Changchai Company, Limited Third Quarterly Report 2022
Stock Code: 000570, 200570 Stock Name: Changchai, Changchai-B Announcement No. 2022-059
CHANGCHAI COMPANY, LIMITED
THIRD QUARTERLY REPORT 2022
Changchai Company, Limited (hereinafter referred to as the “Company”) and all the
me mbers of the Company’s Board of Directors hereby guarantee that the contents of this
Report are true, accurate and complete and free of any misrepresentations, misleading
statements or material omissions.
Important Notes:
1. The Board of Directors, the Supervisory Committee as well as the directors, supervisors and senior
management of the Company hereby guarantee that the contents of this Report are true, accurate and complete
and free of any misrepresentations, misleading statements or material omissions, and collectively and
individually accept legal responsibility for such contents.
2. The Company’s legal representative, General Manager, and head of the financial department (equivalent to
financial manager) hereby guarantee that the financial statements carried in this Report are true, accurate and
complete.
3. Indicate whether the financial statements in this Report have been audited by an independent auditor.
□Yes √ No
I Key Financial Information
(I) Key Accounting Data and Financial Indicators
Indicate by tick mark whether there is any retrospectively restated datum in the table below.
□ Yes √ No
Q3 2022 YoY change (%) Q1-Q3 2022 YoY change (%)
Operating revenue
545,599,669.07 12.68% 1,723,822,161.11 -13.00%
(RMB)
Net profit attributable to
the listed company’s 150,405,621.57 —— 135,810,351.96 28.47%
shareholders (RMB)
Net profit attributable to
the listed company’s
-5,566,500.16 —— -11,375,860.23 ——
shareholders before
exceptional items (RMB)
Net cash generated
from/used in operating —— —— -82,550,839.42 ——
activities (RMB)
Basic earnings per share
0.2131 —— 0.1924 10.96%
(RMB/share)
Diluted earnings per
0.2131 —— 0.1924 10.96%
share (RMB/share)
Weighted average return 4.75% 5.50% 4.21% -0.33%
1
Changchai Company, Limited Third Quarterly Report 2022
on equity (%)
31 December
30 September 2022 Change (%)
2021
Total assets (RMB) 5,399,636,868.12 4,860,382,961.26 11.09%
Equity attributable to the
listed company’s 3,301,798,721.38 3,077,550,018.33 7.29%
shareholders (RMB)
(II) Exceptional Gains and Losses
√ Applicable □ Not applicable
Unit: RMB
Item Q3 2022 Q1-Q3 2022 Note
Gain or loss on disposal of non-current assets
0.00 -361,395.36
(inclusive of impairment allowance write-offs)
Government grants through profit or loss
(exclusive of government grants continuously
given in the Company’s ordinary course of 1,443,881.22 3,046,711.99
business at fixed quotas or amounts as per the
government’s policies and standards)
Increased fair value
Gain or loss on fair-value changes on held-for-
of the equity
trading financial assets and liabilities & income
interests held
from disposal of held-for-trading financial assets
directly by the
and liabilities and available-for-sale financial 179,686,038.72 159,941,932.72
Company in Jiangsu
assets (exclusive of the effective portion of
Horizon New
hedges that arise in the Company’s ordinary
Energy Technology
course of business)
Co., Ltd.
Non-operating income and expense other than
702,366.96 2,660,006.90
the above
Less: Income tax effects 25,851,232.01 18,094,554.73
Non-controlling interests effects (net of
8,933.16 6,489.33
tax)
Total 155,972,121.73 147,186,212.19 --
Other items that meet the definition of exceptional gain/loss:
□ Applicable √ Not applicable
No such cases in the Reporting Period.
Explanation of why the Company reclassifies as recurrent an exceptional gain/loss item listed in the
Explanatory Announcement No. 1 on Information Disclosure for Companies Offering Their Securities to the
Public—Exceptional Gain/Loss Items:
□ Applicable √ Not applicable
No such cases in the Reporting Period.
(III) Changes in Key Financial Statement Line Items and Explanation of why
√ Applicable □ Not applicable
1. Consolidated Balance Sheet Items
30 September 1 January 2022 Change
Item Explanation of why
2022 (RMB) (RMB) (%)
Held-for-trading Decreased idle funds out of the amount
276,615,340.50 404,053,261.57 -31.54%
financial assets raised in a private placement that were used
2
Changchai Company, Limited Third Quarterly Report 2022
for investment in wealth management
instruments
Increased bank acceptance notes with low
Notes receivable 466,815,202.65 334,311,236.78 39.63% credit ratings that were endorsed and
transferred or undue but discounted
The Company properly allowed customers’
buying on credit for more markets and multi-
Accounts
992,868,051.36 375,209,126.48 164.62% cylinder diesel engine customers are mainly
receivable
supporting companies of main engine, which
are usually given longer payment days.
Receivables Decreased bank acceptance notes with high
140,969,635.00 497,388,826.02 -71.66%
financing credit ratings
Increased gains on changes in the fair value
Other non-current of the equity interests held directly by the
373,500,000.00 112,500,000.00 232.00%
financial assets Company in Jiangsu Horizon New Energy
Technology Co., Ltd.
Transfer to fixed assets of wholly-owned
Fixed assets 692,380,621.81 402,915,521.65 71.84% subsidiary Jiangsu Changchai Machinery
Co., Ltd.’s construction in progress
Transfer to fixed assets of wholly-owned
Construction in
78,925,875.74 270,305,690.91 -70.80% subsidiary Jiangsu Changchai Machinery
progress
Co., Ltd.’s construction in progress
Increased prepayments of wholly-owned
Other non-current subsidiary Jiangsu Changchai Machinery
11,611,024.84 4,543,240.88 155.57%
assets Co., Ltd. for construction and engineering
services
Short-term Increased bank acceptance notes with low
244,395,924.99 73,971,466.65 230.39%
borrowings credit ratings that were undue but discounted
Employee benefits Salaries and bonuses accrued last year were
14,097,513.02 45,385,667.48 -68.94%
payable paid in the Reporting Period
Increased fair value of the equity interests
Deferred income
154,831,307.46 117,344,161.11 31.95% held directly by the Company in Jiangsu
tax liabilities
Horizon New Energy Technology Co., Ltd.
Acquisition of a 41.5% interest in Zhenjiang
Non-controlling
70,839,131.13 19,424,230.98 264.69% Siyang Diesel Engine Manufacturing Co.,
interests
Ltd.
2. Consolidated Income Statement Items for Q1~Q3
Q1~Q3 2022 Q1~Q3 2021 Change
Item Explanation of why
(RMB) (RMB) (%)
Increased exchange income and interest
Finance costs -19,745,726.63 823,688.31 ——
income.
Other income 3,046,711.99 766,454.70 297.51% Increased government grants.
Increased gains on cash management with
Return on idle raised funds and own funds,and the
13,836,894.98 8,663,940.64 59.71%
investment Company received dividends from Bank of
Jiangsu Co., Ltd.
Increased fair value of the equity interests
Gain on changes
147,105,037.74 101,609,123.57 44.78% held directly by the Company in Jiangsu
in fair value
Horizon New Energy Technology Co., Ltd.
During the reporting period, the Company
Asset impairment —— withdrew the corresponding provision for
4,947,828.84 -7,356,415.78
loss
clearing obsolete materials.
Non-operating 3,745,972.29 1,268,521.68 195.30% Goodwill in relation to the 41.5% interest in
3
Changchai Company, Limited Third Quarterly Report 2022
income Zhenjiang Siyang Diesel Engine
Manufacturing Co., Ltd. acquired by the
Company.
Net profit
Acquisition of a 41.5% interest in Zhenjiang
attributable to
1,084,518.63 73,487.10 1375.79% Siyang Diesel Engine Manufacturing Co.,
non-controlling
Ltd.
interests
3. Consolidated Cash Flow Statement Items for Q1~Q3
Q1~Q3 2022 Q1~Q3 2021 Change
Item Explanation of why
(RMB) (RMB) (%)
Due to the impact of production and sales
Net cash generated during the reporting period, the cash
from/used in -82,550,839.42 -316,185,740.11 —— expenditure for production, operation and
operating activities procurement decreased, and the fund
collection was intensified.
This is mainly because Jiangsu Changchai
Net cash generated
from/used in -50,712,854.83 -427,869,678.24 —— Machinery Co., Ltd. invested more in the
construction in the previous period, but less
investing activities
in this period.
Arrival of funds raised in a private
Net cash generated
from/used in 52,000,140.67 612,388,654.75 -91.51% placement in the same period of last
year,and there is no such event in the
financing activities
current period.
II Shareholder Information
(I) Numbers of Ordinary Shareholders and Preference Shareholders with Resumed Voting Rights as well
as Holdings of Top 10 Shareholders
Unit: share
Number of ordinary Number of preference shareholders with
53,393 0
shareholders resumed voting rights (if any)
Top 10 shareholders
Shares in pledge, marked or
Name of Nature of Shareholding Total shares Restricted
frozen
shareholder shareholder percentage held shares held
Status Shares
Changzhou
Investment State-owned
32.26% 227,663,417 56,818,181
Group Co., corporation
Ltd.
Domestic
Chen Jian 0.70% 4,905,900 0
individual
KGI ASIA Foreign
0.44% 3,101,695 0
LIMITED corporation
Domestic
Dai Wenping 0.38% 2,705,200 0
individual
Domestic
Yang Xue’e 0.30% 2,111,900 0
individual
Domestic
Su Zhenxing 0.23% 1,592,093 0
individual
Domestic
Li Suinan 0.22% 1,569,100 0
individual
4
Changchai Company, Limited Third Quarterly Report 2022
Huang Domestic
0.22% 1,528,891 0
Guoliang individual
Domestic
Xue Hong 0.20% 1,398,100 0
individual
Domestic
Tao Xiaofang 0.19% 1,310,000 0
individual
Top 10 unrestricted shareholders
Shares by class
Name of shareholder Unrestricted ordinary shares held
Class Shares
RMB-
Changzhou Investment Group
170,845,236 denominated 170,845,236
Co., Ltd.
ordinary share
RMB-
Chen Jian 4,905,900 denominated 4,905,900
ordinary share
Domestically
KGI ASIA LIMITED 3,101,695 listed foreign 3,101,695
share
RMB-
Dai Wenping 2,705,200 denominated 2,705,200
ordinary share
RMB-
Yang Xue’e 2,111,900 denominated 2,111,900
ordinary share
RMB-
Su Zhenxing 1,592,093 denominated 1,592,093
ordinary share
Domestically
Li Suinan 1,569,100 listed foreign 1,569,100
share
Domestically
Huang Guoliang 1,528,891 listed foreign 1,528,891
share
Domestically
Xue Hong 1,398,100 listed foreign 1,398,100
share
RMB-
Tao Xiaofang 1,310,000 denominated 1,310,000
ordinary share
It is unknown whether there is among the top 10 public
shareholders and the top 10 unrestricted public shareholders
Related or acting-in-concert parties among the
any related parties or acting-in-concert parties as defined in
shareholders above
the Administrative Measures for Information Regarding
Shareholding Alteration.
Chen Jian and Dai Wenping respectively held 3,295,000 and
Top 10 shareholders engaged in securities
2,539,200 shares in the Company through their credit
margin trading
accounts.
(II) Number of Preference Shareholders and Shareholdings of Top 10 of Them
□ Applicable √ Not applicable
III Other Significant Events
√ Applicable □ Not applicable
5
Changchai Company, Limited Third Quarterly Report 2022
1. Participation in bidding for 41.5% equity interests in Zhenjiang Siyang Diesel Engine Manufacturing Co.,
Ltd. that was put out for sale
The Sixth Extraordinary Meeting of the Board of Directors in 2021 held by the Company on 28 October 2021
deliberated on and approved the Proposal on Participation in Bidding for 41.5% Equity Interests in Zhenjiang
Siyang Diesel Engine Manufacturing Co., Ltd., authorizing the Management of the Company to participate in
bidding for 41.5% equity interest in Zhenjiang Siyang Diesel Engine Manufacturing Co., Ltd. (hereinafter
referred to as "Zhenjiang Siyang") that had been put out for sale by Jiangsu Keda Assets Marketing Co., Ltd.
(hereinafter, “Keda Assets”). On 12 January 2022, Jiangsu Assets and Equity Exchange Co., Ltd. issued the
Confirmation of Transaction on the Transfer of 41.5% Equity Interests (Corresponding to Capital Contribution
of RMB830,000) in Zhenjiang Siyang Diesel Engine Manufacturing Co., Ltd. The Company won the bid for the
41.5% equity interests in Zhenjiang Siyang at a price of RMB33,520,800.00. On 23 February 2022, the
Company signed the Contract on Transfer of State-owned Property Rights with Keda Assets. On 9 March 2022,
Zhenjiang Siyang has completed the relevant registration alteration formalities with the competent industrial
and commercial administration. On 16 May 2022, Zhenjiang Siyang held meetings of shareholders, the Board
of Directors and the Supervisory Committee to elect and appoint new members for the Board of Directors, the
Supervisory Committee and management. Zhenjiang Siyang has been included in the consolidated financial
statements of the Company.
2. Capital increase to Jiangsu Horizon New Energy Technology Co., Ltd.
On 25 August 2022, the Proposal on an Intended Capital Increase to Jiangsu Horizon New Energy Technology
Co., Ltd. & the Relevant Related-party Transaction was approved at the Fourth Extraordinary Meeting of the
Board of Directors in 2022. As such, the Company was agreed to carry out another capital increase of RMB75
million to Jiangsu Horizon New Energy Technology Co., Ltd. by subscribing for RMB18.8442 million of
additional registered capital at RMB3.98/share. And Chairman of the Board Mr. Shi Xinkun was authorized to
sign the relevant capital increase agreement with the relevant party and handle other matters. Upon this capital
increase, the Company holds a total interest of 5.36% in Jiangsu Horizon New Energy Technology Co., Ltd.
6
Changchai Company, Limited Third Quarterly Report 2022
IV Quarterly Financial Statements
(I) Financial Statements
1. Consolidated Balance Sheet
Prepared by Changchai Company, Limited
30 September 2022
Unit: RMB
Item 30 September 2022 1 January 2022
Current assets:
Monetary assets 645,607,594.39 707,966,678.74
Settlement reserve
Loans to other banks and
financial institutions
Held-for-trading financial assets 276,615,340.50 404,053,261.57
Derivative financial assets
Notes receivable 466,815,202.65 334,311,236.78
Accounts receivable 992,868,051.36 375,209,126.48
Receivables financing 140,969,635.00 497,388,826.02
Prepayments 9,880,041.00 8,197,418.39
Premiums receivable
Reinsurance receivables
Receivable reinsurance contract
reserve
Other receivables 20,427,334.26 19,515,350.52
Including: Interest receivable
Dividends
receivable
Financial assets purchased under
resale agreements
Inventories 503,234,907.64 651,083,758.18
Contract assets
Assets held for sale
Current portion of non-current
assets
Other current assets 31,720,575.63 44,060,822.57
Total current assets 3,088,138,682.43 3,041,786,479.25
Non-current assets:
Loans and advances to customers
Debt investments 37,898,226.39 37,898,226.39
Other debt investments
Long-term receivables
Long-term equity investments
Investments in other equity 906,142,866.29 779,877,646.53
7
Changchai Company, Limited Third Quarterly Report 2022
instruments
Other non-current financial
373,500,000.00 112,500,000.00
assets
Investment property 42,769,898.54 44,597,255.21
Fixed assets 692,380,621.81 402,915,521.65
Construction in progress 78,925,875.74 270,305,690.91
Productive living assets
Oil and gas assets
Right-of-use assets
Intangible assets 157,395,904.88 155,154,745.91
Development costs
Goodwill
Long-term prepaid expense 168,183.91 110,345.30
Deferred income tax assets 10,705,583.29 10,693,809.23
Other non-current assets 11,611,024.84 4,543,240.88
Total non-current assets 2,311,498,185.69 1,818,596,482.01
Total assets 5,399,636,868.12 4,860,382,961.26
Current liabilities:
Short-term borrowings 244,395,924.99 73,971,466.65
Borrowings from the central bank
Loans from other banks and
financial institutions
Held-for-trading financial
liabilities
Derivative financial liabilities
Notes payable 501,477,497.72 550,774,400.00
Accounts payable 775,107,484.19 666,186,668.82
Advances from customers 361,746.26 660,965.62
Contract liabilities 30,463,923.43 26,864,081.97
Financial assets sold under
repurchase agreements
Customer deposits and deposits
from other banks and financial
institutions
Payables for acting trading of
securities
Payables for underwriting of
securities
Employee benefits payable 14,097,513.02 45,385,667.48
Taxes and levies payable 6,265,011.98 5,306,378.82
Other payables 157,030,507.24 148,361,373.29
Including: Interest payable
Dividends payable 3,891,433.83 3,891,433.83
Fees and commissions payable
8
Changchai Company, Limited Third Quarterly Report 2022
Reinsurance payables
Liabilities directly associated with
assets held for sale
Current portion of non-current
liabilities
Other current liabilities 103,352,743.92 88,938,192.79
Total current liabilities 1,832,552,352.75 1,606,449,195.44
Non-current liabilities:
Insurance contract reserve
Long-term borrowings
Bonds payable
Including: Preference shares
Perpetual bonds
Lease liabilities
Long-term payables
Long-term employee benefits
payable
Provisions
Deferred income 39,615,355.40 39,615,355.40
Deferred income tax liabilities 154,831,307.46 117,344,161.11
Other non-current liabilities
Total non-current liabilities 194,446,662.86 156,959,516.51
Total liabilities 2,026,999,015.61 1,763,408,711.95
Owners’ equity:
Share capital 705,692,507.00 705,692,507.00
Other equity instruments
Including: Preference shares
Perpetual bonds
Capital reserves 640,133,963.01 640,676,218.40
Less: Treasury stock
Other comprehensive income 613,336,936.34 506,011,499.55
Specific reserve 18,812,950.04 18,812,950.04
Surplus reserves 334,144,488.46 334,144,488.46
General reserve
Retained earnings 989,677,876.53 872,212,354.88
Total equity attributable to owners
3,301,798,721.38 3,077,550,018.33
of the Company as the parent
Non-controlling interests 70,839,131.13 19,424,230.98
Total owners’ equity 3,372,637,852.51 3,096,974,249.31
Total liabilities and owners’ equity 5,399,636,868.12 4,860,382,961.26
Legal representative: Shi Xinkun General Manager: Zhang Xin
Head of the accounting department: Jiang He
9
Changchai Company, Limited Third Quarterly Report 2022
2. Consolidated Income Statement for Q1~Q3
Unit: RMB
Item Q1~Q3 2022 Q1~Q3 2021
1. Revenues 1,723,822,161.11 1,981,354,126.38
Including: Operating revenue 1,723,822,161.11 1,981,354,126.38
Interest income
Insurance premium income
Fee and commission income
2. Costs and expenses 1,723,250,063.20 1,942,537,176.98
Including: Cost of sales 1,528,285,603.14 1,709,842,352.28
Interest expense
Fee and commission expense
Surrenders
Net insurance claims paid
Net amount provided as insurance contract reserve
Expenditure on policy dividends
Reinsurance premium expense
Taxes and levies 10,481,397.49 9,599,626.55
Selling expense 80,388,110.83 97,211,507.42
Administrative expense 63,510,263.02 69,073,749.70
R&D expense 60,330,415.35 55,986,252.72
Finance costs -19,745,726.63 823,688.31
Including: Interest expense 6,012,305.10 5,806,935.93
Interest income 8,356,889.05 7,246,601.53
Add: Other income 3,046,711.99 766,454.70
Return on investment (“-” for loss) 13,836,894.98 8,663,940.64
Including: Share of profit or loss of joint ventures and
associates
Income from the derecognition of financial assets at
amortized cost (“-” for loss)
Exchange gain (“-” for loss)
Net gain on exposure hedges (“-” for loss)
Gain on changes in fair value (“-” for loss) 147,105,037.74 101,609,123.57
Credit impairment loss (“-” for loss) -13,768,089.86 -13,804,149.22
Asset impairment loss (“-” for loss) 4,947,828.84 -7,356,415.78
Asset disposal income (“-” for loss) -361,395.36 6,459.16
3. Operating profit (“-” for loss) 155,379,086.24 128,702,362.47
Add: Non-operating income 3,745,972.29 1,268,521.68
Less: Non-operating expense 1,092,345.39 481,411.09
4. Gross profit (“-” for loss) 158,032,713.14 129,489,473.06
Less: Income tax expense 21,137,842.55 23,705,272.54
10
Changchai Company, Limited Third Quarterly Report 2022
5. Net profit (“-” for net loss) 136,894,870.59 105,784,200.52
5.1 By operating continuity
5.1.1 Net profit from continuing operations (“-” for net loss) 136,894,870.59 105,784,200.52
5.1.2 Net profit from discontinued operations (“-” for net loss)
5.2 By ownership
5.2.1 Net profit attributable to shareholders of the Company
135,810,351.96 105,710,713.42
as the parent (“-” for net loss)
5.2.1 Net profit attributable to non-controlling interests (“-”
1,084,518.63 73,487.10
for net loss)
6. Other comprehensive income, net of tax 107,325,436.79 122,935,279.81
Attributable to owners of the Company as the parent 107,325,436.79 122,935,279.81
6.1 Items that will not be reclassified to profit or loss 107,325,436.79 122,935,279.81
6.1.1 Changes caused by remeasurements on defined
benefit schemes
6.1.2 Other comprehensive income that will not be
reclassified to profit or loss under the equity method
6.1.3 Changes in the fair value of investments in other
107,325,436.79 122,935,279.81
equity instruments
6.1.4 Changes in the fair value arising from changes in own
credit risk
6.1.5 Other
6.2 Items that will be reclassified to profit or loss
6.2.1 Other comprehensive income that will be reclassified
to profit or loss under the equity method
6.2.2 Changes in the fair value of other debt investments
6.2.3 Other comprehensive income arising from the
reclassification of financial assets
6.2.4 Credit impairment allowance for other debt
investments
6.2.5 Reserve for cash flow hedges
6.2.6 Differences arising from the translation of foreign
currency-denominated financial statements
6.2.7 Other
Attributable to non-controlling interests
7. Total comprehensive income 244,220,307.38 228,719,480.33
7.1 Attributable to owners of the Company as the parent 243,135,788.75 228,645,993.23
7.2 Attributable to non-controlling interests 1,084,518.63 73,487.10
8. Earnings per share
8.1 Basic earnings per share 0.1924 0.1734
8.2 Diluted earnings per share 0.1924 0.1734
Legal representative: Shi Xinkun General Manager: Zhang Xin
Head of the accounting department: Jiang He
11
Changchai Company, Limited Third Quarterly Report 2022
3. Consolidated Cash Flow Statement for Q1~Q3
Unit: RMB
Item Q1~Q3 2022 Q1~Q3 2021
1. Cash flows from operating activities:
Proceeds from sale of commodities and rendering of
1,470,088,784.47 1,631,589,730.09
services
Net increase in customer deposits and deposits from
other banks and financial institutions
Net increase in borrowings from the central bank
Net increase in loans from other financial institutions
Premiums received on original insurance contracts
Net proceeds from reinsurance
Net increase in deposits and investments of policy
holders
Interest, fees and commissions received
Net increase in loans from other banks and financial
institutions
Net increase in proceeds from repurchase transactions
Net proceeds from acting trading of securities
Tax and levy rebates 23,550,037.23 33,014,359.71
Cash generated from other operating activities 17,394,468.43 10,218,300.82
Subtotal of cash generated from operating activities 1,511,033,290.13 1,674,822,390.62
Payments for commodities and services 1,204,438,609.81 1,610,525,132.37
Net increase in loans and advances to customers
Net increase in deposits in the central bank and other
banks and financial institutions
Payments for claims on original insurance contracts
Net increase in loans to other banks and financial
institutions
Interest, fees and commissions paid
Policy dividends paid
Cash paid to and for employees 241,596,494.16 253,758,615.93
Taxes and levies paid 47,369,925.46 31,954,409.88
Cash used in other operating activities 100,179,100.12 94,769,972.55
Subtotal of cash used in operating activities 1,593,584,129.55 1,991,008,130.73
Net cash generated from/used in operating activities -82,550,839.42 -316,185,740.11
2. Cash flows from investing activities:
Proceeds from disinvestment 89,591,553.34 28,222,100.00
Return on investment 13,945,782.65 8,762,954.14
Net proceeds from the disposal of fixed assets,
4,424.78 815,419.17
intangible assets and other long-lived assets
Net proceeds from the disposal of subsidiaries and
other business units
Cash generated from other investing activities 208,889.64
12
Changchai Company, Limited Third Quarterly Report 2022
Subtotal of cash generated from investing activities 103,750,650.41 37,800,473.31
Payments for the acquisition of fixed assets,
42,948,956.55 120,898,051.55
intangible assets and other long-lived assets
Payments for investments 111,514,548.69 344,772,100.00
Net increase in pledged loans granted
Net payments for the acquisition of subsidiaries and
other business units
Cash used in other investing activities
Subtotal of cash used in investing activities 154,463,505.24 465,670,151.55
Net cash generated from/used in investing activities -50,712,854.83 -427,869,678.24
3. Cash flows from financing activities:
Capital contributions received 634,999,996.40
Including: Capital contributions by non-
controlling interests to subsidiaries
Borrowings received 7,000,000.00
Cash generated from other financing activities 83,546,936.65 1,391,000.00
Subtotal of cash generated from financing activities 83,546,936.65 643,390,996.40
Repayment of borrowings 9,000,000.00 17,000,000.00
Interest and dividends paid 19,444,136.67 1,307,343.28
Including: Dividends paid by subsidiaries to non-
controlling interests
Cash used in other financing activities 3,102,659.31 12,694,998.37
Subtotal of cash used in financing activities 31,546,795.98 31,002,341.65
Net cash generated from/used in financing activities 52,000,140.67 612,388,654.75
4. Effect of foreign exchange rates changes on cash and
cash equivalents
5. Net increase in cash and cash equivalents -81,263,553.58 -131,666,763.60
Add: Cash and cash equivalents, beginning of the
573,623,529.10 629,939,540.50
period
6. Cash and cash equivalents, end of the period 492,359,975.52 498,272,776.90
Legal representative: Shi Xinkun General Manager: Zhang Xin
Head of the accounting department: Jiang He
(II) Independent Auditor’s Report
Indicate by tick mark whether the financial statements above have been audited by an independent auditor.
□ Yes √ No
These financial statements have not been audited by such an auditor.
The Board of Directors
Changchai Company, Limited
29 October 2022
13
