The Report for the First Quarter of 2016—Changchai Company, Limited
Changchai Company, Limited
The Report for the First Quarter of 2016
April 2016
1
The Report for the First Quarter of 2016—Changchai Company, Limited
Section I Important Statements
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.
All directors have attended the board session for reviewing this report.
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.
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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The Report for the First Quarter of 2016—Changchai Company, Limited
Section II Financial Results and Changes in Shareholders
I Financial results
Whether the Company performed any retroactive adjustments to or restatement of its accounting data due to
changes of accounting policies or correction of accounting errors
□ Yes √ No
January-March 2016 January-March 2015 +/-%
Operating revenues (RMB) 654,517,225.08 650,305,530.50 0.65%
Net profit attributable to shareholders
24,282,056.99 17,279,138.61 40.53%
of the Company (RMB)
Net profit attributable to shareholders
of the Company after exceptional profit 24,946,954.15 15,137,500.97 64.80%
and loss (RMB)
Net operating cash flow (RMB) -5,947,696.22 1,795,087.91 ——
Basic earnings per share (RMB/share) 0.04 0.03 33.33%
Diluted earnings per share
0.04 0.03 33.33%
(RMB/share)
Weighted average return on equity (%) 1.22% 0.87% 0.35%
31 March 2016 31 December 2015 +/-%
Total assets (RMB) 3,197,334,506.97 3,232,406,102.20 -1.08%
Net assets attributable to shareholders
1,972,518,668.00 2,002,910,311.01 -1.52%
of the Company (RMB)
Exceptional profit and loss
√ Applicable □ Inapplicable
Unit: RMB
Item January-March 2016 Explanation
Gains/losses on the disposal of non-current assets
(including the offset part of the asset impairment 198,012.66
provisions)
Government grants recognized in the current period,
except for those acquired in the ordinary course of
153,000.00
business or granted at 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
615,230.51
as investment income from disposal of tradable financial
assets and tradable financial liabilities and financial
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The Report for the First Quarter of 2016—Changchai Company, Limited
assets available for sales except for effective hedging
related with normal businesses of the Company
Non-operating income and expense other than the above -1,679,028.98
Less: Income tax effects -47,888.65
Total -664,897.16 --
Explain the reasons if the Company classifies an item as exceptional profit/loss according to the definition in the
Explanatory Announcement No. 1 on Information Disclosure for Companies Offering Their Securities to the
Public—Exceptional Profit and Loss, or classifies any exceptional profit/loss item mentioned in the said
explanatory announcement as recurrent profit/loss
□ Applicable √ Not applicable
No such cases in the Reporting Period.
II Total number of shareholders at the period-end and shareholdings of top ten shareholders
1. Numbers of common shareholders and preference shareholders with resumed voting rights as well as
shareholdings of top ten shareholders
Unit: share
Total number of
preference shareholders
Total number of common
54,693 with resumed voting 0
shareholders at the period-end
rights at the period-end (if
any)
Shareholdings of top ten shareholders
Pledged or frozen
Shareholding Number of shares
Nature of Number of
Name of shareholder percentage restricted shares Number
shareholder shares held Status of
(%) held of
shares
shares
State-owned Assets
Supervision and
On behalf of
Administration Commission of 30.43% 170,845,236
the State
Changzhou Municipal
People’s Government
Domestic
Huang Lihou 1.00% 5,600,000
individual
Overseas
KGI Asia Limited 0.57% 3,224,845
corporation
Domestic
Zhou You 0.56% 3,137,200
individual
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The Report for the First Quarter of 2016—Changchai Company, Limited
BNP Paribas Wealth
Overseas
Management Hong Kong 0.55% 3,099,873
corporation
Branch
Domestic
Xu Xingying 0.52% 2,944,700
individual
Domestic
Wu Xiaoping 0.49% 2,775,300
individual
Domestic
Sun Haiyan 0.47% 2,644,897
individual
Domestic
Wang Jixiang 0.46% 2,555,200
individual
Bank of Communications Co.,
Ltd.-Changxin Quantified Core
Other 0.40% 2,271,889
Pioneer Mixed Investment
Fund
Shareholdings of top ten non-restricted shareholders
Number of non-restricted Variety of shares
Name of shareholder
shares held Variety Number
State-owned Assets Supervision and
Administration Commission of Changzhou 170,845,236 RMB ordinary shares 170,845,236
Municipal People’s Government
Huang Lihou 5,600,000 RMB ordinary shares 5,600,000
Domestically listed
KGI Asia Limited 3,224,845 3,224,845
foreign shares
Zhou You 3,137,200 RMB ordinary shares 3,137,200
BNP Paribas Wealth Management Hong Domestically listed
3,099,873 3,099,873
Kong Branch foreign shares
Xu Xingying 2,944,700 RMB ordinary shares 2,944,700
Wu Xiaoping 2,775,300 RMB ordinary shares 2,775,300
Sun Haiyan 2,644,897 RMB ordinary shares 2,644,897
Wang Jixiang 2,555,200 RMB ordinary shares 2,555,200
Bank of Communications Co., Ltd.-
Changxin Quantified Core Pioneer Mixed 2,271,889 RMB ordinary shares 2,271,889
Investment Fund
It is unknown whether there was any associated relationship among
Related or acting-in-concert parties among the top ten tradable shareholders and among the top ten shareholders
the above shareholders not subject to trading moratorium, or whether they are persons acting
in concert as described by Measures for the Administrative of
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The Report for the First Quarter of 2016—Changchai Company, Limited
Disclosure of Shareholder Equity Changes.
Shareholder Huang Lihou held a total of 5,600,000 shares in the
Company, representing a stake of 1.00%, through a common
Top ten common shareholders conducting securities account and a client account of collateral securities for
securities margin trading (if any) margin trading. Shareholder Sun Haiyan held 2,644,897 shares in the
Company (a stake of 0.47%) through a client account of collateral
securities for margin trading in China Galaxy Securities Co. , Ltd.
Did any of the top ten common shareholders or the top ten non-restricted common shareholders of the Company
conduct any promissory repo during the Reporting Period?
□ Yea √ No
No such cases in the Reporting Period.
2. Total number of preference shareholders and shareholdings of the top ten of them
□ Applicable √ Not applicable
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The Report for the First Quarter of 2016—Changchai Company, Limited
Section III Significant Events
I Changes in major accounting statement items and financial indicators for the Reporting
Period, as well as reasons for such changes
√ Applicable □ Not applicable
1. Accounts receivable increased 108.91% from the opening amount mainly because the Company properly
allowed customers’ buying on credit according to its relevant agreements and marketing plans to expand its
market space, and the percentage of multi-cylinder engines in the total sales increased (longer payment days for
these customers for they mostly procure our multi-cylinder engines as a component).
2. Other accounts receivable increased 220.69% from the opening amount mainly because of the temporary
lendings from subsidiary Housheng Investment to Xuzhou East China Casting General Factory, etc.
3. Other current assets decreased 53.72% from the opening amount mainly because some bank financial produces
became due and the overpaid VAT decreased.
4. Payroll payable decreased 38.70% from the opening amount mainly because some of the salary and bonus
provisions made last year were paid in the Reporting Period.
5. Taxes and fares payable increased 58.08% from the opening amount mainly because the inventories of the
Company (without subsidiaries) decreased and the input VAT decreased accordingly.
6. Net profit attributable to owners of the Company increased 40.53% from the same period of last year mainly
because along with its product restructuring, the percentage of multi-cylinder engines in the total sales of the
Company increased with its self-made components increasing accordingly, cost control produced remarkable
results and the gross profit increased.
II Progress of significant events and analysis & explanations on their influence and solutions
□ Applicable √ Not applicable
III Commitments of the Company, its shareholders, actual controller, acquirer, directors,
supervisors, senior management or other related parties fulfilled in the Reporting Period or
ongoing at the period-end
√ Applicable □ Not applicable
Date of
Commitmen Type of Term of
Commitment Contents commitment Fulfillment
t maker commitment commitment
making
Commitments made in
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The Report for the First Quarter of 2016—Changchai Company, Limited
share reform
Commitments made in
acquisition documents
or shareholding
alteration documents
Commitments made in
time of asset
restructuring
Commitments made in
time of IPO or
refinancing
Commitments
concerning stock
ownership incentive
Under the conditions of in
future three years
(2014-2016) the
attributable profit (the
remaining profits after the
losses have been made up
and common reserves
have been drawn) of
shareholders’ reward plan
in the year or half year is
positive, and the cash
flow is sufficient, the cash
Changchai The
Other commitments dividends had no
Company, Bonus commitmen
made to minority influence to the follow-up 2014-05-14 Y2014-2016
Limited commitment t was under
shareholders continuously operation,
progress.
the profit dividends in
cash shall no lower than
the 10% of attributable
profit realized by the
Company and in any three
continuous accounting
years the accumulative
profit dividends in cash
shall no less than 30% of
the average annual
attributable profits
realized in three years.
Executed on time Yes
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The Report for the First Quarter of 2016—Changchai Company, Limited
IV Operating result forecast for January-June 2016
Warning of possible loss or considerable YoY change of the accumulated net profit made during the
period-beginning to the end of the next reporting period according to prediction, as well as explanations on the
reasons:
□Applicable √ Not applicable
V Securities investments
□ Applicable √ Not applicable
No such cases in the Reporting Period.
VI Investments in derivative financial instruments
□ Applicable √ Not applicable
No such cases in the Reporting Period.
VII Visits paid to the Company in the Reporting Period for purposes of research,
communication, interview, etc.
√ Applicable □ Not applicable
Date of visit Way of visit Type of visitor Index to main inquiry information
5 Jan. 2016 Other Individual Stock price trend of the Company
6 Jan. 2016 Other Individual Stock price trend of the Company
6 Jan. 2016 Other Individual Future development planning of the Company
8 Jan. 2016 Other Individual Future products planning of the Company
11 Jan. 2016 Other Individual Stock price trend of the Company
20 Jan. 2016 Other Individual Situation of the export business of the Company
21 Jan. 2016 Other Individual Situation of the export business of the Company
Situation of the reform of the state-owned
11 Feb. 2016 Other Individual
enterprises of the Company
23 Feb. 2016 Other Individual Number of the shareholders of the Company
Situation of the joint stock company - Tsinghua
24 Feb. 2016 Other Individual
Industrial Co., Ltd. of the Company
10 Mar. 2016 Other Individual Number of the shareholders of the Company
Situation of the held financial assets of the
28 Mar. 2016 Other Individual
Company
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The Report for the First Quarter of 2016—Changchai Company, Limited
VIII Illegal provision of guarantees for external parties
□ Applicable √ Not applicable
No such cases in the Reporting Period.
IX Occupation of the Company’s funds by the controlling shareholder or its related parties
for non-operating purposes
□ Applicable √ Not applicable
No such cases in the Reporting Period.
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The Report for the First Quarter of 2016—Changchai Company, Limited
Section IV Financial Statements
I Financial statements
1. Consolidated balance sheet
Prepared by Changchai Company, Limited
31 March 2016
Unit: RMB
Item Closing balance Opening balance
Current assets:
Monetary funds 562,434,957.86 601,312,715.62
Settlement reserves
Lendings to banks and other
financial institutions
Financial assets measured at
fair value with fair value changes
included in the profit and loss for
the Reporting Period
Derivative financial assets
Notes receivable 349,488,885.15 498,502,274.42
Accounts receivable 644,686,635.07 308,596,920.50
Accounts paid in advance 10,432,003.09 12,882,271.70
Premiums receivable
Reinsurance premiums
receivable
Receivable reinsurance contract
reserves
Interest receivable
Dividends receivable
Other accounts receivable 18,031,185.95 5,622,539.81
Financial assets purchased
under agreement to resell
Inventories 299,166,586.04 397,290,012.36
Assets held for sale
Non-current assets due within
one year
Other current assets 27,911,095.49 60,304,691.41
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The Report for the First Quarter of 2016—Changchai Company, Limited
Total current assets 1,912,151,348.65 1,884,511,425.82
Non-current assets:
Loans and advances to
customers
Available-for-sale financial
438,658,000.00 502,980,000.00
assets
Held-to-maturity investments
Long-term accounts receivable
Long-term equity investments 21,099,310.93 20,769,304.76
Investment property 56,728,944.83 57,281,030.03
Fixed assets 584,467,640.40 554,601,893.23
Construction in progress 80,983,227.28 108,198,455.01
Engineering materials
Disposal of fixed assets
Productive living assets
Oil-gas assets
Intangible assets 102,283,504.00 103,101,462.47
R&D expense
Goodwill
Long-term deferred expenses
Deferred income tax assets 962,530.88 962,530.88
Other non-current assets
Total non-current assets 1,285,183,158.32 1,347,894,676.38
Total assets 3,197,334,506.97 3,232,406,102.20
Current liabilities:
Short-term borrowings 14,500,000.00 17,000,000.00
Borrowings from the Central
Bank
Money deposits accepted and
inter-bank deposits
Loans from banks and other
financial institutions
Financial liabilities measured at
fair value with fair value changes
included in the profit and loss for
the Reporting Period
Derivative financial liabilities
Notes payable 248,060,000.00 238,200,000.00
Accounts payable 534,295,639.42 535,978,470.07
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The Report for the First Quarter of 2016—Changchai Company, Limited
Accounts received in advance 19,857,553.77 26,665,671.38
Financial assets sold for
repurchase
Handling charges and
commissions payable
Payroll payable 36,966,883.82 60,309,349.29
Taxes and fares payable 17,069,477.97 10,798,062.93
Interest payable
Dividends payable 3,891,433.83 3,891,433.83
Other accounts payable 224,040,462.19 201,151,632.46
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 one year
Other current liabilities 2,565,499.03 2,403,287.06
Total current liabilities 1,101,246,950.03 1,096,397,907.02
Non-current liabilities:
Long-term borrowings
Bonds payable
Of which: Preference shares
Perpetual bonds
Long-term accounts payable
Long-term payroll payable
Special payables
Estimated liabilities
Deferred income 52,855,512.29 53,121,605.70
Deferred income tax liabilities 52,737,525.00 62,385,825.00
Other non-current liabilities
Total non-current liabilities 105,593,037.29 115,507,430.70
Total liabilities 1,206,839,987.32 1,211,905,337.72
Owners’ equity:
Share capital 561,374,326.00 561,374,326.00
Other equity instruments
Of which: Preference shares
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The Report for the First Quarter of 2016—Changchai Company, Limited
Perpetual bonds
Capital reserves 164,328,665.43 164,328,665.43
Less: Treasury stock
Other composite income 298,845,975.00 353,519,675.00
Special reserves 10,069,746.98 10,069,746.98
Surplus reserves 305,758,285.91 305,758,285.91
Provisions for general risks
Retained profit 632,141,668.68 607,859,611.69
Total equity attributable to owners
1,972,518,668.00 2,002,910,311.01
of the Company
Minority interests 17,975,851.65 17,590,453.47
Total owners’ equity 1,990,494,519.65 2,020,500,764.48
Total liabilities and owners’
3,197,334,506.97 3,232,406,102.20
equity
Legal representative: Xue Guojun Chief of the accounting work: He Jianguang
Chief of the accounting organ: Jiang He
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The Report for the First Quarter of 2016—Changchai Company, Limited
2. Balance sheet of the Company
Unit: RMB
Item Closing balance Opening balance
Current assets:
Monetary funds 543,924,499.35 572,530,396.20
Financial assets measured at
fair value of which changes are
recorded in current profits and
losses
Derivative financial assets
Notes receivable 343,288,885.15 490,777,874.42
Accounts receivable 599,575,757.76 263,878,166.23
Accounts paid in advance 6,072,839.66 6,512,574.55
Interest receivable
Dividend receivable
Other accounts receivable 6,276,129.42 4,885,363.01
Inventories 241,811,749.28 348,179,430.41
Assets held for sale
Non-current assets due within 1
year
Other current assets 10,000,000.00 41,403,182.61
Total current assets 1,750,949,860.62 1,728,166,987.43
Non-current assets:
Available-for-sale financial
431,458,000.00 495,780,000.00
assets
Held-to-maturity investments
Long-term accounts receivable
Long-term equity investment 205,565,810.93 205,235,804.76
Investing real estate 56,728,944.83 57,281,030.03
Fixed assets 477,346,533.42 445,343,167.61
Construction in progress 80,961,005.06 108,198,455.01
Engineering materials
Disposal of fixed assets
Production biological assets
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The Report for the First Quarter of 2016—Changchai Company, Limited
Oil-gas assets
Intangible assets 80,488,175.70 81,159,855.82
R&D expense
Goodwill
Long-term deferred expenses
Deferred income tax assets 962,530.88 962,530.88
Other non-current assets
Total of non-current assets 1,333,511,000.82 1,393,960,844.11
Total assets 3,084,460,861.44 3,122,127,831.54
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 224,060,000.00 218,200,000.00
Accounts payable 523,597,730.22 527,416,373.82
Accounts received in advance 18,646,628.29 24,537,940.90
Payroll payable 32,941,229.17 55,068,743.12
Tax payable 16,085,172.95 8,521,233.87
Interest payable
Dividend payable 3,243,179.97 3,243,179.97
Other accounts payable 217,534,236.13 194,650,090.70
Liabilities held for sale
Non-current liabilities due
within 1 year
Other current liabilities
Total current liabilities 1,036,108,176.73 1,031,637,562.38
Non-current liabilities:
Long-term borrowings
Bonds payable
Of which: preference shares
Perpetual bonds
Long-term payables
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The Report for the First Quarter of 2016—Changchai Company, Limited
Long-term payroll payables
Specific payables
Estimated liabilities
Deferred income 52,855,512.29 53,121,605.70
Deferred income tax liabilities 52,737,525.00 62,385,825.00
Other non-current liabilities
Total non-current liabilities 105,593,037.29 115,507,430.70
Total liabilities 1,141,701,214.02 1,147,144,993.08
Owners’ equity:
Share capital 561,374,326.00 561,374,326.00
Other equity instruments
Of which: preference shares
Perpetual bonds
Capital reserves 183,071,147.70 183,071,147.70
Less: Treasury stock
Other comprehensive income 298,845,975.00 353,519,675.00
Specific reserves 10,069,746.98 10,069,746.98
Surplus reserves 305,758,285.91 305,758,285.91
Retained profits 583,640,165.83 561,189,656.87
Total owners’ equity 1,942,759,647.42 1,974,982,838.46
Total liabilities and owners’
3,084,460,861.44 3,122,127,831.54
equity
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The Report for the First Quarter of 2016—Changchai Company, Limited
3. Consolidated income statement
Unit: RMB
Item January-March 2016 January-March 2015
I. Operating revenues 654,517,225.08 650,305,530.50
Including: Sales income 654,517,225.08 650,305,530.50
Interest income
Premium income
Handling charge and
commission income
II. Operating costs 624,697,612.11 631,372,352.57
Including: Cost of sales 558,899,175.07 581,556,792.13
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 147,752.78 51,569.72
Selling and distribution
25,269,299.51 26,292,007.54
expenses
Administrative expenses 34,596,836.45 25,983,523.18
Financial expenses -1,367,596.96 -2,511,540.00
Asset impairment loss 7,152,145.26
Add: Gain/(loss) from change in
16,200.33
fair value (“-” means loss)
Gain/(loss) from investment
945,236.68 1,039,660.19
(“-” means loss)
Including: share of profits in
associates and joint ventures
Foreign exchange gains (“-”
means loss)
III. Business profit (“-” means loss) 30,764,849.65 19,989,038.45
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The Report for the First Quarter of 2016—Changchai Company, Limited
Add: non-operating income 984,455.09 2,741,907.52
Including: Gains on
disposal of non-current assets
Less: non-operating expense 2,132,964.56 1,403,902.58
Including: Losses on
disposal of non-current assets
IV. Total profit (“-” means loss) 29,616,340.18 21,327,043.39
Less: Income tax expense 4,948,885.01 3,712,400.09
V. Net profit (“-” means loss) 24,667,455.17 17,614,643.30
Net profit attributable to
24,282,056.99 17,279,138.61
owners of the Company
Minority shareholders’ income 385,398.18 335,504.69
VI. After-tax net amount of other
-64,322,000.00 79,240,825.00
comprehensive incomes
After-tax net amount of other
comprehensive incomes
-64,322,000.00 79,240,825.00
attributable 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
equity method
(II) Other comprehensive
incomes that will be reclassified -64,322,000.00 79,240,825.00
into 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
-64,322,000.00 79,240,825.00
fair value changes of
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The Report for the First Quarter of 2016—Changchai Company, Limited
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 -39,654,544.83 96,855,468.30
Attributable to owners of the
-40,039,943.01 96,519,963.61
Company
Attributable to minority
385,398.18 335,504.69
shareholders
VIII. Earnings per share
(I) Basic earnings per share 0.04 0.03
(II) Diluted earnings per share 0.04 0.03
Legal representative: Xue Guojun Chief of the accounting work: He Jianguang
Chief of the accounting organ: Jiang He
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The Report for the First Quarter of 2016—Changchai Company, Limited
4. Income statement of the Company
Unit: RMB
Item January-March 2016 January-March 2015
I. Total sales 640,749,505.25 653,717,912.77
Less: cost of sales 553,421,857.04 590,131,833.35
Business taxes and
surcharges
Distribution expenses 23,769,408.12 25,475,290.53
Administrative expenses 30,006,219.55 21,862,823.16
Financial costs -1,638,329.38 -2,958,248.10
Impairment loss 7,152,145.26
Add: gain/(loss) from change in
fair value (“-” means loss)
Gain/(loss) from investment
509,513.02 0.00
(“-” means loss)
Including: income from
investment on associates and joint 330,006.17
ventures
II. Business profit (“-” means
28,547,717.68 19,206,213.83
loss)
Add: non-operating income 807,500.77 2,226,636.67
Including: Gains on disposal
of non-current assets
Less: non-operating expense 2,132,964.56 1,403,902.58
Including: Losses on disposal
of non-current assets
III. Total profit (“-” means loss) 27,222,253.89 20,028,947.92
Less: Income tax expense 4,771,744.93 3,504,342.19
IV. Net profit (“-” means loss) 22,450,508.96 16,524,605.73
V. After-tax net amount of other
-64,322,000.00 79,240,825.00
comprehensive incomes
(I) Other comprehensive
incomes that will not be
reclassified into gains and losses
1. Changes in net liabilities
or assets with a defined benefit
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The Report for the First Quarter of 2016—Changchai Company, Limited
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 -64,322,000.00 79,240,825.00
into 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 -64,322,000.00 79,240,825.00
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
VI. Total comprehensive incomes -41,871,491.04 95,765,430.73
VII. Earnings per share
(I) Basic earnings per share
(II) Diluted earnings per share
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The Report for the First Quarter of 2016—Changchai Company, Limited
5. Consolidated cash flow statement
Unit: RMB
Item January-March 2016 January-March 2015
I. Cash flows from operating
activities:
Cash received from sale of
commodities and rendering of 570,710,622.97 625,633,539.16
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
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 15,643,486.32 17,902,474.19
Other cash received relating to
3,992,946.72 4,650,532.01
operating activities
Subtotal of cash inflows from
590,347,056.01 648,186,545.36
operating activities
Cash paid for goods and 464,404,385.99 539,391,667.22
23
The Report for the First Quarter of 2016—Changchai Company, Limited
services
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 100,039,282.31 85,163,263.66
Various taxes paid 11,273,422.74 11,994,626.47
Other cash payment relating to
20,577,661.19 9,841,900.10
operating activities
Subtotal of cash outflows from
596,294,752.23 646,391,457.45
operating activities
Net cash flows from operating
-5,947,696.22 1,795,087.91
activities
II. Cash flows from investing
activities:
Cash received from withdrawal
10,000,000.00
of investments
Cash received from return on
534,897.17 918,882.41
investments
Net cash received from
disposal of fixed assets,
21,690.00
intangible assets and other
long-term assets
Net cash received from
disposal of subsidiaries or other
business units
Other cash received relating
0.00
to investing activities
Subtotal of cash inflows from
10,556,587.17 918,882.41
investing activities
Cash paid to acquire fixed 25,322,380.08 18,697,864.76
24
The Report for the First Quarter of 2016—Changchai Company, Limited
assets, intangible assets and other
long-term assets
Cash paid for investment 17,000,000.00
Net increase of pledged loans
Net cash paid to acquire
subsidiaries and other business
units
Other cash payments relating
11,000,000.00 11,000,000.00
to investing activities
Subtotal of cash outflows from
36,322,380.08 46,697,864.76
investing activities
Net cash flows from investing
-25,765,792.91 -45,778,982.35
activities
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 2,500,000.00
Cash paid for interest
expenses and distribution of 222,291.66 389,999.99
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
2,722,291.66 389,999.99
financing activities
25
The Report for the First Quarter of 2016—Changchai Company, Limited
Net cash flows from financing
-2,722,291.66 -389,999.99
activities
IV. Effect of foreign exchange
rate changes on cash and cash
equivalents
V. Net increase in cash and cash
-34,435,780.79 -44,373,894.43
equivalents
Add: Opening balance of
526,716,238.21 464,761,820.50
cash and cash equivalents
VI. Closing balance of cash and
492,280,457.42 420,387,926.07
cash equivalents
26
The Report for the First Quarter of 2016—Changchai Company, Limited
6. Cash flow statement of the Company
Unit: RMB
Item January-March 2016 January-March 2015
I. Cash flows from operating
activities:
Cash received from sale of
commodities and rendering of 543,059,255.40 628,848,753.52
service
Tax refunds received 15,643,486.32 17,902,474.19
Other cash received relating to
3,610,928.20 3,870,921.63
operating activities
Subtotal of cash inflows from
562,313,669.92 650,622,149.34
operating activities
Cash paid for goods and
460,862,240.63 553,755,368.09
services
Cash paid to and for employees 90,442,815.25 75,589,704.96
Various taxes paid 8,725,658.60 11,517,533.51
Other cash payment relating to
18,518,292.09 7,615,099.14
operating activities
Subtotal of cash outflows from
578,549,006.57 648,477,705.70
operating activities
Net cash flows from operating
-16,235,336.65 2,144,443.64
activities
II. Cash flows from investing
activities:
Cash received from retraction
10,000,000.00
of investments
Cash received from return on
179,506.85
investments
Net cash received from
disposal of fixed assets,
21,690.00
intangible assets and 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 10,201,196.85 0.00
27
The Report for the First Quarter of 2016—Changchai Company, Limited
investing activities
Cash paid to acquire fixed
assets, intangible assets and other 24,129,780.08 16,769,264.76
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
24,129,780.08 26,769,264.76
investing activities
Net cash flows from investing
-13,928,583.23 -26,769,264.76
activities
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
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
28
The Report for the First Quarter of 2016—Changchai Company, Limited
V. Net increase in cash and cash
-30,163,919.88 -24,624,821.12
equivalents
Add: Opening balance of
503,933,918.79 430,758,675.98
cash and cash equivalents
VI. Closing balance of cash and
473,769,998.91 406,133,854.86
cash equivalents
II Auditor’s report
Is this Report audited?
□ Yes √ No
This Report is not audited.
29
