江 铃Ｂ：2012年第三季度报告全文（英文版） .ppt

shares name:jiangling motorsshares code:000550no.:2012-040 jiangling b200550 jiangling motors corporation, ltd. 2012 third quarter report 1important note 1.1 the board of directors and its members, the supervisory board and its members, and the senior executives are jointly and severally liable for the truthfulness, accuracy and completeness of the information disclosed in the report and confirm that the information disclosed herein does not contain false statements, misrepresentations or major omissions. 1.2 the directors, supervisors, and senior management undertake and have no objection to the truthfulness, accuracy and completeness of the contents of the third quarter report. 1.3 all the directors were present at the board meeting. 1.4 the financial statements in this quarterly report are not audited. 1.5 chairman wang xigao, president yuan-ching chen, cfo dennis leu and chief of finance department, ding ni, confirm that the financial statements in this quarterly report are truthful and complete. 1.6 all financial data in this quarterly report are prepared under international financial reporting standards (ifrs) unless otherwise specified. 1 0 - - 2brief introduction 2.1 main accounting data and financial indicators unit: rmb000 at the end of reporting period at the end of the previous year change (%) total assets11,854,70611,819,8550.29 shareholders equity attributable to the equity7,743,0767,311,7685.90 holders of the company share capital net assets per share 863,214863,214 attributable to the equity holders of the company 8.978.475.90 (rmb) reporting period (2012 third quarter) change (%) beginning of year to end of reporting period change (%) revenue4,024,256-1.5612,745,785-4.24 profit attributable to the equity holders of the334,774-16.281,173,672-20.42 company net cash generated from operating activities net cash flow per share from operating activities (rmb) 1,250,508 1.45 188.80 188.80 basic earnings per share (rmb) diluted earnings per share (rmb) weighted average return on net asset ratio (%) 0.39 0.39 4.73 -16.28 -16.28 down 1.65 percentage points 1.36 1.36 15.18 -20.42 -20.42 down 6.79 percentage points 2 2.2 total number of shareholders and top ten shareholders holding unlimited tradable shares as at the end of reporting period total shareholders at the jmc had 25,352 shareholders, including 19,345 a-share end of reporting periodholders and 6,007 b-share holders, as of september 30, 2012. top ten shareholders holding unlimited tradable shares name jiangling motor holding co., ltd. ford motor company huaan tactical select securities investment fund shanghai automotive co., ltd. national social security fund- portfolio 102 dragon billion china master fund jpmblsa re ftif templeton china fund gti 5497 new china select securities investment fund invesco funds sicav gaoling fund,l.p. shares as of september 30, 2012 354,176,000 258,964,200 25,432,973 13,019,610 11,234,091 8,723,646 5,035,263 4,877,661 4,698,109 3,712,073 share type a share b share a share a share a share b share b share a share b share b share 3major events 3.1 causes and explanations of major changes of financial indicators compared with those of previous reporting period applicable not applicable in the first nine months of 2012, the company achieved a sales volume of 148,135 units, including 51,803 jmc-brand trucks, 55,481 jmc-brand pickups and suvs, and 40,851 ford-brand commercial vehicles. total sales volume was down 1% from the same period last year. under ifrs, revenue and net profit for the first nine months of 2012 was rmb 12,746 million and rmb 1,174 million, down 4% and 20% respectively from the same period last year. in the third quarter of 2012, net profit was rmb 335 million, down 16.3% from the same period last year, primarily reflecting strategic pricing actions, mix changes and higher product development expenses. deferred income tax assets at the end of reporting period decreased by rmb 79 million, down 31% from the end of 2011, primarily reflecting adjustment of income tax rate from 25% to 15% due to the company passing the reexamination of hi-tech enterprise. held-to-maturity investment at the end of reporting period increased by rmb 100 million, primarily reflecting central bank bills increase. administrative expenses in the third quarter increased by rmb 134 million, up 71% compared with the same period last year, primarily reflecting product development expenses increase. 3 income tax expense in the third quarter decreased by rmb 20 million, down 31% compared with the same period last year, primarily reflecting profit decrease. 2012 year-to-date net cash generated from operating activities was rmb 1,251 million, increased by rmb 818 million, up 189% compared with the same period last year, reflecting primarily favorable working capital changes. 2012 year-to-date net cash used in investing activities was rmb 1,025 million, increased by rmb 535 million, up 109% compared with the same period last year, mainly reflecting higher xiaolan site program investments. 3.2 analysis of major events, their impacts and resolutions 3.2.1 abnormal audit report applicablenot applicable 3.2.2 funds provided for the controlling shareholder and its related parties, or outside guarantee in breach of the laws and regulations applicablenot applicable 3.2.3 signature and implementation of major contract regarding routine operation activities applicable 3.2.4 others applicable not applicable not applicable 3.3 commitments made by the company or the shareholder holding 5% or more of the company shares during the reporting period applicable not applicable 3.4 warning and explanations as to the situation that accumulated net profit during the period from year beginning to the end of next reporting period may be negative or, compared with the same period last year, may have a substantial change applicable not applicable 3.5 explanations on other major events 3.5.1 securities investments applicablenot applicable 3.5.2 securities derivates investment applicablenot applicable 4 3.5.3 external research and media interviews with the company in the reporting period dateplacecommunicationtype ofobjectinformation discussed methodobjectand sources offered july 4, 2012in the company oral communication institutionthree analysts from golden sun securities company, jmc operating highlights founder securities co., ltd., jiafu longzhou consulting company august 29, 2012 in the company oral communication institutiontwo analysts from first state investments (hong jmc operating highlights kong) limited september 27, 2012 in the company oral communication institutionan analyst from huaan fund management co., ltd. jmc operating highlights 3.5.4 issuance of corporation bond applicablenot applicable board of directors jiangling motors corporation, ltd. october 27, 2012 5 - - appendix jiangling motors corporation, ltd. consolidated balance sheet (prepared under international financial reporting standards) (all amounts in rmb thousands) assets non-current assets property, plant and equipment lease prepayment intangible assets investments in associates deferred income tax assets current assets financial assets for trading inventories trade and other receivables held-to-maturity investment cash and cash equivalents total assets equity capital and reserves attributable to the companys equity holders share capital share premium other reserves retained earnings non-controlling interests total equity liabilities non-current liabilities borrowings retirement benefit obligations warranty provisions current liabilities financial liabilities held for trading trade and other payables current income tax liabilities borrowings retirement benefits obligations total liabilities total equity and liabilities 30 september 2012* 3,889,823 266,455 17,088 23,714 171,621 4,368,701 12 1,218,166 1,333,621 100,000 4,834,206 7,486,005 11,854,706 863,214 816,609 457,650 5,605,603 7,743,076 104,102 7,847,178 6,021 42,931 158,159 207,111 3,782,493 6,795 415 10,714 3,800,417 4,007,528 11,854,706 31 december 2011 3,271,690 271,347 21,954 17,851 250,182 3,833,024 - 1,140,253 1,461,601 5,384,977 7,986,831 11,819,855 863,214 816,609 457,650 5,174,295 7,311,768 115,352 7,427,120 6,189 52,198 140,855 199,242 6,696 4,167,795 7,875 413 10,714 4,193,493 4,392,735 11,819,855 *: unaudited financial indexes 6 jiangling motors corporation, ltd. consolidated income statement (prepared under international financial reporting standards) (all amounts in rmb thousands) revenue sales tax cost of sales gross profit distribution costs administrative expenses other income/(expenses) operating profit finance income finance costs finance income -net share of profit of associates profit before income tax income tax expense profit for the period 2012.7.1- 2012.9.30* 4,024,256 (101,409) (3,008,147) 914,700 (254,949) (322,404) (1,580) 335,767 46,597 (1,443) 45,154 2,451 383,372 (44,501) 338,871 2011.7.1- 2011.9.30* 4,087,971 (125,137) (3,074,365) 888,469 (270,320) (188,552) 1,954 431,551 38,978 (1,276) 37,702 1,728 470,981 (64,928) 406,053 2012.1.1- 2012.9.30* 12,745,785 (357,379) (9,599,166) 2,789,240 (806,530) (697,595) 6,869 1,291,984 162,259 (1,951) 160,308 5,863 1,458,155 (264,997) 1,193,158 2011.1.1- 2011.9.30* 13,309,511 (387,856) (10,066,862) 2,854,793 (672,713) (549,745) 2,633 1,634,968 119,411 (1,846) 117,565 4,957 1,757,490 (253,037) 1,504,453 profit attributable to: equity holders of the company non-controlling interests other comprehensive income 334,774 4,097 338,871 - 399,891 6,162 406,053 - 1,173,672 19,486 1,193,158 - 1,474,909 29,544 1,504,453 - total comprehensive income for the period338,871406,0531,193,1581,504,453 total comprehensive income attributable to: equity holders of the company non-controlling interests 334,774 4,097 338,871 399,891 6,162 406,053 1,173,672 19,486 1,193,158 1,474,909 29,544 1,504,453 earnings per share for profit attributable to the equity holders of the company (expressed in rmb per share) - basic and diluted0.390.461.361.71 *: unaudited financial indexes 7 - - - - - - jiangling motors corporation, ltd. consolidated cash flow statement (prepared under international financial reporting standards) (all amounts in rmb thousands) cash flows from operating activities 2012.7.1-2012.9.30*2012.1.1-2012.9.30* cash generated from op