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
2021 FIRST QUARTERLY REPORT
This first 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 first 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, 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 first 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 | |||
As at the end | compared with | ||
of the reporting | As at the end of | the end of | |
period | last year | last year | |
(%) | |||
Total assets | 140,998,318,291 | 142,806,662,917 | -1.27 |
Net assets attributable to shareholders of the listed | |||
company | 86,822,367,106 | 84,321,007,368 | 2.97 |
From the | From the | ||
beginning of the | beginning of last | Increase/decrease | |
year to the end | year to the end of | as compared with | |
of the reporting | the last reporting | the same period | |
period | period | last year | |
(%) | |||
Net cash flow from operating activities | -5,251,059,359 | -6,473,241,577 | 18.88 |
From the | From the | ||
beginning of the | beginning of last | Increase/decrease | |
year to the end | year to the end of | as compared with | |
of the reporting | the last reporting | the same period | |
period | period | last year | |
(%) | |||
Revenue from operations | 15,889,501,168 | 10,765,458,808 | 47.60 |
Net profit attributable to shareholders of the listed | |||
company | 2,365,891,862 | 118,493,097 | 1,896.65 |
Net profit attributable to shareholders of the listed | |||
company after deduction of non-recurring profit | |||
or loss | 2,226,246,439 | -79,595,179 | 2,896.96 |
Return on net assets (weighted average) (%) | 2.76 | 0.15 | Increased by 2.61 |
percentage points | |||
Basic earnings per share (Yuan/share) | 0.23 | 0.01 | 2,200 |
Diluted earnings per share (Yuan/share) | 0.23 | 0.01 | 2,200 |
- 2 -
Non-recurring profit and loss items and amounts | ||
Unit: Yuan | Currency: RMB | |
Amount for the | ||
Item | period | |
Gains/losses on disposal of non-current assets | -350,353 | |
Government grants recognised in profit or loss for the current period (except for those | ||
closely related to the enterprise's business and conferred based on standard amounts or | ||
quantities in compliance with unified national standard) | 154,657,752 | |
Gain or loss from debt restructuring | 69,502 | |
Gain or loss from external entrusted loans | 300,299 | |
Other non-operating income and expense save as stated above | 4,554,576 | |
Impact on minority interests (after tax) | -2,447,755 | |
Impact on income tax | -17,138,598 | |
Total | 139,645,423 | |
- 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 (Note 1) | 122,338 | |||||
Shareholdings of the top ten shareholders | ||||||
Number of | Number of | |||||
shares held at | shares subject | |||||
the end | to trading | Under pledge or lock-up | Nature of | |||
Name of shareholder (full name) | of the period | Percentage (%) | moratorium | Status of shares | Number | shareholder |
Guangzhou Automobile Industry | 5,499,140,069 | 53.13 | 0 | Nil | 0 | State-owned legal |
Group Co., Ltd. (Note 2) | person | |||||
HKSCC NOMINEES LIMITED (Note 3) | 3,095,306,191 | 29.90 | 0 | Unknown | - | Overseas legal |
person | ||||||
Guangzhou Huiyin Tianyue Equity | 421,898,543 | 4.08 | 0 | Pledged | 210,949,271 | State-owned legal |
Investment Fund Management Co., | person | |||||
Ltd. | ||||||
Guangzhou State-owned Assets | 210,949,272 | 2.04 | 0 | Nil | 0 | State-owned legal |
Development Holdings Co., Ltd. | person | |||||
Guangzhou Finance Holdings Assets | 210,900,271 | 2.04 | 0 | Nil | 0 | Other |
Management Co., Ltd. - GFHAM | ||||||
Wealth Management Select No.3 | ||||||
Private Investment Fund | ||||||
Guangzhou Light Industry & Trade | 105,474,635 | 1.02 | 0 | Nil | 0 | State-owned legal |
Group Co., Ltd. | person | |||||
Shanghai Puxing Energy Limited | 104,362,100 | 1.01 | 0 | Nil | 0 | Domestic non-state- |
owned legal | ||||||
person | ||||||
Suiyong Holdings Co., Ltd. | 52,737,317 | 0.51 | 0 | Pledged | 52,737,317 | State-owned legal |
person | ||||||
Ningbo Mei Shan Baoshuigang | 41,852,306 | 0.40 | 0 | Nil | 0 | Domestic non-state- |
Area Jincheng Shazhou Equity | owned legal | |||||
Investment Co., Ltd. | person | |||||
Wei Zhaoqi | 31,131,900 | 0.30 | 0 | Nil | 0 | Domestic natural |
person |
- 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 | |
trading moratorium | Class of share | Number |
Guangzhou Automobile Industry Group Co., Ltd. (Note 2) HKSCC NOMINEES LIMITED (Note 3)
Guangzhou Huiyin Tianyue Equity Investment Fund Management Co., Ltd.
Guangzhou State-owned Assets Development Holdings Co., Ltd. Guangzhou Finance Holdings Assets Management Co., Ltd. - GFHAM Wealth Management Select No.3 Private Investment
Fund
Guangzhou Light Industry & Trade Group Co., Ltd. Shanghai Puxing Energy Limited
Suiyong Holdings Co., Ltd.
Ningbo Mei Shan Baoshuigang Area Jincheng Shazhou Equity Investment Co., Ltd.
Wei Zhaoqi
Related-party relationship or concerted party relationship among the above shareholders
5,499,140,069 | A shares, H shares | 5,499,140,069 |
3,095,306,191 | Overseas listed foreign | 3,095,306,191 |
shares | ||
421,898,543 | RMB ordinary shares | 421,898,543 |
210,949,272 | RMB ordinary shares | 210,949,272 |
210,900,271 | RMB ordinary shares | 210,900,271 |
105,474,635 | RMB ordinary shares | 105,474,635 |
104,362,100 | RMB ordinary shares | 104,362,100 |
52,737,317 | RMB ordinary shares | 52,737,317 |
41,852,306 | RMB ordinary shares | 41,852,306 |
31,131,900 | RMB ordinary shares | 31,131,900 |
Guangzhou Automobile Industry Group Co., Ltd., the largest shareholder of the Company, is not related to any of the above shareholders, nor is it 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: As at the end of the reporting period, the total number of shareholders was 122,338, of which the number of holders of A shares was 122,080 and number of holders of H shares was 258.
Note 2: Guangzhou Automobile Industry Group Co., Ltd. held 5,206,932,069 A shares of the Company in total, representing approximately 71.80% of the A shares of the Company. At the same time, it held 292,208,000 H shares of the Company through Southbound Trading of Shanghai - Hong Kong Stock Connect and its wholly-owned subsidiary in Hong Kong, Guangzhou Auto Group (Hong Kong) Limited, representing approximately 9.43% of the H shares of the Company. The total number of A and H shares of the Company held by Guangzhou Automobile Industry Group Co., Ltd. was therefore 5,499,140,069 shares, representing approximately 53.13% 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.
- 5 -
2.3 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 3 Not applicable
3. SIGNIFICANT EVENTS
3.1 Material changes in items of major accounting statements and financial indicators of the Company and the reasons thereof
Unit: 0'000 Currency: RMB | ||
Balance as | ||
at the end of | ||
the period or | ||
during the | Percentage | |
Item | period | change Reasons for change |
Deposit taking | 515,983.02 | -33.59% Mainly due to the combined effect of the |
and deposit | decrease in net increase amount of deposit | |
in interbank | at Guangzhou Automobile Group Finance | |
market | Co., Ltd. for non-consolidated enterprises, | |
etc. during the reporting period | ||
Contractual | 206,391.05 | 38.25% Mainly due to the significant year-on-year |
liabilities | increase in sales volume, etc. leading to an | |
increase in contractual liabilities during the | ||
reporting period | ||
Revenue from | 1,588,950.12 | 47.60% Mainly due to the combined effect of the |
operations | significant year-on-year increase in sales | |
volume, etc. during the reporting period as | ||
compared with that of the same period last | ||
year due to the impact of the pandemic | ||
Selling expenses | 83,369.82 | 47.97% Mainly due to the combined effect of the |
increase in sales volume leading to the year- | ||
on-year increase in advertising and marketing | ||
expenditures, etc. during the reporting period |
- 6 -
Balance as | ||
at the end of | ||
the period or | ||
during the | Percentage | |
Item | period | change Reasons for change |
Gains on | 344,257.00 | 263.02% Mainly due to the combined effect of the |
investment | increase in profit in joint and associated | |
corporations, etc. during the reporting period | ||
Cash received | 1,825,090.37 | 49.73% Mainly due to the combined effect of the |
from sales | increase in sales volume leading to an | |
of goods and | increase in cash received from sales, etc. | |
rendering | during the reporting period | |
labour services | ||
Cash paid for | 1,791,991.34 | 48.79% Mainly due to the combined effect of the |
goods and | increase in sales volume leading to an | |
labour services | increase in cash paid for goods, etc. during | |
the reporting period | ||
Cash paid for | 221,158.59 | 48.78% Mainly due to the combined effect of the |
investment | year-on-year increase in capital injection to | |
investee enterprises, etc. during the reporting | ||
period | ||
Cash received | 252,870.81 | 163.91% Mainly due to the combined effect of the |
from | increase in capital demand for the business | |
borrowings | development of certain enterprises, etc. | |
during the reporting period | ||
Cash repayments | 188,362.93 | -34.06% Mainly due to the combined effect of the |
of borrowings | repayment of RMB2 billion corporate bonds | |
during the same period last year leading to | ||
a year-on-year decrease in repayments of | ||
borrowings, etc. during the reporting period |
- 7 -
3.2 Analysis and explanation of progress and impact of significant events and their solutions
Applicable 3 Not applicable
3.3 Undertakings which have not yet been performed during the reporting period
Applicable 3 Not applicable
3.4 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 3 Not applicable
Guangzhou Automobile Group Co., Ltd.
Legal representative: ZENG Qinghong
29 April 2021
Guangzhou, the PRC, 29 April 2021
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 CHEN Xiaomu, CHEN Maoshan, CHEN Jun, DING Hongxiang and HAN Ying, and the independent non-executive directors of the Company are ZHAO Fuquan, XIAO Shengfang, WONG Hakkun and SONG Tiebo.
- 8 -
4. APPENDICES
4.1 Financial Statements
Consolidated Balance Sheet
31 March 2021
Prepared by: Guangzhou Automobile Group Co., Ltd.
Unit: Yuan | Currency: RMB Type of audit: unaudited | |||
31 March | 31 December | |||
Item | 2021 | 2020 | ||
Current assets: | ||||
Monetary fund | 20,505,630,118 | 28,500,073,385 | ||
Trading financial assets | 1,744,078,689 | 1,595,011,473 | ||
Bills receivables | 1,823,208,376 | 1,884,927,753 | ||
Trade receivables | 4,740,085,323 | 4,317,202,521 | ||
Financing receivables | 136,938,846 | 310,689,889 | ||
Prepayments | 1,711,315,945 | 1,158,327,818 | ||
Other receivables | 4,616,992,400 | 4,919,256,719 | ||
Including: Interests receivable | 0 | 0 | ||
Dividends receivable | 3,875,275,215 | 3,752,145,299 | ||
Inventories | 7,094,029,972 | 6,621,579,731 | ||
Contractual assets | 0 | 0 | ||
Non-current assets due within one year | 2,271,447,028 | 2,385,821,958 | ||
Other current assets | 4,738,562,694 | 4,950,017,895 | ||
Total current assets | 49,382,289,391 | 56,642,909,142 |
- 9 -
31 March | 31 December | ||
Item | 2021 | 2020 | |
Non-current assets: | |||
Loans and advances granted | 1,592,268,215 | 1,453,872,939 | |
Debt investments | 441,030,090 | 511,626,261 | |
Long-term receivables | 2,755,370,535 | 1,923,277,497 | |
Long-term equity investments | 37,770,747,734 | 33,381,141,720 | |
Other investments in equity instruments | 630,703,201 | 630,703,201 | |
Other non-current financial assets | 4,357,191,928 | 4,375,256,001 | |
Investment properties | 1,423,034,783 | 1,387,544,913 | |
Fixed assets | 18,115,725,240 | 18,359,877,096 | |
Construction in progress | 1,430,829,157 | 1,451,675,595 | |
Right-of-use assets | 1,413,127,402 | 1,430,051,223 | |
Intangible assets | 14,326,140,750 | 13,887,259,125 | |
Development expenses | 3,608,932,322 | 3,716,537,135 | |
Goodwill | 104,504,775 | 104,504,775 | |
Long-term deferred expenditures | 381,708,116 | 353,303,956 | |
Deferred income tax assets | 2,372,190,048 | 2,123,603,919 | |
Other non-current assets | 892,524,604 | 1,073,518,419 | |
Total non-current assets | 91,616,028,900 | 86,163,753,775 | |
Total assets | 140,998,318,291 | 142,806,662,917 | |
- 10 -
31 March | 31 December | ||
Item | 2021 | 2020 | |
Current liabilities: | |||
Short-term borrowings | 2,653,950,778 | 3,555,512,515 | |
Bills payables | 813,389,928 | 1,077,553,711 | |
Trade payables | 11,614,914,624 | 11,802,324,993 | |
Receipts in advance | 0 | 0 | |
Contractual liabilities | 2,063,910,451 | 1,492,858,502 | |
Deposit taking and deposit in interbank market | 5,159,830,223 | 7,770,011,413 | |
Staff remuneration payable | 1,714,608,036 | 2,413,050,946 | |
Taxes payable | 585,461,964 | 778,824,892 | |
Other payables | 7,795,697,748 | 8,948,709,209 | |
Including: Interests payable | 0 | 0 | |
Dividends payable | 13,211,628 | 7,234,428 | |
Non-current liabilities due within one year | 3,143,570,205 | 3,020,246,601 | |
Other current liabilities | 1,121,519,783 | 1,525,456,631 |
Total current liabilities | 36,666,853,740 | 42,384,549,413 | |
Non-current liabilities: | |||
Long-term borrowings | 3,702,710,484 | 2,878,882,393 | |
Debentures payable | 5,580,869,139 | 5,594,290,335 | |
Including: Preference shares | 0 | 0 | |
Perpetual bonds | 0 | 0 | |
Lease liabilities | 1,295,474,786 | 1,303,479,427 | |
Long-term payables | 0 | 0 | |
Long-term staff remuneration payable | 83,840,000 | 83,840,000 | |
Estimated liabilities | 847,798,458 | 602,579,289 | |
Deferred income | 2,749,990,477 | 2,714,460,250 | |
Deferred income tax liabilities | 212,344,028 | 138,031,841 | |
Other non-current liabilities | 714,068,565 | 446,945,975 | |
Total non-current liabilities | 15,187,095,937 | 13,762,509,510 | |
Total liabilities | 51,853,949,677 | 56,147,058,923 |
- 11 -
31 March | 31 December | |||||
Item | 2021 | 2020 | ||||
Owners' equity (or shareholders' equity): | ||||||
Paid-in capital (or share capital) | 10,350,996,493 | 10,349,696,817 | ||||
Other equity instruments | 240,636,905 | 240,641,814 | ||||
Including: Preference shares | 0 | 0 | ||||
Perpetual bonds | 0 | 0 | ||||
Capital reserve | 23,168,936,708 | 23,029,972,713 | ||||
Less: Treasury stock | 509,485,637 | 509,485,637 | ||||
Other comprehensive income | 400,385,530 | 406,221,000 | ||||
Special reserve | 43,120,318 | 41,595,734 | ||||
Surplus reserve | 5,498,401,539 | 5,498,401,539 | ||||
General risk provision | 413,798,316 | 413,798,316 | ||||
Undistributed profit | 47,215,576,934 | 44,850,165,072 | ||||
Total owners' equity (or shareholders' equity) | ||||||
attributable to the parent company | 86,822,367,106 | 84,321,007,368 | ||||
Minority interests | 2,322,001,508 | 2,338,596,626 | ||||
Total owners' equity (or shareholders' | ||||||
equity) | 89,144,368,614 | 86,659,603,994 | ||||
Total liabilities and owners' equity (or | ||||||
shareholders' equity) | 140,998,318,291 | 142,806,662,917 | ||||
Person in charge of the | Principal accounting | Manager of the accounting | ||||
Company: | responsible person: | department: | ||||
ZENG Qinghong | WANG Dan | ZHENG Chao |
- 12 -
Balance Sheet of the Parent Company
31 March 2021
Prepared by: Guangzhou Automobile Group Co., Ltd.
Unit: Yuan | Currency: RMB Type of audit: unaudited | ||||
31 March | 31 December | ||||
Item | 2021 | 2020 | |||
Current assets: | |||||
Monetary fund | 9,142,256,007 | 11,478,993,645 | |||
Bills receivables | 0 | 0 | |||
Trade receivables | 873,630,071 | 962,986,389 | |||
Prepayments | 0 | 0 | |||
Other receivables | 3,794,656,244 | 3,776,194,270 | |||
Including: Interests receivable | 0 | 0 | |||
Dividends receivable | 3,710,000,000 | 3,710,000,000 | |||
Inventories | 25,923,811 | 29,420,494 | |||
Contractual assets | 0 | 0 | |||
Assets classified as available-for-sale | 0 | 0 | |||
Non-current assets due within one year | 0 | 0 | |||
Other current assets | 842,688,992 | 937,833,720 | |||
Total current assets | 14,679,155,125 | 17,185,428,518 |
- 13 -
31 March | 31 December | ||
Item | 2021 | 2020 | |
Non-current assets: | |||
Debt investments | 0 | 0 | |
Other debt investments | 0 | 0 | |
Long-term receivables | 0 | 0 | |
Long-term equity investments | 64,257,877,982 | 59,834,091,694 | |
Other investments in equity instruments | 0 | 0 | |
Other non-current financial assets | 997,005,669 | 997,005,669 | |
Investment properties | 462,400,227 | 466,216,332 | |
Fixed assets | 2,737,463,731 | 2,774,834,649 | |
Construction in progress | 514,412,460 | 428,583,413 | |
Right-of-use assets | 6,775,946 | 9,486,557 | |
Intangible assets | 5,535,224,118 | 5,041,119,792 | |
Development expenses | 2,124,340,027 | 2,269,487,553 | |
Goodwill | 0 | 0 | |
Long-term deferred expenditures | 4,035,269 | 4,367,629 | |
Deferred income tax assets | 0 | 0 | |
Other non-current assets | 252,132,171 | 258,089,672 | |
Total non-current assets | 76,891,667,600 | 72,083,282,960 | |
Total assets | 91,570,822,725 | 89,268,711,478 | |
Current liabilities: | |||
Short-term borrowings | 0 | 0 | |
Bills payables | 0 | 0 | |
Trade payables | 202,584,526 | 230,371,069 | |
Receipts in advance | 0 | 0 | |
Contractual liabilities | 52,862,884 | 28,888,976 | |
Staff remuneration payable | 667,282,468 | 903,849,676 | |
Taxes payable | 220,935,731 | 46,766,722 | |
Other payables | 4,906,238,554 | 4,945,344,800 | |
Including: Interests payable | 0 | 0 | |
Dividends payable | 0 | 0 | |
Liabilities classified as available-for-sale | 0 | 0 | |
Non-current liabilities due within one year | 43,451,731 | 157,933,624 | |
Other current liabilities | 45,538,696 | 46,745,260 | |
Total current liabilities | 6,138,894,590 | 6,359,900,127 |
- 14 -
31 March | 31 December | ||||
Item | 2021 | 2020 | |||
Non-current liabilities: | |||||
Long-term borrowings | 0 | 0 | |||
Debentures payable | 5,580,869,139 | 5,594,290,335 | |||
Including: Preference shares | 0 | 0 | |||
Perpetual bonds | 0 | 0 | |||
Lease liabilities | 1,958,463 | 2,873,450 | |||
Long-term payables | 0 | 0 | |||
Long-term staff remuneration payable | 47,270,000 | 47,270,000 | |||
Estimated liabilities | 0 | 0 | |||
Deferred income | 545,210,376 | 567,970,707 | |||
Deferred income tax liabilities | 0 | 0 | |||
Other non-current liabilities | 0 | 0 | |||
Total non-current liabilities | 6,175,307,978 | 6,212,404,492 | |||
Total liabilities | 12,314,202,568 | 12,572,304,619 | |||
Owners' equity (or shareholders' equity): | |||||
Paid-in capital (or share capital) | 10,350,996,493 | 10,349,696,817 | |||
Other equity instruments | 240,636,905 | 240,641,814 | |||
Including: Preference shares | 0 | 0 | |||
Perpetual bonds | 0 | 0 | |||
Capital reserve | 31,852,839,356 | 31,713,875,362 | |||
Less: Treasury stock | 509,485,637 | 509,485,637 | |||
Other comprehensive income | -32,326 | -32,326 | |||
Special reserve | 0 | 0 | |||
Surplus reserve | 5,498,401,539 | 5,498,401,539 | |||
Undistributed profit | 31,823,263,827 | 29,403,309,290 | |||
Total owners' equity (or shareholders' | |||||
equity) | 79,256,620,157 | 76,696,406,859 | |||
Total liabilities and owners' equity (or | |||||
shareholders' equity) | 91,570,822,725 | 89,268,711,478 | |||
Person in charge of the | Principal accounting | Manager of the accounting | |||
Company: | responsible person: | department: | |||
ZENG Qinghong | WANG Dan | ZHENG Chao |
- 15 -
Consolidated Income Statement
From January to March 2021
Prepared by: Guangzhou Automobile Group Co., Ltd.
Unit: Yuan | Currency: RMB Type of audit: unaudited | |
First quarter of | First quarter of | |
Item | 2021 | 2020 |
I. Total revenue from operations | 16,023,651,985 | 10,877,703,889 |
Including: Revenue from operations | 15,889,501,168 | 10,765,458,808 |
Interest income | 134,150,817 | 112,245,081 |
II. Total cost of operations | 17,255,911,794 | 11,960,711,856 |
Including: Cost of operations | 15,007,868,369 | 10,339,533,789 |
Interest expenses | 28,794,880 | 22,730,326 |
Taxes and surcharges | 386,755,496 | 241,844,374 |
Selling expenses | 833,698,229 | 563,430,230 |
Management expenses | 683,824,199 | 635,766,208 |
Research and development | ||
expenses | 260,308,231 | 115,713,188 |
Financial expenses | 54,662,390 | 41,693,741 |
Including: Interests expenses | 117,814,163 | 104,038,434 |
Interest income | 54,623,638 | 69,863,342 |
Add: Other income | 154,502,294 | 208,547,767 |
Gains on investment (loss is represented | ||
by "-") | 3,442,570,034 | 948,301,221 |
Including: Gains from investment in | ||
associated companies and | ||
joint ventures | 3,331,513,658 | 892,533,323 |
Income from derecognition of | ||
financial assets at amortised | ||
cost | 0 | 0 |
Foreign exchange gains (loss is | ||
represented by "-") | 0 | 0 |
Net gains from hedging exposure (loss is | ||
represented by "-") | 0 | 0 |
Gains on change in fair value (loss is | ||
represented by "-") | -69,676,489 | -26,162,689 |
Impairment loss of credit (loss is | ||
represented by "-") | -10,066,487 | -33,671,028 |
Impairment loss of assets (loss is | ||
represented by "-") | -8,565,761 | 1,029,977 |
Gains on disposal of assets (loss is | ||
represented by "-") | 2,234,210 | 372,038 |
- 16 -
First quarter of | First quarter of | ||
Item | 2021 | 2020 | |
III. Operating profit (loss is represented by "-") | 2,278,737,992 | 15,409,319 | |
Add: Non-operating income | 5,628,283 | 7,266,758 | |
Less: Non-operating expenses | 1,031,108 | 13,163,421 | |
IV. Total profit (total loss is represented by "-") | 2,283,335,167 | 9,512,656 | |
Less: Income tax expenses | -65,961,577 | -102,135,445 | |
V. Net profit (net loss is represented by "-") | 2,349,296,744 | 111,648,101 | |
(I) Classified by continuity of operations | |||
1. Net profit from continuing operations | |||
(net loss is represented by "-") | 2,349,296,744 | 111,648,101 | |
2. Net profit from discontinued | |||
operations (net loss is represented | |||
by "-") | 0 | 0 | |
(II) Classified by ownership of the equity | |||
1. Net profit attributable to shareholders | |||
of the parent company (net loss is | |||
represented by "-") | 2,365,891,862 | 118,493,097 | |
2. Minority interests (net loss is | |||
represented by "-") | -16,595,118 | -6,844,996 | |
VI. Other comprehensive income (net of tax) | -5,835,470 | -123,136,865 | |
(I) Other comprehensive income (net of tax) | |||
attributable to owners of the parent | |||
company | -5,835,470 | -123,136,865 | |
1. Other comprehensive income not to | |||
be reclassified into profit or loss | 0 | -125,106,326 | |
(1) | Changes arising from the re- | ||
measurement of defined | |||
benefit plans | 0 | 0 | |
(2) | Other comprehensive income not | ||
to be reclassified to profit or | |||
loss under the equity method | 0 | 0 | |
(3) | Changes in fair value arising | ||
from other equity instruments | |||
investments | 0 | -125,106,326 | |
(4) | Changes in fair value arising | ||
from corporate credit risk | 0 | 0 |
- 17 -
First quarter of | First quarter of | |||
Item | 2021 | 2020 | ||
2. Other comprehensive income to be | ||||
reclassified into profit or loss | -5,835,470 | 1,969,461 | ||
(1) | Other comprehensive income to | |||
be reclassified into profit or | ||||
loss under the equity method | 0 | 0 | ||
(2) | Change in fair value of other | |||
debt investments | 0 | 0 | ||
(3) | Financial assets reclassified into | |||
other comprehensive income | 0 | 0 | ||
(4) | Credit impairment provision for | |||
other debt instruments | 0 | 0 | ||
(5) | Reserve for cash flow hedging | 0 | 0 | |
(6) | Exchange differences on foreign | |||
currency financial statements | ||||
translation | -5,835,470 | 1,969,461 | ||
(7) | Others | 0 | 0 | |
(II) | Other comprehensive income (net of tax) | |||
attributable to minority interests | 0 | 0 | ||
VII.Total comprehensive income | 2,343,461,274 | -11,488,764 | ||
(I) Total comprehensive income attributable | ||||
to the owners of the parent company | 2,360,056,392 | -4,643,768 | ||
(II) | Total comprehensive income attributable | |||
to minority interests | -16,595,118 | -6,844,996 | ||
VIII. Earnings per share: | ||||
(I) | Basic earnings per share (Yuan/share) | 0.23 | 0.01 | |
(II) | Diluted earnings per share (Yuan/share) | 0.23 | 0.01 |
Person in charge of the | Principal accounting | Manager of the accounting |
Company: | responsible person: | department: |
ZENG Qinghong | WANG Dan | ZHENG Chao |
- 18 -
Income Statement of the Parent Company
From January to March 2021
Prepared by: Guangzhou Automobile Group Co., Ltd.
Unit: Yuan Currency: RMB Type of audit: unaudited
First quarter of | First quarter of | |
Item | 2021 | 2020 |
I. Revenue from operations | 75,578,286 | 80,430,287 |
Less: Cost of operations | 64,789,370 | 36,831,689 |
Taxes and surcharges | 3,692,842 | 3,978,596 |
Selling expenses | 0 | 0 |
Management expenses | 208,567,665 | 6,795,093 |
Research and development expenses | 515,201,864 | 314,747,181 |
Financial expenses | -25,259,123 | 5,629,981 |
Including: Interests expenses | 48,157,350 | 41,912,490 |
Interest income | 60,048,468 | 51,032,307 |
Add: Other income | 46,567,283 | 39,255,648 |
Gains on investment (loss is represented | ||
by "-") | 3,064,806,744 | 915,984,901 |
Including: Gains from investment in | ||
associated companies and | ||
joint ventures | 3,064,782,910 | 915,984,901 |
Income from derecognition of | ||
financial assets at amortised | ||
cost | 0 | 0 |
Net gain from hedging exposure (loss is | ||
represented by "-") | 0 | 0 |
Gains on change in fair value (loss is | ||
represented by "-") | 0 | 0 |
Impairment loss of credit (loss is | ||
represented by "-") | 0 | 0 |
Impairment loss of assets (loss is | ||
represented by "-") | 0 | 0 |
Gains on disposal of assets (loss is | ||
represented by "-") | 0 | 0 |
II. Operating profit (loss is represented by "-") | 2,419,959,695 | 667,688,296 |
Add: Non-operating income | 33,808 | 17,494 |
Less: Non-operating expenses | 38,965 | 3,196,000 |
- 19 -
First quarter of | First quarter of | |
Item | 2021 | 2020 |
III. Total profit (total loss is represented by "-") | 2,419,954,538 | 664,509,790 |
Less: Income tax expenses | 0 | 0 |
IV. Net profit (net loss is represented by "-") | 2,419,954,538 | 664,509,790 |
(I) Net profit from continuing operations (net | ||
loss is represented by "-") | 2,419,954,538 | 664,509,790 |
(II) Net profit from discontinued operations | ||
(net loss is represented by "-") | 0 | 0 |
V. Other comprehensive income (net of tax) | 0 | 0 |
(I) Other comprehensive income not to be | ||
reclassified into profit or loss | 0 | 0 |
(II) Other comprehensive income to be | ||
reclassified into profit or loss | 0 | 0 |
1. Other comprehensive income to be | ||
reclassified into profit or loss under | ||
the equity method | 0 | 0 |
2. Change in fair value of other debt | ||
investments | 0 | 0 |
3. Financial assets reclassified into other | ||
comprehensive income | 0 | 0 |
VI. Total comprehensive income | 2,419,954,538 | 664,509,790 |
Person in charge of the | Principal accounting | Manager of the accounting |
Company: | responsible person: | department: |
ZENG Qinghong | WANG Dan | ZHENG Chao |
- 20 -
Consolidated Cash Flow Statement
From January to March 2021
Prepared by: Guangzhou Automobile Group Co., Ltd.
Unit: Yuan Currency: RMB Type of audit: unaudited
First quarter of | First quarter of | ||
Item | 2021 | 2020 | |
I. Cash flow generated from operating | |||
activities: | |||
Cash received from sales of goods and | |||
rendering labour services | 18,250,903,698 | 12,189,120,263 | |
Net increase in deposits from customer and | |||
other banks | -2,584,766,879 | -2,952,038,914 | |
Net increase in borrowings from PBOC | 218,472,430 | 0 | |
Cash received from interest, handling fees and | |||
commissions | 138,004,022 | 126,814,467 | |
Tax rebates | 12,543,729 | 103,156,621 | |
Other cash received from activities related to | |||
operation | 2,252,344,392 | 1,191,460,179 | |
Sub-total of cash inflows from operating | |||
activities | 18,287,501,392 | 10,658,512,616 | |
Cash paid for goods and labour services | 17,919,913,406 | 12,043,734,760 | |
Net increase in customer loans and advances | 403,030,329 | 897,369,846 | |
Net increase in deposit in PBOC and interbank | |||
deposits | -289,908,362 | -206,500,000 | |
Cash paid for interest, handling fees and | |||
commissions | 22,865,768 | 13,143,539 | |
Cash paid to and on behalf of employees | 2,184,865,223 | 1,996,872,274 | |
Tax payments | 1,036,429,086 | 535,344,526 | |
Other cash payments related to operating | |||
activities | 2,261,365,301 | 1,851,789,248 | |
Sub-total of cash outflows from operating | |||
activities | 23,538,560,751 | 17,131,754,193 | |
Net cash flow from operating activities | -5,251,059,359 | -6,473,241,577 | |
- 21 -
First quarter of | First quarter of | ||
Item | 2021 | 2020 | |
II. Cash flow generated from investing | |||
activities: | |||
Cash received from redemption of investments | 1,249,763,530 | 846,704,586 | |
Cash received from gains on investment | 57,968,486 | 31,461,030 | |
Net cash received from disposal of fixed | |||
assets, intangible assets and other long-term | |||
assets | 33,989,492 | 10,378,966 | |
Net cash received from disposal of subsidiaries | |||
and other operating entities | 0 | 0 | |
Other cash received from activities related to | |||
investment | 21,326,964 | 89,956,081 | |
Sub-total of cash inflows from investing | |||
activities | 1,363,048,472 | 978,500,663 | |
Cash paid for purchase and construction of | |||
fixed assets, intangible assets and other long- | |||
term assets | 1,680,211,233 | 1,962,515,161 | |
Cash paid for investment | 2,211,585,906 | 1,486,491,243 | |
Net cash paid for acquiring subsidiaries and | |||
other operating entities | 0 | 0 | |
Other cash paid for activities related to | |||
investment | 575,100 | 255,350,722 | |
Sub-total of cash outflows from investing | |||
activities | 3,892,372,239 | 3,704,357,126 | |
Net cash flow generated from investing | |||
activities | -2,529,323,767 | -2,725,856,463 | |
- 22 -
First quarter of | First quarter of | |
Item | 2021 | 2020 |
- Cash flow generated from financing activities:
Cash received from capital contributions | 14,889,434 | 2,000,000 | |||||
Including: Cash received by subsidiaries from | |||||||
minority shareholders' investment | 750,000 | 2,000,000 | |||||
Cash received from borrowings | 2,528,708,095 | 958,156,571 | |||||
Cash received from issuing bonds | 0 | 0 | |||||
Other cash received from activities related to | |||||||
financing activities | 182,511,514 | 97,957,883 | |||||
Sub-total of cash inflows from financing | |||||||
activities | 2,726,109,043 | 1,058,114,454 | |||||
Cash repayments of borrowings | 1,883,629,266 | 2,856,621,985 | |||||
Dividends paid, profit distributed or interest | |||||||
paid | 281,943,741 | 354,789,418 | |||||
Including: Dividends and profit paid | |||||||
by subsidiaries to minority | |||||||
shareholders | 0 | 9,798,431 | |||||
Other cash paid for activities related to | |||||||
financing activities | 126,167,554 | 107,795,595 | |||||
Sub-total of cash outflows from financing | |||||||
activities | 2,291,740,561 | 3,319,206,998 | |||||
Net cash flow generated from financing | |||||||
activities | 434,368,482 | -2,261,092,544 | |||||
IV. Effects of changes in exchange rate on cash | |||||||
and cash equivalents | -27,308,056 | 10,346,014 | |||||
V. Net increase in cash and cash equivalents | -7,373,322,700 | -11,449,844,570 | |||||
Add: Cash and cash equivalents at the | |||||||
beginning of the period | 26,291,285,566 | 30,564,910,372 | |||||
VI. Cash and cash equivalents at the end of the | |||||||
period | 18,917,962,866 | 19,115,065,802 | |||||
Person in charge of the | Principal accounting | Manager of the accounting | |||||
Company: | responsible person: | department: | |||||
ZENG Qinghong | WANG Dan | ZHENG Chao |
- 23 -
Cash Flow Statement of the Parent Company
From January to March 2021
Prepared by: Guangzhou Automobile Group Co., Ltd.
Unit: Yuan | Currency: RMB Type of audit: unaudited | |||
First quarter of | First quarter of | |||
Item | 2021 | 2020 | ||
I. Cash flow generated from operating | ||||
activities: | ||||
Cash received from sales of goods and | ||||
rendering labour services | 191,362,834 | 119,274,499 | ||
Tax rebates | 0 | 0 | ||
Other cash received from activities related to | ||||
operation | 110,483,749 | 74,768,479 | ||
Sub-total of cash inflows from operating | ||||
activities | 301,846,583 | 194,042,978 | ||
Cash paid for goods and labour services | 31,631,610 | 13,077,293 | ||
Cash paid to and on behalf of employees | 263,307,991 | 222,232,008 | ||
Tax payments | 646,173 | 3,466,027 | ||
Other cash payments related to operating | ||||
activities | 99,399,284 | 132,949,229 | ||
Sub-total of cash outflows from operating | ||||
activities | 394,985,058 | 371,724,557 | ||
Net cash flow from operating activities | -93,138,475 | -177,681,579 | ||
- 24 -
First quarter of | First quarter of | ||
Item | 2021 | 2020 | |
II. Cash flow generated from investing | |||
activities: | |||
Cash received from redemption of investments | 0 | 0 | |
Cash received from gains on investment | 25,265 | 231,439,965 | |
Net cash received from disposal of fixed | |||
assets, intangible assets and other long-term | |||
assets | 0 | 0 | |
Net cash received from disposal of subsidiaries | |||
and other operating entities | 0 | 0 | |
Other cash received from activities related to | |||
investing activities | 8,293,861 | 0 | |
Sub-total of cash inflows from investing | |||
activities | 8,319,126 | 231,439,965 | |
Cash paid for purchase and construction of | |||
fixed assets, intangible assets and other long- | |||
term assets | 1,007,240,249 | 1,048,027,508 | |
Cash paid for investment | 1,080,229,186 | 380,692,520 | |
Net cash paid for acquiring subsidiaries and | |||
other operating entities | 0 | 0 | |
Other cash paid for activities related to | |||
investing activities | 0 | 250,000,000 | |
Sub-total of cash outflows from investing | |||
activities | 2,087,469,435 | 1,678,720,028 | |
Net cash flow from investing activities | -2,079,150,309 | -1,447,280,063 | |
- 25 -
First quarter of | First quarter of | |
Item | 2021 | 2020 |
- Cash flow generated from financing activities:
Cash received from capital contributions | 14,139,434 | 0 | |||||
Cash received from borrowing | 0 | 1,000,000,000 | |||||
Other cash received from financing-related | |||||||
activities | 0 | 0 | |||||
Sub-total of cash inflows from financing | |||||||
activities | 14,139,434 | 1,000,000,000 | |||||
Cash repayments of borrowings | 0 | 2,000,000,000 | |||||
Dividends paid, profit distributed or interest | |||||||
paid | 191,133,412 | 292,709,405 | |||||
Other cash paid for financing-related activities | 348,292 | 150,619 | |||||
Sub-total of cash outflows from financing | |||||||
activities | 191,481,704 | 2,292,860,024 | |||||
Net cash flows generated from financing | |||||||
activities | -177,342,270 | -1,292,860,024 | |||||
IV. Effects of changes in exchange rate on cash | |||||||
and cash equivalents | 0 | 0 | |||||
V. Net increase in cash and cash equivalents | -2,349,631,054 | -2,917,821,666 | |||||
Add: Cash and cash equivalents at the | |||||||
beginning of the period | 11,477,791,020 | 9,734,366,397 | |||||
VI. Cash and cash equivalents at the end of the | |||||||
period | 9,128,159,966 | 6,816,544,731 | |||||
Person in charge of the | Principal accounting | Manager of the accounting | |||||
Company: | responsible person: | department: | |||||
ZENG Qinghong | WANG Dan | ZHENG Chao |
- 26 -
4.2 Information on adjustment on financial statements at the beginning of the year of first implementation in respect of the first implementation of new lease standards starting from 2021
Applicable 3 Not applicable
4.3 Details of retrospective adjustment on the comparative figures in the previous period in respect of the first implementation of new lease standards starting from 2021
Applicable 3 Not applicable
4.4 Audited report
Applicable 3 Not applicable
- 27 -
Attachments
- Original document
- Permalink
Disclaimer
Guangzhou Automobile Group Co. Ltd. published this content on 29 April 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 29 April 2021 09:44:05 UTC.