2018 Third Quarter Report
Of
Chongqing Changan Automobile Company Limited
October, 2018
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 “theCompany”) hereby guarantee that no false or misleading statement or major omission was made to
the materials in this report and that they will assume all the responsibilities, individually and jointly,for the truthfulness, accuracy and completeness of the contents of this report.
The Chairman of the Board Zhang Baolin, the Chief Financial Officer Zhang Deyong and theresponsible person of the accounting institution (Accountant in charge) Chen Jianfeng herebydeclare that the Financial Statements enclosed in this quarter report are true, accurate and complete.
Except the following directors, all the directors attended the board meeting for reviewing theannual report.
| The name of the directors absent | Positions | Reasons for the absence | Name of the consignee |
| Zhou Zhiping | Directors | Business trip | Zhang Dongjun |
| Tan Xiaosheng | Independent Directors | Business trip | Li Qingwen |
| Wei Xinjiang | Independent Directors | Business trip | Liu Jipeng |
The report shall be presented in both Chinese and English, and should there be any conflictingunderstanding of the text, the Chinese version shall prevail.
Chapter 2 Basic Information
I. Main accounting data and financial indicators
Does the company conduct the retrospective adjustment or restatement of previous years accounting data due to changes inaccounting policies or accounting errors?
□Yes √No
| 2018.9.30 | 2017.12.31 | Increase/decrease (%) | ||
| Total assets (RMB) | 94,645,030,905.55 | 106,125,114,622.69 | -10.82% | |
| Net assets attributable to shareholder of the listed company(RMB) | 46,890,834,517.49 | 47,598,690,942.28 | -1.49% | |
| Jul-Sep.2018 | Changes of Reporting Period in the same Period last year | Jan.-Sep.2018 | Changes of Reporting Period in the same Period last year | |
| Operating revenue (Yuan) | 14,208,826,200.12 | -20.51% | 49,851,658,390.16 | -3.07% |
| Net profit belonging to shareholders of the listed company (Yuan) | -446,525,102.83 | -137.52% | 1,163,081,476.01 | -79.98% |
| Net profit belonging to shareholders of the listed company after deduction of non-recurring profit and loss (Yuan) | -711,470,154.01 | -166.28% | -15,753,465.60 | -100.34% |
| Net cash flow arising from operating activities (Yuan) | ╱ | ╱ | 923,849,319.05 | 23.56% |
| Basic earnings per share (Yuan/Share) | -0.09 | -136.00% | 0.24 | -80.17% |
| Diluted earnings per share (Yuan/Share) | -0.09 | -136.00% | 0.24 | -80.17% |
| Return on equity (ROE) (%) | -0.95% | Down 3.55% | 2.46% | Down 10.47% |
Accidental gain/loss item and amount
√ Applicable □ Not applicable
In RMB Yuan
| Item | Amount of the period from the beginning of year to the end of report term |
| Gain/loss of non-current assets (including the writeoff part of the impairment provision for the provision of assets) | 21,092,069.59 |
| Government subsidies accounted into current gain/loss account, other than those closely related to the Company’s common business, comply with the national policy and continues to enjoy at certain fixed rate or amount | 1,411,214,619.50 |
| Other non-business income and expenditures other than the above | -14,718,582.89 |
| Interest on deferred payment of funds received by non-financial enterprises | 16,489,749.32 |
| Less: Influenced amount of income tax | 219,605,808.12 |
| Influenced amount of minority shareholders’ equity | 35,637,105.79 |
| Total | 1,178,834,941.61 |
According to “Public offering of securities information disclosure of the company's information disclosure announcement No. 1 –non-recurring gains and losses “Public offering of securities information disclosure of the company's information disclosureannouncement No. 1 – non-recurring gains and losses” defined non-recurring items ,and Public offering of securities informationdisclosure of the company's information disclosure announcement No. 1 - non-recurring gains and losses “The items listed in the
non-recurring items defined as recurring items shall be explained .
□ Applicable √Not applicable
The company in the reporting period does not base on the definition and listing of “Public offering of securities informationdisclosure of the company's information disclosure announcement No. 1 – non-recurring gains and losses” about non-recurring gains
and losses to define a case of recurring profit or loss.
II. Total number of shareholders at the end of the reporting period and statement on sharesheld by the top ten shareholders
1. Total number of shareholders at the end of the reporting period and statement on shares held by the topten shareholders
Unit: share
| As of the reporting period, the total number of shareholders | Total number196,006, of which 167,499 were A share shareholders and 28,507 were B share shareholders. | |||||||
| Top 10 Shareholders | ||||||||
| Name of the shareholder | Nature of shareholder | Shareholding (%) | Number of shares | Conditional shares | Pledging or freezing | |||
| Share status | Amount | |||||||
| China South Industries Group Co., Ltd. | State-owned legal person shares | 21.56 | 1,035,312,673 | No pledge or freeze | - | |||
| China Changan Automobile Co., Ltd. | State-owned legal person shares | 19.32 | 928,044,946 | 139,762,403 | No pledge or freeze | - | ||
| China securities finance Co, Ltd | domestic general legal person shares | 4.88 | 234,265,333 | No pledge or freeze | - | |||
| United Prosperity (Hongkong) Investment Co., Limited | foreign legal person shares | 2.88 | 138,502,185 | No pledge or freeze | - | |||
| GIC PRIVATE LIMITED | foreign legal person shares | 1.65 | 79,395,550 | No pledge or freeze | - | |||
| Central Huijin Investment Ltd. | domestic general legal person shares | 1.15 | 55,393,100 | No pledge or freeze | - | |||
| DRAGON BILLION SELECT MASTER FUND | foreign legal person shares | 0.85 | 40,597,114 | No pledge or freeze | - | |||
| Anbang Asset Mgmt-China Merchants Bank- Anbang Asset-China | fund, finance products, etc. | 0.67 | 32,070,942 | No pledge or freeze | - | |||
| Anbang Asset Mgmt－China Minsheng Bank－Anbang Asset-China | fund, finance products, etc. | 0.65 | 31,082,094 | No pledge or freeze | - | |||
| MONETARY AUTHORITY OF SINGAPORE | foreign legal person shares | 0.49 | 23,588,205 | No pledge or freeze | - | |||
| Top 10 holders of unconditional shares | ||||||||
| Name of the shareholder | Amount of shares without sales restriction | Category of shares | ||||||
| Category of shares | Amount | |||||||
| China South Industries Group Co., Ltd. | 1,035,312,673 | RMB ordinary shares | 1,035,312,673 | |||||
| China Changan Automobile Co., Ltd. | 788,282,543 | RMB ordinary shares | 788,282,543 | |||||
| China securities finance Co, Ltd | 234,265,333 | RMB ordinary shares | 234,265,333 | |||||
| United Prosperity (Hongkong) Investment Co., Limited | 138,502,185 | Domestic listed foreign shares | 138,502,185 | |||||
| GIC PRIVATE LIMITED | 79,395,550 | Domestic listed foreign shares | 79,395,550 | |||||
| Central Huijin Investment Ltd. | 55,393,100 | RMB ordinary shares | 55,393,100 | |||||
| DRAGON BILLION SELECT MASTER FUND | 40,597,114 | Domestic listed foreign shares | 40,597,114 | |||||
| Anbang Asset Mgmt-China Merchants Bank- Anbang Asset-China | 32,070,942 | RMB ordinary shares | 32,070,942 | |||||
| Anbang Asset Mgmt－China Minsheng Bank－Anbang | 31,082,094 | RMB ordinary shares | 31,082,094 | |||||
| Asset-China | |||
| MONETARY AUTHORITY OF SINGAPORE | 23,588,205 | Domestic listed foreign shares | 23,588,205 |
| Explanation on the relationship and the action alike of above shareholders | Among the top 10 shareholders, China South Industries Group Co., Ltd., the actual controller; China Changan Automobile Group Co., Ltd., the controlling shareholder, and its wholly owned subsidiary United Prosperity (Hong Kong)Investment Co., Limited 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 repurchasetransactions during the report period
□Applicable √Not Applicable
The top 10 shareholders of ordinary shares, and the top 10 circulated shareholders have not agreed on the repurchase transactionsduring the report period.
2. Total number of preferred shareholders at the end of the reporting period and statement on preferredshares held by the top ten preferred shareholders
□Applicable √Not Applicable
Chapter 3 Important Matters
I. Significant changes & reasons in major accounting data, financial indicators
√Applicable □Not Applicable
| As at the end of reporting period, the company’s total asset was 94.645 billion Yuan, with 10.82% decrease compared with the beginning of the year. The total liability was 47.882 billion Yuan, with 18.38% decrease compared with the beginning of the year. The debt asset ratio was 50.59%, which was 4.69 percentage points lower than the beginning of the year. Compared with beginning of the year, the decrease of cash was mainly due to the decrease of net cash flows from investing activities. The decrease of notes receivable and accounts receivable was mainly due to the decrease of sales and credit sales. The increase of other receivables was mainly due to the increase of new energy subsidies receivable. The increase of inventories compared with the beginning of the year was mainly due to the increase of goods and raw materials. The increase of construction in process was mainly due to the increase in constructions of factories and buildings. The decrease of advances from customers was mainly due to the decrease of advance payment from car dealers. The balance of the payroll payable was lower than that at the beginning of the year, which was mainly due to the reduction of accrued payroll payable by the company. During the reporting period, operating expenses substantially increased mainly due to the increase of promotional activities. The significant decrease of investment income was mainly due to the decrease of investment income from associates and joint venture. During the reporting period, the cash and cash equivalents decreased by 2338.69% on a year-on-year basis, mainly due to the significant decrease in net cash flows from investing activities. The net cash flows from investing activities decreased mainly due to the | ||||||
II. The progress and influence of significant events and the analysis and explanation onresolving proposal
□Applicable √Not Applicable
III. Commitments made within the reporting period by the controlling shareholders,shareholders, related party, acquirer and the company overdue and not fulfilled
□Applicable √Not Applicable
IV. Forecast of operation performance of 2018
The warning or a reason for a loss or a significant change of cumulative net profit from the beginning of the year to the end of thenext reporting period compared with the same period of last year
□Applicable √Not Applicable
V. Securities Investment
√Applicable □Non-applicable
decrease in cash dividends received from joint ventures. The net cash flows from financing activities increased significantly on ayear-on-year basis mainly due to the decrease of debt repayment and distribution of cash dividends compared to the same period lastyear.
Securityvariety
| Security variety | code | Stock name | Initial investment cost (RMB Yuan) | Holdings (share) | holding ratio (%) | holdings (share) | Holdings （%） | Closing book value (RMB Yuan) | Gain/loss in the reporting period (RMB Yuan) | Accounting title | Equity source |
| Stock | 600369 | Southwest Securities | 50,000,000 | 35,500,000 | 0.63% | 35,500,000 | 0.63% | 126,735,000 | 1,775,001.20 | Tradable financial assets | Initial investment |
| Total | 50,000,000 | 35,500,000 | -- | 35,500,000 | -- | 126,735,000 | 1,775,001.20 | -- | -- | ||
VI. Entrusted financial management
□Applicable √Not Applicable
During the reporting period, the company did not have any entrusted financial management.
VII. Derivative Investment
□Applicable √Not Applicable
During the reporting period, the company did not have any derivative investment.
VIII. Interviews and visits in the reporting period
√Applicable □Not Applicable
| Date | Manner | Object | Content discussed and material offered |
| 2018.1.4 | On-Site Survey | Institution | For details, see the January 5, 2018 Shenzhen stock exchange interactive |
| (http://irm.cninfo.com.cn) on the Changan Automobile: January 4, 2018 investor relations activities record sheet | |||
| 2018.1.11 | On-Site Survey | Institution | For details, see the January 15, 2018 Shenzhen stock exchange interactive (http://irm.cninfo.com.cn) on the Changan Automobile: January 11, 2018 investor relations activities record sheet |
| 2018.1.17 | On-Site Survey | Institution | For details, see the January 19, 2018 Shenzhen stock exchange interactive (http://irm.cninfo.com.cn) on the Changan Automobile: January 17, 2018 investor relations activities record sheet |
| 2018.1.18 | On-Site Survey | Institution | For details, see the January 19, 2018 Shenzhen stock exchange interactive (http://irm.cninfo.com.cn) on the Changan automobile: January 18, 2018 investor relations activities record sheet |
| 2018.1.24 | On-Site Survey | Institution | For details, see the January 25, 2018 Shenzhen stock exchange interactive (http://irm.cninfo.com.cn) on the Changan Automobile: January 24, 2018 investor relations activities record sheet |
| 2018.1.26 | On-Site Survey | Institution | For details, see the January 30, 2018 Shenzhen stock exchange interactive (http://irm.cninfo.com.cn) on the Changan Automobile: January 26, 2018 investor relations activities record sheet |
| 2018.2.12 | On-Site Survey | Institution | For details, see the February 13, 2018 Shenzhen stock exchange interactive (http://irm.cninfo.com.cn) on the Changan Automobile: February 12, 2018 investor relations activities record sheet |
| 2018.3.6 | On-Site Survey | Institution | For details, see the March 8, 2018 Shenzhen stock exchange interactive (http://irm.cninfo.com.cn) on the Changan Automobile: March 6, 2018 investor relations activities record sheet |
| 2018.3.8 | On-Site Survey | Institution | For details, see the March 12, 2018 Shenzhen stock exchange interactive (http://irm.cninfo.com.cn) on the Changan Automobile: March 8, 2018 investor relations activities record sheet |
| 2018.3.13 | On-Site Survey | Institution | For details, see the March 16, 2018 Shenzhen stock exchange interactive (http://irm.cninfo.com.cn) on the Changan Automobile: March 13, 2018 investor relations activities record sheet |
| 2018.3.15 | On-Site Survey | Institution | For details, see the March 19, 2018 Shenzhen stock exchange interactive (http://irm.cninfo.com.cn) on the Changan Automobile: March 15, 2018 investor relations activities record sheet |
| 2018.7.19 | On-Site Survey | Institution | For details, see the July 23, 2018 Shenzhen stock exchange interactive (http://irm.cninfo.com.cn) on the Changan Automobile: July 19, 2018 investor relations activities record sheet |
| 2018.7.24 | On-Site Survey | Institution | For details, see the July 26, 2018 Shenzhen stock exchange interactive (http://irm.cninfo.com.cn) on the Changan Automobile: July 24, 2018 investor relations activities record sheet |
| 2018.8.31 | On-Site Survey | Institution | For details, see the September 3, 2018 Shenzhen stock exchange interactive (http://irm.cninfo.com.cn) on the Changan Automobile: August 31, 2018 investor relations activities record sheet |
| 2018.9.5 | On-Site Survey | Institution | For details, see the September 6, 2018 Shenzhen stock exchange interactive (http://irm.cninfo.com.cn) on the Changan Automobile: September 5, 2018 investor relations activities record sheet |
| 2018.9.10 | On-Site Survey | Institution | For details, see the September 11, 2018 Shenzhen stock exchange interactive (http://irm.cninfo.com.cn) on the Changan Automobile: September 10, 2018 investor relations activities record sheet |
| 2018.9.13 | On-Site Survey | Institution | For details, see the September 14, 2018 Shenzhen stock exchange interactive (http://irm.cninfo.com.cn) on the Changan Automobile: September 13, 2018 investor relations activities record sheet |
| 2018.9.14 | On-Site Survey | Institution | For details, see the September 17, 2018 Shenzhen stock exchange interactive (http://irm.cninfo.com.cn) on the Changan Automobile: September 14, 2018 investor relations activities record sheet |
| 2018.9.18 | On-Site Survey | Institution | For details, see the September 19, 2018 Shenzhen stock exchange interactive (http://irm.cninfo.com.cn) on the Changan Automobile: September 18, 2018 investor relations activities record sheet |
| 2018.9.19 | On-Site Survey | Institution | For details, see the September 21, 2018 Shenzhen stock exchange interactive (http://irm.cninfo.com.cn) on the Changan Automobile: September 19, 2018 |
| investor relations activities record sheet | |||
| 2018.9.25 | On-Site Survey | Institution | For details, see the September 27, 2018 Shenzhen stock exchange interactive (http://irm.cninfo.com.cn) on the Changan Automobile: September 25, 2018 investor relations activities record sheet(1) |
| 2018.9.25 | On-Site Survey | Institution | For details, see the September 27, 2018 Shenzhen stock exchange interactive (http://irm.cninfo.com.cn) on the Changan Automobile: September 25, 2018 investor relations activities record sheet(2) |
| 2018.9.26 | On-Site Survey | Institution | For details, see the September 28, 2018 Shenzhen stock exchange interactive (http://irm.cninfo.com.cn) on the Changan Automobile: September 26, 2018 investor relations activities record sheet(1) |
| 2018.9.26 | On-Site Survey | Institution | For details, see the September 28, 2018 Shenzhen stock exchange interactive (http://irm.cninfo.com.cn) on the Changan Automobile: September 26, 2018 investor relations activities record sheet(2) |
| 2018.9.27 | On-Site Survey | Institution | For details, see the September 28, 2018 Shenzhen stock exchange interactive (http://irm.cninfo.com.cn) on the Changan Automobile: September 27, 2018 investor relations activities record sheet |
IX. Illegal external guarantee
□Applicable √Not Applicable
During the reporting period, the company did not have any illegal external guarantee.
X. Controlling shareholder and its related parties to the listing Corporation's non-operatingfunds
□Applicable √Not Applicable
During the reporting period, no controlling shareholder and its related parties occupied the non-operating capital of the listedcompany.
Chapter 4 Financial Statements
I. Financial Statements
1. Consolidated Balance Sheet
Prepared by: CHONGQING CHANGAN AUTOMOBILE CO., LTD.
In RMB Yuan
| Account | Ending Balance | Opening Balance |
| Current assets: | ||
| Cash | 15,640,593,034.03 | 22,631,536,496.53 |
| Notes receivable and accounts receivable | 18,843,567,203.82 | 30,963,288,278.24 |
| Notes receivable | 16,479,324,159.57 | 29,156,481,085.20 |
| Accounts receivable | 2,364,243,044.25 | 1,806,807,193.04 |
| Prepayments | 1,077,714,553.31 | 1,102,239,931.33 |
| Other receivables | 2,220,947,639.56 | 1,687,460,718.92 |
| Inventories | 6,445,272,482.65 | 4,666,183,421.80 |
| Holding assets for sale | ||
| Non-current assets due within one year | ||
| Other current assets | 1,755,288,990.33 | 1,705,910,530.43 |
| Total current assets | 45,983,383,903.70 | 62,756,619,377.25 |
| Non-current assets: | ||
| Available-for-sale financial assets | 554,287,000.00 | 541,917,000.00 |
| Long-term receivables | ||
| Long-term equity investments | 16,221,883,561.62 | 14,098,523,896.97 |
| Investment properties | 7,386,239.17 | 7,556,272.84 |
| Fixed assets | 18,584,109,386.60 | 19,044,533,667.68 |
| Construction in progress | 6,018,738,388.23 | 3,234,173,155.52 |
| Intangible assets | 4,211,101,410.01 | 4,047,945,129.67 |
| Development expenditure | 929,897,320.81 | 836,638,328.10 |
| Goodwill | 9,804,394.00 | 9,804,394.00 |
| Long-term deferred expenses | 15,436,998.30 | 13,545,589.39 |
| Deferred tax assets | 1,574,814,926.23 | 1,533,857,811.27 |
| Other non-current assets | 534,187,376.88 | - |
| Total non-current assets | 48,661,647,001.85 | 43,368,495,245.44 |
| TOTAL ASSETS | 94,645,030,905.55 | 106,125,114,622.69 |
| Current liabilities: | ||
| Short-term loans | 186,000,000.00 | 185,000,000.00 |
| Notes payable and accounts payable | 31,592,884,154.18 | 39,905,752,773.96 |
| Advances from customers | 2,484,704,374.79 | 3,878,382,556.43 |
| Payroll payable | 839,970,382.96 | 1,640,885,322.33 |
| Taxes payable | 300,975,711.99 | 394,321,397.14 |
| Other payables | 1,831,131,279.91 | 2,599,093,153.78 |
| Non-current liabilities within one year | 6,594,120.00 | 13,151,946.67 |
| Other current liabilities | 4,085,757,742.31 | 3,562,154,645.82 |
| Total current liabilities | 41,328,017,766.14 | 52,178,741,796.13 |
| Non-current liabilities: | ||
| Long-term loans | - | 6,575,973.33 |
| Long-term payables | 309,794,170.98 | 290,607,151.02 |
| Long-term payroll payable | 103,111,980.93 | 113,012,000.00 |
| Estimated liabilities | 2,548,010,533.00 | 2,423,958,274.70 |
| Deferred Revenue | 3,577,208,896.71 | 3,627,817,419.05 |
| Deferred tax liabilities | 15,578,250.00 | 21,222,750.00 |
| Other non-current liabilities | ||
| Total non-current liabilities | 6,553,703,831.62 | 6,483,193,568.10 |
| Total liabilities | 47,881,721,597.76 | 58,661,935,364.23 |
| Owners’ equity (or Shareholders’ equity): | ||
| Share capital | 4,802,648,511.00 | 4,802,648,511.00 |
| Capital reserves | 5,099,405,956.94 | 5,099,405,956.94 |
| Other comprehensive income | 347,428,824.82 | 82,959,423.84 |
| Special reserves | 50,662,714.94 | 28,279,733.06 |
| Surplus reserves | 2,401,324,255.50 | 2,401,324,255.50 |
| Retained earnings | 34,189,364,254.29 | 35,184,073,061.94 |
| Equity attributable to owners | 46,890,834,517.49 | 47,598,690,942.28 |
| Minority interests | -127,525,209.70 | -135,511,683.82 |
| Total Owners’ equity (or Shareholders’ equity) | 46,763,309,307.79 | 47,463,179,258.46 |
| Liabilities and owners' equity (or shareholders' equity) in total | 94,645,030,905.55 | 106,125,114,622.69 |
Legal person: Zhang Baolin Chief financial officer: Zhang Deyong The head of accounting department: Chen Jianfeng
2. Balance Sheet
In RMB Yuan
| Account | Ending Balance | Opening Balance |
| Current assets: | ||
| Cash | 14,113,130,078.13 | 20,634,514,487.95 |
| Notes receivable and accounts receivable | 22,164,640,182.48 | 34,002,845,071.70 |
| Notes receivable | 15,921,947,401.00 | 29,010,848,480.70 |
| Accounts receivable | 6,242,692,781.48 | 4,991,996,591.00 |
| Prepayments | 971,858,753.10 | 960,555,695.17 |
| Other receivables | 2,347,393,399.75 | 1,765,907,866.77 |
| Inventories | 5,588,477,853.48 | 4,005,921,440.85 |
| Holding assets for sale | ||
| Non-current assets due within one year | ||
| Other current assets | 1,115,149,207.47 | 1,178,094,749.84 |
| Total current assets | 46,300,649,474.41 | 62,547,839,312.28 |
| Non-current assets: | ||
| Available-for-sale financial assets | 544,377,000.00 | 532,007,000.00 |
| Long-term receivables | ||
| Long-term equity investments | 18,064,882,120.32 | 15,786,743,636.55 |
| Investment properties | ||
| Fixed assets | 15,151,138,722.09 | 15,582,899,632.64 |
| Construction in progress | 4,786,688,452.95 | 2,763,521,275.98 |
| Intangible assets | 3,544,130,583.82 | 3,341,218,169.73 |
| Development expenditure | 748,691,134.07 | 733,947,670.46 |
| Goodwill | ||
| Long-term deferred expenses | 12,851,515.57 | 12,821,802.39 |
| Deferred tax assets | 1,465,518,480.06 | 1,421,165,907.17 |
| Other non-current assets | 534,187,376.88 | - |
| Total non-current assets | 44,852,465,385.76 | 40,174,325,094.92 |
| TOTAL ASSETS | 91,153,114,860.17 | 102,722,164,407.20 |
| Current liabilities: | ||
| Short-term loans | ||
| Notes payable and accounts payable | 28,226,623,499.46 | 36,351,223,966.94 |
| Advances from customers | 2,273,786,086.04 | 3,724,183,178.58 |
| Payroll payable | 634,368,563.14 | 1,377,250,229.66 |
| Taxes payable | 265,239,809.48 | 320,050,382.91 |
| Other payables | 1,782,700,819.70 | 3,181,207,281.30 |
| Holding liabilities for sale | ||
| Non-current liabilities within one year | ||
| Other current liabilities | 3,913,210,538.52 | 3,453,269,881.59 |
| Total current liabilities | 37,095,929,316.34 | 48,407,184,920.98 |
| Non-current liabilities: | ||
| Long-term loans | ||
| Long-term payables | 254,443,461.58 | 235,256,441.62 |
| Long-term payroll payable | 81,875,678.66 | 91,263,000.00 |
| Estimated liabilities | 2,495,263,231.49 | 2,380,971,255.26 |
| Deferred Revenue | 2,828,703,278.18 | 2,879,604,719.46 |
| Deferred tax liabilities | 15,578,250.00 | 21,222,750.00 |
| Other non-current liabilities | ||
| Total non-current liabilities | 5,675,863,899.91 | 5,608,318,166.34 |
| Total liabilities | 42,771,793,216.25 | 54,015,503,087.32 |
| Owners’ equity (or Shareholders’ equity): | ||
| Share capital | 4,802,648,511.00 | 4,802,648,511.00 |
| Capital reserves | 4,717,192,101.72 | 4,717,192,101.72 |
| Other comprehensive income | 380,599,378.87 | 132,520,410.88 |
| Special reserves | 24,901,617.08 | 12,013,706.73 |
| Surplus reserves | 2,401,324,255.50 | 2,401,324,255.50 |
| Retained earnings | 36,054,655,779.75 | 36,640,962,334.05 |
| Total Owners’ equity (or Shareholders’ equity) | 48,381,321,643.92 | 48,706,661,319.88 |
| Liabilities and owners' equity (or shareholders' equity) in total | 91,153,114,860.17 | 102,722,164,407.20 |
3. Consolidated Income Statement of the report term (July-September)
In RMB Yuan
| Account | Current Period | Prior Period |
| I. Total operating income | 14,208,826,200.12 | 17,875,967,836.92 |
| Operating income | 14,208,826,200.12 | 17,875,967,836.92 |
| Interest income | ||
| Earned premium | ||
| Fee and commission income | ||
| II. Total operating cost | 14,851,539,785.92 | 18,622,936,928.98 |
| Including: Operating cost | 11,649,373,012.29 | 16,577,859,499.30 |
| Tax and surcharges | 485,653,007.58 | 606,943,117.87 |
| Operating expenses | 1,369,530,915.47 | 346,730,591.63 |
| General and administrative expenses | 1,206,719,665.90 | 911,791,621.70 |
| R&D expenses | 256,006,612.90 | 325,662,119.26 |
| Financial expenses | -117,539,605.16 | -145,299,064.53 |
| Interest expense | 162,925.67 | 4,294,510.99 |
| Interest income | 121,932,149.93 | 158,353,225.22 |
| Impairment loss on assets | 1,796,176.94 | -750,956.25 |
| Add: Other income | 294,983,400.18 | 91,028,832.62 |
| Investment income (‘-‘ represent loss) | -129,235,929.05 | 1,719,330,298.97 |
| Investment income from associates and from joint venture | -130,437,799.33 | 1,715,780,298.97 |
| Asset disposal income | 2,320,259.90 | 515,748.18 |
| III. Operating profit (‘-’ represent loss) | -474,645,854.77 | 1,063,905,787.71 |
| Add: Non-operating income | 21,403,080.23 | 68,294,811.18 |
| Less: Non-operating expenses | 13,091,796.95 | 2,814,306.19 |
| IV. Total profit(‘-’ represent loss) | -466,334,571.49 | 1,129,386,292.70 |
| Less: Income tax expense | -19,920,848.15 | -52,230,483.62 |
| V. Net profit (‘-’ represent net loss) | -446,413,723.34 | 1,181,616,776.32 |
| I) Net profit from continuing operations | -446,413,723.34 | 1,181,616,776.32 |
| II) Net profit from discontinued operations | ||
| Net profit attributable to owners | -446,525,102.83 | 1,190,050,794.41 |
| Minority interests | 111,379.49 | -8,434,018.09 |
| VI. Other comprehensive income, net of tax | 17,439,867.39 | 44,639,315.30 |
| Total comprehensive income attributable to owners, net of tax | 17,439,867.39 | 44,639,315.30 |
| I) Other comprehensive income not to be reclassified to profit or loss in subsequent periods | - | 248,641.80 |
| Change from defined benefit plan | ||
| Other comprehensive income not to be reclassified to profit or loss under equity method | - | 248,641.80 |
| II) Other comprehensive income to be reclassified to profit or loss in subsequent periods | 17,439,867.39 | 44,390,673.50 |
| Other comprehensive income transferable to profit or loss under the equity method | -9,692,020.90 | - |
| Changes in fair value from available-for-sale financial assets | -8,449,000.00 | 6,336,750.00 |
| Foreign currency reserve | 35,580,888.29 | 38,053,923.50 |
| VII. Total comprehensive income | -428,973,855.95 | 1,226,256,091.62 |
| Total comprehensive income attributable to owners | -429,085,235.44 | 1,234,690,109.71 |
| Total comprehensive income attributable to minority interest | 111,379.49 | -8,434,018.09 |
| VIII. Earnings per share: |
| I) Basic earnings per share | -0.09 | 0.25 |
| II) Diluted earnings per share | -0.09 | 0.25 |
Legal person: Zhang Baolin Chief financial officer: Zhang Deyong The head of accounting department: Chen Jianfeng
4. Income Statement of the report term (July-September)
In RMB Yuan
| Account | Current Period | Prior Period |
| I. Operating income | 13,093,065,037.67 | 17,106,576,370.78 |
| Less: Operating cost | 10,883,881,181.83 | 16,033,795,445.11 |
| Tax and surcharges | 378,993,565.82 | 533,601,011.82 |
| Operating expenses | 1,266,350,051.18 | 278,413,026.49 |
| General and administrative expenses | 978,001,082.16 | 733,168,077.10 |
| R&D expenses | 281,359,134.12 | 328,797,058.12 |
| Financial expenses | -115,817,102.01 | -151,813,407.79 |
| Interest expense | - | - |
| Interest income | 119,319,924.74 | 155,521,460.00 |
| Impairment loss on assets | 747,130.34 | 858,777.01 |
| Add: Other income | 46,580,913.63 | 70,318,609.40 |
| Investment income (‘-‘ represent loss) | -126,115,875.65 | 1,719,929,041.12 |
| Investment income from associates and from joint venture | -130,437,799.33 | 1,715,780,299.00 |
| Asset disposal income | 3,485,853.61 | 356,095.81 |
| II. Operating profit (‘-’ represent loss) | -656,499,114.18 | 1,140,360,129.25 |
| Add: Non-operating income | 15,865,485.40 | 10,728,235.98 |
| Less: Non-operating expenses | 12,646,697.02 | 9,656,993.06 |
| III. Total profit(‘-’ represent loss) | -653,280,325.80 | 1,141,431,372.17 |
| Less: Income tax expense | -12,512,741.46 | -72,079,441.96 |
| IV. Net profit (‘-’ represent net loss) | -640,767,584.34 | 1,213,510,814.13 |
| I) Net profit from continuing operations | -640,767,584.34 | 1,213,510,814.13 |
| II) Net profit from discontinued operations | ||
| V. Other comprehensive income, net of tax | -18,141,020.90 | 6,336,750.00 |
| I) Other comprehensive income not to be reclassified to profit or loss in subsequent periods | ||
| Change from defined benefit plan | ||
| Other comprehensive income not to be reclassified to profit or loss under equity method | ||
| II) Other comprehensive income to be reclassified to profit or loss in subsequent periods | -18,141,020.90 | 6,336,750.00 |
| Other comprehensive income transferable to profit or loss under the equity method | -9,692,020.90 | - |
| Changes in fair value from available-for-sale financial assets | -8,449,000.00 | 6,336,750.00 |
| Foreign currency reserve | ||
| VI. Total comprehensive income | -658,908,605.24 | 1,219,847,564.13 |
| VII. Earnings per share: | ||
| I) Basic earnings per share | -0.13 | 0.25 |
| II) Diluted earnings per share | -0.13 | 0.25 |
5. Consolidated Income Statement of the report term (January-September)
In RMB Yuan
| Account | Current Period | Prior Period |
| I. Total operating income | 49,851,658,390.16 | 51,431,180,946.38 |
| Operating income | 49,851,658,390.16 | 51,431,180,946.38 |
| Interest income | ||
| Earned premium | ||
| Fee and commission income | ||
| II. Total operating cost | 51,335,586,962.61 | 52,494,690,330.87 |
| Including: Operating cost | 42,264,218,716.74 | 45,370,615,189.62 |
| Tax and surcharges | 1,772,568,209.15 | 2,050,729,598.01 |
| Operating expenses | 3,912,993,343.98 | 2,350,906,633.64 |
| General and administrative expenses | 2,912,226,138.75 | 2,251,689,667.31 |
| R&D expenses | 705,901,402.10 | 771,498,144.76 |
| Financial expenses | -343,058,447.47 | -392,120,666.68 |
| Interest expense | 14,159,292.98 | 44,997,797.59 |
| Interest income | 385,655,025.71 | 461,863,500.63 |
| Impairment loss on assets | 110,737,599.36 | 91,371,764.21 |
| Add: Other income | 1,411,214,619.50 | 1,244,863,738.48 |
| Investment income (‘-‘ represent loss) | 1,232,775,886.06 | 5,550,949,277.61 |
| Investment income from associates and from joint venture | 1,231,574,015.78 | 5,547,399,277.64 |
| Asset disposal income | 21,092,069.59 | 9,430,234.25 |
| III. Operating profit (‘-’ represent loss) | 1,181,154,002.70 | 5,741,733,865.85 |
| Add: Non-operating income | 50,721,976.99 | 111,790,585.27 |
| Less: Non-operating expenses | 65,440,559.88 | 15,679,452.21 |
| IV. Total profit(‘-’ represent loss) | 1,166,435,419.81 | 5,837,844,998.91 |
| Less: Income tax expense | -4,632,530.32 | -11,234,378.96 |
| V. Net profit (‘-’ represent net loss) | 1,171,067,950.13 | 5,849,079,377.87 |
| I) Net profit from continuing operations | 1,171,067,950.13 | 5,849,079,377.87 |
| II) Net profit from discontinued operations | ||
| Net profit attributable to owners | 1,163,081,476.01 | 5,810,596,533.93 |
| Minority interests | 7,986,474.12 | 38,482,843.94 |
| VI. Other comprehensive income, net of tax | 264,469,400.98 | -4,880,856.36 |
| Total comprehensive income attributable to owners, net of tax | 264,469,400.98 | -4,880,856.36 |
| I) Other comprehensive income not to be reclassified to profit or loss in subsequent periods | ||
| Change from defined benefit plan | ||
| Other comprehensive income not to be reclassified to profit or loss under equity method | ||
| II) Other comprehensive income to be reclassified to profit or loss in subsequent periods | 264,469,400.98 | -4,880,856.36 |
| Other comprehensive income transferable to profit or loss under the equity method | 280,064,467.99 | - |
| Changes in fair value from available-for-sale financial assets | -31,985,500.00 | -39,529,250.00 |
| Foreign currency reserve | 16,390,432.99 | 34,648,393.64 |
| VII. Total comprehensive income | 1,435,537,351.11 | 5,844,198,521.51 |
| Total comprehensive income attributable to owners | 1,427,550,876.99 | 5,805,715,677.57 |
| Total comprehensive income attributable to minority interest | 7,986,474.12 | 38,482,843.94 |
| VIII. Earnings per share: | ||
| I) Basic earnings per share | 0.24 | 1.21 |
| II) Diluted earnings per share | 0.24 | 1.21 |
6. Income Statement of the report term (January-September)
In RMB Yuan
| Account | Current Period | Prior Period |
| I. Operating income | 47,302,130,753.69 | 49,946,098,600.48 |
| Less: Operating cost | 40,610,368,755.55 | 44,937,876,569.48 |
| Tax and surcharges | 1,471,431,305.62 | 1,668,642,765.04 |
| Operating expenses | 3,564,786,417.55 | 2,081,892,197.94 |
| General and administrative expenses | 2,321,401,008.09 | 1,719,267,751.58 |
| R&D expenses | 742,492,781.56 | 778,768,122.17 |
| Financial expenses | -364,251,836.70 | -408,701,921.11 |
| Interest expense | - | 31,482,000.00 |
| Interest income | 375,529,402.19 | 455,031,575.49 |
| Impairment loss on assets | 114,762,129.78 | 134,498,613.87 |
| Add: Other income | 808,401,420.89 | 359,531,064.66 |
| Investment income (‘-‘ represent loss) | 1,869,023,010.80 | 5,550,576,927.03 |
| Investment income from associates and from joint venture | 1,231,574,015.78 | 5,547,399,277.64 |
| Asset disposal income | 27,458,836.63 | -380,460.22 |
| II. Operating profit (‘-’ represent loss) | 1,546,023,460.56 | 4,943,582,032.98 |
| Add: Non-operating income | 38,466,685.40 | 43,971,192.31 |
| Less: Non-operating expenses | 57,358,989.48 | 22,682,793.41 |
| III. Total profit(‘-’ represent loss) | 1,527,131,156.48 | 4,964,870,431.88 |
| Less: Income tax expense | -44,352,572.88 | -80,112,303.68 |
| IV. Net profit (‘-’ represent net loss) | 1,571,483,729.36 | 5,044,982,735.56 |
| I) Net profit from continuing operations | 1,571,483,729.36 | 5,044,982,735.56 |
| II) Net profit from discontinued operations | ||
| V. Other comprehensive income, net of tax | 248,078,967.99 | -39,529,250.00 |
| I) Other comprehensive income not to be reclassified to profit or loss in subsequent periods | ||
| Change from defined benefit plan | ||
| Other comprehensive income not to be reclassified to profit or loss under equity method | ||
| II) Other comprehensive income to be reclassified to profit or loss in subsequent periods | 248,078,967.99 | -39,529,250.00 |
| Other comprehensive income transferable to profit or loss under the equity method | 280,064,467.99 | - |
| Changes in fair value from available-for-sale financial assets | -31,985,500.00 | -39,529,250.00 |
| Foreign currency reserve | ||
| VI. Total comprehensive income | 1,819,562,697.35 | 5,005,453,485.56 |
| VII. Earnings per share: | ||
| I) Basic earnings per share | 0.33 | 1.05 |
| II) Diluted earnings per share | 0.33 | 1.05 |
7. Consolidated Cash Flow Statement from the beginning of year to the end of report term
In RMB Yuan
| Account | Current Period | Prior Period |
| I. CASH FLOWS FROM OPERATING ACTIVITIES: | ||
| Cash received from sale of goods or rendering of services | 64,290,961,489.90 | 64,567,191,647.13 |
| Refunds of taxes | 728,229,441.60 | 179,456,792.87 |
| Cash received relating to other operating activities | 2,686,402,763.17 | 3,118,917,830.77 |
| Sub-total of cash inflows | 67,705,593,694.67 | 67,865,566,270.77 |
| Cash paid for goods and services | 54,305,861,406.86 | 54,247,422,400.97 |
| Cash paid to and on behalf of employees | 4,782,070,413.71 | 4,309,662,082.80 |
| Cash paid for all types of taxes | 2,212,209,891.97 | 3,980,862,710.78 |
| Cash paid relating to other operating activities | 5,481,602,663.08 | 4,579,919,189.20 |
| Sub-total of cash outflows | 66,781,744,375.62 | 67,117,866,383.75 |
| Net cash flows from operating activities | 923,849,319.05 | 747,699,887.02 |
| II. CASH FLOWS FROM INVESTING ACTIVITIES: | ||
| Cash received from return on investments | ||
| Cash received from investment income | 1,346,724,439.40 | 5,560,550,000.00 |
| Net cash received from disposal of fixed assets, intangible assets and other long-term assets | 23,899,810.00 | 12,338,015.93 |
| Net cash received from disposal of subsidiaries and other business units | ||
| Cash received relating to other investing activities | 26,358,750.00 | 629,600,000.00 |
| Sub-total of cash inflows | 1,396,982,999.40 | 6,202,488,015.93 |
| Cash paid for acquisition of fixed assets, intangible assets and other long-term assets | 4,609,034,832.18 | 2,457,337,467.68 |
| Cash paid for acquisition of investments | 2,541,431,126.88 | 100,840,001.00 |
| Net cash paid for subsidiaries and other business units | ||
| Cash paid relating to other investing activities | ||
| Sub-total of cash outflows | 7,150,465,959.06 | 2,558,177,468.68 |
| Net cash flows from investing activities | -5,753,482,959.66 | 3,644,310,547.25 |
| III. CASH FLOWS FROM FINANCING ACTIVITIES: | ||
| Cash received from borrowings | 176,000,000.00 | 195,545,335.27 |
| Cash received from the issuance of bonds |
| Cash received relating to other financing activities | 782,530,058.59 | 664,542,033.46 |
| Sub-total of cash inflows | 958,530,058.59 | 860,087,368.73 |
| Cash repayments of borrowings | 188,130,000.00 | 2,176,754,914.36 |
| Cash paid for distribution of dividends or profits and interest expenses | 2,171,816,595.62 | 3,195,206,702.60 |
| Cash paid relating to other financing activities | - | 128,671,945.51 |
| Sub-total of cash outflows | 2,359,946,595.62 | 5,500,633,562.47 |
| Net cash flows from financing activities | -1,401,416,537.03 | -4,640,546,193.74 |
| IV. EFFECT OF CHANGES IN EXCHANGE RATE ON CASH | 22,636,773.73 | -6,043,797.49 |
| V. NET INCREASE IN CASH AND CASH EQUIVALENTS | -6,208,413,403.91 | -254,579,556.96 |
| Add: Opening balance of cash and cash equivalents | 21,451,305,090.53 | 22,993,432,067.05 |
| VI. CLOSING BALANCE OF CASH AND CASH EQUIVLANT | 15,242,891,686.62 | 22,738,852,510.09 |
8. Cash Flow Statement from the beginning of year to the end of report term.
In RMB Yuan
| Account | Current Period | Prior Period |
| I. CASH FLOWS FROM OPERATING ACTIVITIES: | ||
| Cash received from sale of goods or rendering of services | 61,513,377,295.68 | 61,184,129,674.42 |
| Refunds of taxes | 383,815,314.26 | - |
| Cash received relating to other operating activities | 2,087,450,058.48 | 1,792,621,109.19 |
| Sub-total of cash inflows | 63,984,642,668.42 | 62,976,750,783.61 |
| Cash paid for goods and services | 51,657,866,443.31 | 52,167,086,686.92 |
| Cash paid to and on behalf of employees | 3,816,901,040.92 | 3,326,481,274.28 |
| Cash paid for all types of taxes | 1,612,304,463.01 | 3,201,708,303.04 |
| Cash paid relating to other operating activities | 5,541,806,425.37 | 4,413,700,158.73 |
| Sub-total of cash outflows | 62,628,878,372.61 | 63,108,976,422.97 |
| Net cash flows from operating activities | 1,355,764,295.81 | -132,225,639.36 |
| II. CASH FLOWS FROM INVESTING ACTIVITIES: | ||
| Cash received from return on investments | 839,201.56 | - |
| Cash received from investment income | 1,353,648,189.40 | 5,568,652,679.89 |
| Net cash received from disposal of fixed assets, intangible assets and other long-term assets | 19,104,810.00 | 99,593,803.80 |
| Net cash received from disposal of subsidiaries and other business units | ||
| Cash received relating to other investing activities | 117,358,750.00 | 791,000,000.00 |
| Sub-total of cash inflows | 1,490,950,950.96 | 6,459,246,483.69 |
| Cash paid for acquisition of fixed assets, intangible assets and other long-term assets | 4,310,287,332.16 | 2,187,697,992.01 |
| Cash paid for acquisition of investments | 2,696,187,376.88 | 100,437,390.50 |
| Net cash paid for subsidiaries and other business units | ||
| Cash paid relating to other investing activities | 200,000,000.00 | 100,000,000.00 |
| Sub-total of cash outflows | 7,206,474,709.04 | 2,388,135,382.51 |
| Net cash flows from investing activities | -5,715,523,758.08 | 4,071,111,101.18 |
| III. CASH FLOWS FROM FINANCING ACTIVITIES: | ||
| Cash received from investors | ||
| Cash received from borrowings | ||
| Cash received from the issuance of bonds | ||
| Cash received relating to other financing activities | 461,856,503.42 | 664,542,033.46 |
| Sub-total of cash inflows | 461,856,503.42 | 664,542,033.46 |
| Cash repayments of borrowings | - | 1,980,000,000.00 |
| Cash paid for distribution of dividends or profits and interest expenses | 2,161,624,947.55 | 3,184,809,372.47 |
| Cash paid relating to other financing activities | ||
| Sub-total of cash outflows | 2,161,624,947.55 | 5,164,809,372.47 |
| Net cash flows from financing activities | -1,699,768,444.13 | -4,500,267,339.01 |
| IV. EFFECT OF CHANGES IN EXCHANGE RATE ON CASH | ||
| V. NET INCREASE IN CASH AND CASH EQUIVALENTS | -6,059,527,906.40 | -561,381,877.19 |
| Add: Opening balance of cash and cash equivalents | 20,172,657,984.53 | 22,326,566,084.67 |
| VI. CLOSING BALANCE OF CASH AND CASH EQUIVLANT | 14,113,130,078.13 | 21,765,184,207.48 |
II. Auditors’ Report
Whether the first quarter report has been audited
□Yes √No
The third quarter report has not been audited.