2010 First Quarter Report of
Chongqing Changan Automobile Company Limited
§1 Important Notes
1.1 The Board of Directors, the Supervisory Committee and directors, supervisors and senior management of
Chongqing Changan Automobile Company Limited (hereinafter referred to as “the Company”) warrant that this
report does not contain any false or misleading statements or omit any material facts and all information set forth
herein are true, accurate and complete.
1.2 None of the directors, supervisors, senior management demonstrated uncertainty or disagreement about
the truthfulness, accuracy, and completeness of this quarterly report.
1.3 The financial statements of this quarter have not been audited.
1.4 Chairman Mr. Xu Liuping, General Manager Mr. Zhang Baolin, Chief Accountants Mr. Cui Yunjiang
and Mr. Ni Erke guarantee the truthfulness and completeness of the financial statements of the quarter report.
1.5 The report shall be presented in both Chinese and English, and should there be any conflicting
understanding of the text, the Chinese version shall prevail.
§2 Company Profile
2.1 Main accounting data and financial indicators
In RMB Yuan
Ended this report term Ended previous year Changed by (%)
Gross Assets 26,458,818,344.41 24,471,416,861.89 8.12%
Owners’ Equity Attributable to the Parent
Company 9,575,991,251.70 8,800,120,393.15 8.82%
Share capital 2,325,657,615.00 2,334,022,848.00 -0.36%
Net asset per share attributable to the
owners of the parent company 4.12 3.77 9.28%
This report term Same period last year Changed by (%)
Turnover 9,164,319,010.89 4,876,765,898.57 87.92%
Net profit attributable to the owners of
parent company 789,125,096.08 28,340,139.95 2,684.48%
Cash flow generated by business
operation, net 338,203,897.92 424,538,157.55 -20.34%
Net Cash flow per share generated by
business operation 0.15 0.18 -16.67%
Basic gains per share 0.34 0.01 3,300.00%
Diluted gains per share 0.34 0.01 3,300.00%
Net earnings / asset 8.58% 0.37% 8.21%
Net earnings / capital ratio after
deducting of non-recurring gain/loss 8.60% 0.37% 8.23%
Note:On March 3, 2010, the Company B shares repurchase program was completed. In the repurchase, the Company totally
repurchased 8,365,233 B shares. On March 17, 2010, the Company had finished write-off of share repurchase in the China Securities
Register and Clearing Co., Ltd. Shenzhen Branch, then share capital changed into 2,325,657,615 shares, and related industry
&commerce change formalities were under process.2
Non-recurring gain and loss items
Amount of the period
from the beginning of
year to the end of report
term
Gain/loss of non-current assets -3,073,055.01
Government subsidies accounted into current gain/loss account, other than those closely related to the
Company’s common business, comply with the national policy and continues to enjoy at certain fixed
rate or amount.
199,902.75
Gain/loss from change of fair value of transactional asset and liabilities, and investment gains from
disposal of transactional financial assets and liabilities and sellable financial assets, other than valid
period value instruments related to the Company’s common businesses
1,383,528.00
Other non-business income and expenditures other than the above -350,426.49
Influenced amount of income tax 7,349.65
Influenced amount of miniority shareholders’ equity 553,431.27
Total -1,279,269.83
Reconciliation description under the PRC accounting standards and International Financial Reporting Standards
Mar.31,2010 2010 First
Accountant difference adjustment list Quarter
Net assets Net profits
Workout accountant according to the enterprise accounting rule and syatem under the
PRC 9,575,991,251.70 789,125,096.08
Adjustment of according to international accounting rules
Payment to currency shareholders of A share cash opposite price -71,284,065.00
Workout accountant according to the international finance report rules 9,504,707,186.70 789,125,096.08
2.2 Total number of shareholders at the end of the report period and statement on shares held by
the top ten tradable shareholders
Unit: share
Total shareholders number 223,828
Top ten shareholders of stock without limited sale
Name of shareholders
Total number of shares without
condition of limited sale Share type
CHINA CHANGAN AUTOMOBILE COMPANY
LIMITED 233,402,285 RMB Ordinary share
MANULIFE GLOBAL FUND 19,892,242 Domestic listed foreign shares
DREYFUS PREMIER INVESTMENT FDS
INC.-DREYFUS GREATER CHINA FD 19,850,689 Domestic listed foreign shares
HTHK-MANULIFE CHINA VALUE FUND 18,083,428 Domestic listed foreign shares
BONJOUR CHINA FUND 2 16,568,176 Domestic listed foreign shares
China Constuction Bank－Bosera Thematic Sector Equity
Securities Investment Fund 15,755,632 RMB Ordinary share
China Construction Bank- FullGoal Tianbo the theme of
innovative Securities Investment Fund 15,000,000 RMB Ordinary share
VALUE PARTNERS CLASSIC FUND 14,634,200 Domestic listed foreign shares
China Construction Bank--Securities Investment Fund,
Yinhua Fund Management Co., Ltd. 13,000,000 RMB Ordinary share
Bank Of China－E Fund Shenzhen Stock Exchange 100
Exchange-
Traded Fund
12,612,900 RMB Ordinary share3
§3 Important Matters
3.1 Significant changes in major accounting data, financial highlight and reason of these changes.
√Applicable □Not Applicable
Balance Sheet Items Mar. 31th 2010 Jan. 1th 2010 Changes
Account receivable 768,250,849.32 139,780,325.50 449.61%
Other account receivable 299,246,890.57 71,911,872.86 316.13%
Prepayment received 1,764,950,914.44 3,019,887,384.83 -41.56%
Expected liabilities 572,763,190.01 416,077,626.26 37.66%
Tax payable 431,521,139.34 238,873,041.99 80.65%
Income Statement Items Jan-Mar 2010 Jan-Mar 2009 Changes
Business income 9,164,319,010.89 4,876,765,898.57 87.92%
Business cost 7,343,749,103.34 3,978,357,334.90 84.59%
Business tax and surcharge 227,826,128.17 98,970,758.33 130.20%
Sales expense 973,327,096.97 505,720,687.36 92.46%
Financial expenses -13,123,482.47 2,178,697.80 -702.35%
Investment gain 540,349,306.06 -11,645,835.18 4739.85%
Gross profit 842,816,179.34 12,818,111.48 6475.20%
Income tax expenses 52,092,989.28 -14,915,195.19 449.26%
Net profit attributable to the
owners of parent company 789,125,096.08 28,340,139.95 2684.48%
Cash Flow Statement Items Jan-Mar 2010 Jan-Mar 2009 Changes
Cash flow generated by business
operation, net 338,203,897.92 424,538,157.55 -20.34%
Net cash flow generated by
investment -462,108,470.14 -275,268,809.28 -67.88%
Net cash flow generated by
financing -16,659,029.30 49,748,584.34 -133.49%
Net increase of cash and cash
equivalents -140,647,001.93 199,017,932.61 -170.67%
During reporting period, the Company's innovative marketing management and car sales overall continued to increase
substantially from January to March 2010, with a sale record 552,996 vehicles, up 85.73% than last year. Mini-van and truck sold
291,965 units, up 77.35% than last year; Changan’s own brand car sold 56,016 units, with an increase of 229.62% than last year.
Meanwhile the Company continued to strengthen cost control and product structure optimization, Changan’s own brand business
increased profitability, and investment income from the joint venture had year on year increase, achieving good operating results.
Production and sales scale expanded, until the reporting period end the Company's total assets was RMB 26.459 billion Yuan, up
8.12% compared with the beginning of the year. The total liabilities were RMB 16.787 billion yuan, up 7.77% over the start of the year.
The debt ratio was 63.44% at moderate levels.
Due to substantial growth in car sales during the reporting period, operating income, operating costs, sales taxes &surtax and sales
expenses averagely increased significantly than last year. The increased investment income during the reporting period mainly came
from the joint venture: Changan Ford Mazda Corporation’s investment income had an increase of RMB 382 million yuan than last
year, Jiangling Holding’s investment income increased by RMB 69 million yuan than last year, Changan Ford Mazda Engine’s
investment income with an increase of RMB 49 million yuan and investment income of Changan Suzuki increased by RMB 30 million
yuan. Income growth rate during the reporting period is greater than the cost growth, gross margin levels are increased, the main
business continued to improve profitability, and investment return grew. Total profit, net profit attributable to parent company grew
respectively over the same period last year by 2684.48% and 6475.2%.
During the reporting period, the Company achieved net increase in cash and cash equivalents by RMB -141 million yuan, down
by 170.67% than last year, mainly due to the Company's automotive product line expansion, increased fixed assets acquisition and the
bank borrowings balance decrease.
3.2 The progress and influence of significant events and the analysis and explanation on resolving proposal4
□Applicable √Not Applicable
3.3 The fulfillment of the commitment made by the Company, shareholders and the actual controller
√Applicable □Not Applicable
Commitments Content of commitments Implementation
Commitments made
when share merger
reform
(1) To comply with laws, rules and regulations,
and perform legal duty of commitment.
(2) Since the non-circulated shares are entitled to
be circulated, at least they can’t be dealt with or
transferred within 24 months. At the expiration of
24 months, the shareholders of non-circulated
shares can sell the shares in stock exchange in
amount of no more than 5% of total within 12
months, and no more than 10% of total within 24
months.
(3) After the reform of non-tradable shares, the
Company performs the scheme of incentive
share awards for the managements according to
relative government regulation.
The controlling shareholder of the Company,
China South Industry Automobile Co., Ltd. since
the reform program being implementation, strictly
compliance with the share-trading reform
commitments made by it. The Company
management has yet launch an equity incentive
plan. According to the "Statement on Changan
Automobile Co., Ltd. share structure reform of
the relevant commitments and the
implementation of that" issued by the Company’s
controlling shareholder, China South Industry
Automobile Co., Ltd., incentive plan will be
studied and implement timely according to
SASAC’s provisions."
3.4 Warnings of possible loss or large-margin change of the accumulated net profit made during the period from
the beginning of the year to the end of the next report period compared with the same period of the last year
according to prediction, as well as explanations on the reasons
□Applicable √Not Applicable
3.5 Other significant events need to be explained
3.5.1 Securities investment
√Applicable □Not Applicable
No Type Securities
code
Short form of
Stock
Initial
Investment
(Yuan)
Share held at
the
period-end
(share)
Book value at the
period-end
(Yuan)
Proportion in
total
investment on
securities at
the
period-end
(%)
Gains and losses
in the report
period (Yuan)
1 stock 600369 SouthWest
Securities 50,000,000.00 17,750,000.00 216,727,500.00 100.00% 0.00
Other securities investment held at the period-end -
Gains and losses from securities investment sold in
the report period - - - -
Total 50,000,000.00 - 216,727,500.00 100.00% 0.00
Explanation on securities investment Naught
The former legal person shares of Southwest Securities held by the Company were transferred into circulated equity in Southwest
Securities Inc. in 2009 as 17.75 million restricted shares, and restricted shares sale period lasted 36 months from February 17, 2009, the
company confirmed it as available for financial assets sale and measureable at fair value.
3.5.2 Interviews and visits in the reporting period
√Applicable □Not Applicable
Time/date Place Way Visitors Main content involved and material
provided
2010.1.5 Meeting Room,
Changan Headquarters On-Site Survey Value Partners Ltd Automotive Industry Development and
Company’s Business
2010.1.6 Meeting Room,
Changan Headquarters On-Site Survey Dong Xing Securities Automotive Industry Development and
Company’s Business5
2010.1.11 Meeting Room,
Changan Headquarters On-Site Survey Gao Hua Securities Automotive Industry Development and
Company’s Business
2010.1.18 Meeting Room,
Changan Headquarters On-Site Survey DAIWA Automotive Industry Development and
Company’s Business
2010.1.19 Meeting Room,
Changan Headquarters On-Site Survey Huatai United Securities、HuaAn
Funds
Automotive Industry Development and
Company’s Business
2010.1.21 Meeting Room,
Changan Headquarters On-Site Survey Deutsche Bank Automotive Industry Development and
Company’s Business
2010.3.8 Meeting Room,
Changan Headquarters On-Site Survey
Huatai United Securities、Sinolink
Securities、Shenyin & Wanguo
Securities
Automotive Industry Development and
Company’s Business
2010.3.11 Meeting Room,
Changan Headquarters On-Site Survey CLSA Automotive Industry Development and
Company’s Business
2010.3.15 Meeting Room,
Changan Headquarters On-Site Survey NOMURA Automotive Industry Development and
Company’s Business
2010.3.18 Meeting Room,
Changan Headquarters On-Site Survey Morgan Stanley Automotive Industry Development and
Company’s Business
2010.3.19 Meeting Room,
Changan Headquarters On-Site Survey China Merchants Securities Automotive Industry Development and
Company’s Business
3.5.3 Statement on other significant issues
√Applicable □Not Applicable
1.According to the proposal on buy-back partial domestic listed foreign shares (B shares) , examined and passed on the second
temporary Shareholder Meeting on March 3, 2009, the Company’s domestic partial foreign shares (B shares) listed in China expired to
buy back until March 3, 2010, and the Company's B shares repurchase program was completed. In the repurchase, the company’s
repurchased total number of B shares accumulated to 8,365,233 shares, occupying 0.3584% of the company's total share capital. On
March 17, 2010, the Company had finished write-off of share repurchase in the China Securities Register and Clearing Co., Ltd.
Shenzhen Branch, carried out industry &commerce change formalities related to capital reduction, and timely fulfilled information
disclosure obligations according to the related regulations.
2. According to the related proposal to issue additional A shares to raise funds, which was examined and approved on the first time
temporary General Shareholders’ Meeting on March 8, 2010 meeting, the Company will issue share less than 20% of total capital stock
before the issuance, to raise not more than RMB 4 billion yuan (including issuance costs) which will be used for Changan car
production line expansion, technological transformation projects, small-displacement engine upgrading projects, and its own brand
R&D capacity-building projects. The current application materials have been submitted to the China Securities Regulatory
Commission.6
§4. Attachment
4.1 Balance Sheet
Prepared by: CHONGQING CHANGAN AUTOMOBILE CO., LTD. Mar.31th 2010 in RMB yuan
Items ConsoliAdta ttehde end Poaf rteenrmt c ompany ConsoliBdeagteindn ing Poaf rteenrmt c ompany
Current asset:
Monetary fund 3,319,853,076.75 1,745,770,054.01 3,460,500,078.68 1,973,263,003.71
Settlement provision
Outgoing call loan
Trading financial assets
Notes receivable 7,649,752,580.23 6,333,781,655.28 7,019,787,791.84 5,372,680,455.66
Account receivable 768,250,849.32 909,034,177.04 139,780,325.50 581,698,017.44
Prepayment 415,147,906.58 382,181,980.18 431,355,154.55 329,644,151.89
Insurance receivable
Reinsurance receivable
Provisions of Reinsurance contracts receivable
Interest receivable
Dividend receivable 450,030.00 450,030.00 450,030.00 450,030.00
Other account receivable 299,246,890.57 159,487,895.72 71,911,872.86 129,910,087.06
Repurchasing of financial assets
Inventories 2,319,738,642.92 1,480,531,499.33 2,504,000,463.04 1,438,979,289.27
Non-current asset due in 1 year
Other current asset 220,399.87 20,508.87
Total of current asset 14,772,660,376.24 11,011,237,291.56 13,627,806,225.34 9,826,625,035.03
Non-current assets
Loans and payment on other’s behalf disbursed
Disposable financial asset 216,727,500.00 216,727,500.00 238,205,000.00 238,205,000.00
Expired investment in possess
Long-term receivable
Long-term share equity investment 5,296,768,031.49 6,376,512,755.93 4,778,574,016.34 5,856,668,740.78
Property investment 64,919,861.10 65,563,825.59
Fixed assets 3,208,074,506.25 2,629,145,611.15 3,149,234,754.29 2,572,674,562.93
Construction in process 1,476,146,937.15 1,340,282,415.45 1,297,536,616.44 1,226,791,383.39
Engineering material 795,898.75 795,898.75 838,718.75 838,718.75
Fixed asset disposal 35,444.88 869,564.07
Production physical assets
Gas & petrol
Intangible assets 436,552,059.62 312,445,116.33 370,988,817.11 250,935,419.01
R&D expense 141,498,378.20 141,497,420.15 200,849,901.80 199,526,282.03
Goodwill 9,804,394.00 9,804,394.00
Long-term prepaid expenses 3,431,234.91 1,215,540.00 3,783,684.69 1,260,560.00
Differed income tax asset 344,323,721.82 229,041,520.66 320,281,343.47 204,563,633.47
Other non-current asset 487,080,000.00 487,080,000.00 407,080,000.00 407,080,000.007
Total of non-current assets 11,686,157,968.17 11,734,743,778.42 10,843,610,636.55 10,958,544,300.36
Total of assets 26,458,818,344.41 22,745,981,069.98 24,471,416,861.89 20,785,169,335.39
Current liabilities
Short-term loans 213,551,700.00 50,000,000.00 225,270,268.00 50,000,000.00
Loan from Central Bank
Deposit received and hold for others
Call loan received
Trade off financial liabilities 3,180,216.00 4,563,744.00
Notes payable 2,730,301,399.82 2,681,800,774.13 2,760,920,841.39 2,716,438,173.31
Account payable 7,766,352,066.81 5,397,976,301.15 6,288,951,005.10 3,988,443,774.45
Prepayment received 1,764,950,914.44 1,156,823,790.03 3,019,887,384.83 1,718,105,586.42
Selling of repurchased financial assets
Fees and commissions receivable
Employees’ wage payable 133,139,686.79 108,501,712.42 175,251,214.57 145,719,031.19
Tax payable 431,521,139.34 399,201,481.50 238,873,041.99 289,396,852.43
Interest payable 420,000.00 420,000.00 420,000.00 420,000.00
Dividend payable 79,742.80 79,742.80
Other account payable 676,849,861.65 218,038,860.56 587,582,561.57 416,328,996.78
Reinsurance fee payable
Insurance contract provision
Entrusted trading of securities
Entrusted selling of securities
Non-current liability due in 1 year 265,000,000.00 250,000,000.00 15,000,000.00
Other current liability 1,486,649,619.78 864,990,537.45 842,516,160.16 465,475,119.91
Total of current liability 15,471,996,347.43 11,127,753,457.24 14,159,315,964.41 9,790,327,534.49
Non-current liabilities
Long-term borrowings 168,000,000.00 50,000,000.00 424,000,000.00 300,000,000.00
Bond payable
Long-term payable
Special payable 523,603,498.19 523,603,498.19 515,089,405.79 515,089,405.79
Expected liabilities 572,763,190.01 329,297,973.68 416,077,626.26 222,800,775.48
Differed income tax liability 29,077,125.00 29,077,125.00 32,298,750.00 32,298,750.00
Other non-recurring liabilities 21,355,116.82 21,355,116.82 30,081,000.00 22,216,000.00
Total of non-current liabilities 1,314,798,930.02 953,333,713.69 1,417,546,782.05 1,092,404,931.27
Total of liability 16,786,795,277.45 12,081,087,170.93 15,576,862,746.46 10,882,732,465.76
Owners’ equity (or shareholders’ equity)
Practical capital collected (or share capital) 2,325,657,615.00 2,325,657,615.00 2,334,022,848.00 2,334,022,848.00
Capital reserves 1,661,520,746.14 1,827,687,352.42 1,693,335,482.05 1,859,502,088.33
Less: Shares in stock 26,925,731.38 26,925,731.38
Special reserves
Surplus reserves 1,167,011,424.00 1,167,011,424.00 1,167,011,424.00 1,167,011,424.00
Common risk provision
Attributable profit 4,421,801,466.56 5,344,537,507.63 3,632,676,370.48 4,568,826,240.68
Different of foreign currency translation
Total of owner’s equity belong to the parent company 9,575,991,251.70 10,664,893,899.05 8,800,120,393.15 9,902,436,869.63
Minor shareholders’ equity 96,031,815.26 94,433,722.288
Total of owners’ equity 9,672,023,066.96 10,664,893,899.05 8,894,554,115.43 9,902,436,869.63
Total of liabilities and owners’ equity 26,458,818,344.41 22,745,981,069.98 24,471,416,861.89 20,785,169,335.399
4.2 Income Statement of the report term
Prepared by: CHONGQING CHANGAN AUTOMOBILE CO., LTD.. Jan-Mar 2010 in RMB yuan
Items ConsolidaCteudrr ent Ptearrmen t company ConsSoalimdaet epde riodP laarsetn yte caorm pany
I. Total business income 9,164,319,010.89 6,561,393,364.36 4,876,765,898.57 3,077,226,928.25
Incl. Business income 9,164,319,010.89 6,561,393,364.36 4,876,765,898.57 3,077,226,928.25
Interest income
Insurance fee earned
Fee and commission received
II. Total business cost 8,859,454,856.51 6,280,654,531.67 4,852,216,424.38 3,036,417,433.54
Incl. Business cost 7,343,749,103.34 5,224,644,307.43 3,978,357,334.90 2,483,834,128.94
Interest expense
Fee and commission paid
Insurance discharge payment
Net claim amount paid
Net insurance policy reserves provided
Insurance policy dividend paid
Reinsurance expenses
Business tax and surcharge 227,826,128.17 178,125,487.04 98,970,758.33 67,725,015.59
Sales expense 973,327,096.97 648,615,727.95 505,720,687.36 275,031,048.83
Administrative expense 327,676,010.50 245,426,424.52 252,716,438.60 204,895,617.63
Financial expenses -13,123,482.470 -16,157,415.270 2,178,697.80 -9,687,606.670
Asset impairment loss 14,272,507.39 14,619,229.22
Plus: Gains from change of fair value (“-“ for loss) 1,383,528.00
Investment gain (“-“ for loss) 540,349,306.06 540,349,306.06 -11,645,835.180 -11,645,835.180
Incl. Investment gains from affiliates 518,194,015.15 518,194,015.15 -11,645,835.180 -11,645,835.180
Gains from currency exchange (“-“ for loss)
III. Operational profit (“-“ for loss) 846,596,989.44 821,088,138.75 12,903,639.01 29,163,659.53
Plus: Non business income 1,171,439.23 943,731.93 557,233.89 76,217.25
Less: Non-business expenses 4,952,249.33 1,119,300.00 642,761.42
Incl. Loss from disposal of non-current assets 3,058,055.01 123,743.74
IV. Gross profit (“-“ for loss) 842,816,179.34 820,912,570.68 12,818,111.48 29,239,876.78
Less: Income tax expenses 52,092,989.28 45,201,303.73 -14,915,195.190 -17,655,776.820
V. Net profit (“-“ for net loss) 790,723,189.06 775,711,266.95 27,733,306.67 46,895,653.60
Net profit attributable to the owners of parent company 789,125,096.08 775,711,266.95 28,340,139.95 46,895,653.60
Minor shareholders’ equity 1,598,092.98 -606,833.280
VI. Earnings per share:
(I) Basic earnings per share 0.34 0.01
(II) Diluted earnings per share 0.34 0.01
VII. Other misc. incomes -18,255,875.00 -18,255,875.00
VIII. Total of misc. incomes 772,467,314.06 757,455,391.95 27,733,306.67 46,895,653.60
Total of misc. incomes attributable to the owners of
the parent company 770,869,221.08 757,455,391.95 27,733,306.67 46,895,653.60
Total misc gains attributable to the minor shareholders 1,598,092.9810
4.3 Cash Flow Statement from the beginning of year to the end of report term.
Prepared by: Prepared by: CHONGQING CHANGAN AUTOMOBILE CO., LTD.. Jan-Mar 2010 in RMB yuan
Items ConsolidaCteudrrentP taerremn t company ConsSoalimdaet epde riodP laarsetn yt ecaorm pany
I. Net cash flow from business operation
Cash received from sales of products and providing of
services 5,974,406,702.34 5,177,001,985.20 3,023,029,539.41 2,299,073,293.75
Net increase of customer deposits and capital kept for
brother company
Net increase of loans from central bank
Net increase of inter-bank loans from other financial bodies
Cash received against original insurance contract
Net cash received from reinsurance business
Net increase of client deposit and investment
Net increase of trade financial asset disposal
Cash received as interest, processing fee, and commission
Net increase of inter-bank fund received
Net increase of repurchasing business
Tax returned 8,698,847.07 17,350,843.26
Other cash received from business operation 80,557,894.53 11,384,848.34 17,161,941.49 4,836,734.18
Sub-total of cash inflow from business activities 6,063,663,443.94 5,188,386,833.54 3,057,542,324.16 2,303,910,027.93
Cash paid for purchasing of merchandise and services 3,844,480,716.34 3,404,301,773.74 1,828,326,994.50 1,562,939,360.40
Net increase of client trade and advance
Net increase of savings in central bank and brother company
Cash paid for original contract claim
Cash paid for interest, processing fee and commission
Cash paid for policy dividend
Cash paid to staffs or paid for staffs 336,885,657.30 282,480,666.37 189,381,642.75 153,715,411.84
Taxes paid 720,607,843.29 610,776,497.69 269,669,286.47 179,151,738.66
Other cash paid for business activities 823,485,329.09 712,565,543.53 345,626,242.89 287,946,210.95
Sub-total of cash outflow from business activities 5,725,459,546.02 5,010,124,481.33 2,633,004,166.61 2,183,752,721.85
Cash flow generated by business operation, net 338,203,897.92 178,262,352.21 424,538,157.55 120,157,306.08
II. Cash flow generated by investing
Cash received from investment retrieving 4,900,000.00 4,900,000.00
Cash received as investment gains 22,155,290.91 22,155,290.91
Net cash retrieved from disposal of fixed assets, intangible
assets, and other long-term assets 11,660,177.76 10,652,517.03 280,881.84 67,008.54
Net cash received from disposal of subsidiaries or other
operational units
Other investment-related cash received 90,000.00
Sub-total of cash inflow due to investment activities 38,715,468.67 37,707,807.94 370,881.84 67,008.54
Cash paid for construction of fixed assets, intangible assets
and other long-term assets 494,273,938.81 433,144,872.32 273,743,320.97 248,764,800.14
Cash paid as investment 6,550,000.00 6,550,000.00 1,896,370.15 1,896,370.15
Net increase of loan against pledge
Net cash received from subsidiaries and other operational
units
Other cash paid for investment activities
Sub-total of cash outflow due to investment activities 500,823,938.81 439,694,872.32 275,639,691.12 250,661,170.2911
Net cash flow generated by investment -462,108,470.14 -401,987,064.38 -275,268,809.28 -250,594,161.75
III. Cash flow generated by financing
Cash received as investment
Incl. Cash received as investment from minor shareholders
Cash received as loans 190,204,176.00 457,807,992.00 250,000,000.00
Cash received from bond placing
Other financing-related cash received 621,759.78 1,637.47 1,390,637.52
Subtotal of cash inflow from financing activities 190,825,935.78 1,637.47 459,198,629.52 250,000,000.00
Cash to repay debts 197,922,744.00 398,645,859.80 250,000,000.00
Cash paid as dividend, profit, or interests 9,520,276.14 3,769,875.00 10,601,234.94 10,014,445.00
Incl. Dividend and profit paid by subsidiaries to minor
shareholders
Other cash paid for financing activities 41,944.94 202,950.44
Subtotal of cash outflow due to financing activities 207,484,965.08 3,769,875.00 409,450,045.18 260,014,445.00
Net cash flow generated by financing -16,659,029.30 -3,768,237.53 49,748,584.34 -10,014,445.00
IV. Influence of exchange rate alternation on cash and cash
equivalents -83,400.41
V. Net increase of cash and cash equivalents -140,647,001.93 -227,492,949.70 199,017,932.61 -140,451,300.67
Plus: Balance of cash and cash equivalents at the beginning
of term 3,460,500,078.68 1,973,263,003.71 1,614,390,750.93 1,166,965,437.50
VI. Balance of cash and cash equivalents at the end of term 3,319,853,076.75 1,745,770,054.01 1,813,408,683.54 1,026,514,136.83
4.4 Auditors’Report Auditing Opinion: Unaudited
