长安B：2024年半年度财务报告(英文版)

Chongqing Changan Automobile Company Limited2024 Semi-annual Report Financial Statements

August 2024

The Financial Statements

I. Auditing Report

No audit on the semi-annual financial report.II. Financial statementsFinancial in notes to the statements of the unit is: RMB yuan

1. Consolidated Balance Sheet

In RMB Yuan

Account	30 June 2024	1 January 2024
Current assets:
Cash	70,939,136,071.24	64,871,042,747.88
Trading financial assets	152,668,417.66	167,519,347.29
Notes receivable	33,995,528,463.15	37,658,391,214.01
Accounts receivable	2,989,231,105.41	2,411,796,419.07
Prepayments	582,581,159.41	287,711,010.62
Other receivables	455,008,697.40	894,268,431.82
Including: dividends receivable	22,469,320.00
Inventories	13,792,862,498.94	13,465,847,696.93
Contract assets	822,694,699.90	1,442,876,966.30
Other current assets	2,234,734,568.60	9,735,453,361.32
Total current assets	125,964,445,681.71	130,934,907,195.24
Non-current assets:
Long-term equity investments	14,109,162,499.18	13,787,391,985.47
Investment in other equity instruments	504,190,082.71	504,190,082.71
Investment properties	6,082,647.70	6,196,003.48
Fixed assets	19,515,251,831.25	19,994,084,908.14
Construction in progress	2,294,576,852.63	1,914,345,359.83
Right-of-use asset	217,698,854.98	209,480,676.04
Intangible assets	14,317,477,866.82	15,045,563,649.79
Development expenditure	3,295,839,663.04	2,241,820,556.70
Goodwill	1,810,730,443.16	1,810,730,443.16
Long-term deferred expenses	21,185,944.41	24,162,220.06
Deferred tax assets	3,410,080,327.14	3,248,254,057.65
Other non-current assets	1,854,972,231.98	450,000,000.00
Total non-current assets	61,357,249,245.00	59,236,219,943.03
TOTAL ASSETS	187,321,694,926.71	190,171,127,138.27
Current liabilities:
Short-term loans	54,056,333.40	30,039,416.74
Trading financial liabilities	12,941,513.71	-
Notes payable	40,811,542,603.74	37,456,669,928.07

Accounts payable	34,274,539,923.58	38,289,947,321.45
Advance receipts		686,755.00
Contract liability	5,996,592,698.42	7,923,792,852.77
Payroll payable	3,570,705,685.96	2,750,661,337.26
Taxes payable	865,791,188.25	1,928,723,907.38
Other payables	5,307,800,744.02	5,880,882,512.97
Non-current liabilities within one year	123,760,356.87	80,077,042.88
Other current liabilities	9,158,544,800.54	8,897,936,399.92
Total current liabilities	100,176,275,848.49	103,239,417,474.44
Non-current liabilities:
Long-term loans	36,000,000.00	72,000,000.00
Bonds payable	999,656,603.76	999,607,547.16
Lease liability	124,713,350.60	134,254,398.07
Long-term payables	957,892,237.43	952,446,118.57
Long-term payroll payable	27,195,616.49	30,414,000.00
Estimated liabilities	7,004,273,980.79	6,277,041,416.79
Deferred Revenue	676,551,823.49	718,840,543.52
Deferred tax liabilities	1,585,558,534.51	1,566,074,982.00
Other non-current liabilities	1,719,954,719.90	1,497,773,818.69
Total non-current liabilities	13,131,796,866.97	12,248,452,824.80
Total liabilities	113,308,072,715.46	115,487,870,299.24
Owners’ equity (or Shareholders’ equity):
Share capital	9,917,289,033.00	9,917,289,033.00
Capital reserves	8,443,323,719.70	8,251,287,637.70
Less: treasury shares	228,624,172.79	382,277,095.96
Other comprehensive income	200,717,168.37	118,318,784.04
Special reserves	94,130,498.99	54,323,330.34
Surplus reserves	4,276,245,864.64	4,276,245,864.64
Retained earnings	49,037,197,880.37	49,617,932,431.73
Equity attributable to owners	71,740,279,992.28	71,853,119,985.49
Minority interests	2,273,342,218.97	2,830,136,853.54
Total Owners’ equity (or Shareholders’ equity)	74,013,622,211.25	74,683,256,839.03
Liabilities and owners' equity (or shareholders' equity) in total	187,321,694,926.71	190,171,127,138.27

Legal person: Zhu Huarong Chief financial officer: Zhang Deyong The head of accounting department: Shi Haifeng

2. Balance sheet

In RMB Yuan

Account	30 June 2024	1 January 2024
Current assets:
Cash	43,872,608,287.07	44,029,520,088.62
Trading financial assets	152,668,417.66	160,744,733.27
Notes receivable	29,239,357,023.79	33,788,748,503.90
Accounts receivable	13,256,145,398.51	8,579,504,025.23
Prepayments	248,679,818.62	112,547,088.73
Other receivables	461,694,766.87	237,247,787.26

Including: dividends receivable	22,469,320.00	-
Inventories	4,642,954,960.30	5,615,873,258.35
Contract assets	85,341,261.61	128,498,871.61
Other current assets	224,524,115.71	5,522,797,370.57
Total current assets	92,183,974,050.14	98,175,481,727.54
Non-current assets:
Long-term equity investments	19,784,344,631.78	19,435,450,021.37
Investment in other equity instruments	504,190,082.71	504,190,082.71
Fixed assets	13,319,877,774.18	13,453,515,476.81
Construction in progress	1,544,281,630.52	1,407,521,918.44
Right-of-use asset	127,846,115.74	168,093,468.85
Intangible assets	3,274,175,149.92	3,312,017,680.07
Development expenditure	2,531,535,772.05	2,017,011,508.06
Long-term deferred expenses	18,777,059.34	21,709,036.17
Deferred tax assets	2,825,475,532.51	2,774,652,958.37
Other non-current assets	1,850,000,000.00	450,000,000.00
Total non-current assets	45,780,503,748.75	43,544,162,150.85
TOTAL ASSETS	137,964,477,798.89	141,719,643,878.39
Current liabilities:
Notes payable	27,067,980,763.07	25,950,782,831.24
Accounts payable	22,070,303,341.95	23,842,258,668.42
Contract liability	2,949,612,898.96	4,606,921,633.17
Payroll payable	2,560,749,341.58	1,919,102,689.66
Taxes payable	224,754,037.01	1,300,178,990.13
Other payables	2,871,795,581.74	3,236,371,408.79
Non-current liabilities within one year	85,324,798.98	56,170,742.39
Other current liabilities	6,241,141,829.11	6,286,218,965.50
Total current liabilities	64,071,662,592.40	67,198,005,929.30
Non-current liabilities:
Long-term loans	36,000,000.00	72,000,000.00
Bonds payable	999,656,603.76	999,607,547.16
Lease liability	79,310,093.24	117,490,288.82
Long-term payables	115,900,337.55	120,081,551.85
Long-term payroll payable	14,676,656.79	17,659,000.00
Estimated liabilities	4,623,843,903.17	4,402,025,046.54
Deferred Revenue	563,864,707.05	603,864,707.08
Deferred tax liabilities	195,239,883.03	197,625,245.62
Other non-current liabilities	1,503,921,144.12	1,287,646,146.69
Total non-current liabilities	8,132,413,328.71	7,817,999,533.76
Total liabilities	72,204,075,921.11	75,016,005,463.06
Owners’ equity (or Shareholders’ equity):
Share capital	9,917,289,033.00	9,917,289,033.00
Capital reserves	8,590,735,699.46	8,406,226,198.82
Less: treasury shares	228,624,172.79	382,277,095.96
Other comprehensive income	168,865,473.51	169,049,829.02
Special reserves	42,073,086.49	19,514,786.95

Surplus reserves	4,276,245,864.64	4,276,245,864.64
Retained earnings	42,993,816,893.47	44,297,589,798.86
Total Owners’ equity (or Shareholders’ equity)	65,760,401,877.78	66,703,638,415.33
Liabilities and owners' equity (or shareholders' equity) in total	137,964,477,798.89	141,719,643,878.39

3. Consolidated Income Statement

In RMB Yuan

Account	Current Period	Prior Period
1.Operating revenue	76,722,649,723.79	65,492,098,869.01
Less: Operating cost	66,134,307,155.12	54,790,036,298.76
Tax and surcharges	2,053,229,071.41	2,186,174,248.99
Operating expenses	3,077,988,414.27	2,280,397,591.19
General and administrative expenses	2,426,863,860.79	2,271,960,408.55
Research and development expenses	2,912,092,313.40	2,964,604,104.48
Financial expenses	(549,385,364.01)	(453,268,104.89)
Interest expense	39,521,477.44	36,814,471.44
Interest income	520,495,393.22	532,594,819.89
Add: Other income	1,442,510,651.32	657,988,649.18
Investment income	350,711,425.33	5,023,108,819.32
Including: Investment income from associates and joint venture	252,582,688.73	(180,436,966.53)
Gains from changes in fair value	(35,024,179.42)	(23,334,661.15)
Credit impairment loss	759,129.40	(15,513,488.10)
Asset impairment loss	(146,269,535.60)	(397,274,160.99)
Gain on disposal of assets	4,959,452.69	366,667,730.28
2.Operating profit	2,285,201,216.53	7,063,837,210.47
Add: Non-operating income	46,291,779.69	93,295,575.81
Less: Non-operating expenses	19,101,827.75	13,498,961.02
3.Total profit	2,312,391,168.47	7,143,633,825.26
Less: Income tax expense	65,628,900.78	176,620,825.19
4.Net profit	2,246,762,267.69	6,967,013,000.07
Classification by going concern
Net profit from continuing operations	2,246,762,267.69	6,967,013,000.07
Net profit from discontinued operations
Classification by ownership attribution
Net profit attributable to owners	2,831,743,111.82	7,652,979,346.80
Minority interests	(584,980,844.13)	(685,966,346.73)
5.Other comprehensive income, net of tax	82,398,384.33	47,734,187.34
Net after-tax net of other comprehensive income attributable to the parent company owner	82,398,384.33	47,734,187.34
(1) Other comprehensive income that cannot be reclassified into profit or loss	2.89
Other comprehensive income that cannot be converted to profit or loss under the equity method	2.89

(2) Other comprehensive income that will be reclassified into profit or loss	82,398,381.44	47,734,187.34
Other comprehensive income that can be transferred to profit or loss under the equity method	(184,358.40)
Foreign currency financial statement translation difference	82,582,739.84	47,734,187.34
6.Total comprehensive income	2,329,160,652.02	7,014,747,187.41
Total comprehensive income attributable to owners	2,914,141,496.15	7,700,713,534.14
Total comprehensive income attributable to minority interest	(584,980,844.13)	(685,966,346.73)
7.Earnings per share
Basic earnings per share	0.29	0.78
Diluted earnings per share	0.28	0.76

Legal person: Zhu Huarong Chief financial officer: Zhang Deyong The head of accounting department: Shi Haifeng

4. Income Statement

In RMB Yuan

Account	Current Period	Prior Period
1.Operating revenue	54,820,842,795.87	54,376,375,197.21
Less: Operating cost	49,023,998,757.68	46,041,110,508.89
Tax and surcharges	1,250,733,898.43	1,453,554,280.40
Operating expenses	929,133,285.59	869,903,070.69
General and administrative expenses	1,732,583,485.14	1,686,722,665.70
Research and development expenses	1,968,586,574.98	2,538,873,301.65
Financial expenses	-333,400,647.01	-368,021,413.76
Interest expense	19,451,693.91	22,584,078.19
Interest income	362,660,793.06	399,510,519.70
Add: Other income	1,224,353,991.64	657,920,000.00
Investment income	650,013,874.65	585,161,578.54
Including: Investment income from associates and joint venture	279,687,665.28	-141,552,078.57
Gains from changes in fair value	-8,076,315.61	32,897,781.54
Credit impairment loss	1,991,215.03	949,935.35
Asset impairment loss	-61,110,316.71	-288,325,731.15
Gain on disposal of assets	2,326,113.93	365,125,023.58
2.Operating profit	2,058,706,003.99	3,507,961,371.50
Add: Non-operating income	27,829,161.89	81,107,919.29
Less: Non-operating expenses	11,262,143.58	11,520,621.79
3.Total profit	2,075,273,022.30	3,577,548,669.00
Less: Income tax expense	-33,431,735.49	173,767,038.35
4.Net profit	2,108,704,757.79	3,403,781,630.65
Net profit from continuing operations	2,108,704,757.79	3,403,781,630.65
Net profit from discontinued operations
5.Other comprehensive income, net of tax	-184,355.51
6.Total comprehensive income	2,108,520,402.28	3,403,781,630.65

5. Consolidated cash flow statement

In RMB Yuan

Account	Current Period	Prior Period
1.Cash flows from operating activities:
Cash received from sale of goods or rendering of services	87,402,094,857.95	73,931,703,144.09
Refunds of taxes	2,283,448,047.92	1,199,246,444.10
Cash received relating to other operating activities	2,197,893,615.37	1,753,218,395.89
Subtotal of cash inflows	91,883,436,521.24	76,884,167,984.08
Cash paid for goods and services	72,075,595,167.36	55,650,532,027.02
Cash paid to and on behalf of employees	5,227,942,331.33	4,415,366,034.62
Cash paid for all types of taxes	6,484,391,928.94	5,442,991,004.83
Cash paid relating to other operating activities	4,660,406,353.08	4,419,822,204.02
Subtotal of cash outflows	88,448,335,780.71	69,928,711,270.49
Net cash flows from operating activities	3,435,100,740.53	6,955,456,713.59
2.Cashflows from investing activities:
Cash received from investment income	1,431,899.95	1,406,842.07
Net cash received from disposal of fixed assets, intangible assets and other long-term assets	270,398,351.71	35,915,330.45
Cash received relating to other investing activities	8,070,357,180.56	6,216,944,276.29
Subtotal of cash inflows	8,342,187,432.22	6,254,266,448.81
Cash paid for acquisition of fixed assets, intangible assets and other long-term assets	1,198,526,301.30	857,592,457.14
Cash paid for acquisition of investments	68,253,846.00	137,000,000.00
Cash paid relating to other investing activities	1,400,000,000.00
Subtotal of cash outflows	2,666,780,147.30	994,592,457.14
Net cash flows from investing activities	5,675,407,284.92	5,259,673,991.67
3.Cash flows from financing activities:
Absorb cash received from investment	30,957,178.38	35,190,000.00
Cash received from borrowing	34,000,000.00	90,000,000.00
Cash received relating to other financing activities	234,346,997.19	362,339,945.61
Subtotal of cash inflows	299,304,175.57	487,529,945.61
Cash repayments of borrowings	10,000,000.00	629,000,000.00
Cash paid for distribution of dividends or profits and interest expenses	3,416,455,425.29	6,163,524.40
Cash paid relating to other financing activities	181,013,652.58	418,524,690.02
Subtotal of cash outflows	3,607,469,077.87	1,053,688,214.42
Net cash flows from financing activities	(3,308,164,902.30)	(566,158,268.81)
4.Effect of changes in exchange rate on cash	(178,545,254.43)	13,258,565.35
5.Net increase in cash and cash equivalents	5,623,797,868.72	11,662,231,001.80
Add: Opening balance of cash and cash equivalents	63,925,957,901.11	52,491,435,047.74
6.Closing balance of cash and cash equivalents	69,549,755,769.83	64,153,666,049.54

6. Cash flow statement

In RMB Yuan

Account	Current Period	Prior Period
1.Cash flows from operating activities:

Cash received from sale of goods or rendering of services	57,231,280,855.81	57,757,311,678.85
Cash received relating to other operating activities	727,850.00	30,303,650.49
Cash received relating to other operating activities	1,380,231,417.17	1,828,991,752.50
Subtotal of cash inflows	58,612,240,122.98	59,616,607,081.84
Cash paid for goods and services	49,289,218,463.82	43,276,597,110.68
Cash paid to and on behalf of employees	3,276,956,936.68	2,826,100,179.04
Cash paid for all types of taxes	2,785,805,002.92	3,421,770,360.23
Cash paid relating to other operating activities	3,011,019,964.46	2,844,007,616.91
Subtotal of cash outflows	58,363,000,367.88	52,368,475,266.86
Net cash flows from operating activities	249,239,755.10	7,248,131,814.98
2.Cashflows from investing activities:
Cash received from investment recovery	298,979,999.95	1,556,842.07
Cash received from return on investments	12,748,015.59	8,857,134.39
Net cash received from disposal of fixed assets, intangible assets and other long-term assets	5,550,500,000.00
Subtotal of cash inflows	5,862,228,015.54	10,413,976.46
Cash paid for acquisition of fixed assets, intangible assets and other long-term assets	1,020,364,923.37	723,218,813.52
Cash paid for acquisition of investments	308,253,846.00	1,069,135,009.18
Subtotal of cash outflows	1,490,000,000.00
Net cash flows from investing activities	2,818,618,769.37	1,792,353,822.70
3.Cash flows from financing activities:
Cash received from borrowings		40,000,000.00
Subtotal of cash inflows		40,000,000.00
Cash paid for debt repayment		600,000,000.00
Cash paid for distribution of dividends or profits and interest expenses	3,412,863,996.51	3,470,000.00
Cash paid relating to other financing activities	40,217,966.73	32,666,733.27
Subtotal of cash outflows	3,453,081,963.24	636,136,733.27
Net cash flows from financing activities	(3,453,081,963.24)	(596,136,733.27)
4.Effect of changes in exchange rate on cash
5.Net increase in cash and cash equivalents	(160,232,961.97)	4,870,055,235.47
Add: Opening balance of cash and cash equivalents	44,023,772,482.14	44,732,418,327.28
6.Closing balance of cash and cash equivalents	43,863,539,520.17	49,602,473,562.75

7. Consolidated statement of changes in shareholders’ equity

Current Period

In RMB Yuan

Items	Current period
	Equity attributable to owners							Minority interest	Total equity
	Share capital	Capital reserves	Less: Treasury shares	Other comprehensive income	Special reserve	Surplus reserve	Retained earnings
I. At end of last year	9,917,289,033.00	8,251,287,637.70	382,277,095.96	118,318,784.04	54,323,330.34	4,276,245,864.64	49,617,932,431.73	2,830,136,853.54	74,683,256,839.03
II. At beginning of year	9,917,289,033.00	8,251,287,637.70	382,277,095.96	118,318,784.04	54,323,330.34	4,276,245,864.64	49,617,932,431.73	2,830,136,853.54	74,683,256,839.03
III. Changes during the year		192,036,082.00	(153,652,923.17)	82,398,384.33	39,807,168.65		(580,734,551.36)	(556,794,634.57)	(669,634,627.78)
1.Total comprehensive income				82,398,384.33			2,831,743,111.82	(584,980,844.13)	2,329,160,652.02
2. Capital contributed by owners and capital decreases		192,036,082.00	(132,685,226.16)					23,433,418.96	348,154,727.12
(1) Ordinary shares invested by owners								30,960,000.00	30,960,000.00
(2) The amount of share-based payment included in owner's equity		181,288,200.00							181,288,200.00
(3) Others		10,747,882.00	(132,685,226.16)					(7,526,581.04)	135,906,527.12
3. Distribution of profit			(20,967,697.01)				(3,412,477,663.18)		(3,391,509,966.17)
(1) Distribution to owners			(20,967,697.01)				(3,412,477,663.18)		(3,391,509,966.17)
4.Internal carry forward of owner's equity
5. Special reserves					39,807,168.65			4,752,790.60	44,559,959.25
(1) Pick-up in current period					63,437,107.75			5,888,705.99	69,325,813.74
(2) Used in current period					(23,629,939.10)			(1,135,915.39)	(24,765,854.49)
6.Others
IV. At end of current period	9,917,289,033.00	8,443,323,719.70	228,624,172.79	200,717,168.37	94,130,498.99	4,276,245,864.64	49,037,197,880.37	2,273,342,218.97	74,013,622,211.25

Prior period

In RMB Yuan

Items	Prior period
	Equity attributable to owners							Minority interest	Total equity
	Share capital	Capital reserves	Less: Treasury shares	Other comprehensive income	Special reserve	Surplus reserve	Retained earnings
I. At end of last year	9,921,799,422.00	8,532,806,685.77	627,060,416.52	98,841,615.42	24,090,898.05	3,528,137,635.53	41,379,489,865.45	90,698,855.79	62,948,804,561.49
II. At beginning of year	9,921,799,422.00	8,532,806,685.77	627,060,416.52	98,841,615.42	24,090,898.05	3,528,137,635.53	41,379,489,865.45	90,698,855.79	62,948,804,561.49
III. Changes during the year	(2,476,422.00)	(477,465,238.31)	(184,193,941.80)	47,734,187.34	29,475,687.52		5,311,564,478.68	3,888,515,629.87	8,981,542,264.90
1.Total comprehensive income				47,734,187.34			7,652,979,346.80	(685,966,346.73)	7,014,747,187.41
2. Capital contributed by owners and capital decreases	(2,476,422.00)	(477,465,238.31)	(157,449,592.97)						(322,492,067.34)
(1) The amount of share-based payment included in owner's equity
(2) Amount of share based payment recognized in owner's equity		187,899,000.00							187,899,000.00
(3) Others	(2,476,422.00)	(665,364,238.31)	(157,449,592.97)						(510,391,067.34)
3. Distribution of profit			(26,744,348.83)				(2,341,414,868.12)	(150,000.00)	(2,314,820,519.29)
(1) Distribution to owners			(26,744,348.83)				(2,341,414,868.12)	(150,000.00)	(2,314,820,519.29)
(2) Others
4.Internal carry forward of owner's equity
5. Special reserves					29,475,687.52				29,475,687.52
(1) Pick-up in current period					64,708,453.30				64,708,453.30
(2) Used in current period					(35,232,765.78)				(35,232,765.78)
6.Others								4,574,631,976.60	4,574,631,976.60
IV. At end of current period	9,919,323,000.00	8,055,341,447.46	442,866,474.72	146,575,802.76	53,566,585.57	3,528,137,635.53	46,691,054,344.13	3,979,214,485.66	71,930,346,826.39

8. Statement of changes in shareholders’ equity

Current Period

In RMB Yuan

Items	Current period
	Share capital	Capital reserves	Less: Treasury shares	Other comprehensive income	Special reserve	Surplus reserve	Retained earnings	Total equity
I. At end of last year	9,917,289,033.00	8,406,226,198.82	382,277,095.96	169,049,829.02	19,514,786.95	4,276,245,864.64	44,297,589,798.86	66,703,638,415.33
II. At beginning of year	9,917,289,033.00	8,406,226,198.82	382,277,095.96	169,049,829.02	19,514,786.95	4,276,245,864.64	44,297,589,798.86	66,703,638,415.33
III. Changes during the year		184,509,500.64	(153,652,923.17)	(184,355.51)	22,558,299.54		(1,303,772,905.39)	(943,236,537.55)
1.Total comprehensive income				(184,355.51)			2,108,704,757.79	2,108,520,402.28
2. Capital contributed by owners and capital decreases		184,509,500.64	(132,685,226.16)					317,194,726.80
(1) The amount of share-based payment included in owner's equity		181,288,200.00						181,288,200.00
(2) Others		3,221,300.64	(132,685,226.16)					135,906,526.80
3. Distribution of profit			(20,967,697.01)				(3,412,477,663.18)	(3,391,509,966.17)
(1) Distribution to owners			(20,967,697.01)				(3,412,477,663.18)	(3,391,509,966.17)
4.Internal carry forward of owner's equity
5. Special reserves					22,558,299.54			22,558,299.54
(1) Pick-up in current period					36,217,694.10			36,217,694.10
(2) Used in current period					(13,659,394.56)			(13,659,394.56)
6.Disposal of subsidiaries
IV. At end of current period	9,917,289,033.00	8,590,735,699.46	228,624,172.79	168,865,473.51	42,073,086.49	4,276,245,864.64	42,993,816,893.47	65,760,401,877.78

Prior period

In RMB Yuan

Items	Prior period
	Share capital	Capital reserves	Less: Treasury shares	Other comprehensive income	Special reserve	Surplus reserve	Retained earnings	Total equity
I. At end of last year	9,921,799,422.00	8,047,195,325.61	627,060,416.52	157,416,810.63	10,285,640.79	3,528,137,635.53	39,906,030,604.91	60,943,805,022.95
II. At beginning of year	9,921,799,422.00	8,047,195,325.61	627,060,416.52	157,416,810.63	10,285,640.79	3,528,137,635.53	39,906,030,604.91	60,943,805,022.95
III. Changes during the year	(2,476,422.00)	180,705,090.69	(184,193,941.80)		13,850,533.06		1,062,366,762.53	1,438,639,906.08
1.Total comprehensive income							3,403,781,630.65	3,403,781,630.65
2. Capital contributed by owners and capital decreases	(2,476,422.00)	180,705,090.69	(157,449,592.97)					335,678,261.66
(1) The amount of share-based payment included in owner's equity		187,899,000.00						187,899,000.00
(2) Others	(2,476,422.00)	(7,193,909.31)	(157,449,592.97)					147,779,261.66
3. Distribution of profit			(26,744,348.83)				(2,341,414,868.12)	(2,314,670,519.29)
Distribution to owners			(26,744,348.83)				(2,341,414,868.12)	(2,314,670,519.29)
4.Internal carry forward of owner's equity
5. Special reserves					13,850,533.06			13,850,533.06
(1) Pick-up in current period					32,871,513.66			32,871,513.66
(2) Used in current period					(19,020,980.60)			(19,020,980.60)
6.Disposal of subsidiaries
IV. At end of current period	9,919,323,000.00	8,227,900,416.30	442,866,474.72	157,416,810.63	24,136,173.85	3,528,137,635.53	40,968,397,367.44	62,382,444,929.03

III. CORPORATE INFORMATION

Chongqing Changan Automobile Co., Ltd. (hereinafter referred to as "the Company" or "the Company") is a limited liability companyregistered in Chongqing in October 1996. Listed on the Shenzhen Stock Exchange in June 1997. As of June 30th, 2024, the total issuedshare capital of the Company is 9917289033 shares, registered at 260 Jianxin East Road, Jiangbei District, Chongqing, China, with anoffice address at Building T2, Financial City 2, No. 61 Dongshengmen Road, Jiangbei District, Chongqing, China.

The main business activities engaged in by our company include the manufacturing and sales of automobiles (including sedans),automobile engine series products, and supporting components.

The parent company of our company is China Changan Automobile Group Co., Ltd., and the ultimate controlling party of our companyis China Ordnance Equipment Group Co., Ltd.IV. BASIS OF PREPARATION

1. Basis of compilation

This financial statement has been prepared in accordance with the "Enterprise Accounting Standards - Basic Standards" issued by theMinistry of Finance, various specific accounting standards, application guidelines for enterprise accounting standards, interpretationsof enterprise accounting standards, and other relevant regulations (hereinafter referred to as "Enterprise Accounting Standards"), aswell as the relevant provisions of the "Information Disclosure and Reporting Rules for Companies that Publicly Issue Securities No.15- General Provisions on Financial Reports" issued by the China Securities Regulatory Commission.

2. Going-concern

The financial statements are presented on a going concern basis.V. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

1. Statement of compliance with Accounting Standards for Business Enterprises

The financial statements present fairly and fully, the financial position of the company on 30th June 2024 and the financial results andthe cash flows in the half year of 2024 then ended in accordance with Accounting Standards for Business Enterprises.

2. Accounting year

The accounting year of the Group is from 1 January to 31 December of each calendar year.

3. Functional currency

The Group’s functional and reporting currency is the Renminbi (“RMB”). Unless otherwise stated, the unit of the currency is Yuan.Each entity in the Group determines its own functional currency in accordance with the operating circumstances. At the end of thereporting period, the foreign currency financial statements are translated into the reporting currency of the Company of RMB.

4. Accounting treatment methods for mergers of enterprises under the same control and those not under the same control

Business combination involving entities under common control

The assets and liabilities acquired by the merging party in a business merger (including goodwill formed by the ultimate controllingparty's acquisition of the merged party) shall be measured based on the carrying amount of the merged party's assets and liabilities inthe consolidated financial statements of the ultimate controlling party on the merger date. The difference between the book value ofnet assets obtained in the merger and the book value of the merger consideration paid (or the total face value of the issued shares) shallbe adjusted to the share premium in the capital reserve. If the share premium in the capital reserve is insufficient to offset, the retainedearnings shall be adjusted.

Business combination involving entities not under common control

The merger cost is the fair value of the assets, liabilities, and equity securities issued by the acquirer on the acquisition date to obtaincontrol of the acquired party. The difference between the merger cost and the fair value of the identifiable net assets acquired from

the acquired party in the merger is recognized as goodwill; The difference between the merger cost and the fair value of theidentifiable net assets acquired from the acquired party in the merger shall be recognized in the current period's profit and loss. Theidentifiable assets, liabilities, and contingent liabilities acquired from the acquired party in the merger that meet the recognitioncriteria shall be measured at fair value on the acquisition date.

The directly related expenses incurred for the merger of enterprises shall be included in the current period's profit and loss at the timeof occurrence; The transaction costs of issuing equity securities or debt securities for corporate mergers shall be included in the initialrecognition amount of equity securities or debt securities.

5. Judgment criteria for control and preparation methods for consolidated financial statements

Judgment criteria for control

The consolidation scope of the consolidated financial statements is determined based on control, which includes the company and allits subsidiaries. Control refers to the company having the power over the investee, enjoying variable returns through participation inrelated activities of the investee, and having the ability to use its power over the investee to influence its return amount.

Merge Program

Our company regards the entire enterprise group as an accounting entity and prepares consolidated financial statements in accordancewith unified accounting policies, reflecting the overall financial condition, operating results, and cash flows of our enterprise group.The impact of internal transactions between our company and its subsidiaries, as well as between subsidiaries themselves, shall beoffset. If internal transactions indicate impairment losses on related assets, the full amount of such losses shall be recognized. If theaccounting policies and accounting periods adopted by the subsidiary are inconsistent with those of the company, necessary adjustmentsshall be made in accordance with the accounting policies and accounting periods of the company when preparing the consolidatedfinancial statements.

The equity of subsidiary owners, current net profit and loss, and current comprehensive income belonging to minority shareholders areseparately listed under the equity item, net profit item, and total comprehensive income item in the consolidated balance sheet. If thecurrent losses shared by minority shareholders of a subsidiary exceed the balance formed by the minority shareholders' share of thesubsidiary's initial owner's equity, the minority shareholders' equity shall be offset.

(1) Add subsidiaries or businesses

During the reporting period, if a subsidiary or business is added due to a merger of enterprises under the same control, the operatingresults and cash flows of the subsidiary or business from the beginning of the current period to the end of the reporting period shall beincluded in the consolidated financial statements. At the same time, adjustments shall be made to the opening balance of theconsolidated financial statements and relevant items in the comparative statements, as if the merged reporting entity had existed sincethe time when the ultimate controlling party began to control it.For equity investments held before obtaining control of the investee under the same control due to additional investments or otherreasons, the relevant gains and losses, other comprehensive income, and other changes in net assets recognized between the date ofacquisition of the original equity and the date when both the acquirer and the investee are under the same control until the merger dateshall be offset against the beginning retained earnings or current period gains and losses during the comparative reporting period.During the reporting period, if a subsidiary or business is added due to a merger of enterprises not under the same control, the fair valueof identifiable assets, liabilities, and contingent liabilities determined on the acquisition date shall be included in the consolidatedfinancial statements from the acquisition date onwards.If it is possible to exercise control over an investee that is not under the same control due to additional investment or other reasons, theequity held in the investee before the purchase date shall be remeasured at its fair value on the purchase date, and the difference betweenthe fair value and its book value shall be included in the current investment income. The equity of the purchased party held before thepurchase date, which can be reclassified into profit or loss in the future, and other changes in owner's equity accounted for under theequity method, shall be converted into investment income for the current period to which the purchase date belongs.

(2) Disposal of subsidiaries

① General handling method

When control over the investee is lost due to the disposal of some equity investments or other reasons, the remaining equity investmentsafter disposal shall be remeasured at their fair value on the date of loss of control. The difference between the consideration obtainedfrom the disposal of equity and the fair value of the remaining equity, minus the share of net assets of the original subsidiary that shouldbe enjoyed continuously from the purchase date or merger date and the sum of goodwill calculated based on the original shareholdingratio, shall be included in the investment income of the current period when control is lost. Other comprehensive income related toequity investments in existing subsidiaries that can be reclassified into profit or loss in the future, as well as changes in other owner'sequity accounted for under the equity method, are converted into current investment income upon loss of control.

② Step by step disposal of subsidiaries

If the equity investment in a subsidiary is disposed of through multiple transactions until control is lost, and the terms, conditions, andeconomic impact of each transaction for disposing of the equity investment in the subsidiary meet one or more of the followingsituations, it usually indicates that the multiple transactions are a package deal:

I. These transactions were entered into simultaneously or taking into account their mutual influence;II. These transactions as a whole are necessary to achieve a complete business outcome;III. The occurrence of a transaction depends on the occurrence of at least one other transaction;IV.When viewed alone, a transaction may not be economical, but when considered together with other transactions, it is economical.If each transaction belongs to a package deal, it shall be accounted for as a transaction for disposing of a subsidiary and losing control;Before losing control, the difference between the disposal price and the share of net assets of the subsidiary corresponding to thedisposal investment is recognized as other comprehensive income in the consolidated financial statements, and is transferred to thecurrent period's profit or loss upon loss of control.If the various transactions do not belong to a package deal, accounting treatment shall be carried out for the partial disposal of equityinvestments in subsidiaries without losing control before losing control; When losing control, accounting treatment should be carriedout according to the general treatment method for disposing of subsidiaries.

(3) Purchase minority equity of subsidiary

The difference between the long-term equity investment acquired through the purchase of minority equity and the net asset share ofthe subsidiary that should be continuously calculated from the date of purchase or merger based on the newly added shareholding ratioshall be adjusted by adjusting the share premium in the capital reserve in the consolidated balance sheet. If the share premium in thecapital reserve is insufficient to offset, the retained earnings shall be adjusted.

(4) Partial disposal of equity investments in subsidiaries without losing control

The difference between the disposal price and the share of net assets of the subsidiary that corresponds to the disposal of long-termequity investments, calculated continuously from the date of purchase or merger, shall be adjusted by adjusting the share premium inthe capital reserve in the consolidated balance sheet. If the share premium in the capital reserve is insufficient to offset, the retainedearnings shall be adjusted.

6. Cash and cash equivalents

Cash comprises cash on hand and bank deposits which can be used for payment at any time; Cash equivalents are short-term, highlyliquid investments held by the Group, that are readily convertible to known amounts of cash and which are subject to an insignificantrisk of changes in value.

7. Foreign currency translation

Foreign currency transactions

Foreign currency transactions use the spot exchange rate on the transaction date as the conversion rate to convert foreign currencyamounts into RMB for accounting purposes.

The balance of foreign currency monetary items on the balance sheet date is translated at the spot exchange rate on the balance sheetdate. Any exchange differences arising from this are recognized in the current period's profit or loss, except for those related toforeign currency borrowings for the acquisition and construction of assets that meet capitalization criteria, which are treated inaccordance with the principle of capitalizing borrowing costs.

Translation of foreign currency financial statements

The asset and liability items in the balance sheet are translated using the spot exchange rate on the balance sheet date; Except for the"undistributed profits" item, all other owner's equity items are converted at the spot exchange rate at the time of occurrence. Theincome and expense items in the income statement are converted using the spot exchange rate on the transaction date.

When disposing of overseas operations, the foreign currency financial statement translation differences related to the overseasoperations shall be transferred from the owner's equity item to the current profit and loss for disposal.

8. Financial instruments

When the company becomes a party to a financial instrument contract, it recognizes a financial asset, financial liability, or equityinstrument. The owner's equity items are transferred to the current period's profit and loss for disposal.

Classification of financial instruments

Based on the business model of managing financial assets and the contractual cash flow characteristics of financial assets, financialassets are classified at initial recognition as follows: financial assets measured at amortized cost, financial assets measured at fair valuewith changes in fair value recognized in other comprehensive income, and financial assets measured at fair value with changes in fairvalue recognized in current profit or loss.

Our company classifies financial assets that meet the following conditions and have not been designated as measured at fair value withchanges recognized in current profit or loss as financial assets measured at amortized cost:

- The business model aims to collect contractual cash flows;- The cash flow of the contract is only for the payment of principal and interest based on the unpaid principal amount.

The Company will classify financial assets (debt instruments) that meet the following conditions and have not been designated asmeasured at fair value with changes in fair value recognized in current profit or loss as financial assets measured at fair value withchanges in fair value recognized in other comprehensive income:

- The business model aims to both collect contractual cash flows and sell the financial asset;- The cash flow of the contract is only for the payment of principal and interest based on the unpaid principal amount.

For non trading equity instrument investments, the Company may irrevocably designate them as financial assets (equity instruments)measured at fair value with changes recognized in other comprehensive income upon initial recognition. This designation is made onthe basis of a single investment, and the related investment meets the definition of an equity instrument from the issuer's perspective.

Except for the financial assets measured at amortized cost and measured at fair value with changes in fair value recognized in othercomprehensive income mentioned above, the Company classifies all other financial assets as financial assets measured at fair valuewith changes in fair value recognized in current profit or loss.

Financial liabilities are classified at initial recognition as follows: financial liabilities measured at fair value with changes recognizedin profit or loss and financial liabilities measured at amortized cost.

Recognition criteria and measurement methods for financial instruments

(1) Financial assets measured at amortized cost

Financial assets measured at amortized cost include notes receivable, accounts receivable, other receivables, long-term receivables,debt investments, etc. They are initially measured at fair value, and related transaction costs are included in the initial recognitionamount; Accounts receivable that do not include significant financing components and accounts receivable for which the company hasdecided not to consider financing components that do not exceed one year shall be initially measured at the contract transaction price.

The interest calculated using the effective interest rate method during the holding period is included in the current period's profit andloss.

When recovering or disposing of, the difference between the proceeds obtained and the book value of the financial asset shall berecognized in the current period's profit and loss.

(2) Financial assets (debt instruments) measured at fair value with changes recognized in other comprehensive income

Financial assets (debt instruments) measured at fair value with changes in fair value recognized in other comprehensive income,including accounts receivable financing, other debt investments, etc., are initially measured at fair value and related transaction costsare included in the initial recognition amount. The financial asset is subsequently measured at fair value, and changes in fair value arerecognized in other comprehensive income, except for interest, impairment losses or gains, and exchange gains or losses calculatedusing the effective interest rate method.

When terminating recognition, the cumulative gains or losses previously recognized in other comprehensive income are transferredfrom other comprehensive income and recognized in the current period's profit or loss.

(3) Financial assets (equity instruments) measured at fair value with changes recognized in other comprehensive income

Financial assets (equity instruments) measured at fair value with changes in fair value recognized in other comprehensive income,including other equity instrument investments, are initially measured at fair value and related transaction costs are included in the initialrecognition amount. The financial asset is subsequently measured at fair value, and changes in fair value are recognized in othercomprehensive income. The dividends obtained are recognized in the current period's profit and loss.

When terminating recognition, the cumulative gains or losses previously recognized in other comprehensive income are transferredfrom other comprehensive income and recorded in retained earnings.

(4) Financial assets measured at fair value with changes recognized in current profit or loss

Financial assets measured at fair value with changes recognized in current profit or loss include trading financial assets, derivativefinancial assets, other non current financial assets, etc. They are initially measured at fair value, and related transaction costs arerecognized in current profit or loss. The financial asset is subsequently measured at fair value, and changes in fair value are recognizedin the current period's profit or loss.

(5) Financial liabilities measured at fair value with changes recognized in current profit or loss

Financial liabilities measured at fair value with changes recognized in current profit or loss, including trading financial liabilities,derivative financial liabilities, etc., are initially measured at fair value and related transaction costs are recognized in current profit orloss. The financial liability is subsequently measured at fair value, and changes in fair value are recognized in the current period's profitor loss.

When terminating recognition, the difference between its book value and the consideration paid is recognized in the current period'sprofit or loss.

(6) Financial liabilities measured at amortized cost

Financial liabilities measured at amortized cost include short-term borrowings, notes payable, accounts payable, other payables, long-term borrowings, bonds payable, and long-term payables, which are initially measured at fair value and related transaction costs areincluded in the initial recognition amount.

The interest calculated using the effective interest rate method during the holding period is included in the current period's profit andloss.

When terminating recognition, the difference between the consideration paid and the carrying amount of the financial liability shall berecognized in the current period's profit or loss.

Recognition criteria and measurement methods for derecognition of financial assets and transfer of financial assets

When one of the following conditions is met, the company will terminate the recognition of financial assets:

- Termination of contractual rights to receive cash flows from financial assets;- The financial assets have been transferred and almost all risks and rewards of ownership of the financial assets have been transferredto the transferee;- The financial assets have been transferred, although the company has neither transferred nor retained almost all the risks and rewardsof ownership of the financial assets, it has not retained control over the financial assets.

If the Company modifies or renegotiates a contract with a counterparty that constitutes a substantial modification, the recognition ofthe original financial asset shall be terminated, and a new financial asset shall be recognized in accordance with the modified terms.

When a financial asset transfer occurs, if almost all the risks and rewards of ownership of the financial asset are retained, the recognitionof the financial asset shall not be terminated.

When determining whether the transfer of financial assets meets the above conditions for termination of recognition of financial assets,the principle of substance over form is adopted.

The company divides the transfer of financial assets into overall transfer and partial transfer. If the overall transfer of financial assetsmeets the conditions for termination of recognition, the difference between the following two amounts shall be recognized in the currentperiod's profit and loss:

(1) The book value of the transferred financial assets;

(2) The sum of the consideration received as a result of the transfer and the cumulative amount of fair value changes originallyrecognized directly in owner's equity (in the case of financial assets (debt instruments) measured at fair value with changes recognizedin other comprehensive income).

If the partial transfer of financial assets meets the termination recognition conditions, the overall book value of the transferred financialassets shall be amortized between the terminated recognition portion and the non terminated recognition portion based on theirrespective relative fair values, and the difference between the following two amounts shall be recognized in the current period's profitand loss:

(1) Terminate the book value of the confirmed portion;

(2) The consideration for the derecognized portion is the sum of the amount corresponding to the derecognized portion of the cumulativefair value changes that were originally directly recognized in owner's equity (in the case of financial assets (debt instruments) that aremeasured at fair value and whose changes are recognized in other comprehensive income).If the transfer of financial assets does not meet the termination recognition criteria, the financial assets shall continue to be recognized,and the consideration received shall be recognized as a financial liability.

Termination of recognition of financial liabilities

If the current obligations of a financial liability have been fully or partially released, the recognition of that financial liability or aportion thereof shall be terminated; If our company signs an agreement with creditors to replace existing financial liabilities byassuming new financial liabilities, and the contract terms of the new financial liabilities are substantially different from those of theexisting financial liabilities, we will terminate the recognition of the existing financial liabilities and recognize the new financialliabilities at the same time.

If substantial modifications are made to all or part of the contractual terms of an existing financial liability, the recognition of theexisting financial liability or a portion thereof shall be terminated, and the modified financial liability shall be recognized as a newfinancial liability.

When all or part of a financial liability is derecognized, the difference between the carrying amount of the derecognized financialliability and the consideration paid (including non cash assets transferred out or new financial liabilities assumed) is recognized in thecurrent period's profit or loss.

If the company repurchases a portion of its financial liabilities, the overall book value of the financial liabilities shall be allocated onthe repurchase date based on the relative fair value of the continuing recognition portion and the derecognized portion. The differencebetween the book value allocated to the derecognized portion and the consideration paid (including non cash assets transferred out ornew financial liabilities assumed) is recognized in the current period's profit or loss.

Method for determining the fair value of financial assets and financial liabilities

Financial instruments with an active market are determined at fair value based on their quoted prices in the active market. Financialinstruments without an active market are valued using valuation techniques to determine their fair value. In valuation, our companyadopts valuation techniques that are applicable in the current situation and supported by sufficient available data and other information,selects input values that are consistent with the asset or liability characteristics considered by market participants in transactions relatedto the asset or liability, and prioritizes the use of relevant observable input values. Only when the relevant observable input valuescannot be obtained or are not feasible to obtain, should unobservable input values be used.

Testing and accounting treatment methods for impairment of financial instruments

Our company performs impairment accounting treatment on financial assets measured at amortized cost, financial assets measured atfair value with changes in fair value recognized in other comprehensive income (debt instruments), and financial guarantee contractsbased on expected credit losses.

Our company considers reasonable and evidence-based information regarding past events, current conditions, and predictions of futureeconomic conditions, and uses the risk of default as a weight to calculate the probability weighted amount of the present value of thedifference between the cash flows receivable under the contract and the expected cash flows to be received, in order to recognizeexpected credit losses.

For accounts receivable and contract assets formed by transactions regulated by the Accounting Standards for Business Enterprises No.14- Revenue, regardless of whether they contain significant financing components, the Company always measures its loss provision atan amount equivalent to the expected credit loss throughout the entire existence period.

For lease receivables arising from transactions regulated by Accounting Standards for Business Enterprises No. 21- Leases, theCompany chooses to always measure its loss provision at an amount equivalent to the expected credit loss over the entire duration.For other financial instruments, the Company evaluates the changes in credit risk of the relevant financial instruments since initialrecognition on each balance sheet date.

Our company compares the risk of default of financial instruments on the balance sheet date with the risk of default on the initialrecognition date to determine the relative change in default risk during the expected lifespan of financial instruments, in order to assesswhether the credit risk of financial instruments has significantly increased since initial recognition. Usually, if the overdue periodexceeds 30 days, our company considers that the credit risk of the financial instrument has significantly increased, unless there isconclusive evidence to prove that the credit risk of the financial instrument has not significantly increased since initial recognition.If the credit risk of a financial instrument on the balance sheet date is low, the Company considers that the credit risk of the financialinstrument has not significantly increased since initial recognition.

If the credit risk of the financial instrument has significantly increased since its initial recognition, the Company shall measure its lossprovision based on an amount equivalent to the expected credit loss of the financial instrument throughout its entire life cycle; If thecredit risk of the financial instrument has not significantly increased since initial recognition, the Company measures its loss provisionbased on an amount equivalent to the expected credit loss of the financial instrument in the next 12 months. The increase or reversalamount of loss provision resulting from this shall be recognized as impairment loss or gain in the current period's income statement.For financial assets (debt instruments) measured at fair value with changes recognized in other comprehensive income, a provision forlosses is recognized in other comprehensive income and impairment losses or gains are recognized in the current period's profit or loss,without reducing the carrying value of the financial asset as shown in the balance sheet.

9. Contract assets

Confirmation methods and standards for contract assets

Our company lists contract assets or contract liabilities in the balance sheet based on the relationship between fulfilling performanceobligations and customer payments. The right of our company to receive consideration for the transfer of goods or provision of servicesto customers (subject to factors other than the passage of time) is listed as a contractual asset. The contract assets and contract liabilitiesunder the same contract are presented on a net basis. The unconditional (subject only to the passage of time) right of our company tocollect consideration from customers is separately listed as accounts receivable.

Determination method and accounting treatment method for expected credit losses of contract assets

The determination method and accounting treatment method for expected credit losses of contract assets are detailed in Note 8,Financial Instruments.

10. Inventories

Classification and cost of inventory

Inventory classification includes: in transit materials, raw materials, turnover materials, inventory goods, work in progress, shippedgoods, commissioned processing materials, etc.Inventory is initially measured at cost, which includes procurement costs, processing costs, and other expenses incurred to bringinventory to its current location and condition.

Valuation method for issuing inventory

Adopt the weighted average method.

Inventory system for inventory

Adopting perpetual inventory system.

Amortization method for low value consumables and packaging materials

(1) Low value consumables are sold using a one-time turnover method;

(2) The packaging adopts a one-time resale method.

Recognition criteria and provision method for inventory depreciation reserves

On the balance sheet date, inventory should be measured at the lower of cost and net realizable value. When the cost of inventory ishigher than its net realizable value, a provision for inventory impairment should be made. Net realizable value refers to the estimatedselling price of inventory in daily activities, minus the estimated costs to be incurred until completion, estimated sales expenses, andrelated taxes and fees.

The net realizable value of goods inventory directly used for sale, such as finished products, inventory goods, and materials for sale,is determined by subtracting estimated sales expenses and related taxes from the estimated selling price of the inventory in thenormal process of production and operation; The net realizable value of inventory of materials that require processing is determinedby subtracting the estimated costs to be incurred until completion, estimated sales expenses, and related taxes from the estimatedselling price of the finished products produced during normal production and operation processes; The net realizable value ofinventory held for the purpose of executing sales or service contracts is calculated based on the contract price. If the quantity ofinventory held exceeds the quantity ordered in the sales contract, the net realizable value of the excess inventory is calculated basedon the general sales price.

After the provision for inventory impairment has been made, if the influencing factors that previously reduced the value of inventoryhave disappeared, resulting in the net realizable value of inventory being higher than its book value, it shall be reversed within theoriginal provision for inventory impairment, and the reversed amount shall be included in the current period's profit and loss.

11.Assets held for sale

If the book value of a non current asset is mainly recovered through sale (including exchange of non monetary assets withcommercial substance) rather than continuous use or disposal of the asset, it is classified as held for sale.

Our company categorizes non current assets or disposal groups that meet the following conditions as held for sale:

(1) According to the convention of selling such assets or disposing of groups in similar transactions, they can be sold immediately inthe current situation;

(2) The sale is highly likely to occur, as our company has already made a resolution on a sale plan and obtained a definite purchasecommitment. It is expected that the sale will be completed within one year. If the relevant regulations require approval from therelevant authorities or regulatory departments of our company before it can be sold, approval has already been obtained.

If non current assets (excluding financial assets, deferred tax assets, and assets formed by employee compensation) or disposalgroups are classified as held for sale, and their book value is higher than the net amount of fair value minus selling expenses, thebook value shall be reduced to the net amount of fair value minus selling expenses, and the reduced amount shall be recognized asasset impairment loss and included in the current period's profit and loss. At the same time, provision for impairment of held for saleassets shall be made.

12. Long-term equity investments

Judgment criteria for joint control and significant influence

Joint control refers to the shared control over a certain arrangement in accordance with relevant agreements, and the related activitiesof the arrangement must be unanimously agreed upon by the parties sharing control rights before making decisions. If our companyand other joint venture partners jointly control the invested entity and have rights to the net assets of the invested entity, the investedentity is our company's joint venture.

Significant impact refers to having the power to participate in the financial and operational decisions of the invested entity, but notbeing able to control or jointly control the formulation of these policies with other parties. If our company is able to exert significantinfluence on the invested entity, the invested entity is our joint venture.

Determination of initial investment cost

(1) Long term equity investments formed by corporate mergers

For long-term equity investments in subsidiaries formed by the merger of enterprises under the same control, the initial investment cost

of the long-term equity investment shall be determined on the merger date based on the share of the book value of the acquired owner'sequity in the final controlling party's consolidated financial statements. The difference between the initial investment cost of long-termequity investment and the book value of the consideration paid shall be adjusted for the equity premium in the capital reserve; Whenthe share premium in the capital reserve is insufficient to offset, adjust the retained earnings. If it is possible to exercise control overthe invested entity under the same control due to additional investment or other reasons, the difference between the initial investmentcost of the long-term equity investment recognized according to the above principles and the book value of the long-term equityinvestment before the merger plus the book value of the newly paid consideration for the shares acquired on the merger date shall beadjusted for the share premium. If the share premium is insufficient to offset, it shall be offset against retained earnings.

For long-term equity investments in subsidiaries formed by mergers of enterprises not under the same control, the initial investmentcost of the long-term equity investment shall be determined based on the merger cost determined on the purchase date. If it is possibleto exercise control over an investee that is not under the same control due to additional investment or other reasons, the initial investmentcost shall be the sum of the book value of the equity investment originally held and the cost of the additional investment.

(2) Long term equity investments acquired through means other than corporate mergers

Long term equity investments acquired through cash payment shall have the actual purchase price paid as the initial investment cost.

Long term equity investments obtained through the issuance of equity securities shall have the fair value of the issued equity securitiesas the initial investment cost.

Subsequent measurement and profit and loss recognition methods

(1) Long term equity investments accounted for using the cost method

The long-term equity investment of a company in a subsidiary is accounted for using the cost method, unless the investment meets thecondition of being held for sale. The company recognizes current investment income based on the cash dividends or profits declaredbut not yet distributed by the investee, except for the actual payment of the investment price or consideration at the time of acquisition.

(2) Long term equity investments accounted for using the equity method

Long term equity investments in joint ventures and associates are accounted for using the equity method. If the initial investment costis greater than the difference in the fair value share of the identifiable net assets of the investee that should be enjoyed at the time ofinvestment, the initial investment cost of the long-term equity investment shall not be adjusted; The difference between the initialinvestment cost and the fair value share of the identifiable net assets of the investee that should be enjoyed at the time of investmentshall be recognized in the current period's profit and loss, and the cost of long-term equity investment shall be adjusted accordingly.

The company recognizes investment income and other comprehensive income separately based on the share of net profit or loss andother comprehensive income realized by the invested entity that should be enjoyed or shared, and adjusts the book value of long-termequity investments; Calculate the portion that should be enjoyed based on the profits or cash dividends declared by the invested entity,and correspondingly reduce the book value of long-term equity investments; For other changes in owner's equity of the invested entityother than net profit or loss, other comprehensive income, and profit distribution (referred to as "other changes in owner's equity"),adjust the book value of long-term equity investments and include them in owner's equity.

When recognizing the share of net profit or loss, other comprehensive income, and other changes in owner's equity that should beenjoyed by the investee, the fair value of the investee's identifiable net assets at the time of acquisition of the investment shall be usedas the basis, and the net profit and other comprehensive income of the investee shall be adjusted in accordance with the company'saccounting policies and accounting periods before recognition.

Unrealized internal transaction gains and losses between the company and its affiliated or joint ventures shall be calculated based onthe proportion attributable to the company, offset, and recognized as investment income on this basis, except for assets invested or soldthat constitute business. Unrealized internal transaction losses incurred with the invested entity, which belong to asset impairmentlosses, shall be fully recognized.

The net losses incurred by the company in joint ventures or associated enterprises, except for the obligation to bear additional losses,shall be limited to the reduction of the book value of long-term equity investments and other long-term equity that essentially constitutenet investments in joint ventures or associated enterprises to zero. If a joint venture or associated enterprise realizes net profits in thefuture, the company shall restore the recognition of the profit sharing amount after offsetting the unrecognized loss sharing amountwith the profit sharing amount.

(3) Disposal of long-term equity investments

The difference between the book value and the actual acquisition price of long-term equity investments shall be recognized in thecurrent period's profit and loss.

For long-term equity investments that are partially disposed of and accounted for using the equity method, if the remaining equity isstill accounted for using the equity method, other comprehensive income recognized using the original equity method shall be carriedforward on the same basis as the direct disposal of related assets or liabilities by the investee in proportion, and changes in other owner'sequity shall be carried forward to the current period's profit and loss in proportion.

If the joint control or significant influence over the investee is lost due to the disposal of equity investments or other reasons, othercomprehensive income recognized by the equity method for the original equity investment shall be accounted for on the same basis asthe direct disposal of related assets or liabilities by the investee when the equity method is terminated, and all other changes in owner'sequity shall be transferred to the current period's profit and loss when the equity method is terminated.

If the control over the investee is lost due to the disposal of some equity investments or other reasons, and the remaining equity canexercise joint control or significant influence over the investee when preparing individual financial statements, it shall be accountedfor using the equity method, and the remaining equity shall be adjusted as if it were accounted for using the equity method from thetime of acquisition. Other comprehensive income recognized before obtaining control of the investee shall be carried forwardproportionally on the same basis as the direct disposal of relevant assets or liabilities by the investee, and other changes in owner'sequity recognized by using the equity method shall be carried forward to the current period's profit and loss in proportion; If theremaining equity cannot exercise joint control or significant influence over the investee, it shall be recognized as a financial asset, andthe difference between its fair value and book value on the date of loss of control shall be recognized in the current period's profit andloss. All other comprehensive income and other changes in owner's equity recognized before obtaining control of the investee shall becarried forward.

If the disposal of equity investment in a subsidiary through multiple transactions until the loss of control is considered a package deal,each transaction shall be accounted for as a disposal of equity investment in the subsidiary and the loss of control; The differencebetween the disposal price and the book value of the long-term equity investment corresponding to the disposed equity before losingcontrol is recognized as other comprehensive income in individual financial statements, and then transferred to the current period'sprofit and loss upon losing control. For transactions that are not part of a package deal, accounting treatment shall be applied separatelyfor each transaction.

13. Investment property

Investment real estate refers to real estate held for the purpose of earning rent or capital appreciation, or both, including leased landuse rights, land use rights held and prepared for transfer after appreciation, and leased buildings (including buildings built or developedfor leasing after completion of self construction or development activities, as well as buildings under construction or development thatwill be rented out in the future).

Subsequent expenses related to investment real estate are included in the cost of investment real estate when the related economicbenefits are likely to flow in and their costs can be reliably measured; Otherwise, it will be recorded in the current period's profit andloss when it occurs.

Our company adopts the cost model for measuring existing investment properties. For investment properties measured under the costmodel - rental buildings, the same depreciation policy as the company's fixed assets is adopted, and the amortization policy for rentalland use rights is implemented in the same manner as intangible assets.

14. Fixed assets

Recognition and initial measurement of fixed assets

Fixed assets refer to tangible assets held for the production of goods, provision of services, rental or business management, with auseful life exceeding one accounting year. Fixed assets are recognized when they meet the following conditions simultaneously:

(1) The economic benefits related to the fixed asset are likely to flow into the enterprise;

(2) The cost of the fixed asset can be reliably measured.

Fixed assets are initially measured at cost (taking into account the impact of expected disposal costs).Subsequent expenses related to fixed assets are included in the cost of fixed assets when the economic benefits associated with themare likely to flow in and their costs can be reliably measured; Terminate the recognition of the book value of the replaced parts; All

other subsequent expenses are recognized in the current period's profit or loss at the time of occurrence.

Depreciation method

Depreciation of fixed assets is calculated using the straight-line method, and the depreciation rate is determined based on the fixedasset category, expected useful life, and expected net residual value rate. For fixed assets for which impairment provisions have beenmade, the depreciation amount shall be determined in future periods based on the book value after deducting the impairment provisionsand the remaining useful life. If the service life of each component of fixed assets is different or they provide economic benefits to theenterprise in different ways, different depreciation rates or depreciation methods should be selected and depreciation should be accruedseparately.

The depreciation methods, depreciation periods, residual value rates, and annual depreciation rates for various types of fixed assets areas follows:

Category	Deprecation period	Residual rate (%)	Yearly deprecation rate (%)
Buildings	20 to 35 years	3%	2.77-4.85%
Machinery (Note)	5 to 20 years	3%	4.85-19.40%
Vehicles	4 to 10 years	3%	9.70-24.25%
Others	3 to 21 years	3%	4.62-32.33%
Note: the molds in machinery should be depreciated in units-of-production method.

Disposal of fixed assets

When fixed assets are disposed of or expected to generate no economic benefits through use or disposal, the recognition of such fixedassets shall be terminated. The disposal income from the sale, transfer, scrapping or damage of fixed assets, after deducting their bookvalue and related taxes, shall be included in the current period's profit and loss.

15. Construction in progress

Construction in progress is measured based on the actual cost incurred. The actual costs include construction costs, installation costs,borrowing costs that meet capitalization criteria, and other necessary expenses incurred to bring the construction in progress to itsintended usable state. When the construction in progress reaches the predetermined usable state, it is transferred to fixed assets anddepreciation is accrued from the following month.

16. Borrowing costs

Recognition principle for capitalization of borrowing costs

The borrowing costs incurred by the company, which can be directly attributed to the acquisition, construction or production of assetsthat meet the capitalization criteria, shall be capitalized and included in the relevant asset costs; Other borrowing costs are recognizedas expenses based on their amount incurred and recorded in the current period's profit and loss.

Assets eligible for capitalization refer to fixed assets, investment real estate, inventories and other assets that require a considerableperiod of time for acquisition and construction or production activities to reach their intended serviceable or marketable status.

During the capitalization period of borrowing costs

The capitalization period refers to the period from the start of capitalization of borrowing costs to the end of capitalization, excludingthe period when capitalization of borrowing costs is suspended.

The capitalization of borrowing costs begins when the following conditions are met simultaneously:

(1) Asset expenditures have already occurred, including expenses incurred in the form of cash payments, transfer of non cash assets,or assumption of interest bearing debts for the purchase, construction, or production of assets that meet capitalization criteria;

(2) The borrowing cost has already been incurred;

(3) The necessary purchasing, construction, or production activities to bring the assets to their intended usable or saleable state havealready begun.

When the assets that meet the capitalization criteria for purchase, construction, or production reach the predetermined usable or saleablestate, the capitalization of borrowing costs shall cease.

During the suspension of capitalization period

If assets that meet the capitalization criteria experience abnormal interruptions during the acquisition, construction, or productionprocess, and the interruption lasts for more than 3 consecutive months, the capitalization of borrowing costs shall be suspended; If theinterruption is necessary for the acquisition, construction or production of assets that meet the capitalization conditions to reach thepredetermined usable or saleable state, the borrowing costs will continue to be capitalized. The borrowing costs incurred during theinterruption period are recognized as current profit or loss, and continue to be capitalized until the acquisition or production activitiesof the asset resume.

Calculation method for capitalization rate and capitalization amount of borrowing costs

For specialized loans borrowed for the purchase, construction, or production of assets that meet the capitalization criteria, thecapitalization amount of the borrowing costs shall be determined by subtracting the interest income obtained from the unused borrowingfunds deposited in the bank or the investment income obtained from temporary investments from the actual borrowing costs incurredin the current period.

For general borrowings used for the purchase, construction, or production of assets that meet the capitalization criteria, the amount ofborrowing costs that should be capitalized for general borrowings is calculated by multiplying the weighted average of assetexpenditures exceeding the special borrowing portion by the capitalization rate of the general borrowings used. The capitalization rateis determined based on the weighted average actual interest rate of general borrowings.

During the capitalization period, the exchange difference between the principal and interest of foreign currency borrowings shall becapitalized and included in the cost of assets eligible for capitalization. The exchange differences arising from the principal and interestof foreign currency borrowings other than those specifically borrowed in foreign currencies are recognized in the current period's profitand loss.

17. Intangible assets

Valuation method of intangible assets

(1) When the company acquires intangible assets, they are initially measured at cost;

The cost of purchasing intangible assets includes the purchase price, related taxes and fees, and other expenses directly attributable toachieving the intended use of the asset.

(2) Subsequent measurement

Analyze and determine the useful life of intangible assets when acquiring them.

For intangible assets with limited useful life, they should be amortized within the period that brings economic benefits to the enterprise;If it is impossible to foresee the period in which intangible assets will bring economic benefits to the enterprise, they shall be regardedas intangible assets with an uncertain useful life and shall not be amortized.

Estimation of the useful life of intangible assets with limited useful life

Item	Expected service life	Amortization method
Land use rights	43 to 50 years	Straight-line method
Software usage rights	2 years	Straight-line method
Trademark usage rights	10 years	Straight-line method
Non patented technology	5 to 11 years	Straight-line method
Patent technology	10 years	Straight-line method

Specific criteria for dividing research and development stages

The expenses for internal research and development projects within the company are divided into research stage expenses anddevelopment stage expenses.

Research stage: The stage of original planned investigations and research activities aimed at acquiring and understanding new scientificor technological knowledge.

Development stage: The stage in which research results or other knowledge are applied to a plan or design to produce new orsubstantially improved materials, devices, products, and other activities before commercial production or use.

Specific conditions for capitalizing expenditures during the development phase

The expenses incurred during the research phase are recognized in the current period's profit and loss. Expenditures during thedevelopment phase that meet the following conditions are recognized as intangible assets. Expenditures during the development phasethat do not meet the following conditions are recognized in the current period's profit and loss:

(1) Complete the intangible asset to make it technically feasible for use or sale;

(2) Having the intention to complete the intangible asset and use or sell it;

(3) The ways in which intangible assets generate economic benefits include being able to prove the existence of a market for theproducts produced using the intangible assets or the existence of a market for the intangible assets themselves. If the intangible assetswill be used internally, their usefulness can be proven;

(4) Having sufficient technical, financial, and other resources to support the development of the intangible asset, and having the abilityto use or sell the intangible asset;

(5) The expenses attributable to the development stage of the intangible asset can be reliably measured.

If it is impossible to distinguish between research stage expenses and development stage expenses, all R&D expenses incurred will beincluded in the current period's profit and loss.

18. Long-term assets impairment

Long term equity investments, investment properties measured using the cost model, fixed assets, construction in progress, right of useassets, intangible assets with limited useful lives, and other long-term assets that show signs of impairment on the balance sheet dateshall be subject to impairment testing. If the impairment test results indicate that the recoverable amount of an asset is lower than itsbook value, an impairment provision shall be made based on the difference and included in the impairment loss. The recoverableamount is the higher of the net amount of the fair value of the asset minus disposal expenses and the present value of the expectedfuture cash flows of the asset. The provision for impairment of assets is calculated and recognized based on individual assets. If it isdifficult to estimate the recoverable amount of an individual asset, the recoverable amount of the asset group to which the asset belongsshall be determined. An asset group is the smallest combination of assets that can independently generate cash inflows.

For goodwill formed by business mergers, intangible assets with uncertain useful lives, and intangible assets that have not yet reacheda usable state, regardless of whether there are signs of impairment, impairment tests should be conducted at least at the end of eachfiscal year.

Our company conducts impairment tests on goodwill, and the book value of goodwill formed by business combinations is allocated torelevant asset groups in a reasonable manner from the date of purchase; If it is difficult to allocate to the relevant asset group, allocateit to the relevant asset group combination. The relevant asset group or combination of asset groups refers to the asset group orcombination of asset groups that can benefit from the synergistic effects of corporate mergers.

When conducting impairment tests on relevant asset groups or combinations of asset groups that include goodwill, if there are signs ofimpairment in the asset groups or combinations of asset groups related to goodwill, impairment tests should be conducted on the assetgroups or combinations of asset groups that do not include goodwill first, the recoverable amount should be calculated, and comparedwith the relevant book value to confirm the corresponding impairment loss. Then, impairment tests are conducted on asset groups orcombinations of asset groups that contain goodwill, comparing their book value with their recoverable amount. If the recoverableamount is lower than the book value, the impairment loss amount is first offset against the book value of goodwill allocated to the asset

group or combination of asset groups. Then, based on the proportion of the book value of assets other than goodwill in the asset groupor combination of asset groups, the book value of other assets is offset proportionally.

Once the impairment loss of the above-mentioned assets is recognized, it shall not be reversed in future accounting periods..

19. Long-term deferred expenses

Long term deferred expenses refer to various expenses that have already occurred but should be borne by the current and future periodswith an amortization period of more than one year.

20. Contract liabilities

Our company lists contract assets or contract liabilities in the balance sheet based on the relationship between fulfilling performanceobligations and customer payments. The obligation of our company to transfer goods or provide services to customers for considerationreceived or receivable is listed as a contractual liability. The contract assets and contract liabilities under the same contract are presentedon a net basis.

21. Employee benefits

Accounting treatment methods for short-term compensation

During the accounting period when employees provide services to the company, the actual short-term compensation incurred isrecognized as a liability and included in the current period's profit or loss or related asset costs.

The social insurance premiums and housing provident fund paid by our company for employees, as well as the union funds andemployee education funds extracted according to regulations, shall be calculated and determined based on the prescribed provisionbasis and provision ratio during the accounting period when employees provide services to our company.The employee welfare expenses incurred by our company are recognized in the current period's profit or loss or related asset costsbased on the actual amount incurred. Non monetary benefits are measured at fair value.

Accounting treatment method for post employment benefits

(1) Establish a withdrawal plan

Our company pays basic pension insurance and unemployment insurance for employees in accordance with relevant regulations of thelocal government. During the accounting period when employees provide services to our company, the payable amount is calculatedbased on the local prescribed payment base and proportion, recognized as a liability, and included in the current profit and loss orrelated asset costs. In addition, our company also participates in enterprise annuity plans approved by relevant national departments.Our company contributes a certain proportion of the total employee salary to the pension plan, and the corresponding expenses arerecorded in the current period's profit and loss or related asset costs.

(2) Establish a benefit plan

According to the formula determined by the expected cumulative welfare unit method, the welfare obligations arising from the definedbenefit plan are attributed to the period during which the employees provide services, and are recorded in the current period's profitand loss or related asset costs.

The deficit or surplus formed by subtracting the fair value of the defined benefit plan assets from the present value of the definedbenefit plan obligations is recognized as a net liability or net asset of the defined benefit plan. If there is a surplus in the defined benefitplan, the company measures the net assets of the defined benefit plan based on the lower of the surplus and asset limit of the definedbenefit plan.

All defined benefit plan obligations, including those expected to be paid within 12 months after the end of the annual report periodwhen employees provide services, are discounted according to the market yield of treasury bond or high-quality corporate bonds in theactive market that match the defined benefit plan obligation period and currency on the balance sheet date.

The service costs generated by the defined benefit plan and the net interest on the net liabilities or assets of the defined benefit plan arerecognized in the current period's profit or loss or related asset costs; The changes arising from the remeasurement of net liabilities ornet assets of the defined benefit plan shall be recognized in other comprehensive income and shall not be reversed to profit or loss insubsequent accounting periods. Upon termination of the original defined benefit plan, the portion originally recognized in other

comprehensive income shall be fully carried forward to undistributed profit within the scope of equity.

When settling a defined benefit plan, the difference between the present value of the defined benefit plan obligation and the settlementprice determined on the settlement date shall be used to recognize settlement gains or losses.

Accounting treatment methods for termination benefits

If the company provides termination benefits to employees, the employee compensation liability arising from termination benefits shallbe recognized and included in the current period's profit and loss at the earlier of the following two dates: when the company cannotunilaterally withdraw the termination benefits provided due to the termination of labor relations plan or layoff proposal; When thecompany confirms the costs or expenses related to the restructuring involving the payment of termination benefits.

22. Estimated liabilities

When obligations related to contingencies meet the following conditions simultaneously, the Company recognizes them as estimatedliabilities:

(1) This obligation is a current obligation undertaken by our company;

(2) Fulfilling this obligation is likely to result in the outflow of economic benefits from the company;

(3) The amount of this obligation can be reliably measured.

The estimated liabilities are initially measured based on the best estimate of the expenses required to fulfill the relevant currentobligations.

When determining the best estimate, comprehensive consideration should be given to factors such as risks, uncertainties, and timevalue of money related to contingencies. For those that have a significant impact on the time value of money, the best estimate isdetermined by discounting the relevant future cash outflows.

If all or part of the expenses required to settle the estimated liabilities are expected to be compensated by a third party, the compensationamount shall be separately recognized as an asset when it is basically certain that it can be received, and the recognized compensationamount shall not exceed the book value of the estimated liabilities.

Our company reviews the book value of estimated liabilities on the balance sheet date. If there is conclusive evidence that the bookvalue does not reflect the current best estimate, the book value shall be adjusted according to the current best estimate.

23. Share-based payments

Our company's share based payments are transactions in which equity instruments are granted or liabilities determined based on equityinstruments are assumed in order to obtain services from employees or other parties. Our company's share based payments are dividedinto equity settled share based payments and cash settled share based payments.

Equity settled share based payments and equity instruments

For equity settled share based payments exchanged for services provided by employees, the fair value of equity instruments granted toemployees shall be measured. For share based payment transactions that are immediately exercisable upon grant, the fair value of theequity instrument shall be recognized as relevant costs or expenses on the grant date, and the corresponding capital reserve shall beincreased. For share based payment transactions that require completion of services during the waiting period or meeting specifiedperformance conditions before exercise, on each balance sheet date during the waiting period, the Company will recognize the servicesobtained in the current period as relevant costs or expenses based on the best estimate of the number of feasible equity instruments andthe fair value on the grant date, and increase the capital reserve accordingly.

If the terms of equity settled share based payments are modified, at least the services obtained shall be confirmed as if the terms werenot modified. In addition, any modification that increases the fair value of the equity instruments granted, or any change that benefitsemployees on the modification date, shall be recognized as an increase in the acquisition of services.

During the waiting period, if the granted equity instruments are cancelled, the Company will treat the cancellation of the granted equityinstruments as accelerated exercise and immediately recognize the remaining amount that should be recognized during the waitingperiod in the current period's profit and loss, while recognizing capital reserves. However, if a new equity instrument is granted and itis determined on the date of grant that the new equity instrument is intended to replace the cancelled equity instrument, the replacementequity instrument granted shall be treated in the same manner as the modification of the terms and conditions of the original equity

instrument.

Cash settled share based payments and equity instruments

Cash settled share based payments shall be measured at the fair value of the liabilities assumed by the Company based on shares orother equity instruments. For share based payment transactions with immediate exercise of rights upon grant, the Company shallrecognize the relevant costs or expenses at the fair value of the liability assumed on the grant date, and correspondingly increase theliability. For share based payment transactions that require completion of services during the waiting period or fulfillment of specifiedperformance conditions before exercise, on each balance sheet date during the waiting period, the Company will recognize the servicesobtained in the current period as relevant costs or expenses based on the best estimate of the feasible option situation and the fair valueof the liability assumed by the Company, and correspondingly recognize them as liabilities. On each balance sheet date and settlementdate prior to the settlement of the relevant liabilities, the fair value of the liabilities shall be remeasured and any changes shall berecognized in the current period's profit or loss.

Our company has modified the terms and conditions of the cash settled share based payment agreement to become an equity settledshare based payment. On the date of modification (whether occurring during or after the waiting period), our company will measurethe equity settled share based payment at the fair value of the equity instrument granted on the day of modification, and recognize theservices obtained as capital reserve. At the same time, the recognized liabilities of the cash settled share based payment on themodification date will be terminated, and the difference between the two will be recognized in the current period's profit and loss. Ifthe waiting period is extended or shortened due to modifications, our company will account for it based on the modified waiting period.

24. Revenue

Accounting policies adopted for revenue recognition and measurement

Our company has fulfilled its contractual obligations by recognizing revenue when the customer obtains control of the relevant goodsor services. Acquiring control over relevant goods or services refers to being able to dominate the use of such goods or services andobtain almost all economic benefits from them.

If the contract contains two or more performance obligations, the company shall allocate the transaction price to each individualperformance obligation on the commencement date of the contract based on the relative proportion of the individual selling prices ofthe promised goods or services for each individual performance obligation. Our company measures revenue based on the transactionprice allocated to each individual performance obligation.

The transaction price refers to the expected amount of consideration that the company is entitled to receive for transferring goods orservices to customers, excluding payments collected on behalf of third parties and expected refunds to customers. Our companydetermines the transaction price based on the terms of the contract and its past practices, taking into account factors such as variableconsideration, significant financing elements in the contract, non cash consideration, and payable customer consideration whendetermining the transaction price. The Company determines the transaction price including variable consideration based on an amountthat does not exceed the cumulative recognized income that is highly unlikely to experience a significant reversal at the time of therelevant uncertainty being eliminated. If there is a significant financing component in the contract, the company determines thetransaction price based on the assumed payable amount paid in cash by the customer upon obtaining control of the goods or services,and amortizes the difference between the transaction price and the contract consideration using the effective interest rate method duringthe contract period.

If one of the following conditions is met, it is considered to have fulfilled the performance obligation within a certain period of time;otherwise, it is considered to have fulfilled the performance obligation at a certain point in time:

The customer obtains and consumes the economic benefits brought by the company's performance at the same time as fulfilling thecontract.

Customers are able to control the goods under construction during the performance process of our company.

The goods produced by our company during the performance process have irreplaceable uses, and our company has the right to collectpayments for the completed performance portion throughout the entire contract period.

For performance obligations fulfilled during a certain period of time, our company recognizes revenue based on the progress ofperformance during that period, except for situations where the progress of performance cannot be reasonably determined. Ourcompany considers the nature of goods or services and uses output or input methods to determine the progress of performance. Whenthe progress of performance cannot be reasonably determined and the costs already incurred are expected to be compensated, ourcompany recognizes revenue based on the amount of costs already incurred until the progress of performance can be reasonablydetermined.

For performance obligations fulfilled at a certain point in time, the company recognizes revenue at the point when the customer obtainscontrol of the relevant goods or services. When determining whether the customer has obtained control of the goods or services, thecompany considers the following signs:

Our company has the right to receive payment for the goods or services at present, which means that the customer has a current paymentobligation for the goods or services.

Our company has transferred the legal ownership of the product to the customer, meaning that the customer already owns the legalownership of the product.

Our company has transferred the physical item to the customer, meaning that the customer has taken possession of the item.

The company has transferred the main risks and rewards of ownership of the product to the customer, meaning that the customer hasacquired the main risks and rewards of ownership of the product.

The customer has accepted the product or service, etc.

Our company determines whether we are the primary responsible party or agent when engaging in transactions based on whether wehave control over the goods or services before transferring them to customers. If our company is able to control the goods or servicesbefore transferring them to customers, we are the main responsible party and recognize revenue based on the total amount ofconsideration received or receivable; Otherwise, our company acts as an agent and recognizes revenue based on the expectedcommission or handling fee amount that we are entitled to receive.

Disclose specific revenue recognition and measurement methods by business type

Our company has fulfilled its contractual obligations by recognizing revenue when the customer obtains control of the relevant goodsor services. Acquiring control over related goods or services refers to being able to dominate the use of the goods or the provision ofthe services and obtain almost all economic benefits from them.

(1) Sales Contract for Goods

The sales contract between our company and customers usually includes performance obligations such as transferring goods. Ourcompany usually recognizes revenue at the time of fulfilling each individual performance obligation, taking into account the followingfactors: the current right to receive payment for the goods, the transfer of major risks and rewards of ownership of the goods, thetransfer of legal ownership of the goods, the transfer of physical assets of the goods, and the customer's acceptance of the goods.

(2) Provide service contract

The performance obligations that should be fulfilled in the service contract between our company and the customer, as the customerobtains and consumes the economic benefits brought by our company's performance at the same time as our company's performance,and our company has the right to collect payment for the accumulated performance portion completed so far during the entire contractperiod, our company will recognize it as a performance obligation fulfilled during a certain period of time and recognize the incomeaccording to the performance progress, except for situations where the performance progress cannot be reasonably determined. Ourcompany determines the performance schedule of providing services based on the completed or delivered products using the outputmethod. When the progress of performance cannot be reasonably determined and the costs already incurred by our company areexpected to be compensated, revenue shall be recognized based on the amount of costs already incurred until the progress ofperformance can be reasonably determined.

(3) Variable consideration

Some of our company's contracts with customers involve sales rebate arrangements, resulting in variable consideration. Our companydetermines the best estimate of variable consideration based on expected values or the most likely amount to occur, but the transactionprice that includes variable consideration does not exceed the amount that is highly unlikely to result in a significant reversal ofcumulative recognized revenue when the relevant uncertainty is eliminated.

(4) Warranty obligations

According to the contract agreement, legal provisions, etc., our company provides quality assurance for the products sold. For servicequality assurance that provides a separate service beyond the established standards to ensure the sale of goods to customers, ourcompany regards it as a single performance obligation, and allocates a portion of the transaction price to the service quality assurancebased on the relative proportion of the separate selling price of the goods and services provided, and recognizes revenue when thecustomer obtains control of the service. When evaluating whether quality assurance provides a separate service beyond ensuring thatthe products sold meet established standards to customers, the company considers factors such as whether the quality assurance is alegal requirement, the quality assurance period, and the nature of the tasks that the company promises to fulfill.

(5) Reward Points Program

Our company awards reward points to customers while selling goods or providing services, and customers can use these reward pointsto exchange for free or discounted goods or services. This reward points program provides customers with a significant right, whichthe company considers as a single performance obligation. Based on the relative proportion of the separate selling price of the goodsor services provided and the reward points, a portion of the transaction price is allocated to the reward points, and revenue is recognizedwhen customers gain control of the points redeemed goods or services or when the points become invalid.

(6) Main responsible person/agent

For our company's ability to lead third-party representatives to provide services to customers, we have the right to independentlydetermine the price of the traded goods or services. This means that our company can control the relevant goods before transferringthem to customers. Therefore, our company is the main responsible person and recognizes revenue based on the total amount ofconsideration received or receivable. Otherwise, as an agent, our company shall recognize revenue based on the expected amount ofcommission or handling fees that we are entitled to receive. This amount shall be determined by deducting the total amount ofconsideration received or receivable from the amount payable to other relevant parties, or by the established commission amount orproportion. Disclose accounting policies used for revenue recognition and measurement based on business type.

25. Contract Cost

Contract costs include contract performance costs and contract acquisition costs.

The costs incurred by our company in fulfilling contracts that do not fall within the scope of relevant standards and regulations such asinventory, fixed assets, or intangible assets shall be recognized as contract performance costs when the following conditions are met:

The cost is directly related to a current or expected contract to be obtained.

This cost increases the resources that our company will have to fulfill its contractual obligations in the future.

The cost is expected to be recovered.

The incremental costs incurred by our company to obtain contracts that are expected to be recovered are recognized as contractacquisition costs as an asset.

Assets related to contract costs are amortized on the same basis as the recognition of revenue from goods or services associated withthe asset; However, for contracts with an amortization period of less than one year, the company will include it in the current period'sprofit and loss when it occurs.

If the book value of assets related to contract costs is higher than the difference between the following two items, the Company shallmake an impairment provision for the excess and recognize it as an asset impairment loss:

(1) The remaining consideration expected to be obtained from the transfer of goods or services related to the asset;

(2) Estimate the cost that will be incurred for the transfer of the relevant goods or services.

If the factors that caused impairment in previous periods have changed, resulting in the difference being higher than the carrying amountof the asset, the Company shall reverse the impairment provision that has already been made and include it in the current period's profitand loss. However, the reversed carrying amount of the asset shall not exceed the carrying amount of the asset on the date of reversalassuming no impairment provision is made.

26. Government grants

Type

Government subsidies refer to monetary or non monetary assets obtained by our company from the government free of charge, whichare divided into asset related government subsidies and income related government subsidies.

Government subsidies related to assets refer to the government subsidies obtained by the company for the purpose of purchasing,constructing, or otherwise forming long-term assets. Government subsidies related to income refer to government subsidies other thanthose related to assets.

Confirm time point

Government subsidies are recognized when the company is able to meet the conditions attached and receive them.

accounting treatment

Our company adopts the net method to account for government subsidies.

Government subsidies related to assets are offset against the book value of related assets or recognized as deferred income. If recognizedas deferred income, it shall be recorded in the current period's profit and loss in a reasonable and systematic manner over the usefullife of the relevant assets.

Government subsidies related to revenue, used to compensate for future costs, expenses, or losses of the company, shall be recognizedas deferred income and included in the current period's profit or loss or offset against related costs, expenses, or losses during the periodin which the related costs, expenses, or losses are recognized; For compensation of related costs, expenses or losses incurred by thecompany, they shall be directly recorded in the current period's profit and loss or offset against related costs, expenses or losses.

The policy based preferential loan interest subsidies obtained by our company are classified into the following two situations andaccounted for separately:

(1) The finance department will allocate the interest subsidy funds to the lending bank. If the lending bank provides a loan to ourcompany at a policy preferential interest rate, our company will use the actual loan amount received as the entry value of the loan, andcalculate the relevant loan costs based on the loan principal and the policy preferential interest rate.

(2) If the finance department directly disburses the interest subsidy funds to our company, we will offset the corresponding interestsubsidy against the relevant borrowing costs.

27. Deferred tax assets/deferred tax liabilities

Income tax includes current income tax and deferred income tax. Except for income tax arising from business mergers and transactionsor events directly recognized in owner's equity (including other comprehensive income), the Company recognizes current income taxand deferred income tax in the current period's profit and loss.

Deferred income tax assets and deferred income tax liabilities are recognized based on the difference (temporary difference) betweenthe tax base of the assets and liabilities and their carrying amounts.

For the recognition of deferred tax assets for deductible temporary differences, the amount of taxable income that is likely to be obtainedin future periods to offset the deductible temporary differences shall be limited. For deductible losses and tax deductions that can becarried forward to future years, corresponding deferred income tax assets shall be recognized up to the future taxable income that islikely to be obtained to offset the deductible losses and tax deductions.

For temporary differences in taxable income, except in special circumstances, deferred income tax liabilities are recognized.

Special circumstances where deferred tax assets or deferred tax liabilities are not recognized include:

Initial recognition of goodwill;

Transactions or events that are neither a business merger nor affect accounting profits and taxable income (or deductible losses) at thetime of occurrence, and where the initially recognized assets and liabilities do not result in equal taxable temporary differences ordeductible temporary differences.

Deferred income tax liabilities shall be recognized for taxable temporary differences related to investments in subsidiaries, associates,and joint ventures, unless the Company is able to control the timing of the reversal of such temporary differences and it is probable thatthey will not reverse in the foreseeable future. Deferred income tax assets are recognized for deductible temporary differences relatedto investments in subsidiaries, associates, and joint ventures when the temporary differences are likely to reverse in the foreseeablefuture and taxable income is likely to be obtained in the future to offset the deductible temporary differences.

On the balance sheet date, deferred income tax assets and deferred income tax liabilities shall be measured at the applicable tax rateduring the expected period of recovery of related assets or settlement of related liabilities in accordance with tax laws.

On the balance sheet date, the Company reviews the carrying amount of deferred tax assets. If it is likely that sufficient taxable incomewill not be available in the future to offset the benefits of deferred tax assets, the carrying amount of deferred tax assets shall be reduced.When it is likely to obtain sufficient taxable income, the reduced amount shall be reversed.

When having the legal right to settle on a net basis and intending to settle on a net basis or acquire assets and settle liabilitiessimultaneously, the current income tax assets and current income tax liabilities are reported at the net amount after offsetting.

On the balance sheet date, deferred income tax assets and deferred income tax liabilities are presented at the net amount after offsettingwhen both of the following conditions are met:

The taxpayer has the legal right to settle current income tax assets and current income tax liabilities on a net basis;

Deferred income tax assets and deferred income tax liabilities are related to income tax levied by the same tax collection andmanagement department on the same taxpayer or on different taxpayers, but in the future, during each significant period of reversal ofdeferred income tax assets and liabilities, the taxpayers involved intend to settle the current income tax assets and liabilities on a netbasis or acquire assets and settle liabilities simultaneously.

28. Leases

Leasing refers to a contract in which the lessor transfers the right to use an asset to the lessee for consideration during a certain periodof time. On the commencement date of the contract, our company evaluates whether the contract is a lease or includes a lease. If oneparty in a contract relinquishes the right to control the use of one or more identified assets for a certain period of time in exchange forconsideration, then the contract is a lease or includes a lease.

If the contract includes multiple separate leases, the company will split the contract and account for each separate lease separately. Ifthe contract includes both lease and non lease parts, the lessee and lessor shall separate the lease and non lease parts.

As the lessee

(1) Right of Use Assets

On the commencement date of the lease term, the Company recognizes the right of use assets for leases other than short-term leasesand leases of low value assets. The right of use assets are initially measured at cost. The cost includes:

The initial measurement amount of lease liabilities;

If there is a lease incentive for the lease payment made on or before the start date of the lease term, the relevant amount of the leaseincentive already enjoyed shall be deducted;

The initial direct expenses incurred by our company;

The cost expected to be incurred by our company for dismantling and removing leased assets, restoring the location of leased assets,or restoring leased assets to the state agreed upon in the lease terms, but does not include costs incurred for producing inventory.

Our company will use the straight-line method to depreciate the right of use assets in the future. For leased assets that can be reasonablydetermined to acquire ownership upon expiration of the lease term, the Company shall depreciate the leased assets over their remaininguseful life; Otherwise, the leased asset shall be depreciated during the shorter of the lease term or the remaining useful life of the leasedasset.

(2) Lease liabilities

On the commencement date of the lease term, the Company recognizes lease liabilities for leases other than short-term leases and leasesof low value assets. Lease liabilities are initially measured at the present value of unpaid lease payments. The lease payment amountincludes:

Fixed payment amount (including substantial fixed payment amount), if there are lease incentives, deduct the relevant amount of leaseincentives;

Variable lease payments based on indices or ratios;

The estimated amount to be paid based on the residual value of the guarantee provided by the company;

The exercise price for purchasing the option, provided that the company reasonably determines that the option will be exercised;

The payment required to exercise the option to terminate the lease, provided that the lease term reflects that the company will exercisethe option to terminate the lease.

Our company uses the lease implicit interest rate as the discount rate, but if the lease implicit interest rate cannot be reasonablydetermined, we use our incremental borrowing rate as the discount rate.

Our company calculates the interest expenses of lease liabilities during each period of the lease term based on a fixed periodic interestrate, and includes them in the current period's profit and loss or related asset costs.

Variable lease payments that are not included in the measurement of lease liabilities are recognized in the current period's profit or lossor related asset costs when they actually occur.

After the commencement date of the lease term, if any of the following situations occur, the Company shall remeasure the lease liabilityand adjust the corresponding right of use asset. If the book value of the right of use asset has been reduced to zero, but the lease liabilitystill needs to be further reduced, the difference shall be recognized in the current period's profit and loss:

When the evaluation results of the purchase option, renewal option, or termination option change, or the actual exercise of theaforementioned options is inconsistent with the original evaluation results, the Company shall remeasure the lease liability based onthe present value calculated by the modified lease payment amount and the revised discount rate;

When there is a change in the actual fixed payment amount, a change in the expected payable amount of the guaranteed residual value,or a change in the index or ratio used to determine the lease payment amount, the Company remeasures the lease liability based on thepresent value calculated using the changed lease payment amount and the original discount rate. However, if the change in leasepayments is due to fluctuations in floating interest rates, the revised discount rate should be used to calculate the present value.

(3) Short term leasing and low value asset leasing

If the company chooses not to recognize right of use assets and lease liabilities for short-term leases and low value asset leases, therelevant lease payments will be recognized in the current period's profit or loss or related asset costs using the straight-line method foreach period during the lease term. Short term lease refers to a lease that starts on the lease term, has a lease term of no more than 12months, and does not include purchase options. Low value asset leasing refers to the leasing of a single leased asset with a lower valuewhen it is a brand new asset. If a company subleases or anticipates subleasing leased assets, the original lease does not belong to a lowvalue asset lease.

(4) Lease change

If there is a change in the lease and the following conditions are met simultaneously, the company will treat the lease change as aseparate lease for accounting purposes:

The lease change expands the lease scope by adding the right to use one or more leased assets;

The increased consideration is equivalent to the individual price of the expanded lease scope adjusted according to the contract situation.

If the lease change is not accounted for as a separate lease, on the effective date of the lease change, the company shall re allocate theconsideration of the contract after the change, re determine the lease term, and re measure the lease liability based on the present valuecalculated by the modified lease payment amount and the revised discount rate.

If the lease change leads to a reduction in the scope of the lease or a shortened lease term, the Company shall correspondingly adjustthe book value of the right of use assets and include the related gains or losses from partial or complete termination of the lease in thecurrent period's profit and loss. If other lease changes result in the remeasurement of lease liabilities, the Company shall adjust thecarrying amount of the right of use assets accordingly.

As the lessor

On the commencement date of the lease, our company divides the lease into financing lease and operating lease. Financial leasingrefers to a lease that, regardless of whether ownership is ultimately transferred or not, essentially transfers almost all risks and rewardsrelated to the ownership of the leased asset. Operating lease refers to leases other than financing leases. When our company acts as asublessor, we classify sublease based on the right of use assets generated from the original lease.

(1) Accounting treatment for operating leases

The lease receipts from operating leases are recognized as rental income using the straight-line method during each period of the leaseterm. The company will capitalize the initial direct expenses related to operating leases and allocate them to the current period's profitand loss on the same basis as rental income recognition during the lease term. Variable lease payments that are not included in leasereceipts are recognized in the current period's profit or loss when they actually occur. If there is a change in the operating lease, thecompany shall treat it as a new lease for accounting purposes from the effective date of the change, and the prepaid or receivable leasereceipts related to the lease before the change shall be regarded as the receipts of the new lease.

(2) Accounting treatment for financial leasing

On the commencement date of the lease, the Company recognizes the receivable financing lease payments and terminates therecognition of financing lease assets. When the company initially measures the receivable financing lease payments, the net leaseinvestment is recognized as the entry value of the receivable financing lease payments. The net amount of lease investment is the sumof the unguaranteed residual value and the present value of lease receipts not yet received at the lease commencement date, discountedat the lease implicit interest rate.

Our company calculates and recognizes interest income for each period of the lease term based on a fixed periodic interest rate. Thetermination recognition and impairment of financing lease receivables shall be accounted for in accordance with Note 8, FinancialInstruments.

Variable lease payments that are not included in the measurement of net lease investments are recognized in the current period's profitor loss when they actually occur.

If there is a change in the financing lease and the following conditions are met simultaneously, the company will treat the change as aseparate lease for accounting purposes:

The change expands the lease scope by adding the right to use one or more leased assets;

The increased consideration is equivalent to the individual price of the expanded lease scope adjusted according to the contract situation.

If the change of financing lease is not accounted for as a separate lease, the company will handle the changed lease in the followingsituations:

If the change takes effect on the lease commencement date, the lease will be classified as an operating lease. The company will treat itas a new lease from the effective date of the lease change and use the net lease investment before the effective date of the lease changeas the book value of the leased asset;

If the change takes effect on the lease commencement date, the lease will be classified as a finance lease, and our company will accountfor it in accordance with the policy of "8. Financial Instruments" regarding the modification or renegotiation of contracts.

Sale and leaseback transaction

The company evaluates and determines whether the asset transfer in the sale leaseback transaction constitutes a sale based on theprinciples described in Note 24, Revenue.

(1) As a tenant

The transfer of assets in a sale leaseback transaction is considered a sale, and the company, as the lessee, measures the right of useassets formed by the sale leaseback based on the portion of the original asset book value related to the right of use obtained from theleaseback, and only recognizes gains or losses related to the rights transferred to the lessor.If the transfer of assets in a sale leaseback transaction is not considered a sale, the company, as the lessee, continues to recognize thetransferred assets and also recognizes a financial liability equal to the transfer income. The accounting treatment of financial liabilitiesis detailed in Note 8, Financial Instruments.

(2) As a lessor

The asset transfer in the sale leaseback transaction belongs to sales, and the company acts as the lessor to account for the asset purchase,and according to the aforementioned policy of "the company acts as the lessor" to account for the asset leasing; The transfer of assetsin a sale leaseback transaction is not considered a sale, and the company, as the lessor, does not recognize the transferred assets, butrecognizes a financial asset equal to the transfer income. The accounting treatment of financial assets is detailed in Note 8, FinancialInstruments.

29. Methods for determining importance criteria and selection criteria

Item	Importance criteria

Important non wholly owned subsidiaries

Important non wholly owned subsidiaries

Subsidiary's net assets account for more than 5% of the company's consolidated net assets or net profit accounts for more than 10% of the company's consolidated net profit.

Important joint venture enterprises

Important joint venture enterprises

Investment gains and losses under the equity method of long-term equity investments account for more than 10% of the company's consolidated net profit.

Write off of important accountsreceivable

Write off of important accounts receivable

The single write off amount accounts for more than 5% of the total bad debt provision for various receivables or the amount is greater than 15 million yuan.

Significant reversal or recovery of baddebt provisions for accounts receivable

Significant reversal or recovery of bad debt provisions for accounts receivable

The amount of single recovery or reversal accounts for more than 5% of the total bad debt provision for various receivables or the amount is greater than 15 million yuan.

Important prepayments with an aging ofover 1 year

Important prepayments with an aging of over 1 year

The individual amount accounts for more than 5% of the total prepaid accounts or the amount is greater than 15 million yuan.

Important accounts payable with an agingof over 1 year or overdue

Important accounts payable with an aging of over 1 year or overdue

The individual amount accounts for more than 5% of the total accounts payable or exceeds 15 million yuan.

Important ongoing construction projects

Important ongoing construction projects

The final balance of the project is over 50 million yuan.

30. Significant accounting judgments and estimates

(1) Significant accounting policy changes

√ Applicable □ Not applicable

The Ministry of Finance released the "Compilation of Application Guidelines for Enterprise Accounting Standards 2024" in March2024, which stipulates that warranty fees should be included in operating costs. The main impacts of our company's implementation ofthis regulation are as follows:

The content and reasons for changes in accounting policies	Affected report items	Merge		Parent company
		Current Period	Prior Period	Current Period	Prior Period
According to the "Compilation of Application Guidelines for Enterprise Accounting Standards 2024", the company will classify quality assurance as operating costs.	Operating costs	1,198,507,902.94	788,037,030.18	607,136,813.52	724,716,121.58
	Selling expenses	-1,198,507,902.94	-788,037,030.18	-607,136,813.52	-724,716,121.58

(2) Changes in significant accounting estimates

□ Applicable √ Not applicable

(3) Starting from 2024, the first implementation of the new accounting standards will adjust the financial statements related to the itemsat the beginning of the year

□ Applicable √ Not applicable

VI. TAXES

1. Main taxes and tax rates

Categories of taxes	tax basis	tax rate (%)
Value added tax (“VAT”)	The output tax is calculated based on the sales of goods and taxable service income calculated according to tax laws. After deducting the input tax that can be deducted in the current period, the difference is the payable value-added tax.	6、7、9、13
Consumption tax	Calculated and paid based on taxable sales revenue.	1、3、5
City maintenance and construction tax	Calculated and paid based on the actual value-added tax and consumption tax paid.	5、7
Corporate income tax	Calculated and paid based on taxable income.	15-41
Educational surcharge	Calculated and paid based on the actual value-added tax and consumption tax paid.	3
Local educational surcharge	Calculated and paid based on the actual value-added tax and consumption tax paid.	2

2. Tax benefits

1. According to the relevant regulations of national high-tech recognition and relevant tax preferential policies, the followingsubsidiaries of our company have been recognized as high-tech enterprises and enjoy a preferential corporate income tax rate of 15%during the prescribed period: our company (November 2021 to November 2024), Hebei Changan Automobile Co., Ltd. (2023 to 2025),and Deep Blue Automotive Technology Co., Ltd. (2023 to 2025).

2. According to the Announcement on Continuing the Enterprise Income Tax Policy for Western Development jointly issued by theMinistry of Finance, the State Administration of Taxation, and the National Development and Reform Commission (AnnouncementNo. 23 of 2020 of the Ministry of Finance, the State Administration of Taxation, and the National Development and ReformCommission), from January 1, 2021 to December 31, 2030, encouraged industrial enterprises located in the western region will besubject to a reduced corporate income tax rate of 15%. Our subsidiaries, Chongqing Changan Automobile International Sales ServiceCo., Ltd., Chongqing Changan Special Purpose Vehicle Co., Ltd., Chongqing Changan Automobile Customer Service Co., Ltd.,Chongqing Lingyao Automobile Co., Ltd., Chongqing Chemeimei Technology Co., Ltd., Chongqing Changan Automobile SoftwareTechnology Co., Ltd., and Chongqing Changan Technology Co., Ltd., meet the above requirements and are subject to corporate incometax at a rate of 15%.

3. According to the Announcement of the Ministry of Finance and the State Administration of Taxation on Further Supporting theDevelopment of Small and Micro Enterprises and Individual Industrial and Commercial Households and Related Tax Policies(Announcement No. 12 of 2023 of the Ministry of Finance and the State Administration of Taxation), the taxable income of small andmicro profit enterprises shall be reduced by 25%, and the enterprise income tax shall be paid at a rate of 20%. Our subsidiaries,Chongqing Xingzhi Technology Co., Ltd., Guangzhou Chang'an New Energy Vehicle Sales and Service Co., Ltd., Nanjing Chang'anNew Energy Vehicle Sales and Service Co., Ltd., Xiamen Chang'an New Energy Vehicle Sales and Service Co., Ltd., ShenlanAutomobile Nanjing Research Institute Co., Ltd., and Shenlan Automobile Marketing Service (Shenzhen) Co., Ltd., meet the prescribedconditions and enjoy tax preferential policies for small and micro profit enterprises.

4. According to the Announcement of the Ministry of Finance and the State Administration of Taxation on the Policy of Value addedTax Deduction for Advanced Manufacturing Enterprises (Announcement No. 43 of 2023 of the Ministry of Finance and the StateAdministration of Taxation), from January 1, 2023 to December 31, 2027, advanced manufacturing enterprises are allowed to deductan additional 5% of the deductible input tax for the current period to offset the payable value-added tax. Our company and its subsidiaryHebei Changan Automobile Co., Ltd. meet the prescribed conditions in 2024 and are eligible for the additional deduction policy.VII. Notes to the consolidated financial statements

1. Cash

In RMB Yuan

Item	Ending balance	Beginning balance
Cash	4,998.00	35,257.05
Cash at bank	34,854,105,125.40	29,493,854,273.50
Other cash	1,145,129,617.91	461,131,970.31
Cash at financial company	34,939,896,329.93	34,916,021,247.02
Total	70,939,136,071.24	64,871,042,747.88
Among them: total amount of funds stored overseas	3,482,035,375.40	1,797,894,384.53

Note: The monetary funds deposited by our company with affiliated financial companies are detailed in Note 14, Section 5

2. Transactional financial assets

In RMB Yuan

Item	Ending balance	Beginning balance
Financial assets measured at fair value with changes recognized in current profit or loss
Among them: Equity instrument investment	152,668,417.66	160,744,733.27
Others		6,774,614.02
Total	152,668,417.66	167,519,347.29

3. Notes receivable

(1) Classification of notes receivable

In RMB Yuan

Item	Ending balance	Beginning balance
Bank acceptance bill	24,414,869,176.41	28,588,687,367.75
Commercial acceptance bill	9,580,659,286.74	9,069,703,846.26
Total	33,995,528,463.15	37,658,391,214.01

(2) Disclosure of accounts receivable classified by bad debt provision method

In RMB Yuan

Item	Ending balance
	Book balance		Bad debt reserves		Book value
	Amount	Ratio (%)	Amount	Ratio (%)
Provision for bad debts based on the combination of credit risk characteristics	33,995,528,463.15	100.00			33,995,528,463.15
Total	33,995,528,463.15	100.00			33,995,528,463.15

Item	Beginning balance
	Book balance		Bad debt reserves		Book value
	Amount	Ratio (%)	Amount	Ratio (%)
Provision for bad debts based on the combination of credit risk characteristics	37,658,391,214.01	100.00			37,658,391,214.01

Total

37,658,391,214.01

100.00

37,658,391,214.01

Provision for bad debts based on the combination of credit risk characteristics：

In RMB Yuan

Item	Ending balance
	Book balance	Bad debt reserves	Provision ratio (%)
Bank acceptance bill	24,414,869,176.41
Commercial acceptance bill	9,580,659,286.74
Total	33,995,528,463.15

(3)Notes receivable pledged

In RMB Yuan

Item	Pledged amount
Bank acceptance bill	5,897,473,036.76
Commercial acceptance bill
Total	5,897,473,036.76

(4)Endorsed or discounted but unexpired notes receivable as at the end of reporting period

In RMB Yuan

Item	Amount derecognized at the end of the period	Amount not derecognized at the end of the period
Bank acceptance bill	1,904,671,080.90
Commercial acceptance bill
Total	1,904,671,080.90

4. Accounts receivable

(1)Aging analysis of the accounts receivable

In RMB Yuan

Aging	Ending balance	Beginning balance
Within 1 year	3,003,576,409.95	2,455,130,606.98
1 to 2 years	43,807,168.03	9,231,834.37
2 to 3 years	179,086.17	436,370.13
Over 3 years	190,347,427.76	196,256,136.33
Total	3,237,910,091.91	2,661,054,947.81
Less: Provision	248,678,986.50	249,258,528.74
Total	2,989,231,105.41	2,411,796,419.07

(2) Accounts receivable are classified and disclosed according to the bad debt provision method

In RMB Yuan

Category	Ending balance
	Balance		Provision		Book value
	Amount	Ratio (%)	Amount	Ratio (%)
Individually analyzed for provision	1,717,957,980.28	53.06	139,066,311.49	8.09	1,578,891,668.79
Accounts receivable analyzed as groups for provision	1,519,952,111.63	46.94	109,612,675.01	7.21	1,410,339,436.62
Total	3,237,910,091.91	100.00	248,678,986.50		2,989,231,105.41

Category	Beginning balance
	Balance		Provision		Book value
	Amount	Ratio (%)	Amount	Ratio (%)
Individually analyzed for provision	1,155,752,310.55	43.43	139,066,311.49	12.03	1,016,685,999.06
Accounts receivable analyzed as groups for provision	1,505,302,637.26	56.57	110,192,217.25	7.32	1,395,110,420.01
Total	2,661,054,947.81	100.00	249,258,528.74		2,411,796,419.07

Provision for bad debts based on credit risk characteristics:

In RMB Yuan

Aging	Ending balance
	Estimated face value for default	Expected credit loss rate (%)	Expected credit loss for the entire duration
Within 1 year	1,380,421,113.86	0.07	954,519.49
1 to 2 years	11,080,482.89	1.67	185,470.95
2 to 3 years
Over 3 years	128,450,514.88	84.45	108,472,684.57
Total	1,519,952,111.63		109,612,675.01

(3) Provision for bad debts accrued, recovered or reversed in this period

In RMB Yuan

Category	Beginning balance	Current period change amount		Ending balance
		Provision	Withdrawal or reversal
Individually analyzed for provision	139,066,311.49			139,066,311.49
Accounts receivable analyzed as groups for provision	110,192,217.25	10,487,313.94	11,066,856.18	109,612,675.01
Total	249,258,528.74	10,487,313.94	11,066,856.18	248,678,986.50

(4) Accounts receivable and contract assets of the top five ending balances collected by debtor

As of June 30, 2024, the top five accounts receivable had a total balance of 1438032537.33 yuan, accounting for 44.41% of the totalending balance of accounts receivable.

5. Contract assets

(1) Contract asset situation

In RMB Yuan

Item	Ending balance			Beginning balance
	Book balance	Provision for impairment	Book value	Book balance	Provision for impairment	Book value
Contract assets	1,492,931,270.28	670,236,570.38	822,694,699.90	2,104,221,673.68	661,344,707.38	1,442,876,966.30
Total	1,492,931,270.28	670,236,570.38	822,694,699.90	2,104,221,673.68	661,344,707.38	1,442,876,966.30

(2) Disclosure of Contract Assets Classified by Bad Debt Provision Method

In RMB Yuan

Item	Ending balance
	Book balance		Bad debt reserves		Book value
	Amount	Ratio (%)	Amount	Ratio (%)
Individually analyzed for provision	1,492,931,270.28	100.00	670,236,570.38	44.89	822,694,699.90
Total	1,492,931,270.28	100.00	670,236,570.38		822,694,699.90

Item	Beginning balance
	Book balance		Bad debt reserves		Book value
	Amount	Ratio (%)	Amount	Ratio (%)
Individually analyzed for provision	2,104,221,673.68	100.00	661,344,707.38	31.43	1,442,876,966.30
Total	2,104,221,673.68	100.00	661,344,707.38		1,442,876,966.30

Provision for bad debts based on individual items：

In RMB Yuan

Item	Ending balance
	Book balance	Bad debt reserves	Provision ratio (%)
Contract assets	1,492,931,270.28	670,236,570.38	44.89
Total	1,492,931,270.28	670,236,570.38

(3) Provision for impairment of contract assets in this period

In RMB Yuan

Item	Beginning balance	Provision for this period	Withdrawal or reversal in this period	Ending balance
Contract assets	661,344,707.38	17,506,800.00	8,614,937.00	670,236,570.38
Total	661,344,707.38	17,506,800.00	8,614,937.00	670,236,570.38

6. Other receivables

In RMB Yuan

Item	Ending balance	Beginning balance
Dividend receivable	22,469,320.00
Other receivables	432,539,377.40	894,268,431.82
Total	455,008,697.40	894,268,431.82

(1)Dividend receivable

In RMB Yuan

Project (or investee)	Ending balance	Beginning balance
Chongqing Chang'an Kuayue Vehicle Co., Ltd	3,430,000.00
Zhongfa Lian Investment Co., Ltd	19,039,320.00
Total	22,469,320.00

(2)Other receivables

1) Aging analysis of other receivables

In RMB Yuan

Aging	Ending balance	Beginning balance
Within 1 year	366,712,847.70	832,441,463.15
1 to 2 years	11,024,391.63	7,857,497.78
2 to 3 years	3,555,131.73	50,952,225.85
Over 3 years	58,836,843.69	10,686,669.55
Total	440,129,214.75	901,937,856.33
Less: Provision	7,589,837.35	7,669,424.51
Total	432,539,377.40	894,268,431.82

2) Classified disclosure based on bad debt provision method

In RMB Yuan

Item	Beginning balance
	Book balance		Bad debt reserves		Book value
	Amount	Ratio (%)	Amount	Ratio (%)
Individually analyzed for provision	233,971,501.63	53.16	7,256,494.25	3.10	226,715,007.38
Accounts receivable analyzed as groups for provision	206,157,713.12	46.84	333,343.10	0.16	205,824,370.02
Total	440,129,214.75	100.00	7,589,837.35		432,539,377.40

Item	Beginning balance
	Book balance		Bad debt reserves		Book value
	Amount	Ratio (%)	Amount	Ratio (%)
Individually analyzed for provision	720,811,020.18	79.92	7,256,494.25	1.01	713,554,525.93
Accounts receivable analyzed as groups for provision	181,126,836.15	20.08	412,930.26	0.23	180,713,905.89
Total	901,937,856.33	100.00	7,669,424.51		894,268,431.82

3) Provision for bad debts

In RMB Yuan

Bad debt reserves	Phase 1	Phase 2	Phase 3	Total
	Expected credit loss for the next 12 months	Expected credit loss for the entire duration (no credit impairment has occurred)	Expected credit loss for the entire duration (credit impairment already occurred)
Year end balance of the previous year	412,930.26		7,256,494.25	7,669,424.51
Last year's year-end balance in the current period
——Entering the second stage
——Entering the third stage
——Return to the

second stage
——Return to the first stage
Provision for this period	15,545.96			15,545.96
Current period reversal	195,133.12			195,133.12
This period's resale
Verification in this period
Other changes	-100,000.00			-100,000.00
Total	333,343.10	-	7,256,494.25	7,589,837.35

The changes in the book balance of other receivables are as follows:

In RMB Yuan

Bad debt reserves	Phase 1	Phase 2	Phase 3	Total
	Expected credit loss for the next 12 months	Expected credit loss for the entire duration (no credit impairment has occurred)	Expected credit loss for the entire duration (credit impairment already occurred)
Year end balance of the previous year	894,681,362.08		7,256,494.25	901,937,856.33
Last year's year-end balance in the current period
——Entering the second stage
——Entering the third stage
——Return to the second stage
——Return to the first stage
Newly added in this period	3,020,554,950.02			3,020,554,950.02
Termination confirmation for this period	3,482,363,591.60			3,482,363,591.60
Other changes
Total	432,872,720.50		7,256,494.25	440,129,214.75

4) Provision for bad debts accrued, recovered or reversed in this period

In RMB Yuan

Category	Beginning balance	Change amount in the current period			Ending balance
		Provision	Other additions	Write-off
Individually analyzed for provision	7,256,494.25				7,256,494.25
Accounts receivable analyzed as groups for provision	412,930.26	15,545.96	100,000.00	195,133.12	333,343.10

Total

7,669,424.51

15,545.96

100,000.00

195,133.12

7,589,837.35

5) Other receivables are classified by nature

In RMB Yuan

Nature	Ending balance	Beginning balance
Subsidies receivable	103,070,000.00	586,119,720.60
Prepaid equity investment funds	93,753,846.00	95,100,000.00
Reserve fund	14,290,880.49	74,416,322.72
Deposit and earnest money	13,955,872.42	15,176,743.46
Others	215,058,615.84	131,125,069.55
Total	440,129,214.75	901,937,856.33

6) Other receivables with the top five ending balances collected by debtor

As of June 30, 2024, the top five ending balances of other receivables amounted to RMB 268,755,223.16, accounting for 61.06%of the total ending balance of other receivables.

7. Prepayments

(1) Prepayments listed by aging

In RMB Yuan

Aging	Ending balance		Beginning balance
	Amount	Ratio (%)	Amount	Ratio (%)
Within 1 year	580,422,457.73	99.63	281,522,043.69	97.86
1 to 2 years	1,698,426.16	0.29	1,248,976.74	0.43
2 to 3 years	161,358.87	0.03	128,513.87	0.04
Over 3 years	298,916.65	0.05	4,811,476.32	1.67
Total	582,581,159.41	100.00	287,711,010.62	100.00

(2) Prepayments of the top five ending balances collected by prepayment object

On June 30, 2024, the top five prepaid accounts amounted to 351,100,301.86 yuan, accounting for 60.27% of the total prepaid accounts

8. Inventory

(1) Classification of inventory

In RMB Yuan

Item	Ending balance			Beginning balance
	Balance	Provision for inventory depreciation/provision for impairment of contract performance costs	Net value	Balance	Provision for inventory depreciation/provision for impairment of contract performance costs	Net value
Commodity stock	12,382,359,309.93	167,078,148.59	12,215,281,161.34	11,890,690,577.52	202,418,376.89	11,688,272,200.63
Work in progress	1,198,938,919.87	68,095,900.34	1,130,843,019.53	1,291,990,811.53	63,870,083.00	1,228,120,728.53
Raw materials	678,385,842.33	320,486,654.84	357,899,187.49	748,776,600.96	378,040,520.19	370,736,080.77

Work in transit	60,000,715.74		60,000,715.74	81,586,613.21		81,586,613.21
Consigned processing material	5,067,865.00		5,067,865.00	27,617,777.37		27,617,777.37
Ohers	23,770,549.84		23,770,549.84	69,514,296.42		69,514,296.42
Total	14,348,523,202.71	555,660,703.77	13,792,862,498.94	14,110,176,677.01	644,328,980.08	13,465,847,696.93

(2) Provision for inventory depreciation/provision for impairment of contract performance costs

In RMB Yuan

Item	Beginning balance	Current provision amount	Current reversal or cancellation amount	Ending balance
Raw materials	378,040,520.19	19,020,475.09	76,574,340.44	320,486,654.84
Work in progress	63,870,083.00	23,917,940.57	19,692,123.23	68,095,900.34
Commodity stock	202,418,376.89	94,627,939.52	129,968,167.82	167,078,148.59
Total	644,328,980.08	137,566,355.18	226,234,631.49	555,660,703.77

Our company makes provisions for inventory impairment based on whether the cost exceeds the net realizable value. Net realizablevalue refers to the estimated selling price of inventory in daily activities, minus the estimated costs to be incurred until completion,estimated sales expenses, and related taxes and fees. The reason for the reversal or cancellation of inventory impairment provisions inthis year is that the net realizable value of inventory for which inventory impairment provisions were made in previous years hasincreased or sales have been realized in the current year.

9. Other current assets

In RMB Yuan

Item	Ending balance	Beginning balance
Accrual input tax	1,410,064,211.95	1,393,763,691.38
Prepaid taxes	820,109,176.93	336,795,620.72
Fixed deposits and others	4,561,179.72	8,004,894,049.22
Total	2,234,734,568.60	9,735,453,361.32

10. Investment in other equity instruments

In RMB Yuan

Item	Ending balance	Beginning balance	Gains recognized in other comprehensive income for the current period	Losses included in other comprehensive income for this period	Accumulated gains recognized in other comprehensive income at the end of this period	Accumulated losses recognized in other comprehensive income at the end of this period	Dividend income recognized in this period	Reason for being designated as fair value through other comprehensive income
Zhong Fa Lian Investment Co., Ltd.	14,801,858.72	14,801,858.72				6,198,141.28	19,039,320.00	Unlisted equity instruments
China South Industry Group Finance Co., Ltd.	335,540,000.00	335,540,000.00			178,519,200.00			Unlisted equity instruments
Guoqi (Beijing) Intelligent Network Association Automotive Research Institute Co., Ltd.	2,958,223.99	2,958,223.99				41,776.01		Unlisted equity instruments
Guoqi Automobile Power Cell Research Co., Ltd.	39,590,000.00	39,590,000.00				410,000.00		Unlisted equity instruments
China South Industry Group Financial Leasing Co., Ltd.	28,300,000.00	28,300,000.00				2,252,000.00		Unlisted equity instruments
Guoqi (Beijing) Intelligent Connected Vehicle Research Institute Co., Ltd	83,000,000.00	83,000,000.00			33,000,000.00			Unlisted equity instruments
Total	504,190,082.71	504,190,082.71			211,519,200.00	8,901,917.29	19,039,320.00

11. Long-term equity investments

In RMB Yuan

Investee	Beginning balance	Changes in this period					Ending balance	Provision ending balance
		Addition	Investment income under equity method	Other comprehensive income adjustments	Other equity changes	Declare the distribution of cash dividends or profits
I. Joint Venture
Nanchang Jiangling Holding Co., Ltd.	2,106,206,520.20		181,840,492.72	2.89			2,288,047,015.81
Changan Mazda Automobile Co., Ltd.	878,239,492.13		(102,147,632.24)				776,091,859.89
Changan Mazda Engine Co., Ltd.	805,005,706.40		1,138,226.54				806,143,932.94
Changan Ford Automobile Co., Ltd.			618,761,192.06				618,761,192.06
Subtotal	3,789,451,718.73		699,592,279.08	2.89			4,489,044,000.70
II. Associates
Changan Automobile Financing Co.,Ltd	3,041,392,973.86		201,365,024.22				3,242,757,998.08
Nanjing Leading Equity Investment Management Co., Ltd. (Limited Partnership)	2,645,793,326.69		(7,834,395.32)				2,637,958,931.37
Zhongqi Chuangzhi Technology Co., Ltd.	448,515,220.54		(8,958,355.14)				439,556,865.40
Chongqing Changan Kuayue Automobile Co., Ltd.	228,765,251.64		2,148,873.70			(3,430,000.00)	227,484,125.34
Chongqing Changxin Zhiqi Private Equity Investment Fund Partnership (Limited Partnership)	204,518,396.38		8,011,212.22				212,529,608.60
Shidai Changan Power Battery Co., Ltd	342,065,472.72		(95,914,775.21)				246,150,697.51
Chongqing Changxian Intelligent Technology Co., Ltd	105,033,367.07		649,948.26				105,683,315.33
Chongqing Changan Innovation Private Equity Investment Fund Partnership Enterprise (Limited Partnership)	70,104,473.99		308.14				70,104,782.13

Investee	Beginning balance	Changes in this period					Ending balance	Provision ending balance
		Addition	Investment income under equity method	Other comprehensive income adjustments	Other equity changes	Declare the distribution of cash dividends or profits
Changan Ford New Energy Vehicle Technology Co., Ltd	67,713,664.93		(17,113,068.64)				50,600,596.29
Anhe Chongqing Dingfeng Automobile Contract Private Equity Investment Fund	61,692,352.41		370,450.00				62,062,802.41
Hunan Guoxin Semiconductor Technology Co., Ltd.	28,502,232.09		161,981.13				28,664,213.22
Nanjing Leading Equity Investment Partnership	1,107,400.12		(6,888.58)				1,100,511.54
Nanjing Chelai Travel Technology Co., Ltd.	584,824.65		(251,725.81)				333,098.84
Avatr Technology (Chongqing) Co., Ltd	2,295,710,259.79		(590,923,775.44)	(184,358.40)	3,221,300.64		1,707,823,426.59
Chongqing Changan Kuayue Automobile Sales Co., Ltd.		69,600,000.00	(578,713.15)				69,021,286.85
Chongqing Changan Kuayue Vehicle Marketing Co., Ltd			1,018,842.33				1,018,842.33
Hangzhou Chelizi Intelligent Technology Co., Ltd.	1,111,663.20		(22,553.03)				1,089,110.17
Anhe (Chongqing) Equity Investment Fund Management Co., Ltd.	5,970,815.86		(260,289.22)				5,710,526.64
Master Changan Automobile Co., Ltd.	43,377,199.66		13,827,379.83	(5,967,137.61)			51,237,441.88
Time FAW Power Battery Co., Ltd.	276,006,999.87		51,497,228.69				327,504,228.56
Chongqing Wutong Chelian Technology Co., Ltd.	79,781,303.57		1,774,491.91				81,555,795.48
Western Car Network (Chongqing) Co., Ltd.	5,183,910.52		(112,511.72)				5,071,398.80
Chongqing Anda Semiconductor Co., Ltd	45,009,157.18		89,737.94				45,098,895.12

Investee	Beginning balance	Changes in this period					Ending balance	Provision ending balance
		Addition	Investment income under equity method	Other comprehensive income adjustments	Other equity changes	Declare the distribution of cash dividends or profits
Subtotal	9,997,940,266.74	69,600,000.00	(441,061,572.89)	(6,151,496.01)	3,221,300.64	(3,430,000.00)	9,620,118,498.48
Total	13,787,391,985.47	69,600,000.00	258,530,706.19	(6,151,493.12)	3,221,300.64	(3,430,000.00)	14,109,162,499.18

12. Investment property

(1) Investment real estate using cost measurement model

Cost Model

In RMB Yuan

Item	Buildings	Total
I. Original cost
1. Opening balance	10,050,100.00	10,050,100.00
2. Increase in current period
3. Decrease in current period
4. Ending balance	10,050,100.00	10,050,100.00
II. Accumulated depreciation and amortization
1. Opening balance	3,854,096.52	3,854,096.52
2. Increase in current period	113,355.78	113,355.78
(1) Provision or amortization	113,355.78	113,355.78
3. Decrease in current period
4. Ending balance	3,967,452.30	3,967,452.30
III. Impairment provision
1. Opening balance
2. Increase in current period
3. Decrease in current period
4. Ending balance
IV. Net Value
1. Ending	6,082,647.70	6,082,647.70
2. Beginning	6,196,003.48	6,196,003.48

13. Fixed assets

In RMB Yuan

Item	Ending balance	Beginning balance
Fixed assets	19,515,251,831.25	19,994,084,908.14
Total	19,515,251,831.25	19,994,084,908.14

(1) Details of fixed assets

In RMB Yuan

Item	Buildings	Machinery	Vehicles	Other Equipment	Total
1. Original book value:
Opening balance	10,402,849,881.70	28,090,256,805.16	1,669,155,485.79	10,398,235,511.86	50,560,497,684.51
purchase	6,947,419.08	30,268,855.34	342,511.77	9,559,380.24	47,118,166.43
Transfer of ongoing construction projects	59,811,701.10	797,829,206.62	4,125,707.20	283,210,721.10	1,144,977,336.02
Disposal or scrapping	1,102,004.53	587,091,101.53	461,381,244.23	61,225,592.30	1,110,799,942.59

Decrease in exchange rate fluctuations		848,949.59		11,264,599.66	12,113,549.25
Closing balance	10,468,506,997.35	28,330,414,816.00	1,212,242,460.53	10,618,515,421.24	50,629,679,695.12
2. Accumulated depreciation
Opening balance	3,252,045,432.73	17,904,036,679.47	770,934,918.45	5,827,737,532.10	27,754,754,562.75
Provision	173,016,577.99	876,874,872.98	124,174,688.28	291,953,340.10	1,466,019,479.35
Disposal or scrapping	340,561.98	543,273,493.12	237,736,912.80	55,900,526.51	837,251,494.41
Decrease in exchange rate fluctuations	1,120,727.04	724,512.21			1,845,239.25
Closing balance	3,423,600,721.70	18,236,913,547.12	657,372,693.93	6,063,790,345.69	28,381,677,308.44
3. Provision for impairment
Opening balance	63,168,825.18	2,319,193,144.50	33,357,247.40	395,938,996.54	2,811,658,213.62
Increased amount in this period
Disposal or scrapping	514,180.92	42,797,195.17	30,456,280.26	5,140,001.84	78,907,658.19
Closing balance	62,654,644.26	2,276,395,949.33	2,900,967.14	390,798,994.70	2,732,750,555.43
4. Book value
Closing book value	6,982,251,631.39	7,817,105,319.55	551,968,799.46	4,163,926,080.85	19,515,251,831.25
Initial book value	7,087,635,623.79	7,867,026,981.19	864,863,319.94	4,174,558,983.22	19,994,084,908.14

(2) Fixed assets that are temporarily unused

On June 30, 2024, fixed assets with a book value of RMB 148,776,035.09 (December 31, 2023: RMB 187074047.38) were temporarilyidle due to product upgrades and other reasons.

(3) The fixed assets which are rented out under operating leases

In RMB Yuan

Item	Ending
Buildings	113,748,399.06
Machinery
Vehicles	415,340,505.59
Other Equipment
Total	529,088,904.65

(4) Fixed assets with incomplete property rights certificates

As of June 30, 2024, our company does not have any fixed assets without property ownership certificates.

14. Construction in progress

(1) Details of construction in progress

In RMB Yuan

Item	Ending balance			Beginning balance
	Balance	Provision	Carrying amount	Balance	Provision	Carrying amount
Engineering construction project	1,097,713,624.86		1,097,713,624.86	750,986,351.54		750,986,351.54
Production line construction and technological renovation projects	678,432,023.02		678,432,023.02	626,139,410.60		626,139,410.60
Engine Technical Renovation Project	104,880,824.53	20,921,684.06	83,959,140.47	204,550,269.22	20,921,684.06	183,628,585.16
Environmental relocation project	17,147,783.12		17,147,783.12	59,586,596.48		59,586,596.48
Other projects	426,165,420.83	8,841,139.67	417,324,281.16	302,845,555.72	8,841,139.67	294,004,416.05
Total	2,324,339,676.36	29,762,823.73	2,294,576,852.63	1,944,108,183.56	29,762,823.73	1,914,345,359.83

(2) Movements of significant construction in progress

In RMB Yuan

Item	(In 1,000 RMB)	Beginning balance	Addition	Transferred to fixed assets	Ending balance	The project investments’ proportion of budget (%)	Progress of construction (%)	Source of funds
Engineering construction project	831,204.00	750,986,351.54	352,473,744.75	5,746,471.43	1,097,713,624.86	53.47	53.47	Self raised
Production line construction and technological renovation projects	683,360.77	626,139,410.60	632,925,898.19	580,633,285.77	678,432,023.02	55.78	55.78	Self raised and additional issuance
Engine Technical Renovation Project	44,276.00	204,550,269.22	80,167,707.44	179,837,152.13	104,880,824.53	69.81	69.81	Self raised
Environmental relocation project	182,476.00	59,586,596.48	39,251,976.96	81,690,790.32	17,147,783.12	78.08	78.08	Self raised
Other projects		302,845,555.72	420,389,501.48	297,069,636.37	426,165,420.83			Self raised and additional issuance
Total		1,944,108,183.56	1,525,208,828.82	1,144,977,336.02	2,324,339,676.36

(3) The movement of impairment for construction in progress is as follows:

In RMB Yuan

Item	Beginning balance	Addition	Deduction	Ending balance	Reason
Engine Technical Renovation Project	20,921,684.06			20,921,684.06
Other projects	8,841,139.67			8,841,139.67
Total	29,762,823.73			29,762,823.73	--

15. Right-of-use assets

In RMB Yuan

Item	Buildings	Total
1. Original book value
Opening balance	338,339,110.19	338,339,110.19
Increased amount in this period	68,030,394.59	68,030,394.59
Decreased amount in this period	36,048,483.65	36,048,483.65
Closing balance	370,321,021.13	370,321,021.13
2. Accumulated depreciation
Opening balance	128,858,434.15	128,858,434.15
Increased amount in this period	46,388,885.07	46,388,885.07
Decreased amount in this period	22,625,153.07	22,625,153.07
Closing balance	152,622,166.15	152,622,166.15
3. Provision for impairment
Opening balance
Increased amount in this period
Decreased amount in this period
Closing balance
4. Book value
Closing book value	217,698,854.98	217,698,854.98
Initial book value	209,480,676.04	209,480,676.04

16. Intangible assets

In RMB Yuan

Item	Land use rights	Patent	Non-patent technology	Software use rights	Trademark use rights	Total
1. Original book value
Opening balance	2,337,635,635.46	85,581,514.70	18,444,521,672.27	882,238,600.76	2,624,669,183.78	24,374,646,606.97
Purchase			1,537,434.26	13,452,389.23		14,989,823.49
Internal research and development			486,094,425.23			486,094,425.23
Exchange rate fluctuations					2,489.73	2,489.73

increase
Management				103,488.02		103,488.02
Closing balance	2,337,635,635.46	85,581,514.70	18,932,153,531.76	895,587,501.97	2,624,671,673.51	24,875,629,857.40
2. Accumulated amortization
Opening balance	513,880,306.26	15,685,994.98	7,107,014,737.05	762,030,686.88	432,976,863.44	8,831,588,588.61
Provision	21,736,268.40	4,282,675.74	1,062,805,960.74	20,805,182.88	119,544,243.72	1,229,174,331.48
Decrease in exchange rate fluctuations				1,810.06		1,810.06
Management				103,488.02		103,488.02
Closing balance	535,616,574.66	19,968,670.72	8,169,820,697.79	782,730,571.68	552,521,107.16	10,060,657,622.01
3. Provision for impairment
Opening balance			453,960,028.77	23,617,923.17	19,916,416.63	497,494,368.57
Increased amount in this period
Decreased amount in this period
Closing balance			453,960,028.77	23,617,923.17	19,916,416.63	497,494,368.57
4. Book value
Closing book value	1,802,019,060.80	65,612,843.98	10,308,372,805.20	89,239,007.12	2,052,234,149.72	14,317,477,866.82
Initial book value	1,823,755,329.20	69,895,519.72	10,883,546,906.45	96,589,990.71	2,171,775,903.71	15,045,563,649.79

On June 30, 2024, the proportion of intangible assets formed through internal research and development to the year-end book value ofintangible assets was 72.00% (December 31, 2023: 72.34%)

As of June 30, 2024, there were no outstanding land use rights certificates (as of December 31, 2023: none)

17. Goodwill

(1) Original book value of goodwill

In RMB Yuan

Item	Beginning balance	Addition	Deduction	Ending balance
Hebei Changan Automobile Co., Ltd	9,804,394.00			9,804,394.00
Nanjing Changan Automobile Co., Ltd	73,465,335.00			73,465,335.00
Deepal Automobile Technology Co., Ltd	1,800,926,049.16			1,800,926,049.16
Total	1,884,195,778.16			1,884,195,778.16

(2) Provision for goodwill

In RMB Yuan

Item	Beginning balance	Addition	Deduction	Ending balance
Nanjing Changan Automobile Co., Ltd.	73,465,335.00			73,465,335.00
Total	73,465,335.00			73,465,335.00

18. Long-term deferred expenses

In RMB Yuan

Item	Beginning balance	Addition	Deduction	Ending balance
Extended insurance premium	21,709,036.17		1,579,704.48	20,129,331.69
other	2,453,183.89		1,396,571.17	1,056,612.72
Total	24,162,220.06		2,976,275.65	21,185,944.41

19. Deferred tax assets and liabilities

(1) Deferred income tax assets that are not offset:

In RMB Yuan

Item	Ending balance		Beginning balance
	Deductible temporary differences	Deferred tax assets	Deductible temporary differences	Deferred tax assets
Assets provision	3,275,891,936.80	498,479,912.80	3,326,010,289.07	505,667,423.10
Accrued expenses and contingent liabilities	9,883,630,392.44	1,498,837,537.38	9,745,432,595.40	1,478,634,793.00
Unpaid tech development expense and advertisement expense	151,580,931.46	22,737,139.72	108,882,829.52	16,332,424.43
Deferred income	3,017,975,989.26	495,126,557.40	3,143,730,047.41	516,280,314.00
Unpaid salary and bonus and others	6,132,578,466.67	919,886,770.00	5,069,078,308.78	762,158,961.20
Total	22,461,657,716.63	3,435,067,917.30	21,393,134,070.18	3,279,073,915.73

(2) Deferred income tax liabilities that are not offset:

In RMB Yuan

Item	Ending balance		Beginning balance
	Taxable temporary differences	Deferred tax liabilities	Taxable temporary differences	Deferred tax liabilities
Changes in fair value of trading financial assets	256,285,702.59	38,442,855.38	271,136,632.22	40,670,494.83
Fair value adjustment of business combination not under common control	8,615,125,913.67	1,292,268,887.05	9,077,843,422.40	1,361,676,513.36
Long-term equity investment	1,045,313,517.71	156,797,027.65	1,053,139,619.28	157,970,942.89
Other	820,249,030.60	123,037,354.59	234,662,947.29	36,576,889.00
Total	10,736,974,164.57	1,610,546,124.67	10,636,782,621.19	1,596,894,840.08

(3) Deferred tax assets or liabilities presented as net amount after offsetting

In RMB Yuan

Item

Deferred tax assets and liabilities offset at the end of the period

Closing balance of deferred income tax assets or liabilities after

Deferred tax assets and liabilities offset amount at the beginning of the

Opening balance of deferred income tax assets or liabilities after

		offsetting	period	offsetting
Deferred tax assets	24,987,590.16	3,410,080,327.14	30,819,858.08	3,248,254,057.65
Deferred tax liabilities	24,987,590.16	1,585,558,534.51	30,819,858.08	1,566,074,982.00

(4) Details of unrecognized deferred tax assets

In RMB Yuan

Item	Ending balance	Beginning balance
The deductible temporary difference	840,705,561.08	1,764,330,466.02
The deductible tax loss	9,649,464,641.06	10,207,352,860.58
Total	10,490,170,202.14	11,971,683,326.60

(5) Maturity period for unrecognized deductible tax losses:

In RMB Yuan

Year	Ending balance	Beginning balance	Notes
2024	943,008,433.37	1,026,714,782.44
2025	1,414,119,466.19	1,484,227,541.07
2026	2,597,065,395.18	2,622,637,735.99
2027	2,195,399,362.36	2,162,063,388.55
2028 and beyond	2,499,871,983.96	2,911,709,412.53
Total	9,649,464,641.06	10,207,352,860.58

20. Other non-current assets

In RMB Yuan

Item	Ending balance			Beginning balance
	Book balance	Provision for impairment	Book value	Book balance	Provision for impairment	Book value
Prepaid project funds	454,756,000.00		454,756,000.00	450,000,000.00		450,000,000.00
Fixed deposits and others	1,400,216,231.98		1,400,216,231.98
Total	1,854,972,231.98		1,854,972,231.98	450,000,000.00		450,000,000.00

21 Assets with restricted ownership or use rights

In RMB Yuan

Item	Ending balance
	Book balance	Book value	limited type	Restricted situation
Monetary funds	1,389,380,301.41	1,389,380,301.41	Margin and other	Margin and other

Accounts receivable	5,897,473,036.76	5,897,473,036.76	Bill Pledge	Bill Pledge
Total	7,286,853,338.17	7,286,853,338.17

Item	Beginning balance
	Book balance	Book value	limited type	Restricted situation
Monetary funds	945,084,846.77	945,084,846.77	Margin and other	Margin and other
Accounts receivable	7,309,419,058.87	7,309,419,058.87	Bill Pledge	Bill Pledge
Total	8,254,503,905.64	8,254,503,905.64

22. Short-term loans

In RMB Yuan

Item	Ending balance	Beginning balance
Guaranteed loan	54,056,333.40	30,039,416.74
Total	54,056,333.40	30,039,416.74

Note: As of June 30, 2024, the annual interest rate for the aforementioned loan is 3.30% -4.50% (December 31, 2023: 3.90% -4.50%).On June 30, 2024, there were no overdue short-term loans (December 31, 2023: none).

23. Trading financial liabilities

In RMB Yuan

Item	Ending balance	Beginning balance
Trading financial liabilities	12,941,513.71
Total	12,941,513.71

24. Notes payable

In RMB Yuan

Item	Ending balance	Beginning balance
Commercial acceptance bill	2,500,012,398.15	2,943,672,886.95
Bank acceptance bill	38,311,530,205.59	34,512,997,041.12
Total	40,811,542,603.74	37,456,669,928.07

25. Accounts payable

In RMB Yuan

Item	Ending balance	Beginning balance
Accounts payable	34,274,539,923.58	38,289,947,321.45
Total	34,274,539,923.58	38,289,947,321.45

As of June 30, 2024, there are no significant accounts payable with an aging of over one year.

26. Other payables

In RMB Yuan

Item	Ending balance	Beginning balance
Other payables	5,307,800,744.02	5,880,882,512.97
Total	5,307,800,744.02	5,880,882,512.97

(1) Other payables

1） Listed by nature of payment

In RMB Yuan

Item	Ending balance	Beginning balance
Purchase and construction of fixed assets, intangible assets, and project guarantee deposits	1,329,509,916.07	1,550,681,604.04
Customer and supplier guarantee deposits	816,298,813.46	874,043,416.71
Advertising expenses	688,245,554.39	648,229,494.43
Storage and shipping fees	491,482,593.10	488,072,948.00
Repair and processing fees	302,513,491.29	295,480,247.86
Treasury stock repurchase obligation	228,624,172.79	382,277,095.96
National subsidy pre allocation	183,954,150.00	138,398,550.00
Advance payment for land and factory disposal	150,000,000.00	150,000,000.00
Others	1,117,172,052.92	1,353,699,155.97
Total	5,307,800,744.02	5,880,882,512.97

27. Advance receipts

In RMB Yuan

Item	Ending balance	Beginning balance
Unearned rent		686,755.00
Total		686,755.00

28. Contract liabilities

In RMB Yuan

Item	Ending balance	Beginning balance
Advance payment	4,827,700,376.12	6,780,177,101.71
Advance service payment	1,168,892,322.30	1,143,615,751.06
Total	5,996,592,698.42	7,923,792,852.77

29. Payroll payable

(1) Payroll payable

In RMB Yuan

Item	Beginning balance	Addition	Deduction	Ending balance
Short term salary benefits	2,645,581,324.21	5,731,387,936.46	4,925,702,505.45	3,451,266,755.22
Defined contribution plans	87,255,844.66	521,203,732.21	508,061,843.24	100,397,733.63
Early retirement benefits	17,824,168.39	35,467,165.49	34,250,136.77	19,041,197.11
Total	2,750,661,337.26	6,288,058,834.16	5,468,014,485.46	3,570,705,685.96

(2) Short term salary benefits：

In RMB Yuan

Item	Beginning balance	Addition	Deduction	Ending balance
1. Salary, bonus, allowance and subsidy	2,170,965,985.99	4,701,463,267.89	3,881,089,785.77	2,991,339,468.11
2. Employee benefit	20,125,393.92	132,886,506.91	150,210,174.88	2,801,725.95
3. Social insurance	32,862,900.03	388,916,286.58	374,207,840.72	47,571,345.89
Medical insurance	20,183,997.44	357,138,155.14	341,031,841.88	36,290,310.70
Industrial injury insurance	10,754,834.26	31,778,131.44	31,268,084.82	11,264,880.88
Maternity insurance	1,924,068.33		1,907,914.02	16,154.31
Supplementary medical insurance	22,920,911.36	302,942,993.87	306,402,301.58	19,461,603.65
4. Housing accumulation fund	398,706,132.91	205,178,881.21	213,792,402.50	390,092,611.62
education fund	2,645,581,324.21	5,731,387,936.46	4,925,702,505.45	3,451,266,755.22
Total	2,170,965,985.99	4,701,463,267.89	3,881,089,785.77	2,991,339,468.11

(3) Defined contribution plans：

In RMB Yuan

Item	Beginning balance	Addition	Deduction	Ending balance
1. Basic retirement security	77,888,132.00	505,111,458.01	492,453,461.57	90,546,128.44
2. Unemployment insurance	9,367,712.66	16,092,274.20	15,608,381.67	9,851,605.19
Total	87,255,844.66	521,203,732.21	508,061,843.24	100,397,733.63

30. Taxes payable

In RMB Yuan

Item	Ending balance	Beginning balance
Value-added tax	390,107,324.07	366,815,941.84
Consumption tax	314,588,062.10	307,949,880.80
Corporate income tax	77,516,433.13	1,136,075,075.53
City maintenance and construction tax	37,916,535.31	51,726,243.42
Others	45,662,833.64	66,156,765.79
Total	865,791,188.25	1,928,723,907.38

31. Non-current liability within 1 year

In RMB Yuan

Item	Ending balance	Beginning balance
Lease liabilities due within one year	83,760,356.87	74,887,042.88
Long term loans due within one year	40,000,000.00	4,000,000.00
Defined benefit plans that expire within one year		1,190,000.00
Total	123,760,356.87	80,077,042.88

32. Other current liabilities

In RMB Yuan

Item	Ending balance	Beginning balance
Accrued commercial discount payable	5,714,368,347.23	5,277,859,952.56
Accrued transportation fee	830,318,163.53	428,540,512.92
Accrued market development expense	701,497,074.01	1,229,871,896.85
Accrued technology royalty	503,093,753.27	712,779,170.48
Accrued labor service fee	88,008,794.01	52,021,714.94
Accrued negative points for fuel consumption	47,548,100.11	76,611,049.98
Others	1,273,710,568.38	1,120,252,102.19
Total	9,158,544,800.54	8,897,936,399.92

33. Long-term Loan

In RMB Yuan

Item	Ending balance	Beginning balance
Credit loan	36,000,000.00	72,000,000.00
Total	36,000,000.00	72,000,000.00

Note: As of June 30, 2024, the interest rate for the aforementioned loan is 1.00% (December 31, 2023: 1.00%).

34. Bonds payable

(1) Bonds payable

In RMB Yuan

Item	Ending balance	Beginning balance
Corporate bonds	999,656,603.76	999,607,547.16
Total	999,656,603.76	999,607,547.16

(2) Changes in payable bonds

In RMB Yuan

BondName

Par value

Coupon rate (%)

Release date

Term

Issuance amount

Opening balance

Interest accrued at face value

Excess discount amortization

Beginning balance

Default situation

TechnologyInnovationBond

1,000,000,000.00

3.00

2022.12

5 years

1,000,000,000.00

999,607,547.16

15,166,666.66

49,056.60

999,656,603.76

No

Total

1,000,000,000.00

999,607,547.16

15,166,666.66

49,056.60

999,656,603.76

35. Lease liabilities

In RMB Yuan

Item	Ending balance	Beginning balance
Lease liabilities	208,473,707.47	209,141,440.95
Less：Reclassify non current liabilities due within one year	83,760,356.87	74,887,042.88
Total	124,713,350.60	134,254,398.07

36. Long-term payables

In RMB Yuan

Item	Ending balance	Beginning balance
Long-term payables	816,282,263.75	804,264,787.97
Special payables	141,609,973.68	148,181,330.60
Total	957,892,237.43	952,446,118.57

(1) Long-term payables

In RMB Yuan

Item	Ending balance	Beginning balance
Accounts payable for construction projects	816,282,263.75	804,264,787.97
Total	816,282,263.75	804,264,787.97

(2) Special payables

In RMB Yuan

Item	Beginning balance	Addition	Deduction	Ending balance
Intelligent manufacturing project	79,118,517.26	5,958,812.00	10,220,100.85	74,857,228.41
Lightweight design of automobile structure	6,769,952.63		2,513,619.83	4,256,332.80
Others	62,292,860.71	24,037,064.59	23,833,512.83	62,496,412.47
Total	148,181,330.60	29,995,876.59	36,567,233.51	141,609,973.68

37. Long-term payroll payable

In RMB Yuan

Item	Ending balance	Beginning balance
1. Post employment benefits - net liabilities for defined benefit plans	23,661,616.49	26,880,000.00
2. Dismissal benefits	3,534,000.00	3,534,000.00
Total	27,195,616.49	30,414,000.00

38. Contingent liabilities

In RMB Yuan

Item	Ending balance	Beginning balance
Warranty	6,707,961,419.04	5,976,561,810.09
Contingent liabilities of contract performance	296,312,561.75	300,479,606.70
Total	7,004,273,980.79	6,277,041,416.79

39. Deferred income

In RMB Yuan

Liability	Beginning balance	Addition	Deduction	Ending balance
Related to assets:	610,407,171.08		104,408,720.03	505,998,451.05
Production and construction subsidies	610,407,171.08		104,408,720.03	505,998,451.05
Related to gains:	108,433,372.44	115,308,720.03	53,188,720.03	170,553,372.44
R&D technology subsidies	77,651,164.12			77,651,164.12
Other government subsidies	30,782,208.32	115,308,720.03	53,188,720.03	92,902,208.32
Total	718,840,543.52	115,308,720.03	157,597,440.06	676,551,823.49

40. Other non-current liabilities

In RMB Yuan

Item	Ending balance	Beginning balance
Advance service payment	1,719,954,719.90	1,497,773,818.69
Net other non-current liabilities	1,719,954,719.90	1,497,773,818.69

41. Share capital

In RMB Yuan

	Beginning balance	Changes（+，-）					Ending balance
		Additional issued	Stock dividend	Provident fund transfer	Others	Subtotal
Total shares	9,919,323,000.00						9,919,323,000.00

42. Capital reserves

In RMB Yuan

Item	Beginning balance	Addition	Deduction	Ending balance
Share premium	6,804,368,521.99			6,804,368,521.99
Capital reserve transferred arising from the old standards	44,496,899.00			44,496,899.00
reserve of equity investments	17,015,985.20			17,015,985.20
Share-based payments	678,067,785.52	181,288,200.00		859,355,985.52
Other capital reserves (Note)	707,338,445.99	10,747,882.00		718,086,327.99
Total	8,251,287,637.70	192,036,082.00		8,443,323,719.70

43. Treasury stock

In RMB Yuan

Item	Beginning balance	Addition	Deduction	Ending balance
Treasury stock	382,277,095.96		153,652,923.17	228,624,172.79
Total	382,277,095.96		153,652,923.17	228,624,172.79

Note: The annual change in stock capital is due to the unlocking of incentive equity and the distribution of dividends to incentiverecipients by our company.

44. Other comprehensive income

In RMB Yuan

Item	Beginning balance	Amount for this reporting period						Ending balance
		Amount before tax	Deduct: amounts transferred to income statement which were recognized in other comprehensive income in prior period	Deduct: other comprehensive income in the previous period and transferred to retained earnings in the current period	Deduct: Income tax	Amount attributable to owners	Amount attributable to minority interests
I. Other comprehensive income that cannot be transferred to profit or loss under the equity method	168,360,416.57	2.89				2.89		168,360,419.46
Change in net liability or assets from defined benefit plan	355,000.00							355,000.00
Other comprehensive income that cannot be transferred to profit or loss under the equity method	(4,219,273.73)	2.89				2.89		(4,219,270.84)
Changes in the fair value of other equity instrument investments	172,224,690.30							172,224,690.30
II. Other comprehensive income will be reclassified to profit or loss in subsequent period	(50,041,632.53)	82,398,381.44				82,398,381.44		32,356,748.91
Other comprehensive income that can be transferred to profit or loss under the equity method	(75,815.98)	(184,358.40)				(184,358.40)		(260,174.38)
Foreign currency translation difference	(49,965,816.55)	82,582,739.84				82,582,739.84		32,616,923.29
Total	118,318,784.04	82,398,384.33				82,398,384.33		200,717,168.37

45. Special reserves

In RMB Yuan

Item	Beginning balance	Addition	Deduction	Ending balance
Safety fund	54,323,330.34	63,437,107.75	23,629,939.10	94,130,498.99
Total	54,323,330.34	63,437,107.75	23,629,939.10	94,130,498.99

46. Surplus reserves

In RMB Yuan

Item	Beginning balance	Addition	Deduction	Ending balance
Statutory surplus	4,276,245,864.64			4,276,245,864.64
Total	4,276,245,864.64			4,276,245,864.64

47. Retained earnings

In RMB Yuan

Item	Current period	Prior period
Retained earnings at beginning of the year	49,617,932,431.73	41,379,489,865.45
Add: Profits attributable to parent company for the current year	2,831,743,111.82	7,652,979,346.80
Less: Ordinary share dividend of cash	3,412,477,663.18	2,341,414,868.12
Retained earnings at the end of year	49,037,197,880.37	46,691,054,344.13

48. Operating revenue and cost

In RMB Yuan

Item	Amount for this period		Amount for prior period
	Revenue	Cost	Revenue	Cost
Main business	75,031,549,290.98	65,087,923,270.42	64,198,056,038.61	54,041,063,818.77
Other business	1,691,100,432.81	1,046,383,884.70	1,294,042,830.40	748,972,479.99
Total	76,722,649,723.79	66,134,307,155.12	65,492,098,869.01	54,790,036,298.76

49. Tax and surcharges

In RMB Yuan

Item	Amount for this period	Amount for prior period
Consumption tax	1,592,006,613.71	1,666,317,085.12
City maintenance and construction tax	171,545,523.51	208,432,679.24
Educational surcharge	118,956,790.32	140,534,177.17
Others	170,720,143.87	170,890,307.46
Total	2,053,229,071.41	2,186,174,248.99

50. General and administrative expenses

In RMB Yuan

Item	Amount for this period	Amount for prior period
Payroll and welfare	1,892,090,590.24	1,787,629,699.79
Depreciation and amortization	281,069,352.60	231,626,256.31
Traffic expenses and travelling expenses	30,730,486.17	34,511,835.46
Share-based Payment	181,288,200.00	187,899,000.00
Others	41,685,231.78	30,293,616.99
Total	2,426,863,860.79	2,271,960,408.55

51. Operating expenses

In RMB Yuan

Item	Amount for this period	Amount for prior period
Promotion, advertising fee	1,074,267,528.42	1,084,798,251.79
Sales service fee	1,010,007,195.86	460,817,474.16
Payroll and welfare	489,933,234.61	430,787,399.64
Transportation and storage fees	343,523,615.84	220,838,227.15
Travelling expenses	74,258,106.92	47,325,735.92
Package expenses	28,828,727.45	11,749,644.92
Others	57,170,005.17	24,080,857.61
Total	3,077,988,414.27	2,280,397,591.19

52. Research and development expenses

In RMB Yuan

Item	Amount for this period	Amount for prior period
Payroll and welfare	1,392,005,346.65	1,349,892,332.55
Depreciation and amortization	1,214,228,193.17	1,015,646,669.62
Subcontract fee	129,875,960.49	287,631,512.09
Material fee	100,893,665.34	173,948,774.18
Test fee	36,371,652.96	64,510,633.02
Others	38,717,494.79	72,974,183.02
Total	2,912,092,313.40	2,964,604,104.48

53. Financial expenses

In RMB Yuan

Item	Amount for this period	Amount for prior period
Interest expenses	39,521,477.44	36,814,471.44
Less: Interest income	520,495,393.22	532,594,819.89
Net exchange loss (net income indicated by a "-" sign)	(93,277,656.33)	24,815,219.82
Others	24,866,208.10	17,697,023.74
Total	(549,385,364.01)	(453,268,104.89)

54. Other income

Government subsidies related to daily activities

In RMB Yuan

Item	Amount for this period	Amount for prior period
Government subsidies related to daily activities
Among them: Industry support subsidies	1,185,343,468.12	657,988,649.18
Other government subsidies	257,167,183.20
Total	1,442,510,651.32	657,988,649.18

55. Fair value change

In RMB Yuan

Source of income from changes in fair value	Amount for this period	Amount for prior period
Financial assets held for trading	(13,487,271.96)	14,575,284.30
Financial liabilities held for trading	(21,536,907.46)	(37,909,945.45)
Total	(35,024,179.42)	(23,334,661.15)

56. Investment income

In RMB Yuan

Item	Amount for this period	Amount for prior period
Long-term equity investment losses accounted for by the equity method	252,582,688.73	(180,436,966.53)
Investment income from disposal of long-term equity investments		1.00
The investment income of financial asset held for trading during its holding period	1,979,999.95	1,406,842.07
Dividend income from remaining investments in other equity instruments	19,039,320.00	180,656,814.04
Investment income obtained from disposing of trading financial assets	7,187,236.08
Investment income generated from mergers of enterprises not under the same control		5,021,482,128.74
Others	69,922,180.57
Total	350,711,425.33	5,023,108,819.32

57. Impairment loss of credit

In RMB Yuan

Item	Amount for this period	Amount for prior period
Bad debt for account receivable	(579,542.24)	15,463,066.50
Bad debt for other receivables	(179,587.16)	50,421.60
Total	(759,129.40)	15,513,488.10

58. Impairment loss on assets

In RMB Yuan

Item	Amount for this period	Amount for prior period
Inventory impairment losses and contract performance cost impairment losses	137,377,672.60	110,345,479.11
Impairment of fixed assets		184,845,379.29
Impairment of intangible assets		41,460,645.81
Impairment of contract assets	8,891,863.00	60,622,656.78
Total	146,269,535.60	397,274,160.99

59. Gain on disposal of assets

In RMB Yuan

Item	Amount for this period	Amount for prior period
Gain on disposal of fixed-assets	4,819,641.19	366,667,730.28
Gain on disposal of other assets	139,811.50
Total	4,959,452.69	366,667,730.28

60. Non-operating income

In RMB Yuan

Item	Amount for this period	Amount for prior period	Amount recognized in current period as non-recurring profit and loss
Penalty income and others	46,291,779.69	93,295,575.81	46,291,779.69
Total	46,291,779.69	93,295,575.81	46,291,779.69

61. Non-operating expenses

In RMB Yuan

Item	Amount for this period	Amount for prior period	Amount recognized in current period as non-recurring profit and loss
External donation	10,600,000.00	10,600,000.00	10,600,000.00
Fines and late fees	5,489,501.82	52,548.37	5,489,501.82
Others	3,012,325.93	2,846,412.65	3,145,904.28
Total	19,101,827.75	13,498,961.02	19,235,406.10

62. Income tax expense

(1) Table of income tax expense

In RMB Yuan

Item	Amount for this period	Amount for prior period
Current income tax expense	207,971,617.76	429,737,792.88

Deferred income tax expense	(142,342,716.98)	(253,116,967.69)
Total	65,628,900.78	176,620,825.19

(2) The relationship between profit before tax and income tax expense

In RMB Yuan

Item	Amount for this period
Total profit	2,312,391,168.47
Tax at the applicable tax rate	346,858,675.27
Impact of different tax rates of subsidiaries	53,083,760.33
Adjustments to current income tax of previous period	15,871,174.52
Non-taxable income	(97,502,081.20)
Usage previous deductible losses	(3,849,024.07)
The impact of deductible temporary differences or deductible losses on unrecognized deferred tax assets in this period	(26,697,076.08)
Utilize previous deductible losses	(30,776,334.43)
Additional deduction	(191,360,193.56)
Income tax expense	65,628,900.78

63. Other comprehensive income

Please refer to notes VII, 44.

64. Notes to cash flow statement

(1) Cash related to operating activities

Items of cash received relating to other operating activities

In RMB Yuan

Item	Amount for this period	Amount for prior period
Interest income	520,495,393.22	527,001,902.34
Government grants	1,288,500,364.75	863,412,085.63
Others	388,897,857.40	362,804,407.92
Total	2,197,893,615.37	1,753,218,395.89

Items of cash paid relating to other operating activities

In RMB Yuan

Item	Amount for this period	Amount for prior period
Selling expense	1,636,259,495.32	1,490,941,650.90
Administrative expense	710,380,390.84	617,746,243.11
Research and development expenses	1,260,318,906.77	1,384,809,950.23
Others	1,053,447,560.15	926,324,359.78
Total	4,660,406,353.08	4,419,822,204.02

(2) Cash related to investment activities

Items of cash received relating to other investing activities

In RMB Yuan

Item	Amount for this period	Amount for prior period
Merge Deepal Motors under different control		6,216,944,276.29
Fixed deposits and interest	8,070,357,180.56
Total	8,070,357,180.56	6,216,944,276.29

Items of cash paid relating to other investing activities

In RMB Yuan

Item	Amount for this period	Amount for prior period
Deposit	1,400,000,000.00
Total	1,400,000,000.00

(3) Cash related to fundraising activities

Items of cash received relating to other financing activities

In RMB Yuan

Item	Amount for this period	Amount for prior period
Withdraw for deposit of bill	204,348,367.20	362,339,945.61
Others	29,998,629.99
Total	234,346,997.19	362,339,945.61

Items of cash paid relating to other financing activities

In RMB Yuan

Item	Amount for this period	Amount for prior period
Payment for deposit of bill	127,516,036.02	377,810,786.49
Others	53,497,616.56	40,713,903.53
Total	181,013,652.58	418,524,690.02

65. Supplementary information of cash flow statement

(1) Supplementary information of cash flow statement

In RMB Yuan

Supplementary information	Amount for this period	Amount for prior period
1. Cash flows from operating activities calculated by adjusting the net profit
Net profit	2,246,762,267.69	6,967,013,000.07
Add: Credit impairment loss	(759,129.40)	15,513,488.10
Impairment provision for assets	146,269,535.60	397,274,160.99
Depreciation of fixed assets	1,466,019,479.35	1,492,472,007.62
Right-of-use assets depreciation	46,388,885.07	32,246,838.71
Depreciation and amortization of investment real estate	113,355.78	113,355.78

Amortization of intangible assets	1,229,174,331.48	638,535,490.78
Amortization of long-term deferred expense	2,976,275.65	1,468,484.08
Disposal income on fixed assets, intangible assets and others	(4,959,452.69)	(366,667,730.28)
Income of fair value movement	35,024,179.42	23,334,661.15
Financial expense	39,521,477.44	36,814,471.44
Investment income	(350,711,425.33)	(5,023,108,819.32)
Increase in deferred tax assets	(161,826,269.49)	(182,617,869.82)
Decrease in deferred tax liabilities	19,483,552.51	1,404,707,710.78
Decrease in inventory	(238,346,525.70)	(4,429,633,070.54)
Decrease in operating payables	3,849,999,916.55	1,025,339,747.77
Increase in operating payables	(4,890,306,327.68)	4,918,863,583.73
Others	276,614.28	3,787,202.55
Net cash flows from operating activities	3,435,100,740.53	6,955,456,713.59
2．Movement of cash and cash equivalents:
Ending balance of cash	69,549,755,769.83	64,153,666,049.54
Less: beginning balance of cash	63,925,957,901.11	52,491,435,047.74
Increase in cash and cash equivalents	5,623,797,868.72	11,662,231,001.80

(2) Cash and cash equivalents

In RMB Yuan

Item	Ending balance	Beginning balance
I. Cash	69,549,755,769.83	63,925,957,901.11
Including: Cash	4,998.00	35,257.05
Bank deposits that can be readily used	69,524,354,728.43	63,902,699,987.48
Other monetary funds that can be used for payment at any time	25,396,043.40	23,222,656.58
II. Ending balance of cash and cash equivalents	69,549,755,769.83	63,925,957,901.11

66. Foreign Monetary Item

In RMB Yuan

Item	Original Currency	Exchange Rate	Translated to RMB
Cash
Including: USD	36,127,533.31	7.1268	257,473,704.39
EUR	1,398,640.50	7.6500	10,699,599.83
GBP	3,320,521.04	9.0706	30,119,118.15
JPY	184,517,456.00	0.0450	8,303,285.52
RUB	15,595,802,372.85	0.0838	1,306,928,238.84
MXN	59,832,149.70	2.3600	141,203,873.29
THB	2,029,117,935.15	0.1952	396,083,820.94
Accounts receivable
Including: USD	62,659,531.87	7.1268	446,561,951.73
Other receivables

Including: JPY	17,408,320.00	0.0450	783,374.40
THB	18,129,869.90	0.1952	3,538,950.60
Accounts Payable
Including: USD	78,577.88	7.1268	560,008.84
EUR	3,320,521.04	9.0706	30,119,118.15
JPY	184,517,456.00	0.0450	8,303,285.52
RUB	4,477,199,215.15	0.0838	375,189,294.23

67. Lease

(1) As the lessee

In RMB Yuan

Item	Current amount
Interest expenses on lease liabilities	8,326,218.00
Simplified treatment of short-term lease expenses included in relevant asset costs or current profit and loss	15,949,559.83
Simplified treatment of low value asset leasing expenses included in relevant asset costs or current profit and loss (excluding short-term leasing expenses for low value assets)	292,613.20
Total cash outflow related to leasing	56,008,720.71

(2) As the lessor

Operating lease as a lessor

√ Applicable □ Not applicable

In RMB Yuan

Item	Current amount
Rental Income	175,898,356.02
Total	175,898,356.02

The undiscounted lease receipts received after the balance sheet date are as follows:

In RMB Yuan

Item	Ending balance	Beginning balance
Within 1 year	271,710,550.60	388,255,072.48
1 to 2 years	262,506,229.88	260,689,384.89
2 to 3 years	131,816,053.61	130,967,274.89
3 to 4 years	35,129,298.25	34,577,303.73
4 to 5 years	32,867,502.54	26,810,816.32
More than 5 years	237,874.86	1,506,050.47
Total	734,267,509.74	842,805,902.78

VIII. R&D expenditure

1. R&D expenditure

In RMB Yuan

Item	Current amount incurred	Amount incurred in the previous period
Payroll and welfare	1,847,480,590.73	1,831,037,974.12
Depreciation and amortization	1,215,792,215.05	1,015,663,481.63
Subcontract fee	869,620,089.13	563,448,725.54
Material fee	280,411,158.30	280,999,970.17
Test fee	126,874,613.69	186,684,209.51
Others	269,541,531.16	149,978,855.77
Total	4,609,720,198.06	4,027,813,216.74
Among them: Expensed R&D expenses	2,912,092,313.40	2,964,604,104.48
Capitalized R&D expenses	1,697,627,884.66	1,063,209,112.26

2. Development expenditure

In RMB Yuan

Item	Beginning balance	Increased	Decreased		Ending balance
		Internal development expenses	Confirmed as intangible assets	Others
Automotive development	2,241,820,556.70	1,697,627,884.66	486,094,425.23	157,514,353.09	3,295,839,663.04
Total	2,241,820,556.70	1,697,627,884.66	486,094,425.23	157,514,353.09	3,295,839,663.04

IX. The change of consolidation scopeNone.X. Stake in other entities

1. Rights in subsidiaries

(1) Composition of Enterprise Groups

Company name	Registered capital (ten thousand)	Main operating place	Registered place	Nature of business	Total proportion of shareholders (%)		Acquisition method
					Direct	Indirect
Chongqing Changan International Automobile Sales Co., Ltd.	118,275.64	Chongqing	Chongqing	Sale	100.00		Establish
Chongqing Changan Vehicle Networking Technology Co., Ltd.	8,850.00	Chongqing	Chongqing	Lease	100.00		Establish
Chongqing Changan Special Automobile Sales Co., Ltd (Note 1)	2,000.00	Chongqing	Chongqing	Sale	50.00		Establish
Chongqing Changan Automobile Supporting Service Co., Ltd.	3,000.00	Chongqing	Chongqing	Sale	99.00	1.00	Establish

Chongqing Zhilaidadao New Energy Vehicle Co., Ltd	2,900.00	Chongqing	Chongqing	Research and development	100.00		Establish
Chongqing Changan Europe Design Center Co., Ltd.	EUR 1,738	Turin, Italy	Turin, Italy	Research and development	100.00		Establish
Changan United Kingdom R&D Center Co., Ltd.	GBP 2,639	Nottingham, UK	Nottingham, UK	Research and development	100.00		Establish
Beijing Changan R&D Center Co., Ltd.	100.00	Beijing	Beijing	Research and development	100.00		Establish
Changan Japan Designing Center Co.,Ltd	JYP1,000	Yokohama, Japan	Yokohama, Japan	Research and development	100.00		Establish
Changan United States R&D Center Co., Ltd.	USD154	Novi, USA	Novi, USA	Research and development	100.00		Establish
Changan Automobile Russia Co., Ltd.	RUB 220,382	Moscow, Russia	Moscow, Russia	Sale	100.00		Establish
Changan Automobile Investment (Shenzhen) Co., Ltd.	23,789.00	Shenzhen	Shenzhen	Sale	100.00		Establish
Nanjing Changan New Energy Automobile Sales & Service Co., Ltd.	5,000.00	Nanjing	Nanjing	Sale	100.00		Establish
Chongqing Anyi Automotive Technology Service Co., Ltd.	200.00	Chongqing	Chongqing	Sale	100.00		Establish
Xiamen Changan New Energy Automobile Sales & Service Co., Ltd.	200.00	Xiamen	Xiamen	Sale	100.00		Establish
Guangzhou Changan New Energy Automobile Sales & Service Co., Ltd.	400.00	Guangzhou	Guangzhou	Sale	100.00		Establish
Chongqing Chehemei Technology Co., Ltd.	1,000.00	Chongqing	Chongqing	Sale	100.00		Establish
Chongqing Changan Kaicheng Automobile Technology Co., Ltd.	100,000.00	Chongqing	Chongqing	Sale	83.64		Establish
Chongqing Changan Automobile Software Technology Co., Ltd.	9,900.00	Chongqing	Chongqing	Research and development	100.00		Establish
Chongqing Chehemei Technology Co., Ltd.	4,900.00	Chongqing	Chongqing	Sale	100.00		Establish
Chongqing Changan Technology Co., Ltd	9,000.00	Chongqing	Chongqing	Research and development	100.00		Establish
Chongqing Changan Xing Automobile Co., Ltd	2,000.00	Chongqing	Chongqing	Lease	100.00		Establish
Nanjing Changan Automobile Co., Ltd.(Note 2)	60,181.00	Nanjing	Nanjing	Manufacturing	84.73		Merger of enterprises not under the same control
Chongqing Lingyao Automobile Co., Ltd.	133,764.00	Chongqing	Chongqing	Manufacturing	100.00		Merger of enterprises not under the same control
Deepal Automobile Technology Co., Ltd	32,810.83	Chongqing	Chongqing	Manufacturing	51.00		Merger of enterprises not under the same control
Hefei Changan Automobile Co.,Ltd.	227,500.00	Hefei	Hefei	Manufacturing	100.00		Merger of enterprises under the same control

Note 1: The remaining shareholders of Chongqing Changan Special Purpose Vehicle Co., Ltd. have signed concerted action agreementswith the company, agreeing to vote according to the company's voting intentions. Therefore, the company can exercise control overthem and include them in the scope of the consolidated financial statements.Note 2: Our company holds 91.53% of the voting rights in Nanjing Changan Automobile Co., Ltd. The reason for the inconsistencybetween our shareholding and voting rights is that some minority shareholders have entrusted our company to exercise their votingrights.

(2) Important non wholly owned subsidiaries

In RMB Yuan

Name	Minority shareholder shareholding ratio	Profit and loss attributable to minority shareholders in this period	Dividends declared for distribution to minority shareholders in this period	Closing balance of minority shareholders' equity
Deepal Automotive Technology Co., Ltd	49%	(361,949,218.62)		(1,311,051,621.86)

(3) Main financial information of important non wholly owned subsidiaries

In RMB Yuan

Name	Ending balance
	Current assets	Non current assets	Total assets	Current liabilities	Non current liabilities	Total liabilities
Deepal Automotive	19,587,530,651.25	3,778,868,303.07	23,366,398,954.32	24,213,841,701.44	1,827,954,407.92	26,041,796,109.36

In RMB Yuan

Name	Beginning balance
	Current assets	Non current assets	Total assets	Current liabilities	Non current liabilities	Total liabilities
Deepal Automotive	19,532,107,979.29	3,335,776,374.16	22,867,884,353.45	23,372,178,834.61	1,464,812,108.74	24,836,990,943.35

In RMB Yuan

Name	Current amount incurred
	Operating income	Net profit	Total comprehensive income	Cash flow from operating activities
Deepal Automotive	13,981,380,535.82	(738,611,579.92)	(738,611,579.92)	188,860,877.54

In RMB Yuan

Name	Amount incurred in the previous period
	Operating income	Net profit	Total comprehensive income	Cash flow from operating activities
Deepal Automotive	8,828,401,817.81	(1,058,521,570.86)	(1,058,521,570.86)	(2,577,925,021.38)

2. Stakes in joint ventures and associates

(1) Significant joint ventures or associates

Name of joint venture or associated enterprise	Main operating place	Registered place	Nature of business	Total proportion of shareholders (%)		Accounting treatment
				Direct	Indirect
Changan Ford Automobile Co., Ltd.	Chongqing	Chongqing	Manufacture and sale of automobiles, and components	50.00		Equity

Avatr. Co., Ltd

Chongqing

Chongqing

New energy vehicle manufacturing

40.9940

Equity

(2) Key financial information of significant joint ventures

In RMB Yuan

	Ending balance/Amount for this period	Beginning balance/Amount for prior period
	Changan Ford	Changan Ford
Current assets	14,419,604,004.16	12,331,898,432.45
Non-current assets	12,539,894,934.86	13,881,353,746.59
Total assets	26,959,498,939.02	26,213,252,179.04
Current liabilities	16,426,704,017.90	21,314,464,718.72
Non-current liabilities	9,134,085,691.47	5,328,845,420.37
Total liabilities	25,560,789,709.37	26,643,310,139.09
Minority interests	50,600,596.35	67,713,664.93
Equity attributable to owners	1,348,108,633.30	(497,771,624.98)
Net asset owned according to share proportion	674,054,316.65	(248,885,812.49)
Adjustment	(55,293,124.59)	248,885,812.49
Book value of investment	618,761,192.06	-
Fair value of equity investments in joint ventures with publicly quoted prices
Net profit	1,821,149,735.52	799,233,915.94
Net profit from discontinued operations
Other comprehensive income
Total comprehensive income	1,821,149,735.52	799,233,915.94
Dividends received from joint ventures this year

(3) Key financial information of significant associated ventures

In RMB Yuan

	Ending balance/Amount for this period	Beginning balance/Amount for prior period
	Avatr	Avatr
Current assets	9,669,463,056.62	10,513,768,163.43
Non-current assets	3,076,806,130.71	2,130,278,114.28
Total assets	12,746,269,187.33	12,644,046,277.71
Current liabilities	11,020,047,720.58	9,864,279,866.61
Non-current liabilities	1,020,245,511.52	685,987,794.52
Total liabilities	12,040,293,232.10	10,550,267,661.13
Minority interests
Equity attributable to owners	705,975,955.23	2,093,778,616.58
Net asset owned according to share proportion	289,407,783.09	858,321,512.30
Adjustment	1,418,415,643.50	1,437,388,747.49

Book value of investment	1,707,823,426.59	2,295,710,259.79
Fair value of equity investments in joint ventures with publicly quoted prices
Net profit	(1,395,466,105.15)	(1,756,458,646.69)
Net profit from discontinued operations
Other comprehensive income
Total comprehensive income	(1,395,466,105.15)	(1,756,458,646.69)
Dividends received from joint ventures this year

(4) The financial status of the less important joint ventures and associates

In RMB Yuan

	Ending balance	Beginning balance
Joint venture:
Total book value of the investment	3,870,282,808.64	3,789,451,718.73
Total amount calculated by shareholding proportion
--Net profit	80,831,087.02	50,249,613.41
--Other comprehensive income	2.89
--Total comprehensive income	80,831,089.91	50,249,613.41
Associates:
Total book value of the investment	7,912,295,071.89	7,702,230,006.95
Total amount calculated by shareholding proportion
--Net profit	149,862,202.55	119,453,284.98
--Other comprehensive income	(5,967,137.61)
--Total comprehensive income	143,895,064.94	119,453,284.98

(5) Excessive losses incurred by joint ventures or associates

Our company has no obligation to bear additional losses to Jiangling Holdings Limited. Therefore, when it incurs excess losses, weonly write down long-term equity investments to zero and do not recognize excess losses related to investments in theaforementioned companies.

XI. Government subsidies

1. Debt projects involving government subsidies

In RMB Yuan

Ledger Account	Beginning balance	Newly added subsidy amount during the period	Transfer of other income amount in this period	Cost deduction amount for this period	Other decreases in this period	Ending balance	Related to assets/earnings
Deferred income	610,407,171.08				104,408,720.03	505,998,451.05	Asset related
Deferred income	108,433,372.44	115,308,720.03	50,000,000.00	3,188,720.03		170,553,372.44	Income related

2. Government subsidies included in current profit and loss

Grants related to income

In RMB Yuan

Projects that offset related cost and expense losses	The amount of offsetting related cost and expense losses
	Current amount incurred	Amount incurred in the previous period
Operating costs	133,204,096.39	23,614,843.48
selling expenses	1,746,029.54	6,763,467.92
Management expenses	7,743,252.52	8,254,895.38
R&D expenses	5,000,000.00	12,334,313.00
Total	147,693,378.45	50,967,519.78

XII. Risks associated with financial instruments

1. Various risks arising from financial instruments

Our company faces various financial risks in the process of operation, including credit risk, liquidity risk, and market risk (includingexchange rate risk, interest rate risk, and other price risks). The above financial risks and the risk management policies adopted by ourcompany to reduce these risks are as follows:

The overall goal of our company's risk management is to develop risk management policies that minimize risks as much as possiblewithout excessively affecting the company's competitiveness and adaptability.

Credit risks

Credit risk refers to the risk of financial losses incurred by the company due to the counterparty's failure to fulfill contractual obligations.

The credit risk of our company mainly arises from monetary funds, accounts receivable, accounts receivable financing, otherreceivables, as well as debt instrument investments measured at fair value with changes recognized in current profit or loss that are notincluded in the scope of impairment assessment.

Our company's monetary funds are mainly deposited in state-owned banks with good reputation and high credit ratings, affiliatedfinance companies and automotive finance companies, as well as other large and medium-sized listed banks. We believe that there isno significant credit risk and there will be almost no significant losses caused by bank defaults.

In addition, the company has established relevant policies to control credit risk exposure for accounts receivable, accounts receivable,accounts receivable financing, contract assets, and other receivables. Our company evaluates customers' credit qualifications and setscorresponding credit periods based on their financial status, the possibility of obtaining guarantees from third parties, credit records,and other factors such as current market conditions. Our company will regularly monitor customer credit records. For customers withpoor credit records, we will use written reminders, shorten credit periods, or cancel credit periods to ensure that our overall credit riskis within a controllable range.

Liquidity risk

Liquidity risk refers to the risk of a shortage of funds when an enterprise fulfills its obligation to settle by delivering cash or otherfinancial assets.

Our company's policy is to ensure sufficient cash to repay maturing debts. Liquidity risk is centrally controlled by the financedepartment of our company. The finance department ensures that the company has sufficient funds to repay its debts under allreasonable forecasts by monitoring cash balances, convertible securities, and rolling forecasts of cash flows for the next 12 months. Atthe same time, continuously monitor whether the company complies with the provisions of the loan agreement and obtain commitmentsfrom major financial institutions to provide sufficient reserve funds to meet short-term and long-term funding needs.

Market risk

The market risk of financial instruments refers to the risk of fluctuations in the fair value or future cash flows of financial instrumentsdue to changes in market prices, including exchange rate risk, interest rate risk, and other price risks.

(1) Interest rate risk

Interest rate risk refers to the risk of fluctuations in the fair value or future cash flows of financial instruments due to changes in marketinterest rates.Fixed rate and floating rate interest bearing financial instruments expose our company to fair value interest rate risk and cash flowinterest rate risk, respectively. Our company determines the ratio of fixed rate and floating rate instruments based on market conditions,and maintains an appropriate combination of fixed and floating rate instruments through regular review and supervision. Whennecessary, our company will use interest rate swap tools to hedge interest rate risk.Our company's revenue and operating cash flow are basically unaffected by fluctuations in market interest rates. On June 30, 2024, allbank loans and payable bonds of our company will accrue interest at a fixed rate. Our company currently does not hedge against interestrate risk.

(2) Exchange rate risk

Exchange rate risk refers to the risk of fluctuations in the fair value or future cash flows of financial instruments due to changes inforeign exchange rates.Our company continuously monitors foreign currency transactions and the scale of foreign currency assets and liabilities to minimizethe foreign exchange risks we face. In addition, the company may also sign forward foreign exchange contracts or currency swapcontracts to avoid exchange rate risks.

(3) Other price risks

Other price risk refers to the risk of fluctuations in the fair value or future cash flows of financial instruments due to market pricechanges other than exchange rate risk and interest rate risk.Our company's other price risks mainly arise from various equity instrument investments, and there is a risk of changes in equityinstrument prices.On June 30, 2024, assuming all other variables remain constant, if the value of equity instruments increases or decreases by 5%, theCompany will increase or decrease its net profit by 6488407.75 yuan. The management believes that 5% reasonably reflects thereasonable range within which the value of equity instruments may change in the next year.

XIII. Disclosure of fair value

1. Closing fair value of assets and liabilities measured at fair value

In RMB Yuan

Items	Fair value at the end of the period
	First level fair value measuremen	Second level fair value measuremen	Third level fair value measuremen	Total
Trading financial assets	152,668,417.66			152,668,417.66
Other equity instrument investments			504,190,082.71	504,190,082.71
Trading financial liabilities		12,941,513.71		12,941,513.71

XIV. Related party relationships and transactions

1. Parent company of the Company

Parent company	Place of registration	Nature of the business	Registered capital	Proportion of shares in the Company (%)	Proportion of voting rights in the company (%)
China Changan Automobile Group Co ,Ltd.	Beijing	Manufacture and sale of automobiles, engine, and components	6,092,273,400.00	20.81%	20.81%

The Final controlling party is China South Industries Group corporation

2. Subsidiaries

See subsidiaries in X（1）. Stake in other entities.

3. Joint ventures and associates

See Joint ventures and associates in X（2） Stake in other entities.

4. Other related parties

Related parties	Relationship
Anhui Wanyou Automobile Sales and Service Co., Ltd	Controlled by the same ultimate holding company
Chengdu Huachuan Electric Equipment Co., Ltd	Controlled by the same ultimate holding company
Chenzhi (Chengdu) Intelligent Suspension Co., Ltd	Controlled by the same ultimate holding company
Chengdu Wanyou Trading Co., Ltd	Controlled by the same ultimate holding company
Chengdu Wanyou Automobile Sales and Service Co., Ltd	Controlled by the same ultimate holding company
Chengdu Wanyou Automobile Trading Service Co., Ltd	Controlled by the same ultimate holding company
Chengdu Wanyou Xiangyu Automobile Sales and Service Co., Ltd	Controlled by the same ultimate holding company
Guizhou Wanyou Automobile Sales and Service Co., Ltd	Controlled by the same ultimate holding company
Harbin Dongan Automotive Power Co., Ltd	Controlled by the same ultimate holding company
Harbin Dongan Automotive Engine Manufacturing Co., Ltd	Controlled by the same ultimate holding company
Hunan Tianyan Machinery Co., Ltd	Controlled by the same ultimate holding company
Jiangsu Wanyou Automobile Sales and Service Co., Ltd	Controlled by the same ultimate holding company
Luzhou Wanyou Automobile Service Co., Ltd	Controlled by the same ultimate holding company
CSM Faurecia Automotive Parts Co., Ltd.	Controlled by the same ultimate holding company
Chenzhi (Chongqing) Brake System Co., Ltd	Controlled by the same ultimate holding company
South Inter Air-conditioner Co.,Ltd.	Controlled by the same ultimate holding company
Panzhihua Wanyou Automobile Sales and Service Co., Ltd	Controlled by the same ultimate holding company
Sichuan Jianan Industrial Co., Ltd	Controlled by the same ultimate holding company
Sichuan Ningjiang Shanchuan Machinery Co., Ltd	Controlled by the same ultimate holding company
Yaan Wanyou Automobile Sales and Service Co., Ltd	Controlled by the same ultimate holding company
Yunnan Wanyou Automobile Sales and Service Co., Ltd	Controlled by the same ultimate holding company
China Changan Automobile Group Tianjin Sales Co., Ltd	Controlled by the same ultimate holding company
Chongqing Qingshan Industrial Co., Ltd	Controlled by the same ultimate holding company
Chongqing Wanyou Ducheng Auto Sales Service Co., Ltd.	Controlled by the same ultimate holding company
Chongqing Wanyou Xingjian Auto Sales & Service Co., Ltd.	Controlled by the same ultimate holding company
Chongqing Wanyou Economic Development Co., Ltd.	Controlled by the same ultimate holding company
Chongqing Wanyou Zunda Automobile Sales & Service Co., Ltd.	Controlled by the same ultimate holding company
Chongqing Changan Minsheng Logistics Co. Ltd.	Controlled by the same ultimate holding company
Beijing Beiji Electromechanical Industry Co., Ltd	Controlled by the same ultimate holding company
Chengdu Zhongzi Guangming Catalytic Technology Co., Ltd	Controlled by the same ultimate holding company
Chengdu Jialing Huaxi Optical Precision Machinery Co., Ltd	Controlled by the same ultimate holding company
Chengdu Lingchuan Automotive Fuel Tank Co., Ltd	Controlled by the same ultimate holding company
Chengdu Wanyou Filter Co., Ltd	Controlled by the same ultimate holding company
Hubei Huazhong Marelli Automotive Lighting Co., Ltd	Controlled by the same ultimate holding company
Hubei Xiaogan Huazhong Car Lamp Co., Ltd	Controlled by the same ultimate holding company

Related parties	Relationship
Construction Industry Group (Yunnan) Co., Ltd	Controlled by the same ultimate holding company
China Ordnance Equipment Group Human Resources Development Center	Controlled by the same ultimate holding company
China Ordnance Equipment Group Commercial Factoring Co., Ltd	Controlled by the same ultimate holding company
Chongqing Dajiang Jiexin Forging Co., Ltd.	Controlled by the same ultimate holding company
Chongqing Jianshe Automobile Air-conditioner Co., Ltd.	Controlled by the same ultimate holding company
Chongqing Construction Tongda Industrial Co., Ltd.	Controlled by the same ultimate holding company
Chongqing Shangfang Automobile Fittings Co., Ltd.	Controlled by the same ultimate holding company
Chongqing Qingshan Transmission Sales Co., Ltd.	Controlled by the same ultimate holding company
Chongqing Yihong Engineering Plastic Products Co., Ltd.	Controlled by the same ultimate holding company
Chongqing Changan industry (Group) Co., Ltd	Controlled by the same ultimate holding company
Chongqing Changan Property Management Co., Ltd.	Controlled by the same ultimate holding company
Beijing Zhongbing Insurance Brokerage Co., Ltd.	Controlled by the same ultimate holding company
Chongqing Changan Intelligent Industrial Technology Service Co., Ltd.	Controlled by the same ultimate holding company
Longchang Shanchuan Precision Welded Tube Co., Ltd.	Controlled by the same ultimate holding company
Nanyang Lida Optoelectronics Co., Ltd	Controlled by the same ultimate holding company
Chongqing Changrong Machinery Co., Ltd.	Controlled by the same ultimate holding company
Southwest Ordnance Industry Chongqing Environmental Protection Research Institute Co., Ltd.	Controlled by the same ultimate holding company
China Ordnance News	Controlled by the same ultimate holding company
Chongqing Wanyou Zhicheng Automobile Sales and Service Co., Ltd	Controlled by the same ultimate holding company
Chongqing Wanyou Chengxing Automobile Sales and Service Co., Ltd	Controlled by the same ultimate holding company
Chongqing Changxiang Supply Chain Technology Co., Ltd	Controlled by the same ultimate holding company
China Ordnance Equipment Group Automation Research Institute Co., Ltd	Controlled by the same ultimate holding company
Chongqing Southwest Inspection and Testing Co., Ltd	Controlled by the same ultimate holding company
China South Industries Group Commercial Factoring Co., Ltd.	Controlled by the same ultimate holding company
Wanyou Automobile Investment Co., Ltd	Controlled by the same ultimate holding company
China Ordnance Equipment Group Finance Leasing Co., Ltd	Controlled by the same ultimate holding company
Chongqing Anfu Automobile Co., Ltd.	Controlled by the same ultimate holding company
Chongqing Fuji Supply Chain Management Co., Ltd	Controlled by the same ultimate holding company
Ordnance Equipment Group Finance Co., Ltd	Controlled by the same ultimate holding company
Dali Wanfu Automobile Sales and Service Co., Ltd	Controlled by the same ultimate holding company
Hubei Huazhong Changjiang Optoelectronics Technology Co., Ltd	Controlled by the same ultimate holding company
Chenzhi Technology Co., Ltd	Controlled by the same ultimate holding company
Beijing North Changfu Automobile Sales Co., Ltd	Controlled by the same ultimate holding company
China Changan Automobile Group Hefei Investment Co., Ltd	Controlled by the same ultimate holding company
Chongqing Construction Industry (Group) Co., Ltd	Controlled by the same ultimate holding company
Chongqing Jialing Yimin Special Equipment Co., Ltd.	Controlled by the same ultimate holding company
Chongqing Jianshe Mechanical & Electrical Equipment Co., Ltd.	Controlled by the same ultimate holding company
Chongqing Xiyi Automobile Connecting Rod Co., Ltd.	Controlled by the same ultimate holding company
Ordnance Equipment Research Institute of China Ordnance Equipment Group	Controlled by the same ultimate holding company
Bazhong Wanyou Automobile Sales and Service Co., Ltd	Controlled by the same ultimate holding company
Chongqing Changan Construction Co., Ltd.	Controlled by the same ultimate holding company
Hunan Tianyan Machinery Co., Ltd	Controlled by the same ultimate holding company
Chengdu Lingchuan Special Industry Co., Ltd	Controlled by the same ultimate holding company

Related parties	Relationship
Yunnan Wanxing Auto Sales Service Co., Ltd.	Controlled by the same ultimate holding company
Hubei Xiaogan Huazhong Car Lamp Co., Ltd	Controlled by the same ultimate holding company
Chongqing Dajiang Xinda Vehicle Co., Ltd	Controlled by the same ultimate holding company
Hafei Automobile Co., Ltd	Companies in which the company participates
Chongqing Dajiang Yuqiang Plastic Co., Ltd.	Companies in which the company participates
Chongqing Nexteer Steering System Co.,Ltd.	Companies in which the company participates
Lear Changan (Chongqing) Automotive System Co., Ltd	Companies in which the company participates
United Automotive Electronics (Chongqing) Co., Ltd	Companies in which the company participates
GKN HUAYU Driveline Systems (Chongqing) Co., Ltd	Companies in which the company participates
Tiannak Lingchuan (Chongqing) exhaust system Co., Ltd	Companies in which the company participates
Chongqing Dajiang Tongyang Plastics Co., Ltd.	Companies in which the company participates
Chongqing Dajiang Guoli Precision Machinery Manufacturing Co., Ltd.	Companies in which the company participates
Dajiang Yapp Automotive Systems Co., Ltd.	Companies in which the company participates
Chongqing Hanon Jianshe Automotive Thermal Systems Co., Ltd.	Companies in which the company participates
Chongqing Lingchuan Auto Parts Manufacturing Technology Co., Ltd.	Companies in which the company participates
Chongqing Wanyou Talent Service Co., Ltd	Companies in which the company participates
Changan Laisi (Chongqing) robot intelligent equipment Co., Ltd	Companies in which the company participates

5. Related-party transaction

(1) Transactions of goods and services

Goods purchased and services received

In RMB Yuan

Related parties	Nature of the transaction	Current amount	Approved transaction amount	Whether it exceeds the transaction amount	Prior-period amount
Chongqing Qingshan Industrial Co., Ltd	Purchasing parts and accepting labor services	4,493,367,383.45	11,425,588,256.20	No	4,247,550,166.24
Jiangling Holdings Co., Ltd.	Purchasing parts and accepting labor services	2,169,860,345.56	12,995,016,030.33	No	514,070,488.27
Chongqing Changan Minsheng Logistics Co. Ltd.	Purchasing parts and accepting labor services	2,098,821,621.39	7,997,202,114.58	No	2,685,849,489.33
Times Changan Power Battery Co.,Ltd.	Procurement of parts	821,368,168.15	7,704,110,383.18	No	-
Chenzhi (Chongqing) Brake System Co., Ltd	Procurement of parts	624,315,030.21	748,646,684.89	No	547,250,941.45
Sichuan Jian'an Industrial Co., Ltd	Purchasing parts and accepting labor services	548,125,486.31	1,951,122,305.64	No	569,748,423.73

Related parties	Nature of the transaction	Current amount	Approved transaction amount	Whether it exceeds the transaction amount	Prior-period amount
United Automotive Electronics (Chongqing) Co., Ltd	Purchasing parts and accepting labor services	511,597,954.64	1,478,445,956.29	No	489,858,832.36
Harbin Dongan Automotive Engine Manufacturing Co., Ltd.	Procurement of parts	500,527,166.71	761,922,037.96	No	286,555,317.12
Chongqing Nexteer Steering System Co.,Ltd.	Procurement of parts	477,982,649.73	1,551,409,889.43	No	482,284,076.02
Hubei Huazhong Marelli Automobile Lighting Co., Ltd.	Purchasing parts and accepting labor services	461,129,146.14	1,633,883,190.34	No	425,498,458.56
Sichuan Ningjiang Shanchuan Machinery Co, Ltd.	Procurement of parts	433,060,404.47	961,859,835.88	No	250,225,299.36
Chengdu Huachuan Electric Equipment Co., Ltd.	Procurement of parts	392,829,660.89	821,874,569.68	No	265,398,399.77
South Inter Air-conditioner Co.,Ltd.	Procurement of parts	359,507,403.70	1,917,170,046.97	No	324,599,906.01
Chongqing Dajiang Tongyang Plastics Co., Ltd.	Procurement of parts	343,273,903.25	795,342,283.36	No	251,637,351.95
CSM Faurecia Automotive Parts Co., Ltd.	Procurement of parts	278,100,304.72	996,492,651.38	No	293,507,822.63
Chongqing Dajiang Guoli Precision Machinery Manufacturing Co., Ltd.	Procurement of parts	200,516,763.71	922,918,313.76	No	243,266,094.33
Dajiang Yapp Automotive Systems Co., Ltd.	Procurement of parts	189,047,680.99	568,179,277.18	No	218,898,950.45
Chongqing Wutong Chelian Technology Co., Ltd.	Purchasing parts and accepting labor services	171,231,816.16	682,869,759.95	No	157,766,418.74
GKN HUAYU Driveline Systems (Chongqing) Co., Ltd.	Procurement of parts	168,940,531.23	517,379,244.64	No	175,750,765.78
Lear Changan (Chongqing) Automotive System Co., Ltd	Procurement of parts	157,811,927.34	408,322,221.59	No	186,552,716.15
Harbin Dongan Auto Engine Co., Ltd.	Procurement of parts	151,227,473.28	490,421,895.83	No	201,477,650.66
Chengdu Zhongzi Guangming Catalytic Technology Co., Ltd	Procurement of parts	135,729,566.81	1,001,172,941.16	No	277,552,589.96
Chongqing Changrong Machinery Co., Ltd.	Procurement of parts	111,907,956.90	424,994,542.10	No	136,845,945.08
Chongqing Changxian Intelligent Technology Co., Ltd	Accept labor	99,626,120.31	1,106,539,793.14	No	-
Changan Auto Finance Co., Ltd.	Accept labor	96,613,789.13	71,878,099.63	Yes	40,003,766.38
Chongqing Lingchuan Auto Parts Manufacturing Technology Co., Ltd.	Procurement of parts	95,858,621.77	252,436,715.62	No	101,723,761.38
Hubei Xiaogan Huazhong Car Lamp Co., Ltd	Purchasing parts and accepting labor services	89,196,328.09	192,786,397.56	No	62,177,934.16

Related parties	Nature of the transaction	Current amount	Approved transaction amount	Whether it exceeds the transaction amount	Prior-period amount
Construction Industry Group (Yunnan) Co., Ltd	Procurement of parts	84,007,141.90	18,958,146.72	Yes	65,386,027.01
Chongqing Shangfang Automobile Fittings Co., Ltd.	Procurement of parts	66,085,066.45	195,574,217.92	No	56,847,951.59
Chongqing Jianshe Automobile Air-conditioner Co., Ltd.	Procurement of parts	63,029,494.51	66,707,582.27	No	30,929,139.50
Chengdu Wanyou Filter Co., Ltd.	Procurement of parts	62,558,707.43	170,247,389.42	No	60,828,232.32
Hunan Tianyan Machinery Co., Ltd	Procurement of parts	57,921,928.22	183,259,652.11	No	59,035,655.33
Chongqing Hanon Jianshe Automotive Thermal Systems Co., Ltd.	Procurement of parts	53,751,899.29	221,965,490.53	No	75,943,637.67
Tiannak Lingchuan (Chongqing) exhaust system Co., Ltd	Procurement of parts	52,478,337.69	95,197,423.91	No	23,033,580.78
Beijing Wutong Chelian Technology Co., Ltd.	Procurement of parts	29,697,349.74	80,644,096.51	No	32,740,169.65
Chongqing Yihong Engineering Plastic Products Co., Ltd.	Procurement of parts	28,672,849.28	89,793,888.52	No	35,614,480.95
Chongqing Qingshan Transmission Sales Co., Ltd.	Procurement of parts	26,758,385.18	84,535,268.03	No	29,495,148.15
Chengdu Lingchuan Vehicle Oil Tank Co., Ltd.	Procurement of parts	25,621,052.62	59,766,079.02	No	22,896,846.34
Chongqing Changan Intelligent Industrial Technology Service Co., Ltd	Accept labor	21,919,338.63	44,322,749.40	No	11,279,433.62
Chongqing Construction Tongda Industrial Co., Ltd.	Procurement of parts	20,559,686.91	75,862,450.69	No	27,756,255.26
Chongqing Wanyou Economic Development Co., Ltd.	Purchasing parts and accepting labor services	16,725,120.28	48,860,186.86	No	14,785,490.80
Yunnan Wanyou Auto Sales and Service Co., Ltd.	Accept labor	14,694,568.91	40,301,439.80	No	10,507,634.88
Chongqing Wanyou Talent Service Co., Ltd	Accept labor	10,534,775.09	15,055,678.38	No	-
Chengdu Wanyou Xiangyu Auto Sales and Service Co., Ltd.	Accept labor	10,504,081.34	21,072,352.03	No	8,781,051.72
Longchang Shanchuan Precision Welded Tube Co., Ltd.	Procurement of parts	10,384,036.29	31,679,559.84	No	12,373,330.60
Guizhou Wanyou Auto Sales and Service Co., Ltd.	Accept labor	9,659,028.54	22,139,865.33	No	6,496,124.73
Southwest Ordnance Industry Chongqing Environmental Protection Research Institute Co., Ltd.	Accept labor	9,504,544.41	14,958,443.14	No	445,897.62
China Changan Automobile Group Co., Ltd	Procurement of parts	8,977,833.80	15,896,254.80	No	-
Chongqing Dajiang Jiexin Forging Co., Ltd	Procurement of parts	6,826,450.87	1,661,216.45	Yes	916,320.42
Chongqing Changan industry (Group) Co., Ltd	Accept labor	6,673,053.09	128,952,000.00	No	6,981,144.30

Related parties	Nature of the transaction	Current amount	Approved transaction amount	Whether it exceeds the transaction amount	Prior-period amount
Jiangsu Wanyou Automobile Sales Service Co., Ltd.	Accept labor	6,374,830.46	10,836,359.06	No	3,530,670.99
Chengdu Wanyou Auto Trade Service Co., Ltd.	Accept labor	4,990,765.15	13,194,208.49	No	3,136,714.77
Chongqing Changan Property Management Co., Ltd.	Accept labor	4,582,907.88	25,788,000.00	No	5,556,152.45
Anhui Wanyou Automobile Sales Service Co., Ltd.	Accept labor	3,213,766.01	7,610,801.88	No	2,622,805.44
Changan Mazda Engine Co., Ltd.	Accept labor	3,041,536.34	3,000,000.00	Yes	-
China Changan Automobile Group Tianjin Sales Co., Ltd.	Accept labor	2,677,994.00	7,360,976.57	No	2,515,157.69
Avatr Technology (Chongqing) Co., Ltd	Accept labor	2,204,245.81	5,503,506.90	No	928,938.06
Chongqing Wanyou Ducheng Auto Sales Service Co., Ltd.	Accept labor	1,910,254.33	6,306,041.23	No	973,308.83
AVATR (Chongqing) Automobile Sales & Service Co., Ltd	Procurement of parts	1,269,407.08	2,548,184.93	No	61,949,625.77
Changan Ford Automobile Co., Ltd.	Accept labor	1,247,217.12	2,778,558.26	No	-
Ya'an Wanyou Auto Sales and Service Co., Ltd.	Accept labor	1,075,093.34	3,246,310.23	No	1,014,389.55
Chongqing Wanyou Xingjian Auto Sales & Service Co., Ltd.	Accept labor	1,034,919.72	2,601,495.41	No	810,225.03
Chengdu Wanyou Automobile Sales and Service Co., Ltd	Accept labor	937,608.29	2,558,212.92	No	826,173.26
Chenzhi (Chengdu) Intelligent Suspension Co., Ltd	Procurement of parts	579,769.55	1,644,152.77	No	303,637.08
Chongqing Wanyou Chengxing Automobile Sales and Service Co., Ltd	Accept labor	559,717.94	1,320,000.00	No	-
Nanyang Lida Optoelectronics Co., Ltd	Procurement of parts	482,340.66	652,566.85	No	-
Panzhihua Wanyou Auto Sales & Service Co., Ltd.	Accept labor	375,355.46	829,087.31	No	148,176.37
Chongqing Changxiang Supply Chain Technology Co., Ltd	Accept labor	268,899.07	678,505.91	No	-
Changan Mazda Automobile Co., Ltd	Accept labor	212,576.11	36,000.00	Yes	1,270,637.36
Chengdu Jialing Huaxi Optical & Precision Machinery Co., Ltd.	Procurement of parts	126,726.31	1,193,438.96	No	501,828.63
Luzhou Wanyou Automobile Service Co., Ltd.	Accept labor	122,798.52	773,578.75	No	208,109.30
Chongqing Wanyou Advertising Co.,Ltd.	Accept labor	88,650.00	180,000.00	No	-
Chongqing Dajiang Yuqiang Plastic Co., Ltd.	Procurement of parts	87,580.04	321,227.54	No	196,038.83
China Ordnance Equipment Group Commercial Factoring Co., Ltd	Accept labor	66,037.74	96,000.00	No	-

Related parties	Nature of the transaction	Current amount	Approved transaction amount	Whether it exceeds the transaction amount	Prior-period amount
Chongqing Southwest Inspection and Testing Co., Ltd	Accept labor	56,112.31	90,000.00	No	-
Nanjing LingHang Technology Co., Ltd.	Accept labor	51,413.41	43,200.00	Yes	33,388.14
Beijing Beiji Mechanical and Electrical Industry Co., Ltd.	Procurement of parts	24,494.80	232,339.15	No	55,471.89
China Ordnance Equipment Group Human Resources Development Center	Accept labor	20,783.02	26,366.04	No	5,377.35
Beijing Zhongbing Insurance Brokerage Co., Ltd.	Accept labor	20,505.30	54,000.00	No	179,456.11
Chengdu Wanyou Trading Co., Ltd	Accept labor	19,700.27	142,442.82	No	44,034.79
China Ordnance News Agency	Accept labor	12,311.32	28,718.48	No	18,555.76
Ald Fortune Auto Leasing & Renting (Shanghai) Co., Ltd.	Accept labor	11,151.69	25,387.34	No	-
Chongqing Wanyou Zunda Automobile Sales & Service Co., Ltd.	Procurement of parts	5,879.99	13,482.54	No	38,252.00
China Ordnance Equipment Group Automation Research Institute Co., Ltd	Accept labor	1,698.11	3,854.53	No	-
Changan Laisi (Chongqing) robot intelligent equipment Co., Ltd	Procurement of parts	-	-	No	1,756,066.31
Zhongqi Chuangzhi Technology Co., Ltd	Purchasing parts and accepting labor services	-	-	No	480,000.94
China Ordnance Equipment Group Commercial Factoring Co., Ltd	Accept labor	-	-	No	76,040.43
Nanjing Chelai Travel Technology Co., Ltd	Accept labor	-	-	No	15,222.66
Total:		16,916,874,982.66	62,209,113,874.82		14,118,319,574.90

Goods sold and services offered

In RMB Yuan

Related parties	Nature of the transaction	Current amount	Prior-period Amount
Avatr Technology (Chongqing) Co., Ltd.	Selling parts and providing labor services	1,885,583,221.76	966,811,840.03
Chongqing Wanyou Zunda Automobile Sales & Service Co., Ltd.	Selling parts	1,570,508,038.16	1,211,267,157.57
Chengdu Wanyou Xiangyu Auto Sales and Service Co., Ltd.	Selling vehicle parts and providing labor services	1,288,701,497.02	697,109,803.93
Chongqing Wanyou Economic Development Co., Ltd.	Selling vehicle parts and providing labor services	965,905,313.45	895,356,870.07
Yunnan Wanyou Auto Sales and Service Co., Ltd.	Selling vehicle parts and providing labor services	869,877,002.41	555,923,788.70
Guizhou Wanyou Auto Sales and Service Co., Ltd.	Selling vehicle parts and providing labor services	860,548,335.60	565,501,997.62

Related parties	Nature of the transaction	Current amount	Prior-period Amount
Chongqing Wanyou Zhicheng Automobile Sales and Service Co., Ltd	Selling complete vehicles	557,004,163.49	-
Jiangsu Wanyou Automobile Sales Service Co., Ltd.	Selling vehicle parts and providing labor services	534,796,227.54	314,630,817.93
Pakistan Master Automobile Co., Ltd.	Selling complete vehicles and components	218,606,093.69	109,372,901.50
Anhui Wanyou Automobile Sales Service Co., Ltd.	Selling vehicle parts and providing labor services	186,786,950.91	140,376,222.36
Changan Mazda Automobile Co., Ltd	Selling parts and providing labor services	166,764,218.31	7,133,803.72
Chongqing Fuji Supply Chain Management Co., Ltd	Selling complete vehicles	99,552,970.82	69,216,929.01
China Changan Automobile Group Tianjin Sales Co., Ltd.	Selling vehicle parts and providing labor services	93,391,397.85	131,130,406.12
Changan Automobile Financing Co., Ltd.	Providing labor services	42,002,363.94	174,835,059.92
Chengdu Wanyou Auto Trade Service Co., Ltd.	Selling vehicle parts and providing labor services	36,309,737.11	329,514,962.73
Chongqing Changan Kuayue Automobile Co., Ltd.	Selling parts and providing labor services	31,208,393.21	105,713,055.00
Wanyou Automobile Investment Co., Ltd.	Selling complete vehicles and providing labor services	27,888,149.01	291,309,672.29
Chongqing Anfu Automobile Co., Ltd.	Selling complete vehicles and components	19,682,566.45	29,676,902.67
Jiangling Holdings Co., Ltd.	Providing labor services	17,825,828.22	207,500.00
China South Industries Group Financial Leasing Co., Ltd.	Providing labor services	9,463,220.25	16,343,690.21
Changan Ford Automobile Co., Ltd.	Selling parts and providing labor services	3,987,960.57	2,017,778.68
Chongqing Wanyou Ducheng Auto Sales Service Co., Ltd.	Selling vehicle parts and providing labor services	3,013,592.37	2,029,066.92
Chengdu Wanyou Auto Sales and Service Co.,Ltd.	Selling vehicle parts and providing labor services	1,475,407.45	832,930.32
Chongqing Chang'an Intelligent Industrial Technology Service Co., Ltd	Providing labor services	1,105,193.12	-
Chongqing Wanyou Chengxing Automobile Sales and Service Co., Ltd	Selling parts and providing labor services	949,738.94	-
Ya'an Wanyou Auto Sales and Service Co., Ltd.	Selling vehicle parts and providing labor services	924,928.43	1,523,835.89
Chongqing Wanyou Xingjian Auto Sales & Service Co., Ltd.	Selling vehicle parts and providing labor services	919,302.67	914,070.23
Beijing North Changfu Automobile Sales Co., Ltd	Selling complete vehicles and providing labor services	895,852.60	-
China South Industry Group Finance Co., Ltd.	Providing labor services	747,706.78	667,592.00
Harbin Dongan Auto Engine Co., Ltd.	Selling goods	745,500.00	-
Panzhihua Wanyou Auto Sales & Service Co., Ltd.	Selling complete vehicles and components	565,261.39	329,795.23
Chongqing Changan Minsheng Logistics Co., Ltd.	Selling parts and providing labor services	439,453.69	1,389,240.00
Chongqing Tsingshan Industrial Co., Ltd.	Providing labor services	264,150.94	470,541.17
Beijing Zhongbing Insurance Brokerage Co., Ltd	Providing labor services	228,379.97	-

Related parties	Nature of the transaction	Current amount	Prior-period Amount
Chongqing Changan Kuayue Automobile Sales Co., Ltd.	Selling parts	172,047.23	129,155.26
China Ordnance Equipment Group Commercial Factoring Co., Ltd	Providing labor services	141,509.43	-
Chengdu Wanyou Trading Co., Ltd.	Selling complete vehicles and components	136,003.77	95,348.42
Nanjing LingHang Technology Co., Ltd.	Providing labor services	129,618.84	850,308.10
Times Changan Power Battery Co.,Ltd.	Providing labor services	112,400.00	-
Dali Wanfu Automobile Sales and Service Co., Ltd	Selling parts	108,186.19	11,752.21
Chenzhi Technology Co., Ltd	Providing labor services	108,018.87	-
Hubei Huazhong Changjiang Optoelectronics Technology Co., Ltd	Providing labor services	84,905.66	-
Sichuan Jian'an Industry Co., Ltd	Providing labor services	73,962.26	-
Chongqing Dajiang Guoli Precision Machinery Manufacturing Co., Ltd.	Providing labor services	62,135.77	5,757,279.81
Luzhou Wanyou Automobile Service Co., Ltd.	Selling complete vehicles and components	54,476.22	592,242.82
Chongqing Shangfang Automotive Parts Co., Ltd	Selling goods	22,373.31	-
China Ordnance Equipment Group Human Resources Development Center	Providing labor services	12,452.83	-
Chenzhi (Chongqing) Brake System Co., Ltd	Providing labor services	9,433.96	-
Hubei Xiaogan Huazhong Car Lamp Co., Ltd	Providing labor services	9,433.96	-
Avatr (Chongqing) Automobile Sales & Service Co., Ltd	Providing labor services	3,886.80	660.38
Chongqing Lingchuan Auto Parts Manufacturing Technology Co., Ltd.	Providing labor services	2,588.62	765,342.53
Chongqing Nexteer Steering System Co.,Ltd.	Selling parts	-	5,921,500.00
United Automotive Electronics (Chongqing) Co., Ltd	Selling parts	-	4,577,309.74
Harbin Dongan Automotive Engine Manufacturing Co., Ltd.	Selling parts	-	1,993,518.61
Tiannak Lingchuan (Chongqing) exhaust system Co., Ltd	Selling parts	-	937,224.65
China Changan Automobile Group Hefei Investment Co., Ltd.	Selling complete vehicles	-	201,106.20
Hunan Tianyan Machinery Co., Ltd	Providing labor services	-	169,811.32
Chengdu Huachuan Electric Equipment Co., Ltd.	Selling complete vehicles and providing labor services	-	99,293.70
Ald Fortune Auto Leasing & Renting (Shanghai) Co., Ltd.	Providing labor services	-	91,754.87
China Changan Automobile Group Co., Ltd	Providing labor services	-	23,760.00
Chongqing Jianshe Automobile Air-conditioner Co., Ltd.	Selling parts	-	7,964.60
China South Industries Group Commercial Factoring Co., Ltd.	Provide services	-	5,913.36

Related parties	Nature of the transaction	Current amount	Prior-period Amount
Hubei Huazhong Marelli Automotive Lighting Co., Ltd	Selling goods	-	1,313.00
Chongqing Wutong Chelian Technology Co., Ltd	Selling goods	-	271.68
Zhongqi Chuangzhi Technology Co., Ltd	Selling goods	-	0.94
Total:		9,499,911,551.84	6,643,841,064.02

(2) Related-party leasing

Rent assets to related parties

In RMB Yuan

Lessee	Type of leased assets	Report period Amount	Same period of last period Amount
Ald Fortune Auto Leasing & Renting (Shanghai) Co., Ltd.	Vehicle	8,597,721.53	22,935,079.52
Chongqing Changan Minsheng Logistics Co. Ltd.	Building and land	575,019.02	348,266.98
Chongqing Wanyou Economic Development Co., Ltd.	Building and land	337,155.96	321,100.92
Avatr Technology (Chongqing) Co., Ltd.	Vehicle	145,119.12	-
Chongqing Changan industry (Group) Co., Ltd	Building	-	3,283,373.71
Nanjing LingHang Technology Co., Ltd.	Vehicle	-	2,624,149.56
Southern Inter Air Conditioning Co., Ltd	Vehicle	-	48,849.56
Chongqing Changan Real Estate Development Co., Ltd	Vehicle	-	24,424.78
Total		9,655,015.63	29,585,245.03

Rent assets from related parties

In RMB Yuan

Lessor	Type of leased assets	Simplified rental fees for short-term leases and low value asset leases		Variable lease payments not included in the measurement of lease liabilities		Rent paid		Interest expenses on lease liabilities assumed		Increased usage rights assets
		Report period Amount	Same period of last period Amount	Report period Amount	Same period of last period Amount	Report period Amount	Same period of last period Amount	Report period Amount	Same period of last period Amount	Report period Amount	Same period of last period Amount
Chongqing Changan Minsheng Logistics Co. Ltd.	Warehouse	13,594,921.94	8,133,557.01			9,212,947.56	8,133,557.01
Chongqing Wanyou Zhicheng Automobile Sales and Service Co., Ltd	Vehicle	88,650.00	-			-	-
Chongqing Changan Property Management Co., Ltd	Land	-	2,977,660.00			-	2,977,660.00
Total		13,683,571.94	11,111,217.01			9,212,947.56	11,111,217.01

(3) Other related transactions

Integrated service charges

In RMB Yuan

Related parties

Nature of the transaction

Report period Amount

Same period of last period Amount

Chongqing Chang'an Industrial(Group) Co., Ltd

Chongqing Chang'an Industrial (Group) Co., Ltd	Pay Electricity fee	36,939,118.17	37,806,926.34
Total		36,939,118.17	37,806,926.34

Purchase of project materials

In RMB Yuan

Related parties

Report period Amount

Same period of last period Amount

Chongqing Changan Intelligent Industrial Technology ServiceCo., Ltd

Chongqing Changan Intelligent Industrial Technology Service Co., Ltd

-

2,743,362.86

Total

Total

-

2,743,362.86

Staff expenses for technical supporting

In RMB Yuan

Related parties

Report period Amount

Same period of last period Amount

Changan Mazda Automobile Co., Ltd

Changan Mazda Automobile Co., Ltd	14,208,018.59	9,131,656.92
Changan Ford Automobile Co., Ltd	6,985,634.92	5,605,674.97
Changan Mazda Engine Co., Ltd.	6,670,928.95	6,703,950.04

Changan Ford New Energy Vehicle Co., Ltd.

Changan Ford New Energy Vehicle Co., Ltd.	3,808,404.04	-
Chongqing Changan Crossing Vehicle Co., Ltd	1,561,751.27	1,212,194.63
Jiangling Automobile Co., Ltd	1,029,577.45	826,370.83
Chongqing Chang'an Minsheng Logistics Co., Ltd	557,728.26	-

Chongqing WutongChelian Technology Co., Ltd

Chongqing WutongChelian Technology Co., Ltd	550,738.60	208,063.02
Time FAW Power Battery Co., Ltd	450,000.00	-

Chongqing Anda Semiconductor Co., Ltd

Chongqing Anda Semiconductor Co., Ltd	291,666.67	-
Jiangling Holdings Limited	81,058.58	7,343,774.35

Avatr Technology (Chongqing) Co., Ltd

Avatr Technology (Chongqing) Co., Ltd	-	682,780.43
China Changan Automobile Group Co., Ltd	-	169,811.32
Chongqing Shangshang Automotive Parts Co., Ltd	-	37,002.00
Chongqing Construction Transmission Technology Co., Ltd	-	27,872.04

Chongqing Naishite Steering System Co., Ltd

Chongqing Naishite Steering System Co., Ltd

-

18,026.66

Chongqing Dajiang National Precision MachineryManufacturing Co., Ltd

Chongqing Dajiang National Precision Machinery Manufacturing Co., Ltd	-	2,520.00
Total	36,195,507.33	31,969,697.21

Techonology development service charges

In RMB Yuan

Related parties

Report period Amount

Same period of last period Amount

Jiangling Automobile Co., Ltd

Jiangling Automobile Co., Ltd

54,439,370.43

-

Changan Mazda Automobile Co., Ltd

Changan Mazda Automobile Co., Ltd	9,055,248.00	397,572.54
Chongqing Tsingshan Industrial Co., Ltd.	4,277,407.02	10,144,721.22
Changan Ford Automobile Co., Ltd	2,153,000.00	-

Chongqing Changxian Intelligent Technology Co., Ltd

Chongqing Changxian Intelligent Technology Co., Ltd

571,900.50

-

Western Car Network (Chongqing) Co., Ltd

Western Car Network (Chongqing) Co., Ltd	297,054.72	-
Chongqing wutong Chelian Technology Co., Ltd	126,450.47	-
Sichuan Ningjiang Shanchuan Machinery Co., Ltd	122,641.51	-

Total

Total

71,043,072.65

10,542,293.76

Collection of trademark use rights fees

In RMB Yuan

Related parties

Report period Amount

Same period of last period Amount

Chongqing Changan Kuayue Automobile Co., Ltd.

Chongqing Changan Kuayue Automobile Co., Ltd.

4,477,600.00

6,009,433.96

Related party monetary funds

In RMB Yuan

Related parties	Ending Amount	Beginning Amount
China South Industries Group Finance Co., Ltd	19,949,896,329.93	19,926,021,247.02
Changan Automobile Finance Co., Ltd	14,990,000,000.00	14,990,000,000.00
Total	34,939,896,329.93	34,916,021,247.02

First half of 2024, the annual interest rate of deposits deposited with related parties is 0.2% - 3.5%, and the term is 0-36 months.

Borrowing

Long-term borrowing

In RMB Yuan

Related parties	Ending Amount	Beginning Amount
China South Industries Group Finance Co., Ltd	76,000,000.00	76,000,000.00
Total	76,000,000.00	76,000,000.00

Interest income of deferred payment

In RMB Yuan

Related parties

Report period Amount

Same period of last period Amount

Jiangsu Wanyou Automobile Sales Service Co., Ltd

Jiangsu Wanyou Automobile Sales Service Co., Ltd	88,348.67	1,380.53
Chongqing Wanyou Economic Development Co., Ltd	72,585.96	-

Guizhou Wanyou Automobile Sales and Service Co.,Ltd

Guizhou Wanyou Automobile Sales and Service Co., Ltd

53,243.80

-

Chengdu Wanyou Xiangyu Automobile Sales and Service Co., Ltd

41,558.41

-

Anhui Wanyou Automobile Sales and Service Co.,Ltd

Anhui Wanyou Automobile Sales and Service Co., Ltd	29,850.44	-
Chengdu Wanyou Auto Trade Service Co., Ltd	21,363.77	-
Chengdu Lingchuan Automotive Fuel Tank Co., Ltd	17,969.51	-

Yunnan Wanyou Automobile Sales and Service Co.,Ltd

Yunnan Wanyou Automobile Sales and Service Co., Ltd	10,661.28	-
Wanyou Automobile Investment Co., Ltd	4,141.59	-
Total	339,723.43	1,380.53

6. Payment and receivables of related parties

(1) Payment receivables of related listed companies

In RMB Yuan

Items	Related parties	Ending balance	Beginning balance
Notes receivable	Wanyou Automobile Investment Co., Ltd.	2,547,150,000.00	2,618,900,000.00
Notes receivable	Avatr Technology (Chongqing) Co., Ltd.	1,502,804,705.57	1,162,667,212.07
Notes receivable	Chongqing Changan Kuayue Automobile Sales Co., Ltd.	18,770,000.00	-
Notes receivable	Yunnan Wanyou Auto Sales and Service Co., Ltd.	15,000,000.00	46,000,000.00
Notes receivable	Chongqing Wanyou Economic Development Co., Ltd.	13,000,000.00	31,000,000.00
Notes receivable	Chengdu Wanyou Auto Trade Service Co., Ltd.	11,200,000.00	22,500,000.00
Notes receivable	Chongqing Tsingshan Industrial Co., Ltd.	7,545,451.11	48,163,692.11
Notes receivable	Guizhou Wanyou Auto Sales and Service Co., Ltd.	3,280,000.00	14,200,000.00
Notes receivable	Chongqing Fuji Supply Chain Management Co., Ltd	-	70,015,971.00
Notes receivable	Chongqing Changan Kuayue Vehicle Co., Ltd	-	37,033,400.00
Notes receivable	Harbin Dongan Automotive Engine Manufacturing Co., Ltd.	-	272,292.05
Subtotal		4,118,750,156.68	4,050,752,567.23
Account receivable	Avatr Technology (Chongqing) Co., Ltd.	548,405,543.30	674,602,846.19
Account receivable	Changan Mazda Automobile Co., Ltd	263,911,957.50	177,061,948.01
Account receivable	Pakistan Master Automobile Co., Ltd.	36,464,365.66	16,553,872.36
Account receivable	Chongqing Changan Kuayue Vehicle Co., Ltd	16,298,457.21	23,099,903.46
Account receivable	Changan Mazda Engine Co., Ltd.	7,032,000.00	15,886,858.18

Account receivable	Changan Ford Automobile Co., Ltd.	4,435,896.87	9,976,923.10
Account receivable	Jiangling Holdings Co., Ltd.	2,947,212.54	9,791,503.74
Account receivable	Changan Auto Finance Co., Ltd.	2,599,736.68	21,019,909.48
Account receivable	Changan Ford New Energy Vehicle Co., Ltd.	1,607,364.58	-
Account receivable	Ald Fortune Auto Leasing & Renting (Shanghai) Co., Ltd.	853,200.00	4,300,560.00
Account receivable	Chongqing Changan Minsheng Logistics Co. Ltd.	615,597.74	3,269,852.16
Account receivable	Chongqing Changxian Intelligent Technology Co., Ltd	606,214.53	-
Account receivable	Nanjing LingHang Technology Co., Ltd.	458,959.44	321,563.47
Account receivable	China South Industries Group Financial Leasing Co., Ltd.	411,813.47	5,186,975.56
Account receivable	Western Car Network (Chongqing) Co., Ltd	314,878.00	-
Account receivable	Chongqing Anda Semiconductor Co., Ltd	309,166.67	-
Account receivable	Chongqing Changan industry (Group) Co., Ltd	192,632.17	7,139,838.45
Account receivable	Chengdu Wanyou Xiangyu Automobile Sales and Service Co., Ltd	159,900.00	368
Account receivable	Chengdu Wanyou Auto Trade Service Co., Ltd.	135,900.00	-
Account receivable	Chongqing wutong Chelian Technology Co., Ltd	134,037.50	1,210,700.00
Account receivable	Times Changan Power Battery Co.,Ltd.	119,144.00	-
Account receivable	Chenzhi Technology Co., Ltd	114,500.00	-
Account receivable	Chongqing Changan Kuayue Automobile Sales Co., Ltd.	51,407.64	26,019.30
Account receivable	Chongqing Tsingshan Industrial Co., Ltd.	40,000.00	-
Account receivable	Anhui Wanyou Automobile Sales and Service Co., Ltd	39,265.70	-
Account receivable	China Changan Automobile Group Tianjin Sales Co., Ltd.	31,380.00	-
Account receivable	Chengdu Lingchuan Automotive Fuel Tank Co., Ltd	2,743.94	-
Account receivable	Chongqing Fuji Supply Chain Management Co., Ltd	-	13,934,855.12
Account receivable	Jiangsu Wanyou Automobile Sales Service Co., Ltd	-	6,117,845.18
Account receivable	Chenzhi (Chengdu) Intelligent Suspension Co., Ltd		497,845.97
Account receivable	Chongqing Anfu Automobile Marketing Co., Ltd	-	278,200.00
Account receivable	Yunnan Wanyou Auto Sales and Service Co., Ltd.		121,200.00

Subtotal		888,293,275.14	990,399,587.73
Other receivable	Chongqing Changan Innovation Private Equity Investment Fund Partnership Enterprise (Limited Partnership)	68,253,846.00	-
Other receivable	Chongqing Changxin Zhiqi Private Equity Investment Fund Partnership (Limited Partnership)	25,500,000.00	25,500,000.00
Other receivable	Chongqing Changan Kuayue Vehicle Co., Ltd	3,430,000.00	-
Other receivable	China South Industry Group Finance Co., Ltd.	200,118.29	-
Other receivable	Chongqing Changan Minsheng Logistics Co. Ltd.	84.97	-
Other receivable	Chongqing Changyu Private Equity Investment Fund Partnership Enterprise (Limited Partnership)	-	69,600,000.00
Other receivable	Jiangling Holdings Co., Ltd.	-	70
Subtotal		97,384,049.26	95,100,070.00
Advanced payment	Harbin Dongan Auto Engine Co., Ltd.	842,415.00	-
Advanced payment	Beijing Zhongbing Insurance Brokerage Co., Ltd	242,082.77	-
Advanced payment	Chongqing Wanyou Economic Development Co., Ltd.	192,590.00	-
Advanced payment	Chongqing Shangfang Automotive Parts Co., Ltd	25,281.84	-
Advanced payment	China Ordnance Equipment Group Human Resources Development Center	13,200.00	-
Advanced payment	Chongqing Wanyou Zunda Automobile Sales and Service Co., Ltd	5,862.00	-
Subtotal		1,321,431.61	-

(2) Accounts payable to related parties of listed companies

In RMB Yuan

Items	Related parties	Ending balance	Beginning balance
Notes payable	Jiangling Holdings Co., Ltd.	2,136,874,765.21	1,047,608,994.41
Notes payable	Chongqing Tsingshan Industrial Co., Ltd.	1,690,409,282.84	1,723,679,349.53
Notes payable	Chongqing Changan Minsheng Logistics Co. Ltd.	404,421,728.79	443,503,065.10
Notes payable	Chongqing Nexteer Steering System Co.,Ltd.	344,128,811.22	403,879,297.14
Notes payable	Chongqing Dajiang Tongyang Plastics Co., Ltd.	308,929,970.11	241,360,000.00
Notes payable	Times Changan Power Battery Co.,Ltd.	267,263,260.05	-
Notes payable	Harbin Dongan Automotive Engine Manufacturing Co., Ltd.	261,190,000.00	234,620,000.00
Notes payable	South Inter Air-conditioner Co.,Ltd.	218,167,370.68	243,848,518.33
Notes payable	Dajiang Yapp Automotive Systems Co., Ltd.	186,280,711.23	215,540,000.00
Notes payable	Sichuan Ningjiang Shanchuan Machinery Co, Ltd.	173,433,371.73	80,902,422.85
Notes payable	Harbin Dongan Auto Engine Co., Ltd.	170,000,000.00	11,090,000.00
Notes payable	Hubei Huazhong Marelli Automobile Lighting Co., Ltd.	140,210,000.00	122,400,000.00
Notes payable	CDGM Tanaka Environmental Catalyst Co.,Ltd.	127,320,711.30	102,880,000.00

Notes payable	GKN HUAYU Driveline Systems (Chongqing) Co., Ltd	120,250,754.61	122,855,842.38
Notes payable	CSM Faurecia Automotive Parts Co., Ltd.	116,296,520.81	107,251,528.51
Notes payable	Chongqing Lingchuan Auto Parts Manufacturing Technology Co., Ltd.	79,480,000.00	113,510,000.00
Notes payable	Hunan Tianyan Machinery Co., Ltd	73,850,000.00	-
Notes payable	Chenzhi (Chongqing) Brake System Co., Ltd	67,903,664.67	73,980,457.72
Notes payable	Tiannak Lingchuan (Chongqing) exhaust system Co., Ltd	61,790,000.00	44,930,000.00
Notes payable	Hubei Xiaogan Huazhong Automobile Light Co., Ltd.	52,210,327.25	35,788,907.01
Notes payable	Chongqing Shangfang Automobile Fittings Co., Ltd.	46,353,548.24	41,023,156.32
Notes payable	Chongqing Jianshe Automobile Air-conditioner Co., Ltd.	41,810,000.00	14,260,000.00
Notes payable	Chongqing Hanon Jianshe Automotive Thermal Systems Co., Ltd.	40,310,000.00	77,160,000.00
Notes payable	Chongqing Yihong Engineering Plastic Products Co., Ltd.	29,944,335.73	26,870,000.00
Notes payable	Chengdu Wanyou Filter Co., Ltd.	21,370,000.00	51,120,000.00
Notes payable	Sichuan Jian'an Industrial Co.,Ltd.	15,820,000.00	4,757,300.00
Notes payable	Chongqing Construction Tongda Industrial Co., Ltd.	15,796,711.86	15,579,467.79
Notes payable	China South Industry Group Finance Co., Ltd.	12,450,000.00	-
Notes payable	Chongqing Changrong Machinery Co., Ltd.	9,640,073.64	5,667,059.25
Notes payable	Chengdu Lingchuan Vehicle Oil Tank Co., Ltd.	9,520,000.00	2,640,000.00
Notes payable	Southwest Ordnance Industry Chongqing Environmental Protection Research Institute Co., Ltd.	9,074,966.47	10,355,405.72
Notes payable	Chengdu Huachuan Electric Equipment Co., Ltd.	8,520,000.00	-
Notes payable	Longchang Shanchuan Precision Welded Tube Co., Ltd.	6,960,000.00	6,670,000.00
Notes payable	Chongqing Dajiang Jiexin Forging Co., Ltd.	2,990,000.00	340,000.00
Notes payable	Chongqing Changan Intelligent Industrial Technology Service Co., Ltd	1,427,604.24	-
Notes payable	Chongqing Qingshan Transmission Sales Co., Ltd.	30,000.00	-
Notes payable	Hunan Tianyan Machinery Co., Ltd.	-	97,750,000.00
Subtotal		7,272,428,490.68	5,723,820,772.06
Account payable	Jiangling Holdings Co., Ltd.	1,797,280,504.24	1,354,996,530.62
Account payable	Chongqing Tsingshan Industrial Co., Ltd.	882,955,222.20	1,161,486,369.43
Account payable	Chongqing Nexteer Steering System Co.,Ltd.	369,590,620.19	460,868,914.97
Account payable	Chenzhi (Chongqing) Brake System Co., Ltd	179,516,185.64	146,361,112.11
Account payable	Hubei Huazhong Marelli Automobile Lighting Co., Ltd.	158,141,385.62	304,497,612.19
Account payable	Dajiang Yapp Automotive Systems Co., Ltd.	145,416,430.04	188,849,804.56
Account payable	South Inter Air-conditioner Co.,Ltd.	140,937,227.43	218,167,579.17
Account payable	Chongqing Dajiang Tongyang Plastics Co., Ltd.	129,292,020.43	160,704,720.85
Account payable	Sichuan Jian'an Industrial Co.,Ltd.	124,200,216.89	209,471,637.23

Account payable	Harbin Dongan Automotive Engine Manufacturing Co., Ltd.	120,799,931.15	112,601,705.64
Account payable	Chongqing Dajiang Guoli Precision Machinery Manufacturing Co., Ltd.	115,836,205.55	80,230,007.07
Account payable	CDGM Tanaka Environmental Catalyst Co.,Ltd.	97,688,910.97	288,969,832.65
Account payable	Lear Changan (Chongqing) Automotive System Co., Ltd	93,683,471.39	41,271.92
Account payable	CSM Faurecia Automotive Parts Co., Ltd.	92,039,586.13	133,412,554.27
Account payable	Harbin Dongan Auto Engine Co., Ltd.	82,578,904.46	82,269,854.10
Account payable	United Automotive Electronics (Chongqing) Co., Ltd	63,495,236.60	175,204,866.08
Account payable	GKN HUAYU Driveline Systems (Chongqing) Co., Ltd	62,988,650.63	131,979,852.57
Account payable	Chengdu Huachuan Electric Equipment Co., Ltd.	56,306,690.89	133,533,197.37
Account payable	Hunan Tianyan Machinery Co., Ltd	52,385,063.07	62,751,647.18
Account payable	Chongqing Changrong Machinery Co., Ltd.	46,306,272.20	53,190,098.24
Account payable	Sichuan Ningjiang Shanchuan Machinery Co, Ltd.	39,620,939.17	217,032,427.38
Account payable	Chongqing Jianshe Automobile Air-conditioner Co., Ltd.	37,332,675.88	15,466,830.30
Account payable	Hubei Xiaogan Huazhong Automobile Light Co., Ltd.	36,104,638.63	30,315,072.22
Account payable	Chongqing Lingchuan Auto Parts Manufacturing Technology Co., Ltd.	34,870,845.88	44,644,512.83
Account payable	Chongqing Changan Minsheng Logistics Co. Ltd.	27,430,966.56	12,682,710.95
Account payable	Chongqing Shangfang Automobile Fittings Co., Ltd.	27,039,767.01	32,922,573.42
Account payable	Chengdu Wanyou Filter Co., Ltd.	21,626,491.55	23,915,398.04
Account payable	Construction Industry Group (Yunnan) Co., Ltd	20,984,974.87	327,412.94
Account payable	Chongqing Hanon Jianshe Automotive Thermal Systems Co., Ltd.	20,123,010.47	5,633,908.16
Account payable	Chengdu Lingchuan Vehicle Oil Tank Co., Ltd.	16,119,198.40	18,306,736.20
Account payable	Chongqing Construction Tongda Industrial Co., Ltd.	16,079,337.46	21,293,902.87
Account payable	Tiannak Lingchuan (Chongqing) exhaust system Co., Ltd	11,730,407.33	93,157.04
Account payable	Chongqing Wanyou Economic Development Co., Ltd.	5,049,141.72	7,393,900.62
Account payable	Chongqing Qingshan Transmission Sales Co., Ltd.	4,933,395.59	11,834,165.78
Account payable	Chongqing Yihong Engineering Plastic Products Co., Ltd.	4,823,040.79	22,446,756.72
Account payable	Chongqing Dajiang Jiexin Forging Co., Ltd.	4,650,255.00	421,518.30

Account payable	Beijing Wutong Chelian Technology Co., Ltd.	4,582,954.79	1,781,815.70
Account payable	Longchang Shanchuan Precision Welded Tube Co., Ltd.	3,062,086.17	4,292,608.83
Account payable	China Changan Automobile Group Co., Ltd.	1,954,952.24	1,040,003.18
Account payable	Chongqing Changan Intelligent Industrial Technology Service Co., Ltd	1,443,978.00	1,443,978.00
Account payable	AVATR (Chongqing) Automobile Sales & Service Co., Ltd	1,100,769.80	587,070.80
Account payable	Chenzhi (Chengdu) Intelligent Suspension Co., Ltd	779,332.12	1,220,521.72
Account payable	Avatr Technology (Chongqing) Co., Ltd	643,755.00	914,385.00
Account payable	Chongqing Changxian Intelligent Technology Co., Ltd	558,742.05	-
Account payable	Nanyang Lida Optoelectronics Co., Ltd	545,044.95	-
Account payable	Chongqing Wutong Chelian Technology Co., Ltd	311,014.83	3,636,473.60
Account payable	Chongqing Changan industry (Group) Co., Ltd	154,239.51	601,675.65
Account payable	Chengdu Jialing Huaxi Optical & Precision Machinery Co., Ltd.	139,598.40	242,083.74
Account payable	Chongqing Jialing Yimin Special Equipment Co., Ltd.	104,496.50	104,496.50
Account payable	Times Changan Power Battery Co.,Ltd.	99,460.00	95,181,872.65
Account payable	Chongqing Jianshe Mechanical & Electrical Equipment Co., Ltd.	94,531.82	47,265.91
Account payable	Chongqing Construction Industry (Group) Co., Ltd	90,189.67	575,587.79
Account payable	Chongqing Xiyi automobile connecting rod Co., Ltd	38,422.14	38,422.14
Account payable	Chongqing Changan Property Management Co., Ltd.	12,402.00	-
Account payable	Hangzhou Chelizi Intelligent Technology Co., Ltd.	12,350.00	12,350.00
Account payable	Ald Fortune Auto Leasing & Renting (Shanghai) Co., Ltd.	11,820.79	32,771.36
Account payable	Chongqing Dajiang Yuqiang Plastic Co., Ltd.	7,068.48	3,588,068.59
Account payable	Hafei Automobile Co., Ltd	344.04	344.04
Account payable	Beijing Beiji Mechanical and Electrical Industry Co., Ltd.	-	141,911.64
Account payable	Chengdu Lingchuan Special Industry Co., Ltd.	-	101,585.16
Account payable	Chongqing Wanyou Xingjian Auto Sales & Service Co., Ltd.	-	20,842.80
Subtotal		5,155,705,375.33	6,039,926,286.79
Contract liabilities	Chengdu Wanyou Xiangyu Auto Sales and Service Co., Ltd.	124,978,443.85	110,584,225.04

Contract liabilities	Jiangsu Wanyou Automobile Sales Service Co., Ltd.	69,459,070.92	26,589,072.67
Contract liabilities	Chongqing Wanyou Economic Development Co., Ltd.	54,366,075.62	62,975,674.47
Contract liabilities	Guizhou Wanyou Auto Sales and Service Co., Ltd.	35,493,993.56	68,070,242.12
Contract liabilities	Anhui Wanyou Automobile Sales Service Co., Ltd.	26,674,923.57	9,994,433.27
Contract liabilities	Yunnan Wanyou Auto Sales and Service Co., Ltd.	22,211,744.68	55,836,423.36
Contract liabilities	Wanyou Automobile Investment Co., Ltd.	17,659,822.55	23,183,182.96
Contract liabilities	China Changan Automobile Group Tianjin Sales Co., Ltd.	7,981,217.13	8,118,237.92
Contract liabilities	Pakistan Master Automobile Co., Ltd.	7,326,740.89	6,452,463.66
Contract liabilities	Nanchang Jiangling Group Tianren Auto Parts Co., Ltd	6,854,200.00	-
Contract liabilities	Chongqing Fuji Supply Chain Management Co., Ltd	6,467,467.30	-
Contract liabilities	Chengdu Wanyou Auto Trade Service Co., Ltd.	5,853,128.95	16,498,448.61
Contract liabilities	Changan Mazda Engine Co., Ltd.	3,256,185.92	-
Contract liabilities	Ordnance Equipment Research Institute of China Ordnance Equipment Group	759,366.75	-
Contract liabilities	Changan Automobile Finance Co., Ltd	685,200.00	606,371.68
Contract liabilities	Hafei Automobile Co., Ltd	471,942.49	417,648.22
Contract liabilities	Chengdu Wanyou Auto Sales and Service Co.,Ltd.	275,094.97	345,372.38
Contract liabilities	Chongqing Changan Minsheng Logistics Co. Ltd.	202,904.23	271,047.12
Contract liabilities	Chongqing Anfu Automobile Co., Ltd.	178,600.00	-
Contract liabilities	Chongqing Wanyou Ducheng Auto Sales Service Co., Ltd.	91,336.65	207,654.20
Contract liabilities	Dali Wanfu Automobile Sales and Service Co., Ltd	45,130.22	46,416.87
Contract liabilities	Beijing North Changfu Automobile Sales Co., Ltd	10,000.00	-
Contract liabilities	Chongqing Shangfang Automobile Fittings Co., Ltd.	3,980.00	3,522.12
Contract liabilities	Luzhou Wanyou Automobile Service Co., Ltd.	121	54,775.96
Contract liabilities	Chongqing Wanyou Zunda Automobile Sales & Service Co., Ltd.	-	89,057,725.73
Contract liabilities	Chongqing Wanyou Zhicheng Automobile Sales and Service Co., Ltd	-	9,803,782.94
Contract liabilities	Avatr Technology (Chongqing) Co., Ltd	-	970,882.61
Contract liabilities	Ya'an Wanyou Auto Sales and Service Co., Ltd.	-	112,302.96

Contract liabilities	Chongqing Wanyou Xingjian Auto Sales & Service Co., Ltd.	-	66,275.60
Contract liabilities	Bazhong Wanyou Auto Sales & Service Co., Ltd.	-	44,625.20
Contract liabilities	Panzhihua Wanyou Auto Sales & Service Co., Ltd.	-	32,689.44
Contract liabilities	Chengdu Wanyou Trading Co., Ltd.	-	15,049.38
Contract liabilities	China Changan Automobile Group Hefei Investment Co., Ltd.	-	9,091.15
Contract liabilities	Yunnan Wanxing Auto Sales Service Co., Ltd.	-	87.61
Contract liabilities	Changan Ford Automobile Co., Ltd.	-	0.32
Subtotal		391,306,691.25	490,367,725.57
Other payables	Chongqing Changan Minsheng Logistics Co. Ltd.	647,744,953.55	500,998,344.99
Other payables	Hafei Automobile Co., Ltd	66,824,300.00	-
Other payables	China Changan Automobile Group Co., Ltd.	9,825,445.99	-
Other payables	Chongqing Tsingshan Industrial Co., Ltd.	9,240,873.90	18,225,258.51
Other payables	Chongqing Changan Construction Co., Ltd.	7,762,873.49	7,120,158.39
Other payables	Changan Reis (Chongqing) Robotic Intelligent Equipment Co., Ltd.	7,439,420.93	7,439,420.93
Other payables	Ald Fortune Auto Leasing & Renting (Shanghai) Co., Ltd.	7,088,464.83	10,098,882.10
Other payables	Chongqing Dajiang Guoli Precision Machinery Manufacturing Co., Ltd.	6,015,690.35	99,087.65
Other payables	Southwest Ordnance Industry Chongqing Environmental Protection Research Institute Co., Ltd.	5,544,649.34	6,567,229.16
Other payables	Chongqing Wanyou Talent Service Co., Ltd	5,428,594.36	-
Other payables	Chongqing Changan Property Management Co., Ltd.	4,167,170.61	4,291,910.22
Other payables	Chongqing Wanyou Economic Development Co., Ltd.	4,097,100.00	9,733,185.00
Other payables	China Changan Automobile Group Tianjin Sales Co., Ltd.	3,861,800.00	4,967,547.10
Other payables	Jiangsu Wanyou Automobile Sales Service Co., Ltd.	3,632,500.00	12,433,698.10
Other payables	Hubei Huazhong Marelli Automobile Lighting Co., Ltd.	3,085,295.00	411,875.16
Other payables	Chongqing Changan Intelligent Industrial Technology Service Co., Ltd	2,789,214.26	4,000,701.62
Other payables	Yunnan Wanyou Auto Sales and Service Co., Ltd.	2,723,100.00	7,847,297.00
Other payables	Times Changan Power Battery Co.,Ltd.	2,181,917.60	-
Other payables	Sichuan Jian'an Industrial Co.,Ltd.	2,124,179.80	1,670,420.64

Other payables	South Inter Air-conditioner Co.,Ltd.	1,703,953.02	3,885,605.94
Other payables	CSM Faurecia Automotive Parts Co., Ltd.	1,408,964.50	2,292,829.98
Other payables	Chenzhi (Chongqing) Brake System Co., Ltd	1,192,027.46	81,873.02
Other payables	Chengdu Wanyou Auto Trade Service Co., Ltd.	983,340.00	2,041,261.84
Other payables	Guizhou Wanyou Auto Sales and Service Co., Ltd.	803,436.32	4,854,300.00
Other payables	Chongqing Changan industry (Group) Co., Ltd	791,056.30	875,856.10
Other payables	Chengdu Wanyou Xiangyu Auto Sales and Service Co., Ltd.	634,500.00	9,558,725.84
Other payables	Anhui Wanyou Automobile Sales Service Co., Ltd.	627,800.00	938,180.00
Other payables	Jiangling Holdings Co., Ltd.	487,269.56	-
Other payables	Chongqing Southwest Inspection and Testing Co., Ltd	348,157.54	-
Other payables	Changan Ford Automobile Co., Ltd.	315,404.16	752,549.61
Other payables	Avatr Technology (Chongqing) Co., Ltd	232,238.36	-
Other payables	Chongqing Wanyou Xingjian Auto Sales & Service Co., Ltd.	200,000.00	441,740.00
Other payables	Ya'an Wanyou Auto Sales and Service Co., Ltd.	163,900.00	2,100,513.14
Other payables	Dajiang Yapp Automotive Systems Co., Ltd.	156,286.40	17,514.74
Other payables	Chongqing Wanyou Ducheng Auto Sales Service Co., Ltd.	136,100.00	737,780.00
Other payables	Chengdu Wanyou Filter Co., Ltd.	120,000.00	939,532.50
Other payables	Chengdu Wanyou Auto Sales and Service Co.,Ltd.	120,000.00	3,200,000.00
Other payables	Chenzhi Technology Co., Ltd	107,350.00	-
Other payables	Sichuan Ningjiang Shanchuan Machinery Co, Ltd.	104,511.20	84,283.54
Other payables	Chongqing Wanyou Zhicheng Automobile Sales and Service Co., Ltd	100,174.50	-
Other payables	GKN HUAYU Driveline Systems (Chongqing) Co., Ltd	68,873.50	89,598.75
Other payables	Chengdu Huachuan Electric Equipment Co., Ltd.	65,356.32	237,375.50
Other payables	Harbin Dongan Automotive Engine Manufacturing Co., Ltd.	45,263.28	12,665.04
Other payables	Hubei Xiaogan Huazhong Automobile Light Co., Ltd.	44,971.36	-
Other payables	Chongqing Nexteer Steering System Co.,Ltd.	6,518.69	1,238,092.98
Other payables	United Automotive Electronics (Chongqing) Co., Ltd	4,746.00	159,089.20

Other payables	Chongqing Shangfang Automobile Fittings Co., Ltd.	2,457.06	215,604.00
Other payables	Chongqing Changrong Machinery Co., Ltd.	250.59	88,358.88
Other payables	Chongqing Lingchuan Auto Parts Manufacturing Technology Co., Ltd.	-	681,921.10
Other payables	CDGM Tanaka Environmental Catalyst Co.,Ltd.	-	229,627.31
Other payables	Luzhou Wanyou Automobile Service Co., Ltd.	-	221,800.00
Other payables	Chongqing Wanyou Zunda Automobile Sales & Service Co., Ltd.	-	213,235.41
Other payables	Beijing North Changfu Automobile Sales Co., Ltd	-	200,000.00
Other payables	Chongqing Wanyou Chengxing Automobile Sales and Service Co., Ltd	-	120,000.00
Other payables	Chongqing Dajiang Xinda Vehicles Shares Co., Ltd.	-	100,000.00
Other payables	China Ordnance News	-	44,850.00
Other payables	Hunan Tianyan Machinery Co., Ltd.	-	21,696.00
Other payables	Dali Wanfu Automobile Sales and Service Co., Ltd	-	1,691.00
Other payables	Chongqing Construction Tongda Industrial Co., Ltd.	-	1,343.94
Other payables	Chongqing Yihong Engineering Plastic Products Co., Ltd.	-	159.91
Subtotal		812,552,450.13	632,584,671.84

XV. Share-based payments

1. General information

In RMB Yuan

Grant object category	Grant in current period		Exercise rights in current period		Unlock in current period		Lose efficacy in current period
	Number	Amount	Number	Amount	Number	Amount	Number	Amount
Staff					43,135,948.00	132,685,226.16
Total					43,135,948.00	132,685,226.16

2. Equity settled share based payment

In RMB Yuan

Determination method of fair value of equity instruments on the grant date	Market price method model calculation
Basis for determining the number of exercisable equity instruments	Based on the best estimate of the number of exercisable equity instruments, the relevant expenses and costs are calculated according to the fair value of the equity instruments on the grant date
Cumulative amount of equity settled share based payment included in capital reserve	1,192,614,367.92

3. Share based payment expenses for current period

Grant object category	Equity settled share based payment fees	Share based payment fees settled in cash
Staff	181,288,200.00
Total	181,288,200.00

XVI. Commitments and Contingencies

1. Important commitments existing on the balance sheet date

Contracted, but not provided for

In RMB Yuan

	ending balance	Beginning balance
Capital commitments	10,101,161,476.92	11,619,677,925.31
Investment commitments	894,050,000.00	1,132,500,000.00
Total	10,995,211,476.92	12,752,177,925.31

XVII. Events after the balance sheet dateNone

XVIII. Other important eventsNone

XIX. Notes to the main items of the parent company’s financial statements

1. Account Receivables

(1) Accounts receivable disclosed by aging

In RMB Yuan

Account receivable age	Ending balance	Beginning balance
Less than 1 year (including 1 year)	12,185,535,712.57	7,757,039,345.74
1 to 2 years (including 2 years)	247,784,277.93	4,629,777.82
2 to 3 years (including 3 years)	222,236,659.88	713,934,590.78
Over 3 years	667,087,783.22	172,295,427.89
Subtotal	13,322,644,433.60	8,647,899,142.23
Minus：Provision	66,499,035.09	68,395,117.00
Total	13,256,145,398.51	8,579,504,025.23

(2) Accounts receivable are classified and disclosed according to the bad debt provision method

In RMB Yuan

Item	Ending balance
	Book balance		Bad debt reserves		Book value
	Amount	Ratio (%)	Amount	Ratio (%)
Individually analyzed for provision	12,892,811,222.50	96.77	37,652,846.20	0.29	12,855,158,376.30
Accounts receivable analyzed as groups for provision	429,833,211.10	3.23	28,846,188.89	6.71	400,987,022.21
Total	13,322,644,433.60	100.00	66,499,035.09		13,256,145,398.51

In RMB Yuan

Item	Beginning balance
	Book balance		Bad debt reserves		Book value
	Amount	Ratio (%)	Amount	Ratio (%)
Individually analyzed for provision	8,521,036,971.35	98.53	37,652,846.20	0.44	8,483,384,125.15
Accounts receivable analyzed as groups for provision	126,862,170.88	1.47	30,742,270.80	24.23	96,119,900.08
Total	8,647,899,142.23	100.00	68,395,117.00		8,579,504,025.23

Provision for bad debts based on credit risk characteristics:

In RMB Yuan

Item	Ending balance
	Estimated book balance of default	Expected credit loss rate (%)	Expected credit loss for the entire duration
Within 1 year (including 1 year)	389,060,540.22	0.01	30,910.34
1 to 2 years	9,189,589.19	0.16	14,272.48
2 to 3 years
More than 3 years	31,583,081.69	91.19	28,801,006.07
Total	429,833,211.10		28,846,188.89

(3) Provision for bad debts accrued, recovered or reversed in this period

In RMB Yuan

Items	Beginning balance	Report period Amount		Ending balance
		Accrual	Withdrawal or reversal
Individually analyzed for provision	37,652,846.20			37,652,846.20
Accounts receivable analyzed as groups for provision	30,742,270.80		1,896,081.91	28,846,188.89
Total	68,395,117.00		1,896,081.91	66,499,035.09

(4) Accounts receivable of the top five ending balances collected by the debtor

As of June 30, 2024, the top five accounts receivable had a total balance of 9852015270.32 yuan, accounting for 73.95% of the totalending balance of accounts receivable.

2. Other receivables

In RMB Yuan

Items	Ending balance	Beginning balance
Dividends receivable	22,469,320.00
Other receivables	439,225,446.87	237,247,787.26
Total	461,694,766.87	237,247,787.26

(1) Dividends receivable

1) Classification of dividends receivable

In RMB Yuan

Items ( or invested units )	Ending balance	Beginning balance
Chongqing Changan Kuayue Vehicle Co., Ltd	3,430,000.00
Zhongfa Lian Investment Co., Ltd	19,039,320.00
Total	22,469,320.00

(2) Other receivables

1) Disclosure by aging

In RMB Yuan

Aging	Ending balance	Beginning balance
Less than 1 year (including 1 year)	429,857,858.95	231,794,668.72
1 to 2 years (including 2 years)	7,545,438.39	3,543,202.13
2 to 3 years (including 3 years)	1,804,946.67	1,987,846.67
Over 3 years	6,930,932.77	6,930,932.77
Subtotal	446,139,176.78	244,256,650.29
Minus：Provision	6,913,729.91	7,008,863.03
Total	439,225,446.87	237,247,787.26

2) Classified disclosure based on bad debt provision method

In RMB Yuan

Item	Ending balance
	Book balance		Bad debt reserves		Book value
	Amount	Ratio (%)	Amount	Ratio (%)
Individually analyzed for provision	361,296,709.51	80.98	6,842,932.77	1.89	354,453,776.74

Accounts receivable analyzed as groups for provision	84,842,467.27	19.02	70,797.14	0.08	84,771,670.13
Total	446,139,176.78	100.00	6,913,729.91		439,225,446.87

In RMB Yuan

Item	Beginning balance
	Book balance		Bad debt reserves		Book value
	Amount	Ratio (%)	Amount	Ratio (%)
Individually analyzed for provision	173,323,245.26	70.96	6,842,932.77	3.95	166,480,312.49
Accounts receivable analyzed as groups for provision	70,933,405.03	29.04	165,930.26	0.23	70,767,474.77
Total	244,256,650.29	100.00	7,008,863.03		237,247,787.26

3) Provision for bad debts

In RMB Yuan

Bad debts	Phase 1	Phase 2	Phase 3	Total
	Expected credit loss for the next 12 months	Expected credit loss for the entire duration (no credit impairment has occurred)	Expected credit loss for the entire duration (credit impairment already occurred)
Ending balance of the previous year	165,930.26		6,842,932.77	7,008,863.03
Last year's ending balance in the current period
——Entering the Phase 2
——Entering the Phase 3
——Return to the Phase 2
——Return to the Phase 1
Provision for this period
Current period reversal	95,133.12			95,133.12
This period's resale
Verification in this period
Other changes
Ending balance	70,797.14		6,842,932.77	6,913,729.91

The changes in the book balance of other receivables are as follows:

In RMB Yuan

Bad debts	Phase 1	Phase 2	Phase 3	Total
	Expected credit loss for the next 12 months	Expected credit loss for the entire duration (no credit impairment has occurred)	Expected credit loss for the entire duration (credit impairment already occurred)

Ending balance of the previous year	237,413,717.52		6,842,932.77	244,256,650.29
Last year's ending balance in the current period
——Entering the Phase 2
——Entering the Phase 3
——Return to the Phase 2
——Return to the Phase 1
Newly added in this period	645,616,722.76			645,616,722.76
Termination confirmation for this period	443,734,196.27			443,734,196.27
Other changes
Ending balance	439,296,244.01		6,842,932.77	446,139,176.78

4) Provision for bad debts accrued, recovered or reversed in this period

In RMB Yuan

Item	Beginning balance	Current period change amount		Ending balance
		Provision	Withdrawal or reversal
Individually analyzed for provision	6,842,932.77			6,842,932.77
Accounts receivable analyzed as groups for provision	165,930.26		95,133.12	70,797.14
Total	7,008,863.03		95,133.12	6,913,729.91

5) Classification of other receivables by nature of payment

In RMB Yuan

Nature of Payment	Ending book balance	Beginning book balance
Prepaid equity investment funds	347,940,427.45	109,286,581.45
Reserve fund	13,796,543.91	69,048,305.62
Internal communication	6,513,349.29	25,410,795.04
Subsidies receivable		31,782,936.00
Others	77,888,856.13	8,728,032.18
Total	446,139,176.78	244,256,650.29

6) Other receivables with the top five ending balances collected by debtor

As of June 30, 2024, the top five ending balances of other receivables amounted to RMB 381,521,764.61, accounting for 85.52% ofthe total ending balance of other receivables.

3. Long-term equity investment

In RMB Yuan

Items	Ending balance			Beginning balance
	Book balance	Provision for impairment	Book value	Book balance	Provision for impairment	Book value
Investment in subsidiaries	7,722,549,139.12	49,194,195.00	7,673,354,944.12	7,722,549,139.12	49,194,195.00	7,673,354,944.12
Investment in joint ventures and associates	12,110,989,687.66		12,110,989,687.66	11,762,095,077.25		11,762,095,077.25
Total	19,833,538,826.78	49,194,195.00	19,784,344,631.78	19,484,644,216.37	49,194,195.00	19,435,450,021.37

(1) Investment in subsidiaries

In RMB Yuan

Investee	Opening Balance	Changes during report period				Ending Balance	Ending Balance of provision
		Addition	reduce investment	Provision for impairment	Others
Hefei Changan Automobile Co.,Ltd.	1,535,367,765.23					1,535,367,765.23
Chongqing Changan International Automobile Sales Co., Ltd.	1,182,068,581.00					1,182,068,581.00
Chongqing Changan Kaicheng Automobile Technology Co., Ltd.	977,793,971.55					977,793,971.55
Chongqing Changan Lingyao Automobile Co., Ltd.	594,949,059.30					594,949,059.30
Nanjing Changan Automobile Co., Ltd.	422,533,259.00					422,533,259.00
Changan Automobile Russia Co., Ltd.	251,242,589.15					251,242,589.15
Changan United Kingdom R&D Center Co., Ltd.	250,093,850.95					250,093,850.95
Changan Automobile Investment (Shenzhen) Co., Ltd	237,889,511.00					237,889,511.00
Chongqing Changan Europe Design Center Co.,	155,469,913.50					155,469,913.50

Ltd.
Chongqing Changan Automobile Software Technology Co., Ltd.	99,000,000.00					99,000,000.00
Chongqing Changan Technology Co., Ltd	90,000,000.00					90,000,000.00
Chongqing Changan Connected Car Technology Co., Ltd.	88,500,000.00					88,500,000.00
Nanjing Changan New Energy Automobile Sales & Service Co., Ltd.	50,000,000.00					50,000,000.00
Chongqing Zhilaidadao New Energy Co., Ltd	49,194,195.00					49,194,195.00	49,194,195.00
Chongqing Changan Automobile Supporting Service Co., Ltd.	29,700,000.00					29,700,000.00
Chongqing Changan Xing Automobile Co., Ltd	20,000,000.00					20,000,000.00
Deepal Automobile Technology Co., Ltd	1,655,606,604.29					1,655,606,604.29
Changan United States R&D Center Co., Ltd.	10,243,460.00					10,243,460.00
Chongqing Chehemei Technology Co., Ltd.	10,000,000.00					10,000,000.00
Guangzhou Changan New Energy Automobile Co. Ltd.	4,000,000.00					4,000,000.00
Chongqing Changan Special Automobile Co., Ltd.	2,500,000.00					2,500,000.00
Xiamen Changan New Energy Automobile Co. Ltd.	2,000,000.00					2,000,000.00
Chongqing Anyi Automobile Technical Service Co., Ltd.	2,000,000.00					2,000,000.00
Changan Japan Designing Center Co.,Ltd.	1,396,370.15					1,396,370.15
Beijing Changan R&D Center Co., Ltd.	1,000,000.00					1,000,000.00
Changan Automobile Southeast Asia Co., Ltd	3.00					3.00
Changan Automotive Parts (Thailand) Co., Ltd	3.00					3.00
Changan Automobile Sales (Thailand) Co., Ltd	3.00					3.00
Total	7,722,549,139.12					7,722,549,139.12	49,194,195.00

(2) Investment in associates and joint ventures

In RMB Yuan

Investee	Opening Balance	Changes during report period					Ending Balance	Closing balance of impairment provision
		Addition	Investment income/loss under equity method	Other comprehensive income adjustments	Other equity changes	Declare the distribution of cash dividends or profits
1. Joint ventures
Nanchang Jiangling Investment Co., Ltd.	2,106,206,520.20		181,840,492.72	2.89			2,288,047,015.81
Changan Mazda Automobile Co., Ltd.	878,239,492.13		(102,147,632.24)				776,091,859.89
Changan Mazda Engine Co., Ltd.	805,005,706.40		1,138,226.54				806,143,932.94
Changan Ford Automobile Co., Ltd.			618,761,192.06				618,761,192.06
Subtotal	3,789,451,718.73		699,592,279.08	2.89			4,489,044,000.70
2. Associates
Changan Automobile Financing Co., Ltd.	3,041,392,973.86		201,365,024.22				3,242,757,998.08
Nanjing Leading Equity Investment Partnership (Limited Partnership)	2,645,793,326.69		(7,834,395.32)				2,637,958,931.37
Zhongqi Chuangzhi Technology Co., Ltd.	448,515,220.54		(8,958,355.14)				439,556,865.40
Chongqing Changan Kuayue Automobile Co., Ltd.	228,765,251.64		2,148,873.70			(3,430,000.00)	227,484,125.34
Chongqing Changxin Zhiqi Private Equity Investment Fund Partnership (Limited Partnership)	204,518,396.38		8,011,212.22				212,529,608.60
Era Chang'an Power Battery Co., Ltd	132,637,632.28		(37,137,975.00)				95,499,657.28

Chongqing Changxian Intelligent Technology Co., Ltd	103,217,635.38		524,784.92				103,742,420.30
Chongqing Changan Innovation Private Equity Investment Fund Partnership Enterprise (Limited Partnership)	70,104,473.99		308.14				70,104,782.13
Changan Ford New Energy Vehicle Technology Co., Ltd	67,713,664.93		(17,113,068.64)				50,600,596.29
Anhe Chongqing Dingfeng Automobile Contract Private Equity Investment Fund	61,692,352.41		370,450.00				62,062,802.41
Coresing Semiconductor Technology Co., Ltd.	28,502,232.09		161,981.13				28,664,213.22
Nanjing Leading Equity Investment Management Co., Ltd.	1,107,400.12		(6,888.58)				1,100,511.54
Nanjing Chelai Travel Technology Co., Ltd.	584,824.65		(251,725.81)				333,098.84
Avatr Technology (Chongqing) Co., Ltd.	938,097,973.56		(561,624,968.82)	(184,358.40)	3,221,300.64		379,509,946.98
Chongqing Changyu Private Equity Investment Fund Partnership Enterprise (Limited Partnership)		69,600,000.00	(578,713.15)				69,021,286.85
Chongqing Changan Kuayue Vehicle Marketing Co., Ltd			1,018,842.33				1,018,842.33
Subtotal	7,972,643,358.52	69,600,000.00	(419,904,613.80)	(184,358.40)	3,221,300.64	(3,430,000.00)	7,621,945,686.96
Total	11,762,095,077.25	69,600,000.00	279,687,665.28	(184,355.51)	3,221,300.64	(3,430,000.00)	12,110,989,687.66

4. Operating revenue and cost

In RMB Yuan

Items	Report period		Same period of last year
	Revenue	Cost	Revenue	Cost
Main business	51,569,910,876.74	47,417,805,945.42	51,607,236,773.22	44,981,068,323.56
Other business	3,250,931,919.13	1,606,192,812.26	2,769,138,423.99	1,060,042,185.33
Total	54,820,842,795.87	49,023,998,757.68	54,376,375,197.21	46,041,110,508.89

5. Investment income

In RMB Yuan

Items	Current amount	Prior-period amount
Long-term equity investment losses accounted for by the cost method	297,000,000.00	544,650,000.00
accounted for by the equity method	279,687,665.28	(141,552,078.57)
Investment income from disposal of long-term equity investments		1.00
The investment income of financial asset held for trading during its holding period	1,979,999.95	1,406,842.07
Dividend income from remaining investments in other equity instruments	19,039,320.00	180,656,814.04
Others	52,306,889.42
Total	650,013,874.65	585,161,578.54

XX. Additional information

1. Non-recurring profit and loss statement of current period

In RMB Yuan

Item	Amount	Illustration
Non-recurring items and amounts	4,959,452.69
Government subsidies included in the profit and loss of the current period (Except closely related to business operations, in accordance with the national unified standard quota or quantitative enjoyment of government subsidies)	1,470,786,451.16
In addition to the effective hedging business related to the normal business of the company, the gains and losses from changes in fair value arising from the holding of trading financial assets, derivative financial assets, trading financial liabilities, derivative financial liabilities, and disposal of transactional financial assets, derivative finance Investment income from assets, trading financial liabilities, derivative financial liabilities and other debt investments	(27,836,943.34)
Capital occupation fees charged to non-financial enterprises included in the current profit and loss	35,416,356.91
Reversal of impairment provision for accounts receivable separately tested for impairment	8,614,937.00
Other non-operating income and expenses other than the above items	27,056,373.59
Other profit and loss items that meet the definition of non recurring gains and losses	215,878,122.13
Subtotal	1,734,874,750.14

Subtract: Influenced amount of income tax	37,405,904.07
Influenced amount of minority shareholders’ equity (after tax)	34,405,791.12
Total	1,663,063,054.95	--

2. Return on equity and earnings per share

Profit in report period	Weighted average return on equity（%）	Earnings per share (yuan/share)
		Basic EPS	Diluted EPS
Net profit belonging to the Company’s common stockholders	3.94	0.29	0.28
Net profit belonging to the Company’s common stockholders after deducting non-recurring profit and loss	1.63	0.12	0.12