Chongqing Changan Automobile Company Limited Semi-annual Report 2013
Chongqing Changan Automobile Company Limited
Semi-annual Report 2013
August 2013
Chongqing Changan Automobile Company Limited Semi-annual Report 2013
I.Important directory and interpretation
The Board of Directors & Supervisors, the directors, supervisors and senior management of the Company
guarantee that the information contained in the report is free of false records, misguiding statements or
significant omissions, and assume individual and joint liabilities for the truthfulness, accuracy and integrity
of the report.
All the members of the Board of Directors attended the meetings of BOD.
For the first half of the year, the Company has no plans of cash dividend distributed, no bonus shares and has
no share converted from capital reserve either.
Chairman Mr. Xu Liuping, Chief Accountant Mr. Cui Yunjiang, and the Chief of Accountant department Mr.
Hua Zhanbiao guarantee: the truthfulness and completeness of the financial statements of this semi-annual
report.
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.
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Chongqing Changan Automobile Company Limited Semi-annual Report 2013
Contents
I Important notes, contents and definitions
General introduction to the Company
II
III Accounting data and summary of financial indexes
IV Report by Board of Directors
Important Issues
V
Change in shares and information about
VI shareholders
Information on directors, supervisors, senior
VII executives and staffs
Financial Statements
VIII
IX Document for future reference
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Chongqing Changan Automobile Company Limited Semi-annual Report 2013
Definition
Changan Auto., the
meaning Chongqing Changan Automobile Company Limited
Company
South Industries meaning China South Industries Group Corp. Company’s actual controller
China Changan, old name: China South Industries Automobile Co., Ltd., a subsidiary company
China Changan meaning
of South Industries
Chongqing Changan Industry(Group) Co., Ltd., old name: Changan Automobile Co., Ltd.,
Changan Industry meaning Changan Automobile (Group) Co., Ltd., a subsidiary company of South Industries, the
controlling shareholder of the Company before December, 2005
Nanjing Changan meaning Nanjing Changan Automobile Co., Ltd., a subsidiary company of the Company
Hebei Changan meaning Hebei Changan Automobile Co., Ltd., a subsidiary company of the Company
Changan Bus meaning Baoding Changan Automobile Co., Ltd., a subsidiary company of the Company
International Company meaning Chongqing Changan Automobile International Sales Service Co., Ltd.
CFA meaning Changan Ford Automobile Co.,，a JV of the Company
CMA meaning Changan Mazda Automobile Co.,，a JV of the Company
CFME meaning Changan Ford Mazda Engine Co., a JV of the Company
Changan Suzuki meaning Chognqing Changan Suzuki Auto. Co.Ltd., a JV of the Company
Jiangling holding meaning Jiangling Holding Co., a JV of the Company
Hafei Group meaning Harbin Hafei Automobile Industry Group Co., Ltd., a subsidiary company of China Changan
Changhe Auto. meaning Changhe Automobile Co., Ltd. , a subsidiary company of China Changan
Chongqing Changan Minsheng APLL Logistics Co., Ltd, a subsidiary company of Changan
CMAL meaning
Industry
Financial Co. of CSGC meaning Financial Co. of China South Industries Group Corporation
Zhonghui Futong meaning ZhongHui fortis investment co., LTD., a subsidiary of China Changan
CAPSA meaning Changan PSA Automobiles Co., Ltd
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Chongqing Changan Automobile Company Limited Semi-annual Report 2013
II. General Introduction to the Company
（一） Company information
Share referred to as Changan Auto, Changan B Share code 000625、200625
Listed securities exchange Shenzheng securities exchange
The company’s legal Chinese
重庆长安汽车股份有限公司
Name
Abbreviations of company’s
长安汽车
legal Chinese Name
The company’s legal English
Chongqing Changan Automobile Company Limited
Name
The company’s legal
Xu Liuping
representative
二、Contacts
representative of securities
The secretary of the board of directors
transaction
Name Cui Yunjiang、Li Jun
No.260 Jianxin East Road, Jiangbei District of
Address
Chongqing
Tel. ０２３-６７５９４００８，６７５９４００９
Fax ０２３-６７８６６０５５
e-mail cazqc@changan.com.cn
III. Others
1. Way of contact
Whether registrations address, offices address and codes as well as website and email of the Company
changed in reporting period or not
□ Applicable √ Not applicable
Registrations address, offices address and codes as well as website and email of the Company have no
change in reporting period. See more details in Annual Report 2012.
2. Information disclosure and preparation place
Whether information disclosure and preparation place changed in reporting period or not
□ Applicable √ Not applicable
The newspaper appointed for information disclosure, website for semi-annual report publish appointed
by CSRC and preparation place for semi-annual report have no change in reporting period. See more details
4
Chongqing Changan Automobile Company Limited Semi-annual Report 2013
in Annual Report 2012.
3. Registration changes of the Company
Whether registration has changed in reporting period or not
□ Applicable √ Not applicable
Date/place for registration of the Company, registration number for enterprise legal license, number of
taxation registration and organization code have no change in reporting period. See more details in
Annual Report 2012.
4. Other relevant information
Whether other relevant information has changed in reporting period or not
□ Applicable √ Not applicable
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Chongqing Changan Automobile Company Limited Semi-annual Report 2013
III. Accounting data and summary of financial indexes
一、Main accounting data and financial indexes
Whether it has retroactive adjustment or re-statement on previous accounting data for accounting policy changed and accounting
error correction or not
□Yes √ No
In RMB yuan
Report period Same period of last year Increase/decrease y-o-y (%)
Operating revenue (RMB) 19,750,954,680.97 14,044,230,553.84 40.63%
Net profit attributable to shareholders of
1,330,969,826.33 570,029,439.95 133.49%
the listed company (RMB)
Net profit attributable to shareholders of
the listed company after deducting 1,299,521,626.57 450,325,986.54 188.57%
non-recurring gains and losses (RMB)
Net cash flow arising from operating
3,654,385,425.30 675,456,384.06 441.02%
activities (RMB)
Basic earnings per share (RMB/Share) 0.29 0.12 141.67%
Diluted earnings per share (RMB/Share) 0.29 0.12 141.67%
Up by 4.37 percentage
Weighted average ROE (%) 8.23% 3.86%
points
Report period Same period of last year Increase/decrease y-o-y (%)
Total assets (RMB) 50,181,922,212.53 46,117,604,792.27 8.81%
Net assets attributable to shareholder of
16,592,795,912.67 15,512,935,348.26 6.96%
the listed company (RMB)
二、non-recurring profit and loss project and cash
In RMB yuan
Project Amount
Gain/loss of non-current assets (including the write-off of assets
-3,186,347.03
depreciation reserves)
The government subsidies included in the current profits and
losses (except government subsidies closely related to corporate 44,194,360.17
business, entitled in fixed quota or quantity)
Profit and loss from contingency items irrelevant with normal business of
the Company profit and loss from fair value changes by holding of -332,407.00
transaction financial assets and liabilities, except effective hedging
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Chongqing Changan Automobile Company Limited Semi-annual Report 2013
business related to normal business of the Company, and investment
income from disposal of transaction financial assets and liabilities as well
as financial assets available for sale
Other non-business income and expenditures other than the above items -1,454,733.16
Subtract: Influenced amount of income tax 7,214,454.61
Influenced amount of miniority shareholders’ equity (after tax) 558,218.61
Total 31,448,199.76
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Chongqing Changan Automobile Company Limited Semi-annual Report 2013
IV. Report by Board of Director
一、Overview
In the first half of 2013, the Company peaked a historical high in production and sales，got progress in operation quality and
achieved good operating results. In the reporting period, the Company and its associated enterprises and joint ventures achieved total
sales of 1,055,000 vehicles. More one million of sales volume in half a year has been achieved first time, with an increase of 18.3%
Y-o-y, 5.5% higher than the average of the automobile industry, in which Chinese brand vehicle sales is of 192,000 units, with an
increase of 81% Y-o-y, 68.2% higher than the industry average, ranking frist among Chinese brands; The production and sales of
Changan Ford are of 289,000 vehicles, with an increase of 63.3% Y-o-y, which ranked frist in the joint venture brand segment. In
Chinese automobile market, the Company achieved a market share of about 9.78%, 0.68% higher than that of last year, and kept
ranking top 4 in Chinese automobile industry. (Data sources: China Association of Automobile Manufacturers)
二、Analysis of Main Business
In the reporting period, the operating revenue of the Company was 19.75 billion RMB Yuan and the net profit was 1.33 billion
RMB Yuan, with an increase of 40.6% and 133.5% Y-o-y respectively. As of 30 June 2013, the Company’s total assets was 50.18
billion RMB Yuan, increased by 8.81% than the beginning of the year; the total liabilities was 33.72 billion RMB Yuan, increased by
9.76% than the beginning of the year, the asset-liability ratio was 67.2%, increased by 0.58% than the beginning of the year. Net
increase in cash and cash equivalents in the reporting period was 270 million RMB Yuan, increased by 333 million RMB Yuan Y-o-y.
In which the subtotal of cash inflow from operating activities was 365 million RMB Yuan, increased by 298 million RMB Yuan Y-o-y,
with a huge increase rate of 441% Y-o-y; the Company has constantly improved its operation quality and enhanced its ability of
earning cash.
Y-o-y changes of main financial data
In RMB yuan
Same period of last Y-o-y Reasons for changes
Current period
year increase/decrease (%)
Operating revenue 19,750,954,680.97 14,044,230,553.84 40.63%
mainly due to the growth in sales y-o-y
Operating costs 16,492,076,497.13 11,823,250,311.18 39.49%mainly due to the growth in sales y-o-y
Sales expenses 1,668,109,237.88 1,296,244,787.45 28.69% mainly due to the growth in freight，warranty
and logistics management expenses y-o-y
mainly due to the increase of development
Administration expenses 1,273,522,351.31 950,910,384.65 33.93% expenses, staff salary, depreciation and
amortization y-o-y
mainly due to the increase of the interest the
Financial expenses 53,562,835.08 -8,913,423.40 700.92% Company should take for corporate bonds
distribution
Assets devaluation 123,431,505.00 -8,990,597.50 1472.90% mainly due to inventory write-down
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Chongqing Changan Automobile Company Limited Semi-annual Report 2013
provision loss, fixed assets impairment and
impairment of intangible assets
mainly due to the increase of investment
Investment income 1,804,771,615.58 732,741,472.73 146.30%
income from Changan Ford
mainly due to the increase of current period
Income tax expenses 29,069,608.63 -42,861,009.89 167.82% income tax expenses and deferred income
tax expenses
R&D investment 528,601,318.06 430,421,296.56 22.81%
Subtotal of cash inflow from
3,654,385,425.30 675,456,384.06 441.02% mainly due to the increase of the cash
operating activities
received fron sales
mainly due to the decrease of the cash
Subtotal of cash inflow from
468,665,053.83 -2,624,428,076.52 117.86% dividends received from Changan Ford and
investment activities
the cash for acquiring fixed assets
Subtotal of cash in-flow from
-1,422,581,277.33 1,316,105,192.96 -208.09% mainly due to the decrease of the bank loan
financing activity
and the corporate bonds distribution
Net increase in cash and cash mainly due to the increase of net cash flow
2,698,868,234.53 -632,145,640.94 526.94%
equivalents caused by the business operation
Major changes on profit composition or profit resources in reporting period
□ Applicable √ Not applicable
No major changes on profit composition or profit resources occurred in reporting period.The future development and planning
extended to reporting period that published in disclosure documents as prospectus, private placing memorandum and recapitalize
statement
□ Applicable √ Not applicable
Review on the previous business plan and its progress during reporting period
In the first half of the year 2013, the Company has achieved the operation target appointed by the BOD in the beginning of the
year, with a sales volume of 1,055,000 vehicles, which occupied 53.5% of the annual business plan target; the sales revenue is 72.01
billion RMB yuan (in which the income from combined statements was 19.75 billion RMB yuan) , completing 54.7% of the annual
business plan target (in which the income from combined statements completed 56.4% of the annual business plan target).
三、Composition of Main Business
in RMB Yuan
Increase or Increase or
decrease of decrease of Increase or decrease
Operating revenue Operating cost
Gross profit operating revenue operating cost of gross profit y-o-y
y-o-y y-o-y
According to industries
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Chongqing Changan Automobile Company Limited Semi-annual Report 2013
Automobile
19,219,823,196.70 16,061,863,837.40 16.43% 41.6% 40.09% Up 0.9%
Production
According to products
（一）
Complete 19,111,073,021.09 15,975,255,306.15 16.41% 41.78% 40.47% Up 0.88%
vehicle
Passenger
8,562,474,136.43 7,276,192,059.37 15.02% 113.81% 111.41% Up 0.96%
Vehicle
Mini Vehicle 9,629,489,283.69 7,860,119,124.22 18.37% 4.42% 1.79% Up 2.11%
（二）
108,750,175.61 86,608,531.25 20.36% 15.67% -6.99% Up 19.4%
Outsourcing
According to region
domestic 18,818,724,488.34 15,697,624,490.80 16.59% 40.07% 38.46% Up 0.97%
overseas 401,098,708.36 364,239,346.60 9.19% 190.23% 183.9% Up 2.03%
四、Analysis of Core Competitiveness
In the first half of the year 2013, the Company has advanced its independent innovation and promoted its production gradually, with
its corporate image upgraded.
In the reporting period, Raeton, Honor have been successfully launched into the market, other key projects such as EADO XT, S301,
D101 and H15TGDI engine have been pushed ahead quickly. Core technical capability has been upgraded rapidly, and the first
Changan Technology Carnival Event has been successfully held, with release of a number of the latest safety technologies including
front airbag safety technology; EADO XT was rated as "the most beautiful hatchback sporty car" by the industry; and universal
platform and universalization have been advanced deeply. Gradual upgrading road of from "structure development " to "performance
development", then to “quality development"for independent research and development has been formed.
The Company participated in Shanghai international auto show with its indigenous brand and successfully launched five new models
including CS95 concept car and EADO XT. It carried out innovation brand promulgation and a series of activities including entering
into the community, into the campus, into the business district, into the enterprises, into the counties, as well as carried out brand
activity of “Changan automobile technology experience camp", to enhance the brand image.
五、Investment analysis
1、Foreign equity investment
（1）Foreign equity investment
Foreign equity investment
The amount of investment during investment amount of the same amplitude of fluctuation
the report period (yuan) period last year (yuan)
3,086,000.00 9,000,000.00 -65.71%
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Chongqing Changan Automobile Company Limited Semi-annual Report 2013
The invested company
Listing Corporation accounted for
by investment company's equity
Company name Main business
proportion
Chongqing Changan Suzuki Co. Ltd Automobile manufacture sales 51%
JMC Holdings Limited Automobile manufacture sales 50%
Changan Ford Automobile Co., Ltd. Automobile manufacture sales 50%
Changan Mazda Automobile Co.
Automobile manufacture sales 50%
Ltd.
Automobile engines and parts
Changan Ford Mazda Engine Co 50%
manufacturing sales
Chongqing Xiyi automobile Auto parts manufacturing and
40%
connecting rod Co. Ltd. sales
Chongqing Changan Kuayue
Automobile manufacture sales 34.3%
vehicle Co. Ltd.
Beijing Fangan car rental limited
Regional passenger taxi 42.25%
liability company
Chongqing Ante import and export Auto parts import & export and
10%
trade Co., Ltd. wholesale business
Sales of glass production and
Sichuan glass Limited Ltd 0.64%
processing
Zhong Falian Investment Company Automotive air conditioning, oil
10%
Limited and oil filter and air filter assembly
automobile technology
(Beijing) Technology Research
development, technology transfer,
Institute of lightweight Automobile 6.89%
technical advice, technical
Co. Ltd.
services, technical detection
（2）A financial enterprise equity situation
At the
beginnin
Initial The final The
Intinial g of the The final Reporting
Company Type of share number final Accounti Source of
investment period book value period income
name Company precent of shares owners ng subjec stock
cost (yuan) number (yuan) (yuan)
age (shares)） hip
of shares
(shares)
Southwest Securities 50,000,000 17,750,000 0.76% 17,750,000 0.76% 136,142,500 1,775,000.00 Available Initial
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Chongqing Changan Automobile Company Limited Semi-annual Report 2013
Securities Company for sale investmen
financial t
assets
2The
2011
Available merger
Hua xia commerci for sale of
8,149,714 7,276,000 0.11% 7,276,000 0.11% 65,629,520
bank al bank financial Changa
assets n bus
investm
ent
China
Long
South
term Initial
Industries
Others 80,000,000 5.33% 5.33% 80,000,000 23,413,203.42 equity investmen
Group
investme t
financial
nt
company
total 138,149,714 -- -- 281,772,020 25,188,203.42 -- --
Note: Profit and loss in the reporting period is due to last year’s dividend received from financial companies.
Explanations to holdings of other public companies.
□ Applicable √ Non-Applicable
2、Entrusted financial investment, derivatives and entrusted loans
In order to avoid the risk of exchange rate changes, The company’s subsidiary Chongqing Changan
International Automobile Sales Service Co., ltd. started forward settlement of foreign exchange business
during the reporting period; the cumulative signed forward foreign exchange contract accounted for about
$78milllion. The first half of the year has delivered $24million, the rest $54million in the second half of delivery.
Company’s 10th session of the 6th board of directors meeting evaluated and passed the "On the initiation
of forward settlement of foreign exchange by the Company and its subsidiaries”, which approved that in 2013
the Company’s subsidiary Chongqing Changan International Automobile Sales Service Co., Ltd. started
forward settlement of foreign exchange of no more than RMB 500million yuan, with a term of 1 year, and that
the Company headquarters started forward settlement of foreign exchange of no more than RMB 500million
yuan, with a term of 1 year. By the end of the reporting period, the company’s derivatives investment had
been in accordance with the resolution.
3、Raised funds usage
（1）Overall usage of raised funds
Unit: ten thousand Yuan
raised funds total 344,558.69
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Chongqing Changan Automobile Company Limited Semi-annual Report 2013
total invested raised funds during the report period 3,572.63
accumulative invested raised funds total 348,188.82
raised funds that changed usage during the report
0
period
The total cumulative change in the use of
0
funds
The proportion of the cumulative change in
0%
the use of funds in the total amount
Explanation to the total usage of the raised funds
During report period, the company has used up its raised funds from this round of increased public issuance
of shares. The board of directors of the company that the company has timely, truly, accurately and integrally
disclosed the storage and usage of raised funds according to the “Instructions on standard operations of
companies listed on main board of SZSE” and relevant formats, free of violation of raised funds
management.
（2）The committed projects of raised capital
Unit: ten thousand Yuan
committed If Investment
Total of Amount Accumulated Date when
investment investment (Total progress at if there is
proceeds to invested investment the project Gains in if Gains
projects and project investment end of major
be invested in this at the end of become the report were as
direction of the changed after report change in
as report report term useable as term expected
over-target (including adjustment) term(%)(3) feasibility
proposed term (2) proposed
raised funds partially) ＝(2)/(1)
Project set by the prospectus
Expanding
Project of
no 164,319 164,319 1,164.36 165,715.30 100% 2012.01.31 13,517.66 No(note2) NO
Automobile
Production line
Small
displacement
Yes(note
engine industry no 197,911 197,911 2,408.27 182,473.52 100% 2012.06.30 17,121.80 NO
3)
upgrading
Project
committed
project
-- 362,230 362,230 3,572.63 348,188.82 -- -- 30,639.46 -- --
investment
subtotal
Investment project over-target raised funds
Total -- 362,230 362,230 3,572.63 348,188.82 -- -- 30,639.46 -- --
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Chongqing Changan Automobile Company Limited Semi-annual Report 2013
Note 2: in the intention abstract on issuance of additional A shares, the company stated that after the SOP of the
production line capacity expansion project of the annual production capacity in total can be 220000 mini buses,
Reason or annual sales income of 11.31422 billion yuan and total profit of 339760000 yuan can be realized. From Jan. to Jun.
situation of 2013, the company’s raised project automobile production lines has produced and sold 39,858 Taurustars and 58,302
failing to reach Honors, and sales revenue of 3.6997385billion yuan and total profit of 135. 1766million yuan has been achieved.
planned Note 3: in the intention abstract on issuance of additional A shares, the company stated that after the SOP of small
progress or displacement engine upgrading project, newly increased annual production capacity of CC series engine would be
return 120000 units, newly increased annual production capacity of CB series engine would be 300000 units, and annual
sales income of 4034760000 yuan and total profit of 262080000 yuan can be realized. From Jan. to Jun. 2013, the
company’s raised project engine production line has produced and sold 186,786 engines, and sales revenue of
1.896724 million yuan and total profit of 171.218 million yuan has been achieved.
Statement on
major change in Not applicable
feasibility
Amount, usage
and progress of
Not applicable
over-target
raised funds
Change of
location of Not applicable
invested project
Adjustment on
implementation
Not applicable
of project
invested
applicable
Pre-investment
As of Jan. 31, 2011, the Company invested RMB608.7494 million yuan in projects with its own financed funds,
and
whose verification report has been issued by E&Y as (2011) No.60662431 document. On Feb.28, 2011, it has been
replacement by
approved by the 18th session of the 5th BOD meeting that the Company replace the re-invested funds with the raised
proceeds
RMB608.7494 million yuan. The aforesaid funds have been replaced in March 2011.
Idle proceed
used as working Not applicable
capital
Idle proceed
used as working Not applicable
capital
Application
plan of retained
Used up
fund from
financing
Problem or No
14
Chongqing Changan Automobile Company Limited Semi-annual Report 2013
situation in
using of
proceeds and
disclosing
Note 1: the net amount of the company’s actual finance raised is 3445586919.48 yuan, lower than the total planned investment
amount stated in the intention abstract for the fund-raising projects. According to intention abstract, the rest funds will be resolved by
the Company.
（3）Raised fund projects
explanation to the raise funds project The date of disclosure Disclosure index
The 2010 annual public offering prospectus Announcement
Jan.07th, 2011
summary No.2011-11
4、Analysis of main subsidiaries, joint stock company
In Yuan
registered
Type Main Business Business
Name Industry capital Total assets net assets net profit
company products income profit
assets
Productio
n and
Manufact sales of
JV $240.47mill 26,295,975, 5,389,470,8 34,963,859, 3,610,943,6 3,168,198,8
CFA uring automotiv
Company ion 559.00 24.00 840.09 82.48 30.05
industries e
compone
nts
Productio
n and
Manufact sales of
JMC RMB2billio 6,406,379,2 3,748,752,0 1,014,610,8 311,292,472 315,363,606
Company uring automotiv
Holdings n 21.39 08.65 54.01 .73 .76
industr e
compone
nts
During the report period, the company’s joint venture, Changan Ford, has greatly increased its production
and sales, especially the launch of the new model Kuga which has gained market recognition and become
new profit contributor. In the first 6 months of 2013, Changan Ford achieved a net profit of 3.168 Billion yuan,
a year-on-year growth of 189.83%; JMC Holdings holds 41.03% stake in JMC Automobile; relying on return of
investment in JMC Auto, it also obtained good results. In the first 6 months of 2013, JMC Holdings achieved a
net profit of 315 million yuan, a year-on-year growth of 20.17%.
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Chongqing Changan Automobile Company Limited Semi-annual Report 2013
5、Major projects invested by non-financing capital
Unit: ten thousand yuan
By the end of the
This report
reporting period
Total planned period Progress of
Project Name the accumulated Project income
investment investment the project
actual investment
amount
amount
expected to officially
DianjinagAuto proving
131,492 17,125.62 86,003.22 100% start business in
ground project
Sep.
The reporting period
has sold 14030
Beijing sedan project phase
191,943 16,603.61 160,654.17 100% vehicles, sales
I
income of 822
million yuan
total 323,435 33,729.23 246,657.39 -- --
六、Prediction of business performance for Jan-Sept 2013
Alert of loss or significant change in net profit from the beginning of year to the end of next report period or comparing with the
same period of last year, and statement of causations.
□ Applicable √ Not applicable
七、Statement of the Board on the “non-standard auditors’ report” issued by the CPA on the
current report period
Not applicable
八、Statement of the Board on the variation and treatment of events that involved in the
“non-standard auditors’ report” issued by the CPA on previous fiscal year
Not applicable
九、The implementation of profit distribution during the reporting period
By May 21, 2013 the Company held the 2012 annual meeting of shareholders. The 2012 annual interest
distribution scheme is: The company's existing total share capital of 4662886108 shares as the base, to all
shareholders 10 per share cash delivery 0.50 yuan (including tax). The equity allocation of A equity
registration date is June 20, 2013, Ex dividend date is June 21, 2013, B share the last trading day of June 20,
2013, ex dividend date for June 21, 2013. The equity registration date for June 25, 2013.The profit distribution
plan has been completed, a total of 232784471.61 yuan to distribute cash dividends.
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Chongqing Changan Automobile Company Limited Semi-annual Report 2013
十、Registration form for the reception research, communication, interviews and other activities
during the reporting period
Content discussed and material
Date position manner type Reception object
offered
Meeting
Automotive Industry
Room, On-Site Structur
2013.01.16 Macquarie Securities Development and Company’s
Changan Survey e
Business
Headquarters
Meeting GF Fund、Changjiang Securities、Orient
Automotive Industry
Room, On-Site Structur Securities、Venus Investment、SMC
2013.01,.23 Development and Company’s
Changan Survey e China Fund、Franklin Templeton
Business
Headquarters Sealand Fund、Yingda Asset
Meeting
Automotive Industry
Room, On-Site Structur
2013.01.24 Citic-Prudential Fund Development and Company’s
Changan Survey e
Business
Headquarters
Galaxy Asset Management、China Life、
Standard Pacific Capital、Marco Polo
Pure Asset Management、Huashang
Fund、Winnington Capital Limited、
Morgan Stanley Huaxin Funds、
Changxin Asset Management、Taikang
Meeting
Asset Management、Huatai Asset Automotive Industry
Room, On-Site Structur
Management、HSBC Global Asset Development and Company’s
2013.01.30 Changan Survey e
Management、Keywise Capital、China Business
Headquarters
Merchants Fund、CITIC Securities、
CITIC Securities International、
Advisory Company for SAIF Funds、
China Southern Asset Management、
Tianhong Asset Management、
Greewoods Asset Management
Harvest Fund、Tianhong Asset
Management、Changxin Asset
Management、Pingan Asset
Meeting Management、Orient Fund、CCB
Automotive Industry
Room, On-Site Structur Principal Asset Management、Franklin
2013.01.31 Development and Company’s
Changan Survey e Templeton Sealand Fund、Huatai
Business
Headquarters Securities、China Merchants Fund、
China International Fund Management、
China Asset Management、Soochow
Asset Management、New China Trust、
17
Chongqing Changan Automobile Company Limited Semi-annual Report 2013
Nanjing Securities、GF Fund
Management、Haitong Securities
Meeting
Automotive Industry
Room, On-Site Structur
2013.02.04 China Asset Management、J.P.Morgan Development and Company’s
Changan Survey e
Business
Headquarters
Meeting
Automotive Industry
Room, On-Site Structur
Golden Nest Capital Development and Company’s
2013.02.04 Changan Survey e
Business
Headquarters
Meeting
Automotive Industry
Room, On-Site Structur China Merchants Securities、China
Development and Company’s
2013.02.06 Changan Survey e Great Wall Securities
Business
Headquarters
Meeting
Automotive Industry
Room, On-Site Structur
2013.02.20 Overlook Investment Development and Company’s
Changan Survey e
Business
Headquarters
Meeting
Automotive Industry
Room, On-Site Structur
2013.02.21 Chang Jiang Securities Development and Company’s
Changan Survey e
Business
Headquarters
Meeting
Automotive Industry
Room, On-Site Structur
UBS Securities、Zexi Investment Development and Company’s
2013.02.27 Changan Survey e
Business
Headquarters
Meeting Automotive Industry
Structur Minsheng securities、First Capital
Room, On-Site Development and Company’s
2013.03.07 e Securities、Golden Eagle Fund
Changan Survey Business
Headquarters
Meeting Automotive Industry
On-Site Structur
Room, Bosera Funds Development and Company’s
2013.03.07 Survey e
Changan Business
Headquarters
Automotive Industry
Meeting On-Site Structur
Invesco HK Limited Development and Company’s
2013.03.12 Room, Survey e
Business
Changan
18
Chongqing Changan Automobile Company Limited Semi-annual Report 2013
Headquarters
Meeting Automotive Industry
On-Site Structur
Room, First Capital Securities Development and Company’s
2013.03.13 Survey e
Changan Business
Headquarters
Guoyuan Consulting Service、First
Meeting Beijing Co.、South China Growth Fund、Automotive Industry
On-Site Structur
Room, Guangzhou Increment Investment Development and Company’s
2013.05.07 Survey e
Changan Management Limited.、Kambridge Business
Headquarters Asset Management Limited
Meeting
Automotive Industry
Room, On-Site Structur
2013.05.08 Autonomy Capital、UBS Development and Company’s
Changan Survey e
Business
Headquarters
Meeting Automotive Industry
On-Site Structur
Room, Keywise Capital Management Development and Company’s
2013.05.08 Survey e
Changan Business
Headquarters
Meeting Automotive Industry
On-Site Structur
Room, Guangfa Securities、BOCOM Schroders Development and Company’s
2013.05.15 Survey e
Changan Business
Headquarters
Automotive Industry
Chongqing On-Site Structur
Institutional investors Development and Company’s
2013.05.21 Changdu Survey e
Business
Holiday Inn
Meeting Automotive Industry
On-Site Structur Daiwa Capital Markets、Zeal Asset、
Room, Development and Company’s
2013.05.23 Survey e OWL Creek
Changan Business
Headquarters
Meeting Automotive Industry
On-Site Structur Sealand Securities、Manulife Teda Fund
Room, Development and Company’s
2013.05.30 Survey e Management
Changan Business
Headquarters
19
Chongqing Changan Automobile Company Limited Semi-annual Report 2013
Meeting Automotive Industry
On-Site Structur
Room, Deutsche Bank Development and Company’s
2013.06.05 Survey e
Changan Business
Headquarters
Meeting
Automotive Industry
Room, On-Site Structur
2013.06.20 China Life Development and Company’s
Changan Survey e
Business
Headquarters
Meeting
Automotive Industry
Room, On-Site Structur
2013.06.21 Deutsche Bank Development and Company’s
Changan Survey e
Business
Headquarters
Meeting
Automotive Industry
Room, On-Site Structur
2013.06.25 Citic-Prudential Fund Development and Company’s
Changan Survey e
Business
Headquarters
Meeting
Automotive Industry
Room, On-Site Structur China Life、BOC International (China)
2013.06.28 Development and Company’s
Changan Survey e Limited
Business
Headquarters
20
Chongqing Changan Automobile Company Limited Semi-annual Report 2013
V. Significant Events
一、Governance status
The company strictly complies with laws and rules, such as “Company Law”,”Security Law” and
“Management Standard of Listed Company”, and with standard operation of standard documents of
listed company administration. During the report period, the company issued “Self Evaluation
Report of 2012 Internal Control”, and Ernst&Yong Huaming Accounting Firm issued standard audit
report of internal control. To further standalize the company operation, improve work efficiency
and make management standard, correct and procedural, the directors of board made “Regulation
of Hierarchical Authorization of Non-daily Business” according to the company’s actual situation,
revise and complete “Management System of Relevant Transaction” and “Company Constitution”, and
constantly improve the company management.
二、Major litigation and arbitration matters
□ applicable √ not applicable
During the report period, the company has no major litigation and arbitration matters.
三、Questioned situation by media
□ applicable √not applicable
During the report period the company has no widespread questioned situation by media.
四、Related matters of bankruptcy and restructure
Not applicable
五、Assets transaction matters
During the report period, the company has no major asset matter such as acquisition and sales, and enterprise engagement.
六、Implementation and influence of the company equity incentive.
No.
七、Major relevant transaction.
1、Related party transaction related with daily operation.
Details refer to financial report。
21
Chongqing Changan Automobile Company Limited Semi-annual Report 2013
2、Related party transaction at asset acquisition and sales.
No.
3、Important related party transaction of jointly overseas investment.
No.
4、Related creditor’s right and debt contact.
Is there any non-operating related creditor’s right and debt contact.
□ Yes √ No
5、Other major related transaction.
Related Transaction Annoucement of the South Group Tide Information Network
Apr. 2 of 2013
providing financial service for the company http://www.cninfo.com.cn
Related party transaction Announcement with Hafei Tide Information Network
Apr. 2 of 2013
Automobile Co., Ltd. http://www.cninfo.com.cn
Related party transaction announcement of the South Group’s Tide Information Network
Apr. 2 of 2013
Finance providing financial service http://www.cninfo.com.cn
Related Party Transaction Announcement of Utilizing Tide Information Network
Zhonghui Futong Company for trade finance. Apr. 17 of 2013 http://www.cninfo.com.cn
Tide Information Network
Expected announcement of 2013 daily related transaction Apr. 17 of 2013
http://www.cninfo.com.cn
Related Transaction Annoucement of the South Group Tide Information Network
Apr. 2 of 2013
providing financial service for the company http://www.cninfo.com.cn
八、Important contract and implementation.
1、Matters regarding hosting, contracting and leasing.
（1）Hosting
Projects whose profit and loss brought to the company accounte for 10% of the total profits during the company report period.
□ Yes √ No
（2）Contracting
Projects whose profit and loss brought to the company accounte for 10% of the total profits during the company report period.
□ Yes √ No
22
Chongqing Changan Automobile Company Limited Semi-annual Report 2013
（3）Leasing
Projects whose profit and loss brought to the company accounte for 10% of the total profits during the company report period.
□ Yes √ No
2、Guarantee
During the report period, the company has no gurarantee.
3、Other important contract.
No
4、Other important transaction.
No
九、Commitments of the company or shareholders holding more than 5% shares during the
report period or during former period but continuing to this report period.
period for
Commitme
commitments commitor Commitment content commitme Performance
nt time
nt
By the end of report
1. Abide by the provisions of laws,
period, China
regulations and rules, implement
Changan,
legal commitments and duties. 2.
limited-conditions
The original non-tradable shares
sale shareholder,
since the date obtaining the public
holds 2094817480
right do not trade or transfer at
shares of the
least within 24 months; when
company shares,
expired after 24 months,
among which
non-tradable shareholders through
1721459138 shares
China stock exchange sell shares, the
Share reform commitments are unlimited sale
Changan sold quantity proportion of the
condition shares,
total number of the company is no
the remaining
more than 5% within 12 months,
373358342 shares
no more than 10% within 24
are limited sale
months. 3. After the completion of
shares. According to
share reform, the company will
the share reform
implement management equity
promise, sales
incentive plan according to the
restriction will be
national related management
cancelled after the
system and method.
management equity
23
Chongqing Changan Automobile Company Limited Semi-annual Report 2013
incentive plan is
implemented.
To avoid and eventually solve
possible competition or potential
competition, and to better maintain
company interests of investment,
China Changan, the company
controlling shareholder
commitments:⒈Jiangxi Changhe Commitments:
Automobile Co., Ltd. and Harbin 1.not reach
Hafei Automobile Industry Group implement
Other commitments on minority
China Co., LTD. earning for the next year condition;
shareholders of the company
Changan in a row, and have sustainable Commitments:
development ability and 2Being fulfilled
management level improved (note).
significantly, proposed to make the
two companies into the company;
2. When Changan Peugeot Citroen
Automobile co., LTD. built and
put into production, it’s proposed
to transfer JV shares to the
company.
Note: the 7th session of the 6th board of directors meeting examined and approved the bill of acquisition of 50% stake of Changan
Peugeot Citroen Automobile Co., LTD held by China Changan Automobile Group Co., Ltd. The company plans to raise funds to
purchase CAPSA 50% stake holding by China Changan, and was passed by 2012 the fourth temporary shareholders' meeting. On
December 26, 2012, the company and its parent company China Changan signed an agreement that to purchase 50% stake of Peugeot
Citroen Automobile Co., LTD.holding by China Changan for RMB 2007424600.00 yuan in total. By December 31 of 2012, the
company has prepaid the equity investment fund of RMB 703015710.00. At present, the follow-up work is undergoing, the
acquisition is expected to be completed within this year.
十、Cases of employing and dismissing accounting firm
If the semi-annual financial report has been audited.
□ Yes √ No
十一、Punishment and rectification case
Statement of rectification
□ applicable √ not applicable
十二、Statement of other important matters
No。
24
Chongqing Changan Automobile Company Limited Semi-annual Report 2013
VI Stake Change and shareholders Information
一、Stake changes
before this change increase or decrease of this change after this change
issue
Proportio issue new Amou Proportion( issue new
Amount new Amount Proportion(%)
n(%) shares nt %) shares
shares
一、
Shares of limited sale 373,375,587 8.01% 373,375,587 8.01%
condition
1、
Shareholdings of
373,358,342 8.01% 373,358,342 8.01%
state-owned legal
personnel
2、
Shares of senior 17,245 0% 17,245 0%
managers
二、
Shares of infinite sale 4,289,510,521 91.99% 4,289,510,521 91.99%
condition
1、
3,387,524,379 72.65% 3,387,524,379 72.65%
RMB common stake
2、
Foreign shares listed 901,986,142 19.34% 901,986,142 19.34%
abroad
三、
4,662,886,108 100% 4,662,886,108 100%
Total shares
Reason of stake change
□ applicable √ not applicable
Approval of stake change
□ applicable √ not applicable
Ownership transfer of stake change
□ applicable √ not applicable
25
Chongqing Changan Automobile Company Limited Semi-annual Report 2013
The influence of share change on financial indicators, such as the latest year and the latest basic earnings per share and diluted
earnings per share, the net assets per share belonging to the common shareholder of the company
□ applicable √ not applicable
Other contents which the company thinks it’s necessary and securities supervison institution requires to publish.
□ applicable √ not applicable
Statement of change of total shares and shareholder structure, corporate assets and liabilities structure
□ applicable √ not applicable
二、Amount of shareholders and shareholdings
Unit: stock
Total amount of shareholders at the The total amount of shareholders is 138,730, and A shareholder is 118,519, B shareholder
end of report period is 20,211.
Shareholders’ holdings whose shares are over 5%.
Shareholding changes Pledge or freezing
Share amount Share amount
Nature of amount at the during the situation
Shareholder Name stake（%） of limited sale of infinite
shareholders end of report report
condition share condition share status amount
period period
China Changan
state owned no pledge or
Automobile Group 44.93% 2,094,817,480 0 373,358,342 1,721,459,138 0
legal person freeze
Co., Ltd.
Zhonghui Fortis foreign legal no pledge or
1.78% 82,849,911 0 82,849,911 0
Investment Co., Ltd. person shares freeze
VALUE PARTNERS foreign legal no pledge or
1.49% 69,568,142 69,568,142 0
CLASSIC FUND person shares freeze
BIAL/HSBC
GLOBAL
foreign legal no pledge or
INVESTMENT 0.86% 39,928,228 39,928,228 0
person shares freeze
FUNDS CHINESE
EQUITY
HTHK-MANULIFE
foreign legal no pledge or
CHINA VALUE 0.81% 37,963,732 37,963,732 0
person shares freeze
FUND
INVESCO FUNDS foreign legal no pledge or
0.81% 37,574,086 37,574,086 0
SERIES 5 person shares freeze
Agricultural Bank of domestic 0.79% 36,686,347 36,686,347 no pledge or 0
26
Chongqing Changan Automobile Company Limited Semi-annual Report 2013
China—Bank of non-state freeze
Communications legal person
Schroeder growth share
stock securites
investment fund
China Life Insurance
domestic
Co., Ltd.－share out
non-state no pledge or
bonus－personal 0.69% 32,295,435 32,295,435 0
legal person freeze
bonus-005L-FH002
share
depth
domestic
Boshi value growth
non-state no pledge or
securites investment 0.68% 31,768,558 31,768,558 0
legal person freeze
fund
share
(LOF)Industry and
Commercial Bank of
domestic
China－securities
non-state no pledge or
investment fund of 0.65% 30,462,933 30,462,933 0
legal person freeze
Penghua fine
share
governance
stock(LOF)
Top 10 Shareholder Information of Infinite Sale Condition
Share amount of infinite sale stock class
Shareholder Name
condition at the end of report period stock class amount
RMB Common
China Changan Automobile Group Co., Ltd. 1,721,459,138 1,721,459,138
Stock
domestic foreign
Zhonghui Fortis Investment Co., Ltd. 82,849,911 82,849,911
share
domestic foreign
VALUE PARTNERS CLASSIC FUND 69,568,142 69,568,142
share
BIAL/HSBC GLOBAL INVESTMENT FUNDS domestic foreign
39,928,228 39,928,228
CHINESE EQUITY share
domestic foreign
HTHK-MANULIFE CHINA VALUE FUND 37,963,732 37,963,732
share
domestic foreign
INVESCO FUNDS SERIES 5 37,574,086 37,574,086
share
Agricultural Bank of China—Bank of Communications RMB Common
36,686,347 36,686,347
Schroeder growth stock securites investment fund Stock
China Life Insurance Co., Ltd.－share out bonus－ RMB Common
32,295,435 32,295,435
personal bonus-005L-FH002 depth Stock
27
Chongqing Changan Automobile Company Limited Semi-annual Report 2013
RMB Common
Boshi value growth securites investment fund 31,768,558 31,768,558
Stock
(LOF)Industry and Commercial Bank of China－
RMB Common
securities investment fund of Penghua fine governance 30,462,933 30,462,933
Stock
stock(LOF)
Among the top 10 shareholders, China Changan Automobile Group Co.,
Correlation or concerted action among top 10 infinite Ltd., the controlling shareholder, and its wholly owned subsidiary
sale tradable share holders, and between top 10 infinite Zhonghui Futong Investment Co., Ltd. belong to the concerted actor
sale tradable share holders and top 10 shareholders. regulated by “Disclosure Administration of Shares Change Information of
The Listed Company”.
If any repurchase transaction appointment of shareholders during the report period
□ Yes √ No
三、Changes of controlling shareholders or actual controller.
Changes of controlling shareholders during the report period
□ applicable √not applicable
Changes of actual controllers during the report period
□ applicable √not applicable
28
Chongqing Changan Automobile Company Limited Semi-annual Report 2013
VII Directors, Supervisors and Senior Managers Information
一、Share ownership of directors, supervisors and senior managers
□ applicable √not applicable
The share ownership of the directors, supervisors and senior managers have no change during the report period, details refer to 2012
annual report.
二、Departure and firing information of the directors, supervisors and senior managers
Name Position Type Date Reason
Chen Worker
Apr.11 of 2013 Job change
Lingtao supervisor Departure
Fan Worker
Employment Selected by workers’ congress
Chaodong supervisor Apr.12 of 2013
Yuan
Supervisor Departure Apr.11 of 2013 Job change
Mingxue
Xie Shikang Supervisor Employment May 21 of 2013 Selected by shareholders’ congress
29
Chongqing Changan Automobile Company Limited Semi-annual Report 2013
VIII Audited Financial Statements
一、 Auditing Report
Semi-annual report is audited
□Yes √ No
Without the semi-annual financial report audit.
二、Financial statement
Financial in notes to the statements of the unit is: RMB yuan
1、Consolidated Balance Sheet
Account Ending Balance Opening Balance
Current assets:
Cash 6,898,632,150.35 4,199,763,915.82
Deposit Reservation for Balance
Funds loaned to other financial institutions
Financial assets held for trading 0.00 332,407.00
Notes receivable 9,024,614,128.43 9,364,340,972.00
Accounts receivable 757,362,164.21 438,384,320.58
Prepayments 429,819,984.92 499,042,641.69
Premiums receivable
Reinsurance receivable
Reinsurance reserve receivable
Interest receivable 0
Dividend receivable 0.00 450,030.00
Other receivables 242,348,378.13 133,863,189.40
Reverse repurchase agreements
Inventories 5,882,713,706.01 4,911,029,980.66
Non-current assets within one year Other current assets 0.00
Other non-current assets 31,550.73 4,774,719.12
Total current assets 23,235,522,062.78 19,551,982,176.27
Non-current assets:
30
Chongqing Changan Automobile Company Limited Semi-annual Report 2013
Entrustment loans and advances
Available-for-sale financial assets 201,772,020.00 233,814,100.00
Held-to-maturity investments 0
Long-term receivables 0
Long-term equity investments 7,758,137,038.56 7,594,311,455.02
Investment properties 1,043,916.47 1,081,565.51
Fixed assets 11,700,220,714.15 11,627,068,108.78
Construction in progress 2,927,655,931.21 2,805,328,886.06
Construction materials 795,898.75 795,898.75
Liquidation of fixed assets 5,125,667.23 2,485,714.76
Productive biological assets
Oil and gas asset
Intangible assets 2,069,177,738.88 2,133,154,677.81
Development expenditure 431,901,094.69 373,059,730.66
Goodwill 9,804,394.00 9,804,394.00
Long-term deferred expenses 22,578,686.06 2,055,164.45
Deferred tax assets 880,904,264.13 859,267,186.20
Other non-current assets 937282785.6 923395734
Total non-current assets 26,946,400,149.75 26,565,622,616.00
TOTAL ASSETS 50,181,922,212.53 46,117,604,792.27
Current liabilities:
Short-term loans 250,000,000.00 1,250,000,000.00
Due to The People’s Bank of China
Placements of deposits from other financial institutions
Funds borrowed from other financial institutions
Financial liabilities held for trading 0
Notes payable 11,297,443,494.30 7,808,998,092.99
Accounts payable 7,690,482,181.03 7,201,763,448.59
Advances from customers 4,115,927,223.43 4,251,355,201.70
Repurchase agreements
Commission payable
Payroll payable 458,122,000.76 427,915,773.96
Taxes payable 24,180,075.67 49,882,326.93
Interest payables 22,613,958.34 77,316,091.67
31
Chongqing Changan Automobile Company Limited Semi-annual Report 2013
Dividend payables 79,742.80 79,742.80
Other payables 1,367,888,042.10 1,918,249,420.49
Reinsurance payable
Reinsurance reserve payable
Commission of security trading
Commission of underwriting
Non-current liabilities within one year 0 18,000,000
Other current liabilities 2,089,726,649.37 1,518,516,938.67
Total current liabilities 27,316,463,367.80 24,522,077,037.80
Non-current liabilities:
Long-term loans 960,000,000 992,000,000
Bonds payable 1,963,348,839.97 1963348840
Long-term payables
Special payables 215,168,260.88 131,053,523.96
Provisions 860,045,532.31 676,261,668.40
Deferred tax liabilities 33,403,665.51 37,741,632.06
Other non-current liabilities 2,375,695,247.04 2,404,194,366.91
Total non-current liabilities 6,407,661,545.71 6,204,600,031.30
Total liabilities 33,724,124,913.51 30,726,677,069.10
Owners’ equity (or Shareholders’ equity):
Paid up capital (or Share capital) 4,662,886,108.00 4,662,886,108.00
Capital reserves 3,069,925,110.43 3,088,935,360.43
Less: Treasury shares 0
Special reserves
Surplus reserves 1,441,483,901.26 1,441,483,901.26
General reserve
Retained earnings 7,437,940,717.77 6,335,790,529.86
Foreign currency reserve -19439924.79 -16,160,551.29
Equity attributable to owners 16,592,795,912.67 15,512,935,348.26
Minority interests -134,998,613.65 -122,007,625.09
Total Owners’ equity (or Shareholders’ equity) 16,457,797,299.02 15,390,927,723.17
TOTAL LIABILITIES AND OWNERS’ EQUITY( OR
SHAREHOLDERS’ EQUITY) 50,181,922,212.53 46,117,604,792.27
32
Chongqing Changan Automobile Company Limited Semi-annual Report 2013
2、Balance Statement
Account Ending Balance Opening Balance
Current assets:
Cash 5,361,948,813.84 3,081,165,146.84
Financial assets held for trading 0.00 0.00
Notes receivable 7,648,010,669.93 7,803,725,888.00
Accounts receivable 1,141,882,388.19 1,071,345,619.44
Prepayments 438,335,565.99 397,342,870.76
Interest receivable 0.00
Dividend receivable 0.00 450,030.00
Other receivables 350,527,140.54 315,576,507.71
Inventories 4,179,773,129.39 3,396,111,119.31
Non-current assets within one year 0.00
Other current assets 31,550.73
Total current assets 19,120,509,258.61 16,065,717,182.06
Non-current assets:
Available-for-sale financial assets 136,142,500.00 158,507,500.00
Held-to-maturity investments
Long-term receivables
Long-term equity investments 9,052,910,451.29 8,885,998,867.75
Investment properties
Fixed assets 10,370,162,209.85 10,191,569,154.86
Construction in progress 2,653,767,484.51 2,571,337,326.77
Construction materials 795,898.75 795,898.75
Liquidation of fixed assets 2,485,714.76
Productive biological assets
Oil and gas asset
Intangible assets 1,888,755,844.23 1,964,748,143.27
Development expenditure 399,604,793.30 354,257,952.32
Goodwill
Long-term deferred expenses 630,280.00 720,320.00
Deferred tax assets 761,269,506.42 740,904,515.31
Other non-current assets 937,282,785.62 923,395,734.00
33
Chongqing Changan Automobile Company Limited Semi-annual Report 2013
Total non-current assets 26,201,321,753.97 25,794,721,127.79
TOTAL ASSETS 45,321,831,012.58 41,860,438,309.85
Current liabilities:
Short-term loans 200,000,000.00 1,170,000,000.00
Financial liabilities held for trading
Notes payable 8,737,527,714.27 6,066,445,485.27
Accounts payable 5,616,121,702.06 5,183,680,120.24
Advances from customers 3,623,868,651.88 3,466,741,620.70
Payroll payable 412,739,676.20 374,013,646.52
Taxes payable 292,744,425.01 290,496,103.52
Interest payable 22,568,208.33 77,316,091.67
Dividend payable
Other payables 1,051,583,959.67 1,607,748,312.43
Non-current liabilities within one year
Other current liabilities 1,481,195,329.52 1,068,916,123.41
Total current liabilities 21,438,349,666.94 19,305,357,503.76
Non-current liabilities:
Long-term loans 850,000,000.00 900,000,000.00
Bonds payable 1,963,348,839.97 1,963,348,839.97
Long-term payables
Special payables 149,057,451.24 69,225,925.06
Provisions 548,242,195.90 332,489,210.32
Deferred tax liabilities 16,989,375.00 20,344,125.00
Other non-current liabilities 2,283,230,282.37 2,308,856,151.75
Total non-current liabilities 5,810,868,144.48 5,594,264,252.10
Total liabilities 27,249,217,811.42 24,899,621,755.86
Owners’ equity (or Shareholders’ equity):
Paid up capital (or Share capital) 4,662,886,108.00 4,662,886,108.00
Capital reserves 3,332,625,517.88 3,351,635,767.88
Less: Treasury shares
Special reserves
Surplus reserves 1,441,483,901.26 1,441,483,901.26
General reserve
Retained earnings 8,635,617,674.02 7,504,810,776.85
34
Chongqing Changan Automobile Company Limited Semi-annual Report 2013
Foreign currency reserve
Equity attributable to owners 18,072,613,201.16 16,960,816,553.99
TOTAL LIABILITIES AND OWNERS ’ EQUITY( OR
45,321,831,012.58 41,860,438,309.85
SHAREHOLDERS’ EQUITY)
3、Consolidated Income Statement
Account Current Period Prior Period
I. Total operating revenue 19,750,954,680.97 14,044,230,553.84
Including: operating revenue 19,750,954,680.97 14,044,230,553.84
Interest income
Earned premium
Fee and commission income
II. Total operating cost 20,247,901,310.51 14,389,673,635.83
Including: Operating cost 16,492,076,497.13 11,823,250,311.18
Interest expenses
Fee and commission expenses
Surrender value
Compensation expenses
Net insurance contract reserve
Policy dividend expenses
Reinsurance expenses
Business tax and surcharges 637,198,884.11 337,172,173.45
Operating expenses 1,668,109,237.88 1,296,244,787.45
General and administrative expenses 1,273,522,351.31 950,910,384.65
Financial expenses 53,562,835.08 -8,913,423.40
Impairment loss on assets 123,431,505.00 -8,990,597.50
Add: Profit and loss from fair value changes (‘-‘ represent
loss) -332,407.00 -1525799.63
Investment income (‘-‘ represent loss) 1,804,771,615.58 732,741,472.73
Including: Investment income from associates and
from joint venture 1,774,141,795.34 730,922,472.73
Net foreign exchange differences(‘-’ means loss)
III. Operating profit (‘-’ represent loss) 1,307,492,579.04 385,772,591.11
Add: Non-operating income 57,605,737.13 126,141,497.58
35
Chongqing Changan Automobile Company Limited Semi-annual Report 2013
Less: Non-operating expenses 18,049,869.77 4,007,997.45
Including: loss on disposal of non-current assets 4,134,080.37 1,795,479.91
IV. Total profit(‘-’ represent loss) 1,347,048,446.40 507,906,091.24
Less: Income tax expense 29,069,608.63 -42,861,009.89
V. Net profit (‘-’ represent net loss) 1,317,978,837.77 550,767,101.13
Including: The net profit of the combined parties before
business combination
Net profit attributable to owners 1,330,969,826.33 570,029,439.95
Minority interests -12,990,988.56 -19,262,338.82
VI. Earnings per share: -- --
I) Basic earnings per share 0.29 0.12
II) Diluted earnings per share 0.29 0.12
VII. Other comprehensive income -26,268,060.00 39,128,305.00
VIII. Total comprehensive income 1,291,710,777.77 589,895,406.13
Total comprehensive income attributable to owners 1,304,701,766.33 609,157,744.95
Total comprehensive income attributable to minority
interest -12,990,988.56 -19,262,338.82
4、Income Statement
Account Current Period Prior Perid
I. Operating revenue 16,016,066,794.52 10,195,146,626.54
Less: Operating cost 13,418,745,332.34 8,423,068,569.27
Business tax and surcharges 550,345,493.40 262,584,913.22
Operating expenses 1,280,089,219.07 905,421,113.11
General and administrative expenses 1,100,149,546.03 977,471,354.72
Financial expenses 46,842,389.71 -2,141,478.55
Impairment loss on assets 93,368,086.68 -8,990,597.50
Add: Profit and loss from fair value Changes (‘-’ represent
loss) 0 0
Investment income (‘-’ represent loss) 1,806,962,598.34 730,922,472.73
Including: Investment income from associates and
from joint venture 1,774,141,795.34 730,922,472.73
II. Operating profit (‘-’ represent loss) 1,333,489,325.63 368,655,225.00
Add: Non-operating income 44,978,210.23 113,574,947.98
Less: Non-operating expenses 16,189,004.04 1,439,255.86
36
Chongqing Changan Automobile Company Limited Semi-annual Report 2013
Including: loss on disposal of non-current assets 3,689,318.28 384,310.03
III. Total profit(‘-’ represent loss) 1,362,278,531.82 480,790,917.12
Less: Non-operating expenses 2,651,996.23 -54,420,394.11
IV. Net profit (‘-’ represent net loss) 1,359,626,535.59 535,211,311.23
V. Earnings per share: -- --
I) Basic earnings per share 0.29 0.12
II) Diluted earnings per share 0.29 0.12
VI. Other comprehensive income -19,010,250.00 48,732,625.00
VII. Total comprehensive income 1,340,616,285.59 583,943,936.23
5、Consolidated cash flow statement
Account Current Period Prior Perid
I. CASH FLOWS FROM OPERATING ACTIVITIES:
Cash received from sale of goods or rendering of services 19,616,481,189.85 12,206,885,218.22
Net increase in customer deposits and placements of deposits
from other financial institutions
Net increase in amounts due to the Central Bank
Net decrease in funds loaned to other financial institutions
Cash receipts from primary insurance contract
Net cash receipts from reinsurance agreement
Net increase in saving from incident and investment deposit
Net increase in disposal of financial assets held for trading
Cash receipts from interest and fee and commission income
Net increase in funds borrowed from other financial
institutions
Net increase in repurchase agreements
Refunds of taxes 14,563,156.81 31,847,565.16
Cash received relating to other operating activities 599,865,937.46 264,137,754.81
Sub-total of cash inflows 20,230,910,284.12 12,502,870,538.19
Cash paid for goods and services 11,584,201,053.46 8,323,289,867.18
Net increase in loans and advances
Net increase in amounts due from the Central Bank and
placements of deposits with other financial institutions
Cash payments for primary insurance contract
37
Chongqing Changan Automobile Company Limited Semi-annual Report 2013
Cash payments for interest and fee and commission expenses
Cash payments for policy dividend
Cash paid to and on behalf of employees 1,269,278,434.69 1,146,939,343.07
Cash paid for all types of taxes 1,478,420,685.06 715,659,964.73
Cash paid relating to other operating activities 2,244,624,685.61 1,641,524,979.15
Sub-total of cash outflows 16,576,524,858.82 11,827,414,154.13
Net cash flows from operating activities 3,654,385,425.30 675,456,384.06
II. CASH FLOWS FROM INVESTING ACTIVITIES:
Cash received from disposal of investments 8232153.38
Cash received from return on investments 1,629,273,160.50 1,819,000.00
Net cash received from disposal of fixed assets, intangible
assets and other long-term assets 980,639.33 676,086.03
Cash and cash equivalents of subsidiary receipts upon a
acquisition
Cash received relating to other investing activities 10,146,500.00 122,160,218.00
Sub-total of cash inflows 1,648,632,453.21 124,655,304.03
Cash paid for acquisition of fixed assets, intangible assets and
other long-term assets 1,176,801,399.38 2,737,816,643.55
Cash paid for acquisition of investments 3,086,000.00 9,000,000.00
Net increase in pledged loan
Cash paid for acquisition of subsidiary and other business
units
Cash paid relating to other investing activities 80,000.00 2,266,737.00
Sub-total of cash outflows 1,179,967,399.38 2,749,083,380.55
Net cash flows from investing activities 468,665,053.83 -2,624,428,076.52
III. CASH FLOWS FROM FINANCING ACTIVITIES:
Cash received from absorbing investment
Including: cash received from absorbing investment from
minority interest of subsidiary
Cash received from borrowings 30,000,000.00 714,521,483.81
Cash received from issuing bond 1960700000
Cash received relating to other financing activities 12,155,696.67 12,263,973.25
Sub-total of cash inflows 42,155,696.67 2,687,485,457.06
Cash repayments of borrowings 1,080,000,000.00 843,011,483.81
Cash paid for distribution of dividends or profits and interest 384,192,546.71 30,911,876.87
38
Chongqing Changan Automobile Company Limited Semi-annual Report 2013
expenses
Including: cash paid for dividends or profits and interest
expenses to minority interest of subsidiary
Cash paid relating to other financing activities 544,427.29 497,456,903.42
Sub-total of cash outflows 1,464,736,974.00 1,371,380,264.10
Net cash flows from financing activities -1,422,581,277.33 1,316,105,192.96
IV. EFFECT OF CHANGES IN EXCHANGE RATE ON
CASH -1,600,967.27 720,858.56
V. NET INCREASE IN CASH AND CASH
EQUIVALENTS 2,698,868,234.53 -632,145,640.94
Add: Opening balance of cash and cash equivalents 4,199,763,915.82 4,871,199,806.77
VI. CLOSING BALANCE OF CASH AND CASH
EQUIVLANT 6,898,632,150.35 4,239,054,165.83
6、Cash flow statement
Account Current Period Prior Perid
I. CASH FLOWS FROM OPERATING ACTIVITIES:
Cash received from sale of goods or rendering of services 15,669,552,193.06 9,173,972,007.12
Refunds of taxes 4883000
Cash received relating to other operating activities 551,249,711.23 245,237,375.66
Sub-total of cash inflows 16,225,684,904.29 9,419,209,382.78
Cash paid for goods and services 8,940,426,860.25 6,193,024,218.07
Cash paid to and on behalf of employees 966,095,140.31 860,946,817.68
Cash paid for all types of taxes 1,255,897,698.87 486,431,106.65
Cash paid relating to other operating activities 1,978,285,823.42 1,393,212,452.00
Sub-total of cash outflows 13,140,705,522.85 8,933,614,594.40
Net cash flows from operating activities 3,084,979,381.44 485,594,788.38
II. CASH FLOWS FROM INVESTING ACTIVITIES:
Cash received from disposal of investments 8,232,153.38
Cash received from return on investments 1,633,554,609.72
Net cash received from disposal of fixed assets, intangible
assets and other long-term assets 505,132.49 48,191.45
Cash received from disposal of subsidiary and other business
units
Cash received relating to other investing activities 150,000,000.00 100,166,381.00
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Chongqing Changan Automobile Company Limited Semi-annual Report 2013
Sub-total of cash inflows 1,792,291,895.59 100,214,572.45
Cash paid for acquisition of fixed assets, intangible assets and
other long-term assets 1,093,863,030.64 2,643,411,934.03
Cash paid for acquisition of investments 3,086,000.00 9,000,000.00
Cash paid for acquisition of subsidiary and other business
units
Cash paid relating to other investing activities 100,000,000.00 272,900.00
Sub-total of cash outflows 1,196,949,030.64 2,652,684,834.03
Net cash flows from investing activities 595,342,864.95 -2,552,470,261.58
III. CASH FLOWS FROM FINANCING ACTIVITIES:
Cash received from absorbing investment
Cash received from borrowings 684,521,483.81
Cash received from issuing bond 1960700000
Cash received relating to other financing activities
Sub-total of cash inflows 2,645,221,483.81
Cash repayments of borrowings 1,020,000,000.00 763,011,483.81
Cash paid for distribution of dividends or profits and interest
expenses 379,538,579.39 26,765,599.92
Cash paid relating to other financing activities 496,926,898.51
Sub-total of cash outflows 1,399,538,579.39 1,286,703,982.24
Net cash flows from financing activities -1,399,538,579.39 1,358,517,501.57
IV. EFFECT OF CHANGES IN EXCHANGE RATE ON
CASH
V. NET INCREASE IN CASH AND CASH
EQUIVALENTS 2,280,783,667.00 -708,357,971.63
Add: Opening balance of cash and cash equivalents 3,081,165,146.84 3,748,480,642.89
VI. CLOSING BALANCE OF CASH AND CASH
EQUIVLANT 5,361,948,813.84 3,040,122,671.26
40
Chongqing Changan Automobile Company Limited Semi-annual Report 2013
7、Consolidated statement of changes in shareholders’ equity
Current period
Equity attributable to owners
Items Less:
Special General
Treasur Minority interest Total equity
Share capital Capital reserves reserve Surplus reserves reserve Retained earnings Others
y
s s
shares
I. At end of last
4,662,886,108.00 3,088,935,360.43 0 01,441,483,901.26 0 6,335,790,529.86 -16,160,551.29 -122,007,625.09 15,390,927,723.17
year
Add: Accounting policy
0
changes
Amendment of prior
0
error
Others 0
II. At beginning of
4,662,886,108.00 3,088,935,360.43 0 01,441,483,901.26 0 6,335,790,529.86 -16,160,551.29 -122,007,625.09 15,390,927,723.17
year
III. Changes during
0 -19,010,250.00 0 0 0 0 1,102,150,187.91 -3,279,373.50 -12,990,988.56 1,066,869,575.85
the year (‘－” means less)
I) Net profit 1,330,969,826.33 -12,990,988.56 1,317,978,837.77
II) Other
-19,010,250.00 -3,279,373.50 -22,289,623.50
comprehensive income
Subtotal of I) and II) 0 -19,010,250.00 0 0 0 0 1,330,969,826.33 -3,279,373.50 -12,990,988.56 1,295,689,214.27
III) Input by investors
0 0 0 0 0 0 0 0 0 0
and decrease in capital
41
Chongqing Changan Automobile Company Limited Semi-annual Report 2013
1．Capital input by investors
2 ． Equity-settled share-based
payment
3．Others
IV) Distribution of
0 0 0 0 0 0 -228,819,638.42 0 0 -228,819,638.42
profits
1．Pick-up of surplus reserves
2．Pick-up of general reserves
3．Distribution to owners -228,819,638.42 -228,819,638.42
4．Others
V) Internal transfer
0 0 0 0 0 0 0 0 0 0
of shares
1．Capital reserves transfer to
share capital
2 ． Capital increase from
surplus reserve
3 ． The deficit covered by
surplus reserve
4．Others
VI) Special reserve 0 0 0 0 0 0 0 0 0 0
1．Pick-up in current period
2．Used in current period
VII) Others
IV. At end of year 4,662,886,108.00 3,069,925,110.43 0 01,441,483,901.26 0 7,437,940,717.77 -19,439,924.79 -134,998,613.65 16,457,797,299.02
42
Chongqing Changan Automobile Company Limited Semi-annual Report 2013
Prior period
Current period
Equity attributable to owners
Items Less:
Special General
Treasur Minority interest Total equity
Share capital Capital reserves reserve Surplus reserves reserve Retained earnings Others
y
s s
shares
I. At end of last
year 4,834,482,546.00 3,406,243,605.93 0 01,279,333,001.49 0 5,238,240,172.61 -19,067,864.01 -90,605,689.02 14,648,625,773.00
Add: Business combination
involving entities under
common control 0
Add: Accounting policy changes 0
Amendment of prior error 0
Others 0
II. At beginning
of year 4,834,482,546.00 3,406,243,605.93 0 01,279,333,001.49 0 5,238,240,172.61 -19,067,864.01 -90,605,689.02 14,648,625,773.00
III. Changes during
the year (‘－” means less) -171,596,438.00 -317,308,245.50 0 0 162,150,899.77 0 1,097,550,357.25 2,907,312.72 -31,401,936.07 742,301,950.17
I) Net profit 1,446,409,591.28 -31,401,936.07 1,415,007,655.21
II) Other
comprehensive income 8,022,215.00 2,907,312.72 10,929,527.72
Subtotal of I) and II) 0 8,022,215.00 0 0 0 0 1,446,409,591.28 2,907,312.72 -31,401,936.07 1,425,937,182.93
III) Input by
investors and decrease in capital -171,596,438.00 -325,330,460.50 0 0 0 0 0 0 0 -496,926,898.50
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Chongqing Changan Automobile Company Limited Semi-annual Report 2013
1．Capital input by investors -171,596,438.00 -325,330,460.50 -496,926,898.50
2．Equity-settled share-based
payment 0
3．Others 0
IV) Distribution of
profits 0 0 0 0 162,150,899.77 0 -348,859,234.03 0 0 -186,708,334.26
1．Pick-up of surplus reserves 162,150,899.77 -162,150,899.77 0
2．Pick-up of general reserves -186,708,334.26 -186,708,334.26
3．Distribution to owners 0
4．Others 0
V) Internal
transfer of shares 0
1．Capital reserves transfer to
share capital 0
2 ． Capital increase from
surplus reserve 0
3 ． The deficit covered by
surplus reserve 0
4．Others 0
VI) Special reserve 0
1．Pick-up in current period 0
2．Used in current period 0
VII) Others 0
IV. At end of year 4,662,886,108.00 3,088,935,360.43 0 01,441,483,901.26 0 6,335,790,529.86 -16,160,551.29 -122,007,625.09 15,390,927,723.17
44
Chongqing Changan Automobile Company Limited Semi-annual Report 2013
8、Statement of changes in shareholders’ equity
Current period
Items Less: Treasury Special General
Share capital Capital reserves Surplus reserves Retained earnings Total equity
shares reserves reserves
I. At end of last year 4,662,886,108.003,351,635,767.88 0 0 1,441,483,901.26 0 7,504,810,776.85 16,960,816,553.99
Add: Accounting policy changes 0
Amendment of prior error 0
Others 0
II. At beginning of year 4,662,886,108.003,351,635,767.88 0 0 1,441,483,901.26 0 7,504,810,776.85 16,960,816,553.99
III. Changes during the year (‘－”
means less) 0 -19,010,250.00 0 0 0 0 1,130,806,897.17 1,111,796,647.17
I) Net profit 1,359,626,535.59 1,359,626,535.59
II) Other comprehensive income -19,010,250.00 -19,010,250.00
Subtotal of I) and II) 0 -19,010,250.00 0 0 0 0 1,359,626,535.59 1,340,616,285.59
III) Input by investors and decrease
in capital 0 0 0 0 0 0 0 0
1．Capital input by investors 0
2．Equity-settled share-based payment 0
3．Others 0
IV) Distribution of profits 0 0 0 0 0 0 -228,819,638.42 -228,819,638.42
1．Pick-up of surplus reserves 0
2．Pick-up of general reserves 0
3．Distribution to owners -228,819,638.42 -228,819,638.42
45
Chongqing Changan Automobile Company Limited Semi-annual Report 2013
4．Others 0
V) Internal transfer of shares 0 0 0 0 0 0 0 0
1．Capital reserves transfer to share capital 0
2．Capital increase from surplus reserve 0
3．The deficit covered by surplus reserve 0
4．Others 0
VI) Special reserve 0 0 0 0 0 0 0
1．Pick-up in current period 0
2．Used in current period 0
VII) Others 0
IV. At end of year 4,662,886,108.003,332,625,517.88 0 0 1,441,483,901.26 0 8,635,617,674.02 18,072,613,201.16
Prior period
Prior period
Items
Share capital Share capital Share capital Share capital
I. At end of last year 4,834,482,546.003,664,141,853.38 1,279,333,001.49 6,232,161,013.19 16,010,118,414.06
Add: Accounting policy changes 0
Amendment of prior error 0
Others 0
II. At beginning of year 4,834,482,546.003,664,141,853.38 0 0 1,279,333,001.49 0 6,232,161,013.19 16,010,118,414.06
III. Changes during the year (‘－”
means less) -171,596,438.00 -312,506,085.50 0 0 162,150,899.77 0 1,272,649,763.66 950,698,139.93
I) Net profit 1,621,508,997.69 1,621,508,997.69
II) Other comprehensive income 12,824,375.00 12,824,375.00
46
Chongqing Changan Automobile Company Limited Semi-annual Report 2013
Subtotal of I) and II) 12,824,375.00 0 0 0 0 1,621,508,997.69 1,634,333,372.69
III) Input by investors and decrease
in capital -171,596,438.00 -325,330,460.50 0 0 0 0 0 -496,926,898.50
1．Capital input by investors -171,596,438.00 -325,330,460.50 -496,926,898.50
2．Equity-settled share-based payment 0
3．Others 0
IV) Distribution of profits 0 0 0 0 162,150,899.77 0 -348,859,234.03 -186,708,334.26
1．Pick-up of surplus reserves 162,150,899.77 -162,150,899.77 0
2．Pick-up of general reserves 0
3．Distribution to owners -186,708,334.26 -186,708,334.26
4．Others 0
V) Internal transfer of shares 0 0 0 0 0 0 0 0
1．Capital reserves transfer to share capital 0
2．Capital increase from surplus reserve 0
3．The deficit covered by surplus reserve 0
4．Others 0
VI) Special reserve 0 0 0 0 0 0 0 0
1．Pick-up in current period 0
2．Used in current period 0
VII) Others 0
IV. At end of year 4,662,886,108.003,351,635,767.88 0 0 1,441,483,901.26 0 7,504,810,776.85 16,960,816,553.99
47
Chongqing Changan Automobile Company Limited Semi-annual Report 2013
三、Corporate information
Chongqing Changan Automobile Company Limited (hereafter referred to as the “Company”) was established by
China Changan Automobile Group (hereafter referred to as the “Changan Group”) as the individual originator on
31 October 1996. The company was set up using the group’s net asset relating to the operation of mini cars and
engine, the shares its owned in Chongqing Changan Suzuki company limited (506,190,000 shares) and the fund
raising from the issuance of 250,000,000 foreign capital stock (B shares), with total share capital of
RMB756,190,000. The Legal Representative’s Operating License issued by Chongqing Industrial and Commercial
Administrative Bureau is Yu-Jing No. 28546236-3.
With the approval of China securities regulatory commission, the company initially floated on share market on 19
May 1997 by issuing120,000,000 common shares(A share) to the public. The offering increased the total share
capital to RMB876,190,000.
On 26 June 1998, the Company issued 4 shares for each 10 shares to existing shareholders of the original
876,190,000 shares. The issuance was made from capital common reserve and increased the total share capital to
RMB1,226,666,000.
On 26 May 2004, the Company offered 2 bonus shares for each 10 shares holding by existing shareholder which
increased the total share capital from RMB1,226,666,000 to RMB1,471,999,200.
On 26 August 2004, with the approval of China securities regulatory commission, the Company offered
148,850,000 common shares (A share) to the market which increased the total share capital to RMB1,620,849,200.
In December 2005, China South Industries Group Corporation (hereafter referred to as the “South Group”), the
ultimate parent company, used the common share (850,399,200 shares) owned by its subsidiary of Changan Group,
as part of the investment to established China South industries Motor Company (hereafter referred to as ”South
Industries Motor”). The share occupied 52.46% of the Company’s total share capital. Therefore, South industries
Motor became the parent company of Chongqing Changan. On 30 March 2006, the transfer of share was registered
by Shenzhen branch of China Securities Depository and Clearing Corporation limited.
In May 2006, South Industries Motor issued 3.2 bonus shares for each 10 shares to the shareholders at the
implementation date of reformation of non-tradable shares for their non-tradable shares according to the ”Reply of
the problems related the reformation of non-tradable shares of Chongqing Changan Automobile Co., Ltd.”
(2006[442] Guo Zi Chan Quan) issued by the State-owned Assets Supervision and Administration Commission of
State Council and the related shareholder’s meeting. After the reformation of non-tradable shares, South Industries
Motor occupied 45.548% of equity through 738,255,200 common shares.
On 15 May 2007, the Company issued 2 bonus shares for each 10 shares to existing shareholders which increased
the total share capital from RMB1,620,849,200 to RMB1,945,019,040 .
48
Chongqing Changan Automobile Company Limited Semi-annual Report 2013
On 30 May 2008, the Company issued 2 shares for each 10 shares owned by existing shareholders. The total
issuance of 389,003,808 shares was made from common reserve in capital. After this issuance, total share capital
increased to RMB2,334,022,848.
On 3 March 2009, the secondary temporary shareholder meeting was held. The board resolution about ‘the
reacquisition of foreign capital stock listed in China’ was approved in the meeting. For the buyback period ended
on 3 March 2010, the company repurchased 8,365,233 shares in total, equal to 0.3584% of total capital. On 17
March 2010, the company cancelled the share and the share capital decreased to RMB2,325,657,615.
On 1 July 2009, with the approval of State Administration for Industry and Commercial, South industries Motor,
the parent company changed its name as China Changan Automobile Industry (Group) Co., Ltd. (hereafter refer to
as the “China Changan”).
With the approval of China securities regulatory commission on 14 January 2011, the Company issued
360,166,022 common shares (A share), which increased the total share capital to RMB2,685,823,637. After the
completion of the issuance, China Changan hold 1,163,787,489 shares of the Company's common stock, and the
held equity interest decreased to 43.33%.
On 18 May 2011, the Company issued 4 bonus shares for each 10 shares and issued 4 shares to 10 shares from
common reserve in capital to existing shareholders. After this issuance, the total share capital has been increased to
RMB4,834,482,546.
On 21 December 2011, the first temporary shareholder meeting was held. The board resolution about ‘the
reacquisition of foreign capital stock listed in China’ was approved in the meeting. For the buyback period ended
on 20 March 2012, the company repurchased 171,596,438 shares in total, equal to 3.55% of total capital. On 30
March 2012, the company cancelled the share and the share capital decreased to RMB4,662,886,108.
On 24 August 2012, the Company obtained a new business license with registration number of 500000000005061.
The Company and its subsidiaries (hereafter referred to as the “Group”) mainly focus on the manufacturing and
sales of automobile (include cars), automobile engine, spare parts.
According to the Articles of Association, the financial statements, which has been approved by the board of
directors on 16 April 2013, was submitted to general meeting of shareholders for approval.
四、Main accounting policies,accounting eatimates and errors of previous period
1、Basisofpreparation
ThefinancialstatementshavebeenpreparedinaccordancewithAccountingStandardsforBusinessEnterprises‐BasicStandard
49
Chongqing Changan Automobile Company Limited Semi-annual Report 2013
and38specificstandardsissuedinFebruary2006,andtheimplementationguidance,interpretationsandotherrelevantprovisions
issuedsubsequentlybytheMOF(correctlyreferredtoas“AccountingStandardsforBusinessEnterprises”).
Thefinancialstatementsarepresentedonagoingconcernbasis.
TheGroupmaintainsitsaccountingrecordsonanaccrualbasis.Exceptforcertainfinancialinstruments,assetsarerecordedat
actual cost when they are acquired. If the assets are impaired, the corresponding provisions should be made accordingly. The
assetsarerecordedatassessedvaluebyState‐ownedAssetsSupervisionandAdministration CommissionoftheStateCouncil,
whichareinvestedintotheGroupinthereformingperiod.。
2、StatementofcompliancewithAccountingStandardsforBusinessEnterprises
Thefinancialstatementspresentfairlyandfully,thefinancialpositionoftheCompanyasat31December2012andthefinancial
resultsandthecashflowsfortheyearthenendedinaccordancewithAccountingStandardsforBusinessEnterprises。
3、Accountingyear
TheaccountingyearoftheGroupisfrom1Januaryto31Decemberofeachcalendaryear。
4、Functionalcurrency
TheGroup’sfunctionalandreportingcurrencyistheRenminbi(“RMB”). Unlessotherwisestated,theunitofthecurrencyisYuan.
EachentityintheGroupdeterminesitsownfunctionalcurrencyinaccordancewiththeoperatingcircumstances.Attheendofthe
reportingperiod,theforeigncurrencyfinancialstatementsaretranslatedintothereportingcurrencyoftheCompanyofRMB.
5、Under the same control and not under the same control enterprise merger accounting methods
（1）Businesscombinationinvolvingentitiesundercommoncontrol
Abusinesscombinationinvolvingentitiesundercommoncontrolisabusinesscombinationinwhichallofthecombiningentities
areultimatelycontrolledbythesamepartyorpartiesbothbeforeandafterthecombination,andthatcontrolisnottransitory.
Forabusinesscombinationinvolvingentitiesundercommoncontrol,thepartythat,onthecombinationdate,obtainscontrolof
anotherentityparticipatinginthecombinationistheacquiringparty,whilethatotherentityparticipatinginthecombinationisa
partybeingacquired. Combinationdateisthedateonwhichtheacquiringpartyeffectivelyobtainscontrolofthepartybeing
acquired.
Assets and liabilities that are obtained by the acquiring party in a business combination shall be measured at their carrying
amountsatthecombinationdateasrecordedbythepartybeingacquired. Thedifferencebetweenthecarryingamountofthe
netassetsobtainedandthecarryingamountoftheconsiderationpaidforthecombination(ortheaggregatefacevalueofshares
issuedasconsideration)shallbeadjustedtocapitalreserve. Ifthecapitalreserveisnotsufficienttoabsorbthedifference,any
excessshallbeadjustedagainstretainedearnings。
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Chongqing Changan Automobile Company Limited Semi-annual Report 2013
（2）Businesscombinationinvolvingentitiesnotundercommoncontrol
A business combination involving entities not under common control is a business combination in which all of the combining
entities are not ultimately controlled by the same party or parties both before and after the combination. For a business
combinationinvolvingentitiesnotundercommoncontrol,thepartythat,ontheacquisitiondate,obtainscontrolofanotherentity
participating in the combination is the acquirer, while that other entity participating in the combination is the acquiree.
Acquisitiondateisthedateonwhichtheacquirereffectivelyobtainscontroloftheacquiree.
The acquirer shall measure the acquiree’s identifiable assets, liabilities and contingent liabilities acquired in the business
combinationattheirfairvaluesontheacquisitiondate。
Wherethesumofthefairvalueoftheconsiderationtransferred(orthefairvalueoftheissuedequitysecurities)andthefairvalue
oftheacquirer’spreviouslyheldequityinterestintheacquireeexceedstheacquirer’sinterestinthefairvalueoftheacquiree’s
identifiable net assets, the difference shall be recognized as goodwill and measured at cost less any accumulated impairment
losses. Wherethesumofthefairvalueoftheconsiderationtransferred(orthefairvalueoftheissuedequitysecurities)andthe
fairvalueoftheacquirer’spreviouslyheldequityinterestintheacquireeislessthantheacquirer’sinterestinthefairvalueofthe
acquiree’sidentifiablenetassets,thedifferenceshallbeaccountedforaccordingtothefollowingrequirements:(i)theacquirer
shall reassess the measurement of the fair values of the acquiree’s identifiable assets, liabilities and contingent liabilities and
measurementofthefairvalueoftheconsiderationtransferred(orthefairvalueoftheissuedequitysecurities)andthefairvalueof
the acquirer’s previously held equity interest in the acquiree; (ii) if after that reassessment, the sum of the fair value of the
considerationtransferred(orthefairvalueoftheissuedequitysecurities)andthefairvalueoftheacquirer’spreviouslyheldequity
interestintheacquireeisstilllessthantheacquirer’sinterestinthefairvaluesoftheacquiree’sidentifiablenetassets,theacquirer
shallrecognizetheremainingdifferenceimmediatelyintheincomestatementforthecurrentperiod
6、Consolidatedfinancialstatements
The scope of consolidation of consolidated financial statements is determined based on control, and includes the financial
statements of the Company and its subsidiaries for the year ended 30 June 2013. A subsidiary is an enterprise or entity that is
controlledbytheGroup.
Consolidated financial statements are prepared using uniform reporting dates and accounting policies. All significant
intercompanytransactions,balances,unrealizedprofitanddividendswithintheGroupareeliminatedonconsolidation.
Whenthecurrentlossbelongtominoritiesofthesubsidiaryexceedsthebeginningequityofthesubsidiarybelongtominorities,
theexceededpartwillstilldeducttheequitybelongtominorities.Thechangesoftheequitybelongtominoritieswithoutlossof
controlisregardedascapitaltransaction。
Withrespecttosubsidiariesacquiredthroughbusinesscombinationsinvolvingentitiesnotundercommoncontrol,theoperating
resultsandcashflowsoftheacquireeshouldbeincludedintheconsolidatedfinancialstatements,fromthedaythattheGroup
gainscontrol,tilltheGroupceasesthecontrolofit. Whilepreparingtheconsolidatedfinancialstatements,theacquirershould
adjust the subsidiary’s financial statements, on the basis of the fair values of the identifiable assets, liabilities and contingent
liabilitiesrecognizedontheacquisitiondate.
With respect to subsidiaries acquired through business combinations involving entities under common control, the operating
resultsandcashflowsoftheacquireeshouldbeincludedintheconsolidatedfinancialstatementsfromthebeginningoftheperiod
inwhichthecombinationoccurs
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7、The determination of cash and cash equivalents
Cash comprises cash on hand and bank deposits whichcan be used for payment at any time; Cash equivalents are short‐term,
highlyliquidinvestmentsheldbytheCompany,thatarereadilyconvertibletoknownamountsofcashandwhicharesubjecttoan
insignificantriskofchangesinvalue。
8、Foreigncurrencytranslation
（1）foreign currency transaction
TheGrouptranslatestheamountofforeigncurrencytransactionsoccurredintofunctionalcurrency.
The foreign currency transactions are recorded, on initial recognition in the functional currency, by applying to the foreign
currencyamountatthespotexchangerateasatthetransactiondates.Foreigncurrencymonetaryitemsaretranslatedusingthe
spotexchangeratequotedbythePeople’sBankofChinaatthebalance sheetdate.The exchange gainsorlossesarisingfrom
occurrence of transactions and exchange of currencies, except for those relating to foreign currency borrowings specifically for
construction and acquisition of fixed assets capitalized, are dealt with in the profit and loss accounts. Non‐monetary foreign
currencyitemsmeasuredathistoricalcostremaintobetranslatedatthespotexchangerateprevailingonthetransactiondate,
and the amount denominated in the functional currency should not be changed. Non‐monetary foreign currency items
measuredatfairvalueshouldbetranslatedatthespotexchangerateprevailingonthedatewhenthefairvaluesaredetermined.
Theexchangedifferencethusresultedshouldbechargedtothecurrentincomeorcapitalsurplusaccountofthecurrentperiod。
（2）Conversion of foreign currency financial statements
Whenpreparingconsolidatedfinancialstatements,thefinancialstatementsofthesubsidiariespresentedinforeigncurrenciesare
translated into Renminbi as follows: asset and liability accounts are translated into Renminbi at exchange rates ruling at the
balance sheet date; shareholders’ equity accounts other than retained profits are translated into Renminbi at the applicable
exchange rates ruling at the transaction dates; items in income statement other than profit appropriation statement are
translated into Renminbi at spot exchange rates on transaction occurrence; total difference between translated assets and
translatedliabilitiesandshareholders’equityisseparatelylistedas“foreigncurrencyexchangedifferences”belowretainedprofits.
Thetranslationdifferencearisingfromthesettlementofoverseasubsidiariesischargedtothecurrentliquidationprofitandlossin
proportiontothesettlementratiooftheassetsconcerned.
Foreigncurrencycashflowsandthecashflowsofforeignsubsidiariesshouldbetranslatedusingtheaverageexchangerate
prevailingonthetransactionmonthduringwhichthecashflowsoccur. Theamountoftheeffectonthecasharisingfromthe
changeintheexchangerateshouldbeseparatelypresentedasanadjustmentiteminthecashflowstatement。
9、Financialinstruments
Afinancialinstrumentisanycontractthatgivesrisetoafinancialassetofoneentityandafinancialliabilityorequityinstrumentof
anotherentity。
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Chongqing Changan Automobile Company Limited Semi-annual Report 2013
（1）The classification of financial instruments
Financialassetsare,oninitialrecognition,classifiedintothefollowingcategories:financialassetsatfairvaluethroughprofitor
loss,held‐to‐maturityinvestments,loansandreceivables,available‐for‐salefinancialassets,andthederivativesdesignatedas
effectivehedginginstrument.Theclassificationoffinancialassetsisdeterminedoninitialrecognition.Afinancialassetis
recognizedinitiallyatfairvalue. Inthecaseoffinancialassetsatfairvaluethroughprofitorloss,relevanttransactioncostsare
directlychargedtotheprofitandlossofthecurrentperiod;transactioncostsrelatingtofinancialassetsofothercategoriesare
includedintheamountinitiallyrecognized。
（2）Recognition basis and measurement of financial instruments
The confirmation of financial instruments
The Group recognizes a financial asset or a financial liability on its balance sheet, when the Group becomes a party to the
contractualprovisionoftheinstrument.。
Financial assets classification and measurement
Financialassetsare,oninitialrecognition,classifiedintothefollowingcategories:financialassetsatfairvaluethroughprofitor
loss, held‐to‐maturity investments, loans and receivables, available‐for‐sale financial assets, and the derivatives designated as
effective hedging instrument. The classification of financial assets is determined on initial recognition. A financial asset is
recognizedinitiallyatfairvalue. Inthecaseoffinancialassetsatfairvaluethroughprofitorloss,relevanttransactioncostsare
directlychargedtotheprofitandlossofthecurrentperiod;transactioncostsrelatingtofinancialassetsofothercategoriesare
includedintheamountinitiallyrecognized。
hesubsequentmeasurementoffinancialliabilitiesdependsontheirclassificationasfollows:
Financialassetsatfairvaluethroughprofitorloss
Financial assets at fair value through profit or loss include financial assets held for trading and those designated upon initial
recognition as at fair value through profit or loss. A financial asset held for trading is the financial asset that meets one of the
followingconditions:thefinancialassetisacquiredforthepurposeofsellingitinashortterm;thefinancialassetisapartofa
group of identifiable financial instruments that are collectively managed, and there is objective evidence indicating that the
enterprise recently manages this group for the purpose of short‐term profits; the financial asset is a derivative, except for a
derivativethatisdesignatedaseffectivehedginginstrument,orafinancialguaranteecontract,oraderivativethatislinkedtoand
must be settled by delivery of an unquoted equity instrument (without a quoted price from an active market) whose fair value
cannotbereliablymeasured. For suchkind offinancialassets, fair values areadopted forsubsequent measurement. All the
realizedorunrealizedgainsorlossesonthesefinancialassetsarerecognizedinprofitorlossforthecurrentperiod.Dividendor
interestincomerelatedtofinancialassetsatfairvaluethroughprofitorlossisrecognizedinprofitorlossforthecurrentperiod.
Held‐to‐maturityinvestments
Held‐to‐maturityinvestmentsarenon‐derivativefinancialassetswithfixedordeterminablepaymentsandfixedmaturitythatan
entity has the positive intention and ability to hold to maturity. Such kind of financial assets are subsequently measured at
amortizedcostusingtheeffectiveinterestmethod. Gainsor lossesarisingfromderecognition, impairment or amortization are
recognizedinprofitorlossforthecurrentperiod.
Loansandreceivables
Loans and receivables are non‐derivative financial assets withfixed or determinable payments that are not quoted in an active
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Chongqing Changan Automobile Company Limited Semi-annual Report 2013
market.Suchkindoffinancialassetsaresubsequentlymeasuredatamortizedcostusingtheeffectiveinterestmethod.Gainsor
lossesarisingfromderecognition,impairmentoramortizationarerecognizedinprofitorlossforthecurrentperiod.
Available‐for‐salefinancialassets
Available‐for‐sale financial assets are those non‐derivative financial assets that are designated as available for sale or are not
classifiedastheabovefinancialassets.Afterinitialrecognition,available‐for‐salefinancialassetsaremeasuredatfairvalue.The
premium/discount is amortized using effective interest method and recognized as interest income or expense. A gain or loss
arisingfrom a change in thefair value of an available‐for‐sale financialassetisrecognizedinothercomprehensiveincome asa
component of capital reserve, except for impairment losses and foreign exchange gains and losses resulted from monetary
financialassets,untilthefinancialassetisderecognizedordeterminedtobeimpaired,atwhichtimetheaccumulatedgainorloss
previously recognized in capital reserve is removed from capital reserve and recognized in profit or loss for the current period.
Interestsanddividendsrelatingtoanavailable‐for‐salefinancialassetarerecognizedinprofitorlossforthecurrentperiod.
Classificationandmeasurementoffinancialliabilities
TheGroup’sfinancialliabilitiesare,oninitialrecognition,classifiedintothefollowingcategories:financialliabilitiesatfairvalue
throughprofitorloss,otherfinancialliabilities,andthederivativesdesignatedaseffectivehedginginstrument.Theclassification
of financial liabilities is determined on initial recognition. For financial liabilities at fair value through profit or loss, relevant
transactioncostsaredirectlyrecognizedinprofitorlossforthecurrentperiod,andtransactioncostsrelatingtootherfinancial
liabilitiesareincludedintheinitialrecognitionamounts.
Thesubsequentmeasurementoffinancialliabilitiesdependsontheirclassificationasfollows:
Financialliabilitiesatfairvaluethroughprofitorloss
Financialliabilities at fair valuethroughprofitorlossinclude financialliabilitiesheldfortradingandthosedesignatedasat fair
valuethroughprofitorloss.Afinancialliabilityheldfortradingisthefinancialliabilitythatmeetsoneofthefollowingconditions:
the financial liability is assumed for the purpose of repurchasing it in a short term; the financial liability is a part of a group of
identifiable financial instruments that are collectively managed, and there is objective evidence indicating that the enterprise
recentlymanagesthisgroupforthepurposeofshort‐termprofits;thefinancialliabilityisaderivative,exceptforaderivativethat
is designated and effective hedging instrument, or a financial guarantee contract, or a derivative that is linked to and must be
settledbydeliveryofanunquotedequityinstrument(withoutaquotedpriceformanactivemarket)whosefairvaluecannotbe
reliablymeasured.Forsuchkindoffinancialliabilities,fairvaluesareadoptedforsubsequentmeasurement. Alltherealizedor
unrealizedgainsorlossesonthesefinancialliabilitiesarerecognizedinprofitorlossforthecurrentperiod。
Otherfinancialliabilities
Afterinitialrecognition,thesefinancialliabilitiesaremeasuredatamortizedcostusingtheeffectiveinterestmethod.
Derivativefinancialinstruments
Derivativefinancialinstrumentsareinitiallyrecognizedatfairvalueonthedateonwhichaderivativecontractisenteredintoand
aresubsequentlyrevaluatedatfairvalue. Derivativesarecarriedasassetswhenthefairvalueispositiveandasliabilitieswhen
the fair value is negative. An investment in equity instruments do not have a quoted market price in an active market, or
derivativeslinkedtosuchequityinstruments,ismeasuredatcostbecauseitsfairvaluecannotbemeasuredreliably.
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Chongqing Changan Automobile Company Limited Semi-annual Report 2013
Any gains or losses arising from changes in fair value on derivatives that do not qualify for hedge accounting are directly
recognizedintheincomestatement.
（3）The transfer of a financial asset recognition basis and measurement methods
If the Group transfers substantially all the risks and rewards of ownership of the financial asset, the Group derecognizes the
financial asset; and if the Group retains substantially all the risks and rewards of the financial asset, the Group does not
derecognizethefinancialasset.
If the Group neither transfers nor retains substantially all the risks and rewards of ownership of the financial asset, the Group
determines whether it has retained control of the financial asset. In this case: (i) it the Group has not retained control, it
derecognizesthefinancialassetandrecognizeseparatelyasassetsorliabilitiesanyrightsandobligationscreatednotretainedin
the transfer; (ii) if the Group has retained control, it continues to recognize the financial asset to the extent of its continuing
involvementinthetransferredfinancialassetandrecognizesanassociatedliability。
The Group derecognizes a financial asset (or part of a financial asset, or part of a group of similar financial assets) when the
followingconditionsaremet:
(1) therightstoreceivecashflowsfromtheassethaveexpired;
(2) theGrouptransferredtherightstoreceivecashflowsfromtheasset,orhasassumedanobligationtopaythereceived
cash flows in full without material delay to a third party under a “pass‐through” arrangement; and either (a) has
transferredsubstantiallyalltherisksandrewardsoftheasset,or(b)hasneithertransferrednorretainedsubstantiallyall
therisksandrewardsoftheasset,buthastransferredcontroloftheasset.
If the underlying obligation of a financial liability has been discharged or cancelled or has expired, the financial liability is
derecognized. Ifanexistingfinancialliabilityisreplacedbythesamecreditor,withanewfinancialliabilitythathassubstantially
differentterms,orifthetermsofanexistingfinancialliabilityaresubstantiallyrevised,suchreplacementorrevisionisaccounted
forasthederecognitionoftheoriginalliabilityandtherecognitionofanewliability,andthedifferencethusresultedisrecognized
inprofitorlossforthecurrentperiod.
Whenbuyorsellfinancialinstrumentsunderanormalway,financialinstrumentsarerecognizedorderecognizedaccordingtothe
transactiondateaccounting.Anormalwaytobuyorsellfinancialinstrumentsrefersto,accordingtothecontractterms,receiveor
deliverfinancialinstrumentswithintheperiodasrequiredbylegalregulationorgenerallyacceptedguidelines.Transactiondate
referstothedatewhentheGroupcommittedtobuyorsellfinancialinstruments.
（4）Financial liability condition recognition has been stopped
Iftheliabilities ofafinancialliabilityhasmet,cancellationorexpires,thefinancialliabilityforrecognitionhasbeenstopped.Ifthe
existingfinancialliabilityisthesamealmostcompletelydifferenttermsandconditionsofthecreditorstoessentiallyreplacedby
theotherfinancialliabilities,oralmostallthetermsoftheexistingdebtissubstantialmodification,suchreplaceormodifythe
originalliabilitiesandconfirmthenewliabilitiesasterminatedtherecognitionprocessing,balanceintotheprofitsandlossesof
thecurrentperiod.
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Chongqing Changan Automobile Company Limited Semi-annual Report 2013
（5）The determination of the fair value of financial assets and financial liabilities
Ifthereisanactivemarketforafinancialassetorfinancialliability,theGroupdeterminesthefairvaluebyusingthequotedprices.
Ifnoactivemarketexitsforafinancialinstrument,theGroupestablishesfairvaluebyusingavaluationtechnique.Valuation
techniquesincludeusingrecentarm’slengthmarkettransactionsbetweenknowledgeable,willingparties’referencetothecurrent
fairvalueofanotherinstrumentthatissubstantiallythesame,discountedcashflowanalysisandoptionpricingmodels.
（6）Financial assets (excluding receivables) impairment test method, the impairment provision method
The Group assesses the carrying amount of a financial asset, at the balance sheet date. If there is objective evidence that the
financialassetisimpaired,theGroupmakesprovisionfortheimpairmentloss.Objectiveevidencethatafinancialassetisimpaired
isevidencearisingfromoneormoreeventsthatoccurredaftertheinitialrecognitionoftheassetandthateventhasanimpacton
theestimatedfuturecashflowsofthefinancialassetwhichcanbereliablyestimated.
Financialassetscarriedatamortizedcost
Ifobjectiveevidenceshowsthatthefinancialassetscarriedatamortizedcostareimpaired,thecarryingamountofthefinancial
assetshallbereducedtothepresentvalueoftheestimatedfuturecashflow(excludingfuturecreditlossesthathavenotbeen
incurred). The amount of reduction is recognized as an impairment loss in the income statement. Present value of estimated
futurecashflowisdiscountedatthefinancialasset’soriginaleffectiveinterestrateandincludesthevalueofanyrelatedcollateral。
fafinancialassetisindividuallysignificant,theGroupassessestheassetindividuallyforimpairment,andrecognizestheamount
ofimpairmentintheincomestatementifthereisobjectiveevidenceofimpairment.Forafinancialassetthatisnotindividually
significant, the Group can include the asset in a group of financial assets with similar credit risk characteristics and collectively
assessthemforimpairment. Forfinancialassetsthatarenotimpaireduponindividualtests(includingfinancialassetsthatare
individuallysignificantorinsignificant),impairmenttestsshouldbeconductedonthemagainbyincludingtheminthegroupof
financialassets. Assetsforwhichanimpairmentlossisindividuallyrecognizedwillnotbeincludedinacollectiveassessmentof
impairment.
If,subsequenttotherecognitionofanimpairmentlossonafinancialassetcarriedatamortizedcost,thereisobjectiveevidenceof
a recovery in value of the financial asset which can be relatedobjectively to an event occurring after the impairment was
recognized,thepreviouslyrecognizedimpairmentlossisreversedandrecognizedintheincomestatement.However,thereversal
shall not result in a carrying amount of the financial asset that exceeds what the amortized cost would have been had the
impairmentnotbeenrecognizedatthedatetheimpairmentisreversed.
Available‐for‐salefinancialassets
When there is objective evidence that the asset is impaired, the cumulative loss from declines in fair value that had been
recognized directly in capital reserve are removed from equity and recognized in the income statement. The amount of the
cumulativelossthatisremovedfromcapitalreservesandrecognizedintheincomestatement(netofanyprincipalrepaymentand
amortization) and current fair value, less any impairment loss on that financial asset previously recognized in the income
statement.
In the case of equity investments classified as available for sale, objective evidence would include a significant or prolonged
decline in the fair value of an investment below its cost. The determination of what is “significant” or ''prolonged” requires
judgement.“Significant”isevaluatedagainsttheoriginalcostoftheinvestmentand “prolonged”againsttheperiodinwhichthe
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Chongqing Changan Automobile Company Limited Semi-annual Report 2013
fair value has been below its original cost. Where there is evidence of impairment, the cumulative loss – measured as the
difference between the acquisition cost and the current fair value, less any impairment loss on that investment previously
recognised in the income statement – is removed from other comprehensive income and recognised in the income statement.
Impairmentlossesonequityinstrumentsclassifiedasavailableforsalearenotreversedthroughtheincomestatement.Increases
intheirfairvalueafterimpairmentarerecogniseddirectlyinothercomprehensiveincome.
Impairmentlossesondebtinstrumentsarereversedthroughtheincomestatementiftheincreaseinfairvalueoftheinstruments
canbeobjectivelyrelatedtoaneventoccurringaftertheimpairmentlosswasrecognisedintheincomestatement.
Financialassetscarriedatcost
If objective evidence shows that the financial assets carried at cost are impaired, the difference between the present value
discounted at the prevailingrateofreturn ofsimilar financialassetsand thebookvalueofthefinancialassetareprovidedas a
provision.Theimpairmentlossrecognizedcannotbereversed.
For long‐term equity investments, which are accounted for according to the cost method set out by Accounting Standards for
Business Enterprises No. 2 – Long‐term Equity Investments and has no quoted market price in active markets, and whose fair
valuescannotbereliablymeasured,theirimpairmentshouldalsobetreatedinaccordancewiththeaboveprinciple.
10、Confirm the standard and the depreciation method of receivables provision for bad debts
（1）Accountsreceivablewhichisindividuallysignificantandanalyzedindividuallyforprovision
Criterionforindividuallysignificantitemsand Accounts receivable balance greater than RMB15 million due from
analyzedindividuallyforprovision non‐relatedparties
Methodforforprovision Aprovisionofthedifferencebetweenrecoverableamountandbookvalueis
recognizedbasedonindividuallyanalysis.
（2）Accountsreceivableanalyzedbygroupforprovision
The depreciation
group Criterionforgroup
method
Group1 Accountsreceivableotherthanindividuallysignificantitemsduefrom
aginganalysis
non‐relatedparties
Group2 others Accountsreceivableduefromrelatedparties
theprovisionanalyzedaccordingtoaginganalysis
Accountsreceivable Otherreceivables
Aging Provisionpercentage Provisionpercentage(%)
(%)
Within6months 0% 0%
6to12months 5% 5%
1to2years 10% 10%
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Chongqing Changan Automobile Company Limited Semi-annual Report 2013
2to3years 30% 30%
3to4years 50% 50%
4to5years 80% 80%
Above5years 100% 100%
（3）Accountsreceivablewhichisindividuallyinsignificantbutanalyzedindividuallyforprovision
Criterionforindividuallyanalysis Thereisobjectiveevidencethattheaccountsreceivableduefromnon‐relatedpartiesis
forprovision impairedandthefuturerecoverablepossibilityislittle.
Methodforprovision Aprovisionofthedifferencebetweenrecoverableamountandbookvalueisrecognized
individually.
11、Inventory
（1）Classificationofinventory
Inventoryincludesrawmaterials,goodsintransit,workinprogress,finishedgoods,consignedprocessingmaterials,andlow‐value
consumablesandspareparts。
（2）Measurementofissuedinventory
Valuationmethod:weightedaveragemethod
Inventoryisinitiallycarriedattheactualcost. Inventorycostscompriseallcostsofpurchase,costsofconversionandothercosts
incurredinbringingtheinventorytoitspresentlocationandcondition.
Weightedaveragemethodisassignedtothedeterminationofactualcostsofinventories.One‐offwritingoffmethodisadoptedin
amortizationoflow‐valueconsumables.。
（3）Netrealizablevalueofinventoryandinventoryprovision
Atthebalancesheetdate,theinventoryisstatedatthelowerofcostandnetrealizablevalue. Ifthecostishigherthanthenet
realizablevalue,provisionfortheinventoryshouldbemadethroughprofitorloss. Iffactorsthatresultedintheprovisionforthe
inventoryhavedisappearedandmadethenetrealizablevaluehigherthantheirbookvalue,theamountofthewrite‐downshould
bereversed,totheextentoftheamountoftheprovisionfortheinventory,andthereversedamountshouldberecognizedinthe
incomestatementforthecurrentperiod.
Netrealizablevalueistheestimatedsellingpriceintheordinarycourseofbusinesslesstheestimatedcostsofcompletionandthe
estimatedcostsnecessarytomakethesale.Theimpairmentprovisionshouldbemadeonabasisofeachitemofinventories
accordingtothedifferencebetweencostandnetrealizablevalue.Forlargenumbersofinventoriesatrelativelylowunitprices,
theprovisionforlossondeclineinvalueofinventoriesshouldbemadebycategory.
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Chongqing Changan Automobile Company Limited Semi-annual Report 2013
（4）Counting method of inventory
Inventory system: the perpetual inventory system
TheGroupappliesaperpetualcountingmethodofinventory。
（5）The amortization method of low-value products and packages
Low‐valueconsumable
Amortizationmethod:anamortizationmethod
Packingmaterials
Amortizationmethod:anamortizationmethod
12、Long‐termequityinvestments
（1）Initialrecognitionandmeasurement
The long‐term investments are initially recorded at cost on acquisition. Long‐term investments acquired from business
combination under common control shall be initially measured at the carrying value of the held interest of the party being
acquired. Long‐terminvestmentsacquiredfrombusinesscombinationnotundercommoncontrolshallbeinitiallymeasuredat
the cost (or, the sum of the cost and the carrying value of the previously held equity interest in the acquire for the business
combinationachievedbystages),whichincludethefairvalueoftheconsiderationpaid,theliabilitiesbeardandtheissuedequity
instrument. Long‐term investments acquired not from business combination are initially measured at 1)the consideration
together with the cost necessary incurred; 2) the fair value of the equity instruments; and 3) the consideration agreed in the
investmentagreementbytheinvestors,otherwisetheagreedconsiderationwerenotfair.
The Groupadoptedcost methodto accountfor long‐termequityinvestments,when the Grouphasnotcontroloftheinvestee
enterprise,ordoesnothavejointlycontrolorsignificantinfluenceontheinvesteeenterprise,thefairvalueofwhichcannotbe
reliably measured due to the fact they are not quoted in an active market. The Company adopted cost method to account for
long‐terminvestmentsinthesubsidiariesintheseparatefinancialstatementsoftheCompany.Controlisthepowertogovernthe
financialandoperatingpoliciesofanentitysoastoobtainbenefitsfromitsactivities.
Under cost method, the long‐term equity investment is valued at the cost of the initial investment. Profit or cash dividends
declaredbytheinvestedenterprisearerecognizedasinvestmentincomeforthecurrentperiod,exceptthedeclaredbutunpaid
cash dividends and interests included in the initial cost. The Group should assess the impairment of the long‐term
investmentsaccordingwiththeimpairmentpolicyofassets.
The equity method is applied to account for long‐term equity investments, when the Group has jointly control, or significant
influenceontheinvesteecompanies.Jointcontrolisthecontractuallyagreedsharingofcontroloveraneconomicactivity,and
exists only when the strategic financial and operating decisions relating to the activity require the unanimous consent of the
parties sharing control (the venturers). Significant influence is the power to participate in the financial and operating policy
decisionsofaneconomicactivitybutisnotcontrolorjointcontroloverthosepolicies.
Underequitymethod,whentheinitialinvestmentcostofalong‐termequityinvestmentexceedstheinvestingenterprise’s
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Chongqing Changan Automobile Company Limited Semi-annual Report 2013
interestinthefairvaluesoftheinvestee’sidentifiablenetassetsattheacquisitiondate,thedifferencebetweenthemisaccounted
forasaninitialcost. Astotheinitialinvestmentcostislessthantheinvestingenterprise’sinterestinthefairvaluesofthe
investee’sidentifiablenetassetsattheacquisitiondate,thedifferenceshallbechargedtotheincomestatementforthecurrent
period,andthecostofthelong‐termequityinvestmentshallbeadjustedaccordingly。
（2）Subsequentmeasurementandrecognitionofinvestmentincomeorloss
Underequitymethod,theGrouprecognizesitsshareofpost‐acquisitionequityintheinvesteeenterpriseforthecurrentperiodas
againorlossoninvestment,andalsoincreasesordecreasesthecarryingamountoftheinvestment.Whenrecognizingitssharein
thenetprofitorlossoftheinvesteeentities,theGroupshould,basedonthefairvaluesoftheidentifiableassetsoftheinvestee
entity when the investment is acquired, in accordance with the Group’s accounting policies and periods, after eliminating the
portionoftheprofitsorlosses,arisingfrominternaltransactionswithjointventuresandassociates,attributabletotheinvesting
entityaccordingtotheshareratio(butlossesarisingfrominternaltransactionsthatbelongtolossesontheimpairmentofassets,
shouldberecognizedinfull),recognizethenetprofitoftheinvesteeentityaftermakingappropriateadjustments.Thebookvalue
oftheinvestmentisreducedtotheextentthattheGroup’sshareoftheprofitorcashdividenddeclaredtobedistributedbythe
investee enterprise. However, the share of net loss is only recognized to the extent that the book value of the investment is
reducedtozero,excepttotheextentthattheGrouphasincurredobligationstoassumeadditionallosses. TheGroupshalladjust
thecarryingamountofthelong‐termequityinvestmentforotherchangesinowners’equityoftheinvesteeenterprise(otherthan
net profits or losses), and include the corresponding adjustments in equity, which should be realized through profit or loss in
subsequentsettlementoftherespectivelong‐terminvestment.
Onsettlementofalong‐termequityinvestment,thedifferencebetweentheproceedsactuallyreceivedandthecarryingamount
shallberecognizedintheincomestatementforthecurrentperiod.Theincomeorlossrecordedintheequitydirectlyshouldbeen
transferredtothecurrentincomestatementonsettlementoftheequityinvestmentonthedisposalproportion。
（3）Sure of the invested entity has joint control, the basis of a significant impact
Common control, it is to point to in accordance with the contractual stipulations on the mutual control, a certain economic activities,
only in the economic activities related important financial control and the production and business operation decision need to share
investors agreed to exist. Investment enterprises and its parties do joint control over an invested entity, the invested entity as its joint
ventures. Significant impact, refers to the financial and operating policies of an enterprise has the right to participate in
decision-making, but can't control or together with other control policy. Investment enterprise to be able to have significant
influences on an invested entity, the invested entity as its affiliated enterprises。
（4）Impairmentoflong‐terminvestment
RefertoNotesII,27forthedetailsoftheimpairmenttestingforsubsidiaries,jointly‐ventureandassociates.RefertoNotesII,9for
theimpairmenttestingforlong‐terminvestmentthatthefairvalueofwhichcannotbereliablymeasuredduetothefacttheyare
notquotedinanactivemarket.
13、Investmentproperty
nvestmentpropertyarepropertiesheldtoearnrentalsorforcapitalappreciation,orboth,includingrentedlanduseright,landuse
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Chongqing Changan Automobile Company Limited Semi-annual Report 2013
rightwhichisheldandpreparedfortransferafterappreciation,andrentedbuilding。
Theinitialmeasurementoftheinvestmentpropertyshallbemeasuredatitsactualcost.Thefollow‐upexpensespertinenttoan
investmentpropertyshallbeincludedinthecostoftheinvestmentproperty,iftheeconomicbenefitspertinenttothisrealestate
arelikelytoflowintotheenterprise,and,thecostoftheinvestmentpropertycanbereliablymeasured.Otherwise,theyshouldbe
includedinthecurrentprofitsandlossesuponoccurrence.
Thegroupadoptsthecost methodto make follow‐up measurement totheinvestmentproperty.Thebuildings aredepreciated
understraight‐linemethod,Thelanduserightintheamortizedusingthestraight‐linemethodwithintheusefixednumberofyear.
RefertoNotesII,27forthemethodsoftestingandaccruinginvestmentpropertyimpairmentwhichisismeasuredbyemploying
thecostmethod.
14、Fixedassets
（1）Recognitionoffixedassets
AfixedassetshallberecognizedonlywhentheeconomicbenefitsassociatedwiththeassetwillflowtotheGroupandthecostof
theassetcanbemeasuredreliably.Subsequentexpenditureincurredforafixedassetthatmeettherecognitioncriteriashallbe
included in the cost of the fixed asset, and the book value of the component of the fixed asset that is replaced shall be
derecognized.Otherwise,suchexpenditureshallberecognizedintheincomestatementintheperiodinwhichtheyareincurred.
Fixedassetsareinitiallymeasuredatactualcostonacquisition. Thecostofapurchasedfixedassetcomprisesthepurchaseprice,
relevanttaxesandanydirectlyattributableexpenditureforbringingtheassettoworkingconditionforitsintendeduse,suchas
deliveryandhandlingcosts,installationcostsandothersurcharges。
（2）As basis for fixed assets, valuation method
（3）Depreciationmethodoffixedassets
Fixedassetsaredepreciatedonstraight‐linebasis. Theestimatedusefullives,estimatedresidualvaluesandannualdepreciation
ratesforeachcategoryoffixedassetsareasfollows：
Category Deprecationperiod Residualrate(%) Yearlydeprecationrate(%)
Buildings 20to35years 3% 2.77%‐4.85%
Machinery(Note) 5to20years 3% 4.85%‐19.40%
Vehicles 4to12years 3% 8.08%‐24.25%
Others 3to21years 3% 4.62%‐32.33%
Note:themouldsinmachinery
shouldbedepreciatedin
units‐of‐productionmethod
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Chongqing Changan Automobile Company Limited Semi-annual Report 2013
（4）Impairmentoffixedassets
RefertoNotesII,27forthemethodsoftestingandaccruingfixedassetsimpairment。
（5）Others
TheGroupreviewstheusefullifeandestimatednetresidualvalueofafixedassetandthedepreciationmethodappliedatleastat
theendofeachyearandmakesadjustmentsifnecessary。
15、Constructioninprogress
（1）The type of the Construction in progress
Thecostofconstructioninprogressisdeterminedaccordingtotheactualexpenditurefortheconstruction,includingallnecessary
constructionexpenditureincurredduringtheconstructionperiod,borrowingcoststhatshouldbecapitalizedbeforethe
constructionreachestheconditionforintendeduseandotherrelevantexpenses。
（2）Carryforwardforthefixedassetsofprojectsunderconstructionstandardsandpoint
Constructioninprogressistransferredtofixedassetswhentheassetisreadyforitsintendeduse.
（3）themethodsoftestingandaccruingconstructioninprogressimpairment.
RefertoNotesII,27forthemethodsoftestingandaccruingconstructioninprogressimpairment。
16、Borrowingcosts
（1）Thecapitalizationoftheborrowingcostsconfirmprinciple
BorrowingcostsareinterestandothercostsincurredbytheGroupinconnectionwiththeborrowingofthefunds.Borrowingcosts
include interest, amortization of discounts or premiums related to borrowings, ancillary costs incurred in connection with the
arrangementofborrowings,andexchangedifferencesarisingfromforeigncurrencyborrowings.
The borrowing costs that are directly attributable to the acquisition, construction or production of a qualifying asset are
capitalized,otherwisetheborrowingcostsareexpensedintheperiodinwhichtheyareincurred. Aqualifyingassetisanasset
(anitemofproperty,plantandequipmentandinventoryetc.)thatnecessarilytakesasubstantialperiodoftimetogetreadyforits
intendeduseofsale
Thecapitalizationofborrowingcostsareaspartofthecostofaqualifyingassetshallcommencewhen:
(a) expenditurefortheassetisbeingincurred;
(b) borrowingcostsarebeingincurred;and
(c) activitiesthatarenecessarytopreparetheassetforitsintendeduseorsaleareinprogress.
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Chongqing Changan Automobile Company Limited Semi-annual Report 2013
（2）During the period of capitalization of borrowing costs
Capitalizationofborrowingcostsshallceasewhensubstantiallyalltheactivitiesnecessarytopreparethequalifyingassetforits
intendeduseorsale.Andsubsequentborrowingcostsarerecognizedintheincomestatement。
（3）Suspended during the period of capitalization
Duringtheconstructionormanufactureofassetsthatarequalifiedforcapitalization,ifabnormaldiscontinuance,otherthan
proceduresnecessaryfortheirreachingtheexpectedusefulconditions,happens,andthedurationofthediscontinuanceisover
threemonths,thecapitalizationoftheborrowingcostsissuspended. Borrowingcostsincurredduringthediscontinuanceare
recognizedasexpenseandchargedtotheincomestatementofthecurrentperiod,tilltheconstructionormanufactureofthe
assetsresumes。
（4）The calculation method of capitalization of borrowing costs amount
During the capitalization period, the amount of interest to be capitalized for each accounting period shall be determined as
follows:
(a) wherefundsareborrowedforaspecific‐purpose,theamountofinteresttobecapitalizedistheactualinterestexpense
incurredonthatborrowingfortheperiodlessanybankinterestearnedformdepositingtheborrowedfundsbeforebeing
usedontheassetoranyinvestmentincomeonthetemporaryinvestmentofthosefunds;
(b) where funds are borrowed for a general‐purpose, the amount of interest to be capitalized on such borrowings is
determined by applying a weighted average interest rate to the weighted average of the excess amounts of cumulative
expenditureontheassetoverandabovetheamountsofspecific‐purposeborrowings.。
17、Intangibleassets
（1）Valuationmethodsofintangibleassets
AnintangibleassetshallberecognizedonlywhentheeconomicbenefitsassociatedwiththeassetwillflowtotheGroupandthe
costoftheassetcanbemeasuredreliably.Intangibleassetsareinitiallymeasuredatcost.Thecostofintangibleassetsacquiredin
abusinesscombinationisthefairvalueasatthedateofacquisition,ifthefairvaluecanbereliablymeasured。
（2）Service life of the intangible assets with limited service life estimation
The useful life of the intangible assets shall be assessed according to the estimated beneficial period expected to generate
economicbenefits.Anintangibleassetshallberegardedashavinganindefiniteusefullifewhenthereisnoforeseeablelimittothe
periodoverwhichtheassetisexpectedtogenerateeconomicbenefitsforthegroup。
Theusefullivesoftheintangibleassetsareasfollow：
Item Usefullife on the basis
Landuseright 22to61years Fixed number of year of the land to use card
Software 2years The updating cycle of software
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Chongqing Changan Automobile Company Limited Semi-annual Report 2013
Trademark 10years provided by law
Non‐patenttechnology 5years Product life cycle
（3）Judgment of the intangible assets with uncertain service life
Theintangibleassetcanbringeconomicbenefitstothegroupaccordingtoitstermsdeterminetheservicelife,wecan'tforesee
the term to bring economic benefits to the group as the uncertain service life of intangible assets. The group has no uncertain
servicelifeofintangibleassets.
（4）Intangible assets impairment provision
RefertoNotesII,27forthemethodsoftestingandaccruingintangibleassets。
（5）Division within the company research and development specific standards for the research and
development phase of the project
The Group classified the internal research and development expenditures as follows: research expenditures and development
cost.
Theexpendituresinresearchstagearechargedtothecurrentincomeonoccurrence.
The expenditures in development stage are capitalized that meet all the conditions of (a) it is feasible technically to finish
intangibleassetsforuseorsale;(b)itisintendedtofinishanduseorselltheintangibleassets;(c)theusefulnessofmethodsfor
intangibleassetstogenerateeconomicbenefitsshallbeproved,includingbeingabletoprovethatthereisapotentialmarketfor
theproductsmanufacturedbyapplyingtheintangibleassetsorthereisapotentialmarketfortheintangibleassetsitselforthe
intangibleassetswillbeusedinternally;(d)itisabletofinishthedevelopmentoftheintangibleassets,andabletouseorsellthe
intangible assets, with the support of sufficient technologies, financial resources and other resources; and (e) the development
expenditures of the intangible assets can be reliably measured. Expenses incurred that don’t meet the above requirements
unanimouslyshouldbeexpensedintheincomestatementofthereportingperiod.
The Group discriminates between research and development stage with the condition that the project research has been
determined,inwhichtherelevantresearchcompleteallthefractionalizationofproductsmeasurementsandfinalproductscheme
underfinalapprovalofmanagement.
（6）Calculation of the internal research and development spending
Theexpendituresincurredbeforeproject‐determinationstageischargedtothecurrentincome,otherwiseitisrecordedas
developmentcost。
18、Long‐termdeferredexpenses
Thelong‐termdeferredexpensesrepresentthepaymentfortheimprovementonbuildingsandotherexpenses,whichhavebeen
paidandshouldbedeferredinthefollowingyears.Long‐termdeferredexpensesareamortizedonthestraight‐linebasisoverthe
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Chongqing Changan Automobile Company Limited Semi-annual Report 2013
expectedbeneficialperiodandarepresentedatactualexpenditurenetofaccumulatedamortization.。
19、Contingentliabilities
（1）Oftheestimateddebtsconfirmedstandard
Exceptcontingentliabilityrecognizedinabusinesscombination,theGrouprecognizesancontingentliabilitywhentheobligation
arisingfromacontingencymeetsthefollowingconditions：
‐ theobligationisapresentobligationoftheGroup;
‐ itisprobablethatanoutflowofeconomicbenefitsfromtheGroupwillberequired tosettletheobligation;
‐ areliableestimatecanbemadeoftheamountoftheobligation.
（2）Measurementmethodofestimateddebts
Contingent liabilities are initially measured according to the current best estimate for the expenditure necessary for the
performanceofrelevantpresentobligations,withcomprehensiveconsiderationgiventofactorssuchastherisks,uncertaintyand
timevalueofmoneyrelatingtocontingencies. Thebookvalueofthecontingentliabilitiesshouldbereviewedateachbalance
sheetdate. Ifthereisobjectiveevidenceshowingthatthebookvaluecannotreflectthepresentbestestimate,thebookvalue
shouldbeadjustedaccordingtothebestestimate。
20、Revenue
（1）From selling goods to confirm the concrete judgment standard of time
Revenueisrecognizedonlywhenaninflowofeconomicbenefitsisprobable,theamountofwhichcanbereliablymeasured,and
allofthefollowingconditionsarequalified.
Revenuefromthesaleofgoods
The Group has transferred to the buyer the significant risks and rewards of ownership of the goods; the Group retains neither
continuingmanagementinvolvementtothedegreeusuallyassociatedwithownershipnoreffectivecontroloverthegoodssold;
and the amount of revenue can be measured reliably. The proceeds earned from sales of goods are determined based on the
amountreceivedorreceivableasstipulatedinthecontractoragreement,otherwisetheamountisnotfair;Iftheamountreceived
or receivable as stipulated in the contract or agreement is collected in a defer method, it includes the financing elements and
shouldbedeterminedaccordingtothefairvalueoftheamountreceivedorreceivableasstipulatedinthecontractoragreement.
Revenuefromtherenderingofservices
Whentheoutcomeofatransactioninvolvingtherenderingofservicescanbeestimatedreliablyatthebalancesheetdate,
revenueassociatedwiththetransactionisrecognizedusingthepercentageofcompletionmethod,orotherwise,therevenueis
recognizedtotheextentofcostsincurredthatareexpectedtoberecoverable.Theoutcomeofatransactioninvolvingrendering
ofservicescanbeestimatedreliablywhenallofthefollowingconditionsaresatisfied:theamountofrevenuecanbemeasured
reliably;itisprobablethattheassociatedeconomicbenefitswillflowtotheGroup;thestageofcompletionofthetransactioncan
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Chongqing Changan Automobile Company Limited Semi-annual Report 2013
bemeasuredreliably;andthecostsincurredandtobeincurredforthetransactioncanbemeasuredreliably.TheGroup
determinesthestageofcompletionofatransactioninvolvingtherenderingofservicesbyusingtheproportionofservices
performedtodatetothetotalservicestobeperformed.Thetotalamountofrevenueearnedfromrenderingserviceare
determinedbasedontheamountreceivedorreceivableasstipulatedinthecontractoragreement,otherwisetheamountisnot
fair.。
（2）Confirm the assignment of the right to use assets
Interestincome
It should be measured based on the length of time for which the Group’s cash is used by others and the applicable effective
interestrate.
Rentalincome
Rentalincomefromoperatingleasesisrecognizedbythelesserintheincomestatementonastraight‐linebasisoverthelease
term.。
21、Governmentgrants
（1）type
Agovernmentgrantisrecognizedonlywhenthereisreasonableassurancethattheentitywillcomplywithanyconditions
attachedtothegrantandthegrantwillbereceived.Monetarygrantsareaccountedforatreceivedorreceivableamount.
（2）Accounting methods
Agovernmentgrantisrecognizedonlywhenthereisreasonableassurancethattheentitywillcomplywithanyconditions
attachedtothegrantandthegrantwillbereceived.Monetarygrantsareaccountedforatreceivedorreceivableamount.
Non‐monetarygrantsareaccountedforatfairvalue.Ifthereisnoreliablefairvalueavailable,thegrantsareaccountedforat
nominalamount.Agrantrelatingtoincome,whichascompensationforfuturecosts,isrecognizedasdeferredincomeinitially,
andasincomewhentherelatedcostincurs.Thegrantascompensationforcostsalreadyincurredshouldberecognizedasincome
forthecurrentperiod.Agrantrelatingtoassetsisrecognizedasdeferredincomeinitially,andasincomeevenlyamongtheuseful
lifeoftherelatedassets.Thegrantaccountedforatnominalamountisrecognizedasincomeforthecurrentperiod.。
22、Deferred income tax assets and deferred income tax liabilities
（1）The basis of a confirmed deferred income tax assets
Adeferredtaxassetisrecognizedfordeductibletemporarydifferences,carryforwardofunusedtaxcreditsandunusedtaxlosses,
totheextentthatitisprobablethattaxableprofitwillbeavailableagainstwhichthedeductibletemporarydifferences,andthe
carryforwardofunusedtaxcreditsandunusedtaxlossescanbeutilizedexcept:
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Chongqing Changan Automobile Company Limited Semi-annual Report 2013
(1) wherethedeferredtaxassetrelatingtothedeductibletemporarydifferencesarisesfromtheinitialrecognitionofanasset
or liability in a transaction that is not a business combination and, at the time of the transaction, affects neither the
accountingprofitnortaxableprofitorloss;and
(2) inrespectofdeductibletemporarydifferencesassociatedwithinvestmentsinsubsidiaries,associatesandinterestsinjoint
ventures,deferredtaxassetsareonlyrecognizedtotheextentthatitisprobablethatthetemporarydifferenceswill
reverseintheforeseeablefutureandtaxableprofitwillbeavailableagainstwhichthetemporarydifferencescanbeutilized。
（2）The basis of a confirmed deferred income tax liabilities
Adeferredtaxliabilityisrecognizedforalltaxabletemporarydifferences,except:
(1) to the extent that the deferred tax liability arises from the initial recognition of goodwill or the initial recognition of an
asset or liability in a transaction which contains both of the following characteristics: the transaction is not a business
combinationandatthetimeofthetransaction,itaffectsneithertheaccountingprofitnortaxableprofitorloss.
(2) inrespectoftaxabletemporarydifferencesassociatedwithinvestmentsinsubsidiaries,associatesandinterestsin
jointly‐controlledenterprises,wherethetimingofthereversalofthetemporarydifferencescanbecontrolledanditis
probablethatthetemporarydifferenceswillnotreverseintheforeseeablefuture
23、Operating lease and finance lease
TheGrouprecordingtheoperatingleaseasalessee
Lease payments under an operating lease are recognized by a lessee on a straight‐line basis over the lease term, and either
includedinthecostofanotherrelatedassetorchargedtotheincomestatementforthecurrentperiod.
TheGrouprecordingtheoperatingleaseasalessor
Rentalincomefromoperatingleasesisrecognizedbythelesserintheincomestatementonastraight‐linebasisoverthelease
term.
24、The main change in the accounting policies and accounting estimates
Accounting estimate change
ProgressITkindofdepreciationoffixedassetsforthecompanyanditsactualuselossmorematch,thecompanysinceJanuary29,
2013,thecompanywillbeclassifiedaspartoftheinstrumentinfixedassetsoftheITclassequipmentsingle‐row,accounting
depreciationperiodbytheoriginalbelongtoinstrumentationclass10yearsisadjustedforfiveyears,andotherprovisionsonthe
fixedassetsaccountinginthesame.Theaccountingestimatechangefutureapplicablemethodisusedtodealwith,noprevious
yearforretroactiveadjustment.
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Chongqing Changan Automobile Company Limited Semi-annual Report 2013
25、The other major accounting policies and accounting estimates and the method of preparation of
financial statements
The preparation of the Company's financial statements requires management to make judgments, estimates and assumptions
thataffectthereportedamountsofrevenues,expenses,assetsandliabilities,andthedisclosureofcontingentliabilities,atthe
balancesheetdate. However,uncertaintyabouttheseassumptionsandestimatescouldresultinoutcomesthatcouldrequirea
materialadjustmenttothecarryingamountsoftheassetsorliabilitiesaffectedinthefuture.
Judgments
IntheprocessofapplyingtheGroup’saccountingpolicies,managementhasmadethefollowingjudgmentswhichhavesignificant
effectonthefinancialstatements:
Operatingleases‐aslesser
TheGrouphasenteredintocommercialpropertyleasesonitsinvestmentpropertyportfolio.TheGrouphasdetermined,basedon
anevaluationofthetermsandconditionsofthearrangements,thatitretainsallthesignificantrisksandrewardsofownershipof
thesepropertieswhichareleasedoutonoperatingleases.
Uncertaintyofaccountingestimates
The crucial assumptions of significant accounting estimates in future and other crucial sources of estimated uncertainty, which
mayresultinthesignificantadjustmentstothebookvalueofthesubsequentaccountingperiod,areasthefollowing:
Impairmentofnon‐currentassetsotherthanfinancialassets(goodwillexcluded)
TheGroupassessesateachreportingdatewhetherthereisanindicationthatnon‐currentassetsotherthanfinancialassetsmay
beimpaired.Ifthereisanysignofpossibleassetsimpairment,theassetsconcernedshouldbesubjecttoimpairmenttest.When
thecarryingamountofanassetortherelevantassetsgroupexceedsitsrecoverableamountwhichisthehigheroneofthenet
amountofthefairvalueoftheassetminusthedisposalexpensesandthecurrentvalueoftheexpectedfuturecashflowofthe
asset,theassetisconsideredimpaired.Thefairvalueminusthedisposalexpensesisdeterminedbyreferencetotherecentmarket
transactionspriceorobservedmarketpricelessanydirectlyattributableexpenditurefordisposing.Whenmakinganestimateof
thepresentvalueofthefuturecashflowofanasset,theGroupshouldestimatethefuturecashflowsoftheassetortherelevant
assetsgroup,withtheappropriatediscountrateselectedtoreflectthepresentvalueofthefuturecashflows.。
TheGroupassessesateachreportingdatewhetherthereisanindicationthatnon‐currentassetsotherthanfinancialassetsmay
beimpaired.Ifthereisanysignofpossibleassetsimpairment,theassetsconcernedshouldbesubjecttoimpairmenttest.When
thecarryingamountofanassetortherelevantassetsgroupexceedsitsrecoverableamountwhichisthehigheroneofthenet
amountofthefairvalueoftheassetminusthedisposalexpensesandthecurrentvalueoftheexpectedfuturecashflowofthe
asset,theassetisconsideredimpaired.Thefairvalueminusthedisposalexpensesisdeterminedbyreferencetotherecentmarket
transactionspriceorobservedmarketpricelessanydirectlyattributableexpenditurefordisposing.Whenmakinganestimateof
thepresentvalueofthefuturecashflowofanasset,theGroupshouldestimatethefuturecashflowsoftheassetortherelevant
assetsgroup,withtheappropriatediscountrateselectedtoreflectthepresentvalueofthefuturecashflows.
Impairmentofavailable‐for‐sale
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Chongqing Changan Automobile Company Limited Semi-annual Report 2013
TheGroupclassifiescertainassetsasavailableforsaleandrecognisesmovementsoftheirfairvaluesinequity.Whenthefairvalue
declines,managementmakesassumptionsaboutthedeclineinvaluetodeterminewhethertereisanimpairmentthatshouldbe
recognizedintheincomestatement.
Goodwill impairment
The group at least a year to test whether goodwill impairment. This requires to allocate the goodwill of the asset group or
combination of group assets isthe present value of future cash flows.Present value of futurecash flow is expected, the group
needstobeestimatedinthefutureoftheassetgrouporcombinationofgroupassets,cashflowandchoosingtherightdiscount
ratetodeterminethepresentvalueoffuturecashflows。
Baddebtprovisions
Provisions are made under the allowance method. For each individually significant receivable, the impairment test should be
conducted individually. Where there is evidence that indicates impairment, the loss should be recognized with the respective
provisionaccrued,equalingtothedifferencebetweenthepresentvalueofthefuturecashflowsandthebookvalueofreceivables.
Forotherreceivablesconcerned,managementshouldaccruethegeneralprovisions,alongwiththereceivablesindividuallytested
whilenoimpairmentincurred,takinginaccountthecollectability
Developmentexpenditures
Whendeterminingthecapitalizationamount,managementshouldmakeassumptionssuchastheexpectedcashflowsoftheassets
related,theapplicablediscountrateandexpectedbenefitperiod.
Deferredtaxassets
The Group should recognize the deferred income tax assets arising from all the existing unutilized tax deficits and deductible
temporary differences to the extent of the amount of the taxable income which it is most likely to obtain and which can be
deductedfromthedeductibletemporarydifferences.Enormousaccountingjudgments,aswellasthetaxplanningarecompulsory
formanagementtoestimatethetimeandamountofprospectivetaxableprofitsandthusdeterminetheappropriateamountof
thedeferredtaxassetsconcerned.
Warranty
TheGroupprovideswarrantiesonautomobileandundertakestorepairorreplaceitemsthatfailtoperformsatisfactorilybasedon
certain pre‐determined conditions. Management estimates the related warranty claims based on historical warranty claim
informationincludinglevelofrepairsandreturnsaswellasrecenttrendsthatmightsuggestthatpastcostinformationmaydiffer
fromfutureclaims.FactorsthatcouldimpacttheestimatedclaiminformationincludethesuccessoftheGroup’squalitycontrols,
aswellaspartsandlabourcosts.Anyincreaseordecreaseintheprovisionwouldaffectprofitorlossinfutureyears.
Depreciationandamortization
TheGroup’smanagementdeterminestheestimatedusefullivesoffixedassetsandintangibleassets.Thisestimateisbasedonthe
historicalexperienceofactualusefullivesoffixedassetsandintangibleassetsofsimilarnatureandfunctions.Managementwill
increasethedepreciationandamortizationchargeswhereusefullivesarelessthanpreviouslyestimated。
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Chongqing Changan Automobile Company Limited Semi-annual Report 2013
五、Taxes
1、Themajorcategoriesoftaxesandsurcharges
Categoriesoftaxesandsurcharges Basisoftax Taxrate
Valueaddedtax(“VAT”) Theinvoicedvalueofsalesofgoodsandrendering
ofservices,andispayablebythepurchaser. The
GroupisrequiredtopaytheVATitcollectstothe 17%
taxauthority,butmaydeducttheVATithaspaid
oneligiblepurchases.
Consumptiontax Taxablesales 1%、3%or5
Businesstax Taxablesales 5%
Citymaintenanceandconstructiontax Theturnovertaxespaid 5%or7%
Corporateincometax Taxableincome 15%or25%
Educationalsurcharge Theturnovertaxespaid 3%
Localeducationalsurcharge Theturnovertaxespaid 2%
2、Taxbenefits
InaccordancetoCircularontheIssueofPreferentialTaxationPoliciesforWesternDevelopmentProgram(CaiShui[2001]No.202)
collectivelyissuedbytheMinistryofFinance,theNationalTaxationBureauandtheCustomsGeneralAdministrationofPRC,the
Company and Chongqing Changan Special Automobile Co., Ltd (the “Changan Special Sales”) are entitled to a preferential
enterpriseincometax(“EIT”)rateof15%in2010,astheCompanyandChanganSpecialSalesarequalifiedasadomesticenterprise
inencouragedindustries.InaccordancetoCircularforFurtherImplementationofTaxIncentivesIntheDevelopmentofWestern
Regions (Cai Shui [2011] No. 58) collectively issued by the ministry of Finance, the Customs General Administration and the
National Taxation Bureau of PRC, from 1 January 2011 to 31 December 2020, enterprises located in the Western Region in
encouragedbusinesswouldbeentitledtoapreferentialEITrateof15%.Theabove‐mentionedenterprisesencouragedindustries
shallsatisfytwocriteriaofenterpriseswhoseprincipalbusinessareinaccordancewithCatalogueofEncouragedIndustriesinthe
WesternRegion,andtherevenueshouldaccountformorethan70%ofthetotalrevenue.
Asat4November2011,inaccordancetoCircularoftheAdministrativeMeasuresfortheCertificationofNewandHighTechnology
Enterprises (GuoKeFaHuo[2008]No.172)andCircularoftheWorkingGuidanceontheRecognitionofHi‐techEnterprises(Guo
KeFaHuo[2008]No.362),thesubsidiaries,HebeiBaodingChanganBusCo.,LtdandHebeiChanganAutomobileCo.,Ltdwere
recognizedasHi‐techenterprises,effectiveforthreeyearsfromrecognitiondate.
六、Consolidationscope
1、Subsidiary
（1）Thesubsidiaryformedbyestablishorinvestment
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Chongqing Changan Automobile Company Limited Semi-annual Report 2013
Total Total
Registered Actual Theother proportionof proportion Consolid
Nameof RegisteredNatureof capital investment balanceof shareholders ofvoting atedor
Subsidiaries Typeofcompany place business (0,000) Scopeofbusiness (0,000) investment (%) rights(%) not
HebeiChangan Co.,Ltd. DingzhouManufact 46,469 Manufactureandselling 43,764 - 94.07 95.62 Yes
AutomobileCo.,Ltd ory carsandspareparts
ChongqingChangan Co.,Ltd. Chongqing Sales 1,376 Sellerandagentofimport 1,307 - 95.00 95.00 Yes
International /exportservicesof
AutomobileSales commoditiesand
Co.,Ltd techniques
ChongqingChangan Co.,Ltd. Chongqing Sales 4,850 Sellerofcarsandspare 4,850 - 100.00 100.00 Yes
AutomobileSales parts
Co.,Ltd
ChongqingChangan Co.,Ltd. Chongqing Sales 500 Sellerandrepairerof 250 - 50.00 50.00 Yes
SpecialAutomobile specialcarsandspare
salesCo.,Ltd(Note) parts
ChongqingChangan Co.,Ltd. Chongqing Sales 3,000 Sellerofcarsandspare 3,000 - 100.00 100.00 Yes
Automobile parts
supportingservice
Co.,Ltd.
ChongqingChangan Co.,Ltd. Chongqing R&D 2,900 Developer,Manufacturer 1,885 - 65.00 65.00 Yes
NewEnergy andsellerofnew‐energy
AutomobileCo.Ltd cars
ChongqingChangan Co.,Ltd. Turin,Italy R&D Theeuro Researchand 13,488 - 100.00 100.00 Yes
EuropeDesign 1460 developmentofvehicles
AcademyCo., Ltd.
BeijingChangan Co.,Ltd. Beijing R&D 10pounds Engineeringand 98 - 100.00 100.00 Yes
R&DCenterCo., technologyresearchand
Ltd. development
Harbin Changan Co.,Ltd. Habin R&D 100 Researchand 100 - 100.00 100.00 Yes
R&D Center Co., developmentofcarsand
Ltd. spareparts
Jiangxi Changan Co.,Ltd. Jingdezhen R&D 100 Researchand 100 - 100.00 100.00 Yes
R&D Center Co., developmentofcarsand
Ltd. spareparts
Shanghai Changan Co.,Ltd. Shanghai R&D 200 Researchand 200 - 100.00 100.00 Yes
R&D Center Co., developmentofcarsand
Ltd. spareparts
Changan United Co.,Ltd. Nottingha R&D 100 Engineprojectplanning, 100 - 100.00 100.00 Yes
Kingdom R&D m,United projectmanagement,
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Chongqing Changan Automobile Company Limited Semi-annual Report 2013
Center Co., Ltd. Kingdom feasibilitystudies,
preliminaryresearchand
othercutting‐edge
technology
Changan Japan Co.,Ltd. Yokohama, R&D 2000yen Engineprojectplanning, 139 - 100.00 100.00 Yes
Designing Center Japan projectmanagement,
Co.,Ltd. feasibilitystudies,
preliminaryresearchand
othercutting‐edge
technology
Changan United Co.,Ltd. Troy, R&D $20 Engineprojectplanning, 132 - 100.00 100.00 Yes
States R&D Center United projectmanagement,
Co., Ltd. states feasibilitystudies,
preliminaryresearchand
othercutting‐edge
technology
Note:TheremainingshareholdersofChongqingChanganSpecialAutomobilesalesCo.,Ltdmadeanagreementwiththe
CompanythattheremainingshareholdersaretovoteinaccordancewiththeCompany.Themainfinancialandoperatingpolicies
havebeendeterminedbytheCompany,soitisincludedinthescopeofconsolidatedfinancialstatements.。
（2）Thesubsidiaryformedbybusinesscombinationundercommoncontrol
Total Total
Registered Actual Theotherproportionofproportion
Name of Registered Natureof capital investment balanceof shareholders ofvotingConsolidated
Subsidiaries Typeofcompany place business (0,000) Scopeofbusiness (0,000) investment (%) rights(%) ornot
Chongqing Co.,Ltd PRC Sales 850 Sellerofcarsand 850 ‐ 100 100 Yes
Changan spareparts
Automobile sales
subsidiaries
Hebei Baoding Co.,Ltd PRCManufacturer 3,000 Manufactureand 20,271 ‐ 100 100 Yes
Changan Bus Co., sellingcars,trucks,
Ltd vans,electric
vehicles,special
vehicles,spareparts,
moldsand
non‐standard
machineries
72
Chongqing Changan Automobile Company Limited Semi-annual Report 2013
（3）Thesubsidiaryformedbybusinesscombinationnotundercommoncontrol
Total
proporti
Total onof
Nature Registered Actual Theother proportionof voting Consolid
Registered of capital investment balanceof shareholders rights atedor
NameofSubsidiaries Typeofcompany place business (0,000) Scopeofbusiness (0,000) investment (%) (%) not
Nanjing Changan Co.,Ltd Nanjing Manufac 60,181 Manufactureand 41,689 ‐ 83.39 91.53 Yes
AutomobileCo.,Ltd. turer sellingcarsandspare
parts
Thedifferencebetweenproportionofvotingsharesandproportionofsharesheldisduetothevotingrightconsignedfrom
minorityshareholders。
3、Mergescopechange
□ available √ non-available
VII、Notestotheconsolidatedfinancialstatements
1、Cash and cash equivalents
Ending Beginning
item Original Exchange Equivalent to Original Exchange
Equivalent to RMB
currency rate RMB currency rate
Cash -- -- 4,008.51 -- -- 32,745.00
RMB -- -- 4,008.51 -- -- 32,745.00
Cash at bank -- -- 5,877,189,179.56 -- -- 3,585,462,267.22
RMB -- -- 5,829,759,091.22 -- -- 3,566,104,895.00
Other cash -- -- 1,021,438,962.28 -- -- 614,268,903.60
RMB -- -- 1,021,438,962.28 -- -- 614,268,903.60
Total -- -- 6,898,632,150.35 -- -- 4,199,763,915.82
2、Financialassetsheldfortrading
Category Ending Beginning
Derivative financial assets 332,407.00
Total 0.00 332,407.00
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Chongqing Changan Automobile Company Limited Semi-annual Report 2013
3、Notesreceivable
（1）Classification of notes receivable
Type Ending Beginning
Commercialacceptancebill 3,255,875,033.00 2,992,911,242.00
Bankacceptancebill 5,768,739,095.43 6,371,429,730.00
Total 9,024,614,128.43 9,364,340,972.00
（2）The final notes receivable has pledged
item IssuingDate ExpirationDate Amount Note
Chengdu wang economic
and technology
25March2013 25 August2013 14,000,000.00
development corporation
Wuzhou auto trade group
23January2013 23July2013 9,000,000.00
co., LTD
Wuzhou auto trade group
23January2013 23July2013 9,000,000.00
co., LTD
Zhengzhou new era
20March2013 20September2013 9,000,000.00
automobile sales co., LTD
Zhejiang auspicious
4June2013 4October2013 8,850,000.00
automobile co., LTD
Total -- -- 49,850,000.00 --
receivable that endorsed unexpired
item IssuingDate ExpirationDate Amount Note
Nanjing changan
15March2013 15 September 2013 50,000,000.00
automobile co., LTD
Wang auto
16May2013 25 September2013 25,000,000.00
investment co., LTD
Nanjing changan
9June2013 28November2013 20,000,000.00
automobile co., LTD
Nanjing changan
28may2013 28November2013 20,000,000.00
automobile co., LTD
Nanjing changan
9 June2013 28November2013 20,000,000.00
automobile co., LTD
74
Chongqing Changan Automobile Company Limited Semi-annual Report 2013
total -- -- 135,000,000.00 --
4、Dividendsreceivable
Aging Beginning Addition Deduction Ending
Within1year 27,013,203.42 27,013,203.42 0.00
Over1year 450,030.00 450,030.00 0.00
Total 450,030.00 27,013,203.42 27,463,233.42 0.00
5、Accountsreceivable
（1）An analysis of the accounts receivable by category as at the end of the reporting period is as
follows
Ending Beginning
item Balance Provision Balance Provision
Amount % Amount % Amount % Amount %
Individuallysignificantitems
191,692,21 72,218,07
andanalyzedindividuallyfor 23.44% 14.48%
1.35 3.18
provision
Accountsreceivableanalyzedasgroupsforprovision
Group1.Accountsreceivable
432,707,77 41,949,430. 247,182,8 41,618,088.0
analyzedforprovision 52.90% 9.69% 49.57% 16.84%
4.45 33 92.51 4
accordingtoaginganalysis
Group2.Accountsreceivable 174,911,60 160,601,4
21.38% 0.00 0% 32.21%
fromrelatedparties 8.74 42.93
Groupsubtotal 607,619,38 41,949,430. 407,784,3 41,618,088.0
74.29% 6.9% 81.78% 10.21%
3.19 33 35.44 4
Individuallyinsignificant
18,630,503. 18,630,503. 18,630,50 18,630,503.5
itemsbutanalyzed 2.28% 100% 3.74% 100%
54 54 3.54 4
individuallyforprovision
Total 817,942,09 60,579,933. 498,632,9 60,248,591.5
-- -- -- --
8.08 87 12.16 8
Withingroups,accountsreceivableanalyzedforprovisionaccordingtoaginganalysis
Ending Beginning
Aging Balance Balance
Provision Provision
Amount % Amount %
Within1year
75
Chongqing Changan Automobile Company Limited Semi-annual Report 2013
-- -- -- -- -- --
Within6months 339,655,508.97 78.5% 0.00 156,497,255.65 63.31%
6to12months 14,637,121.85 3.38% 2,130,309.79 25,524,892.86 10.33% 1,276,244.64
Within1yearsubtotal 354,292,630.82 81.88% 2,130,309.79 182,022,148.51 73.64% 1,276,244.64
1to2years 14,458,416.03 3.34% 66,620.08 13,791,608.60 5.58% 1,379,156.41
2to3years 26,334,386.92 6.09% 4,197,840.55 16,976,395.28 6.87% 5,091,118.59
3to4years 4,135,361.56 0.96% 2,067,680.78 905,761.00 0.37% 452,880.50
4to5years 0.00 0% 0.00 341,456.08 0.14% 273,164.86
Over5years 33,486,979.12 7.74% 33,486,979.12 33,145,523.04 13.4% 33,145,523.04
Total 432,707,774.45 -- 41,949,430.33 247,182,892.51 -- 41,618,088.04
individuallyinsignificantitemsbutanalyzedindividuallyforprovision
Detailsofaccounts Balance Provision ProvisionPercentage Reasonforprovision
receivable
Losscontactwithcustomer
Sales vehicle for Pakistan 7,719,759.43 7,719,759.43 100%
andunlikelytoberecover
Thecustomercloseto
Selling vehicles in South
6,119,941.70 6,119,941.70 100% bankruptcyandunlikelyto
Africa
berecover
Thecustomercloseto
Vehicle sales Sri Lanka 515,739.59 515,739.59 100% bankruptcyandunlikelyto
berecover
Sales in South Africa Thecustomerbrokeits
FRIEDSHELF 1100 capitalchainduetothecivil
(PROPRIETARY) the 3,759,257.20 3,759,257.20 100% unrestandunlikelytobe
LIMITED company recover
payment for goods
Fullprovisionforsmall
Rest 515,805.62 515,805.62 100% amountreceivableswhich
hasalongaging
Total 18,630,503.54 18,630,503.54 -- --
（2）Topfivedebtorsofaccountsreceivableareasfollows
Proportionoftotalaccounts
Debtors RelationshipwiththeGroup Amount Aging
receivable(%)
A.Q. Non‐related 107,390,748.96 Within3months 13.13%
Chengdu wang economic Controlledbythesame
64,791,811.45 Withinhalfayear 7.92%
and technology ultimateholdingcompany
76
Chongqing Changan Automobile Company Limited Semi-annual Report 2013
development corporation
Chinachangansubordinate
Hafei Automobile Co.,
enterprises 42,655,287.99 Within3years 5.21%
Ltd.
Guizhou wang
Controlledbythesame
automobile sales and 39,630,985.66 Withinhalfayear 4.85%
ultimateholdingcompany
service co., LTD
Beijing city changfeng
Non‐related 36,242,840.60 Withinhalfayear 4.43%
trade co., LTD
Total -- 290,711,674.66 -- 35.54%
（3）accountsreceivablefromrelatedpartiesisasfollows
Proportionoftotalaccounts
Debtors RelationshipwiththeGroup Amount
receivable(%)
Chengduwangeconomicand Controlledbythesameultimate
technologydevelopment holdingcompany 64,791,811.45 7.92%
corporation
Chinachangansubordinate
Hafeiautomobileco.,LTD enterprises 42,655,287.99 5.21%
Changanfordmotorco.,LTD Jointventure 35,430,203.79 4.33%
ChongqingChanganSuzuki Jointventure
AutomobileCo.,Ltd 8,418,567.14 1.03%
ChongqingChanganKuayue
Associate 7,412,370.00 0.91%
AutomobileCo.,Ltd
JianglingHoldingCo.,Ltd Jointventure 4,813,814.08 0.59%
ChanganIndustriesGroupCo., Controlledbythesameultimate
4,018,863.97 0.49%
Ltd holdingcompany
Lufengfactoryjianglingholding
Jointventure 3,062,280.32 0.37%
co.,LTD
ChongqingAnfuAutomobile Controlledbythesameparent
3,908,410.00 0.48%
salesCo.,Ltd company
ChanganfordMazdaengineco.,
Jointventure 400,000.00 0.05%
LTD
Total -- 174,911,608.74 21.38%
77
Chongqing Changan Automobile Company Limited Semi-annual Report 2013
6、Otherreceivables
（1）Ananalysisoftheotherreceivablesbycategoryasattheendofreportingperiodisasfollows
Ending Beginning
Item Balance Provision Balance Provision
Amount % Amount % Amount % Amount %
Individuallysignificant
itemsandanalyzed 76,974,000.00 27.83% 24,199,000.00 31.44% 96,641,000.00 57.51% 24,199,000.00 25.04%
individuallyforprovision
Otherreceivablesanalyzedasgroupsforprovision
Otherreceivablesanalyzed
forprovisionaccordingto 180,505,105.85 65.27% 2,780,941.23 1.54% 64,174,918.08 38.2% 2,753,728.68 4.29%
aginganalysis
Groupsubtotal 180,505,105.85 65.27% 2,780,941.23 1.54% 64,174,918.08 38.2% 2,753,728.68 4.29%
individuallyinsignificant
itemsbutanalyzed 19,074,289.86 6.90% 7,225,076.35 37.88% 7,212,226.65 4.29% 7,212,226.65 100%
individuallyforprovision
Total 276,553,395.71 -- 34,205,017.58 -- 168,028,144.73 -- 34,164,955.33 --
Withingroups,otherreceivablesanalyzedforprovisionaccordingtoaginganalysis
Ending Beginning
Aging Balance Balance
Provision Provision
Amount % Amount %
Within1 year
Within6months 165,483,990.01 91.68% 0.00 56,272,280.78 87.68% 0.00
6to12months 6,599,582.73 3.66% 262,198.89 1,806,536.51 2.82% 90,326.83
Within1yearsubtotal 172,083,572.74 95.34% 262,198.89 58,078,817.29 90.5% 90,326.83
1to2years 3,315,050.44 1.84% 331,505.04 3,006,453.01 4.68% 300,645.30
2to3years 1,377,892.01 0.76% 370,893.30 1,026,684.00 1.6% 308,005.20
3to4years 205,937.80 0.11% 65,500.00 10,000.00 0.02% 5,000.00
4to5years 0.00 0% 0.00 16,062.13 0.03% 12,849.70
Over5years 3,522,652.86 1.95% 1,750,844.00 2,036,901.65 3.17% 2,036,901.65
Total 180,505,105.85 -- 2,780,941.23 64,174,918.08 -- 2,753,728.68
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Chongqing Changan Automobile Company Limited Semi-annual Report 2013
（2）Topfivedebtorsofotherreceivablesareasfollows
Proportionoftotalother
RelationshipwiththeGroup Amount Aging RelationshipwiththeGroup
receivables(%)
Chongqing's sharp
transportation service Non-related 30,000,000.00 Within half a year 12.38%
co., LTD
Nanjing nebula-rich
complex of real estate Non-related 24,199,000.00 Over 3 years 9.99%
brokerage co., LTD
Marketing Shi Qian Non-related 20,864,640.00 Within half a year 8.61%
The export tax rebate
Non-related 16,417,383.85 Within 6 months 6.77%
division
Accounts receivable
Non-related 12,478,557.23 Within 6 months 5.15%
export tax refunds
Total -- 103,959,581.08 -- 42.9%
7、Prepayments
(1) An aged analysis of the prepayments is as follows:
Ending Beginning
Aging
Amount Percentage (%) Amount Percentage (%)
Within 1 year 420,410,219.32 97.81% 490,444,508.86 98.28%
1 to 2 years 8,769,705.71 2.04% 6,328,709.88 1.27%
2 to 3 years 640,059.89 0.15% 2,252,579.73 0.45%
Over 3 years 16,843.22
Total 429,819,984.92 -- 499,042,641.69 --
(2) Top five debtors of prepayments are as follows:
Relationship with Reason for outstanding
Debtors Amount Aging
the Group
The company
Chongqing baosteel automobile
suppliers 141,344,515.34 Within 1 year Goods not received
steel parts co., LTD
The company
Chongqing treasure well steel
suppliers 128,189,261.21 Within 1 year Goods not received
processing and distribution co., LTD
The company
Beijing baosteel northern trade co.,
suppliers 61,632,236.89 Within 6 months Goods not received
LTD
Japanese Aisin company The company 38,347,450.57 Within 1 year Goods not received
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Chongqing Changan Automobile Company Limited Semi-annual Report 2013
suppliers
The company
German kamax werke suppliers 25,912,386.07 Within 3years Goods not received
Total -- 395,425,850.08 -- --
8、Inventory
(1) Classificationofinventory
Ending Beginning
Item
Balance Provision Net value Balance Provision Net value
Raw materials 456,508,279.99 85,651,412.44 370,856,867.55 509,589,189.38 87,017,455.98 422,571,733.40
Work in progress 555,718,693.48 16,345,168.31 539,373,525.17 633,715,476.24 5,464,558.32 628,250,917.92
Commodity stock 4,797,641,796.60 29,595,163.87 4,768,046,632.73 3,665,388,086.52 89,474,105.21 3,575,913,981.31
revolving material 5,842,094.21 5,842,094.21 5,705,591.46 5,705,591.46
consumptive
142,870,616.32 142,870,616.32 138,420,956.81 138,420,956.81
biological assets
Spare parts 30,612.82 30,612.82 5,376,625.21 5,376,625.21
Material in transit 55,693,357.21 55,693,357.21 134,790,174.55 134,790,174.55
Total 6,014,305,450.63 131,591,744.62 5,882,713,706.01 5,092,986,100.17 181,956,119.51 4,911,029,980.66
(2) Provisionforinventory
Type Beginning Provision Deduction Ending
Reversal Write‐off
Rawmaterials 87,017,455.98 1,366,043.55 85,651,412.44
Workinprogress 5,464,558.32 16,312,763.82 5,432,153.83 16,345,168.31
Commoditystock 89,474,105.21 15,654,299.37 34,165.55 75,499,075.15 29,595,163.87
Total 181,956,119.51 31,967,063.19 1,400,209.10 80,931,228.98 131,591,744.62
9、Othercurrentassets
Item Ending Beginning
Accrualinputtax 4,748,101.12
Others 31,550.73 26,618.00
Total 31,550.73 4,774,719.12
10、Available‐for‐salefinancialassets
Item Ending Beginning
Available‐for‐saleequitysecurites 201,772,020.00 233,814,100.00
80
Chongqing Changan Automobile Company Limited Semi-annual Report 2013
Total 201,772,020.00 233,814,100.00
The available‐for‐sale equity securites are the 17.75 million shares of Southwest Securities Co., Ltd and 7.28 million shares of
HuaXiaBankholdingbytheGroup.
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Chongqing Changan Automobile Company Limited Semi-annual Report 2013
11、Investmentinjointventuresandassociates
Shareholding
Investee percentage Voting Total liabilities at Total net assets at Total operating
(%) percentage (%) Total assets at end end end income Total net profits
I. Joint ventures
Chongqing Changan Suzuki Automobile
51% 51% 5,673,254,900.42 2,963,221,605.36 2,710,033,295.07 4,284,965,136.18 -19,551,576.42
Co., Ltd
Jiangling Holding Co., Ltd 50% 50% 6,406,379,221.39 2,657,627,212.74 3,748,752,008.65 1,014,610,854.01 315,363,606.76
Changan Ford Automobile Co., Ltd (note)
（former name: Changan Ford Mazda 50% 50% 26,295,975,559.27 20,906,504,735.34 5,389,470,823.93 34,963,859,840.09 3,168,198,830.05
Automobile Co., Ltd ）
Changan Mazda Automobile Co., Ltd
50% 50% 4,910,705,086.85 2,655,376,590.76 2,255,328,496.09 2,497,820,950.11 22,988,529.79
(note)
Changan Ford Mazda Engine Co., Ltd 50% 50% 2,960,033,757.35 1,923,247,543.41 1,036,786,213.94 1,507,724,100.72 73,331,194.37
II. Associates
Chongqing Xiyi Automobile Linkage Rod
40% 40% 36,599,533.59 14,384,861.79 22,214,671.80 25,705,662.38 1,418,483.13
Co., Ltd
Chongqing Changan Kuayue Automobile
34.3% 34.3% 942,113,124.72 804,118,528.22 137,994,596.50 839,565,657.20 -6,374,345.16
Co., Ltd
Chongqing Changan Kuayue Automobile
34.3% 34.3% 143,152,449.80 216,222,410.52 -73,069,960.72 768,225,751.60 7,356,875.70
Sales Co., Ltd
Beijing Fang’an Taxi Co., Ltd 42.25% 42.25% 31,013,317.46 25,066,435.45 5,946,882.01 1,631,920.00 -3,424,881.94
12、Long‐termequityinvestment
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Chongqing Changan Automobile Company Limited Semi-annual Report 2013
Explanation for
the difference
between
Shareholdi shareholding
ng Voting percentage and
Accounting Addition/ percentage percentage voting Impair Current Current cash
Investee method Initial amount Beginning (deduction) Ending (%) (%) percentage ment provision dividends
Joint ventures
Chongqing Changan Suzuki 239,905,266.0
1,421,953,088.21 -10,689,200.00 1,411,263,888.21 51% 51% N/A
Automobile Co., Ltd 0
Jiangling Holding Co., Ltd 1,000,000,000.
1,706,722,325.52 155,842,970.801,862,565,296.32 50% 50% N/A
00
Changan Ford Automobile Co.,
Ltd （former name: Changan 951,589,136.2
2,677,677,911.23 -15,369,438.142,662,308,473.09 50% 50% N/A 1,600,000,000.00
Ford Mazda Automobile Co., 9
Ltd）
Changan Mazda Automobile 1,097,839,635.
1,115,310,608.80 10,900,338.981,126,210,947.78 50% 50% N/A
Co., Ltd 00
Changan Ford Mazda Engine 786,734,634.1
475,236,298.82 36,665,597.19 511,901,896.01 50% 50% N/A
Co., Ltd 0
Associates
Chongqing HelpGo Information
4,500,000.00 10,316,211.80 -10,316,211.80 0.00 N/A
Technology Co., Ltd
Chongqing Xiyi Automobile
6,714,720.64 8,415,002.53 567,393.25 8,982,395.78 40% 40% N/A
Linkage Rod Co., Ltd
Chongqing Changan Kuayue 61,800,885.00 63,870,734.11 -288,924.39 63,581,809.72 34.3% 34.3% N/A
83
Chongqing Changan Automobile Company Limited Semi-annual Report 2013
Automobile Co., Ltd
Chongqing Changan Kuayue
1.00 0.00 34.3% 34.3% N/A
Automobile Sales Co., Ltd
Beijing Fangan Taxi LLC 6,000,000.00 6,000,000.00 -3,486,942.35 2,513,057.65 42.25% 42.25% N/A
Other
China South Industry Group
80,000,000.00 80,000,000.00 80,000,000.00 5.33% 5.33% N/A
Finance Co., Ltd 23,413,203.42
Chongqing Ante Import and
3,000,000.00 3,000,000.00 3,000,000.00 10% 10% N/A
Export Co., Ltd 3,600,000.00
Sichuan Glass Co., Ltd 1,809,274.00 1,809,274.00 1,809,274.00 0.64% 0.64% N/A
Zhong Fa Lian Investment Co.,
21,000,000.00 21,000,000.00 21,000,000.00 10% 10% N/A
Ltd
CAERI(Beijing) automotive
Lightweight Technology 3,000,000.00 3,000,000.00 3,000,000.00 6.89% 6.89% N/A
Research Institution Co., Ltd
4,263,893,552.
Total -- 7,594,311,455.02 163,825,583.547,758,137,038.56 -- -- -- 1,627,013,203.42
03
84
Chongqing Changan Automobile Company Limited Semi-annual Report 2013
13、Investmentproperty
According to the cost of the investment real estate
Item Beginning Addition Deduction Ending
I. Original cost 1,461,121.65 1,461,121.65
Buildings 1,461,121.65 1,461,121.65
II. Accumulated depreciation and
379,556.14 37,649.04 417,205.18
amortization
Buildings 379,556.14 37,649.04 417,205.18
III. Net Value 1,081,565.51 -37,649.04 1,043,916.47
Buildings 1,081,565.51 -37,649.04 1,043,916.47
IV. Impairment Provision 1,081,565.51 -37,649.04 1,043,916.47
Buildings 1,081,565.51 -37,649.04 1,043,916.47
current period
Current depreciation and amortization of the forehead 37,649.04
14、Fixedassets
Item Beginning Addition Deduction Ending
I.Originalcost 16,258,099,971.47 942,565,419.81 227,249,501.73 16,973,415,889.55
Buildings 4,286,333,649.59 22,211,342.67 511,612.94 4,308,033,379.32
Machinery 8,976,657,582.81 649,783,859.74 223,279,844.51 9,403,161,598.04
Vehicles 85,639,239.66 9,749,284.22 3,288,795.08 92,099,728.80
OtherEquipments 2,909,469,499.41 260,820,933.18 169,249.20 3,170,121,183.39
-- Beginning Addition provision Deduction Ending
II.Accumulateddepreciation 4,226,045,092.87 725,448,416.53 20,748,961.35 4,930,744,548.05
Buildings 523,214,966.12 76,356,812.35 0.00 599,571,778.47
Machinery 2,700,569,268.32 479,270,817.85 18,792,988.59 3,161,047,097.58
Vehicles 34,536,471.47 6,881,768.75 1,801,964.24 39,616,275.98
OtherEquipments 967,724,386.96 162,939,017.58 154,008.52 1,130,509,396.02
-- Beginning -- Ending
III.NetValue 12,032,054,878.60 -- 12,042,671,341.50
Buildings 3,763,118,683.47 -- 3,708,461,600.85
Machinery 6,276,088,314.49 -- 6,242,114,500.46
Vehicles 51,102,768.19 -- 52,483,452.82
OtherEquipments 1,941,745,112.45 -- 2,039,611,787.37
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Chongqing Changan Automobile Company Limited Semi-annual Report 2013
IV.ImpairmentProvision 404,986,769.82 -- 342,450,627.35
Buildings 392,456,946.40 -- 329,920,803.93
Machinery --
Vehicles 12,529,823.42 -- 12,529,823.42
OtherEquipments --
V.BookValue 11,627,068,108.78 -- 11,700,220,714.15
Buildings 3,763,118,683.47 -- 3,708,461,600.85
Machinery 5,883,631,368.09 -- 5,912,193,696.53
Vehicles 51,102,768.19 -- 52,483,452.82
OtherEquipments 1,929,215,289.03 -- 2,027,081,963.95
This725448416.53yuandepreciation;Thisperiodbytheconstructionprojecttofixedassetpriceis908428978$index.
15、Constructioninprogress
（1）Details of construction in progress
closing balance openning balance
Item
Balance Provision Bookvalue Balance Provision Bookvalue
Mini‐busproductionequipment 12,476,161.68 12,476,161.68 5,351,731.68 5,351,731.68
Yuzuimotorcityproject 67,404,153.71 67,404,153.71 44,396,939.00 44,396,939.00
Changanindustrialgardenproject 689,977.09 689,977.09 8,980,021.25 8,980,021.25
Sedanproductionequipment 33,541,719.16 33,541,719.16 48,529,810.27 48,529,810.27
Engineproduction 1,356,956,576.
362,135,801.63 362,135,801.63 1,356,956,576.22
22
Vehicleresearchinstitution 104,645,828.69 104,645,828.69 133,651,791.31 133,651,791.31
Carmoulds 244,079,167.09 244,079,167.09 226,624,484.08 226,624,484.08
Hebei M201 bus production plant
26,519,362.03 26,519,362.03 36,064,353.60 36,064,353.60
project
Plantforvehicletestproject 859,674,949.10 859,674,949.10 688,512,568.10 688,512,568.10
Beijingvehicleconstructionproject 61,505,357.41 61,505,357.41 26,246,205.34 26,246,205.34
Others 1,154,983,453. 1,154,983,453.
230,014,405.21 230,014,405.21
62 62
2,927,655,931. 2,927,655,931. 2,805,328,886.
Total 2,805,328,886.06
21 21 06
（2）Significantmovementsofconstructioninprogress
Project Budget openning Addition Transfer to Other closing balance
86
Chongqing Changan Automobile Company Limited Semi-annual Report 2013
(RMB0,000) balance fixed assets deduction
Mini-bus
production 99,270.00 5,351,731.68
equipment 24,671,439.01 17,547,009.01 12,476,161.68
Yuzui motor city
157,735.00 44,396,939.00
project 27,886,453.32 4,879,238.61 67,404,153.71
Changan
industrial garden 149,031.00 8,980,021.25
project 5,299.15 8,295,343.31 689,977.09
Sedan production
81,671.00 48,529,810.27
equipment 57,441,776.79 72,429,867.90 33,541,719.16
Engine production 422,611.20 1,356,956,576.22 268,437,102.94 522,399,661.32 1,102,994,017.84
Vehicle research
71,400.00 133,651,791.31
institution 26,292,687.92 13,832,484.33 5,219,252.56 140,892,742.34
Car moulds 63,501.54 226,624,484.08 110,567,343.86 93,112,660.85 244,079,167.09
Hebei M201 bus
production plant 26,811.97 36,064,353.60 11,911,794.34 21,456,785.91 26,519,362.03
project
Plant for vehicle
131,492.00 688,512,568.10 171,256,175.87 93,794.87 859,674,949.10
test project
Beijing vehicle
construction 191,943.00 26,246,205.34 166,036,150.97 127,754,932.09 3,022,066.81 61,505,357.41
project
Others 230,014,405.21 174,612,661.74 26,627,200.45 121,542.74 377,878,323.76
Total 1,393,974.71 2,805,328,886.06 1,039,118,885.91 908,428,978.65 8,362,862.11 2,927,655,931.21
16、Constructionmaterials
Item Beginning Addition Deduction Ending
Specificmaterials 795,898.75 795,898.75
Total 795,898.75 795,898.75
17、liquidationoffixedassets
Item Beginning Ending reason
Equipment transfer, the
machinery equipment 2,485,714.76 5,116,970.70
price is not coming
office equipment 3,037.19
transporting equipment 5,659.34
Total 2,485,714.76 5,125,667.23 --
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Chongqing Changan Automobile Company Limited Semi-annual Report 2013
18、Intangibleassets
（1）Details of intangible assets
Item Beginning Addition Deduction Ending
I.Originalcost 2,805,844,487.97 131,217,663.94 0.00 2,937,062,151.91
Landuserights 1,306,396,390.02 20,942,566.80 1,327,338,956.82
Softwareuserights 188,173,048.93 3,162,999.86 191,336,048.79
Trademarkuserights 211,784,400.00 0.00 211,784,400.00
Non‐patenttechnology 1,099,490,649.02 107,112,097.28 1,206,602,746.30
II.Accumulatedamortization 656,863,294.33 157,157,448.99 0.00 814,020,743.32
Landuserights 86,198,348.38 14,219,791.74 100,418,140.12
Softwareuserights 146,627,088.97 20,167,458.94 166,794,547.91
Trademarkuserights 60,012,611.01 9,977,346.66 69,989,957.67
Non‐patenttechnology 364,025,245.97 112,792,851.65 476,818,097.62
III.NetValue 2,148,981,193.64 -25,939,785.05 2,123,041,408.59
Landuserights 1,220,198,041.64 6,722,775.06 1,226,920,816.70
Softwareuserights 41,545,959.96 -17,004,459.08 24,541,500.88
Trademarkuserights 151,771,788.99 -9,977,346.66 141,794,442.33
Non‐patenttechnology 735,465,403.05 -5,680,754.37 729,784,648.68
IV.ImpairmentProvision 15,826,515.83 38,037,153.88 0.00 53,863,669.71
Landuserights 6,700,000.00 0.00 6,700,000.00
Softwareuserights 0.00 0.00 0.00
Trademarkuserights 0.00 0.00 0.00
Non‐patenttechnology 9,126,515.83 38,037,153.88 47,163,669.71
V.BookValue 2,133,154,677.81 -63,976,938.93 0.00 2,069,177,738.88
Landuserights 1,213,498,041.64 6,722,775.06 1,220,220,816.70
Softwareuserights 41,545,959.96 -17,004,459.08 24,541,500.88
Trademarkuserights 151,771,788.99 -9,977,346.66 141,794,442.33
Non‐patenttechnology 726,338,887.22 -43,717,908.25 682,620,978.97
（2）Developmentexpenditure
Deduction Ending
Item Beginning Addition Chargedtoincome Chargedtoincome
Statementofthe Statementofthe
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Chongqing Changan Automobile Company Limited Semi-annual Report 2013
Currentperiod Currentperiod
Automobile
373,059,730.66 431,901,094.69
Development 200,203,329.08 34,249,867.77 107,112,097.28
Total 373,059,730.66 200,203,329.08 34,249,867.77 107,112,097.28 431,901,094.69
19、Goodwill
Addition Deduction Impairment
Investee Beginning Ending
provision
HebeiChanganAutomobileCo.,Ltd 9,804,394.00 9,804,394.00
Nanjing Changan Automobile Co.,
73,465,335.00 73,465,335.00 73,465,335.00
Ltd
Total 83,269,729.00 83,269,729.00 73,465,335.00
20、Long‐termdeferredexpenses
Item Beginning Addition amortization Amortization Ending reason
GaobaoLake
720,320.00 90,040.00 630,280.00
ReservirGreening
Write-downs
Clampmold 26,194,496.62 3,640,402.95 1,719,944.27 20,834,149.40 accrued to give
more
Others 1,334,844.45 220,587.79 1,114,256.66
Total 2,055,164.45 26,194,496.62 3,951,030.74 1,719,944.27 22,578,686.06 --
21、Deferredtaxassetsandliabilities
Deferredtaxassetsandliabilitiesarelistedseparately.
(1) Recognizeddeferredtaxassetsandliabilities:
Item Ending Beginning
Deferredtaxassets
Provisionfortheimpairmentofassets 72,333,958.10 89,752,749.14
Accruedexpensesandcontingentliabilities 367,669,185.90 283,175,938.14
Unpaid tech development expense and advertisement
28,011,826.73 32,703,826.49
expense
Deferredincome 341,420,915.45 350,416,972.76
Unpaidsalaryandbonusandothers 71,468,377.95 103,217,699.67
Subtotal 880,904,264.13 859,267,186.20
Deferredtaxliabilities
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Chongqing Changan Automobile Company Limited Semi-annual Report 2013
Available‐for‐salefinancialassetsonthechangesinfair
33,403,665.51 37,741,632.06
value
Subtotal 33,403,665.51 37,741,632.06
22、Provisionfortheimpairmentofassets
Deduction Ending
Item Beginning Addition
Reversal Write‐off
I.Baddebtprovision 94,413,546.91 371,404.54 94,784,951.45
II.Provisionforobsolete
181,956,119.51 31,967,063.19 1,400,209.10 80,931,228.98 131,591,744.62
inventory
III.Provisionfortheimpairment
404,986,769.82 54,456,092.49 116,992,234.96 342,450,627.35
offixedassets
IV.Provisionfortheimpairment
15,826,515.83 38,037,153.88 53,863,669.71
ofintangibleassets
V.Provisionfortheimpairment
73,465,335.00 73,465,335.00
ofgoodwill
Total 770,648,287.07 124,831,714.10 1,400,209.10 197,923,463.94 696,156,328.13
23、Othernon‐currentassets
Item Ending Beginning
Prepaymentofland(Note1) 234,267,075.62 220,380,024.00
Prepaymentofequityinvestment(Note2) 703,015,710.00 703,015,710.00
Total 937,282,785.62 923,395,734.00
Note1:Theprepaymentoflandispaidtoacquirethelanduserightof1214mulocatedinChongqingLiangjiangNewAreaYuzui
motorcity.
Note2:Asat26December2012,theCompanysignedanagreementwiththeparentcompanyChinaChangantopurchasethe50%
equity interest of Changan PSA automobiles co.,Ltd with total price of RMB 2,007,424,600.00. As at 26 December 2012, the
CompanyhasprepaidRMB703,015,710.00.
24、Short‐termloans
Item Ending Beginning
Pledgeloans 60,000,000.00
Creditloans 250,000,000.00 1,190,000,000.00
Total 250,000,000.00 1,250,000,000.00
25、Notespayable
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Chongqing Changan Automobile Company Limited Semi-annual Report 2013
Item Ending Beginning
Commercialacceptancebill 0.00 297,776,543.00
Bankacceptancebill 11,297,443,494.30 7,511,221,549.99
Total 11,297,443,494.30 7,808,998,092.99
26、Accountspayable
（1）Accountspayable
Item Ending Beginning
Accountspayable 7,690,482,181.03 7,201,763,448.62
total 7,690,482,181.03 7,201,763,448.62
27、Advancesfromcustomers
Item Ending Beginning
Advancesfromcustomers 4,115,927,223.43 4,251,355,201.70
total 4,115,927,223.43 4,251,355,201.70
28、Payrollpayable
Item Beginning Addition Deduction Ending
I.Salary,bonus,
allowanceand 283,423,266.58 991,561,355.76 1,010,816,059.79 264,168,562.55
subsidy
II.Employeebenefit 285,124.58 51,343,742.19 51,169,555.56 459,311.21
III.Socialinsurance 62,160,908.55 170,106,168.07 47,473,912.37 184,793,164.25
IV.Housing
76,541,750.36 89,651,420.60 163,531,424.36 2,661,746.60
accumulationfund
V.others 5,504,723.89 26,784,285.35 26,249,793.09 6,039,216.15
total 427,915,773.96 1,329,446,971.97 1,299,240,745.17 458,122,000.76
29、Taxespayable
Item Ending Beginning
Value‐addedtax -199,301,109.14 -310,531,923.86
Consumptiontax 174,589,367.30 208,180,850.74
Businesstax -98,433.69 1,924,079.63
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Chongqing Changan Automobile Company Limited Semi-annual Report 2013
Corporateincometax 22,954,079.85 135,838,776.64
IndividualIncometax 706,452.05 525,886.83
Citymaintenanceandconstructiontax 13,435,314.56 7,643,259.72
Educationadditionalexpenses 10,429,236.12 5,254,758.08
Others 1,465,168.62 1,046,639.15
total 24,180,075.67 49,882,326.93
30、Interestpayable
Item Ending Beginning
Long‐termloaninterest 1,406,875.00 2,489,194.44
Corporatebondsinterest 219,083.34 1,368,897.23
Short‐termloaninterest 20,988,000.00 73,458,000.00
total 22,613,958.34 77,316,091.67
31、Dividendpayable
Item Ending Beginning
Dividendpayable–HebeiChanganMinority
79,742.80 79,742.80
interests
total 79,742.80 79,742.80
32、Otherpayables
Item Ending Beginning
Dealerearnestmoney 54,261,850.10 115,765,906.73
Warranty 31,894,596.91 10,693,731.97
Repairfees 51,519,451.85 125,702,517.71
Advertisementfees 37,091,403.16 185,351,368.09
Salesbonus 0.00 79,752.99
Warehousingandtransportfees 199,710,144.51 319,543,794.23
Loanstemporarily 37,388,706.88 2,575,021.77
Projectfunds 726,212,023.82 1,030,866,246.95
Others 229,809,864.87 127,671,080.05
total 1,367,888,042.10 1,918,249,420.49
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Chongqing Changan Automobile Company Limited Semi-annual Report 2013
33、Contingentliabilities
Item Beginning Addition Deduction Ending
Warranty 676,261,668.40 359,644,968.90 175,861,104.99 860,045,532.31
total 676,261,668.40 359,644,968.90 175,861,104.99 860,045,532.31
34、Long‐termloanswithinoneyear
Item Ending Beginning
Long‐termloanswithinoneyear 0.00 18,000,000.00
total 0.00 18,000,000.00
35Othercurrentliabilities
Item Ending Beginning
Accruedutilities 4,588,777.52 21,912,043.20
Accruedtransportationfee 537,778,657.35 270,098,933.35
Accruedlaborservicefee 64,802,811.38 18,482,138.54
Accruedtechnologyroyalty 69,808,476.18 118,916,218.60
Accruedcommercialdiscountpayable 1,100,016,278.35 963,786,289.74
Accruedmarketdevelopmentexpense 189,834,933.42 85,300,072.39
Accruedrental 2,310,000.00 3,321,000.00
Retirementbenefits(NoteV39) 0.00 6,088,000.00
Others 120,586,715.17 30,612,242.85
total 2,089,726,649.37 1,518,516,938.67
36、Long‐termloans
（1）Theclassificationoflong‐termloansisasfollows
Item Ending Beginning
Mortgageloans 110,000,000.00 92,000,000.00
Creditloans 850,000,000.00 900,000,000.00
total 960,000,000.00 992,000,000.00
（2）the top five long-term borrowing
Lender Startingdate Expiringdate Currency Interest Ending Beginning
rate(%)
Original Equivalentto Original Equivalentto
currenc currenc
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Chongqing Changan Automobile Company Limited Semi-annual Report 2013
y RMB y RMB
ChinaSouthIndustryGroupFinanceCo.,31 31
RMB 6.15% 110,000,000
Ltd August2012 August2015
5
ChinaSouthIndustryGroupFinanceCo., 5
November20 RMB 5.54% 300,000,000 300,000,000
Ltd November2015
12
7
ChinaSouthIndustryGroupFinanceCo., 7November201
November20 RMB 5.54% 200,000,000 200,000,000
Ltd 5
12
ChongqingGuanyinqiaobranchofChina3
2
ConstructionBank December20 RMB 5.54% 90,000,000 400,000,000
December2015
12
4
ChongqingGuanyinqiaobranchofChina 2
December20 RMB 5.54% 200,000,000
ConstructionBank December2015
12
total -- -- -- -- -- 900,000,000 -- 900,000,000
37、Bondspayables
item date Beginning Addition Deduction Ending
23
Corporatebonds 1,963,348,839.97 0 0 1,963,348,839.97
April2012
WiththepermissionoftheChinasecuritiesregulatorycommissionregulatoryapproval[2012]no.2012,thecompanytothepublicinApril2012,
issuecorporatebonds,facevalueofRMB1980000000.00couponforfixedrate5.30%,accordingtotheannualinterestpayments,FuXiRiforevery
yearonApril23,thefinalpaymentdateisApril23,2017.AfterdeductingdistributioncostsRMB19589600.00,raisedRMB1960410400.00.The
bondisprovidedbytheparentcompanyChinachanganfullunconditionalirrevocablejointandseveralguarantee.Duringthereportingperiod,the
companyhastopayonApril23,2012toApril22,2013,duringtheperiodofinterestatapre‐determined(firstyear).
38、Specialpayables
Item Beginning Addition Deduction Ending
Project863 22,372,753.50 14,980,000.00 12,875,395.90 24,477,357.60
Testonkeytechnologyofhybridelectric
286,473.08 2,531,546.39 2,818,019.47
vehicles
DevelopmentofHydrogen
1,791.84 0.00 1,791.84
internal‐combustionengine
NewVehicleproduct 5,811,359.41 957,310.19 4,854,049.22
Automobileproductchainsharing 4,360,605.54 2,098,592.25 2,262,013.29
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Chongqing Changan Automobile Company Limited Semi-annual Report 2013
platform
Lightweightdesignofautomotive
383,954.05 448,761.46 -64,807.41
structures
GasolineEngineDevelopment 2,076,615.10 400,000.00 149,955.91 2,326,659.19
Developmentandindustrializationofthe
embeddedsoftwareplatformfor 5,817,004.87 128,094.03 5,688,910.84
automotiveelectroniccontrollers
ChanganautomobileEclassGasoline
enginecylinderblock, cylinderhead 22,660,000.00 0.00 22,660,000.00
productionlineproject
Landrelocationcompensation 50,350,709.40 5,000,000.00 0.00 55,350,709.40
Project973 313,490.50 890,000.00 139,398.63 1,064,091.87
Automotiveordertodeliverysystem
991,047.00 515,358.00 475,689.00
project
Industrializationofpatentedtechnologies 593,000.00 0.00 593,000.00
Vehiclenetworkintelligentinformation
terminalmiddlewarekeytechnologies 2,400,000.00 0.00 2,400,000.00
researchandapplication
ChanganC206pureelectriccar
80,000,000.00 3,937,585.24 76,062,414.76
developmentandindustrialization
Others 12,634,719.67 5,825,800.00 4,262,157.86 14,198,361.81
total 131,053,523.96 109,627,346.39 25,512,609.47 215,168,260.88
39、Othernon‐currentliabilities
Item Ending Beginning
Retireebenefits 32,651,440.30 35,457,000.00
deferredincome 2,343,043,806.74 2,368,737,366.91
total 2,375,695,247.04 2,404,194,366.91
Deferredrevenueincludingreportasthefinalofthegovernmentsubsidiespertinenttoassets,bookbalanceshownfollow：
Item Ending Beginning
Subsidiesfortheautomobilecomprehensive 575,820,000.00 575,820,000.00
testinggroundproject
FundsforYuzuimotorcityproject 264,290,816.32 267,132,653.06
FundsforBeijingChanganproject 1,143,397,747.96 1,158,927,304.24
Fundsfortechnologyinnovation 16,150,000.00 16,150,000.00
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Chongqing Changan Automobile Company Limited Semi-annual Report 2013
Fundsforexpansionofproductioncapacityof 17,420,000.00 17,420,000.00
automold
FundsforHseriesengine 64,000,000.00 64,000,000.00
Industryupgradingprojectforsmall 164,500,277.79 172,483,194.45
displacementengineandtechnological
transformationprojectforCBtypeengine
productionline
Expansionofproductioncapacityproject 65,444,964.67 68,624,215.16
FundsfortheprojectofMinistryofIndustryand 27,020,000.00 23,180,000.00
InformationTechnology
SubsidiesfortheconstructionofHebeinewplant 5,000,000.00 5,000,000.00
total 2,343,043,806.74 2,368,737,366.91
40、Sharecapital
Currentmovement
Transferof
Beginning Issuanceof Ending
Stockdividend reserveto others Subtotal
shares
commonshares
the sum of
4,662,886,108.00 4,662,886,108.00
shares
41、Capitalreserves
Item Beginning Addition Deduction Ending
Sharepremium 2,819,011,364.15 2,819,011,364.15
Others 208,411,112.08 19,010,250.00 189,400,862.08
Capitalreservetransferredarising
44,496,899.00 44,496,899.00
fromtheoldstandards
Impairmentofequityinvestment 17,015,985.20 17,015,985.20
total 3,088,935,360.43 0.00 19,010,250.00 3,069,925,110.43
42、Surplusreserves
Item Beginning Addition Deduction Ending
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Chongqing Changan Automobile Company Limited Semi-annual Report 2013
Statutorysurplus 1,441,483,901.26 1,441,483,901.26
total 1,441,483,901.26 1,441,483,901.26
43、Retainedearnings
Item sum
Retainedearningsatbeginningofyearbefore
6,335,790,529.86
adjustments
Retainedearningsatbeginningofyearafter
6,335,790,529.86
adjustments
Add:Netprofitbelongtoparentcompany 1,330,969,826.33
common stock dividends payable 228,819,638.42
Retainedearningsattheend 7,437,940,717.77
44、Operatingrevenueandcost
（1）Operatingrevenue
item Report period Same period of last year
Operatingrevenue 19,219,823,196.70 13,573,434,667.31
Otheroperatingrevenue 531,131,484.27 470,795,886.53
Operatingcost 16,492,076,497.13 11,823,250,311.18
（2）Main business (divisions)
Report period Same period of last year
item
Totalrevenue Operatingcost Totalrevenue Operatingcost
motor industry 19,219,823,196.70 16,061,863,837.40 13,573,434,667.31 11,465,723,137.20
total 19,219,823,196.70 16,061,863,837.40 13,573,434,667.31 11,465,723,137.20
（3）Main business (product)
Report period Same period of last year
item
Totalrevenue Operatingcost Totalrevenue Operatingcost
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Chongqing Changan Automobile Company Limited Semi-annual Report 2013
Saleofgoods 19,111,073,021.09 15,975,255,306.15 13,479,413,900.73 11,372,601,263.29
Outsourcingprocessing 108,750,175.61 86,608,531.25 94,020,766.58 93,121,873.91
total 19,219,823,196.70 16,061,863,837.40 13,573,434,667.31 11,465,723,137.20
（4）Main business areas (points)
Report period Same period of last year
Item
Totalrevenue Operatingcost Totalrevenue Operatingcost
civil 18,818,724,488.34 15,697,624,490.80 13,435,236,438.20 11,337,423,738.81
foreign 401,098,708.36 364,239,346.60 138,198,229.11 128,299,398.39
total 19,219,823,196.70 16,061,863,837.40 13,573,434,667.31 11,465,723,137.20
（5）Topfivecustomersofoperatingrevenueareasfollows
Customer Amount Proportionoftotaloperatingrevenue(%)
Chongqing wang economic
504,726,331.69 2.56%
development co., LTD
Southwest weapon industry
430,117,815.02 2.18%
corporation
Beijing city changfeng trade
424,877,733.74 2.15%
co., LTD
Chengdu wang economic and
technology development 478,874,760.03 2.42%
corporation
Wuhan long source automobile
334,693,434.46 1.69%
sales and service co., LTD
total 2,173,290,074.94 11%
45、Businesstaxandsurcharges
item Report period Same period of last year
Consumptiontax 511,439,204.29 283,860,037.68
Businesstax 1,591,971.39 4,423,689.55
Citymaintenanceandconstruction
84,758,724.06 32,132,896.76
tax
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Chongqing Changan Automobile Company Limited Semi-annual Report 2013
Educationadditionalexpenses 39,349,280.11 16,455,688.69
Others 59,704.26 299,860.77
total 637,198,884.11 337,172,173.45
46、Operatingexpenses
item Report period Same period of last year
Payrollandwelfare 94,224,474.03 94,865,170.09
Promotionfee 215,847,951.51 256,944,315.49
Transportationexpenses 757,488,719.81 612,845,824.04
Travellingexpenses 24,082,372.39 29,099,533.69
Packageexpenses 6,681,083.73 7,641,108.46
Administrativeexpenses 2,887,489.69 3,931,368.83
Sellingservicefee 441,236,833.57 280,555,570.34
Salesdiscount 94,122,933.18 -28,238,370.12
Others 31,537,379.97 38,600,266.63
total 1,668,109,237.88 1,296,244,787.45
47、Generalandadministrativeexpenses
item Report period Same period of last year
Payrollandwelfare 535,910,614.93 478,737,551.08
Technologyresearchexpenses 362,647,856.75 217,603,185.45
Administrativeexpenses 3,230,377.11 3,281,227.03
Depreciationandamortization 200,305,690.62 153,809,769.72
Miscellaneousservicecharges 4,061,874.64 4,408,010.08
Taxfee 64,383,291.04 38,751,862.17
Trafficexpenses 19,530,194.76 18,609,021.90
Travellingexpenses 7,976,146.14 10,039,037.62
Entertainmentexpenses 10,933,479.61 12,572,342.18
Others 64,542,825.71 13,098,377.42
total 1,273,522,351.31 950,910,384.65
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Chongqing Changan Automobile Company Limited Semi-annual Report 2013
48、Financialexpenses
item Report period Same period of last year
Interestexpense 111,498,540.90 50,256,360.77
Less:interestincome 66,460,328.61 63,377,691.06
Exchangegainorloss 1,750,950.93 -2,424,676.92
Others 6,773,671.86 6,632,583.81
total 53,562,835.08 -8,913,423.40
49、Profitandlossfromfairvaluechanges
Sourcesoffairvaluechanges Report period Same period of last year
Financialassetsheldfortrading -332,407.00 -1,525,799.63
total -332,407.00 -1,525,799.63
50、Investmentincome
（1）Detailsofinvestmentincome
item Report period Same period of last year
Long‐term equity investment income under cost
29,105,553.99
method
Long‐termequityinvestmentincomeunderequity
1,774,141,795.34 730,922,472.73
method
stock dividend income from available‐for‐sale
-250,733.75 1,819,000.00
financialassets
Available‐for‐sale financial assets investment
1,775,000.00
incomethroughdisposal
total 1,804,771,615.58 732,741,472.73
（2）Accordingtothecostaccountingmethodofalong‐termequityinvestmentgains
Theinvestedentity Report period Same period of last year
Chongqingantellimportandexporttradeco.,LTD 3,600,000.00
100
Chongqing Changan Automobile Company Limited Semi-annual Report 2013
Weaponequipmentgroupfinanceco.,LTD 23,413,203.42
Chongqingchanganadvertisingco.,LTD
2,092,350.57
Total 29,105,553.99
（3）Accordingtotheequitymethodaccountingoflong‐termequityinvestmentgains
Theinvestedentity Report period Same period of last year
ChanganFordAutomobileCo.,Ltd 1,584,630,561.86 542,930,665.30
ChongqingChanganSuzukiAutomobileCo.,Ltd -10,689,200.00 51,674,154.43
JianglingHoldingCo.,Ltd 155,842,970.80 131,214,820.76
ChanganMazdaAutomobileCo.,Ltd 10,900,338.98 -
ChanganfordMazdaengineco.,LTD 36,665,597.19 6,056,425.12
Chongqinghenginformationtechnologyco.,LTD 0.00 -1,460,080.64
chongqingxiyiAutomobileconnectingrodco.,LTD 567,393.25 506,487.76
ChongqingChanganKuayueAutomobileCo.,Ltd -288,924.39 -
BeijingAnntaxico.,LTD -3,486,942.35 -
Total 1,774,141,795.34 730,922,472.73
51、mpairmentlossonassets
item Report period Same period of last year
1.Baddebtloss 371,404.54 2,079,702.53
2.Impairmentprovisionofobsoleteinventory 30,566,854.09 -11,070,300.03
3.Impairmentprovisionoffixedassets 54,456,092.49
4.Impairmentprovisionofintangibleassets 38,037,153.88
total 123,431,505.00 -8,990,597.50
52、Non‐operatingincome
Amountrecognizedas
item Report period Same period of last year non‐recurringprofitand
loss
Non-current assets disposal gains in
947,733.34 656,029.56 947,733.34
total
101
Chongqing Changan Automobile Company Limited Semi-annual Report 2013
Gain on the disposal of fixed assets 947,733.34 656,029.56 947,733.34
Government grants 44,194,360.17 104,918,471.02 44,194,360.17
others 12,463,643.62 20,566,997.00 12,463,643.62
Total 57,605,737.13 126,141,497.58 57,605,737.13
53、Non‐operatingexpenses
Amount recognized as
item Report period Same period of last year non-recurring profit and
loss
Non-current assets disposal has lost 4,134,080.37 1,795,479.91 4,134,080.37
Loss on the disposal of fixed assets 4,134,080.37 1,795,479.91 4,134,080.37
Donation 1,761,800.00 337,900.00 1,761,800.00
Others 12,153,989.40 1,874,617.54 12,153,989.40
Total 18,049,869.77 4,007,997.45 18,049,869.77
54、Incometaxexpense
item Report period Same period of last year
Current income tax expense 49,434,599.74 11,559,384.22
Deferred income tax adjustment -20,364,991.11 -54,420,394.11
total 29,069,608.63 -42,861,009.89
55、Othercomprehensiveincome
item Report period Same period of last year
1. Profits (loss) generated from available for sale financial
-32,042,080.00 44,526,740.00
assets
Less: Available for sale financial assets arising from income
-5,774,020.00 5,398,435.00
taxeffect
total -26,268,060.00 39,128,305.00
102
Chongqing Changan Automobile Company Limited Semi-annual Report 2013
56、Notestocashflowstatement
（1）Themajorcashreceivedrelatingtootheroperatingactivities
item Amount
Interestincome 29,717,507.30
Governmentgrantsrelatedtooperatingactivities 482,699,000.00
Others 87,449,430.16
Total 599,865,937.46
（2）Themajorcashpaidrelatingtootheroperatingactivities
item Amount
Sellingexpense 787,885,820.57
Administrativeexpense 477,987,793.56
Energysavingincentives 371,781,000.00
Others 606,970,071.48
Total 2,244,624,685.61
（3）Themajorcashreceivedrelatingtootherinvestingactivities
item Amount
Governmentgrantsrelatedtoassets 10,000,000.00
Others 146,500.00
Total 10,146,500.00
（4）Themajorcashpaidrelatingtootherinvestingactivities
item Amount
Others 80,000.00
Total 80,000.00
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Chongqing Changan Automobile Company Limited Semi-annual Report 2013
（5）Themajorcashreceivedrelatingtootherfinancingactivities
item Amount
Withdraw fordepositofbill 9,627,000.00
Others 2,528,696.67
Total 12,155,696.67
（6）Themajorcashpaidrelatingtootherfinancingactivities
item Amount
Paymentfordepositofbill 544,427.29
Total 544,427.29
57、Supplementaryinformationofcashflowstatement
（1）Supplementaryinformationofcashflowstatement
Supplementaryinformation Report period Same period of last year
1．Cashflowsfromoperatingactivitiescalculatedby
‐‐ ‐‐
adjustingthenetprofit
Netprofit 1,317,978,837.77 550,767,101.13
Add:assetimpairmentprovision 42,613,487.39 -8,990,597.50
Fixedassetsdepreciation,depletionofoilandgasassets,
productivebiologicalassetsdepreciation 569,644,175.24 334,522,812.77
Amortizationofintangibleassets 156,885,116.43 121,115,500.29
Amortizationoflong‐termdeferredexpense 4,069,189.41 1,451,840.96
Disposalloss(gain)onfixedassets,intangibleassetsand
2,895,878.56 2,097,141.92
otherslong‐termassets
Loss(gain)onretirementoffixedassets 301,180.08 1,444.99
Loss(gain)fromfairvaluechanges 332,407.00 1,525,799.63
Financialexpense(income) 53,562,835.08 -8,913,423.40
Investmentloss(gain) -1,804,771,615.58 -732,741,472.73
Decrease(increase)indeferredtaxassets -21,637,077.93 -22,475,585.79
Decrease(increase)ininventory -973,581,201.36 520,504,971.38
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Chongqing Changan Automobile Company Limited Semi-annual Report 2013
Decrease(increase)inoperatingreceivables -22,805,387.10 -1,223,166,032.73
Increase(decrease)inoperatingpayables 4,372,472,426.20 1,242,647,344.43
Others -43,574,825.89 -102,890,461.29
Netcashflowsfromoperatingactivities 3,654,385,425.30 675,456,384.06
2．Doesnotinvolvecashreceiptsandcashdisbursements
-- --
ofthemajorinvestmentandfinancingactivities：
3．Movementofcashandcashequivalents： -- --
Endingbalanceofcash 6,898,632,150.35 4,239,054,165.83
Less:beginningbalanceofcash 4,199,763,915.82 4,871,199,806.77
Increaseincashandcashequivalents 2,698,868,234.53 -632,145,640.94
（2）Cashandcashequivalents
Item Ending Beginning
I.Cash 6,898,632,150.35 4,199,763,915.82
Including:Cashonhand 4,008.51 32,745.00
Bankdepositsthatcanbereadilyused 6,898,628,141.84 4,199,731,170.82
II.Endingbalanceofcashandcashequivalents 6,898,632,150.35 4,199,763,915.82
八、Relatedpartyrelationshipsandtransactions
1、Parentcompany
Parent Proportio
Proportio nof
Placeof Legal Thecompany organizing
correlatio Corporate profession Registere nof voting
registratio represent finallyparty institution
n type alquality dcapital sharesin rightsin
n ative control barcode
the the
Company company
105
Chongqing Changan Automobile Company Limited Semi-annual Report 2013
China Company XuLiuping Themain
Changan limitedby automobil
Automobil shares e,
eGroup motorcycl
Co,Ltd eand
ChinaSouth
dominant Placeof parts 45,823,737
Industries
stockhold registratio design, ,000,000.0 44.93% 44.93% 71093394‐8
Group
er n developm 0
Corporation
ent,
manufact
ure,
marketing
The parent company of this enterprise situation
The controlling shareholder, China changan automobile group co., LTD
Legal representative: xu ping
Date: on December 26, 2005
Organization code: 71093394-8
Registered capital: 4582373700 yuan
Main business and products: automobiles, motorcycles, automobile motorcycle engine, automobile motorcycle
parts and components design, development, manufacture, marketing; Optical products, electronic and
optoelectronic products, night vision equipment, information and communications equipment sales; With the
business related technology development, technology transfer, technical consulting, technical training,
technical services; Import and export business; Asset acquisitions, asset restructuring.
2、Otherrelatedparties
Relatedparties Relationship Organizationcode
ChinaSouthIndustriesGroupCorporation Ultimateholdingcompany 71092492-9
ChanganFordMazdaEngineCo.,Ltd Jointventure 71785962-1
ChanganFordAutomobileCo.,Ltd Jointventure 70937510-9
ChanganMazdaAutomobileCo.,Ltd JointVenture 71788527-2
ChongqingChanganSuzukiAutomobileCo.,
Jointventure 62190016-7
Ltd
JianglingHoldingCo.,Ltd Jointventure 76703230-7
ChongqingHelpGoInformationTechnology Associate
20287102-3
Co.,Ltd
Chongqing changan kuayue vehicle Associate
45040622-7
marketing co., LTD
106
Chongqing Changan Automobile Company Limited Semi-annual Report 2013
ChongqingXiyiAutomobileLinkageRodCo., Associate
79589352-6
Ltd.
Controlledbythesameparent
SouthTianheChassisSystemCo.,Ltd 77487491-6
company
Controlledbythesameparent
SouthInterAir‐conditionerCo,.Ltd 62192592-X
company
ChongqingChangfengJiquanMachineryCo., Controlledbythesameparent
74745528-1
Ltd company
ChongqingAutomobileAir‐conditionerCo., Controlledbythesameparent
20304827-4
Ltd company
Controlledbythesameparent
HafeiMotorCo.,Ltd. 60716197-8
company
Controlledbythesameparent
DonganAutoEngineCo.,Ltd. 71201745-X
company
HarbinDonganAutomotiveEngine Controlledbythesameparent
71201711-8
ManufacturingCo.,Ltd. company
Controlledbythesameparent
JiangxiChangheAutomobileCo.,Ltd. 67799358-5
company
Controlledbythesameparent
JiangxiChangheSuzukiAutomobileCo.,Ltd. 61271096-X
company
Controlledbythesameparent
HefeiChangheAutomobileCo.,Ltd 66143118-2
company
Controlledbythesameparent
ChongqingAnfuAutomobileCo.,Ltd 73657088-2
company
ChinaChanganAutomobileGroupTianjin Controlledbythesameparent
56610492-5
SalesCo.,Ltd company
ChengduHuachuanElectricEquipmentCo., Controlledbythesameparent
73021809-5
Ltd company
ChengduNingjiangZhaoheAutomobile Controlledbythesameparent
20224398-3
ComponentsCo.,Ltd company
SichuanNingjiangShanchuanMachineryCo, Controlledbythesameultimate
78914008-5
Ltd holding company
Controlledbythesameultimate
ChengduNingXingautomobilespringco.,LTD 72343715-0
holding company
Controlledbythesameultimate
ChongqingChanganConstructionCo.,Ltd 20281750-9
holding company
ChongqingChanganMinShengLogisticsCo., Controlledbythesameultimate
70942619-9
Ltd. holding company
107
Chongqing Changan Automobile Company Limited Semi-annual Report 2013
SichuanHongguangMachineryandElectrics Controlledbythesameultimate
62170388-4
Co.,Ltd holding company
BeijingBeijiMechanicalandElectricalIndustry Controlledbythesameultimate
10110292-X
Co.,Ltd holding company
ChongqingChanganRealEstateDevelopment Controlledbythesameultimate
20283366-8
Co.,Ltd holding company
Controlledbythesameultimate
ChinaSouthIndustryGroupFinanceCo.,Ltd 71093365-7
holding company
Controlledbythesameultimate
ChanganIndustriesGroupCo.Ltd 20281485-4
holding company
Controlledbythesameultimate
ChengduLingchuanVehicleOilTankCo.,Ltd 72807819-3
holding company
Controlledbythesameultimate
ChengduLingchuanSpecialIndustryCo.,Ltd 66302209-1
holding company
ChengduWanyouEconomicTechnological Controlledbythesameultimate
20196934-4
DevelopmentCo.,Ltd holding company
Controlledbythesameultimate
ChengduWanyouFilterCo.,Ltd 62170342-X
holding company
HubeiXiaoganHuazhongAutomobileLight Controlledbythesameultimate
71466819-2
Co.,Ltd holding company
Controlledbythesameultimate
Wangautoinvestmentco.,LTD 59920037-4
holding company
Controlledbythesameultimate
YunnanXiyiIndustriesCo.,Ltd 21652160-6
holding company
Controlledbythesameultimate
ChongqingChangrongMachineryCo.,Ltd 70946451-5
holding company
ChongqingDajiangXindaVehiclesSharesCo., Controlledbythesameultimate
70943915-X
Ltd holding company
Controlledbythesameultimate
ChongqingDajiangYuqiangPlasticCo.,Ltd 62190601-6
holding company
ChongqingJiansheAutomobileAir‐conditioner Controlledbythesameultimate
75925214-X
Co.,Ltd holding company
ChongqingQingshanTransmissionSalesCo., Controlledbythesameultimate
20314556-8
Ltd holding company
ChongqingShangfangAutomobileFittings Controlledbythesameultimate
75008974-5
Co.,Ltd holding company
Controlledbythesameultimate
ChongqingWanbingMaterialCo.,Ltd 75005068-0
holding company
108
Chongqing Changan Automobile Company Limited Semi-annual Report 2013
ChongqingWanyouEconomicDevelopment Controlledbythesameultimate
20286206-3
Co.,Ltd holding company
ChongqingWanyouAutoSalesandService Controlledbythesameultimate
20280671-5
Co.,Ltd holding company
ChongqingYihongEngineeringPlastic Controlledbythesameultimate
62190975-1
ProductsCo.,Ltd holding company
GuangxiWanyouAutoSalesandServiceCo., Controlledbythesameultimate
75978537-6
Ltd holding company
GuizhouWanyouAutoSalesandServiceCo., Controlledbythesameultimate
70960979-6
Ltd holding company
YunnanWanyouAutoSalesandServiceCo., Controlledbythesameultimate
70970600-0
Ltd holding company
NanningWanyouAutoSalesandServiceCo., Controlledbythesameultimate
55940430-5
Ltd holding company
ChengduWanyouXiangyuAutoSalesand Controlledbythesameultimate
55357636-8
ServiceCo.,Ltd holding company
ChongqingChanganVisteonEngineControl Controlledbythesameultimate
76268659-8
SystemsCo.,Ltd. holding company
ChengduJialingHuaxiOptical&Precision Controlledbythesameultimate
78011710-2
MachineryCo.,Ltd holding company
ChongqingChanganPropertyManagement Controlledbythesameultimate
20281081-0
Co.,Ltd. holding company
Renamedwangautoinvestmentco.,
SouthwestOrdnanceIndustryCorporation 59920037-4
LTD
3、related-party transaction
（1）Transactionsofgoodsandservices
Relatedparties Natureofthe Connection Report period Same period of last year
transaction transaction Amount Proportio Amount Proportio
pricingmethods
nof nof
and
similar similar
decision‐making
transacti transacti
process
ons(%) ons(%)
Basedon
subtotal 2,994,284,272.83 18.07% 2,542,851,249.70 21.51%
agreement
109
Chongqing Changan Automobile Company Limited Semi-annual Report 2013
（2）Salesofgoodsandservicestorelatedparties
Relatedparties Natureofthe Connection Report period Same period of last year
transaction transactionpricing Amount Proportio Amount Proportio
methodsand nof nof
decision‐making similar similar
process transacti transacti
ons(%) ons(%)
Basedon
Subtotal 2,904,721,275.75 14.71% 2,549,201,036.22 18.15%
agreement
（3）Associated with the lease
Lessor Lessee Startingdate Expiringdate Thebasisfor Yearly
Typeofleased
rentalpricing recognized
assets
rental
Chongqing Chongqing 2013.01.01 2013.12.31
ChanganMin Changan Basedon
building 698,739.20
ShengLogistics agreement
Co.,Ltd.
Chongqing Chongqing 2013.01.01 2013.12.31
ChanganMin Changan Basedon
building 1,659,227.04
ShengLogistics agreement
Co.,Ltd.
Chongqing Chongqing 2013.05.01 2013.12.31
ChanganReal Changan
Basedon
Estate building 593,416.00
agreement
Development
Co.,Ltd
Chongqing Chongqing 2013.01.01 2013.12.31
ChanganReal Changan
Basedon
Estate building 1,466,428.00
agreement
Development
Co.,Ltd
110
Chongqing Changan Automobile Company Limited Semi-annual Report 2013
（4）Otherrelatedpartytransactions
Expensesofintegratedservicecharges
Relatedparties Natureofthetransaction Report period Same period of last year
Amount Proportionofsimilartransactions(%) Amount Proportionofsimilartransactions(%)
Paymentoflandrentalfees 11,892,475.50 11.81% 11,765,565.90 10.07%
Paymentofbuildingrentalfees 15,732,749.30 15.62% 16,116,276.30 13.79%
Changan Industries
Paymentofutilities 66,318,734.92 65.85% 81,492,035.41 69.72%
GroupCo.Ltd
Paymentoffirefightingfees 1,370,000.00 1.36% 1,370,000.00 1.17%
Others 5,398,212.12 5.36% 6,140,144.30 5.25%
Total 100,712,171.84 100.00% 116,884,021.91 100.00%
Purchaseofprojectmaterials
Report period Same period of last year
Relatedparties Amount Proportionofsimilar Amount Proportionofsimilartransactions
transactions(%) (%)
ChongqingChanganConstructionCo.,Ltd 38,460,883.00 5.41% 149,804,395.00 5.91%
ChongqingChanganMinShengLogisticsCo.,Ltd. 20,583,683.50 2.89% 4,837,202.40 0.19%
ChanganIndustriesGroupCo.Ltd 758,123.00 0.11% 913,733.00 0.04%
Total 59,802,689.50 8.41% 155,555,330.40 6.14%
Staffexpensesfortechnicalsupporting
111
Chongqing Changan Automobile Company Limited Semi-annual Report 2013
Report period Same period of last year
Relatedparties Amount Proportionofsimilar Amount Proportionofsimilar
transactions(%) transactions(%)
ChanganFordAutomobileCo.,Ltd(formername:ChanganFord
7,905,275.00 100% 2,395,840.00 43.64%
MazdaAutomobileCo.,Ltd)
ChongqingChanganSuzukiAutomobileCo.,Ltd 2,969,565.00 54.08%
ChanganIndustriesGroupCo.Ltd 125,162.08 2.28%
Total 7,905,275.00 100% 5,490,567.08 100.00%
Trademarklicenseincome
Report period Same period of last year
Relatedparties Amount Proportionofsimilar Amount Proportionofsimilar
transactions(%) transactions(%)
ChongqingChanganKuayueAutomobileCo.,Ltd 5,319,420.00 100%
Technicalserviceincome
Report period Same period of last year
Relatedparties Amount Proportionofsimilar Amount Proportionofsimilar
transactions(%) transactions(%)
HafeiAutomobileCo.,Ltd. - - 43,649,500.00 99.93%
Harbindonganautomotiveenginemanufacturingco.,LTD 684,800.00 17.19% 32,000.00 0.07%
ChongqingChanganSuzukiAutomobileCo.,Ltd 3,300,000.00 82.81%
Total 3,984,800.00 100% 43,681,500.00 100%
112
Chongqing Changan Automobile Company Limited Semi-annual Report 2013
Capitaloccupiedincome
Report period Same period of last year
Relatedparties Amount Proportionofsimilar Amount Proportionofsimilar
transactions(%) transactions(%)
Chongqingwangeconomicdevelopmentco.,LTD 239,022.86 17.26% 297,260.93 10.10%
guangxiwangeconomicdevelopmentco.,LTD 50,542.43 3.65% 98,061.54 3.33%
Chengduwangeconomicandtechnologydevelopment
918,434.18 66.31% 2,451,498.33 83.32%
corporation
Guizhouwangeconomicdevelopmentco.,LTD 176,966.45 12.78% 95,339.74 3.24%
total 1,384,965.91 100.00% 2,942,160.53 100.00%
Related party monetary funds
Ending Beginning
Amount Proportionofsimilartransactions Amount Proportionofsimilartransactions
Relatedparties
(%) (%)
Weaponequipmentgroupfinanceco.,LTD 1,286,361,500.47 22.43% 1,331,512,029.13 31.41%
Long-term borrowing
Ending Beginning
Amount Proportionofsimilartransactions Amount Proportionofsimilartransactions
Relatedparties
(%) (%)
610,000,000.00 63.54% 610,000,000.00 61.49% 610,000,000.00
113
Chongqing Changan Automobile Company Limited Semi-annual Report 2013
4、The affiliated party receivable accounts payable
Ending Beginning
Item Balance Provision Balance Provision
Accounts
receivable
Subtotal 174,911,608.74 160,601,442.93
bill receivable
Subtotal 1,256,220,000.00 1,947,032,000.00
Prepayment
Subtotal 2,000,928.41 383,041.41
The listed company to deal with related party
Item Ending Beginning
notes payable
Subtotal 1,932,511,903.17 1,385,221,915.11
Account payable
Subtotal 796,493,736.87 929,542,023.41
Deferred revenue
Subtotal 83,434,744.95 315,373,222.93
Other payables
Subtotal 129,293,472.78 326,711,533.05
九、Other important matters
In the fair value of assets and liabilities
Included in the
Changes in the fair
cumulative changes
value of the current This provision for
Item Beginning in the fair value of Ending
period profit and impairment
the rights and
loss
interests
financial assets
Measuredatfairvalue
332,407.00 -332,407.00 0.00
andthechangesare
114
Chongqing Changan Automobile Company Limited Semi-annual Report 2013
includedinthecurrent
profitsandlossesofgold
Availableforsale
233,814,100.00 -19,010,250.00 214,803,850.00
financialassets
Subtotal 234,146,507.00 -332,407.00 -19,010,250.00 214,803,850.00
Theinvestmentreal
0.00 0.00
estate
Theproductivebiological
0.00 0.00
assets
Total 234,146,507.00 -332,407.00 -19,010,250.00 214,803,850.00
Financialliabilities 0.00 0.00
十、NotestotheCompany’sfinancialstatements
1、AccountsReceivable
（1）AccountsReceivable
Ending Beginning
Item Balance Provision Balance Provision
Amount % Amount % Amount % Amount %
Individuallysignificant
itemsandanalyzed 66,224,539.96 5.61% 57,465,112.99 5.18%
individuallyforprovision
Accountsreceivableanalyzedasgroupsforprovision
Group1.Accounts
receivableanalyzedfor
181,268,465.02 15.37% 37,839,749.45 20.87% 72,506,929.40 6.54% 37,508,407.16 51.73%
provisionaccordingto
aginganalysis
Group2.Accounts
receivablefromrelated 932,229,132.66 79.02% 978,881,984.21 88.28%
parties
Groupsubtotal 1,113,497,597.68 94.39% 37,839,749.45 3.4% 1,051,388,913.61 94.82% 37,508,407.16 3.57%
Total 1,179,722,137.64 -- 37,839,749.45 -- 1,108,854,026.60 -- 37,508,407.16 --
Withingroups,accountsreceivableanalyzedforprovisionaccordingtoaginganalysis
Aging Ending Beginning
115
Chongqing Changan Automobile Company Limited Semi-annual Report 2013
Balance Balance
Percenta Provision Percenta Provision
Amount Amount
ge(%) ge(%)
Within 1 year
-- -- -- -- -- --
Within6
132,305,747.34 72.99% 24,107,208.27 33.25%
months
6to12months 2,941,164.25 1.62% 147,058.21 255,480.06 0.35% 12,774.00
Within1year
135,246,911.59 74.61% 147,058.21 24,362,688.33 33.6% 12,774.00
subtotal
1to2years 666,200.83 0.37% 66,620.08 1,601,166.67 2.21% 160,116.67
2to3years 8,638,772.92 4.77% 2,524,291.75 13,056,095.28 18.01% 3,916,828.58
3to4years 3,229,600.56 1.78% 1,614,800.28
4to5years 0% 341,456.08 0.47% 273,164.87
Over5years 33,486,979.12 18.47% 33,486,979.12 33,145,523.04 45.71% 33,145,523.04
Total 181,268,465.02 -- 37,839,749.45 72,506,929.40 -- 37,508,407.16
（2）topfivedebtorsofaccountsreceivableareasfollows
Relationshipwiththe Proportionoftotal
Debtors Amount Aging
Company accountsreceivable(%)
First Subsidiary 490,964,178.20 Within 5 years 41.62%
Second Subsidiary 146,606,385.30 Within2years 12.43%
Third Subsidiary 80,667,173.30 Within4years 6.84%
South group subordinate
Fourth Within half a year 4.51%
enterprises 53,241,174.61
China changan
Fifth Within 3years 3.62%
subordinateenterprises 42,655,287.99
Total -- 814,134,199.40 -- 69.01%
（3）accountsreceivableduefromrelatedpartiesisasfollows
Proportionoftotalaccounts
Debtors RelationshipwiththeGroup Amount
receivable(%)
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Chongqing Changan Automobile Company Limited Semi-annual Report 2013
Nanjing Changan Automobile Subsidiary
490,964,178.20 41.62%
Co., Ltd
Chongqing Changan Subsidiary
International Automobile 146,606,385.30 12.43%
Sales Co., Ltd
Heilongjiang Changan Subsidiary
80,667,173.30 6.84%
Automobile Sales Co., Ltd.
Chengdu wang economic and
South group subordinate
technology development 53,241,174.61 4.51%
enterprises
corporation
Hafei Automobile Co., Ltd. Controlled by the same parent
company 42,655,287.99 3.62%
Changan Ford Automobile Joint venture
Co., Ltd (former name:
35,430,203.79 3%
Changan Ford Mazda
Automobile Co., Ltd)
Chongqing changan Subsidiary
5,259,941.57 0.45%
automobile service co., LTD
Hebei Baoding Changan Bus Subsidiary
21,954,717.81 1.86%
Co., Ltd.
For chongqing changan Subsidiary
7,783,338.03 0.66%
automobile co., LTD
Chongqing Changan Suzuki Joint venture
8,418,567.14 0.71%
Automobile Co., Ltd
Chongqing Changan Kuayue Associate
7,412,370.00 0.63%
Automobile Co., Ltd
Liaoning changan automobile Subsidiary
7,372,369.23 0.62%
sales co., LTD
Xinjiang changan automobile Subsidiary
5,330,483.08 0.45%
sales co., LTD
Jiangling holding co., LTD 4,813,814.08 0.41%
Chongqing changan industrial South group subordinate
4,018,863.97 0.34%
(group) co., LTD. enterprises
Lufeng factory jiangling
Joint venture 3,062,280.32 0.26%
holding co., LTD
Yinchuan changan automobile Subsidiary
2,056,841.28 0.17%
sales co., LTD
Changan automobile (group) Subsidiary
872,732.96 0.07%
co., LTD. Harbin branch sales
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Chongqing Changan Automobile Company Limited Semi-annual Report 2013
Chongqing upcoming car China changan subordinate
3,908,410.00 0.33%
marketing co., LTD enterprises
Changan ford Mazda engine
Joint venture 400,000.00 0.03%
co., LTD
Total -- 932,229,132.66 79.02%
2、Otherreceivables
（1）Otherreceivables
Ending Beginning
Item Balance Provision Balance Provision
Amount % Amount % Amount % Amount %
Individuallysignificantitems
andanalyzedindividuallyfor 52,775,000.00 14.76% 56,232,000.00 17.67%
provision
Otherreceivablesanalyzedasgroupsforprovision
Group1.Otherreceivables
analyzedforprovision 150,253,825.86 43.9% 2,780,941.23 1.85% 39,099,330.28 12.28% 2,740,878.98 7.01%
accordingtoaginganalysis
Group2.Otherreceivables
150,117,950.78 42.3% 222,986,056.41 70.05%
fromrelatedparties
Groupsubtotal 300,371,776.64 85.2% 2,780,941.23 0.93% 262,085,386.69 82.33% 2,740,878.98 1.05%
Individuallysignificantitems
andanalyzedindividuallyfor 161,305.13 0.04%
provision
Total 353,308,081.77 -- 2,780,941.23 -- 318,317,386.69 -- 2,740,878.98 --
Withingroups,otherreceivablesanalyzedforprovisionaccordingtoaginganalysis
Ending Beginning
Aging Balance Balance
Provision Provision
Amount % Amount %
Within 1 year
-- -- -- -- -- --
Within6months 138,576,642.83 92.23% 31,212,755.11 79.83%
6to12months 5,243,977.58 3.49% 262,198.88 1,806,536.51 4.62% 90,326.83
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Chongqing Changan Automobile Company Limited Semi-annual Report 2013
Within1year
143,820,620.41 95.72% 262,198.88 33,019,291.62 84.45% 90,326.83
subtotal
1to2years 3,315,050.44 2.21% 331,505.04 3,006,453.01 7.68% 300,645.30
2to3years 1,236,311.01 0.82% 370,893.30 1,026,684.00 2.63% 308,005.20
3to4years 131,000.00 0.09% 65,500.00 10,000.00 0.03% 5,000.00
4to5years 0.00 0%
Over5years 1,750,844.00 1.17% 1,750,844.00 2,036,901.65 5.21% 2,036,901.65
Total 150,253,825.86 -- 2,780,941.22 39,099,330.28 -- 2,740,878.98
（2）topfivedebtorsofotherreceivablesareasfollows
Relationshipwith Proportionoftotalother
Debtors Amount Aging
theCompany receivables(%)
First Subsidiary Within
100,000,000.00 28.3%
half a year
Second Subsidiary Within
50,000,000.00 14.15%
half a year
Third Within
30,000,000.00 8.49%
half a year
Fourth Thestaffofthe Within
20,864,640.00 5.91%
company half a year
Fifth Thestaffofthe Within
9,299,717.50 2.63%
company half a year
Total -- 210,164,357.50 -- 59.48%
（3）Other accounts receivable affiliated parties
Item relation Amount (%)
Nanjing changan automobile co., LTD Subsidiary 100,000,000.00 28.3%
Chongqing changan automobile Subsidiary
international sales and service co., LTD 50,000,000.00 14.15%
Beijing changan automobile engineering Subsidiary
117,950.78 0.03%
technology research co., LTD
Total 150,117,950.78 42.48%
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Chongqing Changan Automobile Company Limited Semi-annual Report 2013
3、Long‐termequityinvestments
Explanationforthe
differencebetween
Accountin Shareholdin Voting shareholdingpercentage Current
Investee gmethod Initialamount Beginning Addition/(deduction Ending percentage(% percentage(%) andvotingpercentage Impairment provision Currentcashdividends
Jointventures
ChongqingChanganSuzuki Equity N/A
239,905,266.00 1,421,953,088.21 -10,689,200.00 1,411,263,888.21 51% 51%
AutomobileCo.,Ltd
JianglingHoldingCo.,Ltd Equity 1,000,000,000.00 1,706,722,325.52 155,842,970.80 1,862,565,296.32 50% 50% N/A
ChanganFordAutomobileCo., Equity N/A
Ltd （formername:Changan
951,589,136.29 2,677,677,911.23 -15,369,438.14 2,662,308,473.09 50% 50% 1,600,000,000.00
FordMazdaAutomobileCo.,
Ltd ）
ChanganFordMazdaEngine Equity N/A
1,097,839,635.00 1,115,310,608.80 10,900,338.98 1,126,210,947.78 50% 50%
Co.,Ltd
ChanganMazdaAutomobile Equity
786,734,634.10 475,236,298.82 36,665,597.19 511,901,896.01 50% 50% N/A
Co.,Ltd
Associates
ChongqingHelpGo Equity N/A
InformationTechnologyCo., 4,500,000.00 10,316,211.80 -10,316,211.80 0.00 21.43% 21.43%
Ltd
ChongqingXiyiAutomobile Equity N/A
6,714,720.64 8,415,002.53 567,393.25 8,982,395.78 40% 40%
LinkageRodCo.,Ltd
ChongqingChanganKuayue Equity N/A
61,800,885.00 63,870,734.11 -288,924.39 63,581,809.72 34.3% 34.3%
AutomobileCo.,Ltd
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Chongqing Changan Automobile Company Limited Semi-annual Report 2013
ChongqingChanganKuayue Equity N/A
1.00 0.00 34.3% 34.3%
AutomobileSalesCo.,Ltd
BeijingFang’antaxiCo.,Ltd Equity 6,000,000.00 6,000,000.00 -3,486,942.35 2,513,057.65 42.25% 42.25% N/A
Subsidiaries
NanjingChanganAutomobile Commissionedbyminorities
cost 413,805,259.00 413,805,259.00 3,086,000.00 416,891,259.00 82.47% 91.53%
Co.,Ltd toexercisevotingrights
HebeiChanganAutomobile Commissionedbyminorities
cost 437,635,236.00 437,635,236.00 437,635,236.00 94.07% 95.62%
Co.,Ltd toexercisevotingrights
ChongqingChangan Cost N/A
InternationalAutomobileSales 13,068,580.00 13,068,580.00 13,068,580.00 95% 95%
Co.,Ltd
ChongqingChangan Cost N/A
Automobilesupporting 29,700,000.00 29,700,000.00 29,700,000.00 99% 99%
serviceCo.,Ltd.
ChongqingChangan Cost N/A
48,500,000.00 48,500,000.00 48,500,000.00 100% 100%
AutomobileSalesCo.,Ltd
ChongqingChangan Cost N/A
Automobilesales 8,050,000.00 8,050,000.00 8,050,000.00
subsidiaries
ChongqingChanganSpecial Cost N/A
2,500,000.00 2,500,000.00 2,500,000.00 50% 50%
AutomobilesalesCo.,Ltd
ChongqingChanganEurope Cost N/A
134,879,700.00 134,879,700.00 134,879,700.00 100% 100%
DesignAcademyCo., Ltd
ChongqingChangannew Cost N/A
18,850,000.00 18,850,000.00 18,850,000.00 65% 65%
EngergyAutomobileCo.Ltd
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Chongqing Changan Automobile Company Limited Semi-annual Report 2013
ChanganUnitedKingdomR&D Cost N/A
981,934.40 981,934.40 981,934.40 100% 100%
Center Co., Ltd.
BeijingChanganR&DCenter Cost N/A
1,000,000.00 1,000,000.00 1,000,000.00 100% 100%
Co., Ltd.
Ha’erbinChanganR&DCenter Cost N/A
1,000,000.00 1,000,000.00 1,000,000.00 100% 100%
Co., Ltd.
JiangxiChanganR&DCenter Cost N/A
2,000,000.00 2,000,000.00 2,000,000.00 100% 100%
Co., Ltd.
ShanghaiChanganR&DCenter Cost N/A
1,000,000.00 1,000,000.00 1,000,000.00 100% 100%
Co., Ltd.
ChanganJapanDesigning Cost N/A
1,396,370.15 1,396,370.15 1,396,370.15 100% 100%
CenterCo.,Ltd.
ChanganUnitedStatesR&D Cost N/A
1,317,720.00 1,317,720.00 1,317,720.00 100% 100%
Center Co., Ltd.
HebeiBaodingChanganBus Cost N/A
176,002,613.18 176,002,613.18 176,002,613.18 100% 100%
Co.,Ltd.
Others N/A
ChinaSouthIndustryGroup Cost N/A
80,000,000.00 80,000,000.00 80,000,000.00 5.33% 5.33% 23,413,203.42
FinanceCo.,Ltd
ChongqingAnteImportand Cost N/A
3,000,000.00 3,000,000.00 3,000,000.00 10% 10% 3,600,000.00
ExportCo.,Ltd
SichuanGlassCo.,Ltd Cost 1,809,274.00 1,809,274.00 1,809,274.00 0.64% 0.64% N/A
ZhongFaLianInvestmentCo., Cost N/A
21,000,000.00 21,000,000.00 21,000,000.00 10% 10%
Ltd
CAERI(Beijing)automotive Cost 3,000,000.00 3,000,000.00 3,000,000.00 6.89% 6.89% N/A
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Chongqing Changan Automobile Company Limited Semi-annual Report 2013
LightweightTechnology
ResearchInstitutionCo.,Ltd
Total -- 5,555,580,964.76 8,885,998,867.75 166,911,583.54 9,052,910,451.29 -- -- -- 1,627,013,203.42
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Chongqing Changan Automobile Company Limited Semi-annual Report 2013
4、Operatingrevenueandcost
（1）Operatingrevenue,operatingcost
Item Report period Same period of last year
Operatingrevenue 15,450,282,803.05 9,620,016,730.02
Otheroperatingrevenue 565,783,991.47 575,129,896.52
Total 16,016,066,794.52 10,195,146,626.54
Operatingcost 13,418,745,332.34 8,423,068,569.27
（2）Mainbusiness(divisions)
Report period Same period of last year
Industry
Revenue Costofsales Revenue Costofsales
motor industry 15,450,282,803.05 12,984,727,449.95 9,620,016,730.02 8,018,294,034.81
Total 15,450,282,803.05 12,984,727,449.95 9,620,016,730.02 8,018,294,034.81
（3）Mainbusiness(product)
Industry Report period Same period of last year
Revenue Costofsales Revenue Costofsales
Salesofgoods 15,341,532,627.44 12,898,118,918.70 9,525,995,963.44 7,925,172,160.90
Outsourcingprocessing 108,750,175.61 86,608,531.25 94,020,766.58 93,121,873.91
Total 15,450,282,803.05 12,984,727,449.95 9,620,016,730.02 8,018,294,034.81
（4）Operatingrevenuefromtopfivecustomersareasfollows
Customer Amount Proportionoftotal
operatingrevenue(%)
First 773,540,431.95 4.83%
Second 504,726,331.69 3.15%
Third 424,877,733.74 2.65%
Fourth 383,413,503.51 2.39%
Fifth 338,783,602.21 2.12%
Total 2,425,341,603.10 15.14%
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Chongqing Changan Automobile Company Limited Semi-annual Report 2013
5、Investmentincome
（1）Detailsofinvestmentincome
Item Report period Same period of last year
Long‐termequityinvestmentincomeundercostmethod 27,013,203.42
Long‐termequityinvestmentincomeunderequitymethod 1,774,141,795.34 730,922,472.73
Long‐termequityinvestmentincomethroughdisposal -250,733.75
Others 1,775,000.00
Long‐termequityinvestmentincomeundercostmethod 4,283,333.33
Total 1,806,962,598.34 730,922,472.73
（2）Long‐termequityinvestmentincomeundercostmethod
Same period of last
Investee Report period Reason
year
Chongqing antell import and export trade
3,600,000.00 The current dividend
co., LTD
China South Industry Group Finance Co.,
23,413,203.42 The current dividend
Ltd
Total 27,013,203.42 0 --
（3）Long‐termequityinvestmentincomeunderequitymethod
Same period of last
Investee Report period Reason
year
ChanganFordAutomobileCo.,Ltd. 1,584,630,561.86 542,930,665.30 Increaseinprofitduetosalesexpansion
ChongqingChanganSuzukiAutomobile
-10,689,200.00 51,674,154.43 Decreaseinprofitduetosalesreduction
Co.,Ltd
JianglingHoldingCo.,Ltd 155,842,970.80 131,214,820.76 Investmentincomeincrease,theprofitincrease
NewjointventuresplitfromChanganFordMazda
ChanganMazdaAutomobileCo.,Ltd 10,900,338.98
AutomobileCo.,Ltd.
ChanganFordMazdaEngineCo.,Ltd 36,665,597.19 6,056,425.12 Increaseinprofitduetosalesexpansion
ChongqingHelpGoInformation
0.00 -1,460,080.64 Companyliquidationhasbeencancelled
TechnologyCo.,Ltd
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Chongqing Changan Automobile Company Limited Semi-annual Report 2013
ChongqingXiyiAutomobileLinkageRod
567,393.25 506,487.76
Co.,Ltd
ChongqingChanganKuayueAutomobile
-288,924.39 Inthesecondhalfoflastyearthenewpurchase
Co.,Ltd
BeijingAnntaxico.,LTD -3,486,942.35 Inthesecondhalfoflastyearsetupnewcompany
Total 1,774,141,795.34 730,922,472.73 --
6、Supplementaryinformationofcashflowstatement
Supplementaryinformation Report period Same period of last year
1．Cashflowsfromoperatingactivitiescalculatedbyadjusting
-- --
thenetprofit
Netprofit 1,359,626,535.59 535,211,311.23
Add:impairmentprovisionforassets 12,550,069.07 -8,990,597.50
Fixed assets depreciation, depletion of oil and gas assets,
496,562,619.58 281,039,909.64
productivebiologicalassetsdepreciation
Amortizationofintangibleassets 148,041,544.99 111,154,358.39
Amortizationoflong‐termdeferredexpense 90,040.00 90,040.00
Amortizationofdeferredincome 3,084,916.77 205,545.70
Disposal loss(gain) on fixed assets, intangible assets and others
0.00 0.00
long‐termassets
Loss(gain)onretirementoffixedassets 0.00 0.00
Loss(gain)fromfairvaluechanges 46,842,389.71 -2,141,478.55
Financialexpense(income) -1,806,962,598.34 -730,922,472.73
Investmentloss(gain) -20,364,991.11 -54,420,394.11
Decrease(increase)indeferredtaxassets 0.00 0.00
Decrease(increase)ininventory -783,662,010.08 73,505,865.79
Decrease(increase)inoperatingreceivables 4,943,266.18 -874,613,401.42
Decrease(increase)inoperatingpayables 3,624,227,599.08 1,155,476,101.94
Others 0.00
Netcashflowsfromoperatingactivities 3,084,979,381.44 485,594,788.38
2．Majornon‐cashinvestingandfinancingactivities -- --
3．Movementofcashandcashequivalents -- --
Endingbalanceofcash 5,361,948,813.84 3,040,122,671.26
Less:beginningbalanceofcash 3,081,165,146.84 3,748,480,642.89
Increaseincashandcashequivalents 2,280,783,667.00 -708,357,971.63
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Chongqing Changan Automobile Company Limited Semi-annual Report 2013
十一、Additional information
1、Scheduleofnon‐recurringprofitandloss
Item Amount
Gainandlossarisingfromdisposalofnon‐currentassets -3,186,347.03
Governmentgrants 44,194,360.17
Investmentincomefromthefairvaluechangesofheldfortradingfinancialassetsorliabilities,
-332,407.00
andthedisposalofheldfortradingfinancialassets,liabilitiesoravailableforsalefinancialassets
Othernon‐operatingincomeandexpenses -1,454,733.16
Less:Capitaloccupiedincomefromnon‐financialentities 7,214,454.61
Effectonincometax 558,218.61
Total 31,448,199.76
2、Returnonequityandearningspershare
Currentprofit Weightedaveragereturnon Earningspershare
equity(%) BasicEPS BasicEPS
NetprofitattributabletotheCompany’s
8.23% 0.29 0.29
ordinaryshareholders
NetprofitattributabletotheCompany’s
ordinaryshareholdersafterdeducting 8.01% 0.28 0.28
non‐recurringprofitandloss
3、Thecompanyismainlytheabnormalsituationandthereasonsoftheprojecttothefinancialstatements
1. Cash and cash equivalent is up over 64.26% from the amount at the beginning of this year, due to the
increase of net cash generated from operations;
2. Accounts receivable increased 72.76% compared with the amount at the beginning of the year, mainly due
to expansion the scale of production and marketing;
3. Other receivables increased 81.04% compared with the amount at the beginning of the year, mainly due to
the increase of imprest fund and temporary payments;
4. Long-term deferred expenses increased 998.63% compared with the amount at the beginning of the year,
mainly due to the increase of Chang’an vehicle mold；
5. Short-term loans decreased 80% compared with the amount at the beginning of the year, mainly due to
repaying the bank loans;
6. Tax payables decreased 51.53% compared with the amount at the beginning of the year, mainly due to the
decrease of enterprise income tax payables and VAT;
7. Interest payables decreased 70.75% compared with the amount at the beginning of the year, mainly due to
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Chongqing Changan Automobile Company Limited Semi-annual Report 2013
paying off bond interest;
8. Other non-current liabilities decreased 37.62% compared with the amount at the beginning of the year,
caused by the sales expense of provision of transportation costs and sales discount;
9. Special Accounts Payables increased 64.18% compared with the amount at the beginning of the year,
mainly due to receiving government grant of electric motor automobiles and industrialization funds;
10. During the reporting period, operating income, operating costs, business taxes and surcharges rose by
40.63%, 39.49 and 88.98%, mainly due to the expansion of production scale and product structure
optimization;
11. The cost of sales rose by 28.69%, mainly due to the increase in transportation expenses, logistics
management fees;
12. Administration expenses rose by 33.93%, mainly due to the increase increase in development
expenditures, employee compensation, depreciation and amortization;
13. Finance costs increased RMB62.48 million, mainly to increased interest from corporate bonds;
14. Asset impairment loss increased RMB132 million, mainly due to increase of provision for inventory loss,
fixed asset impairment loss and impairment of intangible assets;
15. Investment income rose by 146.3%, mainly due to the increase of investment income of Chang’an Fute;
16. Non-operating income decreased by 54.33%, due to decreased grant in aid;
17. Income tax increased RMB71.93 million, mainly due to the increase of income tax and deferred income tax
expense.
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Chongqing Changan Automobile Company Limited Semi-annual Report 2013
IX. List of Reference Documents
Reference file directory
A semi-annual report, with the legal representative signature text;
Second, with the legal representative, director, head of the accounting work, accounting body signature and
seal of the financial statements;
Three, the board of directors and directors, senior executives signed written confirmation files;
Four, by resolution of the board of supervisors of audit opinion in writing;
Five, the reporting period the company in the China securities journal, the securities times, "Hong Kong
commercial daily" on public disclosure of the originals of all company documents and public announcement of
the manuscript.
The above reference documents required in the China securities regulatory commission, the shenzhen stock
exchange according to law and the articles of association of the company and the shareholders request
access to, the company will provide timely.
chairman：xuliuping
The board of directors approved submit date: August 29, 2013
129
