Share’s 000550 Share’s Jiangling Motors No.： 2024-015
code： 200550 Name： Jiangling B
Jiangling Motors Corporation, Ltd.
Extracts from 2023 Annual Report
§1 Important Note
These extracts are extracted from the original of annual report. Investors
should carefully read the original in the website designated by CSRC for
details of the Company’s operating results, financial status and future
development plans.
All Directors were present at the Board meeting to review this Annual Report.
Note on abnormal opinions of the Auditor
□Applicable Not Applicable
Proposal on profit distribution or converting capital reserve to share capital
reviewed by the Board of Directors, regarding common stock during the
reporting period
Applicable □Not Applicable
Proposal on converting capital reserve to share capital
□Applicable Not Applicable
The year 2023 profit distribution proposal approved by the Board of Directors
is as follows:
A cash dividend of RMB 6.84 (including tax) will be distributed for every 10
shares held based on the total shares capital of 863,214,000 shares, and there
is no stock dividend. The Board decided not to convert capital reserve to share
capital this time.
Proposal on profit distribution reviewed by the Board of Directors, regarding
preferred stock during the reporting period
□Applicable Not Applicable
§2 Summary
1. Brief introduction
Share’s name Jiangling Motor, Share’s 000550,
Jiangling B code 200550
Place of listing Shenzhen Stock Exchange
Contact persons Board Secretary Securities Affair
and contact details Representative
Name Xu Lanfeng Quan Shi
1
Contact address No. 2111, Yingbin Middle Avenue, Nanchang County,
Nanchang City, Jiangxi Province, P.R.C
Telephone 86-791-85266178
Fax 86-791-85232839
E-mail relations@jmc.com.cn
2. Core business or products in the reporting period
During the reporting period, the Company's main business is the production
and sale of commercial vehicles, SUVs and related components. The main
products include JMC light truck, Pickup, light bus, Ford-branded light bus,
MPV, Pickup and other commercial vehicles and SUV products. JMC also
produces engines, frame, axle, and components. The Company takes high
quality development as the main line, focuses on value, lean operation, and
transforms from scale expansion development to lean value growth.
For 2023, JMC continued to increase its technological reserves and
investment in new products, intelligent connection network, new energy and
lightweighting, and strengthened its digital operation capability to realize the
transformation of “four online”, including “products online” “customers online”
“processes online” and “employees online”. Through digital technology, the
Company improved operational efficiency, optimize business processes and
innovative business models, and focused on customer-centered integration of
the whole value chain. Meanwhile, JMC actively expanded its capacity
operation and used car business, integrated intelligent technology into its
service system, and gradually formed a customer-centered commercial vehicle
ecosystem to focus the entire life cycle of automobiles and provided customers
with all-around solutions. JMC actively laid out the RV business and off-road
pickup and modified car market to create unique products and lead the market
trend; at the same time, the Company accelerated the demonstration
operation of mass production of intelligent driving and created industry-leading
automatic driving solutions through close cooperation with its partners.
In 2023, JMC planned the productivity of 330 thousand units and the utilization
rate was 93%.
3. Main accounting data and financial ratios
3.1 Main accounting data and financial ratios in the past three years
Unit: RMB
Change
End of Year 2023 End of Year2022 End of Year 2021
(%)
Total Assets 29,141,187,886 27,468,321,835 6.09% 26,359,084,120
2
Shareholders’
Equity Attributable
to the Equity 10,350,145,738 9,243,817,333 11.97% 8,555,444,589
Holders of the
Company
Change
2023 2022 2021
(%)
Revenue 33,167,325,081 30,100,283,842 10.19% 35,221,306,472
Profit Attributable
to the Equity
1,475,597,266 915,049,168 61.26% 574,165,944
Holders of the
Company
Net Profit
Attributable to
Shareholders of
Listed Company 995,236,837 -229,667,660 533.34% 29,628,811
After Deducting
Non-Recurring
Profit or Loss
Net Cash
Generated From 4,567,539,866 -1,518,573,952 400.78% 1,760,193,010
Operating Activities
Basic Earnings Per
1.71 1.06 61.26% 0.67
Share (RMB)
Diluted Earnings
1.71 1.06 61.26% 0.67
Per Share (RMB)
Weighted Average
Return on Equity 15.06% 10.28% 4.78% 5.87%
Ratio
3.2 Main accounting data quarterly
Unit: RMB
Q1 Q2 Q3 Q4
Revenue 7,525,930,457 7,903,441,852 8,078,772,861 9,659,179,911
Profit Attributable to the
Equity Holders of the 182,746,938 546,640,619 280,065,212 466,144,497
Company
Net Profit Attributable to
Shareholders of Listed
Company After
9,499,494 408,229,717 239,772,243 337,735,383
Deducting
Non-Recurring Profit or
Loss
Net Cash Generated
From Operating -721,527,544 2,378,675,881 758,439,647 2,151,951,882
Activities
3
Whether the above financial indicators or their totals are materially different
from those disclosed in the quarterly reports and half-year report of the
Company
□Yes No
4. Share Capital and Shareholders
4.1 Top ten shareholders
Total shareholders as of JMC had 34,453 shareholders, including 28,740 A-share holders, and 5,713
the end of the reporting B-share holders, as of December 31, 2023
period
Total shareholders as of JMC had 28,302 shareholders, including 22,755 A-share holders, and 5,547
the last month-end prior to B-share holders, as of February 29, 2024.
the disclosure date of the
Report
Top ten shareholders
Shares Shares due
Shareholding Shares at
with to mortgage
Shareholder Name Shareholder Type Percentage the End of
Trading or mark or
(%) Year
Restriction frozen
Nanchang Jiangling State-owned legal
41.03% 354,176,000 0 0
Investment Co., Ltd. person
Foreign legal
Ford Motor Company 32.00% 276,228,394 0 0
person
Hong Kong Securities
Foreign legal
Clearing Company Ltd. 3.96% 34,213,828 0 0
person
(HKSCC)
Shanghai Automotive Co., State-owned legal
1.51% 13,019,610 0 0
Ltd. person
Domestic Natural
Jin Xing 0.87% 7,546,100 0 0
Person
Invesco Great Wall New Domestic
energy industry equity non-State-owned 0.46% 3,984,400 0 0
securities investment fund legal persons
Domestic Natural
Li Yifeng 0.34% 2,930,900 0 0
Person
Domestic Natural
Jin Shiya 0.27% 2,343,512 0 0
Person
Taikang Life Insurance
Domestic
Co., Ltd.- investment linked
non-State-owned 0.27% 2,302,600 0 0
insurance -Industry
legal persons
Configuration
Foreign legal
GAOLING FUND, L.P. 0.21% 1,793,693 0 0
person
Notes on association among above-mentioned shareholders Shareholders holding more than 5% are
not related.
4
Description of Shareholders Participating in Financing and None.
Securities Financing Business
Participation of top ten shareholders in the lending of shares in the refinancing
business
□Applicable Not Applicable
Change in the top ten shareholders from the previous period due to the
refinancing business
□Applicable Not Applicable
4.2 Total shareholders and top ten shareholders holding preferred shares
□Applicable Not Applicable
There was no shareholder holding preferred shares in the reporting period.
4.3 Ownership and control relations between the Company and the actual
controlling parties
SASAC
Nanchang State-owned Assets Supervision
and Administration Committee
39.69% 100%
Chongqing Changan Automobile Co., Ltd. JMCG
50% 50%
Nanchang Jiangling Investment Co., Ltd. Ford Motor Company
41.03% 32%
Jiangling Motors Co., Ltd.
5. Company Bond
□Applicable Not Applicable
§3 Major events
During the reporting period, there was no significant change in JMC's business
situation.
5
