.66 1,244,511.80 1,228,527.00 0.88 1,228,527.00
Total 189,419,934.02 -- 2,650,027.69 138,925,510.22 -- 2,481,267.13
As at 30 June 2015, there are no individually significant items analyzed individually for provision.
(2) For the year ended 30 June 2015, provision for impairment of other receivables amounted to RMB 168,760.56 has been
accrued. For the year ended 30 June 2015, provision for impairment of other receivables amounted to RMB 0 has been reversed.
(3) For the year ended 30 June 2015, provision for impairment of other receivables amounted to 0.
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Chongqing Changan Automobile Company Limited Semi-annual Report 2015
(4) As at 30 June 2015, top five debtors of other receivables are as follows:
Proportion of total
Debtors Ending balance accounts receivable Provision
(%)
First 270,136,000.00 Within 6 months 59.12%
Second 9,120,000.00 Within 6 months 2.00%
Third 8,032,400.87 Within 6 months 1.76%
Fourth 4,000,000.00 Within 6 months 0.88%
Fifth 3,187,556.73 Within 6 months 0.70%
Total 294,475,957.60 - 64.45%
5、Prepayments
An aged analysis of the prepayments is as follows:
Ending Beginning
Aging
Amount Percentage (%) Amount Percentage (%)
Within 1 year 823,790,901.83 98.00 823,600,044.91 98.08
1 to 2 years 16,240,752.99 1.93 12,594,729.34 1.50
2 to 3 years - - 3,511,694.49 0.42
Over 3 years 534,931.90 0.06 46,082.72 0.01
Total 840,566,586.72 -- 839,752,551.46 --
As at 30 June 2015, top five debtors of other receivables are as follows:
Proportion of total
Debtors Ending balance accounts receivable Provision
(%)
Prepaymemt for steel and goods
First 221,215,624.75 Within 1 year
not received yet
Prepaymemt for steel and goods
Second 165,038,577.42 Within 1 year
not received yet
Prepaymemt for steel and goods
Third 132,616,667.69 Within 1 year
not received yet
Prepaymemt for steel and
Fourth 132,238,629.60 Within 1 year wrting off procedures not
finished yet
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Chongqing Changan Automobile Company Limited Semi-annual Report 2015
Prepaymemt for steel and
Fifth 53,689,104.26 Within 1-2 year wrting off procedures not
finished yet
Total 704,798,603.72 -- --
6、Inventory
（1） Classification of inventory
Ending Beginning
Item
Balance Provision Net value Balance Provision Net value
Raw materials 325,860,369.62 41,818,846.78 284,041,522.84 479,605,856.33 43,047,494.14 436,558,362.19
Work in progress 36,636,327.08 - 36,636,327.08 48,741,864.29 - 48,741,864.29
Commodity stock 470,264,796.30 16,037,267.47 454,227,528.83 666,159,202.60 72,883,429.99 593,275,772.61
revolving material 6,730,892,960.00 115,232,527.81 6,615,660,432.19 5,378,816,735.63 38,664,885.02 5,340,151,850.61
consumptive
- - - 2,157,864.35 - 2,157,864.35
biological assets
Material in transit 146,934,318.61 - 146,934,318.61 151,297,690.45 - 151,297,690.45
Spare parts - - - 3,077.01 - 3,077.01
Total 7,710,588,771.61 173,088,642.06 7,537,500,129.55 6,726,782,290.66 154,595,809.15 6,572,186,481.51
（2）Provision for inventory
Type Beginning Provision Deduction Ending
Reversal Write-off
Raw materials 43,047,494.14 11,078,839.22 5,693,979.70 6,613,506.88 41,818,846.78
Work in progress 72,883,429.99 - 32,387,553.75 24,458,608.77 16,037,267.47
Commodity stock 38,664,885.02 110,454,168.24 3,403,912.09 30,482,613.36 115,232,527.81
Total 154,595,809.15 121,533,007.46 41,485,445.54 61,554,729.01 173,088,642.06
7、Other current assets
Item Ending Beginning
Accrual input tax - 2,835,337.83
Others 2,757,575.24 534,882.00
Total 2,757,575.24 3,370,219.83
8、Available-for-sale financial assets
Item Ending Beginning
Available-for-sale equity securites 348,787,500.00 395,647,500.00
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Chongqing Changan Automobile Company Limited Semi-annual Report 2015
Other 148,809,274.00 148,809,274.00
Total 497,596,774.00 544,456,774.00
The available-for-sale equity securites are the 17.75 million shares of Southwest Securities Co., Ltd and 2.6588million shares of
HuaXia Bank holding by the Group.
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Chongqing Changan Automobile Company Limited Semi-annual Report 2015
9、Long-term equity investment
Explanation for
the difference
between
Shareholdi shareholding
ng Voting percentage and
Accounting Addition/ percentage percentage voting Impair Current Current cash
Investee method Initial amount Beginning (deduction) Ending (%) (%) percentage ment provision dividends
Joint ventures
Chongqing Changan Suzuki
237,719,933.33 1,408,273,674.47 -25,628,626.69 1,382,645,047.78 50.00% 50.00% N/A
Automobile Co., Ltd
Jiangling Holding Co., Ltd 1,008,511,522.00 2,334,057,207.68 181,388,135.45 2,515,445,343.13 50.00% 50.00% N/A
Changan Ford Automobile Co.,
Ltd （former name: Changan
975,232,926.29 4,617,363,993.97 923,128,890.36 5,540,492,884.33 50.00% 50.00% N/A 3,450,000,000.00
Ford Mazda Automobile Co.,
Ltd）
Changan Mazda Automobile
1,097,839,635.00 1,672,590,730.82 414,989,302.22 2,087,580,033.04 50.00% 50.00% N/A
Co., Ltd
Changan Ford Mazda Engine
786,734,634.10 720,178,224.15 80,216,151.05 800,394,375.20 50.00% 50.00% N/A
Co., Ltd
Changan PSA Automobiles Co.,
2,007,841,700.00 1,795,746,892.81 -117,857,515.40 1,677,889,377.41 50.00% 50.00% N/A
Ltd，a JV of the Company
Associates
Chongqing Xiyi Automobile
7,600,027.62 9,220,184.59 -392,641.56 8,827,543.03 40.00% 40.00% N/A
Linkage Rod Co., Ltd
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Chongqing Changan Automobile Company Limited Semi-annual Report 2015
Chongqing Changan Kuayue
61,800,885.00 66,558,691.97 4,886,884.01 71,445,575.98 34.30% 34.30% N/A
Automobile Co., Ltd
Chongqing Changan Kuayue
1.00 - - 34.30% 34.30% N/A
Automobile Sales Co., Ltd
Beijing Fangan Taxi LLC 6,000,000.00 - - 42.25% 42.25% N/A
Total -- 6,189,281,264.34 12,623,989,600.46 1,460,730,579.44 14,084,720,179.90 - - -- 3,450,000,000.00
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Chongqing Changan Automobile Company Limited Semi-annual Report 2015
10、Investment property
According to the cost of the investment real estate
Item Beginning Addition Deduction Ending
I. Original cost 11,819,701.24 35,000.00 - 11,854,701.24
Buildings 11,819,701.24 35,000.00 - 11,854,701.24
II. Accumulated depreciation and
2,359,556.20 165,126.48 - 2,524,682.68
amortization
Buildings 2,359,556.20 165,126.48 - 2,524,682.68
III. Net Value 9,460,145.04 -130,126.48 - 9,330,018.56
Buildings 9,460,145.04 -130,126.48 - 9,330,018.56
IV. Impairment Provision 9,460,145.04 -130,126.48 - 9,330,018.56
Buildings 9,460,145.04 -130,126.48 - 9,330,018.56
11、Fixed assets
Item Beginning Addition Deduction Ending
I. Original cost 22,037,210,877.88 115,525,588.84 15,404,042.85 22,137,332,423.87
Buildings 5,720,929,022.47 31,269,738.86 6,971,246.43 5,745,227,514.90
Machinery 12,456,413,124.25 54,581,882.65 7,130,825.27 12,503,864,181.63
Vehicles 105,085,124.78 4,969,014.47 1,136,064.93 108,918,074.32
Other Equipments 3,754,783,606.38 24,704,952.86 165,906.22 3,779,322,653.02
-- Beginning Addition Deduction Ending
II. Accumulated
6,875,102,981.09 808,940,347.42 35,703,842.63 7,648,339,485.88
depreciation
Buildings 869,651,467.05 117,841,235.23 1,770,684.24 985,722,018.04
Machinery 4,499,116,329.67 587,851,966.86 33,365,295.77 5,053,603,000.76
Vehicles 43,232,776.35 6,207,612.53 542,863.82 48,897,525.06
Other Equipments 1,463,102,408.02 97,039,532.80 24,998.80 1,560,116,942.02
-- Beginning -- Ending
III. Net Value 15,162,107,896.79 -- 14,488,992,937.99
Buildings 4,851,277,555.42 -- 4,759,505,496.86
Machinery 7,957,296,794.58 -- 7,450,261,180.87
Vehicles 61,852,348.43 -- 60,020,549.26
Other Equipments 2,291,681,198.36 -- 2,219,205,711.00
IV. Impairment Provision 596,528,100.41 -- 642,241,294.42
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Chongqing Changan Automobile Company Limited Semi-annual Report 2015
Buildings 4,998,917.25 -- 4,998,917.25
Machinery 546,083,399.27 -- 585,912,872.34
Vehicles 111,955.65 -- 157,670.93
Other Equipments 45,333,828.24 -- 51,171,833.90
V. Book Value 14,565,579,796.38 -- 13,846,751,643.57
Buildings 4,846,278,638.17 -- 4,754,506,579.61
Machinery 7,411,213,395.31 -- 6,864,348,308.53
Vehicles 61,740,392.78 -- 59,862,878.33
Other Equipments 2,246,347,370.12 -- 2,168,033,877.10
This 808,940,347.42 yuan depreciation; This period by the construction project to fixed asset price is 112,527,031.66 yuan
12、Construction in progress
Details of construction in progress
closing balance openning balance
Item
Balance Provision Book value Balance Provision Book value
Mini-bus production
100,616,230.67 - 100,616,230.67 51,532,611.69 - 51,532,611.69
equipment
Yuzui motor city project 237,161,482.55 - 237,161,482.55 56,137,499.36 - 56,137,499.36
Sedan production equipment 157,433,356.83 - 157,433,356.83 21,154,399.12 - 21,154,399.12
Engine production 549,666,860.01 - 549,666,860.01 390,640,806.71 - 390,640,806.71
Vehicle research institution 41,531,939.61 - 41,531,939.61 27,883,151.96 - 27,883,151.96
Car moulds 257,116,926.91 - 257,116,926.91 264,739,352.30 - 264,739,352.30
Hebei M201 bus production
42,418,213.90 - 42,418,213.90 29,974,950.86 - 29,974,950.86
plant project
Hebei Bao Ke light vehicle
14,620,871.33 - 14,620,871.33 76,854.40 - 76,854.40
project
Plant for vehicle test project 399,693,020.85 - 399,693,020.85 232,656,244.67 - 232,656,244.67
Beijing vehicle construction 10,458,678.
10,458,678.57 - 10,458,678.57 10,458,678.57 -
project 57
Hefei one hundred thousand
car production line 37,212,453.59 - 37,212,453.59 24,147,569.91 - 24,147,569.91
construction
Hefei Changan M302 project 23,801,132.30 - 23,801,132.30 20,399,257.73 - 20,399,257.73
Hefei A101, CX20 switching
49,563,526.08 - 49,563,526.08 15,630,398.56 - 15,630,398.56
project
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Chongqing Changan Automobile Company Limited Semi-annual Report 2015
Others 98,503,824.71 - 98,503,824.71 139,023,867.97 - 139,023,867.97
10,458,678. 2,009,339,839.3 1,284,455,643.8 1,273,996,965.
Total 2,019,798,517.91 10,458,678.57
57 4 1 24
13、Construction materials
Item Beginning Addition Deduction Ending
Specific materials 96,690.75 96,690.75
Total 96,690.75 96,690.75
14、liquidation of fixed assets
Item Beginning Ending
machinery equipment 4,756.69 4,756.69
office equipment 7,655.84 7,655.84
Total 12,412.53 12,412.53
15、Intangible assets
（1）Details of intangible assets
Item Beginning Addition Deduction Ending
I. Original cost 4,292,282,334.11 298,614,496.95 - 4,590,896,831.06
Land use rights 1,911,997,610.93 225,764,753.00 - 2,137,762,363.93
Software use rights 312,758,164.35 23,444,807.12 - 336,202,971.47
Trademark use rights 211,784,400.00 28,500,430.80 - 240,284,830.80
Non-patent technology 1,855,742,158.83 20,904,506.03 - 1,876,646,664.86
II. Accumulated amortization 1,315,820,643.36 210,709,257.41 - 1,526,529,900.77
Land use rights 145,348,478.79 21,168,003.77 - 166,516,482.56
Software use rights 245,424,542.70 32,539,128.58 - 277,963,671.28
Trademark use rights 99,923,437.58 16,791,206.56 - 116,714,644.14
Non-patent technology 825,124,184.29 140,210,918.50 - 965,335,102.79
III. Net Value 2,976,461,690.75 87,905,239.54 - 3,064,366,930.29
Land use rights 1,766,649,132.14 204,596,749.23 - 1,971,245,881.37
Software use rights 67,333,621.65 -9,094,321.46 - 58,239,300.19
Trademark use rights 111,860,962.42 11,709,224.24 - 123,570,186.66
Non-patent technology 1,030,617,974.54 -119,306,412.47 - 911,311,562.07
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Chongqing Changan Automobile Company Limited Semi-annual Report 2015
IV. Impairment Provision 97,496,465.60 - - 97,496,465.60
Land use rights - - - -
Software use rights - - - -
Trademark use rights - - - -
Non-patent technology 97,496,465.60 - - 97,496,465.60
V. Book Value 2,878,965,225.15 87,905,239.54 - 2,966,870,464.69
Land use rights 1,766,649,132.14 204,596,749.23 - 1,971,245,881.37
Software use rights 67,333,621.65 -9,094,321.46 - 58,239,300.19
Trademark use rights 111,860,962.42 11,709,224.24 - 123,570,186.66
Non-patent technology 933,121,508.94 -119,306,412.47 - 813,815,096.47
As at 30 June 2015, the intangible assets from internal research and development account for 27.43% of total
intangible assets.
16. Development expenditure
Deduction Ending
Charged to income Charged to income
Item Beginning Addition
Statement of the Current Statement of the Current
period period
Automobile
Development 627,845,455.00 608,265,322.39 392,839,425.87 49,404,936.83 793,866,414.69
Total 627,845,455.00 608,265,322.39 392,839,425.87 49,404,936.83 793,866,414.69
17、Goodwill
Addition Deduction Impairment
Investee Beginning Ending
provision
Hebei Changan Automobile Co., Ltd 9,804,394.00 - - 9,804,394.00 -
Nanjing Changan Automobile Co.,
73,465,335.00 - - 73,465,335.00 73,465,335.00
Ltd
Total 83,269,729.00 - - 83,269,729.00 73,465,335.00
18、Long-term deferred expenses
Item Beginning Addition amortization Amortization Ending
Gaobao Lake
Reservir Greening 360,160.00 - 90,040.00 - 270,120.00
Tools 256,646.27 1,050,604.45 - - 1,307,250.72
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Chongqing Changan Automobile Company Limited Semi-annual Report 2015
Others 1,071,057.05 - 156,296.35 - 914,760.70
Total 1,687,863.32 1,050,604.45 246,336.35 - 2,492,131.42
19、Deferred tax assets and liabilities
Deferred tax assets and liabilities are listed separately.
(1) Recognized deferred tax assets and liabilities:
Item Ending Beginning
Deferred tax assets
Provision for the impairment of assets 123,244,083.89 112,581,608.59
Accrued expenses and contingent liabilities 694,688,571.01 540,568,393.92
Unpaid tech development expense and advertisement
57,578,129.99 19,841,251.98
expense
Deferred income 326,654,690.32 357,046,385.94
Unpaid salary and bonus and others 131,616,716.50 130,547,132.15
Subtotal 1,333,782,191.71 1,160,584,772.58
Deferred tax liabilities
Available-for-sale financial assets on the changes in fair
48,886,125.00 55,915,125.00
value
Others 1,118,640.38
Subtotal 50,004,765.38 55,915,125.00
20、Provision for the impairment of assets
Deduction Ending
Item Beginning Addition
Reversal Write-off
I. Bad debt provision 71,292,251.66 444,249.05 87,179.44 - 71,649,321.27
II. Provision for obsolete
inventory 154,595,809.15 121,533,007.46 41,485,445.54 61,554,729.01 173,088,642.06
III. Provision for the impairment
of fixed assets 596,528,100.41 47,748,719.67 - 2,035,525.66 642,241,294.42
IV. Impairment of construction in
progress 10,458,678.57 - - - 10,458,678.57
V. Provision for the impairment
of intangible assets 97,496,465.60 - - - 97,496,465.60
VI. Provision for the impairment
of goodwill 73,465,335.00 - - - 73,465,335.00
Total 1,003,836,640.39 169,725,976.18 41,572,624.98 63,590,254.67 1,068,399,736.92
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Chongqing Changan Automobile Company Limited Semi-annual Report 2015
21、Other non-current assets
Item Ending Beginning
Prepayment of land - 60,901,712.09
Prepayment of equity investment 9,254,421.48 -
Total 9,254,421.48 60,901,712.09
22、Short-term loans
Item Ending Beginning
Pledge loans 70,000,000.00 50,000,000.00
Guaranteed loans - -
Credit loans 10,000,000.00 40,000,000.00
Total 80,000,000.00 90,000,000.00
23、Notes payable
Item Ending Beginning
Commercial acceptance bill - 217,000,000.00
Bank acceptance bill 17,313,411,040.78 12,891,623,397.32
Total 17,313,411,040.78 13,108,623,397.32
24、Accounts payable
Item Ending Beginning
Accounts payable 14,906,845,367.89 13,038,793,688.31
total 14,906,845,367.89 13,038,793,688.31
25、Advances from customers
Item Ending Beginning
Advances from customers 6,010,658,378.93 5,802,717,284.79
total 6,010,658,378.93 5,802,717,284.79
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Chongqing Changan Automobile Company Limited Semi-annual Report 2015
26、Payroll payable
30 June 2015
Item Beginning Addition Deduction Ending
Short term salary 953,842,876.88 2,390,685,164.07 2,652,987,473.69 691,540,567.26
benefits
Defined contribution 62,967,787.92 199,509,412.83 163,397,092.48 99,080,108.27
plans
Early retirement 5,559,000.00 - - 5,559,000.00
benefits
Total 1,022,369,664.80 2,590,194,576.90 2,816,384,566.17 796,179,675.53
30 June 2015
Item Beginning Addition Deduction Ending
Salary, bonus, allowance 692,255,777.18 1,829,703,724.97 1,871,977,768.08 649,981,734.07
and subsidy
Employee benefit 170,566,171.82 215,114,558.93 374,217,020.93 11,463,709.82
Social insurance -7,196,563.33 158,532,013.07 136,659,970.23 14,675,479.51
Housing accumulation fund 87,857,996.99 133,748,129.40 219,592,436.37 2,013,690.02
Labor fund and employee 10,359,494.22 53,586,737.70 50,540,278.08 13,405,953.84
education fund
Total 953,842,876.88 2,390,685,164.07 2,652,987,473.69 691,540,567.26
30 June 2015
Item Beginning Addition Deduction Ending
Basic retirement 57,806,919.53 181,455,710.46 151,382,892.86 87,879,737.13
security
Unemployment 5,160,868.39 18,053,702.37 12,014,199.62 11,200,371.14
insurance
Total 62,967,787.92 199,509,412.83 163,397,092.48 99,080,108.27
27、Taxes payable
Item Ending Beginning
Value-added tax -261,134,381.92 -539,064,710.78
Consumption tax 291,926,860.52 401,279,837.43
Business tax 1,525,724.63 282,714.01
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Chongqing Changan Automobile Company Limited Semi-annual Report 2015
Corporate income tax 362,243,726.57 141,452,158.87
Individual Income tax 5,544,504.99 1,652,891.26
City maintenance and construction tax 16,510,341.45 11,004,722.20
Education additional expenses 10,785,575.77 7,281,955.73
Others 11,616,727.40 12,134,437.82
total 439,019,079.41 36,024,006.54
28、Interest payable
Item Ending Beginning
Long-term loan interest - -
Corporate bonds interest 698,487.22 -
Short-term loan interest 20,988,000.00 73,458,000.00
total 21,686,487.22 73,458,000.00
29、Dividend payable
Item Ending Beginning
Dividend payable – Hebei Changan Minority
79,742.80 79,742.80
interests
total 79,742.80 79,742.80
30、Other payables
Item Ending Beginning
Dealer earnest money 55,298,584.29 80,536,502.50
Warranty 166,263,896.57 166,479,977.35
Repair fees 95,094,689.63 112,281,336.33
Advertisement fees 154,937,226.08 371,576,347.22
Warehousing and transport fees 359,552,016.52 366,946,572.75
Loans temporarily 5,540,320.11 2,933,577.79
Project funds 442,561,807.01 864,715,976.54
Others 151,297,735.75 41,946,345.10
total 1,430,546,275.96 2,007,416,635.58
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Chongqing Changan Automobile Company Limited Semi-annual Report 2015
31、Contingent liabilities
Item Beginning Addition Deduction Ending
Warranty 1,221,114,880.50 709,584,591.26 379,411,659.13 1,551,287,812.63
total 1,221,114,880.50 709,584,591.26 379,411,659.13 1,551,287,812.63
Note: Warranty is the estimated repair expenses for the sold vehicles within warranty period.
32、Other current liabilities
Item Ending Beginning
Accrued utilities 8,957,825.21 21,061,398.76
Accrued transportation fee 721,291,541.06 415,843,773.77
Accrued labor service fee 5,637,584.33 61,730,677.11
Accrued technology royalty 171,741,746.01 117,420,347.70
Accrued commercial discount payable 1,555,767,817.90 1,766,670,010.35
Accrued market development expense 208,443,952.05 172,731,573.72
Accrued extending warranty 315,400,000.00 315,400,000.00
Others 244,235,832.92 51,041,190.27
total 3,231,476,299.48 2,921,898,971.68
33、Bonds payables
Item Date Beginning Addition Deduction Ending
23
Corporate bonds 1,971,184,679.89 1,958,959.98 0.00 1,973,143,639.87
April2012
With the permission of the China securities regulatory commission regulatory approval [2012] no. 2012, the company to the public in
April 2012, issue corporate bonds, face value of RMB 1,980,000,000.00 coupon for fixed rate 5.30%, according to the annual interest
payments, FuXiRi for every year on April 23, the final payment date is April 23, 2017. After deducting distribution costs RMB
19589600.00, raised RMB 1960410400.00. The bond is provided by the parent company China changan full unconditional
irrevocable joint and several guarantee. During the reporting period, the company has to pay on April 23, 2014 to April 22, 2015,
during the period of interest at a pre-determined (third year).
34、Special payables
Item Beginning Addition Deduction Ending
Project 863 2,001,536.98 146,457.84 1,855,079.14
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Chongqing Changan Automobile Company Limited Semi-annual Report 2015
Test on key technology of hybrid
4,574,023.58 1,980,000.00 1,103,876.53 5,450,147.05
electric vehicles
New Vehicle product 5,927,576.20 - 5,927,576.20
Automobile product chain sharing
4,753,127.54 - 4,753,127.54
platform
Gasoline Engine Development 5,422,741.44 2,050,000.00 1,946,341.65 5,526,399.79
Development and industrialization of
the embedded software platform for 263,547.70 - 263,547.70
automotive electronic controllers
Changan automobile E class Gasoline
engine cylinder block, cylinder head 60,460,522.64 2,905.00 60,457,617.64
production line project
Land relocation compensation 55,350,709.40 - 55,350,709.40
Project 973 161,820.82 - 161,820.82
Automotive order to delivery system
475,689.00 - 475,689.00
project
Industrialization of patented
1,346,080.00 955,000.00 554,720.01 1,746,359.99
technologies
Vehicle network intelligent information
terminal middleware key technologies -56,906.30 - -56,906.30
research and application
Development and industrialization of
-8,034,846.50 1,100,759.00 14,875,325.73 -21,809,413.23
C206 pure electric cars
System development of
electromagnetic compatibility of key 234,897.06 - 234,897.06
accessories on electric cars
Others 13,755,415.57 303,170.00 1,904,459.05 12,154,126.52
Total 146,635,935.13 6,388,929.00 20,534,085.81 132,490,778.32
35. Deferred income
2015
Item Beginning (Restated) Addition Deduction Ending
Government grants related to
2,687,392,181.26 607,692.17 63,031,044.72 2,624,968,828.71
assets
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Chongqing Changan Automobile Company Limited Semi-annual Report 2015
2014
Item Beginning Addition Deduction Ending
Government grants related to
2,726,487,939.90 66,698,671.17 105,794,429.81 2,687,392,181.26
assets
As at 30 June 2015, details of liabilities related to government grants are as follows:
Recorded to
Relates to
Item Beginning (Restated) Addition non-operating Ending
asset/gain
income
Subsidies for the automobile comprehensive
571,317,416.66 - 13,507,750.00 557,809,666.66 Relates to asset
testing ground project
Funds for Yuzui motor city project 255,765,306.12 - 2,841,836.74 252,923,469.38 Relates to asset
Funds for Beijing Changan project 1,096,809,079.12 - 15,529,556.28 1,081,279,522.84 Relates to asset
Funds for technology innovation 16,150,000.00 - - 16,150,000.00 Relates to asset
Funds for expansion of production capacity of
17,420,000.00 - - 17,420,000.00 Relates to asset
auto mold
Funds for H series engine 53,333,333.38 - 2,666,666.66 50,666,666.72 Relates to asset
Industry upgrading project for small displacement
engine and technological transformation project 140,551,527.80 - 7,982,916.66 132,568,611.14 Relates to asset
for CB type engine production line
Expansion of production capacity project 56,192,938.84 - 2,343,303.42 53,849,635.42 Relates to asset
Subsidies for the construction of Hebei new plant 22,700,000.00 - 1,370,000.00 21,330,000.00 Relates to asset
Funds for the project of Ministry of Industry and
5,000,000.00 - - 5,000,000.00 Relates to asset
Information Technology
Subsidies for engine produce base of Nanjing
9,545,952.00 - 66,291.32 9,479,660.68 Relates to asset
Changan
Light vehicle technical transformation project of
150,500,647.00 - - 150,500,647.00 Relates to asset
Baoding Changan Bus
Subsidies for initial capital of new basebut and
238,546,198.06 - 14,172,992.34 224,373,205.72 Relates to asset
research and development
Premium rebate from Dingzhou local bureau
10,900,818.41 - - 10,900,818.41 Relates to asset
of finance
Hebei M201 bus production plant project 3,861,111.11 - - 3,861,111.11 Relates to asset
Producitization of automobile lightweight
23,697,013.51 - 440,619.52 23,256,393.99 Relates to asset
components
Development and industrial application of
high-effective and clean turbochargeddirect 10,022,200.00 - 1,783,690.00 8,238,510.00 Relates to asset
injection gasoline engine
Development and industrial application of the 4,990,638.87 - 212,421.39 4,778,217.48 Relates to asset
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Chongqing Changan Automobile Company Limited Semi-annual Report 2015
intelligent vehicle terminal with Beidou
compatible GPS
Development of the key technology of the
laser micro texture on the surface of
88,000.38 - 88,000.38 - Relates to asset
energy-efficient and anti-friction internal
combustion
Nanjing Changan coal-fired boiler renovation
- 300,000.00 25,000.01 274,999.99
project
Car extended warranty - 307,692.17 - 307,692.17
Total 2,687,392,181.26 607,692.17 63,031,044.72 2,624,968,828.71
36、Share capital
Current movement
Beginning Issuance of Transfer of reserve Ending
Stock dividend others Subtotal
shares to common shares
the sum of
4,662,886,108.00 4,662,886,108.00
shares
37、Capital reserves
Item Beginning Addition Deduction Ending
Share premium 3,125,122,572.65 - - 3,125,122,572.65
Capital reserve transferred arising 44,496,899.00 - - 44,496,899.00
from the old standards
Impairment of equity investment 17,015,985.20 - - 17,015,985.20
Others 40,853,863.98 - - 40,853,863.98
total 3,227,489,320.83 - - 3,227,489,320.83
38、Other comprehensive income
item Report period Same period of last year
1. Profits (loss) generated from available for sale financial
-46,860,000.00 -25,842,756.00
assets
Less: Available for sale financial assets arising from income tax
-7,029,000.00 -4,011,189.00
effect
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Chongqing Changan Automobile Company Limited Semi-annual Report 2015
Net - through other comprehensive income into the profits and
- 40,351,736.33
losses of the current
Subtotal -39,831,000.00 -62,183,303.33
2. Translation differences of foreign currency financial
-15,630,463.52 716,558.75
statements
total -55,461,463.52 -61,466,744.58
39、Surplus reserves
Item Beginning Addition Deduction Ending
Statutory surplus 2,331,443,054.00 - - 2,331,443,054.00
total 2,331,443,054.00 - - 2,331,443,054.00
40、Retained earnings
Item sum
Retained earnings at beginning of year before
15,115,601,819.79
adjustments
Adjust the early undistributed profits total -
Retained earnings at beginning of year after
15,115,601,819.79
adjustments
Add: Net profit belong to parent company 5,085,266,527.13
common stock dividends payable 1,169,092,724.43
Retained earnings at the end 19,031,775,622.49
41、Operating revenue and cost
（1）Operating revenue
item Report period Same period of last year
Operating revenue 32,500,273,613.80 23,673,135,459.44
Other operating revenue 552,681,563.69 533,595,182.51
Operating cost 27,249,934,200.22 19,995,482,492.16
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Chongqing Changan Automobile Company Limited Semi-annual Report 2015
（2）Main business (divisions)
Report period Same period of last year
item
Total revenue Operating cost Total revenue Operating cost
motor industry 32,500,273,613.80 26,975,703,171.68 23,673,135,459.44 19,671,555,305.88
total 32,500,273,613.80 26,975,703,171.68 23,673,135,459.44 19,671,555,305.88
（3）Main business (product)
Report period Same period of last year
item
Total revenue Operating cost Total revenue Operating cost
Sale of goods 32,410,068,040.76 26,909,610,981.03 23,544,052,444.90 19,551,708,604.35
Outsourcing processing 90,205,573.04 66,092,190.65 129,083,014.54 119,846,701.53
total 32,500,273,613.80 26,975,703,171.68 23,673,135,459.44 19,671,555,305.88
（4）Main business areas (points)
Report period Same period of last year
Item
Total revenue Operating cost Total revenue Operating cost
civil 32,264,164,073.00 26,743,919,822.88 23,267,494,217.35 19,278,290,530.55
foreign 236,109,540.80 231,783,348.80 405,641,242.09 393,264,775.33
total 32,500,273,613.80 26,975,703,171.68 23,673,135,459.44 19,671,555,305.88
42、Business tax and surcharges
item Report period Same period of last year
Consumption tax 1,298,240,340.17 753,408,150.96
Business tax 10,061,570.30 4,623,743.22
City maintenance and construction
160,918,999.15 113,841,174.20
tax
Education additional expenses 76,356,274.10 53,203,727.28
Others 49,687.80 18,707.38
total 1,545,626,871.52 925,095,503.04
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Chongqing Changan Automobile Company Limited Semi-annual Report 2015
43、Operating expenses
item Report period Same period of last year
Payroll and welfare 134,956,336.92 116,360,521.66
Promotion fee 478,571,789.65 354,757,352.98
Transportation expenses 1,042,820,106.95 885,615,824.56
Travelling expenses 30,530,276.77 28,239,457.34
Package expenses 6,575,440.70 4,435,654.86
Administrative expenses 6,658,362.91 4,974,866.88
Selling service fee 525,379,058.48 572,542,532.44
Sales discount -142,150,000.00 117,284,905.39
Others 51,809,259.51 30,818,909.56
total 2,135,150,631.89 2,115,030,025.67
44、General and administrative expenses
item Report period Same period of last year
Payroll and welfare 816,862,056.63 655,221,251.08
Technology research expenses 495,299,687.29 393,233,607.42
Administrative expenses 4,928,473.32 4,448,412.55
Depreciation and amortization 318,144,953.11 290,560,274.85
Miscellaneous service charges 6,631,643.12 10,748,395.21
Tax fee 127,436,015.13 85,783,062.19
Traffic expenses 25,266,502.50 26,530,366.54
Travelling expenses 10,360,918.55 11,337,613.24
Entertainment expenses 1,363,858.33 3,285,301.26
Others 233,619,156.90 122,211,924.73
total 2,039,913,264.88 1,603,360,209.07
45、Financial expenses
item Report period Same period of last year
Interest expense 55,625,821.57 127,203,294.67
Less: interest income 132,549,376.19 50,186,885.04
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Chongqing Changan Automobile Company Limited Semi-annual Report 2015
Exchange gain or loss 11,530,314.80 -3,508,098.72
Others 12,684,006.26 8,625,051.85
total -75,769,863.16 89,149,560.21
46、Investment income
（1）Details of investment income
item Report period Same period of last year
Long-term equity investment income under cost
method
Long-term equity investment income under equity
4,910,730,579.44 3,998,756,500.66
method
Stock dividend income from available-for-sale
52,219,215.31 31,252,435.46
financial assets
Available-for-sale financial assets investment
- 54,031,310.36
income through disposal
total 4,962,949,794.75 4,084,040,246.48
47、Impairment loss on assets
item Report period Same period of last year
1. Bad debt loss 357,069.61 548,902.34
2. Impairment provision of obsolete inventory 80,047,561.92 32,006,005.08
3. Impairment provision of fixed assets 47,748,719.67 -
4. Impairment provision of intangible assets - -
total 128,153,351.20 32,554,907.42
48、Non-operating income
item Report period Same period of last year
Non-current assets disposal gains in total 609,783.28 4,877,962.16
Gain on the disposal of fixed assets 609,783.28 4,877,962.16
Donations - 159,776.18
Government grants 214,704,329.34 76,777,987.45
others 37,995,685.18 8,637,860.25
Total 253,309,797.80 90,453,586.04
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Chongqing Changan Automobile Company Limited Semi-annual Report 2015
49、Non-operating expenses
item Report period Same period of last year
Non-current assets disposal has lost 2,420,217.68 2,119,964.57
Loss on the disposal of fixed assets 2,420,217.68 2,119,964.57
Donation 200,000.00 335,000.00
Others 14,384,798.43 2,799,673.76
Total 17,005,016.11 5,254,638.33
50、Income tax expense
item Report period Same period of last year
Current income tax expense 379,069,503.23 86,434,121.58
Deferred income tax adjustment -207,604,445.04 -86,964,798.12
total 171,465,058.19 -530,676.54
51、Notes to cash flow statement
（1）The major cash received relating to other operating activities
item Amount
Interest income 107,992,087.83
Government grants related to operating activities 155,254,970.00
Others 29,881,402.90
Total 293,128,460.73
（2）The major cash paid relating to other operating activities
item Amount
Selling expense 1,565,047,031.07
Administrative expense 777,470,240.01
Others 103,798,171.76
Total 2,446,315,442.84
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Chongqing Changan Automobile Company Limited Semi-annual Report 2015
（3）The major cash received relating to other investing activities
item Amount
Acceptance deposits back 300,000.00
Total 300,000.00
（4）The major cash paid relating to other investing activities
item Amount
Counter Fee -
others 45,000.00
Total 45,000.00
(5) The major cash received relating to other financing activities
Item 2014
Withdraw for deposit of bill 59,290,854.64
Others 251,689.99
Total 59,542,544.63
(6) The major cash paid relating to other financing activities:
Item 2014
Payment for deposit of bill 38,247,747.98
Others 8,277.90
Total 38,256,025.88
52、Supplementary information of cash flow statement
（1）Supplementary information of cash flow statement
Unit: Yuan
Supplementary information Current Amount Prior-period Amount
1．Cash flow relating to operating activities calculated by
-- --
adjusting the net profit
Net profit 5,057,736,239.19 3,615,827,815.11
Add: provision for assets impairment 128,153,351.20 32,554,907.42
Depreciation of fixed assets, oil and gas assets, productive
885,034,987.03 750,834,739.74
biological assets
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Chongqing Changan Automobile Company Limited Semi-annual Report 2015
Amortization of intangible assets 220,443,346.43 178,875,695.04
Amortization of long-term deferred expense 233,276.20 232,661.86
Disposal loss/(income) on fixed assets, intangible assets
-66,568,668.28 -2,218,247.15
and others long-term assets(with “-” for gains)
Loss on discarding of fixed assets(with “-” for gains) 1,197.74 -
Loss from fair value changes (with “-” for gains) - -
Financial expense(with “-” for gains) -75,769,863.16 89,149,560.21
Investment loss(with “-” for gains) -4,962,949,794.75 -4,084,040,246.48
Decrease in deferred tax assets(with “-” for gains) -173,197,419.13 -86,964,798.12
Decrease in inventory(with “-” for gains) -947,251,727.57 -1,367,092,373.86
Decrease in operating receivables(with “-” for gains) -38,489,961.80 -1,916,426,696.97
Increase in operating payables(with “-” for gains) 6,471,528,980.04 6,298,901,316.50
Others -62,754,965.11 31,860,927.61
Net cash flows from operating activities 6,436,148,978.03 3,541,495,260.91
2. Investment and financing activities involving no cash
-- --
incomings / outgoings
3. Movement of cash and cash equivalents -- --
Ending balance of cash equivalents 13,344,907,253.77 7,196,742,792.11
Less: beginning balance of cash equivalents 9,362,853,917.71 3,942,941,861.56
Net increase in cash and cash equivalents 3,982,053,336.06 3,253,800,930.55
（2）Cash and cash equivalents
Unit: Yuan
Item Ending balance Beginning balance
I. Cash 13,344,907,253.77 9,693,083,497.78
Including: Cash on hand 49,581.96 92,359.69
Bank deposits that can be readily used 13,344,857,671.81 9,362,824,743.58
Other monetary assets that can be readily used - 330,229,580.07
II. ending balance of cash and cash equivalents 13,344,907,253.77 9,693,083,497.78
VIII、The change of consolidation scope
1、Business combination not under the Same Control
□Applicable √not Applicable
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Chongqing Changan Automobile Company Limited Semi-annual Report 2015
2、Combination under the same control
□Applicable √not Applicable
3、Counter purchase
□Applicable √not Applicable
4、Disposal subsidiary
Whether there is a single disposal of the subsidiary company investment that is the loss of control of the situation
□Applicable √not Applicable
Whether there is a situation of the loss of control over the period of the investment and the loss of control of the subsidiary company
through multiple transactions
□Applicable √not Applicable
5、Change of consolidation scope due to other reasons
Other reasons leading to the consolidation of the scope of the change (such as the new subsidiary, clearing subsidiary, etc.) and its
relevant circumstances：no
IX、 Stake in other entities
1. Rights in subsidaries
The subsidiaries of the Company are as follows：
Company name Main Registered place Nature of Registered Total proportion of
operating business capital shareholders (%)
place (0,000) direct indirect
I. The subsidiary formed by establish or investment
Hebei Changan Automobile Co., Ltd. (note Manufact -
Dingzhou Dingzhou 46,469 94.22
1) uring
Chongqing Changan International -
Chongqing Chongqing sales 1,376 95.00
Automobile Sales Co., Ltd.
Chongqing Changan Automobile Sales Co., -
Chongqing Chongqing sales 4,850 100.00
Ltd.
Chongqing Changan Special Automobile -
Chongqing Chongqing sales 500 50.00
Sales Co., Ltd (note 2)
Chongqing Changan Automobile Supporting -
Chongqing Chongqing sales 3,000 100.00
Service Co., Ltd.
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Chongqing Changan Automobile Company Limited Semi-annual Report 2015
Chongqing Changan New Energy -
Chongqing Chongqing R&D 2,900 65.00
Automobile Co. Ltd.
Chongqing Changan Europe Design -
Turin, Italy Turin, Italy R&D EUR1,460 100.00
Academy Co., Ltd.
Nottingham, -
Changan United Kingdom R&D Center Co., Nottingham,
United R&D GBP10 100.00
Ltd. United Kingdom
Kingdom
Beijing Changan R&D Center Co., Ltd. Beijing Beijing R&D 100 100.00 -
Harbin Changan R&D Center Co., Ltd. Habin Habin R&D 100 100.00 -
Shanghai Changan R&D Center Co., Ltd. Shanghai Shanghai R&D 100 100.00 -
Yokohama, Yokohama, -
Changan Japan Designing Center Co.,Ltd. R&D JPY2,000 100.00
Japan Japan
Changan United States R&D Center Co., Troy, United Troy, United -
R&D USD20 100.00
Ltd. states states
Moscow, -
Changan Automobile Russia Co., Ltd. Moscow, Russia Sales USD20 100.00
Russia
St. Paul, -
Changan Brazil Holdings Limited St. Paul, Brazil Sales BRL100 100.00
Brazil
II. The subsidiary formed by business combination not under common control
Nanjing Changan Automobile Co., Manufact -
Nanjing Nanjing 60,181 84.73
Ltd.(note1) uring
III. The subsidiary formed by business combination under common control
Chongqing Changan Automobile sales -
China China Sales 850 100.00
subsidiaries
Manufact -
Hebei Baoding Changan Bus Co., Ltd. Dingzhou Dingzhou 3,000 100.00
uring
Manufact -
Hefei Changhe Automobile Co.,Ltd. Hefei Hefei 77,500 100.00
uring
Note 1: the Company owns 93.79% and 95.70% of voting shares of Nanjing Changan Automobile Co., Ltd. And Hebei Changan
Automobile Co., Ltd. respectively, the difference between proportion of voting shares and proportion of shares held is due
to the voting right consigned from minority shareholders.
Note 2: The remaining shareholders of Chongqing Changan Special Automobile Co., Ltd. made an agreement with the Company that
the remaining shareholders are to vote in accordance with the Company. The main financial and operating policies have
been controlled by the Company, so it is included in the scope of consolidated financial statements.
As at June 30,2015, the Group has no subsidiaries with important minority interests.
2.Transctions result in change of holdingshare proportion but no effect in control of subsidiaries
□Applicable √not Applicable
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Chongqing Changan Automobile Company Limited Semi-annual Report 2015
3. Stakes in joint ventures and associates
Company name Main Registered Nature of business Registered Total Accoun
operating place capital proportion of ting
place (0,000) shareholders treatme
(%) nt
direct inder
ect
I. Joint ventures
Chongqing Changan Suzuki Manufacture and sale of
Chongqing Chongqing USD19,000 50.00 - Equity
Automobile Co., Ltd. automobiles, and components
Manufacture and sale of
Jiangling Holding Co., Ltd. Nanjing Nanjing 200,000 50.00 - Equity
automobiles, and components
Manufacture and sale of
Changan Ford Automobile Co., Ltd. Chongqing Chongqing USD24,100 50.00 - Equity
automobiles, and components
Changan Mazda Automobile Co., Manufacture and sale of
Nanjing Nanjing USD11,097 50.00 - Equity
Ltd. automobiles, and components
Changan Ford Mazda Engine Co., Manufacture and sale of
Nanjing Nanjing USD20,996 50.00 - Equity
Ltd. automobiles, and components
Changan PSA Automobiles Co., Manufacture and sale of
Shenzhen Shenzhen 400,000 50.00 - Equity
Ltd. (Note) automobiles, and components
II. Associates
Chongqing Xiyi Automobile Develop, manufactory, sale of
Chongqing Chongqing 1,900 40.00 - Equity
Linkage Rod Co., Ltd. linkage rod
Develop, product and sale of
Chongqing Changan Kuayue
Chongqing Chongqing automobile and components; 6,533 34.30 - Equity
Automobile Co., Ltd.
import and export goods.
Sale of Changan Kuayue’ s
Chongqing Changan Kuayue automobile and agricultural cars
Chongqing Chongqing 300 34.30 - Equity
Automobile Sales Co., Ltd. and components. Technical
advisory services for automobile
Beijing Fang’an Taxi Co., Ltd. Beijing Beijing Regional taxi operation 1,420 42.25 - Equity
X、Risks associated with financial instruments
1. Classification of financial instruments
The book values of different classes of financial instruments are as follows:
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Chongqing Changan Automobile Company Limited Semi-annual Report 2015
Financial assets
Loans and accounts Available-for-sale financial
June 30,2015 Total
receivable assets
Cash 13,644,093,727.18 - 13,644,093,727.18
Notes receivable 17,626,149,318.14 - 17,626,149,318.14
Accounts receivable 754,115,841.33 - 754,115,841.33
Other receivables 456,905,906.33 - 456,905,906.33
Available-for-sale financial assets - 497,596,774.00 497,596,774.00
Interest receivable 22,834,458.33 - 22,834,458.33
Total 32,504,099,251.31 497,596,774.00 33,001,696,025.31
Financial liabilities
June 30,2015 2014
Short-term loans 80,000,000.00 90,000,000.00
Notes payable 17,313,411,040.78 13,108,623,397.32
Accounts payable 14,906,845,367.89 13,038,793,688.31
Interest payable 21,686,487.22 73,458,000.00
Dividend payable 79,742.80 79,742.80
Other payables 1,430,546,275.96 2,007,416,635.58
Bonds payable 1,973,143,639.87 1,971,184,679.89
Total 35,725,712,554.52 30,289,556,143.90
2、Transfer of financial assets
The transferred financial assets that entirely derecognized but continuing involved
As at june 30 2015, the Group has endorsed bank acceptance bill with a carrying amount of
RMB4,895,985,678.60 to suppliers to settle the accounts payable. The maturities of the notes are between 1 to
12 months, according to the relevant provisions of the "law of negotiable instruments", if the banks refuse the
payment, the holder has the right of recourse to the Group (the "continuing involvement"). The Group holds the
view that almost all the risks and rewards concerned have been transferred; therefore, the book value of the
accounts payable should be derecognized. The maximum loss and the undiscounted cash flow of the continuing
involvement and repurchase is equal to its book value, the Group regards the fair value of the continuing
involvement is not significant.
In first half of 2015, the Group didn’t recoganize profit or loss on the transferring date. No revenue or expense
should be recogazied in accordance with the continuing involvement in the current period. The indorsement
occurred flatly in this period.
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Chongqing Changan Automobile Company Limited Semi-annual Report 2015
3、Risks of financial instruments
The Group’s principal financial instruments, except for derivatives, include bank loans, bonds payable, cash, etc.
The main purpose of these financial instruments is to raise finance for the Group’s operations. The Group has
various other financial assets and liabilities such as accounts receivable and accounts payable, which arise directly
from its operations.
The main risks arising from the Group’s financial instruments are credit risk, liquidity risk and market risk. The
Group’s risk management policies are summarized below:
Credit risk
The Group trades only with recognized, creditworthy third parties. It is the Group’s policy that all customers who
wish to trade on credit terms are subject to credit verification procedures. In addition, receivable balances are
monitored on an ongoing basis with the result that the Group’s exposure to bad debts is not significant. For
transactions that do not occur in the country of the relevant operating unit, the Group does not offer credit terms
without the approval of the special department of credit control.
With respect to credit risk arising from the other financial assets of the Group, which comprise cash and cash
equivalents, available-for-sale financial assets, other receivables, dividend receivables and certain derivatives
financial instruments, the Group’s exposure to credit risk arising from default of the counterparty, with a
maximum exposure equal to the carrying amount of these instruments, listed as book value of financial assets in
consolidated financial statements. In 2014, there was no credit risk arising from financial guarantee.
No gage is required since the Group trades only with recognized, creditworthy third parties. Credit risks are
managed by clients and industries collectively. As at 31 December 2014, among the Group’s collections with
specific credit risk, 37.77% of accounts receivables of the Group are due from top five clients respectively.
An analysis of financial assets of individual impairment:
June 30,2015
Total Book value Impairment provision
Accounts 754,115,841.33 821,225,921.69 67,110,080.36
receivable
Other receivables 456,905,906.33 461,445,147.24 4,539,240.91
Notes receivable 17,626,149,318.14 17,626,149,318.14 -
Available-for-sale 497,596,774.00 497,596,774.00 -
financial assets
Interest receivable 22,834,458.33 22,834,458.33 -
Although the existence of the company in Part of the accounts receivable impairment due to credit risk, but should
be single recognized impairment losses of accounts receivable balance of accounts receivable the ending balance
of proportion is very small, and the company has been confirmed according to the situation of credit risk the
possibility of credit risk loss. For no signs that need individual recognized impairment losses of accounts
receivable, the company according to the history of the credit risk of loss occur aging analysis of the proportion of
reasonably estimate the possible loss of credit risk, and the provision for bad debt provision in the balance sheet
date. Therefore, the company does not exist because of the occurrence of credit risk and leads to a significant loss.
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Chongqing Changan Automobile Company Limited Semi-annual Report 2015
Liquidity risk
The Group adopts cycle liquidity planning instrument to manage capital shortage risks. The instrument takes into
consideration the maturity date of financial instruments plus estimated cash flow from the Group’s operations.
The Group’s objective is to maintain a balance between continuity of funding and flexibility and sufficient cash to
support operating capital through financing functions by the use of bank loans, debentures, etc.
Market risk
Interest rate risk
The Group’s revenue and operating cash flows are seldomly influenced by the interest fluctuation. As at June 30,
2015, the Group’s loans are bearing fixed interest rate and the Group is not hedging the risk currently.
Foreign currency risk
The Group’s exposures to fluctuation in foreign currency exchange rate mainly arise from operating activities
where transactions are settled in currencies other than the units' functional currency and net investment to offshore
subsidiary.
In 2015, the Group less has transactional currency exposures of its total revenue that is valued in currencies other
than the units' functional currency. Since most of the Group’s businesses are opertated in China mainland, the
estimated influence of fluctuation of foreign currency is insignificant; therefore, the Group hasn’t carried out large
amount of hedging to reduce the risk.
Equity instruments investment price risk
The Group is exposed to equity price risk arising from individual equity investments classified as
available-for-sale investments (Note VII 9) as at June 30, 2015. The Group’s listed investments are listed on the
Shanghai stock exchanges and valued at quoted market prices at the end of the reporting period. The following
table demonstrates the sensitivity to every 5% change ( based on the carrying amount as at the end of reporting
period) in the Group’s net profit and fair value of the equity investments, with all other variables held constant,
based on their carrying amounts at the end of the reporting period.
Increase/
Carrying amount of Increase/(decrease) in
Change in fair value (decrease) in net
equity investments equity
profit
June 30, 2015
Shanghai- Available for sale 348,787,500.00 5% 17,439,375.00 348,787,500.00
Shanghai- Available for sale 348,787,500.00 (5%) (17,439,375.00) 348,787,500.00
2014
Shanghai- Available for sale 395,647,500.00 5% 19,782,375.00 395,647,500.00
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Chongqing Changan Automobile Company Limited Semi-annual Report 2015
Shanghai- Available-for-sale 395,647,500.00 (5%) (19,782,375.00) 395,647,500.00
4、Capital management
The main goal of the Group’s capital management is to ensure that the ability of continuous operation, and
maintain a healthy capital ratios in order to support business development, and to maximize shareholder value.
The Group manages the capital structure and adjusts it with the change of economy trend and the risk feature of
the assets. To maintain or adjust the capital structure, the Group can rectify dividend distribution, return capital to
shareholders or issue new shares. The Group is not subject to external mandatory capital requirements constraints.
The goal, principle and procedure of capital management stay the same in First half of 2015
In June 30, 2015 and December 31, 2014 ,The Group’s leverage ratio on the balance sheet date is as fo
llows:
June 30, 2015 December 31, 2014
Leverage ratio 63.33% 63.47%
XI、Disclosure of fair value
1、Assets and liabilities measured at fair value
June 30, 2015
Input measured at fair value
Quoted price in Important and Important but
active market observable input unobservable input Total
(The first level) (The second level） (The second level)
Available-for-sale
financial assets- equtiy 348,787,500.00 - - 348,787,500.00
instruments
June 30, 2015
Input measured at fair value
Quoted price in Important and observable Important but
active market input unobservable input Total
(The first level) (The second level) (The second level)
Available-for-sale
financial assets- equtiy 395,647,500.00 - - 395,647,500.00
instruments
2、Assets and liabilities disclosed in fair value
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Chongqing Changan Automobile Company Limited Semi-annual Report 2015
June 30, 2015
Input measured at fair value
Quoted market price in Important and Important but
active market observable input unobservable input Total
(The first level) (The second level） (The second level)
Bonds payable 2,051,280,000.00 - - 2,051,280,000.00
2014
Input measured at fair value
Quoted market price in Quoted price in Quoted price in active Quoted price in active
active market active market market market
(The first level) (The first level) (The first level) (The first level)
Bonds payable 2,003,562,000.00 - - 2,003,562,000.00
For the In June 30, 2015, there is neither transference of financial assets and liabilities between first and second
level, nor transference to or from third level.
Fair value of financial instruments
Following are book value and fair value of financial instruments of the group except for equity instruments whose
fair value is similar with book value and those neither have quoted market price in active market nor be reliably
measured.
Book value Fair value
June 30, 2015 2014 June 30, 2015 2014
Finacial assets
Financial assets
available for sale- 348,787,500.00 395,647,500.00 348,787,500.00 395,647,500.00
equtiy instruments
Finacial liabilities
Bonds payable 1,973,143,639.87 1,971,184,679.89 2,051,280,000.00 2,003,562,000.00
Management has assessed and concluded that the fair value of the accounts, including cash, notes receivable,
accounts receivable, other receivables, short-term loans, intrest payable, dividend payables, other payables, notes
payable, accounts payable and so on, equal to book value because of their short term to overdue.
Financial assets and financial liabilities are measured at the amount that an asset could be exchanged for or by
which a liability could be incurred or settled by knowledged, willing parties in a current arm’s-length transaction,
other than liquidation or unwilling sales. Methods and hypothesis followed are used for determining fair value.
Bonds payable are carried at armotized cost and thoses fair value are determined by the settlement price on 30
June 2015 and 31 December 2014, which are traded in open and active market.
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Chongqing Changan Automobile Company Limited Semi-annual Report 2015
XII、Related parties and related party transactions
1. Parent company of the Company
Related Company Legal Proportion of Final Organizat
Place of Proportion of
Parent parties’ type represent Nature of the Registered voting rights controlling ion Code
registrati shares in the
company relationsh ative business capital in the party
on Company(%)
ip company(%)
China controllin Liability Xu Manufacture and China South
Changan g limited Liuping sale of Industries
4,582,373,7 7109339
Automobile sharehold Beijing automobiles, 39.11% 39.11% Group
00.00 4-8
Group er engine, and corporation
Co ,Ltd. components
Introduction to Parent company of the Company
Controlling shareholder: China changan automobile group co., Ltd.
Legal representative: Xu Liuping
Date of establishment: December 26, 2005
Organization code: 71093394-8
Registered capital: RMB 4582373700
Main business and products: design, development, manufacturing and marketing of automobiles, motorcycles, automobile
motorcycle engines, automobile motorcycle parts and components; Sales of optical products, electronic and optoelectronic products,
night vision equipments, information and communications equipment; technology development, technology transfer, technical
consulting, technical training, technical services related to the above mentioned business; Import and export business; Asset
acquisitions, recapitalization.
2. Subsidiaries
See subsidiaries in (8) Equity in other entities
3. Other related parties
Other Related parties Relationship
Changan Ford Automobile Co.,Ltd. joint venture
Changan Mazda Automobile Co.,Ltd. joint venture
Changan Ford Mazda Engine Co., Ltd. joint venture
Chongqing Changan Suzuki Automobile Co., Ltd. joint venture
Jiangling Holding Co., Ltd. joint venture
Jiangling Holding Landwind Plant joint venture
Changan PSA Automobiles Co., Ltd. joint venture
Chongqing Changan Kuayue Automobile Co., Ltd. Associated enterprise
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Chongqing Changan Automobile Company Limited Semi-annual Report 2015
Chongqing Xiyi Automobile Linkage Rod Co., Ltd. Associated enterprise
Changan Industries Group Co. Ltd. subordinate company of South Group
Chongqing Changan Min Sheng Logistics Co., Ltd. subordinate company of Changan Industries
Chongqing Changan Real Estate Development Co., Ltd. subordinate company of Changan Industries
Chongqing Changan Construction Engineering Co., Ltd. subordinate company of Changan Industries
Sichuan Hongguang Machinery and Electrics Co., Ltd. subordinate company of Changan Industries
Chongqing Changan Property Management Co., Ltd. subordinate company of Changan Industries
Chongqing Changan Visteon Engine Control Systems Co., Ltd. subordinate company of Changan Industries
China Changan Automobile Co., Ltd. Parent company
China Changan Automobile Co., Ltd. –Chongqing Qingshan Transmission
Branch Branch of China Changan
China Changan Automobile Co., Ltd. – Chengdu Jian'an Automobile Bridge
Branch Branch of China Changan
China Changan Automobile Co., Ltd. – Shichuan Jian'an Automobile Bridge
Branch Branch of China Changan
South Air International Co.,Ltd. subordinate company of China Changan
Sichuan Ningjiang Shanchuan Machinery Co, Ltd. subordinate company of China Changan
Sichuan Ningjiang Shanchuan Machinery Co, Ltd.-Longchang Shock Absorber
Branch subordinate company of China Changan
Chengdu Huachuan Electric Equipment Co., Ltd. subordinate company of China Changan
Chongqing Changfeng Jiquan Machinery Co., Ltd. subordinate company of China Changan
Chongqing Automobile Air-Conditioning Co., Ltd. subordinate company of China Changan
Csgc Trw Chassis Systems Co.,Ltd. subordinate company of China Changan
Hafei Motor Co., Ltd. subordinate company of China Changan
Chongqing Anfu Automobile Marketing Co., Ltd. subordinate company of China Changan
China Changan Automobile Group Tianjin Sales Co., Ltd. subordinate company of China Changan
Chengdu Ningjiang Zhaohe Automobile Components Co., Ltd. subordinate company of China Changan
Harbin Dongan Auto Engine Co., Ltd. subordinate company of China Changan
Harbin Dongan Automotive Engine Manufacturing Co., Ltd. subordinate company of China Changan
United Prosperity Investment Co., Ltd subordinate company of China Changan
Wanyou Automobile Investment Co., Ltd. subordinate company of China Changan
China South Industries Group Corporation The ultimate holding company
Hubei Xiaogan Huazhong Automobile Light Co., Ltd. subordinate company of South Group
Chongqing Changrong Machinery Co., Ltd. subordinate company of South Group
Chengdu Lingchuan Special Industry Co., Ltd. subordinate company of South Group
Chengdu Lingchuan Vehicle Oil Tank Co., Ltd. subordinate company of South Group
Yunnan Xiyi Industries Co., Ltd. subordinate company of South Group
Chongqing Shangfang Automobile Fittings Co., Ltd. subordinate company of South Group
Chongqing Dajiang Xinda Vehicles Shares Co., Ltd. subordinate company of South Group
Chongqing Dajiang Yuqiang Plastic Co., Ltd. subordinate company of South Group
Chongqing Jianshe Automobile Air-conditioner Co., Ltd. subordinate company of South Group
China South Industries Group Finance Co., Ltd. subordinate company of South Group
Southwest Ordnance Industry Corporation subordinate company of South Group
106
Chongqing Changan Automobile Company Limited Semi-annual Report 2015
Chongqing Wanyou Economic Development Co., Ltd. subordinate company of South Group
Chongqing Wanyou Auto Sales and Service Co., Ltd. subordinate company of South Group
Chongqing Wanbing Supplies Ltd. subordinate company of South Group
Chongqing Wanyou Construction Co., Ltd. subordinate company of South Group
Suining Wanyou Auto Sales and Service Co., Ltd subordinate company of South Group
Chongqing Wanyou Longrui Auto Sales and Service Co., Ltd. subordinate company of South Group
Chongqing Wanyou Longxing Auto Sales and Service Co., Ltd. subordinate company of South Group
Guangxi Wanyou Auto Sales and Service Co., Ltd. subordinate company of South Group
Nanning Wanyou Auto Sales and Service Co., Ltd. subordinate company of South Group
Chengdu Wanyou Economic Technological Development Co., Ltd. subordinate company of South Group
Chengdu Wanyou Xiangyu Auto Sales and Service Co., Ltd. subordinate company of South Group
Chengdu Wanyou Filter Co., Ltd. subordinate company of South Group
Chengdu Wanyou Trading Co., Ltd. subordinate company of South Group
Yunnan Wanyou Auto Sales and Service Co., Ltd. subordinate company of South Group
Guizhou Wanyou Auto Sales and Service Co., Ltd. subordinate company of South Group
Chongqing Yihong Engineering Plastic Products Co., Ltd. subordinate company of South Group
Chengdu Ningxing Automobile Spring Co., Ltd subordinate company of South Group
Beijing Beiji Mechanical and Electrical Industry Co., Ltd. subordinate company of South Group
Chengdu Jialing Huaxi Optical & Precision Machinery Co., Ltd. subordinate company of South Group
Chongqing Qingshan Transmission Sales Co., Ltd. subordinate company of South Group
Chongqing Dajiang Jiexing Forging Co., Ltd. subordinate company of South Group
Chongqing Jialing Yimin Special Equipment Co., Ltd. subordinate company of South Group
CDGM Tanaka Environmental Catalyst Co,. Ltd subordinate company of South Group
Yunnan Xiangyu Auto Sales and Service Co., Ltd. subordinate company of South Group
Tenneco Lingchuan(Chongqing) Exhaust System Co., Ltd. subordinate company of South Group
4、Related-party transaction
（1）Goods purchased and services received
Unit:Yuan
Related parties Nature of the Current amount Prior-period amount
transaction Proportion of Proportion
similar amount of similar
transactions transactions
amount (%) (%)
Purchase of spare 303,084,953.76 1.12%
53,955,592.69 0.26%
Changan Ford Automobile Co.,Ltd. parts
Purchase of spare
Chongqing Changan Suzuki
parts/ Transportation 259,367,354.92 0.96% 1,029,165.95 0.01%
Automobile Co., Ltd.
fee
Chongqing Xiyi Automobile Linkage Purchase of spare
7,133,874.18 0.03% 19,046,658.76 0.09%
Rod Co., Ltd. parts
Changan Industries Group Co. Ltd. Purchase of spare 41,383,386.67 0.15% 45,291,136.17 0.22%
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Chongqing Changan Automobile Company Limited Semi-annual Report 2015
Related parties Nature of the Current amount Prior-period amount
transaction Proportion of Proportion
similar amount of similar
transactions transactions
amount (%) (%)
parts
Chongqing Changan Minsheng Purchase of spare
451,684,872.15 1.67% 483,567,085.38 2.35%
Logistics Co., Ltd parts
Sichuan Hongguang Machinery and Purchase of spare
20,733,915.66 0.08% 44,038,118.76 0.21%
Electrics Co., Ltd. parts
Chongqing Changan Property Purchase of spare
Management Co., Ltd. parts and accept 1,538,177.96 0.01% 1,133,124.83 0.01%
service
Chongqing Changan Visteon Engine Purchase of spare
1,034,276.01 0.00% 1,598,790.72 0.01%
Control Systems Co., Ltd. parts
China Changan Automobile Co., Ltd. Purchase of spare
–Chongqing Qingshan Transmission parts and accept 1,042,335,738.99 3.86% 826,341,606.75 4.02%
Branch service
China Changan Automobile Co., Ltd. Purchase of spare
– Chengdu Jian'an Automobile Bridge parts 464,135,687.30 1.72% 438,756,754.68 2.13%
Branch
China Changan Automobile Co., Ltd. Purchase of spare
– Shichuan Jian'an Automobile Bridge parts 3,211,748.89 0.01% 5,822,733.71 0.03%
Branch
Purchase of spare
167,629,762.31 0.62% 97,673,083.85 0.48%
South Air International Co.,Ltd. parts
Sichuan Ningjiang Shanchuan Purchase of spare
31,700,860.31 0.12% 44,905,354.41 0.22%
Machinery Co, Ltd. parts
Sichuan Ningjiang Shanchuan Purchase of spare
Machinery Co, Ltd.-Longchang Shock parts 60,440,245.73 0.22% 64,373,285.44 0.31%
Absorber Branch
Chengdu Huachuan Electric Purchase of spare
204,275,941.90 0.76% 211,772,715.78 1.03%
Equipment Co., Ltd. parts
Chongqing Changfeng Jiquan Purchase of spare
21,849,525.13 0.08% 20,245,778.60 0.10%
Machinery Co., Ltd. parts
Purchase of spare
294,468,473.16 1.09% 327,347,891.30 1.59%
Csgc Trw Chassis Systems Co.,Ltd. parts
Hafei Motor Co., Ltd. 79,398,624.02 0.29% 132,991,452.99 0.65%
Chengdu Ningjiang Zhaohe Purchase of spare
23,400,749.28 0.09% 25,443.78 0.00%
Automobile Components Co., Ltd. parts
Purchase of spare
134,402,939.50 0.50% 67,825,719.59 0.33%
Harbin Dongan Auto Engine Co., Ltd. parts
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Chongqing Changan Automobile Company Limited Semi-annual Report 2015
Related parties Nature of the Current amount Prior-period amount
transaction Proportion of Proportion
similar amount of similar
transactions transactions
amount (%) (%)
Harbin Dongan Automotive Engine Purchase of spare
883,389,037.60 3.27% 292,763,954.96 1.42%
Manufacturing Co., Ltd. parts
Hubei Xiaogan Huazhong Automobile Purchase of spare
54,499,265.82 0.20% 63,152,088.36 0.31%
Light Co., Ltd. parts
Chongqing Changrong Machinery Purchase of spare
35,193,381.77 0.13% 61,037,141.96 0.30%
Co., Ltd. parts
Chengdu Lingchuan Special Industry Purchase of spare
19,089,090.16 0.07% 41,674,146.31 0.20%
Co., Ltd. parts
Chengdu Lingchuan Vehicle Oil Tank Purchase of spare
64,738,292.20 0.24% 50,610,995.03 0.25%
Co., Ltd. parts
Purchase of spare
48,270,967.93 0.18% 35,151,762.41 0.17%
Yunnan Xiyi Industries Co., Ltd. parts
Chongqing Shangfang Automobile Purchase of spare
45,600,807.00 0.17% 57,106,407.47 0.28%
Fittings Co., Ltd. parts
Chongqing Dajiang Xinda Vehicles Purchase of spare
26,864,629.25 0.10% 23,946,837.34 0.12%
Shares Co., Ltd. parts
Chongqing Dajiang Yuqiang Plastic Purchase of spare
54,670.06 0.00% 43,204.70 0.00%
Co., Ltd. parts
Chongqing Jianshe Automobile Purchase of spare
98,384,782.46 0.36% 83,908,287.53 0.41%
Air-conditioner Co., Ltd. parts
China South Industries Group Finance Accept service
30,583,503.97 0.11% 36,249,967.32 0.18%
Co., Ltd.
Purchase of spare
70,436,900.24 0.26% 41,103,182.21 0.20%
Chengdu Wanyou Filter Co., Ltd. parts
Chongqing Yihong Engineering Accept service
17,842,988.46 0.07% 15,169,860.21 0.07%
Plastic Products Co., Ltd.
Chengdu Ningxing Automobile Purchase of spare
7,340,066.25 0.03% 5,879,951.04 0.03%
Spring Co., Ltd parts
Chengdu Jialing Huaxi Optical & Purchase of spare
1,902,393.86 0.01% 2,205,202.34 0.01%
Precision Machinery Co., Ltd. parts
Chongqing Qingshan Transmission Purchase of spare
3,254,538.09 0.01% 3,785,894.32 0.02%
Sales Co., Ltd. parts
Chongqing Dajiang Jiexing Forging Purchase of spare
26,422,867.38 0.10% - -
Co., Ltd. parts
Chongqing Jialing Yimin Special Purchase of spare
324,678.78 0.00% - -
Equipment Co., Ltd. parts
CDGM Tanaka Environmental Purchase of spare
2,089,187.10 0.01% - -
Catalyst Co,. Ltd parts
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Chongqing Changan Automobile Company Limited Semi-annual Report 2015
Related parties Nature of the Current amount Prior-period amount
transaction Proportion of Proportion
similar amount of similar
transactions transactions
amount (%) (%)
United Prosperity Investment Co., Purchase of spare
1,080,030.35 0.00% - -
Ltd(Note 1) parts
Tenneco Lingchuan(Chongqing) Purchase of spare
56,378,053.90 0.21% - -
Exhaust System Co., Ltd. parts
Total 5,106,951,240.45 18.93% 3,701,530,377.65 18.02%
The price of the Group’s purchase from related parties is based on contracts agreed by both parties.
Note1: For year ended 2015, United Prosperity Investment Co., Ltd. provides financial service for the Company’s import of
machinery. Current year, the Company payed RMB 63,036,855.00 for purchase of machinery overseas on behalf of United Prosperity
Investment Co., Ltd. Therefore , the Company payed it RMB 980,918.15 for its import and export financing service.
Besides, for the year ended 2015, United Prosperity Investment Co., Ltd also provides sales agency service for the Group, and sales
amount to RMB 62,379,572.86, therefore the Group paid it RMB 99,112.20.
(2) Goods sold and services offered
Unit: Yuan
Current amount Prior-period Amount
Proportion Proportion
Related parties Nature of the transaction
of similar of similar
amount amount
transactio transactio
ns (%) ns (%)
Changan Ford Purchase of spare parts,
73,906,023.28 0.23% 66,909,928.80 0.28%
Automobile Co.,Ltd. personnel support
Chongqing Changan Purchase of spare parts,
Suzuki Automobile Co., personnel support 75,671,958.06 0.23% 508.00 0.00%
Ltd.
Changan PSA Purchase of spare parts,
2,439,567.21 0.01% - -
Automobiles Co.,Ltd personnel support
Changan Industries Purchase of spare parts,
541,079.03 0.00% 269,560.54 0.00%
Group Co. Ltd. service charges
Chongqing Changan Purchase of spare parts,
Minsheng Logistics Co., service charges 350,364.60 0.00% 67,110.35 0.00%
Ltd
Sichuan Hongguang Purchase of raw material
15,847,199.88 0.05% 22,162,746.00 0.09%
Machinery and Electrics
110
Chongqing Changan Automobile Company Limited Semi-annual Report 2015
Co., Ltd.
Chengdu Huachuan Purchase of spare parts
Electric Equipment Co., 19,927.56 0.00% 2,939,706.31 0.01%
Ltd.
Chongqing Anfu Sales of vehicles,spare
1,462,393.16 0.00% 3,213,692.31 0.01%
Automobile Co., Ltd. parts
China Changan Sales of vehicles,spare
Automobile Group parts 72,491,378.02 0.22% 32,620,888.78 0.13%
Tianjin Sales Co., Ltd.
Harbin Dongan Technical service
Automotive Engine 7,779,449.96 0.02% 4,060,894.51 0.02%
Manufacturing Co., Ltd.
United Prosperity Purchase of spare parts
Investment Co., Ltd(Note - 0.00% 5,104,718.30 0.02%
1)
Wanyou Automobile Sales of vehicles, spare
345,490,196.71 1.06% 551,386,549.46 2.28%
Investment Co.,Ltd parts
Chengdu Lingchuan Purchase of spare parts
43,224,500.86 0.13% 26,568,299.97 0.11%
Special Industry Co., Ltd.
Chengdu Lingchuan Purchase of spare parts
Vehicle Oil Tank Co., 5,042,460.44 0.02% 26,900,876.35 0.11%
Ltd.
Yunnan Xiyi Industries Purchase of spare parts
984,017.10 0.00% 1,532,767.52 0.01%
Co., Ltd.
Chongqing Wanyou Sales of vehicles, spare
Economic Technological parts 1,005,948,700.61 3.10% 810,050,037.40 3.35%
Development Co., Ltd.
Chongqing Wanyou Sales of vehicles, spare
Longrui Auto Sales and parts 1,051.66 0.00% - -
Service Co., Ltd.
Guangxi Wanyou Auto Sales of vehicles, spare
Sales and Service Co., parts 114,639,872.53 0.35% 67,441,475.42 0.28%
Ltd.
Nanning Wanyou Auto Sales of vehicles, spare
Sales and Service Co., parts 90,258,991.64 0.28% 53,280,340.04 0.22%
Ltd.
Chengdu Wanyou Sales of vehicles, spare
Economic Technological parts 394,601,982.01 1.21% 448,498,645.82 1.85%
Development Co., Ltd.
Chengdu Wanyou Sales of vehicles, spare
Xiangyu Auto Sales and parts 782,957,299.37 2.41% 445,426,149.48 1.84%
Service Co., Ltd.
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Chongqing Changan Automobile Company Limited Semi-annual Report 2015
Yunan Wanyou Auto Sales of vehicles, spare
Sales and Service Co., parts 536,252,713.70 1.65% 390,798,829.96 1.61%
Ltd.
Guizhou Wanyou Auto Sales of vehicles, spare
Sales and Service Co., parts 516,563,771.34 1.59% 353,540,028.30 1.46%
Ltd.
Yunnan Xiyi Industries Sales of vehicles, spare
54,354,771.56 0.17% - -
Co., Ltd. parts
China South Industries Regulatory charges
7,716,484.00 0.02% 7,529,248.00 0.03%
Group Finance Co.,Ltd
Total 4,148,546,154.29 12.76% 3,320,303,001.62 13.71%
The price of the Group’s purchase from related parties is based on contracts agreed by both parties.
（3）Related-party leasing
Related-party leasing
Unit: Yuan
Yearly
Type of leased The basis for
Lesser Lessee Starting date Expiring date recognized
assets rental pricing
rental
Chongqing
Changan Min Chongqing Based on
building 2015.01.01 2015.1.31 11,961,765.67
Sheng Logistics Changan agreement
Co., Ltd.
Chongqing
Changan Real
Chongqing Based on
Estate building 2015.01.01 2015.12.31 401,244.00
Changan agreement
Development Co.,
Ltd
Chongqing
Changan Real
Chongqing Offices and Based on
Estate 2015.01.01 2015.12.31 304,833.00
Changan garages agreement
Development Co.,
Ltd
(4) Asset transfer of related parties
Type of Report period Same period of last year
112
Chongqing Changan Automobile Company Limited Semi-annual Report 2015
Related party Note transaction Amount Proportion of similar Amount Proportion of similar
transactions (%) transactions (%)
China Changan Automobile (Note) Transfer of - - 440,606,2 100.00
Group Co.,Ltd. equity 30.50
Note: Acquisition of 100% equity of Hefei Changan owned by China Changan
113
Chongqing Changan Automobile Company Limited Semi-annual Report 2015
（5）Other related transactions
Integrated service charges
Related parties Nature of the transaction Report period Same period of last year
Amount Proportion of similar Amount Proportion of similar transactions (%)
transactions (%)
Payment of land rental fees 11,856,475.50 9.71% 11,892,475.50 11.27%
Payment of building rental fees 16,663,741.50 13.65% 16,627,741.50 15.75%
Changan Industries
Payment of utilities 82,475,499.37 67.57% 68,033,703.56 64.46%
Group Co. Ltd
Payment of fire fighting fees 685,000.00 0.56% 1,370,000.00 1.30%
Others 2,576,125.94 2.11% 4,725,941.09 4.48%
Hafei Automobile Co.,
integrated service charges 7,805,035.14 6.39% 2,898,812.92 2.75%
Ltd.,
Total 122,061,877.45 100.00% 100,712,171.84 100.00%
Purchase of project materials
Report period Same period of last year
Related parties Amount Proportion of similar transactions Amount Proportion of similar transactions
(%) (%)
Chongqing Changan Construction Co., Ltd 84,388,885.34 8.44% 52,566,597.70 11.81%
Chongqing Changan Min Sheng Logistics Co., Ltd. 1,718,008.15 0.17% 1,289,229.87 0.29%
Changan Industries Group Co. Ltd 1,337,830.00 0.13% 1,268,200.24 0.28%
Total 87,444,723.49 8.74% 55,124,027.81 12.38%
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Chongqing Changan Automobile Company Limited Semi-annual Report 2015
Personnel Technical Support
Related parties Report period Same period of last year
Amount Proportion of similar Amount Proportion of similar
transactions (%) transactions (%)
Changan Ford Automobile Co., Ltd. 10,805,300.98 77.14% 13,322,672.52 81.72%
Changan Mazda Automobile Co., Ltd. 3,423.49 0.02% 1,343,386.90 8.24%
Changan Ford Mazda Engine Co., Ltd. - 4,507.94 -0.03% - 0.00%
Chongqing Changan Suzuki Automobile Co., Ltd. - 1,832.00 -0.01% 255,142.00 1.57%
Jiangling Holding Co., Ltd. - 1,632.48 -0.01% 1,365,998.46 8.38%
Changan PSA Automobiles Co., Ltd. 2,875,398.56 20.53% - 0.00%
Chongqing Changan Kuayue Automobile Co., Ltd. - 2,366.76 -0.02% - 0.00%
Hafei Motor Co., Ltd. 234,449.28 1.67% 15,435.11 0.09%
Harbin Dongan Auto Engine Co., Ltd. 99,544.94 0.71% - 0.00%
Total 14,007,778.07 100.00% 16,302,634.99 100.00%
Techonology development service charges
Related parties Report period Same period of last year
Amount Proportion of similar transactions (%) Amount Proportion of similar transactions (%)
Changan PSA Automobiles Co., Ltd. - - - -
Chongqing Changan Suzuki Automobile Co., Ltd. - - 991,656.23 100.00%
Total - - 991,656.23 100.00%
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Chongqing Changan Automobile Company Limited Semi-annual Report 2015
Related party monetary funds
Ending Beginning
Amount Proportion of similar transactions Amount Proportion of similar transactions
Related parties
(%) (%)
China South Industries Group Finance Co., Ltd 2,912,325,053.96 21.34% 2,703,025,729.22 37.00%
Borrowing
Short-term borrowing
Ending Beginning
Amount Proportion of similar transactions Amount Proportion of similar transactions
Related parties
(%) (%)
China South Industries Group Finance Co., Ltd 50,000,000.00 62.50% 100,000,000.00 26.45%
Interest income of deferred payment
Report period Same period of last year
Amount Proportion of similar transactions Amount Proportion of similar transactions
Related parties
(%) (%)
Chongqing Wanyou Economic Technological Development Co., 32,435.89 0.14%
Ltd.
Nanning Wanyou Auto Sales and Service Co., Ltd. 1,198.29 0.01% - -
Chengdu Wanyou Economic Technological Development Co., 631,347.86 2.68% - -
Ltd. Wanyou Xiangyu Auto Sales and Service Co., Ltd. 1,365,111.97 5.79% - -
Yunan Wanyou Auto Sales and Service Co., Ltd. 40,744.44 0.17% - -
Total 2,070,838.45 8.78% - -
- -
Note: “Interest income of deferred payment” in same period of last year was included in products sold and services provided, which is not listed here.
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Chongqing Changan Automobile Company Limited Semi-annual Report 2015
5、Payment receivables of related parties
Payment receivables of related listed companies
Unit:Yuan
ending balance beginning balance
Items Related parties Provision for Provision for
Book balance Book balance
bad-debts bad-debts
notes Chengdu Wanyou Economic
15,000,000.00 22,000,000.00
receivable Technological Development Co., Ltd
notes Guangxi Wanyou Automobile Sales
43,800,000.00 57,200,000.00
receivable and Service Co., Ltd
notes Guizhou Wanyou Automobile Sales
- 7,500,000.00
receivable and Service Co., Ltd
notes Nanning Wanyou Automobile Sales
60,000,000.00 60,600,000.00
receivable and Service Co., Ltd
notes Wanyou Automobile Investment Co.,
1,910,500,000.00 1,933,900,000.00
receivable Ltd.
notes Yunnan Wanyou Automobile Sales and
121,000,000.00 519,000,000.00
receivable Service Co., Ltd
notes China Changan automobile group
47,000,000.00 55,000,000.00
receivable Tianjin Sales Co., Ltd
notes Chongqing Wanyou Economic
- 153,700,000.00
receivable Development Co., Ltd
notes Chongqing Changan Industries Group
- 2,402,062.50
receivable Co. Ltd
notes Chongqing Changan Min Sheng
770,000.00 4,000,000.00
receivable Logistics Co., Ltd.
notes Chongqing Wanyou Longrui
3,000,000.00 -
receivable Automobile Sales and Service Co., Ltd
Total 2,201,070,000.00 2,815,302,062.50
account Harbin Dongan Automotive Engine
35,350,284.89 34,732,286.33
receivable Manufacturing Co., Ltd.
account
Jiangling Holding Co., Ltd 5,085,274.41 6,525,274.41
receivable
account
Changan PSA Automobile Co., Ltd. 4,333,812.46 13,541,028.82
receivable
account
Changan Ford Mazda Engine Co., Ltd. - 5,923,814.08
receivable
117
Chongqing Changan Automobile Company Limited Semi-annual Report 2015
account
Changan Ford Automobile Co., Ltd. 58,877,966.43 38,840,411.42
receivable
account
Changan Mazda Automobile Co., Ltd. - 10,426,339.17
receivable
account
United Prosperity Investment Co., Ltd 3,982,398.16 10,856,165.22
receivable
account Chongqing Changan Industries Group
1,454,821.38 1,825,968.36
receivable Co. Ltd
account Chongqing Changan Kuayue
4,138,272.00 5,758,272.00
receivable Automobile Co., Ltd
account
Changan Suzuki Automobile Co., Ltd. 89,152,536.90 7,301,911.32
receivable
account Chengdu Wanyou Economic
- 1,043.72
receivable Technological Development Co., Ltd
Total 202,375,366.63 135,732,514.85
Other
Chongqing Changan Min Sheng
account 197,281.06 181,042.41
Logistics Co., Ltd.
receivable
Other
China South Industry Group Finance
account 351,138.22 -
Co., Ltd
receivable
Total 548,419.28 181,042.41
China Changan Automobile Group Co.,
advanced
Ltd. Chongqing Qingshan Transmission - 17,532.12
payment
Branch
advanced Chongqing Changan Suzuki
293,769.25 280,209.25
payment Automobile Co., Ltd
Total 293,769.25 297,741.37
Unit: Yuan
Items Related parties Ending Beginning
notes
Changan Ford Automobile Co., Ltd. 28,652,171.54 -
payable
notes
CDGM Tanaka Environmental Catalyst Co,. Ltd 4,760,000.00 860,000.00
payable
notes
Chengdu Huachuan Electric Equipment Co., Ltd 1,940,000.00 85,650,000.00
payable
notes Chengdu Jialing Huaxi Optical & Precision Machinery Co., 1,920,000.00 1,110,000.00
118
Chongqing Changan Automobile Company Limited Semi-annual Report 2015
payable Ltd
notes
Chengdu Lingchuan Vehicle Oil Tank Co., Ltd 29,160,000.00 26,520,000.00
payable
notes
Chengdu Lingchuan Special Industry Co., Ltd 200,000.00 3,860,000.00
payable
notes
Chengdu NingXing Automobile Spring Co., Ltd. 4,230,000.00 4,430,000.00
payable
notes
Chengdu Wanyou Filter Co., Ltd 34,580,000.00 47,110,000.00
payable
notes
Harbin Dongan Automotive Engine Co., Ltd. 111,100,000.00 51,700,000.00
payable
notes
Harbin Dongan Automotive Engine Manufacturing Co., Ltd. 564,790,000.00 247,700,000.00
payable
notes
Hafei Motor Co., Ltd. 328,560,000.00 464,660,000.00
payable
notes
Hubei Xiaogan Huazhong Automobile Light Co., Ltd 25,670,000.00 26,520,000.00
payable
notes
Csgc Trw Chassis Systems Co.,Ltd. 202,660,000.00 197,690,000.00
payable
notes
South Inter Air-conditioner Co, .Ltd 94,940,000.00 66,670,000.00
payable
notes
Sichuan Hongguang Machinery and Electrics Co., Ltd 10,660,000.00 16,660,000.00
payable
notes
Sichuan Ningjiang Shanchuan Machinery Co, Ltd 6,750,000.00 19,020,000.00
payable
notes Sichuan Ningjiang Shanchuan Machinery Co, Ltd Longchang
25,110,000.00 20,210,000.00
payable Shock Absorber Branch
notes
Yunnan Xiyi Industries Co., Ltd 42,020,000.00 50,760,000.00
payable
notes China Changan Automobile Group Co., Ltd. Chengdu Jian'an
- 580,000.00
payable Axle Branch
notes
Chongqing Djiang Xinda Automobile Co.,Ltd. 31,750,000.00 26,860,000.00
payable
notes
Chongqing Jianshe Automotive Air-conditioner Co., Ltd 114,170,000.00 87,910,000.00
payable
notes
Chongqing Shangfang Automotive Parts Co., Ltd 11,500,000.00 30,440,000.00
payable
notes Chongqing Changan Property Management Co., Ltd. 690,000.00 1,280,000.00
119
Chongqing Changan Automobile Company Limited Semi-annual Report 2015
payable
notes
Chongqing Wanyou Engineering Installation Co., Ltd 4,284,575.00 3,286,323.00
payable
notes
Chongqing Xiyi Automobile Linkage Rod Co., Ltd. 4,840,000.00 7,490,000.00
payable
notes
Chongqing Yihong Engineering Plastic Products Co., Ltd - 9,190,000.00
payable
notes
Chongqing Changan Industries Group Co. Ltd 1,328,682.00 1,684,437.30
payable
notes
Chongqing Changan Construction Co., Ltd 62,643,575.00 44,749,050.70
payable
notes
Chongqing Changan Min Sheng Logistics Co., Ltd. 3,416,079.00 2,163,387.00
payable
notes
Chongqing Changrong Machinery Co., Ltd 10,830,000.00 14,680,000.00
payable
notes
Chongqing Dajiang Jiexin Forging Co., Ltd 1,900,000.00 -
payable
Total 1,765,055,082.54 1,561,443,198.00
account
Beijing Beiji Mechanical and Electrical Industry Co., Ltd - 135,480.50
payable
account
CDGM Tanaka Environmental Catalyst Co,. Ltd 1,143,881.76 3,459,532.82
payable
account
Chengdu Huachuan Electric Equipment Co., Ltd 32,525,953.80 8,997,687.52
payable
account Chengdu Jialing Huaxi Optical & Precision Machinery Co.,
686,632.48 695,931.69
payable Ltd
account
Chengdu Lingchuan Vehicle Oil Tank Co., Ltd 24,074,303.06 19,430,898.24
payable
account
Chengdu Lingchuan Special Industry Co., Ltd 1,003,920.66 15,243,707.30
payable
account Chengdu Ningjiang Zhaohe Automobile Components Co.,
13,942,806.64 125,679.59
payable Ltd
account
Chengdu NingXing Automobile Spring Co., Ltd. 2,207,935.84 3,164,034.29
payable
account Chengdu Wanyou Economic Technological Development
- 10,589.08
payable Co., Ltd
account
Chengdu Wanyou Filter Co., Ltd 31,024,825.36 20,513,534.18
payable
120
Chongqing Changan Automobile Company Limited Semi-annual Report 2015
account
Chengdu Wanyou Trading Co., Ltd - 568.89
payable
account
Chengdu Wanyou Xiangyu Auto Sales and Service Co., Ltd - 21,844.49
payable
account
Guangxi Wanyou Automobile Sales and Service Co., Ltd - 24,727.51
payable
account
Guizhou Wanyou Automobile Sales and Service Co., Ltd - 225,194.03
payable
account
Harbin Dongan Automotive Engine Co., Ltd. 83,166,920.32 37,836,046.69
payable
account
Harbin Dongan Automotive Engine Manufacturing Co., Ltd. 177,344,600.15 219,176,454.82
payable
account
Hafei Motor Co., Ltd. 21,816,182.05 231,401,070.28
payable
account
Hubei Xiaogan Huazhong Automobile Light Co., Ltd 17,175,434.79 33,857,713.97
payable
account
Csgc Trw Chassis Systems Co.,Ltd. 105,100,707.41 124,362,361.53
payable
account
South Inter Air-conditioner Co, .Ltd 53,631,175.54 85,699,120.04
payable
account
Nanning Wanyou Automobile Sales and Service Co., Ltd - 6,664.63
payable
account
Sichuan Hongguang Machinery and Electrics Co., Ltd 869,170.17 6,309,820.98
payable
account
Sichuan Ningjiang Shanchuan Machinery Co, Ltd 9,942,334.69 3,886,641.32
payable
account Sichuan Ningjiang Shanchuan Machinery Co, Ltd Longchang
13,995,875.71 16,076,620.75
payable Shock Absorber Branch
account
Yunnan Wanyou Automobile Sales and Service Co., Ltd - 295,982.89
payable
account
Yunnan Xiyi Industries Co., Ltd 14,945,640.85 1,690,738.76
payable
account
Changan Ford Automobile Co., Ltd. 4,981,530.19 9,270,810.87
payable
account China Changan Automobile Group Co., Ltd. Chengdu Jian'an
112,277.38 1,847,863.97
payable Axle Branch
account China Changan Automobile Group Co., Ltd. Sichuan Jian'an
148,105,802.56 119,241,308.69
payable Axle Branch
121
Chongqing Changan Automobile Company Limited Semi-annual Report 2015
account China Changan Automobile Group Co., Ltd. Chongqing
30,883,581.60 119,749,504.60
payable Qingshan Transmission Branch
account
Chongqing Dajiang Jiexin Forging Co., Ltd 1,667,226.82 2,349,986.93
payable
account
Chongqing Djiang Xinda Automobile Co.,Ltd. 23,002,743.21 23,832,720.53
payable
account
Chongqing Dajiang Yuqiang Plastic Co., Ltd 125,835.73 119,814.74
payable
account
Chongqing Jialing Yimin Special Equipment Co., Ltd. 251,976.36 362,102.19
payable
account
Chongqing Jianshe Automotive Air-conditioner Co., Ltd 34,610,116.28 37,810,978.41
payable
account
Chongqing Automotive Air-conditioner Co., Ltd 205,041.51 205,041.51
payable
account
Chongqing Shangfang Automotive Parts Co., Ltd 16,824,844.69 17,173,815.05
payable
account
Chongqing Qingshan Transmission Sales Co., Ltd 4,432,655.84 4,630,437.00
payable
account
Chongqing Wanyou Economic Development Co., Ltd 12,251,303.70 15,705,418.84
payable
account
Chongqing Xiyi Automobile Linkage Rod Co., Ltd. 1,535,239.70 2,828,606.92
payable
account
Chongqing Yihong Engineering Plastic Products Co., Ltd 3,726,892.66 3,947,802.82
payable
account
Chongqing Changan Industries Group Co. Ltd 2,282,033.41 347,476.12
payable
account
Chongqing Changan Kuayue Automobile Co., Ltd 1,382.56 77,208.01
payable
account
Chongqing Changan Min Sheng Logistics Co., Ltd. 25,088,300.64 63,190,489.33
payable
account Chongqing Changan Visteon Engine Control Systems Co.,
429,927.09 1,459,824.16
payable Ltd.
account
Chongqing Changfeng Jiquan Machinery Co., Ltd 8,108,637.59 4,909,024.51
payable
account
Chongqing Changrong Machinery Co., Ltd 8,279,561.85 8,962,364.46
payable
account
Chongqing Changan Suzuki Automobile Co., Ltd 303,196,908.77 -
payable
122
Chongqing Changan Automobile Company Limited Semi-annual Report 2015
account
Tenneco Lingchuan (Chongqing) Exhaust Sysytem Co., Ltd. 12,735,268.42 -
payable
account
Chongqing Changan Property Management Co., Ltd. 197,480.00 -
payable
Subtotal 1,247,634,869.84 1,270,671,246.45
advance
Changan Mazda Automobile Co., Ltd 6,863,660.83 -
receipts
advance
Changan Ford Mazda Engine Co., Ltd 3,256,185.92 -
receipts
advance
Chongqing Changan Min Sheng Logistics Co., Ltd. 360,625.68 361,998.32
receipts
advance
South Inter Air-conditioner Co, .Ltd 4,991.00 -
receipts
advance
Hafei Automobile Co., Ltd. 670,500.00 -
receipts
advance
China Changan Automobile Group Tianjin Sales Co., Ltd 4,758,132.00 9,923,044.00
receipts
advance
Wanyou Automobile Investment Co., Ltd. 24,061,437.00 60,787,767.00
receipts
advance
Chongqing Wanyou Economic Development Co., Ltd 23,998,458.87 224,012,279.88
receipts
advance
United Prosperity Investment Co., Ltd - 4,343,194.69
receipts
advance Chongqing Wanyou Longrui Automobile Sales and Service
770,294.26 1,890.04
receipts Co., Ltd
advance
Guangxi Wanyou Automobile Sales and Service Co., Ltd 7,561,870.06 12,826,075.48
receipts
advance
Nanning Wanyou Automobile Sales and Service Co., Ltd 8,498,555.87 12,102,977.87
receipts
advance Chengdu Wanyou Economic Technological Development
8,649,566.56 45,908,401.66
receipts Co., Ltd
advance Chengdu Wanyou Xiangyu Automobile Sales and Service
57,045,627.07 124,492,768.07
receipts Co., Ltd
advance
Yunnan Wanyou Automobile Sales and Service Co., Ltd 6,845,245.39 97,055,869.67
receipts
advance
Guizhou Wanyou Automobile Sales and Service Co., Ltd 11,514,224.20 92,748,342.34
receipts
advance Yunnan Xiangyu Automobile Sales and Service Co., Ltd 1,021,784.00 5,616,867.00
123
Chongqing Changan Automobile Company Limited Semi-annual Report 2015
receipts
advance
Harbin Dongan Automotive Engine Co., Ltd. - 44.94
receipts
advance
Chengdu Wanyou Trading Co., Ltd - 38,295.50
receipts
Subtotal 165,881,158.71 690,219,816.45
other Chengdu Wanyou Economic Technological Development
150,000.00 151,537.60
payables Co., Ltd
other
Chengdu Wanyou Filter Co., Ltd - 120,000.00
payables
other Chengdu Wanyou Xiangyu Automobile Sales and Service
- 82,651.45
payables Co., Ltd
other
Guangxi Wanyou Automobile Sales and Service Co., Ltd 237,355.96 100,000.00
payables
other
Guizhou Wanyou Automobile Sales and Service Co., Ltd 341,193.10 100,000.00
payables
other
Hafei Automobile Co., Ltd. 4,465,774.68 1,892,739.54
payables
other
Yunnan Wanyou Automobile Sales and Service Co., Ltd 258,093.68 224,025.84
payables
other China Changan Automobile Group Sichuan Jian'an Axle
- 1,000.00
payables Branch
other
United Prosperity Investment Co., Ltd - 192,977,320.11
payables
other
Chongqing Changan Property Management Co., Ltd. 443,892.70 793,985.65
payables
other
Chongqing Wanyou Engineering Installation Co., Ltd 553,194.00 870,654.00
payables
other
Chongqing Wanyou Economic Development Co., Ltd 100,000.00 253,841.75
payables
other
Chongqing Changan Real Estate Development Co., Ltd 403,483.00 250,690.60
payables
other
Chongqing Changan Industries Group Co. Ltd 31,086,076.13 14,260,455.80
payables
other
Chongqing Changan Construction Co., Ltd 4,534,326.60 8,113,625.16
payables
other
Chongqing Changan Min Sheng Logistics Co., Ltd. 235,381,609.54 233,978,891.80
payables
124
Chongqing Changan Automobile Company Limited Semi-annual Report 2015
Subtotal 277,954,999.39 454,171,419.30
XIII、Commitments and Contingencies
1、Significant commitments
Investment commitment
By June 30th 2015, the group has no investment commitment that has been signed but not yet fully fulfilled.
2、Contingencies
By June 30th 2015, the company has no significant contingencies that need to be published.
XIV、Events after the balance sheet date
1、 significant non-adjusting events
□Applicable √not Applicable
2、 Distribution of profit
□Applicable √not Applicable
3、 Sales return
□Applicable √not Applicable
XV、Other important events
1、Correction of accounting error of earlier stage
□Applicable √not Applicable
2、Debt restructuring
□Applicable √not Applicable
3、Asset replacement
□Applicable √not Applicable
4、Annuity plan
□Applicable √not Applicable
5、Discontinuing operation
□Applicable √not Applicable
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Chongqing Changan Automobile Company Limited Semi-annual Report 2015
6、Information on business branch
Identify business branch of the group according to internal organization structure, management requirements, internal reporting
rules, and identify the report and information disclosed of the brand based on the identified branch.
business branch refers to the component of the group that meets the following conditions:
(1) the component has income and expenditure incurred in routine activities;
(2) the management of the company regularly evaluates the operation performance of the component to decide the company’s
resource distribution and evaluate its overall performance
(3) The group receives related accounting information on the financial situation, operation performance and cash flow.
If two or more components have similar economic features and meet the conditions, they should be consolidated into one
branch.
Income and profit of the group consists of automobile manufacturing and domestic sales. Main asset of the group is in China.
The management of the group evaluates the performance of the group as a whole. Thus, report of the branch is not included in this
year’s report.
XVI、Notes to the main items of the parent company’s financial statements
1、Account Receivables
（1）Account Receivables
Ending Beginning
Items book balance provision for bad-debts book balance provision for bad-debts
amount (%) amount (%) amount (%) amount (%)
Individually significant
amount and account
138,253,963.58 3.39 - 45,088,295.09 1.61 - -
receivables of individually -
provision for bad debts
Account receivables of provision for bad-debts calculated and extracted by groups
Group 1: account
receivables of provision
for bad-debts calculated 286,983,049.84 7.03 42,347,813.67 14.76 277,846,638.96 9.91 42,238,460.64 15.20
and extracted by aging
analysis
Group 2: Account
receivables for related 3,658,631,889.65 89.59 - - 2,481,213,357.81 88.48 - -
parties
Group subtotal 3,945,614,939.49 96.61 42,347,813.67 1.07 2,759,059,996.77 98.39 42,238,460.64 1.53
Total 4,083,868,903.07 -- 42,347,813.67 -- 2,804,148,291.86 -- 42,238,460.64 --
Types of account receivables
126
Chongqing Changan Automobile Company Limited Semi-annual Report 2015
Within groups, account receivables of provision for bad-debts are calculated and extracted by aging analysis
□Applicable √not Applicable
ending beginning
account
book balance provision for book balance provision for
receivable age
account (%) bad-debts account (%) bad-debts
within 1 year
Including -- -- -- -- -- --
0- 6 months 241,847,367.61 84.27 - 232,145,184.96 83.55 -
6 to 12 months 65,451.00 0.02 3,272.55 3,720.00 - 186
Within 1 year
241,912,818.61 84.30 3,272.55 232,148,904.96 83.55 186
subtotal
1 to 2 years 7,014.00 0.00 701.40 - - -
2 to 3 years 1,900,100.00 0.66 570,030.00 2,034,616.77 0.73 610,385.03
3 to 4 years - - - - - -
4 to 5 years 6,946,537.55 2.42 5,557,230.04 10,176,138.11 3.66 8,140,910.49
Over 5 years 36,216,579.68 12.62 36,216,579.68 33,486,979.12 12.05 33,486,979.12
Total 286,983,049.84 -- 42,347,813.67 277,846,638.96 -- 42,238,460.64
Within groups, account receivables of provision for bad-debts are calculated and extracted by balance percentage
□Applicable √not Applicable
（2）Top 5 amount in account receivables
Unit:Yuan
relationship with
proportion of total account
Companies Changan amount years
receivables (%)
Automobile
Nanjing Changan Automobile Co., Ltd. subsidiary 1,667,643,256.23 Within 1 year 41.26
subsidiary
Hefei Changan Automobile Co., Ltd. 517,150,734.49 12.80
Within 1 year
Hebei Changan Automobile Co., Ltd. subsidiary 470,234,971.03 Within 1 year 11.64
Chongqing Changan Automobile subsidiary
417,377,253.89 Within 1 year 10.33
International Sales Service Co., Ltd.
Baoding Changan Bus Manufacturing subsidiary
138,032,276.37 Within 1 year 3.42
Co., Ltd.
Total -- 3,210,438,492.01 -- 79.44
127
Chongqing Changan Automobile Company Limited Semi-annual Report 2015
（3）Account receivables of related parties
Unit:Yuan
proportion of total
relationship with Changan
Companies amount account receivables
Automobile
(%)
Baoding Changan Bus Manufacturing Co., Ltd. subsidiary 138,032,276.37 3.42
Changan Automobile Group Co., Ltd. - Harbin subsidiary
872,732.96 0.02
Sales Branch
Hefei Changan Automobile Co., Ltd subsidiary 517,150,734.49 12.80
Hebei Changan Automobile Co., Ltd. subsidiary 470,234,971.03 11.64
Heilongjiang Changan Automobile Sales Co., Ltd. subsidiary 119,318,751.99 2.95
Liaoning Changan Automobile Sales Co., Ltd. subsidiary 7,372,369.23 0.18
Nanjing Changan Automobile Co., Ltd. subsidiary 1,678,317,704.08 41.53
Xinjiang Changan Automobile Sales Co., Ltd. subsidiary 64,320,285.39 1.59
Yingchuan Changan Automobile Sales Co., Ltd. subsidiary 2,056,841.28 0.05
Chongqing Changan International Automobile Sales subsidiary
422,334,871.89 10.45
and Service Co., Ltd
Chongqing Changan Special Automobile sales Co., subsidiary
14,055,000.80 0.35
Ltd
Changan PSA Automobile Co., Ltd joint venturejoint venture 1,410,203.96 0.03
Changan Ford Automobile Co., Ltd joint venturejoint venture 59,457,096.57 1.47
Harbin Dongan Automotive Engine Manufaturing controlled by the same
35,350,284.89 0.87
Co., Ltd. parent company
Jiangling Holding Co., Ltd joint venturejoint venture 5,463,207.59 0.14
controlled by the same
Chongqing Changan Industries Group Co. Ltd 1,454,840.88 0.04
ultimate holding company
Chongqing Changan Kuayue Automobile Co., Ltd Associated Enterprise 4,138,272.00 0.10
Chongqing Changan Suzuki Automobile Co., Ltd joint venturejoint venture 91,983,421.90 2.28
Chongqing Changan Automobile Customer Service
subsidiary 25,308,022.35 0.63
Co., Ltd.
Total -- 3,658,631,889.65 90.53
128
Chongqing Changan Automobile Company Limited Semi-annual Report 2015
2、Other receivables
（1）Other receivables
ending beginning
provision for provision for
Items book balance book balance
bad-debts bad-debts
Amount (%) Amount (%) Amount (%) Amount (%)
Individually significant
amount and account
270,136,000.00 52.03 - - 123,832,000.00 18.48 - -
receivables of individually
provision for bad debts
Account receivables of provision for bad-debts calculated and extracted by groups
Group 1: account receivables
of provision for bad-debts
87,971,717.81 16.94 2,108,381.18 2.40 81,576,371.15 12.17 1,976,498.02 2.42
calculated and extracted by
aging analysis
Group 2: Account receivables
of provision for bad-debts
161,069,996.76 31.02 0.00 0.00 464,727,983.71 69.35 - -
calculated and extracted by
related parties
Group subtotal 249,041,714.57 47.97 2,108,381.18 0.85 546,304,354.86 81.52 1,976,498.02 0.36
no Individually significant
amount but other receivables
of individually provision
for bad debts
Total 519,177,714.57 -- 2,108,381.18 -- 670,136,354.86 -- 1,976,498.02 --
Types of the account receivables
account receivables of provision for bad-debts are calculated and extracted by aging analysis
□Applicable √not Applicable
ending beginning
account
book balance provision for book balance provision for
receivable Age
amount (%) bad-debts amount (%) bad-debts
Within 1 year
Among： -- -- -- -- -- --
0-6 months 82,042,463.58 93.26 - 77,276,646.60 94.73 -
129
Chongqing Changan Automobile Company Limited Semi-annual Report 2015
6 to 12 months 2,841,049.17 3.22 142,052.46 370,404.77 0.45 18,520.24
Within 1 year
subtotal 84,883,512.75 96.49 142,052.46 77,647,051.37 95.18 18,520.24
1 to 2 years 955,043.05 1.09 95,504.31 1,876,797.77 2.30 187,679.78
2 to 3 years 145,640.00 0.17 43,692.00 65,000.00 0.08 19,500.00
3 to 4 years - - - 254,448.01 0.31 127,224.01
4 to 5 years 801,948.01 0.91 641,558.41 547,500.00 0.67 438,000.00
Over 5 years 1,185,574.00 1.35 1,185,574.00 1,185,574.00 1.45 1,185,573.99
Total 87,971,717.81 -- 2,108,381.18 81,576,371.15 -- 1,976,498.02
Within groups, account receivables of provision for bad-debts are calculated and extracted by balance percentage.
□Applicable √not Applicable
（2）Other account receivables of related parties
Unit:Yuan
relationship with Changan Proportion of total account
Companies amount
Automobile receivables (%)
Changan Automobile Russia Co., Ltd. subsidiary 24,782,800.00 4.79
Nanjing Changan Automobile Co., Ltd. subsidiary 30,672,403.25 5.93
joint venturejoint
Chongqing Changan Suzuki Automobile Co., Ltd venture 84,948,803.83 16.43
Hebei Changan Automobile Co., Ltd. subsidiary 6,672,950.02 1.29
Chongqing Changan International Automobile subsidiary
Sales and Service Co., Ltd 12,379,176.86 2.39
Chongqing Changan Automobile Customer subsidiary
Service Co., Ltd. 1,106,248.48 0.21
Changan Brazil Holding Co., Ltd subsidiary 422,965.76 0.08
Chongqing Changan Min Sheng Logistics Co., subordinate company
Ltd. of Changan Industries 84,648.56 0.02
合计 Total -- 161,069,996.76 31.15
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Chongqing Changan Automobile Company Limited Semi-annual Report 2015
3、Long-term equity investment
Unit:Yuan
impair
Explanation for the
Share Voting ment
Accou difference between Impa
beginning proportion in proportion in provisi cash bonus in
Invested in nting capitalized cost increase/decrease ending amount shareholding irme
amount the company the company on in current period
method percentage and nt
invested (%) invested (%) current
voting percentage
period
1、Joint ventures
Chongqing Changan Suzuki
Equity 237,719,933.33 1,408,273,674.47 -25,628,626.69 1,382,645,047.78 50 50 Nothing
Automobile Co., Ltd
Jiangling Holding Co., Ltd Equity 1,008,511,522.00 2,334,057,207.68 181,388,135.45 2,515,445,343.13 50 50 Nothing
Changan Ford Automobile Equity
975,232,926.29 4,617,363,993.97 923,128,890.36 5,540,492,884.33 50 50 Nothing 3,450,000,000.00
Co., Ltd
Changan Mazda Automobile Equity
1,097,839,635.00 1,672,590,730.82 414,989,302.22 2,087,580,033.04 50 50 Nothing
Co., Ltd
Changan Ford Mazda Engine Equity
786,734,634.10 720,178,224.15 80,216,151.05 800,394,375.20 50 50 Nothing
Co., Ltd
Changan PSA Automobile Equity
2,007,841,700.00 1,795,746,892.81 -117,857,515.40 1,677,889,377.41 50 50 Nothing
Co., Ltd
2、Associated Enterprises
Chongqing Xiyi Automobile Equity
7,600,027.62 9,220,184.59 -392,641.56 8,827,543.03 40 40 Nothing
Linkage Rod Co., Ltd
Chongqing Changan Kuayue Equity 61,800,885.00 66,558,691.97 4,886,884.01 71,445,575.98 34.3 34.3 Nothing
131
Chongqing Changan Automobile Company Limited Semi-annual Report 2015
Automobile Co., Ltd
Chongqing Changan Kuayue Equity
1.00 - - - 34.3 34.3 Nothing
Automobile Sales Co., Ltd
Beijing Fang’an taxi Co., Equity
6,000,000.00 - - - 42.25 42.25 Nothing
Ltd
3、Subsidiaries
Cost minority
shareholders
Nanjing Changan
422,183,259.00 422,533,259.00 - 422,533,259.00 84.73 91.53 authorize the
Automobile Co., Ltd
company to exercise
voting right
Cost minority
shareholders
Hebei Changan Automobile
438,573,236.00 438,223,236.00 - 438,223,236.00 94.22 95.62 authorize the
Co., Ltd
company to exercise
voting right
Chongqing Changan Cost
International Automobile 13,068,580.00 13,068,580.00 - 13,068,580.00 95 95 Nothing
Sales and Service Co., Ltd
Chongqing Changan Cost
Automobile Customer 29,700,000.00 29,700,000.00 - 29,700,000.00 99 99 Nothing
Service Co., Ltd.
Chongqing Changan Cost
48,500,000.00 48,500,000.00 - 48,500,000.00 100 100 Nothing
Automobile Sales Co., Ltd
Chongqing Changan Cost
8,050,000.00 8,050,000.00 - 8,050,000.00 90-100.00 90-100.00 Nothing
Automobile Sales Branch
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Chongqing Changan Automobile Company Limited Semi-annual Report 2015
Chongqing Changan Special Cost
2,500,000.00 2,500,000.00 - 2,500,000.00 50 50 Nothing
Automobile Sales Co., Ltd
Chongqing Changan Europe Cost
134,879,700.00 134,879,700.00 - 134,879,700.00 100 100 Nothing
Design Center Co., Ltd
Chongqing Changan new Cost
18,850,000.00 18,850,000.00 - 18,850,000.00 65 65 Nothing
Engergy Automobile Co. Ltd
Changan United Kingdom Cost
981,934.40 981,934.40 - 981,934.40 100 100 Nothing
R&D Center Co., Ltd.
Beijing Changan Automotive Cost
engineering and Technology 1,000,000.00 1,000,000.00 - 1,000,000.00 100 100 Nothing
Reseach Co., Ltd.
Changan Automotive Cost Nothing
Technology Reseach Co., 1,000,000.00 1,000,000.00 - 1,000,000.00 100 100
Ltd.
Shanghai Changan Cost Nothing
Automotive Engineering and 1,000,000.00 1,000,000.00 - 1,000,000.00 100 100
Technology Co., Ltd.
Changan Japan Design Cost Nothing
1,396,370.15 1,396,370.15 - 1,396,370.15 100 100
Center Co., Ltd.
Changan United States R&D Cost Nothing
1,317,720.00 1,317,720.00 - 1,317,720.00 100 100
Center Co., Ltd.
Baoding Changan Bus Cost Nothing
176,002,613.18 176,002,613.18 - 176,002,613.18 100 100
Manufacturing Co., Ltd.
Hefei Changan Automobile Cost Nothing
35,367,765.23 35,367,765.23 - 35,367,765.23 100 100
Co., Ltd
Changan Automobile Russia Cost 1,242,589.15 1,242,589.15 - 1,242,589.15 100 100 Nothing
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Chongqing Changan Automobile Company Limited Semi-annual Report 2015
Co., Ltd.
Changan Brazil Holding Co., Cost
2,161,591.21 2,161,591.21 - 2,161,591.21 100 100 Nothing
Ltd
Total -- 7,527,056,622.66 13,961,764,958.78 1,460,730,579.44 15,422,495,538.22 -- -- -- 3,450,000,000.00
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Chongqing Changan Automobile Company Limited Semi-annual Report 2015
4、Operating revenue and cost
（1）Operating revenue
Items current amount prior-period amount
main business income 31,903,220,159.67 23,528,685,730.58
other business income 612,593,697.38 634,087,777.22
Total 32,515,813,857.05 24,162,773,507.80
operating cost 27,233,358,002.09 20,396,414,542.63
（2）Main business (classified by industries)
current amount prior-period amount
Industries
revenue cost revenue cost
Automobile manufacturing
industry 31,903,220,159.67 26,933,368,580.98 23,528,685,730.58 19,985,969,177.07
Total 31,903,220,159.67 26,933,368,580.98 23,528,685,730.58 19,985,969,177.07
（3）Main business (classified by products)
current amount prior-period amount
Products
revenue cost revenue cost
Sales of goods 31,813,014,586.63 26,867,276,390.33 23,419,445,947.12 19,884,481,835.46
Outsourcing processing 90,205,573.04 66,092,190.65 109,239,783.46 101,487,341.61
Total 31,903,220,159.67 26,933,368,580.98 23,528,685,730.58 19,985,969,177.07
（4）Revenue from top 5 customers
Unit:Yuan
customers total revenue proportion of total revenue (%)
Chongqing Wanyou Economic Development Co.,
953,847,983.58 2.93
Ltd
Beijing Qingchangfeng Commerce and Trade
816,890,394.63 2.51
Co., Ltd.
Chengdu Wanyou Xiangyu Automobile Sales and 784,322,411.34 2.41
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Chongqing Changan Automobile Company Limited Semi-annual Report 2015
Service Co., Ltd
Beijing Xinxing Kuaima Automobile Service
652,621,806.31 2.01
Co., Ltd.
Hebei Changan Automobile Co., Ltd 581,486,794.08 1.79
Total 3,789,169,389.94 11.65
5、Investment income
（1）Details of investment income
Items current amount prior-period amount
Long-term equity investment income measured by cost
method
Long-term equity investment income measured by equity
4,910,730,579.44 3,998,756,500.66
method
investment income from long -term equity investment
- -
disposition
investment income from financial assets available for sale 52,219,215.31 31,252,435.46
others - 5,825,000.00
Total 4,962,949,794.75 4,035,833,936.12
（2）Long-term equity investment income measured by cost accounting method
invested in current amount prior-period amount reasons for increasing or decreasing
China South Industry Group Finance Co.,
52,219,215.31 31,252,435.46 dividends
Ltd
Total 52,219,215.31 31,252,435.46 --
（3）Long-term equity investment income measured by equity accounting method
invested in current amount prior-period amount reasons for increasing or decreasing
Production and sales scale increase,
Changan Ford Automobile Co., Ltd. 4,373,128,890.36 3,683,747,910.02
profit increases
Production and sales scale increase,
Changan Mazda Automobile Co., Ltd. 414,989,302.22 202,241,113.72
profit increases
136
Chongqing Changan Automobile Company Limited Semi-annual Report 2015
Production and sales scale decrease,
Changan Suzuki Automobile Co., Ltd. -25,628,626.69 6,113,593.00
profit losses
Production and sales scale increase,
Changan Ford Mazda Engine Co., Ltd. 80,216,151.05 58,684,552.90
profit increases
investment income of JMC decrease,
181,388,135.45 211,445,447.83
Jiangling Holding Co., Ltd profit decreases
Chongqing Xiyi Automobile Linkage Rod
-392,641.56 358,331.84
Co., Ltd
Beijing Fang’an taxi Co., Ltd - -998,629.64
Production and sales scale increase,
Changan PSA Automobile Co., Ltd. -117,857,515.40 -161,834,720.95
losses decrease
Chongqing Changan Kuayue Automobile
- -
Sales Co., Ltd.
Chongqing Changan Kuayue Automobile
4,886,884.01 -1,001,098.06
Co., Ltd
Total 4,910,730,579.44 3,998,756,500.66 --
6、Supplementary information of cash flow statement
Supplementary information Current amount Prior-period amount
1．Cash flow relating to operating activities calculated by adjusting -- --
the net profit
net profit 5,062,882,215.07 3,735,552,301.87
add: provision for assets impairment 131,306,302.80 37,227,690.27
Depreciation of fixed assets, oil and gas assets, productive biological 735,935,775.85 606,875,351.81
assets
amortization of intangible assets 197,223,598.35 151,141,629.25
amortization of long-term deferred expense 90,040.00 90,040.00
Disposal loss/(income) on fixed assets, intangible assets and others -66,813,978.44 -866,971.80
long-term assets(with “-” for gains)
Loss on discarding of fixed assets(with “-” for gains) - -
-
Loss from fair value changes (with “-” for gains)
-
Financial expense(with “-” for gains) -63,610,178.21 79,080,657.88
Investment loss(with “-” for gains) -4,962,949,794.75 -4,035,833,936.12
Decrease in deferred tax assets(with “-” for gains) -206,462,867.15 -104,265,222.37
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Chongqing Changan Automobile Company Limited Semi-annual Report 2015
increase in deferred income tax assets (with "-" for decrease) - -
Decrease in inventory(with “-” for gains) -990,630,653.16 -1,461,580,137.58
decrease of operational receivables (with "-" for increase) -907,826,328.68 -2,085,846,991.68
increase of operational payables (with "-" for decrease) 7,294,362,846.82 6,459,157,592.98
others - -
net cash flow from operating activities 6,223,506,978.50 3,380,732,004.51
2． major investment and financing activities involving no cash -- --
incomings / outgoings
3． net change in cash and cash equivalent -- --
ending balance of cash 12,767,290,886.88 6,382,965,855.51
Less: beginning balance of cash 8,828,152,864.35 3,290,584,684.00
Net increase in cash and cash equivalents 3,939,138,022.53 3,092,381,171.51
XVII、Additional information
1、 Non-recurring profit and loss statement of current period
Items amount explanation
profit and loss of non-current assets disposition -2,376,011.85
government subsidies counted in current profit and loss (except the
government subsidies which are closely related with business events, and 207,987,113.43
given certain amount according to national standards)
net profit and loss of the subsidiary company merged by the same
controlling company from the beginning of report period to date of -
merging.
investment income from disposition of financial assets available for sale -
other non-business incomings and outgoings except above-mentioned
30,693,680.11
items
Less: amount influenced by income tax 38,417,385.55
amount influenced by minority shareholders’ interest (after tax) 2,532,128.70
Total 195,355,267.44 --
If the company identifies non-recurring profit and loss defined by Information Disclosure by Companies Offering Securities to the
Public No. 1--non-recurring profit and loss and non-recurring profit and loss defined by Information Disclosure by Companies
Offering Securities to the Public No. 1--non-recurring profit and loss as recurring profit and loss, explain the reasons.
□ applicable √ not applicable
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Chongqing Changan Automobile Company Limited Semi-annual Report 2015
2、Return on equity and earnings per share
Weighted average return Earnings per share
Profit in report period
on equity Basic EPS Diluted EPS
Net profit belonging to the Company’s common stockholders 18.44% 1.09 1.09
Net profit belonging to the Company’s common stockholders
17.74% 1.05 1.05
after deducting non-recurring profit and loss
3、Accounting data difference by domestic and foreign accouting standards
（1） Net profit and net asset differences from financial statements by global GAAC and prc GAAC
□ applicable √ not applicable
（2） Net profit and net asset differences from financial statements by GAAC abroad and PRC GAAP
□ applicable √ not applicable
（3）Description on accounting data differences by domestic and foreign accounting standards. If auditing
institutions abroad have adjusted the data differences, identify the name of the auditing institution abroad.
None
4、Others
□ applicable √ not applicable
139
Chongqing Changan Automobile Company Limited Semi-annual Report 2015
IX Catalogue of Reference Files
Catalogue of Reference Files
一、semi-annual report with signature of legal representative;
二、financial statements, with the signatures and seals of legal representative, person in charge of accounting, and person in
accounting agency;
三、BOD resolutions and written confirmation documents signed by board members and senior executives;
四、written auditing opinions in form of resolution by the Board of Supervisors;
五、All original copies of company documents and announcements disclosed in China Securities Journal, Securities Time, and
Hong Kong Commercial Daily in reporting period.
The company will provide the the abovementioned reference files timely when required by China Securities Regulatory
Commission and Shenzhen Stock Exchange, and required by shareholders according to law and corporate regulations.
Chairman：Xu Liuping
Submit Date Approved by BOD: August 29, 2015
140
