长 安Ｂ：2012年第一季度报告全文（英文版） .ppt

2012 First Quarter Report ofChongqing Changan Automobile Company Limited1 Important Notes1.1 The Board of Directors,the Supervisory Committee and directors,supervisors and senior management ofChongqing Changan Automobile Company Limited(hereinafter referred to as“the Company”)warrant that thisreport does not contain any false or misleading statements or omit any material facts and all information set forthherein are true,accurate and complete.1.2 Directors absent from the meeting.,Name of the DirectorXv Liuping,Reasons for the absenceOn Business,Name of the consigneeZhang Baolin,1.3 The financial statements of this quarter have not been audited.1.4 Chairman Mr.Xu Liuping,General Manager Mr.Zhang Baolin,Chief Accountants Mr.Cui Yunjiangand Mr.Hua Zhanbiao guarantee the truthfulness and completeness of the financial statements of the quarterreport.1.5 The report shall be presented in both Chinese and English,and should there be any conflictingunderstanding of the text,the Chinese version shall prevail.2 Company Profile2.1 Main accounting data and financial indicatorsIn RMB Yuan,Ended this report term,Ended previous year,Changed by(%),Gross AssetsOwners Equity Attributable to the ParentCompanyShare capitalNet asset per share attributable to theowners of the parent companyTurnoverNet profit attributable to the owners ofparent companyCash flow generated by businessoperation,netNet Cash flow per share generated bybusiness operationBasic gains per shareDiluted gains per shareNet earnings/assetNet earnings/capital ratio afterdeducting of non-recurring gain/loss,36,153,375,568.4214,414,853,991.824,662,886,108.003.09This report term7,544,180,418.00146,392,056.13-245,812,599.84-0.050.030.030.99%0.94%,36,532,118,115.5414,739,231,462.024,834,482,546.003.05Same period last year8,165,486,105.28722,338,338.701,585,493,593.080.590.150.156.57%6.18%,-1.04%-2.20%-3.55%1.31%Changed by(%)-7.61%-79.73%-115.50%-108.47%-80.00%-80.00%-5.58%-5.24%,Note:during the report period,the company buybacks 171,596,438 B shares,accounting for 3.55%of the total equity.The companycompleted share buyback cancellation in Shenzhen branch of the China Securities Depository and Clearing Co.,Ltd.on March 30,2012,and the companys total equity became 4,662,886,108 shares.Amount of the period,Non-recurring gain and loss itemsGain/loss of non-current assetsGovernment subsidies accounted into current gain/loss account,other than those closely related to theCompanys common business,comply with the national policy and continues to enjoy at certain fixed,from the beginning ofyear to the end of reportterm975,155.776,237,496.961,1,2,3,4,5,6,7,8,rate or amount.Investment income from the fair value changes of held for trading financial assets or liabilities,and the,disposal of held for trading financial assets,liabilities or available for sale financial assetsOther non-business income and expenditures other than the aboveInfluenced amount of income taxInfluenced amount of miniority shareholders equityTotal,-1,525,799.635,688,548.41-3,073,342.41-984,954.807,317,104.30,2.2 Total number of shareholders at the end of the report period and statement on shares held bythe top ten tradable shareholdersUnit:share,Total shareholders number,Ttotaled 254,685,of which215,964 was A share shareholders and38,721 were B share shareholders.,Top ten shareholders of stock without limited sale,Name of shareholders,Total number of shares withoutcondition of limited sale,Share type,CHINA CHANGAN AUTOMOBILE COMPANYLIMITEDAgricultural Bank of China-Fullgoal Tianrui StrongArea Hybrid FundBeijing North Jingji Investment ConsultantCompanyLimitedChina South Industries Group FinanceCompanyLimitedBONJOUR CHINA FUND 2JPMBLSA RE FTIF TEMPLETON CHINA FUND GTI5497Bank Of ChinaE Fund SSE100ETF FundChina Construction Bank-Prosperity Fund ofCHINAAMCChina Merchants Bank-Moderate Fund of FullgoalFund,1,721,459,138 RMB Ordinary share84,872,349 RMB Ordinary share73,800,000 RMB Ordinary share63,000,000 RMB Ordinary share29,822,717 Domestic listed foreign shares28,798,596 Domestic listed foreign shares27,254,814 RMB Ordinary share24,571,445 Domestic listed foreign shares22,435,149 RMB Ordinary share19,157,644 RMB Ordinary share,3 Important Matters3.1 Significant changes in major accounting data,financial highlight and reason of these changes.Applicable Not Applicable,Balance Sheet ItemsMonetary fundOther account receivableConstruction in processIncome Statement ItemsSales expenseAdministrative expenseInvestment gainOperational profitGross profit,Mar.31th 20122,609,727,858.26200,627,627.373,864,763,785.86Jan-Mar 2012590,490,261.27475,587,216.19306,098,854.42103,752,062.78109,369,777.24,Jan.1th 20124,871,199,806.77117,398,622.232,795,536,908.98Jan-Mar 2011399,034,334.52334,074,430.34529,116,702.27730,633,905.90782,329,029.91,Changes-46.43%70.89%38.25%Changes47.98%42.36%-42.15%-85.80%-86.02%,2,9,10,11,12,13,3.2.2,3.2.3,reform,Net profit attributable to the owners ofparent companyCash Flow Statement ItemsCash flow generated by businessoperation,netNet cash flow generated by investmentNet cash flow generated by financingNet increase of cash and cash equivalents,146,392,056.13Jan-Mar 2012-245,812,599.84-1,435,760,639.20-580,321,368.51-2,261,471,948.52,722,338,338.70Jan-Mar 20111,585,493,593.08-1,099,393,537.693,745,963,681.144,232,191,737.48,-79.73%Changes-115.50%-30.60%-115.49%-153.44%,By the end of report period,the companys total assets is 36.153 billion yuan,down by 1.04%than the beginning of the year;thetotal liabilities is 21.847 billion yuan,down by 0.17%than the beginning of the year;the asset-liability ratio is 60.43%,up by 0.53%.Monetary fund reduction is mainly caused by capital expenditure for purchasing fixed asset increases by 1.4 billion yuan,and B sharebuyback costs 500 million yuan.Other receivables increase mainly caused by the advance payment of the projects under constructionincreases by 75.09 million yuan;The increase of projects under construction is mainly caused by Yuzhui vehicle,engine base andtesting ground project increase.During the report period,since the auto sales drop year to year,and JV investment income reduces,the operating profit,totalprofit,and net profit attributable to the parent company of the first quarter substantially drop.Sales expenses rise sharply year to year,that is mainly caused by the discount sales discount increases year to year.Management costs rise sharply year to year,that is mainlycaused by total salary pay cost increases and intangible assets amortization increase.During the report period,the net revaluation of cash and cash equivalents is-2.261 billion yuan,down by 153.44%year to year,and the main reason is the financing activities of the same period last year increased stock to raise money.3.2 The progress and influence of significant events and the analysis and explanation on resolving proposal,3.2.1,Particular about Qualified Opinion,Applicable Not ApplicableParticular about fund offered to shareholder or its related parties by the Company andexternal guarantee with procedure violationApplicable Not ApplicableParticular about the significant contract of routine operation signed and implementedApplicable Not Applicable3.2.4 OthersApplicable Not ApplicableThe 26th meeting of the fifth session of the board of directors held on January 16,2012,and the first temporary shareholderconference of 2012 held on February 3,2012,past the related proposal issuing corporate bonds.The company received Reply aboutApproving Chongqing Changan Automobile Co.,LTD to Issue Corporate Bonds to The Public(Securities Regulatory licensing2012 388)of China Securities Supervision and Management Committee on Mar.26th,2012,which approved the company to issuecorporate bonds whose par value does not exceed 1.98 billion yuan to the public.By April 26,2012,the company had completed bond issue,raising capital of 1.98 billion yuan,and all the bonds had fixed interestrate for 5 years.Coupon rate of the bond is 5.30%.Related information refers to China Securities Journal”,“Securities Times”,andJuchao Information nets(http:/).3.3 The fulfillment of the commitment made by the Company,shareholders and the actual controllerApplicable Not Applicable,Commitmentspromiseof sharesplit,PromiseeCCAG,Content of commitmentsTo comply with laws,rules and regulations,and perform legalduty of commitment.Since the non-circulated shares are entitled to be circulated,atleast they cant be dealt with or transferred within 24 months.Atthe expiration of 24 months,the shareholders of non-circulatedshares can sell the shares in stock exchange in amount of no more,ImplementationBy the end of the reporting period,China Changanholds 2,094,817,480 shares of the Company,ofwhich 1,721,459,138 shares are tradable shares,theremaining 373,358,342 shares are ed shares,andaccording to the share reform managementcommitment,restriction will be released after the,3,Other,nts,than 5%of total within 12 months,and no more than 10%of total implementation of equity incentive plans.within 24 months.After the reform of non-tradable shares,the Company performsthe scheme of incentive share awards for the managementsaccording to relative government regulationTo avoid and final settlement of intra-industry competition mayexist or potential competition in the industry and better safeguardthe interests of corporate investors,the controlling shareholder ofChina Changan promises:in Jiangxi Changhe Automobile Co.,Ltd.and Harbin Hafei Automobile Industry Group Co.,Ltd.are,Commitme CCAG,continuous Two years of profitability,with sustained development Not yet reached the fulfillment of condition,and management capacity has improved significantly with thecase,proposed to the two companies into the Company;Peugeot Citroen Automobile Co.,Ltd.Changan completed and putinto operation,the proposed joint venture held by shares Alltransferred to the company.3.4 Warnings of possible loss or large-margin change of the accumulated net profit made during the period fromthe beginning of the year to the end of the next report period compared with the same period of the last yearaccording to prediction,as well as explanations on the reasonsApplicable Not Applicable3.5 Other significant events need to be explained3.5.1 Securities investmentApplicable Not Applicable3.5.2 Interviews and visits in the reporting periodApplicable Not Applicable,Time/date2012.1.162012.2.142012.2.162012.2.212012.2.292012.3.12012.3.142012.4.10,PlaceMeeting Room,Changan HeadquartersMeeting Room,Changan HeadquartersMeeting Room,Changan HeadquartersMeeting Room,Changan HeadquartersMeeting Room,Changan HeadquartersMeeting Room,Changan HeadquartersMeeting Room,Changan HeadquartersMeeting Room,Changan Headquarters,WayOn-Site SurveyOn-Site SurveyOn-Site SurveyOn-Site SurveyOn-Site SurveyOn-Site SurveyOn-Site SurveyOn-Site Survey,VisitorsCITIC SecuritiesHuaAn FundsE Fund Management、Fortune SGFund Management、Shenyin&Wanguo SecuritiesShenyin&Wanguo SecuritiesCSCOrient SecuritiesChina Alpha InvestmentManagement LimitedHuaChuang Securities,Main content involved and materialprovidedAutomotive Industry Development andCompanys BusinessAutomotive Industry Development andCompanys BusinessAutomotive Industry Development andCompanys BusinessAutomotive Industry Development andCompanys BusinessAutomotive Industry Development andCompanys BusinessAutomotive Industry Development andCompanys BusinessAutomotive Industry Development andCompanys BusinessAutomotive Industry Development andCompanys Business,3.5 Particulars about derivatives investmentApplicable Not Applicable3.5.1Particulars about derivatives investment held at the end of report periodApplicable Not Applicable4,Items,4.Attachment4.1 Balance Sheet,Prepared by:CHONGQING CHANGAN AUTOMOBILE CO.,LTD.,Mar.31th 2012,in RMB yuan,Current asset:,At the end of termConsolidated Parent company,Beginning of termConsolidated Parent company,Monetary fundSettlement provisionOutgoing call loan,2,609,727,858.26 1,463,606,855.77 4,871,199,806.77 3,748,480,642.89,Trading financial assets,1,525,799.63,0.00,Notes receivable,6,701,465,687.46 5,395,574,103.07 5,691,518,013.21 4,629,815,917.34,Account receivablePrepayment,364,031,834.31366,508,017.63,578,606,302.34341,565,617.29,505,707,438.05320,623,972.68,709,962,322.23275,607,524.99,Insurance receivableReinsurance receivableProvisions of Reinsurance contracts receivable,Interest receivable,0.00,0.00,Dividend receivableOther account receivable,450,030.00200,627,627.37,450,030.00212,024,666.21,450,030.00117,398,622.23,450,030.00155,166,949.83,Repurchasing of financial assets,Inventories,3,483,983,106.08 2,095,436,277.40 4,143,618,347.47 2,509,720,521.60,Non-current asset due in 1 year,0.00,0.00,Other current asset,205,128.97,14,358.97,7,463,166.98,0.00,Total of current assetNon-current assetsLoans and payment on others behalf disbursed,13,726,999,290.08 10,087,278,211.05 15,659,505,197.02 12,029,203,908.88,Disposable financial assetExpired investment in possessLong-term receivable,229,833,980.00,151,762,500.00,225,129,480.000.000.00,143,420,000.000.000.00,Long-term share equity investment,7,713,466,428.96 9,005,153,841.69 7,407,367,574.54 8,699,054,987.27,Property investment,60,705,144.10,61,350,378.25,Fixed assetsConstruction in process,7,650,369,604.93 6,499,044,006.67 7,542,137,587.89 6,411,720,208.043,864,763,785.86 3,511,236,583.89 2,795,536,908.98 2,521,725,163.27,Engineering materialFixed asset disposal,795,898.755,111,404.35,795,898.75,795,898.7517,688.00,795,898.750.00,Production physical assetsGas&petrol,Intangible assets,1,826,480,270.91 1,695,898,717.46 1,822,099,425.28 1,677,524,545.00,R&D expenseGoodwillLong-term prepaid expensesDiffered income tax assetOther non-current asset,429,965,947.889,804,394.008,709,652.07626,166,164.93203,601.60,427,275,437.15855,380.00464,786,453.33,426,379,528.169,804,394.002,069,156.74579,924,897.930.00,426,140,086.240.00900,400.00441,652,853.360.00,Total of non-current assetsTotal of assets,22,426,376,278.34 21,756,808,818.94 20,872,612,918.52 20,322,934,141.9336,153,375,568.42 31,844,087,029.99 36,532,118,115.54 32,352,138,050.815,Current liabilities,Short-term loans,896,890,000.00,896,890,000.00,976,890,000.00,896,890,000.00,Loan from Central BankDeposit received and hold for othersCall loan received,Trade off financial liabilities,0.00,0.00,Notes payableAccount payablePrepayment receivedSelling of repurchased financial assetsFees and commissions receivable,6,416,723,379.77 5,127,489,269.08 6,671,345,457.57 5,330,352,103.566,689,194,842.17 4,476,551,780.95 5,946,877,115.16 4,001,734,598.602,431,559,349.27 1,652,850,214.37 3,105,626,115.15 2,186,573,040.05,Employees wage payableTax payableInterest payableDividend payable,207,766,607.458,885,246.044,373,087.2279,742.80,166,436,032.09161,974,003.691,485,285.83,278,808,694.00-189,619,697.331,485,285.8379,742.80,222,376,277.255,941,651.421,485,285.83,Other account payableReinsurance fee payableInsurance contract provisionEntrusted trading