| Share’s code： | 000550 | Share’s Name： | Jiangling Motors | No.： | 2024—002 |
| 200550 | Jiangling B |
Jiangling Motors Corporation, Ltd.Public Announcement on the 2023 Annual Preliminary Results
Jiangling Motors Corporation, Ltd. and its Board members undertake that theinformation disclosed herein is truthful, accurate and complete and does notcontain any false statement, misrepresentation or major omission.
1. Preliminary Results for the Current Period
a. The period: January 1, 2023 ~ December 31, 2023b. Preliminary results: raised trend in the same direction
Unit: RMB thousand
| Item | Reporting period (2023) | Same period last year (2022) |
| Profit Attributable to the Company’s Equity Holders | Profit: 1,475,600 | Profit: 915,050 |
| YoY Change (%): 61.26% | ||
| Net Profit After Deducting Non-Recurring Profit or Loss | Profit: 995,240 | Loss: 229,670 |
| YoY Change (%):533.33% | ||
| Basic Earnings Per Share (RMB) | Profit :1.71 Per share | Profit: 1.06 Per share |
2. Communication with the Accounting Firm
The financial data concerned in the announcement are not pre-audited by CPAs. TheCompany has conducted a pre-communication with the accounting firm on thematters related to the preliminary results, and there are no major differences betweenthe Company and the accounting firm in the financial data related to theannouncement.
3. Explanation of the Reasons for the Changes in Performance
In 2023, JMC achieved a total sales volume of 310,008 units, up by 9.93% comparedwith last year, including 80,223 units of Light Bus, 62,815 units of Truck, 59,660units of Pickup, and 107,310 units of SUV
The Company’s Profit Attributable to the Company’s Equity Holders in 2023increased by 61.26% compared with that in 2022, mainly due to the increase in grossprofit brought by sales growth, the Company’s continuous cost reduction andefficiency improvement actions, such as design optimization and processimprovement, as well as the increase in profit caused by changes in Minority Interests.
Meanwhile, the increase in profits was partially offset by the assets impairmentprovisions accrued to reflect the idle long-term assets of the Company’swholly-owned subsidiary, JMC Heavy Duty Vehicle Co., Ltd., due to the terminationof the restructuring transaction.
4. Other Statements
The financial data of Year 2023 disclosed herein are preliminary accounting data,which are not audited by CPAs and might differ from the final results disclosed in theannual report. Investors are advised to pay attention to investment risk.
Board of DirectorsJiangling Motors Corporation, Ltd.January 20, 2024