江铃汽车(000550)_公司公告_江铃B：2025年半年度财务报告(英文版)_公司公告

JIANGLINGMOTORSCORPORATION,LTD.FINANCIALSTATEMENTSFORTHESIXMONTHSENDED30JUNE2025[Englishtranslationforreferenceonly.ShouldtherebeanyinconsistencybetweentheChineseandEnglishversions,theChineseversionshallprevail.]

JianglingMotorsCorporation,Ltd.[Englishtranslationforreferenceonly]Content

Content

Page

2025FirstHalf-yearfinancialstatements

2025FirstHalf-yearfinancialstatementsConsolidatedandcompanybalancesheets

Consolidatedandcompanybalancesheets

1-2

Consolidatedandcompanyincomestatements

Consolidatedandcompanycashflowstatements

Consolidatedstatementofchangesinshareholders’equity

Companystatementofchangesinshareholders’equity

Notestothefinancialstatements

7-117

SupplementaryInformation

1-2

JIANGLINGMOTORSCORPORATION,LTD.

CONSOLIDATEDANDCOMPANYBALANCESHEETSASAT30June2025

(AllamountsinRMBYuanunlessotherwisestated)

ASSETS

Notes

30June2025Consolidated*

31December2024Consolidated

30June2025Company*

31December2024Company

Currentassets

Currentassets
Cashandcashequivalents	5(1)	11,840,450,248	12,546,295,890	8,812,639,341	9,269,593,792
Derivativefinancialassets	5(2)	4,568,083	12,612,380	4,568,083	12,612,380
Notesreceivable	5(3)	570,313	226,865	1,000,570,313	1,500,226,865
Accountsreceivable	5(4)、14(1)	5,685,857,715	4,181,008,234	6,715,437,913	5,521,047,573
Financingreceivables	5(5)	310,302,211	302,065,502	22,005,635	18,070,384
Advancestosuppliers	5(6)	45,567,217	94,749,172	45,567,217	94,749,172
Otherreceivables	5(7)、14(2)	55,829,685	54,013,240	231,205,459	144,617,207
Inventories	5(8)	1,590,186,600	2,054,517,242	1,582,189,364	2,046,549,034
Currentportionofnon-currentassets	5(10)	16,089,107	20,784,738	9,271,197	15,161,497
Othercurrentassets	5(9)	1,214,078,126	1,228,372,977	782,122,256	777,406,955
Totalcurrentassets		20,763,499,305	20,494,646,240	19,205,576,778	19,400,034,859

Non-currentassets

Non-currentassets
Long-termreceivables	5(11)	17,387,215	18,533,908	-	1,584,891
Long-termequityinvestments	5(12)、14(3)	209,494,706	219,298,031	762,148,636	771,951,961
Fixedassets	5(13)	5,972,145,854	5,749,474,005	5,118,985,576	5,111,224,814
Constructioninprogress	5(14)	501,719,953	661,911,780	434,498,010	582,757,760
Right-of-useassets	5(15)	118,011,325	158,485,688	104,359,703	142,207,976
Intangibleassets	5(16)	1,753,990,312	1,811,454,853	1,537,017,915	1,596,623,962
Developmentexpenditures	5(17)	152,800,683	188,103,430	152,800,683	188,103,430
Goodwill	5(20)	-	-	-	-
Deferredtaxassets	5(18)	1,535,803,432	1,530,144,365	-	-
Othernon-currentassets	5(19)	6,386,526	7,860,340	6,386,526	7,860,340
Totalnon-currentassets		10,267,740,006	10,345,266,400	8,116,197,049	8,402,315,134

TOTALASSETS

TOTALASSETS		31,031,239,311	30,839,912,640	27,321,773,827	27,802,349,993
*Unauditedfinancialindexes

JIANGLINGMOTORSCORPORATION,LTD.

CONSOLIDATEDANDCOMPANYBALANCESHEETSASAT30June2025

(AllamountsinRMBYuanunlessotherwisestated)

LIABILITIESANDEQUITY

Notes

30June2025Consolidated*

31December2024Consolidated

30June2025Company*

31December2024Company

Currentliabilities

Currentliabilities
Short-termborrowings	5(21)	1,400,000,000	1,500,000,000	1,000,000,000	1,500,000,000
Accountspayable	5(22)	10,276,435,013	10,061,223,944	10,271,525,911	10,047,585,502
Contractliabilities	5(23)	635,547,682	467,704,291	272,153,347	536,871,795
Employeebenefitspayable	5(24)	638,813,703	780,174,574	557,704,024	672,858,988
Taxespayable	5(25)	127,849,617	265,198,389	117,562,476	256,969,632
Otherpayables	5(26)	5,899,601,355	5,739,064,167	2,507,594,559	2,130,094,497
Currentportionofnon-currentliabilities	5(27)	83,537,908	86,155,114	77,892,029	81,053,594
Othercurrentliabilities	5(28)	346,008,533	341,548,441	45,182,598	98,829,073
Totalcurrentliabilities		19,407,793,811	19,241,068,920	14,849,614,944	15,324,263,081

Non-currentliabilities

Non-currentliabilities
Long-termborrowings	5(29)	703,163	941,453	703,163	941,453
Leaseliabilities	5(30)	19,244,305	93,752,634	10,506,914	82,241,628
Provisions	5(31)	300,621,143	287,165,703	5,487,495	3,553,345
Deferredincome	5(32)	65,827,527	61,202,010	65,769,194	61,202,010
Long-termemployeebenefitspayable	5(33)	57,627,748	59,342,000	57,276,748	58,991,000
Deferredtaxliabilities	5(18)	220,032,344	130,301,876	201,632,325	111,616,233
Othernon-currentliabilities	5(34)	415,521,158	370,793,523	-	-
Totalnon-currentliabilities		1,079,577,388	1,003,499,199	341,375,839	318,545,669

Totalliabilities

20,487,371,199

20,244,568,119

15,190,990,783

15,642,808,750

Equity

Equity
Sharecapital	5(35)	863,214,000	863,214,000	863,214,000	863,214,000
Capitalsurplus	5(36)	839,442,490	839,442,490	839,442,490	839,442,490
Less:treasuryshares	5(37)	168,909,971	-	168,909,971	-
Othercomprehensiveincome	5(38)	(26,388,000)	(26,388,000)	(26,738,000)	(26,738,000)
Specialreserve		3,812,986	5,371,093	3,589,087	5,147,194
Surplusreserve	5(39)	431,607,000	431,607,000	431,607,000	431,607,000
Retainedearnings	5(40)	9,297,452,950	9,179,333,271	10,188,578,438	10,046,868,559
TotalequityattributabletoshareholdersoftheCompany		11,240,231,455	11,292,579,854	12,130,783,044	12,159,541,243
Minorityinterests		(696,363,343)	(697,235,333)	-	-
Totalequity		10,543,868,112	10,595,344,521	12,130,783,044	12,159,541,243

TOTALLIABILITIESANDEQUITY

31,031,239,311

30,839,912,640

27,321,773,827

27,802,349,993

*UnauditedfinancialindexesLegalrepresentative:QiuTiangao

CFO:JoeyZhu

FinanceDepartment:HuHanfeng

JIANGLINGMOTORSCORPORATION,LTD.

CONSOLIDATEDANDCOMPANYINCOMESTATEMENTSForsixmonthsended30June2025

(AllamountsinRMBYuanunlessotherwisestated)

Item

Notes

2025FirstHalf-yearConsolidated*

2024FirstHalf-yearConsolidated*

2025FirstHalf-yearCompany*

2024FirstHalf-yearCompany*

Revenue

Revenue		5(41)、14(4)	18,092,386,210	17,920,065,801	17,406,169,505	17,885,950,058
Less:	Costofsales	5(41)、14(4)	(15,539,656,822)	(15,489,880,688)	(15,239,926,676)	(15,176,367,555)
	Taxesandsurcharges	5(42)	(542,573,504)	(673,383,353)	(532,041,500)	(651,112,639)
	Sellinganddistributionexpenses	5(43)	(466,792,493)	(617,075,751)	(79,713,765)	(63,278,732)
	Generalandadministrativeexpenses	5(44)	(460,681,221)	(460,505,827)	(426,432,074)	(420,738,982)
	Researchanddevelopmentexpenses	5(45)	(652,925,801)	(617,237,727)	(652,925,801)	(617,237,727)
	Financialexpenses	5(46)	55,376,687	87,655,467	46,578,703	61,810,235
	Including:Interestexpenses		(8,006,883)	(13,395,131)	(3,904,430)	(13,169,162)
	Interestincome		74,461,188	116,562,375	61,200,769	90,256,996
Add:	Otherincome	5(49)	321,265,671	379,965,220	316,023,140	379,781,774
	Investmentincome	5(50)、14(5)	679,581	6,108,391	(594,717)	3,455,680
	Including:Shareoflossofassociatesandjointventures		(9,803,325)	(2,527,255)	(9,803,325)	(2,527,255)
	Gainsonchangesinfairvalue	5(51)	(7,003,758)	4,948,826	(7,182,998)	4,970,251
	Creditimpairmentlosses	5(48)	(2,295,627)	2,387,703	(2,973,269)	(184,716)
	Assetimpairmentlosses	5(47)	42,736	4,296,473	42,736	4,296,473
	Gainsondisposalofassets	5(52)	18,372,675	10,657,596	18,587,389	10,372,755

Operatingprofit

Operatingprofit			816,194,334	558,002,131	845,610,673	1,421,716,875
Add:	Non-operatingincome	5(53)	1,697,188	1,134,539	926,403	205,746
Less:	Non-operatingexpenses	5(54)	(206,747)	(5,221,095)	(202,738)	(2,565,347)

Totalprofit

Totalprofit			817,684,775	553,915,575	846,334,338	1,419,357,274
Less:	Incometaxexpenses	5(55)	(84,084,738)	56,969,254	(90,016,091)	(155,090,033)

Netprofit

Netprofit		733,600,037	610,884,829	756,318,247	1,264,267,241
	Classifiedbycontinuityofoperations
	Netprofitfromcontinuingoperations	733,600,037	610,884,829	756,318,247	1,264,267,241
	Netprofitfromdiscontinuedoperations	-	-	-	-

Classifiedbyownershipoftheequity

Classifiedbyownershipoftheequity
Minorityinterests	871,990	(284,595,288)	-	-
AttributabletoshareholdersoftheCompany	732,728,047	895,480,117	756,318,247	1,264,267,241

Othercomprehensiveincome,netoftax

Othercomprehensiveincome,netoftax			-	-	-	-
	AttributabletoshareholdersoftheCompany
	Othercomprehensiveincomeitemswhichwillnotbereclassifiedtoprofitorloss
	Changesarisingfromremeasurementofdefinedbenefitplan	5(38)	-	-	-	-
	Attributabletominorityinterests		-	-	-	-

Totalcomprehensiveincome

Totalcomprehensiveincome		733,600,037	610,884,829	756,318,247	1,264,267,241
	AttributabletoshareholdersoftheCompany	732,728,047	895,480,117	756,318,247	1,264,267,241
	Attributabletominorityinterests	871,990	(284,595,288)	-	-

Earningspershare

Earningspershare
	Basicearningspershare(RMBYuan)	5(56)	0.85	1.04	——	——
	Dilutedearningspershare(RMBYuan)	5(56)	0.85	1.04	——	——

*Unauditedfinancialindexes

Legalrepresentative:QiuTiangao

CFO:JoeyZhu

FinanceDepartment:HuHanfeng

JIANGLINGMOTORSCORPORATION,LTD.

CONSOLIDATEDANDCOMPANYCASHFLOWSTATEMENTSForsixmonthsended30June2025

(AllamountsinRMBYuanunlessotherwisestated)

Item

Item	Note	2025FirstHalf-year	2024FirstHalf-year	2025FirstHalf-year	2024FirstHalf-year
Item	Note	Consolidated*	Consolidated*	Company*	Company*
Cashflows(usedin)/generatedfromoperatingactivities
Cashreceivedfromsalesofgoodsorrenderingofservices		18,065,495,131	18,941,092,268	17,662,368,377	18,741,276,443
Refundsoftaxes		-	164,581,363	-	164,581,363
Cashreceivedrelatingtootheroperatingactivities	5(57)	284,304,086	118,884,525	245,989,854	95,504,577
Sub-totalofcashinflows		18,349,799,217	19,224,558,156	17,908,358,231	19,001,362,383
Cashpaidforgoodsandservices		(14,632,015,284)	(14,491,870,430)	(14,018,348,095)	(13,973,193,906)
Cashpaidtoandonbehalfofemployees		(1,489,737,422)	(1,478,169,089)	(1,380,952,099)	(1,350,502,965)
Paymentsoftaxesandsurcharges		(1,043,908,883)	(1,462,969,310)	(1,028,058,774)	(1,420,869,779)
Cashpaidrelatingtootheroperatingactivities	5(57)	(1,248,635,412)	(1,058,219,650)	(721,703,374)	(642,894,199)
Sub-totalofcashoutflows		(18,414,297,001)	(18,491,228,479)	(17,149,062,342)	(17,387,460,849)
Netcashflows(usedin)/generatedfromoperatingactivities	5(58)	(64,497,784)	733,329,677	759,295,889	1,613,901,534

Cashflowsusedininvestingactivities

Cashflowsusedininvestingactivities
Cashreceivedfromdisposalofinvestments		55,000,000	400,000,000	3,400,000	-
Cashreceivedfromreturnsoninvestments		264,648	6,789,112	-	4,136,400
Netcashreceivedfromdisposaloffixedassets,intangibleassetsandotherlong-termassets		39,374,129	9,005,122	37,584,825	7,544,579
Cashreceivedrelatingtootherinvestingactivities	5(57)	86,306,501	128,144,704	62,942,334	103,696,833
Sub-totalofcashinflows		180,945,278	543,938,938	103,927,159	115,377,812
Cashpaidtoacquirefixedassetsintangibleassetsandotherlong-termassets		(555,808,114)	(832,578,865)	(548,027,823)	(835,883,605)
Cashpaidtoacquireinvestments		(55,000,000)	(400,000,000)	(92,750,000)	-
Cashpaidrelatingtootherinvestingactivities		(202,957)	(116,333)	(202,957)	(116,333)
Sub-totalofcashoutflows		(611,011,071)	(1,232,695,198)	(640,980,780)	(835,999,938)
Netcashflowsusedininvestingactivities		(430,065,793)	(688,756,260)	(537,053,621)	(720,622,126)

Cashflowsusedinfinancingactivities

Cashflowsusedinfinancingactivities
Cashreceivedfromborrowings		2,933,325,556	995,542,778	2,448,764,444	995,542,778
Cashreceivedrelatingtootherfinancingactivities		-	661,625	-	-
Sub-totalofcashinflows		2,933,325,556	996,204,403	2,448,764,444	995,542,778
Cashrepaymentsofborrowings		(2,950,240,906)	(1,802,237,020)	(2,950,240,906)	(1,802,237,020)
Cashpaymentsfordistributionofdividends,profitsorinterestexpenses		(315,656)	(4,455,249)	(315,656)	(4,455,249)
Cashpaidrelatingtootherfinancingactivities	5(57)	(182,377,597)	(12,923,965)	(179,521,751)	(8,831,429)
Sub-totalofcashoutflows		(3,132,934,159)	(1,819,616,234)	(3,130,078,313)	(1,815,523,698)
Netcashflowsusedinfinancingactivities		(199,608,603)	(823,411,831)	(681,313,869)	(819,980,920)

Effectofforeignexchangeratechangeson

cashandcashequivalents

Effectofforeignexchangeratechangesoncashandcashequivalents

Net(decrease)/increaseincashandcashequivalents

Net(decrease)/increaseincashandcashequivalents	5(58)	(694,172,180)	(778,838,414)	(459,071,601)	73,298,488
Add:Cashandcashequivalentsatbeginningofyear	5(58)	12,475,176,009	11,746,518,615	9,214,091,023	8,648,791,242

Cashandcashequivalentsatendofperiod

5(58)

11,781,003,829

10,967,680,201

8,755,019,422

8,722,089,730

*UnauditedfinancialindexesLegalrepresentative:QiuTiangao

CFO:JoeyZhu

FinanceDepartment:HuHanfeng

*UnauditedfinancialindexesLegalrepresentative:QiuTiangao

CFO:JoeyZhu

FinanceDepartment:HuHanfeng

JIANGLINGMOTORSCORPORATION,LTD.

CONSOLIDATEDSTATEMENTOFCHANGESINEQUITYForsixmonthsended30June2025

(AllamountsinRMBYuanunlessotherwisestated)

Item

Item	Note		Attributabletoshareholdersoftheparentcompany						Minorityinterests	Totalequity
		Sharecapital	Capitalsurplus	Less:treasuryshares	Othercomprehensiveincome	Specialreserve	Surplusreserve	Retainedearnings

Balanceat1January2024

863,214,000

839,442,490

(20,572,000)

3,821,625

431,607,000

8,232,632,623

(365,273,118)

9,984,872,620

Movementsforsixmonthsended30June2024*

Movementsforsixmonthsended30June2024*		-	-	-	-	780,355	-	305,041,741	(284,595,288)	21,226,808
Totalcomprehensiveincome
Netprofit/(loss)		-	-	-	-	-	-	895,480,117	(284,595,288)	610,884,829
Othercomprehensiveincome		-	-	-	-	-	-	-	-	-
Totalcomprehensiveincomefortheperiod		-	-	-	-	-	-	895,480,117	(284,595,288)	610,884,829
Capitalcontributedbyownersandcapitaldecreases
Capitalinvestedbyshareholders		-	-	-	-	-	-	-	-	-
Profitdistribution
Distributiontoshareholders	5(40)	-	-	-	-	-	-	(590,438,376)	-	(590,438,376)
Specialreserves
Withdrawalthisperiod		-	-	-	-	12,307,442	-	-	-	12,307,442
Usedthisperiod		-	-	-	-	(11,527,087)	-	-	-	(11,527,087)

Balanceat30June2024*

863,214,000

839,442,490

(20,572,000)

4,601,980

431,607,000

8,537,674,364

(649,868,406)

10,006,099,428

Balanceat1January2025

863,214,000

839,442,490

(26,388,000)

5,371,093

431,607,000

9,179,333,271

(697,235,333)

10,595,344,521

Movementsforsixmonthsended30June2025*

Movementsforsixmonthsended30June2025*		-	-	168,909,971	-	(1,558,107)	-	118,119,679	871,990	(51,476,409)
Totalcomprehensiveincome
Netprofit		-	-	-	-	-	-	732,728,047	871,990	733,600,037
Othercomprehensiveincome		-	-	-	-	-	-	-	-	-
Totalcomprehensiveincomefortheperiod		-	-	-	-	-	-	732,728,047	871,990	733,600,037
Capitalcontributedbyownersandcapitaldecreases
Repurchaseofshares	5(37)	-	-	168,909,971	-	-	-	-	-	(168,909,971)
Profitdistribution
Distributiontoshareholders	5(40)	-	-	-	-	-	-	(614,608,368)	-	(614,608,368)
Specialreserve
Withdrawalthisperiod		-	-	-	-	10,109,653	-	-	-	10,109,653
Usedthisperiod		-	-	-	-	(11,667,760)	-	-	-	(11,667,760)

Balanceat30June2025*

863,214,000

839,442,490

168,909,971

(26,388,000)

3,812,986

431,607,000

9,297,452,950

(696,363,343)

10,543,868,112

JIANGLINGMOTORSCORPORATION,LTD.

COMPANYSTATEMENTOFCHANGESINEQUITYForsixmonthsended30June2025

(AllamountsinRMBYuanunlessotherwisestated)

Item

Item	Note	Sharecapital	Capitalsurplus	Less:treasuryshares	Othercomprehensiveincome	Specialreserve	Surplusreserve	Retainedearnings	Totalequity
Item	Note

Balanceat1January2024

863,214,000

839,442,490

(20,979,000)

3,821,625

431,607,000

8,577,966,162

10,695,072,277

Movementsforsixmonthsended30June2024*

Movementsforsixmonthsended30June2024*		-	-	-	-	780,355	-	673,828,865	674,609,220
Totalcomprehensiveincome
Netprofit		-	-	-	-	-	-	1,264,267,241	1,264,267,241
Othercomprehensiveincome		-	-	-	-	-	-	-	-
Totalcomprehensiveincomefortheperiod		-	-	-	-	-	-	1,264,267,241	1,264,267,241
Profitdistribution
Distributiontoshareholders	5(40)	-	-	-	-	-	-	(590,438,376)	(590,438,376)
Specialreserve
Withdrawalthisperiod		-	-	-	-	12,307,442	-	-	12,307,442
Usedthisperiod		-	-	-	-	(11,527,087)	-	-	(11,527,087)

Balanceat30June2024*

863,214,000

839,442,490

(20,979,000)

4,601,980

431,607,000

9,251,795,027

11,369,681,497

Balanceat1January2025

863,214,000

839,442,490

(26,738,000)

5,147,194

431,607,000

10,046,868,559

12,159,541,243

Movementsforsixmonthsended30June2025*

Movementsforsixmonthsended30June2025*		-	-	168,909,971	-	(1,558,107)	-	141,709,879	(28,758,199)
Totalcomprehensiveincome
Netprofit		-	-	-	-	-	-	756,318,247	756,318,247
Othercomprehensiveincome		-	-	-	-	-	-	-	-
Totalcomprehensiveincomefortheperiod		-	-	-	-	-	-	756,318,247	756,318,247
Capitalcontributedbyownersandcapitaldecreases
Repurchaseofshares	5(37)	-	-	168,909,971	-	-	-	-	(168,909,971)
Profitdistribution
Distributiontoshareholders	5(40)	-	-	-	-	-	-	(614,608,368)	(614,608,368)
Specialreserve
Withdrawalthisperiod		-	-	-	-	10,109,653	-	-	10,109,653
Usedthisperiod		-	-	-	-	(11,667,760)	-	-	(11,667,760)

Balanceat30June2025*

863,214,000

839,442,490

168,909,971

(26,738,000)

3,589,087

431,607,000

10,188,578,438

12,130,783,044

*Unauditedfinancialindexes

Legalrepresentative:QiuTiangao

*UnauditedfinancialindexesLegalrepresentative:QiuTiangao

CFO:JoeyZhu

FinanceDepartment:HuHanfeng

JIANGLINGMOTORSCORPORATION,LTD.NOTESTOTHEFINANCIALSTATEMENTSFORTHESIXMONTHSENDED30June2025

(AllamountsinRMBYuanunlessotherwisestated)[Englishtranslationforreferenceonly]

1	Generalinformation

JianglingMotorsCorporation,Ltd.(hereinafter“theCompany”)isaSino-foreignjointstockenterpriseestablishedundertheapprovalofHongban(1992)No.005ofNanchangRevolutionandAuthorisationGroupofCompany’sJointStockonthebasisofJiangxiMotorsManufacturingFactoryon16June1992.TheaddressofitsheadquartersisNanchangCity,JiangxiProvinceofthePeople’sRepublicofChina(“thePRC”).

On23July1993,withtheapprovaloftheChinaSecuritiesRegulatoryCommission(hereinafter“CSRC”)(ZhengJianFaShenZi[1993]No.22)and(ZhengJianHanZi[1993]No.86),theCompanywaslistedontheStockExchangeofShenzhenon1December1993,issuing494,000,000sharesintotal.On8April1994,atotalof25,214,000sharesweredistributedforthe1993dividenddistributionprogrammewiththeapprovaloftheshareholders’meetingandJiangxiSecuritiesManagementLeadingGroup(GanSecurities[1994]No.02).In1995,withtheapprovalofCSRC(ZhengJianFaZi[1995]No.144)andtheShenzhenSecuritiesManagementOffice(ShenZhengBanFu[1995]No.92),theCompanyissued174,000,000ordinaryshares(“Bshares”).In1998,withtheapprovalofCSRC(ZhengJianGuoZi[1998]No.19),theCompanyissuedadditional170,000,000Bshares.

Accordingtotheresolutionoftheshareholders’meetingregardingthesplitsharestructurereformon11January2006,theCompanyimplementedtheSchemeonSplitShareStructureReformon13February2006.Aftertheimplementation,theCompany’stotalpaid-incapitalremainsthesame.RelateddetailsaredisclosedinNote5(35).Asat30June2025,theCompany’spaid-incapitaltotalledRMB863,214,000,withparvalueofRMB1pershare.

Asat30June2025,theCompany’spaid-incapitaltotalledRMB863,214,000,withparvalueofRMB1pershare.

TheactualprincipalbusinessscopeoftheCompanyanditssubsidiaries(hereinafter“theGroup”)includesproductionandsalesofautomobileassembliessuchasautomobiles,special(modified)vehicles,enginesandchassisandotherautomobileparts,andprovisionofrelatedafter-salesservices;retailandwholesaleofimportedFORDEseriesautomobilesofFordMotor(China)Co.,Ltd.asthedealer;importandexportofautomobilesandparts;dealershipofusedcars;provisionofenterprisemanagementandconsultingservicesrelatedtoproductionandsalesofautomobiles.

ThesefinancialstatementswereauthorisedforissuebytheCompany'sBoardofDirectorson25August2025.

2	Basisofpreparationofthefinancialstatement

(1)

(1)	Basisofpreparation

ThefinancialstatementsarepreparedinaccordancewiththeAccountingStandardforBusinessEnterprises-BasicStandard,specificaccountingstandardsandrelevantregulationsandinsubsequentperiods(hereinaftercollectivelyreferredtoas“theAccountingStandardsforBusinessEnterprises”or“CASs”)andthedisclosurerequirementsinthePreparationConventionofInformationDisclosurebyCompaniesOfferingSecuritiestothePublicNo.15-GeneralRulesonFinancialReportingissuedbyCSRC.

(2)	Goingconcern

Thesefinancialstatementshavebeenpreparedonagoingconcernbasis.

3	Summaryofsignificantaccountingpoliciesandaccountingestimates

TheGroupdeterminesspecificaccountingpoliciesandestimatesbasedonthefeaturesofitsproductionandoperation,whichmainlycomprisethemeasurementofexpectedcreditlossesonreceivables,valuationofinventories,Inventorywrite-downprovision,depreciationoffixedassetsandamortisationofintangibleassetsandright-of-useassets,criteriaforcapitalisationofdevelopmentexpenditures,impairmentoflong-termassets,recognitionandmeasurementofrevenue,andgovernmentgrantsetc.

(1)	StatementofcompliancewiththeAccountingStandardsforBusinessEnterprises

ThefinancialstatementsoftheCompanyforsixmonthsended30June2025areincompliancewiththeAccountingStandardsforBusinessEnterprises,andtrulyandcompletelypresenttheconsolidatedandcompany’sfinancialpositionoftheCompanyasat30June2025andtheirfinancialperformance,cashflowsandotherinformationfortheperiodthenended.

(2)	Accountingyear

TheGroup'saccountingyearisacalendaryear,i.e.from1Januaryto31Decembereachyear.

TheGroup'saccountingyearisacalendaryear,i.e.from1Januaryto31Decembereachyear.(3)

(3)	Functionalcurrency

ThebasecurrencyoftheCompanyanditssubsidiariesandthecurrencyusedinthepreparationofthesefinancialstatementsareRMB.Unlessotherwisespecified,theyareexpressedinRMB.

ThebasecurrencyoftheCompanyanditssubsidiariesandthecurrencyusedinthepreparationofthesefinancialstatementsareRMB.Unlessotherwisespecified,theyareexpressedinRMB.(4)

(4)	Thedeterminationmethodandselectionbasisofthematerialstandardfollowedbyfinancialstatementdisclosure

?Significantrecoveryorreversalofallowancefordoubtfulaccountsreceivable

?Significantrecoveryorreversalofallowancefordoubtfulaccountsreceivable		Theamountofasinglerecoveryorreversalexceeds1%ofthetotalamountofvariousreceivablesandisgreaterthanRMB15million.
Significantprepaymentswithanagingofover1year		Theamountofasingleprepaymentexceeds10%ofthetotalamountofvariousprepaymentsandisgreaterthanRMB15million.
Significantconstructioninprogress		ThebudgetofasingleprojectexceedsRMB50million.
Significantnon-whollyownedsubsidiaries		Thenetassetsofthesubsidiaryaccountformorethan5%ofthegroup’snetassets,oritsnetprofitimpactreaches10%ormoreofthegroup’sconsolidatednetprofit.
Significantassociatedcompanies		Thecarryingvalueoflong-termequityinvestmentinasingleinvesteeexceeds5%ofthegroup’snetassetsorisgreaterthanRMB100million,ortheinvestmentincome/lossundertheequitymethodaccountsfor10%ormoreofthegroup’sconsolidatednetprofit.

JIANGLINGMOTORSCORPORATION,LTD.NOTESTOTHEFINANCIALSTATEMENTSFORTHESIXMONTHSENDED30June2025

(AllamountsinRMBYuanunlessotherwisestated)[Englishtranslationforreferenceonly]

3	Summaryofsignificantaccountingpoliciesandaccountingestimates(Cont’d)

(5)

(5)	Preparationofconsolidatedfinancialstatements

Thescopeofconsolidationoftheconsolidatedfinancialstatementsisdeterminedonacontrolbasis,includingthefinancialstatementsoftheCompanyandallofitssubsidiaries."Subsidiary"referstotheentitycontrolledbytheCompany(includingthedivisiblepartoftheenterpriseandtheinvestee,aswellasthestructuredentitycontrolledbytheCompany,etc.).Aninvestorcancontrolaninvesteeifandonlyiftheinvestorhasthefollowingthreeelements:theinvestorhasauthorityovertheinvestee;Variablereturnsforparticipationintheinvestee'srelatedactivities;Abilitytousepowerovertheinvesteetoinfluencetheamountofitsreturn.

IftheaccountingpoliciesoraccountingperiodsadoptedbythesubsidiaryareinconsistentwiththoseadoptedbytheCompany,thefinancialstatementsofthesubsidiaryshallbeadjustedasnecessaryinaccordancewiththeaccountingpoliciesandaccountingperiodsoftheCompanywhenpreparingtheconsolidatedfinancialstatements.Theassets,liabilities,equity,revenues,expensesandcashflowsarisingfromalltransactionsbetweencompanieswithintheGrouparefullyoffsetatthetimeoftheconsolidation.Ifthecurrentlosssharedbytheminorityshareholdersofthesubsidiaryexceedstheshareoftheminorityshareholdersintheshareholders'equityatthebeginningoftheperiod,thebalanceshallstillbeoffsetagainsttheminorityshareholders'equity.

Ifthecurrentlosssharedbytheminorityshareholdersofthesubsidiaryexceedstheshareoftheminorityshareholdersintheshareholders'equityatthebeginningoftheperiod,thebalanceshallstillbeoffsetagainsttheminorityshareholders'equity.

Forsubsidiariesacquiredthroughabusinesscombinationnotundercommoncontrol,theoperatingresultsandcashflowsoftheacquireeareincludedintheconsolidatedfinancialstatementsfromthedateonwhichtheGroupacquirescontroluntiltheterminationoftheGroup'scontroloverthem.Inpreparingtheconsolidatedfinancialstatements,thefinancialstatementsofsubsidiariesareadjustedonthebasisofthefairvalueoftheidentifiableassets,liabilitiesandcontingentliabilitiesdeterminedatthedateofacquisition.

Forsubsidiariesacquiredthroughabusinesscombinationunderthesamecontrol,theoperatingresultsandcashflowsoftheconsolidatedpartyareincludedintheconsolidatedfinancialstatementsfromthebeginningofthecurrentperiodofconsolidation.Whencompilingthecomparativeconsolidatedfinancialstatements,therelevantitemsofthepreviousfinancialstatementsareadjustedtobedeemedtohaveexistedsincetheultimatecontrollerbegantoexercisecontrol.

Ifchangesinrelevantfactsandcircumstancesresultinachangeinoneormoreofthecontrolelements,theGroupwillreassesswhethertocontroltheinvestee.Withoutlossofcontrol,achangeinminorityshareholders'interestsistreatedasanequitytransaction.

JIANGLINGMOTORSCORPORATION,LTD.NOTESTOTHEFINANCIALSTATEMENTSFORTHESIXMONTHSENDED30June2025

(AllamountsinRMBYuanunlessotherwisestated)[Englishtranslationforreferenceonly]

3	Summaryofsignificantaccountingpoliciesandaccountingestimates(Cont’d)

(6)

(6)	Cashandcashequivalents

CashcomprisestheGroup’scashonhandanddepositsthatcanbereadilywithdrawnondemand.Cashequivalentsareshort-term,highlyliquidinvestmentsthatarereadilyconvertibleintoknownamountsofcash,subjecttoaninsignificantriskofchangesinvalue.

(7)	Foreigncurrencytranslation

TheGrouptranslatesforeigncurrencytransactionsintoitsfunctionalcurrency.

Atthetimeofinitialrecognitionofaforeigncurrencytransaction,theamountintheforeigncurrencyisconvertedintothebasecurrencyofaccountusingthespotexchangerateonthedateofthetransaction,butthecapitalinvestedbytheinvestorintheforeigncurrencyisconvertedatthespotexchangerateonthedateofthetransaction.Atthebalancesheetdate,thespotexchangerateatthebalancesheetdateisusedforforeigncurrencymonetaryitems.Theresultingdifferencesinsettlementandtranslationofmonetaryitemsshallbeincludedinprofitorlossforthecurrentperiod,exceptforthedifferencesarisingfromspecialforeigncurrencyborrowingsrelatedtotheacquisitionandconstructionofassetseligibleforcapitalization,whichshallbetreatedinaccordancewiththeprincipleofcapitalizationofborrowingcosts.Foreigncurrencynon-monetaryitemsmeasuredathistoricalcostarestilltranslatedusingtheexchangerateusedatthetimeofinitialrecognition,andtheamountinthebasecurrencyofaccountingremainsunchanged.Foreigncurrencynon-monetaryitemsmeasuredatfairvaluearetranslatedatthespotexchangerateonthedateoffairvaluedetermination,andtheresultingdifferenceisrecognizedinprofitorlossorothercomprehensiveincomeforthecurrentperiodaccordingtothenatureofthenon-monetaryitems.

Cashflowsinforeigncurrenciesaretranslatedusingthespotexchangerateonthedateofthecashflows.Theeffectofexchangeratechangesoncashispresentedseparatelyinthestatementofcashflowsasareconciliationitem.(8)

(8)	Financialinstruments

Afinancialinstrumentisanycontractthatgivesrisetoafinancialassetofoneentityandafinancialliabilityorequityinstrumentofanotherentity.AfinancialassetorafinancialliabilityisrecognisedwhentheGroupbecomesapartytothecontractualprovisionsoftheinstrument.

JIANGLINGMOTORSCORPORATION,LTD.NOTESTOTHEFINANCIALSTATEMENTSFORTHESIXMONTHSENDED30June2025

(AllamountsinRMBYuanunlessotherwisestated)[Englishtranslationforreferenceonly]

3	Summaryofsignificantaccountingpoliciesandaccountingestimates(Cont’d)

(8)

(8)	Financialinstruments(Cont’d)

(a)

(a)	Recognitionandderecognitionoffinancialinstruments

TheGrouprecognisesafinancialassetorfinancialliabilitywhenitbecomesapartytoacontractforafinancialinstrument.

TheGrouprecognisesafinancialassetorfinancialliabilitywhenitbecomesapartytoacontractforafinancialinstrument.Ifthefollowingconditionsaremet,thefinancialassets(orpartofthefinancialassets,orpartofagroupofsimilarfinancialassets)shallbederecognized,thatis,thepreviouslyrecognizedfinancialassetsshallbetransferredoutofthebalancesheet:

Ifthefollowingconditionsaremet,thefinancialassets(orpartofthefinancialassets,orpartofagroupofsimilarfinancialassets)shallbederecognized,thatis,thepreviouslyrecognizedfinancialassetsshallbetransferredoutofthebalancesheet:

(1)Expirationoftherighttoreceivecashflowsfromfinancialassets;

(2)transferredtherighttoreceivecashflowsfromfinancialassetsorassumedanobligationundera"transferagreement"topromptlypaythecashflowsreceivedinfulltoathirdparty;andsubstantiallytransferssubstantiallyalloftherisksandrewardsofownershipofafinancialasset,or,whilesubstantiallyneithertransferringnorretainingsubstantiallyalloftherisksandrewardsofownershipofafinancialasset,butrelinquishescontrolofthatfinancialasset.

(1)Expirationoftherighttoreceivecashflowsfromfinancialassets;

Iftheobligationforthefinancialliabilityhasbeenfulfilled,cancelledorexpired,thefinancialliabilityisderecognized.Ifanexistingfinancialliabilityisreplacedbyanotherfinancialliabilitybythesamecreditorwithsubstantiallyalmostentirelydifferentterms,orthetermsoftheexistingliabilityaresubstantiallyallmodified,suchreplacementormodificationistreatedasaderecognitionoftheoriginalliabilityandrecognitionofanewliability,thedifferenceinprofitorlossforthecurrentperiod.

Thepurchaseandsaleoffinancialassetsintheconventionalwayisrecognizedandderecognizedaccordingtotheaccountingofthetransactiondate.Thepurchaseorsaleoffinancialassetsinaconventionalmannermeansthepurchaseorsaleoffinancialassetsinaccordancewithacontractthatprovidesforthedeliveryoffinancialassetsinaccordancewithaschedulenormallydeterminedbyregulationsormarketpractice.AtradingdayisthedateonwhichtheGroupcommitstobuyorsellafinancialasset.

(b)	Classificationandmeasurementoffinancialassets

Atthetimeofinitialrecognition,theGroup'sfinancialassetsareclassifiedaccordingtotheGroup'sbusinessmodelofmanagingfinancialassetsandthecontractualcashflowcharacteristicsoffinancialassets:financialassetsmeasuredatamortizedcost,investmentsindebtinstrumentsmeasuredatfairvaluethroughothercomprehensiveincome,andfinancialassetsmeasuredatfairvaluethroughprofitorloss.AllaffectedunderlyingfinancialassetswillbereclassifiedifandonlywhentheGroupchangesitsbusinessmodelformanagingfinancialassets.Financialassetsaremeasuredatfairvalueatthetimeofinitialrecognition,butiftheaccountsreceivableornotesreceivablearisingfromthesaleofgoodsortheprovisionofservices,etc.,donotcontainamaterialfinancingcomponentordonotconsiderthefinancingcomponentofnomorethanoneyear,theinitialmeasurementshallbecarriedoutaccordingtothetransactionprice.

Financialassetsaremeasuredatfairvalueatthetimeofinitialrecognition,butiftheaccountsreceivableornotesreceivablearisingfromthesaleofgoodsortheprovisionofservices,etc.,donotcontainamaterialfinancingcomponentordonotconsiderthefinancingcomponentofnomorethanoneyear,theinitialmeasurementshallbecarriedoutaccordingtothetransactionprice.Forfinancialassetsmeasuredatfairvaluethroughprofitorloss,therelevanttransactioncostsaredirectlyrecognizedinthecurrentprofitorloss,andthetransactioncostsrelatedtoothertypesoffinancialassetsareincludedintheinitialrecognitionamount.

3	Summaryofsignificantaccountingpoliciesandaccountingestimates(Cont’d)

(8)

(8)	Financialinstruments(Cont’d)

(b)

(b)	Classificationandmeasurementoffinancialassets(Cont’d)

Thesubsequentmeasurementofafinancialassetdependsonitsclassification:

InvestmentsindebtinstrumentsmeasuredatamortizedcostIfafinancialassetmeetsthefollowingconditionsatthesametime,itisclassifiedasafinancialassetmeasuredatamortizedcost:thebusinessmodelformanagingthefinancialassetistocollectcontractualcashflowsasthegoal;Thecontractualtermsofthefinancialassetprovidethatthecashflowsgeneratedonaspecificdateareonlypaymentsofprincipalandinterestbasedontheamountofprincipalnotpaid.Interestincomeisrecognizedusingtheeffectiveinterestratemethodforsuchfinancialassets,andthegainsorlossesarisingfromtheirderecognition,modificationorimpairmentareincludedinprofitorlossforthecurrentperiod.

InvestmentsindebtinstrumentsatfairvaluethroughothercomprehensiveincomeAfinancialassetisclassifiedasafinancialassetmeasuredatfairvaluethroughothercomprehensiveincomeifitmeetsthefollowingconditions:theGroup'sbusinessmodelformanagingthefinancialassetistocollectbothcontractualcashflowsandsellfinancialassets;Thecontractualtermsofthefinancialassetprovidethatthecashflowsgeneratedonaspecificdateareonlypaymentsofprincipalandinterestbasedontheamountofprincipalnotpaid.Interestincomeisrecognizedforsuchfinancialassetsusingtheeffectiveinterestratemethod.Exceptforinterestincome,impairmentlossesandforeignexchangedifferences,whicharerecognizedasgainsorlossesforthecurrentperiod,theremainingfairvaluechangesarerecognizedasothercomprehensiveincome.Whenafinancialassetisderecognized,theaccumulatedgainsorlossespreviouslyincludedinothercomprehensiveincomearetransferredoutofothercomprehensiveincomeandincludedinprofitorlossforthecurrentperiod.

FinancialassetsatfairvaluethroughprofitorlossTheabove-mentionedfinancialassetsmeasuredatamortizedcostandfinancialassetsotherthanthosemeasuredatfairvaluethroughothercomprehensiveincomeareclassifiedasfinancialassetsmeasuredatfairvaluethroughprofitorloss.Forsuchfinancialassets,fairvalueisusedforsubsequentmeasurement,andallchangesinfairvaluearerecognizedinprofitorlossforthecurrentperiod.

(c)	Classificationandmeasurementoffinancialliabilities

Atthetimeofinitialrecognition,theGroup'sfinancialliabilitiesareclassifiedasfollows:

financialliabilitiesatfairvaluethroughprofitorloss,andfinancialliabilitiesatamortizedcost.Forfinancialliabilitiesmeasuredatfairvaluethroughprofitorloss,therelevanttransactionexpensesaredirectlyrecognizedinthecurrentprofitorloss,andtherelevanttransactioncostsofthefinancialliabilitiesmeasuredatamortizedcostareincludedintheirinitialrecognitionamount.

Atthetimeofinitialrecognition,theGroup'sfinancialliabilitiesareclassifiedasfollows:

3	Summaryofsignificantaccountingpoliciesandaccountingestimates(Cont’d)

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(8)	Financialinstruments(Cont’d)

(c)

(c)	Classificationandmeasurementoffinancialliabilities(Cont’d)

FinancialliabilitiesatfairvaluethroughprofitorlossFinancialliabilitiesmeasuredatfairvaluethroughprofitorloss,includingtradingfinancialliabilities(includingderivativesthatarefinancialliabilities)andfinancialliabilitiesdesignatedatfairvaluethroughprofitorlossatthetimeofinitialrecognition.Tradingfinancialliabilities(includingderivativesthatarefinancialliabilities)aresubsequentlymeasuredatfairvalue,andallchangesinfairvaluearerecognizedinprofitorlossforthecurrentperiod,exceptinrelationtohedgeaccounting.Forfinancialliabilitiesdesignatedasmeasuredatfairvaluethroughprofitorloss,subsequentmeasurementiscarriedoutatfairvalue,andotherfairvaluechangesareincludedinprofitorlossforthecurrentperiod,exceptforthefairvaluechangescausedbychangesintheGroup'sowncreditrisk,whichareincludedinothercomprehensiveincome.IftheinclusionofchangesinfairvaluecausedbychangesintheGroup'sowncreditriskintoothercomprehensiveincomewouldcauseormagnifytheaccountingmismatchinprofitorloss,theGroupwillincludeallchangesinfairvalue(includingtheamountaffectedbychangesinitsowncreditrisk)inprofitorlossforthecurrentperiod.

FinancialliabilitiesmeasuredatamortizedcostForsuchfinancialliabilities,theeffectiveinterestratemethodisused,andthesubsequentmeasurementiscarriedoutaccordingtotheamortizedcost.(d)

(d)	Impairmentoffinancialinstruments
	Methodsfordeterminingexpectedcreditlossesandaccountingtreatmentmethods

TheGroupconductsimpairmenttreatmentandrecognizeslossprovisionsforfinancialassetsmeasuredatamortizedcost,debtinstrumentinvestmentsmeasuredatfairvaluewithchangesrecognizedinothercomprehensiveincome,andleasereceivablesbasedonexpectedcreditlosses.Forreceivablesthatdonotcontainsignificantfinancingcomponents,theGroupappliesasimplifiedmeasurementmethodtomeasurethelossprovisionbasedontheexpectedcreditlossamountequivalenttotheentiredurationofthereceivable.

Forreceivablesthatdonotcontainsignificantfinancingcomponents,theGroupappliesasimplifiedmeasurementmethodtomeasurethelossprovisionbasedontheexpectedcreditlossamountequivalenttotheentiredurationofthereceivable.Forleasereceivablesandreceivablesthatcontainsignificantfinancingcomponents,theGrouphaschosentoapplyasimplifiedmeasurementapproach,measuringthelossprovisionbasedontheexpectedcreditlossamountequivalenttotheentiredurationofthereceivable.

Forleasereceivablesandreceivablesthatcontainsignificantfinancingcomponents,theGrouphaschosentoapplyasimplifiedmeasurementapproach,measuringthelossprovisionbasedontheexpectedcreditlossamountequivalenttotheentiredurationofthereceivable.

Apartfromtheaforementionedsimplifiedmeasurementmethodsforfinancialassets,theGroupassessesateachreportingdatewhetherthecreditriskhassignificantlyincreasedsinceinitialrecognition.Ifthecreditriskhasnotsignificantlyincreasedsinceinitialrecognition,itisclassifiedasStage1,andtheGroupmeasuresthelossallowanceatanamountequaltotheexpectedcreditlossesoverthenext12months,calculatinginterestincomebasedonthecarryingamountandtheeffectiveinterestrate.Ifthecreditriskhassignificantlyincreasedsinceinitialrecognitionbutnocreditimpairmenthasoccurred,itisclassifiedasStage2,andtheGroupmeasuresthelossallowanceatanamountequaltotheexpectedcreditlossesovertheentirelifetime,calculatinginterestincomebasedonthecarryingamountandtheeffectiveinterestrate.Ifcreditimpairmentoccursafterinitialrecognition,itisclassifiedasStage3,andtheGroupmeasuresthelossallowanceatanamountequaltotheexpectedcreditlossesovertheentirelifetime,calculatinginterestincomebasedonamortizedcostandtheeffectiveinterestrate.Forfinancialinstrumentsthathaveonlylowcreditriskatthereportingdate,theGroupassumesthatthecreditriskhasnotsignificantlyincreasedsinceinitialrecognition.

JIANGLINGMOTORSCORPORATION,LTD.NOTESTOTHEFINANCIALSTATEMENTSFORTHESIXMONTHSENDED30June2025

(AllamountsinRMBYuanunlessotherwisestated)[Englishtranslationforreferenceonly]

(8)

(8)(d)

(d)Summaryofsignificantaccountingpoliciesandaccountingestimates(Cont’d)

Summaryofsignificantaccountingpoliciesandaccountingestimates(Cont’d)Financialinstruments(Cont’d)

Financialinstruments(Cont’d)Impairmentoffinancialinstruments(Cont’d)

Impairmentoffinancialinstruments(Cont’d)

TheGroup'smethodologyformeasuringexpectedcreditlossesonfinancialinstrumentsreflectsfactorssuchastheweightedaverageamountofunbiasedprobabilitiesdeterminedbyevaluatingarangeofpossibleoutcomes,thetimevalueofmoney,andreasonableandevidence-basedinformationonpastevents,currentconditionsandprojectionsoffutureeconomicconditionsthatareavailableatthebalancesheetdatewithoutunnecessaryadditionalcostoreffort.

Thecreditriskcharacteristicsofvarioustypesoffinancialassetsforwhichtheexpectedcreditlossesarecalculatedseparatelyaresignificantlydifferentfromthoseofotherfinancialassetsinthiscategory.Whentheinformationofexpectedcreditlossescannotbeassessedatareasonablecostforasinglefinancialasset,theGroupdividesthereceivablesintoseveralportfoliosbasedonthecreditriskcharacteristics,calculatestheexpectedcreditlossesonthebasisoftheportfolio,anddeterminesthebasisandaccrualmethodoftheportfolioasfollows:

Banker'sAcceptancePortfolio

Banker'sAcceptancePortfolio	State-ownedbanksandjoint-stockbanks
CommercialAcceptanceBillPortfolio	Customerswhopurchaseusingcommercialacceptancebills
Thedomesticgeneralvehiclesalesmix	Fordomesticgeneralautomobileprocurementcustomers,theoverduedateisusedasthestartingpointofoverdueaging
Exportgeneralvehiclesalesmix	Forexportgeneralautomobileprocurementcustomers,theoverduedateisusedasthestartingpointofoverdueaging
Newenergyvehiclesalesmix	Fornewenergyvehicleprocurementcustomers,theoverduedateisusedasthestartingpointofoverdueaging
Componentsalesmix	Forpartsprocurementcustomers,theoverduedateisusedasthestartingpointofoverdueaging
Otherreceivablescombinations	Otherreceivablesofthesamenature

(e)

(e)	FinancialInstrumentOffset

Ifthefollowingconditionsaremetatthesametime,thefinancialassetsandfinancialliabilitiesarepresentedinthebalancesheetasnetamountsafteroffsettingeachother:theyhavethelegalrighttooffsettherecognizedamount,andsuchlegalrightiscurrentlyenforceable;Theplanistosettleonanetbasis,oratthesametimetorealisethefinancialassetandsettlethefinancialliability.WhentheGroupnolongerreasonablyexpectstobeabletorecoverallorpartofthecontractualcashflowsoffinancialassets,theGroupdirectlywritesdownthecarryingbalanceofsuchfinancialassets.

JIANGLINGMOTORSCORPORATION,LTD.NOTESTOTHEFINANCIALSTATEMENTSFORTHESIXMONTHSENDED30June2025

(AllamountsinRMBYuanunlessotherwisestated)[Englishtranslationforreferenceonly]

3	Summaryofsignificantaccountingpoliciesandaccountingestimates(Cont’d)

(8)

(8)	Financialinstruments(Cont’d)

(f)

(f)	Derivativefinancialinstruments

TheGroupusesderivativefinancialinstruments.Derivativefinancialinstrumentsareinitiallymeasuredatthefairvalueonthedateofthesigningofthederivativetransactioncontract,andsubsequentlymeasuredattheirfairvalue.Aderivativefinancialinstrumentwithapositivefairvalueisrecognizedasanasset,andanegativefairvalueisrecognizedasaliability.Exceptinrelationtohedgeaccounting,gainsorlossesarisingfromchangesinthefairvalueofderivativesaredirectlyrecognizedinprofitorlossforthecurrentperiod.

Exceptinrelationtohedgeaccounting,gainsorlossesarisingfromchangesinthefairvalueofderivativesaredirectlyrecognizedinprofitorlossforthecurrentperiod.(g)

(g)	Transferoffinancialassets

IftheGrouphastransferredalmostalloftherisksandrewardsintheownershipoffinancialassetstothetransferee,therecognitionofsuchfinancialassetsshallbeterminated;Wherealmostalloftherisksandrewardsintheownershipoffinancialassetsareretained,therecognitionofthefinancialassetsshallnotbeterminated.

IftheGroupneithertransfersnorretainsalmostalloftherisksandrewardsintheownershipofthefinancialassets,itshallbedealtwithinthefollowingcases:ifithasrelinquishedcontrolofthefinancialassets,thefinancialassetsshallbeterminatedandtheassetsandliabilitiesarisingtherefromshallberecognized;Ifthefinancialassetisnotrelinquished,therelevantfinancialassetshallberecognizedaccordingtotheextenttowhichitcontinuestobeinvolvedinthetransferredfinancialasset,andtherelevantliabilitiesshallberecognizedaccordingly.

(9)

Inventories

Inventoryincludesrawmaterials,work-in-progress,finishedproducts,low-valueconsumables,materialsintransitandconsignmentmaterials.

Inventoryincludesrawmaterials,work-in-progress,finishedproducts,low-valueconsumables,materialsintransitandconsignmentmaterials.Inventoryisinitiallymeasuredatcost.Inventorycostsincludeprocurementcosts,processingcosts,andothercosts.Inventoriesareissued,andtheiractualcostisdeterminedusingtheweightedaveragemethod.Low-valueconsumablesareamortizedusingtheone-timeresalemethod.

Inventoryisinitiallymeasuredatcost.Inventorycostsincludeprocurementcosts,processingcosts,andothercosts.Inventoriesareissued,andtheiractualcostisdeterminedusingtheweightedaveragemethod.Low-valueconsumablesareamortizedusingtheone-timeresalemethod.Theinventorysystemadoptsaperpetualinventorysystem.

Theinventorysystemadoptsaperpetualinventorysystem.

Atthebalancesheetdate,inventoriesaremeasuredatthelowerofcostandnetrealizablevalue,andifthecostishigherthanthenetrealizablevalue,aprovisionforinventorydeclineismadeandincludedinprofitorlossforthecurrentperiod.Netrealizablevalueistheestimatedsellingpriceofinventoryintheordinarycourseofbusiness,lesstheestimatedcoststobeincurredatcompletion,estimatedsellingexpenses,andrelatedtaxes.Inventoriesrelatedtoproductlinesmanufacturedandsoldinthesameregion,withthesameorsimilarenduseorpurpose,anddifficulttomeasureseparatelyfromotheritems,areprovidedforinventorydeclineonaconsolidatedbasis.

3	Summaryofsignificantaccountingpoliciesandaccountingestimates(Cont’d)

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(10)	Long-termequityinvestments

Long-termequityinvestmentscomprisetheCompany’slong-termequityinvestmentsinitssubsidiaries,andtheGroup’slong-termequityinvestmentsinitsassociates.

Long-termequityinvestmentsareinitiallymeasuredattheinitialinvestmentcostatthetimeofacquisition.Foralong-termequityinvestmentobtainedthroughabusinesscombinationunderthesamecontrol,theinitialinvestmentcostshallbetheshareofthecarryingamountoftheowner'sequityofthemergedpartyintheconsolidatedfinancialstatementsoftheultimatecontrollingpartyonthedateofconsolidation;Thedifferencebetweentheinitialinvestmentcostandthecarryingamountoftheconsolidationconsiderationshallbeadjustedtothecapitalreserve(ifitisinsufficienttooffsettheretainedearnings).Forlong-termequityinvestmentsobtainedthroughabusinesscombinationnotundercommoncontrol,theinitialinvestmentcostshallbethecostofthemerger(ifthebusinesscombinationofenterprisesnotunderthesamecontrolisrealizedstepbystepthroughmultipletransactions,thesumofthecarryingamountoftheequityinvestmentoftheacquireeheldbeforethepurchasedateandthecostofthenewinvestmentonthepurchasedateshallbetheinitialinvestmentcost).Forlong-termequityinvestmentsobtainedbymeansotherthanthoseformedbybusinesscombinations,theinitialinvestmentcostsshallbedeterminedinaccordancewiththefollowingmethods:iftheyareobtainedbypayingcash,theinitialinvestmentcostsshallbethepurchasepriceactuallypaidandtheexpenses,taxesandothernecessaryexpensesdirectlyrelatedtotheacquisitionofthelong-termequityinvestment;Iftheissuanceofequitysecuritiesisobtained,thefairvalueoftheequitysecuritiesissuedshallbeusedastheinitialinvestmentcost.

3	Summaryofsignificantaccountingpoliciesandaccountingestimates(Cont’d)

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(10)	Long-termequityinvestments(Cont’d)

Whenthecostmethodisused,long-termequityinvestmentsarevaluedattheinitialinvestmentcost.Iftheinvestmentisincreasedorrecovered,thecostoflong-termequityinvestmentshallbeadjusted.Thecashdividendsorprofitsdeclaredbytheinvesteearerecognizedasinvestmentincomeforthecurrentperiod.IftheGrouphasasignificantinfluenceontheinvestee,thelong-termequityinvestmentisaccountedforbytheequitymethod.Significantinfluencereferstohavingthepowertoparticipateindecision-makingonthefinancialandoperationalpoliciesoftheinvestee,butnotbeingabletocontrolorjointlycontroltheformulationofthesepolicieswithotherparties.

IftheGrouphasasignificantinfluenceontheinvestee,thelong-termequityinvestmentisaccountedforbytheequitymethod.Significantinfluencereferstohavingthepowertoparticipateindecision-makingonthefinancialandoperationalpoliciesoftheinvestee,butnotbeingabletocontrolorjointlycontroltheformulationofthesepolicieswithotherparties.

Whentheequitymethodisadopted,iftheinitialinvestmentcostofalong-termequityinvestmentisgreaterthanthefairvalueshareoftheinvestee'sidentifiablenetassetsatthetimeofinvestment,itshallbeincludedintheinitialinvestmentcostofthelong-termequityinvestment;Iftheinitialinvestmentcostofalong-termequityinvestmentislessthanthefairvalueshareoftheinvestee'sidentifiablenetassetsatthetimeofinvestment,thedifferenceshallbeincludedintheprofitorlossforthecurrentperiod,andthecostofthelong-termequityinvestmentshallbeadjustedatthesametime.

Whentheequitymethodisadopted,afterthelong-termequityinvestmentisobtained,theinvestmentprofitandlossandothercomprehensiveincomeshallberecognizedseparatelyandthebookvalueofthelong-termequityinvestmentshallbeadjustedaccordingtotheshareofthenetprofitorlossandothercomprehensiveincomerealizedbytheinvesteethatshouldbeenjoyedorshared.Whenrecognizingtheshareoftheinvestee'snetprofitorloss,theinvestee'snetprofitshallberecognizedafteradjustmentbasedonthefairvalueoftheinvestee'sidentifiableassetsatthetimeofacquisitionoftheinvestment,inaccordancewiththeGroup'saccountingpoliciesandaccountingperiods,andoffsettingtheshareattributabletotheinvestorinproportiontotheinternaltransactiongainsandlossesincurredwithassociates(exceptthatiftheinternaltransactionlossisanassetimpairmentloss,itshallberecognizedinfull),andthenetprofitoftheinvesteeshallberecognizedafteradjustment,exceptthattheassetsinvestedorsoldconstitutebusiness.Thecarryingamountofthelong-termequityinvestmentshallbereducedaccordinglybasedontheprofitsorcashdividendsdeclaredbytheinvestee.TheGrouprecognisesthatthenetlossincurredbytheinvesteeislimitedtothecarryingamountofthelong-termequityinvestmentandotherlong-termequitythatsubstantiallyconstitutesanetinvestmentintheinvesteetobewrittendowntozero,unlesstheGrouphastheobligationtobearadditionallosses.Forotherchangesinshareholders'equityoftheinvesteeotherthannetprofitorloss,othercomprehensiveincomeandprofitdistribution,thebookvalueoflong-termequityinvestmentshallbeadjustedandincludedinshareholders'equity.

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(11)	Fixedassets

FixedassetsarerecognisedonlywhentheeconomicbenefitsassociatedwiththemarelikelytoflowintotheGroupandtheircostscanbereliablymeasured.Subsequentexpensesrelatedtofixedassetsthatmeettherecognitionconditionsshallbeincludedinthecostoffixedassets,andthebookvalueofthereplacedpartshallbederecognized;Otherwise,itwillbeincludedinthecurrentprofitorlossorthecostofrelatedassetsaccordingtothebeneficiaryobjectwhenitoccurs.Fixedassetsareinitiallymeasuredatcost.Thecostofacquiringafixedassetincludesthepurchaseprice,relevanttaxes,andotherexpensesdirectlyattributabletotheassetincurredbeforethefixedassetreachesitsintendeduseablestate.

Fixedassetsareinitiallymeasuredatcost.Thecostofacquiringafixedassetincludesthepurchaseprice,relevanttaxes,andotherexpensesdirectlyattributabletotheassetincurredbeforethefixedassetreachesitsintendeduseablestate.Thedepreciationoffixedassetsiscalculatedusingtheaveragelifemethod,andtheusefullife,estimatednetresidualvaluerateandannualdepreciationrateofvarioustypesoffixedassetsareasfollows:

Thedepreciationoffixedassetsiscalculatedusingtheaveragelifemethod,andtheusefullife,estimatednetresidualvaluerateandannualdepreciationrateofvarioustypesoffixedassetsareasfollows:

Estimatedusefullives

Estimatednetresidualvalues

Annualdepreciationrates

Buildings

Buildings	35to40years	4%	2.4%to2.7%
Machineryandequipment	10to15years	4%	6.4%to9.6%
Vehicles	2to10years	4%to22.32%	9.6%to42.2%
Moulds	5years	-	20%
Electronicandotherequipment	5to7years	4%	13.7%to19.2%

Theestimatedusefullifeandtheestimatednetresidualvalueofafixedassetandthedepreciationmethodappliedtotheassetarereviewedandadjustedasappropriateateachyear-end.

Theestimatedusefullifeandtheestimatednetresidualvalueofafixedassetandthedepreciationmethodappliedtotheassetarereviewedandadjustedasappropriateateachyear-end.(12)

(12)	Constructioninprogress

Constructioninprogressismeasuredatactualcost.Actualcostcomprisesconstructioncosts,installationcosts,borrowingcoststhatareeligibleforcapitalisationandothercostsnecessarytobringtheconstructioninprogressreadyfortheirintendeduse.Constructioninprogressistransferredtofixedassetswhentheassetsarereadyfortheirintendeduse,anddepreciationischargedstartingfromthefollowingmonth.Thecarryingamountofconstructioninprogressisreducedtotherecoverableamountwhentherecoverableamountisbelowthecarryingamount(Note3(15)).

Thecriteriafortransferringconstructioninprogresstofixedassetswhentheyreachtheirintendedusablestateareasfollows:

Buildings

Buildings		Theearlierofcompletionacceptanceoractualcommencementofuse.
Machineryandequipment		Theearlierofcompletionofinstallationandacceptanceoractualcommencementofuse.
Vehicles		Theearlierofcompletionofinstallationandacceptanceoractualcommencementofuse.
Moulds		Theearlierofcompletionofinstallationandacceptanceoractualcommencementofuse.
Electronicandotherequipment		Theearlierofcompletionofinstallationandacceptanceoractualcommencementofuse.

3	Summaryofsignificantaccountingpoliciesandaccountingestimates(Cont’d)

(13)	Borrowingcosts

Theborrowingcoststhatcanbedirectlyattributabletotheacquisition,constructionorproductionofassetsthatmeettheconditionsforcapitalizationshallbecapitalized,andotherborrowingcostsshallbeincludedintheprofitorlossforthecurrentperiod.Borrowingcostsarecapitalizedwhencapitalexpendituresandborrowingcostshavebeenincurredandtheacquisition,constructionorproductionactivitiesnecessarytobringtheassettoitsintendedusableormarketableconditionhavecommenced.

Borrowingcostsarecapitalizedwhencapitalexpendituresandborrowingcostshavebeenincurredandtheacquisition,constructionorproductionactivitiesnecessarytobringtheassettoitsintendedusableormarketableconditionhavecommenced.Whentheacquisition,constructionorproductionofassetseligibleforcapitalizationreachestheintendedusableorsaleablestate,theborrowingcostsshallceasetobecapitalized.Borrowingcostsincurredthereafterareincludedinprofitorlossforthecurrentperiod.

Whentheacquisition,constructionorproductionofassetseligibleforcapitalizationreachestheintendedusableorsaleablestate,theborrowingcostsshallceasetobecapitalized.Borrowingcostsincurredthereafterareincludedinprofitorlossforthecurrentperiod.

Duringthecapitalizationperiod,theamountofinterestcapitalizationineachaccountingperiodshallbedeterminedaccordingtothefollowingmethod:theamountofspecialborrowingsshallbedeterminedbydeductingtheinterestincomeorinvestmentincomeoftemporarydepositsactuallyincurredinthecurrentperiod;Thegeneralborrowingsoccupiedshallbecalculatedanddeterminedonthebasisoftheweightedaverageoftheaccumulatedassetexpendituresexceedingtheportionofspecialborrowingsmultipliedbytheweightedaveragerealinterestrateofthegeneralborrowingsoccupied.

Intheprocessofacquisition,constructionorproductionofassetseligibleforcapitalization,ifthereisanabnormalinterruptionotherthantheproceduresnecessarytoreachtheintendedusableorsaleablestate,andtheinterruptionperiodexceeds3consecutivemonths,thecapitalizationofborrowingcostsshallbesuspended.Borrowingcostsincurredduringtheinterruptionperiodarerecognizedasexpensesandareincludedinprofitorlossforthecurrentperioduntiltheacquisitionorconstructionofassetsorproductionactivitiesresume.

(14)	Intangibleassets

(a)

(a)	Usefullifeofintangibleassets

Intangibleassetsareamortizedusingthestraight-linemethodovertheirusefullives,andtheirusefullivesareasfollows:

Estimatedusefullives

Basisfordetermination

Landuserights

Landuserights	50years	Thetermofthelanduseright
SoftwareUsageFees	5years	Estimatedperiodofuse
Non-patentedtechnology	5-7years	Estimatedperiodofusecombinedwiththeproductlifespan

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(14)	Intangibleassets(Cont’d)

(b)

(b)	Researchanddevelopment

TheGroup'sR&DexpendituremainlyincludesthematerialsusedbytheGroupincarryingoutR&Dactivities,theremunerationofemployeesintheR&Ddepartment,thedepreciationandamortizationofassetssuchasequipmentandsoftwareusedinR&D,R&DdesignexpensesandR&Dtesting.

Theexpensesintheplannedinvestigation,evaluationandselectionstagesforthestudyoftheproductionprocessofautomobile-relatedproductsaretheexpensesintheresearchstageandareincludedintheprofitorlossforthecurrentperiodwhenincurred;Beforelarge-scaleproduction,theexpenditureinthedesignandtestingstagesrelatedtothefinalapplicationoftheproductionprocessofautomobile-relatedproductsistheexpenditureinthedevelopmentstage,andifthefollowingconditionsaremet,itshallbecapitalized:

?Thedevelopmentoftheproductionprocessofautomobile-relatedproductshasbeen

fullydemonstratedbythetechnicalteam;?Themanagementhastheintentiontocompletethedevelopment,useorsaleofthe

productionprocessofautomotive-relatedproducts;?Theresearchandanalysisofthepreliminarymarketresearchshowsthattheproducts

producedbytheproductionprocessofautomobile-relatedproductshavetheabilityto

bemarketed;?Sufficienttechnicalandfinancialsupportforthedevelopmentofproductionprocesses

forautomotive-relatedproductsandsubsequentlarge-scaleproduction;and?Expendituresonthedevelopmentofproductionprocessesforautomotive-related

productscanbereliablyaggregated.

?Thedevelopmentoftheproductionprocessofautomobile-relatedproductshasbeen

fullydemonstratedbythetechnicalteam;?Themanagementhastheintentiontocompletethedevelopment,useorsaleofthe

productionprocessofautomotive-relatedproducts;?Theresearchandanalysisofthepreliminarymarketresearchshowsthattheproducts

producedbytheproductionprocessofautomobile-relatedproductshavetheabilityto

bemarketed;?Sufficienttechnicalandfinancialsupportforthedevelopmentofproductionprocesses

forautomotive-relatedproductsandsubsequentlarge-scaleproduction;and?Expendituresonthedevelopmentofproductionprocessesforautomotive-related

productscanbereliablyaggregated.

Expensesinthedevelopmentstagethatdonotmeettheaboveconditionsshallbeincludedintheprofitorlossforthecurrentperiodwhenincurred.Developmentexpendituresthathavebeenrecognizedinprofitorlossinpriorperiodsarenotrerecognizedasassetsinsubsequentperiods.Expendituresincurredinthedevelopmentphasethathavebeencapitalizedareshownonthebalancesheetasdevelopmentexpendituresandareconvertedintointangibleassetsfromthedateonwhichtheprojectreachesitsintendeduse.

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(15)	Impairmentofassets

Theimpairmentofassetsotherthaninventories,deferredincometaxandfinancialassetsshallbedeterminedaccordingtothefollowingmethods:whethertherearesignsofpossibleimpairmentofassetsatthebalancesheetdate,andiftherearesignsofimpairment,theGroupwillestimatetherecoverableamountandconductimpairmenttests;Impairmenttestsshallbecarriedoutatleastattheendofeachperiodforgoodwillformedasaresultofbusinesscombinations,intangibleassetswithindefiniteusefullivesandintangibleassetsthathavenotyetreachedausablestate,regardlessofwhetherthereisanyindicationofimpairment.

Therecoverableamountisdeterminedbasedonthehigherofthefairvalueoftheassetlessdisposalcostsandthepresentvalueoftheasset'sprojectedfuturecashflows.TheGroupestimatesitsrecoverableamountonasingleassetbasis;Whereitisdifficulttoestimatetherecoverableamountofasingleasset,therecoverableamountoftheassetgroupshallbedeterminedonthebasisoftheassetgrouptowhichtheassetbelongs.Thedeterminationoftheassetgroupisbasedonwhetherthemaincashinflowgeneratedbytheassetgroupisindependentofotherassetsorthecashinflowoftheassetgroup.Whentherecoverableamountofanassetorassetgroupislowerthanitscarryingamount,theGroupwritesdownitscarryingamounttotherecoverableamount,andthewrittendownamountisincludedintheprofitorlossforthecurrentperiod,andthecorrespondingassetimpairmentprovisionismade.

Whentherecoverableamountofanassetorassetgroupislowerthanitscarryingamount,theGroupwritesdownitscarryingamounttotherecoverableamount,andthewrittendownamountisincludedintheprofitorlossforthecurrentperiod,andthecorrespondingassetimpairmentprovisionismade.Fortheimpairmenttestofgoodwill,thecarryingamountofgoodwillisallocatedtotherelevantassetgrouporcombinationofassetgroupsinareasonablemannerfromthedateofpurchase.Therelevantassetgrouporcombinationofassetgroupsistheassetgrouporcombinationofassetgroupsthatcanbenefitfromthesynergiesofthebusinesscombination,andisnotlargerthantheoperatingsegmentdeterminedbytheGroup.

Fortheimpairmenttestofgoodwill,thecarryingamountofgoodwillisallocatedtotherelevantassetgrouporcombinationofassetgroupsinareasonablemannerfromthedateofpurchase.Therelevantassetgrouporcombinationofassetgroupsistheassetgrouporcombinationofassetgroupsthatcanbenefitfromthesynergiesofthebusinesscombination,andisnotlargerthantheoperatingsegmentdeterminedbytheGroup.

Comparethecarryingamountandrecoverableamountoftheassetgrouporassetgroupcombinationcontaininggoodwill,iftherecoverableamountislowerthanthebookvalue,theimpairmentlossamountshallfirstbeoffsetagainstthecarryingamountofthegoodwillallocatedtotheassetgrouporassetgroupcombination,andthenthecarryingamountofotherassetsshallbeoffsetproportionallyaccordingtotheproportionofthecarryingamountofotherassetsintheassetgrouporassetgroupportfolioexceptgoodwill.

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(16)	Employeecompensation

EmployeeremunerationreferstovariousformsofremunerationorcompensationgivenbytheGroupfortheservicesprovidedbyemployeesorfortheterminationofemploymentrelations,includingshort-termremuneration,post-employmentbenefitsandseverancebenefits.

(a)	Short-termcompensation

Short-termremunerationincludeswages,bonuses,allowancesandsubsidies,employeewelfareexpenses,medicalinsurancepremiums,work-relatedinjuryinsurancepremiums,housingprovidentfund,tradeunionandeducationfunds,short-termpaidabsences,etc.Duringtheaccountingperiodinwhichemployeesprovideservices,theGrouprecognisestheactualshort-termremunerationasaliabilityandincludesitintheprofitorlossforthecurrentperiodorthecostofrelatedassets.Amongthem,non-monetarybenefitsaremeasuredatfairvalue.

(b)	Post-employmentbenefits

TheGroupclassifiespost-employmentbenefitplansintodefinedcontributionplansanddefinedbenefitplans.Adefineddepositandwithdrawalplanisapost-employmentbenefitplaninwhichtheGroupisnolongerobligatedtomakefurtherpaymentsafterdepositingafixedfeeintoanindependentfund;Adefinedbenefitplanisapost-employmentbenefitplaninadditiontoadefinedcontributionplan.Duringthereportingperiod,thebasicendowmentinsuranceandunemploymentinsurancepaidforemployeeswereallpartofthesetdepositplan.Supplementalretirementbenefitsforemployeesaredefinedbenefitplans.

(i)	Definedcontributionplans

Basicpensions

TheGroup’semployeesparticipateinthebasicpensionplansetupandadministeredbylocalauthoritiesofMinistryofHumanResourcesandSocialSecurity.Monthlypaymentsofpremiumsonthebasicpensionsarecalculatedaccordingtothebasesandpercentageprescribedbytherelevantlocalauthorities.Whenemployeesretire,therelevantlocalauthoritiesareobligedtopaythebasicpensionstothem.Theamountsbasedontheabovecalculationsarerecognisedasliabilitiesintheaccountingperiodinwhichtheservicehasbeenrenderedbytheemployees,withacorrespondingchargetotheprofitorlossforthecurrentperiodorthecostofrelevantassets.

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(16)	Employeecompensation(Cont’d)

(ii)

(ii)	Definedbenefitplans

TheGroupalsoprovidesemployeeswithsupplementaryretirementbenefitsinadditiontotheinsurancesystemprescribedbytheState.Suchsupplementaryretirementbenefitsbelongtodefinedbenefitplans.Thedefinedbenefitliabilitiesrecognisedonthebalancesheetrepresentthepresentvalueofdefinedbenefitobligationslessthefairvalueoftheplanassets.Thedefinedbenefitobligationsarecalculatedannuallybyanindependentactuaryusingprojectedunitcreditmethodattheinterestrateoftreasurybondswithsimilarobligationtermandcurrency.Servicecostsrelatedtosupplementaryretirementbenefits(includingcurrentservicecosts,historicalservicecostsandsettledgainsorlosses)andnetinterestarerecognisedinprofitorlossforthecurrentperiodorthecostofrelatedassets,andchangesarisingfromremeasurementofnetliabilitiesornetassetsofdefinedbenefitplansarerecognisedinothercomprehensiveincome.

(c)	Terminationbenefits

TheGroupprovidescompensationforterminatingtheemploymentrelationshipwithemployeesbeforetheendoftheemploymentcontractsorasanoffertoencourageemployeestoacceptvoluntaryredundancybeforetheendoftheemploymentcontracts.TheGrouprecognisesaliabilityarisingfromcompensationforterminationoftheemploymentrelationshipwithemployees,withacorrespondingchargetoprofitorlossforthecurrentperiodattheearlierofthefollowingdates:1)whentheGroupcannotunilaterallywithdrawanemploymentterminationplanoracurtailmentproposal;2)whentheGrouprecognisescostsorexpensesforarestructuringthatinvolvesthepaymentofterminationbenefits.

Internalretirementbenefits

TheGroupprovidesinternalretirementbenefitstoemployeeswhohavereceivedinternalretirementarrangements.InternalretirementbenefitsrefertothewagespaidandsocialinsurancepremiumspaidtoemployeeswhohavenotreachedtheretirementageprescribedbythestateandwhohavevoluntarilyquittheirjobswiththeapprovaloftheGroup'smanagement.TheGrouppaysinternalretirementbenefitstoemployeesfromthedateofcommencementoftheinternalretirementarrangementuntiltheemployeesreachthenormalretirementage.Fortheinternalretirementbenefits,theGroupwillaccountfortheretirementbenefitsbycomparison,andwhentheconditionsfortherecognitionoftheretirementbenefitsaremet,thewagesandsocialinsurancepremiumstobepaidbytheemployeesduringtheperiodfromthedateofcessationoftheemployee'sservicestothenormalretirementdatewillberecognizedasliabilitiesandincludedintheprofitorlossforthecurrentperiodinalumpsum.Changesinactuarialassumptionsforretirementbenefitsanddifferencescausedbyadjustmentstobenefitstandardsarerecognizedinprofitorlossforthecurrentperiodwhentheyoccur.

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(17)	Provisions

Provisionsforproductwarranties,compensationtosuppliers,etc.arerecognisedwhentheGrouphasapresentobligation,itisprobablethatanoutflowofeconomicbenefitswillberequiredtosettletheobligation,andtheamountoftheobligationcanbemeasuredreliably.

Aprovisionisinitiallymeasuredatthebestestimateoftheexpenditurerequiredtosettletherelatedpresentobligation.Factorsonacontingency,suchastherisks,uncertaintiesandthetimevalueofmoney,aretakenintoaccountasawholeinreachingthebestestimateofaprovision.Wheretheeffectofthetimevalueofmoneyismaterial,thebestestimateisdeterminedbydiscountingtherelatedfuturecashoutflows.Theincreaseinthediscountedamountoftheprovisionarisingfrompassageoftimeisrecognisedasinterestexpense.

Thecarryingamountofprovisionsisreviewedateachbalancesheetdateandadjustedtoreflectthecurrentbestestimate.Theprovisionsexpectedtobesettledwithinoneyearsincethebalancesheetdateareclassifiedasothercurrentliabilities.

Theprovisionsexpectedtobesettledwithinoneyearsincethebalancesheetdateareclassifiedasothercurrentliabilities.(18)

(18)

Revenue

TheGroupsellsautomobilesandautomobilepartstodistributorsorendcustomers.Inaddition,theGroupalsoprovidescustomerswithautomaintenanceandadditionalqualitywarrantyservices.TheGrouprecognisesrevenueattheamountoftheconsiderationthatisentitledtobechargedbytheGroupasexpectedwhenthecustomerobtainscontroloverrelevantgoodsorservices.

WheretwoormoreobligationsareincludedinacontractbetweentheGroupandthecustomers,atthebeginningdateofthecontract,theGroupallocatesthetransactionpricetoindividualobligationintherelativeproportiontotheindividualsellingpricesofproductsorservicescommittedineachindividualobligation.Whentheindividualsellingpriceisunobservable,theGroupmakesreasonableestimatesontheindividualsellingpricewithcomprehensiveconsiderationtoallavailableinformation,andbyusingmarketadjustmentmethod,costplusmethod,etc.

(a)	Saleofautomobilesandautomobilepartstodistributorsandendcustomers

TheGroupsellsautomobilesandautomobilepartstodistributorsandendcustomers.Accordingtothecontract,thedeliveryiscompletedaftertheproductsaredeliveredatthecontracteddeliverylocationandacceptancebybothparties.TheGrouprecognisestherevenueatthetimingofdeliverycompletion.ThecreditperiodsgrantedbytheGrouptodistributorsandendcustomersaregenerallywithinoneyear,whichisconsistentwiththeindustrypractice,andthereisnosignificantfinancingcomponent.TheGroupprovidesproductwarrantiesforautomobilesandautomobilepartsasrequiredbylawsandregulationsandrecognisesthecorrespondingprovisions(Note3(17)).TheGroupprovidesdistributorsandendcustomerswithsalesdiscountsbasedonsalesvolume,andrelatedrevenueisrecognisedatcontractconsiderationnetofthediscountamountestimatedbasedonhistoricalexperienceandusingtheexpectedvaluemethod.

3	Summaryofsignificantaccountingpoliciesandaccountingestimates(Cont’d)

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(18)	Revenue(Cont’d)

(b)

(b)	Renderingofservices

TheGroupprovidescustomerswithautomobiletransportation,automobilemaintenanceandadditionalqualitywarrantyservices,andtherevenueisrecognisedbasedontheprogressofserviceprovisionwithinacertainperiod.Accordingtothenatureoftheserviceprovided,theperformanceprogressisdeterminedinaccordancewiththevalueofthelabourprovidedtothecustomer.

WhentheGrouprecognisesrevenuebasedonthestageofcompletion,theamountwithunconditionalcollectionrightobtainedbytheGroupisrecognisedasaccountsreceivable,andtherestisrecognisedascontractassets.Meanwhile,lossprovisionforaccountsreceivableisrecognisedonthebasisofECL(Note3(8)).Ifthecontractpricereceivedorreceivableexceedstheamountforthecompletedservice,theexcessportionwillberecognisedascontractliabilities.Contractassetsandcontractliabilitiesunderthesamecontractarepresentedonanetbasis.

(19)	Governmentgrants

Governmentsubsidiesarerecognizedwhentheconditionsattachedtothemcanbemetandcanbereceived.Ifthegovernmentsubsidyisamonetaryasset,itshallbemeasuredaccordingtotheamountreceivedorreceivable.Ifthegovernmentsubsidyisanon-monetaryasset,itshallbemeasuredatfairvalue;Ifthefairvaluecannotbereliablyobtained,itshallbemeasuredaccordingtothenominalamount.

Ifthegovernmentdocumentsstipulatethatitisusedfortheacquisition,constructionorotherformationoflong-termassets,itshallberegardedasagovernmentsubsidyrelatedtotheassets;Ifthegovernmentdocumentsarenotclear,thejudgmentshallbemadeonthebasisofthebasicconditionsthatmustbemettoobtainthesubsidy,andthebasicconditionoftheformationoflong-termassetsthroughacquisition,constructionorothermeansshallberegardedasthegovernmentsubsidyrelatedtotheassets,andtheothershallberegardedasthegovernmentsubsidyrelatedtotheincome.

Ifthegovernmentsubsidyrelatedtotheincomeisusedtocompensatefortherelevantcosts,expensesorlossesinsubsequentperiods,itshallberecognizedasdeferredincome,andshallbeincludedintheprofitorlossforthecurrentperiodoroffsettherelevantcostsintheperiodinwhichtherelevantcosts,expensesorlossesarerecognized;Ifitisusedtocompensatefortherelevantcosts,expensesorlossesthathavebeenincurred,itshallbedirectlyincludedintheprofitorlossforthecurrentperiodoroffsettherelevantcosts.

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(19)	Governmentgrants(Cont’d)

Asset-relatedgovernmentsubsidiestooffsetthecarryingamountoftheunderlyingassets;orrecognizedasdeferredincome,whichshallbeincludedinprofitorlossininstalmentsinareasonableandsystematicmannerduringtheusefullifeoftherelevantasset(exceptthatthegovernmentsubsidymeasuredaccordingtothenominalamountshallbedirectlyincludedintheprofitorlossforthecurrentperiod),andiftherelevantassetissold,transferred,scrappedordamagedbeforetheendofitsusefullife,thebalanceoftherelevantdeferredincomethathasnotyetbeendistributedshallbetransferredtotheprofitorlossofthecurrentperiodofassetdisposal.Ifthefinancedepartmentallocatesthesubsidizedfundstothelendingbank,andthelendingbankprovidesloanstotheGroupatapreferentialpolicyinterestrate,theactualamountoftheborrowedmoneyreceivedshallbeusedastherecordedvalueoftheborrowing,andtherelevantborrowingcostsshallbecalculatedaccordingtotheprincipaloftheloanandthepreferentialinterestrateofthepolicy.

Ifthefinancedepartmentallocatesthesubsidizedfundstothelendingbank,andthelendingbankprovidesloanstotheGroupatapreferentialpolicyinterestrate,theactualamountoftheborrowedmoneyreceivedshallbeusedastherecordedvalueoftheborrowing,andtherelevantborrowingcostsshallbecalculatedaccordingtotheprincipaloftheloanandthepreferentialinterestrateofthepolicy.(20)

(20)	Deferredincometax

TheGroupadoptsthebalancesheetobligationmethodtoprovidedeferredincometaxbasedonthetemporarydifferencesbetweenthecarryingamountofassetsandliabilitiesatthebalancesheetdateandthetaxbase,aswellasthedifferencebetweenthecarryingamountandthetaxbasisofitemsthatarenotrecognizedasassetsandliabilitiesbutwhosetaxbasiscanbedeterminedinaccordancewiththeprovisionsofthetaxlaw.

Deferredtaxliabilitiesarerecognizedforallkindsoftaxabletemporarydifferences,unless:

?Ataxabletemporarydifferencearisesinthefollowingtransactions:theinitial

recognitionofgoodwill,ortheinitialrecognitionofassetsorliabilitiesarisinginasingletransactionthatisnotabusinesscombination,thetransactionoccursthatdoesnotaffectneithertheaccountingprofitnorthetaxableincomeordeductibleloss,andtheassetsandliabilitiesinitiallyrecognizeddonotresultinthecreationofanequalamountoftaxabletemporarydifferencesanddeductibletemporarydifferences;?Fortaxabletemporarydifferencesrelatedtoinvestmentsinsubsidiariesand

associates,thetimingofthereversalofthetemporarydifferenceiscontrollableandthetemporarydifferenceislikelynottobereversedintheforeseeablefuture.

?Ataxabletemporarydifferencearisesinthefollowingtransactions:theinitial

associates,thetimingofthereversalofthetemporarydifferenceiscontrollableandthetemporarydifferenceislikelynottobereversedintheforeseeablefuture.Fordeductibletemporarydifferences,deductiblelossesandtaxcreditsthatcanbecarriedforwardtofutureperiods,theGrouprecognisesdeferredtaxassetstotheextentthatitislikelytoobtainfuturetaxableincometooffsetthedeductibletemporarydifferences,deductiblelossesandtaxcredits,unless:

Fordeductibletemporarydifferences,deductiblelossesandtaxcreditsthatcanbecarriedforwardtofutureperiods,theGrouprecognisesdeferredtaxassetstotheextentthatitislikelytoobtainfuturetaxableincometooffsetthedeductibletemporarydifferences,deductiblelossesandtaxcredits,unless:

?Adeductibletemporarydifferencearisesinasingletransactionthatisnotabusiness

combination,thetransactiondoesnotaffecttheaccountingprofitortaxableincomeordeductiblelossatthetimeofthetransaction,andtheassetsandliabilitiesinitiallyrecognizeddonotresultinthecreationofanequalamountoftaxabletemporarydifferenceandadeductibletemporarydifference;?Fordeductibletemporarydifferencesrelatedtoinvestmentsinsubsidiariesand

associates,thetemporarydifferencesarelikelytobereversedintheforeseeablefutureandtaxableincometobeusedtooffsetthetemporarydifferencesislikelytobeobtainedinthefuture.

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(20)	Deferredincometax(Cont’d)

TheGroup'sdeferredtaxassetsanddeferredtaxliabilitiesaremeasuredattheapplicabletaxrateduringtheperiodinwhichtheassetsareexpectedtoberecoveredortheliabilitiesareliquidatedinaccordancewiththeprovisionsofthetaxlaw,andreflecttheincometaximpactoftheexpectedrecoveryofassetsorthesettlementofliabilitiesatthebalancesheetdate.

Atthebalancesheetdate,theGroupreviewsthecarryingamountofdeferredtaxassetsandwritesdownthecarryingamountofdeferredtaxassetsifitislikelythatsufficienttaxableincomewillnotbeavailableinfutureperiodstooffsetthebenefitsofdeferredtaxassets.Atthebalancesheetdate,theGroupre-evaluatestheunrecogniseddeferredtaxassetstotheextentthatitislikelytoobtainsufficienttaxableincometobeabletoreverseallorpartofthedeferredtaxassets.Deferredtaxassetsanddeferredtaxliabilitiesarepresentedonanetbasiswhenthefollowingconditionsaremet:theyhavethelegalrighttosettlecurrentincometaxassetsandcurrentincometaxliabilitiesonanetbasis;Deferredtaxassetsanddeferredtaxliabilitiesarerelatedtotheincometaxleviedbythesametaxcollectionandadministrationdepartmentonthesametaxableentity.

Deferredtaxassetsanddeferredtaxliabilitiesarepresentedonanetbasiswhenthefollowingconditionsaremet:theyhavethelegalrighttosettlecurrentincometaxassetsandcurrentincometaxliabilitiesonanetbasis;Deferredtaxassetsanddeferredtaxliabilitiesarerelatedtotheincometaxleviedbythesametaxcollectionandadministrationdepartmentonthesametaxableentity.(21)

(21)	Leases
	Atthecommencementdateofthecontract,theGroupassesseswhetherthecontractisaleaseoranincludedleaseandifapartytothecontractrelinquishestherighttocontroltheuseofoneormoreidentifiedassetsforacertainperiodoftimeinexchangeforconsideration,thecontractisaleaseoraincludedlease.

(a)

(a)	Asthelessee
	Inadditiontoshort-termleasesandleasesoflow-valueassets,theGrouprecognisesright-of-useassetsandleaseliabilitiesforleases.

Ifthecontractincludesbothleaseandnon-leaseparts,theGroupshallapportionthecontractconsiderationaccordingtotherelativeproportionoftheindividualpricesofeachpart.

Atthecommencementdateoftheleaseterm,theGrouprecognisesitsrighttousetheleasedassetduringtheleasetermasaright-of-useasset,whichisinitiallymeasuredatcost.Thecostofaright-of-useassetincludes:theinitialmeasurementamountoftheleaseliability;theamountoftheleasepaymentpaidonorbeforethestartdateoftheleaseterm(lesstheamountinrelationtotheleaseincentivereceived);Initialdirectexpensesincurredbythelessee;Thecoststhatthelesseeexpectstoincurinordertodismantleandremovetheleasedasset,restorethepremisesonwhichtheleasedassetislocated,orrestoretheleasedassettotheconditionagreedinthetermsofthelease.IftheGroupremeasuresleaseliabilitiesduetochangesinleasepayments,thecarryingamountofright-of-useassetswillbeadjustedaccordingly.Subsequently,theGroupadoptedtheaveragelifemethodtoprovidedepreciationforright-of-useassets.Ifitcanbereasonablydeterminedthattheownershipoftheleasedassetswillbeacquiredattheendoftheleaseterm,theGroupshallaccruedepreciationduringtheremainingusefullifeoftheleasedassets.Ifitisnotreasonablycertainthattheownershipoftheleasedassetscanbeobtainedattheendoftheleaseterm,theGroupshallaccruedepreciationduringtheperiodbetweentheleasetermandtheremainingusefullifeoftheleasedassets.

JIANGLINGMOTORSCORPORATION,LTD.NOTESTOTHEFINANCIALSTATEMENTSFORTHESIXMONTHSENDED30June2025

(AllamountsinRMBYuanunlessotherwisestated)[Englishtranslationforreferenceonly]

3	Summaryofsignificantaccountingpoliciesandaccountingestimates(Cont’d)

(21)

(21)	Leases(Cont’d)

Atthecommencementdateoftheleaseterm,theGrouprecognisesthepresentvalueoftheoutstandingleasepaymentsasleaseliabilities,excludingshort-termleasesandleasesoflow-valueassets.Leasepaymentsincludefixedpaymentsandsubstantialfixedpaymentsnetofleaseincentives,variableleasepaymentsdependingontheindexorratio,expectedpaymentsbasedontheresidualvalueoftheguarantee,andtheexercisepriceofthepurchaseoptionortheexerciseoftheterminationoption,providedthattheGroupreasonablydeterminesthattheoptionwillbeexercisedortheleasetermreflectsthattheGroupwillexercisetheleaseterminationoption.Variableleasepaymentsthatarenotincludedinthemeasurementofleaseliabilitiesarerecognizedinprofitorlossforthecurrentperiodwhenactuallyincurred,unlessotherwisespecifiedinthecostoftherelevantassets.TheGroupremeasuresleaseliabilitiesbasedonthepresentvalueofthechangedleasepaymentswhenthereisachangeintheamountoftherealfixedpayment,achangeintheestimatedamountpayablefortheresidualvalueoftheguarantee,achangeintheindexorratiousedtodeterminetheamountoftheleasepayment,andachangeintheevaluationresultoractualexerciseoftheoptiontopurchase,reneworterminatetheoption.

TheGrouprecognisesaleasewithaleasetermofnotmorethan12monthsandwithoutapurchaseoptionasashort-termleaseonthecommencementdateoftheleaseterm;Whenasingleleasedassetisabrandnewasset,aleasewithalowervalueisrecognizedasaleaseofalow-valueasset.TheGroupchoosesnottorecogniseright-of-useassetsandleaseliabilitiesforshort-termleasesandleasesoflow-valueassets.Thecostoftherelevantassetorcurrentprofitorlossisrecognizedonastraight-linebasisforeachperiodoftheleaseterm.

(b)	Asthelessor

Leasesthattransfersubstantiallyalloftherisksandrewardsassociatedwithownershipoftheleasedassetsattheleasecommencementdatearefinanceleases,andallotherleasesareoperatingleases.

Therentalincomefromoperatingleasesisrecognizedasprofitorlossforthecurrentperiodonastraight-linebasisforeachperiodoftheleaseterm,andthevariableleasepaymentsthatarenotincludedintheleasereceiptsarerecognizedintheprofitorlossforthecurrentperiodwhenactuallyincurred.Initialdirectexpensesarecapitalisedandamortizedovertheleasetermonthesamebasisasrentalincomerecognition,andareincludedinprofitorlossforthecurrentperiod.

Onthecommencementdateoftheleaseterm,theGrouprecognizedthefinancialleasereceivablesforthefinancialleaseandterminatedtherecognitionofthefinancialleaseassets.WhentheGroupinitiallymeasuresthefinancialleasereceivables,thenetleaseinvestmentisusedastherecordedvalueofthefinancialleasereceivables.Netleaseinvestmentisthesumoftheunsecuredresidualvalueandthepresentvalueofleasereceiptsnotyetreceivedatthestartdateoftheleasetermdiscountedattheinterestrateembeddedinthelease,includinginitialdirectcosts.TheGroupcalculatesandrecognisesinterestincomeforeachperiodoftheleasetermatafixedperiodicinterestrate.VariableleasepaymentsmadebytheGroupthatarenotincludedinthemeasurementofnetleaseinvestmentsarerecognizedinprofitorlossforthecurrentperiodwhentheyareactuallyincurred.

3	Summaryofsignificantaccountingpoliciesandaccountingestimates(Cont’d)

(22)

(22)	Safetyproductionfee

Thesafetyproductionfeewithdrawninaccordancewiththeregulationsshallbeincludedinthecostoftherelevantproductorthecurrentprofitorloss,andshallbeincludedinthespecialreserve;Whenusing,distinguishwhetherfixedassetsareformedanddealwiththemseparately:ifitisanexpenseexpenditure,itwilldirectlyoffsetthespecialreserves;Iffixedassetsareformed,theexpensesincurredshallbecollected,andthefixedassetsshallberecognizedwhentheyreachtheintendedusablestate,andtheequivalentspecialreservesshallbewrittenoffandtheequivalentaccumulateddepreciationshallberecognized.

(23)	Fairvaluemeasurement

Assetsandliabilitiesmeasuredordisclosedatfairvalueinthefinancialstatementsaredeterminedbasedonthelowestlevelofinputsthatarematerialtothefairvaluemeasurementasawhole:Level1inputs,whichareunadjustedquotesinactivemarketsforthesameassetsorliabilitiesthatcanbeobtainedatthemeasurementdate;Level2inputs,whicharedirectlyorindirectlyobservableinputsforrelatedassetsorliabilitiesotherthanLevel1inputs;Thethirdlevelofinputvalue,theunobservableinputvalueoftherelevantassetorliability.

(24)	Criticalaccountingestimatesandjudgements

Thepreparationoffinancialstatementsrequiresmanagementtomakejudgments,estimatesandassumptionsthataffecttheamountsanddisclosuresofincome,expenses,assetsandliabilities,aswellasthedisclosureofcontingentliabilitiesatthebalancesheetdate.Theresultsoftheseuncertaintiesinassumptionsandestimatesmayresultinsignificantadjustmentstothecarryingamountsoftheassetsorliabilitiesaffectedinthefuture.

(a)	Criticaljudgementsinapplyingtheaccountingpolicies

InapplyingtheGroup'saccountingpolicies,managementhasmadethefollowingjudgmentsthathaveamaterialimpactontheamountsrecognizedinthefinancialstatements:

Businessmodel

TheclassificationoffinancialassetsatthetimeofinitialrecognitiondependsontheGroup'sbusinessmodelformanagingfinancialassets,andindeterminingthebusinessmodel,theGroupconsidersthemannerinwhichtheperformanceoffinancialassetsisevaluatedandreportedtokeymanagementpersonnel,therisksaffectingtheperformanceoffinancialassetsandhowtheyaremanaged,andthemannerinwhichrelevantbusinessmanagersareremunerated.Inassessingwhethertheobjectiveistocollectcontractualcashflows,theGroupneedstoanalyzeanddeterminethereason,timing,frequencyandvalueofthesaleoffinancialassetsbeforethematuritydate.

JIANGLINGMOTORSCORPORATION,LTD.NOTESTOTHEFINANCIALSTATEMENTSFORTHESIXMONTHSENDED30June2025

(AllamountsinRMBYuanunlessotherwisestated)[Englishtranslationforreferenceonly]

3	Summaryofsignificantaccountingpoliciesandaccountingestimates(Cont’d)

(24)

(24)	Criticalaccountingestimatesandjudgements(Cont’d)

Characteristicsofcontractualcashflows

Theclassificationoffinancialassetsatthetimeofinitialrecognitiondependsonthecontractualcashflowcharacteristicsofthefinancialassets,anditisnecessarytodeterminewhetherthecontractualcashflowsareonlythepaymentofprincipalandinterestbasedontheoutstandingprincipal,whetherthereisasignificantdifferencecomparedwiththebenchmarkcashflowwhenthetimevalueofmoneyisincludedintheassessmentofthetimevalueofmoney,andwhetherthefairvalueoftheprepaymentfeatureisverysmallinthecaseoffinancialassetscontainingprepaymentfeatures.

Judgmentofasignificantincreaseincreditriskandcreditimpairmentthathasoccurred

Indistinguishingthedifferentstagesoffinancialinstruments,theGroup'sjudgmentonthesignificantincreaseincreditriskandthecreditimpairmentthathasoccurredisasfollows:

TheGroup'smaincriteriaforjudgingasignificantincreaseincreditriskarethatthenumberofoverduedaysexceeds30days,orthereisasignificantchangeinoneormoreofthefollowingindicators:thedebtor'sbusinessenvironment,internalandexternalcreditratings,significantchangesinactualorexpectedoperatingresults,andasignificantdeclineinthevalueofcollateralorthecreditratingoftheguarantorthatwillaffecttheprobabilityofdefault.TheGroup'smaincriteriaforjudgingthatcreditimpairmenthasoccurredarethatthenumberofoverduedaysexceeds90days(i.e.,defaulthasoccurred),oroneormoreofthefollowingconditionsaremet:thedebtorhassignificantfinancialdifficulties,undergoesotherdebtrestructuringorislikelytogobankrupt.?

TheGroup'smaincriteriaforjudgingthatcreditimpairmenthasoccurredarethatthenumberofoverduedaysexceeds90days(i.e.,defaulthasoccurred),oroneormoreofthefollowingconditionsaremet:thedebtorhassignificantfinancialdifficulties,undergoesotherdebtrestructuringorislikelytogobankrupt.?(b)

(b)	Uncertaintyintheestimate

Thefollowingarekeyassumptionsaboutthefutureatthebalancesheetdateandotherkeysourcesofuncertaintyintheestimatesthatmayresultinsignificantadjustmentstothecarryingamountsofassetsandliabilitiesinfutureperiods.

Impairmentoffinancialinstruments

TheGroupusesanexpectedcreditlossmodeltoassesstheimpairmentoffinancialinstruments,andtheapplicationoftheexpectedcreditlossmodelrequiressignificantjudgmentandestimation,takingintoaccountallreasonableandsubstantiatedinformation,includingforward-lookinginformation.Inmakingthesejudgmentsandestimates,theGroupinferredtheexpectedchangesinthedebtor'screditriskbasedonhistoricalrepaymentdatacombinedwitheconomicpolicies,macroeconomicindicators,industryrisksandotherfactors.Differentestimatesmayaffecttheprovisionforimpairment,andtheprovisionforimpairmentmaynotbeequaltotheactualamountofimpairmentlossesinthefuture.

JIANGLINGMOTORSCORPORATION,LTD.NOTESTOTHEFINANCIALSTATEMENTSFORTHESIXMONTHSENDED30June2025

(AllamountsinRMBYuanunlessotherwisestated)[Englishtranslationforreferenceonly]

3	Summaryofsignificantaccountingpoliciesandaccountingestimates(Cont’d)

(24)

(24)	Criticalaccountingestimatesandjudgements(Cont’d)

Impairmentofnon-currentassetsotherthanfinancialassets(otherthangoodwill)

TheGroupdetermineswhetherthereisanyindicationofpossibleimpairmentofnon-currentassetsotherthanfinancialassetsatthebalancesheetdate.Forintangibleassetswithanindefiniteusefullife,inadditiontotheimpairmenttestconductedannually,whentherearesignsofimpairment,theimpairmenttestisalsoconducted.Othernon-currentassets,otherthanfinancialassets,aretestedforimpairmentwhenthereareindicationsthattheirbookvalueisnotrecoverable.Impairmentoccurswhenthecarryingamountofanassetorgroupofassetsishigherthantherecoverableamount,i.e.,thehigherofthefairvaluelessdisposalcostsandthepresentvalueoftheprojectedfuturecashflows.Thefairvalue,netofdisposalcosts,isdeterminedbyreferencetotheagreedsalepriceorobservablemarketpriceofasimilarassetinanarm'slengthtransaction,lessincrementalcostsdirectlyattributabletothedisposaloftheasset.Whenestimatingthepresentvalueoffuturecashflows,managementmustestimatetheprojectedfuturecashflowsoftheassetorgroupofassetsandselectanappropriatediscountratetodeterminethepresentvalueoffuturecashflows.

Developmentexpenditures

Whendeterminingtheamounttobecapitalized,managementmustmakeassumptionsregardingtheestimatedfuturecashflowsoftheasset,theapplicablediscountrate,andtheexpectedbenefitperiod.

Deferredtaxassets

Totheextentthatthereislikelytobesufficienttaxableincometocoverthedeductibleloss,deferredtaxassetsshouldberecognisedforallunutiliseddeductiblelosses.Thisrequiresmanagementtouseagreatdealofjudgmenttoestimatethetimingandamountoftaxableincometobeobtainedinthefuture,combinedwithataxplanningstrategy,todeterminetheamountofdeferredtaxassetstoberecognized.

Warranty

Foraportfolioofcontractswithsimilarcharacteristics,theGroupmakesareasonableestimateofthewarrantyratebasedonhistoricalwarrantydata,currentwarrantysituation,andallrelevantinformationsuchasproductimprovementandmarketchanges.Theestimatedwarrantyratesmaynotbeequaltotheactualfuturewarrantyrates,andtheGrouphasre-evaluatedthewarrantyratesatleastateachbalancesheetdateanddeterminedtheprojectedliabilitiesbasedonthere-assessedwarrantyrates.

JIANGLINGMOTORSCORPORATION,LTD.NOTESTOTHEFINANCIALSTATEMENTSFORTHESIXMONTHSENDED30June2025

(AllamountsinRMBYuanunlessotherwisestated)[Englishtranslationforreferenceonly]

Taxation

(1)

(1)	ThemaincategoriesandratesoftaxesapplicabletotheGrouparesetoutbelow:

Category

Taxationbasis

Taxrate

Value-addedtax(“VAT”)

Value-addedtax(“VAT”)	Thedifferencebetweenthesalesamountandtheoutputtaxcalculatedattheapplicabletaxrate,afterdeductingtheinputtaxamountforwhichthecreditisgranted	13%,9%and6%
Consumptiontax	Taxablesalesamount	9%,5%and3%
Citymaintenanceandconstructiontax	ThepaymentamountofVATandconsumptiontax	7%and5%
Enterpriseincometax	Taxableincome	25%and15%

(2)

(2)	Taxpreference

Accordingtotherelevantregulationsofthenationalhigh-techcertificationandrelatedpreferentialtaxpolicies,thecompanyhaspassedthecertificationofhigh-techenterprisesin2024andisvalidforthreeyears.ThecorporateincometaxrateapplicabletotheCompanyinthesixmonthsended30June2025is15%(thesixmonthsended30June2024：15%).

Asat30June2025,exceptfortheCompany,theCompany’swholly-ownedcompanies,includingJMCHeavyDutyVehicleCo.,Ltd.(“JMCH”),JianglingMotorSalesCo.,Ltd.(“JMCS”),ShenzhenFujiangNewEnergyAutomobileSalesCo.,Ltd.(“SZFJ”),GuangzhouFujiangNewEnergyAutomobileSalesCo.,Ltd.(“GZFJ”),andJianglingFordAutomobileTechnology(Shanghai)Co.,Ltd.(“JianglingFord(Shanghai)”)weresubjecttotheenterpriseincometaxattherateof25%(thesixmonthsended30June2024：25%).

PursuanttotheAnnouncementonClarifyingtheAdditionalValue-addedTaxCreditPolicyfortheAdvancedManufacturingEnterprises(CaiShui[2023]No.43)jointlyissuedbytheMinistryofFinanceandtheStateTaxationAdministration,theCompany,asanadvancedmanufacturingenterprise,fromJanuary1,2023toDecember31,2027,theCompanywilladd5%ofthedeductibleinputtaxforthecurrentperiodtooffsettheVATpayable.

5	Notestotheconsolidatedfinancialstatements

(1)

(1)	Cashatbankandonhand

30June2025

31December2024

Cashatbank

Cashatbank	10,420,513,196	11,067,571,593
Cashatfinancecompany(a)(Note8(6))	1,360,490,633	1,407,604,416
Othercashandcashequivalents(b)	8,856,058	18,692,687
Interestreceivable	50,590,361	52,427,194
	11,840,450,248	12,546,295,890

(a)

Asat30June2025,thegroup'sbankdepositwithJianglingAutomobileGroupFinanceCo,Ltd.wasRMB1,360,490,633.TheGroup'sbankdepositsplacedwithJianglingMotorGroupFinanceCompanyLimited(“JMCF”)bearinterestatthebank'sannualinterestrateof0.85%-1.55%(31December2024:1.35%-2.25%)onRMBdepositsforthesameperiod.JMCF,aholdingsubsidiaryofJianglingMotorsGroupCo.,Ltd(“JMCG”),isanon-bankingfinancialinstitution.JMCGholds50%equitycapitalofNanchangJianglingInvestmentCo.,Ltd.(“JIC”),amainshareholderoftheCompany.

(b)

(b)	OthercashandcashequivalentsofRMB8,856,058(31December2024：18,692,687)werethefrozenfundsoftheGroup'slitigation.

(2)

(2)	Derivativefinancialassets

30June2025

31December2024

Derivativefinancialassets-

Derivativefinancialassets-
Forwardexchangecontracts	4,568,083		12,612,380

5	Notestotheconsolidatedfinancialstatements(Cont’d)

(3)

(3)	Notesreceivable

30June2025

31December2024

Tradeacceptancenotes

Tradeacceptancenotes	570,399	226,932
Less:Provisionforbaddebts	(86)	(67)
	570,313	226,865

(a)

(a)	Asat30June2025,therewerenonotesreceivablepledged.

(b)

(b)	Provisionforbaddebts

Fornotesreceivablearisingfromsalesofgoodsandrenderingofservicesintheordinarycourseofoperatingactivities,theGroupmeasuresthelossprovisionbasedonthelifetimeECLregardlessofwhetherthereisasignificantfinancingcomponent.

Theprovisionforbaddebtsofnotesreceivableisanalysedbycategoryasfollows:

30June2025

30June2025
Bookbalance		Provisionforbaddebts
Amount	%oftotalbalance	Amount	Provisionratio

Provisionforbaddebtsonthegroupingbasis(i)

570,399

100%

0.02%

31December2024

31December2024
Bookbalance		Provisionforbaddebts
Amount	%oftotalbalance	Amount	Provisionratio

Provisionforbaddebtsonthegroupingbasis(i)

226,932

100%

0.03%

(i)

(i)	Notesreceivableforwhichtheprovisionforbaddebtsisprovidedonthegroupingbasisareanalysedasfollows:
	Grouping-Tradeacceptancenotes:Asat30June2025,theGroup’sprovisionforbaddebtsfortradeacceptancenotesofthegroupingwasmeasuredbasedonthelifetimeECL,andtherelatedamountwasRMB86(31December2024:RMB67),ofwhichRMB19wasaccruedAsat30June2025.

(ii)

(ii)	Therewasnoprovisionforbaddebtsactuallywrittenoffduringtheperiod.

JIANGLINGMOTORSCORPORATION,LTD.NOTESTOTHEFINANCIALSTATEMENTSFORTHESIXMONTHSENDED30June2025

(AllamountsinRMBYuanunlessotherwisestated)[Englishtranslationforreferenceonly]

5	Notestotheconsolidatedfinancialstatements(Cont’d)

(4)

(4)	Accountsreceivable

30June2025

31December2024

Accountsreceivable

Accountsreceivable	5,806,454,271	4,299,293,681
Less:Provisionforbaddebts	(120,596,556)	(118,285,447)
	5,685,857,715	4,181,008,234

(a)

(a)	Theagingofaccountsreceivablewasanalysedasfollows:

30June2025

31December2024

Within1year

Within1year	5,674,116,013	4,168,893,653
1to2years	5,821,338	1,812,248
Over2years	126,516,920	128,587,780
	5,806,454,271	4,299,293,681

Asat30June2025,accountsreceivablewithindividuallysignificantamountsandagedoverthreeyearswereanalyzedasfollows:

Balance

Reasonsandriskofcollection

Company1

66,796,993

Asthedebtorhaddifficultiesinoperationandwasinvolvedinseverallawsuits,theGroupconsideredthatthereceivablewasdifficulttoberecoveredandthereforeaprovisionforbaddebtshadbeenmadeinfull.

Company2

37,924,214

TheGroupconsideredthatthenewenergysubsidyamountwasdifficulttoberecoveredfromrelevantsubsidydistributiondepartmentsoveralongperiodoftimeandthereforeaprovisionforbaddebtshadbeenmadeinfull.

Company3

13,874,400

Duetothecashflowarrangementofthedebtor,theaccountsreceivablehadalongaging,butthedebtorhasagoodhistoricalcollectionsituationandstillhasnormalbusinessdealingswiththeGroup,andtheGroupconsideredthatthereceivableswerelikelytoberecovered,soaprovisionforbaddebtswasmadeinthegrouping-salesofgeneralautomobiles.

JIANGLINGMOTORSCORPORATION,LTD.NOTESTOTHEFINANCIALSTATEMENTSFORTHESIXMONTHSENDED30June2025

(AllamountsinRMBYuanunlessotherwisestated)[Englishtranslationforreferenceonly]

5	Notestotheconsolidatedfinancialstatements(Cont’d)

(4)

(4)	Accountsreceivable(Cont’d)

(b)

(b)	Asat30June2025,thetopfiveaccountsreceivablerankedbythebalancesofthedebtorsareanalysedasfollows:

Balance

	Balance		Amountofprovisionforbaddebts		%oftotalbalance
Thetotalaccountsreceivableofthetopfivebalances	4,398,524,799		75,277,591		75.75%

(c)

(c)	Provisionforbaddebts

Foraccountsreceivable,theGroupmeasuresthelossprovisionbasedonthelifetimeECLregardlessofwhetherthereisasignificantfinancingcomponent.

Foraccountsreceivable,theGroupmeasuresthelossprovisionbasedonthelifetimeECLregardlessofwhetherthereisasignificantfinancingcomponent.Theprovisionforbaddebtsofaccountsreceivablewasanalysedbycategoryasfollows:

Theprovisionforbaddebtsofaccountsreceivablewasanalysedbycategoryasfollows:

30June2025

30June2025
Bookbalance		Provisionforbaddebts
Amount	%oftotalbalance	Amount	Provisionratio

Provisionforbaddebtsontheindividualbasis(i)

Provisionforbaddebtsontheindividualbasis(i)	104,721,207	2%	104,721,207	100.00%
Provisionforbaddebtsonthegroupingbasis(ii)	5,701,733,064	98%	15,875,349	0.28%
	5,806,454,271	100%	120,596,556	2.08%

31December2024

31December2024
Bookbalance		Provisionforbaddebts
Amount	%oftotalbalance	Amount	Provisionratio

Provisionforbaddebtsontheindividualbasis(i)

Provisionforbaddebtsontheindividualbasis(i)	104,721,207	2%	104,721,207	100.00%
Provisionforbaddebtsonthegroupingbasis(ii)	4,194,572,474	98%	13,564,240	0.32%
	4,299,293,681	100%	118,285,447	2.75%

(i)

(i)	Accountsreceivableforwhichtheprovisionforbaddebtswasprovidedontheindividualbasiswereanalysedfollows:

30June2025

30June2025
Bookbalance	Provisionforbaddebts
Amount	LifetimeECL(%)	Amount

Newenergysubsidies

receivable

Newenergysubsidiesreceivable	37,924,214	100%	37,924,214
Receivablesforautomobiles	66,796,993	100%	66,796,993
	104,721,207		104,721,207

5	Notestotheconsolidatedfinancialstatements(Cont’d)

(4)

(4)	Accountsreceivable(Cont’d)

(c)

(c)	Provisionforbaddebts(Cont’d)

(i)

(i)	Accountsreceivableforwhichtheprovisionforbaddebtsisprovidedontheindividualbasisareanalysedfollows(Cont’d):

31December2024

31December2024
Bookbalance	Provisionforbaddebts
Amount	LifetimeECL(%)	Amount

Newenergysubsidies

receivable

Newenergysubsidiesreceivable	37,924,214	100%	37,924,214
Receivablesforautomobiles	66,796,993	100%	66,796,993
	104,721,207		104,721,207

Asat30June2025,TheGroupassessedtheexpectedcreditlossesontherelatedaccountsreceivable,theGroupconsideredthereceivablescannotbecollected,therefore,fullprovisionwasmadeforthosereceivables.TherelatedamountwasRMB104,721,207(31December2024:RMB104,721,207),noimpactonprofitorlossforthecurrentperiod(thesixmonthsended30June2024:noimpactonprofitorlossforthecurrentperiod).

(ii)	Accountsreceivableforwhichprovisionforbaddebtsismadeonthegroupingbasisareanalysedasfollows:

Grouping-Domesticsalesofgeneralautomobiles:

30June2025

30June2025
Bookbalance	Provisionforbaddebts
Amount	LifetimeECL(%)	Amount

Notoverdue

Notoverdue	1,292,095,722	0.02%	194,061
Overduefor1to30days	23,237,765	0.48%	110,893
Overduefor31to60days	9,348,928	1.19%	111,090
Overduefor61to90days	7,439,342	2.52%	187,831
Overdueover90days	23,969,449	9.00%	2,157,250
	1,356,091,206		2,761,125

5	Notestotheconsolidatedfinancialstatements(Cont’d)

(4)

(4)	Accountsreceivable(Cont’d)

(c)

(c)	Provisionforbaddebts(Cont’d)

(ii)

(ii)	Accountsreceivableforwhichprovisionforbaddebtsismadeonthegroupingbasisareanalysedasfollows(Cont’d):

Grouping-Domesticsalesofgeneralautomobiles:

31December2024

31December2024
Bookbalance	Provisionforbaddebts
Amount	LifetimeECL(%)	Amount

Notoverdue

Notoverdue	812,797,881	0.03%	241,763
Overduefor1to30days	109,449,671	0.55%	600,056
Overduefor31to60days	5,621,317	0.99%	55,441
Overduefor61to90days	4,434,000	2.50%	110,948
Overdueover90days	25,539,010	9.00%	2,298,511
	957,841,879		3,306,719
Grouping-Exportsalesofgeneralautomobiles:

30June2025

30June2025
Bookbalance	Provisionforbaddebts
Amount	LifetimeECL(%)	Amount

Notoverdue

4,085,275,267

0.20%

8,170,551

31December2024

31December2024
Bookbalance	Provisionforbaddebts
Amount	LifetimeECL(%)	Amount

Notoverdue

2,933,133,292

0.20%

5,866,267

Grouping-Salesofnewenergyautomobiles:

30June2025

30June2025
Bookbalance	Provisionforbaddebts
Amount	LifetimeECL(%)	Amount

Overdueover90days

4,122,180

80.00%

3,297,744

31December2024

31December2024
Bookbalance	Provisionforbaddebts
Amount	LifetimeECL(%)	Amount

Overdueover90days

4,123,260

80.00%

3,298,608

5	Notestotheconsolidatedfinancialstatements(Cont’d)

(4)

(4)	Accountsreceivable(Cont’d)

(c)

(c)	Provisionforbaddebts(Cont’d)

(ii)

(ii)	Accountsreceivableforwhichprovisionforbaddebtsismadeonthegroupingbasisareanalysedasfollows(Cont’d):

Grouping–Automobileparts:

30June2025

30June2025
Bookbalance	Provisionforbaddebts
Amount	LifetimeECL(%)	Amount

Notoverdue

Notoverdue	210,521,900	0.30%	631,566
Overduefor1to30days	11,139,819	0.30%	33,419
Overduefor31to60days	11,101,048	0.50%	55,505
Overduefor61to90days	5,650,986	0.60%	33,906
Overdueover90days	17,830,658	5.00%	891,533
	256,244,411		1,645,929

31December2024

31December2024
Bookbalance	Provisionforbaddebts
Amount	LifetimeECL(%)	Amount

Notoverdue

Notoverdue	270,418,629	0.30%	811,256
Overduefor1to30days	10,276,006	0.30%	30,828
Overduefor31to60days	9,423,011	0.50%	47,115
Overduefor61to90days	6,008,481	0.60%	36,051
Overdueover90days	3,347,916	5.00%	167,396
	299,474,043		1,092,646

(iii)

TheaccruedamountofprovisionforbaddebtsfortheperiodwasRMB2,311,109.

(d)

(d)	Therewasnoprovisionforbaddebtsactuallywrittenoffduringtheperiod.

(e)

(e)	Asat30June2025and31December2024,therewerenoaccountsreceivablepledged.

JIANGLINGMOTORSCORPORATION,LTD.NOTESTOTHEFINANCIALSTATEMENTSFORTHESIXMONTHSENDED30June2025

(AllamountsinRMBYuanunlessotherwisestated)[Englishtranslationforreferenceonly]

5	Notestotheconsolidatedfinancialstatements(Cont’d)

(5)

(5)	Financingreceivables

30June2025

31December2024

Bankacceptancenotes

310,302,211

302,065,502

TheGroupconsiderstheneedforitsdailyfundmanagementtodiscountandendorseaportionofbankacceptancebills,andthebusinessmodelformanagingthesebillsaimsbothatreceivingcontractualcashflowsandatsellingthem;therefore,allbankacceptancebillsoftheGroupareclassifiedasfinancialassetsmeasuredatfairvaluewithchangesrecognizedinothercomprehensiveincome.Forthesixmonthsended30June2025,theGroupendorsedanddiscountedbankacceptancenotes,andalmostallrisksandrewardsofownershiphavebeentransferredtootherparties,accordingly,thecarryingamountsofbankacceptancenotesthatwerederecognisedbytheGroupwereRMB524,875,268andRMB3,232,573,819(31December2024:RMB1,098,017,761andRMB2,029,290,040)respectively,andtherelatedlossesondiscountofRMB234,105(forthesixmonthsended30June2024:Nil)wereincludedininvestmentincome(Note5(50)).

Asat30June2025and31December2024,asthecreditriskcharacteristicsofthesebankacceptancenotesweresimilar,noprovisionforimpairmentwasmadeindividually.Inaddition,theGroupconsideredthatitsbankacceptancenoteswerenotexposedtosignificantcreditriskandtheprobabilityofdefaultofthesebankswasverylow.Asat30June2025and31December2024,theGrouphadnopledgedbankacceptancenotesreceivablepresentedinfinancingreceivables.

Asat30June2025and31December2024,theGrouphadnopledgedbankacceptancenotesreceivablepresentedinfinancingreceivables.Asat30June2025,theGroup'sbankacceptancenoteshadbeenendorsedordiscountedbutnotyetmaturedwereRMB3,564,724,876whichhadbeenderecognised.

Asat30June2025,theGroup'sbankacceptancenoteshadbeenendorsedordiscountedbutnotyetmaturedwereRMB3,564,724,876whichhadbeenderecognised.Therewasnosignificantwrite-offsoffinancingreceivablesfortheGroupAsat30June2025(thesixmonthsended30June2024：Nil).

JIANGLINGMOTORSCORPORATION,LTD.NOTESTOTHEFINANCIALSTATEMENTSFORTHESIXMONTHSENDED30June2025

(AllamountsinRMBYuanunlessotherwisestated)[Englishtranslationforreferenceonly]

5	Notestotheconsolidatedfinancialstatements(Cont’d)

(6)

(6)	Advancestosuppliers

(a)

(a)	Theagingofadvancestosuppliersisanalysedasfollows:

30June2025

30June2025				31December2024
Amount		%oftotalbalance		Amount		%oftotalbalance

Within1year

Within1year	42,564,557	93%	90,702,706	96%
Over1year	3,002,660	7%	4,046,466	4%
	45,567,217	100%	94,749,172	100%

(b)

(b)	Asat30June2025,thetopfiveadvancestosuppliersbythebalancesofthedebtorsareanalysedasfollows:

Amount

%oftotalbalance

Totalprepaymentsofthetopfivebalances

45,556,195

99.98%

(8)

(8)	Otherreceivables

30June2025

31December2024

Gasandelectricitybills

Gasandelectricitybills	8,799,782	18,531,901
Guarantees	6,426,024	7,604,290
Importworkingcapital	5,000,000	3,900,523
Platformutilizationfee	4,788,230	5,525,739
BillsforR&Dprojects	3,952,445	4,723,933
Salesservicefee	3,156,146	-
Stockrepurchasesecuritiesfunds	1,099,623	-
Receivablesfromrefundofsocialinsurance	-	1,297,367
Others	22,896,531	12,690,526
	56,118,781	54,274,279
Less:Provisionforbaddebts	(289,096)	(261,039)
	55,829,685	54,013,240

TheGroupdidnothaveanyfunddepositedatotherpartiesunderthecentralisedfundmanagementandrepresentedinotherreceivables.

TheGroupdidnothaveanyfunddepositedatotherpartiesunderthecentralisedfundmanagementandrepresentedinotherreceivables.(a)

(a)	Theagingofotherreceivablesisanalysedasfollows:

30June2025

31December2024

Within1year

Within1year	49,911,898	49,055,878
Over1year	6,206,883	5,218,401
	56,118,781	54,274,279

JIANGLINGMOTORSCORPORATION,LTD.NOTESTOTHEFINANCIALSTATEMENTSFORTHESIXMONTHSENDED30June2025

(AllamountsinRMBYuanunlessotherwisestated)[Englishtranslationforreferenceonly]

5	Notestotheconsolidatedfinancialstatements(Cont’d)

(7)

(7)	Otherreceivables(Cont’d)

(b)

(b)	Provisionforlossesandchangesinbookbalancestatements:

Theprovisionforbaddebtsofotherreceivablesisanalysedbycategoryasfollows:

30June2025

30June2025
Bookbalance		Provisionforbaddebts
Amount	%oftotalbalance	Amount	Provisionratio

Provisionforbaddebtsontheindividualbasis

Provisionforbaddebtsontheindividualbasis	1,099,623	2%	-	-
Provisionforbaddebtsonthegroupingbasis	55,019,158	98%	289,096	0.53%
	56,118,781	100%	289,096	0.52%

31December2024

31December2024
Bookbalance		Provisionforbaddebts
Amount	%oftotalbalance	Amount	Provisionratio

ProvisionforbaddebtsontheIndividualbasis

ProvisionforbaddebtsontheIndividualbasis	1,297,367	2%	-	-
Provisionforbaddebtsonthegroupingbasis	52,976,912	98%	261,039	0.49%
	54,274,279	100%	261,039	0.48%

Stage1

Stage1
12-monthECL(grouping)		12-monthECL(individual)		Total
Bookbalance	Provisionforbaddebts	Bookbalance	Provisionforbaddebts	Provisionforbaddebts

31December2024

31December2024	52,976,912	261,039	1,297,367	-	261,039
Decreaseinthecurrentperiod	-	-	(197,744)	-	-
Increaseinthecurrentperiod	2,042,246	-	-	-	-
Provisionforbaddebtsaccruedduringtheperiod	-	28,057	-	-	28,057
30June2025	55,019,158	289,096	1,099,623	-	289,096

Asat30June2025and31December2024,theGrouphadnootherreceivablesatStage2andStage3.TheanalysisofotherreceivablesatStage1wasstatedbelow:

(i)

(i)	Asat30June2025,theGroup’sotherreceivableswithprovisionforbaddebtswereanalysedbelow:

JIANGLINGMOTORSCORPORATION,LTD.NOTESTOTHEFINANCIALSTATEMENTSFORTHESIXMONTHSENDED30June2025

(AllamountsinRMBYuanunlessotherwisestated)[Englishtranslationforreferenceonly]

5	Notestotheconsolidatedfinancialstatements(Cont’d)

(7)

(7)	Otherreceivables(Cont’d)

(b)

(b)	Provisionforlossesandchangesinbookbalancestatements(Cont’d):

Bookbalance

12-monthECLrates

Provisionforbaddebts

Reason

Provisionontheindividualbasis:

Provisionontheindividualbasis:
Stockrepurchasesecuritiesfundsi)	1,099,623	-	-	ECL
Provisiononthegroupingbasis:
Gasandelectricitybills	8,799,782	0.53%	46,238	ECL
Guarantees	6,426,024	0.53%	33,765	ECL
Importworkingcapital	5,000,000	0.53%	26,272	ECL
Platformutilizationfee	4,788,230	0.53%	25,160	ECL
BillsforR&Dprojects	3,952,445	0.53%	20,768	ECL
Salesservicefee	3,156,146	0.53%	16,584	ECL
Others	22,896,531	0.53%	120,309	ECL
	56,118,781		289,096

i)TheGroupassessedtheStockrepurchasesecuritiesfundsindividuallyandbasedonthejudgmentofcreditrisk,thereceivableswerenotsubjecttosignificantcreditriskandwerenotoverdueandimpaired.

i)TheGroupassessedtheStockrepurchasesecuritiesfundsindividuallyandbasedonthejudgmentofcreditrisk,thereceivableswerenotsubjecttosignificantcreditriskandwerenotoverdueandimpaired.(i)

(i)	Asat31December2024,theGroup’sotherreceivableswithprovisionforbaddebtsonthegroupingbasisareanalysedasfollows:

Bookbalance

12-monthECLrates

Provisionforbaddebts

Reason

Provisionontheindividualbasis:

Provisionontheindividualbasis:
Receivablesfromrefundofsocialinsurancei)	1,297,367	-	-	ECL
Provisiononthegroupingbasis:
Gasandelectricitybills	18,531,901	0.49%	91,314	ECL
Guarantees	7,604,290	0.49%	37,469	ECL
Platformutilizationfee	5,525,739	0.49%	27,228	ECL
BillsforR&Dprojects	4,723,933	0.49%	23,277	ECL
Importworkingcapital	3,900,523	0.49%	19,219	ECL
Others	12,690,526	0.49%	62,532	ECL
	54,274,279		261,039

(c)

(c)	Asat30June2025,theGroupaccruedtheprovisionforbaddebtsamountingtoRMB28,057.

(d)

(d)	Therewasnoprovisionforbaddebtsactuallywrittenoffduringtheperiod.

(e)

(e)	Asat30June2025,thetopfiveotherreceivablesbythebalancesofthedebtorsarelistedasfollows:
		Nature		Balance		Aging		%oftotalbalance		Provisionforbaddebts

Company1

Company1	Gasbills	8,799,782	within1year	16%	46,238
Company2	ImportworkingCapital,etc.	7,754,132	within1year	14%	40,744
Company3	Platformutilizationfee	4,788,230	within1year	9%	25,160
Company4	Salesservicefee	3,156,146	within1year	6%	16,584
Company5	Claimforcompensation	2,166,155	within1year	4%	11,382
		26,664,445		49%	140,108

5	Notestotheconsolidatedfinancialstatements(Cont’d)

(8)

(8)	Inventories

(a)

(a)	Inventoriesweresummarisedbycategoryasfollows:

30June2025

30June2025						31December2024
Bookbalance		Provisionfordeclineinthevalueofinventories		Carryingamount		Bookbalance		Provisionfordeclineinthevalueofinventories		Carryingamount

Rawmaterials

Rawmaterials	1,159,931,052	87,208,653	1,072,722,399	1,297,887,283	89,113,586	1,208,773,697
Finishedgoods	204,694,453	1,812,453	202,882,000	416,054,999	9,124,198	406,930,801
Workinprogress	162,929,070	282,318	162,646,752	208,385,421	282,318	208,103,103
Lowvalueconsumables	69,190,012	741,914	68,448,098	74,927,505	8,943,729	65,983,776
Materialsintransit	64,213,199	-	64,213,199	85,555,538	-	85,555,538
Materialsconsignedforprocessing	19,274,152	-	19,274,152	79,170,327	-	79,170,327
	1,680,231,938	90,045,338	1,590,186,600	2,161,981,073	107,463,831	2,054,517,242

(b)

(b)	Provisionfordeclineinthevalueofinventorieswasanalysedasfollows:

31December2024

31December2024		Increaseinthecurrentperiod		Decreaseinthecurrentperiod				30June2025
31December2024		Provision		Reversal		Write-off		30June2025

Rawmaterials

Rawmaterials	89,113,586	-	-	(1,904,933)	87,208,653
Finishedgoods	9,124,198	-	-	(7,311,745)	1,812,453
Lowvalueconsumables	8,943,729	-	（42,736)	(8,159,079)	741,914
Workinprogress	282,318	-	-	-	282,318
	107,463,831	-	（42,736)	(17,375,757)	90,045,338

5	Notestotheconsolidatedfinancialstatements(Cont’d)

(8)

(8)	Inventories(Cont’d)

(c)

(c)	Provisionfordeclineinthevalueofinventorieswasanalysedasfollows:

TheGroupuseswhetherthecostishigherthanthenetrealizablevalueasthebasisfortheprovisionforinventorydecline.Netrealizablevalueisdeterminedbytheestimatedsellingpriceoftheinventory,lesstheestimatedcoststobeincurredatcompletion,estimatedcontractperformancecostsandsellingexpenses,andrelatedtaxes.Thereasonforthereversalorresaleoftheprovisionforinventorydeclineinthecurrentperiodistheincreaseinthenetrealizablevalueoftheinventoryforwhichtheprovisionforinventorydeclinehasbeenmadeinpreviousperiodsorthesalesrealizedinthecurrentperiod.

(9)	Othercurrentassets

30June2025

31December2024

Taxesprepaid,inputVATtobedeductedandtobeverified

Taxesprepaid,inputVATtobedeductedandtobeverified	1,177,906,926	1,200,018,920
Others	36,171,200	28,354,057
	1,214,078,126	1,228,372,977

(10)

(10)	Currentportionofnon-currentassets

30June2025

31December2024

Currentportionoflong-termreceivables(Note5(11))

16,089,107

20,784,738

(11)

(11)	Long-termreceivables

30June2025

31December2024

Long-termreceivables

Long-termreceivables	34,918,655	41,474,312
Less:Unearnedfinancingincome	(1,383,690)	(2,053,465)
Provisionforbaddebts	(58,643)	(102,201)
Currentportionoflong-termreceivables(Note5(10))	(16,089,107)	(20,784,738)
	17,387,215	18,533,908

Asat30June2025,theGroup'slong-termreceivableswereformedbyinstalmentreceiptsfromdisposaloffixedassetsandinstalmentsales,etc.,andthepaymentswillberecoveredfrom2025to2029.

JIANGLINGMOTORSCORPORATION,LTD.NOTESTOTHEFINANCIALSTATEMENTSFORTHESIXMONTHSENDED30June2025

(AllamountsinRMBYuanunlessotherwisestated)[Englishtranslationforreferenceonly]

5	Notestotheconsolidatedfinancialstatements(Cont’d)

(12)

(12)	Long-termequityinvestments

30June2025

31December2024

Associates

Associates
-ShanxiYunneiPowerCo.,Ltd.(“ThePowerCompany”)	182,325,974	194,393,246
-HanonSystems(Nanchang)Co.,Ltd.(“HanonSystems”)	27,168,732	24,904,785

Less:Provisionforimpairmentoflong-termequityinvestments

Less:Provisionforimpairmentoflong-termequityinvestments	-		-
	209,494,706		219,298,031

Associates

AssociatesMovementsforthecurrentperiod

Movementsforthecurrentperiod

Impairmentprovision

31December2024

Increase/Decreaseininvestment

Shareofnetprofit/(loss)underequitymethod

Cashdividendsdeclared

Provisionforimpairment

30June2025

Shareholding(%)

Votingrights(%)

30June2025

31December2024

ThePowerCompany

ThePowerCompany	194,393,246	-	(12,067,272)	-	-	182,325,974	40%	40%	-	-
HanonSystems	24,904,785	-	2,263,947	-	-	27,168,732	19.15%	33.33%	-	-
Total	219,298,031	-	(9,803,325)	-	-	209,494,706			-	-

RelatedinformationofequityinassociatesissetforthinNote6(2).

JIANGLINGMOTORSCORPORATION,LTD.NOTESTOTHEFINANCIALSTATEMENTSFORTHESIXMONTHSENDED30June2025

(AllamountsinRMBYuanunlessotherwisestated)[Englishtranslationforreferenceonly]

5	Notestotheconsolidatedfinancialstatements(Cont’d)

(13)

(13)	Fixedassets

30June2025

31December2024

Fixedassets(a)

Fixedassets(a)	5,972,042,966	5,749,363,332
Fixedassetspendingfordisposal(b)	102,888	110,673
	5,972,145,854	5,749,474,005

(a)

(a)	Fixedassets

Buildings

Machineryandequipment

Vehicles

Moulds

Electronicandotherequipment

Total

Cost

Cost
31December2024	2,367,665,155	3,233,162,193	1,000,446,605	4,420,796,705	4,447,547,715	15,469,618,373
Increaseinthecurrentperiod
Transfersfromconstructioninprogress	1,401,975	386,951	287,199,046	424,121,056	125,601,584	838,710,612
Decreaseinthecurrentperiod
Disposalorretirement	(2,648,470)	(238,891,707)	(26,909,471)	(66,384,345)	(166,118,002)	(500,951,995)
Others	-	(7,579,508)	-	-	(61,725,722)	(69,305,230)
30June2025	2,366,418,660	2,987,077,929	1,260,736,180	4,778,533,416	4,345,305,575	15,738,071,760

Accumulated

depreciation

Accumulateddepreciation
31December2024	528,036,598	2,057,309,021	389,467,170	2,945,591,662	3,171,243,383	9,091,647,834
Increaseinthecurrentperiod
Provision	26,438,806	87,688,561	75,453,217	203,689,658	159,559,544	552,829,786
Decreaseinthecurrentperiod
Disposalorretirement	(1,386,199)	(220,620,354)	(20,921,987)	(59,043,618)	(153,879,527)	(455,851,685)
Others	-	(714,358)	-	-	(22,162,635)	(22,876,993)
30June2025	553,089,205	1,923,662,870	443,998,400	3,090,237,702	3,154,760,765	9,165,748,942

Provisionfor

impairment

Provisionforimpairment
31December2024	172,020,613	39,433,710	6,937,087	350,150,126	60,065,671	628,607,207
Increaseinthecurrentperiod
Provision	-	-	-	-	-	-
Decreaseinthecurrentperiod
Disposalorretirement	-	(12,391,459)	(778,693)	(7,254,855)	(7,902,348)	(28,327,355)
30June2025	172,020,613	27,042,251	6,158,394	342,895,271	52,163,323	600,279,852

Carryingamount

Carryingamount
30June2025	1,641,308,842	1,036,372,808	810,579,386	1,345,400,443	1,138,381,487	5,972,042,966
31December2024	1,667,607,944	1,136,419,462	604,042,348	1,125,054,917	1,216,238,661	5,749,363,332

Asat30June2025,depreciationchargedtofixedassetsamountedtoRMB552,829,786(thesixmonthsended30June2024：RMB485,221,314),ofwhichthedepreciationexpenseschargedinthecostofsales,sellinganddistributionexpenses,generalandadministrativeexpensesandresearchanddevelopmentexpenseswereRMB492,673,591,RMB2,314,697,RMB26,170,440andRMB31,671,058(thesixmonthsended30June2024：

RMB413,536,440,RMB3,897,033,RMB29,315,200andRMB38,472,641),respectively.

RMB413,536,440,RMB3,897,033,RMB29,315,200andRMB38,472,641),respectively.ThecostsoffixedassetstransferredfromconstructioninprogressamountedtoRMB838,710,612(thesixmonthsended30June2024：RMB574,864,185).

JIANGLINGMOTORSCORPORATION,LTD.NOTESTOTHEFINANCIALSTATEMENTSFORTHESIXMONTHSENDED30June2025

(AllamountsinRMBYuanunlessotherwisestated)[Englishtranslationforreferenceonly]

5	Notestotheconsolidatedfinancialstatements(Cont’d)

(13)

(13)	Fixedassets(Cont’d)

(a)

(a)	Fixedassets(Cont’d)

(i)

(i)	Temporarilyidlefixedassets

Asat30June2025,thefixedassetswithacarryingamountofapproximatelyRMB157,121,026(acostofRMB1,277,164,465)(31December2024:acarryingamountofapproximatelyRMB166,048,112andacostofRMB1,419,765,179)wereidleduetotheterminationoftheequitytransfertransactionofJMCHandthechangeofproductprocessoftheGroup.Theanalysiswasasfollows:

Cost

Accumulateddepreciation

Provisionforimpairment

Carryingamount

Buildings

Buildings	409,162,422	112,097,962	172,020,613	125,043,847
Machineryandequipment	126,045,578	85,951,059	26,148,468	13,946,051
Vehicles	57,471,069	48,932,313	6,029,518	2,509,238
Moulds	428,029,716	111,902,446	315,977,900	149,370
Electronicandotherequipment	256,455,680	196,266,408	44,716,752	15,472,520
	1,277,164,465	555,150,188	564,893,251	157,121,026

(ii)

(ii)	Operatingleaseoffixedassets:
	Asat30June2025,theCostwasRMB790,120,592,theaccumulateddepreciationwasRMB95,879,504,andthecarryingamountattheendoftheperiodwasRMB694,241,088.

(ii)

(ii)	Fixedassetswithpendingcertificatesofownership:

Carryingamount

Reasonfornotobtainingcertificatesofownership

Buildings

8,681,792

Pendingprocedures

(b)

(b)	Fixedassetspendingfordisposal

30June2025

31December2024

Electronicandotherequipment

Electronicandotherequipment	85,891	85,891
Machineryandequipment	16,997	24,782
	102,888	110,673

5	Notestotheconsolidatedfinancialstatements(Cont’d)

(14)

(14)	Constructioninprogress

30June2025

	30June2025			31December2024
	Bookbalance	Provisionforimpairment	Carryingamount	Bookbalance	Provisionforimpairment	Carryingamount
Projectsforpassengervehicles	182,738,290	4,460,314	178,277,976	134,553,481	4,460,314	130,093,167
Projectsforcommercialvehicles	152,406,753	1,284,000	151,122,753	364,639,322	1,284,000	363,355,322
Projectsforautomobilepartsfactory	70,892,849	-	70,892,849	64,627,414	-	64,627,414
Projectsforautomobilesfactory	4,560,522	-	4,560,522	5,625,803	-	5,625,803
Others	97,557,499	691,646	96,865,853	98,901,720	691,646	98,210,074
	508,155,913	6,435,960	501,719,953	668,347,740	6,435,960	661,911,780

JIANGLINGMOTORSCORPORATION,LTD.NOTESTOTHEFINANCIALSTATEMENTSFORTHESIXMONTHSENDED30June2025

(AllamountsinRMBYuanunlessotherwisestated)[Englishtranslationforreferenceonly]

5	Notestotheconsolidatedfinancialstatements(Cont’d)

(14)

(14)	Constructioninprogress(Cont’d)

(a)

(a)	Movementofsignificantprojectsofconstructioninprogress

Projectname

Budget(InRMB0’000)

31December2024

Increaseinthecurrentperiod

Transfertofixedassetsinthecurrentperiod

Transfertointangibleassetsinthecurrentperiod

30June2025

%ofprojectinvestmentinbudget

Progressofproject

Accumulativecapitalisedborrowingcosts

Including:Borrowingcostscapitalisedinthecurrentperiod

Sourceoffund

Projectsforpassengervehicles

Projectsforpassengervehicles	85,572	134,553,481	117,603,562	(69,418,753)	-	182,738,290	65%	65%	-	-	Self-ownedfunds
Projectsforcommercialvehicles	273,349	364,639,322	256,334,290	(468,566,859)	-	152,406,753	74%	74%	-	-	Self-ownedfunds
Projectsforautomobilesfactory	50,023	5,625,803	187,078	(1,252,359)	-	4,560,522	75%	75%	-	-	Self-ownedfunds
Projectsforautomobilepartsfactory	14,752	64,627,414	15,675,692	(9,410,257)	-	70,892,849	58%	58%	-	-	Self-ownedfunds
Others		98,901,720	296,065,063	(290,062,384)	(7,346,900)	97,557,499			292,897	-	Self-ownedfundsandborrowings
		668,347,740	685,865,685	(838,710,612)	(7,346,900)	508,155,913			292,897	-

(b)

(b)	Provisionforimpairmentofconstructioninprogress

31December2024

Increaseinthecurrentperiod

Decreaseinthecurrentperiod

30June2025

Reasonforprovision

Projectsforcommercialvehicles

Projectsforcommercialvehicles	1,284,000	-	-	1,284,000	Therecoverableamountislowerthanthecarryingamount
Projectsforpassengervehicles	4,460,314	-	-	4,460,314	Therecoverableamountislowerthanthecarryingamount
Others	691,646	-	-	691,646	Therecoverableamountislowerthanthecarryingamount
	6,435,960	-	-	6,435,960

JIANGLINGMOTORSCORPORATION,LTD.NOTESTOTHEFINANCIALSTATEMENTSFORTHESIXMONTHSENDED30June2025

(AllamountsinRMBYuanunlessotherwisestated)[Englishtranslationforreferenceonly]

5	Notestotheconsolidatedfinancialstatements(Cont’d)

(15)

(15)	Right-of-useassets

Buildings

BuildingsCost

Cost
31December2024		375,793,465
Increaseinthecurrentperiod
Newleasecontracts		117,970
Decreaseinthecurrentperiod
Expirationofleasecontract		(136,110)
30June2025		375,775,325

Accumulateddepreciation

Accumulateddepreciation
31December2024		217,307,777
Increaseinthecurrentperiod
Provision		40,592,333
Decreaseinthecurrentperiod
Expirationofleasecontract		(136,110)
30June2025		257,764,000

Provisionforimpairment

Provisionforimpairment
31December2024		-
Increaseinthecurrentperiod		-
Decreaseinthecurrentperiod		-
30June2025		-

Carryingamount

Carryingamount
30June2025		118,011,325
31December2024		158,485,688

JIANGLINGMOTORSCORPORATION,LTD.NOTESTOTHEFINANCIALSTATEMENTSFORTHESIXMONTHSENDED30June2025

(AllamountsinRMBYuanunlessotherwisestated)[Englishtranslationforreferenceonly]

5	Notestotheconsolidatedfinancialstatements(Cont’d)

(16)

(16)	Intangibleassets

Landuserights

Softwareusefees

Non-patenttechnologies

Others

Total

Cost

Cost
31December2024	625,299,326	446,450,261	2,320,595,061	38,578,700	3,430,923,348
Increaseinthecurrentperiod
Transfersfromconstructioninprogress	-	7,346,900	-	-	7,346,900
Internalresearchanddevelopment	-	-	167,668,180	-	167,668,180
Decreaseinthecurrentperiod
Disposal	(2,369,411)	(782,409)	-	-	(3,151,820)
30June2025	622,929,915	453,014,752	2,488,263,241	38,578,700	3,602,786,608

Accumulatedamortisation

Accumulatedamortisation
31December2024	164,471,284	285,873,146	1,078,128,739	38,578,700	1,567,051,869
Increaseinthecurrentperiod
Provision	6,568,314	27,601,062	197,243,548	-	231,412,924
Decreaseinthecurrentperiod
Disposal	(1,302,714)	(782,409)	-	-	(2,085,123)
30June2025	169,736,884	312,691,799	1,275,372,287	38,578,700	1,796,379,670

Provisionfor

impairment

Provisionforimpairment
31December2024	-	-	52,416,626	-	52,416,626
Increaseinthecurrentperiod
Provision	-	-	-	-	-
30June2025	-	-	52,416,626	-	52,416,626

Carryingamount

Carryingamount
30June2025	453,193,031	140,322,953	1,160,474,328	-	1,753,990,312
31December2024	460,828,042	160,577,115	1,190,049,696	-	1,811,454,853

Asat30June2025,theintangibleassetsdevelopedbytheGroupaccountedfor62%(31December2024:61%)ofthecarryingamountofintangibleassets.

JIANGLINGMOTORSCORPORATION,LTD.NOTESTOTHEFINANCIALSTATEMENTSFORTHESIXMONTHSENDED30June2025

(AllamountsinRMBYuanunlessotherwisestated)[Englishtranslationforreferenceonly]

5	Notestotheconsolidatedfinancialstatements(Cont’d)

(17)

(17)	Expenditureonresearchanddevelopment

TheGroup'stotalexpenditureonresearchanddevelopmentactivitiesAsat30June2025and2024ispresentedbynatureasfollows:

Sixmonthsended30June

Sixmonthsended30June
2025		2024

Employeebenefits

Employeebenefits	449,540,890	371,085,867
Designfee	121,218,012	195,801,929
Consumedmaterials	77,767,929	95,215,493
Depreciationandamortisation	37,108,953	42,867,809
Others	99,655,450	97,106,716
	785,291,234	802,077,814

Whereinexpenditureonresearchanddevelopmentontheresearchphase(Note5(45))

652,925,801

617,237,727

(a)

(a)	ThechangesintheGroup'sdevelopmentexpenditureseligibleforcapitalisationAsat30June2025isanalysedasfollows:

31December

2024

31December2024

Increaseinthecurrentperiod

Transfertointangibleassetsinthecurrentperiod

30June2025

Projectsforpassengervehicles

Projectsforpassengervehicles	27,277,985	93,171,433	-	120,449,418
Projectsforcommercialvehicles	160,825,445	39,194,000	167,668,180	32,351,265
	188,103,430	132,365,433	167,668,180	152,800,683

ThecapitalizationofthevehicleprojectstartedwhentheproductwasreadyandtheR&Ddatawasfrozen,andithadpassedtheGroup'stechnicalreviewmeeting.Afterthecompletionofthedevelopmentoftheproject,itisexpectedtobereadyformassproductionofvehicleproductswithmarketingcapabilities,withaprogressofapproximately71%asof30June2025,andisexpectedtobecompletedby2025.

5	Notestotheconsolidatedfinancialstatements(Cont’d)

(18)

(18)	Deferredtaxassetsanddeferredtaxliabilities

(a)

(a)	Deferredtaxassetsbeforeoffsetting

30June2025

30June2025			31December2024
Deductibletemporarydifferencesanddeductiblelosses	Deferredtaxassets		Deductibletemporarydifferencesanddeductiblelosses		Deferredtaxassets

Accruedexpensesandprovisions

Accruedexpensesandprovisions	4,693,645,985	1,066,620,321	5,243,226,986	1,202,834,659
Recoverablelosses	3,416,095,086	762,925,165	3,007,086,847	645,511,957
Provisionforassetimpairment	580,297,581	87,610,318	622,528,655	94,016,209
Non-patenttechnology	516,378,804	122,008,757	440,753,948	100,999,156
Leaseliability	102,200,325	20,562,469	179,407,961	27,067,280
Employeeeducationfundsunpaid	50,863,636	8,092,589	53,619,310	8,554,549
Deferredincome	65,769,194	9,865,379	61,202,010	9,180,301
Retirementbenefitsplan	9,573,915	2,107,187	10,153,000	2,194,050
Others	172,388,013	22,437,888	122,815,039	20,274,065
	9,607,212,539	2,102,230,073	9,740,793,756	2,110,632,226

(b)

(b)	Deferredtaxliabilitiesbeforeoffsetting

30June2025

30June2025				31December2024
Taxabletemporarydifferences		Deferredtaxliabilities		Taxabletemporarydifferences		Deferredtaxliabilities

Depreciationoffixedassets

Depreciationoffixedassets	3,277,206,567	703,454,256	3,045,807,585	624,476,184
Right-of-useassets	117,893,355	19,216,896	158,457,332	25,571,835
Equitytransactionsbetweenparentandsubsidiary	187,000,000	28,050,000	166,600,000	24,990,000
Differencesbetweenthefairvalueoftheidentifiablenetassetsandcarryingamountarisingfrombusinesscombinationsinvolvingenterprisesnotundercommoncontrol	73,600,076	18,400,019	74,742,572	18,685,643
Amortisationofintangibleassets	87,867,813	16,790,393	88,274,866	15,312,010
Others	3,649,471	547,421	11,693,768	1,754,065
	3,747,217,282	786,458,985	3,545,576,123	710,789,737

5	Notestotheconsolidatedfinancialstatements(Cont’d)

(18)

(18)	Deferredtaxassetsanddeferredtaxliabilities(Cont’d)

(c)

(c)	Deductibletemporarydifferencesanddeductiblelossesforwhichnodeferredtaxassetwasrecognisedwereanalysedasfollows:

30June2025

31December2024

Deductibletemporarydifferences

Deductibletemporarydifferences	2,592,011,848	2,598,578,425
Deductiblelosses	242,042,829	231,610,985
	2,834,054,677	2,830,189,410

(d)

(d)	Deductiblelossesforwhichnodeferredtaxassetwasrecognisedwillbeexpiredinfollowingyears:

30June2025

31December2024

2025

2025	594,567	594,567
2026	136,794	136,794
2027	109,138,616	109,138,616
2028	80,885,354	80,885,354
2029	40,894,810	40,855,654
2030	10,392,688	-
	242,042,829	231,610,985

(e)

(e)	Thenetbalancesofdeferredtaxassetsanddeferredtaxliabilitiesafteroffsettingwereasfollows:

30June2025

30June2025			31December2024
Offsettingamount	Balanceafteroffsetting		Offsettingamount	Balanceafteroffsetting

Deferredtaxassets

Deferredtaxassets	(566,426,641)	1,535,803,432		(580,487,861)	1,530,144,365
Deferredtaxliabilities	(566,426,641)	220,032,344		(580,487,861)	130,301,876

(19)

(19)	Othernon-currentassets

30June2025

31December2024

Prepaymentformolds

6,386,526

7,860,340

JIANGLINGMOTORSCORPORATION,LTD.NOTESTOTHEFINANCIALSTATEMENTSFORTHESIXMONTHSENDED30June2025

(AllamountsinRMBYuanunlessotherwisestated)[Englishtranslationforreferenceonly]

-56-

5	Notestotheconsolidatedfinancialstatements(Cont’d)

(20)

(20)	Provisionforassetimpairmentandlosses

31December

2024

31December2024		Increaseinthecurrentperiod		Decreaseinthecurrentperiod				30June2025
				Reversal		Write-off/Disposal

Provisionforbaddebtsofnotesreceivable(Note5(3))

Provisionforbaddebtsofnotesreceivable(Note5(3))	67	19	-	-	86
Provisionforbaddebtsofaccountsreceivable(Note5(4))	118,285,447	2,311,109	-	-	120,596,556
Including:Provisionforbaddebtsontheindividualbasis	104,721,207	-	-	-	104,721,207
Provisionforbaddebtsonthegroupingbasis	13,564,240	2,311,109	-	-	15,875,349
Provisionforbaddebtsofotherreceivables(Note5(7))	261,039	28,057	-	-	289,096
Provisionforbaddebtsoflong-termreceivables(Note5(11))	102,201	-	(43,558)	-	58,643
Sub-total	118,648,754	2,339,185	(43,558)	-	120,944,381

Provisionfordeclineinthevalueofinventories(Note5(8))

Provisionfordeclineinthevalueofinventories(Note5(8))	107,463,831	-	(42,736)	(17,375,757)	90,045,338
Provisionforimpairmentoffixedassets(Note5(13))	628,607,207	-	-	(28,327,355)	600,279,852
Provisionforimpairmentofconstructioninprogress(Note5(14))	6,435,960	-	-	-	6,435,960
Provisionforimpairmentofgoodwill(i)	89,028,412	-	-	-	89,028,412
Provisionforimpairmentofintangibleassets(Note5(16))	52,416,626	-	-	-	52,416,626
Sub-total	883,952,036	-	(42,736)	(45,703,112)	838,206,188
	1,002,600,790	2,339,185	(86,294)	(45,703,112)	959,150,569

(i)

(i)	Asat31December2019,theGrouphadmadefullprovisionforimpairmentofgoodwill.

JIANGLINGMOTORSCORPORATION,LTD.NOTESTOTHEFINANCIALSTATEMENTSFORTHESIXMONTHSENDED30June2025

(AllamountsinRMBYuanunlessotherwisestated)[Englishtranslationforreferenceonly]

5	Notestotheconsolidatedfinancialstatements(Cont’d)

(21)

(21)	Short-termborrowings

30June2025

31December2024

Creditloan

1,400,000,000

1,500,000,000

Asat30June2025,theGrouphadnooverdueshort-termborrowingsandtheinterestratesrangedfrom0.5%to0.85%(31December2024:0.55%to0.95%).

Asat30June2025,theGrouphadnooverdueshort-termborrowingsandtheinterestratesrangedfrom0.5%to0.85%(31December2024:0.55%to0.95%).(22)

(22)	Accountspayable

30June2025

31December2024

Payableforautomobileparts

Payableforautomobileparts	9,946,234,021	9,785,507,926
Payableforrawandauxiliarymaterials	330,200,992	275,716,018
	10,276,435,013	10,061,223,944

Asat30June2025,accountspayablewithagingoveroneyearamountedtoRMB195,886,018(31December2024:RMB170,590,008),whichmainlyrepresentedpayablesformaterialsforwhichasettlementpricehadnotyetbeendetermined,andsuchpayableshadnotbeenfinallysettledyet.

5	Notestotheconsolidatedfinancialstatements(Cont’d)

(23)

(23)	Contractliabilities

30June2025

31December2024

Advancesformaintenanceandwarrantyservices,etc.

Advancesformaintenanceandwarrantyservices,etc.	894,196,338	632,287,355
Advancesforautomobilesandautomobileparts	156,872,502	206,210,459
	1,051,068,840	838,497,814
Less:Contractliabilitiescarriedforwardtorevenueafter1year(Note5(34),Note5(41)(c)(i))	(415,521,158)	(370,793,523)
	635,547,682	467,704,291

(24)

(24)	Employeebenefitspayable

30June2025

31December2024

Short-termemployeebenefitspayable(a)

Short-termemployeebenefitspayable(a)	615,939,366	771,878,485
Definedcontributionplanspayable(b)	18,716,337	2,799,913
Definedbenefitplanspayable(c)	3,015,000	3,015,000
Terminationbenefitspayable(d)	1,143,000	2,481,176
	638,813,703	780,174,574

(a)

(a)	Short-termemployeebenefits

31December

2024

31December2024

Increaseinthecurrentperiod

Decreaseinthecurrentperiod

30June2025

Wagesandsalaries,bonus,allowancesandsubsidies

Wagesandsalaries,bonus,allowancesandsubsidies	692,017,542	1,017,543,497	(1,173,988,578)	535,572,461
Staffwelfare	21,071,704	32,981,927	(38,638,307)	15,415,324
Socialsecuritycontributions	812,921	74,730,146	(65,495,192)	10,047,875
Including:Medicalinsurance	729,653	66,384,072	(58,137,714)	8,976,011
Workinjuryinsurance	83,268	8,346,074	(7,357,478)	1,071,864
Housingfunds	492,198	101,007,398	(101,121,179)	378,417
Labourunionfundsandemployeeeducationfunds	57,484,120	23,310,486	(26,269,317)	54,525,289
Othershort-termemployeebenefits	-	3,891,043	(3,891,043)	-
	771,878,485	1,253,464,497	(1,409,403,616)	615,939,366

5	Notestotheconsolidatedfinancialstatements(Cont’d)

(24)

(24)	Employeebenefitspayable(Cont’d)

(b)

(b)	Definedcontributionplans

31December

2024

31December2024

Increaseinthecurrentperiod

Decreaseinthecurrentperiod

30June2025

Basicpensions

Basicpensions	2,698,067	143,857,338	(128,432,540)	18,122,865
Unemploymentinsurance	101,846	4,554,161	(4,062,535)	593,472
	2,799,913	148,411,499	(132,495,075)	18,716,337

(c)

(c)	Definedbenefitplans

31December

2024

31December2024

Increaseinthecurrentperiod

Decreaseinthecurrentperiod

30June2025

Post-retirementbenefitspayable(Note5(33))

3,015,000

1,135,167

(1,135,167)

3,015,000

(d)

(d)	Terminationbenefitspayable

30June2025

31December2024

Earlyretirementbenefitspayable(Note5(33))

Earlyretirementbenefitspayable(Note5(33))	1,143,000	1,143,000
Otherterminationbenefits(i)	-	1,338,176
	1,143,000	2,481,176

(i)

(i)	Asat30June2025,otherterminationbenefitspaidbytheGroupforterminationoftheemploymentrelationshipwereRMB2,458,544(thesixmonthsended30June2024：RMB908,195).

(25)

(25)	Taxespayable

30June2025

31December2024

Consumptiontaxpayable

Consumptiontaxpayable	85,683,878	103,965,331
Landusetaxpayable	4,703,203	4,753,390
UnpaidVAT	2,021,791	117,211,162
Others	35,440,745	39,268,506
	127,849,617	265,198,389

JIANGLINGMOTORSCORPORATION,LTD.NOTESTOTHEFINANCIALSTATEMENTSFORTHESIXMONTHSENDED30June2025

(AllamountsinRMBYuanunlessotherwisestated)[Englishtranslationforreferenceonly]

5	Notestotheconsolidatedfinancialstatements(Cont’d)

(26)

(26)	Otherpayables

30June2025

31December2024

Promotionexpenses

Promotionexpenses	2,574,908,038	2,727,155,425
Researchanddevelopmentprojectexpenses	803,756,032	962,540,747
Ordinarysharedividendspayable	620,436,482	6,463,836
Constructionpayment	393,475,959	466,886,864
Transportationexpenses	221,004,714	256,166,660
Guarantees	143,365,491	134,483,995
Advertisingandnewproductplanningfees	88,109,227	117,665,807
Trademarklicensefee	81,116,480	61,000,949
Consultingfees	33,037,236	42,367,665
Technologicaltransformationprojectexpenses	13,271,106	13,301,266
Others	927,120,590	951,030,953
	5,899,601,355	5,739,064,167

Asat30June2025,otherpayableswithagingoveroneyearofRMB1,691,750,001(31December2024:RMB1,594,877,126)mainlycomprisedguaranteescollectedfromdistributorsandrepairstations,payablesforpromotion,payablesforresearchanddevelopmentexpensesandpayablesforconstructionprojects.Suchpayableshadnotbeenfinallysettledyetinviewofthecontinuingbusinesstransactionswithdistributorsandserviceproviders,andengineeringprojectsandresearchanddevelopmentprojectsthathadnotyetbeenacceptedandcompleted.

(27)	Currentportionofnon-currentliabilities

30June2025

31December2024

Currentportionofleaseliabilities

(Note5(30))

Currentportionofleaseliabilities(Note5(30))	83,069,133	85,684,387
Currentportionoflong-termborrowings(Note5(29))	468,775	470,727
	83,537,908	86,155,114

(28)

(28)	Othercurrentliabilities

30June2025

31December2024

Provisionsexpectedtobesettled

within1year(Note5(31))

Provisionsexpectedtobesettledwithin1year(Note5(31))	325,555,076	314,682,704
Others	20,453,457	26,865,737
	346,008,533	341,548,441

JIANGLINGMOTORSCORPORATION,LTD.NOTESTOTHEFINANCIALSTATEMENTSFORTHESIXMONTHSENDED30June2025

(AllamountsinRMBYuanunlessotherwisestated)[Englishtranslationforreferenceonly]

5	Notestotheconsolidatedfinancialstatements(Cont’d)

(29)

(29)	Long-termborrowings

30June2025

31December2024

Guaranteedloans(a)

Guaranteedloans(a)	1,171,938	1,412,180
Less:Currentportionoflong-termborrowings(Note5(27))	(468,775)	(470,727)
	703,163	941,453

(a)

(a)	Asat30June2025,theaboveguaranteedloanswerelong-termborrowingsamountingtoUSD163,710guaranteedbyJMCF(note8(5)(c)),borrowedfromIndustrialandCommercialBankofChina(“ICBC”),NanchangGanjiangSub-branchwithinterestspaideveryhalfyearandtheprincipalpaidininstalmentsbetween10December2007and27October2027.

Starting

date

Startingdate	Maturitydate	Currency	Interestrate(%)	30June2025				31December2024
				Amountinforeigncurrency		RMBequivalent		Amountinforeigncurrency		RMBequivalent

ICBCNanchangGanjiangSub-branch

27February1998

27October2027

USD

1.5%

163,710

1,171,938

196,453

1,412,180

(b)

(b)	Asat30June2025,theGrouphadnooverduelong-termborrowingsataninterestrateof1.5%(31December2024:1.5%).

(30)

(30)	Leaseliabilities

30June2025

31December2024

Leaseliabilities(a)

Leaseliabilities(a)	102,313,438	179,437,021
Less:Currentportionofnon-currentliabilities(Note5(27))	(83,069,133)	(85,684,387)
	19,244,305	93,752,634

(a)

(a)	Asat30June2025,theGrouphadnoleasesthatwerenotincludedinleaseliabilitiesbutwillresultinpotentialfuturecashoutflows.

JIANGLINGMOTORSCORPORATION,LTD.NOTESTOTHEFINANCIALSTATEMENTSFORTHESIXMONTHSENDED30June2025

(AllamountsinRMBYuanunlessotherwisestated)[Englishtranslationforreferenceonly]

5	Notestotheconsolidatedfinancialstatements(Cont’d)

(31)

(31)	Provisions

31December

2024

31December2024

Increaseinthecurrentperiod

Decreaseinthecurrentperiod

31December2024

Productwarranties

Productwarranties	601,848,407	179,196,025	(154,868,213)	626,176,219
Less:Provisionsexpectedtobesettledwithin1year(Note5(28))	(314,682,704)			(325,555,076)
	287,165,703			300,621,143

Productwarrantiesareexpensesexpectedtobeincurredduringthewarrantyperiodfromfreeafter-salesservices,productwarrantyandotherservicesforthevehiclessold.

Productwarrantiesareexpensesexpectedtobeincurredduringthewarrantyperiodfromfreeafter-salesservices,productwarrantyandotherservicesforthevehiclessold.(32)

(32)	Deferredincome

31December

2024

31December2024

Increaseinthecurrentperiod

Decreaseinthecurrentperiod

30June2025

Governmentgrants

61,202,010

6,321,000

(1,695,483)

65,827,527

(a)

(a)	Governmentgrants

31December

2024

31December2024		Increaseinthecurrentperiod		Decreaseinthecurrentperiod
31December2024		Increaseinthecurrentperiod		Recognisedinotherincome		30June2025

Governmentgrantsrelatedtoassets

Governmentgrantsrelatedtoassets	7,113,989	1,556,000	(998,881)	7,671,108
Governmentgrantsrelatedtoincome	54,088,021	4,765,000	(696,602)	58,156,419
	61,202,010	6,321,000	(1,695,483)	65,827,527

5	Notestotheconsolidatedfinancialstatements(Cont’d)

(33)

(33)	Long-termemployeebenefitspayable

30June2025

31December2024

Supplementaryretirementbenefitsandearly-retirementbenefitseligibleforrecognitionofprovisions

Supplementaryretirementbenefitsandearly-retirementbenefitseligibleforrecognitionofprovisions	61,785,748	63,500,000
Less:Payablewithin1year	(4,158,000)	(4,158,000)
	57,627,748	59,342,000

Theretirementandearly-retirementbenefitspayablewithinoneyearareincludedinemployeebenefitspayable(Note5(24)(c),Note5(24)(d)).

Forretiredandearly-retiredemployees,theGroupprovidesthemwithacertainamountofsupplementarybenefitsduringtheirretirementorearly-retirementperiod.Theamountofbenefitsdependsontheemployee’sposition,lengthofserviceandsalaryatthetimeofretirementorearly-retirement,andisadjustedinaccordancewithinflationrateandotherfactors.TheGroup’sobligationsforsupplementaryretirementandearly-retirementbenefitsasatthebalancesheetdatewerecalculatedusingprojectedunitcreditmethodandwerereviewedbyanexternalindependentactuary.

(a)	Movementsofretirementandearly-retirementbenefitsoftheGroupareasfollows:

Presentvalueoftheobligationsofthedefined

benefitplan

Presentvalueoftheobligationsofthedefinedbenefitplan
30June2025		31December2024

Openingbalance

63,500,000

56,916,000

Costofdefinedbenefitplansrecognisedinprofitorlossforthecurrentperiod

Costofdefinedbenefitplansrecognisedinprofitorlossforthecurrentperiod
-Currentservicecost	-	1,237,000
-Pastservicecost	-	1,131,000
-Actuarialgainsorlossesrecognisedimmediately	-	610,000
-Netinterest	-	1,378,000

Remeasurementofnetliabilitiesfordefinedbenefitplans

Remeasurementofnetliabilitiesfordefinedbenefitplans
-Actuariallosses(Note5(38))		-		5,816,000

Othermovements

Othermovements
-Benefitspaid		(1,714,252)		(3,588,000)

Endingbalance

61,785,748

63,500,000

5	Notestotheconsolidatedfinancialstatements(Cont’d)

(33)

(33)	Long-termemployeebenefitspayable(Cont’d)

(b)

(b)	ThemajoractuarialassumptionsusedtodeterminethepresentvalueofdefinedbenefitplanobligationsoftheGroup

30June2025

31December2024

Discountrate

Discountrate	1.75%	1.75%
Inflationrate	2.00%	2.00%
Salariesandbenefitsgrowthrates	0%-6%	0%-6%

FuturemortalityassumptionsweredeterminedbasedontheChinaLifeInsuranceMortalityTable(2010-2013),whichispubliclyavailablestatisticalinformationfortheChineseregion.

FuturemortalityassumptionsweredeterminedbasedontheChinaLifeInsuranceMortalityTable(2010-2013),whichispubliclyavailablestatisticalinformationfortheChineseregion.(34)

(34)	Othernon-currentliabilities

30June2025

31December2024

Contractliabilitiescarriedforwardtorevenueafter1year(Note5(23))

415,521,158

370,793,523

5	Notestotheconsolidatedfinancialstatements(Cont’d)

(35)

(35)	Sharecapital

31December

2024

31December2024

Movementsforthecurrentperiod

30June2025

Sharesnewlyissued

Bonusshare

Transferfromcapitalsurplus

Others

Sub-total

Sharessubjecttotradingrestriction-

Sharessubjecttotradingrestriction-
Otherdomesticshares
Including:Sharesheldbydomesticnon-state-ownedlegalpersons	745,140	-	-	-	-	-	745,140
Sharesheldbydomesticnaturalpersons	5,700	-	-	-	-	-	5,700
	750,840	-	-	-	-	-	750,840

Sharesnotsubjecttotradingrestriction-

Sharesnotsubjecttotradingrestriction-
OrdinarysharesdenominatedinRMB	518,463,160	-	-	-	-	-	518,463,160
Domesticallylistedforeignshares	344,000,000	-	-	-	-	-	344,000,000
	862,463,160	-	-	-	-	-	862,463,160
	863,214,000	-	-	-	-	-	863,214,000

SincetheimplementationoftheCompany’sSchemeonShareSplitReformon13February2006,asat30June2025,therewere750,840sharescurrentlyunavailablefortrading.Duringthereportingperiod,therewasnoshareswithtradingrestrictionsreleasedfromtherestrictedconditions.

JIANGLINGMOTORSCORPORATION,LTD.NOTESTOTHEFINANCIALSTATEMENTSFORTHESIXMONTHSENDED30June2025

(AllamountsinRMBYuanunlessotherwisestated)[Englishtranslationforreferenceonly]

5	Notestotheconsolidatedfinancialstatements(Cont’d)

(35)

(35)	Sharecapital(Cont’d)

31December

2023

31December2023

Movementsforthecurrentyear

31December2024

Sharesnewlyissued

Bonusshare

Transferfromcapitalsurplus

Others

Sub-total

Sharessubjecttotradingrestriction-

Sharessubjecttotradingrestriction-
Otherdomesticshares
Including:Sharesheldbydomesticnon-state-ownedlegalpersons	745,140	-	-	-	-	-	745,140
Sharesheldbydomesticnaturalpersons	5,700	-	-	-	-	-	5,700
	750,840	-	-	-	-	-	750,840

Sharesnotsubjecttotradingrestriction-

Sharesnotsubjecttotradingrestriction-
OrdinarysharesdenominatedinRMB	518,463,160	-	-	-	-	-	518,463,160
Domesticallylistedforeignshares	344,000,000	-	-	-	-	-	344,000,000
	862,463,160	-	-	-	-	-	862,463,160
	863,214,000	-	-	-	-	-	863,214,000

JIANGLINGMOTORSCORPORATION,LTD.NOTESTOTHEFINANCIALSTATEMENTSFORTHESIXMONTHSENDED30June2025

(AllamountsinRMBYuanunlessotherwisestated)[Englishtranslationforreferenceonly]

5	Notestotheconsolidatedfinancialstatements(Cont’d)

(36)

(36)	Capitalsurplus

31December

2024

31December2024

Increaseinthecurrentperiod

Decreaseinthecurrentperiod

30June2025

Sharepremium

Sharepremium	816,609,422	-	-	816,609,422
Othercapitalsurplus	22,833,068	-	-	22,833,068
	839,442,490	-	-	839,442,490

31December

2023

31December2023

Increaseinthecurrentyear

Decreaseinthecurrentyear

31December2024

Sharepremium

Sharepremium	816,609,422	-	-	816,609,422
Othercapitalsurplus	22,833,068	-	-	22,833,068
	839,442,490	-	-	839,442,490

(37)

(37)	Treasuryshares

31December

2024

31December2024

Increaseinthecurrentperiod

Decreaseinthecurrentperiod

30June2025

Treasuryshares

168,909,971

TheincreaseintreasurysharesduringthecurrentperiodwasduetotherepurchaseofA-sharesissuedbytheCompany,whichshallbeallottedforimplementingtheEmployeeStockOwnershipPlan(ESOP)orshareincentiveschemes.

JIANGLINGMOTORSCORPORATION,LTD.NOTESTOTHEFINANCIALSTATEMENTSFORTHESIXMONTHSENDED30June2025

(AllamountsinRMBYuanunlessotherwisestated)[Englishtranslationforreferenceonly]

5	Notestotheconsolidatedfinancialstatements(Cont’d)

(38)

(38)	Othercomprehensiveincome

Othercomprehensiveincomeinthebalance

sheet

Othercomprehensiveincomeinthebalancesheet				Othercomprehensiveincomeintheincomestatementforsixmonthsended30June2025
31December2024	Attributabletotheparentcompanyaftertax	30June2025		Amountincurredbeforeincometaxforthecurrentperiod	Less:Transfer-outofpreviousothercomprehensiveincomeinthecurrentperiod	Less:Incometaxexpenses	Attributabletotheparentcompanyaftertax	Attributabletothesubsidiaryaftertax

Othercomprehensiveincomethatwillnotbereclassifiedtoprofitorloss

Othercomprehensiveincomethatwillnotbereclassifiedtoprofitorloss
Actuarialgainsondefinedbenefitplans	(26,388,000)	-	(26,388,000)		-	-	-	-	-

Othercomprehensiveincomeinthebalance

sheet

Othercomprehensiveincomeinthebalancesheet				Othercomprehensiveincomeintheincomestatementforsixmonthsended31December2024
31December2023	Attributabletotheparentcompanyaftertax	31December2024		Amountincurredbeforeincometaxforthecurrentyear	Less:Transfer-outofpreviousothercomprehensiveincomeinthecurrentyear	Less:Incometaxexpenses	Attributabletotheparentcompanyaftertax	Attributabletothesubsidiaryaftertax

Othercomprehensiveincomethatwillnotbereclassifiedtoprofitorloss

Othercomprehensiveincomethatwillnotbereclassifiedtoprofitorloss
Actuarialgainsondefinedbenefitplans	(20,572,000)	(5,816,000)	(26,388,000)		(5,816,000)	-	-	(5,816,000)	-

5	Notestotheconsolidatedfinancialstatements(Cont’d)

(39)

(39)	Surplusreserve

31December

2024

31December2024

Increaseinthecurrentperiod

Decreaseinthecurrentperiod

30June2025

Statutorysurplusreserve

431,607,000

31December

2023

31December2023

Increaseinthecurrentyear

Decreaseinthecurrentyear

31December2024

Statutorysurplusreserve

431,607,000

InaccordancewiththeCompanyLawofthePeople’sRepublicofChina,theCompany’sArticlesofAssociationandtheresolutionoftheBoardofDirectors,theCompanyshouldappropriate10%ofnetprofitfortheperiodtothestatutorysurplusreserve,andtheCompanycanceaseappropriationwhenthestatutorysurplusreserveaccumulatedtomorethan50%oftheregisteredcapital.Thestatutorysurplusreservecanbeusedtomakeupforthelossorincreasethesharecapitaluponapprovalfromtheappropriateauthorities.Astheaccumulatedappropriationtothestatutorysurplusreserveexceeded50%oftheregisteredcapital,noappropriationwasmadeinthecurrentperiod(thesixmonthsended30June2024：Nil).TheCompanyreservesthediscretionarysurplusreserveaftertheshareholders’meetingapprovestheproposalfromtheBoardofDirectors.Thediscretionarysurplusreservecanbeusedtocompensateforthelossesincurredinpriorperiodsorincreasethesharecapitaluponapprovalfromappropriateauthorities.

TheCompanyreservesthediscretionarysurplusreserveaftertheshareholders’meetingapprovestheproposalfromtheBoardofDirectors.Thediscretionarysurplusreservecanbeusedtocompensateforthelossesincurredinpriorperiodsorincreasethesharecapitaluponapprovalfromappropriateauthorities.(40)

(40)	Retainedearnings

Sixmonthsended30June

Sixmonthsended30June
2025		2024

Retainedearningsatthebeginning

oftheyear

Retainedearningsatthebeginningoftheyear	9,179,333,271	8,232,632,623
Add:Netprofitattributabletoshareholdersoftheparentcompanyforthecurrentperiod	732,728,047	895,480,117
Less:Ordinarysharedividendspayable(a)	(614,608,368)	(590,438,376)
Retainedearningsattheendoftheperiod	9,297,452,950	8,537,674,364

(a)

OnJune24,2025,theCompany's2024AnnualGeneralMeetingexaminedandapprovedtheCompany's2024ProfitDistributionProposal.CashdividendswillbedistributedatRMB0.71914pershare,amountingtoRMB614,608,368intotal,basedonthetotalsharecapitalasoftherecorddateforthedistribution,lessthetotalnumberofsharesheldintheCompany'sspecialrepurchasesecuritiesaccount.

5	Notestotheconsolidatedfinancialstatements(Cont’d)

(41)

(41)	Revenueandcostofsales

Sixmonthsended30June

Sixmonthsended30June
2025		2024

Revenuefrommainoperations

Revenuefrommainoperations	17,647,624,305	17,435,844,213
Revenuefromotheroperations	444,761,905	484,221,588
	18,092,386,210	17,920,065,801

Sixmonthsended30June

Sixmonthsended30June
2025		2024

Costofsalesfrommainoperations

Costofsalesfrommainoperations	15,234,142,089	15,079,623,428
Costofsalesfromotheroperations	305,514,733	410,257,260
	15,539,656,822	15,489,880,688

(a)

(a)	Revenueandcostofsalesfrommainoperations

Sixmonthsended30June

	Sixmonthsended30June
	2025		2024
	Revenuefrommainoperations	Costofsalesfrommainoperations	Revenuefrommainoperations	Costofsalesfrommainoperations
				(Restated)
Salesofautomobiles	16,473,174,098	14,334,899,112	16,234,132,009	14,124,912,768
Salesofautomobileparts	879,700,380	604,581,639	858,699,049	615,732,277
Automobilemaintenanceservices,etc.	294,749,827	294,661,338	343,013,155	338,978,383
	17,647,624,305	15,234,142,089	17,435,844,213	15,079,623,428

(b)

(b)	Revenueandcostofsalesfromotheroperations

Sixmonthsended30June

Sixmonthsended30June
2025		2024
Revenuefromotheroperations	Costofsalesfromotheroperations	Revenuefromotheroperations	Costofsalesfromotheroperations

Salesofmaterials

Salesofmaterials	219,681,704	197,278,683	326,730,729	312,885,452
Others	225,080,201	108,236,050	157,490,859	97,371,808
	444,761,905	305,514,733	484,221,588	410,257,260

JIANGLINGMOTORSCORPORATION,LTD.NOTESTOTHEFINANCIALSTATEMENTSFORTHESIXMONTHSENDED30June2025

(AllamountsinRMBYuanunlessotherwisestated)[Englishtranslationforreferenceonly]

5	Notestotheconsolidatedfinancialstatements(Cont’d)

(41)

(41)	Revenueandcostofsales(Cont’d)

(c)

(c)	ThebreakdownoftheGroup’srevenuebyproductandservicetransfertimewasasfollows:

Sixmonthsended30June2025

Sixmonthsended30June2025
Automobiles	Automobileparts	Automobilemaintenanceservices,etc.	Materialsandothers	Total

Revenuefrommainoperations

Revenuefrommainoperations	16,473,174,098	879,700,380	294,749,827	-	17,647,624,305
Including:Recognisedatatimepoint	16,473,174,098	879,700,380	-	-	17,352,874,478
Recognisedwithinacertainperiod	-	-	294,749,827	-	294,749,827
Revenuefromotheroperations(i)	-	-	-	444,761,905	444,761,905
	16,473,174,098	879,700,380	294,749,827	444,761,905	18,092,386,210

Sixmonthsended30June2024

Sixmonthsended30June2024
Automobiles	Automobileparts	Automobilemaintenanceservices,etc.	Materialsandothers	Total

Revenuefrommainoperations

Revenuefrommainoperations	16,234,132,009	858,699,049	343,013,155	-	17,435,844,213
Including:Recognisedatatimepoint	16,234,132,009	858,699,049	-	-	17,092,831,058
Recognisedwithinacertainperiod	-	-	343,013,155	-	343,013,155
Revenuefromotheroperations(i)	-	-	-	484,221,588	484,221,588
	16,234,132,009	858,699,049	343,013,155	484,221,588	17,920,065,801

(i)

(i)	TheGroup'srevenuefromotheroperationsincludessalesofmaterialsandtechnicalserviceprovided.Revenuefromsalesofmaterialsisrecognisedatacertaintimepoint,andrevenuefromtechnicalserviceprovidedisrecognisedwithinacertainperiod.

Asat30June2025,theamountofrevenuecorrespondingtotheperformanceobligationsthattheGrouphadcontractedbuthadnotcommencedorcompletedwasRMB1,051,068,840,ofwhichtheGroupexpectsthatRMB156,872,501andRMB478,675,181willberecognisedasrevenuefromthesalesofautomobilesandpartsandrevenuefromthesalesofautomobilemaintenanceservicesrespectivelyin2025,RMB415,521,158willberecognisedasrevenuefromautomobilemaintenanceservicesfrom2026to2030(Note5(23)).

(42)	Taxesandsurcharges

Sixmonthsended30June

Sixmonthsended30June
2025		2024

Consumptiontax

Consumptiontax	435,046,919	524,126,267
Citymaintenanceandconstructiontax	35,278,515	49,997,854
Educationalsurcharge	35,050,903	49,882,499
Stamptax	16,794,959	29,026,562
Realestatetax	10,106,318	9,909,327
Landusetax	10,097,811	10,228,561
Others	198,079	212,283
	542,573,504	673,383,353

JIANGLINGMOTORSCORPORATION,LTD.NOTESTOTHEFINANCIALSTATEMENTSFORTHESIXMONTHSENDED30June2025

(AllamountsinRMBYuanunlessotherwisestated)[Englishtranslationforreferenceonly]

5	Notestotheconsolidatedfinancialstatements(Cont’d)

(43)

(43)	Sellinganddistributionexpenses

Sixmonthsended30June

Sixmonthsended30June
2025		2024

Promotionexpenses

Promotionexpenses	203,844,392	279,009,783
Employeebenefits	106,794,037	119,214,306
Advertisingandnewproductplanningfees	39,306,864	54,490,620
Storageexpenses	22,792,774	24,921,332
Packagingmaterialexpenses	18,726,471	15,610,119
Depreciationandamortisationexpenses	6,365,515	8,566,421
Others	68,962,440	115,263,170
	466,792,493	617,075,751

(44)

(44)	Generalandadministrativeexpenses

Sixmonthsended30June

Sixmonthsended30June
2025		2024

Employeebenefits

Employeebenefits	278,702,135	257,247,147
Depreciationandamortisationexpenses	59,481,750	60,085,504
Trademarklicensefee	33,660,541	52,181,119
Repairexpenses	6,888,317	10,219,241
Generalofficeexpenses	6,048,357	5,334,911
Consultingfees	4,691,161	7,170,257
Others	71,208,960	68,267,648
	460,681,221	460,505,827

(45)

(45)	Researchanddevelopmentexpenses

Sixmonthsended30June

Sixmonthsended30June
2025		2024

Employeebenefits

Employeebenefits	389,317,458	300,676,533
Materialsexpenses	73,513,933	82,212,567
Designfee	70,720,348	124,951,201
Depreciationandamortisationexpenses	37,108,953	42,867,809
Others	82,265,109	66,529,617
	652,925,801	617,237,727

5	Notestotheconsolidatedfinancialstatements(Cont’d)

(46)

(46)	Financialexpenses

Sixmonthsended30June

Sixmonthsended30June
2025		2024

Interestcosts

Interestcosts	5,017,907	8,911,864
Add:Interestcostsonleaseliabilities	2,988,976	4,483,267
Interestexpenses	8,006,883	13,395,131
Less:Interestincomefromcashatbank	(72,870,258)	(112,657,246)
Otherinterestincome	(1,590,930)	(3,905,129)
Interestincome	(74,461,188)	(116,562,375)
Exchangegainsorlosses	10,477,168	15,075,445
Others	600,450	436,332
	(55,376,687)	(87,655,467)

(47)

(47)	Assetimpairmentlosses

Sixmonthsended30June

Sixmonthsended30June
2025		2024

Lossesondeclineinthevalueofinventories

(42,736)

(4,296,473)

(48)

(48)	Creditimpairmentlosses

Sixmonthsended30June

Sixmonthsended30June
2025		2024

Lossesonbaddebtsofaccountsreceivable

Lossesonbaddebtsofaccountsreceivable	2,311,109	(2,199,927)
Lossesonbaddebtsofotherreceivables	28,057	(155,303)
Lossesonbaddebtsofnotesreceivable	19	(17,564)
Lossesonbaddebtsoflong-termreceivables	(43,558)	(14,909)
	2,295,627	(2,387,703)

(49)

(49)	Otherincome

Sixmonthsended30June

	Sixmonthsended30June		Assetrelated/Incomerelated
	2025	2024	Assetrelated/Incomerelated
Governmentgrants
-Supportingfundsbygovernment	191,600,000	50,000,000	Incomerelated
-Researchanddevelopmentactivitiesrelatedsubsidies	596,602	13,820,858	Incomerelated
-Equipmentpurchasing-relatedsubsidies	998,881	805,357	Assetrelated
-Othersubsidiesrelatedwithdailyoperation	9,046,699	11,752,761	Incomerelated
AdditionaldeductionofinputVAT,etc.	119,023,489	303,586,244	—
	321,265,671	379,965,220

JIANGLINGMOTORSCORPORATION,LTD.NOTESTOTHEFINANCIALSTATEMENTSFORTHESIXMONTHSENDED30June2025

(AllamountsinRMBYuanunlessotherwisestated)[Englishtranslationforreferenceonly]

5	Notestotheconsolidatedfinancialstatements(Cont’d)

(50)

(50)	Investmentincome

Sixmonthsended30June

Sixmonthsended30June
2025		2024

Lossesondiscountoffinancingreceivableseligibleforderecognition(Note5(5))

Lossesondiscountoffinancingreceivableseligibleforderecognition(Note5(5))	(234,105)	-
Lossesonlong-termequityinvestmentsunderequitymethod(Note5(12))	(9,803,325)	(2,527,255)
Investmentincomefromforwardexchangesettlement	10,631,603	5,982,935
Investmentincomefromfinancialassetsheldfortrading	85,408	2,652,711
	679,581	6,108,391

ThereisnosignificantrestrictionontheremittanceofinvestmentincomeoftheGroup.

ThereisnosignificantrestrictionontheremittanceofinvestmentincomeoftheGroup.(51)

(51)	Gainsonchangesinfairvalue

Sixmonthsended30June

Sixmonthsended30June
2025		2024

Derivativefinancialassetsandderivativefinancialliabilities-

Derivativefinancialassetsandderivativefinancialliabilities-
(Losses)/Gainsonforwardexchangecontracts	(7,182,998)	4,970,251
Financialassetsatfairvaluethroughprofitorloss-
Structuraldeposits	179,240	(21,425)
	(7,003,758)	4,948,826

(52)

(52)	Gainsondisposalofassets

Sixmonthsended30June

Sixmonthsended30June				Amountrecognisedinnon-recurringprofitorlossAsat30June2025
2025		2024		Amountrecognisedinnon-recurringprofitorlossAsat30June2025

Gainsondisposalofassets

18,372,675

10,657,596

18,372,675

JIANGLINGMOTORSCORPORATION,LTD.NOTESTOTHEFINANCIALSTATEMENTSFORTHESIXMONTHSENDED30June2025

(AllamountsinRMBYuanunlessotherwisestated)[Englishtranslationforreferenceonly]

5	Notestotheconsolidatedfinancialstatements(Cont’d)

(53)

(53)	Non-operatingincome

Sixmonthsended30June

Sixmonthsended30June				Amountrecognisedinnon-recurringprofitorlossAsat30June2025
2025		2024		Amountrecognisedinnon-recurringprofitorlossAsat30June2025

PenaltyincomeandOthers

1,697,188

1,134,539

1,697,188

(54)

(54)	Non-operatingexpenses
		Sixmonthsended30June		Amountrecognisedinnon-recurringprofitorlossAsat30June2025
		2025	2024	Amountrecognisedinnon-recurringprofitorlossAsat30June2025

Lossesonscrappingofassets

Lossesonscrappingofassets	-	65,698	-
Donations	5,032	2,792,688	5,032
Others	201,715	2,362,709	201,715
	206,747	5,221,095	206,747

(55)

(55)	Incometaxexpenses

Sixmonthsended30June

Sixmonthsended30June
2025		2024

Currentincometaxcalculatedbasedontaxlawandrelatedregulations

Currentincometaxcalculatedbasedontaxlawandrelatedregulations	13,337	4,274
Deferredincometax	84,071,401	(56,973,528)
	84,084,738	(56,969,254)

5	Notestotheconsolidatedfinancialstatements(Cont’d)

(55)

(55)	Incometaxexpenses(Cont’d)

Thereconciliationfromincometaxcalculatedbasedontheapplicabletaxratesandtotalprofitpresentedintheconsolidatedincomestatementtotheincometaxexpensesislistedasfollows:

Sixmonthsended30June

Sixmonthsended30June
2025		2024

Totalprofit

Totalprofit	817,684,775	553,915,575
Incometaxcalculatedatapplicabletaxrates	122,652,716	83,087,336
Effectofdifferentapplicabletaxrates	33,360,309	(71,290,587)
Additionaldeductions	(75,507,128)	(72,828,094)
Deductivelossandtemporarydifferencesoftheunrecogniseddeferredtaxassetinthecurrentperiod	966,317	3,135,138
Non-deductibleinvestmentlosses	1,470,498	379,088
Costs,expensesandlossesnotdeductiblefortaxpurposes	1,142,025	547,865
Incometaxexpenses	84,084,738	(56,969,254)

(56)

(56)	Earningspershare

(a)

(a)	Basicearningspershare

Basicearningspersharearecalculatedbydividingconsolidatednetprofitattributabletoordinaryshareholdersoftheparentcompanybytheweightedaveragenumberofoutstandingordinarysharesoftheparentcompany:

Sixmonthsended30June

Sixmonthsended30June
2025		2024

Consolidatednetprofitattributabletoordinary

shareholdersoftheparentcompany

Consolidatednetprofitattributabletoordinaryshareholdersoftheparentcompany	732,728,047	895,480,117
WeightedaveragenumberofordinarysharesoutstandingissuedbytheCompany	860,455,004	863,214,000
Basicearningspershare	0.85	1.04

(b)

DilutedearningspersharearecalculatedbydividingconsolidatednetprofitattributabletoordinaryshareholdersoftheparentcompanyadjustedbasedonthedilutivepotentialordinarysharesbytheadjustedweightedaveragenumberofoutstandingordinarysharesoftheCompany.Astherewerenodilutivepotentialordinarysharesasat30June2025(thesixmonthsended30June2024：Nil),dilutedearningspershareequalledtobasicearningspershare.

JIANGLINGMOTORSCORPORATION,LTD.NOTESTOTHEFINANCIALSTATEMENTSFORTHESIXMONTHSENDED30June2025

(AllamountsinRMBYuanunlessotherwisestated)[Englishtranslationforreferenceonly]

5	Notestotheconsolidatedfinancialstatements(Cont’d)

(57)

(57)	Notestothecashflowstatement

TheGroupdoesnotpresentcashflowsonanetbasis,andthesignificantcashflowitemsarepresentedasfollows:

(a)

(a)	Cashreceivedrelatingtootheroperatingactivities

Sixmonthsended30June

Sixmonthsended30June
2025		2024

Governmentgrants

Governmentgrants	208,694,864	75,117,834
Guarantees	43,240,153	18,017,968
Others	32,369,069	25,748,723
	284,304,086	118,884,525

(b)

(b)	Cashpaidrelatingtootheroperatingactivities

Sixmonthsended30June

Sixmonthsended30June
2025		2024

Researchanddevelopmentexpenses

Researchanddevelopmentexpenses	391,730,406	279,544,973
Promotionexpenses	383,162,063	262,782,714
Advertisingexpenses	73,585,126	106,878,573
Maintenanceexpenses	44,922,284	34,102,249
Guarantees	35,780,586	29,075,464
Consultingfees	31,116,397	24,608,124
Trademarkroyalties	10,261,304	32,447,757
Others	278,077,246	288,779,796
	1,248,635,412	1,058,219,650

(c)

(c)	Cashreceivedrelatingtootherinvestingactivities

Sixmonthsended30June

Sixmonthsended30June
2025		2024

Interestfromcashatbank

Interestfromcashatbank	74,707,091	118,380,474
Otherinterest	11,599,410	9,764,230
	86,306,501	128,144,704

(d)

(d)	Cashpaidrelatingtootherfinancingactivities

Sixmonthsended30June

Sixmonthsended30June
2025		2024

Leaseliabilities

Leaseliabilities	12,377,597	12,923,965
Stockrepurchases	170,000,000	-
	182,377,597	12,923,965

5	Notestotheconsolidatedfinancialstatements(Cont’d)

(58)

(58)	Supplementaryinformationtothecashflowstatement

(a)

(a)	Supplementaryinformationtothecashflowstatement

Reconciliationfromnetprofittocashflowsfromoperatingactivities

ReconciliationfromnetprofittocashflowsfromoperatingactivitiesSixmonthsended30June

Sixmonthsended30June
2025		2024

Netprofit

Netprofit	733,600,037	610,884,829
Add:Assetimpairmentlosses(Note5(47))	(42,736)	(4,296,473)
Creditimpairmentlosses(Note5(48))	2,295,627	(2,387,703)
Depreciationoffixedassets(Note5(13))	552,829,786	485,221,314
Amortisationofintangibleassets(Note5(16))	231,412,924	200,787,127
Depreciationofright-of-useassets(Note5(15))	40,592,333	41,568,134
Gainsondisposaloflong-termassets	(18,414,462)	(10,591,898)
Financialincome	(56,039,252)	(88,092,019)
Investmentincome(Note5(50))	(679,581)	(6,108,391)
Losses/(Gains)onchangesinfairvalue(Note5(51))	7,003,758	(4,948,826)
Increaseindeferredtaxassets	(5,659,067)	(56,687,904)
Increase/(Decrease)indeferredtaxliabilities	89,730,468	(285,624)
Decrease/(Increase)ininventories	149,005,794	(788,821,169)
Increaseinprovisions	24,327,812	30,899,260
Increaseinoperatingreceivables	(1,474,752,408)	(719,744,780)
(Decrease)/Increaseinoperatingpayables	(349,545,446)	1,043,839,882
Decreaseinothercashandcashequivalents	9,836,629	2,093,918
Netcashflowsfromoperatingactivities	(64,497,784)	733,329,677

Netincreaseincashandcashequivalents

NetincreaseincashandcashequivalentsSixmonthsended30June

Sixmonthsended30June
2025		2024

Cashandcashequivalentsattheendof

theperiod

Cashandcashequivalentsattheendoftheperiod	11,781,003,829	10,967,680,201
Less:Cashandcashequivalentsatthebeginningoftheyear	(12,475,176,009)	(11,746,518,615)
Netincreaseincashandcashequivalents	(694,172,180)	(778,838,414)

5	Notestotheconsolidatedfinancialstatements(Cont’d)

(58)

(58)	Supplementaryinformationtothecashflowstatement(Cont’d)

(b)

(b)	Changesinliabilitiesarisingfromfinancingactivities

Bankborrowings

(includingthecurrentportion)

Bankborrowings(includingthecurrentportion)

Leaseliabilities(includingthecurrentportion)

OtherPayables

Total

31December2024

31December2024	1,501,412,180	179,437,021	125,419,835	1,806,269,036
Cashinflowsfromfinancingactivities	2,847,575,556	-	85,750,000	2,933,325,556
Cashoutflowsfromfinancingactivities	(2,950,194,385)	(12,377,597)	(362,177)	(2,962,934,159)
Interestaccruedinthecurrentperiod	2,377,923	2,988,976	2,639,982	8,006,881
Dividendsaccruedinthecurrentperiod	-	-	614,608,368	614,608,368
Changesthatdonotinvolvecashreceiptsandpayments	664	(67,734,962)	70,873,804	3,139,506
30June2025	1,401,171,938	102,313,438	898,929,812	2,402,415,188

JIANGLINGMOTORSCORPORATION,LTD.NOTESTOTHEFINANCIALSTATEMENTSFORTHESIXMONTHSENDED30June2025

(AllamountsinRMBYuanunlessotherwisestated)[Englishtranslationforreferenceonly]

5	Notestotheconsolidatedfinancialstatements(Cont’d)

(58)

(58)	Supplementaryinformationtothecashflowstatement(Cont’d)

(c)

(c)	Cashandcashequivalents

30June2025

31December2024

Cashatbankavailableforpaymentatanytime

Cashatbankavailableforpaymentatanytime	10,420,513,196	11,067,571,593
Cashatfinancecompanyavailableforpaymentatanytime	1,360,490,633	1,407,604,416
	11,781,003,829	12,475,176,009

(i)

(i)	AsinNote5(1),othercashandcashequivalentsofRMB8,856,058asat30June2025(31December2024:RMB18,692,687)wasnotincludedincashandcashequivalents.

(59)

(59)	Foreigncurrencymonetaryitems

30June2025

30June2025
Amountsinforeigncurrencies		Translationexchangerate		AmountsinRMB

Long-termborrowings-

Long-termborrowings-
USD	163,710		7.1586		1,171,938

Otherpayables-

Otherpayables-
USD	14,271,673		7.1586		102,165,197

103,337,135

5	Notestotheconsolidatedfinancialstatements(Cont’d)

(60)

Lease

(a)

Asalessee

Sixmonthsended30June

Sixmonthsended30June
2025		2024

Interestexpenseonleaseliabilities

Interestexpenseonleaseliabilities	2,988,976	4,483,267
Short-termleaseexpenseswithsimplifiedtreatmentthroughprofitorlossfortheperiod	2,047,029	43,810
Totalcashoutflowsrelatedtoleases	14,424,626	12,967,775

TheleasedassetsleasedbytheGroupincludehousesandbuildingsusedinthecourseofoperation,andtheleasetermofhousesandbuildingsisusually1-5years.Right-of-useassets,seenote5(15);Forleaseliabilities,seenote5(30).

(b)

Asalessor

TheGroupleasesoutitspremises,buildingsandmeansoftransportforleasetermsrangingfrom1to3yearstoformanoperatinglease.OperatingleasesGainsandlossesrelatedtooperatingleasesarepresentedasfollows:

Sixmonthsended30June

Sixmonthsended30June
2025		2024

Rentalincome

98,802,662

14,847,056

Accordingtotheleasecontractwiththelessee,theundiscountedminimumleasecollectionamountisasfollows:

30June2025

31December2024

Within1year(including1year)

Within1year(including1year)	175,489,359	131,603,273
1to2years(inclusive)	45,380,806	43,748,470
2yearsto3years(inclusive)	9,595,672	18,874,242
	230,465,837	194,225,985

Forfixedassetsleasedoutofoperation,seeNote5(13).

JIANGLINGMOTORSCORPORATION,LTD.NOTESTOTHEFINANCIALSTATEMENTSFORTHESIXMONTHSENDED30June2025

(AllamountsinRMBYuanunlessotherwisestated)[Englishtranslationforreferenceonly]

6	Equityinotherentities

(1)

(1)	Equityinsubsidiaries

StructureoftheGroup

StructureoftheGroupSubsidiaries

Subsidiaries	Mainplaceofbusiness	Placeofregistration	Registeredcapital	Natureofbusiness	Shareholding(%)		Methodofacquisition
					Direct	Indirect

JMCS

JMCS	Nanchang,Jiangxi	Nanchang,Jiangxi	50,000,000	Retail,wholesaleandleaseofautomobiles	100%	-	Setupbyinvestment
JMCH	Taiyuan,Shanxi	Taiyuan,Shanxi	1,323,793,174	Manufactureandsalesofautomobiles	100%	-	Businesscombinationsinvolvingenterprisesnotundercommoncontrol
SZFJ	Shenzhen,Guangdong	Shenzhen,Guangdong	10,000,000	Retail,wholesaleandleaseofautomobiles	100%	-	Setupbyinvestment
GZFJ	Guangzhou,Guangdong	Guangzhou,Guangdong	10,000,000	Retail,wholesaleandleaseofautomobiles	100%	-	Setupbyinvestment
JianglingFord(Shanghai)(a)	Shanghai	Shanghai	200,000,000	Salesofautomobiles,technicalandbusinessinformationconsultation	51%	-	Setupbyinvestment

6	Equityinotherentities(Cont’d)

(1)

(1)	Equityinsubsidiaries(Cont’d)

(a)

(a)	Subsidiarieswithsignificantminorityinterests

TheGroupdeterminesthesubsidiarieswithsignificantminorityinterestsbytakingintoaccountwhetherthesubsidiariesarelistedcompanies,theproportionofminorityinterestsintheGroup’sconsolidatedshareholders’equity,andtheproportionofprofitorlossattributabletominorityshareholdersintheGroup’sconsolidatednetprofit,asfollows:

Subsidiaries

Shareholdingofminorityshareholders

Totalprofitorlossattributabletominorityshareholdersforsixmonthsended30June2025

Dividendspaidtominorityshareholdersforsixmonthsended30June2025

Minorityinterestsasat30June2025

JianglingFord(Shanghai)

49%

871,990

(696,363,343)

Keyfinancialinformationoftheabovesignificantnon-whollyownedsubsidiariesispresentedbelow.

Keyfinancialinformationoftheabovesignificantnon-whollyownedsubsidiariesispresentedbelow.30June2025

30June2025
Currentassets		Non-currentassets		Totalassets		Currentliabilities		Non-currentliabilities		Totalliabilities

JianglingFord(Shanghai)

307,387,580

567,957,831

875,345,411

2,257,478,972

39,016,117

2,296,495,089

Sixmonthsended30June2025

Sixmonthsended30June2025
Revenue		Netloss		Totalcomprehensiveloss		Cashflowsfromoperatingactivities

JianglingFord(Shanghai)

1,667,276,790

1,779,572

（388,582,257）

JIANGLINGMOTORSCORPORATION,LTD.NOTESTOTHEFINANCIALSTATEMENTSFORTHESIXMONTHSENDED30June2025

(AllamountsinRMBYuanunlessotherwisestated)[Englishtranslationforreferenceonly]

6	Equityinotherentities(Cont’d)

(2)

(2)	Equityinassociates

(a)

(a)	Generalinformationofsignificantassociates

TheGroupdeterminesthesignificantassociatesbytakingintoaccountfactorssuchaswhethertheassociatesarelistedcompanies,theproportionoftheircarryingamountstotheGroup’sconsolidatedtotalassets,andtheproportionoftheinvestmentincomefromlong-termequityinvestmentsunderequitymethodtotheGroup’sconsolidatednetprofit,assetoutbelow:

Placeofregistration

Placeofregistration		Shareholding(%)
Placeofregistration		Direct		Indirect

Associate-

Associate-
ThePowerCompany		Taiyuan,Shanxi		40%		-

(b)

(b)	Summarisedfinancialinformationforsignificantassociates

30June2025

30June2025		31December2024
ThePowerCompany		ThePowerCompany

Currentassets

Currentassets	153,401,579	170,083,868
Non-currentassets	414,720,626	437,139,815
Totalassets	568,122,205	607,223,683

Currentliabilities

Currentliabilities	130,340,579	139,059,465
Non-currentliabilities	390,039	697
Totalliabilities	130,730,618	139,060,162

Equity

437,391,587

468,163,521

Shareofnetassetsbasedonshareholding(i)

Shareofnetassetsbasedonshareholding(i)	174,956,635	187,265,408
Adjustments
-Unrealisedprofitsarisingfrominternaltransactions	(13,483,984)	(13,725,485)
-Others(ii)	20,853,323	20,853,323

Carryingamountofequityinvestmentsinassociates

182,325,974

194,393,246

6	Equityinotherentities(Cont’d)

(2)

(2)	Equityinassociates(Cont’d)

(b)

(b)	Summarisedfinancialinformationforsignificantassociates(Cont’d)

Thesixmonthsended30June

Thesixmonthsended30June
2025	2024
ThePowerCompany		ThePowerCompany

Revenue

Revenue	42,666,259	27,275,105
Netloss	(6,102,629)	(10,982,624)
Othercomprehensiveincome	-	-
Totalcomprehensiveloss	(6,102,629)	(10,982,624)

DividendsreceivedfromassociatesbytheGroup

(i)

TheGroupcalculatedthesharesofnetassetsinproportionoftheshareholdingsandbasedontheamountattributabletotheparentcompanyoftheassociatesintheirconsolidatedfinancialstatements.Theamountintheconsolidatedfinancialstatementsofassociatesconsidersthefairvalueofidentifiableassetsandliabilitiesatthetimeofacquisitionoftheinvestmentsandtheimpactofadjustmentstouniformaccountingpolicies.NoneoftheassetsinvolvedintransactionsbetweentheGroupandassociatescontributetobusiness.

(ii)

(ii)	Otheradjustmentsweremainlytheremeasurementoffairvalueofremainingequityintheconsolidatedfinancialstatements,whichresultedfromthelossofcontrolovertheoriginalsubsidiaryduetothedisposalofpartoftheequityinvestment.

(c)

(c)	Summarisedinformationofinsignificantassociates

Thesixmonthsended30June

Thesixmonthsended30June
2025		2024

Aggregatedcarryingamountofinvestments

27,168,732

28,773,014

Aggregateofthefollowingitemsbasedonshareholding

Aggregateofthefollowingitemsbasedonshareholding
Netloss(i)	2,263,947	1,438,671
Othercomprehensiveincome(i)	-	-
Totalcomprehensiveloss	2,263,947	1,438,671

(i)

(i)	Netprofitandothercomprehensiveincomehavetakenintoaccountthefairvalueofidentifiableassetsandliabilitiesatthetimeofacquisitionoftheinvestmentsandtheimpactofadjustmentstouniformaccountingpolicies.

7	Segmentinformation

RevenueandprofitsoftheGroupmainlyarisefromproductionanddomesticsalesofautomobiles,andtheprimaryassetsoftheGrouparealllocatedinChina.ManagementoftheGroupassessestheoperatingperformanceoftheGroupasawhole.Therefore,nosegmentreportispreparedforthecurrentperiod.Thesixmonthsended30June2025,therevenueobtainedfromasinglecustomeroftheGroupaccountedformorethan10%oftheGroup’srevenue,amountingtoRMB6,014,014,463,or33.24%(thesixmonthsended30June2024：28.22%),oftheGroup’srevenue.

8	Relatedpartiesandrelatedpartytransactions

(1)

(1)	Informationofmajorshareholders

(a)

(a)	Generalinformationofmajorshareholders

Typeofenterprise

Placeofregistration

Legalrepresentative

Natureofbusiness

Codeoforganisation

JIC

JIC	State-ownedenterprise	Nanchang,China	QiuTiangao	Investmentandassetmanagement	91360125MA38LUR91F
Ford	Foreignenterprise	UnitedStates	WilliamClayFord,Jr.	Manufactureandsalesofautomobiles	N/A

(b)

(b)	Registeredcapitalandchangesinmajorshareholders

31December

2024

31December2024

Increaseinthecurrentperiod

Decreaseinthecurrentperiod

30June2025

JIC

JIC	1,000,000,000	-	-	1,000,000,000
Ford	USD42,000,000	-	-	USD42,000,000

(c)

(c)	ThepercentagesofshareholdingandvotingrightsintheCompanyheldbymajorshareholders

30June2025

30June2025			31December2024
Shareholding(%)	Votingrights(%)		Shareholding(%)	Votingrights(%)

JIC

JIC	41.03%	41.03%		41.03%	41.03%
Ford	32%	32%		32%	32%

(2)

(2)	Informationofsubsidiaries

ThegeneralinformationandotherrelatedinformationofsubsidiariesaresetoutinNote6(1).

ThegeneralinformationandotherrelatedinformationofsubsidiariesaresetoutinNote6(1).(3)

(3)	Informationofassociates

TheinformationofassociatesissetoutinNote5(12).

JIANGLINGMOTORSCORPORATION,LTD.NOTESTOTHEFINANCIALSTATEMENTSFORTHESIXMONTHSENDED30June2025

(AllamountsinRMBYuanunlessotherwisestated)[Englishtranslationforreferenceonly]

8	Relatedpartiesandrelatedpartytransactions(Cont’d)

(4)

(4)	Informationofotherrelatedparties

RelationshipwiththeGroup

RelationshipwiththeGroupJMCG

JMCG	ShareholderofJIC
ChongqingChanganAutomobileCo.,Ltd.(hereinafterreferredtoas“ChongqingChangan”)	ShareholderofJIC
JianglingAutomobileGroup(Nanchang)FushanEnergyCo.,Ltd.	ControlledbyJMCG
JiangxiJMCGIndustryCo.,Ltd.	ControlledbyJMCG
JMCF	ControlledbyJMCG
JiangxiJMCGSpecialtyVehiclesCo.,Ltd.	ControlledbyJMCG
JiangxiJianglingLearInteriorSystemCo.,Ltd.	ControlledbyJMCG
JiangxiLingruiRecyclingResourcesDevelopmentCorporation	ControlledbyJMCG
JiangxiJianglingChassisCo.,Ltd.	ControlledbyJMCG
NanchangJianglingHuaXiangAutoComponentsCo.,Ltd.	ControlledbyJMCG
JMCGPropertyManagementCo.	ControlledbyJMCG
JMCGJiangxiEngineeringConstructionCo.,Ltd.	ControlledbyJMCG
NanchangJMCGLianchengAutoComponentCo.,Ltd.	ControlledbyJMCG
JianglingAoweiAutomobileSparePartCo.,Ltd.	ControlledbyJMCG
NanchangJMCGShishunLogisticsCo.,Ltd.	ControlledbyJMCG
NanchangLiandaMachineryCo.,Ltd.	ControlledbyJMCG
JMCGJingmaMotorsCo.,Ltd.	ControlledbyJMCG
JiangxiJMCGShangraoIndustrialCo.,Ltd.	ControlledbyJMCG
NanchangUnistarElectric&ElectronicsCo.,Ltd.	ControlledbyJMCG
JiangxiISUZUEngineCo.,Ltd.	ControlledbyJMCG
JiangxiISUZUCo.,Ltd.	ControlledbyJMCG
NanchangHengouIndustryCo.,Ltd.	ControlledbyJMCG
NanchangJianglingGroupFrameCo.,Ltd	ControlledbyJMCG
JiangxiJianglingSpecialPurposeVehicleCo.,Ltd.	ControlledbyJMCG
JianglingMotorElectricityVehicleCo.,Ltd.	ControlledbyJMCG
JiangxiLinggeNon-ferrousMetalDie-castingCo.,Ltd.	ControlledbyJMCG
JiangxiJianglingMotorsImp.&Exp.Co.,Ltd.	ControlledbyJMCG
JiangxiJMCGSpecialtyVehiclesSalesCorporation,Ltd.	ControlledbyJMCG
NanchangGearForgingCo.,Ltd.	ControlledbyJMCG
JiangxiJMCGBoyabrakesystemCo.,Ltd.	ControlledbyJMCG
JiangxiMingfangAutoPartsIndustryCo.,Ltd.	ControlledbyJMCG
JiangxiJianglinggroupFuxinAutoPartsCo.,Ltd.	ControlledbyJMCG
FordMotor(China)Co.,Ltd.	ControlledbyFord
FordTradingCompany,LLC	ControlledbyFord
FordMotorResearch&Engineering(Nanjing)Co.,Ltd.	ControlledbyFord
FordGlobalTechnologies,LLC	ControlledbyFord
FordVietnamLimited	ControlledbyFord
FordMotorCo.ThailandLtd.	ControlledbyFord
AutoAlliance(Thailand)Co.,Ltd.	ControlledbyFord
FordElectricMachTechnology(Nanjing)Co.,Ltd.	ControlledbyFord
ChanganFordAutomobileCo.,Ltd.	JointventureofFord

JIANGLINGMOTORSCORPORATION,LTD.NOTESTOTHEFINANCIALSTATEMENTSFORTHESIXMONTHSENDED30June2025

(AllamountsinRMBYuanunlessotherwisestated)[Englishtranslationforreferenceonly]

8	Relatedpartiesandrelatedpartytransactions(Cont’d)

(4)

(4)	Informationofotherrelatedparties

RelationshipwiththeGroup

RelationshipwiththeGroupChinaChanganGroupTianjinSalesCo.,Ltd.

ChinaChanganGroupTianjinSalesCo.,Ltd.	ControlledbyUltimateHoldingCompanyofChongqingChangan
ChongqingAnfuVehicleMarketingCo.,Ltd.	ControlledbyUltimateHoldingCompanyofChongqingChangan
ChengduWanxingVehicleSales&ServiceCo.,Ltd.	ControlledbyUltimateHoldingCompanyofChongqingChangan
GuizhouWanfuVehicleSales&ServiceCo.,Ltd.	ControlledbyUltimateHoldingCompanyofChongqingChangan
BeijingBaiwangChangfuVehicleSales&ServiceCo.,Ltd.	ControlledbyUltimateHoldingCompanyofChongqingChangan
BeijingBeifangChangfuVehicleSales&ServiceCo.,Ltd.	ControlledbyUltimateHoldingCompanyofChongqingChangan
GuizhouWanjiaAutomobileSalesandServiceCo.LTD	ControlledbyUltimateHoldingCompanyofChongqingChangan
HarbinDonganAutomotiveEngineManufacturingCo.,Ltd.	ControlledbyUltimateHoldingCompanyofChongqingChangan
NanchangYinlunHeat-exchangerCo.,Ltd.	JointventureofJMCG
JianglingMotorHoldingsCo.,Ltd.	AssociateofJMCG
MagnaPTPowertrain(Jiangxi)Co.,Ltd.	AssociateofJMCG
NanchangBaojiangSteelProcessingDistributionCo.,Ltd.	AssociateofJMCG
FaureciaEmissionsControlTechnologies(Nanchang)Co.,Ltd.	AssociateofJMCG
JiangxiJianglingGroupSpecialVehicleCo.,Ltd.	AssociateofJMCG
NanchangJMCGSMRHuaxiangMirrorCo.,Ltd.	AssociateofJMCG
JiangxiLingyunAutomobileIndustryTechnologyCo.,Ltd.	AssociateofJMCG
JiangxiZhonglianIntelligentLogisticsCo.,Ltd.	AssociateofJMCG
NanchangJMCGXinchenAutoComponentCo.,Ltd.	AssociateofJMCG
Dibaotransportationequipment(Nanchang)Co.,Ltd.	AssociateofJMCG
BoschElectricDriveSystems(Nanchang)Co.,Ltd.	AssociateofJMCG
JiangxiJingweiHirainTechnologiesCo.,Inc.	AssociateofJMCG

JIANGLINGMOTORSCORPORATION,LTD.NOTESTOTHEFINANCIALSTATEMENTSFORTHESIXMONTHSENDED30June2025

(AllamountsinRMBYuanunlessotherwisestated)[Englishtranslationforreferenceonly]

8	Relatedpartiesandrelatedpartytransactions(Cont’d)

(5)

(5)	Relatedpartytransactions

(a)

(a)	Purchaseandsalesofgoods,provisionandreceiptofservices

Purchaseofgoods:

Purchaseofgoods:
		Sixmonthsended30June
	Natureofrelatedpartytransactions	2025	2024

MagnaPTPowertrain(Jiangxi)Co.,Ltd.

MagnaPTPowertrain(Jiangxi)Co.,Ltd.	Purchaseofautomobileparts	615,426,603	600,584,838
NanchangJianglingHuaXiangAutoComponentsCo.,Ltd.	Purchaseofautomobileparts	475,708,044	590,768,738
JiangxiJianglingChassisCo.,Ltd.	Purchaseofautomobileparts	456,223,430	393,178,316
NanchangBaojiangSteelProcessingDistributionCo.,Ltd.	Purchaseofrawmaterials	393,721,342	405,780,356
JiangxiZhonglianIntelligentLogisticsCo.,Ltd.	Purchaseofautomobileparts	356,907,375	377,760,824
JiangxiJianglingLearInteriorSystemCo.,Ltd.	Purchaseofautomobileparts	351,786,847	347,400,376
JiangxiJianglingSpecialPurposeVehicleCo.,Ltd.	Purchaseofautomobileparts	324,790,233	264,589,567
NanchangJMCGLianchengAutoComponentCo.,Ltd.	Purchaseofautomobileparts	178,172,213	177,941,031
FaureciaEmissionsControlTechnologies(Nanchang)Co.,Ltd.	Purchaseofautomobileparts	109,443,670	108,646,612
Ford	Purchaseofautomobileparts	105,699,063	780,177,730
NanchangUnistarElectric&ElectronicsCo.,Ltd.	Purchaseofautomobileparts	102,115,941	116,897,654
JiangxiLingyunAutomobileIndustryTechnologyCo.,Ltd.	Purchaseofautomobileparts	99,583,790	97,543,965
NanchangJMCGShishunLogisticsCo.,Ltd.	Purchaseofautomobileparts	98,311,283	87,848,436
HarbinDonganAutomotiveEngineManufacturingCo.,Ltd.	Purchaseofautomobileparts	97,181,277	-
JiangxiJingweiHirainTechnologiesCo.,Inc.	Purchaseofautomobileparts	72,032,364	-
HanonSystems	Purchaseofautomobileparts	61,455,877	66,928,237
NanchangJMCGSMRHuaxiangMirrorCo.,Ltd.	Purchaseofautomobileparts	59,494,853	60,847,557
NanchangYinlunHeat-exchangerCo.,Ltd.	Purchaseofautomobileparts	58,949,235	58,593,286
ChanganFordAutomobileCo.,Ltd.	Purchaseofautomobileparts	51,634,635	68,157,110
Dibaotransportationequipment(Nanchang)Co.,Ltd.	Purchaseofautomobileparts	39,406,356	35,165,670
JiangxiLinggeNon-ferrousMetalDie-castingCo.,Ltd.	Purchaseofautomobileparts	34,941,067	33,360,233
JiangxiJMCGSpecialtyVehiclesCo.,Ltd.	Purchaseofautomobileparts	29,024,057	28,757,183
JiangxiJianglingGroupSpecialVehicleCo.,Ltd.	Purchaseofautomobileparts	19,227,733	23,270,189

8	Relatedpartiesandrelatedpartytransactions(Cont’d)

(5)

(5)	Relatedpartytransactions

(a)

(a)	Purchaseandsalesofgoods,provisionandreceiptofservices

Purchaseofgoods(Cont’d):

JiangxiJMCGBoyabrakesystemCo.,Ltd.

JiangxiJMCGBoyabrakesystemCo.,Ltd.	Purchaseofautomobileparts	18,123,765	11,236,000
NanchangLiandaMachineryCo.,Ltd.	Purchaseofautomobileparts	16,682,458	15,348,196
JianglingAutomobileGroup(Nanchang)FushanEnergyCo.,Ltd.	Purchaseofrawmaterials	14,399,011	15,562,142
JiangxiJMCGShangraoIndustrialCo.,Ltd.	Purchaseofautomobileparts	14,096,083	13,577,892
JiangxiMingfangAutoPartsIndustryCo.,Ltd.	Purchaseofautomobileparts	11,020,726	5,908,983
JiangxiJianglinggroupFuxinAutoPartsCo.,Ltd.	Purchaseofautomobileparts	8,510,953	10,743,777
BoschElectricDriveSystems(Nanchang)Co.,Ltd.	Purchaseofautomobileparts	7,826,726	-
JianglingAoweiAutomobileSparePartCo.,Ltd.	Purchaseofautomobileparts	5,264,524	5,562,150
NanchangJMCGXinchenAutoComponentCo.,Ltd.	Purchaseofautomobileparts	3,157,004	3,127,958
JMCG	Purchaseofautomobileparts	2,511,812	22,525,005
NanchangJianglingGroupFrameCo.,Ltd	Purchaseofautomobileparts	1,831,595	-
JiangxiISUZUEngineCo.,Ltd.	Purchaseofautomobileparts	1,429,344	40,104
FordMotorCo.ThailandLtd.	Purchaseofautomobileparts	1,406,550	68,314,885
JianglingMotorHoldingsCo.,Ltd.	Purchaseofautomobileparts	1,315,804	1,126,880
JiangxiLingruiRecyclingResourcesDevelopmentCorporation	Purchaseofrawmaterials	17,479	16,477,867
AutoAlliance(Thailand)Co.,Ltd.	Purchaseofautomobileparts	625,550	2,915,565
NanchangGearForgingCo.,Ltd.	Purchaseofautomobileparts	939,798	1,061,737
JMCGJingmaMotorsCo.,Ltd.	Purchaseofautomobileparts	18,478	1,038,886
		4,300,414,948	4,918,765,935
TheproductspurchasedbytheGroupfromrelatedpartiesaredividedintotwocategories:purchaseofimportedpartsandpurchaseofdomesticparts.?ThepricingonimportedpartspurchasedfromFordoritssuppliersisbasedontheagreedpricebybothparties;?Thepricingondomesticaccessoriespurchasedfromotherrelatedpartiesisdeterminedthroughquotation,costaccounting,andnegotiationbetweenthetwoparties,andisadjustedregularly.

JIANGLINGMOTORSCORPORATION,LTD.NOTESTOTHEFINANCIALSTATEMENTSFORTHESIXMONTHSENDED30June2025

(AllamountsinRMBYuanunlessotherwisestated)[Englishtranslationforreferenceonly]

8	Relatedpartiesandrelatedpartytransactions(Cont’d)

(5)

(5)	Relatedpartytransactions(Cont’d)

(a)

(a)	Purchaseandsalesofgoods,provisionandreceiptofservices(Cont’d)

Receiptofservices:

Sixmonthsended30June

	Sixmonthsended30June
Natureofrelatedpartytransactions	2025		2024

NanchangJMCGShishunLogisticsCo.,Ltd.

NanchangJMCGShishunLogisticsCo.,Ltd.	Transportation,removalfee,etc.	155,311,266	147,357,676
FordGlobalTechnologies,LLC	Trademarkmanagementfees,technologydevelopment	86,110,654	130,437,253
FordMotorResearch&Engineering(Nanjing)Co.,Ltd.	Designfee,Personnelcosts	66,182,110	73,479,037
Ford	Technicalservicesandpersonnelcosts	41,545,223	27,438,900
JiangxiZhonglianIntelligentLogisticsCo.,Ltd.	Cartagefee,storagefee,etc.	29,651,515	45,941,842
FordMotor(China)Co.,Ltd.	Designfee,Personnelcosts,etc.	36,140,632	27,098,764
JiangxiJMCGIndustryCo.,Ltd.	Meals	16,289,997	16,543,562
JiangxiJianglingMotorsImp.&Exp.Co.,Ltd.	Agencyfee,advertisingfee,etc.	6,740,642	9,290,495
JMCGPropertyManagementCo.	Propertyfees,etc.	6,669,045	7,073,104
JMCGJiangxiEngineeringConstructionCo.,Ltd.	Engineeringconstruction	4,742,946	117,416,875
JMCG	Labourfee,rentalfee,etc.	3,371,580	349,520
JiangxiJingweiHirainTechnologiesCo.,Inc.	Designfees	2,298,200	-
ChongqingAnfuVehicleMarketingCo.,Ltd.	Promotion	1,936,652	1,604,135
MagnaPTPowertrain(Jiangxi)Co.,Ltd.	Designfee,experimentalcosts	1,914,618	190,790
ChinaChanganGroupTianjinSalesCo.,Ltd.	Promotion	1,864,600	500,867
ChongqingChanganAutomobileCo.,Ltd.	Personnelcosts	1,285,866	1,287,423
GuizhouWanfuVehicleSales&ServiceCo.,Ltd.	Promotion	1,027,748	276,632
JiangxiJMCGSpecialtyVehiclesSalesCorporation,Ltd.	Promotion	-	1,180,264
		463,083,294	607,467,139

TheGroup’spricingonservicesreceivedfromrelatedpartiesisbasedontheagreedpricebybothparties.

8	Relatedpartiesandrelatedpartytransactions(Cont’d)

(5)

(5)	Relatedpartytransactions(Cont’d)

(a)

(a)	Purchaseandsalesofgoods,provisionandreceiptofservices(Cont’d)

Salesofgoodsandprovisionofservices:

Sixmonthsended30June

	Sixmonthsended30June
Natureofrelatedpartytransactions	2025		2024

JiangxiJianglingMotorsImp.&Exp.Co.,Ltd.

JiangxiJianglingMotorsImp.&Exp.Co.,Ltd.	Salesofvehiclesandaccessories,etc.	6,011,263,897	5,042,910,917
JiangxiJMCGSpecialtyVehiclesSalesCorporation,Ltd.	Salesofvehicles	103,335,709	49,551,991
JiangxiJMCGSpecialtyVehiclesCo.,Ltd.	Salesofvehiclesandaccessories	61,861,871	35,660,121
ChongqingAnfuVehicleMarketingCo.,Ltd.	Salesofvehiclesandaccessories	60,329,061	55,047,669
JMCGJingmaMotorsCo.,Ltd.	Salesofvehiclesandaccessories	51,445,265	67,278,640
JiangxiLingruiRecyclingResourcesDevelopmentCorporation	Salesofaccessoriesandwastematerials	35,741,568	33,437,495
ChengduWanxingVehicleSales&ServiceCo.,Ltd.	Salesofvehiclesandaccessories	28,676,309	43,979,176
ChinaChanganGroupTianjinSalesCo.,Ltd.	Salesofvehiclesandaccessories	23,377,989	45,621,776
GuizhouWanfuVehicleSales&ServiceCo.,Ltd.	Salesofvehiclesandaccessories	21,092,325	25,337,145
JiangxiJianglingChassisCo.,Ltd.	Salesofaccessories,etc.	18,339,260	17,336,576
NanchangHengouIndustryCo.,Ltd.	Salesofaccessories	15,439,211	8,697,566
NanchangJianglingHuaXiangAutoComponentsCo.,Ltd.	Salesofaccessories,etc.	13,227,215	10,562,548
NanchangJMCGSMRHuaxiangMirrorCo.,Ltd.	Salesofaccessories,etc.	12,793,698	14,319,726
JiangxiJianglingGroupSpecialVehicleCo.,Ltd.	Salesofvehiclesandaccessories	10,849,292	14,599,239
JiangxiZhonglianIntelligentLogisticsCo.,Ltd.	Salesofaccessories,etc.	10,533,862	33,330,915
JiangxiJianglingLearInteriorSystemCo.,Ltd.	Salesofaccessories,etc.	8,478,228	8,935,487
JiangxiISUZUEngineCo.,Ltd.	Salesofaccessories,etc.	7,991,895	16,335,938
NanchangJMCGLianchengAutoComponentCo.,Ltd.	Salesofaccessories,etc.	7,108,114	8,093,548
JiangxiISUZUCo.,Ltd.	Salesofaccessories,etc.	7,060,132	8,510,068

8	Relatedpartiesandrelatedpartytransactions(Cont’d)

(5)

(5)	Relatedpartytransactions(Cont’d)

(a)

(a)	Purchaseandsalesofgoods,provisionandreceiptofservices(Cont’d)

Salesofgoodsandprovisionofservices(Cont’d):

Sixmonthsended30June

	Sixmonthsended30June
Natureofrelatedpartytransactions	2025		2024

JiangxiJMCGIndustryCo.,Ltd.

JiangxiJMCGIndustryCo.,Ltd.	Salesofaccessoriesandwastematerials	4,011,751	1,704,763
JiangxiJianglingSpecialPurposeVehicleCo.,Ltd.	Salesofvehiclesandaccessories	2,446,876	2,800,546
BeijingBaiwangChangfuVehicleSales&ServiceCo.,Ltd.	Salesofvehiclesandaccessories	193,894	11,027,317
GuizhouWanjiaAutomobileSalesandServiceCo.LTD	Salesofvehiclesandaccessories	21,318	7,248,862
BeijingBeifangChangfuVehicleSales&ServiceCo.,Ltd.	Salesofvehiclesandaccessories	230,857	4,420,133
		6,515,849,597	5,566,748,162
TheGroup’spricingongoodssoldtorelatedpartiesisbasedontheagreedpricebybothparties.

(b)

Leases

(i)

(i)	TheleaseincomerecognisedinthecurrentperiodwiththeGroupasthelessor:

Sixmonthsended30June

		Sixmonthsended30June
Nameofthelessee	Typeoftheleasedasset	2025		2024

JianglingMotorHoldingsCo.,Ltd.

JianglingMotorHoldingsCo.,Ltd.	Buildings	8,935	14,727
JiangxiISUZUCo.,Ltd.	Buildings	2,945	-
		11,880	14,727

(ii)

(ii)	Increaseofright-of-useassetsinthecurrentperiodwiththeGroupasthelessee

Sixmonthsended30June

		Sixmonthsended30June
Nameofthelessee	Typeoftheleasedasset	2025		2024

JiangxiJianglingMotorsImp.&Exp.Co.,Ltd.

Buildings

37,552,314

(iii)

InterestcostsonleaseliabilitiesinthecurrentperiodwiththeGroupasthelessee:

Sixmonthsended30June

	Sixmonthsended30June
NameofthelesseeNameofthelesseeTypeoftheleasedasset	2025		2024

JiangxiJianglingMotorsImp.&Exp.Co.,Ltd.

JiangxiJianglingMotorsImp.&Exp.Co.,Ltd.	Buildings	455,655	426,978
JMCG	Buildings	84,749	301,701
FordMotor(China)Co.,Ltd	Buildings	10,804	-
		551,208	728,679

8	Relatedpartiesandrelatedpartytransactions(Cont’d)

(5)

(5)	Relatedpartytransactions(Cont’d)

(c)

(c)	Guaranteereceived

Guarantor

Guaranteedamount

Startingdate

Endingdate

Fullyperformedornot

JMCF

1,171,938

5March2001

30October2029

Notfullyperformed

Asat30June2025,JMCFprovidedguaranteesforsomebankborrowingsoftheGroup,withamaximumguaranteelimitofUSD2,282,123.Asat30June2025,JMCFprovidedborrowingguaranteetothebankborrowingofUSD163,710,equivalenttoRMB1,171,938(31December2024:USD196,453equivalenttoRMB1,412,180)fortheGroup.

(d)	Transferofassets
			Sixmonthsended30June
		Natureofrelatedpartytransactions	2025	2024

ShanxiYunneiPowerGroupCo.,Ltd.

ShanxiYunneiPowerGroupCo.,Ltd.	Salesoffixedassets	8,340	-
JiangxiJMCGIndustryCo.,Ltd.	Salesoffixedassets	3,658	4,442
JMCGJingmaMotorsCo.,Ltd.	Salesoffixedassets	-	44,381
		11,998	48,823

ThepricingontransferofassetsbetweentheGroupandrelatedpartiesisbasedontheagreedpricebybothparties.

ThepricingontransferofassetsbetweentheGroupandrelatedpartiesisbasedontheagreedpricebybothparties.(e)

(e)	Purchaseofassets

Sixmonthsended30June

	Sixmonthsended30June
Natureofrelatedpartytransactions	2025		2024

JiangxiJianglingSpecialPurpose

VehicleCo.,Ltd.

	JiangxiJianglingSpecialPurposeVehicleCo.,Ltd.	Purchaseoffixedassets	19,211,155	2,140,583
	NanchangJMCGLianchengAutoComponentCo.,Ltd.	Purchaseoffixedassets	3,890,000	-
	JiangxiJianglingChassisCo.,Ltd.	Purchaseoffixedassets	2,100,000	-
	MagnaPTPowertrain(Jiangxi)Co.,Ltd.	Purchaseoffixedassets	1,712,116	738,376
	NanchangJianglingHuaXiangAutoComponentsCo.,Ltd.	Purchaseoffixedassets	-	11,714,950
	JMCGJingmaMotorsCo.,Ltd.	Purchaseoffixedassets	-	3,928,253
	JiangxiJianglingSpecialPurposeVehicleCo.,Ltd.	Purchaseoffixedassets	-	2,079,737
			26,913,271	20,601,899
ThepricingonpurchaseofassetsbetweentheGroupandrelatedpartiesisbasedontheagreedpricebybothparties.

8	Relatedpartiesandrelatedpartytransactions(Cont’d)

(5)

(5)	Relatedpartytransactions(Cont’d)

(f)

(f)	Provisionoftechnologysharinganddistributionservice

Sixmonthsended30June

	Sixmonthsended30June
Natureofrelatedpartytransactions	2025		2024

FordElectricMachTechnology(Nanjing)Co.,Ltd.

FordElectricMachTechnology(Nanjing)Co.,Ltd.	Technicalservice	72,814,268	55,406,177
FordGlobalTechnologies,LLC	Technicalservice	15,853,895	-
FordMotor(China)Co.,Ltd.	Distributionandtechnicalservice	13,355,759	12,653,421
JiangxiJianglingMotorsImp.&Exp.Co.,Ltd.	Technicalservice	2,750,566	13,958,000
FordVietnamLimited	Technicalservice	1,452,183	7,250,000
FordMotorResearch&Engineering(Nanjing)Co.,Ltd.	Technicalservice	-	19,141,233
FordTradingCompany,LLC	Technicalservice	-	2,450,000
		106,226,671	110,858,831

TheGroup’spricingontechnologysharingprovidedtorelatedpartiesisbasedontheagreedpricebybothparties.

TheGroup’spricingontechnologysharingprovidedtorelatedpartiesisbasedontheagreedpricebybothparties.(g)

(g)	Remunerationofkeymanagement
		Sixmonthsended30June
		2025	2024
	Remunerationofkeymanagement	7,897,859	9,376,278

(h)

(h)	Interestincome

Sixmonthsended30June

	Sixmonthsended30June
	2025	2024
JMCF	7,873,071	8,461,182

CashatbankoftheGroupdepositedwithJMCFwascalculatedbasedonthebankannualinterestrateforRMBdepositof0.85%to1.55%overthesameperiod(thesixmonthsended30June2024：1.35%to2.25%).

(i)	Interestexpenses
		Sixmonthsended30June
		2025	2024
	FordMotor(China)Co.,Ltd.	2,629,588	-
	JiangxiZhonglianIntelligentLogisticsCo.,Ltd.	-	120,000
	NanchangJMCGShishunLogisticsCo.,Ltd.	-	30,000
		2,629,588	150,000
(j)	Fundsborrowedin

Sixmonthsended30June

Sixmonthsended30June
2025		2024

FordMotor(China)Co.,Ltd.

85,750,000

JIANGLINGMOTORSCORPORATION,LTD.NOTESTOTHEFINANCIALSTATEMENTSFORTHESIXMONTHSENDED30June2025

(AllamountsinRMBYuanunlessotherwisestated)[Englishtranslationforreferenceonly]

8	Relatedpartiesandrelatedpartytransactions(Cont’d)

(6)

(6)	Receivablesfromandpayablestorelatedparties

30June2025

	30June2025				31December2024
Accountsreceivable	Amount		Provisionforbaddebts		Amount		Provisionforbaddebts

JiangxiJianglingMotorsImp.&Exp.Co.,Ltd.

JiangxiJianglingMotorsImp.&Exp.Co.,Ltd.	4,168,764,395	8,456,123	2,984,138,301	6,078,032
JMCGJingmaMotorsCo.,Ltd.	36,989,454	120,370	33,013,773	99,416
JiangxiJMCGSpecialtyVehiclesSalesCorporation,Ltd.	18,114,890	2,721	6,455,121	1,920
JiangxiJMCGSpecialtyVehiclesCo.,Ltd.	15,322,698	2,908	55,452,936	17,776
FordMotor(China)Co.,Ltd.	8,400,157	25,200	6,304,028	18,912
JiangxiISUZUCo.,Ltd.	7,986,005	25,935	3,720,130	11,160
NanchangJianglingHuaXiangAutoComponentsCo.,Ltd.	7,054,757	21,164	5,182,808	15,548
JiangxiZhonglianIntelligentLogisticsCo.,Ltd.	5,849,606	17,549	19,871,496	59,614
JiangxiJianglingLearInteriorSystemCo.,Ltd.	3,961,394	11,884	4,753,891	14,262
JiangxiISUZUEngineCo.,Ltd.	3,660,181	10,981	7,314,839	21,945
NanchangJMCGLianchengAutoComponentCo.,Ltd.	2,763,243	8,290	3,764,288	11,293
JiangxiJianglingGroupSpecialVehicleCo.,Ltd.	1,017,884	153	-	-
FordElectricMachTechnology(Nanjing)Co.,Ltd.	230,000	690	7,673,176	23,020
FordVietnamLimited	483,022	1,449	3,850,000	11,550
	4,280,597,686	8,705,417	3,141,494,787	6,384,448

Otherreceivables

Otherreceivables
JiangxiJianglingMotorsImp.&Exp.Co.,Ltd.	7,754,132		40,744		4,959,843		24,439

30June2025

	30June2025		31December2024
Advancestosuppliers

NanchangBaojiangSteelProcessingDistributionCo.,Ltd.

41,393,500

82,972,689

Prepaymentforprojects

Prepaymentforprojects
JiangxiJianglingMotorsImp.&Exp.Co.,Ltd.	152,334		-

Financingreceivables

Financingreceivables
JiangxiJMCGSpecialtyVehiclesCo.,Ltd.	28,000,979	48,401,766
JMCGJingmaMotorsCo.,Ltd.	13,800,036	8,972,230
JiangxiISUZUEngineCo.,Ltd.	1,254,500	5,496,370
JiangxiJianglingSpecialPurposeVehicleCo.,Ltd.	-	2,079,413
JiangxiISUZUCo.,Ltd.	-	110,000
	43,055,515	65,059,779

Cashatbank

Cashatbank
JMCF	1,360,490,633		1,407,604,416

8	Relatedpartiesandrelatedpartytransactions(Cont’d)

(6)

(6)	Receivablesfromandpayablestorelatedparties(Cont’d)

30June2025

	30June2025		31December2024
Accountspayable

NanchangJianglingHuaXiangAutoComponentsCo.,Ltd.

NanchangJianglingHuaXiangAutoComponentsCo.,Ltd.	450,560,485	636,898,853
JiangxiJianglingLearInteriorSystemCo.,Ltd.	443,558,046	360,356,137
JiangxiZhonglianIntelligentLogisticsCo.,Ltd.	396,990,666	327,079,328
JiangxiJianglingChassisCo.,Ltd.	303,987,652	255,072,881
JiangxiJianglingSpecialPurposeVehicleCo.,Ltd.	262,264,048	178,167,668
MagnaPTPowertrain(Jiangxi)Co.,Ltd.	234,145,249	213,711,414
NanchangJMCGLianchengAutoComponentCo.,Ltd.	171,641,834	185,528,237
HarbinDonganAutomotiveEngineManufacturingCo.,Ltd.	102,693,126	-
NanchangJMCGShishunLogisticsCo.,Ltd.	95,141,108	63,592,060
Ford	77,776,252	250,461,509
JiangxiLingyunAutomobileIndustryTechnologyCo.,Ltd.	67,672,870	48,459,492
FaureciaEmissionsControlTechnologies(Nanchang)Co.,Ltd.	67,624,600	66,628,906
HanonSystems	58,401,360	50,706,474
Dibaotransportationequipment(Nanchang)Co.,Ltd.	57,297,461	55,834,503
JiangxiJMCGSpecialtyVehiclesCo.,Ltd.	52,249,719	26,610,602
NanchangJMCGSMRHuaxiangMirrorCo.,Ltd.	42,186,306	43,878,807
NanchangUnistarElectric&ElectronicsCo.,Ltd.	41,013,865	30,195,971
NanchangYinlunHeat-exchangerCo.,Ltd.	39,297,207	37,417,773
JiangxiLinggeNon-ferrousMetalDie-castingCo.,Ltd.	26,574,147	28,707,639
ChanganFordAutomobileCo.,Ltd.	22,302,340	23,802,841
JiangxiJingweiHirainTechnologiesCo.,Inc.	19,743,709	-
JiangxiJianglingGroupSpecialVehicleCo.,Ltd.	15,138,677	19,674,440
JiangxiJMCGBoyabrakesystemCo.,Ltd.	12,041,807	9,558,647
JiangxiJMCGShangraoIndustrialCo.,Ltd.	11,784,964	7,115,719
NanchangLiandaMachineryCo.,Ltd.	9,784,545	10,731,546
JiangxiJianglinggroupFuxinAutoPartsCo.,Ltd.	9,671,830	3,726,062
JiangxiMingfangAutoPartsIndustryCo.,Ltd.	8,692,279	8,944,064
BoschElectricDriveSystems(Nanchang)Co.,Ltd.	8,319,791	-
JMCG	5,927,040	39,486,926
JianglingAoweiAutomobileSparePartCo.,Ltd.	4,131,291	6,042,853
NanchangJMCGXinchenAutoComponentCo.,Ltd.	3,275,783	2,979,179
JMCGJingmaMotorsCo.,Ltd.	2,624,506	2,606,028
NanchangJianglingGroupFrameCo.,Ltd	1,831,595	1,091,724
JiangxiISUZUEngineCo.,Ltd.	1,611,664	2,758,942
FordMotorCo.ThailandLtd.	1,422,765	6,940,038
JiangxiLingruiRecyclingResourcesDevelopmentCorporation	-	11,463,008
JiangxiJianglingMotorsImp.&Exp.Co.,Ltd.	-	11,243,955
JianglingAutomobileGroup(Nanchang)FushanEnergyCo.,Ltd.	951,806	2,922,507
	3,130,332,393	3,030,396,733

8	Relatedpartiesandrelatedpartytransactions(Cont’d)

(6)

(6)	Receivablesfromandpayablestorelatedparties(Cont’d)

30June2025

	30June2025		31December2024
Otherpayables

FordMotor(China)Co.,Ltd.

FordMotor(China)Co.,Ltd.	233,311,158	144,907,458
Ford	95,852,918	69,903,294
FordGlobalTechnologies,LLC	78,524,824	57,533,353
JiangxiJianglingMotorsImp.&Exp.Co.,Ltd.	59,039,752	51,837,372
FordMotorResearch&Engineering(Nanjing)Co.,Ltd.	53,627,396	61,846,021
JiangxiJianglingSpecialPurposeVehicleCo.,Ltd.	33,479,182	27,838,079
JMCGJiangxiEngineeringConstructionCo.,Ltd.	26,411,601	25,905,249
NanchangJianglingHuaXiangAutoComponentsCo.,Ltd.	26,258,673	35,565,451
NanchangJMCGShishunLogisticsCo.,Ltd.	16,440,167	26,831,215
JMCGPropertyManagementCo.	12,055,102	8,466,756
JiangxiJMCGSpecialtyVehiclesSalesCorporation,Ltd.	9,439,472	8,431,243
JMCG	6,050,389	7,636,166
JiangxiJMCGSpecialtyVehiclesCo.,Ltd.	5,620,020	5,772,611
JiangxiJianglingChassisCo.,Ltd.	5,145,999	1,681,716
JiangxiJMCGIndustryCo.,Ltd.	2,643,705	3,000,344
JiangxiJingweiHirainTechnologiesCo.,Inc.	2,533,557	-
MagnaPTPowertrain(Jiangxi)Co.,Ltd.	1,978,748	1,488,027
NanchangJMCGLianchengAutoComponentCo.,Ltd.	1,769,818	1,908,156
FaureciaEmissionsControlTechnologies(Nanchang)Co.,Ltd.	1,728,294	558,188
JiangxiJianglingLearInteriorSystemCo.,Ltd.	1,705,670	1,518,633
ChongqingChanganAutomobileCo.,Ltd.(hereinafterreferredtoas“ChongqingChangan”)	1,404,500	2,574,845
JiangxiZhonglianIntelligentLogisticsCo.,Ltd.	903,531	5,703,062
GuizhouWanfuVehicleSales&ServiceCo.,Ltd.	71,929	2,937,977
	675,996,405	553,845,216
Contractliabilities

FordGlobalTechnologies,LLC

FordGlobalTechnologies,LLC	160,155,205	-
FordElectricMachTechnology(Nanjing)Co.,Ltd.	68,285,785	62,310,452
JiangxiJianglingMotorsImp.&Exp.Co.,Ltd.	5,550,816	3,930,000
GuizhouWanjiaAutomobileSalesandServiceCo.LTD	1,323,814	1,318,467
JMCGJingmaMotorsCo.,Ltd.	1,001,327	632,699
NanchangHengouIndustryCo.,Ltd.	-	1,860,835
JiangxiJianglingSpecialPurposeVehicleCo.,Ltd.	-	1,506,350
JiangxiJianglingGroupSpecialVehicleCo.,Ltd.	-	1,436,028
	236,316,947	72,994,831
Leaseliabilities

JiangxiJianglingMotorsImp.&Exp.Co.,Ltd.

JiangxiJianglingMotorsImp.&Exp.Co.,Ltd.	24,268,140	30,593,850
JMCG	1,180,864	5,862,186
FordMotor(China)Co.,Ltd.	510,405	589,853
	25,959,409	37,045,889

8	Relatedpartiesandrelatedpartytransactions(Cont’d)

(7)

(7)	Commitmentsinrelationtorelatedparties

Capitalcommitments

Capitalcommitments30June2025

30June2025

31December2024

JMCGJiangxiEngineeringConstructionCo.,Ltd.

1,897,200

6,640,100

GuaranteeofcommitmentsinrelationtorelatedpartiesissetoutinNote8(5)(c).

9	Contingencies

Asat30June2025,theGrouphadnocontingenciesthatneededtobedisclosedinthenotestothefinancialstatements.

10	Commitments

Capitalexpenditurecommitments

CapitalexpenditurecommitmentsCapitalexpenditurescontractedforbytheGroupbutarenotyetnecessarytoberecognisedonthebalancesheetasatthebalancesheetdateareasfollows:

CapitalexpenditurescontractedforbytheGroupbutarenotyetnecessarytoberecognisedonthebalancesheetasatthebalancesheetdateareasfollows:

30June2025

31December2024

Buildings,machineryandequipment

395,073,000

477,562,000

11	Financialinstrumentandrisk

TheGroup’sactivitiesexposeittoavarietyoffinancialrisks,whichmainlycomprisemarketrisk(primarilyincludingforeignexchangeriskandinterestraterisk),creditriskandliquidityrisk.TheabovefinancialrisksandtheGroup’sriskmanagementpoliciestomitigatetherisksareasfollows:

TheBoardofDirectorsisresponsibleforplanningandestablishingtheGroup’sriskmanagementframework,formulatingtheGroup’sriskmanagementpoliciesandrelatedguidelines,andsupervisingtheimplementationofriskmanagementmeasures.TheGrouphasestablishedriskmanagementpoliciestoidentifyandanalysetherisksfacedbytheGroup.Theseriskmanagementpoliciesspecifytheriskssuchasmarketrisk,creditriskandliquidityriskmanagement.TheGroupregularlyevaluatesthemarketenvironmentandchangesintheGroup’soperatingactivitiestodeterminewhethertoupdatetheriskmanagementpoliciesandsystemsornot.TheGroup’sriskmanagementiscarriedoutbytheRiskManagementCommitteeunderpoliciesapprovedbytheBoardofDirectors.TheRiskManagementCommitteeworkscloselywithotherbusinessdepartmentsoftheGrouptoidentify,evaluateandavoidrelevantrisks.TheinternalauditdepartmentoftheGroupconductsperiodicalaudittothecontrolsandproceduresforriskmanagementandreportstheauditresultstotheAuditCommitteeoftheGroup.

(1)	Marketrisk

(a)

(a)	Foreignexchangerisk

TheGroup’smajoroperationalactivitiesarecarriedoutinthemainlandChinaandamajorityofthetransactionsaredenominatedinRMB.TheGroupisexposedtoforeignexchangeriskarisingfromtherecognisedassetsandliabilities,andfuturetransactionsdenominatedinforeigncurrencies,primarilywithrespecttoUSD.TheGroupcontinuouslymonitorstheamountofassetsandliabilities,andtransactionsdenominatedinforeigncurrenciestominimisetheforeignexchangerisk.Asat30June2025,theGroup’sborrowingsdenominatedinforeigncurrencieswereUSD163,710,equivalenttoRMB1,171,938.TheGroup'sotheraccountspayabledenominatedinforeigncurrencieswasUSD14,271,673,equivalenttoRMB102,165,197.TheGroupsignedforwardexchangecontractstomitigatetheforeignexchangerisk(Note5(2),Note5(29)).

11	Financialinstrumentandrisk(Cont’d)

(1)

(1)	Marketrisk(Cont’d)

(a)

(a)	Foreignexchangerisk(Cont’d)

Thefinancialassetsandfinancialliabilitiesdenominatedinforeigncurrencies,whichwereheldbytheGroup,wereexpressedinRMBasat30June2025and31December2024asfollows:

30June2025

30June2025
USD		EUR		Total

Financialassetdenominatedinforeigncurrency-

Financialassetdenominatedinforeigncurrency-
Derivativefinancialassets		4,568,083		-		4,568,083

Financialliabilitiesdenominatedinforeigncurrency-

Financialliabilitiesdenominatedinforeigncurrency-
Currentportionoflong-termborrowings	468,775	-	468,775
Long-termborrowings	703,163	-	703,163
Otherpayables	102,165,197	-	102,165,197
	103,337,135	-	103,337,135

31December2024

	31December2024
	USD	EUR	Total
Financialassetdenominatedinforeigncurrency-
Derivativefinancialassets	12,612,380	-	12,612,380

Financialliabilitiesdenominatedinforeigncurrency-

Financialliabilitiesdenominatedinforeigncurrency-
Currentportionoflong-termborrowings	470,727	-	470,727
Long-termborrowings	941,453	-	941,453
Otherpayables	78,220,386	-	78,220,386
	79,632,566	-	79,632,566

JIANGLINGMOTORSCORPORATION,LTD.NOTESTOTHEFINANCIALSTATEMENTSFORTHESIXMONTHSENDED30June2025

(AllamountsinRMBYuanunlessotherwisestated)[Englishtranslationforreferenceonly]

11	Financialinstrumentandrisk(Cont’d)

(1)

(1)	Marketrisk(Cont’d)

(a)

(a)	Foreignexchangerisk(Cont’d)

Asat30June2025,forvarioustypesofforeigncurrencyfinancialassetsandforeigncurrencyfinancialliabilities,ifRMBappreciatesordepreciatesby10%againsttheUSdollar,andotherfactorsremainunchanged,theGroupwillincreaseordecreaseitstotalprofitbyapproximatelyRMB9,876,905(31December2024:approximatelyRMB6,702,019)

(b)	Interestraterisk

TheGroup’sinterestrateriskmainlyarisesfrominterest-bearingdebtssuchasshort-termborrowingsandlong-termborrowings.ThefinancialliabilitiesoffloatinginterestrateexposetheGrouptocashflowinterestraterisk,andthefinancialliabilitiesoffixedinterestrateexposetheGrouptofairvalueinterestraterisk.TheGroupdeterminestherelativeproportionsoffixed-rateandfloating-ratecontractsbasedontheprevailingmarketenvironment.Asat30June2025,theGroup’sshort-termborrowingsofRMB1,400,000,000(31December2024:RMB1,500,000,000)werefixed-rateborrowings,andlong-termborrowingsofUSD163,710(31December2024:USD196,453)werefixed-ratecontracts,thereforetherewasnosignificantcashflowinterestraterisk.

TheGroupcontinuouslymonitorstheinterestratepositionoftheGroup.Increasesininterestrateswillincreasethecostofnewborrowing,andthereforecouldhaveamaterialadverseeffectontheGroup’sfinancialperformance.Managementmakesadjustmentstimelywithreferencetothelatestmarketconditionsandmayenterintointerestrateswapagreementstomitigateitsexposuretointerestraterisk.Duringthesixmonthsended30June2025and2024,theGroupdidnotenterintoanyinterestrateswapagreements.

Asat30June2025and31December2024,therewasnosignificantdifferencebetweenthefairvalueandthecarryingamountoftheGroup’sbankborrowingswithfixedrates.(2)

(2)	Creditrisk

TheGroup’screditriskmainlyarisesfromcashatbankandonhand,notesreceivable,accountsreceivable,financingreceivables,otherreceivables,long-termreceivablesandderivativefinancialassetsatfairvaluethroughprofitorlossthatarenotincludedintheimpairmentassessmentscope.ThecarryingamountoftheGroup’sfinancialassetsreflectsitsmaximumcreditexposureatthebalancesheetdate.TheGroupexpectsthatthereisnosignificantcreditriskassociatedwithcashatbankandonhandsincetheyaredepositedatstate-ownedbanksandotherlargeormediumsizebankswithgoodreputationandhighcreditrating.TheGroupdoesnotexpectthattherewillbesignificantlossesfromnon-performancebythesebanks.

JIANGLINGMOTORSCORPORATION,LTD.NOTESTOTHEFINANCIALSTATEMENTSFORTHESIXMONTHSENDED30June2025

(AllamountsinRMBYuanunlessotherwisestated)[Englishtranslationforreferenceonly]

11	Financialinstrumentandrisk(Cont’d)

(2)

(2)	Creditrisk(Cont’d)

TheGrouphaspoliciestolimitthecreditexposureonnotesreceivable,accountsreceivable,financingreceivables,otherreceivablesandlong-termreceivables.TheGroupassessesthecreditqualityofandsetscreditlimitsonitscustomersbytakingintoaccounttheirfinancialposition,theavailabilityofguaranteefromthirdparties,theircredithistoryandotherfactorssuchascurrentmarketconditions.ThecredithistoryofthecustomersisregularlymonitoredbytheGroup.Inrespectofcustomerswithapoorcredithistory,theGroupwillusewrittenpaymentreminders,orshortenorcancelcreditperiods,toensuretheoverallcreditriskoftheGroupislimitedtoacontrollableextent.

Asat30June2025,theGrouphadnosignificantcollateralorothercreditenhancementsheldasaresultofthedebtor’smortgage(31December2024:Nil).(3)

(3)	Liquidityrisk

CashflowforecastingisperformedbyeachsubsidiaryoftheGroupandaggregatedbytheGroup.TheGroupmonitorsrollingforecastsoftheGroup’sshort-termandlong-termliquidityrequirementstoensureithassufficientcash,whilemaintainingsufficientheadroomonitsundrawncommittedborrowingfacilitiesfrommajorfinancialinstitutionssothattheGroupdoesnotbreachborrowinglimitsorcovenantsonanyofitsborrowingfacilitiestomeettheshort-termandlong-termliquidityrequirements.

Asatthebalancesheetdate,thefinancialliabilitiesoftheGroupwereanalysedbytheirmaturitydatebelowattheirundiscountedcontractualcashflows:

30June2025

30June2025
Within1year		1to2years		2to5years		Over5years		Total

Short-termborrowings

Short-termborrowings	1,400,000,000	-	-	-	1,400,000,000
Accountspayable	10,276,435,013	-	-	-	10,276,435,013
Otherpayables	5,902,281,454	-	-	-	5,902,281,454
Leaseliabilities	86,286,511	16,217,736	3,464,182	-	105,968,429
Long-termborrowings	484,596	477,564	236,146	-	1,198,306
	17,665,487,574	16,695,300	3,700,328	-	17,685,883,202

31December2024

31December2024
Within1year		1to2years		2to5years		Over5years		Total

Short-term

borrowings

Short-termborrowings	1,500,000,000	-	-	-	1,500,000,000
Accountspayable	10,061,223,944	-	-	-	10,061,223,944
Otherpayables	5,742,026,472	-	-	-	5,742,026,472
Leaseliabilities	90,725,324	84,460,529	10,891,131	-	186,076,984
Long-termborrowings	490,144	483,082	476,023	-	1,449,249
	17,394,465,884	84,943,611	11,367,154	-	17,490,776,649

11	Financialinstrumentandrisk(Cont’d)

(3)

(3)	Liquidityrisk(Cont’d)

(i)

(i)	Asat30June2025,theGroupdidnothaveleasecontractsthathadbeensignedbuthadnotyetbeenperformed.

12	Fairvalueestimates

Thelevelinwhichfairvaluemeasurementiscategorisedisdeterminedbythelevelofthefairvaluehierarchyofthelowestlevelinputthatissignificanttotheentirefairvaluemeasurement:

Level1:Quotedprices(unadjusted)inactivemarketsforidenticalassetsorliabilities.

Level1:Quotedprices(unadjusted)inactivemarketsforidenticalassetsorliabilities.Level2:InputsotherthanquotedpricesincludedwithinLevel1thatareobservablefortheassetorliability,eitherdirectlyorindirectly.

Level2:InputsotherthanquotedpricesincludedwithinLevel1thatareobservablefortheassetorliability,eitherdirectlyorindirectly.Level3:Unobservableinputsfortheassetorliability.

Level3:Unobservableinputsfortheassetorliability.(1)

(1)	Assetsandliabilitiesmeasuredatfairvalueonarecurringbasis

Asat30June2025,theassetsmeasuredatfairvalueonarecurringbasisbytheabovethreelevelswereanalysedbelow:

Level1

Level2

Level3

Total

Financialassets

Financialassets
Derivativefinancialasset-Forwardforeignexchangecontracts	-	4,568,083	-	4,568,083
Financingreceivables-
Notesreceivable	-	310,302,211	-	310,302,211
	-	314,870,294	-	314,870,294

Asat31December2024,theassetsmeasuredatfairvalueonarecurringbasisbytheabovethreelevelswereanalysedbelow:

Level1

Level2

Level3

Total

Financialassets

Financialassets
Derivativefinancialasset-Forwardforeignexchangecontracts	-	12,612,380	-	12,612,380
Financingreceivables-
Notesreceivable	-	302,065,502	-	302,065,502
	-	314,677,882	-	314,677,882

JIANGLINGMOTORSCORPORATION,LTD.NOTESTOTHEFINANCIALSTATEMENTSFORTHESIXMONTHSENDED30June2025

(AllamountsinRMBYuanunlessotherwisestated)[Englishtranslationforreferenceonly]

12	Fairvalueestimates(Cont’d)

(1)

(1)	Assetsandliabilitiesmeasuredatfairvalueonarecurringbasis(Cont'd)

Asat30June2025,theGrouphadnocontinuingliabilitiesatfairvalue.

Asat30June2025,theGrouphadnocontinuingliabilitiesatfairvalue.TheGrouptakesthedateonwhicheventscausingthetransfersbetweenthelevelstakeplaceasthetimingspecificforrecognisingthetransfers.TherewasnotransferbetweenLevel1andLevel2Asat30June2025.

TheGrouptakesthedateonwhicheventscausingthetransfersbetweenthelevelstakeplaceasthetimingspecificforrecognisingthetransfers.TherewasnotransferbetweenLevel1andLevel2Asat30June2025.Thefairvalueoffinancialinstrumentstradedinanactivemarketisdeterminedatthequotedmarketprice;andthefairvalueofthosenottradedinanactivemarketisdeterminedbytheGroupusingvaluationtechnique.

Thefairvalueoffinancialinstrumentstradedinanactivemarketisdeterminedatthequotedmarketprice;andthefairvalueofthosenottradedinanactivemarketisdeterminedbytheGroupusingvaluationtechnique.(2)

(2)	Assetsmeasuredatfairvalueonanon-recurringbasis

Asat30June2025and31December2024,theGrouphadnoassetsmeasuredatfairvalueonanon-recurringbasis.

Asat30June2025and31December2024,theGrouphadnoassetsmeasuredatfairvalueonanon-recurringbasis.(3)

(3)	Assetsandliabilitiesnotmeasuredatfairvaluebutforwhichthefairvalueisdisclosed

TheGroup’sfinancialassetsandliabilitiesmeasuredatamortisedcostmainlycomprisenotesreceivable,accountsreceivable,otherreceivables,long-termreceivables,short-termborrowings,payables,leaseliabilitiesandlong-termborrowings.ThecarryingamountoftheGroup’sfinancialassetsandliabilitiesnotmeasuredatfairvalueisareasonableapproximationoftheirfairvalue.

ThecarryingamountoftheGroup’sfinancialassetsandliabilitiesnotmeasuredatfairvalueisareasonableapproximationoftheirfairvalue.

13	Capitalmanagement

TheGroup’scapitalmanagementpoliciesaimtosafeguardtheGroup’sabilitytocontinueasagoingconcerninordertoprovidereturnsforshareholdersandbenefitsforotherstakeholders,andtomaintainanoptimalcapitalstructuretoreducethecostofcapital.Inordertomaintainoradjustthecapitalstructure,theGroupmayadjusttheamountofdividendspaidtoshareholders,refundcapitaltoshareholders,issuenewsharesorsellassetstoreducedebts.

Inordertomaintainoradjustthecapitalstructure,theGroupmayadjusttheamountofdividendspaidtoshareholders,refundcapitaltoshareholders,issuenewsharesorsellassetstoreducedebts.TheGroup'stotalcapitaliscalculatedas“shareholders’equity”asshownintheconsolidatedbalancesheet.TheGroupisnotsubjecttoexternalmandatorycapitalrequirements,andmonitorscapitalonthebasisofequityratio.

TheGroup'stotalcapitaliscalculatedas“shareholders’equity”asshownintheconsolidatedbalancesheet.TheGroupisnotsubjecttoexternalmandatorycapitalrequirements,andmonitorscapitalonthebasisofequityratio.Asat30June2025and31December2024,theGroup’sequityratiowasasfollows:

Asat30June2025and31December2024,theGroup’sequityratiowasasfollows:

30June2025

31December2024

Totalborrowings

Totalborrowings	1,401,171,938		1,501,412,180
Totalshareholders’equity	10,543,868,112		10,595,344,521

Equityratio

13%

14%

14	NotestotheCompany’sfinancialstatements

(1)

(1)	Accountsreceivable

30June2025

31December2024

Accountsreceivable

Accountsreceivable	6,792,485,882	5,595,070,789
Less:Provisionforbaddebts	(77,047,969)	(74,023,216)
	6,715,437,913	5,521,047,573

(a)

(a)	Theagingofaccountsreceivablewasanalysedasfollows:

30June2025

31December2024

Within1year

Within1year	6,460,195,786	5,415,107,619
Over1year	332,290,096	179,963,170
	6,792,485,882	5,595,070,789

AsofDecember31,2024,accountsreceivablewithsignificantindividualamountsandagingexceedingthreeyearswasanalysedasfollows:

Balance

Reasonandcollectionrisk

SZFJ

34,049,026

TheCompanyevaluatesthereceivablesfromitssubsidiary,SZFJ,onanindividualbasis.Basedonthejudgmentofcreditrisk,thesereceivableswerenotsubjecttosignificantcreditriskandwerenotimpaired.

Company1

66,796,993

Duetotheoperatingdifficultiesofthedefaultingcompanyandseverallawsuitsinvolved,theCompanyconsideredthatthereceivablesweredifficulttocollectandhadthereforemadefullprovisionforbaddebts.

(b)

(b)	Asat30June2025,thetopfiveaccountsreceivablerankedbythebalancesofthedebtorswereanalysedasfollows:

Balance

Amountofprovisionforbaddebts

%oftotalbalance

Thetotalamountofaccountsreceivableinthetopfive

6,519,537,469

75,045,090

95.98%

14	NotestotheCompany’sfinancialstatements(Cont’d)

(1)

(1)	Accountsreceivable(Cont’d)

(c)

(c)	Provisionforbaddebts

Foraccountsreceivable,theCompanymeasuresthelossprovisionbasedonthelifetimeECLregardlessofwhetherthereisasignificantfinancingcomponent.

Foraccountsreceivable,theCompanymeasuresthelossprovisionbasedonthelifetimeECLregardlessofwhetherthereisasignificantfinancingcomponent.Theprovisionforbaddebtsofaccountsreceivablewasanalysedbycategoryasfollows:

Theprovisionforbaddebtsofaccountsreceivablewasanalysedbycategoryasfollows:

30June2025

30June2025
Bookbalance		Provisionforbaddebts
Amount	%oftotalbalance	Amount	Provisionratio

Provisionforbaddebtsontheindividualbasis(i)

Provisionforbaddebtsontheindividualbasis(i)	2,415,852,597	36%	66,796,993	2.76%
Provisionforbaddebtsonthegroupingbasis(ii)	4,376,633,285	64%	10,250,976	0.23%
	6,792,485,882	100%	77,047,969	1.13%

31December2024

31December2024
Bookbalance		Provisionforbaddebts
Amount	%oftotalbalance	Amount	Provisionratio

Provisionforbaddebtsontheindividualbasis(i)

Provisionforbaddebtsontheindividualbasis(i)	2,294,478,118	41%	66,796,993	2.91%
Provisionforbaddebtsonthegroupingbasis(ii)	3,300,592,671	59%	7,226,223	0.22%
	5,595,070,789	100%	74,023,216	1.32%

(i)

(i)	Accountsreceivableforwhichtheprovisionforbaddebtswasprovidedontheindividualbasiswereanalysedfollows:

30June2025

30June2025
Bookbalance	Provisionforbaddebts
Amount	LifetimeECL(%)	Provisionforbaddebts

Receivablesfromrelatedparties

withintheGroupi)

ReceivablesfromrelatedpartieswithintheGroupi)	2,349,055,604	-	-
Receivablesforautomobilesii)	66,796,993	100%	66,796,993
	2,415,852,597		66,796,993

31December2024

31December2024
Bookbalance	Provisionforbaddebts
Amount	LifetimeECL(%)	Provisionforbaddebts

Receivablesfromrelatedparties

withintheGroupi)

ReceivablesfromrelatedpartieswithintheGroupi)	2,227,681,125	-	-
Receivablesforautomobilesii)	66,796,993	100%	66,796,993
	2,294,478,118		66,796,993
i)Asat30June2025,theCompany’saccountsreceivablefromsubsidiaryJianglingFord(Shanghai),SZFJ,GZFJandJMCSwereRMB1,280,618,554,RMB1,015,100,113,RMB6,960,300andRMB46,376,637(31December2024:RMB1,453,456,415,RMB767,264,410,RMB6,960,300andNil).TheCompanyassessedthereceivablesfromsubsidiariesindividuallyandbasedonthejudgmentofcreditrisk,thereceivablesfromsubsidiarieswerenotsubjecttosignificantcreditriskandwerenotoverdueandimpaired.

JIANGLINGMOTORSCORPORATION,LTD.NOTESTOTHEFINANCIALSTATEMENTSFORTHESIXMONTHSENDED30June2025

(AllamountsinRMBYuanunlessotherwisestated)[Englishtranslationforreferenceonly]

14	NotestotheCompany’sfinancialstatements(Cont’d)

(1)

(1)	Accountsreceivable(Cont’d)

(c)

(c)	Provisionforbaddebts(Cont’d)

(i)

(i)	Accountsreceivableforwhichtheprovisionforbaddebtswasprovidedontheindividualbasiswereanalysedfollows(Cont’d):

ii)Asat30June2025,theCompanyassessedtheexpectedcreditlossesoftherelevantaccountsreceivable,whichwereexpectedtobeunrecoverable,andthereforemadeaprovisionforbaddebtsinfullamountingtoRMB66,796,993(31December2024:

RMB66,796,993),whichnoimpactonprofitorlossforthecurrentperiod(thesixmonthsended30June2024：noimpactonprofitorlossforthecurrentperiod).

RMB66,796,993),whichnoimpactonprofitorlossforthecurrentperiod(thesixmonthsended30June2024：noimpactonprofitorlossforthecurrentperiod).(ii)

(ii)	Accountsreceivableforwhichprovisionforbaddebtswasmadeonthegroupingbasiswereanalysedasfollows:

Grouping–Domesticsalesofgeneralautomobiles:

30June2025

30June2025
Bookbalance	Provisionforbaddebts
Amount	LifetimeECL(%)	Amount

Notoverdue

Notoverdue	109,066,194	0.02%	16,380
Overduefor1to30days	1,136,000	0.48%	5,421
Overduefor31to60days	4,562,828	1.19%	54,218
Overduefor61to90days	3,124,000	2.52%	78,876
Overdueover90days	1,691,800	9.00%	152,262
	119,580,822		307,157

31December2024

31December2024
Bookbalance	Provisionforbaddebts
Amount	LifetimeECL(%)	Amount

Notoverdue

Notoverdue	136,590,607	0.03%	40,628
Overduefor1to30days	840,000	0.55%	4,605
Overduefor31to60days	-	-	-
Overduefor61to90days	-	-	-
Overdueover90days	1,074,500	9.00%	96,705
	138,505,107		141,938

Grouping–Exportsalesofgeneralautomobiles:

30June2025
Bookbalance	Provisionforbaddebts
Amount	LifetimeECL(%)	Amount

Notoverdue

4,085,275,267

0.20%

8,170,551

14	NotestotheCompany’sfinancialstatements(Cont’d)

(1)

(1)	Accountsreceivable(Cont’d)

(c)

(c)	Provisionforbaddebts(Cont’d)

(ii)

(ii)	Accountsreceivableforwhichprovisionforbaddebtsismadeonthegroupingbasisareanalysedasfollows(Cont’d):

Grouping–Exportsalesofgeneralautomobiles(Cont’d):

31December2024

31December2024
Bookbalance	Provisionforbaddebts
Amount	LifetimeECL(%)	Amount

Notoverdue

2,933,133,292

0.20%

5,866,267

Grouping-Salesofnewenergyautomobiles:

30June2025

30June2025
Bookbalance	Provisionforbaddebts
Amount	LifetimeECL(%)	Amount

Overdueover90days

562,680

80.00%

450,144

31December2024

31December2024
Bookbalance	Provisionforbaddebts
Amount	LifetimeECL(%)	Amount

Overdueover90days

563,760

80.00%

451,008

Grouping–Automobileparts:

30June2025

30June2025
Bookbalance	Provisionforbaddebts
Amount	LifetimeECL(%)	Amount

Notoverdue

Notoverdue	129,315,319	0.30%	387,946
Overduefor1to30days	10,742,088	0.30%	32,226
Overduefor31to60days	9,434,791	0.50%	47,174
Overduefor61to90days	5,234,958	0.60%	31,410
Overdueover90days	16,487,360	5.00%	824,368
	171,214,516		1,323,124

31December2024

31December2024
Bookbalance	Provisionforbaddebts
Amount	LifetimeECL(%)	Amount

Notoverdue

Notoverdue	202,384,142	0.30%	607,153
Overduefor1to30days	10,256,078	0.30%	30,768
Overduefor31to60days	8,788,453	0.50%	43,942
Overduefor61to90days	5,976,016	0.60%	35,856
Overdueover90days	985,823	5.00%	49,291
	228,390,512		767,010

JIANGLINGMOTORSCORPORATION,LTD.NOTESTOTHEFINANCIALSTATEMENTSFORTHESIXMONTHSENDED30June2025

(AllamountsinRMBYuanunlessotherwisestated)[Englishtranslationforreferenceonly]

14	NotestotheCompany’sfinancialstatements(Cont’d)

(1)

(1)	Accountsreceivable(Cont’d)

(c)

(c)	Provisionforbaddebts(Cont’d)

(iii)

(iii)	TheaccruedamountofprovisionforbaddebtsfortheperiodwasRMB3,024,753.
(d)	Therewasnoprovisionforbaddebtsactuallywrittenoffduringtheperiod.

(e)

(e)	Asat30June2025and31December2024,therewerenoaccountsreceivablepledged.

(2)

(2)	Otherreceivables

30June2025

31December2024

ReceivablesfromJianglingFord(Shanghai)

ReceivablesfromJianglingFord(Shanghai)	181,236,919	89,250,000
ReceivablesfromJMCH	12,858,981	14,542,410
Gasandelectricitybills	8,799,782	18,531,901
Importworkingcapital	5,000,000	3,900,523
Stockrepurchasesecuritiesfunds	1,099,623	-
Receivablesfromrefundofsocialinsurance	-	1,297,367
Others	22,402,496	17,315,330
	231,397,801	144,837,531
Less:Provisionforbaddebts	(192,342)	(220,324)
	231,205,459	144,617,207

TheCompanydidnothaveanyfunddepositedatotherpartiesunderthecentralisedfundmanagementandrepresentedinotherreceivables.

TheCompanydidnothaveanyfunddepositedatotherpartiesunderthecentralisedfundmanagementandrepresentedinotherreceivables.(a)

(a)	Theagingofotherreceivableswasanalysedasfollows:

30June2025

31December2024

Within1year

Within1year	219,141,862	131,654,349
Over1year	12,255,939	13,183,182
	231,397,801	144,837,531

14	NotestotheCompany’sfinancialstatements(Cont’d)

(2)

(2)	Otherreceivables(Cont’d)

(b)

(b)	Provisionforlossesandchangesinbookbalancestatements

Theprovisionforbaddebtsofotherreceivableswereanalysedbycategoryasfollows:

30June2025

30June2025
Bookbalance		Provisionforbaddebts
Amount	%oftotalbalance	Amount	Provisionratio

Provisionforbaddebtsontheindividualbasis(i)

Provisionforbaddebtsontheindividualbasis(i)	195,195,523	84%	-	-
Provisionforbaddebtsonthegroupingbasis(ii)	36,202,278	16%	192,342	0.53%
	231,397,801	100%	192,342	0.08%

31December2024

31December2024
Bookbalance		Provisionforbaddebts
Amount	%oftotalbalance	Amount	Provisionratio

Provisionforbaddebtsontheindividualbasis(i)

Provisionforbaddebtsontheindividualbasis(i)	105,089,777	73%	-	-
Provisionforbaddebtsonthegroupingbasis(ii)	39,747,754	27%	220,324	0.55%
	144,837,531	100%	220,324	0.15%

14	NotestotheCompany’sfinancialstatements(Cont’d)

(2)

(2)	Otherreceivables(Cont’d)

(b)

(b)	Provisionforlossesandchangesinbookbalancestatements(Cont’d):

Stage1

Stage1
12-monthECL(grouping)		12-monthECL(individual)		Total
Bookbalance	Provisionforbaddebts	Bookbalance	Provisionforbaddebts	Provisionforbaddebts

31December2024

31December2024	39,747,754	220,324	105,089,777	-	220,324
Increaseinthecurrentperiod	-	-	90,105,746	-	-
Decreaseinthecurrentperiod	(3,545,476)	-	-	-	-
Baddebtprovisiondecreasedinthecurrentperiod	-	(27,982)	-	-	(27,982)
30June2025	36,202,278	192,342	195,195,523	-	192,342

Asat30June2025and31December2024,theCompanydidnothaveanyotherreceivablesatStage2orStage3.OtherreceivablesatStage1wereanalysedbelow:

(i)

(i)	Asat30June2025and31December2024,theCompany’sotherreceivableswithprovisionforbaddebtsontheindividualbasiswereanalysedbelow:

30June2025

	30June2025
Stage1	Bookbalance		12-monthECLrates		Provisionforbaddebts	Reason

ReceivablesfromJianglingFord

(Shanghai)

ReceivablesfromJianglingFord(Shanghai)		181,236,919	-	-	i)
ReceivablesfromJMCH		12,858,981	-	-	ii)
Stockrepurchasesecuritiesfunds		1,099,623	-	-
		195,195,523	-	-
	TheCompanyassessedthereceivablesfromsubsidiaryandstockrepurchasesecuritiesfundsbasedonthejudgmentofcreditrisk,thereceivableswerenotsubjecttosignificantcreditriskandwerenotoverdueandimpaired.

31December2024

	31December2024
Stage1	Bookbalance		12-monthECLrates		Provisionforbaddebts	Reason

ReceivablesfromJiangling

Ford(Shanghai)

ReceivablesfromJianglingFord(Shanghai)	89,250,000	-	-	i)
ReceivablesfromJMCH	14,542,410	-	-	ii)
Receivablesfromrefundofsocialinsurance	1,297,367	-	-
	105,089,777	-	-

JIANGLINGMOTORSCORPORATION,LTD.NOTESTOTHEFINANCIALSTATEMENTSFORTHESIXMONTHSENDED30June2025

(AllamountsinRMBYuanunlessotherwisestated)[Englishtranslationforreferenceonly]

14	NotestotheCompany’sfinancialstatements(Cont’d)

(2)

(2)	Otherreceivables(Cont’d)

(b)

(b)	Provisionforlossesandchangesinbookbalancestatements(Cont’d):

(ii)

(ii)	Asat30June2025and31December2024,theCompany’sotherreceivableswithprovisionforbaddebtsonthegroupingbasiswereanalysedbelow:

OtherreceivableswithprovisiononthegroupingbasisatStage1:

Asat30June2025,theCompany’sotherreceivableswithprovisionforbaddebtsonthegroupingbasiswereanalysedbelow:

Bookbalance

12-monthECLrates

Provisionforbaddebts

Reason

Provisiononthegroupingbasis:

Provisiononthegroupingbasis:
Gasandelectricitybills	8,799,782	0.53%	46,238	ECL
Importworkingcapital	5,000,000	0.53%	26,272	ECL
Others	22,402,496	0.53%	119,832	ECL
	36,202,278		192,342

Asat31December2024,theCompany’sotherreceivableswithprovisionforbaddebtsonthegroupingbasiswereanalysedbelow:

Bookbalance

12-monthECLrates

Provisionforbaddebts

Reason

Provisiononthegroupingbasis:

Provisiononthegroupingbasis:
Gasandelectricitybills	18,531,901	0.49%	91,314	ECL
Importworkingcapital	3,900,523	0.49%	19,219	ECL
Others	17,315,330	0.63%	109,791	ECL
	39,747,754		220,324

(c)

(c)	ThereversedprovisionforbaddebtsinthecurrentperiodamountedtoRMB27,982.

(d)

(d)	Therewasnoprovisionforbaddebtswrittenoffduringtheperiod.

14	NotestotheCompany’sfinancialstatements(Cont’d)

(2)

(2)	Otherreceivables(Cont’d)

(e)

(e)	Asat30June2025,thetopfiveotherreceivablesrankedbyremainingbalanceswereanalysedasfollows:

Nature

Balance

Aging

%oftotalbalance

Provisionforbaddebts

Company1

Company1	Receivablesfromsubsidiaries	181,236,919	within1year	78%	-
Company2	Receivablesfromsubsidiaries	12,858,981	Over1year	6%	-
Company3	Gasbills	8,799,782	within1year	4%	46,238
Company4	Importworkingcapital,etc	7,754,132	within1year	3%	40,744
Company5	Claimforcompensation	2,166,155	within1year	1%	11,382
		212,815,969		92%	98,364

(3)

(3)	Long-termequityinvestments

30June2025

31December2024

Subsidiaries(a)

Subsidiaries(a)	2,858,943,493	2,858,943,493
Associates(b)	204,645,696	214,449,021
	3,063,589,189	3,073,392,514

Less:Provisionforimpairmentoflong-term

equityinvestmentsforsubsidiaries

Less:Provisionforimpairmentoflong-termequityinvestmentsforsubsidiaries	(2,301,440,553)	(2,301,440,553)
Provisionforimpairmentoflong-termequityinvestmentsforassociates	-	-
	(2,301,440,553)	(2,301,440,553)

762,148,636

771,951,961

-115-

14	NotestotheCompany’sfinancialstatements(Cont’d)

(3)

(3)	Long-termequityinvestments(Cont’d)

(a)

(a)	Subsidiaries

Movementsforthecurrentperiod

	Movementsforthecurrentperiod
31December2024	Additionalinvestments	30June2025	Endingbalanceofprovisionforimpairment	Cashdividendsdeclaredthisperiod	30June2025
Grossamount		Grossamount			Carryingamount

JMCH

JMCH	2,686,943,493	-	2,686,943,493	(2,301,440,553)	-	385,502,940
JMCS	50,000,000	-	50,000,000	-	-	50,000,000
SZFJ	10,000,000	-	10,000,000	-	-	10,000,000
GZFJ	10,000,000	-	10,000,000	-	-	10,000,000
JianglingFord(Shanghai)	102,000,000	-	102,000,000	-	-	102,000,000
	2,858,943,493	-	2,858,943,493	(2,301,440,553)	-	557,502,940

(b)

(b)	Associates

Movementsforthecurrentperiod

Impairmentprovision

31December2024

Increaseinthecurrentperiod

Shareofnetprofit/(loss)underequitymethod

Cashdividendsdeclared

Provisionforimpairment

30June2025

Shareholding(%)

Votingrights(%)

30June2025

31December2024

ThePower

Company

ThePowerCompany	189,544,236	-	(12,067,272)	-	-	177,476,964	40%	40%	-	-
HanonSystems	24,904,785	-	2,263,947	-	-	27,168,732	19.15%	33.33%	-	-
Total	214,449,021	-	(9,803,325)	-	-	204,645,696			-	-

JIANGLINGMOTORSCORPORATION,LTD.NOTESTOTHEFINANCIALSTATEMENTSFORTHESIXMONTHSENDED30June2025

(AllamountsinRMBYuanunlessotherwisestated)[Englishtranslationforreferenceonly]

14	NotestotheCompany’sfinancialstatements(Cont’d)

(4)

(4)	Revenueandcostofsales

Thesixmonthsended30June

Thesixmonthsended30June
2025		2024

Revenuefrommainoperations

Revenuefrommainoperations	17,063,223,739	16,828,092,423
Revenuefromotheroperations	342,945,766	1,057,857,635
	17,406,169,505	17,885,950,058

Thesixmonthsended30June

Thesixmonthsended30June
2025		2024

Costofsalesfrommainoperations

Costofsalesfrommainoperations	15,018,996,560	14,766,862,877
Costofsalesfromotheroperations	220,930,116	409,504,678
	15,239,926,676	15,176,367,555

(a)

(a)	Revenueandcostofsalesfrommainoperations

Thesixmonthsended30June

Thesixmonthsended30June
2025		2024
Revenuefrommainoperations	Costofsalesfrommainoperations	Revenuefrommainoperations	Costofsalesfrommainoperations
			(Restated)

Salesofautomobiles

Salesofautomobiles	16,289,695,231	14,433,831,338	16,001,794,796	14,131,205,491
Salesofautomobileparts	766,519,823	578,156,537	787,392,775	596,752,534
Automobilemaintenanceservicesandothers	7,008,685	7,008,685	38,904,852	38,904,852
	17,063,223,739	15,018,996,560	16,828,092,423	14,766,862,877

(b)

(b)	Revenueandcostofsalesfromotheroperations

Thesixmonthsended30June

Thesixmonthsended30June
2025		2024
Revenuefromotheroperations	Costofsalesfromotheroperations	Revenuefromotheroperations	Costofsalesfromotheroperations

Salesof

materials

Salesofmaterials	219,772,653	197,371,409	326,770,645	312,926,556
Others	123,173,113	23,558,707	731,086,990	96,578,122
	342,945,766	220,930,116	1,057,857,635	409,504,678

14	NotestotheCompany’sfinancialstatements(Cont’d)

(4)

(4)	Revenueandcostofsales(Cont’d)

(c)

(c)	ThebreakdownoftheCompany’srevenuebyproductandservicetransfertimewasasfollows:

Thesixmonthsended30June2025

Thesixmonthsended30June2025
Automobiles	Automobileparts	Automobilemaintenanceservices,etc.	Materialsandothers	Total

Revenuefrommainoperations

Revenuefrommainoperations	16,289,695,231	766,519,823	7,008,685	-	17,063,223,739
Including:Recognisedatatimepoint	16,289,695,231	766,519,823	-	-	17,056,215,054
Recognisedwithinacertainperiod	-	-	7,008,685	-	7,008,685
Revenuefromotheroperations(i)	-	-	-	342,945,766	342,945,766
	16,289,695,231	766,519,823	7,008,685	342,945,766	17,406,169,505

Thesixmonthsended30June2024

Thesixmonthsended30June2024
Automobiles	Automobileparts	Automobilemaintenanceservices	Materialsandothers	Total

Revenuefrommainoperations

Revenuefrommainoperations	16,001,794,796	787,392,775	38,904,852	-	16,828,092,423
Including:Recognisedatatimepoint	16,001,794,796	787,392,775	-	-	16,789,187,571
Recognisedwithinacertainperiod	-	-	38,904,852	-	38,904,852
Revenuefromotheroperations(i)	-	-	-	1,057,857,635	1,057,857,635
	16,001,794,796	787,392,775	38,904,852	1,057,857,635	17,885,950,058

(i)

(i)	TheCompany’srevenuefromotheroperationsincludessalesofmaterialsandtechnicalserviceprovided.Revenuefromsalesofmaterialsisrecognisedatacertaintimepoint,andrevenuefromtechnicalserviceprovidedisrecognisedwithinacertainperiod.

Asat30June2025,theamountofrevenuecorrespondingtotheperformanceobligationsthattheCompanyhadcontractedbuthadnotcommencedorcompletedwasRMB272,153,347,whichtheCompanyexpectedthatwouldberecognisedasrevenuein2025.

(5)	Investmentincome

Thesixmonthsended30June

Thesixmonthsended30June
2025		2024

Investmentgainfromforwardexchange

settlement

Investmentgainfromforwardexchangesettlement	10,631,603	5,982,935
Lossesondiscountoffinancingreceivableseligibleforderecognition	(1,422,995)	-
Lossesonlong-termequityinvestmentsunderequitymethod	(9,803,325)	(2,527,255)
	(594,717)	3,455,680

ThereisnosignificantrestrictionontheremittanceofinvestmentincometotheCompany.

JIANGLINGMOTORSCORPORATION,LTD.SUPPLEMENTARYINFORMATIONTOTHEFINANCIALSTATEMENTSFORTHESIXMONTHSENDED30June2025

(AllamountsinRMBYuanunlessotherwisestated)[Englishtranslationforreferenceonly]

1	Statementofnon-recurringprofitorloss

Thesixmonthsended30June

Thesixmonthsended30June
2025		2024

Governmentgrantsrecognisedinprofitorlossforthecurrentperiod,exceptthosethatarecloselyrelatedtoordinaryactivitiesandconformtothenationalpoliciesandregulations,andaregrantedinaccordancewithcertainstandardsandhaveacontinuousimpactontheCompany’sprofitorloss

Governmentgrantsrecognisedinprofitorlossforthecurrentperiod,exceptthosethatarecloselyrelatedtoordinaryactivitiesandconformtothenationalpoliciesandregulations,andaregrantedinaccordancewithcertainstandardsandhaveacontinuousimpactontheCompany’sprofitorloss	202,242,182	76,378,976
Gainsorlossesondisposalofnon-currentassets	18,414,462	10,591,898
Fundoccupationfeesreceivedfromnon-financialinstitutions	1,240,008	3,230,604
Gainsorlossesarisingfromchangesinfairvalueoffinancialassetsandliabilitiesheld,andgainsorlossesondisposalofrelatedfinancialassetsandliabilities,exceptfortheeffectivehedgingbusinessrelatedtothenormaloperation	3,713,253	13,584,473
Netamountofothernon-operatingincomeandexpenses	1,448,653	(4,020,858)
One-offexpensesincurredduetodiscontinuationofrelatedbusinessactivities	(86,573)	(523,093)
	226,971,985	99,242,000
Effectofincometax	(33,644,788)	(15,639,039)
Effectofgainsorlossesonminorityinterests(netoftax)	(515,356)	704,668
	192,811,841	84,307,629

(1)

(1)	Basisforpreparationofstatementofnon-recurringprofitorloss

In2023,theCSRCissuedtheExplanatoryAnnouncementNo.1onInformationDisclosurebyCompaniesOfferingSecuritiestothePublic-Non-recurringProfitorLoss(Revisedin2023)(hereinafter“2023ExplanatoryAnnouncementNo.1”),whichcameintoeffectfromthedateofpromulgation.Undertherequirementsinthe2023ExplanatoryAnnouncementNo.1,non-recurringprofitorlossreferstothosearisesfromtransactionsandeventsthatarenotdirectlyrelevanttoordinaryactivities,orthatarerelevanttoordinaryactivities,butareextraordinaryandnotexpectedtohappenfrequentlythatwouldhaveaninfluenceonthefinancialstatementsusers’makingeconomicdecisionsbasedonthefinancialperformanceandprofitabilityofanenterprise.

JIANGLINGMOTORSCORPORATION,LTD.SUPPLEMENTARYINFORMATIONTOTHEFINANCIALSTATEMENTSFORTHESIXMONTHSENDED30June2025

(AllamountsinRMBYuanunlessotherwisestated)[Englishtranslationforreferenceonly]

2	Returnonnetassetsandearningspershare

Weightedaveragereturnonnetassets

(%)

Weightedaveragereturnonnetassets(%)		Earningspershare
		Basicearningspershare		Dilutedearningspershare
Thesixmonthsended30June
2025	2024	2025	2024	2025	2024

Netprofitattributableto

ordinaryshareholders

oftheCompany

NetprofitattributabletoordinaryshareholdersoftheCompany	6.30%	8.29%	0.85	1.04	0.85	1.04
NetprofitattributabletoordinaryshareholdersoftheCompany,netofnon-recurringprofitorloss	4.64%	7.51%	0.63	0.94	0.63	0.94

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