Financial Performance - Operating revenue for the reporting period was CNY 5.90 billion, down 12.80% year-on-year[7] - Net profit attributable to shareholders was a loss of CNY 100.16 million, a decrease of 210.52% year-on-year[7] - Sales revenue for the first three quarters was CNY 20.19 billion, down 10% year-on-year[15] - Net profit for the first three quarters decreased by 425 million, a decline of 66.00%, attributed to a drop in sales volume and a deterioration in sales structure, despite some offset from cost reductions[16] - Total operating revenue for Q3 2018 was ¥5,902,626,621, a decrease of 12.87% from ¥6,768,705,573 in the same period last year[35] - Net profit for Q3 2018 was a loss of ¥100,163,686, compared to a profit of ¥90,627,836 in Q3 2017, representing a significant decline[35] - Total operating revenue for the year-to-date period was ¥20,190,123,934, down 10.05% from ¥22,435,181,477 in the previous year[40] - Year-to-date net profit was ¥218,787,112, a decrease of 66.0% from ¥643,530,926 in the same period last year[40] - The total operating profit was ¥484,972,063, a decrease of 49.5% from ¥961,203,430 in the previous period[44] Asset and Liability Changes - Total assets decreased by 18.61% to CNY 21.47 billion compared to the end of the previous year[7] - Net assets attributable to shareholders decreased by 16.37% to CNY 10.51 billion compared to the end of the previous year[7] - Total current assets at the end of the period amounted to 13.211 billion, down from 18.126 billion at the beginning of the period[28] - Total liabilities at the end of the period were 10.960 billion, compared to 13.811 billion at the beginning of the period[29] - Total assets decreased from 26.384 billion at the beginning of the period to 21.475 billion at the end of the period[28] - The company's cash and cash equivalents decreased from 11.138 billion to 5.851 billion during the reporting period[28] - The company's retained earnings decreased from 10.445 billion to 8.387 billion during the reporting period[29] Cash Flow Analysis - Net cash flow from operating activities for the first three quarters decreased by 904 million, a decline of 65.25%, primarily due to reduced cash received from sales resulting from lower sales volume[16] - Net cash flow from investing activities for the first three quarters decreased by 232 million, a decline of 47.81%, mainly due to increased cash payments for fixed asset purchases[16] - Net cash flow from financing activities for the first three quarters decreased by 1.747 billion, a decline of 327.48%, primarily due to the payment of a special interim dividend in mid-2017[16] - The total cash flow from operating activities was negative at -¥2,288,720,986, compared to -¥1,384,990,693 in the previous period, indicating a worsening cash flow situation[46] - The cash flow from investing activities was negative at -¥718,049,543, which is a decline from -¥485,788,745 in the previous period[46] - The cash flow from financing activities was negative at -¥2,280,034,773, compared to -¥533,371,600 in the previous period, indicating increased outflows[47] Expense and Investment Insights - Selling expenses decreased by 60.88% to CNY 11.47 billion year-on-year[15] - Research and development expenses increased to ¥437,163,892 in Q3 2018, up from ¥418,567,966 in Q3 2017, indicating a focus on innovation[35] - The company reported a significant increase in investment income for Q3 2018, totaling ¥5,985,293, compared to ¥3,378,488 in Q3 2017[35] - The financial expenses for Q3 2018 showed a reduction, with a net income of -¥22,780,645 compared to -¥64,250,457 in the previous year[35] - The company reported a decrease in research and development expenses to ¥1,157,261,936 from ¥1,219,710,965, reflecting a 5.1% reduction[44] - The company paid ¥2,278,568,395 in dividends and interest, significantly higher than ¥527,274,608 in the previous period[47] Market and Strategic Focus - The company sold 204,021 vehicles in the first three quarters, a decrease of 7.85% year-on-year[15] - The company is focusing on expanding its market presence and enhancing product development to improve future performance[35]

Financial Performance - The company's operating revenue for the first half of 2018 was CNY 14,287,497,313, a decrease of 8.80% compared to CNY 15,666,475,904 in the same period last year[17]. - The net profit attributable to shareholders was CNY 318,950,798, down 42.31% from CNY 552,903,090 year-on-year[17]. - The net profit after deducting non-recurring gains and losses was CNY 148,171,906, a decline of 60.62% compared to CNY 376,252,205 in the previous year[17]. - The company reported a net cash flow from operating activities of CNY -906,666,611, slightly worse than CNY -899,242,852 in the previous year, indicating ongoing cash flow challenges[17]. - In the first half of 2018, the company sold 147,354 vehicles, a year-on-year decrease of 4.16%[32]. - Revenue for the first half of 2018 was 14.287 billion yuan, down 8.80% compared to the previous year[34]. - Net profit for the first half of 2018 was 319 million yuan, a decline of 42.31% year-on-year[32]. - The company reported a significant reduction in sales expenses, which fell to RMB 452.93 million from RMB 1.27 billion, a decrease of 64.4%[111]. - The total comprehensive income for the first half of 2018 was RMB 318,950,798, down from RMB 552,903,090 in the first half of 2017, reflecting a significant decline[114]. Assets and Liabilities - The company's total assets decreased by 11.94% to CNY 23,232,394,299 from CNY 26,383,760,753 at the end of the previous year[17]. - The net assets attributable to shareholders fell by 15.57% to CNY 10,615,057,465 from CNY 12,572,401,985 at the end of the previous year[17]. - The company's total liabilities as of June 30, 2018, were CNY 12,617,336,834, down from CNY 13,811,358,768 at the end of 2017[109]. - Cash and cash equivalents decreased to CNY 7,787,609,832 from CNY 11,137,722,771 at the end of 2017, representing a decline of approximately 30.5%[107]. - Accounts receivable increased to CNY 2,639,513,822 as of June 30, 2018, compared to CNY 2,307,118,419 at the end of 2017, reflecting an increase of about 14.4%[107]. - The total equity attributable to shareholders decreased to CNY 10,615,057,465 as of June 30, 2018, compared to CNY 12,572,401,985 at the end of 2017[109]. Strategic Initiatives - The company plans to enhance its product offerings with new models such as the "江铃威龙" heavy truck, which won the "2018 China Annual Truck" award[27]. - The company is expanding its manufacturing capabilities with the construction of the 富山新能源基地 to provide more new energy vehicle products[27]. - The company formed strategic partnerships with domestic and international logistics platforms to explore new business models[29]. - The company is collaborating with leading domestic autonomous driving companies to develop ADAS and autonomous driving solutions[29]. - The company aims to strengthen its dealer network and expand overseas markets and parts sales[51]. - The company plans to enhance production efficiency and product quality through lean manufacturing practices[52]. Research and Development - Research and development expenditure for the first half of 2018 was 820.75 million yuan, a decrease of 4.61% from the previous year[34]. - The company is focused on new product development and improving R&D capabilities with the support of technical partners[51]. - The company launched its first pure electric light truck, the Kai Rui EV, which secured 5,100 orders, establishing a foundation for a smart logistics ecosystem[32]. Environmental and Social Responsibility - The company has implemented various noise reduction measures, including the installation of soundproof doors and windows, to ensure compliance with noise emission standards[77]. - The company has established an emergency response plan for environmental incidents, including pollution accidents and toxic gas leaks, and conducts annual drills to ensure effectiveness[77]. - The company aims to achieve a comprehensive improvement in environmental performance through strict adherence to environmental impact assessments for new projects[78]. - The company continued to consolidate its poverty alleviation efforts, with a total investment of 6.6 million RMB in financial support and 1.76 million RMB in material assistance[82]. - The company has successfully helped 179 impoverished students through educational support, with an investment of 1.36 million RMB in 2018[82]. Shareholder Information - As of June 30, 2018, the total number of shares remained unchanged at 863,214,000, with 120,000 restricted shares released for trading on May 23, 2018[88]. - The total number of shareholders at the end of the reporting period was 32,528, with 27,100 holding A shares and 5,428 holding B shares[91]. - The largest shareholder, Jiangling Holdings, owned 41.03% of the shares, totaling 354,176,000 shares, with no changes during the reporting period[91]. - Ford Motor Company held 32.00% of the shares, amounting to 276,228,394 shares, also with no changes reported[91]. - The company did not issue any new shares or conduct any stock splits during the reporting period[90]. Governance and Compliance - The financial report for the first half of 2018 was not audited[105]. - The financial statements for the first half of 2018 were approved by the board on August 27, 2018, ensuring compliance with accounting standards[121]. - The company has not faced any significant litigation or arbitration matters during the reporting period[60]. - The company has not engaged in any major asset or equity sales during the reporting period[49].

Financial Performance - The company's operating revenue for the first half of 2017 was CNY 15.67 billion, an increase of 44.92% compared to CNY 10.81 billion in the same period last year[17]. - The net profit attributable to shareholders decreased by 21.52% to CNY 552.90 million from CNY 704.52 million year-on-year[17]. - The basic earnings per share decreased by 21.52% to CNY 0.64 from CNY 0.82 in the same period last year[17]. - In the first half of 2017, the company achieved vehicle sales of 153,756 units, a year-on-year increase of 27.06%[30]. - Revenue for the period reached 15.67 billion yuan, representing a year-on-year growth of 44.92%[31]. - Net profit was 553 million yuan, a decline of 21.52% compared to the previous year, primarily due to product structure adjustments and increased sales and R&D expenses[30]. - Operating profit decreased to RMB 405.36 million, a decline of 25% compared to RMB 540.10 million in the same period last year[104]. - The total comprehensive income for the first half of 2017 was RMB 552,903,090, down from RMB 704,516,677 in the first half of 2016, indicating a decrease of about 21.5%[109]. Cash Flow and Investments - The net cash flow from operating activities turned negative at CNY -899.24 million, a decline of 191.03% compared to CNY 987.87 million in the previous year[17]. - Cash flow from operating activities showed a significant decline, with a net outflow of 899 million yuan, a decrease of 191.03% year-on-year[31]. - Investment activities generated a net cash outflow of RMB 282.76 million, compared to a net outflow of RMB 357.89 million in the first half of 2016[107]. - The company reported a decrease in investment income from joint ventures to RMB 3.45 million, down from RMB 5.03 million in the previous year[104]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 24.20 billion, a decrease of 1.20% from CNY 24.49 billion at the end of the previous year[17]. - The company's total assets included cash and cash equivalents of 10.48 billion yuan, accounting for 43.30% of total assets[36]. - The total liabilities as of June 30, 2017, were RMB 11.76 billion, compared to RMB 12.08 billion at the end of 2016[102]. - The company's current assets totaled RMB 16.12 billion, slightly down from RMB 16.32 billion at the end of 2016[100]. - The company reported a decrease in current liabilities to RMB 11.53 billion from RMB 11.87 billion at the end of 2016[102]. Research and Development - The company plans to enhance its R&D capabilities with the launch of new Ford models, including the Ford Ranger SUV and the Ford Tourneo MPV, which will strengthen its market competitiveness[27]. - The company has achieved significant progress in the development of its self-developed Yusheng S330 SUV and the updated S350 model, enhancing its capabilities in the SUV segment[27]. - R&D investment increased by 21.13% to 860 million yuan, driven by the implementation of the National VI emission standards[31]. Environmental and Social Responsibility - The company emphasizes environmental protection and resource conservation as primary tasks, implementing measures to improve environmental performance[77]. - The company has established various environmental procedures and management plans to manage its environmental performance[77]. - The company has invested over 30 million yuan since 2006 in wastewater treatment facilities, achieving a treatment capacity of 9,000 tons per day to ensure compliance with discharge standards[72]. - The company participated in targeted poverty alleviation efforts in two villages, contributing a total of 4.3 million yuan in funds and 1.33 million yuan in material assistance, helping 20 registered impoverished individuals to escape poverty[67][68]. Shareholder Information - The total number of shares outstanding is 863,214,000, with 99.80% being unrestricted shares[82]. - The largest shareholder, Jiangling Holdings Limited, holds 41.03% of the shares, amounting to 354,176,000 shares[85]. - Ford Motor Company, as a foreign entity, holds 32.00% of the shares, totaling 276,228,394 shares[85]. - The company plans not to distribute cash dividends or issue bonus shares for the half-year period[48]. Compliance and Governance - The company held its first extraordinary general meeting of shareholders in 2017 with an investor participation rate of 77.93% on May 18, 2017[47]. - The annual general meeting of shareholders in 2016 had a participation rate of 77.67% on June 29, 2017[47]. - There were no major litigation or arbitration matters during the reporting period[53]. - The company did not experience any bankruptcy reorganization matters during the reporting period[52]. - The company reported no significant penalties or rectification measures during the reporting period[53]. Financial Reporting and Accounting Policies - The half-year financial report was not audited[50]. - The company's financial statements for the first half of 2017 were approved by the board on August 29, 2017, ensuring compliance with accounting standards[117]. - Cash and cash equivalents include cash on hand and deposits that are readily available for payment[129]. - Revenue is recognized at fair value of the consideration received or receivable, net of sales discounts and returns[184].

Financial Performance - The company's operating revenue for 2016 was CNY 26,633,948,551, representing an increase of 8.59% compared to CNY 24,527,892,839 in 2015[17] - The net profit attributable to shareholders decreased by 40.68% to CNY 1,318,016,125 in 2016 from CNY 2,222,061,095 in 2015[17] - The net cash flow from operating activities significantly increased by 138.64% to CNY 4,593,392,536 in 2016, compared to CNY 1,924,813,602 in 2015[17] - The basic earnings per share dropped to CNY 1.53 in 2016, down 40.68% from CNY 2.57 in 2015[17] - The net profit after deducting non-recurring gains and losses was CNY 867,270,667, down 45.39% from CNY 1,588,133,439 in 2015[17] - The company reported a net profit of 10.55 million yuan from its subsidiary, Jiangling Sales Co., Ltd., which significantly contributes to the overall net profit[63] Assets and Equity - Total assets at the end of 2016 were CNY 24,493,788,810, an increase of 16.36% from CNY 21,050,725,683 at the end of 2015[18] - The return on equity (ROE) decreased to 10.74% in 2016 from 19.56% in 2015, reflecting a decline of 8.82%[18] - The company's cash and cash equivalents increased by 2,818,181,699, marking a 2,541.50% rise compared to the previous year[49] - The proportion of cash and cash equivalents to total assets rose to 47.63%, up from 42.03% in the previous year[51] Sales and Production - In 2016, the company achieved total vehicle sales of 281,019 units, representing a year-on-year growth of 6.95%[34] - The company produced a total of 281,463 vehicles in 2016, with a production increase of 8.20% year-on-year[34] - The fourth quarter revenue reached CNY 9,404,590,529, contributing significantly to the annual total[22] - The company’s sales revenue from complete vehicles was 23.876 billion yuan, accounting for 89.64% of total revenue[36] - The company’s parts sales revenue was 2.370 billion yuan, which represented an 8.90% share of total revenue[36] Research and Development - Research and development expenditure for 2016 totaled ¥1,937,312,797, representing 7.27% of the operating revenue[47] - The company’s R&D capabilities were further strengthened with the establishment of a national-level R&D technology center[30] - The number of R&D personnel increased by 5.45% to 2,225, while the R&D personnel ratio slightly decreased to 13.19%[47] - The company is committed to enhancing its research and development capabilities for new products and technologies[132] Market Strategy and Future Outlook - The company aims to achieve sales of 365,000 vehicles and revenue of approximately 35.2 billion yuan in 2017, representing increases of 30% and 32% respectively compared to 2016[65] - The company plans to continue expanding its SUV market and gradually develop the heavy-duty vehicle market[65] - The company is focusing on optimizing existing product costs, improving production efficiency, and reducing management costs to enhance profitability[65] - The company anticipates continued growth in the commercial vehicle market due to ongoing infrastructure development and rising consumer demand[64] - The company is actively working on expanding its distribution network to increase market penetration and customer reach[145] Dividend Policy - The company plans to distribute a cash dividend of CNY 6.10 per 10 shares, based on a total of 863,214,000 shares[5] - The cash dividend for 2016 represents approximately 39.95% of the net profit attributable to shareholders[76] - The company has distributed a total cash dividend of RMB 6.421 billion over the past 14 years, maintaining a consistent cash dividend policy since 2003[70] - As of the end of 2016, the company had a distributable profit of RMB 10.28 billion, with cash dividends constituting 100% of the profit distribution[77] Corporate Governance and Compliance - The company maintains an independent financial department with a standardized accounting system and independent tax obligations[166] - The audit committee confirmed that the financial statements accurately reflect the company's financial position as of December 31, 2016, and the operating results for the year[174] - The company reported no financial reporting important defects, reinforcing the integrity of its financial practices[182] - The audit opinion issued by PwC was a standard unqualified opinion, confirming the fair presentation of the financial statements[189] Social Responsibility and Environmental Compliance - The company participated in targeted poverty alleviation efforts, helping 29 households and 86 individuals in Qianmo Village to successfully escape poverty in 2016[109] - The company invested a total of 10 million RMB in targeted poverty alleviation efforts, helping 97 registered impoverished individuals to escape poverty[110] - The company has invested over 30 million RMB in the construction of wastewater treatment facilities, with a treatment capacity of 9,000 tons per day[116] - The company achieved compliance in its emissions, with a total discharge of 219.73 tons of COD and 5.35 tons of ammonia nitrogen, meeting the required standards[115] Employee and Management Information - The total number of employees in the company, including the parent company and major subsidiaries, is 16,865, with 11,465 in production, 679 in sales, and 3,592 in technical roles[160] - The total pre-tax remuneration for the company's senior management during the reporting period amounted to approximately 11.49 million RMB, including 1.19 million RMB from long-term incentives deferred from previous years[156] - The company invested 22.195 million RMB in training during the year, providing training for 95,851 person-times with a satisfaction rate of 96.70%[163] Related Party Transactions - The total amount of related party transactions was RMB 513,064,000, accounting for 4.45% of the total sales[94] - The company had no significant related party transactions involving asset or equity acquisitions or sales during the reporting period[96]

江铃汽车股份有限公司 2018 年第一季度报告全文 江铃汽车股份有限公司 2018 年第一季度报告 2018-019 2018 年 04 月 1 江铃汽车股份有限公司 2018 年第一季度报告全文 第一节 重要提示 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真 实、准确、完整，不存在虚假记载、误导性陈述或者重大遗漏，并承担个别和 连带的法律责任。 所有董事均已出席了审议本次季报的董事会会议。 公司负责人邱天高、主管会计工作负责人龚圆圆及会计机构负责人（会计 主管人员）谢万兆声明：保证季度报告中财务报表的真实、准确、完整。 2 江铃汽车股份有限公司 2018 年第一季度报告全文 公司是否需追溯调整或重述以前年度会计数据 □ 是 √ 否 | | 本报告期 | 上年同期 | 本报告期比上年同期增减 | | --- | --- | --- | --- | | 营业收入（元） | 6,481,073,238.00 | 8,155,676,321.00 | -20.53% | | 归属于上市公司股东的净利润（元） | 153,606,234.00 | 228,607,698.00 | -32.81% ...