[三季报]江 铃B(200550):江铃汽车股份有限公司2023年第三季度报告(英文版)

时间:2023年10月24日 21:59:07 中财网
原标题:江 铃B:江铃汽车股份有限公司2023年第三季度报告(英文版)

Share’s code: 000550 Share’s Name: Jiangling Motors No.: 2023-036 200550 Jiangling B

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

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

 Reporting period (2023 Third Quarter)YoY Change (%)Beginning of Year to End of Reporting PeriodYoY Change (%)
Revenue8,078,772,8613.46%23,508,145,1706.70%
Profit Attributable to the Equity Holders of the Company280,065,2125.76%1,009,452,76940.75%
Net Profit Attributable to Shareholders of Listed Company After Deducting Non-Recurring Profit or Loss239,772,243513.45%657,501,4541,048.11%
Net Cash Generated From Operating Activities————2,415,587,984208.67%
Basic Earnings Per Share (RMB)0.325.76%1.1740.75%
Diluted Earnings Per Share (RMB)0.325.76%1.1740.75%
Weighted Average Return on Net Asset Ratio (%)2.98%-0.04%10.49%2.40%
 At the End of the Reporting PeriodAt the End of the Previous YearChange (%) 
Total Assets27,997,951,34627,468,321,8351.93% 
Shareholder’s Equity Attributable to the Equity Holders of the Company9,896,617,9179,243,817,3337.06% 

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

 Reporting period (2023 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)-2,340,864.00-3,096,758.00
Government subsidies included in the current profit and loss50,839,349.00409,483,303.00
Capital occupation fee charged for non-financial enterprises included in the current profit and loss2,034,471.008,924,764.00
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 assets1,035,581.007,810,540.00
Return of the impairment provision for receivables with a separate impairment test-1,798,850.005,120,492.00
Other non-operating income and expenses except the above-1,659,158.00-10,721,581.00
Less: Income tax impact amount7,817,560.0065,537,976.00
Influence of minority shareholders' equity (after-tax)0.0031,469.00
Total40,292,969.00351,951,315.00
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 2023, JMC sold 221,096 vehicles in total, up 6.46% compared with the same period last year, including 46,139 trucks, 39,530 pickups, 80,333 SUVs, and 55,094 light buses. Revenue and profit attributable to the equity holders of the Company during the first three quarters of 2023 were RMB 23,508 million and RMB 1,009 million, increase 6.70% and 40.75% respectively compared with the same period last year.

As of the end of the third quarter of 2023, compared with the end of the previous year, notes receivable decreased by RMB 720 million, down 96.93%, mainly due to the notes acceptance at maturity.

As of the end of the third quarter of 2023, compared with the end of the previous year, other receivables decreased by RMB 54 million, down 49.16%, mainly due to the received equity transfer payment of the subsidiary.
As of the end of the third quarter of 2023, compared with the end of the previous year, contract liabilities increased by RMB 52 million, up 34.13%, mainly reflecting the increase of the payment for vehicles, components and service, received in advance by the Company in the reporting period.
As of the end of the third quarter of 2023, compared with the end of the previous year, taxes payable decreased by RMB 75 million, down 38.75%, mainly reflecting the decrease of the taxes payable at the end of the period
During the first three quarters of 2023, compared with the same period last year, financial expenses decreased by RMB 39 million, down 34.41%, mainly reflecting the increase of the interest income from bank deposits and net foreign exchange gains and losses, and the decrease of the financial interest expenses.

During the first three quarters of 2023, compared with the same period last year, gains on disposal of assets decreased by RMB 398 million, down 100.61%, mainly reflecting the income resulted from disposal of the land and above-ground buildings and construction in the Qingyunpu site of the Company during the same period last year.

During the first three quarters of 2023, compared with the same period last year, income tax expenses decreased by RMB 180 million, down 348.17%, mainly due to losses of subsidiaries.

During the first three quarters of 2023, compared with the same period last year, net profit attributable to the equity holders of the Company increased by RMB 292 million, up 40.75%, mainly reflecting the increase in sales volume and the decrease in raw material costs, as well as the increase in profit due to the change in profit and loss of minority shareholders.

During the first three quarters of 2023, compared with the same period last year, net cash flows from operating activities increased by RMB 4,639 million, up 208.67%, mainly due to the increase of sales volume and payments received from dealers and the decrease of payments for goods.
During the first three quarters of 2023, compared with the same period last year, net cash flows from investing activities decreased by RMB 1,215 million, down 379.63%, mainly due to the received disposal payment of the land and above-ground buildings and construction in the Qingyunpu site of the Company in the same period last year.

During the first three quarters of 2023, compared with the same period last year, net cash flows from financing activities decreased by RMB 1,637 million, down 128.74%, mainly due to the lower new borrowings compared to the same period last year.

During the first three quarters of 2023, compared with the same period last year, the net decrease of cash and cash equivalents increased by RMB 1,786 million, up 283.04%, mainly due to the increase in net cash generated from operating activities.

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


Total shareholders (as of September 30, 2022)JMC had 36,771 shareholders, including 31,100 A-shareholders, and 5,671 B-shareholders.    
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
Hong Kong Securities Clearing Company Ltd. (HKSCC)Foreign legal person3.27%28,266,77600
Shanghai Automotive Co., Ltd.State-owned legal person1.51%13,019,61000
Jin XingDomestic natural person0.88%7,580,80000
Xingquan Social Responsibility Mixed Securities Investment FundDomestic non-State-owned legal persons0.46%4,000,00000
Xingquan Hexing Mixed Securities Investment Fund(LOF)Domestic non-State-owned legal persons0.46%3,940,00000
GAOLING FUND, L.P.Foreign legal person0.43%3,714,11700
Li YifengDomestic natural person0.35%3,044,80000
Xingquan Selected Mixed Securities Investment FundDomestic non-State-owned legal persons0.29%2,541,20000
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   
Hong Kong Securities Clearing Company Ltd. (HKSCC)28,266,776A share   
Shanghai Automotive Co., Ltd.13,019,610A share   
Jin Xing7,580,800B share   
Xingquan Social Responsibility Mixed Securities Investment Fund4,000,000A share   
Xingquan Hexing Mixed Securities Investment3,940,000A share   

Fund(LOF)  
GAOLING FUND, L.P.3,714,117B share
Li Yifeng3,044,800B share
Xingquan Selected Mixed Securities Investment Fund2,541,200A share
Description of association among the above-mentioned shareholders or concerted actionXingquan Social Responsibility Mixed Securities Investment Fund, Xingquan Hexing Mixed Securities Investment Fund (LOF) and Xingquan Selected Mixed Securities Investment Fund are in custody of AEGON-INDUSTRIAL Fund Management Co., Ltd. 
Description of the top 10 shareholders participating in margin trading businessNone 

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 AND COMPANY BALANCE SHEETS AS AT 30 SEPTEMBER 2023
(All amounts in RMB Yuan unless otherwise stated)


Item30 September 2023 Consolidated*31 December 2022 Consolidated
Current assets  
Cash and cash equivalents10,016,191,3688,604,977,725
Financial assets held for trading200,633,041-
Derivative financial assets4,162,4362,972,698
Notes receivable22,788,151742,752,730
Accounts receivable4,607,424,0974,245,541,752
Financing receivables329,476,150376,662,817
Advances to suppliers236,860,218277,743,526
Other receivables56,460,101111,063,372
Inventories1,624,047,7482,129,040,820
Current portion of non-current assets14,331,95513,851,634
Other current assets1,106,482,1761,362,502,624
Total current assets18,218,857,44117,867,109,698
Non-current assets  
Long-term receivables20,373,52131,148,044
Long-term equity investments236,965,433248,482,822
Fixed assets5,341,364,1005,446,384,369
Construction in progress695,417,139718,612,190
Right-of-use assets195,549,387233,622,890
Intangible assets1,496,269,7381,195,005,752
Development expenditures456,424,997477,233,877
Deferred tax assets1,336,729,5901,250,722,193
Total non-current assets9,779,093,9059,601,212,137
TOTAL ASSETS27,997,951,34627,468,321,835
Current liabilities  
Short-term borrowings1,300,000,0001,100,000,000
Accounts payable8,862,560,4799,015,978,354
Contract liabilities203,961,905152,065,025
Employee benefits payable973,526,111915,703,680
Taxes payable118,365,117193,249,604
Other payables5,812,548,9905,672,708,511
Current portion of non-current liabilities76,029,22172,680,756
Other current liabilities391,534,448386,889,542
Total current liabilities17,738,526,27117,509,275,472
Non-current liabilities  
Long-term borrowings11,495,516.0020,858,057.00
Lease liabilities133,901,056.00193,090,351.00
Long-term employee benefits payable48,442,761.0051,293,000.00
Provisions250,608,013.00250,762,589.00
Deferred income67,059,040.0060,849,643.00
Deferred tax liabilities22,789,674.0023,305,359.00
Other non-current liabilities119,792,890.00118,240,580.00
Total non-current liabilities654,088,950.00718,399,579.00
Total liabilities18,392,615,221.0018,227,675,051.00
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
Special reserve9,350,551.00-
Surplus reserve431,607,000.00431,607,000.00
Retained earnings7,766,488,126.007,123,038,093.00
Total equity attributable to shareholders of the Company9,896,617,917.009,243,817,333.00
Minority interests-291,281,792.00-3,170,549.00
Total equity9,605,336,125.009,240,646,784.00
TOTAL LIABILITIES AND EQUITY27,997,951,346.0027,468,321,835.00

* Unaudited financial indexes


2. CONSOLIDATED AND COMPANY INCOME STATEMENTS FROM 1st
JANUARY 2023 TO 30th SEPTEMBER 2023
(All amounts in RMB Yuan unless otherwise stated)


Item2023.1.1-2023.9.30 Consolidated*2022.1.1-2022.9.30 Consolidated*
Total Revenue23,508,145,170.0022,031,617,358.00
Including: Revenue23,508,145,170.0022,031,617,358.00
Total Cost of sales23,364,291,590.0022,210,150,244.00
Including: Cost of sales19,895,543,278.0018,870,567,493.00
Taxes and surcharges715,319,089.00649,198,393.00
Selling and distribution expenses1,018,644,003.001,084,934,871.00
General and administrative expenses735,786,298.00684,921,452.00
Research and development expenses1,151,041,247.001,033,734,057.00
Financial expenses-152,042,325.00-113,206,022.00
Including: Interest expenses27,647,061.0041,152,045.00
Interest income-183,180,009.00-175,474,827.00
Add: Other income409,483,303.00524,873,765.00
Investment income-14,076,781.00-32,212,952.00
Including: Share of profit of associates and joint ventures-6,424,033.00-7,263,734.00
Gains on changes in fair value1,822,779.0010,238,540.00
Credit impairment losses579,043.0012,474,916.00
Gains on disposal of assets-2,399,417.00395,120,147.00
Operating profit539,262,507.00731,961,530.00
Add: Non-operating income7,415,818.003,293,204.00
Less: Non-operating expenses2,992,667.004,268,579.00
Total profit543,685,658.00730,986,155.00
Less: Income tax expenses-128,655,867.0051,842,593.00
Net profit672,341,525.00679,143,562.00
Classified by continuity of operations  
Net profit from continuing operations672,341,525.00679,143,562.00
Net profit from discontinued operations--
Classified by ownership of the equity  
Attributable to shareholders of the Company1,009,452,769.00717,184,815.00
Minority interests-337,111,244.00-38,041,253.00
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 income672,341,525.00679,143,562.00
Attributable to shareholders of the Company1,009,452,769.00717,184,815.00
Attributable to minority interests-337,111,244.00-38,041,253.00
Earnings per share  
Basic earnings per share(RMB Yuan)1.170.83
Diluted earnings per share(RMB Yuan)1.170.83
*: Unaudited financial indexes
3. CONSOLIDATED AND COMPANY CASH FLOW STATEMENTS FROM
1st JANUARY 2023 TO 30th SEPTEMBER 2023
(All amounts in RMB Yuan unless otherwise stated)


Item2023.1.1-2023.9.30 Consolidated*2022.1.1-2022.9.30 Consolidated*
Cash flows generated from/(uesd in) operating activities  
Cash received from sales of goods or rendering of services26,114,405,023.0022,536,336,405.00
Refunds of taxes534,837,907.00186,207,463.00
Cash received relating to other operating activities483,440,267.00629,736,941.00
Sub-total of cash inflows27,132,683,197.0023,352,280,809.00
Cash paid for goods and services19,199,778,002.0019,978,330,477.00
Cash paid to and on behalf of employees1,824,701,222.001,780,938,148.00
Payments of taxes and surcharges1,818,749,033.001,746,532,718.00
Cash paid relating to other operating activities1,873,866,956.002,069,409,606.00
Sub-total of cash outflows24,717,095,213.0025,575,210,949.00
Net cash flows generated from/(uesd in) operating activities2,415,587,984.00-2,222,930,140.00
Cash flows (uesd in)/generated from investing activities  
Cash received from disposal of investments100,000,000.00200,000,000.00
Cash received from returns on investments5,829,356.001,523,836.00
Net cash received from disposal of fixed assets, intangible assets and other long-term assets1,355,619.00782,848,039.00
Cash received from disposal of subsidiaries and other business units60,900,000.00139,040,000.00
Cash received relating to other investing activities172,004,288.00163,104,941.00
Sub-total of cash inflows340,089,263.001,286,516,816.00
Cash paid to acquire fixed assets, intangible assets and other long-term assets934,830,797.00851,368,308.00
Cash paid to acquire investments300,000,000.00100,000,000.00
Cash paid relating to other investing activities88,707.0015,148,588.00
Sub-total of cash outflows1,234,919,504.00966,516,896.00
Net cash flows (uesd in)/generated from investing activities-894,830,241.00319,999,920.00
Cash flows (uesd in)/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 borrowings3,581,942,944.003,868,751,389.00
Cash received relating to other financing activities500,000,000.00-
Sub-total of cash inflows4,130,942,944.003,917,751,389.00
Cash repayments of borrowings3,406,409,044.002,400,208,436.00
Cash payments for distribution of dividends, profits or interest expenses374,067,646.00230,353,307.00
Cash paid relating to other financing activities716,026,111.0015,377,524.00
Sub-total of cash outflows4,496,502,801.002,645,939,267.00
Net cash flows (uesd in)/generated from financing activities-365,559,857.001,271,812,122.00
Effect of foreign exchange rate changes on cash and cash equivalents--
Net increase/(decrease) in cash and cash equivalents1,155,197,886.00-631,118,098.00
Add: Cash and cash equivalents at beginning of year8,543,193,654.009,569,051,314.00
Cash and cash equivalents at end of period9,698,391,540.008,937,933,216.00
* Unaudited financial indexes

2. In 2023, the first implementation of the new accounting standards adjustment and the situation of first implementation of the financial statements at the beginning of the year related items
□Yes √No

3. Whether the 2023 third quarter report is audited?
□Yes √No
JMC 2023 Third Quarter Report is not audited.


Board of Directors
Jiangling Motors Corporation, Ltd.
October 25, 2023


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