长安Ｂ：2021年半年度报告（英文版）.PDF
Chongqing Changan Automobile Company Limited 2021 Semi-annual Report Chongqing Changan Automobile Company Limited 2021 Semi-annual Report August 2021Chongqing Changan Automobile Company Limited 2021 Semi-annual Report 1 Chapter 1 Important Notice, Contents, and Definitions The Board of Directors, the Board of Supervisors, Directors, Supervisors and Senior Executives of the company hereby guarantee that no false or misleading statement or major omission was made to the materials in this report and that they will assume all the responsibilities, individually and jointly, for the trueness, accuracy and completeness of the contents of this report. The Chairman of the Board Zhu Huarong, the Chief Financial Officer Zhang Deyong and the responsible person of the accounting institution (Accountant in charge) Chen Jianfeng hereby declare that the Financial Statements enclosed in this annual report are true, accurate and complete. All the directors attended the board meeting for reviewing the semi-annual report. The forward-looking statements such as future plans and development strategies involved in this report do not constitute the companys substantial commitments to investors. Investors and related parties should maintain adequate risk awareness and understand the differences between plans, forecasts and commitments. The possible risks and countermeasures of the company are described in the third section Management Discussion and Analysis of this report. Investors are kindly requested to pay attention to the relevant content. For the first half of 2021, the Company has no plans of cash dividend, no bonus shares and no share converted from capital reserve. The report shall be presented in both Chinese and English, and should there be any conflicting understanding of the text, the Chinese version shall prevail. Chongqing Changan Automobile Company Limited 2021 Semi-annual Report 2 CONTENTS Chapter 1 Important Notice, Contents, and Definitions . 1 Chapter 2 Company Profile & Main Financial Indexes . 4 Chapter 3 Analysis of Main Business . 8 Chapter 4 Corporate Governance . 18 Chapter 5 Environment and social responsibility . 20 Chapter 6 Important Matters . 23 Chapter 7 Changes in the shareholding of the company and shareholders . 28 Chapter 8 Preferred shares . 35 Chapter 9 Bonds . 35 Chapter 10 The Financial Statements . 36 Chongqing Changan Automobile Company Limited 2021 Semi-annual Report 3 Documents for Future Reference 1. Financial statements, with the signatures and seals of legal representative, person in charge of accounting, and person in accounting agency; 2. All original copies of company documents and announcements disclosed in China Securities Journal, Securities Time, Securities Daily, Shanghai Securities News, and Hong Kong Commercial Daily in reporting period. Definitions Items Definitions Changan Auto., the Company Refers to Chongqing Changan Automobile Company Limited South Industries Refers to China South Industries Group Co., Ltd., the Companys actual controller China Changan Refers to China Changan Automobile Group Co., Ltd., old name: China South Industries automobile Co., Ltd., a subsidiary company of South Industries Changan Industry Refers to Chongqing Changan Industry (Group) Co., Ltd., old name: Changan Automobile (Group) Co., Ltd., a subsidiary company of South Industries Nanjing Changan Refers to Nanjing Changan Automobile Co., Ltd., a subsidiary company of the Company Hebei Changan Refers to Hebei Changan Automobile Co., Ltd., a subsidiary company of the Company Hefei Changan Refers to Hefei Changan Automobile Co., Ltd., a subsidiary company of the Company Changan Bus Refers to Baoding Changan Bus Co., Ltd., a subsidiary company of the Company International Company Refers to Chongqing Changan Automobile International Sale Service Co., Ltd., a subsidiary company of the Company Changan Ford Refers to Changan Ford Automobile Co., Ltd., a JV of the Company Changan Mazda Refers to Changan Mazda Automobile Co., Ltd., a JV of the Company CME Refers to Changan Mazda Engine Co., Ltd., a JV of the Company Jiangling Holding Refers to Jiangling Holding Co., Ltd., an associate of the Company Changan Finance Refers to Changan Automobile Finacing Co., Ltd., an associate of the Company South Industries Finance Refers to China South Industries Group Finance Co., Ltd., a subsidiary company of South Industries UPI Refers to United Prosperity (Hong Kong)Investment Co., Ltd., a subsidiary company of China Changan Hafei Group Refers to Harbin Hafei Automobile Industry Group Co., Ltd., a subsidiary company of China Changan CMAL Refers to Chongqing Changan Minsheng APLL Logistics Co., Ltd., an associate of China Changan Chongqing Changan Automobile Company Limited 2021 Semi-annual Report 4 Chapter 2 Company Profile & Main Financial Indexes I. Basic Information Stock abbreviation Changan Automobile 、Changan B Stock Code 000625、200625 Listed on Shenzhen Stock Exchange Company in Chinese name 重庆长安汽车股份有限公司 Company abbreviation in Chinese name 长安汽车 Company name in English Chongqing Changan Automobile Company Limited Legal representative Zhu Huarong II. Contact Information Secretary of the Board of Directors Securities affairs representative Name Li Jun Contact address No. 260, East Jianxin Road, Jiangbei District, Chongqing Telephone 023-67594008 Fax 023-67866055 E-mail address III. Others 1. Way of contact Whether registration address, office address and its post code as well as website and email of the Company changed in the reporting period or not Applicable Not applicable The registration address, office address and post code as well as website and email of the Company did not change in the reporting period. See more details in Annual Report 2020. 2. Information disclosure and preparation place Whether information disclosure and preparation place changed in reporting period or not Applicable Not applicable The newspaper appointed for information disclosure, the website for the publishment of the semi-annual report appointed by Chongqing Changan Automobile Company Limited 2021 Semi-annual Report 5 CSRC and the preparation place for semi-annual report did not change in the reporting period. See more details in Annual Report 2020. 3. Other relevant information Whether other relevant information changed in the reporting period or not Applicable Not applicable IV. Summary of Accounting Data and Financial Indexes Does the company need to retrospectively adjust or restate the accounting data of previous years Yes No Reasons for retrospective adjustment or restatement: changes in accounting policies In RMB Yuan The reporting period The same period of last year Variance (%) Before adjustment After adjustment After adjustment Operating income 56,784,631,899.07 32,781,657,479.10 32,781,657,479.10 73.22% Net profit attributable to shareholders of the Company 1,729,245,208.60 2,602,166,402.68 2,602,166,402.68 -33.55% Net profit excluding non-recurring gains and losses attributable to shareholders of listed company 739,756,972.08 -2,616,888,301.47 -2,616,888,301.47 128.27% cash flow from operating activities 17,698,826,870.37 6,912,586,693.60 6,912,586,693.60 156.04% Basic earnings per share 0.32 0.54 0.54 -40.74% Diluted earnings per share N/A N/A N/A N/A Weighted average return on net assets 3.22% 5.74% 5.74% Down 2.52 Points At the end of the reporting period End of 2020 Variance (%) Before adjustment After adjustment After adjustment Total assets 130,457,601,160.37 120,915,805,349.52 118,265,186,394.85 10.31% Net assets attributable to shareholders of listed company 54,145,677,385.61 53,410,193,236.09 53,410,193,236.09 1.38% Reasons for changes in accounting policies and corrections of accounting errors In order to make the companys accounting more accurate, objective and fair to reflect the companys financial status and operating results, the companys government subsidy accounting policy is changed from January 1, 2021, from the total amount method to the net amount method. For details, see Announcement on Changes in Accounting Policies (Announcement Number: 2021-43). Chongqing Changan Automobile Company Limited 2021 Semi-annual Report 6 V. The differences between domestic and international accounting standards 1. Simultaneously pursuant to both Chinese accounting standards and international accounting standards disclosed in the financial reports of differences in net income and net assets. Applicable Not applicable No difference 2. Differences of net profit and net assets disclosed in financial reports prepared under overseas and Chinese accounting standards. Applicable Not applicable No difference 3. Explanation of the differences in accounting data under domestic and overseas accounting standards Applicable Not applicable VI. Non-recurring items and amounts Applicable Not applicable In RMB Yuan Item Amount Illustration Non-recurring items and amounts(including accrued reversal assets impairment part) 601,066,861.33 Government subsidies included in the profit and loss of the current period (Except closely related to business operations, in accordance with the national unified standard quota or quantitative enjoyment of government subsidies) 517,107,352.50 Gains and losses from entrusted loans 6,959,316.06 In addition to the effective hedging business related to the normal business of the company, the gains and losses from changes in fair value arising from the holding of trading financial assets, derivative financial assets, trading financial liabilities, derivative financial liabilities, and disposal of transactional financial assets, derivative finance Investment income from assets, trading financial liabilities, derivative financial liabilities and other debt investments 15,734,698.73 Other non-business income and expenditures other than the above items 26,880,243.65 Interest on deferred payment of funds received by non-financial enterprises 17,542,698.15 Subtract: Influenced amount of income tax 88,222,076.78 Influenced amount of miniority shareholders equity (after tax) 107,580,857.12 Total 989,488,236.52 - According to “Public offering of securities information disclosure of the companys information disclosure announcement No. 1 Chongqing Changan Automobile Company Limited 2021 Semi-annual Report 7 non-recurring gains and losses” defined non-recurring items ,and“Public offering of securities information disclosure of the companys information disclosure announcement No. 1 - non-recurring gains and losses”The items, defined as recurring items, are listed in the announcement No. 1 and shall be explained. Applicable Not applicable The company in the reporting period does not base on the definition and listing of “Public offering of securities information disclosure of the companys information disclosure announcement No. 1 non-recurring gains and losses” about non-recurring gains and losses to define a case of recurring profit or loss. Chongqing Changan Automobile Company Limited 2021 Semi-annual Report 8 Chapter 3 Analysis of Main Business I. The main business of the Company in the reporting period （1） Business Overview The company belongs to the automobile manufacturing industry. Its main business covers the R&D, manufacturing and sales of vehicles (including passenger cars and commercial vehicles) and the R&D and production of engines. The company focuses on the industrial development trend, actively develops new businesses such as mobile travel, automobile living services, new marketing and power exchange services, and accelerates the exploration of industrial finance, used cars and other fields, to build a more comprehensive industrial ecology. Changan automobile always adheres to the mission of leading the car civilization for the benefit of human life, and the concept of energy conservation, environmental protection, scientific and technological intelligence, vigorously develops new energy and smart cars, guides the automobile civilization by the use of scientific and technological innovation, and provides customers with high quality products and services. After years of development, the company owns many famous brands such as Changan passenger car, Oushang automobile, Kaicheng automobile, Changan Ford, Changan Mazda and so on. Up to now, the company has successfully launched a series of classic brands such as CS series, Eado series, UNI， Oushang series, and Shenqi series; a series of famous JV products such as all new Focus, Escort, Escape, Explorer， Adventurer， aviator,Axela, CX-5, CX-30 and so on. At the same time, The company has launched new energy vehicles such as Eado EV, new Benben EV and CS55 E-Rock, which are admired by the market and loved by the consumers. The company adopts the business model of paying equal attention to autonomous business and joint ventures, carries out entity operation on its own automobile brand businesses such as Changan Automobile, Oushang automobile and Kaicheng automobile, and firmly creates its own classic brands; The company controls the investment of Changan Ford, Changan Mazda and other joint ventures, and continues to deepen mutual trust and cooperation with partners. （2） Industry situation In the first half of 2021, under the backdrop of the uncertainty of the world economic recovery and the imbalance of the world economy, thanks to the constraint of the Novel Coronavirus Pneumonia and the fast resumption of production and recovery, Chinas economy has recovered steadily in the first half of 2021, and the trend of the economic development has been stable and strong. The fundamentals of our economy have been unchanged for a long time. In the process of transformation and development, the automobile industry is affected by factors such as the rise in commodity prices and the shortage of chips, superimposed on the market recovery after the epidemic last year. Although the growth momentum remained year-on-year, the market growth margin slowed down. The specific situation of the industry is as follows: In the first half of 2021, the cumulative production and sales of the automobile industry reached 12.569 million and 12.891 million respectively, with a year-on-year increase of 24.2% and 25.6% respectively (the production and sales volume increased by 3.4% and 4.4% respectively compared with the same period in 2019). The year-on-year growth of sales volume has begun to decline since March. The sales volume of passenger cars reached 10.07 million, with a year-on-year increase of 27.0%, higher than the overall growth rate of the industry; the sales volume of sedans is 4.643 million, a year-on-year increase of 26.2%; SUV sales volume was 4.731 million, a year-on-year increase of 28.6%, 1.6 percentage points higher than that of the passenger car industry. The sales volume of commercial vehicles reached 2.884 million, a year-on-year increase of 20.9%, and the growth rate fell month by month from February, ending the momentum of continuous growth since February 2020. The market sha
