Changchai Company, Limited Semi-Annual Report 2017 (Abstract)
Stock Code: 000570, 200570 Stock Name: Changchai A, Changchai B Announcement No.: 2017-017
CHANGCHAI COMPANY, LIMITED
SEMI-ANNUAL REPORT 2017 (ABSTRACT)
I Important Notes
This Abstract is based on the full text of the Semi-Annual Report. In order for a full understanding of the
operating results, financial condition and future development planning of the Company, investors are kindly
reminded to read the full text carefully on the media designated by the China Securities Regulatory Commission
(the “CSRC”).
This Abstract has been prepared in both Chinese and English. Should there be any discrepancies or
misunderstandings between the two versions, the Chinese version shall prevail.
Modified auditor’s opinion:
□ Applicable √ Not applicable
Proposal for profit distribution to or converting capital reserve into share capital for common shareholders for the
Reporting Period, which has been considered and approved by the Board:
□ Applicable √ Not applicable
The Company plans not to distribute cash dividends or bonus shares or convert capital reserve into share capital.
Proposal for profit distribution to preference shareholders for the Reporting Period, which has been considered
and approved by the Board:
□ Applicable √ Not applicable
II Company Profile
1. Stock Profile
Stock name Changchai A, Changchai B Stock code 000570, 200570
Stock exchange Shenzhen Stock Exchange
Contact information Board Secretary Securities Representative
Name He Jianjiang
Office address 123 Huaide Middle Road, Changzhou, Jiangsu, China
Tel. （86）519-68683155
E-mail cchjj@changchai.com
2. Key Operating Results
Indicate by tick mark whether the Company needs to retroactively restate any of its accounting data.
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Changchai Company, Limited Semi-Annual Report 2017 (Abstract)
□ Yes √ No
Reporting Period Same period of last year +/- (%)
Operating revenues (RMB) 1,308,106,180.92 1,163,660,721.69 12.41%
Net profit attributable to shareholders of the
39,679,158.13 35,018,142.36 13.31%
Company (RMB)
Net profit attributable to shareholders of the
Company before exceptional profit and loss 20,774,047.49 28,510,501.61 -27.14%
(RMB)
Net cash generated by operating activities
64,379,323.31 118,035,913.29 -45.46%
(RMB)
Basic earnings per share (RMB/share) 0.07 0.06 16.67%
Diluted earnings per share (RMB/share) 0.07 0.06 16.67%
Weighted average return on equity (%) 1.71% 1.76% -0.05%
End of Reporting Period End of last year +/- (%)
Total assets (RMB) 3,814,165,961.66 3,724,857,266.71 2.40%
Net assets attributable to shareholders of the
2,304,915,696.27 2,323,712,892.92 -0.81%
Company (RMB)
3. Shareholders and Their Holdings at Period-End
Unit: share
Total number of preference
Total number of common shareholders at
52,387 shareholders with resumed voting 0
period-end
rights at period-end
Top 10 shareholders
Nature of Shareholdin Total shares Restricted Pledged or frozen shares
Name of shareholder
shareholder g percentage held shares held Status Number
State-owned Assets Supervision
and Administration Commission On behalf of
30.43% 170,845,236
of Changzhou Municipal government
People’s Government
Foreign
KGI Asia Limited 0.57% 3,219,845
corporation
Beijing Shen Zhou Mu
Investment Fund Management
Other 0.45% 2,543,395
Ltd.—Hongyan Shen Zhou Mu
Fund
Tibet Shen Zhou Mu Fund
Management Co., Ltd.—Tianlu
Other 0.35% 1,971,518
Securities Investment Private
Fund No. 10
Zhong Ou Asset
Management-Bank of
China-Ping An Life Insurance- Other 0.34% 1,899,930
Zhong Ou Asset Management -
Ping An Life Insurance
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Changchai Company, Limited Semi-Annual Report 2017 (Abstract)
Entrusted Investment No. 1
Asset Management Plan
Vanguard Total International Foreign
0.29% 1,626,592
Stock Index Fund corporation
Guo Dong Ze Quan Investment
Management Co., Ltd.－Ze
Other 0.29% 1,616,500
Quan Wealth Manager Securities
Investment Fund No. 2
Tibet Shen Zhou Mu Fund
Management Co., Ltd.—Tianlu
Other 0.29% 1,613,081
Securities Investment Private
Fund No. 1
Domestic
Huang Guoliang 0.27% 1,528,891
individual
AVIVA-COFCO－Dividends－
Other 0.27% 1,504,600
Dividends on Personal Insurance
It is unknown whether there was any associated relationship
among the top ten tradable shareholders and among the top ten
Related or acting-in-concert parties among
shareholders above shareholders not subject to trading moratorium, or whether they
are persons acting in concert as described by Measures for the
Administrative of Disclosure of Shareholder Equity Changes.
Shareholder Beijing Shen Zhou Mu Investment Fund
Management Ltd.—Hongyan Shen Zhou Mu Fund held a total of
2,543,395 shares in the Company through a common securities
Shareholders conducting securities margin account and a client account of collateral securities for margin
trading trading, representing a stake of 0.45%, of which the shares in the
client account of collateral securities in Southwest Securities Co.,
Ltd. for margin trading were 968,100 in number, a 0.17% stake in
the Company.
4. Change of Controlling Shareholder or Actual Controller in Reporting Period
Change of the controlling shareholder in the Reporting Period:
□ Applicable √ Not applicable
The controlling shareholder remained the same in the Reporting Period.
Change of the actual controller in the Reporting Period:
□ Applicable √ Not applicable
The actual controller remained the same in the Reporting Period.
5. Number of Preference Shareholders and Shareholdings of Top 10 of Them
□ Applicable √ Not applicable
No preference shareholders in the Reporting Period.
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Changchai Company, Limited Semi-Annual Report 2017 (Abstract)
6. Corporate bonds
Are there any corporate bonds publicly offered and listed on the stock exchange, which were undue before the
approval date of this Report or were due but could not be redeemed in full?
No.
III Performance Discussion and Analysis
1. Performance Review for Reporting Period
Is the Company subject to any disclosure requirements for special industries?
No.
For the first half of 2017, we sold 457,800 units of diesel engines and gasoline engines and generator sets, up
0.66% compared to the same period of last year. We achieved a sales income of RMB1,308,106,180.92 , up
12.41% from the same period of last year. And the net profit attributable to our shareholders stood at
RMB39,679,158.13 , up13.31% on a year-on-year basis.
In the Reporting Period, the Agricultural Machinery Industry continued to face the dual pressures of rising costs
and overcapacity. The agricultural machinery sector was in grave difficulties, with stricter emission rules for
diesel engines, cuts in subsidies for farm machinery, falling grain prices and the low purchasing power of farmers.
Despite the general overcapacity on the single-cylinder diesel engine market, the Company managed to achieve an
increase in both the production and sales volumes of this product and maintained a leading position in this
sub-sector. As for multi-cylinder diesel engines, the sales volume went down compared to the same period of last
year due to the weak market demand, but the sales revenue rose because of higher sales. Meanwhile, due to the
Company’s efforts in expanding market opportunities at home and abroad, the sales volume of plant protection
machinery grew fast, the Company’s products saw an increased sales volume in emerging markets, and the export
revenue registered a year-on-year growth. This year Changzhou Fuji Changchai Robin Gasoline Engine Co.,Ltd.
Sold 79,200 units of gasoline engines and became a new profit growth point.To sum up, in the Reporting Period,
the sales revenue increased while the net profit before exceptional profit and loss went down significantly
compared to the same period of last year because of rising in raw material prices and the appreciation of RMB and
the decline in gross profit margin.
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Changchai Company, Limited Semi-Annual Report 2017 (Abstract)
2. Matters Related to Financial Report
(1) Changes in Accounting Policies, Accounting Estimations and Measurement Methods Compared to Last
Accounting Period
√ Applicable □ Not applicable
As per the revised Accounting Standard No. 16 for Business Enterprises—Governmental Subsidies (CK [2017]
No. 15) unveiled by the Ministry of Finance, the Company applied the prospective application method to the
governmental subsidies existing on January 1, 2017 and adjusted new governmental subsidies arising between that
date and the effective date of the said revised standard according to this standard. The changes in Accounting
Policies has no effects on net assets on June 30, 2017 and on net profits of Previous years.
(2) Retroactive Restatements due to Correction of Significant Accounting Errors in Reporting Period
□ Applicable √ Not applicable
No such cases.
(3) Changes in Scope of Consolidated Financial Statements Compared to Last Accounting Period
√ Applicable □ Not applicable
The consolidation scope of the Reporting Period included the Company (as the parent company) and five
subsidiaries, one more subsidiary than the last accounting period, because Changzhou Fuji Changchai Robin
Gasoline Engine Co., Ltd. became a wholly-owned subsidiary of the Company during the Reporting Period,
which has been consolidated since January 20, 2017.
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