Report for the First Quarter of 2015 of Changchai Company, Limited
Changchai Company, Limited
Report for the First Quarter of 2015
Apr. 2015
1
Report for the First Quarter of 2015 of Changchai Company, Limited
Section I. Important Reminders
The Board of Directors, the Supervisory Committee, directors, supervisors and senior management staff of
Changchai Company, Limited (hereinafter referred to as “the Company”) warrant that the information
carried in this report is factual, accurate and complete, without any false record, misleading statement or
material omission. And they shall be jointly and severally liable for that.
Xue Guojun, company principal, He Jianguang, chief of the accounting work, and Jiang He, chief of the
accounting organ (chief of accounting), hereby confirm that the financial statements enclosed in this report
are factual, accurate and complete.
All directors have attended the board session for reviewing this report.
This report is prepared in both Chinese and English. Should there be any discrepancy between the two
versions, the Chinese version shall prevail.
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Report for the First Quarter of 2015 of Changchai Company, Limited
Section II. Financial Highlights & Change of Shareholders
I. Main accounting data and financial indicators
Does the Company adjust retrospectively or restate accounting data of previous years due to change of the
accounting policy or correction of any accounting error?
□ Yes √ No
Jan.-Mar. 2015 Jan.-Mar. 2014 +/- (%)
Operating revenues (RMB Yuan) 650,305,530.50 742,596,945.82 -12.43%
Net profit attributable to shareholders of the
17,279,138.61 19,532,558.06 -11.54%
Company (RMB Yuan)
Net profit attributable to shareholders of the
Company after extraordinary gains and losses 15,137,500.97 19,307,194.21 -21.60%
(RMB Yuan)
Net cash flows from operating activities
1,795,087.91 -44,717,639.28 ——
(RMB Yuan)
Basic EPS (RMB Yuan/share) 0.03 0.03 0.00%
Diluted EPS (RMB Yuan/share) 0.03 0.03 0.00%
Weighted average ROE (%) 0.87% 1.06% -0.19%
31 Mar. 2015 31 Dec. 2014 +/- (%)
Total assets (RMB Yuan) 3,326,512,662.98 3,166,783,758.18 5.04%
Net assets attributable to shareholders of the
2,033,456,798.88 1,936,936,835.27 4.98%
Company (RMB Yuan)
Items and amounts of extraordinary gains and losses
√ Applicable □ Inapplicable
Unit: RMB Yuan
Item Jan.-Mar. 2015 Explanation
Gains/losses on the disposal of non-current assets (including the
-3,107.80
offset part of the asset impairment provisions)
Government grants recognized in the current period, except for
those acquired in the ordinary course of business or granted at
2,256,000.00
certain quotas or amounts according to the government’s unified
standards
Gains and losses on change in fair value from tradable financial
assets and tradable financial liabilities, as well as investment
income from disposal of tradable financial assets and tradable 1,055,860.52
financial liabilities and financial assets available for sales except
for effective hedging related with normal businesses of the
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Report for the First Quarter of 2015 of Changchai Company, Limited
Company
Non-operating income and expense other than the above -914,887.26
Less: Income tax effects 252,227.82
Total 2,141,637.64 --
Explain the reasons if the Company classifies an item as an extraordinary gain/loss according to the definition in
the Explanatory Announcement No. 1 on Information Disclosure for Companies Offering Their Securities to the
Public—Extraordinary Gains and Losses, or classifies any extraordinary gain/loss item mentioned in the said
explanatory announcement as a recurrent gain/loss item
□ Applicable √ Inapplicable
No such cases in the reporting period.
II. Total number of shareholders at the period-end and shareholdings of top 10 shareholders
1. Total number of common shareholders at the period-end and shareholdings of top 10 common
shareholders
Unit: share
Total number of common shareholders at the period-end 63,933
Shareholdings of top 10 common shareholders
Shareholdi Pledged or frozen
Number of
Nature of ng Number of shares
Name of shareholder restricted shares
shareholder percentage shares held Status of Number
held
(%) shares of shares
State-owned Assets Supervision and
On behalf of the
Administration Commission of Changzhou 30.02% 168,497,736
State
Municipal People’s Government
Domestic
Zhang Liming 1.54% 8,653,311
individual
Foreign
KGI ASIA LIMITED 0.92% 5,166,170
corporation
SUN HUNG KAI INVESTMENT SERVICES Foreign
0.66% 3,701,528
LTD-CUSTOMERS A/C corporation
Southwest Securities-CCB-Aggregate Asset
Management Plan of Zhufeng No. 1 of Other 0.63% 3,541,233
Southwest Securities
BNP PARIBAS WEALTH MANAGEMENT Foreign
0.55% 3,099,873
HONG KONG BRANCH corporation
Domestic
Jiang Xuezhen 0.50% 2,800,000
individual
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Report for the First Quarter of 2015 of Changchai Company, Limited
Southwest Securities-The Agricultural Bank
of China-Aggregate Asset Management Plan
Other 0.50% 2,800,000
of Shuangxi Huixin No.1 of Southwest
Securities
CORE PACIFIC-YAMAICHI Foreign
0.30% 1,672,400
INTERNATIONAL (H.K.) LIMITED corporation
Domestic
Sun Qingfu 0.28% 1,551,811
individual
Particulars about shares held by the top ten shareholders holding shares not subject to trading moratorium
Number of tradable shares Type of shares
Name of shareholder
held at the period-end Type Number
State-owned Assets Supervision and Administration Commission
168,497,736 RMB ordinary share 168,497,736
of Changzhou Municipal People’s Government
Zhang Liming 8,653,311 RMB ordinary share 8,653,311
Domestically listed
KGI ASIA LIMITED 5,166,170 5,166,170
foreign shares
SUN HUNG KAI INVESTMENT SERVICES Domestically listed
3,701,528 3,701,528
LTD-CUSTOMERS A/C foreign shares
Southwest Securities-CCB-Aggregate Asset Management Plan of
3,541,233 RMB ordinary share 3,541,233
Zhufeng No. 1 of Southwest Securities
BNP PARIBAS WEALTH MANAGEMENT HONG KONG Domestically listed
3,099,873 3,099,873
BRANCH foreign shares
Jiang Xuezhen 2,800,000 RMB ordinary share 2,800,000
Southwest Securities- The Agricultural Bank of China-Aggregate
Asset Management Plan of Shuangxi Huixin No.1 of Southwest 2,800,000 RMB ordinary share 2,800,000
Securities
CORE PACIFIC-YAMAICHI INTERNATIONAL (H.K.) Domestically listed
1,672,400 1,672,400
LIMITED foreign shares
Sun Qingfu 1,551,811 RMB ordinary share 1,551,811
It is unknown whether there was any associated
relationship among the top ten tradable shareholders and
Explanation on associated relationship or/and persons
among the top ten shareholders not subject to trading
acting in concert among the above-mentioned
moratorium, or whether they are persons acting in concert
shareholders:
as described by Measures for the Administrative of
Disclosure of Shareholder Equity Changes.
The shareholder, Zhang Liming, owning to participating in the
Explanation on the top 10 common shareholders participating in financing and securities loans business during the reporting period,
the financing and securities loans business (if any) he hold 8,653,311 shares of the Company through the customer
credit collateral securities trading account of Huatai Securities Co.,
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Report for the First Quarter of 2015 of Changchai Company, Limited
Ltd. with the shareholding proportion of 1.54%. The shareholder,
Sun Qingfu hold 1,551,811 shares of the Company through the
securities ordinary account and the customer credit collateral
securities trading account with the shareholding proportion of
0.28%, of which, owning to participating in the financing and
securities loans business during the reporting period, he hold
1,464,611 shares of the Company through the customer credit
collateral securities trading account of Guosen Securities Co., Ltd.
with the shareholding proportion of 0.26%.
Did any shareholder of the top 10 common shareholders and top 10 shareholders holding not subject to trading moratorium the
Company carries out an agreed buy-back in the reporting period?
□ Yes √ No
There was no shareholder of the top 10 common shareholders and top 10 shareholders holding not subject to trading moratorium the
Company carries out an agreed buy-back in the reporting period
2. Total number of preferred shareholders at the period-end and shareholdings of top 10 preferred
shareholders
□ Applicable √ Inapplicable
Section III. Significant Events
I. Significant changes of the major accounting statement items and financial indicators for the
reporting period, as well as the reasons for these changes
√ Applicable □ Inapplicable
1. Accounts receivable increased 51.84% from the opening amount mainly because the Company properly
allowed customers’ buying on credit according to relevant agreements and marketing plans to expand the market
room.
2. Other receivables increased 121.02% from the opening amount mainly because of the temporary lendings from
subsidiary Housheng Investment to Xuzhou East China Casting General Factory, etc.
3. Payroll payable decreased 30.64% from the opening amount mainly because some of the salary and bonus
provisions made last year were paid in the reporting period.
4. Taxes and fares payable increased 167.68% from the opening amount mainly because the inventories of the
Company (without subsidiaries) decreased and the input VAT decreased accordingly.
5. Investment gains increased 97.57% year on year mainly because subsidiary Housheng Investment received
bonuses from its investees.
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Report for the First Quarter of 2015 of Changchai Company, Limited
II. Progress of significant events and analysis & explanations on their influence and solutions
□ Applicable √ Inapplicable
III. Commitments made by the Company or any shareholder with a shareholding over 5% in
the reporting period or such commitments made in previous period and carried down into the
reporting period
□ Applicable √ Inapplicable
No such cases in the reporting period.
IV. Predict the operating results of Jan.-Jun. 2015
Warning of possible loss or considerable YoY change of the accumulated net profit made during the period-begin
to the end of the next reporting period according to prediction, as well as explanations on the reasons:
□ Applicable √ Inapplicable
V. Securities investments
□ Applicable √ Inapplicable
No such cases in the reporting period.
VI. Shareholdings in other listed companies
√ Applicable □ Inapplicable
At the end of the reporting period, the available-for-sale financial assets held by the Company for measurement, of
which the “Foton Automobile” of 72,250,000 shares and “Jiangsu Expressway” of 50,000 shares.
VII. Investments in derivatives
□ Applicable √ Inapplicable
No such cases in the reporting period.
VIII. Researches, visits and interviews received in the reporting period
√ Applicable □ Inapplicable
VIII. Researches, visits and interviews received in the reporting period
√ Applicable □ Inapplicable
Time of reception Place of reception Way of Visitor type Visitor Main discussion and
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Report for the First Quarter of 2015 of Changchai Company, Limited
reception materials provided by
the Company
The Shenzhen Stock The future
Individual
26 Mar. 2015 Exchange Interaction Other Individual development of the
investor
Platform Company
The Shenzhen Stock The future
Individual
23 Mar. 2015 Exchange Interaction Other Individual development of the
investor
Platform Company
The Shenzhen Stock The future
Individual
22 Mar. 2015 Exchange Interaction Other Individual development of the
investor
Platform Company
The Shenzhen Stock Situation of the
Individual
16 Mar. 2015 Exchange Interaction Other Individual shareholders in the
investor
Platform Company
The Shenzhen Stock Situation of the
Individual
15 Mar. 2015 Exchange Interaction Other Individual network of the
investor
Platform Company
The Shenzhen Stock The future
Individual
12 Mar. 2015 Exchange Interaction Other Individual development of the
investor
Platform Company
The Shenzhen Stock The future
Individual
12 Mar. 2015 Exchange Interaction Other Individual development of the
investor
Platform Company
The Shenzhen Stock Situation of the
Individual
12 Mar. 2015 Exchange Interaction Other Individual Company’s new
investor
Platform independent directors
The Shenzhen Stock Situation of mixed
Individual
8 Mar. 2015 Exchange Interaction Other Individual ownership reform of
investor
Platform the Company
The Shenzhen Stock Situation of
Individual
1 Mar. 2015 Exchange Interaction Other Individual agricultural
investor
Platform informatization
The Shenzhen Stock Situation of the
Individual
27 Feb. 2015 Exchange Interaction Other Individual Company’s oversea
investor
Platform co-operation
The Shenzhen Stock Situation of the
Individual
27 Feb. 2015 Exchange Interaction Other Individual Company’s oversea
investor
Platform co-operation
The Shenzhen Stock Individual Situation of mixed
25 Feb. 2015 Other Individual
Exchange Interaction investor ownership reform of
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Report for the First Quarter of 2015 of Changchai Company, Limited
Platform the Company
The Shenzhen Stock Relevant situation of
Individual
16 Feb. 2015 Exchange Interaction Other Individual the products of the
investor
Platform Company
The Shenzhen Stock Number of the
Individual
9 Feb. 2015 Exchange Interaction Other Individual shareholders in the
investor
Platform Company
The Shenzhen Stock Situation of
Individual
21 Jan. 2015 Exchange Interaction Other Individual state-owned enterprise
investor
Platform reform
The Shenzhen Stock
Individual Agricultural
19 Jan. 2015 Exchange Interaction Other Individual
investor Modernization
Platform
The Shenzhen Stock
Individual Trend of stock prices
14 Jan. 2015 Exchange Interaction Other Individual
investor of the Company
Platform
The Shenzhen Stock Situation of the
Individual
13 Jan. 2015 Exchange Interaction Other Individual shareholders in the
investor
Platform Company
The Shenzhen Stock Situation of the
Individual
12 Jan. 2015 Exchange Interaction Other Individual shareholders in the
investor
Platform Company
The Shenzhen Stock Situation of the
Individual
1 Jan. 2015 Exchange Interaction Other Individual shareholders in the
investor
Platform Company
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Report for the First Quarter of 2015 of Changchai Company, Limited
Section IV. Financial Statements
I. Financial statements
1. Consolidated balance sheet
Prepared by Changchai Company, Limited
Unit: RMB Yuan
Item Closing balance Opening balance
Current Assets:
Monetary funds 489,263,641.69 531,969,747.91
Settlement reserves
Intra-group lendings
Financial assets measured at fair value of which changes are
9,125,842.52 2,109,642.19
recorded in current profits and losses
Derivative financial assets
Notes receivable 240,090,090.50 314,236,128.92
Accounts receivable 568,400,766.55 374,335,355.22
Accounts paid in advance 11,917,714.33 15,092,855.36
Premiums receivable
Reinsurance premiums receivable
Receivable reinsurance contract reserves
Interest receivable
Dividend receivable
Other accounts receivable 19,146,553.11 8,662,701.30
Financial assets purchased under agreements to resell
Inventories 470,975,006.21 497,588,717.86
Assets held for sale
Non-current assets due within 1 year
Other current assets 41,391,177.84 31,729,042.18
Total current assets 1,850,310,792.75 1,775,724,190.94
Non-current assets:
Loans by mandate and advances granted
Available-for-sale financial assets 591,074,500.00 497,850,000.00
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Report for the First Quarter of 2015 of Changchai Company, Limited
Held-to-maturity investments
Long-term accounts receivable
Long-term equity investment 20,459,975.99 20,459,975.99
Investing real estate 58,937,285.63 59,489,370.83
Fixed assets 581,568,646.82 572,785,946.61
Construction in progress 119,583,081.35 134,948,317.87
Engineering materials
Disposal of fixed assets
Production biological assets
Oil-gas assets
Intangible assets 103,493,517.12 104,441,092.62
R&D expense
Goodwill
Long-term deferred expenses
Deferred income tax assets 1,084,863.32 1,084,863.32
Other non-current assets
Total of non-current assets 1,476,201,870.23 1,391,059,567.24
Total assets 3,326,512,662.98 3,166,783,758.18
Current liabilities:
Short-term borrowings 20,000,000.00 20,000,000.00
Borrowings from Central Bank
Customer bank deposits and due to banks and other financial
institutions
Intra-group borrowings
Financial liabilities measured at fair value of which changes are
recorded in current profits and losses
Derivative financial liabilities
Notes payable 230,711,400.00 218,351,400.00
Accounts payable 555,111,868.02 550,858,517.60
Accounts received in advance 34,043,839.78 29,364,756.16
Financial assets sold for repurchase
Handling charges and commissions payable
Payroll payable 42,517,564.96 61,303,762.60
Tax payable 38,846,259.83 14,511,976.27
Interest payable
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Report for the First Quarter of 2015 of Changchai Company, Limited
Dividend payable 3,891,433.83 3,891,433.83
Other accounts payable 218,757,856.98 196,560,865.32
Reinsurance premiums payable
Insurance contract reserves
Payables for acting trading of securities
Payables for acting underwriting of securities
Liabilities held for sale
Non-current liabilities due within 1 year
Other current liabilities 2,845,246.62 2,992,996.74
Total current liabilities 1,146,725,470.02 1,097,835,708.52
Non-current liabilities:
Long-term borrowings
Bonds payable
Of which: preferred shares
Perpetual bonds
Long-term payables
Long-term payroll payables
Specific payables
Estimated liabilities
Deferred income 54,185,979.32 54,185,979.32
Deferred income tax liabilities 75,600,000.00 61,616,325.00
Other non-current liabilities 0.00
Total non-current liabilities 129,785,979.32 115,802,304.32
Total liabilities 1,276,511,449.34 1,213,638,012.84
Owners’ equity:
Share capital 561,374,326.00 561,374,326.00
Other equity instruments
Of which: preferred shares
Perpetual bonds
Capital reserves 164,328,665.43 164,328,665.43
Less: Treasury stock
Other comprehensive income 428,400,000.00 349,159,175.00
Specific reserves 8,332,077.21 8,332,077.21
Surplus reserves 298,151,696.96 298,151,696.96
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Report for the First Quarter of 2015 of Changchai Company, Limited
Provisions for general risks
Retained profits 572,870,033.28 555,590,894.67
Total equity attributable to owners of the Company 2,033,456,798.88 1,936,936,835.27
Minority interests 16,544,414.76 16,208,910.07
Total owners’ equity 2,050,001,213.64 1,953,145,745.34
Total liabilities and owners’ equity 3,326,512,662.98 3,166,783,758.18
Legal representative: Xue Guojun Chief of the accounting work: He Jianguang Chief of the accounting organ: Jiang He
2. Balance sheet of the Company
Unit: RMB Yuan
Item Closing balance Opening balance
Current Assets:
Monetary funds 475,009,570.48 494,366,603.39
Financial assets measured at fair value of which changes are
recorded in current profits and losses
Derivative financial assets
Notes receivable 238,688,090.50 312,466,128.92
Accounts receivable 528,272,580.59 331,239,446.99
Accounts paid in advance 5,504,003.88 10,139,747.15
Interest receivable 0.00 0.00
Dividend receivable 0.00 0.00
Other accounts receivable 5,230,299.66 5,712,047.44
Inventories 394,784,189.97 426,235,429.74
Assets held for sale
Non-current assets due within 1 year
Other current assets 30,637,141.03 20,637,141.03
Total current assets 1,678,125,876.11 1,600,796,544.66
Non-current assets:
Available-for-sale financial assets 583,874,500.00 490,650,000.00
Held-to-maturity investments
Long-term accounts receivable
Long-term equity investment 204,926,475.99 204,926,475.99
Investing real estate 58,937,285.63 59,489,370.83
Fixed assets 465,801,107.12 454,717,057.95
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Report for the First Quarter of 2015 of Changchai Company, Limited
Construction in progress 119,559,320.67 134,948,317.87
Engineering materials
Disposal of fixed assets
Production biological assets
Oil-gas assets
Intangible assets 81,113,075.42 81,914,372.57
R&D expense
Goodwill
Long-term deferred expenses
Deferred income tax assets 1,084,863.32 1,084,863.32
Other non-current assets
Total of non-current assets 1,515,296,628.15 1,427,730,458.53
Total assets 3,193,422,504.26 3,028,527,003.19
Current liabilities:
Short-term borrowings
Financial liabilities measured at fair value of which changes are
recorded in current profits and losses
Derivative financial liabilities
Notes payable 216,761,400.00 206,351,400.00
Accounts payable 505,951,427.10 501,904,239.41
Accounts received in advance 48,639,535.29 37,247,846.51
Payroll payable 39,317,338.62 56,426,935.61
Tax payable 36,479,698.97 12,438,714.42
Interest payable
Dividend payable 3,243,179.97 3,243,179.97
Other accounts payable 213,432,248.53 191,066,117.22
Liabilities held for sale
Non-current liabilities due within 1 year
Other current liabilities
Total current liabilities 1,063,824,828.48 1,008,678,433.14
Non-current liabilities:
Long-term borrowings
Bonds payable
Of which: preferred shares
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Report for the First Quarter of 2015 of Changchai Company, Limited
Perpetual bonds
Long-term payables
Long-term payroll payables
Specific payables
Estimated liabilities
Deferred income 54,185,979.32 54,185,979.32
Deferred income tax liabilities 75,600,000.00 61,616,325.00
Other non-current liabilities
Total non-current liabilities 129,785,979.32 115,802,304.32
Total liabilities 1,193,610,807.80 1,124,480,737.46
Owners’ equity:
Share capital 561,374,326.00 561,374,326.00
Other equity instruments
Of which: preferred shares
Perpetual bonds
Capital reserves 183,071,147.70 183,071,147.70
Less: Treasury stock
Other comprehensive income 428,400,000.00 349,159,175.00
Specific reserves 8,332,077.21 8,332,077.21
Surplus reserves 298,151,696.96 298,151,696.96
Retained profits 520,482,448.59 503,957,842.86
Total owners’ equity 1,999,811,696.46 1,904,046,265.73
Total liabilities and owners’ equity 3,193,422,504.26 3,028,527,003.19
3. Consolidated income statement
Unit: RMB Yuan
Item Jan.-Mar. 2015 Jan.-Mar. 2014
I. Total operating revenues 650,305,530.50 742,596,945.82
Including: Sales income 650,305,530.50 742,596,945.82
Interest income
Premium income
Handling charge and commission income
II. Total operating costs 631,372,352.57 718,974,544.23
Including: Cost of sales 581,556,792.13 658,509,746.25
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Report for the First Quarter of 2015 of Changchai Company, Limited
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 51,569.72 209,031.38
Selling and distribution expenses 26,292,007.54 27,228,368.05
Administrative expenses 25,983,523.18 34,984,302.76
Financial expenses -2,511,540.00 -1,956,904.21
Asset impairment loss
Add: Gain/(loss) from change in fair value (“-” means loss) 16,200.33 0.00
Gain/(loss) from investment (“-” means loss) 1,039,660.19 526,224.94
Including: share of profits in associates and joint ventures
Foreign exchange gains (“-” means loss)
III. Business profit (“-” means loss) 19,989,038.45 24,148,626.53
Add: non-operating income 2,741,907.52 1,065,169.47
Including: Gains on disposal of non-current assets
Less: non-operating expense 1,403,902.58 1,289,209.96
Including: Losses on disposal of non-current assets
IV. Total profit (“-” means loss) 21,327,043.39 23,924,586.04
Less: Income tax expense 3,712,400.09 4,044,171.57
V. Net profit (“-” means loss) 17,614,643.30 19,880,414.47
Net profit attributable to owners of the Company 17,279,138.61 19,532,558.06
Minority shareholders’ income 335,504.69 347,856.41
VI. After-tax net amount of other comprehensive incomes 79,240,825.00 -100,086,650.00
After-tax net amount of other comprehensive incomes attributable
79,240,825.00 -100,086,650.00
to owners of the Company
(I) Other comprehensive incomes that will not be reclassified
into gains and losses
1. Changes in net liabilities or assets with a defined benefit
plan upon re-measurement
2. Enjoyable shares in other comprehensive incomes in
investees that cannot be reclassified into gains and losses under the
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Report for the First Quarter of 2015 of Changchai Company, Limited
equity method
(II) Other comprehensive incomes that will be reclassified into
79,240,825.00 -100,086,650.00
gains and losses
1. Enjoyable shares in other comprehensive incomes in
investees that will be reclassified into gains and losses under the equity
method
2. Gains and losses on fair value changes of
79,240,825.00 -100,086,650.00
available-for-sale financial assets
3. Gains and losses on reclassifying held-to-maturity
investments into available-for-sale financial assets
4. Effective hedging gains and losses on cash flows
5. Foreign-currency financial statement translation difference
6. Other
After-tax net amount of other comprehensive incomes attributable
to minority shareholders
VII. Total comprehensive incomes 96,855,468.30 -80,206,235.53
Attributable to owners of the Company 96,519,963.61 -80,554,091.94
Attributable to minority shareholders 335,504.69 347,856.41
VIII. Earnings per share
(I) Basic earnings per share 0.03 0.03
(II) Diluted earnings per share 0.03 0.03
Legal representative: Xue Guojun Chief of the accounting work: He Jianguang Chief of the accounting organ: Jiang He
4. Income statement of the Company
Unit: RMB Yuan
Item Jan.-Mar. 2015 Jan.-Mar. 2014
I. Total sales 653,717,912.77 744,681,372.60
Less: cost of sales 590,131,833.35 667,845,757.35
Business taxes and surcharges
Distribution expenses 25,475,290.53 25,657,024.17
Administrative expenses 21,862,823.16 31,028,879.23
Financial costs -2,958,248.10 -3,091,376.45
Impairment loss
Add: gain/(loss) from change in fair value (“-” means loss)
Gain/(loss) from investment (“-” means loss) 0.00 2,446,600.00
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Report for the First Quarter of 2015 of Changchai Company, Limited
Including: income form investment on associates and joint
ventures
II. Business profit (“-” means loss) 19,206,213.83 25,687,688.30
Add: non-operating income 2,226,636.67 628,773.51
Including: Gains on disposal of non-current assets
Less: non-operating expense 1,403,902.58 1,244,209.96
Including: Losses on disposal of non-current assets
III. Total profit (“-” means loss) 20,028,947.92 25,072,251.85
Less: Income tax expense 3,504,342.19 3,760,837.77
IV. Net profit (“-” means loss) 16,524,605.73 21,311,414.08
V. After-tax net amount of other comprehensive incomes 79,240,825.00 -100,086,650.00
(I) Other comprehensive incomes that will not be reclassified into
gains and losses
1. Changes in net liabilities or assets with a defined benefit plan
upon re-measurement
2. Enjoyable shares in other comprehensive incomes in investees
that cannot be reclassified into gains and losses under the equity
method
(II) Other comprehensive incomes that will be reclassified into gains
79,240,825.00 -100,086,650.00
and losses
1. Enjoyable shares in other comprehensive incomes in investees
that will be reclassified into gains and losses under the equity method
2. Gains and losses on fair value changes of available-for-sale
79,240,825.00 -100,086,650.00
financial assets
3. Gains and losses on reclassifying held-to-maturity investments
into available-for-sale financial assets
4. Effective hedging gains and losses on cash flows
5. Foreign-currency financial statement translation difference
6. Other
VI. Total comprehensive incomes 95,765,430.73 -78,775,235.92
VII. Earnings per share
(I) Basic earnings per share
(II) Diluted earnings per share
5. Consolidated cash flow statement
Unit: RMB Yuan
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Report for the First Quarter of 2015 of Changchai Company, Limited
Item Jan.-Mar. 2015 Jan.-Mar. 2014
I. Cash flows from operating activities:
Cash received from sale of commodities and rendering of service 625,633,539.16 633,248,454.62
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 financial assets measured at fair value of
which changes are recorded into current gains and losses
Cash received from interest, handling charges and commissions
Net increase of intra-group borrowings
Net increase of funds in repurchase business
Tax refunds received 17,902,474.19 12,207,933.66
Other cash received relating to operating activities 4,650,532.01 3,986,052.18
Subtotal of cash inflows from operating activities 648,186,545.36 649,442,440.46
Cash paid for goods and services 539,391,667.22 593,122,072.37
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 85,163,263.66 80,343,377.26
Various taxes paid 11,994,626.47 11,153,867.39
Other cash payment relating to operating activities 9,841,900.10 9,540,762.72
Subtotal of cash outflows from operating activities 646,391,457.45 694,160,079.74
Net cash flows from operating activities 1,795,087.91 -44,717,639.28
II. Cash flows from investing activities:
Cash received from withdrawal of investments
Cash received from return on investments 918,882.41 176,244.94
Net cash received from disposal of fixed assets, intangible assets and
158,173.02
other long-term assets
Net cash received from disposal of subsidiaries or other business
19
Report for the First Quarter of 2015 of Changchai Company, Limited
units
Other cash received relating to investing activities 0.00 20,000.00
Subtotal of cash inflows from investing activities 918,882.41 354,417.96
Cash paid to acquire fixed assets, intangible assets and other
18,697,864.76 32,774,332.39
long-term assets
Cash paid for investment 17,000,000.00 1,250,000.00
Net increase of pledged loans
Net cash paid to acquire subsidiaries and other business units
Other cash payments relating to investing activities 11,000,000.00 11,512,486.41
Subtotal of cash outflows from investing activities 46,697,864.76 45,536,818.80
Net cash flows from investing activities -45,778,982.35 -45,182,400.84
III. Cash Flows from Financing Activities:
Cash received from capital contributions
Including: Cash received from minority shareholder investments by
subsidiaries
Cash received from borrowings
Cash received from issuance of bonds
Other cash received relating to financing activities
Subtotal of cash inflows from financing activities
Repayment of borrowings 3,000,000.00
Cash paid for interest expenses and distribution of dividends or
389,999.99
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 389,999.99 3,000,000.00
Net cash flows from financing activities -389,999.99 -3,000,000.00
IV. Effect of foreign exchange rate changes on cash and cash
-62,201.92
equivalents
V. Net increase in cash and cash equivalents -44,373,894.43 -92,962,242.04
Add: Opening balance of cash and cash equivalents 464,761,820.50 610,882,216.18
VI. Closing balance of cash and cash equivalents 420,387,926.07 517,919,974.14
6. Cash flow statement of the Company
Unit: RMB Yuan
20
Report for the First Quarter of 2015 of Changchai Company, Limited
Item Jan.-Mar. 2015 Jan.-Mar. 2014
I. Cash flows from operating activities:
Cash received from sale of commodities and rendering of service 628,848,753.52 635,031,653.87
Tax refunds received 17,902,474.19 12,207,933.66
Other cash received relating to operating activities 3,870,921.63 3,657,949.42
Subtotal of cash inflows from operating activities 650,622,149.34 650,897,536.95
Cash paid for goods and services 553,755,368.09 617,029,101.59
Cash paid to and for employees 75,589,704.96 70,381,645.71
Various taxes paid 11,517,533.51 9,514,379.15
Other cash payment relating to operating activities 7,615,099.14 8,244,209.96
Subtotal of cash outflows from operating activities 648,477,705.70 705,169,336.41
Net cash flows from operating activities 2,144,443.64 -54,271,799.46
II. Cash flows from investing activities:
Cash received from retraction of investments
Cash received from return on investments 2,446,600.00
Net cash received from disposal of fixed assets, intangible assets and
158,173.02
other long-term assets
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 0.00 2,604,773.02
Cash paid to acquire fixed assets, intangible assets and other
16,769,264.76 28,917,352.39
long-term assets
Cash paid for investment 10,000,000.00
Net cash paid to acquire subsidiaries and other business units
Other cash payments relating to investing activities
Subtotal of cash outflows from investing activities 26,769,264.76 28,917,352.39
Net cash flows from investing activities -26,769,264.76 -26,312,579.37
III. Cash Flows from Financing Activities:
Cash received from capital contributions
Cash received from borrowings
Cash received from issuance of bonds
Other cash received relating to financing activities
Subtotal of cash inflows from financing activities
Repayment of borrowings
21
Report for the First Quarter of 2015 of Changchai Company, Limited
Cash paid for interest expenses and distribution of dividends or
profit
Other cash payments relating to financing activities
Sub-total of cash outflows from financing activities
Net cash flows from financing activities
IV. Effect of foreign exchange rate changes on cash and cash
equivalents
V. Net increase in cash and cash equivalents -24,624,821.12 -80,584,378.83
Add: Opening balance of cash and cash equivalents 430,758,675.98 574,440,388.77
VI. Closing balance of cash and cash equivalents 406,133,854.86 493,856,009.94
II. Auditor’s report
Is this report audited?
□ Yes √ No
This report is not audited.
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