[中报]一汽解放(000800):2022年半年度报告（英文版）
原标题:一汽解放:2022年半年度报告（英文版） August 31, 2022 Section I Important Notes, Contents and Definitions The Board of Directors and Board of Supervisors, as well as directors, supervisors and senior executives of the Company guarantee that the contents of the semi-annual report are true, accurate and complete, there is no false record, misleading statement or major omission, and shall bear individual and joint legal responsibilities. Hu Hanjie, the person in charge of the Company, Ou Aimin, the person in charge of accounting, and Si Yuzhuo, the person in charge of the accounting organization (chief accountant) declare that they guarantee the authenticity, accuracy and completeness of the financial report in this semi-annual report. Except for the following directors, others attended the board meeting to review the semi-annual report in person
The Company does not plan to pay cash dividends or bonus shares, or convert reserves into share capital. Table of Contents Section I Important Notes, Contents and Definitions................................................................................... 2 Section II Company Profile and Main Financial Indicators ......................................................................... 7 Section III Management Discussion and Analysis ......................................................................................... 11 Section IV Corporate Governance .................................................................................................................. 24 Section V Environmental and Social Responsibilities ................................................................................. 27 Section VI Important Matters ......................................................................................................................... 38 Section VII Changes in Shares and Shareholders ........................................................................................... 47 Section VIII Preferred Shares ............................................................................................................................ 57 Section IX Bonds .............................................................................................................................................. 58 Section X Financial Report ............................................................................................................................ 59 List of Documents for Future Reference (I) Financial statements signed and sealed by the person in charge of the Company, the person in charge of accounting and the person in charge of the accounting organization (chief accountant). (II) Originals of all company documents and announcements publicly disclosed on the website designated by China Securities Regulatory Commission in the reporting period. Interpretation
Section II Company Profile and Main Financial Indicators I. Company Profile
1. Contact information of the Company Whether the registered address, office address and postal code, website and e-mail address of the Company have changed in the reporting period □ Applicable ?Not applicable The registered address, office address and postal code, website and e-mail address of the Company have not changed in the reporting period; please refer to the Annual Report 2021 for details. 2. Information disclosure and preparation location □ Applicable ?Not applicable The name of the information disclosure newspaper selected by the Company, the website designated by the China Securities Regulatory Commission for publishing the semi-annual report, and the reparation location of the Company's semi-annual report have not changed in the reporting period, please see the Annual Report 2021 for details. 3. Other relevant information Whether other relevant information has changed in the reporting period □ Applicable ?Not applicable IV. Main Accounting Data and Financial Indicators Whether the Company needs to retroactively adjust or restate the accounting data of previous years □ Yes ?No
In the reporting period of the Company, there is no difference in net profits and net assets in the financial report disclosed according to the international accounting standards and China accounting standards. 2. Differences in net profits and net assets in the financial report disclosed simultaneously according to foreign accounting standards and China accounting standards □ Applicable ?Not applicable In the reporting period of the Company, there is no difference in net profits and net assets in the financial report disclosed according to foreign accounting standards and China accounting standards. VI. Items and Amounts of Non-recurring Profit and Loss ?Applicable □ Not Applicable Unit: CNY
loss: □ Applicable ?Not applicable There is no specific condition of other profit and loss items meeting definition of non-recurring profit and loss for the Company. Explanation on defining the non-recurring profit and loss items listed in the Explanatory Announcement No. 1 on Information Disclosure by Companies Issuing Securities Publicly - Non-recurring Profit and Loss as recurring profit and loss items □ Applicable ?Not applicable The Company does not define the non-recurring profit and loss items listed in the Explanatory Announcement No. 1 on Information Disclosure by Companies Issuing Securities Publicly - Non-recurring Profit and Loss as recurring profit and loss items. Section III Management Discussion and Analysis I. Main Businesses of the Company in the Reporting Period (I) Main business The Company is a commercial vehicle manufacturer which produces heavy, medium and light trucks, buses, as well as core components such as engines, transmissions and axles, and has a complete manufacturing system covering raw materials, core components, key large assemblies and complete vehicles. The products of the Company are mainly used in market segments such as traction, cargo carrying, dumping, special purposes, highway passenger transport, bus passenger transport, etc., and the Company also provides standardized and customized commercial vehicle products. The Company is committed to becoming a "China's first and world-class" provider of intelligent transportation solutions, focusing on the main production lines, insisting on innovation-driven and reform-driven, and creating leading advantages. (II) Industry situation In the first half of 2022, the frequent epidemic situation across the country as well as the influence of international conflicts and geopolitics brought about great uncertainties to the global economic recovery and the stability of commodity prices, supply chains and grain output. The demand is inhibited because the domestic logistics industry is in a serious "surplus" state and due to the impact of high oil and gas prices and the epidemic situation. The sales volume of commercial vehicle industry in the first half of 2022 was 1.702 million, which was reduced by 41.2% year-on-year, and the sales volume of medium and heavy truck industry was 437,000, which was reduced by 62.1% year-on-year. The commercial vehicle industry is highly mature and the competition is fierce. The current sluggish market has intensified the competition among leading enterprises in the industry and further reduced the living space of other enterprises. The concentration of market share in the industry continues to increase, resulting in the situation that the strong will remain strong. (III) Operation situation In the first half of 2022, when facing changes and challenges in the internal and external environment, and in addition to taking strict and careful normalized epidemic prevention and control measures, the Company made early deployment, overall planning, targeted policies, and rapid and active adjustments, and also made unprecedented efforts to face the most severe situation and perform various key tasks steadily and vigorously, therefore, 85,000 medium and heavy trucks were sold, with a terminal market share of 25.6%, and an increase of 1.7 percentage points over 2021, maintaining the leading position in the industry; nearly 10,000 vehicles were sold in overseas markets, with a year-on-year increase of 42%. The main work in the first half of 2022 was as follows: 1. Focusing on the mainstream product line and creating leading advantages. In terms of platform products, the Company continued to create product advantages, and the three major platform product projects were promoted in order. In terms of series products, more than 100 series of new products such as J6V flat-floor tractors, J6L exclusive flat-floor trucks, 2022 new J6P dump trucks and new J6L series mixer trucks were launched; a sales volume of nearly 50,000 and a market share of more than 12% were achieved, with a leading position in the market segment. In terms of new energy products, more than 40 new energy heavy trucks were developed; 7 new medium trucks were developed and water-cooled battery switching was completed; more than 30 new light trucks were developed. 2. Adhering to innovation-driven development and building core advantages. In terms of technological innovation, the first heavy-duty commercial vehicle in-cylinder direct injection hydrogen engine in China was ignited successfully; the high-speed oil-cooled motor project completed the trial production of the first batch of functional prototypes in China and passed the performance test; the E/E architecture of the second-generation commercial vehicle was adapted to all models. In terms of business innovation, the planning of fleet management solutions for three scenarios: urban construction muck, intelligent refrigeration and intelligent mixing, was completed; the investigation of business types such as "second-hand vehicles" and "online freight platform" was completed, and the implementation of business type innovation was accelerated. 3. Adhering to change-driven development and improving the transformation ability. In terms of management reform, the company established the headquarters medium and heavy vehicles production line and released the IPD2.0 process successfully; the IPD reform of Qingdao medium and heavy vehicle product line and light vehicle product line was launched officially; integrated reform was promoted vigorously to realize the concentration of resources and unified planning in the IT field; attentions were paid to key areas such as marketing and Internet of Vehicles, the digital co- system reform, the construction of three teams was strengthened and more than 800 talents were introduced. Attentions were paid to value creation and incentives and constraints such as sales betting were implemented to effectively stimulate the motivation of all employees. 4. Focusing on winning the following "three battles" to improve the system, capability and implementation: (1) Market leadership: The Company sold 85,000 medium and heavy vehicles by seizing the opportunities of terminal market and focusing on a good sales performance in the first quarter, competition for the Winter Olympics and key markets; sold 15,000 light vehicles by focusing on two products, i.e. refrigeration and LINKTOUR; sold nearly 10,000 vehicles overseas by focusing on key markets, border trade, major customers and light trucks. (2) Profitability improvement: The Company strengthened cost reduction, especially material cost, and canceled and optimized more than 700 projects following the principle of "output reduction and efficiency increase"; carried out value creation in multiple dimensions, with nearly 3,000 proposals submitted by all employees. (3) Digital and intelligent transformation: The Company held the conference on the deployment of digital and intelligent transformation and upgrading to clarify the "1143" work framework, and comprehensively accelerated the transformation in 8 major fields; quickly responded to the digital construction of epidemic prevention and continuously reduced costs and increased efficiency; promoted digital and intelligent transformation and clarified the vision and path of digital and intelligent transformation by focusing the four fields of marketing, R&D, supply chain and operation and improving the digital capability in data, technology platform and network security. In the second half of the year, the Company will continue to implement the spirit of General Secretary Xi Jinping's important speech during his visit to FAW, perform the "11236" annual key tasks in a stable way, continue to seize opportunities, occupy the terminal market and reduce inventory with an unprecedented will, reduce costs and expenses to the unprecedented extent, reduce risks and strengthen confidence with an unprecedented initiative, do a good job in regular epidemic prevention and control, complete annual operation and party building tasks, and lay a solid foundation for next th year and winning the 14 Five-Year Plan. II. Analysis of Core Competitiveness The Company adheres to the corporate vision of "being the most proud commercial vehicle enterprise and the most trustworthy commercial vehicle brand", the mission of "becoming the China's first and world-class provider of intelligent transportation solutions and building a more prosperous society", and the brand concept of "being trustworthy, intelligent and courageous, and benefiting the world"; takes products and services as the main task, customers and employees as the foundation, innovation and reform as the driving force; focuses on industry trends and customer needs, and improves product competitiveness and service level rapidly. 1. Product research and development: Four major fields: heavy, medium, light and passenger vehicles are covered. Heavy trucks include six products: FAW Jiefang J7, J6P, J6V, Yingtu, JH6 and Han V. Medium trucks include three products: FAW Jiefang J6L, JK6 and Long V. Light trucks include three products: LINKTOUR, J6F and Hu V. Passenger vehicles include road vehicles, new energy buses, etc. The Company, which is guided by the idea of "leading technology, pioneering experience, integrated innovation, strengthened application and collaborative efficiency", builds a strong and complete independent research and development system ranging from foresight technology, engine, transmission, axle to complete vehicle; forms an efficient collaborative research and development team of nearly 2,500 people, with five core capabilities: technological innovation, performance development, lean design, trial production and test certification; creates five technical platforms of low carbonization, electrification, intelligence, informatization and high quality. It is one of the commercial vehicle enterprises that master the core technologies of world-class complete vehicles and three powertrains. 2. Marketing and procurement: The Company, which is customer value-oriented, has taken the lead in establishing a fully functional marketing service system. The marketing service network consisting of over 900 dealers, over 1,000 service stations, over 50 spare parts centers and nearly 100 spare parts dealers covers more than 200 prefecture-level cities in China, with a coverage rate of 96% prefecture-level cities with more than 1,000 vehicles, and an average service radius in China of 47.5 km. It provides users with 24-hour efficient and high-quality services, and takes lead in the industry. The Company is committed to integrating global high-quality resources to provide a strong guarantee for the high reliability of Jiefang trucks. In recent years, the Company has signed contracts with top enterprises at home and abroad successively, including Huawei, Knorr-Bremse, ZF, Shell, VOSS, China Unicom, JD and PlusAI, to become strategic partners or establish joint ventures with them. manufacturing system in China covering raw materials and core components, key large assemblies and complete vehicles, and its processing and manufacturing level ranks first in the industry. The Company has five vehicle bases in Changchun, Qingdao, Chengdu/Guanghan, Liuzhou and Foshan, three assembly bases in Changchun, Wuxi and Dalian, and three new business bases in Suzhou, Nanjing and Tianjin. 4. Product export: The Company’s products are exported to 80 countries and regions such as Southeast Asia, the Middle East, Latin America, Africa and Eastern Europe. It has more than 70 primary distributors and nearly 300 distributors in almost 40 countries and regions around the world. The export products include models such as J6, JH6 and Hu V. III. Analysis of Main Business General Please refer to "I. Main Businesses of the Company in the Reporting Period". Year-on-year Changes of Main Financial Data Unit: CNY
Unit: CNY
Information on industries, products or regions accounting for more than 10% of the Company's operating income or operating profit ?Applicable □ Not Applicable Unit: CNY
IV. Analysis of Non-main Business □ Applicable ?Not applicable V. Analysis of Assets and Liabilities 1. Major changes in asset composition
□ Applicable ?Not applicable 3. Assets and liabilities measured at fair value □ Applicable ?Not applicable 4. Restrictions on asset rights as of the end of the reporting period For details, please refer to Note 60 "Assets with restricted ownership or use right" in part VII "Notes to Items in Consolidated Financial Statements" of Section X - Financial Report. VI. Investment Analysis 1. Overall □ Applicable ?Not applicable 2. Major equity investments acquired in the reporting period □ Applicable ?Not applicable 3. Major non-equity investments in progress in the reporting period □ Applicable ?Not applicable 4. Financial assets investment (1) Securities investment □ Applicable ?Not applicable The Company has no securities investment in the reporting period. (2) Investment in derivatives □ Applicable ?Not applicable The Company has no derivative investment in the reporting period. 5. Use of raised funds □ Applicable ?Not applicable The Company does not use raised funds in the reporting period. VII. Sale of Major Assets and Equity 1. Sale of major assets □ Applicable ?Not applicable The Company does not sell major assets in the reporting period. 2. Sale of major equity □ Applicable ?Not applicable VIII. Analysis on main holding and joint-stock companies ?Applicable □ Not Applicable Major Subsidiaries and Joint-stock Companies affecting over 10% Net Profit of the Company Unit: CNY
Description of main holding and joint-stock companies: none IX. Structured Entities Controlled by the Company □ Applicable ?Not applicable X. Risks Faced by the Company and Countermeasures (I) Market competition risk Risk description: The state of stock competition in the domestic commercial vehicle market will not change under the effect of factors such as international political situation, economic situation, and domestic market demand. The Company will face greater market competition pressure in the second half of the year with foreign automobile enterprises accelerating their deployment in the domestic market and the increase of wait-and-see mood in commercial vehicle consumption. Countermeasures: The Company shall seize market opportunities, launch key campaigns in hot areas and compete for growth; optimize inventory structure, strengthen inventory management, and promote rapid digestion of difficult inventory; enrich financial products, strengthen preventive measures, and prevent and control financial risks accurately; focus on key areas and accelerate the （未完）  |