[三季报]江 铃Ｂ:2021年第三季度报告（英文版）
Share’s code： 000550 Share’s Name： Jiangling Motors No.： 2021-063 200550 Jiangling B Jiangling Motors Corporation, Ltd. 2021 Third Quarter Report Jiangling Motors Co., Ltd. and its Board members undertake that the information disclosed herein is truthful, accurate and complete and does not contain any false statement, misrepresentation or major omission. Important Note 1. The Board of Directors and its members, the Supervisory Board and its members, and the senior executives are jointly and severally liable for the truthfulness, accuracy and completeness of the information disclosed in the Report, and confirm that the information disclosed herein does not contain any false statement, misrepresentation or major omission. 2 Chairman Qiu Tiangao, CFO Joey Zhu and Chief of Finance Department, Ding Ni, confirm that the financial statements in this Quarter Report are truthful, accurate and complete. 3. Whether the 2021 third report is audited? □Yes √No §1 Brief Introduction 1. Main accounting data and financial indicators Unit: RMB Reporting period (2021 Third quarter) YoY Change (%) Beginning of year to end of reporting period YoY Change (%) Revenue 7,815,433,165 -2.37% 25,491,054,253 15.45% Profit Attributable to the Equity Holders of the Company 72,235,853 -52.10% 477,449,908 33.15% Net Profit Attributable to Shareholders of Listed Company After Deducting Non-Recurring Profit or Loss 75,550,360 -40.00% 189,392,235 7.55% Net Cash Generated From Operating Activities —— —— -453,821,122 -152.82% Basic Earnings Per Share (RMB) 0.08 -52.10% 0.55 33.15% Diluted Earnings Per Share (RMB) 0.08 -52.10% 0.55 33.15% Weighted Average Return on Net Asset Ratio (%) 1.12% -0.29% 4.52% 1.16% At the end of the reporting period At the end of the previous year Change (%) Total Assets 25,078,894,114 28,185,185,418 -11.02% Shareholder’s equity Attributable to the Equity Holders of the Company 8,463,392,053 10,986,474,009 -22.97% 2. Non-recurring profit and loss items and amounts □√Applicable □Not Applicable Unit: RMB Reporting period (2021 Third quarter) Beginning of year to end of reporting period Profit and loss of non-current assets disposal (including the charge-off part of the asset impairment provision) -13,248,557 -2,239,949 Government subsidies included in the current profit and loss 10,387,465 345,440,426 Capital occupation fee charged for non-financial enterprises included in the current profit and loss 3,184,707 10,327,566 In addition to the effective hedging business related to the normal operating business of the Company, holding the gains and losses of fair value changes arising from trading financial assets and trading financial liabilities, as well as the investment income obtained from the disposal of trading financial assets, trading financial liabilities and available for sale financial assets -4,095,114 -6,771,398 Return of the impairment provision for receivables with a separate impairment test 0 2,000,000 Other non-operating income and expenses except the above 430,717 499,586 Other profit and loss items that meet the definition of non-recurring profit and loss 0 -5,423,293 Less: Income tax impact amount -26,275 55,775,265 Total -3,314,507 288,057,673 Details of other profit and loss items that meet the definition of non-recurring profit and loss □Applicable □√Not Applicable There is no any other profit and loss items that meet the definition of non-recurring profit and loss in the Company. The description of that the non-recurring profit and loss items listed in Corporate Information Disclosure of Public Issuing Securities No.1 are defined as recurring profit and loss items □Applicable □√Not Applicable The Company does not have a situation in which the non-recurring profit and loss items listed in No.1 of Corporate Information Disclosure Announcement No.1 are defined as recurring profit and loss. 3. Causes and explanations on major changes of financial indicators of the reporting period □√Applicable □Not Applicable In the first three quarters of 2021, JMC sold 249,084 vehicles in total, up 12.80% compared with the same period last year; including 88,098 trucks, 47,784 pickups, 37,391 SUVs, 75,811 light buses. Revenue and net profit during the first three quarters of 2021 were RMB 25,491 million and RMB 477 million, increase 15.45% and increase 33.15% respectively compared with the same period last year. As of the end of the first three quarters of 2021, compared with the end of the previous year, financial assets held for trading decreased by RMB 704 million, down 87.53%, mainly reflecting the decrease of structured deposit investments. As of the end of the first three quarters of 2021, compared with the end of the previous year, financing receivables decreased by RMB 533 million, down 65.38%, mainly reflecting the discount notes receivable and make payment for goods. As of the end of the first three quarters of 2021, compared with the end of the previous year, advances to suppliers increased by RMB 177 million, up 39.14%, mainly reflecting the increase in prepaid supplier payments due to increased production. As of the end of the first three quarters of 2021, compared with the end of the previous year, development expenditures decreased by RMB 70 million, down 40.06%, mainly reflecting the development expenditures form intangible assets. As of the end of the first three quarters of 2021, compared with the end of the previous year, contract liabilities decreased by RMB 412 million, down 73.70%, mainly reflecting the Company pre-charges the payment for vehicles, components and service, part of which has been categorized to operating revenue of the period. As of the end of the first three quarters of 2021, compared with the end of the previous year, tax payable increased by RMB 109 million, up 49.97%, mainly reflecting the increase of tax payable at the end of the period. Selling and distribution expenses in the first three quarters of 2021 increased by RMB 379 million, up 38.79% compared with the same period last year, mainly due to the sales growth and the cost of bringing new models to market. Financial gains in the first three quarters of 2021 increased by RMB 82 million, up 64.16% compared with the same period last year, mainly due to the interest income from bank deposits increased. Net profit in the first three quarters of 2021 increased by RMB 119 million, up 33.15% compared with the same period last year, mainly due to the sales growth and continued to promote cost reduction and efficiency. Net cash flows from operating activities in the first three quarters of 2021 decreased by RMB 1,313 million, down 152.82% compared with the same period last year, mainly due to the increase in payment for goods purchased. Net cash flows from investing activities in the first three quarters of 2021 increased by RMB 2,017 million, up 108.54% compared with the same period last year, mainly due to the reduced cash payments on current investments. Net cash flows from financing activities in the first three quarters of 2021 decreased by RMB 4,241 million, down 348.91% compared with the same period last year, mainly due to the reduction in current borrowings and the payment of 2020 annual dividends Cash and cash equivalents in the first three quarters of 2021 decreased by RMB 3,536 million, down 1,636.92% compared with the same period last year, mainly due to the payment of 2020 annual dividends. §2 Shareholder Information 1. Total number of shareholders and top ten shareholders Total shareholders (as of September 30, 2021) JMC had 49,684 shareholders, including 43,828 A-share holders, and 5,856 B-share holders. Top ten shareholders Shareholder Name Shareholder Type Shareholding Percentage (%) Shares at the End of Year Shares with Trading Restriction Shares due to Mortgage or Frozen or Mark Nanchang Jiangling Investment Co., Ltd. State-owned legal person 41.03% 354,176,000 0 0 Ford Motor Company Foreign legal person 32.00% 276,228,394 0 0 Shanghai Automotive Co., Ltd. State-owned Legal person 1.51% 13,019,610 0 0 Hong Kong Securities Clearing Company Ltd. (HKSCC) Foreign legal person 0.67% 5,806,348 0 0 GAOLING FUND, L.P. Foreign legal person 0.63% 5,453,086 0 0 INVESCO FUNDS SICAV Foreign legal person 0.56% 4,841,889 0 0 National Social Security Fund - One One Eight Combinations State-owned legal person 0.54% 4,643,501 0 0 Jin Xing Domestic natural person 0.50% 4,324,900 0 0 National Social Security Fund - Four One Two Combinations State-owned legal person 0.29% 2,462,400 0 0 Li Yifeng Domestic natural person 0.28% 2,426,236 0 0 Notes on association among above-mentioned shareholders None. Top ten shareholders holding unlimited tradable shares Shareholder Name Shares without Trading Restriction Share Type Nanchang Jiangling Investment Co., Ltd. 354,176,000 A share Ford Motor Company 276,228,394 B share Shanghai Automotive Co., Ltd. 13,019,610 A share Hong Kong Securities Clearing Company Ltd. (HKSCC) 5,806,348 B share GAOLING FUND, L.P. 5,453,086 B share INVESCO FUNDS SICAV 4,841,889 B share National Social Security Fund - One One Eight Combinations 4,643,501 A share Jin Xing 4,324,900 B share National Social Security Fund - Four One Two Combinations 2,462,400 A share Li Yifeng 2,426,236 B share Notes on association among above-mentioned shareholders None. 2.Total number of shareholders holding preferred shares and top ten shareholders holding preferred shares □Applicable □√Not Applicable §3. Other Major Events □Applicable □√Not Applicable §4 Financial Statements Jiangling Motors Corporation, Ltd. 1. Consolidated Balance Sheet September 30, 2021 (All amounts in RMB Yuan unless otherwise stated) ASSETS 30 September 2021 Consolidated* 31 December 2020 Consolidated Current assets Cash and cash equivalents 7,811,939,441.00 11,121,955,129.00 Financial assets held for trading 100,242,329.00 803,892,985.00 Accounts receivable 3,233,366,232.00 2,999,883,212.00 Financing receivables 282,395,187.00 815,583,669.00 Advances to suppliers 629,884,878.00 452,714,683.00 Other receivables 238,895,663.00 128,989,573.00 Inventories 2,254,800,151.00 2,086,605,692.00 Other current assets 1,015,191,562.00 737,369,737.00 Total current assets 15,566,715,443.00 19,146,994,680.00 Non-current assets Long-term equity investments 38,000,039.00 39,496,548.00 Fixed assets 6,218,461,866.00 5,165,956,410.00 Construction in progress 615,982,267.00 1,535,497,770.00 Right-of-use assets 39,349,622.00 28,405,890.00 Intangible assets 1,116,889,956.00 931,391,553.00 Development expenditures 103,987,370.00 173,473,242.00 Deferred tax assets 1,379,507,551.00 1,163,969,325.00 Total non-current assets 9,512,178,671.00 9,038,190,738.00 TOTAL ASSETS 25,078,894,114.00 28,185,185,418.00 Current liabilities Short-term borrowings 500,000,000.00 500,000,000.00 Derivative financial liabilities 7,643,180.00 3,716,727.00 Notes payable 10,448,072.00 - Accounts payable 8,406,959,026.00 10,026,215,877.00 Contract liabilities 146,870,098.00 558,526,846.00 Employee benefits payable 650,873,612.00 759,368,606.00 Taxes payable 327,609,327.00 218,445,227.00 Other payables 5,555,330,309.00 4,153,849,625.00 Current portion of non-current liabilities 21,451,076.00 10,909,163.00 Other current liabilities 381,582,331.00 410,899,328.00 Total current liabilities 16,008,767,031.00 16,641,931,399.00 Non-current liabilities Long-term borrowings 2,335,800.00 2,563,666.00 Lease liabilities 23,255,329.00 18,998,952.00 Long-term employee benefits payable 59,924,563.00 62,855,000.00 Provisions 206,261,016.00 195,896,139.00 Deferred income 49,154,687.00 49,944,625.00 Deferred tax liabilities 151,515,810.00 126,995,164.00 Other non-current liabilities 114,287,825.00 99,526,464.00 Total non-current liabilities 606,735,030.00 556,780,010.00 Total liabilities 16,615,502,061.00 17,198,711,409.00 Equity Share capital 863,214,000.00 863,214,000.00 Capital surplus 839,442,490.00 839,442,490.00 Other comprehensive income -11,759,250.00 -11,759,250.00 Surplus reserve 431,607,000.00 431,607,000.00 Retained earnings 6,340,887,813.00 8,863,969,769.00 Total equity attributable to shareholders of the Company 8,463,392,053.00 10,986,474,009.00 Minority interests - - Total equity 8,463,392,053.00 10,986,474,009.00 TOTAL LIABILITIES AND EQUITY 25,078,894,114.00 28,185,185,418.00 * Unaudited financial indexes 2. Consolidated Income Statement Beginning of year to end of reporting period (All amounts in RMB Yuan unless otherwise stated) Item 2021.1.1-2021.9.30 Consolidated* 2020.1.1-2020.9.30 Consolidated* Total Revenue 25,491,054,253.00 22,078,865,851.00 Including: Revenue 25,491,054,253.00 22,078,865,851.00 Total Cost of sales 25,332,786,549.00 21,792,781,697.00 Including: Cost of sales 21,552,830,774.00 18,603,687,100.00 Taxes and surcharges 699,123,834.00 551,663,221.00 Selling and distribution expenses 1,357,136,025.00 977,855,385.00 General and administrative expenses 805,117,434.00 692,348,451.00 Research and development expenses 1,127,465,570.00 1,094,477,252.00 Financial expenses -208,887,088.00 -127,249,712.00 Including: Interest expenses 12,735,235.00 20,699,302.00 Interest income -211,784,418.00 -151,934,124.00 Add: Other income 343,680,301.00 170,285,467.00 Investment income -20,043,348.00 58,911,471.00 Including: Share of profit of associates and joint ventures -1,496,509.00 -2,620,620.00 Gains on changes in fair value -7,577,109.00 1,060,248.00 Credit impairment losses 18,196,099.00 -59,837,249.00 Asset impairment losses - -34,107,710.00 Gains on disposal of assets 25,302,606.00 -210,485.00 Operating profit 517,826,253.00 422,185,896.00 Add: Non-operating income 2,988,740.00 4,617,679.00 Less: Non-operating expenses 30,031,709.00 30,453,310.00 Total profit 490,783,284.00 396,350,265.00 Less: Income tax expenses 13,333,376.00 37,767,219.00 Net profit 477,449,908.00 358,583,046.00 Classified by continuity of operations Net profit from continuing operations 477,449,908.00 358,583,046.00 Net profit from discontinued operations - - Classified by ownership of the equity Attributable to shareholders of the Company 477,449,908.00 358,583,046.00 Minority interests - - Other comprehensive income, net of tax Attributable to shareholders of the Company Other comprehensive income items which will not be reclassified to profit or loss Changes arising from remeasurement of defined benefit plan - - Attributable to minority interests Total comprehensive income 477,449,908.00 358,583,046.00 Attributable to shareholders of the Company 477,449,908.00 358,583,046.00 Attributable to minority interests - - Earnings per share Basic earnings per share(RMB Yuan) 0.55 0.42 Diluted earnings per share(RMB Yuan) 0.55 0.42 *: Unaudited financial indexes 3. Consolidated Cash Flow Statement Beginning of year to end of reporting period (All amounts in RMB Yuan unless otherwise stated) Item 2021.1.1-2021.9.30 Consolidated* 2020.1.1-2020.9.30 Consolidated* Cash flows from operating activities Cash received from sales of goods or rendering of services 28,328,168,356.00 23,182,317,549.00 Cash received relating to other operating activities 489,683,564.00 276,518,362.00 Sub-total of cash inflows 28,817,851,920.00 23,458,835,911.00 Cash paid for goods and services 23,278,603,650.00 17,624,001,228.00 Cash paid to and on behalf of employees 2,110,011,010.00 1,637,690,537.00 Payments of taxes and surcharges 1,794,875,837.00 1,318,344,666.00 Cash paid relating to other operating activities 2,088,182,545.00 2,019,537,024.00 Sub-total of cash outflows 29,271,673,042.00 22,599,573,455.00 Net cash flows from operating activities -453,821,122.00 859,262,456.00 Cash flows from investing activities Cash received from disposal of investments 2,400,000,000.00 12,457,000,000.00 Cash received from returns on investments 14,414,182.00 61,692,956.00 Net cash received from disposal of fixed assets, intangible assets and other long-term assets 48,169,713.00 9,215,209.00 Net cash received from disposal of subsidiaries and other business units 108,000,000.00 - Cash received relating to other investing activities 216,774,537.00 156,835,539.00 Sub-total of cash inflows 2,787,358,432.00 12,684,743,704.00 Cash paid to acquire fixed assets, intangible assets and other long-term assets 915,027,787.00 884,027,270.00 Cash paid to acquire investments 1,700,000,000.00 13,657,000,000.00 Cash paid relating to other investing activities 13,687,496.00 2,324,966.00 Sub-total of cash outflows 2,628,715,283.00 14,543,352,236.00 Net cash flows from investing activities 158,643,149.00 -1,858,608,532.00 Cash flows from financing activities Cash received from borrowings 989,255,556.00 2,300,000,000.00 Sub-total of cash inflows 989,255,556.00 2,300,000,000.00 Cash repayments of borrowings 1,000,214,487.00 1,000,231,444.00 Cash payments for distribution of dividends, profits or interest expenses 3,002,446,863.00 75,271,714.00 Cash paid relating to other financing activities 11,879,993.00 9,104,045.00 Sub-total of cash outflows 4,014,541,343.00 1,084,607,203.00 Net cash flows from financing activities -3,025,285,787.00 1,215,392,797.00 Effect of foreign exchange rate changes on cash and cash equivalents - - Net increase in cash and cash equivalents -3,320,463,760.00 216,046,721.00 Add: Cash and cash equivalents at beginning of year 11,121,955,129.00 8,937,936,658.00 Cash and cash equivalents at end of period 7,801,491,369.00 9,153,983,379.00 * Unaudited financial indexes 2. Statement of the adjustment of the financial statements (1), The adjustment of the financial statements at the beginning of the year when the new lease standards were firstly implemented since 2021. □Applicable □√Not Applicable (2) Description of the traceability adjustment of the preliminary comparison data due to first implementation of the new lease standards since 2021 □Applicable □√Not Applicable 3. Whether the 2021 third quarter report is audited? □Yes √No JMC 2021 Third Quarter Report is not audited. Board of Directors Jiangling Motors Corporation, Ltd. October 27, 2021 中财网
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