Chongqing Changan Automobile Co. Ltd. 2026 Semi-Annual Report Chongqing Changan Automobile Company Limited 2026 Semi-Annual Report August 2026Chongqing Changan Automobile Co. Ltd. 2026 Semi-Annual Report Chapter 1 Important Notices Contents and Definitions 1. The Board of Directors (or the “Board”) the Supervisory Board as well as the directors supervisors and senior managers of Chongqing Changan Automobile Co. Ltd. hereby guarantee the factuality accuracy and completeness of the contents of this Report and its summary and shall be jointly and severally liable for any misrepresentations misleading statements or material omissions therein. 2. Zhu Huarong the Company’s legal representative Ni Erke the Company’s Chief Financial Officer and Shi Haifeng the person-in-charge of the accounting organ hereby guarantee that the financial statements carried in this Report are factual accurate and complete. 3. Except the following directors all the directors have attended the board meeting for reviewing this Report.Name of the directors absent Positions Reasons for the absence Name of the Trustees Yang Xinmin Independent director Reason for work Tang Guliang 4. Any prospective description such as future business plans and development strategies in this Report shall not be considered as the Company’s commitment to investors. Investors and relevant persons shall be sufficiently mindful of risks and undertake the difference in plans predictions and commitment. 5. Chapter III “Management Discussion and Analysis” of this Report describes the possible risks and countermeasures of the Company and investors shall pay attention to the relevant content. 6.The company plans not to distribute cash dividends not to issue bonus shares and not to increase share capital by capitalizing capital reserves.This Report has been prepared in both Chinese and English. Should there be any discrepancies or misunderstandings between the two versions the Chinese version shall prevail. 1Chongqing Changan Automobile Co. Ltd. 2026 Semi-Annual Report CONTENTS Chapter 1 Important Notices Contents and Definitio....1 Chapter 2 Company Profile and Key Financial Indexe... 4 Chapter 3 Management Discussion and Analysis .........7 Chapter 4 Corporate Governance Environmental and Social Responsibility ........ 24 Chapter 5 Important Matters ........................ 31 Chapter 6 Share Changes and Shareholder Informatio.. 37 Chapter 7 Bonds .................................... 43 Chapter 8 Financial Report ......................... 46 2Chongqing Changan Automobile Co. Ltd. 2026 Semi-Annual Report Directory of Reference Documents I. Financial statements carrying the signatures and seals of the Company’s legal representative the Chief Financial Officer and the person-in-charge of the accounting organ.Ⅱ. During the reporting period the original copies of all company documents and announcements publicly disclosed by the Company in China Securities Journal Securities Times Securities Daily Shanghai Securities News and Hong Kong Commercial Daily.Definitions Items Definitions Changan Auto Changan Refers to Chongqing Changan Automobile Co. Ltd.Automobile the Company Deepal Auto Refers to Deepal Automotive Technology Co. Ltd. a subsidiary company of the Company.Chongqing Changan Kaicheng Automotive Technology Co. Ltd. a subsidiary of the Changan Kaicheng Refers to company.Changan Ford Refers to Changan Ford Automobile Co. Ltd. a joint venture of the company.Changan Mazda Refers to Changan Mazda Automobile Co. Ltd. a joint venture of the company.Avatr Refers to Avatr Technology (Chongqing) Co. Ltd. an associate company of the firm. 3Chongqing Changan Automobile Co. Ltd. 2026 Semi-Annual Report Chapter 2 Company Profile and Key Financial Indexes I. Company Profile Stock Abbreviation Changan Automobile Changan B Stock ticker symbol 000625 200625 Stock listed stock exchange Shenzhen Stock Exchange The company's Chinese name 重庆长安汽车股份有限公司 Company abbreviation in长安汽车 Chinese name Company name in English Chongqing Changan Automobile Company Limited Legal representative Zhu Huarong II. Contact Person and Contact Information Secretary of the Board of Directors Securities Affairs Representative Full Name Ni Erke Jie Zhonghua Building T2 Financial City No. 2 No. 61 Building T2 Financial City No. 2 No. 61 Contact Address Dongshengmen Road Jiangbei District Dongshengmen Road Jiangbei District Chongqing Municipality Chongqing Municipality Telephone 023-67594008 023-67594008 Facsimile 023-67870261 023-67870261 Electronic mailbox cazqc@changan.com.cn jiezh@changan.com.cn III. Other 1. Contact information Whether the company's registered address office address and their postal codes company website and email address have changed during the reporting period.□ Applicable √ Not Applicable The company's registered address office address and their postal codes website and email address remained unchanged during the reporting period; for details please refer to the 2025 Annual Report. 2. Information disclosure and preparation place Whether the information disclosure and designated location for documents have changed during the reporting period.□ Applicable √ Not Applicable The website of the stock exchange where the company discloses its semi-annual report the names and URLs of the media and the location where the company's semi-annual report is kept remained unchanged during the reporting period; for specific details please 4Chongqing Changan Automobile Co. Ltd. 2026 Semi-Annual Report refer to the 2025 Annual Report. 3. Other relevant materials Whether there were any changes to other relevant information during the reporting period.□ Applicable √ Not Applicable IV. Key Accounting Data and Financial Indexes Does the company need to retrospectively adjust or restate prior-year accounting data □ Yes √ No The same period last This reporting period YoY change (%) year Operating Revenue (RMB) 65634329742.16 72691310387.08 -9.71% Net profit attributable to shareholders 817395511.852291211254.67-64.32% of the listed company (in RMB) Net profit attributable to shareholders of the listed company after deducting 250826676.621476706514.95-83.01% non-recurring gains and losses (in RMB) Net cash flow from operating -11413452268.37-8607196790.27-32.60% activities (in RMB) Basic earnings per share (RMB/share) 0.08 0.23 -65.22% Diluted earnings per share 0.080.23 (RMB/share) -65.22% Return on weighted average net assets 1.06% 3.00% -1.94% At the end of the At the end of the YoY change (%) reporting period. previous fiscal year Total Assets (RMB) 187688708189.96 202961073175.76 -7.52% Net assets attributable to shareholders 76036878508.5977336177858.02-1.68% of the listed company (in RMB) V. The Differences between Chinese Accounting Standards and International Financial Reporting Standards 1. Differences in net profit and net asset attributable to shareholders in financial report disclosed in accordance with International Financial Reporting Standards and Chinese Accounting Standards.□ Applicable √ Not applicable No difference during the reporting period. 2. Differences of net profit and net assets disclosed in financial reports prepared under Overseas Financial Reporting Standards and Chinese Accounting Standards. 5Chongqing Changan Automobile Co. Ltd. 2026 Semi-Annual Report □ Applicable √ Not applicable No difference during the reporting period. 3. Reasons for differences in accounting data under Chinese Accounting Standards and International Financial Reporting Standards.□ Applicable √ Not applicable VI. Items and Amounts of Non-Recurring Gains and Losses √ Applicable □ Not Applicable Unit: RMB Item Amount Instructions Gains or losses from the disposal of non-liquid assets (including the 75172176.38 reversal of previously accrued asset impairment provisions) Government grants recognized in the current period's profit or loss excluding those closely related to the company's normal operating activities compliant with national policy regulations granted 99005867.00 according to established standards and having a sustained impact on the company's profit or loss.Apart from effective hedging activities related to the normal business operations of the company the gains or losses arising from changes in fair value of financial assets and financial liabilities held by 40186067.03 non-financial enterprises as well as the gains or losses from the disposal of financial assets and financial liabilities.Financing charges levied on non-financial enterprises that are included 63731822.45 in current period profit or loss.Reversal of impairment provision for receivables tested individually for 9318582.52 impairment.Gains arising from business combinations not under common control. 161016229.92 Other non-operating income and expenses other than those items 9823432.08 mentioned above.Other income and expense items that conform to the definition of 152504327.43 non-recurring gains and losses.Less: Income tax effect 14770091.44 Impact of non-controlling interests (net of tax) 29419578.14 Total 566568835.23 Details of other profit and loss items that conform to the definition of non-recurring gains and losses: √ Applicable □ Not Applicable In accordance with Interpretive Announcement No. 1 on Information Disclosure by Companies Offering Securities to the Public Regarding Non-recurring Gains and Losses non-recurring gains and losses of investee units attributable to the Company's share of equity-accounted investment income are recognized.Explanation of the Circumstances Regarding the Reclassification of Non-recurring Profit and Loss Items Listed in the "Interpretive Announcement No. 1 on Information Disclosure by Companies Offering Securities to the Public" as Recurring Profit and Loss Items.□ Applicable √ Not Applicable No such cases for the reporting period. 6Chongqing Changan Automobile Co. Ltd. 2026 Semi-Annual Report Chapter 3 Management Discussion and Analysis I. The main business of the Company in the reporting period 1. Business overview Our company operates within the automotive manufacturing sector with core business activities encompassing the research development manufacturing and sales of complete vehicles as well as the research and production of engines. The company is actively developing "three-electric" technologies represented by batteries motors and electronic control systems intelligent technologies such as smart cockpits and autonomous driving and new businesses including automotive life services new marketing models and battery swapping services; it is accelerating exploration into industrial finance and the used car sector while proactively laying out emerging fields like embodied intelligence and the low-altitude economy to drive the enterprise's transformation into a smart and low-carbon mobility technology company.Our company remains committed to the mission of "leading automotive civilization and benefiting human life" steadfastly advancing the "Third Entrepreneurship - Innovation and Entrepreneurship Plan" accelerating the transformation into an intelligent low-carbon mobility technology company and striving to become a world-class automotive brand. The company is actively developing intelligent connected new energy vehicles establishing three digital intelligence new energy brands: Avatr Deepal and Changan NEVO while simultaneously creating the Changan Automobile and Changan Kaicheng brands to address the needs of global mainstream internal combustion engine vehicle users and commercial markets and further expanding its portfolio of joint venture brands through partnerships such as Changan Ford and Changan Mazda. In the traditional internal combustion engine vehicle sector the company has launched a series of classic independent brand models including the CS Eado and UNI series while its joint ventures have introduced multiple well-known products such as the all-new Mondeo all-new Nautilus CX-5 and Mazda3. In the new energy sector the company has dedicatedly developed a comprehensive portfolio of new energy vehicles including the Changan NEVO Q07 Changan NEVO A07 Changan NEVO Q06 Changan NEVO A06 Changan NEVO Q05 Deepal S09 Deepal S07 Deepal L06 Deepal S05 Deepal G318 Avatr 12 Avatr 11 Avatr 07L Avatr 06 Changan Mazda EZ-60 Changan Kaicheng V919 and Changan Hunter with a commitment to providing consumers with superior products and services.The company is resolutely advancing the synergistic development of its independent and joint ventures leveraging its own-brand automotive businesses including Avatr Deepal Changan NEVO Changan Automobile and Changan Kaicheng to firmly establish flagship products while utilizing joint ventures such as Changan Ford and Changan Mazda to continuously deepen mutual trust and cooperation with partners and explore new collaborative opportunities on a global scale. 2. Industry situation In the first half of 2026 the century-old global transformation accelerated and the strategic competition among major powers became increasingly complex and intense. Faced with a complex situation China has precisely and effectively implemented more proactive and capable macroeconomic policies and developed new quality productive forces in accordance with local conditions.China's economy has withstood pressure maintained overall stability and continued its development trend towards newness and optimization demonstrating strong resilience and vitality.Year-to-date the automotive industry has maintained overall stability with a slight contraction in market size; cumulative sales from January to June reached 15.017 million units representing a year-on-year decline of 4.1%. The market share of new energy vehicles (NEVs) and internal combustion engine (ICE) vehicles has further diverged: NEVs accounted for 51.3% of the domestic market in the first half of the year an increase of 4.5 percentage points year-on-year while NEV exports surged by 122.3% year-on-year. Conversely the domestic market for ICE vehicles shrank by 27.8% year-on-year with its market share continuing to contract. In the context of a sluggish domestic automotive market exports have emerged as the industry's most critical "stabilizer" 7Chongqing Changan Automobile Co. Ltd. 2026 Semi-Annual Report and "ballast stone." While the top ten automotive groups all recorded year-on-year declines in the domestic market their export markets maintained high growth rates exceeding 30%. Chinese brands have firmly grasped the two key drivers of new energy vehicles and exports maintaining a cliff-like market share advantage over joint-venture brands; from January to June sales of Chinese-brand passenger cars reached 9.138 million units accounting for 71.8% of the market share a year-on-year increase of 3.3 percentage points continuing to lead the industry. It is worth noting that since the beginning of this year significant increases in the costs of key raw materials and components have forced enterprises to raise prices in response; specifically lithium carbonate prices have returned to high levels in the first half of the year while copper prices have remained persistently elevated. Furthermore the explosive surge in AI computing power demand has encroached upon storage wafer production capacity resulting in a supply-demand imbalance for automotive-grade storage chips and triggering a sharp price surge.At the policy-driven level first in the first half of the year the phase-out of the new energy vehicle purchase tax exemption (shifting from full exemption to a 50% reduction) led to a certain degree of premature release of market demand with a significant impact on certain vehicle models (the new energy micro-sedan market the passenger car segment with the largest decline fell by 68.3% year-on-year); second we deepened the implementation of the "two new" policies by optimizing fund allocation unifying subsidy standards and balancing fund usage to continuously amplify the policy effectiveness of stabilizing investment expanding consumption promoting transformation and benefiting people's livelihood; third we focused on industry sectors with prominent issues deployed a "combination of measures" in price and anti-unfair competition regulation and law enforcement to foster a sound market ecosystem and drove enterprises to shift from "competing on price" to "competing on quality." (The above data and information are sourced from the "China Automotive Industry Production and Sales Quick Report" published by the China Association of Automobile Manufacturers industry information releases and publicly available channels.) 3. Enterprise market performance 2026 marks the inaugural year of the 15th Five-Year Plan; in the first half of the year Changan Automobile steadfastly advanced its "Third Entrepreneurship – Innovation and Entrepreneurship Plan 9.0" accelerated the implementation of its "13336" strategic layout and leveraged the synergistic efforts of three major initiatives to anchor breakthroughs in strategic depth. In the first half of 2026 amid a sector-wide downturn that led to a persistent weakening of market demand the company fully focused on stabilizing operations and accelerating sales; although the half-year performance fell short of expectations due to the macroeconomic environment the company successfully maintained its core business foundation achieving a sales volume of 1.119 million units from January to June of which overseas exports reached 455000 units representing a year-on-year increase of 51.9% and new energy vehicle sales totaled 414000 units.The "Shangri-La" initiative is advancing steadily with Avatr Deepal and Changan NEVO three digital intelligence new energy brands successively launching multiple refreshed models to further enrich their product matrix and boost sales growth; the "Global Hybrid China Solution" Changan Blue Core Super Engine Hybrid made its global debut featuring a deep electrification intelligent hybrid system composed of a 500-bar ultra-high-pressure direct-injection hybrid engine a high-flux high-power hybrid electric drive a high-performance high-safety battery and an AI cloud intelligent control system that requires no charging empowering traditional internal combustion engine vehicles with electric technology to innovate a "balanced oil-electric integration and intelligent fusion" breakthrough hybrid model redefining the efficient hybrid mobility experience and providing global users with the optimal mobility solution across all scenarios and throughout the entire lifecycle. The first prototype of the WE20TG-AA hybrid-specific engine jointly developed with Dongan Power has officially rolled off the production line; as a power product targeting the high-end market this engine incorporates advanced technologies such as ultra-high-pressure 500bar spray technology ultra-high compression ratio and deep Miller cycle achieving performance metrics that lead the global mass-produced 2.0L turbocharged direct-injection engine segment; meanwhile the Taihang distributed electric drive technology has officially entered the mass production and popularization phase and the "Golden Bell" battery has been awarded the Second Prize of the 2025 National Science and Technology Progress Award.The "Beidou Tianshu" initiative continues to accelerate; following the acquisition of China's first formal license plate for L3-level dedicated autonomous driving in December last year it was approved this year for an L4-level self-developed Robotaxi 8Chongqing Changan Automobile Co. Ltd. 2026 Semi-Annual Report testing license becoming the only vehicle manufacturer to possess full compliance and full-scenario L4-level unmanned driving test qualifications; it released the "New Safety" achievements of Tianshu Intelligence including the Tire Blowout Stability function with all new and facelifted models equipped with Tianshu Intelligence standardly featuring the Tire Blowout Stability function starting from May 1st; the Item "Key Technology Development for Intelligent Connected Vehicle Driving Operating Systems Oriented to Central Computing" led by the company passed its final acceptance establishing a complete innovation chain of "R&D-Verification-Application" breaking through multiple industry technical bottlenecks and creating an overall solution for a driving operating system with fully independent intellectual property rights. Chang'an Tianshu Intelligent Robotics (Chongqing) Co.Ltd. has been officially established to reshape the mobility ecosystem through embodied intelligence aiming to create landmark embodied intelligence innovative products and solutions and to become a world-class provider of robotics products and services.Changan's fully independently developed Tianshu large language model has obtained filing and approval from the Cyberspace Administration of China for "generative artificial intelligence services" possessing the compliance capabilities for independent training independent operation and providing services to the public marking a critical step for Changan Automobile as the first vehicle enterprise in Chongqing to pass the national generative AI filing in the field of industrialization and implementation of autonomous and controllable large models.The "Haina Bai Chuan" initiative has advanced to a higher dimension with Changan Automobile's factory in Anápolis Brazil officially completed and commencing production; the first locally manufactured Changan UNI-T has successfully rolled off the assembly line and in the future leveraging the dual-fuel and hybrid power technology foundation the factory will launch a full range of hybrid and electrified models further strengthening the local supply chain and R&D capabilities while sharing green development solutions to jointly build a low-carbon and inclusive transportation ecosystem with all sectors of Brazilian society. Avatr has signed cooperation agreements with RSA Group one of the leading automotive distribution giants in Northern Europe and DeltaAuto Group a leading automotive dealer in Eastern Europe to leverage their extensive experience and mature channels to accelerate the expansion into high-value overseas markets; the 20000th complete vehicle rolled off the production line at Changan's Rayong plant in Thailand marking a new milestone in its localized industrial layout in Southeast Asia; the Polish market achieved a critical breakthrough from zero to a thousand orders with the first batch of vehicles loaded and shipped in the first quarter. The all-new Changan NEVO Q05 has been officially launched in Uzbekistan with great fanfare.Against the backdrop of rapid iteration in the domestic new energy vehicle market the continuous contraction of the internal combustion engine vehicle market and intensifying competition in overseas markets Changan Automobile has consistently adhered to product innovation and remained committed to building classic products focusing on new energy vehicles and overseas incremental markets; in March the company's monthly export volume exceeded 100000 units for the first time and its new energy vehicle sales for the first half of the year once again surpassed the 400000-unit threshold; during the first half of the year a dense launch of new energy vehicle models occurred with the Avatr 06T the all-new Deepal S07 Huawei Qianshun LiDAR Edition and the Avatr 07L among others being successively launched providing consumers with more high-quality green mobility options.Among them the Avatr 06T is positioned as an "intelligent aesthetic all-scenario sports sedan" featuring the Taihang distributed electric drive system Huawei Qiankun ADS 4 assisted driving system and Huawei Qiankun 896-line LiDAR as standard across the entire lineup powered by the HarmonySpace 5 cockpit to deliver a smarter mobility experience; the Avatr 07L boasts comprehensive increases in body length height and width easily meeting multi-scenario needs such as family travel long-distance self-driving and cargo loading. Traditional powertrain products undergo iterative renewal continuously demonstrating vitality; the fourth-generation CS75 PLUS Blue Whale Super Engine and the fourth-generation Eado Blue Whale Super Engine have officially launched innovating a class-defining hybrid model that equally prioritizes fuel and electricity with intelligent integration enabling users to enjoy the reliability of fuel vehicles and the experience of electric vehicles without altering their refueling habits. In terms of product market performance in the first half of 2026 the retail sales of the all-new Changan NEVO Q05 ranked second among Chinese-brand compact SUVs (new energy vehicles) while the Changan NEVO A06 and Deepal L06 secured the second and third positions respectively in the Chinese-brand mid-size new energy sedan market; the second-generation Changan X5 PLUS and Eado series ranked at the forefront of the Chinese-brand compact traditional powertrain SUV and sedan markets. 9Chongqing Changan Automobile Co. Ltd. 2026 Semi-Annual Report Strengthen global communication to continuously enhance brand momentum. Capitalizing on the global spotlight of the World Cup we established a global IP partnership with the Portuguese National Football Team (FPF) becoming its Global Official Partner; Changan Automobile alongside Changan NEVO shone on the CCTV Spring Festival Gala with models such as the NEVO A06 Q05 and Q07 featured at the Harbin sub-venue of the Central Radio and Television Station's Spring Festival Gala; the Changan Brand Experience Center was selected for the inaugural "Travel with Brands" recommended list standing as the sole national-level brand tourism experience site in Chongqing enabling tens of thousands of visitors to comprehend Changan's brand narrative and experience the unique charm of "Made in China" and "Chinese Service" through their journey; centered on Changan's "Tianshu Intelligence" global "Car Refining Season" events were conducted across seven countries and regions including Saudi Arabia Italy Mexico and Thailand; simultaneously leveraging peak traffic periods like the 618 Shopping Festival we executed targeted marketing campaigns utilizing trending topics to create immersive atmospheric marketing and have consecutively ranked among the top 50 Chinese Globalized Brands in the Kantar BrandZ for three years.II. Analysis of Core Competitiveness 1. AI-driven intelligent transformation capabilities. The company adheres to the "One Core Two Wings" AI strategy to build core AI competitiveness and foster new quality productive forces for technology enterprises. The company positions intelligent driving and intelligent cockpits as its "wing A" new quality productive forces driven by AI as its "wing B" and integrates AI base frameworks and toolchains with computing power and base platforms as a unified support system to advance technological iteration and efficiency upgrades in phased stages actively promoting intelligent transformation. AI applications in office and business scenarios have achieved scaled implementation with 11 transformation Item teams established to continuously advance intelligent operations realizing AI-enabled functions such as 3C certificate verification AI-driven smart channel site selection AI-assisted intelligent software development and AI-powered stress relief tape inspection. Launch the Star Intelligence Platform to cover core capabilities such as knowledge services and model development achieving unified operation and monitoring of B-wing AI assets.The 18 AI Master Items have cumulatively deployed 160 scenarios with employees making over 3.11 million cumulative uses and AI autonomously executing more than 13 million tasks. Subsequently the company will advance the launch of the Tianshu workbench and the full-scale deployment of AI scenarios to support the entire online data workflow and accelerate the company's digital and intelligent transformation. 2. Strategic layout and high-efficiency execution capability. The company adheres to strategic guidance advances its three major plans in depth upholds the principle of "no efficiency no Changan" continuously enhances total factor productivity and drives the implementation of its strategy to deeper and more substantive levels. The company in coordination with the Group released the "1445" strategy of China Changan Automobile Group providing strategic guidance on the company's vision core businesses key transformations and operational objectives to ensure the continuous refinement of the company's strategic system.Establish the "1542" global management system leveraging system construction as support and business transformation as the driving force to promote digital and intelligent empowerment achieve efficiency improvements across all elements of people finance assets and data establish efficiency as a core competitive advantage and efficiently advance the three major initiatives. In the new energy sector mass production of the next-generation electric drive and battery management systems will reduce end-of-line charging time by 30%. Deepen cooperation with CATL initiate the sodium-ion battery swapping technology Item and jointly develop new battery systems. Conduct validation of 20Ah oxygen-polymer composite solid-state batteries establish the Chenzhi Anqi retired battery crushing production line and complete the strategic layout for the full battery lifecycle. Launching the global hybrid China solution Blue Whale Super Engine to propel light-duty family sedans into the "2-liter" fuel consumption era in urban areas. In terms of intelligence the "Beidou Tianshu 2.0" initiative is advancing steadily to establish a central ring network SDA platform extending security into a proactive multi-dimensional "pan-security" encompassing driving health psychological well-being and privacy. End-to-end intelligent driving achieves full-scenario coverage. Urban NOA (Navigation Assisted Driving) equipped with a fully self-developed distributed electric drive system achieves stability control even during a tire blowout at speeds 10Chongqing Changan Automobile Co. Ltd. 2026 Semi-Annual Report up to 225 km/h thereby eliminating safety anxiety under extreme operating conditions. Granted an L4-level Robotaxi testing license to accelerate the commercialization of autonomous driving in shared mobility. The establishment of the Chang'an Tianshu Intelligent Robotics Company further expands the boundaries of the future ecosystem. In terms of globalization the "Inclusive Plan 2.0" was launched expanding the global sales network to 129 countries and regions with a reserve of 485 local overseas suppliers a category coverage rate of 43% and a local demand satisfaction rate reaching 99%. Implement a "one zone one policy" staffing model strengthen the KD director team and promote the localization of operations in quality and logistics. Refine the mechanisms for overseas incentives performance evaluation and job rotation and improve the localized employment system. The global manufacturing system continues to improve overseas production capacity is expanding rapidly and mass production has commenced for 17 KD Items across eight countries including Brazil. Global brand building has yielded substantial results including the organization of global partner conferences and the launch event for the Changan NEVO Q05 in Thailand alongside global communication campaigns leveraging the FIFA World Cup IP. "The "Three Major Plans" are being advanced efficiently with an unwavering commitment to transforming into an intelligent and low-carbon mobility technology company and progressing toward becoming a world-class automotive brand. 3. Cultural leadership capability. The company continuously deepens its historical and cultural genes and spiritual core of "seeking innovation through change embracing openness and inclusivity adhering to scientific rationality and demonstrating unyielding resilience" while constantly strengthening the guiding role of its corporate culture. Establishing its foundation in the automotive sector from scratch in 1981; launching a second entrepreneurial phase in 2003 successfully expanding its independent passenger vehicle market and accelerating its global layout to achieve dual leaps in scale and technology; Launched its third entrepreneurial drive in 2017 to transform into a smart low-carbon mobility technology company successively unveiled the "Shangri-La" "Beidou Tianshu" and "Haina Baichuan" initiatives established the Avatr Deepal and Changan NEVO intelligent digital new energy brands and steadily advanced toward becoming a world-class automotive brand. At the same time the company continues to build a globally leading cultural system characterized by "global integration and respect for differences" deeply integrating cultural concepts and core values into management standards processes performance evaluation and other key areas to establish a replicable adaptable and sustainable global cultural operation mechanism; it constructs a management specification system encompassing "institutional processes management principles and leading culture" dynamically revises the leading cultural concepts in accordance with the principle of "annual review and triennial iteration" continuously inherits and promotes Changan Automobile's leading culture and effectively transforms culture into a core competitive advantage. 4. Talent and organizational capability. The company adheres to internal synergy to solidify endogenous momentum achieves value co-creation through external ecosystem collaboration systematically advances the global talent system construction and stimulates organizational innovation vitality. The company's indirect controlling shareholder China Changan covers the entire automotive industry chain including the research and development manufacturing trading logistics and ecosystem of automobiles and parts possessing strong capabilities in providing full-stack automotive professional solutions. Changan Automobile of China adheres to optimizing its industrial layout collaboratively cultivating new business formats models and scenarios and accelerating its transition from a manufacturing-oriented entity to an integrated manufacturing and service provider. Deepen strategic cooperation with core partners such as Huawei CATL Tencent and Baidu to cross-industry build an integrated "Vehicle-Energy-Road-Cloud-Network-Satellite" large-scale industry and ecosystem. Focusing on the user's full lifecycle scenarios we will engage in deep collaboration with leading domestic AI ICT enterprises and IoT ecosystem companies to achieve comprehensive integration of the "human-vehicle-home-office" digital intelligence ecosystem thereby assisting Changan Automobile in integrating superior industrial resources and embedding itself into the broader ecosystem. Furthermore the company continues to ensure robust human resource support vigorously optimize its organizational structure and invigorate the vitality of its talent workforce. Strengthen the selection cultivation utilization and training of composite talents continuously improve the training system for overseas expansion talents persistently carry out international talent development and simultaneously recruit mid-to-senior level professionals. Continuously implement the "New Horizon Plan" to facilitate the transformation of outstanding domestic core personnel into overseas roles across various sectors. Strengthen incentives and constraints optimize the hierarchical 11Chongqing Changan Automobile Co. Ltd. 2026 Semi-Annual Report incentive assessment mechanism and cover multiple indicators including sales volume revenue profit and expenses. Formulate an incentive scheme for achieving special performance targets in overseas markets for 2026 adhering to the principle of balancing volume and profitability to advance the overseas doubling plan. Optimize the systems and frameworks related to compensation management and year-end incentives. 5. Technological R&D capabilities. The company adheres to R&D innovation steadily advancing core technologies and product Items while achieving breakthroughs in key core technologies across multiple fronts. Regarding the vehicle and platform 13 cross-domain new functions including predictive anti-skid rear-end collision injury reduction and active wheel lifting have been completed while 5 safety-inclusive functions such as blowout stability control and slippery road assistance are being advanced for implementation. In the new energy sector a newly developed second-generation fuel cell system achieves a volumetric power density of ≥650 W/L and an efficiency of ≥60% enabling high-power high-efficiency and high-reliability operation across all scenarios while reducing costs by 70% to achieve price parity between hydrogen and electricity. Successfully overcame key technical challenges in novel electrolytes lithium metal anodes and interface regulation achieving a novel electrolyte conductivity exceeding 4.5 mS/cm a solid-state battery energy density surpassing 350 Wh/kg and thermal stability up to 250°C. Sodium-ion batteries achieve a breakthrough in single-point technology for high-power electrodes enhancing driving range experience under extreme temperature conditions. In terms of intelligence the offline mode for mobile phone-based vehicle control without network or cloud connectivity has been launched and implemented as a first-in-vehicle feature enabling core driving operations such as unlocking locking and starting the vehicle even in network-free environments. Complete the development of the central-plus-regional hierarchical architecture and achieve mass production deployment. Successfully completed the development and application of three new safety redundancy strategies thereby enhancing vehicle architecture-level safety. The self-developed end-to-end large model for urban pilot-assisted driving will be exclusively launched on new vehicle models while the parking assistance functionality achieves industry-leading standards. The self-developed L4 Robotaxi system solution has been awarded the first L4 testing license for road tests with passengers in Chongqing. In the realm of forward-looking technologies we have completed the development of over ten technical prototypes including satellite communication and geographic information compliance platforms; achieved breakthroughs in battery sequence large models and multimodal emotion recognition; independently mastered core technologies such as scene generation models formal verification toolchains and closed-loop data systems for dynamic bottom data; and jointly led the publication of one ITU international standard. In terms of scientific and technological achievement awards the company has received one Second Prize of the National Science and Technology Progress Award eleven Chongqing Science and Technology Awards including one First Prize in Science and Technology Progress as the lead entity one First Prize in Science and Technology Progress and one First Prize in Technical Invention as a participating entity and has also been honored with the Enterprise Technological Innovation Award thereby demonstrating the company's strength in scientific and technological innovation. As of June 30 2026 the Company holds 14092 valid patents including 6186 invention patents.III. Analysis of Main Business Overview Whether it is consistent with the disclosure of the company's principal business activities during the reporting period.√ Yes □ No Please refer to the relevant content under "I. The main business of the Company in the reporting period ".Year-on-year changes in key financial data Unit: RMB This reporting period The same period last year Year-on-year change Operating Revenue 65634329742.16 72691310387.08 -9.71% Operating cost 56117100062.15 62093645283.41 -9.63% 12Chongqing Changan Automobile Co. Ltd. 2026 Semi-Annual Report Taxes and Surcharges 1066853006.30 1668033001.81 -36.04% Sales expense 3860975148.50 4361492467.23 -11.48% Administrative expenses 1633507400.67 2228013321.96 -26.68% R&D input 3154733904.46 3283657283.48 -3.93% Financial expense 69130695.55 -1956937280.34 103.53% Income tax expense 78188897.89 376316886.76 -79.22% Net profit attributable to shareholders 817395511.852291211254.67-64.32% of listed company Net cash flow from operating activities -11413452268.37 -8607196790.27 -32.60% Net cash flow from investing activities -2140256831.05 -3026061124.97 29.27% Net cash flows from financing activities -932105555.82 257144644.23 -462.48% Net increase in cash and cash -14514301556.92-11088386537.51-30.90% equivalents During the reporting period the change in "Taxes and Surcharges" was primarily driven by a decline in vehicle sales; the change in "Financial Expenses" was mainly due to exchange losses and a reduction in interest income; the change in "Income Tax Expense" was primarily attributable to a decrease in the total profit of subsidiaries; the change in "Net Profit Attributable to Shareholders of the Listed Company" was mainly caused by a decline in sales volume and a reduction in exchange gains (excluding the impact of exchange gains net profit attributable to shareholders of the listed company increased by 12% year-on-year); the change in "Net Cash Flow from Operating Activities" was primarily due to a decrease in cash collections from maturing sales; the change in "Net Cash Flow from Financing Activities" was mainly influenced by share repurchase expenditures in the current period; and the change in "Net Increase in Cash and Cash Equivalents" was primarily due to the reduction in net cash flow from operating activities in the current period.Major changes on profit composition or profit resources in reporting period □Applicable √ Not Applicable There have been no significant changes in the composition or sources of the company's profits during the reporting period.Composition of Operating Revenue Unit: RMB This reporting period The same period last year Proportion of Proportion of Year-on-year change Amount Amount operating revenue operating revenue Total Operating 65634329742.16100%72691310387.08100%-9.71% Revenue By industry Automobile 65634329742.16 100.00% 72691310387.08 100.00% -9.71% By product Vehicles 62500075307.28 95.22% 69509129359.35 95.62% -10.08% Services and others 3134254434.88 4.78% 3182181027.73 4.38% -1.51% By region China 43691870564.87 66.57% 60417330487.94 83.11% -27.68% Overseas 21942459177.29 33.43% 12273979899.14 16.89% 78.77% 13Chongqing Changan Automobile Co. Ltd. 2026 Semi-Annual Report Information on industries products or regions accounting for more than 10% of the company's operating revenue or operating profit.√ Applicable □ Not Applicable Unit: RMB Change in Change in gross Change in cost operating profit margin of sales Gross profit revenue compared to the Operating Revenue Operating Cost compared to the margin compared to the same period of same period of same period of the previous the previous year the previous year year.By industry Automotive manufacturing 65634329742.16 56117100062.15 14.50% -9.71% -9.63% -0.08% industry By product Selling goods 62500075307.28 53380425906.76 14.59% -10.08% -10.17% 0.09% By region China 43691870564.87 38592553616.53 11.67% -27.68% -26.56% -1.36% Overseas 21942459177.29 17524546445.62 20.13% 78.77% 83.59% -2.10% Statistical scope of the company's core business operations. In the event of adjustments occurring during the reporting period the adjusted main business data for the most recent reporting period based on the reporting period-end basis.□ Applicable √ Not Applicable IV. Analysis of Non-Core Business √ Applicable □ Not Applicable Unit: RMB Proportion of total Whether it is sustainable or Amount Explanation of the causes profit not Please refer to "Item (55) Other income 668609055.54 258.25% Other Income" in Note VII of No.the financial report.Except for the gain of 161 million RMB arising from Please refer to "Note (56) the non-common control Investment returns 188984988.77 72.99% Investment Income" in Note business combination with VII of the financial report.Jiangling Holdings the remainder is sustainable.Please refer to "Note (59) Impairment Loss onAssets" Asset impairment -463135760.68 -178.88% No.in Note VII of the Financial Report.Gain on disposal of 75172176.38 29.03% No. assets Non-operating 45557329.01 17.60% No. 14Chongqing Changan Automobile Co. Ltd. 2026 Semi-Annual Report income Non-operating 35733896.93 13.80% No. expenses V. Analysis of Asset and Liability Status 1. Major Changes in Asset Composition Unit: RMB At the end of the reporting period. At the end of last year. Increase or decrease in Proportion of Proportion of Amount Amount specific total assets total assets gravity Cash and cash 39651834716.8521.13%54021735265.2926.62%-5.49% equivalents Accounts 7500132576.254.00%4196844647.152.07%1.93% Receivable Contract assets 158686119.07 0.08% 155271537.07 0.08% 0.00% Inventory 23115384353.37 12.32% 22518286370.64 11.09% 1.23% Investment 5629224.580.00%5742580.360.00%0.00% property Long-term equity 20549846834.08 10.95% 20426682382.90 10.06% 0.89% investment Fixed assets 22310782207.86 11.89% 22048786066.87 10.86% 1.03% Construction in 1214566887.410.65%1028734574.340.51%0.14% progress Right-of-use 345883003.440.18%396605258.850.20%-0.02% asset Short-term 43728914.900.02%512275913.930.25%-0.23% borrowings Contract 8418775954.694.49%6908609058.223.40%1.09% liabilities Long-term 41502388.140.02%-0.00%0.02% borrowings Lease liabilities 219290767.20 0.12% 299147228.72 0.15% -0.03% At the end of the reporting period the change in "Accounts Receivable" was primarily driven by intensified market competition and the increased support provided to distributors. 2. Major Overseas Assets □Applicable √ Not Applicable 3. Assets and liabilities measured at fair value √ Applicable □ Not Applicable 15Chongqing Changan Automobile Co. Ltd. 2026 Semi-Annual Report Unit: RMB Cumulat Profit or loss ive fair Impairme from changes value nt accrued Purchase Other Opening Sales amount Ending Item in fair value changes for the amount for chang balance for this period balance for the current recogniz current this period es period ed in period.equity Financial assets 1. Financial assets held for trading 18219493.88 79969967.24 98189461.12 (excluding derivative financial assets) 2. Derivative financial 31339394.10 1202297.63 30137096.47 assets 3. Other equity instrument 692201858.72 692201858.72 investments Subtotal of financial 692201858.72 49558887.98 79969967.24 1202297.63 820528416.31 assets The total of the above 692201858.72 49558887.98 79969967.24 1202297.63 820528416.31 items.Financial liabilities -9148442.85 -9148442.85 Note: The details of financial assets held for trading and other equity instrument investments are provided separately in Note VII (II) "Financial Assets Held for Trading" and Note VII (XIII) "Other Equity Instrument Investments" of the financial report.Whether there were any significant changes in the measurement attributes of the Company's major assets during the reporting period.□ Yes √ No 4. Status of restricted asset rights as of the end of the reporting period Unit: RMB Item Ending book value Reason for restriction Cash and cash equivalents 1172965121.02 Margin and other related items.Notes Receivable 4817604907.45 Pledge of bills of exchange Total 5990570028.47 VI. Analysis of Investment 1. Overall situation √ Applicable □ Not Applicable Investment amount for the reporting period Investment amount for the same period of Fluctuation magnitude (in RMB) the previous year (in RMB) 4456106772.334756478732.84-6.32% 16Chongqing Changan Automobile Co. Ltd. 2026 Semi-Annual Report 2. Major equity investment activities acquired during the reporting period. □Applicable √ Not Applicable 3. Major non-equity investments in progress during the reporting period. □Applicable √ Not Applicable 4. Investment in financial assets (1) Securities Investment Status √ Applicable □ Not Applicable Unit: RMB Accou Profit or loss Cumulative Securit Sales Profit or loss Accou Securities Initial nting Openin from changes fair value Purchase Securiti ies amount for the Ending book nting Source instrument investment measur g book in fair value changes amount for this es CodeAbbrev for this reporting value subject of funds s cost ement value for the current recognized in period iation period period s model period. equity Tradin Domestic Fair g and value Own 603293 Atek 79969967.24 0 18219493.88 0.00 79969967.24 0.00 18219493.88 98189461.12 financi overseas measur funds al stocks ement assets Total 79969967.24 -- 0 18219493.88 0.00 79969967.24 0.00 18219493.88 98189461.12 -- -- (2) Derivative Investment Status √ Applicable □ Not Applicable 1) Derivative investments held for hedging purposes during the reporting period. √ Applicable □ Not Applicable During the reporting period the Company did not engage in derivative investments for hedging purposes.Unit: 10000 RMB The proportion Profit or of the loss from Cumulativ Purchase Sales terminal Derivative Initial changes in e fair value amount amount Opening Closing investment investment investment fair value changes during the during the balance balance amount to types amount for the recognized reporting reporting the net current in equity period period assets at period the end of the reporting 17Chongqing Changan Automobile Co. Ltd. 2026 Semi-Annual Report period.Forward foreign - - 10 -68 40827 23839 16988 0.22% exchange - USD Forward Foreign - - 2209 2264 67775 13339 54436 0.72% Exchange - Russian Ruble Total - - 2219 2196 108602 37178 71424 0.94% Explanation of the accounting policies and specific principles for accounting treatment of hedging business during the reporting No.period and whether there were any material changes compared to the previous reporting period.Explanation of the actual profit and loss Sales during the reporting period amounted to 371.78 million RMB with an actual trading loss of 230000 situation during RMB.the reporting period.Explanation of Changan Automobile adheres to the principle of risk neutrality in its forward foreign exchange buying and Hedging selling business basing its operations on normal production and management activities; by utilizing foreignexchange forward transactions to lock in revenues and costs the company mitigates exchange rate fluctuation Effectiveness risks reduces the uncertainty of operating profits.Sources of Funding for Own funds Derivative Investments (I) Risk analysis Explanation of 1. Market Risk: In scenarios where exchange rates fluctuate significantly the discrepancy between the forward risk analysis exchange rate and the actual spot rate at maturity may result in foreign exchange losses for the company.and control 2. Liquidity risk: Due to inaccurate forecasting a discrepancy arose between the settlement date stipulated in measures the forward foreign exchange contract and the actual settlement date resulting in insufficient available funds at regarding the time of settlement thereby triggering liquidity risk and causing the failure to settle on schedule.derivative 3. Operational Risk: Risks may arise due to inadequate internal control mechanisms and unprofessionalpersonnel.positions held 4. Bank default risk: In the case of forward foreign exchange transactions if the bank fails during the contract during the period the company may be unable to execute the foreign exchange contract at the agreed price thereby reporting exposing itself to the risk that the risk exposure cannot be effectively hedged.period (II) Risk Control Measures (including but 1. The Company and its subsidiaries will monitor fluctuations in the foreign exchange market strengthen not limited to research on exchange rates forecast future exchange rate trends enhance their ability to assess exchange ratemovements and mitigate the impact of exchange rate volatility on the Company.market risk 2. To prevent failure in the timely settlement of forward foreign exchange transactions the company and its 18Chongqing Changan Automobile Co. Ltd. 2026 Semi-Annual Report liquidity risk subsidiaries' business management departments will monitor payment and collection progress to avoid overdue credit risk situations and minimize risks to the lowest possible extent.operational 3. The Company and its subsidiaries have established an FX research team and an FX trading risk control teamand have set up a forward FX trading working mechanism covering FX research trading risk control and risk legal risk scheme approval. The foreign exchange trading function shall be structured with a clear separation of front etc.) middle and back office roles and personnel accompanied by a regular rotation mechanism. 4. The company has formulated the "Interim Measures for the Administration of Forward Foreign Exchange Trading Business" which clearly stipulates management principles management systems operational procedures and risk control measures and requires strict adherence to these institutional requirements during operations. 5. The counterparties for the company and its subsidiaries' forward foreign exchange trading business are selected from financial institutions with legal qualifications good credit standing and established long-term business relationships with the company thereby presenting a low default risk.The changes in market prices or fair values of derivative products during the reporting period of investments The Company recognizes and measures financial instruments in accordance with the "Measurement of and the analysis Financial Instruments" Chapter of Accounting Standard for Business Enterprises No. 22—Recognition and of the fair value Measurement of Financial Instruments with fair value measurements and recognition primarily based on bank of derivatives pricing. During the reporting period the gain or loss from changes in the fair value of foreign exchange shall disclose forward contracts amounted to 22.19 million RMB.the specific methods used as well as the settings of relevant assumptions and parameters.Litigation status (if None applicable) Disclosure date of the board resolution approving March 3 2026 derivative investments (if applicable) Disclosure date of the shareholders' meeting announcement None regarding the approval of derivative investments (if applicable) 2) Derivative investments held for speculative purposes during the reporting period. □ Applicable √ Not Applicable 19Chongqing Changan Automobile Co. Ltd. 2026 Semi-Annual Report The Company had no derivative investments for speculative purposes during the reporting period. 5. Use of Raised Funds □Applicable √ Not Applicable During the reporting period the Company had no utilization of raised funds.VII. Sale of significant Assets and Equity 1. Sale of significant assets □ Applicable √ Not applicable 2. Sale of significant equity □ Applicable √ Not applicable VIII. Analysis of Major Holding and Joint Stock Companies √ Applicable □ Not Applicable Status of major subsidiaries and associated companies whose impact on net profit exceeds 10% Unit: 10000 RMB Company Name Company Core business Registered Total Operating OperatingType Capital Assets Net Assets Revenue profit Net profit Manufacturing and sales Hefei Changan Automobile Co. Ltd. subsidiary of automobiles and auto 227500 725705 285530 645537 -8406 -8529 parts.Chongqing Changan Automobile Customer Business operations Service Co. Ltd. subsidiary related to automotive 3000 173780 33274 262331 70310 59781spare parts.Chongqing Changan Automobile Export and service of International Sales & Service Co. Ltd. subsidiary automobiles parts and 142276 1532317 276881 431562 16282 13664technologies.Business activities related Chongqing Changan Technology Co. Ltd. subsidiary to automotive research 9000 163013 136877 59178 -16694 -16752 and development.Export and service of Chongqing Xingzhi Technology Co. Ltd. subsidiary automobiles parts and 4900 1466456 89609 1090501 20036 16460 technologies.Equity Investment management Nanchang Jiangling Investment Co. Ltd. investment industrial investment and 100000 3233892 1231737 1936187 83513 74252 company asset management.Equity Manufacturing and sales Changan Ford Automobile Co. Ltd. investment of automobiles and their USD24100 2017292 288886 1362672 10896 26203company components.Equity Changan Automobile Finance Co. Ltd. investment Automotive company finance-related business 476843475906311910811634854247638796 Status of acquisitions and disposals of subsidiaries during the reporting period √ Applicable □ Not Applicable 20Chongqing Changan Automobile Co. Ltd. 2026 Semi-Annual Report Methods of acquisition and disposal of The impact on overall production Company Name subsidiaries during the reporting period. operations and financial performance.Business combinations not under Jiangling Holdings Co. Ltd. No significant impact.common control Description of Major Holding and Participating Companies During the reporting period Chongqing Xingzhi Technology Co. Ltd. and Chongqing Changan International Auto Sales Service Co. Ltd. were responsible for export operations; impacted by intense market competition they increased resource investment resulting in a year-over-year decline in overall profits. Hefei Changan Automobile Co. Ltd. and Changan Ford Automobile Co. Ltd.primarily experienced a year-on-year decline in profits due to a drop in sales volume while Changan Automobile Finance Co. Ltd.saw a year-on-year decrease in interest income mainly attributable to a reduction in the average loan scale.IX. Structure of Structured Entities Controlled by the Company □Applicable √ Not Applicable X. Possible risks and corresponding measures Currently the automotive industry faces dual challenges of pressure in the domestic market and a complex volatile international situation. The domestic automotive market has entered a stabilization phase characterized by fluctuating demand and intensifying competition. Although export markets have maintained high growth intensified geopolitical competition among major powers the resurgence of protectionism and frequent regional geopolitical conflicts have introduced significant uncertainties for enterprises in trade investment procurement and logistics. 1. Market risk Regarding the domestic market with the phase-out of previous subsidy policies and intensifying consumer wait-and-see sentiment the growth rate of domestic demand has significantly slowed; the industry has entered a stage of stock-game competition with profit margins falling to historical lows. Regarding overseas markets exports continue to grow rapidly serving as a key growth engine for the automotive industry yet they face numerous potential risks: certain countries are researching and enacting tariffs and restrictive regulations thereby continuously raising institutional compliance thresholds while market access in some regional markets is becoming increasingly difficult.Response Strategy: In the face of intensifying market competition the company adheres to the business principles of value orientation and a balance between volume and profitability proactively avoids vicious price competition and focuses on building differentiated competitiveness through product and service excellence. Adhere to long-termism pursue brand elevation and remain steadfast in high-end upgrading technological innovation ecosystem integration and global development. On the product side we will steadfastly advance the flagship product strategy and lean management by integrating the supply chain ecosystem and product platform to comprehensively enhance product competitiveness across the entire value chain; on the service side centered on customer value we will construct an integrated "product-plus-service" value-added ecosystem establish a manufacturer-collaborative smart butler operation system reshape customer service processes and improve systematic problem-solving capabilities. Regarding overseas markets we will accelerate the transition from "product export" to "system export" by establishing local manufacturing facilities assembling KD kits and engaging in cross-border technical cooperation to deeply integrate into the global market and build a resilient global operational system. 2. Risks associated with material procurement and cost control On the one hand geopolitical conflicts and localized wars have to a certain extent driven up prices of bulk commodities and resource products and may obstruct key maritime shipping routes thereby increasing transportation costs. On the other hand against 21Chongqing Changan Automobile Co. Ltd. 2026 Semi-Annual Report the backdrop of great power competition the proliferation of technological blockades export controls and investment reviews has disrupted the stability of global trade and supply chains potentially causing price volatility and supply shortages of critical components such as automotive chips thereby further squeezing automakers' profit margins and intensifying operational pressures.Mitigation Strategy: The company is continuously building a diversified logistics and supply chain resilience system. To mitigate risks associated with blocked sea lanes and rising costs implement multimodal transport solutions combining sea and land freight open alternative routes bypass conflict zones and ensure uninterrupted logistics flow. In terms of ensuring the supply of critical materials priority is given to strengthening the autonomy of core technologies and diversifying supply channels. On one hand increase investment in underlying technology research and development to accelerate the independent innovation and industrial synergy of key core components; on the other hand expedite the construction of a globalized and diversified matrix of raw material and component suppliers to avoid excessive reliance on any single region or supplier thereby mitigating the risk of supply disruptions.XI. Implementation of Market Value Management System and Valuation Improvement Plan Whether the company has established the market value management system.√ Yes □ No Whether the company has disclosed the valuation improvement plan.□ Yes √ No On April 9 2025 the 40th meeting of the 9th Board of Directors of the Company deliberated and approved the proposal entitled "On Formulating the Market Value Management System." To strengthen the company's market value management further standardize its market value management practices and effectively enhance the company's investment value and ability to return value to shareholders in accordance with relevant provisions of the "Company Law of the People's Republic of China" "Securities Law of the People's Republic of China" "Several Opinions of the State Council on Strengthening Supervision Preventing Risks and Promoting High-Quality Development of the Capital Market" "Several Opinions on Improving and Strengthening the Market Value Management of Central Enterprise Holding Listed Companies" "Regulatory Guideline No. 10 for Listed Companies—Market Value Management" and other laws regulations normative documents as well as the "Articles of Association" the Company has formulated the "Chongqing Changan Automobile Co. Ltd. Market Value Management System." XII. Implementation of the “Parallel Improvement of Quality and Return” Initiative Whether the company has disclosed the announcement of the action plan of “Parallel Improvement of Quality and Return” .√ Yes □ No To implement the guiding principle of "vitalizing the capital market and boosting investor confidence" proposed at the meeting of the Political Bureau of the CPC Central Committee to better fulfill the "three roles" of central enterprises in technological innovation industrial control and security support to safeguard the interests of all shareholders enhance investor confidence and promote the company's long-term healthy and sustainable development the company has formulated a "Dual Improvement in Quality and Returns" action plan with specific measures including firmly adhering to strategic guidance to accelerate the transformation into an intelligent low-carbon mobility technology company improving the standards of corporate governance and operational compliance strengthening information disclosure to enhance corporate transparency and prioritizing shareholder returns to increase investor satisfaction. For specific details please refer to the Company's Announcement on the "Quality and Return Dual Improvement" Action Plan disclosed on the CNINFO website (www.cninfo.com.cn) on March 7 2024 (Announcement No. 2024-13). Furthermore the company disclosed the "Progress Announcement on the 'Quality and Return Dual Improvement' Action Plan" (Announcement No. 2024-26) on April 18 2024. 22Chongqing Changan Automobile Co. Ltd. 2026 Semi-Annual Report Based on firm confidence in the company's strategic development prospects and intrinsic value and to effectively safeguard the legitimate rights and interests of all shareholders the Company convened its 54th meeting of the 9th Board of Directors on February 28 2026 and its 2nd Extraordinary General Meeting of Shareholders for 2026 on March 19 2026 to approve the "Proposal on the Share Repurchase Plan via Centralized Bidding Trading" thereby authorizing the Company to use its own funds to repurchase its ordinary shares (Class A shares) and domestic listed foreign shares (Class B shares) via centralized bidding for the purpose of reducing registered capital. As of July 31 2026 the Company has repurchased 176272521 shares of its own stock through its dedicated securities account for share repurchases via centralized bidding transactions representing 1.78% of the Company's current total share capital.The company actively carries out investor relations management in strict adherence to the principles of openness fairness and impartiality and strives to maintain a positive relationship between the company and its investors by establishing a multi-level mechanism for constructive interaction. First we will enhance investors' understanding and recognition of the company's key strategic areas including new energy intelligence and globalization through diverse online and offline interaction channels such as on-site receptions site visits research surveys telephone conferences and the "Interactive Easy" platform of the Shenzhen Stock Exchange. Secondly by integrating with the company's major brand activities we organize investors to participate in thematic exchanges and exclusive test drive experiences thereby helping them understand the company's long-term investment value. Third we will hold regular performance briefing sessions; the company will convene the "2026 Semi-Annual Performance Briefing" via remote online platform on Monday August 31 2026 from 15:00 to 16:00 and warmly invites all investors to actively participate. 23Chongqing Changan Automobile Co. Ltd. 2026 Semi-Annual Report Chapter 4 Corporate Governance Environmental and Social Responsibility I. Changes in the Company's Directors and Senior Management Personnel √ Applicable □ Not Applicable Full Name Position held Type Date Reason Chief Accountant and Ni Erke Secretary of the Board of Appointment February 12 2026 Due to work needs Directors Zhang Deyong Director Leave office February 28 2026 Due to work needs Chief Accountant and Zhang Deyong Secretary of the Board of Dismissal February 28 2026 Due to work needs Directors Ni Erke Director Elected March 19 2026 Due to work needs Chen Zhuo Vice President Appointment June 15 2026 Due to work needs Di Zhirui Vice President Appointment June 15 2026 Due to work needs Peng Tao Executive Vice President Leave office July 30 2026 Due to work needs II. Preplan for Company common stock profit distribution and capital reserves converting into share capital in the reporting period □Applicable √ Not Applicable The company plans to distribute no cash dividends issue no bonus shares and make no capitalization of reserves into share capital for the half-year period.III. Implementation status of the company's equity incentive plan employee stock ownership plan or other employee incentive measures.√ Applicable □ Not Applicable 1. Equity incentive plan On July 13 2020 the Company's 8th Board of Directors 2nd Meeting and the 8th Board of Supervisors 2nd Meeting deliberated and approved resolutions including "Proposal on Reviewing the and its Summary" and "Proposal on Reviewing the ." The company's independent directors issued a favorable independent opinion on the incentive plan. 24Chongqing Changan Automobile Co. Ltd. 2026 Semi-Annual Report On February 1 2021 the Company's 8th Board of Directors 11th Meeting and the 8th Supervisory Board 7th Meeting deliberated and approved resolutions including the "Proposal on Deliberating the and its Summary" and the "Proposal on Deliberating the ." The company's independent directors issued a favorable independent opinion on the revision of the incentive plan.On February 18 2021 the Company convened its first extraordinary general meeting of shareholders for 2021 at which the following resolutions were adopted: "Proposal on Reviewing the and its Summary" "Proposal on Reviewing the " and "Proposal to Request the Shareholders' General Meeting to Authorize the Board of Directors to Handle All Matters Related to the Equity Incentive Plan in Full." On February 22 2021 the Company convened the 12th meeting of the 8th Board of Directors and the 8th meeting of the 8th Board of Supervisors at which resolutions were adopted regarding the proposal to adjust the list of initial grant recipients and the number of restricted shares under the A-share restricted share incentive plan as well as the proposal to grant restricted shares to the initial grant recipients of the A-share restricted share incentive plan among other proposals. The company's independent directors issued their independent opinions expressing concurrence.On March 3 2021 the Company disclosed the Announcement on the Completion of Registration for the Initial Grant of the A-Share Restricted Stock Incentive Plan. A total of 1247 actual recipients were granted 76.1954 million restricted shares with the listing date of the restricted shares set for March 5 2021.On August 30 2021 the Company convened the 25th meeting of the 8th Board of Directors and the 12th meeting of the 8th Board of Supervisors at which the resolutions on the "Proposal to Adjust the Repurchase Price of the A-Share Restricted Stock Incentive Plan" and the "Proposal to Repurchase and Cancel the Restricted Stocks Granted to Certain Incentive Objects but Not Yet Released from Lock-up" were deliberated and approved. The company's independent directors issued their independent opinions expressing concurrence.On September 17 2021 the Company convened its second extraordinary general meeting of shareholders for 2021 at which the proposal regarding the repurchase and cancellation of restricted shares granted to certain incentive recipients but not yet released from lock-up was deliberated and approved.On November 19 2021 the Company convened the 29th meeting of the 8th Board of Directors and the 15th meeting of the 8th Board of Supervisors at which the resolutions on the "Proposal to Adjust the Number of Reserved Restricted Shares under the A-Share Restricted Share Incentive Plan" and the "Proposal to Grant Reserved Restricted Shares to the Incentive Objects under the A-Share Restricted Share Incentive Plan" were deliberated and approved. The company's independent directors issued their independent opinions expressing concurrence.On December 21 2021 the Company completed the repurchase and cancellation of all restricted shares totaling 1.036 million shares that had been granted to certain original incentive recipients but had not yet met the unlocking conditions.On December 30 2021 the Company disclosed the Announcement on the Completion of the Grant of the Reserved Portion of the A-Share Restricted Stock Incentive Plan. A total of 356 actual recipients were granted awards with 17.7612 million restricted shares allocated to the reserved portion which commenced trading on December 31 2021.On August 2 2022 the Company convened the 43rd meeting of the 8th Board of Directors and the 18th meeting of the 8th Board of Supervisors at which the proposal titled "Regarding the Adjustment of the Repurchase Price for Restricted Shares under the A-Share Restricted Share Incentive Plan and the Repurchase and Cancellation of Certain Restricted Shares" was deliberated and approved. The company's independent directors issued their independent opinions expressing concurrence.On August 18 2022 the Company convened its 2022 Third Extraordinary General Meeting of Shareholders which deliberated and approved the proposal titled "Regarding the Adjustment of the Repurchase Price for A-Share Restricted Stock Incentive Plan and the Repurchase and Cancellation of Certain Restricted Stocks." 25Chongqing Changan Automobile Co. Ltd. 2026 Semi-Annual Report On February 17 2023 the Company convened the 52nd meeting of the 8th Board of Directors and the 21st meeting of the 8th Board of Supervisors at which the proposal regarding the achievement of unlocking conditions for the first unlocking period of the initial grant portion of the A-share restricted stock incentive plan was deliberated and approved. The company's independent directors issued their independent opinions expressing concurrence.On March 3 2023 the Company disclosed the "Notice on the Listing and Circulation of Restricted Shares in the First Unlocking Period of the Initial Grant of the A-Share Restricted Stock Incentive Plan" with the listing and circulation date of the unlocked shares set for March 6 2023.On June 20 2023 the Company completed the repurchase and cancellation of a total of 2.476422 million restricted shares that had been granted to certain original incentive recipients but had not yet met the unlocking conditions.On July 27 2023 the Company convened the first meetings of the Ninth Board of Directors and the Ninth Board of Supervisors at which the proposal entitled "Regarding the Revision of the Company's A-Share Restricted Stock Incentive Plan" was deliberated and approved. The company's independent directors issued their independent opinions expressing concurrence.On August 30 2023 the Company convened the Third Meeting of the Ninth Board of Directors and the Second Meeting of the Ninth Board of Supervisors at which the proposal titled "Regarding the Adjustment of the Repurchase Price and the Repurchase and Cancellation of Certain Restricted Shares under the A-Share Restricted Share Incentive Plan" was deliberated and approved. The company's independent directors issued their independent opinions expressing concurrence.On September 15 2023 the Company convened its second extraordinary general meeting of shareholders for 2023 at which the resolutions on the "Proposal to Amend the A-Share Restricted Stock Incentive Plan" and the "Proposal to Adjust the Repurchase Price of the A-Share Restricted Stock Incentive Plan and to Repurchase and Cancel Certain Restricted Stocks" were deliberated and approved.On December 5 2023 the Company completed the repurchase and cancellation of 2.033967 million restricted shares that had been granted to certain original incentive recipients but had not yet met the vesting conditions.On December 8 2023 the Company convened the 12th meeting of the 9th Board of Directors and the 4th meeting of the 9th Board of Supervisors at which the proposal regarding the achievement of conditions for unlocking restricted stock under the A-share restricted stock incentive plan was deliberated and approved. The Nomination and Remuneration Committee of the Company has expressed its consent.On December 27 2023 the Company disclosed the "Announcement on the Listing and Circulation of Restricted Shares Subject to the A-Share Restricted Stock Incentive Plan" with the date for the listing and circulation of the unlocked shares set for January 2 2024. On February 22 2024 the Company convened the 17th meeting of the 9th Board of Directors and the 5th meeting of the 9th Board of Supervisors at which the proposal entitled "Regarding the Achievement of Unlocking Conditions for the Second Tranche of the A-Share Restricted Stock Incentive Plan" was deliberated and approved. The Nomination and Remuneration Committee of the Company has expressed its consent.On March 2 2024 the Company disclosed the "Notice on the Listing and Circulation of Restricted Shares in the Second Unlocking Period of the Initial Grant of the A-Share Restricted Stock Incentive Plan" with the listing and circulation date of the unlocked shares set for March 5 2024.On August 30 2024 the Company convened the 26th meeting of the 9th Board of Directors and the 8th meeting of the 9th Board of Supervisors at which the proposal titled "Regarding the Adjustment of the Repurchase Price and the Repurchase and Cancellation of Certain Restricted Shares under the A-Share Restricted Share Incentive Plan" was deliberated and approved. The Nomination and Remuneration Committee of the Company has expressed its consent.On September 19 2024 the Company convened its 2024 Third Extraordinary General Meeting of Shareholders which deliberated and approved the proposal titled "Regarding the Adjustment of the Repurchase Price for A-Share Restricted Stock Incentive Plan and the Repurchase and Cancellation of Certain Restricted Stocks." 26Chongqing Changan Automobile Co. Ltd. 2026 Semi-Annual Report On December 20 2024 the Company completed the repurchase and cancellation of 3.202973 million restricted shares that had been granted to certain original incentive recipients but had not yet met the vesting conditions.On December 26 2024 the Company disclosed the "Announcement on the Listing and Circulation of Restricted Shares in the Second Unlocking Period of the Reserved Portion of the A-Share Restricted Stock Incentive Plan" with the listing and circulation date of the unlocked shares set for December 31 2024.On February 21 2025 the Company convened the 38th meeting of the 9th Board of Directors and the 11th meeting of the 9th Board of Supervisors at which the proposal regarding the achievement of unlocking conditions for the third unlocking period of the A-share restricted stock incentive plan was deliberated and approved. The Nomination and Remuneration Committee of the Company has expressed its consent.On March 4 2025 the Company disclosed the "Notice on the Listing and Circulation of Restricted Shares in the Third Unlocking Period of the Initial Grant of the A-Share Restricted Stock Incentive Plan" with the listing and circulation date of the unlocked shares set for March 5 2025.On September 26 2025 the Company convened its 45th meeting of the 9th Board of Directors at which the proposal entitled "Regarding the Adjustment of the Repurchase Price for the A-Share Restricted Stock Incentive Plan and the Repurchase and Cancellation of Certain Restricted Stocks" was deliberated and approved. The Nomination and Remuneration Committee of the Company has expressed its consent.On October 24 2025 the Company convened its first extraordinary general meeting of shareholders for 2025 at which the proposal titled "Regarding the Adjustment of the Repurchase Price for Restricted Shares under the A-Share Restricted Share Incentive Plan and the Repurchase and Cancellation of Certain Restricted Shares" was deliberated and approved.On November 28 2025 the Company convened its 48th meeting of the 9th Board of Directors at which the proposal titled "Regarding the Adjustment of the Repurchase Price for the A-Share Restricted Stock Incentive Plan" was deliberated and approved.The Nomination and Remuneration Committee of the Company has expressed its consent.On December 30 2025 the Company disclosed the "Announcement on the Listing and Circulation of Restricted Shares Subject to Unlocking under the A-Share Restricted Stock Incentive Plan" with the listing and circulation date for the unlocked shares set for January 5 2026.On January 15 2026 the Company completed the repurchase and cancellation of 1.161948 million restricted shares that had been granted to certain original incentive recipients but had not yet met the unlocking conditions.On February 28 2026 the Company convened its 54th meeting of the 9th Board of Directors at which the proposal entitled "Regarding the Repurchase and Cancellation of Certain Restricted Shares" was deliberated and approved. The Nomination and Remuneration Committee of the Company has expressed its consent.On March 19 2026 the Company convened its second extraordinary general meeting of shareholders for 2026 at which the proposal regarding the repurchase and cancellation of certain restricted shares was deliberated and approved.On June 12 2026 the Company completed the repurchase and cancellation of 18564 restricted shares that had been granted to certain original incentive recipients but had not yet met the vesting conditions. 2. Implementation status of the employee stock ownership plan □Applicable √ Not Applicable 3. Other Employee Incentive Measures □Applicable √ Not Applicable 27Chongqing Changan Automobile Co. Ltd. 2026 Semi-Annual Report IV. Disclosure of Environmental Information Whether the listed company and its major subsidiaries are included in the list of enterprises required to disclose environmental information in accordance with the law.√ Yes □ No Number of enterprises included in the list of enterprises subject 13 to mandatory environmental information disclosure (units) Serial Query Index for the Report on Mandatory Disclosure of Numb Enterprise Name Environmental Information er Changan Automobile Co. Ltd. Yangfan For details please refer to the Enterprise Environmental1 Manufacturing Plant Information Disclosure System (Chongqing)(http://219.152.238.198:20041/eps/index/enterprise-search). 2 Chongqing Changan Automobile Co. Ltd. Digital For details please refer to the Enterprise Environmental Intelligence Factory Information Disclosure System (Chongqing)(http://219.152.238.198:20041/eps/index/enterprise-search). 3 Chongqing Changan Automobile Co. Ltd. Liangjiang For details please refer to the Enterprise Environmental Factory Plant Area No. 1 Information Disclosure System (Chongqing)(http://219.152.238.198:20041/eps/index/enterprise-search).Chongqing Changan Automobile Co. Ltd. Liangjiang For details please refer to the Enterprise Environmental4 Factory Phase II Plant Information Disclosure System (Chongqing)(http://219.152.238.198:20041/eps/index/enterprise-search). 5 Chongqing Changan Automobile Co. Ltd. Liangjiang For details please refer to the Enterprise Environmental Factory Plant No. 3 Information Disclosure System (Chongqing)(http://219.152.238.198:20041/eps/index/enterprise-search).Chongqing Changan Automobile Co. Ltd. New Power For details please refer to the Enterprise Environmental6 HE Plant Information Disclosure System (Chongqing)(http://219.152.238.198:20041/eps/index/enterprise-search). 7 Chongqing Changan Automobile Co. Ltd. New Power For details please refer to the Enterprise Environmental NE Plant Information Disclosure System (Chongqing)(http://219.152.238.198:20041/eps/index/enterprise-search). 8 Mold Division Chongqing Changan Automobile Co. For details please refer to the Enterprise Environmental Ltd. Information Disclosure System (Chongqing)(http://219.152.238.198:20041/eps/index/enterprise-search). 9 Chongqing Changan Automobile Co. Ltd. Beijing For details please refer to the Corporate Environmental Changan Automobile Company Information Mandatory Disclosure System (Beijing)(https://hjxxpl.bevoice.com.cn:8002/home).For details please refer to the Enterprise Environmental 10 Chongqing Lingyao Automobile Co. Ltd. Information Disclosure System (Chongqing) (http://219.152.238.198:20041/eps/index/enterprise-search).For details please refer to the Enterprise Environmental Information Disclosure System (Anhui) 11 Hefei Changan Automobile Co. Ltd. (https://39.145.37.16:8081/zhhb/yfplpub_html/#/home) or theAnhui Department of Ecology and Environment (https://sthjt.ah.gov.cn/). Special column link: "Mandatory Disclosure of Corporate Environmental Information" For details please refer to the Enterprise Environmental Information Disclosure System (Jiangsu) 12 Nanjing Changan Automobile Co. Ltd. (http://ywxt.sthjt.jiangsu.gov.cn:18181/spsarchive-webapp/web/viewRunner.htmlviewId=http://ywxt.sthjt.jiangsu.gov.cn:18181 /spsarchive-webapp/web/sps/views/yfpl/views/yfplHomeNew/in dex.js).For details please refer to the Enterprise Environmental 13 Hebei Chang'an Automobile Co. Ltd. Information Disclosure System (Hebei). (http://121.29.48.71:8080/) V. Social Responsibility Situation Changan Automobile adheres to the guidance of Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era thoroughly implements the spirit of the 20th National Congress of the Communist Party of China and all plenary sessions of the 20th 28Chongqing Changan Automobile Co. Ltd. 2026 Semi-Annual Report Central Committee fully executes the State-owned Assets Supervision and Administration Commission's "Guidance on Central Enterprises High-Standardly Fulfilling Social Responsibilities in the New Era" as well as the work requirements from the Ministry of Agriculture and Rural Affairs and the SASAC regarding central enterprises' assistance in comprehensive rural revitalization and targeted poverty alleviation deeply integrates social responsibility and ESG concepts into the entire process of corporate strategy governance and operations high-standardly fulfills political economic and social responsibilities accelerates the transformation into an intelligent low-carbon mobility technology company and achieves high-quality development. 1. Effectively strengthen environmental social and governance (ESG) initiatives. Establish and improve the ESG organizational structure by constructing a four-tier governance architecture spanning the board of directors specialized committees coordinating departments and working groups encompassing a "decision-making management-execution support" framework. Integrate ESG principles into corporate strategy by establishing a "1165" strategic framework centering on the development vision of "Making the Earth Greener and Travel More Beautiful" fully leveraging the coordinating role of the ESG special working group and efficiently advancing the implementation of the ESG development strategy.Firmly fulfill the disclosure obligations of listed companies strengthen high-level ESG information disclosure and publish the Chinese and English versions of the "Changan Automobile 2025 Environmental Social and Governance (ESG) Report" on schedule systematically disclosing over 10 specialized policies and statements on sustainable development including supply chain management and human rights policies thereby achieving an AA rating in both Wind and China Index ESG assessments. 2. Actively carry out social public welfare activities. Adhering to the user-centric "Partner+" brand as the core we organized Changan Avatr Deepal Changan NEVO Changan Automobile and Changan Kaicheng to implement "Partner+ Public Welfare" deeply engaging in the major national strategy of ecological protection in the Yellow River Basin and establishing the "withU Yellow River Protection Season" central enterprise public welfare brand; we successively launched three thematic campaigns—tree planting and greening wetland bird conservation and riverbank cleanup—in TaiRMB Bayannur and Dongying; furthermore we swiftly initiated emergency care and service guarantee actions in response to the rainstorm and flooding in Guangxi fully ensuring user travel safety and minimizing property losses. In the first half of the year the company focused on low-carbon environmental protection educational assistance through compassion and social care actively carrying out social responsibility practices and mobilizing over 130000 users to participate.Avatr has effectively integrated its brand's technological advantages with public welfare initiatives by collaborating with One Foundation to launch the 2026 "Joy for Self Joy for Others · Public Welfare Campaign" supporting the "One Foundation · One Paradise Science and Technology Innovation Classroom" Item through charity market sales with over 5000 employees and users participating to jointly empower rural education.Marking its fourth anniversary Deep Blue Automobile launched the "Return of Migratory Birds Trust with Promise" bird conservation public welfare initiative at the Wuliangsu National Nature Reserve in Inner Mongolia organizing users nationwide to participate in nest construction migratory bird observation and shoreline litter cleanup to support ecological protection in the Yellow River Basin. During the User Service Month Deep Blue car owners coordinated with local car clubs across the nation to jointly participate in wetland ecological protection activities in one hundred cities throughout China. During the Spring Festival travel rush a special public welfare service titled "Warm Journey Home" is launched to provide travel safety assurance and emergency support for returning residents.Changan NEVO in collaboration with Qingsuo Public Welfare has launched the "Oasis NEVO Initiative" and implemented the "Desert Border Locking Action" to reinforce the ecological security barrier of the Hexi Corridor thereby contributing to desertification control and biodiversity conservation. Mobilizing national dealers car owner clubs and a vast community of compassionate vehicle owners we launched a public welfare initiative to provide free exam transportation issued a "silent escort" appeal and pledged to safeguard the dreams of youth.Changan Automobile is committed to building the "Love with Partner Support Group" public welfare IP focusing on four key areas: education assistance elderly care poverty alleviation and ecological protection; in the first half of the year it collaborated 29Chongqing Changan Automobile Co. Ltd. 2026 Semi-Annual Report with the Changan car owner community to organize 15 public welfare events with over 500 car owners participating offline. In the realm of educational assistance and dream-building we visited primary schools in multiple locations across Chongqing Shandong and Sichuan to deliver learning supplies and growth-oriented care to students; regarding elderly care and poverty alleviation we conducted donation and visitation activities at the Foshan Disabled Children and Orphan Rescue Center and the Liaoning SOS Rescue Center launched a search operation for missing elderly persons in Shandong and interpreted Changan Automobile's social responsibility and brand warmth through sustained action; in terms of ecological protection Chongqing car owners ventured deep into the mountains to carry out public welfare tree planting while Shijiazhuang car owners initiated the "Guarding the Mother River" beach cleanup campaign safeguarding green waters and lush mountains through concrete actions.Changan Kaicheng has established a strategic partnership with the International Exchange Center of the Ministry of Emergency Management to actively explore international cooperation mechanisms and solutions for natural disaster prevention and emergency management under the "Belt and Road" Initiative. Focusing on the entrepreneurial needs of returning new-generation farmers we leverage the agricultural drone industry as a strategic entry point to provide technical support and industrial empowerment to returning entrepreneurs thereby driving improvements in agricultural production efficiency. 3. Give full support to the comprehensive revitalization of rural areas. Actively integrate advantageous resources innovate and improve industrial assistance measures deepen comprehensive support for the entire camellia oil industry chain in Youyang and continuously drive an average annual income increase of approximately 4000 RMB per household for over 50000 tea farmers across the county; donate ten years' supply of Youyang camellia oil to Xiaogang Village Xiaohe Town Youyang accompanied by the delivery of Changan NEVO A06 commuter vehicles to solidify age-friendly rural livelihood security; leverage the full-domain sales channel to broaden the marketing of Youyang camellia oil achieving a camellia oil sales revenue of 6.824 million RMB for Youzhou Camellia Oil Technology Company in the first half of the year and facilitating the sale of 21500 RMB worth of Youyang "800 RMB" mineral water thereby empowering industrial development to drive the sustainable growth of local characteristic industries.We vigorously promoted consumption-based assistance to consolidate and expand the achievements of poverty alleviation in designated assistance areas organized the "Walking Together with 30 Million People: A New Chang'an for the New Year" spring festival theme event released promotional posters for consumption assistance and established a direct bridge between high-quality agricultural products from Luchixi and Yanshan counties in Yunnan Province which are under paired assistance and the general workforce through product promotion and interactive experiences; the total amount of consumption assistance in the first half of the year reached 216312 RMB effectively contributing to consolidating the achievements of poverty alleviation and enhancing the quality and efficiency of rural industries in former poverty-stricken areas through concrete actions. 30Chongqing Changan Automobile Co. Ltd. 2026 Semi-Annual Report Chapter 5 Important Matters I. The actual controller shareholders related parties acquirers and other relevant parties of the Company have fulfilled the commitments during the reporting period and have not been fulfilled by the end of the reporting period □Applicable √ Not Applicable During the reporting period there were no commitments made by the actual controllers shareholders related parties acquirers and other relevant parties of the company that were fully fulfilled during the reporting period or remained unfulfilled beyond the deadline as of the end of the reporting period.II. Non-operating funds the listed company occupied by controlling shareholders and their related parties □Applicable √ Not Applicable During the reporting period the Company had no non-operating misappropriation of funds by the controlling shareholder or other related parties.III. Irregular external guarantee □Applicable √ Not Applicable During the reporting period the company had no instances of non-compliant external guarantees.IV. Appointment and Dismissal of Accounting Firms Has the semi-annual financial report been audited □ Yes √ No The company's semi-annual report has not been audited.V. Explanation by the Board of Directors Regarding the "Non-Standard Audit Report" Issued by the Accounting Firm for the Current Reporting Period □Applicable √ Not Applicable VI. Explanation by the Board of Directors Regarding the Circumstances Related to the "Non-Standard Audit Report" on the Previous Year's Financial Statements □Applicable √ Not Applicable VII. Bankruptcy and restructuring □Applicable √ Not Applicable 31Chongqing Changan Automobile Co. Ltd. 2026 Semi-Annual Report No bankruptcy reorganization-related matters occurred during the reporting period of the company.VIII. Crucial litigation events Significant Litigation andArbitration Matters □ Applicable √ Not Applicable During this reporting period the Company had no significant litigation or arbitration matters.Other litigation matters □ Applicable √ Not Applicable IX. Disciplinary Actions and Rectification Measures □Applicable √ Not Applicable During the reporting period the company was not subject to any penalties or rectification measures.X. Integrity Status of the Company Its Controlling Shareholder and Actual Controller □Applicable √ Not Applicable XI. Material Related-Party Transactions 1. Related-party transactions related to daily operations. √ Applicable □ Not Applicable For details please refer to Note 14 "Related Parties and Related Party Transactions" in the Notes to the Financial Statements of the Financial Report. 2. Related-party transactions arising from the acquisition or disposal of assets or equity interests. □Applicable √ Not Applicable During the reporting period the Company did not engage in any related-party transactions involving the acquisition or disposal of assets or equity interests. 3. Related-party transactions arising from joint external investments. □Applicable √ Not Applicable 4. Related creditor and debtor balances √ Applicable □ Not Applicable For details please refer to Note 14 "Related Parties and Related Party Transactions" in the Notes to the Financial Statements of the Financial Report.Are there any non-operating related-party creditor-debtor relationships □ Yes √ No 32Chongqing Changan Automobile Co. Ltd. 2026 Semi-Annual Report During the reporting period the Company had no non-operating related-party creditor's or debtor's relationships. 5. Transactions with associated financial companies √ Applicable □ Not Applicable Deposit business Daily Current period turnover Opening Ending maximum Deposit balance (in Total Deposit Total amount balance Related deposit Relationship interest rate ten Amount for withdrawn in (in ten parties limit (in ten range thousand This Period (in this period (in thousand thousand RMB) Ten Thousand ten thousand RMB) RMB) RMB) RMB) Financial Controlled Co. Ltd. of by the same the Ordnance ultimate 2000000 0.25%-3.5% 1998087 6145363 6225069 1918381 Equipment holding Group company.Controlled Changan by the same Automobile ultimate 2000000 1.7%-1.9% 1126000 539000 665000 1000000 Finance Co.holding Ltd.company.Loan business Current period turnover Opening Ending Loan Limit balance (in Total Loan Total balance Related Loan interest Relationship (in 10000 ten Amount for Repayment (in ten parties rate range RMB) thousand This Period (in Amount for thousand RMB) Ten Thousand This Period (in RMB) RMB) 10000 RMB) Financial Controlled Co. Ltd. of by the same the Ordnance ultimate 100000 2.11%-2.8% 54800 3170 3600 54370 Equipment holding Group company.Credit granting or other financial services Total Amount (in Actual Amount (in Related parties Relationship Business Type 10000 RMB) 10000 RMB) Financial Co. Ltd. of Controlled by the same the Ordnance ultimate holding Credit approval 1700000 202833 Equipment Group company. 6. Transactions between the company's controlled finance company and related parties □Applicable √ Not Applicable 7. Other Significant Related-Party Transactions □Applicable √ Not Applicable 33Chongqing Changan Automobile Co. Ltd. 2026 Semi-Annual Report XII. Major Contracts and Their Performance 1. Status of entrusted management contracting and leasing matters. (1) Custody Status □Applicable √ Not Applicable The company had no entrustment arrangements during the reporting period. (2) Contracting Status □Applicable √ Not Applicable The Company had no contracting arrangements during the reporting period. (3) Leasing Status √ Applicable □ Not Applicable Details regarding related party leases are provided in Note 14 "Related Parties and Related Party Transactions" Item 5(2) of the financial statement notes.Items whose profit or loss impact on the company exceeds 10% of the company's total profit for the reporting period.□ Applicable √ Not Applicable During the reporting period the Company had no lease Items that contributed to profit or loss exceeding 10% of the Company's total profit for the period. 2. Major Guarantees □Applicable √ Not Applicable During the reporting period the Company had no significant guarantee arrangements. 3. Entrusted Asset Management □Applicable √ Not Applicable The company reported no entrusted wealth management activities during the reporting period. 4. Other material contracts □Applicable √ Not Applicable The company had no other material contracts during the reporting period.XIII. Registration Form forActivities Including Research Communication and Interviews Conducted During the Reporting Period √ Applicable □ Not Applicable Reception hours Reception Reception Type of Reception The main topics Index of Basic Survey Conditions 34Chongqing Changan Automobile Co. Ltd. 2026 Semi-Annual Report venue methods Recipient guests discussed and the materials provided.For details please refer to the "Changan Company Automobile: Investor Relations Activity January 14 2026 – Shanghai Roadshow Institutio 32 institutional Record Sheet dated January 16 2026" January 16 2026 event n investors operating statuspublished on the Shenzhen Stock including UBS and strategicplanning etc. Exchange's Interactive Easy platform(http://irm.cninfo.com.cn) on January 16 2026. Four For details please refer to the "Changan institutional Company Automobile: Investor Relations ActivityCompany January 23 2026 conference Field Institutio investors operating status Record Sheet dated January 23 2026" room research n including and strategic published on the Shenzhen Stock Huatai planning etc. Exchange's Interactive Easy platform Securities. (http://irm.cninfo.com.cn) on January 232026.For details please refer to the "Changan Company GF SecuritiesCompany Automobile: Investor Relations Activity February 11 2026 conference Field Institutio and 10 otheroperating status Record Form dated February 11 2026" research n institutional and strategicpublished on the Shenzhen Stockroom investors planning etc. Exchange's Interactive Easy platform(http://irm.cninfo.com.cn) on February 11 2026. 28 institutional For details please refer to the "Changan Shanghai investors Company Automobile: Investor Relations Activity March 4 2026 –Guangzhou Roadshow Institutio including operating statusRecord Sheet dated March 12 2026" March 11 2026 and event n Guolian and strategicpublished on the Shenzhen Stock Shenzhen Minsheng planning etc. Exchange's Interactive Easy platform Securities. (http://irm.cninfo.com.cn) on March 122026.The "Cloud For details please refer to the "Changan Interview" Online Company Automobile: Investor Relations Activitycolumn on April 13 2026 the interaction Others For publicoperating status Record Sheet dated April 13 2026" "Interactive on network investors and strategic published on the Shenzhen Stock platforms. planning etc. Exchange's Interactive Easy platformEasy" (http://irm.cninfo.com.cn) on April 13 platform. 2026.The "Cloud For details please refer to the "Changan Interview" Online Company Automobile: Investor Relations Activitycolumn on interaction For publicoperating statusRecord Sheet dated April 28 2026"April 28 2026 the "Interactive on network Others investors and strategicpublished on the Shenzhen Stock platforms. planning etc. Exchange's Interactive Easy platformEasy" (http://irm.cninfo.com.cn) on April 28 platform. 2026.Ten For details please refer to the "Changan institutional Company Automobile: Investor Relations Activity May 12 2026 – Shanghai Roadshow Institutio investors operating statusRecord Sheet dated May 14 2026"May 13 2026 event n including and strategicpublished on the Shenzhen Stock HuaRMB planning etc. Exchange's Interactive Easy platform Securities. (http://irm.cninfo.com.cn) on May 14 2026.Seven For details please refer to the "Changan Company institutional Company Automobile: Investor Relations Activity June 18 2026 conference Field Institutio investors operating statusRecord Sheet dated June 18 2026" room research n including and strategicpublished on the Shenzhen StockSouthwest planning etc. Exchange's Interactive Easy platform Securities. (http://irm.cninfo.com.cn) on June 19 2026.XIV. Explanation of Other Significant Matters □Applicable √ Not Applicable There are no other significant matters requiring explanation during the reporting period of the company. 35Chongqing Changan Automobile Co. Ltd. 2026 Semi-Annual Report XV. Important matters of the Company's subsidiary □Applicable √ Not Applicable 36Chongqing Changan Automobile Co. Ltd. 2026 Semi-Annual Report Chapter 6 Share Changes and Shareholder Information I. Changes in Share Capital 1. Changes in shareholding structure Unit: Shares Prior to this change Net increase or decrease in this change (+ -) Following this modification Conversi Issui on of ng Stock providen Quantity Ratio new divide Others Subtotal Quantity Ratio t fund shar nd into es shares I. Shares with Restricted Conditions 5263872 0.05% -994417 -994417 4269455 0.04% 1. State-owned legal entity shareholding 2. Other domestic shareholdings 5263872 0.05% -994417 -994417 4269455 0.04% Among them: shares held by domestic legal entities.Shareholding by domestic 52638720.05%-994417-9944170.04% natural persons 4269455 3. Foreign equity holdings Among them: shareholding by foreign legal entities.Shareholding by natural persons residing outside the territory.II. Shares with No Lock-up 99.95%-186095-18609599.96% Restrictions 9908822188 9908636093 1. RMB ordinary shares 8267207411 83.40% -186095 -186095 8267021316 83.40% 2. Foreign shares listed 16.56%16.56% domestically 1641614777 1641614777 III. Total Number of Shares 9914086060 100.00% -1180512 -1180512 9912905548 100.00% Reasons for changes in shareholding √ Applicable □ Not Applicable (1) Partial repurchase and cancellation of restricted shares of certain A-share listed companies. The company completed the repurchase and cancellation of 1161948 restricted shares and 18564 restricted shares respectively 37Chongqing Changan Automobile Co. Ltd. 2026 Semi-Annual Report which had been granted to certain original incentive recipients but were not yet eligible for unlocking on January 15 2026 and June 12 2026 respectively reducing the company's total share capital from 9914086060 shares to 9912905548 shares. (2) Other causes of changes The company's shares without lock-up restrictions. Other changes were caused by fluctuations in shares held by senior executives subject to trading restrictions.Approval status of share changes √ Applicable □ Not Applicable The matters regarding the repurchase and cancellation of restricted A-share stocks were approved by the Company's 9th Board of Directors at its 45th meeting on September 26 2025 the 1st Extraordinary General Meeting of Shareholders in 2025 the 9th Board of Directors at its 54th meeting on October 24 2025 and the 2nd Extraordinary General Meeting of Shareholders in 2026 on February 28 2026 and March 19 2026.Transfer details regarding changes in shareholding.√ Applicable □ Not Applicable For details please refer to Chapter 6 I Item 1 "Changes in shareholdings ".Progress on the implementation of share repurchase √ Applicable □ Not Applicable As of the end of the reporting period the Company repurchased 146762341 shares of its own stock through its dedicated securities account for share repurchases via centralized bidding transactions representing 1.48052% of the Company's total share capital at that time with a total amount paid of RMB 812001538.43 (excluding transaction fees converted at the mid-exchange rate of 1 HKD to 0.86855 RMB as of June 30 2026); the specific details are as follows: Repurchased 66392392 A-shares representing 0.66976% of the company's current total share capital. Among them the highest transaction price was 10.32 RMB per share the lowest transaction price was 6.84 RMB per share and the total transaction amount was 561419716.04 RMB (excluding transaction fees).Repurchased 80369949 B-shares representing 0.81076% of the company's current total share capital. Among these the highest transaction price was HKD 4.03 per share the lowest was HKD 3.16 per share and the total transaction amount was HKD 288505926.42 (excluding transaction fees) equivalent to RMB 250581822.39 (converted at the mid-rate of 1:0.86855 between the Hong Kong dollar and the Renminbi on June 30 2026).Implementation progress regarding the reduction of repurchased shares through centralized bidding.□Applicable √ Not Applicable The impact of changes in share capital on financial indicators such as basic and diluted earnings per share for the most recent year and the most recent reporting period as well as net assets per share attributable to ordinary shareholders of the company.√ Applicable □ Not Applicable The changes in share capital have no significant impact on financial indicators such as basic and diluted earnings per share for the most recent year and the most recent period as well as net assets per share attributable to ordinary shareholders of the company.Other matters that the company deems necessary to disclose or that are required to be disclosed by securities regulatory authorities.□Applicable √ Not Applicable 2. Changes in Restricted Shares √ Applicable □ Not Applicable 38Chongqing Changan Automobile Co. Ltd. 2026 Semi-Annual Report Unit: Shares Number of This issue shares increases Number of Initial Reasons for released the restricted shares Shareholder Name restricted the trading Unlock date from number of at the end of the share count restriction.lock-up in restricted academic term.this period. shares.Repurchase and 1. On January 15 2026 1161948 restricted A-share restricted shares were cancelled. 1180512 1180512 0 0 cancellation of stock 2. On June 12 2026 18564 restricted restricted shares were cancelled.stock Locked-in shares held by Release the lock according to the relevant Other shareholders 4083360 0 186095 senior regulations. 4269455 executives Total 5263872 1180512 186095 4269455 -- -- II. Securities Issuance and Listing Status □Applicable √ Not Applicable III. Shareholding and shareholders of the company Unit: Shares Total number of ordinary Total number of preferred shareholders with shareholders as of the end of the 598984 restored voting rights as of the end of the reporting 0 reporting period period (if applicable) Shareholding status of ordinary shareholders holding 5% or more of the total shares or the top 10 ordinary shareholders (excluding shares lent out through the securities lending and borrowing mechanism).Number of Pledge marking or Number of Number of Changes shares held freezing status shares held at ordinary shares Nature of Shareholding during the subject to Shareholder Name the end of the held without Shareholders ratio reporting restricted reporting lock-up Share period trading Quantity period restrictions. status conditions Chenzhi Automotive Technology State-owned 17.99% 1783090143 0 0 1783090143 Group Co. Ltd. legal person China Changan Automobile State-owned 14.23% 1410747155 0 0 1410747155 Not Group Co. Ltd. legal person applicable.Southern Industry Asset State-owned 4.60% 456253257 0 0 456253257 Management Co. Ltd. legal person 39Chongqing Changan Automobile Co. Ltd. 2026 Semi-Annual Report United Prosperity Investment Co. Foreign legal 2.88% 285405718 2530841 0 285405718 Ltd. person Hong Kong Securities Clearing Co. Foreign legal 0.96% 95044686 -3751272 0 95044686 Ltd. person China Reform Investment State-owned 0.48% 47390600 0 0 47390600 Holdings Limited legal person China Merchants Securities Foreign legal 0.30% 29715732 -1931006 0 29715732 (Hong Kong) Limited person Vanguard Total International Foreign legal 0.21%205981990020598199 Stock Index Fund person Vanguard Emerging Markets Foreign legal 0.19% 18818331 0 0 18818331 Stock Index Fund person NORGES BANK Foreign legal 0.17% 17044920 0 0 17044920 person Among the top ten shareholders China Changan Automobile Group Co. Ltd. the indirect controlling shareholder its wholly-owned subsidiary Chenzhi Automotive Technology Group Co. Ltd. and Explanation of the aforementioned shareholder Chenzhi Automotive Technology Group Co. Ltd.'s wholly-owned subsidiary Zhonghui Futong relationships or concerted actions.Investment Co. Ltd. constitute acting-in-concert parties as stipulated in the "Administrative Measures for the Acquisition of Listed Companies." Explanation regarding the aforementioned shareholders' involvement in entrusted or None entrusted voting rights and the waiver of voting rights.As of June 30 2026 the Company held 146762341 shares of its own stock through its dedicated Special Note Regarding the Repurchase Special securities account for share repurchases representing 1.48052% of the Company's total share capital at Account Among the Top Ten Shareholders that time. In accordance with relevant regulations the special account for share repurchase is not included in the table listing the top ten shareholders and this is hereby explained.The top 10 with no lock-up conditions. Shareholding status of shareholders (excluding shares lent via securities lending and refinancing and shares locked for senior executives) Number of unrestricted shares Types of Shares Shareholder Name held at the end of the reporting period. Types of Shares Quantity Chenzhi Automotive Technology Group Co. Ltd. 1783090143 RMB ordinary shares 1783090143 China Changan Automobile Group Co. Ltd. 1410747155 RMB ordinary shares 1410747155 Southern Industry Asset Management Co. Ltd. 456253257 RMB ordinary shares 456253257 United Prosperity Investment Co. Ltd. 285405718 Domestic-listed foreign 285405718 shares Hong Kong Securities Clearing Co. Ltd. 95044686 Domestic-listed foreign 95044686 shares China Reform Investment Holdings Limited 47390600 RMB ordinary shares 47390600 China Merchants Securities (Hong Kong) Limited 29715732 Domestic-listed foreign 29715732 40Chongqing Changan Automobile Co. Ltd. 2026 Semi-Annual Report shares Vanguard Total International Stock Index Fund Domestic-listed foreign 2059819920598199 shares Vanguard Emerging Markets Stock Index Fund Domestic-listed foreign 1881833118818331 shares NORGES BANK 17044920 Domestic-listed foreign 17044920 shares Explanation of the relationships or concerted Among the top ten shareholders China Changan Automobile Group Co. Ltd. the indirect controlling actions among the top ten shareholders of shareholder its wholly-owned subsidiary Chenzhi Automotive Technology Group Co. Ltd. and ordinary shares without tradable restrictions as Chenzhi Automotive Technology Group Co. Ltd.'s wholly-owned subsidiary Zhonghui Futong well as between the top ten shareholders of Investment Co. Ltd. constitute acting-in-concert parties as stipulated in the "Administrative Measures ordinary shares without tradable restrictions and for the Takeover of Listed Companies." the top ten shareholders of ordinary shares.Description of the Margin Trading and Short Selling Business Participation by the Top 10 None Ordinary Shareholders (if applicable) Status of shares lent by shareholders holding more than 5% the top 10 shareholders and the top 10 shareholders of tradable non-restricted shares participating in the securities lending business via the securities financing transaction platform.□ Applicable √ Not Applicable Changes in the top 10 shareholders and the top 10 shareholders of tradable shares without lock-up restrictions occurred due to securities lending and borrowing transactions under the securities financing mechanism.□ Applicable √ Not Applicable The top ten ordinary shareholders and the top ten shareholders with unrestricted tradable shares of the company. Did common shareholders engage in agreed repurchase transactions during the reporting period □ Yes √ No No agreed repurchase transactions were conducted by the top ten ordinary shareholders or the top ten ordinary shareholders with unrestricted tradable shares during the reporting period.IV. Changes in Shareholdings by Directors and Senior Management Personnel □Applicable √ Not Applicable There were no changes in the shareholding of the company's directors and senior management personnel during the reporting period; for details please refer to the 2025Annual Report.V. Changes in the Controlling Shareholder or Actual Controller Change in the controlling shareholder during the reporting period.□ Applicable √ Not Applicable During the reporting period there was no change in the controlling shareholder of the company.Change in the actual controller during the reporting period. 41Chongqing Changan Automobile Co. Ltd. 2026 Semi-Annual Report □ Applicable √ Not Applicable The actual controller of the Company has not changed during the reporting period.VI. Relevant Information on Preferred Shares □Applicable √ Not Applicable During the reporting period the Company had no outstanding preferred shares. 42Chongqing Changan Automobile Co. Ltd. 2026 Semi-Annual Report Chapter 7 Bonds √ Applicable □ Not Applicable I. Corporate Bonds □Applicable √ Not Applicable During the reporting period the company did not issue any corporate bonds.II. Corporate Bonds √ Applicable □ Not Applicable 1. Basic Information on Corporate Bonds Unit: 10000 RMB Tradi Principal and Bond Short Release Value Maturity Bond Interes ng Bond Name Bond Code interest repayment Name date date date balance t rate venu method e Chongqing Simple interest is Changan calculated annually Automobile without Co. Ltd. compounding. 2022 Public Interest is paid Shen Offering of annually the zhen Decemb Decemb Decemb Technology 22 Changan principal is repaid in Stoc 148147.SZ er 19 er 20 er 20 100000 3.00% Innovation K1 a lump sum at k 202220222027 Corporate maturity and the Exch Bonds for final interest ange Professional payment is made Investors concurrently with (First the principal Tranche) repayment.The issuance target for this bond is professional institutional investors who have opened A-share securities accounts at the Shenzhen Branch of China Securities Investor suitability arrangements (if any) Depository and Clearing Limited Company except for those prohibited by laws and regulations from purchasing.Applicable trading mechanisms Auction trading and block trading Is there a risk of termination of listing (if applicable) and what are the corresponding Does not exist.mitigation measures Overdue bonds that have not been repaid □ Applicable √ Not Applicable 43Chongqing Changan Automobile Co. Ltd. 2026 Semi-Annual Report 2. Triggering and implementation status of issuer or investor option clauses and investor protection clauses. □Applicable √ Not Applicable 3. Adjustments to credit rating results during the reporting period □Applicable √ Not Applicable 4. Execution and changes in the implementation of guarantee arrangements debt repayment plans and other debt repayment safeguard measures during the reporting period and their impact on the rights and interests of bond investors.□Applicable √ Not Applicable III. Debt Financing Instruments of Non-Financial Enterprises □Applicable √ Not Applicable During the reporting period the Company held no debt financing instruments for non-financial enterprises.IV. Convertible Corporate Bonds □Applicable √ Not Applicable During the reporting period the Company had no outstanding convertible corporate bonds.V. Losses of Scope of Consolidated Financial Statements during the Reporting Period Exceeding 10% of Net Assets up the Period-end of Last Year □Applicable √ Not Applicable VI. The Major Accounting Data and the Financial Indicators of the Recent 2 Years of the Company up the Period-end Unit: 10000 RMB The increase or decrease at At the end of the reporting the end of this reporting Item At the end of last year.period. period compared to the end of the previous year.Current ratio 1.22 1.21 0.83% Debt-to-Asset Ratio 57.54% 59.61% -2.07% Quick Ratio 0.97 1 -3.00% Increase or decrease compared to the same period This reporting period The same period last year of the previous reporting period 44Chongqing Changan Automobile Co. Ltd. 2026 Semi-Annual Report Net profit after deducting non-recurring gains and 25082.67 279502.53 -91.03% losses EBITDA-to-total-debt ratio 3.35% 8.41% -5.06% Interest Coverage Ratio 6.00 13.65 -56.04% Cash Interest Coverage Ratio -208.79 17.22 -1312.49% EBITDA interest coverage 66.09-30.76% ratio 95.45 Loan repayment rate 100% 100% 0.00% Interest Coverage Ratio 100% 100% 0.00% 45Chongqing Changan Automobile Co. Ltd. 2026 Semi-Annual Report Chapter 8 Financial Report I. Audit Report The company's semi-annual financial report is unaudited.II. Financial Statements The unit of measurement for the financial statements in the notes to the financial statements is: Renminbi RMB. 1. Consolidated Balance Sheet Prepared by: Chongqing Changan Automobile Co. Ltd.Unit: RMB Item Closing balance Opening balance Current Assets: Cash and cash equivalents 39651834716.85 54021735265.29 Trading financial assets 128326557.59 Notes Receivable 26032074330.21 32997945089.19 Accounts Receivable 7500132576.25 4196844647.15 Prepayments 929391725.42 492287143.77 Other receivables 967587420.26 882272960.21 Among them: dividends receivable Inventory 23115384353.37 22518286370.64 Contract assets 158686119.07 155271537.07 Non-current assets due within one year 2859599105.37 1490708211.34 Other current assets 12426166046.14 11797921098.67 Total current assets 113769182950.53 128553272323.33 Non-current assets: Long-term receivables 1274106334.49 1274106334.49 Long-term equity investment 20549846834.08 20426682382.90 Other equity instrument investment 692201858.72 692201858.72 Investment real estate 5629224.58 5742580.36 Fixed assets 22310782207.86 22048786066.87 Construction in progress 1214566887.41 1028734574.34 Right-of-use assets 345883003.44 396605258.85 Intangible assets 18403256505.13 17225098767.53 Development expenditure 2408629711.58 3395674763.46 Goodwill 1996118322.34 1810730443.16 Long-term deferred expenses 20729162.51 16720940.28 Deferred income tax assets 3559109474.51 3495470770.57 46Chongqing Changan Automobile Co. Ltd. 2026 Semi-Annual Report Other non-current assets 1138665712.78 2591246110.90 Total non-current assets 73919525239.43 74407800852.43 Total assets 187688708189.96 202961073175.76 Current liabilities: Short-term borrowing 43728914.90 512275913.93 Notes payable 37614691461.41 43979523780.79 Accounts payable 23676006045.62 29841076563.69 Advance receipts 44780244.06 408273.22 Contractual liabilities 8418775954.69 6908609058.22 Payroll payable 1955579723.67 4237501344.56 Taxes payable 480436909.31 852993806.83 Other payables 7271787112.04 5871006412.33 Including: Dividend payable 1138608888.49 Non-current liabilities due within one 688522019.68698694814.67 year Other current liabilities 12808605313.64 13157375543.64 Total current liabilities 93002913699.02 106059465511.88 Non-current liabilities: Long-term loan 41502388.14 Bonds payable 999852830.16 999803773.56 Lease liabilities 219290767.20 299147228.72 Long-term payables 2620385614.31 2544487345.21 Long-term payroll payable 21810146.42 24579373.29 Estimated liabilities 8369508011.26 8144754556.93 Deferred income 84966336.67 80699392.58 Deferred income tax liabilities 1553732159.83 1570443322.44 Other non-current liabilities 1076573398.85 1252965662.48 Total non-current liabilities 14987621652.84 14916880655.21 Total liabilities 107990535351.86 120976346167.09 Owner's equity: Share capital 9912905548.00 9914086060.00 Capital reserve 8645661085.12 8980708730.02 Less: Treasury shares 790291729.28 3395829.33 Other comprehensive income -26821579.31 -134796483.22 Special reserve 156427005.85 119363825.70 Surplus reserve 4957043030.00 4957043030.00 Undistributed profit 53181955148.21 53503168524.85 Total owner's equity attributable to parent 76036878508.59 77336177858.02 company Minority equity 3661294329.51 4648549150.65 Total owner's equity 79698172838.10 81984727008.67 Total liabilities and owner's equity 187688708189.96 202961073175.76 Legal Representative: Zhu Huarong; Person in Charge of Accounting Work: Ni Erke; Head of Accounting Institution: Shi Haifeng 47Chongqing Changan Automobile Co. Ltd. 2026 Semi-Annual Report 2. Consolidated Balance Sheet of the Parent Company Unit: RMB Item Closing balance Opening balance Current Assets: Cash and cash equivalents 16221324982.45 22301967575.49 Trading financial assets Notes Receivable 20254048407.55 19585803950.63 Accounts Receivable 25858605045.27 24203175774.47 Prepayments 645887985.31 381073238.75 Other receivables 253436165.07 222763091.21 Among them: dividends receivable Inventory 5253669446.24 5834632966.42 Contract assets 29039566.00 28582638.00 Non-current assets due within one year 2859599105.37 1490708211.34 Other current assets 7013535603.11 6412278554.97 Total current assets 78389146306.37 80460986001.28 Non-current assets: Long-term receivables 1274106334.49 1274106334.49 Long-term equity investment 30957929145.65 30801868924.42 Investments in other equity 585201858.72585201858.72 instruments Fixed assets 15009821384.31 15251029495.02 Construction in progress 879748324.66 739741390.10 Right-of-use asset 86816466.75 121256863.93 Intangible assets 7080779463.37 5196957745.98 Development expenditures 1696158605.09 2846370021.29 Long-term deferred expenses 6238106.14 5435297.36 Deferred tax assets 2515762878.79 2521424194.39 Other non-current assets 1138497708.34 2591246110.90 Total non-current assets 61231060276.31 61934638236.60 Total Assets 139620206582.68 142395624237.88 Current liabilities: Notes Payable 25310476975.68 26871167837.85 Accounts Payable 15922655292.62 18505916072.53 Contract liabilities 5387212966.15 2892961630.35 Employee benefits payable 1078195385.59 2547750272.34 Taxes payable 125190668.23 271516738.31 Other payables 4151878201.45 3854891164.38 Among them: dividends payable 1138608888.49 Non-current liabilities due within one 594475384.34630648070.10 year Other current liabilities 7783403747.63 7635677878.38 48Chongqing Changan Automobile Co. Ltd. 2026 Semi-Annual Report Total Current Liabilities 60353488621.69 63210529664.24 Non-current liabilities: Long-term borrowings 41502388.14 Bonds payable 999852830.16 999803773.56 Lease liabilities 17339676.09 76396101.49 Long-term payables 1671940225.22 1611384584.07 Long-term payroll payable 14486236.35 16956000.00 Estimated liabilities 4479452756.39 4328997725.36 Deferred income 50000000.00 50000000.00 Deferred income tax liabilities 439720215.25 492134238.59 Other non-current liabilities 833423087.32 1019414105.50 Total non-current liabilities 8547717414.92 8595086528.57 Total liabilities 68901206036.61 71805616192.81 Owner's equity: Share capital 9912905548.00 9914086060.00 Capital reserve 6947741893.07 6949972483.48 Debit: Treasury Stock 790291729.28 3395829.33 Other Comprehensive Income 158816051.27 158816051.27 Special reserves 85639548.86 65367525.26 Surplus reserve 4957043030.00 4957043030.00 Undistributed profits 49447146204.15 48548118724.39 Total Owners' Equity 70719000546.07 70590008045.07 Total Liabilities and Owners' Equity 139620206582.68 142395624237.88 3. Consolidated Income Statement Unit: RMB Item First half of 2026 First half of 2025 I. Total Operating Revenue 65634329742.16 72691310387.08 Less: Operating cost 56117100062.15 62093645283.41 Taxes and Surcharges 1066853006.30 1668033001.81 Selling expenses 3860975148.50 4361492467.23 Administrative expenses 1633507400.67 2228013321.96 R&D expenses 3154733904.46 3283657283.48 Financial expenses 69130695.55 -1956937280.34 Among them: interest expenses. 54665257.01 38065837.11 Interest income 256185892.36 657365732.49 Add: Other Income 668609055.54 1006136643.63 Investment income (losses to be filled in with a "—" sign) 188984988.77 115023949.01 Among which: investment income from associates and -89741790.2755363593.69 joint ventures.Gain (loss) on changes in fair value (to be filled in with a 40410445.136513157.75 "—" sign) 49Chongqing Changan Automobile Co. Ltd. 2026 Semi-Annual Report Credit impairment losses (losses to be filled in with a "—") 7009303.76 -3271416.06 Impairment loss on assets (losses to be filled in with a "—" -463135760.68-49093178.82 sign) Gain (loss) on disposal of assets (to be filled in with a dash) 75172176.38 17005465.70 II. Operating Profit (Loss to be indicated with a "—") 249079733.43 2105720930.74 Add: Non-operating income. 45557329.01 90081260.28 Less: Non-operating expenses 35733896.93 26831412.99 III. Total Profit (Total Loss shall be filled in with a "—" sign) 258903165.51 2168970778.03 Less: Income tax expense 78188897.89 376316886.76 IV. Net profit (net loss shall be indicated with a "—" sign) 180714267.62 1792653891.27 (I) Classification by Operational Continuity 1. Net profit from continuing operations (net loss shall be 180714267.621792653891.27 indicated with a "—") 2. Net profit (or net loss indicated by a dash) from discontinued operations.(II) Classification by Ownership Attribution 1. Net profit attributable to shareholders of the parent company 817395511.852291211254.67 (net loss shall be indicated with a "—") 2. Profit or loss attributable to non-controlling interests (net loss -636681244.23-498557363.40 shall be indicated with a "—") V. Net other comprehensive income after tax 107974903.91 -76680556.34 Net other comprehensive income attributable to owners of the -76680556.34 107974903.91 parent company after tax Other comprehensive income that shall not be reclassified to -2386300.06 profit or loss 1. Remeasure the changes in the defined benefit plan. Other comprehensive income that cannot be reclassified to -2386300.06 profit or loss under the equity method. 3. Changes in fair value of other equity instrument investments 4. Fair value changes due to the enterprise's own credit risk 5. Others (II) Other comprehensive income to be reclassified to profit or 107974903.91-74294256.28 loss Other comprehensive income that may be reclassified to 997343.14 -17971991.02 profit or loss under the equity method. 2. Fair value changes of other debt investments The amount of financial asset reclassification recognized in other comprehensive income. 4. Credit impairment provision for other debt investments 5. Cash flow hedge reserve 6. Exchange differences arising from the translation of -75291599.42 125946894.93 foreign currency financial statements 7. Others Net amount of other comprehensive income attributable to non-controlling interests after tax VI. Total Comprehensive Income 288689171.53 1715973334.93 Total comprehensive income attributable to owners of the parent 2214530698.33 925370415.76 company 50Chongqing Changan Automobile Co. Ltd. 2026 Semi-Annual Report Total comprehensive income attributable to non-controlling -498557363.40 -636681244.23 interests 7. Earnings per share: (I) Basic Earnings Per Share 0.08 0.23 (II) Diluted Earnings Per Share 0.08 0.23 Legal Representative: Zhu Huarong; Person in Charge of Accounting Work: Ni Erke; Head of Accounting Institution: Shi Haifeng 4. Consolidated Statement of Profit or Loss of the Parent Company Unit: RMB Item First half of 2026 First half of 2025 I. Operating Revenue 44137067957.70 49992247432.42 Less: Operating cost 39264261495.20 44625789120.71 Taxes and Surcharges 499451917.99 866341628.05 Selling expenses 1230713505.36 1690914310.74 Administrative expenses 957853531.03 1387752217.18 R&D expenses 1694684891.15 1999015349.48 Financial expenses -135199698.88 -422841778.36 Among them: interest expenses 36673822.21 25210363.07 Interest income 177090758.73 452426187.70 Add: Other Income 314489732.11 824860792.31 Investment income (losses to be filled in with a "—" sign) 1129217803.14 476704368.84 Among which: investment income from associates and -164640970.8223105164.21 joint ventures.Gain (loss) on changes in fair value (to be filled in with a 6513157.75 "—" sign) Credit impairment losses (losses to be filled in with a -394385.83-2587503.79 "—" sign) Impairment loss on assets (losses to be filled in with a -89132191.20-42206783.01 "—" sign) Gain (loss) on disposal of assets (to be filled in with a -6428272.619872828.04 "—" sign) II. Operating Profit (Loss to be indicated with a "—" sign) 1973055001.46 1118433444.76 Add: Non-operating income. 22327492.47 51980901.09 Less: Non-operating expenses 4486386.32 14545459.64 III. Total Profit (Total Loss shall be indicated with a "—") 1990896107.61 1155868886.21 Less: Income tax expense -46740260.64 68810215.77 IV. Net profit (net loss shall be indicated with a "—" sign) 2037636368.25 1087058670.44 (I) Net profit from continuing operations (net loss to be filled 2037636368.251087058670.44 in with a "—") (II) Net profit (or net loss indicated by a dash) from discontinued operations V. Net other comprehensive income after tax -2894301.11 VI. Total Comprehensive Income 2037636368.25 1084164369.33 51Chongqing Changan Automobile Co. Ltd. 2026 Semi-Annual Report 5. Consolidated Statement of Cash Flows Unit: RMB Item First half of 2026 First half of 2025 I. Cash flows from operating activities: Cash received from the sale of goods and provision of services 76905950617.48 83637749837.86 Rebates of taxes and surcharges received 2162275633.98 1940550767.15 Cash received from other operating activities 1147910471.30 1844260721.48 Total cash inflows from operating activities 80216136722.76 87422561326.49 Cash paid for the purchase of goods and acceptance of services 72401966814.52 78918787742.28 Cash paid to and on behalf of employees 7931445022.97 6106774683.42 Various taxes and fees paid 3849409177.87 4503099289.23 Cash payments for other items related to operating activities 7446767975.77 6501096401.83 Business operations Total cash outflows 91629588991.13 96029758116.76 Net cash flow from operating activities -11413452268.37 -8607196790.27 II. Cash flows from investing activities: Cash received from the recovery of investments 8107808.95 340000.00 Cash received from investment income 18172110.38 42307638.70 Net cash proceeds from the disposal of fixed assets intangible 402980259.89596996689.13 assets and other long-term assets.Cash received from other investing activities 1674861861.52 50975988.18 Total cash inflows from investing activities 2104122040.74 690620316.01 Cash paid for the acquisition construction and improvement of 2111957700.52 2093637403.55 fixed assets intangible assets and other long-term assets.Cash paid for investments 324969968.24 1604723740.46 Cash paid for other investing activities 1825771500.00 Total cash outflows from investing activities 4244378871.79 3716681440.98 Net cash flow from investing activities -2140256831.05 -3026061124.97 III. Cash flows from financing activities: Cash received from investments 40000000.00 62000000.00 Cash proceeds from borrowings 73205688.14 41439662.00 Cash received from other financing activities 322309837.79 280715982.94 Total cash inflows from financing activities 435515525.93 384155644.94 Cash paid for repayment of debt 536000000.00 66000000.00 Cash paid for dividends profits or interest payments 10984772.50 7840786.59 Cash paid for other financing activities 820636309.25 53170214.12 Total cash outflows from financing activities 1367621081.75 127011000.71 Net cash flow from financing activities -932105555.82 257144644.23 IV. Impact of Exchange Rate Fluctuations on Cash and Cash 287726733.50 -28486901.68 Equivalents V. Net increase in cash and cash equivalents -14514301556.92 -11088386537.51 Add: Beginning balance of cash and cash equivalents. 52993171152.75 63274376513.00 52Chongqing Changan Automobile Co. Ltd. 2026 Semi-Annual Report VI. Ending Balance of Cash and Cash Equivalents 38478869595.83 52185989975.49 6. Cash flow statement Unit: RMB Item First half of 2026 First half of 2025 I. Cash flows from operating activities: Cash received from the sale of goods and provision of services 45237628634.57 52673723414.17 Rebates of taxes and surcharges received 175362.93 80464734.28 Cash received from other operating activities 553483072.44 968553469.71 Total cash inflows from operating activities 45791287069.94 53722741618.16 Cash paid for the purchase of goods and acceptance of services 40228610231.86 51269802561.93 Cash paid to and on behalf of employees 4744764993.77 3612840778.60 Various taxes and fees paid 1647890020.68 1504405933.42 Cash payments for other items related to operating activities 4019851582.05 4907709472.80 Business operations Total cash outflows 50641116828.36 61294758746.75 Net cash flow from operating activities -4849829758.42 -7572017128.59 II. Cash flows from investing activities: Cash received from the recovery of investments 8107808.95 Cash received from investment income 1203727910.38 418072106.70 Net cash proceeds from the disposal of fixed assets intangible assets 133389149.72154051790.41 and other long-term assets.Cash received from other investing activities Total cash inflows from investing activities 1345224869.05 572123897.11 Cash paid for the acquisition of fixed assets intangible assets and 1424349904.431214891938.38 other long-term assets Cash paid for investments 327000001.00 1890723740.46 Cash paid for other investing activities Total cash outflows from investing activities 1751349905.43 3105615678.84 Net cash flow from investing activities -406125036.38 -2533491781.73 3. Cash flows from financing activities: Cash received from investments Cash proceeds from borrowings 41502388.14 Cash received from other financing activities Total cash inflows from financing activities 41502388.14 Cash paid for repayment of debt 36000000.00 36000000.00 Cash paid for dividends profits or interest payments 10091181.14 7357000.00 Cash paid for other financing activities 816171547.45 33309556.36 Total cash outflows from financing activities 862262728.59 76666556.36 Net cash flow from financing activities -820760340.45 -76666556.36 IV. Impact of Exchange Rate Fluctuations on Cash and Cash Equivalents 2423550.04 V. Net increase in cash and cash equivalents -6074291585.21 -10182175466.68 53Chongqing Changan Automobile Co. Ltd. 2026 Semi-Annual Report Add: Beginning balance of cash and cash equivalents. 22291778931.83 34681359143.17 VI. Balance of Cash and Cash Equivalents at the End of the Period 16217487346.62 24499183676.49 54Chongqing Changan Automobile Co. Ltd. 2026 Semi-Annual Report 7. Consolidated Statement of Changes in Equity Amount for this period Unit: RMB First half of 2026 Equity attributable to owners of the parent company Item Other Non-controlling Debit: Treasury interest Total Owners' EquityShare capital Capital Reserve Comprehensive Special reserves Surplus reserve Undistributed profits Stock Income I. Balance at the end of the previous 9914086060.008980708730.023395829.33-134796483.22119363825.704957043030.0053503168524.854648549150.6581984727008.67 year II. Opening balance for the current year 9914086060.00 8980708730.02 3395829.33 -134796483.22 119363825.70 4957043030.00 53503168524.85 4648549150.65 81984727008.67 III. Amount of increase or decrease in current period(Decrease is indicated -1180512.00 -335047644.90 786895899.95 107974903.91 37063180.15 -321213376.64 -987254821.14 -2286554170.57 with "-") (I) Total comprehensive income 107974903.91 817395511.85 -636681244.23 288689171.53 (II) Capital invested and reduced by -1180512.00-335047644.90786895899.95-365178955.13-1488303011.98 owners 1. Common shares invested by owners 40000000.00 40000000.00 2. Amount of share-based payment -2230590.41-2230590.41 included in owner's equity 3. Other -1180512.00 -332817054.49 786895899.95 -405178955.13 -1526072421.57 (III) Profit Distribution -1138608888.49 -1138608888.49 1. Distributions to owners (or -1138608888.49-1138608888.49 shareholders) (IV) Internal transfers within owners' equity (5) Special Reserves 37063180.15 14605378.22 51668558.37 1. Current period extraction 54912184.73 16029783.42 70941968.15 2. Usage for this period. -17849004.58 -1424405.20 -19273409.78 (VI) Others.IV. Ending Balance for the Current 9912905548.008645661085.12790291729.28-26821579.31156427005.854957043030.0053181955148.213661294329.5179698172838.10 Period 55Chongqing Changan Automobile Co. Ltd. 2026 Semi-Annual Report Previous year's amount Unit: RMB First half of 2025 Equity attributable to owners of the parent company Item Non-controlling Other comprehensive Total owner's equity Share capital Capital reserve Less: Treasury shares Special reserve Surplus reserve Undistributed profit interests income I. Closing balance of previous year 9914086060.00 8925798850.14 169261662.73 7523358.77 95013488.38 4957043030.00 52846021500.43 2504374617.11 79080599242.10 II. Balance at the beginning of the 9914086060.008925798850.14169261662.737523358.7795013488.384957043030.0052846021500.432504374617.1179080599242.10 current year III. Amount of increase or decrease in current period(Decrease is indicated with 30568843.52 -112935815.55 -76680556.34 30729494.34 -631353698.15 -431719070.68 -965519171.76 "-") (I) Total comprehensive income -76680556.34 2291211254.67 -498557363.40 1715973334.93 (II) Capital invested and reduced by 30568843.52-112935815.5562000000.00205504659.07 owners 1. Common shares invested by owners 62000000.00 62000000.00 2. Amount of share-based payment 15696797.33-112935815.55128632612.88 included in owner's equity 3. Other 14872046.19 14872046.19 (III) Profit distribution -2922564952.82 -2922564952.82 1. Distribution to owners (or -2922564952.82-2922564952.82 shareholders) (IV) Internal carry-forward of owner's equity (V) Special reserve 30729494.34 4838292.72 35567787.06 1. Current withdrawal 58903145.28 7514745.10 66417890.38 2. Used in this period -28173650.94 -2676452.38 -30850103.32 (VI) Others IV. Ending Balance for the Current 9914086060.008956367693.6656325847.18-69157197.57125742982.724957043030.0052214667802.282072655546.4378115080070.34 Period 56Chongqing Changan Automobile Co. Ltd. 2026 Semi-Annual Report 8. Statement of Changes in Equity Attributable to the Parent Company Amount for this period Unit: RMB First half of 2026 Other Item Debit: Treasury Share capital Capital Reserve Comprehensive Special reserves Surplus reserve Undistributed profits Total Owners' Equity Stock Income I. Balance at the end of the previous 9914086060.006949972483.483395829.33158816051.2765367525.264957043030.0048548118724.3970590008045.07 year II. Opening balance for the current 9914086060.006949972483.483395829.33158816051.2765367525.264957043030.0048548118724.3970590008045.07 year III. Amounts of Changes in the Current Period (Decreases shall be -1180512.00 -2230590.41 786895899.95 899027479.76 128992501.00 indicated with a "—" sign) (I) Total comprehensive income 2037636368.25 2037636368.25 (II) Capital contributed by owners and -1180512.00-2230590.41786895899.95-790307002.36 capital reductions The amount of share-based payment -2230590.41-2230590.41 recognized in owners' equity. 2. Others -1180512.00 786895899.95 -788076411.95 (III) Profit Distribution -1138608888.49 -1138608888.49 1. Distributions to owners (or -1138608888.49-1138608888.49 shareholders) (IV) Internal transfers within owners' equity (5) Special Reserves 20272023.60 20272023.60 1. Current withdrawal 31580750.76 31580750.76 2. Used in this period -11308727.16 -11308727.16 (VI) Other IV. Closing balance of the current 9912905548.006947741893.07790291729.28158816051.2785639548.864957043030.0049447146204.1570719000546.07 period 57Chongqing Changan Automobile Co. Ltd. 2026 Semi-Annual Report Amount of last year Unit: RMB Semi-annual 2025 Other Item Share capital Capital reserve Less: Treasury shares comprehensive Special reserve Surplus reserve Undistributed profit Total owner's equity income I. Closing balance of previous year 9914086060.00 8353032903.95 169261662.73 162659055.80 44805848.15 4957043030.00 47158746846.13 70421112081.30 II. Balance at the beginning of the 9914086060.008353032903.95169261662.73162659055.8044805848.154957043030.0047158746846.1370421112081.30 current year III. Amount of increase or decrease in current period(Decrease is indicated 30568843.52 -112935815.55 -2894301.11 18660348.93 -1835506282.38 -1676235575.49 with "-") (I) Total comprehensive income -2894301.11 1087058670.44 1084164369.33 (II) Capital invested and reduced by 30568843.52-112935815.55143504659.07 owners 1. Amount of share-based payment 15696797.33-112935815.55128632612.88 included in owner's equity 2. Other 14872046.19 14872046.19 (III) Profit distribution -2922564952.82 -2922564952.82 1. Distribution to owners (or -2922564952.82-2922564952.82 shareholders) (IV) Internal transfers within owners' equity (5) Special Reserves 18660348.93 18660348.93 1. This period's extraction. 33871629.18 33871629.18 2. Usage for this period. -15211280.25 -15211280.25 (VI) Others IV. Ending Balance for the Current 9914086060.008383601747.4756325847.18159764754.6963466197.084957043030.0045323240563.7568744876505.81 Period 58Chongqing Changan Automobile Co. Ltd. 2026 Semi-Annual Report III. Basic Company Information Chongqing Changan Automobile Co. Ltd. (hereinafter referred to as the "Company" or "our Company") is a joint-stock company registered in Chongqing in October 1996. It was listed on the Shenzhen Stock Exchange in June 1997. As of June 30 2026 the Company's total issued share capital amounted to 9912905548 shares. Registered Address: No. 260 Xinjian East Road Jiangbei District Chongqing China; Office Address: No. 61 Dongshengmen Road Jiangbei District Chongqing China Financial City No. 2 Building T2.The Company's principal actual business activities include the manufacturing and sales of automobiles (including sedans) automobile engine series products and supporting components.The Company's parent company is Chenzhi Automotive Technology Group Co. Ltd. and its ultimate controlling party is China Changan Automobile Group Co. Ltd.IV. Basis for Preparation of Financial Statements 1.Preparation Basis These financial statements have been prepared in accordance with the Basic Standard of Enterprise Accounting Standards and various specific accounting standards application guidelines for enterprise accounting standards interpretations of enterprise accounting standards and other relevant regulations promulgated by the Ministry of Finance (hereinafter collectively referred to as "Enterprise Accounting Standards") as well as the relevant provisions of Rule No. 15 of the "Reporting Rules for Information Disclosure of Companies Offering Securities to the Public" issued by the China Securities Regulatory Commission. 2.Going concern These financial statements have been prepared on a going concern basis.V. Significant Accounting Policies andAccounting Estimates 1. Statement on Compliance with Enterprise Accounting Standards This set of financial statements has been prepared in compliance with the requirements of the Accounting Standards for Enterprises promulgated by the Ministry of Finance of the People's Republic of China and truly and completely reflects the consolidated and parent company financial position of the Company as of June 30 2026 as well as the consolidated and parent company operating results and cash flows for the period from January 1 to June 30 2026. 2. Accounting period The fiscal year runs from January 1 to December 31 of the Gregorian calendar. 3. Operating cycle The company's operating cycle is 12 months. 4. Functional currency The functional currency of the Company and the currency used in the preparation of these financial statements are both the Renminbi. Unless otherwise specified all amounts are expressed in Renminbi (RMB) RMB. The subsidiaries joint ventures and associates of the Company determine their functional currencies based on the primary economic environments in which they operate and their financial statements are translated into RMB when preparing consolidated financial reports. 59Chongqing Changan Automobile Co. Ltd. 2026 Semi-Annual Report 5. Accounting treatment methods for business combinations under common control and those not under common control.Business combinations under common control: Assets and liabilities acquired by the combining party in the business combination (including goodwill arising from the acquisition of the combined party by the ultimate controlling party) are measured based on the carrying amounts of the combined party's assets and liabilities in the consolidated financial statements of the ultimate controlling party as of the combination date. The difference between the book value of net assets acquired in the merger and the book value of the merger consideration paid (or the total par value of shares issued) shall be adjusted against the share premium in capital reserve; if the share premium in capital reserve is insufficient to offset the difference the retained earnings shall be adjusted.Business combinations not under common control: The cost of combination is the fair value of assets paid liabilities incurred or assumed and equity securities issued by the acquirer on the acquisition date to obtain control over the acquiree. The excess of the cost of the combination over the acquirer's share of the fair value of the acquiree's identifiable net assets is recognized as goodwill; the excess of the acquirer's share of the fair value of the acquiree's identifiable net assets over the cost of the combination is recognized in profit or loss for the current period. In a business combination the identifiable assets liabilities and contingent liabilities of the acquiree that meet the recognition criteria are measured at fair value on the acquisition date.Directly attributable costs incurred for a business combination are recognized in profit or loss in the period in which they are incurred; transaction costs incurred for issuing equity or debt securities for a business combination are included in the initial carrying amount of the equity or debt securities. 6. Criteria for determining control and the method for preparing consolidated financial statements (1) Criteria for judging control The scope of consolidation for the consolidated financial statements is determined based on control and includes the Company and all of its subsidiaries. Control refers to the situation where an entity has power over an investee is exposed or has rights to variable returns from its involvement with the investee and has the ability to use its power over the investee to affect the amount of the entity's returns. (2) Merge program The Company regards the entire corporate group as a single accounting entity and prepares consolidated financial statements in accordance with uniform accounting policies to reflect the group's overall financial position results of operations and cash flows. The effects of intragroup transactions between the Company and its subsidiaries and among the subsidiaries themselves are eliminated. In the event that internal transactions indicate an impairment loss on the relevant assets the full amount of such loss shall be recognized. If the accounting policies or accounting periods adopted by a subsidiary differ from those of the Company necessary adjustments shall be made to align them with the Company's accounting policies and accounting periods when preparing the consolidated financial statements.The share of the subsidiary's equity current net profit or loss and current total comprehensive income attributable to non-controlling interests are presented separately under the equity Chapter of the consolidated balance sheet under the net profit line item of the consolidated income statement and under the total comprehensive income line item respectively. The current period loss borne by the non-controlling interests of a subsidiary that exceeds the non-controlling interests' share of the subsidiary's opening equity is offset against the non-controlling interests. (1) Increase the number of subsidiaries or business units. During the reporting period for subsidiaries or businesses acquired through business combinations under common control their operating results and cash flows from the beginning of the period of consolidation to the end of the reporting 60Chongqing Changan Automobile Co. Ltd. 2026 Semi-Annual Report period are included in the consolidated financial statements and the opening balances of the consolidated financial statements and relevant items in the comparative statements are adjusted accordingly as if the consolidated reporting entity had existed since the date when the ultimate controlling party obtained control.Where control over an investee under common control is achieved due to additional investments or other reasons the recognized gains or losses other comprehensive income and other changes in net assets related to equity interests held prior to obtaining control over the combined party from the later of the date of the original equity acquisition or the date when the combining party and the combined party came under common control up to the date of the combination shall be offset against the opening retained earnings for the comparative reporting period or current period profit or loss respectively.During the reporting period for subsidiaries or businesses acquired through business combinations not under common control the fair values of all identifiable assets liabilities and contingent liabilities determined as of the acquisition date shall serve as the basis. Included in the consolidated financial statements from the date of acquisition.Where control over an investee not under common control is achieved due to additional investment or other reasons the equity interest in the acquiree held prior to the acquisition date shall be remeasured at its fair value on the acquisition date and the difference between the fair value and its carrying amount shall be recognized as investment income for the current period. Other comprehensive income previously recognized under the equity method that is subsequently reclassifiable to profit or loss as well as other changes in equity accounted for under the equity method related to the equity interest in the acquiree held prior to the acquisition date shall be reclassified to investment income for the current period to which the acquisition date belongs. (2) Disposal of subsidiaries * General processing methods When control over an investee is lost due to the disposal of a portion of equity interests or other reasons the remaining equity interest in the investee after the disposal shall be remeasured at its fair value on the date control is lost. The difference between the sum of the consideration received for the disposal of equity interests and the fair value of the remaining equity interests and the sum of the share of the net assets of the original subsidiary calculated continuously from the acquisition date or the date of combination based on the original shareholding ratio and goodwill shall be recognized as investment income in the current period when control is lost. Other comprehensive income that is subsequently reclassified into profit or loss related to equity investments in existing subsidiaries as well as other changes in owners' equity accounted for under the equity method are reclassified to current investment income upon loss of control.* Step-by-step disposal of subsidiaries When an investment in a subsidiary is disposed of in stages through multiple transactions until control is lost the terms conditions and economic implications of the various transactions regarding the disposal of the investment in the subsidiary typically indicate that such multiple transactions constitute a single package arrangement if they meet one or more of the following circumstances: i. These transactions were concluded simultaneously or with due regard to their mutual interdependence.II. Only when these transactions are integrated can a complete commercial outcome be achieved; ⅲ. The occurrence of a transaction depends on the occurrence of at least one other transaction.IV. A transaction is uneconomical when considered in isolation but becomes economical when evaluated in conjunction with other transactions.Where multiple transactions constitute a single package they shall be accounted 61Chongqing Changan Automobile Co. Ltd. 2026 Semi-Annual Report for as a single transaction involving the disposal of a subsidiary and the loss of control; prior to the loss of control any difference between the disposal proceeds for each transaction and the corresponding share of the net assets of the subsidiary shall be recognized as other comprehensive income in the consolidated financial statements and transferred to profit or loss in the period when control is lost.If the transactions do not constitute a package deal the equity investment in the subsidiary shall be accounted for prior to the loss of control in accordance with the method for partial disposal of an equity investment in a subsidiary without loss of control and upon the loss of control it shall be accounted for in accordance with the general method for disposal of a subsidiary. (3) Acquisition of minority equity interests in a subsidiary. The difference between the long-term equity investment newly acquired through the purchase of a minority interest and the share of the net assets of the subsidiary calculated based on the incremental shareholding percentage which has been continuously calculated from the acquisition date or the merger date shall be used to adjust the share premium in the capital reserve in the consolidated balance sheet; if the share premium in the capital reserve is insufficient to offset the difference the retained earnings shall be adjusted accordingly. (4) Partial disposal of equity investment in a subsidiary without loss of control The difference between the disposal proceeds and the share of the net assets of the subsidiary calculated continuously from the acquisition date or the date of combination that corresponds to the long-term equity investment disposed of shall be used to adjust the share premium within capital reserve in the consolidated balance sheet; if the share premium within capital reserve is insufficient to offset the difference retained earnings shall be adjusted. 7. Criteria for the determination of cash and cash equivalents. Cash refers to the company's cash on hand and demand deposits that are available for immediate payment. Cash equivalents refer to investments held by the Company that are short-term highly liquid readily convertible to known amounts of cash and subject to an insignificant risk of changes in value. 8. Foreign currency transactions and translation of foreign currency financial statements (1) Foreign currency transactions Foreign currency transactions are recorded in RMB by translating the foreign currency amounts using the spot exchange rate prevailing on the transaction date.At the balance sheet date the balances of foreign currency monetary items are translated at the spot exchange rate prevailing on that date and the resulting exchange differences except for those arising from foreign currency borrowings specifically related to the acquisition or construction of qualifying assets that are capitalized in accordance with the principles for capitalization of borrowing costs are recognized in profit or loss for the current period. (2) Translation of Foreign Currency Financial Statements Assets and liabilities in the balance sheet are translated using the spot exchange rate on the balance sheet date while equity items except for "retained earnings" are translated using the spot exchange rate at the time of occurrence. Revenue and expense items in the income statement are translated using the spot exchange rate on the date of the transaction.Upon disposal of a foreign operation the exchange differences arising from the translation of the foreign entity's financial statements which are included in other comprehensive income under equity shall be reclassified from equity to profit or loss for the current period. 9. Financial instruments The Company recognizes a financial asset a financial liability or an equity instrument when it becomes a party to the provisions of a financial instrument contract. (1) Classification of financial instruments 62Chongqing Changan Automobile Co. Ltd. 2026 Semi-Annual Report Based on the Company's business model for managing financial assets and the contractual cash flow characteristics of the financial assets financial assets are classified at initial recognition as financial assets measured at amortized cost financial assets measured at fair value through other comprehensive income and financial assets measured at fair value through profit or loss.The Company shall classify financial assets as measured at amortized cost only if they meet both of the following conditions and are not designated as financial assets at fair value through profit or loss: The business model is to hold contractual cash flows.The contractual cash flows are solely payments of principal and interest on the principal amount outstanding.The Company shall classify financial assets as financial assets measured at fair value through other comprehensive income (debt instruments) if they meet both of the following conditions and are not designated as financial assets measured at fair value through profit or loss: The business model is to hold the financial asset in order to collect contractual cash flows and to sell the financial asset.The contractual cash flows are solely payments of principal and interest on the principal amount outstanding.For equity instrument investments that are not held for trading the Company may irrevocably designate them at initial recognition as financial assets measured at fair value through other comprehensive income (equity instruments). This designation shall be made on an instrument-by-instrument basis and the relevant investments must meet the definition of an equity instrument from the issuer's perspective.Except for financial assets measured at amortized cost and those measured at fair value through other comprehensive income the Company classifies all remaining financial assets as financial assets measured at fair value through profit or loss.Financial liabilities are classified at initial recognition as either financial liabilities at fair value through profit or loss or financial liabilities measured at amortized cost. (2) Basis for recognition and measurement methods of financial instruments Financial assets measured at amortized cost Financial assets measured at amortized cost include notes receivable accounts receivable other receivables long-term receivables and debt investments which are initially recognized at fair value with related transaction costs included in the initial carrying amount; however accounts receivable that do not contain a significant financing component as well as those for which the Company has decided not to consider a financing component of one year or less are initially recognized at the transaction price specified in the contract.Interest calculated using the effective interest method during the holding period is recognized in the current period's profit or loss.Upon recovery or disposal the difference between the proceeds received and the carrying amount of the financial asset shall be recognized in the current period's profit or loss. (2) Financial assets measured at fair value with changes recognized in other comprehensive income (debt instruments) Financial assets measured at fair value through other comprehensive income (debt instruments) including receivables financing and other debt investments are initially recognized at fair value with related transaction costs included in the initial carrying amount. Subsequent measurement of the financial asset is performed at fair value with changes in fair value recognized in other comprehensive income except for interest calculated using the effective interest method impairment losses or gains and exchange differences. 63Chongqing Changan Automobile Co. Ltd. 2026 Semi-Annual Report Upon derecognition the cumulative gain or loss previously recognized in other comprehensive income is reclassified from other comprehensive income to profit or loss for the current period. (3) Financial assets measured at fair value with changes recognized in other comprehensive income (equity instruments) Financial assets measured at fair value through other comprehensive income (equity instruments) including investments in other equity instruments are initially recognized at fair value with related transaction costs included in the initial carrying amount. The financial asset is subsequently measured at fair value with changes in fair value recognized in other comprehensive income. Dividends received are recognized in the current period's profit or loss.Upon derecognition the cumulative gain or loss previously recognized in other comprehensive income is reclassified from other comprehensive income to retained earnings.Financial assets measured at fair value with changes recognized in profit or loss.Financial assets measured at fair value through profit or loss include trading financial assets derivative financial assets and other non-current financial assets which are initially recognized at fair value with related transaction expenses charged to profit or loss for the current period. The financial asset is subsequently measured at fair value with changes in fair value recognized in the current period's profit or loss. (5) Financial liabilities measured at fair value with changes recognized in profit or loss Financial liabilities measured at fair value through profit or loss include trading financial liabilities and derivative financial liabilities which are initially recognized at fair value with related transaction expenses charged to profit or loss in the current period. Such financial liabilities are subsequently measured at fair value with changes in fair value recognized in profit or loss for the current period.Upon derecognition the difference between its carrying amount and the consideration paid is recognized in profit or loss for the current period. (6) Financial liabilities measured at amortized cost Financial liabilities measured at amortized cost include short-term borrowings notes payable accounts payable other payables long-term borrowings bonds payable and long-term payables which are initially recognized at fair value with related transaction costs included in the initial carrying amount.Interest calculated using the effective interest method during the holding period is recognized in the current period's profit or loss.Upon derecognition the difference between the consideration paid and the carrying amount of the financial liability shall be recognized in profit or loss for the current period. (3) Basis for derecognition of financial assets and recognition of transfers of financial assets along with their measurement methods.The Company derecognizes a financial asset when one of the following conditions is met: The contractual right to collect cash flows from a financial asset has terminated; The financial asset has been transferred and substantially all risks and rewards incidental to ownership of the financial asset have been transferred to the transferee.The financial asset has been transferred; although the Company has neither transferred nor retained substantially all the risks and rewards of ownership of the financial asset it has not retained control over the financial asset. 64Chongqing Changan Automobile Co. Ltd. 2026 Semi-Annual Report If the Company modifies or renegotiates a contract with the counterparty and such modification constitutes a substantial modification the original financial asset shall be derecognized and a new financial asset shall be recognized in accordance with the modified terms.When a financial asset is transferred if the transferor retains substantially all the risks and rewards incidental to the ownership of the financial asset the financial asset shall not be derecognized.When assessing whether the transfer of financial assets meets the aforementioned derecognition criteria for financial assets the principle of substance over form is applied.The company classifies transfers of financial assets into full transfers and partial transfers. When the transfer of a financial asset in its entirety meets the conditions for derecognition the difference between the following two amounts shall be recognized in profit or loss for the current period: (1) The carrying amount of the financial assets transferred. (2) The sum of the consideration received due to the transfer and the cumulative amount of fair value changes originally recognized directly in equity (applicable when the transferred financial asset is a debt instrument measured at fair value through other comprehensive income).When a partial transfer of a financial asset meets the criteria for derecognition the carrying amount of the entire transferred financial asset shall be allocated between the portion derecognized and the portion retained based on their relative fair values and the difference between the following two amounts shall be recognized in profit or loss for the current period: (1) The carrying amount of the derecognized portion; (2) The sum of the consideration for the derecognized portion and the amount corresponding to the derecognized portion within the cumulative amount of fair value changes originally recognized directly in equity applicable when the transferred financial asset is a debt instrument measured at fair value through other comprehensive income.If the transfer of financial assets does not meet the conditions for derecognition the financial assets shall continue to be recognized and the consideration received shall be recognized as a financial liability. (4) Derecognition of financial liabilities A financial liability or a part thereof shall be derecognized when its present obligation has been discharged in whole or in part except when cash settlement is made using an electronic payment system.When a financial liability (or a part thereof) is settled in cash through an electronic payment system the Company shall derecognize it only when the payment instruction has been initiated and the following conditions are simultaneously met: 1. The Company lacks the actual capability to recall stop or cancel payment instructions. 2. The Company lacks the actual capability to draw down the cash designated for settlement pursuant to payment instructions; Settlement risks associated with electronic payment systems are not material.If the Company enters into an agreement with creditors to replace an existing financial liability with a new financial liability and the contractual terms of the new financial liability are substantially different from those of the existing financial liability the existing financial liability shall be derecognized and the new financial liability shall be recognized simultaneously.If substantive modifications are made to all or part of the contractual terms of an existing financial liability the existing financial liability or a portion thereof shall be derecognized and the financial liability with the modified terms shall be 65Chongqing Changan Automobile Co. Ltd. 2026 Semi-Annual Report recognized as a new financial liability.When a financial liability is derecognized in whole or in part the difference between the carrying amount of the derecognized financial liability and the consideration paid (including non-cash assets transferred or new financial liabilities assumed) is recognized in profit or loss for the current period.If the Company repurchases a portion of a financial liability on the repurchase date it allocates the carrying amount of the entire financial liability between the portion that continues to be recognized and the portion that is derecognized based on their relative fair values. The difference between the carrying amount allocated to the derecognized portion and the consideration paid (including non-cash assets transferred or new financial liabilities assumed) is recognized in profit or loss for the current period. (5) Methodology for determining the fair value of financial assets and financial liabilities.Financial instruments with an active market shall have their fair value determined based on quoted prices in that active market. For financial instruments lacking an active market valuation techniques are employed to determine their fair value. In valuation the Company employs valuation techniques that are appropriate under the circumstances and supported by sufficient available data and other information selects input values consistent with the characteristics of the assets or liabilities considered by market participants in transactions for the relevant assets or liabilities and prioritizes the use of relevant observable inputs. Unobservable inputs shall be used only when relevant observable inputs are not available or obtaining them is not practicable. (6) Testing methodologies and accounting treatment methods for impairment of financial instruments.The Company applies impairment accounting based on expected credit losses to financial assets measured at amortized cost financial assets measured at fair value through other comprehensive income (debt instruments) and financial guarantee contracts.The Company considers reasonable and supportable information regarding past events current conditions and forecasts of future economic conditions to calculate the probability-weighted amount of the present value of the difference between the contractual cash flows due and the expected cash flows to be received weighted by the risk of default thereby recognizing expected credit losses.For receivables and contract assets arising from transactions governed by Accounting Standards for Business Enterprises No. 14 — Revenue the Company consistently measures the allowance for expected credit losses at an amount equivalent to the lifetime expected credit losses regardless of whether a significant financing component exists.For lease receivables arising from transactions governed by Accounting Standards for Business Enterprises No. 21 — Leases the Company has elected to consistently measure the allowance for expected credit losses at an amount equivalent to the lifetime expected credit losses.For other financial instruments the Company assesses changes in the credit risk of the relevant financial instruments since initial recognition at each reporting date.The Company determines the relative change in the probability of default of a financial instrument over its expected life by comparing the risk of default occurring on the reporting date with the risk of default occurring on the initial recognition date in order to assess whether the credit risk of the financial instrument has increased significantly since initial recognition. Generally the Company considers that the credit risk of a financial instrument has increased significantly if it is more than 30 days past due unless there is convincing evidence to the contrary that the credit risk of the financial instrument has not increased 66Chongqing Changan Automobile Co. Ltd. 2026 Semi-Annual Report significantly since initial recognition.The Company considers that the credit risk of a financial instrument has not increased significantly since initial recognition if the financial instrument has low credit risk at the reporting date.If the credit risk of a financial instrument has increased significantly since initial recognition the Company measures the loss allowance at an amount equal to the lifetime expected credit losses; if the credit risk has not increased significantly since initial recognition the Company measures the loss allowance at an amount equal to the expected credit losses over the next 12 months. The increase or reversal of the provision for losses thus formed shall be recognized as an impairment loss or gain in the current period's profit or loss. For financial assets measured at fair value through other comprehensive income (debt instruments) the allowance for credit losses is recognized in other comprehensive income while impairment losses or gains are recognized in profit or loss without reducing the carrying amount of the financial asset presented in the balance sheet. 10. Inventory (1) Classification and Cost of Inventory Inventory is classified into: goods in transit raw materials consumable tools and spare parts finished goods work-in-process goods dispatched and materials entrusted for processing among others.Inventories are initially measured at cost which comprises purchase costs conversion costs and other costs incurred to bring the inventories to their present location and condition. (2) Inventory stocktaking system Adopt the perpetual inventory system. (3) Amortization methods for low-value consumables and packaging materials. (1) Low-value consumables are expensed in full upon issuance using the one-time write-off method. (2) Packaging materials are expensed in full upon their first use. (4) Recognition criteria and accrual methods for inventory provision for decline in value At the balance sheet date inventories shall be measured at the lower of cost and net realizable value. When the cost of inventory exceeds its net realizable value an allowance for inventory obsolescence shall be recognized. Net realizable value refers to the estimated selling price of inventory in the ordinary course of business less the estimated costs to complete and the estimated costs of sale and related taxes.Finished goods merchandise held for sale and raw materials intended for sale are inventory items held directly for sale; their net realizable value is determined by deducting estimated selling expenses and related taxes from the estimated selling price in the ordinary course of business; for inventory items that require further processing the net realizable value is determined by deducting the estimated costs to complete estimated selling expenses and related taxes from the estimated selling price of the finished goods to be produced in the ordinary course of business; for inventory held to fulfill sales or service contracts the net realizable value is calculated based on the contract price and if the quantity of inventory held exceeds the quantity ordered under the sales contract the net realizable value of the excess portion is calculated based on the general selling price.After the provision for inventory decline in value has been accrued if the factors that previously caused the reduction in inventory value have disappeared resulting in the net realizable value of the inventory exceeding its carrying amount the provision shall be reversed within the amount originally accrued and the amount of the reversal shall be recognized in the current period's profit or loss. 67Chongqing Changan Automobile Co. Ltd. 2026 Semi-Annual Report 11. Contract assets (1) Recognition methods and criteria for contract assets. The Company presents contract assets or contract liabilities on the balance sheet based on the relationship between the fulfillment of performance obligations and customer payments. Contract assets are presented for the right to consideration to which the Company is entitled in exchange for transferring goods or providing services to customers where such right is conditional on factors other than the passage of time. Contract assets and contract liabilities under the same contract shall be presented on a net basis. The entity's unconditional right (dependent solely on the passage of time) to receive consideration from customers is presented separately as a receivable. (2) Determination methods for expected credit losses on contract assets and related accounting treatment methods.The methodology for determining the expected credit losses on contract assets and the corresponding accounting treatment are detailed in Note V(9)6 "Testing Methodology and Accounting Treatment for Financial Instrument Impairment." 12. Held for sale and discontinued operations (1) Held for sale An item of non-current asset or a disposal group is classified as held for sale if its carrying amount is recovered principally through a sale transaction rather than through continuing use which includes non-monetary asset exchanges that have commercial substance.The Company classifies non-current assets or disposal groups as held for sale only when they meet all of the following conditions: (1) It is available for immediate sale in its current condition in accordance with the customary practices for selling such assets or disposal groups in similar transactions; (2) Highly probable sale meaning the Company has approved a disposal plan and obtained a firm purchase commitment with the disposal expected to be completed within one year. Where applicable regulations require approval from the Company's relevant competent authorities or regulatory bodies prior to sale such approval has already been obtained.Non-current assets (excluding financial assets deferred tax assets and assets arising from employee benefits) or disposal groups classified as held for sale shall have their carrying amounts reduced to the fair value less costs to sell if the carrying amount exceeds that amount; the reduction shall be recognized as an impairment loss in profit or loss for the current period and a provision for impairment of assets held for sale shall be established simultaneously. 13. Long-term equity investment (1) Criteria for determining joint control and significant influence. Joint control refers to the shared control over an arrangement pursuant to contractual agreements whereby decisions regarding the relevant activities of the arrangement require the unanimous consent of the parties sharing control. The investee is classified as a joint venture of the Company when the Company together with other joint operators exercises joint control over the investee and holds rights to the net assets of the investee.Significant influence refers to the power to participate in the financial and operating policy decisions of an investee without having control or joint control over those policies. The investee is classified as an associate of the Company when the Company is able to exercise significant influence over it. (2) Determination of the initial investment cost Long-term equity investments arising from business combinations.For long-term equity investments in subsidiaries formed through business combinations under common control the initial investment cost shall be 68Chongqing Changan Automobile Co. Ltd. 2026 Semi-Annual Report determined on the combination date as the investor's share of the carrying amount of the acquiree's net assets in the consolidated financial statements of the ultimate controlling party. The difference between the initial investment cost of long-term equity investments and the book value of the consideration paid shall be adjusted against the share premium in capital reserve; if the share premium in capital reserve is insufficient to offset the difference the retained earnings shall be adjusted. Where control over an investee under common control is achieved due to additional investments or other reasons the difference between the initial investment cost of the long-term equity investment recognized in accordance with the aforementioned principles and the sum of the carrying amount of the long-term equity investment held prior to the combination and the carrying amount of the additional consideration paid for the shares acquired on the combination date shall be adjusted against capital reserve; if the capital reserve is insufficient to absorb the adjustment the deficit shall be charged against retained earnings.For long-term equity investments in subsidiaries formed through business combinations not under common control the initial investment cost shall be determined based on the acquisition cost ascertained on the acquisition date. If control over an investee that is not under common control can be achieved through additional investments or other reasons the initial investment cost shall be determined as the sum of the carrying amount of the originally held equity investment and the cost of the newly added investment. (2) Long-term equity investments acquired by means other than business combinations.Long-term equity investments acquired through cash payment shall have their initial investment cost measured at the actual purchase price paid.Long-term equity investments acquired by issuing equity securities shall be initially measured at the fair value of the equity securities issued. (3) Subsequent measurement and methods for recognizing gains and losses. Long-term equity investments accounted for using the cost method.Long-term equity investments in subsidiaries are accounted for using the cost method unless the investment meets the criteria for classification as held for sale.Except for cash dividends or profits declared but not yet distributed included in the actual consideration paid at the time of investment the Company recognizes current investment income based on the cash dividends or profits declared by the investee that it is entitled to receive.Long-term equity investments accounted for using the equity method.Long-term equity investments in associates and joint ventures are accounted for using the equity method. When the initial investment cost exceeds the investor's share of the fair value of the investee's identifiable net assets at the time of investment the difference shall not adjust the initial investment cost of the long-term equity investment; conversely when the initial investment cost is less than the investor's share of the fair value of the investee's identifiable net assets at the time of investment the difference shall be recognized in current profit or loss and the cost of the long-term equity investment shall be adjusted accordingly.The Company recognizes its share of the net profit or loss and other comprehensive income of the investee which it is entitled to or obligated to share as investment income and other comprehensive income respectively while simultaneously adjusting the carrying amount of the long-term equity investment. The share of profit or cash dividends declared by the investee shall be calculated and recognized with a corresponding reduction in the carrying amount of the long-term equity investment; for other changes in the investee's equity other than net profit or loss other comprehensive income and profit distribution (hereinafter referred to as "other changes in equity") the carrying amount of the long-term equity investment shall be adjusted and the amount shall be recognized in equity.When confirming the share of net profit or loss other comprehensive income and other changes in equity of the investee the share is determined based on the fair 69Chongqing Changan Automobile Co. Ltd. 2026 Semi-Annual Report value of the investee's identifiable net assets at the date of acquisition with adjustments made to the investee's net profit and other comprehensive income in accordance with the company's accounting policies and accounting periods.Unrealized internal transaction gains or losses between the Company and its associates or joint ventures are eliminated based on the Company's share of such amounts to recognize investment income except where the assets contributed or sold constitute a business. Unrealized internal transaction losses incurred with investees that constitute asset impairment losses shall be recognized in full.Regarding net losses incurred by joint ventures or associates the Company's share is limited to the carrying amount of the long-term equity investment and other long-term interests that in substance constitute the net investment in the joint venture or associate reduced to zero unless the Company has an obligation to assume additional losses. When a joint venture or an associate subsequently generates net profit the Company shall resume recognizing its share of profit after offsetting the share of losses that were previously unconfirmed against the amount of profit sharing. (3) Disposal of long-term equity investments Upon disposal of long-term equity investments the difference between the carrying amount and the actual proceeds received shall be recognized in the current period's profit or loss.In the event of a partial disposal of long-term equity investments accounted for under the equity method where the remaining equity interest continues to be accounted for using the equity method the other comprehensive income previously recognized under the equity method shall be transferred on a basis consistent with that used by the investee for the direct disposal of relevant assets or liabilities proportionate to the portion disposed while other changes in equity shall be transferred to current profit or loss on a proportional basis.When joint control or significant influence over an investee is lost due to the disposal of equity investments or other reasons other comprehensive income recognized for the original equity investment under the equity method shall be accounted for at the same basis as the direct disposal of related assets or liabilities by the investee upon discontinuation of the equity method and all other changes in owners' equity shall be transferred to current profit or loss upon discontinuation of the equity method.When control over an investee is lost due to the disposal of a portion of equity investments or similar reasons and the remaining equity interest is capable of exercising joint control or significant influence over the investee the remaining interest shall be accounted for using the equity method with retrospective adjustment as if the equity method had been applied since the date of acquisition; other comprehensive income recognized prior to obtaining control shall be reclassified on the same basis as if the investee had directly disposed of the related assets or liabilities proportionally and other changes in equity recognized under the equity method shall be reclassified proportionally to current profit or loss; if the remaining equity interest is incapable of exercising joint control or significant influence it shall be classified as a financial asset with the difference between its fair value and carrying amount at the date control was lost recognized in current profit or loss and all other comprehensive income and other changes in equity recognized prior to obtaining control shall be fully reclassified.Where a subsidiary's equity investment is disposed of in stages through multiple transactions until control is lost and such transactions constitute a package deal they shall be accounted for as a single transaction involving the disposal of the subsidiary's equity investment and the loss of control; prior to the loss of control the difference between the disposal proceeds for each transaction and the corresponding carrying amount of the long-term equity investment disposed of shall in the separate financial statements initially be recognized as other comprehensive income and subsequently transferred to the current period's profit or loss upon the loss of control. Transactions that do not constitute a package deal 70Chongqing Changan Automobile Co. Ltd. 2026 Semi-Annual Report shall be accounted for separately. 14. Investment property Investment property refers to land or buildings held to earn rentals or for capital appreciation or both including land held for leased use land held for capital appreciation and later transferred and buildings held for leased use (including buildings completed from self-construction or development activities for leased use and buildings under construction or development that are intended for leased use in the future).Subsequent expenditures related to investment property shall be capitalized into the cost of the investment property if it is probable that future economic benefits associated with the item will flow to the entity and the cost of the item can be measured reliably; otherwise such expenditures shall be recognized as an expense in the period in which they are incurred.The Company measures its existing investment properties using the cost model.Investment properties measured under the cost model specifically buildings held for lease are depreciated using the same policy as the company's fixed assets while land use rights held for lease are amortized in accordance with the policy applied to intangible assets. 15. Fixed assets (1) Recognition and Initial Measurement of Fixed Assets Fixed assets refer to tangible assets held for the purpose of producing goods providing services renting out or for administrative management which have a useful life exceeding one accounting year. Fixed assets are recognized only when the following conditions are simultaneously met: (1) It is probable that the economic benefits associated with the fixed asset will flow into the enterprise; (2) The cost of the fixed asset can be measured reliably. Fixed assets are initially measured at cost taking into account the impact of estimated dismantling and removal costs.Subsequent expenditures related to fixed assets are capitalized into the cost of fixed assets when it is probable that future economic benefits associated with the item will flow to the entity and the cost of the item can be measured reliably; the carrying amount of any replaced part is derecognized; and all other subsequent expenditures are recognized as expenses in the period in which they are incurred. (2) Depreciation methods Depreciation of fixed assets is calculated using the straight-line method by category with the depreciation rate determined based on the asset category estimated useful life and estimated net residual value rate. For fixed assets with impairment provisions recognized depreciation expense in future periods shall be determined based on the carrying amount after deducting the impairment provision and the estimated remaining useful life. If the components of a fixed asset have different useful lives or provide economic benefits to the enterprise in different ways different depreciation rates or depreciation methods shall be selected to calculate depreciation separately.The depreciation methods useful lives residual value rates and annual depreciation rates for various categories of fixed assets are as follows: Category Service Life (Years) Estimated residualvalue rate Annual depreciation rate Houses and buildings 20-35 3% 2.77-4.85% Machinery and equipment 5-20 3% 4.85-19.40% Transportation equipment 4-10 3% 9.70-24.25% Other devices 3-21 3% 4.62-32.33% Note: Depreciation for molds in machinery and equipment is calculated using the 71Chongqing Changan Automobile Co. Ltd. 2026 Semi-Annual Report units-of-production method. (3) Disposal of fixed assets A fixed asset shall be derecognized upon its disposal or when it is expected that no future economic benefits will be derived from its use or disposal. The disposal proceeds from the sale transfer scrapping or damage of fixed assets after deducting their book value and related taxes and fees shall be recognized as current period profit or loss. 16. Construction in progress Construction in progress is measured at the actual costs incurred. Actual costs encompass construction costs installation costs borrowing costs eligible for capitalization and other necessary expenditures incurred prior to bringing the construction in progress to its intended usable condition. Construction in progress is transferred to fixed assets upon reaching the intended usable state and depreciation commences from the following month. 17. Borrowing costs (1) Recognition principles for capitalization of borrowing costs Borrowing costs directly attributable to the acquisition construction or production of qualifying assets shall be capitalized and included in the cost of the relevant assets; other borrowing costs shall be recognized as expenses in the period in which they are incurred and charged to the current period's profit or loss.Assets qualifying for capitalization refer to fixed assets investment properties and inventories among others that require a substantial period of construction or production activities to reach their intended usable or salable condition. (2) Capitalization period of borrowing costs The capitalization period refers to the period from the commencement of capitalization of borrowing costs to the cessation of capitalization excluding any period during which capitalization of borrowing costs is suspended.Borrowing costs shall commence when all of the following conditions are simultaneously met. Capitalization: (1) Capital expenditures have been incurred which include expenditures incurred in the form of cash payments transfers of non-cash assets or assumption of interest-bearing debts for the purpose of constructing or producing assets that qualify for capitalization; (2) Borrowing costs have been incurred; (3) Activities necessary to bring the asset to its intended usable or saleable condition have commenced.Borrowing costs shall cease to be capitalized when the qualifying assets under construction or production reach their intended usable or saleable status. (3) During the period of capitalization suspension Borrowing costs shall be suspended from capitalization for assets that meet the capitalization criteria if an abnormal interruption occurs during their acquisition construction or production and the interruption lasts continuously for more than three months; If the borrowing costs are incurred as a necessary procedure for the acquisition construction or production of a qualifying asset to reach its intended usable or salable condition such borrowing costs shall continue to be capitalized.Borrowing costs incurred during an interruption are recognized as expenses in the current period until the borrowing costs resume capitalization after the acquisition construction or production activities of the asset recommence. (4) Calculation methods for the capitalization rate of borrowing costs and the amount of capitalized costs.For special borrowings incurred specifically for the construction or production of 72Chongqing Changan Automobile Co. Ltd. 2026 Semi-Annual Report qualifying assets the amount of borrowing costs to be capitalized shall be determined by deducting from the actual borrowing costs incurred during the period any interest income earned from depositing the undrawn portion of the borrowing funds in a bank or any investment income earned from temporary investments.For general borrowings utilized in the acquisition or construction of qualifying assets the amount of borrowing costs to be capitalized is determined by multiplying the weighted average of accumulated asset expenditures exceeding the specific borrowings by the capitalization rate applicable to the general borrowings utilized. The capitalization rate is determined based on the weighted average actual interest rate of general borrowings.During the capitalization period exchange differences arising from the principal and interest of foreign currency borrowings specifically for qualifying assets shall be capitalized and included in the cost of those assets. Exchange differences arising from the principal and interest of foreign currency borrowings other than those specifically borrowed for foreign currency purposes shall be recognized in the current period's profit or loss. 18. Intangible assets (1) Valuation methods for intangible assets (1) Upon acquisition intangible assets are initially measured at cost; The cost of purchased intangible assets includes the purchase price related taxes and fees and other expenditures directly attributable to bringing the asset to the condition and location necessary for its intended use. (2) Subsequent Measurement Analyze and determine the useful life of intangible assets upon their acquisition.Intangible assets with finite useful lives are amortized over the period during which they are expected to generate economic benefits for the enterprise; if the period over which an intangible asset is expected to generate economic benefits cannot be foreseen it is classified as an intangible asset with an indefinite useful life and is not amortized. (2) Estimation of the useful lives of intangible assets with finite useful lives. Item Expected service life Amortization method Land use rights 33-50 years Straight-line method Software usage rights 2 years Straight-line method Trademark usage rights 10 years Straight-line method Non-patented technology 5-11 years Straight-line method Patented technology 10 years Straight-line method (3) Specific criteria for delineating the research phase and the development phase. Expenditures for internal company research and development Items are classified into research phase expenditures and development phase expenditures.Research Phase: The stage involving original planned investigations and research activities conducted to acquire and comprehend new scientific or technological knowledge.Development Phase: The stage involving the application of research findings or other knowledge to a specific plan or design prior to commercial production or use aimed at producing new materials devices products or other items with substantive improvements. (4) Specific conditions for capitalizing development phase expenditures Expenditures incurred during the research phase shall be recognized as expenses in 73Chongqing Changan Automobile Co. Ltd. 2026 Semi-Annual Report the current period when incurred. Expenditures incurred during the development phase shall be recognized as intangible assets only if they satisfy all of the following conditions; otherwise such expenditures shall be charged to the current period's profit or loss. (1) It is technically feasible to complete the intangible asset so that it will be available for use or sale. (2) The intention to complete the intangible asset and use or sell it; (3) The manner in which an intangible asset generates future economic benefits including demonstrating the existence of a market for the products produced using the intangible asset or for the intangible asset itself and if the intangible asset is to be used internally demonstrating its utility. (4) Sufficient technical financial and other resources are available to complete the development of the intangible asset and to use or sell it; (5) Expenditures incurred during the development phase of the intangible asset can be measured reliably.If research phase expenditures and development phase expenditures cannot be distinguished all incurred research and development expenditures shall be recognized as expenses in the current period. 19. Long-term asset impairment Long-term equity investments investment properties measured under the cost model fixed assets construction in progress right-of-use assets and intangible assets with finite useful lives are subject to impairment testing if there are indications of impairment as of the balance sheet date. If the impairment test indicates that the recoverable amount of an asset is lower than its carrying amount an impairment provision shall be accrued for the difference and recognized as an impairment loss. The recoverable amount is the higher of an asset's fair value less costs of disposal and its value in use which is the present value of the estimated future cash flows expected to be derived from the asset. Impairment provisions for assets are calculated and recognized on an individual asset basis; however if it is difficult to estimate the recoverable amount of an individual asset the recoverable amount of the asset group to which the asset belongs shall be determined. A cash-generating unit is the smallest identifiable group of assets that generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.Goodwill arising from business combinations intangible assets with indefinite useful lives and intangible assets not yet available for use shall be tested for impairment at least annually at the end of each fiscal year regardless of whether there is any indication of impairment.The Company conducts impairment tests for goodwill; the carrying amount of goodwill arising from business combinations is allocated to relevant asset groups from the acquisition date using a reasonable method and if it is difficult to allocate to a specific asset group it is allocated to the relevant asset group combination. A relevant asset group or combination of asset groups is an asset group or combination of asset groups that can benefit from the synergies arising from a business combination.When performing impairment tests on asset groups or combinations of asset groups that include goodwill if there are indications of impairment in the asset group or combination of asset groups related to goodwill an impairment test shall first be conducted on the asset group or combination of asset groups excluding goodwill to calculate the recoverable amount compare it with the relevant carrying amount and recognize the corresponding impairment loss. Subsequently an impairment test is performed on the asset group or group of asset groups containing goodwill by comparing its carrying amount with its recoverable amount; if the recoverable amount is lower than the carrying amount the impairment loss is first allocated to reduce the carrying amount of goodwill allocated to the asset group or group of asset groups and then in proportion to the carrying amounts of the other assets within the asset group or group of asset groups excluding goodwill the carrying amounts of those other assets are reduced accordingly.Once recognized the impairment loss on the aforementioned assets shall not be reversed in subsequent accounting periods. 74Chongqing Changan Automobile Co. Ltd. 2026 Semi-Annual Report 20. Long-term deferred expenses Long-term deferred expenses refer to various costs that have been incurred but are to be amortized over a period exceeding one year borne by the current period and subsequent periods. 21. Contract liabilities The Company presents contract assets or contract liabilities on the balance sheet based on the relationship between the fulfillment of performance obligations and customer payments. Contract liabilities are presented as the Company's obligations to transfer goods or provide services to customers in exchange for consideration received or receivable from such customers. Contract assets and contract liabilities under the same contract shall be presented on a net basis. 22. Employee compensation (1) Accounting treatment methods for short-term employee benefits. The Company recognizes short-term compensation as a liability and charges it to current profit or loss or to the cost of relevant assets during the accounting periods in which employees provide services to the Company.The social insurance premiums and housing provident fund contributions paid by the Company for its employees along with the trade union funds and employee education funds accrued in accordance with regulations are determined as corresponding employee compensation amounts for the accounting periods during which employees provide services to the Company calculated based on the prescribed accrual bases and accrual ratios.Employee welfare expenses incurred by the Company are recognized in the current period's profit or loss or in the cost of relevant assets based on the actual amounts incurred at the time of occurrence with non-monetary welfare measured at fair value. (2) Accounting treatment methods for post-employment benefits (1) Defined contribution plan The Company contributes to basic endowment insurance and unemployment insurance for its employees in accordance with relevant regulations of the local government; during the accounting periods in which employees provide services to the Company the amount payable is calculated based on the contribution base and rate prescribed by local regulations recognized as a liability and charged to current period profit or loss or included in the cost of relevant assets. (2) Defined benefit plan The Company attributes the benefit obligations arising from the defined benefit plan to the periods during which employees provide services based on the formula determined by the Itemed unit credit method and recognizes them in the current profit or loss or as part of the cost of relevant assets.The deficit or surplus arising from the present value of the defined benefit obligation less the fair value of the defined benefit plan assets is recognized as a net defined benefit liability or a net defined benefit asset. Where a defined benefit plan has a surplus the Company measures the net asset of the defined benefit plan at the lower of the surplus in the plan and the asset ceiling.All obligations under defined benefit plans including those expected to be settled within twelve months after the end of the annual reporting period in which employee services are rendered are discounted using the market yield at the balance sheet date on government bonds or high-quality corporate bonds in an active market that match the term and currency of the defined benefit plan obligations.Service costs arising from defined benefit plans and the net interest on the net defined benefit liability or asset are recognized in profit or loss or included in the cost of relevant assets; changes resulting from remeasuring the net defined benefit 75Chongqing Changan Automobile Co. Ltd. 2026 Semi-Annual Report liability or asset are recognized in other comprehensive income and shall not be reclassified to profit or loss in subsequent accounting periods and upon termination of the original defined benefit plan the amount previously recognized in other comprehensive income shall be fully transferred within equity to retained earnings.Upon settlement of a defined benefit plan a gain or loss on settlement is recognized based on the difference between the present value of the defined benefit obligation determined at the settlement date and the settlement price. (3) Accounting treatment methods for termination benefits When the Company provides termination benefits to employees it recognizes the liability for employee benefits arising from termination benefits at the earlier of the following dates: when the Company can no longer unilaterally withdraw the termination benefits offered due to a plan to terminate employment relationships or a proposal for workforce reductions; or when the Company recognizes costs or expenses related to a restructuring that involves the payment of termination benefits and such amounts are included in current period profit or loss. 23. Provision for liabilities The Company recognizes a provision for contingent liabilities when the related obligation meets all of the following conditions: (1) This obligation represents a present obligation assumed by the Company; (2) It is probable that fulfilling this obligation will result in an outflow of economic benefits from the Company; (3) The amount of the obligation can be measured reliably. Provisions are initially measured at the best estimate of the expenditure required to settle the present obligation.When determining the best estimate factors such as risks uncertainties and the time value of money related to contingent events are comprehensively considered. For items where the time value of money has a material effect the best estimate is determined by discounting the relevant future cash outflows.When the expenditure required to settle a provision is expected to be reimbursed wholly or partially by a third party the compensation amount is recognized as a separate asset only when it is virtually certain to be received and the recognized compensation amount shall not exceed the carrying amount of the provision.The Company reviews the carrying amount of provisions at the balance sheet date and adjusts the carrying amount to the current best estimate if there is conclusive evidence that the carrying amount no longer reflects the current best estimate. 24. Share-based payment The share-based payment transactions of the Company are transactions in which equity instruments are granted or liabilities are incurred based on equity instruments in exchange for services received from employees or other parties. The Company's share-based payments are classified into equity-settled share-based payments and cash-settled share-based payments. (1) Equity-settled share-based payments and equity instruments Share-based payments settled by equity instruments in exchange for employee services shall be measured at the fair value of the equity instruments granted to employees. For share-based payment transactions that are exercisable immediately upon grant the fair value of the equity instruments is recognized as relevant costs or expenses on the grant date with a corresponding increase in capital reserve. For share-based payment transactions where vesting is contingent upon the completion of service during the vesting period or the achievement of specified performance conditions the Company on each balance sheet date during the vesting period recognizes the services received in the current period as relevant costs or expenses and correspondingly increases capital reserve based on the best estimate of the 76Chongqing Changan Automobile Co. Ltd. 2026 Semi-Annual Report number of equity instruments expected to vest and measured at the fair value as of the grant date.If the terms of an equity-settled share-based payment arrangement are modified at least the services received shall be recognized as if the terms had not been modified.Furthermore any modification that increases the fair value of the equity instruments granted or any change favorable to employees on the modification date shall result in the recognition of an increase in the services obtained.During the vesting period if the granted equity instruments are cancelled the Company shall treat the cancellation as an accelerated vesting event immediately recognizing the amount that would have been recognized over the remaining vesting period in the current period's profit or loss while simultaneously recognizing additional paid-in capital. However if new equity instruments are granted and it is determined on the grant date of the new equity instruments that they are granted in replacement of the cancelled equity instruments the replacement equity instruments shall be accounted for in the same manner as the modification of the terms and conditions of the original equity instruments. (2) Share-based payments settled in cash and equity instruments Share-based payments settled in cash are measured at the fair value of the liability incurred by the Company which is determined based on shares or other equity instruments. For share-based payment transactions that are vested immediately upon grant the Company recognizes the fair value of the liability incurred on the grant date as relevant costs or expenses and correspondingly increases the liability.For share-based payment transactions that require service to be completed within a vesting period or the achievement of specified performance conditions before vesting the Company shall on each balance sheet date during the vesting period recognize the services received in the current period in the relevant costs or expenses and correspondingly in liabilities based on the best estimate of the number of instruments expected to vest and measured at the fair value of the liability assumed by the Company. At each balance sheet date prior to the settlement of the relevant liability and on the settlement date the fair value of the liability is remeasured with any changes recognized in profit or loss for the current period.When the Company modifies the terms and conditions of a cash-settled share-based payment arrangement to convert it into an equity-settled share-based payment arrangement it shall measure the equity-settled share-based payment arrangement at the fair value of the equity instruments granted on the modification date regardless of whether the modification occurs during or after the vesting period; the services received to date shall be recognized in equity (capital reserve) the liability recognized for the cash-settled share-based payment arrangement as of the modification date shall be derecognized and the difference between the two amounts shall be recognized in profit or loss for the current period. If the waiting period is extended or shortened due to modifications the Company shall account for the modification based on the revised waiting period. 25. Income 1、 Accounting policies adopted for the recognition and measurement of revenue. The Company recognizes revenue when it satisfies its performance obligations under the contract which occurs when the customer obtains control of the relevant goods or services. Obtaining control over relevant goods or services refers to the ability to direct the use of such goods or services and obtain substantially all of the remaining economic benefits from them.When a contract includes two or more performance obligations the Company allocates the transaction price to each performance obligation on the contract inception date based on the relative standalone selling prices of the goods or services promised in each performance obligation. The Company recognizes revenue based on the transaction price allocated to each distinct performance 77Chongqing Changan Automobile Co. Ltd. 2026 Semi-Annual Report obligation.Transaction price refers to the amount of consideration to which the Company expects to be entitled in exchange for transferring goods or services to a customer excluding amounts collected on behalf of third parties and amounts expected to be refunded to customers. The Company determines the transaction price based on the contract terms and its past customary practices considering the effects of variable consideration significant financing components non-cash consideration and consideration payable to the customer when establishing the transaction price. The Company determines the transaction price which includes variable consideration as the amount of revenue recognized to date that is highly probable will not result in a significant reversal when the related uncertainties are resolved. Where a contract contains a significant financing component the Company determines the transaction price as the amount of cash that would be payable by the customer at the time the customer obtains control of the goods or services and amortizes the difference between the transaction price and the contract consideration over the contract period using the effective interest method.An entity satisfies a performance obligation over a period of time if any of the following conditions are met; otherwise the performance obligation is satisfied at a point in time: * The customer simultaneously obtains and consumes the economic benefits derived from the Company's performance as the Company performs.* The customer has the ability to control the work-in-progress asset during the company's performance.* The goods produced during the Company's performance of the contract have no alternative use and the Company has an enforceable right to payment for performance completed to date throughout the entire contract period.For performance obligations satisfied over time the Company recognizes revenue over that period based on the progress of performance except where the progress cannot be reasonably determined. The Company determines the progress of performance obligations using the output method or the input method considering the nature of the goods or services. When the progress of fulfillment cannot be reasonably determined if the costs incurred are expected to be recoverable the Company recognizes revenue equal to the amount of costs incurred until the progress of fulfillment can be reasonably determined.For performance obligations satisfied at a point in time the Company recognizes revenue when the customer obtains control of the relevant goods or services. In determining whether a customer has obtained control of goods or services the Company considers the following indicators: * The Company has a present right to consideration for the goods or services meaning the customer has a present obligation to pay for the goods or services.* The Company has transferred the legal title of the product to the customer meaning the customer now holds the legal title to the product.* The Company has transferred physical possession of the product to the customer meaning the customer now has physical control of the product.* The Company has transferred the significant risks and rewards of ownership of the goods to the customer meaning that the customer has obtained the significant risks and rewards of ownership of the goods.* The customer has accepted the goods or services.The Company determines whether it acts as a principal or an agent in a transaction based on whether it controls the specified good or service before that good or service is transferred to the customer. The Company is the principal and recognizes revenue based on the total amount of consideration received or receivable if it controls the goods or services before transferring them to the customer; otherwise the Company is an agent and recognizes revenue based on the amount of commission or fees it expects to be entitled to receive. 78Chongqing Changan Automobile Co. Ltd. 2026 Semi-Annual Report 2、 Disclose the specific revenue recognition methods and measurement approaches according to business type.The Company recognizes revenue when it satisfies its performance obligations under the contract which occurs when the customer obtains control of the relevant goods or services. Obtaining control over relevant goods or services refers to the ability to direct the use of such goods or the provision of such services and to obtain substantially all of the remaining economic benefits therefrom. (1) Sales contract for goods Sales contracts between the Company and its customers typically include performance obligations such as the transfer of goods. The Company typically recognizes revenue at the point in time when each performance obligation is satisfied based on a comprehensive assessment of the following factors: the existence of a present right to payment for the goods the transfer of significant risks and rewards of ownership of the goods the transfer of legal title to the goods the transfer of physical possession of the goods and the customer's acceptance of the goods. (2) Provide a service contract. The performance obligations under service contracts between the Company and its customers are recognized as satisfied over a period of time because the customer simultaneously receives and consumes the economic benefits derived from the Company's performance and the Company has an enforceable right to payment for performance completed to date throughout the contract period; accordingly revenue is recognized based on the progress of performance except where the progress cannot be reasonably determined. The Company determines the progress of performance of service obligations using the output method based on completed or delivered products. When the progress of performance cannot be reasonably determined if the costs incurred by the Company are expected to be recoverable revenue shall be recognized based on the amount of costs incurred until the progress of performance can be reasonably determined. (3) Variable consideration Certain contracts between the Company and its customers include sales rebate arrangements resulting in variable consideration. The Company determines the best estimate of variable consideration based on either the expected value or the most likely amount provided that the transaction price including variable consideration does not exceed the amount for which it is highly probable that a significant reversal of cumulative revenue recognized will not occur when the related uncertainty is resolved. (4) Warranty Obligations In accordance with the contract agreement and applicable laws the Company provides a quality assurance for the products sold. For product warranties that provide a service in addition to assuring customers that the sold products comply with agreed-upon standards the Company treats such service-type warranties as a separate performance obligation allocates a portion of the transaction price to the service-type warranty based on the relative standalone selling prices of the products and the service-type warranty and recognizes revenue when the customer obtains control of the service. When assessing whether a quality assurance provides a separate service to the customer beyond assuring that the products sold comply with agreed-upon specifications the Company considers factors such as whether the quality assurance is legally required the duration of the quality assurance and the nature of the tasks the Company commits to performing. (5) Reward Points Program The Company grants reward points to customers when selling products or providing services which customers can redeem for free or discounted products or services. The rewards points program grants customers a material right which the 79Chongqing Changan Automobile Co. Ltd. 2026 Semi-Annual Report Company accounts for as a separate performance obligation; accordingly a portion of the transaction price is allocated to the rewards points based on the relative standalone selling prices of the goods or services provided and the rewards points and revenue is recognized when the customer obtains control of the goods or services to be redeemed for the points or when the points expire. (6) Principal Responsible Person / Agent Regarding the Company's ability to direct third-party representatives to provide services to customers on its behalf the Company has the autonomy to determine the prices of the goods or services transacted; specifically the Company controls the relevant goods prior to their transfer to customers thereby establishing the Company as the principal and revenue is recognized based on the total amount of consideration received or receivable. Otherwise the Company acts as an agent and recognizes revenue based on the commission or fee amount it expects to be entitled to receive which shall be determined as the net amount after deducting payments to be made to other relevant parties from the total consideration received or receivable or based on the agreed commission amount or percentage. 26. Contract costs Contract costs comprise contract fulfillment costs and contract acquisition costs.Costs incurred by the Company to fulfill a contract that fall outside the scope of relevant accounting standards governing inventories property plant and equipment or intangible assets shall be recognized as an asset as contract fulfillment costs if the following conditions are met: * This cost is directly attributable to a contract that is either current or expected to be obtained.* This cost increases the resources the Company will use to fulfill its performance obligations in the future.* This cost is expected to be recoverable.Incremental costs incurred by the Company to obtain a contract are recognized as an asset as contract acquisition costs if they are expected to be recoverable.Assets related to contract costs are amortized on the same basis as the recognition of revenue for the goods or services associated with such assets; however for contract acquisition costs with an amortization period not exceeding one year the Company recognizes them in current profit or loss when incurred.For assets related to contract costs if their carrying amount exceeds the difference between the following two items the Company shall recognize an impairment provision for the excess amount and confirm it as an asset impairment loss: 1. The remaining consideration expected to be received from the transfer of goods or services related to the asset; 2. The estimated costs expected to be incurred to transfer the related goods or services. If factors that previously caused an impairment change resulting in the aforementioned difference exceeding the asset's carrying amount the Company shall reverse the previously recognized impairment provision and recognize it in current profit or loss provided that the asset's carrying amount after reversal does not exceed the carrying amount that would have been determined had no impairment provision been recognized on the date of reversal. 27. Government subsidies (1) Type Government grants are monetary or non-monetary assets received by the Company from the government without charge classified into grants related to assets and grants related to income.Government grants related to assets refer to those grants received by the Company that are intended for the acquisition construction or other forms of creation of long-term assets. Government grants related to income refer to government grants other than those related to assets. 80Chongqing Changan Automobile Co. Ltd. 2026 Semi-Annual Report (2) Confirmation point Government grants are recognized when the company meets the conditions attached to them and when the grants are receivable. (3) Accounting treatment The Company accounts for government grants using the net method.Government grants related to assets are either deducted from the carrying amount of the relevant assets or recognized as deferred income. Deferred income recognized shall be allocated to current profit or loss in installments over the useful life of the related asset using a reasonable and systematic method; Government grants related to income that compensate for relevant costs expenses or losses to be incurred by the Company in future periods are recognized as deferred income and are included in the current period's profit or loss or offset against relevant costs expenses or losses in the period when the related costs expenses or losses are recognized; government grants that compensate for relevant costs expenses or losses already incurred by the Company are recognized directly in the current period's profit or loss or offset against relevant costs expenses or losses.The interest subsidy on policy-based preferential loans obtained by the Company shall be accounted for separately according to the following two scenarios: (1) When the government allocates interest subsidy funds to the lending bank which then provides loans to the Company at a preferential policy rate the Company shall recognize the loan at the amount actually received and calculate the related borrowing costs based on the loan principal and the preferential policy rate. (2) Where the government directly disburses interest subsidy funds to the Company the Company shall offset the corresponding interest subsidy against the relevant borrowing costs. 28. Deferred tax assets and deferred tax liabilities Income tax comprises current income tax and deferred income tax. Except for income taxes arising from business combinations and transactions or events recognized directly in equity (including other comprehensive income) the Company recognizes current and deferred income taxes in the current period's profit or loss.Deferred tax assets and deferred tax liabilities are recognized based on the differences (temporary differences) between the tax bases of assets and liabilities and their carrying amounts.Deferred tax assets arising from deductible temporary differences are recognized to the extent that it is probable that taxable profits will be available in future periods against which the deductible temporary differences can be utilized. Deferred tax assets are recognized for deductible losses and tax credits carried forward to future years to the extent that it is probable that future taxable profit will be available against which the deductible losses and tax credits can be utilized.Deferred tax liabilities are recognized for all taxable temporary differences except in specific circumstances.Special circumstances in which deferred tax assets or deferred tax liabilities are not recognized include: * Initial recognition of goodwill.* Transactions or events that are not business combinations do not affect accounting profit or taxable income (or deductible losses) at the time of occurrence and where the initial recognition of assets and liabilities does not give rise to equal amounts of taxable temporary differences and deductible temporary differences.Deferred tax liabilities are recognized for all taxable temporary differences associated 81Chongqing Changan Automobile Co. Ltd. 2026 Semi-Annual Report with investments in subsidiaries associates and joint ventures except where the Company is able to control the timing of the reversal of the temporary difference and it is probable that the temporary difference will not reverse in the foreseeable future. Deferred tax assets are recognized for deductible temporary differences associated with investments in subsidiaries associates and joint ventures when it is probable that the temporary differences will reverse in the foreseeable future and that taxable profit will be available against which the deductible temporary differences can be utilized.At the balance sheet date deferred tax assets and deferred tax liabilities are measured using the tax rates that are expected to apply in the periods when the related assets are recovered or the related liabilities are settled in accordance with tax laws.At the balance sheet date the Company reviews the carrying amount of deferred tax assets. If it is not probable that sufficient taxable profits will be available in the future to utilize the benefits of deferred tax assets the carrying amount of deferred tax assets is reduced. The amount of the reduction is reversed when it is probable that sufficient taxable profit will be available to utilize the deductible temporary differences.Current income tax assets and current income tax liabilities are presented on a net basis when there is a legally enforceable right to set off the recognized amounts and there is an intention either to settle on a net basis or to realize the asset and settle the liability simultaneously.On the balance sheet date deferred tax assets and deferred tax liabilities are presented on a net basis only when the following conditions are simultaneously met: * The taxpayer has a legally enforceable right to offset current income tax assets against current income tax liabilities on a net basis.* Deferred tax assets and deferred tax liabilities are recognized as a net amount if they relate to income taxes levied by the same taxation authority on either the same taxable entity or on different taxable entities that intend to settle current tax assets and liabilities on a net basis or to realize the assets and settle the liabilities simultaneously in each future period in which significant deferred tax assets and liabilities are expected to reverse. 29. Leasing Leasing refers to a contract whereby the lessor transfers the right to use an asset to the lessee for a specified period in exchange for consideration. On the commencement date of the contract the Company assesses whether the contract is or contains a lease. A contract is a lease or contains a lease if it conveys the right to control the use of one or more identified assets for a period of time in exchange for consideration.When a contract contains multiple separate leases the Company shall separate the contract and account for each separate lease individually. When a contract contains both lease and non-lease components the lessee and the lessor shall allocate the lease and non-lease components separately. (1) The Company as the lessee (1) Right-of-use assets On the commencement date of the lease term the Company recognizes a right-of-use asset for all leases except for short-term leases and leases of low-value assets. Right-of-use assets are initially measured at cost. This cost includes: * The initial measurement amount of lease liabilities; * Lease payments made at or before the commencement date of the lease net of any lease incentives received.* Initial direct costs incurred by the Company; * The Company recognizes provisions for the estimated costs of dismantling and removing leased assets restoring the site on which the leased assets are located or restoring the leased assets to the condition stipulated in the lease terms excluding costs incurred for the production of inventory.The Company will subsequently depreciate the right-of-use assets using the straight-line method. For leases where it is reasonably certain that the Company will obtain ownership of the leased asset at the end of the lease term depreciation is charged over the remaining useful life of the leased asset; otherwise depreciation is charged over the shorter of the lease term and the remaining useful life of the 82Chongqing Changan Automobile Co. Ltd. 2026 Semi-Annual Report leased asset. (2) Lease liabilities On the commencement date of the lease term the Company recognizes a lease liability for all leases except for short-term leases and leases of low-value assets.Lease liabilities are initially measured at the present value of the lease payments that are not yet paid. Lease payments include: * Fixed payments (including substantive fixed payments) less any lease incentives received.* Variable lease payments that depend on an index or a rate; * The estimated amount payable based on the guaranteed residual value provided by the company.* The exercise price of the purchase option provided that the company reasonably determines it will exercise such option; * Amounts payable for exercising a termination option provided that the lease term reflects the company's intention to exercise that termination option.The Company utilizes the implicit rate of the lease as the discount rate; however if the implicit rate of the lease cannot be determined reasonably the Company's incremental borrowing rate is used as the discount rate.The Company calculates interest expenses on lease liabilities for each period during the lease term based on a fixed periodic interest rate and recognizes them in current profit or loss or as part of the cost of relevant assets.Variable lease payments that are not included in the measurement of the lease liability are recognized in profit or loss for the current period or as part of the cost of the related asset when they occur.Subsequent to the commencement date of the lease the Company remeasures the lease liability and adjusts the corresponding right-of-use asset in the event of the following circumstances; if the carrying amount of the right-of-use asset has been reduced to zero but the lease liability still requires further reduction the difference shall be recognized in profit or loss for the current period.When the assessment results of purchase options renewal options or termination options change or when the actual exercise of such options differs from the original assessment the Company remeasures the lease liability based on the present value of the revised lease payments calculated using the revised discount rate.When the amount of substantive fixed lease payments changes the estimated amount payable under the guaranteed residual value changes or the index or rate used to determine lease payments changes the Company remeasures the lease liability based on the present value of the revised lease payments discounted at the original discount rate. However if changes in lease payments arise from changes in a floating interest rate the present value shall be recalculated using a revised discount rate. (3) Short-term leases and leases of low-value assets The Company elects not to recognize right-of-use assets and lease liabilities for short-term leases and leases of low-value assets and instead recognizes the related lease payments as an expense on a straight-line basis over the lease term in the current period's profit or loss or in the cost of the relevant asset. A short-term lease is defined as a lease that at the commencement date has a lease term of no more than 12 months and does not include a purchase option. A low-value asset lease refers to a lease where the underlying asset when new has a low value. If a company subleases or expects to sublease a leased asset the original lease shall not be classified as a low-value asset lease. (4) Lease modification A lease modification is accounted for as a separate lease if the modification increases the scope of the lease by adding the right to use one or more underlying 83Chongqing Changan Automobile Co. Ltd. 2026 Semi-Annual Report assets and the consideration for the lease modification increases by an amount commensurate with the stand-alone price for the increase in scope adjusted for the specific circumstances of the contract.* The lease modification expands the scope of the lease by adding one or more underlying assets.* The additional consideration is commensurate with the stand-alone selling price of the expanded scope of the lease adjusted for the circumstances of the contract.If a lease modification is not accounted for as a separate lease on the effective date of the modification the Company shall reallocate the consideration of the modified contract reassess the lease term and remeasure the lease liability based on the present value of the modified lease payments discounted at the revised discount rate.In the event that a lease modification results in a reduction in the scope of the lease or a shortening of the lease term the Company shall correspondingly reduce the carrying amount of the right-of-use asset and recognize any related gain or loss from the partial or full termination of the lease in the current period's profit or loss.For other lease modifications that result in the remeasurement of the lease liability the Company correspondingly adjusts the carrying amount of the right-of-use asset. (2) The Company acting as the lessor On the commencement date of the lease the Company classifies leases as either finance leases or operating leases. Financial leasing refers to a lease arrangement in which regardless of whether ownership is ultimately transferred substantially all risks and rewards incidental to ownership of the leased asset are transferred.Operating lease refers to any lease other than a finance lease. When the Company acts as a sublessor it classifies the sublease based on the right-of-use asset arising from the head lease. (1) Accounting treatment for operating leases The lease payments under an operating lease are recognized as rental income on a straight-line basis over the lease term. The company capitalizes initial direct costs incurred in connection with operating leases and allocates them to current profit or loss over the lease term on a basis consistent with that used to recognize rental income. Variable lease payments that are not included in the measurement of the lease receivable are recognized in profit or loss in the period in which the event or condition on which they depend occurs. In the event of a modification to an operating lease the Company shall account for the modified lease as a new lease effective from the modification date and any lease payments received or receivable prior to the modification shall be treated as payments for the new lease. (2) Accounting treatment for financial leasing On the commencement date of the lease the Company recognizes a receivable for the finance lease and derecognizes the leased asset. When initially measuring receivables from finance leases the Company recognizes the net investment in the lease as the carrying amount of the receivables from finance leases. The net investment in the lease is the sum of the present value of the unguaranteed residual value and the lease payments receivable that are not yet received at the commencement date of the lease term discounted at the interest rate implicit in the lease.The Company calculates and recognizes interest income for each period during the lease term based on a fixed periodic interest rate. The derecognition and impairment of finance lease receivables are accounted for in accordance with Note V(9) "Financial Instruments" of these Notes. Variable lease payments that are not included in the measurement of the net investment in the lease are recognized in profit or loss when they occur.If a modification to a finance lease occurs and simultaneously meets the following conditions the Company shall account for such modification as a separate lease: 84Chongqing Changan Automobile Co. Ltd. 2026 Semi-Annual Report This change expands the scope of the lease by adding one or more right-of-use assets.The additional consideration is commensurate with the stand-alone selling price of the expanded scope of the lease adjusted for the circumstances of that contract.If the modification of a finance lease is not accounted for as a separate lease the Company shall account for the modified lease in accordance with the following circumstances: If a modification would have resulted in the lease being classified as an operating lease had it been effective at the commencement date the Company accounts for the modification as a new lease from the effective date of the modification with the carrying amount of the leased asset being the net investment in the lease immediately prior to the effective date of the modification; If the modification were effective at the commencement date of the lease and the lease would have been classified as a finance lease the Company accounts for the modification in accordance with the policy on modification or renegotiation of contracts set forth in Note V(IX) "Financial Instruments". (3) Sale and leaseback transaction The Company assesses and determines whether the transfer of assets in a sale and leaseback transaction constitutes a sale in accordance with the principles set forth in Note V (25) Revenue. (1) As a lessee Where the transfer of an asset in a sale and leaseback transaction qualifies as a sale the lessee measures the right-of-use asset arising from the leaseback at the proportion of the carrying amount of the original asset that relates to the right of use retained and recognizes only the gain or loss relating to the rights transferred to the lessor.In a sale and leaseback transaction if the transfer of the asset does not qualify as a sale the company acting as the lessee shall continue to recognize the transferred asset and simultaneously recognize a financial liability equal to the proceeds received from the transfer. The accounting treatment of financial liabilities is detailed in Note V(IX) "Financial Instruments". (2) As a lessor If the asset transfer in a sale and leaseback transaction constitutes a sale the Company as the lessor accounts for the asset acquisition and accounts for the asset lease in accordance with the policy set forth in "2. The Company as the Lessor"; if the asset transfer in a sale and leaseback transaction does not constitute a sale the Company as the lessor does not recognize the transferred asset but recognizes a financial asset equal to the proceeds from the transfer. The accounting treatment of financial assets is detailed in Note V (IX) "Financial Instruments". 30. Methodology for determining importance criteria and basis for selection. Item Criteria of Importance The net assets of a subsidiary account for more than 5% of the Significant non-wholly-owned subsidiaries consolidated net assets or its net profit accounts for more than 10% of the consolidated net profit.The investment income or loss under the equity method for long-term Significant joint ventures and associates. equity investments accounts for more than 10% of the company's consolidated net profit.The write-off amount for a single item exceeds 5% of the total provision Write-off of significant accounts receivable for bad debts on all types of receivables or amounts to more than 15 million RMB. 85Chongqing Changan Automobile Co. Ltd. 2026 Semi-Annual Report Item Criteria of Importance Significant reversals or recoveries of The amount of a single write-back or reversal of bad debt provisions for allowances for doubtful accounts receivable. receivables accounts for more than 5% of the total bad debt provisions forall categories of receivables or exceeds 15 million RMB.Significant prepayments with an aging period Individual amounts exceeding 5% of the total balance of various types of exceeding one year. prepaid accounts or amounts greater than 15 million RMB.Significant accounts payable with an aging Individual amounts exceeding 5% of the total accounts payable for each period exceeding one year or in arrears. category or amounts greater than 15 million RMB.Important ongoing construction Items The Item's year-end balance exceeds 50 million RMB. 31. Changes in significant accounting policies and accounting estimates (1) Significant changes in accounting policies None. (2) Significant changes in accounting estimates None.VI. Taxes 1. Major tax types and tax rates Tax types Tax base Tax Rate (%) Output tax is calculated based on the revenue from the sale of goods and taxable services in accordance with tax laws Value-Added Tax (VAT) and the amount of value-added tax payable is the difference 6 7 9 13 after deducting the input tax allowed for deduction in the current period.Consumption tax Payable based on taxable sales revenue. 1 3 5 Urban Maintenance and Construction Tax Payable based on the actual value-added tax andconsumption tax paid. 5 7 Corporate income tax Payable based on taxable income. 15-41 Surcharges on Education Tax Payable based on the actual value-added tax andconsumption tax paid. 3 Surcharges on Local Education Taxes Payable based on the actual value-added tax andconsumption tax paid. 2 2. Tax incentives 1. In accordance with the relevant regulations for the recognition of national high-tech enterprises and the applicable tax incentive policies the Company and its subsidiaries below have been recognized as high-tech enterprises and are entitled to a preferential corporate income tax rate of 15% within the prescribed period: This company (2024–2026) its subsidiary Beijing Changan Automobile Engineering Research Co. Ltd. (2024–2026) Hebei Changan Automobile Co. Ltd. (2026–2028) and Deepal Automobile Technology Co. Ltd. (2026–2028). 2. In accordance with the "Announcement on Continuing the Corporate Income Tax Policies for the Western Region" jointly issued by the Ministry of Finance the State Taxation Administration and the National Development and Reform Commission (Announcement No. 23 of 2020 by the Ministry of Finance the State Taxation Administration and the National Development and Reform Commission) from January 1 2021 to December 31 2030 corporate income tax shall be levied at a reduced rate of 15% for enterprises engaged in encouraged industries located in the western region. Our company's subsidiaries include Chongqing Changan International Sales Service Co. Ltd.Chongqing Changan Special Purpose Vehicle Co. Ltd. Chongqing Changan Customer 86Chongqing Changan Automobile Co. Ltd. 2026 Semi-Annual Report Service Co. Ltd. Chongqing Changan Software Technology Co. Ltd. Chongqing Changan Technology Co. Ltd. Chongqing Xingzhi Technology Co. Ltd. Chongqing Lingyao Automobile Co. Ltd. and Chongqing Chehe Mei Technology Co. Ltd. In compliance with the aforementioned requirements the corporate income tax payable shall be calculated at the 15% tax rate. 3. In accordance with the "Announcement of the Ministry of Finance and the State Taxation Administration on Further Supporting the Development of Small and Micro Enterprises and Individual Industrial and Commercial Households Regarding Relevant Tax and Fee Policies" (Announcement No. 12 of 2023 of the Ministry of Finance and the State Taxation Administration) the taxable income of small and low-profit enterprises shall be calculated at 25% of the actual amount and corporate income tax shall be levied at a rate of 20%. Our subsidiaries Shanghai Changan Zhixing Technology Co. Ltd.Xiamen Changan New Energy Automobile Sales and Service Co. Ltd. Deepal Automobile Nanjing Research Institute Co. Ltd. and Deepal Automobile Marketing and Service (Shenzhen) Co. Ltd. have been recognized as small and low-profit enterprises and are eligible for the corresponding tax preferential policies. 4. In accordance with the "Announcement of the Ministry of Finance and the State Taxation Administration on the Policy of Additional Deduction for Value-Added Tax by Advanced Manufacturing Enterprises" (Announcement No. 43 of the Ministry of Finance and the State Taxation Administration 2023) advanced manufacturing enterprises are permitted to deduct an additional 5% of the current period's deductible input VAT from their payable VAT amount for the period from January 1 2023 to December 31 2027.This additional deduction policy applies to our company Hebei Changan Automobile Co.Ltd. and Deepal Automobile Technology Co. Ltd.VII. Notes to Consolidated Financial Statement Items 1. Cash and cash equivalents Item Ending balance Beginning balance Cash 37315.38 18757.73 Cash at bank 26357687126.70 39929836510.36 Other cash 1860301929.25 911014156.74 Cash at financial company 11433808345.52 13180865840.46 Total 39651834716.85 54021735265.29 Among them: total amount of funds stored overseas 5790686462.75 4732403202.98 Note 1: As of June 30 2026 the amount of funds held overseas by the Company that are restricted from remittance back to China specifically in the form of a security deposit totaled RMB 21673168.44.Note 2: Details of monetary funds held by the Company in related-party financial institutions are provided in Note XIV Chapter (V). 2. Trading financial assets Item Balance at end of Balance at beginningperiod of prior year Financial assets measured at fair value through profit or loss 128326557.59 Investments in equity instruments 98189461.12 Derivative financial instruments 30137096.47 87Chongqing Changan Automobile Co. Ltd. 2026 Semi-Annual Report Item Balance at end of Balance at beginningperiod of prior year Total 128326557.59 3. Notes Receivable 1、 Notes receivable shall be presented in separate categories. Item Balance at end of period Balance at beginning of prior year Bank acceptance bills 15192400630.63 19000946520.12 Commercial acceptance bills 10839673699.58 13996998569.07 Total 26032074330.21 32997945089.19 88Chongqing Changan Automobile Co. Ltd. 2026 Semi-Annual Report 2、 Notes receivable are disclosed by classification according to the method for provision of bad debts. Balance at end of period Balance at beginning of prior year Category Book balance Bad debt provision Book balance Bad debt provision Book value Book value Amount Ratio (%) Amount Provisionratio (%) Amount Ratio (%) Amount Provision ratio (%) By credit riskBad debt provision provided by 26032074330.21 100.00 26032074330.21 32997945089.19 100.00 32997945089.19 characteristic portfolio Total 26032074330.21 100.00 26032074330.21 32997945089.19 100.00 32997945089.19 89Chongqing Changan Automobile Co. Ltd. 2026 Semi-Annual Report Notes receivable for which provision for bad debts is accrued based on a combination of credit risk characteristics: Balance at end of period Name Notes receivable Bad debt provision Provision ratio (%) Bank acceptance bills 15192400630.63 Commercial acceptance bills 10839673699.58 Total 26032074330.21 3、 Notes receivable pledged by the company at the end of the fiscal period. Item Pledged at end of periodDeposit amount Bank acceptance bills 3708173268.45 Commercial acceptance bills 1109431639.00 Total 4817604907.45 4、 Notes receivable endorsed or discounted by the company at the end of the term that have not yet matured as of the balance sheet date.Item Amount derecognized at end of Amount not derecognized at end ofperiod period Bank acceptance bills 8224618322.30 Commercial acceptance bills Total 8224618322.30 4. Accounts Receivable 1、 Accounts receivable are disclosed by aging. Aging Balance at end of period Balance at beginning of prior year 1Within one year (including1years) 7476612928.04 4229226208.97 1to2years (including2years) 29216375.55 18615201.37 2to3years (including3years) 1116962.40 699218.40 3years and above 185072236.79 185165040.70 Subtotal 7692018502.78 4433705669.44 Less: bad debt provision 191885926.53 236861022.29 Total 7500132576.25 4196844647.15 90Chongqing Changan Automobile Co. Ltd. 2026 Semi-Annual Report 2、 Disclosure of accounts receivable classified by the method of provision for bad debts. Balance at end of period Balance at beginning of prior year Category Book balance Bad debt provision Book balance Bad debt provision Book value Book value Amount Ratio (%) Amount Provision Amount Ratio Amount Provisionratio (%) (%) ratio (%) Bad debt provision made individually 84710827.34 1.10 76932416.95 90.82 7778410.39 134737278.68 3.04 117520250.03 87.22 17217028.65 By credit riskBad debt provision provided by 7607307675.44 98.90 114953509.58 1.51 7492354165.86 4298968390.76 96.96 119340772.26 2.78 4179627618.50 characteristic portfolio Total 7692018502.78 100.00 191885926.53 7500132576.25 4433705669.44 100.00 236861022.29 4196844647.15 91Chongqing Changan Automobile Co. Ltd. 2026 Semi-Annual Report Accounts receivable for which bad debt provisions are accrued based on a combination of credit risk characteristics: Balance at end of period Name Accounts receivable Bad debt provision Provision ratio (%) 1Within one year (including1years) 7460612928.04 565224.40 0.01 1to2years (including2years) 29216375.55 554582.40 1.90 2to3years (including3years) 770189.36 238991.57 31.03 3years and above 116708182.49 113594711.21 97.33 Total 7607307675.44 114953509.58 3、 Details of the provision for bad debts accrued reversed or recovered in the current period.Balance at Current periodChange in amount Category beginning of Balance at end prior year Provision Recovery orreversal ReversalOrWrite-off Other changes of period Bad debt provision made 117520250.03 2966196.52 37621636.56 76932416.95 individually By credit riskBad debt provision provided by 119340772.26 3292602.97 7679865.65 114953509.58 characteristic portfolio Total 236861022.29 3292602.97 10646062.17 37621636.56 191885926.53 4、 Details of accounts receivable and contract assets aggregated by the top five debtors at the end of the reporting period.As of June 30 2026 the aggregate balance of the top five accounts receivable amounted to RMB 4913350089.41 representing 57.72% of the total ending balance of accounts receivable and contract assets. 5. Prepayments 1、 Prepayments are presented by aging. Balance at end of period Balance at beginning of prior year Aging Amount Ratio(%) Amount Ratio(%) 1Within one year (including1years) 913202107.15 98.25 485225383.15 98.56 1to2years (including2years) 11764036.34 1.27 3007464.47 0.61 2to3years (including3years) 3891152.81 0.42 4024296.15 0.82 3years and above 534429.12 0.06 30000.00 0.01 Total 929391725.42 100.00 492287143.77 100.00 2、 Details of the top five prepayments by payee at the end of the reporting period.As of June 30 2026 the combined balance of the top five prepayments amounted to RMB 606524376.51 representing 65.26% of the total prepayments. 92Chongqing Changan Automobile Co. Ltd. 2026 Semi-Annual Report 6. Other receivables Item Balance at end of period Balance at beginning of prioryear Other receivables item 967587420.26 882272960.21 Total 967587420.26 882272960.21 1、 Other receivables are disclosed by aging. Aging Balance at end of period Balance at beginning of prioryear 1Within one year (including1years) 806823180.67 752443662.80 1to2years (including2years) 139826156.48 74225094.04 2to3years (including3years) 5795957.86 7617463.19 3years and above 170036640.57 58940761.15 Subtotal 1122481935.58 893226981.18 Less: bad debt provision 154894515.32 10954020.97 Total 967587420.26 882272960.21 93Chongqing Changan Automobile Co. Ltd. 2026 Semi-Annual Report 2、 Other receivables are disclosed by classification according to the impairment provision method. Balance at end of period Balance at beginning of prior year Category Book balance Bad debt provision Book balance Bad debt provision Amount Ratio Book value Book value (%) Amount Provision Ratio Provision ratio (%) Amount (%) Amount ratio (%) Bad debt provision made individually 150856080.62 13.44 150856080.62 100.00 7259741.71 0.81 7259741.71 100.00 By credit riskBad debt provision provided by 971625854.96 86.56 4038434.70 0.42 967587420.26 885967239.47 99.19 3694279.26 0.42 882272960.21 characteristic portfolio Total 1122481935.58 100.00 154894515.32 967587420.26 893226981.18 100.00 10954020.97 882272960.21 94Chongqing Changan Automobile Co. Ltd. 2026 Semi-Annual Report Other receivables for which provision for bad debts is accrued based on combinations of credit risk characteristics: Balance at end of period Name Other receivables item Bad debt provision Provision ratio (%) 1Within one year (including1years) 806762316.14 2032243.49 0.25 1to2years (including2years) 139826156.48 233557.23 0.17 2to3years (including3years) 5795957.86 177021.47 3.05 3years and above 19241424.48 1595612.51 8.29 Total 971625854.96 4038434.70 3、 Provision for Bad Debts Accrual Status Stage 1 Stage 2 Stage 3 Expected credit Expected credit Bad debt provision Future12Expected loss over the entire loss over theentire Totalcredit loss over duration(No credit months impairment duration(Credit incurred) impairmentincurred) Balance at beginning of prior year 3694279.26 7259741.71 10954020.97 Balance at beginning of prior year in current period --Transfer to Stage 2 --Transfer to Stage 3 --Transfer back to Stage 2 --Transfer back to Stage 1 Current period provision 390669.27 390669.27 Current period reversal 46513.83 46513.83 Current periodReversal Current periodWrite-off Other changes 143596338.91 143596338.91 Balance at end of period 4038434.70 150856080.62 154894515.32 4、 Details of the bad debt provision accrued reversed or recovered in the current period.Current periodChange in amount Balance at Category beginning of Balance at end of prior year Provision Recovery or Reversal reversal OrWrite- Other changes period off Bad debt provision made 7259741.71 143596338.91 150856080.62 individually By credit riskBad debt 3694279.26 390669.27 46513.83 4038434.70 provision 95Chongqing Changan Automobile Co. Ltd. 2026 Semi-Annual Report Current periodChange in amount Balance at Category beginning of Balance at end of prior year Provision Recovery or Reversal reversal OrWrite- Other changes period off provided by characteristic portfolio Total 10954020.97 390669.27 46513.83 143596338.91 154894515.32 5、 Classification by nature of funds Nature of payments End of period book balance Beginning of prior year book balance Subsidy receivable 338156514.00 306292934.00 Land receivableReserve collection funds 140042216.57 249001679.00 Petty cash 102143584.46 57611056.67 Deposits and guarantees 34591223.05 40499372.49 Advance equity investment payment 617441.00 3112440.00 Other 506930956.50 236709499.02 Total 1122481935.58 893226981.18 6、 Details of the top five other receivables by debtor as of the end of the period. As of June 30 2026 the combined ending balance of the top five other receivables amounted to 678544890.27 RMB.This amount represents 60.45% of the total ending balance of other receivables. 96Chongqing Changan Automobile Co. Ltd. 2026 Semi-Annual Report 7. Inventory 1、 Inventory classification Balance at end of period Balance at beginning of prior year Category Inventory falling price Inventory falling price Book balance reserve/Contractperformance cost Book value Book balance reserve/Contract performance cost Book value impairment provision impairment provision Raw materials 1781346204.46 59466407.69 1721879796.77 1135459985.00 56372428.95 1079087556.05 Materials in transit 105260222.99 105260222.99 133511351.78 - 133511351.78 Entrusted processing materials - - - 0.00 Work in progress 1509259241.38 123998385.08 1385260856.30 1703295662.07 82615815.74 1620679846.33 Finished goods 20045091200.95 501893741.66 19543197459.29 19536728819.47 189212925.86 19347515893.61 Other 359786018.02 359786018.02 337491722.87 - 337491722.87 Total 23800742887.80 685358534.43 23115384353.37 22846487541.19 328201170.55 22518286370.64 97Chongqing Changan Automobile Co. Ltd. 2026 Semi-Annual Report 2、 Provision for decline in inventory value and provision for impairment of contract fulfillment costs Balance at beginning of Increases for the period amount Decreases for the period amountCategory prior year Balance at end of periodProvision Other Reversal or write-off Other Raw materials 56372428.95 7334646.95 4448635.87 8689304.08 59466407.69 Work in progress 82615815.74 110006026.15 68623456.81 123998385.08 Finished goods 189212925.86 401062187.28 2032431.46 90413802.94 501893741.66 Total 328201170.55 518402860.38 6481067.33 167726563.83 685358534.43 The Company bases its provision for inventory obsolescence on whether the cost of inventory exceeds its net realizable value. Net realizable value refers to the estimated selling price in the ordinary course of business less the estimated costs of completion estimated selling expenses and related taxes. The reversal or write-off of the inventory provision for decline in value this year is due to the increase in the net realizable value of inventory previously provided for in prior years or the sale of such inventory during the current year. 98Chongqing Changan Automobile Co. Ltd. 2026 Semi-Annual Report 8. Contract Assets 1、 Status of Contract Assets Balance at end of period Balance at beginning of prior year Ite m Book balance Impairmentprovision Book value Book balance Impairment provision Book value C on tra ct 819652376.23 660966257.16 158686119.07 822590180.23 667318643.16 155271537.07 as set s To tal 819652376.23 660966257.16 158686119.07 822590180.23 667318643.16 155271537.07 2、 The amounts and reasons for significant changes in book value during the reporting period.Item Change in amount Reason for change New energy subsidies 3414582.00 Recovery of partial amounts reversal of impairment provision Total 3414582.00 99Chongqing Changan Automobile Co. Ltd. 2026 Semi-Annual Report 3、 Contract assets are disclosed by classification according to the impairment accrual method. Balance at end of period Balance at beginning of prior year Category Book balance Impairment provision Book balance Impairment provision Amount Ratio Amount Provision Book value Provision Book value (%) ratio (%) Amount Ratio (%) Amount ratio (%) Impairment provision provided 819652376.23 100.00 660966257.16 80.64 158686119.07 822590180.23 100.00 667318643.16 81.12 155271537.07 on individual basis Total 819652376.23 100.00 660966257.16 158686119.07 822590180.23 100.00 667318643.16 155271537.07 100Chongqing Changan Automobile Co. Ltd. 2026 Semi-Annual Report 4、 Provision for impairment of contract assets for the current period Current periodChange in amount Balance at Item beginning of Current Balance at end prior year period Current period Current Other of period provision reversal periodReversal/Write-off changes Contract assets 667318643.16 6352386.00 660966257.16 Total 667318643.16 6352386.00 660966257.16 9. Non-current assets due within one year Item Balance at end of period Balance at beginning of prioryear Long-term receivables due within one year 127410633.45 254821266.90 Time deposits and certificates of deposit due within one year 2732188471.92 1235886944.44 Total 2859599105.37 1490708211.34 10. Other current assets Item Balance at end of period Balance at beginning of prioryear Input tax to be deducted 3611458086.18 3585954836.25 Taxes paid in advance 618496933.62 755648767.95 Time deposits and others 8196211026.34 7456317494.47 Total 12426166046.14 11797921098.67 101Chongqing Changan Automobile Co. Ltd. 2026 Semi-Annual Report 11. Long-term receivables 1、 Status of long-term receivables Balance at end of period Balance at beginning of prior year Item Book balance Bad debt provision Book value Book balance Bad debt provision Book value Long-term receivables 1401516967.94 1401516967.94 1528927601.39 1528927601.39 Subtotal 1401516967.94 1401516967.94 1528927601.39 1528927601.39 Less: portion due within one year 127410633.45 127410633.45 254821266.90 254821266.90 Total 1274106334.49 1274106334.49 1274106334.49 1274106334.49 102Chongqing Changan Automobile Co. Ltd. 2026 Semi-Annual Report 12. Long-term equity investment 1、 Status of long-term equity investments Balance at the end of the Impairment provision Closing balance Impairment Investee unit previous year Changes in the currentBalance at the end of the provisionperiod (book value) previous year (book value) Closing balance 1. Joint venture Nanchang Jiangling Investment Co. Ltd. 2662903407.38 152172675.29 2815076082.67 Changan Mazda Automobile Co. Ltd. 638012017.99 -4326613.65 633685404.34 Changan Mazda Engine Co. Ltd. 809563220.38 -152201.12 809411019.26 Changan Ford Automobile Co. Ltd. 1177568078.19 130698343.83 1308266422.02 Subtotal 5288046723.94 278392204.35 5566438928.29 2. Joint venture Chongqing Changan Kuayue Vehicle Co. Ltd. 258998406.22 -11954505.83 247043900.39 Chongqing Chang'an Kuayue Vehicle Marketing Co. Ltd. 1239482.34 -1239482.34 Changan Automobile Finance Co. Ltd. 5603721114.14 188068528.00 5791789642.14 Nanjing Chelai Travel Technology Co. Ltd. 326831.47 14.86 326846.33 Hunan Guoxin Semiconductor Technology Co. Ltd. 28211161.19 -455662.26 27755498.93 Nanjing Lingxing Equity Investment Partnership (Limited Partnership) 3123552090.24 -29504.04 3123522586.20 Nanjing Lingxing Equity Investment Management Co. Ltd. 1094810.00 -6382.78 1088427.22 CATARC Intelligent Driving Technology Co. Ltd. 420296556.11 -1746697.00 418549859.11 Chongqing Changxin Zhiji Private Equity Investment Fund Partnership (Limited Partnership) 264750946.49 -12171756.87 252579189.62 Anhe Chongqing Dingfeng Automotive Contractual Private Equity Investment Fund 62063111.61 78.47 62063190.08 Avatr Technology (Chongqing) Co. Ltd. 3686300152.84 -649433721.68 3036866431.16 103Chongqing Changan Automobile Co. Ltd. 2026 Semi-Annual Report Balance at the end of the Impairment provision Impairment Investee unit previous year Changes in the current Closing balance Balance at the end of the provisionperiod (book value) previous year (book value) Closing balance Chongqing Chang'an Innovation Private Equity Investment Fund Partnership (Limited Partnership) 167691152.12 -521683.78 167169468.34 Chongqing Changyu Private Equity Investment Fund Partnership (Limited Partnership) 75033392.06 -974982.65 74058409.41 Hangzhou Cherry Intelligent Technology Co. Ltd.Western Vehicle Network (Chongqing) Co. Ltd. 4446554.47 -491007.02 3955547.45 Anhe (Chongqing) Private Equity Investment Fund Management Co. Ltd. 9641779.73 -1643491.58 7998288.15 Chongqing Changxian Intelligent Technology Co. Ltd. 126101849.17 1048221.03 127150070.20 Changan Ford New Energy Automotive Technology Co. Ltd. 153148103.41 697535.63 153845639.04 Chenzhi Anqi (Chongqing) Circular Technology Co. Ltd. 21612792.71 -528701.99 21084090.72 Changan Mazda Automobile Co. Ltd. 101599499.67 19623360.16 121222859.83 Chongqing Anda Semiconductor Co. Ltd. 41662428.19 -1441425.02 40221003.17 Chongqing Wutong Vehicle Networking Technology Co. Ltd. 86061012.40 1005676.55 87066688.95 FAW CATL Power Battery Co. Ltd. 360274829.93 38390048.06 398664877.99 Changan Times New Energy Battery Co. Ltd. 540807602.45 276129152.38 816936754.83 Chongqing Changyuxinhe Private Equity Investment Fund Partnership (Limited Partnership) 2448636.53 2448636.53 Subtotal 15138635658.96 -155227753.17 14983407905.79 Total 20426682382.90 123164451.18 20549846834.08 13. Investments in other equity instruments 1、 Status of investments in other equity instruments Item name Balance at Changes during the current period Balance at end Dividend Cumulative gains Cumulative losses Reason for designation as beginning of of period income recognized in recognized in measured at fair value 104Chongqing Changan Automobile Co. Ltd. 2026 Semi-Annual Report Gain Loss recognized in recognized in Additional other other investment comprehensive comprehensive income for the income for the period period China South Industries Non-listed investments in Group Finance Co. Ltd. 351000000.00 351000000.00 193979200.00 equity instruments Guoqi (Beijing) Intelligent Connected Vehicle Research Institute Co. 50000000.00 50000000.00 Non-listed investments in equity instruments Ltd.GuoLian Automobile Power Battery Research 32000000.00 32000000.00 8000000.00 Non-listed investments in Institute Co. Ltd. equity instruments Changan Financing Leasing Co. Ltd. 36000000.00 36000000.00 5448000.00 Non-listed investments in equity instruments Zhongfa Lian 14801858.72 14801858.72 15041910.38 6198141.28 Non-listed investments inInvestmentCo. Ltd. equity instruments Guoqi(Beijing)Automobile Lightweight Technology Research Institute Co. 4400000.00 4400000.00 1400000.00 Non-listed investments in equity instruments Ltd.Chenchi TechnologyCo.Ltd. 97000000.00 97000000.00 5461538.00 Non-listed investments in equity instruments Zhongqi New Energy Battery Technology Co. 107000000.00 107000000.00 4123985.46 Non-listed investments in Ltd. equity instruments Total 692201858.72 692201858.72 15041910.38 206288738.00 18322126.74 105Chongqing Changan Automobile Co. Ltd. 2026 Semi-Annual Report 14. Investment property 1、 Investment property measured using the cost model. Item Buildings and structures Total 1．Original carrying amount (1)Balance at beginning of prior year 10050100.00 10050100.00 (2)Increases for the period amount (3)Decreases for the period amount (4)Balance at end of period 10050100.00 10050100.00 2Accumulated depreciation and accumulated amortization (1)Balance at beginning of prior year 4307519.64 4307519.64 (2)Increases for the period amount 113355.78 113355.78 —Provision or amortization 113355.78 113355.78 (3)Decreases for the period amount (4)Balance at end of period 4420875.42 4420875.42 3Impairment provision (1)Balance at beginning of prior year (2)Increases for the period amount (3)Decreases for the period amount (4)Balance at end of period 4Book value (1)Carrying amount at end of period 5629224.58 5629224.58 (2)Beginning of prior year book value 5742580.36 5742580.36 15. Fixed assets 1、 Fixed Assets and Disposal of Fixed Assets Item Balance at end of period Balance at beginning of prioryear Fixed assets 22310782207.86 22048786066.87 Total 22310782207.86 22048786066.87 106Chongqing Changan Automobile Co. Ltd. 2026 Semi-Annual Report 2、 Status of Fixed Assets Item Buildings and structures Machinery and equipment Transportation equipment Other Total 1.Original carrying amount (1)Balance at beginning of prior year 11863699627.91 29066973374.17 289606267.82 10641034843.78 51861314113.68 (2)Increases for the period amount 565884545.86 1751877569.16 3384982.54 535375403.88 2856522501.44 —Acquisition 49201671.85 16390657.44 65592329.29 —Transferred from construction in progress 81522937.46 370305084.32 2678708.95 461607242.48 916113973.21 —Increase from business combination 484361608.40 1332370812.99 706273.59 57373662.07 1874812357.05 —Exchange rate changes 3841.89 3841.89 (3)Decreases for the period amount 61440048.44 893423451.35 2937272.81 428447916.26 1386248688.86 —Disposal or write-off 882406940.15 2937272.81 405177964.41 1290522177.37 —Government subsidies 4811273.58 2756072.58 7567346.16 —Exchange rate changes 61440048.44 6205237.62 20513879.27 88159165.33 (4)Balance at end of period 12368144125.33 29925427491.98 290053977.55 10747962331.40 53331587926.26 2.Accumulated depreciation (1)Balance at beginning of prior year 3494586531.67 18582827170.16 167485725.13 5622668213.86 27867567640.82 (2)Increases for the period amount 319076938.43 1716195946.16 2004634.71 370953924.14 2408231443.44 —Provision 208217792.01 838706723.08 1630239.37 321962586.01 1370517340.47 —Exchange rate changes 1548.08 1548.08 —Increase from business combination 110859146.42 877489223.08 374395.34 48989790.05 1037712554.89 (3)Decreases for the period amount 2042464.51 731453927.28 2160252.88 310910287.32 1046566931.99 107Chongqing Changan Automobile Co. Ltd. 2026 Semi-Annual Report Item Buildings and structures Machinery and equipment Transportation equipment Other Total —Disposal or write-off 727392902.36 2160252.88 310910287.32 1040463442.56 —Exchange rate changes 2042464.51 4061024.92 6103489.43 (4)Balance at end of period 3811621005.59 19567569189.04 167330106.96 5682711850.68 29229232152.27 3.Impairment provision (1)Balance at beginning of prior year 36561133.91 1744212082.49 890946.37 163296243.22 1944960405.99 (2)Increases for the period amount 4154546.98 52821887.23 2006.25 805065.34 57783505.80 —Provision 1219907.32 535027.32 1754934.64 —Increase from business combination 4154546.98 51601979.91 2006.25 270038.02 56028571.16 (3)Decreases for the period amount 132219196.51 497731.99 78453417.16 211170345.66 —Disposal or write-off 132219196.51 497731.99 78453417.16 211170345.66 (4)Balance at end of period 40715680.89 1664814773.21 395220.63 85647891.40 1791573566.13 4.Book value (1)Carrying amount at end of period 8515807438.85 8693043529.73 122328649.96 4979602589.32 22310782207.86 (2)Beginning of prior year book value 8332551962.33 8739934121.52 121229596.32 4855070386.70 22048786066.87 108Chongqing Changan Automobile Co. Ltd. 2026 Semi-Annual Report 3、 Fixed assets temporarily idle as of June 30 2026 had a book value of RMB 20625406.47 (as of December 2025). Fixed assets amounting to RMB 165186236.58 as of the 31st. Temporarily idle due to product upgrades and replacements. 4、 Status of fixed assets leased out under operating leases. Item Carrying amount at end of period Carrying amount at beginning ofperiod Buildings and structures 90425664.88 2161991739.34 Machinery and equipment 117882085.34 Transport vehicles Other equipment 6720938.20 5、 Status of fixed assets for which property ownership certificates have not been obtained.As of June 30 2026 the Company holds no fixed assets lacking title certificates. 16. Construction in progress 1、 Construction in progress and engineering materials Balance at end of period Balance at beginning of prior year Item Book balance Impairment Impairmentprovision Book value Book balance provision Book value Construction in progress 1241117877.05 26550989.64 1214566887.41 1056595927.21 27861352.87 1028734574.34 Total 1241117877.05 26550989.64 1214566887.41 1056595927.21 27861352.87 1028734574.34 2、 Status of ongoing construction Items Balance at end of period Balance at beginning of prior year Item Book balance Impairment Impairmentprovision Book value Book balance provision Book value Engineering construction item 206526678.29 206526678.29 173720868.36 173720868.36 Engine technical transformationItem 29302536.02 20921684.06 8380851.96 29931666.41 20921684.06 9009982.35 Production line construction and technical 281151984.18 281151984.18 438511351.27 438511351.27 transformation item OtherItem 724136678.56 5629305.58 718507372.98 414432041.17 6939668.81 407492372.36 Total 1241117877.05 26550989.64 1214566887.41 1056595927.21 27861352.87 1028734574.34 109Chongqing Changan Automobile Co. Ltd. 2026 Semi-Annual Report 3、 Changes in significant construction Items in progress during the current period. Accumulated Of which: Balance at Increases for Amount Other project Cumulative interest Interest Item name Budget amount beginning of the period transferred to decreases Balance at end investment Project progress amount of capitalized for capitalization Source of prior year amount fixed assets for the of period as interest the rate for the fundsfor the period period percentage (%) capitalized periodAmount period(%) of budget(%) capitalized Engineering construction 6674709893.50 173720868.36 140766635.73 105001801.37 209485702.72 14.77 14.77 Self-owned item funds Engine technical transformation 447175000.00 29931666.41 10618657.56 11247787.95 29302536.02 80.47 80.47 Self-owned funds project Production line Self-raised construction and technical 7807867000.00 438511351.27 393967529.37 510800130.06 321678750.58 35.17 35.17 and additional transformation issuance item Self-raised OtherItem 414432041.17 561609676.98 289064253.83 6326576.59 680650887.73 andadditional issuance Total 1056595927.21 1106962499.64 916113973.21 6326576.59 1241117877.05 110Chongqing Changan Automobile Co. Ltd. 2026 Semi-Annual Report 4、 Details of the impairment provision accrued for construction in progress in the current period.Balance at Changes during the current period Item beginning of Balance at end Reason for prior year Provision Transferred Other of period provisionout Engine technical transformation 20921684.06 20921684.06 project OtherItem 6939668.81 1310363.23 5629305.58 Total 27861352.87 1310363.23 26550989.64 17. Right-of-use asset 1、 Status of right-of-use assets Item Buildings and structures Machinery andequipment Total 1．Original carrying amount (1)Balance at beginning of prior year 594981585.09 14367603.77 609349188.86 (2)Increases for the period amount 20756756.34 20756756.34 —New leases 20731292.95 20731292.95 —Exchange rate changes 25463.39 25463.39 (3)Decreases for the period amount 2320339.96 2320339.96 —Disposal 1942155.36 1942155.36 —OtherDecrease 378184.60 378184.60 (4)Balance at end of period 613418001.47 14367603.77 627785605.24 2Accumulated depreciation (1)Balance at beginning of prior year 208308512.14 4435417.87 212743930.01 (2)Increases for the period amount 70259041.88 870662.04 71129703.92 —Provision 70245399.88 870662.04 71116061.92 —Exchange rate changes 13642.00 13642.00 —Increase from business combination (3)Decreases for the period amount 1971032.13 1971032.13 —Transferred to fixed assets —Disposal 1942155.36 1942155.36 —OtherDecrease 28876.77 28876.77 (4)Balance at end of period 276596521.89 5306079.91 281902601.80 3Impairment provision (1)Balance at beginning of prior year (2)Increases for the period amount —Provision (3)Decreases for the period amount —Disposal (4)Balance at end of period 111Chongqing Changan Automobile Co. Ltd. 2026 Semi-Annual Report Item Buildings and structures Machinery andequipment Total 4Book value (1)Carrying amount at end of period 336821479.58 9061523.86 345883003.44 (2)Beginning of prior year book value 386673072.95 9932185.90 396605258.85 112Chongqing Changan Automobile Co. Ltd. 2026 Semi-Annual Report 18. Intangible assets 1、 Status of Intangible Assets Item Land use rights Software Trademark rights Non-patented technology Patentedtechnology Total 1．Original carrying amount (1)Balance at beginning of prior year 2447798267.89 982952871.84 2649538294.87 26088185410.01 85581514.70 32254056359.31 (2)Increases for the period amount 144086209.05 115288008.13 6496301.03 4262757258.48 7034008.30 4535661784.99 —Acquisition 13145568.10 6435946.06 19581514.16 —InternalR&D 2936505462.00 2936505462.00 —Exchange rate changes 60354.97 60354.97 —Increase from business combination 144086209.05 102142440.03 1326251796.48 7034008.30 1579514453.86 (3)Decreases for the period amount 677987.91 677987.91 —Disposal —Exchange rate changes 677987.91 677987.91 (4)Balance at end of period 2591884476.94 1097562892.06 2656034595.90 30350942668.49 92615523.00 36789040156.39 2Accumulated amortization (1)Balance at beginning of prior year 489411233.43 835133054.13 926040739.02 12223961561.20 32802297.88 14507348885.66 (2)Increases for the period amount 51137982.90 94071710.65 124304361.89 2481513742.69 11342618.19 2762370416.32 —Provision 26285090.85 33300079.97 124273444.60 1736256969.21 4308609.89 1924424194.52 —Increase from business combination 24852892.05 60771630.68 745256773.48 7034008.30 837915304.51 —Exchange rate changes 30917.29 30917.29 —Free transfer (3)Decreases for the period amount 113Chongqing Changan Automobile Co. Ltd. 2026 Semi-Annual Report Item Land use rights Software Trademark rights Non-patented technology Patentedtechnology Total —Disposal —Exchange rate changes (4)Balance at end of period 540549216.33 929204764.78 1050345100.91 14705475303.89 44144916.07 17269719301.98 3Impairment provision (1)Balance at beginning of prior year 23617923.17 22381216.63 475609566.32 521608706.12 (2)Increases for the period amount 13460620.16 580995023.00 594455643.16 —Increase from business combination 13460620.16 580995023.00 594455643.16 (3)Decreases for the period amount (4)Balance at end of period 37078543.33 22381216.63 1056604589.32 1116064349.28 4Book value (1)Carrying amount at end of period 2051335260.61 131279583.95 1583308278.36 14588862775.28 48470606.93 18403256505.13 (2)Beginning of prior year book value 1958387034.46 124201894.54 1701116339.22 13388614282.49 52779216.82 17225098767.53 2、 Status of land use rights for which property title certificates have not been obtained. As of June 30 2026 the Company holds no land use rights for which the title certificates have not been finalized. 114Chongqing Changan Automobile Co. Ltd. 2026 Semi-Annual Report 19. Goodwill 1、 Changes in Goodwill Increases for the period Decreases for the Name of investee or Balance at period matters forming beginning of Balance at end ofFormed from goodwill prior year periodbusiness Other Disposal Other combination Original carrying amount Nanjing Changan Automobile Co. Ltd. 73465335.00 73465335.00 Hebei Changan Automobile Co. Ltd. 9804394.00 9804394.00 Deepal Automobile Technology Co. Ltd. 1800926049.16 1800926049.16 Jiangling Holding Co.Ltd. 185387879.18 185387879.18 Subtotal 1884195778.16 185387879.18 2069583657.34 Impairment provision Nanjing Changan Automobile Co. Ltd. 73465335.00 73465335.00 Subtotal 73465335.00 73465335.00 Book value 1810730443.16 185387879.18 1996118322.34 20. Long-term deferred expenses Balance at Amortization Item beginning of Increases for the amount for the Other decreases Balance at end of prior year period amount period period Extended warranty 5435297.36 3886104.50 3083295.72 6238106.14 premium Other 11285642.92 4663617.64 1458204.19 14491056.37 Total 16720940.28 8549722.14 4541499.91 20729162.51 21. Deferred tax assets and deferred tax liabilities 1、 Unoffset deferred tax assets Balance at end of period Balance at beginning of prior year Item Deductible temporary differences Deferred tax assets Deductible temporary differences Deferred tax assets Asset impairment provision 2406788004.31 367613630.15 2470368361.82 377963078.08 Accrued expenses and provisions 11350825307.41 1718579999.62 10862131182.01 1645402612.29 Unpaid technology development fees and 192834530.79 28925179.62 26127221.76 3919083.27 advertising expenses Deferred income 2477854092.26 413744650.86 3233350682.85 526405634.13 Unpaid wages bonuses and others 7119354566.37 1098469114.63 6598700635.31 1000772933.93 115Chongqing Changan Automobile Co. Ltd. 2026 Semi-Annual Report Balance at end of period Balance at beginning of prior year Item Deductible temporary Deferred tax assets Deductible temporarydifferences differences Deferred tax assets Changes in fair value of financial assets 4123985.46 1030996.37 4123985.46 1030996.37 Total 23551780486.60 3628363571.25 23194802069.21 3555494338.07 2、 Unoffset deferred tax liabilities Balance at end of period Balance at beginning of prior year Item Taxable temporary Deferred tax Taxable temporary Deferred tax differences liabilities differences liabilities Changes in fair value of financial assets 18219493.88 4554873.47 192090596.72 28813589.51 Non-sameUnder common controlFair value adjustment 7098686172.44 1104485654.71 7156759800.00 1073513970.00 from business combination Long-term equity investments 1635326272.54 245298940.88 1635326272.54 245298940.88 Other 1756825403.32 268646787.51 1868672681.02 282840389.55 Total 10509057342.18 1622986256.57 10852849350.28 1630466889.94 3、 Deferred tax assets or liabilities presented on a net basis after offsetting. End of period Beginning of prior year Item Offset of deferred Deferred after Offset of deferred tax Deferred aftertax assets and offsetIncome tax assets and offsetIncome tax liabilitiesOffset assets or liabilities liabilitiesOffset assets or liabilities Amount balance Amount balance Deferred tax assets 69254096.74 3559109474.51 60023567.50 3495470770.57 Deferred tax liabilities 69254096.74 1553732159.83 60023567.50 1570443322.44 4、 Details of unrecognized deferred tax assets Item Balance at end of period Balance at beginning ofprior year Deductible temporary differences 2220506134.18 1267396960.13 Deductible losses 9411418640.90 9162011203.99 Total 11631924775.08 10429408164.12 5、 The deductible losses of unrecognized deferred tax assets will expire in the following years.Year Balance at end of period Balance at beginning ofprior year Remarks 2026year 33027475.40 33027475.40 2027year 140492322.34 166700752.95 116Chongqing Changan Automobile Co. Ltd. 2026 Semi-Annual Report Year Balance at end of period Balance at beginning ofprior year Remarks 2028year 6539394.87 6539394.87 2029One year and beyond 9231359448.29 8955743580.77 Total 9411418640.90 9162011203.99 22. Other non-current assets Balance at end of period Balance at beginning of prior year Item Book balance Impairmentprovision Book value Book balance Impairment provision Book value Large certificates of deposit 688665712.78 688665712.78 2141246110.90 2141246110.90 and time deposits Advance project 450000000.00 450000000.00 450000000.00 450000000.00 payments Total 1138665712.78 1138665712.78 2591246110.90 2591246110.90 117Chongqing Changan Automobile Co. Ltd. 2026 Semi-Annual Report 23. Assets subject to restrictions on ownership or usage rights. End of period Beginning of prior year Item Book balance Book value Restriction type Restriction status Book balance Book value Restriction type Restriction status Monetary funds 1172965121.02 1172965121.02 Guarantee deposit Guarantee deposit and 1028564112.54 1028564112.54 Guarantee deposit Guarantee depositand other other and other and other Notes receivable 4817604907.45 4817604907.45 Bill pledge Bill pledge 5319644475.35 5319644475.35 Bill pledge Bill pledge Total 5990570028.47 5990570028.47 6348208587.89 6348208587.89 118Chongqing Changan Automobile Co. Ltd. 2026 Semi-Annual Report 24. Short-term borrowings 1、 Classification of Short-term Borrowings Item Balance at end of period Balance at beginning of prioryear Credit loans 43728914.90 512275913.93 Total 43728914.90 512275913.93 Note: As of June 30 2026 the annual interest rate for the aforementioned loan is 2.11%.As of June 30 2026 there were no overdue short-term borrowings. 25. Notes Payable Type Balance at end of period Balance at beginning of prioryear Bank acceptance bills 36691069572.39 43111562471.54 Commercial acceptance bills 923621889.02 867961309.25 Total 37614691461.41 43979523780.79 26. Accounts Payable 1、 Accounts Payable Listing Item Balance at end of period Balance at beginning of prior year Payable for goods 23676006045.62 29841076563.69 Total 23676006045.62 29841076563.69 Note: As of June 30 2026 there were no significant accounts payable with an aging period exceeding one year. 27. Deferred revenue 1、 Presentation of advance receipts Item Balance at end of period Balance at beginning of prior year Advance rent received 408273.22 408273.22 Advance receipts 44371970.84 Total 44780244.06 408273.22 28. Contract liabilities 1、 Status of Contract Liabilities Item Balance at end of period Balance at beginning of prioryear Advance receipts 6801256558.23 5356608912.37 Advance service fees received 1617519396.46 1552000145.85 Total 8418775954.69 6908609058.22 29. Employee benefits payable 1、 Presentation of Employee Benefits Payable Item Balance at beginning Increases for the Decreases for the Balance at end ofof prior year period period period 119Chongqing Changan Automobile Co. Ltd. 2026 Semi-Annual Report Item Balance at beginning Increases for the Decreases for the Balance at end ofof prior year period period period Short-term employee benefits 4118868610.11 4937831170.48 7218947422.61 1837752357.98 Post-employment benefits-Defined 87410871.40 624134329.68 603445452.77 108099748.31 contribution plan Termination benefits 31221863.05 11676441.15 33170686.82 9727617.38 Total 4237501344.56 5573641941.31 7855563562.20 1955579723.67 2、 Disclosure of short-term employee benefits Balance at Item beginning of prior Increases for the Decreases for the Balance at end of year period period period (1) Wages bonuses allowances and subsidies 3565693052.95 3861830096.99 6021247178.94 1406275971.00 (2) Employee welfare expenses 7737046.84 156633299.39 153607657.37 10762688.86 (3) Social insurance fees 49041643.82 405474102.28 396308120.82 58207625.28 Including: medical insurance 21260074.54 365291522.25 354979492.85 31572103.94 Work injury insurance fees 10576951.05 38933616.62 38316837.00 11193730.67 Maternity insurance fees 2033719.20 749727.96 2656300.62 127146.54 Other 15170899.03 499235.45 355490.35 15314644.13 (4) Housing provident fund 88999656.96 466150520.02 492484974.90 62665202.08 (5) Labor union fees and employee education expenses 407397209.54 47743151.80 155299490.58 299840870.76 Total 4118868610.11 4937831170.48 7218947422.61 1837752357.98 3、 Disclosure of defined contribution plans Balance at Item beginning of prior Increases for the Decreases for the Balance at end of year period period period Basic pension insurance 77911926.05 604277027.02 584862551.25 97326401.82 Unemployment insurance fees 9498945.35 19857302.66 18582901.52 10773346.49 Total 87410871.40 624134329.68 603445452.77 108099748.31 30. Taxes payable Tax items Balance at end of period Balance at beginning of prior year Value-added tax 102622190.54 384399469.16 Corporate income tax 135764770.65 229680979.77 Consumption tax 165526318.75 86908290.34 Urban maintenance and construction tax and education surcharge 18020471.90 60392301.66 Other 58503157.47 91612765.90 120Chongqing Changan Automobile Co. Ltd. 2026 Semi-Annual Report Tax items Balance at end of period Balance at beginning of prior year Total 480436909.31 852993806.83 31. Other payables Item Balance at end of period Balance at beginning of prioryear Dividends payable 1138608888.49 Other payables 6133178223.55 5871006412.33 Total 7271787112.04 5871006412.33 1、 Dividends Payable Item Closing balance Balance at the end of theprevious year Common stock dividends 1138608888.49 Total 1138608888.49 2、 Other payables (1) Presented by nature of payment Item Balance at end of period Balance at beginning ofprior year Payments for fixed assets intangible assets and project deposits 1223075135.56 1859466071.62 Customer and supplier deposits 492436081.95 583101361.16 Warehousing and transportation expenses 729407167.24 667558777.74 Advertising expenses 661170301.45 599206406.43 Repair and processing expenses 597602340.49 349430390.33 Treasury share repurchase obligation 3395829.33 Other 2429487196.86 1808847575.72 Total 6133178223.55 5871006412.33 32. Non-current liabilities due within one year Item Balance at end of period Balance at beginning of prior year Long-term borrowings due within one year 36000000.00 Defined benefit plan due within one year 348363.00 789000.00 Entrusted loans due within one year 500388888.89 500427777.78 Lease liabilities due within one year 187310267.79 161478036.89 Provisions due within one year 474500.00 Total 688522019.68 698694814.67 33. Other current liabilities Item Balance at end of period Balance at beginning of prior year 121Chongqing Changan Automobile Co. Ltd. 2026 Semi-Annual Report Item Balance at end of period Balance at beginning of prior year Commercial discounts to be returned accrued 6901584485.76 7580250063.83 Accrued market development expenses 1387174523.24 1610436757.73 Accrued technology transfer and development expenses 1363924661.78 1661847691.70 Accrued transportation expenses 1169178818.11 1134888892.69 To beTurn output tax 1083254951.00 938930344.49 Accrued negative fuel consumption credit expenses 54645400.70 54645400.70 Accrued maintenance expenses 119045765.07 60784887.39 Other 729796707.98 115591505.11 Total 12808605313.64 13157375543.64 34. Long-term borrowings Item Balance at end of period Balance at beginning of prior year Credit loans 41502388.14 Total 41502388.14 35. Bonds payable 1、 Details of Bonds Payable Item Balance at end of period Balance at beginning of prior year Corporate bonds 999852830.16 999803773.56 Total 999852830.16 999803773.56 122Chongqing Changan Automobile Co. Ltd. 2026 Semi-Annual Report 2、 Changes in bonds payable (excluding other financial instruments classified as financial liabilities such as preferred shares and perpetual bonds).Issued Bond Face value Coupon Issue date Bond Balance at Interest Issue amount beginning of for accrued at PremiumDiscount Repaid for Balance at end Whether name rate term prior year the face value amortization the period of period in period default Science and technology innovation 1000000000.00 3.00% 2022/12/20 5year 1000000000.00 999803773.56 15000000.00 49056.60 999852830.16 No corporate bondsBond Total 1000000000.00 1000000000.00 999803773.56 15000000.00 49056.60 999852830.16 123Chongqing Changan Automobile Co. Ltd. 2026 Semi-Annual Report 36. Lease liabilities Item Balance at end of period Balance at beginning of prioryear Lease liabilities 406601034.99 460625265.61 Less: reclassified to non-current liabilities due within one year 187310267.79 161478036.89 Total 219290767.20 299147228.72 37. Long-term payables Item Balance at end of period Balance at beginning of prior year Long-term payables 2066174873.12 2053422868.05 Special payables 554210741.19 491064477.16 Total 2620385614.31 2544487345.21 1、 Long-term payables Item Balance at end of period Balance at beginning of prior year Payable project payments 2066174873.12 2053422868.05 Total 2066174873.12 2053422868.05 2、 Special Payables Balance at Item beginning of prior Increases for the Decreases for the Balance at end of Formation year period period period reason Smart manufacturing 411476467.65 114321443.97 74098708.47 451699203.15 special project Automobile structural lightweight 2745046.71 290800.00 18730.70 3017116.01 design Other 76842962.80 48743500.00 26092040.77 99494422.03 Total 491064477.16 163355743.97 100209479.94 554210741.19 38. Long-term employee benefits payable Item Balance at end of period Balance at beginning of prioryear I. Post-employment benefits-Net liability of defined benefit plan 19428315.85 22116000.00 II. Termination benefits 2381830.57 2463373.29 Total 21810146.42 24579373.29 39. Provision for liabilities Item Balance at beginning Increases for the Decreases for the Balance at end of Formationof prior year period period period reason 124Chongqing Changan Automobile Co. Ltd. 2026 Semi-Annual Report Product quality 7911705600.64 1437325901.57 1221192617.15 8127838885.06 warranty Estimated liability for contract 233048956.29 15465012.76 6844842.85 241669126.20 performance costs Total 8144754556.93 1452790914.33 1228037460.00 8369508011.26 40. Deferred income Balance at Item beginning of prior Increases for the Decreases for the Balance at end of year period period period Government subsidies related to assets 52133744.00 7567346.16 7567346.16 52133744.00 Including: production and construction subsidies 52133744.00 7567346.16 7567346.16 52133744.00 Government subsidies related to income 28565648.58 20465994.60 16199050.51 32832592.67 Including: R&D technology subsidies 15422087.76 15422087.76 Other government subsidies 28565648.58 5043906.84 16199050.51 17410504.91 Total 80699392.58 28033340.76 23766396.67 84966336.67 41. Other non-current liabilities Item Balance at end of period Balance at beginning of prioryear Advance receiptsService fees 1076573398.85 1252965662.48 Entrusted loans from China South Industries Group Finance Co. Ltd.Total 1076573398.85 1252965662.48 42. Share capital Increase in changes for the period (+) Less (-) Balance at Issue Item beginning of prior Balance at end ofof Bonus Capitalization year periodnew shares of reserve Other Subtotal shares Total shares 9914086060.00 -1180512.00 -1180512.00 9912905548.00 43. Capital Reserve Item Balance at beginning Increases for the Decreases for the Balance at end ofof prior year period period period Share premium 7440685530.59 2230590.41 7438454940.18 Other capital reserve 1540023199.43 332817054.49 1207206144.94 Total 8980708730.02 335047644.90 8645661085.12 125Chongqing Changan Automobile Co. Ltd. 2026 Semi-Annual Report 44. Treasury stock Balance at Item beginning of prior Increases for the Decreases for the Balance at end of year period period period Treasury shares 3395829.33 790291729.28 3395829.33 790291729.28 Total 3395829.33 790291729.28 3395829.33 790291729.28 126Chongqing Changan Automobile Co. Ltd. 2026 Semi-Annual Report 45. Other Comprehensive Income Amount for the period Less: Balance at previously Net profit after Less: other Item beginning of Amount incurred recognized inother Less: income Net profit after tax tax attributable comprehensive Balance at end prior year before income tax attributable to the to income of period for the period comprehensive tax expense transferred toincome and Company non-controlling transferred to interests retained earnings profit or loss 1Other comprehensive income that cannot be reclassified to profit or loss 153543805.13 153543805.13 Including: remeasurement of defined benefit plan changes -1746000.00 -1746000.00 Other comprehensive income not reclassifiable to profit or loss under equity -4894212.99 -4894212.99 method Changes in fair value of other equity instrument investments 160184018.12 160184018.12 2Other comprehensive income that will be reclassified to profit or loss -288340288.35 107974903.91 107974903.91 -180365384.44 Including: other comprehensive income reclassifiable to profit or loss under equity -4024764.80 -17971991.02 -17971991.02 -21996755.82 method Foreign currency financial statement translation difference -284315523.55 125946894.93 125946894.93 -158368628.62 Total other comprehensive income -134796483.22 107974903.91 107974903.91 -26821579.31 127Chongqing Changan Automobile Co. Ltd. 2026 Semi-Annual Report 46. Special reserves Item Balance at beginning Increases for the Decreases for the Balance at end ofof prior year period period period Safety production expenses 119363825.70 54912184.73 17849004.58 156427005.85 Total 119363825.70 54912184.73 17849004.58 156427005.85 47. Surplus reserve Item Balance at beginning Increases for the Decreases for the Balance at end ofof prior year period period period Statutory surplus reserve 4957043030.00 4957043030.00 Total 4957043030.00 4957043030.00 48. Undistributed profits Item Amount for the period Amount for the prior period Undistributed profit at beginning of prior year before adjustment 53503168524.85 52846021500.43 Adjustment to undistributed profit at beginning of year (increase+ less -) Undistributed profit at beginning of year after adjustment 53503168524.85 52846021500.43 Add: net profit attributable to owners of the Company for the period 817395511.85 2291211254.67 Less: appropriation of statutory surplus reserve Dividends payable on ordinary shares 1138608888.49 2922564952.82 Ordinary dividends converted to share capital Undistributed profit at end of period 53181955148.21 52214667802.28 49. Operating revenue and operating costs 1、 Status of operating revenue and operating costs Amount for the period Amount for the prior period Item Received in Become current Received in Become current Main business 63397851124.11 54187871670.24 71122847357.43 60912862171.69 Other business 2236478618.05 1929228391.91 1568463029.65 1180783111.72 Total 65634329742.16 56117100062.15 72691310387.08 62093645283.41 50. Taxes and Surcharges Item Amount for the period Amount for the prior period Consumption tax 714835429.08 1276202420.19 Urban maintenance and construction tax 111062596.93 130139031.26 128Chongqing Changan Automobile Co. Ltd. 2026 Semi-Annual Report Item Amount for the period Amount for the prior period Education surcharge 76132384.30 85167936.91 Other 164822595.99 176523613.45 Total 1066853006.30 1668033001.81 51. Selling expenses Item Amount for the period Amount for the prior period Sales service fees 1614115027.21 2118239084.30 Promotion and advertising expenses 1047977187.34 1264934309.87 Wages and welfare 512626370.78 552762577.77 Transportation and warehousing expenses 296301440.08 138303558.30 Packaging expenses 194278447.41 85306559.18 Travel expenses 83411172.15 86385379.90 Other 112265503.53 115560997.91 Total 3860975148.50 4361492467.23 52. Administrative expenses Item Amount for the period Amount for the prior period Wages and welfare 973579131.53 1594776663.07 Depreciation and amortization 289007889.97 290646828.51 Transportation and travel expenses 31807352.78 35404797.95 Share-based payment 15696797.33 Other 339113026.39 291488235.10 Total 1633507400.67 2228013321.96 53. R&D expenses Item Amount for the period Amount for the prior period Wages and welfare 1034385315.80 1388750537.27 Depreciation and amortization 1899065895.95 1574340689.76 Outsourcing fees 79961733.21 117404910.95 Material costs 77120303.72 116601795.35 Testing expenses 15452511.52 26465429.21 Other 48748144.26 60093920.94 Total 3154733904.46 3283657283.48 54. Financial expenses Item Amount for the period Amount for the prior period Interest expense 54665257.01 38065837.11 129Chongqing Changan Automobile Co. Ltd. 2026 Semi-Annual Report Item Amount for the period Amount for the prior period Less: interest income 256185892.36 657365732.49 Exchange gains and losses 230077293.58 -1355964767.53 Other 40574037.32 18327382.57 Total 69130695.55 -1956937280.34 55. Other income Item Amount for the period Amount for the prior period Government subsidies related to daily activities Including: industry support subsidies 256455586.10 235203148.24 Other government subsidies 412153469.44 770933495.39 Total 668609055.54 1006136643.63 56. Investment returns Item Amount for the period Amount for the priorperiod Investment income from long-term equity investments accounted for using equity method -89741790.27 55363593.69 Non-sameUnder common controlInvestment income from business combination 161016229.92 Investment income during the holding period of financial assets held for trading 1353199.70 Investment income from disposal of financial assets held for trading -224378.10 Dividend income from other equity instrument investments during holding period 15041910.38 12692880.00 Time deposit interest and others 102893016.84 45614275.62 Total 188984988.77 115023949.01 57. Gains from changes in fair value Sources of fair value change gains Amount for the period Amount for the priorperiod Financial assets held for trading 49558887.98 6513157.75 Financial liabilities held for trading -9148442.85 Total 40410445.13 6513157.75 58. Credit impairment losses Item Amount for the period Amount for the prior period Bad debt loss on accounts receivable -7353459.20 3634178.78 Bad debt loss on other receivables 344155.44 -362762.72 130Chongqing Changan Automobile Co. Ltd. 2026 Semi-Annual Report Item Amount for the period Amount for the prior period Total -7009303.76 3271416.06 59. Impairment loss on assets Item Amount for the period Amount for the prior period Inventory falling loss and contract cost impairment loss 467733212.04 59083960.97 Fixed asset impairment loss 1754934.64 53148.85 Contract asset impairment loss -6352386.00 -10043931.00 Intangible asset impairment loss Total 463135760.68 49093178.82 60. Gain on disposal of assets Item Amount for the period Amount for the prior Amount included in period non-recurring profit and lossfor the current period Gain on disposal of fixed assets 58797846.55 16996024.14 58797846.55 Gain on disposal of intangible assets 16374329.83 9441.56 16374329.83 Total 75172176.38 17005465.70 75172176.38 61. Non-operating income Amount included in Item Amount for the period Amount for the prior non-recurring profit andperiod loss for the current period Penalty income and others 45557329.01 90081260.28 45557329.01 Total 45557329.01 90081260.28 45557329.01 62. Non-operating expenses Amount included in Item Amount for the period Amount for the prior non-recurring profit andperiod loss for the current period External donations 14600000.00 Fines and late payment surcharges 3818439.58 1630770.51 3818439.58 Compensation expenses 20295098.13 20295098.13 Other 11620359.22 10600642.48 11620359.22 Total 35733896.93 26831412.99 35733896.93 63. Income tax expense 1、 Statement of Income Tax Expense Item Amount for the period Amount for the prior period Current income tax expense 215410957.32 587548701.70 131Chongqing Changan Automobile Co. Ltd. 2026 Semi-Annual Report Item Amount for the period Amount for the prior period Deferred income tax expense -137222059.43 -211231814.94 Total 78188897.89 376316886.76 2、 Adjustment process for reconciling accounting profit with income tax expense. Item Amount for the period Total profit 258903165.51 By statutory[Or applicable]Income tax expense calculated at tax rate 38835474.83 Effect of different tax rates applicable to subsidiaries 1117051.10 Effect of adjustments to income tax of prior periods -16979.93 Effect of non-taxable income -179209672.41 Effect of non-deductible costs expenses and losses -1238.68 Effect of utilizing previously unrecognized deferred tax assets for deductible losses -34554491.27 Not for the periodEffect of recognizing deferred tax assets for deductible temporary differences or deductible losses 395410171.35 Effect of additional tax deductions such as super deduction -143391417.10 Income tax expense 78188897.89 64. Cash Flow Statement Items 1、 Cash flows from operating activities (1) Other cash received related to operating activities Item Amount for the period Amount for the prior period Interest income 256185892.36 657365732.49 Government subsidies 645078390.67 1088661008.79 Other 246646188.27 98233980.20 Total 1147910471.30 1844260721.48 (2) Other cash paid related to operating activities Item Amount for the period Amount for the prior period Selling expenses 3348348777.72 2643015184.51 Administrative expenses 370920379.17 890965941.36 R&D expenses 1788074801.89 1800991507.70 Other 1939424016.99 1166123768.26 Total 7446767975.77 6501096401.83 2、 Cash flows related to investment activities (1) Other cash received related to investing activities Item Amount for the period Amount for the prior period Time deposits and others 1137033698.63 50975988.18 Non-sameUnder common controlConsolidation 537828162.89 Total 1674861861.52 50975988.18 132Chongqing Changan Automobile Co. Ltd. 2026 Semi-Annual Report (2) Cash paid for other items related to investing activities Item Amount for the period Amount for the prior period Certificates of deposit and large certificates of deposit 1825000000.00 Other 771500.00 Total 1825771500.00 3、 Cash flows related to financing activities (1) Cash received from other activities related to financing Item Amount for the period Amount for the prior period Recovery of acceptance bill margin 322309837.79 280715982.94 Total 322309837.79 280715982.94 (2) Other cash paid related to financing activities Item Amount for the period Amount for the prior period Repurchase shares 790291729.28 Acceptance bill margin paid 2985639.75 Other 30344579.97 50184574.37 Total 820636309.25 53170214.12 65. Supplementary information to the statement of cash flows 1、 Supplementary information to the statement of cash flows Supplementary information Amount for the period Amount for the priorperiod 1I. Reconciliation of net profit to net cash from operating activities Net profit 180714267.62 1792653891.27 Add: credit impairment loss -7009303.76 3271416.06 Asset impairment loss 463135760.68 49093178.82 Depreciation of fixed assets 1370517340.47 1436203796.01 Depreciation and amortization of investment property 113355.78 113355.78 Depreciation of right-of-use assets 71116061.92 53830380.91 Amortization of intangible assets 1924424194.52 1584999678.88 Amortization of long-term deferred expenses 4541499.91 5152847.21 Loss on disposal of fixed assets intangible assets and other long-term assets (gain of“ ”(entered by number) 75172176.38 -17005465.70－ Fixed asset disposal loss (gain of“－”(entered by number) Fair value change loss (gain of“－”(entered by number) -40410445.13 -6513157.75 Financial expenses (gain of“－”(entered by number) 54665257.01 38065837.11 Investment loss (gain of“－”(entered by number) -188984988.77 -115023949.01 Decrease in deferred tax assets (increase of“－ ”(entered by number) -72869233.18 -84242353.04 133Chongqing Changan Automobile Co. Ltd. 2026 Semi-Annual Report Supplementary information Amount for the period Amount for the priorperiod Increase in deferred tax liabilities (decrease of“－”(entered by number) -64352826.25 -126989461.90 Decrease in inventories (increase of“－”(entered by number) -954255346.61 131247271.53 Decrease in operating receivables (increase of“－”(entered by number) 3359152057.08 18763979020.76 Increase in operating payables (decrease of“－ ”(entered by number) -17438777743.28 -32126023975.32 Other 9990898.11 Net cash from operating activities -11413452268.37 -8607196790.27 2Significant investing and financing activities not involving cash Debt converted to capital Convertible corporate bonds due within one yearBond Right-of-use assets acquired by assuming lease liabilities 3Net changes in cash and cash equivalents Cash balance at end of period 38478869595.83 52185989975.49 Less: cash at beginning of period 52993171152.75 63274376513.00 Add: cash equivalents at end of period Less: cash equivalents at beginning of period Net increase in cash and cash equivalents -14514301556.92 -11088386537.51 2、 Composition of Cash and Cash Equivalents Item Balance at end of period Balance at beginning ofprior year I. Cash 38478869595.83 52185989975.49 Including: cash on hand 37315.38 6818.27 Digital currency available for payment at any time Bank deposits available for payment at any time 37202498507.08 52181249531.26 Other monetary funds available for payment at any time 1276333773.37 4733625.96 Deposits with central bank available for payment II. Cash equivalents Including: bond investments maturing within three months III. Balance of cash and cash equivalents at end of period 38478869595.83 52185989975.49 Of which: cash and cash equivalents held but not available for use by the parent or other subsidiaries 66. Foreign currency monetary items 1、 Foreign currency monetary items Item Foreign currency balance at Exchange rate Translated RMB balance atend of period end of period Monetary funds 3756415902.69 Of which:USD 54109777.98 6.8109 368500362.11 EUR 88361383.44 7.7671 686311701.32 134Chongqing Changan Automobile Co. Ltd. 2026 Semi-Annual Report Item Foreign currency balance atend of period Exchange rate Translated RMB balance at end of period GBP 13872159.98 9.0145 124893017.14 DiLaMu 2274899.97 1.8511 4211067.33 Thai Baht 6189244766.47 0.2042 1263843781.31 RUB 13215239746.81 0.0883 1166465690.45 JPY 305235381.00 0.0420 12819886.00 Peso 331990312.87 0.3897 129370397.03 Accounts receivable 3995665785.29 Of which:USD 182668337.21 6.8109 1244118734.86 EUR 83759449.90 7.7671 650568023.32 JPY 15277775.00 0.0420 641666.55 GBP 2502498.22 9.0145 22558770.20 Peso 2516456758.96 0.3897 980663187.62 Thai Baht 5372749278.83 0.2042 1097115402.74 Other receivables 215252048.86 Of which:EUR 13330454.37 7.7671 103538972.14 USD 1723597.87 6.8109 11717370.07 JPY 17408320.00 0.0420 731149.44 Thai Baht 485447035.30 0.2042 99128284.61 DiLaMu 249390.45 1.8511 461646.66 Accounts payable 3119822800.85 Of which:EUR 19552268.65 7.7671 151864425.83 USD 8087804.78 6.8109 54982514.44 RUB 3083738463.62 0.0883 272191438.45 Thai Baht 6439903206.67 0.2042 1315028234.80 Peso 3401800751.35 0.3897 1325681752.80 DiLaMu 40210.97 1.8511 74434.53 Other payables 235874561.07 Of which:EUR 19552268.65 7.7671 151864425.83 USD 40781.00 6.8109 277755.31 Thai Baht 382583847.53 0.2042 78123621.67 Peso 14392502.59 0.3897 5608758.26 67. Leasing 1、 As a lessee Item Amount for the period Interest expense on lease liabilities 9241094.89 Short-term lease expenses under simplified treatment recognized in related asset cost or current profit or loss 2466808.57 Low-value asset lease expenses under simplified treatment recognized in related asset cost or current profit or loss (excluding short-term leases of low-value assets) 144260.79 Total cash outflows related to leases 50636030.23 135Chongqing Changan Automobile Co. Ltd. 2026 Semi-Annual Report 2、 As the lessor (1) Operating lease Amount for the period Operating lease income 26857765.23 Including: not included inLease incomeVariable lease paymentsAmount relatedIncome of The undiscounted lease payments to be received after the reporting date are as follows: Remaining lease term Amount for the period 1Within one year 41044845.17 1to2year 41847872.55 2to3year 42356903.68 3to4year 42871353.68 4to5year 43711791.18 5years and above 88168225.56 Total 300000991.82 VIII. Research and Development Expenditure 1. R&D expenditure Item Amount for the period Amount for the prior period Employee compensation 1726286589.33 2006653693.63 Depreciation and amortization 1899264901.11 1577241265.67 Outsourcing fees 1127192933.57 1046430730.38 Material costs 144581876.69 175556508.08 Testing expenses 173656767.68 226711925.50 Other expenses 35450948.27 371287417.75 Total 5106434016.65 5403881541.01 Including: expensed R&D expenditure 3154733904.46 3283657283.48 Capitalized R&D expenditure 1951700112.19 2120224257.53 2. Development expenditures Increases for the period Decreases for the period amount Balance at amount Item beginning of Balance at end ofInternal prior year perioddevelopment Other Recognized as Other expenditure intangible assets Automobile development 3395674763.46 1951700112.19 - 2936505462.00 2239702.07 2408629711.58 Subtotal 3395674763.46 1951700112.19 - 2936505462.00 2239702.07 2408629711.58 Less: 136Chongqing Changan Automobile Co. Ltd. 2026 Semi-Annual Report Increases for the period Decreases for the period amount Balance at amount Item beginning of Balance at end ofInternal prior year development Other Recognized as period Other expenditure intangible assets impairment provision Total 3395674763.46 1951700112.19 - 2936505462.00 2239702.07 2408629711.58 IX. Changes in the Scope of Consolidation (I) Business combinations not under common control 1. Details of business combinations not under common control that occurred in this reporting period.The point Methods Name of the Purchased in time of Cost of Equity of Date of Criteria for Party equity acquiring Acquisition Acquiring determining the acquisition. equity Ratio (%) Equity Purchase acquisition date.Interests Jiangling Holdings Co.Ltd. 2026/5/31 1.00 25.00 Purchase 2026/5/31 Gain control (Continued) Revenue of the Net profit of the acquired Cash flows of the acquired Name of the Purchased acquired entity from party from the acquisition entity from the acquisition Party the acquisition date to date to the end of the date to the end of the the end of the period. period. reporting period.Jiangling Holdings Co.Ltd. 1243409971.58 9557257.44 18996599.62 2. Combination Cost and Goodwill Jiangling Holdings Co. Ltd.Merger cost — Cash 1.00 The fair value of the equity interest held prior to the acquisition date as of the acquisition date. -171800824.57 —Others -38631295.75 Total merger cost -210432119.32 Less: Share of the fair value of identifiable net assets acquired -395819998.50 The amount by which the goodwill or the cost of the business combination is less than the acquirer's share of the fair value of the 185387879.18 acquiree's identifiable net assets. 3. Identifiable assets and liabilities of the acquiree as of the acquisition date. Jiangling Holdings Co. Ltd.Fair value on the date Book value on the date of purchase of purchase Assets: 2821320315.34 2507888720.42 Inventory 101893997.40 83499912.85 Fixed assets 781071231.00 550003969.51 Construction in progress 6650643.33 6770556.02 Intangible assets 147143506.19 83053344.62 137Chongqing Changan Automobile Co. Ltd. 2026 Semi-Annual Report Jiangling Holdings Co. Ltd.Fair value on the date Book value on the date of purchase of purchase Liabilities: 3508523613.61 3612838813.61 Total Current Liabilities 3487028019.12 3487028019.12 Total non-current liabilities 21495594.49 125810794.49 Net Assets -687203298.27 -1104950093.19 X. Interests in Other Entities 1. Equity interest in a subsidiary 1、 Composition of a corporate group Name of Registered Principal Shareholding subsidiary capital (RMB place of Place of Nature of ratio(%) Method of 10000) business registration business acquisitionDirect Indirect Chongqing Changan Automobile Chongqing Chongqing International 142275.64 Municipality Municipality Sales 100.00 Establish Sales Service Co.Ltd.Chongqing Changan Vehicle Connectivity 8850.00 Chongqing Chongqing Technology Co. Municipality Municipality Lease 100.00 Establish Ltd.Chongqing Changan Special 2000.00 Chongqing ChongqingPurpose Vehicle Municipality Municipality Sales 50.00 Establish Co. Ltd.Chongqing Changan Automobile 3000.00 Chongqing Chongqing Customer Service Municipality Municipality Sales 99.00 1.00 Establish Co. Ltd.Chongqing Zhilaidao New 2900.00 Chongqing ChongqingMunicipality Municipality R&D 100.00 EstablishEnergy Co. Ltd.Changan Europe Design Center EUR2623.56 Turin Italy Turin Italy R&D 100.00 Establish Co. Ltd.Changan Automobile UK Birmingham Birmingham R&D Center Co. GBP2639 UK UK R&D 100.00 Establish Ltd.Beijing Changan Automobile Engineering Beijing Beijing Technology 100.00 Municipality Municipality R&D 100.00 Establish Research Co.Ltd.Changan Japan Design Center JPY1000 Yokohama Yokohama R&D 100.00 Establish Co. Ltd. Japan Japan 138Chongqing Changan Automobile Co. Ltd. 2026 Semi-Annual Report Name of Registered Principal Shareholding subsidiary capital (RMB place of Place of Nature of ratio(%) Method of 10000) business registration business acquisitionDirect Indirect Changan America R&D Center Co. USD154 Novi USA Novi USA R&D 100.00 Establish Ltd.Changan Automobile Investment 134451.35 Shenzhen Shenzhen Sales 100.00 Establish (Shenzhen) Co.Ltd.Nanjing Changan New Energy Automobile Sales 5000.00 Nanjing Nanjing Municipality Municipality Sales 100.00 Establish Service Co. Ltd.Chong'anPost stationAutomobile 200.00 Chongqing ChongqingTechnology Municipality Municipality Sales 100.00 Establish Service Co. Ltd.Xiamen Changan New Energy Automobile Sales 200.00 Xiamen Xiamen Sales 100.00 Establish Service Co. Ltd.Shanghai Changan Zhixing Technology Co. 400.00 Shanghai Shanghai Sales 100.00 Establish Ltd.Chongqing Chehemei 1000.00 Chongqing ChongqingTechnology Co. Municipality Municipality Sales 100.00 Establish Ltd.Chongqing Changan Kaicheng Automobile 142371.45 Chongqing Chongqing Municipality Municipality Sales 65.90 Establish Technology Co.Ltd.Chongqing Changan Automobile 9900.00 Chongqing ChongqingSoftware Municipality Municipality R&D 100.00 Establish Technology Co.Ltd.Chongqing Xingzhi Technology Co. 4900.00 Chongqing Chongqing Municipality Municipality Sales 100.00 Establish Ltd.Chongqing Changan Chongqing Chongqing Technology Co. 9000.00 Municipality Municipality R&D 100.00 Establish Ltd.Chongqing Changan Xing Chongqing Chongqing Automobile Co. 2000.00 Municipality Municipality Lease 100.00 Establish Ltd.Non-sameUnder Nanjing Changan Automobile Co. 60181.00 Nanjing Nanjing common Municipality Municipality Manufacturing 84.73 controlUnderLtd. business combination Chongqing Chongqing Chongqing Non-sameUnder Lingyao 133764.00 Municipality Municipality Manufacturing 100.00 common Automobile Co. controlUnder 139Chongqing Changan Automobile Co. Ltd. 2026 Semi-Annual Report Registered Principal ShareholdingName of subsidiary capital (RMB place of Place of Nature of ratio(%) Method of 10000) business registration business acquisitionDirect Indirect Ltd. business combination Deepal Non-sameUnder Automobile 46615.71 Chongqing Chongqing common Technology Co. Municipality Municipality Manufacturing 51.00 controlUnder Ltd. businesscombination SameUnder Hefei Changan common Automobile Co. 227500.00 Hefei Hefei Manufacturing 100.00 controlUnder Ltd. business combination Changan Tianshu Intelligent Robot 45000.00 Chongqing Chongqing(Chongqing) Co. Municipality Municipality Manufacturing 50.00 10.00 Establish Ltd.Changan Automobile Nanchang Nanchang Nanchang (Sales) 1000.00 Municipality Municipality Sales 100.00 Establish Co. Ltd.Non-sameUnder Jiangling Holding 200000.00 Nanchang Nanchang common Co. Ltd. Municipality Municipality Manufacturing 50.00 controlUnderbusiness combination 140Chongqing Changan Automobile Co. Ltd. 2026 Semi-Annual Report 2. Interests in joint arrangements or associates 1、 Significant joint ventures or associates. Principal place of Place of Shareholding ratio(%) Accounting method forName of joint venture or associate business registration Nature of business investments in joint Whether strategic to the Direct Indirect ventures or associates Company's activities Changan Ford Automobile Co. Ltd. Chongqing Chongqing AutomobileMunicipality Municipality manufacturing and sales 50.00 Equity method Yes 141Chongqing Changan Automobile Co. Ltd. 2026 Semi-Annual Report 2、 Key financial information of significant joint ventures Changan Ford Automobile Co. Ltd.Item Balance at end of Balance at beginning of prior period/Amount for the period year/Amount for the prior period Current assets 10971039653.97 13229796476.83 Of which: cash and cash equivalents 4444822084.26 6580969694.88 Non-current assets 9201885174.11 9799477103.13 Total assets 20172924828.08 23029273579.96 Current liabilities 10859833172.67 17164149707.34 Non-current liabilities 6424234089.46 3244020964.12 Total liabilities 17284067262.13 20408170671.46 Non-controlling interests 153845639.03 153148103.41 Equity attributable to shareholders of the parent company 2735011926.92 2467954805.09 Share of net assets calculated by shareholding ratio 1367505963.46 1233977402.55 Adjustment items -59239541.44 -56409324.36 Carrying amount of investment in joint ventures 1308266422.02 1177568078.19 Fair value of joint venture equity investments with quoted price Net profit 261332897.29 753237410.89 Net profit from discontinued operations Other comprehensive income Total comprehensive income 261332897.29 753237410.89 Dividends received from joint ventures for the period 3、 Aggregated financial information of immaterial joint ventures and associates. Balance at end of period/Amount Balance at beginning of prior for the period year/Amount for the prior period Joint ventures: Total carrying amount of investments 4258172506.27 4110478645.75 Total amount calculated by shareholding ratio for each of the following —Net profit 147693860.52 143148726.50 —OtherComprehensive income -2386300.06 —Total comprehensive income 147693860.52 140762426.44 Associates: Total carrying amount of investments 14983407905.79 11452335506.12 Total amount calculated by shareholding ratio for each of the following —Net profit -373512752.20 232595890.30 —OtherComprehensive income -17971991.02 1505344.19 142Chongqing Changan Automobile Co. Ltd. 2026 Semi-Annual Report Balance at end of period/Amount Balance at beginning of prior for the period year/Amount for the prior period —Total comprehensive income -391484743.22 234101234.49 XI. Government Grants 1. Government grants recognized in the current period's profit or loss Type Amount for the period Amount for the prior period Government subsidies related to assets 119566726.81 137869400.15 Government subsidies related to income 678168564.14 1441951363.44 Total 797735290.95 1579820763.59 143Chongqing Changan Automobile Co. Ltd. 2026 Semi-Annual Report 2. Liability items involving government grants. Balance at New subsidies Amount recognized Amount offset Amount offset Liability items beginning of prior received for the in non-operating Related to income for the against related against costs and Balance at end of year period assets for the period expenses for the Other changes period assets/Related to period period income Deferred income 52133744.00 7567346.16 7567346.16 52133744.00 Related to assets Deferred income 28565648.58 20465994.60 16199050.51 32832592.67 Related to income 144Chongqing Changan Automobile Co. Ltd. 2026 Semi-Annual Report XII. Risks Related to Financial Instruments 1. Various risks arising from financial instruments. The Company faces various financial risks in its operations including credit risk liquidity risk and market risk (which encompasses exchange rate risk interest rate risk and other price risks). The aforementioned financial risks and the risk management policies adopted by the Company to mitigate such risks are described as follows: The overarching objective of our company's risk management is to formulate risk management policies that minimize risk as much as possible without unduly compromising the company's competitiveness and adaptability. 1、 Credit risk Credit risk refers to the risk of financial loss incurred by the Company due to the counterparty's failure to fulfill its contractual obligations.The Company's credit risk primarily arises from cash and cash equivalents notes receivable accounts receivable receivables for financing other receivables and debt instrument investments measured at fair value through profit or loss that are excluded from the impairment assessment scope.The Company's monetary funds primarily consist of bank deposits held in state-owned banks and other large and medium-sized listed banks with reputable standing and high credit ratings; the Company considers that these deposits do not entail significant credit risk and are unlikely to result in material losses due to bank defaults.Furthermore the Company has established relevant policies to control credit risk exposure for items such as notes receivable accounts receivable receivables from financing contract assets and other receivables. The Company assesses customers' creditworthiness and establishes corresponding credit periods based on an evaluation of their financial status the feasibility of obtaining guarantees from third parties credit history and other factors such as current market conditions. The Company regularly monitors customer credit records; for customers with poor credit history the Company employs measures such as written collection notices shortening credit periods or revoking credit privileges to ensure that the Company's overall credit risk remains within a controllable range. 2、 Liquidity risk Liquidity risk refers to the risk that an enterprise faces a shortage of funds when fulfilling obligations settled by delivering cash or other financial assets.The Company's policy is to ensure sufficient cash to repay maturing debts.Liquidity risk is centrally controlled by the Company's Finance Department. The finance department ensures that the company maintains sufficient liquidity to service its debt under all reasonably foreseeable scenarios by monitoring cash balances readily marketable securities and rolling 12-month cash flow forecasts.Simultaneously continuously monitor the company's compliance with the loan agreement provisions secure commitments from major financial institutions to provide sufficient standby funding to meet short-term and long-term capital requirements.The Company's various financial liabilities are presented below by maturity based on undiscounted contractual cash flows. 145Chongqing Changan Automobile Co. Ltd. 2026 Semi-Annual Report 3、 Market risk Market risk of financial instruments refers to the risk that the fair value or future cash flows of financial instruments fluctuate due to changes in market prices encompassing exchange rate risk interest rate risk and other price risks. (1) Interest rate risk Interest rate risk refers to the risk that the fair value or future cash flows of a financial instrument will fluctuate due to changes in market interest rates.Interest-bearing financial instruments with fixed rates and floating rates expose the Company to fair value interest rate risk and cash flow interest rate risk respectively.The Company determines the proportion of fixed-rate and floating-rate instruments based on market conditions and maintains an appropriate mix of such instruments through regular review and monitoring. Where necessary the Company employs interest rate swap instruments to hedge against interest rate risk.The Company's revenue and operating cash flows are substantially unaffected by fluctuations in market interest rates. As of June 30 2026 all bank borrowings and bonds payable of the Company bear interest at fixed rates. The Company currently has no hedging against interest rate risk. (2) Exchange rate risk Exchange rate risk refers to the risk that the fair value or future cash flows of a financial instrument will fluctuate due to changes in foreign exchange rates.The Company continuously monitors the scale of foreign currency transactions and foreign currency assets and liabilities to minimize exposure to foreign exchange risk. Furthermore the company may also enter into forward foreign exchange contracts or currency swap agreements to mitigate exchange rate risks. The Company has not entered into any currency swap contracts in the current or preceding periods.The Company's exposure to exchange rate risk primarily stems from financial assets and financial liabilities denominated in US dollars and the amounts of foreign currency financial assets and foreign currency financial liabilities converted into RMB are presented as follows.As of June 30 2026 assuming all other variables remain unchanged a 5% appreciation or depreciation of the Renminbi against the US Dollar would result in an increase or decrease in the Company's net profit of RMB 66193541.74 (as of December 31 2025: RMB 25121701.91). Management believes that a 5% range reasonably reflects the potential fluctuation of the RMB against the USD in the upcoming fiscal year. (3) Other price risks Other price risks refer to the risk that the fair value or future cash flows of a financial instrument fluctuate due to market price changes other than those arising from exchange rate and interest rate risks.The Company's other price risks primarily arise from investments in various equity instruments exposing the Company to the risk of fluctuations in equity instrument prices. 146Chongqing Changan Automobile Co. Ltd. 2026 Semi-Annual Report XIII. Disclosure of Fair Value The inputs used in fair value measurement are categorized into three levels: Level 1 inputs are unadjusted quoted prices in active markets for identical assets or liabilities that are accessible at the measurement date.The second-level input value refers to observable inputs other than quoted prices in active markets for identical assets or liabilities (Level 1) that are directly or indirectly observable for the relevant asset or liability.The Level 3 input value refers to unobservable inputs for the relevant asset or liability.The level of the fair value measurement hierarchy to which the fair value measurement result belongs is determined by the lowest level of input that is significant to the fair value measurement as a whole. 1. The fair value at the end of the period of assets and liabilities measured at fair value. Fair value at end of period Item Level 1 fair value Level 2 fairvalue Level 3 fair valuemeasurement measurement Totalmeasurement I. Recurring fair value measurement ◆Financial assets held for trading 98189461.12 30137096.47 128326557.59 (1) Investments in equity instruments 98189461.12 98189461.12 (2) Derivative financial assets 30137096.47 30137096.47 ◆Other investments in equity instruments 692201858.72 692201858.72 Total assets measured at fair value on a recurring basis 98189461.12 30137096.47 692201858.72 820528416.31 147Chongqing Changan Automobile Co. Ltd. 2026 Semi-Annual Report 2. Reconciliation of the carrying amounts at the beginning and end of the year and sensitivity analysis of unobservable inputs for Level 3 fair value measurements on a recurring basis. 1、 Reconciliation information for recurring Level 3 fair value measurements. Total current gains or losses Purchases issuances sales and settlements Unrealized gains or changes in Balance at Item beginning of Transferred Transferred current period to Level 3 out of Level Recognized Recognized in Balance at end prior year 3 in profit or other Purchase Issuance Sale Settlement of period recognized in comprehensive profit or loss forloss income assets held at endof reporting period ◆Other investments in equity instruments 692201858.72 692201858.72 148Chongqing Changan Automobile Co. Ltd. 2026 Semi-Annual Report XIV. Related Parties and Related Party Transactions 1. Information regarding the parent company of our organization. Shareholding Voting right Name of parent Place of Nature of business Registered capital ratio of the ratio of thecompany registration parent parent company(%) company(%) Chenchi Manufacture and AutomobileTechnology Beijing sale of Group Co. Ltd. Municipality automobiles 6092273400.0020.8720.87 engines and parts The ultimate controlling party of our company is China Changan Automobile Group Co.Ltd. 2. Overview of the Company's Subsidiaries Details regarding the Company's subsidiaries are provided in Note 10 "Interests in Other Entities." 3. Status of the Company's Joint Ventures and Associates Details of the Company's significant associates and joint ventures are provided in Note 10 "Interests in Other Entities." 4. Status of Other Related Parties Name of other related parties Relationship of other related parties with theCompany Chongqing Qingshan Industry Co. Ltd. Subject to the sameUltimatelyControlled byholding company Chongqing Changan Minsheng Logistics Co. Ltd. Subject to the sameUltimatelyControlled byholding company Chenchi (Chongqing) Lightweight Technology Co. Ltd. Subject to the sameUltimatelyControlled byholding company Sichuan Jian'an Industry Co. Ltd. Subject to the sameUltimatelyControlled byholding company Sichuan Ningjiang Shanchuan Machinery Co. Ltd. Subject to the sameUltimatelyControlled byholding company Southwest Faurecia Automobile Parts Co. Ltd. Subject to the sameUltimatelyControlled byholding company Chenchi (Chongqing) Brake System Co. Ltd. Subject to the sameUltimatelyControlled byholding company Harbin Dong'an Automobile Engine Manufacturing Co. Ltd. Subject to the sameUltimatelyControlled byholding company Southwest Intal Automotive Air Conditioner Co. Ltd. Subject to the sameUltimatelyControlled byholding company Chengdu Huachuan Electric Equipment Co. Ltd. Subject to the sameUltimatelyControlled byholding company ChongqingConstruction vehiclesAir Conditioner Co. Ltd. Subject to the sameUltimatelyControlled byholding company Hunan Tianyan Machinery Co. Ltd. Subject to the sameUltimatelyControlled byholding company Harbin Dong'an Automobile Power Co. Ltd. Subject to the sameUltimatelyControlled byholding company Chenchi (Chengdu) Intelligent Suspension Co. Ltd. Subject to the sameUltimatelyControlled by 149Chongqing Changan Automobile Co. Ltd. 2026 Semi-Annual Report Name of other related parties Relationship of other related parties with theCompany holding company ChongqingFuji SupplySupply Chain Management Co. Ltd. Subject to the sameUltimatelyControlled byholding company Guizhou Wanyou Automobile Sales & Service Co. Ltd. Subject to the sameUltimatelyControlled byholding company Chongqing Wanyou Economic Development Co. Ltd. Subject to the sameUltimatelyControlled byholding company Jiangsu Wanyou Automobile Sales & Service Co. Ltd. Subject to the sameUltimatelyControlled byholding company YunnanWanyou Automobile Sales & Service Co. Ltd. Subject to the sameUltimatelyControlled byholding company ChengduWanyou XiangyuAutomobile Sales & Service Co. Ltd. Subject to the sameUltimatelyControlled byholding company ChengduWanyou Auto TradeService Co. Ltd. Subject to the sameUltimatelyControlled byholding company Anhui Wanyou Automobile Sales & Service Co. Ltd. Subject to the sameUltimatelyControlled byholding company Chenchi AutomobileTechnology Group Co. Ltd. Subject to the sameUltimatelyControlled byholding company Chongqing Wanyou Chengxing Automobile Sales & Service Co. Subject to the sameUltimatelyControlled by Ltd. holding company Wanyou Automobile Investment Co. Ltd. Subject to the sameUltimatelyControlled byholding company in China Changan Automobile Group Tianjin Sales Co. Ltd. Subject to the sameUltimatelyControlled byholding company Beijing Beifang Changfu Automobile Sales Co. Ltd. Subject to the sameUltimatelyControlled byholding company Chongqing Wanyou Ducheng Automobile Sales & Service Co. Subject to the sameUltimatelyControlled by Ltd. holding company ChengduWanyou Automobile Sales & Service Co. Ltd. Subject to the sameUltimatelyControlled byholding company Chenchi TechnologyCo. Ltd. Subject to the sameUltimatelyControlled byholding company Longchang Shanchuan Machinery Co. Ltd. Subject to the sameUltimatelyControlled byholding company Chongqing WanYouzhicheng AutomobileSales & Service Co. Subject to the sameUltimatelyControlled by Ltd. holding company BeijingOrdnance InsuranceBrokerage Co. Ltd. Subject to the sameUltimatelyControlled byholding company Chongqing WanYouxingjian AutomobileSales & Service Co. Ltd. Subject to the sameUltimatelyControlled byholding company Ya'an Wanyou Automobile Sales & Service Co. Ltd. Subject to the sameUltimatelyControlled byholding company Chongqing Qingshan Transmission Sales Co. Ltd. Subject to the sameUltimatelyControlled byholding company Panzhihua Wanyou Automobile Sales & Service Co. Ltd. Subject to the sameUltimatelyControlled byholding company Chongqing WanYouzundaAutomobile Sales & Service Co. Ltd. Subject to the sameUltimatelyControlled byholding company Chongqing Changxiang SupplySupply Chain TechnologyCo. Ltd. Subject to the sameUltimatelyControlled byholding company 150Chongqing Changan Automobile Co. Ltd. 2026 Semi-Annual Report Name of other related parties Relationship of other related parties with theCompany ChengduWanyou Trading Co. Ltd. Subject to the sameUltimatelyControlled byholding company Chongqing Anfu Automobile Marketing Co. Ltd. Subject to the sameUltimatelyControlled byholding company Chongqing Wanyou Longrui Automobile Sales & Service Co. Subject to the sameUltimatelyControlled by Ltd. holding company China South Industries Group Finance Co. Ltd. Subject to the sameUltimatelyControlled byholding company Dali Wanfu Automobile Sales & Service Co. Ltd. Subject to the sameUltimatelyControlled byholding company in China China South Industries GroupCommercial factoring Co. Subject to the sameUltimatelyControlled by Ltd. holding company Chongqing Saimei Digital Intelligence Technology Co. Ltd. Subject to the sameUltimatelyControlled byholding company Luoyang Northern Enterprise Group Co. Ltd. Subject to the sameUltimatelyControlled byholding company Chongqing Jianshe Automobile Systems Co. Ltd. Subject to the sameUltimatelyControlled byholding company China Changan Automobile Group Shenzhen Investment Co. Ltd. Subject to the sameUltimatelyControlled byholding company Chongqing Wanyou Automobile Sales & Service Co. Ltd. Subject to the sameUltimatelyControlled byholding company GKN DrivelineDrivetrain System (Chongqing) Co. Ltd. Companies in which the ultimate holding companyhas equity participation Chongqing JiansheHanon AutomobileThermal Management Companies in which the ultimate holding company System Co. Ltd. has equity participation Benteler Jian'an Automobile Systems (Chongqing) Co. Ltd. Companies in which the ultimate holding companyhas equity participation AVATR (Chongqing) Automobile Sales & Service Co. Ltd. OtherRelated party Yinwang IntelligentTechnology Co. Ltd. OtherRelated party Beijing Wulian Technology Co. Ltd. OtherRelated party Taizhou LingXingzhixiang TechnologyCo. Ltd. OtherRelated party Hangzhou LingXingyuexiang AutomobileService Co. Ltd. OtherRelated party Shanghai Jiaxing Automobile Service Co. Ltd. OtherRelated party Hubei Huama Ruili Automobile Lighting Co. Ltd. Former China South Industries GroupCompaniesunder group control Chongqing Jianshe Transmission Technology Co. Ltd. Former China South Industries GroupCompaniesunder group control Hubei Huache Lamp Co. Ltd. Former China South Industries GroupCompaniesunder group control ChengduWanyou Filter Co. Ltd. Former China South Industries GroupCompaniesunder group control Chongqing Shangfang Automobile Parts Co. Ltd. Former China South Industries GroupCompaniesunder group control Chengde Sukeng Yinhe Automobile Parts Co. Ltd. Former China South Industries GroupCompaniesunder group control Chongqing Changan Industry (Group) Co. Ltd. Former China South Industries GroupCompaniesunder group control Chongqing Changan Intelligent Industrial Technology Service Former China South Industries GroupCompanies 151Chongqing Changan Automobile Co. Ltd. 2026 Semi-Annual Report Name of other related parties Relationship of other related parties with theCompany Co. Ltd. under group control Chengdu Lingchuan AutomotiveFuel Tank Co. Ltd. Former China South Industries GroupCompaniesunder group control Chongqing Yihong Defense Technology Co. Ltd. Former China South Industries GroupCompaniesunder group control Chongqing Dajiang Jiexin Forging Co. Ltd. Former China South Industries GroupCompaniesunder group control in China China South Industries Group No. 59 Research Institute Former China South Industries GroupCompanies Co. Ltd. under group control Southwest Ordnance (Chongqing) Smart Technology Co. Ltd. Former China South Industries GroupCompaniesunder group control Chongqing Changan Smart City Operation Management Co. Ltd. Former China South Industries GroupCompaniesunder group control Southwest Ordnance Chongqing Environmental Protection Former China South Industries GroupCompanies Research Institute Co. Ltd. under group control Nanyang Lida Optoelectronics Co. Ltd. Former China South Industries GroupCompaniesunder group control Chengdu Jialing Huaxi Optical Precision Machinery Co. Ltd. Former China South Industries GroupCompaniesunder group control Chongqing Southwest Inspection and Testing Co. Ltd. Former China South Industries GroupCompaniesunder group control China Ordnance News Former China South Industries GroupCompaniesunder group control China Ordnance Equipment Research Institute Former China South Industries GroupCompaniesunder group control in China China South Industries Group Human Resources Former China South Industries GroupCompanies Development Center under group control Chongqing Jianshe Industry (Group) Co. Ltd. Former China South Industries GroupCompaniesunder group control Chongqing Hongyu Precision Industry Group Co. Ltd. Former China South Industries GroupCompaniesunder group control Chongqing Changan Wangjiang Industrial Group Co. Ltd. Former China South Industries GroupCompaniesunder group control in China China South Industries Group Ordnance Equipment Former China South Industries GroupCompanies Research Institute under group control Zhongguangxue Group Co. Ltd. Former China South Industries GroupCompaniesunder group control Chengdu Guangming Optoelectronics Co. Ltd. Former China South Industries GroupCompaniesunder group control Jiangxi Changjiang Chemical Co. Ltd. Former China South Industries GroupCompaniesunder group control Chengdu Lingchuan Special Industry Co. Ltd. Former China South Industries GroupCompaniesunder group control Chongqing Changjiang Electrician Industrial Group Co. Ltd. Former China South Industries GroupCompaniesunder group control Construction Industry Group (Yunnan) Co. Ltd. Former China South Industries GroupCompaniesunder group control Hangzhou Zhiyuan Research InstituteCo. Ltd. Former China South Industries GroupCompaniesunder group control Xi'an Ordnance Industry Special Equipment Inspection Co. Ltd. Former China South Industries GroupCompaniesunder group control 152Chongqing Changan Automobile Co. Ltd. 2026 Semi-Annual Report Name of other related parties Relationship of other related parties with theCompany Chongqing NaiShiSteering System Co. Ltd. Former China South Industries GroupCompaniesin which the group has equity participation Lear Changan (Chongqing) Automobile Systems Co. Ltd. Former China South Industries GroupCompaniesin which the group has equity participation Chongqing Dajiang Dongyang Plastic Products Co. Ltd. Former China South Industries GroupCompaniesin which the group has equity participation United Automobile Electronics (Chongqing) Co. Ltd. Former China South Industries GroupCompaniesin which the group has equity participation Chengdu Ziguangming Catalytic Technology Co. Ltd. Former China South Industries GroupCompaniesin which the group has equity participation Chongqing Lingchuan Automobile Parts Manufacturing Former China South Industries GroupCompanies Technology Co. Ltd. in which the group has equity participation Chongqing Dajiang YapuAutomobile Parts Co. Ltd. Former China South Industries GroupCompaniesin which the group has equity participation Tenneco Lingchuan (Chongqing) Exhaust System Co. Ltd. Former China South Industries GroupCompaniesin which the group has equity participation Chongqing Wanyou Human Resources Service Co. Ltd. Former China South Industries GroupCompaniesin which the group has equity participation Henan Dubang Optoelectronics Co. Ltd. Former China South Industries GroupCompaniesin which the group has equity participation 153Chongqing Changan Automobile Co. Ltd. 2026 Semi-Annual Report 5. Status of Related-Party Transactions 1、 Related-party transactions involving the purchase and sale of goods as well as the provision and acceptance of services. Statement of Purchased Goods and Accepted Services Whether Related party Related party transaction content Amount for the period Approved transaction exceedinglimit transaction Amount for the prior period limit Times Changan Power Battery Co. Ltd. Receipt of services and purchase of parts 4982359880.50 12206838245.04 No 2861184810.74 Chongqing Qingshan Industry Co. Ltd. Receipt of services and purchase of parts 3341968314.53 11248575075.82 No 4744432632.00 Chongqing Changan Minsheng Logistics Co.Ltd. Receipt of services and purchase of parts 2026563267.28 7169699758.43 No 1599767925.70 Chenchi (Chongqing) Lightweight Technology Co. Ltd. Purchase of parts 527136508.87 1048348954.85 No - Chongqing NaiShiSteering System Co. Ltd. Purchase of parts 455588062.14 1737565863.94 No 615706328.87 AVATR (Chongqing) Automobile Sales & Service Co. Ltd. Purchase of vehicles and parts 436918595.05 3907268534.68 No 203283625.29 Hubei Huama Ruili Automobile Lighting Co.Ltd. Purchase of parts 402065391.29 1684957913.68 No 607797713.80 Sichuan Jian'an Industry Co. Ltd. Receipt of services and purchase of parts 386817699.34 1295452785.00 No 556162903.32 Sichuan Ningjiang Shanchuan Machinery Co.Ltd. Purchase of parts 347243618.03 1006470215.06 No 312245749.06 Chongqing Wulian Technology Co. Ltd. Receipt of services and purchase of parts 345865948.21 2474318650.46 No 688953764.27 Southwest Faurecia Automobile Parts Co. Ltd. Purchase of parts 319515969.25 1042469754.12 No 272744066.65 Chenchi (Chongqing) Brake System Co. Ltd. Receipt of services and purchase of parts 316712483.22 1374528625.82 No 545634066.12 Harbin Dong'an Automobile Engine Manufacturing Co. Ltd. Purchase of parts 269440786.10 970113512.80 No 408671304.94 Southwest Intal Automotive Air Conditioner Co. Ltd. Receipt of services and purchase of parts 228983490.41 1006677216.30 No 286458494.89 154Chongqing Changan Automobile Co. Ltd. 2026 Semi-Annual Report Whether Related party Related party transaction content Amount for the period Approved transaction exceedinglimit transaction Amount for the prior period limit Chongqing Changxian Intelligent Technology Co. Ltd. Receipt of services 214704000.24 1056000000.00 No 245510019.44 Chengdu Huachuan Electric Equipment Co.Ltd. Receipt of services and purchase of parts 210672308.98 705506070.02 No 346756124.64 Lear Changan (Chongqing) Automobile Systems Co. Ltd. Purchase of parts 205926920.58 821758825.24 No 235571658.74 Changan Ford Automobile Co. Ltd. Receipt of services 177107674.41 1730563.38 Yes 640063.46 GKN DrivelineDrivetrain System (Chongqing) Co. Ltd. Receipt of services and purchase of parts 170282778.69 569845942.61 No 223519311.35 ChongqingConstruction vehiclesAir Conditioner Co. Ltd. Purchase of parts 158216437.99 424416453.58 No 147121378.71 Jiangling Holding Co. Ltd. Receipt of services and purchase of parts 194727914.12 32784320.65 Yes 2124490381.04 Chongqing Dajiang Dongyang Plastic Products Co. Ltd. Purchase of parts 133448920.65 477297133.66 No 205855880.56 United Automobile Electronics (Chongqing) Co. Ltd. Receipt of services and purchase of parts 130292443.16 627031879.46 No 345007499.56 Yinwang IntelligentTechnology Co. Ltd. Purchase of parts 124006282.60 1875291657.73 No 335802505.19 Hunan Tianyan Machinery Co. Ltd. Purchase of parts 120070057.01 344190626.56 No 103676523.86 Chongqing Jianshe Transmission Technology Co. Ltd. Purchase of parts 116655319.82 442978759.28 No 139817864.17 Chengdu Ziguangming Catalytic Technology Co. Ltd. Purchase of parts 113044741.09 345656802.19 No 156195553.96 Changan Automobile Finance Co. Ltd. Receipt of services 105932452.35 528736.88 Yes - Harbin Dong'anAutomobile Power Co. Ltd. Purchase of parts 100921576.45 335283954.07 No 123290329.97 Chenchi (Chengdu) Intelligent Suspension Co.Ltd. Purchase of parts 86993987.69 160420572.24 No 45521049.97 155Chongqing Changan Automobile Co. Ltd. 2026 Semi-Annual Report Whether Related party Related party transaction content Amount for the period Approved transaction exceedinglimit transaction Amount for the prior period limit Hubei Huache Lamp Co. Ltd. Purchase of parts 78139682.41 214675997.71 No 67650436.57 ChengduWanyou Filter Co. Ltd. Purchase of parts 76462885.22 177047474.64 No 84112950.33 Chongqing Lingchuan Automobile Parts Manufacturing Technology Co. Ltd. Purchase of parts 74955523.36 230878450.62 No 102006102.48 Chongqing Shangfang Automobile Parts Co.Ltd. Purchase of parts 58024920.72 236525105.84 No 90118703.70 Chong'an Da Semiconductor Co. Ltd. Purchase of parts 54795827.65 250829468.40 No 63094106.85 Chongqing Dajiang Yapu Automobile Parts Co.Ltd. Purchase of parts 51837858.43 325168187.63 No 132993599.94 ChongqingFuji SupplySupply Chain Management Co. Ltd. Receipt of services and purchase of parts 49202647.94 11140151.11 Yes 80728.30 Guizhou Wanyou Automobile Sales & Service Co. Ltd. Receipt of services 35285534.70 30079236.47 Yes 18177174.97 Chengde Sukeng Yinhe Automobile Parts Co.Ltd. Purchase of parts 33311260.77 119581470.96 No 58816914.06 Chongqing Wanyou Economic Development Co. Ltd. Receipt of services and purchase of parts 31379427.54 40896469.98 No 22433334.98 Jiangsu Wanyou Automobile Sales & Service Co. Ltd. Receipt of services and purchase of parts 28950768.92 22058055.04 Yes 16900581.07 Chongqing Changan Industry (Group) Co. Ltd. Receipt of services 27412049.17 91607228.40 No 35206202.86 Yunnan Wanyou Automobile Sales & Service Co. Ltd. Receipt of services 26061615.60 41944228.02 No 15982384.37 Chongqing Changan Intelligent Industrial Technology Service Co. Ltd. Receipt of services 20678874.33 60617627.95 No 22400208.03 ChengduWanyou XiangyuAutomobile Sales & Service Co. Ltd. Receipt of services 18362637.89 27040975.98 No 15968173.19 156Chongqing Changan Automobile Co. Ltd. 2026 Semi-Annual Report Whether Related party Related party transaction content Amount for the period Approved transaction exceedinglimit transaction Amount for the prior period limit Chengdu Lingchuan AutomotiveFuel Tank Co.Ltd. Purchase of parts 18313261.04 83690391.60 No 27128533.16 Tenneco Lingchuan (Chongqing) Exhaust System Co. Ltd. Purchase of parts 17103863.05 122107755.80 No 36548398.07 Chongqing Yihong Defense Technology Co.Ltd. Purchase of parts 14473869.80 58527146.56 No 23821213.98 Chongqing Dajiang Jiexin Forging Co. Ltd. Purchase of parts 13288594.30 65066598.66 No 26284866.84 Changan Mazda Engine Co. Ltd. Receipt of services and purchase of parts 11431839.80 2592674.40 Yes 1136326.24 Beijing Wulian Technology Co. Ltd. Purchase of parts 10783429.81 76084219.51 No 26310829.36 ChengduWanyou Auto TradeService Co. Ltd. Receipt of services and purchase of parts 9417731.62 14716762.26 No 5995585.06 Nanjing Lingxing Technology Co. Ltd. Receipt of services 9309958.24 24896880.50 No 7335.98 Anhui Wanyou Automobile Sales & Service Co. Ltd. Receipt of services 8583638.66 11095423.54 No 8243534.52 Chenchi AutomobileTechnology Group Co.Ltd. Purchase of parts 7838430.55 1824115.16 Yes 282813246.48 inQichuang Zhike TechnologyCo. Ltd. Receipt of services 7700000.00 56203563.60 No 2378000.00 Chongqing Wanyou Chengxing Automobile Sales & Service Co. Ltd. Receipt of services 6654387.83 4883435.17 Yes 2340416.43 in China China South Industries Group No. 59 Research Institute Co. Ltd. Purchase of parts 6490193.38 6722407.62 No 1765406.33 Wanyou Automobile Investment Co. Ltd. Receipt of services 5247474.26 8355393.31 No 5147240.90 in China Changan Automobile Group Tianjin Sales Co. Ltd. Receipt of services 4550753.16 9754774.07 No 5195312.25 Beijing Beifang Changfu Automobile Sales Co. Ltd. Receipt of services 4492966.76 326601.29 Yes 377.36 157Chongqing Changan Automobile Co. Ltd. 2026 Semi-Annual Report Whether Related party Related party transaction content Amount for the period Approved transaction exceedinglimit transaction Amount for the prior period limit Chongqing Wanyou Ducheng Automobile Sales & Service Co. Ltd. Receipt of services 3992698.82 4335473.90 No 1785922.67 Chengdu Wanyou Automobile Sales & Service Co. Ltd. Receipt of services 3815663.54 4892090.89 No 1616665.61 Chenchi TechnologyCo. Ltd. Purchase of parts 3168827.62 18058621.19 No 14917528.47 Longchang Shanchuan Machinery Co. Ltd. Purchase of parts 2688642.68 17670556.98 No 10757990.86 Southwest Ordnance (Chongqing) Smart Technology Co. Ltd. Receipt of services 1769911.50 958489.25 Yes - Chongqing Changan Smart City Operation Management Co. Ltd. Receipt of services 1567969.15 13068191.22 No 4219628.61 Southwest Ordnance Chongqing Environmental Protection Research Institute Co. Ltd. Receipt of services 1401591.00 8363893.80 No 2775490.71 Chongqing Wanyou Human Resources Service Co. Ltd. Receipt of services 779015.01 2463355.66 No 846571.98 Chongqing WanYouzhicheng AutomobileSales & Service Co. Ltd. Receipt of services 214260.19 902837.00 No 10208.59 BeijingOrdnance InsuranceBrokerage Co. Ltd. Receipt of services 135690.57 703822.12 No 560719.00 Nanyang Lida Optoelectronics Co. Ltd. Purchase of parts 124679.50 1407516.00 No 990165.00 Chengdu Jialing Huaxi Optical Precision Machinery Co. Ltd. Purchase of parts 85453.55 377277.56 No 161730.08 Chongqing JiansheHanon AutomobileThermal Management System Co. Ltd. Purchase of parts - 36747097.28 No 25767591.72 AVATR Technology (Chongqing) Co. Ltd. Purchase of parts - 249522877.32 No 25609887.34 Chongqing WanYouxingjian AutomobileSales & Service Co. Ltd. Receipt of services - 1439705.17 No 973851.07 Ya'an Wanyou Automobile Sales & Service Co. Receipt of services - 1161854.22 No 942847.76 158Chongqing Changan Automobile Co. Ltd. 2026 Semi-Annual Report Whether Related party Related party transaction content Amount for the period Approved transaction exceedinglimit transaction Amount for the prior period limit Ltd.Chongqing Southwest Inspection and Testing Co. Ltd. Receipt of services - 1320000.00 No 831155.74 Chongqing Qingshan Transmission Sales Co.Ltd. Purchase of parts - 305113.16 No 428159.41 Panzhihua Wanyou Automobile Sales & Service Co. Ltd. Receipt of services - 399614.80 No 299619.12 Chongqing WanYouzundaAutomobile Sales & Service Co. Ltd. Receipt of services and purchase of parts - 478846.67 No 262574.29 China Ordnance News Receipt of services - 11732.40 No 255530.00 China Ordnance Equipment Research Institute Receipt of services - 84000.00 No 61320.75 Chongqing Changxiang SupplySupply Chain TechnologyCo. Ltd. Receipt of services - 108000.00 No 43824.69 ChengduWanyou Trading Co. Ltd. Receipt of services - 5756.08 No 4577.18 in China China South Industries Group Human Resources Development Center Receipt of services - 1898.94 No 1792.45 159Chongqing Changan Automobile Co. Ltd. 2026 Semi-Annual Report Statement of Sales of Goods and Provision of Services Related party Related party transaction Amount for the Amount for thecontent period prior period Chongqing WanYouzundaAutomobile Sales & Service Co. Ltd. Sales of parts 1524512945.39 1602869960.28 Sales of vehicles and MaSt Changan Automobile Co. Ltd. parts and provision of 950646726.05 1508937061.87 services AVATR Technology (Chongqing) Co. Ltd. Sales of parts andprovision of services 939953280.48 454184680.54 Chongqing Wanyou Economic Development Sales of vehicles and Co. Ltd. parts and provision of 835827708.79 1117433203.42services ChengduWanyou XiangyuAutomobile Sales & Sales of vehicles and Service Co. Ltd. parts and provision of 507444882.82 1217370204.07services Sales of vehicles and Wanyou Automobile Investment Co. Ltd. parts and provision of 479764156.73 698939398.78 services Changan Mazda Automobile Co. Ltd. Sales of parts andprovision of services 187806766.62 341029419.05 Guizhou Wanyou Automobile Sales & Service Sales of vehicles and Co. Ltd. parts and provision of 352991427.92 713283391.56services Yunnan Wanyou Automobile Sales & Service Sales of vehicles and Co. Ltd. parts and provision of 218519718.53 277652074.66services Jiangsu Wanyou Automobile Sales & Service Sales of vehicles and Co. Ltd. parts and provision of 183380124.35 467735302.55services Chongqing WanYouzhicheng AutomobileSales Sales of vehicles and & Service Co. Ltd. parts 181381995.28 610014111.81 Sales of vehicles and Jiangling Holding Co. Ltd. parts and provision of 147495078.33 2174698.43 services Changan Ford Automobile Co. Ltd. Sales of parts andprovision of services 124049680.63 74343676.00 in China Changan Automobile Group Tianjin Sales of vehicles and Sales Co. Ltd. parts and provision of 109483158.37 48859647.54services Anhui Wanyou Automobile Sales & Service Sales of vehicles and Co. Ltd. parts and provision of 107241623.31 156470576.53services Changan Mazda Engine Co. Ltd. Sales of parts andprovision of services 96737947.91 52634932.00 Beijing Beifang Changfu Automobile Sales Sales of vehicles and Co. Ltd. parts and provision of 50671847.21 2891555.29services Chongqing Changan Kuanyue Vehicle Co. Ltd. Sales of parts andprovision of services 37157168.11 39159030.00 Chongqing Changxian Intelligent Technology Co. Ltd. Provision of services 26930680.51 3585730.58 Sales of vehicles and ChengduWanyou Auto TradeService Co. Ltd. parts and provision of 19331634.11 30790191.73 services 160Chongqing Changan Automobile Co. Ltd. 2026 Semi-Annual Report Related party Related party transaction Amount for the Amount for thecontent period prior period Chenchi (Chongqing) Lightweight Technology Co. Ltd. Provision of services 13369415.61 - Chongqing Qingshan Industry Co. Ltd. Sales of parts 10323774.43 19302119.71 in China Changan Automobile Group Co. Ltd. Provision of services 4787083.93 - Chongqing Changan Intelligent Industrial Technology Service Co. Ltd. Provision of services 3835651.59 8214976.84 Chongqing Wulian Technology Co. Ltd. Provision of services 2020317.04 256370.03 Chongqing Wanyou Chengxing Automobile Sales of parts and Sales & Service Co. Ltd. provision of services 1383002.71 1141491.20 Chengdu Wanyou Automobile Sales & Service Sales of vehicles and Co. Ltd. parts and provision of 1259275.80 1306174.47services Chongqing Wanyou Ducheng Automobile Sales Sales of vehicles and & Service Co. Ltd. parts and provision of 1221438.75 1204449.80services Chongqing Anfu Automobile Marketing Co. Sales of complete Ltd. vehicles 1657314.27 13506106.24 Chongqing Wanyou Longrui Automobile Sales Sales of complete & Service Co. Ltd. vehicles 548296.45 - China South Industries Group Finance Co. Ltd. Provision of services 502402.82 933603.42 Southwest Ordnance Chongqing Environmental Protection Research Institute Co. Ltd. Provision of services 466570.82 2933122.49 Chongqing Changan Minsheng Logistics Co.Ltd. Provision of services 246821.70 483970.12 ChanganAutomobile Finance Co. Ltd. Provision of services 234921.69 32623352.27 Chongqing Changan Kuanyue Vehicle Marketing Co. Ltd. Sales of parts 165973.88 199665.70 Jiangling Automobile Co. Ltd. Provision of services 114232.03 - Chongqing Jianshe Industry (Group) Co. Ltd. Provision of services 108490.57 - Nanyang Lida Optoelectronics Co. Ltd. Provision of services 102169.81 - Henan Dubang Optoelectronics Co. Ltd. Provision of services 89141.51 - Hubei Huache Lamp Co. Ltd. Provision of services 58018.87 12264.15 Chengdu Huachuan Electric Equipment Co.Ltd. Provision of services 52960.09 114847.82 Chongqing Hongyu Precision Industry Group Co. Ltd. Provision of services 14150.94 58015.47 Chongqing Dajiang Dongyang Plastic Products Co. Ltd. Provision of services 7502.26 - Southwest Ordnance (Chongqing) Smart Technology Co. Ltd. Provision of services 3320.00 19839.00 Chongqing Yihong Defense Technology Co.Ltd. Provision of services 1911.50 - ChongqingConstruction vehiclesAir Conditioner Co. Ltd. Provision of services 477.88 - United Automobile Electronics (Chongqing) Co. Ltd. Provision of services 477.88 - Taizhou LingXingzhixiang TechnologyCo. Sales of complete Ltd. vehicles - 51106193.60 161Chongqing Changan Automobile Co. Ltd. 2026 Semi-Annual Report Related party Related party transaction Amount for the Amount for thecontent period prior period Chenchi AutomobileTechnology Group Co.Ltd. Provision of services - 4435919.04 Hangzhou LingXingyuexiang Sales of complete AutomobileService Co. Ltd. vehicles - 4159292.00 Chongqing WanYouxingjian AutomobileSales Sales of vehicles and & Service Co. Ltd. parts and provision of - 742128.43services Ya'an Wanyou Automobile Sales & Service Co. Sales of vehicles and Ltd. parts and provision of - 577904.72services Chenchi TechnologyCo. Ltd. Provision of services - 330188.67 Sichuan Jian'an Industry Co. Ltd. Provision of services - 255598.79 Panzhihua Wanyou Automobile Sales & Sales of vehicles and Service Co. Ltd. parts - 154309.76 Chongqing Changan Wangjiang Industrial Group Co. Ltd. Provision of services - 141509.43 ChongqingFuji SupplySupply Chain Sales of complete Management Co. Ltd. vehicles - 120300.88 in China China South Industries Group Ordnance Equipment Research Institute Provision of services - 113207.55 Zhongguangxue Group Co. Ltd. Provision of services - 84905.66 Chengdu Guangming Optoelectronics Co. Ltd. Provision of services - 56603.77 Jiangxi Changjiang Chemical Co. Ltd. Provision of services - 56603.77 Lear Changan (Chongqing) Automobile Systems Co. Ltd. Provision of services - 22230.10 Chenchi (Chongqing) Brake System Co. Ltd. Provision of services - 9978.58 Dali Wanfu Automobile Sales & Service Co.Ltd. Sales of parts - 9152.99 Southwest Intal Automotive Air Conditioner Co. Ltd. Provision of services - 5589.43 Chongqing Jianshe Transmission Technology Co. Ltd. Provision of services - 1478.12 Chengdu Lingchuan AutomotiveFuel Tank Co.Ltd. Provision of services - 955.75 Other related-party transactions Related party Related party Amount for the Amount for the priortransaction content period period Changan Mazda Engine Co. Ltd. Provision of personneltechnical support 6840996.57 6834007.18 Changan Mazda Automobile Co. Ltd. Provision of personneltechnical support 6069811.47 6208770.55 Changan Ford Automobile Co. Ltd. Provision of personneltechnical support 4839180.50 8311746.30 Chongqing Changan Minsheng Logistics Co. Provision of personnel Ltd. technical support 1034071.24 224765.20 Times Changan Power Battery Co. Ltd. Provision of personneltechnical support 1500000.00 1000000.00 TimesonePower Battery Co. Ltd. Provision of personnel 800000.00 - 162Chongqing Changan Automobile Co. Ltd. 2026 Semi-Annual Report Related party Related party Amount for the Amount for the priortransaction content period period technical support Chong'an Da Semiconductor Co. Ltd. Provision of personneltechnical support 350000.00 - Chenchi AutomobileTechnology Group Co. Provision of personnel Ltd. technical support 90794.14 - Changan Ford New Energy Automobile Provision of personnel Technology Co. Ltd. technical support - 2405566.01 Chongqing Changan Kuanyue Vehicle Co. Provision of personnel Ltd. technical support - 1827886.06 Chongqing Wulian Technology Co. Ltd. Provision of personneltechnical support - 980275.80 Jiangling Automobile Co. Ltd. Provision of personneltechnical support - 53029.62 Jiangling Holding Co. Ltd. Provision of personneltechnical support - 50292.50 Technology AVATR Technology (Chongqing) Co. Ltd. development service 14368173.95 2838398.04 fees Technology Changan Mazda Automobile Co. Ltd. development service 12097732.43 2536382.00 fees Technology Changan Mazda Engine Co. Ltd. development service 2744921.66 - fees Technology MaSt Changan Automobile Co. Ltd. development service 1702230.02 - fees Technology Chongqing Qingshan Industry Co. Ltd. development service 434254.95 9693630.55 fees Technology Jiangling Holding Co. Ltd. development service - 51552126.90 fees Chongqing Changan Kuanyue Vehicle Co. Trademark usage fee Ltd. income 4223066.04 68860.14 Wanyou Automobile Investment Co. Ltd. Interest income fromdeferred paymentsin 794319.82 60500.00 Guizhou Wanyou Automobile Sales & Service Interest income from Co. Ltd. deferred paymentsin 683487.69 468774.82 Chongqing Wanyou Economic Development Interest income from Co. Ltd. deferred paymentsin 653637.65 114761.43 ChengduWanyou XiangyuAutomobile Sales & Interest income from Service Co. Ltd. deferred paymentsin 598805.65 334791.22 Anhui Wanyou Automobile Sales & Service Interest income from Co. Ltd. deferred paymentsin 181123.60 115716.99 Yunnan Wanyou Automobile Sales & Service Interest income from Co. Ltd. deferred paymentsin 163608.28 16000.43 ChengduWanyou Auto TradeService Co. Ltd. Interest income fromdeferred paymentsin 68090.11 119434.71 in China Changan Automobile Group Tianjin Interest income from Sales Co. Ltd. deferred paymentsin 40567.84 - Jiangsu Wanyou Automobile Sales & Service Interest income from Co. Ltd. deferred paymentsin 26214.16 317195.31 163Chongqing Changan Automobile Co. Ltd. 2026 Semi-Annual Report 2、 Associated leasing situation The Company acting as the Lessor: Lease income Name of lessee Type of leased recognized for the Lease income recognizedassets period for the prior period Chongqing Changan Minsheng Logistics Co. Buildings and Ltd. land 2673243.00 384442.29 Chongqing Wanyou Economic Development Co. Buildings and Ltd. land 337155.96 337155.96 AVATR (Chongqing) Automobile Sales & Service Co. Ltd. Vehicles 391898.97 53696.79 AVATR Technology (Chongqing) Co. Ltd. Vehicles - 41075.17 164Chongqing Changan Automobile Co. Ltd. 2026 Semi-Annual Report The Company as the Lessee: Amount for the period Amount for the prior period Rental Rental expenses for Variablelease expenses forType of short-term Variable lease Name of lessor leased leases and payments Interest short-term Increase in leases and payments not Interestnot included expense on included in the expense on Increase inassets leases of in the Rent paid lease right-of-use leases of Rent paid right-of-uselow-value measurement liabilities assets low-value measurement lease assets under assets under of lease liabilities assets simplified of lease simplified liabilities treatment liabilities treatment Chongqing Changan Minsheng Warehouse 1606670.05 642668.02 2101524.42 98202.69 - 3444547.17 8131278.55 3444547.17 107615.41 - Logistics Co.Ltd.Chongqing WanYouzhicheng AutomobileSales Automobile 105930.00 - - - 177852.33 - 177852.33 - - & Service Co.Ltd. 165Chongqing Changan Automobile Co. Ltd. 2026 Semi-Annual Report Other related-party transactions (1) Matters regarding deposits and loans with China North Industries Group Financial Co. Ltd.: Related parties Content of Related-PartyTransactions 2026.6.30 Financial Co. Ltd. of the Ordnance Equipment Monetary funds held for related Group parties. 19183808345.52 Financial Co. Ltd. of the Ordnance Equipment Group Short-term borrowings 43703300.00 Financial Co. Ltd. of the Ordnance Equipment Group Entrusted loan 500000000.00 (2) Matters regarding deposits and loans with Changan Automobile Finance Co. Ltd.: Related parties Content of Related-PartyTransactions 2026.6.30 ChanganAutomobile Finance Co. Ltd. Monetary funds held for relatedparties. 10000000000.00 6. Unsettled items such as receivables and payables between related parties. 1、 Receivables Item name Related party End of period book Beginning of priorbalance year book balance Accounts receivable AVATR Technology (Chongqing) Co. Ltd. 1714361745.08 1270441118.13 Changan Mazda Automobile Co. Ltd. 334599235.60 489818149.57 MaSt Changan Automobile Co. Ltd. 163622860.02 39068423.29 Changan Ford Automobile Co. Ltd. 85465472.64 72068853.21 Jiangling Holding Co. Ltd. 61057381.37 12819563.72 Changan Mazda Engine Co. Ltd. 59773037.57 67208668.30 Chongqing Changan Kuanyue Vehicle Co. Ltd. 23122601.61 28133895.43 Chongqing Changxian Intelligent Technology Co.Ltd. 11077630.32 18316422.57 Chenchi (Chongqing) Lightweight Technology Co.Ltd. 2325111.88 - Chongqing WanYouzhicheng AutomobileSales & Service Co. Ltd. 2065371.18 2065371.18 Times Changan Power Battery Co. Ltd. 1590000.00 1530000.00 TimesonePower Battery Co. Ltd. 848000.00 477000.00 Chongqing JiansheHanon AutomobileThermal Management System Co. Ltd. 603972.89 - Harbin Dong'an Automobile Engine Manufacturing Co. Ltd. 575237.79 - Chongqing Wulian Technology Co. Ltd. 430572.46 1250000.00 Chong'an Da Semiconductor Co. Ltd. 371000.00 - Chongqing Changan Minsheng Logistics Co. Ltd. 157609.11 1222115.79 166Chongqing Changan Automobile Co. Ltd. 2026 Semi-Annual Report Item name Related party End of period book Beginning of priorbalance year book balance Chongqing Jianshe Industry (Group) Co. Ltd. 115000.00 115000.00 Henan Dubang Optoelectronics Co. Ltd. 94490.00 - Chongqing Dajiang Dongyang Plastic Products Co.Ltd. 57174.40 - Chongqing Changan Kuanyue Vehicle Marketing Co. Ltd. 46385.47 72545.83 Chongqing Yihong Defense Technology Co. Ltd. 25919.34 - Chongqing Hongyu Precision Industry Group Co.Ltd. 15000.00 143428.60 AVATR (Chongqing) Automobile Sales & Service Co. Ltd. 9499.99 5549429.38 Lear Changan (Chongqing) Automobile Systems Co.Ltd. 5040.00 - Southwest Faurecia Automobile Parts Co. Ltd. 2339.94 - Chongqing Jianshe Transmission Technology Co.Ltd. 2159.94 - Sichuan Ningjiang Shanchuan Machinery Co. Ltd. 1799.95 - Chengdu Huachuan Electric Equipment Co. Ltd. 539.99 - ChongqingConstruction vehiclesAir Conditioner Co.Ltd. 539.99 - Chengdu Wanyou Automobile Sales & Service Co.Ltd. 49.94 50.00 Changan Ford New Energy Automobile Technology Co. Ltd. - 778294.12 in China Changan Automobile Group Co. Ltd. - - Yunnan Wanyou Automobile Sales & Service Co.Ltd. - 11314945.40 Chenchi AutomobileTechnology Group Co. Ltd. - 4748610.84 Chenchi AnQi (Chongqing) Circular Technology Co.Ltd. - 800000.00 ChongqingFuji SupplySupply Chain Management Co. Ltd. - 224215.89 Chongqing Qingshan Industry Co. Ltd. - 155000.00 Changan Automobile Finance Co. Ltd. - 66718.80 Nanjing Lingxing Technology Co. Ltd. - 66389.36 in China China South Industries Group No. 59 Research Institute Co. Ltd. - 4320.00 Guizhou Wanyou Automobile Sales & Service Co.Ltd. - 398.00 Notes receivable Wanyou Automobile Investment Co. Ltd. 1023245000.00 2551100000.00 Chongqing Wanyou Economic Development Co.Ltd. 488985600.00 280000000.00 AVATR Technology (Chongqing) Co. Ltd. 993074590.73 1453315665.60 ChengduWanyou XiangyuAutomobile Sales & Service Co. Ltd. 312600000.00 140000000.00 167Chongqing Changan Automobile Co. Ltd. 2026 Semi-Annual Report Item name Related party End of period book Beginning of priorbalance year book balance Guizhou Wanyou Automobile Sales & Service Co.Ltd. 214450000.00 240000000.00 Jiangling Holding Co. Ltd. - 79557.88 Jiangsu Wanyou Automobile Sales & Service Co.Ltd. 115338000.00 - Anhui Wanyou Automobile Sales & Service Co. Ltd. 83000000.00 - in China Changan Automobile Group Tianjin Sales Co. Ltd. 75100000.00 - Yunnan Wanyou Automobile Sales & Service Co.Ltd. 32100000.00 - Chongqing Changan Kuanyue Vehicle Co. Ltd. 21164084.00 - ChengduWanyou Auto TradeService Co. Ltd. 6700000.00 - Chongqing Changan Kuanyue Vehicle Marketing Co. Ltd. - 39362933.11 Chongqing Qingshan Industry Co. Ltd. - 11652674.47 Other receivables AVATR (Chongqing) Automobile Sales & Service Co. Ltd. 433314.83 47591.42 Chongqing Changan Minsheng Logistics Co. Ltd. 1.61 - Chongqing ChangxinZhiqi private equity investmentFund partnership enterprise (limited - 12982140.82 partnership) Anhe and Chongqing Dingfeng AutomobileContractual private equity - 617440.00 investmentFund Chongqing Wanyou Economic Development Co.Ltd. - 183750.00 Prepayments Chongqing Wulian Technology Co. Ltd. 45920626.00 - Chongqing WanYouzundaAutomobile Sales & Service Co. Ltd. 4643.00 4643.00 Beijing Wulian Technology Co. Ltd. - 598369.42 BeijingOrdnance InsuranceBrokerage Co. Ltd. - 143832.00 AVATR (Chongqing) Automobile Sales & Service Co. Ltd. - 42425.64 Benteler Jian'an Automobile Systems (Chongqing) Co. Ltd. - 180.00 2、 Payables Item name Related party End of period book Beginning of priorbalance year book balance Accounts payable Times Changan Power Battery Co. Ltd. 2077378607.68 2519052360.07 Chongqing Qingshan Industry Co. Ltd. 444298446.37 1468049625.71 168Chongqing Changan Automobile Co. Ltd. 2026 Semi-Annual Report Item name Related party End of period book Beginning of priorbalance year book balance AVATR (Chongqing) Automobile Sales & Service Co. Ltd. 237967173.23 169848698.91 Chenchi (Chongqing) Lightweight Technology Co. Ltd. 193361141.33 320506825.72 Jiangling Holding Co. Ltd. - 457192515.37 Chongqing NaiShiSteering System Co. Ltd. 169089656.39 265248181.97 Hubei Huama Ruili Automobile Lighting Co.Ltd. 157182184.26 280176609.53 Southwest Faurecia Automobile Parts Co. Ltd. 108988618.13 189247048.62 Chenchi (Chongqing) Brake System Co. Ltd. 85195904.65 150880885.56 Southwest Intal Automotive Air Conditioner Co.Ltd. 81952359.51 155311164.28 Hunan Tianyan Machinery Co. Ltd. 67742896.20 73806737.54 Harbin Dong'an Automobile Engine Manufacturing Co. Ltd. 60945556.85 63683197.47 GKN DrivelineDrivetrain System (Chongqing) Co. Ltd. 53683502.36 83830554.09 ChongqingConstruction vehiclesAir Conditioner Co. Ltd. 51469425.03 92373439.43 Sichuan Jian'an Industry Co. Ltd. 51180545.07 132027650.33 Chongqing Jianshe Transmission Technology Co.Ltd. 40213115.50 77570902.89 Chongqing Changan Minsheng Logistics Co. Ltd. 39626974.80 131362395.58 Chengdu Ziguangming Catalytic Technology Co.Ltd. 36042760.11 51381344.83 Chongqing Dajiang Dongyang Plastic Products Co. Ltd. 33777024.56 129528919.61 Chongqing Wulian Technology Co. Ltd. 33041992.12 99418495.36 Chenchi (Chengdu) Intelligent Suspension Co.Ltd. 32604114.92 34664284.48 Sichuan Ningjiang Shanchuan Machinery Co.Ltd. 30165188.46 179208240.58 Chong'an Da Semiconductor Co. Ltd. 28864723.43 51711529.84 Harbin Dong'an Automobile Power Co. Ltd. 27128545.11 34365293.06 Chengde Sukeng Yinhe Automobile Parts Co.Ltd. 25427087.88 17297067.71 Lear Changan (Chongqing) Automobile Systems Co. Ltd. 24185410.86 275355076.96 Hubei Huache Lamp Co. Ltd. 22843236.73 36924298.33 United Automobile Electronics (Chongqing) Co.Ltd. 22016408.36 24815109.89 Chengdu Huachuan Electric Equipment Co. Ltd. 21554843.56 73350307.68 Chongqing ShangfangAutomobile Parts Co. Ltd. 19318655.41 34420344.53 Chongqing Dajiang Yapu Automobile Parts Co.Ltd. 16316264.04 46462288.18 Chongqing Lingchuan Automobile Parts Manufacturing Technology Co. Ltd. 15077908.52 36949048.81 169Chongqing Changan Automobile Co. Ltd. 2026 Semi-Annual Report Item name Related party End of period book Beginning of priorbalance year book balance Changan Mazda Engine Co. Ltd. 11283344.10 252693.00 ChengduWanyou Filter Co. Ltd. 10104620.02 40054476.35 Chongqing Dajiang Jiexin Forging Co. Ltd. 5937273.90 6993115.96 ChongqingFuji SupplySupply Chain Management Co. Ltd. 5614440.50 - in China China South Industries Group No. 59 Research Institute Co. Ltd. 4289868.20 1648414.77 Chenchi AutomobileTechnology Group Co. Ltd. 4116973.23 655689.19 Tenneco Lingchuan (Chongqing) Exhaust System Co. Ltd. 4058690.44 8901575.85 Chengdu Lingchuan AutomotiveFuel Tank Co.Ltd. 3769848.03 14132224.87 Nanjing Lingxing Technology Co. Ltd. 3635017.50 1634432.50 Chongqing Yihong Defense Technology Co. Ltd. 3253082.26 8882622.79 Beijing Wulian Technology Co. Ltd. 2320015.06 3263596.94 Chenchi TechnologyCo. Ltd. 1951343.02 1063880.66 Longchang Shanchuan Machinery Co. Ltd. 1069178.75 1094139.85 Chongqing Wanyou Economic Development Co.Ltd. 1067168.96 2283835.00 Chongqing JiansheHanon AutomobileThermal Management System Co. Ltd. 668990.37 1666216.20 Nanyang Lida Optoelectronics Co. Ltd. 137213.45 48895.00 Chongqing WanYouzundaAutomobile Sales & Service Co. Ltd. 131440.00 - Chengdu Jialing Huaxi Optical Precision Machinery Co. Ltd. 123877.07 136625.67 Chongqing Jianshe Industry (Group) Co. Ltd. 90189.67 575587.79 Chongqing Wanyou Human Resources Service Co. Ltd. 22674.41 - Hangzhou Chelizi Intelligent Technology Co.Ltd. 12350.00 12350.00 Yinwang IntelligentTechnology Co. Ltd. - 20010735.96 Chongqing Changan Industry (Group) Co. Ltd. - 218468.87 Chongqing Qingshan Transmission Sales Co. Ltd. - 133928.83 Chengdu Lingchuan Special Industry Co. Ltd. - 101585.16 Chongqing Changjiang Electrician Industrial Group Co. Ltd. - 40143.79 Construction Industry Group (Yunnan) Co. Ltd. - 18798.73 AVATR Technology (Chongqing) Co. Ltd. - 6859.51 ChengduWanyou XiangyuAutomobile Sales & Service Co. Ltd. - 2700.00 in China Changan Automobile Group Tianjin Sales Co. Ltd. - 1800.00 Notes payable 170Chongqing Changan Automobile Co. Ltd. 2026 Semi-Annual Report Item name Related party End of period book Beginning of priorbalance year book balance Times Changan Power Battery Co. Ltd. 4566514762.68 2942318849.83 Jiangling Holding Co. Ltd. - 1168985198.42 Chongqing Qingshan Industry Co. Ltd. 425885262.31 828756707.82 Chongqing Changan Minsheng Logistics Co. Ltd. 410641978.56 495189780.65 Hubei Huama Ruili Automobile Lighting Co.Ltd. 290793082.99 401019281.55 Southwest Intal Automotive Air Conditioner Co.Ltd. 203982382.56 194397790.26 Harbin Dong'an Automobile Engine Manufacturing Co. Ltd. 191533245.13 70342619.22 Chongqing Dajiang Dongyang Plastic Products Co. Ltd. 156057384.87 95699689.14 GKN DrivelineDrivetrain System (Chongqing) Co. Ltd. 140402146.72 158555586.28 Southwest Faurecia Automobile Parts Co. Ltd. 135855710.05 107121575.53 Harbin Dong'an Automobile Power Co. Ltd. 120476660.45 41164010.46 Hunan Tianyan Machinery Co. Ltd. 119560114.95 148756855.34 Chengdu Ziguangming Catalytic Technology Co.Ltd. 107191137.39 87450311.12 Chong'an Da Semiconductor Co. Ltd. 84038941.80 106110908.41 Hubei Huache Lamp Co. Ltd. 77922014.18 19135621.64 Sichuan Jian'an Industry Co. Ltd. 75696261.04 45560000.00 Chenchi (Chengdu) Intelligent Suspension Co.Ltd. 69725371.36 56213167.59 Chongqing Dajiang Yapu Automobile Parts Co.Ltd. 56923998.27 92942388.71 in China China South Industries GroupCommercial factoring Co. Ltd. 52936446.56 - ChengduWanyou Filter Co. Ltd. 45696571.10 24641534.71 Chongqing ShangfangAutomobile Parts Co. Ltd. 40131354.39 44319796.09 Chongqing Jianshe Transmission Technology Co.Ltd. 31245282.58 27492312.38 Tenneco Lingchuan (Chongqing) Exhaust System Co. Ltd. 28773172.58 80359502.73 Chenchi (Chongqing) Lightweight Technology Co. Ltd. 26406032.55 49018599.24 Chongqing Lingchuan Automobile Parts Manufacturing Technology Co. Ltd. 16981442.93 34258031.45 Chongqing Dajiang Jiexin Forging Co. Ltd. 15731936.30 34206541.87 Chongqing Yihong Defense Technology Co. Ltd. 14827631.75 20307787.77 Chengdu Lingchuan AutomotiveFuel Tank Co.Ltd. 10984852.88 961311.52 Sichuan Ningjiang Shanchuan Machinery Co.Ltd. 9713058.85 29932721.08 Chengdu Huachuan Electric Equipment Co. Ltd. 9438252.36 5625504.00 Chenchi (Chongqing) Brake System Co. Ltd. 8197216.55 81882526.12 171Chongqing Changan Automobile Co. Ltd. 2026 Semi-Annual Report Item name Related party End of period book Beginning of priorbalance year book balance ChongqingConstruction vehiclesAir Conditioner Co. Ltd. 5725295.45 782839.01 AVATR Technology (Chongqing) Co. Ltd. 5570736.85 1221863.37 Chenchi AutomobileTechnology Group Co. Ltd. 4637368.95 17801268.06 Chongqing Saimei Digital Intelligence Technology Co. Ltd. 3028017.60 - in China China South Industries Group No. 59 Research Institute Co. Ltd. 2944841.55 2222495.38 Longchang Shanchuan Machinery Co. Ltd. 2126325.14 1209670.71 Chenchi TechnologyCo. Ltd. 886995.75 - Chongqing JiansheHanon AutomobileThermal Management System Co. Ltd. 410350.67 7478788.77 Southwest Ordnance Chongqing Environmental Protection Research Institute Co. Ltd. 305814.48 - Chengdu Jialing Huaxi Optical Precision Machinery Co. Ltd. 21938.70 80121.59 Nanyang Lida Optoelectronics Co. Ltd. - 1348790.75 Other payables Nanchang Jiangling Investment Co. Ltd. 1218694485.77 - Chongqing Changan Minsheng Logistics Co. Ltd. 745526817.59 834089329.59 Chongqing Changxian Intelligent Technology Co.Ltd. 93433845.09 71122203.75 ChongqingFuji SupplySupply Chain Management Co. Ltd. 50068812.45 6000.00 Chongqing WanYouzundaAutomobile Sales & Service Co. Ltd. 40122096.25 30640.19 Changan Ford Automobile Co. Ltd. 32045604.99 69791577.55 Times Changan Power Battery Co. Ltd. 3725680.43 19342287.18 Chongqing Wanyou Economic Development Co.Ltd. 3470932.96 4275792.00 Jiangsu Wanyou Automobile Sales & Service Co.Ltd. 3035341.14 6091338.00 Chongqing Qingshan Industry Co. Ltd. 2655265.91 12829021.25 Chongqing Changan Intelligent Industrial Technology Service Co. Ltd. 2112050.42 2758053.43 Yunnan Wanyou Automobile Sales & Service Co.Ltd. 1857832.16 3382108.00 Chongqing Wulian Technology Co. Ltd. 1580225.87 66732.76 Sichuan Jian'an Industry Co. Ltd. 1368992.45 2326580.42 United Automobile Electronics (Chongqing) Co.Ltd. 1297440.00 3956563.83 AVATR Technology (Chongqing) Co. Ltd. 1290938.50 9913578.31 Chongqing Changan Smart City Operation Management Co. Ltd. 1159119.52 4003530.51 Chongqing Changan Industry (Group) Co. Ltd. 926538.76 933552.33 Hubei Huama Ruili Automobile Lighting Co.Ltd. 517280.00 517280.00 172Chongqing Changan Automobile Co. Ltd. 2026 Semi-Annual Report Item name Related party End of period book Beginning of priorbalance year book balance Chenchi (Chongqing) Brake System Co. Ltd. 392562.00 - Chongqing Saimei Digital Intelligence Technology Co. Ltd. 378502.20 1514008.80 Chengdu Wanyou Automobile Sales & Service Co. Ltd. 322879.00 349366.00 Wanyou Automobile Investment Co. Ltd. 307909.40 1290929.00 ChengduWanyou XiangyuAutomobile Sales & Service Co. Ltd. 281906.18 967508.00 Anhui Wanyou Automobile Sales & Service Co.Ltd. 272349.63 618529.00 Chongqing Dajiang Yapu Automobile Parts Co.Ltd. 262286.40 13225.52 Guizhou Wanyou Automobile Sales & Service Co. Ltd. 231546.06 727500.00 ChengduWanyou Auto TradeService Co. Ltd. 219827.16 682028.00 ChengduWanyou Filter Co. Ltd. 166675.00 120000.00 in China Changan Automobile Group Tianjin Sales Co. Ltd. 115187.00 831683.00 in China Changan Automobile Group Co. Ltd. 113000.00 - Chongqing Wanyou Ducheng Automobile Sales & Service Co. Ltd. 90253.50 2814.00 GKN DrivelineDrivetrain System (Chongqing) Co. Ltd. 81173.55 313658.96 Changan Mazda Engine Co. Ltd. 31551.41 66838.01 Beijing Beifang Changfu Automobile Sales Co.Ltd. 25258.14 200000.00 Southwest Intal Automotive Air Conditioner Co.Ltd. 21187.50 704965.20 Chengdu Huachuan Electric Equipment Co. Ltd. 11188.41 28137.00 Chongqing Wanyou Chengxing Automobile Sales & Service Co. Ltd. 5215.00 56277.00 Southwest Ordnance Chongqing Environmental Protection Research Institute Co. Ltd. 1696.00 824234.02 Yinwang IntelligentTechnology Co. Ltd. - 15935987.44 inQichuang Zhike TechnologyCo. Ltd. - 2231088.00 Harbin Dong'an Automobile Engine Manufacturing Co. Ltd. - 1819795.77 Harbin Dong'an Automobile Power Co. Ltd. - 994371.75 Chenchi AutomobileTechnology Group Co. Ltd. - 911597.56 Chenchi (Chongqing) Lightweight Technology Co. Ltd. - 864775.44 Lear Changan (Chongqing) Automobile Systems Co. Ltd. - 794855.74 Hangzhou Zhiyuan Research InstituteCo. Ltd. - 747500.00 Shanghai Jiaxing Automobile Service Co. Ltd. - 443272.50 Xi'an Ordnance Industry Special Equipment Inspection Co. Ltd. - 257458.98 173Chongqing Changan Automobile Co. Ltd. 2026 Semi-Annual Report Item name Related party End of period book Beginning of priorbalance year book balance Chongqing Southwest Inspection and Testing Co.Ltd. - 161621.43 Chongqing WanYouzhicheng AutomobileSales & Service Co. Ltd. - 150932.29 Chongqing ShangfangAutomobile Parts Co. Ltd. - 112642.92 Chongqing NaiShiSteering System Co. Ltd. - 109360.11 Chenchi (Chengdu) Intelligent Suspension Co.Ltd. - 33499.20 Chongqing WanYouxingjian AutomobileSales & Service Co. Ltd. - 100.00 Contract liabilities Wanyou Automobile Investment Co. Ltd. 169511597.08 168512424.89 ChengduWanyou XiangyuAutomobile Sales & Service Co. Ltd. 162105265.69 92030844.48 Chongqing Wanyou Economic Development Co.Ltd. 133309140.74 188226536.62 Guizhou Wanyou Automobile Sales & Service Co. Ltd. 89753793.92 54348387.54 Chongqing WanYouzhicheng AutomobileSales & Service Co. Ltd. 67094428.39 11577578.21 Yunnan Wanyou Automobile Sales & Service Co.Ltd. 66566931.26 37893132.10 Anhui Wanyou Automobile Sales & Service Co.Ltd. 38905672.24 29364968.26 Chongqing WanYouzundaAutomobile Sales & Service Co. Ltd. 36500412.29 104306920.97 MaSt Changan Automobile Co. Ltd. 30915083.01 10784533.95 in China Changan Automobile Group Tianjin Sales Co. Ltd. 30794639.52 11409714.38 Jiangsu Wanyou Automobile Sales & Service Co.Ltd. 24618484.15 28757008.91 in China Changan Automobile Group Co. Ltd. 16980071.32 16968311.32 ChengduWanyou Auto TradeService Co. Ltd. 5316011.04 5866177.17 ChanganAutomobile Finance Co. Ltd. 2189046.73 606371.69 Beijing Beifang Changfu Automobile Sales Co.Ltd. 935686.09 6918517.43 in China China South Industries Group Ordnance Equipment Research Institute 759366.75 759366.75 Sichuan Ningjiang Shanchuan Machinery Co.Ltd. 687162.09 - Chongqing Changan Minsheng Logistics Co. Ltd. 452308.38 439504.23 Chongqing Qingshan Industry Co. Ltd. 445603.99 - Chongqing Wulian Technology Co. Ltd. 355862.48 - Chongqing Wanyou Chengxing Automobile Sales & Service Co. Ltd. 337990.27 165943.08 Chengdu Huachuan Electric Equipment Co. Ltd. 242796.81 - 174Chongqing Changan Automobile Co. Ltd. 2026 Semi-Annual Report Item name Related party End of period book Beginning of priorbalance year book balance Chengdu Wanyou Automobile Sales & Service Co. Ltd. 150787.89 135054.95 Chongqing Wanyou Ducheng Automobile Sales & Service Co. Ltd. 100411.15 147300.89 Harbin Dong'an Automobile Power Co. Ltd. 96320.00 - Chenchi TechnologyCo. Ltd. 35800.00 - Sichuan Jian'an Industry Co. Ltd. 35100.00 - China South Industries Group Finance Co. Ltd. 21300.00 - Chongqing Changan Industry (Group) Co. Ltd. 14221.90 14221.90 Chenchi (Chongqing) Lightweight Technology Co. Ltd. 14120.00 1140830.32 Harbin Dong'an Automobile Engine Manufacturing Co. Ltd. 13428.72 - in China China South Industries GroupCommercial factoring Co. Ltd. 5040.00 - Luoyang Northern Enterprise Group Co. Ltd. 4660.00 - Chongqing Jianshe Automobile Systems Co. Ltd. 4160.00 - Chongqing ShangfangAutomobile Parts Co. Ltd. 3980.00 3980.00 Changan Mazda Automobile Co. Ltd. 1600.00 - China Changan Automobile Group Shenzhen Investment Co. Ltd. 1140.00 - Chongqing Wanyou Automobile Sales & Service Co. Ltd. 600.00 - ChongqingFuji SupplySupply Chain Management Co. Ltd. 500.00 602.65 Southwest Intal Automotive Air Conditioner Co.Ltd. 93.51 - Chongqing Qingshan Transmission Sales Co. Ltd. 64.07 - Changan Ford Automobile Co. Ltd. 1.52 1.84 Chenchi AnQi (Chongqing) Circular Technology Co. Ltd. - 848000.00 Panzhihua Wanyou Automobile Sales & Service Co. Ltd. - 93.51 Dali Wanfu Automobile Sales & Service Co. Ltd. - 9.69 175Chongqing Changan Automobile Co. Ltd. 2026 Semi-Annual Report XV. Share-based Payment 1. Share-based payment expenses Amount for the period Amount for the prior period Grantees Settlement of Settlement ofequity-settled Cash-settled equity-settled Cash-settled share-based share-based Total share-based share-based Total payment payment payment payment Employees 15696797.33 15696797.33 Total 15696797.33 15696797.33 XVI. Commitments and Contingencies 1、 Significant commitments existing as of the balance sheet date. Contracted but not provisioned.Closing balance Balance at the end of theprevious year Capital commitment 6394547257.45 7580145740.71 Investment Commitment 1639000000.00 2486000000.00 Total 8033547257.45 10066145740.71 XVII. Events After the Balance Sheet Date None XVIII. Notes to Major Items in the Parent Company's Financial Statements 1. Accounts Receivable 1、 Accounts receivable are disclosed by aging. Aging Balance at end of period Balance at beginning of prior year 1Within one year (including1years) 25256850319.85 23856071074.50 1to2year 436820560.09 172874324.08 2to3year 14628002.52 844754.52 3years and above 220797211.73 243748449.85 Subtotal 25929096094.19 24273538602.95 Less: bad debt provision 70491048.92 70362828.48 Total 25858605045.27 24203175774.47 176Chongqing Changan Automobile Co. Ltd. 2026 Semi-Annual Report 2、 Disclosure of accounts receivable classified by the method of provision for bad debts. Balance at end of period Balance at beginning of prior year Category Book balance Bad debt provision Book balance Bad debt provision Book value Book value Amount Ratio Amount Provision Amount Ratio Amount Provision(%) ratio (%) (%) ratio (%) Bad debt provision made 866019335.93 3.34 37652846.20 4.35 828366489.73 47086808.46 0.19 37652846.20 79.96 9433962.26 individually By credit riskBad debt provision provided by 25063076758.26 96.66 32838202.72 0.13 25030238555.54 24226451794.49 99.81 32709982.28 0.14 24193741812.21 characteristic portfolio Total 25929096094.19 100.00 70491048.92 25858605045.27 24273538602.95 100.00 70362828.48 24203175774.47 177Chongqing Changan Automobile Co. Ltd. 2026 Semi-Annual Report Accounts receivable for which provision for bad debts is accrued based on a combination of credit risk characteristics: Balance at end of period Name Accounts receivable Bad debt provision Provision ratio (%) 1Within one year (including1years) 24428483830.12 146647.69 0.00 1to2year 436820560.09 31215.07 0.01 2to3year 14628002.52 2818.05 0.02 3years and above 183144365.53 32657521.91 17.83 Total 25063076758.26 32838202.72 3、 Details of the provision for bad debts accrued reversed or recovered in the current period.Balance at Current periodChange in amount Category beginning of Balance at prior year Provision Recoveryor reversal ReversalOrWrite-off Other end of period changes Bad debt provision made individually 37652846.20 37652846.20 By credit riskBad debt provision provided by 32709982.28 128220.44 32838202.72 characteristic portfolio Total 70362828.48 128220.44 70491048.92 4、 Status of accounts receivable and contract assets aggregated by the top five debtors at the end of the period.As of June 30 2026 the aggregate balance of the top five accounts receivable amounted to RMB 18962246382.73 representing 72.62% of the combined ending balance of accounts receivable and contract assets. 2. Other receivables Item Balance at end of period Balance at beginning ofprior year Other receivables item 253436165.07 222763091.21 Total 253436165.07 222763091.21 1、 Other receivables are disclosed by aging. Aging Balance at end of period Balance at beginning of prioryear 1Within one year (including1years) 242008751.99 207731911.19 1to2year 4461810.54 9841659.18 2to3year 2354699.69 4368804.90 3years and above 12145917.68 8089565.38 Subtotal 260971179.90 230031940.65 178Chongqing Changan Automobile Co. Ltd. 2026 Semi-Annual Report Aging Balance at end of period Balance at beginning of prioryear Less: bad debt provision 7535014.83 7268849.44 Total 253436165.07 222763091.21 179Chongqing Changan Automobile Co. Ltd. 2026 Semi-Annual Report 2、 Other receivables are disclosed by classification according to the impairment provision method. Balance at end of period Balance at beginning of prior year Category Book balance Bad debt provision Book balance Bad debt provision Amount Ratio Amount Provision Book value Ratio Provision Book value (%) ratio (%) Amount (%) Amount ratio (%) Bad debt provision made individually 6842932.77 2.62 6842932.77 100.00 6842932.77 2.97 6842932.77 100.00 By credit riskBad debt provision provided by 254128247.13 97.38 692082.06 0.27 253436165.07 223189007.88 97.03 425916.67 0.19 222763091.21 characteristic portfolio Total 260971179.90 100.00 7535014.83 253436165.07 230031940.65 100.00 7268849.44 222763091.21 180Chongqing Changan Automobile Co. Ltd. 2026 Semi-Annual Report Other receivables for which provision for bad debts is accrued based on a combination of credit risk characteristics: Balance at end of period Name Other receivables item Bad debt provision Provision ratio (%) 1Within one year (including1years) 242008751.99 36246.46 1to2year 4461810.54 43804.22 0.98 2to3year 2354699.69 57435.16 2.44 3years and above 5302984.91 554596.22 10.46 Total 254128247.13 692082.06 3、 Provision for Bad Debts Accrual Status Stage 1 Stage 2 Stage 3 Expected credit loss Expected credit loss Bad debt provision Future12Expected over the entire over the entire Total credit loss over duration(No credit duration(Credit months impairment impairment incurred) incurred) Balance at beginning of prior year 425916.67 6842932.77 7268849.44 Balance at beginning of prior year in current period --Transfer to Stage 2 --Transfer to Stage 3 --Transfer back to Stage 2 --Transfer back to Stage 1 Current period provision 266165.39 266165.39 Current period reversal Current periodReversal Current periodWrite-off Other changes Balance at end of period 692082.06 6842932.77 7535014.83 4、 Details of the provision for bad debts accrued reversed or recovered in the current period.Current periodChange in amount Balance at Category beginning of Recovery Balance at end prior year Provision or ReversalOrWrite-off Other of period reversal changes Bad debt provision made individually 6842932.77 6842932.77 By credit riskBad debt provision provided by 425916.67 266165.39 692082.06 characteristic portfolio Total 7268849.44 266165.39 7535014.83 181Chongqing Changan Automobile Co. Ltd. 2026 Semi-Annual Report 5、 Classification by nature of funds Nature of payments End of period book balance Beginning of prior year book balance Advance equity investment payment 617441.00 3112440.00 Subsidy receivable 8654934.00 71382934.00 Petty cash 100055426.99 46884458.39 Internal transactions 109766750.62 5444971.04 Deposits and guarantees 19512200.28 Other 22364427.01 103207137.22 Total 260971179.90 230031940.65 6、 Details of the top five other receivables by debtor at the end of the period based on the aging of accounts receivable.As of June 30 2026 the combined ending balance of the top five other receivables amounted to RMB 138543847.89 representing 53.09% of the total ending balance of other receivables. 3. Long-term equity investment Balance at end of period Balance at beginning of prior year Item Book balance Impairment Book value Book balance Impairmentprovision provision Book value Investment in 12846133928.68 49194195.00 12796939733.68 12614133927.68 49194195.00 12564939732.68 subsidiaries Investments in associates 18160989411.97 18160989411.97 18236929191.74 18236929191.74 and joint ventures Total 31007123340.65 49194195.00 30957929145.65 30851063119.42 49194195.00 30801868924.42 182Chongqing Changan Automobile Co. Ltd. 2026 Semi-Annual Report 1、 Investments in associates and joint ventures. Balance at the end of the Impairment Investee unit previous year provision Changes in the current Closing balance Impairment provision Balance at the end period(book value) (book value) Closing balanceof the previous year 1. Joint venture Nanchang Jiangling Investment Co. Ltd. 2662903407.38 152172675.29 2815076082.67 Changan Mazda Automobile Co. Ltd. 638012017.99 -4326613.65 633685404.34 Changan Mazda Engine Co. Ltd. 809563220.38 -152201.12 809411019.26 Changan Ford Automobile Co. Ltd. 1177568078.19 130698343.83 1308266422.02 Subtotal 5288046723.94 278392204.35 5566438928.29 2. Joint venture enterprises Changan Automobile Finance Co. Ltd. 5603721114.14 188068528.00 5791789642.14 Nanjing Lingxing Equity Investment Partnership (Limited Partnership) 3123552090.24 -29504.04 3123522586.20 CATARC Intelligent Driving Technology Co. Ltd. 420296556.11 -1746697.00 418549859.11 Chongqing Changan Kuayue Vehicle Co. Ltd. 258998406.22 -11954505.83 247043900.39 Chongqing Changxin Zhiji Private Equity Investment Fund Partnership (Limited Partnership) 264750946.49 -12171756.87 252579189.62 Changan Times New Energy Battery Co. Ltd. 206795435.90 107341457.35 314136893.25 Chongqing Changxian Intelligent Technology Co. Ltd. 123022076.92 -1356375.96 121665700.96 Chongqing Chang'an Innovation Private Equity Investment Fund Partnership (Limited Partnership) 167691152.12 -521683.78 167169468.34 Changan Ford New Energy Automotive Technology Co. Ltd. 153148103.41 697535.63 153845639.04 Anhe Chongqing Dingfeng Automotive Contractual Private Equity Investment Fund 62063111.61 78.47 62063190.08 183Chongqing Changan Automobile Co. Ltd. 2026 Semi-Annual Report Balance at the end of the Impairment previous year provisionInvestee unit Changes in the current Closing balance Impairment provision (book value) Balance at the end period (book value) Closing balance of the previous year Hunan Guoxin Semiconductor Technology Co. Ltd. 28211161.19 -455662.26 27755498.93 Nanjing Lingxing Equity Investment Management Co. Ltd. 1094810.00 -6382.78 1088427.22 Nanjing Chelai Travel Technology Co. Ltd. 326831.47 14.86 326846.33 Avatr Technology (Chongqing) Co. Ltd. 2437325004.87 -621902499.46 1815422505.41 Chongqing Changyu Private Equity Investment Fund Partnership (Limited Partnership) 75033392.06 -974982.65 74058409.41 Chongqing Chang'an Kuayue Vehicle Marketing Co. Ltd. 1239482.34 -1239482.34 Chenzhi Anqi (Chongqing) Circular Technology Co. Ltd. 21612792.71 -528701.99 21084090.72 Chongqing Changyuxinhe Private Equity Investment Fund Partnership (Limited Partnership) 2448636.53 2448636.53 Subtotal 12948882467.80 -354331984.12 12594550483.68 Total 18236929191.74 -75939779.77 18160989411.97 184Chongqing Changan Automobile Co. Ltd. 2026 Semi-Annual Report 4. Operating revenue and operating costs 1、 Status of operating revenue and operating costs Amount for the period Amount for the prior period Item Received in Become current Received in Become current Main business 40097156312.14 36588371752.81 45833419037.07 42359995925.72 Other business 4039911645.56 2675889742.39 4158828395.35 2265793194.99 Total 44137067957.70 39264261495.20 49992247432.42 44625789120.71 5. Investment returns Item Amount for the period Amount for the priorperiod Investment income from long-term equity investments accounted for using cost method 1188000000.00 396000000.00 Investment income from long-term equity investments accounted for using equity method -164640970.82 23105164.21 Investment income during the holding period of financial assets held for trading 1353199.70 Interest income from time deposits during holding period 90814236.03 43553124.93 Dividend income from other equity instrument investments during holding period 15041910.38 12692880.00 Investment income from disposal of financial assets held for trading 2627.55 Total 1129217803.14 476704368.84 XIX. Supplementary Materials (一) Statement of Details of Non-Recurring Gains and Losses for the Current Period Item Amount Description Gains and losses on disposal of non-current assets including reversal of asset impairment provisions 75172176.38 Government subsidies recognized in current profit or loss except for those closely related to the Company's normal business in compliance with national policies enjoyed according to 99005867.00 established standards and having a sustained impact on the Company's profit or loss Gains and losses on fair value changes of financial assets and liabilities held by non-financial enterprises and gains and losses on disposal of financial assets and liabilities other than 40186067.03 effective hedging transactions in the normal course of business Fees charged to non-financial enterprises for use of funds recognized in current profit or loss 63731822.45 Non-sameUnder common controlIncome from business combination 161016229.92 Reversal of impairment provision for receivables tested individually 9318582.52 Other non-operating income and expenses other than those above 9823432.08 Other items meeting the definition of non-recurring gains and losses 152504327.43 Subtotal 610758504.81 Income tax effect 14770091.44 Effect of non-controlling interests (after tax) 29419578.14 185Chongqing Changan Automobile Co. Ltd. 2026 Semi-Annual Report Item Amount Description Total 566568835.23 (二) Return on Equity and Earnings Per Share Earnings per share (RMB) Weighted average Profit for the reporting period return on net assets (%) Basic earnings Diluted per share earnings pershare Net profit attributable to ordinary shareholders of the Company 1.06 0.08 0.08 Net profit attributable to ordinary shareholders after deducting non-recurring gains and losses 0.33 0.03 0.03 Chongqing Changan Automobile Co. Ltd.August 29 2026 186