Changchai Company, Limited Third Quarterly Report 2024
Stock Code: 000570, 200570 Stock Name: Changchai, Changchai-B Announcement No. 2024-033
CHANGCHAI COMPANY, LIMITED
THIRD QUARTERLY REPORT 2024
Changchai Company, Limited (hereinafter referred to as the “Company”) and all the
members of the Company’s Board of Directors hereby guarantee that the contents of this
Report are true, accurate and complete and free of any misrepresentations, misleading
statements or material omissions.
Important Notes:
1. The Board of Directors, the Supervisory Committee as well as the directors, supervisors and senior
management of the Company hereby guarantee that the contents of this Report are true, accurate and complete
and free of any misrepresentations, misleading statements or material omissions, and collectively and
individually accept legal responsibility for such contents.
2. The Company’s legal representative, General Manager, and head of the financial department (equivalent to
financial manager) hereby guarantee that the financial statements carried in this Report are true, accurate and
complete.
3. Indicate whether the financial statements in this Report have been audited by an independent auditor.
□ Yes No
I Key Financial Information
(I) Key Accounting Data and Financial Indicators
Indicate by tick mark whether there is any retrospectively restated datum in the table below.
□ Yes No
Q3 2024 YoY change (%) Q1-Q3 2024 YoY change (%)
Operating revenue
462,057,774.62 0.76% 1,957,966,927.25 8.23%
(RMB)
Net profit attributable to
the listed company’s -3,740,213.65 —— 46,357,441.50 -70.45%
shareholders (RMB)
Net profit attributable to
the listed company’s
-17,209,332.16 —— 42,636,932.81 ——
shareholders before
exceptional items (RMB)
Net cash generated
from/used in operating —— —— -310,799,569.86 ——
activities (RMB)
Basic earnings per share
-0.0053 —— 0.0657 -70.45%
(RMB/share)
Diluted earnings per
-0.0053 —— 0.0657 -70.45%
share (RMB/share)
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Changchai Company, Limited Third Quarterly Report 2024
Weighted average return
-0.11% -0.82% 1.34% -3.33%
on equity (%)
30 September 2024 31 December 2023 Change (%)
Total assets (RMB) 5,398,904,258.62 5,159,394,958.92 4.64%
Equity attributable to the
listed company’s 3,448,089,849.78 3,398,946,911.23 1.45%
shareholders (RMB)
(II) Exceptional Gains and Losses
Applicable □ Not applicable
Unit: RMB
Item Q3 2024 Q1-Q3 2024 Note
Gain or loss on disposal of
non-current assets (inclusive of
-192,127.32 216,118.22
impairment allowance write-
offs)
Government grants recognised
in profit or loss (exclusive of
those that are closely related to
the Company's normal
business operations and given
172,906.00 365,991.00
in accordance with defined
criteria and in compliance with
government policies, and have
a continuing impact on the
Company's profit or loss)
It was mainly attributable to the
financial gains arising from the
Gain or loss on fair-value
Company’s cash management
changes in financial assets and
and the changes in the fair
liabilities held by a non-
value of the stocks of Jiangsu
financial enterprise, as well as
Liance Electromechanical
on disposal of financial assets 10,507,456.38 -8,177,138.59
Technology Co., Ltd. and
and liabilities (exclusive of the
Kailong High Technology Co.,
effective portion of hedges that
Ltd. held by the Company’s
is related to the Company's
wholly-owned subsidiary
normal business operations)
Changzhou Horizon Investment
Co., Ltd.
Reversed portion of
impairment allowance for
accounts receivable which are 6,215,662.64 6,215,662.64
tested individually for
impairment
Non-operating income and
228,456.26 1,031,656.86
expense other than the above
Less: Income tax effects 3,481,348.93 -4,228,193.27
Non-controlling interests
-18,113.48 159,974.71
effects (net of tax)
Total 13,469,118.51 3,720,508.69
Other items that meet the definition of exceptional gain/loss:
□ Applicable Not applicable
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Changchai Company, Limited Third Quarterly Report 2024
No such cases in the Reporting Period.
Explanation of why the Company reclassifies as recurrent an exceptional gain/loss item listed in the
Explanatory Announcement No. 1 on Information Disclosure for Companies Offering Their Securities to the
Public—Exceptional Gain/Loss Items:
□ Applicable Not applicable
No such cases in the Reporting Period.
(III) Changes in Key Financial Statement Line Items and Explanation of why
Applicable □ Not applicable
1. Consolidated Balance Sheet Items
30 September 1 January 2024 Change
Item Explanation of why
2024 (RMB) (RMB) (%)
Increase in cash dividends, cash used in
operating activities and purchase of wealth
Monetary assets 615,448,491.57 1,083,867,966.87 -43.22%
management products in the Reporting
Period.
Increase in wealth management products
Trading financial
443,908,871.55 225,641,429.94 96.73% purchased by the Company in the Reporting
assets
Period.
Increase of accounts receivable since most of
the Company’s multi-cylinder diesel engine
customers are supporting companies of main
Accounts engine, which are usually given longer
1,251,532,755.81 316,543,159.91 295.38%
receivable payment days and the Company properly
allowed customers’ buying on credit for
more markets to step up efforts to expand the
market.
Decrease in bank acceptance bills with
Receivables
48,891,443.83 195,875,948.92 -75.04% higher credit rating held by the Company at
financing
the end of the Reporting Period.
Receiving the remaining housing
Other receivables 5,616,318.99 49,699,753.61 -88.70% expropriation compensation of Changzhou
Wuxing Branch Company.
Current portion of Expiration of three-year fixed time deposits
0.00 40,773,509.75 -100.00%
non-current assets during the Reporting Period.
Construction in Increase in input of the Company in
6,415,304.75 4,275,622.18 50.04%
progress technical transformation project.
This mainly resulted from the increase in bad
Deferred income
4,174,238.86 1,518,995.79 174.80% debt provision, which led to an increase in
tax assets
deferred tax assets.
Other non-current Decrease in prepayment for purchasing
1,439,496.77 2,578,776.77 -44.18%
assets equipment in the Reporting Period.
This is mainly due to the fact that companies
Notes payable 723,830,422.54 528,139,582.33 37.05% pay for goods in the form of bank drafts
more often.
Receiving the first installment of
Advances from
30,499,552.75 1,647,441.22 1751.33% compensation for Sanjing Land in advance in
customers
the Reporting Period.
Employee benefits Salaries and bonuses accrued last period
10,173,471.06 47,738,883.57 -78.69%
payable were paid in the Reporting Period.
Other current 44,296,616.19 67,069,965.96 -33.95% Expiration of payment business for
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Changchai Company, Limited Third Quarterly Report 2024
liabilities unexpired but transferred notes.
2. Consolidated Income Statement Items for Q1~Q3
Q1~Q3 2024 Q1~Q3 2023 Change
Item Explanation of why
(RMB) (RMB) (%)
Increased exchange gains and decreased
Finance costs -9,749,152.97 -4,386,564.04 ——
interest expenses.
Decrease in the fair value of stocks of
Jiangsu Liance Electromechanical
Technology Co., Ltd. and Kailong High
Gain on changes Technology Co., Ltd. held by the Company’s
-25,457,675.31 50,146,450.23 ——
in fair value wholly-owned subsidiary Changzhou
Horizon Investment Co., Ltd. in the
Reporting Period compared to the beginning
of the period.
Expropriation of constructions on the state-
Asset disposal owned land of Changzhou Wuxing Branch
216,118.22 105,700,898.12 -99.80%
income Company in the previous period, while there
was no such matter in the current period.
Non-operating Disposal of non-payments during the
1,406,648.75 635,091.37 121.49%
income Reporting Period.
Non-operating Decreased abandonment losses during the
374,991.89 2,376,057.47 -84.22%
expense Reporting Period.
This mainly resulted from the decrease in
Income tax
6,488,637.31 12,136,766.20 -46.54% profits during the reporting period and the
expense
changes in deferred tax assets and liabilities.
Expropriation of constructions on the state-
owned land of Changzhou Wuxing Branch
Company in the previous period and increase
in fair value of equity held by the Company
Net profit in Jiangsu Horizon New Energy Technology
attributable to Co., Ltd., while there were no such matters in
shareholders of 46,357,441.50 156,869,023.89 -70.45% the current period; Decrease in the fair value
the Company as of stocks of Jiangsu Liance
the parent Electromechanical Technology Co., Ltd. and
Kailong High Technology Co., Ltd. held by
the Company’s wholly-owned subsidiary
Changzhou Horizon Investment Co., Ltd.
compared to the beginning of the period.
3. Consolidated Cash Flow Statement Items for Q1~Q3
Q1~Q3 2024 Q1~Q3 2023 Change
Item Explanation of why
(RMB) (RMB) (%)
Most of the Company’s multi-cylinder diesel
engine customers are supporting companies
Net cash
of main engine, which are usually given
generated
longer payment days and the Company
from/used in -310,799,569.86 -214,128,249.30 ——
properly allowed customers’ buying on
operating
credit for more markets to step up efforts to
activities
expand the market, relative to the capital
return of less.
Net cash Increase in investment in wealth
generated management in the Reporting Period
-196,693,373.04 12,802,394.50 ——
from/used in
investing
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Changchai Company, Limited Third Quarterly Report 2024
activities
Net cash Increase in the amount of cash dividends
generated paid by the Company during the Reporting
from/used in -33,171,402.31 -8,773,914.91 —— Period in order to improve the return on
financing investment
activities
II Shareholder Information
(I) Numbers of Ordinary Shareholders and Preference Shareholders with Resumed Voting Rights as well
as Holdings of Top 10 Shareholders
Unit: share
Number of ordinary Number of preference shareholders with
51,659 0
shareholders resumed voting rights (if any)
Top 10 shareholders (exclusive of shares lent in refinancing)
Restricted Shares in pledge, marked or
Name of Nature of Shareholding Total shares
shares frozen
shareholder shareholder percentage held
held Status Shares
Changzhou
Investment State-owned
32.26% 227,663,417
Group Co., corporation
Ltd.
Domestic
Chen Jian 0.55% 3,915,600
individual
KGI ASIA Foreign
0.44% 3,100,195
LIMITED corporation
Domestic
Wu Chunhua 0.32% 2,236,500
individual
Chen Domestic 0 N/A 0
0.23% 1,649,100
Hengjun individual
Domestic
Li Suinan 0.23% 1,600,300
individual
Zhang Domestic
0.22% 1,556,700
Wenbing individual
Huang Domestic
0.22% 1,528,891
Guoliang individual
Domestic
Lu Zhang 0.21% 1,486,743
individual
Domestic
Xue Hong 0.20% 1,380,600
individual
Top 10 unrestricted shareholders (exclusive of shares lent in refinancing and locked shares of executives)
Shares by class
Name of shareholder Unrestricted shares held
Class Shares
RMB-
Changzhou Investment Group
227,663,417 denominated 227,663,417
Co., Ltd.
ordinary share
RMB-
Chen Jian 3,915,600 denominated 3,915,600
ordinary share
Domestically
KGI ASIA LIMITED 3,100,195 listed foreign 3,100,195
share
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Changchai Company, Limited Third Quarterly Report 2024
RMB-
Wu Chunhua 2,236,500denominated 2,236,500
ordinary share
RMB-
Chen Hengjun 1,649,100 denominated 1,649,100
ordinary share
Domestically
Li Suinan 1,600,300 listed foreign 1,600,300
share
RMB-
Zhang Wenbing 1,556,700 denominated 1,556,700
ordinary share
Domestically
Huang Guoliang 1,528,891 listed foreign 1,528,891
share
Domestically
Lu Zhang 1,486,743 listed foreign 1,486,743
share
Domestically
Xue Hong 1,380,600 listed foreign 1,380,600
share
It is unknown whether there is among the top 10 public
shareholders and the top 10 unrestricted public shareholders
Related or acting-in-concert parties among the
any related parties or acting-in-concert parties as defined in
shareholders above
the Administrative Measures for Information Regarding
Shareholding Alteration.
Shareholders Chen Jian and Wu Chunhua respectively held
Top 10 shareholders engaged in securities
3,915,600 and 2,236,500 shares in the Company through their
margin trading
credit accounts.
5% or greater shareholders, top 10 shareholders and Top 10 unrestricted shareholders involved in refinancing
shares lending
□Applicable Not applicable
Changes in top 10 shareholders and top 10 unrestricted shareholders due to refinancing shares lending/return
compared with the prior period
□Applicable Not applicable
(II) Number of Preference Shareholders and Shareholdings of Top 10 of Them
□ Applicable Not applicable
III Other Significant Events
Applicable □ Not applicable
On 29 August 2024, the Company convened the 4th Extraordinary Meeting of the Board of Directors and
approved the Proposal on Capital Increase in Jiangsu Changchai Machinery Co., Ltd. The Board agreed that
the Company would increase the capital of its wholly-owned subsidiary Jiangsu Changchai Machinery Co., Ltd.
by RMB291,835,919.91 (including the unpaid interest on the loan of RMB4,958,090.18) by way of transferring
debts to capital surplus, and the entire amount of the capital increase would be included into capital surplus. As
of the end of the Reporting Period, the Company has completed the capital increase in Jiangsu Changchai
Machinery Co., Ltd.
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Changchai Company, Limited Third Quarterly Report 2024
IV Quarterly Financial Statements
(I) Financial Statements
1. Consolidated Balance Sheet
Prepared by Changchai Company, Limited
30 September 2024
Unit: RMB
30 September 2024 1 January 2024
Current assets:
Monetary assets 615,448,491.57 1,083,867,966.87
Settlement reserve
Loans to other banks and
financial institutions
Held-for-trading financial
443,908,871.55 225,641,429.94
assets
Derivative financial assets
Notes receivable 137,258,968.27 161,632,567.94
Accounts receivable 1,251,532,755.81 316,543,159.91
Receivables financing 48,891,443.83 195,875,948.92
Prepayments 14,046,192.48 12,333,310.85
Premiums receivable
Reinsurance receivables
Receivable reinsurance contract
reserve
Other receivables 5,616,318.99 49,699,753.61
Including: Interest
receivable
Dividends
receivable
Financial assets purchased
under resale agreements
Inventories 616,704,313.56 789,220,185.68
Including: Data resource
Contract assets
Assets held for sale 2,951,451.11
Current portion of non-current
40,773,509.75
assets
Other current assets 15,166,800.73 20,910,504.84
Total current assets 3,151,525,607.90 2,896,498,338.31
Non-current assets:
Loans and advances to
customers
Debt investments
Other debt investments
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Changchai Company, Limited Third Quarterly Report 2024
Long-term receivables
Long-term equity investments
Investments in other equity
1,009,502,025.67 969,488,025.67
instruments
Other non-current financial
412,914,576.80 412,914,576.80
assets
Investment property 38,265,022.94 39,837,558.11
Fixed assets 623,207,067.13 675,596,920.95
Construction in progress 6,415,304.75 4,275,622.18
Productive living assets
Oil and gas assets
Right-of-use assets
Intangible assets 143,901,435.67 148,458,185.68
Including: Data resource
Development costs
Including: Data resource
Goodwill
Long-term prepaid expense 7,559,482.13 8,227,958.66
Deferred income tax assets 4,174,238.86 1,518,995.79
Other non-current assets 1,439,496.77 2,578,776.77
Total non-current assets 2,247,378,650.72 2,262,896,620.61
Total assets 5,398,904,258.62 5,159,394,958.92
Current liabilities:
Short-term borrowings
Borrowings from the central
bank
Loans from other banks and
financial institutions
Held-for-trading financial
liabilities
Derivative financial liabilities
Notes payable 723,830,422.54 528,139,582.33
Accounts payable 612,980,631.68 641,484,184.05
Advances from customers 30,499,552.75 1,647,441.22
Contract liabilities 38,261,365.80 33,352,877.66
Financial assets sold under
repurchase agreements
Customer deposits and deposits
from other banks and financial
institutions
Payables for acting trading of
securities
Payables for underwriting of
securities
Employee benefits payable 10,173,471.06 47,738,883.57
Taxes and levies payable 6,437,433.36 6,231,169.74
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Changchai Company, Limited Third Quarterly Report 2024
Other payables 205,701,020.97 159,023,382.81
Including: Interest payable
Dividends
3,891,433.83 3,891,433.83
payable
Fees and commissions payable
Reinsurance payables
Liabilities directly associated
with assets held for sale
Current portion of non-current
liabilities
Other current liabilities 44,296,616.19 67,069,965.96
Total current liabilities 1,672,180,514.35 1,484,687,487.34
Non-current liabilities:
Insurance contract reserve
Long-term borrowings
Bonds payable
Including: Preference
shares
Perpetual bonds
Lease liabilities
Long-term payables
Long-term employee benefits
payable
Provisions
Deferred income 30,238,599.38 32,795,896.48
Deferred income tax liabilities 171,138,844.36 171,843,455.52
Other non-current liabilities
Total non-current liabilities 201,377,443.74 204,639,352.00
Total liabilities 1,873,557,958.09 1,689,326,839.34
Owners’ equity:
Share capital 705,692,507.00 705,692,507.00
Other equity instruments
Including: Preference
shares
Perpetual bonds
Capital reserves 640,509,675.84 640,509,675.84
Less: Treasury stock
Other comprehensive income 701,192,221.82 667,180,321.82
Specific reserve 21,373,234.40 19,432,089.52
Surplus reserves 363,695,592.34 363,695,592.34
General reserve
Retained earnings 1,015,626,618.38 1,002,436,724.71
Total equity attributable to owners
3,448,089,849.78 3,398,946,911.23
of the Company as the parent
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Changchai Company, Limited Third Quarterly Report 2024
Non-controlling interests 77,256,450.75 71,121,208.35
Total owners’ equity 3,525,346,300.53 3,470,068,119.58
Total liabilities and owners’ equity 5,398,904,258.62 5,159,394,958.92
Legal representative: Xie Guozhong General Manager: Xie Guozhong
Head of the accounting department: Jiang He
2. Consolidated Income Statement for Q1~Q3
Unit: RMB
Item Q1~Q3 2024 Q1~Q3 2023
1. Revenues 1,957,966,927.25 1,809,074,804.85
Including: Operating revenue 1,957,966,927.25 1,809,074,804.85
Interest income
Insurance premium income
Fee and commission income
2. Costs and expenses 1,880,745,679.29 1,793,921,012.03
Including: Cost of sales 1,640,211,081.77 1,550,178,804.98
Interest expense
Fee and commission expense
Surrenders
Net insurance claims paid
Net amount provided as insurance contract
reserve
Expenditure on policy dividends
Reinsurance premium expense
Taxes and levies 12,703,429.37 11,219,574.86
Selling expense 99,502,748.28 91,990,466.03
Administrative expense 81,859,808.25 76,256,928.17
R&D expense 56,217,764.59 68,661,802.03
Finance costs -9,749,152.97 -4,386,564.04
Including: Interest expense 1,893,598.30 4,289,281.12
Interest income 8,523,735.87 8,242,392.28
Add: Other income 2,979,040.74 4,244,083.10
Return on investment (“-” for loss) 15,776,718.57 17,099,924.85
Including: Share of profit or loss of joint ventures
and associates
Income from the derecognition of
financial assets at amortized cost (“-” for loss)
Exchange gain (“-” for loss)
Net gain on exposure hedges (“-” for loss)
Gain on changes in fair value (“-” for loss) -25,457,675.31 50,146,450.23
Credit impairment loss (“-” for loss) -12,325,470.52 -14,981,433.04
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Changchai Company, Limited Third Quarterly Report 2024
Asset impairment loss (“-” for loss) -460,315.31 -565,273.49
Asset disposal income (“-” for loss) 216,118.22 105,700,898.12
3. Operating profit (“-” for loss) 57,949,664.35 176,798,442.59
Add: Non-operating income 1,406,648.75 635,091.37
Less: Non-operating expense 374,991.89 2,376,057.47
4. Gross profit (“-” for loss) 58,981,321.21 175,057,476.49
Less: Income tax expense 6,488,637.31 12,136,766.20
5. Net profit (“-” for net loss) 52,492,683.90 162,920,710.29
5.1 By operating continuity
5.1.1 Net profit from continuing operations (“-” for net
52,492,683.90 162,920,710.29
loss)
5.1.2 Net profit from discontinued operations (“-” for
net loss)
5.2 By ownership
5.2.1 Net profit attributable to shareholders of the
46,357,441.50 156,869,023.89
Company as the parent (“-” for net loss)
5.2.2 Net profit attributable to non-controlling interests
6,135,242.40 6,051,686.40
(“-” for net loss)
6. Other comprehensive income, net of tax 34,011,900.00 77,648,350.00
Attributable to owners of the Company as the parent 34,011,900.00 77,648,350.00
6.1 Items that will not be reclassified to profit or loss 34,011,900.00 77,648,350.00
6.1.1 Changes caused by remeasurements on defined
benefit schemes
6.1.2 Other comprehensive income that will not be
reclassified to profit or loss under the equity method
6.1.3 Changes in the fair value of investments in other
34,011,900.00 77,648,350.00
equity instruments
6.1.4 Changes in the fair value arising from changes in
own credit risk
6.1.5 Other
6.2 Items that will be reclassified to profit or loss
6.2.1 Other comprehensive income that will be
reclassified to profit or loss under the equity method
6.2.2 Changes in the fair value of other debt
investments
6.2.3 Other comprehensive income arising from the
reclassification of financial assets
6.2.4 Credit impairment allowance for other debt
investments
6.2.5 Reserve for cash flow hedges
6.2.6 Differences arising from the translation of
foreign currency-denominated financial statements
6.2.7 Other
Attributable to non-controlling interests
7. Total comprehensive income 86,504,583.90 240,569,060.29
7.1 Attributable to owners of the Company as the parent 80,369,341.50 234,517,373.89
7.2 Attributable to non-controlling interests 6,135,242.40 6,051,686.40
8. Earnings per share
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Changchai Company, Limited Third Quarterly Report 2024
8.1 Basic earnings per share 0.0657 0.2223
8.2 Diluted earnings per share 0.0657 0.2223
Legal representative: Xie Guozhong General Manager: Xie Guozhong
Head of the accounting department: Jiang He
3. Consolidated Cash Flow Statement for Q1~Q3
Unit: RMB
Item Q1~Q3 2024 Q1~Q3 2023
1. Cash flows from operating activities:
Proceeds from sale of commodities and rendering of
1,322,840,250.44 1,446,377,641.19
services
Net increase in customer deposits and deposits from other
banks and financial institutions
Net increase in borrowings from the central bank
Net increase in loans from other financial institutions
Premiums received on original insurance contracts
Net proceeds from reinsurance
Net increase in deposits and investments of policy holders
Interest, fees and commissions received
Net increase in loans from other banks and financial
institutions
Net increase in proceeds from repurchase transactions
Net proceeds from acting trading of securities
Tax and levy rebates 16,822,139.93 88,252,376.59
Cash generated from other operating activities 13,572,617.70 15,970,772.52
Subtotal of cash generated from operating activities 1,353,235,008.07 1,550,600,790.30
Payments for commodities and services 1,263,331,531.66 1,374,158,537.72
Net increase in loans and advances to customers
Net increase in deposits in the central bank and other banks
and financial institutions
Payments for claims on original insurance contracts
Net increase in loans to other banks and financial
institutions
Interest, fees and commissions paid
Policy dividends paid
Cash paid to and for employees 224,982,336.51 242,312,537.73
Taxes and levies paid 45,480,904.08 31,292,358.05
Cash used in other operating activities 130,239,805.68 116,965,606.10
Subtotal of cash used in operating activities 1,664,034,577.93 1,764,729,039.60
Net cash generated from/used in operating activities -310,799,569.86 -214,128,249.30
2. Cash flows from investing activities:
Proceeds from disinvestment 601,500,000.00 877,716,751.99
Return on investment 15,776,718.57 17,099,924.85
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Changchai Company, Limited Third Quarterly Report 2024
Net proceeds from the disposal of fixed assets, intangible
76,476,578.33 58,171,702.95
assets and other long-lived assets
Net proceeds from the disposal of subsidiaries and other
business units
Cash generated from other investing activities
Subtotal of cash generated from investing activities 693,753,296.90 952,988,379.79
Payments for the acquisition of fixed assets, intangible
14,652,345.94 150,108,371.29
assets and other long-lived assets
Payments for investments 875,794,324.00 790,077,614.00
Net increase in pledged loans granted
Net payments for the acquisition of subsidiaries and other
business units
Cash used in other investing activities
Subtotal of cash used in investing activities 890,446,669.94 940,185,985.29
Net cash generated from/used in investing activities -196,693,373.04 12,802,394.50
3. Cash flows from financing activities:
Capital contributions received
Including: Capital contributions by non-controlling
interests to subsidiaries
Borrowings received
Cash generated from other financing activities
Subtotal of cash generated from financing activities
Repayment of borrowings
Interest and dividends paid 33,171,402.31 8,773,914.91
Including: Dividends paid by subsidiaries to non-
controlling interests
Cash used in other financing activities
Subtotal of cash used in financing activities 33,171,402.31 8,773,914.91
Net cash generated from/used in financing activities -33,171,402.31 -8,773,914.91
4. Effect of foreign exchange rates changes on cash and cash
equivalents
5. Net increase in cash and cash equivalents -540,664,345.21 -210,099,769.71
Add: Cash and cash equivalents, beginning of the period 971,629,523.46 810,350,966.05
6. Cash and cash equivalents, end of the period 430,965,178.25 600,251,196.34
Legal representative: Xie Guozhong General Manager: Xie Guozhong
Head of the accounting department: Jiang He
(II) Adjustments to Financial Statement Items at the Beginning of the Year of the First Implementation
of the New Accounting Standards Implemented since 2024
□ Applicable Not applicable
(III) Independent Auditor’s Report
Indicate by tick mark whether the financial statements above have been audited by an independent auditor.
13
Changchai Company, Limited Third Quarterly Report 2024
□Yes No
These financial statements have not been audited by such an auditor.
The Board of Directors
Changchai Company, Limited
30 October 2024
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