The financial data of year 2013 disclosed herein are preliminary accounting data, and are subject to audit conducted by an accounting firm. The data herein might differ from final audited results; investors shall pay attention to the risk.
1. Major accounting data and financial ratios of year 2013
Item 2013 2012* Changes (%) Revenue 20,889,706 17,474,707 19.54 Operating Profit 1,717,858 1,677,826 2.39 Profit Before Income Tax 1,924,521 1,893,140 1.66 Profit Attributable to the Company’s Equity Holders 1,696,307 1,515,327 11.94 Earnings Per Share (RMB) 1.97 1.76 11.94 Weighted Average Return on Net Asset Ratio (%) 19.55 19.53 Up 0.02 percentage point Dec. 31, 2013 Dec. 31, 2012* Changes (%) Total Assets 16,484,699 13,112,376 25.72 Shareholders’ Equity Attributable to the Company’s Equity Holders 9,173,999 8,079,807 13.54 Share Capital (RMB) 863,214,000 863,214,000 0 Net Assets Per Share Attributable to the Company’s Equity Holders (RMB) 10.63 9.36 13.54
*Restated financial indexes. JMC has adopted IAS 19 'Employee benefits' on 1 January 2013. The revised employee benefit standard introduces changes to the recognition, measurement, presentation and disclosure of post-employment benefits. The changes on JMC's accounting policies has been as follows: actuarial gains and losses arising from experience adjustments and changes in actuarial assumptions are charged or credited to equity in other comprehensive income in the period in which they arise. Past-service costs are recognized immediately in income.
2. Operating Results
In 2013, JMC achieved a sales volume of 230,006 units, up 15% from last year, including 79,936 JMC-brand trucks, 67,733 JMC-brand pickups (including 8,985 Yuhu Pickups), 14,160 Yusheng-brand SUVs, 67,785 Ford-brand commercial vehicles and 392 heavy trucks.
Under IFRS, net profit in 2013 was RMB 1,696,307 thousand, up 11.94% from the same period last year, primarily reflecting income tax expense reduction generated from the different applicable tax rate of deductible deferred income tax assets accrual (25% vs. 15%) of JMC Sales Company established in the reporting period.
