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.
GUANGZHOU AUTOMOBILE GROUP CO., LTD.
廣州汽車集團股份有限公司
(a joint stock company incorporated in the People's Republic of China with limited liability)
(Stock Code: 2238)
OVERSEAS REGULATORY ANNOUNCEMENT
2019 THIRD QUARTERLY REPORT
This third quarterly report is published by Guangzhou Automobile Group Co., Ltd. (the "Company") pursuant to Rules 13.09 and 13.10B of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited. The third quarterly result of the Company and its subsidiaries (the "Group") contained in this report was prepared under the China Accounting Standards for Business Enterprises and was unaudited. The original text of this report is in Chinese.
1. IMPORTANT NOTICE
- The board of directors, the supervisory committee and the directors, supervisors and senior management of the Company warrant the truthfulness, accuracy and completeness of the contents contained herein, that there are no false representations or misleading statements contained in or material omissions from this quarterly report, and they jointly and severally accept responsibility.
- All directors of the Company attended the board meeting approving this quarterly report.
- ZENG Qinghong, the person in charge of the Company and FENG Xingya, the general manager of the Company, WANG Dan, the person in charge of accounting function and ZHENG Chao, the manager of the accounting department (Accounting Chief), warrant the truthfulness, accuracy and completeness of the financial statements contained in this quarterly report.
- The third quarterly report of the Company was unaudited.
1
2. BASIC INFORMATION OF THE COMPANY
2.1 Major financial data
Unit: Yuan Currency: RMB | |||
Increase/decrease | |||
as at the end of the | |||
reporting period | |||
As at the end of | as compared with | ||
the reporting | As at the end of | the end of last year | |
period | last year | (%) | |
Total assets | 125,664,669,717 | 132,119,734,666 | -4.89 |
Net assets attributable to | |||
shareholders of the Company | 79,513,247,019 | 76,549,828,708 | 3.87 |
From the | From the | ||
beginning of the | beginning of last | ||
year to the end | year to the end of | ||
of the reporting | the last reporting | Increase/decrease | |
period | period | as compared with | |
(January to | (January to | the same period | |
September) | September) | last year (%) | |
Net cash flow from operating activities | -9,110,650,386 | -5,218,387,988 | -74.59 |
From the | From the | ||
beginning of the | beginning of last | ||
year to the end | year to the end of | ||
of the reporting | the last reporting | Increase/decrease | |
period | period | as compared with | |
(January to | (January to | the same period | |
September) | September) | last year (%) | |
Revenue from operations | 42,683,890,443 | 52,822,420,495 | -19.19 |
Net profit attributable to | |||
shareholders of the Company | 6,335,022,626 | 9,860,334,991 | -35.75 |
Net profit attributable to shareholders | |||
of the Company after deduction of | |||
non-recurring profit or loss | 4,360,834,040 | 9,220,177,234 | -52.70 |
Return on net assets (weighted | Decrease by 5.54 | ||
average) (%) | 7.95 | 13.49 | percentage points |
Basic earnings per share (Yuan/share) | 0.62 | 0.97 | -36.08 |
Diluted earnings per share (Yuan/share) | 0.62 | 0.95 | -34.74 |
2
Non-recurring profit and loss items and amounts | |||||
Unit: Yuan | Currency: RMB | ||||
Amount from | |||||
the beginning | |||||
of the year to | |||||
Amount for | the end of the | ||||
the period | reporting period | ||||
(July to | (January to | ||||
Item | September) | September) | |||
Gains/losses on disposal of non-current assets | 2,142,845 | 33,747,305 | |||
Government grants recognised in profit or loss for the | |||||
current period (except for those closely related to | |||||
the Company's normal business and in compliance | |||||
with national policies and regulations and conferred | |||||
continuously based on standard amounts and | |||||
quantities) | 272,837,940 | 2,033,532,207 | |||
Gain and loss from changes in fair value arising | |||||
from holding of trading financial assets, derivative | |||||
financial assets, trading financial liabilities, | |||||
derivative financial liabilities, as well as investment | |||||
gain realised from disposal of trading financial | |||||
assets, derivative financial assets, trading financial | |||||
liabilities, derivative financial liabilities and other | |||||
debt investments apart from the effective hedging | |||||
business relating to the normal operating business of | |||||
the Company | 12,747,401 | 5,284,901 | |||
Gain or loss from external entrusted loans | 3,520,727 | 8,600,091 | |||
Other non-operating income and expense save as stated | |||||
above | 17,016,108 | 33,570,505 | |||
Impact on minority interests (after tax) | -1,145,712 | -2,356,872 | |||
Impact on income tax | 14,982,189 | -138,189,551 | |||
Total | 322,101,498 | 1,974,188,586 | |||
3
2.2 Table of total number of shareholders and particulars of shareholdings of the top ten shareholders and the top ten circulating shareholders (or holders of tradable shares not subject to trading moratorium) as at the end of the reporting period
Unit: share | |||||||
Total number of shareholders (account) (Note 1) | 33,927 | ||||||
Shareholdings of the top ten shareholders | |||||||
Number of | |||||||
Number of shares | shares subject | Under pledge or lock-up | |||||
held at the end of | Percentage | to trading | Status of | Nature of | |||
Name of shareholder (full name) | the period | (%) | moratorium | shares | Number | shareholder | |
Guangzhou Automobile Industry | 5,499,140,069 | 53.71 | 0 | Nil | State-owned | ||
Group Co., Ltd. (Note 2) | legal person | ||||||
HKSCC NOMINEES LIMITED | 3,095,289,167 | 30.23 | 0 | Unknown | Foreign legal | ||
(Note 3) | person | ||||||
Guangzhou Huiyin Tianyue Equity | 421,898,543 | 4.12 | 421,898,543 | Pledged | 210,949,271 | State-owned | |
Investment Fund Management | legal person | ||||||
Co., Ltd. | |||||||
Guangzhou State-owned Assets | 210,949,272 | 2.06 | 210,949,272 | Nil | State-owned | ||
Development Holdings Co., Ltd. | legal person | ||||||
Guangzhou Finance Holdings Assets | 210,949,271 | 2.06 | 210,949,271 | Nil | Other |
- Management Co., Ltd.-
- GFHAM Wealth Management Select
- No.3 Private Investment Fund
Shanghai Puxing Energy Limited | 105,985,997 | 1.04 | 0 | Nil | Domestic | |
non-state- | ||||||
owned legal | ||||||
person | ||||||
Guangzhou Light Industry & Trade | 105,474,635 | 1.03 | 105,474,635 | Nil | State-owned | |
Group Co., Ltd. | legal person | |||||
Suiyong Holdings Co., Ltd. | 105,474,635 | 1.03 | 105,474,635 | Pledged 105,474,635 | State-owned | |
legal person | ||||||
Huaxin Trust Co., Ltd.- | 102,391,628 | 1.00 | 0 | Nil | Other | |
Huaxin Trust • Yingtai No.66 | ||||||
Assembled Funds Trust Plan | ||||||
Huaxin Trust Co., Ltd.- | 75,791,647 | 0.74 | 0 | Nil | Other | |
Huaxin Trust • Yingtai No.31 | ||||||
Assembled Funds Trust Plan |
4
Particulars of shareholdings of the top ten holders of tradable shares not subject to trading moratorium
Number of tradable | |||
shares not subject to | Class of shares and number | ||
Name of shareholder (full name) | trading moratorium | Class of share | Number |
Guangzhou Automobile Industry Group Co., Ltd. | 5,499,140,069 | A and H shares | 5,499,140,069 |
HKSCC NOMINEES LIMITED | 3,095,289,167 | H shares | 3,095,289,167 |
Shanghai Puxing Energy Limited | 105,985,997 | RMB ordinary shares | 105,985,997 |
Huaxin Trust Co., Ltd.-Huaxin Trust • Yingtai No.66 | |||
Assembled Funds Trust Plan | 102,391,628 | RMB ordinary shares | 102,391,628 |
Huaxin Trust Co., Ltd.-Huaxin Trust • Yingtai No.31 | |||
Assembled Funds Trust Plan | 75,791,647 | RMB ordinary shares | 75,791,647 |
Ningbo Mei Shan Baoshuigang Area Jincheng Shazhou | |||
Equity Investment Co., Ltd. | 41,852,306 | RMB ordinary shares | 41,852,306 |
China National Machinery Industry Corporation | 35,230,166 | RMB ordinary shares | 35,230,166 |
Hong Kong Securities Clearing Company Limited (Note 4) | 29,431,076 | RMB ordinary shares | 29,431,076 |
Industrial and Commercial Bank of China Limited - E Fund | |||
Management Value Growing Combined Securities | |||
Investment Fund | 14,315,887 | RMB ordinary shares | 14,315,887 |
National Social Security Fund 107 Combination | 12,214,251 | RMB ordinary shares | 12,214,251 |
Related-party relationship or concerted party | Guangzhou Automobile Industry Group Co., Ltd, the largest shareholder of the | ||
relationship among the above shareholders | Company, is not related to any of the above shareholders, nor it is a party acting | ||
in concert with any of them, and it is not known to the Company whether other | |||
shareholders are related to each other or whether they are parties acting in concert. |
Note 1: Total number of shareholders as at the end of the reporting period was 33,927, among which there are 33,668 holders of A shares and 259 holders of H shares.
Note 2: Guangzhou Automobile Industry Group Co., Ltd. held 5,206,932,069 A shares of the Company, representing approximately 72.94% of the A share capital of the Company. At the same time, it held 292,208,000 H shares of the Company through Southbound Transaction and its wholly-owned subsidiary in Hong Kong, Guangzhou Auto Group (Hong Kong) Limited, representing approximately 9.43% of the H share capital of the Company. The total number of A and H shares of the Company held by it was therefore 5,499,140,069 shares, representing approximately 53.71% of the total share capital of the Company.
Note 3: H shares held by HKSCC NOMINEES LIMITED were held on behalf of a number of clients. H shares of the Company held by Guangzhou Auto Group (Hong Kong) Limited are also registered in trust with
HKSCC NOMINEES LIMITED.
Note 4: Shares held by Hong Kong Securities Clearing Company Limited were A shares held on behalf of a number of Hong Kong investors through Shanghai - Hong Kong Stock Connect.
5
-
Table of total number of preferred shareholders and particulars of shareholdings of the top ten preferred shareholders and the top ten preferred shareholders not subject to trading moratorium as at the end of the reporting period
Applicable √ Not applicable
3. SIGNIFICANT EVENTS
- Material changes in items of major accounting statements and financial indicators of the Company and the reasons thereof
Unit: RMB0'000 Currency: RMB | |||
Balance as | |||
at the end of | |||
the period or | |||
during the | |||
reporting | Percentage | ||
Item | period | change | Reasons for change |
Other receivables | 211,021.83 | -52.69% | Mainly due to the dividend from |
investment in enterprises during | |||
the reporting period | |||
Other non-current | 336,181.99 | 111.60% | Mainly due to the increase in |
financial assets | investment in financial assets | ||
during the reporting period | |||
Other non-current | 87,395.14 | -44.26% | Mainly due to the decrease in |
assets | prepayments for equipment, | ||
prepayments for lands and | |||
financial lease assets as compared | |||
to the beginning of the year during | |||
the reporting period | |||
Deposit taking and | 256,788.92 | -73.65% | Mainly due to deposit expenses at |
deposit in inter- | GAC Finance for non-consolidated | ||
bank market | enterprises during the reporting | ||
period | |||
Trade payables | 886,824.86 | -22.47% | Mainly due to the payments to |
suppliers during the reporting | |||
period | |||
Other current | 148,876.19 | 33.10% | Mainly due to increase in the short- |
liabilities | term financing bonds payable | ||
during the reporting period |
6
Balance as | ||
at the end of | ||
the period or | ||
during the | ||
reporting | Percentage | |
Item | period | change Reasons for change |
Selling expenses | 270,274.91 | -39.31% Mainly due to the decrease in |
production and sales volumes | ||
leading to a corresponding | ||
reduction in advertising | ||
expenditures and after-sale | ||
services expenses during the | ||
reporting period | ||
Research and | 112,466.78 | 81.47% Mainly due to the increase in |
development | amortisation of intangible assets | |
expenses | during the reporting period | |
Other income | 156,087.85 | 231.93% Mainly due to the increase on a year- |
to-year basis in government grants | ||
received during the reporting | ||
period | ||
Net increase in | -717,429.60 | -91.30% Mainly due to the combined effect |
deposits from | of the outflow of deposits at GAC | |
customers and | Finance for non-consolidated | |
deposits from | enterprises, etc. during the | |
other banks | reporting period | |
Tax payments | 241,090.83 | -54.05% The decrease as the decrease in |
production and sales volumes | ||
during the reporting period | ||
Cash paid for | 602,278.46 | 50.12% Mainly due to the increase in |
investment | investment in financial products | |
etc. during the reporting period |
7
-
Analysis and explanation of progress and impact of significant events and their solutions
Applicable √ Not applicable - Undertakings which have not yet been performed during the reporting period Applicable √ Not applicable
-
Warning and explanation on the forecast of any possible loss in accumulated net profit from the beginning of the year to the end of the next reporting period or any material changes compared to the corresponding period of last year
Applicable √ Not applicable
Guangzhou Automobile Group Co., Ltd.
Legal representative: ZENG Qinghong
29 October 2019
Guangzhou, the PRC, 29 October 2019
As at the date of this announcement, the executive directors of the Company are ZENG Qinghong and FENG Xingya, the non-executive directors of the Company are YAN Zhuangli, CHEN Maoshan, CHEN Jun, DING Hongxiang and HAN Ying, and the independent non-executive directors of the Company are FU Yuwu, LAN Hailin, LEUNG Lincheong and WANG Susheng.
8
4. APPENDICES
4.1 Financial Statements
Consolidated Balance Sheet
30 September 2019
Prepared by: Guangzhou Automobile Group Co., Ltd.
Unit: Yuan | Currency: RMB Type of audit: unaudited | ||||
30 September | 31 December | ||||
Item | 2019 | 2018 | |||
Current assets: | |||||
Monetary fund | 26,203,722,544 | 41,908,206,320 | |||
Trading financial assets | 729,660,274 | 967,734,031 | |||
Financial assets measured at fair value and changes | |||||
of which are recorded in profit or loss | |||||
for the period | 0 | 0 | |||
Bills receivables | 1,525,885,192 | 4,756,831,774 | |||
Trade receivables | 4,066,915,195 | 2,158,534,878 | |||
Prepayments | 1,915,267,258 | 1,425,551,606 | |||
Other receivables | 2,110,218,252 | 4,460,768,706 | |||
Including: Interests receivable | 182,849,923 | 261,675,373 | |||
Dividends receivable | 232,291,237 | 3,202,843,757 | |||
Inventories | 5,816,286,092 | 6,729,797,363 | |||
Contractual assets | 5,364,866 | 0 | |||
Held-for-sale assets | 0 | 0 | |||
Non-current assets due within one year | 1,375,951,679 | 1,139,427,756 | |||
Other current assets | 3,551,175,629 | 2,664,125,123 | |||
Total current assets | 47,300,446,981 | 66,210,977,557 | |||
9
30 September | 31 December | ||
Item | 2019 | 2018 | |
Non-current assets: | |||
Loans and advances granted | 0 | 0 | |
Debt investments | 454,993,939 | 230,000,000 | |
Available-for-sale financial assets | 0 | 0 | |
Other debt investments | 0 | 0 | |
Held-to-maturity investments | 0 | 0 | |
Long-term receivables | 793,008,721 | 859,678,951 | |
Long-term equity investments | 32,952,294,393 | 28,972,887,407 | |
Other investments in equity instruments | 1,189,671,009 | 1,215,243,831 | |
Other non-current financial assets | 3,361,819,879 | 1,588,786,067 | |
Investment properties | 1,344,458,517 | 1,485,993,965 | |
Fixed assets | 17,053,163,341 | 13,887,461,905 | |
Construction in progress | 2,764,878,680 | 2,222,861,910 | |
Right-of-use assets | 825,579,985 | 0 | |
Intangible assets | 10,769,429,308 | 8,555,985,063 | |
Development expenses | 3,954,263,146 | 3,780,217,706 | |
Goodwill | 104,504,775 | 104,504,775 | |
Long-term deferred expenditures | 465,523,020 | 375,060,400 | |
Deferred income tax assets | 1,456,682,655 | 1,062,074,708 | |
Other non-current assets | 873,951,368 | 1,568,000,421 | |
Total non-current assets | 78,364,222,736 | 65,908,757,109 | ||
Total assets | 125,664,669,717 | 132,119,734,666 | ||
Current liabilities: | ||||
Short-term borrowings | 1,907,895,490 | 1,943,648,418 | ||
Trading financial liabilities | 0 | 0 | ||
Financial liabilities measured at fair value and | ||||
changes of which are recorded in profit or | ||||
loss for the period | 0 | 0 | ||
Bills payables | 803,470,819 | 834,771,866 | ||
Trade payables | 8,868,248,643 | 11,438,369,559 |
10
30 September | 31 December | ||
Item | 2019 | 2018 | |
Receipts in advance | 0 | 0 | |
Contractual liabilities | 1,422,101,881 | 1,335,696,416 | |
Deposit taking and deposit in inter-bank market | 2,567,889,222 | 9,746,028,302 | |
Staff remuneration payable | 1,593,204,221 | 2,190,000,649 | |
Taxes payable | 981,768,051 | 1,104,592,424 | |
Other payables | 7,749,936,722 | 9,534,696,475 | |
Including: Interests payable | 217,710,296 | 293,324,139 | |
Dividends payable | 1,232,378 | 0 | |
Handling charges and commissions payable | 0 | 0 | |
Reinsurance accounts payable | 0 | 0 | |
Held-for-sale liabilities | 0 | 0 | |
Non-current liabilities due within one year | 3,369,367,701 | 1,253,047,069 | |
Other current liabilities | 1,488,761,902 | 1,118,516,798 | |
Total current liabilities | 30,752,644,652 | 40,499,367,976 | |||
Non-current liabilities: | |||||
Long-term borrowings | 1,745,401,991 | 1,536,465,261 | |||
Debentures payable | 6,125,427,893 | 8,074,995,939 | |||
Including: preference shares | 0 | 0 | |||
perpetual bonds | 0 | 0 | |||
Lease liabilities | 703,953,191 | 0 | |||
Long-term payables | 91,016,529 | 77,207,802 | |||
Long-term staff remuneration payable | 0 | 0 | |||
Estimated liabilities | 491,393,026 | 674,555,515 | |||
Deferred income | 3,420,764,915 | 3,054,205,686 | |||
Deferred income tax liabilities | 198,380,781 | 160,977,489 | |||
Other non-current liabilities | 135,283,092 | 121,277,151 | |||
Total non-current liabilities | 12,911,621,418 | 13,699,684,843 | |||
Total liabilities | 43,664,266,070 | 54,199,052,819 | |||
11
30 September | 31 December | |||||
Item | 2019 | 2018 | ||||
Owners' equity (or shareholders' equity) | ||||||
Paid-in capital (or share capital) | 10,237,707,541 | 10,232,497,472 | ||||
Other equity instrument | 240,942,110 | 240,942,393 | ||||
Including: preference shares | 0 | 0 | ||||
perpetual bonds | 0 | 0 | ||||
Capital reserve | 22,400,369,656 | 22,382,799,762 | ||||
Less: treasury stock | 0 | 0 | ||||
Other comprehensive income | 244,726,427 | 268,155,437 | ||||
Special reserve | 29,919,244 | 22,713,034 | ||||
Surplus reserve | 3,817,299,366 | 3,817,299,366 | ||||
General risk provision | 341,631,173 | 341,631,173 | ||||
Undistributed profit | 42,200,651,502 | 39,243,790,071 | ||||
Total owners' equity (or shareholders' equity) | ||||||
attributable to owners of the parent company | 79,513,247,019 | 76,549,828,708 | ||||
Minority interests | 2,487,156,628 | 1,370,853,139 | ||||
Total owners' equity (or shareholders' equity) | 82,000,403,647 | 77,920,681,847 | ||||
Total liabilities and owners' equity | ||||||
(or shareholders' equity) | 125,664,669,717 | 132,119,734,666 | ||||
Principal accounting | Manager of the accounting | |||||
Legal representative: | responsible person: | department: | ||||
ZENG Qinghong | WANG Dan | ZHENG Chao |
12
Balance Sheet of the Parent Company
30 September 2019
Prepared by: Guangzhou Automobile Group Co., Ltd.
Unit: Yuan | Currency: RMB Type of audit: unaudited | ||||
30 September | 31 December | ||||
Item | 2019 | 2018 | |||
Current assets: | |||||
Monetary fund | 11,142,453,973 | 12,699,469,013 | |||
Bills receivables | 0 | 0 | |||
Trade receivables | 20,066,143 | 1,619,011,882 | |||
Prepayments | 99,096,927 | 62,832,235 | |||
Other receivables | 174,928,510 | 3,537,675,053 | |||
Including: Interests receivable | 12,332,246 | 41,326,896 | |||
Dividends receivable | 0 | 3,311,765,599 | |||
Inventories | 63,421,610 | 82,094,237 | |||
Contractual assets | 0 | 0 | |||
Held-for-sale assets | 0 | 0 | |||
Non-current assets due within one year | 0 | 0 | |||
Other current assets | 690,259,945 | 606,279,152 | |||
Total current assets | 12,190,227,108 | 18,607,361,572 | |||
Non-current assets: | |||||
Debt investments | 0 | 0 | |||
Available-for-sale financial assets | 0 | 0 | |||
Other debt investments | 0 | 0 | |||
Held-to-maturity investments | 0 | 0 | |||
Long-term receivables | 0 | 0 | |||
Long-term equity investments | 59,180,927,839 | 52,557,376,628 | |||
Other investments in equity instruments | 0 | 0 | |||
Other non-current financial assets | 962,343,500 | 662,343,500 | |||
Investment properties | 485,377,415 | 522,518,480 | |||
Fixed assets | 2,240,828,911 | 2,243,250,075 | |||
Construction in progress | 315,172,446 | 179,797,747 |
13
30 September | 31 December | |||||
Item | 2019 | 2018 | ||||
Right-of-use assets | 0 | 0 | ||||
Intangible assets | 3,928,959,096 | 2,288,762,649 | ||||
Development expenses | 2,107,673,297 | 1,708,763,562 | ||||
Goodwill | 0 | 0 | ||||
Long-term deferred expenditures | 270,851 | 433,362 | ||||
Deferred income tax assets | 0 | 0 | ||||
Other non-current assets | 57,297,617 | 56,690,978 | ||||
Total non-current assets | 69,278,850,972 | 60,219,936,981 | ||||
Total assets | 81,469,078,080 | 78,827,298,553 | ||||
Current liabilities: | ||||||
Short-term borrowings | 0 | 0 | ||||
Trading financial liabilities | 0 | 0 | ||||
Bills payables | 0 | 0 | ||||
Trade payables | 275,808,944 | 272,458,441 | ||||
Receipts in advance | 0 | 0 | ||||
Contractual liabilities | 37,667,400 | 5,000,000 | ||||
Staff remuneration payable | 638,389,889 | 776,568,195 | ||||
Taxes payable | 76,057,041 | 62,003,112 | ||||
Other payables | 4,463,909,970 | 4,602,162,698 | ||||
Including: Interests payable | 176,279,021 | 233,486,958 | ||||
Dividends payable | 0 | 0 | ||||
Held-for-sale liabilities | 0 | 0 | ||||
Non-current liabilities due within one year | 1,996,827,455 | 119,633,373 | ||||
Other current liabilities | 0 | 0 | ||||
Total current liabilities | 7,488,660,699 | 5,837,825,819 | ||||
14
30 September | 31 December | ||
Item | 2019 | 2018 | |
Non-current liabilities: | |||
Long-term borrowings | 0 | 0 | |
Debentures payable | 5,525,935,956 | 7,475,746,928 | |
Including: preference shares | 0 | 0 | |
perpetual bonds | 0 | 0 | |
Lease liabilities | 0 | 0 | |
Long-term payables | 0 | 0 | |
Long-term staff remuneration payables | 0 | 0 | |
Estimated liabilities | 0 | 0 | |
Deferred income | 629,540,285 | 494,664,290 | |
Deferred income tax liabilities | 0 | 0 | |
Other non-current liabilities | 0 | 0 | |
Total non-current liabilities | 6,155,476,241 | 7,970,411,218 | ||||
Total liabilities | 13,644,136,940 | 13,808,237,037 | ||||
Owners' equity (or shareholders' equity) | ||||||
Paid-in capital (or share capital) | 10,237,707,541 | 10,232,497,472 | ||||
Other equity instrument | 240,942,110 | 240,942,393 | ||||
Including: preference shares | 0 | 0 | ||||
perpetual bonds | 0 | 0 | ||||
Capital reserve | 31,251,828,379 | 31,234,258,485 | ||||
Less: treasury stock | 0 | 0 | ||||
Other comprehensive income | 0 | 0 | ||||
Special reserve | 0 | 0 | ||||
Surplus reserve | 3,817,299,366 | 3,817,299,366 | ||||
Undistributed profit | 22,277,163,744 | 19,494,063,800 | ||||
Total owners' equity (or shareholders' equity) | 67,824,941,140 | 65,019,061,516 | ||||
Total liabilities and owners' equity | ||||||
(or shareholders' equity) | 81,469,078,080 | 78,827,298,553 | ||||
Principal accounting | Manager of the accounting | |
Legal representative: | responsible person: | department: |
ZENG Qinghong | WANG Dan | ZHENG Chao |
15
Consolidated Income Statement
From January to September 2019
Prepared by: Guangzhou Automobile Group Co., Ltd.
Unit: Yuan Currency: RMB | Type of audit: unaudited | |||||||||||||
The third | The third | The first three | The first three | |||||||||||
quarter of 2019 | quarter of 2018 | quarters of 2019 | quarters of 2018 | |||||||||||
(July to | (July to | (January to | (January to | |||||||||||
Item | September) | September) | September) | September) | ||||||||||
I. | Total revenue from operations | 14,679,674,415 | 16,308,101,046 | 43,031,133,430 | 53,508,407,518 | |||||||||
Including: Revenue from operations | 14,560,969,157 | 16,116,488,774 | 42,683,890,443 | 52,822,420,495 | ||||||||||
Interest income | 118,705,258 | 191,612,272 | 347,242,987 | 685,987,023 | ||||||||||
II. | Total cost of operations | 16,153,300,547 | 16,164,846,685 | 46,312,340,004 | 50,955,743,439 | |||||||||
Including: Cost of operations | 13,779,935,588 | 13,219,128,066 | 39,344,379,312 | 41,742,643,255 | ||||||||||
Interest expenses | 25,814,453 | 19,659,163 | 105,771,517 | 69,392,372 | ||||||||||
Taxes and surcharges | 287,532,570 | 498,955,318 | 967,904,619 | 1,768,407,660 | ||||||||||
Selling expenses | 968,159,627 | 1,550,808,833 | 2,702,749,077 | 4,453,300,565 | ||||||||||
Management expenses | 658,015,961 | 763,869,505 | 1,955,549,092 | 2,402,840,023 | ||||||||||
Research and development expenses | 381,986,366 | 190,492,134 | 1,124,667,839 | 619,749,060 | ||||||||||
Financial expenses | 51,855,982 | -78,066,334 | 111,318,548 | -100,589,496 | ||||||||||
Including: Interests expenses | 96,277,216 | 91,086,329 | 308,968,401 | 275,754,508 | ||||||||||
Interest income | 42,309,634 | 108,580,870 | 256,530,170 | 357,693,243 | ||||||||||
Add: Other income | 272,666,285 | 309,235,034 | 1,560,878,533 | 470,243,027 | ||||||||||
Gains on investment (loss is represented by "-") | 2,548,864,244 | 2,559,504,412 | 7,508,538,990 | 7,674,565,262 | ||||||||||
Including: Gains from investment in associated | ||||||||||||||
companies and joint ventures | 2,530,369,597 | 2,550,188,649 | 7,396,594,995 | 7,493,135,169 | ||||||||||
Derecognition gains on financial assets | ||||||||||||||
measured at amortised cost | 0 | 0 | 0 | 0 |
16
The third | The third | The first three | The first three | ||||||
quarter of 2019 | quarter of 2018 | quarters of 2019 | quarters of 2018 | ||||||
(July to | (July to | (January to | (January to | ||||||
Item | September) | September) | September) | September) | |||||
Foreign exchange gains | |||||||||
(loss is represented by "-") | 0 | 0 | 0 | 0 | |||||
Net gains from hedging exposure | |||||||||
(loss is represented by "-") | 0 | 0 | 0 | 0 | |||||
Gains on change in fair value | |||||||||
(loss is represented by "-") | 21,127,142 | 81,754,860 | 62,367,958 | -44,854,456 | |||||
Impairment loss of credits | |||||||||
(loss is represented by "-") | 14,837,252 | 5,573,540 | 4,749,996 | 3,386,922 | |||||
Impairment loss of assets | |||||||||
(loss is represented by "-") | 10,545,125 | 4,267,721 | 25,219,246 | -64,183,712 | |||||
Gains on disposal of assets | |||||||||
(loss is represented by "-") | 2,186,275 | -10,373,473 | 3,641,666 | -7,634,165 | |||||
III. | Operating profit (loss is represented by "-") | 1,396,600,191 | 3,093,216,455 | 5,884,189,815 | 10,584,186,957 | ||||
Add: Non-operating income | 21,147,311 | 20,369,458 | 524,084,295 | 163,628,022 | |||||
Less: Non-operating expenses | 4,109,021 | 10,634,283 | 18,186,950 | 31,389,021 | |||||
IV. | Total profit (total loss is represented by "-") | 1,413,638,481 | 3,102,951,630 | 6,390,087,160 | 10,716,425,958 | ||||
Less: Income tax expenses | -32,568,394 | 153,798,949 | -30,450,169 | 822,405,234 | |||||
V. | Net profit (net loss is represented by "-") | 1,446,206,875 | 2,949,152,681 | 6,420,537,329 | 9,894,020,724 |
- Classified by continuity of operations
1. Net profit from continuing operations
(net loss is represented by "-") | 1,446,206,875 | 2,949,152,681 | 6,420,537,329 | 9,894,020,724 | ||
2. Net profit from discontinued operations | ||||||
(net loss is represented by "-") | 0 | 0 | 0 | 0 |
- Classified by ownership of the equity
1. Net profit attributable to owners of the parent | ||||||
company (net loss is represented by "-") | 1,416,183,527 | 2,947,232,311 | 6,335,022,626 | 9,860,334,991 | ||
2. Minority interests (net loss is represented by "-") | 30,023,348 | 1,920,370 | 85,514,703 | 33,685,733 | ||
VI. | Other comprehensive income (net of tax) | -17,529,934 | -51,328,012 | -23,429,010 | -50,828,135 | |
Other comprehensive income (net of tax) attributable to | ||||||
owners of the parent company | -17,529,934 | -51,328,012 | -23,429,010 | -50,828,135 | ||
(1) Other comprehensive income not to be reclassified | ||||||
into profit or loss | -19,292,454 | -52,828,780 | -25,572,822 | -52,828,780 | ||
1. Changes arising from the re-measurement of | ||||||
defined benefit plans | 0 | 0 | 0 | 0 |
17
The third | The third | The first three | The first three | |||||||
quarter of 2019 | quarter of 2018 | quarters of 2019 | quarters of 2018 | |||||||
(July to | (July to | (January to | (January to | |||||||
Item | September) | September) | September) | September) | ||||||
2. Other comprehensive income not to be | ||||||||||
reclassified to profit or loss under the | ||||||||||
equity method | 0 | 0 | 0 | 0 | ||||||
3. Changes in fair value arising from other equity | ||||||||||
instruments investments | -19,292,454 | -52,828,780 | -25,572,822 | -52,828,780 | ||||||
4. Changes in fair value arising from corporate | ||||||||||
credit risk | 0 | 0 | 0 | 0 | ||||||
(2) | Other comprehensive income to be reclassified into | |||||||||
profit or loss | 1,762,520 | 1,500,768 | 2,143,812 | 2,000,645 | ||||||
1. Other comprehensive income to be reclassified | ||||||||||
into profit or loss under the equity method | 0 | 0 | 0 | 0 | ||||||
2. Change in fair value of other debt investments | 0 | 0 | 0 | 0 | ||||||
3. Gains or losses arising from changes in fair | ||||||||||
value of available-for-sale financial assets | 0 | 0 | 0 | 0 | ||||||
4. Financial assets reclassified into other | ||||||||||
comprehensive income | 0 | 0 | 0 | 0 | ||||||
5. Gains or losses from reclassifying | ||||||||||
held-to-maturity investments to | ||||||||||
available-for-sale financial assets | 0 | 0 | 0 | 0 | ||||||
6. Credit impairment provision for other | ||||||||||
debt instruments | 0 | 0 | 0 | 0 | ||||||
7. Reserve for cash flow hedging (Effective part of | ||||||||||
cashflow hedging gains and losses) | 0 | 0 | 0 | 0 | ||||||
8. Exchange differences on foreign currency | ||||||||||
financial statements translation | 1,762,520 | 1,500,768 | 2,143,812 | 2,000,645 | ||||||
9. Others | 0 | 0 | 0 | 0 | ||||||
Other comprehensive income (net of tax) attributable to | ||||||||||
minority interests | 0 | 0 | 0 | 0 | ||||||
VII. | Total comprehensive income | 1,428,676,941 | 2,897,824,669 | 6,397,108,319 | 9,843,192,589 | |||||
Total comprehensive income attributable to the owners | ||||||||||
of the parent company | 1,398,653,593 | 2,895,904,299 | 6,311,593,616 | 9,809,506,856 | ||||||
Total comprehensive income attributable to minority | ||||||||||
interests | 30,023,348 | 1,920,370 | 85,514,703 | 33,685,733 | ||||||
VIII. | Earnings per share: | |||||||||
(1) | Basic earnings per share (Yuan/share) | 0.14 | 0.29 | 0.62 | 0.97 | |||||
(2) | Diluted earnings per share (Yuan/share) | 0.14 | 0.28 | 0.62 | 0.95 |
Principal accounting | Manager of the accounting | |
Legal representative: | responsible person: | department: |
ZENG Qinghong | WANG Dan | ZHENG Chao |
18
Income Statement of the Parent Company
From January to September 2019
Prepared by: Guangzhou Automobile Group Co., Ltd.
Unit: Yuan Currency: RMB | Type of audit: unaudited | ||||||||||||
The third | The third | The first three | The first three | ||||||||||
quarter of 2019 | quarter of 2018 | quarters of 2019 | quarters of 2018 | ||||||||||
(July to | (July to | (January to | (January to | ||||||||||
Item | September) | September) | September) | September) | |||||||||
I. | Revenue from operations | 98,893,079 | 36,920,680 | 246,348,040 | 184,437,014 | ||||||||
Less: Cost of operations | 40,786,724 | 28,639,093 | 154,426,144 | 154,649,378 | |||||||||
Taxes and surcharges | 3,430,484 | 4,993,779 | 11,243,688 | 11,573,966 | |||||||||
Selling expenses | 0 | 0 | 0 | 0 | |||||||||
Management expenses | 77,941,522 | 376,026,634 | 220,782,232 | 1,070,459,178 | |||||||||
Research and development expenses | 372,735,128 | 125,902,411 | 1,035,567,535 | 341,723,447 | |||||||||
Financial expenses | -8,931,934 | -9,245,706 | 13,338,318 | -40,991,522 | |||||||||
Including: Interests expenses | 56,050,613 | 54,299,360 | 176,163,414 | 181,570,713 | |||||||||
Interest income | 67,962,952 | 92,441,117 | 217,844,685 | 306,199,468 | |||||||||
Add: Other income | 35,131,927 | 29,335,367 | 101,506,010 | 92,171,718 | |||||||||
Gains on investment (loss is represented by "-") | 2,392,575,345 | 2,284,935,223 | 6,786,752,287 | 6,699,836,368 | |||||||||
Including: Gains from investment in associated | |||||||||||||
companies and joint ventures | 2,372,570,031 | 2,257,710,505 | 6,736,712,012 | 6,592,014,283 | |||||||||
Derecognition gains on financial assets | |||||||||||||
measured at amortised cost | 0 | 0 | 0 | 0 | |||||||||
Net gain from hedging exposure | |||||||||||||
(loss is represented by "-") | 0 | 0 | 0 | 0 | |||||||||
Gains on change in fair value | |||||||||||||
(loss is represented by "-") | 7,462,500 | 0 | 0 | 0 | |||||||||
Impairment loss of credits | |||||||||||||
(loss is represented by "-") | 0 | 0 | 0 | 0 | |||||||||
Impairment loss of assets | |||||||||||||
(loss is represented by "-") | 0 | 0 | 0 | -66,612,194 | |||||||||
Gains on disposal of assets | |||||||||||||
(loss is represented by "-") | -14,386 | 3,975 | 0 | -1,375 | |||||||||
II. | Operating profit (loss is represented by "-") | 2,048,086,541 | 1,824,879,034 | 5,699,248,420 | 5,372,417,084 | ||||||||
Add: Non-operating income | 344,110 | 30,771 | 470,488,074 | 70,092,973 | |||||||||
Less: Non-operating expenses | 1,200,000 | 1,530,000 | 8,756,498 | 8,621,424 | |||||||||
III. | Total profit (total loss is represented by "-") | 2,047,230,651 | 1,823,379,805 | 6,160,979,996 | 5,433,888,633 | ||||||||
Less: Income tax expenses | 0 | 0 | 0 | 0 |
19
The third | The third | The first three | The first three | ||
quarter of 2019 | quarter of 2018 | quarters of 2019 | quarters of 2018 | ||
(July to | (July to | (January to | (January to | ||
Item | September) | September) | September) | September) | |
IV. | Net profit (net loss is represented by "-") | 2,047,230,651 | 1,823,379,805 | 6,160,979,996 | 5,433,888,633 |
- Net profit from continuing operations
(net loss is represented by "-") | 2,047,230,651 | 1,823,379,805 | 6,160,979,996 | 5,433,888,633 |
- Net profit from discontinued operations
(net loss is represented by "-") | 0 | 0 | 0 | 0 | |
V. | Other comprehensive income (net of tax) | 0 | 0 | 0 | 0 |
- Other comprehensive income not to be reclassified
into profit or loss | 0 | 0 | 0 | 0 |
- Other comprehensive income to be reclassified into
profit or loss | 0 | 0 | 0 | 0 | |||||
1. | Other comprehensive income to be reclassified | ||||||||
into profit or loss under the equity method | 0 | 0 | 0 | 0 | |||||
2. | Change in fair value of other debt investments | 0 | 0 | 0 | 0 | ||||
3. | Gains or losses arising from changes in | ||||||||
fair value of available-for-sale financial assets | 0 | 0 | 0 | 0 | |||||
4. | Financial assets reclassified into other | ||||||||
comprehensive income | 0 | 0 | 0 | 0 |
VI. Total comprehensive income | 2,047,230,651 | 1,823,379,805 | 6,160,979,996 | 5,433,888,633 |
Principal accounting | Manager of the accounting | |||
Legal representative: | responsible person: | department: | ||
ZENG Qinghong | WANG Dan | ZHENG Chao |
20
Consolidated Cash Flow Statement
From January to September 2019
Prepared by: Guangzhou Automobile Group Co., Ltd.
Unit: Yuan | Currency: RMB Type of audit: unaudited | |
The first three | The first three | |
quarters of | quarters of | |
2019 (January | 2018 (January | |
Item | to September) | to September) |
- Cash flow generated from operating activities: Cash received from sales of goods and rendering
labour services | 50,991,786,456 | 59,921,396,322 | ||
Net increase in deposits from customer and other banks | -7,174,295,981 | -3,750,267,252 | ||
Net increase in borrowings from PBOC | 0 | 0 | ||
Cash received from interest, | ||||
handling fees and commissions | 423,953,828 | 544,942,621 | ||
Tax rebates | 223,954,571 | 151,037,530 | ||
Other cash received from activities relating to operation | 3,305,834,026 | 3,202,027,877 | ||
Sub-total of cash inflows from operating activities | 47,771,232,900 | 60,069,137,098 | ||
Cash paid for goods and services | 43,734,534,339 | 50,332,733,716 | ||
Net increase in customer loans and advances | 335,129,110 | -31,350,000 | ||
Net increase in deposit in PBOC and interbank deposits | -572,350,000 | 107,000,000 | ||
Cash paid for interest, handling fees | ||||
and commissions | 137,957,372 | 60,895,230 | ||
Cash paid to and on behalf of employees | 5,088,108,519 | 4,529,269,337 | ||
Tax payments | 2,410,908,319 | 5,246,972,515 | ||
Other cash payments related to operating activities | 5,747,595,627 | 5,042,004,288 | ||
Sub-total of cash outflows from operating activities | 56,881,883,286 | 65,287,525,086 | ||
Net cash flow from operating activities | -9,110,650,386 | -5,218,387,988 | ||
21
The first three | The first three | |
quarters of | quarters of | |
2019 (January | 2018 (January | |
Item | to September) | to September) |
- Cash flow generated from investing activities:
Cash received from disposal of investments | 3,293,512,011 | 2,617,692,558 | |||
Cash received from gains on investment | 7,576,359,213 | 6,668,053,716 | |||
Net cash received from disposal of fixed assets, | |||||
intangible assets and other long term assets | 24,224,538 | 17,764,013 | |||
Net cash received from disposal of subsidiaries and | |||||
other operating entities | 0 | 0 | |||
Other cash received from activities related | |||||
to investment | 645,766,312 | 253,013,278 | |||
Sub-total of cash inflows from investing activities | 11,539,862,074 | 9,556,523,565 | |||
Cash paid for purchase and construction of fixed assets, | |||||
intangible assets and other long term assets | 7,413,314,772 | 6,436,044,838 | |||
Cash paid for investment | 6,022,784,602 | 4,012,052,877 | |||
Net increase in pledged loans | 0 | 0 | |||
Net cash paid for acquiring subsidiaries and other | |||||
operating entities | 0 | -152,336,945 | |||
Other cash paid for activities related to investment | 224,504,692 | 24,453,290 | |||
Sub-total of cash outflows from investing activities | 13,660,604,066 | 10,320,214,060 | |||
Net cash flow generated from investing activities | -2,120,741,992 | -763,690,495 | |||
- Net cash flow generated from financing activities:
Cash received from capital contributions | 1,094,421,768 | 325,245,070 | ||
Including: Proceeds received by subsidiaries from | ||||
minority shareholders' investment | 1,071,645,000 | 259,274,141 | ||
Cash received from borrowings | 3,717,364,007 | 2,290,030,610 | ||
Other cash received from activities related to | ||||
financing activities | 5,960,350 | 299,905,947 | ||
22
The first three | The first three | |||||
quarters of | quarters of | |||||
2019 (January | 2018 (January | |||||
Item | to September) | to September) | ||||
Sub-total of cash inflows from financing activities | 4,817,746,125 | 2,915,181,627 | ||||
Cash repayments of borrowings | 2,837,475,413 | 2,091,948,161 | ||||
Dividends paid, profit distributed or interest paid | 3,904,381,061 | 4,615,476,207 | ||||
Including: Dividends and profit paid by subsidiaries to | ||||||
minority shareholders | 35,276,986 | 35,763,962 | ||||
Other cash paid for activities related to financing | ||||||
activities | 147,862,814 | 15,499,675 | ||||
Sub-total of cash outflows from financing activities | 6,889,719,288 | 6,722,924,043 | ||||
Net cash flow from financing activities | -2,071,973,163 | -3,807,742,416 | ||||
IV. | Effects of changes in exchange rate on cash and | |||||
cash equivalents | 48,296,515 | 77,582,696 | ||||
V. | Net increase in cash and cash equivalents | -13,255,069,026 | -9,712,238,203 | |||
Add: Cash and cash equivalents at the beginning of | ||||||
the period | 38,066,267,453 | 47,312,050,783 | ||||
VI. | Cash and cash equivalents at the end of the period | 24,811,198,427 | 37,599,812,580 | |||
Principal accounting | Manager of the accounting | |||||
Legal representative: | responsible person: | department: | ||||
ZENG Qinghong | WANG Dan | ZHENG Chao |
23
Cash Flow Statement of the Parent Company
From January to September 2019
Prepared by: Guangzhou Automobile Group Co., Ltd.
Unit: Yuan | Currency: RMB Type of audit: unaudited | |
Amount for | Amount for | |
the first three | the first three | |
quarters of | quarters of | |
2019 (January | 2018 (January | |
Item | to September) | to September) |
- Cash flow generated from operating activities: Cash received from sales of goods and rendering
labour services | 277,730,703 | 1,866,768,818 | ||
Tax rebates | 0 | 0 | ||
Other cash received from activities related | ||||
to operation | 2,287,179,432 | 1,278,700,163 | ||
Sub-total of cash inflows from operating activities | 2,564,910,135 | 3,145,468,981 | ||
Cash paid for goods and labour services | 14,970,508 | 4,446,860 | ||
Cash paid to and on behalf of employees | 587,192,743 | 579,680,810 | ||
Tax payments | 43,841,170 | 70,882,731 | ||
Other cash payments related to operating activities | 481,915,460 | 506,503,783 | ||
Sub-total of cash outflows from operating activities | 1,127,919,881 | 1,161,514,184 | ||
Net cash flow from operating activities | 1,436,990,254 | 1,983,954,797 | ||
24
Amount for | Amount for | |
the first three | the first three | |
quarters of | quarters of | |
2019 (January | 2018 (January | |
Item | to September) | to September) |
- Cash flow generated from investing activities:
Cash received from disposal of investments | 55,134,961 | 231,592,750 | |||
Cash received from gains on investment | 6,911,987,789 | 5,572,813,532 | |||
Net cash received from disposal of fixed assets, | |||||
intangible assets and other long term assets | 713,300 | 2,600 | |||
Net cash received from disposal of subsidiaries and | |||||
other operating entities | 0 | 0 | |||
Other cash received from activities related to | |||||
investing activities | 395,350,000 | 231,720,000 | |||
Sub-total of cash inflows from investing activities | 7,363,186,050 | 6,036,128,882 | |||
Cash paid for purchase and construction of fixed assets, | |||||
intangible assets and other long term assets | 2,567,162,915 | 1,992,745,592 | |||
Cash paid for investment | 3,765,442,996 | 3,583,701,372 | |||
Net cash paid for acquiring subsidiaries and other | |||||
operating entities | 0 | 0 | |||
Other cash paid for activities related to | |||||
investing activities | 392,350,000 | 165,040,000 | |||
Sub-total of cash outflows from investing activities | 6,724,955,911 | 5,741,486,964 | |||
Net cash flow from investing activities | 638,230,139 | 294,641,918 | |||
25
Amount for | Amount for | |
the first three | the first three | |
quarters of | quarters of | |
2019 (January | 2018 (January | |
Item | to September) | to September) |
- Net cash flow generated from financing activities:
Cash received from absorption of investments | 22,776,768 | 65,970,929 | |||
Cash received from borrowing | 0 | 0 | |||
Other cash received from financing-related activities | 0 | 0 | |||
Sub-total of cash inflows from financing activities | 22,776,768 | 65,970,929 | |||
Cash repayments of borrowings | 0 | 1,000,000,000 | |||
Dividends paid, profit distributed or interest paid | 3,655,012,201 | 4,474,674,921 | |||
Other cash paid for financing-related activities | 0 | 5,000,000 | |||
Sub-total of cash outflows from financing activities | 3,655,012,201 | 5,479,674,921 | |||
Net cash flows from financing activities | -3,632,235,433 | -5,413,703,992 | |||
IV. | Effects of changes in exchange rate on cash and | ||||
cash equivalents | 0 | 0 | |||
V. | Net increase in cash and cash equivalents | -1,557,015,040 | -3,135,107,277 | ||
Add: Cash and cash equivalents at the beginning of | |||||
the period | 12,699,469,013 | 18,311,943,745 |
VI. Cash and cash equivalents at the end of the period | 11,142,453,973 | 15,176,836,468 |
Principal accounting | Manager of the accounting | |
Legal representative: | responsible person: | department: |
ZENG Qinghong | WANG Dan | ZHENG Chao |
26
4.2 Information on making adjustment on related items in the financial statement at the beginning of such year for the initial implementation time against initial application of the new financial instruments standards, new revenue standards and new lease standards
Implementation of the "Accounting Standards for Business Enterprises No. 21 - Lease" (Cai Kuai [2018] No. 35)
The Ministry of Finance revised the "Accounting Standards for Business Enterprises No. 21 - Lease" (the "New Lease Principle") in 2018. The New Lease Principle adopts a single model similar to that used for existing accounting treatment of financial leases, requiring the lessee to recognise right-of-use asset and lease liability for all leases (except for short- term leases and low value assets leases), and to recognise depreciations and interests expense, respectively. The Group started to handle accounting treatment in accordance with the New Lease Principle since 1 January 2019 (the "initial implementation date"), and elected not to re-evaluate whether contracts, which has existed before the initial implementation date, were leases or contained leases; and in accordance with the transitional rules, the retained earnings at the beginning of 2019 and other related items in the financial statement will be adjusted according to the cumulative impact of the initial implementation of the New Lease Principle, while comparative information will not be adjusted.
The impact of the implementation of New Lease Principle in the Group's consolidated balance sheet and each item on the balance sheet of the Company as at 1 January 2019 are summarised as follows:
Consolidated Balance Sheet | |||
Unit: Yuan | Currency: RMB | ||
Item | 31 December 2018 | 1 January 2019 | Adjustments |
Current assets: | |||
Monetary fund | 41,908,206,320 | 41,908,206,320 | 0 |
Balances with clearing companies | 0 | 0 | 0 |
Placements with banks and other | |||
financial institutions | 0 | 0 | 0 |
Trading financial assets | 967,734,031 | 967,734,031 | 0 |
Financial assets measured at fair value and changes | |||
of which are recorded in profit or loss | |||
for the period | 0 | 0 | 0 |
Derivative financial assets | 0 | 0 | 0 |
Bills receivables | 4,756,831,774 | 4,756,831,774 | 0 |
27
Item | 31 December 2018 | 1 January 2019 | Adjustments | |||
Trade receivables | 2,158,534,878 | 2,158,534,878 | 0 | |||
Finance receivables | 0 | 0 | 0 | |||
Prepayments | 1,425,551,606 | 1,425,551,606 | 0 | |||
Premiums receivable | 0 | 0 | 0 | |||
Reinsurance accounts receivable | 0 | 0 | 0 | |||
Deposits receivable from reinsurance contract | 0 | 0 | 0 | |||
Other receivables | 4,460,768,706 | 4,460,768,706 | 0 | |||
Including: Interests receivable | 261,675,373 | 261,675,373 | 0 | |||
Dividends receivable | 3,202,843,757 | 3,202,843,757 | 0 | |||
Purchases of resold financial assets | 0 | 0 | 0 | |||
Inventories | 6,729,797,363 | 6,729,797,363 | 0 | |||
Contractual assets | 0 | 0 | 0 | |||
Held-for-sale assets | 0 | 0 | 0 | |||
Non-current assets due within one year | 1,139,427,756 | 1,139,427,756 | 0 | |||
Other current assets | 2,664,125,123 | 2,664,125,123 | 0 | |||
Total current assets | 66,210,977,557 | 66,210,977,557 | 0 | |||
Non-current assets: | ||||||
Loans and advances granted | 0 | 0 | 0 | |||
Debt investments | 230,000,000 | 230,000,000 | 0 | |||
Available-for-sale financial assets | 0 | 0 | 0 | |||
Other debt investments | 0 | 0 | 0 | |||
Held-to-maturity investments | 0 | 0 | 0 | |||
Long-term receivables | 859,678,951 | 859,678,951 | 0 | |||
Long-term equity investments | 28,972,887,407 | 28,972,887,407 | 0 | |||
Other investments in equity instruments | 1,215,243,831 | 1,215,243,831 | 0 | |||
Other non-current financial assets | 1,588,786,067 | 1,588,786,067 | 0 | |||
Investment properties | 1,485,993,965 | 1,485,993,965 | 0 | |||
Fixed assets | 13,887,461,905 | 13,887,461,905 | 0 | |||
Construction in progress | 2,222,861,910 | 2,222,861,910 | 0 | |||
Productive biological assets | 0 | 0 | 0 | |||
Fuel assets | 0 | 0 | 0 | |||
Right-of-use assets | 0 | 361,120,263 | 361,120,263 | |||
Intangible assets | 8,555,985,063 | 8,555,985,063 | 0 | |||
Development expenses | 3,780,217,706 | 3,780,217,706 | 0 | |||
Goodwill | 104,504,775 | 104,504,775 | 0 | |||
Long-term deferred expenditures | 375,060,400 | 375,060,400 | 0 | |||
Deferred income tax assets | 1,062,074,708 | 1,062,074,708 | 0 |
28
Item | 31 December 2018 | 1 January 2019 | Adjustments | ||||
Other non-current assets | 1,568,000,421 | 1,568,000,421 | 0 | ||||
Total non-current assets | 65,908,757,109 | 66,269,877,372 | 361,120,263 | ||||
Total assets | 132,119,734,666 | 132,480,854,929 | 361,120,263 | ||||
Current liabilities: | |||||||
Short-term borrowings | 1,943,648,418 | 1,943,648,418 | 0 | ||||
Borrowings from the central bank | 0 | 0 | 0 | ||||
Placements from banks and other | |||||||
financial institutions | 0 | 0 | 0 | ||||
Trading financial liabilities | 0 | 0 | 0 | ||||
Financial liabilities measured at fair value and | |||||||
changes of which are recorded in profit or | |||||||
loss for the period | 0 | 0 | 0 | ||||
Derivative financial liabilities | 0 | 0 | |||||
Bills payables | 834,771,866 | 834,771,866 | 0 | ||||
Trade payables | 11,438,369,559 | 11,438,369,559 | 0 | ||||
Receipts in advance | 0 | 0 | |||||
Contractual liabilities | 1,335,696,416 | 1,335,696,416 | 0 | ||||
Financial assets sold under repurchase agreements | 0 | 0 | |||||
Deposit taking and deposit in inter-bank market | 9,746,028,302 | 9,746,028,302 | 0 | ||||
Customer brokerage deposits | 0 | 0 | 0 | ||||
Amounts due for securities underwriting | 0 | 0 | 0 | ||||
Staff remuneration payable | 2,190,000,649 | 2,190,000,649 | 0 | ||||
Taxes payable | 1,104,592,424 | 1,104,592,424 | 0 | ||||
Other payables | 9,534,696,475 | 9,534,696,475 | 0 | ||||
Including: Interests payable | 293,324,139 | 293,324,139 | 0 | ||||
Dividends payable | 0 | 0 | 0 | ||||
Handling charges and commissions payable | 0 | 0 | 0 | ||||
Reinsurance accounts payable | 0 | 0 | 0 | ||||
Held-for-sale liabilities | 0 | 0 | 0 | ||||
Non-current liabilities due within one year | 1,253,047,069 | 1,253,047,069 | 0 | ||||
Other current liabilities | 1,118,516,798 | 1,118,516,798 | 0 | ||||
Total current liabilities | 40,499,367,976 | 40,499,367,976 | 0 | ||||
Non-current liabilities: | |||||||
Deposits for insurance contracts | 0 | 0 | 0 | ||||
Long-term borrowings | 1,536,465,261 | 1,536,465,261 | 0 | ||||
Debentures payable | 8,074,995,939 | 8,074,995,939 | 0 |
29
Item | 31 December 2018 | 1 January 2019 | Adjustments | ||
Including: preference shares | 0 | 0 | 0 | ||
perpetual bonds | 0 | 0 | 0 | ||
Lease liabilities | 0 | 361,120,263 | 361,120,263 | ||
Long-term payables | 77,207,802 | 77,207,802 | 0 | ||
Long-term staff remuneration payable | 0 | 0 | 0 | ||
Estimated liabilities | 674,555,515 | 674,555,515 | 0 | ||
Deferred income | 3,054,205,686 | 3,054,205,686 | 0 | ||
Deferred income tax liabilities | 160,977,489 | 160,977,489 | 0 | ||
Other non-current liabilities | 121,277,151 | 121,277,151 | 0 | ||
Total non-current liabilities | 13,699,684,843 | 14,060,805,106 | 361,120,263 | |||||
Total liabilities | 54,199,052,819 | 54,560,173,082 | 361,120,263 | |||||
Owners' equity (or shareholders' equity): | ||||||||
Paid-in capital (or share capital) | 10,232,497,472 | 10,232,497,472 | 0 | |||||
Other equity instrument | 240,942,393 | 240,942,393 | 0 | |||||
Including: preference shares | 0 | 0 | 0 | |||||
perpetual bonds | 0 | 0 | 0 | |||||
Capital reserve | 22,382,799,762 | 22,382,799,762 | 0 | |||||
Less: treasury stock | 0 | 0 | 0 | |||||
Other comprehensive income | 268,155,437 | 268,155,437 | 0 | |||||
Special reserve | 22,713,034 | 22,713,034 | 0 | |||||
Surplus reserve | 3,817,299,366 | 3,817,299,366 | 0 | |||||
General risk provision | 341,631,173 | 341,631,173 | 0 | |||||
Undistributed profit | 39,243,790,071 | 39,243,790,071 | 0 | |||||
Total owners' equity (or shareholders' equity) | ||||||||
attributable to owners of the company | 76,549,828,708 | 76,549,828,708 | 0 | |||||
Minority interests | 1,370,853,139 | 1,370,853,139 | 0 | |||||
Total owners' equity (or shareholders' equity) | 77,920,681,847 | 77,920,681,847 | 0 | |||||
Total liabilities and owners' equity | ||||||||
(or shareholders' equity) | 132,119,734,666 | 132,480,854,929 | 361,120,263 | |||||
Explanation on adjustment to each item:
Applicable √ Not applicable
30
Balance Sheet of the Parent Company | |||||||
Unit: Yuan | Currency: RMB | ||||||
Item | 31 December 2018 | 1 January 2019 | Adjustments | ||||
Current assets: | |||||||
Monetary fund | 12,699,469,013 | 12,699,469,013 | 0 | ||||
Trading financial assets | 0 | 0 | 0 | ||||
Financial assets measured at fair value and changes | |||||||
of which are recorded in profit or loss | 0 | 0 | 0 | ||||
Derivative financial assets | 0 | 0 | 0 | ||||
Bills receivables | 0 | 0 | 0 | ||||
Trade receivables | 1,619,011,882 | 1,619,011,882 | 0 | ||||
Finance receivables | 0 | 0 | 0 | ||||
Prepayments | 62,832,235 | 62,832,235 | 0 | ||||
Other receivables | 3,537,675,053 | 3,537,675,053 | 0 | ||||
Including: Interests receivable | 41,326,896 | 41,326,896 | 0 | ||||
Dividends receivable | 3,311,765,599 | 3,311,765,599 | 0 | ||||
Inventories | 82,094,237 | 82,094,237 | 0 | ||||
Contractual assets | 0 | 0 | 0 | ||||
Held-for-sale assets | 0 | 0 | 0 | ||||
Non-current assets due within one year | 0 | 0 | 0 | ||||
Other current assets | 606,279,152 | 606,279,152 | 0 | ||||
Total current assets | 18,607,361,572 | 18,607,361,572 | 0 | ||||
Non-current assets: | |||||||
Debt investments | 0 | 0 | 0 | ||||
Available-for-sale financial assets | 0 | 0 | 0 | ||||
Other debt investments | 0 | 0 | 0 | ||||
Held-to-maturity investments | 0 | 0 | 0 | ||||
Long-term receivables | 0 | 0 | 0 | ||||
Long-term equity investments | 52,557,376,628 | 52,557,376,628 | 0 | ||||
Other investments in equity instruments | 0 | 0 | 0 | ||||
Other non-current financial assets | 662,343,500 | 662,343,500 | 0 | ||||
Investment properties | 522,518,480 | 522,518,480 | 0 | ||||
Fixed assets | 2,243,250,075 | 2,243,250,075 | 0 |
31
Item | 31 December 2018 | 1 January 2019 | Adjustments | ||||
Construction in progress | 179,797,747 | 179,797,747 | 0 | ||||
Productive biological assets | 0 | 0 | 0 | ||||
Fuel assets | 0 | 0 | 0 | ||||
Right-of-use assets | 0 | 0 | 0 | ||||
Intangible assets | 2,288,762,649 | 2,288,762,649 | 0 | ||||
Development expenses | 1,708,763,562 | 1,708,763,562 | 0 | ||||
Goodwill | 0 | 0 | 0 | ||||
Long-term deferred expenditures | 433,362 | 433,362 | 0 | ||||
Deferred income tax assets | 0 | 0 | 0 | ||||
Other non-current assets | 56,690,978 | 56,690,978 | 0 | ||||
Total non-current assets | 60,219,936,981 | 60,219,936,981 | 0 | ||||
Total assets | 78,827,298,553 | 78,827,298,553 | 0 | ||||
Current liabilities: | |||||||
Short-term borrowings | 0 | 0 | 0 | ||||
Trading financial liabilities | 0 | 0 | 0 | ||||
Financial liabilities measured at fair value and | |||||||
changes of which are recorded in profit or loss | 0 | 0 | 0 | ||||
Derivative financial liabilities | 0 | 0 | 0 | ||||
Bills payables | 0 | 0 | 0 | ||||
Trade payables | 272,458,441 | 272,458,441 | 0 | ||||
Receipts in advance | 0 | 0 | 0 | ||||
Contractual liabilities | 5,000,000 | 5,000,000 | 0 | ||||
Staff remuneration payable | 776,568,195 | 776,568,195 | 0 | ||||
Taxes payable | 62,003,112 | 62,003,112 | 0 | ||||
Other payables | 4,602,162,698 | 4,602,162,698 | 0 | ||||
Including: Interests payable | 233,486,958 | 233,486,958 | 0 | ||||
Dividends payable | 0 | 0 | 0 | ||||
Held-for-sale liabilities | 0 | 0 | 0 | ||||
Non-current liabilities due within one year | 119,633,373 | 119,633,373 | 0 | ||||
Other current liabilities | 0 | 0 | 0 | ||||
Total current liabilities | 5,837,825,819 | 5,837,825,819 | 0 | ||||
32
Item | 31 December 2018 | 1 January 2019 | Adjustments | ||||||
Non-current liabilities: | |||||||||
Long-term borrowings | 0 | 0 | 0 | ||||||
Debentures payable | 7,475,746,928 | 7,475,746,928 | 0 | ||||||
Including: preference shares | 0 | 0 | 0 | ||||||
perpetual bonds | 0 | 0 | 0 | ||||||
Lease liabilities | 0 | 0 | 0 | ||||||
Long-term payables | 0 | 0 | 0 | ||||||
Long-term staff remuneration payables | 0 | 0 | 0 | ||||||
Estimated liabilities | 0 | 0 | 0 | ||||||
Deferred income | 494,664,290 | 494,664,290 | 0 | ||||||
Deferred income tax liabilities | 0 | 0 | 0 | ||||||
Other non-current liabilities | 0 | 0 | 0 | ||||||
Total non-current liabilities | 7,970,411,218 | 7,970,411,218 | 0 | ||||||
Total liabilities | 13,808,237,037 | 13,808,237,037 | 0 | ||||||
Owners' equity (or shareholders' equity): | |||||||||
Paid-in capital (or share capital) | 10,232,497,472 | 10,232,497,472 | 0 | ||||||
Other equity instrument | 240,942,393 | 240,942,393 | 0 | ||||||
Including: preference shares | 0 | 0 | 0 | ||||||
perpetual bonds | 0 | 0 | 0 | ||||||
Capital reserve | 31,234,258,485 | 31,234,258,485 | 0 | ||||||
Less: treasury stock | 0 | 0 | 0 | ||||||
Other comprehensive income | 0 | 0 | 0 | ||||||
Special reserve | 0 | 0 | 0 | ||||||
Surplus reserve | 3,817,299,366 | 3,817,299,366 | 0 | ||||||
Undistributed profit | 19,494,063,800 | 19,494,063,800 | 0 | ||||||
Total owners' equity (or shareholders' equity) | 65,019,061,516 | 65,019,061,516 | 0 | ||||||
Total liabilities and owners' equity | |||||||||
(or shareholders' equity) | 78,827,298,553 | 78,827,298,553 | 0 | ||||||
Explanation on adjustment to each item:
Applicable √ Not applicable
33
-
Details of retrospective adjustment on the comparative figures in the previous period against initial application of the new financial instruments standards and new lease standards
Applicable √ Not applicable - Audited report
Applicable √ Not applicable
34
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Guangzhou Automobile Group Co. Ltd. published this content on 29 October 2019 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 29 October 2019 12:06:05 UTC