[一季报]江 铃Ｂ(200550):江铃汽车股份有限公司2024年第一季度报告（英文版）
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时间：2024年04月23日 18:15:50 中财网 |
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原标题:江 铃Ｂ: 江铃汽车股份有限公司2024年第一季度报告（英文版）
Share’s code： 000550 Share’s Name： Jiangling Motors No.： 2024-019 200550 Jiangling B
Jiangling Motors Corporation, Ltd.
2024 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, Hu Hanfeng, confirm that the financial statements in this Quarter Report are truthful, accurate and complete.
3. Whether the 2024 first report is audited?
□Yes ?No
§1 Brief Introduction
1. Main accounting data and financial indicators
Unit: RMB
| | Reporting period
(2024 First Quarter) | Same Period
Last Year | YoY Change
(%) | | Revenue | 7,974,792,045 | 7,525,930,457 | 5.96% | | Net Profit Attributable to the
Equity Holders of the Company | 482,364,920 | 182,746,938 | 163.95% | | Net Profit Attributable to
Shareholders of Listed
Company After Deducting
Non-Recurring Profit or Loss | 420,804,103 | 9,499,494 | 4,329.75% | | Net Cash Generated From
Operating Activities | -614,291,227 | -721,527,544 | 14.86% | | Basic Earnings Per Share
(RMB) | 0.56 | 0.21 | 163.95% | | Diluted Earnings Per Share
(RMB) | 0.56 | 0.21 | 163.95% | | Weighted Average Return on | 4.55% | 1.96% | 2.59% | | Net Asset Ratio (%) | | | | | | At the end of the
reporting period | At the end of the
previous year | Change (%) | | Total Assets | 27,766,056,883 | 29,141,187,886 | -4.72% | | Shareholder’s equity
Attributable to the Equity
Holders of the Company | 10,833,366,089 | 10,350,145,738 | 4.67% |
2. Non-recurring profit and loss items and amounts
?Applicable □Not Applicable
Unit: RMB
| | Reporting period
(2024 First quarter) | | Profit and loss of non-current assets disposal (including
the charge-off part of the asset impairment provision) | -494,104 | | Government subsidies included in the current profit and
loss | 64,951,003 | | 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 | 7,481,684 | | Capital occupation fee charged for non-financial
enterprises included in the current profit and loss | 2,169,852 | | Other non-operating income and expenses except the
above | -389,057 | | Other profit and loss items that meet the definition of
non-recurring profit and loss | -523,093 | | Less: Income tax impact amount | 11,635,468 | | Total | 61,560,817 |
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
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 quarter of 2024, JMC sold 74,322 vehicles in total, increased by 3.43% compared with the same period last year, including 17,179 light buses, 13,725 trucks, 18,715 pickups, 24,703 SUVs. Revenue and net profit attributable to the equity holders of the Company during the reporting period were RMB 7,975 million and RMB 482 million, increased by 5.96% and by 163.95% respectively compared with the same period last year.
As of the end of the first quarter of 2024, compared with the end of the previous year, financing receivables increased by RMB 183 million, up 148.7%, mainly reflecting the increase in notes receivable received from the sales.
As of the end of the first quarter of 2024, compared with the end of the previous year, advances to suppliers decreased by RMB 102 million, down 49.82%, mainly reflecting the decrease of the advance payment to suppliers.
As of the end of the first quarter of 2024, compared with the end of the previous year, inventories increased by RMB 509 million, up 32.59%, mainly reflecting the increase of output and the increase of raw material procurement.
As of the end of the first quarter of 2024, compared with the end of the previous year, development expenditures decreased by RMB 169 million, down 59.64%, mainly due to the formation of intangible assets by development expenditures.
As of the end of the first quarter of 2024, compared with the end of the previous year, short-term borrowings decreased by RMB 900 million, down 69.23%, mainly reflecting the repayment of short-term bank borrowings.
As of the end of the first quarter of 2024, compared with the end of the previous year, contract liabilities increased by RMB 98.65 million, up 40.47%, mainly reflecting the increase in vehicle advance and technical service payment.
In the first quarter of 2024, compared with the same period last year, other income increased by RMB 90.91 million, up 45.12%, mainly reflecting the impact of the additional deduction VAT input in the current period. In the first quarter of 2024, compared with the same period last year, income tax expenses decreased by RMB 69.92 million, up 652.58%, mainly due to the losses of the subsidiaries.
In the first quarter of 2024, compared with the same period last year, net profit attributable to shareholders of the Company increased by RMB 300 million, up 163.95%, mainly reflecting the increase of net profit attributable to shareholders of the Company caused by the change of minority interests.
In the first quarter of 2024, compared with the same period last year, net cash flows used in investing activities decreased by RMB 137 million, down 38.69%, mainly reflecting the decrease in cash paid for the purchase and construction of fixed assets in the current period.
In the first quarter of 2024, compared with the same period last year, net cash flows generated from financing activities decreased by RMB 1,038 million, down 803.71%, mainly reflecting the decrease in borrowings in the current period.
§2 Shareholder Information
1. Total number of shareholders and top ten shareholders
| Total shareholders
(as at March 31, 2024) | JMC had 26,676 shareholders, including 21,184 A-share holders and 5,492
B-share holders. | | | | | | Top ten shareholders (Excluding lending of shares through refinancing) | | | | | | | 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 | | Hong Kong Securities
Clearing Company Ltd.
(HKSCC) | Foreign legal
person | 2.71% | 23,421,136 | 0 | 0 | | Shanghai Automotive Co.,
Ltd. | State-owned
legal person | 1.51% | 13,019,610 | 0 | 0 | | Jin Xing | Domestic natural
person | 0.65% | 5,590,700 | 0 | 0 | | Xingquan Hexing Hybrid
Securities Investment Fund
（LOF） | Domestic
non-State-owned
legal persons | 0.54% | 4,642,296 | 0 | 0 | | Guangfa Wen Xin Capital
Preservation Hybrid | Domestic
non-State-owned | 0.53% | 4,568,516 | 0 | 0 | | Securities Investment Fund | legal persons | | | | | | China Merchants
Securities (HK) Co., Ltd. | Foreign legal
person | 0.47% | 4,020,043 | 0 | 0 | | Li Yifeng | Domestic natural
person | 0.33% | 2,873,800 | 0 | 0 | | Jin Shiya | Domestic natural
person | 0.27% | 2,343,512 | 0 | 0 | | 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 | | | | | Hong Kong Securities Clearing Company Ltd.
(HKSCC) | 23,421,136 | A share | | | | | Shanghai Automotive Co., Ltd. | 13,019,610 | A share | | | | | Jin Xing | 5,590,700 | B share | | | | | Xingquan Hexing Hybrid Securities Investment
Fund（LOF） | 4,642,296 | A share | | | | | Guangfa Wen Xin Capital Preservation Hybrid
Securities Investment Fund | 4,568,516 | A share | | | | | China Merchants Securities (HK) Co., Ltd. | 4,020,043 | B share | | | | | Li Yifeng | 2,873,800 | B share | | | | | Jin Shiya | 2,343,512 | B share | | | | | Notes on association among above-mentioned
shareholders | Shareholders holding more than 5% are not related. | | | | | | Description of shareholders participating in
financing and securities financing business | None. | | | | |
Participation of Shareholders holding more than 5% of shares, top 10 shareholders and top 10 shareholders with unlimited shares in the lending of shares in the refinancing business
□Applicable ?Not Applicable
Change in the top 10 shareholders of the Company and the top 10 shareholders with unlimited shares from the previous period due to lending/repatriation of refinancing business
□Applicable ?Not Applicable
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 2024
(All amounts in RMB Yuan unless otherwise stated)
| ASSETS | 31 March 2024
Consolidated* | 31 December 2023
Consolidated | | Current assets | | | | Cash and cash equivalents | 10,098,337,815.00 | 11,830,560,675.00 | | Financial assets held for trading | 200,604,877.00 | 200,604,877.00 | | Derivative financial assets | 3,334,732.00 | - | | Notes receivable | - | 14,621,337.00 | | Accounts receivable | 3,754,430,715.00 | 4,401,826,022.00 | | Financing receivables | 306,328,811.00 | 123,170,062.00 | | Advances to suppliers | 102,548,460.00 | 204,358,759.00 | | Other receivables | 91,972,594.00 | 75,319,848.00 | | Inventories | 2,068,770,281.00 | 1,560,259,511.00 | | Current portion of non-current
assets | 16,756,382.00 | 15,749,806.00 | | Other current assets | 1,196,350,962.00 | 951,659,556.00 | | Total current assets | 17,839,435,629.00 | 19,378,130,453.00 | | Non-current assets | | | | Long-term receivables | 21,373,656.00 | 22,775,696.00 | | Long-term equity investments | 232,647,414.00 | 233,798,348.00 | | Fixed assets | 5,465,061,878.00 | 5,389,645,152.00 | | Construction in progress | 518,840,266.00 | 464,431,412.00 | | Right-of-use assets | 175,670,073.00 | 194,836,028.00 | | Intangible assets | 1,835,932,819.00 | 1,691,021,121.00 | | Development expenditures | 114,525,277.00 | 283,738,155.00 | | Goodwill | - | - | | Deferred tax assets | 1,552,498,811.00 | 1,472,003,554.00 | | Other non-current assets | 10,071,060.00 | 10,807,967.00 | | Total non-current assets | 9,926,621,254.00 | 9,763,057,433.00 | | TOTAL ASSETS | 27,766,056,883.00 | 29,141,187,886.00 | | Current liabilities | | | | Short-term borrowings | 400,000,000.00 | 1,300,000,000.00 | | Derivative financial liabilities | - | 459,306.00 | | Accounts payable | 8,626,384,262.00 | 9,476,215,223.00 | | Contract liabilities | 342,393,601.00 | 243,740,992.00 | | Employee benefits payable | 717,747,356.00 | 890,051,287.00 | | Taxes payable | 158,248,300.00 | 118,399,765.00 | | Other payables | 6,117,884,066.00 | 5,944,976,093.00 | | Current portion of non-current
liabilities | 92,585,233.00 | 93,383,898.00 | | Other current liabilities | 383,697,646.00 | 373,948,630.00 | | Total current liabilities | 16,838,940,464.00 | 18,441,175,194.00 | | Non-current liabilities | | | | Long-term borrowings | 1,393,831.00 | 1,391,414.00 | | Lease liabilities | 69,155,603.00 | 138,005,943.00 | | Long-term employee benefits
payable | 51,986,229.00 | 52,891,000.00 | | Provisions | 324,493,304.00 | 315,700,263.00 | | Deferred income | 66,269,618.00 | 67,601,361.00 | | Deferred tax liabilities | 19,114,078.00 | 19,256,890.00 | | Other non-current liabilities | 169,906,115.00 | 120,293,201.00 | | Total non-current liabilities | 702,318,778.00 | 715,140,072.00 | | Total liabilities | 17,541,259,242.00 | 19,156,315,266.00 | | Equity | | | | Share capital | 863,214,000.00 | 863,214,000.00 | | Capital surplus | 839,442,490.00 | 839,442,490.00 | | Other comprehensive income | -20,572,000.00 | -20,572,000.00 | | Special reserve | 4,677,056.00 | 3,821,625.00 | | Surplus reserve | 431,607,000.00 | 431,607,000.00 | | Retained earnings | 8,714,997,543.00 | 8,232,632,623.00 | | Total equity attributable to
shareholders of the Company | 10,833,366,089.00 | 10,350,145,738.00 | | Minority interests | -608,568,448.00 | -365,273,118.00 | | Total equity | 10,224,797,641.00 | 9,984,872,620.00 | | TOTAL LIABILITIES AND
EQUITY | 27,766,056,883.00 | 29,141,187,886.00 |
*: Unaudited financial indexes
2. CONSOLIDATED AND INCOME STATEMENTS FOR 2024 First Quarter (All amounts in RMB Yuan unless otherwise stated)
| Item | 2024 First
Quarter
Consolidated* | 2023 First
Quarter
Consolidated* | | Total Revenue | 7,974,792,045.00 | 7,525,930,457.00 | | Revenue | 7,974,792,045.00 | 7,525,930,457.00 | | Total Cost of sales | 8,118,408,806.00 | 7,571,674,682.00 | | including: Cost of sales | 6,994,942,049.00 | 6,518,853,008.00 | | Taxes and surcharges | 296,137,616.00 | 211,119,175.00 | | Selling and distribution expenses | 356,648,595.00 | 304,434,447.00 | | General and administrative
expenses | 207,787,589.00 | 229,564,785.00 | | Research and development
expenses | 319,007,229.00 | 356,440,851.00 | | Financial expenses | -56,114,272.00 | -48,737,584.00 | | Including: Interest expenses | 6,798,858.00 | 9,962,599.00 | | Interest income | -67,248,417.00 | -53,058,732.00 | | Add: Other income | 292,403,020.00 | 201,495,364.00 | | Investment income | 2,536,711.00 | -8,194,854.00 | | Including: Share of profit of
associates and joint ventures | -1,150,934.00 | -3,054,225.00 | | Gains on changes in fair value | 3,794,038.00 | -501,582.00 | | Credit impairment losses | 2,142,893.00 | -2,194,614.00 | | Asset impairment losses | 2,055,096.00 | - | | Gains on disposal of assets | -494,104.00 | -260,609.00 | | Operating profit | 158,820,893.00 | 144,599,480.00 | | Add: Non-operating income | 640,409.00 | 577,937.00 | | Less: Non-operating expenses | 1,029,466.00 | 54,119.00 | | Total profit | 158,431,836.00 | 145,123,298.00 | | Less: Income tax expenses | -80,637,754.00 | -10,714,844.00 | | Net profit | 239,069,590.00 | 155,838,142.00 | | Classified by continuity of operations | | | | Net profit from continuing operations | 239,069,590.00 | 155,838,142.00 | | Net profit from discontinued
operations | - | - | | Classified by ownership of the equity | | | | Attributable to shareholders of the
Company | 482,364,920.00 | 182,746,938.00 | | Minority interests | -243,295,330.00 | -26,908,796.00 | | 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 income | 239,069,590.00 | 155,838,142.00 | | Attributable to shareholders of the
Company | 482,364,920.00 | 182,746,938.00 | | Attributable to minority interests | -243,295,330.00 | -26,908,796.00 | | Earnings per share | | | | Basic earnings per share (RMB
Yuan) | 0.56 | 0.21 | | Diluted earnings per share (RMB
Yuan) | 0.56 | 0.21 |
*: Unaudited financial indexes
3. CONSOLIDATED AND CASH FLOW STATEMENTS FOR 2024 First
Quarter
(All amounts in RMB Yuan unless otherwise stated)
| Item | 2024 First Quarter
Consolidated* | 2023 First Quarter
Consolidated* | | Cash flows (used in)/generated from
operating activities | | | | Cash received from sales of goods or
rendering of services | 9,429,271,287.00 | 7,962,242,252.00 | | Refunds of taxes | - | 304,302,316.00 | | Cash received relating to other
operating activities | 79,100,802.00 | 215,668,059.00 | | Sub-total of cash inflows | 9,508,372,089.00 | 8,482,212,627.00 | | Cash paid for goods and services | 8,077,222,540.00 | 7,185,848,031.00 | | Cash paid to and on behalf of
employees | 826,937,839.00 | 632,776,899.00 | | Payments of taxes and surcharges | 560,994,519.00 | 804,476,706.00 | | Cash paid relating to other operating
activities | 657,508,418.00 | 580,638,535.00 | | Sub-total of cash outflows | 10,122,663,316.00 | 9,203,740,171.00 | | Net cash flows (used in)/generated
from operating activities | -614,291,227.00 | -721,527,544.00 | | Cash flows used in investing
activities | | | | Cash received from disposal of
investments | 200,000,000.00 | - | | Cash received from returns on
investments | 1,326,356.00 | - | | Net cash received from disposal of
fixed assets, intangible assets and
other long-term assets | 5,962,459.00 | 479,286.00 | | Cash received from disposal of
subsidiaries and other business units | - | 36,000,000.00 | | Cash received relating to other
investing activities | 61,769,345.00 | 50,333,031.00 | | Sub-total of cash inflows | 269,058,160.00 | 86,812,317.00 | | Cash paid to acquire fixed assets,
intangible assets and other long-term
assets | 285,684,769.00 | 440,170,906.00 | | Cash paid to acquire investments | 200,000,000.00 | - | | Cash paid relating to other investing
activities | 83,305.00 | 88,707.00 | | Sub-total of cash outflows | 485,768,074.00 | 440,259,613.00 | | Net cash flows used in investing | -216,709,914.00 | -353,447,296.00 | | activities | | | | Cash flows (used in)/generated from
financing activities | | | | Cash received from absorbing
investments | - | 49,000,000.00 | | Including: cash received by the
subsidiary from absorbing minority
shareholders' investment | - | 49,000,000.00 | | Cash received from borrowings | 498,714,444.00 | 1,689,372,500.00 | | Cash received from other financing
activities | 171,814.00 | - | | Sub-total of cash inflows | 498,886,258.00 | 1,738,372,500.00 | | Cash repayments of borrowings | 1,400,000,000.00 | 1,106,183,828.00 | | Cash payments for distribution of
dividends, profits or interest expenses | 3,088,694.00 | 539,869.00 | | Cash paid relating to other financing
activities | 4,312,407.00 | 502,544,489.00 | | Sub-total of cash outflows | 1,407,401,101.00 | 1,609,268,186.00 | | Net cash flows (used in)/generated
from financing activities | -908,514,843.00 | 129,104,314.00 | | Effect of foreign exchange rate
changes on cash and cash
equivalents | - | - | | Net decrease in cash and cash
equivalents | -1,739,515,984.00 | -945,870,526.00 | | Add: Cash and cash equivalents at
beginning of year | 11,746,518,615.00 | 8,543,193,654.00 | | Cash and cash equivalents at end of
period | 10,007,002,631.00 | 7,597,323,128.00 |
*: Unaudited financial indexes
2. In 2024, 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
□Applicable ?Not Applicable
3. Whether the 2024 first quarter report is audited?
□Yes ?No
JMC 2024 First Quarter Report is not audited.
Board of Directors
Jiangling Motors Corporation, Ltd.
April 24, 2024
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