Chongqing Changan Automobile Company Limited 2016 Semi-annual Report
1
Chongqing Changan Automobile Company Limited
2016 Semi-annual Report
August 2016
Chongqing Changan Automobile Company Limited 2016 Semi-annual Report
I.Important directory and interpretation
The Board of Directors, the Board of Supervisors, Directors, Supervisors and Senior Executives of the
Company hereby guarantee that the information contained in the report is free of false records, misguiding
statements or significant omissions, and assume individual and joint liabilities for the truthfulness, accuracy
and integrity of the report.
All the directors attended the board meeting for reviewing the semi-annual report.
For the first half of the year, the Company has no plans of cash dividend, no bonus shares and no share
converted from capital reserve.
Chairman of the Board Mr. Xu Liuping, the Chief of Financial officer Wang Kun, and the Chief of
Accountant department Mr. Hua Zhanbiao hereby declare that the financial statements enclosed in this
semi-annual report are true, accurate and complete.
The report shall be presented in both Chinese and English, and should there be any conflicting understanding of
the text, the Chinese version shall prevail.
Chongqing Changan Automobile Company Limited 2016 Semi-annual Report
Contents
I Important notes, contents and definitions
General introduction to the Company
II
III Accounting data and summary of financial indexes
IV Report by Board of Directors
Important Issues
V
Change in shares and information about
VI shareholders
Information on directors, supervisors, senior
VII executives and staffs
Financial Statements
VIII
IX Document for future reference
Chongqing Changan Automobile Company Limited 2016 Semi-annual Report
Definition
ITEM Definition
Changan Auto., the
Refers to Chongqing Changan Automobile Company Limited
Company
South Industries Refers to China South Industries Group Corp. Company’s actual controller
China Changan Automobile Group Corporation, old name: China South
China Changan Refers to
Industries automobile Co., Ltd., a subsidiary company of South Industries
Chongqing Changan Industry (Group) Co., Ltd., old name: Changan
Automobile Co., Ltd., Changan Automobile (Group) Co., Ltd., a
Changan Industry Refers to
subsidiary company of South Industries, the controlling shareholder of the
Company before December, 2005
Nanjing Changan Automobile Co., Ltd., a subsidiary company of the
Nanjing Changan Refers to
Company
Hebei Changan Automobile Co., Ltd., a subsidiary company of the
Hebei Changan Refers to
Company
Hefei Changan Automobile Co., Ltd., a subsidiary company of the
Hefei Changan Refers to
Company
Changan Bus Refers to Baoding Changan Bus Co., Ltd., a subsidiary company of the Company
International Company Refers to Chongqing Changan Automobile International Sale Service Co., Ltd.
Changan Ford Refers to Changan Ford Automobile Co.,，a JV of the Company
Changan Mazda Refers to Changan Mazda Automobile Co., a JV of the Company
CFME Refers to Changan Ford Mazda Engine Co., a JV of the Company
Changan Suzuki Refers to Chognqing Changan Suzuki Auto. Co.Ltd., a JV of the Company
CAPSA Refers to Changan PSA Automobiles Co., Ltd，a JV of the Company
Jiangling Holding Refers to Jiangling Holding Co., a JV of the Company
Chongqing Auto Finance Refers to Chongqing Auto Finance Co.Ltd , Company's Joint Stock Company
Financial Co. of CSGC Refers to Financial Co. of China South Industries Group Corporation
United Prosperity (Hong Kong)Investment Co., Ltd,a subsidiary company
UPI Refers to
of China Changan
Harbin Hafei Automobile Industry Group Co., Ltd., a subsidiary company
Hafei Group Refers to
of China Changan
Chongqing Changan Minsheng APLL Logistics Co., Ltd, a subsidiary
CMAL Refers to
company of Changan Industry
Chongqing Changan Automobile Company Limited 2016 Semi-annual Report
II. General Introduction to the Company
I. Company information
Share referred to as Changan Auto, Changan B Share code 000625、200625
Listed securities exchange Shenzheng securities exchange
The company’s legal Chinese
重庆长安汽车股份有限公司
Name
Abbreviations of company’s
长安汽车
legal Chinese Name
The company’s legal English
Chongqing Changan Automobile Company Limited
Name
The company’s legal
Xu Liuping
representative
II. Contacts
The secretary of the board of directors Securities affairs representative
Name Wang Kung(On behalf)、Li Jun
No.260 Jianxin East Road, Jiangbei District of
Address
Chongqing
Tel. 023-67594008
Fax 023-67866055
E-mail cazqc@changan.com.cn
III. Others
1. Way of contact
Whether registrations address, offices address and its codes as well as website and email of the Company changed in the
reporting period or not
□ Applicable √ Not applicable
Registrations address, offices address and codes as well as website and email of the Company have no change in the reporting
period. See more details in Annual Report 2015.
2. Information disclosure and preparation place
Whether information disclosure and preparation place changed in reporting period or not
□ Applicable √ Not applicable
The newspaper appointed for information disclosure, website for semi-annual report publish appointed by CSRC and
preparation place for semi-annual report have no change in the reporting period. See more details in Annual Report 2015.
3. Registration changes of the Company
Chongqing Changan Automobile Company Limited 2016 Semi-annual Report
Whether registration has changed in the reporting period or not
□ Applicable √ Not applicable
Date/place for registration of the Company, registration number for enterprise legal license, the number of taxation registration
and organization code have no change in reporting period. See more details in Annual Report 2015.
4. Other relevant information
Whether other relevant information has changed in the reporting period or not
□ Applicable √ Not applicable
Chongqing Changan Automobile Company Limited 2016 Semi-annual Report
III. Accounting data and summary of financial indexes
I、Main accounting data and financial indexes
Whether it has retroactive adjustment or re-statement on previous accounting data for accounting policy changed and accounting
error correction or not
□Yes √No
In RMB yuan
Increase/decrease
Report period Same period of last year
y-o-y (%)
Operating revenue (RMB) 35,801,762,921.25 33,052,955,177.49 8.32%
Net profit attributable to shareholders of
5,490,988,582.32 5,085,266,527.13 7.98%
the listed company (RMB)
Net profit attributable to shareholders of
the listed company after deducting 5,051,311,451.92 4,889,911,259.69 3.30%
non-recurring gains and losses (RMB)
Net cash flow arising from operating 4,620,787,228.07
6,436,148,978.03 -28.21%
activities (RMB)
Basic earnings per share (RMB/Share) 1.18 1.09 8.26%
Diluted earnings per share (RMB/Share) 1.18 1.09 8.26%
Weighted average ROE (%) 15.43% 18.44% Down 3.01%
Increase/decrease
Report period Same period of last year
y-o-y (%)
Total assets (RMB) 95,478,684,158.37 89,413,988,669.66 6.78%
Net assets attributable to shareholder of
36,797,443,602.56 34,385,189,070.36 7.02%
the listed company (RMB)
II、The differences between domestic and international accounting standards
(1).Simultaneously pursuant to both Chinese accounting standards and international accounting standards disclosed in the
financial reports of differences in net income and net assets.
□ Applicable √Not applicable
(2). Differences of net profit and net assets disclosed in financial reports prepared under overseas and Chinese accounting
standards.
□ Applicable √Not applicable
Chongqing Changan Automobile Company Limited 2016 Semi-annual Report
III、non-recurring profit and loss project and cash
In RMB yuan
Project Amount Illustration
Gain/loss of non-current assets -5,941,041.23
The government subsidies included in the current profits and
losses (except government subsidies closely related to 496,486,470.68
corporate business, entitled in fixed quota or quantity)
Current net profit from beginning to combined date of
business combination under common control -
Investment income from disposing available-for-sale equity
securities -
Other non-business income and expenditures other than the
14,125,161.47
above items
Subtract: Influenced amount of income tax 63,165,939.22
Influenced amount of miniority shareholders’ equity (after
1,827,521.30
tax)
Total 439,677,130.40
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.
Chongqing Changan Automobile Company Limited 2016 Semi-annual Report
IV. Report by Board of Director
I、Overview
In the first half of 2016, the Company actively responded to the challenges of increasing market competition, and economic
downward pressure, etc., while the production and operation reached a historical high. During the reporting period, the Company and
its associated enterprises and subordinate joint ventures sold more than1.4833 million vehicles in total, up 1.2% year-on-year. Among
them, 0.62 million Changan brand passenger vehicles (including Sedan, SUV and MPV) have been sold, up 13% year-on-year,
ranking first among Chinese brands. In China’s auto market, the Company achieved a market share of about 11.6%, 0.3 percentage
points higher than the previous year, and the sales volume continues to rank top 4 in Chinese automobile industry. (Data source:
China Association of Automobile Manufacturers.)
II、Analysis of Main Business
During the reporting period, the Company delivered operating revenue of RMB 35.802 billion Yuan (the operating revenue of
125.702 Billion Yuan in terms of full revenue from joint venture) and net profit attributable to shareholders of public Corporation
RMB 5.491 billion Yuan, with year-on-year growth of 8.32% and 7.98% respectively. As of the end of the reporting period, the
Company's total assets reached RMB 95.479 billion Yuan, up 6.78% compared with the beginning of the year, total liabilities RMB
58.907 billion Yuan, up 6.64% compared with the beginning of the year, debt asset ratio 61.70%, down 0.08 percentage points
compared with the beginning of the year.
Y-o-y changes of main financial data
In RMB yuan
Same period of last Y-o-y
Current period Reasons for changes
year（restated） increase/decrease
Operating revenue 35,801,762,921.25 33,052,955,177.49 8.32% Increase in scale of production and sales
Operating cost 29,867,338,185.68 27,249,934,200.22 9.61% Increase in scale of production and sales
Business tax and
1,574,338,990.15 1,545,626,871.52 1.86%
surcharges
Operating expenses 2,120,708,553.33 2,135,150,631.89 -0.68%
General and
Increase in depreciation and technology
administrative 2,212,296,933.23 2,039,913,264.88 8.45%
development expenses
expenses
Financial expenses -107,788,565.12 -75,769,863.16 -42.26%%Increase in interest expenses
Impairment loss on Impairment loss on fixed assets and intangible
142,232,585.34 128,153,351.20 10.99%
assets assets increasing over the previous period.
Large increase in investment income from
Investment income 5,208,991,269.98 4,962,949,794.75 4.96%
associated enterprises and joint ventures
Non-operating income 538,423,261.88 253,309,797.80 112.56% Increase in government grant.
Chongqing Changan Automobile Company Limited 2016 Semi-annual Report
Large increase in investment income from the
Non-operating income 5,706,298,099.54 5,229,201,297.38 9.12%
joint ventures and the Chinese brand profits.
Increase in current income tax expenses and
Income tax expense 229,546,499.16 171,465,058.19 33.87%
decrease in deferred income tax expenses.
Large increase in investment income from the
Net profit attributable
5,490,988,582.32 5,085,266,527.13 7.98% joint ventures and improved profits from Changan
to owners
Automobile itself
Large increase in R&D investment during the
R&D investment 1,584,378,897.88 1,103,565,009.68 43.57%
reporting period
Subtotal of cash inflow Mainly due to the increase of cash paid for goods,
from operating 4,620,787,228.07 6,436,148,978.03 -28.21% payroll and other operational activities is higher
activities than the cash increase in sales
Subtotal of cash inflow
Mainly because of the large increase of cash
from investment 1,681,413,173.43 -1,201,620,752.08 239.93%
dividends from JV
activities
Mainly because of the increase of the cash
Subtotal of cash in-flow
-2,935,209,603.13 -1,256,059,164.34 -133.68% dividend, the n
