In the first half of the year, Jianghuai Automobile's new development expenditure was 154 million yuan, while the amount of development expenditure of listed companies in the same industry has been very small, and the company is suspected of excessive capitalization of R&D expenditures. The development expenditure at the end of the first half of the year reached 794 million yuan, an increase of 154 million yuan over the end of the previous year, accounting for 35.09% of the total expenditure of research and development projects during the period.

The reporter noted that since 2007, the company began to show development expenditures of 308 million yuan, which has since declined, and the amount has not been very high. However, at the end of 2012, the company’s development expenditure suddenly surged to 640 million yuan. The company said that it was mainly due to the continued investment in R&D in order to ensure sustained long-term healthy development during the reporting period.

According to the data, Jianghuai Automobile is an integrated automobile manufacturer integrating R&D, manufacturing, sales and service of commercial vehicles, passenger vehicles and powertrains. According to the data at the end of 2012, the company's main business is 88% from vehicle sales.

The correspondent learned that the domestic automobile listed companies' development expenditures this year have not been so large. For example, the development expenditures of Haima Motors (000572.SZ) and FAW Cars (000800.SH) in the first half of 2013 were only 45 million yuan respectively. , 77 million yuan.

The same as the automobile production company, only JAC's development expenditure increased by more than 100 million. The company is suspected of excessive capitalization of R&D expenses.

According to the report, the company's operating revenue for the first half of 2013 was 17.993 billion yuan, up 24.8% year-on-year; net profit was 527 million yuan, up 65.31% year-on-year.

If this new development expenditure of 154 million yuan is to be expensed, the company's performance will only increase by 16.9%, and the growth rate will decrease by 49%.

On the afternoon of September 11, JAC's stock price closed at 9.57 yuan, an increase of 4.13%.