Share’s code： 000550 Share’s Name： Jiangling Motors No.： 2026-015

200550 Jiangling B

Jiangling Motors Corporation Ltd.2026 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 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 Li Weihua and Chief of Finance Department

Jiang Nan confirm that the financial statements in this Quarter Report are

truthful accurate and complete.

3. Whether the 2026 first quarter report is audited

□Yes □No

§1 Brief Introduction

1. Main accounting data and financial indicators

Unit: RMB

Reporting Period Same Period YoY Change

(2026 First Quarter) Last Year (%)

Revenue 9035954941 7967428172 13.41%

Net Profit Attributable to the

34047034930599782111.27%

Equity Holders of the Company

Net Profit Attributable to

Shareholders of Listed Company

25207031214721414371.23%

After Deducting Non-Recurring

Profit or Loss

Net cash flows used in operating

-1988190685-2297115303-13.45%

activities

Basic Earnings Per Share (RMB) 0.40 0.35 14.29%

Diluted Earnings Per Share

0.400.3514.29%

(RMB)

Weighted Average Return on Net

2.87%2.67%0.20%

Asset Ratio (%)

1At the end of the At the end of the

Change (%)

reporting period previous year

Total Assets 29519669630 33725291097 -12.47%

Shareholder’s equity Attributable

to the Equity Holders of the 12039448329 11700238217 2.90%

Company

2. Non-recurring profit and loss items and amounts

□Applicable □Not Applicable

Unit: RMB

Reporting Period

(2026 First Quarter)

Profit and loss of non-current assets disposal (including

1803829.00

the charge-off part of the asset impairment provision)

Government subsidies included in the current profit and

102776334.00

loss

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 550327.00

as well as the investment income obtained from the

disposal of trading financial assets trading financial

liabilities and available for sale financial assets

Capital occupation fee charged for non-financial

757468.00

enterprises included in the current profit and loss

Other non-operating income and expenses except the

1106364.00

above

Less: Income tax impact amount 587179.00

Total 88400037.00

Details of other profit and loss items that meet the definition of non-recurring

profit and loss

□Applicable □Not Applicable

There is no other profit and loss items that meet the definition of non-recurring

profit and loss in the Company.The description of 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.

23. Causes and explanations on major changes of financial indicators of the

reporting period

□Applicable □Not Applicable

In the first quarter of 2026 JMC sold 86065 vehicles in total increased by

13.23% compared with the same period last year including 20290 light buses

17434 trucks 16017 pickups 32324 SUVs. Revenue and net profit

attributable to the equity holders of the Company during the reporting period

were RMB 9036 million and RMB 340 million increased by 13.41% and by

11.27% respectively compared with the same period last year.

As of the end of the first quarter of 2026 compared with the end of the

previous year cash and cash equivalents decreased by RMB 4282 million

down 31.52% mainly due to the payment to suppliers for goods and the

repayment of short-term borrowings.As of the end of the first quarter of 2026 compared with the end of the

previous year financing receivables decreased by RMB 129 million down

62.45% mainly due to use of bills of exchange to settle payments to suppliers.

As of the end of the first quarter of 2026 compared with the end of the

previous year development expenditures decreased by RMB 57.59 million

down 100% mainly due to the transfer of development expenditure into

intangible assets.As of the end of the first quarter of 2026 compared with the end of the

previous year short-term borrowings decreased by RMB 1950 million down

100% mainly due to the repayment of borrowings due.

As of the end of the first quarter of 2026 compared with the end of the

previous year notes payable decreased by RMB 231 million down 53.96%

mainly due to the payment of matured notes payable.As of the end of the first quarter of 2026 compared with the end of the

previous year taxes payable increased by RMB 52.18 million up 39.32%

mainly due to the increase in taxes payable at the end of the period.In the first quarter of 2026 compared with the same period last year net profit

attributable to shareholders of listed company after deducting non-recurring

profit or loss increased by RMB 105 million up 71.23% mainly due to the

increase in net profit for the current period and the impact of the change in

government incentives recognized in the current profit or loss.In the first quarter of 2026 compared with the same period last year net cash

flows used in financing activities increased by RMB 784 million up 66.78%

3mainly due to the decrease in borrowings compared to the same period.

§2 Shareholder Information

1. Total number of shareholders and top ten shareholders

Total shareholders JMC had 39866 shareholders including 34118 A-share holders and 5748

(as at March 31 2026) B-share holders.Top ten shareholders (excluding lending of shares through refinancing)

Shareholding Shares with Shares due to

Shareholder Shares at the

Shareholder Name Percentage Trading Mortgage or

Type End of Year

(%) Restriction Frozen or Mark

Nanchang Jiangling State-owned

41.03%35417600000

Investment Co. Ltd. legal person

Foreign legal

Ford Motor Company 32.00% 276228394 0 0

person

Hong Kong Securities

Foreign legal

Clearing Company Ltd. 0.74% 6347755 0 0

person

(HKSCC)

Industrial and Commercial

Bank of China Limited - Domestic

Guolian Superior Industry non-State-owned 0.64% 5538101 0 0

Mixed Securities legal persons

Investment Fund

Domestic natural

Jin Xin 0.57% 4957700 0 0

person

China Merchants Foreign legal

0.53%457347500

Securities (HK) Co. Ltd. person

China Merchants Fund

Domestic

Management Co. Ltd. -

non-State-owned 0.33% 2887500 0 0

Social Security Fund

legal persons

Portfolio 1903

Xingyin Wealth

Management Co. Ltd. -

Xingyin Wealth

Domestic

Management Fuli

non-State-owned 0.21% 1822248 0 0

Xingcheng Alpha 3-Month

legal persons

Holding Period No. 3

Mixed Wealth

Management Product

Domestic natural

Li Yifeng 0.20% 1713700 0 0

person

Domestic natural

Li Wei 0.17% 1481800 0 0

person

4Top ten shareholders holding unlimited tradable shares (excluding lending of shares through refinancing and

executive lock-up shares)

Shareholder Name Shares without Trading Share Type

Restriction

Nanchang Jiangling Investment Co. Ltd. 354176000 A share

Ford Motor Company 276228394 B share

Hong Kong Securities Clearing Company Ltd.

6347755 A share

(HKSCC)

Industrial and Commercial Bank of China

Limited - Guolian Superior Industry Mixed 5538101 A share

Securities Investment Fund

Jin Xin 4957700 B share

China Merchants Securities (HK) Co. Ltd. 4573475 B share

China Merchants Fund Management Co. Ltd.

2887500 A share

- Social Security Fund Portfolio 1903

Xingyin Wealth Management Co. Ltd. -

Xingyin Wealth Management Fuli Xingcheng

1822248 A share

Alpha 3-Month Holding Period No. 3 Mixed

Wealth Management Product

Li Yifeng 1713700 B share

Li Wei 1481800 B share

Notes on association among above-mentioned shareholders None.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

5§4 Financial Statements

Jiangling Motors Corporation Ltd.

1. CONSOLIDATED BALANCE SHEETS AS AT 31 MARCH 2026

(All amounts in RMB Yuan unless otherwise stated)

31 March 2026 31 December 2025

ASSETS

Consolidated* Consolidated

Current assets

Cash and cash equivalents 9300679338.00 13582540346.00

Financial assets held for trading 801698630.00 801902466.00

Notes receivable - -

Accounts receivable 6120085671.00 6141405767.00

Financing receivables 77287283.00 205851591.00

Advances to suppliers 133719000.00 98624060.00

Other receivables 114980531.00 134768377.00

Inventories 2326908694.00 2011925708.00

Current portion of non-current

26218111.0027153632.00

assets

Other current assets 1392889752.00 1194944928.00

Total current assets 20294467010.00 24199116875.00

Non-current assets

Long-term receivables 70953789.00 71519964.00

Long-term equity investments 175925628.00 203641921.00

Fixed assets 5637934604.00 5789423822.00

Construction in progress 517266693.00 507614873.00

Right-of-use assets 100985969.00 120243307.00

Intangible assets 1727976276.00 1790269138.00

Development expenditures - 57594483.00

Goodwill - -

Deferred tax assets 989983856.00 980954002.00

Other non-current assets 4175805.00 4912712.00

Total non-current assets 9225202620.00 9526174222.00

TOTAL ASSETS 29519669630.00 33725291097.00

Current liabilities

Short-term borrowings - 1950000000.00

Derivative financial liabilities 2966533.00 695349.00

Notes payable 196717903.00 427292904.00

Accounts payable 9649126263.00 11397760484.00

Contract liabilities 521700336.00 545864754.00

Employee benefits payable 559538189.00 729156434.00

Taxes payable 184878089.00 132698441.00

Other payables 5324552771.00 5803694871.00

Current portion of non-current

26675952.0091863024.00

liabilities

Other current liabilities 305020662.00 304431406.00

6Total current liabilities 16771176698.00 21383457667.00

Non-current liabilities

Long-term borrowings 453112.00 460276.00

Lease liabilities 38977681.00 44860116.00

Long-term employee benefits

49064694.0049853000.00

payable

Provisions 253465612.00 255436677.00

Deferred income 22635501.00 13406177.00

Deferred tax liabilities 172451207.00 123918738.00

Other non-current liabilities 482496414.00 461860038.00

Total non-current liabilities 1019544221.00 949795022.00

Non-current liabilities 17790720919.00 22333252689.00

Equity

Share capital 863214000.00 863214000.00

Capital surplus 839442490.00 839442490.00

Less: treasury shares 170214887.00 170214887.00

Other comprehensive income -23862000.00 -23862000.00

Special reserve 6600729.00 7860966.00

Surplus reserve 431607000.00 431607000.00

Retained earnings 10092660997.00 9752190648.00

Total equity attributable to

12039448329.0011700238217.00

shareholders of the Company

Minority interests -310499618.00 -308199809.00

Total equity 11728948711.00 11392038408.00

TOTAL LIABILITIES AND

29519669630.0033725291097.00

EQUITY

*: Unaudited financial indexes

72. CONSOLIDATED INCOME STATEMENTS FOR 2026 First Quarter

(All amounts in RMB Yuan unless otherwise stated)

2026 First 2025 First

Item Quarter Quarter

Consolidated* Consolidated*

Total Revenue 9035954941.00 7967428172.00

Revenue 9035954941.00 7967428172.00

Total Cost of sales 8943196077.00 7938917337.00

including: Cost of sales 7973087616.00 7026678337.00

Taxes and surcharges 244526230.00 220477781.00

Selling and distribution expenses 215668207.00 206935409.00

General and administrative expenses 195679165.00 233118499.00

Research and development expenses 338131010.00 286230316.00

Financial expenses -23896151.00 -34523005.00

Including: Interest expenses 1919478.00 4581629.00

Interest income -21535404.00 -45901253.00

Add: Other income 291393905.00 303719670.00

Investment income 1558988.00 -4990750.00

Including: Share of profit of associates

-1090894.00-10142171.00

and joint ventures

Gains on changes in fair value 285346.00 -3911506.00

Credit impairment losses -2071545.00 -357720.00

Asset impairment losses -6068284.00 -

Gains on disposal of assets -641409.00 -1481340.00

Operating profit 377215865.00 321489189.00

Add: Non-operating income 647664.00 820017.00

Less: Non-operating expenses 148.00 37763.00

Total profit 377863381.00 322271443.00

Less: Income tax expenses 39692841.00 12889815.00

Net profit 338170540.00 309381628.00

Classified by continuity of operations

Net profit from continuing operations 338170540.00 309381628.00

Net profit from discontinued

--

operations

Classified by ownership of the equity

Attributable to shareholders of the

340470349.00305997821.00

Company

Minority interests -2299809.00 3383807.00

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

8Changes arising from remeasurement

--

of defined benefit plan

Attributable to minority interests - -

Total comprehensive income 338170540.00 309381628.00

Attributable to shareholders of the

340470349.00305997821.00

Company

Attributable to minority interests -2299809.00 3383807.00

Earnings per share

Basic earnings per share (RMB Yuan) 0.40 0.35

Diluted earnings per share (RMB

0.400.35

Yuan)

*: Unaudited financial indexes

93. CONSOLIDATED CASH FLOW STATEMENTS FOR 2026 First Quarter

(All amounts in RMB Yuan unless otherwise stated)

2026 First Quarter 2025 First Quarter

Item

Consolidated* Consolidated*

Cash flows used in operating

activities

Cash received from sales of goods or

9974794616.008486465921.00

rendering of services

Cash received relating to other

126225322.00233583856.00

operating activities

Sub-total of cash inflows 10101019938.00 8720049777.00

Cash paid for goods and services 10106659288.00 8798857074.00

Cash paid to and on behalf of

867022391.00827598134.00

employees

Payments of taxes and surcharges 498068438.00 613654707.00

Cash paid relating to other operating

617460506.00777055165.00

activities

Sub-total of cash outflows 12089210623.00 11017165080.00

Net cash flows used in operating

-1988190685.00-2297115303.00

activities

Cash flows used in investing

activities

Cash received from returns of

829010300.00-

investments

Cash received from disposal on

3327123.00-

investments

Net cash received from disposal of

fixed assets intangible assets and 4700976.00 2487411.00

other long-term assets

Cash received relating to other

22967087.0044139550.00

investing activities

Sub-total of cash inflows 860005486.00 46626961.00

Cash paid to acquire fixed assets

intangible assets and other long-term 396692801.00 330053827.00

assets

Cash paid to acquire investments 800000000.00 55000000.00

Cash paid relating to other investing

155437.0027661.00

activities

Sub-total of cash outflows 1196848238.00 385081488.00

Net cash flows used in investing

-336842752.00-338454527.00

activities

Cash flows used in financing

activities

Cash received from borrowings 499584445.00 1784325555.00

10Cash received from other financing

--

activities

Sub-total of cash inflows 499584445.00 1784325555.00

Cash repayments of borrowings 2450000000.00 2950000000.00

Cash payments for distribution of

150000.00-

dividends profits or interest expenses

Cash paid relating to other financing

6282021.007629534.00

activities

Sub-total of cash outflows 2456432021.00 2957629534.00

Net cash flows used in financing

-1956847576.00-1173303979.00

activities

Effect of foreign exchange rate

--

changes on cash and cash equivalents

Net decrease in cash and cash

-4281881013.00-3808873809.00

equivalents

Add: Cash and cash equivalents at

13491154200.0012475176009.00

beginning of year

Cash and cash equivalents at end of

9209273187.008666302200.00

period

*: Unaudited financial indexes

2. In 2026 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 2026 first quarter report is audited

□Yes □No

JMC 2026 First Quarter Report is not audited.Board of Directors

Jiangling Motors Corporation Ltd.April 25 2026

11