Share’s 000550 Share’s Jiangling Motors No.： 2018-040
code： 200550 Name： Jiangling B
Jiangling Motors Corporation, Ltd.
Extracts From 2018 Half-year Report
1. Important note
These extracts are extracted from the original of JMC half-year report. To fully
understand the Company’s operating results, financial status and future
development plan, investors should carefully read the original for details in the
website designated by CSRC for publication of JMC’s Half-year Report.
Abnormal opinions from accounting firm for the reporting period
□Applicable √Not Applicable
Proposal on profit distribution and converting capital reserve to share capital
□Applicable √Not Applicable
JMC will not pay dividend in cash or stock, or convert capital reserve to share
capital.
Proposal on profit distribution of preferred shares
□Applicable √Not Applicable
2. Brief introductions
2.1 Company’s information
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 Wan Hong Quan Shi
Contact address No. 509, Northern Yingbin Avenue, Nanchang City,
Jiangxi Province, P.R.C
Telephone 86-791-85266178
Fax 86-791-85232839
E-mail relations@jmc.com.cn
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2.2 Main accounting data and financial ratios
Whether the previous accounting data should be retroactive adjusted?
□Yes √No
Unit: RMB ‘000
Reporting period Same period
(2018 first half) last year Change (%)
Revenue 14,287,497 15,666,476 -8.80
Profit Attributable to the
Equity Holders of the 318,951 552,903 -42.31
Company
Net Cash Generated From
-906,818 -899,401 0.83
Operating Activities
Basic Earnings Per Share
0.370 0.640 -42.31
(RMB)
Diluted Earnings Per Share
0.370 0.640 -42.31
(RMB)
Weighted Average Return on Down 1.64
2.72% 4.36%
Equity Ratio percentage points
At the end of At the end of the Change (%)
reporting period previous year
Total Assets 23,232,394 26,383,761 -11.94
Shareholders’ Equity
Attributable to the Equity 10,615,058 12,572,402 -15.57
Holders of the Company
2.3 Shareholders and shareholding status
Total shareholders (as JMC had 32,528 shareholders, including 27,100 A-share holders, and 5,428 B-share holders.
of June 30, 2018)
Top ten shareholders
Shares due
Shares with
Shareholding Shares at the Change to
Shareholder Name Shareholder Type Trading
Percentage (%) End of Year (+,-) mortgage
Restriction
or frozen
Jiangling Motor State-owned
41.03 354,176,000 0 0 0
Holding Co., Ltd. legal person
Ford Motor Company Foreign legal
32 276,228,394 0 0 0
person
China Securities
Other 2.63 22,743,584 0 0 0
Corporation Limited
Shanghai Automotive State-owned
1.51 13,019,610 0 0 0
Co., Ltd. Legal person
Shanghai Gao Yi Asset
Management Other 1.02 8,800,000 8,800,000 0 0
Partnership (L.P.)
Central Huijin State-owned
0.83 7,186,600 0 0 0
Investment Ltd. legal person
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JPMBLSA RE FTIF
Foreign legal
TEMPLETON CHINA 0.68 5,848,450 0 0 0
person
FUND GTI 5497
Foreign legal
GAOLING FUND, L.P. 0.63 5,439,086 0 0 0
person
INVESCO Foreign legal
0.58 5,035,746 0 0 0
FUNDS SICAV person
TEMPLETON Foreign legal
0.56 4,836,708 0 0 0
DRAGON FUND, INC. person
Notes on association among above-mentioned shareholders None.
2.4 Change of controlling shareholders or actual controlling parties
Change of controlling shareholders
□Applicable √Not Applicable
There was no change of controlling shareholders during the reporting period.
Change of actual controlling parties
□Applicable √Not Applicable
There was no change of actual controlling parties during the reporting period.
2.5 Total shareholders and top ten shareholders holding preferred
shares
□Applicable √Not Applicable
There was no shareholder holding preferred shares during the reporting
period.
2.6 Company Bond
Whether the Company owns the corporate bond that is lists in the securities
exchange and undue or is not paid in full although it’s due?
□Yes √No
3. Management Discussions and Analysis
3.1 Summary
In the first half of 2018, China’s economy keeps steadily growth, and China's
automotive market continues to keep slightly growth. Total sales volume was
14.07 million units, increased 5.57% than 2017 first half.
During the reporting period, to cope with more severe competition, more
stringent regulatory requirement and intensifying cost pressures, the Company
focused on quality improvement, new product development, operating cost
control and production efficiency enhancement. Simultaneously, the Company
introduced series of sales policy to respond the market risk. In the first half of
2018, JMC achieved sales volume of 147,354 units, decreased 4.16%
compared with the same period last year, achieved revenue of RMB 14.287
billion, decreased 8.80% compared with the same period last year, achieved
net profit of RMB 0.319 billion, decreased 42.31% compared with the same
period last year. It mainly reflected the decline of passenger vehicle sales
during the adjustment period and the changes in product mix, the increasing
promotion expenses to cope with the fierce market competition, and the
continuous growing expenditures in new product and technology development.
In the first half, the Company achieved a good start in the field of electrification
transformation. Kairui EV, JMC’s first electric light truck, has driven the
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Company’s strategic alliance with a number of well-known domestic
enterprises on strength of high range, low energy consumption, connectivity
feature, high quality, comfort and safety performance. A total of 5,100 units
Kairui EV order for year 2018 was received short after its launch. The
Company has taken a solid step toward shaping a smart logistics ecosystem.
3.2 Matters related to financial report
1 Explanation on the changes of accounting policy, accounting estimates,
estimation method compared with that of the last accounting period
√Applicable □Not Applicable
The Company adopted IFRS 15 --Revenue from Contracts with Customers
since January 1, 2018. By assessing the effects of applying the new standard
on the Company’s financial statements, no significant impact identified except
for the reclassification from distribution expenses as a deduction of revenue.
No retrospective adjustments are required.
2 Cause and impacts of major accounting errors, and correction result
□Applicable √Not Applicable
3 Explanation on consolidated scope change compared with that of the last
accounting period
√Applicable □Not Applicable
In the reporting period, the newly consolidated subsidiary is Shenzhen Fujiang
NEV Sales Co., Ltd.
Board of Directors
Jiangling Motors Corporation, Ltd.
August 27, 2018
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