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1、 Chongqing Changan Automobile Company Limited 2020 Annual Report April, 2021Chongqing Changan Automobile Company Limited 2020 Annual Report 1 Chapter 1 Important Notice, Contents, and Definitions The Board of Directors, the Board of Supervisors, Directors, Supervisors and Senior Executives of our co
2、mpany hereby guarantee that no false or misleading statement or major omission was made to the materials in this report and that they will assume all the responsibilities, individually and jointly, for the trueness, accuracy and completeness of the contents of this report. The Chairman of the Board
3、Zhu Huarong, the Chief Financial Officer Zhang Deyong and the responsible person of the accounting institution (Accountant in charge) Chen Jianfeng hereby declare that the Financial Statements enclosed in this annual report are true, accurate and complete. Except the following directors, all the dir
4、ectors attended the board meeting for reviewing the annual report. The name of the directors absent Positions Reasons for the absence Name of the consignee Tan Xiaogang Director Business trip Zhou Zhiping Liu Jipeng Independent director Business trip Pang Yong Tan Xiaosheng Independent director Busi
5、ness trip Li Qingwen The prospective description regarding future business plan and development strategy in this report does not constitute virtual commitment. The investors shall pay attention to the risk. The preplan profit distribution of the Company deliberated and approved by the Board is: Base
6、d on the total share capital of 5,439,591,574 shares, a cash dividend of RMB 3.06 (tax included) will be distributed to all shareholders for every 10 shares, and 4 shares will be converted from the capital reserve for every 10 shares. Chongqing Changan Automobile Company Limited 2020 Annual Report 2
7、 CONTENTS Chapter 1 Important Notice, Contents, and Definitions . 1 Chapter 2 Company Profile & Main Financial Indexes . 4 Chapter 3 Analysis of Main Business . 9 Chapter 4 Business Discussion and Analysis . 13 Chapter 5 Important Matters . 40 Chapter 6 Changes in the shareholding of the company and
8、 shareholders . 55 Chapter 7 Information about Directors, Supervisors, Senior Management and Employees . 63 Chapter 8 Corporate Governance . 78 Chapter 9 Corporate Bonds . 84 Chapter 10 Auditors Report . 85 Chapter 11 Documents for Future Reference . 255 Chongqing Changan Automobile Company Limited
9、2020 Annual Report 3 Definitions Items Definitions Changan Auto., the Company Refers to Chongqing Changan Automobile Company Limited South Industries Refers to China South Industries Group Co., Ltd., the Companys actual controller China Changan Refers to China Changan Automobile Group Co., Ltd., old
10、 name: China South Industries automobile Co., Ltd., a subsidiary company of South Industries Changan Industry Refers to Chongqing Changan Industry (Group) Co., Ltd., old name: Changan Automobile (Group) Co., Ltd., a subsidiary company of South Industries Nanjing Changan Refers to Nanjing Changan Aut
11、omobile Co., Ltd., a subsidiary company of the Company Hebei Changan Refers to Hebei Changan Automobile Co., Ltd., a subsidiary company of the Company Hefei Changan Refers to Hefei Changan Automobile Co., Ltd., a subsidiary company of the Company Changan Bus Refers to Baoding Changan Bus Co., Ltd.,
12、a subsidiary company of the Company International Company Refers to Chongqing Changan Automobile International Sale Service Co., Ltd., a subsidiary company of the Company Changan Ford Refers to Changan Ford Automobile Co., Ltd., a JV of the Company Changan Mazda Refers to Changan Mazda Automobile Co
13、., Ltd., a JV of the Company CME Refers to Changan Mazda Engine Co., Ltd., a JV of the Company Jiangling Holding Refers to Jiangling Holding Co., Ltd., an associate of the Company Changan Finance Refers to Changan Automobile Finacing Co., Ltd., an associate of the Company South Industries Finance Re
14、fers to China South Industries Group Finance Co., Ltd., a subsidiary company of South Industries UPI Refers to United Prosperity (Hong Kong)Investment Co., Ltd., a subsidiary company of China Changan Hafei Group Refers to Harbin Hafei Automobile Industry Group Co., Ltd., a subsidiary company of Chin
15、a Changan CMAL Refers to Chongqing Changan Minsheng APLL Logistics Co., Ltd., an associate of China Changan Chongqing Changan Automobile Company Limited 2020 Annual Report 4 Chapter 2 Company Profile & Main Financial Indexes I. Basic Information Stock abbreviation Changan Automobile 、Changan B Stock
16、 Code 000625、200625 Listed on Shenzhen Stock Exchange Company in Chinese name 重庆长安汽车股份有限公司 Company abbreviation in Chinese name 长安汽车 Company name in English Chongqing Changan Automobile Company Limited Legal representative Zhu Huarong Registered address No. 260, East Jianxin Road Jiangbei District,
17、Chongqing Post code of the registered address 400023 Office address No. 260, East Jianxin Road, Jiangbei District, Chongqing Post code of the office address 400023 Website http:/ E-mail address . Contact Information Secretary of the Board of Directors Securities affairs representative Name Li Jun Co
18、ntact address No. 260, East Jianxin Road, Jiangbei District, Chongqing TEL: 023-67594008 FAX: 023-67866055 E-mail address . Information Disclosure and Filing Site Newspaper selected by the Company for China Securities Journal, Securities Times, Securities Daily, Shanghai Chongqing Changan Automobile
19、 Company Limited 2020 Annual Report 5 information disclosure Securities News, Hong Kong Commercial Daily Website selected by CSRC for publishing this annual report The place where this annual report is prepared and kept Secretarys Office of Board of Directors IV. Changes of Registration Information
20、Organization Code 9150000020286320X6 Changes in the main business since the companys listing Not applicable All previous changes of dominant stockholders In Dec. 2005, according to the restructuring program on automobile business, the Companys actual controller, China South Industries Group Corporat
21、ion made transferring of all state-owned shares of the Company as part of funding for China South Industries Automobile Company Limited. In March 2006, all shares held by Changan Group have been transferred to China South Industries Automobile Company Limited. China South Industries Automobile Compa
22、ny Limited became the majority shareholder of the Company, and Changan Group holds zero share since then. In July 2009, with the approval of State Administration for Industry and Commerce, “China South Industries Automobile Company Limited”, changed its name to “China Changan Automobile Group Co., L
23、td.”. With the change of its name, no change occurred in its property, ownership and control relation of the Company. V. Other Relevant Information The accounting firm employed by the Company: Name of the accounting firm Ernst & Young Hua Ming LLP (Special Ordinary Partner) Address of the accounting
24、 firm Level 16, Ernst & Young Tower, Oriental Plaza, No. 1 East Chang An Avenue, Dong Cheng District, Beijing, China Name of the certified public accountant for signature Qiao Chun, Hu Yan The recommendation agency engaged by the Company executing the persistent supervision responsibilities in the r
25、eporting period Applicable Not applicable Sponsor name Sponsors office address Name of sponsor representative Continuous supervision period CITIC Securities Co., Ltd. 21st Floor, CITIC Securities Building, No. 48 Liangmaqiao Road, Chaoyang District, Beijing He Yang, Chen Shumian October 26, 2020-Dec
26、ember 31, 2021 The financial consultant engaged by the Company performing the duties of persistent supervision and guidance in the reporting period Chongqing Changan Automobile Company Limited 2020 Annual Report 6 Applicable Not applicable VI. Summary of Accounting Data and Financial Indexes Does th
27、e company conduct the retrospective adjustment or restatement of previous years accounting data due to changes in accounting policies or accounting errors? Yes No 2020 2019 Increase/decrease on a y-o-y basis (%) 2018 Operating revenue (Yuan) 84,565,544,146.58 70,595,245,133.28 19.79% 66,298,270,389.
28、77 Net profit belonging to shareholders of the listed company (Yuan) 3,324,251,164.16 -2,646,719,356.53 225.60% 680,728,392.03 Net profit belonging to shareholders of the listed company after deduction of non-recurring profit and loss (Yuan) -3,249,984,527.77 -4,762,446,597.61 31.76% -3,165,070,272.
29、21 Net cash flow arising from operating activities (Yuan) 10,675,953,479.24 3,881,748,238.39 175.03% -3,887,475,302.44 Basic earnings per share (Yuan/Share) 0.68 -0.55 223.64% 0.14 Diluted earnings per share (Yuan/Share) Not applicable Not applicable Not applicable Not applicable Return on equity (R
30、OE) (%) 7.13% -5.86% Up 12.99 Points 1.45% End of 2020 End of 2019 Increase/decrease of the end of current year compared with that of the previous year (%) End of 2018 Total assets (Yuan) 120,915,805,349.52 97,617,053,590.38 23.87% 93,488,854,098.95 Net assets belonging to shareholders of the listed
31、 company (Yuan) 53,410,193,236.09 44,028,312,743.66 21.31% 46,244,958,676.52 The lower of the companys net profit before and after deduction of non-recurring gains and losses in the most recent three fiscal years is negative, and the audit report of the most recent year shows that the companys abili
32、ty to continue operations is uncertain Yes No The lower of the net profit before and after non-recurring gains and losses is negative Yes No Item 2020 2019 Notes Chongqing Changan Automobile Company Limited 2020 Annual Report 7 Operating revenue (Yuan) 84,565,544,146.58 70,595,245,133.28 Companys op
33、erating income (before deduction) Operating revenue deduction amount (yuan) 113,349,438.04 55,177,961.32 Business income not related to the main business Amount after deduction of operating revenue (yuan) 84,452,194,708.54 70,540,067,171.96 Companys operating income (after deduction) VII. The differ
34、ences between domestic and international accounting standards (1).Simultaneously pursuant to both Chinese accounting standards and international accounting standards disclosed in the financial reports of differences in net income and net assets. Applicable Not applicable No difference. (2). Differen
35、ces of net profit and net assets disclosed in financial reports prepared under overseas and Chinese accounting standards. Applicable Not applicable No difference. (3). Explanation of reasons for differences in accounting data under domestic and foreign accounting standards Applicable Not applicable
36、VIII. Key financial indicators for the quarter Unit: Yuan First Quarter Second Quarter Third Quarter Forth Quarter Business income 11,564,077,463.34 21,217,580,015.76 23,059,924,854.44 28,723,961,813.04 Net profit attributable to shareholders of listing Corporation 631,077,888.63 1,971,088,514.05 88
37、3,806,569.75 -161,721,808.27 Net profit attributable to shareholders of the listing Corporation after deducting non-recurring gains and losses -1,793,324,817.62 -823,563,483.85 519,048,534.49 -1,152,144,760.79 Net cash flows from operating activities 4,155,344,266.52 2,757,242,427.08 106,853,186.71
38、3,656,513,598.93 Whether or not the above mentioned financial indicators and the total number of the company has disclosed the major difference between quarterly reports and semi-annual report Yes No IX. Non-recurring items and amounts Applicable Not applicable Unit: Yuan Item 2020 2019 2018 Non-rec
39、urring items and amounts(including accrued reversal assets impairment part) 29,465,046.07 56,658,864.17 8,561,074.73 Chongqing Changan Automobile Company Limited 2020 Annual Report 8 Government subsidies included in the profit and loss of the current period (Except closely related to business operat
40、ions, in accordance with the national unified standard quota or quantitative enjoyment of government subsidies) 797,901,407.24 1,537,625,620.93 2,873,192,102.56 The investment cost of the enterprise to obtain subsidiaries and joint ventures which is less than the fair value of the identifiable net a
41、ssets of the investee when the investment is obtained - - 1,020,821,274.01 In addition to the effective hedging business related to the companys normal business operations, the fair value of gains and losses from changes in fair value 2,035,390,665.86 889,154,888.69 - Gains and losses on entrusted l
42、oans 13,768,160.42 6,771,226.43 - Losses arising from business combinations not under common control -6,937,641.07 - - Investment income from disposal of long-term equity investments 1,398,196,002.13 - - Gains from the remeasurement of the remaining equity at fair value after the loss of control 2,2
43、46,681,836.54 Except the above other operating income and expenses -27,519,486.75 -135,258,766.14 48,285,737.46 Interest on deferred payment of funds received by non financial enterprises 17,795,918.37 28,553,488.65 29,303,167.73 Reduction: the impact of income tax -91,514,483.25 250,459,302.04 82,0
44、07,701.31 Impact of minority shareholders equity (after tax) 22,020,700.13 17,318,779.61 52,356,990.94 Total 6,574,235,691.93 2,115,727,241.08 3,845,798,664.24 According to “Public offering of securities information disclosure of the companys information disclosure announcement No. 1 non-recurring g
45、ains and losses “Public offering of securities information disclosure of the companys information disclosure announcement No. 1 non-recurring gains and losses” defined non-recurring items ,and Public offering of securities information disclosure of the companys information disclosure announcement No
46、. 1 - non-recurring gains and losses “The items listed in the non-recurring items defined as recurring items shall be explained . Applicable Not applicable The company in the reporting period does not base on the definition and listing of “Public offering of securities information disclosure of the
47、companys information disclosure announcement No. 1 non-recurring gains and losses” about non-recurring gains and losses to define a case of recurring profit or loss. Chongqing Changan Automobile Company Limited 2020 Annual Report 9 Chapter 3 Analysis of Main Business IThe main business of the Compan
48、y in the reporting period Does the Company need to comply with the disclosure requirements of special industry Yes No During the reporting period, the companys main business is the R&D, manufacturing and sale of cars, the R&D and production of automobile engine products. Besides, the company integra
49、tes advantageous resources to actively develop travel services, new retail and carry out multi-dimensional industrial layout. Changan automobile always adheres to the mission of leading the car civilization for the benefit of human life, and the concept of energy conservation, environmental protecti
50、on, scientific and technological intelligence, vigorously develops new energy and smart cars, guides the automobile civilization by the use of scientific and technological innovation, and provides customers with high quality products and services. After years of development, the company owns many fa