Share’s code： 000550 Share’s Name： Jiangling Motors No.： 2025-045
Jiangling Motors Corporation, Ltd.
Jiangling Motors Co., Ltd. and its Board members undertake that the
information disclosed herein is truthful, accurate and complete and does
not contain any false statement, misrepresentation or major omission.
Important Note
members, and the senior executives are jointly and severally liable for the
truthfulness, accuracy and completeness of the information disclosed in the
Report, and confirm that the information disclosed herein does not contain
any false statement, misrepresentation or major omission.
Hu Hanfeng, confirm that the financial statements in this Quarter Report are
truthful, accurate and complete.
□Yes ?No
(1) Main accounting data and financial indicators
Unit: RMB
Beginning of
Reporting period YoY YoY
Year to End of
(2025 Third Change Change
Reporting
Quarter) (%) (%)
Period
Revenue 9,196,139,182 -6.26% 27,288,525,392 -1.59%
Net Profit Attributable to the
Equity Holders of the Company
Net Profit Attributable to the
Equity Holders of the Company
-72,929,211 -126.67% 466,986,995 -56.95%
After Deducting Non-Recurring
Profit or Loss
Net Cash Generated From
—— —— 201,904,797 -88.30%
Operating Activities
Basic Earnings Per Share
(RMB)
Diluted Earnings Per Share
(RMB)
Weighted Average Return on
Net Asset Ratio (%)
At the End of the At the End of the Change
Reporting Period Previous Year (%)
Total Assets 29,616,572,234 30,839,912,640 -3.97%
Shareholder’s Equity Attributable to the
Equity Holders of the Company
(2) Non-recurring profit and loss items and amounts
?Applicable □Not Applicable
Unit: RMB
Reporting period Beginning of
(2025 Third Year to End of
Quarter) Reporting Period
Profit and loss of non-current assets disposal
(including the charge-off part of the asset impairment -1,620,371 16,794,091
provision)
Government subsidies included in the current profit
and loss
In addition to the effective hedging business related to
the normal operating business of the Company,
holding the gains and losses of fair value changes
arising from trading financial assets and trading
-588,329 3,124,924
financial liabilities, as well as the investment income
obtained from the disposal of trading financial assets,
trading financial liabilities and available for sale
financial assets
Capital occupation fee charged for non-financial
enterprises included in the current profit and loss
Reversal of impairment allowance for individually
assessed receivables
Other non-operating income and expenses except the
-1,287,919 160,734
above
Other profit and loss items that meet the definition of
-14,072,157 -14,158,730
non-recurring profit and loss
Less: Income tax impact amount 42,313,758 75,958,546
Influence of minority shareholders' equity (after-tax) -80,254,070 -79,738,714
Total 89,335,165 282,147,006
Details of other profit and loss items that meet the definition of non-recurring
profit and loss
□Applicable ?Not Applicable
There is no other profit and loss items that meet the definition of non-recurring
profit and loss in the Company.
The description of the non-recurring profit and loss items listed in Corporate
Information Disclosure of Public Issuing Securities No.1 is defined as recurring
profit and loss items
□Applicable ?Not Applicable
The Company does not have a situation in which the non-recurring profit and
loss items listed in No.1 of Corporate Information Disclosure Announcement
No.1 are defined as recurring profit and loss.
(3) Causes and explanations on major changes of financial indicators of the
reporting period
?Applicable □Not Applicable
In the first three quarters of 2025, JMC sold 260,957 vehicles in total,
increased by 7.73% compared with the same period last year, including 70,773
light buses, 52,726 trucks, 45,404 pickups, 92,054 SUVs. Revenue was RMB
During the first three quarters of 2025, net profit attributable to the equity
holders of the Company was RMB 749 million, decreased by RMB 417 million
and down 35.76% compared with the same period last year, and net profit
attributable to the equity holders of the Company after deducting non-recurring
profit or loss decreased by RMB 618 million and down 56.95% compared with
the same period last year. In the third quarter of 2025, compared with the same
period last year, net profit attributable to the equity holders of the Company
decreased by RMB 254 million, down 93.94%, and net profit attributable to the
equity holders of the Company after deducting non-recurring profit or loss
decreased by RMB 346 million, down 126.67%. The above changes were
mainly due to the corresponding reversal of the recognized deferred income
tax assets, resulting from the business adjustment of Jiangling Ford
Automotive Technology (Shanghai) Co., Ltd., a controlling subsidiary of the
Company, in this quarter.
As of the end of the third quarter of 2025, compared with the end of the
previous year, accounts receivable increased by RMB 1,536 million, up
As of the end of the third quarter of 2025, compared with the end of the
previous year, financing receivables decreased by RMB 148 million, down
bills of exchange.
As of the end of the third quarter of 2025, compared with the end of the
previous year, deferred income tax assets decreased by RMB 555 million,
down 36.30%, mainly due to the impact of the reversal of deferred income tax
assets of the subsidiary.
As of the end of the third quarter of 2025, compared with the end of the
previous year, short-term borrowings decreased by RMB 700 million, down
As of the end of the third quarter of 2025, compared with the end of the
previous year, contract liabilities increased by RMB 323 million, up 69.03%,
mainly due to the increase in advance payments for technical services.
As of the end of the third quarter of 2025, compared with the end of the
previous year, minority interests decreased by RMB 293 million, down 42.02%,
mainly due to the impact of changes in the profit and loss of the subsidiary.
During the first three quarters of 2025, compared with the same period last
year, selling and distribution expenses decreased by RMB 317 million, down
during the same period last year.
During the first three quarters of 2025, compared with the same period last
year, income tax expenses increased by RMB 713 million, up 1152.86%,
mainly due to the impact of the reversal of deferred income tax assets of the
subsidiary.
During the first three quarters of 2025, compared with the same period last
year, net cash flows generated from operating activities decreased by RMB
sales of goods.
During the first three quarters of 2025, compared with the same period last
year, net cash flows used in investing activities decreased by RMB 360 million,
down 35.43%, mainly due to the decrease of cash paid for the acquisition and
construction of fixed assets during the period.
(1) Total number of shareholders and top ten shareholders
Total shareholders JMC had 39,356 shareholders, including 33,537 A-share holders and 5,819
(as at September 31, 2025) B-share holders.
Top ten shareholders (excluding lending of shares through refinancing)
Shareholding Shares with Shares due to
Shares at the
Shareholder Name Shareholder Type Percentage Trading Mortgage or
End of Year
(%) Restriction Frozen or Mark
Nanchang Jiangling State-owned legal
Investment Co., Ltd. person
Ford Motor Company Foreign legal person 32.00% 276,228,394 0 0
Hong Kong Securities
Clearing Company Ltd. Foreign legal person 1.30% 11,229,724 0 0
(HKSCC)
Domestic natural
Jin Xing 0.65% 5,573,000 0 0
person
China Merchants
Foreign legal person 0.54% 4,652,775 0 0
Securities (HK) Co., Ltd.
Bank of China Limited -
Yi Fangda Hong Kong
Stock Connect Dividend Domestic
non-State-owned 0.37% 3,155,600 0 0
Flexible Allocation legal persons
Hybrid Securities
Investment Fund
Domestic natural
Zhou Jianqi 0.25% 2,121,300 0 0
person
Industrial and
Commercial Bank of
Domestic
China Limited - HTFTZ
non-State-owned 0.24% 2,069,224 0 0
Intelligent Manufacturing
legal persons
Stock Securities
Investment Fund
China Merchants Bank
Co., Ltd. - China
Domestic
Southern CSI 1000
non-State-owned 0.22% 1,896,530 0 0
Exchange Traded Open
legal persons
End Index Securities
Investment Fund
Domestic natural
Li Wei 0.19% 1,628,200 0 0
person
Top ten shareholders holding unlimited tradable shares (excluding lending of shares through refinancing and
executive lock-up shares)
Shareholder Name Shares without Trading Share Type
Restriction
Nanchang Jiangling Investment Co., Ltd. 354,176,000 A share
Ford Motor Company 276,228,394 B share
Hong Kong Securities Clearing Company Ltd.
(HKSCC)
Jin Xing 5,573,000 B share
China Merchants Securities (HK) Co., Ltd. 4,652,775 B share
Bank of China Limited - Yi Fangda Hong Kong
Stock Connect Dividend Flexible Allocation 3,155,600 A share
Hybrid Securities Investment Fund
Zhou Jianqi 2,121,300 A share
Industrial and Commercial Bank of China
Limited - HTFTZ Intelligent Manufacturing Stock 2,069,224 A share
Securities Investment Fund
China Merchants Bank Co., Ltd. - China
Southern CSI 1000 Exchange Traded Open 1,896,530 A share
End Index Securities Investment Fund
Li Wei 1,628,200 B share
Notes on association among above-mentioned shareholders None.
Description of shareholders participating in financing and None.
securities financing business
Participation of Shareholders holding more than 5% of shares, top 10
shareholders and top 10 shareholders with unlimited shares in the lending of
shares in the refinancing business
□Applicable ?Not Applicable
Change in the top 10 shareholders of the Company and the top 10
shareholders with unlimited shares from the previous period due to
lending/repatriation of refinancing business
□Applicable ?Not Applicable
(2) Total number of shareholders holding preferred shares and top ten
shareholders holding preferred shares
□Applicable ?Not Applicable
□Applicable ?Not Applicable
Jiangling Motors Corporation, Ltd.
(1) CONSOLIDATED AND COMPANY BALANCE SHEETS AS AT 30 SEPTEMBER
(All amounts in RMB Yuan unless otherwise stated)
Item
Consolidated* Consolidated
Current assets
Cash and cash equivalents 10,658,995,228 12,546,295,890
Derivative financial assets 2,392,110 12,612,380
Notes receivable 270,110 226,865
Accounts receivable 5,717,394,342 4,181,008,234
Financing receivables 154,179,199 302,065,502
Advances to suppliers 68,621,538 94,749,172
Other receivables 44,020,263 54,013,240
Inventories 1,878,644,028 2,054,517,242
Current portion of non-current assets 13,236,381 20,784,738
Other current assets 1,528,559,277 1,228,372,977
Total current assets 20,066,312,476 20,494,646,240
Non-current assets
Long-term receivables 17,352,040 18,533,908
Long-term equity investments 207,435,992 219,298,031
Fixed assets 5,825,152,824 5,749,474,005
Construction in progress 528,328,529 661,911,780
Right-of-use assets 88,516,881 158,485,688
Intangible assets 1,678,170,087 1,811,454,853
Development expenditures 224,887,560 188,103,430
Goodwill - -
Deferred tax assets 974,766,226 1,530,144,365
Other non-current assets 5,649,619 7,860,340
Total non-current assets 9,550,259,758 10,345,266,400
TOTAL ASSETS 29,616,572,234 30,839,912,640
Current liabilities
Short-term borrowings 800,000,000 1,500,000,000
Notes payable 139,132,013 -
Accounts payable 10,202,559,849 10,061,223,944
Contract liabilities 790,551,331 467,704,291
Employee benefits payable 643,587,581 780,174,574
Taxes payable 154,076,459 265,198,389
Other payables 5,177,565,980 5,739,064,167
Current portion of non-current liabilities 79,541,084 86,155,114
Other current liabilities 313,600,315 341,548,441
Total current liabilities 18,300,614,612 19,241,068,920
Non-current liabilities
Long-term borrowings 697,947 941,453
Lease liabilities 9,066,870 93,752,634
Long-term employee benefits payable 56,852,211 59,342,000
Provisions 270,874,862 287,165,703
Deferred income 62,917,703 61,202,010
Deferred tax liabilities 225,700,884 130,301,876
Other non-current liabilities 423,207,186 370,793,523
Total non-current liabilities 1,049,317,663 1,003,499,199
Total liabilities 19,349,932,275 20,244,568,119
Equity
Share capital 863,214,000 863,214,000
Capital surplus 839,442,490 839,442,490
Less: treasury shares 170,214,887 -
Other comprehensive income -26,388,000 -26,388,000
Special reserve 5,306,894 5,371,093
Surplus reserve 431,607,000 431,607,000
Retained earnings 9,313,858,930 9,179,333,271
Total equity attributable to shareholders of
the Company
Minority interests -990,186,468 -697,235,333
Total equity 10,266,639,959 10,595,344,521
TOTAL LIABILITIES AND EQUITY 29,616,572,234 30,839,912,640
* Unaudited financial indexes
(2) CONSOLIDATED AND COMPANY INCOME STATEMENTS FOR 1st
JANUARY 2025 TO 30th SEPTEMBER 2025
(All amounts in RMB Yuan unless otherwise stated)
Item
Consolidated* Consolidated*
Total Revenue 27,288,525,392 27,730,616,481
Including: Revenue 27,288,525,392 27,730,616,481
Total Cost of sales 26,574,464,198 27,317,394,616
Including: Cost of sales 23,456,492,984 23,887,027,088
Taxes and surcharges 874,428,587 1,097,433,569
Selling and distribution expenses 652,178,361 969,535,546
General and administrative expenses 714,087,246 647,793,534
Research and development expenses 964,149,878 855,560,334
Financial expenses -86,872,858 -139,955,455
Including: Interest expenses 13,491,216 17,036,093
Interest income -111,644,594 -163,857,921
Add: Other income 387,822,730 423,291,899
Investment income -1,667,833 4,763,043
Including: Share of profit of associates and joint
-11,862,039 -3,872,852
ventures
Gains on changes in fair value -7,314,033 -9,979,484
Credit impairment losses -2,892,795 8,320,548
Asset impairment losses 107,070 4,564,039
Gains on disposal of assets 17,397,780 4,941,898
Operating profit 1,107,514,113 849,123,808
Add: Non-operating income 2,790,940 2,060,583
Less: Non-operating expenses 3,233,896 7,712,894
Total profit 1,107,071,157 843,471,497
Less: Income tax expenses 650,888,291 -61,820,694
Net profit 456,182,866 905,292,191
Classified by continuity of operations
Net profit from continuing operations 456,182,866 905,292,191
Net profit from discontinued operations - -
Classified by ownership of the equity
Attributable to shareholders of the Company 749,134,001 1,166,091,015
Minority interests -292,951,135 -260,798,824
Other comprehensive income, net of tax - -
Attributable to shareholders of the Company
Other comprehensive income items which will not be
reclassified to profit or loss
Changes arising from remeasurement of defined benefit
- -
plan
Attributable to minority interests - -
Total comprehensive income 456,182,866 905,292,191
Attributable to shareholders of the Company 749,134,001 1,166,091,015
Attributable to minority interests -292,951,135 -260,798,824
Earnings per share
Basic earnings per share(RMB Yuan) 0.87 1.35
Diluted earnings per share(RMB Yuan) 0.87 1.35
*: Unaudited financial indexes
(3) CONSOLIDATED AND COMPANY CASH FLOW STATEMENTS FOR 1st
JANUARY 2025 TO 30th SEPTEMBER 2025
(All amounts in RMB Yuan unless otherwise stated)
Item
Consolidated* Consolidated*
Cash flows generated from operating activities
Cash received from sales of goods or rendering of
services
Refunds of taxes - 164,581,363
Cash received relating to other operating activities 365,842,336 160,129,899
Sub-total of cash inflows 28,650,938,840 30,205,358,066
Cash paid for goods and services 22,758,076,662 22,533,597,108
Cash paid to and on behalf of employees 2,144,384,139 2,115,699,297
Payments of taxes and surcharges 1,864,060,966 2,256,297,011
Cash paid relating to other operating activities 1,682,512,276 1,573,390,998
Sub-total of cash outflows 28,449,034,043 28,478,984,414
Net cash flows generated from operating activities 201,904,797 1,726,373,652
Cash flows used in investing activities
Cash received from disposal of investments 55,000,000 600,000,000
Cash received from returns on investments 264,648 8,000,784
Net cash received from disposal of fixed assets,
intangible assets and other long-term assets
Cash received relating to other investing activities 118,320,297 170,025,631
Sub-total of cash inflows 214,335,614 804,441,321
Cash paid to acquire fixed assets, intangible assets and
other long-term assets
Cash paid to acquire investments 55,000,000 600,000,000
Cash paid relating to other investing activities 533,226 2,805,783
Sub-total of cash outflows 870,205,322 1,820,205,603
Net cash flows used in investing activities -655,869,708 -1,015,764,282
Cash flows used in financing activities
Cash received from borrowings 3,730,381,417 1,993,735,139
Cash received from other financing activities - 1,332,309
Sub-total of cash inflows 3,730,381,417 1,995,067,448
Cash repayments of borrowings 4,350,240,906 2,802,237,020
Cash payments for distribution of dividends, profits or
interest expenses
Cash paid relating to other financing activities 190,177,199 21,178,345
Sub-total of cash outflows 5,157,813,803 3,422,564,992
Net cash flows used in financing activities -1,427,432,386 -1,427,497,544
Effect of foreign exchange rate changes on cash
and cash equivalents - -
Net decrease in cash and cash equivalents -1,881,397,297 -716,888,174
Add: Cash and cash equivalents at beginning of year 12,475,176,009 11,746,518,615
Cash and cash equivalents at end of period 10,593,778,712 11,029,630,441
* Unaudited financial indexes
adjustment and the situation of first implementation of the financial statements
at the beginning of the year related items
□Applicable ?Not Applicable
□Yes ?No
JMC 2025 Third Quarter Report is not audited.
Board of Directors
Jiangling Motors Corporation, Ltd.
October 22, 2025
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