2016 First Quarter Report
Of
Chongqing Changan Automobile Company Limited
April, 2016
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”) warrant that this
report does not contain any false or misleading statements or omit any material facts and all information set forth
herein is true, accurate and complete.
All directors attended the board meeting for reviewing the first quarter report.
Chairman Mr. Xu Liuping, Chief Accountants Mr. Wang Kun and Mr.Hua Zhanbiao guarantee the
truthfulness and completeness of the financial statements of the quarter report.
Chapter 2 Changes in Key Financial Data and Shareholders
2.1 Main accounting financial data
During the reporting period the previous financial data whether the retroactive adjustment or restatement
□Yes √No
In RMB Yuan
The same period last Changed (%)
The reporting period
year
Operating income 19,337,756,565.65 18,197,185,337.09 6.27%
Net profit attributable to shareholders of
2,673,017,139.39 2,494,491,155.26 7.16%
the Company
Net profit excluding non-recurring gains
and losses attributable to shareholders of 2,529,388,182.32 2,349,996,871.48 7.63%
listed company
cash flow from operating activities 1,615,418,932.11 2,773,784,253.36 -41.76%
Basic earnings per share 0.57 0.53 7.55%
Diluted earnings per share N/A N/A N/A
Weighted average return on net assets 7.49% 9.28% -1.79%
This reporting period End of 2015 Changed (%)
Total assets 94,787,608,469.12 89,413,988,669.66 6.01%
Net assets attributable to shareholders of
37,025,759,117.77 34,385,189,070.36 7.68%
listed company
Accidental gain/loss item and amount
√ Applicable □ Not applicable
In RMB Yuan
Amount of the period from the
Item beginning of year to the end of Explanation
report term
Gain/loss of non-current assets -6,061,812.25
Government subsidies accounted into current gain/loss account, other than
those closely related to the Company’s common business, comply with the 186,834,715.50
national policy and continues to enjoy at certain fixed rate or amount.
Other non-business income and expenditures other than the above -2,373,865.80
Less: Influenced amount of income tax 34,413,043.02
Influenced amount of minority shareholders’ equity 357,037.36
Total 143,628,957.07
For the Company’s non-recurring gain/loss items as defined in the Explanatory Announcement No.1 on information disclosure for
Companies Offering their Securities to the Public-Non-recurring Gains and Losses and its non-recurring gain/loss items as illustrated
in the Explanatory Announcement No.1 on information Disclosure for Companies offering their securities to the public-non-recurring
Gains and losses which have been defined as recurring gains and losses, it is necessary to explain the reason.
□ Applicable √ Not applicable
In reporting period, the Company has no particular items defined as recurring profit (gain)/loss according to the lists of extraordinary
profit (gain)/loss in Q&A Announcement No.1 on Information Disclosure for Companies Offering Their Securities to the Public ---
Extraordinary Profit/loss.
2.2 Total number of shareholders at the end of the report period and statement on shares held by the top
ten tradable shareholders
2.2.1 Total number of shareholders at the end of the report period and statement on shares held by the top ten
tradable shareholders
Unit: share
As of the reporting period, the total Totaled 157,575, of which 138,119 was A share shareholders and 19,456 were B share
number of shareholders shareholders.
Top 10 Shareholders
Properties of Shareholding Number of Conditional Pledging or freezing
Name of the shareholder
shareholder (%) shares shares Share status Amount
State-owned legal No pledge or
China Changan Automobile Co., Ltd. 39.11% 1,823,595,216 373,358,342
person shares frozen
domestic general No pledge or
China securities finance Co, Ltd 2.99% 139,422,848
legal person shares frozen
domestic general No pledge or
Central Huijin Investment Ltd. 1.19% 55,393,100
legal person shares frozen
United Prosperity Investment Co., foreign legal No pledge or
0.97% 45,195,100
Limited person shares frozen
foreign legal No pledge or
GIC PRIVATE LIMITED 0.91% 42,473,436
person shares frozen
HTHK-MANULIFE CHINA VALUE foreign legal No pledge or
0.74% 34,519,781
FUND person shares frozen
National Social Security Fund- domestic general No pledge or
0.64% 29,999,873
Portfolio 102 legal person shares frozen
VALUE PARTNERS domestic non-state No pledge or
0.62% 28,823,840
HIGH-DIVIDEND STOCKS FUNDS legal person shares frozen
National Social Security Fund- domestic general No pledge or
0.60% 28,099,961
Portfolio 103 legal person shares frozen
Northeast Securities Co. Ltd.- No pledge or
domestic general
customer guarantee of securities credit 0.54% 25,142,323 frozen
legal person shares
transactions security account
Top 10 holders of unconditional shares
Amount of shares Category of shares
Name of the shareholder without sales
restriction Category of shares Amount
China Changan Automobile Co., Ltd. 1,450,236,874 RMB Ordinary share 1,450,236,874
China securities finance Co, Ltd 139,422,848 RMB Ordinary share 139,422,848
Central Huijin Investment Ltd. 55,393,100 RMB Ordinary share 55,393,100
Domestic listed foreign
United Prosperity Investment Co., Limited 45,195,100 45,195,100
shares
Domestic listed foreign
GIC PRIVATE LIMITED 42,473,436 42,473,436
shares
Domestic listed foreign
HTHK-MANULIFE CHINA VALUE FUND 34,519,781 34,519,781
shares
National Social Security Fund- Portfolio 102 29,999,873 RMB Ordinary share 29,999,873
Domestic listed foreign
VALUE PARTNERS HIGH-DIVIDEND STOCKS FUNDS 28,823,840 28,823,840
shares
National Social Security Fund- Portfolio 103 28,099,961 RMB Ordinary share 28,099,961
Northeast Securities Co. Ltd.- customer guarantee of securities
25,142,323 RMB Ordinary share 25,142,323
credit transactions security account
Among the top 10 shareholders, China Changan Automobile
Group Co., Ltd., the controlling shareholder, and its wholly
Explanation on the relationship and the action alike of above owned subsidiary United Prosperity Investment Co., Limited.
shareholders 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
2.2.2 Total number of preferred shareholders at the end of the report period and statement on preferred shares held
by the top ten tradable shareholders
□Applicable √Not Applicable
Chapter 3 Important Matters
3.1 Significant changes&reasons in major accounting data, financial indicators
In RMB Yuan
st st
Balance Sheet Items Mar. 31 ,2016 Jan. 1 , 2016 Changes (%)
1 Accounts receivable 1,269,879,426.54 875,479,556.55 45.05%
2 Interest receivable 34,362,686.12 15,295,866.67 124.65%
3 Construction project 4,081,505,848.79 3,063,874,006.92 33.21%
4 Long-term deferred expenses 13,931,886.95 8,028,811.27 73.52%
5 Short-term loan 165,000,000.00 50,000,000.00 230.00%
6 Taxes payable 563,955,603.14 356,749,196.49 58.08%
7 Interest payable 99,693,000.00 73,458,000.00 35.71%
8 Special reserves 31,531,878.26 22,036,479.54 43.09%
Income Statement Items Jan-Mar 2016 Jan-Mar 2015 Changes (%)
1 Selling expenses 1,245,628,687.54 904,802,167.72 37.67%
2 Financial expenses -43,658,323.21 -9,831,149.81 -344.08%
3 Non-operating expenses 24,603,975.77 2,920,202.20 742.54%
4 Income tax 4,952,715.30 110,290,285.35 -95.51%
5 Profit for distribution 26,572,240,402.83 17,610,092,975.05 50.89%
Cash Flow Statement Items Jan-Mar 2016 Jan-Mar 2015 Changes (%)
Net Cash flow generated by business
1 1,615,418,932.11 2,773,784,253.36 -41.76%
operation
2 Net cash flow generated by investment -1,046,353,980.69 -530,913,758.99 -97.09%
3 Net cash flow generated by financing 123,093,161.14 47,504,723.04 159.12%
4 Net increase of cash and cash equivalents 692,249,507.90 2,295,470,823.30 -69.84%
As at the end of reporting period, the Company’s total asset is 94.8 Billion Yuan, with 6.01% growth compared with the beginning
of the year; the total liability is 58 Billion Yuan, with 4.97% growth compared with the beginning of the year; the debt asset ratio is
61.18%, which is 0.6% lower than that at the beginning of the year. Compared with beginning of the year, the increase of accounts
receivable is mainly due to the growth of car sales; the huge increase of interest receivables is mainly due to the interest on deposits of
the parent company; the increase of construction project is mainly due to new construction projects for passenger cars this year; the
huge increase of long-term deferred expenses is mainly due to the new car extended warranty costs; the huge increase of tax payable is
mainly due to the increase of VAT payable and business income taxes; the increase of interest payable is due to the increase of bond
interest payable; the huge increase of short-term loan is due to the increasingly borrowing of short-term loans from Boding Changan
Bus; the huge increase of special reserve is due to the increase of safety production cost.
During the reporting period, the increase of the selling expenses is due to the increasing of the accrued discount compared with
the same period of last year; the significant decrease of financial expenses is mainly caused by the decrease of loan interests from
financial institutions; the huge increase of non-operating expense was mainly caused by the loss of fixed assets disposal; the income
tax costs substantially reduced mainly due to the increase of deferred income tax assets.
During the reporting period, the cash and cash equivalent reduced by 1.603 billion Yuan, down by 69.84% on a year-on-year
basis, mainly resulting from the material decrease of net cash flow generated from operating activities. The net cash flow generated
from operating activities reduced by 1.158 billion Yuan mainly due to the sales growth rate smaller than that of the purchase of goods,
the tax paid in cash and the cash payments to employees. The cash flows from investing activities reduced by 0.515 billion Yuan,
adown by 97.09% on a year-on-year basis, due to the increase of cash for the purchase of fixed assets, intangible assets and other
long-term assets. The net cash flows from financing activities increased by 0.076 billion yuan, a year-on-year increase of 159.12%,
due to the decrease of cash repayments to the debts, and the increase of other cash related financing activities.
3.2 The progress and influence of significant events and the analysis and explanation on resolving proposal
√Applicable □Not Applicable
On March 7, 2016, the 42nd session of the sixth board of directors approved “On the general election for the seventh board of
directors”, and the company elected Xu Liuping, Zhang Baolin, Zhu Huarong, Zhou Zhiping, Tan Xiaogang, Wang Xiaoxiang, Wang
Kun as the candidate for the seventh session of the board of directors; at the same time, the board of directors nominated Shuai
Tianlong, Liu Jipeng, Li Xiang, Li Qingwen, Tan Xiaosheng, Hu Yu, Pang Yong, and Chen Quanshi as the independent directors
candidate for the seventh session of the board of directors. On March 7, 2016, the 19th session of the sixth board of supervisors
reviewed and appr
