Stock Code: 000570, 200570 Stock Name: Changchai, Changchai-B Announcement No. 2024-027
CHANGCHAI COMPANY, LIMITEDINTERIM REPORT 2024 (SUMMARY)Part I Important Notes
This Summary is based on the full Interim Report of Changchai Company, Limited (together with its consolidatedsubsidiaries, the “Company”, except where the context otherwise requires). In order for a full understanding of theCompany’s operating results, financial condition and future development plans, investors should carefully readthe aforesaid full text, which has been disclosed together with this Summary on the media designated by the ChinaSecurities 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 discrepanciesor misunderstandings between the two versions, the Chinese versions shall prevail.Part II Key Corporate Information
1. Stock Profile
| Stock name | Changchai, Changchai-B | Stock code | 000570, 200570 | |
| Stock exchange | Shenzhen Stock Exchange | |||
| Contact information | Board Secretary | Securities Representative | ||
| Name | He Jianjiang | |||
| Office address | 123 Huaide Middle Road, Changzhou, Jiangsu, China | |||
| Tel. | （86）519-68683155 | |||
| E-mail address | cchjj@changchai.com | |||
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 company’s shareholders (RMB) | 50,097,655.15 | 131,937,324.66 | -62.03% |
| Net profit attributable to the listed company’s shareholders before exceptional gains and losses (RMB) | 59,846,264.97 | 5,825,543.98 | 927.31% |
| Net cash generated from/used in operating activities (RMB) | -161,814,513.00 | -104,796,816.75 | —— |
| 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 shareholders (RMB) | 3,372,290,234.40 | 3,398,946,911.23 | -0.78% |
3. Shareholders and Their Holdings as at the end of the Reporting Period
Unit: share
| Number of ordinary shareholders | 53,323 | Number of preference shareholders with resumed voting rights (if any) | 0 | ||||
| Top 10 shareholders(excluding lending shares through refinancing) | |||||||
| Name of shareholder | Nature of shareholder | Shareholding percentage | Number of shares | Restricted shares | Shares in pledge, marked or frozen | ||
| Status | Shares | ||||||
| Changzhou Investment Group Co., Ltd | State-owned legal person | 32.26% | 227,663,417 | 56,818,181 | N/A | 0 | |
| Chen Jian | Domestic natural person | 0.52% | 3,700,000 | 0 | |||
| KGI ASIA LIMITED | Foreign legal person | 0.44% | 3,101,695 | ||||
| Song Yang | Domestic natural person | 0.41% | 2,871,100 | ||||
| Wu Chunhua | Domestic natural person | 0.32% | 2,236,500 | |
| Chen Hengjun | Domestic natural person | 0.23% | 1,649,100 | |
| Li Suinan | Domestic natural person | 0.23% | 1,600,300 | |
| Zhang Wenbing | Domestic natural person | 0.22% | 1,556,700 | |
| Huang Guoliang | Domestic natural person | 0.22% | 1,528,891 | |
| BARCLAYS BANK PLC | Foreign legal person | 0.21% | 1,490,524 | |
| Related or acting-in-concert parties among the shareholders above | It is unknown whether there is among the top 10 public shareholders and the top 10 unrestricted public shareholders any related parties or acting-in-concert parties as defined in the Administrative Measures for Information Regarding Shareholding Alteration. | |||
| Shareholders involved in securities margin trading (if any) | Shareholder Chen Jian and Wu Chunhua respectively held 3,300,000 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 PeriodChange 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
Part III Significant Events
1. Expropriation of the Wuxing branch company’s properties on state-owned land and compensationOn 25 May 2023, the Proposal on the Intention to Sign the Agreement on the Expropriation of the Properties ofthe Wuxing Branch Company on State-owned Land in Changzhou City and the Compensation was approved atthe 17th Meeting of the Ninth Board of Directors. Later, the said matter was approved at the First ExtraordinaryGeneral Meeting of Shareholders in 2023 dated 12 June 2023. As such, the Company was agreed to sign acontract with Changzhou Zhonglou District Housing and Urban-Rural Development Bureau on theexpropriation of the Wuxing branch company’s properties on state-owned land and the compensation, with thecontractual total compensation amount being RMB117 million. On 14 June 2023, the Company signed theAgreement on the Expropriation of the Properties of the Wuxing Branch Company on State-owned Land inChangzhou City and the Compensation with Changzhou Zhonglou District Housing and Urban-RuralDevelopment Bureau, and received the first compensation payment of RMB70 million on 28 June 2023, andreceived 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 andapproving the Proposal on Signing the Sanjing Branch's Agreement on Non-residential Housing Expropriationand Compensation in Xinbei District, Changzhou City. The matter was approved at the third extraordinarygeneral meeting on 14 November 2023, approving that the Company would sign agreement with the Housingand Urban-Rural Development Bureau of Changzhou National High-tech Industrial Development Zone and theHousing 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 totalcompensation amount under the agreement was RMB99,929,900. On 29 November 2023, the Company signedthe Agreement on Non-residential Housing Expropriation and Compensation with the Housing and Urban-RuralDevelopment Bureau of Changzhou National High-tech Industrial Development Zone and the HousingExpropriation and Compensation Service Centre of Sanjing Street, Xinbei District, Changzhou City. As of theReporting 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 AuditExpenses and the Proposal on the Appointment of the Internal Control Audit Institution for 2024 and Its AuditExpenses were approved at the second interim meeting of the Board of Directors in 2024. Later, the said matterwas approved at the First Extraordinary General Meeting of Shareholders in 2024 dated 30 July 2024. As suchthe Company agreed to appoint Zhongxinghua Certified Pubic Accounts LLP (Special General Partnership) asthe auditor of the Company's finance and internal control in 2024, with the expenses for financial audit andinternal 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 byHorizon Investment, and the Company now directly holds 100% of the equity interest in Horizon AgriculturalEquipment.