2015 First Quarter Report
Of
Chongqing Changan Automobile Company Limited
April, 2015
Chapter 1 Important Notes
The Board of Directors, the Supervisory Committee and directors, supervisors and senior management of
Chongqing Changan Automobile Company Limited (hereinafter referred to as “the Company”) warrant that this
report does not contain any false or misleading statements or omit any material facts and all information set forth
herein is true, accurate and complete.
Other directors attended the board meeting for reviewing the first quarter report except for the following
director:
Name of the Director The position for the Reasons for the absence Name of the consignee
absent director
Peng Shaobing Independent Peng On Health Reasons N/A
Chairman Mr. Xu Liuping, Chief Accountants Mr. Wang Kun and Mr.Hua Zhanbiao guarantee the
truthfulness and completeness of the financial statements of the quarter report.
Chapter 2 Changes in Key Financial Data and Shareholders
2.1 Main accounting financial data
During the reporting period the previous financial data whether the retroactive adjustment or restatement
√Yes □ No
In RMB Yuan
The reporting The same period last year Changed (%)
period Before adjustment Adjusted Adjusted
Operating income 18,197,185,337.09 12,190,744,951.20 12,192,042,572.79 49.25%
Net profit attributable to shareholders of
2,494,491,155.26 1,972,655,941.55 1,927,643,120.49 29.41%
the Company
Net profit excluding non-recurring gains
and losses attributable to shareholders of 2,349,996,871.48 1,913,375,369.83 1,868,362,548.77 25.78%
listed company
cash flow from operating activities 2,773,784,253.36 406,079,486.24 355,294,998.59 680.70%
Basic earnings per share 0.53 0.42 0.41 29.27%
Diluted earnings per share Not applicable Not applicable Not applicable Not applicable
0.48percentage points
Weighted average return on net assets 9.28% 9.98% 9.76%
decreased
This reporting End of 2014 Changed (%)
period Before Adjustment Adjusted Adjusted
Total assets 75,471,232,470.04 69,687,352,890.82 69,687,352,890.82 8.30%
Net assets attributable to shareholders of
28,107,948,242.20 25,637,298,549.80 25,637,298,549.80 9.64%
listed company
Accidental gain/loss item and amount
√ Applicable □ Not applicable
In RMB Yuan
Amount of the period from the
Item beginning of year to the end of Explanation
report term
Gain/loss of non-current assets -2,329,321.27
Government subsidies accounted into current gain/loss account, other than
those closely related to the Company’s common business, comply with the 152,436,563.17
national policy and continues to enjoy at certain fixed rate or amount.
Other non-business income and expenditures other than the above 30,158,496.89
Less: Influenced amount of income tax 33,767,147.76
Influenced amount of minority shareholders’ equity 2,004,307.25
Total 144,494,283.78
For the Company’s non-recurring gain/loss items as defined in the Explanatory Announcement No.1 on information disclosure for
Companies Offering their Securities to the Public-Non-recurring Gains and Losses and its non-recurring gain/loss items as illustrated
in the Explanatory Announcement No.1 on information Disclosure for Companies offering their securities to the public-non-recurring
Gains and losses which have been defined as recurring gains and losses, it is necessary to explain the reason.
□ Applicable√ Not applicable
In reporting period, the Company has no particular items defined as recurring profit (gain)/loss according to the lists of extraordinary
profit (gain)/loss in Q&A Announcement No.1 on Information Disclosure for Companies Offering Their Securities to the Public ---
Extraordinary Profit/loss.
2.2 Total number of shareholders at the end of the report period and statement on shares held by the top ten
tradable shareholders
2.2.1 Total number of shareholders at the end of the report period and statement on shares held by the top ten
tradable shareholders
Unit: share
As of the reporting period, the total Totaled 97,447 , of which 84,151 was A share shareholders and 13,296 were B share
number of shareholders shareholders.
Top 10 Shareholders
Properties of Shareholding Number of Conditional Pledging or freezing
Name of the shareholder
shareholder (%) shares shares Share status Amount
State-owned legal No pledge or
China Changan Automobile Co., Ltd. 39.11% 1,823,595,216 373,358,342
person shares frozen
National Social Security Fund- domestic non-state No pledge or
1.29% 60,014,324
Portfolio 102 legal person shares frozen
United Prosperity Investment Co., foreign legal No pledge or
0.97% 45,195,100
Limited person shares frozen
VALUE PARTNERS CLASSIC foreign legal No pledge or
0.87% 40,648,810
FUND person shares frozen
China Life Insurance Co., Ltd - No pledge or
domestic non-state
dividend - personal dividend 0.80% 37,366,989 frozen
legal person shares
-005L-FH002 Shen
HTHK-MANULIFE CHINA VALUE foreign legal No pledge or
0.74% 34,519,781
FUND person shares frozen
Agricultural Bank of China Dacheng No pledge or
domestic non-state
innovation growth of hybrid securities 0.67% 31,308,806 frozen
legal person shares
investment fund (LOF)
Bank of Communications－Hua’an No pledge or
domestic non-state
Strategy stock securites investment 0.66% 30,844,129 frozen
legal person shares
fund
Bank of China－Dacheng Blue chip domestic non-state No pledge or
0.62% 28,991,103 frozen
securites investment fund legal person shares
DRAGON BILLION CHINA foreign legal No pledge or
0.59% 27,507,564
MASTER FUND person shares frozen
Top 10 holders of unconditional shares
Amount of shares Category of shares
Name of the shareholder without sales
restriction Category of shares Amount
China Changan Automobile Co., Ltd. 1,450,236,874 RMB Ordinary share 1,450,236,874
National Social Security Fund- Portfolio 102 60,014,324 RMB Ordinary share 60,014,324
Domestic listed foreign
United Prosperity Investment Co., Limited 45,195,100 45,195,100
shares
Domestic listed foreign
VALUE PARTNERS CLASSIC FUND 40,648,810 40,648,810
shares
China Life Insurance Co., Ltd - dividend - personal dividend
37,366,989 RMB Ordinary share 37,366,989
-005L-FH002 Shen
Domestic listed foreign
HTHK-MANULIFE CHINA VALUE FUND 34,519,781 34,519,781
shares
Agricultural Bank of China Dacheng innovation growth of hybrid
31,308,806 RMB Ordinary share 31,308,806
securities investment fund (LOF)
Bank of Communications－Hua’an Strategy stock securites
30,844,129 RMB Ordinary share 30,844,129
investment fund
Bank of China－Dacheng Blue chip securites investment fund 28,991,103 RMB Ordinary share 28,991,103
Domestic listed foreign
DRAGON BILLION CHINA MASTER FUND 27,507,564 27,507,564
shares
Among the top 10 shareholders, China Changan Automobile
Group Co., Ltd., the controlling shareholder, and its wholly
Explanation on the relationship and the action alike of above owned subsidiary United Prosperity Investment Co., Limited.
shareholders belong to the concerted actor regulated by “Disclosure
Administration of Shares Change Information of The Listed
Company”.
Whether the company top 10 shareholders of ordinary shares, and the top 10 circulated shareholders agreed on the repurchase
transactions during the report period
□Available √Non available
2.2.2 Total number of preferred shareholders at the end of the report period and statement on preferred shares held
by the top ten tradable shareholders
□Available √Non available
Chapter 3 Important Matters
3.1 Significant changes&reasons in major accounting data, financial indicators
In RMB Yuan
Balance Sheet Items Mar. 31st,2015 Jan. 1st, 2015 Changes (%)
1 Accounts receivable 1,548,140,513.10 758,876,190.82 104.00%
2 Other receivables 425,789,800.84 260,457,285.50 63.48%
3 Other current assets 2,143,319.45 3,370,219.83 -36.40%
4 Long-term deferred expenses 2,603,829.10 1,687,863.32 54.27%
5 Other non-current assets 220,777,273.92 60,901,712.09 262.51%
6 Payroll payable 546,717,874.07 1,022,369,664.80 -46.52%
7 Taxes payable 807,661,171.39 36,024,006.54 2142.01%
8 Interest payables 99,693,000.00 73,458,000.00 35.71%
9 Other payables 1,140,229,266.68 2,007,416,635.58 -43.20%
10 Special reserves 12,187,995.06 7,864,849.94 54.97%
Income Statement Items Jan-Mar 2015 Jan-Mar 2014 Changes (%)
11 Operating revenue 18,197,185,337.09 12,192,042,572.79 49.25%
12 Operating cost 15,455,790,245.73 10,289,165,280.48 50.21%
13 Business tax and surcharges 862,134,686.68 472,436,596.04 82.49%
14 General and administrative expenses 897,295,094.06 590,584,107.09 51.93%
15 Financial expenses -9,831,149.81 55,846,970.48 -117.60%
16 Impairment loss on assets 138,588.40 873,662.79 -84.14%
17 Non-operating income 183,195,663.93 37,895,842.68 383.42%
18 Income tax expense 110,290,285.35 -5,659,865.06 2048.64%
Cash Flow Statement Items Jan-Mar 2015 Jan-Mar 2014 Changes (%)
Net Cash flow generated by business
19 operation 2,773,784,253.36 355,294,998.59 681.00%
20 Net cash flow generated by investment -530,913,758.99 -852,944,951.40 38.00%
21 Net cash flow generated by financing 47,504,723.04 -52,325,815.51 191.00%
22 Net increase of cash and cash equivalents 2,295,470,823.30 -549,030,242.32 518.00%
As at the end of reporting period, the Company’s total asset is 75.5 Billion Yuan, with 8.11% growth compared with the beginning
of the year; the total liability is 47.6 Billion Yuan, with 7.53% growth compared with the beginning of the year; the debt asset ratio is
63.02%, which is 0.45% lower than that at the beginning of the year. Compared with beginning of the year, the huge increase of
accounts receivable is mainly due to the substantial growth on car sales; huge increase of other receivables is mainly due to the
expansion of business scale; huge increase of other non-current assets is mainly due to the newly received land this year; huge
reduction of Employees'' salary and benefits payable is mainly due to the payment of salary and bonus accrued last year; increase of tax
payable is mainly due to the increase of VAT payable and business income taxes; increase of interest payable is due to the increase of
bond interest payable; the decrease of other payable is due to the payment of expense, such as construction expense, processing
expense and advertising expense et al; increase of special reserve is due to the increase of safety production cost.
During the reporting period, as the sales volume of Changan automobile increased sharply, the operation revenue and
operating costs increased accordingly. The increase of business tax and surcharges was due to the increase of consumption tax resulting
from the growth of sales and the increased portion of cars charged with higher tax rate; the increase of administration expenses results
in the increase of employees'' salary and benefits; the decrease of financial expense is due to the repayment of loans to financial
institutions and the increase of interest return; the huge increase of non-operating income is due to the increase of government
subsidies; the increase of income tax expense is due to the decrease of the deferred income tax assets.
During the reporting period,
