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1、Shares name:,Jiangling Motors,Shares code:,000550,No.:,2011-033,Jiangling B,200550,Jiangling Motors Corporation, Ltd. 2011 Third Quarter Report,1,Important Note,1.1 The Board of Directors and its members, the Supervisory Board and its members, and the senior executives are jointly and severally liab
2、le for the truthfulness, accuracy and completeness of the information disclosed in the report and confirm that the information disclosed herein does not contain false statements, misrepresentations or major omissions. 1.2 The Directors, Supervisors, and Senior Management undertake and have no object
3、ion to the truthfulness, accuracy and completeness of the contents of the Third Quarter Report. 1.3 All the Directors were present at the Board meeting. 1.4 The financial statements in this Quarterly Report are not audited. 1.5 Chairman Wang Xigao, President Yuan-Ching Chen, CFO Michael Joseph Briel
4、maier and Chief of Finance Department, Ding Ni, confirm that the financial statements in this Quarterly Report are truthful and complete. 1.6 All financial data in this Quarterly Report are prepared under International Financial Reporting Standards (IFRS) unless otherwise specified. 1,0,-,-,-,-,2,Br
5、ief Introduction,2.1 Main accounting data and financial indicators Unit: RMB000,At the end of reporting period,At the end of the previous year,Change (%),Total Assets,11,126,710,11,237,715,-0.99,Shareholders equity,Attributable to the Equity,6,920,246,6,127,276,12.94,Holders of the Company,Share Cap
6、ital Net Assets Per Share,863,214,863,214,Attributable to the Equity Holders of the Company,8.02,7.10,12.94,(RMB),Reporting period (2011 third quarter),Change (%),Beginning of year to end of reporting period,Change (%),Revenue,4,087,971,3.08,13,309,511,14.33,Profit Attributable to the,Equity Holders
7、 of the,399,891,-2.50,1,474,909,1.74,Company,Net Cash Generated From Operating Activities Net Cash Flow Per Share from Operating Activities (RMB),432,995 0.50,-77.83 -77.83,Basic Earnings Per Share (RMB) Diluted Earnings Per Share (RMB) Weighted Average Return on Net Asset Ratio (%),0.46 0.46 6.38,-
8、2.50 -2.50 Down 1.24 percentage points,1.71 1.71 21.97,1.74 1.74 Down 4.51 percentage points,2,2.2 Total number of shareholders and top ten shareholders holding unlimited tradable shares as at the end of reporting period Total shareholders at the JMC had 25,727 shareholders, including 19,409 A-share
9、,end of reporting period,holders and 6,318 B-share holders, as of September 30, 2011.,Top ten shareholders holding unlimited tradable shares,Name Jiangling Motor Holding Co., Ltd. （”JMH”） Ford Motor Company Shanghai Automotive Co., Ltd. National Social Security Fund- Portfolio 102 Huaan Tactical Sel
10、ect Securities Investment Fund Bosera Thematic Sector Equity Securities Investment Fund Dragon Billion China Master Fund Rongtong New Blue-chip Securities Investment Fund Jpmblsa Re Ftif Templeton China Fund Gti 5497 National Social Security Fund- Portfolio 103,Shares as of September 30, 2011 354,17
11、6,000 258,964,200 13,019,610 10,030,098 9,912,299 9,500,000 8,969,196 5,415,930 4,827,483 4,099,149,Share Type A share B share A share A share A share A share B share A share B share A share,3,Major Events,3.1 Causes and explanations of major changes of financial indicators compared with those of pr
12、evious reporting period Applicable Not Applicable In the first nine months of 2011, the Company achieved a sales volume of 149,352 units, including 53,666 JMC-brand trucks, 51,913 JMC-brand pickups and SUVs, and 43,773 Ford-brand commercial vehicles. Total sales volume was up 12% from the same perio
13、d last year. Under IFRS, revenue and net profit for the first nine months of 2011 were RMB 13,310 million and RMB 1,475 million, up 14% and 2% respectively from the same period last year. In the third quarter of 2011, net profit was RMB 400 million, down 2.5% from the same period last year. Gross pr
14、ofit margin was 24.8%, down approximately 0.7 percentage points from the same period last year, primarily reflecting pricing actions for selected products and raw material cost increase. Trade and other receivables at the end of the reporting period increased by RMB 676 million, up 82% from the end
15、of 2010, primarily reflecting increased credit support to dealers. Current income tax liabilities at the end of the reporting period decreased by RMB 35 million, down 37% from the end of 2010, primarily reflecting tax payment recalendarization. Borrowings in current liabilities at the end of the rep
16、orting period decreased by 3,RMB 25 million, down 98% from the end of 2010, primarily reflecting repayment of bank loan. Sales tax in the third quarter increased by RMB 55 million, up 79% compared with the same period last year, primarily reflecting higher consumption tax generated from volume growt
17、h and a new levy of construction and education taxes. Financial income in the third quarter increased by RMB 17 million, up 79% compared with the same period last year, primarily reflecting increase of interest income on bank deposits and improved cash management. 2011 year-to-date net cash generate
18、d from operating activities was RMB 433 million, RMB 1,520 million lower than 2010, down 78% compared with the same period last year, primarily reflecting working capital changes. 2011 year-to-date net cash used in investing activities was RMB 490 million, RMB 270 million higher than 2010, up 123% c
19、ompared with the same period last year, primarily reflecting investments related to the new Xiaolan assembly plant. 2011 year-to-date net cash used in financing activities was RMB 734 million, RMB 290 million higher than 2010, up 65% compared with the same period last year, primarily reflecting an i
20、ncreased cash dividend payment. 3.2 Analysis of major events, their impacts and resolutions 3.2.1 Abnormal audit report,Applicable,Not Applicable,3.2.2 Funds provided for the controlling shareholder and its related parties, or outside guarantee in breach of the laws and regulations,Applicable,Not Ap
21、plicable,3.2.3 Signature and implementation of major contract regarding routine operation activities,Applicable 3.2.4 Others Applicable,Not Applicable Not Applicable,4,3.3 Implementation of commitments made by the Company, shareholders or actual controlling parties,Item,Promisor,Commitments Content,
22、Implementation of commitments,In the reporting period, JMH,Share reform,JMH,* exercised its commitments sincerely and did not breach the promise.,Acquisition report or Statement of changes in equity Major asset restructuring Initial Public Offering Other commitments (including additional commitments
23、),None None None None,None None None None,N/A N/A N/A N/A,*JMH, which holds 41.03% of JMC total shares, issued letters of commitment, and declared and promised the following: (1) according to the requirements of Rules on Implementing the Full Tradable Share Reform of the Listed Companies, legal comm
24、itments will be fulfilled in accordance with provisions of the stock exchange rules, regulations and laws; (2) the promisor ensures that it will compensate losses resulting from partial or complete non-fulfillment of its promises to other shareholders; and (3) the promisor will fulfill its commitmen
25、ts faithfully and accept relevant legal responsibility, and it will not transfer its shares unless the transferee agrees and accepts liability to undertake the responsibility of the promise. JMH promises specifically to pay the consideration on behalf of the unlisted-share holders who opposed the Sh
26、are Reform or did not express their opinions. The above-mentioned unlisted-share holders should repay the consideration paid by JMH and the interest, or obtain written consent from JMH, if they want to list their shares. 3.4 Warning and explanations as to the situation that accumulated net profit du
27、ring the period from year beginning to the end of next reporting period may be negative or, compared with the same period last year, may have a substantial change Applicable Not Applicable 3.5 Explanations on other major events 3.5.1 Securities investments,Applicable,Not Applicable,5,3.5.2 External
28、research and media interviews with the Company in the reporting period,Date,Place,Communication,Object,Information discussed,Method,and sources offered,July 7, 2011,In the Company,Oral Communication,Three analysts from Shanghai Heqi Investment,JMC Operating highlights,Company, Value Star Asset Manag
29、ement Co., Ltd.,July 13, 2011,In the Company,Oral Communication,Five analysts from First Shanghai Securities Co.,JMC Operating highlights,Ltd., Shenzhen Pingshi Investment Company, Beijing Hongdao Investment Company, TF Securities Co., Ltd.,July 20, 2011,In the Company,Oral Communication,An analyst
30、from Shanghai Wisdom Investment,JMC Operating highlights,Management Co., Ltd.,September 2, 2011,In the Company,Oral Communication,Two analysts from Everbright Securities,JMC Operating highlights,Company Limited, Huatai-PineBridge Fund Management Co., Ltd.,September 27, 2011,In the Company,Oral Commu
31、nication,Eight analysts from China International Capital,JMC Operating highlights,Corporation Limited, Orient Securities Company Limited, New Tongfang Investment Company, Fortune SG Fund Management Co., Ltd., Baoying Fund Management Co., Ltd., HuaAn Fund Management Co., Ltd., 3.6 Securities derivate
32、s investment,Applicable,Not Applicable,3.6.1 Balance of securities derivates at the end of reporting period,Applicable,Not Applicable,Board of Directors Jiangling Motors Corporation, Ltd. October 27, 2011 6,-,Appendix Jiangling Motors Corporation, Ltd. Consolidated Balance Sheet (Prepared under Inte
33、rnational Financial Reporting Standards),(All amounts in RMB thousands) ASSETS Non-current assets Property, plant and equipment Lease prepayment Intangible assets Investments in associates Deferred income tax assets Current assets Inventories Trade and other receivables Cash and cash equivalents Tot
34、al assets EQUITY Capital and reserves attributable to the Companys equity holders Share capital Share premium Other reserves Retained earnings Non-controlling interests Total equity LIABILITIES Non-current liabilities Borrowings Retirement benefit obligations Warranty provisions Current liabilities
35、Trade financial liabilities Trade and other payables Current income tax liabilities Borrowings Retirement benefits obligations Total liabilities Total equity and liabilities,30 September 2011* 2,927,474 272,978 22,144 15,776 152,775 3,391,147 1,212,702 1,500,877 5,021,984 7,735,563 11,126,710 863,21
36、4 816,609 457,650 4,782,773 6,920,246 116,479 7,036,725 6,450 43,982 140,628 191,060 1,692 3,823,634 61,095 416 12,088 3,898,925 4,089,985 11,126,710,31 December 2010 2,630,524 277,870 31,302 17,928 205063 3,162,687 1,436,492 825,374 5,813,162 8,075,028 11,237,715 863,214 816,609 457,650 3,989,803 6
37、,127,276 115,319 6,242,595 6,939 54,569 171,789 233,297 4,628,421 96,310 25,004 12,088 4,761,823 4,995,120 11,237,715,*: Unaudited financial indexes 7,Jiangling Motors Corporation, Ltd. Consolidated Income Statement (Prepared under International Financial Reporting Standards),(All amounts in RMB tho
38、usands) Revenue Sales tax Cost of sales Gross profit Distribution costs Administrative expenses Other income/(expenses) Operating profit Finance income Finance costs Finance income -net Share of profit of associates Profit before income tax Income tax expense Profit for the period,2011.7.1- 2011.9.3
39、0* 4,087,971 (125,137) (3,074,365) 888,469 (270,320) (188,552) 1,954 431,551 38,978 (1,276) 37,702 1,728 470,981 (64,928) 406,053,2010.7.1- 2010.9.30* 3,965,946 (70,022) (2,954,385) 941,539 (280,321) (196,941) (2,438) 461,839 22,126 (1,051) 21,075 1,480 484,394 (68,314) 416,080,2011.1.1- 2011.9.30*
40、13,309,511 (387,856) (10,066,862) 2,854,793 (672,713) (549,745) 2,633 1,634,968 119,411 (1,846) 117,565 4,957 1,757,490 (253,037) 1,504,453,2010.1.1- 2010.9.30* 11,641,763 (201,421) (8,629,733) 2,810,609 (661,557) (488,309) (6,317) 1,654,426 64,489 (1,896) 62,593 5,077 1,722,096 (251,196) 1,470,900,
41、Profit attributable to:,Equity holders of the Company Non-controlling interests Other comprehensive income,399,891 6,162 406,053 -,410,127 5,953 416,080 -,1,474,909 29,544 1,504,453 -,1,449,639 21,261 1,470,900 -,Total comprehensive income for,the period,406,053,416,080,1,504,453,1,470,900,Total com
42、prehensive income attributable to:,Equity holders of the Company Non-controlling interests,399,891 6,162 406,053,410,127 5,953 416,080,1,474,909 29,544 1,504,453,1,449,639 21,261 1,470,900,Earnings per share for profit attributable to the equity holders of the Company (expressed in RMB per share),-
43、Basic and diluted,0.46,0.48,1.71,1.68,*: Unaudited financial indexes 8,-,-,-,-,-,-,Jiangling Motors Corporation, Ltd. Consolidated cash flow statement (Prepared under International Financial Reporting Standards) (All amounts in RMB thousands),Cash flows from operating activities,2011.7.1-2011.9.30*,
44、2011.1.1-2011.9.30*,Cash generated from operations Interest paid Income Tax paid Net cash generated from operating activities Cash flows from investing activities Purchase of held-to-maturity investments Purchase of property, plant and equipment(“PPE”) Proceeds from disposal of PPE Interest received
45、 Proceed from repayment of held-to-maturity investment Dividends received Net cash used in investing activities Cash flows from financing activities Repayments of borrowings Dividends paid to the Companys shareholders Other cash paid relating to financing activities Net cash used in financing activi
46、ties Net increase/(decrease) in cash and cash equivalents,346,423 (62,805) 283,618 (217,893) 53 60,135 7,109 (150,596) (707,962) (1,196) (709,158) (576,136),669,182 (422) (235,765) 432,995 (314,968) (617,155) 1,292 118,557 315,326 7,109 (489,839) (24,668) (708,238) (1,427) (734,333) (791,177),Cash and cash equivalents at beginning of period Cash and cash equivalents at 30 June 2011,5,598,121,5,813,162,Effects of exchange rate changes Cash and cash equivalents at end of period,(1) 5,021,984,(1) 5,021,984,*: Unaudited financial indexes 9,