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资讯 Stock code: 000570, 200570 Stock name: Changchai A, Changchai B Announcement Number：2026-030
CHANGCHAI COMPANY, LIMITED 2026 Third Quarter Report
The company and all members of the board of directors guarantee that the information disclosed is true, accurate, and complete, without false records, misleading statements, or significant omissions.
Important Notes:
1.The Board of Directors (or the “Board”) as well as the directors and senior management of Changchai Company, Limited (hereinafter referred to as the “Company”) hereby guarantee the truthfulness, accuracy and completeness of the contents of this Quarterly Report and its summary, and warrant that there are no false records, misleading statements or material omissions therein, and shall be subject to individual and joint and several legal liabilities.
2.The Company’s legal representative and General Manager, head of the Company’s financial department (equivalent to financial manager) hereby guarantee that the Financial Statements carried in this Quarter Report are factual, accurate and complete.
3.Has the third quarter report been audited
☐ Yes ✓ No
I. Key Financial Information
1. Major Accounting Data and Financial Indicators
Whether the company needs to retrospectively adjust or restate prior years' accounting data
☐ Yes ✓ No
| Amount for the current reporting period | Increase or decrease in this reporting period compared to the same period last year | Year to date | Change for the year to date compared with the same period of the prior year | |
| Operating revenue (RMB) | 461,392,338.46 | -7.94% | 2,131,179,011.94 | 3.34% |
| Net profit attributable to the listed company’s shareholders (RMB) | 16,342,168.48 | —— | 121,401,822.46 | 172.88% |
| Net profit attributable to the listed company’s shareholders before exceptional gains and losses (RMB) | -39,974,504.62 | —— | 45,273,422.85 | 191.09% |
| Net cash generated from/used in operating activities (RMB) | — | — | -375,236,899.43 | —— |
| Basic earnings per share (RMB/share) | 0.0232 | —— | 0.1720 | 173.02% |
| Diluted earnings per share (RMB/share) | 0.0232 | —— | 0.1720 | 173.02% |
| Weighted average return on equity (%) | 0.46% | 1.33% | 3.46% | 2.15% |
| 30 September 2026 | 31 December 2025 | Change of 30 September 2026 over 31 December 2025 (%) | ||
| Total assets (RMB) | 5,706,132,143.40 | 5,578,281,300.02 | 2.29% | |
| Equity attributable to the listed company’s shareholders (RMB) | 3,576,049,023.80 | 3,443,190,677.55 | 3.86% | |
2. Exceptional Gains and Losses
✓ Applicable □ Not applicable
Unit: RMB
| Item | Amount for the current reporting period | Year to date | Note |
| Gain or loss on disposal of non-current assets (inclusive of impairment allowance write-offs) | 62,504,342.29 | 62,782,750.52 | This is attributable to the gain on disposal of assets recognised by the Company in the current reporting period in respect of the expropriation ofthe Sanjing land. |
| Government subsidies included in current profit and loss (excluding those closely related to the company's normal business operations, in compliance with national policies and regulations, enjoyed according to established standards, and having a continuous impact on the company's profit and loss) | 4,006,700.00 | 4,042,700.00 | This is attributable to the government grant recognised by the Company in the current reporting period in respect of the expropriation of the Sanjing land. |
| Except for effective hedging business related to the normal operation of the same company, non-financial enterprises shall bear gains and losses from changes in fair value of financial assets and liabilities held by them, as well as gains and losses from the disposal of financial assets and liabilities | -11,802.59 | 21,177,126.20 | This is mainly attributable to the fluctuations in the fair value of part of the stocks held by Changzhou Horizon Investment Co., Ltd., the wholly-owned subsidiary of the Company, during the current reporting period. |
| Profit and loss from entrusting others to invest or manage assets | 0.00 | 176,622.04 | |
| Reversal of allowance for impairment of receivables individually assessed for impairment | 0.00 | 91,000.00 | |
| Other non-operating income and expenses other than the above items | -33,430.01 | -18,991.30 | |
| Less: Income tax effects | 10,095,443.00 | 12,006,218.89 | |
| Non-controlling interests effects (net of tax) | 53,693.59 | 116,588.96 | |
| Total | 56,316,673.10 | 76,128,399.61 | -- |
Particulars about other items that meet the definition of exceptional gain/loss: □ Applicable √ Not applicable
No such cases for the Reporting Period.
Explanation of why the Company reclassifies as recurrent an exceptional gain/loss item listed in the Explanatory Announcement No. 1 on Information Disclosure for Companies Offering Their Securities to the Public—Exceptional Gain/Loss Items:
□ Applicable ✓ Not applicable
No such cases for the Reporting Period.
3. The situation and reasons for changes in major accounting data and financial indicators
✓Applicable ☐ Not Applicable
(1) Consolidated balance sheet items
| Items | Ending balance (RMB) | Beginning balance (RMB) | Year-over-Year Increase/Decrease | Reason for change |
| Monetary assets | 878,032,571.25 | 1,338,231,792.64 | -34.39% | This is mainly attributable to the cash dividend distribution implemented by the Company and the net cash outflow from operating activities during the reporting period. |
| Notes receivable | 208,371,235.18 | 386,557,535.74 | -46.10% | This is mainly attributable to the reduction in unmatured bank acceptance bills with low credit ratings held, endorsed and transferred, and discounted by the Company's during the reporting period. |
| Accounts Receivable | 1,312,716,421.18 | 451,748,532.34 | 190.59% | This is mainly attributable to the fact that most of the Company's multi-cylinder engine customers are main engine supporting entities with relatively long credit periods. During the reporting period, the Company stepped up market expansion and adopted moderate credit sales, resulting in a substantial increase in accounts receivable. |
| Prepayments | 5,904,318.16 | 22,389,102.11 | -73.63% | This is mainly attributable to the fact that, in accordance with the production and operation plan and procurement schedule for the current period, the Company has successively completed settlement and warehousing of prepayments for raw materials, equipment and services made in prior periods, together with the optimization of payment timing. |
| Other receivables | 44,250,485.17 | 5,495,898.75 | 705.15% | This is mainly attributable to the receivables arising from the expropriation of Sanjing land. |
| Other Current Assets | 9,911,619.38 | 19,020,727.98 | -47.89% | This is mainly attributable to the decrease in the VAT excess input tax credit during the reporting period. |
| Construction in progress | 4,690,967.44 | 2,801,650.98 | 67.44% | This is mainly attributable to the increase in the Company's investment in technical transformation projects. |
| Deferred income tax assets | 10,129,247.96 | 7,350,047.87 | 37.81% | This is mainly attributable to the increase in accounts receivable during the reporting period, which led to a corresponding increase in deferred tax assets arising from the provision for impairment of accounts receivable. |
| Short-term Borrowings | 7,521,472.93 | 88,926,344.09 | -91.54% | This is mainly attributable to the maturity of bank acceptance bills with low credit ratings discounted by the Company during the reporting period. |
| Notes payable | 771,291,789.04 | 562,313,345.98 | 37.16% | This is mainly attributable to the fact that the Company made more payments for goods by issuing bank acceptance bills. |
| Advances from customers | 0.00 | 30,112,510.00 | -100.00% | This is mainly attributable to the recognition of gain on disposal of assets in the current reporting period for the Sanjing land compensation received in advance in the prior period. |
| Employee Benefits Payable | 14,379,039.33 | 56,773,482.39 | -74.67% | This is mainly attributable to the payment of part of wages and bonuses accrued in the prior period during the reporting period. |
| Other current liabilities | 167,185,906.20 | 72,672,756.98 | 130.05% | This is mainly attributable to the increase in unmatured and transferred bank acceptance bills with low credit ratings of the Company during the reporting period. |
(2) Consolidated income statement items
| Items | Reporting Period (RMB) | Same period of last year (RMB) | Year-over-Year Increase/Decrease | Reason for change |
| Finance Costs | 8,823,610.78 | -6,963,710.11 | —— | This is attributable to the year-on-year decrease in exchange gains and interest income during the reporting period. |
| Investment Income | 32,837,672.66 | 8,990,865.29 | 265.23% | This is attributable to the sale of part of the stocks held by the Company’s wholly-owned subsidiary, Changzhou Horizon Investment Co., Ltd., and dividends received from Bank of Jiangsu during the reporting period. |
| Gain on Changes in Fair Value | 1,848,452.90 | 24,996,914.55 | -92.61% | This is attributable to the decline in fair value of stocks held by the Company’s wholly-owned subsidiary, Changzhou Horizon Investment Co., Ltd., during the reporting period. |
| Asset impairment loss | -1,543,116.71 | -1,007,978.86 | —— | This is mainly attributable to the year-on-year increase in impairment provisions recognised for inventories and other assets during the reporting period. |
| Asset disposal income | 62,782,750.52 | 6,534,963.52 | 860.72% | This is mainly attributable to the recognition of gain on disposalof assets arising from the expropriation of Sanjing land during the reporting period. |
| Non-operating income | 18,454.17 | 318,597.79 | -94.21% | This is mainly attributable to a year-on-year decrease in penalty income during the reporting period. |
| Non-operating expense | 37,445.47 | 254,767.59 | -85.30% | This is mainly attributable to the external donations made in the prior period. |
| Net amount after tax of other comprehensive income attributable to the parent company | 121,401,822.46 | 44,488,834.29 | 172.88% | This is mainly attributable to the continuous expansion of domestic and overseas markets during the reporting period, optimized sales mix and year-on-year increase in sales revenue which drove higher profits; investment gains from the sale of part of the Company's shares held by the wholly-owned subsidiary, Changzhou Horizon Investment Co., Ltd.; and gain on disposal of assets recognized in connection with the Sanjing land expropriation. |
| Total comprehensive income attributable to the owners of the parent company | 146,045,022.46 | 76,915,484.29 | 89.88% | Same as above. |
| Total comprehensive income | 153,282,895.66 | 82,933,103.87 | 84.83% | Same as above. |
(3) Consolidated cash flow statement items
| Items | Reporting Period (RMB) | Same period of last year (RMB) | Year-over-Year Increase/Decrease | Reason for change |
| Net cash flow from operating activities | -375,236,899.43 | -214,915,731.64 | —— | This is mainly attributable to the fact that most of the Company's multi-cylinder engine customers are main engine supporting suppliers with relatively long credit periods. The Company has intensified market development and adopted moderate credit sales, resulting in relatively low capital recovery. |
| Net cash flow generated from investing activities | -97,844,346.02 | 26,957,326.97 | —— | This is attributable to the year-on-year increase in wealth management products invested by the Company during the reporting period. |
| Net cash flow generated from financing activities | -15,525,235.15 | -7,056,925.07 | — | This is mainly attributable to the increase in the amount of cash dividends distributed by the Company during the reporting period. |
II.Shareholder Information
1.Table of Ordinary Shareholders and Shareholders with Restored Voting Rights of Preferred Shares, and Shareholding Details of the Top 10 Shareholders
Unit: share
| Number of ordinary shareholders | 45,140 | Number of preferred shareholders with resumed voting rights | 0 | |||
| Shareholding situation of the top 10 shareholders (excluding shares lent through refinancing) | ||||||
| Name of shareholder | Nature of shareholder | Shareholding percentage | Total shares held at the period-end | Number of shares with limited selling conditions held | Status of Pledge, Judicial Marking and Freeze | |
| Status | Shares | |||||
| Changzhou Investment Group Co., Ltd. | State-owned legal person | 32.26% | 227,663,417 | 0 | N/A | 0 |
| Industrial and Commercial Bank of China Limited – Huashang Lexiang Hulian Flexible Allocation Mixed Securities Investment Fund | Others | 0.54% | 3,810,600 | |||
| KGI ASIA LIMITED | Overseas legal entity | 0.44% | 3,100,195 | |||
| Zhao Jun | Domestic natural person | 0.43% | 3,044,400 | |||
| Bank of China Limited-Huashang Vision Value Hybrid Securities Investment Fund | Others | 0.41% | 2,895,200 | |||
| Lin Jing | Domestic natural person | 0.40% | 2,856,000 | |||
| China Minsheng Bank Co., Ltd. – Jinyuan Shunan Yuanqi Flexible Allocation Mixed Securities Investment Fund | Others | 0.33% | 2,340,900 | |||
| Chen Jian | Domestic natural person | 0.31% | 2,180,800 | |||
| J. P. Morgan Securities PLC-Equity capital | Overseas legal entity | 0.27% | 1,911,434 | |||
| Li Suinan | Domestic natural person | 0.23% | 1,600,000 | |||
| Top 10 unrestricted shareholders (Excluding shares lent through refinancing and executive lock up shares) | ||||||
| Name of shareholder | Unrestricted shares held at the period-end | Shares by type | ||||
| Type | Shares | |||||
| Changzhou Investment Group Co., Ltd. | 227,663,417 | RMB-denominatedordinary share | 227,663,417 | |||
| Industrial and Commercial Bank of China Limited – Huashang Lexiang Hulian Flexible Allocation Mixed Securities Investment Fund | 3,810,600 | RMB-denominated ordinary share | 3,810,600 | |||
| KGI ASIA LIMITED | 3,100,195 | Domestically listed foreign share | 3,100,195 | |||
| Zhao Jun | 3,044,400 | Domestically listed foreign share | 3,044,400 | |||
| Bank of China Limited-Huashang Vision Value Hybrid Securities Investment Fund | 2,895,200 | RMB-denominated ordinary share | 2,895,200 | |||
| Lin Jing | 2,856,000 | RMB-denominated ordinary share | 2,856,000 | |||
| China Minsheng Bank Co., Ltd. – Jinyuan Shunan Yuanqi Flexible Allocation Mixed Securities Investment Fund | 2,340,900 | RMB-denominated ordinary share | 2,340,900 | |||
| Chen Jian | 2,180,800 | RMB-denominated ordinary share | 2,180,800 | |||
| J. P. Morgan Securities PLC-Equity capital | 1,911,434 | RMB-denominated ordinary share | 1,911,434 | |||
| Li Suinan | 1,600,000 | Domestically listed foreign share | 1,600,000 | |||
| Explanation of the shareholder relationship or concerted action mentioned above | It is unknown whether there is among the top 10 public shareholders and the top 10 unrestricted public shareholders any related parties or acting-in-concert parties as defined in the Administrative Measures for Information Regarding Shareholding Alteration. | |||||
| Explanation on the participation of the top 10 shareholders in margin trading and securities lending business | Shareholders Lin Jing and Chen Jian hold 2,856,000 and 2,180,800 shares of the Company through margin trading securities accounts, respectively. | |||||
Information regarding the lending of shares through securities refinancing by shareholders holding 5% or more of shares, the top 10 shareholders, and the top 10 unrestricted tradable shareholders
☐ Applicable ✓ Not Applicable
The changes in the top 10 shareholders and the top 10 unrestricted tradable shareholders compared to the previous reporting period are due to the lending/return of securities under securities refinancing
☐ Applicable ✓ Not Applicable
2. Table of Total Number of Preferred Shareholders and Shareholding Status of the Top 10 Preferred Shareholders in the Company
☐ Applicable ✓ Not Applicable
III. Other important matters
✓ Applicable □ Not applicable
1. Progress of building acquisition and compensation on state-owned land of the Sanjing branch
On November 29, 2023, the Company entered into the Non-residential Building Acquisition and Compensation Agreement of Xinbei District, Changzhou with the Housing and Urban-Rural Development Bureau of Changzhou National High-Tech Industrial Development Zone (hereinafter referred to as the “Xinbei District Housing and Urban-Rural Development Bureau”) and the Xinbei District Sanjing Sub-district Building Acquisition and Compensation Service Center of Changzhou City (hereinafter referred to as the “Sanjing Subdistrict”). To improve the efficiency of the acquisition work, the Company, the Xinbei District Housing and Urban-Rural Development Bureau and the Sanjing Sub-district reached an agreement on land consolidation, upgrading and subsequent compensation payment for the Sanjing Branch based on professional reports issued by qualified institutions, and planned to sign a supplemental agreement. This matter was reviewed and approved at the First Extraordinary General Meeting of Shareholders on July 21, 2026. In August 2026, the Company signed the Supplemental Agreement for the acquisition of the Sanjing Branch with the Xinbei District Housing and Urban-Rural Development Bureau and the Sanjing Sub-district.
2. Progress of Yuanzhi Changtou Xingyu (Changzhou) Equity Investment Partnership (Limited Partnership)
In August 2026, Changzhou Xinhui Private Equity Fund Management Co., Ltd. and Changzhou Xingyu Industrial Investment Co., Ltd., the original general partners of Yuanzhi Changtou Xingyu (Changzhou) Equity Investment Partnership (Limited Partnership), which was jointly established by Horizon Investment, the whollyowned subsidiary of the Company, completed withdrawal from the partnership. Changzhou Xingyu Xinhui Venture Capital Co., Ltd. (a joint venture established by the aforesaid original general partners) was admitted as the new general partner and executing partner of Yuanzhi Changtou Xingyu to assume the relevant functions of the two former general partners. Accordingly, Yuanzhi Changtou Xingyu adopted a dual-GP fund operation structure. Meanwhile, the partnership amended the clauses on investment scope under the partnership agreement. On the basis of the original investment scope covering the new energy vehicle and new energy upstream and downstream industrial chains, it added the upstream and downstream supporting industrial chain of the new-generation information technology as an eligible investment area, so as to expand project sources and investment boundaries. In August 2026, Yuanzhi Changtou Xingyu completed the industrial and commercial change registration and private investment fund filing procedures.
3. Expropriation and compensation for the company's foundry building
On March 6, 2025, the company received the "Decision on the Expropriation of Houses on State-owned Land by the People's Government of Xinbei District, Changzhou City" (Changxin Zheng [2025] No. 1) issued by the People's Government of Xinbei District, Changzhou City. Due to the public interest in the reconstruction of the old urban area, the People's Government of Xinbei District, Changzhou City, decided to expropriate the houses within the scope of the old urban area reconstruction project (Phase I) of the company's foundry and surrounding plots in Sanjing Street. On May 8, 2025, the company held the second extraordinary meeting of the board of directors and the second extraordinary meeting of the board of supervisors in 2025, and deliberated and approved the "Proposal on Signing the Foundry's 'Changzhou Xinbei District Non-Residential House Expropriation Compensation Agreement'". This matter was deliberated and approved by the first extraordinary shareholders' meeting on May 26, 2025, agreeing to the company signing compensation agreements with the Xinbei District Housing and Urban-Rural Development Bureau and Sanjing Street. The total compensation amount agreed upon in the agreement is 346.8569 million yuan, and the expropriation compensation agreement is yet to be signed.
IV. Quarterly financial statements
1. Financial statements
(1) Consolidated Balance Sheet
Prepared by Changchai Company, Limited
30 September 2026 Unit: RMB
| Item | 30 September 2026 | 1 January 2026 |
| Current assets: | ||
| Monetary assets | 878,032,571.25 | 1,338,231,792.64 |
| Settlement reserve | ||
| Interbank loans granted | ||
| Held-for-trading financial assets | 480,898,937.09 | 372,184,689.98 |
| Derivative financial assets | ||
| Notes receivable | 208,371,235.18 | 386,557,535.74 |
| Accounts receivable | 1,312,716,421.18 | 451,748,532.34 |
| Accounts receivable financing | 121,402,794.17 | 165,125,708.93 |
| Prepayments | 5,904,318.16 | 22,389,102.11 |
| Premiums receivable | ||
| Reinsurance receivables | ||
| Receivable reinsurance contract reserve | ||
| Other receivables | 44,250,485.17 | 5,495,898.75 |
| Including: Interest receivable | ||
| Dividends receivable | 128,000.00 | 0.00 |
| Financial assets purchased under resale agreements | ||
| Inventories | 590,900,989.09 | 757,083,436.15 |
| Including: Data resources | ||
| Contract assets | ||
| Assets held for sale | ||
| Non-current assets maturing within one year | ||
| Other current assets | 9,911,619.38 | 19,020,727.98 |
| Total current assets | 3,652,389,370.67 | 3,517,837,424.62 |
| Non-current assets: | ||
| Loans and advances to customers | ||
| Investments in debt obligations | ||
| Investments in other debt obligations | ||
| Long-term receivables | ||
| Long-term equity investments | ||
| Investments in other equity instruments | 1,010,353,295.81 | 981,361,295.81 |
| Other non-current financial assets | 352,013,441.08 | 337,118,757.03 |
| Investment property | 34,071,595.82 | 35,644,130.99 |
| Fixed assets | 502,923,563.04 | 550,316,120.80 |
| Construction in progress | 4,690,967.44 | 2,801,650.98 |
| Productive living assets | ||
| Oil and gas assets | ||
| Right-of-use assets | ||
| Intangible assets | 128,911,747.33 | 133,751,352.61 |
| Including: Data resources | ||
| Development costs | ||
| Including: Data resources | ||
| Goodwill | ||
| Long-term prepaid expense | 2,383,477.01 | 2,597,472.39 |
| Deferred income tax assets | 10,129,247.96 | 7,350,047.87 |
| Other non-current assets | 8,265,437.24 | 9,503,046.92 |
| Total non-current assets | 2,053,742,772.73 | 2,060,443,875.40 |
| Total assets | 5,706,132,143.40 | 5,578,281,300.02 |
| Current liabilities: | ||
| Short-term borrowings | 7,521,472.93 | 88,926,344.09 |
| Borrowings from the central bank | ||
| Interbank loans obtained | ||
| Held-for-trading financial liabilities | ||
| Derivative financial liabilities | ||
| Notes payable | 771,291,789.04 | 562,313,345.98 |
| Accounts payable | 665,270,350.39 | 793,473,800.05 |
| Advances from customers | 0.00 | 30,112,510.00 |
| Contract liabilities | 37,163,461.94 | 40,040,496.36 |
| Financial assets sold under repurchase agreements | ||
| Customer deposits and interbank deposits | ||
| Payables for acting trading of securities | ||
| Payables for underwriting of securities | ||
| Employee benefits payable | 14,379,039.33 | 56,773,482.39 |
| Taxes payable | 5,551,619.99 | 5,305,526.88 |
| Other payables | 126,210,838.23 | 134,619,772.83 |
| Including: Interest payable | ||
| Dividends payable | 3,891,433.83 | 3,891,433.83 |
| Handling charges and commissions payable | ||
| Reinsurance payables | ||
| Liabilities directly associated with assets held for sale | ||
| Current portion of non-current liabilities | ||
| Other current liabilities | 167,185,906.20 | 72,672,756.98 |
| Total current liabilities | 1,794,574,478.05 | 1,784,238,035.56 |
| Non-current liabilities: | ||
| Insurance contract reserve | ||
| Long-term borrowings | ||
| Bonds payable | ||
| Including: Preferred shares | ||
| Perpetual bonds | ||
| Lease liabilities | ||
| Long-term payables | ||
| Long-term employee benefits payable | ||
| Provisions | 65,893,719.68 | 83,448,865.86 |
| Deferred income | 23,419,140.46 | 25,976,437.56 |
| Deferred income tax liabilities | 158,848,067.26 | 159,449,521.13 |
| Other non-current liabilities | ||
| Total non-current liabilities | 248,160,927.40 | 268,874,824.55 |
| Total liabilities | 2,042,735,405.45 | 2,053,112,860.11 |
| Shareholders’ equity: | ||
| Share capital | 705,692,507.00 | 705,692,507.00 |
| Other equity instruments | ||
| Including: Preferred shares | ||
| Perpetual bonds | ||
| Capital reserves | 641,070,433.90 | 641,070,433.90 |
| Less: Treasury stock | ||
| Other comprehensive income | 701,915,801.44 | 677,272,601.44 |
| Specific reserve | 26,274,967.16 | 23,936,408.22 |
| Surplus reserves | 370,454,881.23 | 370,454,881.23 |
| General reserve | ||
| Retained earnings | 1,130,640,433.07 | 1,024,763,845.76 |
| Total equity attributable to Shareholders of the Company as the parent | 3,576,049,023.80 | 3,443,190,677.55 |
| Non-controlling interests | 87,347,714.15 | 81,977,762.36 |
| Total shareholders’ equity | 3,663,396,737.95 | 3,525,168,439.91 |
| Total liabilities and shareholders’ equity | 5,706,132,143.40 | 5,578,281,300.02 |
Legal representative: Xie Guozhong Head of the accounting department: Jiang He General Manager: Xie Guozhong
(2) Consolidated Income Statement
Unit: RMB
| Item | Reporting Period | Same period of last year |
| 1. Revenue | 2,131,179,011.94 | 2,062,380,205.71 |
| Including: Operating revenue | 2,131,179,011.94 | 2,062,380,205.71 |
| Interest income | ||
| Insurance premium income | ||
| Handling charge and commission income | ||
| 2. Costs and expenses | 2,071,421,074.67 | 2,029,066,392.77 |
| Including: Cost of sales | 1,860,678,573.19 | 1,833,062,266.84 |
| Interest expense | ||
| Handling charge and commission expense | ||
| Surrenders | ||
| Net insurance claims paid | ||
| Net amount provided as insurance contract reserve | ||
| Expenditure on policy dividends | ||
| Reinsurance premium expense | ||
| Taxes and surcharges | 15,241,312.15 | 13,610,258.26 |
| Selling expense | 44,958,081.33 | 49,946,364.14 |
| Administrative expense | 73,157,281.18 | 81,173,540.77 |
| R&D expense | 68,562,216.04 | 58,237,672.87 |
| Finance costs | 8,823,610.78 | -6,963,710.11 |
| Including: Interest expense | 1,185,797.08 | 1,847,351.42 |
| Interest income | 6,631,897.64 | 7,889,599.20 |
| Add: Other income | 8,151,739.43 | 8,360,520.25 |
| Return on investment (“-” for loss) | 32,837,672.66 | 8,990,865.29 |
| Including: Share of profit or loss of joint ventures and associates | ||
| Income from the derecognition of financial assets at amortized cost (“-” for loss) | ||
| Exchange gain (“-” for loss) | ||
| Net gain on exposure hedges (“-” for loss) | ||
| Gain on changes in fair value (“-” for loss) | 1,848,452.90 | 24,996,914.55 |
| Credit impairment loss (“-” for loss) | -18,277,861.69 | -18,195,218.29 |
| Asset impairment loss (“-” for loss) | -1,543,116.71 | -1,007,978.86 |
| Asset disposal income (“-” for loss) | 62,782,750.52 | 6,534,963.52 |
| 3. Operating profit (“-” for loss) | 145,557,574.38 | 62,993,879.40 |
| Add: Non-operating income | 18,454.17 | 318,597.79 |
| Less: Non-operating expense | 37,445.47 | 254,767.59 |
| 4. Profit before tax (“-” for loss) | 145,538,583.08 | 63,057,709.60 |
| Less: Income tax expense | 16,898,887.42 | 12,551,255.73 |
| 5. Net profit (“-” for net loss) | 128,639,695.66 | 50,506,453.87 |
| 5.1 By operating continuity | ||
| 5.1.1 Net profit from continuing operations (“-” for net loss) | 128,639,695.66 | 50,506,453.87 |
| 5.1.2 Net profit from discontinued operations (“-” for net loss) | ||
| 5.2 By shareholders' equity | ||
| 5.2.1 Net profit attributable to shareholders of the Company as the parent | 121,401,822.46 | 44,488,834.29 |
| 5.2.2 Net profit attributable to non-controlling interests | 7,237,873.20 | 6,017,619.58 |
| 6. Other comprehensive income, net of tax | 24,643,200.00 | 32,426,650.00 |
| Attributable to shareholders of the Company as the parent | 24,643,200.00 | 32,426,650.00 |
| 6.1 Items that will not be reclassified to profit or loss | 24,643,200.00 | 32,426,650.00 |
| 6.1.1 Changes caused by remeasurements on defined benefit schemes | ||
| 6.1.2 Other comprehensive income that will not be reclassified to profit or loss under the equity method | ||
| 6.1.3 Changes in the fair value of investments in other equity instruments | 24,643,200.00 | 32,426,650.00 |
| 6.1.4 Changes in the fair value arising from changes in own credit risk | ||
| 6.1.5 Other | ||
| 6.2 Items that will be reclassified to profit or loss | ||
| 6.2.1 Other comprehensive income that will be reclassified to profit or loss under the equity method | ||
| 6.2.2 Changes in the fair value of investments in other debt obligations | ||
| 6.2.3 Other comprehensive income arising from the reclassification of financial assets | ||
| 6.2.4 Credit impairment allowance for investments in other debt obligations | ||
| 6.2.5 Reserve for cash flow hedges | ||
| 6.2.6 Differences arising from the translation of foreign currency-denominated financial statements | ||
| 6.2.7 Other | ||
| Attributable to non-controlling interests | ||
| 7. Total comprehensive income | 153,282,895.66 | 82,933,103.87 |
| Attributable to shareholders of the Company as the parent | 146,045,022.46 | 76,915,484.29 |
| Attributable to non-controlling interests | 7,237,873.20 | 6,017,619.58 |
| 8. Earnings per share | ||
| 8.1 Basic earnings per share | 0.1720 | 0.0630 |
| 8.2 Diluted earnings per share | 0.1720 | 0.0630 |
Where a business combination under common control occurred in the current period, the net profit realised by the combinee prior to the combination was RMB 0.00, and the net profit realised by the combinee in the prior period was RMB 0.00.
Legal representative: Xie Guozhong
General Manager: Xie Guozhong
Head of the accounting department: Jiang He
(3) Consolidated Cash Flow Statement
Unit: RMB
| Item | Reporting Period | Same period of last year |
| 1. Cash flows from operating activities: | ||
| Proceeds from sale of commodities and rendering of services | 1,302,590,931.34 | 1,288,866,932.65 |
| Net increase in customer deposits and interbank deposits | ||
| Net increase in borrowings from the central bank | ||
| Net increase in loans from other financial institutions | ||
| Premiums received on original insurance contracts | ||
| Net proceeds from reinsurance | ||
| Net increase in deposits and investments of policy holders | ||
| Interest, handling charges and commissions received | ||
| Net increase in interbank loans obtained | ||
| Net increase in proceeds from repurchase transactions | ||
| Net proceeds from acting trading of securities | ||
| Tax rebates | 38,598,394.18 | 43,208,363.86 |
| Cash generated from other operating activities | 25,566,415.68 | 21,225,261.73 |
| Subtotal of cash generated from operating activities | 1,366,755,741.20 | 1,353,300,558.24 |
| Payments for commodities and services | 1,299,434,825.53 | 1,150,213,213.74 |
| Net increase in loans and advances to customers | ||
| Net increase in deposits in the central bank and in interbank loans granted | ||
| Payments for claims on original insurance contracts | ||
| Net increase in interbank loans granted | ||
| Interest, handling charges and commissions paid | ||
| Policy dividends paid | ||
| Cash paid to and for employees | 246,782,551.10 | 238,938,690.91 |
| Taxes paid | 82,806,123.22 | 52,976,271.62 |
| Cash used in other operating activities | 112,969,140.78 | 126,088,113.61 |
| Subtotal of cash used in operating activities | 1,741,992,640.63 | 1,568,216,289.88 |
| Net cash generated from/used in operating activities | -375,236,899.43 | -214,915,731.64 |
| 2. Cash flows from investing activities: | ||
| Proceeds from disinvestment | 1,096,192,952.22 | 990,373,006.37 |
| Return on investment | 50,474,643.95 | 12,999,882.94 |
| Net proceeds from the disposal of fixed assets, intangible assets and other long-lived assets | 431,763.26 | 4,079,340.22 |
| Net proceeds from the disposal of subsidiaries and other business units | 52,829.44 | |
| Cash generated from other investing activities | ||
| Subtotal of cash generated from investing activities | 1,147,152,188.87 | 1,007,452,229.53 |
| Payments for the acquisition of fixed assets, intangible assets and other long-lived assets | 5,451,395.84 | 5,941,402.56 |
| Payments for investments | 1,239,545,139.05 | 974,553,500.00 |
| Net increase in pledged loans granted | ||
| Net payments for the acquisition of subsidiaries and other business units | ||
| Cash paid for other investing activities | ||
| Subtotal of cash used in investing activities | 1,244,996,534.89 | 980,494,902.56 |
| Net cash generated from/used in investing activities | -97,844,346.02 | 26,957,326.97 |
| 3. Cash flows from financing activities: | ||
| Capital contributions received | ||
| Including: Capital contributions by non-controlling interests to subsidiaries | ||
| Borrowings raised | ||
| Cash generated from other financing activities | ||
| Subtotal of cash generated from financing activities | ||
| Repayment of borrowings | ||
| Cash paid for distribution of dividends or profits, or for payment of interest | 15,525,235.15 | 7,056,925.07 |
| Including: Dividends paid by subsidiaries to non-controlling interests | ||
| Cash used in other financing activities | ||
| Subtotal of cash used in financing activities | 15,525,235.15 | 7,056,925.07 |
| Net cash generated from/used in financing activities | -15,525,235.15 | -7,056,925.07 |
| 4. Effect of foreign exchange rates changes on cash and cash equivalents | -14,715,041.02 | 0.00 |
| 5. Net increase in cash and cash equivalents | -503,321,521.62 | -195,015,329.74 |
| Add: Cash and cash equivalents, beginning of the period | 1,248,067,921.44 | 892,681,884.84 |
| 6. Cash and cash equivalents, end of the period | 744,746,399.82 | 697,666,555.10 |
2. Initial application of new accounting standards effective from 2026 and adjustments to the status of relevant items in the financial statements as of the beginning of the current year
☐ Applicable ✓ Not Applicable
2. Initial application of new accounting standards effective from 2026 and adjustments to the status of relevant items in the financial statements as of the beginning of the current year ☐Applicable ✓Not Applicable
3. Audit Report
Has the third quarter report been audited
☐ Yes ✓ No
The company's third quarter report has not been audited.
The Board of Directors Changchai Company, Limited 27 October 2026
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