Chongqing Changan Automobile Company Limited 2024 Annual Report April 2025Chongqing Changan Automobile Company Limited 2024 Annual Report Chapter 1 Important Notice 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 Zhang Deyong 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 Positions Reasons for the absence Name of the Trustees directors absent Jia Lishan Director Reason for work Deng Wei Li Keqiang Independent director Reason for work Yang Xinmin Ding Wei Independent director Reason for work Tang Guliang Zhang Ying Independent director Reason for work Li Zhenyu 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 Board has approved a final dividend plan as follows: Based on 9914086060 shares a cash dividend of RMB 2.95 (tax included) per 10 shares is to be distributed to all shareholders without transferring capital reserve to share capital.This Report have 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 Company Limited 2024 Annual Report CONTENTS Chapter 1 Important Notice Contents and Definition... 1 Chapter 2 Company Profile and Main Financial Index... 4 Chapter 3 Management Discussion and Analysis ........ 8 Chapter 4 Corporate Governance ..................... 38 Chapter 5 Environmental and Social Responsibility .. 59 Chapter 6 Important Matters ........................ 68 Chapter 7 Share Changes and Shareholder Informatio.. 73 Chapter 8 Preference Shares ........................ 79 Chapter 9 Bonds .................................... 80 Chapter 10 Auditor’s Report ........................ 83 2Chongqing Changan Automobile Company Limited 2024 Annual Report Documents Available for Reference 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. The 2024 Auditor’s Report stamped by the accounting firm signed and stamped by chartered accountants.Ⅲ. 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.IV. Annual Reports disclosed in other securities markets.Definitions Items Definitions Changan Automobile Refers to Chongqing Changan Automobile Co. Ltd.ChangAn the Company China South Industries Group Corporation Ltd. the Company’s actual CSG Refers to controller China Changan Automobile Group Co. Ltd. formerly known as China China Changan Refers to South Industries Automobile Co. Ltd. a subsidiary company of CSG Chongqing Changan Industry (Group) Co. Ltd. formerly known as Changan Industry Refers to Changan Automobile (Group) Co. Ltd. a subsidiary company of CSG Nanjing Changan Automobile Co. Ltd. a subsidiary company of the Nanjing Changan Refers to Company Hebei Changan Automobile Co. Ltd. a subsidiary company of the Hebei Changan Refers to Company Hefei Changan Automobile Co. Ltd. a subsidiary company of the Hefei Changan Refers to Company Chongqing Changan Kaicheng Automotive Technology Co. Ltd. a Changan Kaicheng Refers to subsidiary company of the Company Changan Ford Refers to Changan Ford Automobile Co. Ltd. a JV of the Company Changan Mazda Refers to Changan Mazda Automobile Co. Ltd. a JV of the Company CME Refers to Changan Mazda Engine Co. Ltd. a JV of the Company Deepal Automotive Technology Co. Ltd. a subsidiary company of the Deepal Auto Refers to Company Avatr Refers to Avatr Technology (Chongqing) Co. Ltd. an associate of the Company 3Chongqing Changan Automobile Company Limited 2024 Annual Report Chapter 2 Company Profile and Main Financial Indexes I. Basic Information Stock abbreviation Changan Automobile Changan B Stock Code 000625 200625 Listed on Shenzhen Stock Exchange Company name in Chinese 重庆长安汽车股份有限公司 Chinese abbreviation 长安汽车 Company name in English Chongqing Changan Automobile Company Limited Legal representative Zhu Huarong Registered address No. 260 East Jianxin Road Jiangbei District Chongqing Post code of the registered 400023 address No. 260 East Jianxin Road Jiangbei District Chongqing.Office address Building T2 No. 2 Financial City No. 61 Dongshengmen Road Jiangbei District Chongqing.Post code of the office address 400023 Website http://www.changan.com.cn E-mail address cazqc@changan.com.cn Ⅱ. Contact Information Secretary of the Board of Directors Securities affairs representative Name Zhang Deyong Li Jun Jie Zhonghua Building T2 No. 2 Financial City Building T2 No. 2 Financial City No. 61 Contact address No. 61 Dongshengmen Road Dongshengmen Road Jiangbei District Jiangbei District Chongqing Chongqing TEL 023-67594008 023-67594008 FAX 023-67870261 023-67870261 E-mail address cazqc@changan.com.cn jiezh@changan.com.cn Ⅲ. Information Disclosure and Filing Site Stock exchange website where this Report is http://www.szse.cn disclosed China Securities Journal Securities Times Securities Daily Media and website where this Report is disclosed Shanghai Securities News Hong Kong Commercial Daily and www.cninfo.com.cn Place where this Report is lodged Board Office of the Company IV. Changes of Registration Information Organization Code 9150000020286320X6 Changes in the main business since the Not applicable Company’s listing 4Chongqing Changan Automobile Company Limited 2024 Annual Report 1. In December 2005 according to the restructuring program on automobile business the Company’s actual controller CSG transferred all state-owned shares of Changan Automobile (Group) Company Limited (“Changan Group”) as part of funding for China South Industries Automobile Co. Ltd. In March 2006 all shares held by Changan Group have been transferred to China South Industries Automobile Co. Ltd. China South Industries Automobile Co. Ltd. became the majority shareholder of the Company and Changan Group Changes of holds zero share since then.controlling 2. In July 2009 with the approval of State Administration for Industry and Commerce shareholder since “China South Industries Automobile Co. Ltd.” changed its name to “China Changanincorporation (if any)Automobile Group Co. Ltd.”. No change occurred in its property ownership and control of the Company. 3. In February 2019 “China Changan Automobile Group LLC” changed its name to “ChinaChangan Automobile Group Co. Ltd.” with the approval of Beijing Administration for Industry and Commerce. The company changed from a joint stock company to a limited liability company.V. Other Relevant Information The audit firm employed by the Company Name Lixin Certified Public Accountants (Special General Partnership) Office address 4th Floor No. 61 Nanjing East Road Huangpu District Shanghai China Accountants writing signatures Zhu Yuqin Wang Kai The independent sponsor employed by the Company to exercise constant supervision over the Company in the reporting period √ Applicable □Not applicable Sponsor Name Office address Supervision period representative 21st Floor CITIC Securities Building CITIC Securities He Yang Liu October 26 2020 - No. 48 Liangmaqiao Road Chaoyang Co. Ltd. Mengdi December 31 2021 District Beijing Note: CITIC Securities Co. Ltd. is the recommendation institution for the continuous supervision of the company's non-public offering of shares in 2020.The independent financial advisor employed by the Company to exercise constant supervision over the Company in the reporting period □ Applicable √ Not applicable VI. Key Accounting Data and Financial Indexes Does the Company need to retrospectively adjust or restate the accounting data of previous years □Yes √ No YoY change 202420232022 (%) Operating revenue (RMB) 159733034213.25 151297706646.97 5.58% 121252864085.40 Net profit attributable to shareholders of the 7321363897.24 11327463013.15 -35.37% 7798785367.38 Company (RMB) Net profit after deduction of non-recurring gains or losses attributable to 2587271652.90 3781846729.11 -31.59% 3254790124.46 shareholders of the Company(RMB) Net cash flow from operating activities 4849398813.14 19861466237.56 -75.58% 5666346858.52 (RMB) Basic earnings per share 0.741.15-35.65%0.80 (RMB/share) Diluted earnings per share 0.74 1.13 -34.51% 0.78 5Chongqing Changan Automobile Company Limited 2024 Annual Report (RMB/share) Weighted average ROE 9.69%16.55%-6.86%13.07% (%) YoY change 31 December 2024 31 December 2023 31 December 2022 (%) Total assets (RMB) 208168160960.86 190171127138.27 9.46% 146049068075.25 Net assets attributable to shareholders of the 76576224624.99 71853119985.49 6.57% 62858608356.06 Company (RMB) The lower of the Company’s net profit before and after deduction of non-recurring gains and losses in the most recent three fiscal years is negative and the audit’s report of last year shows that the Company’s ability to continue operations is uncertain.□Yes √ No The lower of the net profit before and after non-recurring gains and losses is negative.□Yes √ No VII. 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 □ 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 VIII. Key Financial Indexes of 2024 by Quarter Unit: RMB First Quarter Second Quarter Third Quarter Forth Quarter Operating revenues 37023223131.54 39699426592.25 34236946567.92 48773437921.54 Net profit attributable to 1158060683.941673682427.88748103820.933741516964.49 shareholders of the Company Net profit attributable to shareholders of the Company after 111699858.331056980198.54512051599.06906539996.97 deducting non-recurring gains and losses Net cash flow from operating 5247360763.49-1812260022.96958367399.79455930672.82 activities Whether there are significant differences between the above-mentioned financial indexes or its total number and the relevant financial indexes disclosed in the Company’s quarterly report and semi-annual report □ Yes √ No 6Chongqing Changan Automobile Company Limited 2024 Annual Report IX. Items and Amounts of Non-Recurring Gains and Losses √ Applicable □Not applicable Unit: RMB Items 2024 2023 2022 Explanation The main reason is that the Gains or losses on disposal of non-current company recognized gains assets (inclusive of impairment allowance 2550458320.83 441000628.40 74862481.00 from the disposal of fixed write-offs) assets and intangible assets this year.Government subsidies charged to current gains or losses (exclusive of government subsidies given in the Company’s ordinary 1627457923.141463381979.581134358181.32 course of business at fixed quotas or amounts as per the government’s uniform standards) In addition to the effective hedging business related to the normal operation of the company the fair value change gains and losses arising from the holding of -16650665.50-955029.683570229.29 financial assets and financial liabilities by non-financial enterprises and the gains and losses arising from the disposal of financial assets and financial liabilities Income generated from mergers of 5021482128.74 enterprises not under the same control Capital occupation fees charged to non- financial enterprises through profit or loss 91188204.08 66074620.29 40505154.81 for the current period Reversal of impairment provision for accounts receivable subject to separate 4068950.07 21286713.50 2847641.57 impairment testing Gains from remeasuring remaining equity 2128313646.36 at fair value after losing control Other non operating income and expenses 133244432.31141715255.3577519377.00 other than the above items Other profit and loss items that meet the definition of non recurring gains and losses 1014345065.86 673232447.45 1204463464.00 (note) Minus: influenced amount of income tax 592833534.16 255466128.30 94817746.44 Non-controlling interests effects 77186452.2926136331.2927627185.99 (after tax) Total 4734092244.34 7545616284.04 4543995242.92 Particulars about other gains and losses that meet the definition of non-recurring gain/loss √ Applicable □ Not applicableIn accordance with the implementation of “Explanatory Announcement No. 1 on Information Disclosure ofCompanies Offering Securities to the Public — Non-recurring Gains and Losses” the non-recurring gains and losses of the investee company that the investor is entitled to in proportion are recognized in the investment income accounted for using the equity method.Explanation of why the Company reclassifies non-recurrent gain/loss as a recurrent gain/loss item listed in the Explanatory Announcement No. 1 on Information Disclosure for Companies Offering Their Securities to the Public—Extraordinary Gain/Loss Items □ Applicable √ Not applicable No such cases for the reporting period. 7Chongqing Changan Automobile Company Limited 2024 Annual Report Chapter 3 Management Discussion and Analysis I．Industry Overview in 2024 1. The industry analysis The year 2024 marked a pivotal stage in accomplishing the objectives outlined in China’s 14th Five-Year Plan.Confronted with escalating external pressures and increasingly complex domestic challenges the Chinese government proactively implemented the “Dual Priorities” and “Dual Renewal Initiatives” at the national level.These measures substantially reinforced investment stability and unleashed consumption potential. Notably since September 2024 a series of incremental policy packages have been progressively implemented yielding tangible results in restoring market confidence and driving a distinct economic rebound. At the industry level the automotive sector has taken the lead in innovation-driven development of advanced productive forces. Through accelerated new product launches and enhanced product performance manufacturers have consistently met market demands.Concurrently the two-phase “Trade-in” policies with progressively intensified incentives implemented throughout the year has effectively unlocked latent consumption potential in the automobile market. While expanding the market share of new energy vehicles it has also promoted the green development of China's automobile industry laying a solid foundation for the high-quality development of the automobile industry and becoming an important driving force for economic growth. The specific situation of the automobile industry during the reporting period is as follows: In 2024 China's automotive industry sold a cumulative total of 31.436 million vehicles with a year-on-year increase of 4.5%. Following 2023 the market size once again surpassed the 30 million mark. The overall market sales throughout the year showed a trend of “low at the beginning and high at the end”: at the start of the year due to the official price cuts by multiple automakers industry competition intensified leading to the release of some consumer demand. In the first quarter the industry’s sales volume rose by over 10% year-on-year. However constrained by factors such as the macro-economic pressures weak domestic demandand consumer confidence along with a wait-and-see attitude triggered by market competition the industry's growth momentum weakened notably in the second quarter. In the second half of the year driven by multiple factors such as the strengthened implementation of the “Trade-in” policy and the rising demand for self-driving trips during holidays the vitality of the automotive market rebounded with demand being continuously released. The industry showed clear signs of recoveryas sales climbed month by month through the end of the year. The main characteristics of the industry throughout the year are as follows: Firstly the industry has continued to expand in scale. Supported by a series of policies aimed at expanding domestic demand and optimizing the economic structure China's automobile market maintained a scale of over 30 million vehicles in 2024 marking the fourth consecutive year of growth. The strong growth of new energy vehicles has driven the market share of Chinese brand passenger cars to 65.2% indicating that Chinese brands have secured a dominant position in the increasingly competitive automotive market.Secondly the transformation of new and old driving forces in the industry has accelerated accompanied by the optimization and upgrading of the industrial structure. New energy vehicles and exports emerged as the primary new drivers of the growth for China's automotive industry in 2024. The production and sales scale of new energy vehicles has exceeded 10 million units for the first time demonstrating robust growth momentum. The domestic penetration rate of NEVs exceeded 50% for four consecutive months starting from August. Meanwhile significant progress has been made in expanding overseas markets with annual export reaching 5.859 million vehicles a record high. The global automotive industry landscape is undergoing rapid transformation.Thirdly industry competition has intensified further. From “electric vehicle being priced lower than ICEvehicles” to “price reductions across both fuel and electric vehicles” traditional Chinese auto brands new energy vehicle startups and even joint-venture brands have entered the frayfueling increasingly fierce price competition in the industry and posing challenges to the profitability of enterprises. A full-scale rivalry is unfolding between established automakers and new entrants with the latter rapidly gaining ground through innovative advantages while traditional automakers are leveraging their brand heritage and supply chain strengths to stay competitive. In addition digital traffic has emerged as a new factor of production and Internet-based social media platforms have become a critical battleground for brand marketing. New players have significantly boosted product visibility through innovative marketing strategies and diverse communication channels creating substantial pressure on traditional brands. 8Chongqing Changan Automobile Company Limited 2024 Annual Report Automobile sales and growth rate in China from 2004 to 2024 Unit: 10000 units 50.0% Sales Volume Growth Rate 3500 46.1%3144 3009 2888 40.0%280328083000 262726862577 2460253132.4% 30.0%23492500 2198 25.1% 21.8%1931 20.0%180618512000 15.5% 13.5%13.9%13.7% 12.00% 10.0%13641500 6.7%6.9% 4.3%4.7% 8799382.5%3.0% 3.8%4.50% 2.1% 0.0%1000 722-2.8%-1.9% 507576 -8.2% -10.0%500 -20.0%0 200420052006200720082009201020112012201320142015201620172018201920202021202220232024Source: The above data/information is sourced from the “China Automobile Industry Production and SalesExpress” published by the China Association of Automobile Manufacturers(CAAM) and its industry information releases 2. ChangAn’s performance In 2024 ChangAn marked its fortieth year in the civilian automobile market and it was also a pivotal year for the deepening of its digital and intelligent transformation. Confronted with the intricate internal and external environment ChangAn fully embraced the new development philosophy steadfastly adhered to the overarching direction of the “Third Business Venture- Innovation & Entrepreneurship Program” and dedicated itself to promoting high-quality development of the enterprise. The “Three Major Plans” (namely Electrification-“MissionOf Shangri-La” Intelligence-“Dubhe Plan” and Globalization-“Vast Ocean Plan”) were advanced in a coordinated manner. The Company actively addressed challenges such as intensified market competition achieving steady growth in its Chinese-branded vehicle segment a turnaround in its joint-venture vehicle segment and robust expansion in its new energy and export segments. These achievements injected fresh momentum into the Company and significantly bolstered the steady increase of its market share. In 2024 ChangAn achieved annual sales of 2.684 million vehicles reaching a seven-year high with a year-on-year increase of 5.1%. This also marked the fifth consecutive year of year-on-year positive growth. The Company’s new energy vehicle sales and export volume both hit record highs. Specifically ChangAn’s new energy vehicles sold 0.735 million units throughout the year a year- on-year increase of 52.8% and its overseas sales reached 0.536 million units a year-on-year increase of 49.6%. 3. Industrial policies The automotive industry is a pillar of the national economy under the new development paradigm and an important engine for driving high-quality development. To promote automobile consumption consolidate and expand the development advantages of new energy vehicles the Chinese government has introduced a series of supportive policies. In January 2024 the Ministry of Industry and Information Technology (MIIT) and otherdepartments jointly issued the “Notice on Launching Pilot Applications of ‘Vehicle-Road-Cloud Integration’ forIntelligent and Connected Vehicles” supporting city level pilot applications of vehicle-road-cloud integration and further promoting the industrial development of ICVs. In February 2024 the Ministry of Commerce and otherdepartments jointly issued the “Opinions on Supporting the Healthy Development of Trade Cooperation in NewEnergy Vehicles” aiming to bolster the rapid global expansion of NEVs. In March 2024 the Ministry of Commerce and other departments jointly released the “Action Plan for Promoting the Trade-in of Consumer Goods”. In Aprilthe Ministry of Commerce and other departments jointly issued the “Implementation Rules for Subsidies onAutomobile Trade-in”. In August the Ministry of Commerce and other departments jointly issued the “Notice onFurther Improving the Work Related to Automobile Trade-in” further raising subsidy standards intensifying efforts to implement trade-in policies and promoting the further release of automobile consumption potential. In July 2024 the General Office of the State Council issued the "Work Plan for Accelerating the Construction of a Dual Control System for Carbon Emissions". In August the Ministry of Ecology and Environment and other departments jointly issued the “Implementation Plan for Establishing a Carbon Footprint Management System”. In November the MIITissued the “Guidelines for Formulating Carbon Footprint Accounting Rules and Standards for Key IndustrialProducts” accelerating the construction of a dual control system for total carbon emissions and intensity actively and steadily promoting carbon peak and carbon neutrality and speeding up the green transformation of the development model.In 2024 automotive market access regulations primarily focused on the field of ICVs. According to the “Noticeon Carrying out Pilot Work on the Access and On-Road Operation of Intelligent and Connected Vehicles” after the voluntary application of consortia composed of automobile manufacturers and users approval from the local 9Chongqing Changan Automobile Company Limited 2024 Annual Report governments where the vehicles are intended to operate and the review and recommendation by provincial competent departments the MIITand four other departments organized experts to conduct preliminary reviews and select the best from the first batch of centralized applications. On June 4 2024 the first batch of nine consortia that entered the pilot was released with ChangAn ranked first on the list.II. Analysis of Core Businesses in 2024 The Company is an automobile manufacturing enterprise and its main businesses include vehicle R&D manufacturing and sales as well as engine R&D and production. Simultaneously the Company actively develops three-electric technologies represented by batteries motors and electronic controls intelligent technologies such as smart cockpits and smart driving and new businesses such as automotive life services new marketing and battery swap services. Furthermore the Company accelerates the exploration of future industries such as industrial finance used cars humanoid robots and eVTOL aiming to build a comprehensive industrial ecosystem.The Company has always adhered to its mission of “leading sustainable mobility and benefit human life” and firmly promoted ChangAn’s “Third Entrepreneurship-Innovation and Entrepreneurship Plan”. It is accelerating its transformation into an intelligent low-carbon mobility technology company and striving to become a world-class automobile brand. The Company has been actively developing intelligent connected new energy vehicles and has built three major brands: CHANG-AN DEEPAL and AVATR. Among them CHANG-AN has built three major brand sequences: CHANG-AN UNI CHANG-AN NEVO and CHANG-AN LCV forming a matrix of differentiated independent brands. Additionally the Company has developed joint venture brands including CHANG-AN Ford and CHANG-AN Mazda. In the field of internal combustion engine vehicles the Company has launched a series of classic Chinese-branded models including the CS series EADO series and UNI series; its joint ventures have a number of well-known products such as the new-generation Mondeo new-generation Navigator CX-5 and Axela.In the field of new energy sector it has created NEV models such as CHANG-AN NEVO E07 A07 A05 Q05 DEEPAL S07 S05 SL03 G318 L07 AVATR 11 12 07 and CHANG-AN Mazda EZ-6 CHANG-AN LCV V919 CHANG-AN HUNTER and LUMIN and is committed to providing consumers with superior products and service experience.Changan adopts the business model of “equal emphasis on self-owned and joint venture brands” and carries out entity operation of its own auto brand business such as UNI NEVO DEEPAL and Kaicheng and firmly builds its own classic brands. We manage investment over joint ventures such as Changan Ford and Changan Mazda and continue to deepen mutual trust and cooperation with partners. 1. ChangAn’s business development in 2024 (1) Strengthen strategic direction and comprehensively accelerate transformation and upgrading The “Mission of Shangri-La” for new energy development was advanced in depth. In the new energy vehicle market the sales scale rapidly increased with monthly sales exceeding 100000 units for the first time and the penetration rate steadily increasing. The sales structure further aligned with market demand. In terms of industrial layout the Company signed a memorandum of comprehensive and in-depth cooperation with Contemporary Amperex Technology Co. Ltd. (hereinafter referred to as “CATL”) and both parties would carry out all-round cooperation in areas such as technological innovation and overseas market development. AVATR completed its Series C financing with existing shareholders significantly increasing their capital contributions and new shareholders actively joining indicating promising future development. AVATR signed a supplementary agreement to the deepened strategic cooperation agreement with CATL which would further deepen cooperation in areas such as the priority application of new technologies. The Company together with its partners established Chenzhi Anqi (Chongqing) Recycling Technology Co. Ltd. to expand into the battery recycling and reuse industry further improving the new energy industry chain ecosystem.The “Dubhe Plan” for intelligent development achieved new milestones. The Company fully upgraded its strategic cooperation with Huawei Technologies Co. Ltd. (hereinafter referred to as “Huawei”) covering multiple fields such as brand and ecosystem cloud and AI technology green energy and industrial chain. As the first automaker to invest in Shenzhen Yinwang Intelligent Technology Co. Ltd. AVATR and Huawei jointly supported its future development. The ChangAn Digital and Intelligent Factory a globally leading full-domain 5G digital and intelligent factory was officially unveiled and awarded a plaque. It widely applied more than 40 advanced technologies such as 5G AI and digital twin marking the manufacturing process’s full entry into a new stage of digitalization and intelligence. The Company also signed a cooperation agreement with EHang Holdings Limited with plans to jointly research and develop eVTOL promoting the development of the low-altitude industry and the ecological growth of the future transportation sector.The “Vast Ocean Plan” for globalization entered the “fast lane”. The first batch of DEEPAL L07 and DEEPAL S07 models were officially delivered to Thai customers. ChangAn established overseas subsidiaries in countries such as Mexico and Germany to accelerate local operations. DEEPAL signed a strategic cooperation agreement with Altayer Motors a renowned automobile distribution group in the United Arab Emirates to jointly promote the entry of DEEPAL products into the UAE market. Moreover ChangAn’s smart factory passed the European Union E32 10Chongqing Changan Automobile Company Limited 2024 Annual Report filing review at one go signifying that its overseas products meet the regulatory requirements for sales in the European Union and laying a solid foundation for its global expansion. (2) Persist in product innovation and break through key core technologies The new product lineup was completed in an orderly manner. The mass production and delivery of new/upgraded digital and intelligent products such as CHANG-AN NEVO E07 AVATR 07 the fourth-generation CHANG-AN UNI CS75 PLUS DEEPAL S07 DEEPAL S05 and CHANG-AN Mazda EZ-6 were completed. The dual-power versions of AVATR 11/12 and the new highly-appealing versions of CHANG-AN NEVO A07/A05/Q05 were launched. The physical models of future products like DEEPAL S09 CHANG-AN NEVO Q07 and AVATR 06 were unveiled fully demonstrating ChangAn’s strength in digital and intelligent products. Among them the first digital and intelligent new car CHANG-AN NEVO E07 successfully integrated seven technological achievements into mass production including the SDA TS architecture TS large model TS intelligent driving TY OS TY intelligent cockpit TH intelligent chassis and TY intelligent range-extender providing a vivid explanation and new practice for “Software-defined Vehicles”. Meanwhile the DEEPAL S07 standed out in its class with its advanced technological features combining DEEPAL’s super range-extender and Huawei’s Qiankun intelligent systemdelivering a high level of technological innovation.Key technological achievements were successfully translated into real-world applications. In the field of new- energy batteries the Company jointly released the diaphragm-free solid-state lithium-battery technology with Chongqing Tailan New Energy Co. Ltd. which had four advantages: high safety high energy density controllable cost and large-scale mass-production feasibility. The series of products of CHANG-AN TH distributed electric drive platform successfully rolled off the production line. It integrated 5 globally first-launched technologies and more than 20 industry-advanced technologies and was the best power solution for achieving cross-domain integration of the power chassis and supporting the super-perception decision-making and execution capabilities of intelligent driving. In the field of intelligent software technology relying on the self-developed CHANG-AN TY OS operating system CHANG-AN TS large model and full-scenario multi-modal AI cockpit the CHANG-AN TY intelligent cockpit achieved industry-first functions such as AI voice programming multi-intention voice vehicle control and “visible and speakable” interaction. The new intelligent BlueCore powertrain platform was launched enabling a single power system to freely select and lock the plug-in hybrid and range-extender modes with one-key operation achieving a globally-leading oil-to-electricity conversion rate of 3.63 kWh per liter of gasoline. In addition the Company took the lead in formulating the national standard for autonomous driving classification and was approved as one of the first pilot units for L3-level intelligent connected vehicles in China. (3) Focus on user needs and quickly respond to market changes Guided by the principle of “expanding existing markets and capturing new opportunities” the Company remained committed to “dual enhancements”—improving both its new energy and traditional fuel vehicles—tosolidify its competitive edge in the market. Initiatives such as the “CHANG-AN Billion-Yuan Car PurchaseFestival” were launched to the impact of industry price fluctuations while targeted marketing campaigns such as “National Subsidy Local Subsidy CHANG-AN Subsidy” capitalized on the national “Trade-in” policy to drive sales growth. The Company actively revitalized its existing market share in the ICE vehicle market maintaining a strong position in key segments. The EADO series secured the second spot in the Chinese brand compact sedan market with a steady increase in market share. The CS75 series achieved cumulative sales of over 220000 units ranking among the top in its segment. The monthly sales of CHANG-AN CS55 series exceeded 10000 units with cumulative global sales surpassing one million units. In the new energy market multiple products rapidly gained momentum and AVATR's annual sales doubled year-on-year with sales exceeding 10000 for three consecutive months. The DEEPAL S05 garnered over 10000 orders within 10 days of its launch and the annual sales volume of the DEEPAL S07/S7 exceeded 110000 units. Within the year DEEPAL Automobile celebrated the production of its 400000th vehicle setting a new record in its segment by reaching this milestone in just 29 months.The restructuring of the marketing system progressed steadily. The “Thousand Stores Ten ThousandTouchpoints” channel expansion plan was systematically implemented enhancing market coverage. The Cloud Atlas service platform now fully operational serves as a multi-brand shared service platform built on the principles of “lower costs higher efficiency and superior experiences.” It enabled intelligent marketing capabilities through online platform integration offline scenario-based engagement and high-experience service delivery. In response to the intense competition for digital traffic the Company pioneered innovative brand communication strategies. Senior executives and employees actively engaged in livestreaming initiatives leveraging role-specific IP accounts to amplify brand influence. Flagship user interaction platforms such as “Lao Zhu’s Talk” and “Jun Ge’s Auto Insights” were launched fostering direct connections between the brand and diverse consumer segments.The service ecosystem underwent a comprehensive upgrade. Centered on a “customer-first” philosophy a “smart proactive and professional” service identity was established across the full lifecycle of “purchase ownershipmaintenance and support.” The upgraded “Five Commitments to Smart Service” further elevated customer satisfaction. Overseas operations achieved a milestone with the launch of the “withU” customer care program marking the establishment of structured customer service capabilities in international markets. The Middle East regional spare parts hub commenced operations advancing the phased deployment of a global service network.ChangAn achieved a historic breakthrough in the J.D. Power 2024 Sales Satisfaction Index (SSI) surpassing the 11Chongqing Changan Automobile Company Limited 2024 Annual Report mainstream brand average for the first time and setting a new record. 2. Blockbuster products launched in 2024 AVATR 07 jointly developed by ChangAn Huawei andCATL is positioned as a “smart and luxurious urbanSUV” and stands as the third model built on CHN’s new generation of intelligent electric vehicle technology platform. The vehicle integrates five intelligent technologies: Huawei Qiankun Intelligent Driving Kunlun Intelligent Range extender Taihang Intelligent Control Chassis CATL Shenxing Supercharged Battery and HarmonyOS Intelligent Cockpit. With its futuristic design premium urban luxury interior and top-tier AVATR 07 safety features AVATR 07 redefines the standards for intelligent electric mobility.The DEEPAL S07 a global strategic model fromDEEPAL Automobile is positioned as a “tech-drivennew mainstream mid-size SUV”. It combines two core strengths: DEEPAL’s super range-extender and Huawei’s Qiankun intelligent system along with three standout features: sleek design superior performance and precise control delivering a cutting-edge intelligent mobility experience for users.DEEPAL S07 The DEEPAL S05 is the first compact SUV under the DEEPAL brand positioned as a “colorful life recorder” and an intelligent interactive vehicle with built-in photography and projection capabilities. It comes equipped with DEEPAL 4K intelligent PTZ camera DEEPAL megapixel intelligent headlights and standard DEEPAL AD PRO intelligent driving assistance solution. Also it features a large die-casting body CTV battery-body integration technology CATL battery cells with 3C supercharging and dual power options (pure DEEPAL S05 electric and range-extended) offering young buyers a fresh and versatile choice.The DEEPAL G318 is a rugged SUV featuring air suspension and dual motor four-wheel drive with 16 driving modes and a torsional stiffness of 45000N.m/deg which delivers exceptional off-road capabilities. Powered by DEEPAL Super Range Extender 2.0 it achieves a remarkably low fuel consumption of just 6.1L/100km cutting the fuel consumption of traditional rugged SUVs by half.Additionally it comes with a premium comfort package including air suspension CDC and an active magic carpet system along with a body length of over 5 DEEPAL G318 meters providing ample cargo space. 12Chongqing Changan Automobile Company Limited 2024 Annual ReportDEEPAL L07 is positioned as a “tech-savvy intelligentmid-size sedan” with a focus on intelligent technology.As the first sedan under 200000 yuan to feature Huawei Qiankun Intelligent Driving ADS SE it combines DEEPAL super range extender with Huawei Qiankun Intelligent Driving delivering a fuel consumption of 3.8L per 100 kilometers in charge-sustaining mode and a pure electric range of 300 kilometers. The entire lineup comes standard with 3C supercharging. Equipped with front dual zero gravity seats an intelligent electric DEEPAL L07 spoiler and comfort-tuned suspension it delivers a smooth and comfortable driving experience.The CHANG-AN NEVO E07 is an intelligent transformer SUV with transformable body style fantastic features and programmable software. Featuring versatile functions and adaptable design it can switch between 5 modes at the touch of a button: SUV sedan coupe expansion and off-road. Built with integrated die-casting technology and equipped with 9 safety airbags it ensures peace of mind for every journey. As an industry first model it features anthropomorphic interaction and voice programming capabilities making CHANG-AN NEVO E07 it the ultimate solution for “all scenario all purpose” driving experiences.The new and highly-appealing CHANG-AN NEVO A07is positioned as a “premium mid-to-large digitalintelligent sedan” offering two powertrain options: pure electric and extended-range versions. With an impressive pure electric range of up to 710/625 kilometers 3C fast charging and L2+TS intelligent driving as standard across the entire lineup it stands out with five advanced strengths: power range digital intelligence quality and safety. Whether it’ s long drives quick charges or everyday versatility the NEVO CHANG-AN NEVO A07 new and highly- A07 is built to excel.appealing version The new and highly-appealing version of CHANG-AN NEVO Q05 is the first plug-in hybrid SUV under CHANG-AN NEVO brand sequence positioned as the “Smart New BlueCore Five-Star SUV”. Powered by the intelligent new BlueCore 3.0 hybrid engine and paired with iEM advanced intelligent power control system it delivers long range and robust performance. It has a pure electric range of 125 kilometers and a combined range of 1215 kilometers. Equipped with a 540 ° high- definition panoramic imaging system and a dashcam and sentry mode it provides comprehensive driving s afety. Additionally it features L2 level intelligent CHANG-AN NEVO Q05 new and highly- driving assistance HiCar/Carlink smartphone appealing version connectivity a hands-free tailgate offering both convenience and cutting-edge technology.. 13Chongqing Changan Automobile Company Limited 2024 Annual Report The fourth generation CS75PLUS is positioned as the “vehicle of tomorrow”. Featuring the world's first 500Bar high-pressure direct injection new BlueCore engine an Aisin 8-speed automatic transmission as standard across the lineup it delivers powerful and efficient performance. It also comes standard with practical intelligent driving features such as L2 level intelligent driving assistance APA 5.0 remote parking and a 540° high-definition panoramic imaging system.The fourth generation CS75PLUS The second-generation CHANG-AN UNI-V is designed to be the first sports coupe for young people. Featuring a sleek and low fastback silhouetteand a standard intelligent electric spoiler— unique in its class— it delivers a fresh and exciting experience for young consumers. The vehicle offers both fuel and hybrid powertrain options. The new energy variant is equipped with the Smart New BlueCore powertrain platform supporting plug-in hybrid and extended range options with a combined range of 1160 kilometers.The second generation CHANG-AN UNI-V The third generation EADO is positioned as a premium- quality new family sedan for millions of users. The entire lineup comes standard with a 540 ° high- definition panoramic image system a wrap-around smart luxury cockpit an ark cage safety body structure and a smart new BlueCore powertrain. With 12 years of quality refinement it has become the trusted choice of The third generation EADO 1.7 million users.CHANG-AN HUNTER is positioned as the world's first super range-extended pickup truck. Equipped with a 2.0T BlueCore range extender a dual motor layout at the front and rear it delivers a peak torque of 470N·m and accelerates from 0 to100 km/h in just 7.9 seconds. It features the industry's first “one click power boost” mode “22kW full-scenario charging and discharging” capability and ten driving modes pioneered in the pickup segment. With its "powerful efficient and versatile" value proposition it redefines the benchmark for pickup truck technology and meets users' all scenario travel needs.CHANG-AN HUNTER 14Chongqing Changan Automobile Company Limited 2024 Annual Report 3. Key models planned for 2025In 2025 ChangAn will further expand its global market presence and adhere to the principle of “strengtheningexisting markets and capturing new opportunities”. The Company plans to launch multiple new and upgraded products including seven new energy vehicles accelerating its transformation into an intelligent low-carbon mobility technology company. (1) Complete NEV lineup and focus on creating digital intelligent vehicles. In 2025 the Company will seize new opportunities in the digital intelligence market and plan to quickly launch seven new energy products including AVATR 06 DEEPAL S09 and CHANG-AN NEVO Q07. At the same time the Company will accelerate the revitalization of multiple products such as DEEPAL L07 DEEPAL G318 and CHANG-AN NEVO A07 further consolidating ChangAn’s position in the NEV market.The AVATR 06 is positioned as a smart and stylish sports sedan. It is centered around three core values: intelligent and elegant design a luxurious cockpit and an intelligent system. It is equipped with six cutting - edge technologies including the Kunlun Extended - Range System dual 5C ultra - fast charging and the Taihang Intelligent Control Chassis meeting the vehicle - using needs of young users. The DEEPAL S09 is positioned as a full-size flagship SUV delivering industry-leading features such as a spacious and versatile interior advanced intelligent driving super range extender 3.0 technology and over 10 best-in-class experiences meeting needs of families for an enjoyable and comfortable living space. The Q07 is positioned as a family-oriented intelligent five- seater SUV offering exceptional space leading energy efficiency and superior intelligence catering to the needs of the new generation of mainstream family users. (2) Equip ICE vehicles with versatile powertrain options and create classic products. In 2025 the Company will continue to strengthen its ICE vehicle portfolio by revitalizing its IP products and diversifying powertrain options to continuously create classic products. The Company plans to launch six major IP products including CHANG-AN CS75PLUS CS55PLUS and EADO. These models will feature upgrades such as 500Bar new BlueCore powertrain upgrade and expanded PHEV/HEV power options strengthening their competitive edge and consolidating their position in the ICE vehicle market. (3) Accelerate the layout of overseas products and implement the “Vast Ocean Plan”. In 2025 the Company will accelerate its overseas product strategy planning to launch global products such as the DEEPAL S05 and introduce 12 products in high-growth regions such as Southeast Asia Europe the Middle East and Africa and Central and South America. Meanwhile the Company will strengthen international partnerships jointly explore global markets and expedite the entry into new overseas markets particularly in the NEV sector.Note: The features and configurations mentioned in “II. Analysis of Core Business in 2024” in Chapter 3 are for reference only and do not represent actual vehicle specifications. The official product configuration table shall prevail.Vehicle manufacturing production and operation during the reporting period √ Applicable □ Not applicable Production and sales of vehicles Production Volume (Unit) Sales Volume (Unit) YoY YoY 2024 2023 increase/decrease 2024 2023 increase/decrease (%)(%) By Region Domestic 2625658 2583215 1.64% 2147602 2194598 -2.14% Overseas 0 0 0 536196 358454 49.59% Total 2625658 2583215 1.64% 2683798 2553052 5.12% Note: 1. The above sales and production volume includes vehicles produced and sold by the Company and its JVs and associates. The above-mentioned automobile production and sales data are the statistics of the company and its affiliated joint ventures and associated enterprises. The aggregated revenue corresponding to the full - scope sales volume mentioned above is approximately RMB 271.2 billion. 2. Production capacity status: In 2024 the designed production capacity was 2.25 million vehicles and the capacity utilization rate reached 84%. In the past three years outdated production capacities of 510000 complete vehicles and 840000 engines were shut down transferred or reorganized. The production capacities of 850000 intelligent connected and new - energy complete vehicles were upgraded through renovation. New production capacities of 580000 sets of new - energy battery packs 750000 sets of electric drives and 500000 sets of electric controls were established. The production capacity structure is gradually being adjusted towards new - energy vehicles.Cause description of over 30% year-on-year increase/decrease √ Applicable □ Not applicable Mainly due to the following reasons: Firstly the Chinese automotive industry is currently accelerating its all- round expansion into overseas markets and vehicle exports have become a new growth point for automotive 15Chongqing Changan Automobile Company Limited 2024 Annual Report enterprises. Secondly in 2024 Changan Automobile accelerated the implementation of its global “Vast Ocean Plan” plan. It strengthened local operations by establishing three overseas subsidiaries in Mexico Germany and the Netherlands and accelerated market expansion. The company successfully held brand launch events in the Middle East and Africa Central and South America Southeast Asia etc. Meanwhile it strengthened channel construction completed the formulation of global product and production capacity plans and established new overseas sales outlets. As a result significant progress has been made in its globalization strategy.Construction of parts supply chain system ChangAn's main models covers CHANG-AN UNI CHANG-AN NEVO DEEPAL AVATR CHANG-AN LCV etc with parts sourced through a hybrid model of in-house production and strategic external procurement. The Company is collaborating with CATL to accelerate breakthroughs and applications of next-generation battery technologies. In addition it is engaging in joint R&D initiatives with Zhongguang Optics Huanan Optoelectronics Huazhong Marelli and Qingshan Industrial to enhance supply chain capabilities. In terms of procurement principles the Company adheres to “equality mutual trust transparency security and collaborative resilience” and continuously implements the strategy of “one vehicle one policy; one product one policy; one partner one policy” to build customer-centric strategic partnerships and achieve risk sharing. In terms of risk management the Company has developed a “1+1+1” procurement strategy (1 primary+1 secondary+1 backup supplier) for standard parts toensure supply chain resilience. In terms of industrial chain construction the Company is building a “whole-zerocollaboration” industrial ecosystem leveraging its role as a “chain leader” to accelerate technological breakthroughs.It actively promotes a cooperation mode of “joint technology development cost sharing shared intellectual propertyand shared benefits” with partners safeguarding the rights and interests of both parties and achieving mutual benefit and win-win results. In terms of transparent management ChangAn has launched a supplier service platform providing partners with a seamless mobile channel for accessing business information.The production and operation of auto parts during the reporting period □Applicable √ Not applicable The company conducts auto finance business □Applicable √ Not applicable The company conducts NEV-related business √ Applicable □ Not applicable Production and operation of new energy vehicles and parts Production Capacity By Category Production Volume (unit) Sales Volume (unit) (unit) New Energy Passenger Vehicle 1450000 665843 674923 New Energy Commercial 1700006141659692 Vehicle Total 1620000 727259 734615 Note: The revenue from the sales of new energy vehicles within the scope of the company's consolidated financial statements is RMB 38545 million in the reporting period.III. Core Competence Analysis (1) Strategies. The Company resolutely adheres to and implements its guiding strategies. Under its three-year plan five-year outlook and ten-year vision substantial steps have been taken towards three strategic plans as it promotes innovation and entrepreneurship and transforms into an intelligent low-carbon transportation technology provider: in terms of new energy the Company accelerates the development of next-generation battery technology and full lifecycle management. In terms of advanced intelligence the Company announced Dubhe Plan 2.0 as it seeks to popularize autonomous driving while strengthening the forward-looking technologies such as humanoid robots and electric vertical takeoff and landing (eVTOL). In terms of globalization the Company will accelerate its efforts to go global build up local capabilities set up overseas subsidiaries hold multiple regional brand launch events in the Middle East Africa Southeast Asia and other regions enter multiple markets and continuously improve its production capacity and sales network abroad. (2) Technological research and development capabilities. The Company always maintains a strategic focus 16Chongqing Changan Automobile Company Limited 2024 Annual Report on technological innovation driving high-quality development with solid technological advantages. Improvements have been made to the product development process which now features a four-tiered system. In the field of advanced intelligence seven core technologies covering chassis large language model and autonomous driving (AD) have been released. Breakthroughs have been made in over 70 technologies such as hydraulic suspension and steering by wire. 45 innovative functions have been realized such as tank turn. The Company has mastered key technologies such as the central computing platform and Ethernet ring network communication. It is the first in China to mass produce unified DDS (Data Distribution Service) protocol stack making vehicle systems more secure and reliable.It has also developed an autonomous driving assist system whose door-to-door valet parking system premiered on DEEPAL SL03i as another step towards popularizing AD. In the new energy field the Company has built a Golden Shield battery system that has never caught fire. It has mass-produced the 5C high-voltage fast-charging technology that replenishes the battery from 30% to 80% in less than 10 minutes. Other technologies include the New BlueCore 3.0 now available on CHANG-AN A07 and Q05 and multiple proprietary range-extending systems. It pioneered the PREV technology. At the end of 2024 the Company held 11.7 thousand valid patents including 3881 invention patents. Meanwhile it has won awards such as the Gold Award for Chinese Invention Patents and the Gold Award for Design Patents. (3) Product definition capabilities. The Company puts users at the center and stays innovation-driven as it builds world-class product definition capabilities. It thoroughly investigates market and competition trends clarifies the segmentation criteria for global product planning coordinates the formation of product action plans for key countries and creates differentiated product definitions. It continues to form planning milestones and application plans for company level hardware and system products as it enhances product planning and definition through both demand and technology. It improves product operation and product portfolio strategy continuously clarifies the target of each product pushes for regular renewal and substitutions and enhances market competitiveness. The Company's key products in 2024 have performed well. CHANG-AN NEVO has totaled 150000 units in sales since launch while monthly sales exceeded 30000 units for CS75 models. The Company will continue to focus on user experience core scenarios and create products with competitive advantages. (4) Intelligent manufacturing capabilities. The Company adheres to high-quality sustainable development by upgrading intelligent manufacturing with digitalization and intelligent technologies. The application of intelligent manufacturing technology is accelerating as ChangAn Digital Intelligent Factory entered operation. With CA-CPS the Company’s efficient manufacturing system the factory fully applies over 40 advanced technologies such as integrated software sealing and testing and uni-casting to 16 scenarios including scheduling dispatching and AI visual inspections. It uses 5G end-to-end features to connect production equipment personnel materials and process data on a large scale compatible with intensive production of DEEPAL S05 AVATR 07 and CHANG-AN E07.Intelligent manufacturing allows for high-quality delivery of products. The Company was awarded the title of Automotive Manufacturing Super Factory by CATARC. (5) Brand building capabilities. The Company is building a worldwide brand value system takes an innovative approach to brand promotion so that its brands move up. On that note we have built a brand architecture that works globally successfully held the 4th ChangAn Ecosystem Conference and released multiple technologies such as New BlueCore 3.0. The Company is strengthening its brand imprint as a global pioneer in the popularization of digital intelligent vehicles to significant effect. In terms of brand promotion the Company continues to be driven by its globalization strategy as it held launch events in Latin America the Middle East and Africa with region- specific products. CHANG-AN NEVO has worked with Jay Chou giant pandas and Yuhui Dong to promote its products and increase favorability and popularity. DEEPAL targets young people with convincing technologies and an international image. The Company has asked its senior managers and all other employees to tell its story. (6) Cultural leadership. The Company adheres to cultural leadership and actively assumes corporate social responsibility. 160 years since its founding the Company has innovated adapted and persisted in face of changing environments. It has prioritized cultural leadership by holding events such as the story-telling event 40 Years as a Carmaker and employee performances. The Company cares about its employees. It implemented an employee well- being program 63 sessions of various mental health counseling the 8th Employee Sports Contest and a group wedding to create a warm caring and positive cultural atmosphere. The Company fulfills its CSR by providing targeted assistance to Luxi and Yanshan counties in Yunnan Province and Youyang in Chongqing. It strengthened its ESG initiative and ranked among China ESG Listed Companies Top 100. It actively assisted the flood stricken areas in northern Thailand and contributed to global public welfare undertakings. It participated in forming the Luban Workshop and provided professional automotive training in Peru. (7) Talent and organizational capabilities. The Company keeps improving the organizational structure and human capital to stimulate vitality and motivation. It pushes for organizational transformation on a global scale under the principles of small headquarters business group clusters independent brands and shared development.Resources are focused on products marketing branding foreign markets and other areas. The Company increases efficiency with smaller meetings effective actions and minimal process. It looks for professionals on free markets across the world as it steps up recruitment of leading talents in styling And battery big data and other areas. The Company’s workforce consists of people from 31 countries and regions underpinning its strategic transformation.The Company explores innovative employee incentives to drive revenue and profitability growth by setting up ambitious targets encouraging employees to have a stake in their projects and deferring bonus payout. 17Chongqing Changan Automobile Company Limited 2024 Annual Report IV. Analysis of Main Business 1. Overview Compared with 2023 the company's operating revenue was 159.733 billion yuan a year-on-year increase of 5.58%; The net operating cash flow was 4.849 billion yuan a year-on-year decrease of 75.58%. The net profit attributable to shareholders of the listed company during the reporting period was 7.321 billion yuan a year-on-year decrease of 35.37%. The net profit attributable to shareholders of the listed company after deducting non-recurring gains and losses was 2.587 billion yuan a year-on-year decrease of 31.59%.Please refer to “II Analysis of Main Business” under this chapter. 2. Income and cost (1) Revenue 20242023 Proportion Proportion YoY of of increase/decrease Amount (RMB) operating Amount (RMB) operating (%) revenue revenue （%）(%) Operating revenue 159733034213.25 100% 151297706646.97 100% 5.58% By industry Automotive 159733034213.25100%151297706646.97100%5.58% business By product Vehicles 152192280870.19 95.28% 145303581062.21 96.04% 4.74% Services and 7540753343.064.72%5994125584.763.96%25.80% others By region China 127306652839.30 79.70% 130761245570.53 86.43% -2.64% Overseas 32426381373.95 20.30% 20536461076.44 13.57% 57.90% By sales model Distribution 141742229183.09 88.74% 132864188744.96 87.82% 6.68% Direct selling 10450051687.10 6.54% 12439392317.25 8.22% -15.99% Others 7540753343.06 4.72% 5994125584.76 3.96% 25.80% Note: The Company has 3743 dealers at the end of the reporting period. (2) The business products regions and sales model accounting for over 10% of the Company’s operating revenue or operating profit √ Applicable □ Not applicable YoY YoY YoY increase/dec Operating Revenue Operating Cost Gross increase/decreas increase/decreas rease of (RMB) (RMB) margin e of operating e of operating gross income (%) cost (%) margin (%) By industry Automotive 159733034213.25135869023071.4514.94%5.58%8.53%-2.32% business By product Vehicles 152192280870.19 130209923466.53 14.44% 4.74% 7.79% -2.42% By region China 127306652839.30 111937529683.86 12.07% -2.64% 2.08% -4.07% 18Chongqing Changan Automobile Company Limited 2024 Annual Report Overseas 32426381373.95 23931493387.59 26.20% 57.90% 54.01% 1.86% By sales model Distribution 141742229183.09 120691203475.00 14.85% 6.68% 10.34% -2.82% Where the statistical caliber of the main business data of the Company is adjusted the data is subject to the main business data after adjustment according to the caliber of the end of the report period in the latest year.□ Applicable √ Not applicable (3) Whether revenue from physical sales is higher than service revenue √ Yes □ No YoY increase/decrease By business Item 2024 2023 (%) Sales volume (unit) 2683798 2553052 5.12% Production volume 262565825832151.64% Automotive business (unit) Inventory volume 6181166387-6.89% (unit) Note: The above sales production and inventory volume includes vehicles produced and sold by the Company and its JVs and associates. The analysis over market share is based on the data from China Automobile Industry Association.Cause description of over 30% year-on-year increase/decrease □ Applicable √ Not applicable (4) Performance of major sales and purchase contracts as of the end of the reporting period □ Applicable √ Not applicable (5) Cost 20242023 Proportio Proportio YoY By Item n of n of increase/decreas business Amount (RMB) operation Amount (RMB) operation e (%) al cost al cost (%)(%) Product 130209923466. 120801040358. 95.83%96.49%7.79% s 53 28 Automotiv e business Service s and 5659099604.92 4.17% 4389270038.41 3.51% 28.93% others 135869023071.125190310396. Total 100.00% 100.00% 8.53% 45 69 (6) Whether the scope of consolidation was changed during the reporting period □ Applicable √ Not applicable (7) Major changes or adjustment in business product or service of the Company in the reporting period □ Applicable √ Not applicable (8) Major customers and suppliers Major customers 19Chongqing Changan Automobile Company Limited 2024 Annual Report Total sales revenue from top five customer (RMB) 13599639544.96 Proportion of total sales revenue from top 5 customers in annual 8.51% total sales revenue (%) Proportion of total sales revenue from affiliated parties in the top 5.00% five customers in annual total sales revenue (%) The top 5 customers Proportion of annual total No. Customer Revenue (RMB) sales revenue (%) 1 Customer One 3545912925.84 2.22% 2 Customer Two 3044511084.13 1.91% 3 Customer Three 2560954240.83 1.60% 4 Customer Four 2300320803.84 1.44% 5 Customer Five 2147940490.32 1.34% Total 13599639544.96 8.51% Other information regarding major customers √ Applicable □ Not applicable One of the above customers is a joint venture of the Company and two customers are controlled by the same ultimate holding company. Please refer to item 5 of Note 12 “Related Party Relationships and Transactions” in Chapter 10.Major suppliers Total purchase amount from top five suppliers (RMB) 26889268195.61 Proportion of total purchase amount from top five suppliers in annual 19.80% total purchase amount (%) Proportion of total purchase amount from affiliated parties of the top 10.00% five suppliers in total annual total purchase amount (%) Top 5 suppliers Proportion of annual total No. Supplier Purchase amount (RMB) purchase amount (%) 1 Supplier One 8629997498.38 6.35% 2 Supplier Two 5553351208.06 4.09% 3 Supplier Three 5053358710.82 3.72% 4 Supplier Four 4804682273.47 3.54% 5 Supplier Five 2847878504.88 2.10% Total 26889268195.61 19.80% Other information regarding major suppliers √ Applicable □ Not applicable Two of these suppliers are associated enterprises of the company and two suppliers are controlled by the same ultimate holding company. Please refer to item 5 of note 12 “Related Party Relationships and Transactions” in Chapter 10.During the reporting period the proportion of trade business revenue in operating revenue exceeded 10%. □Yes □No √ Not applicable 3. Expenses YoY Change Explanation of Item 2024 2023 (%) major changes Selling expenses (RMB) 7538352413.16 5977551549.91 26.11% Administrative expenses 4401226018.26 4097537529.67 7.41% 20Chongqing Changan Automobile Company Limited 2024 Annual Report (RMB) Financial costs (RMB) -934377313.05 -897343739.80 -4.13% R&D expenses (RMB) 6505446679.24 5979844653.23 8.79% 4. Research and Development Investment √Applicable □ Not applicable Expected impact on Main R&D Intended goals to be the future Project Purpose project progress project name achieved development of the company The Five - seat Consolidate the Complete annual Complete the Large SUV mainstream SUV market development development of a new Develop new products Offering position of domestic tasks and fuel powered vehicle on to enhance market Intelligent and brands and enhance successfully go schedule and launch it for competitiveness Comfortable market competitiveness public sale as planned Experiences Based on the strategy of Complete the“stabilizing the Complete annual development of aThe Compactfoundation” achieve development compact SUV with both Develop new products SUV Combining product renewal and tasks and style and intelligent to enhance market Style and competitiveness successfully go features on schedule and competitiveness Intelligence enhancement and enter public launch and sell it as the UNI brand sequence planned Complete annual Complete the High - end Product renewal value development development of advanced Develop new products Comfortable upgrading and enhancing tasks and comfortable electric car to enhance market Electric Sedan market competitiveness successfully go on schedule and launch it competitiveness public for sale as planned Acquiring new Complete the Complete annual mainstream audiences development of compact New Mainstream development Develop new products through technological and new mainstream electric Compact Electric tasks and to enhance market fashionable product SUV on schedule and SUV successfully go competitiveness positioning and laying launch it for sale as public out the Deepal brand plannedCarrying the “dualcarbon” strategic mission Complete annual Reserve energy Meet the needs of of the country and the research and Research on New consumption technology maximizing benefits company the overall development Automotive shelves optimize energy such as mileage electricity consumption tasks and Power consumption and related improvement for level has reached the top implement the Consumption field development various products and 10% in the industry results for Technology 2.0 processes and enterprise support the company's enhancing the practical standards “dual carbon” strategy competitiveness of the application company's products Complete annual Research on The research and Complete the construction Improve Full - Stack development of integrated die-casting manufacturing Capabilities of Establish integrated die- tasks and process capability and efficiency and support Aluminum Alloy casting full-stack implement the achieve independent and the company's Application in capability results for controllable key core transformation and The Whole practical technologies upgrading Vehicle application Forward looking Complete annual Explore the form of flying Responding to the Research on Key exploration creating research and cars develop functional development of the Technologies of differentiated development prototypes and conduct national low altitude Flying Cars competitiveness in the tasks flight tests economy strategy and 21Chongqing Changan Automobile Company Limited 2024 Annual Report field of low altitude expanding economy opportunities for emerging industries Conduct forward-looking Empowering the research on multi system Golden Bell Cover Developing solid-state and multi technology brand and enhancing Research on Key batteries around materials Complete annual routes for solid-state the competitiveness of Technologies of and battery cells to research and batteries explore feasible the next generation Solid-state enhance safety development paths for solid-state battery industry Battery Systems performance and energy tasks batteries and achieve through research on density breakthroughs in solid- solid-state battery state battery technology technology R&D staff 2024 2023 Change over the previous year (%) Number of R&D staff (person) 12141 10972 10.65% Proportion of R&D personnel 22.03% 22.34% -0.31% Education background -- -- -- High School diploma or below 20018011.11% (person) Bachelor’s degree (person) 8273 7794 6.15% Master’s degree (person) 3550 2903 22.29% Doctor’s degree (person) 118 95 24.21% Age structure -- -- -- Aged below 30 (person) 4051 3718 8.96% Aged 30 - 40 (person) 6596 6096 8.20% Aged above 40 (person) 1494 1158 29.02% R&D Input Change over the previous year 20242023 (%) Amount of R&D Input (RMB) 10159144236.45 9007550532.89 12.78% Proportion of R&D Input in 6.36%5.95%0.41% Operating Revenue (%) Amount of Capitalized R&D 3653697557.21 3027705879.66 20.68% Expenditure (RMB) Proportion of Capitalized R&D 35.96%33.61%2.35% Expenditure in R&D Input (%) Cause and effects of significant changes in composition of the R&D staff □ Applicable √ Not applicable Cause for significant changes in the proportion of total R&D investment in operating revenue from the previous year □ Applicable √ Not applicable Cause and Reasonable Explanation of the major changes of the capitalization rate of R&D investment □ Applicable √ Not applicable 5. Cash Flow Unit: RMB YoY Change Item 2024 2023 (%) Subtotal of cash inflows from operating activities 184043125806.47 174083254307.51 5.72% Subtotal of cash outflows from operating 179193726993.33154221788069.9516.19% activities Net cash flows from operating activities 4849398813.14 19861466237.56 -75.58% Subtotal of cash inflows from investing activities 9789745640.05 6989273666.33 40.07% Subtotal of cash outflows from investing 14103043252.2713197419195.666.86% activities 22Chongqing Changan Automobile Company Limited 2024 Annual Report Net cash flows from investing activities -4313297612.22 -6208145529.33 30.52% Subtotal of cash inflows from financing activities 3141384510.60 1018615006.28 208.40% Subtotal of cash outflows from financing 4532782453.053146923971.8144.04% activities Net cash flows from financing activities -1391397942.45 -2128308965.53 34.62% Net increase in cash and cash equivalents -651581388.11 11434522853.37 -105.70% Description of major influence factors of significant change of relevant data on a year-on-year basis √ Applicable □ Not applicable In 2024 the net cash flow generated from operating activities decreased by 15.012 billion yuan compared to the previous year mainly affected by the suppliers' payment policies payment terms and the increase in overseasexport customs duties and taxes resulting in an increase in “cash paid for the purchase of goods and acceptance ofservices” compared with the previous year.The net cash flow generated from investment activities increased by 1.895 billion yuan compared to the previous year. First the receipt of the disposal proceeds for the land and buildings of the Yubei Factory and the disposalproceeds for the operating vehicles led to an increase in the “net cash received from the disposal of fixed assetsintangible assets and other long - term assets” compared with the previous year. Second the decrease in time deposits that cannot be withdrawn in advance during the reporting period compared with the same period of the previous year led to a decrease in the “other cash payments related to investment activities” compared with the previous year. Third the company's capital increase in Avatr led to an increase in the “cash paid for investments” compared with the previous year.The net cash flow generated from financing activities decreased by RMB 0.737 billion compared to the previousyear mainly due to Changan Kaicheng received external investments which led to an increase in the “cash receivedfrom absorbing investments” compared with the previous year.Cause for the significant difference between net cash flows from operating activities and net profit in the reporting period √ Applicable □ Not applicable As for the significant difference between net cash flows from operating activities and net profit in the reporting period please refer to the Item 66 Note 5 “Supplementary Information of the Cash Flow Statement” in the Auditor’s Report.V. Analysis of Non-Main Business √ Applicable □ Not applicable Proportion of profits Whether it is Amount (RMB) Explanation (%) sustainable or not Please refer to the Item 5 Note 56 Return on investment 187658837.46 2.78% “Investment income” Yes in the Auditor’s Report.Profits or losses of -27460945.49 -0.41% No fair value change Please refer to the ItemImpairment losses on 5 Note 59 “Asset-214488935.20 -3.17% Noassets impairment loss” in the Auditor’s Report.Non-operating 155290275.84 2.30% No income Non-operating 21912265.18 0.32% No expenses VI. Analysis of Assets and Liabilities 1. Major Changes in Asset Composition 31 December 2024 31 December 2023 Increase/ Decrease in Description of significant Proportion of Proportion of Amount (RMB) Amount (RMB) Proportion changes total assets (%) total assets (%) (%) Monetary fund 64182095662.74 30.83% 64871042747.88 34.11% -3.28% Receivables 3398477724.75 1.63% 2411796419.07 1.27% 0.36% 23Chongqing Changan Automobile Company Limited 2024 Annual Report Contract assets 592426824.74 0.28% 1442876966.30 0.76% -0.48% Inventories 17081370658.58 8.21% 13465847696.93 7.08% 1.13% Investment 5969291.920.00%6196003.480.00%0.00% property Mainly due to the impact of Long-term equity 18525675882.50 8.90% 13787391985.47 7.25% 1.65% capital increase in the investment associated enterprise Avatr.Fixed assets 21773526063.55 10.46% 19994084908.14 10.51% -0.05% Construction in 1596384269.600.77%1914345359.831.01%-0.24% progress Right-of-use 273297841.750.13%209480676.040.11%0.02% assets Short-term loans 40036055.69 0.02% 30039416.74 0.02% 0.00% Mainly due to the impact of the increase in advance Contract payments received from 10887896995.495.23%7923792852.774.17%1.06% liabilities dealers as a result of the strong demand for new - energy vehicles.Long-term loans 36000000.00 0.02% 72000000.00 0.04% -0.02% Lease liabilities 269211409.06 0.13% 134254398.07 0.07% 0.06% Mainly due to the impact of the increase in the amount of commercial discounts Other current and allowances to be 12507633539.966.01%8897936399.924.68%1.33% liabilities refunded and the provision for market development expenses as sales volume has increased.Foreign assets account for a relatively high proportion □ Applicable √ Not applicable 2. Assets and liabilities measured at fair value √ Applicable □ Not applicable Unit: RMB Accumulated Provision Changes in Fair Fair Value for Amount of Amount of Sales Opening Value Gains Item Changes Impairment Purchase in in Current Other Changes Closing Balance Balance and Losses in Included in in Current Current Period Period Current Period Equity Period Financial assets Financial assets held for trading (excluding 167519347.29 -9109215.38 3396977.46 155013154.45 derivative financial assets) Investments in other equity 504190082.71 -7665809.18 496524273.53 instruments Subtotal 671709430.00-9109215.38-7665809.183396977.46651537427.98 financial assets Total 671709430.00 -9109215.38 -7665809.18 3396977.46 651537427.98 Financial -18351730.1118351730.11 liabilitiesNote: The trading financial assets and investments in other equity instruments in the table above are detailed in “2.Trading Financial Assets” and “13. Investments in Other Equity Instruments” in Note 5 of Auditor’s Report .Whether there are major changes on measurement attributes for main assets of the Company in reporting period □ Yes √ No 24Chongqing Changan Automobile Company Limited 2024 Annual Report 3. Limitation of asset rights as of the end of the reporting period Unit: RMB Book Value at the End of Item Limitation Reason Period Monetary fund 907719149.74 Deposit and others Bill receivable 6569473317.00 Bill pledge Total 7477192466.74 VII. Analysis of Investments 1. Overall situation √ Applicable □ Not applicable Investment amount for the reporting Investment amount for the previous YoY Change (%) period (RMB) reporting period (RMB) 14917272291.638798279380.1069.55% 2. The major equity investment obtained in reporting period √ Applicable □ Not applicable Profit and Progress Is it Name of Term of loss of Disclosur Disclosur Main Investme Investme Sharehol Source of Product as of the Projected involved invested Partner investme current e date (if e index business nt method nt ding ratio Funds type balance Revenue in company nt investme any) (if any) sheet date litigation nt Chongqin g Changan Please Automob refer to ile Co.the Ltd.Announc Southern ement of Industrial Chongqin Asset g Managem Changan ent Co.Automob Ltd.ile Co.Chongqin Complete Ltd. on g Anyu Avita New car the Capital Private New Technolo sales signing Increase Equity energy Not Not Decembe gy new Capital 4550582 Own of the and 40.99% Investme long-term vehicle Applicabl Applicabl No r 18th (Chongqi energy increase 400 funds investme Related nt Fund complete e e 2024 ng) Co. vehicle nt Transacti Partnersh vehicle Ltd sales etc agreemen ons to ip t Joint Enterpris Ventures e (Announc (Limited ement Partnersh No. 2024- ip) Bank 82) on the of website Communi of Juchao cations Informati Financial on for Asset details Investme nt Co.Ltd. etc Please refer to the Announc Complete ement on Chongqin the Novembe the Changan Automoti g Yufu Automoti signing r 28 Proposed Automob Not Not ve Acquisiti 2300000 Own Capital ve of the 2024 Public ile 20% long-term Applicabl Applicabl No Financial on 000 funds Operation Financial equity Decembe Delisting Finance e e Services Group Services transfer r 31 of Part of Co. Ltd Co. Ltd agreemen 2024 the t Equity and Related Transacti ons of 25Chongqing Changan Automobile Company Limited 2024 Annual Report Changan Automob ile Finance Co. Ltd. (Announc ement No. 2024- 67) on the website of Juchao Informati on for details Announc ement on the Progress of Purchasin g Partial Equity of Changan Automob ile Finance Co. Ltd.through Public Delisting (Announc ement No. 2024- 91) 3. The ongoing major non-equity investment in reporting period □ Applicable √ Not applicable 4. Financial assets investment (1) Security investments √ Applicable □ Not applicable Accumula Gains and Purchase Sales ted fair Gains and Book value at Book value at the losses from amount amount Initial Accounting value losses of the the end of the Account Security Stock beginning of the changes in fair during the during the Source Abbreviation i nvestment cost measurement changes reporting reporting ing type code reporting period value during reporting reporting of funds（RMB） model included period period subject（RMB） the period period period in equity （RMB） （RMB）（RMB） （RMB） （RMB）（RMB） China Trading Self- Automotive Fair value Stock 301215 98999997.80 160744733.27 -5731578.82 0.00 0.00 0.00 -3100263.10 155013154.45 financial owned Group Co. measurement assets funds Ltd Total 98999997.80 -- 160744733.27 -5731578.82 0.00 0.00 0.00 -3100263.10 155013154.45 -- -- (2) Derivative investments √ Applicable □ Not applicable 1） Derivative investments for hedging purposes during the reporting period √ Applicable □ Not applicable Unit: 10000 RMB Investment Proportion of Profit and loss Initial Accumulated Amount of Amount of amount at investment amount Initial from changes derivatives changes in fair purchase in sales in the the end of at the end of the Investment type of derivatives investment in fair value in investment value included in the reporting reporting the reporting period to amount the current amount equity period period reporting net assets of the period period Company Forward foreign exchange - USD 91973 91973 -2211 -1116 35623 127596 - - Forward foreign exchange - --382421762176-- Japanese yen 26Chongqing Changan Automobile Company Limited 2024 Annual Report Total 91973 91973 -2173 -1092 37799 129772 - - Explanation of changes of the accounting policies and accounting principles of the Company’s Not applicable hedging during the reporting period compared with the previous reporting period Description of actual gains/losses During the reporting period RMB 1297.72 million was sold and the actual transaction profit was RMB 10.81 million.during the reporting period Changan Automobile adheres to the principle of risk neutrality in carrying out forward foreign exchange settlement and sales business based on normal production and operation locks in income and cost through forward foreign exchange Description of hedging effect transactions avoids the risk of exchange rate fluctuations reduces the uncertainty of operating profits and ensures the realization of annual operating objectives.Source of funds Self-owned funds Risk analysis 1. Market risk: In the event of significant fluctuations in exchange rates the difference between the forward foreign exchange contract exchange rate and the actual exchange rate on the maturity date may result in exchange losses for the company. 2. Liquidity risk: Due to inaccurate predictions the delivery date of forward foreign exchange contracts signed does not match the actual delivery date resulting in insufficient funds available for delivery and causing liquidity risk leading to the inability to deliver on schedule. 3. Credit risk: Due to inaccurate predictions the delivery date of forward foreign exchange contracts signed does not match the actual delivery period resulting in delayed delivery risks caused by the inability to deliver forward foreign exchange transactions at the agreed time. 4. Operational risk: Risks may arise due to inadequate internal control mechanisms and unprofessional operators. 5. Legal risk: If the terms of the transaction contract are unclear there may be legal risks. Risk analysis and control measures Risk control measures for derivatives investment during 1. The company and its subsidiaries will pay attention to changes in the exchange rate market strengthen research on the reporting period (including but exchange rates assess future exchange rate trends improve their ability to make judgments on exchange rates and reduce not limited to market risk liquidity the impact of exchange rate fluctuations on the company.risk credit risk operational risk 2. To prevent delayed delivery of forward foreign exchange transactions the business management departments of the legal risk etc.) company and its subsidiaries will track the progress of payments and receipts avoid overdue situations and minimize risks as much as possible. 3. The company and its subsidiaries have established a foreign exchange research group and a foreign exchange trading risk control group and established a forward foreign exchange trading mechanism for foreign exchange research trading risk control and scheme approval. The setting of foreign exchange trading positions should ensure that personnel in the front middle and back office positions are separated from each other and rotated regularly. 4. The company has formulated the “Management Measures for Forward Foreign Exchange Trading Business (Trial) “which provides clear regulations on management principles management systems operational procedures risk control etc.and must strictly follow the requirements of the system during operation. 5. The company and its subsidiaries choose financial institutions with legal qualifications good credit and long-term business dealings with the company as their counterparties for conducting forward foreign exchange trading business with low default risk.Changes in market price or fairvalue of invested derivatives during The Company’s measurement of Financial Instruments follows the “Accounting Standard for Business Enterprises Articlethe reporting period (the specific 22 - Recognition and Measurement of Financial Instruments” and the fair value is basically measured and recognized with methods relevant assumptions and reference to bank pricing. During the reporting period the gain on the change in fair value of forward exchange contracts parameters used in the analysis of was RMB -21.73 million.the fair value should be disclosed) Whether it is involved in a lawsuit Not applicable Disclosure date of derivatives investment approval board February 23 2024 announcement Disclosure date of derivatives investment approval shareholders May 11 2024 meeting announcement 2） Derivative investment for the purpose of speculation during the reporting period □ Applicable √ Not applicable During the reporting period there was no derivative investment for the purpose of speculation. 5. Use of raised funds √ Applicable □ Not applicable (1) Overall use of raised funds √ Applicable □ Not applicable Unit: 10000 RMB Securitie The Types of Total funds Net The used Total The total Cumulativ Proporti The total The Amount Year s listing utilization raise raised amount of amount of accumulat amount of e total on of amount purpose of funds date raised total ed use of ratio of raised amount of total of and raised idle 27Chongqing Changan Automobile Company Limited 2024 Annual Report funds funds funds raised funds raised raised unused placement for more （1） raised in raised funds at with funds with funds funds of the than two the （2） the end of purpose purpose with unused years current the changed changed purpose funds period reporting in changed period reporting （3）= period （2）/ （1） Deposited Non- in a October public 598608.4 604055.0 dedicated 2020 26th 0 160545.86 26.82% 0 offering 600000.00 6928.38 100.02% 4116.63 account 202017 of shares for raised funds 598608.4604055.0 Total -- -- 600000.00 6928.38 100.02% 0 160545.86 26.82% 4116.63 -- 0 17 Description of the overall use of raised funds 1. The board of directors of the Company believes that the Company has disclosed the storage and actual use of the Company’s raised funds in a timely true accurate and complete manner in accordance with the “Guidelines for the Standardized Operation of Listed Companies on the Shenzhen Stock Exchange” and relevant format guidelines. There are no violations in the management of raised funds. The Company has faithfully fulfilled its obligation to disclose the investment direction and progress of the raised funds. 2. The net amount of raised funds after deducting other issuance expenses is RMB 5986.08 million the actual net amount of raised funds after adjustment is RMB 6039.30 million. The Company used the raised funds of RMB 3252.08 million RMB 747.22 million RMB 693.30 million RMB 1278.67 million and RMB 69.28 million respectively in 2020 2021 2022 2023 and 2024. As of December 31 2024 the Company has used a total of RMB 6040.55 million of the raised funds. 3. The fact that the cumulative amount of the raised funds used has exceeded the total amount of the raised funds is mainly affected by the interest income. (2) Use of the raised funds in committed projects √ Applicable □ Not applicable Unit: 10000 RMB Cumulati Investme Whether The Whe Whether Whet Total ve nt the cumulativ ther the her Committed committ investme progress project e benefits it feasibility Financi Securiti the Adjusted Amount projects and ed nt as of the has Benefits realized meet of the ng es Projec proje total investe placement investme amount end of reached realized as of the s the project project listing t type ct has investme d this of extra nt of as of the the the this year end of the expe has name date been nt (1) year funds raised raised end of period% intended reporting cted changed chang funds the (3) = usable period. retur significan ed period (2) (2)/(1) state n tly Committed projects H series fifth phase NE1 Produ series first ction phase engine 141568. 103313.6 103922.7 363714.and Yes 1416.27 100.59% Yes 904914.25 Yes No production constr 38 8 8 25 capacity uction construction project Crash Laboratory Not Not 11505.7 Not Capacity R&D Yes 8251.85 - 8342.63 101.10% Yes applicab appli No applicable Upgrade 5 le cable Issuance Project of shares to October CD569 Produ specific 26th production ction 15576.2 35225.1 investor 2020 line and Yes 9418.59 - 9616.70 102.10% Yes 81935.19 Yes No construction constr 2 9 s in 2020 project uction Hefei Changan Produ Automobile ction 249958.142399.7139413.827899.4 Co. Ltd. and Yes 5512.11 97.90% Yes 157829.42 No No adjustment constr 06 8 3 2 and upgrade uction project Supplementa Not Not Not 180000. 180000.0 180000.0 Not ry working R&D No - 100.00% applicab applicab appli No applicable capital 00 0 0 le le cable New R&D No - 160545.8 - 162759.1 101.38% Yes Not Not Not No 28Chongqing Changan Automobile Company Limited 2024 Annual Report generation 6 3 applicab applicable appli energy- le cable saving product transformati on and upgrading project Total 598608. 603929.7 604055.0 --6928.38100.02%-------- 4167 The reasons for not reaching the The reasons why the adjustment and upgrading project of Hefei Changan Automobile Co. Ltd. did not planned progress or expected benefits achieve the expected revenue are as follows: the penetration rate of new energy continued to increase in (by specific projects) 2024 the sales of traditional fuel passenger vehicles declined and industry competition intensified.Description of major changes in the N/A feasibility of the project The amount use and progress of extra Not applicable raised funds Change in implementation location of N/A the committed projects Adjustment to implementation method N/A of committed project On November 18th 2020 the Ninth Meeting of the Eighth Session of the Board of Directors of theCompany reviewed and approved the “Proposal on the Use of Raised Funds to Replace Early InvestmentUpfront investment and replacement of in Self-Own Funds” and agreed to use raised funds of RMB 1378818553.05 to replace pre-invested sell- committed projects raised funds for the project. The replacement of the raised funds has been verified by the Ernst & Young Hua Ming (2020) Special Zi No. 60662431_D05 special report issued by Ernst & Young Hua Ming Certified Public Accountants (special general partnership).Use of idle raised funds for temporary N/A supplement of working capital The company's original plan for four fundraising projects including the H-series Phase V and NE1 series Phase I engine production capacity construction project collision testing laboratory capacity upgrading construction project CD569 production line construction project and Hefei Changan Automobile Co. Ltd.adjustment and upgrading project resulted in some savings compared to the previous plan. The main reason is that the company reduced the actual investment amount through the localization of imported equipment during the project implementation process; At the same time in order to continuously improve the quality Amount and cause of surplus of funds of operation the company has continuously optimized the plan during the project construction process and raised for project implementation implemented lean investment process management achieving control over investment scale and pace.Based on the company's long-term strategic planning and current development needs and after comprehensive analysis in order to further improve the efficiency of the use of raised funds the company has adjusted the investment scale of the original raised funds investment project and allocated the remaining funds of RMB 1605.46 million to the company's new generation energy-saving product transformation and upgrading project.The purpose and placement of the Deposited in a dedicated account by the Company for raised funds.unused raised funds Defects and other problems in utilization and disclosure of the raised N/A funds (3) Changes of projects supported by raised funds √ Applicable □ Not applicable Unit: 10000 RMB Total Significant The amount Actual Investment The date when amount of Benefits changes in actually cumulative progress as the project Whether the Financing funds to be achieved the Method Changed The commitment of invested investment of the end reached the expected project invested in during the feasibility of fund- project the original project during the amount as of of the intended benefits have name the project reporting of the raising reporting the end of the period (%) availability been achieved after the period project after period period (2) (3)=(2)/(1) status change (1) the change Issuance A new 1. H series fifth phas of shares generation e NE1 series first ph to Private of energy- ase engine productio In the year of Not Not 101.38% No specific offering saving n capacity constructi 160545.86 - 162759.13 2024 applicable applicable investors products on project in 2020 transformat 2. Crash Laboratory 29Chongqing Changan Automobile Company Limited 2024 Annual Report ion and Capacity Upgrade C upgrading onstruction Project projects 3. CD569 production line construction pro ject 4. Hefei Changan Automobile Co. Ltd.adjustment and upgr ade project Total -- -- -- 160545.86 - 162759.13 101.38% -- -- -- -- 1. The company's original plan for four fundraising projects including the H-series Phase V and NE1 series Phase I engine production capacity construction project collision testing laboratory capacity upgrading construction project CD569 production line construction project and Hefei Changan Automobile Co. Ltd. adjustment and upgrading project resulted in some savings compared to the previous plan.The main reason is that the company reduced the actual investment amount through the localization of imported equipment during the project implementation process; At the same time in order to continuously improve the quality of operation the company has continuously optimized the plan during the project construction process and implemented lean investment process management achieving control over Reasons for change decision- investment scale and pace. Based on the company's long-term strategic planning and current development needs and after comprehensive making procedures and analysis in order to further improve the efficiency of the use of raised funds the company has adjusted the investment scale of the original information disclosure (by raised funds investment project and allocated the remaining funds of RMB 1605.46 million to the company's new generation energy-saving specific project) product transformation and upgrading project. 2. Decision-making procedure: The Company held the 38th meeting of the 8th Board of Directors on April 26th 2022 and approved the proposal of “Adjusting and Changing the Use of Part of the Raised Funds”. The proposal has yet to be submitted to the Company’s General Meeting of Shareholders for consideration. 3. Information disclosure: Please refer to the announcement of “Adjusting and Changing the Use of Part of the Raised Funds” on http://www.cninfo.com.cn (Announcement Number: 2022-23).Reasons for failure to meet the planned schedule or projected Not applicable benefits (by project) Description of significant changes in the feasibility of the Not applicable project after the change VIII. Sale of significant Assets and Equity 1. Sale of significant assets □ Applicable √ Not applicable 2. Sale of significant equity □ Applicable √ Not applicable IX. Analysis of Major Shareholding and Joint Stock Companies √ Applicable □ Not applicable Major subsidiaries and joint stock companies that affect the Company’s net profit by more than 10% Unit: 10000 RMB Main Registered Total Net Operating Operating Net Name Type businesses capital assets assets income profit profit Export and Chongqing Changan services of Subsidiary Automobile International automobiles 142276 963365 219566 2922744 132953 110324 Company Sales and Service Co. Ltd. auto parts and technologies Automobile Chongqing Changan Subsidiary spare parts- Automobile Customer 3000 230333 98267 480697 114575 97560 Company related Service Co. Ltd.business Production and Chongqing Lingyao Subsidiary sales of 13376468157216701012612527547376636 Automobile Co. Ltd. Company vehicles and parts Production and Deepal Automobile Subsidiary sales of 32811 3429500 -350269 3722488 -158865 -157156 Technology Co. Ltd. Company vehicles and parts 30Chongqing Changan Automobile Company Limited 2024 Annual Report Production and Joint Changan Ford Automobile sales of Stock USD24100 2814060 166187 4830580 212396 208957 Co. Ltd. vehicles and Company parts Production and Joint Avatr Technology sales of Stock 199496 2 915403 859013 1534767 -400489 -401799 (Chongqing) Co. Ltd. vehicles and Company parts Subsidiaries acquired and sold in the reporting period □ Applicable √ Not applicable Description of major holding and participating companies During the reporting period the profit of Chongqing Changan Automobile International Sales and Service Co.Ltd. increased year-on-year due to the growth of its export business. In recent years as the sales volume of automobiles has gradually increased and the end - user vehicle ownership has risen Chongqing Changan Automobile Customer Service Co. Ltd.’s automobile repair maintenance and related after - market businesses have increased accordingly. Meanwhile the increasing penetration rate of new energy vehicles and the exploration of overseas markets have driven up the overall sales scale of spare parts further improving the company's efficiency. Chongqing Lingyao Automobile Co. Ltd.'s income from asset disposal improved year - on - year mainly because Factory one of Lingyao was included in the government's land acquisition and storage project. Due to the improvement of the product mix and the increase in sales volume and Deepal Auto’s active efforts in cost reduction and efficiency improvement the year - on - year profit loss has decreased. Driven by the increase in exports and the reduction of fixed expenses Changan Ford's overall efficiency has been improved. With the launch of new products and product upgrades the sales volume has increased and the product profitability has gradually improved. However in order to further enrich the product portfolio Avatr has continued to make high - level investments in product R & D brand promotion channel construction etc. resulting in losses.X. Information of main shareholding and joint stock companies □ Applicable √ Not applicable XI. Future Outlook 1. Industrial Landscape and Trends In 2024 driven by the Trade-in and Replacement policy the Chinese automobile market achieved positive annual sales growth stimulating retail sales of broader consumer goods. The following trends are expected to emerge in the automotive industry: (1) Overall Trend: As the Trade-in and Replacement policy continues and expands the Chinese automobile market is expected to maintain steady growth. In terms of the competitive landscape the market will experience increasing concentration of automobile companies. Coupled with the high R & D investment in intelligent technologies which raises the industry entry barriers domestic brands will maintain their dominant position in the new energy market through technological leadership and cost-control abilities. Foreign brands will continue to face pressure with lackluster performance in the new energy market. It is expected that competition will intensify in the future. (2) Electrification: As domestic automakers further improve their product portfolios of new energy vehicles the share of gasoline-only vehicles will decline further. In particular the Trade-in and Replacement policy should help new energy vehicles gain more market share and drive broader market growth. (3) Advanced intelligence: With the accelerated development of intelligent technologies in the automotive industry especially the popularization of autonomous driving technologies L3 AD functions are expected to be rolled out more rapidly in multiple regions and the market penetration will increase quickly. The price of L3 Navigation on Autopilot (NOA) is expected to gradually drop to around 100000 yuan. (4) Globalization: In 2024 China's auto exports continued to grow with new energy vehicle exports being particularly prominent. The export volume of electric vehicles reached a new high. Although the new energy vehicle market has slowed down in some developed countries and is facing challenges such as countervailing duties domestic brands will not slow down their expansion in foreign markets and will actively seek differentiated opportunities in the global market. 2. Corporate Growth Strategy Looking towards the future the Company will proactively recognize adapt to and drive change. It will adopt a strategic mindset to plan for the overall situation embrace transformation and reform to meet challenges. The Company will continuously update and improve its Third Venture. It will maintain strategic focus accelerate its transformation into an intelligent and low-carbon mobility technology company and strive to build a world-class 31Chongqing Changan Automobile Company Limited 2024 Annual Report automotive brand.By 2030 the Company aims to achieve annual sales of five million vehicles. Among them the proprietary brands are expected to sell four million vehicles including 3 million digital intelligent vehicles and overseas sales to reach 1.2 million vehicles. The three major plans—Mission of Shangri-La Dubhe Plan and Vast Ocean Plan—are key to its fundamentals and achievement of strategic goals.Mission of Shangri-La: The Company will build upon AVATR DEEPAL and CHANG-AN NEVO—three digital intelligent EV brands—competitive advantages and create global best-sellers. AVATR EVs focus on new luxury and high-end emotional value. DEEPAL continues to appeal to young-at-heart users while CHANG-AN NEVO focuses on family users in the mainstream new energy vehicle market. The Company will continue to develop differentiated strengths in new energy technologies around the New BlueCore and the Golden Shield Battery.Dubhe Plan: The Company will promote digital intelligence in four aspects: products manufacturing operations and ecosystems. In products the Company will continue to deepen its core capabilities in its proprietary AD features cabin interfaces and chassis technology and rapidly apply and update these technologies.Breakthroughs in key core technologies such as semiconductors controllers maps OS cloud connectivity and networks. In manufacturing the Company will accelerate the transformation of all its factories into intelligent and digital ones to offer customized products to customers. In operations the Company will strengthen its AI development strategy and reshape R & D production supply sales and service with AI. In ecosystems the Company will work more closely with industry leaders and share results with developers.Vast Ocean Plan: The Company will work in harmony with the global community coordinate its efforts in markets such as Europe the Middle East and Africa. It will firmly implement its global strategies and accelerate localized operation systems and capabilities. 3. Operation Plan In 2024 the Company sold 2.684 million vehicles achieving the target set by the board of directors. The target from the Company's board of directors for 2025 is to produce and sell over 2.8 million vehicles. The Company adheres to the guidance of Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era focuses on implementing the Innovation and Entrepreneurship Plan 8.0 and will stick to the strategy deepen reforms center on products innovate marketing aim high and execute efficiently. Its employees will be guided by products and resolutely achieve the target for 2025. The following key tasks should be completed: first establish strategic direction and strengthen implementation. Second improve business quality and strengthen operation efficiency. Third assert leadership of technological innovation with leading technologies and products. Fourth enhance digital manufacturing and continuously accumulate new manufacturing momentum. Fifth strengthen supply chain security and resilience to ensure cost leadership. Sixth continue innovative marketing and enhance marketing capabilities.Seventh deepen reform and improve management and operational efficiency. Eighth put customers first and implement the No.1 Project. Ninth strengthen global brands and make every effort to enhance brand image. Tenth adhere to two-way empowerment and create a new era of joint venture cooperation. Eleventh deepen the organizational reforms and provide a world-class talent team guarantee for the Company's strategic transformation.Twelfth adhere to bottom line thinking and comprehensively enhance safety quality compliance and risk management systems. Thirteenth adhere to and strengthen the comprehensive leadership of the Party and to ensure high-quality development through high-quality Party initiatives. 4. Capital Expenditure Plan for 2025 To achieve the Company's strategic goals the planned investment of the Company and its controlled subsidiaries for 2025 is 10742.11 million yuan. Of the total fixed-asset investment amounts to 3942.36 million yuan and equity investment stands at 6799.75 million yuan. Fixed-asset investment is mainly concentrated in areas such as adjustment of production capacity structure product structure upgrade enhancement of R & D and digital transformation. Equity investment mainly focuses on aspects like the transformation of new energy brands intelligent capabilities expansion of overseas business in-depth industrial chain development and strategic emerging industries. The Company will based on the progress of projects and in combination with the business and financing environment explore and formulate plans for capital raising and utilization through multiple channels to improve the efficiency of capital utilization and reduce capital costs. 5. Possible Risks (1) In terms of the domestic market China's economy is running steadily with progress and the total economic output has jumped to a new level.Macro policies are being implemented faster. Add that to existing policies and the economy is expected to perform well. Dual Renewal Initiatives have been effectively carried out. Consumer spending continues to grow and market confidence has increased. The overall spending in the domestic automobile market is stable. Trade-in and Replacement policies encourage people to spend. On the other hand the gasoline-vehicle market is shrinking and new energy vehicles are gaining market share posing risks and challenges in terms of price competition.Countermeasures: Under the guidance of the Company's Third Venture—Innovation and Entrepreneurship Plan 32Chongqing Changan Automobile Company Limited 2024 Annual Report the Company will continue to promote the Mission of Shangri-La and the Dubhe Plan. New energy and advanced intelligence will drive the Company's growth. The Company will build a new product platform promote technological innovation product upgrading and brand enhancement and continuously launch a series of products with stronger competitiveness and greater consumer appeal. (2) In terms of markets overseas The global economy is moderately recovering but uncertain factors still exist. Anti-globalization has led to an increase in costs of global trade affecting supply chains. As China's share in the global auto market increases some countries have significantly raised import tariffs on automobiles weakening competitiveness of Chinese automobiles and leading to global trade tensions. In addition some countries have implemented stricter non-tariff barriers such as technical standards and environmental requirements which further increases the difficulty for Chinese cars to enter Western countries.Countermeasure: The Company is comprehensively promoting the Vast Ocean Plan with five regional business units further setting up production facilities overseas taking supply chains global and enhancing its overall competitiveness in markets overseas. It works closely with the Belt and Road Initiative building brands while moving some R & D production supply sales and transportation abroad to achieve a win-win solutions for all parties.XII. Reception Research Communication Interviews and Other Activities during the Reporting Period √ Applicable □ Not applicable Reception Reception Reception Reception method Index of Basic Research Information Date location object type For details please refer to the announcement on February 2 2024 on the Shenzhen Stock Exchange's February 2 Chongqing Field research Institution Interactive Easy platform(http://irm.cninfo.com.cn) 2024 Changan Automobile: Investor Relations Activity Record Form for February 2 2024 For details please refer to the announcement on February 22 2024 on the Shenzhen Stock Exchange's February Chongqing Field research Institution Interactive Easy platform(http://irm.cninfo.com.cn) 222024 Changan Automobile: Investor Relations Activity Record Form for February 22 2024 For details please refer to the announcement on March 14 2024 on the Shenzhen Stock Exchange's Interactive March 14 Chongqing Field research Institution Easy platform(http://irm.cninfo.com.cn) Changan 2024 Automobile: Investor Relations Activity Record Form for March 14 2024 For details please refer to the announcement on March 15 2024 on Interactive Easy of Shenzhen Stock March 15 Chongqing Field research Institution Exchange(http://irm.cninfo.com.cn) Changan 2024 Automobile: Investor Relations Activity Record Form for March 15 2024 Changan Automobile Video For details please refer to the announcement on April 23 Account 2024 on the Shenzhen Stock Exchange's Interactive Easy April 19 Network All Panoramic platform(http://irm.cninfo.com.cn) Changan 2024 platform investors Roadshow Automobile: Investor Relations Activity Record Form Entrance Finance for April 19 2024 and Economics For details please refer to the announcement on May 9 2024 on the Shenzhen Stock Exchange's Interactive Easy May 9 Chongqing Field research Institution platform(http://irm.cninfo.com.cn) Changan 2024 Automobile: Investor Relations Activity Record Form for May 9 2024 For details please refer to the announcement on May 16 2024 on the Shenzhen Stock Exchange's Interactive Easy May 16 Chongqing Field research Institution platform(http://irm.cninfo.com.cn) Changan 2024 Automobile: Investor Relations Activity Record Form on May 16 2024 For details please refer to the announcement on May 30 2024 on Interactive Easy of Shenzhen Stock May 30 Chongqing Field research Institution Exchange(http://irm.cninfo.com.cn) Changan 2024 Automobile: Investor Relations Activity Record Form as of May 30 2024 For details please refer to the announcement on June 5 June 5 2024 on the Shenzhen Stock Exchange's Interactive Easy Chongqing Field research Institution 2024 platform(http://irm.cninfo.com.cn) Changan Automobile: Investor Relations Activity Record Form 33Chongqing Changan Automobile Company Limited 2024 Annual Report for June 5 2024 For details please refer to the announcement on June 7 2024 on the Shenzhen Stock Exchange's Interactive Easy June 7 Thailand Field research Institution platform(http://irm.cninfo.com.cn) Changan 2024 Automobile: Investor Relations Activity Record Form for June 7 2024 For details please refer to the announcement on June 19 2024 on the Shenzhen Stock Exchange's Interactive Easy June 19 Chongqing Field research Institution platform(http://irm.cninfo.com.cn) Changan 2024 Automobile: Investor Relations Activity Record Form for June 19 2024 For details please refer to the announcement on June 20 2024 on the Shenzhen Stock Exchange's Interactive Easy June 20 Chongqing Field research Institution platform(http://irm.cninfo.com.cn) Changan 2024 Automobile: Investor Relations Activity Record Form for June 20 2024 For details please refer to the announcement on June 27 2024 on the Shenzhen Stock Exchange's Interactive Easy June 27 Chongqing Field research Institution platform(http://irm.cninfo.com.cn) Changan 2024 Automobile: Investor Relations Activity Record Form for June 27 2024 For details please refer to the announcement on July 2 2024 on the Shenzhen Stock Exchange's Interactive Easy July 2 Chongqing Field research Institution platform(http://irm.cninfo.com.cn) Changan 2024 Automobile: Investor Relations Activity Record Form for July 2 2024 For details please refer to the announcement on July 9 2024 on the Shenzhen Stock Exchange's Interactive Easy July 9 Chongqing Field research Institution platform(http://irm.cninfo.com.cn) Changan 2024 Automobile: Investor Relations Activity Record Form for July 9 2024 For details please refer to the announcement on July 10 2024 on the Shenzhen Stock Exchange's Interactive Easy July 10 Chongqing Field research Institution platform(http://irm.cninfo.com.cn) Changan 2024 Automobile: Investor Relations Activity Record Form for July 10 2024 For details please refer to the announcement on July 12 2024 on the Shenzhen Stock Exchange's Interactive Easy July 11 Chongqing Field research Institution platform(http://irm.cninfo.com.cn) Changan 2024 Automobile: Investor Relations Activity Record Form for July 11 2024 For details please refer to the announcement on July 16 2024 on the Shenzhen Stock Exchange's Interactive Easy July 16 Chongqing Field research Institution platform(http://irm.cninfo.com.cn) Changan 2024 Automobile: Investor Relations Activity Record Form for July 16 2024 For details please refer to the announcement on July 17 2024 on the Shenzhen Stock Exchange's Interactive Easy July 17 Chongqing Field research Institution platform(http://irm.cninfo.com.cn) Changan 2024 Automobile: Investor Relations Activity Record Form for July 17 2024 For details please refer to the announcement on July 18 2024 on the Shenzhen Stock Exchange's Interactive Easy July 18 Chongqing Field research Institution platform(http://irm.cninfo.com.cn) Changan 2024 Automobile: Investor Relations Activity Record Form for July 18 2024 For details please refer to the announcement on July 26 2024 on the Shenzhen Stock Exchange's Interactive Easy July 26 Chongqing Field research Institution platform(http://irm.cninfo.com.cn) Changan 2024 Automobile: Investor Relations Activity Record Form for July 26 2024 For details please refer to the announcement on July 31 2024 on Interactive Easy of Shenzhen Stock July 31 Chongqing Field research Institution Exchange(http://irm.cninfo.com.cn) Changan 2024 Automobile: Investor Relations Activity Record Form as of July 31 2024 For details please refer to the announcement on September 3 2024 on the Shenzhen Stock Exchange's September network Panoramic All Interactive Easy platform(http://irm.cninfo.com.cn) 2 2024 platform Roadshow investors Changan Automobile: Investor Relations Activity Record Form for September 2 2024 September For details please refer to the announcement on Chongqing Field research Institution 3 2024 September 3 2024 on the Shenzhen Stock Exchange's 34Chongqing Changan Automobile Company Limited 2024 Annual Report Interactive Easy platform(http://irm.cninfo.com.cn) Changan Automobile: Investor Relations Activity Record Form for September 3 2024 For details please refer to the announcement on September 4 2024 on the Shenzhen Stock Exchange's September Chongqing Field research Institution Interactive Easy platform(http://irm.cninfo.com.cn) 42024 Changan Automobile: Investor Relations Activity Record Form for September 4 2024 For details please refer to the announcement on September 11 2024 on the Shenzhen Stock Exchange's September Chongqing Field research Institution Interactive Easy platform(http://irm.cninfo.com.cn) 112024 Changan Automobile: Investor Relations Activity Record Form for September 11 2024 For details please refer to the announcement on September 12 2024 on the Shenzhen Stock Exchange's September Chongqing Field research Institution Interactive Easy platform(http://irm.cninfo.com.cn) 122024 Changan Automobile: Investor Relations Activity Record Form for September 12 2024 For details please refer to the announcement on Shanghai Stock September 20 2024 on the Shenzhen Stock Exchange's September Shanghai Exchange Institution Interactive Easy platform(http://irm.cninfo.com.cn) 202024 Roadshow Center Changan Automobile: Investor Relations Activity Record Form for September 20 2024 For details please refer to the announcement on September 23 2024 on the Shenzhen Stock Exchange's September Chongqing Field research Institution Interactive Easy platform(http://irm.cninfo.com.cn) 232024 Changan Automobile: Investor Relations Activity Record Form for September 23 2024 For details please refer to the announcement on October 17 2024 on the Shenzhen Stock Exchange's Interactive October Chongqing Field research Institution Easy platform(http://irm.cninfo.com.cn) Changan 172024 Automobile: Investor Relations Activity Record Form for October 17 2024 For details please refer to the announcement on October 31 2024 on Interactive Easy of Shenzhen Stock October network Panoramic All Exchange(http://irm.cninfo.com.cn) Changan 29 2024 platform Roadshow investors Automobile: Investor Relations Activity Record Form for October 29 2024 For details please refer to the announcement on October 31 2024 on Interactive Easy of Shenzhen Stock October Chongqing Field research Institution Exchange(http://irm.cninfo.com.cn) Changan 312024 Automobile: Investor Relations Activity Record Form as of October 31 2024 For details please refer to the announcement on November 7 2024 on Interactive Easy of Shenzhen November Chongqing Field research Institution Stock Exchange(http://irm.cninfo.com.cn) Changan 72024 Automobile: Investor Relations Activity Record Form for November 7 2024 For details please refer to the announcement on November 8 2024 on Interactive Easy of Shenzhen November Chongqing Field research Institution Stock Exchange(http://irm.cninfo.com.cn) Changan 82024 Automobile: Investor Relations Activity Record Form for November 8 2024 For details please refer to the announcement on November 11 2024 on Shenzhen Stock Exchange's November Chongqing Field research Institution Interactive Easy(http://irm.cninfo.com.cn) Changan 112024 Automobile: Investor Relations Activity Record Form for November 11 2024 For details please refer to the announcement on November 13 2024 on Shenzhen Stock Exchange's November Chongqing Field research Institution Interactive Easy(http://irm.cninfo.com.cn) Changan 132024 Automobile: Investor Relations Activity Record Form for November 13 2024 For details please refer to the announcement on November 15 2024 on Shenzhen Stock Exchange's November Chongqing Field research Institution Interactive Easy(http://irm.cninfo.com.cn) Changan 152024 Automobile: Investor Relations Activity Record Form for November 15 2024 For details please refer to the announcement on November 21 2024 on the Shenzhen Stock Exchange's November Chongqing Field research Institution Interactive Easy platform(http://irm.cninfo.com.cn) 212024 Changan Automobile: Investor Relations Activity Record Form for November 21 2024 35Chongqing Changan Automobile Company Limited 2024 Annual Report For details please refer to the announcement on November 26 2024 on the Shenzhen Stock Exchange's November Chongqing Field research Institution Interactive Easy platform(http://irm.cninfo.com.cn) 262024 Changan Automobile: Investor Relations Activity Record Form for November 26 2024 For details please refer to the announcement on November 27 2024 on Shenzhen Stock Exchange's November Chongqing Field research Institution Interactive Easy(http://irm.cninfo.com.cn) Changan 272024 Automobile: Investor Relations Activity Record Form for November 27 2024 For details please refer to the announcement on Panoramic Network November 29 2024 on Shenzhen Stock Exchange'sNovember network “Investor Relations AllInteractive Easy（http://irm.cninfo.com.cn) Changan 28 2024 platform Interactive investors Automobile: Investor Relations Activity Record FormPlatform” for November 28 2024 For details please refer to the announcement on December 3 2024 on Interactive Easy of Shenzhen DecemberChongqing Field research Institution Stock Exchange（http://irm.cninfo.com.cn) Changan 32024 Automobile: Investor Relations Activity Record Form for December 3 2024 For details please refer to the announcement on December 5 2024 on the Shenzhen Stock Exchange's DecemberChongqing Field research Institution Interactive Easy platform（http://irm.cninfo.com.cn) 52024 Changan Automobile: Investor Relations Activity Record Form for December 5 2024 For details please refer to the announcement on December 6 2024 on the Shenzhen Stock Exchange's DecemberChongqing Field research Institution Interactive Easy platform（http://irm.cninfo.com.cn) 62024 Changan Automobile: Investor Relations Activity Record Form for December 6 2024 For details please refer to the announcement on December 12 2024 on the Shenzhen Stock Exchange's DecemberChongqing Field research Institution Interactive Easy platform（http://irm.cninfo.com.cn) 122024 Changan Automobile: Investor Relations Activity Record Form for December 12 2024 For details please refer to the announcement on December 19 2024 on the Shenzhen Stock Exchange's DecemberChongqing Field research Institution Interactive Easy platform（http://irm.cninfo.com.cn) 192024 Changan Automobile: Investor Relations Activity Record Form for December 19 2024 XIII Implementation status of market value management system and valuation enhancement plan Has the company established a market value management system.√ Yes □ No Has the company disclosed a plan to increase its valuation.□ Yes √ No On April 9 2025 the 40th meeting of the 9th Board of Directors of the Company reviewed and approved the Proposal 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 the return - generating ability for shareholders in accordance with relevant laws regulations and regulatory documents such as the Company Law of the People's Republic of China the Securities Law of the People's Republic of China the Several Opinions of the State Council on Strengthening Supervision Preventing Risks and Promoting High - quality Development of the Capital Market the Several Opinions on Improving and Strengthening the Market Value Management of Listed Companies Controlled by Central Enterprises the Regulatory Guidelines for Listed Companies No. 10 - Market Value Management as well as the relevant provisions of the Company's Articles of Association the Company has formulated the Market Value Management System of Chongqing Changan Automobile Co. Ltd.XIV Implementation of the “Dual Improvement in Quality and Returns” Initiative Whether the company has disclosed the “Dual Improvement in Quality and Returns” Initiative.√ Yes □ No In order to implement the guiding ideology of “revitalizing the capital market and boosting investor confidence” proposed by the Politburo meeting of the Communist Party of China Central Committee better play the “three roles” 36Chongqing Changan Automobile Company Limited 2024 Annual Report of central enterprises in scientific and technological innovation industrial control and security support safeguard the interests of all shareholders enhance investor confidence and promote the long-term healthy and sustainable development of the company the company has formulated the “Dual Improvement in Quality and Returns” action plan. The specific measures include firmly guiding the strategy to accelerate the transformation into an intelligent low-carbon travel technology company improving the standard operation level of corporate governance strengthening information disclosure to enhance transparency and valuing shareholder returns to improve investorsatisfaction. For specific details please refer to the Announcement on the Action Plan for “Dual Improvement inQuality and Returns” (Announcement No.: 2024-13) disclosed by the company on the website of Juchao Information (www.cninfo.com.cn) on March 7 2024. In addition the company disclosed the Announcement on the Progress of the Action Plan for “Dual Improvement in Quality and Returns” (Announcement No.: 2024-26) on April 18 2024.In accordance with the provisions of the Company Law and the Articles of Association regarding profit distribution policies combined with the actual situation and development needs of the company and in order to fully repay shareholders the company's profit distribution plan for 2024 is as follows: based on the total share capital of 9914086060 shares a cash dividend of RMB 2.95 (including tax) will be distributed to all shareholders for every 10 shares. The company plans to distribute a total of RMB 2924655387.70 (including tax) in cash accounting for 40% of the net profit attributable to shareholders of the listed company in the consolidated financial statements for this year. No bonus shares will be issued and no share capital will be converted from reserve funds. The Company's cash dividend ratio has increased compared with the same period of last year fully sharing the company's development achievements with a large number of investors.The company will hold its 2024 annual performance briefing on Friday April 11 2025 from 15:00 to 16:40 through professional roadshow platforms such as "Changan Automobile's official video account" "Panorama Roadshow" "Eastmoney Roadshow Center" "Huatai Securities Xingzhi" "Value Online" "Roadshow China" "Flush Roadshow Platform" and "Wind 3C Conference". All investors are warmly welcome to actively participate. 37Chongqing Changan Automobile Company Limited 2024 Annual Report Chapter 4 Corporate Governance I. The Basic Situation of Corporate Governance During the reporting period the Company strictly complied with the requirements of the Company Law the Securities Law and relevant regulatory documents issued by the China Securities Regulatory Commission (CSRC) and the Shenzhen Stock Exchange. It continuously followed up and sorted out the requirements of laws regulations and regulatory rules regarding the governance of listed companies and promptly improved the corporate governance system. The Company continuously optimized its corporate governance structure established and improved internal management and control systems and continuously promoted the improvement of the Company's standardized operation level. The actual situation of the Company's corporate governance met the requirements of relevant regulatory documents of the CSRC regarding the governance of listed companies.During the reporting period in accordance with the newly issued regulatory documents of the CSRC and the Shenzhen Stock Exchange and in light of the actual situation the Company continuously optimized the construction of the institutional system and management processes related to corporate governance advanced and implemented them in an orderly manner and focused on enhancing the Company's decision - making efficiency and governance effectiveness.The Board of Directors made scientific decisions and all directors fulfilled their duties diligently and werepromptly informed of the Company's production and operation situation. According to the Company's “WorkingSystem for Independent Directors” all independent directors fulfilled their on - site duties for 15 days. In accordance with the provisions of the Company's Articles of Association and considering the expiration of directors' terms the Company accurately depicted the profiles of independent directors quickly matched connected with and introduced professional talents in the innovation field to serve as independent directors. Based on factors such as the regular jobs and areas of expertise of all directors the Company timely adjusted the composition of the members of each special committee to ensure the implementation of all the powers and functions of the Board of Directors. The Company systematically integrated the division of responsibilities and appointment requirements of each special committee improved the personnel composition and main responsibilities of the special committees. The Company's governance was stable and standardized which contributed to the stable and healthy development of production and operation.The company has established an effective internal control system for financial reporting strictly implemented the Enterprise Accounting Standards and improved accounting basic management according to the characteristics of the company's business management. It has established a sound financial system continuously optimized accounting and report preparation processes continuously strengthened financial supervision and deeply implemented financial control. It has established financial management systems for accounting basic work management financial management authorization monetary fund management guarantees liabilities financing procurement and payment fixed assets construction in progress accounting policies accounting estimates consolidated statement preparation cost management inventory management financial analysis etc. ensuring the safety of the company's assets and the quality of accounting information. According to the criteria for identifying internal control deficiencies in financial reporting the company did not have any significant or significant deficiencies in internal control of financial reporting during the reporting period. The full text of the internal control evaluation report was published on April 11 2025 on the website of Juchao Information (http://www.cninfo.com.cn).Whether there are differences between corporate governance and the related requirements of “Company Law” and China Securities Regulatory Commission.□ Yes √ No There is no difference between corporate governance and the related requirements of “Company Law” and China Securities Regulatory Commission.II. The Independence of the Company in Terms of Assets Personnel Finance Organization And Business Relative to Controlling Shareholders and Actual Controllers The Company is completely independent from the controlling shareholders and actual controllers in terms of business assets personnel institutions and finance. 1. Business: The business of Changan Automobile is independent of controlling shareholders and actual controllers. It makes independent decisions operates independently and is responsible for its own profits and losses.It has a complete business and industrial system including procurement production sales and research and development. The controlling shareholders and actual controllers do not directly or indirectly interfere in the production and business activities of Changan Automobile. 2. Personnel: The controlling shareholder and the actual controller are completely independent from the personnel labor and personnel of Changan Automobile. They have independent staff teams complete labor 38Chongqing Changan Automobile Company Limited 2024 Annual Report management performance appraisal and other systems and salary systems and independently sign the Labor Contract with employees according to law. 3. Assets: The assets of controlling shareholders and actual controllers are strictly separated from Changan Automobile and the property rights are clearly defined. There is no direct or indirect interference in the production and operation of Changan Automobile. Changan Automobile has independent production system auxiliary production system supporting facilities land use rights and other assets legally owns land real estate machinery and equipment trademarks related to production and operation and has an independent raw material procurement and product sales system. 4. Organization: The controlling shareholder the actual controller and Changan Automobile have independent production operation and office places. There is no mixed operation. 5. Finance: The controlling shareholder the actual controller and Changan Automobile have independent finance and accounting departments with independent finance and accounting personnel and have established independent accounting system and financial management system. They make financial decisions independently open bank accounts and pay taxes independently and do not share bank accounts. Changan Automobile handles tax registration independently and pays tax independently according to law.Ⅲ. Competition Situation □ Applicable √ Not applicable IV. Annual Shareholders Meeting and Extraordinary General Meeting during the Reporting Period 1. Shareholders meeting during the reporting period Investor types of Meeting Session participatio Date of Meeting Disclosure Date Resolution Index meeting n ratio Please refer to the Changan Automobile: The Resolution of the The first Extraordinary First Extraordinary General Meeting extraordinary general meeting 41.201% January 5 2024 January 6 2024 of Shareholders in 2024 general meeting of of stockholders (Announcement No. 2024-01) on the shareholders in 2024 website of Juchao Information for details Please refer to the Changan The Second Automobile: The Resolution of the Extraordinary Extraordinary Second Extraordinary General General Meeting of general meeting 41.254% January 30 2024 January 31 2024 Meeting of Shareholders in 2024 Shareholders in of stockholders (Announcement No. 2024-05) on the 2024 website of Juchao Information for details Please refer to the Changan Automobile: The Resolution of 2023 2023 Annual Annual general Annual General Meeting of General Meeting of meeting of 48.395% May 10 2024 May 11 2024 Shareholders (Announcement No.Shareholders shareholders 2024-32) on the website of Juchao Information for details Please refer to the Changan Automobile: The Resolution of the The third Extraordinary Third Extraordinary General extraordinary general meeting 39.912% September 19 2024 September 20 2024 Meeting of Shareholders in 2024 general meeting of of stockholders (Announcement No. 2024-58) on the shareholders in 2024 website of Juchao Information for details Please refer to the Changan The Fourth Automobile: The Resolution of the Extraordinary Extraordinary Fourth Extraordinary General General Meeting of general meeting 11.983% December 30 2024 December 31 2024 Meeting of Shareholders in 2024 Shareholders in of stockholders (Announcement No. 2024-89) on the 2024 website of Juchao Information for details 39Chongqing Changan Automobile Company Limited 2024 Annual Report 2. The shareholders of preferred shares with voting right restored request to convene an extraordinary general meeting □ Applicable √ Not applicable V. Directors Supervisors and Senior Management Personnel 1. Basic information Number of shares held Number of Number of Other Number of Reasons for at the shares shares increase/ shares held at Employme Starting date Termination changes in Name Gender Age Position beginning increased in reduced in decrease the end of the nt status of term date of term shares increase of the this period this period changes period or decrease period (shares) (shares) (stock) (shares) (shares) Chairman Zhu June 22 July 27 Male 59 And Party Current 500864 500864 huarong 2020 2026 Secretary September July 27 Deng wei Male 53 Director Current 1520232026 Shi January 30 July 27 Male 44 Director Current yaoxiang 2024 2026 July 27 July 27 Jia lishan Male 54 Director Current 20232026 July 27 July 27 Repurchase and Zhao fei Male 50 Director Current 353080 -139467 213613 2023 2026 cancellation Director Chief Zhang Financial June 22 July 27 Male 49 Current 353080 353080 deyong Officer 2020 2026 Board Secretary Yang Independent September July 27 Male 64 Current 30000 30000 xinmin Director 17 2021 2026 Independent June 15 July 27 Li keqiang Male 61 Current Director 2022 2026 Independent June 15 July 27 Ding wei Male 64 Current Director 2022 2026 Tang Independent June 15 July 27 Male 62 Current guliang Director 2022 2026 Independent June 15 July 27 Zhang ying Male 46 Current Director 2022 2026 Independent September July 27 Li zhenyu Male 48 Current Director 19 2024 2026 Supervisory July 27 July 27 Wenhong Male 58 Board Current 20232026 Chairman June 22 July 27 Sun dahong Male 58 Supervisor Current 20202026 Shi Employee November July 27 Male 53 Current shengwei Supervisor 8 2021 2026 Employee June 19 July 27 Luo yan Female 50 Current 500 500 Supervisor 2020 2026 Chief Human Tan October 24 July 27 Male 49 Resources Current 353080 353080 benhong 2023 2026 Officer Pu Chief Risk March 3 July 27 Male 53 Current xingchuan Officer 2023 2026 Executive July 13 July 27 Ye pei Male 49 Vice Current 353080 353080 20202026 President Executive January 28 July 27 Li mingcai Male 43 Vice Current 353080 353080 20222026 President Executive Yang December July 27 Male 50 Vice Current 252200 252200 dayong 28 2022 2026 President Executive December July 27 Peng tao Male 46 Current 248612 248612 Vice 28 2022 2026 40Chongqing Changan Automobile Company Limited 2024 Annual Report President Klaus Vice October 7 July 27 Male 63 Current zyciora President 2023 2026 Executive Zhang December July 27 Male 45 Vice Current 248612 248612 xiaoyu 1 2023 2026 President Executive Wang January 12 July 27 Male 42 Vice Current 171990 171990 xiaofei 2022 2026 President Vice September July 27 Wang hui Male 43 Current 171990 171990 President 22 2022 2026 Vice January 5 July 27 Zhang fatao Male 42 Current 248612 248612 President 2023 2026 Deng Vice December July 27 Male 38 Current chenghao President 1 2023 2026 Not serving as vice president of Vice January 3 July 27 He gang Male 39 Current 80282 32598 47684 the company President 2025 2026 during the reporting period Board July 13 July 12 Repurchase and Li jun Female 55 Outgoing 248612 -84528 164084 Secretary 2020 2024 cancellation Executive Vice July 13 August 15 Chen wei Male 52 President Outgoing 353080 353080 20202024 General Counsel Cao Independent May 18 September Male 53 Outgoing xingquan Director 2018 19 2024 Director June 22 April 9 Wang jun Male 52 Outgoing 364000 364000 President 2020 2025 Total -- -- -- -- -- -- 4684754 32598 -223995 4428161 -- Whether there are any outgoing directors and supervisors and the dismissal of senior management personnel during the reporting period √Yes □ No See “V. 1. Changes in Directors Supervisors and Senior Management Personnel” in Chapter 4.Changes in Directors Supervisors and Senior Management Personnel √ Applicable □ Not applicable Name Position Type Date Reason Shi Yaoxiang Director Be elected January 30 2024 Appointment Li Zhenyu Independent Director Be elected September 19 2024 Appointment Wang Xiaofei Executive Vice President Appointed December 17 2024 Appointment He Gang Vice President Appointed January 3 2025 Appointment Li Jun Board Secretary Dismiss July 12 2024 Reaching the statutory retirement age Executive Vice President Chen Wei Dismiss August 15 2024 Job changes General Counsel Cao Xingquan Independent Director Outgoing September 19 2024 Resignation after serving for six years Wang Xiaofei Vice President Dismiss December 17 2024 Job changes Wang jun Director Outgoing April 9 2025 Job changes Wang jun President Dismiss April 9 2025 Job changes 2. Incumbency Professional background work experience and duties and responsibilities of incumbent Directors Supervisors and Senior Manager Personnel (1) Directors Mr. Zhu Huarong Chairman and Party Secretary Chairman of Changan Ford Motor Co. Ltd. Chairman of Avatr Technology (Chongqing) Co. Ltd. Director of Nanchang Jiangling Investment Co. Ltd and Vice Chairman of Shenzhen Yinwang Intelligent Technology Co. Ltd.. Born in 1965 Master's degree currently a senior engineer.Formerly served as the deputy director of the Technology Department of Changan Company the chief engineer of the automobile manufacturing plant the assistant to the company's president and the director of the Technology Center the director of the Science and Technology Committee the deputy general manager of the company the dean of the Engineering Research Institute the vice president and the secretary of the Party Committee of Changan Automobile the deputy secretary of the Party Committee of China Changan the president of Changan Automobile and a director of China Changan.Mr. Deng Wei Director. Born in 1971 Master's degree currently a senior engineer. The current Director of the 41Chongqing Changan Automobile Company Limited 2024 Annual Report Strategic Development Department of CSG Chairman of Fujian Chengguang Qiming Technology Co. Ltd. and Chairman of the Advanced Technology Innovation Research Institute of China CSG Fuzhou University. Formerly served as the Deputy Director of the CSG Development Planning Department Deputy Director of the Strategic Development Department Director of the Science and Technology Information Department and a temporary member of the Standing Committee and Deputy Governor of the Honghe Hani and Yi Autonomous Prefecture in Yunnan Province. Also served as a director of Chongqing Changan Wangjiang Industrial Group Co. Ltd. Xi'an Kunlun Industrial (Group) Co. Ltd. and Executive Director of China South Industries Group Information Center Co. Ltd.Mr. Shi Yaoxiang Director. Born in 1980 Master's degree senior accountant. The current Director of the Finance Department of CSG Director of Southern Industrial Asset Management Co. Ltd. and Director of South Industries Group Finance Co. Ltd. Formerly served as a director and chief accountant of Sichuan Huachuan Industry Co. Ltd. a director and chief accountant of Changan Industry a chief accountant of Chongqing Changan Wangjiang Industrial Group Co. Ltd. deputy director of the finance department of CSG director general manager and deputy secretary of the party committee of Southern Industrial Asset Management Co. Ltd.Mr. Jia Lishan Director. Born in 1970 Ph.D. currently a senior engineer. The current Director of the Industry Promotion Department of CSG and Chairman of Jinan Qingqi Suzuki Motorcycle Co. Ltd. Formerly served as the Director of the Industrial Development Department the Director of the Comprehensive Department of the General Office and the Deputy Director of the Development Planning Department of CSG Optoelectronics Department. Also served as the Chairman and Party Secretary of Chongqing Dajiang Industrial Co. Ltd. and the Deputy Director of the Promotion Department of CSG.Mr. Zhao Fei Director. Born in 1974 Master's degree Senior Engineer. Current Chairman and Party Secretary of China Changan Automobile Group Co. Ltd. Formerly served as the Director of the Engine Technology Institute at Changan Automobile Research Institute Deputy Director of Engine Factory 4 Deputy General Manager of the Science and Technology Development Department of China Changan Group Director General Manager Party Secretary and Chairman of Harbin Dong'an Automotive Engine Manufacturing Co. Ltd. Assistant to the President and Director of the Strategic Planning Department and Party Branch Secretary of Changan Automobile Vice President and Executive Vice President of the company Party Secretary and Executive Vice President of Changan Ford President and Deputy Secretary of the Party Committee of China Changan Automobile.Mr. Zhang Deyong Director Chief Accountant Secretary of the Board Director of Changan Ford Motor Co.Ltd. Director of Nanchang Jiangling Investment Co. Ltd. Director of Changan Automobile Finance Co. Ltd. and Director of South Industries Group Finance Co. Ltd. Born in 1975 Master of Accounting (MPAcc) Senior Accountant. Formerly served as the Director and Assistant Director of the Finance Department at the Automation Research Institute of the CSG Deputy Director of the Finance Department of the China South Industries Group Finance Department (on secondment) Director Chief Accountant and Party Committee Member of Chongqing Changjiang Electric Co. Ltd. Deputy Director of the Finance Department of CSG (on secondment) Director Chief Accountant and Party Committee Member of Changan Industry Executive Vice President and General Legal Advisor of Changan Automobile.Mr. Yang Xinmin independent director. Born in 1960 PhD in Applied Mathematics. Current professor at the School of Mathematical Sciences Chongqing Normal University director of the Chongqing National Center for Applied Mathematics and director of the Key Laboratory of Optimization and Control of the Ministry of Education; Also serves as a director of the Chongqing Instant Science and Technology Development Foundation. Mainly engaged in systematic research in the field of operations research (mathematics) awarded the title of National Excellent Science and Technology Worker in 2012 National Outstanding Professional and Technical Talent in 2014 and elected as an academician of the International Academy of Systems and Control Sciences in 2016. Hosted over 10 projects funded by the National Natural Science Foundation of China including 1 major project 2 key projects and 1 international (regional) project and won multiple awards such as the Second Prize of National Natural Science the First Prize of the Ministry of Education's Natural Science and the Chongqing Highest Science and Technology Outstanding Contribution Award. Formerly served as Vice Chairman of the Chinese Mathematical Society and Vice Chairman of the Chinese Society of Systems Engineering.Mr. Li Keqiang independent director. Born in 1963 PhD in Automotive Engineering. He is currently a professor and doctoral supervisor of the School of Vehicles and Transportation of Tsinghua University director of the National Key Laboratory of Intelligent Green Vehicles and Transportation of Tsinghua University and an academician of the CAE Member; Simultaneously serving as an independent director of listed company NavInfo (002405) and non listed company GAC Aion New Energy Vehicle Co. Ltd. Formerly served as the head of the Department of Automotive Engineering at Tsinghua University.Mr. Ding Wei independent director. Born in 1960 Bachelor of Finance. Current founder and chairman of Xiamen Borun Capital Investment Management Co. Ltd; Serving as an independent director of listed companies Guotai Junan (601211) and Heng Seng Electronics (600570). Formerly served as an economist and department head at the World Bank and the International Monetary Fund President of Deutsche Bank China Chairman of the Investment Banking Management Committee and Head of the Investment Banking Department at China International Capital Corporation member of the Temasek Global Senior Management Committee member of the Global Investment Decision Committee and concurrently serving as President of China President and Chairman of CICC Capital Operations Limited and independent non-executive director of China Car Rental Limited.Mr. Tang Guliang independent director. Born in 1962 with a PhD in Finance. Current Professor of Finance at the School of International Business University of International Business and Economics. An independent director for listed companies Jiuzhou Tong (600998) and Fosun Pharma (600196) as well as non listed companies Three 42Chongqing Changan Automobile Company Limited 2024 Annual Report Gorges Capital Holding Co. Ltd. and China Construction Investment Leasing Co. Ltd. Mainly engaged in teaching and research of management accounting and financial management with unique and influential achievements in budget management group control performance evaluation financial strategy capital operation and other aspects.We have published 4 monographs and 40 works and have published over 120 papers in high-end academic journals such as Accounting Review TAR and Management World. Formerly served as an independent director of listed companies such as Minmetals Development (600058) Changjiang Securities (000783) and Guangfeng Technology (688007). Mr. Zhang Ying an independent director. Born in 1978 with a PhD in Management. Current Professor and Vice Dean of Guanghua School of Management Peking University; Serving as an independent director of listed companies China Film (600977) and Meiyin Gene (06667. HK). The research focuses on the intersection of psychology and economics and excels in using experimental and data methods to study how individual behavioral decisions and social attitudes affect corporate strategy and policy-making. Received awards such as the Outstanding Young Scholar Award from the American Academy of Marketing Sciences and the “Global Top Marketing Schola” Award from the American Marketing Association. He has been selected as a national top young talent by the Organization Department of the CPC Central Committee awarded the Outstanding Youth Fund by the National Natural Science Foundation of China and recognized as a cultural expert and “four batches” talent by the Propaganda Department of the CPC Central Committee. Previously taught at the University of Texas in the United States.Mr. Li Zhenyu independent director. Born in 1976 with a Master's degree in Engineering. The current Chairman of Shanghai Tashi Zhihang Technology Co. Ltd. Formerly served as Executive Vice President General Manager and President of the Intelligent Driving Business Group at Baidu Online Network Technology (Beijing) Co. Ltd. General Manager of the Autonomous Driving Business Unit at Baidu Online Network Technology (Beijing) Co. Ltd. Vice President Senior Vice President and CEO Assistant at Baidu Online Network Technology (Beijing) Co. Ltd. (2) Supervisors Mr. Wenhong Chairman of the Supervisory Board. Born in 1966 Master's degree holder Senior Engineer.Currently serving as a senior specialist in the Southwest region of CSG a director of Hunan Yunjian Group Co. Ltd.and a director of Chongqing Qingshan Industrial Co. Ltd. Formerly served as Deputy Director of the Office of Chongqing Construction Industry (Group) Co. Ltd. Deputy Secretary of the Party Committee Secretary of the Discipline Inspection Commission and Deputy General Manager of Chongqing Construction Motorcycle Co. Ltd.Deputy Secretary of the Party Committee and Deputy General Manager of Chongqing Construction Electromechanical Co. Ltd. Chairman and Party Secretary of Baoding Tianwei Baobian Co. Ltd. Chairman and General Manager of Baoding Tongyi Electrical Equipment Co. Ltd. and Deputy Director of the Southwest Region of CSG.Mr. Sun Dahong Supervisor. Born in 1966 Master's degree holder Senior Economist. Currently serving as the Deputy Director and Senior Specialist of the Risk Control and Legal Department of CSG Audit and a Director of Southern Industrial Technology Trading Co. Ltd. Formerly served as the Deputy Director of the Legal Department Deputy Director and Director of the Legal Advisory Department Director of the Legal Affairs Department Director of the Security and Confidentiality Bureau Deputy Director of the General Office and Deputy Director of the Legal Department of the CSG.Mr. Shi Shengwei Employee Supervisor. Born in 1971 with a bachelor's degree working as a political engineer.Current Discipline Inspection Officer in the Supervision Department of the Discipline Inspection Department.Formerly worked as a workshop group and machining worker in ChangAn 131 workshop a machine repair and fitter in the engine branch's machining class a publicity officer and director of the Party and Mass Studio in the Comprehensive Management Office of the Fourth Factory a director of the Party and Mass Studio in the Comprehensive Management Office of Changan Automobile Jiangbei Engine Factory a discipline inspection and supervision officer in the Discipline Inspection Department of the Discipline Inspection and Supervision Department and the manager of the Changan Mazda Integrity Office.Ms. Luo Yan Employee Supervisor. Born in 1974 undergraduate assistant economist. Current Senior Manager of the Jiangbei Branch of the Shared Services Center in the Human Resources Department. Formerly served as a maintenance electrician engineering surveyor labor technical quota officer and planner in Workshop 232 of Changan Automobile's Third Factory. Also served as the director of the Employee Welfare Office and the supervisor of the Salary and Welfare Management Third Office in Changan Automobile's Human Resources Department. (3) Senior Management other than Directors and Supervisors Mr. Tan Benhong Chief Human Resources Officer Chairman of the Trade Union and General Manager of ChangAn Learning Center. Born in 1975 Master's degree Senior Engineer. Formerly served as the Director of the Technical Planning Research Institute Deputy Chief Engineer and Director of the Technical Planning Research Institute at Changan Automobilemotive Engineering Research Institute Vice President of Changan Automobilemotive Engineering Research Institute President of Beijing Research Institute Minister of Marketing Brand Public Relations and Product Planning Executive Vice President and Party Secretary of Changan Automobilemotive Research Institute Company Spokesperson General Manager of the Design Institute Executive Vice President of the company and CEO of Avatr Technology (Chongqing) Co. Ltd.Mr. Pu Xingchuan Secretary of the Discipline Inspection Commission and Director of the Office of the Leading Group for Inspection Work. Born in 1971 Master's degree currently a senior economist. Formerly served as Deputy Secretary of the Party Committee Secretary of the Discipline Inspection Commission and Chairman of the Trade Union of Chongqing Qingshan Industrial Co. Ltd. Director of the Office of Southwest Ordnance Industry Bureau Secretary of the Party Committee Secretary of the Discipline Inspection Commission and Chairman of the Trade 43Chongqing Changan Automobile Company Limited 2024 Annual Report Union of Southwest Ordnance Industry Co. Ltd. Director General Manager and Deputy Secretary of the Party Committee of Wanyou Automobile Investment Co. Ltd. and Chairman and Party Secretary of Southwest Ordnance Industry Co. Ltd.Mr. Ye Pei Executive Vice President and General Manager of Changan Brand Business Unit. Born in 1975 master's degree engineer. He used to be the assistant to the general manager of Changan Nanjing the deputy director of Changan Automobile Quality Department the deputy director of the company's office the general manager and secretary of the party committee of Changan Nanjing the deputy general manager of the commercial vehicle business department the assistant to the president the director of the strategic planning department the secretary of the party branch of the company the general manager and secretary of the party committee of the car sales business department the general manager and secretary of the party committee of the passenger vehicle marketing business department the vice president of Changan Automobile the director of the passenger vehicle operation management committee and the director of the Auchan operation management committee.Mr. Li Mingcai Executive Vice President and General Manager of European Business Unit (Changan Automobile Netherlands Co. Ltd.) General Manager and Executive Director of Changan Germany Co. Ltd. and General Manager and Executive Director of Changan Netherlands Co. Ltd. Born in 1981 with a master's degree.Formerly served as Assistant General Manager and Sales Region Manager of Changan Automobile's Overseas Business Development Department Deputy General Manager of Overseas Business Development Department General Manager of International Company Executive Deputy General Manager of Overseas Business Development Department Project Director of Russian JV Project Team Manager of Brazil General Manager of Overseas Business Department Vice President and General Legal Advisor of Changan Automobile.Mr. Yang Dayong Executive Vice President Director Executive Vice President and Party Secretary of Changan Ford Motor Co. Ltd. Chairman President and Product Vice President of Changan Ford New Energy Vehicle Technology Co. Ltd. Born in 1974 Bachelor's degree. Formerly served as the Deputy Minister of Marketing Department Deputy Minister and Minister of Commercial Vehicle Business Management Department Minister of Brand Public Relations Department Party Branch Secretary Company Press Spokesperson Senior Project Director of High end Car Brand Project Group Senior Project Director of Intelligent Industry Development Project Group General Manager and Party Secretary of Chongqing Changan New Energy Vehicle Technology Co. Ltd. and Vice President of Changan Automobile.Mr. Peng Tao Executive Vice President Chairman of Chongqing Changan Kaicheng Automotive Technology Co. Ltd. Chairman of Chongqing Changan Kuayuan Vehicle Co. Ltd. Chairman of Chongqing Changan Kuayuan Vehicle Marketing Co. Ltd. Director of Nanjing Lingxing Technology Co. Ltd. Director of the Board of Directors and Member of the Investment Committee of Nanjing Lingxing Equity Investment Management Co. Ltd. Born in 1978 Bachelor's degree Senior Engineer. Formerly served as Deputy Director Executive Deputy General Manager and Party Branch Secretary of Changan Automobile's Product Planning Department Executive Deputy General Manager General Manager and Party Secretary of the Passenger Vehicle Marketing Division and Vice President of Changan Automobile.Mr. Klaus Zyciora Vice President and General Manager of Changan Global Design Center. Born in 1961 German. Formerly served as an interior designer exterior director and design leader at Volkswagen as well as the design leader at Volkswagen Group.Mr. Zhang Xiaoyu Executive Vice President Chairman of the Company's Science and Technology Association Director of the National Key Laboratory of Intelligent Vehicle Safety Technology Chairman of Chongqing Changxian Intelligent Technology Co. Ltd. and Director of the Board of Directors of China Automotive Chuangzhi Technology Co. Ltd. Born in 1979 Ph.D. currently a senior engineer. Formerly served as the Deputy General Manager and General Manager of the UK R&D Center at Changan Automobile Power Research Institute Deputy General Manager of the Power Research Institute Director of the H13T Project and NE Series Powertrain Project of the company General Manager of the Power Research Institute General Manager of Product Development Department 2 General Manager of ChangAn Forward Technology Research Institute and Vice President of the company.Mr. Wang Xiaofei Executive Vice President. Born in 1982 Bachelor's degree engineer. He used to be the Deputy Director of the Product Department of ChangAn Commercial Vehicle Business Unit the Deputy Director of the Product Department of Oushang Automotive Business Unit the Deputy General Manager and Product Marketing Director of the Passenger Car Marketing Business Unit the Deputy General Manager of the Product Planning Department the General Manager of Oushang Automotive Business Unit and the Company's Vice President.Mr. Wang Hui Vice President Chairman of Jiangling Motors Limited and Director of Changan Ford Motor Co. Ltd. Born in 1981 Bachelor's degree engineer. Formerly served as the Director of Changan Automobile's New Business Coordination Project Group Director of the Company Office and Party Branch Secretary Executive Vice President and Party Secretary of Changma Engine Head of Changan Mazda New Energy Cooperation Project Executive Vice President and Party Secretary of Changan Mazda General Manager of Overseas Business Development Department and Southeast Asia Business Unit.Mr. Zhang Fatao Vice President Director of Safety Production of the company. Born in 1982 Bachelor's degree.Formerly served as Deputy Director of the Office General Manager of the Technology and Project Management Department Party Branch Secretary Executive Vice Chairman of the Association for Science and Technology PDS Project Director Director of the Office Party Branch Secretary Director of the Party Committee Office Director of the Board of Directors Office General Manager of the Human Resources Department Director of the Party Committee Organization Department and Director of the Talent Management Department of ChangAn Learning Center at Changan Automobile Company.Mr. Deng Chenghao Vice President President and Party Secretary of Deep Blue Automotive Technology Co. 44Chongqing Changan Automobile Company Limited 2024 Annual Report Ltd. and Director of the Board of Directors of Era Changan Power Battery Co. Ltd. Born in 1986 Ph.D. currently a senior engineer. Formerly served as Assistant General Manager and Deputy General Manager of Power Development Department at Chongqing Changan New Energy Vehicle Technology Co. Ltd. Project Director of C385EV-E series General Manager and Party Secretary of Chongqing Changan New Energy Vehicle Technology Co. Ltd.Mr. He Gang Vice President General Manager of Changan Automobile Intelligent Research Institute (Chip Application Center) General Manager of Operations and Platform Planning Expert of Chongqing Changan Technology Co. Ltd. Secretary of the Party Committee of the Science and Technology Industry. Born in 1985 Master's degree holder currently a senior engineer. He used to be the Deputy General Manager of wutong Chelian Technology Co. Ltd. the Deputy General Manager and Executive Deputy General Manager of Changan Automobile Intelligent Research Institute the Director of Limited Automatic Driving (Level III) Technology Research Project the General Manager of Intelligent Research Institute the General Manager of wutong Chelian Technology Co. Ltd.and the COO of Chongqing Changan Technology Co. Ltd.Employment in shareholders’ work unit √Applicable □ Not applicable Whether having renumeration or Name of shareholders’ work Position in shareholders’ work Name Term start date Term end date allowance in unit unit shareholders’ work unit China South Industries Group Director of Strategic Deng Wei Y Corporation Ltd. Development Department China South Industries Group Shi Yaoxiang Director of Finance Department Y Corporation Ltd.China South Industries Group Director of Industry Promotion Jia Lishan Y Corporation Ltd. Department China South Industries Group Zhao Fei Chairman and Party Secretary Y Corporation Ltd.Senior Special Affairs China South Industries Group Wenhong Department of Southwest Y Corporation Ltd.Region Deputy Director and Senior China South Industries Group Sun Dahong Specialist of Audit Risk Control Y Corporation Ltd.and Legal Department Explanation of employment in None other units Employment status in other units √Applicable □ is not applicable Do you receive Name of the Starting Terminat remuneration appointed Other unit names Positions held in other units date of ion date allowances in personnel term of term other units Professor at the School of Mathematical Sciences Chongqing Normal University Director of the Chongqing Normal Yang Xinmin Chongqing National Center for Applied Mathematics Y University and Director of the Key Laboratory of Optimization and Control of the Ministry of Education Professor and doctoral supervisor of the School of Vehicle and Transportation of Tsinghua University Li Keqiang Tsinghua University director of the National Key Laboratory of Intelligent Y Green Vehicles and Transportation of Tsinghua University and academician of the CAE Member Xiamen Borun Capital Investment Founder and Chairman of Xiamen Borun Capital Ding Wei Y Management Co. Investment Management Co. Ltd Ltd University of Professor of Finance at the School of International International Tang Guliang Business University of International Business and Y Business and Economics Economics Professor and Deputy Dean of Guanghua School of Zhang Ying Peking University Y Management Peking University Shanghai Tashi Chairman of Shanghai Tashi Zhihang Technology Co.Li Zhenyu Y Zhihang Ltd 45Chongqing Changan Automobile Company Limited 2024 Annual Report Technology Co.Ltd Explanation of employment in None other units Securities regulator’s punishment to the current and former directors supervisors and senior management during the reporting period in recent three years.□ Applicable √ Not applicable 3. Remuneration of directors supervisors and senior management personnel Decision-making process basis the actual payment of remuneration for directors supervisors and senior management personnel Decision-making process: the annual remuneration of the company's directors supervisors and senior executives except for independent directors is issued in accordance with the relevant remuneration management regulations and standards of the company and based on the achievement of performance targets submitted to the company's board of directors for approval before distribution.The basis: the senior management evaluation is divided into annual appraisal and term assessment. The salary of employee supervisors shall be paid by position in accordance with the company's salary system. Payment of company independent directors is prescribed by the board of directors and submitted to the board of directors of the company and approved by the shareholders' general meeting.Actual payments: Since June 2022 Mr. Li Keqiang an independent director has voluntarily waived receiving allowances Other independent directors receive allowances in accordance with the allowance standards. Due to the salary management requirements of the State - owned Assets Supervision and Administration Commission (SASAC) the company's senior management received their salaries in accordance with the regulations of SASAC in 2024. As a result the overall salary level decreased compared with that in 2023. The total amount of payable remuneration received by the directors supervisors and senior management who receive salaries from the company is RMB 31737855. Remuneration of Directors Supervisors and Senior Management Personnel during the reporting period Unit: RMB Whether Total pre-tax remunerated remuneration Name Gender Age Position Office status by related- from the parties of the Company company Chairman and Zhu Huarong Male 59 Current 2257419 No Party Secretary Deng Wei Male 53 Director Current Yes Shi Male 44 Director Current Yes Yaoxiang Jia Lishan Male 54 Director Current Yes Zhao Fei Male 50 Director Current Yes Director Zhang Chief Financial Male 49 Current 1818133 No Deyong Officer Board Secretary Yang Independent Male 64 Current 200000 No Xinmin director Independent Li Keqiang Male 61 Current No director Independent Ding Wei Male 64 Current 200000 No director Tang Independent Male 62 Current 200000 No Guliang director Independent Zhang Ying Male 46 Current 200000 No director Independent Li Zhenyu Male 48 Current 50000 No director Supervisory Wenhong Male 58 Current Yes board chairman Sun Dahong Male 58 Supervisor Current Yes Shi Employee Male 53 Current 231107 No Shengwei supervisor 46Chongqing Changan Automobile Company Limited 2024 Annual Report Employee Luo Yan Female 50 Current 362491 No supervisor Tan Chief human Male 49 Current 1650976 No Benhong resources officer Pu Male 53 Chief risk officer Current 1616914 No Xingchuan Executive vice Ye Pei Male 49 Current 1856396 No president Executive vice Li Mingcai Male 43 Current 1805942 No president Yang Executive vice Male 50 Current 1851874 No Dayong president Executive vice Peng Tao Male 46 Current 1849524 No president Klaus Male 63 Vice president Current 2950000 No Zyciora Zhang Executive vice Male 45 Current 1836888 No Xiaoyu president Wang Executive vice Male 42 Current 1647271 No Xiaofei president Wang Hui Male 43 Vice president Current 1916247 No Zhang Fatao Male 42 Vice president Current 1737582 No Deng Male 38 Vice president Current 760117 No Chenghao Li Jun Female 55 Board secretary Outgoing 832673 No Executive vice Chen Wei Male 52 president Outgoing 1498882 Yes general counsel Cao Independent Male 53 Outgoing 150000 No Xingquan director Director and Wang Jun Male 52 Outgoing 2257419 No President Total -- -- -- -- 31737855 -- Explanation of other situations.□ Applicable √ Not applicable VI. Performance of Directors during the reporting period 1. Board of Directors in the reporting period Meeting session Date of Meeting Disclosure Date Meeting resolutionPlease refer to the “Resolution of the 15th Meeting of theThe 15th Meeting of the 9thJanuary 12 2024 January 13 2024 9th Board of Directors” (Announcement No.: 2024-03) on Board of Directors the website of Juchao Information for details The 16th Meeting of the 9th January 29 2024 Not involving matters that should be disclosed Board of DirectorsPlease refer to the “Resolution of the 17th Meeting of theThe 17th Meeting of the 9thFebruary 22 2024 February 23 2024 9th Board of Directors” (Announcement No.: 2024-07) on Board of Directors the website of Juchao Information for detailsPlease refer to the “Resolution of the 18th Meeting of theThe 18th Meeting of the 9thMarch 8 2024 March 9 2024 9th Board of Directors” (Announcement No. 2024-14) on Board of Directors the website of Juchao Information for detailsPlease refer to the “Resolution of the 19th Meeting of theThe 19th Meeting of the 9thApril 16 2024 April 18 2024 9th Board of Directors” (Announcement No. 2024-17) on Board of Directors the website of Juchao Information for details Please refer to the “2024 First Quarter Report” The 20th Meeting of the 9th April 29 2024 April 30 2024 (Announcement No. 2024-29) on the website of Juchao Board of Directors Information for details The 21st Meeting of the 9th Board May 10 2024 Not involving matters that should be disclosed of DirectorsThe 22nd Meeting of the 9th Please refer to the “Resolution of the 22nd Meeting of theJuly 12 2024 July 13 2024Board of Directors 9th Board of Directors” (Announcement No. 2024-39) on 47Chongqing Changan Automobile Company Limited 2024 Annual Report the website of Juchao Information for details The 23rd Meeting of the 9th July 15 2024 Not involving matters that should be disclosed Board of DirectorsPlease refer to the “Resolution of the 24th Meeting of theThe 24th Meeting of the 9thAugust 15 2024 August 16 2024 9th Board of Directors” (Announcement No. 2024-42) on Board of Directors the website of Juchao Information for details The 25th Meeting of the 9th August 19 2024 Not involving matters that should be disclosed Board of DirectorsPlease refer to the “Resolution of the 26th Meeting of theThe 26th Meeting of the 9thAugust 30 2024 August 31 2024 9th Board of Directors” (Announcement No. 2024-45) on Board of Directors the website of Juchao Information for detailsPlease refer to the “Resolution of the 27th Meeting of theThe 27th Meeting of the 9th September 19 September 20 9th Board of Directors” (Announcement No. 2024-57) on Board of Directors 2024 2024 the website of Juchao Information for detailsPlease refer to the “Resolution of the 28th Meeting of theThe 28th Meeting of the 9th September 25 September 26 9th Board of Directors” (Announcement No. 2024-60) on Board of Directors 2024 2024 the website of Juchao Information for details Please refer to the “2024 Third Quarter Report” The 29th Meeting of the 9th October 28 2024 October 29 2024 (Announcement No.: 2024-63) on the website of Juchao Board of Directors Information for details The 30th Meeting of the 9th November 14 Not involving matters that should be disclosed Board of Directors 2024Please refer to the “Resolution of the 31st Meeting of theThe 31st Meeting of the 9th Board November 27 November 28 9th Board of Directors” (Announcement No. 2024-66) on of Directors 2024 2024 the website of Juchao Information for detailsPlease refer to the “Resolution of the 32nd Meeting of theThe 32nd Meeting of the 9thDecember 6 2024 December 7 2024 9th Board of Directors” (Announcement No. 2024-69) on Board of Directors the website of Juchao Information for detailsPlease refer to the “Resolution of the 33rd Meeting of theThe 33rd Meeting of the 9th December 17 December 18 9th Board of Directors” (Announcement No. 2024-81) on Board of Directors 2024 2024 the website of Juchao Information for details 2. Attendance of directors at the board of directors and shareholders’ meeting Attendance at BOD meetings and shareholders' meeting Number of Absent from BOD meetings Number of Attendance by meetings for Attendance at that should be BOD meeting means of Attendance by Name Absence two shareholders’ attended in this attendance at communicatio proxy consecutive meetings reporting spot n times period Zhu Huarong 19 10 8 1 No 3 Deng Wei 19 6 8 5 No 0 Shi Yaoxiang 17 5 6 6 No 0 Jia Lishan 19 11 8 0 No 2 Zhao Fei 19 5 8 6 No 0 Zhang Deyong 19 10 8 1 No 5 Yang Xinmin 19 11 8 0 No 3 Li Keqiang 19 6 8 5 No 1 Ding Wei 19 10 8 1 No 3 Tang Guliang 19 10 8 1 No 3 Zhang Ying 19 9 8 2 No 3 Li Zhenyu 6 4 1 1 No 0 Cao Xingquan 13 6 7 0 No 2 Wang Jun 19 10 8 1 No 4 Explanation of the members of the Board who failed to attend Board meetings in person for two consecutive times Not applicable 3. The directors’ objections to the relevant matters of the company Disagreement of the directors on matters related to the Company □Yes √ No During the reporting period the directors did not raise objections to the relevant matters of the company. 48Chongqing Changan Automobile Company Limited 2024 Annual Report 4. Other statement of the directors performance of duties Whether the directors' suggestions on the company are adopted √Yes □ No Description of the directors on the adoption or non-adoption of relevant suggestions of the company During the reporting period the Company's directors fulfilled their duties diligently carried out work in strict accordance with relevant regulations such as the Company Law and the Articles of Association of the Company. The Company's directors paid attention to the company's standardized operation and business conditions made scientific and prudent decisions on various matters reviewed by the Company. At the same time they put forward valuable professional opinions or suggestions in areas such as technological innovation brand building and talent cultivation all of which were adopted or responded to effectively improving the company's standardized operation and scientific decision - making level and safeguarding the legitimate rights and interests of the company and all shareholders.VII. Duty Performance of Specialized Committees of the Board of Directors during the Report Period Specific Important Members Numbe Details Opinions Other Committ hip r of Date of of the Contents and Performanc ee Name Informati Meetin Meeting Objectio Suggestions e of Duties on gs held n (if put forward any) Tang Guliang January 2024 Audit Plan; 2023 Audit Work Unanimousl and Cao 31 2024 Report y passed Xingquan Communication on important March Unanimousl matters during the review of the 14 2024 y passed 2023 financial report Proposal on the provision reversal and cancellation of asset impairment reserves; 2023 Financial Report; 2023 Internal Control Evaluation Report; April Unanimousl Communication on audit results 15 2024 y passed and important issues for the year 2023; Proposal on the Tang Appointment of 2024 Financial Guliang Reporting Auditor and Internal Shi Control Reporting Auditor Yaoxiang Q1 2024 report; Report on Internal April Unanimousl Cao Audit Work for the First Quarter of Audit 29 2024 y passed Xingquan 2024 Committ 7 times Proposal on the provision ee reversal and cancellation of asset impairment reserves; 2024 Half Year Financial Report; Audit Work Report for the Second Quarter of August Unanimousl 2024; Report of the Audit 29 2024 y passed Committee of the Board of Directors on the Evaluation of the Performance of Accounting Firms in 2023 and the Performance of Supervisory Responsibilities Financial report for the third quarter of 2024; Report on the Tang Rectification of Opinions and October Unanimousl Guliang Suggestions from the Management 28 2024 y passed Shi of the Company in 2023; Internal Yaoxiang Audit Work Report for the Third Yang Quarter of 2024 Xinmin Decemb Overall Audit Strategy and Key Unanimousl er 26 Audit Matters for 2024 y passed 2024 49Chongqing Changan Automobile Company Limited 2024 Annual Report January Unanimousl Proposal on Adding Directors 12 2024 y passed Proposal on the Second Release of Februar Restricted Stock Incentive Plan for Unanimousl y 21 A-shares and the Achievement of y passed 2024 Release of Restricted Conditions during the Second Release Period Term based and Contractual April Unanimousl Evaluation Results for 2023 and 16 2024 y passed Implementation Plan for 2024 Nominati Proposal on adding independent on and Zhang directors; Proposal on Adjusting Salary Ying the Repurchase Price of A-share Assessme Tang 6 times Restricted Stock Incentive Plan nt Guliang August and Repurchasing and Cancelling Unanimousl Committ Ding Wei 29 2024 Some Restricted Stocks; Proposal y passed ee on the Initial Determination of Basic Annual Salary for 2024 for Members of the Company's Management Team 2023 Leadership Team Incentive Septemb Allocation Plan; Revision Plan for Unanimousl er 25 Term System and Contractual y passed 2024 Management Measures for Management Members Decemb Proposal on the Appointment of Unanimousl er 17 Senior Management Personnel y passed 2024 Proposal on the 2024 Financing Plan; Proposal on carrying out bill Februar pool business; Proposal on the Unanimousl y 21 Company and its Subsidiaries y passed 2024 Engaging in Foreign Exchange Hedging Business 2023 Financial Report and 2024 Financial Budget Explanation; 2024 Investment Plan; Proposal on establishing a joint venture April Unanimousl company for battery recycling 16 2024 y passed through equity participation; Proposal on Establishing a German Company; Proposal on Establishing a Dutch Company Strategy August Unanimousl Three year business rolling plan and Wang Jun 29 2024 y passed Investme Deng Wei 7 times nt Li Septemb Proposal on the actual controller Unanimousl Committ Keqiang er 25 providing entrusted loans to the y passed ee 2024 company; Proposal on Investment Proposal to purchase a portion of the equity of Changan Automobile Finance Co. Ltd. through public Novemb delisting; Proposal on Investment Unanimousl er 26 for the Global R&D Center y passed 2024 Construction Project (Phase II); Proposal on Land Acquisition and Storage and Signing of Formal Agreements Proposal on the company's compliance with the conditions for Decemb issuing A-shares to specific Unanimousl er 6 targets; Proposal on the issuance of y passed 2024 A-shares by the company to specific targets in 2024 involving related party transactions; 50Chongqing Changan Automobile Company Limited 2024 Annual Report Proposal on the company's plan to issue A-shares to specific targets in 2024; Proposal on the Plan for Issuing A-shares to Specific Targets by Chongqing Changan Automobile Co. Ltd. in 2024; Proposal on the Feasibility Analysis Report on the Use of Funds Raised by Chongqing Changan Automobile Co. Ltd.'s Issuance of A-shares to Specific Targets in 2024; Proposal on the Analysis Report of the Plan for Chongqing Changan Automobile Co. Ltd. to Issue A-shares to Specific Objects in 2024; Proposal to request approval from the shareholders' meeting of the company to exempt the CSG and its concerted action parties from issuing offers; Proposal on the signing of a conditional and effective share subscription agreement between the company and the subscribed parties regarding the issuance of A-shares to specific parties; Proposal on the Company's issuance of A-shares to specific targets in 2024 to dilute immediate returns take remedial measures and make commitments to relevant entities; Proposal on the Shareholders' Return Plan for Chongqing Changan Automobile Co. Ltd. in the Next Three Years (2024-2026); Proposal on Requesting the Shareholders' Meeting of the Company to Authorize the Board of Directors to Fully Handle Matters Related to the Issuance of A-shares to Specific Targets Proposal on increasing capital to joint venture enterprises; Proposal on increasing capital and expanding shares of the holding Decemb subsidiary through public listing; Unanimousl er 17 Proposal on the Disposal of Land y passed 2024 and Housing Assets of Yubei Factory and Signing of Acquisition Agreement; Proposal on the Disposal of Chongqing Lingyao Equipment Assets VIII. The work of the board of supervisors Whether the company was at risk during the report period according to the supervision of the board of supervisors □Yes √ No The Board of Supervisors supervised and inspected the legal compliance of the company's financial situation measurement of managing major affairs of the company operation and management activities and the implementation of major strategies.The Board of Supervisors has no objection to the supervision matters during the reporting period. 51Chongqing Changan Automobile Company Limited 2024 Annual Report IX. The Employees of the Company 1. The number of employees professional field and education level Number of incumbent employees in the parent company 36299 Number of incumbent employees in major subsidiaries 18820 Total number of incumbent employees 55119 Total number of incumbent salaried employees 55119 Number of retired employees for whom parent company and 2995 major subsidiary bear the costs Professional composition Professional fields Number Production 33296 Sales 2067 Technology 14645 Finance 445 Administration 1037 Management 3629 Total 55119 Educational Background Degree Number PhD 144 Master 4981 Bachelor 16758 Junior college 16814 Technical secondary school and high school 15359 Middle school and below 1063 Total 55119 2. Compensation policy The Company adheres to co-creating and profit sharing and continuously deepens the reform of its compensation system. It is performance-driven and result-oriented so that compensation reflects company earnings.The Company improves organizational vitality through rigorous performance management and enhances business operations through better labor cost management. It continuously improves the compensation system strengthens the benchmarking of performance-based compensation and improves the effectiveness of distribution. It also continuously improves the medium- and long-term incentive and restraint mechanisms closely linking the interests of crucial employees with the Company's medium- and long-term operations to support the Company's strategic development. 3. Training plan In 2025 employee training programs will focus on strategy reform products marketing hard work and effectiveness so that the Company transforms into an intelligent and low-carbon mobility technology provider. In 2025 it will continue to focus on the Vast Ocean Plan and quickly build up global capabilities by giving its Chinese workforce more international perspectives and assimilate its foreign hires culturally. It will strengthen employee empowerment carry out tiered and targeted training in areas such as brand customer service and product planning and reserve a group of strategic talents with great potentials. It attaches importance to production launches projects such as the Blue Whale Plan to train versatile talents and enable breakthroughs. 4. Outsourcing of services □ Applicable √ Not applicable X. Distribution of profits and capital reserve The formulation implementation or adjustment of profit distribution policies especially the formulation implementation or the adjustment situation of cash dividend policy.√ Applicable □Not applicable In accordance with the relevant regulations of the China Securities Regulatory Commission (CSRC) and the 52Chongqing Changan Automobile Company Limited 2024 Annual Report Shenzhen Stock Exchange and considering the actual situation of the company the Company's Articles of Association clearly stipulate the scope of distributable profits dividend distribution methods principles forms conditions and ratios for cash dividends conditions for stock dividends procedures for formulating and reviewing profit distribution plans implementation of the plans conditions for adjusting the distribution policy and the decision - making procedures etc. This strengthens the institutional guarantee for investors' dividend returns. For the company's specific profit distribution policy please refer to the Company's Articles of Association. The profit distribution plan of the company during the reporting period complies with relevant regulations such as the Company's Articles of Association.Special statement for cash dividend policy Whether it comply with the Articles of Association or the resolutions of the Yes shareholders' general meeting: Are the standard and the proportion of distribution clear: Yes Are the related decision-making process and mechanism thorough: Yes Have independent directors fulfilled their duties and performed their due roles: Yes If the company does not distribute cash dividends specific reasons should be Not Applicable disclosed as well as the measures to be taken next to enhance investor returns: Whether medium and minority shareholders have the chance to fully express their views and demands and whether the legitimate rights and interests are fully Yes protected: Whether cash dividend policy is adjusted or changed and whether the conditions Not Applicable and procedures are compliant and transparent: During the reporting period the company made profits and the parent company could distribute profits to shareholders but did not put forward the dividend distribution plan □ Applicable √ Not applicable Plans of profit distribution and increase of capital stock by transfer of capital reserve during the reporting period √ Applicable □Not applicable Number of bonus shares per ten shares (share) 0 Dividend per ten shares (RMB) (tax included) 2.95 Increased shares through transfer for per 10 shares 0 (shares) Equity base of distribution plan (shares) 9914086060 Cash dividends (RMB) (tax included) 2924655387.70 Cash dividend (RMB) of other means (such as 0.00 repurchase) Total cash dividend (RMB) (including other means) 2924655387.70 Distributable profits (RMB) 47158746846.13 Proportion (%) of cash dividends (including other 100% means) to total profit distribution Cash dividend policy： Others Detailed description of profit distribution or increase of capital stock by transfer of capital reservesThe 40th meeting of the 9th - session board of directors of the Company reviewed and approved the “2024 AnnualProfit Distribution Plan”. This proposal still needs to be submitted to the company's 2024 annual general meeting of shareholders for deliberation. It complies with the provisions of the company's articles of association. The relevant decision - making procedures and mechanisms are complete which fully protects the legitimate rights and interests of small and medium - sized investors.XI. Implementation of company equity incentive plans employee stock incentive plans or other incentive measures √ Applicable □ Not applicable 1. Equity incentive On July 13 2020 the 2nd meeting of the 8th Session of Board of Directors and the 2nd meeting of the 8thSession of Board of Supervisors reviewed and approved proposals such as “Proposal on and its Summary” and “Proposal on “. The independent directors expressedtheir independent agreement on the incentive plan. 53Chongqing Changan Automobile Company Limited 2024 Annual Report On February 1 2021 the 11th meeting of the 8th Session of Board of Directors and the 7th meeting of the 8thSession of Board of Supervisors reviewed and approved proposals such as “Proposal on and its Summary” and “Proposal on (Revision)”. The independent directors expressed their independent agreement on the incentive plan revision.On February 18 2021 the Company held the first extraordinary general meeting in 2021 and reviewed andapproved proposals such as “Proposal on and its Summary” “Proposal on “ and “Proposal on General Meeting Granting Full Authority to theBoard of Directors to Handle Matters Related to Equity Incentives”.On February 22 2021 the Company held the twelfth meeting of the Session of Board of Directors and the 8thmeeting of the Session of Board of Supervisors which reviewed and approved proposals such as “Proposal onAdjusting the List of Incentive Objects and Incentive Quantity of the A-Share Restricted Stock Incentive Plan underInitial Granting” and ““Proposal on Granting Restricted Stocks for the First Time to Incentive Objects of A-ShareRestricted Stock Incentive Plan”. The independent directors expressed their independent agreement.On March 3 2021 the Company completed the registration of restricted stocks and disclosed the“Announcement on the Completion of the Registration of the Initial Granting of the A-Share Restricted StockIncentive Plan”. 1247 people were actually granted with 76195400 restricted shares. The listing date of restricted shares was March 5 2021.On August 30 2021 the Company held the 25th meeting of the 8th Session of Board of Directors and the 12thmeeting of the 8th Session of Board of Supervisors which reviewed and approved the “Proposal on Adjusting theRepurchase Price of A-Share Restricted Stock Incentive Plan” and “Proposal on Repurchase and Cancellation ofCertain Restricted Shares Granted to Incentive Objects but still with Sales Restriction”. The independent directors expressed independent agreement.On September 17 2021 the Company held the second extraordinary general meeting in 2021 and reviewedand approved the “Proposal on Repurchase and Cancellation of Certain Restricted Shares Granted to IncentiveObjects but still with Sales Restriction”.On November 19 2021 the Company held the 29th meeting of the 8th Session of Board of Directors and the 15th meeting of the 8th Session of Board of Supervisors and reviewed and approved the “Proposal on Adjusting theAmount of Reserved A-Share Restricted Stock Incentive Plan” and “Proposal on Granting Reserved RestrictedStocks to the Incentive Objects of the A-Share Restricted Stock Incentive Plan”. The independent expressed independent agreement.On December 21 2021 the Company completed the repurchase and cancellation of all 1.036 million restricted shares that had been granted to the original 11 incentive objects but still had sales restrictions.On December 30 2021 the Company completed the registration of the reserved restricted stock and disclosed the “Announcement on the Completion of the Grant of the Reserved A-Share Restricted Stock of the Incentive Plan”; 356 people were granted with 17761200 reserved restricted stocks. The listing date of reserved restricted stocks was December 31th 2021.On August 2 2022 the company held the 43rd meeting of the 8th Board of Directors and the 18th meeting of the 8th Board of Supervisors and reviewed and approved the Proposal on Adjusting the Repurchase Price of A-share Restricted Stock Incentive Plan and Repurchasing and Cancelling Some Restricted Stocks. The independent directors of the company have expressed independent opinions that they agree with.On August 18 2022 the company held the third extraordinary general meeting of shareholders in 2022 and reviewed and approved the Proposal on Adjusting the Repurchase Price of the A-share Restricted Stock Incentive Plan and Repurchase and Cancellation of Some Restricted Stocks.On February 17 2023 the company held the 52nd meeting of the 8th Board of Directors and the 21st meeting of the 8th Board of Supervisors and reviewed and approved the Proposal on the Achievements of the First Release of Restriction Conditions during the First Grant Period of the A-share Restricted Stock Incentive Plan. The independent directors of the company have expressed independent opinions that they agree with.On March 3 2023 the company disclosed the “Indicative Announcement on the Release of Restricted Sharesfrom Listing and Circulation during the First Release Period of the First Grant Part of the A-share Restricted StockIncentive Plan” and the date of release of restricted shares from listing and circulation was March 6th 2023.On March 3 2023 the company disclosed the “Notice on the First Release of Restricted Shares during the FirstRelease Period of the A-share Restricted Stock Incentive Plan”. The date for the release of restricted shares is March 62023. 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 some of the original incentive recipients but had not yet been released from restrictions.On July 27 2023 the company held the first meeting of the ninth board of directors and the first meeting of the ninth board of supervisors and approved the proposal on revising the company's A-share restricted stock incentive plan. The independent directors of the company have expressed a unanimous independent opinion.On August 30 2023 the company held the third meeting of the ninth board of directors and the second meeting of the ninth board of supervisors and approved the proposal on adjusting the repurchase price of the A-share restricted stock incentive plan and repurchasing and canceling some restricted stocks. The independent directors of 54Chongqing Changan Automobile Company Limited 2024 Annual Report the company have expressed a unanimous independent opinion.On September 15 2023 the company held its second extraordinary general meeting of shareholders and approved the proposals on revising the company's A-share restricted stock incentive plan and adjusting the repurchase price of the A-share restricted stock incentive plan and repurchasing and canceling some restricted stocks.On December 5 2023 the company completed the repurchase and cancellation of a total of 2033967 restricted stocks that had been granted to some of the original incentive objects but had not yet been released from restrictions.On December 8 2023 the company held the 12th meeting of the 9th Board of Directors and the 4th meeting of the 9th Board of Supervisors and approved the proposal on the achievement of lifting the lock up conditions of the A-share restricted stock incentive plan. The company's nomination and salary assessment committee has issued a unanimous opinion.On December 27 2023 the company disclosed the “Notice on the Release of Restricted Shares from the A-share Restricted Stock Incentive Plan” with the date of release of restricted shares being January 2 2024.On February 22 2024 the company held the 17th meeting of the 9th Board of Directors and the 5th meeting ofthe 9th Board of Supervisors and approved the “Proposal on the Achievement of the Second Release of RestrictedPeriod and Release of Restricted Conditions for the A-share Restricted Stock Incentive Plan”. The company's nomination and salary assessment committee has issued a unanimous opinion.On March 2 2024 the company disclosed the “Notice on the Second Release of Restricted Shares during theSecond Release Period of the First Grant of the A-share Restricted Stock Incentive Plan” with the date of the release of restricted shares being March 5 2024.On August 30 2024 the company held the 26th meeting of the 9th Board of Directors and the 8th meeting of the 9th Board of Supervisors and approved the proposal on adjusting the repurchase price of the A-share restricted stock incentive plan and repurchasing and canceling some restricted stocks. The company's nomination and salary assessment committee has issued a unanimous opinion.On September 19 2024 the company held its third extraordinary general meeting of shareholders and approved the proposal on adjusting the repurchase price of the A-share restricted stock incentive plan and repurchasing and canceling some restricted stocks.On December 20 2024 the company completed the repurchase and cancellation of a total of 3.202973 million restricted shares that had been granted to some of the original incentive objects but had not yet been released from restrictions.On December 26 2024 the company disclosed the “Notice on the Second Release of Restricted Shares duringthe Second Release Period of the Reserve Grant for the A-share Restricted Stock Incentive Plan” and the date for the release of restricted shares for listing and circulation is December 31 2024.On February 21 2025 the company held the 38th meeting of the 9th Board of Directors and the 11th meeting of the 9th Board of Supervisors and approved the proposal on the achievement of the third unlocking period and unlocking conditions for the A-share restricted stock incentive plan. The company's nomination and salary assessment committee has issued a unanimous opinion.On March 4 2025 the company disclosed the “Notice on the Third Release of Restricted Shares during theThird Release Period of the First Grant of the A-share Restricted Stock Incentive Plan” with the date of release of restricted shares being March 5 2025.Equity incentives for directors and senior management √ Applicable □ Not applicable Unit: share Price of Number of Exercisab Shares Grant price shares Market price Number of Number of newly Number of le shares exercised of exercised at the end of restricted shares granted restricted during during restricted Name Position during the the reporting shares held at unlocked in restricted shares held at the the shares reporting period the beginning the current shares during the end of the reporting reporting (RMB/shar period (RMB/share) of the period period the reporting period period period e) (RMB/share) period Zhu Chairman and Party 13.363048501501502.73154700 Huarong Secretary Zhao Fei Director 13.36 236564 97097 -139467 2.73 0 Director chief Zhang accountant board 13.36 236564 116516 2.73 120048 Deyong secretary Tan Chief human 13.362365641165162.73120048 Benhong resources officer Executive vice Ye Pei 13.36 236564 116516 2.73 120048 president Li Executive vice 13.362365641165162.73120048 Mingcai president Yang Executive vice 13.36168974832266.8885748 Dayong president Executive vice Peng Tao 13.36 166570 82042 2.73 84528 president Zhang Executive vice 13.36166570820422.7384528 Xiaoyu president Wang Executive vice 13.36 115233 56757 2.73 58476 55Chongqing Changan Automobile Company Limited 2024 Annual Report Xiaofei president Wang Hui Vice president 13.36 115233 56757 2.73 58476 Zhang Vice president 13.36 166570 82042 2.73 84528 Fatao He Gang Vice president 13.36 76822 37838 2.73 38984 Board secretary Li Jun 13.36 166570 82042 -84528 2.73 0 (resigned) Executive vice Chen Wei president 13.36 236564 116516 2.73 120048 (resigned) Director president Wang Jun 13.36 243880 120120 2.73 123760 (resigned) Total -- -- -- 3110656 1512693 -223995 -- 1373968 1. As of the disclosure date of this report the above-mentioned personnel and their positions are as follows:; 2. The original initial grant price of the company's A-share restricted stock was 6.66 yuan/share and the reserved grant price was 9.93 yuan/share. The number of shares and grant prices mentioned above have been adjusted accordingly based on the Remarks (if any) implementation of the company's equity distribution plans from 2020 to 2023. 3. During the reporting period the number of newly granted restricted stocks subject to repurchase and cancellation totaled 223995 shares. Evaluation mechanism and incentives for senior managers For details please refer to “V. 3. Remuneration of Directors Supervisors and Senior Management” in Chapter 4. 2. Implementation of employee stock ownership plans □ Applicable √ Not applicable 3. Other employee incentives □ Applicable √ Not applicable XII. Internal Control System and Implementation during the Reporting Period 1. Internal Control and Implementation The Company has improved the organizational structure of internal control and enhanced effectiveness. A team of corporate internal control specialists has been assembled to form a working mechanism with clear accountability and smooth communication between different levels and improve cross-department communication. Key processes received internal control supervision throughout their execution. Said team provided risk consultation whenever and wherever processes took place participated in internal control process design and expressed opinions on important occasions to strengthen the effectiveness of internal control.Management systems have been improved so that the internal control system is more binding. A professional team was assembled to manage institutional documents objectives basic requirements and implementation plans to improve business efficiency. Design of internal control systems has been strengthened. Internal Control Evaluation Management Procedure and the Internal Control Evaluation Manual has been reviewed and revised. Scope of work and accountability in internal control have been made clear. Scope criteria and steps of internal control evaluation have been organized for closed-loop management of control evaluation and rectification.The Company has strengthened authorization management to cement the foundation of internal control. The Company's internal authorization management system has been reviewed authorization levels refined authorization matters clarified and authorization tables covering all businesses and organizational structures continuously updated.The Company has been assiduously assigning the right person to the right job and making roles and responsibilities clear.Internal control system has also been set up overseas to prevent risks. A systemic list detailing important management elements in each business area has been made to help units abroad at all levels improve management and documentations. Organizational structures and documentations have been set up in accordance with local laws regulations and realities. Professional teams have been assembled to supervise and oversee internal control overseas help identify and solve problems.Internal control evaluations have taken place for the system’s own betterment. All levels closely reference the Internal Control Evaluation Manual as they evaluate the effectiveness of internal control implementation identify problems formulate measures make improvements and ensure effective and disciplined operation of the Company's internal control system. 56Chongqing Changan Automobile Company Limited 2024 Annual Report 2. Details of significant defects in internal control during the reporting period □ Yes √ No XIII. Management and control of subsidiaries of the company during the reporting period Problems Integration Integration Follow-up Name encountered in Solutions taken Progress plan progress solution plan the integration Not applicable Not applicable Not applicable Not applicable Not applicable Not applicable Not applicable Note: During the reporting period the company did not make any new purchases of subsidiaries.XIV. Internal control self-evaluation report or internal control audit report 1. Self-evaluation report of internal control Date of Full-text disclosure of internal April 11 2025 control evaluation report Inquiry index of internal control evaluation www.cninfo.com.cn report full text disclosure The proportion of the total assets of units included in the evaluation scope to the total 100% assets in the company's consolidated financial statements The proportion of the operating income of the unit in the evaluation scope to the total 100% operating income of the company's consolidated financial statements Defect identification standard Type Financial reports Non-financial report 1. Lack of or violation of democratic 1. Fraud of the directors supervisors and decision-making procedures; senior managers of the Company. 2. Violation against state laws and 2. The Company shall correct the published regulations with serious punishment; financial report to correct major 3. Large loss of medium and senior misstatements caused by fraud or errors or management personnel and senior major misstatements in the current financial technical personnel; Qualitative standards report found by certified public accountants 4. Frequent and serious negative media but not identified by the company's internal coverage that spread far; control of the Company. 5. Lack of institutional control or 3. The Audit Committee has ineffective institutional system failure of important supervision over the company’s external business; financial reports and financial report internal 6. Major defects in internal control not control.rectified.The misstatement amount in the financial Identification according to the internal Quantitative standards statements in the following range: control defect quantitative standard in Misstated 1% of the total assets financial report.Number of material defects in financial 0 reports Number of material defects in non- 0 financial reports Number of important defects in financial 0 reports Number of important defects in non- 0 financial reports 2. Internal control audit report √ Applicable □ Not applicable Review opinions of the internal control audit report 57Chongqing Changan Automobile Company Limited 2024 Annual Report The audit opinion in the internal control audit report issued by Lixin Certified Public Accountants (Special General Partnership) is as follows: Chongqing Changan Automobile Co. Ltd. maintained effective internal control over financial reporting in all material aspects as of December 31 2024 in accordance with the Basic Standards for Enterprise Internal Control and relevant regulations.Disclosure of the internal control Disclosed audit report Date of full text disclosure of the April 11 2025 internal control audit report Inquiry index of Internal Control www.cninfo.com.cn Audit Report Opinion type of internal control Standard without reservations audit report Material defects in non-financial None reports Whether the accounting firm issues a non-standard opinion internal control audit report □Yes √ No Whether the internal control audit report issued by the accounting firm is consistent with the self-evaluation report of the board of directors √Yes □No XV. Rectification of self-inspection problems in the Special Action of Listed Companies According to the company’s self-inspection the company’s overall compliance operation shows that there are no issues requiring rectification. 58Chongqing Changan Automobile Company Limited 2024 Annual Report Chapter 5 Environmental and Social Responsibility Ⅰ. Major Environment Concerns Whether the listed company and its subsidiaries are reckoned as major pollutant discharging units by environment protection department or not √Yes □No Environmental protection-related policies and industry standards The company strictly implements the laws regulations standards and requirements for environmental protection in its production and operation. The regulatory standards include Environmental Protection Law of the People’s Republic of China Law on Air Pollution Prevention and Control Law of the People’s Republic of China on Prevention and Control of Water Pollution Law of the People’s Republic of China on Prevention and Control of Environmental Pollution by Solid Waste Law of People’s Republic of China on Environmental Impact Assessment etc.Administrative regulations or rules include Measures for the Administration of Environmental Monitoring Measures for the Administration of the List of Key Units of Environmental Supervision Administrative Measures for the Legal Disclosure of Enterprise Environmental Information Contingency Plan for Environmental Emergencies etc.National standards include Integrated Wastewater Discharge Standard Integrated Emission Standard of Air Pollutants Standard for Fugitive Emission of Volatile Organic Compounds Technical Requirement for Low- Volatile-Organic-Compound-Content Coatings Product Technical specification for operation of wastewater online monitoring system (CODCr NH3-N et al.) Technical Specification for Continuous Monitoring of Non-Methane Total Hydrocarbons in Waste Gas from Stationary Pollution Sources Technical guide for leak detection and repair of volatile organic compounds in industriesetc Technical Specifications for the Setting of Hazardous Waste Identification Signs etc. Industry standards include Technical Specification for Application and Issuance of Pollutant Permit Automotive Industry Foundry Industry Air Pollutant Emission Standards Technical Guidelines for Self- monitoring of Pollutant Discharging Units etc.Local standards include Emission standard of Air Pollutants for Surface Coating of Automobile Manufacturing Industry Emission Standard of Air Pollutants for Catering Industry Emission Standard of Air Pollutants for Boilers etc.The company collects and interprets the newly released and implemented regulations and standards quarterly and conducts compliance evaluations to ensure that the company’s production and operation are always legally compliant. In 2024 a total of 49 environmental protection regulations including the Catalogue of Solid Waste Classification and Code Management Measures for Pollutant Discharge Permits and National Hazardous Waste List (2025 Edition) were collected including 29 at the national level and 20 at the local level.Environmental Protection Administrative License ——Administrative License Information for Construction Projects During the reporting period a total of nine environmental impact assessment approval documents for construction projects were involved as follows: Name and document number of environmental Approval Name of construction project Approval Authority impact assessment approval document acquisition time Approval Letter for Environmental Impact Chongqing Lingyao Production Line Chongqing Municipal Assessment Documents of Construction Projects Leveling and Completing Technical Bureau of Ecology and January 5 2024 in Chongqing City Renovation Project Environment (YSHZ [2024] No. 3) Approval Letter for Environmental Impact Liangjiang New Area Jiangbei Engine Factory Capacity Assessment of Construction Projects in Branch of Chongqing Adjustment Efficiency Improvement January 25 2024 Chongqing City Ecological Environment Project (YLJHZ [2024] No. 13) Bureau Approval Letter for Environmental Impact Liangjiang New Area Changan Automobile HE Series Engine Assessment of Construction Projects in Branch of Chongqing Production Line Technical Renovation May 10 2024 Chongqing City Ecological Environment Project (Phase II) (YLJHZ [2024] No. 57) Bureau Technical Renovation Project of E16 Approval Letter for Environmental Impact Liangjiang New Area C385MAC Series Electric Passenger Assessment Document of Construction Projects Branch of Chongqing August 6 2024 Vehicle Production Line in the First in Chongqing Ecological Environment Factory Area of Liangjiang Factory (YLJHZ [2024] No. 86) Bureau 59Chongqing Changan Automobile Company Limited 2024 Annual Report Chongqing Changan Automobile Co. Approval Letter for Environmental Impact Chongqing Ltd. Yubei Factory Replacement and Assessment Documents of Construction Projects environmental protection August 6 2024 Green Intelligent Upgrade Construction in Chongqing City bureau Project (YSHZ [2024] No. 47) Chongqing Changan Automobile Co.Ltd. Intelligent Electric Vehicle Super Digital Platform Development Approval Letter for Environmental Impact Liangjiang New Area Verification Capability and Production Assessment of Construction Projects in Branch of Chongqing October 24 2024 Line Upgrade Construction Project Chongqing City Ecological Environment (EDS2 Series Electric Drive Controller (YLJHZ [2024] No. 114) Bureau Assembly Production Line Industrial CT Project) Chongqing Lingyao Production Line Approval Letter for Environmental Impact Chongqing Municipal Leveling and Completing Technical Assessment Documents of Construction Projects Bureau of Ecology and November 1 2024 Renovation Project (Re submitted for in Chongqing City Environment Approval) (YSHZ [2024] No. 64) Approval of the Environmental Impact Assessment Report for the Intelligent Upgrade Beijing Changan Automobile Company and Renovation Project of Beijing Changan Beijing Municipal D587 Series Electric Passenger Vehicle Automobile Company's D587 Series Electric Bureau of Ecology and November 14 2024 Production Line Intelligent Upgrade and Passenger Vehicle Production Line by the Beijing Environment Transformation Project Municipal Bureau of Ecology and Environment (JHS [2024] No. 118) Approval Letter for Environmental Impact Chongqing Lingyao Automobile Co. Banan District Assessment Documents of Construction Projects Ltd. Factory Acquisition Storage Ecological Environment December 24 2024 in Chongqing City Relocation and Reconstruction Project Bureau (YBHS (2024) No. 080) ——Information on administrative permission for pollutant discharge During the reporting period the original Jiangbei Engine Factory was renamed as the New Power Factory and the focus of pollutant discharge permit management was changed to simplified management. Each base involves a total of 25 pollutant discharge permit documents including 1 initial application 13 reapplication 10 changes 1continuation and 0 others. Please refer to the “National Pollutant Discharge Permit Management InformationPlatform” for details website: http://permit.mee.gov.cn.——Other administrative licensing information None.Industry emission standards and specific conditions of pollutant emissions involved in production and business activities Total Name of the Number of Distribution of Discharge Total Main pollutants and specific Discharge approved Excessive company or discharge discharge concentration Pollutant discharge standards discharge pollutants means discharge emissions subsidiary outlets outlets (mg/L) (Tons/year) (Tons/year) Codcr 47.61 20.43 116.20 — Ammonia 1.42 Integrated Wastewater Discharge 0.61 5.80 — nitrogen Two workshop Standard (GB8978-1996); Intermittent facility outlets Waste water Total nickel 3 0.02 Requirements for influent water 0.001 0.06 — emissions one factory quality of Chengbei sewage main outlet Total zinc 0.03 treatment plant 0.01 - — Phosphate 0.32 0.14 - — Chongqing Emission Standards for Air So2 0.48 1.50 5.15 — Changan Pollutants from Surface Coating Automobile of Automobile Manufacturing (DB Nox 4.19 13.13 45.63 — Co. Ltd. 50/577-2015) Emission Standards Yubei Surrounding for Air Pollutants from Industrial Particulate Organized Factory 0.05 0.15 — — Exhaust gas 34 the factory Kilns (DB 50/659-2016) emissions building Comprehensive Emission Vocs 5.64 23.02 111.30 — Standards for Air Pollutants (DB 50/418-2016) and Emission Toluene+Xylene 1.19 Standards for Air Pollutants from 3.74 — — Boilers (DB 50/658-2016) During the reporting period Chongqing Changan Automobile Co. Ltd. Yubei Factory was included in the list of key environmental supervision units (atmospheric environment environmental risk monitoring) in Yubei District Chongqing for Soil 2024. A total of 2412.17 tons of hazardous waste were generated in this period and 2412.17 tons have been legally utilized — and disposed of by manufacturers with hazardous waste management qualifications; 23652.26 tons of general industrial solid waste were generated and 23652.26 tons were utilized and disposed of.Chongqing Integrated Wastewater Discharge Codcr 37.94 6.29 30.97 — Changan A factory's Standard (GB8978-1996); Intermittent Automobile Waste water 1 main exhaust Requirements for Inlet Water Ammonia emissions Co. Ltd. outlet 7.98 Quality of Shiping Sewage 1.53 2.81 — nitrogen Yubei Treatment Plant Factory So2 Surrounding 1.35 Emission Standards for Air 0.84 1.38 — New Organized Exhaust gas 40 the factory Pollutants from Surface Coating Factory emissions Nox building 34.66 of Automobile Manufacturing (DB 7.85 12.17 — Area 60Chongqing Changan Automobile Company Limited 2024 Annual Report 50/577-2015); Emission Standards Particulate 0.15 0.17 — for Air Pollutants from Industrial Kilns (DB 50/659-2016); Comprehensive Emission Standards for Air Pollutants (DB Vocs 0.47 0.01 29.67 — 50/418-2016); Emission Standards for Air Pollutants from Boilers (DB 50/658-2016) During the reporting period the new factory area of Chongqing Changan Automobile Co. Ltd. in Yubei obtained its pollutant discharge permit for the first time on February 24 2024 and has not yet been included in the list of key environmental Soil supervision units. A total of 1753.29 tons of hazardous waste were generated in this period which have been legally utilized — and disposed of by manufacturers with hazardous waste management qualifications; 6546.92 tons of general industrial solid waste were generated and utilized for disposal.Codcr 73.12 7.93 14.02 — Integrated Wastewater Discharge Ammonia One workshop 1.74 Standard (GB8978-1996); 0.79 1.4 — nitrogen Intermittent facility outlet Waste water 2 Requirements for Inlet Water emissions one factory Total nickel 0.16 Quality of Guoyuan Port Sewage 0.01 0.04 — main outlet Treatment Plant Total zinc 0.13 0.02 0.28 — Emission Standards for Air Chongqing So2 0 0.00 1.23 — Pollutants from Surface Coating Changan of Automobile Manufacturing (DB Automobile Nox 73.8 13.76 18.23 — 50/577-2015); Emission Standards Co. Ltd.for Air Pollutants from Industrial (Two Rivers Particulate Surrounding 0 0.00 36.14 — Organized Kilns (DB 50/659-2016); Factory Exhaust gas 32 the factory emissions Comprehensive Emission One Factory Vocs building 4.03 7.70 63.06 — Standards for Air Pollutants (DB Area) 50/418-2016); Emission Standards for Air Toluene+Xylene 0.22 0.65 2.68 — Pollutants from Boilers (DB 50/658-2016) During the reporting period the Liangjiang Factory of Chongqing Changan Automobile Co. Ltd. was included in the list of key environmental supervision units (water environment atmospheric environment environmental risk monitoring) in Soil Liangjiang New Area Chongqing in 2024. A total of 1778.44 tons of hazardous waste were generated in this period and — 1780.44 tons have been legally utilized and disposed of by manufacturers with hazardous waste management qualifications; 16929.87 tons of general industrial solid waste were generated and 16929.87 tons were utilized and disposed of. Codcr 59 34.20 46.00 — Integrated Wastewater Discharge Ammonia One workshop 2.67 Standard (GB8978-1996); 1.53 4.60 — nitrogen Intermittent facility outlet Waste water 2 Requirements for Inlet Water emissions one factory Total nickel 0.01 Quality of Guoyuan Port Sewage 0.001 0.14 — main outlet Treatment Plant Total zinc 0.05 0.03 1.38 — Chongqing Emission Standards for Air So2 1.35 0.16 4.12 — Changan Pollutants from Surface Coating Automobile of Automobile Manufacturing (DB Nox 63.30 29.74 34.72 — Co. Ltd. 50/577-2015); Emission Standards (Second Surrounding for Air Pollutants from Industrial Particulate Organized 1.85 1.70 50.61 — Factory Exhaust gas 47 the factory Kilns (DB 50/659-2016); emissions Area of building Comprehensive Emission Liangjiang Vocs 0.24 5.63 543.23 — Standards for Air Pollutants (DB Factory) 50/418-2016); Emission Standards Toluene+Xylene 0.32 for Air Pollutants from Boilers 1.31 5.49 — (DB 50/658-2016) During the reporting period the second plant area of Chongqing Changan Automobile Co. Ltd.'s Liangjiang Factory was included in the list of key environmental supervision units (water environment atmospheric environment environmental risk monitoring) in Liangjiang New Area Chongqing in 2024. A total of 2799.83 tons of hazardous waste were generated in this Soil — period and 2800.34 tons have been legally utilized and disposed of by manufacturers with hazardous waste management qualifications; 31373.60 tons of general industrial solid waste were generated and 31373.60 tons were utilized and disposed of.Codcr 57.9 11.46 148.68 — Integrated Wastewater Discharge One workshop Total nickel 0.11 Standard (GB8978-1996); 0.002 0.16 — Intermittent facility outlet Waste water 2 Requirements for Inlet Water Ammonia emissions one factory 3.33 Quality of Guoyuan Port Sewage 0.64 6.68 — nitrogen main outlet Treatment Plant Total zinc 0.14 0.03 0.8 — Chongqing Emission Standards for Air Particulate 0.13 0.02 25.96 — Changan Pollutants from Surface Coating Automobile of Automobile Manufacturing (DB Vocs 2.91 1.21 130.93 — Co. Ltd. 50/577-2015); Emission Standards (Three Surrounding for Air Pollutants from Industrial SO2 Organized 0.38 0.02 1.85 — Factory Exhaust gas 42 the factory Kilns (DB 50/659-2016); emissions Areas of building Comprehensive Emission Liangjiang Toluene+Xylene 0.08 0.04 0.31 — Standards for Air Pollutants (DB Factory) 50/418-2016); Emission Standards Nox 57.11 for Air Pollutants from Boilers 9.73 23.92 — (DB 50/658-2016) During the reporting period the third plant area of Chongqing Changan Automobile Co. Ltd.'s Liangjiang Factory was included in the list of key environmental supervision units (water environment atmospheric environment environmental risk monitoring) in Liangjiang New Area Chongqing in 2024. A total of 1146.84 tons of hazardous waste were generated in this Soil — period and 1150.21 tons have been legally utilized and disposed of by manufacturers with hazardous waste management qualifications; 14064.41 tons of general industrial solid waste were generated and 14064.41 tons were utilized and disposed of.Chongqing Waste water Codcr Intermittent 2 One domestic 111.89 Integrated Wastewater Discharge 13.99 26.13 — 61Chongqing Changan Automobile Company Limited 2024 Annual Report Changan emissions sewage outlet Standard (GB8978-1996); Automobile Ammonia one factory Requirements for Inlet Water 9.141.402.61— Co. Ltd. nitrogen main outlet Quality of Guoyuan Port Sewage (New Power Treatment Plant Factory HE Particulate 10.73 9.14 — — Plant Area) Emission Standards for Air Pollutants from Industrial SO2 6.19 5.27 — — Surrounding Furnaces and Kilns (DB 50/659- Organized Exhaust gas Non methane 74 the factory 2016) ; emissions total building 3.08 Comprehensive Emission 2.63 — — hydrocarbons Standards for Air Pollutants (DB 50/418-2016) Nox 8.05 6.86 — — During the reporting period the HE plant area of Chongqing Changan Automobile Co. Ltd.'s new power factory was included in the list of key environmental supervision units (environmental risk monitoring) in Liangjiang New Area Chongqing in Soil 2024. A total of 6048.62 tons of hazardous waste were generated in this period and 6048.62 tons have been legally utilized — and disposed of by manufacturers with hazardous waste management qualifications; 1766.41 tons of general industrial solid waste were generated and 1766.41 tons were utilized and disposed of.Integrated Wastewater Discharge Codcr 98.53 7.23 11.08 — Standard (GB8978-1996); Intermittent Factory Waste water 1 Requirements for Inlet Water Ammonia emissions exhaust outlet 9.85 Quality of Guoyuan Port Sewage 0.72 1.11 — nitrogen Treatment Plant Non methane Chongqing total 11.28 Emission Standards for Air 3.15 — — Changan hydrocarbons Pollutants from Industrial Automobile Surrounding Furnaces and Kilns (DB 50/659- Co. Ltd. Nox Organized 12.08 3.37 — — Exhaust gas 39 the factory 2016); (NE Factory emissions building Comprehensive Emission Area of Particulate 61.33 17.12 — — Standards for Air Pollutants (DB New Power 50/418-2016) Factory) SO2 6.79 1.90 — — During the reporting period the NE plant area of Chongqing Changan Automobile Co. Ltd.'s new power factory was included in the list of key environmental supervision units (environmental risk monitoring) in Liangjiang New Area Chongqing in Soil 2024. A total of 6543.08 tons of hazardous waste were generated in this period which have been legally utilized and disposed — of by manufacturers with hazardous waste management qualifications; 438.46 tons of general industrial solid waste were generated and 438.46 tons were utilized and disposed of.Codcr 24.74 6.26 23.40 — Ammonia 1.77 Integrated Wastewater Discharge 0.51 3.00 — nitrogen One workshop Standard (GB8978-1996); Intermittent facility outlet Waste water Total nickel 3 0.05L Requirements for Inlet Water 0 0.003 — emissions two factory Quality of Banan Drainage Co.main outlets Total zinc 0.10 Ltd 0.01 — — Phosphate 0.08 0.03 0.13 — Chongqing Particulate 4.96 Emission Standards for Air 18.8 38.03 — Lingyao Pollutants from Surface Coatings Automobile Vocs 3.36 in Automobile Manufacturing (DB 10.57 111.40 — Co. Ltd Surrounding 50/577-2015); Organized Exhaust gas Toluene+Xylene 40 the factory 0.2 Comprehensive Emission 0.45 6.46 — emissions building Standards for Air Pollutants (DB SO2 3L 50/418-2016); 0 7.12 — Boiler Air Pollutant Emission Nox 9.46 Standards (DB 50/658-2016) 0.58 16.26 — During the reporting period Chongqing Lingyao Automobile Co. Ltd. was included in the list of key environmental supervision units (atmospheric environment environmental risk control) in Banan District Chongqing for 2024. A total of Soil 2603.37 tons of hazardous waste were generated in this period and 2603.37 tons have been legally utilized and disposed of by — manufacturers with hazardous waste management qualifications; 18388.50 tons of general industrial solid waste were generated and 18388.50 tons were utilized and disposed of.Codcr 52.94 8.74 63.68 — One workshop Ammonia facility exit 4.47 Comprehensive Emission 0.73 3.81 — nitrogen Intermittent Waste water 2 one factory Standards for Water Pollutants emissions Total nickel main exhaust 0.07 (DB11/307-2013) 0.001 0.01 — outlet Phosphate 2.15 0.34 5.09 — Chongqing Changan Emission Standards for Air Nox 28.23 1.33 3.18 — Automobile Pollutants in the Automotive Co. Ltd. Manufacturing Industry Vocs 9.21 22.15 458.76 — Beijing Surrounding (DB11/1227-2023); Organized Changan Exhaust gas 52 the factory Comprehensive Emission SO2 emissions — — — Automobile building Standards for Air Pollutants Co. Ltd (DB11/501-2017); Particulate Boiler Air Pollutant Emission — — — Standards (DB11/139-2015) During the reporting period Chongqing Changan Automobile Co. Ltd. and Beijing Changan Automobile Co. Ltd. were included in the list of key environmental supervision units (water environment atmospheric environment environmental risk Soil monitoring) in Beijing for 2024. A total of 527.18 tons of hazardous waste were generated in this period which have been — legally utilized and disposed of by manufacturers with hazardous waste management qualifications; 6013.42 tons of general industrial solid waste were generated and utilized for disposal.Two workshop Integrated Wastewater Discharge Hefei Codcr 32.07 29.99 169.55 — facility exits Standard GB8978-1996; Changan Intermittent Waste water Total nitrogen 3 one factory Standard for takeover of sewage Automobile emissions (calculated as main exhaust 9.73 treatment plants in western 9.33 43.98 — Co. Ltd N) outlet clusters 62Chongqing Changan Automobile Company Limited 2024 Annual Report Total nickel 0.03 0.002 0.09 — Total phosphorus 0.21 0.19 — — (calculated as P) Ammonia 0.910.8816.96— nitrogen Non methane Emission Control Standards for total 6.77 14.08 65.03 — Volatile Organic Compounds in hydrocarbons Industrial Enterprises DB12/524- Surrounding SO2 Organized 27 2020; Comprehensive Emission 8.67 — — Exhaust gas 76 the factory emissions Standards for Air Pollutants building Particulate 5.63 DB31/933-2015; 24.50 — — Boiler Air Pollutant Emission Nox 66.04 Standards (GB 13271-2014) 30.62 — — During the reporting period Hefei Changan Automobile Co. Ltd. was included in the list of key environmental supervision units (water environment atmospheric environment environmental risk monitoring) in Hefei City in 2024. A total of 2089.34 Soil tons of hazardous waste were generated in this period and 2093.88 tons have been legally utilized and disposed of by — manufacturers with hazardous waste management qualifications; 30064.53 tons of general industrial solid waste were generated and 30064.53 tons were utilized and disposed of.Codcr 35.82 6.84 43.08 — Total nitrogen (calculated as 4.62 Integrated Wastewater Discharge 0.92 1.20 — N) A factory's Standard (GB8978-1996); Intermittent Waste water 1 main exhaust Takeover Standard of Nanjing Total emissions outlet Lishui Qinyuan Wastewater phosphorus 0.56 0.09 0.39 — Treatment Co. Ltd (calculated as P) Ammonia 0.940.290.86— nitrogen Nanjing Emission Standards for Volatile Nox 0 0.22 — — Changan Organic Compounds from Surface Automobile Coating (Automotive Particulate 1.96 3.52 — — Co. Ltd Manufacturing Industry) Surrounding Organized (DB32/2862-2016); Exhaust gas Vocs 8 the factory 8.5 17.69 26.23 — emissions Comprehensive Emission building Standards for Air Pollutants (DB32/4041-2021); Boiler Air SO2 0 0 — — Pollutant Emission Standards (DB32/4385-2022) During the reporting period Nanjing Changan Automobile Co. Ltd. was included in the list of key environmental supervision units (water environment atmospheric environment environmental risk monitoring) in Jiangsu Province for 2024. A total of Soil 1251.66 tons of hazardous waste were generated in this period and 1256.03 tons have been legally utilized and disposed of by — manufacturers with hazardous waste management qualifications; 10485.65 tons of general industrial solid waste were generated and 10485.65 tons (including the old factory area) were utilized and disposed of.Ammonia 2.520.588.94— nitrogen Codcr 74.52 17.06 136.42 — Two workshop Integrated Wastewater Discharge Total nitrogen facility exits Standard GB8978-1996; (calculated as Intermittent 11.25 2.58 12.83 — Waste water 4 and two Requirements for Inlet Water N) emissions factory main Quality of Gezhouba Water Total exhaust outlets Management Dingzhou Branch phosphorus 1.48 0.34 1.92 — (calculated as P) Total nickel 0.02 0.005 0.09 — Hebei Comprehensive Emission So2 0.071 0.87 118.24 — Changan Standards for Air Pollution Automobile Non methane GB16297-1996 Emission Co. Ltd total 4.64 Standards for Air Pollutants from 78.18 1450.96 — hydrocarbons Industrial Furnaces DB1640-2012; Surrounding Organized Emission Control Standards for Exhaust gas Particulate 142 the factory emissions 0.49 Volatile Organic Compounds in 8.14 904.20 — building Industrial Enterprises DB13/2322- 2016; Nox 0.45 Emission Standards for Air 5.56 65.22 — Pollutants from Boilers DB13/5161-2020 During the reporting period Hebei Changan Automobile Co. Ltd. was included in the list of key environmental supervision units (water environment atmospheric environment soil pollution supervision) in Dingzhou City for 2024. A total of 1820.49 Soil tons of hazardous waste were generated in this period and 1850.90 tons have been legally utilized and disposed of by — manufacturers with hazardous waste management qualifications; 23805.03 tons of general industrial solid waste were generated and 23805.03 tons were utilized and disposed of.During the reporting period all units of the company met the emission standards for various pollutants and there were no cases of exceeding the standard or total emissions.Treatment of pollutants Types of pollutants Main processing techniques Processing method Venturi wet paint mist treatment/dry paper box paint Spray VOCs exhaust gas mist treatment+zeolite wheel adsorption+incineration Discretion Exhaust gas low-temperature plasma treatment Drying VOCs waste gas TNV or RTO incineration Discretion 63Chongqing Changan Automobile Company Limited 2024 Annual Report Activated carbon adsorption activated carbon filter Other VOCs waste gases Discretion cotton adsorption Test exhaust gas (nitrogen Automotive three-way catalytic converter Discretion oxides) Casting dust Bag filter Discretion Casting Odor Alkali solution adsorption or biological adsorption Discretion Aircraft fuel mist Mechanical filtration Discretion Self handling or outsourced Phosphating wastewater Coagulation sedimentation triple effect evaporation operation Self handling or outsourced Waste water Oily wastewater Oil separation+emulsion breaking+air flotation operation Self handling or outsourced Comprehensive wastewater Coagulation sedimentation+aerobic biochemistry operation Outsourced utilization and Waste solvent Utilize or incinerate disposal Outsourced utilization and Wet metal shavings Utilize disposal Aluminum ash residue Outsourced utilization and Utilize packaging drums disposal Solid waste Wastewater treatment Outsourced utilization and Landfill sludge disposal Recyclable general Outsourced utilization and Utilize industrial solid waste disposal Outsourced utilization and Other Burning or landfilling disposal Noise Mechanical noise Vibration reduction and sound insulation Discretion During the reporting period 52 sets of waste gas treatment facilities and 8 sets of wastewater treatment facilities were added Specifically there are 46 sets of VOCs waste gas welding smoke and other waste gas treatment facilities and 8 sets of painting waste gas and domestic sewage treatment facilities in the new factory area of Yubei. In addition five sets of activated carbon adsorption waste gas treatment facilities have been added to the hazardous waste room and tooling cleaning room of Liangjiang Factory. Moreover one set of activated carbon adsorption waste gas treatment facility has been added to the tooling cleaning room and laundry room in Nanjing Changan. Pollution control facilities are included in the preventive maintenance management of equipment just like production equipment. Operation and maintenance operation manuals preventive maintenance procedures and preventive maintenance plans have been established. Equipment inspection dosing slag removal consumables replacement and other operation and maintenance records are complete. Key environmental supervision units (water environment atmospheric environment) have installed automatic monitoring facilities for wastewater and exhaust gas in accordance with the requirements of the local ecological environment department and commissioned third-party professional companies to operate and maintain them. During the reporting period pollution control facilities and automatic monitoring facilities were operating normally.Contingency Plan for environmental emergencies Each base has conducted risk assessments and emergency resource investigations for sudden environmental incidents in accordance with regulations formulated (revised) emergency plans for sudden environmental incidents and environmental risk units have developed on-site disposal plans and continuously carried out hidden danger investigation and treatment. During the reporting period the new factory area of Yubei completed the risk assessment of sudden environmental incidents emergency resource investigation and the preparation and filing of emergency plans for sudden environmental incidents. Beijing Changan and Hebei Changan completed the revision and filing.Each base shall develop emergency drill plans in accordance with regulatory requirements and carry out emergency drills as planned continuously improving the practicality of emergency plans and the emergency response capabilities of employees. There were no sudden environmental incidents during the reporting period.Environmental self-monitoring plan During the reporting period all key units of the company's environmental supervision have prepared self- monitoring plans and carried out self-monitoring in accordance with the requirements of laws and regulations and disclosed monitoring information on self-monitoring data release platforms of various provinces as required by local ecological environment authorities. See the following table for the public websites.Environmental Self-Monitoring Plan Unit Name Website Disclosure Platform Yubei Factory Liangjiang Factory Key Pollution Source Monitoring Data Release http://119.84.149.34:20003/publish2/dataSearc Jiangbei Engine Factory Chongqing Platform hPub/entList.aspx Lingyao National Pollutant Discharge Permit https://permit.mee.gov.cn/perxxgkinfo/syssb/x Beijing Changan Automobile Company Management Information Platform Open End kgg/xkgg!licenseInformation.action 64Chongqing Changan Automobile Company Limited 2024 Annual Report Anhui Province Pollutant Discharge Unit Self Hefei Changan Automobile Co. Ltd https://wryjc.cnemc.cn/gkpt/mainZxjc/340000 Monitoring Information Release PlatformJiangsu Province Enterprise “Environmentalhttp://218.94.78.61:8080/newPub/web/home.htNanjing Changan Automobile Co. Ltd Protection Facebook” Information Disclosure m Platform Hebei Province Pollutant Discharge Unit Self Hebei Changan Automobile Co. Ltd https://wryjc.cnemc.cn/gkpt/mainZxjc/130000 Monitoring Information Disclosure Platform Investment in environmental treatment and protection and payment of environmental protection tax The company’s environmental protection investment mainly includes: the construction of environmental protection facilities operation and maintenance of environmental protection facilities solid waste transportation and disposal (hazardous waste included) sewage treatment monitoring revision of contingency plans purchase of emergency materials environmental protection tax etc.The company paid environmental protection tax of RMB 1096900 in 2024.Measures taken to reduce carbon emissions during the reporting period and effects √ Applicable □Not applicable The Company's dual-carbon goals: Achieve peak carbon by 2027 carbon neutrality by 2045 reduce carbon dioxide emissions per 10000 yuan of output value by 30% by 2030 and reduce carbon emissions in the supply chain by 30% by 2030.The Company's manufacturing department has taken various carbon-reduction initiatives effectively achieving a 2.2% year-on-year decrease in carbon emissions per vehicle manufactured and a 10% year-on-year decrease in carbon emissions per engine. Specifically: (1) The Company has taken every opportunity to decarbonize its production and manufacturing process. 41 carbon-reduction measures have been taken such as energy-efficiency process improvement efficient start-stop and improved production scheduling resulting in carbon reduction of 13000 tons. (2) Green and low-carbon transformation of the energy structure gathered pace. Plants in Chongqing Hefei Nanjing Beijing and other places have added 95MW of distributed photovoltaic power stations to provide clean energy for their own use. Total green electricity consumption throughout the year exceeded 100 million kWh with photovoltaic power contributing 17.4% reducing 91000 tons in emissions. (3) The Company actively assumes its responsibilities as a major emitter and met its obligations in carbon quota pilot programs. Both the Beijing and Chongqing facilities ended the period within quota limits totaling 23000 tons.Meanwhile the Company actively built demonstration programs for green factories. Liangjiang Factory has won the national green factory title and Chongqing Lingyao Factory has won the provincial green factory title. By the end of 2024 The Company had had two national green factories and two provincial green factories. All its production facilities are expected to be certified green before 2030.The Company works hard to decarbonize its products as it relentlessly researches low-carbon technologies. In 2024 the Company reduced carbon footprint on its available models by an average of 1.94% year on year. Specifically: (1) It developed the New BlueCore HE-series engine dedicated to hybrid powertrains featuring 44.39% in peak thermal efficiency. A P13 dual-motor hybrid electric drive has been developed with P3 motor generating 158kW of power and a drive efficiency of 97.3%. An EDS3 electric drive came out with rated efficiency of 90.5% (Si) compatible with vehicles of A class and above. Hydrogen engine (HICE) technology is also in the works. When paired with electrified components it is expected to achieve a raw NOx emission of ≤3.4mg/km under WLTC with charge depleted or near-zero emissions. (2) The Company’s proprietary CTV battery has completed the onboard pilot program and is ready for mass production with an integrated efficiency of over 76%. Liquid-state batteries with 4C fast-charging technology are in full production while a prototype solid-state Ah-level battery cell has been produced. The EDS2-B electric drive system entered mass production with a rated efficiency of 92.5%. (3) Key technologies such as ultra-low wind resistance low-drag calipers low-friction bearings and low- rolling-resistance tires are in the pipeline. A high-precision all-scene energy-flow simulation and breakdown system has been established. (4) The Company is researching 15 low-carbon and low-density materials such as 30% recycled aluminum alloy and low-density PET fiber felt. It is learning the effect of recycling on material performance ways to regulate said effect and pre-treatment technology for recycled materials. 12 materials such as bio-based PU and 30% recycled PP have been used on an industrial scale. 65Chongqing Changan Automobile Company Limited 2024 Annual Report Administrative penalties imposed for environmental reasons during the reporting period None.Other environmental information that should be made public During the reporting period the environmental information of each unit of the company was disclosed on the “Environmental Information Disclosure System” in various provinces and cities where it is located. The public website is detailed in the table below.Legal Disclosure System for Enterprise Unit Name Public website Environmental Information Yubei Factory Liangjiang Factory Legal Disclosure System for Enterprise Jiangbei Engine Factory http://183.66.66.47:10001/eps/index/enterprise -search Environmental Information (Chongqing) Chongqing Lingyao Beijing Changan Automobile Legal Disclosure System for Enterprise https://hjxxpl.bevoice.com.cn:8002/home Company Environmental Information (Beijing) Hefei Changan Automobile Co. Legal Disclosure System for Enterprise https://www.ahzwfw.gov.cn/wqt-web/index.html#/reportInfo Ltd Environmental Information (Anhui) http://ywxt.sthjt.jiangsu.gov.cn:18181/spsarchive - Nanjing Changan Automobile Co. Legal Disclosure System for Enterprise webapp/web/viewRunner.html viewId= Ltd Environmental Information (Jiangsu) http://ywxt.sthjt.jiangsu.gov.cn:18181/spsarchive - webapp/web/sps/views/yfpl/views/yfplHomeNew/index.js Hebei Changan Automobile Co. Legal Disclosure System for Enterprise http://121.29.48.71:8080/#/guide Ltd Environmental Information (Hebei) Other environmental protection-related information 1. Environmental credit evaluation During the reporting period production bases such as Liangjiang Factory New Power Factory Yubei Factory and Chongqing Lingyao conducted environmental credit evaluations for the year 2023 in accordance with the requirements of the local ecological and environmental authorities. Liangjiang Factory New Power Factory Yubei Factory Chongqing Lingyao and Hefei Changan have been rated as environmental integrity enterprises. 2. Information on Green Supply Chains The Company actively exerts its influence over the industry. Supply chain decarbonization and sustainability are among its top concerns. It is committed to building a management system to regulate a green low-carbon and sustainable supply chain through sound strategies green procurement and supplier management green production recycling green information platforms and disclosure. The Company champions green design and green production through elimination of energy-hungry equipment and dynamic supply chain management.The Company collects carbon emission data of suppliers' products and works with its suppliers to decarbonize.It has drafted the ChangAn Business Partner Code of Conduct the Carbon Emission Data Management Model and Guidelines for Supplier Carbon Emission Accounting Methods and set up a carbon target management system.Through VOC control restricted substance management special supply requirements green procurement ratings and other methods the Company collaborates with suppliers to improve environmental protection encourages suppliers to save energy and reduce emissions and regulates the IATF16949 quality management system certificates and ISO14001 environmental certification certificates. 99% of the suppliers have passed the IATF16949 certification 98% have passed the ISO14001 certification and 22% have been short-listed as national green factories or green supply chain management companies. In 2024 the Company won titles and awards such as National Demonstration Company for Supply Chain Innovation and Application Chinese Industrial Leader for Peak Carbon and Excellent Case of Green Supply Chain Management.Regarding hazardous substance management the Company declares and releases data through CAMDS and does comprehensive analysis and data accounting through the ELV compliance system. This collects and regulates information including automotive material data and energy consumption.The recycling service outlets for the Company's scrapped vehicles can be queried through http://www.cagds.org.cn (or CAGDS). Qualifying recyclers and dismantlers can log in to http://www.cagds.org.cn to access dismantling manuals for passenger cars of category M1. Users can obtain relevant information of the vehicle's dismantling manual through the WeChat mini-program Automobile Dismantling Manual Identification and Analysis Tool.Information on the battery recycling service outlets can be obtained through the Company’s Official Website (https://www.changan.com.cn).II. Social Responsibility The full text of the company's 2024 environmental social and governance (ESG) report has been published on the same day as the company's annual report on http://www.cninfo.com.cn. 66Chongqing Changan Automobile Company Limited 2024 Annual Report III. Efforts to Enhance Poverty Alleviation and Rural Revitalization Programs Guided by Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era the Company fully implements the spirit of the 20th National Congress of the Communist Party of China and all subsequent plenary sessions. It thoroughly studies and comprehends a series of new ideas viewpoints and assertions of the CPC Central Committee and the State Council on promoting all-around rural revitalization earnestly implements the government's work arrangements strictly adheres to the requirement of four Non-removals learns and applies the experience of the Ten-million Project. It organically combines the Company's strengths with local characteristics anchors the target tasks and steadily and orderly conducts targeted assistance work to promote a dual improvement in quantity and quality contributing its strength to promoting all-around rural revitalization.(I) Strengthening organizational leadership The Company held nine leadership meetings for Targeted Assistance Work to formulate systematic work plans.It also held 12 special work meetings on targeted assistance for rural revitalization to identify key assistance projects make plans and formulate measures before getting down to work. Company leaders visited Luxi and Yanshan in Yunnan and Youyang in Chongqing for inspections and research and advanced the implementation of targeted assistance projects on-site.(II) Securing assistance funds The Company allocated a total of 10.6 million yuan in assistance funds including 2.5 million yuan for Luxi County in Yunnan and 8.1 million yuan for Yanshan County in Yunnan. These funds are used for the all-around revitalization of rural businesses human capital culture ecology and organizations in the two counties to help rural businesses prosper preserve ecological environment advocate civilized rural customs promote effective governance and bring prosperity.(III) Promoting industrial assistance The Company continues to carry out the targeted assistance project for Youyang tea-oil. First it assisted in marketing and expanding sales channels. Through the Company's sales channels it helped Chongqing Youzhou Camellia Oil Technology Co. Ltd. achieve sales of 31.72 million yuan. Second the Company helped enhance the brand and corporate image of the tea oil maker. The Company launched many far-reaching public-service activities where Youyang tea-oil was presented such as partner conferences Chongqing Marathon and international auto shows like the one in Chongqing to broaden the impact of said public-service activities and set up a model for other companies to fulfill their social responsibilities. Third the Company improved the operation and management system of Chongqing Youzhou Camellia Oil Technology Co. Ltd. It assisted in shaping the corporate culture to improve the management system. Fourth the Company researched carbon-sink methods. It researched the basic situation of Youyang tea-oil both locally and nationwide and drafted a Methodology for Carbon Sequestration and Emission Reduction Projects in Camellia Oil Production to aid the sustainable development of Chongqing Youzhou Camellia Oil Technology Co. Ltd.(IV) Implementing consumer assistance Focusing on promoting the stable sales of assistance products the Company widely guided all its units and employees to purchase specialty agricultural products from the assisted areas. The Company actively participated in activities such as the Spring Festival Action for Central Enterprises' Consumer Assistance and the Week of Central Enterprises' Consumer Assistance for Rural Revitalization and provided assistance worth 2.12 million yuan including 1.57 million yuan for the two counties in Yunnan and 0.55 million yuan for other regions practically aiding the industrial development in poverty-stricken areas and the stable income increase for people who recently escaped poverty.(V) Providing skills-based assistance Leveraging the advantages of its main automotive business and focusing on skills training the Company established two ChangAn Automobile Classes in Luxi County and Yanshan County in Yunnan Province and Youyang County in Chongqing. It held two lectures by workers and experts in schools and four recruitment events in the assisted areas. A total of 300 students were hired demonstrating the effectiveness of skills-based assistance while bringing a steady increase in of local people.(VI) Summarizing and publicizing The Company submitted a rural revitalization practice case titled A Grove of Camellia Trees Paves the Way for Revitalization to the Publicity Bureau of the State-owned Assets Supervision and Administration Commission (SASAC) and People's Daily Online publicizing and promoting its effective and distinctive rural revitalization practices. It won the Centralized Exhibition Award at the 7th Exhibition of Excellent Stories and AIGC Creative Communication Works of Central Enterprises. It also submitted a rural revitalization practice case titled ChangAn Automobile: Assisting Youyang Tea-Oil in Rural Revitalization to the Social Responsibility Bureau of the SASAC which was included in the Blue Book on Overseas Environment Social and Governance (ESG) of Central Enterprises. 67Chongqing Changan Automobile Company Limited 2024 Annual Report Chapter 6 Important Matters I. The implementation status of commitments 1. Commitment items that have been fulfilled during the reporting period and those that remain unfulfilled as of the end of the reporting period made by relevant commitment parties such as the company's actual controllers shareholders related parties acquirers and the company itself.√ Applicable □Not applicable Type of Undertakings Undertaking party Description Date Duration Performance undertaking China South Industries Group From November 7th 2023 within 6 Co. Ltd.; China Changan Sales months the company will not reduce Other November 6 Fulfillment Automobile Group Co. Ltd.; restrictions its holdings through centralized commitments 2023 Months completed Southern Industry Asset for shares bidding or bulk trading in the Management Co. Ltd. secondary market.Whether the promise is Yes fulfilled as scheduled 2. Explanation on whether assets or projects reach the earnings forecast and reasons when there is earning forecast for asset or projects and the reporting period is within the forecast period.□ Applicable √ Not applicable II. Non-operating funds the listed company occupied by controlling shareholders and their related parties □ Applicable √ Not applicable During the reporting period there was no non-operating funds of the listed company occupied by the controlling shareholder and related parties.III. Irregular external guarantee □ Applicable √ Not applicable The Company has no irregular external guarantee during the reporting period.IV. Explanation of the Board of Directors on the latest “Non-standard AuditReport” □ Applicable √ Not applicable V. Explanation of the “Non-Standard Audit Report” issued by the accounting firm during the reporting period by the BOD BOS and independent directors (if any) □ Applicable √ Not applicable 68Chongqing Changan Automobile Company Limited 2024 Annual Report VI. Explanation of changes in accounting policies accounting estimates and remedies for significant accounting errors √ Applicable □ Not applicable Please refer to “(31) Changes in Significant Accounting Policies and Accounting Estimates” in Note 3 to the financial statements for details.VII. Explanation of changes in the consolidated statement scope compared to the last annual report □ Applicable √ Not applicable There was no change in the scope of the company's consolidated financial statements during the reporting period.VIII. Appointment and dismissal of the accounting firm The appointed accounting firm Lixin Certified Public Accountants (Special General The name of the domestic accounting firm Partnership) Payment (RMB: 10000) 324.90(Excluding tax) Years of audit services 2 Names of Certified Public Accountants Zhu Yuqin Wang Kai Years of services provided by Certified Public 2 Accountants Whether to re-appoint the accounting firms □Yes √ No Description of hiring the internal control accounting firm financial adviser or sponsor √Applicable □ Not applicable After the 19th meeting of the 9th Board of Directors and the 2023 Annual General Meeting of Shareholders the proposal on appointing auditors for the 2024 financial report and internal control report has been approved. The company has hired Lixin Certified Public Accountants (Special General Partnership) as the auditor for the 2024 internal control report. The internal control audit fee paid by the company for the internal control audit services provided by Lixin Certified Public Accountants (Special General Partnership) in 2024 is RMB 949800 (excluding tax).IX. Facing delisting after annual report disclosure □ Applicable √ Not applicable X. Bankruptcy and restructuring □ Applicable √ Not applicable During the report period there is no bankruptcy or restructuring.XI. Crucial litigation and arbitration □ Applicable √ Not applicable During the reporting period the company has no crucial litigation and arbitration.XII. Punishment and rectification □ Applicable √ Not applicable During the reporting period there’s no punishment and rectification. 69Chongqing Changan Automobile Company Limited 2024 Annual Report XIII. The integrity of company its controlling shareholder and actual controller □ Applicable √ Not applicable XIV. Significant related-party transactions 1. Related-party transactions related to daily operation For details please refer to Note 12 “Related Party Relationships and Transactions” under the Chapter 10. 2. Related-party transactions of acquisition or sales of assets or equity □ Applicable √ Not applicable 3. Related-party transactions of common foreign investment □ Applicable √ Not applicable 4. Related rights and debt relations √Applicable □Not applicable For details please refer to Note 12 “Related Party Relationships and Transactions” under the Chapter 10.Whether there is any non-business related credits and debts □Yes √ No There is no non-operating associated credits and debts during the reporting period. 5. Transactions with associated financial companies √ Applicable □Not applicable Deposit Amount incurred in the current Maximum period Beginning daily deposit Total Ending balance Related party Relationship Interest rate balance (RMB: Total deposit limit (RMB: withdrawal (RMB: 10000) 10000) amount (RMB: 10000) amount (RMB: 10000) 10000) A company China South controlled by Industries the actual 20000000.1%-3.5%199260215248059152427911997870 Group Finance controller of Co. Ltd. Changan Automobile A company Changan controlled by Automobile the actual 20000001.85%-2.25%1499000141500015490001365000 Financing Co. controller of Ltd. Changan Automobile Loan Amount incurred in the current period Beginning Loan amount Total Ending balance Related party Relationship Interest rate balance (RMB: Total amount (RMB: 10000) repayment (RMB: 10000) 10000) of loan (RMB: amount (RMB: 10000) 10000) China South A company Industries controlled by 1000001%-2.8%76005100040058200 Group Finance the actual Co. Ltd. controller of 70Chongqing Changan Automobile Company Limited 2024 Annual Report Changan Automobile Credit granting or other financial business Total amount (RMB: Actual amount incurred Related party Relationship Business 10000) (RMB: 10000) A company controlled by China South Industries the actual controller of Credit granting 1700000 273115 Group Finance Co. Ltd.Changan Automobile 6. Transactions between the financial company controlled by the company and related parties □ Applicable √ Not applicable 7. Other significant related-party transactions √ Applicable □Not applicable Interim announcement of major related-party transactions on the website Interim Interim announcement announcement Wsebsite date Expected Announcement of Daily Related Transactions for 2024 April 18 2024 Announcement on Related Transactions Signing the Financial Service April 18 2024 Agreement with China South Industries Group Finance Co. Ltd.Announcement on Related Transactions Signing the Financial Service April 18 2024 Agreement with Changan Automobile Financing Co. Ltd.Announcement on the Proposed Purchase of Partial Equity and Related November 28 Transactions of Changan Automobile Financing Co. Ltd. through http://www.cninfo.com.cn 2024 Public Delisting Announcement on the Signing of a Conditional and Effective Share December 7 Subscription Agreement and Related Transactions between the 2024 Company and the Subscription Object Announcement on Capital Increase of an Associated Enterprise and December 18 Related - Party Transactions 2024 XV. Major contracts and their performance 1. Custody contracting and leasing （1）Custody □ Applicable √ Not applicable Custody information There is no custody during the reporting period. （2）Contracting □ Applicable √ Not applicable Contracting information There is no contracting during the reporting period. （3）Leasing √ Applicable □Not applicable Leasing informationLeasing of related parties can be found in Item 5 (2) of Note 12 of Financial Statements “Related Party andRelated Transactions”.Projects whose profit and loss to the company account for more than 10% of total profits during the reporting period.□ Applicable √ Not applicable 71Chongqing Changan Automobile Company Limited 2024 Annual Report During the reporting period the Company did not have any leasing projects that contributed to profits or losses amounting to over 10% of the Company's total profit for the reporting period. 2. Guarantee □ Applicable √ Not applicable There is no guarantee during the report period. 3. Entrustment of cash asset management (1) Entrust wealth management □ Applicable √ Not applicable There is no entrusting wealth management during the reporting period. (2) Entrusted loans □ Applicable √ Not applicable There is no entrusted loan during the reporting period. 4. Other major contracts □ Applicable √ Not applicable There are no other major contracts of the Company during the reporting period.XVI. Other important events √ Applicable □ Not applicable On February 9 2025 the company received a notice from its indirect controlling shareholder CSG stating that it is planning a restructuring with other state-owned and central enterprise groups. This restructuring may result in a change in the controlling shareholder of our company but it will not lead to a change in the actual controller. For specific details please refer to the “Advisory Announcement on the Proposed Change of Controlling Shareholder” (Announcement No.: 2025-05) disclosed by the company on February 10 2025 on the website of Juchao Information Network (www.cninfo. com. cn).XVII. Important matters of the Company’s subsidiary □ Applicable √ Not applicable 72Chongqing Changan Automobile Company Limited 2024 Annual Report Chapter 7 Share Changes and Shareholder Information Ⅰ. Change in shareholdings 1. Change in shareholdings Unit: One share Before change Changes (+ -) After change Additional Stock Provident Quantity Ratio Other Subtotal Quantity Ratio issued dividend fund transfer Shares with sales restrictions 104805899 1.06% -51646644 -51646644 53159255 0.54% 1. State-owned legal person shares 2. Other domestic shares 104192889 1.05% -51223958 -51223958 52968931 0.54% Including: domestic legal person shares domestic natural person 1041928891.05%-51223958-51223958529689310.54% shares 3. Foreign shares 613010 0.01% -422686 -422686 190324 0.00% Including: foreign legal persons shares foreign natural person 6130100.01%-422686-4226861903240.00% shares Shares without sales 981248313498.94%4844367148443671986092680599.46% restrictions 1.Ordinary shares 817086835782.39%4844367148443671821931202882.90% denominated in RMB 2. Domestic listed foreign 164161477716.55%164161477716.56% shares Total shares 9917289033 100.00% -3202973 -3202973 9914086060 100.00% Reasons for share change √ Applicable □ Not applicable (1) A-share restricted stock incentive plan lifting restricted shares for listing and circulation On March 5 2024 the company lifted its restricted shares and listed them for circulation with a total of 43135948 shares. For specific details please refer to the “Announcement on the Second Release of RestrictedShares during the Second Release Period of the First Grant of the A-share Restricted Stock Incentive Plan”. On December 31 2024 the company lifted the restrictions on the listing and circulation of shares with a total of 6961746 shares. For specific details please refer to the “Announcement on the Second Release of Restricted Sharesduring the Second Release Period of the A-share Restricted Stock Incentive Plan”. The above-mentioned incentive targets for lifting restrictions include some directors and senior management personnel of the company and the stocks obtained will be locked in accordance with relevant laws and regulations. (2) Partial A-share restricted stock repurchase and cancellation On December 20 2024 the company completed the repurchase and cancellation of a total of 3202973 restricted stocks that had been granted to some of the original incentive objects but had not yet been released fromrestrictions. For specific details please refer to the “Announcement on the Completion of Partial Restricted StockRepurchase and Cancellation”. The total share capital of the company was reduced from 9917289033 shares to 9914086060 shares. (3) Other reasons for changes Other changes in the company's limited selling condition shares are due to changes in executive lock up shares.Approval of share change √ Applicable □ Not applicable (1) The A-share restricted stock incentive plan has lifted the restrictions on the sale of shares and listed them for circulation The release of restricted shares from the A-share restricted stock incentive plan was approved by the 17th meeting of the 9th Board of Directors and the 5th meeting of the 9th Supervisory Board of the company on February 222024. (2) Partial A-share restricted stock repurchase and cancellation The repurchase and cancellation of some restricted A-shares were approved by the 26th meeting of the 9th Board of Directors and the 8th meeting of the 9th Supervisory Board of the company on August 30 2024 and by the third extraordinary general meeting of shareholders of the company on September 19 2024. 73Chongqing Changan Automobile Company Limited 2024 Annual Report Transfer of shares √ Applicable □ Not applicable See Chapter 7 I 1 “Reasons for share change” for details.Impact of share changes on financial indicators such as basic earnings per share and diluted earnings per share in the latest year and the latest period and net assets per share attributable to ordinary shareholders of the company √ Applicable □ Not applicable The change in shares has no significant impact on financial indicators such as basic earnings per share and diluted earnings per share for the most recent year and the most recent period as well as net assets per share attributable to common shareholders of the company.Other information deemed necessary by the company or required by securities regulators to disclose □ Applicable √ Not applicable 2. Changes in restricted shares √ Applicable □ Not applicable Unit: share(s) Number of Number of Number of Increase shares with restricted restricted during the sales restriction Reasons for Date of removal of sales Name of shareholders shares at the shares at the reporting removed during restrictions restriction beginning of end of the period the reporting the period period period 1. On March 5 2024 43135948 shares were listed and became tradable. 2. On December 31 2024 6961746 shares were listed and became tradable.A-shares restricted 3. On March 5 2025 41323353 104266260 -3202973 50097694 50965593 Equity incentive stocks shares were listed and became tradable. 4. The remaining restricted shares of the company that have not had their restrictions lifted are expected to have their restrictions removed before January 2026.Locked in shares of directors supervisors Lift the sales restriction according Other Shareholders 539639 1654398 375 2193662 and former executives to relevant rules excluding restricted stocks Total 104805899 -1548575 50098069 53159255 -- -- Note: The “increase in restricted shares for the current period” in A-share restricted stocks refers to the repurchase and cancellation of a total of 3202973 shares.II. Issuing and listing of securities 1. Securities issuance (excluding preference shares) during the reporting period □ Applicable √ Not applicable 2. Changes in the company’s total shares and shareholding structure and changes in the company's asset and liability structure √ Applicable □ Not applicable Please see Chapter 7 I 1 “Reasons for share change” for the changes in the total number of ordinary shares and shareholder structure of the Company during the reporting period.At the beginning of the reporting period the total assets were RMB 190171127138.27 the total liabilities were RMB 115487870299.24 and the asset-liability ratio was 60.73%. At the end of the period the total assets 74Chongqing Changan Automobile Company Limited 2024 Annual Report were RMB 208168160960.86 the total liabilities were RMB 129087561718.76 and the asset-liability ratio was 62.01%. 3. Existing employee shares □ Applicable √ Not applicable III. Shareholders and actual controllers 1. Number of shareholders and shareholding Unit: share(s) Number of Number of Number of shareholders ordinary shareholders holding holding preference shareholders at preference shares with At the end of the report period the shares with 632105 the month-end 650364 0 restored voting rights 0 total number of shareholders restored voting prior to the at the month-end prior rights at the end of disclosure date to the disclosure date the reporting of this Report of this Report period Shareholders holding more than 5% of the shares or top 10 shareholders (Excludes shares lent through refinancing) Increase/ Condition of Number of Number of Number of decrease shares (pledged Percentag shares held as of shares held shares held Name Nature during the labeled or frozen) e the end of the with sales without sales Reporting reporting period restrictions restrictions Status Amount Period China Changan Automobile Group State-owned legal 17.99%178309014301783090143 Co. Ltd. person China South Industries Group Co. State-owned legal 14.23%141074715501410747155 Ltd. person Southern Industry Asset Management State-owned legal 4.60%4562532570456253257 Co. Ltd. person Domestic general China Securities Finance Co. Ltd. 4.30% 426362905 0 426362905 legal entity United Prosperity Investment Co. Ltd. Overseas legal entity 2.83% 280498832 0 280498832 Hong Kong Securities Clearing Co.Overseas legal entity 1.20% 119271834 -116115120 119271834 Ltd.Industrial and Commercial Bank of Not Funds wealth China Limited - Huatai-PineBridge pledged management 0.86% 85668944 51382400 85668944 CSI 300 Exchange-Traded Open-End labeled or products etc Index Securities Investment Fund frozen China Construction Bank Corporation Funds wealth - E Fund CSI 300 Exchange-Traded management 0.60% 59124605 46436769 59124605 Open-End Index Initiated Securities products etc Investment Fund Industrial and Commercial Bank of Funds wealth China Limited - Huaxia CSI 300 management 0.40% 39305292 30125590 39305292 Exchange-Traded Open-End Index products etc Securities Investment Fund Bank of China Limited - Harvest CSI Funds wealth 300 Exchange-Traded Open-End management 0.38% 37240958 27132182 37240958 Index Securities Investment Fund products etc Among the top 10 shareholders the actual controller China South Industries Group Co. Ltd. and its wholly-owned subsidiary Southern Industry Asset Management Co. Ltd. the controlling shareholder Description of the related party relationship or acting in China Changan Automobile Group Co. Ltd. and its wholly-owned subsidiary United Prosperity concert among the above shareholdersInvestment Co. Ltd. are parties acting in concert by “Measures for the Administration of Takeover ofListed Companies”.Description of the above-mentioned shareholders entrusting/being entrusted with voting rights and waiver of None voting rights Shareholdings of the top 10 ordinary shareholders of unrestricted shares Number of shares without sales Shares type Shareholders restrictions at the end of the Type Number reporting period China Changan Automobile Group Co. Ltd. 1783090143 RMB ordinary shares 1783090143 China South Industries Group Co. Ltd. 1410747155 RMB ordinary shares 1410747155 Southern Industry Asset Management Co. Ltd. 456253257 RMB ordinary shares 456253257 China Securities Finance Co. Ltd. 426362905 RMB ordinary shares 426362905 United Prosperity Investment Co. Ltd. 280498832 Domestic listed foreign shares 280498832 75Chongqing Changan Automobile Company Limited 2024 Annual Report Hong Kong Securities Clearing Co. Ltd. 119271834 RMB ordinary shares 119271834 Industrial and Commercial Bank of China Limited - Huatai- RMB ordinary shares PineBridge CSI 300 Exchange-Traded Open-End Index 85668944 RMB ordinary shares Securities Investment Fund China Construction Bank Corporation - E Fund CSI 300 RMB ordinary shares Exchange-Traded Open-End Index Initiated Securities 59124605 RMB ordinary shares Investment Fund Industrial and Commercial Bank of China Limited - Huaxia RMB ordinary shares CSI 300 Exchange-Traded Open-End Index Securities 39305292 RMB ordinary shares Investment Fund Bank of China Limited - Harvest CSI 300 Exchange-Traded RMB ordinary shares 37240958 RMB ordinary shares Open-End Index Securities Investment Fund Among the top 10 shareholders the actual controller China South Industries Group Co. Ltd. and its Description of the related relationship or acting in concert wholly-owned subsidiary Southern Industry Asset Management Co. Ltd. the controlling shareholder among the top 10 shareholders of unrestricted circulating China Changan Automobile Group Co. Ltd. and its wholly-owned subsidiary United Prosperity shares and between the top 10 shareholders of unrestrictedInvestment Co. Ltd. are parties acting in concert as stipulated in the “Measures for the Administrationtradable shares and the top 10 shareholdersof Takeover of Listed Companies”.Description of the participation of the top 10 ordinary None.shareholders in margin trading business The top 10 shareholders participated in the refinancing business and lent shares √ Applicable □ Not applicable Unit: share(s) Participation of shareholders holding more than 5% of the shares top 10 shareholders and top 10 shareholders with unlimited tradable shares in the lending of shares through the refinancing business The shares lent at the At the end of the Initial ordinary account Ordinary account and beginning of the period period the shares and credit account credit account holdings were refinanced and were loaned and have holdings at the end of the period Shareholder have not been returned not been returned Name Proportion Proportion Proportion Proportion Total of total Total of total Total of total Total of total quantity share quantity share quantity share quantity share capital capital capital capital Industrial and Commercial Bank of China Limited - Huatai- PineBridge 342865440.35%27957000.03%856689440.86%00.00% CSI 300 Exchange- Traded Open- End Index Securities Investment Fund China Construction Bank Corporation - E Fund CSI 300 Exchange- 12687836 0.13% 1251500 0.01% 59124605 0.60% 0 0.00% Traded Open- End Index Initiated Securities Investment Fund Industrial and Commercial Bank of China Limited - Huaxia CSI 91797020.09%15634000.02%393052920.40%00.00% 300 Exchange- Traded Open- End Index Securities Investment 76Chongqing Changan Automobile Company Limited 2024 Annual Report Fund Bank of China Limited - Harvest CSI 300 Exchange- 10108776 0.10% 1657800 0.02% 37240958 0.38% 0 0.00% Traded Open- End Index Securities Investment Fund The top 10 shareholders changed from the previous period □ Applicable √ Not applicable Did the top 10 ordinary shareholders and the top 10 unrestricted ordinary shareholders of the company engage in agreed repurchase transactions during the reporting period □ Yes √ No The top 10 ordinary shareholders and the top 10 unrestricted ordinary shareholders of the company did not engage in any agreed repurchase transactions during the reporting period. 2. Information on the controlling shareholder of the company Nature of the controlling shareholder: the central state-owned Type of the controlling shareholder: legal person Date of Name Legal /Representative Organization code Business scope and major products: establishment Design development manufacturing and sales of car motorcycle and engine and parts; sales of optical products electronic and optoelectronic products night vision device information and communication equipment; technical China Changan Automobile December Zhao Fei 911100007109339484 development transfer consultation technical training and Group Co. Ltd. 26th 2005 other technical service related to the operation mentioned above; imports and exports; merge and acquisition and asset restructuring consultation; telecommunications services and agency bookkeeping.Equity of other domestic and overseas listed As of the end of the reporting period controlling shares of listed companies: Harbin Dongan Auto Engine Co. Ltd.companies where he has (stock code 600178); Hunan Tianyan Machinery Co. Ltd. (stock code 600698) Chongqing Changan Minsheng APLL controlled and participated Logistics Co. Ltd (stock code 01292.HK) during the reporting period The change of controlling shareholder during the reporting period □ Applicable √ Not applicable During the reporting period there was no change in the controlling shareholder of the company. 3. The actual controller and its parties acting in concert Nature of the actual controller: the central state-owned asset management institution Type of the actual controller: legal person Date of Name Legal Representative Organization code Businesses establishment Investment and management of state-owned assets operation and management R&D manufacturing guarantee and services of vehicles electrical equipment optoelectronic information products and equipment China South Industries Xu Xianping Jun 29th1999 91110000710924929L mechanical equipment engineering and construction Group Corp.machinery chemical materials (except hazardous chemicals) fire-fighting equipment medical and environmental protection equipment metal and non-metal materials and products.As of the end of the reporting period the listed companies directly or indirectly controlled by the actual controller are as Other domestic and follows:Harbin Dongan Auto Engine Co. Ltd. (Stock code: 600178); Baoding Tianwei Baobian Electric Co. Ltd. (Stock overseas listed companies code: 600550); Jiangling Motors Co. Ltd. (Stock code: 000550); Hunan Tianyan Machinery Co. Ltd. (Stock code: controlled by the actual 600698); Zhongguangxun Group Co. Ltd. (Stock code: 002189); Jianshe Industry Group (Yunnan) Co. Ltd. (Stock code: controller during the report 002265); Chongqing Changan Minsheng Logistics Co. Ltd. (Stock code: 01292); Hubei Huaqiang Technology Co. Ltd. period (Stock code: 688151); Anhui Great Wall Military Industry Co. Ltd. (Stock code: 601606) The change of the actual controller during the reporting period □ Applicable √ Not applicable 77Chongqing Changan Automobile Company Limited 2024 Annual Report No changes in the actual controller during the reporting period.The equity and control relationship between the company and the actual controller: Actual controlling through trust or other asset management.□ Applicable √ Not applicable 4. Pledged shares held by controlling shareholder or the largest shareholder and its parties acting in concert account for 80% of the shares.□ Applicable √ Not applicable 5. Other corporate shareholders holding over 10% shares. □ Applicable √ Not applicable 6. Shareholding restriction and reduction of controlling shareholder actual controller restructuring party and other commitment entities □ Applicable √ Not applicable IV. Share repurchase during the reporting period Progress in the Implementation of Share Repurchase □ Applicable √ Not applicable During the reporting period the company had no other share repurchases except for some A-share restricted stock repurchases and cancellations (see Chapter 7 Ⅰ 1. “Changes in shareholdings”).Progress of implementing centralized bidding to reduce holdings and repurchase shares □ Applicable √ Not applicable 78Chongqing Changan Automobile Company Limited 2024 Annual Report Chapter 8 Preference Shares □ Applicable √ Not applicable There was no preferred share in the Company during the reporting period. 79Chongqing Changan Automobile Company Limited 2024 Annual Report Chapter 9 Bonds √Applicable □ Not applicable I. Enterprise Bonds □Applicable √ Not applicable During the reporting period the company did not have any corporate bonds.II. Corporate Bonds √Applicable □ Not applicable 1. Basic Information of the Corporate Bonds Unit: 10000 RMB Bond Date of Value Bonds Interest Trading Bond Name Abbreviation Maturity Way of redemption Code issue date balance rate place Single interest is Chongqing Changan calculated on an Automobile Co.annual basis Ltd. publicly issued excluding compound science and December interest. The interest is Shenzhen technology 22 Changan 148147 December December 20th 100000 3.00% paid once a year and Stock innovation corporate K1 .SZ 19th 2022 20th 2027 2022 the principal is repaid Exchange bonds to once due. The last professional interest is paid with investors in 2022 the payment of the ( Phase I ) principal.This bond is issued to professional institutional investors who open A-share securities accounts in Appropriate arrangement of the investors (if any) Shenzhen Branch of China Securities Depository and Clearing Co. Ltd. (excluding purchasers prohibited by laws and regulations).Applicable trading mechanism Centralized bidding trade and block trading Risk of termination of listing transactions (if any) None and countermeasures Overdue bonds □ Applicable √ Not applicable 2. The Trigger and Execution of the Option Clause of the Issuers or Investors and the Investor Protection Clause □Applicable √ Not applicable 3. Intermediary Signature Contact person of Bond Intermediary Office address Contact number accountant intermediary Chongqing Lead underwriter 22nd Floor CITIC Securities Hu Yan Changan and bond trustee: Building No. 48 Jiang Haotian Qiao Chun 010-60837490 Automobile CITIC Securities Liangmaqiao Road Jiang jiarong Yuan Yong Co. Ltd. Co. Ltd. Chaoyang District Beijing 80Chongqing Changan Automobile Company Limited 2024 Annual Report publicly issued Joint lead 27th and 28th Floors Block science and underwriter: China 2 Guomao Building No. 1 Qi Qin Yan 010-65051166 technology International Capital Jianguomenwai Street Runan Li Cong innovation Corporation Limited Chaoyang District Beijing corporate Floor 8-10 Building A Law Firm: Beijing bonds to Rongchao Business Center ZhongLun Law Xu Zhigang 0755-33256902 professional 6003 Yitian Road Futian Firm investors in District Shenzhen 2022 (Phase I ) Accounting firm: 17th Floor Ernst & Young Ernst & Young Hua Tower Oriental Plaza No. 1 Qiao Chun Yuan Ming LLP (Special East Chang An Avenue Dong 023-62736177 Yong General Cheng District Beijing Partnership) China 17th Floor PICC Rating agency: Property&Casualty Insurance Sun Changzheng United Credit Building No. 2 010-85679696 Li Jingyun Rating Co. Ltd. Jianguomenwai Street Chaoyang District Beijing Indicate by tick mark whether above intermediary changed in the Reporting Period □ Yes √ No 4. List of the Usage of the Raised Funds Unit: 10000 RMB Is it Actual use of consistent raised funds Operation with the Actual Total (classified by status of the Rectification purpose Bond use of amount Agreed purpose Used purpose Unused special of illegal use usage plan Bond code abbreviat funds for of raised of raised funds amount excluding amount account for of raised and other ion each funds temporary fundraising funds (if any) agreements category replenishment (if any) promised in ) the prospectus The relevant Exchange the Exchange the fundraising relevant funds relevant funds special previously previously 22 accounts are There is no invested in invested in 148147.SZ Changan 100000 100000 100000 0.00 being used illegal use of correct Avatr Avatr K1 normally in raised funds Technology Technology accordance (Chongqing) (Chongqing) with Co. Ltd Co. Ltd regulations The raised funds were used for project construction □ Applicable √ Not applicable The Company changed the usage of above funds raised from bonds during the Reporting Period.□ Applicable √ Not applicable 5. Adjustment of Credit Rating Results during the Reporting Period □ Applicable √ Not applicable 6. Execution and Changes of Guarantee Repayment Plan and Other Repayment Guarantee Measures as well as Influence on Equity of Bond Investors during the Reporting Period □ Applicable √ Not applicable 81Chongqing Changan Automobile Company Limited 2024 Annual Report III. Debt Financing Instruments of Non-financial Enterprises □ Applicable √ Not applicable No such cases in the Reporting Period.IV. Convertible Corporate Bonds □ Applicable √ Not applicable No such cases in the Reporting Period.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. Matured Interest-bearing Debt excluding Bonds up the Period-end □ Applicable √ Not applicable VII. Whether there was any Violation of Rules and Regulations during the Reporting Period □ Yes √ No VIII. The Major Accounting Data and the Financial Indicators of the Recent 2 Years of the Company up the Period-end Unit: 10000 RMB Items 31 December 2024 31 December 2023 Increase/decrease Current ratio 1.20 1.27 -5.51% Debt/asset ratio 62.01% 60.73% 1.28% Quick ratio 1.05 1.14 -7.89% 31 December 2024 31 December 2023 Increase/decrease Net profit after deducting 258727.17378184.67-31.59% non-recurring profit or loss Debt/EBITDA ratio 9.75% 13.76% -4.01% Interest cover (times) 49.25 147.61 -66.64% Cash-to-interest cover (times) 41.01 302.50 -86.44% EBITDA-to-interest cover 106.45241.90-55.99% (times) Loan repayment rate 100% 100% 0.00% Interest coverage 100% 100% 0.00% 82Chapter 10 Auditor’s Report Xin Kuai Shi Bao Zi [2025]No. ZG10913 All shareholders of Chongqing Changan Automobile Co. LTD： I. Audit Opinion We have audited the financial statements of Chongqing Changan Automobile Co. LTD. (hereinafter referred to as “Changan Automobile”) which include the consolidated and parent company's balance sheets as of December 31 2024 the consolidated and parent company's income statements consolidated and parent company's cash flow statements consolidated and parent company's statements of changes in owners' equity for the year ended December 31 2024 and the related notes to the financial statements.In our opinion the accompanying financial statements have been prepared in all material respects in accordance with the Accounting Standards for Enterprises and fairly present the consolidated and parent company's financial position as of December 31 2024 and the consolidated and parent company's results of operations and cash flows for the year ended December 31 2024 of Changan Automobile.II. Basis for the Audit Opinion We conducted our audit in accordance with the Chinese Certified Public Accountants Auditing Standards. The section of the audit report titled "Responsibilities of the Certified Public Accountants for the Audit of the Financial Statements" further explains our responsibilities under these standards. In accordance with the Code of Professional Ethics for Chinese Certified Public Accountants we are independent of Changan Automobile and have fulfilled our other ethical responsibilities. We believe that the 83audit evidence we have obtained is sufficient and appropriate providing a basis for our audit opinion.III. Key Audit Matters Key audit matters are those matters that in our professional judgment were of most significance in our audit of the financial statements for the current period. The responses to these matters were conducted in the context of our audit of the financial statements as a whole and forming our audit opinion. We do not express a separate opinion on these matters.The key audit matters identified in our audit are summarized as follows: Key Audit Matters How This Matter Was Addressed in the Audit (I) Recognition of Operating Revenue The operating revenue of Changan Audit Response： Automobile mainly comes from 1. Understand evaluate and test automobiles automotive parts and the design and effectiveness of related products and other the internal controls related to outputs. In 2024 the amount of operating revenue.operating revenue of Changan 2. Select samples of major sales Automobile was RMB contracts read and analyze the 159733034213.25 yuan contract terms related to the representing a growth rate of transfer of control rights and 5.58% compared with the previous revenue recognition and evaluate year. Since revenue is one of the whether the revenue recognition key performance indicators of complies with the requirements of Changan Automobile there is an the company's accounting inherent risk that the management policies.may manipulate the timing of 3. Select samples to perform revenue recognition to achieve detailed tests of revenue specific targets or expectations. recognition and inspect Therefore we have identified supporting documents such as 84Key Audit Matters How This Matter Was Addressed in the Audit revenue recognition as a key audit delivery slips logistics waybills matter. and sales invoices. 4. In combination with the procedures of accounts receivable and revenue confirmation by correspondence perform detailed tests of revenue recognition and inspect supporting documents such as delivery slips logistics waybills and sales invoices. 5. For the revenues recognized around the balance sheet date select samples to inspect supporting documents such as delivery slips and logistics waybills and evaluate whether the relevant revenues are recorded in the appropriate accounting period. 6. Check whether there are significant revenue reversals or large-scale returns after the reporting period.（II）Product Quality Assurance Deposit According to the after-sales Audit Response： service agreement or relevant 1、Understand the process and national laws and regulations internal controls related to the Changan Automobile is obligated product quality guarantee to provide after-sales repairs or provision test the effectiveness of replacements for sold vehicles key controls and validate the within a specified period. reliability of automated system Additionally to address quality controls. 85Key Audit Matters How This Matter Was Addressed in the Audit and safety issues in sold vehicles 2、Evaluate the reasonableness Changan Automobile may of the current methodology for periodically initiate voluntary estimating the product quality recalls. Changan Automobile must guarantee provision assess and estimate the expenses incurred in test the key assumptions used in fulfilling these quality assurance the estimation. Perform sample obligations and the costs testing on actual warranty claims associated with voluntary recalls incurred during the year and and accordingly recognize product inspect/recalculate the provision quality guarantee expenses and the balance.corresponding provision. 3、Review the adequacy of the The provision for product quality related disclosures in the financial guarantees is primarily based on statement notes.historical claim experience taking into account changes in related parts and labor costs to estimate future claims required for vehicles currently under the three- guarantee service period. For additional voluntary recalls a recall plan is formulated and the total expected costs are estimated based on the relevant parts labor costs and the number of affected vehicles. This estimation process involves multiple assumptions and judgments and changes in these factors may have a material impact on the financial statements.IV. Other Information 86The management of Changan Automobile (hereinafter referred to as the management) is responsible for other information. Other information includes the information covered in Changan Automobile 's 2024 annual report but excludes the financial statements and our audit report.Our audit opinion on the financial statements does not cover other information and we do not issue any form of assurance conclusion on other information.In conjunction with our audit of the financial statements our responsibility is to read the other information. During this process we consider whether there are any material inconsistencies between the other information and the financial statements or the circumstances we have learned during the audit process or whether there appear to be material misstatements in the other information.Based on the work we have performed if we determine that there are material misstatements in the other information we should report such facts. In this regard we have no matters to report.V. Responsibility of Management and Governance for the Financial Statements Management is responsible for preparing the financial statements in accordance with the Accounting Standards for Enterprises presenting them fairly and designing implementing and maintaining the necessary internal controls to ensure that the financial statements are free from material misstatements arising from fraud or error.When preparing the financial statements management is responsible for assessing the going concern ability of Changan Automobile disclosing matters related to going concern (if applicable) and applying the going concern assumption unless there are plans for liquidation termination of operations or there are no other realistic alternatives.Those charged with governance are responsible for overseeing the financial reporting process of Changan Automobile. 87VI. Responsibilities of the Certified Public Accountants for the Audit of the Financial Statements Our objective is to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement whether due to fraud or error and to issue an audit report that includes our audit opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with auditing standards will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if individually or in aggregate they could reasonably be expected to influence the economic decisions of users taken on the basis of the financial statements.In conducting the audit in accordance with auditing standards we exercise professional judgment and maintain professional skepticism.Furthermore we: (1)Identify and assess the risks of material misstatement of the financial statements due to fraud or error design and perform audit procedures responsive to those risks and obtain sufficient appropriate audit evidence to provide a basis for our audit opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error as fraud may involve collusion forgery intentional omissions misrepresentations or the override of internal controls. (2)Obtain an understanding of internal control relevant to the audit in order to design appropriate audit procedures. (3)Evaluate the appropriateness of accounting policies used by management and the reasonableness of accounting estimates and related disclosures made by management. (4)Conclude on the appropriateness of management’s use of the going concern basis of accounting. Based on the audit evidence obtained we conclude whether a material uncertainty exists related to events or conditions that may cast significant doubt on Changan Automobile’s ability to continue as a going concern. If we conclude that a material uncertainty exists auditing standards require us to draw users’ attention to 88the related disclosures in the financial statements or if such disclosures are inadequate to modify our opinion. Our conclusions are based on the information available up to the date of the audit report. However future events or conditions may cause Changan Automobile to no longer be able to continue as a going concern. (5) Evaluate the overall presentation (including disclosures) structure and content of the financial statements and assess whether they fairly represent the underlying transactions and events. (6) Obtain sufficient appropriate audit evidence regarding the financial information of the entities or business activities within Changan Automobile to express an audit opinion on the consolidated financial statements. We are responsible for directing supervising and performing the group audit and remain solely responsible for our audit opinion.We communicate with those charged with governance regarding among other matters the planned scope and timing of the audit and significant audit findings including any significant deficiencies in internal control that we identify during our audit.We also provide those charged with governance with a statement that we have complied with relevant ethical requirements regarding independence and communicate with them all relationships and other matters that may reasonably be thought to bear on our independence and where applicable related safeguards.From the matters communicated with those charged with governance we determine those matters that were of most significance in the audit of the financial statements of the current period and are therefore the key audit matters. We describe these matters in our audit report unless law or regulation precludes public disclosure or in extremely rare circumstances we determine that a matter should not be communicated in the audit report because the adverse consequences of doing so would reasonably be expected to outweigh the public interest benefits. 89BDO China Shu Lun Pan CPA of China: Certified Public Accountants LLP (Engagement Partner) CPA of China： China*Shanghai April 9th 2025 90Chongqing Changan Automobile Company Limited. Consolidated Balance Sheet December 31 2024 (Unless otherwise specified the monetary unit is RMB yuan) Balance at the end of Asset Notes V Closing balance the previous year Current Assets： Cash and Cash Equivalents (I) 64182095662.74 64871042747.88 Provision for Settlement Funds Lent Trading Financial Assets (II) 155013154.45 167519347.29 Derivative Financial Assets Notes Receivable (III) 45580904582.72 37658391214.01 Accounts Receivable (IV) 3398477724.75 2411796419.07 Financial Assets Secured by Receivables Advances to Suppliers (V) 507313682.07 287711010.62 Premiums Receivable Reinsurance Receivables Provision for Reinsurance Contracts Receivable Other Receivables (VI) 2386898598.92 894268431.82 Reverse Repurchase of Financial Assets Inventories (VII) 17081370658.58 13465847696.93 Among which: Data Resources Contract Assets (VIII) 592426824.74 1442876966.30 Assets Held for Sale Non-current Assets Due within One Year (IX) 309148116.22 Other Current Assets (X) 2174955833.01 9735453361.32 Total Current Assets 136368604838.20 130934907195.24 Non-current Assets: Loans and Advances Debt Investments Other Debt Investments Long-term Receivables (XI) 1528927601.39 Long-term Equity Investments (XII) 18525675882.50 13787391985.47 Other Equity Instrument Investments (XIII) 496524273.53 504190082.71 Other Non-current Financial Assets Investment Real Estate (XIV) 5969291.92 6196003.48 Fixed Assets (XV) 21773526063.55 19994084908.14 Construction in Progress (XVI) 1596384269.60 1914345359.83 Productive Biological Assets Oil and Gas Assets Right-of-use Assets (XVII) 273297841.75 209480676.04 Intangible Assets (XVIII) 16771849926.23 15045563649.79 Among which: Data Resources Development Expenditure VI 1729932488.67 2241820556.70 Among which: Data Resources Goodwill (XIX) 1810730443.16 1810730443.16 Long-term Prepaid Expenses (XX) 16732447.77 24162220.06 Deferred Income Tax Assets (XXI) 3564260247.57 3248254057.65 Other Non-current Assets (XXII) 3705745345.02 450000000.00 Total Non-current Assets 71799556122.66 59236219943.03 Total Assets 208168160960.86 190171127138.27 The accompanying notes to the financial statements are an integral part of the financial statements.Person in charge of the company： Person in charge of the accounting work： Head of the accounting department： 91Chongqing Changan Automobile Company Limited. Consolidated Balance Sheet (Continued) December 31 2024 (Unless otherwise specified the monetary unit is RMB yuan) Balance at the end of the Liabilities and Owners' Equity Notes V Closing balance previous year Current Liabilities： Short-term Borrowings (XXIV) 40036055.69 30039416.74 Borrowings from the Central Bank Funds Borrowed Trading Financial Liabilities Derivative Financial Liabilities Notes Payable (XXV) 34810605512.61 37456669928.07 Accounts Payable (XXVI) 43835671129.12 38289947321.45 Advances from Customers (XXVII) 477390.93 686755.00 Contract Liabilities (XXVIII) 10887896995.49 7923792852.77 Proceeds from Sale and Repurchase of Financial Assets Deposits from Customers and Deposits from Financial Institutions Funds for Agency Securities Trading Funds for Agency Securities Underwriting Employee Benefits Payable (XXIX) 3209780953.87 2750661337.26 Taxes and Levies Payable (XXX) 1528582531.63 1928723907.38 Other Payables (XXXI) 6407775538.76 5880882512.97 Handling Fees and Commissions Payable Reinsurance Payables Liabilities Held for Sale Non-current Liabilities Due within One Year (XXXII) 128914461.78 80077042.88 Other Current Liabilities (XXXIII) 12507633539.96 8897936399.92 Total Current Liabilities 113357374109.84 103239417474.44 Non-current Liabilities： Provision for Insurance Contracts Long-term Borrowings (XXXIV) 36000000.00 72000000.00 Bonds Payable (XXXV) 999705660.36 999607547.16 Among which：Preferred Shares Perpetual Bonds Lease Liabilities (XXXVI) 269211409.06 134254398.07 Long-term Payables (XXXVII) 2456527871.71 952446118.57 Long-term Employee Benefits Payable (XXXVIII) 26693372.65 30414000.00 Provision (XXXIX) 7704647749.44 6277041416.79 Deferred Income (XL) 184197219.64 718840543.52 Deferred Income Tax Liabilities (XXI) 1834714931.18 1566074982.00 Other Non-current Liabilities (XLI) 2218489394.88 1497773818.69 Total Non-current Liabilities 15730187608.92 12248452824.80 Total Liabilities 129087561718.76 115487870299.24 Owners' Equity： Share Capital (XLII) 9914086060.00 9917289033.00 Other Equity Instruments Among which：Preferred Shares Perpetual Bonds Capital Reserve (XLIII) 8925798850.14 8251287637.70 Less: Treasury Shares (XLIV) 169261662.73 382277095.96 Other Comprehensive Income (XLV) 7523358.77 118318784.04 Special Reserves (XLVI) 95013488.38 54323330.34 Surplus Reserve (XLVII) 4957043030.00 4276245864.64 General Risk Provision Undistributed Profits (XLVIII) 52846021500.43 49617932431.73 Total Owners' Equity Attributable to the Parent Company 76576224624.99 71853119985.49 Minority Interests 2504374617.11 2830136853.54 Total Owners' Equity 79080599242.10 74683256839.03 Total Liabilities and Owners' Equity 208168160960.86 190171127138.27 The accompanying notes to the financial statements are an integral part of the financial statements.Person in charge of the company： Person in charge of the accounting work： Head of the accounting department： 92Chongqing Changan Automobile Company Limited. Parent Company's Balance Sheet December 31 2024 (Unless otherwise specified the monetary unit is RMB yuan) Notes Balance at the End Assets Closing Balance XVIII of the Previous Year Current Assets： Cash and Cash Equivalents 34684680303.59 44029520088.62 Trading Financial Assets 155013154.45 160744733.27 Derivative Financial Assets Notes Receivable 34679567316.79 33788748503.90 Accounts Receivable (I) 13835150844.52 8579504025.23 Financial Assets Secured by Receivables Advances to Suppliers 291292231.28 112547088.73 Other Receivables (II) 1487531844.07 237247787.26 Inventories 5903242163.27 5615873258.35 Among which: Data Resources Contract Assets 18337637.01 128498871.61 Assets Held for Sale Non-current Assets Due within One Year 254821266.90 Other Current Assets 39949461.19 5522797370.57 Total Current Assets 91349586223.07 98175481727.54 Non-current Assets： Debt Investments Other Debt Investments Long-term Receivables 1528927601.39 Long-term Equity Investments (III) 25382337768.46 19435450021.37 Other Equity Instrument Investments 496524273.53 504190082.71 Other Non-current Financial Assets Investment Real Estate Fixed Assets 16112971408.48 13453515476.81 Construction in Progress 599924628.01 1407521918.44 Productive Biological Assets Oil and Gas Assets Right-of-use Assets 159654100.14 168093468.85 Intangible Assets 6240969022.09 3312017680.07 Among which: Data Resources Development Expenditure 915541696.35 2017011508.06 Among which: Data Resources Goodwill Long-term Prepaid Expenses 15077519.40 21709036.17 Deferred Income Tax Assets 2906828175.57 2774652958.37 Other Non-current Assets 3700000000.00 450000000.00 Total Non-current Assets 58058756193.42 43544162150.85 Total Assets 149408342416.49 141719643878.39 The accompanying notes to the financial statements are an integral part of the financial statements.Person in charge of the company： Person in charge of the accounting work： Head of the accounting department： 93Chongqing Changan Automobile Company Limited. Parent Company's Balance Sheet (Continued) December 31 2024 (Unless otherwise specified the monetary unit is RMB yuan) Notes Balance at the End Liabilities and Owners' Equity Closing Balance XVIII of the Previous Year Current Liabilities: Short - term Borrowings Financial Liabilities Held for Trading Derivative Financial Liabilities Notes Payable 24761621056.89 25950782831.24 Accounts Payable 23248117139.04 23842258668.42 Advances from Customers Contract Liabilities 5284514173.87 4606921633.17 Employee Benefits Payable 2129521947.83 1919102689.66 Taxes Payable 493489648.34 1300178990.13 Other Payables 4633406485.36 3236371408.79 Liabilities Held for Sale Current Portion of Non - current Liabilities 72638886.85 56170742.39 Other Current Liabilities 8053792954.91 6286218965.50 Total Current Liabilities 68677102293.09 67198005929.30 Non - current Liabilities： Long - term Borrowings 36000000.00 72000000.00 Bonds Payable 999705660.36 999607547.16 Among which: Preferred Stocks Perpetual Bonds Lease Liabilities 195441528.85 117490288.82 Long - term Payables 1590666539.68 120081551.85 Long - term Employee Benefits Payable 18086000.00 17659000.00 Provision for Liabilities 4766761846.88 4402025046.54 Deferred Income 100000000.00 603864707.08 Deferred Tax Liabilities 619798441.29 197625245.62 Other Non - current Liabilities 1983668025.04 1287646146.69 Total Non - current Liabilities 10310128042.10 7817999533.76 Total Liabilities 78987230335.19 75016005463.06 Owners' Equity： Share Capital 9914086060.00 9917289033.00 Other Equity Instruments Among which: Preferred Stocks Perpetual Bonds Capital Reserve 8353032903.95 8406226198.82 Less: Treasury Shares 169261662.73 382277095.96 Other Comprehensive Income 162659055.80 169049829.02 Special Reserve 44805848.15 19514786.95 Surplus Reserve 4957043030.00 4276245864.64 Undistributed Profits 47158746846.13 44297589798.86 Total Owners' Equity 70421112081.30 66703638415.33 Total Liabilities and Owners' Equity 149408342416.49 141719643878.39 The accompanying notes to the financial statements are an integral part of the financial statements.Person in charge of the company： Person in charge of the accounting work： Head of the accounting department： 94Chongqing Changan Automobile Company Limited. Consolidated Income Statement For the Year 2024 (Unless otherwise specified the monetary unit is RMB yuan) Amount for the Amount for the Items Notes V Current Period Previous Period I、Total operating revenue 159733034213.25 151297706646.97 Among which: Operating revenue (XLIX) 159733034213.25 151297706646.97 Interest income Earned premiums Handling fees and commission income II、Total operating costs 157730142295.46 145106326671.40 Among which: Operating costs (XLIX) 135869023071.45 125190310396.69 Interest expense Handling fees and commission expense Surrender value Net claim payments Net change in insurance liability reserves Policy dividends paid Reinsurance expenses Taxes and surcharges (L) 4350471426.40 4758426281.70 Selling expenses (LI) 7538352413.16 5977551549.91 General and administrative expenses (LII) 4401226018.26 4097537529.67 R & D expenses (LIII) 6505446679.24 5979844653.23 Financial expenses (LIV) -934377313.05 -897343739.80 Among which: Interest expense (LIV) 118238961.52 65658308.92 Interest income (LIV) 1160421476.17 1172272116.20 Plus: Other income (LV) 2125703705.22 1644319505.04 Investment income (loss is indicated by a “-” sign) (LVI) 187658837.46 3050413045.10 Among which: Investment income from associates and joint ventures (LVI) 36975796.30 -2201515632.81 Income from derecognition of financial assets measured at amortized cost Exchange gain (loss is indicated by a “-” sign) Net gain on hedging of net open positions (loss is indicated by a “-” sign) Fair - value change gain (loss is indicated by a “-” sign) (LVII) -27460945.49 -19061189.53 Credit impairment loss (loss is indicated by a “-” sign) (LVIII) -613004.02 -46742115.91 Asset impairment loss (loss is indicated by a “-” sign) (LIX) -214488935.20 -813828346.53 Gain on disposal of assets (loss is indicated by a “-” sign) (LX) 2550458320.83 440995737.23 III、Operating profit (loss is indicated by a “-” sign) 6624149896.59 10447476610.97 Plus: Non - operating income (LXI) 155290275.84 169793538.35 Less: Non - operating expenses (LXII) 21912265.18 28073391.83 IV、Total profit (total loss is indicated by a “-” sign) 6757527907.25 10589196757.49 Less: Income tax expense (LXIII) 653353379.40 1087297716.52 V、Net profit (net loss is indicated by a “-” sign) 6104174527.85 9501899040.97 (I)Classified by business continuity 6104174527.85 9501899040.97 1．Net profit from continuing operations (net loss is indicated by a “-” sign) 6104174527.85 9501899040.97 2．Net profit from discontinued operations (net loss is indicated by a “-” sign) (II)Classified by ownership 6104174527.85 9501899040.97 1．Net profit attributable to shareholders of the parent company 7321363897.2411327463013.15 (net loss is indicated by a “-” sign) 2．Minority interest income (net loss is indicated by a “-” sign) -1217189369.39 -1825563972.18 VI、Net Amount of Other Comprehensive Income after Tax -109658591.17 19477168.62 Net Amount of Other Comprehensive Income after Tax Attributable to Owners of the -110795425.2719477168.62 Parent Company (I)Other Comprehensive Income That Cannot Be Reclassified into Profit or Loss -7502784.88 11190018.39 1．Amount of Changes in the Remeasurement of Defined Benefit Plans -2180000.00 540000.00 2．Other Comprehensive Income That Cannot Be Transferred to Profit or Loss 1193152.92-1454051.91 under the Equity Method 3．Changes in the Fair Value of Other Equity Instrument Investments -6515937.80 12104070.30 4．Changes in the Fair Value of the Enterprise's Own Credit Risk (II)Other Comprehensive Income That Will Be Reclassified into Profit or Loss -103292640.39 8287150.23 1．Other Comprehensive Income That Can Be Transferred to Profit or Loss under -5806125.95 the Equity Method 2．Changes in the Fair Value of Other Debt Investments 3．Amounts Recognized in Other Comprehensive Income upon the Reclassification of Financial Assets 4．Credit Impairment Provisions for Other Debt Investments 5．Cash Flow Hedge Reserves 6．Exchange Differences on the Translation of Foreign Currency Financial -97486514.448287150.23 Statements 7．Others Net Amount of Other Comprehensive Income after Tax Attributable to Minority 1136834.10 Shareholders VII、Total Comprehensive Income 5994515936.68 9521376209.59 Total Comprehensive Income Attributable to Owners of the Parent Company 7210568471.97 11346940181.77 Total Comprehensive Income Attributable to Minority Shareholders -1216052535.29 -1825563972.18 VIII、Earnings per Share： (I)Basic Earnings per Share (Yuan per Share) (LXIV) 0.74 1.15 (II)Diluted Earnings per Share (Yuan per Share) (LXIV) 0.74 1.13 The accompanying notes to the financial statements are an integral part of the financial statements.Person in charge of the company： Person in charge of the accounting work： Head of the accounting department： 95Chongqing Changan Automobile Company Limited. Parent Company's Income Statement For the Year 2024 (Unless otherwise specified the monetary unit is RMB yuan) Notes Amount for the Amount for the Items XVIII Current Period Previous Period I. Operating Revenue (IV) 111908716676.01 118698033782.77 Less: Operating Costs (IV) 98055163152.00 99639629621.95 Taxes and Surcharges 2211783851.82 2918130753.90 Selling Expenses 2553003753.28 2409262258.22 Administrative Expenses 2945013642.26 2766449647.21 Research and Development Expenses 4203285856.16 3822529677.53 Financial Expenses -725860845.47 -809080245.53 Among which: Interest Expenses 73133299.94 40655362.11 Interest Income 814288583.72 865820973.86 Plus: Other Income 1730788908.09 1564577278.73 Investment Income (Loss is indicated by “-”) (V) 851239258.25 -1224231437.03 Among which: Investment Income from Associates and Joint Ventures (V) 133847483.26 -2157754465.24 Income from Derecognition of Financial Assets Measured at Amortized Cost Net Gain on Net Open Position Hedging (Loss is indicated by “-”) Fair Value Change Gain (Loss is indicated by “-”) -5731578.82 41019998.59 Credit Impairment Loss (Loss is indicated by “-”) 1493992.56 10927568.37 Asset Impairment Loss (Loss is indicated by “-”) -114861215.24 -477092984.70 Gain on Disposal of Assets (Loss is indicated by “-”) 2157913805.49 397686430.93 II. Operating Profit (Loss is indicated by “-”) 7287170436.29 8263998924.38 Plus: Non-operating Income 91375675.04 111413858.23 Less: Non-operating Expenses 12197091.83 22524889.94 III. Total Profit (Total Loss is indicated by “-”) 7366349019.50 8352887892.67 Less: Income Tax Expense 411917143.69 872079268.95 IV. Net Profit (Net Loss is indicated by “-”) 6954431875.81 7480808623.72 (I) Net Profit from Continuing Operations 6954431875.817480808623.72 (Net Loss is indicated by “-”) (II) Net Profit from Discontinued Operations (Net Loss is indicated by “-”) V. Net Amount of Other Comprehensive Income after Tax -6390773.22 11633018.39 (I) Other Comprehensive Income That Cannot Be Reclassified into Profit or Loss -6551784.88 11633018.39 1．Amount of Changes in the Remeasurement of Defined Benefit Plans -1229000.00 983000.00 2．Other Comprehensive Income That Cannot Be Transferred to Profit or Loss 1193152.92-1454051.91 under the Equity Method 3．Changes in the Fair Value of Other Equity Instrument Investments -6515937.80 12104070.30 4．Changes in the Fair Value of the Enterprise's Own Credit Risk (II) Other Comprehensive Income That Will Be Reclassified into Profit or Loss 161011.66 1．Other Comprehensive Income That Can Be Transferred to Profit or Loss 161011.66 under the Equity Method 2．Changes in the Fair Value of Other Debt Investments 3．Amounts Recognized in Other Comprehensive Income upon the Reclassification of Financial Assets 4．Credit Impairment Provisions for Other Debt Investments 5．Cash Flow Hedge Reserves 6．Exchange Differences on the Translation of Foreign Currency Financial Statements 7．Others VI. Total Comprehensive Income 6948041102.59 7492441642.11 VII. Earnings per Share： (I) Basic Earnings per Share (Yuan per Share) (II) Diluted Earnings per Share (Yuan per Share) The accompanying notes to the financial statements are an integral part of the financial statements.Person in charge of the company： Person in charge of the accounting work： Head of the accounting department： 96Chongqing Changan Automobile Company Limited. Consolidated Statement of Cash Flows For the Year 2024 (Unless otherwise specified the monetary unit is RMB yuan) Amount for the Amount for the Items Notes V Current Period Previous Period I. Cash Flows from Operating Activities Cash Received from the Sale of Goods and the Rendering of Services 175823903478.47 168499172064.84 Net Increase in Customer Deposits and Deposits from Financial Institutions Net Increase in Borrowings from the Central Bank Net Increase in Funds Borrowed from Other Financial Institutions Cash Received from Premiums of Original Insurance Contracts Net Cash Received from Reinsurance Business Net Increase in Policyholders' Deposits and Investment Funds Cash Received from Interest Handling Fees and Commissions Net Increase in Funds Borrowed Net Increase in Funds from Repurchase Business Net Cash Received from Agency Securities Trading Tax Refunds Received 4676232646.34 2225768807.06 Other Cash Received Related to Operating Activities (LXV) 3542989681.66 3358313435.61 Subtotal of Cash Inflows from Operating Activities 184043125806.47 174083254307.51 Cash Paid for the Purchase of Goods and the Acceptance of Services 144122642090.77 122454193548.07 Net Increase in Customer Loans and Advances Net Increase in Deposits with the Central Bank and Other Financial Institutions Cash Paid for Claim Settlements of Original Insurance Contracts Net Increase in Funds Lent Out Cash Paid for Interest Handling Fees and Commissions Cash Paid for Policy Dividends Cash Paid to and on Behalf of Employees 12157994148.54 11126200718.40 Various Taxes and Fees Paid 12537731682.83 11570501390.34 Other Cash Paid Related to Operating Activities (LXV) 10375359071.19 9070892413.14 Subtotal of Cash Outflows from Operating Activities 179193726993.33 154221788069.95 Net Cash Flow from Operating Activities 4849398813.14 19861466237.56 II. Cash Flows from Investing Activities Cash Received from the Recovery of Investments 10810279.99 131461810.72 Cash Received from Investment Income 133704425.53 344832879.75 Net Cash Received from the Disposal of Fixed Assets Intangible Assets and Other 1575204509.73296034699.57 Long-term Assets Net Cash Received from the Disposal of Subsidiaries and Other Business Units Other Cash Received Related to Investing Activities (LXV) 8070026424.80 6216944276.29 Subtotal of Cash Inflows from Investing Activities 9789745640.05 6989273666.33 Cash Paid for the Acquisition and Construction of Fixed Assets Intangible Assets and 4868110296.052824057426.66 Other Long-term Assets Cash Paid for Investments 5930805734.00 2373361769.00 Net Increase in Pledged Loans Net Cash Paid for the Acquisition of Subsidiaries and Other Business Units Other Cash Paid Related to Investing Activities (LXV) 3304127222.22 8000000000.00 Subtotal of Cash Outflows from Investing Activities 14103043252.27 13197419195.66 Net Cash Flow from Investing Activities -4313297612.22 -6208145529.33 III. Cash Flows from Financing Activities Cash Received from Investment Absorption 1610958613.68 35190000.00 Among which: Cash Received from Minority Shareholders' Investment in 1610958613.6835190000.00 Subsidiaries Cash Received from Borrowings 1060422300.00 120000000.00 Other Cash Received Related to Financing Activities (LXV) 470003596.92 863425006.28 Subtotal of Cash Inflows from Financing Activities 3141384510.60 1018615006.28 Cash Paid for Debt Repayment 554422300.00 683000000.00 Cash Paid for the Distribution of Dividends Profits or the Payment of Interest 3450483881.48 2380851402.08 Among which: Dividends and Profits Paid by Subsidiaries to Minority Shareholders 150000.00 Other Cash Paid Related to Financing Activities (LXV) 527876271.57 83072569.73 Subtotal of Cash Outflows from Financing Activities 4532782453.05 3146923971.81 Net Cash Flow from Financing Activities -1391397942.45 -2128308965.53 IV. Effects of Exchange Rate Changes on Cash and Cash Equivalents 203715353.42 -90488889.33 V. Net Increase in Cash and Cash Equivalents -651581388.11 11434522853.37 Plus: Beginning Balance of Cash and Cash Equivalents 63925957901.11 52491435047.74 VI. Ending Balance of Cash and Cash Equivalents 63274376513.00 63925957901.11 The accompanying notes to the financial statements are an integral part of the financial statements.Person in charge of the company： Person in charge of the accounting work： Head of the accounting department： 97Chongqing Changan Automobile Company Limited. Parent Company Statement of Cash Flows For the Year 2024 (Unless otherwise specified the monetary unit is RMB yuan) Amount for the Current Amount for the Previous Items Notes Period Period I. Cash Flows from Operating Activities Cash received from the sale of goods and the rendering of services 114258602282.10 121118712751.06 Tax refunds received 262217291.05 30303650.49 Other cash received related to operating activities 2193487589.05 3109565404.95 Subtotal of cash inflows from operating activities 116714307162.20 124258581806.50 Cash paid for the purchase of goods and the acceptance of services 97679832869.90 91573495374.62 Cash paid to and on behalf of employees 7508599383.38 6959713091.69 Various taxes and fees paid 4341100981.41 5715167820.29 Other cash paid related to operating activities 6666981391.62 6649843596.91 Subtotal of cash outflows from operating activities 116196514626.31 110898219883.51 Net cash flow from operating activities 517792535.89 13360361922.99 II. Cash Flows from Investing Activities Cash received from the recovery of investments 131461810.72 Cash received from investment income 729945763.53 324982879.75 Net cash received from the disposal of fixed assets intangible assets and 790788347.5910480609.45 other long - term assets Net cash received from the disposal of subsidiaries and other business units Other cash received related to investing activities 5640500000.00 Subtotal of cash inflows from investing activities 7161234111.12 466925299.92 Cash paid for the acquisition and construction of fixed assets intangible 3576390245.192008243647.99 assets and other long - term assets Cash paid for investments 7074579955.65 4026183368.63 Net cash paid for the acquisition of subsidiaries and other business units Other cash paid related to investing activities 3340000000.00 5500000000.00 Subtotal of cash outflows from investing activities 13990970200.84 11534427016.62 Net cash flow from investing activities -6829736089.72 -11067501716.70 III. Cash Flows from Financing Activities Cash received from investment absorption Cash received from borrowings 500000000.00 40000000.00 Other cash received related to financing activities Subtotal of cash inflows from financing activities 500000000.00 40000000.00 Cash paid for debt repayment 4000000.00 604000000.00 Cash paid for the distribution of dividends profits or the payment of 3444300329.832375052447.79 interest Other cash paid related to financing activities 82169455.31 62453603.64 Subtotal of cash outflows from financing activities 3530469785.14 3041506051.43 Net cash flow from financing activities -3030469785.14 -3001506051.43 IV. Effects of exchange rate changes on cash and cash equivalents V. Net increase in cash and cash equivalents -9342413338.97 -708645845.14 Plus: Beginning balance of cash and cash equivalents 44023772482.14 44732418327.28 VI. Ending balance of cash and cash equivalents 34681359143.17 44023772482.14 The accompanying notes to the financial statements are an integral part of the financial statements.Person in charge of the company： Person in charge of the accounting work： Head of the accounting department： 98Chongqing Changan Automobile Company Limited. Consolidated Statement of Changes in Owners' Equity For the Year 2024 (Unless otherwise specified the monetary unit is RMB yuan) Amount for the Current Period Owners' Equity Attributable to Shareholders of the Parent Company Items Other Equity Instruments Other General Risk Minority Interests Total Owners' Equity Share Capital Preferred Perpetual Capital Reserve Less: Treasury Shares Comprehensive Special Reserve Surplus Reserve Undistributed Profits Subtotal Others Provision Stocks Bonds Income I. Balance at the End of the Previous Year 9917289033.00 8251287637.70 382277095.96 118318784.04 54323330.34 4276245864.64 49617932431.73 71853119985.49 2830136853.54 74683256839.03 Plus: Changes in Accounting Policies Correction of Prior Period Errors Business Combinations under the Same Control Others II. Balance at the Beginning of the Current Year 9917289033.00 8251287637.70 382277095.96 118318784.04 54323330.34 4276245864.64 49617932431.73 71853119985.49 2830136853.54 74683256839.03 III. Amount of Changes during the Current Period -3202973.00674511212.44-213015433.23-110795425.2740690158.04680797165.363228089068.704723104639.50-325762236.434397342403.07 (A decrease is indicated by a “-” sign) (1) Total Comprehensive Income -110795425.27 7321363897.24 7210568471.97 -1216052535.29 5994515936.68 (2) Capital Contributed by and Reduced by Owners -3202973.00 674511212.44 -192047736.22 863355975.66 883255492.96 1746611468.62 1．Common Stocks Contributed by Owners -3202973.00 -3202973.00 1610960000.00 1607757027.00 2．Capital Contributed by Holders of Other Equity Instruments 3．Amounts Recognized in Owners' Equity from Share-based 81714852.5481714852.5481714852.54 Payments 4．Others 592796359.90 -192047736.22 784844096.12 -727704507.04 57139589.08 (3) Profit Distribution -20967697.01 680797165.36 -4093274828.54 -3391509966.17 -3391509966.17 1．Appropriation of Surplus Reserves 680797165.36 -680797165.36 2．Appropriation of General Risk Reserves 3．Distribution to Owners (or Shareholders) -20967697.01 -3412477663.18 -3391509966.17 -3391509966.17 4．Others (4) Internal Transfer of Owners' Equity 1．Conversion of Capital Reserve into Capital (or Share Capital) 2．Conversion of Surplus Reserve into Capital (or Share Capital) 3．Making up Losses with Surplus Reserves 4．Transfer of the Amount of Changes in the Defined Benefit Plan to Retained Earnings 5．Transfer of Other Comprehensive Income to Retained Earnings 6．Others (5) Special Reserves 40690158.04 40690158.04 7034805.90 47724963.94 1．Appropriation during the Current Period 122922799.10 122922799.10 12142772.98 135065572.08 2．Utilization during the Current Period 82232641.06 82232641.06 5107967.08 87340608.14 (6) Others IV. Balance at the End of the Current Period 9914086060.00 8925798850.14 169261662.73 7523358.77 95013488.38 4957043030.00 52846021500.43 76576224624.99 2504374617.11 79080599242.10 The accompanying notes to the financial statements are an integral part of the financial statements.Person in charge of the company： Person in charge of the accounting work： Head of the accounting department： 99Chongqing Changan Automobile Company Limited. Consolidated Statement of Changes in Owners' Equity (Continued) For the Year 2024 (Unless otherwise specified the monetary unit is RMB yuan) Amount for the Previous Period Owners' Equity Attributable to Shareholders of the Parent Company Items Other Equity Instruments Minority Interests Total Owners' Equity Share Capital Capital Reserve Less: Treasury Shares Other Comprehensive Income Special Reserve Surplus Reserve General Risk Provision Undistributed Profits Subtotal Preferred Stocks Perpetual Bonds Others I. Balance at the End of the Previous Year 9921799422.00 8532806685.77 627060416.52 98841615.42 24090898.05 3528165002.27 41379965149.07 62858608356.06 90708328.76 62949316684.82 Plus: Changes in Accounting Policies Correction of Prior Period Errors Business Combinations under the Same Control Others II. Balance at the Beginning of the Current Year 9921799422.00 8532806685.77 627060416.52 98841615.42 24090898.05 3528165002.27 41379965149.07 62858608356.06 90708328.76 62949316684.82 III. Amount of Changes during the Current Period (A decrease is indicated by a “-” sign) -4510389.00 -281519048.07 -244783320.56 19477168.62 30232432.29 748080862.37 8237967282.66 8994511629.43 2739428524.78 11733940154.21 (1) Total Comprehensive Income 19477168.62 11327463013.15 11346940181.77 -1825563972.18 9521376209.59 (2) Capital Contributed by and Reduced by Owners -4510389.00 -281519048.07 -218038971.73 -67990465.34 4557548599.34 4489558134.00 1．Common Stocks Contributed by Owners -4510389.00 -4510389.00 35190000.00 30679611.00 2．Capital Contributed by Holders of Other Equity Instruments 3．Amounts Recognized in Owners' Equity from Share-based Payments 348509207.00 348509207.00 348509207.00 4．Others -630028255.07 -218038971.73 -411989283.34 4522358599.34 4110369316.00 (3) Profit Distribution -26744348.83 748080862.37 -3089495730.49 -2314670519.29 -150000.00 -2314820519.29 1．Appropriation of Surplus Reserves 748080862.37 -748080862.37 2．Appropriation of General Risk Reserves 3．Distribution to Owners (or Shareholders) -26744348.83 -2341414868.12 -2314670519.29 -150000.00 -2314820519.29 4．Others (4) Internal Transfer of Owners' Equity 1．Conversion of Capital Reserve into Capital (or Share Capital) 2．Conversion of Surplus Reserve into Capital (or Share Capital) 3．Making up Losses with Surplus Reserves 4．Transfer of the Amount of Changes in the Defined Benefit Plan to Retained Earnings 5．Transfer of Other Comprehensive Income to Retained Earnings 6．Others (5) Special Reserves 30232432.29 30232432.29 7593897.62 37826329.91 1．Appropriation during the Current Period 126209917.06 126209917.06 9354725.09 135564642.15 2．Utilization during the Current Period 95977484.77 95977484.77 1760827.47 97738312.24 (6) Others IV. Balance at the End of the Current Period 9917289033.00 8251287637.70 382277095.96 118318784.04 54323330.34 4276245864.64 49617932431.73 71853119985.49 2830136853.54 74683256839.03 The accompanying notes to the financial statements are an integral part of the financial statements.Person in charge of the company： Person in charge of the accounting work： Head of the accounting department： 100Chongqing Changan Automobile Company Limited. Statement of Changes in Owners' Equity of the Parent Company For the Year 2024 (Unless otherwise specified the monetary unit is RMB yuan) Amount for the Current Period Other Equity Instruments Items Less: Treasury Other Comprehensive Special Undistributed Total Owners' Share Capital Preferred Perpetual Capital Reserve Surplus Reserve Others Shares Income Reserve Profits Equity Shares Bonds I. Balance at the End of the Previous Year 9917289033.00 8406226198.82 382277095.96 169049829.02 19514786.95 4276245864.64 44297589798.86 66703638415.33 Plus: Changes in Accounting Policies Correction of Prior Period Errors Others II. Balance at the Beginning of the Current Year 9917289033.00 8406226198.82 382277095.96 169049829.02 19514786.95 4276245864.64 44297589798.86 66703638415.33 III. Amount of Changes during the Current Period (A decrease is indicated by a -3202973.00-53193294.87-213015433.23-6390773.2225291061.20680797165.362861157047.273717473665.97 “-” sign) (1) Total Comprehensive Income -6390773.22 6954431875.81 6948041102.59 (2) Capital Contributed by and Reduced by Owners -3202973.00 -53193294.87 -192047736.22 135651468.35 1．Common Stocks Contributed by Owners -3202973.00 -3202973.00 2．Capital Contributed by Holders of Other Equity Instruments 3．Amounts Recognized in Owners' Equity from Share-based Payments 81714852.54 81714852.54 4．Others -134908147.41 -192047736.22 57139588.81 (3) Profit Distribution -20967697.01 680797165.36 -4093274828.54 -3391509966.17 1．Appropriation of Surplus Reserves 680797165.36 -680797165.36 2．Distribution to Owners (or Shareholders) -20967697.01 -3412477663.18 -3391509966.17 3．Others (4) Internal Transfer of Owners' Equity 1．Conversion of Capital Reserve into Capital (or Share Capital) 2．Conversion of Surplus Reserve into Capital (or Share Capital) 3．Making up Losses with Surplus Reserves 4．Transfer of the Amount of Changes in the Defined Benefit Plan to Retained Earnings 5．Transfer of Other Comprehensive Income to Retained Earnings 6．Others (5) Special Reserves 25291061.20 25291061.20 1．Appropriation during the Current Period 72435388.20 72435388.20 2．Utilization during the Current Period 47144327.00 47144327.00 (6) Others IV. Balance at the End of the Current Period 9914086060.00 8353032903.95 169261662.73 162659055.80 44805848.15 4957043030.00 47158746846.13 70421112081.30 The accompanying notes to the financial statements are an integral part of the financial statements.Person in charge of the company： Person in charge of the accounting work： Head of the accounting department： 101Chongqing Changan Automobile Company Limited. Statement of Changes in Owners' Equity of the Parent Company (Continued) For the Year 2024 (Unless otherwise specified the monetary unit is RMB yuan) Amount for the Current Period Other Equity Instruments Items Less: Treasury Other Comprehensive Special Undistributed Total Owners' Share Capital Preferred Perpetual Capital Reserve Surplus Reserve Others Shares Income Reserve Profits Equity Shares Bonds I. Balance at the End of the Previous Year 9921799422.00 8047195325.61 627060416.52 157416810.63 10285640.79 3528165002.27 39906276905.63 60944078690.41 Plus: Changes in Accounting Policies Correction of Prior Period Errors Others II. Balance at the Beginning of the Current Year 9921799422.00 8047195325.61 627060416.52 157416810.63 10285640.79 3528165002.27 39906276905.63 60944078690.41 III. Amount of Changes during the Current Period (A decrease is indicated by a -4510389.00359030873.21-244783320.5611633018.399229146.16748080862.374391312893.235759559724.92 “-” sign) (1) Total Comprehensive Income 11633018.39 7480808623.72 7492441642.11 (2) Capital Contributed by and Reduced by Owners -4510389.00 354030873.21 -218038971.73 567559455.94 1．Common Stocks Contributed by Owners -4510389.00 -4510389.00 2．Capital Contributed by Holders of Other Equity Instruments 3．Amounts Recognized in Owners' Equity from Share-based Payments 348509207.00 348509207.00 4．Others 5521666.21 -218038971.73 223560637.94 (3) Profit Distribution -26744348.83 748080862.37 -3089495730.49 -2314670519.29 1．Appropriation of Surplus Reserves 748080862.37 -748080862.37 2．Distribution to Owners (or Shareholders) -26744348.83 -2341414868.12 -2314670519.29 3．Others (4) Internal Transfer of Owners' Equity 1．Conversion of Capital Reserve into Capital (or Share Capital) 2．Conversion of Surplus Reserve into Capital (or Share Capital) 3．Making up Losses with Surplus Reserves 4．Transfer of the Amount of Changes in the Defined Benefit Plan to Retained Earnings 5．Transfer of Other Comprehensive Income to Retained Earnings 6．Others (5) Special Reserves 9229146.16 9229146.16 1．Appropriation during the Current Period 65743690.42 65743690.42 2．Utilization during the Current Period 56514544.26 56514544.26 (6) Others 5000000.00 5000000.00 IV. Balance at the End of the Current Period 9914086060.00 8406226198.82 382277095.96 169049829.02 19514786.95 4276245864.64 44297589798.86 66703638415.33 The accompanying notes to the financial statements are an integral part of the financial statements.Person in charge of the company： Person in charge of the accounting work： Head of the accounting department： 102重庆长安汽车股份有限公司（合并） Notes to the Financial Statements For the Year 2024 Chongqing Changan Automobile Company Limited.Notes to the Financial Statements For the Year 2024 (Unless otherwise specified the monetary unit is Renminbi yuan) I、 Basic Information of the Company Chongqing Changan Automobile Company Limited. (hereinafter referred to as the "Company" or "our Company") is a joint stock limited company registered in Chongqing in October 1996. It was listed on the Shenzhen Stock Exchange in June 1997. As of December 31 2024 the total cumulative number of shares issued by the Company is 9914086060. The registered address is: No. 260 Jianxin East Road Jiangbei District Chongqing China and the business address is: Building T2 No. 2 Financial City No. 61 Dongshengmen Road Jiangbei District Chongqing China. The main business activities actually engaged in by the Company include: the manufacturing and sales of automobiles (including cars) automotive engine series products supporting parts and components etc.The parent company of the Company is China Changan Automobile Group Company Limited. and the ultimate controlling party of the Company is China South Industries Group Corporation.These financial statements have been approved for issue by the Company's board of directors.II、 Basis for Preparation of Financial Statements (I) Preparation Basis These financial statements are prepared in accordance with the "Accounting Standards for Enterprises - Basic Standards" promulgated by the Ministry of Finance various specific accounting standards application guidelines for accounting standards for enterprises interpretations of accounting standards for enterprises and other relevant regulations (collectively referred to as the "Accounting Standards for Enterprises" hereinafter) as well as the relevant provisions of the "Regulations on the Preparation and Reporting of Information Disclosure by Companies Publicly Issuing Securities No. 15 - General Provisions for Financial Reports" of the China Securities Regulatory Commission.(II) Going Concern These financial statements are prepared on a going concern basis. 103重庆长安汽车股份有限公司（合并） Notes to the Financial Statements For the Year 2024 III、 Significant Accounting Policies and Accounting Estimates (I) Statement of Compliance with Accounting Standards for Enterprises These financial statements comply with the requirements of the Accounting Standards for Enterprises promulgated by the Ministry of Finance and truthfully and completely reflect the consolidated and parent company's financial position as of December 31 2024 as well as the consolidated and parent company's operating results and cash flows for the year 2024.(II) Accounting Period An accounting year is from January 1st to December 31st of the Gregorian calendar year.(III) Operating Cycle The operating cycle of the Company is 12 months.(IV) Functional Currency The functional currency of the Company and the currency used for preparing these financial statements are both Renminbi. Unless otherwise specified all amounts are presented in Renminbi yuan. The Company's subsidiaries joint ventures and associated enterprises determine their respective functional currencies according to the main economic environments in which they operate and convert them into Renminbi when preparing financial statements.(V) Accounting Treatment Methods for Business Combinations under the Same Control and Business Combinations not under the Same Control Business Combinations under the Same Control: The assets and liabilities (including the goodwill formed by the ultimate controlling party's acquisition of the combined party) obtained by the combining party in a business combination are measured based on the carrying values of the assets and liabilities of the combined party in the consolidated financial statements of the ultimate controlling party as of the combination date. The difference between the carrying value of the net assets obtained in the combination and the carrying value of the consideration paid for the combination (or the total face value of the issued shares) is adjusted against the share premium in capital reserve. If the share premium in capital reserve is insufficient to cover the difference the retained earnings are adjusted.Business Combinations under the Same Control: The assets and liabilities (including the 104重庆长安汽车股份有限公司（合并） Notes to the Financial Statements For the Year 2024 goodwill formed by the ultimate controlling party's acquisition of the combined party) obtained by the combining party in a business combination are measured based on the carrying values of the assets and liabilities of the combined party in the consolidated financial statements of the ultimate controlling party as of the combination date. The difference between the carrying value of the net assets obtained in the combination and the carrying value of the consideration paid for the combination (or the total face value of the issued shares) is adjusted against the share premium in capital reserve. If the share premium in capital reserve is insufficient to cover the difference the retained earnings are adjusted.(VI) Judgment Criteria for Control and Preparation Methods of Consolidated Financial Statements 1、 Judgment Criteria for Control The consolidation scope of the consolidated financial statements is determined based on control and the consolidation scope includes the Company and all its subsidiaries.Control refers to the power that the Company has over the investee the ability to obtain variable returns by participating in the relevant activities of the investee and the ability to use the power over the investee to affect the amount of its returns. 2、 Consolidation Procedures The Company regards the entire enterprise group as an accounting entity prepares consolidated financial statements in accordance with unified accounting policies and reflects the overall financial position operating results and cash flows of the enterprise group. The effects of internal transactions between the Company and its subsidiaries and among subsidiaries are offset. Where internal transactions indicate that there are impairment losses on relevant assets the full amount of such losses is recognized. If the accounting policies and accounting periods adopted by subsidiaries are inconsistent with those of the Company necessary adjustments shall be made in accordance with the Company's accounting policies and accounting periods when preparing consolidated financial statements.The shares of minority shareholders in the owners' equity current net profit and current comprehensive income of subsidiaries are separately presented under the owners' equity item in the consolidated balance sheet under the net profit item in the consolidated income statement and under the total comprehensive income item respectively. The balance formed when the current losses borne by the minority 105重庆长安汽车股份有限公司（合并） Notes to the Financial Statements For the Year 2024 shareholders of a subsidiary exceed the share of the minority shareholders in the beginning owners' equity of the subsidiary shall be offset against the minority shareholders' equity. （1）Addition of Subsidiaries or Businesses During the reporting period if a subsidiary or business is added due to a business combination under the same control the operating results and cash flows of the subsidiary or business from the beginning of the current period of combination to the end of the reporting period shall be included in the consolidated financial statements.At the same time the beginning figures of the consolidated financial statements and the relevant items of the comparative statements shall be adjusted as if the reporting entity after combination has existed since the starting point of control by the ultimate controlling party.。 If the investor is able to exercise control over the investee under the same control due to additional investment and other reasons for the equity investment held before obtaining the control right of the combined party the recognized relevant profits and losses other comprehensive income and other net asset changes from the later date of the date of obtaining the original equity and the date when the combining party and the combined party are under the same control to the combination date shall be offset against the beginning retained earnings during the comparative statement period or the current profit or loss respectively.During the reporting period if a subsidiary or business is added due to a business combination not under the same control it shall be included in the consolidated financial statements from the acquisition date based on the fair values of the identifiable assets liabilities and contingent liabilities determined on the acquisition date.If the investor is able to exercise control over the investee not under the same control due to additional investment and other reasons for the equity of the acquiree held before the acquisition date it shall be re-measured at its fair value on the acquisition date and the difference between the fair value and its carrying value shall be included in the current investment income. The other comprehensive income that can be reclassified into profit or loss in the future and other changes in the owners' equity under the equity method accounting related to the equity of the acquiree held before the acquisition date shall be converted into the investment income of the current period to which the acquisition date belongs. 106重庆长安汽车股份有限公司（合并） Notes to the Financial Statements For the Year 2024 （2）Disposal of Subsidiaries * General Treatment Method When the control over the investee is lost due to the disposal of part of the equity investment or for other reasons the remaining equity investment after the disposal shall be re-measured at its fair value on the date of loss of control. The difference between the sum of the consideration obtained from the disposal of the equity and the fair value of the remaining equity and the sum of the share of the net assets of the original subsidiary that should be enjoyed calculated according to the original shareholding ratio and continuously calculated from the acquisition date or combination date and the goodwill shall be included in the investment income of the current period when the control is lost. The other comprehensive income that can be reclassified into profit or loss in the future related to the equity investment in the original subsidiary and other changes in the owners' equity under the equity method accounting shall be converted into the current investment income when the control is lost.* Step-by-step Disposal of Subsidiaries When the equity investment in a subsidiary is disposed of step by step through multiple transactions until the control is lost the terms conditions and economic impacts of each transaction of the disposal of the equity investment in the subsidiary meet one or more of the following situations which usually indicates that the multiple transactions are a package of transactions: ⅰ．These transactions are concluded simultaneously or under the consideration of their mutual influences； ⅱ．These transactions as a whole can achieve a complete business result； ⅲ．The occurrence of one transaction depends on the occurrence of at least one other transaction； ⅳ．One transaction is uneconomical when viewed separately but it is economical when considered together with other transactions.If each transaction belongs to a one block deal each transaction shall be accounted for as a transaction of disposing of a subsidiary and losing control; the difference between the consideration received from each disposal before the loss of control and the share of the net assets of the subsidiary corresponding to the disposed investment shall be recognized as other comprehensive income in the consolidated financial statements and shall be transferred to the profit or loss of the current period when 107重庆长安汽车股份有限公司（合并） Notes to the Financial Statements For the Year 2024 the control is lost.If each transaction does not belong to a one block deal before the loss of control the accounting treatment shall be carried out in accordance with the partial disposal of the equity investment in the subsidiary without losing control; when the control is lost the accounting treatment shall be carried out in accordance with the general treatment method for the disposal of the subsidiary. （3）Purchase of Minority Interests in Subsidiaries The difference between the newly acquired long-term equity investment due to the purchase of minority interests and the share of the net assets of the subsidiary that should be enjoyed calculated according to the newly increased shareholding ratio and continuously calculated from the acquisition date or combination date shall be adjusted against the share premium in capital reserve in the consolidated balance sheet. If the share premium in capital reserve is insufficient to cover the difference the retained earnings shall be adjusted. （4）Partial Disposal of Equity Investments in Subsidiaries without Losing Control The difference between the consideration received from the disposal and the share of the net assets of the subsidiary that should be enjoyed corresponding to the disposed long-term equity investment and continuously calculated from the acquisition date or combination date shall be adjusted against the share premium in capital reserve in the consolidated balance sheet. If the share premium in capital reserve is insufficient to cover the difference the retained earnings shall be adjusted.(VII) Criteria for Determining Cash and Cash Equivalents Cash refers to the Company's cash on hand and deposits that can be used for payment at any time. Cash equivalents refer to the investments held by the Company that have a short term to maturity strong liquidity are readily convertible to a known amount of cash and have insignificant risk of changes in value.(VIII) Foreign Currency Transactions and Translation of Foreign Currency Financial Statements 1、 Foreign Currency Transactions For foreign currency transactions the spot exchange rate on the transaction date is 108重庆长安汽车股份有限公司（合并） Notes to the Financial Statements For the Year 2024 used as the conversion rate to convert the foreign currency amount into Renminbi for accounting purposes.The balances of foreign currency monetary items on the balance sheet date are converted at the spot exchange rate on the balance sheet date. The resulting exchange differences except for those arising from foreign currency specific borrowings related to the acquisition and construction of assets that meet the capitalization conditions which are accounted for in accordance with the principles of capitalizing borrowing costs are all included in the current profit or loss. 2、 Translation of Foreign Currency Financial Statements For the assets and liabilities items in the balance sheet they are translated at the spot exchange rate on the balance sheet date; for the items of owners' equity except for the "undistributed profits" item other items are translated at the spot exchange rate on the date of occurrence. For the revenue and expense items in the income statement they are translated at the spot exchange rate on the transaction date.When disposing of a foreign operation the translation differences of the foreign currency financial statements related to the foreign operation are transferred from the owners' equity items to the profit or loss of the current period of disposal.(IX) Financial Instruments The Company recognizes a financial asset a financial liability or an equity instrument when it becomes a party to a financial instrument contract. 1、 Classification of Financial Instruments 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 upon 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 classifies a financial asset that meets the following conditions simultaneously and is not designated as a financial asset measured at fair value through profit or loss as a financial asset measured at amortized cost： － The business model is aimed at collecting contractual cash flows； － The contractual cash flows are solely payments of principal and interest on the 109重庆长安汽车股份有限公司（合并） Notes to the Financial Statements For the Year 2024 principal amount outstanding.The Company classifies a financial asset that meets the following conditions simultaneously and is not designated as a financial asset measured at fair value through profit or loss as a financial asset measured at fair value through other comprehensive income (debt instrument): － The business model is both aimed at collecting contractual cash flows and selling the financial asset； － The contractual cash flows are solely payments of principal and interest on the principal amount outstanding.For non-trading equity instrument investments the Company may irrevocably designate them as financial assets measured at fair value through other comprehensive income (equity instruments) upon initial recognition. This designation is made on a single investment basis and the related investment meets the definition of an equity instrument from the perspective of the issuer.Except for the above financial assets measured at amortized cost and financial assets 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 upon initial recognition as: financial liabilities measured at fair value through profit or loss and financial liabilities measured at amortized cost. 2、 Recognition Basis and Measurement Methods for Financial Instruments （1）Financial Assets Measured at Amortized Cost Financial assets measured at amortized cost include notes receivable accounts receivable other receivables long - term receivables debt investments etc. They are initially measured at fair value and the related transaction costs are included in the initial recognition amount. Accounts receivable that do not contain a significant financing component and accounts receivable for which the Company decides not to consider the financing component of no more than one year are initially measured at the contract transaction price. 110重庆长安汽车股份有限公司（合并） Notes to the Financial Statements For the Year 2024 During the holding period the interest calculated using the effective interest method is included in the current profit or loss.When the financial asset is recovered or disposed of the difference between the proceeds received and the carrying amount of the financial asset is included in the current profit or loss. （2）Financial Assets Measured at Fair Value through Other Comprehensive Income (Debt Instruments) Financial assets measured at fair value through other comprehensive income (debt instruments) include accounts receivable financing other debt investments etc.They are initially measured at fair value and the related transaction costs are included in the initial recognition amount. These financial assets are subsequently measured at fair value. Except for the interest calculated using the effective interest method impairment losses or gains and exchange gains or losses all fair - value changes are included in other comprehensive income.Upon derecognition the cumulative gains or losses previously included in other comprehensive income are transferred from other comprehensive income to the current profit or loss. （3）Financial Assets Measured at Fair Value through Other Comprehensive Income (Equity Instruments) Financial assets measured at fair value through other comprehensive income (equity instruments) include other equity instrument investments etc. They are initially measured at fair value and the related transaction costs are included in the initial recognition amount. These financial assets are subsequently measured at fair value and the fair - value changes are included in other comprehensive income. Dividends received are included in the current profit or loss.Upon derecognition the cumulative gains or losses previously included in other comprehensive income are transferred from other comprehensive income to retained earnings. （4） Financial Assets Measured at Fair Value through Profit or Loss Financial assets measured at fair value through profit or loss include trading financial assets derivative financial assets other non - current financial assets etc. They are 111重庆长安汽车股份有限公司（合并） Notes to the Financial Statements For the Year 2024 initially measured at fair value and the related transaction costs are included in the current profit or loss. These financial assets are subsequently measured at fair value and the fair - value changes are included in the current profit or loss. （5）Financial Liabilities Measured at Fair Value through Profit or Loss Financial liabilities measured at fair value through profit or loss include trading financial liabilities derivative financial liabilities etc. They are initially measured at fair value and the related transaction costs are included in the current profit or loss.These financial liabilities are subsequently measured at fair value and the fair - value changes are included in the current profit or loss.Upon derecognition the difference between the carrying amount and the consideration paid is included in the current profit or loss. （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 long - term payables. They are initially measured at fair value and the related transaction costs are included in the initial recognition amount.During the holding period the interest calculated using the effective interest method is included in the current profit or loss.Upon derecognition the difference between the consideration paid and the carrying amount of the financial liability is included in the current profit or loss. 3、 Recognition Criteria and Measurement Methods for the Derecognition of Financial Assets and the Transfer of Financial Assets The Company derecognizes a financial asset when one of the following conditions is met: － The contractual right to receive cash flows from the financial asset expires; － The financial asset is transferred and almost all the risks and rewards associated with the ownership of the financial asset are transferred to the transferee; － The financial asset is transferred and although the Company has neither transferred nor retained almost all the risks and rewards associated with the ownership of the financial asset it has not retained control over the financial asset. 112重庆长安汽车股份有限公司（合并） Notes to the Financial Statements For the Year 2024 If the Company modifies or renegotiates the contract with the counterparty and the modification is substantial the original financial asset is derecognized and a new financial asset is recognized in accordance with the modified terms.When a financial asset is transferred if the Company retains almost all the risks and rewards associated with the ownership of the financial asset the financial asset is not derecognized.In determining whether a financial asset transfer meets the above - mentioned financial asset derecognition conditions the principle of substance over form is applied.The Company classifies financial asset transfers into overall transfers and partial transfers of financial assets. When an overall transfer of a financial asset meets the derecognition conditions the difference between the following two amounts is recognized in the current profit and loss: （1）The carrying amount of the transferred financial asset; （2）The sum of the consideration received from the transfer and the cumulative amount of changes in fair value that have been directly recognized in the owner's equity (in the case where the transferred financial asset is a financial asset measured at fair value with its changes recognized in other comprehensive income (debt instrument)).When a partial transfer of a financial asset meets the derecognition conditions the carrying amount of the entire transferred financial asset is allocated between the derecognized part and the non - derecognized part based on their respective relative fair values and the difference between the following two amounts is recognized in the current profit and loss: （1）The carrying amount of the derecognized part; （2） The sum of the consideration for the derecognized part and the amount of the cumulative changes in fair value that have been directly recognized in the owner's equity corresponding to the derecognized part (in the case where the transferred financial asset is a financial asset measured at fair value with its changes recognized in other comprehensive income (debt instrument)). 113重庆长安汽车股份有限公司（合并） Notes to the Financial Statements For the Year 2024 If a financial asset transfer does not meet the derecognition conditions the financial asset is continued to be recognized and the consideration received is recognized as a financial liability. 4、 Derecognition of Financial Liabilities When all or part of the current obligations of a financial liability have been discharged the financial liability or a part of it is derecognized. If the Company enters into an agreement with the creditor to replace the existing financial liability by assuming 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 is derecognized and a new financial liability is recognized simultaneously.When the contractual terms of all or part of the existing financial liability are substantially modified the existing financial liability or a part of it is derecognized and at the same time the financial liability with the modified terms is recognized as a new financial liability.When all or part of a financial liability is derecognized the difference between the carrying amount of the derecognized financial liability and the consideration paid (including the transferred non-cash assets or the assumed new financial liability) is included in the current profit or loss.If the Company repurchases part of a financial liability on the repurchase date the carrying amount of the entire financial liability is allocated according to the relative fair values of the part that continues to be recognized and the part that is derecognized. The difference between the carrying amount allocated to the derecognized part and the consideration paid (including the transferred non-cash assets or the assumed new financial liability) is included in the current profit or loss. 5、 Methods for Determining the Fair Values of Financial Assets and Financial Liabilities For financial instruments with an active market their fair values are determined based on the quoted prices in the active market. For financial instruments without an active market valuation techniques are used to determine their fair values. When conducting valuation the Company applies valuation techniques that are applicable under the current circumstances and are supported by sufficient available data and other information. It selects input values that are consistent with the characteristics 114重庆长安汽车股份有限公司（合并） Notes to the Financial Statements For the Year 2024 of the assets or liabilities considered by market participants in transactions of the relevant assets or liabilities and gives priority to using relevant observable input values. Only when relevant observable input values cannot be obtained or are not practically obtainable will unobservable input values be used. 6、 Testing Methods and Accounting Treatment Methods for the Impairment of Financial Instruments The Company conducts impairment accounting treatment based on expected credit losses for financial assets measured at amortized cost financial assets measured at fair value through other comprehensive income (debt instruments) financial guarantee contracts etc.The Company considers reasonable and well-founded information such as relevant past events current conditions and forecasts of future economic conditions and calculates the probability-weighted amount of the present value of the difference between the contractually receivable cash flows and the expected receivable cash flows weighted by the risk of default to recognize expected credit losses.For accounts receivable and contract assets arising from transactions governed by Accounting Standards for Enterprises No. 14 - Revenue regardless of whether they contain a significant financing component the Company always measures their loss allowances at an amount equivalent to the expected credit losses over their entire remaining lives.For lease receivables arising from transactions governed by Accounting Standards for Enterprises No. 21 - Leases the Company chooses to always measure their loss allowances at an amount equivalent to the expected credit losses over their entire remaining lives.For other financial instruments the Company assesses the changes in the credit risks of the relevant financial instruments since their initial recognition at each balance sheet date.The Company determines the relative change in the risk of default over the expected remaining life of the financial instrument by comparing the risk of default of the financial instrument at the balance sheet date with the risk of default at the initial recognition date so as to evaluate whether the credit risk of the financial instrument has increased significantly since its initial recognition. Generally if the overdue 115重庆长安汽车股份有限公司（合并） Notes to the Financial Statements For the Year 2024 period exceeds 30 days the Company deems that the credit risk of the financial instrument has increased significantly unless there is conclusive evidence to prove that the credit risk of the financial instrument has not increased significantly since its initial recognition.If the credit risk of a financial instrument is low at the balance sheet date the Company deems that the credit risk of the financial instrument has not increased significantly since its initial recognition.If the credit risk of a financial instrument has increased significantly since its initial recognition the Company measures its loss allowance at an amount equivalent to the expected credit losses over the entire remaining life of the financial instrument; if the credit risk of the financial instrument has not increased significantly since its initial recognition the Company measures its loss allowance at an amount equivalent to the expected credit losses over the next 12 months of the financial instrument. The increase or reversal amount of the loss allowance thus formed is recognized as an impairment loss or gain in the current profit or loss. For financial assets measured at fair value through other comprehensive income (debt instruments) the loss allowance is recognized in other comprehensive income and the impairment loss or gain is recognized in the current profit or loss and the carrying amount of the financial asset presented in the balance sheet is not reduced.(X) Inventories 1、 Classification and Cost of Inventories Inventories are classified as goods in transit raw materials turnover materials finished goods work in progress goods shipped but not yet delivered goods entrusted for processing etc.Inventories are initially measured at cost and the cost of inventories includes the purchase cost processing cost and other expenditures incurred to bring the inventories to their present location and condition.. 2、 Valuation Method for Issued Inventories The weighted average method is adopted. 3、 Inventory Recording System The perpetual inventory system is adopted. 116重庆长安汽车股份有限公司（合并） Notes to the Financial Statements For the Year 2024 4、 Amortization Methods for Low-value Consumables and Packaging Materials （1）Low-value consumables are amortized using the one-time write-off method （2）Packaging materials are amortized using the one-time write-off method. 5、 Recognition Criteria and Provision Methods for Inventory Write-down Provisions At the balance sheet date inventories shall be measured at the lower of cost and net realizable value. When the cost of inventories is higher than their net realizable value inventory write-down provisions shall be made. The net realizable value refers to the amount obtained by deducting the estimated costs to be incurred until completion estimated selling expenses and relevant taxes and fees from the estimated selling price of the inventories in the ordinary course of business.For finished goods goods in stock and materials directly for sale the net realizable value is determined by deducting the estimated selling expenses and relevant taxes and fees from the estimated selling price of the inventories in the normal production and operation process; for materials that need to be processed the net realizable value is determined by deducting the estimated costs to be incurred until completion estimated selling expenses and relevant taxes and fees from the estimated selling price of the finished products produced in the normal production and operation process; for inventories held for the execution of sales contracts or labor contracts the net realizable value is calculated based on the contract price. If the quantity of inventories held is more than the quantity ordered in the sales contract the net realizable value of the excess part of the inventories is calculated based on the general selling price After the inventory write-down provisions are made if the factors that previously caused the decrease in the value of the inventories have disappeared resulting in the net realizable value of the inventories being higher than their carrying amount the write-down shall be reversed within the amount of the previously provided inventory write-down provisions and the reversed amount shall be included in the current profit or loss.(XI) Contract Assets 1、 Recognition Methods and Criteria for Contract Assets 117重庆长安汽车股份有限公司（合并） Notes to the Financial Statements For the Year 2024 The Company presents contract assets or contract liabilities in the balance sheet based on the relationship between the performance of performance obligations and customer payments. The right of the Company to receive consideration for the transfer of goods or provision of services to customers (and this right depends on factors other than the passage of time) is presented as a contract asset. Contract assets and contract liabilities under the same contract are presented on a net basis. The Company's unconditional right (depending only on the passage of time) to receive consideration from customers is presented separately as accounts receivable. 2、 Determination Methods and Accounting Treatment Methods for Expected Credit Losses of Contract Assets The determination methods and accounting treatment methods for the expected credit losses of contract assets are detailed in "III. (9) 6. Testing Methods and Accounting Treatment Methods for the Impairment of Financial Instruments" of these notes.(XII) Held - for - Sale and Discontinued Operations 1、 Held - for - Sale Non - current assets or disposal groups that are recovered through sale (including non - monetary asset exchanges with commercial substance) rather than through continuous use are classified as held - for - sale.The Company classifies non - current assets or disposal groups as held - for - sale if they meet the following conditions simultaneously: （1）They are immediately available for sale in their present condition in accordance with the customary practices for selling such assets or disposal groups in similar transactions. （2）The sale is highly probable meaning that the Company has made a decision on a sale plan and has obtained a firm purchase commitment and it is expected that the sale will be completed within one year. Where relevant regulations require the approval of the Company's relevant authority or regulatory department before the sale can be made such approval has been obtained.For non - current assets (excluding financial assets deferred tax assets and assets formed by employee compensation) or disposal groups classified as held - for - sale if their carrying amount is higher than the net amount of fair value less selling costs 118重庆长安汽车股份有限公司（合并） Notes to the Financial Statements For the Year 2024 the carrying amount is written down to the net amount of fair value less selling costs.The amount of the write - down is recognized as an asset impairment loss which is included in the current profit or loss and at the same time an impairment provision for held - for - sale assets is made.(XIII) Long-term Equity Investments 1、 Judgment Criteria for Joint Control and Significant Influence Joint control refers to the shared control over an arrangement in accordance with relevant agreements and the relevant activities of this arrangement must be decided upon with the unanimous consent of the participating parties sharing the control rights. When the Company together with other joint venturers exercises joint control over an investee and has rights to the net assets of the investee the investee is a joint venture of the Company.Significant influence refers to the power to participate in the financial and operating decision-making of an investee but without the ability to control or jointly control together with other parties the formulation of these policies. When the Company is able to exert significant influence on an investee the investee is an associate of the Company. 2、 Determination of the Initial Investment Cost （1）Long-term Equity Investments Formed through Business Combinations For long-term equity investments in subsidiaries formed through business combinations under the same control on the combination date the share of the carrying value of the owners' equity of the combined party in the consolidated financial statements of the ultimate controlling party is taken as the initial investment cost of the long-term equity investment. The difference between the initial investment cost of the long-term equity investment and the carrying value of the consideration paid is adjusted against the share premium in capital reserve; if the share premium in capital reserve is insufficient to cover the difference the retained earnings are adjusted. When the Company is able to exercise control over the investee under the same control due to additional investment and other reasons the difference between the initial investment cost of the long-term equity investment confirmed in accordance with the above principles and the sum of the carrying value of the long-term equity investment before the combination and the carrying value of 119重庆长安汽车股份有限公司（合并） Notes to the Financial Statements For the Year 2024 the additional consideration paid for the newly acquired shares on the combination date is adjusted against the share premium. If the share premium is insufficient to cover the difference the retained earnings are reduced.For long-term equity investments in subsidiaries formed through business combinations not under the same control the combination cost determined on the acquisition date is taken as the initial investment cost of the long-term equity investment. When the Company is able to exercise control over the investee not under the same control due to additional investment and other reasons the sum of the carrying value of the original equity investment and the cost of the newly added investment is taken as the initial investment cost. （2）Long-term Equity Investments Obtained through Other Means than Business Combinations For long-term equity investments obtained by paying cash the actual purchase price paid is taken as the initial investment cost.For long-term equity investments obtained by issuing equity securities the fair value of the issued equity securities is taken as the initial investment cost. 3、 Subsequent Measurement and Profit or Loss Recognition Methods （1） Long-term Equity Investments Accounted for under the Cost Method The Company's long-term equity investments in subsidiaries are accounted for under the cost method unless the investment meets the conditions for being classified as held for sale. Except for the declared but unpaid cash dividends or profits included in the actual payment price or consideration when the investment is acquired the Company recognizes the current investment income according to the cash dividends or profits declared and distributed by the investee that the Company is entitled to. （2）Long-term Equity Investments Accounted for under the Equity Method Long-term equity investments in associates and joint ventures are accounted for under the equity method. If the initial investment cost is greater than the share of the fair value of the identifiable net assets of the investee that the Company is entitled to at the time of investment the initial investment cost of the long-term equity investment is not adjusted; if the initial investment cost is less than the share of the fair value of the identifiable net assets of the investee that the Company is entitled to at the time of investment the difference is included in the current profit or loss and at the same time the cost of the long-term equity investment is adjusted. 120重庆长安汽车股份有限公司（合并） Notes to the Financial Statements For the Year 2024 The Company respectively recognizes investment income and other comprehensive income according to the share of the net profit or loss and other comprehensive income realized by the investee that the Company is entitled to or should bear and at the same time adjusts the carrying value of the long-term equity investment; calculates the share it is entitled to according to the profits or cash dividends declared and distributed by the investee and correspondingly reduces the carrying value of the long-term equity investment; for other changes in the owners' equity of the investee other than net profit or loss other comprehensive income and profit distribution (referred to as "other changes in owners' equity" for short) adjusts the carrying value of the long-term equity investment and includes it in the owners' equity.When confirming the share of the net profit or loss other comprehensive income and other changes in owners' equity of the investee that the Company is entitled to based on the fair value of the identifiable net assets of the investee at the time of investment and in accordance with the Company's accounting policies and accounting periods the Company adjusts the net profit and other comprehensive income of the investee before confirmation.The portion of the unrealized internal transaction profits and losses that occur between the Company and its associates or joint ventures and that belongs to the Company calculated according to the proportion the Company is entitled to is offset and on this basis the investment income is recognized except when the invested or sold assets constitute a business. The unrealized internal transaction losses that occur with the investee if they are asset impairment losses are fully recognized.The Company's share of the net losses incurred by a joint venture or an associate is limited to reducing the carrying value of the long-term equity investment and other long-term interests that substantially constitute a net investment in the joint venture or the associate to zero except for the obligation to bear additional losses. When the joint venture or the associate realizes a net profit in the future the Company resumes recognizing the share of the profit after the share of the profit offsets the unrecognized share of the losses. （3）Disposal of Long-term Equity Investments The difference between the carrying value of a long-term equity investment and the actual proceeds obtained from its disposal is included in the current profit or loss.When disposing of part of a long-term equity investment accounted for under the 121重庆长安汽车股份有限公司（合并） Notes to the Financial Statements For the Year 2024 equity method and the remaining equity is still accounted for under the equity method the other comprehensive income recognized under the original equity method accounting is transferred out in proportion based on the same basis as that for the investee's direct disposal of the relevant assets or liabilities and the other changes in owners' equity are transferred into the current profit or loss in proportion.When the Company loses joint control or significant influence over the investee due to the disposal of equity investments and other reasons the other comprehensive income recognized due to the equity method accounting for the original equity investment is accounted for based on the same basis as that for the investee's direct disposal of the relevant assets or liabilities when the equity method accounting is terminated and the other changes in owners' equity are all transferred into the current profit or loss when the equity method accounting is terminated.When the Company loses control over the investee due to the disposal of part of the equity investment and other reasons when preparing individual financial statements if the remaining equity enables the Company to exercise joint control or significant influence over the investee the accounting method is changed to the equity method and the remaining equity is adjusted as if the equity method had been applied since its acquisition. The other comprehensive income recognized before obtaining control over the investee is transferred out in proportion based on the same basis as that for the investee's direct disposal of the relevant assets or liabilities and the other changes in owners' equity recognized due to the equity method accounting are transferred into the current profit or loss in proportion; if the remaining equity cannot enable the Company to exercise joint control or significant influence over the investee it is recognized as a financial asset and the difference between its fair value and carrying value on the date of losing control is included in the current profit or loss and the other comprehensive income and other changes in owners' equity recognized before obtaining control over the investee are all transferred out.When disposing of the equity investment in a subsidiary step by step through multiple transactions until the control is lost if it is a package of transactions each transaction is accounted for as a transaction of disposing of the equity investment in the subsidiary and losing control; before losing control the difference between the consideration received from each disposal and the carrying value of the long-term equity investment corresponding to the disposed equity is in individual financial statements first recognized as other comprehensive income and then transferred 122重庆长安汽车股份有限公司（合并） Notes to the Financial Statements For the Year 2024 into the current profit or loss of the period when the control is lost. If it is not a package of transactions each transaction is accounted for separately.(XIV) Investment Real Estate Investment real estate refers to real estate held for the purpose of earning rental income or capital appreciation or both including leased land use rights land use rights held and intended to be transferred after appreciation and leased buildings (including buildings used for lease upon the completion of self-construction or development activities as well as buildings under construction or development that will be used for lease in the future).Subsequent expenditures related to investment real estate are included in the cost of investment real estate when it is highly probable that the relevant economic benefits will flow in and the cost can be reliably measured; otherwise they are included in the current profit or loss when they occur.The Company measures existing real estate investment using the cost model. For investment real estate measured using the cost model the depreciation policy for leased buildings is the same as that for the Company's fixed assets and the amortization policy for leased land use rights is implemented in the same way as that for intangible assets.(XV) Fixed Assets 1、 Recognition and Initial Measurement of Fixed Assets Fixed assets refer to tangible assets held for the production of goods the provision of labor services lease or for business management purposes and with a useful life exceeding one accounting year. Fixed assets are recognized when the following conditions are simultaneously met: （1）It is highly probable that the economic benefits related to the fixed asset will flow into the enterprise. （2）The cost of the fixed asset can be reliably measured. Fixed assets are initially measured at cost (taking into account the impact of estimated disposal expenses).Subsequent expenditures related to fixed assets are included in the cost of fixed assets when it is highly probable that the economic benefits related to them will flow in and their costs can be reliably measured; for the replaced parts their carrying values are derecognized; all other subsequent expenditures are included in the current profit or loss when they occur. 123重庆长安汽车股份有限公司（合并） Notes to the Financial Statements For the Year 2024 2、 Depreciation Methods Depreciation of fixed assets is calculated and provided for by category using the straight-line method. The depreciation rate is determined according to the categories of fixed assets their estimated useful lives and the estimated residual value rates.For fixed assets for which impairment provisions have been made the depreciation amount in future periods is determined based on the carrying value after deducting the impairment provisions and the remaining useful life. If the useful lives of the various components of a fixed asset are different or they provide economic benefits to the enterprise in different ways different depreciation rates or depreciation methods are selected to calculate and provide for depreciation separately.The depreciation methods useful lives residual value rates and annual depreciation rates of various types of fixed assets are as follows: Estimated residual Category Service life Annual depreciation rate value rate Buildings and structures 20-35 years 3% 2.77-4.85% Machinery and equipment 5-20 years 3% 4.85-19.40% Transportation vehicles 4-10 years 3% 9.70-24.25% Other equipment 3-21 years 3% 4.62-32.33% Note: For the molds among the machinery and equipment depreciation is calculated using the units-of-production method. 3、 Disposal of Fixed Assets When a fixed asset is disposed of or it is expected that no economic benefits can be generated through its use or disposal the fixed asset is derecognized. The amount obtained by deducting the carrying value and relevant taxes and fees from the disposal proceeds of a fixed asset from its sale transfer scrapping or damage is included in the current profit or loss.(XVI) Construction in Progress Construction in progress is measured at the actual cost incurred. The actual cost includes construction costs installation costs borrowing costs that meet the capitalization conditions and other necessary expenditures incurred before the construction in progress reaches the intended usable state. When the construction in progress reaches the intended usable state 124重庆长安汽车股份有限公司（合并） Notes to the Financial Statements For the Year 2024 it is transferred to fixed assets and depreciation is provided starting from the following month.(XVII) Borrowing Costs 1、 Recognition Principles for the Capitalization of Borrowing Costs Borrowing costs incurred by the Company can be directly attributed to the acquisition construction or production of assets that meet the capitalization conditions are capitalized and included in the cost of the relevant assets; other borrowing costs are recognized as expenses based on the amount incurred when they occur and are included in the current profit or loss.Assets that meet the capitalization conditions refer to fixed assets investment real estate inventories and other assets that require a substantial period of acquisition construction or production activities to reach the intended usable or salable state. 2、 Capitalization Period of Borrowing Costs The capitalization period refers to the period from the starting point of capitalizing borrowing costs to the stopping point of capitalizing borrowing costs excluding the period during which the capitalization of borrowing costs is suspended.The capitalization of borrowing costs begins when the following conditions are simultaneously met: （1）Asset expenditures have occurred. Asset expenditures include expenditures made in the form of cash payments transfer of non-cash assets or assumption of interest-bearing debts for the acquisition construction or production of assets that meet the capitalization conditions; （2）Borrowing costs have occurred; （3）The acquisition construction or production activities necessary for the asset to reach the intended usable or salable state have started.When the asset that meets the capitalization conditions and is under acquisition construction or production reaches the intended usable or salable state the capitalization of borrowing costs stops. 3、 Period of Suspended Capitalization If there is an abnormal interruption during the acquisition construction or production of assets that meet the capitalization conditions and the interruption 125重庆长安汽车股份有限公司（合并） Notes to the Financial Statements For the Year 2024 period exceeds 3 months continuously the capitalization of borrowing costs is suspended; if this interruption is a necessary procedure for the asset that meets the capitalization conditions and is under acquisition construction or production to reach the intended usable or salable state the capitalization of borrowing costs continues. The borrowing costs incurred during the interruption period are recognized as current profit or loss until the acquisition construction or production activities of the asset resume and the capitalization of borrowing costs continues. 4、 Calculation Methods for the Capitalization Rate and Capitalized Amount of Borrowing Costs For specific borrowings borrowed for the acquisition construction or production of assets that meet the capitalization conditions the capitalized amount of borrowing costs is determined by subtracting the interest income obtained from depositing the unused borrowing funds in the bank or the investment income obtained from temporary investments from the borrowing costs actually incurred in the current period for the specific borrowings.For general borrowings used for the acquisition construction or production of assets that meet the capitalization conditions the amount of borrowing costs that should be capitalized for the general borrowings is calculated and determined by multiplying the weighted average of the asset expenditures exceeding the specific borrowings by the capitalization rate of the general borrowings used. The capitalization rate is calculated and determined based on the weighted average actual interest rate of the general borrowings.During the capitalization period the exchange differences on the principal and interest of specific foreign currency borrowings are capitalized and included in the cost of assets that meet the capitalization conditions. The exchange differences on the principal and interest of other foreign currency borrowings other than specific foreign currency borrowings are included in the current profit or loss.(XVIII) Intangible Assets 1、 Valuation Methods of Intangible Assets （1）The Company initially measures intangible assets at cost when it obtains them； The cost of externally purchased intangible assets includes the purchase price relevant taxes and fees as well as other expenditures directly attributable to bringing 126重庆长安汽车股份有限公司（合并） Notes to the Financial Statements For the Year 2024 the asset to its intended use. （2）Subsequent Measurement When obtaining an intangible asset the Company analyzes and determines its useful life.For intangible assets with a finite useful life they are amortized over the period during which they bring economic benefits to the enterprise. For intangible assets for which it is not possible to foresee the period during which they will bring economic benefits to the enterprise they are regarded as intangible assets with an indefinite useful life and are not amortized. 2、 Estimation of the Useful Life of Intangible Assets with a Finite Useful Life Project Estimated Useful Life Amortization Method Right to Use Land 33 - 50 years Straight-line Method Right to Use Software 2 years Straight-line Method Right to Use Trademark 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 Distinguishing between the Research Stage and the Development Stage The expenditures of the Company's internal research and development projects are divided into research stage expenditures and development stage expenditures.Research Stage: It refers to the stage of original and planned investigations and research activities carried out to acquire and understand new scientific or technical knowledge etc.Development Stage: It refers to the stage of activities in which research achievements or other knowledge are applied to a certain plan or design before commercial production or use in order to produce new or substantially improved materials devices products etc. 4、 Specific Conditions for the Capitalization of Development Stage Expenditures Expenditures incurred in the research stage are recognized as current profit or loss 127重庆长安汽车股份有限公司（合并） Notes to the Financial Statements For the Year 2024 when they occur. Development stage expenditures that simultaneously meet the following conditions are recognized as intangible assets and development stage expenditures that do not meet the following conditions are recognized as current profit or loss: (1) It is technically feasible to complete the intangible asset so that it can be used or sold; (2) There is the intention to complete the intangible asset and use or sell it； (3) The way in which the intangible asset generates economic benefits including being able to prove that there is a market for the products produced by applying the intangible asset or that there is a market for the intangible asset itself. If the intangible asset will be used internally it is necessary to be able to prove its usefulness； (4) There are sufficient technical financial and other resources to support the completion of the development of the intangible asset and there is the ability to use or sell the intangible asset； (5) The expenditures attributable to the development stage of the intangible asset can be reliably measured.If it is impossible to distinguish between research stage expenditures and development stage expenditures all the research and development expenditures incurred will be recognized as current profit or loss.(XIX) Impairment of Long-term Assets Long-term assets such as long-term equity investments investment real estate measured using the cost model fixed assets construction in progress right-of-use assets and intangible assets with a finite useful life are subject to an impairment test if there are indications of impairment at the balance sheet date. If the results of the impairment test indicate that the recoverable amount of an asset is lower than its carrying amount an impairment provision is made for the difference and recognized as an impairment loss. The recoverable amount is the higher of the net amount of the fair value of the asset less disposal costs and the present value of the expected future cash flows of the asset. Impairment provisions for assets are calculated and recognized on the basis of individual assets. 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 is determined. An asset group is the smallest combination of assets that can generate cash inflows independently.For goodwill formed through business combinations intangible assets with an indefinite 128重庆长安汽车股份有限公司（合并） Notes to the Financial Statements For the Year 2024 useful life and intangible assets that have not yet reached the usable state an impairment test is carried out at least at the end of each year regardless of whether there are indications of impairment.When the Company conducts an impairment test on goodwill the carrying amount of the goodwill formed through business combinations is allocated to the relevant asset groups in a reasonable manner since the acquisition date; if it is difficult to allocate it to the relevant asset groups it is allocated to the relevant asset group combinations. The relevant asset groups or asset group combinations are those that can benefit from the synergistic effects of the business combination.When conducting an impairment test on the relevant asset groups or asset group combinations that include goodwill if there are indications of impairment in the asset groups or asset group combinations related to the goodwill an impairment test is first carried out on the asset groups or asset group combinations that do not include goodwill the recoverable amount is calculated and it is compared with the relevant carrying amount to recognize the corresponding impairment loss. Then an impairment test is carried out on the asset groups or asset group combinations that include goodwill and their carrying amount is compared with the recoverable amount. If the recoverable amount is lower than the carrying amount the amount of the impairment loss first offsets the carrying amount of the goodwill allocated to the asset groups or asset group combinations and then according to the proportion of the carrying amount of each of the other assets in the asset groups or asset group combinations except for the goodwill the carrying amounts of the other assets are offset proportionally. Once the above-mentioned asset impairment losses are recognized they will not be reversed in subsequent accounting periods.(XX) Long-term Prepaid Expenses Long-term prepaid expenses refer to various expenses that have already been incurred but should be borne by the current period and subsequent periods with an amortization period of more than one year.(XXI) Contract Liabilities The Company presents contract assets or contract liabilities in the balance sheet based on the relationship between the fulfillment of performance obligations and customers' payments. The obligation to transfer goods or provide services to customers for which the Company has received or is entitled to receive consideration from customers is presented 129重庆长安汽车股份有限公司（合并） Notes to the Financial Statements For the Year 2024 as contract liabilities. Contract assets and contract liabilities under the same contract are presented on a net basis.(XXII) Employee Salaries and Benefits 1、 Accounting Treatment Methods for Short-term Employee Benefits During the accounting period when employees provide services to the Company the Company recognizes the actual short-term employee benefits incurred as liabilities and includes them in the current profit or loss or the cost of relevant assets.The social insurance premiums and housing provident funds paid by the Company for employees as well as the trade union funds and employee education funds withdrawn according to regulations are calculated and determined as the corresponding employee salary and benefit amounts during the accounting period when employees provide services to the Company based on the specified accrual basis and accrual ratio.The employee welfare expenses incurred by the Company are included in the current profit or loss or the cost of relevant assets according to the actual amount incurred at the time of occurrence. Among them non-monetary welfare benefits are measured at fair value. 2、 Accounting Treatment Methods for Post-employment Benefits （1）Defined Contribution Plan The Company pays basic endowment insurance and unemployment insurance for employees in accordance with the relevant regulations of the local government.During the accounting period when employees provide services to the Company the payable amount is calculated according to the local specified payment base and ratio recognized as a liability and included in the current profit or loss or the cost of relevant assets. In addition the Company also participates in the enterprise annuity plan approved by the relevant national departments. The Company contributes to the annuity plan at a certain percentage of the total employee salaries and the corresponding expenditures are included in the current profit or loss or the cost of relevant assets. （2）Defined Benefit Plan The Company attributes the welfare obligations arising from the defined benefit plan to the period when employees provide services according to the formula determined 130重庆长安汽车股份有限公司（合并） Notes to the Financial Statements For the Year 2024 by the projected unit credit method and includes them in the current profit or loss or the cost of relevant assets.The deficit or surplus formed by subtracting the fair value of the defined benefit plan assets from the present value of the defined benefit plan obligations is recognized as a net defined benefit liability or net asset. When there is a surplus in the defined benefit plan the Company measures the net defined benefit plan asset at the lower of the surplus of the defined benefit plan and the asset ceiling.All defined benefit plan obligations including those expected to be paid within twelve months after the end of the annual reporting period during which employees provide services are discounted based on the market yield of national bonds or high- quality corporate bonds in an active market that match the term and currency of the defined benefit plan obligations as of the balance sheet date.The service cost arising from the defined benefit plan and the net interest on the net defined benefit liability or net asset are included in the current profit or loss or the cost of relevant assets; the changes arising from the remeasurement of the net defined benefit liability or net asset are included in other comprehensive income and will not be reversed to profit or loss in subsequent accounting periods. When the original defined benefit plan is terminated the part originally included in other comprehensive income is all transferred to the undistributed profit within the scope of equity.When settling the defined benefit plan the settlement gain or loss is recognized based on the difference between the present value of the defined benefit plan obligations determined on 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 employee salary and benefit liability arising from the termination benefits at the earlier of the following two dates and includes it in the current profit or loss: when the Company cannot unilaterally withdraw the termination benefits provided due to the labor relationship termination plan or the downsizing proposal; when the Company recognizes the costs or expenses related to the restructuring involving the payment of termination benefits.(XXIII) Provision Liabilities 131重庆长安汽车股份有限公司（合并） Notes to the Financial Statements For the Year 2024 The Company recognizes a provision liability when the obligations related to a contingent event simultaneously meet the following conditions: （1）The obligation is a present obligation that the Company undertakes； （2）It is highly probable that the performance of this obligation will result in an outflow of economic benefits from the Company； （3）The amount of the obligation can be reliably measured。 Provision liabilities are initially measured at the best estimate of the expenditure required to settle the relevant present obligation.When determining the best estimate factors such as risks uncertainties and the time value of money related to the contingent event are comprehensively considered. For those with a significant impact of the time value of money the best estimate is determined by discounting the relevant future cash outflows.If all or part of the expenditure required to settle the provision liability is expected to be compensated by a third party the compensation amount when it is virtually certain to be received is recognized as an asset separately and the recognized compensation amount shall not exceed the carrying value of the provision liability.The Company reviews the carrying value of the provision liability at the balance sheet date.If there is conclusive evidence indicating that the carrying value does not reflect the current best estimate the carrying value is adjusted according to the current best estimate.(XXIV) Share-based Payments The share-based payments of the Company refer to transactions in which equity instruments are granted or liabilities determined based on equity instruments are assumed in order to obtain services provided by employees or other parties. The share-based payments of the Company are divided into share-based payments settled in equity and share-based payments settled in cash. 1、 Share-based Payments Settled in Equity and Equity Instruments For share-based payments settled in equity in exchange for services provided by employees they are measured at the fair value of the equity instruments granted to employees. For share-based payment transactions that can be exercised immediately upon grant on the grant date the fair value of the equity instruments is included in 132重庆长安汽车股份有限公司（合并） Notes to the Financial Statements For the Year 2024 the relevant costs or expenses and the capital reserve is increased accordingly. For share-based payment transactions that can only be exercised after the completion of the vesting period and the satisfaction of the specified performance conditions at each balance sheet date during the vesting period the Company based on the best estimate of the number of exercisable equity instruments includes the services obtained during the current period in the relevant costs or expenses according to the fair value on the grant date and increases the capital reserve accordingly.If the terms of the share-based payment settled in equity are modified the services obtained are recognized at least in accordance with the situation where the terms have not been modified. In addition any modification that increases the fair value of the granted equity instruments or any change that is 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 treats the cancellation of the granted equity instruments as an accelerated exercise of rights immediately includes the amount that should be recognized during the remaining vesting period in the current profit or loss and recognizes the capital reserve at the same time. However if new equity instruments are granted and it is determined on the grant date of the new equity instruments that the granted new equity instruments are used to replace the cancelled equity instruments the granted replacement equity instruments shall be treated in the same way 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 liabilities calculated and determined by the Company based on shares or other equity instruments. For share-based payment transactions that can be exercised immediately upon grant on the grant date the Company includes the fair value of the assumed liabilities in the relevant costs or expenses according to the fair value of the assumed liabilities and increases the liabilities accordingly. For share-based payment transactions that can only be exercised after the completion of the vesting period and the satisfaction of the specified performance conditions at each balance sheet date during the vesting period the Company based on the best estimate of the exercisability situation includes the services obtained during the current period in 133重庆长安汽车股份有限公司（合并） Notes to the Financial Statements For the Year 2024 the relevant costs or expenses according to the fair value of the liabilities assumed by the Company and includes them in the liabilities accordingly. At each balance sheet date before the settlement of the relevant liabilities and on the settlement date the fair value of the liabilities is remeasured and the changes are included in the current profit or loss.If the Company modifies the terms and conditions in the share-based payment agreement settled in cash to make it a share-based payment settled in equity on the modification date (whether it occurs during the vesting period or after the end of the vesting period) the Company measures the share-based payment settled in equity at the fair value of the granted equity instruments on that day includes the services already obtained in the capital reserve and at the same time terminates the recognition of the liabilities already recognized for the share-based payment settled in cash on the modification date. The difference between the two is included in the current profit or loss. If the vesting period is extended or shortened due to the modification the Company shall conduct accounting treatment according to the modified vesting period.(XXV) Revenue 1、 Accounting policies for revenue recognition and measurement The Company recognizes revenue when it fulfills its performance obligations under a contract i.e. when the customer obtains control of the relevant goods or services.Control of goods or services refers to the ability to direct the use of and obtain substantially all the economic benefits from the goods or services For contracts containing two or more performance obligations the Company allocates the transaction price to each separate performance obligation at the inception of the contract based on the relative stand-alone selling prices of the goods or services promised under each obligation. Revenue is measured based on the transaction price allocated to each separate performance obligation.The transaction price is the amount of consideration the Company expects to be entitled to in exchange for transferring goods or services to customers excluding amounts collected on behalf of third parties or expected to be refunded to customers.The Company determines the transaction price based on the contract terms and its past practices taking into account factors such as variable consideration significant 134重庆长安汽车股份有限公司（合并） Notes to the Financial Statements For the Year 2024 financing components in the contract non-cash consideration and consideration payable to customers. The Company determines the transaction price including variable consideration to the extent that it is highly probable that a significant reversal of cumulative revenue recognized will not occur when the uncertainty is resolved. For contracts with significant financing components the Company determines the transaction price as the amount the customer would have paid if control of the goods or services had been transferred at the time of payment in cash and amortizes the difference between the transaction price and the contract consideration over the contract term using the effective interest method.A performance obligation is satisfied over time if it meets one of the following criteria; otherwise it is satisfied at a point in time: * The customer simultaneously receives and consumes the economic benefits of the Company’s performance as the Company performs.* The customer controls the goods being created or enhanced during the Company’s performance.* The goods produced by the Company’s performance have no alternative use and the Company has an enforceable right to payment for performance completed to date.For performance obligations satisfied over time the Company recognizes revenue over the period of performance based on the progress toward completion unless the progress cannot be reasonably measured. The Company determines the progress toward completion using either an output or input method depending on the nature of the goods or services. If the progress cannot be reasonably determined revenue is recognized to the extent of costs incurred that are expected to be recoverable until the progress can be reasonably measured.For performance obligations satisfied at a point in time the Company recognizes revenue when the customer obtains control of the goods or services. In determining whether the customer has obtained control the Company considers the following indicators: * The Company has a present right to payment for the goods or services i.e. the customer has a present obligation to pay.* The Company has transferred legal title of the goods to the customer.* The Company has physically transferred the goods to the customer. 135重庆长安汽车股份有限公司（合并） Notes to the Financial Statements For the Year 2024 * The Company has transferred the significant risks and rewards of ownership of the goods to the customer.* 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 goods or services before they are transferred to the customer. If the Company controls the goods or services before transfer it acts as a principal and recognizes revenue based on the gross amount of consideration received or receivable; otherwise it acts as an agent and recognizes revenue based on the amount of commission or fee it expects to be entitled to. 2、 Disclosure of specific revenue recognition methods and measurement approaches by business type The Company recognizes revenue when it fulfills its performance obligations under a contract i.e. when the customer obtains control of the relevant goods or services.Control of goods or services refers to the ability to direct the use of and obtain substantially all the economic benefits from the goods or services. （1）Sales contracts Sales contracts between the Company and its customers typically include performance obligations such as the transfer of goods. The Company generally recognizes revenue at the point in time when each performance obligation is satisfied considering factors such as the present right to payment transfer of significant risks and rewards of ownership transfer of legal title physical transfer of goods and customer acceptance. （2）Service contracts For service contracts the performance obligations are satisfied over time because the customer simultaneously receives and consumes the economic benefits of the Company’s performance and the Company has an enforceable right to payment for performance completed to date. Revenue is recognized based on the progress toward completion unless the progress cannot be reasonably measured. The Company uses the output method determining progress based on products completed or delivered.If the progress cannot be reasonably determined revenue is recognized to the extent of costs incurred that are expected to be recoverable until the progress can be 136重庆长安汽车股份有限公司（合并） Notes to the Financial Statements For the Year 2024 reasonably measured. （3）Variable consideration Some contracts with customers include sales rebate arrangements resulting in variable consideration. The Company estimates the variable consideration using either the expected value or the most likely amount but 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 uncertainty is resolved. （4）Warranty obligations In accordance with contractual terms or legal requirements the Company provides quality assurance for sold goods. For service-type warranties that provide a separate service beyond ensuring that the goods comply with agreed-upon standards the Company treats them as a separate performance obligation. The transaction price is allocated between the goods and the service-type warranty based on their relative stand-alone selling prices and revenue is recognized when the customer obtains control of the service. In assessing whether a warranty provides a separate service the Company considers factors such as whether the warranty is a legal requirement the warranty period and the nature of the tasks the Company promises to perform. （5）Loyalty points program When selling goods or providing services the Company grants customers loyalty points that can be redeemed for free or discounted goods or services. The loyalty points program provides customers with a material right which the Company treats as a separate performance obligation. The transaction price is allocated between the goods or services and the loyalty points based on their relative stand-alone selling prices and revenue is recognized when the customer redeems the points or when the points expire. （6）Principal/agent considerations For arrangements where the Company directs a third party to provide services on its behalf and has the right to determine the price of the goods or services traded i.e.the Company controls the goods before they are transferred to the customer the 137重庆长安汽车股份有限公司（合并） Notes to the Financial Statements For the Year 2024 Company acts as a principal and recognizes revenue based on the gross amount of consideration received or receivable. Otherwise the Company acts as an agent and recognizes revenue based on the amount of commission or fee it expects to be entitled to which is determined as the net amount after deducting amounts payable to other parties or based on a predetermined commission rate or amount.(XXVI) Contract Costs Contract costs include costs to fulfill a contract and costs to obtain a contract.Costs incurred by the Company to fulfill a contract that are not within the scope of other standards (e.g. inventories fixed assets or intangible assets) are recognized as an asset if the following conditions are met: * The costs are directly related to a current or anticipated contract.* The costs increase the Company’s resources for fulfilling performance obligations in the future.* The costs are expected to be recovered.Incremental costs incurred to obtain a contract that are expected to be recovered are recognized as an asset.Assets related to contract costs are amortized on the same basis as the recognition of revenue from the related goods or services. However if the amortization period of costs to obtain a contract does not exceed one year the Company recognizes them as an expense when incurred.If the carrying amount of an asset related to contract costs exceeds the difference between: 1、The remaining consideration expected to be received for transferring the related goods or services; 2、The estimated costs to transfer the related goods or services the Company recognizes an impairment loss for the excess amount. If factors leading to prior impairment subsequently change resulting in the difference exceeding the carrying amount the Company reverses the impairment loss to the extent that the carrying amount does not exceed what it would have been had no impairment been recognized.(XXVII) Government Grants 1、 Types Government grants are monetary or non-monetary assets received by the Company from the government without compensation. They are classified into grants related 138重庆长安汽车股份有限公司（合并） Notes to the Financial Statements For the Year 2024 to assets and grants related to income.Grants related to assets are those received for the purchase or construction of long- term assets. Grants related to income are all other government grants. 2. Timing of recognition Government grants are recognized when the Company meets the attached conditions and can receive the grants. 3. Accounting treatment The Company accounts for government grants using the net method.Grants related to assets are deducted from the carrying amount of the related asset or recognized as deferred income. If recognized as deferred income they are amortized to profit or loss over the useful life of the related asset using a systematic and rational method.Grants related to income that compensate for future related costs or losses are recognized as deferred income and amortized to profit or loss or deducted from related costs or losses when the costs or losses are recognized. Grants that compensate for already incurred costs or losses are directly recognized in profit or loss or deducted from related costs or losses.For preferential loan interest subsidies received the Company accounts for them as follows: （1）If the subsidy is disbursed to the lending bank which then provides loans to the Company at a preferential interest rate the Company records the loan at the actual amount received and calculates interest expense based on the principal and preferential interest rate （2）If the subsidy is disbursed directly to the Company the Company offsets the subsidy against the related interest expense.(XXVIII) Deferred Tax Assets and Deferred Tax Liabilities Income tax includes current tax and deferred tax. Except for income tax arising from business combinations or transactions directly recognized in equity (including other comprehensive income) the Company recognizes current tax and deferred tax in profit or 139重庆长安汽车股份有限公司（合并） Notes to the Financial Statements For the Year 2024 loss.Deferred tax assets and deferred tax liabilities are recognized based on temporary differences between the tax bases and carrying amounts of assets and liabilities.Deferred tax assets are recognized for deductible temporary differences to the extent that it is probable that taxable profit will be available against which the temporary differences can be utilized. For deductible losses and tax credits that can be carried forward deferred tax assets are recognized to the extent that it is probable that future taxable profit will be available.Deferred tax liabilities are recognized for taxable temporary differences except in certain circumstances.Deferred tax assets or liabilities are not recognized in the following circumstances: * Initial recognition of goodwill; * Transactions or events that are not business combinations and do not affect accounting profit or taxable profit (or deductible losses) at the time of occurrence and for which the initial recognition of assets and liabilities does not create equal taxable and deductible temporary differences.Deferred tax liabilities are recognized for taxable temporary differences related to investments in subsidiaries associates and joint ventures unless the Company can control the timing of the reversal and it is probable that the temporary differences will not reverse in the foreseeable future. Deferred tax assets are recognized for deductible temporary differences related to such investments if it is probable that the temporary differences will reverse in the foreseeable future and taxable profit will be available.At the balance sheet date the Company reviews the carrying amount of deferred tax assets.If it is no longer probable that sufficient taxable profit will be available to utilize the deferred tax asset the carrying amount is reduced. Any reduction is reversed if it becomes probable that sufficient taxable profit will be available.When the Company has the legal right to settle current tax assets and liabilities on a net basis and intends to do so they are presented net in the balance sheet.Deferred tax assets and liabilities are presented net in the balance sheet if the following conditions are met: * The Company has the legal right to settle current tax assets and liabilities on a net basis; * The deferred tax assets and liabilities relate to income tax levied by the same tax 140重庆长安汽车股份有限公司（合并） Notes to the Financial Statements For the Year 2024 authority on the same taxable entity or different entities that intend to settle current tax assets and liabilities on a net basis or simultaneously realize the assets and settle the liabilities in each future period.(XXIX) Leases A lease is a contract that conveys the right to use an asset for a period of time in exchange for consideration. At the inception of a contract the Company assesses whether the contract is or contains a lease. If the contract transfers the right to control the use of one or more identified assets for a period of time in exchange for consideration it is or contains a lease.If a contract contains multiple leases the Company separates the contract and accounts for each lease separately. If a contract contains both lease and non-lease components the Company separates the lease and non-lease components. 1、 The Company as a lessee （1）Right-of-use assets At the commencement date of the lease the Company recognizes a right-of-use asset for leases other than short-term leases and leases of low-value assets. The right-of- use asset is initially measured at cost which includes: * The initial measurement amount of the lease liability; * Lease payments made at or before the commencement date less any lease incentives received; * Initial direct costs incurred by the Company; * Estimated costs of dismantling removing or restoring the leased asset or the site unless incurred to produce inventories.Subsequently the Company depreciates the right-of-use asset on a straight-line basis.If the Company is reasonably certain to obtain ownership of the leased asset by the end of the lease term the asset is depreciated over its remaining useful life; otherwise it is depreciated over the shorter of the lease term and the remaining useful life. （2）Lease liability At the commencement date of the lease the Company recognizes a lease liability for leases other than short-term leases and leases of low-value assets. The lease liability is initially measured at the present value of unpaid lease payments which include: * Fixed payments (including in-substance fixed payments) less any lease 141重庆长安汽车股份有限公司（合并） Notes to the Financial Statements For the Year 2024 incentives; * Variable lease payments that depend on an index or rate; * Amounts expected to be payable under residual value guarantees; * The exercise price of purchase options if the Company is reasonably certain to exercise the option; * Termination penalties if the lease term reflects the Company’s exercise of a termination option.The Company uses the interest rate implicit in the lease as the discount rate but if this cannot be readily determined it uses the incremental borrowing rate.Interest expense on the lease liability is calculated using the periodic interest rate and recognized in profit or loss or capitalized into the cost of related assets.Variable lease payments not included in the measurement of the lease liability are recognized in profit or loss or capitalized into the cost of related assets when incurred.After the commencement date the Company remeasures the lease liability and adjusts the right-of-use asset in the following circumstances: If the assessment of purchase renewal or termination options changes or if the actual exercise of such options differs from the original assessment the Company remeasures the lease liability based on the revised lease payments and discount rate; If in-substance fixed payments residual value guarantees or the index or rate used to determine lease payments change the Company remeasures the lease liability based on the revised lease payments and the original discount rate unless the change is due to a floating interest rate in which case the revised discount rate is used. （3）Short-term leases and leases of low-value assets For short-term leases and leases of low-value assets where the Company chooses not to recognize a right-of-use asset and lease liability lease payments are recognized in profit or loss or capitalized into the cost of related assets on a straight-line basis over the lease term. A short-term lease is one with a lease term of 12 months or less at the commencement date and no purchase option. A low-value asset lease is one for which the underlying asset is of low value when new. If the Company subleases or expects to sublease the asset the original lease is not a low-value asset lease. （4）Lease modifications A lease modification is accounted for as a separate lease if it meets both of the 142重庆长安汽车股份有限公司（合并） Notes to the Financial Statements For the Year 2024 following conditions: * It increases the scope of the lease by adding one or more underlying assets; * The increase in consideration is commensurate with the stand-alone price of the added scope adjusted for the circumstances of the contract.If the modification is not accounted for as a separate lease the Company reassigns the consideration redetermines the lease term and remeasures the lease liability based on the revised lease payments and discount rate at the effective date of the modification.If the modification reduces the scope or shortens the lease term the Company reduces the carrying amount of the right-of-use asset and recognizes a gain or loss.Other modifications that require remeasurement of the lease liability result in corresponding adjustments to the right-of-use asset. 2、 The company as a lessor At the commencement date of the lease the Company classifies leases as finance leases or operating leases. A finance lease is one that transfers substantially all the risks and rewards incidental to ownership of the underlying asset regardless of legal ownership. An operating lease is any lease other than a finance lease. When acting as an intermediate lessor the Company classifies the sublease based on the right-of- use asset arising from the head lease. （1）Operating lease accounting Lease receipts from operating leases are recognized as rental income on a straight- line basis over the lease term. Initial direct costs incurred are capitalized and amortized to profit or loss on the same basis as rental income recognition. Variable lease payments not included in lease receipts are recognized in profit or loss when incurred. If an operating lease is modified the Company accounts for it as a new lease from the effective date treating any prepaid or accrued lease receipts as receipts under the new lease （2）Finance lease accounting At the commencement date of a finance lease the Company recognizes a finance lease receivable and derecognizes the leased asset. The finance lease receivable is initially measured at the net investment in the lease which is the sum of the present 143重庆长安汽车股份有限公司（合并） Notes to the Financial Statements For the Year 2024 value of unguaranteed residual value and lease receipts not yet received at the commencement date discounted using the interest rate implicit in the lease.Interest income is recognized over the lease term using the periodic interest rate.Derecognition and impairment of finance lease receivables are accounted for in accordance with the policies in Note 3(9) "Financial Instruments." Variable lease payments not included in the net investment in the lease are recognized in profit or loss when incurred.A finance lease modification is accounted for as a separate lease if it meets both of the following conditions: It increases the scope of the lease by adding one or more underlying assets; The increase in consideration is commensurate with the stand-alone price of the added scope adjusted for the circumstances of the contract.If the modification is not accounted for as a separate lease the Company accounts for it as follows: If the modified lease would have been classified as an operating lease had it been in effect at the commencement date the Company accounts for it as a new operating lease from the effective date using the net investment in the lease as the carrying amount of the leased asset; If the modified lease would still have been classified as a finance lease the Company accounts for it in accordance with the policies in Note 3(9) "Financial Instruments" for contract modifications or reassessments. 3、 Sale and leaseback transactions The Company assesses whether a sale has occurred in a sale and leaseback transaction based on the principles in Note 3(25) "Revenue." （1）As a lessee If the transfer of the asset in a sale and leaseback transaction qualifies as a sale the Company measures the right-of-use asset arising from the leaseback at the portion of the carrying amount of the asset related to the right of use retained and recognizes only the gain or loss related to the rights transferred to the lessor.If the transfer does not qualify as a sale the Company continues to recognize the transferred asset and recognizes a financial liability equal to the transfer proceeds.The accounting for financial liabilities is detailed in Note 3(9) "Financial Instruments." 144重庆长安汽车股份有限公司（合并） Notes to the Financial Statements For the Year 2024 （2）As a lessor If the transfer qualifies as a sale the Company accounts for the purchase of the asset and leases it out in accordance with the policies above for lessors. If the transfer does not qualify as a sale the Company does not recognize the transferred asset but recognizes a financial asset equal to the transfer proceeds. The accounting for financial assets is detailed in Note 3(9) "Financial Instruments." (XXX) Materiality Standards and Selection Basis Item Materiality Standard Subsidiary’s net assets accounting for over 5% of the Company’s Significant non-wholly owned subsidiaries consolidated net assets or net profit accounting for over 10% of the Company’s consolidated net profit Investment income under the equity method accounting for over 10% of Significant joint ventures and associates the Company’s consolidated net profit Single write-off amount exceeding 5% of the total bad debt provision Significant write-offs of receivables for receivables or exceeding RMB 15 million Significant recoveries or reversals of bad debt Single recovery or reversal amount exceeding 5% of the total bad debt provisions for receivables provision for receivables or exceeding RMB 15 million Single amount exceeding 5% of total prepayments or exceeding RMB 15 Significant prepayments aged over 1 year million Significant payables aged over 1 year or Single amount exceeding 5% of total payables or exceeding RMB 15 overdue million Significant construction in progress Project balance exceeding RMB 50 million (XXXI) Changes in Significant Accounting Policies and Estimates 1、 Changes in significant accounting policies Implementation of "Accounting Standards for Business Enterprises Interpretation No. 18" regarding the accounting treatment for warranty-type quality assurance that does not constitute a separate performance obligation On December 6 2024 the Ministry of Finance issued "Accounting Standards for Business Enterprises Interpretation No. 18" (Cai Kuai [2024] No. 24 hereinafter referred to as "Interpretation No. 18") which came into effect on the date of issuance and allows companies to adopt it early in their annual reports.Interpretation No. 18 stipulates that when accounting for estimated liabilities arising from warranty-type quality assurance that does not constitute a separate performance obligation companies should debit "Cost of Sales" or "Other Operating Costs" and credit "Estimated Liabilities" in accordance with "Accounting Standards for 145重庆长安汽车股份有限公司（合并） Notes to the Financial Statements For the Year 2024 Business Enterprises No. 13—Contingencies" and present the amounts in "Cost of Sales" in the income statement and "Other Current Liabilities" "Non-current Liabilities Due Within One Year" or "Estimated Liabilities" in the balance sheet.When first applying the interpretation if the original provision for warranty-type quality assurance was recorded in "Selling Expenses" the Company retrospectively adjusts the accounting policy change. The main impact of adopting this interpretation from 2024 is as follows: Content and Affected financial Consolidated Parent Company reason for statement items accounting policy change 2024 2023 2024 2023 Implementation of "Accounting Standards for Cost of Sales 2097922084.25 1667654042.97 891328215.46 1129775535.65 Business Enterprises Interpretation No. Selling Expenses -2097922084.25 -1667654042.97 -891328215.46 -1129775535.65 18" IV、 Tax Items (I) Major taxes and tax rates Tax rate Tax type Tax basis （%） Calculated based on output tax on sales of goods and taxable Value-added tax 6、7、9、13 services minus input tax deductible in the current period Consumption tax Based on taxable sales revenue 1、3、5 Urban maintenance Based on actual VAT and consumption tax paid 5、7 and construction tax Corporate income tax Based on taxable income 15-41 Education surcharge Based on actual VAT and consumption tax paid 3 Based on actual VAT and consumption tax Based on actual VAT and consumption tax paid 2 paid (II) Tax incentives 1、 In accordance with national high-tech enterprise certification regulations and related tax incentives the Company and the following subsidiaries are recognized as high-tech enterprises and enjoy a preferential corporate income tax rate of 15% during specified 146重庆长安汽车股份有限公司（合并） Notes to the Financial Statements For the Year 2024 periods: the Company (2024–2026) Hebei Changan Automobile Co. Ltd. (2023–2025) and Shenlan Automobile Technology Co. Ltd. (2023–2025)Beijing Changan Automobile Engineering Technology Research Co. Ltd. (from 2022 to 2024). 2、According to the "Announcement on Continuing the Corporate Income Tax Policy for Western Development" (Announcement [2020] No. 23) jointly issued by the Ministry of Finance the State Taxation Administration and the National Development and Reform Commission from January 1 2021 to December 31 2030 encouraged industrial enterprises in western regions are subject to a reduced corporate income tax rate of 15%.The Company’s subsidiaries including Chongqing Changan Automobile International Sales Service Co. Ltd. Chongqing Changan Special Purpose Vehicle Co. Ltd. Chongqing Changan Automobile Customer Service Co. Ltd. Chongqing Changan Automobile Software Technology Co. Ltd. Chongqing Changan Technology Co. Ltd. Chongqing Lingyao Automobile Co. Ltd. and Chongqing Chehemei Technology Co. Ltd. meet the requirements and calculate corporate income tax at the 15% rate. 3、According to the "Announcement on Further Supporting the Development of Small and Micro Enterprises and Individual Businesses" (Announcement [2023] No. 12) small and micro-profit enterprises are taxed at 20% on 25% of taxable income. The Company’s subsidiaries including Chongqing Xingzhi Technology Co. Ltd. Shanghai Changan Zhixing Technology Co. Ltd. Nanjing Changan New Energy Vehicle Sales Service Co.Ltd. Xiamen Changan New Energy Vehicle Sales Service Co. Ltd. Shenlan Automobile Nanjing Research Institute Co. Ltd. Chongqing Changanxing Automobile Co. Ltd.and Shenlan Automobile Marketing Service (Shenzhen) Co. Ltd. are recognized as small and micro-profit enterprises and enjoy this tax incentive. 4、According to the "Announcement on the VAT Additional Deduction Policy for Advanced Manufacturing Enterprises" (Announcement [2023] No. 43) from January 1 2023 to December 31 2027 advanced manufacturing enterprises are allowed to deduct an additional 5% of deductible input tax from payable VAT. The Company、Hebei Changan Automobile Co. Ltd.and Shenlan Automobile Technology Co. Ltd. met the conditions in 2024 and applied this additional deduction policy. 147重庆长安汽车股份有限公司（合并） Notes to the Financial Statements For the Year 2024 V、 Notes to Consolidated Financial Statement Items (I) Cash and Cash Equivalents Item Ending balance Beginning balance Cash on hand 17882.93 35257.05 Bank deposits 31420742183.93 29493854273.50 Other cash and cash equivalents 632635145.29 461131970.31 Deposits with finance companies 32128700450.59 34916021247.02 Total 64182095662.74 64871042747.88 Including: Amounts held overseas 1700478478.22 1797894384.53 Note: Cash and cash equivalents deposited with related-party finance companies are detailed in Note 12(5)4.(II) Financial Assets at Fair Value Through Profit or Loss Beginning Item Ending balance balance Financial assets at fair value through profit or loss Including: Equity instrument investments 155013154.45 160744733.27 Others 6774614.02 Total 155013154.45 167519347.29 (III) Notes Receivable 1、 Classification of notes receivable Balance at the end of last Items Closing balance year Bank acceptance bills 32432000085.43 28588687367.75 Commercial acceptance bills 13148904497.29 9069703846.26 Total 45580904582.72 37658391214.01 148重庆长安汽车股份有限公司（合并） Notes to the Financial Statements For the Year 2024 2、 Notes receivable by bad debt provision method Ending balance Beginning balance Category Carrying amount Bad debt provision Carrying amount Bad debt provision Carrying value Carrying value Amount （%） Amount （%） Amount （%） Amount （%） Provision based on credit risk 45580904582.72 100.00 45580904582.72 37658391214.01 100.00 37658391214.01 characteristics Total 45580904582.72 100.00 45580904582.72 37658391214.01 100.00 37658391214.01 149重庆长安汽车股份有限公司（合并） Notes to the Financial Statements For the Year 2024 Provision based on credit risk characteristics: Ending balance Name Notes receivable Bad debt provision Provision rate (%) Bank acceptance 32432000085.43 bills Commercial 13148904497.29 acceptance bills Total 45580904582.72 3、 Pledged notes receivable as of the end of the period Item Ending pledged amount Bank acceptance bills 6569473317.00 Total 6569473317.00 4、 Notes receivable endorsed or discounted but not yet due as of the balance sheet date Ending derecognized Ending unrecognized Item amount amount Bank acceptance bills 4260987044.04 Total 4260987044.04 (IV) Accounts Receivable 1、 Accounts receivable by aging Aging Ending balance Beginning balance Within 1 year (inclusive) 3446137716.23 2455130606.98 1–2 years (inclusive) 16222867.47 9231834.37 2–3 years (inclusive) 2555202.33 436370.13 Over 3 years 182615371.52 196256136.33 Subtotal 3647531157.55 2661054947.81 150重庆长安汽车股份有限公司（合并） Notes to the Financial Statements For the Year 2024 Aging Ending balance Beginning balance Less: Bad debt provision 249053432.80 249258528.74 Total 3398477724.75 2411796419.07 151重庆长安汽车股份有限公司（合并） Notes to the Financial Statements For the Year 2024 2、 Classification and disclosure of accounts receivable according to the bad debt provision method Ending balance Beginning balance Category Carrying amount Bad debt provision Carrying amount Bad debt provision Carrying value Carrying value Amount （%） Amount （%） Amount （%） Amount （%） Specific 1812991314.0349.70138066311.497.621674925002.541155752310.5543.43139066311.4912.031016685999.06 provision Provision based on 1834539843.5250.30110987121.316.051723552722.211505302637.2656.57110192217.257.321395110420.01 credit risk characteristics Total 3647531157.55 100.00 249053432.80 3398477724.75 2661054947.81 100.00 249258528.74 2411796419.07 152重庆长安汽车股份有限公司（合并） Notes to the Financial Statements For the Year 2024 Provision based on credit risk characteristics: Ending balance Name Accounts receivable Bad debt provision Provision rate (%) Within 1 year 1707573111.15427972.980.03 (inclusive) 1–2 years (inclusive) 1668290.97 124237.19 7.45 2–3 years (inclusive) 2342330.57 283365.05 12.10 Over 3 years 122956110.83 110151546.09 89.59 Total 1834539843.52 110987121.31 3、 Changes in bad debt provision during the period Changes during the period Beginning Ending Category Recoveries or Write- Other balance Provision balance reversals offs changes Specific 139066311.491000000.00138066311.49 provision Provision based on 110192217.2515423392.8814628488.82110987121.31 credit risk characteristics Total 249258528.74 15423392.88 15628488.82 249053432.80 4、 Top five accounts receivable and contract assets by debtor As of December 31 2024 the top five accounts receivable totaled RMB1938829371.56 accounting for 53.15% of the total ending balance.(V) Prepayments 1、 Prepayments by aging 153重庆长安汽车股份有限公司（合并） Notes to the Financial Statements For the Year 2024 Ending balance Beginning balance Aging Amount % Amount % Within 1 year 502483902.5999.05281522043.6997.86 (inclusive) 1–2 years (inclusive) 4504672.39 0.89 1248976.74 0.43 2–3 years (inclusive) 56190.44 0.01 128513.87 0.04 Over 3 years 268916.65 0.05 4811476.32 1.67 Total 507313682.07 100.00 287711010.62 100.00 2、 Top five prepayments by prepayment object As of December 31 2024 the top five prepayments totaled RMB 383792311.56 accounting for 75.65% of the total prepayments.(VI) Other Receivables Item Ending balance Beginning balance Other receivables 2386898598.92 894268431.82 Total 2386898598.92 894268431.82 1、 Other receivables （1）By aging Aging Ending balance Beginning balance Within 1 year (inclusive) 2317334638.91 832441463.15 1–2 years (inclusive) 16154702.56 7857497.78 2–3 years (inclusive) 2166618.01 50952225.85 Over 3 years 59730163.91 10686669.55 Subtotal 2395386123.39 901937856.33 Less: Bad debt provision 8487524.47 7669424.51 Total 2386898598.92 894268431.82 154重庆长安汽车股份有限公司（合并） Notes to the Financial Statements For the Year 2024 （2）By bad debt provision method Ending balance Beginning balance Category Carrying amount Bad debt provision Carrying amount Bad debt provision Carrying Carrying value Amount % Amount % Amount % Amount % value Specific provision 1515498434.73 63.27 7376768.78 0.49 1508121665.95 720811020.18 79.92 7256494.25 1.01 713554525.93 Provision based on credit risk 879887688.66 36.73 1110755.69 0.13 878776932.97 181126836.15 20.08 412930.26 0.23 180713905.89 characteristics Total 2395386123.39 100.00 8487524.47 2386898598.92 901937856.33 100.00 7669424.51 894268431.82 155重庆长安汽车股份有限公司（合并） Notes to the Financial Statements For the Year 2024 Provision based on credit risk characteristics: Ending balance Name Other receivables Bad debt provision Provision rate (%) Within 1 year 813515334.2923504.390.00 (inclusive) 1–2 years 14630470.40658091.154.50 (inclusive) 2–3 years 1237782.060.00 (inclusive) Over 3 years 50504101.91 429160.15 0.85 Total 879887688.66 1110755.69 （3）Bad debt provision details Stage 1 Stage 2 Stage 3 Lifetime Lifetime 12-month Bad debt provision expected credit expected credit Total expected credit loss (not credit- loss (credit- loss impaired) impaired) Beginning balance 412930.26 7256494.25 7669424.51 -Transfers to Stage2 -Transfers to Stage3 -Return to Stage2 -Return to Stage1 Provision 697825.43 261893.60 959719.03 Recoveries or reversals 141619.07 141619.07 Write-offs Other changes Ending balance 1110755.69 7376768.78 8487524.47 Other receivables carrying amount changes: 156重庆长安汽车股份有限公司（合并） Notes to the Financial Statements For the Year 2024 Stage 1 Stage 2 Stage 3 Lifetime Lifetime 12-month expected expected Carrying amount Total expected credit credit loss credit loss loss (not credit- (credit- impaired) impaired) Beginning balance 894681362.08 7256494.25 901937856.33 -Transfers to Stage2 -Transfers to Stage3 -Return to Stage2 -Return to Stage1 New additions 6673837082.65 261893.60 6674098976.25 Derecognitions 5180509090.12 141619.07 5180650709.19 Other changes Ending balance 2388009354.61 7376768.78 2395386123.39 （4）Changes in bad debt provision during the period Changes during the period Beginning Ending Category Recoveries Other balance Provision Write-offs balance or reversals changes Specific 7256494.25261893.60141619.077376768.78 provision Provision based on 412930.26697825.431110755.69 credit risk characteristics Total 7669424.51 959719.03 141619.07 8487524.47 （5）By nature Nature Ending carrying amount Beginning carrying amount Prepaid equity investment 1207100000.00 95100000.00 157重庆长安汽车股份有限公司（合并） Notes to the Financial Statements For the Year 2024 Nature Ending carrying amount Beginning carrying amount Land acquisition receivables 557988400.00 Subsidy receivables 287383193.00 586119720.60 Deposits and guarantees 90018699.02 15176743.46 Petty cash 58038264.36 74416322.72 Others 194857567.01 131125069.55 Total 2395386123.39 901937856.33 （6）Top five other receivables by debtor As of December 31 2024 the top five other receivables totaled RMB 2093721633.00 accounting for 87.41% of the total ending balance. 158重庆长安汽车股份有限公司（合并） Notes to the Financial Statements For the Year 2024 (VII) Inventories 1、 Inventory classification Ending balance Beginning balance Provision for Provision for Category decline/contract decline/contract Carrying amount Carrying value Carrying amount Carrying value fulfillment cost fulfillment cost impairment impairment Raw materials 350940520.59 74247850.42 276692670.17 748776600.96 378040520.19 370736080.77 Goods in transit 64421443.50 64421443.50 81586613.21 81586613.21 Consigned processing 15916979.5015916979.5027617777.3727617777.37 materials Work in progress 1148535803.86 43894048.28 1104641755.58 1291990811.53 63870083.00 1228120728.53 Finished goods 15493584058.93 129017809.55 15364566249.38 11890690577.52 202418376.89 11688272200.63 Others 255131560.45 255131560.45 69514296.42 69514296.42 Total 17328530366.83 247159708.25 17081370658.58 14110176677.01 644328980.08 13465847696.93 159重庆长安汽车股份有限公司（合并） Notes to the Financial Statements For the Year 2024 2、 Inventory impairment and contract fulfillment cost impairment Increase during the period Decrease during the period Category Beginning balance Reversals or write- Ending balance Others Others Provision offs Raw materials 378040520.19 23429415.18 327222084.95 74247850.42 Work in progress 63870083.00 18873154.75 38849189.47 43894048.28 Finished goods 202418376.89 77059558.23 150460125.57 129017809.55 Total 644328980.08 119362128.16 516531399.99 247159708.25 The Company assesses whether the cost of inventories exceeds their net realizable value to determine the provision for inventory impairment. Net realizable value is the estimated selling price in the ordinary course of business less estimated costs to complete and sell the inventory. The reversal or write-off of inventory impairment this year is due to an increase in the net realizable value of inventories previously impaired or the sale of such inventories during the year. 160重庆长安汽车股份有限公司（合并） Notes to the Financial Statements For the Year 2024 (VIII) Contract Assets 1、 Contract assets Ending balance Beginning balance Item Carrying Impairment Carrying Carrying Impairment Carrying value amount provision value amount provision Contract 1275581683.29683154858.55592426824.742104221673.68661344707.381442876966.30 assets Total 1275581683.29 683154858.55 592426824.74 2104221673.68 661344707.38 1442876966.30 2、 Significant changes in carrying value during the reporting period Item Change amount Reason for change New energy subsidies 828639990.39 Partial recovery of payments Total 828639990.39 161重庆长安汽车股份有限公司（合并） Notes to the Financial Statements For the Year 2024 3、 Contract assets by impairment provision method Ending balance Beginning balance Category Carrying amount Impairment provision Carrying Carrying amount Impairment provision Carrying value Amount % Amount % value Amount % Amount % Specific provision 1275581683.29 100.00 683154858.55 53.56 592426824.74 2104221673.68 100.00 661344707.38 31.43 1442876966.30 Total 1275581683.29 100.00 683154858.55 592426824.74 2104221673.68 100.00 661344707.38 1442876966.30 162重庆长安汽车股份有限公司（合并） Notes to the Financial Statements For the Year 2024 Specific provision for contract assets: Ending balance Name Impairment Carrying amount Provision rate (%) Basis for provision provision Contract assets 1275581683.29 683154858.55 53.56 Specific provision Total 1275581683.29 683154858.55 4、 Contract asset impairment provision changes during the period Change amount Balance at the Closing Items Reversals or end of last year Provision Reversals Others balance write-offs Contract 661344707.3824737482.172927331.00683154858.55 assets Total 661344707.38 24737482.17 2927331.00 683154858.55 (IX) Non-current Assets Due Within One Year Item Ending balance Beginning balance Long-term receivables due within one year 254821266.90 Large-denomination certificates of deposit 54326849.32 due within one year Total 309148116.22 (X) Other Current Assets Item Ending balance Beginning balance Deductible input VAT 1691898079.82 1393763691.38 Prepaid taxes 443749745.68 336795620.72 Time deposits and others 39308007.51 8004894049.22 Total 2174955833.01 9735453361.32 163重庆长安汽车股份有限公司（合并） Notes to the Financial Statements For the Year 2024 (XI) Long-term Receivables 1、 Long-term receivables Ending balance Beginning balance Item Impairment Impairment Carrying amount Carrying value Carrying amount Carrying value provision provision Long-term receivables 1783748868.29 1783748868.29 Subtotal 1783748868.29 1783748868.29 Less: Portion due within one 254821266.90254821266.90 year Total 1528927601.39 1528927601.39 (XII) Long-term Equity Investments 1、 Long-term equity investments Impairment provision Changes during the period Impairment provision Investment income Investee Beginning balance Additional Other comprehensive Other equity Ending balance Disposal under equity Dividends declared Impairment provision Others investment income adjustment changes at beginning method at end 1．Joint ventures Nanchang Jiangling Holding Co. Ltd. 2106206520.20 313351270.08 1193152.92 2420750943.20 Changan Mazda Automobile Co.Ltd. 878239492.13 -144273889.67 733965602.46 164重庆长安汽车股份有限公司（合并） Notes to the Financial Statements For the Year 2024 Impairment provision Changes during the period Impairment provision Investment income Investee Beginning balance Additional Other comprehensive Other equity Ending balance Disposal under equity Dividends declared Impairment provision Others investment income adjustment changes at beginning method at end Changan Mazda Engine Co. Ltd. 805005706.401506045.10806511751.50 Changan Ford Automobile Co.Ltd. 712215024.57 712215024.57 Subtotal 3789451718.73882798450.081193152.924673443321.73 2．Associates Chongqing Changan Kuayue Automobile Co.Ltd. 228765251.64 15760452.33 -3430000.00 241095703.97 Changan Automobile Financing Co.Ltd 3041392973.86 352498662.97 -94588250.82 3299303386.01 Nanjing Chelai Travel Technology Co.Ltd. 584824.65 -258011.64 326813.01 Hunan Guoxin Semiconductor Technology Co.Ltd. 28502232.09 731114.48 -1064179.49 28169167.08 Nanjing Leading Equity Investment Management Co. Ltd. 2645793326.69 473124694.92 3118918021.61 (LimitedPartnership) ） Nanjing Leading Equity Investment Partnership 1107400.12 -6679.24 1100720.88 Zhongqi Chuangzhi Technology Co.Ltd. 448515220.54 -18766519.68 429748700.86 Chongqing Changxin Zhiqi Private Equity Investment Fund Partnership 204518396.38 20090000.00 51626019.73 276234416.11 (Limited Partnership) Anhe (Chongqing) Equity Investment Fund Management 61692352.41 369799.56 62062151.97 Co. Ltd.Avatr Technology (Chongqing) Co. Ltd. 2295710259.79 4300474961.00 -1707608134.64 161011.66 9130235.56 4897868333.37 165重庆长安汽车股份有限公司（合并） Notes to the Financial Statements For the Year 2024 Impairment provision Changes during the period Impairment provision Investment income Investee Beginning balance Additional Other comprehensive Other equity Ending balance Disposal under equity Dividends declared Impairment provision Others investment income adjustment changes at beginning method at end Chongqing Chang'an Chuangxin Private Equity Investment Fund Partnership 70104473.99 68813333.00 24104733.13 163022540.12 (Limited Partnership) Chongqing Changyu Private Equity Investment Fund Partnership 69600000.00 -926505.88 68673494.12 (Limited Partnership) Hangzhou Chelizi Intelligent Technology Co. 1111663.20 -340002.08 771661.12 Ltd.Western Car Network (Chongqing) Co. Ltd. 5183910.52 379540.80 5563451.32 Anhe (Chongqing) Private Equity Investment Fund Management 5970815.86 923653.89 6894469.75 Co. Ltd.Chongqing Changxian Intelligent Technology Co. 105033367.07 11044986.33 116078353.40 Ltd Changan Ford Automobile Co.Ltd. 67713664.93 64331740.38 132045405.31 Chenzhi Anqi (Chongqing) Recycling Technology Co. 10800000.00 4724.73 10804724.73 Ltd.Master Changan Motors Limited 43377199.666052059.91-5967137.6143462121.96 Chongqing Anda Semiconductor Co. Ltd. 45009157.18 -427699.09 44581458.09 Chongqing Wutong Chelian Technology Co.Ltd. 79781303.57 99438.95 79880742.52 Times FAW Power Battery Co. Ltd. 276006999.87 58974934.18 334981934.05 Era Chang'an Power Battery Co. Ltd 342065472.72 343000000.00 -194420683.31 490644789.41 166重庆长安汽车股份有限公司（合并） Notes to the Financial Statements For the Year 2024 Impairment provision Changes during the period Impairment provision Investment income Investee Beginning balance Additional Other comprehensive Other equity Ending balance Disposal under equity Dividends declared Impairment provision Others investment income adjustment changes at beginning method at end Subtotal 9997940266.74 4812778294.00 -862727679.27 -5806125.95 9130235.56 -99082430.31 13852232560.77 Total 13787391985.47 4812778294.00 20070770.81 -4612973.03 9130235.56 -99082430.31 18525675882.50 167重庆长安汽车股份有限公司（合并） Notes to the Financial Statements For the Year 2024 (XIII) Other equity instrument investments 1、 Other equity instrument investment situation The cumulative gains The cumulative losses Losses included in Reasons for designating Gains included in other included in other included in other The dividend income Balance at the other comprehensive as financial assets at Items Closing balance comprehensive income comprehensive income comprehensive income recognized in this end of last year income for the current fair value through other for the current period as of the end of this as of the end of this period period comprehensive income period period China South Industries Unlisted equity Group Finance Co. 351900000.00 335540000.00 16360000.00 194879200.00 instruments Ltd.National Innovation Unlisted equity Center of Intelligent 58000000.00 83000000.00 25000000.00 8000000.00 instruments and connected Vehicles Guolian Automobile Unlisted equity Power Battery Research 30390000.00 39590000.00 9200000.00 9610000.00 instruments Institute Co.Ltd.China South Industries Unlisted equity Financial Leasing Co. 38180000.00 28300000.00 9880000.00 7628000.00 instruments Ltd. 168重庆长安汽车股份有限公司（合并） Notes to the Financial Statements For the Year 2024 The cumulative gains The cumulative losses Losses included in Reasons for designating Gains included in other included in other included in other The dividend income Balance at the other comprehensive as financial assets at Items Closing balance comprehensive income comprehensive income comprehensive income recognized in this end of last year income for the current fair value through other for the current period as of the end of this as of the end of this period period comprehensive income period period Zhong Fa Lian Unlisted equity 14801858.7214801858.726198141.2831916267.50 Investment Co. Ltd. instruments CAERI(Beijing) automobile Lightweight Unlisted equity 3252414.812958223.99294190.82252414.8174412.00 Technology Research instruments Institution Co. Ltd.Total 496524273.53 504190082.71 26534190.82 34200000.00 210759614.81 15808141.28 31990679.50 169重庆长安汽车股份有限公司（合并） Notes to the Financial Statements For the Year 2024 (XIV) Investment property 1、 Investment properties using the cost measurement model Items Buildings Total 1．Original cost （1）Balance at the end of last year 10050100.00 10050100.00 （2）Increase in the current period （3）Decrease in the current period （4）Balance at the end of the period 10050100.00 10050100.00 2．Accumulated depreciation and accumulated amortization （1）Balance at the end of last year 3854096.52 3854096.52 （2）Increase in the current period 226711.56 226711.56 —Provision or amortization 226711.56 226711.56 （3）Decrease in the current period （4）Balance at the end of the period 4080808.08 4080808.08 3．Impairment provision （1）Balance at the end of last year （2）Increase in the current period （3）Decrease in the current period （4）Balance at the end of the period 4．Carrying amount （1）Closing balance of carrying amount 5969291.92 5969291.92 （2）Carrying amount at the end of last year 6196003.48 6196003.48 (XV) Fixed assets 1、 Fixed assets and disposal of fixed assets Balance at the end of last Items Closing balance year Fixed assets 21773526063.55 19994084908.14 Total 21773526063.55 19994084908.14 170重庆长安汽车股份有限公司（合并） Notes to the Financial Statements For the Year 2024 2、 Details of fixed assets Transportation Items Buildings Machinery and equipment Other Equipment Total equipment 1．Original carrying amount （1）Balance at the end of last 10402849881.7028090256805.161669155485.7910398235511.8650560497684.51 year （2）Increase in the period 1940690306.29 2929384604.41 13997105.98 993256897.88 5877328914.56 —Purchase 1729510417.60 336994592.30 9809628.36 15891677.45 2092206315.71 —Transferred from 205884145.632592003163.114187477.62977358585.733779433372.09 construction in progress —Exchange rate 5295743.06386849.006634.705689226.76 fluctuation （3）Decrease in the period 1049094368.27 2792863817.74 1390322451.97 962747632.54 6195028270.52 —Disposal or scrapping 1049094368.27 2357563890.46 1390322451.97 943296238.22 5740276948.92 —Government grants 434613697.28 19251009.80 453864707.08 —Exchange rate 686230.00200384.52886614.52 fluctuation （4）Closing balance 11294445819.72 28226777591.83 292830139.80 10428744777.20 50242798328.55 2．Accumulated depreciation 171重庆长安汽车股份有限公司（合并） Notes to the Financial Statements For the Year 2024 Transportation Items Buildings Machinery and equipment Other Equipment Total equipment （1）Balance at the end of last 3252045432.7317904036679.47770934918.455827737532.1027754754562.75 year （2）Increase in the period 584512771.19 1749750305.93 185359886.78 502063712.65 3021686676.55 —Provision 584458172.59 1748904015.77 185359886.78 502057179.96 3020779255.10 —Exchange rate 54598.60846290.166532.69907421.45 fluctuation （3）Decrease in the period 676950793.66 2409721699.09 783070455.12 820262796.95 4690005744.82 —Disposal or scrapping 676950793.66 2409078704.12 783070455.12 820141927.47 4689241880.37 —Exchange rate 642994.97120869.48763864.45 fluctuation （4）Closing balance 3159607410.26 17244065286.31 173224350.11 5509538447.80 26086435494.48 3．Provision for impairment （1）Balance at the end of last 63168825.182319193144.5033357247.40395938996.542811658213.62 year （2）Increase in the period 299928.06 47876023.65 74144.87 18910751.54 67160848.12 —Provision 299928.06 47876023.65 74144.87 18910751.54 67160848.12 （3）Decrease in the period 1222757.40 321022414.63 32240600.40 141496518.79 495982291.22 —Disposal or scrapping 1222757.40 321022414.63 32240600.40 141496518.79 495982291.22 172重庆长安汽车股份有限公司（合并） Notes to the Financial Statements For the Year 2024 Transportation Items Buildings Machinery and equipment Other Equipment Total equipment （4）Closing balance 62245995.84 2046046753.52 1190791.87 273353229.29 2382836770.52 4．Carrying amount （1）Closing balance of carrying 8072592413.628936665552.00118414997.824645853100.1121773526063.55 amount （2）Carrying amount at the end 7087635623.797867026981.19864863319.944174558983.2219994084908.14 of last year Note: In the year 2024 the company adjusted certain production lines and discontinued vehicle production lines that are at the end of their life cycles.The relevant assets have shown signs of impairment after assessment. Given that the recoverable amount of these assets is lower than their carrying value an impairment charge of 671608 million yuan has been made for this period. 173重庆长安汽车股份有限公司（合并） Notes to the Financial Statements For the Year 2024 3、 Temporarily idle fixed assets As of December 31 2024 fixed assets with a Carrying amount of RMB 136677753.98 (December 31 2023: RMB 187074047.38) are temporarily idle due to product upgrading and other reasons. 4、 The situation of fixed assets leased out through operating leases Original carrying Provision for Items Accumulated depreciation Carrying amount l amount impairment Bulidings 3152745145.40 974059306.67 13971205.80 2164714632.93 5、 Fixed assets situation without property rights certificate As of December 31 2024 the Company has no fixed assets with uncompleted property rights certificates.(XVI) Construction in progress 1、 Construction in progress and construction materials Closing balance Balance at the end of last year Items Provision for Provision for Book balance Carrying amount Book balance Carrying amount impairment impairment Construction 1624245622.4727861352.871596384269.601944108183.5629762823.731914345359.83 in progress Total 1624245622.47 27861352.87 1596384269.60 1944108183.56 29762823.73 1914345359.83 2、 Details of construction in progress Closing balance Balance at the end of last year Items Provision for Provision for Book balance Carrying amount Book balance Carrying amount impairment impairment Production line construction and 1070073195.24 1070073195.24 626139410.60 626139410.60 technical 174重庆长安汽车股份有限公司（合并） Notes to the Financial Statements For the Year 2024 Closing balance Balance at the end of last year Items Provision for Provision for Book balance Carrying amount Book balance Carrying amount impairment impairment transformation project engineering construction 101071006.57 101071006.57 750986351.54 750986351.54 project Engine technical transformation 30174549.42 20921684.06 9252865.36 204550269.22 20921684.06 183628585.16 project relocation for environmental 59586596.48 59586596.48 protection project Others 422926871.24 6939668.81 415987202.43 302845555.72 8841139.67 294004416.05 Total 1624245622.47 27861352.87 1596384269.60 1944108183.56 29762823.73 1914345359.83 175重庆长安汽车股份有限公司（合并） Notes to the Financial Statements For the Year 2024 3、 Movements of significant construction in progress for the period Accumulated investment in Of which: amount Interest Amount transferred Project Accumulated Budgeted Balance at the end Increase in the Other decreases project as a of interest capitalized rate Items in fixed Assets for Closing balance progress amount of interest Sources of fund amount of last year period for the period percentage of capitalized for the for the period the period （%） capitalized total budget period （%） （%） Production line construction and Self-raised funds technical 6843112449.78 626139410.60 1978146484.29 1534212699.65 1070073195.24 68.88 68.88 and financing transformation project engineering construction 6291360000.00 750986351.54 798353027.46 1448268372.43 101071006.57 88.06 88.06 Self-raised fund project Engine technical transformation 444200000.00 204550269.22 139797669.34 314173389.14 30174549.42 70.73 70.73 Self-raised fund project 176重庆长安汽车股份有限公司（合并） Notes to the Financial Statements For the Year 2024 Accumulated investment in Of which: amount Interest Amount transferred Project Accumulated Budgeted Balance at the end Increase in the Other decreases project as a of interest capitalized rate Items in fixed Assets for Closing balance progress amount of interest Sources of fund amount of last year period for the period percentage of capitalized for the for the period the period （%） capitalized total budget period （%） （%） relocation for environmental 1912510000.00 59586596.48 18930945.62 78517542.10 100.00 100.00 Self-raised fund protection project Self-raised funds Others 302845555.72 524342684.29 404261368.77 422926871.24 and financing Total 1944108183.56 3459570811.00 3779433372.09 1624245622.47 177重庆长安汽车股份有限公司（合并） Notes to the Financial Statements For the Year 2024 4、 The movement of impairment for construction in progress Balance at the changes in the current period Closing reason for Items end of last Provision Write-off Others balance provision year Engine technical 20921684.0620921684.06 transformation project Others 8841139.67 1901470.86 6939668.81 Total 29762823.73 1901470.86 27861352.87 (XVII) Right-of-use assets 1、 Details of construction in progress right-of-use assets Machinery and Items Buildings Total equipment 1．Original carrying amount （1）Balance at the end of 338339110.19338339110.19 last year （2）Increase in the period 166609758.77 14150442.47 180760201.24 —Additional lease 166609758.77 14150442.47 180760201.24 （3）Decrease in the period 91719147.28 91719147.28 —Disposal 91719147.28 91719147.28 （4）Closing balance 413229721.68 14150442.47 427380164.15 2．Accumulated depreciation （1）Balance at the end of 128858434.15128858434.15 last year （2）Increase in the period 99922444.15 2721238.94 102643683.09 —Provision 99922444.15 2721238.94 102643683.09 （3）Decrease in the period 77419794.84 77419794.84 —Disposal 77419794.84 77419794.84 178重庆长安汽车股份有限公司（合并） Notes to the Financial Statements For the Year 2024 Machinery and Items Buildings Total equipment （4）Closing balance 151361083.46 2721238.94 154082322.40 3．Provision for impairment （1）Balance at the end of last year （2）Increase in the period —Provision （3）Decrease in the period —Disposal （4）Closing balance 4．Carrying amount （1）Closing balance of 261868638.2211429203.53273297841.75 carrying amount （2）Opening balance of 209480676.04209480676.04 carrying amount 179重庆长安汽车股份有限公司（合并） Notes to the Financial Statements For the Year 2024 (XVIII) Intangible assets 1、 Details of construction in intangible assets Items Land use rights Software use rights Trademark use rights Non-patent technology Patent technology Total 1．Original carrying amount （1）Balance at the 2337635635.46882238600.762624669183.7818444521672.2785581514.7024374646606.97 end of last year （2）Increase in the 379320000.0043434638.153110914.024126898912.994552764465.16 period —Purchase 379320000.00 43387043.91 3110914.02 19031915.14 444849873.07 —Internal research and 4107866997.85 4107866997.85 development —Exchange 47594.2447594.24 rate fluctuation （3）Decrease in the 237125400.5823978198.009907.85228712530.19489826036.62 period —Disposal 237125400.58 23602922.58 228712530.19 489440853.35 180重庆长安汽车股份有限公司（合并） Notes to the Financial Statements For the Year 2024 Items Land use rights Software use rights Trademark use rights Non-patent technology Patent technology Total —Exchange 375275.429907.85385183.27 rate fluctuation （4）Closing 2479830234.88901695040.912627770189.9522342708055.0785581514.7028437585035.51 balance 2．Accumulated amortization （1）Balance at the 513880306.26762030686.88432976863.447107014737.0515685994.988831588588.61 end of last year （2）Increase in the 57920199.7747643604.17241330428.212327331382.718558151.452682783766.31 period —Provision 57920199.77 47598182.01 241330428.21 2327331382.71 8558151.45 2682738344.15 —Exchange 45422.1645422.16 rate fluctuation （3）Decrease in the 121038001.3124042208.264245.06208478077.32353562531.95 period —Disposal 121038001.31 23602922.58 208478077.32 353119001.21 —Exchange 439285.684245.06443530.74 rate fluctuation 181重庆长安汽车股份有限公司（合并） Notes to the Financial Statements For the Year 2024 Items Land use rights Software use rights Trademark use rights Non-patent technology Patent technology Total （4）Closing 450762504.72785632082.79674303046.599225868042.4424244146.4311160809822.97 balance 3．Provision for impairment （1）Balance at the 23617923.1719916416.63453960028.77497494368.57 end of last year （2）Increase in the 2464800.008749717.5911214517.59 period —Provision 2464800.00 8749717.59 11214517.59 （3）Decrease in the 3783599.853783599.85 period —Disposal 3783599.85 3783599.85 （4）Closing 23617923.1722381216.63458926146.51504925286.31 balance 4．Carrying amount （1）Closing balance of carrying 2029067730.16 92445034.95 1931085926.73 12657913866.12 61337368.27 16771849926.23 amount 182重庆长安汽车股份有限公司（合并） Notes to the Financial Statements For the Year 2024 Items Land use rights Software use rights Trademark use rights Non-patent technology Patent technology Total （2）Opening balance of carrying 1823755329.20 96589990.71 2171775903.71 10883546906.45 69895519.72 15045563649.79 amount Note: After evaluation for the year 2024 considering the recoverable amount of the related assets is lower than the carrying value of the assets this period Provision impairment amounts to 112145 million yuan. 183重庆长安汽车股份有限公司（合并） Notes to the Financial Statements For the Year 2024 (XIX) Goodwill 1、 Movements in goodwill Names of investees or Increase for the period Decrease for the period Balance at the items By business Closing balance end of last year Others Disposal Others resulting in goodwill combination Original carrying amount Nanjing Changan 73465335.0073465335.00 Automobile Co. Ltd.Hebei Changan 9804394.009804394.00 Automobile Co. Ltd.Deep Blue Automotive 1800926049.161800926049.16 Technology Co. Ltd.Subtotal 1884195778.16 1884195778.16 Provision for impairment Nanjing Changan 73465335.0073465335.00 Automobile Co. Ltd.Subtotal 73465335.00 73465335.00 Carrying amount 1810730443.16 1810730443.16 Note: During the impairment test for goodwill the Company compares the Carrying amount of the related assets or asset groups (including goodwill) with their recoverable amounts. If the recoverable amount is lower than the Carrying amount the relevant difference is recognized in the current period's profit or loss.In 2024 when conducting an impairment test on the goodwill formed from the business combination of Shenlan Automobile Technology Co. Ltd. our company regarded the asset group containing the goodwill as a whole. At the end of the year the present value of the expected future cash flows of such asset group was taken as its recoverable amount. The management engaged an independent third party Sichuan Tianjian Huaheng Assets Appraisal Co. Ltd. to assess the recoverable amount of such asset group. The future cash flows were calculated based on the financial budgets for the years from 2025 to 2032 approved by the management. The key assumptions used for calculating the present value of the expected future cash 184重庆长安汽车股份有限公司（合并） Notes to the Financial Statements For the Year 2024 flows include: based on the past performance of the asset group and market expectations the growth rate of sales revenue during the forecast period and the growth rate of sales revenue during the stable period are both 0%; and the pre-tax discount rate is 11.37%. According to the relevant assessments and tests at the end of the year the recoverable amount of such asset group was greater than its carrying value and there were no indications of impairment.(XX) Long-term deferred expenses Balance at the Increase in the Amortisation Other Closing Items end of last period for the period decreases balance year Premium for extended 21709036.17 6631516.77 15077519.40 warranty Others 2453183.89 1022005.83 1178595.41 641665.94 1654928.37 Total 24162220.06 1022005.83 7810112.18 641665.94 16732447.77 (XXI) Deferred tax assets and deferred tax liabilities 1、 Deferred tax assets which are not offset Closing balance Balance at the end of last year Deductible Deductible Items Deferred tax Deferred tax temporary temporary assets assets differences differences Provision for 2812780308.55427610261.043326010289.07505667423.10 asset impairment Accrued expenses and contingent 11361903139.00 1720368405.84 9745432595.40 1478634793.00 liabilities Unpaid tech development 201717814.00 30257672.10 108882829.52 16332424.43 expense 185重庆长安汽车股份有限公司（合并） Notes to the Financial Statements For the Year 2024 Closing balance Balance at the end of last year Deductible Deductible Items Deferred tax Deferred tax temporary temporary assets assets differences differences andadvertisement expense deferred income 3015492016.33 492368621.35 3143730047.41 516280314.00 Unpaid salary and 6164872452.88936046685.595069078308.78762158961.20 bonus and others Total 23556765730.76 3606651645.92 21393134070.18 3279073915.73 2、 Deferred tax liabilities which are not offset Closing balance Balance at the end of last year Taxable Taxable Items Deferred tax Deferred tax temporary temporary liabilities liabilities differences differences Available-for-sale financial assets on the changes in 250964630.1837644694.53271136632.2240670494.83 fair value recorded in capital reserve Fair value adjustment of business 8068028361.061210204254.169077843422.401361676513.36 combination not under common control Long-term equity 1596988035.55239548205.331053139619.28157970942.89 investment Others 2572489279.25 389709175.51 234662947.30 36576889.00 Total 12488470306.04 1877106329.53 10636782621.20 1596894840.08 186重庆长安汽车股份有限公司（合并） Notes to the Financial Statements For the Year 2024 3、 Deferred tax assets or liabilities presented at the net amount after offsetting Closing balance Balance as at the end of last year Offset amount of Balance of deferred Offset amount of Balance of deferred Items deferred income income tax assets or deferred income tax income tax assets or tax assets and liabilities after assets and liabilities liabilities after offset liabilities offset Deferred tax assets 42391398.35 3564260247.57 30819858.08 3248254057.65 Deferred tax 42391398.351834714931.1830819858.081566074982.00 liabilities 4、 Details of unrecognized deferred income tax assets Balance at the end of Items Closing balance last year The deductible temporary difference 1537577954.97 1764330466.02 The deductible tax loss 11267351181.99 10207352860.58 Total 12804929136.96 11971683326.60 5、 Deductible tax losses that are not recognized as deferred tax assets will expire in the following years Balance at the end of Year Closing balance Notes last year 20241026714782.44 20251675980498.871484227541.07 20262469603797.302622637735.99 20272020139471.492162063388.55 20282888007630.832911709412.53 2029 and beyond 2213619783.50 Total 11267351181.99 10207352860.58 187重庆长安汽车股份有限公司（合并） Notes to the Financial Statements For the Year 2024 (XXII) Other non-current assets Closing balance Balance at the end of last year Provision Provision Items Carrying Book balance for Carrying amount Book balance for amount impairment impairment Certificates of deposit 3250000000.003250000000.00 and time deposit Advance payment for 455745345.02455745345.02450000000.00450000000.00 project construction Total 3705745345.02 3705745345.02 450000000.00 450000000.00 188重庆长安汽车股份有限公司（合并） Notes to the Financial Statements For the Year 2024 (XXIII) Assets with restricted ownership or use rights Closing The end of last year Items Type of Circumstances Type of Circumstances Book balance Carrying amount Book balance Carrying amount restriction of restriction restriction of restriction Security deposit Security deposit Security deposit Security deposit Monetary funds 907719149.74 907719149.74 945084846.77 945084846.77 and others and others and others and others Notes receivable 6569473317.00 6569473317.00 Bill pledge Bill pledge 7309419058.87 7309419058.87 Bill pledge Bill pledge Total 7477192466.74 7477192466.74 8254503905.64 8254503905.64 189重庆长安汽车股份有限公司（合并） Notes to the Financial Statements For the Year 2024 (XXIV) Short-term loans 1、 Classification of short-term loans Balance at the end of last Items Closing balance year Credit loan 40036055.69 30039416.74 Total 40036055.69 30039416.74 Note: As of December 31 2024 the annual interest rate for the aforementioned loan is 1.90%-3.30%.As of December 31 2024 there are no overdue short-term loans.(XXV) Notes payable Balance at the end of last Category Closing balance year Commercial acceptance bill 32776976747.35 34512997041.12 Bank acceptance bill 2033628765.26 2943672886.95 Total 34810605512.61 37456669928.07 (XXVI) Accounts payable 1、 Accounts payable Balance at the end of last Items Closing balance year Accounts payable for goods 43835671129.12 38289947321.45 Total 43835671129.12 38289947321.45 Notes：As of December 31 2024 there were no significant accounts payable with an aging period of more than one year.(XXVII) Advances from customers 1、 Advances from customers 190重庆长安汽车股份有限公司（合并） Notes to the Financial Statements For the Year 2024 Balance at the end of last Items Closing balance year Advance rental receipts 477390.93 686755.00 Total 477390.93 686755.00 (XXVIII) Contract liabilities 1、 Contract liabilities Balance at the end of last Items Closing balance year Advance payment 9559537581.14 6780177101.71 Advance service payment 1328359414.35 1143615751.06 Total 10887896995.49 7923792852.77 (XXIX) Payroll payable 1、 Payroll payable Balance at the end Increase for Decrease for Items Closing balance of last year the period the period Short-term benefits 2645581324.21 11932353304.02 11468077163.24 3109857464.99 Post-employment benefits – 87255844.661039909849.661032851021.4294314672.90 defined contribution scheme Termination 17824168.3953249792.2965465144.705608815.98 benefits Total 2750661337.26 13025512945.97 12566393329.36 3209780953.87 2、 Short term salary benefits 191重庆长安汽车股份有限公司（合并） Notes to the Financial Statements For the Year 2024 Balance at the end Items Increase for Decrease for Closing balance of last year （1）Salary bonus 2170965985.999433071770.279068075354.912535962401.35 allowance and subsidy （2）Staff welfare 20125393.92 437190415.28 436127006.44 21188802.76 （3）Social insurance 32862900.03 699183608.62 697677931.78 34368576.87 Including: Medical 20183997.44616492485.11615087107.5421589375.01 insurance Work-related 10754834.2663586546.3363615879.8910725500.70 injury insurance Maternity 1924068.333698410.323680410.321942068.33 insurance Others 15406166.86 15294534.03 111632.83 （4）Housing provident 22920911.36750161578.62751937048.3121145441.67 fund （5）Labour union expenses and employee 398706132.91 612745931.23 514259821.80 497192242.34 education expenses Total 2645581324.21 11932353304.02 11468077163.24 3109857464.99 3、 Defined contribution scheme Balance at the Closing Items Increase for Decrease for end of last year balance Basic pension insurance 77888132.00 1008206277.46 1001149133.00 84945276.46 Unemployment 9367712.6631703572.2031701888.429369396.44 insurance Total 87255844.66 1039909849.66 1032851021.42 94314672.90 (XXX) Taxes payable 192重庆长安汽车股份有限公司（合并） Notes to the Financial Statements For the Year 2024 Balance at the end of last Items Closing balance year Value-added tax 651591146.50 366815941.84 Consumption tax 320098460.23 307949880.80 Corporate income tax 197097687.96 1136075075.53 Urban maintenance and construction 75909710.2551726243.42 tax and educational surtax Others 283885526.69 66156765.79 Total 1528582531.63 1928723907.38 (XXXI) Other payables Balance at the end of last Items Closing balance year Other payables 6407775538.76 5880882512.97 Total 6407775538.76 5880882512.97 1、 Other payables Presented by nature of the payments Items Closing balance Balance at the end of last year Purchase and construction of fixed assets 1763288908.261550681604.04 intangible assets and engineering deposits Customer and supplier margin 919342648.61 874043416.71 Storage fees and freight 740108278.96 488072948.00 Advertisement fees 623231036.19 648229494.43 Maintenance fees 267001396.64 295480247.86 Treasury stock repurchase 169261662.73 382277095.96 Advance appropriation of national subsidies 124313570.00 138398550.00 Advanced receipt of land and factory building 150000000.00 disposal fees Others 1801228037.37 1353699155.97 Total 6407775538.76 5880882512.97 193重庆长安汽车股份有限公司（合并） Notes to the Financial Statements For the Year 2024 (XXXII) Non-current liability within 1 year Balance at the end of last Items Closing balance year Long-term loan within 1 year 36000000.00 4000000.00 A defined benefit plan maturing within 972000.001190000.00 1 year Lease liabilities within 1 year 91942461.78 74887042.88 Total 128914461.78 80077042.88 (XXXIII) Other current liabilities Balance at the end of last Items Closing balance year Accrued commercial discount payable 7251765781.00 5277859952.56 Accrued market development expense 1931380802.93 1229871896.85 Accrued technical transfer and 834962725.87712779170.48 development fees Accrued transportation fee 414807693.98 428540512.92 Accrued negative points for fuel 63506766.6976611049.98 consumption Accrued maintenance cost 56134938.45 52021714.94 Others 1955074831.04 1120252102.19 Total 12507633539.96 8897936399.92 (XXXIV) Long-term Loan Balance at the end of last Items Closing balance year Credit loan 36000000.00 72000000.00 Total 36000000.00 72000000.00 Notes：As of December 31 2024 the interest rate for the aforementioned loan is 1.00% 194重庆长安汽车股份有限公司（合并） Notes to the Financial Statements For the Year 2024 (December 31 2023: 1.00%). (XXXV) Bonds Payable 1、 Details of Bonds Payable Balance at the end of last Items Closing balance year Corporate Bonds 999705660.36 999607547.16 Total 999705660.36 999607547.16 195重庆长安汽车股份有限公司（合并） Notes to the Financial Statements For the Year 2024 2、 Changes in bonds payable Issue for Whether Coupon Accrue interest Amortization of Name of Issue Bond Balance at the the Repayment in Closing there is a Face value rate Issue amount based on the face premium or Bond date maturity end of last year current this period balance breach of （%） value discount period contract Science and Technology 1000000000.00 3.00 2022.12 5years 1000000000.00 999607547.16 30000000.00 98113.20 30000000.00 999705660.36 No Innovation Bond Total 1000000000.00 999607547.16 30000000.00 98113.20 30000000.00 999705660.36 196重庆长安汽车股份有限公司（合并） Notes to the Financial Statements For the Year 2024 (XXXVI) Lease liabilities Balance at the end of last Items Closing balance year Lease liabilities 361153870.84 209141440.95 Less：Lease liabilities within 1 year 91942461.78 74887042.88 Total 269211409.06 134254398.07 (XXXVII) Long-term payables Balance at the end of last Items Closing balance year Long-term payables 2028479306.93 804264787.97 Special payables 428048564.78 148181330.60 Total 2456527871.71 952446118.57 1、 Long-term payables Balance at the end of last Items Closing balance year Accounts payable for entrusted 2028479306.93804264787.97 construction project fees Total 2028479306.93 804264787.97 2、 Special payables Balance at the end of Items Increase for Decrease for Closing balance last year Intelligent manufacturing 79118517.26 315407614.00 41603692.93 352922438.33 project Lightweight 6769952.6350000.004957143.271862809.36 design of 197重庆长安汽车股份有限公司（合并） Notes to the Financial Statements For the Year 2024 Balance at the end of Items Increase for Decrease for Closing balance last year automobile structure Others 62292860.71 48994085.32 38023628.94 73263317.09 Total 148181330.60 364451699.32 84584465.14 428048564.78 (XXXVIII) Long-term payroll payable 1、 Long-term payroll payable Balance at the end of last Items Closing balance year I. Post-employment benefits- Defined 23599000.0026880000.00 net liabilities of benefit scheme II. Termination benefits 3094372.65 3534000.00 Total 26693372.65 30414000.00 2、 Defined benefit plan changes （1）Present Value of Defined Benefit Plan Obligations Amount for the current Amount for the previous Items period period 1．Balance at the end of last year 26880000.00 29227000.00 2．Defined benefit costs recognized in the -3310000.00-908000.00 current period's profit or loss （1）Current service cost 61000.00 313000.00 （2）Past service cost -4168000.00 （3）Settlement gains (losses are indicated 55000.00-2161000.00 by “-”) （4）Net interest 742000.00 940000.00 3．Defined benefit costs recognized in other 2180000.00-540000.00 comprehensive income 198重庆长安汽车股份有限公司（合并） Notes to the Financial Statements For the Year 2024 Amount for the current Amount for the previous Items period period （1）Actuarial gains (losses are indicated by 2180000.00-540000.00 “-”) 4．Other changes -2151000.00 -899000.00 （1）Benefits paid -2151000.00 -899000.00 5．Closing balance 23599000.00 26880000.00 Note: In addition to participating in the endowment insurance and unemployment insurance plans managed by the local government our company also provides extra- plan pensions of varying monthly standards and annual condolence money to some retired employees until their death; provides hardship subsidies to retired employees who participated in combat operations; and pays internal early retirement salaries of varying monthly standards to employees on internal early retirement and contributes to their social insurance premiums and housing provident funds until they reach the official retirement age. The contribution amounts for various social insurances and housing provident funds are determined according to the contribution base and contribution rate and the enterprise contribution rate is determined in accordance with the local social insurance contribution policies.The present value of the obligation of this defined benefit plan as of December 31 2024 was determined by Aon Enterprise Solutions(Shanghai) Co. Ltd. using the projected unit credit method. （2）Defined benefit plan net liability (net asset) Amount for the current Amount for the previous Items period period 1．Balance at the end of last year 26880000.00 29227000.00 2．Defined benefit costs included in the -3310000.00-908000.00 current period's profit and loss 3．Defined benefit costs included in Other 2180000.00-540000.00 Comprehensive Income 4．Other changes -2151000.00 -899000.00 5．Closing balance 23599000.00 26880000.00 199重庆长安汽车股份有限公司（合并） Notes to the Financial Statements For the Year 2024 (XXXIX) Provision Balance at the end Reasons for Items Increase for Decrease for Closing balance of last year formation Product quality 5976561810.092334670155.87900131885.297411100080.67 assurance Estimated liability for contract 300479606.70 30349098.49 37281036.42 293547668.77 performance Total 6277041416.79 2365019254.36 937412921.71 7704647749.44 (XL) Deferred income Balance at the end of Items Increase for Decrease for Closing balance last year Related to assets 610407171.08 558273427.08 52133744.00 Among which: Production and 610407171.08558273427.0852133744.00 construction subsidy Related to gains 108433372.44 114408720.00 90778616.80 132063475.64 Among which: R&D 77651164.121356274.1776294889.95 technology subsidy Other 30782208.32114408720.0089422342.6355768585.69 government subsidies Total 718840543.52 114408720.00 649052043.88 184197219.64 (XLI) Other non-current liabilities Balance at the end of last Items Closing balance year Advance received for services 1718489394.88 1497773818.69 Entrusted Loan of China South 500000000.00 Industries Group Finance Co. Ltd. 200重庆长安汽车股份有限公司（合并） Notes to the Financial Statements For the Year 2024 Balance at the end of last Items Closing balance year Total 2218489394.88 1497773818.69 (XLII) Share capital Increase(+)/decrease (-) for the period Shares Balance at the transferred Items Issue of Bonus Closing balance end of last year from Others Subtotal new shares issue reserve Total shares 9917289033.00 -3202973.00 -3202973.00 9914086060.00 Note: In 2024 the change in the company's share capital was due to the cancellation of equity.(XLIII) Capital reserves Balance at the Items Increase for Decrease for Closing balance end of last year Share premium 6804368521.99 323301160.98 8253379.94 7119416303.03 Others 1446919115.71 682764592.38 323301160.98 1806382547.11 Total 8251287637.70 1006065753.36 331554540.92 8925798850.14 Note: In 2024 the increase in Other Capital Reserve was mainly due to the equity changes of Chongqing Chang'an Kaicheng Automotive Technology Co. Ltd.(XLIV) Treasury stock Balance at the Items Increase for Decrease for Closing balance end of last year Treasury stock 382277095.96 213015433.23 169261662.73 Total 382277095.96 213015433.23 169261662.73 Note: In 2024 the decrease in treasury stock is due to the unlocking of equity incentives and the distribution of dividends to the incentive recipients by the company. 201重庆长安汽车股份有限公司（合并） Notes to the Financial Statements For the Year 2024 (XLV) Other comprehensive income Amount for the current period Deduct: amounts Deduct: amounts transferred transferred to Attributable Balance at the end of last to income statement which Attributable to retained earnings which Items Amount before tax for the Less: to minority Closing balance year were recognized in other the Company were period Income tax interests comprehensive income in after tax recognized in other after tax prior period comprehensive income in prior period 1．Other comprehensive income that will not be reclassified to profit 168360416.57 -8652656.26 -1149871.38 -7502784.88 160857631.69 or loss Among which: Changes in the re - measurement of the 355000.00-2180000.00-2180000.00-1825000.00 defined benefit plan Other comprehensive income that cannot be -4219273.731193152.921193152.92-3026120.81 reclassified to profit or loss under the equity method Changes in the fair value of other equity 172224690.30-7665809.18-1149871.38-6515937.80165708752.50 instrument investments 202重庆长安汽车股份有限公司（合并） Notes to the Financial Statements For the Year 2024 Amount for the current period Deduct: amounts Deduct: amounts transferred transferred to Attributable Balance at the end of last to income statement which Attributable to retained earnings which Items Amount before tax for the Less: to minority Closing balance year were recognized in other the Company were period Income tax interests comprehensive income in after tax recognized in other after tax prior period comprehensive income in prior period 2． Other comprehensive income that will be reclassified to -50041632.53-102155806.29-103292640.391136834.10-153334272.92 profit or loss Among which: Other comprehensive income that can be -75815.98-5806125.95-5806125.95-5881941.93 reclassified to profit or loss under the equity method Exchange differences on translating foreign -49965816.55-96349680.34-97486514.441136834.10-147452330.99 currency financial statements Total 118318784.04 -110808462.55 -1149871.38 -110795425.27 1136834.10 7523358.77 203重庆长安汽车股份有限公司（合并） Notes to the Financial Statements For the Year 2024 (XLVI) Special reserves Balance at the Items Increase for Decrease for Closing balance end of last year Safety fund 54323330.34 122922799.10 82232641.06 95013488.38 Total 54323330.34 122922799.10 82232641.06 95013488.38 (XLVII) Surplus reserves Balance at the Items Increase for Decrease for Closing balance end of last year Statutory surplus 4276245864.64 680797165.36 4957043030.00 Total 4276245864.64 680797165.36 4957043030.00 (XLVIII) Undistributed profits Amount for the current Amount for the previous Items period period Undistributed profits at end of last year before 49617932431.7341379965149.07 adjustment Adjustment for undistributed profits at beginning of year (“+” for plus; “-” for less) Undistributed profits at beginning of year after 49617932431.7341379965149.07 adjustment Add: N et profit attributable to owners of the 7321363897.2411327463013.15 Company during the period Less: Withdrawal of statutory surplus reserves 680797165.36 748080862.37 Withdrawal of discretionary surplus reserve Withdrawal of general risk reserve Dividend payable on ordinary shares 3412477663.18 2341414868.12 Ordinary shares dividends transferred to share capital 204重庆长安汽车股份有限公司（合并） Notes to the Financial Statements For the Year 2024 Amount for the current Amount for the previous Items period period Undistributed profits at end of period 52846021500.43 49617932431.73 (XLIX) Operating revenue and cost 1、 Operating revenue and cost Amount for the current period Amount for the previous period Items Revenue Costs Revenue Costs Main 155996379529.44133423991672.62148183136224.90123320905353.48 businesses Other 3736654683.812445031398.833114570422.071869405043.21 businesses Total 159733034213.25 135869023071.45 151297706646.97 125190310396.69 Details of operating revenue： Amount for the current Amount for the previous Items period period Revenue from customer contracts 159490083620.53 150837473020.25 Lease income 242950592.72 460233626.72 Total 159733034213.25 151297706646.97 2、 Revenue situation generated by the contract The revenue situation generated from customer contracts is as follows： Operating revenue Category Amount for the current period Amount for the previous period Type of business： Sales of goods 152192280870.19 145303581062.21 Provision of services and others 7297802750.34 5533891958.04 Total 159490083620.53 150837473020.25 205重庆长安汽车股份有限公司（合并） Notes to the Financial Statements For the Year 2024 Operating revenue Category Amount for the current period Amount for the previous period Classification by the time of goods transfer： Recognition at a specific point in time 158046027665.88 149806264812.48 Recognition over a specific period of 1444055954.651031208207.77 time Total 159490083620.53 150837473020.25 Classification by region： Domestic 127063702246.58 130301011943.81 Overseas 32426381373.95 20536461076.44 Total 159490083620.53 150837473020.25 (L) Tax and surcharges Amount for the current Amount for the previous Items period period Consumption tax 3321502858.56 3689083562.44 City maintenance and construction tax 383677349.65 416207782.33 Educational surcharge 172951765.77 180693475.51 Others 472339452.42 472441461.42 Total 4350471426.40 4758426281.70 (LI) Operating expenses Amount for the current Amount for the previous Items period period Sales service fee 3261764821.64 1767688363.84 Promotion advertising fee 2456180404.33 2685049398.19 Payroll and welfare 985056908.38 754840131.95 Transportation and storage fees 378551852.64 426167063.06 Travelling expenses 172055226.26 128037954.91 Package expenses 84599624.41 34279133.27 206重庆长安汽车股份有限公司（合并） Notes to the Financial Statements For the Year 2024 Amount for the current Amount for the previous Items period period Consulting fee 21558374.68 25208016.75 Training fee 11796111.41 37558797.59 Others 166789089.41 118722690.35 Total 7538352413.16 5977551549.91 (LII) General and administrative expenses Amount for the current Amount for the previous Items period period Payroll and welfare 3032419886.90 2510857635.06 Administrative expenses 551242661.67 533464030.04 Depreciation and amortization 548417580.78 506232270.50 Share-based payments 89968232.48 362576400.00 Traffic expenses 54560945.74 50337862.88 Travelling expenses 32015557.72 31365995.19 Others 92601152.97 102703336.00 Total 4401226018.26 4097537529.67 (LIII) Research and development expenses Amount for the current Amount for the previous Items period period Depreciation and amortization 2571685965.24 2235391711.61 Payroll and welfare 1975412543.02 1751875403.13 Subcontract fee 829642591.23 844870793.73 Material fee 662579044.45 617867191.88 Test fee 153698592.98 186414711.98 Others 312427942.32 343424840.90 Total 6505446679.24 5979844653.23 (LIV) Finance costs 207重庆长安汽车股份有限公司（合并） Notes to the Financial Statements For the Year 2024 Amount for the current Amount for the previous Items period period Interest income 118238961.52 65658308.92 Less: Foreign exchange gain or loss 1160421476.17 1172272116.20 Interest expense 61276842.30 169367527.65 Others 46528359.30 39902539.83 Total -934377313.05 -897343739.80 (LV) Other income Items Amount for the current period Amount for the previous period Government subsidies related to daily activities Among which：Production and 1250740318.87935787265.00 construction subsidies Other government subsidies 874963386.35 708532240.04 Total 2125703705.22 1644319505.04 (LVI) Investment income Amount for the Amount for the Items current period previous period Long-term equity investment gains measured under 36975796.30-2201515632.81 equity method Investment gains from disposal of long-term equity 1.00 investment The investment income of financial asset 2631315.721406842.07 held for trading during its holding period Investment income from disposal of financial assets 10810279.9918106159.85 at fair value through profit and loss of the period Dividend income from remaining investments 31990679.50206042574.04 in other equity instruments 208重庆长安汽车股份有限公司（合并） Notes to the Financial Statements For the Year 2024 Amount for the Amount for the Items current period previous period Investment income arising from business combinations under 5021482128.74 non - common control Others 105250765.95 4890972.21 Total 187658837.46 3050413045.10 (LVII) Fair value change Amount for the Amount for the The source of gains from changes in fair value current period previous period Trading financial assets -27460945.49 -19061189.53 Total -27460945.49 -19061189.53 (LVIII) Impairment loss of credit Amount for the current Amount for the previous Items period period Bad debt for account receivable -205095.94 48168990.90 Bad debt for other receivables 818099.96 -1426874.99 Total 613004.02 46742115.91 (LIX) Impairment loss on assets Amount for the current Amount for the previous Items period period Loss on decline in value of inventories and Loss on impairment of contract 114303418.32 248550585.56 performance costs Impairment of fixed assets 67160848.12 252935096.10 Impairment of contract assets 21810151.17 236406130.60 Impairment of intangible assets 11214517.59 70593040.66 Impairment of construction in progress 5343493.61 209重庆长安汽车股份有限公司（合并） Notes to the Financial Statements For the Year 2024 Amount for the current Amount for the previous Items period period Total 214488935.20 813828346.53 (LX) Gain on disposal of assets Amount included in non- Amount for the Amount for the Items recurring profit or loss for the current period previous period period Gain on disposal of 2466246635.27431533750.492466246635.27 fixed-assets Gain on disposal of 114903423.819461986.74114903423.81 intangible assets Others -30691738.25 -30691738.25 Total 2550458320.83 440995737.23 2550458320.83 (LXI) Non-operating income Amount included in Amount for the Amount for the Items non-recurring profit current period previous period or loss for the period Penalty income and others 155290275.84 169793538.35 155290275.84 Total 155290275.84 169793538.35 155290275.84 (LXII) Non-operating expenses Amount included in Amount for the Amount for the non-recurring profit Items current period previous period or loss for the period Donation 11611789.67 23663690.00 11611789.67 Fines and penalties 6451303.37 4073147.35 6451303.37 Others 3849172.14 336554.48 3982750.49 210重庆长安汽车股份有限公司（合并） Notes to the Financial Statements For the Year 2024 Amount included in Amount for the Amount for the non-recurring profit Items current period previous period or loss for the period Total 21912265.18 28073391.83 22045843.53 (LXIII) Income tax expense 1、 Table of income tax expenses Amount for the current Amount for the previous Items period period Current income tax expense 699569748.76 1450814903.31 Deferred income tax expense -46216369.36 -363517186.79 Total 653353379.40 1087297716.52 2、 Adjustment of accounting profit and income tax expenses Amount for the current Items period Total profit 6757527907.25 Tax at the legal [or applicable] tax rate 1013629186.09 Impact of different tax rates of subsidiaries 30963597.11 Impact of income tax for the period before adjustment -7107931.81 Impact of non-taxable income -116547569.91 Impact of cost expenses and losses not deductible for tax 17096187.50 Impact of deductible loss of deferred income tax assets not -95890139.63 recognized at the beginning of the period Impact of deductible temporary differences and deductible loss of 538109449.95 deferred income tax assets not recognized for the period Additional deduction for technical development expenses -756608114.92 Others 29708715.02 Income tax expenses 653353379.40 211重庆长安汽车股份有限公司（合并） Notes to the Financial Statements For the Year 2024 (LXIV) Earnings per share 1、 Basic earnings per share Basic earnings per share is calculated by dividing the consolidated net profit attributable to the parent company's ordinary shareholders by the weighted average number of ordinary shares issued and outstanding by the company.Amount for the current Amount for the previous Items period period Consolidated net profit attributable to holders 7303882698.8411302856175.79 of ordinary shares of the Company（after adjustment） Weighted average number of ordinary shares 9848634846.839797771495.70 in issue of the Company（after adjustment） Basic earnings per share 0.74 1.15 Including: Basic earnings per share relating to 0.741.15 continuing operations Basic earnings per share relating to discontinued operations 2、 Diluted earnings per share Diluted earnings per share is calculated by dividing the consolidated net profit attributable to the parent company's ordinary shareholders (diluted) by the weighted average number of ordinary shares outstanding (diluted)： Amount for the Amount for the Items current period previous period Consolidated net profit attributable to holders 7321363897.2411327463013.15 of ordinary shares of the Company (diluted) Weighted average number of ordinary shares 9952993354.129985130465.45 in issue of the Company (diluted) Diluted earnings per share 0.74 1.13 Including: Basic diluted earnings per share 0.741.13 relating to continuing operations 212重庆长安汽车股份有限公司（合并） Notes to the Financial Statements For the Year 2024 Amount for the Amount for the Items current period previous period Basic diluted earnings per share relating to discontinued operations (LXV) Cash Flow Statement Items 1、 Cash related to operating activities （1）Other cash received related to operating activities Amount for the Current Amount for the Previous Items Period Period Interest Income 1160421476.17 1172272116.20 Government Subsidies 2045217580.13 1841460063.44 Others 337350625.36 344581255.97 Total 3542989681.66 3358313435.61 （2）Other cash paid related to operating activities Amount for the Current Amount for the Previous Items Period Period Selling Expenses 6527630896.94 5015550964.65 Administrative Expenses 730420318.10 717871224.11 Research and Development Expenses 1958348170.98 1992577538.50 Others 1158959685.17 1344892685.88 Total 10375359071.19 9070892413.14 2、 Cash related to investing activities （1）Other cash received related to investing activities Amount for the Current Amount for the Previous Items Period Period Time deposits and interest 8070026424.80 213重庆长安汽车股份有限公司（合并） Notes to the Financial Statements For the Year 2024 Amount for the Current Amount for the Previous Items Period Period Business combination of Shenlan Automobile 6216944276.29 under non - same - control Total 8070026424.80 6216944276.29 （2）Other cash paid related to investing activities Amount for the Current Amount for the Previous Items Period Period Time deposits and large - value deposits 3304127222.22 8000000000.00 Total 3304127222.22 8000000000.00 3、 Cash related to financing activities （1）Other cash received related to financing activities Amount for the Current Amount for the Previous Items Period Period Cash received from the recovery of acceptance 470003596.92863425006.28 bill margin Total 470003596.92 863425006.28 （2）Other cash paid related to financing activities Amount for the Current Amount for the Previous Items Period Period Cash paid for acceptance bill margin and 384604266.3017925527.40 others Others 143272005.27 65147042.33 Total 527876271.57 83072569.73 （3）Changes in various liabilities arising from financing activities 214重庆长安汽车股份有限公司（合并） Notes to the Financial Statements For the Year 2024 Increase in the Current Period Decrease in the Current Period Balance at the End - of - Items end of the Non - Non - cash period balance previous year Cash Chang Cash Chang cash Changes Changes Bank borrowings and 106039416.74 1060422300.00 38002857.25 592428518.30 612036055.69 interest Other 3412477663.183412477663.18 payables Lease 209141440.95251355989.5999343559.70361153870.84 liabilities (LXVI) Supplementary Information for the Cash Flow Statement 1、 Supplementary Information for the Cash Flow Statement Amount for the Amount for the Supplementary Information Current Period Previous Period 1、Adjusting Net Profit to Cash Flows from Operating Activities Net profit 6104174527.85 9501899040.97 Add: Credit impairment losses 613004.02 46742115.91 Asset impairment provisions 214488935.20 813828346.53 Depreciation of fixed assets. 3020779255.10 2991918878.33 Depreciation and amortization of investment 226711.56226711.56 property Depreciation of right - of - use assets 102643683.09 70896183.37 Amortization of intangible assets 2682738344.15 2232311060.45 Amortization of long -term prepaid expenses 7810112.18 3570664.27 Loss on disposal of fixed assets intangible assets and other long - term assets (gains are presented with a -2550458320.83 -440995737.23 “-” sign) Loss on scrapping of fixed assets (gains are 217084.914891.17 presented with a “-” sign) Loss on fair value changes (gains are presented with 27460945.4919061189.53 a “-” sign) Financial expenses (gains are presented with a “-” -85476391.90156147198.25 sign) 215重庆长安汽车股份有限公司（合并） Notes to the Financial Statements For the Year 2024 Amount for the Amount for the Supplementary Information Current Period Previous Period Investment losses (gains are presented with a "_" -187658837.46-3050413045.10 sign) Decrease in deferred income tax assets (increases are -316006189.92-219254747.14 presented with a "_" sign) Increase in deferred income tax liabilities (decreases 269789820.56-144262439.65 are presented with a "_" sign) Decrease in inventories (increases are presented with -3218353689.82-7706466368.68a “_" sign)Decrease in operating receivables (increases are -9086489039.97-1687114693.11presented with a “_" sign)Increase in operating payables (decreases are 7862898858.9317273366988.13 presented with a "_" sign) Others Net cash flow from operating activities 4849398813.14 19861466237.56 2、Significant investment and financing activities not involving cash receipts and payments Debt converted into capital Convertible corporate bonds maturing within one yea! Obtaining right -of-use assets by assuming lease liabilities 3、Net changes in cash and cash equivalents End - of - period balance of cash 63274376513.00 63925957901.11 Less: Beginning -of- period balance of cash 63925957901.11 52491435047.74 Add: End - of - period balance of cash equivalents Less: Beginning - of - period balance of cash equivalents Net increase in cash and cash equivalents -651581388.11 11434522853.37 2、 Composition of Cash and Cash Equivalents 216重庆长安汽车股份有限公司（合并） Notes to the Financial Statements For the Year 2024 End - of - period Balance at the end of Items balance the previous year 一、Cash 63274376513.00 63925957901.11 Including: Cash on hand 17882.93 35257.05 Digital currency available for immediate payment Bank deposits available for immediate payment 63267781756.86 63902699987.48 Other monetary funds available for immediate 6576873.2123222656.58 payment Funds deposited with the central bank available for payment Deposits with other financial institutions Loans to other financial institutions 二、Cash Equivalents Including: Bond investments maturing within three months 三、End -of _ period balance of cash and cash 63274376513.0063925957901.11 equivalents Including: Cash and cash equivalents held but not available for use by the parent company or othersubsidiaries within the group Monetary funds that are not classified as cash and cash equivalents: Balance at the end of the Reason for not being cash Items End - of - period balance previous year or cash equivalents Bill margin and others Restricted funds unable 907719149.74945084846.77 to be freely withdrawn Total 907719149.74 945084846.77 (LXVII) Foreign Currency Monetary Items 1、 Foreign Currency Monetary Items 217重庆长安汽车股份有限公司（合并） Notes to the Financial Statements For the Year 2024 End - of - period End - of - period RMB Exchange rate Items foreign currency balance after conversion for conversion balance Monetary funds 2024896344.06 Including: US dollars 28852509.98 7.1884 207403382.74 British pounds 3323867.79 9.0765 30169086.00 Euros 21244685.52 7.5257 159881129.82 Japanese yen 170632224.00 0.0462 7888839.61 Russian rubles 257590107.35 0.0661 17015338.66 United Arab Emirates 902893.121.97111779692.63 dirhams Mexican pesos 907319905.75 0.3498 317355685.82 Thai baht 6035588516.20 0.2126 1283403188.78 Accounts receivable 235604230.93 Including: US dollars 30343831.17 7.1884 218123595.98 British pounds 309924.14 9.0765 2813026.46 Mexican pesos 41934692.67 0.3498 14667608.49 Other receivables 95527937.46 Including: US dollars 2560.00 7.1884 18402.30 British pounds 2484169.53 9.0765 22547564.74 Euros 9588095.67 7.5257 72157131.56 Japanese yen 17408320.00 0.0462 804838.86 Accounts payable 433143471.74 Including: US dollars 2179.04 7.1884 15663.81 British pounds 8415.16 9.0765 76380.20 Euros 4432167.94 7.5257 33355166.27 Japanese yen 5903582.00 0.0462 272940.31 Russian rubles 6046749831.37 0.0661 399423321.15 Accounts payable 59903027.97 Including: US dollars 3530.00 7.1884 25375.05 British pounds 870667.50 9.0765 7902613.56 Mexican pesos 148596637.53 0.3498 51975039.36 218重庆长安汽车股份有限公司（合并） Notes to the Financial Statements For the Year 2024 (LXVIII) Leases 1、 As a Lessee Amount for the Current Amount for the Items Period Previous Period Interest expense on lease liabilities 42623899.74 9034012.98 Simplified short - term lease expenses recoanized in the cost of related assets or current 68173260.47 78849902.44 - period profit or loss Simplified low - value asset lease expenses recognized in the cost of related assets or current 5964651.75920517.27 - period profit or loss (excluding short - term lease expenses for low - value assets) Total cash outflows related to leases 122150467.13 98885795.36 The following is the situation of the estimated future annual cash outflows for leases that the Company has committed to but have not yet commenced: Remaining lease term Undiscounted lease payments Within 1 year 152983976.87 1 - 2 years 137414287.00 2 - 3 years 83007712.15 More than 3 years 6378610.46 Total 379784586.48 2、 As a Lessor （1）Operating Leases Amount for the Current Amount for the Period Previous Period Operating lease income 242950592.72 460233626.72 The following is the amount of undiscounted lease receivables that will be received 219重庆长安汽车股份有限公司（合并） Notes to the Financial Statements For the Year 2024 after the balance sheet date: Amount for the Current Amount for the Remaining lease term Period Previous Period Within 1 year 8675240.58 388255072.48 1 - 2 years 17881254.12 260689384.89 2 - 3 years 18120545.58 130967274.89 3 - 4 years 22168456.50 34577303.73 4 - 5 years 24141151.06 26810816.32 More than 5 years 7000144.32 1506050.47 Total 97986792.16 842805902.78 VI、 R & D Expenditure (I) R & D Expenditure Items Amount for the Current Period Amount for the Previous Period Employee compensation 4108202495.09 3556084891.96 Depreciation and 2577828804.032237878184.31 amortization Outsourcing fees 1436710996.83 1216189214.55 Material costs 818426341.74 749129534.46 Testing fees 592734950.61 557428126.11 Other expenses 625240648.15 690840581.50 Total 10159144236.45 9007550532.89 Including: Expensed R & D 6505446679.245979844653.23 expenditure Capitalized R & D 3653697557.213027705879.66 expenditure (II) Development expenditure 220重庆长安汽车股份有限公司（合并） Notes to the Financial Statements For the Year 2024 Amount of increase in the Amount of decrease in the current current period period Balance at the end End -of - period Items Internal of the previous year Recognized as balance development Others Others intangible assets expenditure Automobile 2241820556.703653697557.214107866997.8557718627.391729932488.67 development Sub - total 2241820556.70 3653697557.21 4107866997.85 57718627.39 1729932488.67 Less: Impairment provisions Total 2241820556.70 3653697557.21 4107866997.85 57718627.39 1729932488.67 VII、 Changes in the Scope of Consolidation None VIII、 lnterests in Other Entities (I) Interests in Subsidiaries 1、 Composition of the Enterprise Group Registered Shareholding Ratio Capital (in (%) Main Place of Place of Nature of Method of Name of Subsidiary ten - Business Registration Business Acquisition thousands Direct Indirect of yuan) Chongqing Changan Automobile 142275.64 Chongqing Chongqing Sales 100.00 Establishment International Sales &Service Co. Ltd.Chongqing Changan Vehicle Connectivity 8850.00 Chongqing Chongqing Leasing 100.00 Establishment Technology Co. Ltd.Chongqing Changan 2000.00 Chongqing Chongqing Sales 50.00 Establishment Special-Purpose 221重庆长安汽车股份有限公司（合并） Notes to the Financial Statements For the Year 2024 Registered Shareholding Ratio Capital (in (%) Main Place of Place of Nature of Method of Name of Subsidiary ten - Business Registration Business Acquisition thousands Direct Indirect of yuan) Vehicle Co. Ltd.(Note 1) Chongqing Changan Automobile Customer 3000.00 Chongqing Chongqing Sales 99.00 1.00 Establishment Service Co. Ltd.Chongqing Zhilaidao Research and 2900.00 Chongqing Chongqing 100.00 Establishment New Energy Co. Ltd. Development Chongqing Changan Bologna Research and European Design 1738 Euros Bologna Italy 100.00 Establishment Italy Development Center Co. Ltd.Changan Automobile 2639 Nottingham Nottingham Research and UK R & D Center Co. 100.00 Establishment Pounds UK UK Development Ltd.Beijing Changan Automobile Research and Engineering 100.00 Beijing Beijing 100.00 Establishment Development TechnologyResearch Co. Ltd. 1000 Changan Japan Design Hamamatsu Hamamatsu Research and Japanese 100.00 Establishment Center Co. Ltd. Japan Japan Development Yen Changan USA R & D 154 US Research and Novi USA Novi USA 100.00 Establishment Center Inc. Dollars Development Changan Automobile Investment (Shenzhen) 76488.95 Shenzhen Shenzhen Sales 100.00 Establishment Co. Ltd.Nanjing Changan New 5000.00 Nanjing Nanjing Sales 100.00 Establishment Energy Automobile 222重庆长安汽车股份有限公司（合并） Notes to the Financial Statements For the Year 2024 Registered Shareholding Ratio Capital (in (%) Main Place of Place of Nature of Method of Name of Subsidiary ten - Business Registration Business Acquisition thousands Direct Indirect of yuan) Sales & Service Co.Ltd.Chongqing Anyi Automobile 200.00 Chongqing Chongqing Sales 100.00 Establishment Technology Service Co. Ltd.Xiamen Changan New Energy Automobile 200.00 Xiamen Xiamen Sales 100.00 Establishment Sales & ServiceCo.Ltd.Shanghai Changan Intelligent Mobility 400.00 Shanghai Shanghai Sales 100.00 Establishment Technology Co.Ltd.Chongqing Chehemei 1000.00 Chongqing Chongqing Sales 100.00 Establishment Technology Co. Ltd.Chongqing Changan Kaicheng Automobile 142371.45 Chongqing Chongqing Sales 65.90 Establishment Technology Co. Ltd.Chongqing Changan Research and Automobile Software 9900.00 Chongqing Chongqing 100.00 Establishment Development Technology Co. Ltd.Chongqing Xingzhi 4900.00 Chongqing Chongqing Sales 100.00 Establishment Technology Co. Ltd.Chongqing Changan Research and 9000.00 Chongqing Chongqing 100.00 Establishment Technology Co. Ltd. Development Chongqing Changanxing 2000.00 Chongqing Chongqing Leasing 100.00 Establishment Automobile Co. Ltd. 223重庆长安汽车股份有限公司（合并） Notes to the Financial Statements For the Year 2024 Registered Shareholding Ratio Capital (in (%) Main Place of Place of Nature of Method of Name of Subsidiary ten - Business Registration Business Acquisition thousands Direct Indirect of yuan) Business Nanjing Changan combination under Automobile Co. Ltd. 60181.00 Nanjing Nanjing Manufacturing 84.73 non - common (Note 2) control Business Chongqing Lingyao combination under 133764.00 Chongqing Chongqing Manufacturing 100.00 Automobile Co. Ltd. non - common control Business Deep Blue Automobile combination under 32810.83 Chongqing Chongqing Manufacturing 50.9960 Technology Co. Ltd. non - common control Business Hefei Changan 227500.00 Hefei Hefei Manufacturing 100.00 combination under Automobile Co. Ltd.common control Note 1: The remaining shareholders of Chongqing Changan Special - Purpose Vehicle Co.Ltd. have respectively signed concerted action agreements with our company agreeing to vote in accordance with the voting intention of our company. Therefore our company can exercise control over it and thus it is included in the scope of the consolidated financial statements.Note 2: Our company holds a voting rights proportion of 91.53% in Nanjing Changan Automobile Co. Ltd. The reason for the discrepancy between the shareholding proportion and the voting rights proportion is that some minority shareholders have entrusted our company to exercise their voting rights. 2、 Important non - wholly - owned subsidiaries 224重庆长安汽车股份有限公司（合并） Notes to the Financial Statements For the Year 2024 Profit or Loss Dividends Declared Balance of Minority Attributable to and Distributed to Minority Name of Subsidiary Shareholding Minority Minority Shareholders' Ratio Shareholders in the Shareholders in the Equity at the End Current Period Current Period ofthe Period Deep Blue Automobile 49.0040%-769628814.17-1716458428.95 Technology Co. Ltd 225重庆长安汽车股份有限公司（合并） Notes to the Financial Statements For the Year 2024 3、 Key financial information of important non - wholly - owned subsidiaries End - of - Period Balance Previous Year - end Balance Name of Non -current Non -current Non -current Non -current Subsidiary Current Assets Total Assets Current Liabilities Total Liabilities Current Assets Total Assets Current Liabilities Total Liabilities Assets Liabilities Assets Liabilities Deep Blue Automobile 30719707226.073575291477.0034294998703.0735434906672.982362782481.7837797689154.7619532107979.293335776374.1622867884353.4523372178834.611464812108.7424836990943.35 Technology Co.Ltd Amount for the Current Period Amount for the Previous Period Total Cash Flow from Total Cash Flow from Name of Subsidiary Operating Revenue Net Profit Comprehensive Operating Operating Revenue Net Profit Comprehensive Operating lncome Activities lncome Activities Deep Blue Automobile 37224879706.79-1571558701.01-1571558701.014535241604.7525882512213.36-2998926405.37-2998926405.373338314121.63 Technology Co. Ltd (II) Interests in Joint Arrangements or Associated Enterprises 1、 lmportant Joint Ventures or Associated Enterprises 226重庆长安汽车股份有限公司（合并） Notes to the Financial Statements For the Year 2024 Shareholding Ratio (%) Accounting Treatment for Whether It Has a Strategic Main Place of Place of Nature of Investments in Joint Name of Joint Venture or Associated Enterprise Impact on the Company's Operation Registration Business Direct Indirect Ventures or Associated Activities Enterprises Research and Avita Technology (Chongqing) Co. Ltd. Chongqing Chongqing 40.99 Equity Method Yes Development 227重庆长安汽车股份有限公司（合并） Notes to the Financial Statements For the Year 2024 2、 Key Financial Information of lmportant Joint ventures Enterprises End-of-Period Balance/Current Period Previous Year-end Balance/Previous Period Amount Amount Changan Ford Automobile Co. Ltd. Changan Ford Automobile Co. Ltd.Current Assets 16377739563.80 12331898432.45 Non -current Assets 11762860932.34 13881353746.59 Total Assets 28140600496.14 26213252179.04 Current Liabilities 20644064530.01 21314464718.72 Non-current Liabilities 5834665675.53 5328845420.37 Total Liabilities 26478730205.54 26643310139.09 Minority Shareholders' 132045405.3167713664.93 Equity Shareholders' Equity Attributable to Parent 1529824885.29 -497771624.98 Company Share of Net Assets Calculated Based on 764912442.65 -248885812.49 Shareholding Ratio Adjustment Items -52697418.08 248885812.49 Carrying Value of Equity Investment in Joint 712215024.57 ventures Enterprises Fair Value of Equity Investment in Joint ventures Enterprises with Public Quotations Net Profit 2089573046.44 -2060381529.37 Net Profit from Discontinued Operations Other Comprehensive Income Total Comprehensive 2089573046.44-2060381529.37 Income Dividends Received from Joint ventures Enterprises during the Current Period 3、 Key Financial Information of lmportant Associated Enterprises End-of-Period Balance/Current Period Previous Year-end Balance/Previous Period Amount Amount Avita Technology (Chongqing) Co. Ltd. Avita Technology (Chongqing) Co. Ltd.Current Assets 25259977421.04 10513768163.43 Non -current Assets 3894054546.85 2130278114.28 Total Assets 29154031967.89 12644046277.71 Current Liabilities 18470162928.20 9864279866.61 Non-current Liabilities 2093739703.07 685987794.52 228重庆长安汽车股份有限公司（合并） Notes to the Financial Statements For the Year 2024 End-of-Period Balance/Current Period Previous Year-end Balance/Previous Period Amount Amount Avita Technology (Chongqing) Co. Ltd. Avita Technology (Chongqing) Co. Ltd.Total Liabilities 20563902631.27 10550267661.13 Minority Shareholders' Equity Shareholders' Equity Attributable to Parent 8590129336.62 2093778616.58 Company Share of Net Assets Calculated Based on 3521609422.84 858321512.30 Shareholding Ratio Adjustment Items 1376258910.53 1437388747.49 Carrying Value of Equity Investment in Associated 4897868333.37 2295710259.79 Enterprises Fair Value of Equity Investment in Associated Enterprises with Public Quotations Net Profit -4017985149.27 -3692504949.03 Net Profit from Discontinued Operations Other Comprehensive 647952.32 Income Total Comprehensive -4017337196.95-3692504949.03 Income Dividends Received from Associated Enterprises during the Current Period 4、 Aggregated Financial Information of Insignificant Joint Ventures and Associated Enterprises Previous Year-end End-of-Period Balance/Current Balance/Previous Period Period Amount Amount Joint Ventures: Total Carrying Value of Investments 3961228297.16 3789451718.73 Total Amounts Calculated Based on Shareholding Ratiofor the Following ltems -Net Profit 170583425.51 -247570379.59 -Other Comprehensive Income 1193152.92 -1454051.91 -Total Comprehensive lncome 171776578.43 -249024431.50 229重庆长安汽车股份有限公司（合并） Notes to the Financial Statements For the Year 2024 Previous Year-end End-of-Period Balance/Current Balance/Previous Period Period Amount Amount Associated Enterprises: Total Carrying Value of Investments 8954364227.40 7702230006.95 Total Amounts Calculated Based on Shareholding Ratiofor the Following ltems -Net Profit 844880455.37 341248476.30 -Other Comprehensive Income -5967137.61 -Total Comprehensive lncome 838913317.76 341248476.30 5、 Excess Losses Incurred by Joint Ventures or Associated Enterprises Our company has no obligation to bear additional losses for Chongqing Changan Cross - Vehicle Marketing Co. Ltd. and Jiangling Holdings Co. Ltd. Therefore when excess losses occur only the long - term equity investments are written down to zero and the excess losses related to the investments in the above - mentioned companies are not recognized.IX、 Government Grants (I) TypesAmounts and Presentation ltems of Government Grants 1、 Government Grants Recognized in Current - Period Profit or Loss Government Grants Related to Assets Offset the carrying value of relevant assets ltem of Amount Recognized in Current - Balance Sheet Presentation Amount of Current - Period Period Profit or Loss or ltems Government Grants Prior - Period Amount Amount Offset Against Relevant Cost Expense or Loss Offset against fixed Deferred Income 52133744.00 453864707.08 175548473.12 assets/intangible assets Total 52133744.00 453864707.08 175548473.12 Government Grants Related to Income 230重庆长安汽车股份有限公司（合并） Notes to the Financial Statements For the Year 2024 Presentation ltems for Amounts Recognized Amount Recognized in Current - Period Profit or Loss orOffset in Current -Period Profit or Loss or Offset Against Relevant Cost Expense or Loss Against Relevant CostExpense or Loss Current - Period Amount Prior - Period Amount Offset against Cost of Goods Sold 155062062.07 170360460.12 Offset against Selling Expenses 105264180.00 46703658.08 Offset against Administrative Expenses 17515503.85 13512686.32 Offset against Research and Development 10090801.9086393841.24 Expenses Total 287932547.82 316970645.76 231重庆长安汽车股份有限公司（合并） Notes to the Financial Statements For the Year 2024 2、 Liability ltems Involving Government Grants Amount Amount Amount Offset Amount of New Recognized in Previous Year - Transferred to Against Cost and End - of - Period Related to Assets/ Liability ltems Grants in Current Non -operating Other Changes end Balance Other Income in Expenses in Balance Related to Income Period Income in Current Period Current Period Current Period Deferred 610407171.08 453864707.08 -104408720.00 52133744.00 Related to Assets Income Deferred 108433372.44 10000000.00 90778616.80 104408720.00 132063475.64 Related to Income Income 232重庆长安汽车股份有限公司（合并） Notes to the Financial Statements For the Year 2024 X、 Risks Related to Financial Instruments (I) Types of Risks Arising from Financial Instruments Our company faces various financial risks in the course of its operations: credit risk liquidity risk and market risk (including foreign exchange risk interest rate risk and other price risks). The above - mentioned financial risks and the risk management policies adopted by our company to mitigate these risks are described as follows: 1、 Credit Risk Credit risk refers to the risk that a counter - party fails to fulfill its contractual obligations resulting in financial losses for our company. Our company's credit risk mainly stems from monetary funds notes receivable accounts receivable receivables financing other receivables as well as debt instrument investments measured at fair value through profit or loss that are not included in the scope of impairment assessment.Most of our company's monetary funds are bank deposits placed in state - owned banks and other large - and medium - sized listed banks with good reputations and high credit ratings. We believe that there are no significant credit risks and there is almost no chance of significant losses caused by bank defaults.In addition for notes receivable accounts receivable receivables financing contract assets and other receivables our company has established relevant policies to control credit risk exposure. We assess the creditworthiness of customers based on their financial conditions the likelihood of obtaining guarantees from third parties credit records and other factors such as the current market situation and set appropriate credit periods. We regularly monitor customers' credit records. For customers with poor credit records we will take measures such as sending written collection letters shortening credit periods or canceling credit periods to ensure that the overall credit risk of our company remains within a controllable range. 2、 Liquidity Risk Liquidity risk refers to the risk that an enterprise may experience a shortage of funds when fulfilling its obligations to settle in the form of delivering cash or other financial assets.Our company's policy is to ensure that there is sufficient cash to repay maturing debts. 233重庆长安汽车股份有限公司（合并） Notes to the Financial Statements For the Year 2024 Liquidity risk is centrally controlled by our company's finance department. The finance department ensures that the company has sufficient funds to repay debts under all reasonably foreseeable circumstances by monitoring cash balancesmarketable securities that can be readily liquidated and a rolling forecast of cash flows over the next 12months. At the same time it continuously monitors whether the company complies with the provisions of borrowing agreements and obtains commitments from major financial institutions to provide sufficient standby funds to meet short - term and long - term funding requirements.The financial liabilities of our company are presented below by due date based on undiscounted contractual cash flows: End - of - Period Balance Total ltems Repayable Within 1 Year 1 -2 Years 2 -5 Years Over 5 Years Undiscounted Carrying Amount lmmediately Contract Amount Short -term 40442694.5840442694.5840036055.69 Loans Notes 34810605512.6134810605512.6134810605512.61 Payable Accounts 43835671129.1243835671129.1243835671129.12 Payable Other 6238513876.036238513876.036407775538.76 Payables Non -current Liabilities 188983976.87188983976.87128914461.78 Due within One Year Long -term 451000.0036065000.0036516000.0036000000.00 Loans Lease 137414287.0089386322.61226800609.61269211409.06 Liabilities Long -term 2998964516.852998964516.852028479306.93 Payables 234重庆长安汽车股份有限公司（合并） Notes to the Financial Statements For the Year 2024 End - of - Period Balance Total ltems Repayable Within 1 Year 1 -2 Years 2 -5 Years Over 5 Years Undiscounted Carrying Amount lmmediately Contract Amount Bonds 30000000.0030000000.001030000000.001090000000.00999705660.36 Payable Total 85144668189.21 203479287.00 1119386322.61 2998964516.85 89466498315.67 88556399074.31 Previous Year - end Balance Total ltems Repayable Within 1 Year 1 -2 Years 2 -5 Years Over 5 Years Undiscounted Carrying Amount lmmediately Contract Amount Short -term 30862587.5730862587.5730039416.74 Loans Notes Payable 37456669928.07 37456669928.07 37456669928.07 Accounts 38289947321.4538289947321.4538289947321.45 Payable Other Payables 5592483962.97 5592483962.97 5880882512.97 Non -current Liabilities Due 85021520.1785021520.1780077042.88 within One Year Long -term 772666.6736462000.0036076000.0073310666.6772000000.00 Loans Lease 58380494.0186883614.74145264108.75134254398.07 Liabilities Long -term 970485209.92970485209.92804264787.97 Payables Bonds Payable 30000000.00 30000000.00 1060000000.00 1120000000.00 999607547.16 Total 81485757986.90 124842494.01 1182959614.74 970485209.92 83764045305.57 83747742955.31 3、 Market Risk Market risk of financial instruments refers to the risk that the fair value or future cash 235重庆长安汽车股份有限公司（合并） Notes to the Financial Statements For the Year 2024 flows of financial instruments fluctuate due to changes in market prices including foreign exchange 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 financial instruments fluctuate due to changes in market interest rates.Interest - bearing financial instruments with fixed and floating interest rates expose our company to fair - value interest - rate risk and cash - flow interest - rate risk respectively. Our company determines the proportion of fixed - and floating - rate instruments based on market conditions and maintains an appropriate mix of fixed - and floating - rate instruments through regular reviews and monitoring. When necessary our company uses interest - rate swap instruments to hedge interest - rate risk.The income and operating cash flows of our company are basically unaffected by fluctuations in market interest rates. As of December 31 2024 all of our company's bank borrowings and bonds payable accrue interest at fixed interest rates. Our company does not currently hedge interest - rate risk. （2）Foreign Exchange Risk Foreign exchange risk refers to the risk that the fair value or future cash flows of financial instruments fluctuate due to changes in foreign exchange rates.Our company continuously monitors the scale of foreign currency transactions foreign currency assets and liabilities to minimize the foreign exchange risks it faces.In addition the company may enter into forward foreign exchange contracts or currency swap contracts to hedge foreign exchange risks. During the current and previous periods our company did not enter into any forward foreign exchange contracts or currency swap contracts.The foreign exchange risks faced by our company mainly stem from financial assets and liabilities denominated in US dollars. The amounts of foreign currency financial assets and liabilities translated into RMB are shown as follows: 236重庆长安汽车股份有限公司（合并） Notes to the Financial Statements For the Year 2024 End - of - Period Balance Previous Year - end Balance ltems Other Foreign Other Foreign US Dollar Total US Dollar Total Currencies Currencies Monetary Funds 207403382.74 1817492961.31 2024896344.06 196000760.10 579542997.66 775543757.76 Accounts Receivable 218123595.98 17480634.95 235604230.93 227291127.63 227291127.63 Other Receivables 18402.30 95509535.16 95527937.46 712229.23 52299249.49 53011478.72 Accounts Payable 15663.81 433127807.93 433143471.74 27130.85 134344595.24 134371726.09 Other Payables 25375.05 59877652.92 59903027.97 194566.44 2126996.89 2321563.33 Total 425586419.89 2423488592.27 2849075012.16 424225814.25 768313839.28 1192539653.53 As of December 31 2024 assuming all other variables remain unchanged if the RMB appreciates or depreciates against the US dollar by 5% the company's net profit will increase or decrease by 18087422.85yuan (as of December 31 2023: 18029597.10 yuan). Management believes that 5% reasonably reflects the reasonable range within which the RMB may fluctuate against the US dollar in the next fiscal year. （3）Other Price Risks Other price risks refer to the risks that the fair value or future cash flows of financial instruments fluctuate due to market price changes other than foreign exchange rate risks and interest rate risks.The other price risks of our company mainly stem from various equity instrument investments and there is a risk of price fluctuations in equity instruments.As of December 31 2024 assuming all other variables remain unchanged if the value of equity instruments rises or falls by 5% the company's net profit will increase or decrease by 5115434.10 yuan (as of December 31 2023: net profit of 6831651.16 yuan). Management believes that 5% reasonably reflects the reasonable range within which the value of equity instruments may fluctuate in the next fiscal year.XI、 Disclosure of Fair Value The inputs used in fair - value measurement are classified into three levels: 237重庆长安汽车股份有限公司（合并） Notes to the Financial Statements For the Year 2024 Level 1 inputs are unadjusted quoted prices in active markets for identical assets or liabilities available at the measurement date.Level 2 inputs are inputs other than Level 1 inputs that are directly or indirectly observable for the related assets or liabilities.Level 3 inputs are unobservable inputs for the related assets or liabilities.The level to which a fair - value measurement result belongs is determined by the lowest - level input that is significant to the fair - value measurement as a whole.(I) The ending fair values of assets and liabilities measured at fair value Ending Fair Value Level 1 Fair - Level 2 Fair - Level 3 Fair - ltems Value Value Value Total Measurement Measurement Measurement 一、Continuous Fair - Value Measurement ◆Trading Financial Assets 155013154.45 155013154.45 （1） Equity Instrument 155013154.45155013154.45 Investments ◆Other Equity Instrument 496524273.53496524273.53 Investments 238重庆长安汽车股份有限公司（合并） Notes to the Financial Statements For the Year 2024 (II) For items measured at fair value on a continuous basis at Level 3 reconciliation information between the carrying amounts at the end of the previous year and the end of the current period and sensitivity analysis of unobservable parameters. 1、 Reconciliation Information for ltems Measured at Fair Value on a Continuous Basis at Level 3 Total Gains or Losses in the For assets Purchase lssuance Sale and Settlement Current Period held at the end of the reporting period Previous Year - Transfer to Transfer from Included in End - of - Period ltems Included in unrealized end Balance Level 3 Level 3 Other Balance Profit or Purchase lssuance Sale Settlement gains or losses Comprehensive Loss recognized in Income profit or loss in the current period ◆Other equity 504190082.71-7665809.18496524273.53 instrument investments 239重庆长安汽车股份有限公司（合并） Notes to the Financial Statements For the Year 2024 XII、 Related Parties and Related -Party Transactions (I) Information about the Parent Company of Our Company Equity - Holding Voting - Right Proportion of Proportion of Registered Registered Name of Parent Company Business Nature Parent Parent Company Place Capital Company in in Our Company Our Company (%) (%) Manufacturing and sales China Changan Automobile Beijing of automobiles their 6092273400.00 20.81 20.81 Group Co. Ltd.engines and spare parts Note: The ultimate controlling party of our company is China South industries Group Corporation.(II) Information about Subsidiaries of Our Company Details about the subsidiaries of our company can be found in Note "VIII. interests in Other Entities".(III) Information about Joint Ventures and Associates of Our Company Details about the significant joint ventures and associates of our company can be found in Note "VIII. Interests in Other Entities".(IV) Information about Other Related Parties Name of Other Related Party Relationship with Our Company Chongqing Changan Intelligent Industrial Technology Under the control of the same ultimate Service Co. Ltd. holding company Under the control of the same ultimate Chongqing Changan Industry (Group) Co. Ltd.holding company Under the control of the same ultimate Chongqing Yihong Defense Technology Co. Ltd.holding company 240重庆长安汽车股份有限公司（合并） Notes to the Financial Statements For the Year 2024 Name of Other Related Party Relationship with Our Company Chongqing Wanfuzunda Automobile Sales and Service Under the control of the same ultimate Co. Ltd. holding company Chongqing Wanyou Zhicheng Automobile Sales and Under the control of the same ultimate Service Co. Ltd. holding company Chongqing Wanyou Xingjian Automobile Sales and Under the control of the same ultimate Service Co. Ltd. holding company Under the control of the same ultimate Chongqing Wanyou Economic Development Co. Ltd.holding company Chongqing Wanyou Ducheng Automobile Sales and Under the control of the same ultimate Service Co. Ltd. holding company Chongqing Wanyou Chengxing Automobile Sales and Under the control of the same ultimate Service Co. Ltd. holding company Chongqing Changan Smart City Operation and Under the control of the same ultimate Management Co. Ltd. holding company Under the control of the same ultimate Chongqing Qingshan Transmission Sales Co Ltd.holding company Under the control of the same ultimate Chongqing Shangfang Automobile Parts Co. Ltd.holding company Under the control of the same ultimate Chongqing Qingshan Industry Co. Ltd.holding company Under the control of the same ultimate Chongqing Jianshe Quanda industrial Co. Ltd.holding company Under the control of the same ultimate Chongqing Jianshe Transmission Technology Co. Ltd.holding company Under the control of the same ultimate Chongqing Jianshe Vehicle Air - Conditioner Co. Ltd.holding company Under the control of the same ultimate Chongqing Fujitsu Supply Chain Management Co. Ltd.holding company Under the control of the same ultimate Chongqing Dajiang Jixin Forging Co. Ltd.holding company Under the control of the same ultimate Chongqing Anfu Automobile Marketing Co. Ltd.holding company 241重庆长安汽车股份有限公司（合并） Notes to the Financial Statements For the Year 2024 Name of Other Related Party Relationship with Our Company China Changan Automobile Group Tianjin Sales Co. Under the control of the same ultimate Ltd. holding company China Changan Automobile Group Hefei Investment Under the control of the same ultimate Co. Ltd. holding company China South Industries Group Commercial Factoring Under the control of the same ultimate Co. Ltd. holding company Under the control of the same ultimate China South industries Group Leasing Co. Ltd.holding company Yunnan Wanyou Automobile Sales and Service Co. Under the control of the same ultimate Ltd. holding company Under the control of the same ultimate Ya'an Wanyou Automobile Sales and Service Co. Ltd.holding company Southwest Ordnance Chongqing Environmental Under the control of the same ultimate Protection Research Institute Co. Ltd. holding company Under the control of the same ultimate Wanyou Automobile Investment Co.. Ltd.holding company Under the control of the same ultimate Sichuan Ningjiangshanchuan Machinery Co. Ltd.holding company Under the control of the same ultimate Sichuan Jian'an Industry Co. Ltd.holding company Panzhihua Wanyou Automobile Sales and Service Co. Under the control of the same ultimate Ltd. holding company Under the control of the same ultimate Luzhou Wanyou Automobile Service Co. Ltd.holding company Under the control of the same ultimate Longchang Shanchuan Machinery Co. Ltd.holding company Jiangsu Wanyou Automobile Sales and Service Co. Under the control of the same ultimate Ltd. holding company Under the control of the same ultimate Jianshe Industrial Group (Yunnan) Co. Ltd.holding company Under the control of the same ultimate Hubei Xiaogan Huazhong Automobile Lamp Co. Ltd.holding company 242重庆长安汽车股份有限公司（合并） Notes to the Financial Statements For the Year 2024 Name of Other Related Party Relationship with Our Company Hubei Huazhong Magneti Marelli Automotive Lighting Under the control of the same ultimate Co. Ltd. holding company Harbin Dongan Automobile Engine Manufacturing Co. Under the control of the same ultimate Ltd. holding company Under the control of the same ultimate Harbin Dongan Automobile Power Co. Ltd.holding company Guizhou Wanyou Automobile Sales and Service Co. Under the control of the same ultimate Ltd. holding company Under the control of the same ultimate Dali Wanfu Automobile Sales and Service Co. Ltd.holding company Chengdu Wanyou Xiangyu Automobile Sales and Under the control of the same ultimate Service Co. Ltd. holding company Under the control of the same ultimate Chengdu Wanyou Automobile Trade Service Co. Ltd.holding company Chengdu Wanyou Automobile Sales and Service Co. Under the control of the same ultimate Ltd. holding company Under the control of the same ultimate Chengdu Wanyou Trading Co. Ltd.holding company Under the control of the same ultimate Chengdu Wanyou Filter Machine Co. Ltd.holding company Under the control of the same ultimate Chengdu Lingchuan Vehicle Fuel Tank Co. Ltd.holding company Chengdu Jialing Huaxi Optical Precision Machinery Under the control of the same ultimate Co. Ltd. holding company Under the control of the same ultimate Chengdu Huachuan Electrical Equipment Co. Ltd.holding company Under the control of the same ultimate Chenzhi (Chongqing) Braking System Co. Ltd.holding company Under the control of the same ultimate China South Industries Group Finance Co. Ltd.holding company Under the control of the same ultimate Beijing Beiji Mechatronics Industry Co. Ltd.holding company 243重庆长安汽车股份有限公司（合并） Notes to the Financial Statements For the Year 2024 Name of Other Related Party Relationship with Our Company Under the control of the same ultimate Beijing North Changfu Automobile Sales Co. Ltd.holding company Under the control of the same ultimate Anhui Wanyou Automobile Sales and Service Co. Ltd.holding company Under the control of the same ultimate Chenzhi (Chengdu) Intelligent Suspension Co. Ltd.holding company Chengdu Zhongzi Guangming Catalytic Technology Under the control of the same ultimate Co. Ltd. holding company Under the control of the same ultimate Chongqing Changan Minsheng Logistics Co. Ltd.holding company Human Resources Development Center of China South Under the control of the same ultimate Industries Group holding company Under the control of the same ultimate China Ordnance Press holding company Under the control of the same ultimate Nanfang Yite Air - Conditioning Co. Ltd.holding company Under the control of the same ultimate Nanfang Faurecia Automotive Components Co. Ltd.holding company Under the control of the same ultimate Hunan Tianyan Machinery Co. Ltd.holding company Under the control of the same ultimate Beijing Zhongbing Insurance Brokers Co. Ltd.holding company Under the control of the same ultimate Harbin Hafei Automobile Industry Group Co. Ltd.holding company Under the control of the same ultimate Chongqing Wanyou Talent Service Co. Ltd.holding company Under the control of the same ultimate Chongqing Southwest Inspection and Testing Co. Ltd.holding company Chongqing Changxiang Supply Chain Technology Co. Under the control of the same ultimate Ltd. holding company Under the control of the same ultimate Nanyang Lida Optoelectronics Co. Ltd.holding company 244重庆长安汽车股份有限公司（合并） Notes to the Financial Statements For the Year 2024 Name of Other Related Party Relationship with Our Company Chongqing Saimei Digital Intelligence Technology Co. Under the control of the same ultimate Ltd. holding company Under the control of the same ultimate China Academy of Ordnance Science holding company China South Industries Group Automation Research Under the control of the same ultimate Institute Co. Ltd. holding company Under the control of the same ultimate Zhejiang Zhongbing Health Care Co. Ltd.holding company Under the control of the same ultimate Chenzhi Technology Co. Ltd.holding company China South Industries Group Information Center Co. Under the control of the same ultimate Ltd. holding company Under the control of the same ultimate Chongqing Xiyi Automobile Connecting Rod Co. Ltd.holding company Chongqing Jianshe Mechanical & Electrical Equipment Under the control of the same ultimate Co. Ltd. holding company Under the control of the same ultimate Chongqing Jianshe Industry (GROUP) Co. Ltd.holding company Chongqing Jialing Yimin Special Type Equipment Co. Under the control of the same ultimate Ltd. holding company Chongqing Dajiang Xinda VEHICLE SHARE Limited Under the control of the same ultimate Company holding company Under the control of the same ultimate Yunnan Wanhang Automobile Sales Service Co. Ltd.holding company Under the control of the same ultimate Chengdu Lingchuan SPECIAL Industries Co. Ltd.holding company Under the control of the same ultimate Bazhong Wanyou Automotive Sales Service Co. Ltd.holding company Under the control of the same ultimate Hunan Tyen Machinery Co. Ltd.holding company Hubei Huazhong Yangtze Optoelectronic Technology Under the control of the same ultimate Co. Ltd. holding company 245重庆长安汽车股份有限公司（合并） Notes to the Financial Statements For the Year 2024 Name of Other Related Party Relationship with Our Company Under the control of the same ultimate Zhongguangxi Group Co. Ltd.holding company Companies in which the ultimate holding Hafeimotor Co. Ltd.company holds shares Companies in which the ultimate holding Chongqing Nexteer Steering System Co. Ltd.company holds shares Chongqing Lingchuan Automobile Parts Manufacturing Companies in which the ultimate holding Technology Co Ltd. company holds shares Chongqing Jianshe Hanon Automotive Thermal Companies in which the ultimate holding Management System Co. Ltd. company holds shares Companies in which the ultimate holding Chongqing Dajiang Yuqiang Plastic Products Co. Ltd.company holds shares Companies in which the ultimate holding Chongqing Dajiang Aprus Automotive Parts Co. Ltd.company holds shares Chongqing Dajiang Guoli Precision Machinery Companies in which the ultimate holding Manufacturing Co. Ltd. company holds shares Chongqing Dajiang Dongyang Plastic Products Co. Companies in which the ultimate holding Ltd. company holds shares Companies in which the ultimate holding United Automotive Electronics (Chongqing) Co. Ltd.company holds shares Lear Changan (Chongqing) Automotive Systems Co. Companies in which the ultimate holding Ltd. company holds shares Changan St?ubli (Chongqing) Robot Intelligent Companies in which the ultimate holding Equipment Co. Ltd. company holds shares Tenneco Lingchuan (Chongqing) Exhaust System Co. Companies in which the ultimate holding Ltd. company holds shares Companies in which the ultimate holding NTN Driveshaft (Chongqing) Co. Ltd.company holds shares (V) Related -Party Transaction Information 1、 Related - Party Transactions of Purchasing and Selling Goods and Providing and Receiving Labor Services 246重庆长安汽车股份有限公司（合并） Notes to the Financial Statements For the Year 2024 Table of Goods Purchased/Labor Services Received Content of Related - Party Related Party Current - Period Amount Prior - Period Amount Transaction Chongqing Purchase components and TSINGSHAN Industrial parts and Receive labor 8629997498.38 7909257881.61 Co. Ltd. services Purchase components and Jiangling MOTOR parts and Receive labor 5553351208.06 2501907444.50 Holding Co. Ltd.services Times Chang'an Power Purchase components and 5053358710.8295181872.65 Battery Co. Ltd. parts Chongqing Changan Purchase components and Minsheng Logistics Co. parts and Receive labor 4804682273.47 5165658104.43 Ltd. services Hubei Huazhong Purchase components and Magneti Marelli parts and Receive labor 1491140208.55 1123367388.13 Automotive Lighting services Co. Ltd.Purchase components and Chenzhi (Chongqing) parts and Receive labor 1216704909.45 1169593423.84 Brake System Co. Ltd.services Purchase components and Sichuan Jian'an Industry parts and Receive labor 1176754243.23 1189789519.57 Co. Ltd.services Chongqing Nexteer Purchase components and Steering System Co. parts and Receive labor 1167443271.72 1057076294.06 Ltd. services United Automotive Purchase components and Electronic Systems parts and Receive labor 963566695.41 1010229555.68 (Chongqing) Co. Ltd. services 247重庆长安汽车股份有限公司（合并） Notes to the Financial Statements For the Year 2024 Content of Related - Party Related Party Current - Period Amount Prior - Period Amount Transaction Harbin Dongan Purchase components and Automobile Engine parts and Receive labor 954360785.84 821839603.40 Manufacturing Co. Ltd. services Purchase components and Nanfang Yite Air - parts and Receive labor 840457740.62 802270183.24 Conditioning Co. Ltd.services Sichuan Purchase components and Ningjiangshanchuan parts and Receive labor 734780452.06 432815652.22 Machinery Co. Ltd. services Chongqing Dajiang Purchase components and Dongyang Plastic parts and Receive labor 688184221.32 618976091.63 Products Co. Ltd. services Nanfang Faurecia Purchase components and Automotive Components parts and Receive labor 680243436.60 461695054.62 Co. Ltd. services Purchase components and Nanfang Yite Air - parts and Receive labor 657155505.27 706168677.33 Conditioning Co. Ltd.services Chongqing Wutong Purchase components and Chelian Technology Co. parts and Receive labor 565801798.21 343192676.83 Ltd. services Chongqing Dajiang Purchase components and Guoli Precision parts and Receive labor 444406535.18 496995640.59 Machinery services Manufacturing Co. Ltd.Chengdu Zhongzi Purchase components and Guangming Catalytic 419639817.19 688149261.93 parts Technology Co. Ltd.GKN HUAYU Driveline Purchase components and Systems(Chongqing) parts and Receive labor 412259857.54 389817223.54 Co. Ltd. services 248重庆长安汽车股份有限公司（合并） Notes to the Financial Statements For the Year 2024 Content of Related - Party Related Party Current - Period Amount Prior - Period Amount Transaction Chongqing Changxian Purchase components and Intelligent Technology parts and Receive labor 392912027.47 93604392.49 Co. Ltd. services Chongqing Dajiang Purchase components and Aprus Automotive Parts parts and Receive labor 354395826.81 452268436.90 Co. Ltd. services Chongqing Jianshe Purchase components and Transmission parts and Receive labor 298484894.36 280512432.69 Technology Co. Ltd. services Harbin Dongan Purchase components and Automobile Power Co. parts and Receive labor 269628465.00 395901799.55 Ltd. services China Changan Purchase components and Automobile Group Co. parts and Receive labor 254893589.14 3001862.66 Ltd. services Lear Changan Purchase components and (Chongqing) Automotive 250856034.67 336686106.50 parts System C O. Ltd Chongqing Lingchuan Automobile Parts Purchase components and 193123964.60213630757.24 Manufacturing parts Technology Co. Ltd.Chongqing Shangfang Purchase components and Automobile Parts Co. parts and Receive labor 174460101.56 129114128.66 Ltd. services Chongqing Jianshe Purchase components and Vehicle Air - Conditioner 171970343.84 55811393.01 parts Co. Ltd.Hunan Tyen Machinery Purchase components and 157002932.22143867189.64 Co. Ltd. parts 249重庆长安汽车股份有限公司（合并） Notes to the Financial Statements For the Year 2024 Content of Related - Party Related Party Current - Period Amount Prior - Period Amount Transaction Hubei Xiaogan Purchase components and Huazhong Automotive parts and Receive labor 155709252.63 137367855.66 Lighting Co. Ltd. services Construction Industry Purchase components and Group (Yunnan) Co. 147187109.84 7389085.00 parts Ltd.Purchase components and Chengdu Wanyou Filter parts and Receive labor 123078320.69 131715230.00 Co. Ltd.services Avita Technology Purchase components and 110515542.2342227013.92 (Chongqing) Co. Ltd. parts Chongqing Qingshan Purchase components and Transmission Sales Co. 93176772.64 174129034.27 parts Ltd.Tenneco Lingchuan Purchase components and (Chongqing) Exhaust parts and Receive labor 90654991.96 75305544.57 System Company Ltd. services Harbin Hafei Automobile Industry Receive labor services 59136548.68 Group Co. Ltd.Chongqing Yihong Purchase components and Defense Technology Co. 58913150.80 75489406.20 parts Ltd.Chengdu Lingchuan Purchase components and Vehicle Fuel Tank Co. 57515999.70 49988528.24 parts Ltd.Purchase components and Beijing Wutong Chelian parts and Receive labor 54401495.14 66771769.32 Technology Co. Ltd.services 250重庆长安汽车股份有限公司（合并） Notes to the Financial Statements For the Year 2024 Content of Related - Party Related Party Current - Period Amount Prior - Period Amount Transaction Purchase components and Chongqing Wanyou parts and Receive labor 46102199.93 53578718.07 Development Co. Ltd.services Purchase components and Avita Technology parts and Receive labor 45560794.65 517327.44 (Chongqing) Co. Ltd. services ChongQing Tsingshan Purchase components and Transmission Sale Co. 44442269.68 67569783.88 parts Ltd.Chongqing Chang'an Purchase components and Intelligent Industrial parts and Receive labor 42151655.08 15950070.92 Technology Service Co.services Ltd.Yunnan Wanyou Automobile Sales Receive labor services 34796059.38 39341743.95 Service Co. Ltd.Chongqing Wanyou Receive labor services 31062986.46 Talent Service Co. Ltd.Chongqing DAJIANG- Purchase components and 29589566.671404946.66 JIEXIN Forging Co. Ltd. parts Chengdu Wanyou Purchase components and Xiangyu Auto Sales parts and Receive labor 28224481.68 32444290.19 Service Co.Ltd. services Guizhou Wanyou Automotive Sales Receive labor services 24755324.21 25147910.62 Service Co.Ltd.Chenzhi (Chengdu) Purchase components and Intelligent Suspension 23358495.90 329060.27 parts Co. Ltd 251重庆长安汽车股份有限公司（合并） Notes to the Financial Statements For the Year 2024 Content of Related - Party Related Party Current - Period Amount Prior - Period Amount Transaction Jiangsu Wanyou Automobile Sales and Receive labor services 23344020.90 47556715.66 Service Co. Ltd Changan Auto Finance Receive labor services 20382386.87 203900716.83 Co.ltd.Long Chang Shan Chuan Purchase components and Precision Welded Tube 19656326.97 24200356.23 parts Co.Ltd.Southwest Ordnance Industry Chongqing Environmental Receive labor services 17758031.18 445897.62 Protection Research Institute Co. Ltd Purchase components and Chang'an Mazda Engine parts and Receive labor 13983620.07 3237665.14 Co. Ltd services Purchase components and Chongqing Chang'an parts and Receive labor 12988800.43 13270362.89 Industry(Group)Co.Ltd.services Chenzhi Technology Co. Purchase components and 12923678.84 Ltd parts Chang'an Automotive Receive labor services 12114410.55 9516199.15 Sales Tianjin Co.Ltd.Anhui Wanyou Automobile Sales and Receive labor services 10385865.27 8013949.98 Service Co. Ltd Chengdu Wanyou Auto Receive labor services 10356719.32 11285463.97 Trade Service Co. Ltd Chongqing Chang'an Real Estate Management Receive labor services 9208950.03 15428001.25 Co.Ltd. 252重庆长安汽车股份有限公司（合并） Notes to the Financial Statements For the Year 2024 Content of Related - Party Related Party Current - Period Amount Prior - Period Amount Transaction Chongqing Construction Purchase components and Tongda Industrial Co. parts and Receive labor 5441277.04 52480106.10 Ltd services Chongqing Wanyou Chengxing Automobile Receive labor services 3860376.79 3773979.88 Sales and Service Co.Ltd Chongqing Wanyou Ducheng Automotive Receive labor services 3812996.54 6717354.59 Sales Service Co.Ltd.Wanyou Automobile Receive labor services 3780185.72 Investment Co. Ltd Purchase components and Changan Ford Motor parts and Receive labor 3449926.34 203.40 Co. Ltd services Chongqing Wanyou Xingjian Automobile Receive labor services 2874074.26 3832530.21 Sales and Service Co.Ltd Chengdu Wanyou Auto Receive labor services 2581405.61 2176652.22 Sales Service Co.Ltd.Ya'an Wanyou Purchase components and Automotive Sales parts and Receive labor 2360293.73 2761315.77 Service Co.Ltd. services Chongqing Southwest Inspection and Testing Receive labor services 1800862.37 Co. Ltd Chongqing Chang'an Kuayue Vehicles Co. Receive labor services 983394.36 Ltd. 253重庆长安汽车股份有限公司（合并） Notes to the Financial Statements For the Year 2024 Content of Related - Party Related Party Current - Period Amount Prior - Period Amount Transaction Chongqing Wanyou Purchase components and Zunda Automobile Sales parts and Receive labor 954339.01 76401.73 and Service Co. Ltd services Panzhihua Wanyou Automobile Sales and Receive labor services 745707.44 672314.14 Service Co. Ltd Beijing Beifang Changfu Receive labor services 723218.80 Auto Sales Co.Ltd.Chongqing Changxiang Supply Chain Receive labor services 719921.32 Technology Co. Ltd NANYANG LIDA Purchase components and OPTIC-ELECTRONICS 482340.66 parts CO.LTD.Chongqing Changan Minsheng Fuyong Receive labor services 355000.00 Logistics Co.Ltd.Chengdu Jialing Huaxi Purchase components and Optical & Precision 275250.53 931742.59 parts Machinery Co. Ltd.Beijing Zhongbing Purchase components and Insurance Brokerage parts and Receive labor 247724.61 226367.35 Co. Ltd services Changan Mazda Automobile Corporation Receive labor services 212576.11 3645821.90 Ltd.China Ordnance Equipment Group Receive labor services 159245.28 Information Center Co.Ltd 254重庆长安汽车股份有限公司（合并） Notes to the Financial Statements For the Year 2024 Content of Related - Party Related Party Current - Period Amount Prior - Period Amount Transaction Luzhou Wanyou Automotive Service Receive labor services 139830.99 1343676.63 Co.Ltd.Dajiang YuQiang Purchase components and 90868.64284403.78 Plastics Co.Ltd. parts Purchase components and Nanjing Leading parts and Receive labor 86621.45 59006.16 Technology Co.Ltd.services CHONGQING FUTURE SUPPLY CHAIN Receive labor services 76965.09 MANAGEMENT CO.LTD.Weaponry Equipment Receive labor services 42358.49 Property Co. Ltd Human Resources Development Center of Receive labor services 41971.70 23113.20 China South Industries Group Corporation。 Chengdu Wanyou Trade Receive labor services 36741.44 109105.05 Co. Ltd.Beijing Beiji Mechanical Purchase components and & Electric Industry Co. 24494.80 181057.41 parts Ltd Purchase components and China Ordnance News parts and Receive labor 12311.32 22467.73 Agency services China Automotive Purchase components and Innovation and parts and Receive labor 11628.90 480000.00 Intelligence Technology services Co. Ltd. 255重庆长安汽车股份有限公司（合并） Notes to the Financial Statements For the Year 2024 Content of Related - Party Related Party Current - Period Amount Prior - Period Amount Transaction Shanghai Jiahang Automotive Service Co. Receive labor services 11151.69 80043.15 Ltd.China Ordnance Equipment Group Receive labor services 1698.11 Automation Research Institute Co. Ltd.Zhejiang Zhongbing Health and Elderly Care Receive labor services 849.06 Co. Ltd.Chongqing Changan Purchase components and New Energy Vehicles parts and Receive labor 666172597.14 Technology Co. Ltd. services China Ordnance Equipment Group Receive labor services 93693.30 Commercial Factoring Co. Ltd Nanjing Chelai Travel Receive labor services 15222.66 Technology Co. Ltd Chongqing Chang'an Pay the comprehensive service 67891580.5686759331.24 Industry(Group)Co.Ltd. fee Chongqing Purchase engineering materials TSINGSHAN Industrial 36186.02 and supplies Co. Ltd.Chongqing Chang'an Intelligent Industrial Purchase engineering materials 2049697.68 Technology Service Co. and supplies Ltd.Changan Reis Purchase engineering materials 1756066.31 (Chongqing) Robotic and supplies 256重庆长安汽车股份有限公司（合并） Notes to the Financial Statements For the Year 2024 Content of Related - Party Related Party Current - Period Amount Prior - Period Amount Transaction Intelligent Equipment Co.Ltd Statement of Goods Sold/ Labor Services Provided Previous - period Related Party Related Party Transaction Content Current - period Amount Amount Sell complete vehicle parts and Avita Technology (Chongqing) Co. Ltd. components and provide labor 3545912925.84 3005944066.62 services Chongqing Wanyou Zunda Automobile Sell parts and components and 3044511084.132615879134.66 Sales and Service Co. Ltd. provide labor services Sell complete vehicle parts and Chengdu Wanyou Xiangyu Automobile components and provide labor 2560954240.83 1737535522.44 Sales and Service Co. Ltd.services Sell complete vehicle parts and Guizhou Wanyou Automobile Sales and components and provide labor 1703466813.81 1311607201.25 Service Co. Ltd.services Sell complete vehicle parts and Chongqing Wanyou Economic components and provide labor 1669176840.92 1767117262.72 Development Co. Ltd.services Sell complete vehicle parts and Jiangsu Wanyou Automobile Sales and components and provide labor 1287150633.14 1328878775.22 Service Co. Ltd.services Sell complete vehicle parts and Yunnan Wanyou Automobile Sales and components and provide labor 1228151892.06 1105265913.83 Service Co. Ltd.services Chongqing Wanyou Zhicheng Sell complete vehicles and parts and 1135629281.7879500.96 Automobile Sales and Service Co. Ltd. components 257重庆长安汽车股份有限公司（合并） Notes to the Financial Statements For the Year 2024 Previous - period Related Party Related Party Transaction Content Current - period Amount Amount Sell complete vehicle parts and Wanyou Automobile Investment Co.. Ltd. components and provide labor 691951708.66 584399985.39 services Sell complete vehicle parts and Master Changan Automobile Co. Ltd. components and provide labor 685011995.56 279656730.41 services Sell complete vehicle parts and Changan Mazda Automobile Co.. Ltd. components and provide labor 442265277.20 288828348.49 services Sell complete vehicle parts and Anhui Wanyou Automobile Sales and components and provide labor 405366552.77 306169916.41 Service Co. Ltd.services Sell parts and components and Changan Ford Automobile Co. Ltd. 291965933.06 9082666.28 provide labor services Sell complete vehicle parts and China Changan Automobile Group components and provide labor 225284281.97 304080496.29 Tianjin Sales Co. Ltd.services Chongqing Fujie Supply Chain Sell complete vehicles and parts and 109212762.45538716791.96 Management Co. Ltd. components Chongqing Changan Kuayue Vehicles Sell parts and components and 89649785.6293017748.87 Co. Ltd. provide labor services Sell parts and components and Jiangling Holdings Co. Ltd. 79780337.37 1243519.20 provide labor services Changan Automobile Finance Co. Ltd. Provide labor services 74923741.22 354417122.66 Sell complete vehicle parts and Chengdu Wanyou Automobile Trade components and provide labor 69393399.93 597327672.80 Service Co. Ltd.services Sell complete vehicle parts and Chongqing Anfu Automobile Marketing components and provide labor 47716725.76 58386460.13 Co. Ltd.services 258重庆长安汽车股份有限公司（合并） Notes to the Financial Statements For the Year 2024 Previous - period Related Party Related Party Transaction Content Current - period Amount Amount Sell parts and components and Changan Mazda Engine Co Ltd. 31823562.00 4748723.27 provide labor services Sell complete vehicle parts and Chengdu Wanyou Automobile Sales and components and provide labor 19512442.80 1731121.33 Service Co. Ltd.services China South Industries Group Finance Provide labor services 19485773.58 2065012.08 Co. Ltd.Sell complete vehicle parts and Chongqing Qingshan Industry Co. Ltd. components and provide labor 16224015.54 31157207.00 services Chongqing Changan Intelligent Industrial Provide labor services 12658659.67 1656676.95 Technology Service Co. Ltd.China South Industries Group Financial Provide labor services 6745494.75 25691328.80 Leasing Co. Ltd.Chongqing Changxian Intelligent Provide labor services 5095395.18 Technology Co. Ltd.Sell complete vehicle parts and Chongqing Wanyou Ducheng Automobile components and provide labor 4204247.18 3605914.02 Sales and Service Co. Ltd.services Chongqing Changan Minsheng Logistics Sell parts and components and 3498850.353088120.79 Co Ltd. provide labor services Southwest Ordnance Chongqing Environmental Protection Research Provide labor services 2299226.01 Institute Co Ltd.Sell complete vehicle parts and Chongqing Wanyou Chengxing components and provide labor 2203892.78 18983.24 Automobile Sales and Service Co. Ltd.services Sell complete vehicle parts and Ya'an Wanyou Automobile Sales and components and provide labor 2064820.56 2547798.92 Service Co. Ltd.services 259重庆长安汽车股份有限公司（合并） Notes to the Financial Statements For the Year 2024 Previous - period Related Party Related Party Transaction Content Current - period Amount Amount Beijing North Changfu Automobile Sales Sell complete vehicles and provide 1906219.88 Co. Ltd. labor services Changan Ford New Energy Automobile Provide labor services 1905273.58 Technology Co. Ltd.Sell complete vehicle parts and Chongqing Wanyou Xingjian Automobile components and provide labor 1428543.28 2366433.23 Sales and Service Co. Ltd.services Sell complete vehicle parts and Panzhihua Wanyou Automobile Sales and components and provide labor 834324.62 671997.23 Service Co. Ltd.services Chongqing Wutong Chelian Technology Provide labor services 706691.17 1096933.00 Co. Ltd.China South Industries Group Corporation Provide labor services 656603.77 Chongqing Changan Kuayue Vehicles Sell parts and components 552228.25 704862.14 Marketing Co. Ltd.Chenzhi Technology Co. Ltd. Provide labor services 438207.54 Western Auto Network (Chongqing) Co.Provide labor services 297054.72 Ltd.Chongqing Nexteer Steering System Co. Sell parts and components and 226415.09995304.99 Ltd. provide labor services Sell complete vehicle parts and Chengdu Wanyou Trading Co. Ltd. components and provide labor 154902.13 167458.36 services Sichuan Jian'an Industry Co. Ltd. Provide labor services 147924.52 228618.74 Dali Wanfu Automobile Sales and Sell parts and components 143213.28 59084.14 Service Co. Ltd.China South Industries Group Provide labor services 141509.43 Information Center Co. Ltd.Nanjing Linghang Technology Co. Ltd. Provide labor services 140962.77 1947663.55 Sichuan Ningjiangshanchuan Machinery Provide labor services 139211.60 632600.17 Co. Ltd. 260重庆长安汽车股份有限公司（合并） Notes to the Financial Statements For the Year 2024 Previous - period Related Party Related Party Transaction Content Current - period Amount Amount Times Changan Power Battery Co. Ltd. Provide labor services 112400.00 Chengdu Huachuan Electrical Equipment Sell complete vehicles and provide 95928.49164961.79 Co. Ltd. labor services Hubei Huazhong Yangtze River Provide labor services 84905.66 Optoelectronics Technology Co. Ltd.Zhongguang Optical Group Co. Ltd. Provide labor services 84905.66 Chongqing Dajiang Guoli Precision Sell parts and components and 62135.77114266.17 Machinery Manufacturing Co. Ltd. provide labor services Sell complete vehicle parts and Luzhou Wanyou Automobile Service Co.components and provide labor 54476.22 1009690.18 Ltd.services Chongqing Shangfang Automobile Parts Provide labor services 35221.24 1252080.34 Co. Ltd.Chongqing Changan Smart City Provide labor services 32839.77 Operation and Management Co. Ltd.Chongqing Dajiang Dongyang Plastic Sell parts and components and 31710.5218867.92 Products Co. Ltd. provide labor services Chenzhi (Chongqing) Braking System Provide labor services 30081.15 214511.78 Co. Ltd.Chengdu Lingchuan Vehicle Fuel Tank Provide labor services 30053.10 Co. Ltd.Nanfang Yite Air - Conditioning Co. Ltd. Provide labor services 14063.55 1651787.03 China South Industries Group Human Provide labor services 13207.55 Resources Development Center Avita (Chongqing) Automobile Sales and Provide labor services 13132.10 Service Co. Ltd.Hubei Xiaogan Huazhong Automobile Provide labor services 9433.96 340.99 Lamp Co. Ltd.Nanfang Faurecia Automotive Provide labor services 5886.80 498120.79 Components Co. Ltd. 261重庆长安汽车股份有限公司（合并） Notes to the Financial Statements For the Year 2024 Previous - period Related Party Related Party Transaction Content Current - period Amount Amount Lear Changan (Chongqing) Automotive Provide labor services 5886.79 Systems Co. Ltd.Chongqing Jianshe Transmission Sell parts and components and 5882.83187996.19 Technology Co. Ltd. provide labor services Chongqing Dajiang Aprus Automotive Provide labor services 5554.41 Parts Co. Ltd.Chongqing Lingchuan Automobile Parts Sell parts and components and 2588.6232454.14 Manufacturing Technology Co. Ltd. provide labor services Chongqing Jianshe Vehicle Air - Sell parts and components and 1083.608490.57 Conditioner Co. Ltd. provide labor services Chongqing Dajiang Yuqiang Plastic Provide labor services 17.94 Products Co. Ltd.Sell complete vehicle parts and Deep Blue Automobile Technology Co.components and provide labor 111103766.19 Ltd services Harbin Dongan Automobile Engine Sell parts and components 3358934.35 Manufacturing Co. Ltd.Chongqing Changan Industry (Group) Provide labor services 3283373.72 Co. Ltd.China South Industries Group Provide labor services 358584.46 Commercial Factoring Co. Ltd.China Changan Automobile Group Hefei Sell complete vehicles 230752.22 Investment Co. Ltd.Hunan Tianyan Machinery Co. Ltd. Provide labor services 169811.32 China Changan Automobile Group Co.Provide labor services 85080.76 Ltd.NTN Driveshaft (Chongqing) Co. Ltd. Provide labor services 52739.15 Hubei Huazhong Magneti Marelli Provide labor services 1313.00 Automotive Lighting Co. Ltd.Chongqing Jianshe Tongda Industrial Provide labor services 1070.21 Co. Ltd. 262重庆长安汽车股份有限公司（合并） Notes to the Financial Statements For the Year 2024 Previous - period Related Party Related Party Transaction Content Current - period Amount Amount China Automotive Technology and Provide labor services 0.94 Innovation Co. Ltd.Jiangsu Wanyou Automobile Sales and Interest income from deferred 2883287.511380.53 Service Co. Ltd. payment of funds China South lndustries Group Finance Interest income from deferred 2419885.65 Co. Ltd. payment of funds Guizhou Wanyou Automobile Sales and Interest income from deferred 1944074.93 Service Co. Ltd. payment of funds Chengdu Wanyou Xiangyu Automobile Interest income from deferred 1639633.40 Sales and Service Co. Ltd. payment of funds Yunnan Wanyou Automobile Sales and Interest income from deferred 693090.36374716.09 Service Co. Ltd. payment of funds Chongqing Wanyou Economic Interest income from deferred 652912.2214602.59 Development Co. Ltd. payment of funds Anhui Wanyou Automobile Sales and Interest income from deferred 333282.09 Service Co. Ltd. payment of funds Chengdu Wanyou Automobile Trade Interest income from deferred 226030.6154859.95 Service Co. Ltd. payment of funds Chengdu Lingchuan Vehicle Fuel Tank Interest income from deferred 17969.51 Co. Ltd. payment of funds China Changan Automobile Group Interest income from deferred 4846.907601.77 Tianjin Sales Co. Ltd. payment of funds Interest income from deferred Wanyou Automobile Investment Co. Ltd. 4141.59 payment of funds Provide personnel and technical Changan Mazda Automobile Co. Ltd. 53908116.64 19654432.21 support Provide personnel and technical Changan Ford Automobile Co. Ltd. 14796508.84 22556634.55 support Provide personnel and technical Changan Mazda Engine Co. Ltd. 12315939.07 13114270.22 support 263重庆长安汽车股份有限公司（合并） Notes to the Financial Statements For the Year 2024 Previous - period Related Party Related Party Transaction Content Current - period Amount Amount Provide personnel and technical Jiangling Holdings Co. Ltd. 10914746.19 16029196.23 support Changan Ford New Energy Automobile Provide personnel and technical 6198392.30 Technology Co. Ltd support Provide personnel and technical Jiangling Motors Corporation Limited 3293728.39 2003201.96 support Chongqing Changan Kuayue Vehicles Provide personnel and technical 2379061.743633857.52 Co. Ltd. support Provide personnel and technical Times Changan Power Battery Co. Ltd. 1853256.70 support Chongqing Changxian Intelligent Provide personnel and technical 1738755.43 Technology Co. Ltd. support Chongqing Changan Minsheng Logistics Provide personnel and technical 868472.641271925.14 Co. Ltd. support Chongqing Wutong Chelian Technology Provide personnel and technical 550738.60208063.02 Co. Ltd. support China Changan Automobile Group Co. Provide personnel and technical 59003.39169811.32 Ltd. support Provide personnel and technical Times FAW Power Battery Co. Ltd. 1234091.00 support Provide personnel and technical Avita Technology (Chongqing) Co. Ltd. 682780.43 support Chongqing Anda Semiconductor Co. Provide personnel and technical 291666.67 Ltd. support China South Industries Group Finance Provide personnel and technical 143990.86 Co. Ltd. support Chongqing Shangfang Automobile Parts Provide personnel and technical 115392.25 Co. Ltd. support Chongqing Jianshe Transmission Provide personnel and technical 27872.04 Technology Co. Ltd. support 264重庆长安汽车股份有限公司（合并） Notes to the Financial Statements For the Year 2024 Previous - period Related Party Related Party Transaction Content Current - period Amount Amount Chongqing Nexteer Steering System Co. Provide personnel and technical 18026.66 Ltd. support Chongqing Dajiang Guoli Precision Provide personnel and technical 2520.00 Machinery Manufacturing Co. Ltd. support 2、 Related lease situation Our company acts as the lessor: Types of leased Lease income recognized Lease income recognized Name of the lessee assets in the current period in the previous period Shanghai Jiaxing Automobile Vehicle 14030159.79 45796707.70 Service Co. Ltd.Chongqing changan Industry Building 6566747.42 3283373.72 (Group) Co. Ltd.Chongqing Wanyou Development Buildings and 674311.92660932.72 Co. Ltd. lands Chongqi Changan Mingshen Building 672559.62 541948.47 Logistics Co. Ltd.Avatr Technology (Chongqing) Co.Vehicle 245268.68 364393.81 Ltd.Nanjing Linghang Technology Co.Vehicle 2605067.26 Ltd.South Air International Co. Ltd. Vehicle 48849.56 Chongqing Changan Real Estate Vehicle 24424.78 Development Co. Ltd. 265重庆长安汽车股份有限公司（合并） Notes to the Financial Statements For the Year 2024 Our company acts as the lessee: Amount for the current period Amount for the previous period Rental expenses for Rent expense for short Variable lease Variable lease Interest short - term leases Interest - term leases and low - payments not Type of payments not expense Increased Name of the lessor and low - value expense on Increased right - value asset leases included in the leased asset included in the Rent paid Rent paid incurred on the right - of - asset leases that are lease liabilities of - use asset accounted for under measurement measurement of lease liability use asset simply accounted assumed the simplified of lease lease liabilities assumed for approach liabilities.Chongqing Chang an Min warehouse 19688242.43 10059282.58 23575546.64 1159658.59 12749740.81 27741456.55 21347779.20 sheng Logistics Co. Ltd.Chongqing Chang an Intelligent City Operation and Lands 5955322.40 5955322.40 5955322.40 3245650.70 Management Co. Ltd.Chongqing Wan you Zhicheng Automobile Sales and Service Vehical 177300.00 177300.00 Co. Ltd. 266重庆长安汽车股份有限公司（合并） Notes to the Financial Statements For the Year 2024 3、 Compensation of key management personnel Amount for Amount for item the current period the previous period Compensation of key management 31737855.0034385715.00 personnel 4、 Other related-party transactions （1）Matters regarding deposits and loans with China South Industries Group Finance Co. Ltd.: Contents of related - party Related party 2024.12.31/2024.1-12 transactions China South Industries Group Finance Co. Ltd. Deposit in the bank 18478700450.59 China South Industries Group Finance Co. Ltd. Receive interest 287291384.56 China South Industries Group Finance Co. Ltd. Commercial acceptance bill 185000000.00 China South Industries Group Finance Co. Ltd. Fixed deposit 1500000000.00 China South Industries Group Finance Co. Ltd. Short-term borrowing 10000000.00 China South Industries Group Finance Co. Ltd. Entrusted loan 500000000.00 Long - term loans due within China South Industries Group Finance Co. Ltd. 36000000.00 one year China South Industries Group Finance Co. Ltd. Long - term loan 36000000.00 China South Industries Group Finance Co. Ltd. Pay interest and handling fees 3032611.11 （2）Matters regarding deposits and loans with Changan Automobile Finance Co. Ltd.: Contents of related - party Related party 2024.12.31/2024.1-12 transactions Chang an Auto Finance Co. Ltd. Deposit in the bank 13650000000.00 Chang an Auto Finance Co. Ltd. Receive interest 303368750.00 (VI) Related party unsettled items such as accounts receivable and accounts payable 1、 Receivable Items 267重庆长安汽车股份有限公司（合并） Notes to the Financial Statements For the Year 2024 Balance at the end Ending balance of last year Project Name RelaAted party Book balance ledger balance Accounts receivable Avita Technology (Chongqing) Co. 777209315.29674602846.19 Ltd.Changan Mazda Automobile Co. 394684921.38177061948.01 Ltd.Changan Ford Automobile Co. Ltd. 309006186.36 9976923.10 Master Chang an Automobile Co. 66120525.0016553872.36 Ltd Chongqing Chang an Kuayue 41454930.0423099903.46 Vehicle Co. Ltd Changan Mazda Engine Co. Ltd. 37151442.58 15886858.18 Jiangling Holdings Co. Ltd. 10737001.40 9791503.74 Changan Auto Finance Co. Ltd. 9540270.17 21019909.48 China South Industries Group 8410150.94 Finance Co. Ltd.Chongqing Changxian Intelligent 4140425.78 Technology Co. Ltd.Jiangling Motors Co. Ltd. 2400000.00 Changan Ford New Energy Vehicle 2019590.00 Technology Co. Ltd.Chongqing Changan Minsheng 1032148.063269852.16 Logistics Co. Ltd.Times Changan Power Battery Co. 530000.00 Ltd.Times FAW Power Battery Co. 477000.00 Ltd.China South Industries Group 455400.005186975.56 Financial Leasing Co. Ltd.Nanjing Linghang Technology Co. 336623.98321563.47 Ltd.Western Car Network (Chongqing) 314878.00 Co. Ltd.Chongqing Changan Intelligent Industrial Technology Service Co. 276804.16 Ltd.Chongqing TINNOVE Technology 271992.261210700.00 Co. Ltd.China South Industries Group Co. 260000.00 Ltd Chongqing Changan Kuayue 170712.14 Vehicle Marketing Co. Ltd. 26019.30 Yunnan Wanyou Auto Sales Service 100070.00121200.00 Co. Ltd.Jiangsu Wanyou Automobile Sales 88001.636117845.18 and Service Co. Ltd.China Changan Automobile Group Co. Ltd. 62543.59 Chengdu Wanyou Xiangyu Automobile Sales and Service Co. 55328.00 368.00 Ltd.Chongqing Tsingshan Industrial Co. Ltd. 40000.00 CSM Faurecia Automotive Parts 3120.00 Co. Ltd 268重庆长安汽车股份有限公司（合并） Notes to the Financial Statements For the Year 2024 Chongqing Wanyou Economic Development Co. Ltd. 350.00 Chongqing Fujit Supply Chain Management Co. Ltd. 13934855.12 Chongqing Chang'an Industry (Group) Co. Ltd. 7139838.45 Shanghai Jiaxing Automotive Service Co. Ltd. 4300560.00 Chenzhi (Chengdu) Intelligent Suspension Co. Ltd. 497845.97 Chongqing Anfu Automobile Marketing Co. Ltd. 278200.00 Notes Receivable Wanyou Automobile Investment 3547990000.002618900000.00 Co. Ltd.Avita Technology (Chongqing) Co. 781817170.731162667212.07 Ltd.Jiangsu Wanyou Automobile Sales 455000000.00 and Service Co. Ltd.Guizhou Wanyou Automobile Sales 165080000.00 and Service Co. Ltd. 14200000.00 Chengdu Wanyou Xiangyu Automobile Sales and Service Co. 60000000.00 Ltd.Chongqing Changan Kuayue 10800000.00 Vehicle Marketing Co. Ltd.Chongqing Tsingshan Industrial 9798141.24 Co. Ltd. 48163692.11 Chongqing Changan Minsheng 790456.20 Logistics Co. Ltd.Harbin Dongan Automotive 142620.83 Engine Manufacturing Co. Ltd. 272292.05 Chongqing Fujit Supply Chain 70015971.00 Management Co. Ltd.Yunnan Wanyou Auto Sales Service 46000000.00 Co. Ltd.Chongqing Changan Kuayue 37033400.00 Vehicle Co. Ltd.Chongqing Wanyou Economic 31000000.00 Development Co. Ltd.Chengdu Wanyou Auto Trade 22500000.00 Service Co. Ltd.Other receivables Chongqing Changxin Zhiqi Private Equity Investment Fund Partnership 2100000.00 25500000.00 Enterprise (Limited Partnership) Chongqing Changyu Private Equity Investment Fund Partnership 69600000.00 Enterprise (Limited Partnership) Jiangling Holdings Co. Ltd. 70.00 2、 Items Payable 269重庆长安汽车股份有限公司（合并） Notes to the Financial Statements For the Year 2024 The balance at the Project Name Related party Ending balance end of last year Accounts Payable Times Changan Power Battery Co. 3678801613.6495181872.65 Ltd.Jiangling Holdings Co. Ltd. 2478593080.08 1354996530.62 Chongqing Tsingshan Industrial Co. 1470629556.191161486369.43 Ltd.Chongqing Nexteer Steering System 540536765.59460868914.97 Co. Ltd.Hubei Huazhong Marelli Automotive 506902783.87304497612.19 Lighting Co. Ltd.Chenzhi (Chongqing) Brake System 287792573.82146361112.11 Co. Ltd.South Air International Co. Ltd. 286068717.64 218167579.17 Chengdu Sinocat Guangming 263138498.64288969832.65 Catalytic Technology Co. Ltd.China Changan Automobile Group 261353608.251040003.18 Co. Ltd.Harbin Dongan Automotive Engine 204125073.84112601705.64 Manufacturing Co. Ltd.Sichuan Jian'an Industry Co. Ltd. 202374745.73 209471637.23 Chongqing Dajiang Guoli Precision 182319446.3880230007.07 Machinery Manufacturing Co. Ltd.Chongqing Dajiang Dongyang Plastic 171950496.78160704720.85 Products Co. Ltd.CSM Faurecia Automotive Parts Co. 171077248.65133412554.27 Ltd Chengdu huachuan ELECTRIC 170985575.26133533197.37 PARTS CO. LTD.GKN HUAYU Driveline Systems 157896846.84131979852.57 (Chongqing) Co. Ltd. 270重庆长安汽车股份有限公司（合并） Notes to the Financial Statements For the Year 2024 The balance at the Project Name Related party Ending balance end of last year Sichuan Ningjiang Shanchuan 149468056.13217032427.38 Machinery Co. Ltd.Chongqing Dajiang YAPP 149388962.40188849804.56 Automotive Parts Co. Ltd.United Automotive Electronic 134936529.32175204866.08 Systems (Chongqing) Co. Ltd.Chongqing Jianshe Transmission 103763728.5353190098.24 Technology Co. Ltd.Chongqing TINNOVE Technology 90746489.673636473.60 Co. Ltd.LEAR CHANGAN (CHONGQING) AUTOMOTIVE SYSTEM CO. 82691521.99 41271.92 LTD.Chongqing Jianshe Automotive Air - 76171906.3315466830.30 Conditioner Co. Ltd.Chongqing Shangfang Auto Parts 75558624.6032922573.42 Co. Ltd.Chongqing Lingchuan Automotive Parts Manufacturing Technology Co. 63969231.26 44644512.83 Ltd.HUNAN TYEN MACHINERY CO. 57356290.4162751647.18 LTD.Chengdu Wanyou Filter Co. Ltd. 40463626.12 23915398.04 Hubei Xiaogan Huazhong 39519253.3130315072.22 Automobile Lighting Co. Ltd.Harbin Dongan Auto Engine Co. 38544239.6182269854.10 Ltd.Chongqing Changan Minsheng 34393559.1012682710.95 Logistics Co. Ltd.Construction Industry Group 32673654.73327412.94 (Yunnan) Co. Ltd. 271重庆长安汽车股份有限公司（合并） Notes to the Financial Statements For the Year 2024 The balance at the Project Name Related party Ending balance end of last year Chenzhi (Chengdu) Intelligent 24669839.131220521.72 Suspension Co. Ltd.Chongqing Hanon Jianshe Automotive Thermal Systems Co. 23380378.94 5633908.16 Ltd.Chengdu Lingchuan Automobile Fuel 21860214.7118306736.20 Tank Co. Ltd.Tenneco Lingchuan (Chongqing) 16641882.8193157.04 Exhaust System Company Ltd.Chongqing Yihong Defense 16396833.5022446756.72 Technology Co. Ltd.Chongqing DAJIANG-JIEXIN 14617501.70421518.30 Forging Co. Ltd.Chenzhi Technology Co. Ltd. 13309661.05 Changan Mazda Engine Co. Ltd. 9404278.40 Beijing Phoenix Auto Intelligence 8158071.161781815.70 Co. Ltd.Chongqing Wanyou Economic 4441680.857393900.62 Development Co. Ltd.Longchang Shanchuan Machinery 4276276.974292608.83 Co. Ltd.Dajiang Yuchyang Plastics Co. Ltd. 3520886.79 3588068.59 Avita Technology (Chongqing) Co. 3404083.46914385.00 Ltd.ChongQing Tsingshan Transmission 2516240.5211834165.78 Sale Co. Ltd.Chongqing Construction Tongda 1755247.0421293902.87 Industrial Co. Ltd.Chongqing Chang'an Intelligent Industrial Technology Service Co. 1443978.00 1443978.00 Ltd. 272重庆长安汽车股份有限公司（合并） Notes to the Financial Statements For the Year 2024 The balance at the Project Name Related party Ending balance end of last year Avita (Chongqing) Automobile Sales 1338148.04587070.80 Service Co. Ltd.Chongqing Jianshe Industry 575587.79575587.79 (GROUP) Co. Ltd.Chongqing Chang`an Industry 477500.98601675.65 (GROUP) Co. Ltd.Hafeimotor Co. Ltd. 287996.57 344.04 Chengdu Jialing Huaxi Optical & 276099.19242083.74 Precision Machinery Co. Ltd.Chongqing Wanyou Talent Service 142239.90 Co. Ltd.Chongqing Changxiang Supply 118377.21 Chain Technology Co. Ltd.NanyangLIDA OPTIC- 105044.95 ELECTRONICS Co. Ltd.Chengdu Lingchuan Special 101585.16101585.16 Industries Co.Ltd.Chongqing Changjiang Electrician 40143.79 Industry Group Co.Ltd.Hangzhou Chelizi Intelligent 12350.0012350.00 Technology Co. Ltd HARBIN BOTONG AUTOMOBILE 6222.12 PARTS CO.LTD.Beijing Beiji Mechanical and 141911.64 Electronic Industry Co.Ltd.Chongqing Jialing Yimin Special 104496.50 Type Equipment Co.Ltd.Chongqing Construction 47265.91 Electromechanical Co. Ltd Chongqing Xiyi Automobile 38422.14 Connecting Rod Co. Ltd. 273重庆长安汽车股份有限公司（合并） Notes to the Financial Statements For the Year 2024 The balance at the Project Name Related party Ending balance end of last year Shanghai Jiaxing Automotive Service 32771.36 Co. Ltd.Chongqing Wanyou Xingjian Automobile Sales and Service Co. 20842.80 Ltd Notes Payable Jiangling Holdings Co. Ltd. 2508252356.10 1047608994.41 Chongqing Tsingshan Industrial Co. 1536670062.861723679349.53 Ltd.Times Changan Power Battery Co. 658593414.62 Ltd.Chongqing Changan Minsheng 411048880.83443503065.10 Logistics Co. Ltd.Chongqing Dajiang Dongyang Plastic 223260000.00241360000.00 Products Co. Ltd.South Air International Co. Ltd. 212005855.60 243848518.33 Chongqing Dajiang YAPP 172602914.11215540000.00 Automotive Parts Co. Ltd.Hubei Huazhong Marelli Automotive 163506022.00122400000.00 Lighting Co. Ltd.GKN HUAYU DRIVELINE 114248089.68122855842.38 SYSTEMS(CHONGQING)CO.LTD.Hunan Tianyan Machinery Co. Ltd 106130000.00 Sichuan Ningjiang Shanchuan 91509988.2180902422.85 Machinery Co. Ltd.Harbin Dongan Automotive Engine 85330000.00234620000.00 Manufacturing Co. Ltd.Chongqing Nexteer Steering System 75120000.00403879297.14 Co. Ltd. 274重庆长安汽车股份有限公司（合并） Notes to the Financial Statements For the Year 2024 The balance at the Project Name Related party Ending balance end of last year Chongqing Lingchuan Automotive Parts Manufacturing Technology Co. 72490000.00 113510000.00 Ltd.Chongqing Jianshe Automotive Air - 71180000.0014260000.00 Conditioner Co. Ltd.Tenneco Lingchuan(Chongqing)Exhaust 49811353.74 44930000.00 System Co.Ltd.Chenzhi (Chongqing) Brake System 40529388.3673980457.72 Co. Ltd.CSM Faurecia Automotive Parts Co. 39579745.73107251528.51 Ltd Hubei Xiaogan Huazhong 37590000.0035788907.01 Automobile Lighting Co. Ltd.Chongqing Shangfang Auto Parts 36905405.6841023156.32 Co. Ltd.CDGM TANAKA ENVIRONMENTAL CATALYST 34844697.82 102880000.00 CO.LTD.Chengdu Wanyou Filter Co. Ltd. 33120000.00 51120000.00 Chongqing Hanon Jianshe Automotive Thermal Systems Co. 28230000.00 77160000.00 Ltd.Chongqing Yihong Defense 18460000.0026870000.00 Technology Co. Ltd.Harbin Dongan Auto Engine Co. 18120000.0011090000.00 Ltd.Chongqing DAJIANG-JIEXIN 15470000.00340000.00 Forging Co. Ltd.司 Chongqing Construction Tongda 12403245.3315579467.79 Industrial Co. Ltd. 275重庆长安汽车股份有限公司（合并） Notes to the Financial Statements For the Year 2024 The balance at the Project Name Related party Ending balance end of last year Chengdu Lingchuan Automobile Fuel 8200000.002640000.00 Tank Co. Ltd.Chongqing Jianshe Transmission 7661891.735667059.25 Technology Co. Ltd.Southwest Ordnance Industry Chongqing Environmental Protection 7431987.51 10355405.72 Research Institute Co. Ltd Changan Reis (Chongqing) Robotic 6985797.37 Intelligent Equipment Co.Ltd Chongqing Dajiang Guoli Precision 5413950.00 Machinery Manufacturing Co. Ltd.Longchang Shanchuan Machinery 4800000.006670000.00 Co. Ltd.Chengdu Huachuan Electric Parts 2380000.00 Co.Ltd.Sichuan Jian'an Industry Co. Ltd. 2170000.00 4757300.00 Nanyang LIDA OPTIC- 440000.00 ELECTRONICS Co. Ltd.Chongqing Wanyou Economic 377400.96 Development Co. Ltd.Chongqing Chang'an Intelligent Industrial Technology Service Co. 327000.49 Ltd.Hunan Tianyan Machinery Co. Ltd 97750000.00 Other Payables Chongqing Changan Minsheng 852862018.72500998344.99 Logistics Co. Ltd.Chongqing Changxian Intelligent 55384464.59 Technology Co. Ltd Times Changan Power Battery Co. 42857507.55 Ltd. 276重庆长安汽车股份有限公司（合并） Notes to the Financial Statements For the Year 2024 The balance at the Project Name Related party Ending balance end of last year Chongqing Tsingshan Industrial Co. 22153385.8918225258.51 Ltd.Jiangsu Wanyou Automobile Sales 10001282.0012433698.10 and Service Co. Ltd.Chengdu Wanyou Xiangyu Automobile Sales and Service Co. 8774856.00 9558725.84 Ltd.Yunnan Wanyou Auto Sales Service 7371200.007847297.00 Co. Ltd.Chongqing Wanyou Talent Service 7338194.24 Co. Ltd.Chongqing Dajiang Guoli Precision 6617050.0099087.65 Machinery Manufacturing Co. Ltd.Chongqing Wanyou Economic 6499209.009733185.00 Development Co. Ltd.Chang'an Automotive Sales Tianjin 5452253.104967547.10 Co.Ltd.China Changan Automobile Group 4697870.54 Co. Ltd.Guizhou Wanyou Automobile Sales 4624832.004854300.00 and Service Co. Ltd.Chongqing Chang'an Intelligent Industrial Technology Service Co. 4021249.68 4000701.62 Ltd.Sichuan Jian'an Industry Co. Ltd. 3939084.64 1670420.64 Chongqing Chang'an Real Estate 3815050.704291910.22 Management Co.Ltd.Chongqing Nexteer Steering System 3670690.241238092.98 Co. Ltd.Chengdu Wanyou Auto Sales Service 3130000.003200000.00 Co.Ltd. 277重庆长安汽车股份有限公司（合并） Notes to the Financial Statements For the Year 2024 The balance at the Project Name Related party Ending balance end of last year Southwest Ordnance Industry Chongqing Environmental Protection 2500147.84 6567229.16 Research Institute Co. Ltd Chongqing Wanyou Zunda Automobile Sales and Service Co. 2333117.83 213235.41 Ltd South Air International Co. Ltd. 1963075.46 3885605.94 Avita Technology (Chongqing) Co. 1898924.58 Ltd.Chongqing Chang`an Industry 1074923.61875856.10 (GROUP) Co. Ltd.Chengdu Wanyou Filter Co. Ltd. 873484.00 939532.50 Chengdu Wanyou Auto Trade Service 792364.002041261.84 Co. Ltd.Wanyou Automobile Investment Co. 778154.00 Ltd.Anhui Wanyou Automobile Sales and 748157.00938180.00 Service Co. Ltd Chongqing Wanyou Xingjian Automobile Sales and Service Co. 470000.00 441740.00 Ltd Chenzhi (Chongqing) Brake System 459501.9081873.02 Co. Ltd.Changan Ford Motor Co. Ltd 459267.98 752549.61 Shanghai Jiaxing Automotive Service 448272.5010098882.10 Co. Ltd.GKN HUAYU Driveline Systems 415865.9989598.75 (Chongqing) Co. Ltd. Chongqing Wanyou Ducheng 336100.00737780.00 Automotive Sales Service Co.Ltd. 278重庆长安汽车股份有限公司（合并） Notes to the Financial Statements For the Year 2024 The balance at the Project Name Related party Ending balance end of last year Ya'an Wanyou Automobile Sales and 314830.002100513.14 Service Co. Ltd Beijing North Changfu Automobile 300000.00200000.00 Sales Co. Ltd Harbin Dongan Automotive Engine 290749.0012665.04 Manufacturing Co. Ltd.Chongqing Wanyou Advertising 250174.50 Co.Ltd.Jiangling Holdings Co. Ltd. 232185.41 Chenzhi Technology Co. Ltd. 203400.00 Chongqing TINNOVE Technology 173532.45 Co. Ltd.Baoding Tianwei Group Tebian 150000.00 Electric Co.Ltd.China Weapon Equipment Group 150000.0044850.00 Co.ltd.Chongqing Wanyou Chengxing Automobile Sales and Service Co. 117097.00 120000.00 Ltd Chongqing Shangfang Auto Parts 115745.90215604.00 Co. Ltd.Luzhou Wanyou Automotive Service 100000.00221800.00 Co.Ltd.Sichuan Ningjiang Shanchuan 89719.3084283.54 Machinery Co. Ltd.Chongqing Changxiang Supply 60000.00 Chain Technology Co. Ltd.United Automotive Electronic 56500.00159089.20 Systems (Chongqing) Co. Ltd. 279重庆长安汽车股份有限公司（合并） Notes to the Financial Statements For the Year 2024 The balance at the Project Name Related party Ending balance end of last year China Ordnance Equipment Group Automation Research Institute Co. 54000.00 Ltd.Dali Wanfu Automotive Sales Service 47538.001691.00 Co.Ltd.Hubei Huazhong Marelli Automotive 42810.00411875.16 Lighting Co. Ltd.Chongqing Changan Minsheng 40115.00 Fuyong Logistics Co.Ltd.Chongqing Dajiang YAPP 27653.3617514.74 Automotive Parts Co. Ltd.Changan Mazda Engine Co. Ltd. 20982.88 Chenzhi (Chengdu) Intelligent 16624.56 Suspension Co. Ltd.Chongqing Chang'an Real Estate 12425.01 Management Co.Ltd.Hubei Xiaogan Huazhong 4483.80 Automobile Lighting Co. Ltd.Changan Reis (Chongqing) Robotic 7439420.93 Intelligent Equipment Co.Ltd CSM Faurecia Automotive Parts Co. 2292829.98 Ltd Chongqing Lingchuan Automotive Parts Manufacturing Technology Co. 681921.10 Ltd.Chengdu Huachuan Electric Parts 237375.50 Co.Ltd.CDGM TANAKA ENVIRONMENTAL CATALYST 229627.31 CO.LTD. 280重庆长安汽车股份有限公司（合并） Notes to the Financial Statements For the Year 2024 The balance at the Project Name Related party Ending balance end of last year CHONGQING DAJIANG XINDA VEHICLE SHARE LIMITED 100000.00 COMPANY Chongqing Jianshe Transmission 88358.88 Technology Co. Ltd.Hunan Tianyan Machinery Co. Ltd 21696.00 Chongqing Construction Tongda 1343.94 Industrial Co. Ltd.Chongqing Yihong Defense 159.91 Technology Co. Ltd.Contract Liabilities Jiangsu Wanyou Automobile Sales 460178281.2826589072.67 and Service Co. Ltd.Chengdu Wanyou Xiangyu Automobile Sales and Service Co. 330410033.39 110584225.04 Ltd.Guizhou Wanyou Automobile Sales 266786932.6468070242.12 and Service Co. Ltd.Wanyou Automobile Investment Co. 256445461.5023183182.96 Ltd.Chongqing Wanyou Economic 135302227.6262975674.47 Development Co. Ltd.Chongqing Wanyou Zunda Automobile Sales and Service Co. 93816530.50 89057725.73 Ltd Yunnan Wanyou Auto Sales Service 80298461.0555836423.36 Co. Ltd.Anhui Wanyou Automobile Sales and 31250458.319994433.27 Service Co. Ltd 281重庆长安汽车股份有限公司（合并） Notes to the Financial Statements For the Year 2024 The balance at the Project Name Related party Ending balance end of last year Chang'an Automotive Sales Tianjin 21790090.238118237.92 Co.Ltd.Master Changan Automobile Co. Ltd. 9876498.33 6452463.66 Chongqing Fujit Supply Chain 8940530.23 Management Co. Ltd.Nanchang Jiangling Group Tianren 6065663.72 Auto Parts Co. Ltd.Avita Technology (Chongqing) Co. 5060580.84970882.61 Ltd.Chengdu Wanyou Auto Trade Service 4566319.9316498448.61 Co. Ltd.Changan Auto Finance Co. Ltd. 2174120.64 606371.68 Institute of Ordnance Equipment China South Industries Group 672005.97 Corporation Chengdu Wanyou Trade Co.Ltd. 392425.29 15049.38 Beijing Beifang Changfu Auto Sales 233663.00 Co.Ltd.Chongqing Wanyou Ducheng 188446.30207654.20 Automotive Sales Service Co.Ltd.Chongqing Changan Minsheng 180446.22271047.12 Logistics Co. Ltd.Chongqing Wanyou Chengxing Automobile Sales and Service Co. 79366.08 Ltd Chongqing Wanyou Xingjian Automobile Sales and Service Co. 71314.96 66275.60 Ltd Panzhihua Wanyou Automobile Sales 25980.3932689.44 and Service Co. Ltd 282重庆长安汽车股份有限公司（合并） Notes to the Financial Statements For the Year 2024 The balance at the Project Name Related party Ending balance end of last year Chongqing Chang`an Industry 12585.75 (GROUP) Co. Ltd.Ya'an Wanyou Automotive Sales 10596.14112302.96 Service Co.Ltd.Changan Mazda Automobile 5595.44 Corporation Ltd.Luzhou Wanyou Automotive Service 4678.5654775.96 Co.Ltd.Chongqing Shangfang Auto Parts 3522.123522.12 Co. Ltd.Dali Wanfu Automotive Sales Service 2914.2046416.87 Co.Ltd.Changan Ford Motor Co. Ltd 0.32 0.32 Chongqing Wanyou Advertising 9803782.94 Co.Ltd.Hafeimotor Co. Ltd. 417648.22 Chengdu Wanyou Auto Sales Service 345372.38 Co.Ltd.Bazhong Wanyou Automotive Sales 44625.20 Service Co.Ltd.China Changan Automobile Group 9091.15 Hefei Investment Co. Ltd Yunnan Wanxing Automobile Sales 87.61 and Service Co. Ltd. 283重庆长安汽车股份有限公司（合并） Notes to the Financial Statements For the Year 2024 XIII、 Share-based Payment (I) Overall Situation of Share - based Payment The equity instruments granted in All types of equity instruments All equity instruments exercised in All equity instruments that became Grantee the current period unlocked in the current period the current period invalid in the current period Quantity Amount Quantity Amount Quantity Amount Quantity Amount Employee 50097694.00 180583638.20 3202973.00 11464098.02 Total 50097694.00 180583638.20 3202973.00 11464098.02 284重庆长安汽车股份有限公司（合并） Notes to the Financial Statements For the Year 2024 (II) Share - based payment expense Amount for the current period Amount for the previous period Grant Equity - Cash-settled Equity - settled Cash-settled recipient settled share - share-based Total share - based share-based Total based payment payment payment payment Employee 89968232.48 89968232.48 362576400.00 362576400.00 Total 89968232.48 89968232.48 362576400.00 362576400.00 XIV、 Commitments and Contingencies (I) Material Commitment Items 1、 Significant commitments as of the balance sheet date contracted but not provided for Balance at the end of the Ending balance previous year Capital commitment 9375924598.30 11619677925.31 Investment commitment 1326750000.00 1132500000.00 Total 10702674598.30 12752177925.31 285重庆长安汽车股份有限公司（合并） Notes to the Financial Statements For the Year 2024 XV、 Events occurring after the balance sheet date (I) Profit distribution situation The profit distribution proposal reviewed and approved by the company's current board of directors is as follows: Based on the total share capital of 9914086060 shares a cash dividend of 2.95 yuan (including tax) will be distributed to all shareholders for every 10 shares and no share capital will be increased by capital reserve.(II) Matters regarding the proposed change of the controlling shareholder On February 9 2025 our company received a notice from China South Industries Group Corporation (hereinafter referred to as "CSGC") our indirect controlling shareholder.CSGC is currently planning restructuring matters with other state-owned central enterprises groups. This restructuring may lead to a change in the controlling shareholder of our company but it will not result in a change in the actual controller. The relevant arrangements still need to go through the required procedures and obtain the approval of the relevant competent authorities. This restructuring will not have a significant impact on the normal production and business operations of our company.XVI、 Capital Management Balance at the end of the Ending balance previous year Total liabilities 129087561718.76 115487870299.24 Less: Cash and cash equivalents 63274376513.00 63925957901.11 Adjusted net debt 65813185205.76 51561912398.13 Owner's Equity 79080599242.10 74683256839.03 Adjusted debt - to - capital ratio 83.22% 69.04% XVII、 Other Important matters On November 7 2024 the People's Government of Yubei District Chongqing issued an announcement confirming the "Housing Expropriation Project on State-Owned Land at Changan Yubei Old Factory". On December 25 2024 the Housing and Urban-Rural Development Committee of Yubei District Chongqing signed the "Expropriation Agreement for Housing on State-Owned Land in Yubei District Chongqing" with Changan Automobile. The agreement stipulated: 286重庆长安汽车股份有限公司（合并） Notes to the Financial Statements For the Year 2024 (1) The expropriation compensation fee is a comprehensive compensation cost totaling 25.58 billion yuan. The payment will be made in installments: 30% (7.64 billion yuan) will be paid to Changan Automobile within five working days after the agreement takes effect and the final payment will be completed within 15 working days after Changan Automobile vacates and delivers the expropriated houses and land by September 30 2027. (2) After this agreement takes effect Changan Automobile shall cooperate with the Housing and Urban-Rural Development Committee of Yubei District to complete the cancellation of the housing property rights within two working days. Changan Automobile shall vacate and deliver the expropriated houses and land by September 30 2027. Changan Automobile completed the cancellation of the property rights certificate on December 26 2024.Changan Automobile negotiated with Chongqing Zhanxin Technology & Industry Group Company Limited the government-designated asset reception and management unit after the expropriation of the land and houses at the Yubei Old Factory. Both parties agreed that during the vacating period Changan Automobile would use the land and houses of the Yubei Old Factory through a lease agreement. In the housing expropriation project on state- owned land at the Yubei Old Factory Changan Automobile confirmed asset disposal gains of 22.08 billion yuan.XVIII、 Notes to the main items in the financial statements of the parent company (I) Accounts receivable 1、 Accounts receivable disclosure by age of accounts Balance at the end of the Account age Ending balance previous year Less than 1 year (including 1 year) 13241984905.86 7757039345.74 1 to 2 years (including 2 years) 6270173.42 4629777.82 2 to 3 years (including 3 years) 440347.77 713934590.78 Over 3 years 653299180.59 172295427.89 Subtotal 13901994607.64 8647899142.23 Less：Provision 66843763.12 68395117.00 Total 13835150844.52 8579504025.23 287重庆长安汽车股份有限公司（合并） Notes to the Financial Statements For the Year 2024 2、 Accounts receivable disclose according to the classification of bad debt provision methods Ending balance Balance at the end of the previous year Balance Provision Balance Provision Category Provision Provision Carrying value Provision Provision Carrying value Amount Amount Amount Amount （%）（%）（%）（%） Make provisions on an individual 13684986268.6498.4437652846.200.2813647838031.508521036971.3598.5337652846.200.448483384125.15 item basisProvision Provision for bad debts is made by 217008339.001.5629190916.9213.45187312813.02126862170.881.4730742270.8024.2396119900.08 combining credit risk characteristics Total 13901994607.64 100.00 66843763.12 13835150844.52 8647899142.23 100.00 68395117.00 8579504025.23 288重庆长安汽车股份有限公司（合并） Notes to the Financial Statements For the Year 2024 Provision for bad debts is made by combining according to the characteristics of credit risk Ending balance Name Accounts receivable bad debt provision provision ratio（%） Less than 1 year 183909138.6733.160.00 (including 1 year) 1 to 2 years (including 2 1288642.5717.150.00 years) 2 to 3 years (including 3 227476.01194.610.09 years) Over 3 years 31583081.75 29190672.00 92.43 合计217008339.0029190916.92 3、 The provision reversal or recovery of bad debt provisions in the current period Balance at the Amount of change in the current period Ending Category end of the Provide Recover or Write - off or Other changes balance previous year for reverse cancel Make provisions on an 37652846.2 37652846.20 individual item 0 basis Provision Make provisions for bad debts based 29190916.9 30742270.801551353.88 on combinations 2 of credit risk characteristics. 66843763.1 Total 68395117.00 1551353.88 2 289重庆长安汽车股份有限公司（合并） Notes to the Financial Statements For the Year 2024 4、 The information on the accounts receivable and contract assets of the top five debtors in terms of the ending balance by debtor - by - debtor aggregation is as follows: As of December 31 2024 the total balance of the top five accounts receivable amounted to 10664617393.91 yuan accounting for 76.71% of the total ending balance of accounts receivable.(II) Other receivables Balance at the end of Item Ending balance the previous year Other receivables item 1487531844.07 237247787.26 Total 1487531844.07 237247787.26 1、 Other receivables item （1）disclosure by age of accounts Balance at the end of the Account age Ending balance previous year Less than 1 year (including 1 year) 1466768959.69 231794668.72 1 to 2 years (including 2 years) 19739543.35 3543202.13 2 to 3 years (including 3 years) 1987846.67 Over 3 years 8089565.38 6930932.77 Subtotal 1494598068.42 244256650.29 Less：Provision 7066224.35 7008863.03 Total 1487531844.07 237247787.26 290重庆长安汽车股份有限公司（合并） Notes to the Financial Statements For the Year 2024 （2）disclose according to the classification of bad debt provision methods Ending balance Balance at the end of the previous year Balance Provision Balance Provision Category Provision Provision Carrying value Provision Provision Carrying value Amount Amount Amount Amount （%）（%）（%）（%） Make provisions on an individual item 1376142201.42 92.07 6842932.77 0.50 1369299268.65 173323245.26 70.96 6842932.77 3.95 166480312.49 basisProvision Provision for bad debts is made by combining according to the 118455867.00 7.93 223291.58 0.19 118232575.42 70933405.03 29.04 165930.26 0.23 70767474.77 characteristics of credit risk Total 1494598068.42 100.00 7066224.35 1487531844.07 244256650.29 100.00 7008863.03 237247787.26 291重庆长安汽车股份有限公司（合并） Notes to the Financial Statements For the Year 2024 Make provisions for bad debts by grouping according to credit risk characteristics Ending balance Designation Other Provision Provision（%） receivables Less than 1 year (including 1 111198467.1923504.390.02 year) 1 to 2 years (including 2 years) 5530337.90 17627.04 0.32 2 to 3 years (including 3 years) Over 3 years 1727061.91 182160.15 10.55 Total 118455867.00 223291.58 （3）The provisioning situation for bad debts Stage 1 Stage 2 Stage 3 Expected credit Expected credit losses over the losses over the Expected credit Provision entire expected entire expected Total losses in the next life (no credit life (credit 12 months impairment has impairment has occurred) occurred) Balance at the end of the 165930.266842932.777008863.03 previous year Balance at the end of the previous yearin this period --Transfer to Stage 2 --Transfer to Stage 3 --Reverse to Stage 2 -Reverse to Stage 1 Provision made in this 57361.3257361.32 period Reversal in this period 292重庆长安汽车股份有限公司（合并） Notes to the Financial Statements For the Year 2024 Stage 1 Stage 2 Stage 3 Expected credit Expected credit losses over the losses over the Expected credit Provision entire expected entire expected Total losses in the next life (no credit life (credit 12 months impairment has impairment has occurred) occurred) Write - off in this period Write-off during the current period Other changes Ending balance 223291.58 6842932.77 7066224.35 The changes in the book balance of other receivables are as follows: Stage 1 Stage 2 Stage 3 Expected credit Expected credit losses over the Expected credit losses over the Balance entire expected Total losses in the next entire expected life life (no credit 12 months (credit impairment impairment has has occurred) occurred) Balance at the end of 237413717.526842932.77244256650.29 the previous year Balance at the end of the previous year in this period --Transfer to Stage 2 --Transfer to Stage 3 --Reverse to Stage 2 --reverse to Stage 1 new addition in the 1494191261.041494191261.04 current period 293重庆长安汽车股份有限公司（合并） Notes to the Financial Statements For the Year 2024 Stage 1 Stage 2 Stage 3 Expected credit Expected credit losses over the Expected credit losses over the Balance entire expected Total losses in the next entire expected life life (no credit 12 months (credit impairment impairment has has occurred) occurred) derecognized in the 243849842.91243849842.91 current period Other changes Ending balance 1487755135.65 6842932.77 1494598068.42 （4）The situation of provision reversal or recovery of bad debt provisions in the current period Balance at the end Amount of change in the current period Category of the previous recovery or Write - off or Ending balance provide for Other changes year reversal cancel Make provisions on an individual 6842932.77 6842932.77 item basis Provision Provide for bad debts by combining according to 165930.26 57361.32 223291.58 the characteristics of credit risk Total 7008863.03 57361.32 7066224.35 （5）Classification of amounts according to their nature 294重庆长安汽车股份有限公司（合并） Notes to the Financial Statements For the Year 2024 Book balance at the end of the Nature of the funds Ending balance of the account previous year Pre - paid equity investment 1276200803.10109286581.45 funds Subsidy receivable 76563193.00 31782936.00 Petty cash 44505591.24 69048305.62 Internal transactions 16535272.55 25410795.04 others 80793208.53 8728032.18 Total 1494598068.42 244256650.29 （6）Information on the top five other receivables by ending balance grouped by debtors at the end of the period.As of December 31 2024 the total ending balance of the top five other receivables amounted to 1400384406.77 yuan accounting for 93.70% of the total ending balance of other receivables.(III) long - term equity investment Ending balance Balance at the end of the previous year Item impairment impairment Balance Carrying value Balance Carrying value provision provision Investment in 9021409139.1249194195.008972214944.127722549139.1249194195.007673354944.12 subsidiaries Investment in associated and joint venture 16410122824.34 16410122824.34 11762095077.25 11762095077.25 enterprises Total 25431531963.46 49194195.00 25382337768.46 19484644216.37 49194195.00 19435450021.37 295重庆长安汽车股份有限公司（合并） Notes to the Financial Statements For the Year 2024 1、 Investment in associated and joint venture enterprises Increase or decrease changes in the current period impairment Investment income Adjustment of Declare the impairment Balance at the end provisionBalance Investee Additional Reduce and losses other distribution of cash impairment Ending balance provisionEnding of the previous year at the end of the Other equity changes others investment investment recognized under comprehensive dividends or provision balance previous year the equity method income profits 1、Joint venture Changan Ford Automobile Co. 712215024.57 712215024.57 Ltd.Changan Mazda Automobile Co. 878239492.13 -144273889.67 733965602.46 Ltd.Changan Mazda 805005706.401506045.10806511751.50 Engine Co. Ltd.Nanchang Jiangling 2106206520.20313351270.081193152.922420750943.20 Investment Co.Ltd. 296重庆长安汽车股份有限公司（合并） Notes to the Financial Statements For the Year 2024 Increase or decrease changes in the current period impairment Investment income Adjustment of Declare the impairment Balance at the end provisionBalance Investee Additional Reduce and losses other distribution of cash impairment Ending balance provisionEnding of the previous year at the end of the Other equity changes others investment investment recognized under comprehensive dividends or provision balance previous year the equity method income profits Subtotal 3789451718.73 882798450.08 1193152.92 4673443321.73 2、Associated enterprise Chongqing Changan Kuayue 228765251.64 15760452.33 -3430000.00 241095703.97 Vehicle Co. Ltd.Changan Auto 3041392973.86352498662.97-94588250.823299303386.01 Finance Co. Ltd.Nanjing CheLai Mobility 584824.65-258011.64326813.01 Technology Co.Ltd.Hunan Guoxin 28502232.09731114.48-1064179.4928169167.08 Semiconductor 297重庆长安汽车股份有限公司（合并） Notes to the Financial Statements For the Year 2024 Increase or decrease changes in the current period impairment Investment income Adjustment of Declare the impairment Balance at the end provisionBalance Investee Additional Reduce and losses other distribution of cash impairment Ending balance provisionEnding of the previous year at the end of the Other equity changes others investment investment recognized under comprehensive dividends or provision balance previous year the equity method income profits Technology Co.Ltd.Nanjing Linghang Equity Investment Partnership 2645793326.69 473124694.92 3118918021.61 (Limited Partnership) Nanjing Linghang Equity Investment 1107400.12-6679.241100720.88 Management Co.Ltd.China Automotive Technology and 448515220.54-18766519.68429748700.86 Research Institute Co. Ltd. 298重庆长安汽车股份有限公司（合并） Notes to the Financial Statements For the Year 2024 Increase or decrease changes in the current period impairment Investment income Adjustment of Declare the impairment Balance at the end provisionBalance Investee Additional Reduce and losses other distribution of cash impairment Ending balance provisionEnding of the previous year at the end of the Other equity changes others investment investment recognized under comprehensive dividends or provision balance previous year the equity method income profits Chongqing Changxin Zhiqi Private Equity Investment Fund 204518396.38 20090000.00 51626019.73 276234416.11 Partnership (LimitedPartnership)”。 Anhe Chongqing Dingfeng Automotive 61692352.41369799.5662062151.97 Contract - type Private Equity Investment Fund 299重庆长安汽车股份有限公司（合并） Notes to the Financial Statements For the Year 2024 Increase or decrease changes in the current period impairment Investment income Adjustment of Declare the impairment Balance at the end provisionBalance Investee Additional Reduce and losses other distribution of cash impairment Ending balance provisionEnding of the previous year at the end of the Other equity changes others investment investment recognized under comprehensive dividends or provision balance previous year the equity method income profits Avita Technology (Chongqing) Co. 938097973.56 4300474961.00 -1646857046.27 161011.66 9130235.56 3601007135.51 Ltd.Chongqing Chang'an Chuangxin Private Equity Investment 70104473.99 68813333.00 24104733.13 163022540.12 Fund Partnership (Limited Partnership) Chongqing Changyu Private 69600000.00-926505.8868673494.12 Equity Investment Fund Partnership 300重庆长安汽车股份有限公司（合并） Notes to the Financial Statements For the Year 2024 Increase or decrease changes in the current period impairment Investment income Adjustment of Declare the impairment Balance at the end provisionBalance Investee Additional Reduce and losses other distribution of cash impairment Ending balance provisionEnding of the previous year at the end of the Other equity changes others investment investment recognized under comprehensive dividends or provision balance previous year the equity method income profits (Limited Partnership) Chongqing Changxian Intelligent 103217635.38 10696347.64 113913983.02 Technology Co.Ltd.Chang'an Ford New Energy Vehicle 67713664.93 64331740.38 132045405.31 Technology Co.Ltd Chenzhi Anqi (Chongqing) 10800000.00 4724.73 10804724.73 Recycling 301重庆长安汽车股份有限公司（合并） Notes to the Financial Statements For the Year 2024 Increase or decrease changes in the current period impairment Investment income Adjustment of Declare the impairment Balance at the end provisionBalance Investee Additional Reduce and losses other distribution of cash impairment Ending balance provisionEnding of the previous year at the end of the Other equity changes others investment investment recognized under comprehensive dividends or provision balance previous year the equity method income profits Technology Co.Ltd.Times Changan Power Battery 132637632.28 133000000.00 -75384493.98 190253138.30 Co. Ltd.Subtotal 7972643358.52 4602778294.00 -748950966.82 161011.66 9130235.56 -99082430.31 11736679502.61 Total 11762095077.25 4602778294.00 133847483.26 1354164.58 9130235.56 -99082430.31 16410122824.34 302重庆长安汽车股份有限公司（合并） Notes to the Financial Statements For the Year 2024 (IV) Operating revenue and cost 1、 The situation of operating revenue and operating cost Amount for the current periodt Amount for the previous periodt Item Revenue Cost Revenue Cost Primary 103756091138.7793855900221.80111283143529.6496187998062.72 Operation Other 8152625537.244199262930.207414890253.133451631559.23 Operation Total 111908716676.01 98055163152.00 118698033782.77 99639629621.95 (V) Investment income Amount for the Amount for the Item current periodt previous periodt Investment income from long - term equity - accounted 133847483.26-2157754465.24 investments Investment income arising from the disposal of long- 1.00 term equity investments Investment income from long - term equity 594000000.00722850000.00 investments accounted for under the cost method Investment income obtained during the holding period 2631315.721406842.07 of transactional financial assets Dividend income from other equity instrument 31990679.50206042574.04 investments that are still held Fixed - term deposit interest and others 88769779.77 3223611.10 Total 851239258.25 -1224231437.03 XIX、 Supplementary Information (一) Schedule of Non - recurring Gains and Losses for the Current Period 303重庆长安汽车股份有限公司（合并） Notes to the Financial Statements For the Year 2024 Item Amount Explanation Gain or loss on disposal of non - current assets including the reversal of the provision for asset impairment that has 2550458320.83 been made.Government subsidies recognized in the current profit and loss excluding those government subsidies that are closely related to the company's normal business operations 1627457923.14 comply with the provisions of national policies are enjoyed according to certain standards and have a continuous impact on the company's profit and loss.Except for the effective hedging operations related to the company's normal business operations the fair value change gains and losses arising from the non - financial -16650665.50 enterprise's holding of financial assets and financial liabilities as well as the gains and losses arising from the disposal of financial assets and financial liabilities.Fund occupation fees charged to non - financial 91188204.08 enterprises recognized in the current profit and loss.Reversal of impairment provision for accounts receivable 4068950.07 that is tested for impairment individually.Other non - operating income and expenses other than the 133244432.31 above items Other profit and loss items that meet the definition of non 1014345065.86 - recurring profit and loss.Subtotal 5404112230.79 The amount of impact from income tax 592833534.16 The impact amount of minority shareholders' equity (after 77186452.29 tax) Total 4734092244.34 (I) Return on Net Assets and Earnings per Share 304重庆长安汽车股份有限公司（合并） Notes to the Financial Statements For the Year 2024 Earnings per Share (yuan) Weighted average Diluted Profit for the reporting period return on net assets Basic Earnings Earnings per （%） per Share (EPS) Share (EPS) Net profit attributable to common 9.690.740.74 shareholders of the company Net profit attributable to common 3.430.260.26 shareholders of the company 305