2019Half-year Report
2019-043
Chapter I Important Notes, Contents and Abbreviations
Important NoteThe Board of Directors and its members, the Supervisory Board and itsmembers, and the senior executives are jointly and severally liable for thetruthfulness, accuracy and completeness of the information disclosed in thereport and confirm that the information disclosed herein does not contain anyfalse statement, misrepresentation or major omission.
Chairman Qiu Tiangao, CFO Li Weihua and Chief of Finance Department, XieWanzhao, confirm that the Financial Statements in this Half-year Report aretruthful, accurate and complete.
Director David Johnston did not attend this meeting, and he authorized ViceChairman Anning Chen to represent him at this meeting, and all the otherDirectors were present at the Board meeting in person.
Neither cash dividend nor stock dividend was distributed. The Board decidednot to convert capital reserve to share capital this time.
All financial data in this report are prepared under International FinancialReporting Standards (‘IFRS’) unless otherwise specified.
The Half-year Report is prepared in Chinese and English. In case ofdiscrepancy, the Chinese version will prevail.
Contents
Chapter I Important Notes, Contents and Abbreviations …… 2
Chapter II Brief Introduction …… 4
Chapter V Major Events …… 13
Chapter VI Share Capital Changes & Shareholders …… 19
Chapter VII Preferred Shares …… 23
Chapter VIII Directors, Supervisors and Senior Management …… 24
Chapter IX Company Bond …… 25
Chapter X Financial Statements …… 26
Chapter XI Catalogue on Documents for Reference …… 91
Abbreviations:
JMC, or the Company Jiangling Motors Corporation, Ltd.JHC Jiangling Motor Holdings Co., Ltd.Ford Ford Motor CompanyCSRC China Securities Regulatory CommissionJMCG Jiangling Motors Company (Group) JMCH JMC Heavy Duty Vehicle Co., Ltd.EVP Executive Vice PresidentCFO Chief Financial OfficerVP Vice President
Chapter II Brief Introduction
1. Company’s information
2. Contact person and method
3. Other
I. Contact methodsChanges of registered address, headquarter address, postal code, websiteand e-mail
□Applicable √Not Applicable
There is no change of registered address, headquarter address, postal code,website and e-mail. Please refer to 2018 Annual Report for details.
II. Newspapers for information disclosure, website for publication of JMC’shalf-year report and place for achieving half-year report
□Applicable √Not Applicable
There is no change of newspapers for information disclosure, websitedesignated by CSRC for publication of JMC’s Half-year Report and place forachieving Half-year Report. Please refer to 2018 Annual Report for details.
4. Main accounting data and financial ratios
Unit: RMB ‘000
5. Accounting data difference between domestic and foreign accountingstandards
I. Differences in net profit and net assets disclosed respectively per IFRS andPRC GAAP.
□Applicable √Not Applicable
There is no difference between IFRS and PRC GAAP in net profit and netassets.
II. Differences in net profit and net assets disclosed respectively per GAAPand PRC GAAP.
□Applicable √Not Applicable
There is no difference between GAAP and PRC GAAP in net profit and netassets.
Chapter III Operating Overview
1. Company’s Core Business during the Reporting Period
JMC’s core business is production and sales of commercial vehicles, SUVand related components. JMC’s major products include JMC series light truck,heavy truck, pickup and light bus; Yusheng SUV; Ford-brand light bus, MPVand SUV. The Company also produces and sells engines, castings and othercomponents for sales to domestic and overseas markets.
2. Major Change of Main Assets
I. Major Change of Main Assets
There’s no major change of main assets during the reporting period.
II. Main Overseas Assets
□Applicable □√Not Applicable
3. Core Competitiveness Analysis
JMC is a sino-foreign joint venture auto company with R&D, manufacturingand sales operations. With leading position and advanced technology ofcommercial vehicles, JMC is China auto industry pioneer providing excellentproducts and solutions to smart logistics, which is certificated as a nationalhigh-tech enterprise, national innovative pilot enterprise, national enterprisetechnology centre, national industrial design centre, national intellectualproperty demonstration enterprises, advanced quality management enterpriseand national automobile export base; and had been ranked among the top100 most valuable global brands for consecutive years.
JMC insists on the guide of strategy, focuses on strengthening the strategyimplementation: during the reporting period, the company developed “2025Strategy” which identified the new vision of JMC, committed to become theindustry leader of light commercial vehicle and provider of Ford products withexcellent cost performance. Commercial vehicle is positioned on city/main linelogistics products and suppliers of comprehensive service scheme. Achievebreakthrough and great development on small/middle passenger vehiclesegment.
Centered on innovation and service, promoting structural renovation: JMCadheres to the road of scientific/technological and management innovation.During the reporting period, the company continued vigorous implementationof product innovation to drive development, integrate resources, strengthentechnological innovation, promote market-oriented product innovation; deepentransformation and adjustment, adhere to business model innovation; developsystematic cost reduction strategies, focus on promoting the transformation oforganization and efficiency, and comprehensively enhance the corecompetitiveness of products.
Focusing on advantageous business and create product leadership: JMCfocuses on the core business, concentrates intensive cultivation on eachsegment, insists on customer-centered, improve the market awareness of thewhole value chain, so as to actively makes the company' s products theleaders of each segment.
Collaborative integration of the industrial system, positive layout of “ASEC”:
aiming at the new trends in the development of the automotive industry, JMCpromotes the implementation of the "ASEC" development strategy of"autonomous driving, sharing, electrification, connectivity". The company hasdeveloped layout in the core areas such as new energy vehicles, smartconnectivity, and autonomous driving to accelerate the construction of afuture-oriented and globally competitive business ecosystem through theoverall collaboration and integration of “ASEC”.
Chapter IV Management Discussion and Analysis
1. Summary
In 2019, China' s economy has maintained a trend of overall stable andprogressive development. The main macroeconomic indicators reflected theoperation in a reasonable range, and the economic structure is constantlybeing optimized and adjusted. Total sales volume was 12.32 million units,decreased 12.40% compared with last year.
During the reporting period, to cope with more severe competition, morestringent regulatory requirement and intensifying cost pressures, theCompany focused on quality improvement, new product development,operating cost control and production efficiency enhancement. Simultaneously, the Company introduced series of sales policy to respond the market risk. Inthe first half of 2019, JMC achieved sales volume of 136,643 units, decreased
7.27% compared with last year, achieved revenue of RMB 13.72 billion,decreased 3.96% compared with last year, achieved net profit of RMB 59million, decreased 81.55% compared with last year. It mainly reflects: I. thevolume decrease of passenger vehicle in the interim period and the change ofoverall sales structure; II. Marketing expense increased to compete in the verychallenging market. III. Continued spending on new product and technology.
2. Core Business Analysis
Year-over-Year Changes of Main Financial Data
Unit: RMB ’000
Composition of Core Business
Unit: RMB ’000
3. Non- core business analysis
□√Applicable □Not Applicable
Unit: RMB ’000
4. Analysis of Assets and Liabilities
I. Major changes
Unit: RMB ’000
II. The fair value of the assets and liabilities (not applicable).
III. Restriction on Assets Rights as of the End of the Reporting PeriodThere was no major restriction on assets rights as of the end of the reportingperiod.
5. Investment
I. Summary
□Applicable □√Not Applicable
II. Obtained Major Equity Investment during the Reporting Period
□Applicable □√Not Applicable
III. Ongoing Major Non-Equity Investment during the Reporting Period
□√Applicable □Not Applicable
IV. Financial Assets Investment(a) Stock Investment
□Applicable □√Not Applicable
(b) Derivative Investment
□Applicable □√Not Applicable
6. Sales of Major Assets and Equity
I. Sale of Major Assets
□Applicable □√Not Applicable
II. Sales of Major Equity
□Applicable □√Not Applicable
7. Operating Results of Main Subsidiaries and Joint-Stock Companies whoseimpact on JMC’s net profit more than 10%
Unit: RMB ’000
Acquisition and disposal of the subsidiary
□Applicable □√Not Applicable
8. Structured Entities Controlled by JMC
□Applicable □√Not Applicable
9．Business performance prediction in 1-9, 2019
□ Applicable √ Not Applicable
10. Potential Challenges and Solutions
In 2019, the Company will continue to face fiercer competition, more stringentregulatory requirements, intensifying cost pressures and a slowdown inChina’s economic growth. To achieve steady growth, the Company willcontinue to focus on the following aspects in 2019:
(1) Insight customer demand and improve channel capability to realize thecustomer-centered business growth;
(2) Accelerating product platformization, redefine product portfolio, enrich line
up and net connectivity configuration to better satisfy customer demand;
(3) Optimizing company’s production system to improve efficiency andproduct quality ;
(4) Improve suppliers’ capability and parts quality; continue to reduce partspurchasing cost ;
(5) Sustaining the expense management and control to optimize the businessstructure;
(6) Establish highly capable and efficient organization through the current
process optimization team to flexibly respond to the market change;
(7) Strengthening corporate governance and application of appropriate risk
assessment and control mechanisms.
The Company will focus on light commercial vehicle with the support of SUV, maximize its own advantage and fully take advantage of shareholdersresource to realize sustainable profit. Strengthen channel coverage, improvefinancing service ability; promote new products development and R&D abilityimprovement, to accelerate the progress of launching new competitiveproducts to the market; develop more proactive cost reduction plan to improvethe company’s profit ability. Guided by the new strategy, the company willcontinuously implement all the specific initiatives to accelerate the strategictarget achievement.
Chapter V Major Events
1. Annual and special shareholders’ meeting
I. Shareholders’ meeting during the reporting period
II. Share holders who hold vote right restored preferred shares apply to hold aspecial shareholders’ meeting
□Applicable √Not Applicable
2. Proposal on profit distribution and converting capital reserve to sharecapital for the reporting period
□Applicable √Not Applicable
The Company planned that neither cash dividend nor stock dividend wasdistributed, and not to convert capital reserve to share capital for the first halfof 2019.
3. Commitments of actual controlling parties, shareholders, related parties,acquirers and the Company finished in the reporting period or overdueunfinished by the end of the reporting period
□Applicable √Not Applicable
There is no commitments of actual controlling parties, shareholders, relatedparties, acquirers and the Company finished in the reporting period oroverdue unfinished by the end of the reporting period.
4. Appointment or dismissal of accounting firm
Whether the 2019 half-year report is audited?
□Yes √No
JMC 2019 half-year report is not audited.
5. Explanation of the board of directors, the supervisory board to abnormalopinions from accounting firm for the reporting period
□Applicable √Not Applicable
6. Explanation of the board of directors to abnormal opinions from accountingfirm in 2018
□Applicable √Not Applicable
7. Related matters regarding bankruptcy
□Applicable √Not Applicable
The Company did not go bankrupt during the reporting period.
8. Litigation or arbitration
Significant litigation or arbitration
□Applicable √Not Applicable
There is no significant litigation or arbitration in the reporting period.
Other litigation
□Applicable √Not Applicable
9. Punishment
□Applicable √Not Applicable
The Company have not been punished by regulatory authorities.
10. Honesty and credit of JMC and its controlling shareholder or actualcontrolling party
□Applicable √Not Applicable
11. Implementation of equity incentive plan, employee stock ownership planand other employee incentive method
□Applicable √Not Applicable
12. Major related transactions
I. Routine operation related party transactionsPlease refer to the note 31 “Related party Transactions” to the financialstatements for details.
II. Major related party transaction concerning transfer of assets or equity
□Applicable √Not Applicable
There was no major related party transaction concerning transfer of assets orequity during the reporting period.
III. Related party transaction concerning outside co-investment
□Applicable √Not Applicable
There was no outside co-investment during the reporting period.
IV. Related credit and debt
√Applicable □Not Applicable
Is there non-operating related credit and debt?
□Yes √No
The Company had no non-operating related credit and debt during thereporting period.
V. Other major related party transactions
□Applicable √Not Applicable
Please refer to the note 31 “Related party Transactions” to the financialstatements for details.
Index for the Announcement of Major related party transactions:
13. Non-operating funding in the Company occupied by controllingshareholder and its affiliates
□Applicable √Not Applicable
There was no non-operating funding in the Company occupied by controllingshareholder and its affiliates during the reporting period.
14. Major contracts and execution
I. Entrustment, contract or leasea. Entrustment
□Applicable √Not Applicable
There was no entrustment during the reporting period.
b. Contract
□Applicable √Not Applicable
There was no contract during the reporting period.
c. Lease
√Applicable □Not Applicable
See the note 31(b) to financial statements for lease of related parties.
Project earns more than 10% of net profit.
□Applicable √Not Applicable
Project deficits more than 10% of net profit.
□Applicable √Not Applicable
II Major guarantee
□Applicable √Not Applicable
The Company had no outside guarantee during the reporting period.
III. Other important contracts
□Applicable √Not Applicable
There was no other important contract during the reporting period.
15. Corporation social responsibilities
I. Environmental protectionWhether the Company and affiliates is the key pollution discharge unitpublished by environmental protection administration?
√Yes □No
The construction and operation of environmental protection facilitiesSince 2006, JMC has invested more than RMB 30 million to construct sevenwastewater treatment stations (including the wastewater treatment station inthe east plant area and Xiaolan wastewater treatment station), with thetreatment capacity as high as 9,000t/d. The treated wastewater reached thenational discharge standard. In 2019, the Company invested RMB 870thousand to upgrade the wastewater treatment process of the wastewatertreatment station in Axle Plant, and enhance the treatment capacity to ensure
the treated wastewater will reach the national discharge standard..For up-to-standard emission of waste gases, JMC has taken new controlmeasures over the years. In 2012, the Company invested RMB 10 million toreconstruct the cupola furnace in the casting plant. In 2013, Xiaolan Branchinvested RMB 14 million to install a TNV waste gas incinerator. In 2014, JMCinvested RMB 14.6 million to construct the boiler coal-gas-switch project in thesouth district. In 2017, the casting plant reconstructed the ventilation & dustremoval system for the smelting furnace in the large-size and middle & small-sized parts workshop, and installed efficient environmental-friendly dustremoval equipment, effectively reducing the environmental pollution by dust.From 2018 to 2019, the casting plant add electric furnace dust collectors inthe large-size part workshop, and reconstruct the sand shakeout & dustremoval system for KW moulding line, reducing the environmental pollution.
For noise reduction, JMC took different measures to reduce the environmentalimpact, such as increase of protective sound-proof doors & windows, establishment of noise enclosure for air blower, installation of muffler andtransformation of sound-proof doors & windows. All these measures canmake sure up-to-standard discharge of noise at the plant boundary.
In the process of waste management, JMC managed from the source, anddivided the generation of wastes. JMC established a temporary storage yardfor solid wastes. Warning graphic symbols have been posted at the tempora rystorage site of hazardous wastes. Besides, signboards have been provided aswell, so as to remind the passer-by of probable hazards in the storage
process of hazardous wastes. In 2017, JMC invested RMB500 thousand toextend Xiaolan storage yard for solid wastes. In 2018 JMC has renovated theengine plant garbage station. In 2019, the Company plans to invest RMB600thousand to extend Xiaolan Dangerous Waste Station. At the same time, Qingyunpu plant actively adopt waste reduction measures and invested RMB110 thousand to purchase primer robot waste solvent recycling device in 2019.
EIA on construction project and other administrative permits forenvironmental protectionThe Company strictly implements the construction project enviro nmentalimpact assessment system. With respect to new construction, expansion andreconstruction, JMC comprehensively planned environmental protection andevaluated the “Three Simultaneities”. From the source of design, JMC carriedout the philosophy of energy saving and low carbon all the time. TheCompany carries on the environmental monitoring every year according to therequirements, ensures the pollutant discharge meeting the requirements ofdischarge permit, formulates the stricter internal control target, and strives toreduce the impact of environmental pollution to the minimum. In 2019, theCompany obtained the environmental assessment approval of the vehicleproduction expansion project, the new collision simulation laboratory projectand the project of expanding the capacity of 300 thousand vehicle parts andcomponents per year (Phase II).
Emergency plan on emergency environmental incidentsIn order to dilute or prevent environmental risks, JMC established anemergency preparation and response procedure and specific environmentalemergency plans which were submitted to the Environmental Pro tectionBureau for the record, so as to formulate corresponding control methods forpotential accidents and emergences occurred or that may probably occur.JMC organized emergency dril ls every year to ensure the efficiency ofemergency plan.
Environmental self-monitoring schemeIn 2019, JMC’s Qingyunpu Main Plant Area (the “Plant Area”) was listed as akey pollutant discharging organization of wastewater/ hazardous wastes. ThePlant Area monitored by itself in strict accordance with the Method for Self-monitoring and Information Disclosure of State Key Mo nitoring Enterprises(Trial). Its self-monitoring schemes, monitoring results and annual monitoringreports on pollution sources were disclosed on the “pollution source self-monitoring reporting platform of Jiangxi Province”.
Other information related to environmental protectionJMC paid high attention to environmental protection and pollution sourcecontrol, taking resource saving and cost reduction as the primary task.Moreover, the Company also took full advantage of 6sigma, and controlledfrom the source, so as to achieve the effect of environmental improvement. Inthe new expansion and reconstruction projects, JMC laid emphasis onimproving the environmental performance, strictly implemented the system of“Three Simultaneities”, transacted the EIA procedure according to nationalstandards, stipulated the preventive and control measures for environmentalpollution, and reported to competent administrative departments onenvironmental protection for approval.
II. One-to-one poverty alleviationa. Plan on one-to-one poverty alleviationThe Company joined the one-to-one poverty alleviation, depending on JMCG, in Qianmo Village, Dai Jiapu Township, Suichuang County, Jiangxi Provinceand Xianting Village, Songhu Town, Xinjian District, Nanchang City inaccordance with the working arrangement of Jiangxi Provincial PartyCommittee and Provincial Government. The overall goal is: to help th e poorvillage to achieve a well-off standard of living before 2020 by cooperating withthe local government.
b. Summary of one-to-one poverty alleviation in the first halfThe Company regards the realization of precision poverty relief as the basicstrategy of p recision poverty alleviation. The Company continued toconsolidate efforts of one-to-one poverty alleviation in the first half of 2019.
c. Status of targeted measures in poverty alleviation
16. Other major events
√Applicable □Not Applicable
JMC received government incentives about RMB 260 million appropriated byNanchang County Xiaolan Economic& Technological Development Zone, Nanchang City Wanli District and Shanxi Comprehensive ReformDemonstration Zone during the reporting period, which is to support JMC’sdevelopment.
17. Major event of JMC subsidiary
□Applicable √Not Applicable
Chapter VI Share Capital Changes & Shareholders
1. Changes of Shareholding Structure
I. Changes of shareholding structure
Causes of shareholding changes
√Applicable □Not Applicable
During the past three years as of June 30, 2019, the Company did not issueshares and derivative securities. JMC’s total number of shares remainedunchanged. The change in shareholding structure was ca used by the limitedA shares of 36,000 shares held by Shenzhen Airport Terminal Building Co.,Ltd. were transferred to nature person shareholders in 2019.
Approval of changes of shareholding structure
□Applicable √Not Applicable
Shares transfer
□Applicable √Not Applicable
Impact on accounting data, such as the latest EPS, diluted EPS, shareholders’equity attributable to the equity holders of the Company, generated fromshares changes
□Applicable √Not Applicable
Others to be disclosed necessarily or per the requirements of securitiesregulator
□Applicable √Not Applicable
II. Changes of limited tradable shares
□Applicable √Not Applicable
2. Securities issuance and listing
□Applicable √Not Applicable
3. Shareholders and shareholding status
Stock buy-back by top ten shareholders or top ten shareholders holdingunlimited tradable shares in the reporting period
□Yes √No
There is no stock buy-back by top ten shareholders or top ten shareholdersholding unlimited tradable shares in the reporting period.
4. Change of controlling shareholders or actual controlling partiesChange of controlling shareholders
□Applicable √Not Applicable
There was no change of controlling shareholders during the reporting period.
Change of actual controlling parties
□Applicable √Not Applicable
There was no change of actual controlling parties during the reporting period.
Subsequent eventsJiangling Motor Holdings Co., Ltd. (hereinafter referred to as “JHC”), acontrolling shareholder of Jiangling Motors Co., Ltd. (hereinafter referred to as“JMC” or “the Company”), has been divided and separated into the newcompany, Nanchang Jiangling Investment Co., Ltd. (hereinafter referred to as“JIC”) and Jiangling Motor Holdings Co., Ltd. (as an existing company). Afterthe separation, JHC intends to divide its hold 41.03% equity of JMC into thenew company, JIC, and therefore, the controlling shareholder of JMC will bechanged from JHC to JIC, but actual controllers of JMC remains unchanged.
As of July 26, 2019, the 354,176,000 JMC shares, accounting for about 41.03%of the total share capital of the Company, held by JHC, the former controllingshareholder of the Company, have been transferred to JIC, and JHC nolonger held the shares of the Company. JIC holds 354, 176.000 shares of theCompany, accounting for about 41.03% of the total share capital of theCompany, and becomes a controlling shareholder of the Company.
Shareholding relationship with JMC and the shareholders of JHC before andafter the separation are shown as follows:
（1）Before the separation
JHC
41.03%
41.03%
JMC
（2）After the separation
Nanchang Jiangling Investment Co., Ltd.
41.03%
41.03%
JMC
Chapter VII Preferred Shares
□Applicable √Not Applicable
JMC have no preferred shares during the reporting period.
Chapter VIII Directors, Supervisors and Senior Management
1. Changes of shares held by directors, supervisors and senior management
□Applicable √Not Applicable
There was no change of shares held by Directors, Supervisors and seniormanagement in the reporting period. Please refer to 2018 annual report fordetails.
2. Changes of directors, supervisors and senior management
√Applicable □Not Applicable
Chapter IX Company BondWhether the Company owns the corporate bond that is lists in the securitiesexchange and undue or is not paid in full although it’s due.
□Yes √No
Chapter X Financial Statements
JIANGLING MOTORS CORPORATION, LTD.
FINANCIAL STATEMENTS FOR THE SIX MONTHS ENDED 30JUNE 2019
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOMEFOR THE SIX MONTHS ENDED 30 JUNE 2019(All amounts in thousands of RMB unless otherwise stated)
#Unaudited financial indexesThe notes on pages 32 to 90 are an integral part of these consolidated financial statements.
CONSOLIDATED STATEMENT OF FINANCIAL POSITIONFOR THE SIX MONTHS ENDED 30 JUNE 2019(All amounts in thousands of RMB unless otherwise stated)
CONSOLIDATED STATEMENT OF FINANCIAL POSITION (continued)FOR THE SIX MONTHS ENDED 30 JUNE 2019(All amounts in thousands of RMB unless otherwise stated)
CONSOLIDATED STATEMENT OF CHANGES IN EQUITYFOR THE SIX MONTHS ENDED 30 JUNE 2019(All amounts in thousands of RMB unless otherwise stated)
#Unaudited financial indexesThe notes on pages 32 to 90 are an integral part of these consolidated financial statements.
CONSOLIDATED STATEMENT OF CASH FLOWSFOR THE SIX MONTHS ENDED 30 JUNE 2019(All amounts in thousands of RMB unless otherwise stated)
#Unaudited financial indexesThe notes on pages 32 to 90 are an integral part of these consolidated financial statements.
FOR THE SIX MONTHS ENDED 30 JUNE 2019NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS(All amounts in thousands of RMB unless otherwise stated)
1 General information
2 Summary of significant accounting policies
FOR THE SIX MONTHS ENDED 30 JUNE 2019NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
(All amounts in thousands of RMB unless otherwise stated)
FOR THE SIX MONTHS ENDED 30 JUNE 2019NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
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FOR THE SIX MONTHS ENDED 30 JUNE 2019NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS(All amounts in thousands of RMB unless otherwise stated)
FOR THE SIX MONTHS ENDED 30 JUNE 2019NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
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FOR THE SIX MONTHS ENDED 30 JUNE 2019NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
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FOR THE SIX MONTHS ENDED 30 JUNE 2019NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS(All amounts in thousands of RMB unless otherwise stated)
FOR THE SIX MONTHS ENDED 30 JUNE 2019NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS(All amounts in thousands of RMB unless otherwise stated)
FOR THE SIX MONTHS ENDED 30 JUNE 2019NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS(All amounts in thousands of RMB unless otherwise stated)
FOR THE SIX MONTHS ENDED 30 JUNE 2019NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS(All amounts in thousands of RMB unless otherwise stated)
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FOR THE SIX MONTHS ENDED 30 JUNE 2019NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
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FOR THE SIX MONTHS ENDED 30 JUNE 2019NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS(All amounts in thousands of RMB unless otherwise stated)
FOR THE SIX MONTHS ENDED 30 JUNE 2019NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS(All amounts in thousands of RMB unless otherwise stated)
FOR THE SIX MONTHS ENDED 30 JUNE 2019NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
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FOR THE SIX MONTHS ENDED 30 JUNE 2019NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
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FOR THE SIX MONTHS ENDED 30 JUNE 2019NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS(All amounts in thousands of RMB unless otherwise stated)
FOR THE SIX MONTHS ENDED 30 JUNE 2019NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS(All amounts in thousands of RMB unless otherwise stated)
FOR THE SIX MONTHS ENDED 30 JUNE 2019NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS(All amounts in thousands of RMB unless otherwise stated)
FOR THE SIX MONTHS ENDED 30 JUNE 2019NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
(All amounts in thousands of RMB unless otherwise stated)
FOR THE SIX MONTHS ENDED 30 JUNE 2019NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS(All amounts in thousands of RMB unless otherwise stated)
FOR THE SIX MONTHS ENDED 30 JUNE 2019NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
(All amounts in thousands of RMB unless otherwise stated)
FOR THE SIX MONTHS ENDED 30 JUNE 2019NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS(All amounts in thousands of RMB unless otherwise stated)
banks have a strong capacity to meet its contractual cash flow obligations in the near term.
FOR THE SIX MONTHS ENDED 30 JUNE 2019NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
(All amounts in thousands of RMB unless otherwise stated)
FOR THE SIX MONTHS ENDED 30 JUNE 2019NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS(All amounts in thousands of RMB unless otherwise stated)
FOR THE SIX MONTHS ENDED 30 JUNE 2019NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
(All amounts in thousands of RMB unless otherwise stated)
FOR THE SIX MONTHS ENDED 30 JUNE 2019NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS(All amounts in thousands of RMB unless otherwise stated)
FOR THE SIX MONTHS ENDED 30 JUNE 2019NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS(All amounts in thousands of RMB unless otherwise stated)
FOR THE SIX MONTHS ENDED 30 JUNE 2019NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
(All amounts in thousands of RMB unless otherwise stated)
FOR THE SIX MONTHS ENDED 30 JUNE 2019NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS(All amounts in thousands of RMB unless otherwise stated)
FOR THE SIX MONTHS ENDED 30 JUNE 2019NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS(All amounts in thousands of RMB unless otherwise stated)
FOR THE SIX MONTHS ENDED 30 JUNE 2019NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS(All amounts in thousands of RMB unless otherwise stated)
FOR THE SIX MONTHS ENDED 30 JUNE 2019NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS(All amounts in thousands of RMB unless otherwise stated)
FOR THE SIX MONTHS ENDED 30 JUNE 2019NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS(All amounts in thousands of RMB unless otherwise stated)
FOR THE SIX MONTHS ENDED 30 JUNE 2019NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS(All amounts in thousands of RMB unless otherwise stated)
FOR THE SIX MONTHS ENDED 30 JUNE 2019NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
(All amounts in thousands of RMB unless otherwise stated)
FOR THE SIX MONTHS ENDED 30 JUNE 2019NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS(All amounts in thousands of RMB unless otherwise stated)
FOR THE SIX MONTHS ENDED 30 JUNE 2019NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS(All amounts in thousands of RMB unless otherwise stated)
FOR THE SIX MONTHS ENDED 30 JUNE 2019NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS(All amounts in thousands of RMB unless otherwise stated)
FOR THE SIX MONTHS ENDED 30 JUNE 2019NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS(All amounts in thousands of RMB unless otherwise stated)
FOR THE SIX MONTHS ENDED 30 JUNE 2019NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS(All amounts in thousands of RMB unless otherwise stated)
FOR THE SIX MONTHS ENDED 30 JUNE 2019NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS(All amounts in thousands of RMB unless otherwise stated)
FOR THE SIX MONTHS ENDED 30 JUNE 2019NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS(All amounts in thousands of RMB unless otherwise stated)
FOR THE SIX MONTHS ENDED 30 JUNE 2019NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
(All amounts in thousands of RMB unless otherwise stated)
FOR THE SIX MONTHS ENDED 30 JUNE 2019NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS(All amounts in thousands of RMB unless otherwise stated)
FOR THE SIX MONTHS ENDED 30 JUNE 2019NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS(All amounts in thousands of RMB unless otherwise stated)
FOR THE SIX MONTHS ENDED 30 JUNE 2019NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS(All amounts in thousands of RMB unless otherwise stated)
FOR THE SIX MONTHS ENDED 30 JUNE 2019NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS(All amounts in thousands of RMB unless otherwise stated)
FOR THE SIX MONTHS ENDED 30 JUNE 2019NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS(All amounts in thousands of RMB unless otherwise stated)
FOR THE SIX MONTHS ENDED 30 JUNE 2019NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS(All amounts in thousands of RMB unless otherwise stated)
FOR THE SIX MONTHS ENDED 30 JUNE 2019NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
(All amounts in thousands of RMB unless otherwise stated)
FOR THE SIX MONTHS ENDED 30 JUNE 2019NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS(All amounts in thousands of RMB unless otherwise stated)
FOR THE SIX MONTHS ENDED 30 JUNE 2019NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS(All amounts in thousands of RMB unless otherwise stated)
Chapter XI Catalogue on Documents for Reference
1. Originals of 2019 Half-year financial statements signed by Chairman, Chief
Financial Officer and Chief of Finance Department.
2. Originals of all the documents and public announcements disclosed in
newspapers designated by CSRC in the first half of 2019.
4. The Half-year Report in the China GAAP.
Board of DirectorsJiangling Motors Corporation, Ltd.August 29, 2019