江 铃Ｂ：2012年第三季度报告全文（英文版） .ppt

Shares name:,Jiangling Motors,Shares code:,000550,No.:,2012-040,Jiangling B,200550,Jiangling Motors Corporation,Ltd.2012 Third Quarter Report,1,Important Note,1.1 The Board of Directors and its members,the Supervisory Board and itsmembers,and the senior executives are jointly and severally liable for thetruthfulness,accuracy and completeness of the information disclosed in thereport and confirm that the information disclosed herein does not contain falsestatements,misrepresentations or major omissions.1.2 The Directors,Supervisors,and Senior Management undertake and haveno objection to the truthfulness,accuracy and completeness of the contents ofthe Third Quarter Report.1.3 All the Directors were present at the Board meeting.1.4 The financial statements in this Quarterly Report are not audited.1.5 Chairman Wang Xigao,President Yuan-Ching Chen,CFO Dennis Leu andChief of Finance Department,Ding Ni,confirm that the financial statements inthis Quarterly Report are truthful and complete.1.6 All financial data in this Quarterly Report are prepared under InternationalFinancial Reporting Standards(IFRS)unless otherwise specified.1,0,-,-,-,-,2,Brief Introduction,2.1 Main accounting data and financial indicatorsUnit:RMB000,At the end ofreporting period,At the end of theprevious year,Change(%),Total Assets,11,854,706,11,819,855,0.29,Shareholders equity,Attributable to the Equity,7,743,076,7,311,768,5.90,Holders of the Company,Share CapitalNet Assets Per Share,863,214,863,214,Attributable to the EquityHolders of the Company,8.97,8.47,5.90,(RMB),Reportingperiod(2012 thirdquarter),Change(%),Beginning ofyear toend ofreportingperiod,Change(%),Revenue,4,024,256,-1.56,12,745,785,-4.24,Profit Attributable to the,Equity Holders of the,334,774,-16.28,1,173,672,-20.42,Company,Net Cash Generated FromOperating ActivitiesNet Cash Flow Per Sharefrom Operating Activities(RMB),1,250,5081.45,188.80188.80,Basic Earnings Per Share(RMB)Diluted Earnings Per Share(RMB)Weighted Average Return onNet Asset Ratio(%),0.390.394.73,-16.28-16.28Down 1.65percentagepoints,1.361.3615.18,-20.42-20.42Down 6.79percentagepoints,2,2.2 Total number of shareholders and top ten shareholders holding unlimitedtradable shares as at the end of reporting periodTotal shareholders at the JMC had 25,352 shareholders,including 19,345 A-share,end of reporting period,holders and 6,007 B-share holders,as of September 30,2012.,Top ten shareholders holding unlimited tradable shares,NameJiangling Motor Holding Co.,Ltd.Ford Motor CompanyHuaan Tactical Select Securities Investment FundShanghai Automotive Co.,Ltd.National Social Security Fund-Portfolio 102Dragon Billion China Master FundJpmblsa Re Ftif Templeton China Fund Gti 5497New China Select Securities Investment FundInvesco Funds SicavGaoling Fund,L.P.,Shares as ofSeptember 30,2012354,176,000258,964,20025,432,97313,019,61011,234,0918,723,6465,035,2634,877,6614,698,1093,712,073,Share TypeA shareB shareA shareA shareA shareB shareB shareA shareB shareB share,3,Major Events,3.1 Causes and explanations of major changes of financial indicatorscompared with those of previous reporting periodApplicable Not ApplicableIn the first nine months of 2012,the Company achieved a sales volume of148,135 units,including 51,803 JMC-brand trucks,55,481 JMC-brand pickupsand SUVs,and 40,851 Ford-brand commercial vehicles.Total sales volumewas down 1%from the same period last year.Under IFRS,revenue and netprofit for the first nine months of 2012 was RMB 12,746 million and RMB 1,174million,down 4%and 20%respectively from the same period last year.In the third quarter of 2012,net profit was RMB 335 million,down 16.3%fromthe same period last year,primarily reflecting strategic pricing actions,mixchanges and higher product development expenses.Deferred income tax assets at the end of reporting period decreased by RMB79 million,down 31%from the end of 2011,primarily reflecting adjustment ofincome tax rate from 25%to 15%due to the Company passing thereexamination of hi-tech enterprise.Held-to-maturity investment at the end of reporting period increased by RMB100 million,primarily reflecting central bank bills increase.Administrative expenses in the third quarter increased by RMB 134 million,up71%compared with the same period last year,primarily reflecting productdevelopment expenses increase.3,Income tax expense in the third quarter decreased by RMB 20 million,down31%compared with the same period last year,primarily reflecting profitdecrease.2012 Year-to-date net cash generated from operating activities was RMB1,251 million,increased by RMB 818 million,up 189%compared with thesame period last year,reflecting primarily favorable working capital changes.2012 Year-to-date net cash used in investing activities was RMB 1,025 million,increased by RMB 535 million,up 109%compared with the same period lastyear,mainly reflecting higher Xiaolan Site program investments.3.2 Analysis of major events,their impacts and resolutions3.2.1 Abnormal audit report,Applicable,Not Applicable,3.2.2 Funds provided for the controlling shareholder and its related parties,oroutside guarantee in breach of the laws and regulations,Applicable,Not Applicable,3.2.3 Signature and implementation of major contract regarding routineoperation activities,Applicable3.2.4 OthersApplicable,Not ApplicableNot Applicable,3.3 Commitments made by the Company or the shareholder holding 5%ormore of the Company shares during the reporting periodApplicable Not Applicable3.4 Warning and explanations as to the situation that accumulated net profitduring the period from year beginning to the end of next reporting period maybe negative or,compared with the same period last year,may have asubstantial changeApplicable Not Applicable3.5 Explanations on other major events3.5.1 Securities investments,Applicable,Not Applicable,3.5.2 Securities derivates investment,Applicable,Not Applicable,4,3.5.3 External research and media interviews with the Company in thereporting period,Date,Place,Communication,Type of,Object,Information discussed,Method,Object,and sources offered,July 4,2012,In theCompany,OralCommunication,Institution,Three analysts from GoldenSun Securities Company,JMC Operatinghighlights,Founder Securities Co.,Ltd.,Jiafu Longzhou ConsultingCompany,August 29,2012,In theCompany,OralCommunication,Institution,Two analysts from FirstState Investments(Hong,JMC Operatinghighlights,Kong)Limited,September27,2012,In theCompany,OralCommunication,Institution,An analyst from Huaan FundManagement Co.,Ltd.,JMC Operatinghighlights,3.5.4 Issuance of Corporation Bond,Applicable,Not Applicable,Board of DirectorsJiangling Motors Corporation,Ltd.October 27,20125,-,-,AppendixJiangling Motors Corporation,Ltd.Consolidated Balance Sheet(Prepared under International Financial Reporting Standards),(All amounts in RMB thousands)ASSETSNon-current assetsProperty,plant and equipmentLease prepaymentIntangible assetsInvestments in associatesDeferred income tax assetsCurrent assetsFinancial assets for tradingInventoriesTrade and other receivablesHeld-to-maturity investmentCash and cash equivalentsTotal assetsEQUITYCapital and reserves attributableto the Companys equity holdersShare capitalShare premiumOther reservesRetained earningsNon-controlling interestsTotal equityLIABILITIESNon-current liabilitiesBorrowingsRetirement benefit obligationsWarranty provisionsCurrent liabilitiesFinancial liabilities held for tradingTrade and other payablesCurrent income tax liabilitiesBorrowingsRetirement benefits obligationsTotal liabilitiesTotal equity and liabilities,30 September2012*3,889,823266,45517,08823,714171,6214,368,701121,218,1661,333,621100,0004,834,2067,486,00511,854,706863,214816,609457,6505,605,6037,743,076104,1027,847,1786,02142,931158,159207,1113,782,4936,79541510,7143,800,4174,007,52811,854,706,31 December20113,271,690271,34721,95417,851250,1823,833,024-1,140,2531,461,6015,384,9777,986,83111,819,855863,214816,609457,6505,174,2957,311,768115,3527,427,1206,18952,198140,855199,2426,6964,167,7957,87541310,7144,193,4934,392,73511,819,855,*:Unaudited financial indexes6,Jiangling Motors Corporation,Ltd.Consolidated Income Statement(Prepared under International Financial Reporting Standards),(All amounts in RMB thousands)RevenueSales taxCost of salesGross profitDistribution costsAdministrative expensesOther income/(expenses)Operating profitFinance incomeFinance costsFinance income-netShare of profit of associatesProfit before income taxIncome tax expenseProfit for the period,2012.7.1-2012.9.30*4,024,256(101,409)(3,008,147)914,700(254,949)(322,404)(1,580)335,76746,597(1,443)45,1542,451383,372(44,501)338,871,2011.7.1-2011.9.30*4,087,971(125,137)(3,074,365)888,469(270,320)(188,552)1,954431,55138,978(1,276)37,7021,728470,981(64,928)406,053,2012.1.1-2012.9.30*12,745,785(357,379)(9,599,166)2,789,240(806,530)(697,595)6,8691,291,984162,259(1,951)160,3085,8631,458,155(264,997)1,193,158,2011.1.1-2011.9.30*13,309,511(387,856)(10,066,862)2,854,793(672,713)(549,745)2,6331,634,968119,411(1,846)117,5654,9571,757,490(253,037)1,504,453,Profit attributable to:,Equity holders of the CompanyNon-controlling interestsOther comprehensive income,334,7744,097338,871-,399,8916,162406,053-,1,173,67219,4861,193,158-,1,474,90929,5441,504,453-,Total comprehensive income for,the period,338,871,406,053,1,193,158,1,504,453,Total comprehensive incomeattributable to:,Equity holders of the CompanyNon-controlling interests,334,7744,097338,871,399,8916,162406,053,1,173,67219,4861,193,158,1,474,90929,5441,504,453,Earnings per share for profitattributable to the equity holdersof the Company(expressed in RMB per share),-Basic and diluted,0.39,0.46,1.36,1.71,*:Unaudited financial indexes7,-,-,-,-,-,-,Jiangling Motors Corporation,Ltd.Consolidated cash flow statement(Prepared under International Financial Reporting Standards)(All amounts in RMB thousands),Cash flows from operating activities,2012.7.1-2012.9.30*,2012.1.1-2012.9.30*,Cash generated from operationsInterest paidIncome Tax paidNet cash generated from operating activitiesCash flows from investing activitiesPurchase of held-to-maturity investmentsPurchase of property,plant and equipment(“PPE”)Other cash paid relating to investment activitiesProceeds from disposal of PPEInterest receivedOther cash received from investing activitiesNet cash used in investing activitiesCash flows from financing activitiesRepayments of borrowingsDividends paid to the Companys shareholdersDividends paid to minority shareholders of asubsidiaryOther cash paid relating to financing activitiesNet cash used in financing activitiesNet decrease in cash and cash equivalents,348,229(70,152)278,077(100,000)(284,383)18822,967(361,228)(743,227)(30,736)(1,348)(775,311)(858,462),1,460,321(271)(209,542)1,250,508(100,000)(1,038,387)(7,159)1,339118,501508(1,025,198)(206)(743,492)(30,736)(1,647)(776,081)(550,771),Cash and cash equivalents at beginning of periodCash and cash equivalents at 30 June 2012,5,692,668,5,384,977,Cash and cash equivalents at end of period,4,834,206,4,834,206,*:Unaudited financial indexes8,