Short Form of the Stock: Su Changchai A, Su Changchai B Stock Code: 000570, 200570 Announcement No.:
2011-010
CHANGCHAI COMPANY, LIMITED
SUMMARY OF THE SEMI-ANNUAL REPORT 2011
§1. Important Notice
1.1 The Board of Directors, the Supervisory Committee as well as Directors, Supervisors and
Senior Executives of Changchai Company, Limited (hereinafter referred to as “the
Company”) warrant that this report does not contain any false or misleading statements or
omit any material facts and shall take individual and joint responsibility for the factuality,
accuracy and completeness of the contents of this report.
The Summary of the Semi-Annual Report 2011 is abstracted from the full text of the
Semi-annual Report 2011, which is published on the internet website http://www.cninfo.com.cn
in the mean time. The investors are suggested to read the full text to understand more details.
1.2 No directors, supervisors or senior executives have declared uncertainty or disagreement
about the truthfulness, accuracy and completeness of this report.
1.3 All directors of the Company attended the Board meeting.
1.4 The financial statements for the first half of 2011 have not been audited.
1.5 Mr. Xue Guojun, company principal, Mr. He Jianguang, head of the accounting work,
and Mr. Jiang He, head of the accounting department (chief of accounting) hereby confirm
that the financial statements enclosed in this report is true and complete.
English Translation for Reference Only. Should there be any discrepancy between the two
versions, the Chinese version shall prevail.
§2 Company Profile
2.1 Basic information
Short form of the stock Su Changchai A, Su Changchai B
Stock code 000570, 200570
Stock exchange Shenzhen Stock Exchange
Company Secretary Securities Affairs Representative
Name Shi Jianchun He Jianjiang
No. 123, Huaide Middle Road, Changzhou, No. 123, Huaide Middle Road, Changzhou,
Contact address
Jiangsu Jiangsu
Tel. （86）519-86610041 （86）519-68683155
Fax （86）519-86630954 （86）519-86630954
E-mail ccsjc@changchai.com cchjj@changchai.com
2.2 Financial highlights
2.2.1 Major accounting data and financial indices
Unit: RMB Yuan
Increase/decrease of
the end of this
At the end of this At the period-end of reporting period
reporting period last year compared with the
period-end of last year
(%)
Total assets 3,127,516,355.37 3,422,525,753.79 -8.62
Owners’ equity attributable to shareholders of the listed
1,903,261,218.34 2,078,644,128.64 -8.44
company
Share capital 561,374,326.00 561,374,326.00 0.00
Net assets per share attributable to shareholders of the
3.39 3.70 -8.38
listed company (Yuan/share)
Year-on-year
The reporting period The same period of last
increase/decrease
(Jan. -Jun.) year
(%)
Total operating income 1,702,548,109.24 1,486,675,455.65 14.52
Operating profit 40,931,592.25 74,247,231.87 -44.87
Total profit 47,558,149.99 76,052,323.60 -37.47
Net profit attributable to shareholders of the listed
37,156,614.70 62,560,326.88 -40.61
company
Net profit attributable to shareholders of the listed
31,604,115.97 60,930,569.42 -48.13
company after deducting non-recurring gains and losses
Basic EPS (Yuan/share) 0.07 0.11 -36.36
Diluted EPS (Yuan/share) 0.07 0.11 -36.36
Down by 160 basic
ROE (%) 1.87% 3.47%
points
Net cash flows from operating activities -48,652,001.52 73,577,854.63 ——
Net cash flows per share from operating activities
-0.09 0.13 ——
(Yuan/share)
2.2.2 Items of non-recurring gains and losses
√Applicable □Inapplicable
Unit: RMB Yuan
Item Amount Notes (if applicable)
Including: a net income of RMB
Gains and losses from non-current asset disposal 140,834.57 140,834.57 from fixed asset
disposal
Government subsidies recognized into current gains and losses 5,922,000.00
(excluding those subsidies which are closely related to the
Company’s business and are enjoyed at fixed amounts or proportions
according to unified state standards)
Gains and losses from fair value changes in transactional financial Including: an income of RMB
assets and liabilities, and investment incomes from disposing -66,665.37 from fair value changes
transactional financial assets and liabilities and financial assets -66,665.37 of transactional financial assets held
available for sale, excluding the effective hedging business related to by the Company
the normal operation of the Company
Other non-operating incomes and expenses besides the items above 563,723.17
Effect on income tax -992,126.39
Effect on minority interests (after tax) -15,267.25
Total 5,552,498.73
2.2.3 Difference between PRC GAAP and IFRS
√Applicable □Inapplicable
Unit: RMB Yuan
PRC GAAP IFRS
Net profit 37,156,614.70 37,156,614.70
Net assets 1,903,261,218.34 1,903,261,218.34
Explanation on
No difference
difference
§3 Changes in Share Capital and Particulars about Shareholders
3.1 Statement on changes in shares
□Applicable √Inapplicable
3.2 Shares held by the top ten shareholders and the top ten shareholders of tradable shares
Unit: Share
Total number of shareholders 100,329
Particulars about shares held by the top ten shareholders
Nature of Proportion in Total number of Shares subject to Shares pledged
Name of shareholder
shareholders total shares shares held moratorium held or frozen
1. State-owned Assets Supervision and
On behalf of the
Administration Commission of Changzhou 30.02% 168,497,736 0 28,068,716
state
Municipal Government
Domestic natural
2. Xu Jing 0.18% 1,007,263 0 0
person
3. ICBC - Yinhua Harmonious Theme Domestic legal
0.18% 1,000,000 0 0
Dynamic Asset Allocation Mixed Type person
Fund
Domestic natural
4. Li Tao 0.15% 838,391 0 0
person
Foreign legal
5. Sinoauto Company, Ltd. 0.15% 820,000 0 0
person
Domestic natural
6. Ma Zeqi 0.13% 712,500 0 0
person
7. Guosen Securities Co., Ltd. - Guarantee Domestic legal
0.12% 656,600 0 0
Account for Customer Credit Transaction person
Domestic natural
8. Liu Guosheng 0.11% 591,400 0 0
person
Domestic natural
9. Zhu Shuanglian 0.10% 585,715 0 0
person
Domestic natural
10. Xu Meixia 0.10% 565,950 0 0
person
Particulars about shares held by the top ten shareholders not subject to trading moratorium
Number of shares not subject to
Name of shareholders trading moratorium held by the Type of shares
shareholder
1. State-owned Assets Supervision and Administration Commission of
168,497,736 Renminbi ordinary shares
Changzhou Municipal Government
2. Xu Jing 1,007,263 Renminbi ordinary shares
3. ICBC - Yinhua Harmonious Theme Dynamic Asset Allocation Mixed
1,000,000 Renminbi ordinary shares
Type Fund
Domestically listed foreign
4. Li Tao 838,391
shares
Domestically listed foreign
5. Sinoauto Company, Ltd. 820,000
shares
Domestically listed foreign
6. Ma Zeqi 712,500
shares
7. Guosen Securities Co., Ltd. - Guarantee Account for Customer Credit
656,600 Renminbi ordinary shares
Transaction
Domestically listed foreign
8. Liu Guosheng 591,400
shares
9. Zhu Shuanglian 585,715 Renminbi ordinary shares
10. Xu Meixia 565,950 Renminbi ordinary shares
It is unknown whether there was any associated relationship among the top ten tradable
Explanation on associated relationship and
shareholders and among the top ten shareholders not subject to moratorium, or whether
action-in-concert among the top ten
there is any action-in-concert among them as described by Measures for the Administrative
shareholders
of Disclosure of Shareholder Equity Changes.
3.3 Change of the controlling shareholder and actual controller of the Company
□Applicable √Inapplicable
§4 Particulars about Directors, Supervisors and Senior Executives
4.1 Particulars about changes in shares held by directors, supervisors and senior executives
□Applicable √Inapplicable
The number of stock options and restricted shares of the Company held by directors,
supervisors and senior executives:
□Applicable √Inapplicable
§5 Report of the Board of Directors
5.1 Main business lines classified according to industries or products
Unit: RMB Ten thousand
Main business lines classified according to industries
Increase or Increase or Increase or
Gross
Operating Operating decrease of decrease of decrease of gross
Industries or products profit rate
income cost operating income operating cost profit rate
(%)
year-on-year (%) year-on-year (%) year-on-year (%)
Diesels engines and fittings 170,254.81 156,375.40 8.16 15.57 22.11 -4.92
Main business lines classified according to products
Diesels engines and fittings 170,254.81 156,375.40 8.16 15.57 22.11 -4.92
Of which: Related-party transactions arising from the Company’s selling products and
providing services to the controlling shareholder and its subsidiaries valued RMB 0.00 in
total for the reporting period.
5.2 Main business lines classified according to areas
Unit: RMB Ten thousand
Area Operating income Year-on-year increase/decrease (%)
East China 74,857.68 15.10
Northeast China 7,236.88 -11.93
Southwest China 13,760.70 -9.86
Central China 20,813.12 26.45
North China 9,879.69 18.88
Northwest China 5,261.17 14.83
South China 14,199.06 34.56
Export 12,647.09 33.69
5.3 Reasons for significant changes in main operations and its structure
□Applicable √Inapplicable
5.4 Explanation on reasons for significant changes in profitability (gross profit ratio) of main
operations than that in the last year
√Applicable □Inapplicable
Affected by the price rise of raw and auxiliary materials and other elements, the gross profit
rate dropped from 13.08% in the same period of last year to 8.16% in the reporting period.
5.5 Analysis to reasons for significant changes in profit breakdown compared with the
previous year
□Applicable √Inapplicable
5.6 Utilization of the raised proceeds
5.6.1 Utilization of the raised proceeds
□Applicable √Inapplicable
5.6.2 Change of projects invested with raised proceeds
□Applicable √Inapplicable
5.7 Business plan revised by the Board of Directors for the second half of the year
□Applicable √Inapplicable
5.8 Estimation on accumulative net profit from the beginning of the year to the end of the
next reporting period to be loss probably or the warning of its significant change compared
with the corresponding period of the last year, as well as explanation on reasons
□Applicable √Inapplicable
5.9 Explanation of the Management Team on “Non-standard Auditors’ Opinion” from the
Certified Public Accountants for the reporting period
□Applicable √Inapplicable
5.10 Explanation of the Board of Directors on changes and solutions of the issues involved in
“Non-standard Auditors’ Opinion” from the Certified Public Accountants in the last year
□Applicable √Inapplicable
§6 Significant Events
6.1 Acquisition, sale and reorganization of assets
6.1.1 Assets acquired
□Applicable √Inapplicable
6.1.2 Assets sold
□Applicable √Inapplicable
6.1.3 Progress of these events and its influence on the operating results and financial status in
the reporting period after the report on assets restructure or public notice on acquisition and
sales of assets being published
□Applicable √Inapplicable
6.2 Guarantees
√Applicable □Inapplicable
Unit: RMB Ten thousand
External guarantees of the Company (excluding those for subsidiaries)
Disclosure
date and
Date of
number of Guarantee for a
occurrence Actual Execution
Guaranteed the Amount of Type of Term of related party or
(date of amount of completed
party announceme guarantee guarantee guarantee not (Yes or
signing guarantee or not
nt in relation No)
agreement)
to the
guarantee
amount
Total external guarantee amount Total actual external guarantee
approved in the reporting period 0.00 amount in the reporting period 0.00
(A1) (A2)
Total external guarantee amount
Total actual external guarantee
approved by the period-end 0.00 0.00
balance at the period-end (A4)
(A3)
Guarantees provided by the Company for its subsidiaries
Disclosure
date and
number of Date of
Guarantee for a
the occurrence Actual Execution
Guaranteed Amount of Type of Term of related party or
announceme (date of amount of completed
party guarantee guarantee guarantee not (Yes or
nt in relation signing guarantee or not
No)
to the agreement)
guarantee
amount
Changchai
Benniu Diesel
－ 2,200.00 22 Mar. 2011 2,200.00 Credit 1 year No No
Engine Fittings
Co., Ltd.
Total amount of guarantees for Total actual amount of
subsidiaries approved in the 2,200.00 guarantees for subsidiaries in the 2,200.00
reporting period (B1) reporting period (B2)
Total amount of guarantees for Total actual balance of
subsidiaries approved by the 2,200.00 guarantees for subsidiaries at the 2,200.00
period-end (B3) period-end (B4)
Total guarantee amount of the Company (combination of the two kinds of guarantees above)
Total guarantee amount
Total actual guarantee amount in
approved in the reporting period 2,200.00 2,200.00
the reporting period (A2+B2)
(A1+B1)
Total guarantee amount
Total actual guarantee balance at
approved by the period-end 2,200.00 2,200.00
the period-end (A4+B4)
(A3+B3)
Proportion of the total actual guarantee balance (A4+B4) in the
1.16%
Company’s net assets
Of which:
Guarantee amount offered to shareholders, actual controller and related
0.00
parties (C)
Debt guarantee amount directly or indirectly provided for guaranteed
0.00
parties with an asset-liability ratio over 70% (D)
Amount of total guarantee over 50% of net assets (E) 0.00
Total of above-mentioned three kinds of guarantees (C+D+E) 0.00
Explanation on possibility to bear joint liability due to undue N/A
guarantees
6.3 Non-operating credits and liabilities with related parties
□Applicable √Inapplicable
6.4 Material lawsuits and arbitrations
√Applicable □Inapplicable
During the reporting period, the Company was involved in the case where the Company sued
Shandong Hongli Group Co., Ltd. over a good payment it owed to the Company, involving
RMB 14.36 million. The said case had occurred before the reporting period and continued to
the reporting period.
6.5 Other significant events and explanation on analysis to their influences and solutions
□Applicable √Inapplicable
6.5.1 Securities investment
√Applicable □Inapplicable
Unit: RMB Yuan
Proportion in
Profits or
Initial total
Sequ Number of Book value at losses in the
Securities Short form investment securities
ence Stock code shares held period-end reporting
variety of stock amount (RMB investment at
No. (share) (RMB Yuan) period (RMB
Yuan) period-end
Yuan)
(%)
Dongfeng
1 Fund A00007 200,000.00 198,468.70 196,508.74 26.82 -10,513.96
No.6
Wenfeng 440,000.00 22,000.00 396,220.00
2 Stock 601010 54.07 -43,780.00
Stock
3 Stock 002588 Shidanli 157,500.00 4,500.00 140,040.00 19.11 -17,460.00
Other securities investment held at period-end 0 0 0 0 0
Profits or losses from securities investment sold in
— — — — 144,741.20
the reporting period
Total 797,500.00 — 732,768.74 100.00 72,987.24
6.5.2 Equity of other listed companies held by the Company
√Applicable □Inapplicable
Unit: RMB Yuan
Profits or
losses in
Initial investment Proportion Book value at Change of owner’ s
Stock Short form the
amount (RMB of period-end (RMB equity in the
code of stock reporting
Yuan) shareholding Yuan) reporting period
period
(RMB
Yuan)
600166 Foton Motor 41,784,000.00 3.42% 627,130,000.00 0.00 -249,985,000.00
Ninghu
600377 90,500.00 270,500.00 0.00 -61,500.00
Expressway
Total 41,874,500.00 — 627,400,500.00 0.00 -250,046,500.00
6.5.3 Non-operating capital occupation by principal shareholders and its affiliated enterprises
and progress of debt repayment
□Applicable √Inapplicable
6.5.4 Implementation of commitments made by the Company, as well as its shareholders and
actual controller
√Applicable □Inapplicable
Commitment Promisee Contents of commitment Implementation
1. No trading or transfer of the held
non-tradable shares shall be conducted within
the State-owned 12 months since the date when the share
Assets merger reform was implemented. All the said shares
Supervision and 2. After the expiration of the aforesaid have been released
Commitment made in the share Administration commitment period, the original non-tradable from trading
reform Commission of shares could be sold through listing and moratorium
Changzhou trading on Shenzhen Stock Exchange, but the according to
People’s proportion of number of shares sold in total regulations.
Government shares of the Company shall not exceed 5
percent within 12 months, as well as not
exceed 10 percent within 24 months.
Commitment concerning share
Inapplicable
trading moratorium
Commitment in the acquisition
report or the report on equity Inapplicable
changes
Commitment made in the
Inapplicable
significant asset reorganization
Commitment made in the
Inapplicable
issuance
Other commitments (including
Inapplicable
supplementary ones)
6.5.5 Pre-plan of the Board of Directors for profit distribution or turning capital reserves into
share capital
□Applicable √Inapplicable
6.5.6 Items of other comprehensive income
√Applicable □Inapplicable
Unit: RMB Yuan
Same period of last
Items Reporting period
year
1. Profits/(losses) from available-for-sale financial assets -250,046,500.00 -67,245,000.00
Less: Effects on income tax generating from available-for-sale financial assets -37,506,975.00 -10,086,750.00
Net amount transferred into profit and loss in the current period that
recognized into other comprehensive income in prior period
Subtotal -212,539,525.00 -57,158,250.00
2. Interests in the investee entities’ other comprehensive income as per equity
method
Less: Effects on income tax generating from the interests in the investee
entities’ other comprehensive income as per equity method
Net amount transferred into profit and loss in the current period that
recognized into other comprehensive income in prior period
Subtotal
3. Profits/(losses) from cash flow hedging instrument
Less: Effects on income tax generating from cash flow hedging instrument
Net amount transferred into profit and loss in the current period that
recognized into other comprehensive income in prior period
The adjustment value that is the converted initial recognition amount of
arbitrage project
Subtotal
4. Converted amount of foreign currency financial statements
Less: Net value of disposal of oversea operations that recognized into current
profit and loss
Subtotal
5. Other
Less: Effects on income tax generating from the others that included into other
comprehensive income
Net amount transferred into profit and loss in the current period that
recognized into other comprehensive income in prior period
Subtotal
Total -212,539,525.00 -57,158,250.00
6.6 Particulars about reception of researches, communication and interviews in this reporting
period
□Applicable √Inapplicable
§7 Financial Report
7.1 Auditing opinion
Financial Report √Un-audited □Audited
7.2 Financial statements
7.2.1 Balance Sheet
Prepared by Changchai Company, Limited 30 Jun. 2011 Unit: RMB Yuan
Closing balance Opening balance
Items
Consolidation The Company Consolidation The Company
Current assets:
Monetary funds 686,687,180.70 652,410,923.04 763,106,649.01 727,580,790.13
Settlement fund reserve
Outgoing call loans
Transactional financial assets 732,768.74 292,091.61
Notes receivable 129,518,471.79 124,498,471.79 142,352,378.25 142,018,290.85
Accounts receivable 477,162,025.52 435,547,683.57 381,350,829.22 338,138,200.12
Accounts paid in advance 21,611,963.06 36,519,712.56 26,774,287.46 26,207,238.46
Premium receivables
Receivables from reinsurers
Reinsurance contract reserve
receivables
Interest receivable
Dividend receivable
Other accounts receivable 24,718,530.99 12,868,230.26 26,169,152.47 14,379,561.94
Financial assets purchased
under agreements to resell
Inventories 362,131,024.39 280,108,058.73 421,623,254.40 360,914,154.92
Non-current assets due within 1
year
Other current assets 130,029.34
Total current assets 1,702,691,994.53 1,541,953,079.95 1,761,668,642.42 1,609,238,236.42
Non-current assets:
Loans and advances
Available-for-sale financial assets 627,400,500.00 627,400,500.00 877,447,000.00 877,447,000.00
Held-to-maturity investments
Long-term accounts receivable
Long-term equity investment 63,007,887.47 139,347,687.47 63,007,887.47 139,347,687.47
Investing property 67,218,563.63 67,218,563.63 68,322,734.03 68,322,734.03
Fixed assets 432,078,778.12 377,528,320.70 426,833,093.03 371,065,554.46
Construction in process 144,305,085.91 130,824,846.63 125,825,846.40 125,772,036.03
Engineering materials
Fixed asset disposal
Bearer biological assets
Oil and gas assets
Intangible assets 89,460,119.34 87,261,244.52 98,495,664.77 96,270,212.38
Development expense
Goodwill
Long-term expense to be
apportioned
Deferred income tax assets 924,885.67 924,885.67 924,885.67 924,885.67
Other non-current assets
Total of non-current assets 1,424,395,820.14 1,430,506,048.62 1,660,857,111.37 1,679,150,110.04
Total assets 3,127,087,814.67 2,972,459,128.57 3,422,525,753.79 3,288,388,346.46
Current liabilities:
Short-term borrowings 37,500,000.00 26,000,000.00
Borrowings from Central Bank
Deposits and due to banks and
other financial institutions
Placements from banks and other
financial institutions
Transactional financial
liabilities
Notes payable 335,140,000.00 320,430,000.00 281,272,700.00 268,580,000.00
Accounts payable 459,779,113.62 422,497,233.45 561,406,743.51 525,392,317.83
Accounts received in advance 61,830,127.73 61,917,616.42 97,326,286.93 97,179,884.05
Financial assets sold under
agreements to repurchase
Handling charges and
commissions payable
Employee’s compensation
28,099,781.43 23,720,971.09 51,491,411.51 46,464,096.56
payable
Tax payable -20,488,877.73 -16,242,202.84 -18,752,267.69 -15,988,487.82
Interest payable
dividend payable 3,891,433.83 3,243,179.97 3,891,433.83 3,243,179.97
Other accounts payable 147,447,177.89 138,677,697.06 136,395,687.65 132,339,997.54
Due to reinsurers
Insurance contract reserve
Payables for acting trading
securities
Payables for acting
underwriting securities
Non-current liabilities due
within 1 year
Other current liabilities 1,121,904.80 1,034,108.52
Total current liabilities 1,054,320,661.57 954,244,495.15 1,140,066,104.26 1,057,210,988.13
Non-current liabilities:
Long-term borrowings 30,000,000.00 30,000,000.00 30,000,000.00 30,000,000.00
Debentures payable
Long-term payables
Specific payables
Provisions for contingent
liabilities
Deferred income tax liabilities 87,828,900.00 87,828,900.00 125,335,875.00 125,335,875.00
Other non-current liabilities 38,612,436.81 38,612,436.81 36,185,416.63 36,185,416.63
Total non-current liabilities 156,441,336.81 156,441,336.81 191,521,291.63 191,521,291.63
Total liabilities 1,210,761,998.38 1,110,685,831.96 1,331,587,395.89 1,248,732,279.76
Owner’s equity (or shareholders’
equity)
Paid-in capital (or share capital) 561,374,326.00 561,374,326.00 561,374,326.00 561,374,326.00
Capital reserve 671,062,223.76 680,741,409.95 883,601,748.76 893,280,934.95
Less: Treasury Stock
Specific reserve
Surplus reserve 273,072,577.59 273,072,577.59 273,072,577.59 273,072,577.59
General risk provision
Retained earnings 397,752,090.99 346,584,983.07 360,595,476.29 311,928,228.16
Foreign exchange difference
Total owners' equity attributable
1,903,261,218.34 1,861,773,296.61 2,078,644,128.64 2,039,656,066.70
to the Company
Minority interests 13,064,597.95 12,294,229.26
Total owner’s equity 1,916,325,816.29 1,861,773,296.61 2,090,938,357.90 2,039,656,066.70
Total liabilities and owner’s
3,127,087,814.67 2,972,459,128.57 3,422,525,753.79 3,288,388,346.46
equity
7.2.2 Income Statement
Prepared by Changchai Company, Limited Jan.-Jun. 2011 Unit: RMB Yuan
Reporting period Same period of last year
Items
Consolidation The Company Consolidation The Company
I. Total operating income 1,702,548,109.24 1,698,786,025.65 1,486,675,455.65 1,498,628,361.73
Including: Sales income 1,702,548,109.24 1,698,786,025.65 1,486,675,455.65 1,498,628,361.73
Interest income
Premium income
Handling charge and commission
income
II. Total operating cost 1,671,832,162.82 1,672,513,179.64 1,419,173,571.05 1,434,391,178.32
Including: Cost of sales 1,563,753,985.22 1,576,529,249.38 1,287,727,677.72 1,315,285,655.58
Interest expenses
Handling charge and commission
expenses
Surrenders
Net claims paid
Net amount withdrawn for the
insurance contract reserve
Expenditure on policy dividends
Reinsurance premium
Taxes and associate charges 313,245.25 174,893.55
Selling and distribution expenses 53,181,896.91 50,057,012.94 51,194,531.22 47,503,047.78
Administrative expenses 59,829,955.18 51,705,886.62 81,383,842.99 74,136,284.41
Financial expenses -5,675,460.45 -6,084,501.00 -1,307,374.43 -2,533,809.45
Asset impairment loss 428,540.71 305,531.70
Add: Gain/(loss) from change in fair value
-66,665.37 0.00 5,534.10
(“-” means loss)
Gain/(loss) from investment (“-”
10,282,311.20 10,115,000.00 6,739,813.17 6,502,500.00
means loss)
Including: share of profits in associates and
joint ventures
Foreign exchange gains (“-” means loss)
III. Business profit (“-” means loss) 40,931,592.25 36,387,846.01 74,247,231.87 70,739,683.41
Add: non-operating income 9,002,588.33 8,834,166.57 5,984,057.24 5,532,540.35
Less: non-operating expense 2,376,030.59 2,360,206.85 4,178,965.51 4,108,049.91
Including: loss from non-current asset
disposal
IV. Total profit (“-” means loss) 47,558,149.99 42,861,805.73 76,052,323.60 72,164,173.85
Less: Income tax expense 9,631,166.60 8,205,050.82 12,786,669.47 11,695,386.73
V. Net profit (“-” means loss) 37,926,983.39 34,656,754.91 63,265,654.13 60,468,787.12
Attributable to owners of the
37,156,614.70 34,656,754.91 62,560,326.88 60,468,787.12
Company
Minority shareholders’ income 770,368.69 705,327.25
VI. Earnings per share
(I) basic earnings per share 0.07 0.11
(II) diluted earnings per share 0.07 0.11
Ⅶ. Other comprehensive incomes -212,539,525.00 -212,539,525.00 -57,158,250.00 -57,158,250.00
Ⅷ. Total comprehensive incomes -174,612,541.61 -177,882,770.09 6,107,404.13 3,310,537.12
Attributable to owners of the
-175,382,910.30 -177,882,770.09 5,402,076.88 3,310,537.12
Company
Attributable to minority shareholders 770,368.69 705,327.25
7.2.3 Cash Flow Statement
Prepared by Changchai Company, Limited Jan.-Jun. 2011 Unit: RMB Yuan
Reporting period Same period of last year
Items
Consolidation The Company Consolidation The Company
I. Cash flows from operating activities:
Cash received from sale of commodities and
1,742,112,976.28 1,739,971,070.13 1,505,587,808.41 1,503,082,113.31
rendering of service
Net increase of deposits from customers and
dues from banks
Net increase of loans from the central bank
Net increase of funds borrowed from other
financial institutions
Cash received from premium of original
insurance contracts
Net cash received from reinsurance business
Net increase of deposits of policy holders and
investment fund
Net increase of disposal of tradable financial
assets
Cash received from interest, handling charges
and commissions
Net increase of borrowings from banks and other
financial institutions
Net increase of funds in repurchase business
Tax refunds received 24,805,590.94 24,805,590.94
Other cash received relating to operating
15,950,302.31 14,233,689.48 12,585,252.55 11,928,811.41
activities
Subtotal of cash inflows from operating activities 1,782,868,869.53 1,779,010,350.55 1,518,173,060.96 1,515,010,924.72
Cash paid for goods and services 1,605,540,702.84 1,632,168,132.83 1,254,234,969.24 1,257,962,515.57
Net increase of customer lendings and advances
Net increase of funds deposited in the central
bank and amount due from banks
Cash for paying claims of the original insurance
contracts
Cash for paying interest, handling charges and
commissions
Cash for paying policy dividends
Cash paid to and for employees 146,277,793.39 130,085,632.70 121,374,684.34 108,737,449.09
Various taxes paid 34,717,093.95 28,995,696.24 23,288,817.95 19,871,179.06
Other cash payment relating to operating
44,985,280.87 41,143,545.90 45,696,734.80 40,822,295.89
activities
Subtotal of cash outflows from operating activities 1,831,520,871.05 1,832,393,007.67 1,444,595,206.33 1,427,393,439.61
Net cash flows from operating activities -48,652,001.52 -53,382,657.12 73,577,854.63 87,617,485.11
II. Cash flows from investment activities:
Cash received from disposal of investments 232,202.20
Cash received from return on investments 10,312,803.27 10,115,000.00 6,739,813.17 6,502,500.00
Net cash received from disposal of fixed assets,
20,297,786.84 20,143,379.50 26,045,985.49 26,031,054.23
intangible assets and other long-term assets
Net cash received from disposal of subsidiaries
or other business units
Other cash received relating to investment
52,189.02
activities
Subtotal of cash inflows from investment
30,894,981.33 30,258,379.50 32,785,798.66 32,533,554.23
activities
Cash paid to acquire fixed assets, intangible
66,890,197.14 50,816,604.10 82,785,627.24 78,162,015.84
assets and other long-term assets
Cash paid for investment 663,948.24 10,566,840.00 30,000,000.00
Net increase of pledged loans
Net cash paid to acquire subsidiaries and other
business units
Payment of cash relating to other investment
activities
Subtotal of cash outflows from investment
67,554,145.38 50,816,604.10 93,352,467.24 108,162,015.84
activities
Net cash flows from investment activities -36,659,164.05 -20,558,224.60 -60,566,668.58 -75,628,461.61
III. Cash Flows from Financing Activities:
Cash received from capital contributions
Including: Cash received from minority
shareholder investments by subsidiaries
Cash received from borrowings 43,500,000.00 51,500,000.00 30,000,000.00
Cash received from issuance of bonds
Other cash received relating to financing
activities
Subtotal of cash inflows from financing activities 43,500,000.00 51,500,000.00 30,000,000.00
Repayment of borrowings 32,000,000.00 31,500,000.00
Cash paid for interest expenses and distribution
2,608,302.74 1,228,985.37 2,762,597.41 1,080,545.61
of dividends or profit
Including: dividends or profit paid by
subsidiaries to minority shareholders
Other cash payments relating to financing
activities
Sub-total of cash outflows from financing activities 34,608,302.74 1,228,985.37 34,262,597.41 1,080,545.61
Net cash flows from financing activities 8,891,697.26 -1,228,985.37 17,237,402.59 28,919,454.39
IV. Effect of foreign exchange rate changes on
cash and cash equivalents
V. Net increase in cash and cash equivalents -76,419,468.31 -75,169,867.09 30,248,588.64 40,908,477.89
Add: Opening cash and cash equivalents 763,106,649.01 727,580,790.13 770,721,154.44 732,773,854.30
VI. Closing cash and cash equivalents 686,687,180.70 652,410,923.04 800,969,743.08 773,682,332.19
7.2.4 Statement of Changes in Owners’ Equity (Consolidated)
Prepared by Changchai Company, Limited For the first half of 2011 Unit: RMB Yuan
Reporting period Last year
Equity attributable to owners of the Company Equity attributable to owners of the Company
Paid-up Paid-up Minorit
Total Total
Items capital Less: Specifi Genera Minority capital Less: Specifi Genera y
Capital Surplus Retaine owners’ Capital Surplus Retaine owners’
(or treasur c l risk Others interests (or treasur c l risk Others interest
reserve reserve d profit equity reserve reserve d profit equity
share y stock reserve reserve share y stock reserve reserve s
capital) capital)
561,37 883,60 273,07 360,59 2,090,9 561,37 723,02 262,05 251,06 1,808,4
I. Balance at the end of the 12,294,2 10,913,
4,326.0 1,748.7 2,577.5 5,476.2 38,357. 4,326.0 9,311.2 9,351.4 6,746.0 43,509.
previous year 29.26 774.33
0 6 9 9 90 0 6 1 7 07
Add: change of accounting
0.00
policy
Correction of errors in previous
0.00
periods
Other 0.00
561,37 883,60 273,07 360,59 2,090,9 561,37 723,02 262,05 251,06 1,808,4
II. Balance at the beginning of the 12,294,2 10,913,
4,326.0 1,748.7 0.00 0.00 2,577.5 0.00 5,476.2 0.00 38,357. 4,326.0 9,311.2 0.00 0.00 9,351.4 0.00 6,746.0 0.00 43,509.
year 29.26 774.33
0 6 9 9 90 0 6 1 7 07
-212,53 -174,61 160,57 109,52 282,49
III. Increase/ decrease of amount 37,156, 770,368. 11,013, 1,380,4
0.00 9,525.0 2,541.6 0.00 2,437.5 8,730.2 4,848.8
in the year (“-” means decrease) 614.70 69 226.18 54.93
0 1 0 2 3
120,54 121,92
37,156, 770,368. 37,926, 1,380,4
(I) Net profit 1,956.4 2,411.3
614.70 69 983.39 54.93
0 3
(II) Other comprehensive -212,53 -212,53 160,57 160,57
incomes 9,525.0 9,525.0 2,437.5 2,437.5
0 0 0 0
-212,53 -174,61 160,57 120,54 282,49
37,156, 770,368. 1,380,4
Subtotal of (I) and (II) 9,525.0 2,541.6 2,437.5 0.00 1,956.4 4,848.8
614.70 69 54.93
0 1 0 0 3
(III) Capital paid in and
0.00 0.00 0.00 0.00
reduced by owners
1. Capital paid in by owners 0.00
2. Amounts of share-based
payments recognized in owners’ 0.00
equity
3. Others 0.00
11,013, -11,013
(IV) Profit distribution 0.00 0.00 0.00
226.18 ,226.18
1. Appropriations to surplus 11,013, -11,013
0.00
reserves 226.18 ,226.18
2. Appropriations to general
0.00
risk provisions
3. Appropriations to owners
0.00 0.00
(or shareholders)
4. Other 0.00
(V) Internal carry-forward of
0.00 0.00 0.00 0.00 0.00 0.00
owners’ equity
1. New increase of capital
(or share capital) from capital 0.00
reserves
2. New increase of capital
(or share capital) from surplus 0.00
reserves
3. Surplus reserves for
0.00
making up losses
4. Other 0.00 0.00 0.00
561,37 671,06 273,07 397,75 1,916,3 561,37 883,60 273,07 360,59 2,090,9
13,064,5 12,294,
IV. Closing balance 4,326.0 2,223.7 2,577.5 2,090.9 25,816. 4,326.0 1,748.7 2,577.5 5,476.2 38,357.
97.95 229.26
0 6 9 9 29 0 6 9 9 90
7.2.5 Statement of Change in Owners’ Equity (the Company)
Prepared by Changchai Company, Limited For the first half of 2011 Unit: RMB Yuan
Reporting period Last year
Paid-up Paid-up
Less: Total Less: Total
Items capital (or Capital Specific Surplus Retained capital (or Capital Specific Surplus Retained
treasury owners’ treasury owners’
share reserve reserve reserve profit share reserve reserve reserve profit
stock equity stock equity
capital) capital)
I. Balance at the end of the 561,374,32 893,280,93 273,072,57 311,928,22 2,039,656,0 561,374,32 732,708,49 262,059,35 212,809,19 1,768,951,3
previous year 6.00 4.95 7.59 8.16 66.70 6.00 7.45 1.41 2.52 67.38
Add: change of accounting
0.00 0.00
policy
Correction of errors in
0.00 0.00
previous periods
Other 0.00 0.00
II. Balance at the beginning 561,374,32 893,280,93 273,072,57 311,928,22 2,039,656,0 561,374,32 732,708,49 262,059,35 212,809,19 1,768,951,3
0.00 0.00
of the year 6.00 4.95 7.59 8.16 66.70 6.00 7.45 1.41 2.52 67.38
III. Increase/ decrease of
-212,539,5 34,656,754 -177,882,77 160,572,43 11,013,226 99,119,035 270,704,69
amount in the year (“-” 0.00 0.00
25.00 .91 0.09 7.50 .18 .64 9.32
means decrease)
34,656,754 34,656,754. 110,132,26 110,132,26
(I) Net profit
.91 91 1.82 1.82
(II) Other comprehensive -212,539,5 -212,539,52 160,572,43 160,572,43
incomes 25.00 5.00 7.50 7.50
-212,539,5 34,656,754 -177,882,77 160,572,43 110,132,26 270,704,69
Subtotal of (I) and (II) 0.00
25.00 .91 0.09 7.50 1.82 9.32
(III) Capital paid in and
0.00 0.00 0.00
reduced by owners
1. Capital paid in by
0.00
owners
2. Amounts of
share-based payments 0.00
recognized in owners’ equity
3. Others 0.00
11,013,226 -11,013,22
(IV) Profit distribution 0.00
.18 6.18
1. Appropriations to 11,013,226 -11,013,22
0.00
surplus reserves .18 6.18
2. Appropriations to
0.00
owners (or shareholders)
3. Other 0.00
(V) Internal carry-forward
0.00 0.00 0.00 0.00 0.00
of owners’ equity
1. New increase of
capital (or share capital) from 0.00
capital reserves
2. New increase of
capital (or share capital) from 0.00
surplus reserves
3. Surplus reserves for
0.00
making up losses
4. Other 0.00
561,374,32 680,741,40 273,072,57 346,584,98 1,861,773,2 561,374,32 893,280,93 273,072,57 311,928,22 2,039,656,0
IV. Closing balance
6.00 9.95 7.59 3.07 96.61 6.00 4.95 7.59 8.16 66.70
7.3 Notes to the financial statements
7.3.1 Should there be any changes in accounting policies, accounting estimates and
accounting errors, give the relevant contents, reasons and influenced amounts
□Applicable √Inapplicable
7.3.2 Should any significant change occur in the consolidation scope for the reporting
period, give reasons and influenced amounts
□Applicable √Inapplicable
7.3.3 If a non-standard auditor’s report is issued, list notes to relevant matters.
□Applicable √Inapplicable
Board of Directors
Changchai Company, Limited
18 August 2011