Changchai Company Limited Quarterly Report for the Third Quarter Ended September 30 2025
Stock code: 000570、200570 Stock name: Changchai Changchai B Announcement Number: 2025-043
CHANGCHAI COMPANY LIMITED
Quarterly Report for the Third Quarter Ended 30 September 2025
The company and all members of the board of directors guarantee that the information disclosed is true
accurate and complete without false records misleading statements or significant omissions.Important Notes:
1. The Board of Directors the Board of Supervisors as well as all directors supervisors and senior management
members guarantee the truthfulness accuracy and completeness of the quarterly report and affirm that there are
no false records misleading statements or material omissions and assume individual and joint legal liabilities.
2. The principal of the Company the person in charge of accounting work and the head of the accounting
function (the accountant in charge) hereby declare: we guarantee the truthfulness accuracy and completeness of
the financial information in the quarterly report.
3. Whether the quarterly financial report is audited.
□YesNo
1Changchai Company Limited Quarterly Report for the Third Quarter Ended September 30 2025
I. Key Financial Information
1. Major Accounting Data and Financial Indicators
Whether the Company Needs to Retrospectively Adjust or Restate Prior Years' Accounting Data
□YesNo
For the Period
1 January to 30 Change from the from the Year-to-Date
September 2025 Prior-Year Period Beginning of the Change from theYear to the Prior-Year Period
Report Date
Operating revenue
(RMB) 501193579.88 8.47% 2062380205.71 5.33%
Net profit attributable to
the listed company’s -28933980.40 —— 44488834.29 -4.03%
shareholders (RMB)
Net profit attributable to
the listed company’s
shareholders before -40744294.49 —— 15553206.10 -63.52%
exceptional gains and
losses (RMB)
Net cash generated
from/used in operating — — -214915731.64 ——
activities (RMB)
Basic earnings per share
(RMB/share) -0.0410 —— 0.0630 -4.11%
Diluted earnings per
share (RMB/share) -0.0410 —— 0.0630 -4.11%
Weighted average return
on equity (%) -0.87% -0.76% 1.31% -0.03%
30 September 2025 31 December 2024 Change of 30 September 2025 over 31December 2024
Total assets (RMB) 5304953033.41 5381900903.82 -1.43%
Equity attributable to the
listed company’s 3436848581.25 3362683464.32 2.21%
shareholders (RMB)
2. Exceptional Gains and Losses
Applicable□Not applicable
Unit: RMB
For the Period
1 January to from the
Item 30 September Beginning of Note
2025 the Year to the
Report Date
Gain/loss on disposal of non-current assets
(including the reversal of provision for asset 3737610.21 6534963.52
impairment)
Government subsidies recognized in current
profit or loss (excluding government
subsidies that are closely related to the 436000.00 500535.00
Company’s normal business operations
2Changchai Company Limited Quarterly Report for the Third Quarter Ended September 30 2025
comply with state policies are granted on a
fixed basis and have a sustained impact on
the Company’s profit or loss)
This was primarily
attributable to wealth
management income
generated from the
Company's cash
management activities
Gain/loss from fair value change and during the reporting period
disposal of financial assets and liabilities as well as the increase in the
held by non-financial enterprises excluding 11057599.48 29941691.92 fair value of shares in
effective hedging activities related to the Jiangsu Liance
Company’s normal business operations Electromechanical
Technology Co. Ltd. and
Kailong High-tech Co. Ltd.held by the Company's
wholly-owned subsidiary
Changzhou Horizon
Investment Co. Ltd.Other non-operating income and expenses
excluding those listed above -49585.97 63830.20
Less: income tax effect 3187360.63 7921259.25
Effect of non-controlling interests
(after tax) 183949.00 184133.20
Total 11810314.09 28935628.19 --
Particulars about other items that meet the definition of exceptional gain/loss:
□Applicable Not applicable
No such cases for the Reporting Period.Explanation of why the Company reclassifies as recurrent an exceptional gain/loss item listed in the
Explanatory Announcement No. 1 on Information Disclosure for Companies Offering Their Securities to the
Public—Exceptional Gain/Loss Items:
□Applicable Not applicable
No such cases for the Reporting Period.
3. The situation and reasons for changes in major accounting data and financial indicators
Applicable□Not applicable
(1) Consolidated balance sheet items
Period-over-
Items Opening balance Closing balance(RMB) (RMB) Period Reason for changeIncrease/Decrease
This was mainly due to a
decrease in bank acceptance
Notes 185025144.93 318814017.13 -41.96% bills with lower credit ratingsreceivable held endorsed and discounted
but not yet matured during the
reporting period.
3Changchai Company Limited Quarterly Report for the Third Quarter Ended September 30 2025
This was primarily attributable
to a significant increase in
accounts receivable resulting
from the relatively longer
payment terms offered to most
multi-cylinder engine
Accounts 1297751107.73 444254240.02 192.12% customers (who are primarilyReceivable main engine suppliers) coupled
with the Company's intensified
market expansion efforts and
appropriate extension of credit
terms to promote product
emission upgrades during the
period.This was mainly due to a
Accounts decrease in bank acceptance
Receivable 30774397.57 223261002.76 -86.22% bills with higher credit ratings
Financing held by the Company during the
reporting period.This was primarily due to
Dividends dividends received from
Receivable 0.00 7165080.00 -100.00% Jiangsu Bank during the
reporting period.This was mainly a result of
increased product sales during
Inventories 519685065.75 819201998.42 -36.56% the reporting period whichconsumed the finished goods
inventory reserved at the
beginning of the period.This was primarily due to a
Other current
assets 19392495.71 54605021.67 -64.49%
decrease in the VAT credit
balance during the reporting
period.This was mainly due to
Construction in 5310370.71 3376866.69 57.26% increased investment in theprogress Company's technical renovation
projects.This was primarily due to the
increase in accounts receivable
Deferred during the reporting period
income tax 9089877.61 6458337.99 40.75% which correspondingly
assets increased the deferred tax assets
arising from the provision for
bad debts.This was mainly due to the
Short-term maturity of bank acceptance
borrowings 25099600.00 94471787.41 -73.43% bills with lower credit ratingsthat were discounted at the
beginning of the period.This was primarily due to the
Employee payment of accrued salaries and
benefits payable 12162161.16 48792254.98 -75.07% bonuses from the prior periodmade during the reporting
period.
4Changchai Company Limited Quarterly Report for the Third Quarter Ended September 30 2025
This was mainly due to the
Other current settlement of transferred bills
liabilities 119980483.28 175064677.93 -31.47% with lower credit ratings thatwere not yet matured at the
beginning of the period.
(2) Consolidated income statement items
For the Period
1 January to 30 from the Period-over-
Items September 2025 Beginning of the Period Reason for change
(RMB) Year to theReport Date Increase/Decrease
(RMB)
This was due to the additional
VAT credit deductions enjoyed
Other income 8360520.25 2979040.74 180.64% by the Company under theadvanced manufacturing industry
policy during the reporting
period.This was due to a year-on-year
Investment decrease in interest income from
income 8990865.29 15776718.57 -43.01% financial assets at fair valuethrough profit or loss during the
reporting period.This was due to an increase in
the fair value of shares in Jiangsu
Liance Electromechanical
Gain on Technology Co. Ltd. and
changes in fair 24996914.55 -25457675.31 —— Kailong High-tech Co. Ltd. held
value by the Company's wholly-owned
subsidiary Changzhou Horizon
Investment Co. Ltd. during the
reporting period.This was primarily due to an
Credit increase in the provision for
impairment loss -18195218.29 -12325470.52 —— credit losses corresponding to theincrease in accounts receivable
during the reporting period.This was mainly due to a year-
Asset on-year increase in the provision
impairment loss -1007978.86 -460315.31 —— for impairment of assets such asinventory during the reporting
period.This was primarily due to a year-
Asset disposal on-year increase in the gain on
income 6534963.52 216118.22 2923.79% disposal of property plant andequipment during the reporting
period.This was primarily because the
Company received equipment
Non-operating compensation from an insurance
Income 318597.79 1406648.75 -77.35% company in the prior periodwhereas no such event occurred
during the current reporting
period.
5Changchai Company Limited Quarterly Report for the Third Quarter Ended September 30 2025
This was mainly due to a year-
Non-operating
expense 254767.59 374991.89 -32.06%
on-year decrease in loss on
disposal of assets during the
reporting period.This was primarily due to an
Income tax increase in total profit and
expense 12551255.73 6488637.31 93.43% changes in deferred tax assetsand deferred tax liabilities during
the reporting period.
(3) Consolidated cash flow statement items
For the Period
1 January to 30 from the
Items September 2025 Beginning of the
Period-over-
Year to the Period Reason for change(RMB) Report Date Increase/Decrease
(RMB)
This was primarily due to the
Net cash Company's strategy of
generated used
in operating -214915731.64 -310803424.34 ——
prioritizing the consumption of
reserved inventory which led to
activities a year-on-year decrease in cash
paid for the purchase of goods.Subtotal of cash This was due to a year-on-year
from/used in 26957326.97 -196693373.04 —— increase in the maturity ofinvesting wealth management products
activities during the reporting period.Net cash This was mainly attributable to
generated used -7056925.07 -33167547.83 —— the decrease in cash dividendsin financing distributed by the Company
activities during the reporting period.II. Shareholder Information
1.Table of Ordinary Shareholders and Shareholders with Restored Voting Rights of Preferred Shares
and Shareholding Details of the Top 10 Shareholders
Unit: share
Number of ordinary 47570 Number of preferred shareholders withshareholders resumed voting rights 0
Shareholding situation of the top 10 shareholders (excluding shares lent through refinancing)
Number of Restricted shares held
shares
Name of Nature of Total shares with
shareholder sharehold
Shareholding
er percentage
held at the limited
period-end selling Status Shares
conditions
held
Changzhou State-
Investment owned 32.26% 227663417
Group Co. Ltd. legalperson 0 Not applicable 0
Chen Jian Domesticnatural 0.71% 4998000
6Changchai Company Limited Quarterly Report for the Third Quarter Ended September 30 2025
person
KGI ASIA Overseas
LIMITED legal 0.44% 3100195entity
Industrial and
Commercial
Bank of China
Limited-
Huashang
LeXiang Internet Others 0.41% 2895200
Flexible
Allocation
Hybrid
Securities
Investment Fund
Domestic
Wang Defu natural 0.29% 2062800
person
China Minsheng
Bank Co. Ltd.-
Jinyuan Shun'an
Yuanqi Flexible
Allocation Others 0.25% 1752900
Hybrid
Securities
Investment Fund
Domestic
Li Suinan natural 0.23% 1602000
person
Domestic
Zhang Wenbing natural 0.22% 1550000
person
Domestic
Huang Guoliang natural 0.22% 1547891
person
Domestic
Wen Huichang natural 0.22% 1546201
person
Top 10 unrestricted shareholders（Excluding shares lent through refinancing and executive lock up shares）
Name of shareholder Unrestricted shares held at the period-end Shares by typeType Shares
Changzhou Investment Group RMB-
Co. Ltd. 227663417 denominated 227663417Ordinary Shares
RMB-
Chen Jian 4998000 denominated 4998000
Ordinary Shares
Domestic Listed
KGI ASIA LIMITED 3100195 Foreign-Investment 3100195
Shares
Industrial and Commercial RMB-
Bank of China Limited- denominated
Huashang LeXiang Internet 2895200 Ordinary Shares 2895200
Flexible Allocation Hybrid
Securities Investment Fund
7Changchai Company Limited Quarterly Report for the Third Quarter Ended September 30 2025
RMB-
Wang Defu 2062800 denominated 2062800
Ordinary Shares
China Minsheng Bank Co.Ltd.- Jinyuan Shun'an Yuanqi RMB-
Flexible Allocation Hybrid 1752900 denominated 1752900
Securities Investment Fund Ordinary Shares
Domestic Listed
Li Suinan 1602000 Foreign-Investment 1602000
Shares
RMB-
Zhang Wenbing 1550000 denominated 1550000
Ordinary Shares
Domestic Listed
Huang Guoliang 1547891 Foreign-Investment 1547891
Shares
RMB-
Wen Huichang 1546201 denominated 1546201
Ordinary Shares
It is unknown whether any connected relationships exist
Explanation of the connected relationships or among the Company's top 10 tradable shareholders or the
acting-in-concert among the abovementioned Company's top 10 unrestricted tradable shareholders or
shareholders. whether they constitute persons acting in concert as definedin the "Administrative Measures for the Takeover of Listed
Companies".Description of the top 10 shareholders' Shareholders Chen Jian Wang Defu and Wen Huichang held
involvement in margin trading and securities 4998000 shares 2062800 shares and 1391101 shares of
lending business (if any). the Company respectively through their margin tradingaccounts.Share lending through the securities lending program by shareholders holding more than 5% of shares top 10
shareholders and top 10 unrestricted tradable shareholders
□Applicable Not applicable
Changes in the top 10 shareholders and top 10 unrestricted tradable shareholders compared to the prior period
due to share lending/returning activities under the securities lending program
□Applicable Not applicable
2. Table of Total Number of Preferred Shareholders and Shareholding Status of the Top 10 Preferred
Shareholders in the Company
□Applicable Not applicable
III. Other important matters
Applicable□Not applicable
1. Expropriation and Compensation for Partial Premises (Street-Level Commercial Properties) at Company
Headquarters
On February 26 2025 the Company received the "Announcement on Publishing the 'Expropriation and
Compensation Plan for the Premises of the West Hengjie Station Project of Changzhou Urban Rail Transit Line
5' for Soliciting Public Comments" issued by the Changzhou Zhonglou District People's Government. Due to
public interest needs the Changzhou Zhonglou District People's Government proposed to expropriate certain
8Changchai Company Limited Quarterly Report for the Third Quarter Ended September 30 2025
premises located at No. 123 Huaide Middle Road Changzhou (specifically the street-level commercial
properties at the Company's headquarters). On July 21 2025 the Company convened the Fourth Ad Hoc
Meeting of the Board of Directors in 2025 and the Third Ad Hoc Meeting of the Board of Supervisors in 2025
which reviewed and approved the "Proposal on Signing the 'Expropriation and Compensation Agreement for
State-Owned Land Premises in Changzhou' for the Street-Level Commercial Properties at the Headquarters".This matter was further reviewed and approved at the Second Interim Shareholders' Meeting in 2025 on August
6 2025 authorizing the Company to sign the compensation agreement with the Zhonglou District Housing and
Urban-Rural Development Bureau. The total agreed compensation amount is RMB 48.7877 million. On August
7 2025 the Company signed the "Expropriation and Compensation Agreement for State-Owned Land Premises
in Changzhou" with the Changzhou Zhonglou District Housing and Urban-Rural Development Bureau. The
Company received the first compensation payment totaling RMB 14.6363 million in September 2025.
2. Expropriation and Compensation for the Company's Foundry Plant
On March 6 2025 the Company received the Expropriation Decision for State-Owned Land and Buildings
(Chang Xin Zheng [2025] No. 1) issued by the People's Government of Xinbei District Changzhou. Due to
public interest requirements for urban redevelopment the Xinbei District Government decided to expropriate
buildings within the scope of the Sanjing Subdistrict Foundry Plant and surrounding area urban renewal project
(Phase I).On May 8 2025 the Company convened the Second Interim Board Meeting and Second Interim
Supervisory Committee Meeting of 2025 approving the Proposal on Signing the Expropriation Compensation
Agreement for Non-Residential Buildings in Xinbei District Changzhou. The matter was further approved at
the First Interim Shareholders' Meeting of 2025 on May 26 2025 authorizing the Company to sign a
compensation agreement with the Xinbei District Housing and Urban-Rural Development Bureau and Sanjing
Subdistrict with a total compensation amount of RMB 346.8569 million. The final signing of the expropriation
agreement is pending completion of approval procedures by the Xinbei District Housing and Urban-Rural
Development Bureau and the Sanjing Subdistrict Expropriation and Compensation Service Center.
3. Merger of Changniu Company with Changchai Benniu
On June 9 2025 the Company convened the Third Ad Hoc Meeting of the Board of Directors in 2025
which reviewed and approved the "Proposal on the Merger of Changzhou Changzhou Changchai Benniu Diesel
Engine Fittings Co. Ltd. and Changzhou Changniu Machinery Co. Ltd.". The Board of Directors approved the
merger whereby Changzhou Changniu Machinery Co. Ltd. (hereinafter referred to as "Changniu Company")
would absorb and merge all assets liabilities business and all other rights and obligations of Changzhou
Changchai Benniu Diesel Engine Fittings Co. Ltd. (hereinafter referred to as "Changchai Benniu") through a
statutory merger and would succeed to the original registered capital equity structure and governance structure
of Changchai Benniu. In September 2025 the Company received the Registration Notice (Deng Zi [2025] No.
09080200) and the Registration Notice (Deng Zi [2025] No. 09080101) issued by the Government Services
Management Office of Changzhou High-Tech District (Xinbei District). Following the issuance of these notices
Changchai Benniu completed the industrial and commercial deregistration and Changniu Company completed
the industrial and commercial change registration marking the completion of the merger.
9Changchai Company Limited Quarterly Report for the Third Quarter Ended September 30 2025
IV. Quarterly financial statements
1. Financial statements
(1) Consolidated Balance Sheet
Prepared by Changchai Company Limited
30 September 2025
Unit: RMB
Item 30 September 2025 1 January 2025
Current assets:
Monetary assets 756026860.70 1063700492.59
Settlement reserve
Interbank loans granted
Held-for-trading financial assets 359545850.30 303667459.65
Derivative financial assets
Notes receivable 185025144.93 318814017.13
Accounts receivable 1297751107.73 444254240.02
Accounts receivable financing 30774397.57 223261002.76
Prepayments 13134882.34 12725958.70
Premiums receivable
Reinsurance receivables
Receivable reinsurance contract
reserve
Other receivables 6986032.24 9847441.82
Including: Interest receivable
Dividends receivable 0.00 7165080.00
Financial assets purchased under
resale agreements
Inventories 519685065.75 819201998.42
Including: Data resources
Contract assets
Assets held for sale
Current portion of non-current
assets
Other current assets 19392495.71 54605021.67
Total current assets 3188321837.27 3250077632.76
Non-current assets:
Loans and advances to
customers
Investments in debt obligations
Investments in other debt
obligations
Long-term receivables
Long-term equity investments
Investments in other equity
instruments 979269058.72 941120058.72
Other non-current financial
assets 377869217.49 377869217.49
10Changchai Company Limited Quarterly Report for the Third Quarter Ended September 30 2025
Investment property 36168309.38 37740844.55
Fixed assets 563356674.99 615414505.40
Construction in progress 5310370.71 3376866.69
Productive living assets
Oil and gas assets
Right-of-use assets
Intangible assets 138212282.43 142805785.86
Including: Data resources
Development costs
Including: Data resources
Goodwill
Long-term prepaid expense 2626430.98 2664557.06
Deferred income tax assets 9089877.61 6458337.99
Other non-current assets 4728973.83 4373097.30
Total non-current assets 2116631196.14 2131823271.06
Total assets 5304953033.41 5381900903.82
Current liabilities:
Short-term borrowings 25099600.00 94471787.41
Borrowings from the central
bank
Interbank loans obtained
Held-for-trading financial
liabilities
Derivative financial liabilities
Notes payable 551333195.52 491643629.88
Accounts payable 609570257.00 690733575.75
Advances from customers 30228372.08 30183376.84
Contract liabilities 31067105.78 31640879.59
Financial assets sold under
repurchase agreements
Customer deposits and interbank
deposits
Payables for acting trading of
securities
Payables for underwriting of
securities
Employee benefits payable 12162161.16 48792254.98
Taxes payable 3852707.03 4214324.70
Other payables 134264866.57 117736961.52
Including: Interest payable
Dividends payable 3891433.83 3891433.83
Handling charges and
commissions payable
Reinsurance payables
Liabilities directly associated
with assets held for sale
Current portion of non-current
liabilities
Other current liabilities 119980483.28 175064677.93
Total current liabilities 1517558748.42 1684481468.60
11Changchai Company Limited Quarterly Report for the Third Quarter Ended September 30 2025
Non-current liabilities:
Insurance contract reserve
Long-term borrowings
Bonds payable
Including: Preferred shares
Perpetual bonds
Lease liabilities
Long-term payables
Long-term employee benefits
payable
Provisions 76487940.00 73002860.52
Deferred income 26828869.92 29386167.02
Deferred income tax liabilities 165958379.13 154449852.33
Other non-current liabilities
Total non-current liabilities 269275189.05 256838879.87
Total liabilities 1786833937.47 1941320348.47
Shareholders’ equity:
Share capital 705692507.00 705692507.00
Other equity instruments
Including: Preferred shares
Perpetual bonds
Capital reserves 640509675.84 640509675.84
Less: Treasury stock
Other comprehensive income 675494199.91 643067549.91
Specific reserve 26265624.06 21959066.35
Surplus reserves 367826665.27 367826665.27
General reserve
Retained earnings 1021059909.17 983627999.95
Total equity attributable to
Shareholders of the Company as 3436848581.25 3362683464.32
the parent
Non-controlling interests 81270514.69 77897091.03
Total shareholders’ equity 3518119095.94 3440580555.35
Total liabilities and shareholders’
equity 5304953033.41 5381900903.82
Legal representative: Xie Guozhong General Manager: Xie Guozhong
Head of the accounting department: Jiang He
12Changchai Company Limited Quarterly Report for the Third Quarter Ended September 30 2025
(2) Consolidated Income Statement
Unit: RMB
Item Reporting Period Same period of lastyear
1. Revenue 2062380205.71 1957966927.25
Including: Operating revenue 2062380205.71 1957966927.25
Interest income
Insurance premium income
Handling charge and commission income
2. Costs and expenses 2029066392.77 1880745679.29
Including: Cost of sales 1833062266.84 1694864992.30
Interest expense
Handling charge and commission expense
Surrenders
Net insurance claims paid
Net amount provided as insurance contract reserve
Expenditure on policy dividends
Reinsurance premium expense
Taxes and surcharges 13610258.26 12703429.37
Selling expense 49946364.14 44848837.75
Administrative expense 81173540.77 81859808.25
R&D expense 58237672.87 56217764.59
Finance costs -6963710.11 -9749152.97
Including: Interest expense 1847351.42 1893598.30
Interest income 7889599.20 8523735.87
Add: Other income 8360520.25 2979040.74
Return on investment (“-” for loss) 8990865.29 15776718.57
Including: Share of profit or loss of joint ventures
and associates
Income from the derecognition of financial
assets at amortized cost (“-” for loss)
Exchange gain (“-” for loss)
Net gain on exposure hedges (“-” for loss)
Gain on changes in fair value (“-” for loss) 24996914.55 -25457675.31
Credit impairment loss (“-” for loss) -18195218.29 -12325470.52
Asset impairment loss (“-” for loss) -1007978.86 -460315.31
Asset disposal income (“-” for loss) 6534963.52 216118.22
3. Operating profit (“-” for loss) 62993879.40 57949664.35
Add: Non-operating income 318597.79 1406648.75
Less: Non-operating expense 254767.59 374991.89
4. Profit before tax (“-” for loss) 63057709.60 58981321.21
Less: Income tax expense 12551255.73 6488637.31
5. Net profit (“-” for net loss) 50506453.87 52492683.90
5.1 By operating continuity
13Changchai Company Limited Quarterly Report for the Third Quarter Ended September 30 2025
5.1.1 Net profit from continuing operations (“-” for net
loss) 50506453.87 52492683.90
5.1.2 Net profit from discontinued operations (“-” for net
loss)
5.2 By shareholders’ equity
5.2.1 Net profit attributable to shareholders of the Company
as the parent 44488834.29 46357441.50
5.2.2 Net profit attributable to non-controlling interests 6017619.58 6135242.40
6. Other comprehensive income net of tax 32426650.00 34011900.00
Attributable to shareholders of the Company as the parent 32426650.00 34011900.00
6.1 Items that will not be reclassified to profit or loss 32426650.00 34011900.00
6.1.1 Changes caused by remeasurements on defined
benefit schemes
6.1.2 Other comprehensive income that will not be
reclassified to profit or loss under the equity method
6.1.3 Changes in the fair value of investments in other
equity instruments 32426650.00 34011900.00
6.1.4 Changes in the fair value arising from changes in
own credit risk
6.1.5 Other
6.2 Items that will be reclassified to profit or loss
6.2.1 Other comprehensive income that will be
reclassified to profit or loss under the equity method
6.2.2 Changes in the fair value of investments in other
debt obligations
6.2.3 Other comprehensive income arising from the
reclassification of financial assets
6.2.4 Credit impairment allowance for investments in
other debt obligations
6.2.5 Reserve for cash flow hedges
6.2.6 Differences arising from the translation of foreign
currency-denominated financial statements
6.2.7 Other
Attributable to non-controlling interests
7. Total comprehensive income 82933103.87 86504583.90
Attributable to shareholders of the Company as the parent 76915484.29 80369341.50
Attributable to non-controlling interests 6017619.58 6135242.40
8. Earnings per share
8.1 Basic earnings per share 0.0630 0.0657
8.2 Diluted earnings per share 0.0630 0.0657
Legal representative: Xie Guozhong General Manager: Xie Guozhong
Head of the accounting department: Jiang He
14Changchai Company Limited Quarterly Report for the Third Quarter Ended September 30 2025
(3) Consolidated Cash Flow Statement
Unit: RMB
Item Reporting Period Same period of lastyear
1. Cash flows from operating activities:
Proceeds from sale of commodities and rendering of services 1288866932.65 1322840250.44
Net increase in customer deposits and interbank deposits
Net increase in borrowings from the central bank
Net increase in loans from other financial institutions
Premiums received on original insurance contracts
Net proceeds from reinsurance
Net increase in deposits and investments of policy holders
Interest handling charges and commissions received
Net increase in interbank loans obtained
Net increase in proceeds from repurchase transactions
Net proceeds from acting trading of securities
Tax rebates 43208363.86 16822139.93
Cash generated from other operating activities 21225261.73 13568763.22
Subtotal of cash generated from operating activities 1353300558.24 1353231153.59
Payments for commodities and services 1150213213.74 1263331531.66
Net increase in loans and advances to customers
Net increase in deposits in the central bank and in interbank
loans granted
Payments for claims on original insurance contracts
Net increase in interbank loans granted
Interest handling charges and commissions paid
Policy dividends paid
Cash paid to and for employees 238938690.91 224982336.51
Taxes paid 52976271.62 45480904.08
Cash used in other operating activities 126088113.61 130239805.68
Subtotal of cash used in operating activities 1568216289.88 1664034577.93
Net cash generated used in operating activities -214915731.64 -310803424.34
2. Cash flows from investing activities:
Proceeds from disinvestment 990373006.37 601500000.00
Return on investment 12999882.94 15776718.57
Net proceeds from the disposal of fixed assets intangible
assets and other long-lived assets 4079340.22 76476578.33
Net proceeds from the disposal of subsidiaries and other
business units
Cash generated from other investing activities
Subtotal of cash generated from investing activities 1007452229.53 693753296.90
Payments for the acquisition of fixed assets intangible assets
and other long-lived assets 5941402.56 14652345.94
Payments for investments 974553500.00 875794324.00
Net increase in pledged loans granted
15Changchai Company Limited Quarterly Report for the Third Quarter Ended September 30 2025
Net payments for the acquisition of subsidiaries and other
business units
Cash used in other investing activities
Subtotal of cash used in investing activities 980494902.56 890446669.94
Net cash generated from/used in investing activities 26957326.97 -196693373.04
3. Cash flows from financing activities:
Capital contributions received
Including: Capital contributions by non-controlling interests
to subsidiaries
Borrowings raised
Cash generated from other financing activities
Subtotal of cash generated from financing activities
Repayment of borrowings
Interest and dividends paid 7056925.07 33167547.83
Including: Dividends paid by subsidiaries to non-
controlling interests
Cash used in other financing activities
Subtotal of cash used in financing activities 7056925.07 33167547.83
Net cash generated used in financing activities -7056925.07 -33167547.83
4. Effect of foreign exchange rates changes on cash and cash
equivalents
5. Net increase in cash and cash equivalents -195015329.74 -540664345.21
Add: Cash and cash equivalents beginning of the period 892681884.84 971629523.46
6. Cash and cash equivalents end of the period 697666555.10 430965178.25
Legal representative: Xie Guozhong General Manager: Xie Guozhong
Head of the accounting department: Jiang He
16Changchai Company Limited Quarterly Report for the Third Quarter Ended September 30 2025
2. Initial application of new accounting standards effective from 2025 and adjustments to the status of
relevant items in the financial statements as of the beginning of the current year
□Applicable Not Applicable
3. Audit Reports
Whether the Third-Quarter Financial Report Is Audited
□YesNo
The Company's third-quarter financial report is unaudited.The Board of Directors
Changchai Company Limited
30 October 2025
17
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