The Report for the First Quarter of2016—Changchai Company, Limited Changchai Company, Limited
The Report for the First Quarter of 2016 April 2016
The Report for the First Quarter of2016—Changchai Company, Limited Section I Important Statements
The Board of Directors, the Supervisory Committee, directors, supervisors and senior management staff of Changchai Company, Limited (hereinafter referred to as “the Company”) warrant that the information carried in this report is factual, accurate and complete, without any false record, misleading statement or material omission. And they shall be jointly and severally liable for that.
All directors have attended the board session for reviewing this report.
Xue Guojun, company principal, He Jianguang, chief of the accounting work, and Jiang He, chief of the accounting organ (chief of accounting), hereby confirm that the financial statements enclosed in this report are factual, accurate and complete.
This Report is prepared in both Chinese and English. Should there be any discrepancy between the two versions, the Chinese version shall prevail.
The Report for the First Quarter of2016—Changchai Company, Limited Section II Financial Results and Changes in Shareholders
I Financial results
Whether the Company performed any retroactive adjustments to or restatement of its accounting data due to changes of accounting policies or correction of accounting errors
□ Yes√ No
|||||
|-|-|-|-|
||January-March 2016|January-March 2015|+/-%|
|Operating revenues (RMB)|654,517,225.08|650,305,530.50|0.65%|
|Net profit attributable to shareholders|24,282,056.99|17,279,138.61||
||||40.53%|
|of the Company (RMB)||||
|Net profit attributable to shareholders||||
||24,946,954.15|15,137,500.97|64.80%|
|of the Company after exceptional profit||||
|and loss (RMB)||||
|Net operating cash flow (RMB)|-5,947,696.22|1,795,087.91|——|
|Basic earnings per share (RMB/share)|0.04|0.03|33.33%|
|Diluted earnings per share|0.04|0.03||
||||33.33%|
|(RMB/share)||||
|Weighted average return on equity (%)|1.22%|0.87%|0.35%|
||31 March 2016|31 December 2015|+/-%|
|Total assets (RMB)|3,197,334,506.97|3,232,406,102.20|-1.08%|
|Net assets attributable to shareholders|1,972,518,668.00|2,002,910,311.01||
||||-1.52%|
|of the Company (RMB)||||

Exceptional profit and loss
√ Applicable□ Inapplicable
Unit: RMB
||||
|-|-|-|
|Item|January-March 2016|Explanation|
|Gains/losses on the disposal of non-current assets|||
|(including the offset part of the asset impairment|198,012.66||
|provisions)|||
|Government grants recognized in the current period,|||
|except for those acquired in the ordinary course of|||
||153,000.00||
|business or granted at certain quotas or amounts|||
|according to the government’s unified standards|||
|Gains and losses on change in fair value from tradable|||
|financial assets and tradable financial liabilities, as well|||
||615,230.51||
|as investment income from disposal of tradable financial|||
|assets and tradable financial liabilities and financial|||

The Report for the First Quarter of2016—Changchai Company, Limited
||||
|-|-|-|
|assets available for sales except for effective hedging|||
|related with normal businesses of the Company|||
|Non-operating income and expense other than the above|-1,679,028.98||
|Less: Income tax effects|-47,888.65||
|Total|-664,897.16|--|

Explain the reasons if the Company classifies an item as exceptional profit/loss according to the definition in the Explanatory Announcement No. 1 on Information Disclosure for Companies Offering Their Securities to thePublic—Exceptional Profit and Loss, or classifies any exceptional profit/loss item mentioned in the said explanatory announcement as recurrent profit/loss
□ Applicable√ Not applicable
No such cases in the Reporting Period.
II Total number of shareholders at the period-end and shareholdings of top ten shareholders 1. Numbers of common shareholders and preference shareholders with resumed voting rights as well as shareholdings of top ten shareholders
Unit: share
|||||||||
|-|-|-|-|-|-|-|-|
||||Total number of|||||
||||preference shareholders|||||
|Total number of common||||||||
||54,693||with resumed voting||0|||
|shareholders at the period-end||||||||
||||rights at the period-end (if|||||
||||any)|||||
|Shareholdings of top ten shareholders||||||||
|||||||Pledged or frozen||
|||Shareholding||Number of||shares||
||Nature of||Number of|||||
|Name of shareholder||percentage||restricted shares|||Number|
||shareholder||shares held|||Status of||
|||(%)||held|||of|
|||||||shares||
||||||||shares|
|State-owned AssetsSupervision andAdministration Commission ofChangzhou MunicipalPeople’s Government|On behalf ofthe State|30.43%|170,845,236|||||
|Huang Lihou|Domesticindividual|1.00%|5,600,000|||||
|KGI Asia Limited|Overseascorporation|0.57%|3,224,845|||||
|Zhou You|Domesticindividual|0.56%|3,137,200|||||

The Report for the First Quarter of2016—Changchai Company, Limited
||||||||
|-|-|-|-|-|-|-|
|BNP Paribas WealthManagement Hong KongBranch|Overseascorporation||0.55%|3,099,873|||
|Xu Xingying|Domesticindividual||0.52%|2,944,700|||
|Wu Xiaoping|Domesticindividual||0.49%|2,775,300|||
|Sun Haiyan|Domesticindividual||0.47%|2,644,897|||
|Wang Jixiang|Domesticindividual||0.46%|2,555,200|||
|Bank of Communications Co.,Ltd.-Changxin Quantified CorePioneer Mixed InvestmentFund|Other||0.40%|2,271,889|||
|Shareholdings of top ten non-restricted shareholders|||||||
|||Number of non-restricted|||Variety of shares||
|Name of shareholder|||||||
|||shares held|||Variety|Number|
|State-owned Assets Supervision andAdministration Commission of ChangzhouMunicipal People’s Government||170,845,236|||||
||||||RMB ordinary shares|170,845,236|
|Huang Lihou||5,600,000|||RMB ordinary shares|5,600,000|
|KGI Asia Limited||3,224,845|||Domestically listed||
|||||||3,224,845|
||||||foreign shares||
|Zhou You||3,137,200|||RMB ordinary shares|3,137,200|
|BNP Paribas Wealth Management HongKong Branch||3,099,873|||Domestically listed||
|||||||3,099,873|
||||||foreign shares||
|Xu Xingying||2,944,700|||RMB ordinary shares|2,944,700|
|Wu Xiaoping||2,775,300|||RMB ordinary shares|2,775,300|
|Sun Haiyan||2,644,897|||RMB ordinary shares|2,644,897|
|Wang Jixiang||2,555,200|||RMB ordinary shares|2,555,200|
|Bank of Communications Co., Ltd.-Changxin Quantified Core Pioneer MixedInvestment Fund||2,271,889|||||
||||||RMB ordinary shares|2,271,889|
|||It is unknown whether there was any associated relationship among|||||
|Related or acting-in-concert parties among||the top ten tradable shareholders and among the top ten shareholders|||||
|the above shareholders||not subject to trading moratorium, or whether they are persons acting|||||
|||in concert as described by Measures for the Administrative of|||||

The Report for the First Quarter of2016—Changchai Company, Limited
|||
|-|-|
||Disclosure of Shareholder Equity Changes.|
||Shareholder Huang Lihou held a total of 5,600,000 shares in the|
||Company, representing a stake of 1.00%, through a common|
|Top ten common shareholders conducting|securities account and a client account of collateral securities for|
|securities margin trading (if any)|margin trading. Shareholder Sun Haiyan held 2,644,897 shares in the|
||Company (a stake of 0.47%) through a client account of collateral|
||securities for margin trading in China Galaxy Securities Co. , Ltd.|

 Did any of the top ten common shareholders or the top ten non-restricted common shareholders of the Company conduct any promissory repo during the Reporting Period?
□ Yea√ No
No such cases in the Reporting Period.
2. Total number of preference shareholders and shareholdings of the top ten of them
□ Applicable√ Not applicable
The Report for the First Quarter of2016—Changchai Company, Limited Section III Significant Events
I Changes in major accounting statement items and financial indicators for the Reporting Period, as well as reasons for such changes
√ Applicable□ Not applicable
1. Accounts receivable increased108.91% from the opening amount mainly because the Company properly allowedcustomers’ buying on credit according to its relevant agreements and marketing plans to expand its market space, and the percentage of multi-cylinder engines in the total sales increased (longer payment days for these customers for they mostly procure our multi-cylinder engines as a component).
2. Other accounts receivable increased220.69% from the opening amount mainly because of the temporary lendings from subsidiary Housheng Investment to Xuzhou East China Casting General Factory, etc.
3. Other current assets decreased53.72% from the opening amount mainly because some bank financial produces became due and the overpaid VAT decreased.
4. Payroll payable decreased38.70% from the opening amount mainly because some of the salary and bonus provisions made last year were paid in the Reporting Period.
5. Taxes and fares payable increased58.08% from the opening amount mainly because the inventories of the Company (without subsidiaries) decreased and the input VAT decreased accordingly.
6. Net profit attributable to owners of the Company increased40.53% from the same period of last year mainly because along with its product restructuring, the percentage of multi-cylinder engines in the total sales of the Company increased with its self-made components increasing accordingly, cost control produced remarkable results and the gross profit increased.
II Progress of significant events and analysis& explanations on their influence and solutions□ Applicable√ Not applicable
III Commitments of the Company, its shareholders, actual controller, acquirer, directors, supervisors, senior management or other related parties fulfilled in the Reporting Period or ongoing at the period-end
√ Applicable□ Not applicable
||||||||
|-|-|-|-|-|-|-|
|||||Date of|||
||Commitmen|Type of|||Term of||
|Commitment|||Contents|commitment||Fulfillment|
||t maker|commitment|||commitment||
|||||making|||
|Commitments made in|||||||

The Report for the First Quarter of2016—Changchai Company, Limited
||||||||
|-|-|-|-|-|-|-|
|share reform|||||||
|Commitments made in|||||||
|acquisition documents|||||||
|or shareholding|||||||
|alteration documents|||||||
|Commitments made in|||||||
|time of asset|||||||
|restructuring|||||||
|Commitments made in|||||||
|time of IPO or|||||||
|refinancing|||||||
|Commitments|||||||
|concerning stock|||||||
|ownership incentive|||||||
||||Under the conditions of in||||
||||future three years||||
||||(2014-2016) the||||
||||attributable profit (the||||
||||remaining profits after the||||
||||losses have been made up||||
||||and common reserves||||
||||have been drawn) of||||
||||shareholders’ reward plan||||
||||in the year or half year is||||
||||positive, and the cash||||
||||flow is sufficient, the cash||||
||Changchai|||||The|
|Other commitments|||dividends had no||||
||Company,|Bonus||||commitmen|
|made to minority|||influence to the follow-up|2014-05-14|Y2014-2016||
||Limited|commitment||||t was under|
|shareholders|||continuously operation,||||
|||||||progress.|
||||the profit dividends in||||
||||cash shall no lower than||||
||||the 10% of attributable||||
||||profit realized by the||||
||||Company and in any three||||
||||continuous accounting||||
||||years the accumulative||||
||||profit dividends in cash||||
||||shall no less than 30% of||||
||||the average annual||||
||||attributable profits||||
||||realized in three years.||||
|Executed on time|Yes||||||

The Report for the First Quarter of2016—Changchai Company, Limited IV Operating result forecast for January-June 2016
Warning of possible loss or considerable YoY change of the accumulated net profit made during the period-beginning to the end of the next reporting period according to prediction, as well as explanations on the reasons:
□Applicable√ Not applicable
V Securities investments
□ Applicable√ Not applicable
No such cases in the Reporting Period.
VI Investments in derivative financial instruments
□ Applicable√ Not applicable
No such cases in the Reporting Period.
VII Visits paid to the Company in the Reporting Period for purposes of research, communication, interview, etc.
√ Applicable□ Not applicable
|||||
|-|-|-|-|
|Date of visit|Way of visit|Type of visitor|Index to main inquiry information|
|5 Jan. 2016|Other|Individual|Stock price trend of the Company|
|6 Jan. 2016|Other|Individual|Stock price trend of the Company|
|6 Jan. 2016|Other|Individual|Future development planning of the Company|
|8 Jan. 2016|Other|Individual|Future products planning of the Company|
|11 Jan. 2016|Other|Individual|Stock price trend of the Company|
|20 Jan. 2016|Other|Individual|Situation of the export business of the Company|
|21 Jan. 2016|Other|Individual|Situation of the export business of the Company|
||||Situation of the reform of the state-owned|
|11 Feb. 2016|Other|Individual||
||||enterprises of the Company|
|23 Feb. 2016|Other|Individual|Number of the shareholders of the Company|
||||Situation of the joint stock company - Tsinghua|
|24 Feb. 2016|Other|Individual||
||||Industrial Co., Ltd. of the Company|
|10 Mar. 2016|Other|Individual|Number of the shareholders of the Company|
||||Situation of the held financial assets of the|
|28 Mar. 2016|Other|Individual||
||||Company|

The Report for the First Quarter of2016—Changchai Company, Limited VIII Illegal provision of guarantees for external parties
□ Applicable√ Not applicable
No such cases in the Reporting Period.
IX Occupation of theCompany’s funds by the controlling shareholder or its related parties for non-operating purposes
□ Applicable√ Not applicable
No such cases in the Reporting Period.
The Report for the First Quarter of2016—Changchai Company, Limited Section IV Financial Statements
I Financial statements
1. Consolidated balance sheet
Prepared by Changchai Company, Limited
31 March 2016
Unit: RMB
||||
|-|-|-|
|Item|Closing balance|Opening balance|
|Current assets:|||
|Monetary funds|562,434,957.86|601,312,715.62|
|Settlement reserves|||
|Lendings to banks and other|||
|financial institutions|||
|Financial assets measured at|||
|fair value with fair value changes|||
|included in the profit and loss for|||
|the Reporting Period|||
|Derivative financial assets|||
|Notes receivable|349,488,885.15|498,502,274.42|
|Accounts receivable|644,686,635.07|308,596,920.50|
|Accounts paid in advance|10,432,003.09|12,882,271.70|
|Premiums receivable|||
|Reinsurance premiums|||
|receivable|||
|Receivable reinsurance contract|||
|reserves|||
|Interest receivable|||
|Dividends receivable|||
|Other accounts receivable|18,031,185.95|5,622,539.81|
|Financial assets purchased|||
|under agreement to resell|||
|Inventories|299,166,586.04|397,290,012.36|
|Assets held for sale|||
|Non-current assets due within|||
|one year|||
|Other current assets|27,911,095.49|60,304,691.41|

The Report for the First Quarter of2016—Changchai Company, Limited
||||
|-|-|-|
|Total current assets|1,912,151,348.65|1,884,511,425.82|
|Non-current assets:|||
|Loans and advances to|||
|customers|||
|Available-for-sale financial|||
||438,658,000.00|502,980,000.00|
|assets|||
|Held-to-maturity investments|||
|Long-term accounts receivable|||
|Long-term equity investments|21,099,310.93|20,769,304.76|
|Investment property|56,728,944.83|57,281,030.03|
|Fixed assets|584,467,640.40|554,601,893.23|
|Construction in progress|80,983,227.28|108,198,455.01|
|Engineering materials|||
|Disposal of fixed assets|||
|Productive living assets|||
|Oil-gas assets|||
|Intangible assets|102,283,504.00|103,101,462.47|
|R&D expense|||
|Goodwill|||
|Long-term deferred expenses|||
|Deferred income tax assets|962,530.88|962,530.88|
|Other non-current assets|||
|Total non-current assets|1,285,183,158.32|1,347,894,676.38|
|Total assets|3,197,334,506.97|3,232,406,102.20|
|Current liabilities:|||
|Short-term borrowings|14,500,000.00|17,000,000.00|
|Borrowings from the Central|||
|Bank|||
|Money deposits accepted and|||
|inter-bank deposits|||
|Loans from banks and other|||
|financial institutions|||
|Financial liabilities measured at|||
|fair value with fair value changes|||
|included in the profit and loss for|||
|the Reporting Period|||
|Derivative financial liabilities|||
|Notes payable|248,060,000.00|238,200,000.00|
|Accounts payable|534,295,639.42|535,978,470.07|

The Report for the First Quarter of2016—Changchai Company, Limited
||||
|-|-|-|
|Accounts received in advance|19,857,553.77|26,665,671.38|
|Financial assets sold for|||
|repurchase|||
|Handling charges and|||
|commissions payable|||
|Payroll payable|36,966,883.82|60,309,349.29|
|Taxes and fares payable|17,069,477.97|10,798,062.93|
|Interest payable|||
|Dividends payable|3,891,433.83|3,891,433.83|
|Other accounts payable|224,040,462.19|201,151,632.46|
|Reinsurance premiums payable|||
|Insurance contract reserves|||
|Payables for acting trading of|||
|securities|||
|Payables for acting|||
|underwriting of securities|||
|Liabilities held for sale|||
|Non-current liabilities due|||
|within one year|||
|Other current liabilities|2,565,499.03|2,403,287.06|
|Total current liabilities|1,101,246,950.03|1,096,397,907.02|
|Non-current liabilities:|||
|Long-term borrowings|||
|Bonds payable|||
|Of which: Preference shares|||
|Perpetual bonds|||
|Long-term accounts payable|||
|Long-term payroll payable|||
|Special payables|||
|Estimated liabilities|||
|Deferred income|52,855,512.29|53,121,605.70|
|Deferred income tax liabilities|52,737,525.00|62,385,825.00|
|Other non-current liabilities|||
|Total non-current liabilities|105,593,037.29|115,507,430.70|
|Total liabilities|1,206,839,987.32|1,211,905,337.72|
|Owners’ equity:|||
|Share capital|561,374,326.00|561,374,326.00|
|Other equity instruments|||
|Of which: Preference shares|||

The Report for the First Quarter of2016—Changchai Company, Limited
||||
|-|-|-|
|Perpetual bonds|||
|Capital reserves|164,328,665.43|164,328,665.43|
|Less: Treasury stock|||
|Other composite income|298,845,975.00|353,519,675.00|
|Special reserves|10,069,746.98|10,069,746.98|
|Surplus reserves|305,758,285.91|305,758,285.91|
|Provisions for general risks|||
|Retained profit|632,141,668.68|607,859,611.69|
|Total equity attributable to owners|||
||1,972,518,668.00|2,002,910,311.01|
|of the Company|||
|Minority interests|17,975,851.65|17,590,453.47|
|Total owners’ equity|1,990,494,519.65|2,020,500,764.48|
|Total liabilities and owners’|||
||3,197,334,506.97|3,232,406,102.20|
|equity|||

Legal representative: Xue Guojun Chief of the accounting work: He Jianguang Chief of the accounting organ: Jiang He
The Report for the First Quarter of2016—Changchai Company, Limited 2. Balance sheet of the Company
Unit: RMB
||||
|-|-|-|
|Item|Closing balance|Opening balance|
|Current assets:|||
|Monetary funds|543,924,499.35|572,530,396.20|
|Financial assets measured at|||
|fair value of which changes are|||
|recorded in current profits and|||
|losses|||
|Derivative financial assets|||
|Notes receivable|343,288,885.15|490,777,874.42|
|Accounts receivable|599,575,757.76|263,878,166.23|
|Accounts paid in advance|6,072,839.66|6,512,574.55|
|Interest receivable|||
|Dividend receivable|||
|Other accounts receivable|6,276,129.42|4,885,363.01|
|Inventories|241,811,749.28|348,179,430.41|
|Assets held for sale|||
|Non-current assets due within 1|||
|year|||
|Other current assets|10,000,000.00|41,403,182.61|
|Total current assets|1,750,949,860.62|1,728,166,987.43|
|Non-current assets:|||
|Available-for-sale financial|||
||431,458,000.00|495,780,000.00|
|assets|||
|Held-to-maturity investments|||
|Long-term accounts receivable|||
|Long-term equity investment|205,565,810.93|205,235,804.76|
|Investing real estate|56,728,944.83|57,281,030.03|
|Fixed assets|477,346,533.42|445,343,167.61|
|Construction in progress|80,961,005.06|108,198,455.01|
|Engineering materials|||
|Disposal of fixed assets|||
|Production biological assets|||

The Report for the First Quarter of2016—Changchai Company, Limited
||||
|-|-|-|
|Oil-gas assets|||
|Intangible assets|80,488,175.70|81,159,855.82|
|R&D expense|||
|Goodwill|||
|Long-term deferred expenses|||
|Deferred income tax assets|962,530.88|962,530.88|
|Other non-current assets|||
|Total of non-current assets|1,333,511,000.82|1,393,960,844.11|
|Total assets|3,084,460,861.44|3,122,127,831.54|
|Current liabilities:|||
|Short-term borrowings|||
|Financial liabilities measured at|||
|fair value of which changes are|||
|recorded in current profits and|||
|losses|||
|Derivative financial liabilities|||
|Notes payable|224,060,000.00|218,200,000.00|
|Accounts payable|523,597,730.22|527,416,373.82|
|Accounts received in advance|18,646,628.29|24,537,940.90|
|Payroll payable|32,941,229.17|55,068,743.12|
|Tax payable|16,085,172.95|8,521,233.87|
|Interest payable|||
|Dividend payable|3,243,179.97|3,243,179.97|
|Other accounts payable|217,534,236.13|194,650,090.70|
|Liabilities held for sale|||
|Non-current liabilities due|||
|within 1 year|||
|Other current liabilities|||
|Total current liabilities|1,036,108,176.73|1,031,637,562.38|
|Non-current liabilities:|||
|Long-term borrowings|||
|Bonds payable|||
|Of which: preference shares|||
|Perpetual bonds|||
|Long-term payables|||

The Report for the First Quarter of2016—Changchai Company, Limited
||||
|-|-|-|
|Long-term payroll payables|||
|Specific payables|||
|Estimated liabilities|||
|Deferred income|52,855,512.29|53,121,605.70|
|Deferred income tax liabilities|52,737,525.00|62,385,825.00|
|Other non-current liabilities|||
|Total non-current liabilities|105,593,037.29|115,507,430.70|
|Total liabilities|1,141,701,214.02|1,147,144,993.08|
|Owners’ equity:|||
|Share capital|561,374,326.00|561,374,326.00|
|Other equity instruments|||
|Of which: preference shares|||
|Perpetual bonds|||
|Capital reserves|183,071,147.70|183,071,147.70|
|Less: Treasury stock|||
|Other comprehensive income|298,845,975.00|353,519,675.00|
|Specific reserves|10,069,746.98|10,069,746.98|
|Surplus reserves|305,758,285.91|305,758,285.91|
|Retained profits|583,640,165.83|561,189,656.87|
|Total owners’ equity|1,942,759,647.42|1,974,982,838.46|
|Total liabilities and owners’|||
||3,084,460,861.44|3,122,127,831.54|
|equity|||

The Report for the First Quarter of2016—Changchai Company, Limited 3. Consolidated income statement
Unit: RMB
||||
|-|-|-|
|Item|January-March 2016|January-March 2015|
|I. Operating revenues|654,517,225.08|650,305,530.50|
|Including: Sales income|654,517,225.08|650,305,530.50|
|Interest income|||
|Premium income|||
|Handling charge and|||
|commission income|||
|II. Operating costs|624,697,612.11|631,372,352.57|
|Including: Cost of sales|558,899,175.07|581,556,792.13|
|Interest expenses|||
|Handling charge and|||
|commission expenses|||
|Surrenders|||
|Net claims paid|||
|Net amount withdrawn for|||
|the insurance contract reserve|||
|Expenditure on policy|||
|dividends|||
|Reinsurance premium|||
|Taxes and associate charges|147,752.78|51,569.72|
|Selling and distribution|||
||25,269,299.51|26,292,007.54|
|expenses|||
|Administrative expenses|34,596,836.45|25,983,523.18|
|Financial expenses|-1,367,596.96|-2,511,540.00|
|Asset impairment loss|7,152,145.26||
|Add: Gain/(loss) from change in|||
|||16,200.33|
|fair value (“-” means loss)|||
|Gain/(loss) from investment|||
||945,236.68|1,039,660.19|
|(“-” means loss)|||
|Including: share of profits in|||
|associates and joint ventures|||
|Foreign exchange gains (“-”|||
|means loss)|||
|III. Business profit (“-” means loss)|30,764,849.65|19,989,038.45|

The Report for the First Quarter of2016—Changchai Company, Limited
||||
|-|-|-|
|Add: non-operating income|984,455.09|2,741,907.52|
|Including: Gains on|||
|disposal of non-current assets|||
|Less: non-operating expense|2,132,964.56|1,403,902.58|
|Including: Losses on|||
|disposal of non-current assets|||
|IV. Total profit (“-” means loss)|29,616,340.18|21,327,043.39|
|Less: Income tax expense|4,948,885.01|3,712,400.09|
|V. Net profit (“-” means loss)|24,667,455.17|17,614,643.30|
|Net profit attributable to|||
||24,282,056.99|17,279,138.61|
|owners of the Company|||
|Minority shareholders’ income|385,398.18|335,504.69|
|VI. After-tax net amount of other|||
||-64,322,000.00|79,240,825.00|
|comprehensive incomes|||
|After-tax net amount of other|||
|comprehensive incomes|||
||-64,322,000.00|79,240,825.00|
|attributable to owners of the|||
|Company|||
|(I) Other comprehensive|||
|incomes that will not be|||
|reclassified into gains and losses|||
|1. Changes in net|||
|liabilities or assets with a defined|||
|benefit plan upon re-measurement|||
|2. Enjoyable shares in|||
|other comprehensive incomes in|||
|investees that cannot be reclassified|||
|into gains and losses under the|||
|equity method|||
|(II) Other comprehensive|||
|incomes that will be reclassified|-64,322,000.00|79,240,825.00|
|into gains and losses|||
|1. Enjoyable shares in|||
|other comprehensive incomes in|||
|investees that will be reclassified|||
|into gains and losses under the|||
|equity method|||
|2. Gains and losses on|||
||-64,322,000.00|79,240,825.00|
|fair value changes of|||

The Report for the First Quarter of2016—Changchai Company, Limited
||||
|-|-|-|
|available-for-sale financial assets|||
|3. Gains and losses on|||
|reclassifying held-to-maturity|||
|investments into available-for-sale|||
|financial assets|||
|4. Effective hedging|||
|gains and losses on cash flows|||
|5. Foreign-currency|||
|financial statement translation|||
|difference|||
|6. Other|||
|After-tax net amount of other|||
|comprehensive incomes|||
|attributable to minority|||
|shareholders|||
|VII. Total comprehensive incomes|-39,654,544.83|96,855,468.30|
|Attributable to owners of the|||
||-40,039,943.01|96,519,963.61|
|Company|||
|Attributable to minority|||
||385,398.18|335,504.69|
|shareholders|||
|VIII. Earnings per share|||
|(I) Basic earnings per share|0.04|0.03|
|(II) Diluted earnings per share|0.04|0.03|

 Legal representative: Xue Guojun Chief of the accounting work: He Jianguang Chief of the accounting organ: Jiang He
The Report for the First Quarter of2016—Changchai Company, Limited 4. Income statement of the Company
Unit: RMB
||||
|-|-|-|
|Item|January-March 2016|January-March 2015|
|I. Total sales|640,749,505.25|653,717,912.77|
|Less: cost of sales|553,421,857.04|590,131,833.35|
|Business taxes and|||
|surcharges|||
|Distribution expenses|23,769,408.12|25,475,290.53|
|Administrative expenses|30,006,219.55|21,862,823.16|
|Financial costs|-1,638,329.38|-2,958,248.10|
|Impairment loss|7,152,145.26||
|Add: gain/(loss) from change in|||
|fair value (“-” means loss)|||
|Gain/(loss) from investment|||
||509,513.02|0.00|
|(“-” means loss)|||
|Including: income from|||
|investment on associates and joint|330,006.17||
|ventures|||
|II. Business profit (“-” means|||
||28,547,717.68|19,206,213.83|
|loss)|||
|Add: non-operating income|807,500.77|2,226,636.67|
|Including: Gains on disposal|||
|of non-current assets|||
|Less: non-operating expense|2,132,964.56|1,403,902.58|
|Including: Losses on disposal|||
|of non-current assets|||
|III. Total profit (“-” means loss)|27,222,253.89|20,028,947.92|
|Less: Income tax expense|4,771,744.93|3,504,342.19|
|IV. Net profit (“-” means loss)|22,450,508.96|16,524,605.73|
|V. After-tax net amount of other|||
||-64,322,000.00|79,240,825.00|
|comprehensive incomes|||
|(I) Other comprehensive|||
|incomes that will not be|||
|reclassified into gains and losses|||
|1. Changes in net liabilities|||
|or assets with a defined benefit|||

The Report for the First Quarter of2016—Changchai Company, Limited
||||
|-|-|-|
|plan upon re-measurement|||
|2. Enjoyable shares in other|||
|comprehensive incomes in|||
|investees that cannot be|||
|reclassified into gains and losses|||
|under the equity method|||
|(II) Other comprehensive|||
|incomes that will be reclassified|-64,322,000.00|79,240,825.00|
|into gains and losses|||
|1. Enjoyable shares in other|||
|comprehensive incomes in|||
|investees that will be reclassified|||
|into gains and losses under the|||
|equity method|||
|2. Gains and losses on fair|||
|value changes of|-64,322,000.00|79,240,825.00|
|available-for-sale financial assets|||
|3. Gains and losses on|||
|reclassifying held-to-maturity|||
|investments into available-for-sale|||
|financial assets|||
|4. Effective hedging gains|||
|and losses on cash flows|||
|5. Foreign-currency financial|||
|statement translation difference|||
|6. Other|||
|VI. Total comprehensive incomes|-41,871,491.04|95,765,430.73|
|VII. Earnings per share|||
|(I) Basic earnings per share|||
|(II) Diluted earnings per share|||

The Report for the First Quarter of2016—Changchai Company, Limited 5. Consolidated cash flow statement
Unit: RMB
||||
|-|-|-|
|Item|January-March 2016|January-March 2015|
|I. Cash flows from operating|||
|activities:|||
|Cash received from sale of|||
|commodities and rendering of|570,710,622.97|625,633,539.16|
|service|||
|Net increase of deposits from|||
|customers and dues from banks|||
|Net increase of loans from the|||
|central bank|||
|Net increase of funds borrowed|||
|from other financial institutions|||
|Cash received from premium|||
|of original insurance contracts|||
|Net cash received from|||
|reinsurance business|||
|Net increase of deposits of|||
|policy holders and investment|||
|fund|||
|Net increase of disposal of|||
|financial assets measured at fair|||
|value of which changes are|||
|recorded into current gains and|||
|losses|||
|Cash received from interest,|||
|handling charges and|||
|commissions|||
|Net increase of intra-group|||
|borrowings|||
|Net increase of funds in|||
|repurchase business|||
|Tax refunds received|15,643,486.32|17,902,474.19|
|Other cash received relating to|||
||3,992,946.72|4,650,532.01|
|operating activities|||
|Subtotal of cash inflows from|||
||590,347,056.01|648,186,545.36|
|operating activities|||
|Cash paid for goods and|464,404,385.99|539,391,667.22|

The Report for the First Quarter of2016—Changchai Company, Limited
||||
|-|-|-|
|services|||
|Net increase of customer|||
|lendings and advances|||
|Net increase of funds deposited|||
|in the central bank and amount|||
|due from banks|||
|Cash for paying claims of the|||
|original insurance contracts|||
|Cash for paying interest,|||
|handling charges and|||
|commissions|||
|Cash for paying policy|||
|dividends|||
|Cash paid to and for employees|100,039,282.31|85,163,263.66|
|Various taxes paid|11,273,422.74|11,994,626.47|
|Other cash payment relating to|||
||20,577,661.19|9,841,900.10|
|operating activities|||
|Subtotal of cash outflows from|||
||596,294,752.23|646,391,457.45|
|operating activities|||
|Net cash flows from operating|||
||-5,947,696.22|1,795,087.91|
|activities|||
|II. Cash flows from investing|||
|activities:|||
|Cash received from withdrawal|||
||10,000,000.00||
|of investments|||
|Cash received from return on|||
||534,897.17|918,882.41|
|investments|||
|Net cash received from|||
|disposal of fixed assets,|||
||21,690.00||
|intangible assets and other|||
|long-term assets|||
|Net cash received from|||
|disposal of subsidiaries or other|||
|business units|||
|Other cash received relating|||
|||0.00|
|to investing activities|||
|Subtotal of cash inflows from|||
||10,556,587.17|918,882.41|
|investing activities|||
|Cash paid to acquire fixed|25,322,380.08|18,697,864.76|

The Report for the First Quarter of2016—Changchai Company, Limited
||||
|-|-|-|
|assets, intangible assets and other|||
|long-term assets|||
|Cash paid for investment||17,000,000.00|
|Net increase of pledged loans|||
|Net cash paid to acquire|||
|subsidiaries and other business|||
|units|||
|Other cash payments relating|||
||11,000,000.00|11,000,000.00|
|to investing activities|||
|Subtotal of cash outflows from|||
||36,322,380.08|46,697,864.76|
|investing activities|||
|Net cash flows from investing|||
||-25,765,792.91|-45,778,982.35|
|activities|||
|III. Cash Flows from Financing|||
|Activities:|||
|Cash received from capital|||
|contributions|||
|Including: Cash received|||
|from minority shareholder|||
|investments by subsidiaries|||
|Cash received from|||
|borrowings|||
|Cash received from issuance|||
|of bonds|||
|Other cash received relating|||
|to financing activities|||
|Subtotal of cash inflows from|||
|financing activities|||
|Repayment of borrowings|2,500,000.00||
|Cash paid for interest|||
|expenses and distribution of|222,291.66|389,999.99|
|dividends or profit|||
|Including: dividends or|||
|profit paid by subsidiaries to|||
|minority shareholders|||
|Other cash payments|||
|relating to financing activities|||
|Sub-total of cash outflows from|||
||2,722,291.66|389,999.99|
|financing activities|||

The Report for the First Quarter of2016—Changchai Company, Limited
||||
|-|-|-|
|Net cash flows from financing|||
||-2,722,291.66|-389,999.99|
|activities|||
|IV. Effect of foreign exchange|||
|rate changes on cash and cash|||
|equivalents|||
|V. Net increase in cash and cash|||
||-34,435,780.79|-44,373,894.43|
|equivalents|||
|Add: Opening balance of|||
||526,716,238.21|464,761,820.50|
|cash and cash equivalents|||
|VI. Closing balance of cash and|||
||492,280,457.42|420,387,926.07|
|cash equivalents|||

The Report for the First Quarter of2016—Changchai Company, Limited 6. Cash flow statement of the Company
Unit: RMB
||||
|-|-|-|
|Item|January-March 2016|January-March 2015|
|I. Cash flows from operating|||
|activities:|||
|Cash received from sale of|||
|commodities and rendering of|543,059,255.40|628,848,753.52|
|service|||
|Tax refunds received|15,643,486.32|17,902,474.19|
|Other cash received relating to|||
||3,610,928.20|3,870,921.63|
|operating activities|||
|Subtotal of cash inflows from|||
||562,313,669.92|650,622,149.34|
|operating activities|||
|Cash paid for goods and|||
||460,862,240.63|553,755,368.09|
|services|||
|Cash paid to and for employees|90,442,815.25|75,589,704.96|
|Various taxes paid|8,725,658.60|11,517,533.51|
|Other cash payment relating to|||
||18,518,292.09|7,615,099.14|
|operating activities|||
|Subtotal of cash outflows from|||
||578,549,006.57|648,477,705.70|
|operating activities|||
|Net cash flows from operating|||
||-16,235,336.65|2,144,443.64|
|activities|||
|II. Cash flows from investing|||
|activities:|||
|Cash received from retraction|||
||10,000,000.00||
|of investments|||
|Cash received from return on|||
||179,506.85||
|investments|||
|Net cash received from|||
|disposal of fixed assets,|||
||21,690.00||
|intangible assets and other|||
|long-term assets|||
|Net cash received from|||
|disposal of subsidiaries or other|||
|business units|||
|Other cash received relating to|||
|investing activities|||
|Subtotal of cash inflows from|10,201,196.85|0.00|

The Report for the First Quarter of2016—Changchai Company, Limited
||||
|-|-|-|
|investing activities|||
|Cash paid to acquire fixed|||
|assets, intangible assets and other|24,129,780.08|16,769,264.76|
|long-term assets|||
|Cash paid for investment||10,000,000.00|
|Net cash paid to acquire|||
|subsidiaries and other business|||
|units|||
|Other cash payments relating|||
|to investing activities|||
|Subtotal of cash outflows from|||
||24,129,780.08|26,769,264.76|
|investing activities|||
|Net cash flows from investing|||
||-13,928,583.23|-26,769,264.76|
|activities|||
|III. Cash Flows from Financing|||
|Activities:|||
|Cash received from capital|||
|contributions|||
|Cash received from|||
|borrowings|||
|Cash received from issuance|||
|of bonds|||
|Other cash received relating|||
|to financing activities|||
|Subtotal of cash inflows from|||
|financing activities|||
|Repayment of borrowings|||
|Cash paid for interest|||
|expenses and distribution of|||
|dividends or profit|||
|Other cash payments|||
|relating to financing activities|||
|Sub-total of cash outflows from|||
|financing activities|||
|Net cash flows from financing|||
|activities|||
|IV. Effect of foreign exchange|||
|rate changes on cash and cash|||
|equivalents|||

The Report for the First Quarter of2016—Changchai Company, Limited
||||
|-|-|-|
|V. Net increase in cash and cash|||
||-30,163,919.88|-24,624,821.12|
|equivalents|||
|Add: Opening balance of|||
||503,933,918.79|430,758,675.98|
|cash and cash equivalents|||
|VI. Closing balance of cash and|||
||473,769,998.91|406,133,854.86|
|cash equivalents|||

IIAuditor’s report
Is this Report audited?
□ Yes√ No
This Report is not audited.