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资讯 Jiangling Motors Corporation, Ltd. 2026 Third Quarter Report
Jiangling Motors Corporation, Ltd. and its Board members undertake that the information disclosed herein is true, accurate and complete and does not contain any false record, misleading statement or material omission.
Important Notes
1. The Board of Directors and its members and the senior executives warrant that this Quarter Report is true, accurate and complete, containing no false records, misleading statements or material omissions, and shall bear individual and joint legal liabilities.
2. Chairman Qiu Tiangao, CFO Li Weihua and Chief of Finance Department Jiang Nan, confirm that the financial statements in this Quarter Report are true, accurate and complete.
3. Whether the 2026 third quarter report is audited? □Yes No
1. Key Financial Data
(1) Main accounting data and financial indicators
Whether the Company needs to retrospectively adjust or restate the accounting data of previous years?
□Yes No
Unit: RMB
| Reporting period (2026 Third Quarter) | YoY Change (%) | Beginning of Year to End of Reporting Period | YoY Change (%) | ||
| Revenue | 9,424,462,040 | 2.48% | 28,786,329,291 | 5.49% | |
| Net Profit Attributable to the Equity Holders of the Company | 167,819,685 | 922.92% | 906,621,916 | 21.02% | |
| Net Profit Attributable to the Equity Holders of the Company After Deducting Non-Recurring Profit or Loss | 152,960,633 | 309.74% | 751,073,338 | 60.83% | |
| Net Cash Generated From Operating Activities | —— | —— | 1,781,700,832 | 782.45% | |
| Basic Earnings Per Share (RMB) | 0.20 | 900.00% | 1.06 | 21.84% | |
| Diluted Earnings Per Share (RMB) | 0.20 | 900.00% | 1.06 | 21.84% | |
| Weighted Average Return on Net Asset Ratio (%) | 1.45% | 1.29% | 7.56% | 0.98% | |
| At the End of the Reporting Period | At the End of the Previous Year | Change (%) | |||
| Total Assets | 32,540,144,752 | 33,725,291,097 | -3.51% | ||
| Shareholder's Equity Attributable to the Equity Holders of the Company | 12,133,819,846 | 11,700,238,217 | 3.71% | ||
(2) Non-recurring gains and losses items and amounts
Applicable □Not Applicable
Unit: RMB
| Reporting period (2026 Third Quarter) | Beginning of Year to End of Reporting Period | |
| Gain Profit or and loss of non-current assets disposal (including the reversal charge-off part of the asset impairment provision) | 10,297,381 | 14,871,575 |
| Government subsidies included in the current gain or profit and loss | 1,997,623 | 166,599,397 |
| 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 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 | 2,044,723 | 3,034,106 |
| Capital occupation fee charged from for non-financial enterprises included in the current profit and loss | 1,288,674 | 3,267,597 |
| Reversal of impairment allowance for individually assessed receivables | 1,558,669 | |
| Other non-operating income and expenses except the above | 1,921,381 | 307,900 |
| Less: Income tax impact amount | 2,470,230 | 30,195,166 |
| Influence of minority shareholders' equity (after-tax) | 220,500 | 3,895,500 |
| Total | 14,859,052 | 155,548,578 |
Details of other profit and loss items that meet the definition of non-recurring profit and loss □Applicable Not Applicable
There are 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 2026, JMC sold 285,285 vehicles in total, increased by 9.32% compared with the same period last year, including 82,132 light buses, 58,583 trucks, 45,058 pickups, 99,512 SUVs. Revenue was RMB 28,786 million, increased by 5.49% compared with the same period last year.
During the first three quarters of 2026, net profit attributable to the equity holders of the Company was RMB 907 million, increased by RMB 157 million and up 21.02% 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 increased by RMB 284 million and up 60.83% compared with the same period last year. The above changes were mainly attributable to the reversal of deferred tax assets resulting from the business adjustment of Jiangling Ford Automobile Technology (Shanghai) Co., Ltd., a controlling subsidiary of the Company, in the third quarter of last year.
As of the end of the third quarter of 2026, compared with the end of the previous year, financing receivables decreased by RMB 136 million, down 66.31%, mainly due to the payment of supplier proceeds by bills.
As of the end of the third quarter of 2026, compared with the end of the previous year, short-term borrowings decreased by RMB 1,150 million, down 58.97%, mainly due to the repayment of matured borrowings.
During the first three quarters of 2026, compared with the same period last year, income tax expenses decreased by RMB 507 million, down 77.84%, mainly due to the impact of the reversal of deferred tax assets of the subsidiary in the same period of last year.
During the first three quarters of 2026, compared with the same period last year, minority interests increased by RMB 294 million, up 100.46%, mainly due to the impact of changes in the subsidiary's profit and loss.
During the first three quarters of 2026, compared with the same period last year, net cash flows generated from operating activities increased by RMB 1,580 million, up 782.45%, mainly due to the higher sales volume.
2 Shareholder Information
(1) Total number of shareholders and top ten shareholders
| Total shareholders (as at September 30, 2026) | JMC had 35,168 shareholders, including 29,451 A-share holders and 5,717 B-share holders. | |||||
| Top ten shareholders (excluding lending of shares through refinancing) | ||||||
| Shareholder Name | Shareholder Type | Shareholding Percentage (%) | Shares at the End of Year | Shares with Trading Restriction | Shares due to Mortgage or Frozen or Mark | |
| Nanchang Jiangling Investment Co., Ltd. | State-owned legal person | 41.03% | 354,176,000 | 0 | 0 | |
| Ford Motor Company | Foreign legal person | 32.00% | 276,228,394 | 0 | 0 | |
| Hong Kong Securities Clearing Company Ltd. (HKSCC) | Foreign legal person | 0.99% | 8,556,071 | 0 | 0 | |
| Industrial and Commercial Bank of China Limited - Guolian Superior Industry Mixed Securities Investment Fund | Domestic non-State-owned legal persons | 0.71% | 6,143,001 | 0 | 0 | |
| Jin Xing | Domestic natural person | 0.58% | 4,979,600 | 0 | 0 | |
| China Merchants Fund Management Co., Ltd. - Social Security Fund Portfolio 1903 | Domestic non-State-owned legal persons | 0.33% | 2,816,800 | 0 | 0 | |
| CITIC Securities Co., Ltd. – Invesco Great Wall CSI Shanghai-Hong Kong-Shenzhen Dividend Growth Low Volatility Index Securities Investment Fund | Domestic non-State-owned legal persons | 0.30% | 2,600,000 | 0 | 0 | |
| Zhao Yong | Domestic natural person | 0.29% | 2,479,800 | 0 | 0 | |
| China CITIC Bank Corporation Limited — E Fund CNI Value 100 Exchange Traded Fund | Domestic non-State-owned legal persons | 0.26% | 2,236,500 | 0 | 0 | |
| Li Yifeng | Domestic naturalperson | 0.22% | 1,891,500 | 0 | 0 | |
| Top ten shareholders holding unlimited tradable shares (excluding lending of shares through refinancing and executive lock-up shares) | ||||||
| Shareholder Name | Shares without Trading Restriction | Share Type | ||||
| 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) | 8,556,071 | A share | ||||
| Industrial and Commercial Bank of China Limited - Guolian Superior Industry Mixed Securities Investment Fund | 6,143,001 | A share | ||||
| Jin Xing | 4,979,600 | B share | ||||
| China Merchants Fund Management Co., Ltd. - Social Security Fund Portfolio 1903 | 2,816,800 | A share | ||||
| CITIC Securities Co., Ltd. – Invesco Great Wall CSI Shanghai-Hong Kong-Shenzhen Dividend Growth Low Volatility Index Securities Investment Fund | 2,600,000 | A share | ||||
| Zhao Yong | 2,479,800 | A share | ||||
| China CITIC Bank Corporation Limited — E Fund CNI Value 100 Exchange Traded Fund | 2,236,500 | A share | ||||
| Li Yifeng | 1,891,500 | B share | ||||
| Notes on association among above-mentioned shareholders | Shareholders holding more than 5% are not related. | |||||
| Description of shareholders participating in financing and securities financing business | None. | |||||
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
2. Chairman Qiu Tiangao, CFO Li Weihua and Chief of Finance Department Jiang Nan, confirm that the financial statements in this Quarter Report are true, accurate and complete.
3. Other Major Events □Applicable Not Applicable
4. Financial Statements
Jiangling Motors Corporation, Ltd.
(1) CONSOLIDATED AND COMPANY BALANCE SHEETS AS AT 30 SEPTEMBER 2026
(All amounts in RMB Yuan unless otherwise stated)
| Item | 30 September 2026 Consolidated* | 31 December 2025 Consolidated |
| Current assets | ||
| Cash and cash equivalents | 13,370,835,291 | 13,582,540,346 |
| Financial assets held for trading | 801,643,836 | 801,902,466 |
| Accounts receivable | 5,911,891,319 | 6,141,405,767 |
| Financing receivables | 69,353,840 | 205,851,591 |
| Advances to suppliers | 74,474,072 | 98,624,060 |
| Other receivables | 32,377,033 | 134,768,377 |
| Inventories | 2,168,674,607 | 2,011,925,708 |
| Current portion of non-current assets | 35,009,517 | 27,153,632 |
| Other current assets | 1,203,789,539 | 1,194,944,928 |
| Total current assets | 23,668,049,054 | 24,199,116,875 |
| Non-current assets | ||
| Long-term receivables | 80,900,383 | 71,519,964 |
| Long-term equity investments | 173,758,228 | 203,641,921 |
| Fixed assets | 5,374,479,913 | 5,789,423,822 |
| Construction in progress | 567,895,828 | 507,614,873 |
| Right-of-use assets | 60,343,965 | 120,243,307 |
| Intangible assets | 1,493,772,911 | 1,790,269,138 |
| Development expenditures | 106,522,063 | 57,594,483 |
| Goodwill | - | - |
| Deferred tax assets | 1,011,720,416 | 980,954,002 |
| Other non-current assets | 2,701,991 | 4,912,712 |
| Total non-current assets | 8,872,095,698 | 9,526,174,222 |
| TOTAL ASSETS | 32,540,144,752 | 33,725,291,097 |
| Current liabilities | ||
| Short-term borrowings | 800,000,000 | 1,950,000,000 |
| Derivative financial liabilities | 3,028,793 | 695,349 |
| Notes payable | 476,036,649 | 427,292,904 |
| Accounts payable | 11,094,994,485 | 11,397,760,484 |
| Contract liabilities | 512,299,533 | 545,864,754 |
| Employee benefits payable | 522,253,855 | 729,156,434 |
| Taxes payable | 112,122,585 | 132,698,441 |
| Other payables | 5,567,213,744 | 5,803,694,871 |
| Current portion of non-current liabilities | 22,163,634 | 91,863,024 |
| Other current liabilities | 310,232,012 | 304,431,406 |
| Total current liabilities | 19,420,345,290 | 21,383,457,667 |
| Non-current liabilities | ||
| Long-term borrowings | 220,522 | 460,276 |
| Lease liabilities | 30,255,424 | 44,860,116 |
| Long-term employee benefits payable | 47,471,487 | 49,853,000 |
| Provisions | 260,508,602 | 255,436,677 |
| Deferred income | 19,894,366 | 13,406,177 |
| Deferred tax liabilities | 201,437,672 | 123,918,738 |
| Other non-current liabilities | 525,621,325 | 461,860,038 |
| Total non-current liabilities | 1,085,409,398 | 949,795,022 |
| Total liabilities | 20,505,754,688 | 22,333,252,689 |
| Equity | ||
| Share capital | 863,214,000 | 863,214,000 |
| Capital surplus | 839,442,490 | 839,442,490 |
| Less: treasury shares | 170,214,887 | 170,214,887 |
| Other comprehensive income | -23,862,000 | -23,862,000 |
| Special reserve | 9,805,857 | 7,860,966 |
| Surplus reserve | 431,607,000 | 431,607,000 |
| Retained earnings | 10,183,827,386 | 9,752,190,648 |
| Total equity attributable to shareholders of the Company | 12,133,819,846 | 11,700,238,217 |
| Minority interests | -99,429,782 | -308,199,809 |
| Total equity | 12,034,390,064 | 11,392,038,408 |
| TOTAL LIABILITIES AND EQUITY | 32,540,144,752 | 33,725,291,097 |
\* Unaudited financial indexes
(2) CONSOLIDATED AND COMPANY INCOME STATEMENTS FOR 1st JANUARY 2026 TO 30th SEPTEMBER 2026 (All amounts in RMB Yuan unless otherwise stated)
| Item | 2026.1.1-2026.9.30 Consolidated* | 2025.1.1-2025.9.30 Consolidated* |
| Total Revenue | 28,786,329,291 | 27,288,525,392 |
| Including: Revenue | 28,786,329,291 | 27,288,525,392 |
| Total Cost of sales | 28,127,893,303 | 26,574,464,198 |
| Including: Cost of sales | 25,445,878,751 | 23,456,492,984 |
| Taxes and surcharges | 717,729,543 | 874,428,587 |
| Selling and distribution expenses | 550,533,293 | 652,178,361 |
| General and administrative expenses | 593,681,966 | 714,087,246 |
| Research and development expenses | 899,523,420 | 964,149,878 |
| Financial expenses | -79,453,670 | -86,872,858 |
| Including: Interest expenses | 6,291,884 | 13,491,216 |
| Interest income | -76,779,020 | -111,644,594 |
| Add: Other income | 391,958,894 | 387,822,730 |
| Investment income | -1,189,453 | -1,667,833 |
| Including: Share of profit of associates and joint ventures | -3,258,294 | -11,862,039 |
| Gains on changes in fair value | 3,342,340 | -7,314,033 |
| Credit impairment losses | -2,192,830 | -2,892,795 |
| Asset impairment losses | -10,940,270 | 107,070 |
| Gains on disposal of assets | 13,335,338 | 17,397,780 |
| Operating profit | 1,052,750,007 | 1,107,514,113 |
| Add: Non-operating income | 4,162,583 | 2,790,940 |
| Less: Non-operating expenses | 4,703,346 | 3,233,896 |
| Total profit | 1,052,209,244 | 1,107,071,157 |
| Less: Income tax expenses | 144,239,945 | 650,888,291 |
| Net profit | 907,969,299 | 456,182,866 |
| Classified by continuity of operations | ||
| Net profit from continuing operations | 907,969,299 | 456,182,866 |
| Net profit from discontinued operations | - | - |
| Classified by ownership of the equity | ||
| Attributable to shareholders of the Company | 906,621,916 | 749,134,001 |
| Minority interests | 1,347,383 | -292,951,135 |
| 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 | 907,969,299 | 456,182,866 |
| Attributable to shareholders of the Company | 906,621,916 | 749,134,001 |
| Attributable to minority interests | 1,347,383 | -292,951,135 |
| Earnings per share | ||
| Basic earnings per share(RMB Yuan) | 1.06 | 0.87 |
| Diluted earnings per share(RMB Yuan) | 1.06 | 0.87 |
\*: Unaudited financial indexes
(3) CONSOLIDATED AND COMPANY CASH FLOW STATEMENTS FOR 1st JANUARY 2026 TO 30th SEPTEMBER 2026 (All amounts in RMB Yuan unless otherwise stated)
| Item | 2026.1.1-2026.9.30 Consolidated* | 2025.1.1-2025.9.30 Consolidated* |
| Cash flows generated from operating activities | ||
| Cash received from sales of goods or rendering of services | 31,486,549,060 | 28,285,096,504 |
| Refunds of taxes | 101,430,106 | - |
| Cash received relating to other operating activities | 237,694,693 | 365,842,336 |
| Sub-total of cash inflows | 31,825,673,859 | 28,650,938,840 |
| Cash paid for goods and services | 24,930,977,292 | 22,758,076,662 |
| Cash paid to and on behalf of employees | 2,189,580,748 | 2,144,384,139 |
| Payments of taxes and surcharges | 1,491,954,423 | 1,864,060,966 |
| Cash paid relating to other operating activities | 1,431,460,564 | 1,682,512,276 |
| Sub-total of cash outflows | 30,043,973,027 | 28,449,034,043 |
| Net cash flows generated from operating activities | 1,781,700,832 | 201,904,797 |
| Cash flows used in investing activities | ||
| Cash received from returns of investments | 2,429,010,300 | 55,000,000 |
| Cash received from disposal on investments | 8,347,616 | 264,648 |
| Net cash received from disposal of fixed assets, intangible assets and other long-term assets | 152,439,582 | 40,750,669 |
| Cash received relating to other investing activities | 112,020,968 | 118,320,297 |
| Sub-total of cash inflows | 2,701,818,466 | 214,335,614 |
| Cash paid to acquire fixed assets, intangible assets and other long-term assets | 815,718,517 | 814,672,096 |
| Cash paid to acquire investments | 2,400,000,000 | 55,000,000 |
| Cash paid relating to other investing activities | 321,873 | 533,226 |
| Sub-total of cash outflows | 3,216,040,390 | 870,205,322 |
| Net cash flows used in investing activities | -514,221,924 | -655,869,708 |
| Cash flows used in financing activities | ||
| Cash received from absorbing investments | 206,400,395 | - |
| Including: cash received by the subsidiary from absorbing minority shareholders' investment | 206,400,395 | - |
| Cash received from borrowings | 2,446,247,333 | 3,730,381,417 |
| Sub-total of cash inflows | 2,652,647,728 | 3,730,381,417 |
| Cash repayments of borrowings | 3,600,223,818 | 4,350,240,906 |
| Cash payments for distribution of dividends, profits or interest expenses | 474,251,290 | 617,395,698 |
| Cash paid relating to other financing activities | 21,508,504 | 190,177,199 |
| Sub-total of cash outflows | 4,095,983,612 | 5,157,813,803 |
| Net cash flows used in financing activities | -1,443,335,884 | -1,427,432,386 |
| Effect of foreign exchange rate changes on cash and cash equivalents | - | - |
| Net decrease in cash and cash equivalents | -175,856,976 | -1,881,397,297 |
| Add: Cash and cash equivalents at beginning of year | 13,491,154,200 | 12,475,176,009 |
| Cash and cash equivalents at end of period | 13,315,297,224 | 10,593,778,712 |
2. In 2026, the first implementation of the new accounting standards adjustment and the situation of first implementation of the financial statements at the beginning of the year related items □Applicable Not Applicable
3. Whether the 2026 Third quarter report is audited? □Yes No JMC 2026 Third Quarter Report is not audited.
Board of Directors
Jiangling Motors Corporation, Ltd.
October 23, 2026
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