Chongqing Jianshe Motorcycle Co., Ltd. Annual Report 2014 Summary Stock Code: 200054 Stock ID: Jianmo B Announcement No. 2015-011
Chongqing Jianshe Motorcycle Co., Ltd.
Annual Report 2014 Summary
1. Important Prompt
This is the summary abstracted from the complete version of Annual Report 2012, which is published synchronously on the Internet at http://www.cninfo.com.cn. Please find the complete version for details of the annual report.
Company profile
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|-|-|-|-|-|
|Stock ID|Jianmo B|Stock Code||200054|
|Stock Exchange listed in|Shenzhen Stock Exchange||||
|Liaisons|Secretary of the Board||Representative of Stock Affairs||
|Name|Teng Feng||Liu Hongyu||
|Tel.|023-66295333||023-66295333||
|Fax.|023-66295333||023-66295333||
|Email.|cqjsmc@jianshe.com.cn||cqjsmc@jianshe.com.cn||

2. Financial highlights and change of shareholders
(1) Financial highlights
Are there any retrospective adjustment or restatement of financial information of previous year due to change of accounting policies or correcting of accounting errors?
[] Yes[V] No
||||||
|-|-|-|-|-|
||||Increase / Decrease||
||2014|2013||2012|
||||over the previous year||
|Turnover (RMB)|1,763,619,804.97|1,885,831,544.85|-6.48%|1,823,400,359.85|
|Net profit attributable to shareholders|-133,593,949.98|11,589,364.53|||
||||-1,252.73%|-143,723,842.47|
|of the listed company (yuan)|||||
|Net profit attributable to the|||||
|shareholders of the listed company and|||||
||-153,898,341.02|-99,416,477.62|-54.80%|-146,814,795.90|
|after deducting of non-recurring|||||
|gain/loss(RMB)|||||
|Net Cash flow generated by business|94,598,651.91|162,848,662.04|||
||||-41.91%|90,320,926.95|
|operation (RMB)|||||
|Basic earnings per share (Yuan/share)|-1.119|0.097|-1,253.61%|-1.204|
|Diluted earnings per share (Yuan/share)|-1.119|0.097|-1,253.61%|-1.204|
|Net income on asset, weighted|-158.82%|7.83%|-166.65%|-67.01%|
||||Changed over end of||
||End of 2014|End of 2013||End of 2012|
||||last year||
|Gross Assets (RMB)|2,389,211,010.43|2,761,080,427.99|-13.47%|2,910,101,919.15|
|Net asset attributable to owners of the|17,321,196.61|150,915,146.59|||
||||-88.52%|142,442,251.09|
|PLC|||||

Chongqing Jianshe Motorcycle Co., Ltd. Annual Report 2014 Summary (2) The top 10 shareholders
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|-|-|-|-|-|-|-|-|-|-|
|||||Amount of shareholders at end of||||||
|Total common shareholders at the||||||||||
||11,143|||the 5th trading day prior to the|||10,440|||
|end of the report period||||||||||
|||||date of this annual report||||||
|Top 10 common share holders||||||||||
|||||||Amount of||Frozen or pledged||
|||Properties of|Share||Amount of|||||
|Name of the shareholder||||||unconditional||Status of|Amoun|
|||shareholder|proportion %||shares|||||
|||||||shares held||shares|t|
|Shanghai Hong Kong Wanguo Securities||Overseas legalperson|1.05%||1,256,800|0||||
|Liu Dan||Domesticnatural person|0.90%||1,069,301|0||||
|Zeng Qinghua||Domesticnatural person|0.36%||431,601|0||||
|Hu Zhihong||Domesticnatural person|0.31%||366,864|0||||
|Chen Houping||Domesticnatural person|0.29%||343,615|0||||
|Guo Dongjiang||Domesticnatural person|0.29%||343,435|0||||
|Zhao Yun||Domesticnatural person|0.29%||340,885|0||||
|Zhang Huai’an||Domesticnatural person|0.28%||330,000|0||||
|Xue Fang||Domesticnatural person|0.21%||250,000|0||||
|CREDIT SUISSE (HONG KONG)LIMITED||Overseas legalperson|0.19%||230,430|0||||
|Notes to relationship or “action in concert” among the top|||The Company is not informed whether there is any relationship|||||||
|ten shareholders.|||among the above shareholders or regarded as action-in-concert.|||||||

 (2) The top 10 preference share holders
[] Applicable;[V] Not applicable
No preference shareholders of the Company in the report period.
(4) Chart of shareholding relationships with substantial holders
State-owned Asset Administration
Committee of the National Government
100%
China Southern Industry Group
71.13%
Chongqing Jianshe Motorcycle Co., Ltd.
Chongqing Jianshe Motorcycle Co., Ltd. Annual Report 2014 Summary 3. Management analyze
The whole motorcycle industry of the country was going downhill continuously in 2014, and competition was intense in the auto part market too. The Company achieved some progress in upgrading its business operation and refining of the motorcycle business. Automobile air-conditioner business and co-operative businesses were in steady growth.
As for the motorcycle business, the Company was turning its direction to high-performance and high-value-adding models. Management structure was refined to better service its business purpose. Current asset was further utilized to expand auto part business, and resources were rearranged to increase efficiency along with the joint ventures.
In the aspect of automobile air-conditioner business, the Company accelerated strategic cooperation with large clients. Enlarging of investment on fixed assets was lifting up the productivity and testing abilities to satisfy growing demands of high-end markets.
As for co-operations and joint ventures, the four projects including C48 were put into full operation, C50 project was launched, and OEM product lines were enriched. Basing on the co-operation of OEM, the Company achieved breakthrough in ODM co-operations with YAMAHA on F33 (ATV engine) project.
In the year, the Company suffered from continuous depression of the market, and the growth of air-conditioner business is not sufficient to offset the loss in motorcycle business. Generally the main business turnover declined and the consolidated net profit is a negative figure.
4. Issues involve with financial reports
(1) Statement on changes of accounting policies, accounting estimations, and accounting basis comparing with the last fiscal year
[V] Applicable Not applicable
1. Material change of accounting policies
(1) The new accounting standards revised or released in 2014
The Company has been exercising the following accounting standards revised or released in 2014 by the Department of Finance: Enterprise Accounting Standard– Fundamental Rules (Revised); Enterprise Accounting Standard No.2 - Long term equity investment (Revised); Enterprise Accounting Standard No.9–Employees’ remuneration (Revised); Enterprise Accounting Standard No.30– Preparation of financial statements (Revised); Enterprise Accounting Standard No.33– Preparation of consolidated financial statements (Revised); Enterprise Accounting Standard No.37– Reporting of financial instruments (Revised); Enterprise Accounting Standard No.39– Accounting of fair value; Enterprise Accounting Standard No.40– Arrangement of joint ventures; Enterprise Accounting Standard No.41– Disclosure of equities in other entities
(2) Impact of exercising the new standards is as the following:
1) Exercising of Enterprise Accounting Standard No. 2– Long-term equity investment (Revised)
According to Enterprise Accounting Standard No. 2– Long-term equity investment (Revised), the long-term equity investment in entities featured no common control or material influence, no quotation in an active market, and fair value cannot be measured reliably, are relocated to sellable financial assets. Retrospective adjustment was made thereof.
2) Exercising of Enterprise Accounting Standard No.30– Preparation of financial statements (Revised)
According to the Enterprise Accounting Standard No.30– Preparation of financial statements (Revised), the negative figures of tax payable were transferred to other current asset, and retrospective adjustment was made. Influences of above changes on the opening balances of consolidated financial statements are:
Chongqing Jianshe Motorcycle Co., Ltd. Annual Report 2014 Summary
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|-|-|-|-|-|
|Property of change inaccounting policies|Subjects of the accountinfluenced|Amount beforeadjustment|Amount afteradjustment|Amount ofinfluence(+/-)|
|Exercising of new accountingpolicy|Other current asset|0|17,127,455.06|17,127,455.06|
||Tax payable|124,374,241.36|141,501,696.42|17,127,455.06|
|Exercising of new accountingpolicy|Sellable financial asset|0|0|0|
||Long-term share equityinvestment|689,241,790.19|689,241,790.19|0|
|Exercising of new accountingpolicy|Capital reserves|960,515,317.59|960,505,517.59|-9,800|
||Other misc incomes|0|9,800.00|9,800|

 2. Change of accounting estimation
No change of accounting estimation occurred in the report period.
(2) Statement on correcting of material accounting error and retrospective adjustment
[] Applicable;[V] Not applicable
No retrospective correction of material accounting error in the report period.
(3) Statement on change of consolidation range comparing with the previous fiscal year
[] Applicable;[V] Not applicable
No change of consolidation range in the report period.
(4) Statement of the Board on the “Non-standardauditors’ report” issued by the CPA on the current report period
[] Applicable;[V] Not applicable