Changchai Company, Limited Interim Report 2024 (Summary)
Stock Code: 000570, 200570 Stock Name: Changchai, Changchai-B Announcement No. 2024-027
CHANGCHAI COMPANY, LIMITED
INTERIM REPORT 2024 (SUMMARY)
Part I Important Notes
This Summary is based on the full Interim Report of Changchai Company, Limited (together with its consolidated
subsidiaries, the “Company”, except where the context otherwise requires). In order for a full understanding of the
Company’s operating results, financial condition and future development plans, investors should carefully read
the aforesaid full text, which has been disclosed together with this Summary on the media designated by the China
Securities Regulatory Commission (the “CSRC”).
All the Company’s directors have attended the Board meeting for the review of this Report and its summary.
Independent auditor’s modified opinion:
□ Applicable Not applicable
Board-approved interim cash and/or stock dividend plan for ordinary shareholders:
□ Applicable Not applicable
The Company has no interim dividend plan, either in the form of cash or stock.
Board-approved interim cash and/or stock dividend plan for preference shareholders:
□ Applicable Not applicable
This Report and its summary have been prepared in both Chinese and English. Should there be any discrepancies
or misunderstandings between the two versions, the Chinese versions shall prevail.
Part II Key Corporate Information
1. Stock Profile
Changchai,
Stock name Stock code 000570, 200570
Changchai-B
Stock exchange Shenzhen Stock Exchange
Contact information Board Secretary Securities Representative
Name He Jianjiang
123 Huaide Middle Road,
Office address
Changzhou, Jiangsu, China
Tel. （86）519-68683155
E-mail address cchjj@changchai.com
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Changchai Company, Limited Interim Report 2024 (Summary)
2. Key Financial Information
Indicate by tick mark whether there is any retrospectively restated datum in the table below.
□ Yes No
H1 2024 H1 2023 Change (%)
Operating revenue (RMB) 1,495,909,152.63 1,350,517,639.85 10.77%
Net profit attributable to the listed
50,097,655.15 131,937,324.66 -62.03%
company’s shareholders (RMB)
Net profit attributable to the listed
company’s shareholders before 59,846,264.97 5,825,543.98 927.31%
exceptional gains and losses (RMB)
Net cash generated from/used in operating
-161,814,513.00 -104,796,816.75 ——
activities (RMB)
Basic earnings per share (RMB/share) 0.0710 0.1870 -62.03%
Diluted earnings per share (RMB/share) 0.0710 0.1870 -62.03%
Weighted average return on equity (%) 1.47% 3.93% -2.46%
30 June 2024 31 December 2023 Change (%)
Total assets (RMB) 5,329,179,139.07 5,159,394,958.92 3.29%
Equity attributable to the listed company’s
3,372,290,234.40 3,398,946,911.23 -0.78%
shareholders (RMB)
3. Shareholders and Their Holdings as at the end of the Reporting Period
Unit: share
Number of preference
Number of ordinary shareholders 53,323 shareholders with resumed 0
voting rights (if any)
Top 10 shareholders(excluding lending shares through refinancing)
Shares in
pledge,
Name of Nature of Shareholding Restricted marked or
Number of shares frozen
shareholder shareholder percentage shares
Shar
Status
es
Changzhou
State-owned
Investment Group 32.26% 227,663,417 56,818,181
legal person
Co., Ltd
Domestic
Chen Jian natural 0.52% 3,700,000
person N/A 0
KGI ASIA Foreign 0
0.44% 3,101,695
LIMITED legal person
Domestic
Song Yang natural 0.41% 2,871,100
person
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Changchai Company, Limited Interim Report 2024 (Summary)
Domestic
Wu Chunhua natural 0.32% 2,236,500
person
Domestic
Chen Hengjun natural 0.23% 1,649,100
person
Domestic
Li Suinan natural 0.23% 1,600,300
person
Domestic
Zhang Wenbing natural 0.22% 1,556,700
person
Domestic
Huang Guoliang natural 0.22% 1,528,891
person
BARCLAYS Foreign
0.21% 1,490,524
BANK PLC legal person
It is unknown whether there is among the top 10 public shareholders and
Related or acting-in-concert
the top 10 unrestricted public shareholders any related parties or acting-in-
parties among the shareholders
concert parties as defined in the Administrative Measures for Information
above
Regarding Shareholding Alteration.
Shareholders involved in Shareholder Chen Jian and Wu Chunhua respectively held 3,300,000
securities margin trading (if any) shares and 2,236,500 shares in the Company through their credit accounts.
4. Change of the Controlling Shareholder and the De Facto Controller in the Reporting Period
Change of the controlling shareholder in the Reporting Period:
□ Applicable Not applicable
The controlling shareholder remained the same in the Reporting Period.
Change of the de facto controller in the Reporting Period:
□ Applicable Not applicable
The de facto controller remained the same in the Reporting Period.
5. Number of Preference Shareholders and Shareholdings of Top 10 of Them
□ Applicable Not applicable
No preference shareholders in the Reporting Period.
6. Outstanding Bonds at the Date when this Report Was Authorized for Issue
□ Applicable Not applicable
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Changchai Company, Limited Interim Report 2024 (Summary)
Part III Significant Events
1. Expropriation of the Wuxing branch company’s properties on state-owned land and compensation
On 25 May 2023, the Proposal on the Intention to Sign the Agreement on the Expropriation of the Properties of
the Wuxing Branch Company on State-owned Land in Changzhou City and the Compensation was approved at
the 17th Meeting of the Ninth Board of Directors. Later, the said matter was approved at the First Extraordinary
General Meeting of Shareholders in 2023 dated 12 June 2023. As such, the Company was agreed to sign a
contract with Changzhou Zhonglou District Housing and Urban-Rural Development Bureau on the
expropriation of the Wuxing branch company’s properties on state-owned land and the compensation, with the
contractual total compensation amount being RMB117 million. On 14 June 2023, the Company signed the
Agreement on the Expropriation of the Properties of the Wuxing Branch Company on State-owned Land in
Changzhou City and the Compensation with Changzhou Zhonglou District Housing and Urban-Rural
Development Bureau, and received the first compensation payment of RMB70 million on 28 June 2023, and
received the residual compensation payment of RMB47 million on 9 January 2024.
2. Housing expropriation on state-owned land and compensation of Sanjing Branch
On 27 October 2023, the Company held the Third Meeting of the Tenth Board of Directors, deliberating on and
approving the Proposal on Signing the Sanjing Branch's Agreement on Non-residential Housing Expropriation
and Compensation in Xinbei District, Changzhou City. The matter was approved at the third extraordinary
general meeting on 14 November 2023, approving that the Company would sign agreement with the Housing
and Urban-Rural Development Bureau of Changzhou National High-tech Industrial Development Zone and the
Housing Expropriation and Compensation Service Centre of Sanjing Street, Xinbei District, Changzhou City,
regarding the housing expropriation on state-owned land and compensation of the Sanjing Branch. The total
compensation amount under the agreement was RMB99,929,900. On 29 November 2023, the Company signed
the Agreement on Non-residential Housing Expropriation and Compensation with the Housing and Urban-Rural
Development Bureau of Changzhou National High-tech Industrial Development Zone and the Housing
Expropriation and Compensation Service Centre of Sanjing Street, Xinbei District, Changzhou City. As of the
Reporting Period, the Company received the first compensation of RMB30 million.
3. Change of accounting firm appointed by the Company
On 7 December 2024, the Proposal on the Appointment of the Financial Audit Institution for 2024 and Its Audit
Expenses and the Proposal on the Appointment of the Internal Control Audit Institution for 2024 and Its Audit
Expenses were approved at the second interim meeting of the Board of Directors in 2024. Later, the said matter
was approved at the First Extraordinary General Meeting of Shareholders in 2024 dated 30 July 2024. As such
the Company agreed to appoint Zhongxinghua Certified Pubic Accounts LLP (Special General Partnership) as
the auditor of the Company's finance and internal control in 2024, with the expenses for financial audit and
internal control audit being RMB600,000 and RMB135,000 respectively.
4. Acquisition of 25% of the equity interest in Horizon Agricultural Equipment
In June 2024, the Company acquired 25% of the equity interest in Horizon Agricultural Equipment held by
Horizon Investment, and the Company now directly holds 100% of the equity interest in Horizon Agricultural
Equipment.
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