江铃B：XXXX年年度审计报告(英文版) XXXX-03-18

JIANGLINGMOTORSCORPORATION,LTD.CONSOLIDATEDFINANCIALSTATEMENTSANDREPORTOFTHEAUDITORS31DECEMBER2010普华永道中天会计师事务所有限公司11thFloorPricewaterhouseCoopersCenter2CorporateAvenue202HuBinRoadShanghai200021,P.R.C.Telephone[phone]Facsimile+86(21)23238800(the“Company”)anditssubsidiary(togetherthe“Group”)setoutonpages3to56,whichcomprisetheconsolidatedstatementoffinancialpositionasat31December2010,andtheconsolidatedstatementofcomprehensiveincome,theconsolidatedstatementofchangesinequityandtheconsolidatedstatementofcashflowsfortheyearthenended,andasummaryofsignificantaccountingpoliciesandotherexplanatoryinformation.Management’sresponsibilityfortheConsolidatedFinancialStatementsThemanagementoftheCompanyisresponsibleforthepreparationandfairpresentationofconsolidatedfinancialstatementsinaccordancewithInternationalFinancialReportingStandards,andforsuchinternalcontrolasmanagementdeterminesisnecessarytoenablethepreparationofconsolidatedfinancialstatementsthatarefreefrommaterialmisstatement,whetherduetofraudorerror.Auditor’sresponsibilityOurresponsibilityistoexpressanopinionontheseconsolidatedfinancialstatementsbasedonouraudit.WeconductedourauditinaccordancewithInternationalStandardsonAuditing.Thosestandardsrequirethatwecomplywithethicalrequirementsandplanandperformtheaudittoobtainreasonableassuranceaboutwhethertheconsolidatedfinancialstatementsarefreefrommaterialmisstatement.Anauditinvolvesperformingprocedurestoobtainauditevidenceabouttheamountsanddisclosuresintheconsolidatedfinancialstatements.Theproceduresselecteddependontheauditor‟sjudgment,includingtheassessmentoftherisksofmaterialmisstatementoftheconsolidatedfinancialstatements,whetherduetofraudorerror.Inmakingthoseriskassessments,theauditorconsidersinternalcontrolrelevanttotheentity‟spreparationandfairpresentationofconsolidatedfinancialstatementsinordertodesignauditproceduresthatareappropriateinthecircumstances,butnotforthepurposeofexpressinganopinionontheeffectivenessoftheentity‟sinternalcontrol.Anauditalsoincludesevaluatingtheappropriatenessofaccountingpoliciesusedandthereasonablenessofaccountingestimatesmadebymanagement,aswellasevaluatingtheoverallpresentationoftheconsolidatedfinancialstatements.Webelievethattheauditevidencewehaveobtainedissufficientandappropriatetoprovideabasisforourauditopinion.OpinionInouropinion,theconsolidatedfinancialstatementspresentfairly,inallmaterialrespects,thefinancialpositionoftheGroupasat31December2010,andoftheGroup‟sfinancialperformanceandcashflowsfortheyearthenendedinaccordancewithInternationalFinancialReportingStandards.PricewaterhouseCoopersZhongTianCPAsLimitedCompanyShanghai,thePeople‟sRepublicofChina16March2011-3-JIANGLINGMOTORSCORPORATION,LTD.CONSOLIDATEDSTATEMENTOFFINANCIALPOSITIONASAT31DECEMBER2010(AllamountsinRMBunlessotherwisestated)Asat31DecemberNote20102009RMB‟000RMB‟000ASSETSNon-currentassetsProperty,plantandequipment52,630,5242,491,159Leaseprepayment6277,870284,393Intangibleassets731,30231,856Investmentsinassociate817,92817,292Deferredincometaxassets9205,063134,1333,162,6872,958,833CurrentassetsInventories101,436,4921,059,798Tradeandotherreceivables11825,374361,892Cashandcashequivalents125,813,1623,913,8238,075,0285,335,513Totalassets11,237,7158,294,346EQUITYCapitalandreservesattributabletotheCompany’sequityholdersSharecapital13863,214863,214Sharepremium816,609816,609Otherreserves14457,650457,650Retainedearnings3,989,8032,706,4746,127,2764,843,947Non-controllinginterests115,319102,906Totalequity6,242,5954,946,853LIABILITIESNon-currentliabilitiesBorrowings156,9397,601Retirementbenefitobligations1654,56970,475Warrantyprovisions17171,789122,361233,297200,437CurrentliabilitiesTradeandotherpayables184,628,4213,079,345Currentincometaxliabilities96,31028,716Borrowings1525,00425,447Retirementbenefitobligations1612,08813,5484,761,8233,147,056Totalliabilities4,995,1203,347,493Totalequityandliabilities11,237,7158,294,346Thenotesonpages7to56areanintegralpartoftheseconsolidatedfinancialstatements.-4-JIANGLINGMOTORSCORPORATION,LTD.CONSOLIDATEDSTATEMENTOFCOMPREHENSIVEINCOMEFORTHEYEARENDED31DECEMBER2010(AllamountsinRMBunlessotherwisestated)Yearended31DecemberNote20102009RMB‟000RMB‟000Revenue1915,767,89710,433,205Salestax(287,283)(180,523)Costofsales20(11,696,388)(7,706,608)Grossprofit3,784,2262,546,074Distributioncosts20(1,019,046)(770,236)Administrativeexpenses20(830,366)(601,360)Other(expense)/income(8,052)6,925Operatingprofit1,926,7621,181,403Financeincome2294,70555,635Financecosts22(2,279)(3,648)Financeincome-net2292,42651,987Shareofprofitofassociates87,1095,450Profitbeforeincometax2,026,2971,238,840Incometaxexpense23(286,361)(163,492)Profitfortheyear1,739,9361,075,348Profitattributableto:EquityholdersoftheCompany1,706,3041,052,529Non-controllinginterests33,63222,8191,739,9361,075,348Othercomprehensiveincome--Totalcomprehensiveincomefortheyear1,73