Dongfeng Motor : 2018 Annual Results Annoucement

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DONGFENG MOTOR GROUP COMPANY LIMITED*

東風汽車集團股份有限公司

(a joint stock company incorporated in the People's Republic of China with limited liability)

(Stock Code: 489)

2018 ANNUAL RESULTS ANNOUNCEMENT

The Board of Directors (the "Board") of Dongfeng Motor Group Company Limited (the "Company") is pleased to announce the audited consolidated results of the Company and its subsidiaries (the "Group" or the "Dongfeng Motor Group") for the year ended 31 December 2018 together with the comparative figures in 2017.

In this announcement, unless otherwise specified, all references to business, including manufacture, research and development, outputs and sales volume, market share, investment, sales network, employee, motivation, social responsibility, corporate governance includes all relating to the Dongfeng Motor Group, subsidiaries, joint ventures and associates (including subsidiaries, joint ventures and associates of the Company in which the members of the Group have direct or indirect equity interests).

DONGFENG MOTOR GROUP COMPANY LIMITED

CONSOLIDATED INCOME STATEMENT

FOR THE YEAR ENDED 31 DECEMBER 2018

Notes

Revenue	3
Cost of sales
Gross profit
Other income	4
Selling and distribution expenses
Administrative expenses
Net impairment losses on financial assets	7
Other expenses
Finance expenses	6
Share of profits and losses of:
Joint ventures
Associates
PROFIT BEFORE INCOME TAX	5
Income tax expense	8
PROFIT FOR THE YEAR

Profit attributable to:

Equity holders of the Company

Non-controlling interests

Earnings per share attributable to ordinary

10

equity holders of the Company: Basic for the year

Diluted for the year

1

Year ended 31 December

2018	2017
RMB million		RMB million
		(Restated)
		(Note 2.2)
104,543	125,980
(91,128)		(109,716)
13,415	16,264
3,164	2,817
(6,342)	(7,460)
(4,506)	(4,610)
(1,006)	-
(5,683)	(6,425)
(265)	(592)
12,280	13,574
3,182		2,207
14,239	15,775
(1,661)		(1,148)
12,578		14,627
12,979	14,061
(401)		566
12,578		14,627

150.64 cents		163.20 cents
150.64 cents		163.20 cents

DONGFENG MOTOR GROUP COMPANY LIMITED

CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME

FOR THE YEAR ENDED 31 DECEMBER 2018
		Year ended 31 December
		2018	2017
		RMB million		RMB million
				(Restated)
				(Note 2.2)
PROFIT FOR THE YEAR		12,578	14,627
OTHER COMPREHENSIVE INCOME
Items that will not be reclassified subsequently
to profit or loss
Share of other comprehensive income of
investments accounted for using the equity
method		234	(70)
Remeasurements of post-employment benefit
obligations		(8)	119
Changes in the fair value of financial assets at fair
value through other comprehensive income		101		-
		327	49
Items that may be reclassified to profit or loss
Currency translation differences		80	659
Share of other comprehensive income of
investments accounted for using the equity
method		(144)		(252)
		(64)	407
Income tax effect
Item that will not be reclassified subsequently
to profit or loss		(18)	(26)
OTHER COMPREHENSIVE INCOME FOR
THE YEAR, NET OF TAX		245	430
TOTAL COMPREHENSIVE INCOME FOR
THE YEAR		12,823	15,057
Total comprehensive income attributable to:
Equity holders of the Company		13,222	14,446
Non-controlling interests		(399)		611
		12,823	15,057
2

DONGFENG MOTOR GROUP COMPANY LIMITED

CONSOLIDATED STATEMENT OF FINANCIAL POSITION

AS AT 31 DECEMBER 2018
		31 December
		2018	2017
	Notes	RMB million		RMB million
				(Restated)
				(Note 2.2)
ASSETS
Non-current assets
Property, plant and equipment		15,835	15,088
Investment properties		170	-
Lease prepayments		1,476	1,224
Intangible assets		4,809	4,237
Goodwill		1,816	1,763
Investments in joint ventures		44,647	39,858
Investments in associates		17,682	14,614
Available-for-sale financial assets		-	174
Financial assets at fair value through other
comprehensive income		219	-
Other non-current assets		21,726	18,269
Deferred income tax assets		2,376	2,532
Due from joint ventures		538		-
Total non-current assets		111,294	97,759
Current assets
Inventories		10,710	10,657
Trade receivables	11	7,582	6,354
Bills receivable		14,940	14,730
Prepayments, deposits and other receivables		39,602	26,760
Due from joint ventures		9,586	13,590
Financial assets at fair value through profit or loss		1,899	-
Pledged bank balances and time deposits		3,653	10,617
Cash and cash equivalents		27,251		33,441
Total current assets		115,223		116,149
TOTAL ASSETS		226,517		213,908

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DONGFENG MOTOR GROUP COMPANY LIMITED

CONSOLIDATED STATEMENT OF FINANCIAL POSITION (CONTINUED) AS AT 31 DECEMBER 2018

Notes

EQUITY AND LIABILITIES

Equity attributable to equity holders

of the Company Issued capital Reserves Retained profits

Non-controlling interests

TOTAL EQUITY

Non-current liabilities

Interest-bearing borrowings

Other long term liabilities

Government grants

Deferred income tax liabilities

Provisions

Total non-current liabilities

Current liabilities

Trade payables12 Bills payable

Other payables and accruals Contract liabilities

Due to joint ventures Interest-bearing borrowings Income tax payable Provisions

Total current liabilities

TOTAL LIABILITIES

TOTAL EQUITY AND LIABILITIES

31 December

2018	2017
RMB million	RMB million
	(Restated)
	(Note 2.2)

8,616	8,616
16,412	14,605
93,328		85,294
118,356	108,515
6,569		6,809
124,925	115,324
10,729	2,398
1,894	1,438
1,767	771
2,086	1,555
659		652
17,135		6,814
17,222	21,571
19,918	22,563
13,312	17,512
2,439	-
14,385	13,630
15,424	14,381
630	828
1,127		1,285
84,457		91,770
101,592		98,584
226,517		213,908

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