[一季报]江 铃B(200550):江铃汽车股份有限公司2023年第一季度报告(英文版)

时间:2023年04月27日 07:36:57 中财网
原标题:江 铃B:江铃汽车股份有限公司2023年第一季度报告(英文版)

Share’s code: 000550 Share’s Name: Jiangling Motors No.: 2023-011 200550 Jiangling B

Jiangling Motors Corporation, Ltd.
2023 First 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 2023 first report is audited?
□Yes √No

§1 Brief Introduction
1. Main accounting data and financial indicators
Unit: RMB

 Reporting period (2023 First Quarter)Same Period Last YearYoY Change (%)
Revenue7,525,930,4577,232,030,0374.06%
Net Profit Attributable to the Equity Holders of the Company182,746,938193,977,828-5.79%
Net Profit Attributable to Shareholders of Listed Company After Deducting Non-Recurring Profit or Loss9,499,494-27,656,476134.35%
Net Cash Generated From Operating Activities-721,527,544-2,691,345,43373.19%
Basic Earnings Per Share (RMB)0.210.22-5.79%
Diluted Earnings Per Share (RMB)0.210.22-5.79%
Weighted Average Return on1.96%2.24%-0.28%
Net Asset Ratio (%)   
 At the end of the reporting periodAt the end of the previous yearChange (%)
Total Assets26,732,249,57427,468,321,835-2.68%
Shareholder’s equity Attributable to the Equity Holders of the Company9,426,564,2719,243,817,3331.98%

2. Non-recurring profit and loss items and amounts
□√Applicable □Not Applicable
Unit: RMB

 Reporting period (2023 First quarter)
Profit and loss of non-current assets disposal (including the charge-off part of the asset impairment provision)-306,672
Government subsidies included in the current profit and loss201,495,364
Capital occupation fee charged for non-financial enterprises included in the current profit and loss2,085,707
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 assets330,150
Other non-operating income and expenses except the above569,881
Less: Income tax impact amount30,895,517
Influence of minority shareholders' equity (after-tax)31,469
Total173,247,444
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
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 quarter of 2023, JMC sold 71,860 vehicles in total, increased by 2.43% compared with the same period last year, including 17,507 light buses, 16,765 trucks, 12,467 pickups, 25,121 SUVs. Revenue and net profit attributable to the equity holders of the Company during the reporting period were RMB 7,526 million and RMB 183 million, increased by 4.06% and decreased by 5.79% respectively compared with the same period last year.
As of the end of the first quarter of 2023, compared with the end of the previous year, notes receivable decreased by RMB 593 million, down 79.82%, mainly due to the notes acceptance at maturity.

As of the end of the first quarter of 2023, compared with the end of the previous year, financing receivables increased by RMB 244 million, up 64.76%, mainly reflecting the increase of bank acceptance notes received in the reporting period.

As of the end of the first quarter of 2023, compared with the end of the previous year, other receivables decreased by RMB 35.19 million, down 31.69%, mainly due to the received equity transfer payment of the subsidiary.
As of the end of the first quarter of 2023, compared with the end of the previous year, short-term borrowings increased by RMB 600 million, up 54.55%, mainly reflecting the increase of short-term bank borrowings in the reporting period.

As of the end of the first quarter of 2023, compared with the end of the previous year, contract liabilities increased by RMB 61.04 million, up 40.14%, mainly reflecting the increase of the payment for vehicles, components and service, received in advance by the Company in the reporting period.
In the first quarter of 2023, compared with the same period last year, net cash flows used in operating activities decreased by RMB 1,970 million, down 73.19%, mainly due to the increase of sales volume and payments received from dealers and the decrease of payments for goods.

In the first quarter of 2023, compared with the same period last year, net cash flows used in investing activities increased by RMB 196 million, up 124.15%, construction of fixed assets in the reporting period.

In the first quarter of 2023, compared with the same period last year, net cash flows generated from financing activities decreased by RMB 1,206 million, down 90.33%, mainly due to the repayment of maturing borrowings in the reporting period.

§2 Shareholder Information
1. Total number of shareholders and top ten shareholders


Total shareholders (as at March 31, 2023)JMC had 44,131 shareholders, including 38,504 A-share holders, and 5,627 B-share holders.    
Top ten shareholders     
Shareholder NameShareholder TypeShareholding Percentage (%)Shares at the End of YearShares with Trading RestrictionShares due to Mortgage or Frozen or Mark
Nanchang Jiangling Investment Co., Ltd.State-owned legal person41.03%354,176,00000
FORD MOTOR COMPANYForeign legal person32.00%276,228,39400
Shanghai Automotive Co., Ltd.State-owned legal person1.51%13,019,61000
Hong Kong Central Clearing LimitedForeign legal person0.88%7,561,22800
Jin XinDomestic natural person0.75%6,514,93500
GAOLING FUND, L.P.Foreign legal person0.63%5,453,08600
INVESCO FUNDS SICAVForeign legal person0.44%3,818,08900
Wanjia Zhongzheng 1000 Index Enhanced Type Launched Securities Investment FundDomestic non-State-owned legal persons0.33%2,820,64600
Li YifengDomestic natural person0.28%2,374,90000
ICBC-AXA Life Insurance Co., Ltd.-Bonus InsuranceDomestic non-State-owned legal persons0.24%2,100,00000
Top ten shareholders holding unlimited tradable shares     
Shareholder NameShares without Trading RestrictionShare Type   
Nanchang Jiangling Investment Co., Ltd.354,176,000A share   

FORD MOTOR COMPANY276,228,394B share
Shanghai Automotive Co., Ltd.13,019,610A share
Hong Kong Central Clearing Limited7,561,228A share
Jin Xin6,514,935B share
GAOLING FUND, L.P.5,453,086B share
INVESCO FUNDS SICAV3,818,089B share
Wanjia Zhongzheng 1000 Index Enhanced Type Launched Securities Investment Fund2,820,646A share
Li Yifeng2,374,900B share
ICBC-AXA Life Insurance Co., Ltd.- Bonus Insurance2,100,000A share
Notes on association among above-mentioned shareholdersNone. 

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 SHEETS AS AT 31 March 2023
(All amounts in RMB Yuan unless otherwise stated)


ASSETS31 March 2023 Consolidated*31 December 2022 Consolidated
Current assets  
Cash and cash equivalents8,162,667,628.008,604,977,725.00
Derivative financial assets2,471,116.002,972,698.00
Notes receivable149,903,586.00742,752,730.00
Accounts receivable4,792,252,291.004,245,541,752.00
Financing receivables620,574,028.00376,662,817.00
Advances to suppliers314,327,137.00277,743,526.00
Other receivables75,868,376.00111,063,372.00
Inventories1,669,690,446.002,129,040,820.00
Current portion of non-current assets14,009,926.0013,851,634.00
Other current assets1,316,930,312.001,362,502,624.00
Total current assets17,118,694,846.0017,867,109,698.00
Non-current assets  
Long-term receivables27,597,401.0031,148,044.00
Long-term equity investments245,428,597.00248,482,822.00
Fixed assets5,265,661,469.005,446,384,369.00
Construction in progress812,217,437.00718,612,190.00
Right-of-use assets232,154,107.00233,622,890.00
Intangible assets1,261,977,795.001,195,005,752.00
Development expenditures525,217,836.00477,233,877.00
Deferred tax assets1,243,300,086.001,250,722,193.00
Total non-current assets9,613,554,728.009,601,212,137.00
TOTAL ASSETS26,732,249,574.0027,468,321,835.00
Current liabilities  
Short-term borrowings1,700,000,0001,100,000,000
Accounts payable7,741,305,2169,015,978,354
Contract liabilities213,103,827152,065,025
Employee benefits payable893,394,711915,703,680
Taxes payable149,278,553193,249,604
Other payables5,479,111,2695,672,708,511
Current portion of non-current liabilities77,684,53072,680,756
Other current liabilities389,504,202386,889,542
Total current liabilities16,643,382,30817,509,275,472
Non-current liabilities  
Long-term borrowings14,649,895.0020,858,057.00
Lease liabilities135,942,711.00193,090,351.00
Long-term employee benefits payable50,245,898.0051,293,000.00
Provisions245,277,876.00250,762,589.00
Deferred income60,702,859.0060,849,643.00
Deferred tax liabilities23,131,544.0023,305,359.00
Other non-current liabilities113,431,557.00118,240,580.00
Total non-current liabilities643,382,340.00718,399,579.00
Total liabilities17,286,764,648.0018,227,675,051.00
Equity  
Share capital863,214,000.00863,214,000.00
Capital surplus839,442,490.00839,442,490.00
Other comprehensive income-13,484,250.00-13,484,250.00
Surplus reserve431,607,000.00431,607,000.00
Retained earnings7,305,785,031.007,123,038,093.00
Total equity attributable to shareholders of the Company9,426,564,271.009,243,817,333.00
Minority interests18,920,655.00-3,170,549.00
Total equity9,445,484,926.009,240,646,784.00
TOTAL LIABILITIES AND EQUITY26,732,249,574.0027,468,321,835.00
* Unaudited financial indexes


2. CONSOLIDATED INCOME STATEMENTS FOR 2023 First Quarter
(All amounts in RMB Yuan unless otherwise stated)

Item2023 First Quarter Consolidated*2022 First Quarter Consolidated*
Total Revenue7,525,930,457.007,232,030,037.00
Revenue7,525,930,457.007,232,030,037.00
Total Cost of sales7,571,674,682.007,308,469,500.00
including: Cost of sales6,518,853,008.006,328,449,546.00
Taxes and surcharges211,119,175.00175,327,647.00
Selling and distribution expenses304,434,447.00343,099,020.00
General and administrative expenses229,564,785.00216,408,689.00
Research and development expenses356,440,851.00291,716,684.00
Financial expenses-48,737,584.00-46,532,086.00
Including: Interest expenses9,962,599.0014,966,165.00
Interest income-53,058,732.00-59,597,436.00
Add: Other income201,495,364.00260,513,928.00
Investment income-8,194,854.00-12,707,827.00
Including: Share of profit of associates and joint ventures-3,054,225.00-3,344,212.00
Gains on changes in fair value-501,582.002,407,009.00
Credit impairment losses-2,194,614.00-186,485.00
Gains on disposal of assets-260,609.00144,457.00
Operating profit144,599,480.00173,731,619.00
Add: Non-operating income577,937.00540,623.00
Less: Non-operating expenses54,119.00-170,222.00
Total profit145,123,298.00174,442,464.00
Less: Income tax expenses-10,714,844.00-1,497,690.00
Net profit155,838,142.00175,940,154.00
Classified by continuity of operations  
Net profit from continuing operations155,838,142.00175,940,154.00
Net profit from discontinued operations--
Classified by ownership of the equity  
Attributable to shareholders of the Company182,746,938.00193,977,828.00
Minority interests-26,908,796.00-18,037,674.00
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 income155,838,142.00175,940,154.00
Attributable to shareholders of the Company182,746,938.00193,977,828.00
Attributable to minority interests-26,908,796.00-18,037,674.00
Earnings per share  
Basic earnings per share (RMB Yuan)0.210.22
Diluted earnings per share (RMB Yuan)0.210.22
*: Unaudited financial indexes


3. CONSOLIDATED AND CASH FLOW STATEMENTS FOR 2023 First
Quarter
(All amounts in RMB Yuan unless otherwise stated)

Item2023 First Quarter Consolidated*2022 First Quarter Consolidated*
Cash flows used in operating activities  
Cash received from sales of goods or rendering of services7,962,242,252.007,084,413,625.00
Refunds of taxes304,302,316.00-
Cash received relating to other operating activities215,668,059.00295,984,868.00
Sub-total of cash inflows8,482,212,627.007,380,398,493.00
Cash paid for goods and services7,185,848,031.007,696,355,942.00
Cash paid to and on behalf of employees632,776,899.00768,884,832.00
Payments of taxes and surcharges804,476,706.00779,035,171.00
Cash paid relating to other operating activities580,638,535.00827,467,981.00
Sub-total of cash outflows9,203,740,171.0010,071,743,926.00
Net cash flows used in operating activities-721,527,544.00-2,691,345,433.00
Cash flows used in investing activities  
Cash received from disposal of investments-100,000,000.00
Cash received from returns on investments-758,219.00
Net cash received from disposal of fixed assets, intangible assets and other long- term assets479,286.0021,017,677.00
Cash received from disposal of subsidiaries and other business units36,000,000.0063,700,000.00
Cash received relating to other investing activities50,333,031.0062,581,101.00
Sub-total of cash inflows86,812,317.00248,056,997.00
Cash paid to acquire fixed assets, intangible assets and other long-term assets440,170,906.00298,559,322.00
Cash paid to acquire investments-100,000,000.00
Cash paid relating to other investing activities88,707.007,182,060.00
Sub-total of cash outflows440,259,613.00405,741,382.00
Net cash flows used in investing activities-353,447,296.00-157,684,385.00
Cash flows generated from financing activities  
Cash received from absorbing investments49,000,000.0049,000,000.00
Including: cash received by the subsidiary from absorbing minority shareholders' investment49,000,000.0049,000,000.00
Cash received from borrowings1,689,372,500.001,288,852,500.00
Sub-total of cash inflows1,738,372,500.001,337,852,500.00
Cash repayments of borrowings1,106,183,828.00-
Cash payments for distribution of dividends, profits or interest expenses539,869.00-
Cash paid relating to other financing activities502,544,489.002,915,194.00
Sub-total of cash outflows1,609,268,186.002,915,194.00
Net cash flows generated from financing activities129,104,314.001,334,937,306.00
Effect of foreign exchange rate changes on cash and cash equivalents--
Net decrease in cash and cash equivalents-945,870,526.00-1,514,092,512.00
Add: Cash and cash equivalents at beginning of year8,543,193,654.009,569,051,314.00
Cash and cash equivalents at end of period7,597,323,128.008,054,958,802.00
* Unaudited financial indexes

2. Whether the 2023 first quarter report is audited?
□Yes √No
JMC 2023 First Quarter Report is not audited.


Board of Directors
Jiangling Motors Corporation, Ltd.
April 27, 2023


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