Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.
北 京 汽 車 股 份 有 限 公 司
BAIC MOTOR CORPORATION LIMITED*
(A joint stock company incorporated in the People's Republic of China with limited liability)
(Stock Code: 1958)
ANNOUNCEMENT
THE OPERATING RESULTS OF THE COMPANY
FOR THE FIRST QUARTER ENDED MARCH 31, 2021
This announcement is made pursuant to Rules 13.09(2) and 13.10B of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the "Listing Rules") and Inside Information Provisions (as defined under the Listing Rules) under Part XIVA of the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong).
Pursuant to the relevant laws and regulations of the People's Republic of China (the "PRC"), the operating results attached hereto are the unaudited operating results ("the Operating Results for the first quarter") of BAIC Motor Corporation Limited (the "Company", and its subsidiaries, collectively the "Group") for the three months ended March 31, 2021 prepared in accordance with the Accounting Standards for Business Enterprises of the PRC, which have been publicly disclosed on the designated media and/or stock exchanges or otherwise in the PRC.
In April 2020, the Company purchased 100% equity interest in BAIC International Development Co., Ltd. ("BAIC International") and 24.78% equity interest in BAIC Yunnan Ruili Motor Co., Ltd. ("BAIC Ruili") from Beijing Automotive Group Co., Ltd. ("BAIC Group", the controlling shareholder of the Company) respectively. Given the Company, BAIC International and BAIC Ruili are under common control of BAIC Group before the business combination, the acquisitions are business combinations under common control, thus the Company applies the merger accounting principle in preparing the the Operating Results for the first quarter, and BAIC International and BAIC Ruili are deemed to have been included in the consolidated scope of the Company since they were under common control of BAIC Group together with the Company. The consolidated scope of the Operating Results for the first quarter of 2021 includes the balance sheets, income statement and cash flow statements of BAIC International and BAIC Ruili. Comparative figures of the income statement and cash flow statements as of March 31, 2020 have also been restated following this principle.
1
CONSOLIDATED BALANCE SHEET | ||
Unit: RMB Yuan | ||
March 31, 2021 | December 31, 2020 | |
Assets | (Unaudited) | (Audited) |
Current assets: | ||
Monetary assets | 52,326,474,262.77 | 49,351,828,556.49 |
Notes receivables | 57,140,000.00 | 65,140,000.00 |
Trade receivables | 18,466,719,565.99 | 17,383,901,483.52 |
Receivables financing | 800,973,875.57 | 3,104,008,874.42 |
Prepayments | 323,956,762.90 | 340,313,470.64 |
Other receivables | 1,065,960,302.81 | 1,353,178,574.90 |
Inventories | 18,084,282,223.94 | 20,341,990,064.92 |
Other current assets | 3,082,513,374.72 | 3,058,871,030.73 |
Total current assets | 94,208,020,368.70 | 94,999,232,055.62 |
Non-current assets: | ||
Long-term equity investments | 14,149,128,558.96 | 14,296,378,860.55 |
Investment in other equity instruments | 1,850,945,443.06 | 1,896,816,429.23 |
Fixed assets | 38,234,625,668.77 | 38,267,351,040.24 |
Construction in progress | 11,896,088,051.83 | 11,932,204,978.70 |
Right-of-use assets | 177,165,580.55 | 194,602,210.31 |
Intangible assets | 15,027,969,292.76 | 14,941,175,687.61 |
Development expenditures | 3,418,456,557.51 | 3,774,502,749.71 |
Goodwill | 901,945,451.41 | 901,945,451.41 |
Long-term deferred expenses | 82,216,706.06 | 92,027,339.02 |
Deferred income tax assets | 9,581,084,020.98 | 9,763,971,030.38 |
Other non-current assets | 2,528,742,956.36 | 2,642,873,188.48 |
Total non-current assets | 97,848,368,288.25 | 98,703,848,965.64 |
Total assets | 192,056,388,656.95 | 193,703,081,021.26 |
2
CONSOLIDATED BALANCE SHEET (Continued) | ||
Unit: RMB Yuan | ||
March 31, 2021 | December 31, 2020 | |
Liabilities | (Unaudited) | (Audited) |
Current liabilities: | ||
Short-term borrowings | 8,928,213,217.00 | 8,985,831,260.95 |
Notes payables | 2,450,379,452.93 | 2,920,292,913.75 |
Trade payables | 39,239,650,869.95 | 45,096,831,797.35 |
Contract liabilities | 1,368,229,760.17 | 1,291,796,552.29 |
Payroll payables | 823,623,123.66 | 1,548,073,711.21 |
Tax payables | 3,582,311,636.29 | 4,667,156,139.87 |
Other payables | 35,662,013,214.41 | 35,406,408,885.72 |
Non-current liabilities due within one year | 6,134,144,799.61 | 5,292,480,056.36 |
Other current liabilities | 2,447,938,932.20 | 64,096,956.28 |
Total current liabilities | 100,636,505,006.22 | 105,272,968,273.78 |
Non-current liabilities: | ||
Long-term borrowings | 2,709,015,188.30 | 2,523,923,204.49 |
Bonds payables | 5,986,285,218.64 | 6,197,226,474.70 |
Lease liabilities | 49,187,454.87 | 59,220,020.79 |
Accrued liabilities | 2,543,151,412.55 | 2,352,623,600.63 |
Deferred income | 2,814,413,028.61 | 2,802,841,822.64 |
Deferred income tax liabilities | 26,422,696.27 | 26,422,696.27 |
Other non-current liabilities | 768,042,631.04 | 873,913,794.28 |
Total non-current liabilities | 14,896,517,630.28 | 14,836,171,613.80 |
Total liabilities | 115,533,022,636.50 | 120,109,139,887.58 |
Shareholders' equity: | ||
Share capital | 8,015,338,182.00 | 8,015,338,182.00 |
Other equity instruments | - | 1,998,160,377.36 |
Capital reserves | 18,452,791,829.43 | 18,454,631,452.07 |
Other comprehensive income | 67,535,914.31 | 200,465,424.92 |
Surplus reserves | 4,376,970,816.43 | 4,376,970,816.43 |
Unallocated profits | 19,802,400,228.78 | 18,041,933,785.17 |
Total equity attributable to shareholders of | ||
the parent | 50,715,036,970.95 | 51,087,500,037.95 |
Minority interests | 25,808,329,049.50 | 22,506,441,095.73 |
Total shareholders' equity | 76,523,366,020.45 | 73,593,941,133.68 |
Total liabilities and shareholders' equity | 192,056,388,656.95 | 193,703,081,021.26 |
3
CONSOLIDATED INCOME STATEMENT | |||
Unit: RMB Yuan | |||
January to | |||
March in 2020 | |||
(Unaudited) | |||
(Extracted from | |||
January to | January to | the announcement | |
March in 2021 | March in 2020 | on the operating | |
(Unaudited) | (Unaudited, | results for the first | |
Items | restated) | quarter of 2020) | |
I. Total operating income | 49,810,571,821.92 | 33,109,142,345.78 | 32,983,418,864.49 |
II. Total operating costs | 42,862,780,779.92 | 29,575,974,834.96 | 29,422,275,062.09 |
Including: Operating costs | 35,571,822,351.50 | 24,768,309,349.78 | 24,665,714,770.12 |
Business tax and surcharges | 2,548,634,038.50 | 1,693,813,746.92 | 1,693,812,447.47 |
Selling expense | 3,734,313,770.86 | 2,394,294,698.63 | 2,367,756,817.89 |
Administrative expense | 988,536,616.67 | 763,671,580.81 | 737,125,865.95 |
Research and development costs | 217,212,761.67 | 123,871,991.32 | 123,871,991.32 |
Financial expenses | (197,738,759.28) | (167,986,532.50) | (166,066,830.66) |
Add: Other gains | 1,092,387,292.23 | 83,828,897.91 | 83,828,897.91 |
Investment gain/(loss) | (227,237,293.58) | (331,102,476.99) | (329,008,616.51) |
Including: loss from investment in associated companies | |||
and joint ventures | (227,237,293.58) | (330,393,911.50) | (329,008,616.51) |
Loss from changes in fair value | (44,469,899.43) | (243,489,240.12) | (243,489,240.12) |
Credit impairment losses | - | (90,651,740.87) | (90,651,740.87) |
Impairment losses of assets | (318,309,370.96) | - | - |
Loss on disposal of assets | (3,946,070.29) | 1,789,530.17 | 1,789,530.17 |
III. Operating profit | 7,446,215,699.97 | 2,953,542,480.92 | 2,983,612,632.98 |
Add: Non-operating income | 1,128,727.17 | 6,404,259.19 | 5,225,422.54 |
Less: Non-operating expenses | 82,540.90 | 8,377,750.79 | 8,334,183.79 |
IV. Total profit | 7,447,261,886.24 | 2,951,568,989.32 | 2,980,503,871.73 |
Less: Income tax expenses | 2,312,549,695.88 | 1,185,889,787.43 | 1,185,889,787.43 |
V. Net profit | 5,134,712,190.36 | 1,765,679,201.89 | 1,794,614,084.30 |
Net profit attributable to owners of the parent | 1,760,466,443.61 | 33,669,935.78 | 60,849,766.74 |
*Minority interests | 3,374,245,746.75 | 1,732,009,266.11 | 1,733,764,317.56 |
4
CONSOLIDATED INCOME STATEMENT (Continued)
Unit: RMB Yuan | |||
January to | |||
March in 2020 | |||
(Unaudited) | |||
(Extracted from | |||
January to | January to | the announcement | |
March in 2021 | March in 2020 | on the operating | |
(Unaudited) | (Unaudited, | results for the first | |
Items | restated) | quarter of 2020) | |
VI. Net amount of other comprehensive income after tax | (205,287,303.59) | (226,182,925.63) | (54,789,666.51) |
Net amount of other comprehensive income after tax | |||
attributable to shareholders of the parent | (132,929,510.61) | (136,442,045.79) | (61,467,640.81) |
(I) Other comprehensive income/(loss) not to be reclassified | |||
into profit or loss | (45,870,986.17) | 33,920,377.37 | 32,764,990.12 |
Changes in fair value of investment in other equity | |||
instruments | (45,870,986.17) | 33,920,377.37 | 32,764,990.12 |
(II) Other comprehensive income/(loss) to be reclassified | |||
into profit or loss | (87,058,524.44) | (170,362,423.16) | (94,232,630.93) |
Other comprehensive income/(loss) that can be transferred | |||
to profit or loss under equity method | - | - | - |
Effective part of profits or losses on cash flows hedges | (65,245,318.94) | (66,690,268.41) | 8,305,459.60 |
Foreign currency financial statement translation differences | (21,813,205.50) | (103,672,154.75) | (102,538,090.53) |
Net amount of other comprehensive income/(loss) after tax | |||
attributable to minority shareholders | (72,357,792.98) | (89,740,879.84) | 6,677,974.30 |
VII.Total comprehensive income | 4,929,424,886.77 | 1,539,496,276.26 | 1,739,824,417.79 |
Total comprehensive income attributable to shareholders | |||
of the parent | 1,627,536,933.00 | (102,772,110.01) | (617,874.07) |
Total comprehensive income attributable to minority shareholders | 3,301,887,953.77 | 1,642,268,386.27 | 1,740,442,291.86 |
5
CONSOLIDATED CASH FLOWS STATEMENT | |||
Unit: RMB Yuan | |||
January to | |||
March in 2020 | |||
(Unaudited) | |||
(Extracted from | |||
January to | January to | the announcement | |
March in 2021 | March in 2020 | on the operating | |
(Unaudited) | (Unaudited, | results for the first | |
Items | restated) | quarter of 2020) | |
I. Cash flows from operating activities: | |||
Cash received from sales of goods and provision of labor services | 56,048,201,026.70 | 35,405,341,076.99 | 35,293,433,792.64 |
Tax refunds received | 12,456,038.37 | 36,168,667.11 | 237,905.14 |
Cash received relating to other operating activities | 2,514,813,907.54 | 1,375,486,512.69 | 1,331,623,681.44 |
Sub-total of cash inflows from operating activities | 58,575,470,972.61 | 36,816,996,256.79 | 36,625,295,379.22 |
Cash paid for purchase of goods and engagement of labor services | 37,367,477,639.80 | 28,905,121,808.59 | 28,670,505,445.98 |
Cash paid to and on behalf of employees | 1,288,525,419.29 | 1,147,920,421.50 | 1,097,937,682.17 |
Payments of all types of taxes | 10,223,992,083.31 | 10,689,606,576.17 | 10,689,326,941.94 |
Cash paid relating to other operating activities | 5,443,948,621.70 | 3,922,147,815.40 | 3,826,463,402.27 |
Sub-total of cash outflows from operating activities | 54,323,943,764.10 | 44,664,796,621.66 | 44,284,233,472.36 |
Net cash flows from operating activities | 4,251,527,208.51 | (7,847,800,364.87) | (7,658,938,093.14) |
II. Cash flows from investing activities: | |||
Cash receipts from investment income | 12,300,000.00 | - | - |
Net cash received from disposal of fixed assets, | |||
intangible assets and other long-term assets | 540,869.52 | 789,597.05 | 789,597.05 |
Cash received relating to other investing activities | 1,876,500.00 | 423,103.06 | 423,103.06 |
Sub-total of cash inflows from investing activities | 14,717,369.52 | 1,212,700.11 | 1,212,700.11 |
Cash paid for acquisition of fixed assets, | |||
intangible assets and other long-term assets | 2,236,202,071.35 | 2,427,683,991.39 | 2,329,107,624.03 |
Cash paid for investment | - | 500,000,000.00 | 500,000,000.00 |
Cash payments related to other investing activities | 516,712.51 | - | - |
Sub-total of cash outflows from investing activities | 2,236,718,783.86 | 2,927,683,991.39 | 2,829,107,624.03 |
Net cash flows used in investing activities | (2,222,001,414.34) | (2,926,471,291.28) | (2,827,894,923.92) |
6
CONSOLIDATED CASH FLOWS STATEMENT (Continued)
Unit: RMB Yuan | |||
January to | |||
March in 2020 | |||
(Unaudited) | |||
(Extracted from | |||
January to | January to | the announcement | |
March in 2021 | March in 2020 | on the operating | |
(Unaudited) | (Unaudited, | results for the first | |
Items | restated) | quarter of 2020) | |
III. Cash flows from financing activities: | |||
Cash received from borrowings | 9,526,203,934.53 | 7,654,072,018.58 | 7,590,000,000.00 |
Cash receipts related to other financing activities | 483,680.90 | - | - |
Sub-total of cash inflows from financing activities | 9,526,687,615.43 | 7,654,072,018.58 | 7,590,000,000.00 |
Cash paid for repayment of debts | 8,733,280,532.51 | 6,429,644,166.67 | 6,429,000,000.00 |
Cash paid for distribution of dividends, | |||
profits or payment of interests | 183,371,548.98 | 345,244,549.49 | 344,897,470.76 |
Cash paid relating to other financing activities | 1,699,628.78 | 130,000.00 | 130,000.00 |
Sub-total of cash outflows from financing activities | 8,918,351,710.27 | 6,775,018,716.16 | 6,774,027,470.76 |
Net cash flows from/(used in) financing activities | 608,335,905.16 | 879,053,302.42 | 815,972,529.24 |
IV. Effect of changes in exchange rate on cash and cash equivalents | (56,562,952.05) | (33,417,241.33) | 7,181,336.18 |
V. Net increase/(decrease) in cash and cash equivalents | 2,581,298,747.28 | (9,928,635,595.06) | (9,663,679,151.64) |
Add: Balance of cash and cash equivalents | |||
at the beginning of the period | 48,146,250,403.43 | 50,192,354,391.94 | 49,322,498,591.05 |
VI. Balance of cash and cash equivalents at the end of the period | 50,727,549,150.71 | 40,263,718,796.88 | 39,658,819,439.41 |
7
BALANCE SHEET | ||
Unit: RMB Yuan | ||
March 31, 2021 | December 31, 2020 | |
Assets | (Unaudited) | (Audited) |
Current assets: | ||
Monetary assets | 1,659,115,661.78 | 2,694,820,733.70 |
Notes receivables | 822,856.35 | - |
Trade receivables | 17,632,015,343.46 | 18,180,130,355.89 |
Receivables financing | 750,867,419.56 | 744,459,609.81 |
Prepayments | 105,489,658.84 | 75,645,744.75 |
Other receivables | 16,349,570,508.34 | 16,429,303,175.13 |
Inventories | 2,323,355,774.89 | 2,321,209,397.35 |
Other current assets | 984,128,499.05 | 998,888,646.60 |
Total current assets | 39,805,365,722.27 | 41,444,457,663.23 |
Non-current assets: | ||
Long-term equity investments | 30,844,748,830.38 | 30,523,728,657.43 |
Investment in other equity instruments | 3,000,000.00 | 3,000,000.00 |
Fixed assets | 5,006,457,572.69 | 4,863,203,362.50 |
Construction in progress | 29,831,589.67 | 221,096,599.47 |
Right-of-use assets | 66,362,991.38 | 85,255,228.74 |
Intangible assets | 5,859,538,449.64 | 5,986,915,194.91 |
Development expenditures | 2,988,982,228.99 | 3,074,939,852.73 |
Long-term deferred expenses | 37,618,393.00 | 35,117,328.43 |
Other non-current assets | 1,924,597,778.95 | 1,925,978,885.92 |
Total non-current assets | 46,761,137,834.70 | 46,719,235,110.13 |
Total assets | 86,566,503,556.97 | 88,163,692,773.36 |
8
BALANCE SHEET (Continued) | ||
Unit: RMB Yuan | ||
March 31, 2021 | December 31, 2020 | |
Liabilities | (Unaudited) | (Audited) |
Current liabilities: | ||
Short-term borrowings | 8,310,000,000.00 | 5,860,000,000.00 |
Notes payables | 2,125,095,444.90 | 2,307,618,284.61 |
Trade payables | 8,225,142,761.95 | 9,881,393,315.23 |
Contract liabilities | 941,750.22 | - |
Payroll payables | 52,314,158.76 | 79,014,223.02 |
Tax payables | 7,669,954.23 | 46,469,871.80 |
Other payables | 3,814,978,281.99 | 5,128,894,639.49 |
Non-current liabilities due within one year | 3,577,897,972.01 | 1,112,190,217.94 |
Other current liabilities | 1,998,993,424.66 | - |
Total current liabilities | 28,113,033,748.72 | 24,415,580,552.09 |
Non-current liabilities: | ||
Long-term borrowings | 2,374,010,000.00 | 2,376,010,000.00 |
Bonds payables | 2,898,498,446.74 | 5,397,500,620.20 |
Lease liabilities | - | - |
Accrued liabilities | 36,412,364.07 | 30,983,928.10 |
Deferred income | 379,949,820.31 | 381,844,003.78 |
Total non-current liabilities | 5,688,870,631.12 | 8,186,338,552.08 |
Total liabilities | 33,801,904,379.84 | 32,601,919,104.17 |
Shareholders' equity: | ||
Paid-in capital (share capital) | 8,015,338,182.00 | 8,015,338,182.00 |
Other equity instruments | - | 1,998,160,377.36 |
Capital reserves | 21,578,553,963.21 | 21,580,393,585.85 |
Other comprehensive income | 1,012,093.49 | 1,012,093.49 |
Surplus reserves | 3,693,389,846.49 | 3,693,389,846.49 |
Unallocated profits | 19,476,305,091.94 | 20,273,479,584.00 |
Total shareholders' equity | 52,764,599,177.13 | 55,561,773,669.19 |
Total liabilities and shareholders' equity | 86,566,503,556.97 | 88,163,692,773.36 |
9
INCOME STATEMENT | ||
Unit: RMB Yuan | ||
January to | January to | |
March in 2021 | March in 2020 | |
Items | (Unaudited) | (Unaudited) |
I. Total operating income | 450,979,986.33 | 884,822,953.45 |
II. Total operating costs | 1,493,097,074.89 | 2,034,653,797.99 |
Including: Operating costs | 1,132,288,911.42 | 1,557,892,802.40 |
Business tax and surcharges | 16,373,666.85 | 29,134,605.62 |
Selling expense | 70,030,639.24 | 272,380,139.80 |
Administrative expense | 177,635,736.54 | 71,912,099.93 |
Research and development costs | 3,550,998.18 | - |
Financial expenses | 93,217,122.66 | 103,334,150.24 |
Add: Other gains | 4,250,745.94 | 9,523,756.76 |
Investment gain | 240,426,550.13 | 96,909,544.92 |
Including: gain from investment in associated companies | ||
and joint ventures | 240,426,550.13 | 96,909,544.92 |
Gain from changes in fair value | - | - |
Credit impairment losses | - | - |
Impairment losses of assets | - | - |
Gain/(loss) on disposal of assets | (15,895.40) | 1,473,240.16 |
III. Operating profit | (797,455,687.89) | (1,041,924,302.70) |
Add: Non-operating income | 324,308.11 | 3,316,143.75 |
Less: Non-operating expenses | 43,112.28 | 6,869,263.88 |
10
INCOME STATEMENT (Continued)
Unit: RMB Yuan | ||
January to | January to | |
March in 2021 | March in 2020 | |
Items | (Unaudited) | (Unaudited) |
IV. Total profit | (797,174,492.06) | (1,045,477,422.83) |
Less: Income tax expenses | - | - |
V. Net profit | (797,174,492.06) | (1,045,477,422.83) |
Classified by continuity of operations: | ||
Net profit from continuing operations | (797,174,492.06) | (1,045,477,422.83) |
VI. Net amount of other comprehensive income after tax | - | - |
(I) Other comprehensive income not to be reclassified | ||
into profit or loss | - | - |
Changes in fair value of investment in other equity | ||
instruments | - | - |
(II) Other comprehensive income to be reclassified | ||
into profit or loss | - | - |
Other comprehensive income that can be transferred | ||
to profit or loss under equity method | - | - |
Reserves from cash flows hedges | - | |
Foreign currency financial statement translation differences | - | - |
VII.Total comprehensive income | (797,174,492.06) | (1,045,477,422.83) |
11
CASH FLOWS STATEMENT | ||
Unit: RMB Yuan | ||
January to | January to | |
March in 2021 | March in 2020 | |
Items | (Unaudited) | (Unaudited) |
I. Cash flows from operating activities: | ||
Cash received from sales of goods and provision of labor services | 821,276,299.82 | 652,546,373.99 |
Cash received relating to other operating activities | 1,531,000,096.18 | 910,764,978.17 |
Sub-total of cash inflows from operating activities | 2,352,276,396.00 | 1,563,311,352.16 |
Cash paid for purchase of goods and engagement of labor services | 2,696,922,368.98 | 2,730,599,934.18 |
Cash paid to and on behalf of employees | 310,348,547.14 | 223,860,151.13 |
Payments of all types of taxes | 40,457,386.16 | 62,214,671.66 |
Cash paid relating to other operating activities | 2,427,966,968.78 | 386,803,321.53 |
Sub-total of cash outflows from operating activities | 5,475,695,271.06 | 3,403,478,078.50 |
Net cash flows used in operating activities | (3,123,418,875.06) | (1,840,166,726.34) |
II. Cash flows from investing activities: | ||
Net cash received from disposal of fixed assets, | ||
intangible assets and other long-term assets | 540,869.52 | 667,765.05 |
Cash received relating to other investing activities | - | 1,115,863,902.28 |
Sub-total of cash inflows from investing activities | 540,869.52 | 1,116,531,667.33 |
Cash paid for acquisition of fixed assets, intangible assets and | ||
other long-term assets | 167,138,910.67 | 411,843,535.97 |
Sub-total of cash outflows from investing activities | 167,138,910.67 | 411,843,535.97 |
Net cash flows from investing activities | (166,598,041.15) | 704,688,131.36 |
III. Cash flows from financing activities: | ||
Cash received from borrowings | 7,000,000,000.00 | 7,550,000,000.00 |
Sub-total of cash inflows from financing activities | 7,000,000,000.00 | 7,550,000,000.00 |
Cash paid for repayment of debts | 4,662,000,000.00 | 6,429,000,000.00 |
Cash paid for distribution of dividends | ||
or profits or payment of interests | 87,927,396.10 | 256,807,583.67 |
Cash paid relating to other financing activities | 50,000.00 | 81,630,000.00 |
Sub-total of cash outflows from financing activities | 4,749,977,396.10 | 6,767,437,583.67 |
Net cash flows from/(used in) financing activities | 2,250,022,603.90 | 782,562,416.33 |
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CASH FLOWS STATEMENT (Continued) | ||
Unit: RMB Yuan | ||
January to | January to | |
March in 2021 | March in 2020 | |
Items | (Unaudited) | (Unaudited) |
IV. Effect of changes in exchange rate on cash and cash equivalents | 45,270.18 | 8,176.28 |
V. Net increase in cash and cash equivalents | (1,039,949,042.13) | (352,908,002.37) |
Add: Balance of cash and cash equivalents | ||
at the beginning of the period | 2,164,483,331.08 | 3,648,830,915.84 |
VI. Balance of cash and cash equivalents at the end of the period | 1,124,534,288.95 | 3,295,922,913.47 |
Note: The financial information contained in this operating results update is prepared in accordance with the Accounting Standards for Business Enterprises of the PRC and has not been audited.
By order of the Board
BAIC Motor Corporation Limited
Wang Jianhui
Secretary to the Board and Company Secretary
Beijing, the PRC, April 28, 2021
As at the date of this announcement, the Board comprises Mr. Jiang Deyi, as Chairman of the Board and non-executive Director; Mr. Liao Zhenbo, Mr. Chen Hongliang and Mr. Hu Hanjun as non-executive Directors; Mr. Huang Wenbing, as executive Director; Mr. Ye Qian, Mr. Hubertus Troska, Mr. Harald Emil Wilhelm, Mr. Jin Wei and Mr. Sun Li, as non-executive Directors; and Mr. Ge Songlin, Ms. Yin Yuanping, Mr. Xu Xiangyang, Mr. Tang Jun and Mr. Edmund Sit, as independent non-executive Directors.
- For identification purpose only
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BAIC Motor Corporation Ltd. published this content on 28 April 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 28 April 2021 13:43:02 UTC.