2020 Third Quarter Report of Chongqing Changan Automobile Company Limited
2020 Third Quarter Report
Of
Chongqing Changan Automobile Company Limited
October, 2020
1
2020 Third Quarter Report of Chongqing Changan Automobile Company Limited
Chapter 1 Important Notes
The Board of Directors, the Supervisory Committee and directors, supervisors and senior
management of Chongqing Changan Automobile Company Limited (hereinafter referred to as “the
Company”) hereby guarantee that no false or misleading statement or major omission was made to
the materials in this report and that they will assume all the responsibilities, individually and jointly,
for the trueness, accuracy and completeness of the contents of this report.
Except the following directors, all the directors attended the board meeting for reviewing the
third quarter report.
The name of the directors absent Positions Reasons for the absence Name of the consignee
Tan Xiaogang Director Go out on business Zhou Zhiping
Chen Quanshi Independent director Go out on business Pang Yong
Wei Xinjiang Independent director Go out on business Liu Jipeng
Lv Laisheng Director Go out on business --
The Chairman of the Board Zhu Huarong, the Chief Financial Officer Zhang Deyong and the
responsible person of the accounting institution (Accountant in charge) Chen Jianfeng hereby
declare that the Financial Statements enclosed in this report are true, accurate and complete.
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2020 Third Quarter Report of Chongqing Changan Automobile Company Limited
Chapter 2 Basic Information
I. Main accounting data and financial indicators
Does the company conduct the retrospective adjustment or restatement of previous years accounting data due to changes in
accounting policies or accounting errors?
□Yes √No
In RMB Yuan
The reporting period The same period of last year Variance (%)
Total assets 111,454,983,833.18 97,617,053,590.38 14.18%
Net assets attributable to shareholders
47,574,285,870.08 44,028,312,743.66 8.05%
of listed company
Amount of the
period from the
The reporting period Variance (%) beginning of year to Variance (%)
the end of report
term
Operating income 23,059,924,854.44 51.32% 55,841,582,333.54 23.77%
Net profit attributable to shareholders
883,806,569.75 309.70% 3,485,972,972.43 230.98%
of the Company
Net profit excluding non-recurring
gains and losses attributable to 519,048,534.49 183.52% -2,097,839,766.98 40.63%
shareholders of listed company
cash flow from operating activities - - 7,019,439,880.31 86.80%
Basic earnings per share 0.18 325.00% 0.73 232.73%
Diluted earnings per share - - - -
Increase by 2.89 Increase by 13.54
Weighted average return on net assets 1.93% 7.61%
percentage points percentage points
Accidental gain/loss item and amount
√ Applicable □ Not applicable
In RMB Yuan
Amount of the period from the beginning
Item
of year to the end of report term
Non-current asset disposal gains and losses 3,547,958,240.58
Government subsidies included in the profit and loss of the current period (Except
closely related to business operations, in accordance with the national unified standard 404,396,688.75
quota or quantitative enjoyment of government subsidies)
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2020 Third Quarter Report of Chongqing Changan Automobile Company Limited
In addition to the effective hedging business related to the normal business of the
company, the gains and losses from changes in fair value arising from the holding of
trading financial assets, derivative financial assets, trading financial liabilities,
1,960,648,739.46
derivative financial liabilities, and disposal of transactional financial assets, derivative
finance Investment income from assets, trading financial liabilities, derivative financial
liabilities and other debt investments
Gains and losses from entrusted loans 10,344,929.28
Other non-business income and expenditures other than the above items -11,478,048.37
Interest on deferred payment of funds received by non-financial enterprises 33,690,992.81
Subtract: Influenced amount of income tax 341,014,560.27
Influenced amount of miniority shareholders’ equity (after tax) 20,734,242.83
Total 5,583,812,739.41
According to “Public offering of securities information disclosure of the company's information disclosure announcement No. 1 –
non-recurring gains and losses “Public offering of securities information disclosure of the company's information disclosure
announcement No. 1 – non-recurring gains and losses” defined non-recurring items ,and Public offering of securities information
disclosure of the company's information disclosure announcement No. 1 - non-recurring gains and losses “The items listed in the
non-recurring items defined as recurring items shall be explained .
□ Applicable √Not applicable
The company in the reporting period does not base on the definition and listing of “Public offering of securities information
disclosure of the company's information disclosure announcement No. 1 – non-recurring gains and losses” about non-recurring gains
and losses to define a case of recurring profit or loss.
II. Total number of shareholders at the end of the reporting period and statement on shares
held by the top ten tradable shareholders
1. Total number of shareholders at the end of the reporting period and statement on shares held by the top
ten shareholders
Unit: share
Total number of preferred
As of the reporting period, the shareholders with voting rights
137,049 0
total number of shareholders restored at the end of the
reporting period (if any)
Top 10 Shareholders
Percentage of Pledging or freezing
Properties of Number of Conditional
Name of the shareholder total shares Amou
shareholder shares shares Share status
（%） nt
China South Industries Group Co., State-owned legal person No pledge or
20.84% 1,001,080,085 -
Ltd. shares frozen
China Changan Automobile Co., State-owned legal person 19.32% 928,044,946 No pledge or -
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2020 Third Quarter Report of Chongqing Changan Automobile Company Limited
Ltd. shares frozen
domestic general legal No pledge or
China securities finance Co, Ltd 4.88% 234,265,333 -
person shares frozen
Hong Kong Central Clearing foreign legal person No pledge or
4.79% 229,847,911 -
Company Limited shares frozen
United Prosperity (Hong Kong) foreign legal person No pledge or
3.21% 154,120,237 -
Investment Co., Limited. shares frozen
domestic general legal No pledge or
Central Huijin Investment Ltd. 1.15% 55,393,100 -
person shares frozen
foreign legal person No pledge or
GIC PRIVATE LIMITED 0.73% 35,283,393 -
shares frozen
DRAGON BILLION SELECT foreign legal person No pledge or
0.57% 27,561,583 -
MASTER FUND shares frozen
Qianhai Life Insurance Co., fund, finance products, No pledge or
0.57% 27,162,766 -
Ltd.-own funds etc. frozen
CAPE ANN GLOBAL foreign legal person No pledge or
0.50% 24,130,860 -
DEVELOPING MARKETS FUND shares frozen
Top 10 holders of unconditional shares
Amount of shares Category of shares
Name of the shareholder without sales
Category of shares Category of shares
restriction
China South Industries Group Co., Ltd. 1,001,080,085 RMB ordinary shares 1,001,080,085
China Changan Automobile Co., Ltd. 928,044,946 RMB ordinary shares 928,044,946
China securities finance Co, Ltd 234,265,333 RMB ordinary shares 234,265,333
Hong Kong Central Clearing Company Limited 229,847,911 RMB ordinary shares 229,847,911
Domestic listed foreign
United Prosperity (Hong Kong) Investment Co., Limited. 154,120,237 154,120,237
shares
Central Huijin Investment Ltd. 55,393,100 RMB ordinary shares 55,393,100
Domestic listed foreign
GIC PRIVATE LIMITED 35,283,393 35,283,393
shares
Domestic listed foreign
DRAGON BILLION SELECT MASTER FUND 27,561,583 27,561,583
shares
Qianhai Life Insurance Co., Ltd.-own funds 27,162,766 RMB ordinary shares 27,162,766
Domestic listed foreign
CAPE ANN GLOBAL DEVELOPING MARKETS FUND 24,130,860 24,130,860
shares
Among the top 10 shareholders, China South Industries Group Co., Ltd., the
Explanation on the relationship and the action alike of above
actual controller; China Changan Automobile Group Co., Ltd., the
shareholders
controlling shareholder, and its wholly owned subsidiary United Prosperity
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2020 Third Quarter Report of Chongqing Changan Automobile Company Limited
(Hong Kong) Investment Co., Limited. belong to the concerted actor
regulated by “Disclosure Administration of Shares Change Information of
The Listed Company”.
Whether the company top 10 shareholders of ordinary shares, and the top 10 circulated shareholders agreed on the repurchase
transactions during the report period
□Applicable √Not Applicable
The top 10 shareholders of ordinary shares, and the top 10 circulated shareholders have not agreed on the repurchase transactions
during the report period
2. Total number of preferred shareholders at the end of the reporting period and statement on preferred
shares held by the top ten tradable shareholders
□Applicable √Not Applicable
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2020 Third Quarter Report of Chongqing Changan Automobile Company Limited
Chapter 3 Important Matters
I. Significant changes & reasons in major accounting data, financial indicators
√Applicable □Not Applicable
In RMB Yuan
Number Balance Sheet Items Sep. 30th,2020 Jan. 1st, 2020 Changes (%)
1 Cash 21,523,795,949.13 10,066,171,353.48 113.82%
2 Transactional financial assets 417,297,862.80 2,419,476,200.00 -82.75%
3 Accounts receivable 2,168,748,567.22 838,314,076.82 158.70%
4 Inventories 4,854,582,355.32 3,375,441,488.37 43.82%
5 Contract assets 1,795,811,136.71 3,462,221,902.09 -48.13%
6 Other current assets 999,687,355.44 1,746,120,128.04 -42.75%
7 Short-term loans 380,000,000.00 229,580,000.00 65.52%
8 Contract liabilities 5,289,446,772.53 2,315,641,685.78 128.42%
9 Other payables 2,847,502,506.48 4,809,918,141.45 -40.80%
10 Long-term loans 1,555,300,000.00 55,300,000.00 2712.48%
Income Statement Items Jan-Sep 2020 Jan-Sep 2019 Changes (%)
11 Tax and surcharges 2,076,509,817.05 1,579,840,592.98 31.44%
12 General and administrative expenses 2,360,629,505.98 1,559,033,968.43 51.42%
13 Other income 404,396,688.75 762,226,068.65 -46.95%
14 Investment income 3,524,898,587.68 -522,405,370.82 774.74%
15 Gains from changes in fair value 1,816,243,496.56 127,407,169.45 1325.54%
16 Income tax expense -318,261,022.83 141,920,459.01 -324.25%
17 Net profit attributable to owners 3,485,972,972.43 -2,661,510,402.32 230.98%
Cash Flow Statement Items Jan-Sep 2020 Jan-Sep 2019 Changes (%)
18 Net cash flows from operating activities 7,019,439,880.31 3,757,823,903.36 86.80%
19 Net cash flows from investing activities 2,873,739,202.45 -3,172,586,837.66 190.58%
20 Net cash flows from financing activities 1,492,765,197.42 -413,937,943.57 460.63%
21 Net increase of cash and cash equivalents 11,344,467,853.86 202,190,712.04 5510.78%
As at the end of reporting period, the company’s total asset was 111.455 billion yuan, with 14.18% increase compared with
the beginning of the year. The total liability was 63.997 billion yuan, with 19.17% increase compared with the beginning of the
year. The debt asset ratio was 57.40%, which was 2.41 percentage points higher than that at the beginning of the year. The
substantial increase in cash was mainly due to the net cash inflow from operating activities and investment activities during the
current period. Transactional financial assets decreased significantly, mainly due to the sale of transactional financial assets. The
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2020 Third Quarter Report of Chongqing Changan Automobile Company Limited
significant increase in accounts receivable was mainly due to the changes in the scope of consolidation during the current period.
The accounts receivable in the original consolidation scope were converted into accounts receivable outside the consolidation
scope. Inventories increased substantially, mainly due to the increase in Inventories. Contract assets increased substantially, mainly
due to new energy vehicle subsidies received this year. Other current assets decreased significantly, mainly due to the decrease in
the debit balance of value-added tax payable. Short-term loans increased significantly due to the company’s new borrowings.
Contract liabilities increased significantly, mainly due to the increase in advance payments from dealers. Other payables decreased
significantly, mainly due to the transfer of CAPSA disposal funds into investment income. The substantial increase in long-term
loans was due to the company's new special loans this year.
During the reporting period, taxes and surcharges increased sharply, mainly due to the increase in income, which caused the
increase in value-added tax, consumption tax and surcharges. The general and administrative expenses increased significantly,
mainly due to changes in organization and prepaid wages. Other income decreased significantly, mainly due to the decrease in
government financial subsidies obtained. Investment income increased significantly, mainly due to the income from the mixed
reform of new energy technology companies and the sale of CAPSA equity. Gains from changes in fair value increased
significantly, mainly due to changes in fair value of transactional financial assets. Income tax expense decreased significantly,
mainly due to the increase in deductible temporary differences. The net profit attributable to the owners increased significantly,
mainly due to the company's sales growth, product structure optimization, substantial improvement in profitability of independent
businesses, and steady increase in profitability of joint venture businesses. At the same time, non-recurring gains and losses
increased by approximately 5.6 billion yuan in net profit attributable to shareholders of listed companies.
During the reporting period, the net increase of cash and cash equivalents increased significantly, mainly due to the net cash
inflow from operating activities and investment activities during the current period. The net cash flow from operating activities
increased significantly, mainly due to the increase in cash received from sales of goods and provision of labor services. The net
cash flow from investment activities increased significantly, mainly due to the sale of transactional financial assets. The net cash
flow from financing activities increased significantly, mainly due to the increase in borrowings.
II. The progress and influence of significant events and the analysis and explanation on
resolving proposal
√Applicable □Not Applicable
(1) Non-public offering of shares
On April 27, 2020, the company held the 64th meeting of the seventh board of directors, at which 13 proposals including the
"Proposal on the Company's Non-public Issuance of A Shares" were reviewed and approved, and the company plans to issue
non-public shares to specific targets. The total amount of raised funds does not exceed 6 billion yuan (including this figure). For
details, please refer to the relevant announcement disclosed by the company on the http://www.cninfo.com.cn on April 28, 2020.
On May 22, 2020, this matter was approved by the 2019 Annual General Meeting of Shareholders (Announcement No.:
2020-44).
On June 9, 2020, the company received the application acceptance form for administrative license of China Securities
Regulatory Commission (Announcement No.: 2020-52).
On July 24, 2020, the company held the third meeting of the eighth session of the board of directors, and approved 5 proposals
including the "Proposal on Adjusting the Company's 2020 Non-public Issuance of A Shares-The Validity Period of Resolutions of the
General Meeting of Shareholders". For details, please refer to the relevant announcement disclosed by the company on the
http://www.cninfo.com.cn website on July 25, 2020.
On August 10, 2020, the relevant adjustment proposal was approved by the third extraordinary general meeting of shareholders
in 2020 (Announcement No.: 2020-74).
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2020 Third Quarter Report of Chongqing Changan Automobile Company Limited
On September 18, 2020, the company received the "Reply for the Approval of Non-public Issuance of Shares by Chongqing
Changan Automobile Co., Ltd." issued by the China Securities Regulatory Commission (Announcement No.: 2020-84).
(2) Free transfer matters
On April 18, 2020, the company disclosed the "Indicative Announcement Concerning the Gratuitous Transfer of 0.71% Equity
of the Company by the Actual Controller" (Announcement No.: 2020-18). The company’s actual controller, China South Industries
Group has signed a free transfer agreement with China Power Technology Investment Holdings Co., Ltd. (hereinafter referred to as
“China Power Technology Investment Holdings”) to transfer 34,232,588 shares of Changan Automobile for free., which accounts for
0.71% of the company’s total issued shares.
On May 29, 2020, the company disclosed the "Announcement on Obtaining the Approval of the State-owned Assets Supervision
and Administration Commission of the State Council for the Gratuitous Transfer of the Company's Equity by the Actual Controller"
(Announcement No.: 2020-45). On June 19, 2020, the company disclosed the "Announcement on the Completion of Transfer
Registration for the Gratuitous Transfer of State-owned Equity of the Actual Controller" (Announcement No.: 2020-54), confirming
that the transfer and registration procedures of the above-mentioned freely transferred shares was completed, and the transfer date
was June 18, 2020.
(3) Equity incentive matters
On July 13, 2020, the company held the second meeting of the eighth session of the board of directors and approved three
proposals related to the restricted stock incentive plan. For details, please refer to the "Announcement of Resolutions of the Second
Meeting of the Eighth Board of Directors" (Announcement number: 2020-63).
Implementation progress of share repurchase
□Applicable √Not Applicable
Progress in the implementation of the reduction of share repurchase by centralized bidding
□Applicable √Not Applicable
III. Commitments made within the reporting period by the controlling shareholders,
shareholders, related party, acquirer and the company overdue and not fulfilled
□Applicable √Not Applicable
During the reporting period, the company's actual controllers, shareholders, related parties, purchasers and companies and other
commitment parties don’t have any overdue unfulfilled commitments.
IV. Securities investment
(1)Equity-holdings in financial enterprises
√Applicable □Not Applicable
Number of Percentage Percentage
Number of Book value at
Securiti Securities Initial shares held at of shares of shares Reporting period
Securities shares held at the end of the Accounting Source of
es short investment cost the beginning held at the held at the profit and loss
code the end of the period account shares
variety name （Yuan） of the period beginning of end of the （Yuan）
period（Share） （Yuan）
（Share） the period period
Southwest Transactional Initial
Stock 600369 50,000,000 35,500,000 0.63% 33,630,000 0.51% 176,893,800.00 6,856,244.22
Securities financial assets investment
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2020 Third Quarter Report of Chongqing Changan Automobile Company Limited
Transactional Initial
Stock 300750 CATL 1,000,000,821 22,999,575 1.06% 1,149,159 0.05% 240,404,062.80 1,960,539,622.40
financial assets investment
Total 1,050,000,821 58,499,575 -- 34,779,159 -- 417,297,862.80 1,967,395,866.62 -- --
(2) Derivative Investments
□ Applicable √ Not applicable
V. Progress of investment projects with raised funds
□ Applicable √ Not applicable
VI. Forecast of operation performance of 2020
The warning or a reason for a loss or a significant change of cumulative net profit from the beginning of the year to the end of the
next reporting period compared with the same period of last year
□Applicable √Not Applicable
VII. Major contracts for daily operations
□ Applicable √ Not applicable
VIII. Entrusted financial management
□Applicable √Not Applicable
During the reporting period, there is no entrusted financial management.
IX. Illegal external guarantee
□Applicable √Not Applicable
The company doesn’t violate the rules of external guarantee during the reporting period.
X. Controlling shareholder and its related parties to the listing Corporation's non-operating
funds
□Applicable √Not Applicable
During the reporting period, there is no non-operating capital occupied by the controlling shareholder and its related parties to the
listed company.
XI. Interviews and visits in the reporting period
√Applicable □Not Applicable
Date Manner Object Content discussed and material offered
For details, see the January 16, 2020 Shenzhen stock exchange interactive
2020.01.14 On-Site Survey Institution
(http://irm.cninfo.com.cn) on the Changan Automobile: January 14, 2020
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2020 Third Quarter Report of Chongqing Changan Automobile Company Limited
investor relations activities record sheet
For details, see the January 21, 2020 Shenzhen stock exchange interactive
2020.01.21 On-Site Survey Institution (http://irm.cninfo.com.cn) on the Changan Automobile: January 21, 2020
investor relations activities record sheet
For details, see the May 6, 2020 Shenzhen stock exchange interactive
"PanoramaRoadshow
2020.04.30 All investors (http://irm.cninfo.com.cn) on the Changan Automobile: April 30, 2020 investor
World" Webcast
relations activities record sheet
For details, see the May 9, 2020 Shenzhen stock exchange interactive
2020.05.07 Telephone conference Institution (http://irm.cninfo.com.cn) on the Changan Automobile: May 7, 2020 investor
relations activities record sheet
For details, see the May 9, 2020 Shenzhen stock exchange interactive
2020.05.08 Telephone conference Institution (http://irm.cninfo.com.cn) on the Changan Automobile: May 8, 2020 investor
relations activities record sheet
For details, see the May 14, 2020 Shenzhen stock exchange interactive
2020.05.12 Telephone conference Institution (http://irm.cninfo.com.cn) on the Changan Automobile: May 12, 2020 investor
relations activities record sheet(1)
For details, see the May 14, 2020 Shenzhen stock exchange interactive
2020.05.12 On-Site Survey Institution (http://irm.cninfo.com.cn) on the Changan Automobile: May 12, 2020 investor
relations activities record sheet(2)
For details, see the June 28, 2020 Shenzhen stock exchange interactive
2020.06.24 On-Site Survey Institution (http://irm.cninfo.com.cn) on the Changan Automobile: June 24, 2020 investor
relations activities record sheet
For details, see the July 17, 2020 Shenzhen stock exchange interactive
2020.07.14 Telephone conference Institution (http://irm.cninfo.com.cn) on the Changan Automobile: July 14, 2020 investor
relations activities record sheet
For details, see the July 17, 2020 Shenzhen stock exchange interactive
2020.07.15 Telephone conference Institution (http://irm.cninfo.com.cn) on the Changan Automobile: July 15, 2020 investor
relations activities record sheet
For details, see the July 17, 2020 Shenzhen stock exchange interactive
2020.07.16 Telephone conference Institution (http://irm.cninfo.com.cn) on the Changan Automobile: July 16, 2020 investor
relations activities record sheet
For details, see the July 21, 2020 Shenzhen stock exchange interactive
2020.07.17 On-Site Survey Institution (http://irm.cninfo.com.cn) on the Changan Automobile: July 17, 2020 investor
relations activities record sheet
For details, see the September 2, 2020 Shenzhen stock exchange interactive
2020.08.31 On-Site Survey Institution (http://irm.cninfo.com.cn) on the Changan Automobile: August 31, 2020
investor relations activities record sheet
For details, see the September 3, 2020 Shenzhen stock exchange interactive
2020.09.01 On-Site Survey Institution (http://irm.cninfo.com.cn) on the Changan Automobile: September 1, 2020
investor relations activities record sheet
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2020 Third Quarter Report of Chongqing Changan Automobile Company Limited
Chapter 4 Financial Statements
I. Financial Statements
1. Consolidated Balance Sheet
Prepared by: CHONGQING CHANGAN AUTOMOBILE CO., LTD.
In RMB Yuan
Account September 30, 2020 December 31, 2019
Current assets:
Cash 21,523,795,949.13 10,066,171,353.48
Transactional financial assets 417,297,862.80 2,419,476,200.00
Notes receivable 30,413,714,401.95 26,805,635,587.19
Accounts receivable 2,168,748,567.22 838,314,076.82
Prepayments 704,484,935.11 623,801,896.07
Other receivables 252,819,974.76 3,731,755,992.46
Inventories 4,854,582,355.32 3,375,441,488.37
Contract assets 1,795,811,136.71 -
Other current assets 999,687,355.44 1,746,120,128.04
Total current assets 63,130,942,538.44 49,606,716,722.43
Non-current assets:
Long-term receivables 12,285,663,719.73 11,008,336,989.09
Other equity investment 731,506,100.00 734,506,100.00
Investment properties 6,932,816.05 7,102,849.72
Fixed assets 25,868,780,947.38 26,939,490,554.19
Construction in progress 1,983,254,088.69 1,729,803,028.43
Intangible assets 5,005,050,384.40 5,209,619,313.49
Development expenditure 656,321,457.16 814,745,464.20
Goodwill 42,586,584.41 9,804,394.00
Long-term deferred expenses 11,178,367.22 14,327,639.90
Deferred tax assets 1,732,766,829.70 1,542,600,534.93
Total non-current assets 48,324,041,294.74 48,010,336,867.95
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2020 Third Quarter Report of Chongqing Changan Automobile Company Limited
Total assets 111,454,983,833.18 97,617,053,590.38
Current liabilities:
Short-term loans 380,000,000.00 229,580,000.00
Notes payable 17,247,043,895.19 13,430,543,294.23
Accounts payable 21,767,207,102.05 18,905,725,271.50
Advances from customers - 2,315,641,685.78
Contract liabilities 5,289,446,772.53 -
Payroll payable 1,447,674,590.20 1,046,335,781.91
Taxes payable 747,018,131.42 889,092,442.80
Other payables 2,847,502,506.48 4,809,918,141.45
Other current liabilities 5,097,986,867.56 4,253,942,761.77
Total current liabilities 54,823,879,865.43 45,880,779,379.44
Non-current liabilities:
Long-term loans 1,555,300,000.00 55,300,000.00
Long-term payable 733,843,848.69 857,356,423.71
Long term payroll payable 42,757,719.81 45,932,000.00
Estimated liabilities 3,333,071,776.86 3,352,580,839.28
Deferred earnings 3,351,421,757.75 3,194,291,079.21
Deferred tax liabilities 136,332,297.60 296,742,890.29
Total non-current liabilities 9,152,727,400.71 7,802,203,232.49
Total liabilities 63,976,607,266.14 53,682,982,611.93
Owners’ equity:
Share capital 4,802,648,511.00 4,802,648,511.00
Capital reserves 5,366,097,594.66 5,366,097,594.66
Other Comprehensive Income 168,429,195.19 139,994,580.19
Special reserves 78,641,781.70 47,076,242.71
Surplus reserves 2,401,324,255.50 2,401,324,255.50
Retained earnings 34,757,144,532.03 31,271,171,559.60
Equity attributable to owners 47,574,285,870.08 44,028,312,743.66
Minority interests -95,909,303.04 -94,241,765.21
Total equity 47,478,376,567.04 43,934,070,978.45
Total liabilities and owener’s equity 111,454,983,833.18 97,617,053,590.38
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2020 Third Quarter Report of Chongqing Changan Automobile Company Limited
Legal person: Zhu Huarong Chief financial officer: Zhang Deyong The head of accounting department: Chen Jianfeng
2. Balance Sheet
In RMB Yuan
Account September 30, 2020 December 31, 2019
Current assets:
Cash 17,029,501,888.30 6,563,020,335.56
Transactional financial assets 176,893,800.00 184,245,000.00
Notes receivable 29,375,242,977.48 25,837,326,483.09
Accounts receivable 5,778,121,669.49 5,094,270,365.72
Prepayments 496,420,849.75 403,105,316.24
Other receivables 1,240,530,868.92 2,597,314,344.40
Inventories 3,074,491,279.82 1,735,570,691.28
Contract assets 1,172,197,092.60 -
Other current assets 389,992,598.91 798,430,035.62
Total current assets 58,733,393,025.27 43,213,282,571.91
Non-current assets:
Long-term equity investments 15,124,868,084.61 16,052,319,271.82
Other equity investment 721,309,400.00 724,309,400.00
Fixed assets 19,285,216,175.68 20,301,231,002.41
Construction in progress 1,679,999,223.82 1,545,211,000.22
Intangible assets 3,656,821,788.41 4,030,438,649.57
Development expenditure 558,477,357.68 431,774,377.27
Long-term deferred expenses 7,428,051.29 9,719,259.84
Deferred tax assets 1,494,121,159.07 1,318,884,054.48
Total non-current assets 42,528,241,240.56 44,413,887,015.61
Total assets 101,261,634,265.83 87,627,169,587.52
Current liabilities:
Short-term loans 310,000,000.00 29,580,000.00
Notes payable 14,490,288,462.75 11,983,445,725.06
Accounts payable 19,346,216,599.63 15,601,432,751.74
Advances from customers - 1,870,992,349.08
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2020 Third Quarter Report of Chongqing Changan Automobile Company Limited
Contract liabilities 4,871,687,965.73 -
Payroll payable 1,139,239,054.00 641,340,149.30
Taxes payable 575,189,732.39 453,619,905.66
Other payables 2,537,112,623.44 4,301,257,819.04
Other current liabilities 4,130,092,838.96 3,400,065,879.02
Total current liabilities 47,399,827,276.90 38,281,734,578.90
Non-current liabilities:
Long-term loans 1,555,300,000.00 55,300,000.00
Long-term payable 162,300,028.54 285,768,478.89
Long term payroll payable 19,956,878.06 22,747,000.00
Estimated liabilities 2,485,065,446.17 2,413,434,397.36
Deferred earnings 2,141,455,899.06 2,135,615,106.85
Deferred tax liabilities 80,853,445.83 81,775,341.60
Total non-current liabilities 6,444,931,697.66 4,994,640,324.70
Total liabilities 53,844,758,974.56 43,276,374,903.60
Owners' equity:
Share capital 4,802,648,511.00 4,802,648,511.00
Capital reserves 5,014,772,792.87 5,014,772,792.87
Other comprehensive income 259,380,413.58 259,380,413.58
Special reserves 21,064,487.30 19,917,658.63
Surplus reserves 2,401,324,255.50 2,401,324,255.50
Retained earnings 34,917,684,831.02 31,852,751,052.34
Total owners' equity 47,416,875,291.27 44,350,794,683.92
Total liabilities and owners’ equity 101,261,634,265.83 87,627,169,587.52
3. Consolidated Income Statement of the reporting term
In RMB Yuan
Account Current Period Prior Period
1.Total operating revenue 23,059,924,854.44 15,239,641,870.97
Less:Operating cost 19,854,726,032.02 12,377,295,658.38
Tax and surcharges 870,223,433.60 499,570,118.20
Operating expenses 776,936,277.11 1,373,059,373.36
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2020 Third Quarter Report of Chongqing Changan Automobile Company Limited
General and administrative expenses 1,196,476,733.07 715,873,415.81
Research and development expenses 832,151,987.62 506,613,694.43
Financial expenses -56,682,430.59 -35,453,408.66
Add: Other income 188,418,733.47 141,492,994.54
Investment income 524,094,923.69 -414,068,660.88
Including: Investment income from associates and joint
309,260,124.00 -469,708,441.67
venture
Gains from changes in fair value 62,568,799.56 87,070,018.18
Credit impairment loss 6,359,894.64 -4,361,637.66
Asset impairment loss -1,970,600.37 -
Gain on disposal of assets 230,996.02 5,165,289.52
2.Operating profit 365,795,568.62 -382,018,976.85
Add: Non-operating income 8,485,196.78 5,135,954.79
Less: Non-operating expenses -209,540.54 20,336,854.47
3.Total profit 374,490,305.94 -397,219,876.53
Less: Income tax expense -508,192,319.47 25,352,762.93
4.Net profit 882,682,625.41 -422,572,639.46
Classification by going concern
Net profit from continuing operations 882,682,625.41 -422,572,639.46
Net profit from discontinued operations
Classification by ownership attribution
Net profit attributable to owners 883,806,569.75 -421,470,641.21
Minority interests -1,123,944.34 -1,101,998.25
5.Other comprehensive income, net of tax 21,667,675.63 13,299,672.07
Net after-tax net of other comprehensive income
21,667,675.63 13,299,672.07
attributable to the parent company owner
Other comprehensive income that will be reclassified
21,667,675.63 13,299,672.07
into profit or loss
Foreign currency financial statement translation
21,667,675.63 13,299,672.07
difference
6.Total comprehensive income 904,350,301.04 -409,272,967.39
Total comprehensive income attributable to owners 905,474,245.38 -408,170,969.14
Total comprehensive income attributable to minority
-1,123,944.34 -1,101,998.25
interest
7.Earnings per share
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2020 Third Quarter Report of Chongqing Changan Automobile Company Limited
Basic earnings per share 0.18 -0.08
Diluted earnings per share Not applicable Not applicable
Legal person: Zhu Huarong Chief financial officer: Zhang Deyong The head of accounting department: Chen Jianfeng
4. Income Statement of the reporting term
In RMB Yuan
Account Current Period Prior Period
1.Operating revenue 22,405,653,698.10 14,120,637,727.72
Less: Operating cost 19,804,992,963.20 12,031,564,713.41
Tax and surcharges 564,573,659.98 358,002,714.07
Operating expenses 761,720,910.64 968,592,956.55
General and administrative expenses 978,360,073.16 473,600,026.95
Research and development expenses 753,736,455.57 460,428,130.07
Financial expenses -82,499,176.26 -32,976,211.68
Add: Other income 48,537,577.77 34,022,327.37
Investment income 3,286,330,730.80 -384,329,858.65
Including: Investment income from associates and joint
393,278,347.97 -431,385,259.48
venture
Gains from changes in fair value 22,532,100.00 -15,265,000.00
Credit impairment loss 1,695,735.18 -2,514,873.36
Asset impairment loss - -
Gain on disposal of assets - 3,009,509.76
2.Operating profit 2,983,864,955.56 -503,652,496.53
Add: Non-operating income 7,238,557.75 3,122,855.88
Less: Non-operating expenses - 18,753,563.34
3.Total profit 2,991,103,513.31 -519,283,203.99
Less: Income tax expense -90,372,920.40 -3,216,467.13
4.Net profit 3,081,476,433.71 -516,066,736.86
Net profit from continuing operations 3,081,476,433.71 -516,066,736.86
Net profit from discontinued operations
5.Other comprehensive income, net of tax
6.Total comprehensive income 3,081,476,433.71 -516,066,736.86
7.Earnings per share
Basic earnings per share 0.64 -0.11
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2020 Third Quarter Report of Chongqing Changan Automobile Company Limited
Diluted earnings per share Not applicable Not applicable
5. Consolidated Income Statement from 1st January to 30th September
In RMB Yuan
Account Current Period Prior Period
1.Total operating revenue 55,841,582,333.54 45,115,421,967.81
Less: Operating cost 49,589,341,729.65 39,796,706,285.30
Tax and surcharges 2,076,509,817.05 1,579,840,592.98
Operating expenses 2,047,653,359.18 2,816,275,914.66
General and administrative expenses 2,360,629,505.98 1,559,033,968.43
Research and development expenses 2,296,706,411.04 2,226,773,353.31
Financial expenses -154,735,975.97 -132,286,117.81
Add: Other income 404,396,688.75 762,226,068.65
Investment income 3,524,898,587.68 -522,405,370.82
Including: Investment income from associates and joint
-219,022,032.89 -578,045,151.61
venture
Gains from changes in fair value 1,816,243,496.56 127,407,169.45
Credit impairment loss -16,940,224.37 -13,891,371.32
Asset impairment loss -210,213,218.08 -152,676,538.06
Gain on disposal of assets 33,659,642.99 14,557,748.80
2.Operating profit 3,177,522,460.14 -2,515,704,322.36
Add: Non-operating income 39,664,057.22 23,972,635.23
Less: Non-operating expenses 51,142,105.59 32,981,921.67
3.Total profit 3,166,044,411.77 -2,524,713,608.80
Less: Income tax expense -318,261,022.83 141,920,459.01
4.Net profit 3,484,305,434.60 -2,666,634,067.81
Classification by going concern
Net profit from continuing operations 3,484,305,434.60 -2,666,634,067.81
Net profit from discontinued operations
Classification by ownership attribution
Net profit attributable to owners 3,485,972,972.43 -2,661,510,402.32
Minority interests -1,667,537.83 -5,123,665.49
5.Other comprehensive income, net of tax 28,434,615.00 35,867,520.20
Net after-tax net of other comprehensive income 28,434,615.00 35,867,520.20
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2020 Third Quarter Report of Chongqing Changan Automobile Company Limited
attributable to the parent company owner
Other comprehensive income that will be reclassified
28,434,615.00 35,867,520.20
into profit or loss
Foreign currency financial statement translation
28,434,615.00 35,867,520.20
difference
6.Total comprehensive income 3,512,740,049.60 -2,630,766,547.61
Total comprehensive income attributable to owners 3,514,407,587.43 -2,625,642,882.12
Total comprehensive income attributable to minority
-1,667,537.83 -5,123,665.49
interest
7.Earnings per share
Basic earnings per share 0.73 -0.55
Diluted earnings per share Not applicable Not applicable
Legal person: Zhu Huarong Chief financial officer: Zhang Deyong The head of accounting department: Chen Jianfeng
6. Income Statement from 1st January to 30th September
In RMB Yuan
Account Current Period Prior Period
1.Operating revenue 52,164,573,595.47 40,925,746,049.94
Less: Operating cost 47,716,851,866.23 36,669,471,484.36
Tax and surcharges 1,326,595,162.77 1,213,169,611.10
Operating expenses 1,722,760,567.36 1,870,809,533.03
General and administrative expenses 1,704,843,597.33 781,474,535.63
Research and development expenses 2,134,550,600.79 2,170,651,071.80
Financial expenses -180,469,941.05 -121,729,573.14
Add: Other income 106,422,387.91 440,862,305.46
Investment income 5,603,470,503.46 -458,228,680.98
Including: Investment income from associates and joint
-36,967,363.11 -509,433,452.89
venture
Gains from changes in fair value 1,232,100.00 36,565,000.00
Credit impairment loss -19,418,826.10 -6,896,127.61
Asset impairment loss -162,746,163.89 -141,818,001.51
Gain on disposal of assets -10,976,304.75 9,756,936.37
2.Operating profit 3,257,425,438.67 -1,777,859,181.11
Add: Non-operating income 30,164,079.45 17,355,197.17
Less: Non-operating expenses 43,916,807.17 27,472,289.72
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2020 Third Quarter Report of Chongqing Changan Automobile Company Limited
3.Total profit 3,243,672,710.95 -1,787,976,273.66
Less: Income tax expense -176,159,000.35 96,571,829.17
4.Net profit 3,419,831,711.30 -1,884,548,102.83
Net profit from continuing operations 3,419,831,711.30 -1,884,548,102.83
Net profit from discontinued operations
5.Other comprehensive income, net of tax
6.Total comprehensive income 3,419,831,711.30 -1,884,548,102.83
7.Earnings per share
Basic earnings per share 0.71 -0.39
Diluted earnings per share Not applicable Not applicable
7. Consolidated cash flow statement
In RMB Yuan
Account Current Period Prior Period
1.Cash flows from operating activities:
Cash received from sale of goods or rendering of services 59,930,321,923.05 52,195,863,813.18
Refunds of taxes 360,670,888.01 370,518,656.33
Cash received relating to other operating activities 2,075,715,232.73 4,051,700,128.82
Subtotal of cash inflows 62,366,708,043.79 56,618,082,598.33
Cash paid for goods and services 43,414,997,218.34 41,039,472,205.53
Cash paid to and on behalf of employees 3,908,561,563.58 4,256,843,195.40
Cash paid for all types of taxes 2,917,091,828.88 2,275,961,263.72
Cash paid relating to other operating activities 5,106,617,552.68 5,287,982,030.32
Subtotal of cash outflows 55,347,268,163.48 52,860,258,694.97
Net cash flows from operating activities 7,019,439,880.31 3,757,823,903.36
2.Cashflows from investing activities:
Cash received from return on investments 1,763,103,867.38 -
Cash received from investment income 4,123,878,052.39 1,382,556,705.95
Net cash received from disposal of fixed assets, intangible assets
48,841,644.04 9,246,980.58
and other long-term assets
Cash received relating to other investing activities 18,790,704.55 2,198,000.00
Subtotal of cash inflows 5,954,614,268.36 1,394,001,686.53
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2020 Third Quarter Report of Chongqing Changan Automobile Company Limited
Cash paid for acquisition of fixed assets, intangible assets and
2,826,038,840.71 3,313,861,816.59
other long-term assets
Cash paid for acquisition of investments 150,604,996.00 936,788,517.00
Cash paid relating to other investing activities 104,231,229.20 315,938,190.60
Subtotal of cash outflows 3,080,875,065.91 4,566,588,524.19
Net cash flows from investing activities 2,873,739,202.45 -3,172,586,837.66
3.Cash flows from financing activities:
Cash received from borrowing 2,011,525,472.30 85,580,000.00
Cash received relating to other financing activities 243,609,412.22 6,166,032.98
Subtotal of cash inflows 2,255,134,884.52 91,746,032.98
Cash repayments of borrowings 361,105,472.30 52,708,100.00
Cash paid for distribution of dividends or profits and interest
31,841,983.79 119,340,285.40
expenses
Cash paid relating to other financing activities 369,422,231.01 333,635,591.15
Subtotal of cash outflows 762,369,687.10 505,683,976.55
Net cash flows from financing activities 1,492,765,197.42 -413,937,943.57
4.Effect of changes in exchange rate on cash -41,476,426.32 30,891,589.91
5.Net increase in cash and cash equivalents 11,344,467,853.86 202,190,712.04
Add: Opening balance of cash and cash equivalents 9,360,474,674.89 9,648,153,614.80
6.Closing balance of cash and cash equivalents 20,704,942,528.75 9,850,344,326.84
8. Cash Flow Statement
In RMB Yuan
Account Current Period Prior Period
1.Cash flows from operating activities:
Cash received from sale of goods or rendering of services 52,480,910,634.81 47,436,005,517.08
Cash received relating to other operating activities 723,986,897.62 2,387,245,384.10
Subtotal of cash inflows 53,204,897,532.43 49,823,250,901.18
Cash paid for goods and services 39,732,970,912.48 37,783,862,965.51
Cash paid to and on behalf of employees 2,833,913,413.03 2,963,826,773.83
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2020 Third Quarter Report of Chongqing Changan Automobile Company Limited
Cash paid for all types of taxes 1,539,194,258.50 1,594,920,019.03
Cash paid relating to other operating activities 3,406,567,463.74 4,938,851,025.43
Subtotal of cash outflows 47,512,646,047.75 47,281,460,783.80
Net cash flows from operating activities 5,692,251,484.68 2,541,790,117.38
2.Cashflows from investing activities:
Cash received from return on investments 1,942,989,489.98 -
Cash received from investment income 3,916,753,315.02 1,389,178,372.61
Net cash received from disposal of fixed assets, intangible assets
93,034.76 -
and other long-term assets
Cash received relating to other investing activities 16,388,900.00 -
Subtotal of cash inflows 5,876,224,739.76 1,389,178,372.61
Cash paid for acquisition of fixed assets, intangible assets and
1,738,710,737.94 3,084,777,049.44
other long-term assets
Cash paid for acquisition of investments 1,127,218,581.00 997,294,972.55
Cash paid relating to other investing activities - 300,000,000.00
Subtotal of cash outflows 2,865,929,318.94 4,382,072,021.99
Net cash flows from investing activities 3,010,295,420.82 -2,992,893,649.38
3.Cash flows from financing activities:
Cash received from borrowings 1,839,580,000.00 29,580,000.00
Subtotal of cash inflows 1,839,580,000.00 29,580,000.00
Cash paid for debt repayment 59,160,000.00 -
Cash paid for distribution of dividends or profits and interest
16,485,352.76 105,545,010.80
expenses
Subtotal of cash outflows 75,645,352.76 105,545,010.80
Net cash flows from financing activities 1,763,934,647.24 -75,965,010.80
4.Effect of changes in exchange rate on cash - -
5.Net increase in cash and cash equivalents 10,466,481,552.74 -527,068,542.80
Add: Opening balance of cash and cash equivalents 6,563,020,335.56 7,310,973,018.99
6.Closing balance of cash and cash equivalents 17,029,501,888.30 6,783,904,476.19
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2020 Third Quarter Report of Chongqing Changan Automobile Company Limited
II. Notes on financial statement adjustments
1. Since 2020, the first implementation of the new revenue standards, the new lease standards to adjust the
first implementation of the financial statements at the beginning of the year.
√Applicable □Not Applicable
Consolidated balance sheet
In RMB Yuan
Account December 31, 2019 January 01, 2020 Adjustment
Current assets:
Cash 10,066,171,353.48 10,066,171,353.48
Transactional financial assets 2,419,476,200.00 2,419,476,200.00
Notes receivable 26,805,635,587.19 26,805,635,587.19
Accounts receivable 838,314,076.82 838,314,076.82
Prepayments 623,801,896.07 623,801,896.07
Other receivables 3,731,755,992.46 269,534,090.37 -3,462,221,902.09
Inventories 3,375,441,488.37 3,375,441,488.37
Contract assets 3,462,221,902.09 3,462,221,902.09
Other current assets 1,746,120,128.04 1,746,120,128.04
Total current assets 49,606,716,722.43 49,606,716,722.43
Non-current assets:
Long-term receivables 11,008,336,989.09 11,008,336,989.09
Other equity investment 734,506,100.00 734,506,100.00
Investment properties 7,102,849.72 7,102,849.72
Fixed assets 26,939,490,554.19 26,939,490,554.19
Construction in progress 1,729,803,028.43 1,729,803,028.43
Intangible assets 5,209,619,313.49 5,209,619,313.49
Devlopment expenditure 814,745,464.20 814,745,464.20
Goodwill 9,804,394.00 9,804,394.00
Long-term deferred expenses 14,327,639.90 14,327,639.90
Deferred tax assets 1,542,600,534.93 1,542,600,534.93
Total non-current assets 48,010,336,867.95 48,010,336,867.95
Total assets 97,617,053,590.38 97,617,053,590.38
Current liabilities:
Short-term loans 229,580,000.00 229,580,000.00
Notes payable 13,430,543,294.23 13,430,543,294.23
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2020 Third Quarter Report of Chongqing Changan Automobile Company Limited
Accounts payable 18,905,725,271.50 18,905,725,271.50
Advances from customers 2,315,641,685.78 -2,315,641,685.78
Contract liabilities 2,315,641,685.78 2,315,641,685.78
Payroll payable 1,046,335,781.91 1,046,335,781.91
Taxes payable 889,092,442.80 889,092,442.80
Other payables 4,809,918,141.45 4,809,918,141.45
Other current liabilities 4,253,942,761.77 4,253,942,761.77
Total current liabilities 45,880,779,379.44 45,880,779,379.44
Non-current liabilities:
Long-term loans 55,300,000.00 55,300,000.00
Long-term payable 857,356,423.71 857,356,423.71
Long term payroll payable 45,932,000.00 45,932,000.00
Estimated liabilities 3,352,580,839.28 3,352,580,839.28
Deferred earnings 3,194,291,079.21 3,194,291,079.21
Deferred tax liabilities 296,742,890.29 296,742,890.29
Total non-current liabilities 7,802,203,232.49 7,802,203,232.49
Total liabilities 53,682,982,611.93 53,682,982,611.93
Owners’ equity:
Share capital 4,802,648,511.00 4,802,648,511.00
Capital reserves 5,366,097,594.66 5,366,097,594.66
Other Comprehensive Income 139,994,580.19 139,994,580.19
Special reserves 47,076,242.71 47,076,242.71
Surplus reserves 2,401,324,255.50 2,401,324,255.50
Retained earnings 31,271,171,559.60 31,271,171,559.60
Equity attributable to owners 44,028,312,743.66 44,028,312,743.66
Minority interests -94,241,765.21 -94,241,765.21
Total equity 43,934,070,978.45 43,934,070,978.45
Total liabilities and owener’s equity 97,617,053,590.38 97,617,053,590.38
Statement of adjustment
On July 5, 2017, the Ministry of Finance revised and issued "Accounting Standards for Business Enterprises No. 14-Revenue"
(Caihui [2017] No. 22). According to the requirements of the Ministry of Finance, companies listed at home and abroad at the same
time, as well as listed overseas and adopt international Financial reporting standards or corporate accounting standards for companies
that prepare financial statements will be implemented from January 1, 2018; other domestic listed companies will be implemented
from January 1, 2020; non-listed companies that implement corporate accounting standards will be implemented from 2021. It will
take effect on January 1. Due to the revision of the above corporate accounting standards, the company needs to adjust the relevant
accounting policies originally adopted.
According to the time stipulated by the Ministry of Finance, the company will implement the new revenue standard from
January 1, 2020.
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2020 Third Quarter Report of Chongqing Changan Automobile Company Limited
Balance sheet
In RMB Yuan
Account December 31, 2019 January 01, 2020 Adjustment
Current assets:
Cash 6,563,020,335.56 6,563,020,335.56
Transactional financial assets 184,245,000.00 184,245,000.00
Notes receivable 25,837,326,483.09 25,837,326,483.09
Accounts receivable 5,094,270,365.72 5,094,270,365.72
Prepayments 403,105,316.24 403,105,316.24
Other receivables 2,597,314,344.40 941,161,145.80 -1,656,153,198.60
Inventories 1,735,570,691.28 1,735,570,691.28
Contract assets 1,656,153,198.60 1,656,153,198.60
Other current assets 798,430,035.62 798,430,035.62
Total current assets 43,213,282,571.91 43,213,282,571.91
Non-current assets:
Long-term equity investments 16,052,319,271.82 16,052,319,271.82
Other equity investment 724,309,400.00 724,309,400.00
Fixed assets 20,301,231,002.41 20,301,231,002.41
Construction in progress 1,545,211,000.22 1,545,211,000.22
Intangible assets 4,030,438,649.57 4,030,438,649.57
Development expenditure 431,774,377.27 431,774,377.27
Long-term deferred expenses 9,719,259.84 9,719,259.84
Deferred tax assets 1,318,884,054.48 1,318,884,054.48
Total non-current assets 44,413,887,015.61 44,413,887,015.61
Total assets 87,627,169,587.52 87,627,169,587.52
Current liabilities:
Short-term loans 29,580,000.00 29,580,000.00
Notes payable 11,983,445,725.06 11,983,445,725.06
Accounts payable 15,601,432,751.74 15,601,432,751.74
Advances from customers 1,870,992,349.08 -1,870,992,349.08
Contract liabilities 1,870,992,349.08 1,870,992,349.08
Payroll payable 641,340,149.30 641,340,149.30
Taxes payable 453,619,905.66 453,619,905.66
Other payables 4,301,257,819.04 4,301,257,819.04
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2020 Third Quarter Report of Chongqing Changan Automobile Company Limited
Other current liabilities 3,400,065,879.02 3,400,065,879.02
Total current liabilities 38,281,734,578.90 38,281,734,578.90
Non-current liabilities:
Long-term loans 55,300,000.00 55,300,000.00
Long-term payable 285,768,478.89 285,768,478.89
Long term payroll payable 22,747,000.00 22,747,000.00
Estimated liabilities 2,413,434,397.36 2,413,434,397.36
Deferred earnings 2,135,615,106.85 2,135,615,106.85
Deferred tax liabilities 81,775,341.60 81,775,341.60
Total non-current liabilities 4,994,640,324.70 4,994,640,324.70
Total liabilities 43,276,374,903.60 43,276,374,903.60
Owners' equity:
Share capital 4,802,648,511.00 4,802,648,511.00
Capital reserves 5,014,772,792.87 5,014,772,792.87
Other comprehensive income 259,380,413.58 259,380,413.58
Special reserves 19,917,658.63 19,917,658.63
Surplus reserves 2,401,324,255.50 2,401,324,255.50
Retained earnings 31,852,751,052.34 31,852,751,052.34
Total owners' equity 44,350,794,683.92 44,350,794,683.92
Total liabilities and owners’ equity 87,627,169,587.52 87,627,169,587.52
Statement of adjustment
On July 5, 2017, the Ministry of Finance revised and issued "Accounting Standards for Business Enterprises No. 14-Revenue"
(Caihui [2017] No. 22). According to the requirements of the Ministry of Finance, companies listed at home and abroad at the same
time, as well as listed overseas and adopt international Financial reporting standards or corporate accounting standards for companies
that prepare financial statements will be implemented from January 1, 2018; other domestic listed companies will be implemented
from January 1, 2020; non-listed companies that implement corporate accounting standards will be implemented from 2021. It will
take effect on January 1. Due to the revision of the above corporate accounting standards, the company needs to adjust the relevant
accounting policies originally adopted.
According to the time stipulated by the Ministry of Finance, the company will implement the new revenue standard from
January 1, 2020.
2. Since 2020, the first implementation of the new income criteria, the new lease criteria retroactive
adjustment of the preliminary comparison data.
□Applicable √Not Applicable
III. Auditors’ Report
Whether the third quarter report has been audited
□ Yes √No
The third quarter report has not been audited.
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