Short Form of the Stock: Su Changchai A, Su Changchai B Stock Code: 000570, 200570 Announcement No.: 2012-017
CHANGCHAI COMPANY, LIMITED
SUMMARY OF THE SEMI-ANNUAL REPORT 2012
I. Important Notes
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.
No directors, supervisors or senior executives have declared uncertainty or disagreement about the
truthfulness, accuracy and completeness of this report.
Director He jianguang、Lu Jiangxiang、Zhu Jianming from the Board meeting due to some reasons,
and respectively entrusted Director Shi Jianchun 、Xu Zhenping、Shen Ningwu to vote on his
behalf.
The financial statements for the first half of 2012 have not been audited by a CPAs firm.
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 are true and complete.
English Translation for Reference Only. Should there be any discrepancy between the two versions,
the Chinese version shall prevail.
II. Company Profile
（I）Basic information
A-share abbreviation Su Changchai A
A-share code 000570
Stock exchange listed with Shenzhen Stock Exchange
Company Secretary Securities Affairs Representative
Name Shi Jianchun He Jianjiang
No. 123, Huaide Middle Road, No. 123, Huaide Middle Road,
Contact address
Changzhou, Jiangsu Changzhou, Jiangsu
Tel. （86）519-86610041 （86）519-68683155
Fax （86）519-86630954 （86）519-86630954
E-mail ccsjc@changchai.com cchjj@changchai.com
（II）Financial highlights
1. Major accounting data and financial indexes
Any retrospective adjustment in previous financial statements?
□ Yes √ No
Major accounting data:
This reporting period The same period of last
Major accounting data Increase/decrease (%)
(Jan.-Jun.) year
Gross operating revenues (RMB Yuan) 1,599,480,212.75 1,702,548,109.24 -6.05
Operating profit (RMB Yuan) 31,197,735.95 40,931,592.25 -23.78
Total profit (RMB Yuan) 35,528,457.99 47,558,149.99 -25.29
Net profit attributable to shareholders of the
29,802,438.47 37,156,614.70 -19.79
Company (RMB Yuan)
Net profit attributable to shareholders of the
Company after deducting non-recurring gains and 25,424,883.61 31,604,115.97 -19.55
losses (RMB Yuan)
Net cash flow from operating activities (RMB
207,869,158.63 -48,652,001.52 ——
Yuan)
As at the end of this
As at the end of last year Increase/decrease (%)
reporting period
Total assets (RMB Yuan) 3,083,920,367.41 2,870,088,394.73 7.45
Owners’ equity attributable to shareholders of the
1,854,820,864.26 1,742,701,667.71 6.43
Company (RMB Yuan)
Share capital (share) 561,374,326.00 561,374,326.00 0.00
Major financial indexes:
This reporting period The same period of last
Major financial indexes Increase/decrease (%)
(Jan.-Jun.) year
Basic EPS (RMB Yuan/share) 0.05 0.07 -28.57
Diluted EPS (RMB Yuan/share) 0.05 0.07 -28.57
Basic EPS after deducting non-recurring gains and
losses (RMB Yuan/share) 0.05 0.06 -16.67
Fully diluted ROE (%) 1.61 1.95 -0.34
Weighted average ROE (%) 1.66 1.87 -0.21
Fully diluted ROE after deducting non-recurring
1.37 1.66 -0.29
gains and losses (%)
Weighted average ROE after deducting
1.41 1.59 -0.18
non-recurring gains and losses (%)
Net cash flow per share from operating activities
(RMB Yuan/share) 0.37 -0.09 ——
As at the end of this
As at the end of last year Increase/decrease (%)
reporting period
Net assets per share attributable to shareholders of
the Company (RMB Yuan/share) 3.30 3.10 6.45
Liability/asset ratio（%） 39.40 38.80 0.6
2. Items of non-recurring gains and losses
√Applicable □Inapplicable
Item Amount (RMB Yuan) Note
Including: net income of RMB
Gains and losses on disposal of non-current assets 2,454,786.74 2,454,786.74 from fixed asset
disposal
Tax rebate, reduction or exemption due to un-authorized approval or
the lack of formal approval documents
Government grants recognized in the current year, except for those
acquired in the ordinary course of business or granted at certain quotas 1,600,000.00
or amounts according to the country’s unified standards
Capital occupation fees received from non-financial enterprises that are
750,000.00
included in current gains and losses
Gains generated when the investment costs of the Company’s acquiring
subsidiaries, associates and joint ventures are less than the fair value of
identifiable net assets in the investees attributable to the Company in
the acquisition of the investments
Exchange gains and losses of non-monetary assets
Gains and losses through entrusting others to invest or manage assets
Various asset impairment provisions due to acts of God such as natural
disasters
Gains and losses on debt restructuring
Enterprise reorganization expenses, such as expenses on employee
settlement and integration
Gains and losses on the parts exceeding the fair value when prices of
transactions become unfair
Net current gains and losses from the period-begin to the combination
date of subsidiaries due to business combinations under the same
control
Gains and losses on contingent matters which are irrelevant to the
normal operation of the Company
Gains and losses on fair value changes of transactional financial assets Disposal of trading financial assets
230,463.19
and liabilities, and investment gains on disposal of transactional to obtain investment returns.
financial assets and liabilities and available-for-sale financial assets,
except for the effective hedging business related to the Company’s
normal operation
Reversal of impairment provisions for accounts receivable which are
separately tested for impairment signs
Gains and losses on entrustment loans from external parties
Gains and losses on fair value changes of investing properties for
which the fair value method is adopted for subsequent measurement
Current gain and loss effect due to a just-for-once adjustment to current
gains and losses according to requirements of taxation and accounting
laws and regulations
Custodian fee income from entrusted operations with the Company
Other non-operating incomes and expenses besides the items above 275,935.30
Other gain and loss items that meet the definition of non-recurring
gains and losses
Minority interests effects -38,906.26
Income tax effects -894,724.11
Total 4,377,554.86 --
3. Net profit and net asset differences between financial reports disclosed according to the international and
Chinese accounting standards respectively
√Applicable □Inapplicable
Unit: RMB Yuan
Net profit attributable to shareholders of the Owners’ equity attributable to shareholders of
Company the Company
Reporting period Same period of last year Closing amount Opening amount
As per Chinese accounting
standards 29,802,438.47 37,156,614.70 1,854,820,864.26 1,742,701,667.71
Items and amounts adjusted according to international accounting standards:
As per international
accounting standards 29,802,438.47 37,156,614.70 1,854,820,864.26 1,742,701,667.71
4. Net profit and net asset differences between financial reports disclosed according to the overseas and
Chinese accounting standards respectively
√Applicable □Inapplicable
Unit: RMB Yuan
Net profit attributable to shareholders of the Owners’ equity attributable to shareholders of
Company the Company
Reporting period Same period of last year Closing amount Opening amount
As per Chinese accounting
standards 29,802,438.47 37,156,614.70 1,854,820,864.26 1,742,701,667.71
Items and amounts adjusted according to overseas accounting standards:
As per overseas accounting
standards 29,802,438.47 37,156,614.70 1,854,820,864.26 1,742,701,667.71
III. Changes in Share Capital and Particulars about Shareholders
（I）Changes in share capital
□Applicable √Inapplicable
（II）Shares held by the top ten holders of tradable shares/shares not subject to trading
moratorium
Shares held by the top ten shareholders and the top ten shareholders holding tradable shares
Total number of shareholders 90562
Particulars about shares held by the top ten shareholders
Sharehold Pledged or frozen shares
Number of
Name of shareholder (full Nature of ing Total shares held at
non-tradable Number of
name) shareholder percentag the period-end
shares held Status of shares shares
e (%)
State-owned Assets
Supervision and
State-owned
Administration Commission 30.02 168,497,736 0
corporation
of Changzhou Municipal
People’s Government
Xi Yanping Domestic natural
0.24 1,355,131 0
person
Wang Zhinan Domestic natural
0.19 1,083,000 0
person
Wang Litian Domestic natural
0.17 960,000 0
person
Guotai Junan Securities Overseas
0.16 876,150 0
(Hong Kong) Limited corporation
Li Tao Domestic natural
0.15 838,391 0
person
Dai Yi Domestic natural
0.15 823,247 0
person
Sinoauto Company, Ltd. Overseas
0.15 820,000 0
corporation
Feng Yan Domestic natural
0.14 796,850 0
person
Wang Huimin Domestic natural
0.14 766,636 0
person
Particulars about shares held by the top ten shareholders holding tradable shares
Number of tradable shares Type and number of shares
Name of shareholder
held Type Number
State-owned Assets Supervision and
Administration Commission of Changzhou 168,497,736 A-shares 168,497,736
Municipal People’s Government
Xi Yanping 1,355,131 A-shares 1,355,131
Wang Zhinan 1,083,000 A-shares 1,083,000
Wang Litian 960,000 A-shares 960,000
Guotai Junan Securities (Hong Kong) Limited 876,150 B-shares 876,150
Li Tao 838,391 B-shares 838,391
Dai Yi 823,247 A-shares 823,247
Sinoauto Company, Ltd. 820,000 B-shares 820,000
Feng Yan 796,850 A-shares 796,850
Wang Huimin 766,636 A-shares 766,636
It is unknown whether there was any associated relationship among the top ten
Explanation on associated relationship or/and
shareholders and among the top ten shareholders not subject to trading
persons acting in concert among the
moratorium, or whether they are persons acting in concert as described by
above-mentioned shareholders
Measures for the Administrative of Disclosure of Shareholder Equity Changes.
（III）Change of the controlling shareholder and the actual controller
□Applicable √Inapplicable
IV. Particulars about Directors, Supervisors and Senior Management
（I）Shareholding changes of directors, supervisors and senior management
Shares
Shares
held at
held at Reason for
Name Position Sex Age Office term at
year-begi change
year-en
n
d
Chairman of the From 17 May 2010 to 17
Xue Guojun Male 49 0 0
Board May 2013
Director, General
From 17 May 2010 to 17
He Jianguang Manager, Chief Male 48 0 0
May 2013
Engineer
From 17 May 2010 to 17
Lu Jiaxiang Director Male 57 0 0
May 2013
Director, Deputy
General Manager, From 17 May 2010 to 17
Shi Jianchun Male 50 0 0
Secretary of the May 2013
Board
Director, Deputy From 17 May 2010 to 17
Xu Zhenping Male 55 0 0
General Manager May 2013
Zhuang Director Male From 17 May 2010 to 17
68 0 0
Rongfa May 2013
Independent Director Male From 17 May 2010 to 17
Shen Ningwu 70 0 0
May 2013
Independent Director Male From 17 May 2010 to 17
Zhu Jianming 56 0 0
May 2013
Male From 17 May 2010 to 17
Cao Huiming Independent Director 63 0 0
May 2013
Deputy General From 17 May 2010 to 17
Yin Lihou Male 48 0 0
Manager May 2013
Deputy General From 17 May 2010 to 17
Xu Yi Male 48 0 0
Manager May 2013
Deputy General From 17 May 2010 to 17
Ni Shiyuan Male 56 0 0
Manager May 2013
Deputy General From 31 Dec. 2011 to 17
Liu Xiaoyun Male 50 0 0
Manager May 2013
Chairman of the
Supervisory From 17 May 2010 to 17
Lv Weimin Male 58 0 0
Committee, Secretary May 2013
of Party Committee
Yuan Femal From 17 May 2010 to 17
Supervisor 49 0 0
Xiaodong e May 2013
From 17 May 2010 to 17
Ni Mingliang Supervisor Male 45 0 0
May 2013
From 17 May 2010 to 17
Lu Zhonggui Supervisor Male 45 0 0
May 2013
From 17 May 2010 to 17
Wu Keyun Supervisor Male 48 0 0
May 2013
V. Report of the Board of Directors
（I）Main business lines classified by industries and products
Unit: RMB Yuan
Main business lines classified by industries
Increase/decrease Increase/decrease
Increase/decrease
of operating of gross profit
of operating cost
Operating Gross profit rate revenue rate compared
Industries Operating cost compared with
revenue (%) compared with with the same
the same period
the same period period last year
last year (%)
last year (%) (%)
Diesel engines
1,567,714,421.37 1,443,552,908.36 7.92 -7.09 -7.19 0.09
and fittings
Main business lines classified by products
Increase/decrease Increase/decrease
Increase/decrease
of operating of gross profit
of operating cost
Operating Gross profit rate revenue rate compared
Products Operating cost compared with
revenue (%) compared with with the same
the same period
the same period period last year
last year (%)
last year (%) (%)
Diesel engines
1,567,714,421.37 1,443,552,908.36 7.92 -7.09 -7.19 0.09
and fittings
Explanation to the reasons for any significant year-on-year change of the gross profit rate:
（II）Main business lines classified by regions
Unit: RMB Yuan
Region Operating revenue Increase/decrease compared with the same
period last year (%)
East China 778,764,744.57 -2.18
Northeast China 82,503,124.63 7.19
Southwest China 158,542,506.44 8.33
Central China 176,067,223.19 -20.46
North China 89,884,109.80 -14.46
Northwest China 72,965,341.01 30.40
South China 119,240,235.58 -21.04
Export 89,747,136.15 -33.28
（III）Reasons for any significant change in main business and its structure
□Applicable √Inapplicable
（IV）Reasons of significant changes in profitability of main business (gross profit rate)
compared with that in the last year
□Applicable √Inapplicable
（V）Analysis on reasons of significant changes in profit breakdown compared with the last
year
□Applicable √Inapplicable
（VI）Particulars about utilization of the raised funds
1. Utilization of the raised funds
□Applicable √Inapplicable
2. Change of projects invested with raised funds
□Applicable √Inapplicable
（VII）Revision of the Board of Directors’ business plan for the second half of the year
□Applicable √Inapplicable
（VIII）Business performance estimate for Jan.-Sept. 2012
Warnings of estimated possible losses or major changes of the accumulative net profit achieved during the period
from the beginning of the year to the end of the next reporting period compared with the same period of last year,
as well as the reasons
□Applicable √Inapplicable
（IX）Explanation of the Board of Directors on “Non-standard Auditing Report” issued by
the CPA firm for the reporting period
□Applicable √Inapplicable
（X）Explanation of the Board of Directors on changes and solutions of the issues involved in
the “Non-standard Auditing Report” issued by the CPA firm for last year
□Applicable √Inapplicable
VI. Significant Events
（I）Purchase, sales and reorganization of assets
1. Purchase of assets
□Applicable √Inapplicable
2. Sale of assets
□Applicable √Inapplicable
3. Progress of these events after the publication of the assets reorganization report or public notices on the
purchases or sales of assets, as well as the influences of these events on the operation results and financial
status of the Company in this reporting period
□Applicable √Inapplicable
（II）Guarantee events
√Applicable □Inapplicable
Unit: RMB Ten thousand
Guarantees provided by the Company for external parties (excluding those for subsidiaries)
Disclosure Guarante
Actual
date of Actual e for a
Amount for occurrence date Type of Period of Executed
Guaranteed party relevant guarantee related
guarantee (date of guarantee guarantee or not
announceme amount party or
agreement)
nt not
Total external guarantee line Total actual occurred amount
approved during the reporting 0 of external guarantee during 0
period (A1) the reporting period (A2)
Total external guarantee line that Total actual external guarantee
has been approved at the end of the 0 balance at the end of the 0
reporting period (A3) reporting period (A4)
Guarantees provided by the Company for its subsidiaries
Disclosure Guarante
date of Actual occurrence e for a
Amount for Actual guarantee Type of Period of Executed
Guaranteed party relevant date (date of related
guarantee amount guarantee guarantee or not
announceme agreement) party or
nt not
Changzhou
Changchai Benniu
2200 22 Mar. 2011 2200 Credit One year Yes No
Diesel Engine
Fittings Co., Ltd
Total guarantee line approved for Total actual occurred amount
the subsidiaries during the of guarantee for the
reporting period 0 0
subsidiaries during the
(B1) reporting period (B2)
Total guarantee line that has been Total actual guarantee balance
approved for the subsidiaries at the 0 for the subsidiaries at the end 0
end of the reporting period (B3) of the reporting period (B4)
Total guarantee amount provided by the Company (total of the above-mentioned two kinds of guarantees)
Total guarantee line approved Total actual occurred amount
during the reporting period 0 of guarantee during the 0
(A1+B1) reporting period (A2+B2)
Total guarantee line that has been
approved at the end of the reporting Total actual guarantee balance
period 0 at the end of the reporting 0
period (A4+B4)
(A3+B3)
Proportion of total guarantee amount (A4+B4) to the net assets of
0
the Company
Of which:
Amount of guarantee for shareholders, actual controller and
0
related parties (C)
Amount of debt guarantee provided for the guaranteed party
whose asset-liability ratio is not less than 70% directly or 0
indirectly (D)
Part of the amount of the total guarantee over 50% of net assets
0
(E)
Total amount of the above three guarantees (C+D+E) 0
Explanation on possible bearing joint responsibility of liquidation
Naught
due to immature guarantee
Explanation on provision of guarantees for external parties in
Naught
violation of the prescribed procedure
（III）Non-operating credits and liabilities with related parties
□Applicable √Inapplicable
（IV）Significant lawsuits and arbitrations
√Applicable □Inapplicable
Basic Amount involved
Trial result and Execution of the Disclosure date
Type of the information in the Progress of the Serial No. of the
Party with joint influence of the judge of the of the relevant
Complainant Respondent lawsuit/arbitratio about the lawsuit/arbitratio lawsuit/arbitratio relevant interim
responsibility lawsuit/arbitratio lawsuit/arbitratio interim
n lawsuit/arbitratio n (RMB Ten n announcement
n n announcement
n thousand)
Changchai In the process of
Shandong Hongli
Company, 1436 liquidation and
Group Co., Ltd.
Limited bankruptcy
Changzhou
Changchai Changchai In the process of 31 Dec. 2011, 13 2011-015
Company, Benniu Diesel retrial, with no Apr. 2012, 5 2012-003
Limited Engine Fittings judge yet May 2012 2012-008
Co., Ltd
Details of the significant lawsuits and arbitrations:
1. About the lawsuit case of Shandong Hongli Group Co., Ltd., the accused company owed accumulatively RMB 14.36 million to the Company. The Company sued
to Changzhou Intermediate People’s Court in 2001 and sued for compulsory execution in April, 2002. Currently, the defendant has started the bankruptcy procedure.
2. Changchai Benniu Diesel Engine Fittings Co., Ltd. (Changchai Benniu) is the controlled subsidiary of the Company with a register capital of RMB 33,786,400, of
which the Company invested RMB 25,339,800, accounting for 75% of the total register capital, while the natural person of Qiang Jinlong invested RMB 8,446,600,
accounting for 25% of the total register capital. In accordance with the provisions of Articles of Association of the Company, the term of operation of Changchai
Benniu Diesel Engine Fittings Co., Ltd. was from 17 Jun. 1996 to 16 Jun. 2011.
Changchai Benniu Diesel Engine Fittings Co., Ltd. convened the First Special Shareholders’ General Meeting for 2011 on 19 Jul. 2011, at which reviewed the
Proposal on Extending the Term of Operation and Revising the Articles of Association for Changchai Benniu Diesel Engine Fittings Co., Ltd., making a Resolution
on Extending the Term of Operation from 17 Jun. 2011 to 16 Jun. 2026 for Changchai Benniu Diesel Engine Fittings Co., Ltd.. The Company believes that the
resolution is effective, which has a restraint on the shareholders. However, the third party of Qiang Jinlong always denies the effectiveness of the resolution made at
the session. Therefore, the Company sued to Changzhou Wujin District People’s Court on 28 Dec. 2011, appealing the court to confirm the effectiveness and legality
of the resolution made at the First Special Shareholders’ General Meeting for 2011, extending the term of operation to 16 Jun. 2026 for Changchai Benniu Diesel
Engine Fittings Co., Ltd..
On 9 Apr. 2012, Changzhou Wujin District People’s Court issued a Civil Judgment ([2012] WSC Zi No. 25), deciding that it was in line with relevant laws and
regulation for the appeal of the Company on confirming the effectiveness and legality of the resolution made at the First Special Shareholders’ General Meeting for
2011 convened by Changchai Benniu Diesel Engine Fittings Co., Ltd. on 19 Jul. 2011, thus the court supported it. And it was legal and effective for the resolution
made at the shareholders’ general meeting, which was about “the original Article 4 of the Articles of Association stipulated the term of joint operation with
shareholders was from 17 Jun. 1996 to 16 Jun. 2011, and now extending the term for 15 years, i.e. from 17 Jun. 2011 to 16 Jun. 2026”.
Changzhou Wujin Administration for Industry & Commerce issued the Business License for Enterprise of Changchai Benniu Diesel Engine Fittings Co., Ltd. on 20
Apr. 2012, with the term of operation from 17 Jun. 1996 to 16 Jun. 2026.
Qiang Jinlong refused to accept the court decision as final. He appealed to Changzhou Intermediary People’s Court, which opened a court session on 27 Jun. 2012 to
try this case. No verdict has been reached so far.
（V）Other significant events as well as analysis and explanations on their impact and
solutions
√Applicable □Inapplicable
1. Securities investment
√Applicable □Inapplicable
Proportion in
Initial Number of Closing the total Gain/loss in
Serial Variety of Code of Abbr. of investment shares held at carrying closing the reporting
No. securities securities securities amount the amount securities period (RMB
(RMB Yuan) period-end (RMB Yuan) investment Yuan)
amount (%)
Other securities investments held at the period-end 0 -- 0 0 0
Gain/loss on selling securities in the reporting period -- -- -- -- 230,463.19
Total 0 -- 0 100% 230,463.19
Disclosure date of the board announcement of securities
investment approval
Disclosure date of the general meeting announcement of
securities investment approval
Notes to securities investment: Securities investment gains during the reporting period came from the new shares
subscribed by Changzhou Housheng Investment Co., Ltd., the Company’s wholly-funded subsidiary.
2. Holding equity of other listed companies
√Applicable □Inapplicable
Proportion in Change of
Initial Gain/loss in
the Closing carrying owners’ equity
investment the reporting Accounting
Stock code Stock abbr. company’s amount (RMB during the Stock source
amount (RMB period (RMB title
total equity Yuan) reporting period
Yuan) Yuan)
(%) (RMB Yuan)
By
Financial exchanging
assets assets with
600166 Foton Motor 41,782,175.00 3.42% 516,587,500.00 0.00 82,292,750.00
available for Changchai
sale Group in
1999
Financial
Ninghu assets By transfer
600377 90,500.00 293,500.00 0.00 7,650.00
Expressway available for on agreement
sale
Total 41,872,675.00 -- 516,881,000.00 0.00 82,300,400.00 --
Notes to holding equity of other listed companies: The Company holds 72.25 million shares of Foton Motor and
50,000 shares of Ninghu Expressway.
13
3. Capital occupation during the reporting period and debt-clearing progress
□Applicable √Inapplicable
The accountability plan put forward by the Board of Directors when the Company had not completed collecting
the capital occupied for non-operating purposes by the end of the reporting period
□Applicable √Inapplicable
4. Fulfillment of commitments
Commitments made by the Company, its directors, supervisors, senior management, shareholders holding more
than 5% shares of the Company, actual controller or any other relevant party in this reporting period, or such
commitments carried down into this reporting period
□Applicable √Inapplicable
5. Pre-plan of the Board of Directors for profit distribution or turning capital reserves into share capital
□Applicable √Inapplicable
6. Items of other comprehensive income
Unit: RMB Yuan
Items This reporting period Same period of last year
1. Profits/(losses) from available-for-sale financial assets 96,824,000.00 -250,046,500.00
Less: Effects on income tax generating from available-for-sale
financial assets
14,523,600.00 -37,506,975.00
Net amount transferred into profit and loss in the current period that
recognized into other comprehensive income in prior period
Subtotal 82,300,400.00 -212,539,525.00
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 -1,481.92
Less: Net value of disposal of oversea operations that recognized into
current profit and loss
Subtotal -1,481.92
5. Other
Less: Effects on income tax generating from the others that included
14
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 82,298,918.08 -212,539,525.00
（VI）Particulars about researches, visits and interviews received in this reporting period
Main discussion and
Type of the
Time of reception Place of reception Way of reception Visitor/caller materials provided by the
visitor/caller
Company
Main operation status of
23 Feb. 2012 The Company By phone Individual Investor
the Company
Main operation status of
18 Apr. 2012 The Company By phone Individual Investor
the Company
Main operation status of
24 May 2012 The Company By phone Individual Investor
the Company
15
VII. Financial Report
（I）Audit opinion
Has this interim report been audited?
□ Yes √ No
（II）Financial statements
Consolidated statements or not?
√ Yes □ No
1. Consolidated balance sheet
Prepared by Changchai Company, Limited
Unit: RMB Yuan
Item Note Closing balance Opening balance
Current Assets:
Monetary funds 663,396,846.56 553,742,666.81
Settlement reserves
Intra-group lendings
Transactional financial assets
Notes receivable 143,007,349.44 181,698,938.60
Accounts receivable 442,072,620.04 360,837,278.55
Accounts paid in advance 34,954,124.65 42,882,876.51
Premiums receivable
Reinsurance premiums receivable
Receivable reinsurance contract
reserves
Interest receivable
Dividend receivable
Other accounts receivable 22,089,519.44 11,062,647.69
Financial assets purchased under
agreements to resell
Inventories 387,468,266.85 471,067,741.38
Non-current assets due within 1
year
Other current assets 85,122.78
Total current assets 1,693,073,849.76 1,621,292,149.54
Non-current assets:
Loans by mandate and advances
granted
Available-for-sale financial assets 516,881,000.00 420,057,000.00
Held-to-maturity investments
Long-term accounts receivable
16
Long-term equity investment 63,816,940.34 63,763,414.34
Investing property 65,010,222.83 66,114,393.23
Fixed assets 522,424,284.76 428,903,574.63
Construction in progress 134,606,017.26 180,718,077.33
Engineering materials
Disposal of fixed assets
Production biological assets
Oil-gas assets
Intangible assets 87,195,345.14 88,327,078.34
R&D expense
Goodwill
Long-term deferred expenses
Deferred income tax assets 912,707.32 912,707.32
Other non-current assets
Total of non-current assets 1,390,846,517.65 1,248,796,245.19
Total assets 3,083,920,367.41 2,870,088,394.73
Current liabilities:
Short-term borrowings 40,000,000.00 37,000,000.00
Borrowings from Central Bank
Customer bank deposits and due
to banks and other financial
institutions
Intra-group borrowings
Transactional financial liabilities
Notes payable 314,773,964.00 278,080,000.00
Accounts payable 564,104,205.56 495,048,237.44
Accounts received in advance 68,616,602.09 64,357,833.51
Financial assets sold for
repurchase
Handling charges and
commissions payable
Employee’s compensation
payable 17,119,284.05 45,290,276.02
Tax payable -42,955,039.99 -61,296,208.84
Interest payable
Dividend payable 7,261,388.55 3,891,433.83
Other accounts payable 139,653,791.36 128,410,363.38
Reinsurance premiums payable
Insurance contract reserves
Payables for acting trading of
securities
Payables for acting underwriting
of securities
Non-current liabilities due within
1 year 30,000,000.00
Other current liabilities 778,963.63 1,203,137.39
Total current liabilities 1,109,353,159.25 1,021,985,072.73
Non-current liabilities:
Long-term borrowings
17
Bonds payable
Long-term payables
Specific payables
Estimated liabilities
Deferred income tax liabilities 71,250,975.00 56,727,375.00
Other non-current liabilities 34,564,420.07 34,962,420.07
Total non-current liabilities 105,815,395.07 91,689,795.07
Total liabilities 1,215,168,554.32 1,113,674,867.80
Owners’ equity (or shareholders’
equity)
Paid-up capital (or share capital) 561,374,326.00 561,374,326.00
Capital reserves 577,120,648.76 494,820,248.76
Less: Treasury stock
Specific reserves
Surplus reserves 277,156,622.37 277,156,622.37
Provisions for general risks
Retained profits 439,170,749.05 409,368,310.58
Foreign exchange difference -1,481.92 -17,840.00
Total equity attributable to owners
of the Company 1,854,820,864.26 1,742,701,667.71
Minority interests 13,930,948.83 13,711,859.22
Total owners’ (or shareholders’)
equity 1,868,751,813.09 1,756,413,526.93
Total liabilities and owners’ (or
shareholders’) equity 3,083,920,367.41 2,870,088,394.73
Legal representative: Xue Guojun Person-in-charge of the accounting work: He Jianguang
Chief of the accounting division: Jiang He
2. Balance sheet of the Company
Unit: RMB Yuan
Item Note Closing balance Opening balance
Current Assets:
Monetary funds 584,191,639.04 523,688,773.83
Transactional financial assets
Notes receivable 143,007,349.44 176,278,938.60
Accounts receivable 410,420,932.45 325,793,527.31
Accounts paid in advance 14,525,843.56 20,811,380.78
Interest receivable
Dividend receivable
Other accounts receivable 58,673,840.23 9,201,636.94
Inventories 315,955,142.47 401,674,909.70
Non-current assets due within 1
year
Other current assets
Total current assets 1,526,774,747.19 1,457,449,167.16
Non-current assets:
18
Available-for-sale financial assets 516,881,000.00 420,057,000.00
Held-to-maturity investments
Long-term accounts receivable
Long-term equity investment 134,235,180.34 134,181,654.34
Investing property 65,010,222.83 66,114,393.23
Fixed assets 471,859,068.77 376,208,390.40
Construction in progress 90,513,447.34 161,315,910.30
Engineering materials
Disposal of fixed assets
Production biological assets
Oil-gas assets
Intangible assets 85,054,308.80 86,157,776.66
R&D expense
Goodwill
Long-term deferred expenses
Deferred income tax assets 912,707.32 912,707.32
Other non-current assets
Total of non-current assets 1,364,465,935.40 1,244,947,832.25
Total assets 2,891,240,682.59 2,702,396,999.41
Current liabilities:
Short-term borrowings
Transactional financial liabilities
Notes payable 307,773,964.00 271,080,000.00
Accounts payable 496,167,927.82 441,996,929.38
Accounts received in advance 65,905,321.41 64,183,951.63
Employee’s compensation
payable 13,149,616.46 40,157,951.71
Tax payable -36,072,237.55 -56,938,401.59
Interest payable
Dividend payable 6,613,134.69 3,243,179.97
Other accounts payable 130,674,958.75 125,268,578.76
Non-current liabilities due within
1 year 30,000,000.00
Other current liabilities
Total current liabilities 984,212,685.58 918,992,189.86
Non-current liabilities:
Long-term borrowings
Bonds payable
Long-term payables
Specific payables
Estimated liabilities
Deferred income tax liabilities 71,250,975.00 56,727,375.00
Other non-current liabilities 34,564,420.07 34,962,420.07
Total non-current liabilities 105,815,395.07 91,689,795.07
Total liabilities 1,090,028,080.65 1,010,681,984.93
Owners’ equity (or shareholders’
equity)
19
Paid-up capital (or share capital) 561,374,326.00 561,374,326.00
Capital reserves 586,799,834.95 504,499,434.95
Less: Treasury stock
Specific reserves
Surplus reserves 277,156,622.37 277,156,622.37
Retained profits 375,881,818.62 348,684,631.16
Foreign exchange difference
Total owners’ (or shareholders’)
equity 1,801,212,601.94 1,691,715,014.48
Total liabilities and owners’ (or
shareholders’) equity 2,891,240,682.59 2,702,396,999.41
3. Consolidated income statement
Unit: RMB Yuan
Item Note Jan.-Jun. 2012 Jan.-Jun. 2011
I. Total operating revenues 1,599,480,212.75 1,702,548,109.24
Including: Sales income 1,599,480,212.75 1,702,548,109.24
Interest income
Premium income
Handling charge and
commission income
II. Total operating cost 1,577,236,465.99 1,671,832,162.82
Including: Cost of sales 1,472,951,393.72 1,563,753,985.22
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 161,974.43 313,245.25
Selling and distribution
expenses 58,416,299.71 53,181,896.91
Administrative expenses 48,141,907.24 59,829,955.18
Financial expenses -6,657,859.42 -5,675,460.45
Asset impairment loss 4,222,750.31 428,540.71
Add: Gain/(loss) from change in fair
value (“-” means loss) -66,665.37
Gain/(loss) from investment
(“-” means loss) 8,953,989.19 10,282,311.20
Including: share of profits in
associates and joint ventures
Foreign exchange gains (“-” means
loss)
III. Business profit (“-” means loss) 31,197,735.95 40,931,592.25
Add: non-operating income 7,109,940.84 9,002,588.33
20
Less: non-operating expense 2,779,218.80 2,376,030.59
Including: loss from non-current
601,158.15 679.50
asset disposal
IV. Total profit (“-” means loss) 35,528,457.99 47,558,149.99
Less: Income tax expense 5,506,929.91 9,631,166.60
V. Net profit (“-” means loss) 30,021,528.08 37,926,983.39
Including: Net profit achieved
by combined parties before the
combinations
Attributable to owners of the
Company 29,802,438.47 37,156,614.70
Minority shareholders’ income 219,089.61 770,368.69
VI. Earnings per share -- --
(I) Basic earnings per share 0.05 0.07
(II) Diluted earnings per share 0.05 0.07
Ⅶ. Other comprehensive incomes 82,298,918.08 -212,539,525.00
Ⅷ. Total comprehensive incomes 112,320,446.16 -174,612,541.61
Attributable to owners of the
112,101,356.55 -175,382,910.30
Company
Attributable to minority
770,368.69
shareholders 219,089.61
Legal representative: Xue Guojun Person-in-charge of the accounting work: He Jianguang
Chief of the accounting division: Jiang He
4. Income statement of the Company
Unit: RMB Yuan
Item Note Jan.-Jun. 2012 Jan.-Jun. 2011
I. Total sales 1,607,060,158.74 1,698,786,025.65
Less: cost of sales 1,496,934,202.57 1,576,529,249.38
Business taxes and surcharges
Distribution expenses 54,949,176.66 50,057,012.94
Administrative expenses 41,350,985.75 51,705,886.62
Financial costs -8,156,193.81 -6,084,501.00
Impairment loss 2,873,555.97 305,531.70
Add: gain/(loss) from change in fair
value (“-” means loss)
Gain/(loss) from investment (“-”
means loss) 8,723,526.00 10,115,000.00
Including: income form investment
on associates and joint ventures
II. Business profit (“-” means loss) 27,831,957.60 36,387,846.01
Add: non-business income 6,872,462.11 8,834,166.57
Less: non-business expense 2,749,218.80 2,360,206.85
Including: loss from non-current
asset disposal
III. Total profit (“-” means loss) 31,955,200.91 42,861,805.73
Less: income tax expense 4,758,013.45 8,205,050.82
21
IV. Net profit (“-” means loss) 27,197,187.46 34,656,754.91
V. Earnings per share -- --
(I) Basic earnings per share
(II) Diluted earnings per share
VI. Other comprehensive income 82,298,918.08 -212,539,525.00
VII. Total comprehensive income 109,496,105.54 -177,882,770.09
5. Consolidated cash flow statement
Unit: RMB Yuan
Item Jan.-Jun. 2012 Jan.-Jun. 2011
I. Cash flows from operating activities:
Cash received from sale of
commodities and rendering of service 1,748,751,589.44 1,742,112,976.28
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 intra-group
borrowings
Net increase of funds in repurchase
business
Tax refunds received 26,359,104.71 24,805,590.94
Other cash received relating to
operating activities 16,512,408.28 15,950,302.31
Subtotal of cash inflows from operating
activities 1,791,623,102.43 1,782,868,869.53
Cash paid for goods and services 1,380,761,003.27 1,605,540,702.84
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 153,967,006.79 146,277,793.39
Various taxes paid 9,539,003.49 34,717,093.95
22
Other cash payment relating to
operating activities 39,486,930.25 44,985,280.87
Subtotal of cash outflows from
operating activities 1,583,753,943.80 1,831,520,871.05
Net cash flows from operating activities 207,869,158.63 -48,652,001.52
II. Cash flows from investing activities:
Cash received from withdrawal of
investments 15,486,490.34 232,202.20
Cash received from return on
investments 8,900,463.19 10,312,803.27
Net cash received from disposal of
fixed assets, intangible assets and other
long-term assets 2,964,690.64 20,297,786.84
Net cash received from disposal of
subsidiaries or other business units
Other cash received relating to
investing activities 52,189.02
Subtotal of cash inflows from
investing activities 27,351,644.17 30,894,981.33
Cash paid to acquire fixed assets,
intangible assets and other long-term
assets 83,862,517.79 66,890,197.14
Cash paid for investment 15,119,437.12 663,948.24
Net increase of pledged loans
Net cash paid to acquire subsidiaries
and other business units
Other cash payments relating to
investing activities 10,000,000.00
Subtotal of cash outflows from
investing activities 108,981,954.91 67,554,145.38
Net cash flows from investing activities -81,630,310.74 -36,659,164.05
III. Cash Flows from Financing
Activities:
Cash received from capital
contributions
Including: Cash received from
minority shareholder investments by
subsidiaries
Cash received from borrowings 33,000,000.00 43,500,000.00
Cash received from issuance of
bonds
Other cash received relating to
financing activities 0.00
Subtotal of cash inflows from financing
activities 33,000,000.00 43,500,000.00
Repayment of borrowings 60,000,000.00 32,000,000.00
Cash paid for interest expenses and
distribution of dividends or profit 10,463,297.14 2,608,302.74
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 70,463,297.14 34,608,302.74
23
Net cash flows from financing activities -37,463,297.14 8,891,697.26
IV. Effect of foreign exchange rate
changes on cash and cash equivalents -1,481.92
V. Net increase in cash and cash
equivalents 88,774,068.83 -76,419,468.31
Add: Opening balance of cash and
cash equivalents 470,293,043.20 763,106,649.01
VI. Closing balance of cash and cash
equivalents 559,067,112.03 686,687,180.70
6. Cash flow statement of the Company
Unit: RMB Yuan
Item Jan.-Jun. 2012 Jan.-Jun. 2011
I. Cash flows from operating activities:
Cash received from sale of
commodities and rendering of service 1,731,463,226.76 1,739,971,070.13
Tax refunds received 25,094,793.80 24,805,590.94
Other cash received relating to
operating activities 15,664,736.12 14,233,689.48
Subtotal of cash inflows from operating
activities 1,772,222,756.68 1,779,010,350.55
Cash paid for goods and services 1,409,751,006.75 1,632,168,132.83
Cash paid to and for employees 138,645,503.69 130,085,632.70
Various taxes paid 6,611,058.31 28,995,696.24
Other cash payment relating to
operating activities 32,645,603.38 41,143,545.90
Subtotal of cash outflows from
operating activities 1,587,653,172.13 1,832,393,007.67
Net cash flows from operating activities 184,569,584.55 -53,382,657.12
II. Cash flows from investing activities:
Cash received from retraction of
investments
Cash received from return on
investments 8,670,000.00 10,115,000.00
Net cash received from disposal of
fixed assets, intangible assets and other
long-term assets 2,921,547.76 20,143,379.50
Net cash received from disposal of
subsidiaries or other business units
Other cash received relating to
investing activities
Subtotal of cash inflows from
investing activities 11,591,547.76 30,258,379.50
Cash paid to acquire fixed assets,
intangible assets and other long-term
assets 68,072,114.90 50,816,604.10
Cash paid for investment
Net cash paid to acquire subsidiaries
and other business units
Other cash payments relating to
investing activities 50,000,000.00
Subtotal of cash outflows from 118,072,114.90 50,816,604.10
24
investing activities
Net cash flows from investing activities -106,480,567.14 -20,558,224.60
III. Cash Flows from Financing
Activities:
Cash received from capital
contributions
Cash received from borrowings
Other cash received relating to
financing activities
Subtotal of cash inflows from financing
activities
Repayment of borrowings 30,000,000.00
Cash paid for interest expenses and
distribution of dividends or profit 8,466,263.12 1,228,985.37
Other cash payments relating to
financing activities
Sub-total of cash outflows from
financing activities 38,466,263.12 1,228,985.37
Net cash flows from financing activities -38,466,263.12 -1,228,985.37
IV. Effect of foreign exchange rate
changes on cash and cash equivalents
V. Net increase in cash and cash
equivalents 39,622,754.29 -75,169,867.09
Add: Opening balance of cash and
cash equivalents 440,239,150.22 727,580,790.13
VI. Closing balance of cash and cash
equivalents 479,861,904.51 652,410,923.04
7. Consolidated statement of changes in owners’ equity
Reporting period
Unit: RMB Yuan
Reporting period
Equity attributable to owners of the Company
Paid-up Total
Item Less: General Minority
capital owners’
Capital Specific Surplus Retaine interests
(or treasury risk Others equity
reserve reserve reserve d profit
share stock reserve
capital)
I. Balance at the end of the 561,374 494,820, 277,156 409,368, -17,840. 13,711,85 1,756,413,
previous year ,326.00 248.76 ,622.37 310.58 00 9.22 526.93
Add: change of accounting
policy
Correction of errors in
previous periods
Other
II. Balance at the beginning of 561,374 494,820, 277,156 409,368, -17,840. 13,711,85 1,756,413,
the year ,326.00 248.76 ,622.37 310.58 00 9.22 526.93
III. Increase/ decrease of
82,300,4 29,802,4 16,358.0 219,089.6 112,338,28
amount in the year (“-” means
00.00 38.47 8 1 6.16
decrease)
29,802,4 219,089.6 30,021,528
(I) Net profit
38.47 1 .08
(II) Other comprehensive 82,300,4 16,358.0 82,316,758
25
incomes 00.00 8 .08
82,300,4 29,802,4 16,358.0 219,089.6 112,338,28
Subtotal of (I) and (II)
00.00 38.47 8 1 6.16
(III) Capital paid in and
reduced by owners
1. Capital paid in by
owners
2. Amounts of share-based
payments recognized in
owners’ equity
3. Others
(IV) Profit distribution
1. Appropriations to
surplus reserves
2. Appropriations to
general risk provisions
3. Appropriations to
owners (or shareholders)
4. Other
(V) Internal carry-forward of
owners’ equity
1. New increase of capital
(or share capital) from capital
public reserves
2. New increase of capital
(or share capital) from surplus
reserves
3. Surplus reserves for
making up losses
4. Other
(Ⅵ) Specific reserve
1. Withdrawn for the
period
2. Used in the period
(Ⅶ) Other
561,374 577,120, 277,156 439,170, -1,481.9 13,930,94 1,868,751,
IV. Closing balance
,326.00 648.76 ,622.37 749.05 2 8.83 813.09
Last year
Unit: RMB Yuan
Last year
Equity attributable to owners of the Company
Paid-up Total
Item Less: General Minority
capital owners’
Capital Specific Surplus Retaine interests
(or treasury risk Others equity
reserve reserve reserve d profit
share stock reserve
capital)
I. Balance at the end of the 561,374 883,601, 273,072 360,595, 12,294,22 2,090,938,
previous year ,326.00 748.76 ,577.59 476.29 9.26 357.90
Add: retrospective
adjustments due to business
combinations under the same
control
Add: change of accounting
policy
26
Correction of errors in
previous periods
Other
II. Balance at the beginning of 561,374 883,601, 273,072 360,595, 12,294,22 2,090,938,
the year ,326.00 748.76 ,577.59 476.29 9.26 357.90
III. Increase/ decrease of
-388,78 4,084,0 48,772,8 -17,840. 1,417,629 -334,524,8
amount in the year (“-” means
1,500.00 44.78 34.29 00 .96 30.97
decrease)
52,856,8 1,417,629 54,274,509
(I) Net profit
79.07 .96 .03
(II) Other comprehensive -388,78 -17,840. -388,799,3
incomes 1,500.00 00 40.00
-388,78 52,856,8 -17,840. 1,417,629 -334,524,8
Subtotal of (I) and (II)
1,500.00 79.07 00 .96 30.97
(III) Capital paid in and
reduced by owners
1. Capital paid in by
owners
2. Amounts of share-based
payments recognized in
owners’ equity
3. Others
4,084,0 -4,084,0
(IV) Profit distribution
44.78 44.78
1. Appropriations to 4,084,0 -4,084,0
surplus reserves 44.78 44.78
2. Appropriations to
general risk provisions
3. Appropriations to
owners (or shareholders)
4. Other
(V) Internal carry-forward of
owners’ equity
1. New increase of capital
(or share capital) from capital
public reserves
2. New increase of capital
(or share capital) from surplus
reserves
3. Surplus reserves for
making up losses
4. Other
(Ⅵ) Specific reserve
1. Withdrawn for the
period
2. Used in the period
(Ⅶ) Other
561,374 494,820, 277,156 409,368, -17,840. 13,711,85 1,756,413,
IV. Closing balance
,326.00 248.76 ,622.37 310.58 00 9.22 526.93
8. Statement of changes in owners’ equity of the Company
Reporting period
Unit: RMB Yuan
27
Reporting period
Paid-up
Item Less: General Total
capital (or Capital Specific Surplus Retained
treasury risk owners’
share reserve reserve reserve profit
stock reserve equity
capital)
I. Balance at the end of the 561,374,32 504,499,43 277,156,62 348,684,63 1,691,715,
previous year 6.00 4.95 2.37 1.16 014.48
Add: change of accounting
policy
Correction of errors in
previous periods
Other
II. Balance at the beginning of 561,374,32 504,499,43 277,156,62 348,684,63 1,691,715,
the year 6.00 4.95 2.37 1.16 014.48
III. Increase/ decrease of amount 82,300,400 27,197,187 109,497,58
in the year (“-” means decrease) .00 .46 7.46
27,197,187 27,197,187
(I) Net profit
.46 .46
(II) Other comprehensive 82,300,400 82,300,400
incomes .00 .00
82,300,400 27,197,187 109,497,58
Subtotal of (I) and (II)
.00 .46 7.46
(III) Capital paid in and
reduced by owners
1. Capital paid in by owners
2. Amounts of share-based
payments recognized in owners’
equity
3. Others
(IV) Profit distribution
1. Appropriations to surplus
reserves
2. Appropriations to general
risk provisions
3. Appropriations to owners
(or shareholders)
4. Other
(V) Internal carry-forward of
owners’ equity
1. New increase of capital
(or share capital) from capital
public reserves
2. New increase of capital
(or share capital) from surplus
reserves
3. Surplus reserves for
making up losses
4. Other
(Ⅵ) Specific reserve
1. Withdrawn for the period
2. Used in the period
(Ⅶ) Other
561,374,32 586,799,83 277,156,62 375,881,81 1,801,212,
IV. Closing balance
6.00 4.95 2.37 8.62 601.94
28
Last year
Unit: RMB Yuan
Last year
Paid-up
Item Less: General Total
capital (or Capital Specific Surplus Retained
treasury risk owners’
share reserve reserve reserve profit
stock reserve equity
capital)
I. Balance at the end of the 561,374,32 893,280,93 273,072,57 311,928,22 2,039,656,
previous year 6.00 4.95 7.59 8.16 066.70
Add: change of accounting
policy
Correction of errors in
previous periods
Other
II. Balance at the beginning of 561,374,32 893,280,93 273,072,57 311,928,22 2,039,656,
the year 6.00 4.95 7.59 8.16 066.70
III. Increase/ decrease of amount -388,781,5 4,084,044. 36,756,403 -347,941,0
in the year (“-” means decrease) 00.00 78 .00 52.22
40,840,447 40,840,447
(I) Net profit
.78 .78
(II) Other comprehensive -388,781,5 -388,781,5
incomes 00.00 00.00
-388,781,5 40,840,447 -347,941,0
Subtotal of (I) and (II)
00.00 .78 52.22
(III) Capital paid in and
reduced by owners
1. Capital paid in by owners
2. Amounts of share-based
payments recognized in owners’
equity
3. Others
4,084,044. -4,084,044.
(IV) Profit distribution
78 78
1. Appropriations to surplus 4,084,044. -4,084,044.
reserves 78 78
2. Appropriations to general
risk provisions
3. Appropriations to owners
(or shareholders)
4. Other
(V) Internal carry-forward of
owners’ equity
1. New increase of capital
(or share capital) from capital
public reserves
2. New increase of capital
(or share capital) from surplus
reserves
3. Surplus reserves for
making up losses
4. Other
(Ⅵ) Specific reserve
1. Withdrawn for the period
2. Used in the period
29
(Ⅶ) Other
561,374,32 504,499,43 277,156,62 348,684,63 1,691,715,
IV. Closing balance
6.00 4.95 2.37 1.16 014.48
（III）Notes to the financial statements
1. Changes in main accounting policies or estimates, correction of any significant accounting error and the
influenced amounts
（1）Change of accounting policies
Were the main accounting policies changed during the reporting period?
□ Yes √ No
（2）Change of accounting estimates
Were the main accounting estimates changed during the reporting period?
□ Yes √ No
（3）Correction of accounting errors
Was any accounting error made in previous periods discovered in the reporting period?
□ Yes √ No
2. Reasons for any change of the consolidation scope
□Applicable √Inapplicable
3. If a non-standard audit report is issued, the Company should make relevant notes.
□Applicable √Inapplicable
30
