苏常柴Ｂ：2021年第一季度报告（英文版）

CHANGCHAI COMPANY, LIMITED FIRST QUARTERLY REPORT 2021 (SUMMARY) Part I Important Notes The Board of Directors (or the “Board”), the Supervisory Committee as well as thedirectors, supervisors and senior management of Changchai Company, Limited (hereinafterreferred to as the “Company”) hereby guarantee the factuality, accuracy and completeness of All the Company’s directors have attended the Board meeting forthe review of this Shi Xinkun, the Company’s legal representative, Zhang Xin, the Company’s GeneralManager, and Jiang He, head of the Company’s financial department (equivalent to financial This Report and its summary have been prepared in both Chinese and English. Should Part II Key Corporate Information I Key Financial Information Indicate by tick mark whether there is any retrospectively restated datum in the table below. Reason for retrospective restatement: The Proposal on Correction of Previous Accounting Error was reviewed and approved on the 4th the 9thBoard of Directors held on 29 July 2020, and Changzhou Xingsheng Property Management Co., Ltd. whichwas not included in the scope of consolidated balance sheet before has been carried out accounting treatment in accordance to the stipulations of accounting standards. For details, see the Announcement on the Resolutions of Meeting of the 9thBoard of Directors (Announcement No.:2020-043), the Announcement on Correction of 2 Previous Accounting Error (Announcement No.:2020-045), and the Authentication Report of Special Instructionregarding Correction of Accounting Error from 2017 to 2019 disclosed on Securities Times, Ta Kung Pao and Explanatory Announcement No. 1 on Information Disclosure for Companies Offering Their Securities to the □ Applicable √ Not applicableNo such cases for the Reporting Period. II Total Number of Shareholders and Holdings of Top 10 Shareholders at 31 March 2021 1. Numbers of Ordinary Shareholders and Preferred Shareholders with Resumed Voting Rights as well as □ Yes √ No No such cases in the Reporting Period. 2. Number of Preferred Shareholders and Shareholdings of Top 10 of Them □ Applicable √ Not applicable Part III Significant Events I Changes in Key Financial Statement Line Items and Explanation of why √ Applicable □ Not applicable 1. Accounts receivable increased by RMB381,338,419.54, or 96.02%, as at 31 March 2021 compared to 31December 2020, primarily because the Company properly allowed customers’ buying on credit for more marketsin the current quarter and multi-cylinder diesel engine customers are mainly supporting companies of main 2. Other current assets decreased by RMB8,672,474.35, or 31.77%, as at 31 March 2021 compared to 31December 2020, primarily because excess VAT paid of the Company decreased. 3. Construction in progress increased by RMB56,104,226.82, or 84.36%, as at 31 March 2021 compared to 31December 2020, primarily driven by an increase in construction investment by wholly-owned subsidiary Jiangsu 4. Employee benefits payable decreased by RMB21,068,831.24, or 42.03%, as at 31 March 2021 compared to 31December 2020, mainly because accrued salary and bonus in last period was partially paid in this period. 5. Net profit attributable to owners of the Company as the parent went up by RMB23,166,962.21, or 1649.72%,during Q1 2021 compared to Q1 2020, primarily driven by an increase in sales revenue. 6. Net cash generated from operating activities went down by RMB203,474,326.11, during Q1 2021 compared toQ1 2020, primarily because accounts receivable increased, and procurement costs increased as sales expanded. 7. Net cash generated from investing activities went down by RMB62,758,435.88 during Q1 2021 compared toQ1 2020, primarily driven by an increase in construction investment by wholly-owned subsidiary Jiangsu II Progress, Influence and Solutions with regard to Significant Events √ Applicable □ Not applicable On 9 April 2020, the 24th meeting of the 8thboard of directors of the Company discussed and approved theNon-public Offering Plan of the Company for 2020. The Company intended to make non-public issuance of domestic common shares listed in RMB to specific objects, and this matter was approved by the controlling shareholder Changzhou Investment Group Co., Ltd. and was reviewed and adopted in the meeting of shareholdersof 2019. On 18 September 2020, the temporary meeting of the board of directors of the Company discussed andapproved the relevant revision matters concerning non-public issuance of shares, the Company supplemented andimproved the foresaid plan according to the relevant revision matters, and prepared the Non-public Offering Planof the Company for 2020 (Revision Version), which was discussed and approved in the second temporary meeting Progress of any share repurchase:□ Applicable √ Not applicable Progress of any reduction of the repurchased shares through centralized bidding:□ Applicable √ Not applicable III Commitments that the Company’s Actual Con