Stock code: 000570, 200570 Stock name: Changchai, Changchai B Announcement Number: 2025-018
CHANGCHAI COMPANY, LIMITED
2025 First Quarter Report
The company and all members of the board of directors guarantee that the information disclosed is true,accurate, and complete, without false records, misleading statements, or significant omissions.Important Notes:
1.The Board of Directors (or the “Board”), the Supervisory Committee as well as the directors, supervisors andsenior management of Changchai Company, Limited (hereinafter referred to as the “Company”) hereby guaranteethe factuality, accuracy and completeness of the contents of this Quarter Report and its summary, and shall be jointlyand severally liable for any misrepresentations, misleading statements or material omissions therein.
2.The Company’s legal representative and General Manager, head of the Company’s financial department(equivalent to financial manager) hereby guarantee that the Financial Statements carried in this Quarter Report arefactual, accurate and complete.
3.Has the first quarter report been audited
? Yes ? No
I. Key Financial Information
1. Major Accounting Data and Financial Indicators
Whether the Company Needs to Retrospectively Adjust or Restate Prior Years' Accounting Data? Yes ? No
| January to March 2025 | January to March 2024 | Increase or decrease in this reporting period compared to the same period last year（%） | |
| Operating revenue (RMB) | 897,763,657.72 | 836,479,520.73 | 7.33% |
| Net profit attributable to the listed company’s shareholders (RMB) | 43,720,636.95 | 32,382,777.70 | 35.01% |
| Net profit attributable to the listed company’s shareholders before exceptional gains and losses (RMB) | 40,468,902.21 | 39,340,826.68 | 2.87% |
| Net cash generated from/used in operating activities (RMB) | -14,769,195.97 | -16,877,796.78 | —— |
| Basic earnings per share (RMB/share) | 0.0620 | 0.0459 | 35.08% |
| Diluted earnings per share (RMB/share) | 0.0620 | 0.0459 | 35.08% |
| Weighted average return on equity (%) | 1.29% | 0.95% | 0.34% |
| 31 March 2025 | 31 December 2024 | Change of 31 March 2025 over 31 December 2024（%） | |
| Total assets (RMB) | 5,567,073,520.36 | 5,381,900,903.82 | 3.44% |
| Equity attributable to the listed company’s shareholders (RMB) | 3,393,990,334.42 | 3,362,683,464.32 | 0.93% |
2. Exceptional Gains and Losses
? Applicable □ Not applicable
Unit: RMB
| Item | Amount for the current reporting period | Note |
| Gain or loss on disposal of non-current assets (inclusive of impairment allowance write-offs) | 159,478.53 | |
| Gain or loss on fair-value changes in financial assets and liabilities held by a non-financial enterprise, as well as on disposal of financial assets and liabilities (exclusive of the effective portion of hedges that arise in the Company’s ordinary course of business) | 2,712,751.12 | |
| Profit and loss from entrusting others to invest or manage assets | 1,280,302.33 | |
| Non-operating income and expense other than the above | 8,482.40 | |
| Less: Income tax effects | 909,095.44 |
| Non-controlling interests effects (net of tax) | 184.20 | |
| Total | 3,251,734.74 | -- |
Particulars about other items that meet the definition of exceptional gain/loss:
□ Applicable √ Not applicable
No such cases for the Reporting Period.Explanation of why the Company reclassifies as recurrent an exceptional gain/loss item listed in the ExplanatoryAnnouncement No. 1 on Information Disclosure for Companies Offering Their Securities to the Public—Exceptional Gain/Loss Items:
□ Applicable ? Not applicable
No such cases for the Reporting Period.
3. The situation and reasons for changes in major accounting data and financial indicators?Applicable ? Not Applicable
(1) Consolidated balance sheet items
| Items | Ending balance (RMB) | Beginning balance (RMB) | Year-over-Year Increase/Decrease | Reason for change |
| Trading Financial Assets | 452,186,981.77 | 303,667,459.65 | 48.91% | Mainly due to an increase in the company's purchase of financial products during the reporting period. |
| Accounts Receivable | 1,050,201,157.01 | 444,254,240.02 | 136.40% | The main reason is that most of the company's multi cylinder engine customers are main engine supporting units with relatively long payment terms. At the same time, due to the upgrade of product emissions, the company increased its market expansion efforts and moderately extended credit during the reporting period, resulting in a significant increase in accounts receivable. |
| Accounts Receivable Financing | 119,118,440.25 | 223,261,002.76 | -46.65% | Mainly due to discounting some bank acceptance bills with higher credit ratings during the reporting period. |
| Other Receivables | 3,544,611.26 | 9,847,441.82 | -64.00% | Mainly due to receiving dividends from Jiangsu Bank for the first half of 2024 during the reporting period. |
| Other Current Assets | 21,819,188.44 | 54,605,021.67 | -60.04% | Mainly due to a decrease in the amount of value-added tax credits retained during the reporting period. |
| Short-term Borrowings | 163,670,551.71 | 94,471,787.41 | 73.25% | Mainly due to the discounting of bank acceptance bills with lower credit ratings by the company during the reporting period. |
| Employee Benefits Payable | 18,073,811.95 | 48,792,254.98 | -62.96% | Mainly due to the payment of a portion of the previously accrued wages and bonuses during the reporting period. |
| Taxes Payable | 26,788,401.75 | 4,214,324.70 | 535.65% | The main reason for the increase in sales revenue and net profit during the reporting period is the corresponding increase in value-added tax and corporate income tax payable by the company. |
(2) Consolidated income statement items
| Items | Reporting Period (RMB) | Same period of last year (RMB) | Year-over-Year Increase/Decrease | Reason for change |
| Taxes and Surtaxes | 6,359,256.55 | 4,683,468.33 | 35.78% | Mainly due to the year-on-year increase in urban maintenance and construction tax and education surcharge during the reporting period. |
| Finance Costs | -2,222,413.95 | -3,640,059.02 | —— | Due to a year-on-year decrease in exchange gains and interest income during the reporting period. |
| Other Income | 7,809,990.08 | 205,752.64 | 3695.82% | Due to the advanced manufacturing value-added tax deduction the company enjoyed during the reporting period. |
| Investment Income | 1,200,239.83 | 523,222.06 | 129.39% | Due to a year-on-year increase in the interest income from trading financial assets during the reporting period. |
| Gain on Changes in Fair Value | 2,712,751.12 | -13,802,251.45 | —— | The increase in fair value of the stocks of Jiangsu Liance Electromechanical Technology Co., Ltd. and Kailong High tech Co., Ltd. held by Changzhou Horizon Investment Co., Ltd., a wholly-owned subsidiary of the company during the reporting period. |
| Asset Impairment Loss | -114,253.77 | -57,832.48 | —— | Mainly due to the year-on-year increase in provision for impairment of assets such as inventory during the reporting period. |
| Asset Disposal Income | 159,478.53 | 421,678.54 | -62.18% | Mainly due to a year-on-year decrease in the disposal of fixed assets during the reporting period. |
| Non-operating Income | 19,310.77 | 370,474.42 | -94.79% | Mainly due to receiving equipment compensation from the insurance company in the previous period, while there were no such incidents during the reporting period. |
| Non-operating | 10,828.37 | 103,614.09 | -89.55% | Mainly due to the year-on-year |
| Expense | decrease in scrap losses during the reporting period. | |||
| Net profit attributable to shareholders of the parent company | 43,720,636.95 | 32,382,777.70 | 35.01% | Mainly due to the year-on-year increase in the company's operating revenue during the reporting period. The company's other income from advanced manufacturing value-added tax deduction has increased year-on-year. The increase in fair value gains from trading financial assets held by the wholly-owned subsidiary Changzhou Horizon Investment Co., Ltd. |
| Changes in fair value of other equity instrument investments | -13,734,300.00 | 24,066,900.00 | —— | Due to the decrease in fair value of the stocks held by the company in Beiqi Foton Motor Co., Ltd. and Jiangsu Bank Co., Ltd. during the reporting period. |
| Net amount after tax of other comprehensive income attributable to the parent company | -13,734,300.00 | 24,066,900.00 | —— | Same as above. |
| Total comprehensive income attributable to the owners of the parent company | 29,986,336.95 | 56,449,677.70 | -46.88% | Mainly due to the decrease in fair value of the stocks held by the company in Beiqi Foton Motor Co., Ltd. and Jiangsu Bank Co., Ltd. during the reporting period. |
| Total comprehensive income | 31,886,460.45 | 58,115,570.84 | -45.13% | Same as above. |
(3) Consolidated cash flow statement items
| Items | Reporting Period (RMB) | Same period of last year (RMB) | Year-over-Year Increase/Decrease | Reason for change |
| Refunds of taxes | 28,359,296.44 | 6,692,216.64 | 323.77% | Due to the year-on-year increase in export tax rebates during the reporting period. |
| Subtotal of cash inflows from investing activities | 252,005,553.47 | 102,834,238.96 | 145.06% | Due to the year-on-year increase in financial products due during the reporting period. |
| Subtotal of cash outflows from investing activities | 390,369,438.13 | 290,701,450.75 | 34.29% | Mainly due to the year-on-year increase in the company's purchase of financial products during the reporting period. |
II. Shareholder Information
1.Table of Ordinary Shareholders and Shareholders with Restored Voting Rights of Preferred Shares, andShareholding Details of the Top 10 Shareholders
Unit: share
| Number of ordinary shareholders | 53,790 | Number of preferred shareholders with resumed voting rights | 0 | |||||||
| Shareholding situation of the top 10 shareholders (excluding shares lent through refinancing) | ||||||||||
| Name of shareholder | Nature of shareholder | Shareholding percentage | Total shares held at the period-end | Number of shares with limited selling conditions held | Restricted shares held | |||||
| Status | Shares | |||||||||
| Changzhou Investment Group Co., Ltd. | State-owned legal person | 32.26% | 227,663,417.00 | 0.00 | N/A | 0.00 | ||||
| Bank of China Limited- Huashang Selection Return Hybrid Securities Investment Fund | Others | 0.58% | 4,103,000.00 | |||||||
| Chen Jian | Domestic natural person | 0.51% | 3,609,800.00 | |||||||
| Bank of China Limited-Huashang Vision Value Hybrid Securities Investment Fund | Others | 0.47% | 3,343,700.00 | |||||||
| KGI ASIA LIMITED | Overseas legal entity | 0.44% | 3,100,195.00 | |||||||
| Industrial and Commercial Bank of China Limited-Huashang LeXiang Internet Flexible Allocation Hybrid Securities Investment Fund | Others | 0.26% | 1,853,900.00 | |||||||
| Zhang Yunzhen | Domestic natural person | 0.26% | 1,850,000.00 | |||||||
| China Minsheng Bank Co., Ltd.- Jinyuan Shun'an Yuanqi Flexible Allocation Hybrid Securities Investment Fund | Others | 0.24% | 1,700,000.00 | |||||||
| Li Suinan | Domestic natural person | 0.23% | 1,600,300.00 | |||||||
| Zhang Wenbing | Domestic natural person | 0.22% | 1,556,700.00 | |||||||
| Top 10 unrestricted shareholders（Excluding shares lent through refinancing and executive lock up shares） | ||||||||||
| Name of shareholder | Unrestricted shares held at the period-end | Shares by type | ||||||||
| Type | Shares | |||||||||
| Changzhou Investment Group Co., Ltd. | 227,663,417.00 | RMB-denominated ordinary share | 227,663,417.00 | |||||||
| Bank of China Limited- Huashang Selection Return Hybrid Securities Investment Fund | 4,103,000.00 | RMB-denominated ordinary share | 4,103,000.00 | |
| Chen Jian | 3,609,800.00 | RMB-denominated ordinary share | 3,609,800.00 | |
| Bank of China Limited-Huashang Vision Value Hybrid Securities Investment Fund | 3,343,700.00 | RMB-denominated ordinary share | 3,343,700.00 | |
| KGI ASIA LIMITED | 3,100,195.00 | Domestically listed foreign share | 3,100,195.00 | |
| Industrial and Commercial Bank of China Limited-Huashang LeXiang Internet Flexible Allocation Hybrid Securities Investment Fund | 1,853,900.00 | RMB-denominated ordinary share | 1,853,900.00 | |
| Zhang Yunzhen | 1,850,000.00 | RMB-denominated ordinary share | 1,850,000.00 | |
| China Minsheng Bank Co., Ltd.- Jinyuan Shun'an Yuanqi Flexible Allocation Hybrid Securities Investment Fund | 1,700,000.00 | RMB-denominated ordinary share | 1,700,000.00 | |
| Li Suinan | 1,600,300.00 | Domestically listed foreign share | 1,600,300.00 | |
| Zhang Wenbing | 1,556,700.00 | RMB-denominated ordinary share | 1,556,700.00 | |
| Explanation of the shareholder relationship or concerted action mentioned above | It is unknown whether there is among the top 10 public shareholders and the top 10 unrestricted public shareholders any related parties or acting-in-concert parties as defined in the Administrative Measures for Information Regarding Shareholding Alteration. | |||
| Explanation on the participation of the top 10 shareholders in margin trading and securities lending business | Shareholder Chen Jian holds 3,609,800 shares of the company's stock through a credit account. | |||
5% or greater shareholders, top 10 shareholders and Top 10 unrestricted shareholders involved in refinancing shareslending
□Applicable ? Not applicable
Changes in top 10 shareholders and top 10 unrestricted shareholders due to refinancing shares lending/returncompared with the prior period
□Applicable ? Not applicable
2. Table of Total Number of Preferred Shareholders and Shareholding Status of the Top 10 PreferredShareholders in the Company? Applicable ? Not ApplicableIII. Other important matters?Applicable ? Not Applicable
1. Changchai Robin’s Merger with Horizon Agricultural Equipment
On November 22, 2024, the company held the fifth extraordinary meeting of the board of directors for 2024,and approved the proposal on the merger of Changzhou Changchai Horizon Agricultural Equipment Co., Ltd. andChangzhou Fuji Changchai Robin Gasoline Engine Co., Ltd. The board of directors agreed that the wholly-ownedsubsidiary Changzhou Fuji Changchai Robin Gasoline Engine Co., Ltd. (referred to as "Changchai Robin") wouldinherit all assets, liabilities, business and other rights and obligations of the wholly-owned subsidiary ChangzhouChangchai Horizon Agricultural Equipment Co., Ltd. (referred to as " Horizon Agricultural Equipment") throughoverall absorption and merger. After the merger is completed, Changchai Robin will continue to operate normally,and the independent legal entity qualification of Horizon Agricultural Equipment will be cancelled. In February2025, the company received a registration notice (Registration Notice No. [2025] 02270081) issued by theGovernment Service Management Office of Changzhou High tech Industrial Development Zone (Xinbei District),stating that the independent legal person qualification of Horizon Agricultural Equipment has been cancelled, andthe merger of two wholly-owned subsidiaries has been completed.
2. Part of the company's properties will be subject to expropriation
On February 26, 2025, the company received a notice from the People's Government of Zhonglou District,Changzhou City, regarding the announcement of the "Compensation Plan for House Expropriation of the WestHengjie Station Project of Changzhou Urban Rail Transit Line 5" and soliciting opinions. Due to public interestrequirements, the People's Government of Zhonglou District, Changzhou City plans to expropriate houses withinthe scope of the West Hengjie Station project of Changzhou Urban Rail Transit Line 5. The specific compensationamount for expropriation shall be subject to the officially signed expropriation compensation agreement. Thecompany will closely follow up on the progress of expropriation and promptly fulfill relevant review proceduresand information disclosure obligations.
3. The company's foundry building will be subject to expropriation
On March 6, 2025, the company received the "Decision on the Expropriation of Houses on State owned Landby the People's Government of Xinbei District, Changzhou City" (Chang Xinzheng [2025] No. 1) issued by thePeople's Government of Xinbei District, Changzhou City. Due to the need for public interest in the renovation ofthe old city area, the People's Government of Xinbei District, Changzhou City has decided to expropriate the houseswithin the scope of the Sanjing Street Company Foundry and surrounding plots of the old city renovation project(Phase I). The scope of expropriation is the company's original casting base, which has been transferred to itswholly-owned subsidiary Jiangsu Changchai Machinery Co., Ltd. in 2023 and is currently idle. It is expected tohave no significant impact on the company's production and operation. The specific compensation amount forexpropriation shall be subject to the officially signed expropriation compensation agreement. The company willclosely follow up on the progress of expropriation and promptly fulfill relevant review procedures and informationdisclosure obligations.
IV. Quarterly financial statements
1. Financial statements
(1) Consolidated Balance Sheet
Prepared by Changchai Company, Limited
31 March 2025
Unit: RMB
| Item | 31 March 2025 | 1 January 2025 |
| Current assets: | ||
| Monetary assets | 904,372,752.39 | 1,063,700,492.59 |
| Settlement reserve | ||
| Interbank loans granted | ||
| Held-for-trading financial assets | 452,186,981.77 | 303,667,459.65 |
| Derivative financial assets | ||
| Notes receivable | 317,487,893.93 | 318,814,017.13 |
| Accounts receivable | 1,050,201,157.01 | 444,254,240.02 |
| Accounts receivable financing | 119,118,440.25 | 223,261,002.76 |
| Prepayments | 15,810,601.22 | 12,725,958.70 |
| Premiums receivable | ||
| Reinsurance receivables | ||
| Receivable reinsurance contract reserve | ||
| Other receivables | 3,544,611.26 | 9,847,441.82 |
| Including: Interest receivable | ||
| Dividends receivable | 0.00 | 7,165,080.00 |
| Financial assets purchased under resale agreements | ||
| Inventories | 585,937,743.19 | 819,201,998.42 |
| Including: Data resources | ||
| Contract assets | ||
| Assets held for sale | ||
| Current portion of non-current assets | ||
| Other current assets | 21,819,188.44 | 54,605,021.67 |
| Total current assets | 3,470,479,369.46 | 3,250,077,632.76 |
| Non-current assets: | ||
| Loans and advances to customers | ||
| Investments in debt obligations | ||
| Investments in other debt obligations | ||
| Long-term receivables | ||
| Long-term equity investments | ||
| Investments in other equity instruments | 924,962,058.72 | 941,120,058.72 |
| Other non-current financial assets | 377,869,217.49 | 377,869,217.49 |
| Investment property | 37,216,666.16 | 37,740,844.55 |
| Fixed assets | 595,830,246.06 | 615,414,505.40 |
| Construction in progress | 4,013,873.92 | 3,376,866.69 |
| Productive living assets | ||
| Oil and gas assets | ||
| Right-of-use assets | ||
| Intangible assets | 141,310,178.88 | 142,805,785.86 |
| Including: Data resources | ||
| Development costs | ||
| Including: Data resources | ||
| Goodwill | ||
| Long-term prepaid expense | 2,696,741.64 | 2,664,557.06 |
| Deferred income tax assets | 8,322,070.73 | 6,458,337.99 |
| Other non-current assets | 4,373,097.30 | 4,373,097.30 |
| Total non-current assets | 2,096,594,150.90 | 2,131,823,271.06 |
| Total assets | 5,567,073,520.36 | 5,381,900,903.82 |
| Current liabilities: | ||
| Short-term borrowings | 163,670,551.71 | 94,471,787.41 |
| Borrowings from the central bank | ||
| Interbank loans obtained | ||
| Held-for-trading financial liabilities | ||
| Derivative financial liabilities | ||
| Notes payable | 590,808,897.15 | 491,643,629.88 |
| Accounts payable | 677,779,181.40 | 690,733,575.75 |
| Advances from customers | 30,187,811.09 | 30,183,376.84 |
| Contract liabilities | 22,787,974.03 | 31,640,879.59 |
| Financial assets sold under repurchase agreements | ||
| Customer deposits and interbank deposits | ||
| Payables for acting trading of securities | ||
| Payables for underwriting of securities | ||
| Employee benefits payable | 18,073,811.95 | 48,792,254.98 |
| Taxes payable | 26,788,401.75 | 4,214,324.70 |
| Other payables | 134,263,815.89 | 117,736,961.52 |
| Including: Interest payable | ||
| Dividends payable | 3,891,433.83 | 3,891,433.83 |
| Handling charges and commissions payable | ||
| Reinsurance payables | ||
| Liabilities directly associated with assets held for sale | ||
| Current portion of non-current liabilities |
| Other current liabilities | 181,760,880.51 | 175,064,677.93 |
| Total current liabilities | 1,846,121,325.48 | 1,684,481,468.60 |
| Non-current liabilities: | ||
| Insurance contract reserve | ||
| Long-term borrowings | ||
| Bonds payable | ||
| Including: Preferred shares | ||
| Perpetual bonds | ||
| Lease liabilities | ||
| Long-term payables | ||
| Long-term employee benefits payable | ||
| Provisions | 65,100,005.40 | 73,002,860.52 |
| Deferred income | 28,533,734.65 | 29,386,167.02 |
| Deferred income tax liabilities | 152,721,526.75 | 154,449,852.33 |
| Other non-current liabilities | ||
| Total non-current liabilities | 246,355,266.80 | 256,838,879.87 |
| Total liabilities | 2,092,476,592.28 | 1,941,320,348.47 |
| Shareholders’ equity: | ||
| Share capital | 705,692,507.00 | 705,692,507.00 |
| Other equity instruments | ||
| Including: Preferred shares | ||
| Perpetual bonds | ||
| Capital reserves | 640,509,675.84 | 640,509,675.84 |
| Less: Treasury stock | ||
| Other comprehensive income | 629,333,249.91 | 643,067,549.91 |
| Specific reserve | 23,279,599.50 | 21,959,066.35 |
| Surplus reserves | 367,826,665.27 | 367,826,665.27 |
| General reserve | ||
| Retained earnings | 1,027,348,636.90 | 983,627,999.95 |
| Total equity attributable to Shareholders of the Company as the parent | 3,393,990,334.42 | 3,362,683,464.32 |
| Non-controlling interests | 80,606,593.66 | 77,897,091.03 |
| Total shareholders’ equity | 3,474,596,928.08 | 3,440,580,555.35 |
| Total liabilities and shareholders’ equity | 5,567,073,520.36 | 5,381,900,903.82 |
Legal representative: Xie Guozhong General Manager: Xie GuozhongHead of the accounting department: Jiang He
(2) Consolidated Income Statement
Unit: RMB
| Item | Reporting Period | Same period of last year |
| 1. Revenue | 897,763,657.72 | 836,479,520.73 |
| Including: Operating revenue | 897,763,657.72 | 836,479,520.73 |
| Interest income | ||
| Insurance premium income | ||
| Handling charge and commission income | ||
| 2. Costs and expenses | 843,950,937.37 | 772,816,412.40 |
| Including: Cost of sales | 776,384,250.77 | 706,740,557.17 |
| Interest expense | ||
| Handling charge and commission expense | ||
| Surrenders | ||
| Net insurance claims paid | ||
| Net amount provided as insurance contract reserve | ||
| Expenditure on policy dividends | ||
| Reinsurance premium expense | ||
| Taxes and surcharges | 6,359,256.55 | 4,683,468.33 |
| Selling expense | 15,767,989.90 | 18,697,626.53 |
| Administrative expense | 27,220,091.42 | 26,053,081.45 |
| R&D expense | 20,441,762.68 | 20,281,737.94 |
| Finance costs | -2,222,413.95 | -3,640,059.02 |
| Including: Interest expense | 455,046.24 | 587,604.70 |
| Interest income | 2,727,723.37 | 3,080,070.64 |
| Add: Other income | 7,809,990.08 | 205,752.64 |
| Return on investment (“-” for loss) | 1,200,239.83 | 523,222.06 |
| Including: Share of profit or loss of joint ventures and associates | ||
| Income from the derecognition of financial assets at amortized cost (“-” for loss) | -80,062.50 | |
| Exchange gain (“-” for loss) | ||
| Net gain on exposure hedges (“-” for loss) | ||
| Gain on changes in fair value (“-” for loss) | 2,712,751.12 | -13,802,251.45 |
| Credit impairment loss (“-” for loss) | -13,424,884.92 | -11,899,204.76 |
| Asset impairment loss (“-” for loss) | -114,253.77 | -57,832.48 |
| Asset disposal income (“-” for loss) | 159,478.53 | 421,678.54 |
| 3. Operating profit (“-” for loss) | 52,156,041.22 | 39,054,472.88 |
| Add: Non-operating income | 19,310.77 | 370,474.42 |
| Less: Non-operating expense | 10,828.37 | 103,614.09 |
| 4. Profit before tax (“-” for loss) | 52,164,523.62 | 39,321,333.21 |
| Less: Income tax expense | 6,543,763.17 | 5,272,662.37 |
| 5. Net profit (“-” for net loss) | 45,620,760.45 | 34,048,670.84 |
| 5.1 By operating continuity | ||
| 5.1.1 Net profit from continuing operations (“-” for net loss) | ||
| 5.1.2 Net profit from discontinued operations (“-” for net loss) | ||
| 5.2 By shareholders’ equity | ||
| 5.2.1 Net profit attributable to shareholders of the Company as the parent | 43,720,636.95 | 32,382,777.70 |
| 5.2.2 Net profit attributable to non-controlling interests | 1,900,123.50 | 1,665,893.14 |
| 6. Other comprehensive income, net of tax | -13,734,300.00 | 24,066,900.00 |
| Attributable to shareholders of the Company as the parent | -13,734,300.00 | 24,066,900.00 |
| 6.1 Items that will not be reclassified to profit or loss | -13,734,300.00 | 24,066,900.00 |
| 6.1.1 Changes caused by remeasurements on defined benefit schemes | ||
| 6.1.2 Other comprehensive income that will not be reclassified to profit or loss under the equity method | ||
| 6.1.3 Changes in the fair value of investments in other equity instruments | -13,734,300.00 | 24,066,900.00 |
| 6.1.4 Changes in the fair value arising from changes in own credit risk | ||
| 6.1.5 Other | ||
| 6.2 Items that will be reclassified to profit or loss | ||
| 6.2.1 Other comprehensive income that will be reclassified to profit or loss under the equity method | ||
| 6.2.2 Changes in the fair value of investments in other debt obligations | ||
| 6.2.3 Other comprehensive income arising from the reclassification of financial assets | ||
| 6.2.4 Credit impairment allowance for investments in other debt obligations | ||
| 6.2.5 Reserve for cash flow hedges | ||
| 6.2.6 Differences arising from the translation of foreign currency-denominated financial statements | ||
| 6.2.7 Other | ||
| Attributable to non-controlling interests | ||
| 7. Total comprehensive income | 31,886,460.45 | 58,115,570.84 |
| Attributable to shareholders of the Company as the parent | 29,986,336.95 | 56,449,677.70 |
| Attributable to non-controlling interests | 1,900,123.50 | 1,665,893.14 |
| 8. Earnings per share | ||
| 8.1 Basic earnings per share | 0.0620 | 0.0459 |
| 8.2 Diluted earnings per share | 0.0620 | 0.0459 |
Legal representative: Xie Guozhong General Manager: Xie GuozhongHead of the accounting department: Jiang He
(3) Consolidated Cash Flow Statement
Unit: RMB
| Item | Reporting Period | Same period of last year |
| 1. Cash flows from operating activities: | ||
| Proceeds from sale of commodities and rendering of services | 427,572,047.13 | 456,415,221.66 |
| Net increase in customer deposits and interbank deposits | ||
| Net increase in borrowings from the central bank | ||
| Net increase in loans from other financial institutions | ||
| Premiums received on original insurance contracts | ||
| Net proceeds from reinsurance | ||
| Net increase in deposits and investments of policy holders | ||
| Interest, handling charges and commissions received | ||
| Net increase in interbank loans obtained | ||
| Net increase in proceeds from repurchase transactions | ||
| Net proceeds from acting trading of securities | ||
| Tax rebates | 28,359,296.44 | 6,692,216.64 |
| Cash generated from other operating activities | 5,897,742.08 | 6,180,466.59 |
| Subtotal of cash generated from operating activities | 461,829,085.65 | 469,287,904.89 |
| Payments for commodities and services | 334,259,771.58 | 340,923,732.36 |
| Net increase in loans and advances to customers | ||
| Net increase in deposits in the central bank and in interbank loans granted | ||
| Payments for claims on original insurance contracts | ||
| Net increase in interbank loans granted | ||
| Interest, handling charges and commissions paid | ||
| Policy dividends paid | ||
| Cash paid to and for employees | 97,237,586.48 | 91,776,376.54 |
| Taxes paid | 9,032,647.15 | 10,294,557.87 |
| Cash used in other operating activities | 36,068,276.41 | 43,171,034.90 |
| Subtotal of cash used in operating activities | 476,598,281.62 | 486,165,701.67 |
| Net cash generated from/used in operating activities | -14,769,195.97 | -16,877,796.78 |
| 2. Cash flows from investing activities: | ||
| Proceeds from disinvestment | 243,368,229.00 | 101,700,000.00 |
| Return on investment | 8,445,382.33 | 711,860.42 |
| Net proceeds from the disposal of fixed assets, intangible assets and other long-lived assets | 191,942.14 | 422,378.54 |
| Net proceeds from the disposal of subsidiaries and other business units | ||
| Cash generated from other investing activities | ||
| Subtotal of cash generated from investing activities | 252,005,553.47 | 102,834,238.96 |
| Payments for the acquisition of fixed assets, intangible assets | 1,194,438.13 | 8,657,126.75 |
| and other long-lived assets | ||
| Payments for investments | 389,175,000.00 | 282,044,324.00 |
| Net increase in pledged loans granted | ||
| Net payments for the acquisition of subsidiaries and other business units | ||
| Cash used in other investing activities | ||
| Subtotal of cash used in investing activities | 390,369,438.13 | 290,701,450.75 |
| Net cash generated from/used in investing activities | -138,363,884.66 | -187,867,211.79 |
| 3. Cash flows from financing activities: | ||
| Capital contributions received | ||
| Including: Capital contributions by non-controlling interests to subsidiaries | ||
| Borrowings raised | ||
| Cash generated from other financing activities | ||
| Subtotal of cash generated from financing activities | ||
| Repayment of borrowings | ||
| Interest and dividends paid | ||
| Including: Dividends paid by subsidiaries to non-controlling interests | ||
| Cash used in other financing activities | ||
| Subtotal of cash used in financing activities | ||
| Net cash generated from/used in financing activities | ||
| 4. Effect of foreign exchange rates changes on cash and cash equivalents | ||
| 5. Net increase in cash and cash equivalents | -153,133,080.63 | -204,745,008.57 |
| Add: Cash and cash equivalents, beginning of the period | 892,681,884.84 | 971,629,523.46 |
| 6. Cash and cash equivalents, end of the period | 739,548,804.21 | 766,884,514.89 |
Legal representative: Xie Guozhong General Manager: Xie GuozhongHead of the accounting department: Jiang He
2. Initial application of new accounting standards effective from 2025 and adjustments to the status ofrelevant items in the financial statements as of the beginning of the current year? Applicable ? Not Applicable
3. Audit Report
Has the first quarter report been audited? Yes ? NoThe company's first quarter report has not been audited.
The Board of Directors
Changchai Company, Limited
30 April 2025