2020 First Quarter Report
Of
Chongqing Changan Automobile Company Limited
April 2020
Chapter 1 Important Notes
The Board of Directors the Supervisory Committee and directors supervisors and seniormanagement of Chongqing Changan Automobile Company Limited (hereinafter referred to as “the
Company”) hereby guarantee that no false or misleading statement or major omission was made to
the materials in this report and that they will assume all the responsibilities individually and jointly
for the trueness accuracy and completeness of the contents of this report.
All directors attended the board meeting for reviewing the first quarter report.
The Chairman of the Board Zhang Baolin the Chief Financial Officer Zhang Deyong and the
responsible person of the accounting institution (Accountant in charge) Chen Jianfeng hereby
declare that the Financial Statements enclosed in this annual report are true accurate and complete.The report shall be presented in both Chinese and English and should there be any conflicting
understanding of the text the Chinese version shall prevail.
Chapter 2 Basic Information
I. Main accounting data and financial indicators
Does the company conduct the retrospective adjustment or restatement of previous years accounting data due to changes in
accounting policies or accounting errors
□Yes √No
In RMB Yuan
The reporting period The same period of last year Variance (%)
Operating income 11564077463.34 16007950602.50 -27.76%
Net profit attributable to shareholders of the Company 631077888.63 -2096352326.12 130.10%
Net profit excluding non-recurring gains and losses
attributable to shareholders of listed company
-1793324817.62 -2161147810.27 17.02%
cash flow from operating activities 4155344266.52 3258788381.35 27.51%
Basic earnings per share 0.13 -0.44 129.55%
Diluted earnings per share N/A N/A N/A
Weighted average return on net assets 1.42% -4.62% Up 6.04 Points
The reporting period End of 2019 Variance (%)
Total assets 95283479873.92 97617053590.38 -2.39%
Net assets attributable to shareholders of listed
company
44682600151.16 44028312743.66 1.49%
Accidental gain/loss item and amount
√ Applicable □ Not applicable
In RMB Yuan
Item
Amount of the period from the
beginning of year to the end of
report term
Explanation
Gain/loss of non-current assets 1354464.30
Government subsidies accounted into current gain/loss account other than
those closely related to the Company’s common business comply with the
national policy and continues to enjoy at certain fixed rate or amount.
57408092.65
Interest on deferred payment of funds received by non financial enterprises 5578426.09
In addition to the effective hedging business related to the normal operation
of the company the fair value change profit and loss arising from the
holding of trading financial assets derivative financial assets trading
financial liabilities and derivative financial liabilities
341035600.71
Other non-business income and expenditures other than the above 319830.16
Others (Note 1) 2084267795.46
Less: Influenced amount of income tax 65074332.57
Influenced amount of minority shareholders’ equity 487170.55
Total 2424402706.25
Note1：A wholly owned subsidiary Chongqing Chang 'an New Energy Automobile Technology Co. Ltd. has introduced strategic
investors. The Company has recognized non-recurring gains and losses after losing control of the company.
According to “Public offering of securities information disclosure of the company's information disclosure announcement No. 1 –non-recurring gains and losses “Public offering of securities information disclosure of the company's information disclosureannouncement No. 1 – non-recurring gains and losses” defined non-recurring items and Public offering of securities informationdisclosure of the company's information disclosure announcement No. 1 - non-recurring gains and losses “The items listed in thenon-recurring items defined as recurring items shall be explained.
□ Applicable √Not applicableThe company in the reporting period does not base on the definition and listing of “Public offering of securities informationdisclosure of the company's information disclosure announcement No. 1 – non-recurring gains and losses” about non-recurring gains
and losses to define a case of recurring profit or loss.II. Total number of shareholders at the end of the reporting period and statement on shares
held by the top ten tradable shareholders
1. Total number of shareholders at the end of the reporting period and statement on shares held by the top
ten shareholders
Unit: share
As of the reporting period the total number of shareholders 142292
Top 10 Shareholders
Name of the shareholder
Properties of
shareholder
Shareholding
(%)
Number of
shares
Conditional
shares
Pledging or freezing
Share status Amount
China South Industries Group Co.
Ltd.State-owned legal
person shares 21.56% 1035312673
No pledge or
frozen
0
China Changan Automobile Co. Ltd.
State-owned legal
person shares 19.32% 928044946
No pledge or
frozen
0
China securities finance Co Ltd
domestic general legal
person shares 4.88% 234265333
No pledge or
frozen
0
United Prosperity (Hongkong)
Investment Co. Limited
foreign legal person
shares 3.21% 154120237
No pledge or
frozen
0
Hong Kong Securities Clearing
Company Limited
foreign legal person
shares 2.81% 134769572
No pledge or
frozen
0
Central Huijin Investment Ltd.
domestic general legal
person shares 1.15% 55393100
No pledge or
frozen
0
DRAGON BILLION SELECT
MASTER FUND
foreign legal person
shares
0.80% 38400332
No pledge or
frozen
0
GIC PRIVATE LIMITED
foreign legal person
shares
0.73% 35283393
No pledge or
frozen
0
CAPE ANN GLOBAL
DEVELOPING MARKETS FUND
foreign legal person
shares 0.51% 24279825
No pledge or
frozen
0
Industrial and Commercial Bank of
China Value Growth Portfolio
Investment Fund
Funds wealth
management products
etc.
0.43% 20672905
No pledge or
frozen
0
Top 10 holders of unconditional shares
Name of the shareholder
Amount of shares
without sales
restriction
Category of shares
Category of shares Amount
China South Industries Group Co. Ltd. 1035312673 RMB ordinary shares 1035312673
China Changan Automobile Co. Ltd. 928044946 RMB ordinary shares 928044946
China securities finance Co Ltd 234265333 RMB ordinary shares 234265333
United Prosperity (Hongkong) Investment Co. Limited 154120237
Domestic listed foreign
shares 154120237
Hong Kong Securities Clearing Company Limited 134769572 RMB ordinary shares 134769572
Central Huijin Investment Ltd. 55393100 RMB ordinary shares 55393100
DRAGON BILLION SELECT MASTER FUND 38400332
Domestic listed foreign
shares 38400332
GIC PRIVATE LIMITED 35283393
Domestic listed foreign
shares 35283393
CAPE ANN GLOBAL DEVELOPING MARKETS FUND 24279825
Domestic listed foreign
shares 24279825
Industrial and Commercial Bank of China Value Growth Portfolio
Investment Fund
20672905 RMB ordinary shares 20672905
Explanation on the relationship and the action alike of above
shareholders
Among the top 10 shareholders China South Industries Group Co. Ltd. the
actual controller; China Changan Automobile Group Co. Ltd. the controlling
shareholder and its wholly owned subsidiary United Prosperity (Hong Kong)
Investment Co. Limited. 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
□Applicable √Not Applicable
The top 10 shareholders of ordinary shares and the top 10 circulated shareholders have not agreed on the repurchase transactions
during the report period
2. Total number of preferred shareholders at the end of the reporting period and statement on preferred
shares held by the top ten tradable shareholders
□Applicable √Not Applicable
Chapter 3 Important Matters
I. Significant changes & reasons in major accounting data financial indicators
√Applicable □Not Applicable
In RMB Yuan
Number Balance Sheet Items Mar. 31st2020 Jan. 1st 2020 Changes (%)
1 Cash 13646673877.84 10066171353.48 35.57%
2 Notes receivable 18555222074.54 26805635587.19 -30.78%
3 Accounts receivable 1831079053.00 838314076.82 118.42%
4 Prepayments 978074993.19 623801896.07 56.79%
5 Short-term loans 359580000.00 229580000.00 56.63%
6 Payroll payable 718849463.37 1046335781.91 -31.30%
7 Tax payables 366104658.60 889092442.80 -58.82%
Income Statement Items Jan-Mar 2020 Jan-Mar 2019 Changes (%)
1 Cost 10555130992.83 15204463239.37 -30.58%
2 G&A expenses 404138581.75 626499621.93 -35.49%
3 R&D expenses 697946683.12 455925951.99 53.08%
4 Financial expenses -27695921.06 -42420980.32 34.71%
5 Investment income 1452112755.17 -397154020.56 465.63%
Cash Flow Statement Items Jan-Mar 2020 Jan-Mar 2019 Changes (%)
1
Net cash flows from operating
activities
4155344266.52 3258788381.35 27.51%
2
Net cash flows from investing
activities
-2100075814.59 -1241139566.02 -69.21%
3
Net cash flows from financing
activities
1306529442.19 -491899844.50 365.61%
4
Net increase of cash and cash
equivalents
3346491148.05 1542739858.66 116.92%
As at the end of reporting period the company’s total asset was 95.283 billion Yuan with 2.39% decrease compared with the
beginning of the year. The total liability was 50.703 billion Yuan with 5.55% decrease compared with the beginning of the year. The
debt asset ratio was 53.21% which was 1.78 percentage points lower than the beginning of the year.
During the reporting period the balance of monetary funds increased compared with that at the beginning of the year and the
balance of notes receivable decreased compared with that at the beginning of the year which was mainly caused by the due collection
of notes receivable within the quarter; the increase of accounts receivable was mainly caused by the change of consolidation scope; the
increase of prepayment balance compared with that at the beginning of the year was mainly caused by the increase of loans from
suppliers in advance; the increase of short-term loan balance compared with that at the beginning of the year was mainly caused by the
increase of short-term bank loans. The balance of employee payable decreased compared with that at the beginning of the year mainly
due to the company's centralized payment of the salary payable accrued at the end of the previous year in the first quarter; the balance
of tax payable decreased compared with that at the beginning of the year mainly due to the decrease of consumption tax payable.
During the reporting period the operating cost decreased year-on-year mainly due to the year-on-year decline of product sales
volume in the quarter; the management expense decreased year-on-year and the R & D expense increased year-on-year mainly due to
the reclassification of the company's expenses; the financial expense increased significantly compared with the same period of last
year mainly due to the decrease of interest income; the investment income increased significantly mainly due to the disposal of new
energy technology company's equity.
During the reporting period the company's net increase in cash and cash equivalents was RMB 3.346 billion up 116.92%
year-on-year mainly due to the significant increase in net cash flow from financing activities; net cash flow from operating activities
was RMB 4.155 billion up 27.51% year-on-year mainly due to the significant decrease in cash paid for purchasing goods and
receiving services; net cash flow from investment activities was - 2.100 billion yuan a year-on-year decrease of 69.21% mainly due to
the substantial increase in other cash paid related to investment activities; the net cash flow from financing activities was 1.307 billion
yuan a year-on-year increase of 365.61% mainly due to the substantial increase in cash received from investment.II. The progress and influence of significant events and the analysis and explanation on
resolving proposal
√Applicable □Not Applicable
The company held the 64th meeting of the 7th board of directors on April 27 2020 deliberated and passed relevant proposals on the
company's non-public issuance of shares etc. and proposed to issue shares to specific objects with the total amount of raised funds
not more than 600 million yuan (including this number). For details please refer to the relevant announcements disclosed by the
company on http://www.cninfo.com.cn.Implementation progress of share repurchase
Applicable √ not applicable
Progress in the implementation of reducing share buyback through centralized bidding
Applicable √ not applicable
III. Commitments made within the reporting period by the controlling shareholders
shareholders related party acquirer and the company overdue and not fulfilled
□Applicable √Not Applicable
During the reporting period the company's actual controllers shareholders related parties purchasers and companies and other
commitment parties don’t have any overdue unfulfilled commitments.IV. Forecast of operation performance from Jan. – June of 2020
The warning or a reason for a loss or a significant change of cumulative net profit from the beginning of the year to the end of the
next reporting period compared with the same period of last year
□Applicable √Not Applicable
V. Securities Investment
√Applicable □Not Applicable
Security
variety
Stock
code
Stock
name
Initial
investment
cost (RMB
Yuan)
Opening
equity
Holdings
(share)
Opening
equity
holding ratio
(%)
Closing
equity
holdings
(share)
Closing
equity
Holdings
（%）
Closing book
value (RMB
Yuan)
Gain/loss
in the
reporting
period
(RMB
Yuan)
Accounting
title
Equity
source
Stock 600369
Southwest
Securities
50000000 35500000 0.63% 35500000 0.63% 160460000.00 -20217250.00
Transactional
financial assets
Initial investment
Stock 300750 CATL 1052930406.36 22999575 1.04% 22999575 1.04% 2600051800.71 310097510.60
Transactional
financial assets
Initial investment
Total 1102930406.36 58499575 -- 58499575 -- 2760511800.71 289880260.60
VI. Derivative Investment
□Applicable √Not Applicable
During the company's reporting period there is no derivative investment.
VII. Interviews and visits in the reporting period
√Applicable □Not Applicable
Date Manner Object Content discussed and material offered
2020.01.14 On-Site Survey Institution
For details see the January 16 2020 Shenzhen stock exchange interactive
(http://irm.cninfo.com.cn) on the Changan Automobile: January 14 2020 investor
relations activities record sheet
2020.01.21 On-Site Survey Institution
For details see the January 21 2020 Shenzhen stock exchange interactive
(http://irm.cninfo.com.cn) on the Changan Automobile: January 21 2020 investor
relations activities record sheet
VIII. Illegal external guarantee
□Applicable √Not Applicable
The company doesn’t violate the rules of external guarantee during the reporting period.IX. Controlling shareholder and its related parties to the listing Corporation's non-operating
funds
□Applicable √Not Applicable
During the reporting period there is no non-operating capital occupied by the controlling shareholder and its related parties to the
listed company.
Chapter 4 Financial Statements
I. Financial Statements
1. Consolidated Balance Sheet
Prepared by: CHONGQING CHANGAN AUTOMOBILE CO. LTD.March 31 2020
In RMB Yuan
Account Ending Balance Opening Balance
Current assets:
Cash 13646673877.84 10066171353.48
Trading financial assets 2760511800.71 2419476200.00
Notes receivable 18555222074.54 26805635587.19
Accounts receivable 1831079053.00 838314076.82
Prepayments 978074993.19 623801896.07
Other receivables 304699309.11 3731755992.46
Inventories 4276285385.48 3375441488.37
Contract assets 2329906613.76 -
Holding assets for sale
Non-current assets due within one year
Other current assets 1501583086.80 1746120128.04
Total current assets 46184036194.43 49606716722.43
Non-current assets:
Available-for-sale financial assets
Long-term receivables
Long-term equity investments 12919233828.66 11008336989.09
Investment in other equity instruments 734506100.00 734506100.00
Investment properties 7046171.83 7102849.72
Fixed assets 26300301925.22 26939490554.19
Construction in progress 1981341959.25 1729803028.43
Intangible assets 5023311865.48 5209619313.49
Development expenditure 596010178.96 814745464.20
Goodwill 9804394.00 9804394.00
Long-term deferred expenses 12981317.76 14327639.90
Deferred tax assets 1514905938.33 1542600534.93
Other non-current assets - -
Total non-current assets 49099443679.49 48010336867.95
TOTAL ASSETS 95283479873.92 97617053590.38
Current liabilities:
Short-term loans 359580000.00 229580000.00
Notes payable 16698989559.58 13430543294.23
accounts payable 14006202179.77 18905725271.50
Advances from customers - 2315641685.78
Contract liability 2377452671.30 -
Payroll payable 718849463.37 1046335781.91
Taxes payable 366104658.60 889092442.80
Other payables 4234547227.57 4809918141.45
Non-current liabilities within one year
Other current liabilities 3986758177.03 4253942761.77
Total current liabilities 42748483937.22 45880779379.44
Non-current liabilities:
Long-term loans 55300000.00 55300000.00
Long-term payables 849964593.06 857356423.71
Long-term payroll payable 49752099.97 45932000.00
Estimated liabilities 3378716063.75 3352580839.28
Deferred Revenue 3273453436.77 3194291079.21
Deferred tax liabilities 346959239.49 296742890.29
Other non-current liabilities
Total non-current liabilities 7954145433.04 7802203232.49
Total liabilities 50702629370.26 53682982611.93
Owners’ equity (or Shareholders’ equity):
Share capital 4802648511.00 4802648511.00
Capital reserves 5366097594.66 5366097594.66
Other comprehensive income 130993670.48 139994580.19
Special reserves 79286671.29 47076242.71
Surplus reserves 2401324255.50 2401324255.50
Retained earnings 31902249448.23 31271171559.60
Equity attributable to owners 44682600151.16 44028312743.66
Minority interests -101749647.50 -94241765.21
Total Owners’ equity (or Shareholders’ equity) 44580850503.66 43934070978.45
Liabilities and owners' equity (or shareholders' equity) in total 95283479873.92 97617053590.38
Legal person: Zhang Baolin Chief financial officer: Zhang Deyong The head of accounting department: Chen Jianfeng
2. Balance Sheet
In RMB Yuan
Account Ending Balance Opening Balance
Current assets:
Cash 10233025527.91 6563020335.56
Trading financial assets 160460000.00 184245000.00
Notes receivable 17376487325.63 25837326483.09
Accounts receivable 5867427148.02 5094270365.72
Prepayments 831591942.08 403105316.24
Other receivables 945884133.95 2597314344.40
Inventories 2757614110.93 1735570691.28
Contract assets 1700909516.60 -
Holding assets for sale
Non-current assets due within one year
Other current assets 761646004.23 798430035.62
Total current assets 40635045709.35 43213282571.91
Non-current assets:
Available-for-sale financial assets
Long-term receivables
Long-term equity investments 16272739012.99 16052319271.82
Investment in other equity instruments 724309400.00 724309400.00
Investment properties
Fixed assets 19935291662.88 20301231002.41
Construction in progress 1789399376.53 1545211000.22
Intangible assets 3889820012.97 4030438649.57
Development expenditure 476130218.41 431774377.27
Goodwill
Long-term deferred expenses 8658461.84 9719259.84
Deferred tax assets 1312252438.05 1318884054.48
Other non-current assets - -
Total non-current assets 44408600583.67 44413887015.61
TOTAL ASSETS 85043646293.02 87627169587.52
Current liabilities:
Short-term loans 29580000.00 29580000.00
Notes payable 15012605826.64 11983445725.06
accounts payable 11698344640.50 15601432751.74
Advances from customers - 1870992349.08
Contract liability 2180456274.79 -
Payroll payable 460546898.23 641340149.30
Taxes payable 222350923.75 453619905.66
Other payables 3446421152.76 4301257819.04
Holding liabilities for sale
Non-current liabilities within one year
Other current liabilities 3425541506.09 3400065879.02
Total current liabilities 36475847222.76 38281734578.90
Non-current liabilities:
Long-term loans 55300000.00 55300000.00
Long-term payables 279973648.44 285768478.89
Long-term payroll payable 20901497.32 22747000.00
Estimated liabilities 2548720258.99 2413434397.36
Deferred Revenue 2104281518.10 2135615106.85
Deferred tax liabilities 78207591.60 81775341.60
Other non-current liabilities
Total non-current liabilities 5087384514.45 4994640324.70
Total liabilities 41563231737.21 43276374903.60
Owners’ equity (or Shareholders’ equity):
Share capital 4802648511.00 4802648511.00
Capital reserves 5014772792.87 5014772792.87
Other comprehensive income 259380413.58 259380413.58
Special reserves 25391473.10 19917658.63
Surplus reserves 2401324255.50 2401324255.50
Retained earnings 30976897109.76 31852751052.34
Total Owners’ equity (or Shareholders’ equity) 43480414555.81 44350794683.92
Liabilities and owners' equity (or shareholders' equity) in total 85043646293.02 87627169587.52
3. Consolidated Income Statement of the report term
In RMB Yuan
Account Current Period Prior Period
I. Total operating income 11564077463.34 16007950602.50
Operating income 11564077463.34 16007950602.50
Interest income
Earned premium
Fee and commission income
II. Total operating cost 12722979536.56 17707550414.09
Including: Operating cost 10555130992.83 15204463239.37
Tax and surcharges 443622963.22 587353356.83
Operating expenses 649836236.70 875729224.29
General and administrative expenses 404138581.75 626499621.93
R&D expenses 697946683.12 455925951.99
Financial expenses -27695921.06 -42420980.32
Interest expense
Interest income
Impairment loss on assets
Impairment loss on credit
Add: Other income 57408092.65 57557097.02
Investment income (‘-‘ represent loss) 1452112755.17 -397154020.56
Investment income from associates and from joint venture -667413071.43 -388909153.76
Earnings from fair value changes 341035600.71 -
Impairment of credit -2142668.54 -3592637.73
Asset disposal income 1354464.30 -1633541.79
III. Operating profit (‘-’ represent loss) 690866171.07 -2044422914.65
Add: Non-operating income 6811073.58 9940462.40
Less: Non-operating expenses 6491243.42 949871.51
IV. Total profit(‘-’ represent loss) 691186001.23 -2035432323.76
Less: Income tax expense 67615994.89 67508680.94
V. Net profit (‘-’ represent net loss) 623570006.34 -2102941004.70
I) Net profit from continuing operations 623570006.34 -2102941004.70
II) Net profit from discontinued operations
Net profit attributable to owners 631077888.63 -2096352326.12
Minority interests -7507882.29 -6588678.58
VI. Other comprehensive income net of tax -9000909.71 260305062.54
Total comprehensive income attributable to owners net of tax -9000909.71 260305062.54
I) Other comprehensive income not to be reclassified to profit or loss in -38000.00
subsequent periods
Change from defined benefit plan -38000.00
Other comprehensive income not to be reclassified to profit or loss
under equity method
II) Other comprehensive income to be reclassified to profit or loss in
subsequent periods
-8962909.71 260305062.54
Other comprehensive income transferable to profit or loss under the
equity method
Changes in fair value from available-for-sale financial assets
Foreign currency reserve -8962909.71 -27045090.37
Other 287350152.91
VII. Total comprehensive income 614569096.63 -1842635942.16
Total comprehensive income attributable to owners 622076978.92 -1836047263.58
Total comprehensive income attributable to minority interest -7507882.29 -6588678.58
VIII. Earnings per share:
I) Basic earnings per share 0.13 -0.44
II) Diluted earnings per share 0.13 -0.44
Legal person: Zhang Baolin Chief financial officer: Zhang Deyong The head of accounting department: Chen Jianfeng
4. Income Statement of the report term
In RMB Yuan
Account Current Period Prior Period
I. Operating income 10675079250.36 14441944991.72
Less: Operating cost 10022777576.54 13806773684.94
Tax and surcharges 291774994.51 483106911.75
Operating expenses 470741426.98 670541870.34
General and administrative expenses 210786199.26 347026490.13
R&D expenses 699618911.59 455935285.81
Financial expenses -31509277.08 -44343446.15
Interest expense
Interest income
Impairment loss on assets
Impairment loss on credit
Add: Other income 25279321.68 27829453.81
Investment income (‘-‘ represent loss) 113578786.80 -386857266.96
Investment income from associates and from joint venture -618249269.01 -388909153.76
Earnings from fair value changes -23785000.00 -
Impairment of credit -1493618.14 -769683.06
Asset disposal income - -1611974.75
II. Operating profit (‘-’ represent loss) -875531091.10 -1638505276.06
Add: Non-operating income 3519692.63 8494672.83
Less: Non-operating expenses 778677.68 -511973.00
III. Total profit(‘-’ represent loss) -872790076.15 -1629498630.23
Less: Income tax expense 3063866.43 52478793.98
IV. Net profit (‘-’ represent net loss) -875853942.58 -1681977424.21
I) Net profit from continuing operations -875853942.58 -1681977424.21
II) Net profit from discontinued operations
V. Other comprehensive income net of tax 61858750.00
I) Other comprehensive income not to be reclassified to profit or loss in
subsequent periods
Change from defined benefit plan
Other comprehensive income not to be reclassified to profit or loss
under equity method
II) Other comprehensive income to be reclassified to profit or loss in
subsequent periods
61858750.00
Other comprehensive income transferable to profit or loss under the
equity method
Changes in fair value from available-for-sale financial assets
Foreign currency reserve
Other 61858750.00
VI. Total comprehensive income -875853942.58 -1620118674.21
VII. Earnings per share:
I) Basic earnings per share -0.18 -0.35
II) Diluted earnings per share -0.18 -0.35
5. Consolidated Cash Flow Statement from the beginning of year to the end of report term.
In RMB Yuan
Account Current Period Prior Period
I. CASH FLOWS FROM OPERATING ACTIVITIES:
Cash received from sale of goods or rendering of services 21257466605.15 20101009864.13
Refunds of taxes 45969851.95 130977526.05
Cash received relating to other operating activities 386274604.44 2351463047.17
Sub-total of cash inflows 21689711061.54 22583450437.35
Cash paid for goods and services 13417907129.60 14906195196.51
Cash paid to and on behalf of employees 1565688589.42 1732748414.84
Cash paid for all types of taxes 1078573272.46 1046776024.48
Cash paid relating to other operating activities 1472197803.54 1638942420.17
Sub-total of cash outflows 17534366795.02 19324662056.00
Net cash flows from operating activities 4155344266.52 3258788381.35
II. CASH FLOWS FROM INVESTING ACTIVITIES:
Cash received from return on investments -
Cash received from investment income 3628625.00 -
Net cash received from disposal of fixed assets intangible assets and other
long-term assets
170091.83 20000.00
Net cash received from disposal of subsidiaries and other business units
Cash received relating to other investing activities - 348000.00
Sub-total of cash inflows 3798716.83 368000.00
Cash paid for acquisition of fixed assets intangible assets and other long-term
assets
566554431.22 1241507566.02
Cash paid for acquisition of investments 13088871.00 -
Net cash paid for subsidiaries and other business units
Cash paid relating to other investing activities 1524231229.20 -
Sub-total of cash outflows 2103874531.42 1241507566.02
Net cash flows from investing activities -2100075814.59 -1241139566.02
III. CASH FLOWS FROM FINANCING ACTIVITIES:
Cash received from borrowings 1420000000.00 -
Cash received from the issuance of bonds 150000000.00 35000000.00
Cash received relating to other financing activities 264541204.27 28195180.76
Sub-total of cash inflows 1834541204.27 63195180.76
Cash repayments of borrowings 20000000.00 16708100.00
Cash paid for distribution of dividends or profits and interest expenses 9459181.50 9358472.79
Cash paid relating to other financing activities 498552580.58 529028452.47
Sub-total of cash outflows 528011762.08 555095025.26
Net cash flows from financing activities 1306529442.19 -491899844.50
IV. EFFECT OF CHANGES IN EXCHANGE RATE ON CASH -15306746.07 16990887.83
V. NET INCREASE IN CASH AND CASH EQUIVALENTS 3346491148.05 1542739858.66
Add: Opening balance of cash and cash equivalents 9360474674.89 9648153614.80
VI. CLOSING BALANCE OF CASH AND CASH EQUIVLANT 12706965822.94 11190893473.46
6. Cash Flow Statement from the beginning of year to the end of report term.
In RMB Yuan
Account Current Period Prior Period
I. CASH FLOWS FROM OPERATING ACTIVITIES:
Cash received from sale of goods or rendering of services 18868422291.72 17714720410.20
Refunds of taxes
Cash received relating to other operating activities 54826509.91 2039698293.41
Sub-total of cash inflows 18923248801.63 19754418703.61
Cash paid for goods and services 12099237602.48 13537740196.23
Cash paid to and on behalf of employees 1112718300.63 1250523925.99
Cash paid for all types of taxes 513342838.61 825010270.02
Cash paid relating to other operating activities 891028153.93 1679903064.63
Sub-total of cash outflows 14616326895.65 17293177456.87
Net cash flows from operating activities 4306921905.98 2461241246.74
II. CASH FLOWS FROM INVESTING ACTIVITIES:
Cash received from return on investments
Cash received from investment income 5827791.67 2175000.00
Net cash received from disposal of fixed assets intangible assets and other
long-term assets
Net cash received from disposal of subsidiaries and other business units
Cash received relating to other investing activities
Sub-total of cash inflows 5827791.67 2175000.00
Cash paid for acquisition of fixed assets intangible assets and other
long-term assets
527234258.30 1169656810.40
Cash paid for acquisition of investments 112338871.00 10000000.00
Net cash paid for subsidiaries and other business units
Cash paid relating to other investing activities
Sub-total of cash outflows 639573129.30 1179656810.40
Net cash flows from investing activities -633745337.63 -1177481810.40
III. CASH FLOWS FROM FINANCING ACTIVITIES:
Cash received from investors
Cash received from borrowings
Cash received from the issuance of bonds
Cash received relating to other financing activities
Sub-total of cash inflows
Cash repayments of borrowings
Cash paid for distribution of dividends or profits and interest expenses 3171376.00 4657754.49
Cash paid relating to other financing activities - -
Sub-total of cash outflows 3171376.00 4657754.49
Net cash flows from financing activities -3171376.00 -4657754.49
IV. EFFECT OF CHANGES IN EXCHANGE RATE ON CASH
V. NET INCREASE IN CASH AND CASH EQUIVALENTS 3670005192.35 1279101681.85
Add: Opening balance of cash and cash equivalents 6563020335.56 7310973018.99
VI. CLOSING BALANCE OF CASH AND CASH EQUIVLANT 10233025527.91 8590074700.84
II. Notes on financial statement adjustments
1. Since 2020 the first implementation of the new revenue standards the new lease standards to adjust the
first implementation of the financial statements at the beginning of the year .
√Applicable □Not Applicable
Consolidated Balance Sheet
In RMB Yuan
Account 2019.12.31 2020.1.1 Adjustment
Current assets:
Cash 10066171353.48 10066171353.48
Trading financial assets 2419476200.00 2419476200.00
Notes receivable 26805635587.19 26805635587.19
Accounts receivable 838314076.82 838314076.82
Prepayments 623801896.07 623801896.07
Other receivables 3731755992.46 269534090.37 -3462221902.09
Inventories 3375441488.37 3375441488.37
Contract assets 3462221902.09 3462221902.09
Holding assets for sale
Non-current assets due within one year
Other current assets 1746120128.04 1746120128.04
Total current assets 49606716722.43 49606716722.43
Non-current assets:
Available-for-sale financial assets
Long-term receivables
Long-term equity investments 11008336989.09 11008336989.09
Investment in other equity instruments 734506100.00 734506100.00
Investment properties 7102849.72 7102849.72
Fixed assets 26939490554.19 26939490554.19
Construction in progress 1729803028.43 1729803028.43
Intangible assets 5209619313.49 5209619313.49
Development expenditure 814745464.20 814745464.20
Goodwill 9804394.00 9804394.00
Long-term deferred expenses 14327639.90 14327639.90
Deferred tax assets 1542600534.93 1542600534.93
Other non-current assets - -
Total non-current assets 48010336867.95 48010336867.95
TOTAL ASSETS 97617053590.38 97617053590.38
Current liabilities:
Short-term loans 229580000.00 229580000.00
Notes payable 13430543294.23 13430543294.23
Accounts payable 18905725271.50 18905725271.50
Advances from customers 2315641685.78 - -2315641685.78
Contract liability 2315641685.78 2315641685.78
Payroll payable 1046335781.91 1046335781.91
Taxes payable 889092442.80 889092442.80
Other payables 4809918141.45 4809918141.45
Non-current liabilities within one year
Other current liabilities 4253942761.77 4253942761.77
Total current liabilities 45880779379.44 45880779379.44
Non-current liabilities:
Long-term loans 55300000.00 55300000.00
Long-term payables 857356423.71 857356423.71
Long-term payroll payable 45932000.00 45932000.00
Estimated liabilities 3352580839.28 3352580839.28
Deferred Revenue 3194291079.21 3194291079.21
Deferred tax liabilities 296742890.29 296742890.29
Other non-current liabilities
Total non-current liabilities 7802203232.49 7802203232.49
Total liabilities 53682982611.93 53682982611.93
Owners’ equity (or Shareholders’ equity):
Share capital 4802648511.00 4802648511.00
Capital reserves 5366097594.66 5366097594.66
Other comprehensive income 139994580.19 139994580.19
Special reserves 47076242.71 47076242.71
Surplus reserves 2401324255.50 2401324255.50
Retained earnings 31271171559.60 31271171559.60
Equity attributable to owners 44028312743.66 44028312743.66
Minority interests -94241765.21 -94241765.21
Total Owners’ equity (or Shareholders’ equity) 43934070978.45 43934070978.45
Liabilities and owners' equity (or shareholders' equity) in
total
97617053590.38 97617053590.38
Statement of adjustment
On July 5 2017 the Ministry of Finance revised and issued "Accounting Standards for Business Enterprises No. 14-Revenue"
(Caihui [2017] No. 22). According to the requirements of the Ministry of Finance companies listed at home and abroad at the same
time as well as listed overseas and adopt international Financial reporting standards or corporate accounting standards for companies
that prepare financial statements will be implemented from January 1 2018; other domestic listed companies will be implemented
from January 1 2020; non-listed companies that implement corporate accounting standards will be implemented from 2021. It will
take effect on January 1. Due to the revision of the above corporate accounting standards the company needs to adjust the relevant
accounting policies originally adopted.
According to the time stipulated by the Ministry of Finance the company will implement the new revenue standard from
January 1 2020.
Balance Sheet
In RMB Yuan
Account 2019.12.31 2020.1.1 Adjustment
Current assets:
Cash 6563020335.56 6563020335.56
Trading financial assets 184245000.00 184245000.00
Notes receivable 25837326483.09 25837326483.09
Accounts receivable 5094270365.72 5094270365.72
Prepayments 403105316.24 403105316.24
Other receivables 2597314344.40 941161145.80 -1656153198.60
Inventories 1735570691.28 1735570691.28
Contract assets - 1656153198.60 1656153198.60
Holding assets for sale
Non-current assets due within one year
Other current assets 798430035.62 798430035.62
Total current assets 43213282571.91 43213282571.91
Non-current assets:
Available-for-sale financial assets
Long-term receivables
Long-term equity investments 16052319271.82 16052319271.82
Investment in other equity instruments 724309400.00 724309400.00
Investment properties
Fixed assets 20301231002.41 20301231002.41
Construction in progress 1545211000.22 1545211000.22
Intangible assets 4030438649.57 4030438649.57
Development expenditure 431774377.27 431774377.27
Goodwill
Long-term deferred expenses 9719259.84 9719259.84
Deferred tax assets 1318884054.48 1318884054.48
Other non-current assets - -
Total non-current assets 44413887015.61 44413887015.61
TOTAL ASSETS 87627169587.52 87627169587.52
Current liabilities:
Short-term loans 29580000.00 29580000.00
Notes payable 11983445725.06 11983445725.06
Accounts payable 15601432751.74 15601432751.74
Advances from customers 1870992349.08 - -1870992349.08
Contract liability - 1870992349.08 1870992349.08
Payroll payable 641340149.30 641340149.30
Taxes payable 453619905.66 453619905.66
Other payables 4301257819.04 4301257819.04
Holding liabilities for sale
Non-current liabilities within one year
Other current liabilities 3400065879.02 3400065879.02
Total current liabilities 38281734578.90 38281734578.90
Non-current liabilities:
Long-term loans 55300000.00 55300000.00
Long-term payables 285768478.89 285768478.89
Long-term payroll payable 22747000.00 22747000.00
Estimated liabilities 2413434397.36 2413434397.36
Deferred Revenue 2135615106.85 2135615106.85
Deferred tax liabilities 81775341.60 81775341.60
Other non-current liabilities
Total non-current liabilities 4994640324.70 4994640324.70
Total liabilities 43276374903.60 43276374903.60
Owners’ equity (or Shareholders’ equity):
Share capital 4802648511.00 4802648511.00
Capital reserves 5014772792.87 5014772792.87
Other comprehensive income 259380413.58 259380413.58
Special reserves 19917658.63 19917658.63
Surplus reserves 2401324255.50 2401324255.50
Retained earnings 31852751052.34 31852751052.34
Total Owners’ equity (or Shareholders’ equity) 44350794683.92 44350794683.92
Liabilities and owners' equity (or shareholders' equity) in
total
87627169587.52 87627169587.52
Statement of adjustment
On July 5 2017 the Ministry of Finance revised and issued "Accounting Standards for Business Enterprises No. 14-Revenue"
(Caihui [2017] No. 22). According to the requirements of the Ministry of Finance companies listed at home and abroad at the same
time as well as listed overseas and adopt international Financial reporting standards or corporate accounting standards for companies
that prepare financial statements will be implemented from January 1 2018; other domestic listed companies will be implemented
from January 1 2020; non-listed companies that implement corporate accounting standards will be implemented from 2021. It will
take effect on January 1. Due to the revision of the above corporate accounting standards the company needs to adjust the relevant
accounting policies originally adopted.
According to the time stipulated by the Ministry of Finance the company will implement the new revenue standard from
January 1 2020.
2. Since 2020 the first implementation of the new income criteria the new lease criteria retroactive
adjustment of the preliminary comparison data.
□Applicable √Not Applicable
III. Auditors’ Report
Whether the first quarter report has been audited
□ Yes √No
The first quarter report has not been audited.
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