深圳市特力(集团)股份有限公司SHENZHENTELLUSHOLDINGCO.,LTD
AnnualReport2020
April2021
Content
SectionIImportantNotice,ContentsandInterpretation ...... 1
SectionIICompanyProfileandMainFinancialIndexes ...... 4
SectionIIISummaryofCompanyBusiness ...... 8
SectionIVDiscussionandAnalysisofOperation ...... 12
SectionVImportantEvents ...... 29
SectionVIChangesinsharesandparticularaboutshareholders ...... 40
SectionVIIPreferredStock ...... 46SectionVIIIConvertibleBond............................................................................................................SectionIXParticularsaboutDirectors,Supervisors,SeniorExecutivesandEmployees ...... 47
SectionXCorporateGovernance ...... 55
SectionXICorporateBond ...... 63
SectionXIIFinancialReport ...... 64
SectionXIIIDocumentsavailableforreference ...... 93
SectionI.ImportantNotice,ContentandInterpretation
BoardofDirectors,SupervisoryCommittee,alldirectors,supervisorsandseniorexecutivesofShenzhenTellusHoldingCo.,Ltd.(hereinafterreferredtoastheCompany)herebyconfirmthattherearenoanyfictitiousstatements,misleadingstatements,orimportantomissionscarriedinthisreport,andshalltakeallresponsibilities,individualand/orjoint,forthereality,accuracyandcompletionofthewholecontents.FuChunlong,PrincipaloftheCompany,LouHong,personinchargeofaccountingworksandLiaoZebin,personinchargeofaccountingorgan(accountingprincipal)herebyconfirmthattheFinancialReportofAnnualReport2020isauthentic,accurateandcomplete.AlldirectorsareattendedtheBoardMeetingforreportdeliberation.SecuritiesTimes,HongKongCommercialDailyandJuchaoWebsite(www.cninfo.com.cn)arethemediaforinformationdisclosureappointedbytheCompany,allinformationunderthenameoftheCompanydisclosedontheabovesaidmediashallprevail.Concerningtheforward-lookingstatementswithfutureplanninginvolvedintheReport,theydonotconstituteasubstantialcommitmentforinvestors,andinvestorsareadvisedtoexercisecautionofinvestmentrisks.Theprofitdistributionpre-plandeliberatedandapprovedbytheBoardwas:
basedonatotalsharecapitalof431,058,320asat31December2020,distributed
0.20Yuan(taxincluded)forevery10sharesheldbywholeshareholdersoftheCompany,nobonussharesandnopublicreservetransferintosharecapital.
Interpretation
| Items | Refersto | Contents |
| CSRC | Refersto | ChinaSecuritiesRegulatoryCommission |
| SZExchange | Refersto | ShenzhenStockExchange |
| ShenzhenBranchofSD&C | Refersto | ShenzhenBranchofChinaSecuritiesDepository&ClearingCorporationLimited |
| Company,theCompany,ourCompany,TellusGroup | Refersto | ShenzhenTellusHoldingCo.,Ltd. |
| Reportingperiod,thisreportingperiod,theyear | Refersto | Yearof2020 |
| AutoIndustryandTradeCompany | Refersto | ShenzhenAutoIndustryandTradeCorporation |
| ZhongtianCompany | Refersto | ShenzhenZhongtianIndustrialCo,.Ltd. |
| GAC | Refersto | Gems&JewelryTradeAssociationofChina |
| HuariCompany | Refersto | ShenzhenHuariToyotaAutoSalesCo.,Ltd,ShenzhenSDGHuariAutoEnterpriseCo.,Ltd. |
| ZungFuTellus | Refersto | ShenzhenZungFuTellusAutoServiceCo.,Ltd. |
| TellusStarlight | Refersto | AnhuiTellusStarlightJewelryInvestmentCo.,Ltd. |
| TellusStarlightJinzun | Refersto | AnhuiTellusStarlightJinzunJewelryCo.,Ltd. |
| SichuanChannelPlatformCompany,SichuanJewelryCompany | Refersto | SichuanTellusJewelryTech.Co.,Ltd. |
| XinglongCompany | Refersto | ShenzhenXinglongMachineryMouldCo.,Ltd. |
| TellusProperty | Refersto | ShenzhenSDGTellusPropertyManagementCo.,Ltd. |
| SDG | Refersto | ShenzhenSpecialDevelopmentGroupCo.,Ltd. |
| TellusTreasureCompany | Refersto | ShenzhenTellusTreasureSupplyChainTech.Co.,Ltd. |
| DongfengCompany | Refersto | ShenzhenDongfengMotorCo.,Ltd. |
| ShenzhenJewelryCompany | Refersto | ShenzhenJewelryIndustryServiceCo.,LTD |
SectionIICompanyProfileandMainFinancialIndexesI.Companyinformation
| Shortformofthestock | Tellus-A,Tellus-B | Stockcode | 000025,200025 |
| Stockexchangeforlisting | ShenzhenStockExchange | ||
| NameoftheCompany(inChinese) | 深圳市特力(集团)股份有限公司 | ||
| ShortformoftheCompany(inChinese) | 特力A | ||
| ForeignnameoftheCompany(ifapplicable) | ShenzhenTellusHoldingCo.,Ltd | ||
| Legalrepresentative | FuChunlong | ||
| Registrationsadd. | 3/F,TellusBuilding,No.56ShuiBeiErRoad,LuohuDistrict,Shenzhen | ||
| Codeforregistrationsadd | 518020 | ||
| Officesadd. | 3/F-4/F,TellusBuilding,ShuiBeiErRoad,LuohuDistrict,Shenzhen | ||
| Codesforofficeadd. | 518020 | ||
| Company’sInternetWebSite | www.tellus.cn | ||
| ir@tellus.cn | |||
II.Person/Waytocontact
| SecretaryoftheBoard | Rep.ofsecurityaffairs | |
| Name | QiPeng | LiuMenglei |
| Contactadd. | 3/F,TellusBuilding,ShuiBeiErRoad,LuohuDistrict,Shenzhen | 3/F,TellusBuilding,ShuiBeiErRoad,LuohuDistrict,Shenzhen |
| Tel. | (0755)83989390 | (0755)88394183 |
| Fax. | (0755)83989386 | (0755)83989386 |
| ir@tellus.cn | liuml@tellus.cn |
III.Informationdisclosureandpreparationplace
| Newspaperappointedforinformationdisclosure | SecuritiesTimes(Shenzhen)andHongKongCommercialDaily(H.K.) |
| WebsiteforannualreportpublishappointedbyCSRC | http://www.cninfo.com.cn |
| Preparationplaceforannualreport | SecretariatoftheBODofShenzhenTellusHoldingCo.,Ltd. |
IV.RegistrationchangesoftheCompany
| Organizationcode | 91440300192192210U |
| Changesofmainbusinesssincelisting(ifapplicable) | Nochangesduringtheperiod |
| Previouschangesforcontrollingshareholders(ifapplicable) | 1.On31March1997,the159,588,000statesharesheldbyShenzhenInvestmentManagementCo.,Ltd.,theonlynon-circulationshareholder,weretransfertoShenzhenSpecialDevelopmentGroupCo.,Ltd.;totalsharecapitaloftheCompanywas220,281,600shareswhile159,588,000statesharesheldbySDG,a72.45%intotalsharecapital.2.On4January2006,the13,717,440shares,astheconsiderationofsharemergerreform,weretransfertoaccountofA-shareholdersfromSDG.Aftersharemergerreform,SDGholds66.22%ofthetotalsharecapitaloftheCompany.3.OnMarch27,2015,theCompanyhascompletedthenon-publicofferingofAsharesof77,000,000,ofwhich6,000,000sharesareissuedtothecontrollingshareholder-SDG,andSDGholds51.09%oftheCompany'stotalsharesaftertheissuance.4.In2016,SDGreducedpartofthecompany’sunrestrictedoutstandingsharesbymeansofcentralizedbidding,theaccumulatedreductionofshareholdingsaccountedfor2%ofthecompany’stotalsharecapital.Asoftheendofthereportingperiod,SDGholds49.09%oftheCompany’stotalshares,andisstillthecontrollingshareholderoftheCompany. |
V.Otherrelevantinformation
CPAengagedbytheCompany
| NameofCPA | RSMCertifiedPublicAccountants(SpecialGeneralPartnership) |
| Officesadd.forCPA | Suite901-22to901-26,No.22FuchengmenWaiStreet,WaiJingMaoBuilding,XinchengDisctrict,Beijing,China |
| SigningAccountants | LiQiaoyi,QinChangming |
SponsorengagedbytheCompanyforperformingcontinuoussupervisiondutiesinreportingperiod
□Applicable√NotapplicableFinancialconsultantengagedbytheCompanyforperformingcontinuoussupervisiondutiesinreportingperiod
□Applicable√NotapplicableVI.Mainaccountingdataandfinancialindexes
Whetherithasretroactiveadjustmentorre-statementonpreviousaccountingdataornot
□Yes√No
| 2020 | 2019 | Changesoverlast | 2018 |
| year(+,-) | ||||
| Operatingincome(RMB) | 424,419,203.34 | 571,072,893.90 | -25.68% | 414,238,778.96 |
| NetprofitattributabletoshareholdersofthelistedCompany(RMB) | 57,663,828.89 | 219,669,708.47 | -73.75% | 86,924,058.72 |
| NetprofitattributabletoshareholdersofthelistedCompanyafterdeductingnon-recurringgainsandlosses(RMB) | 47,719,889.72 | 53,738,507.05 | -11.20% | 83,286,083.84 |
| Netcashflowarisingfromoperatingactivities(RMB) | 109,105,302.88 | 78,911,353.03 | 38.26% | -6,574,979.97 |
| Basicearningspershare(RMB/Share) | 0.1338 | 0.5096 | -73.74% | 0.2017 |
| Dilutedearningspershare(RMB/Share) | 0.1338 | 0.5096 | -73.74% | 0.2017 |
| WeightedaverageROE | 4.48% | 18.92% | -14.44% | 8.63% |
| Year-endof2020 | Year-endof2019 | Changesoverendoflastyear(+,-) | Year-endof2018 | |
| Totalassets(RMB) | 1,708,442,301.15 | 1,645,782,144.03 | 3.81% | 1,658,295,531.00 |
| NetassetsattributabletoshareholderoflistedCompany(RMB) | 1,310,524,675.47 | 1,270,965,296.02 | 3.11% | 1,050,209,537.35 |
TotalsharecapitaloftheCompanyasoftheprevioustradingdaybeforedisclosure:
| TotalsharecapitaloftheCompanyasoftheprevioustradingdaybeforedisclosure(Share) | 431,058,320 |
Fullydilutedearningspersharebasedonnewsharecapital
| Preferredstockdividendpaid | 0.00 |
| Fullydilutedearningspersharebasedonnewsharecapital(RMB/Share) | 0.1338 |
VII.DifferenceoftheaccountingdataunderaccountingrulesinandoutofChina
1.Differenceofthenetprofitandnetassetsdisclosedinfinancialreport,underbothIAS(InternationalAccountingStandards)andChineseGAAP(GenerallyAcceptedAccountingPrinciples)
□Applicable√NotapplicableTheCompanyhadnodifferenceofthenetprofitornetassetsdisclosedinfinancialreport,undereitherIAS(InternationalAccountingStandards)orChineseGAAP(GenerallyAcceptedAccountingPrinciples)intheperiod.
2.Differenceofthenetprofitandnetassetsdisclosedinfinancialreport,underbothforeignaccountingrulesandChineseGAAP(GenerallyAcceptedAccountingPrinciples)
□Applicable√NotapplicableTheCompanyhadnodifferenceofthenetprofitornetassetsdisclosedinfinancialreport,undereitherforeignaccountingrulesorChineseGAAP(GenerallyAcceptedAccountingPrinciples)intheperiod.
3.Reasonsfordifferencesinaccountingdataunderdomesticandforeignaccountingstandards
□Applicable√Notapplicable
VIII.Quarterlymainfinancialindex
InRMB
| Q1 | Q2 | Q3 | Q4 | |
| Operatingincome | 85,520,408.64 | 111,531,381.65 | 96,868,200.81 | 130,499,212.24 |
| NetprofitattributabletoshareholdersofthelistedCompany | 5,209,071.29 | 20,385,914.49 | 14,042,886.48 | 18,025,956.63 |
| NetprofitattributabletoshareholdersofthelistedCompanyafterdeductingnon-recurringgainsandlosses | 2,618,160.47 | 18,784,660.36 | 12,592,060.82 | 13,725,008.07 |
| Netcashflowarisingfromoperatingactivities | 6,507,973.24 | 10,798,348.96 | 96,198,322.43 | -4,399,341.75 |
Whethertherearesignificantdifferencesbetweentheabove-mentionedfinancialindexoritstotalnumberandtherelevantfinancialindexdisclosedintheCompany’squarterlyreportandsemi-annualreport
□Yes√No
IX.Itemsandamountsofnon-recurringprofit(gain)/loss
√Applicable□Notapplicable
InRMB
| Item | 2020 | 2019 | 2018 | Note |
| Gains/lossesfromthedisposalofnon-currentasset(includingthewrite-offthataccruedforimpairmentofassets) | 1.00 | 210,897,055.76 | -4,424,801.74 | |
| Taxrefund,breaksapprovedbeyondtheauthorityorwithoutofficialapprovaldocuments | ||||
| Governmentalsubsidyreckonedinto | 1,522,079.42 | 276,907.09 | 3,482.07 | Subsidyfromthe |
| currentgains/losses(notincludingthesubsidyenjoyedinquotaorrationaccordingtonationalstandards,whicharecloselyrelevanttoenterprise’sbusiness) | government’sbusiness-friendlypolicies | |||
| Fundpossessioncostreckonedintocurrentgains/losseschargedfromnon-financialbusiness | 435,887.15 | 47,083.32 | 76,041.64 | InterestofthedividendreceivablefromDongfengCompany |
| Whenanenterpriseacquiresasubsidiary,associatedenterpriseandjointventure,theinvestmentcostislessthantheincomegeneratedbythefairvalueoftheidentifiablenetassetsoftheinvestedentity | ||||
| Gains/lossesfromexchangeofnon-monetaryassets | ||||
| Gains/lossesfromentrustinvestmentorassetsmanagement | 9,611,577.38 | |||
| Impairmentprovisionforallassetsduetoforcemajeure,suchasnaturaldisasters | ||||
| Gains/lossesofdebtrestructuring | ||||
| Enterpriserestructuringcosts,suchasthestaffplacementexpensesandintegrationcostsetc. | ||||
| Gains/lossesarisingfromthetransactionwhosetransactionpriceisclearlyunfairexceedthefairvalue | ||||
| Currentnetgains/lossesofthesubsidiaryfrombeginningoftheperiodtothedateofmergerarisingfromthecombinationunderthesamecontrol | ||||
| Gains/lossesarisingfromthecontingenciesunrelatedtothenormaloperationoftheCompany | -2,225,468.76 | |||
| ExceptforeffectivehedgebusinessrelevanttonormaloperationoftheCompany,gainsandlossesarisingfromfairvaluechangeoftradablefinancialassets,derivativefinancialliabilities,tradablefinancialliabilityandderivativefinancialliabilityandinvestmentincomefromdisposaloftradablefinancialassets, | 8,812,468.26 | 10,684,691.16 | Financialreturns |
| derivativefinancialliabilities,tradablefinancialliability,derivativefinancialliabilityandotherdebtinvestment | ||||
| Restoringofreceivableaandcontractualassetsimpairmentprovisionthattestedindividually | 493,295.33 | 935,476.72 | ||
| Gains/lossesobtainedfromexternalentrustedloans | ||||
| Gains/lossesarisingfromchangeofthefairvalueofinvestmentrealestate,whichissubsequentlymeasuredusingthefairvaluemodel | ||||
| Impactoncurrentgains/losseswhileaone-timeadjustmenttothecurrentgains/losses,inaccordancewiththerequirementoflawsoftaxationandaccountingandregulations. | ||||
| Incomeofcustodyfeefromentrustedoperations | ||||
| Othernon-operatingincomeandexpenditureexceptfortheaforementioneditems | 3,196,406.42 | -744,465.10 | 485,180.13 | MainlythereversalofaccrualliabilityfromGuangmingWatch |
| Othergain/lossthatmeetthedefinitionofnon-recurringgain/loss | 44,839.26 | 9,378.94 | Taxrefunds |
| Less:Impactonincometax | 3,123,780.55 | 55,755,620.55 | -161,206.61 | |
| Impactonminorityshareholders’equity(post-tax) | 1,437,257.12 | 419,305.92 | 49,242.45 | |
| Total | 9,943,939.17 | 165,931,201.42 | 3,637,974.88 | -- |
Concerningtheextraordinaryprofit(gain)/lossdefinedbyQ&AAnnouncementNo.1onInformationDisclosureforCompaniesOfferingTheirSecuritiestothePublic---ExtraordinaryProfit/loss,andtheitemsdefinedasrecurringprofit(gain)/lossaccordingtothelistsofextraordinaryprofit(gain)/lossinQ&AAnnouncementNo.1onInformationDisclosureforCompaniesOfferingTheirSecuritiestothePublic---ExtraordinaryProfit/loss,explainreasons
□Applicable√NotapplicableInreportingperiod,theCompanyhasnoparticularaboutitemsdefinedasrecurringprofit(gain)/lossaccordingtothelistsofextraordinaryprofit(gain)/lossinQ&AAnnouncementNo.1onInformationDisclosureforCompaniesOfferingTheirSecuritiestothePublic---ExtraordinaryProfit/loss
SectionIII.SummaryofCompanyBusiness
I.MainbusinessesoftheCompanyinthereportingperiod
ThemainbusinessoftheCompanyduringthereportingperiodwasautosales,autotesting,maintenanceandaccessoriessales;resourceassetsmanagementandjewelryservicebusiness.(i)Automobilesales,testing,maintenanceandpartssales:Duringthereportingperiod,thecompanyincreasedrevenueandimprovedefficiencythroughmeasuressuchasstrengtheningthemanagementofholdingcompanies,improvingservicequality,adjustinghigh-endvehiclesalesstrategies,andstrengtheningcustomermaintenancemanagement,andHuariCompany’stotalprofitsexceeded10millionforthefirsttimeinrecentyears,anditsrevenueandprofithitrecordhighsinrecentyears.Inthewholeyear,thesalesrevenueofautomobileswas204.93millionyuan,anincreaseof21.58%overthesameperiodlastyear.(ii)Resourceassetmanagement:Duringthereportingperiod,duetothesevereimpactoftheepidemic,thecomplexeconomicsituationandotherunfavorablefactors,theentireShenzhenmarketwasfacinggreaterdownwardpressureonleasingprices,especiallyduetotheimpactoftheepidemic,theburdenofjewelleryindustryoperatorshasincreased,plusthenewly-developedpropertiesintheShuibeiareahavebeencontinuouslyputintouse,andtheinvestmentofthepropertiesheldbythecompanyintheareawasfacingseverechallenges.Inthefaceofunfavorablesituations,thecompanyinnovatedoperations,withthehelpofcommercialmanagementandoperationexperts,perfectedthesystemandprocedures,intensifiedpublicityandpromotion,andtookmultiplemeasurestoincreasetherentalrateofproperties.Inaddition,continuouslyoptimizedtheoperationandcontrolmodel,promotedtheconstructionof421TellusHomeExperienceHallthroughre-planning,fastpromotion,finemanagement,andpublicity,enhancedtheimageandvalueofoldproperties,exploredthecompany'sbusinesslayout,improvedthelevelofresourceassetmanagement,andbuiltabenchmarkforthetransformationandupgradingoftraditionalproperties.Inthewholeyear,propertyrentalandserviceincomewas141.28millionyuan,adecreaseof12.35%fromthesameperiodlastyear.ThemainreasonwasthatinresponsetotheCOVID-19epidemic,thecompanyfulfilleditssocialresponsibilitiesandwaivedsomepropertyrents.(iii)Jewelryservicebusiness:In2020,theepidemicsweepingathomeandabroadhascausedasharpincreaseindownwardpressureontheeconomy.Thejewelryindustry,asanoptionalconsumption,hasbeenseverelyimpacted.Upstreamjewellerymerchantshavesloweddowntheflowoffundsduetoreducedcustomerpurchasesandtheprofitsdeclined,whilethejewelryterminaloperatorshavespeededupmeasuressuchasclosingstorestostoplosses.Duringthereportingperiod,inthefaceoftheunfavorablemarketenvironment,thecompanyconcentricallypushedforwardthethird-partystrategyofrealizingjewellery,andbuiltathird-partyjewelleryecosystemrelyingonthephysicalplatform.ThejewelryindustrycompanywasestablishedinJuly.AttheendofSeptember,thephaseIprojectoftheTreasurySupplyChainCompanyofficiallyopened.InOctober,thelaunchceremonyofthecustomsjewelleryandjadebondedsupervisionreformpilotprogramwasheld.Thecompany
continuedtoinnovatethethird-partybusinessmodelofjewelry,activelyplannedanddeployedtheindustrysector,andhastakenanewstepinthethird-partyjewelrystrategy.Theannualrevenueofjewelrybusinesswas34.86millionyuan,adecreaseof81.98%comparedwiththesameperiodlastyear.Themainconsiderationwasthecompany'sstrategiclayout,combinedwithresourceallocation,managementcosts,coordinateddevelopmentandotherissues,theholdingsubsidiarySichuanTellusJewelryTech.Co.,Ltd.wascloseddownandliquidated.
II.Majorchangesinmainassets
1.Majorchangesinmainassets
| Majorassets | Noteofmajorchanges |
| Equityassets | Bookvalueoflong-termequityinvestmentasof31December2020amountingto123,641,000Yuan,decreased38,537,600Yuanoverthatofperiodbeginningwith23.76%down,mainlyduetotheprofitbonusfromshareholdingenterprise. |
| Fixedassets | Bookvalueoffixedassetsasof31December2020amountingto119,136,900Yuan,increased12,017,100Yuanoverthatofperiodbeginningwith11.22%up,mainlyduetothenewsafedepositboxtransfer-intoTreasureSupplyChainCompany. |
| Intangibleassets | Nomajorchange |
| Constructioninprogress | Bookvalueoftheconstructioninprogressasof31December2020amountingto101,740,500Yuan,anincreaseof54,086,100Yuanoverthatofperiod-beginwith113.50%up.MainlyduetotheinputforthepreliminaryprojectofTellusJinzhuanTradingBuilding(PhaseIIofTellusShuibeiJewelryBuilding). |
| Monetaryfund | Bookvalueofmonetaryfundasof31December2020amountingto237,625,700Yuan,decreased191,225,900Yuanoverthatofperiodbeginningwith44.59%down,mainlyduetothepaymentofequitytransferofXinglongCompany,theenterpriseincometax,distributionofcashdividendandpurchasingthefinancialproducts. |
| Tradablefinancialassets | Bookvalueofthetradablefinancialassetsasof31December2020amountingto314,013,900Yuan,anincreaseof253,527,300Yuanoverthatofperiod-beginwith419.15%up.Mainlyduetotheunmaturedfinancialproductspurchased. |
| Accountreceivable | Bookvalueofaccountreceivableasof31December2020amountingto19,828,500Yuan,decreased92,784,700Yuanoverthatofperiodbeginningwith82.39%down,mainlybecauseoperationfromSichuanJewelryCompanyceasedduringtheyearandtheopeningaccountreceivablewerefullyrecovered. |
| Otheraccountreceivable | Bookvalueofotheraccountreceivableasof31December2020amountingto29,269,800Yuan,decreased15,638,800Yuanoverthatofperiodbeginningwith34.82%down,mainlyduetotherecoveryofpartdividendsreceivablefromparticipatingenterprise-DongfengCompanyforpreviousyears. |
| Othercurrentassets | Bookvalueofothercurrentassetsasof31December2020amountingto6,000,600Yuan,anincreaseof2,596,600Yuanoverthatofperiod-beginwith76.28%up.MainlyduetotheincreaseinamountofinputVATtobededucted. |
| Long-termamortizedexpenses | Bookvalueoflong-termamortizedexpensesasof31December2020amountingto30,714,900Yuan,anincreaseof17,108,100Yuanoverthatofperiod-beginwith125.73%up.Mainlyduetothetransfer-infromdecorationofTreasureSupplyChainCompany,ShenzhenJewelryCompanyandTellusBuilding. |
| Othernon-currentassets | Bookvalueofothernon-currentassetsasof31December2020amountingto55,993,500Yuan,anincreaseof49,104,300Yuanoverthatofperiod-beginwith712.78%up.Mainlyduetothepaymentforbundledconstructionfundsforpublicfacilitiesoflots02and03oftheGoldJewelleryIndustrialParkUpgradeproject |
2.Mainoverseasassets
□Applicable√Notapplicable
III.CoreCompetitivenessAnalysis
(i)Deeplycultivatethejewelryindustry,givefullplaytotheadvantagesofidentity,andbuildanindustrialplatformThecompanyhascontinuedtotrytoinnovatebusinessmodelsandsteadilypromotetheimplementationoftransformationprojects,givefullplaytothecreditadvantagesofstate-ownedlistedcompaniesandthephysicalplatformresourcesintheShuibeiareawherethejewelryindustrygathers,deeplypenetrateintotheindustrychainofjewelryindustry,andrapidlyincreasethereputationandindustryinfluenceofTellusinthejewelryindustry,acceleratetheimplementationofTellus’strategicprojects,andrealizeTellus’sgoalofstrategictransformationintoathird-partyintegratedoperationserviceproviderforthejewelryindustry.ShenzhenTellusTreasureSupplyChainTech.Co.,Ltd.wasestablishedin2019tocarryoutjewelrysupplychainbusiness,consolidatethird-partyjewelryservices,andcreateathird-partyvalue-addedserviceplatformforthejewelryindustrythatintegratespreciousmetalstorage,goldanddiamondsupplychainservicesandthird-partysafedepositboxes.ShenzhenJewelryIndustryServiceCo.,LTDwasestablishedin2020toprovidebondeddisplay,bondedwarehousing,customsdeclaration,logistics,settlementandotherservices,andfinallyitwillbebuiltintoacomprehensiveelementtradingserviceplatformwithinternationalinfluenceintegratingjewelryanddiamondrawmaterialsandfinishedproductsdisplay,spottrading,testing,identification,design,processing,e-commerce,financialservices,andinsurance.(ii)AbundantpropertyresourcesprovidestablebusinessincomeandfinancialsupportThecompanyisthelargestowneroftheTellusGmanGoldJewelryIndustrialParkintheShuibeiarea,TellusShuibeiJewelryBuildinghasbeenfullyputintouse,andtheconstructionprojectoftheTellusJinzhuanTradingBuildingisprogressingasplanned.Atthesametime,asthelargestownerofthe04and05plotsintheurbanrenewalunitplanningprojectofBuxinIndustrialZone,thecompanywillplanandconstructinnovativeindustrialprojectsinBuxinareathatconformtotheoverallstrategiclayoutofthecity,districtandtheCompanythroughrenovation.ThecompanywillmaintainitspositionasthelargestownerofShuibeiandBuxinareas,andgrasptheadvantagesofphysicalplatformresourcesinthecoreareaofthejewelryindustry.Inaddition,theCompanyhasalargeamountofpropertyresourcesinvariousdistrictsinShenzhen,onthebasisofmaintainingthestabilityofthe
originalleasingbusiness,thecompanywillactivelypromotetheimprovementofpropertyqualityandtransformitsoldpropertiesfromthetraditionalmethodofsimpleleasingtothedirectionofpropertyassetoperation,soastofullyenhanceandtaptheaddedvalueofthepropertybrand,bringstablebusinessincomeandcashflowtothecompany,andprovideasolidfoundationforthecompany'slong-termdevelopment.
SectionIVDiscussionandAnalysisoftheOperationI.Introduction
Duringthereportingperiod,underthecorrectleadershipofthepartycommitteeandtheboardofdirectors,andwiththejointeffortsofallstaff,thecompanyupheldthespiritof"fair,diligent,hardworking,andpractical",andsteadilypromotedtheimplementationofvariousprojectstoensurethesmoothimplementationofthestrategy,andallworkhasachievedremarkableresults.
(1)Thethird-partyserviceplatformforjewelleryhasreachedanewlevel:ShenzhenJewelryIndustryServiceCo.,LTD.wasestablishedinJuly,andthelaunchceremonyofthecustomsjewelleryandjadebondedsupervisionreformpilotprogramwasheldonOctober21,whichpromotedtheinnovativedevelopmentofjewellerybusiness.
(2)TheopeningoftheTreasurySupplyChainCompany:ThephaseIprojectofTreasurySupplyChainCompanyofficiallyopenedattheendofSeptember,becominganewstartingpointforthecompany'sstrategictransformationandbusinessexpansion.
(3)Qualitativeimprovementofcommercialoperationandmanagementcapabilities:TellusJewelryBuildingstrivestobuildabenchmarkfortheindustrialpark,demonstratestheresponsibilityofstate-ownedenterprises,andsuccessfullyappliesforthefirstnationalthree-stargreenbuildinginLuohuDistrict,whichisthemostdifficulttoreviewandhasthehighestlevelofgreenbuildinggradeinChinagreenbuilding.Asoftheendofthereportingperiod,theoccupancyrateofTowerAandTowerBwas100%,thehighestinthepark.
(4)TellusHomeExperienceHallcreatesabenchmarkforthetransformationandupgradingoftraditionalproperties:The421projectsopenedasscheduled,increasedrevenue,openedupnewbusinesses,andmasteredthemarketinitiative.
(5)Withthehelpofgovernmentpoliciesintheautomotiveaftermarketbusiness,revenueandprofitshitrecordhighsinrecentyears.
(6)TellusJinzhuanTradingBuildingproject:Overcometheimpactoftheepidemicandgoallouttoensuretheconstructionperiod.Duringthereportingperiod,theCompanyachievedanoperatingincomeof424.42millionyuan,decreasedby
146.65millionyuancomparedwith571.07millionyuaninthesameperiodofthepreviousyearwith25.68%declined;excludingtherentalreductionof30.38millionyuanduetotheepidemic,actualoperatingincomewas
454.8millionyuan,adecreaseof116.27millionyuanor20.36%from571.07millionyuaninthecorrespondingperiodofthepreviousyear;themainchangesinincomewere①SichuanJewelryCompanyceasedoperationthisyear;②duetotheincreaseinsalesoftwonew-mid-to-high-endmodelsofAvalonandVellfirethisyearfromHuariCompany,salesincomeincreasedby68.78millionyuany-o-ywith31.77%growth,totalprofitachieved
76.7millionyuan,decreased225.9millionyuancomparedwith302.6millionyuaninthesameperiodofthe
previousyear;netprofitattributabletoparentcompanywas57.66millionyuan,decreasedby162.01millionyuancomparedwith219.67millionyuaninthesameperiodofthepreviousyear,mainlyduetotherecognitionofaninvestmentgainsof210.68millionyuanontheequitytransferofXinglonginthesameperiodofthepreviousyear.II.Mainbusinessanalysis
1.Introduction
Seethe“I-Introduction”in“DiscussionandAnalysisoftheOperation”
2.Revenueandcost
(1)Constituteofoperationrevenue
InRMB
| 2020 | 2019 | y-o-ychanges(+,-) | |||
| Amount | Ratioinoperationrevenue | Amount | Ratioinoperationrevenue | ||
| Totaloperationrevenue | 424,419,203.34 | 100% | 571,072,893.90 | 100% | -25.68% |
| Accordingtoindustries | |||||
| Autosales | 204,928,883.35 | 48.28% | 168,551,160.58 | 29.51% | 21.58% |
| Autoinspectionandmaintenanceandaccessoriessales | 43,351,689.36 | 10.21% | 47,952,488.50 | 8.40% | -9.59% |
| Propertyrentalandservice | 141,283,172.60 | 33.29% | 161,185,484.32 | 28.23% | -12.35% |
| Jewelrywholesaleandretails | 34,855,458.03 | 8.21% | 193,383,760.50 | 33.86% | -81.98% |
| Accordingtoproducts | |||||
| Autosales | 204,928,883.35 | 48.28% | 168,551,160.58 | 29.51% | 21.58% |
| Autoinspectionandmaintenanceandaccessoriessales | 43,351,689.36 | 10.21% | 47,952,488.50 | 8.40% | -9.59% |
| Propertyrentalandservice | 141,283,172.60 | 33.29% | 161,185,484.32 | 28.23% | -12.35% |
| Jewelrywholesaleandretails | 34,855,458.03 | 8.21% | 193,383,760.50 | 33.86% | -81.98% |
| Accordingtoregion | |||||
| Shenzhen | 407,455,899.14 | 96.00% | 377,689,133.40 | 66.14% | 7.88% |
| Anhui | 0.00% | 4,521,763.87 | 0.79% | -100.00% | |
| Sichuan | 16,963,304.20 | 4.00% | 188,861,996.63 | 33.07% | -91.02% |
(2)Industries,productsorregionsthataccountforover10%oftheCompany’soperatingincomeoroperatingprofit
√Applicable□Notapplicable
InRMB
| Operatingincome | Operatingcost | Grossprofitratio | Increase/decreaseofoperatingincomey-o-y | Increase/decreaseofoperatingcosty-o-y | Increase/decreaseofgrossprofitratioy-o-y | |
| Accordingtoindustries | ||||||
| Autosales | 204,928,883.35 | 191,680,818.07 | 6.46% | 21.58% | 22.36% | -0.60% |
| Autoinspectionandmaintenanceandaccessoriessales | 41,913,088.24 | 32,521,898.98 | 22.41% | -10.38% | -18.01% | 7.22% |
| Propertyrentalandservice | 134,609,167.52 | 57,587,615.11 | 57.22% | -12.16% | 13.41% | -9.65% |
| Jewelrywholesaleandretails | 34,855,458.03 | 34,757,161.55 | 0.28% | -81.98% | -80.87% | -5.76% |
| Accordingtoproducts | ||||||
| Autosales | 204,928,883.35 | 191,680,818.07 | 6.46% | 21.58% | 22.36% | -0.60% |
| Autoinspectionandmaintenanceandaccessoriessales | 41,913,088.24 | 32,521,898.98 | 22.41% | -10.38% | -18.01% | 7.22% |
| Propertyrentalandservice | 134,609,167.52 | 57,587,615.11 | 57.22% | -12.16% | 13.41% | -9.65% |
| Jewelrywholesaleandretails | 34,855,458.03 | 34,757,161.55 | 0.28% | -81.98% | -80.87% | -5.76% |
| Accordingtoregion | ||||||
| Shenzhen | 399,343,292.94 | 300,537,120.26 | 24.74% | 8.35% | 21.88% | -8.35% |
| Anhui | -100.00% | -100.00% | 7.44% | |||
| Sichuan | 16,963,304.20 | 16,010,373.45 | 5.62% | -91.02% | -90.97% | -0.48% |
Undercircumstancesofadjustmentinreportingperiodforstatisticscopeofmainbusinessdata,adjustedmainbusinessbasedon
latestoneyear’sscopeofperiod-end
□Applicable√Notapplicable
(3)Incomefromphysicalsaleslargerthanincomefromlabors
√Yes□No
| Industries | Item | Unit | 2020 | 2019 | Y-o-ychanges(+,-) |
| Autosales | Salesvolume | Set | 1,177 | 1,042 | 12.96% |
| Storage | Set | 122 | 108 | 12.96% |
Reasonsfory-o-yrelevantdatawithover30%changes
□Applicable√Notapplicable
(4)FulfillmentoftheCompany’ssignedsignificantsalescontractsuptothisreportingperiod
□Applicable√Notapplicable
(5)Constituteofoperationcost
Classificationofindustries
InRMB
| Industries | Item | 2020 | 2019 | Y-o-ychanges(+,-) | ||
| Amount | Ratioinoperationcost | Amount | Ratioinoperationcost | |||
| Autosales | Automobile | 191,680,818.07 | 60.04% | 156,655,616.45 | 36.35% | 22.36% |
| Autoinspectionandmaintenanceandaccessoriessales | Accessory,maintenanceanddetection | 34,227,425.76 | 10.72% | 40,564,299.92 | 9.41% | -15.62% |
| Propertyrentalandservice | Lease,propertymanagementandother | 58,595,796.21 | 18.35% | 52,101,447.87 | 12.09% | 12.46% |
| Jewelryoperation | Retailandwholesaleofjewelry | 34,757,161.55 | 10.89% | 181,699,948.40 | 42.16% | -80.87% |
| Total | 319,261,201.59 | 100.00% | 431,021,312.64 | 100.00% | -25.93% | |
Classificationofproducts
InRMB
| Products | Item | 2020 | 2019 | Y-o-ychanges(+,-) | ||
| Amount | Ratioinoperationcost | Amount | Ratioinoperationcost | |||
| Autosales | Automobile | 191,680,818.07 | 60.04% | 156,655,616.45 | 36.35% | 22.36% |
| Autoinspectionandmaintenanceandaccessoriessales | Accessory,maintenanceanddetection | 34,227,425.76 | 10.72% | 40,564,299.92 | 9.41% | -15.62% |
| Propertyrentalandservice | Lease,propertymanagementandother | 58,595,796.21 | 18.35% | 52,101,447.87 | 12.09% | 12.46% |
| Jewelryoperation | Retailandwholesaleofjewelry | 34,757,161.55 | 10.89% | 181,699,948.40 | 42.16% | -80.87% |
| Total | 319,261,201.59 | 100.00% | 431,021,312.64 | 100.00% | -25.93% | |
(6)WhetherthechangesinthescopeofconsolidationinReportingPeriod
√Yes□NoTotally16enterprisesincludedinconsolidatestatementforyearof2020,foundmoreintheVI.ChangeofConsolidateScopecarryintheannotationoffinancialstatementinAuditingReport2020releasedonJuchaoWebsiteonthesamedate.
(7)Majorchangesoradjustmentinbusiness,productorserviceoftheCompanyinReportingPeriod
□Applicable√Notapplicable
(8)MajorsalesandmainsuppliersMajorsalesclientoftheCompany
| Totaltopfiveclientsinsales(RMB) | 40,560,017.67 |
| Proportionintotalannualsalesvolumefortopfiveclients | 9.56% |
| Ratioofthesalesfromrelatedpartiesintotalannualsalesamongthetopfiveclients | 0.00% |
InformationoftopfiveclientsoftheCompany
| Serial | Name | Sales(RMB) | Proportionintotalannualsales |
| 1 | Client1 | 17,199,716.81 | 4.05% |
| 2 | Client2 | 6,560,964.85 | 1.55% |
| 3 | Client3 | 6,302,468.18 | 1.48% |
| 4 | Client4 | 5,667,079.49 | 1.34% |
| 5 | Client5 | 4,829,788.34 | 1.14% |
| Total | -- | 40,560,017.67 | 9.56% |
Othersituationofmainclients
□Applicable√NotapplicableMainsuppliersoftheCompany
| Totalpurchaseamountfromtopfivesuppliers(RMB) | 268,265,209.77 |
| Proportionintotalannualpurchaseamountfortopfivesuppliers | 84.03% |
| Ratioofthepurchasefromrelatedpartiesintotalannualpurchaseamongthetopfivesuppliers | 4.51% |
InformationoftopfivesuppliersoftheCompany
| Serial | Suppliers | Procurement(RMB) | Proportionintotalannualprocurement |
| 1 | Supplier1 | 202,663,802.20 | 63.48% |
| 2 | Supplier2 | 25,421,822.00 | 7.96% |
| 3 | Supplier3 | 16,927,433.67 | 5.30% |
| 4 | Supplier4 | 14,402,981.10 | 4.51% |
| 5 | Supplier5 | 8,849,170.80 | 2.77% |
| Total | -- | 268,265,209.77 | 84.03% |
OthernotesofmainsuppliersoftheCompany
□Applicable√Notapplicable
3.Expenses
InRMB
| 2020 | 2019 | Increase/decreasey-o-y(+,-) | Noteofmajorchanges | |
| Salesexpense | 17,715,132.43 | 23,956,102.30 | -26.05% | TellusStarlightJinzunisinaliquidationphaseintheyear,theoperatingexpensesdeclinedformayearearlierandreducedthesocialsecuritycostsduetotheimpactofepidemic,andthesalarycostsdeclinedonay-o-ybasisforthestaffchanges |
| Managementexpense | 39,984,244.07 | 43,668,263.92 | -8.44% | TellusStarlightJinzunisinaliquidationphaseintheyear,themanagementexpensesdeclinedformayearearlierandreducedthesocial |
| securitycostsduetotheimpactofepidemic,andthesalarycostsdeclinedonay-o-ybasisforthestaffchanges | ||||
| Financialexpense | -3,305,883.68 | 4,982,765.55 | -166.35% | Mainlybecausetherewasaninterestexpenditureonbankloansinthesameperiodlastyear,andnoneinthecurrentperiod |
4.R&Dinvestment
□Applicable√Notapplicable
5.Cashflow
InRMB
| Item | 2020 | 2019 | Y-o-ychanges(+,-) |
| Subtotalofcashin-flowfromoperationactivity | 580,706,758.00 | 668,606,354.87 | -13.15% |
| Subtotalofcashout-flowfromoperationactivity | 471,601,455.12 | 589,695,001.84 | -20.03% |
| Netcashflowarisingfromoperatingactivities | 109,105,302.88 | 78,911,353.03 | 38.26% |
| Subtotalofcashin-flowfrominvestmentactivity | 1,465,610,805.84 | 2,235,119,053.77 | -34.43% |
| Subtotalofcashout-flowfrominvestmentactivity | 1,763,400,388.10 | 1,883,237,512.37 | -6.36% |
| Netcashflowarisingfrominvestmentactivity | -297,789,582.26 | 351,881,541.40 | -184.63% |
| Subtotalofcashin-flowfromfinancingactivity | 42,971,759.33 | 178,020,000.00 | -75.86% |
| Subtotalofcashout-flowfromfinancingactivity | 46,625,829.24 | 350,992,854.04 | -86.72% |
| Netcashflowarisingfromfinancingactivity | -3,654,069.91 | -172,972,854.04 | -97.89% |
| Netincreasedamountofcashandcashequivalent | -192,205,601.18 | 257,820,137.12 | -174.55% |
Mainreasonsfory-o-ymajorchangesinaspectofrelevantdata
√Applicable□Notapplicable
| Item | 2020 | 2019 | Y-o-ychanges | Note |
| (+,-) | ||||
| Netcashflowarisingfromoperatingactivities | 109,105,302.88 | 78,911,353.03 | 38.26% | SichuanJewelryCompanycollectedfullopeningaccountreceivableduringtheyear |
| Subtotalofcashin-flowfrominvestmentactivity | 1,465,610,805.84 | 2,235,119,053.77 | -34.43% | Atlastperiod,receivedaequitytransferpaymentsandinterestfromXinglongCompany |
| Netcashflowarisingfrominvestmentactivity | -297,789,582.26 | 351,881,541.40 | -184.63% | Atlastperiod,receivedaequitytransferpaymentsandinterestfromXinglongCompany |
| Subtotalofcashin-flowfromfinancingactivity | 42,971,759.33 | 178,020,000.00 | -75.86% | Theloansdeclinedfromayearearlierandlastyear,theminorityshareholder’sinvestmentforSichuanJewelryCompanyincreased |
| Subtotalofcashout-flowfromfinancingactivity | 46,625,829.24 | 350,992,854.04 | -86.72% | Repaymentofthebankliquidity,fixedloanprincipalandinterestandborrowingsinthepreviousperiod |
| Netcashflowarisingfromfinancingactivity | -3,654,069.91 | -172,972,854.04 | -97.89% | Repaymentofthebankliquidity,fixedloanprincipalandinterestandborrowingsinthepreviousperiod |
Explanationofthereasonsforsignificantdifferencebetweenthenetcashflowfromoperatingactivitiesandthenetprofitoftheyearduringthereportingperiod
□Applicable√Notapplicable
III.Analysisofthenon-mainbusiness
√Applicable□Notapplicable
InRMB
| Amount | Ratiointotalprofit | Note | Whetherbesustainable | |
| Investmentincome | 23,458,405.59 | 30.58% | Gainsonfinancialmanagementandrecognitionofinvestmentincomefromparticipatingenterprises | N |
| Gain/lossoffairvaluechanges | 316,475.19 | 0.41% | Changesinfairvalueoftheoutstandingfinancialproducts | N |
| Assetsimpairment | -1,504,929.06 | -1.96% | SichuanJewelryCompanycollectedthereversalofbaddebtprovisionforaccountreceivable | N |
| Non-operation | 3,289,158.12 | 4.29% | Mainlythereversalofaccrual | N |
| revenue | liabilityfromGuangmingWatch | |||
| Non-operationexpenditure | 92,751.70 | 0.12% | Thelossesondestructionandscrappingofnon-currentassetsandcivilcompensationpayments | N |
IV.Assetsandliability
1.Majorchangesofassetscomposition
InRMB
| Year-endof2020 | Year-beginof2020 | Ratiochanges(+,-) | Notesofmajorchanges | |||
| Amount | Ratiointotalassets | Amount | Ratiointotalassets | |||
| Monetaryfund | 237,625,698.93 | 13.91% | 428,851,606.04 | 26.06% | -12.15% | |
| Accountreceivable | 19,828,510.36 | 1.16% | 112,613,224.27 | 6.84% | -5.68% | |
| Inventory | 22,079,679.93 | 1.29% | 21,389,602.83 | 1.30% | -0.01% | |
| Investmentrealestate | 568,246,616.13 | 33.26% | 554,599,503.55 | 33.70% | -0.44% | |
| Long-termequityinvestment | 123,640,955.57 | 7.24% | 162,178,544.05 | 9.85% | -2.61% | |
| Fixassets | 119,136,917.91 | 6.97% | 107,119,796.59 | 6.51% | 0.46% | |
| Constructioninprocess | 101,740,485.48 | 5.96% | 47,654,393.55 | 2.90% | 3.06% | |
| Long-termloans | 11,171,759.33 | 0.65% | 0.65% | |||
| Tradablefinancialassets | 314,013,869.86 | 18.38% | 60,486,575.34 | 3.68% | 14.70% | |
| Othernon-currentassets | 55,993,467.99 | 3.28% | 6,889,167.54 | 0.42% | 2.86% | |
| Taxespayable | 21,062,154.32 | 1.23% | 71,425,267.61 | 4.34% | -3.11% | |
| Otheraccountpayable | 158,663,974.62 | 9.29% | 101,266,802.49 | 6.15% | 3.14% | |
| Accountreceivedinadvance | 2,403,580.47 | 0.14% | 27,299,822.71 | 1.66% | -1.52% | |
| Contractliability | 18,988,628.13 | 1.11% | 1.11% | |||
2.Assetsandliabilitymeasuredbyfairvalue
√Applicable□Notapplicable
InRMB
| Items | Period-beginning | Gains/lossesofchangeoffairvalueintheperiod | Accumulativechangesoffairvaluereckonedintoequity | Impairmentaccrualintheperiod | Amountofpurchaseintheperiod | Amountofsaleintheperiod | Otherchanges | Period-end |
| Financialassets | ||||||||
| 1.Tradablefinancialassets(excludingderivativefinancialassets) | 60,486,575.34 | 316,475.19 | 0 | 0 | 1,590,780,000.00 | 1,337,252,705.48 | 0 | 314,013,869.86 |
| 2.Derivativefinancialassets | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| 3.Othercreditor'srightsinvestment | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| 4.OtherequityinstrumentsInvestment | 10,176,617.20 | 0 | 0 | 0 | 0 | 0 | 0 | 10,176,617.20 |
| Subtotaloffinancialassets | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| InvestmentRealEstate | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Productivebiologicalassets | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Abovetotal | 70,663,192.54 | 0 | 0 | 0 | 0 | 0 | 0 | 324,190,487.06 |
| Financialliabilities | 0.00 | 0 | 0 | 0 | 0 | 0 | 0 | 0.00 |
WhethertherehavemajorchangesonmeasurementattributesformainassetsoftheCompanyinreportperiodornot
□Yes√No
3.RightoftheassetsrestrainedtillendofthePeriod
FoundmoreinAuditingReport2020releasedonJuchaoWebsiteonthesamedate:V.“51-Assetssubjecttorestrictionsonownershiporuse”carryintheannotationoffinancialstatement
V.Investment
1.Overallsituation
√Applicable□Notapplicable
| Investmentamountintheperiod(RMB) | Investmentamountatsameperiodoflastyear(RMB) | Changes(+,-) |
| 134,347,000.00 | 169,530,000.00 | -20.75% |
2.Themajorequityinvestmentobtainedinthereportingperiod
√Applicable□Notapplicable
InRMB
| Nameofinvestedcompany | Principalbusiness | Methodofinvestment | Amountofinvestment | Shareholding | Capitalsources | Partners | Termofinvestment | Typeofproducts | Statusasofthebalancesheetdate | Expectedreturn | Currentinvestmentprofitandloss | Whetherlitigation | Dateofdisclosure(ifapplicable) | Indexofdisclosure(ifapplicable) |
| ShenzhenJewelryIndustryServiceCo.,LTD | Jewelleryfairplanning,jewelleryonconsignment,exhibitionplanning,conferenceservices | Newestablished | 13,000,000.00 | 65% | Ownfunds | ShenzhenLuohuInvestmentHoldingCo.,Ltd. | Nofixeddeadline | Jewelleryfairplanning,jewelleryonconsignment,exhibitionplanning,conferenceservices | Registrationcompleted | 0.00 | -7,852,792.82 | N | 2020-6-20 | FoundmoreinNotice(No.:2020-034)releasedonSecuritiesTimes,HongKongCommercial |
| andmarketingplanning | andmarketingplanning | DailyandJuchaoWebsite | ||||||||||||
| ShenzhenTellusTreasureSupplyChainTech.Co.,Ltd. | Purchase,salesandleasingofgoldjewelryandpreciousmetalproducts,cofferleaseandwarehousingservices | Capitalincrease | 40,747,000.00 | 100% | Ownfunds | N/A | Nofixeddeadline | Purchase,salesandleasingofgoldjewelryandpreciousmetalproducts,cofferleaseandwarehousingservices | Changecompleted | 0.00 | -1,172,700.64 | N | 2019-08-30 | FoundmoreinNotice(No.:2019-031)releasedonSecuritiesTimes,HongKongCommercialDailyandJuchaoWebsite |
| Total | -- | -- | 53,747,000.00 | -- | -- | -- | -- | -- | -- | 0.00 | -9,025,493.46 | -- | -- | -- |
3.Themajornon-equityinvestmentdoinginthereportingperiod
√Applicable□Notapplicable
InRMB
| ProjectName | InvestmentMethod | Investedwithfixedassets(Y/N) | IndustryinvolvedinInvestmentProjects | InvestmentAmountinthisReportingPeriod | ActualInvestmentAmountuptotheEndofReportingPeriod | CapitalSource | ProjectSchedule | AnticipatedIncome | RealizedIncomeuptotheEndofReportingPeriod | ReasonsfornotReachingthePlannedScheduleandAnticipatedIncome | Dateofdisclosure(ifapplicable) | Indexofdisclosure(ifapplicable) |
| Tellus | Self-built | Y | Urban | 68,160,0 | 174,250, | Raised | 0.00 | 0.00 | Not | 2019-05- | Found |
| JinzhuanTradingBuilding | renewalpilotproject-upgradingofthegoldjewelryindustrypark | 00.00 | 000.00 | fundbytheCompany | applicable | 28 | moreinNotice(No.:2019-022)releasedonSecuritiesTimes,HongKongCommercialDailyandJuchaoWebsite | |||||
| Transformation&upgradingprojectofthe421workshopinBagualing | Self-built | Y | Redecoration,renovationandupgradingoftheworkshop | 12,440,000.00 | 26,440,000.00 | RaisedfundbytheCompany | 0.00 | 0.00 | Notapplicable | 2019-03-26 | FoundmoreinNotice(No.:2019-006)releasedonSecuritiesTimes,HongKongCommercialDailyandJuchaoWebsite | |
| Total | -- | -- | -- | 80,600,000.00 | 200,690,000.00 | -- | -- | -- | -- | -- |
4.Financialassetsinvestment
(1)Securitiesinvestment
□Applicable√Notapplicable
(2)Derivativeinvestment
□Applicable√Notapplicable
5.Applicationofraisedproceeds
□Applicable√NotapplicableTheCompanyhasnoapplicationofraisedproceedsinthePeriod
VI.Salesofmajorassetsandequity
1.Salesofmajorassets
□Applicable√Notapplicable
2.Salesofmajorequity
□Applicable√Notapplicable
VII.AnalysisofmainholdingCompanyandstock-jointlycompanies
√Applicable□NotapplicableParticularaboutmainsubsidiariesandstock-jointlycompaniesnetprofitover10%
InRMB
| Companyname | Type | Mainbusiness | Registercapital | Totalassets | Netassets | Operatingrevenue | Operatingprofit | Netprofit |
| ShenzhenAutoIndustryandTradeCorporation | Subsidiary | Salesofautoandaccessories | RMB58.96million | 433,661,964.71 | 337,622,759.77 | 22,687,407.98 | 6,884,307.37 | 5,321,232.59 |
| ShenzhenSDGHuariAutoEnterpriseCo.,Ltd. | Subsidiary | Automaintenanceandproductionandsalesofaccessories | USD5million | 74,840,304.65 | 27,537,437.40 | 34,313,269.53 | 3,967,519.15 | 3,132,604.24 |
| ShenzhenZhongtianIndustrialCo,.Ltd. | Subsidiary | Propertyrental | RMB366.2219million | 646,222,977.22 | 417,876,778.10 | 66,396,971.04 | 26,689,705.90 | 20,561,665.55 |
| Shenzhen | Subsidiary | Autosales | RMB2 | 74,201,765 | 10,270,017 | 250,984,42 | 7,649,023. | 6,074,051. |
| HuariToyotaAutomobileSalesServiceCo.Ltd | million | .84 | .48 | 0.93 | 27 | 06 | ||
| ShenzhenXinyongtongAutoVehicleInspectionEquipmentCo.,Ltd. | Subsidiary | Manufactureofinspectionequipmentformotorvehicle | RMB19.61million | 14,369,010.07 | 8,787,695.48 | 4,674,191.02 | 990,566.89 | 933,261.75 |
| ShenzhenTellusXinyongtongAutomobileDevelopmentCo.Ltd | Subsidiary | Inspectionandrepairofmotorvehicle | RMB32.90million | 87,046,807.89 | 67,877,149.07 | 10,600,384.70 | 7,078,483.27 | 5,367,074.50 |
| ShenzhenTellusChuangyingTech.Co.,Ltd. | Subsidiary | Propertyrental | RMB14million | 15,753,836.46 | 12,801,503.32 | 2,678,005.05 | -571,903.57 | -571,720.81 |
| SichuanTellusJewelryTech.Co.,Ltd. | Subsidiary | Jewelrysales | RMB150million | 156,147,353.73 | 155,002,366.33 | 16,963,304.20 | 4,548,592.50 | 3,650,368.58 |
| ShenzhenTellusTreasureSupplyChainTech.Co.,Ltd. | Subsidiary | Purchase,salesandleasingofgoldjewelryandpreciousmetalproducts,cofferleaseandwarehousingservices | RMB50million | 52,220,669.82 | 48,713,902.85 | 17,408,759.29 | -1,172,700.65 | -1,172,700.64 |
| ShenzhenJewelryIndustryServiceCo.,LTD | Subsidiary | Jewelleryfairplanning,jewelleryonconsignment,exhibitionplanning,conferenceservicesand | RMB100million | 14,730,616.63 | 12,147,207.18 | 483,394.54 | -7,852,792.97 | -7,852,792.82 |
| marketingplanning | ||||||||
| ShenzhenZungFuTellusAutoServiceCo.,Ltd. | JointstockCompany | Carsalesandmaintenance | RMB30million | 237,666,265.54 | 96,020,417.54 | 1,247,864,433.00 | 41,571,156.75 | 30,838,325.75 |
| ShenzhenDongfengMotorCo.,Ltd. | JointstockCompany | Manufactureandmaintenanceofautomobile | RMB100million | 550,728,880.62 | 140,186,676.80 | 399,893,712.73 | -23,127,556.29 | -26,791,281.02 |
| ShenzhenTellusGmanInvestmentCo.,Ltd. | JointstockCompany | Investmentinindustry,propertymanagementandleasing | RMB123.70496million | 398,703,451.61 | 75,333,482.20 | 87,082,384.96 | 27,928,653.73 | 21,022,715.25 |
Particularaboutsubsidiariesobtainedordisposedinreportperiod
√Applicable□Notapplicable
| Name | WaytoobtainedanddisposeinthePeriod | Impactonoveralloperationandperformance |
| ShenzhenJewelryIndustryServiceCo.,LTD | Newlyestablished | AnimportantpartofthejewelrythirdpartyoperationservicestrategyoftheCompany,theShenzhenJewelryCompanyisinprogressofconstructionin2020andwithnetprofitof-7.85millionyuanfor2020. |
VIII.StructuredvehiclecontrolledbytheCompany
□Applicable√NotapplicableIX.Futuredevelopmentprospects
(i)Industrypattern&developmenttrendIn2020,theCOVID-19epidemicsweptacrosstheworld.Inthefaceofthehugeimpactoftheepidemicandthecomplexandseveredomesticandforeignenvironments,allregionsanddepartmentshavescientificallycoordinatedepidemicpreventionandcontrolandeconomicandsocialdevelopment,andourcountryhastakentheleadinbreakingoutofthehazeoftheepidemicandrealizedtherecovery,werodethewindandwavestomoveforwardsteadily,effectivelypromotedtherestorationofproductionandlivingorder,theindustrialserviceindustrycontinuedtorebound,investmentandconsumptioncontinuedtoimprove,andthenationaleconomycontinuedtorecoversteadily.Overall,theannualgrossdomesticproductincreasedby2.3%overthepreviousyear.
UndertheinfluenceoftheCOVID-19epidemic,theconsumer-ledgoldandjewelleryindustryhasbeengreatlyimpacted,andmanyeconomicactivitieshavebasicallystagnated.Comparedwiththeweaknessofforeigngoldmarkets,China'sgoldmarketstoodoutin2020,thegoldhedgingandanti-inflationfunctionscontinuedtobesoughtafter,andgoldtradingvolumeandgoldETFholdingscontinuedtoincrease.Intermsofsilver,globalsilverproductionwasexpectedtobe27,700tonsin2020.AsoftheendofNovember2020,silverfuturesattheShanghaiFuturesExchangehadatotalof320milliontransactionsduringtheyear,makingitoneoftheworld'slargestandmostactivesilverfutures.Intermsofplatinum,duetotheimpactoftheepidemic,thedemandandsupplyofplatinumfellby19%and35%respectivelyinthesecondquarterof2020,supplyanddemandwereexpectedtoenterashortage,withagapof336,000ounces(10.5tons).Intermsofdiamonds,globaldemandforroughdiamondssteadilyincreasedin2020,andretailsalesinmainlandChinaperformedwell,duetochangesinconsumerconcepts,thedemandforspecial-shapeddiamondsandcoloreddiamondsintheChineseconsumermarkethaveincreased.Intermsofcoloredgemstones,ourcountry'scoloredgemstonemarkethassteadilyincreasedinrecentyears,withanaverageannualcompoundgrowthrateof5%.Intermsofpearls,domesticpearlproductiondecreasedin2020,thepriceofmid-andlow-endpearlsslightlydecreased,andthesalesofpearljewelleryhaveshrunk.Thescaleofproductionandsales,brandbuildingandstandardbuilding,innovationcapability,andpublicserviceplatformconstructionoftheShenzhengoldandjewelrymanufacturingindustryareinaleadingpositioninthenationaljewelryindustry.Shenzhen'sjewelryindustryhasformedacompleteindustrialchain,andpresentsadevelopmenttrendintegratingR&Danddesign,manufacturing,exhibitionandtrading,andtourismculture.However,itisfacingproblemssuchasinsufficientmotivationforcontinuousinnovationandinsufficientreservesofhigh-endprofessionals.TheimpactoftheCOVID-19epidemicwillcontinuetogivebirthtonewindustryformats.(ii)DevelopmentstrategySinceformulatedthestrategicplanfortransformingintoathird-partyintegratedoperationserviceproviderinthejewelryindustryin2014,Tellushasbeensteadilypushingforwarditsstrategyinaccordancewiththeestablishedstrategy.Afteryearsofexplorationandexperimentation,substantialresultshavebeenachieved.Inthefuture,thecompanywillcontinuetodeepenourjewellerythird-partyserviceplatformtopromotetheindustrialupgradingandenhanceproductioncapacityandefficiency.
1.ThethirdpartyoperationserviceofjewelryThecompanywillcontinuetodeepentheexpansionofthird-partyservicesforjewelry,andstrivetobuildthemostinfluentialthird-partycomprehensiveserviceproviderinthedomesticjewelryandjadeindustry.ContinuetoimprovethecomprehensiveoperationandsupportingservicecapabilitiesoftheJewelryIndustrialPark.TellusJewelryBuildingwillcontinuetoadjustandupgradejewelrybusinesscategoriesbasedonthedevelopmenttrendofthejewelryindustry;acceleratetheexplorationofvalue-addedservicestofurtherenhancethesupportingservicecapabilitiesforenterprisesinthejewelryindustrypark;promotetheintegrationofresourcesforenterprisesinthebuilding,andestablishmerchantstickiness;playtheimportantvalueofTellusJewelryBuildingasaphysicalplatformthatcarriesthestrategictransformationofTellusintoathird-partycomprehensiveserviceproviderforthejewelryindustry.
Furtherexpandthesupplychainservicesofthejewelryindustry.PromoteTellusTreasurySupplyChainCompanytodevelopsafedepositboxbusiness,andbuildathird-partyvalue-addedserviceplatformforthejewelryindustrythatintegratespreciousmetalstorage,goldanddiamondsupplychainservicesandthird-partysafedepositboxes.InnovativelydevelopthebusinessofShenzhenjewelrycompanies.Providebondeddisplay,bondedwarehousing,customsdeclaration,logistics,settlementandotherservices,andfinallybuildacomprehensiveelementtradingserviceplatformwithinternationalinfluenceintegratingjewelryanddiamondrawmaterialsandfinishedproductsdisplay,spottrading,testing,identification,design,processing,e-commerce,financialservices,andinsurance.Promotetheconstructionofabaseforinnovationandentrepreneurship.Strengthenoperationandmanagementinnovation,establishamechanismsuitableforthedevelopmentandgrowthofinnovativeandentrepreneurialteams,developcreativedesignandhigh-endtalenttrainingbusiness,unitewithleadingcompaniesinShuibei,relyoncollegesanduniversitiesinShenzhenandestablishinnovativeandcreativedesigncollegessoastocultivatehigh-endtalentsinjewelleryandjadethataremarket-orientedandinlinewithinternationalfashion.
2.ResourceassetbusinessResourceassetmanagementisanimportantbusinesssectionofthecompany,whichprovidesthecompanywithastablecashflow.Thecompanywillcontinuetostrengthenthemanagementandoperationofresourceassetsbymeansoftransformation,revitalization,upgrading,andinnovativeoperation,andwiththehelpofmarket-orientedoperationstoexpandtheprofitabilityandeconomicbenefitsofresourceassets.
3.AutoservicebusinessPersistinoptimizingautomobilesalesandaftermarketservices,withthedevelopmentgoalofbecomingacomprehensivesuppliertoprovideconsumerswithdiverseautomobileproductsandservicesolutions,andfocusonthedevelopmentofautomobileretailservices,automobiletradeservices,andautomobileaftermarketservices.Makefulluseofthecompany'sexistingbusinessfoundation,giveplaytotheownpropertiesandgeographicaladvantages,buildanindustrialbrand,andacceleratetheextensionandaddedvalueofautopartsmaintenanceandtestingservices.(iii)Thecompany's2021annualbusinessplanIn2021,thecompanywillseizetheopportunityforin-depthadjustmentofthejewelryindustry,deepentheexpansionofthird-partyservicesforjewelry,practicetheTellusspiritof"fair,diligent,hardworking,andpractical",andpromotetheformationofateamofstrugglersthatworktogetherwithonewill.
1.Jewelrythird-partybusiness:
(1)ShenzhenJewelryCompany:Provideefficientandconvenientone-stopfull-chainservices,andrealizevalue-addedservicestocreaterevenue.
(2)TreasurySupplyChainCompany:Focusonthebondedplatform,developandoptimizethecompliantsupplychaininnovationbusiness,andprovidehigh-endsafedepositboxservicesabovethestandard.
(3)InnovationandEntrepreneurshipBase:Improvethedesignandcreativitydevelopmentandinnovationand
entrepreneurshipincubationservicesystem,realizethesmoothacceptanceoftheinnovationandentrepreneurshipbase;accelerateprojectcultivation.
2.Commercialoperationmanagementbusiness:
(1)TellusJewelryBuilding:Optimizetheowncommercialmanagementandoperationsystem,improveoverallcommercialmanagementefficiency,andmaintainagoodmarketcompetitiveadvantage;buildaprofessionalserviceoperationmodeltoincreasebrandpremiums.
(2)TellusHomeLifeExperienceHall:High-qualityoperationtobroadenbrandawareness.
(3)TellusJinzhuanTradingBuilding:ThePhaseIandPhaseIIwillbelinkedtooptimizethepositioningandinvestmentplan.
3.Autoservicebusiness:Onthebasisofmaintainingthestablescaleofautosalesandservicebusiness,continuouslyoptimizethemanagementandbusinessmodel,andactivelyexplorenewmodelsofautoincrementalbusiness.
4.TellusJinzhuanTradingBuildingconstructionprojectandrenovationproject:
(1)TellusJinzhuanTradingBuildingproject:Proceedsteadilyaccordingtotheplan,andcompletethecappingofthemainbuildingbeforetheendof2021.
(2)UrbanRenewalProjectinBuxinIndustrialZone:Activelypromotetheapprovaloftheimplementationofurbanrenewal.
5.Improvethe"14thFive-Year"strategicplanandtrackthestrategicdecompositionAimattheformulationofthe"14thFive-Year"strategicplan,decomposetargets,analyzebusinessdata,focusonstrategicpriorities,andimproveworkefficiency.
6.Improvethetalentechelonconstructionsystemandcomprehensivelyenhancethequalityoftalenttraining
(1)Ensuretheeffectivesupplyoftalentsandincreasethetrainingofreservetalentsandsuccessors.
(2)Establishasoundtalenttrainingsystem,formulatepersonallearningmaps,andoptimizetrainingmethods.
(3)Continuetooptimizethesalaryperformancemanagementsystemtoachievedifferentiatedsalary,targetedassessmentandmarketexitfortalents.(iv)PossiblerisksandcountermeasuresIntheprocessofstrategyimplementationandprojectoperation,wewillobjectivelyandclearlyrecognizethepossiblerisks,andtakeactiveandeffectivemeasurestopreventthem.
1.RisksfromfluctuationsinthemacroeconomicsituationAffectedbyfactorssuchasdomesticandforeignepidemicsandfinancialdeleveraging,ourcountry'seconomyhasenteredaperiodofspeedadjustment,domesticeconomicgrowthhasslowed,andpressureonindustrialstructureadjustmenthasincreased.Inearly2021,theimpactoftheCOVID-19epidemichasnotyetbeen
eliminated,anditwillstillimpacteconomicdevelopmentintheshortterm.Theoveralleconomicenvironmenthasanuncertainimpactonthecompany'soperations.Inresponsetothisrisk,thecompanywillactivelytakevariouspreventivemeasures.Firstly,continuetostrengthenmanagement,improveefficiencythroughscientificmanagement,tapthepotentialtoincreaserevenue,andcomprehensivelyimprovetheprofitabilityoftheoriginalbusiness;secondly,promotetheimplementationofprojects,expandtheincrementalmarket,andexpandthebusinessscale,lookfornewprofitgrowthpoints,andprovideagoodfoundationforthecompany’slong-termstabledevelopment.
2.RiskscausedbystrategicdecompositionandprojectimplementationInrecentyears,thecompanyhasmadeeveryefforttoadvanceitstransformationstrategygoals,andseveralstrategicprojectshavebeenimplemented.However,intheprocessofenteringtheindustryindepth,thecompanyhasbecomemoreandmoreawareofthevariousdifficultiesandrisksitwillface.Brand-newbusinessmodels,technicalcharacteristics,supplyanddemandrelationships,customerneeds,riskfactors,humanresourcerequirements,howtoidentifytechnologicaldevelopmentcapabilities,howtomeetchangingmarketneeds,andhowtotakethepathofinnovationanddevelopmentinthemarketareallnewchallengesthatthecompanyurgentlyneedstosolve,whichputforwardhigherrequirementsforthecompany'sresourceintegrationcapabilities,projectmanagementcapabilities,andprofessionaltalentreservesinthecompany'snewbusinesslayout.Inresponsetothisrisk,ontheonehand,thecompanywillcontinuetostrengthenitsbeliefintransformation,followtheestablishedoveralldevelopmentstrategyandbusinessstrategy,fullydemonstrate,makeprudentdecision-making,finemanagement,andmarket-orientedoperationtoensurethatstrategicprojectsobtaingoodinvestmentreturnsandactivelyrespondtomarketcompetition;ontheotherhand,thecompanywillsteadilypromotereformandinnovation,andtakeadvantageofthecompletionofthe"DoubleHundredAction"toexploreandimprovethecompany'slong-termincentivemechanism,mobilizetheenthusiasmofallemployees,improvecorporatemanagementandoperatingefficiency,andeffectivelyenhancethecorecompetitivenessofthecompany.X.Receptionofresearch,communicationandinterview
1.Inthereportperiod,receptionofresearch,communicationandinterview
□Applicable√NotapplicableNoreceptionofresearch,communicationandinterviewinthePeriod
SectionV.ImportantEventsI.Profitdistributionplanofcommonstockandcapitalizingofcommonreservesplan
Formulation,ImplementationandAdjustmentofcommonstockProfitDistributionPolicyEspeciallyCashDividendpolicyduringtheReportingPeriod
√Applicable□NotapplicableThecompanyattachesgreatimportancetothereasonablereturnsforinvestors;theArticlesofAssociationclearlydefinesthestandardsandproportionsofcashdividends,thedecision-makingproceduresandmechanisms,andtheformofprofitdistribution.ThecompanystrictlycomplieswiththeArticlesofAssociationandtheresolutionsoftheshareholders'generalmeeting,thedividendsstandardsandproportionsareclear,relevantdecision-makingproceduresandmechanismsarecomplete,theindependentdirectorsareresponsibleandgiveplaytotheirduties,themediumandsmallshareholdershavetheopportunitiestoexpresstheiropinionsanddemands,andthelegitimaterightsandinterestsofmediumandsmallshareholdersarefullymaintained.
| Specialdescriptiononcashdividendpolicy | |
| WhetheritmeetstherequirementsoftheArticleofAssociationortheResolutionoftheGeneralMeeting(Y/N): | Y |
| Whetherthebonusstandardsandproportionisclearandwell-defined(Y/N): | Y |
| Whetherhasacompletedrelevantdecision-makingproceduresandmechanism(Y/N): | Y |
| Whetherindependentdirectorsfulfilldutiesandplayaduerole(Y/N): | Y |
| Minorityshareholderswhetherhasopportunityoffullexpressionandappeals,thelegalinterestoftheminorityarebeingprotectedtotally(Y/N): | Y |
| Asfortheadjustmentandchangeofcashbonuspolicy,theconditionandprocedureswhethermeetsregulationsandtransparent(Y/N): | Y |
Distributionplan(pre-plan)forcommonstockdividends,capitalizationschemeofcapitalreserve(pre-plan)inlatestthreeyears(includingthisperiod)Profitdistributionplanforyearof2018are:carryout4.5additionalsharesforeach10sharesheldbyshareholdersarebeingconvertedbythecapitalreserve,basedontotalsharecapital297,281,600shareson31
stDecember2018.Totally133,776,720sharesareconvertedandthesharecapitaloftheCompanyincreasedto431,058,320afterthisconversionProfitdistributionplanforyearof2019are:Distributed0.42yuancashbonus(includingtax)forevery10sharesheldbywholeshareholdersoftheCompanybasedontotalsharecapital431,058,320shareson31
stDecember2019,total8,104,449.44yuanaredistributedincash,nobonussharesandnopublicreservetransferintoshare
capital.Profitdistributionplanforyearof2020are:Distributed0.20yuancashbonus(includingtax)forevery10sharesheldbywholeshareholdersoftheCompanybasedontotalsharecapital431,058,320shareson31
stDecember2020,total8,621,166.40yuanaredistributedincash,nobonussharesandnopublicreservetransferintosharecapital.
Cashdividendofcommonstockinlatestthreeyears(includingthereportingperiod)
InRMB
| Yearforbonusshares | Amountforcashbonus(taxincluded) | Netprofitattributabletocommonstockshareholdersoflistedcompanyinconsolidationstatementforbonusyear | Ratioofthecashbonusinnetprofitattributabletocommonstockshareholdersoflistedcompanycontainedinconsolidationstatement | Proportionforcashbonusbyotherways(i.e.sharebuy-backs) | Ratioofthecashbonusbyotherwaysinnetprofitattributabletocommonstockshareholdersoflistedcompanycontainedinconsolidationstatement | Totalcashbonus(includingotherways) | Ratioofthetotalcashbonus(otherwaysincluded)innetprofitattributabletocommonstockshareholdersoflistedcompanycontainedinconsolidationstatement |
| 2020 | 8,621,166.40 | 57,663,828.89 | 14.95% | 0.00 | 0.00% | 8,621,166.40 | 14.95% |
| 2019 | 18,104,449.44 | 219,669,708.47 | 8.24% | 0.00 | 0.00% | 18,104,449.44 | 8.24% |
| 2018 | 0.00 | 86,924,058.72 | 0.00% | 0.00 | 0.00% | 0.00 | 0.00% |
TheCompanygainsprofitsinreportingperiodandtheretainedprofitofcommonstockshareholdersprovidedbyparentCompanyispositivebutnoplanofcashdividendproposedofcommonstock
□Applicable√Notapplicable
II.ProfitdistributionplanandcapitalizingofcommonreservesplanforthePeriod
√Applicable□Notapplicable
| Bonussharesforevery10-share(Share) | 0 |
| Dividendsforevery10-share(RMB)(Taxincluded) | 0.20 |
| Sharestransferredfromevery10shares(Share) | 0 |
| Equitybaseofdistributionplan(Share) | 431,058,320 |
| Cashbonusdistribution(RMB)(Taxincluded) | 8,621,166.40 |
| Cashbonusdistributioninotherways(i.e.sharebuy-backs)(RMB) | 0.00 |
| Totalcashbonus(includingotherways)(RMB) | 8,621,166.40 |
| Distributableprofits(RMB) | 187,380,544.20 |
| Ratiooftotalcashdividend(otherwaysincluded)intotalprofitdistribution | 100% |
| Cashdividend | |
| IftheCompany’sdevelopmentstageisinthegrowthperiodandthereisamajorcapitalexpenditurearrangement,theminimumproportionofcashdividendintheprofitdistributionshouldbe20% | |
| Explanationonprofitdistributionorcapitalizingofcapitalreserves | |
| Profitdistributionplanforyearof2020is:Distributed0.20yuancashbonus(includingtax)forevery10sharesheldbywholeshareholdersoftheCompanybasedontotalsharecapital431,058,320shareson31stDecember2020,total8,621,166.40yuanaredistributedincash,nobonussharesandnopublicreservetransferintosharecapital. | |
III.Implementationofcommitment
1.Commitmentsthattheactualcontroller,shareholders,relatedparty,buyersandtheCompanyhavefulfilledduringthereportingperiodandhavenotyetfulfilledbytheendofreportingperiod
√Applicable□Notapplicable
| Commitments | Commitmentparty | Typeofcommitments | Contentofcommitments | Commitmentdate | Commitmentterm | Implementation |
| Commitmentsforsharemergerreform | ||||||
| Commitmentsinreportofacquisitionorequitychange | ||||||
| Commitmentsinassetsreorganization | ||||||
| Commitmentsmakeininitialpublicofferingor | ShenzhenTellusHoldingCo., | Other | ThecommitmentstothefulfillmentofinformationdisclosureabouttheCompanybusinessdevelopmentareasfollows:exceptfortheinformationhasbeendisclosedpublicly,theCompanyhasnothadthe | 2014-10-17 | Long-term | Implementing |
| re-financing | Ltd. | disclosedinformationaboutassetacquisitionandbusinessdevelopmentthathasnotbeendisclosedwithinoneyear.Inthefuture,theCompanyshalltimely,accuratelyandadequatelydisclosetherelevantinformationaccordingtotheprogressofnewbusinessandtherelatedrequirements. | ||||
| Equityincentivecommitment | ||||||
| Othercommitmentsformediumandsmallshareholders | ShenzhenSpecialDevelopmentGroupCo.,Ltd. | HorizontalCompetition | Inordertoavoidthehorizontalcompetition,theCompany’scontrollingshareholder,ShenzhenSDGhasissuedthe“commitmentletterabouttheavoidanceofhorizontalcompetition”onMay26,2014.Thefullcommitmentletterisasfollows:1.TheCompanyandotherenterprisescontrolledbytheCompanyexceptTellusGrouphaven’toccupiedinanybusinessthatcouldsubstantiallycompetewiththemainbusinessesofTellusGroup,andhavenohorizontalcompetitionrelationshipwithTellusGroup. | 2014-05-26 | Long-term | Implementing |
| ShenzhenTellusHoldingCo.,Ltd. | Dividendcommitment | From2020to2022,theCompany’sprofitswillfirstbeusedtocoverthelossesofpreviousyears;aftermakingupforlossesofpreviousyears,inthepremisethattheCompany’sprofitsandcashflowcanmeettheCompany'snormaloperationsandlong-termdevelopment,rewardshareholders,theCompanywillimplementpositiveprofitdistributionapproachestorewardtheshareholders,detailsareasfollows:1.TheCompany’sprofitdistributioncanadoptcash,stockorthecombinationofcashandstockorothermethodspermittedbylaw.TheforeigncurrencyconversionratesofdomesticallylistedforeignsharesdividendarecalculatedaccordingtothestandardpriceofHKdollaragainstRMBannouncedbyPeople'sBankofChinaonthefirstworkingdayaftertheresolutiondateoftheshareholders'meeting.TheCompanypreferstoadoptthecash | 2021-04-24 | 2022-12-31 | Implementing |
| growthrateandconsidertheimpactonfuturefinancingsoastomakesuretheallocationplansmeettheoverallinterestsofallshareholders. | |||
| Completedontime(Y/N) | Y | ||
| Asforthecommitmentoutofthecommitmenttime,explainthespecificreasonsandfurtherplans | Notapplicable | ||
2.ConcerningassetsorprojectoftheCompany,whichhasprofitforecast,andreportingperiodstillinforecastingperiod,explainreasonsofreachingtheoriginalprofitforecast
□Applicable√Notapplicable
IV.Non-operationalfundoccupationfromcontrollingshareholdersanditsrelatedparty
□Applicable√NotapplicableNonon-operationalfundoccupationfromcontrollingshareholdersanditsrelatedpartyinperiod.
V.ExplanationfromBoardofDirectors,SupervisoryCommitteeandIndependentDirectors(ifapplicable)for“QualifiedOpinion”thatissuedbyCPA
□Applicable√NotapplicableVI.Particularsaboutthechangesinaspectofaccountingpolicy,estimatesandcalculationmethodcomparedwiththefinancialreportoflastyear
√Applicable□NotapplicableSinceJanuary1,2020,theCompanyhasimplementedtherevisedAccountingStandardsforBusinessEnterprisesNo.14-Revenue.FoundmoreintheCompany’s“AuditingReport2020”disclosedonwww.cninfo.com.cnonthesameday,NoteIIItotheFinancialStatements“MajorAccountingPoliciesandAccountingEstimates”-31.“ChangesinImportantAccountingPoliciesandAccountingEstimates”VII.Majoraccountingerrorswithinreportingperiodthatneedsretrospectiverestatement
□Applicable√Notapplicable
NomajoraccountingerrorswithinreportingperiodthatneedsretrospectiverestatementfortheCompanyintheperiod.VIII.Comparewithlastyear’sfinancialreport;explainchangesinconsolidationstatement’sscope
√Applicable□NotapplicableTotally16enterprisesincludedinconsolidatestatementforyearof2020,foundmoreintheVI.ChangeofConsolidateScopecarryintheannotationoffinancialstatementinAuditingReport2020releasedonJuchaoWebsiteonthesamedate.IX.Appointmentandnon-reappointment(dismissal)ofCPAAccountingfirmappointed
| Nameofdomesticaccountingfirm | RSMCertifiedPublicAccountants(SpecialGeneralPartnership) |
| Remunerationfordomesticaccountingfirm(in10thousandYuan) | 70.50 |
| Continuouslifeofauditingservicefordomesticaccountingfirm | 1 |
| NameofdomesticCPA | LiQiaoyi,QinChangming |
| Continuouslifeofauditingservicefordomesticaccountingfirm | LiQiaoyi-1,QinChangming-2 |
Re-appointedaccountingfirmsinthisperiod
√Yes□NoWhethertochangetheaccountingfirmduringtheauditperiod
□Yes√NoWhetherthechangeofaccountingfirmmeetstheapprovalprocedure
√Yes□NoDetaileddescriptionofthere-appointed,changeofaccountingfirmThecompany’sformerauditingfirmPan-ChinaCertifiedPublicAccountants(LLP)(hereinafterreferredtoas“Pan-ChinaCPA”)adheredtotheprincipleofindependentauditinginitspractice,fairlyandindependentlyissuedauditopinions,objectively,fairlyandaccuratelyreflectedthecompany’sfinancialsituationsandinternalcontrols,andeffectivelyfulfilledtheresponsibilitiesoftheauditinstitution.InviewoftheexpiryofthetermofappointmentofPan-ChinaCPA,thecompanyintendsnottoengagePan-ChinaCPAasthefinancialauditorforyearof2020,andhascommunicatedwithPan-ChinaCPAinadvanceregardingterminationandrelatedmatters.ThecompanyexpressesitssinceregratitudetoPan-ChinaCPAanditsteamfortheirdiligence,conscientiousnessandgoodserviceduringtheprovisionofauditservices.Accordingtothecompany’sbusinessdevelopmentandfutureauditneeds,aftercarefulconsideration,thecompanyintendstoappointedRSMCertifiedPublicAccountants(SpecialGeneralPartnership)asthecompany’sfinancialauditandinternalcontrolauditinstitutionfor2020,withatermofoneyearandthefinancialauditfeeof500,000yuanandtheinternalcontrolauditcostof205,000yuan,atotalof705,000yuan.
Appointmentofinternalcontrolauditingaccountingfirm,financialconsultantorsponsor
√Applicable□NotapplicableTheCompanyappointedRSMCertifiedPublicAccountants(SpecialGeneralPartnership)astheinternalcontrolauditaccountingfirmoftheCompanyforyearof2020,withinternalcontrolauditof205,000yuan.X.Particularaboutdelistingafterannualreportdisclosed
□Applicable√Notapplicable
XI.Bankruptcyreorganization
□Applicable√NotapplicableNobankruptcyreorganizationfortheCompanyinreportingperiodXII.SignificantlawsuitsandarbitrationoftheCompany
√Applicable□NotapplicableFoundmoreintheCompany’s“AuditingReport2020”disclosedonwww.cninfo.com.cnonthesameday,Note11.CommitmentsorcontingencytotheFinancialStatementsXIII.Penaltyandrectification
□Applicable√NotapplicableNopenaltyandrectificationfortheCompanyinreportingperiod.
XIV.IntegrityoftheCompanyanditscontrollingshareholdersandactualcontrollers
?Applicable√NotapplicableXV.ImplementationoftheCompany’sstockincentiveplan,employeestockownershipplanorotheremployeeincentives
□Applicable√NotapplicableDuringthereportingperiod,theCompanyhasnostockincentiveplan,employeestockownershipplanorotheremployeeincentivesthathavenotbeenimplemented.
XVI.Majorrelatedtransaction
1.Relatedtransactionwithroutineoperationconcerned
√Applicable□Notapplicable
| Relatedparty | Relationship | Typeofrelatedtransaction | Contentofrelatedtransaction | Pricingprinciple | Relatedtransactionprice | Relatedtransactionamount(in10thousandYuan) | Proportioninsimilartransactions | Tradinglimitapproved(in10thousandYuan) | Whetherovertheapprovedlimitedornot(Y/N) | Clearingformforrelatedtransaction | Availablesimilarmarketprice | Dateofdisclosure | Indexofdisclosure |
| ShenzhenZungFuTellusAutoServiceCo.,Ltd. | Director,supervisorandseniorexecutivesoftheCompanyservesdirectoroftheenterprise | Routinerelatedtransaction | Offeringpropertyrenal | Referencemarketpricing | 385.71 | 385.71 | 2.73% | 540 | N | Agreedbycontractoragreement | 385.71 | ||
| ShenzhenSDGTellusPropertyManage | Subsidiaryofthecontrollingshare | Routinerelatedtransaction | Offeringpropertyrenal | Referencemarketpricing | 4.48 | 4.48 | 0.03% | 14 | N | Agreedbycontractoragreement | 4.48 |
| mentCo.,Ltd. | holder | ||||||||||
| ShenzhenSDGPettyLoanCo.,Ltd. | Subsidiaryofthecontrollingshareholder | Routinerelatedtransaction | Offeringpropertyrenalandmanagementservice | Referencemarketpricing | 113.70 | 113.70 | 0.80% | 113.70 | N | Agreedbycontractoragreement | 113.70 |
| JewelryParkBranchofShenzhenSDGServiceCo.,Ltd. | Sub-subsidiaryofcontrollingshareholder | Routinerelatedtransaction | Offeringpropertyrenal | Referencemarketpricing | 180.11 | 180.11 | 1.27% | 180 | Y | Agreedbycontractoragreement | 180.11 |
| ShenzhenSDGEngineeringManagementCo.,Ltd | Subsidiaryofthecontrollingshareholder | Routinerelatedtransaction | Acceptengineeringsupervisionservice | Referencemarketpricing | 83.89 | 83.89 | 1.43% | 43 | Y | Agreedbycontractoragreement | 83.89 |
| JewelryParkBranchofShenzhenSDGServiceCo.,Ltd. | Sub-subsidiaryofcontrollingshareholder | Routinerelatedtransaction | Acceptservicessuchascleangreeningandtransformation | Referencemarketpricing | 104.62 | 104.62 | 1.79% | 36 | Y | Agreedbycontractoragreement | 104.62 |
| Shenzh | Subsi | Routi | Accep | Refer | 1,440.30 | 1,440.3 | 24.58 | 1,570 | N | Agree | 1,440.3 |
| enSDGTellusPropertyManagementCo.,Ltd. | diaryofthecontrollingshareholder | nerelatedtransaction | tpropertymanagementservices | encemarketpricing | % | dbycontractoragreement | 0 | ||||||
| Total | -- | -- | 2,312.81 | -- | 2,523 | -- | -- | -- | -- | -- | |||
| Detailofsalesreturnwithmajoramountinvolved | N/A | ||||||||||||
| Performingnormally | |
| Reasonsformajordifferencesbetweentradingpriceandmarketreferenceprice | Notapplicable |
2.Relatedtransactionsbyassetsacquisitionandsold
□Applicable√NotapplicableNorelatedtransactionsbyassetsacquisitionandsoldfortheCompanyinreportingperiod.
3.Mainrelatedtransactionsofmutualinvestmentoutside
□Applicable√NotapplicableNomainrelatedtransactionsofmutualinvestmentoutsidefortheCompanyinreportingperiod.
4.Contactofrelatedcreditanddebt
√Applicable□NotapplicableWhethertheCompanyhadnon-operatingcontactofrelatedcreditanddebt
√Yes□NoDebtspayabletorelatedparty
| Relatedparty | Relationship | Causes | Balanceatperiod-begin(10thousandYuan) | Currentnewlyadded(10thousand | Currentrecovery(10thousandYuan) | Interestrate | Currentinterest(10thousandYuan) | Balanceatperiod-end(10thousandYuan) |
| Yuan) | ||||||||
| ShenzhenSpecialDevelopmentGroupCo.,Ltd. | Controllingshareholders | LoanprincipalforHurariCompany | 1,738 | 6 | 1 | 6 | 1,743 | |
| ShenzhenSpecialDevelopmentGroupCo.,Ltd. | Controllingshareholders | LoanprincipalforHurariCompany | 300 | 300 | 0 | |||
| Impactonoperationresultsandfinancialstatus | Totalprofitdecreased60,000YuanduetotheinterestexpensesincreasedintheYear | |||||||
5.Othermajorrelatedtransactions
□Applicable√NotapplicableNoothermajorrelatedtransactioninPeriod
XVII.Significantcontractandimplementations
1.Trusteeship,contractandleasing
(1)Trusteeship
□Applicable√NotapplicableNotrusteeshipfortheCompanyinreportingperiod
(2)Contract
□Applicable√NotapplicableNocontractfortheCompanyinreportingperiod
(3)Leasing
□Applicable√NotapplicableNoleasingfortheCompanyinreportingperiod
2.Majorguarantees
√Applicable□Notapplicable
(1)Guarantees
In10thousandYuan
| ParticularsabouttheexternalguaranteeoftheCompanyanditssubsidiary(Barringtheguaranteeforsubsidiaries) | ||||||||
| NameoftheCompanyguaranteed | RelatedAnnouncementdisclosuredate | Guaranteelimit | Actualdateofhappening | Actualguaranteelimit | Guaranteetype | Guaranteeterm | Implemented(Y/N) | Guaranteeforrelatedparty(Y/N) |
| ShenzhenZungFuTellusAutoServiceCo.,Ltd. | 2014-09-30 | 3,500 | 2007-04-17 | 3,500 | Pledged | Totheexpiredateofjointventurecontract | N | Y |
| Totalapprovingexternalguaranteeinreportperiod(A1) | 0 | Totalactualoccurredexternalguaranteeinreportperiod(A2) | 3,500 | |||||
| Totalapprovedexternalguaranteeattheendofreportperiod(A3) | 3,500 | Totalactualbalanceofexternalguaranteeattheendofreportperiod(A4) | 3,500 | |||||
| GuaranteeoftheCompanyforsubsidiaries | ||||||||
| NameoftheCompanyguaranteed | RelatedAnnouncementdisclosuredate | Guaranteelimit | Actualdateofhappening | Actualguaranteelimit | Guaranteetype | Guaranteeterm | Implemented(Y/N) | Guaranteeforrelatedparty(Y/N) |
| Totalamountofapprovingguaranteeforsubsidiariesinreportperiod(B1) | 0 | Totalamountofactualoccurredguaranteeforsubsidiariesinreportperiod(B2) | 0 | |||||
| Totalamountofapprovedguaranteeforsubsidiariesattheendofreportingperiod(B3) | 0 | Totalbalanceofactualguaranteeforsubsidiariesattheendofreportingperiod(B4) | 0 | |||||
| Guaranteeofthesubsidiariesforsubsidiaries | ||||||||
| NameoftheCompanyguaranteed | RelatedAnnouncementdisclosuredate | Guaranteelimit | Actualdateofhappening | Actualguaranteelimit | Guaranteetype | Guaranteeterm | Implemented(Y/N) | Guaranteeforrelatedparty(Y/N) |
| Totalamountofapprovingguaranteeforsubsidiariesinreportperiod(C1) | 0 | Totalamountofactualoccurredguaranteeforsubsidiariesinreportperiod(C2) | 0 |
| Totalamountofapprovedguaranteeforsubsidiariesattheendofreportingperiod(C3) | 0 | Totalbalanceofactualguaranteeforsubsidiariesattheendofreportingperiod(C4) | 0 |
| TotalamountofguaranteeoftheCompany(totalofthreeabovementionedguarantee) | |||
| Totalamountofapprovingguaranteeinreportperiod(A1+B1+C1) | 0 | Totalamountofactualoccurredguaranteeinreportperiod(A2+B2+C2) | 3,500 |
| Totalamountofapprovedguaranteeattheendofreportperiod(A3+B3+C3) | 3,500 | Totalbalanceofactualguaranteeattheendofreportperiod(A4+B4+C4) | 3,500 |
| Totalactualguarantees(A4+B4+C4)asapercentageoftheCompany’snetassets | 2.67% | ||
| Including: | |||
| Amountofguaranteeforshareholders,actualcontrolleranditsrelatedparties(D) | 0 | ||
| Thedebtsguaranteeamountprovidedfortheguaranteedpartieswhoseassets-liabilityratioexceed70%directlyorindirectly(E) | 0 | ||
| ProportionoftotalamountofguaranteeinnetassetsoftheCompanyexceed50%(F) | 0 | ||
| Totalamountoftheaforesaidthreeguarantees(D+E+F) | 0 | ||
| Explanationsonpossiblybearingjointandseveralliquidatingresponsibilitiesforundueguarantees(ifapplicable) | N/A | ||
| Explanationsonexternalguaranteeagainstregulatedprocedures(ifapplicable) | N/A | ||
ExplanationonguaranteewithcompositewayNil
(2)Guaranteeoutsideagainsttheregulation
□Applicable√NotapplicableNoguaranteeoutsideagainsttheregulationinPeriod.
3.Entrustotherstocashassetmanagement
(1)Trustfinancing
√Applicable□NotapplicableTrustfinancinginthereportingperiod
In10thousandYuan
| Type | Capitalresources | Amountforentrust | Balanceun-expired | Overdueamount |
| Bankfinancingproduct | Ownfunds | 159,078 | 31,322 | 0 |
| Total | 159,078 | 31,322 | 0 | |
Detailsofthesinglemajoramount,orhigh-risktrustinvestmentwithlowsecurity,poorfluidityandnon-guaranteed
□Applicable√NotapplicableEntrustfinancialexpectedtobeunabletorecovertheprincipalorimpairmentmightbeoccurred
□Applicable√Notapplicable
(2)Entrustedloans
□Applicable√NotapplicableTheCompanyhadnoentrustedloansinthereportingperiod.
4.Significantcontractsforday-to-dayoperations
□Applicable√Notapplicable
5.Othersignificantcontracts
□Applicable√NotapplicableNoothersignificantcontractsfortheCompanyinreportingperiod
XVIII.Socialresponsibility
1.FulfillsocialresponsibilityTheCompanyhasalwaystakentheshareholders’return,employees’achievements,andsocialfeedbackasitsownduty.Weadherestotheprincipleoffairnessandactivelysafeguardsthelegitimaterightsandinterestsofshareholders;activelyadvocatesachievingtheself-worthwhilerealizingtheenterprisevalue,andcreatesaworkingenvironmentthattheenterprisecaresforemployeesandemployeeslovetheenterprisesoastohaveaharmoniousdevelopmenttogether;activelyreturnstothesocietyandthepublic,andcommitsitselftoachievetheharmoniousandsustainabledevelopmentoftheCompanyandsociety.
(ii)Performanceoftakingtargetedmeasuresinpovertyalleviation
1.PrecisepovertyalleviationplanningThecompanyfullyimplementsthegeneralrequirementsoftheclosingbattleagainstpoverty,fulfilledtheroleofstate-ownedenterprisesandflexiblecarriedoutvariousassistanceworktocombatthepoverty.
2.SummaryoftheannualprecisepovertyalleviationDuringthereportingperiod,thecompanydigestagriculturalandsidelineproductsinpoorareasbymeansofpurchaseinsteadofdonation,andopensupsaleschannelsforagriculturalproductsbymeansofconsumptionandsupport,andstronglypromotetheeconomicupgradingofpoorareaswithpracticalactions.
3.follow-upprecisepovertyalleviationThecompanywillcontinuetodigesttheagriculturalandsidelineproductsfrompoorareasthroughpurchaseinlieuofdonation,andtakesconcreteactionstopromotetheeconomicimprovementinpoorareasandliftpoorpeopleoutofpoverty.(iii)Environmentalprotection
ThelistedCompanyanditssubsidiarywhetherbelongstothekeysewageunitsreleasedfromenvironmentalprotectiondepartment
□Yes√NoThecompanyanditssubsidiariesarenotamongthekeyemissionunitsannouncedbytheenvironmentalprotectionauthorities.
XIX.Explanationonothersignificantevents
□Applicable√Notapplicable
XX.SignificanteventofsubsidiaryoftheCompany
□Applicable√Notapplicable
SectionVI.ChangesinSharesandParticularsaboutShareholderI.ChangesinShareCapital
1.ChangesinShareCapital
InShare
| Beforechange | Increase/decreaseinthistime(+,-) | Afterchange | |||||||
| Amount | Ratio | Newsharesissued | Bonusshare | Capitalizationofpublicreserve | Other | Subtotal | Amount | Ratio | |
| I.Restrictedshares | 0 | 0.00% | 0 | 0 | 0 | 0 | 0 | 0 | 0.00% |
| 1.Stateholding | 0 | 0.00% | 0 | 0 | 0 | 0 | 0 | 0 | 0.00% |
| 2.State-ownedcorporationshares | 0 | 0.00% | 0 | 0 | 0 | 0 | 0 | 0 | 0.00% |
| 3.Otherdomesticshares | 0 | 0.00% | 0 | 0 | 0 | 0 | 0 | 0 | 0.00% |
| Including:domesticlegalperson’sshares | 0 | 0.00% | 0 | 0 | 0 | 0 | 0 | 0 | 0.00% |
| Domesticnaturalperson’sshares | 0 | 0.00% | 0 | 0 | 0 | 0 | 0 | 0 | 0.00% |
| 4.Foreigner’sshares | 0 | 0.00% | 0 | 0 | 0 | 0 | 0 | 0 | 0.00% |
| Including:foreigncorporationshares | 0 | 0.00% | 0 | 0 | 0 | 0 | 0 | 0 | 0.00% |
| Foreignnaturalperson’sshares | 0 | 0.00% | 0 | 0 | 0 | 0 | 0 | 0 | 0.00% |
| II.Un-restrictedshares | 431,058,320 | 100.00% | 0 | 0 | 0 | 0 | 0 | 431,058,320 | 100.00% |
| 1.RMBordinaryshares | 392,778,320 | 91.12% | 0 | 0 | 0 | 0 | 0 | 392,778,320 | 91.12% |
| 2.Domesticallylistedforeignshares | 38,280,000 | 8.88% | 0 | 0 | 0 | 0 | 0 | 38,280,000 | 8.88% |
| 2.Foreignshareslistedaboard | 0 | 0.00% | 0 | 0 | 0 | 0 | 0 | 0 | 0.00% |
| 3.Other | 0 | 0.00% | 0 | 0 | 0 | 0 | 0 | 0 | 0.00% |
| III.Totalshares | 431,058,320 | 100.00% | 0 | 0 | 0 | 0 | 0 | 431,058,320 | 100.00% |
Reasonsforsharechanged
□Applicable√Notapplicable
2.Changesofrestrictedshares
□Applicable√Notapplicable
II.Securitiesissuanceandlisting
1.Securityoffering(withoutpreferredstock)inReportingPeriod
□Applicable√Notapplicable
2.Changesoftotalsharesandshareholdersstructureaswellasexplanationonchangesofassetsandliabilitystructure
□Applicable√Notapplicable
3.Currentinternalstaffshares
□Applicable√Notapplicable
III.ParticularsaboutshareholderandactualcontrolleroftheCompany
1.AmountofshareholdersoftheCompanyandparticularsaboutsharesholding
InShare
| Totalcommonstockshareholdersinreportingperiod-end | 48,827 | Totalcommonstockshareholdersatendoflastmonthbeforeannualreportdisclosed | 47,794 | Totalpreferenceshareholderswithvotingrightsrecoveredatendofreportingperiod(ifapplicable)(foundinnote8) | 0 | Totalpreferenceshareholderswithvotingrightsrecoveredatendoflastmonthbeforeannualreportdisclosed(ifapplicable)(foundinnote8) | 0 | ||||||
| Particularsaboutsharesheldabove5%byshareholdersortoptenshareholders | |||||||||||||
| FullnameofShareholders | Natureofshareholder | Proportionof | Totalshareholders | Changesinreportperiod | Amountof | Amountofun-restricted | Numberofsharepledged/frozen | ||||||
| sharesheld | attheendofreportperiod | restrictedsharesheld | sharesheld | Stateofshare | Amount | |||
| ShenzhenSpecialDevelopmentGroupCo.,Ltd. | State-ownedcorporation | 49.09% | 211,591,621 | 0 | 0 | 211,591,621 | 0 | |
| ShenzhenCapitalFortuneJewelryIndustryInvestmentEnterprise(LP) | Domesticnonstate-ownedcorporate | 14.77% | 63,655,372 | -13,441,499 | 0 | 63,655,372 | 0 | |
| GUOTAIJUNANSECURITIES(HONGKONG)LIMITED | Foreigncorporation | 0.40% | 1,736,091 | 0 | 0 | 1,736,091 | 0 | |
| HongKongSecuritiesClearingCompanyLtd. | Foreigncorporation | 0.27% | 1,154,905 | 351，557 | 0 | 1,154,905 | 0 | |
| CCB-GFCSIAllIndexAutoindex-basedOriginatedSecuritiesInvestmentFund | Other | 0.22% | 942,238 | 942,238 | 0 | 942,238 | 0 | |
| ShanghaiYingshuiInvestmentManagementCo.,Ltd.-YingshuiDongfengNo.3-PrivateEquityInvestmentFund | Other | 0.13% | 566,487 | 566,487 | 0 | 566,487 | 0 | |
| ShenZuowei | Domesticnatureperson | 0.12% | 516,485 | 516,485 | 0 | 516,485 | 0 | |
| CindaSecurities | State-owned | 0.12% | 510,000 | 156,681 | 0 | 510,000 | 0 |
| Co.,Ltd. | corporation | |||||||
| YangJianfeng | Domesticnatureperson | 0.12% | 504,200 | 504,200 | 0 | 504,200 | 0 | |
| YaoZhenming | Domesticnatureperson | 0.11% | 475,200 | 475,200 | 0 | 475,200 | 0 | |
| Strategyinvestorsorgeneralcorporationcomestop10shareholdersduetorightsissue(ifapplicable)(seenote3) | Notapplicable | |||||||
| Explanationonassociatedrelationshipamongthetoptenshareholdersorconsistentaction | Amongthetoptenshareholders,thereexistsnoassociatedrelationshipbetweenthestate-ownedlegalperson’sshareholdersSDG,Ltdandothershareholders,andtheydonotbelongtothepersonsactinginconcertregulatedbytheManagementMeasureofInformationDisclosureonChangeofShareholdingforListedCompanies.Fortheothershareholdersofcirculationshare,theCompanyisunknownwhethertheybelongtothepersonsactinginconcert. | |||||||
| Descriptionoftheaboveshareholdersinrelationtodelegate/entrustedvotingrightsandabstentionfromvotingrights. | Notapplicable | |||||||
| Particularabouttoptenshareholderswithun-restrictsharesheld | ||||||||
| Shareholders’name | Amountofun-restrictsharesheldatPeriod-end | Typeofshares | ||||||
| Type | Amount | |||||||
| ShenzhenSpecialDevelopmentGroupCo.,Ltd. | 211,591,621 | RMBordinaryshares | 211,591,621 | |||||
| ShenzhenCapitalFortuneJewelryIndustryInvestmentEnterprise(LP) | 63,655,372 | RMBordinaryshares | 63,655,372 | |||||
| GUOTAIJUNANSECURITIES(HONGKONG)LIMITED | 1,736,091 | Domesticallylistedforeignshares | 1,736,091 | |||||
| HongKongSecuritiesClearingCompanyLtd. | 1,154,905 | RMBordinaryshares | 1,154,905 | |||||
| CCB-GFCSIAllIndexAutoindex-basedOriginated | 942,238 | RMBordinary | 942,238 | |||||
| SecuritiesInvestmentFund | shares | ||
| ShanghaiYingshuiInvestmentManagementCo.,Ltd.-YingshuiDongfengNo.3-PrivateEquityInvestmentFund | 566,487 | RMBordinaryshares | 566,487 |
| ShenZuowei | 516,485 | RMBordinaryshares | 516,485 |
| CindaSecuritiesCo.,Ltd. | 510,000 | RMBordinaryshares | 510,000 |
| YangJianfeng | 504,200 | RMBordinaryshares | 504,200 |
| YaoZhenming | 475,200 | RMBordinaryshares | 475,200 |
| Expiationonassociatedrelationshiporconsistentactorswithinthetop10un-restrictshareholdersandbetweentop10un-restrictshareholdersandtop10shareholders | Amongthetoptenshareholders,thereexistsnoassociatedrelationshipbetweenthestate-ownedlegalperson’sshareholdersSDG,Ltdandothershareholders,andtheydonotbelongtothepersonsactinginconcertregulatedbytheManagementMeasureofInformationDisclosureonChangeofShareholdingforListedCompanies.Fortheothershareholdersofcirculationshare,theCompanyisunknownwhethertheybelongtothepersonsactinginconcert. | ||
| Explanationonshareholdersinvolvingmarginbusinessabouttoptencommonshareholderswithun-restrictsharesheld(ifapplicable)(seenote4) | TheshareholderShanghaiYingshuiInvestmentManagementCo.,Ltd.-YingshuiDongfengNo.3-PrivateEquityInvestmentFundholds566,487sharesofthecompany'sstockthroughacredittransactionguaranteesecuritiesaccount,and0sharesofthecompany'sstockthroughanordinarysecuritiesaccount,foratotalof566,487shares.TheshareholderYangJianfengholds372,100sharesofthecompany'sstockthroughacredittransactionguaranteesecuritiesaccount,and132,100sharesofthecompany'sstockthroughanordinarysecuritiesaccount,foratotalof504,200shares. | ||
Whethertoptencommonstockshareholdersortoptencommonstockshareholderswithun-restrictsharesheldhaveabuy-backagreementdealinginreportingperiod
□Yes√NoThetoptencommonstockshareholdersortoptencommonstockshareholderswithun-restrictsharesheldoftheCompanyhavenobuy-backagreementdealinginreportingperiod.
2.ControllingshareholderoftheCompany
Natureofcontrollingshareholders:localstate-ownedholdingTypeofcontrollingshareholders:legalperson
| Majorityshareholder | Legalperson/personinchargeoftheunit | Dateoffoundation | Organizationcode | Mainoperationbusiness |
| ShenzhenSpecialDevelopmentGroupCo.,Ltd. | ZhangJunlin | June20,1982 | 91440300192194195C | Investmentinindustry(specificitemshouldbedeclaration);investmentintourismindustry;developmentandoperationoftherealestate;domesticbusiness,materialsupplyandmarketingindustry(excludingmonopolizedcommodityandcommodityunderspecialgovernmentcontrol);economicinformation(excludingrestrictedprojects);import&exportbusiness |
| EquityoflistedCompanyinandoutofChinacontrolandholdbythemajorityshareholderinthePeriod | ExceptthesharesoftheCompanyheldbySDG,SDGstillholds304,722,350sharesofShenzhenSDGInformationCo.,Ltd.(Stockname:SDGI,Stockcode:000070),a37.32%takes;holds7,798,809sharesofSichuanJinluGroupCo.,Ltd.(Stockname:JinluGroup,Stockcode:000510),a1.28%takes;throughShenzhenCapitalFortuneElectronicInformationInvestmentEnterprise(limitedpartnership),holds183,818,073sharesofShenzhenMicrogateTechnologyCo.,Ltd.(Stockname:MicrogateTechnology,securitiescode:300319),with26.37%takes;holds48,750,000sharesofShenzhenSDGServiceCo.,Ltd.(Stockname:SDGService,Stockcode:300917)withultimatebeneficiarysharesof48.75%. | |||
Changesofcontrollingshareholdersinreportingperiod
□Applicable√NotapplicableTheCompanyhadnochangesofcontrollingshareholdersinreportingperiod
3.ActualcontrolleroftheCompanyandpersonsactinginconcertNatureofactualcontroller:localstate-ownedassetsmanagementTypeofactualcontroller:legalperson
| Actualcontrollingshareholders | Legalperson/personinchargeoftheunit | Dateoffoundation | Organizationcode | Mainoperationbusiness |
| ShenzhenMunicipalPeople’sGovernmentState-ownedAssetsSupervisionandAdministrationCommission | YuGang | July20,2003 | 11440300K317280672 | Notapplicable |
| Equityofdomestic/oversealistedCompanycontrolbyactualcontrollerinreportperiod | Notapplicable |
Changesofactualcontrollerinreportingperiod
□Applicable√NotapplicableNochangesofactualcontrollersfortheCompanyinreportingperiod.PropertyrightandcontrollingrelationshipbetweentheactualcontrollerandtheCompanyisasfollow:
ActualcontrollercontrollingtheCompanybyentrustorotherassetsmanagement
□Applicable√Notapplicable
4.Particularsaboutotherlegalpersonshareholderswithover10%sharesheld
√Applicable□Notapplicable
| Corporateshareholders | Legalrep./personinchargeofunit | Dateoffoundation | Registercapital | Mainbusinessormanagementactivity |
| ShenzhenCapitalFortuneJewelryIndustryInvestmentEnterprise(LP) | ChengHoubo | April18,2014 | 620millionYuan | Equityinvestment |
5.Limitationandreducingtheholdingsofsharesofcontrollingshareholders,actualcontrollers,restructuringsideandothercommitmentsubjects
□Applicable√Notapplicable
SectionVII.PreferredStock
□Applicable√NotapplicableTheCompanyhadnopreferredstockinthePeriod.
SectionVIII.ConvertibleBonds
□Applicable√NotapplicableTheCompanyhadnoconvertiblebondsinthePeriod.
SectionIX.ParticularsaboutDirectors,Supervisors,Senior
ExecutivesandEmployees
I.Changesofsharesheldbydirectors,supervisorsandseniorexecutives
| Name | Title | Workingstatus | Sex | Age | Startdatedofofficeterm | Enddateofofficeterm | Sharesheldatperiod-begin(Share) | Amountofsharesincreasedinthisperiod(Share) | Amountofsharesdecreasedinthisperiod(Share) | Otherchanges(share) | Sharesheldatperiod-end(Share) |
| FuChunlong | Chairman | Currentlyinoffice | M | 48 | September7,2018 | September6,2021 | 0 | 0 | 0 | 0 | 0 |
| YuLei | Director | Currentlyinoffice | F | 53 | June6,2012 | September6,2021 | 0 | 0 | 0 | 0 | 0 |
| ZhangQuanxun | Director | Currentlyinoffice | M | 48 | May20,2015 | September6,2021 | 0 | 0 | 0 | 0 | 0 |
| GuZhimin | Director | Currently | M | 50 | September7,2018 | September6,2021 | 0 | 0 | 0 | 0 | 0 |
| g | inoffice | ||||||||||
| LvHang | Director,GM | Currentlyinoffice | M | 60 | September7,2018 | September6,2021 | 0 | 0 | 0 | 0 | 0 |
| LouHong | Director | Currentlyinoffice | F | 53 | February9,2018 | September6,2021 | 0 | 0 | 0 | 0 | 0 |
| LouHong | CFO | Currentlyinoffice | F | 53 | January4,2018 | September6,2021 | 0 | 0 | 0 | 0 | 0 |
| HuYuming | Independentdirector | Currentlyinoffice | M | 56 | September7,2018 | September6,2021 | 0 | 0 | 0 | 0 | 0 |
| JiangDinghang | Independentdirector | Currentlyinoffice | M | 58 | September7,2018 | September6,2021 | 0 | 0 | 0 | 0 | 0 |
| ZhangDong | Independentdirector | Currentlyinoffice | M | 47 | September7,2018 | September6,2021 | 0 | 0 | 0 | 0 | 0 |
| GuoXiaodong | ChairmanoftheSupervisoryCommittee | Currentlyinoffice | M | 57 | September7,2018 | September6,2021 | 0 | 0 | 0 | 0 | 0 |
| ChenYangsheng | Supervisor | Currentlyinoffice | M | 58 | May4,2017 | September6,2021 | 0 | 0 | 0 | 0 | 0 |
| YangJianping | Supervisor | Currentlyinoffice | F | 49 | September7,2018 | September6,2021 | 0 | 0 | 0 | 0 | 0 |
| LiuHaicheng | Supervisor | Currentlyinoffice | F | 52 | September7,2018 | September6,2021 | 0 | 0 | 0 | 0 | 0 |
| ZhangZheng | Supervisor | Currentlyinoffice | M | 37 | September7,2018 | September6,2021 | 0 | 0 | 0 | 0 | 0 |
| TanZhong | DeputyPartysecretary | Currentlyinoffice | M | 53 | September7,2018 | September6,2021 | 0 | 0 | 0 | 0 | 0 |
| FengYu | DeputyGM | Currentlyinoffice | M | 54 | June17,2006 | September6,2021 | 0 | 0 | 0 | 0 | 0 |
| XieJing | DeputyGM | Currentlyinoffice | M | 56 | October25,2018 | September6,2021 | 0 | 0 | 0 | 0 | 0 |
| QiPeng | SecretaryoftheBoard | Currentlyinoffice | M | 48 | December28,2015 | September6,2021 | 0 | 0 | 0 | 0 | 0 |
| Total | -- | -- | -- | -- | -- | -- | 0 | 0 | 0 | 0 | 0 |
II.Changesofdirectors,supervisorsandseniorexecutives
□Applicable√NotapplicableIII.Post-holding
Professionalbackground,majorworkingexperienceandpresentmainresponsibilitiesinCompanyofdirectors,supervisorsandseniorexecutive
| Name | Mainworkexperienceandholdingthepost |
| FuChunlong | Bornin1973,Masterdegree,seniorhumanresourcesmanager.HeevertooktheDeputyTeamLeaderinWorkTeamofShenzhenSDGHuatongPackagingCo.,Ltd.,BusinessDeputyGeneralManager/GManddeputydirector/directorofHRDepartmentofShenzhenSDGCo.,Ltd.,andsupervisoroftheCompany.Now,heisDeputyGMofShenzhenSDGCo.,Ltd-controllingshareholderoftheCompanyandSupervisorofShenzhenState-OwnedDutyfreeCommodity(Group)Co.,LtdandChairmanoftheCompany |
| YuLei | Bornin1968,Masterdegree,acertifiedrealestateappraiserandrealestateeconomist.Shesuccessivelyservedas |
| secretaryoftheinternationalprojectcooperationdepartmentofBeijingChaoyanVocationEducationTrainingCenter,deputychief,chiefanddeputydirectorofLuohuBranch,theBureauofPlanningandLandofShenzhenMunicipality,thedeputydirectoranddirectorofState-ownedAssetsSupervisionandAdministrationCommissionofthePeople’sGovernmentofShenzhenMunicipality.NowsheservesasvicepresidentofthecontrollingshareholderoftheCompany-SDG,ChairmanofShenzhenMicrogateTechnologyCo.,Ltd.andDirectoroftheCompany | |
| ZhangQuanxun | Bornin1973,Masterdegree,hesuccessivelyservedasauditorandprojectmanagerinauditingdepartmentofShenzhenZhixingCPAOffice;theGMassistantofXiamenXingdaoFeiluInvestmentCo.,Ltd.,secretaryoftheBoard,GMassistantandstaffdirectorofFujianLogisticsInvestmentFinancingCo.,Ltd.;deputydirectorofXiamenProductivityPromotionCenter;directoroftheplasticbusinessdepartmentandstrategydevelopmentdepartmentofShenzhenTongchanPackageGroupandthedirectorofstrategyresearchandmergerdepartmentofSZCapital.NowheservesasdeputypresidentandmemberoftheinvestmentcommitteeofShenzhenCapitalFortuneInvestmentManagementCo.,Ltd.andDirectoroftheCompany |
| GuZhiming | Bornin1971,seniorgoldinvestmentanalyst,onceservedasanemployeeofthebusinessdepartmentofGuilinWanyaJewelleryCo.,Ltd.,businessdirectorofShenzhenChenzhixinJewelleryCo.,Ltd.,businessdirectorofthedomesticdivisionofLukfookGroup(International)Co.,Ltd.,generalmanagerofShenzhenJinglonJewelleryCo.,Ltd.,andChiefOperatingOfficerofShenzhenXingguangdaJewelleryCo.,Ltd.,andcurrentlyservesasthedeputygeneralmanagerofShenzhenYuepengGoldJewellery&GoldCo.,Ltd.,ChairmanandCEOofShenzhenLinkGoldTec&Co.,Ltd.andadirectoroftheCompany. |
| LvHang | Bornin1961,Masterdegree,aseniorpoliticaldivision.HesuccessivelyservedaslecturerandsecretaryoftheprincipalofShenzhenUniversity;thebusinessmanager,deputydirectoranddirectoroftheofficeofthePartyDept.ofShenzhenSDG;chairmanandGMofShenzhenSDGXiaomeishaTourismCenter;DirectorandGMofShenzhenTellusHoldingCo.,Ltd;GMofShenzhenSDGPropertyManagementCo.,Ltd.NowservedasDeputySecretaryofthePartyCommittee,directorandGMoftheCompanyetc. |
| LouHong | Bornin1968,aBachelordegreeandsenioraccount.Usedtoworkedasstaffofthefinancialdept.inSuzhouSilkIndustryCompanyandinShenzhenSoutheastSilkCo.,Ltd.;staffoftheaccounting&financialdept.ofShenzhenSpecialEconomicZoneDevelopment(Group)Companyandworkedinaccountingmanagementoffice;alsoworkedasdeputyGMofShenzhenSDGLianchengRealEstateDevelopmentCo.,Ltd.;managerofthefinancialdept.ofShenzhenSDGInvestmentCo.,Ltd.;thebusinessmanageranddeputydirectorinaccounting&financialdept.ofShenzhenSDGGroupCo.,Ltd.;CFOoftheShenzhenSDGRealEstateCo.,Ltd.andthedeputydirectoroftheplanningfinancialdept.OfShenzhenSDGandDirectorandCFOoftheShenzhenSDGXiaomeishaInvestmentDevelopmentCo.,Ltd.CurrentlyworksastheDirectorandCFOoftheCompany. |
| HuYuming | Bornin1965,adoctoralcandidateandaccountingprofessor.Hesuccessivelyservedasateachingassistant,lecturerandviceprofessorofXiamenUniversity,associateprofessoroftheschoolofmanagement,vicedirectoranddirectorofaccountingdepartmentofJinanUniversity,thedeputydeanoftheschoolofinternationalinstituteandschoolofmanagementoftheJinanUniversity.NowheservesastheprofessoranddoctoralsupervisorofschoolofmanagementoftheJinanUniversityandIndependentdirectoroftheCompany |
| JiangDinghang | Bornin1963,amasterdegreeandalawyer.HesuccessivelyservedastheministeroflegalconsultationdepartmentofShenzhenSocialSecurityBureau,deputydirectorofShenzhenLaborBureauOffice,directorofgeneralofficeofShenzhenSDG,GMoftheShenzhenSDGSongliCompany,GMoftheShenzhenCommunicationsIndustryCo.,LtdandapprenticelawyerofGuangdongZhongAnLawsFirm.NowheservesasseniorpartnerofShanghaiALLBRIGHT(Shenzhen)LawOfficeandIndependentdirectoroftheCompany. |
| ZhangDong | Bornin1974,adoctoralcandidate,postdoctoraleconomics,seniorEconomistandseniorgoldinvestmentanalyst.HesuccessivelyservedasDeputyGMofShenzhenQiangZhuangComputerTech.Co.,Ltd,DeputyGMofShenzhenBrainAgeEconomicandCulturalCo.,Ltd,theassistantpresidentofHongKongLeaderCultureMediaCo.,Ltd,GMofShenzhenZhongShiAdvertisingCo.,Ltd,GMofHeilongjiangLukKwaiFookJewelryLimitedandPresidentofLukKwaiFookJewelryGroup.NoheservesasexecutivedirectorofShenzhenYongtianShengdaoInvestmentDevelopmentCo.,Ltd.,presidentofShenzhenZhengyuanFoundationJewelryCo.,Ltd.andIndependentdirectoroftheCompany. |
| GuoXiaodong | Bornin1964,abachelordegreeandsenioreconomist.HesuccessivelyservedasassistantengineerofShuangliaoAgriculturalMachineryBureauinJilinProvince,engineerofFourthResearchLaboratoryofJilinInstituteofAgriculturalMachinery,managerofGaodaoindustrial(Shenzhen)Co.,Ltd.,ministeroftheengineeringdept.,deputyGMandGMofShenzhenSDGDevelopmentCenterPropertyManagementCompany,deputyGMofShenzhenSDGDevelopmentCenterConstructionSupervisionCompany,DirectorandGMofShenzhenSDGDevelopmentCenterPropertyManagementCompany,deputyGMofShenzhenSDGPropertyCo.,Ltd.,ChairmanoftheSupervisoryCommitteeofShenzhenSDRealEstateCo.,LtdandChairmanoftheSupervisoryCommitteeofShenzhenSDXiaomeishaTourismDevelopmentCo.,Ltd.NowheservesasChairmanofSupervisoryCommitteeoftheCompany |
| ChenYangsheng | Bornin1963,apostgraduateandsenioraccountant.Heeverservedasdeputydirector/directorofthefinancialdept.inShenzhenIndustrialProductsTradeGroupCompany;deputydirector/director/CFOofthefinancialdept.inShenzhenAokangdeGroupCompany;directorandCFOofShenzhenState-ownedDuty-FreeCommodity(Group)Company;directorandCFOofShenzhenAgriculturalProductsCo.,Ltd.andsupervisorofShenzhenTagenGroupCo.,Ltd.;nowheservesasdirectorandCFOofShenzhenSDGCo.,Ltd-controllingshareholderoftheCompany,andSupervisoroftheCompany. |
| YangJianping | Bornin1972,apostgraduateandcertifiedpublicaccountant.HeeverservedasBusinessmanagerofaccountingandfinancedepartmentofSDGI,financialmanagerofTaikeBranch,financialmanagerofGuanglanBranch,deputymanagerandmanageroftheaccounting&financedept;DirectorandCFOofShenzhenTellusHoldingCo.,Ltd.Nowheservesasdirectoroftheaccounting&financedeptofSDG-controllingshareholderoftheCompanyandSupervisoroftheCompany |
| LiuHaicheng | Bornin1969,apostgraduateandcertifiedpublicaccountant.Sheeverservedasstaffofdesigndept.ofDongfengAutoWheelCo.,Ltd.,staffoftechnicaldept.ofShenzhenDongfengMotorCo.,Ltd.,staffofthesecretariatofShenzhenAutomobileAssociation,operationsdept.staffoftheautomobiledivisionoftheCompany,staffofenterprisemanagementdept.anddeputymanageroftheCompany.Nowsheservesasmanageroftheenterprisemanagementdept.andsupervisoroftheCompany |
| ZhangZheng | Bornin1984,aBachelordegree.HesuccessivelyservedasseniorauditorofShenzhenBranchofShenzhenZhongqinWanxinAccountantAffairs,thefinancingcommissionerofplanning&financedept.ofSDG,deputymanageroftheplanning&financedept.oftheCompany.NowheservesasdeputymanageroftheauditsupervisiondepartmentandsupervisoroftheCompany |
| TanZhong | Bornin1968,hasabachelor’sdegreeandisqualifiedasalawyerandacorporatelegalconsultant,formerlyservedaslegalcounselanddeputymanageroftheEnterpriseManagementDepartmentofShenzhenAutomobileIndustryandTradeCorporation,deputydirectoroftheboardsecretary,legalaffairsrepresentative,andmanageroftheenterprisemanagementdepartmentoftheCompany,generalmanagerandgeneralPartybranchsecretaryofShenzhenSDHuariAutomobileEnterpriseCo.,Ltd.,andcurrentlyservesasthefull-timedeputysecretaryofthePartyCommitteeoftheCompany. |
| FengYu | Bornin1967,bachelor’sdegree.HeevertookthedeputydirectorofHaichengForeignEconomicandTradeCommissionofLiaoningProvince,directorofliaisondepartmentofYouthPresidentCommitteeofState-ownedAssetsAdministration,DeputyGMofShenzhenXiankeReal-estateCo.,Ltd.,ManagerofInvestmentDepartmentofChinaSportsGroupIndustryCo.,Ltd.;DeputydirectorandDirectortotheOfficeofGeneralMangerofShenzhenSDGCo.,Ltd;andSupervisoroftheCompany.Now,heactsasDeputyGeneralManageroftheCompany |
| XieJing | Bornin1965,acitizenshipofCanadian,bachelor’sdegree,andaseniorengineer,nationalregisteredsupervisionengineer.HesuccessivelyservedasstructuralengineerofHunanLightIndustryDesignInstitute,engineeroftheHunanBranchofBankofChina,assistantGMoftherealestatedept.andGMofEngineeringdepartmentofSDG,deputyGMofShenzhenJinchengRealEstateGroupCo.,Ltd.,theexecutivepresidentofShenzhenJiaandaGroupandGMetc.ofthelandreservecenterofWeiyeHolding.CurrentlyheservesasDeputyGMoftheCompany. |
| QiPeng | Bornin1973,master'sdegree,economist,hehasobtainedthequalificationcertificateofsecretaryoftheboardfromShenzhenStockExchange.HesuccessivelyservedassecretarytothepresidentanddirectorininformationcenterofShenzhenSpecialEconomicZoneDevelopment(Group)Co.,Ltd.;deputydirectorinsecretariatoftheboard,anddeputymanagerinenterprisedevelopmentdepartment,andmanagerinautomobilebusinessdepartmentandmanagementdepartmentofShenzhenTellus(Group)Co.,Ltd.;generalmanagerofShenzhenTellusAutomobileServiceChainCo.,Ltd.;generalmanagerofShenzhenTellusNewYongtongAutomobileDevelopmentCo.,Ltd.;directorsecretariatoftheboardofShenzhenTellus(Group)Co.,Ltd.;andnowchairmanofShenzhenJewelryIndustryServiceCo.,LTD.,GMofShenzhenTellusTreasureSupplyChainTech.Co.,Ltd.andsecretaryoftheboardoftheCompany |
Post-holdinginshareholder’sunit
√Applicable□Notapplicable
| Name | Nameofshareholder’sunit | Positioninshareholder’sunitn | Startdatedofofficeterm | Enddateofofficeterm | Receivedremunerationfromshareholder’sunit(Y/N) |
| FuChunlong | ShenzhenSpecialDevelopmentGroupCo.,Ltd. | DeputyGM | December1,2017 | Y | |
| YuLei | ShenzhenSpecialDevelopmentGroupCo.,Ltd. | DeputyGM | August1,2011 | Y | |
| ChenYangsheng | ShenzhenSpecialDevelopmentGroupCo.,Ltd. | CFO | December1,2016 | Y | |
| YangJianping | ShenzhenSpecialDevelopmentGroupCo.,Ltd. | Directorofplanning&financedept. | January1,2018 | Y | |
| Post-holdinginshareholder’sunit | N/A | ||||
Post-holdinginotherunit
√Applicable□Notapplicable
| Name | Nameofotherunits | Positionin | Startdatedofofficeterm | Enddateof | Received |
| otherunitn | officeterm | remunerationfromotherunit(Y/N) | |||
| ZhangQuanxun | ShenzhenCapitalFortuneInvestmentManagementCo.,Ltd. | DeputyPresident | February1,2013 | Y | |
| GuZhiming | ShenzhenYuePengJinJewelryCo.,Ltd | DeputyGM | May1,2011 | Y | |
| HuYuming | JinanUniversity | professorofschoolofmanagementanddoctoralsupervisor | June1,2003 | Y | |
| JiangDinghang | ShanghaiALLBRIGHT(Shenzhen)LawOffice | Seniorpartner | April1,2005 | Y | |
| ZhangDong | ShenzhenYongtianShengdaoInvestmentDevelopmentCo.,Ltd. | ExecutiveDirector | April1,2014 | Y | |
| Post-holdinginotherunit | N/A | ||||
PunishmentofsecuritiesregulatoryauthorityinrecentthreeyearstotheCompany’scurrentandoutgoingdirectors,supervisorsandseniormanagementduringthereportingperiod
□Applicable√Notapplicable
IV.Remunerationfordirectors,supervisorsandseniorexecutives
Decision-makingprocedures,recognitionbasisandpaymentfordirectors,supervisorsandseniorexecutivesDecision-makingprocedures,recognitionbasisandpaymentfordirectors,supervisorsandseniorexecutivesexecutesinstrictaccordancewiththe"SalaryManagementSystemforHeadquartersofShenzhenTellus(Group)Co.,Ltd.","StaffPerformanceManagementSystemforHeadquartersofShenzhenTellus(Group)Co.,Ltd.","ImplementingRulesofRemunerationandAppraisalCommitteeoftheBoardofShenzhenTellus(Group)Co.,Ltd.","AnnualPerformanceManagementApproachesforLeadingGroupMembersofShenzhenTellus(Group)Co.,Ltd."andotherrelevantsystemregulations.
Remunerationfordirectors,supervisorsandseniorexecutivesinreportingperiod
In10thousandYuan
| Name | Title | Sex | Age | Post-holdingstatus | TotalremunerationobtainedfromtheCompany(beforetaxes) | WhetherremunerationobtainedfromrelatedpartyoftheCompany |
| FuChunlong | Chairman | M | 48 | Currentlyinoffice | 71.03 | Y |
| YuLei | Director | F | 53 | Currentlyinoffice | 0 | Y |
| ZhangQuanxun | Director | M | 48 | Currentlyinoffice | 0 | N |
| GuZhiming | Director | M | 50 | Currentlyinoffice | 0 | N |
| LvHang | Director,GM | M | 60 | Currentlyinoffice | 108.39 | N |
| LouHong | Director,CFO | F | 53 | Currentlyinoffice | 88.45 | N |
| HuYuming | Independentdirector | M | 56 | Currentlyinoffice | 8 | N |
| JiangDinghang | Independentdirector | M | 58 | Currentlyinoffice | 8 | N |
| ZhangDong | Independentdirector | M | 47 | Currentlyinoffice | 8 | N |
| GuoXiaodong | ChairmanoftheSupervisoryCommittee | M | 57 | Currentlyinoffice | 33.34 | Y |
| ChenYangsheng | Supervisor | M | 58 | Currentlyinoffice | 0 | Y |
| YangJianping | Supervisor | F | 49 | Currentlyinoffice | 0 | Y |
| LiuHaicheng | Employeesupervisor | F | 52 | Currentlyinoffice | 45.24 | N |
| ZhangZheng | Employeesupervisor | M | 37 | Currentlyinoffice | 35.26 | N |
| TanZhong | DeputyPartysecretary | M | 53 | Currentlyinoffice | 77.56 | N |
| FengYu | DeputyGM | M | 54 | Currentlyinoffice | 86.01 | N |
| XieJing | DeputyGM | M | 56 | Currentlyinoffice | 87.58 | N |
| QiPeng | SecretaryoftheBoard | M | 48 | Currentlyinoffice | 59.01 | N |
| Total | -- | -- | -- | -- | 715.87 | -- |
Delegatedequityincentivefordirectorsandseniorexecutivesinreportingperiod
□Applicable√Notapplicable
V.Particularsofworkforce
1.NumberofEmployees,Professionalcomposition,Educationbackground
| Employeein-postoftheparentCompany(people) | 107 |
| Employeein-postofmainSubsidiaries(people) | 195 |
| Thetotalnumberofcurrentemployees(people) | 302 |
| Thetotalnumberofcurrentemployeestoreceivepay(people) | 302 |
| Retiredemployee’sexpensesbornebytheparentCompanyandmainSubsidiaries(people) | 1 |
| Professionalcomposition | |
| Categoryofprofessionalcomposition | Numbersofprofessionalcomposition(people) |
| Productionpersonnel | 39 |
| Salespersonnel | 82 |
| Technician | 39 |
| Financialstaff | 27 |
| Administrationstaff | 115 |
| Total | 302 |
| Educationbackground | |
| Typeofeducationbackground | Numbers(people) |
| Master | 31 |
| Bachelordegree | 82 |
| Juniorcollege | 65 |
| Other | 124 |
| Total | 302 |
2.RemunerationPolicyThecompanystrictlycomplieswiththe"ImplementationRulesoftheRemunerationandAppraisalCommitteeoftheBoardofDirectorsofShenzhenTellusHoldingCo.,Ltd.","RemunerationPerformanceManagementMeasuresforTeamMembersofShenzhenTellusHoldingCo.,Ltd.","RemunerationManagementSystemofHeadquartersStaffofShenzhenTellusHoldingCo.,Ltd.","PerformanceManagementMeasuresforHeadquartersStaffofShenzhenTellusHoldingCo.,Ltd."andotherrelevantrulesandregulations,strictlyimplementsperformanceevaluation,andpaysremunerationaccordingtotheevaluationresults.
3.TrainingprogramsTheannualtrainingworkfocusesontheimprovementofmiddle-levelmanagersandmanagementskills,theimprovementoftheprofessionalskillsofreservetalentsandcorebackbones.Intheactualtrainingwork,wewillcontinuouslyenrichthetrainingcontents,expandthetrainingform,optimizethetrainingprocess,clarifythetrainingpurpose,andimprovethetrainingeffect.Thespecificmeasuresareasfollows:firstly,enrichtheentrylearningdatabasefornewemployees,andacceleratetheintegrationofnewemployeesintothecompany;secondly,strengthentheprofessionaltrainingofgrassrootsemployees,andimprovethequalityofemployees;thirdly,strengthendepartmentaltrainingquotamanagement,andimprovetheuseefficiencyoftrainingfunds;fourthly,optimizetherewardsrulesofnetworkcollege,andcontinuouslyimprovethelearningatmosphere;thefifthistorefinethemanagementabilityrequirementsandcarryouttargetedtrainingformiddle-levelmanagerstoimprovemanagementcapabilities;thesixthistofocusonexternaltrainingandconductstrategicmanagementskillstrainingtoenhancethehorizonsofseniorpersonnel.
4.Laboroutsourcing
√Applicable□Notapplicable
| Totalhoursoflaboroutsourcing(hours) | 2,000 |
| Totalremunerationpaidforlaboroutsourcing(RMB) | 109,310.59 |
Note:foralargenumberofoutsourcedlaborservices,totalnumberofhoursworkedandtotalremunerationpaidfortheoutsourcedlabourservicesshouldbedisclosed.
SectionX.CorporateGovernanceI.CorporategovernanceoftheCompany
Duringthereportingperiod,theCompanyhasbeenobservingthelawsandregulationsasCompanyLaw,SecuritiesLaw,GovernanceCriteriaoftheListedCompanies,GuidelinesforStandardizedOperationofListedCompaniesofShenzhenStockExchangeandrelevantrulesissuedbytheCSRC,forthepurposeofimprovingitslegalpersongovernancestructure,settingupandimprovingtheinternalcontrolsystem,andstandardizingitsoperationlevel.AccordingtotheArticlesofAssociation,ProcedureRulesofShareholdersGeneralMeeting,ProcedureRulesofBoardofDirectors,ProcedureRulesofSupervisoryCommittee,WorkingRulesofIndependentDirectors,WorkingRulesofGeneralManager,workingrulesofeverycommitteeoftheBoardandaseriesofrulesandregulations,theCompanymaintainedformalprocedures,clearlydutiesandobligationsofitsgeneralmeeting,boardofdirectors,supervisorycommittee,eachspecializedcommitteeoftheboardandseniormanager.Eachofitsdirectors,supervisorsandseniormanagerscanperformtheirdutiesearnestly.In2020,theCompanyhaveconvened5shareholdersgeneralmeetings,12meetingsoftheBoard,5meetingoftheSupervisoryCommittee,2meetingsoftheauditcommitteeoftheBoard,3meetingsofStrategyCommitteeoftheBoardand2meetingsofRemunerationandAppraisalCommitteeoftheBoard;relevantgovernancedocumentsasInternalAuditManagementMeasuresandInvestmentManagementRegulationsetc.arebeingrevised;Inordertoestablishandimprovethecompany’sstandardizedoperationmechanismandimprovethecompany’sinternalcontrolsystem,thecompanypromotedtherevision,promulgationandabolitionofthesysteminaccordancewiththeestablishedsystemconstructionworkplan,andrevisedanumberofrulesandregulationsthroughouttheyear.Asoftheendofthereportingperiod,theactualsituationofcorporategovernancewasinlinewiththerequirementsoftheregulatorydocumentsissuedbytheChinaSecuritiesRegulatoryCommissiononthegovernanceoflistedcompanies.IsthereanydifferencebetweentheactualconditionofcorporategovernanceandrelevantregulationsaboutcorporategovernanceforlistedCompanyfromCSRC?
□Yes√NoTherearenodifferencesbetweentheactualconditionofcorporategovernanceandrelevantregulationsaboutcorporategovernanceforlistedCompanyfromCSRC.II.IndependentoftheCompanyrelativetocontrollingshareholders’inaspectofbusinesses,personnel,assets,organizationandfinanceTheCompanyhasbeenindependentfromthecontrollingshareholdersintermsofbusiness,personnel,asset,institutionandfinance.TheCompanyhasindependentandcompletebusinessandisabletooperate
independently.(i)Business:theCompanybelongstoindependentlegalpersonentity.Beingcompletelyindependentfromcontrollingshareholders,ithasindependentandcompletebusinesssystemandisabletooperateindependently.TheCompanyhasindependentproduction,salesandservicesystemsanditsmajorbusiness.Thereisnointer-competitionbetweentheCompanyanditscontrollingshareholdersandrelatedparties.(ii)Personnel:theCompanyestablishescompletelabor,humanresourcesandsalarymanagementsystems.SeniorexecutiveasGM,DeputyGM,CFOandSecretaryoftheBoardetc.arereceivesremunerationfromtheCompanysincetheyareemployedbytheCompany,andnoonetakespositionintheenterprisesownedbyshareholders.(iii)Assets:TheCompanyindependentlyandcompletelyownsthebusinesssystemandunderlyingassetsrelatedtotheoperation,andindependentlyregisters,establishesaccounts,adjustsaccountsandmanagestheassets,andtheassetsareindependentofthecontrollingshareholdersandotherenterprisescontrolledbythem.(iv)Finance:theCompanyhasindependentfinancialaccountingdepartmentwhichsetindependentaccountingcalculationsystemandfinancemanagementsystem.NocontrollingshareholderintervenesinthecapitalapplicationoftheCompany.TheCompanyopensseparatebankaccounts.NocapitalissavedinthefinancialCompanyorsettlementcenteraccountcontrolledbysubstantialshareholderorotherrelatedparties;theCompanydoesnotsharebankaccountwithcontrollingshareholdersandotherenterpriseundertheircontrol.AndTheCompanypaystaxesbylawindependently.(v)Institution:theboard,thesupervisorycommitteeandotherinternalinstitutionsoftheCompanyoperateindependently.AlltheinstitutionsoftheCompanyaresetaccordingtothestandardsrequirementsapplicabletolistedCompanyandactualbusinessnaturesoftheCompany.Ithasindependentofficelocation.
III.Horizontalcompetition
□Applicable√Notapplicable
IV.Inthereportperiod,theCompanyheldannualshareholders’generalmeetingandextraordinaryshareholders’generalmeeting
1.AnnualShareholders’GeneralMeetinginthereportperiod
| Sessionofmeeting | Type | Ratioofinvestorparticipation | MeetingDate | Dateofdisclosure | Indexofdisclosure |
| FirstExtraordinaryGeneralMeetingof2020 | ExtraordinaryGeneralMeeting | 66.07% | March23,2020 | March24,2020 | ”ResolutionNoticeofFirstExtraordinaryGeneralMeetingof2020”(No.:2020-013)publishedonSecuritiesTimes,HongKongCommercialDailyandJuchaoWebsite(www.cninfo.com.cn |
| AnnualGeneral | Annual | 66.10% | April24, | April25,2020 | “ResolutionNoticeofAnnualGeneral |
| Meetingof2019 | GeneralMeeting | 2020 | Meetingof2019”(No.:2020-025)publishedonSecuritiesTimes,HongKongCommercialDailyandJuchaoWebsite(www.cninfo.com.cn) | ||
| SecondExtraordinaryGeneralMeetingof2020 | ExtraordinaryGeneralMeeting | 65.78% | June17,2020 | June18,2020 | ”ResolutionNoticeofSecondExtraordinaryGeneralMeetingof2020”(No.:2020-032)publishedonSecuritiesTimes,HongKongCommercialDailyandJuchaoWebsite(www.cninfo.com.cn |
| ThirdExtraordinaryGeneralMeetingof2020 | ExtraordinaryGeneralMeeting | 65.19% | August3,2020 | August4,2020 | ”ResolutionNoticeofThirdExtraordinaryGeneralMeetingof2019”(No.:2020-041)publishedonSecuritiesTimes,HongKongCommercialDailyandJuchaoWebsite(www.cninfo.com.cn |
| FourthExtraordinaryGeneralMeetingof2020 | ExtraordinaryGeneralMeeting | 64.51% | November16,2020 | November17,2020 | ”ResolutionNoticeofFourthExtraordinaryGeneralMeetingof2020”(No.:2020-050)publishedonSecuritiesTimes,HongKongCommercialDailyandJuchaoWebsite(www.cninfo.com.cn |
2.Requestforextraordinarygeneralmeetingbypreferredstockholderswhosevotingrightsrestore
□Applicable√Notapplicable
V.Responsibilityperformanceofindependentdirectors
1.TheattendingofindependentdirectorstoBoardmeetingsandgeneralmeeting
| TheattendingofindependentdirectorstoBoardMeetingandshareholdersgeneralmeeting | |||||||
| Nameofindependentdirector | TimesofBoardmeetingsupposedtoattendinthereportperiod | TimesofPresence | Timesofattendingbycommunication | Timesofentrustedpresence | TimesofAbsence | AbsenttheMeetingforthesecondtimeinarow(Y/N) | Timesofattendingshareholders’meeting |
| HuYuming | 12 | 2 | 10 | 0 | 0 | N | 1 |
| JiangDinghang | 12 | 2 | 10 | 0 | 0 | N | 4 |
| ZhangDong | 12 | 2 | 10 | 0 | 0 | N | 3 |
2.Objectionforrelevanteventsfromindependentdirectors
IndependentdirectorscomeupwithobjectionaboutCompany’srelevantmatters
□Yes√NoIndependentdirectorshasnoobjectionsforrelevanteventsinreportingperiod
3.OtherexplanationaboutresponsibilityperformanceofindependentdirectorsTheopinionsfromindependentdirectorshavebeenadopted
√Yes□NoInaccordancewiththeprovisionsoftheCompanyLaw,theSecuritiesLaw,theStockListingRules,theIndependentDirectorSystemandotherrelevantlawsandregulations,thecompany’sindependentdirectorspaidattentiontothenormalizationofthecompany’soperations,performedtheirdutiesindependently,diligentlyandconscientiouslydidtheirduties,theindependentdirectorsissuedindependent,objectiveandfairopinionsoninvestmentinbondedbusinessgroupprojects,profitdistributionmatters,self-evaluationofthecompany’sinternalcontrol,dailyrelatedtransactionsin2020,revisethemonetaryfundmanagementsystem,regardingthecompany'sapplicationforcreditline,theuseofidleself-ownedfundstopurchasebankwealthmanagementproducts,changesinaccountingestimatesandaccountingpolicies,changingauditinstitutionsfor2020,purchaseoflistedcompanydirectorsandsupervisorshighliabilityinsurance,andothermattersrequiringindependentopinionsfromindependentdirectorsduringthereportingperiod,whichplayedanactiveroleinimprovingthecompany’ssupervisionmechanismandhelpingtheboardofdirectorsmakescientificandobjectivedecisions,andplayedanimportantroleinsafeguardingthelegitimaterightsandinterestsofthecompanyandallshareholders.VI.DutyperformanceofthespecialcommitteesundertheboardduringthereportingperiodBoardofDirectoroftheCompanyhavethreespecialcommitteesasstrategiccommittee,auditingcommitteeandremunerationandappraisalcommittee,andformulatedimplementationrulesforthespecialcommitteesindependently.Duringthereportingperiod,allcommitteeshadclearresponsibilitiesandtheoveralloperationsweregood,whichensuredefficientoperationandscientificdecision-makingoftheboardofdirectors.
1.DutyperformanceofthestrategiccommitteeThestrategiccommitteeoftheboardisspeciallyset-upaccordingtotheregulationofGovernanceCriteriaoftheListedCompanies,responsibleforstudyonthelongtermdevelopmentstrategyandmaterialinvestmentdecisionsandraisingitsrecommendations.Thecommitteecomprisedof5directors,andthecommitteeischairedbychairmanoftheCompany.Duringthereportingperiod,thecommitteeactivelyperformeditsduties,andcarryoutworksstrictlyinaccordancewithrelevantrulesoftheCSRC,ShenzhenStockExchangeandWorkingRulesofStrategicCommittee.Threemeetingswereheldbystrategiccommitteein2020,whichincluding:
Thefirstmeetingoftheboard’sstrategiccommitteein2020washeldonJune1,2020,itreviewedtheProposalonParticipatingintheequitytransferauctionofShenzhenDongfengMotorCo.,LtdandMajorAssetsRestructuring;thesecondmeetingoftheboard’sstrategiccommitteein2020washeldonJune19,2020,itreviewedtheProposaltoInvestintheBondedBusinessGroupProject;thethirdmeetingoftheboard’sstrategiccommitteein2020washeldonJuly17,2020,itreviewedtheProposalonWaiverofPre-emptiveRightstothe
50%EquityofShenzhenDongfengMotorCo.,LtdfromShenzhenAutoIndustryandTradeCorporation;Eachcommitteemembermaderesearchontheinvestmentprojectandofferedproposals,whichplayedanimportantroleinstrengtheningthescientificityofinvestmentdecisionandimprovingthebenefitsandqualityofinvestmentdecision..
2.DutyperformanceoftheauditcommitteeTheauditcommitteeoftheboardofdirectorsisaspecializedworkorganizationsetupbytheboardofdirectorsinaccordancewiththeGuidelinesfortheGovernanceofListedCompanies,andismainlyresponsibleforthecommunication,supervisionandverificationofinternalandexternalauditsofthecompany.Thecommitteecomprisedof5directors,including3independentdirectors,andthecommitteeischairedbyindependentdirectoroftheCompany.Duringthereportingperiod,thecommitteeactivelyperformeditsduties,andcarryoutworksstrictlyinaccordancewithrelevantrulesoftheCSRC,ShenzhenStockExchangeandWorkingRulesofAuditCommittee.Paycloseattentiontothecompany’smanagement,financingandimplementationofinternalcontrolstandards;strengthenthecommunicationandcontactwiththecompany’srelevantresponsibledepartments,reviewthevalidityassessmentofthecompany’sinternalcontrolandenterpriseriskmanagementthroughcommunication,inspection,reporting,etc.,andcheckwhetherthecompany’soperations,financingandaccountingpoliciescomplywithlawsandregulations,andprovidemanagementandauditopinions.Twomeetingswereheldbyauditcommitteein2020,whichincluding:
(1)Duringtheannualaudit,theauditcommitteetookactiveattitudeinrelevantworks.Priortotheofficialinvolvementofaccountingfirmintheannualaudit,afternegotiationwithaccountingfirm,reviewedthefinancialstatementspreparedbytheCompany,thecommitteeagreedtosubmitthefinancialstatementsandrelatedinformationtoaudit.
(2)Theauditcommitteeheldthefirstmeetingof2020on2April2020tore-reviewthefinancialstatements,andformedwrittenopinionsandresolutionsinrespectoftheannualfinancialstatements,auditworksummaryreport.
(3)Theauditcommitteeheldthesecondmeetingof2020on28October2020toreviewtheproposalofchangingtheannualauditinginstitution,andagreedtosubmitfordeliberationontheBoard.
3.DutyperformanceoftheremunerationandappraisalcommitteeTheremunerationandappraisalcommitteeoftheboardofdirectorsisaspecializedworkingorganizationsetupbytheboardofdirectorsinaccordancewiththeGuidelinesfortheGovernanceofListedCompanies,itismainlyresponsibleforformulatingtheassessmentcriteriaforthecompany’sdirectorsandseniormanagementpersonnelandmakingtheassessment,responsibleforformulatingandreviewingthepaypolicyandprogramsofthecompany’sdirectorsandseniormanagementpersonnel,andresponsiblefortheboardofdirectors.Thecommitteecomprisedof5directors,including3independentdirectors,andthecommitteeischairedbyindependentdirectoroftheCompany.Duringthereportingperiod,thecommitteeactivelyperformeditsduties,andcarryoutworksstrictlyinaccordancewithrelevantrulesoftheCSRC,ShenzhenStockExchangeandWorkingRulesofAuditCommittee.Thecommitteecomprisedof5directors,including3independentdirectors,andthecommitteeischairedbyindependentdirectoroftheCompany.Duringthereportingperiod,thecommitteeactivelyperformed
itsduties,andcarryoutworksstrictlyinaccordancewithrelevantrulesoftheCSRC,ShenzhenStockExchangeandWorkingRulesofAuditCommittee.Twomeetingswereheldbyremunerationandappraisalcommitteein2020,whichincluding:
TheremunerationoftheBoardheldtheFirstmeetingof2020on2April2020toreviewtheproposalon2020TeamMemberPerformanceIndicators.On4August2020,theremunerationandappraisalcommitteeoftheboardofdirectorsheldthesecondmeetingof2020,reviewedandapprovedtheassessmentresultsofsomeprobationaryseniormanagementpositionsandrevisedthemanagementofannualperformanceappraisalsfordirectors,supervisorsandseniormanagementoftheCompany,afterreview,allmembersoftheremunerationandappraisalcommitteeconsideredthattheremunerationpaymentduringthereportingperiodwasinlinewiththecompany’sperformanceappraisalsystem,theremunerationofdirectors,supervisorsandseniorexecutivesweredeterminedbythecompany’srelevantsystem.
VII.WorksfromSupervisoryCommittee
TheCompanyhasrisksinreportingperiodthatfoundinsupervisoryactivityfromsupervisorycommittee
□Yes√NoSupervisorycommitteehasnoobjectionaboutsupervisioneventsinreportingperiod
VIII.Examinationandincentivesofseniormanagement
Inthereportingperiod,theannualperformanceofseniorexecutivesoftheCompanyhavebeenevaluatedbytheBoardaccordingtotheManagementMethodsonTeamMember’sRemunerationandPerformance,remunerationshallbepayinlinewiththeresults.IX.InternalControl(IC)
1.DetailsofmajordefectsinICappraisalreportthatfoundinreportingperiod
□Yes√No
2.AppraisalReportofInternalControl
| Disclosuredateoffullinternalcontrolevaluationreport | April16,2021 |
| Disclosureindexoffullinternalcontrolevaluationreport | JuchaowebsiteforinformationdisclosureappointedbyShenzhenStockExchange:http://www.cninfo.com.cn |
| TheratioofthetotalassetsofunitsincludedinthescopeofevaluationaccountingforthetotalassetsontheCompany'sconsolidatedfinancialstatements | 100.00% |
| TheratiooftheoperatingincomeofunitsincludedinthescopeofevaluationaccountingfortheoperatingincomeontheCompany'sconsolidatedfinancialstatements | 100.00% | |
| DefectsEvaluationStandards | ||
| Category | FinancialReports | Non-financialReports |
| Qualitativecriteria | Thequalitativestandardsfortheevaluationofinternalcontroldeficienciesinfinancialreportsdeterminedbythecompanyareasfollows:Significantdefects:Individualdefectsortogetherwithotherdefectscausingthematerialmisstatementsinfinancialreportscannotbetimelypreventedorfoundorcorrected.Itisrecognizedasasignificantdefectiffollowingcaseshappen:①Fraudofmanagementleadingtomaterialmisstatementsoffinancialresultsorfalsefinancialreports,whichmisleadusersoffinancialstatementsandresultindecision-makingmistakesandlitigation;②Ineffectivecontrolenvironment;③Majorinternalcontroldeficienciesfoundandreportedtothemanagementbuthaven’tbeencorrectedafterareasonabletime;④Thedecision-makingoftheCompany’smajormattershasnotfulfilledthecorrespondingdecision-makingprocess,resultinginsignificantlossesoftheCompany;⑤ImportantbusinessesinvolvingtheCompany’sproductionandmanagementarelackofeffectivecontrol;⑥Otherdefectsthatseriouslymisleadthecorrectjudgmentsmadebytheusersofthestatements,resultinginthecompany’smajorcompensation.Importantdefects:Individualdefectsortogetherwithotherdefectscausingthemisstatementsinfinancialreportscannotbetimelypreventedorfoundorcorrected,thoughthemisstatementsdon’treachandexceedtheimportancelevel,theyshouldstillcausethemanagement’sattention.Itis | Thequalitativestandardsforevaluatingtheinternalcontroldeficienciesofnon-financialreportsdeterminedbythecompanyareasfollows:Thefollowingcircumstancesshallbedeemedasamajordefect:①GreatdecisionsviolatetheCompany’sestablishedprocedure,resultinginsignificantlossestotheCompany;②SeriousviolationoflawsandregulationsresultsinsignificantlossestotheCompany;③Importantbusinessesarelackofsystemcontrolorsystemcontrolfails;④Seriousbraindrainofcoremanagementorcoretechnicalstaff;⑤Significantdeficienciesintheinternalevaluationresultshavenotbeencorrected.⑥Thefailureofinternalcontroltoinformationdisclosurecausesthecompanytobepubliclycondemnedbytheregulatoryauthorities.Defectswiththefollowingcharacteristicsareregardedasimportantdefects:①TheCompanyviolatestheenterpriseinternalregulationsandcausessignificantlosses;②SeriousbraindrainofbusinesspersonnelintheCompany’skeypositions;③TheCompany’ssignificantbusinesssystemshavedeficiencies;④ThesignificantdeficienciesintheinternalcontroloftheCompanyhavenotbeen |
| recognizedasanimportantdefectiffollowingcaseshappen:①Theselectionandapplicationofaccountingpoliciesdonotfollowthegenerallyacceptedaccountingprinciples;②Anti-fraudprogramsandcontrolmeasureshavebeennotestablished;③Correspondingcontrolmechanismforaccountshandlingofunconventionalorspecialtransactionshasnotbeenestablishedorimplementedandhasnothereisnoappropriatecompensatorycontrols;④Thecontrolstotheperiod-endfinancialreportingprocesshaveoneormoredefectsandcannotreasonablyensurethatthefinancialstatementspreparedaretrueandaccurate.Generaldeficienciesrefertothedeficienciesexceptformajorandsignificantdeficiencies. | corrected.Generaldeficienciesrefertodeficienciesexceptformajorandsignificantdeficiencies.Thequantitativedeterminationstandardforinternalcontroldeficienciesthisyearisbasedontheconsolidatedstatementdataforthesameperiodofthepreviousyear. | |
| Quantitativestandard | 1.Majordeficiencies:misstatementamount>10%oftotalprofit,andabsoluteamount>2millionYuan;2.Significantdeficiencies:5%oftotalprofit<misstatementamount≤10%oftotalprofit,andabsoluteamount>1millionYuan;or1millionYuan<absoluteamount≤2millionYuan,andmisstatementamount>5%oftotalprofit.3.Generaldeficiencies:misstatementamount≤5%oftotalprofit,orabsoluteamount≤1millionYuan | 1.Majordeficiencies:lossamount>1.5%ofowner'sequityattributabletoparentCompany,andabsoluteamount>5millionYuan;2.Significantdeficiencies:0.5%ofowner'sequityattributabletoparentCompany<lossamount≤1.5%ofowner'sequityattributabletoparentCompany,or1millionYuan<absoluteamount≤5millionYuan;3.Generaldeficiencies:lossamount≤0.5%ofowner'sequityattributabletoparentCompany,orabsoluteamount≤1millionYuan |
| Amountofsignificantdefectsinfinancialreports | 0 | |
| Amountofsignificantdefectsinnon-financialreports | 0 | |
| Amountofimportantdefectsinfinancialreports | 0 | |
| Amountofimportantdefectsinnon-financialreports | 0 | |
X.Auditingreportofinternalcontrol
√Applicable□Notapplicable
| DeliberationsinInternalControlAuditReport | |
| Weconsiderthat:inallmajoraspects,ShenzhenTellusHoldingCo.,Ltd.hasefficiencyinfinancialreportofinternalcontroldated31December2020accordingtoBasicStandardsofInternalControlforEnterpriseandrelevantregulations. | |
| Disclosuredetailsofauditreportofinternalcontrol | Disclosure |
| Disclosuredateofauditreportofinternalcontrol(full-text) | April16,2021 |
| Indexofauditreportofinternalcontrol(full-text) | JuchaowebsiteforinformationdisclosureappointedbyShenzhenStockExchange:http://www.cninfo.com.cn |
| OpiniontypeofauditingreportofIC | Standardunqualifiedopinion |
| whetherthenon-financialreporthadmajordefects | No |
CarriedoutmodifiedopinionforinternalcontrolauditreportfromCPA
□Yes√NoTheinternalcontrolauditreport,issuedbyCPA,hasconcertedopinionwithself-evaluationreport,issuedfromtheBoard
√Yes□No
SectionXI.CorporateBondWhethertheCompanyhasacorporationbondsthatissuancepubliclyandlistedonstockexchangeandwithoutdueonthedatewhenannualreportapprovedforreleasedorfailtocashinfullondueNo
SectionXII.FinancialReportI.Auditreport
| Typeofauditopinion | Standardunqualifiedopinion |
| Signingdateofauditreport | April15,2021 |
| Nameofauditinstitute | RSMCertifiedPublicAccountants(SpecialGeneralPartnership) |
| NumberofAuditreport | RSMShenZi[2021]No.518Z0303 |
| NameofCPA | LiQiaoyi,QinChangming |
Auditor’sReport
TotheShareholdersofShenzhenTellusHoldingCo.,Ltd.:
I.AuditingopinionsWehaveauditedthefinancialstatementunderthenameofShenzhenTellusHoldingCo.,Ltd.(hereinafterreferredtoasTellusCompany),includingtheconsolidatedandparentCompany’sbalancesheetof31December2020andprofitstatement,andcashflowstatement,andstatementonchangesofshareholders’equityfortheyearended,andnotestothefinancialstatementsfortheyearended.Inouropinion,theattachedfinancialstatementsareinallmaterialrespectsinaccordancewiththeprovisionofAccountingStandardsforBusinessEnterprises,andtheyfairlypresentthefinancialstatusoftheCompanyandofitsparentcompanyasof31December2020anditsoperationresultsandcashflowsfortheyearended.II.BasisofopinionWeconductedourauditinaccordancewiththeAuditingStandardsforCertifiedPublicAccountantsofChina.Ourresponsibilitiesunderthosestandardsarefurtherdescribedinthe“Auditor’sResponsibilitiesfortheAuditoftheFinancialStatements”sectionoftheauditor’sreport.WeareindependentoftheCompanyinaccordancewiththeCertifiedPublicAccountantsofChina’sCodeofEthicsforProfessionalAccountants,andwehavefulfilledourotherethicalresponsibilitiesinaccordancewiththeCode.Webelievethattheauditevidencewehaveobtainedis
sufficientandappropriatetoprovideabasisforouropinion.III.KeyauditmattersKeyauditmattersarethosemattersthat,inourprofessionaljudgment,wereofmostsignificanceinourauditofthefinancialstatementsofthecurrentperiod.Thesematterswereaddressedinthecontextofourauditofthefinancialstatementsasawhole,andinformingouropinionthereon,andwedonotprovideaseparateopiniononthesematters.(i)Revenuerecognition
1.MatterdescriptionFoundmoreinthe34inNoteVandNoteXIVcarriedinfinancialstatementOperatingrevenueofTellusismainlyderivedfromautomobilesales,automotiverepair&testing,jewellerysales&service,realestateleasingandservices.In2020,Tellusachievedanoperatingrevenueof424,419,203.34Yuanwith25.68%downfromayearearlier.SincetheoperatingrevenueisoneofthekeyperformanceindicatorsofTellus,theremaybeaninherentriskthatthemanagementofTellus(hereinafterreferredtoasmanagement)mayuseinappropriaterevenuerecognitiontoachievespecificgoalsorexpectations.Accordingly,wehaveidentifiedrevenuerecognitionasakeyauditmatter.
2.AuditresponseTherelevantprocedureswehaveimplementedforrevenuerecognitionincluding:
(1)Understandthekeyinternalcontrolsrelatingtorevenuerecognition,evaluationthedesignofthesecontrols,determinewhethertheyarebeingimplementedandtesttheoperatingeffectivenessoftherelevantinternalcontrols.
(2)Checkmajormerchandisingcontracts,realestateleasingcontractsandevaluatewhethertherevenuerecognitionpolicyisincompliancewiththeprovisionofAccountingStandardsforBusinessEnterprise;
(3)Implementinganalyticalproceduresforoperatingrevenueandgrossmarginonamonthlybasisoronproducts,identifywhethertherearesignificantorunusualfluctuationsandfindoutthecausesofsuchfluctuations;
(4)Checksupportingdocumentsrelatedtorevenuerecognitionbysampling,includingmerchandisesalescontractorrealestatecontract,invoice,merchandisesalesorder,deliveryreceiptsandcustomersignreceiptetc.;
(5)combinedwiththeaccountreceivableletter,confirmthecurrentsalesvolumetothemaincustomersbysampling;
(6)asfortherevenuerecognizedbeforeandafterthebalancesheetdate,checkthesupportingdocumentssuchasinvoices,salesorders,deliveryreceiptsandcustomersignreceiptinasamplingmanner,andevaluatewhethertheoperatingrevenueisrecognizedinanappropriateperiod;
(7)checkwhethertherevenueisproperlyresentedinthefinancialstatementsinaccordancewiththeAccounting
StandardsforBusinessEnterprises.(ii)Carryingvalueoftheinvestmentrealestate,fixedassetsandconstructioninprogress
1.MatterdescriptionFoundmoreinthe17,18,19and20inNoteIIIand11,12and13inNoteVcarriedinfinancialstatementAsof31December2020,thecarryingvalueofinvestmentrealestate,fixedassetsandconstructioninprogressareamountedto789,124,019.52Yuan,accountsfor46.19%ofthetotalassets.Weidentifiedthecarryingvalueofinvestmentrealestate,fixedassetsandconstructioninprogressaskeyauditmattersduetotheirmaterialitytothefinancialstatementandthedeterminationofwhethertherelatedexpenditurequalifiesforcapitalization,thepointatwhichconstructioninprogressiscompletedtocarryforwardfixedassetsandcommencementofdepreciation,allofwhichinvolvesignificantmanagementjudgement.
2.AuditresponseTherelevantprocedureswehaveimplementedforinvestmentrealestate,fixedassetsandconstructioninprogressincluding:
(1)understandthekeyinternalcontrolrelevanttotheexistence,completenessandaccuracydeterminationoftheinvestmentrealestate,fixedassetsandconstructioninprogress,evaluationthedesignofthesecontrols,determinewhethertheyarebeingimplementedandtesttheoperatingeffectivenessoftherelevantinternalcontrols.
(2)implementingmonitoringprocedurestounderstandthestateofuseandconstructionprogressofinvestmentrealestate,fixedassetsandconstructioninprogress.
(3)fortheamountofconstructioninprogressincurredduringtheyear,checktheprectcontractingcontract,settlementprofiles,applicationforprogresspayments,invoicesandpaymentvouchersetc,checkwhethertheamountbookedintheaccountisaccurate,andcheckwhethertheindirectexpensesbookedintotheconstructioninthecurrentyearmeetthecapitalizationconditions;
(4)extracttheamountofconstructioninprogressbeforeandafterthebalancesheetdateforcut-offtest,checkwhethercostoftheconstructioninprogressisincludedinthecorrectaccountingperiodaccordingtoactualworkprogress;
(5)forworkscompletedduringtheyeartobecarriedforwardtoinvestmentrealestate,checkthecompletionandacceptancedata,evaluatewhetherthetimingofcompletionanddepreciationisaccurate;
(6)checkwhethertheaccrualofinvestmentrealestateanddepreciationoffixedassetsareaccurate;
(7)checkthatinformationrelatingtoinvestmentrealestate,fixedassetsandconstructioninprogressareproperlypresentedinthefinancialstatement.IV.Otherinformation
ThemanagementofTellusisresponsibleforotherinformationwhichincludestheinformationcoveredintheCompany’s2020annualreportexcludingthefinancialstatementandourauditreport.Ourauditopinionsonthefinancialstatementsdonotcoverotherinformation,andwedonotissueanyformofauthenticationconclusionsonotherinformation.Incombinationwithourauditofthefinancialstatements,itisourresponsibilitytoreadotherinformationand,indoingso,toconsiderwhetherthereismaterialinconsistencyormaterialmisstatementbetweentheotherinformationandthefinancialstatementsorwhatwelearnedinthecourseofouraudit.Basedontheworkwehaveperformed,ifwedeterminethatotherinformationismateriallymisstated,weshouldreportthatfact.Wehavenomatterstoreportinthisregard.V.ResponsibilitiesofmanagementandthosechargedwithgovernanceforthefinancialstatementsThemanagementisresponsibleforthepreparationofthefinancialstatementsinaccordancewiththeAccountingStandardsforEnterprisetosecureafairpresentation,andforthedesign,establishmentandmaintenanceoftheinternalcontrolnecessarytoenablethepreparationoffinancialstatementsthatarefreefrommaterialmisstatement,whetherduetofraudorerror.Inpreparingthefinancialstatements,themanagementisresponsibleforassessingtheCompany’sabilitytocontinueasagoingconcern,disclosingmattersrelatedtogoingconcern(ifapplicable)andusingthegoingconcernassumptionunlessthemanagementeitherintendstoliquidatetheCompanyortoceaseoperations,orhasnorealisticalternativebuttodoso.ThosechargedwithTellusCompany(hereinafterreferredtoasthegovernance)areresponsibleforoverseeingtheCompany’sfinancialreportingprocess.VI.ResponsibilitiesoftheauditorforthefinancialstatementsOurobjectivesaretoobtainreasonableassuranceaboutwhetherthefinancialstatementsasawholearefreefrommaterialmisstatement,whetherduetofraudorerror,andtoissueanauditreportthatincludesourauditopinion.Reasonableassuranceisahighlevelofassurance,butisnotaguaranteethatanauditconductedinaccordancewiththeCASwillalwaysdetectamaterialmisstatementwhenitexists.Misstatementscanarisefromfraudorerrorandareconsideredmaterialif,individuallyorintheaggregate,theycouldreasonablybeexpectedtoinfluencetheeconomicdecisionsofuserstakenonthebasisofthefinancialstatements.AspartofanauditinaccordancewiththeCAS,weexerciseprofessionaljudgmentandmaintainprofessionalskepticismthroughouttheaudit.Wealso:
(1)Identifyandassesstherisksofmaterialmisstatementofthefinancialstatements,whetherduetofraudorerror,designandperformauditproceduresresponsivetothoserisks,andobtainauditevidencethatissufficientandappropriatetoprovideabasisforauditopinion.Theriskofnotdetectingamaterialmisstatementresultingfromfraudishigherthanforoneresultingfromerror,asfraudmayinvolvecollusion,forgery,intentionalomissions,misrepresentations,ortheoverrideofinternalcontrol.
(2)Obtainanunderstandingofinternalcontrolrelevanttotheauditinordertodesignauditproceduresthatareappropriateinthecircumstances.
(3)Evaluatetheappropriatenessofaccountingpoliciesusedandthereasonablenessofaccountingestimatesandrelateddisclosuresmadebythemanagement.
(4)Concludeontheappropriatenessofthemanagement’suseofthegoingconcernassumptionand,basedontheauditevidenceobtained,whetheramaterialuncertaintyexistsrelatedtoeventsorconditionsthatmaycastsignificantdoubtontheCompany’sabilitytocontinueasagoingconcern.Ifweconcludethatamaterialuncertaintyexists,wearerequiredbytheCAStodrawusers’attentioninauditreporttotherelateddisclosuresinthefinancialstatementsor,ifsuchdisclosuresareinadequate,tomodifyauditopinion.Ourconclusionsarebasedontheinformationobtaineduptothedateofauditreport.However,futureeventsorconditionsmaycausetheCompanytoceasetocontinueasagoingconcern.
(5)Evaluatetheoverallpresentation,structureandcontentofthefinancialstatements,andwhetherthefinancialstatementsrepresenttheunderlyingtransactionsandeventsinamannerthatachievesfairpresentation.
(6)ObtainsufficientappropriateauditevidenceregardingthefinancialinformationoftheentitiesorbusinessactivitieswithintheCompanytoexpressauditopiniononthefinancialstatements.Weareresponsibleforthedirection,supervisionandperformanceofthegroupaudit.Weremainsolelyresponsibleforauditopinion.Wecommunicatewiththosechargedwithgovernanceregarding,amongothermatters,theplannedscopeandtimingoftheauditandsignificantauditfindings,includinganysignificantdeficienciesininternalcontrolthatweidentifyduringouraudit.Wealsoprovidethegovernancewithastatementofourcompliancewiththeethicalrequirementsrelatingtoourindependenceandcommunicatewiththegovernanceonallrelationshipsandothermattersthatmayreasonablybeconsideredtoaffectourindependence,aswellwetherelevantprecautions(ifapplicable).Fromthematterscommunicatedwiththosechargedwithgovernance,wedeterminethosemattersthatwereofmostsignificanceintheauditofthefinancialstatementsofthecurrentperiodandarethereforethekeyauditmatters.Wedescribethesemattersintheauditor’sreportunlesslaworregulationprecludespublicdisclosureaboutthematterorwhen,inextremelyrarecircumstances,wedeterminethatamattershouldnotbecommunicatedintheauditor’sreportbecauseoftheadverseconsequencesofdoingsowouldreasonablybeexpectedtooutweighthepublicinterestbenefitsofsuchcommunication.
II.FinancialStatement
PreparedbyShenzhenTellusHoldingCo.,Ltd.StatementinFinancialNotesarecarriedinRMB/CNY
1.ConsolidatedBalanceSheet
InRMB
| Item | December31,2020 | December31,2019 |
| Currentassets: | ||
| Monetaryfunds | 237,625,698.93 | 428,851,606.04 |
| Settlementprovisions | ||
| Capitallent | ||
| Tradablefinancialassets | 314,013,869.86 | 60,486,575.34 |
| Derivativefinancialassets | ||
| Notereceivable | ||
| Accountreceivable | 19,828,510.36 | 112,613,224.27 |
| Receivablefinancing | ||
| Accountspaidinadvance | 9,847,749.74 | 12,683,603.89 |
| Insurancereceivable | ||
| Reinsurancereceivables | ||
| Contractreserveofreinsurancereceivable | ||
| Otheraccountreceivable | 29,269,790.83 | 44,908,546.40 |
| Including:Interestreceivable | ||
| Dividendreceivable | 24,647,732.42 | 39,647,732.42 |
| Buyingbackthesaleoffinancialassets | ||
| Inventories | 22,079,679.93 | 21,389,602.83 |
| Contractualassets | ||
| Assetsheldforsale | ||
| Non-currentassetduewithinoneyear | ||
| Othercurrentassets | 6,000,566.69 | 3,403,969.23 |
| Totalcurrentassets | 638,665,866.34 | 684,337,128.00 |
| Non-currentassets: | ||
| Loansandpaymentsonbehalf | ||
| Debtinvestment | ||
| Otherdebtinvestment | ||
| Long-termaccountreceivable |
| Long-termequityinvestment | 123,640,955.57 | 162,178,544.05 |
| Investmentinotherequityinstrument | 10,176,617.20 | 10,176,617.20 |
| Othernon-currentfinancialassets | ||
| Investmentrealestate | 568,246,616.13 | 554,599,503.55 |
| Fixedassets | 119,136,917.91 | 107,119,796.59 |
| Constructioninprogress | 101,740,485.48 | 47,654,393.55 |
| Productivebiologicalasset | ||
| Oilandgasasset | ||
| Right-of-useassets | ||
| Intangibleassets | 51,627,673.21 | 50,561,225.67 |
| ExpenseonResearchandDevelopment | ||
| Goodwill | ||
| Long-termexpensestobeapportioned | 30,714,879.22 | 13,606,805.49 |
| Deferredincometaxasset | 8,498,822.10 | 8,658,962.39 |
| Othernon-currentasset | 55,993,467.99 | 6,889,167.54 |
| Totalnon-currentasset | 1,069,776,434.81 | 961,445,016.03 |
| Totalassets | 1,708,442,301.15 | 1,645,782,144.03 |
| Currentliabilities: | ||
| Short-termloans | ||
| Loanfromcentralbank | ||
| Capitalborrowed | ||
| Tradingfinancialliability | ||
| Derivativefinancialliability | ||
| Notepayable | ||
| Accountpayable | 76,583,166.53 | 69,087,430.42 |
| Accountsreceivedinadvance | 2,403,580.47 | 27,299,822.71 |
| Contractualliability | 18,988,628.13 | |
| Sellingfinancialassetofrepurchase | ||
| Absorbingdepositandinterbankdeposit | ||
| Securitytradingofagency |
| Securitysalesofagency | ||
| Wagepayable | 28,365,685.21 | 31,204,794.89 |
| Taxespayable | 21,062,154.32 | 71,425,267.61 |
| Otheraccountpayable | 158,663,974.62 | 101,266,802.49 |
| Including:Interestpayable | ||
| Dividendpayable | 46,295.65 | |
| Commissionchargeandcommissionpayable | ||
| Reinsurancepayable | ||
| Liabilityheldforsale | ||
| Non-currentliabilitiesduewithinoneyear | ||
| Othercurrentliabilities | 2,237,573.19 | |
| Totalcurrentliabilities | 308,304,762.47 | 300,284,118.12 |
| Non-currentliabilities: | ||
| Insurancecontractreserve | ||
| Long-termloans | 11,171,759.33 | |
| Bondspayable | ||
| Including:Preferredstock | ||
| Perpetualcapitalsecurities | ||
| Leaseliability | ||
| Long-termaccountpayable | 3,920,160.36 | 3,920,160.36 |
| Long-termwagespayable | ||
| Accrualliability | 268,414.80 | 2,225,468.76 |
| Deferredincome | 131,102.38 | 139,400.00 |
| Deferredincometaxliabilities | ||
| Othernon-currentliabilities | ||
| Totalnon-currentliabilities | 15,491,436.87 | 6,285,029.12 |
| Totalliabilities | 323,796,199.34 | 306,569,147.24 |
| Owner’sequity: | ||
| Sharecapital | 431,058,320.00 | 431,058,320.00 |
| Otherequityinstrument | ||
| Including:Preferredstock | ||
| Perpetualcapital |
| securities | ||
| Capitalpublicreserve | 431,449,554.51 | 431,449,554.51 |
| Less:Inventoryshares | ||
| Othercomprehensiveincome | 26,422.00 | 26,422.00 |
| Reasonablereserve | ||
| Surpluspublicreserve | 23,848,485.62 | 21,007,488.73 |
| Provisionofgeneralrisk | ||
| Retainedprofit | 424,141,893.34 | 387,423,510.78 |
| Totalowner’sequityattributabletoparentcompany | 1,310,524,675.47 | 1,270,965,296.02 |
| Minorityinterests | 74,121,426.34 | 68,247,700.77 |
| Totalowner’sequity | 1,384,646,101.81 | 1,339,212,996.79 |
| Totalliabilitiesandowner’sequity | 1,708,442,301.15 | 1,645,782,144.03 |
LegalRepresentative:FuChunlongPersoninchargeofAccountingWorks:LouHongPersoninchargeofAccountingInstitution:LiaoZebin
2.BalanceSheetofParentCompany
InRMB
| Item | December31,2020 | December31,2019 |
| Currentassets: | ||
| Monetaryfunds | 71,772,303.28 | 201,885,691.27 |
| Tradingfinancialassets | 118,484,941.09 | 40,324,383.56 |
| Derivativefinancialassets | ||
| Notereceivable | ||
| Accountreceivable | 249,428.20 | 206,710.76 |
| Receivablefinancing | ||
| Accountspaidinadvance | 100,000.00 | |
| Otheraccountreceivable | 126,970,097.13 | 116,037,773.09 |
| Including:Interestreceivable | ||
| Dividendreceivable | 547,184.35 | 547,184.35 |
| Inventories |
| Contractualassets | ||
| Assetsheldforsale | ||
| Non-currentassetsmaturingwithinoneyear | ||
| Othercurrentassets | 1,419,760.18 | |
| Totalcurrentassets | 317,476,769.70 | 359,974,318.86 |
| Non-currentassets: | ||
| Debtinvestment | ||
| Otherdebtinvestment | ||
| Long-termreceivables | ||
| Long-termequityinvestments | 876,760,784.88 | 859,355,040.60 |
| Investmentinotherequityinstrument | 10,176,617.20 | 10,176,617.20 |
| Othernon-currentfinancialassets | ||
| Investmentrealestate | 31,971,205.42 | 39,616,602.02 |
| Fixedassets | 19,082,604.22 | 14,012,830.64 |
| Constructioninprogress | 100,252,309.72 | 35,321,704.26 |
| Productivebiologicalassets | ||
| Oilandnaturalgasassets | ||
| Right-of-useassets | ||
| Intangibleassets | 50,135,951.98 | 48,953,266.56 |
| Researchanddevelopmentcosts | ||
| Goodwill | ||
| Long-termdeferredexpenses | 8,786,280.69 | 2,639,122.63 |
| Deferredincometaxassets | 3,397,708.75 | 3,557,849.04 |
| Othernon-currentassets | 27,427,939.18 | 6,789,167.54 |
| Totalnon-currentassets | 1,127,991,402.04 | 1,020,422,200.49 |
| Totalassets | 1,445,468,171.74 | 1,380,396,519.35 |
| Currentliabilities | ||
| Short-termborrowings | ||
| Tradingfinancialliability | ||
| Derivativefinancialliability | ||
| Notespayable | ||
| Accountpayable | 267,841.07 | 14,000.00 |
| Accountsreceivedinadvance | 682,934.41 | |
| Contractualliability | ||
| Wagepayable | 15,784,381.93 | 8,199,278.01 |
| Taxespayable | 1,123,476.72 | 54,684,929.01 |
| Otheraccountspayable | 345,894,297.23 | 257,260,350.77 |
| Including:Interestpayable | ||
| Dividendpayable | ||
| Liabilityheldforsale | ||
| Non-currentliabilitiesduewithinoneyear | ||
| Othercurrentliabilities | ||
| Totalcurrentliabilities | 363,752,931.36 | 320,158,557.79 |
| Non-currentliabilities: | ||
| Long-termloans | 11,171,759.33 | |
| Bondspayable | ||
| Including:preferredstock | ||
| Perpetualcapitalsecurities | ||
| Leaseliability | ||
| Long-termaccountpayable | ||
| Longtermemployeecompensationpayable | ||
| Accruedliabilities | ||
| Deferredincome | ||
| Deferredincometaxliabilities | ||
| Othernon-currentliabilities | ||
| Totalnon-currentliabilities | 11,171,759.33 | |
| Totalliabilities | 374,924,690.69 | 320,158,557.79 |
| Owners’equity: | ||
| Sharecapital | 431,058,320.00 | 431,058,320.00 |
| Otherequityinstrument | ||
| Including:preferredstock | ||
| Perpetualcapitalsecurities | ||
| Capitalpublicreserve | 428,256,131.23 | 428,256,131.23 |
| Less:Inventoryshares | ||
| Othercomprehensiveincome | ||
| Specialreserve | ||
| Surplusreserve | 23,848,485.62 | 21,007,488.73 |
| Retainedprofit | 187,380,544.20 | 179,916,021.60 |
| Totalowner’sequity | 1,070,543,481.05 | 1,060,237,961.56 |
| Totalliabilitiesandowner’sequity | 1,445,468,171.74 | 1,380,396,519.35 |
LegalRepresentative:FuChunlongPersoninchargeofAccountingWorks:LouHongPersoninchargeofAccountingInstitution:LiaoZebin
3.ConsolidatedProfitStatement
InRMB
| Item | 2020 | 2019 |
| I.Totaloperatingincome | 424,419,203.34 | 571,072,893.90 |
| Including:Operatingincome | 424,419,203.34 | 571,072,893.90 |
| Interestincome | ||
| Insurancegained | ||
| Commissionchargeandcommissionincome | ||
| II.Totaloperatingcost | 377,759,171.82 | 509,897,504.26 |
| Including:Operatingcost | 319,261,201.59 | 431,021,312.64 |
| Interestexpense | ||
| Commissionchargeandcommissionexpense | ||
| Cashsurrendervalue | ||
| Netamountofexpenseofcompensation | ||
| Netamountofwithdrawalofinsurancecontractreserve | ||
| Bonusexpenseofguaranteeslip | ||
| Reinsuranceexpense | ||
| Taxandextras | 4,104,477.41 | 6,269,059.85 |
| Salesexpense | 17,715,132.43 | 23,956,102.30 |
| Administrativeexpense | 39,984,244.07 | 43,668,263.92 |
| R&Dexpense | ||
| Financialexpense | -3,305,883.68 | 4,982,765.55 |
| Including:Interestexpenses | 1,042,694.54 | 7,000,636.08 |
| Interestincome | 4,473,218.76 | 2,317,143.23 |
| Add:otherincome | 1,566,918.68 | 292,897.32 |
| Investmentincome(Lossislistedwith“-”) | 23,458,405.59 | 240,569,654.98 |
| Including:Investmentincomeonaffiliatedcompanyandjointventure | 14,962,411.52 | 19,134,325.91 |
| Theterminationofincomerecognitionforfinancialassetsmeasuredbyamortizedcost(Lossislistedwith“-”) | ||
| Exchangeincome(Lossislistedwith“-”) | ||
| Netexposurehedgingincome(Lossislistedwith“-”) | ||
| Incomefromchangeoffairvalue(Lossislistedwith“-”) | 316,475.19 | 477,394.67 |
| Lossofcreditimpairment(Lossislistedwith“-”) | 1,528,748.01 | 1,270,480.08 |
| Lossesofdevaluationofasset(Lossislistedwith“-”) | -23,818.95 | -662,290.01 |
| Incomefromassetsdisposal(Lossislistedwith“-”) | 216,207.53 | |
| III.Operatingprofit(Lossislistedwith“-”) | 73,506,760.04 | 303,339,734.21 |
| Add:Non-operatingincome | 3,289,158.12 | 304,620.63 |
| Less:Non-operatingexpense | 92,751.70 | 1,049,085.73 |
| IV.Totalprofit(Lossislistedwith“-”) | 76,703,166.46 | 302,595,269.11 |
| Less:Incometaxexpense | 16,397,936.55 | 83,788,034.93 |
| V.Netprofit(Netlossislistedwith“-”) | 60,305,229.91 | 218,807,234.18 |
| (i)Classifybybusinesscontinuity |
| 1.continuousoperatingnetprofit(netlosslistedwith‘-”) | 60,305,229.91 | 218,807,234.18 |
| 2.terminationofnetprofit(netlosslistedwith‘-”) | ||
| (ii)Classifybyownership | ||
| 1.Netprofitattributabletoowner’sofparentcompany | 57,663,828.89 | 219,669,708.47 |
| 2.Minorityshareholders’gainsandlosses | 2,641,401.02 | -862,474.29 |
| VI.Netafter-taxofothercomprehensiveincome | ||
| Netafter-taxofothercomprehensiveincomeattributabletoownersofparentcompany | ||
| (I)Othercomprehensiveincomeitemswhichwillnotbereclassifiedsubsequentlytoprofitofloss | ||
| 1.Changesofthedefinedbenefitplansthatre-measured | ||
| 2.Othercomprehensiveincomeunderequitymethodthatcannotbetransfertogain/loss | ||
| 3.Changeoffairvalueofinvestmentinotherequityinstrument | ||
| 4.Fairvaluechangeofenterprise'screditrisk | ||
| 5.Other | ||
| (ii)Othercomprehensiveincomeitemswhichwillbereclassifiedsubsequentlytoprofitorloss | ||
| 1.Othercomprehensiveincomeunderequitymethodthatcantransfertogain/loss | ||
| 2.Changeoffairvalueofotherdebtinvestment | ||
| 3.Amountoffinancialassetsre-classifytoothercomprehensiveincome | ||
| 4.Creditimpairment |
| provisionforotherdebtinvestment | ||
| 5.Cashflowhedgingreserve | ||
| 6.Translationdifferencesarisingontranslationofforeigncurrencyfinancialstatements | ||
| 7.Other | ||
| Netafter-taxofothercomprehensiveincomeattributabletominorityshareholders | ||
| VII.Totalcomprehensiveincome | 60,305,229.91 | 218,807,234.18 |
| TotalcomprehensiveincomeattributabletoownersofparentCompany | 57,663,828.89 | 219,669,708.47 |
| Totalcomprehensiveincomeattributabletominorityshareholders | 2,641,401.02 | -862,474.29 |
| VIII.Earningspershare: | ||
| (i)Basicearningspershare | 0.1338 | 0.5096 |
| (ii)Dilutedearningspershare | 0.1338 | 0.5096 |
LegalRepresentative:FuChunlongPersoninchargeofAccountingWorks:LouHongPersoninchargeofAccountingInstitution:LiaoZebin
4.ProfitStatementofParentCompany
InRMB
| Item | 2020 | 2019 |
| I.Operatingincome | 37,241,063.15 | 38,042,399.39 |
| Less:Operatingcost | 10,754,749.28 | 3,772,642.43 |
| Taxesandsurcharge | 1,176,003.82 | 1,721,718.43 |
| Salesexpenses | ||
| Administrationexpenses | 27,966,422.98 | 23,285,817.13 |
| R&Dexpenses | ||
| Financialexpenses | -1,876,961.86 | 4,032,853.71 |
| Including:interestexpenses | 5,767,035.04 |
| Interestincome | 1,769,825.26 | 1,804,555.52 |
| Add:otherincome | 21,849.42 | |
| Investmentincome(Lossislistedwith“-”) | 33,827,292.08 | 236,551,009.68 |
| Including:InvestmentincomeonaffiliatedCompanyandjointventure | 22,156,744.28 | 19,318,549.22 |
| Theterminationofincomerecognitionforfinancialassetsmeasuredbyamortizedcost(Lossislistedwith“-”) | ||
| Netexposurehedgingincome(Lossislistedwith“-”) | ||
| Changingincomeoffairvalue(Lossislistedwith“-”) | 160,557.53 | 324,383.56 |
| Lossofcreditimpairment(Lossislistedwith“-”) | 639,993.94 | 1,057,870.24 |
| Lossesofdevaluationofasset(Lossislistedwith“-”) | -4,998,000.00 | |
| Incomeondisposalofassets(Lossislistedwith“-”) | ||
| II.Operatingprofit(Lossislistedwith“-”) | 28,872,541.90 | 243,162,631.17 |
| Add:Non-operatingincome | 2,000.00 | 33,995.79 |
| Less:Non-operatingexpense | 18,810.00 | |
| III.TotalProfit(Lossislistedwith“-”) | 28,855,731.90 | 243,196,626.96 |
| Less:Incometax | 445,762.97 | 64,583,369.44 |
| IV.Netprofit(Netlossislistedwith“-”) | 28,409,968.93 | 178,613,257.52 |
| (i)continuousoperatingnetprofit(netlosslistedwith‘-”) | 28,409,968.93 | 178,613,257.52 |
| (ii)terminationofnetprofit(netlosslistedwith‘-”) | ||
| V.Netafter-taxofothercomprehensiveincome | ||
| (I)Othercomprehensiveincomeitemswhichwillnotbereclassified |
| subsequentlytoprofitofloss | ||
| 1.Changesofthedefinedbenefitplansthatre-measured | ||
| 2.Othercomprehensiveincomeunderequitymethodthatcannotbetransfertogain/loss | ||
| 3.Changeoffairvalueofinvestmentinotherequityinstrument | ||
| 4.Fairvaluechangeofenterprise'screditrisk | ||
| 5.Other | ||
| (II)Othercomprehensiveincomeitemswhichwillbereclassifiedsubsequentlytoprofitorloss | ||
| 1.Othercomprehensiveincomeunderequitymethodthatcantransfertogain/loss | ||
| 2.Changeoffairvalueofotherdebtinvestment | ||
| 3.Amountoffinancialassetsre-classifytoothercomprehensiveincome | ||
| 4.Creditimpairmentprovisionforotherdebtinvestment | ||
| 5.Cashflowhedgingreserve | ||
| 6.Translationdifferencesarisingontranslationofforeigncurrencyfinancialstatements | ||
| 7.Other | ||
| VI.Totalcomprehensiveincome | 28,409,968.93 | 178,613,257.52 |
| VII.Earningspershare: | ||
| (i)Basicearningspershare | ||
| (ii)Dilutedearningspershare |
LegalRepresentative:FuChunlongPersoninchargeofAccountingWorks:LouHong
PersoninchargeofAccountingInstitution:LiaoZebin
5.ConsolidatedCashFlowStatement
InRMB
| Item | 2020 | 2019 |
| I.Cashflowsarisingfromoperatingactivities: | ||
| Cashreceivedfromsellingcommoditiesandprovidinglaborservices | 564,587,333.62 | 620,842,167.97 |
| Netincreaseofcustomerdepositandinterbankdeposit | ||
| Netincreaseofloanfromcentralbank | ||
| Netincreaseofcapitalborrowedfromotherfinancialinstitution | ||
| Cashreceivedfromoriginalinsurancecontractfee | ||
| Netcashreceivedfromreinsurancebusiness | ||
| Netincreaseofinsuredsavingsandinvestment | ||
| Cashreceivedfrominterest,commissionchargeandcommission | ||
| Netincreaseofcapitalborrowed | ||
| Netincreaseofreturnedbusinesscapital | ||
| Netcashreceivedbyagentsinsaleandpurchaseofsecurities | ||
| Write-backoftaxreceived | 3,181.09 | |
| Othercashreceivedconcerningoperatingactivities | 16,119,424.38 | 47,761,005.81 |
| Subtotalofcashinflowarisingfromoperatingactivities | 580,706,758.00 | 668,606,354.87 |
| Cashpaidforpurchasingcommoditiesandreceivinglaborservice | 316,124,308.90 | 452,350,872.20 |
| Netincreaseofcustomerloans |
| andadvances | ||
| Netincreaseofdepositsincentralbankandinterbank | ||
| Cashpaidfororiginalinsurancecontractcompensation | ||
| Netincreaseofcapitallent | ||
| Cashpaidforinterest,commissionchargeandcommission | ||
| Cashpaidforbonusofguaranteeslip | ||
| Cashpaidto/forstaffandworkers | 55,902,432.37 | 62,812,595.93 |
| Taxespaid | 82,073,162.16 | 23,492,145.22 |
| Othercashpaidconcerningoperatingactivities | 17,501,551.69 | 51,039,388.49 |
| Subtotalofcashoutflowarisingfromoperatingactivities | 471,601,455.12 | 589,695,001.84 |
| Netcashflowsarisingfromoperatingactivities | 109,105,302.88 | 78,911,353.03 |
| II.Cashflowsarisingfrominvestingactivities: | ||
| Cashreceivedfromrecoveringinvestment | 1,372,569,181.67 | 2,177,147,001.00 |
| Cashreceivedfrominvestmentincome | 42,049,595.57 | 54,752,103.23 |
| Netcashreceivedfromdisposaloffixed,intangibleandotherlong-termassets | 922,066.49 | 834,100.00 |
| Netcashreceivedfromdisposalofsubsidiariesandotherunits | ||
| Othercashreceivedconcerninginvestingactivities | 50,069,962.11 | 2,385,849.54 |
| Subtotalofcashinflowfrominvestingactivities | 1,465,610,805.84 | 2,235,119,053.77 |
| Cashpaidforpurchasingfixed,intangibleandotherlong-termassets | 172,620,388.10 | 124,672,512.37 |
| Cashpaidforinvestment | 1,590,780,000.00 | 1,758,560,000.00 |
| Netincreaseofmortgagedloans |
| Netcashreceivedfromsubsidiariesandotherunitsobtained | ||
| Othercashpaidconcerninginvestingactivities | 5,000.00 | |
| Subtotalofcashoutflowfrominvestingactivities | 1,763,400,388.10 | 1,883,237,512.37 |
| Netcashflowsarisingfrominvestingactivities | -297,789,582.26 | 351,881,541.40 |
| III.Cashflowsarisingfromfinancingactivities | ||
| Cashreceivedfromabsorbinginvestment | 7,000,000.00 | 20,000,000.00 |
| Including:Cashreceivedfromabsorbingminorityshareholders’investmentbysubsidiaries | 7,000,000.00 | 20,000,000.00 |
| Cashreceivedfromloans | 11,171,759.33 | 143,000,000.00 |
| Othercashreceivedconcerningfinancingactivities | 24,800,000.00 | 15,020,000.00 |
| Subtotalofcashinflowfromfinancingactivities | 42,971,759.33 | 178,020,000.00 |
| Cashpaidforsettlingdebts | 320,934,887.55 | |
| Cashpaidfordividendandprofitdistributingorinterestpaying | 21,825,829.24 | 7,095,966.49 |
| Including:Dividendandprofitofminorityshareholderpaidbysubsidiaries | 3,767,675.45 | |
| Othercashpaidconcerningfinancingactivities | 24,800,000.00 | 22,962,000.00 |
| Subtotalofcashoutflowfromfinancingactivities | 46,625,829.24 | 350,992,854.04 |
| Netcashflowsarisingfromfinancingactivities | -3,654,069.91 | -172,972,854.04 |
| IV.Influenceoncashandcashequivalentsduetofluctuationinexchangerate | 132,748.11 | 96.73 |
| V.Netincreaseofcashandcashequivalents | -192,205,601.18 | 257,820,137.12 |
| Add:Balanceofcashandcashequivalentsattheperiod-begin | 400,668,257.81 | 142,848,120.69 |
| VI.Balanceofcashandcashequivalentsattheperiod-end | 208,462,656.63 | 400,668,257.81 |
LegalRepresentative:FuChunlongPersoninchargeofAccountingWorks:LouHongPersoninchargeofAccountingInstitution:LiaoZebin
6.CashFlowStatementofParentCompany
InRMB
| Item | 2020 | 2019 |
| I.Cashflowsarisingfromoperatingactivities: | ||
| Cashreceivedfromsellingcommoditiesandprovidinglaborservices | 40,034,070.19 | 39,784,268.51 |
| Write-backoftaxreceived | ||
| Othercashreceivedconcerningoperatingactivities | 89,340,030.37 | 28,770,832.18 |
| Subtotalofcashinflowarisingfromoperatingactivities | 129,374,100.56 | 68,555,100.69 |
| Cashpaidforpurchasingcommoditiesandreceivinglaborservice | ||
| Cashpaidto/forstaffandworkers | 25,364,055.45 | 18,387,927.35 |
| Taxespaid | 56,569,832.96 | 3,527,628.11 |
| Othercashpaidconcerningoperatingactivities | 10,874,977.81 | 19,992,731.75 |
| Subtotalofcashoutflowarisingfromoperatingactivities | 92,808,866.22 | 41,908,287.21 |
| Netcashflowsarisingfromoperatingactivities | 36,565,234.34 | 26,646,813.48 |
| II.Cashflowsarisingfrominvestingactivities: | ||
| Cashreceivedfromrecoveringinvestment | 522,000,000.00 | 1,260,187,000.00 |
| Cashreceivedfrominvestment | 30,170,547.80 | 24,870,415.22 |
| income | ||
| Netcashreceivedfromdisposaloffixed,intangibleandotherlong-termassets | ||
| Netcashreceivedfromdisposalofsubsidiariesandotherunits | ||
| Othercashreceivedconcerninginvestingactivities | 2,385,849.54 | |
| Subtotalofcashinflowfrominvestingactivities | 552,170,547.80 | 1,287,443,264.76 |
| Cashpaidforpurchasingfixed,intangibleandotherlong-termassets | 94,282,308.52 | 75,307,375.89 |
| Cashpaidforinvestment | 618,747,000.00 | 978,253,000.00 |
| Netcashreceivedfromsubsidiariesandotherunitsobtained | ||
| Othercashpaidconcerninginvestingactivities | ||
| Subtotalofcashoutflowfrominvestingactivities | 713,029,308.52 | 1,053,560,375.89 |
| Netcashflowsarisingfrominvestingactivities | -160,858,760.72 | 233,882,888.87 |
| III.Cashflowsarisingfromfinancingactivities | ||
| Cashreceivedfromabsorbinginvestment | ||
| Cashreceivedfromloans | 11,171,759.33 | 143,000,000.00 |
| Othercashreceivedconcerningfinancingactivities | 24,800,000.00 | |
| Subtotalofcashinflowfromfinancingactivities | 35,971,759.33 | 143,000,000.00 |
| Cashpaidforsettlingdebts | 286,000,000.00 | |
| Cashpaidfordividendandprofitdistributingorinterestpaying | 18,104,449.44 | 5,999,845.45 |
| Othercashpaidconcerningfinancingactivities | 24,800,000.00 | |
| Subtotalofcashoutflowfromfinancingactivities | 42,904,449.44 | 291,999,845.45 |
| Netcashflowsarisingfromfinancing | -6,932,690.11 | -148,999,845.45 |
| activities | ||
| IV.Influenceoncashandcashequivalentsduetofluctuationinexchangerate | 133,134.43 | |
| V.Netincreaseofcashandcashequivalents | -131,093,082.06 | 111,529,856.90 |
| Add:Balanceofcashandcashequivalentsattheperiod-begin | 173,702,343.04 | 62,172,486.14 |
| VI.Balanceofcashandcashequivalentsattheperiod-end | 42,609,260.98 | 173,702,343.04 |
LegalRepresentative:FuChunlongPersoninchargeofAccountingWorks:LouHongPersoninchargeofAccountingInstitution:LiaoZebin
7.StatementofChangesinOwners’Equity(Consolidated)
ThisPeriod
InRMB
| Item | 2020 | ||||||||||||||
| Owners’equityattributabletotheparentCompany | Minorityinterests | Totalowners’equity | |||||||||||||
| Sharecapital | Otherequityinstrument | Capitalreserve | Less:Inventoryshares | Othercomprehensiveincome | Reasonablereserve | Surplusreserve | Provisionofgeneralrisk | Retainedprofit | Other | Subtotal | |||||
| Preferredstock | Perpetualcapitalsecurities | Other | |||||||||||||
| I.Balanceattheendofthelastyear | 431,058,320.00 | 431,449,554.51 | 26,422.00 | 21,007,488.73 | 387,423,510.78 | 1,270,965,296.02 | 68,247,700.77 | 1,339,212,996.79 | |||||||
| Add:Changesofaccountingpolicy | |||||||||||||||
| Error | |||||||||||||||
| correctionofthelastperiod | |||||||||||||
| Enterprisecombineunderthesamecontrol | |||||||||||||
| Other | |||||||||||||
| II.Balanceatthebeginningofthisyear | 431,058,320.00 | 431,449,554.51 | 26,422.00 | 21,007,488.73 | 387,423,510.78 | 1,270,965,296.02 | 68,247,700.77 | 1,339,212,996.79 | |||||
| III.Increase/Decreaseinthisyear(Decreaseislistedwith“-”) | 2,840,996.89 | 36,718,382.56 | 39,559,379.45 | 5,873,725.57 | 45,433,105.02 | ||||||||
| (i)Totalcomprehensiveincome | 57,663,828.89 | 57,663,828.89 | 2,641,401.02 | 60,305,229.91 | |||||||||
| (ii)Owners’devotedanddecreasedcapital | 7,000,000.00 | 7,000,000.00 | |||||||||||
| 1.Commonsharesinvestedbyshareholders | 7,000,000.00 | 7,000,000.00 | |||||||||||
| 2.Capitalinvestedbyholdersofotherequityinstruments | |||||||||||||
| 3.Amountreckonedintoownersequitywithshare-basedpayment | |||||||||||||
| 4.Other | |||||||||||||
| (III)Profitdistribution | 2,840,996.89 | -20,945,446. | -18,104,449. | -3,767,675.4 | -21,872,124. |
| 33 | 44 | 5 | 89 | |||||
| 1.Withdrawalofsurplusreserves | 2,840,996.89 | -2,840,996.89 | ||||||
| 2.Withdrawalofgeneralriskprovisions | ||||||||
| 3.Distributionforowners(orshareholders) | -18,104,449.44 | -18,104,449.44 | -3,767,675.45 | -21,872,124.89 | ||||
| 4.Other | ||||||||
| (IV)Carryingforwardinternalowners’equity | ||||||||
| 1.Capitalreservesconversedtocapital(sharecapital) | ||||||||
| 2.Surplusreservesconversedtocapital(sharecapital) | ||||||||
| 3.Remedyinglosswithsurplusreserve | ||||||||
| 4．Carry-overretainedearningsfromthedefinedbenefitplans | ||||||||
| 5．Carry-overretainedearningsfromothercomprehensiveincome | ||||||||
| 6.Other | ||||||||
| (V)Reasonable |
| reserve | |||||||||||||
| 1.Withdrawalinthereportperiod | |||||||||||||
| 2.Usageinthereportperiod | |||||||||||||
| (VI)Others | |||||||||||||
| IV.Balanceattheendofthereportperiod | 431,058,320.00 | 431,449,554.51 | 26,422.00 | 23,848,485.62 | 424,141,893.34 | 1,310,524,675.47 | 74,121,426.34 | 1,384,646,101.81 |
LegalRepresentative:FuChunlongPersoninchargeofAccountingWorks:LouHongPersoninchargeofAccountingInstitution:LiaoZebinLastPeriod
InRMB
| Item | 2019 | ||||||||||||||
| Owners’equityattributabletotheparentCompany | Minorityinterests | Totalowners’equity | |||||||||||||
| Sharecapital | Otherequityinstrument | Capitalreserve | Less:Inventoryshares | Othercomprehensiveincome | Reasonablereserve | Surplusreserve | Provisionofgeneralrisk | Retainedprofit | Other | Subtotal | |||||
| Preferredstock | Perpetualcapitalsecurities | Other | |||||||||||||
| I.Balanceattheendofthelastyear | 297,281,600.00 | 565,226,274.51 | 26,422.00 | 3,139,918.14 | 184,535,322.70 | 1,050,209,537.35 | 49,072,678.52 | 1,099,282,215.87 | |||||||
| Add:Changesof | 6,24 | 1,07 | 1,08 | 37,49 | 1,123 | ||||||||||
| accountingpolicy | 4.84 | 9,805.36 | 6,050.20 | 6.54 | ,546.74 | ||||||||
| Errorcorrectionofthelastperiod | |||||||||||||
| Enterprisecombineunderthesamecontrol | |||||||||||||
| Other | |||||||||||||
| II.Balanceatthebeginningofthisyear | 297,281,600.00 | 565,226,274.51 | 26,422.00 | 3,146,162.98 | 185,615,128.06 | 1,051,295,587.55 | 49,110,175.06 | 1,100,405,762.61 | |||||
| III.Increase/Decreaseinthisyear(Decreaseislistedwith“-”) | 133,776,720.00 | -133,776,720.00 | 17,861,325.75 | 201,808,382.72 | 219,669,708.47 | 19,137,525.71 | 238,807,234.18 | ||||||
| (i)Totalcomprehensiveincome | 219,669,708.47 | 219,669,708.47 | -862,474.29 | 218,807,234.18 | |||||||||
| (ii)Owners’devotedanddecreasedcapital | 20,000,000.00 | 20,000,000.00 | |||||||||||
| 1.Commonsharesinvestedbyshareholders | 20,000,000.00 | 20,000,000.00 | |||||||||||
| 2.Capitalinvestedbyholdersofotherequityinstruments | |||||||||||||
| 3.Amountreckonedintoownersequitywithshare-based |
| payment | |||||||
| 4.Other | |||||||
| (III)Profitdistribution | 17,861,325.75 | -17,861,325.75 | |||||
| 1.Withdrawalofsurplusreserves | 17,861,325.75 | -17,861,325.75 | |||||
| 2.Withdrawalofgeneralriskprovisions | |||||||
| 3.Distributionforowners(orshareholders) | |||||||
| 4.Other | |||||||
| (IV)Carryingforwardinternalowners’equity | 133,776,720.00 | -133,776,720.00 | |||||
| 1.Capitalreservesconversedtocapital(sharecapital) | 133,776,720.00 | -133,776,720.00 | |||||
| 2.Surplusreservesconversedtocapital(sharecapital) | |||||||
| 3.Remedyinglosswithsurplusreserve | |||||||
| 4．Carry-overretainedearningsfromthedefined |
| benefitplans | |||||||||||||
| 5．Carry-overretainedearningsfromothercomprehensiveincome | |||||||||||||
| 6.Other | |||||||||||||
| (V)Reasonablereserve | |||||||||||||
| 1.Withdrawalinthereportperiod | |||||||||||||
| 2.Usageinthereportperiod | |||||||||||||
| (VI)Others | |||||||||||||
| IV.Balanceattheendofthereportperiod | 431,058,320.00 | 431,449,554.51 | 26,422.00 | 21,007,488.73 | 387,423,510.78 | 1,270,965,296.02 | 68,247,700.77 | 1,339,212,996.79 |
LegalRepresentative:FuChunlongPersoninchargeofAccountingWorks:LouHongPersoninchargeofAccountingInstitution:LiaoZebin
8.StatementofChangesinOwners’Equity(ParentCompany)
ThisPeriod
InRMB
| Item | 2020 | |||||||||||
| Sharecapital | Otherequityinstrument | Capitalpublicreserve | Less:Inventoryshares | Othercomprehensiveincome | Reasonablereserve | Surplusreserve | Retainedprofit | Other | Totalowners’equity | |||
| Preferredstock | Perpetualcapitalsecurities | Other | ||||||||||
| I.Balanceattheendofthe | 431,0 | 428,25 | 21,007 | 179, | 1,060,23 | |||||||
| lastyear | 58,320.00 | 6,131.23 | ,488.73 | 916,021.60 | 7,961.56 | |||
| Add:Changesofaccountingpolicy | ||||||||
| Errorcorrectionofthelastperiod | ||||||||
| Other | ||||||||
| II.Balanceatthebeginningofthisyear | 431,058,320.00 | 428,256,131.23 | 21,007,488.73 | 179,916,021.60 | 1,060,237,961.56 | |||
| III.Increase/Decreaseinthisyear(Decreaseislistedwith“-”) | 2,840,996.89 | 7,464,522.60 | 10,305,519.49 | |||||
| (i)Totalcomprehensiveincome | 28,409,968.93 | 28,409,968.93 | ||||||
| (ii)Owners’devotedanddecreasedcapital | ||||||||
| 1.Commonsharesinvestedbyshareholders | ||||||||
| 2.Capitalinvestedbyholdersofotherequityinstruments | ||||||||
| 3.Amountreckonedintoownersequitywithshare-basedpayment | ||||||||
| 4.Other | ||||||||
| (III)Profit | 2,840, | -20,9 | -18,104, |
| distribution | 996.89 | 45,446.33 | 449.44 | ||
| 1.Withdrawalofsurplusreserves | 2,840,996.89 | -2,840,996.89 | |||
| 2.Distributionforowners(orshareholders) | -18,104,449.44 | -18,104,449.44 | |||
| 3.Other | |||||
| (IV)Carryingforwardinternalowners’equity | |||||
| 1.Capitalreservesconversedtocapital(sharecapital) | |||||
| 2.Surplusreservesconversedtocapital(sharecapital) | |||||
| 3.Remedyinglosswithsurplusreserve | |||||
| 4．Carry-overretainedearningsfromthedefinedbenefitplans | |||||
| 5．Carry-overretainedearningsfromothercomprehensiveincome | |||||
| 6.Other | |||||
| (V)Reasonablereserve | |||||
| 1.Withdrawalinthereportperiod |
| 2.Usageinthereportperiod | ||||||||
| (VI)Others | ||||||||
| IV.Balanceattheendofthereportperiod | 431,058,320.00 | 428,256,131.23 | 23,848,485.62 | 187,380,544.20 | 1,070,543,481.05 |
LegalRepresentative:FuChunlongPersoninchargeofAccountingWorks:LouHongPersoninchargeofAccountingInstitution:LiaoZebinLastperiod
InRMB
| Item | 2019 | |||||||||||
| Sharecapital | Otherequityinstrument | Capitalpublicreserve | Less:Inventoryshares | Othercomprehensiveincome | Reasonablereserve | Surplusreserve | Retainedprofit | Other | Totalowners’equity | |||
| Preferredstock | Perpetualcapitalsecurities | Other | ||||||||||
| I.Balanceattheendofthelastyear | 297,281,600.00 | 562,032,851.23 | 3,139,918.14 | 18,545,850.31 | 881,000,219.68 | |||||||
| Add:Changesofaccountingpolicy | 6,244.84 | 618,239.52 | 624,484.36 | |||||||||
| Errorcorrectionofthelastperiod | ||||||||||||
| Other | ||||||||||||
| II.Balanceatthebeginningofthisyear | 297,281,600.00 | 562,032,851.23 | 3,146,162.98 | 19,164,089.83 | 881,624,704.04 | |||||||
| III.Increase/Decreaseinthisyear(Decreaseislistedwith“-”) | 133,776,720.00 | -133,776,720.00 | 17,861,325.75 | 160,751,931.77 | 178,613,257.52 | |||
| (i)Totalcomprehensiveincome | 178,613,257.52 | 178,613,257.52 | ||||||
| (ii)Owners’devotedanddecreasedcapital | ||||||||
| 1.Commonsharesinvestedbyshareholders | ||||||||
| 2.Capitalinvestedbyholdersofotherequityinstruments | ||||||||
| 3.Amountreckonedintoownersequitywithshare-basedpayment | ||||||||
| 4.Other | ||||||||
| (III)Profitdistribution | 17,861,325.75 | -17,861,325.75 | ||||||
| 1.Withdrawalofsurplusreserves | 17,861,325.75 | -17,861,325.75 | ||||||
| 2.Distributionforowners(orshareholders) | ||||||||
| 3.Other | ||||||||
| (IV)Carryingforwardinternalowners’equity | 133,776,720.00 | -133,776,720.00 |
| 1.Capitalreservesconversedtocapital(sharecapital) | 133,776,720.00 | -133,776,720.00 | ||||||
| 2.Surplusreservesconversedtocapital(sharecapital) | ||||||||
| 3.Remedyinglosswithsurplusreserve | ||||||||
| 4．Carry-overretainedearningsfromthedefinedbenefitplans | ||||||||
| 5．Carry-overretainedearningsfromothercomprehensiveincome | ||||||||
| 6.Other | ||||||||
| (V)Reasonablereserve | ||||||||
| 1.Withdrawalinthereportperiod | ||||||||
| 2.Usageinthereportperiod | ||||||||
| (VI)Others | ||||||||
| IV.Balanceattheendofthereportperiod | 431,058,320.00 | 428,256,131.23 | 21,007,488.73 | 179,916,021.60 | 1,060,237,961.56 |
LegalRepresentative:FuChunlongPersoninchargeofAccountingWorks:LouHongPersoninchargeofAccountingInstitution:LiaoZebin
ShenzhenTellusHoldingCo.,Ltd.NotestotheFinancialStatements
Fortheyearended31December2020
（AllamountsareexpressedinChineseYuan(“CNY”)unlessotherwisestated）
Note1.BASICINFORMATIONABOUTTHECOMPANY
1.1CorporateInformationShenzhenTellusHoldingCo.,Ltd.(“theCompany”)wasdevelopedfromtheShenzhenTellusMachineryCo.,Ltd.,whichestablishedon11October,1986.On2ndJanuary,1992,withtheapprovalofShenzhenMunicipalPeople’sGovernment“shenfubanfu(1992),No.1850”,ShenzhenTellusMachineryCo.,Ltd.reorganizedtoapubliclimitedCompanyandrenamedtoShenzhenTellusMachineryHoldingCompanyLimited.On15March1993,withtheapprovalofBankofChinaShenzhenbranch“ShenRenYinFuZi(1993)No.92”,theCompanyissuedtheinitialpublicregisteredsharesandturnedintoLimitedLiabilityCompanywiththenameof“Tellusmechanicalandelectricalco.LTD,Shenzhen”.Atthismoment,thewholesharecapitalis166.88millionshares,includingtheoriginal120.9millionshareswith45.98millionnewshares.Thenewsharesisdividedintotwoparts,oneisCNY25.98millionordinaryshares(Ashares),theotherisspecialshares(B)CNY20millionshares.InJune1993,Shenzhensecuritiesmanagementofficewasabouttoagreethat“Tellusmechanicalandelectricalco.LTD,Shenzhen“wasqualifiedtolistinShenzhenstockexchangemarket(shenzhengbanfu[1993]34)and(shenzhengshizi[1993]22).On30June1994,theCompanychangednametoShenzhenTellusHoldingCompanyLimitedwiththeapprovalofShenzhenadministrativebureauforindustryandcommerce.Accordingtothedecisionmadebygeneralmeetingofshareholdersin1993,theCompanydistributeda2for10bonusshareswithcashdividendofCNY0.5.Thewholecapitalchangedinto200,256,000shares.On28May1995,theGroupshareholdermeetingagreedaboutplanofdistributingbonusandincreasingcapital.Onthebasisof200,256,000sharesintheendof1994,theGroupdistributed0.5of10shares,andgiveCNY0.5fromeveryincreasing0.5sharecapital.AftertheGroup’ssharecapitalincreasedto220,281,600shares.Accordingtothe19thspecialmeetingofthe7thBoardMeetingonApril21st,2015,andthe4thstockholders’meetingonJune3rd,2015,theCompanyprivateissuedCNYordinaryshares(Ashares)77,000,000.00sharestoShenzhenTefaGroupCo.andShenzhenYuanzhifuhaiJewerlyInvestmentCo.Afterplan,theCompany’scapitalincreasedto297,281,600shares.Accordingtothedecisionmadebygeneralmeetingofshareholdersin2018,theCompanydistributeda4.5for10bonusshares.Thewholecapitalchangedinto431,058,320.00shares.
TheCompany’sprincipaloperatingactivitiesare:autosales,maintenanceandinspection,salesofjewelry,propertyleasingandservices,etc.Thefinancialstatementswereapprovedandauthorizedforissue,upontheresolutionoftheCompany’sBoardofDirectorsmeetingonApril15,2021.
1.2ScopeofConsolidation(a)IncorporatedsubsidiariesoftheCompanyAt31December2020,subsidiariesoftheCompanyareasfollows:
| SequenceNumber | NameofSubsidiaries | AbbreviationofSubsidiaries | ProportionofShareholding(orsimilarequityinterest)(%) | |
| Direct | Indirect | |||
| 1 | 深圳市特力新永通汽车发展有限公司(ShenzhenTellusXinyongtongAutomobileDevelopmentCo.,Ltd.*) | XinyongtongAutomobile | 100.00 | |
| 2 | 深圳市宝安石泉实业有限公司(ShenzhenBao’anShiquanIndustrialCo.,Ltd.*) | Bao’anShiquan | 100.00 | |
| 3 | 深圳市特发特力房地产有限公司(ShenzhenSDGTellusRealEstateCo.,Ltd.*) | SDGTellusRealEstate | 100.00 | |
| 4 | 深圳市特力创盈科技有限公司(ShenzhenTellusChuangyingTechnologyCo.,Ltd.*) | ChuangyingTechnology | 100.00 | |
| 5 | ShenzhenXinyongtongAutoVehicleInspectionEquipmentCo.,Ltd. | XinyongtongInspection | 51.00 | |
| 6 | 深圳市汽车工业贸易有限公司(ShenzhenAutomobileIndustryandTradeCo.,Ltd.*) | AutomobileIndustryandTrade | 100.00 | |
| 7 | 深圳市汽车工业供销公司(ShenzhenAutomobileIndustry | AutomobileIndustrySupplyand | 100.00 | |
| SequenceNumber | NameofSubsidiaries | AbbreviationofSubsidiaries | ProportionofShareholding(orsimilarequityinterest)(%) | |
| Direct | Indirect | |||
| SupplyandMarketingCo.,Ltd.*) | Marketing | |||
| 8 | 深圳特发华日汽车企业有限公司(ShenzhenSDGHuariAutomobileEnterpriseCo.,Ltd.*) | HuariAutomobile | 60.00 | |
| 9 | 深圳市华日安信汽车检测有限公司(ShenzhenHuariAnxinAutomobileInspectionCo.,Ltd.*) | AnxinAutomobileInspection | 100.00 | |
| 10 | 深圳市中天实业有限公司(ShenzhenZhongtianIndustrialCo.,Ltd.*) | Zhongtian | 100.00 | |
| 11 | 深圳市华日丰田汽车销售服务有限公司(ShenzhenHuariToyotaAutoSalesServiceCo.,Ltd.*) | HuariToyota | 60.00 | |
| 12 | 安徽特力星光珠宝投资有限公司(AnhuiTellusSeonJewelryInvestmentCo.,Ltd.*) | TellusSeonJewelry | 51.00 | |
| 13 | 安徽特力星光金尊珠宝有限公司(AnhuiTellusSeonJinzunJewelryCo.,Ltd.*) | TellusSeonJinzun | 60.00 | |
| 14 | 四川特力珠宝科技有限公司(SichuanTellusJewelryTechnologyCo.,Ltd.*) | SichuanTellus | 66.67 | |
| 15 | 深圳市特力宝库供应链科技有限公司(ShenzhenTellusBaokuSupplyChainTechnologyCo.,Ltd.*) | TellusBaoku | 100.00 | |
| 16 | 深圳珠宝产业服务有限公司(ShenzhenJewelryIndustryServiceCo.Ltd.*) | ShenzhenJewelry | 65.00 | |
Fordetailsofthesubsidiariesmentionedabove,pleaserefertoNote7INTERESTINOTHERENTITIES(b)ChangeofthescopeofconsolidationThenewlyincorporatedsubsidiariesduringthereportingperiodareasfollows:
| SequenceNumber | NameofSubsidiaries | AbbreviationofSubsidiaries | ReportingPeriod | ReasonofIncorporation |
| 1 | ShenzhenJewelryIndustryServiceCo.Ltd. | ShenzhenJewelry | 2020 | Setup |
Forthedetailofthechangeofconsolidationscope,pleaserefertoNote6CHANGESINTHESCOPEOFCONSOLIDATION.Note2.BASISOFPREPARATIONOFTHEFINANCIALSTATEMENTS
2.1BasisofPreparationBasedongoingconcern,accordingtoactuallyoccurredtransactionsandevents,theCompanypreparesitsfinancialstatementsinaccordancewiththeAccountingStandardsforBusinessEnterprises–Basicstandardsandconcreteaccountingstandards,AccountingStandardsforBusinessEnterprises–ApplicationGuidelines,AccountingStandardsforBusinessEnterprises–Interpretationsandotherrelevantprovisions(collectivelyknownas“AccountingStandardsforBusinessEnterprises,issuedbyMinistryofFinanceofPRC”).
2.2GoingConcern
TheCompanyhasassesseditsabilitytocontinuallyoperateforthenexttwelvemonthsfromtheendofthereportingperiod,andnoanymattersthatmayresultindoubtonitsabilityasagoingconcernwerenoted.Therefore,itisreasonablefortheCompanytopreparefinancialstatementsonthegoingconcernbasis.Note3.SIGNIFICANTACCOUNTINGPOLICIESANDACCOUNTINGESTIMATESThefollowingsignificantaccountingpoliciesandaccountingestimatesoftheCompanyareformulatedinaccordancewiththeAccountingStandardsforBusinessEnterprises.BusinessesnotmentionedarecompliedwithrelevantaccountingpoliciesoftheAccountingStandardsforBusinessEnterprises.
3.1StatementofCompliancewiththeAccountingStandardsforBusinessEnterprisesTheCompanypreparesitsfinancialstatementsinaccordancewiththerequirementsoftheAccountingStandardsforBusinessEnterprises,trulyandcompletelyreflectingtheCompany’sfinancialpositionasat31December2020,anditsoperatingresults,changesinshareholders'equity,cashflowsandotherrelatedinformationfortheyearthenended.
3.2AccountingPeriodTheaccountingyearoftheCompanyisfromJanuary1toDecember31incalendaryear.
3.3OperatingCycleThenormaloperatingcycleoftheCompanyistwelvemonths.
3.4FunctionalCurrencyTheCompanytakesChineseYuan(“CNY”)asthefunctionalcurrency.TheCompany’soverseassubsidiarieschoosethecurrencyoftheprimaryeconomicenvironmentinwhichthesubsidiariesoperateasthefunctionalcurrency.
3.5AccountingTreatmentofBusinessCombinationsunderandnotunderCommonControl
(a)BusinesscombinationsundercommoncontrolTheassetsandliabilitiesthattheCompanyobtainsinabusinesscombinationundercommoncontrolshallbemeasuredattheircarryingamountoftheacquiredentityatthecombinationdate.Iftheaccountingpolicyadoptedbytheacquiredentityisdifferentfromthatadoptedbytheacquiringentity,theacquiringentityshall,accordingtoaccountingpolicyitadopts,adjusttherelevantitemsinthefinancialstatementsoftheacquiredpartybasedontheprincipalofmateriality.Asforthedifferencebetweenthecarryingamountofthenetassetsobtainedbytheacquiringentityandthecarryingamountoftheconsiderationpaidbyit,thecapitalreserve(capitalpremiumorsharepremium)shallbeadjusted.Ifthecapitalreserve(capitalpremiumorsharepremium)isnotsufficienttoabsorbthedifference,anyexcessshallbeadjustedagainstretainedearnings.Fortheaccountingtreatmentofbusinesscombinationundercommoncontrolbystepacquisitions,pleaserefertoNote3.6(6).
(b)BusinesscombinationsnotundercommoncontrolTheassetsandliabilitiesthattheCompanyobtainsinabusinesscombinationnotundercommoncontrolshallbemeasuredattheirfairvalueattheacquisitiondate.Iftheaccountingpolicyadoptedbytheacquiredentityisdifferentfromthatadoptedbytheacquiringentity,theacquiringentityshall,accordingtoaccountingpolicyitadopts,adjusttherelevantitemsinthefinancialstatementsoftheacquiredentitybasedontheprincipalofmateriality.Theacquiringentityshallrecognizethepositivebalancebetweenthecombinationcostsandthefairvalueoftheidentifiablenetassetsitobtainsfromtheacquiredentityasgoodwill.Theacquiringentityshall,pursuanttothefollowingprovisions,treatthenegativebalancebetweenthecombinationcostsandthefairvalueoftheidentifiablenetassetsitobtainsfromtheacquiredentity:
(i)Itshallreviewthemeasurementofthefairvaluesoftheidentifiableassets,liabilitiesandcontingentliabilitiesitobtainsfromthe
acquiredentityaswellasthecombinationcosts;(ii)If,afterthereview,thecombinationcostsarestilllessthanthefairvalueoftheidentifiablenetassetsitobtainsfromtheacquiredentity,thebalanceshallberecognizedinprofitorlossofthereportingperiod.Fortheaccountingtreatmentofbusinesscombinationunderthesamecontrolbystepacquisitions,pleaserefertoNote3.6(f).(c)TreatmentofbusinesscombinationrelatedcostsTheintermediarycostssuchasaudit,legalservicesandvaluationconsultingandotherrelatedmanagementcoststhataredirectlyattributabletothebusinesscombinationshallbechargedinprofitorlossintheperiodinwhichtheyareincurred.Thecoststoissueequityordebtsecuritiesfortheconsiderationofbusinesscombinationshallberecordedasapartofthevalueoftherespectequityordebtsecuritiesuponinitialrecognition.
3.6MethodofPreparingtheConsolidatedFinancialStatements(a)ScopeofconsolidationThescopeofconsolidatedfinancialstatementsshallbedeterminedonthebasisofcontrol.Itnotonlyincludessubsidiariesdeterminedbasedonvotingpower(orsimilar)orotherarrangement,butalsostructuredentitiesunderoneorseveralcontractarrangements.ControlexistswhentheCompanyhasallthefollowing:powerovertheinvestee;exposure,orrightstovariablereturnsfromtheCompany’sinvolvementwiththeinvestee;andtheabilitytouseitspowerovertheinvesteetoaffecttheamountoftheinvestor’sreturns.SubsidiariesaretheentitiesthatcontrolledbytheCompany(includingenterprise,adivisiblepartoftheinvestee,andstructuredentitycontrolledbytheenterprise).Astructuredentity(sometimescalledaSpecialPurposeEntity)isanentitythathasbeendesignedsothatvotingorsimilarrightsarenotthedominantfactorindecidingwhocontrolstheentity.(b)SpecialrequirementastheparentCompanyisaninvestmententity
IftheparentCompanyisaninvestmententity,itshouldmeasureitsinvestmentsinparticularsubsidiariesasfinancialassetsatfairvaluethroughprofitorlossinsteadofconsolidatingthosesubsidiariesinitsconsolidatedandseparatefinancialstatements.However,asanexceptiontothisrequirement,ifasubsidiaryprovidesinvestment-relatedservicesoractivitiestotheinvestmententity,itshouldbeconsolidated.TheparentCompanyisdefinedasinvestmententitywhenmeetsfollowingconditions:
a.Obtainsfundsfromoneormoreinvestorsforthepurposeofprovidingthoseinvestorswithinvestmentmanagementservices;b.Commitstoitsinvestorsthatitsbusinesspurposeistoinvestfundssolelyforreturnsfromcapitalappreciation,investmentincome
orboth;andc.Measuresandevaluatestheperformanceofsubstantiallyallofitsinvestmentsonafairvaluebasis.IftheparentCompanybecomesaninvestmententity,itshallceasetoconsolidateitssubsidiariesatthedateofthechangeinstatus,exceptforanysubsidiarywhichprovidesinvestment-relatedservicesoractivitiestotheinvestmententityshallbecontinuedtobeconsolidated.Thedeconsolidationofsubsidiariesisaccountedforasthoughtheinvestmententitypartiallydisposedsubsidiarieswithoutlossofcontrol.WhentheparentCompanypreviouslyclassifiedasaninvestmententityceasestobeaninvestmententity,subsidiarythatwaspreviouslymeasuredatfairvaluethroughprofitorlossshallbeincludedinthescopeofconsolidatedfinancialstatementsatthedateofthechangeinstatus.Thefairvalueofthesubsidiaryatthedateofchangerepresentsthetransferreddeemedconsiderationinaccordancewiththeaccountingforbusinesscombinationnotundercommoncontrol.(c)Methodofpreparingtheconsolidatedfinancialstatements
TheconsolidatedfinancialstatementsshallbepreparedbytheCompanybasedonthefinancialstatementsoftheCompanyanditssubsidiaries,andusingotherrelatedinformation.Whenpreparingconsolidatedfinancialstatements,theCompanyshallconsidertheentiregroupasanaccountingentity,adoptuniformaccountingpoliciesandapplytherequirementsofAccountingStandardforBusinessEnterprisesrelatedtorecognition,measurementandpresentation.Theconsolidatedfinancialstatementsshallreflecttheoverallfinancialposition,operatingresultsandcashflowsofthegroup.(i)Likeitemsofassets,liabilities,equity,income,expensesandcashflowsoftheparentarecombinedwiththoseofthesubsidiaries.(ii)Thecarryingamountoftheparent’sinvestmentineachsubsidiaryiseliminated(off-set)againsttheparent’sportionofequityofeachsubsidiary.(iii)EliminatetheimpactofintragrouptransactionsbetweentheCompanyandthesubsidiariesorbetweensubsidiaries,andwhenintragrouptransactionsindicateanimpairmentofrelatedassets,thelossesshallberecognizedinfull.(iv)Makeadjustmentstospecialtransactionsfromtheperspectiveofthegroup.
(d)Methodofpreparationoftheconsolidatedfinancialstatementswhensubsidiariesareacquiredordisposedinthereportingperiod
(i)AcquisitionofsubsidiariesorbusinessA.Subsidiariesorbusinessacquiredthroughbusinesscombinationundercommoncontrol
Whenpreparingconsolidatedstatementsoffinancialposition,theopeningbalanceoftheconsolidatedbalancesheetshallbeadjusted.Relateditemsofcomparativefinancialstatementsshallbeadjustedaswell,deemingthatthecombinedentityhasalwaysexistedeversincetheultimatecontrollingpartybegantocontrol.Incomes,expensesandprofitsofthesubsidiaryincurredfromthebeginningofthereportingperiodtotheendofthereportingperiodshallbeincludedintotheconsolidatedstatementofprofitorloss.Relateditemsofcomparativefinancialstatementsshallbeadjustedaswell,deemingthatthecombinedentityhasalwaysexistedeversincetheultimatecontrollingpartybegantocontrol.Cashflowsfromthebeginningofthereportingperiodtotheendofthereportingperiodshallbeincludedintotheconsolidatedstatementofcashflows.Relateditemsofcomparativefinancialstatementsshallbeadjustedaswell,deemingthatthecombinedentityhasalwaysexistedeversincetheultimatecontrollingpartybegantocontrol.B.SubsidiariesorbusinessacquiredthroughbusinesscombinationnotundercommoncontrolWhenpreparingtheconsolidatedstatementsoffinancialposition,theopeningbalanceoftheconsolidatedstatementsoffinancialpositionshallnotbeadjusted.Incomes,expensesandprofitsofthesubsidiaryincurredfromtheacquisitiondatetotheendofthereportingperiodshallbeincludedintotheconsolidatedstatementofprofitorloss.Cashflowsfromtheacquisitiondatetotheendofthereportingperiodshallbeincludedintotheconsolidatedstatementofcashflows.(ii)DisposalofsubsidiariesorbusinessWhenpreparingtheconsolidatedstatementsoffinancialposition,theopeningbalanceoftheconsolidatedstatementsoffinancialpositionshallnotbeadjusted.Incomes,expensesandprofitsincurredfromthebeginningofthesubsidiarytothedisposaldateshallbeincludedintotheconsolidatedstatementofprofitorloss.Cashflowsfromthebeginningofthesubsidiarytothedisposaldateshallbeincludedintotheconsolidatedstatementofcashflows.(e)Specialconsiderationinconsolidationelimination(i)Long-termequityinvestmentheldbythesubsidiariestotheCompanyshallberecognizedastreasurystockoftheCompany,whichisoffsetwiththeowner’sequity,representedas“treasurystock”under“owner’sequity”intheconsolidatedstatementoffinancialposition.Long-termequityinvestmentheldbysubsidiariesbetweeneachotherisaccountedfortakinglong-termequityinvestmentheldbytheCompanytoitssubsidiariesasreference.Thatis,thelong-termequityinvestmentiseliminated(off-set)againsttheportionofthecorrespondingsubsidiary’sequity.
(ii)Duetonotbelongingtopaid-incapital(orsharecapital)andcapitalreserve,andbeingdifferentfromretainedearningsandundistributedprofit,“Specificreserves”and“Generalriskprovision”shallberecoveredbasedontheproportionattributabletoownersoftheparentCompanyafterlong-termequityinvestmenttothesubsidiariesiseliminatedwiththesubsidiaries’equity.(iii)Iftemporarytimingdifferencebetweenthebookvalueoftheassetsandliabilitiesintheconsolidatedstatementoffinancialpositionandtheirtaxbasisisgeneratedasaresultofeliminationofunrealizedinter-Companytransactionprofitorloss,deferredtaxassetsofdeferredtaxliabilitiesshallberecognized,andincometaxexpenseintheconsolidatedstatementofprofitorlossshallbeadjustedsimultaneously,excludingdeferredtaxesrelatedtotransactionsoreventsdirectlyrecognizedinowner’sequityorbusinesscombination.(iv)Unrealisedinter-CompanytransactionsprofitorlossgeneratedfromtheCompanysellingassetstoitssubsidiariesshallbeeliminatedagainst“netprofitattributedtotheownersoftheparentCompany”infull.Unrealizedinter-CompanytransactionsprofitorlossgeneratedfromthesubsidiariessellingassetstotheCompanyshallbeeliminatedbetween“netprofitattributedtotheownersoftheparentCompany”and“non-controllinginterests”pursuanttotheproportionoftheCompanyintherelatedsubsidiaries.Unrealizedinter-Companytransactionsprofitorlossgeneratedfromtheassetssalesbetweenthesubsidiariesshallbeeliminatedbetween“netprofitattributedtotheownersoftheparentCompany”and“non-controllinginterests”pursuanttotheproportionoftheCompanyinthesellingsubsidiaries.(v)Iflossattributedtotheminorityshareholdersofasubsidiaryincurrentperiodismorethantheproportionofnon-controllinginterestinthissubsidiaryatthebeginningoftheperiod,non-controllinginterestisstilltobewrittendown.
(f)AccountingforSpecialTransactions
(i)Purchasingofnon-controllinginterestsWhere,theCompanypurchasesnon-controllinginterestsofitssubsidiary,intheseparatefinancialstatementsoftheCompany,thecostofthelong-termequityinvestmentobtainedinpurchasingnon-controllinginterestsismeasuredatthefairvalueoftheconsiderationpaid.Intheconsolidatedfinancialstatements,differencebetweenthecostofthelong-termequityinvestmentnewlyobtainedinpurchasingnon-controllinginterestsandshareofthesubsidiary’snetassetsfromtheacquisitiondateorcombinationdatecontinuinglycalculatedpursuanttothenewlyacquiredshareholdingproportionshallbeadjustedintocapitalreserve(capitalpremiumorsharepremium).Ifcapitalreserveisnotenoughtobeoffset,surplusreserveandundistributedprofitshallbeoffsetinturn.(ii)GainingcontroloverthesubsidiaryinstagesthroughmultipletransactionsA.BusinesscombinationundercommoncontrolinstagesthroughmultipletransactionsOnthecombinationdate,intheseparatefinancialstatement,initialcostofthelong-termequityinvestmentisdeterminedaccording
totheshareofcarryingamountoftheacquiree’snetassetsintheultimatecontrollingentity’sconsolidatedfinancialstatementsaftercombination.Thedifferencebetweentheinitialcostofthelong-termequityinvestmentandthecarryingamountofthelong-terminvestmentheldpriorofcontrolplusbookvalueofadditionalconsiderationpaidatacquisitiondateisadjustedintocapitalreserve(capitalpremiumorsharepremium).Ifthecapitalreserveisnotenoughtoabsorbthedifference,anyexcessshallbeadjustedagainstsurplusreserveandundistributedprofitinturn.Intheconsolidatedfinancialstatements,theassetsandliabilitiesacquiredduringthecombinationshouldberecognizedattheircarryingamountintheultimatecontrollingentity’sconsolidatedfinancialstatementsonthecombinationdateunlessanyadjustmentisresultedfromthedifferenceinaccountingpolicies.Thedifferencebetweenthecarryingamountoftheinvestmentheldpriorofcontrolplusbookvalueofadditionalconsiderationpaidontheacquisitiondateandthenetassetsacquiredthroughthecombinationisadjustedintocapitalreserve(capitalpremiumorsharepremium).Ifthecapitalreserveisnotenoughtoabsorbthedifference,anyexcessshallbeadjustedagainstretainedearnings.Iftheacquiringentityholdsequityinvestmentintheacquiredentitypriortothecombinationdateandtheequityinvestmentisaccountedforundertheequitymethod,relatedprofitorloss,othercomprehensiveincomeandotherchangesinequitywhichhavebeenrecognizedduringtheperiodfromthelaterofthedateoftheCompanyobtainingoriginalequityinterestandthedateofboththeacquirerandtheacquireeundercommoncontrolofthesameultimatecontrollingpartytothecombinationdateshouldbeoffsetagainsttheopeningbalanceofretainedearningsatthecomparativefinancialstatementsperiodrespectively.B.BusinesscombinationnotundercommoncontrolinstagesthroughmultipletransactionsOntheconsolidationdate,intheseparatefinancialstatements,theinitialcostoflong-termequityinvestmentisdeterminedaccordingtothecarryingamountoftheoriginallong-terminvestmentplusthecostofnewinvestment.Intheconsolidatedfinancialstatements,theequityinterestoftheacquiredentityheldpriortotheacquisitiondateshallbere-measuredatitsfairvalueontheacquisitiondate.Differencebetweenthefairvalueoftheequityinterestanditsbookvalueisrecognizedasinvestmentincome.Theothercomprehensiveincomerelatedtotheequityinterestheldpriortotheacquisitiondatecalculatedthroughequitymethod,shouldbetransferredtocurrentinvestmentincomeoftheacquisitionperiod,excludingothercomprehensiveincomeresultedfromtheremeasurementofthenetassetsornetliabilitiesunderdefinedbenefitplan.TheCompanyshalldiscloseacquisition-datefairvalueoftheequityinterestheldpriortotheacquisitiondate,andtherelatedgainsorlossesduetotheremeasurementbasedonfairvalue.(iii)DisposalofinvestmentinsubsidiarieswithoutalossofcontrolForpartialdisposalofthelong-termequityinvestmentinthesubsidiarieswithoutalossofcontrol,whentheCompanypreparesconsolidatedfinancialstatements,differencebetweenconsiderationreceivedfromthedisposalandthecorrespondingshareofsubsidiary’snetassetscumulativelycalculatedfromtheacquisitiondateorcombinationdateshallbeadjustedintocapitalreserve
(capitalpremiumorsharepremium).Ifthecapitalreserveisnotenoughtoabsorbthedifference,anyexcessshallbeoffsetagainstretainedearnings.(iv)DisposalofinvestmentinsubsidiarieswithalossofcontrolA.DisposalthroughonetransactionIftheCompanylosescontrolinaninvesteethroughpartialdisposaloftheequityinvestment,whentheconsolidatedfinancialstatementsareprepared,theretainedequityinterestshouldbere-measuredatfairvalueatthedateoflossofcontrol.Thedifferencebetweeni)thefairvalueofconsiderationreceivedfromthedisposalplusnon-controllinginterestretained;ii)shareoftheformersubsidiary’snetassetscumulativelycalculatedfromtheacquisitiondateorcombinationdateaccordingtotheoriginalproportionofequityinterest,shallberecognizedincurrentinvestmentincomewhencontrolislost.Moreover,othercomprehensiveincomeandotherchangesinequityrelatedtotheequityinvestmentintheformersubsidiaryshallbetransferredintocurrentinvestmentincomewhencontrolislost,excludingothercomprehensiveincomeresultedfromtheremeasurementofthemovementofnetassetsornetliabilitiesunderdefinedbenefitplan.B.DisposalinstagesIntheconsolidatedfinancialstatements,whetherthetransactionsshouldbeaccountedforas“asingletransaction”needstobedecidedfirstly.Ifthedisposalinstagesshouldnotbeclassifiedas“asingletransaction”,intheseparatefinancialstatements,fortransactionspriorofthedateoflossofcontrol,carryingamountofeachdisposaloflong-termequityinvestmentneedtoberecognized,andthedifferencebetweenconsiderationreceivedandthecarryingamountoflong-termequityinvestmentcorrespondingtotheequityinterestdisposedshouldberecognizedincurrentinvestmentincome;intheconsolidatedfinancialstatements,thedisposaltransactionshouldbeaccountedforaccordingtorelatedpolicyin“Disposaloflong-termequityinvestmentinsubsidiarieswithoutalossofcontrol”.Ifthedisposalinstagesshouldbeclassifiedas“asingletransaction”,thesetransactionsshouldbeaccountedforasasingletransactionofdisposalofsubsidiaryresultinginlossofcontrol.Intheseparatefinancialstatements,foreachtransactionpriorofthedateoflossofcontrol,differencebetweenconsiderationreceivedandthecarryingamountoflong-termequityinvestmentcorrespondingtotheequityinterestdisposedshouldberecognizedasothercomprehensiveincomefirstly,andtransferredtoprofitorlossasawholewhencontrolislost;intheconsolidatedfinancialstatements,foreachtransactionpriorofthedateoflossofcontrol,differencebetweenconsiderationreceivedandproportionofthesubsidiary’snetassetscorrespondingtotheequityinterestdisposedshouldberecognizedinprofitorlossasawholewhencontrolislost.Inconsideringofthetermsandconditionsofthetransactionsaswellastheireconomicimpact,thepresenceofoneormoreofthefollowingindicatorsmayleadtoaccountformultipletransactionsasasingletransaction:
(a)Thetransactionsareenteredintosimultaneouslyorincontemplationofoneanother.(b)Thetransactionsformasingletransactiondesignedtoachieveanoverallcommercialeffect.(c)Theoccurrenceofonetransactiondependsontheoccurrenceofatleastoneothertransaction.(d)Onetransaction,whenconsideredonitsownmerits,doesnotmakeeconomicsense,butwhenconsideredtogetherwiththeothertransactionortransactionswouldbeconsideredeconomicallyjustifiable.(iii)DilutingequityshareofparentCompanyinitssubsidiariesduetoadditionalcapitalinjectionbythesubsidiaries’minorityshareholders.Othershareholders(minorityshareholders)ofthesubsidiariesinjectadditionalcapitalinthesubsidiaries,whichresultedinthedilutionofequityinterestofparentCompanyinthesesubsidiaries.Intheconsolidatedfinancialstatements,differencebetweenshareofthecorrespondingsubsidiaries’netassetscalculatedbasedontheparent’sequityinterestbeforeandafterthecapitalinjectionshallbeadjustedintocapitalreserve(capitalpremiumorsharepremium).Ifthecapitalreserveisnotenoughtoabsorbthedifference,anyexcessshallbeadjustedagainstretainedearnings.
3.7ClassificationofJointArrangementsandAccountingforJointOperationAjointarrangementisanarrangementofwhichtwoormorepartieshavejointcontrol.JointarrangementoftheCompanyisclassifiedaseitherajointoperationorajointventure.(a)Jointoperation
Ajointoperationisajointarrangementwherebythepartiesthathavejointcontrolofthearrangementhaverightstotheassets,andobligationsfortheliabilities,relatingtothearrangement.TheCompanyshallrecognizethefollowingitemsinrelationtosharedinterestinajointoperation,andaccountfortheminaccordancewithrelevantaccountingstandardsoftheAccountingStandardsforBusinessEnterprises:
(i)itsassets,includingitsshareofanyassetsheldjointly;(ii)itsliabilities,includingitsshareofanyliabilitiesincurredjointly;(iii)itsrevenuefromthesaleofitsshareoftheoutputarisingfromthejointoperation;(iv)itsshareoftherevenuefromthesaleoftheoutputbythejointoperation;and(v)itsexpenses,includingitsshareofanyexpensesincurredjointly.(b)JointventureAjointventureisajointarrangementwherebythepartiesthathavejointcontrolofthearrangementhaverightstothenetassetsofthearrangement.
TheCompanyaccountsforitsinvestmentinthejointventurebyapplyingtheequitymethodoflong-termequityinvestment.
3.8CashandCashEquivalentsCashcomprisescashonhandanddepositsthatcanbereadilywithdrawnondemand.Cashequivalentsincludeshort-term(generallywithinthreemonthsofmaturityatacquisition),highlyliquidinvestmentsthatarereadilyconvertibleintoknownamountsofcashandwhicharesubjecttoaninsignificantriskofchangesinvalue.
3.9ForeignCurrencyTransactionsandTranslationofForeignCurrencyFinancialStatements
(a)DeterminationoftheexchangerateforforeigncurrencytransactionsAtthetimeofinitialrecognitionofaforeigncurrencytransaction,theamountintheforeigncurrencyshallbetranslatedintotheamountinthefunctionalcurrencyatthespotexchangerateofthetransactiondate,oratanexchangeratewhichisdeterminedthroughasystematicandreasonablemethodandisapproximatetothespotexchangerateofthetransactiondate(hereinafterreferredtoastheapproximateexchangerate).
(b)TranslationofmonetaryitemsdenominatedinforeigncurrencyonthebalancesheetdateTheforeigncurrencymonetaryitemsshallbetranslatedatthespotexchangerateonthebalancesheetdate.Thebalanceofexchangearisingfromthedifferencebetweenthespotexchangerateonthebalancesheetdateandthespotexchangerateatthetimeofinitialrecognitionorpriortothebalancesheetdateshallberecordedintotheprofitsandlossesatthecurrentperiod.Theforeigncurrencynon-monetaryitemsmeasuredatthehistoricalcostshallstillbetranslatedatthespotexchangerateonthetransactiondate;fortheforeigncurrencynon-monetaryitemsrestatedtoafairvaluemeasurement,shallbetranslatedintotheatthespotexchangerateatthedatewhenthefairvaluewasdetermined,thedifferencebetweentherestatedfunctionalcurrencyamountandtheoriginalfunctionalcurrencyamountshallberecordedintotheprofitsandlossesatthecurrentperiod.(c)TranslationofforeigncurrencyfinancialstatementsBeforetranslatingthefinancialstatementsofforeignoperations,theaccountingperiodandaccountingpolicyshallbeadjustedsoas
toconformtotheCompany.Theadjustedforeignoperationfinancialstatementsdenominatedinforeigncurrency(otherthanfunctionalcurrency)shallbetranslatedinaccordancewiththefollowingmethod:
(i)Theassetandliabilityitemsinthestatementoffinancialpositionshallbetranslatedatthespotexchangeratesatthedateofthatstatementoffinancialposition..Theowners’equityitemsexceptundistributedprofitshallbetranslatedatthespotexchangerateswhentheyareincurred.(ii)Theincomeandexpenseitemsinthestatementofprofitandothercomprehensiveincomeshallbetranslatedatthespotexchangeratesorapproximateexchangerateatthedateoftransaction.Foreigncurrencycashflowsandcashflowsofforeignsubsidiariesshallbetranslatedatthespotexchangerateorapproximateexchangeratewhenthecashflowsareincurred.Theeffectofexchangeratechangesoncashispresentedseparatelyinthestatementofcashflowsasanadjustmentitem.(iv)Thedifferencesarisingfromthetranslationofforeigncurrencyfinancialstatementsshallbepresentedseparatelyas“othercomprehensiveincome”undertheowners’equityitemsoftheconsolidatedstatementoffinancialposition.Whendisposingaforeignoperationinvolvinglossofcontrol,thecumulativeamountoftheexchangedifferencesrelatingtothatforeignoperationrecognizedunderothercomprehensiveincomeinthestatementoffinancialposition,shallbereclassifiedintocurrentprofitorlossaccordingtotheproportiondisposed.
3.10FinancialInstrumentsFinancialinstrumentisanycontractwhichgivesrisetobothafinancialassetofoneentityandafinancialliabilityorequityinstrumentofanotherentity.
(a)Recognitionandderecognitionoffinancialinstrument
Afinancialassetorafinancialliabilityshouldberecognizedinthestatementoffinancialpositionwhen,andonlywhen,anentitybecomespartytothecontractualprovisionsoftheinstrument.Afinancialassetcanonlybederecognizedwhenmeetsoneofthefollowingconditions:
(i)Therightstothecontractualcashflowsfromafinancialassetexpire(ii)Thefinancialassethasbeentransferredandmeetsoneofthefollowingderecognitionconditions:
Financialliabilities(orpartthereof)arederecognizedonlywhentheliabilityisextinguished—i.e.,whentheobligationspecifiedinthecontractisdischargedorcancelledorexpires.AnexchangeoftheCompany(borrower)andlenderofdebtinstrumentsthatcarrysignificantlydifferenttermsorasubstantialmodificationofthetermsofanexistingliabilityarebothaccountedforasanextinguishmentoftheoriginalfinancialliabilityandtherecognitionofanewfinancialliability.Purchaseorsaleoffinancialassetsinaregular-wayshallberecognizedandderecognizedusingtradedateaccounting.Aregular-waypurchaseorsaleoffinancialassetsisatransactionunderacontractwhosetermsrequiredeliveryoftheassetwithinthetimeframe
establishedgenerallybyregulationsorconventioninthemarketplaceconcerned.Tradedateisthedateatwhichtheentitycommitsitselftopurchaseorsellanasset.
(b)Classificationandmeasurementoffinancialassets
Atinitialrecognition,theCompanyclassifieditsfinancialassetbasedonboththebusinessmodelformanagingthefinancialassetandthecontractualcashflowcharacteristicsofthefinancialasset:financialassetatamortizedcost,financialassetatfairvaluethroughprofitorloss(FVTPL)andfinancialassetatfairvaluethroughothercomprehensiveincome(FVTOCI).Reclassificationoffinancialassetsispermittedif,andonlyif,theobjectiveoftheentity’sbusinessmodelformanagingthosefinancialassetschanges.Inthiscircumstance,allaffectedfinancialassetsshallbereclassifiedonthefirstdayofthefirstreportingperiodafterthechangesinbusinessmodel;otherwisethefinancialassetscannotbereclassifiedafterinitialrecognition.Financialassetsshallbemeasuredatinitialrecognitionatfairvalue.ForfinancialassetsmeasuredatFVTPL,transactioncostsarerecognizedincurrentprofitorloss.ForfinancialassetsnotmeasuredatFVTPL,transactioncostsshouldbeincludedintheinitialmeasurement.Notesreceivableoraccountsreceivablethatarisefromsalesofgoodsorrenderingofservicesareinitiallymeasuredatthetransactionpricedefinedintheaccountingstandardofrevenuewherethetransactiondoesnotincludeasignificantfinancingcomponent.Subsequentmeasurementoffinancialassetswillbebasedontheircategories:
(i)FinancialassetatamortizedcostThefinancialassetatamortizedcostcategoryofclassificationapplieswhenboththefollowingconditionsaremet:thefinancialassetisheldwithinthebusinessmodelwhoseobjectiveistoholdfinancialassetsinordertocollectcontractualcashflows,andthecontractualtermofthefinancialassetgivesriseonspecifieddatestocashflowsthataresolelypaymentofprincipalandinterestontheprincipalamountoutstanding.Thesefinancialassetsaresubsequentlymeasuredatamortizedcostbyadoptingtheeffectiveinterestratemethod.Anygainorlossarisingfromderecognitionaccordingtotheamortizationundereffectiveinterestratemethodorimpairmentarerecognizedincurrentprofitorloss.(ii)Financialassetatfairvaluethroughothercomprehensiveincome(FVTOCI)ThefinancialassetatFVTOCIcategoryofclassificationapplieswhenboththefollowingconditionsaremet:thefinancialassetisheldwithinthebusinessmodelwhoseobjectiveisachievedbybothcollectingcontractualcashflowsandsellingfinancialassets,andthecontractualtermofthefinancialassetgivesriseonspecifieddatestocashflowsthataresolelypaymentofprincipleandinterestontheprincipalamountoutstanding.Allchangesinfairvaluearerecognizedinothercomprehensiveincomeexceptforgainorlossarisingfromimpairmentorexchangedifferences,whichshouldberecognizedincurrentprofitorloss.Atderecognition,cumulativegainorlosspreviouslyrecognizedunderOCIisreclassifiedtocurrentprofitorloss.However,interestincomecalculatedbasedon
theeffectiveinterestrateisincludedincurrentprofitorloss.TheCompanymakeanirrevocabledecisiontodesignatepartofnon-tradingequityinstrumentinvestmentsasmeasuredthroughFVTOCI.Allchangesinfairvaluearerecognizedinothercomprehensiveincomeexceptfordividendincomerecognizedincurrentprofitorloss.Atderecognition,cumulativegainorlossarereclassifiedtoretainedearnings.(iii)Financialassetatfairvaluethroughprofitorloss(FVTPL)Financialassetexceptforabovementionedfinancialassetatamortizedcostorfinancialassetatfairvaluethroughothercomprehensiveincome(FVTOCI),shouldbeclassifiedasfinancialassetatfairvaluethroughprofitorloss(FVTPL).Thesefinancialassetsshouldbesubsequentlymeasuredatfairvalue.Allthechangesinfairvalueareincludedincurrentprofitorloss.
(c)Classificationandmeasurementoffinancialliabilities
TheCompanyclassifiedthefinancialliabilitiesasfinancialliabilitiesatfairvaluethroughprofitorloss(FVTPL),loancommitmentsatabelow-marketinterestrateandfinancialguaranteecontractsandfinancialassetatamortizedcost.Subsequentmeasurementoffinancialassetswillbebasedontheclassification:
(i)Financialliabilitiesatfairvaluethroughprofitorloss(FVTPL)Held-for-tradingfinancialliabilities(includingderivativesthatarefinancialliabilities)andfinancialliabilitiesdesignatedatFVTPLareclassifiedasfinancialliabilitiesatFVTP.Afterinitialrecognition,anygainorloss(includinginterestexpense)arerecognizedincurrentprofitorlossexceptforthosehedgeaccountingisapplied.ForfinancialliabilitythatisdesignatedasatFVTPL,changesinthefairvalueofthefinancialliabilitythatisattributabletochangesintheowncreditriskoftheissuershallbepresentedinothercomprehensiveincome.Atderecognition,cumulativegainorlosspreviouslyrecognizedunderOCIisreclassifiedtoretainedearnings.
(ii)LoancommitmentsandfinancialguaranteecontractsLoancommitmentisacommitmentbytheCompanytoprovidealoantocustomerunderspecifiedcontractterms.Theprovisionofimpairmentlossesofloancommitmentsshallberecognizedbasedonexpectedcreditlossesmodel.FinancialguaranteecontractisacontractthatrequirestheCompanytomakespecifiedpaymentstoreimbursetheholderforalossitincursbecauseaspecifieddebtorfailstomakepaymentwhendueinaccordancewiththeoriginalormodifiedtermsofadebtinstrument.Financialguaranteecontractsliabilityshallbesubsequentlymeasuredatthehigherof:Theamountofthelossallowancerecognizedaccordingtotheimpairmentprinciplesoffinancialinstruments;andtheamountinitiallyrecognizedlessthecumulative
amountofincomerecognizedinaccordancewiththerevenueprinciples.(iii)FinancialliabilitiesatamortizedcostAfterinitialrecognition,theCompanymeasuredotherfinancialliabilitiesatamortizedcostusingtheeffectiveinterestmethod.Exceptforspecialsituation,financialliabilitiesandequityinstrumentshouldbeclassifiedinaccordancewiththefollowingprinciples:
(i)IftheCompanyhasnounconditionalrighttoavoiddeliveringcashoranotherfinancialinstrumenttofulfillacontractualobligation,thiscontractualobligationmeetthedefinitionoffinancialliabilities.Somefinancialinstrumentsdonotcomprisetermsandconditionsrelatedtoobligationsofdeliveringcashoranotherfinancialinstrumentexplicitly,theymayincludecontractualobligationindirectlythroughothertermsandconditions.(ii)IfafinancialinstrumentmustormaybesettledintheCompany'sownequityinstruments,itshouldbeconsideredthattheCompany’sownequityinstrumentsarealternativesofcashoranotherfinancialinstrument,ortoentitletheholderoftheequityinstrumentstosharingtheremainingrightsoverthenetassetsoftheissuer.Iftheformeristhecase,theinstrumentisaliabilityoftheissuer;otherwise,itisanequityinstrumentoftheissuer.Undersomecircumstances,itisregulatedinthecontractthatthefinancialinstrumentmustormaybesettledintheCompany'sownequityinstruments,where,amountofcontractualrightsandobligationsarecalculatedbymultiplyingthenumberoftheequityinstrumentstobeavailableordeliveredbyitsfairvalueuponsettlement.Suchcontractsshallbeclassifiedasfinancialliabilities,regardlessthattheamountofcontractualrightsandliabilitiesisfixed,orfluctuatetotallyorpartiallywithvariablesotherthanmarketpriceoftheentity’sownequityinstruments(suchasinterestrate,priceofsomekindofgoodsorsomekindoffinancialinstrument).
(d)Derivativesandembeddedderivatives
Atinitialrecognition,derivativesshallbemeasuredatfairvalueatthedateofderivativecontractsaresignedandsubsequentlymeasuredatfairvalue.Thederivativewithapositivefairvalueshallberecognizedasanasset,andwithanegativefairvalueshallberecognizedasaliability.Gainsorlossesarisingfromthechangesinfairvalueofderivativesshallberecognizeddirectlyintocurrentprofitorlossexceptfortheeffectiveportionofcashflowhedgeswhichshallberecognizedinothercomprehensiveincomeandreclassifiedintocurrentprofitorlosswhenthehedgeditemsaffectprofitorloss.Anembeddedderivativeisacomponentofahybridcontractwithafinancialassetasahost,theCompanyshallapplytherequirementsoffinancialassetclassificationtotheentirehybridcontract.Ifahostthatisnotafinancialassetandthehybridcontractisnotmeasuredatfairvaluewithchangesinfairvaluerecognizedinprofitorloss,andtheeconomiccharacteristicsandrisksoftheembeddedderivativearenotcloselyrelatedtotheeconomiccharacteristicsandrisksofthehost,andaseparateinstrumentwiththe
sametermsastheembeddedderivativewouldmeetthedefinitionofaderivative,theembeddedderivativeshallbeseparatedfromthehybridinstrumentandaccountedforasaseparatederivativeinstrument.IftheCompanyisunabletomeasurethefairvalueoftheembeddedderivativeattheacquisitiondateorsubsequentlyatthebalancesheetdate,theentirehybridcontractisdesignatedasfinancialassetsorfinancialliabilitiesatfairvaluethroughprofitorloss.
(e)Impairmentoffinancialinstrument
TheCompanyshallrecognizealossallowancebasedonexpectedcreditlossesonafinancialassetthatismeasuredatamortizedcost,adebtinvestmentatfairvaluethroughothercomprehensiveincome,acontractasset,aleasereceivable,aloancommitmentandafinancialguaranteecontract.(i)MeasurementofexpectedcreditlossesExpectedcreditlossesaretheweightedaverageofcreditlossesofthefinancialinstrumentswiththerespectiverisksofadefaultoccurringastheweights.CreditlossisthedifferencebetweenallcontractualcashflowsthatareduetotheCompanyinaccordancewiththecontractandallthecashflowsthattheCompanyexpectstoreceive(ieallcashshortfalls),discountedattheoriginaleffectiveinterestrateorcredit-adjustedeffectiveinterestrateforpurchasedororiginatedcredit-impairedfinancialassets.Lifetimeexpectedcreditlossesaretheexpectedcreditlossesthatresultfromallpossibledefaulteventsovertheexpectedlifeofafinancialinstrument.12-monthexpectedcreditlossesaretheportionoflifetimeexpectedcreditlossesthatrepresenttheexpectedcreditlossesthatresultfromdefaulteventsonafinancialinstrumentthatarepossiblewithinthe12monthsafterthereportingdate(ortheexpectedlifetime,iftheexpectedlifeofafinancialinstrumentislessthan12months).Ateachreportingdate,theCompanyclassifiesfinancialinstrumentsintothreestagesandmakesprovisionsforexpectedcreditlossesaccordingly.Afinancialinstrumentofwhichthecreditriskhasnotsignificantlyincreasedsinceinitialrecognitionisatstage1.TheCompanyshallmeasurethelossallowanceforthatfinancialinstrumentatanamountequalto12-monthexpectedcreditlosses.Afinancialinstrumentwithasignificantincreaseincreditrisksinceinitialrecognitionbutisnotconsideredtobecredit-impairedisatstage2.TheCompanyshallmeasurethelossallowanceforthatfinancialinstrumentatanamountequaltothelifetimeexpectedcreditlosses.Afinancialinstrumentisconsideredtobecredit-impairedasattheendofthereportingperiodisatstage3.TheCompanyshallmeasurethelossallowanceforthatfinancialinstrumentatanamountequaltothelifetimeexpectedcreditlosses.TheCompanymayassumethatthecreditriskonafinancialinstrumenthasnotincreasedsignificantlysinceinitialrecognitionifthefinancialinstrumentisdeterminedtohavelowcreditriskatthereportingdateandmeasurethelossallowanceforthatfinancialinstrumentatanamountequalto12-monthexpectedcreditlosses.
Forfinancialinstrumentatstage1,stage2andthosehavelowcreditrisk,theinterestrevenueshallbecalculatedbyapplyingtheeffectiveinterestratetothegrosscarryingamountofafinancialasset(ie,impairmentlossnotbeendeducted).Forfinancialinstrumentatstage3,interestrevenueshallbecalculatedbyapplyingtheeffectiveinterestratetotheamortizedcostafterdeductingofimpairmentloss.Fornotesreceivable,accountsreceivableandaccountsreceivablefinancing,nomatteritcontainsasignificantfinancingcomponentornot,theCompanyshallmeasurethelossallowanceatanamountequaltothelifetimeexpectedcreditlosses.(a)Receivables/ContractAssetsForthenotesreceivable,accountsreceivable,otherreceivables,accountsreceivablefinancing,contractassetsandlong-termreceivableswhicharedemonstratedtobeimpairedbyanyobjectiveevidence,orapplicableforindividualassessment,theCompanyshallindividuallyassessforimpairmentandrecognizethelossallowanceforexpectedcreditlosses.IftheCompanydeterminesthatnoobjectiveevidenceofimpairmentexistsfornotesreceivable,accountsreceivable,otherreceivables,accountsreceivablefinancing,contractassetsandlong-termreceivables,ortheexpectedcreditlossofasinglefinancialassetcannotbeassessedatreasonablecost,suchnotesreceivable,accountsreceivable,otherreceivables,accountsreceivablefinancing,contractassetsandlong-termreceivablesshallbedividedintoseveralgroupswithsimilarcreditriskcharacteristicsandcollectivelycalculatedtheexpectedcreditloss.Thedeterminationbasisofgroupsisasfollowing:
Determinationbasisofnotesreceivableisasfollowing:
Illustration:
Group1:CommercialacceptancebillsGroup2:BankacceptancebillsForeachgroup,theCompanycalculatesexpectedcreditlossesthroughdefaultexposureandthelifetimeexpectedcreditlossesrate,takingreferencetohistoricalexperienceforcreditlossesandconsideringcurrentconditionandexpectationforthefutureeconomicsituation.Determinationbasisofaccountsreceivableisasfollowing:
Illustration:
Group1:PortfoliogroupedwithagesGroup2:PortfoliogroupedwithbusinessofjewelrysalesForeachgroup,theCompanycalculatesexpectedcreditlossesthroughpreparinganaginganalysisschedulewiththelifetimeexpectedcreditlossesrate,takingreferencetohistoricalexperienceforcreditlossesandconsideringcurrentconditionandexpectationforthefutureeconomicsituation.
Determinationbasisofotherreceivablesisasfollowing:
Illustration:
Group1:InterestreceivableGroup2:DividendreceivableGroup3:PortfoliogroupedwithagesGroup4:DepositandguaranteereceivableGroup5:PortfoliogroupedwithbalancesduefromconsolidatedpartiesForeachgroup,theCompanycalculatesexpectedcreditlossesthroughdefaultexposureandthe12-monthsorlifetimeexpectedcreditlossesrate,takingreferencetohistoricalexperienceforcreditlossesandconsideringcurrentconditionandexpectationforthefutureeconomicsituation.Determinationbasisoflong-termreceivablesfinancingisasfollowing:
Illustration:
Group1:OthersForgroup1,theCompanycalculatesexpectedcreditlossesthroughdefaultexposureandthe12-monthsorlifetimeexpectedcreditlossesrate,takingreferencetohistoricalexperienceforcreditlossesandconsideringcurrentconditionandexpectationforthefutureeconomicsituation.(b)DebtinvestmentandotherdebtinvestmentFordebtinvestmentandotherdebtinvestment,theCompanyshallcalculatetheexpectedcreditlossthroughthedefaultexposureandthe12-monthorlifetimeexpectedcreditlossratebasedonthenatureoftheinvestment,counterpartyandthetypeofriskexposure.(ii)LowcreditriskIfthefinancialinstrumenthasalowriskofdefault,theborrowerhasastrongcapacitytomeetitscontractualcashflowobligationsintheneartermandadversechangesineconomicandbusinessconditionsinthelongertermmay,butwillnotnecessarily,reducetheabilityoftheborrowertofulfillitscontractualcashflowobligations.(iii)SignificantincreaseincreditriskTheCompanyshallassesswhetherthecreditriskonafinancialinstrumenthasincreasedsignificantlysinceinitialrecognition,usingthechangeintheriskofadefaultoccurringovertheexpectedlifeofthefinancialinstrument,throughthecomparisonoftheriskofadefaultoccurringonthefinancialinstrumentasatthereportingdatewiththeriskofadefaultoccurringonthefinancialinstrumentasatthedateofinitialrecognition.Tomakethatassessment,theCompanyshallconsiderreasonableandsupportableinformation,thatisavailablewithoutunduecostor
effort,andthatisindicativeofsignificantincreasesincreditrisksinceinitialrecognition,includingforward-lookinginformation.TheinformationconsideredbytheCompanyareasfollowing:
?Significantchangesininternalpriceindicatorsofcreditriskasaresultofachangeincreditrisksinceinception?Existingorforecastadversechangeinthebusiness,financialoreconomicconditionsoftheborrowerthatresultsinasignificantchangeintheborrower’sabilitytomeetitsdebtobligations；
?Anactualorexpectedsignificantchangeintheoperatingresultsoftheborrower;Anactualorexpectedsignificantadversechangeintheregulatory,economic,ortechnologicalenvironmentoftheborrower；?Significantchangesinthevalueofthecollateralsupportingtheobligationorinthequalityofthird-partyguaranteesorcreditenhancements,whichareexpectedtoreducetheborrower’seconomicincentivetomakescheduledcontractualpaymentsortootherwisehaveaneffectontheprobabilityofadefaultoccurring;
?Significantchangethatareexpectedtoreducetheborrower’seconomicincentivetomakescheduledcontractualpayments;
?Expectedchangesintheloandocumentationincludinganexpectedbreachofcontractthatmayleadtocovenantwaiversoramendments,interestpaymentholidays,interestratestep-ups,requiringadditionalcollateralorguarantees,orotherchangestothecontractualframeworkoftheinstrument；
?Significantchangesintheexpectedperformanceandbehaviouroftheborrower；
?Contractualpaymentsaremorethan30dayspastdue.Dependingonthenatureofthefinancialinstruments,theCompanyshallassesswhetherthecreditriskhasincreasedsignificantlysinceinitialrecognitiononanindividualfinancialinstrumentoragroupoffinancialinstruments.Whenassessedbasedonagroupoffinancialinstruments,theCompanycangroupfinancialinstrumentsonthebasisofsharedcreditriskcharacteristics,forexample,pastdueinformationandcreditriskrating.Generally,theCompanyshalldeterminethecreditriskonafinancialassethasincreasedsignificantlysinceinitialrecognitionwhencontractualpaymentsaremorethan30dayspastdue.TheCompanycanonlyrebutthispresumptioniftheCompanyhasreasonableandsupportableinformationthatisavailablewithoutunduecostoreffort,thatdemonstratesthatthecreditriskhasnotincreasedsignificantlysinceinitialrecognitioneventhoughthecontractualpaymentsaremorethan30dayspastdue.(iv)Credit-impairedfinancialassetTheCompanyshallassessateachreportingdatewhetherthecreditimpairmenthasoccurredforfinancialassetatamortizedcostand
debtinvestmentatfairvaluethroughothercomprehensiveincome.Afinancialassetiscredit-impairedwhenoneormoreeventsthathaveadetrimentalimpactontheestimatedfuturecashflowsofthatfinancialassethaveoccurred.Evidencesthatafinancialassetiscredit-impairedincludeobservabledataaboutthefollowingevents:
Significantfinancialdifficultyoftheissuerortheborrower；abreachofcontract,suchasadefaultorpastdueevent;thelender(s)oftheborrower,foreconomicorcontractualreasonsrelatingtotheborrower’sfinancialdifficulty,havinggrantedtotheborroweraconcession(s)thatthelender(s)wouldnototherwiseconsider；itisbecomingprobablethattheborrowerwillenterbankruptcyorotherfinancialreorganisation；thedisappearanceofanactivemarketforthatfinancialassetbecauseoffinancialdifficulties；thepurchaseororiginationofafinancialassetatadeepdiscountthatreflectstheincurredcreditlosses.(v)PresentationofimpairmentofexpectedcreditlossInordertoreflectthechangesofcreditriskoffinancialinstrumentsinceinitialrecognition,theCompanyshallateachreportingdateremeasuretheexpectedcreditlossandrecognizeinprofitorloss,asanimpairmentgainorloss,theamountofexpectedcreditlossesaddition(orreversal).Forfinancialassetatamortizedcost,thelossallowanceshallreducethecarryingamountofthefinancialassetinthestatementoffinancialposition;fordebtinvestmentatfairvaluethroughothercomprehensiveincome,thelossallowanceshallberecognizedinothercomprehensiveincomeandshallnotreducethecarryingamountofthefinancialassetinthestatementoffinancialposition.(vi)Write-offTheCompanyshalldirectlyreducethegrosscarryingamountofafinancialassetwhentheCompanyhasnoreasonableexpectationsofrecoveringthecontractualcashflowofafinancialassetinitsentiretyoraportionthereof.Suchwrite-offconstitutesaderecognitionofthefinancialasset.ThiscircumstanceusuallyoccurswhentheCompanydeterminesthatthedebtorhasnoassetsorsourcesofincomethatcouldgeneratesufficientcashflowtorepaythewrite-offamount.Recoveryoffinancialassetwrittenoffshallberecognizedinprofitorlossasreversalofimpairmentloss.
(f)Transferoffinancialassets
Transferoffinancialassetsreferstofollowingtwosituations:
?Transfersthecontractualrightstoreceivethecashflowsofthefinancialasset;?Transferstheentireorapartofafinancialassetandretainsthecontractualrightstoreceivethecashflowsofthefinancialasset,butassumesacontractualobligationtopaythecashflowstooneormorerecipients.(i)DerecognitionoftransferredassetsIftheCompanytransferssubstantiallyalltherisksandrewardsofownershipofthefinancialasset,orneithertransfersnorretains
substantiallyalltherisksandrewardsofownershipofthefinancialassetbuthasnotretainedcontrolofthefinancialasset,thefinancialassetshallbederecognized.WhethertheCompanyhasretainedcontrolofthetransferredassetdependsonthetransferee’sabilitytoselltheasset.Ifthetransfereehasthepracticalabilitytoselltheassetinitsentiretytoanunrelatedthirdpartyandisabletoexercisethatabilityunilaterallyandwithoutneedingtoimposeadditionalrestrictionsonthetransfer,theCompanyhasnotretainedcontrol.TheCompanyjudgeswhetherthetransferoffinancialassetqualifiesforderecognitionbasedonthesubstanceofthetransfer.Ifthetransferoffinancialassetqualifiesforderecognitioninitsentirety,thedifferencebetweenthefollowingshallberecognizedinprofitorloss:
?Thecarryingamountoftransferredfinancialasset;?Thesumofconsiderationreceivedandthepartderecognizedofthecumulativechangesinfairvaluepreviouslyrecognizedinothercomprehensiveincome(ThefinancialassetsinvolvedinthetransferareclassifiedasfinancialassetsatfairvaluethroughothercomprehensiveincomeinaccordancewithArticle18oftheAccountingStandardsforBusinessEnterprises-RecognitionandMeasurementofFinancialInstruments).Ifthetransferredassetisapartofalargerfinancialassetandtheparttransferredqualifiesforderecognition,thepreviouscarryingamountofthelargerfinancialassetshallbeallocatedbetweenthepartthatcontinuestoberecognized(Forthispurpose,aretainedservicingassetshallbetreatedasapartthatcontinuestoberecognized)andthepartthatisderecognized,basedontherelativefairvaluesofthosepartsonthedateofthetransfer.Thedifferencebetweenfollowingtwoamountsshallberecognizedinprofitorloss:
?Thecarryingamount(measuredatthedateofderecognition)allocatedtothepartderecognized；?Thesumoftheconsiderationreceivedforthepartderecognizedandpartderecognizedofthecumulativechangesinfairvaluepreviouslyrecognizedinothercomprehensiveincome(ThefinancialassetsinvolvedinthetransferareclassifiedasfinancialassetsatfairvaluethroughothercomprehensiveincomeinaccordancewithArticle18oftheAccountingStandardsforBusinessEnterprises-RecognitionandMeasurementofFinancialInstruments).(ii)ContinuinginvolvementintransferredassetsIftheCompanyneithertransfersnorretainssubstantiallyalltherisksandrewardsofownershipofatransferredasset,andretainscontrolofthetransferredasset,theCompanyshallcontinuetorecognizethetransferredassettotheextentofitscontinuinginvolvementandalsorecognizeanassociatedliability.TheextentoftheCompany’scontinuinginvolvementinthetransferredassetistheextenttowhichitisexposedtochangesinthevalueofthetransferredasset
(iii)ContinuetorecognizethetransferredassetsIftheCompanyretainssubstantiallyalltherisksandrewardsofownershipofthetransferredfinancialasset,theCompanyshallcontinuetorecognizethetransferredassetinitsentiretyandtheconsiderationreceivedshallberecognizedasafinancialliability.Thefinancialassetandtheassociatedfinancialliabilityshallnotbeoffset.Insubsequentaccountingperiod,theCompanyshallcontinuouslyrecognizeanyincome(gain)arisingfromthetransferredassetandanyexpense(loss)incurredontheassociatedliability.
(g)Offsettingfinancialassetsandfinancialliabilities
Financialassetsandfinancialliabilitiesshallbepresentedseparatelyinthestatementoffinancialpositionandshallnotbeoffset.Whenmeetsthefollowingconditions,financialassetsandfinancialliabilitiesshallbeoffsetandthenetamountpresentedinthestatementoffinancialposition:
TheCompanycurrentlyhasalegallyenforceablerighttosetofftherecognizedamounts;TheCompanyintendseithertosettleonanetbasis,ortorealisetheassetandsettletheliabilitysimultaneously.Inaccountingforatransferofafinancialassetthatdoesnotqualifyforderecognition,theCompanyshallnotoffsetthetransferredassetandtheassociatedliability.(h)Determinationoffairvalueoffinancialinstruments
DeterminationoffinancialassetsandfinancialliabilitiespleaserefertoNote3.11
3.11FairValueMeasurementFairvaluereferstothepricethatwouldbereceivedtosellanassetorpaidtotransferaliabilityinanorderlytransactionbetweenmarketparticipantsatthemeasurementdate.TheCompanydeterminesfairvalueoftherelatedassetsandliabilitiesbasedonmarketvalueintheprincipalmarket,orintheabsenceofaprincipalmarket,inthemostadvantageousmarketpricefortherelatedassetorliability.Thefairvalueofanassetoraliabilityismeasuredusingtheassumptionsthatmarketparticipantswouldusewhenpricingtheassetorliability,assumingthatmarketparticipantsactintheireconomicbestinterest.Theprincipalmarketisthemarketinwhichtransactionsforanassetorliabilitytakeplacewiththegreatestvolumeandfrequency.Themostadvantageousmarketisthemarketwhichmaximizesthevaluethatcouldbereceivedfromsellingtheassetandminimizesthevaluewhichisneededtobepaidinordertotransferaliability,consideringtheeffectoftransportcostsandtransactioncostsboth.Iftheactivemarketofthefinancialassetorfinancialliabilityexists,theCompanyshallmeasurethefairvalueusingthequotedpriceintheactivemarket.Iftheactivemarketofthefinancialinstrumentisnotavailable,theCompanyshallmeasurethefairvalueusing
valuationtechniques.Afairvaluemeasurementofanon-financialassettakesintoaccountamarketparticipant’sabilitytogenerateeconomicbenefitsbyusingtheassetinitshighestandbestuseorbysellingittoanothermarketparticipantthatwouldusetheassetinitshighestandbestuse.
?ValuationtechniquesTheCompanyusesvaluationtechniquesthatareappropriateinthecircumstancesandforwhichsufficientdataareavailabletomeasurefairvalue,includingthemarketapproach,theincomeapproachandthecostapproach.TheCompanyshallusevaluationtechniquesconsistentwithoneormoreofthoseapproachestomeasurefairvalue.Ifmultiplevaluationtechniquesareusedtomeasurefairvalue,theresultsshallbeevaluatedconsideringthereasonablenessoftherangeofvaluesindicatedbythoseresults.Afairvaluemeasurementisthepointwithinthatrangethatismostrepresentativeoffairvalueinthecircumstances.Whenusingthevaluationtechnique,theCompanyshallgivetheprioritytorelevantobservableinputs.Theunobservableinputscanonlybeusedwhenrelevantobservableinputsisnotavailableorpracticallywouldnotbeobtained.Observableinputsrefertotheinformationwhichisavailablefrommarketandreflectstheassumptionsthatmarketparticipantswouldusewhenpricingtheassetorliability.UnobservableInputsrefertotheinformationwhichisnotavailablefrommarketandithastobedevelopedusingthebestinformationavailableinthecircumstancesfromtheassumptionsthatmarketparticipantswouldusewhenpricingtheassetorliability.
?FairvaluehierarchyToCompanyestablishesafairvaluehierarchythatcategorisesintothreelevelstheinputstovaluationtechniquesusedtomeasurefairvalue.ThefairvaluehierarchygivesthehighestprioritytoLevel1inputsandsecondtotheLevel2inputsandthelowestprioritytoLevel3inputs.Level1inputsarequotedprices(unadjusted)inactivemarketsforidenticalassetsorliabilitiesthattheentitycanaccessatthemeasurementdate.Level2inputsareinputsotherthanquotedpricesincludedwithinLevel1thatareobservablefortheassetorliability,eitherdirectlyorindirectly.Level3inputsareunobservableinputsfortheassetorliability.
3.12Inventories
(a)Classificationofinventories
Investmentpropertyincludeslanduserightofrent-outpropertyandofpropertyheldforcapital
appreciationandbuildingsthathavebeenleasedout.
(b)Measurementmethodofcostofinventoriessoldorused
Thecostofinventoriesusedorsoldisdeterminedonthefirstin-firstout,orindividualvaluationmethodbasis.(c)InventorysystemTheperpetualinventorysystemisadopted.Theinventoriesshouldbecountedatleastonceayear,andsurplusorlossesofinventorystocktakingshallbeincludedincurrentprofitandloss.(d)ProvisionforimpairmentofinventoryInventoriesarestatedatthelowerofcostandnetrealizablevalue.Theexcessofcostovernetrealizablevalueoftheinventoriesisrecognizedasprovisionforimpairmentofinventory,andrecognizedincurrentprofitorloss.Netrealizablevalueoftheinventoryshouldbedeterminedonthebasisofreliableevidenceobtained,andfactorssuchaspurposeofholdingtheinventoryandimpactofpostbalancesheeteventshallbeconsidered.(i)Innormaloperationprocess,finishedgoods,productsandmaterialsfordirectsale,theirnetrealizablevaluesaredeterminedatestimatedsellingpriceslessestimatedsellingexpensesandrelevanttaxesandsurcharges;forinventoriesheldtoexecutesalescontractorservicecontract,theirnetrealizablevaluesarecalculatedonthebasisofcontractprice.IfthequantitiesofinventoriesspecifiedinsalescontractsarelessthanthequantitiesheldbytheCompany,thenetrealizablevalueoftheexcessportionofinventoriesshallbebasedongeneralsellingprices.Netrealizablevalueofmaterialsheldforsaleshallbemeasuredbasedonmarketprice.(ii)Formaterialsinstockneedtobeprocessed,intheordinarycourseofproductionandbusiness,netrealisablevalueisdeterminedattheestimatedsellingpricelesstheestimatedcostsofcompletion,theestimatedsellingexpensesandrelevanttaxes.Ifthenetrealisablevalueofthefinishedproductsproducedbysuchmaterialsishigherthanthecost,thematerialsshallbemeasuredatcost;ifadeclineinthepriceofmaterialsindicatesthatthecostofthefinishedproductsexceedsitsnetrealisablevalue,thematerialsaremeasuredatnetrealisablevalueanddifferencesshallberecognizedattheprovisionforimpairment.(iii)Provisionsforinventoryimpairmentaregenerallydeterminedonanindividualbasis.Forinventorieswithlargequantityandlowunitprice,theprovisionsforinventoryimpairmentaredeterminedonacategorybasis.(iv)Ifanyfactorrenderingwrite-downsoftheinventorieshasbeeneliminatedatthereportingdate,theamountswrittendownarerecoveredandreversedtotheextentoftheinventoryimpairment,whichhasbeenprovidedfor.Thereversalshallbeincludedin
profitorloss.
3.13ContractassetsandContractliabilitiesEffectiveat1stJanuary2020TheCompanypresentscontractassetsorcontractliabilitiesinthebalancesheetbasedontherelationshipbetweenitsperformanceobligationsandcustomers’payments.Contractassetsandcontractliabilitiesunderthesamecontractshalloffseteachotherandbepresentedonanetbasis.TheCompanypresentsanunconditionalrighttoconsideration(i.e.,onlythepassageoftimeisrequiredbeforetheconsiderationisdue)asareceivable,andpresentsarighttoconsiderationinexchangeforgoodsthatithastransferredtoacustomer(whichisconditionalonsomethingotherthanthepassageoftime)asacontractasset.FortheCompany'sdeterminationmethodandaccountingtreatmentmethodfortheexpectedcreditlossofcontractassets,pleaserefertoNote3.10FinancialInstrumentsfordetails.TheCompanypresentsanobligationtotransfergoodstoacustomerforwhichtheCompanyhasreceivedconsideration(ortheamountisdue)fromthecustomerasacontractliability.
3.14ContractcostsEffectiveat1stJanuary2020Assetsrelatedtocontractcostsincludingcostsofobtainingacontractandcoststofulfilacontract.TheCompanyrecognizesasanassettheincrementalcostsofobtainingacontractifthosecostsareexpectedtoberecovered.Thecostsofobtainingacontractshallbeincludedintoprofitorlosswhenincurrediftheamortizationperiodoftheassetisoneyearorless.Ifthecostsincurredinfulfillingacontractarenotwithinthescopeofstandardsrelatedtoinventories,fixedassetsorintangibleassets,etc.,theCompanyshallrecognizethecoststofulfilacontractasanassetifallthefollowingcriteriaaresatisfied:
(i)Thecostsrelatedirectlytoacontractortoananticipatedcontract,includingdirectlabor,directmaterials,manufacturingoverheadcost(orsimilarcost),costthatareexplicitlychargeabletothecustomerunderthecontract,andothercoststhatareonlyrelatedtothecontract;(ii)ThecostsenhanceresourcesoftheCompanythatwillbeusedinsatisfyingperformanceobligationsinthefuture;
(iii)Thecostsareexpectedtoberecovered.Iftheincrementalcostincurredbythecompanytoobtainthecontractisexpectedtoberecovered,itshallberecognizedasanassetasthecontractacquisitioncost.
Theassetsrelatedtothecontractcostshallbeamortizedonthesamebasisastheincomefromgoodsorservicesrelatedtotheassets;however,iftheamortizationperiodofthecontractacquisitioncostislessthanoneyear,thecompanyshallincludeitinthecurrentprofitandlosswhenitoccurs.Ifthebookvalueoftheassetsrelatedtothecontractcostishigherthanthedifferencebetweenthefollowingtwoitems,thecompanywillmakeprovisionforimpairmentfortheexcesspartandrecognizeitasthelossofassetimpairment,andfurtherconsiderwhethertheestimatedliabilitiesrelatedtothelosscontractshouldbemade:
(i)Theresidualconsiderationexpectedtobeobtainedduetothetransferofgoodsorservicesrelatedtotheasset;
(ii)Theestimatedcosttobeincurredforthetransferoftherelevantgoodsorservices.
Iftheaboveprovisionforimpairmentofassetsissubsequentlyreversed,thebookvalueoftheassetafterreversalshallnotexceedthebookvalueoftheassetonthereversaldatewithoutprovisionforimpairment.
Thecontractperformancecostrecognizedasanassetwithanamortizationperiodofnomorethanoneyearoronenormalbusinesscycleatthetimeofinitialrecognitionshallbelistedinthe"inventory"item,andtheamortizationperiodofnomorethanoneyearoronenormalbusinesscycleatthetimeofinitialrecognitionshallbelistedinthe"othernon-currentassets"item.
Thecontractacquisitioncostrecognizedasanassetshallbelistedintheitemof"othercurrentassets"whentheamortizationperioddoesnotexceedoneyearoronenormalbusinesscycleatthetimeofinitialrecognition,andlistedintheitemof"othernoncurrentassets"whentheamortizationperiodexceedsoneyearoronenormalbusinesscycleatthetimeofinitialrecognition.
3.15Non-currentassetsordisposalgroupsasheldforsale(a)Classificationofnon-currentassets(ordisposalgroups)asheldforsaleTheCompanyclassifiesanon-currentasset(ordisposalgroup)asheldforsaleifthefollowingrequirementsaremetsimultaneously:
(i)Theassetordisposalgroupmustbeavailableforimmediatesaleinitspresentconditionsubjectonlytothetermsthatareusualandcustomaryforsalesofsuchassets(ordisposalgroups).(ii)Itssalemustbehighlyprobable,i.e,theCompanymustbecommittedtoaplantoselltheasset(ordisposalgroup)andobtaindefinitepurchasecommitment,andthesaleisexpectedtocompletewithinoneyear.IftherelevantregulationsrequiretheapprovalfromtherelevantpowerorganisationsorsupervisiondepartmentsoftheCompanybeforetheycanbesold,theapprovalhasbeenobtained.WhentheCompanyacquiresanon-currentasset(ordisposalgroup)exclusivelywithaviewtoitssubsequentdisposal,itshall
classifythenon-currentasset(ordisposalgroup)asheldforsaleattheacquisitiondateonlyiftheone-yearrequirementismetanditishighlyprobablethatanyothercriteriathatarenotmetatthatdatewillbemetwithinashortperiodfollowingtheacquisition(usuallywithinthreemonths).TheCompanythatiscommittedtodisposeitsequityinvestmentinasubsidiarywhichwillleadtoitslossofcontrolofthesubsidiaryshallclassifytheinvestmentasheldforsaleintheseparatefinancialstatementsoftheCompany,andclassifyalltheassetsandliabilitiesofthatsubsidiaryasheldforsaleintheconsolidatedfinancialstatementsofthegroup,whentheabovecriteriaaremet,regardlessofwhethertheCompanywillremainpartofequityinvestmentinthesubsidiary.(b)Measurementofnon-currentassets(ordisposalgroups)heldforsaleTheprincipalofmeasurementofnon-currentassets(ordisposalgroups)heldforsaledoesnotapplytothefollowingassets:
investmentpropertiesthataremeasuredinaccordancewiththefairvaluemodel,biologicalassetsthataremeasuredatfairvaluelesscoststosell,assetsarisingfromemployeebenefits,deferredtaxassets,financialassetswithinthescopeofrelevantaccountingstandardsrelatedtofinancialinstrumentsandcontractualrightsunderinsurancecontractsasdefinedinaccountingstandardsrelatedtoinsurancecontracts.Whenthenon-currentassets(ordisposalgroups)asheldforsaleareinitiallymeasuredorsubsequentlymeasuredatbalancesheetdate,ifthecarryingamountoftheasset(ordisposalgroup)ishigherthanthefairvaluelesscosttosell,itshallbewritten-downtoitsfairvaluelesscosttosell,andthedifferenceshallberecognizedasimpairmentlossintocurrentprofitorloss,andprovisionforassetimpairmentshallberecognizedsimultaneously.Atsubsequentreportingdate,ifthereisanyincreaseinfairvaluelesscoststosellofanon-currentasset(ordisposalgroup),theimpairmentlossrecognizedinpreviouslyshallbereversedtotheextentofimpairmentlossrecognizedaftertheassethasbeenclassifiedasheld-for-saleandincludedinprofitorloss.Animpairmentlossrecognizedforgoodwillshallnotbereversedinasubsequentperiod.Whentheassets(ordisposalgroups)ceasestobeclassifiedasheldforsaleorthenon-currentassetsareremovedfromdisposalgroupssincethecriteriaforheldforsalearenolongermet,theassetsshallbemeasuredatthelowerof:
(i)Itscarryingamountbeforetheasset(ordisposalgroup)wasclassifiedasheldforsale,adjustedforanydepreciation,amortizationorrevaluationsthatwouldhavebeenrecognizedhadtheasset(ordisposalgroup)notbeenclassifiedasheldforsale,and(ii)Itsrecoverableamount
(c)PresentationAnentityshallpresentanon-currentassetclassifiedasheldforsaleandtheassetsofadisposalgroupclassifiedasheldforsaleseparatelyfromotherassetsinthestatementoffinancialposition.Theliabilitiesofadisposalgroupclassifiedasheldforsaleshallbepresentedseparatelyfromotherliabilitiesinthestatementoffinancialposition.Thoseassetsandliabilitiesshallnotbeoffsetandpresentedasasingleamount.
3.16Long-termEquityInvestmentsLong-termequityinvestmentsrefertoequityinvestmentswhereaninvestorhascontrolof,orsignificantinfluenceover,aninvestee,aswellasequityinvestmentsinjointventures.AssociatesoftheCompanyarethoseentitiesoverwhichtheCompanyhassignificantinfluence.(a)DeterminationbasisofjointcontrolorsignificantinfluenceovertheinvesteeJointcontrolistherelevantagreedsharingofcontroloveranarrangement,andthearrangedrelevantactivitymustbedecidedunderunanimousconsentofthepartiessharingcontrol.InassessingwhethertheCompanyhasjointcontrolofanarrangement,theCompanyshallassessfirstwhetheralltheparties,oragroupoftheparties,controlthearrangement.Whenalltheparties,oragroupoftheparties,consideredcollectively,areabletodirecttheactivitiesofthearrangement,thepartiescontrolthearrangementcollectively.ThentheCompanyshallassesswhetherdecisionsabouttherelevantactivitiesrequiretheunanimousconsentofthepartiesthatcollectivelycontrolthearrangement.Iftwoormoregroupsofthepartiescouldcontrolthearrangementcollectively,itshallnotbeassessedashavejointcontrolofthearrangement.Whenassessingthejointcontrol,theprotectiverightsarenotconsidered.Significantinfluenceisthepowertoparticipateinthefinancialandoperatingpolicydecisionsoftheinvesteebutisnotcontrolorjointcontrolofthosepolicies.Indeterminationofsignificantinfluenceoveraninvestee,theCompanyshouldconsidernotonlytheexistingvotingrightsdirectlyorindirectlyheldbutalsotheeffectofpotentialvotingrightsheldbytheCompanyandotherentitiesthatcouldbecurrentlyexercisedorconverted,includingtheeffectofsharewarrants,shareoptionsandconvertiblecorporatebondsthatissuedbytheinvesteeandcouldbeconvertedincurrentperiod.IftheCompanyholds,directlyorindirectly20%ormorebutlessthan50%ofthevotingpoweroftheinvestee,itispresumedthattheCompanyhassignificantinfluenceoftheinvestee,unlessitcanbeclearlydemonstratedthatinsuchcircumstance,theCompanycannotparticipateinthedecision-makingintheproductionandoperatingoftheinvestee.
(b)Determinationofinitialinvestmentcost(i)Long-termequityinvestmentsgeneratedinbusinesscombinationsForabusinesscombinationinvolvingenterprisesundercommoncontrol,iftheCompanymakespaymentincash,transfersnon-cashassetsorbearsliabilitiesastheconsiderationforthebusinesscombination,theshareofcarryingamountoftheowners’equityoftheacquireeintheconsolidatedfinancialstatementsoftheultimatecontrollingpartyisrecognizedastheinitialcostofthelong-termequityinvestmentonthecombinationdate.Thedifferencebetweentheinitialinvestmentcostandthecarryingamountofcashpaid,non-cashassetstransferredandliabilitiesassumedshallbeadjustedagainstthecapitalreserve;ifcapitalreserveisnotenoughtobeoffset,undistributedprofitshallbeoffsetinturn.Forabusinesscombinationinvolvingenterprisesundercommoncontrol,iftheCompanyissuesequitysecuritiesastheconsiderationforthebusinesscombination,theshareofcarryingamountoftheowners’equityoftheacquireeintheconsolidatedfinancialstatementsoftheultimatecontrollingpartyisrecognizedastheinitialcostofthelong-termequityinvestmentonthecombinationdate.Thetotalparvalueofthesharesissuedisrecognizedasthesharecapital.Thedifferencebetweentheinitialinvestmentcostandthecarryingamountofthetotalparvalueofthesharesissuedshallbeadjustedagainstthecapitalreserve;ifcapitalreserveisnotenoughtobeoffset,undistributedprofitshallbeoffsetinturn.Forbusinesscombinationnotundercommoncontrol,theassetspaid,liabilitiesincurredorassumedandthefairvalueofequitysecuritiesissuedtoobtainthecontroloftheacquireeattheacquisitiondateshallbedeterminedasthecostofthebusinesscombinationandrecognizedastheinitialcostofthelong-termequityinvestment.Theaudit,legal,valuationandadvisoryfees,otherintermediaryfees,andotherrelevantgeneraladministrativecostsincurredforthebusinesscombination,shallberecognizedinprofitorlossasincurred.(ii)Long-termequityinvestmentsacquirednotthroughthebusinesscombination,theinvestmentcostshallbedeterminedbasedonthefollowingrequirements:
Forlong-termequityinvestmentsacquiredbypaymentsincash,theinitialcostistheactuallypaidpurchasecost,includingtheexpenses,taxesandothernecessaryexpendituresdirectlyrelatedtotheacquisitionoflong-termequityinvestments.Forlong-termequityinvestmentsacquiredthroughissuanceofequitysecurities,theinitialcostisthefairvalueoftheissuedequitysecurities.Forthelong-termequityinvestmentsobtainedthroughexchangeofnon-monetaryassets,iftheexchangehascommercialsubstance,andthefairvaluesofassetstradedoutandtradedincanbemeasuredreliably,theinitialcostoflong-termequityinvestmenttradedinwithnon-monetaryassetsaredeterminedbasedonthefairvaluesoftheassetstradedouttogetherwithrelevanttaxes.Differencebetweenfairvalueandbookvalueoftheassetstradedoutisrecordedincurrentprofitorloss.Iftheexchangeofnon-monetaryassets
doesnotmeettheabovecriterion,thebookvalueoftheassetstradedoutandrelevanttaxesarerecognizedastheinitialinvestmentcost.Forlong-termequityinvestmentacquiredthroughdebtrestructuring,thebookvalueisdeterminedbasedonthefairvalueofwaiveddebtsandthetaxesandothercostsdirectlyattributabletotheassets.Differencebetweenfairvalueandcarryingamountofwaiveddebtsshallberecordedincurrentprofitorloss.
(c)Subsequentmeasurementandrecognitionofprofitorloss
Long-termequityinvestmenttoanentityoverwhichtheCompanyhasabilityofcontrolshallbeaccountedforatcostmethod.Long-termequityinvestmenttoajointventureoranassociateshallbeaccountedforatequitymethod.(i)CostmethodForLong-termequityinvestmentatcostmethod,costofthelong-termequityinvestmentshallbeadjustedwhenadditionalamountisinvestedorapartofitiswithdrawn.TheCompanyrecognizesitsshareofcashdividendsorprofitswhichhavebeendeclaredtodistributebytheinvesteeascurrentinvestmentincome.(ii)EquitymethodIftheinitialcostoftheinvestmentisinexcessoftheshareofthefairvalueofthenetidentifiableassetsintheinvesteeatthedateofinvestment,thedifferenceshallnotbeadjustedtotheinitialcostoflong-termequityinvestment;iftheinitialcostoftheinvestmentisinshortoftheshareofthefairvalueofthenetidentifiableassetsintheinvesteeatthedateinvestment,thedifferenceshallbeincludedinthecurrentprofitorlossandtheinitialcostofthelong-termequityinvestmentshallbeadjustedaccordingly.TheCompanyrecognizestheshareoftheinvestee’snetprofitsorlosses,aswellasitsshareoftheinvestee’sothercomprehensiveincome,asinvestmentincomeorlossesandothercomprehensiveincomerespectively,andadjuststhecarryingamountoftheinvestmentaccordingly.Thecarryingamountoftheinvestmentshallbereducedbytheshareofanyprofitorcashdividendsdeclaredtodistributebytheinvestee.Theinvestor’sshareoftheinvestee’sowners’equitychanges,otherthanthosearisingfromtheinvestee’snetprofitorloss,othercomprehensiveincomeorprofitdistribution,shallberecognizedintheinvestor’sequity,andthecarryingamountofthelong-termequityinvestmentshallbeadjustedaccordingly.TheCompanyrecognizesitsshareoftheinvestee’snetprofitsorlossesaftermakingappropriateadjustmentsofinvestee’snetprofitbasedonthefairvaluesoftheinvestee’sidentifiablenetassetsattheinvestmentdate.IftheaccountingpolicyandaccountingperiodadoptedbytheinvesteeisnotinconsistencywiththeCompany,thefinancialstatementsoftheinvesteeshallbeadjustedaccordingtotheCompany’saccountingpoliciesandaccountingperiod,basedonwhich,investmentincomeorlossandothercomprehensiveincome,etc.,shallbeadjusted.Theunrealizedprofitsorlossesresultingfrominter-CompanytransactionsbetweentheCompanyanditsassociateorjointventureareeliminatedinproportiontotheCompany’sequityinterestintheinvestee,basedonwhichinvestmentincomeorlossesshallbe
recognized.Anylossesresultingfrominter-Companytransactionsbetweentheinvestorandtheinvestee,whichbelongtoassetimpairment,shallberecognizedinfull.WheretheCompanyobtainsthepowerofjointcontrolorsignificantinfluence,butnotcontrol,overtheinvestee,duetoadditionalinvestmentorotherreason,therelevantlong-termequityinvestmentshallbeaccountedforbyusingtheequitymethod,initialcostofwhichshallbethefairvalueoftheoriginalinvestmentplustheadditionalinvestment.Wheretheoriginalinvestmentisclassifiedasavailable-forsaleinvestment,differencebetweenitsfairvalueandthecarryingvalue,inadditiontothecumulativechangesinfairvaluepreviouslyrecordedinothercomprehensiveincome,shallberecogisedintocurrentprofitorlossusingequitymethod.IftheCompanylosesthejointcontrolorsignificantinfluenceoftheinvesteeforsomereasonssuchasdisposalofequityinvestment,theretainedinterestshallbemeasuredatfairvalueandthedifferencebetweenthecarryingamountandthefairvalueatthedateoflossthejointcontrolorsignificantinfluenceshallberecognizedinprofitorloss.WhentheCompanydiscontinuestheuseoftheequitymethod,theCompanyshallaccountforallamountspreviouslyrecognizedinothercomprehensiveincomeunderequitymethodinrelationtothatinvestmentonthesamebasisaswouldhavebeenrequirediftheinvesteehaddirectlydisposedoftherelatedassetsorliabilities.
(d)Equityinvestmentclassifiedasheldforsale
Foranequityinvestment,oraportionofanequityinvestment,inanassociateorajointventureisclassifiedasheldforsale,therelevantaccountingtreatmentpleaserefertoNote3.14.Anyretainedinterestintheequityinvestmentnotclassifiedasheldforsale,shallbeaccountedforusingequitymethod.Whenanequityinvestmentinanassociateorajointventurepreviouslyclassifiedasheldforsalenolongermeetsthecriteriatobesoclassified,itshallbeaccountedforusingtheequitymethodretrospectivelyasfromthedateofitsclassificationasheldforsale.Financialstatementsfortheperiodssinceclassificationasheldforsaleshallbeamendedaccordingly.(e)ImpairmenttestingandprovisionforimpairmentlossForinvestmentinsubsidiaries,associatesorajointventures,provisionforimpairmentlosspleaserefertoNote3.22.
3.17InvestmentProperties(a)Classificationofinvestmentproperties
Investmentpropertiesarepropertiestoearnrentalsorforcapitalappreciationorboth,including:
(i)Landuserightleasedout
(ii)Landheldfortransferuponappreciation(iii)Buildingsleasedout
(b)ThemeasurementmodelofinvestmentpropertyTheCompanyadoptsthecostmodelforsubsequentmeasurementofinvestmentproperties.ForprovisionforimpairmentpleaserefertoNote3.23.TheCompanycalculatesthedepreciationoramortizationbasedonthenetamountofinvestmentpropertycostlesstheaccumulatedimpairmentandthenetresidualvalueusingstraight-linemethod.Theestimatedusefullifeandannualdepreciationrateswhicharedeterminedaccordingtothecategories,estimatedeconomicusefullivesandestimatednetresidualratesarelistedasfollowings:
| Category | Estimatedusefullife(year) | Residualrates(%) | Annualdepreciationrates(%) |
| Buildingsandconstructions | 35-40 | 3 | 2.77-2.43 |
| Landuseright | 50 | — | 2.00 |
3.18FixedAssetsFixedassetsrefertothetangibleassetswithhigherunitpriceheldforthepurposeofproducingcommodities,renderingservices,rentingorbusinessmanagementwithusefullivesexceedingoneyear.(a)Recognitioncriteriaoffixedassets
Fixedassetswillonlyberecognizedattheactualcostpaidwhenobtainingasallthefollowingcriteriaaresatisfied:
(i)ItisprobablethattheeconomicbenefitsrelatingtothefixedassetswillflowintotheCompany;(ii)Thecostsofthefixedassetscanbemeasuredreliably.Subsequentexpenditureforfixedassetsshallberecordedincostoffixedassets,ifrecognitioncriteriaoffixedassetsaresatisfied,otherwisetheexpenditureshallberecordedincurrentprofitorlosswhenincurred.
(b)Depreciationmethodsoffixedassets
TheCompanybeginstodepreciatethefixedassetfromthenextmonthafteritisavailableforintendeduseusingthestraight-line-method.Theestimatedusefullifeandannualdepreciationrateswhicharedeterminedaccordingtothecategories,estimatedeconomicusefullivesandestimatednetresidualratesoffixedassetsarelistedasfollowings:
| Categories | Depreciationmethod | Usefullife(years) | Estimatedresidualvalueproportion(%) | Annualdepreciationrate(%) |
| Buildingsandstructures | Straight-linemethod | 10,35-40 | 0、3 | 2.43-2.77,10.00 |
| Decorationfeesforself-ownedhouses | Straight-linemethod | 10 | 0 | 10.00 |
| Machinery | Straight-linemethod | 12 | 3 | 8.08 |
| Transportfacilities | Straight-linemethod | 7 | 3 | 13.86 |
| Electronicequipment | Straight-linemethod | 5-7 | 3 | 13.86-19.40 |
| Officeandotherequipment | Straight-linemethod | 7 | 3 | 13.86 |
Forthefixedassetswithimpairmentprovided,theimpairmentprovisionshouldbeexcludedfromthecostwhencalculatingdepreciation.Attheendofreportingperiod,theCompanyshallreviewtheusefullife,estimatednetresidualvalueanddepreciationmethodofthefixedassets.Estimatedusefullifeofthefixedassetsshallbeadjustedifitischangedcomparedtotheoriginalestimation.
(c)Recognitioncriteria,valuationanddepreciationmethodsoffixedassetsobtainedthroughafinanceleaseIftheentireriskandrewardsrelatedtotheleasedassetshavebeensubstantiallytransferred,theCompanyshallrecognizetheleaseasafinancelease.Thecostofthefixedassetsobtainedthroughafinanceleaseisdeterminedatthelowerofthefairvalueoftheleasedassetsandthepresentvalueoftheminimumleasepaymentonthedateofthelease.Thefixedassetsobtainedbyafinanceleasearedepreciatedinthemethodwhichisconsistentwiththeself-ownedfixedassetsoftheCompany.Forfixedassetsobtainedthroughafinancelease,ifitisreasonablycertainthattheownershipofthe
leasedassetswillbetransferredtothelesseebytheendoftheleaseterm,theyshallbedepreciatedovertheirremainingusefullives;otherwise,theleasedassetsshallbedepreciatedovertheshorteroftheleasetermsortheirremainingusefullives.
3.19ConstructioninProgress(a)Classificationofconstructioninprogress
Constructioninprogressismeasuredonanindividualprojectbasis.(b)RecognitioncriteriaandtimingoftransferfromconstructioninprogresstofixedassetsTheinitialbookvaluesofthefixedassetsarestatedattotalexpendituresincurredbeforetheyarereadyfortheirintendeduse,includingconstructioncosts,originalpriceofmachineryequipment,othernecessaryexpensesincurredtobringtheconstructioninprogresstogetreadyforitsintendeduseandborrowingcostsofthespecificloanfortheconstructionortheproportionofthegeneralloanusedfortheconstructionsincurredbeforetheyarereadyfortheirintendeduse.Theconstructioninprogressshallbetransferredtofixedassetwhentheinstallationorconstructionisreadyfortheintendeduse.Forconstructioninprogressthathasbeenreadyfortheirintendedusebutrelevantbudgetsforthecompletionofprojectshavenotbeencompleted,theestimatedvaluesofprojectbudgets,prices,oractualcostsshouldbeincludedinthecostsofrelevantfixedassets,anddepreciationshouldbeprovidedaccordingtorelevantpoliciesoftheCompanywhenthefixedassetsarereadyforintendeduse.Afterthecompletionofbudgetsneededforthecompletionofprojects,theestimatedvaluesshouldbesubstitutedbyactualcosts,butdepreciationalreadyprovidedisnotadjusted.
3.20BorrowingCosts
(a)RecognitioncriteriaandperiodforcapitalizationofborrowingcostsTheCompanyshallcapitalizetheborrowingcoststhataredirectlyattributabletotheacquisition,constructionorproductionofqualifyingassetswhenmeetthefollowingconditions:
(i)Expendituresfortheassetarebeingincurred;(ii)Borrowingcostsarebeingincurred,and;(iii)Acquisition,constructionorproductionactivitiesthatarenecessarytopreparetheassetsfortheirintendeduseorsaleareinprogress.Otherborrowingcost,discountsorpremiumsonborrowingsandexchangedifferencesonforeigncurrencyborrowingsshallberecognizedintocurrentprofitorlosswhenincurred.Capitalizationofborrowingcostsissuspendedduringperiodsinwhichtheacquisition,constructionorproductionofaqualifyingassetisinterruptedabnormallyandtheinterruptionisforacontinuousperiodofmorethan3months.Capitalizationofsuchborrowingcostsceaseswhenthequalifyingassetsbeingacquired,constructedorproducedbecomereadyfortheirintendeduseorsale.Theexpenditureincurredsubsequentlyshallberecognizedasexpenseswhenincurred.(b)CapitalizationrateandmeasurementofcapitalizedamountsofborrowingcostsWhenfundsareborrowedspecificallyforpurchase,constructionormanufacturingofassetseligibleforcapitalization,theCompanyshalldeterminetheamountofborrowingcostseligibleforcapitalisationastheactualborrowingcostsincurredonthatborrowingduringtheperiodlessanyinterestincomeonbankdepositorinvestmentincomeonthetemporaryinvestmentofthoseborrowings.Wherefundsallocatedforpurchase,constructionormanufacturingofassetseligibleforcapitalizationarepartofageneralborrowing,theeligibleamountsaredeterminedbytheweighted-averageofthecumulativecapitalexpendituresinexcessofthespecificborrowingmultipliedbythegeneralborrowingcapitalizationrate.Thecapitalizationratewillbetheweightedaverageoftheborrowingcostsapplicabletothegeneralborrowing.
3.21IntangibleAssets
(a)Measurementmethodofintangibleassets
Intangibleassetsarerecognizedatactualcostatacquisition.
(b)Theusefullifeandamortizationofintangibleassets
(i)Theestimatedusefullivesoftheintangibleassetswithfiniteusefullivesareasfollows:
| Category | Estimatedusefullife | Basis |
| Landuseright | 50years | Legallife |
| Software | 5years | TheservicelifeisdeterminedbyreferencetotheperiodthatcanbringeconomicbenefitstotheCompany |
| Royalties | 10years | TheservicelifeisdeterminedbyreferencetotheperiodthatcanbringeconomicbenefitstotheCompany |
Forintangibleassetswithfiniteusefullife,theestimatedusefullifeandamortizationmethodarereviewedannuallyattheendofeachreportingperiodandadjustedwhennecessary.Nochangeincursincurrentyearintheestimatedusefullifeandamortizationmethoduponreview.(ii)AssetsofwhichtheperiodtobringeconomicbenefitstotheCompanyareunforeseeableareregardedasintangibleassetswithindefiniteusefullives.TheCompanyreassessestheusefullivesofthoseassetsateveryyearend.Iftheusefullivesofthoseassetsarestillindefinite,impairmenttestshouldbeperformedonthoseassetsatthebalancesheetdate.(iii)AmortizationoftheintangibleassetsForintangibleassetswithfiniteusefullives,theirusefullivesshouldbedeterminedupontheiracquisitionandsystematicallyamortizedonastraight-linebasis[unitsofproductionmethod]overtheusefullife.Theamortizationamountshallberecognizedintocurrentprofitorlossaccordingtothebeneficialitems.Theamounttobeamortizediscostdeductingresidualvalue.Forintangibleassetswhichhasimpaired,thecumulativeimpairmentprovisionshallbedeductedaswell.Theresidualvalueofanintangibleassetwithafiniteusefullifeshallbeassumedtobezerounless:thereisacommitmentbyathirdpartytopurchasetheassetattheendofitsusefullife;orthereisanactivemarketfortheassetandresidualvaluecanbedeterminedbyreferencetothatmarket;anditisprobablethatsuchamarketwillexistattheendoftheasset’susefullife.Intangibleassetswithindefiniteusefullivesshallnotbeamortized.TheCompanyreassessesthe
usefullivesofthoseassetsateveryyearend.Ifthereisevidencetoindicatethattheusefullivesofthoseassetsbecomefinite,theusefullivesshallbeestimatedandtheintangibleassetsshallbeamortizedsystematicallyandreasonablywithintheestimatedusefullives.
3.22ImpairmentofLong-TermAssetsImpairmentlossoflong-termequityinvestmentinsubsidiaries,associatesandjointventures,investmentproperties,fixedassetsandconstructionsinprogresssubsequentlymeasuredatcost,productivebiologicalassets,intangibleassets,goodwill,therightsandinterestsofprovedminingareasofpetroleumandnaturalgasandwellsandotherrelevantfacilitiesmeasuredatcost(excludinginventories,investmentpropertiesmeasuredatfairvalue,deferredtaxassets,financialassets),shallbedeterminedaccordingtofollowingmethod:
TheCompanyshallassessattheendofeachreportingperiodwhetherthereisanyindicationthatanassetmaybeimpaired.Ifanysuchindicationexists,theCompanyshallestimatetherecoverableamountoftheassetandtestforimpairment.Irrespectiveofwhetherthereisanyindicationofimpairment,theCompanyshalltestforimpairmentofgoodwillacquiredinabusinesscombination,intangibleassetswithanindefiniteusefullifeorintangibleassetsnotyetavailableforuseannually.Therecoverableamountsofthelong-termassetsarethehigheroftheirfairvalueslesscoststodisposeandthepresentvaluesoftheestimatedfuturecashflowsofthelong-termassets.TheCompanyestimatetherecoverableamountsonanindividualbasis.Ifitisdifficulttoestimatetherecoverableamountoftheindividualasset,theCompanyestimatestherecoverableamountofthegroupsofassetsthattheindividualassetbelongsto.Identificationofangroupofassetisbasedonwhetherthecashinflowsfromitarelargelyindependentofthecashinflowsfromotherassetsorgroupsofassets.If,andonlyif,therecoverableamountofanassetoragroupofassetsislessthanitscarryingamount,thecarryingamountoftheassetshallbereducedtoitsrecoverableamountandtheprovisionforimpairmentlossshallberecognizedaccordingly.Forthepurposeofimpairmenttesting,goodwillacquiredinabusinesscombinationshall,fromtheacquisitiondate,beallocatedtorelevantgroupofassetsbasedonreasonablemethod;ifitisdifficulttoallocatetorelevantgroupofassets,goodwillshallbeallocatedtorelevantcombinationofassetgroups.TherelevantgroupofassetsorcombinationofassetgroupsisagroupofassetsorcombinationofassetgroupsthatisbenefitfromthesynergiesofthebusinesscombinationandisnotlargerthanthereportingsegmentdeterminedbytheCompany.Whentestforimpairment,ifthereisanindicationthatrelevantgroupofassetsorcombinationofassetgroupsmaybeimpaired,impairmenttestingforgroupofassetsorcombinationofassetgroupsexcludinggoodwillshallbeconductedfirst,andcalculatetherecoverableamountandrecognizethe
impairmentloss.Thenthegroupofassetsorcombinationofassetgroupsincludinggoodwillshallbetestedforimpairment,bycomparingthecarryingamountwithitsrecoverableamount.Iftherecoverableamountislessthanthecarryingamount,theCompanyshallrecognizetheimpairmentloss.Thementionedimpairmentlosswillnotbereversedinsubsequentaccountingperiodonceithadbeenrecognized.
3.23Long-termDeferredExpenses
Long-termdeferredexpensesarevariousexpensesalreadyincurred,whichshallbeamortizedovercurrentandsubsequentperiodswiththeamortizationperiodexceedingoneyear.Long-termdeferredexpensesareevenlyamortizedwithinitsbeneficiaryperiodorstipulatedperiod.
3.24EmployeeBenefitsEmployeebenefitsrefertoallformsofconsiderationorcompensationgivenbytheCompanyinexchangeforservicerenderedbyemployeesorfortheterminationofemploymentrelationship.Employeebenefitsincludeshort-termemployeebenefits,post-employmentbenefits,terminationbenefitsandotherlong-termemployeebenefits.Benefitsprovidedtoanemployee'sspouse,children,dependents,familymembersofdecreasedemployees,orotherbeneficiariesarealsoemployeebenefits.Accordingtoliquidity,employeebenefitsarepresentedinthestatementoffinancialpositionas“Employeebenefitspayable”and“Long-termemployeebenefitspayable”.
(a)Short-termemployeebenefits
(i)Employeebasicsalary(salary,bonus,allowance,subsidy)TheCompanyrecognizes,intheaccountingperiodinwhichanemployeeprovidesservice,actuallyoccurredshort-termemployeebenefitsasaliability,withacorrespondingchargetocurrentprofitexceptforthoserecognizedascapitalexpenditurebasedontherequirementofaccountingstandards.(ii)EmployeewelfareTheCompanyshallrecognizetheemployeewelfarebasedonactualamountwhenincurredintocurrentprofitorlossorrelatedcapitalexpenditure.Employeewelfareshallbemeasuredatfairvalueasitisanon-monetarybenefits.(iii)Socialinsurancesuchasmedicalinsurance,workinjuryinsuranceandmaternityinsurance,housingfunds,laborunionfundand
employeeeducationfundPaymentsmadebytheCompanyofsocialinsuranceforemployees,suchasmedicalinsurance,workinjuryinsuranceandmaternityinsurance,paymentsofhousingfunds,andlaborunionfundandemployeeeducationfundaccruedinaccordancewithrelevantrequirements,intheaccountingperiodinwhichemployeesprovideservices,iscalculatedaccordingtorequiredaccrualbasesandaccrualratioindeterminingtheamountofemployeebenefitsandtherelatedliabilities,whichshallberecognizedincurrentprofitorlossorthecostofrelevantasset.(iv)Short-termpaidabsencesTheCompanyshallrecognizetherelatedemployeebenefitsarisingfromaccumulatingpaidabsenceswhentheemployeesrenderservicethatincreasestheirentitlementtofuturepaidabsences.Theadditionalpayableamountsshallbemeasuredattheexpectedadditionalpaymentsasaresultoftheunusedentitlementthathasaccumulated.TheCompanyshallrecognizerelevantemployeebenefitofnon-accumulatingpaidabsenceswhentheabsencesactuallyoccurred.(v)Short-termprofit-sharingplanTheCompanyshallrecognizetherelatedemployeebenefitspayableunderaprofit-sharingplanwhenallofthefollowingconditionsaresatisfied:
(i)TheCompanyhasapresentlegalorconstructiveobligationtomakesuchpaymentsasaresultofpastevents;and(ii)Areliableestimateoftheamountsofemployeebenefitsobligationarisingfromtheprofit-sharingplancanbemade.
(b)Post-employmentbenefits(i)DefinedcontributionplansTheCompanyshallrecognize,intheaccountingperiodinwhichanemployeeprovidesservice,thecontributionpayabletoadefinedcontributionplanasaliability,withacorrespondingchargetothecurrentprofitorlossorthecostofarelevantasset.Whencontributionstoadefinedcontributionplanarenotexpectedtobesettledwhollybeforetwelvemonthsaftertheendoftheannualreportingperiodinwhichtheemployeesrendertherelatedservice,theyshallbediscountedusingrelevantdiscountrate(marketyieldsattheendofthereportingperiodonhighqualitycorporatebondsinactivemarketorgovernmentbondswiththecurrencyandtermwhichshallbeconsistentwiththecurrencyandestimatedtermofthedefinedcontributionobligations)tomeasureemployeebenefitspayable.(ii)Definedbenefitplan
A.ThepresentvalueofdefinedbenefitobligationandcurrentservicecostsBasedontheexpectedaccumulativewelfareunitmethod,theCompanyshallmakeestimatesaboutdemographicvariablesandfinancialvariablesinadoptingtheunbiasedandconsistentactuarialassumptionsandmeasuredefinedbenefitobligation,anddeterminetheobligationperiod.TheCompanyshalldiscounttheobligationarisingfromdefinedbenefitplanusingrelevantdiscountrate(marketyieldsattheendofthereportingperiodonhighqualitycorporatebondsinactivemarketorgovernmentbondswiththecurrencyandtermwhichshallbeconsistentwiththecurrencyandestimatedtermofthedefinedbenefitobligations)inordertodeterminethepresentvalueofthedefinedbenefitobligationandthecurrentservicecost.B.ThenetdefinedbenefitliabilityorassetThenetdefinedbenefitliability(asset)isthedeficitorsurplusrecognizedasthepresentvalueofthedefinedbenefitobligationlessthefairvalueofplanassets(ifany).WhentheCompanyhasasurplusinadefinedbenefitplan,itshallmeasurethenetdefinedbenefitassetatthelowerofthesurplusinthedefinedbenefitplanandtheassetceiling.C.TheamountrecognizedinthecostofassetorcurrentprofitorlossServicecostcomprisescurrentservicecost,pastservicecostandanygainorlossonsettlement.Otherservicecostshallberecognizedinprofitorlossunlessaccountingstandardsrequireorallowtheinclusionofcurrentservicecostwithinthecostofassets.Netinterestonthenetdefinedbenefitliability(asset)comprisinginterestincomeonplanassets,interestcostonthedefinedbenefitobligationandinterestontheeffectoftheassetceiling,shallbeincludedinprofitorloss.D.TheamountrecognizedinothercomprehensiveincomeChangesinthenetliabilityorassetofthedefinedbenefitplanresultingfromtheremeasurementsincluding:
?Actuarialgainsandlosses,thechangesinthepresentvalueofthedefinedbenefitobligationresultingfromexperienceadjustmentsortheeffectsofchangesinactuarialassumptions;?Returnonplanassets,excludingamountsincludedinnetinterestonthenetdefinedbenefitliabilityorasset;?Anychangeintheeffectoftheassetceiling,excludingamountsincludedinnetinterestonthenetdefinedbenefitliability(asset).Remeasurementsofthenetdefinedbenefitliability(asset)recognizedinothercomprehensiveincomeshallnotbereclassifiedtoprofitorlossinasubsequentperiod.However,theCompanymaytransferthoseamountsrecognizedinothercomprehensiveincomewithinequity.
(c)TerminationbenefitsTheCompanyprovidingterminationbenefitstoemployeesshallrecognizeanemployeebenefitsliabilityforterminationbenefits,withacorrespondingchargetotheprofitorlossofthereportingperiod,attheearlierofthefollowingdates:
(i)WhentheCompanycannotunilaterallywithdrawtheofferofterminationbenefitsbecauseofanemploymentterminationplanoracurtailmentproposal.(ii)WhentheCompanyrecognizescostsorexpensesrelatedtoarestructuringthatinvolvesthepaymentofterminationbenefits.Iftheterminationbenefitsarenotexpectedtobesettledwhollybeforetwelvemonthsaftertheendoftheannualreportingperiod,theCompanyshalldiscounttheterminationbenefitsusingrelevantdiscountrate(marketyieldsattheendofthereportingperiodonhighqualitycorporatebondsinactivemarketorgovernmentbondswiththecurrencyandtermwhichshallbeconsistentwiththecurrencyandestimatedtermofthedefinedbenefitobligations)tomeasuretheemployeebenefits.(d)Otherlong-termemployeebenefits(i)MeettheconditionsofthedefinedcontributionplanWhenotherlong-termemployeebenefitsprovidedbytheCompanytotheemployeessatisfiestheconditionsforclassifyingasadefinedcontributionplan,allthosebenefitspayableshallbeaccountedforasemployeebenefitspayableattheirdiscountedvalue.(ii)MeettheconditionsofthedefinedbenefitplanAttheendofthereportingperiod,theCompanyrecognizedthecostofemployeebenefitfromotherlong-termemployeebenefitsasthefollowingcomponents:
?Servicecosts;?Netinterestcostfornetliabilityorassetofotherlong-termemployeebenefits?Changesresultingfromtheremeasurementsofthenetliabilityorassetofotherlong-termemployeebenefitsInordertosimplifytheaccountingtreatment,thenetamountofaboveitemsshallberecognizedinprofitorlossorrelevantcostofassets.
3.25EstimatedLiabilities
(a)RecognitioncriteriaofestimatedliabilitiesTheCompanyrecognizestheestimatedliabilitieswhenobligationsrelatedtocontingenciessatisfyallthefollowingconditions:
(i)ThatobligationisacurrentobligationoftheCompany;(ii)ItislikelytocauseanyeconomicbenefittoflowoutoftheCompanyasaresultofperformanceoftheobligation;and(iii)Theamountoftheobligationcanbemeasuredreliably.(b)Measurementmethodofestimatedliabilities
TheestimatedliabilitiesoftheCompanyareinitiallymeasuredatthebestestimateofexpensesrequiredfortheperformanceofrelevantpresentobligations.TheCompany,whendeterminingthebestestimate,hashadacomprehensiveconsiderationofriskswithrespecttocontingencies,uncertaintiesandthetimevalueofmoney.Thecarryingamountoftheestimatedliabilitiesshallbereviewedattheendofeveryreportingperiod.Ifconclusiveevidencesindicatethatthecarryingamountfailstobethebestestimateoftheestimatedliabilities,thecarryingamountshallbeadjustedbasedontheupdatedbestestimate.
3.26Revenue
Effectiveat1stJanuary2020
(a)Revenuerecognitionprinciples
Atcontractinception,theCompanyshallassessthecontractsandshallidentifyeachperformanceobligationinthecontracts,anddeterminewhethertheperformanceobligationshouldbesatisfiedovertimeoratapointintime.TheCompanysatisfiesaperformanceobligationovertimeifoneofthefollowingcriteriaismet,otherwise,theperformanceobligationissatisfiedatapointintime:
(1)thecustomersimultaneouslyreceivesandconsumestheeconomicbenefitsprovidedbytheCompany’sperformanceastheCompanyperforms;
(2)thecustomercancontrolgoodsastheyarecreatedbytheCompany’sperformance;
(3)goodscreatedduringtheCompany’sperformancehaveirreplaceableusesandtheCompanyhasanenforceablerighttoreceivethepaymentsforperformancecompletedtodateduringthewholecontractperiod.Foreachperformanceobligationsatisfiedovertime,theCompanyshallrecognizerevenueovertimebymeasuringtheprogresstowardscompletesatisfactionofthatperformanceobligation.Inthe
circumstancethattheprogresscannotbemeasuredreasonably,butthecostsincurredinsatisfyingtheperformanceobligationareexpectedtoberecovered,theCompanyshallrecognizerevenueonlytotheextentofthecostsincurreduntilitcanreasonablymeasuretheprogress.Foreachperformanceobligationsatisfiedatapointintime,theCompanyshallrecognizerevenueatthetimepointthattheclientobtainscontrolofrelevantgoodsorservices.Todeterminewhetherthecustomerhasobtainedcontrolofgoods,theCompanyshallconsiderthefollowingindications:
(1)theCompanyhasapresentrighttopaymentforthegoods,i.e.,thecustomerispresentlyobligedtopayforthegoods;
(2)theCompanyhastransferredthelegaltitleofthegoodstothecustomer,i.e.,thecustomerhaslegaltitletothegoods;
(3)theCompanyhastransferredphysicalpossessionofthegoodstotheclient,i.e.,thecustomerhasphysicallypossessedthegoods;
(4)theCompanyhastransferredsignificantrisksandrewardsofownershipofthegoodstotheclient,i.e.,thecustomerhasobtainedsignificantrisksandrewardsofownershipofthegoods;
(5)thecustomerhasacceptedthegoods;
(6)otherevidenceindicatingthecustomerhasobtainedcontroloverthegoods.SalesreturnclauseForthesaleswithreturnclauses,whenthecustomerobtainsthecontrolrightoftherelevantgoods,thecompanyshallrecognizetherevenueaccordingtotheamountofconsiderationitisentitledtoobtainduetothetransferofthegoodstothecustomer,andrecognizetheamountexpectedtobereturnedduetothesalesreturnastheestimatedliability;atthesametime,thecompanyshalldeducttheestimatedcostofrecoveringthegoodsaccordingtothebookvalueoftheexpectedreturnedgoodsatthetimeoftransfer.Thebalanceafterdeductingthevalueofthereturnedgoodsisrecognizedasanasset,thatis,thecostofreturnreceivable,whichiscarriedforwardbydeductingthenetcostoftheaboveassetsaccordingtothebookvalueofthetransferredgoodsatthetimeoftransfer.Oneachbalancesheetdate,theCompanyreestimatesthereturnoffuturesalesandremeasurestheaboveassetsandliabilities.WarrantyobligationsAccordingtothecontractandlegalprovisions,thecompanyprovidesqualityassuranceforthegoodssoldandtheprojectsconstructed.Fortheguaranteequalityassurancetoensurethatthegoods
soldmeettheestablishedstandards,thecompanyconductsaccountingtreatmentinaccordancewiththe“AccountingStandardsforBusinessEnterprisesNo.13–Contingencies”.Fortheservicequalityassurancewhichprovidesaseparateserviceinadditiontoguaranteeingthatthegoodssoldmeettheestablishedstandards,thecompanytakesitasasingleperformanceobligation,allocatespartofthetransactionpricetotheservicequalityassuranceaccordingtotherelativeproportionoftheseparatesellingpriceofthegoodsandservicequalityassurance,andrecognizestherevenuewhenthecustomerobtainstheservicecontrolright.Whenevaluatingwhetherthequalityassuranceprovidesaseparateserviceinadditiontoassuringcustomersthatthegoodssoldmeettheestablishedstandards,thecompanyconsiderswhetherthequalityassuranceisastatutoryrequirement,thequalityassuranceperiod,andthenatureofthecompany'scommitmenttoperformthetask.PrincipalresponsiblepersonandagentThecompanyhastherighttodeterminethepriceofthetradedgoodsafterobtainingthecontrolrightofthetradinggoodsfromthethirdpartyandthentransferringittothecustomer,thatis,thecompanycancontrolthegoodsbeforetransferringthetradinggoodstothecustomer.Therefore,thecompanyisthemainresponsiblepersonandrecognizestheincomeaccordingtothetotalconsiderationreceivedorreceivable.Otherwise,thecompany,astheagent,shallrecognizetheincomeaccordingtotheamountofcommissionorservicechargethatitisexpectedtobeentitledtoreceive,whichshallbedeterminedaccordingtothenetamountofthetotalconsiderationreceivedorreceivableafterdeductingthepricepayabletootherrelevantparties,oraccordingtotheestablishedCommissionamountorproportion.CustomerconsiderationpayableIfthereisconsiderationpayabletothecustomerinthecontract,unlesstheconsiderationistoobtainotherclearlydistinguishablegoodsorservicesfromthecustomer,thecompanywilloffsetthetransactionpricewiththeconsiderationpayable,andoffsetthecurrentincomeatthelatertimeofconfirmingtherelevantincomeorpaying(orpromisingtopay)thecustomer'sconsideration.ContractualrightsnotexercisedbycustomersIfthecompanyadvancessalesofgoodsorservicestocustomers,theamountshallberecognizedasliabilitiesfirst,andthenconvertedintoincomewhenrelevantperformanceobligationsarefulfilled.Whenthecompanydoesnotneedtoreturntheadvancepaymentandthecustomermaygiveupall
orpartofthecontractrights,ifthecompanyexpectstohavetherighttoobtaintheamountrelatedtothecontractrightsgivenupbythecustomer,theaboveamountshallberecognizedasincomeinproportionaccordingtothemodeofthecustomerexercisingthecontractrights;otherwise,thecompanyonlyhastheverylowpossibilityofthecustomerrequiringtoperformtheremainingperformanceobligationsTherelevantbalanceoftheaboveliabilitiesisconvertedintoincome.(b)RevenuerecognitionmethodadoptedbytheCompany(i)GoodssalescontractThesalescontractbetweenthecompanyandthecustomerincludestheperformanceobligationoftransferringthegoods,whichbelongstotheperformanceobligationatacertaintimepoint.Therecognitionofautomobilesalesrevenueandjewelrywholesalerevenueshallmeetthefollowingconditions:thecompanyhasdeliveredthegoodstothecustomeraccordingtothecontract,thecustomerhasacceptedthegoods,thepaymentforgoodshasbeencollectedorthereceipthasbeenobtained,andtherelevanteconomicbenefitsarelikelytoflowin,themainrisksandrewardsoftheownershipofthegoodshavebeentransferred,andthelegalownershipofthegoodshasbeentransferred.(ii)AutomaintenanceandtestingcontractTheperformanceobligationsincludedintheautomobilemaintenanceandtestingcontractbetweenthecompanyanditscustomersbelongtotheperformanceobligationsatacertaintimepoint.ThefollowingconditionsshallbemetfortherecognitionofautomobilemaintenanceandtestingRevenue:thecompanyhascompletedautomobilemaintenanceandtestingservicesaccordingtothecontract,settledallmaterialsandworkinghoursexpenseswithcustomers,andallowedcustomers'vehiclestoleavethecompany'smaintenanceplant.(iii)ServicecontractTheservicecontractbetweenthecompanyandthecustomerincludestheperformanceobligationoftheservicerelatedtotherentalrealestate.Asthecompany'sperformanceatthesametime,thecustomerobtainsandconsumestheeconomicbenefitsbroughtbythecompany'sperformance,thecompanytakesitastheperformanceobligationwithinacertainperiodoftime,andallocatesitequallyduringtheserviceprovisionperiod.(iv)RealestateleasecontractPleaserefertoNote3.29LEASESfortherevenuerecognitionmethodforrealestateleasecontract.
3.27GovernmentGrants
(a)RecognitionofgovernmentgrantsAgovernmentgrantshallnotberecgoniseduntilthereisreasonableassurancethat:
(i)TheCompanywillcomplywiththeconditionsattachingtothem;and(ii)Thegrantswillbereceived.(b)Measurementofgovernmentgrants
Monetarygrantsfromthegovernmentshallbemeasuredatamountreceivedorreceivable,andnon-monetarygrantsfromthegovernmentshallbemeasuredattheirfairvalueoratanominalvalueofCNY1.00whenreliablefairvalueisnotavailable.(c)Accountingforgovernmentgrants(i)GovernmentgrantsrelatedtoassetsGovernmentgrantspertinenttoassetsmeanthegovernmentgrantsthatareobtainedbytheCompanyusedforpurchaseorconstruction,orformingthelong-termassetsbyotherways.Governmentgrantspertinenttoassetsshallberecognizedasdeferredincome,andshouldberecognizedinprofitorlossonasystematicbasisovertheusefullivesoftherelevantassets.Grantsmeasuredattheirnominalvalueshallbedirectlyrecognizedinprofitorlossoftheperiodwhenthegrantsarereceived.Whentherelevantassetsaresold,transferred,writtenoffordamagedbeforetheassetsareterminated,theremainingdeferredincomeshallbetransferredintoprofitorlossoftheperiodofdisposingrelevantassets.(ii)GovernmentgrantsrelatedtoincomeGovernmentgrantsotherthanrelatedtoassetsareclassifiedasgovernmentgrantsrelatedtoincome.Governmentgrantsrelatedtoincomeareaccountedforinaccordancewiththefollowingprinciples:
Ifthegovernmentgrantsrelatedtoincomeareusedtocompensatetheenterprise’srelevantexpensesorlossesinfutureperiods,suchgovernmentgrantsshallberecognizedasdeferredincomeandincludedintoprofitorloss(orwritedownrelatedexpenses)inthesameperiodastherelevantexpensesorlossesarerecognized;Ifthegovernmentgrantsrelatedtoincomeareusedtocompensatetheenterprise’srelevantexpensesorlossesincurred,suchgovernmentgrantsaredirectlyrecognizedintocurrentprofitorloss(orwritedownrelatedexpenses).Forgovernmentgrantscomprisedofpartrelatedtoassetsaswellaspartrelatedtoincome,eachpartisaccountedforseparately;ifitisdifficulttoidentifydifferentpart,thegovernmentgrantsareaccountedforasgovernmentgrantsrelatedtoincomeasawhole.Governmentgrantsrelatedtodailyoperationactivitiesarerecognizedinotherincome(orwritedownrelatedexpenses)inaccordancewiththenatureoftheactivities,andgovernmentgrantsirrelevanttodailyoperationactivitiesarerecognizedin
non-operatingincome.(iii)RepaymentofthegovernmentgrantsRepaymentofthegovernmentgrantsshallberecordedbyincreasingthecarryingamountoftheassetifthebookvalueoftheassethasbeenwrittendown,orreducingthebalanceofrelevantdeferredincomeifdeferredincomebalanceexists,anyexcesswillberecognizedintocurrentprofitorloss;ordirectlyrecognizedintocurrentprofitorlossforothercircumstances.
3.28DeferredTaxAssetsandDeferredTaxLiabilitiesTemporarydifferencesaredifferencesbetweenthecarryingamountofanassetorliabilityinthestatementoffinancialpositionanditstaxbaseatthebalancesheetdate.TheCompanyrecognizeandmeasuretheeffectoftaxabletemporarydifferencesanddeductibletemporarydifferencesonincometaxasdeferredtaxliabilitiesordeferredtaxassetsusingliabilitymethod.Deferredtaxassetsanddeferredtaxliabilitiesshallnotbediscounted.
(a)RecognitionofdeferredtaxassetsDeferredtaxassetsshouldberecognizedfordeductibletemporarydifferences,thecarryforwardofunusedtaxlossesandthecarryforwardofunusedtaxcreditstotheextentthatitisprobablethattaxableprofitwillbeavailableagainstwhichthedeductibletemporarydifferences,thecarryforwardofunusedtaxlossesandthecarryforwardofunusedtaxcreditscanbeutilisedatthetaxratesthatareexpectedtoapplytotheperiodwhentheassetisrealised,unlessthedeferredtaxassetarisesfromtheinitialrecognitionofanassetorliabilityinatransactionthat:
(i)Isnotabusinesscombination;and(ii)Atthetimeofthetransaction,affectsneitheraccountingprofitnortaxableprofit(taxloss)TheCompanyshallrecognizeadeferredtaxassetforalldeductibletemporarydifferencesarisingfrominvestmentsinsubsidiaries,associatesandjointventures,onlytotheextentthat,itisprobablethat:
(i)Thetemporarydifferencewillreverseintheforeseeablefuture;and(ii)Taxableprofitwillbeavailableagainstwhichthedeductibletemporarydifferencecanbeutilised.Attheendofeachreportingperiod,ifthereissufficientevidencethatitisprobablethattaxableprofitwillbeavailableagainstwhichthedeductibletemporarydifferencecanbeutilized,theCompanyrecognizesapreviouslyunrecognizeddeferredtaxasset.Thecarryingamountofadeferredtaxassetshallbereviewedattheendofeachreportingperiod.TheCompanyshallreducethecarryingamountofadeferredtaxassettotheextentthatitisnolongerprobablethatsufficienttaxableprofitwillbeavailabletoallowthebenefitofpartorallofthatdeferredtaxassettobeutilised.Anysuchreductionshallbereversedtotheextentthatit
becomesprobablethatsufficienttaxableprofitwillbeavailable.(b)RecognitionofdeferredtaxliabilitiesAdeferredtaxliabilityshallberecognizedforalltaxabletemporarydifferencesatthetaxratethatareexpectedtoapplytotheperiodwhentheliabilityissettled.(i)Nodeferredtaxliabilityshallberecognizedfortaxabletemporarydifferencesarisingfrom:
?Theinitialrecognitionofgoodwill;or?Theinitialrecognitionofanassetorliabilityinatransactionwhich:isnotabusinesscombination;andatthetimeofthetransaction,affectsneitheraccountingprofitnortaxableprofit(taxloss)(ii)Anentityshallrecognizeadeferredtaxliabilityforalltaxabletemporarydifferencesassociatedwithinvestmentsinsubsidiaries,associates,andjointventures,excepttotheextentthatbothofthefollowingconditionsaresatisfied:
?TheCompanyisabletocontrolthetimingofthereversalofthetemporarydifference;and
?Itisprobablethatthetemporarydifferencewillnotreverseintheforeseeablefuture.
(c)Recognitionofdeferredtaxliabilitiesorassetsinvolvedinspecialtransactionsorevents
(i)DeferredtaxliabilitiesorassetsrelatedtobusinesscombinationForthetaxabletemporarydifferenceordeductibletemporarydifferencearisingfromabusinesscombinationnotundercommoncontrol,adeferredtaxliabilityoradeferredtaxassetshallberecognized,andsimultaneously,goodwillrecognizedinthebusinesscombinationshallbeadjustedbasedonrelevantdeferredtaxexpense(income).(ii)ItemsdirectlyrecognizedinequityCurrenttaxanddeferredtaxrelatedtoitemsthatarerecognizeddirectlyinequityshallberecognizedinequity.Suchitemsinclude:
othercomprehensiveincomegeneratedfromfairvaluefluctuationofavailableforsaleinvestments;anadjustmenttotheopeningbalanceofretainedearningsresultingfromeitherachangeinaccountingpolicythatisappliedretrospectivelyorthecorrectionofapriorperiod(significant)error;amountsarisingoninitialrecognitionoftheequitycomponentofacompoundfinancialinstrumentthatcontainsbothliabilityandequitycomponent.(iii)UnusedtaxlossesandunusedtaxcreditsA.UnsusedtaxlossesandunusedtaxcreditsgeneratedfromdailyoperationoftheCompanyitself
Deductiblelossreferstothelosscalculatedandpermittedaccordingtotherequirementoftaxlawthatcanbeoffsetagainsttaxableincomeinfutureperiods.Thecriteriaforrecognisingdeferredtaxassetsarisingfromthecarryforwardofunusedtaxlossesandtaxcreditsarethesameasthecriteriaforrecognisingdeferredtaxassetsarisingfromdeductibletemporarydifferences.TheCompanyrecognizesadeferredtaxassetarisingfromunusedtaxlossesortaxcreditsonlytotheextentthatthereisconvincingotherevidencethatsufficienttaxableprofitwillbeavailableagainstwhichtheunusedtaxlossesorunusedtaxcreditscanbeutilisedbytheCompany.Incometaxesincurrentprofitorlossshallbedeductedaswell.B.UnsusedtaxlossesandunusedtaxcreditsarisingfromabusinesscombinationUnderabusinesscombination,theacquiree’sdeductibletemporarydifferenceswhichdonotsatisfythecriteriaattheacquisitiondateforrecognitionofdeferredtaxassetshallnotberecognized.Within12monthsaftertheacquisitiondate,ifnewinformationregardingthefactsandcircumstancesexistsattheacquisitiondateandtheeconomicbenefitoftheacquiree’sdeductibletemporarydifferencesattheacquisitionisexpectedtoberealised,theCompanyshallrecognizeacquireddeferredtaxbenefitsandreducethecarryingamountofanygoodwillrelatedtothisacquisition.Ifgoodwillisreducedtozero,anyremainingdeferredtaxbenefitsshallberecognizedinprofitorloss.Allotheracquireddeferredtaxbenefitsrealisedshallberecognizedinprofitorloss.(iv)TemporarydifferencegeneratedinconsolidationeliminationWhenpreparingconsolidatedfinancialstatements,iftemporarydifferencebetweencarryingvalueoftheassetsandliabilitiesintheconsolidatedfinancialstatementsandtheirtaxablebasesisgeneratedfromeliminationofinter-Companyunrealizedprofitorloss,deferredtaxassetsordeferredtaxliabilitiesshallberecognizedintheconsolidatedfinancialstatements,andincometaxesexpenseincurrentprofitorlossshallbeadjustedaswellexceptfordeferredtaxrelatedtotransactionsoreventsrecognizeddirectlyinequityandbusinesscombination.(v)Share-basedpaymentsettledbyequityIftaxauthoritypermitstaxdeductionthatrelatestoshare-basedpayment,duringtheperiodinwhichtheexpensesarerecognizedaccordingtotheaccountingstandards,theCompanyestimatesthetaxbaseinaccordancewithavailableinformationattheendoftheaccountingperiodandthetemporarydifferencearisingfromit.Deferredtaxshallberecognizedwhencriteriaofrecognitionaresatisfied.Iftheamountofestimatedfuturetaxdeductionexceedstheamountofthecumulativeexpensesrelatedtoshare-basedpaymentrecognizedaccordingtotheaccountingstandards,thetaxeffectoftheexcessamountshallberecognizeddirectlyinequity.
3.29LeasesTheCompanyclassifiestheleasethatsubstantiallytransfersalltherisksandrewardsincidentaltoownershipofanunderlyingassetasafinancelease.Otherleaseshallbeclassifiedasanoperatinglease.
(a)Accountingforoperatingleases(i)WhentheCompanyasalessee,theleasepaymentsshouldberecognizedintoprofitorlossofthereportingperiodovertheleasetermsonastraight-linebasisortheamountofusage.Ifthelessorprovidestherent-freeperiod,theCompanyshallallocatetotalleasepaymentovertheentireleasetermsincludingtherent-freeperiodusingstraight-linebasisorotherreasonablemethod.Leaseexpenseandthecorrespondingliabilitiesshallberecognizedduringtherent-freeperiod.IfexpensesrelatingtoleasewhichshouldbebornebytheCompanyarepaidbythelessoroftheassets,theyshallbedeductedfromthetotalleaseexpensesandthebalancesshallbeamortizedovertheleasetermsbytheCompany.InitialdirectcostsrelatingtoleasetransactionsincurredbytheCompanyshallberecognizedintocurrentprofitorloss.Contingentrental,ifincludedintheleasecontract,shallberecognizedintoprofitorlossuponoccurrence.(ii)WhentheCompanyasalessor,leaseincomeshouldberecognizedovertheleasetermsonastraight-linebasis.Ifthelessorprovidestherent-freeperiod,theCompanyshallallocatetotalleaseincomeovertheentireleasetermsincludingtherent-freeperiodusingstraight-linebasisorotherreasonablemethod.Leaseincomeshallberecognizedduringtherent-freeperiod.IfexpensesrelatingtoleaseswhichshouldbebornebythelesseeoftheassetsarepaidbytheCompany,theyshallbedeductedfromthetotalleaseincomeandthebalancesshallbeamortizedovertheleasetermsbytheCompany.InitialdirectcostsrelatingtoleasetransactionsincurredbytheCompanyshallberecognizedintocurrentprofitorloss;iftheamountsarematerial,theyshallbecapitalizedandamortizedovertheleasetermsonthesamebasisastherecognitionofleaseincome.Contingentrental,ifincludedintheleasecontract,shallberecognizedintoprofitorlossuponoccurrence.(b)Accountingforfinanceleases(i)WhentheCompanyasalessee,atcommencementofthelease,assetsobtainedthroughfinanceleasesshouldberecordedattheloweroftheirfairvaluesandthepresentvaluesoftheminimumleasepayments.TheCompanyshallrecognizelong-termpayablesatamountsequaltotheminimum
leasepayments,andthedifferencesshallberecognizedasunrecognizedfinancecharges,whichshallbeamortizedovertheleasetermsasfinanceexpensesbyusingeffectiveinterestratemethodandrecognizedintofinancecost.Initialdirectcostsarerecordedinthevalueoftheleasedassets.TheCompanyadoptsthesamedepreciationpolicyfortheleasedassetsasitsself-ownedfixedassets.Depreciationperiodisdeterminedaccordingtotheleasecontract.IfitisreasonablycertainthattheCompanywillobtaintheownershipoftheassetsattheexpirationofthelease,thedepreciationperiodwillbetheusefullivesoftheleasedassets.IfitisnotcertainthattheCompanywillobtaintheownershipoftheassetattheexpirationofthelease,thedepreciationperiodistheshorteroftheleaseperiodandtheirusefullives.(ii)WhentheCompanyasalessor,atcommencementofthelease,leasereceivablesshallbemeasuredatminimumleasereceivablesplusinitialdirectcostsrelatingtoleasetransactionsandrecognizedaslong-termreceivableinthestatementoffinancialposition.Unguaranteedresidualvaluesarerecordedsimultaneously.Thedifferencesbetweenthetotalofminimumleasereceivable,initialdirectcostandunguaranteedresidualvaluesandtheirpresentvalueshallberecognizedasunearnedfinanceincome,andshallamortizedovertheleasetermsasleaseincomeattheeffectiveinterestratemethod.
3.30SignificantAccountingPoliciesandAccountingEstimates
Basedonthehistoricalexperienceandotherfactors,includingappropriateexpectationsoffutureevents,theCompanyperformedcontinuousassessmentofimportantaccountingestimatesandkeyassumptions.Thesamplesofimportantaccountingestimatesandkeyassumptionsthatarelikelytoresultinsignificantadjustmentriskofthebookvalueofassetsandliabilitiesinthenextaccountingyearareasfollows:
Classificationoffinancialassets
Themajorjudgmentsinvolvedindeterminingtheclassificationoffinancialassetsincludetheanalysisofbusinessmodelandcontractcashflowcharacteristics.
TheCompanydeterminesthebusinessmodelofmanagingfinancialassetsattheleveloffinancialportfolios.Thefactorsconsideredincludethewaytoevaluateandreporttheperformanceoffinancialassetstokeymanagementpersonnel,therisksaffectingtheperformanceoffinancialassetsandtheirmanagementmethods,aswellasthewayforrelevantbusinessmanagementpersonneltoobtainremuneration,etc.
Whenevaluatingwhetherthecontractcashflowoffinancialassetsisconsistentwiththebasicloanarrangements,theCompanyhasthefollowingmainjudgments:whetherthetimedistributionoramountoftheprincipalmaychangeinthedurationduetoprepaymentandotherreasons;whethertheinterestonlyincludesthetimevalueofmoney,creditrisk,otherbasiclendingrisksandtheconsiderationwithcostandprofit.Forexample,doestheamountofprepaymentonlyreflecttheoutstandingprincipalandtheinterestbasedontheoutstandingprincipal,aswellasthereasonablecompensationpaidfortheearlyterminationofthecontract.MeasurementofexpectedcreditlossofaccountsreceivableTheCompanycalculatestheexpectedcreditlossofaccountsreceivablethroughthedefaultriskexposureofaccountsreceivableandtheexpectedcreditlossrate,anddeterminestheexpectedcreditlossratebasedonthedefaultprobabilityandthedefaultlossrate.Indeterminingtheexpectedcreditlossrate,theCompanyusesdataincludingtheinternalhistoricalcreditlossexperience,andadjuststhehistoricaldataaccordingtothecurrentsituationandforward-lookinginformation.Whenconsideringforward-lookinginformation,theindicatorsusedbytheCompanyincludetheriskofeconomicdownturn,changesinexternalmarketenvironment,technicalenvironmentandcustomersituation,etc.TheCompanyregularlymonitorsandreviewstheassumptionsrelatedtothecalculationofexpectedcreditloss.
Deferredtaxassets
Totheextentthatthereislikelytobesufficienttaxableprofitstooffsetthelosses,deferredincometaxassetsshouldberecognizedforallunusedtaxlosses.Themanagementhastoperformalotofjudgmenttoestimatethetimeandamountoffuturetaxableprofits,combinedwithtaxplanningstrategy,todeterminetheamountofdeferredincometaxassetsthatshouldberecognized.DeterminationoffairvalueofunlistedequityinvestmentThefairvalueofunlistedequityinvestmentistheestimatedfuturecashflowdiscountedaccordingtothecurrentdiscountrateofprojectswithsimilartermsandriskcharacteristics.Thiskindofvaluationrequiresthecompanytoestimatetheexpectedfuturecashflowanddiscountrate,soitisuncertain.Inlimitedcircumstances,iftheinformationusedtodeterminethefairvalueisinsufficient,orthedistributionrangeofthepossibleestimatedamountofthefairvalueiswide,andthecostrepresentsthebestestimateofthefairvaluewithintherange,thecostcanrepresenttheappropriateestimateofthefairvaluewithinthedistributionrange.
3.31ChangesinSignificantAccountingPoliciesandAccountingEstimates
(a)ChangesinaccountingpolicesOnJuly5,2017,theMinistryofFinanceissued“AccountingStandardsforBusinessEnterprisesNo.14–Revenue”(CK[2017]No.22)(the"NewRevenueStandards").DomesticlistedenterprisesarerequiredtoimplementtheNewRevenueStandardsfromJanuary1,2020.TheCompanyimplementedtheNewRevenueStandardsonJanuary1,2020andadjustedtherelevantcontentsofaccountingpolicies.PleaserefertoNotes3.26REVENUEfordetails.TheNewRevenueStandardsrequiresthatthecumulativeimpactofthefirstimplementationofthestandardshouldbeadjustedtotheamountofretainedearningsandotherrelevantitemsinthefinancialstatementsatthebeginningofthefirstimplementationyear(i.e.January1,2020),andtheinformationofthecomparableperiodshouldnotbeadjusted.WhenimplementingtheNewRevenueStandards,theCompanyonlyadjustedthecumulativeimpactofcontractsthathavenotbeencompletedonthefirstexecutiondate.DuetotheimplementationoftheNewRevenueStandards,theCompany’sconsolidatedfinancialstatementswereadjustedaccordingly.AsofJanuary1,2020,thecontractliabilitieswereCNY23,062,146.90,othercurrentliabilitieswereCNY2,998,079.10,andtheadvancereceiptswereCNY-26,060,226.00.Therelevantadjustmenthasnoeffectontheshareholders'equitybelongingtotheparentCompanyintheconsolidatedfinancialstatementsoftheCompany.ThereisnoneedtoadjustthefinancialstatementsoftheparentCompanyoftheCompany.
(b)Significantchangesinaccountingestimates
TheCompanyhasnosignificantchangesinaccountingestimatesforthereportingperiod.(c)Adjustmentsofthefinancialstatementsatthebeginningofthereportingperiodforthefirstyearadoptionofnewfinancialinstrumentsstandards.
ConsolidatedFinancialStatementsUnit:YuanCurrency:CNY
| Items | 31December2019 | 1January2020 | Adjustment |
| Items | 31December2019 | 1January2020 | Adjustment |
| Currentliabilities | |||
| Advancesfromcustomers | 26,060,226.00 | -26,060,226.00 | |
| Contractliabilities | N/a. | 23,062,146.90 | 23,062,146.90 |
| Othercurrentliabilities | N/a. | 2,998,079.10 | 2,998,079.10 |
Note4.TAXATION
4.1MajorCategoriesofTaxandTaxRatesApplicabletotheCompany
| axes | Taxbases | Taxrates |
| Value-addedtax(VAT) | Thetaxablerevenuefromsalesofgoodsorrenderingofservices | 13%，11%，9%，5%，6%，3% |
| Consumptiontax | Thetaxablerevenuefromsalesofgoods | 10% |
| Housingpropertytax | Forhousingpropertyleviedonthebasisofprice,housingpropertytaxisleviedattherateof1.2%ofthebalanceafterdeducting30%ofthecost;forhousingpropertyleviedonthebasisofrent,housingpropertytaxisleviedattherateof12%ofrentrevenue. | 1.2%、12% |
| Urbanmaintenanceandconstructiontax | Turnovertaxpayable | 7% |
| Educationsurcharge | Turnovertaxpayable | 3% |
| Localeducationsurcharge | Turnovertaxpayable | 2% |
| Enterpriseincometax | Taxableincome | 20%、25% |
Taxratesofincometaxofdifferentsubsidiariesarestatedasbelow:
| NameofTaxpayer | RateofIncomeTax |
| 深圳市新永通机动车检测设备有限公司(ShenzhenXinyongtongAutoVehicleInspectionEquipmentCo.,Ltd.) | 20% |
| 深圳市华日安信汽车检测有限公司(ShenzhenHuariAnxinAutomobileInspectionCo.,Ltd.) | 20% |
| Taxpayersotherthantheabove-mentioned | 25% |
4.2TaxPreferencePursuanttothedocumentnumberedCaiShui[2019]13issuedbyStateTaxationAdministration,ShenzhenXinyongtongAutoVehicleInspectionEquipmentCo.,Ltd.andShenzhenHuariAnxinAutoVehicleInspectionCo.,Ltd.enjoysthepreferentialtaxpolicyformicroandsmall-sizedenterprises,andissubjecttotheenterpriseincometaxrateof20%.Note5.NOTESTOTHECONSOLIDATEDFINANCIALSTATEMENTS
5.1Monetaryfunds
(1)Details
| Items | 31Dec2020 | 31Dec2019 |
| Cashonhand | 20,542.55 | 120,351.17 |
| Cashinbank | 237,605,156.38 | 428,731,254.87 |
| Total | 237,625,698.93 | 428,851,606.04 |
(1)ThebankdepositofCNY29,163,042.30isthesupervisionfundofthecompany'sdevelopmentofplot03oftheupgradingandreconstructionprojectofTellus-Jimenggoldjewelryindustrialpark.Inaddition,thereisnoothermoneywithlimiteduseandpotentialrecoveryriskduetomortgage,pledgeorfreezinginthemonetaryfundattheendoftheperiod.
(2)Themonetaryfundattheendoftheperioddecreasedby44.59%comparedwiththatatthebeginningoftheperiod,mainlyduetothepaymentofenterpriseincometaxonequitytransferofXinglongcompany,thedistributionofcashdividendsandthepurchaseoffinancialproducts.
5.2Held-for-tradingfinancialassets
| Items | 31Dec2020 | 31Dec2019 |
| Financialassetsclassifiedasatfairvaluethroughprofitorloss | 314,013,869.86 | 60,486,575.34 |
| Including:Debtinstrumentinvestments | 314,013,869.86 | 60,486,575.34 |
| Total | 314,013,869.86 | 60,486,575.34 |
Thetradingfinancialassetsattheendoftheperiodincreasedby419.15%comparedwiththebeginningoftheperiod,mainlyduetothecompanyusingidleselfownedfundsforcashmanagement.
5.3Accountsreceivable
(1)Detailsonages
| Items | 31Dec2020 | 31Dec2019 |
| Within1year | 20,025,574.10 | 113,750,731.59 |
| 1-2years | 3,360.00 | |
| 2-3years | ||
| Over3years | 49,125,862.29 | 49,125,862.29 |
| Subtotal | 69,154,796.39 | 162,876,593.88 |
| Less:provisionforbaddebts | 49,326,286.03 | 50,263,369.61 |
| Total | 19,828,510.36 | 112,613,224.27 |
Accountsreceivableattheendoftheperioddecreasedby82.39%comparedwiththatatthebeginningoftheperiod,mainlybecauseSichuanTellusJewelryTechnologyCo.,Ltd.stoppedoperationthisyearandrecoveredallaccountsreceivableatthebeginningoftheperiod.
(2)Detailsoncategories
| Categories | Closingbalance | ||||
| Bookbalance | Provisionforbaddebts | Carryingamount | |||
| Amount | %tototal | Amount | Provisionproportion(%) | ||
| Receivableswithprovisionmadeonanindividualbasis | 49,125,862.29 | 71.04 | 49,125,862.29 | 100.00 | |
| Receivableswithprovisionmadeonacollectivebasis | 20,028,934.10 | 28.96 | 200,423.74 | 1.00 | 19,828,510.36 |
| Total | 69,154,796.39 | 100.00 | 49,326,286.03 | 71.33 | 19,828,510.36 |
(Continued)
| Categories | Openingbalance |
| Bookbalance | Provisionforbaddebts | Carryingamount | |||
| Amount | %tototal | Amount | Provisionproportion(%) | ||
| Receivableswithprovisionmadeonanindividualbasis | 49,125,862.29 | 30.16 | 49,125,862.29 | 100.00 | |
| Receivableswithprovisionmadeonacollectivebasis | 113,750,731.59 | 69.84 | 1,137,507.32 | 1.00 | 112,613,224.27 |
| Total | 162,876,593.88 | 100.00 | 50,263,369.61 | 30.86 | 112,613,224.27 |
Specificdescriptionofprovisionforbaddebts:
(a)Accountsreceivablewithprovisionmadeonanindividualbasis
| Debtors | Bookbalance | Provisionforbaddebts | Provisionproportion(%) | Reasons |
| 深圳市金路工贸公司(ShenzhenJinluIndustrialandTradingCo.,Ltd.?) | 9,846,607.00 | 9,846,607.00 | 100.00 | Expectedtobeunrecoverableduetolongages |
| 广东湛江三星汽车股份有限公司(GuangdongZhanjiangSanxingAutomobileCo.,Ltd.*) | 4,060,329.44 | 4,060,329.44 | 100.00 | Expectedtobeunrecoverableduetolongages |
| 王昌龙(WANGChanglong) | 2,370,760.40 | 2,370,760.40 | 100.00 | Expectedtobeunrecoverableduetolongages |
| 惠州市建达城道桥工程公司(HuizhouJiandachengRoadandBridge | 2,021,657.70 | 2,021,657.70 | 100.00 | Expectedtobeunrecoverableduetolongages |
?
TheEnglishnamesareforidentificationpurposeonly.
| Debtors | Bookbalance | Provisionforbaddebts | Provisionproportion(%) | Reasons |
| EngineeringCo.,Ltd.*) | ||||
| 江铃汽车制造厂(JianglingAutomobileFactory*) | 1,191,059.98 | 1,191,059.98 | 100.00 | Expectedtobeunrecoverableduetolongages |
| 阳江市汽车贸易有限公司(YangjiangAutomobileTradingCo.,Ltd.*) | 1,150,000.00 | 1,150,000.00 | 100.00 | Expectedtobeunrecoverableduetolongages |
| 广东省物资集团(GuangdongMaterialsGroupCorporation*) | 1,862,000.00 | 1,862,000.00 | 100.00 | Expectedtobeunrecoverableduetolongages |
| Others | 26,623,447.77 | 26,623,447.77 | 100.00 | Expectedtobeunrecoverableduetolongages |
| Subtotal | 49,125,862.29 | 49,125,862.29 | 100.00 |
(b)Accountreceivableswithprovisionforbaddebtsmadeonacollectivebasisusingageanalysismethod
| Ages | 31Dec2020 | ||
| Bookbalance | Provisionforbaddebts | Provisionproportion(%) | |
| Within1year | 20,025,574.10 | 200,255.74 | 1.00 |
| 1-2years | 3,360.00 | 168.00 | 5.00 |
| Subtotal | 20,028,934.10 | 200,423.74 | 1.00 |
(Continued)
| Ages | 31Dec2019 | ||
| Bookbalance | Provisionforbaddebts | Provisionproportion(%) | |
| Within1year | 12,352,039.14 | 123,520.40 | 1.00 |
| Subtotal | 12,352,039.14 | 123,520.40 | 1.00 |
*
TheEnglishnamesareforidentificationpurposeonly.
(3)Changesinprovisionforbaddebts
| Items | Openingbalance | Increase | Decrease | Closingbalance | |||||
| Accrual | Recovery | Others | Reversal | Written-off | Others | ||||
| Receivableswithprovisionmadeonanindividualbasis | 49,125,862.29 | 49,125,862.29 | |||||||
| Receivableswithprovisionmadeonacollectivebasis | 1,137,507.32 | -937,083.58 | 200,423.74 | ||||||
| Subtotal | 50,263,369.61 | -937,083.58 | 49,326,286.03 | ||||||
(4)Detailsofthetop5debtorswithlargestbalances
| Debtors | Bookbalance | Proportiontothetotalbalanceofaccountsreceivable(%) | Provisionforbaddebts |
| 深圳市金路工贸公司(ShenzhenJinluindustryandTradeCo.,Ltd.*) | 9,846,607.00 | 14.24 | 9,846,607.00 |
| 广东湛江三星汽车股份有限公司(GuangdongSamsungAutomobileCo.,Ltd.*) | 4,060,329.44 | 5.87 | 4,060,329.44 |
| 深圳市尚金缘珠宝实业有限公司(ShenzhenshangjinyuanJewelryIndustryCo.,Ltd.*) | 3,390,652.67 | 4.90 | 33,906.53 |
| 王昌龙(WangChanglong) | 2,370,760.40 | 3.43 | 2,370,760.40 |
| 广东省物资集团(GuangdongMaterials | 1,862,000.00 | 2.69 | 1,862,000.00 |
| Debtors | Bookbalance | Proportiontothetotalbalanceofaccountsreceivable(%) | Provisionforbaddebts |
| Group) | |||
| Subtotal | 21,530,349.51 | 31.13 | 18,173,603.37 |
5.4Prepayments
(1)Detailsonages
| Ages | 31Dec2020 | 31Dec2019 | ||
| Bookbalance | %tototal | Bookbalance | %tototal | |
| Within1year | 9,834,423.80 | 99.86 | 12,671,077.95 | 99.90 |
| 1-2years | 800.00 | 0.01 | 632.00 | 0.01 |
| 2-3years | 632.00 | 0.01 | ||
| Over3years | 11,893.94 | 0.12 | 11,893.94 | 0.09 |
| Total | 9,847,749.74 | 100.00 | 12,683,603.89 | 100.00 |
(2)Detailsofthetop5debtorswithlargestbalances
| Debtors | Bookbalance | Proportiontothetotalbalanceofadvancespaid(%) |
| 一汽丰田汽车销售有限公司(FAWToyotaMotorSalesCo.,Ltd.?) | 7,906,522.88 | 80.29 |
| 丰田汽车(中国)投资有限公司(ToyotaMotor(China)InvestmentCo.,Ltd.*) | 1,283,704.00 | 13.04 |
| 深圳聚融丰科技有限公司(ShenzhenjurongfengTechnologyCo.,Ltd.*) | 192,890.99 | 1.96 |
| 中国太平洋财产保险股份有限公司深圳分公司(ShenzhenBranchofChinaPacificPropertyInsuranceCo.,Ltd.*) | 154,717.00 | 1.57 |
| 小鹏汽车销售有限公司 | 102,554.58 | 1.04 |
?
TheEnglishnamesareforidentificationpurposeonly.
| Debtors | Bookbalance | Proportiontothetotalbalanceofadvancespaid(%) |
| (XiaopengAutomobileSalesCo.,Ltd.*) | ||
| Subtotal | 9,640,389.45 | 97.89 |
5.5OtherReceivables
(1)Details
| Items | Closingbalance | Openingbalance |
| Interestreceivable | ||
| Dividendreceivable | 24,647,732.42 | 39,647,732.42 |
| Otherreceivables | 4,622,058.41 | 5,260,813.98 |
| Total | 29,269,790.83 | 44,908,546.40 |
(2)Dividendreceivable
(a)Details
| Items | Closingbalance | Openingbalance |
| 中国浦发机械工业股份有限公司(ChinaPerfectMachineryIndustryCorp.,Ltd.?) | 547,184.35 | 547,184.35 |
| 深圳东风汽车有限公司(ShenzhenDongfengAutomobileCo.,Ltd.*) | 24,100,548.07 | 39,100,548.07 |
| Subtotal | 24,647,732.42 | 39,647,732.42 |
| Less:provisionforbaddebts | ||
| Total | 24,647,732.42 | 39,647,732.42 |
(b)Dividendreceivableover1year
| Items | Closingbalance | Ages | Reasons | Notes |
| 深圳东风汽车有限公司(ShenzhenDongfengAutomobileCo.,Ltd.*) | 24,100,548.07 | 1–2years | Notyetpaiduntil2022.08throughBODdecision | Noimpairment |
?
TheEnglishnamesareforidentificationpurposeonly.
| Items | Closingbalance | Ages | Reasons | Notes |
| Total | 24,100,548.07 |
(3)Otherreceivables
(a)Otherreceivablescategorizedbyages
| Ages | ClosingBalance | OpeningBalance |
| Within1year | 1,800,294.61 | 2,120,412.24 |
| 1–2years | 161,722.86 | 663,633.11 |
| 2–3years | 417,554.97 | 116,202.70 |
| Over3years | 54,005,535.26 | 54,715,279.65 |
| Subtotal | 56,385,107.70 | 57,615,527.70 |
| Less:provisionforbaddebts | 51,763,049.29 | 52,354,713.72 |
| Total | 4,622,058.41 | 5,260,813.98 |
(b)Otherreceivablescategorizedbynature
| Natureofreceivables | Closingbalance | Openingbalance |
| Depositassecurity | 477,190.50 | 35,477.21 |
| Reservefund | 13,822.20 | 43,385.72 |
| Temporaryadvancepaymentreceivable | 55,894,095.00 | 57,536,664.77 |
| Subtotal | 56,385,107.70 | 57,615,527.70 |
| Less:provisionforbaddebts | 51,763,049.29 | 52,354,713.72 |
| Total | 4,622,058.41 | 5,260,813.98 |
(c)Otherreceivablescategorizedbymethodsofprovisionforbaddebts
A.Asof2020-12-31,provisionforbaddebtsaccordingtothemodelofphaseI/II/III:
| Phase | Closingbalance | Provisionforbaddebts | Openingbalance |
| I | 2,379,572.44 | 109,600.10 | 2,269,972.34 |
| II | |||
| III | 54,005,535.26 | 51,653,449.19 | 2,352,086.07 |
| Phase | Closingbalance | Provisionforbaddebts | Openingbalance |
| Total | 56,385,107.70 | 51,763,049.29 | 4,622,058.41 |
Asof2020-12-31,provisionforbaddebtsatphaseI:
| Catagories | BookBalance | Provisionproportion(%) | Provisionforbaddebts | CarryingAmount | Reasonsforprovisionmade |
| Receivableswithprovisionmadeonanindividualbasis | |||||
| Receivableswithprovisionmadeonacollectivebasis | 2,379,572.44 | 4.61 | 109,600.10 | 2,269,972.34 | |
| 1.Portfoliogroupedwithages | 1,931,494.44 | 5.44 | 105,119.32 | 1,826,375.12 | nodramaticcreditriskchangeafterconfirmed |
| 2.Portfoliogroupedwithdepositassecurity | 448,078.00 | 1.00 | 4,480.78 | 443,597.22 | nodramaticcreditriskchangeafterconfirmed |
| Total | 2,379,572.44 | 4.61 | 109,600.10 | 2,269,972.34 |
Asof2020-12-31,provisionforbaddebtsatphaseIII:
| Catagories | BookBalance | Provisionproportion(%) | Provisionforbaddebts | CarryingAmount | Reasonsforprovisionmade |
| Receivableswithprovisionmadeonanindividualbasis | 49,301,363.12 | 100.00 | 49,301,363.12 | creditriskchangedramaticallyafterconfirmed | |
| Receivableswith | 4,704,172.14 | 50.00 | 2,352,086.07 | 2,352,086.07 |
| Catagories | BookBalance | Provisionproportion(%) | Provisionforbaddebts | CarryingAmount | Reasonsforprovisionmade |
| provisionmadeonacollectivebasis | |||||
| 1.Portfoliogroupedwithages | 4,675,059.64 | 50.00 | 2,337,529.82 | 2,337,529.82 | creditriskchangedramaticallyafterconfirmed |
| 2.Portfoliogroupedwithdepositassecurity | 29,112.50 | 50.00 | 14,556.25 | 14,556.25 | |
| Total | 54,005,535.26 | 95.64 | 51,653,449.19 | 2,352,086.07 |
B.Asof2019-12-31,provisionforbaddebtsaccordingtothemodelofphaseI/II/III:
| Phase | Closingbalance | Provisionforbaddebts | Openingbalance |
| I | 7,776,632.54 | 2,515,818.56 | 5,260,813.98 |
| II | |||
| III | 49,838,895.16 | 49,838,895.16 | |
| Total | 57,615,527.70 | 52,354,713.72 | 5,260,813.98 |
Asof2019-12-31,provisionforbaddebtsatphaseI:
| Catagories | BookBalance | Provisionproportion(%) | Provisionforbaddebts | CarryingAmount | Reasonsforprovisionmade |
| Receivableswithprovisionmadeonanindividualbasis | |||||
| Receivableswithprovisionmadeona | 7,776,632.54 | 73.52 | 2,515,818.56 | 5,260,813.98 |
| Catagories | BookBalance | Provisionproportion(%) | Provisionforbaddebts | CarryingAmount | Reasonsforprovisionmade |
| collectivebasis | |||||
| 1.Portfoliogroupedwithages | 7,741,155.33 | 32.31 | 2,501,198.66 | 5,239,956.67 | nodramaticcreditriskchangeafterconfirmed |
| 2.Portfoliogroupedwithdepositassecurity | 35,477.21 | 41.21 | 14,619.90 | 20,857.31 | nodramaticcreditriskchangeafterconfirmed |
| Total | 7,776,632.54 | 73.52 | 2,515,818.56 | 5,260,813.98 |
Asof2019-12-31,provisionforbaddebtsatphaseIII:
| Catagories | BookBalance | Provisionproportion(%) | Provisionforbaddebts | CarryingAmount | Reasonsforprovisionmade |
| Receivableswithprovisionmadeonanindividualbasis | 49,838,895.16 | 100.00 | 49,838,895.16 | creditriskchangedramaticallyafterconfirmed | |
| Receivableswithprovisionmadeonancollectivebasis | |||||
| Total | 49,838,895.16 | 100.00 | 49,838,895.16 |
Asof2020-12-31,otherreceivableswithprovisionmadeonanindividualbasis
| Debtors | Bookbalance | Provisionforbaddebts | Provisionproportion(%) |
| 中汽华南汽车销售公司(ZhongqiSouthChinaAutomobileSalesCo.,Ltd.?) | 9,832,956.37 | 9,832,956.37 | 100.00 |
| 南方工贸深圳实业公司(ShenzhenNanfangIndustryandTradeCo., | 7,359,060.75 | 7,359,060.75 | 100.00 |
?
TheEnglishnamesareforidentificationpurposeonly.
| Debtors | Bookbalance | Provisionforbaddebts | Provisionproportion(%) |
| Ltd.*) | |||
| 深圳中浩（集团）股份有限公司(ShenzhenZhonghao(Group)Co.,Ltd.*) | 5,000,000.00 | 5,000,000.00 | 100.00 |
| 金贝丽家电公司(JinbeiliHouseholdAppliancesCo.,Ltd.*) | 2,706,983.51 | 2,706,983.51 | 100.00 |
| 深圳市新兴泰贸易有限公司(ShenzhenXinxingtaiTradingCo.,Ltd.*) | 2,418,512.90 | 2,418,512.90 | 100.00 |
| 深圳石油化工（集团）股份有限公司(ShenzhenPetrochemical(Group)Co.,Ltd.*) | 1,903,819.59 | 1,903,819.59 | 100.00 |
| 深圳市特发华通包装实业有限公司(ShenzhenSDGHuatongPackagingCo.,Ltd.*) | 1,212,373.79 | 1,212,373.79 | 100.00 |
| 深圳金鹤标准件模具有限公司(ShenzhenJinheMouldCo.,Ltd.*) | 1,023,560.00 | 1,023,560.00 | 100.00 |
| Others | 17,844,096.21 | 17,844,096.21 | 100.00 |
| Total | 49,301,363.12 | 49,301,363.12 | 100.00 |
Asof2020-12-31,otherreceivableswithprovisionmadeonancollectivebasis
| Catagories | BookBalance | Provisionproportion(%) | Provisionforbaddebts |
| 1.Portfoliogroupedwithages | 6,606,554.08 | 2,442,649.14 | 36.97 |
| Including:Within1year | 1,352,216.61 | 13,522.17 | 1.00 |
| 1–2years | 161,722.86 | 8,086.15 | 5.00 |
| 2–3years | 417,554.97 | 83,511.00 | 20.00 |
| Over3years | 4,675,059.64 | 2,337,529.82 | 50.00 |
| 2.Portfoliogroupedwithdepositassecurity | 477,190.5 | 19,037.0 | 3.99 |
| Catagories | BookBalance | Provisionproportion(%) | Provisionforbaddebts |
| Total | 7,083,744.58 | 2,461,686.14 | 34.75 |
Asof2019-12-31,otherreceivableswithprovisionmadeonancollectivebasis
| Catagories | BookBalance | Provisionproportion(%) | Provisionforbaddebts |
| 1.Portfoliogroupedwithages | 7,741,155.33 | 2,514,044.83 | 32.48 |
| Including:Within1year | 2,120,409.03 | 21,204.09 | 1.00 |
| 1–2years | 628,159.11 | 31,407.95 | 5.00 |
| 2–3years | 116,202.70 | 23,240.54 | 20.00 |
| Over3years | 4,876,384.49 | 2,438,192.25 | 50.00 |
| 2.Portfoliogroupedwithdepositassecurity | 35,477.21 | 1,773.73 | 5.00 |
| Total | 7,776,632.54 | 2,515,818.56 | 32.35 |
(d)Changesinprovisionforbaddebts
| Items | PhaseI | PhaseII | PhaseIII | Total |
| 12?monthexpectedcreditlosses | Lifetimeexpectedcreditlosses(creditnotimpaired) | Lifetimeexpectedcreditlosses(creditimpaired) | ||
| Openingbalance | 2,515,818.56 | 49,838,895.16 | 52,354,713.72 | |
| Openingbalanceincurrentperiod | -2,352,086.07 | 2,352,086.07 | ||
| --TransferredtophaseII | NA | NA | ||
| --TransferredtophaseIII | -2,352,086.07 | 2,352,086.07 | ||
| --ReversedtophaseII | NA | NA |
| Items | PhaseI | PhaseII | PhaseIII | Total |
| 12?monthexpectedcreditlosses | Lifetimeexpectedcreditlosses(creditnotimpaired) | Lifetimeexpectedcreditlosses(creditimpaired) | ||
| --ReversedtophaseI | NA | |||
| Provisionmadeincurrentperiod | -54,132.39 | -44,236.71 | -98,369.10 | |
| Provisionrecoveredincurrentperiod | 493,295.33 | 493,295.33 | ||
| Provisionreversedincurrentperiod | ||||
| Provisionwritten-offincurrentperiod | ||||
| Otherchanges | ||||
| Closingbalance | 109,600.10 | 51,653,449.19 | 51,763,049.29 |
(e)Detailsofthetop5debtorswithlargestbalances
| Debtors | Natureofreceivables | Bookbalance | Ages | Proportiontothetotalbalanceofotherreceivables(%) | Provisionforbaddebts |
| ZhongqiSouthChinaAutomobileSalesCo.,Ltd. | Currentaccount | 9,832,956.37 | Over3years | 17.44 | 9,832,956.37 |
| ShenzhenNanfangIndustryandTradeCo.,Ltd. | Currentaccount | 7,359,060.75 | Over3years | 13.05 | 7,359,060.75 |
| ShenzhenZhonghao(Group)Co.,Ltd. | Currentaccount | 5,000,000.00 | Over3years | 8.87 | 5,000,000.00 |
| Debtors | Natureofreceivables | Bookbalance | Ages | Proportiontothetotalbalanceofotherreceivables(%) | Provisionforbaddebts |
| 深圳凯丰特种汽车工业有限公司(ShenzhenKaifengSpecialAutomobileIndustryCo.,Ltd.*) | Currentaccount | 4,413,728.50 | Over3years | 7.83 | 4,413,728.50 |
| JinbeiliHouseholdAppliancesCo.,Ltd. | Currentaccount | 2,706,983.51 | Over3years | 4.80 | 2,706,983.51 |
| Total | 29,312,729.13 | 51.99 | 29,312,729.13 |
5.6Inventories
(1)Details
| Items | Closingbalance | Openingbalance | ||||
| Bookbalance | Provisionforwrite-down | Carryingamount | Bookbalance | Provisionforwrite-down | Carryingamount | |
| Rawmaterials | 15,481,888.98 | 14,772,382.17 | 709,506.81 | 15,079,409.32 | 14,772,382.17 | 307,027.15 |
| Goodsonhand | 35,515,473.74 | 14,145,300.62 | 21,370,173.12 | 35,204,057.35 | 14,121,481.67 | 21,082,575.68 |
| Goodsonconsignment-in | 6,307,872.38 | 6,307,872.38 | ||||
| Goodsonconsignment-insold | -6,307,872.38 | -6,307,872.38 | ||||
| Total | 50,997,362.72 | 28,917,682.79 | 22,079,679.93 | 50,283,466.67 | 28,893,863.84 | 21,389,602.83 |
(2)Provisionforinventorywrite-down
| Items | Openingbalance | Increase | Decrease | Closingbalance |
| Provision | Others | Reversalorwritten-off | Others | |||
| Rawmaterials | 14,772,382.17 | 14,772,382.17 | ||||
| Goodsonhand | 14,121,481.67 | 23,818.95 | 14,145,300.62 | |||
| Subtotal | 28,893,863.84 | 23,818.95 | 28,917,682.79 |
(3)Theclosingbalanceofinventorycontainsastatementofborrowingexpensescapitalization:
Asof2020-12-31,theclosingbalanceofinventorydonotcontainthecapitalizationofborrowingexpenses.
(4)Goodsonconsignment-in:soldbyShenzhenjewelrycompany.
5.7OtherCurrentAssets
| Items | Closingbalance | Openingbalance[Note] |
| InputVATtobecredited | 6,000,566.69 | 3,403,969.23 |
| Total | 6,000,566.69 | 3,403,969.23 |
Theclosingbalanceofothercurrentassetsincreasedby76.28%comparedwiththeopeningbalance,mainlyduetotheincreaseofVATtobedeductedby“Baokusupplychaincompany”and“Shenzhenjewelrycompany”.
5.8Long-termreceivables
(1)Detailsoflong-termreceivables
| Items | 31Dec2020 | 31Dec2019 | Discountraterange | ||||
| Bookbalance | Provisionforbaddebts | Carryingamount | Bookbalance | Provisionforbaddebts | Carryingamount | ||
| Relatedtransactions | 2,179,203.68 | 2,179,203.68 | 2,179,203.68 | 2,179,203.68 | |||
| Total | 2,179,203.68 | 2,179,203.68 | 2,179,203.68 | 2,179,203.68 | |||
(2)Changesinprovisionforbaddebts
(a)AsofDecember31,2020,theprovisionforbaddebtsshallbemadeaccordingtothefollowingthreestages:
| Stage | Bookbalance | Provisionforbaddebts | Carryingaccounts |
| Stage3 | 2,179,203.68 | 2,179,203.68 |
| Stage | Bookbalance | Provisionforbaddebts | Carryingaccounts |
| Total | 2,179,203.68 | 2,179,203.68 |
AsofDecember31,2020,theprovisionforbaddebtsoflong-termreceivablesinthethirdstageisasfollows:
| Category | Bookbalance | Provisionrate（%） | Provisionforbaddebts | Carryingaccounts | Reason |
| Provisionforbaddebtsbysingleitem | 2,179,203.68 | 100.00 | 2,179,203.68 | Riskincreasedafteroriginallyrecognized | |
| Total | 2,179,203.68 | 100.00 | 2,179,203.68 |
(b)AsofDecember31,2019,theprovisionforbaddebtsiscalculatedanddrawnaccordingtothethirdstagemodelasfollows:
| Stage | Bookbalance | Provisionforbaddebts | Carryingaccounts |
| Stage3 | 2,179,203.68 | 2,179,203.68 | |
| Total | 2,179,203.68 | 2,179,203.68 |
OnDecember31,2019,theprovisionforbaddebtsoflong-termreceivablesinthethirdstageisasfollows:
| Category | Bookbalance | Provisionrate（%） | Provisionforbaddebts | Carryingaccounts | Reason |
| Provisionforbaddebtsbysingleitem | 2,179,203.68 | 100.00 | 2,179,203.68 | Riskincreasedafteroriginallyrecognized | |
| Total | 2,179,203.68 | 100.00 | 2,179,203.68 |
（3）Changesonprovisionforbaddebts
| Provisionforbaddebts | Stage1 | Stage2 | Stage3 | Total |
| Expectedcreditlossinthenext12months | Expectedcreditlossforthewholelife(nocreditimpairment) | Expectedcreditlossforthewholelife(creditimpairmentoccurred) | ||
| Balanceon1Jan2020 | 2,179,203.68 | 2,179,203.68 | ||
| Balanceon1Jan2020inthecurrentperiod | — | — | — | — |
| --turnintostage2 | NA | NA | ||
| --turnintostage3 | NA |
| Provisionforbaddebts | Stage1 | Stage2 | Stage3 | Total |
| Expectedcreditlossinthenext12months | Expectedcreditlossforthewholelife(nocreditimpairment) | Expectedcreditlossforthewholelife(creditimpairmentoccurred) | ||
| --turnbacktostage2 | NA | NA | ||
| --turnbacktostage1 | NA | |||
| Accruedincurrentperiod | ||||
| Reversalincurrentperiod | ||||
| Currentwriteoff | ||||
| Writeoffincurrentperiod | ||||
| Otherchanges | ||||
| Balanceon31Dec2020 | 2,179,203.68 | 2,179,203.68 |
5.9.Long-termequityinvestments
(1)Categories
| Items | Closingbalance | Openingbalance | ||||
| Bookbalance | Provisionforimpairment | Carryingamount | Bookbalance | Provisionforimpairment | Carryingamount | |
| Investmentsinassociates | 87,921,195.60 | 14,644,406.04 | 73,276,789.56 | 94,822,114.42 | 14,644,406.04 | 80,177,708.38 |
| Investmentsinjointventures | 50,364,166.01 | 50,364,166.01 | 82,000,835.67 | 82,000,835.67 | ||
| Otherequityinvestments | 8,656,000.00 | 8,656,000.00 | 8,656,000.00 | 8,656,000.00 | ||
| Total | 146,941,361.61 | 23,300,406.04 | 123,640,955.57 | 185,478,950.09 | 23,300,406.04 | 162,178,544.05 |
(2)Details
| Investees | Openingbalance | Increase/Decrease |
| Investmentsincreased | Investmentsdecreased | Investmentincomerecognizedunderequitymethod | Adjustmentinothercomprehensiveincome | ||
| Jointventures | |||||
| 深圳特力吉盟投资有限公司(ShenzhenTellusJimengInvestmentCo.,Ltd.*) | 70,155,383.50 | 35,000,000.00 | 10,511,357.63 | ||
| 深圳市特力行投资有限公司(ShenzhenTellusXingInvestmentCo.,Ltd.*) | 11,845,452.17 | 851,972.71 | |||
| Subtotal | 82,000,835.67 | 35,000,000.00 | 11,363,330.34 | ||
| Associates | |||||
| 深圳市仁孚特力汽车服务有限公司(ShenzhenRenfuTellusAutomobilesServiceCo.,Ltd.*) | 33,313,732.20 | 10,793,413.94 | |||
| 深圳市汽车工业进出口有限公司(ShenzhenAutomobileIndustryImportandExportCo.,Ltd.*) | 2,026,407.98 | -1,031,137.65 | |||
| ShenzhenDongfengAutomobileCo.,Ltd. | 44,837,568.20 | -6,163,195.11 | |||
| 深圳市新永通油泵环保有限公司(ShenzhenXinyongtongOilPumpandEnvironmentalProtectionCo.,Ltd.*) | |||||
| 深圳市新永通咨询有限公司(ShenzhenXinyongtongConsultingCo.,Ltd.*) |
*
TheEnglishnamesareforidentificationpurposeonly.
| Investees | Openingbalance | Increase/Decrease | |||
| Investmentsincreased | Investmentsdecreased | Investmentincomerecognizedunderequitymethod | Adjustmentinothercomprehensiveincome | ||
| 深圳特力汽车服务连锁有限公司(ShenzhenTellusAutomobileServicesChainCo.,Ltd.*)[Note3] | |||||
| 深圳市新永通汽车服务有限公司(ShenzhenXinyongtongAutomobileServiceCo.,Ltd.*)[Note3] | |||||
| 深圳市新永通东晓汽车服务有限公司(ShenzhenXinyongtongDongxiaoAutomobileServiceCo.,Ltd.*)[Note3] | |||||
| 深圳市永通信达检测设备有限责任公司(ShenzhenYongtongXindaInspectionEquipmentCo.,Ltd.*)[Note3] | |||||
| 湖南昌阳实业股份有限公司(HunanChangyangIndustrialCo.,Ltd.*)[Note1] | |||||
| 深圳捷成电子有限公司(ShenzhenJiechengElectronicCo.,Ltd.*)[Note1] | |||||
| 深圳先导新材料有限公司(ShenzhenXiandaoNewMaterialsCo.,Ltd.*)[Note1] | |||||
| 中国汽车工业深圳贸易公司(ChinaAutomobileShenzhen | |||||
| Investees | Openingbalance | Increase/Decrease | |||
| Investmentsincreased | Investmentsdecreased | Investmentincomerecognizedunderequitymethod | Adjustmentinothercomprehensiveincome | ||
| TradingCo.,Ltd.*)[Note1] | |||||
| 深圳通用标准件有限公司(ShenzhenGeneralStandardPartsCo.,Ltd.*)[Note1] | |||||
| ZhongqiSouthChinaAutomobileSalesCo.,Ltd.[Note1] | |||||
| 深圳百力源电源有限公司(ShenzhenBailiyuanPowerCo.,Ltd.*)[Note1] | |||||
| 深圳市益民汽车贸易公司(ShenzhenYiminAutomobileTradingCo.,Ltd.*)[Note1] | |||||
| 深圳火炬火花塞工业公司(ShenzhenTorchSparkPlugIndustrialCo.,Ltd.*) | |||||
| Subtotal | 80,177,708.38 | 3,599,081.18 | |||
| 深圳汉力高技术陶瓷有限公司(ShenzhenHanecoTechnologiesCeramicsCo.,Ltd.*)[Note2] | |||||
| 深圳市南方汽车维修中心(NanfangAutomobileRepairingCenter*)[Note2] | |||||
| Subtotal | |||||
| Total | 162,178,544.05 | 35,000,000.00 | 14,962,411.52 | ||
(Continued)
| Investees | Increase/Decrease | Closingbalance | Closingbalanceofprovisionforimpairment |
*
TheEnglishnamesareforidentificationpurposeonly.
| Changesinotherequity | Cashdividend/profitdeclaredfordistribution | Provisionforimpairment | Others | |||
| Jointventures | ||||||
| ShenzhenTellusJimengInvestmentCo.,Ltd. | 8,000,000.00 | 37,666,741.13 | ||||
| ShenzhenTellusXingInvestmentCo.,Ltd. | 12,697,424.88 | |||||
| Subtotal | 8,000,000.00 | 50,364,166.01 | ||||
| Associates | ||||||
| ShenzhenRenfuTellusAutomobilesServiceCo.,Ltd. | 10,500,000.0 | 33,607,146.14 | ||||
| ShenzhenAutomobileIndustryImportandExportCo.,Ltd. | 995,270.33 | |||||
| ShenzhenDongfengAutomobileCo.,Ltd. | 38,674,373.09 | |||||
| ShenzhenXinyongtongOilPumpandEnvironmentalProtectionCo.,Ltd. | 127,836.59 | |||||
| ShenzhenXinyongtongConsultingCo.,Ltd. | 41,556.83 | |||||
| ShenzhenTellusAutomobileServicesChainCo.,Ltd.[Note3] | ||||||
| ShenzhenXinyongtongAutomobileServiceCo.,Ltd.[Note3] | ||||||
| ShenzhenXinyongtongDongxiaoAutomobileServiceCo.,Ltd.[Note3] |
| Investees | Increase/Decrease | Closingbalance | Closingbalanceofprovisionforimpairment | |||
| Changesinotherequity | Cashdividend/profitdeclaredfordistribution | Provisionforimpairment | Others | |||
| ShenzhenYongtongXindaInspectionEquipmentCo.,Ltd.[Note3] | ||||||
| HunanChangyangIndustrialCo.,Ltd.[Note1] | 1,810,540.70 | |||||
| ShenzhenJiechengElectronicCo.,Ltd.[Note1] | 3,225,000.00 | |||||
| ShenzhenXiandaoNewMaterialsCo.,Ltd.[Note1] | 4,751,621.62 | |||||
| ChinaAutomobileShenzhenTradingCo.,Ltd.[Note1] | 400,000.00 | |||||
| ShenzhenGeneralStandardPartsCo.,Ltd.[Note1] | 500,000.00 | |||||
| ZhongqiSouthChinaAutomobileSalesCo.,Ltd.[Note1] | 2,250,000.00 | |||||
| ShenzhenBailiyuanPowerCo.,Ltd.[Note1] | 1,320,000.00 | |||||
| ShenzhenYiminAutomobileTradingCo.,Ltd.[Note1] | 200,001.10 | |||||
| ShenzhenTorchSparkPlugIndustrialCo.,Ltd. | 17,849.20 | |||||
| Subtotal | 10,500,000.00 | 73,276,789.56 | 14,644,406.04 | |||
| ShenzhenHaneco | 1,956,000.00 | |||||
| Investees | Increase/Decrease | Closingbalance | Closingbalanceofprovisionforimpairment | |||
| Changesinotherequity | Cashdividend/profitdeclaredfordistribution | Provisionforimpairment | Others | |||
| TechnologiesCeramicsCo.,Ltd.[Note2] | ||||||
| ShenzhenNanfangAutomobileRepairingCenter[Note2] | 6,700,000.00 | |||||
| Subtotal | 8,656,000.00 | |||||
| Total | 18,500,000.00 | 123,640,955.57 | 23,300,406.04 | |||
Note1:Industrialandcommercialregistrationofthesecompanieshasbeenrevoked,andtheCompanyhasmadefullprovisionforimpairmentfortheselong-termequityinvestments.Note2:TheoperatingperiodofShenzhenHanecoTechnologiesCeramicsCo.,Ltd.ranfromSeptember21,1993toSeptember21,1998.TheoperatingperiodofShenzhenNanfangAutomobileRepairingCenterranfromJuly12,1994toJuly11,2002.Thesecompanieshaveceasedoperationformanyyearsandtheirindustrialandcommercialregistrationhasbeenrevokedbecausetheydidnotparticipateintheannualindustrialandcommercialinspection.TheCompanyisunabletoexerciseeffectivecontroloverthesecompanies.Therefore,theyarenotincludedintheconsolidatedscopeoftheCompany’sconsolidatedfinancialstatements.ThecarryingamountoftheCompany’sinvestmentinthesecompaniesiszero.Note3:Thebookbalancesoftheselong-termequityinvestmentshavebeenadjustedto0yuanthroughtherecognitionofprofitandlossadjustmentsunderequitymethod.Note4:Theequityofthecompanyheldbyushasbeentransferredinthecurrentperiod.Note5:Wehold51%oftheequityoftheCompany.Accordingtothearticlesofassociationofthecompany,therightsofvotingandnominateddirectorscannotbeunilaterallydecidedontherelevantdecisionsbythecompany'sshareholders'meetingandtheboardofdirectors,andwedonotcontrolthecompany.
5.10Otherequityinstrumentinvestments
（
）Detailsofotherequityinstrumentinvestments
| Items | 31Dec2020 | 31Dec2019 |
| Items | 31Dec2020 | 31Dec2019 |
| Publicequityinstrumentinvestment | ||
| Non-publicequityinstrumentinvestment | 10,176,617.20 | 10,176,617.20 |
| Total | 10,176,617.20 | 10,176,617.20 |
(2)Detailsofnon-held-for-tradingequityinstrumentinvestments
| Items | Dividendincomerecognizedinthecurrentperiod | Accumulatedprofits | Accumulatedloss | Amountofothercomprehensiveincometransferredtoretainedearnings | Reasonsdesignatedasfairvaluemeasurementwithchangesincludedinothercomprehensiveincome | Reasonsfortransferringothercomprehensiveincomeintoretainedearnings |
| ChinaPerfectMachineryIndustryCorp.,Ltd. | Strategicinvestmentexpectedtobeheldforalongtime |
5.11Investmentproperty
(1)Investmentrealestatewithcostmeasurementmodel
| Items | Buildingsandstructures | Landuseright | Total |
| Cost | |||
| Openingbalance | 614,240,458.56 | 49,079,520.00 | 663,319,978.56 |
| Increase | 37,438,357.93 | 37,438,357.93 | |
| 1)Transferredinfromconstructioninprogress | 37,438,357.93 | 37,438,357.93 | |
| Decrease | 12,443,191.04 | 12,443,191.04 | |
| 1)Disposal | 12,443,191.04 | 12,443,191.04 | |
| Closingbalance | 639,235,625.45 | 49,079,520.00 | 688,315,145.45 |
| Accumulateddepreciationand |
| Items | Buildingsandstructures | Landuseright | Total |
| amortization | |||
| Openingbalance | 107,605,031.33 | 1,115,443.68 | 108,720,475.01 |
| Increase | 17,906,594.06 | 1,115,443.68 | 19,022,037.74 |
| 1)Accrual | 17,906,594.06 | 1,115,443.68 | 19,022,037.74 |
| Decrease | 7,673,983.43 | 7,673,983.43 | |
| 1)Disposal | 7,673,983.43 | 7,673,983.43 | |
| Closingbalance | 117,837,641.96 | 2,230,887.36 | 120,068,529.32 |
| Provisionforimpairment | |||
| Carryingamount | |||
| Closingbalance | 521,397,983.49 | 46,848,632.64 | 568,246,616.13 |
| Openingbalance | 506,635,427.23 | 47,964,076.32 | 554,599,503.55 |
(2)Investmentpropertywithcertificateoftitlesbeingunsettled
| Items | Carryingamount | Reasonsforunsettlement |
| 水贝珠宝大厦一期（房屋及建筑物）(ShuibeiJewelryBuildingPhaseI(Buildingsandstructures)) | 412,443,066.95 | Theprojecthasnotbeensettled. |
| 笋岗12栋(Building12,Sungang) | 15,040.85 | Duetohistoricalreasons,certificateoftitleshasnotbeenappliedfor. |
| 笋岗12栋商铺(Building12stores,Sungang) | 46,793.43 | Duetohistoricalreasons,certificateoftitleshasnotbeenappliedfor. |
| Subtotal | 412,504,901.23 |
5.12Fixedassets
（1）Detailsbycategory
| Items | 31Dec2020 | 31Dec2019 |
| Fixedassets | 119,136,917.91 | 107,119,796.59 |
| Liquidationoffixedassets | ||
| Total | 119,136,917.91 | 107,119,796.59 |
(2)Fixedassets
(a)Detailsoffixedassets
| Items | Buildingsandstructures | Generalequipment | Transportfacilities | Electronicequipment | Officeandotherequipment | Total |
| Cost | ||||||
| Openingbalance | 268,959,874.26 | 11,370,001.49 | 5,187,935.34 | 9,732,341.99 | 3,030,248.40 | 298,280,401.48 |
| Increase | 12,443,191.04 | 11,186,927.89 | 219,281.00 | 1,278,771.32 | 3,709,362.43 | 28,837,533.68 |
| 1)Acquisition | 11,186,927.89 | 219,281.00 | 1,278,771.32 | 3,709,362.43 | 16,394,342.64 | |
| 2)Investmentpropertytransfer | 12,443,191.04 | 12,443,191.04 | ||||
| Decrease | 272,894.67 | 230,000.00 | 110,066.13 | 20,528.99 | 633,489.79 | |
| 1)Disposal/scrap | 272,894.67 | 230,000.00 | 110,066.13 | 20,528.99 | 633,489.79 | |
| Closingbalance | 281,403,065.30 | 22,284,034.71 | 5,177,216.34 | 10,901,047.18 | 6,719,081.84 | 326,484,445.37 |
| Accumulateddepreciation | ||||||
| Openingbalance | 166,475,800.36 | 8,364,746.10 | 3,201,785.74 | 6,873,351.21 | 1,999,468.42 | 186,915,151.83 |
| Increase | 14,775,455.46 | 442,617.47 | 431,742.26 | 809,244.24 | 264,009.74 | 16,723,069.17 |
| 1)Accrual | 7,101,472.03 | 442,617.47 | 431,742.26 | 809,244.24 | 264,009.74 | 9,049,085.74 |
| 2)Investmentpropertytransfer | 7,673,983.43 | 7,673,983.43 | ||||
| Decrease | 245,605.22 | 207,000.00 | 81,354.82 | 2,186.56 | 536,146.60 | |
| 1)Disposal/scrap | 245,605.22 | 207,000.00 | 81,354.82 | 2,186.56 | 536,146.60 | |
| Closingbalance | 181,251,255.82 | 8,561,758.35 | 3,426,528.00 | 7,601,240.63 | 2,261,291.60 | 203,102,074.40 |
| Provisionforimpairment | ||||||
| Openingbalance | 3,836,768.43 | 319,675.11 | 6,165.00 | 17,984.71 | 64,859.81 | 4,245,453.06 |
| Increase |
| Items | Buildingsandstructures | Generalequipment | Transportfacilities | Electronicequipment | Officeandotherequipment | Total |
| 1)Accrual | ||||||
| Decrease | ||||||
| 1)Disposal/scrap | ||||||
| Closingbalance | 3,836,768.43 | 319,675.11 | 6,165.00 | 17,984.71 | 64,859.81 | 4,245,453.06 |
| Carryingamount | ||||||
| Closingbalance | 96,315,041.05 | 13,402,601.25 | 1,744,523.34 | 3,281,821.84 | 4,392,930.43 | 119,136,917.91 |
| Openingbalance | 98,647,305.47 | 2,685,580.28 | 1,979,984.60 | 2,841,006.07 | 965,920.17 | 107,119,796.59 |
(b)Fixedassetsrented-outunderoperatingleases
| Items | Carryingamount |
| Buildingsandstructures | 70,237,123.25 |
| Subtotal | 70,237,123.25 |
(c)Fixedassetswithcertificateoftitlesbeingunsettled
| Items | Carryingamount | Reasonsforunsettlement |
| YongtongBuilding | 31,023,972.67 | Duetohistoricalreasons,certificateoftitleshasnotbeenappliedfor. |
| AutomobileBuilding | 15,560,410.09 | Duetohistoricalreasons,certificateoftitleshasnotbeenappliedfor. |
| TellusBuildingundergroundparkinglot | 8,991,413.36 | Unabletoapplyforcertificateoftitlesforparkinglot |
| ZhongheOfficeBuilding | 4,645,064.13 | Duetohistoricalreasons,certificateoftitleshasnotbeenappliedfor. |
| Third–FifthfloorofPlant1,Plant2,andPlant3onTaoyuanRoad | 3,522,418.75 | Duetohistoricalreasons,certificateoftitleshasnotbeenappliedfor. |
| TellusBuildingtransferstory | 1,538,482.04 | Unabletoapplyforcertificateoftitles |
| Building16ofTaohuaYuan | 1,374,667.14 | Duetohistoricalreasons,certificateoftitleshasnotbeenappliedfor. |
| Items | Carryingamount | Reasonsforunsettlement |
| ShuibeiZhongtianComplexBuilding | 889,629.30 | Duetohistoricalreasons,certificateoftitleshasnotbeenappliedfor. |
| FirstfloorofcommercialandresidentialbuildinginBao’an | 885,412.77 | Duetohistoricalreasons,certificateoftitleshasnotbeenappliedfor. |
| Warehouse | 839,327.89 | Duetohistoricalreasons,certificateoftitleshasnotbeenappliedfor. |
| Warehouseoftradedepartment | 71,133.73 | Duetohistoricalreasons,certificateoftitleshasnotbeenappliedfor. |
| SongquanApartment(Mix) | 10,086.79 | Duetohistoricalreasons,certificateoftitleshasnotbeenappliedfor. |
| HostelonNorthRenminRoad | 5,902.41 | Duetohistoricalreasons,certificateoftitleshasnotbeenappliedfor. |
| Subtotal | 69,357,921.07 |
5.13Constructioninprogress（
）Detailsbycategory
| Projects | 31Dec2020 | 31Dec2019 |
| Constructioninprogress | 101,740,485.48 | 47,654,393.55 |
| Engineermaterials | ||
| Total | 101,740,485.48 | 47,654,393.55 |
Theconstructioninprogressattheendoftheperiodincreasedby113.50%comparedwiththatatthebeginningoftheperiod,mainlyduetotheincreaseinconstructioninvestmentofTellusDiamondTradingbuilding.
（2）Constructioninprogress(a)details
| Projects | 31Dec2020 | 31Dec2019 | ||||
| Bookbalance | Provisionforimpairment | Carryingamount | Bookbalance | Provisionforimpairment | Carryingamount | |
| Projects | 31Dec2020 | 31Dec2019 | ||||
| Bookbalance | Provisionforimpairment | Carryingamount | Bookbalance | Provisionforimpairment | Carryingamount | |
| 特力金钻交易大厦(TeliDiamondTradingBuilding) | 100,252,309.72 | 100,252,309.72 | 35,321,704.26 | 35,321,704.26 | ||
| 特力水贝珠宝大厦地下连通工程(Undergroundconnectionprojectoftelishuibeijewelrybuilding) | 3,710,247.00 | 3,710,247.00 | ||||
| 421厂房改造升级项目(421plantrenovationandupgradingproject) | 8,593,316.07 | 8,593,316.07 | ||||
| 宝库项目(Treasurehouseproject) | 29,126.22 | 29,126.22 | ||||
| 05地块(Plot05) | 1,391,331.44 | 1,391,331.44 | ||||
| 其他工程(Otherconstruction) | 96,844.32 | 96,844.32 | ||||
| Total | 101,740,485.48 | 101,740,485.48 | 47,654,393.55 | 47,654,393.55 | ||
(b)changesonsignificantconstructioninprogress
| Projects | Budgets | Openingbalance | Increase | Transferredtofixedassets | Otherdecrease | Closingbalance |
| 特力金钻交易大厦(TeliDiamondTradingBuilding) | 515,460,000 | 35,321,704.26 | 64,930,605.46 | 100,252,309.72 | ||
| 特力水贝珠宝大厦地下连通工程(Underground | 13,330,000 | 3,710,247.00 | 9,620,961.88 | 13,331,208.88 |
| Projects | Budgets | Openingbalance | Increase | Transferredtofixedassets | Otherdecrease | Closingbalance |
| connectionprojectoftelishuibeijewelrybuilding) | ||||||
| 421厂房改造升级项目(421plantrenovationandupgradingproject) | 29,910,000 | 8,593,316.07 | 15,513,832.98 | 24,107,149.05 | ||
| Total | 47,625,267.33 | 90,065,400.32 | 37,438,357.93 | 100,252,309.72 |
（Continued）
| Projects | Accumulatedinvestmenttobudget(%) | Completionpercentage(%) | Accumulatedamountofborrowingcostcapitalization | Amountofborrowingcostcapitalizationincurrentperiod | Annualcapitalizationrate(%) | Fundsource |
| 特力金钻交易大厦(TeliDiamondTradingBuilding) | 19.45 | 19.45 | Self-ownedfund/Bankloan | |||
| 特力水贝珠宝大厦地下连通工程(Undergroundconnectionprojectoftelishuibeijewelrybuilding) | 100.00 | 100 | Self-ownedfund | |||
| 421厂房改造升级项目(421plantrenovationandupgradingproject) | 100.00 | 100 | Self-ownedfund | |||
| Total |
5.14Intangibleassets
(1)Detailsonintangibleassets
| Items | Landuseright | Trademarks | Software | Total |
| Cost | ||||
| Openingbalance | 50,661,450.00 | 128,500.00 | 1,582,145.00 | 52,372,095.00 |
| Increase | 2,575,109.20 | 2,575,109.20 | ||
| 1)Acquisition | 2,575,109.20 | 2,575,109.20 | ||
| Decrease | ||||
| 1)Transferredtoinvestmentproperty | ||||
| Closingbalance | 50,661,450.00 | 128,500.00 | 4,157,254.20 | 54,947,204.20 |
| Accumulatedamortization | ||||
| Openingbalance | 713,015.84 | 89,622.68 | 1,008,230.81 | 1,810,869.33 |
| Increase | 1,077,443.16 | 5,349.96 | 425,868.54 | 1,508,661.66 |
| 1)Accrual | 1,077,443.16 | 5,349.96 | 425,868.54 | 1,508,661.66 |
| Decrease | ||||
| 1)Transferredtoinvestmentproperty | ||||
| Closingbalance | 1,790,459.00 | 94,972.64 | 1,434,099.35 | 3,319,530.99 |
| Provisionforimpairment | ||||
| Carryingamount | ||||
| Closingbalance | 48,870,991.00 | 33,527.36 | 2,723,154.85 | 51,627,673.21 |
| Openingbalance | 49,948,434.16 | 38,877.32 | 573,914.19 | 50,561,225.67 |
(2)AsofDecember31,2020,thelanduserightwithbookvalueofCNY48,870,991.00ofthecompanyhasbeenmortgagedtoBankofChinaasthemortgageofbankloan.
5.15Deferredcharges
| Items | Openingbalance | Increase | Amortization | Otherdecreases | Closingbalance |
| Decorationcosts | 13,606,805.49 | 20,603,423.42 | 3,169,898.43 | 325,451.26 | 30,714,879.22 |
| Total | 13,606,805.49 | 20,603,423.42 | 3,169,898.43 | 325,451.26 | 30,714,879.22 |
5.16Deferredtaxassets
(1)Deferredtaxassetsbeforeoffset
| Items | Closingbalance | Openingbalance | ||
| Deductibletemporarydifference | Deferredtaxasset | Deductibletemporarydifference | Deferredtaxasset | |
| Provisionforcreditimpairment | 33,995,288.38 | 8,498,822.10 | 34,635,849.55 | 8,658,962.39 |
| Total | 33,995,288.38 | 8,498,822.10 | 34,635,849.55 | 8,658,962.39 |
(2)Detailsofunrecognizeddeferredtaxassets
| Items | Closingbalance | Openingbalance |
| Deductibletemporarydifference | 126,380,054.13 | 127,244,422.02 |
| Deductiblelosses | 27,588,656.95 | 19,619,056.75 |
| Subtotal | 153,968,711.08 | 146,863,478.77 |
(3)Maturityyearsofdeductiblelossesofunrecognizeddeferredtaxassets
| Maturityyears | Closingbalance | Openingbalance | Remarks |
| Year2020 | 505,851.30 | ||
| Year2021 | 513,356.86 | 1,484,364.61 | |
| Year2022 | 4,702,701.91 | 4,702,701.91 | |
| Year2023 | 5,238,151.51 | 5,499,309.62 | |
| Year2024 | 7,380,279.17 | 7,426,829.31 | |
| Year2025 | 9,754,167.50 | ||
| Subtotal | 27,588,656.95 | 19,619,056.75 |
5.17Othernon-currentassets
| Items | 31Dec2020 | 31Dec2019 |
| Prepaymentforengineeringequipment | 49,478,268.29 | 6,789,167.54 |
| VATinputtaxtobecertified | 6,415,199.70 | |
| Others | 100,000.00 | 100,000.00 |
| Total | 55,993,467.99 | 6,889,167.54 |
Othernoncurrentassetsattheendoftheperiodincreasedby712.78%comparedwiththatatthebeginningoftheperiod,mainlyduetothepaymentofCNY46,757,600.00forthebundlingconstructionofpublicfacilitiesinproject02and03oftheupgradingandreconstructionprojectofTaliJimenggoldjewelryindustrialpark.
5.18Accountspayable
(1)Detailsbynature
| Items | Closingbalance | Openingbalance |
| Paymentforgoodsandservices | 5,130,983.91 | 5,671,144.03 |
| Paymentforengineeringequipment | 71,452,182.62 | 63,416,286.39 |
| Total | 76,583,166.53 | 69,087,430.42 |
(2)Significantaccountspayablewithageoveroneyear
| Items | Closingbalance | Reasonsforunsettlement |
| 深圳市英龙建安（集团）有限公司 | 29,695,887.90 | Theprojecthasnot |
| Items | Closingbalance | Reasonsforunsettlement |
| (ShenzhenYinglongJian’an(Group)Co.,Ltd.?) | beensettled. | |
| 深圳市特发地产有限公司(ShenzhenSDGRealEstateCo.,Ltd.*) | 6,054,855.46 | Norepaymentfromrelatedcompany. |
| 深圳市易诺建设工程有限公司(ShenzhenYinuoConstructionEngineeringCo.,Ltd.*) | 4,274,022.22 | Theprojecthasnotbeensettled. |
| 深圳瑞和建筑装饰股份有限公司(ShenzhenRuiheConstructionDecorationCo.,Ltd.*) | 3,621,859.50 | Theprojecthasnotbeensettled. |
| Subtotal | 43,646,625.08 |
5.19Advancefromcustomers
| Items | Closingbalance | Openingbalance |
| Rentfee | 2,403,580.47 | 491,560.38 |
| Loan | 26,808,262.33 | |
| Total | 2,403,580.47 | 27,299,822.71 |
Theclosingadvancesreceiveddecreasedby91.20%comparedwiththeopeningadvancesreceived,mainlyduetothefactthatsinceJanuary1,2020,theCompanyclassifiedtheadvancepaymentreceivedfromthesaleofgoodsandservicesascontractliabilitiesandothercurrentliabilitiesaccordingtothenewrevenuecriteria.
5.20ContractLiability
| Items | Closingbalance | Openingbalance |
| Itemreceivedinadvanceforgoods | 17,833,476.50 | |
| Itemreceivedinadvanceforservices | 1,155,151.63 | |
| Total | 18,988,628.13 |
5.21Employeebenefitspayable
(1)Employeebenefitspayable
| Items | Openingbalance | Increase | Decrease | Closingbalance |
| Short-termemployeebenefits | 30,503,178.16 | 55,756,280.37 | 57,893,773.32 | 28,365,685.21 |
?
TheEnglishnamesareforidentificationpurposeonly.
| Items | Openingbalance | Increase | Decrease | Closingbalance |
| Post-employmentbenefits-definedcontributionplan | 701,616.73 | 390,770.27 | 1,092,387.00 | |
| Terminationbenefits | 1,406,957.63 | 1,406,957.63 | ||
| Total | 31,204,794.89 | 57,554,008.27 | 60,393,117.95 | 28,365,685.21 |
(2)Detailsofshort-termemployeebenefits
| Items | Openingbalance | Increase | Decrease | Closingbalance |
| Wage,bonus,allowanceandsubsidy | 28,178,495.98 | 49,966,130.85 | 49,993,755.23 | 28,150,871.60 |
| Employeewelfarefund | 1,059,812.71 | 1,059,812.71 | ||
| Socialinsurancepremium | 8,358.59 | 1,630,467.85 | 1,638,826.44 | |
| Including:Medicarepremium | 7,172.62 | 1,466,360.35 | 1,473,532.97 | |
| Occupationalinjuriespremium | 513.72 | 2,552.51 | 3,066.23 | |
| Maternitypremium | 672.25 | 161,554.99 | 162,227.24 | |
| Housingprovidentfund | 2,041,648.34 | 1,850,972.45 | 3,892,620.79 | |
| Tradeunionfundandemployeeeducationfund | 274,675.25 | 1,248,896.51 | 1,308,758.15 | 214,813.61 |
| Subtotal | 30,503,178.16 | 55,756,280.37 | 57,893,773.32 | 28,365,685.21 |
(3)Detailsofdefinedcontributionplan
| Items | Openingbalance | Increase | Decrease | Closingbalance |
| Basicendowmentinsurancepremium | 142,418.85 | 376,176.09 | 518,594.94 | |
| Unemploymentinsurancepremium | 1,352.03 | 14,594.18 | 15,946.21 | |
| Companyannuitypayment | 557,845.85 | 557,845.85 |
| Items | Openingbalance | Increase | Decrease | Closingbalance |
| Subtotal | 701,616.73 | 390,770.27 | 1,092,387.00 |
5.22Taxesandfeespayable
| Items | Closingbalance | Openingbalance |
| VAT | 1,003,221.74 | 551,626.76 |
| Enterpriseincometax | 13,891,223.58 | 64,461,051.35 |
| Individualincometaxwithheldfortaxauthorities | 281,053.06 | 342,986.08 |
| Urbanmaintenanceandconstructiontax | 79,176.17 | 134,816.64 |
| Landappreciationtax | 5,362,682.64 | 5,362,682.64 |
| Landusetax | 26,459.98 | 26,459.98 |
| Educationsurcharge | 43,391.83 | 82,529.27 |
| Localeducationsurcharge | 28,927.88 | 55,019.51 |
| Stampduty | 346,017.44 | 407,829.34 |
| Others | 266.04 | |
| Total | 21,062,154.32 | 71,425,267.61 |
Theclosingbalanceoftaxpayableshouldbereducedby70.51%comparedwiththeopeningbalanceoftaxpayable,mainlyduetothesettlementofenterpriseincometaxinthepreviousyear.
5.23Otherpayables
(1)Details
| Items | Closingbalance | Openingbalance |
| Interestpayable | ||
| Dividendpayable | 46,295.65 | |
| Otherpayable | 158,617,678.97 | 101,266,802.49 |
| Total | 158,663,974.62 | 101,266,802.49 |
Otheraccountspayableattheendoftheperiodincreasedby56.63%comparedwiththatatthebeginningoftheperiod,mainlydueto
thecompany'ssubsidiaryShenzhenJinluIndustrialandTradingCo.,Ltd.receivingtheperformancebondofCNY50,000,000.00paidbyHubeiHans’IndustryInvestmentGroupCo.,Ltd.,seeNote13.2Othersfordetails.
(2)Dividendpayables
| Items | 31Dec2020 | 31Dec2019 |
| Dividendsofcommonshares | 46,295.65 | |
| Total | 46,295.65 |
(3)Otherpayables
(a)Otherpayableslistedbynature
| Items | 31Dec2020 | 31Dec2019 |
| Depositassecurity | 37,603,031.07 | 29,630,854.41 |
| Currentaccountsbetweenrelatedparties | 76,457,197.82 | 28,310,337.10 |
| Accruals | 15,300,654.81 | 14,218,478.78 |
| Temporaryreceiptspayable | 29,256,795.27 | 29,107,132.20 |
| Total | 158,617,678.97 | 101,266,802.49 |
(b)Otherimportantaccountspayablewithanagingofmorethanoneyearattheendoftheperiod
| Items | 31Dec2020 | Reasonsfornonrepaymentorcarryforward |
| 深圳市特发集团有限公司(ShenzhenSDGGroupCo.,Ltd.*) | 17,429,247.94 | Norepaymentfromrelatedcompany |
| 香港裕嘉投资有限公司(HongKongYujiaInvestmentCo.,Ltd.*) | 2,172,091.54 | Norepaymentfromrelatedcompany |
| Total | 2,237,573.19 |
5.24OtherCurrentLiability
| Items | 31Dec2020 | 31Dec2019 |
| Items | 31Dec2020 | 31Dec2019 |
| OutputVATonpending | 2,237,573.19 | |
| Total | 2,237,573.19 |
OthercurrentliabilitiesattheendoftheperiodincreasedbyCNY2,237,573.19comparedwiththatatthebeginningoftheperiod,whichisduetothefactthatthecompanyclassifiedthevalue-addedtaxincludedintheadvancereceiptsfromsalesofgoodsandservicesastheoutputtaxtobetransferredasothercurrentliabilitiesaccordingtothenewincomestandardfromJanuary1,2020.
5.25Long-termborrowings
(1)Categoriesonlong-termborrowings
| Items | Closingbalance | Openingbalance |
| Mortgagedborrowings | 11,171,759.33 | |
| Less:Long-termborrowingsduewithin1year | ||
| Total | 11,171,759.33 |
(2)RemarksonCategoriesonlong-termborrowings
Thelong-termborrowingsattheendoftheperiodarethefixedassetsloanofthenewlyaddedTellusJinzuanTradingBuildinginthecurrentperiod,withaloantermof15years.
5.26Long-termpayables
| Items | Closingbalance | Openingbalance |
| Employeehousingdeposit | 3,908,848.40 | 3,908,848.40 |
| Appropriationfortechnicalinnovationproject | 11,311.96 | 11,311.96 |
| Total | 3,920,160.36 | 3,920,160.36 |
5.27Accruedliabilities
| Items | 31Dec2020 | 31Dec2019 | Reasonsforbalance |
| Pendinglawsuit | 268,414.80 | 2,225,468.76 | |
| Total | 268,414.80 | 2,225,468.76 |
Theestimatedliabilitiesattheendoftheperioddecreasedby87.94%comparedwiththatatthebeginningoftheperiod,mainlyduetotheadjustmentoftheestimatedliabilitiesinaccordancewiththedebtrepaymentamountdeterminedbythecourtforpendinglitigationinthisyear.
5.28Deferredincome
(1)Deferredincome
| Items | 31Dec2019 | Increase | Decrease | 31Dec2020 | Reasonsforbalance |
| Governmentgrants | 139,400.00 | 8,297.62 | 131,102.38 | Governmentgrantsrelatedtoassets | |
| Total | 139,400.00 | 8,297.62 | 131,102.38 |
(2)Detailsofgovernmentgrants
| Items | 31Dec2019 | Increase | Grantsincludedintoprofitorloss/offsettingrelevantcost | 31Dec2020 | Relatedtoassets/income |
| SubsidyfromFutianDistrictOldElevatorRenovationWorkingGroupforelevatorrenewal | 139,400.00 | 8,297.62 | 131,102.38 | Relatedtoassets | |
| Subtotal | 139,400.00 | 8,297.62 | 131,102.38 |
5.29Sharecapital
| Items | 31Dec2019 | Movements | 31Dec2020 | ||||
| Issueofnewshares | Bonusshares | Reservetransferredtoshares | Others | Subtotal | |||
| Totalshares | 431,058,320.00 | 431,058,320.00 | |||||
5.30Capitalreserves
| Items | 31Dec2019 | Increase | Decrease | 31Dec2020 |
| Capitalpremium(Sharepremium) | 425,768,053.35 | 425,768,053.35 |
| Items | 31Dec2019 | Increase | Decrease | 31Dec2020 |
| Othercapitalreserve | 5,681,501.16 | 5,681,501.16 | ||
| Total | 431,449,554.51 | 431,449,554.51 |
5.31Othercomprehensiveincome
| Items | Openingbalance | Currentperiodcumulative | 31Dec2020 | |||||
| Currentperiodcumulativebeforeincometax | Less:OCIcarriedforwardtransferredtoprofitorloss | Less:OCIcarriedforwardtransferredtoretainedearnings | Less:incometax | Attributabletoparentcompany | Attributabletonon-controllingshareholders | |||
| Itemstobereclassifiedsubsequentlytoprofitorloss | 26,422.00 | 26,422.00 | ||||||
| Including:Othercomprehensiveincometobetransferredtoprofitorlossunderequitymethod | 26,422.00 | 26,422.00 | ||||||
| Total | 26,422.00 | 26,422.00 | ||||||
5.32Surplusreserve
| Items | Openingbalance | Increase | Decrease | 31Dec2020 |
| Statutorysurplusreserve | 21,007,488.73 | 2,840,996.89 | 23,848,485.62 | |
| Total | 21,007,488.73 | 2,840,996.89 | 23,848,485.62 |
5.33Retainedearnings
| Items | Currentperiodcumulative | Precedingperiodcomparative |
| Balancebeforeadjustmentattheendofpreceding | 387,423,510.78 | 184,535,322.70 |
| Items | Currentperiodcumulative | Precedingperiodcomparative |
| period | ||
| Add:Increaseduetoadjustment(orless:decrease) | 1,079,805.36 | |
| Openingbalanceafteradjustment | 387,423,510.78 | 185,615,128.06 |
| Add:Netprofitattributabletoownersoftheparentcompany | 57,663,828.89 | 219,669,708.47 |
| Less:Appropriationofstatutorysurplusreserve | 2,840,996.89 | 17,861,325.75 |
| Ordinarysharedividendpayable | 18,104,449.44 | |
| Closingbalance | 424,141,893.34 | 387,423,510.78 |
5.34Operatingrevenue/Operatingcost
| Items | 2020 | 2019 | ||
| Revenue | Costsofsales | Revenue | Costsofsales | |
| Principalactivities | 416,306,597.14 | 316,547,493.71 | 561,948,296.72 | 428,796,930.66 |
| Otheractivities | 8,112,606.20 | 2,713,707.88 | 9,124,597.18 | 2,224,381.98 |
| Total | 424,419,203.34 | 319,261,201.59 | 571,072,893.90 | 431,021,312.64 |
(a)Revenuefromprincipalactivities(byindustryorbusiness)
| Industry(business) | 2020 | 2019 | ||
| Revenue | Costsofsales | Revenue | Costsofsales | |
| AutoSales | 204,928,883.35 | 191,680,818.07 | 168,551,160.58 | 156,655,616.45 |
| AutoMaintenance&Inspection | 41,913,088.24 | 32,521,898.98 | 46,766,020.98 | 39,663,299.92 |
| LeaseandService | 134,609,167.52 | 57,587,615.11 | 153,247,354.66 | 50,778,065.89 |
| JewelrySalesandService | 34,855,458.03 | 34,757,161.55 | 193,383,760.50 | 181,699,948.40 |
| Total | 416,306,597.14 | 316,547,493.71 | 561,948,296.72 | 428,796,930.66 |
(b)Revenuefromprincipalactivities(bysalesmodel)
| Model | 2020 | 2019 | ||
| Revenue | Costsofsales | Revenue | Costsofsales | |
| Model | 2020 | 2019 | ||
| Revenue | Costsofsales | Revenue | Costsofsales | |
| DirectSales | 416,306,597.14 | 316,547,493.71 | 561,948,296.72 | 428,796,930.66 |
| AgentSales | ||||
| Total | 416,306,597.14 | 316,547,493.71 | 561,948,296.72 | 428,796,930.66 |
(c)Revenuefromprincipalactivities(byregion)
| Region | 2020 | 2019 | ||
| Revenue | Costsofsales | Revenue | Costsofsales | |
| Shenzhen | 399,343,292.94 | 300,537,120.26 | 368,564,536.22 | 246,591,834.40 |
| Sichuan | 16,963,304.20 | 16,010,373.45 | 188,861,996.63 | 177,346,699.15 |
| Anhui | 4,521,763.87 | 4,858,397.11 | ||
| Total | 416,306,597.14 | 316,547,493.71 | 561,948,296.72 | 428,796,930.66 |
(d)Revenuebreakdowninformation
| Items | 2020 | ||||
| AutoSales | AutoMaintenance&Inspection | LeaseandService | JewelrySalesandService | Total | |
| Byrevenuerecognitiontime | |||||
| Goods(transferredatacertainpointoftime) | 204,928,883.35 | 41,913,088.24 | 34,178,602.47 | 281,020,574.06 | |
| Service(providedwithinacertainperiodoftime) | 134,609,167.52 | 676,855.56 | 135,286,023.08 | ||
| Total | 204,928,883.35 | 41,913,088.24 | 134,609,167.52 | 34,855,458.03 | 416,306,597.14 |
5.35TaxesandSurcharges
| Items | 2020 | 2019 |
| Cityconstructiontax | 588,739.23 | 830,132.08 |
| Educationalsurcharge | 236,564.31 | 355,770.92 |
| Localeducationalsurcharge | 157,709.54 | 237,180.61 |
| Resourcetax | 386,763.32 | 764,026.93 |
| Propertytax | 2,376,613.48 | 3,364,402.93 |
| Landusetax | 352,296.47 | 484,217.61 |
| Vehicleandvesselusagetax | 5,791.06 | 5,244.16 |
| Stampduty | 228,084.61 | |
| Total | 4,104,477.41 | 6,269,059.85 |
Note:Taxandsurchargesofthisyeardecreasedby34.53%comparedwiththepreviousyear,mainlyduetothereductionofVATsurchargesandthereductionofrealestatetax.
5.36SalesExpenses
| Items | 2020 | 2019 |
| Employeebenefits | 8,887,537.69 | 14,630,038.53 |
| Advertisingpromotionexpense | 2,138,496.21 | 1,703,759.37 |
| Depreciationandamortization | 2,001,011.81 | 2,943,208.89 |
| Materialconsumption | 1,065,923.75 | 1,056,542.05 |
| Utility | 65,067.01 | 852,678.19 |
| Officeexpense | 675,305.56 | 617,180.27 |
| Businesshospitality | 331,419.91 | 441,467.35 |
| Other | 2,550,370.49 | 1,711,227.65 |
| Total | 17,715,132.43 | 23,956,102.30 |
5.37GeneralandAdministrativeExpenses
| Items | 2020 | 2019 |
| Employeebenefits | 25,671,670.92 | 32,664,417.76 |
| Consultationandserviceexpenses | 7,196,540.38 | 3,880,477.15 |
| Depreciationandamortization | 3,107,517.18 | 2,022,219.63 |
| Officeexpenses | 1,574,023.34 | 1,536,671.33 |
| Items | 2020 | 2019 |
| Businesshospitalityexpenses | 280,305.45 | 492,374.20 |
| Advertisingpromotionexpenses | 911,387.33 | 490,165.08 |
| Travelexpenses | 127,650.74 | 353,362.25 |
| Other | 1,115,148.73 | 2,228,576.52 |
| Total | 39,984,244.07 | 43,668,263.92 |
5.38Financialcosts
| Items | 2020 | 2019 |
| InterestExpenses | 1,042,694.54 | 7,000,636.08 |
| Less:interestincome | 4,473,218.76 | 2,317,143.23 |
| Exchangegainsandlosses | -132,748.11 | 59,540.03 |
| Other | 257,388.65 | 239,732.67 |
| Total | -3,305,883.68 | 4,982,765.55 |
Note:Financialexpensesofthisyeardecreasedby166.35%comparedwiththepreviousyear,mainlyduetotheyearonyeardecreaseofinterestexpenses.
5.39OtherIncome
| Items | 2020 | 2019 | Relatedtoassets/income |
| 1.Governmentgrantrecognizedinotherimcome | 1,522,079.42 | 276,907.09 | |
| Including:Governmentgrantrelatedtodeferredincome(relatedtoassets) | 8,297.62 | Relatedtoassets | |
| Governmentgrantdirectlyrecognizedincurrentprofitorloss | 1,513,781.80 | 276,907.09 | Relatedtoincome |
| 2.Othersrelatedtodailyoperationactivitiesandrecognizedinotherincome | 44,839.26 | 15,990.23 | |
| Including:Chargesofwithholdingindividualincometax | 44,839.26 | 9,378.94 | |
| Inputtaxplusdeduction | 6,611.29 |
| Items | 2020 | 2019 | Relatedtoassets/income |
| Total | 1,566,918.68 | 292,897.32 |
5.40InvestmentIncome
| Items | 2020 | 2019 |
| Investmentincomefromlong-termequityinvestmentsunderequitymethod | 14,962,411.52 | 19,134,325.91 |
| Gainsondisposaloflong-termequityinvestments | 1.00 | 210,680,848.23 |
| Investmentincomefromfinancialassetsatfairvaluethroughprofitorlossduringholdingperiod | 8,495,993.07 | 10,207,296.49 |
| Including:financialassetsmeasuredatfairvaluewithchangesincludedincurrentprofitsandlosses | 8,495,993.07 | 10,207,296.49 |
| Investmentinotherequityinstruments | 547,184.35 | |
| Total | 23,458,405.59 | 240,569,654.98 |
Note:Investmentincomeofthisyeardecreasedby90.25%comparedwiththepreviousyear,mainlyduetotheimpactoftheinvestmentincomegeneratedfromthedisposaloflong-termequityinvestmentofShenzhenXinglongMachineryMouldCo.,Ltd.lastyear.
5.41GainsfromChangesinFairValues
| Sourcesofgainsonchangesinfairvalue | 2020 | 2019 |
| Held-for-tradingfinancialassets | 316,475.19 | 477,394.67 |
| Including:Changesinfairvalueofdesignatedasheld-for-tradingfinancialassets | 316,475.19 | 477,394.67 |
| Total | 316,475.19 | 477,394.67 |
Note:Theincomefromthechangeinfairvalueofthisyeardecreasedby33.71%comparedwiththepreviousyear,mainlyduetothecarryforwardinvestmentincomefromtheincomefromthechangeinfairvalueoftheheld-for-tradingfinancialassetsatthebeginningoftheyearwhenitwasrecoveredinthecurrentyear.
5.42ImpairmentLossofCredit
| Items | 2020 | 2019 |
| Baddebtofnotesreceivable | 934,154.48 | -272,030.60 |
| Items | 2020 | 2019 |
| Baddebtofotherreceivables | 594,593.53 | 1,542,510.68 |
| Total | 1,528,748.01 | 1,270,480.08 |
5.43ImpairmentLossofAsset
| Items | 2020 | 2019 |
| Impairmentofinventories | -23,818.95 | -19,028.39 |
| Otherimpairmentlossofassets | -643,261.62 | |
| Total | -23,818.95 | -662,290.01 |
Note:Assetimpairmentlossofthisyeardecreasedby96.40%comparedwiththepreviousyear,mainlyduetotheimpactofotherassetimpairmentlosseswithdrawnbyTeliXingguangJinzunCompanyinthepreviousyear.
5.44Gains/(losses)fromDisposalofAssets
| Items | 2020 | 2019 |
| Gains/(losses)fromdisposaloffixedassets,constructioninprogress,productivebiologicalassetsandintangibleassetsnotclassifiedasheldforsale | 216,207.53 | |
| Including:Fixedassets | 216,207.53 | |
| Total | 216,207.53 |
Note:
5.45Non-operatingIncome
| Items | 2020 | 2019 | Recognizedincurrentextraordinarygainsandlosses |
| Gainsfromdamageandretirementofnon-currentassets | 2,919.56 | 109,998.46 | 109,998.46 |
| Gainsfrominabilitytopaytheproceeeds | 497,187.91 | 497,187.91 | |
| Other | 2,789,050.65 | 194,622.17 | 2,789,050.65 |
| Total | 3,289,158.12 | 304,620.63 | 3,289,158.12 |
Thenon-operatingincomeinthecurrentyearincreasedby979.76%comparedwiththepreviousyear,mainlyduetothereductionof
estimatedliabilitiesrelatedtopendinglitigation.
5.46Non-operatingExpenses
| Items | 2020 | 2019 | Recognizedincurrentextraordinarygainsandlosses |
| Lossfromdamageandretirementofnon-currentassets | 28,814.21 | 214,918.34 | 28,814.21 |
| Finesandexpensesfrombreachofcontract | 43,127.49 | 834,167.39 | 43,127.49 |
| Other | 20,810.00 | 20,810.00 | |
| Total | 92,751.70 | 1,049,085.73 | 92,751.70 |
Note:Thenon-operatingexpensesofthisyear,decreasedby91.16%comparedwiththepreviousyear,mainlyduetotheimpactofearlyrentterminationexpensesTeliXingguangJinzunCompanylastyear.
5.47IncomeTaxExpenses(a)Detailsofincometaxexpenses
| Items | 2020 | 2019 |
| Currenttaxexpenses | 16,683,064.79 | 68,071,018.71 |
| Deferredtaxexpenses | 160,140.29 | 15,696,124.32 |
| Previoustaxexpenses | -445,268.53 | 20,891.90 |
| Total | 16,397,936.55 | 83,788,034.93 |
Note:Theincometaxexpenseofthisyeardecreasedby80.43%comparedwiththepreviousyear,mainlyduetotheimpactoftheenterpriseincometaxaccruedfromthelong-termequityinvestmentofShenzhenXinglongMachineryMouldCo.,Ltd.andthedeferredincometaxrelatedtothedifferenceofequityinvestmentrecognizedinthepreviousyear'sreversal.(b)Reconciliationofaccountingprofitandincometaxexpenses
| Items | 2020 | 2019 |
| Profitbeforetax | 76,703,166.46 | 302,595,269.11 |
| Incometaxexpenseatthestatutory/applicabletaxrate | 19,175,791.62 | 75,894,191.34 |
| Effectofdifferenttaxrateofsubsidiaries | -96,771.41 | -116,827.10 |
| Adjustmentsofimpactfrompriorperiodincometax | -445,268.53 | 20,891.90 |
| Items | 2020 | 2019 |
| Longtermequityinvestmentincomeandequityinstrumentinvestmentincome | -3,740,602.88 | -4,920,377.57 |
| Effectofnon-deductiblecosts,expensesorlosses | 409,611.27 | 187,968.31 |
| Effectofpreviouslyunrecognizeddeductiblelossesrecognizedasdeferredtaxassets | -372,335.43 | -1,432,355.39 |
| Effectofdeductibletemporarydifferencesanddeductiblelossesnotrecognizedasdeferredtaxassets | 2,222,449.90 | 14,154,543.44 |
| Other(theimpactofsmalllowprofitenterprisesonthereductionoftaxableincomeandtheexpectedbalanceofliabilitiesattheendoftheperiod) | -754,937.99 | |
| Incometaxexpenses | 16,397,936.55 | 83,788,034.93 |
5.48OtherComprehensiveIncomeFordetailsofnetamountaftertaxoftheothercomprehensiveincome,pleaserefertoNote5.31OtherComprehensiveIncomefordetails.
5.49NotestotheStatementofCashFlow(a)Othercashreceivedrelatingtooperatingactivities
| Items | 2020 | 2019 |
| Securitydeposit | 7,335,328.03 | 28,834,845.75 |
| Interestincome | 3,015,893.77 | 1,521,342.50 |
| Governmentsubsidiesreceived | 1,513,781.80 | 416,307.09 |
| Otherincomereceived | 44,839.26 | 9,378.94 |
| Currentaccountandothers | 4,209,581.52 | 16,979,131.53 |
| Total | 16,119,424.38 | 47,761,005.81 |
(b)Othercashpaymentsrelatingtooperatingactivities
| Items | 2020 | 2019 |
| Cashexpenses | 16,559,142.10 | 15,604,214.08 |
| Securitydeposit | 441,713.29 | 20,695,465.01 |
| Finesandexpensesfrombreachofcontract | 63,937.49 | 834,167.39 |
| Currentaccountandothers | 436,758.81 | 13,905,542.01 |
| Total | 17,501,551.69 | 51,039,388.49 |
(c)Othercashreceivedrelatingtoinvestingactivities
| Items | 2020 | 2019 |
| Performancebondforequitytransferreceived | 50,000,000.00 | |
| Relatedloan | 2,385,849.54 | |
| Other | 69,962.11 | |
| Total | 50,069,962.11 | 2,385,849.54 |
(d)Othercashpaymentsrelatingtoinvestingactivities
| Items | 2020 | 2019 |
| Serviceexpensesforequitytransferpaid | 5,000.00 | |
| Total | 5,000.00 |
(e)Othercashreceivedrelatingtofinancingactivities
| Items | 2020 | 2019 |
| Loansfromnon-financialinstitutions | 24,800,000.00 | 15,020,000.00 |
| Total | 24,800,000.00 | 15,020,000.00 |
(f)Othercashpaymentsrelatingtofinancingactivities
| Items | 2020 | 2019 |
| Repaymentofloansfromnon-financialinstitution | 24,800,000.00 | 22,962,000.00 |
| Total | 24,800,000.00 | 22,962,000.00 |
5.50SupplementaryInformationtotheStatementofCashFlows(a)Supplementaryinformationtothestatementofcashflows
| Supplementaryinformation | 2020 | 2019 |
| (i)Adjustmentsofnetprofittocashflowsfromoperatingactivities: |
| Supplementaryinformation | 2020 | 2019 |
| Netprofit | 60,305,229.91 | 218,807,234.18 |
| Add:Provisionsforimpairmentofassets | 23,818.95 | -608,190.07 |
| ImpairmentLossofCredit | -1,528,748.01 | |
| Depreciationoffixedassets,InvestmentProperties,oilandgasassetandproductivebiologicalassets | 27,990,380.00 | 26,429,872.30 |
| Amortizationofintangibleassets | 534,789.66 | 229,471.59 |
| Amortizationoflong-termdeferredexpenses | 3,169,898.43 | 2,898,140.55 |
| Losses/(gainsas‘-’)ondisposaloffixedassets,intangibleassetsandotherlong-termassets | 25,894.65 | -216,207.53 |
| Losses/(gainsas‘-’)onscrappingoffixedassets | 104,919.88 | |
| Losses/(gainsas‘-’)onchangesinfairvalue | -316,475.19 | -477,394.67 |
| Financecosts/(incomeas‘-’) | -547,378.56 | 7,060,176.11 |
| Investmentlosses/(incomeas‘-’) | -23,458,405.59 | -240,569,654.98 |
| Decreases/(increasesas‘-’)indeferredtaxassets | 160,140.29 | 15,696,124.32 |
| Increases/(decreasesas‘-’)indeferredtaxliabilities | ||
| Decreases/(increasesas‘-’)ininventories | -713,896.05 | -9,065,776.82 |
| Decreases/(increasesas‘-’)inoperatingreceivables | 89,142,199.52 | -24,176,109.62 |
| Increases/(decreasesas‘-’)inoperatingpayables | -45,682,145.13 | 82,798,747.79 |
| Others | ||
| Netcashflowsfromoperatingactivities | 109,105,302.88 | 78,911,353.03 |
| (ii)Significantinvestingandfinancing |
| Supplementaryinformation | 2020 | 2019 |
| activitiesnotinvolvingcashreceiptsandpayments: | ||
| Conversionofdebtintocapital | ||
| Convertiblecorporatebondsmaturingwithinoneyear | ||
| Fixedassetsacquiredunderfinanceleases | ||
| (iii)Netincreasesincashandcashequivalents: | ||
| Cashattheendofthereportingperiod | 208,462,656.63 | 400,668,257.81 |
| Less:Cashatthebeginningofthereportingperiod | 400,668,257.81 | 142,848,120.69 |
| Add:Cashequivalentsattheendofthereportingperiod | ||
| Less:Cashequivalentsatthebeginningofthereportingperiod | ||
| Netincreaseincashandcashequivalents | -192,205,601.18 | 257,820,137.12 |
(b)Thecomponentsofcashandcashequivalents
| Items | 31December2020 | 31December2019 |
| (i)Cash | 208,462,656.63 | 400,668,257.81 |
| Including:Cashonhand | 20,542.55 | 120,351.17 |
| Cashinbankavailableforimmediateuse | 208,442,114.08 | 400,547,906.64 |
| Othermonetaryfundsavailableforimmediateuse | ||
| (ii)Cashequivalents | ||
| Including:Bondinvestmentsmaturingwithinthreemonths | ||
| (iii)Cashandcashequivalentsattheendofthereportingperiod | 208,462,656.63 | 400,668,257.81 |
5.51RestrictedAssets
Including:RestrictedcashandcashequivalentsoftheparentCompanyandthesubsidiariesofthegroup
Items
| Items | Carryingamountat31December2020 | Reason |
| Cashandcashequivalents | 29,163,042.30 | PleaserefertoNote5.1fordetails |
| Intangibleassets | 48,870,991.00 | Bankloanmortgage |
| Total | 78,034,033.30 |
5.52ForeignCurrencyMonetaryItems(a)Foreigncurrencymonetaryitemsat31December2020:
| Items | Carryingamountatforeigncurrency | Exchangerate | CarryingamountatCNY |
| Cashandcashequivalents | |||
| Including:USD | 856.00 | 6.5249 | 5,585.31 |
| HKD | 21,082.31 | 0.84164 | 17,743.72 |
| Total | — | 23,329.03 |
5.53GovernmentGrants(a)Governmentgrantsrelatedtoassets
| Items | Amount | Itemspresentedinthestatementoffinancialposition | Recognizedincurrentprofitorlossordirectlyasdeductofrelatedcost | Presenteditemsthatrecognizedincurrentprofitorlossordirectlyasdeductofrelatedcost | |
| 2020 | 2019 | ||||
| Subsidyfundforelevator | 131,102.38 | Deferredincome | 8,297.62 | Otherincome | |
| Items | Amount | Itemspresentedinthestatementoffinancialposition | Recognizedincurrentprofitorlossordirectlyasdeductofrelatedcost | Presenteditemsthatrecognizedincurrentprofitorlossordirectlyasdeductofrelatedcost | |
| 2020 | 2019 | ||||
| renewalofoldelevatorrenewalandtransformationworkinggroupinFutianDistrict | |||||
(b)Governmentgrantsrelatedtoincome
| Items | Amount | Itemspresentedinthestatementoffinancialposition | Recognizedincurrentprofitorlossordirectlyasdeductofrelatedcost | Presenteditemsthatrecognizedincurrentprofitorlossordirectlyasdeductofrelatedcost | |
| 2020 | 2019 | ||||
| ShenzhenLuohuDistrictBureauofindustryandinformationtechnologytransferredintosupportfeesforconsumeractivities | 1,156,106.19 | N/A | 1,156,106.19 | Otherincome | |
| 2019Industrialsupportfunds | 241,700.00 | N/A | 241,700.00 | 268,700.00 | Otherincome |
| SubsidiesforenterprisetrialtraininginLuohuDistrict | 76,380.00 | N/A | 76,380.00 | Otherincome | |
| SocialSecurityBureausubsidy | 29,480.01 | N/A | 29,480.01 | 8,207.09 | Otherincome |
| Subsidyforwater&powersupply | 10,115.60 | N/A | 10,115.60 | Otherincome | |
| Total | 1,513,781.80 | 1,513,781.80 | 276,907.09 | ||
Note6.CHANGESINTHESCOPEOFCONSOLIDATION
6.1TheScopeofConsolidationIncreased
| Nameoftheacquirees | Waystoacquiretheequityinterests | Dateofacquiringtheequityinterests | Acquisitioncosts | Interestacquired(%) |
| ShenzhenjewelryindustryServiceCo.,Ltd | Newlyestablish | July2020 | 13,000,000.00 | 65.00 |
Note7.INTERESTSINOTHERENTITIES
7.1InterestsinSubsidiaries(a)Compositionofcorporategroup
| Nameofsubsidiary | Principalplaceofbusiness | RegisteredAddress | Natureofbusiness | PercentageofequityinterestsbytheCompany(%) | Waysofacquisition | |
| Direct | Indirect | |||||
| 深圳市特力新永通汽车发展有限公司(ShenzhenTellusXinyongtongAutomobileDevelopmentCo.,Ltd.*) | Shenzhen | Shenzhen | Commercial | 100.00 | Setup | |
| 深圳市宝安石泉实业有限公司(ShenzhenBao’anShiquanIndustrialCo.,Ltd.*) | Shenzhen | Shenzhen | Commercial | 100.00 | Setup | |
| 深圳市特发特力房地产有限公司(ShenzhenSDGTellusRealEstateCo.,Ltd.*) | Shenzhen | Shenzhen | Manufacture | 100.00 | Setup | |
| 深圳市特力创盈科技有限公司(ShenzhenTellusChuangyingTechnologyCo.,Ltd.*) | Shenzhen | Shenzhen | Commercial | 100.00 | Setup | |
| 深圳市新永通机动车检测设 | Shenzhen | Shenzhen | Commercial | 51.00 | Setup | |
| Nameofsubsidiary | Principalplaceofbusiness | RegisteredAddress | Natureofbusiness | PercentageofequityinterestsbytheCompany(%) | Waysofacquisition | |
| Direct | Indirect | |||||
| 备有限公司(ShenzhenXinyongtongAutoVehicleInspectionEquipmentCo.,Ltd.*) | ||||||
| 深圳市汽车工业贸易有限公司(ShenzhenAutomobileIndustryandTradeCo.,Ltd.*) | Shenzhen | Shenzhen | Commercial | 100.00 | Setup | |
| 深圳市汽车工业供销公司(ShenzhenAutomobileIndustrySupplyandMarketingCo.,Ltd.*) | Shenzhen | Shenzhen | Commercial | 100.00 | Setup | |
| 深圳特发华日汽车企业有限公司(ShenzhenSDGHuariAutomobileEnterpriseCo.,Ltd.*) | Shenzhen | Shenzhen | Commercial | 60.00 | Setup | |
| 深圳市华日安信汽车检测有限公司(ShenzhenHuariAnxinAutomobileInspectionCo.,Ltd.*) | Shenzhen | Shenzhen | Commercial | 100.00 | Setup | |
| 深圳市中天实业有限公司(ShenzhenZhongtianIndustrialCo.,Ltd.*) | Shenzhen | Shenzhen | Commercial | 100.00 | Setup | |
| 深圳市华日丰田汽车销售服务有限公司(ShenzhenHuariToyotaAutoSalesServiceCo.,Ltd.*) | Shenzhen | Shenzhen | Commercial | 60.00 | Setup | |
| 安徽特力星光珠宝投资有限公司(AnhuiTellusSeon | Hefei | Hefei | Commercial | 51.00 | Setup | |
| Nameofsubsidiary | Principalplaceofbusiness | RegisteredAddress | Natureofbusiness | PercentageofequityinterestsbytheCompany(%) | Waysofacquisition | |
| Direct | Indirect | |||||
| JewelryInvestmentCo.,Ltd.*) | ||||||
| 安徽特力星光金尊珠宝有限公司(AnhuiTellusSeonJinzunJewelryCo.,Ltd.*) | Hefei | Hefei | Commercial | 60.00 | Setup | |
| 四川特力珠宝科技有限公司(SichuanTellusJewelryTechnologyCo.,Ltd.*) | Chengdu | Chengdu | Commercial | 66.67 | Setup | |
| 深圳市特力宝库供应链科技有限公司(ShenzhenTellusBaokuSupplyChainTechnologyCo.,Ltd.*) | Shenzhen | Shenzhen | Commercial | 100.00 | Setup | |
| 深圳珠宝产业服务有限公司(ShenzhenJewelryIndustryServiceCo.Ltd.*) | Shenzhen | Shenzhen | Commercial | 65.00 | Setup | |
(b)Significantnon-whollyownedsubsidiaries
| Nameofsubsidiary | Proportionofownershipinterestheldbynon-controllinginterests | Profitorlossattributabletonon-controllinginterestsduringthereportingperiod | Dividendsdeclaredtodistributetonon-controllinginterestsduringthereportingperiod | Non-controllinginterestsattheendofthehereportingperiod |
| 深圳市华日丰田汽车销售服务有限公司(ShenzhenHuariToyotaAutoSalesCo.,Ltd.*) | 40.00 | 2,429,620.42 | 4,108,006.99 | |
| 深圳特发华日汽车企业有限公司(ShenzhenHuariToyotaAutoSalesServiceCo.,Ltd.*) | 40.00 | 1,253,041.70 | 10,954,974.96 |
(c)Mainfinancialinformationofsignificantnon-whollyownedsubsidiaries
| Nameofsubsidiary | 31December2020 | |||||
| Currentassets | Non-currentassets | Totalassets | Currentliabilities | Non-currentliabilities | Totalliabilities | |
| 深圳市华日丰田汽车销售服务有限公司(ShenzhenHuariToyotaAutoSalesCo.,Ltd.*) | 67,507,256.67 | 6,694,509.17 | 74,201,765.84 | 63,931,748.36 | 63,931,748.36 | |
| 深圳特发华日汽车企业有限公司(ShenzhenHuariToyotaAutoSalesServiceCo.,Ltd.*) | 52,641,986.30 | 22,198,318.35 | 74,840,304.65 | 47,302,867.25 | 47,302,867.25 | |
(Continued)
| Nameofsubsidiary | 31December2019 | |||||
| Currentassets | Non-currentassets | Totalassets | Currentliabilities | Non-currentliabilities | Totalliabilities | |
| 深圳市华日丰田汽车销售服务有限公司(ShenzhenHuariToyotaAutoSalesCo.,Ltd.*) | 66,208,279.12 | 4,780,912.24 | 70,989,191.36 | 66,793,224.94 | 66,793,224.94 | |
| 深圳特发华日汽车企业有限公司(ShenzhenHuariToyotaAutoSalesServiceCo.,Ltd.*) | 48,495,244.11 | 24,078,718.09 | 72,573,962.20 | 48,169,129.04 | 48,169,129.04 | |
| Nameofsubsidiary | 2020 | |||
| Revenue | Netprofit/(loss) | Totalcomprehensiveincome | Netcashflowsfromoperatingactivities | |
| 深圳市华日丰田汽车销售服务有限公司(ShenzhenHuari | 250,984,420.93 | 6,074,051.06 | 6,074,051.06 | 4,948,345.76 |
| Nameofsubsidiary | 2020 | |||
| Revenue | Netprofit/(loss) | Totalcomprehensiveincome | Netcashflowsfromoperatingactivities | |
| ToyotaAutoSalesCo.,Ltd.*) | ||||
| 深圳特发华日汽车企业有限公司(ShenzhenHuariToyotaAutoSalesServiceCo.,Ltd.*) | 34,313,269.53 | 3,132,604.24 | 3,132,604.24 | 4,440,264.62 |
(Continued)
| Nameofsubsidiary | 2019 | |||
| Revenue | Netprofit/(loss) | Totalcomprehensiveincome | Netcashflowsfromoperatingactivities | |
| 深圳市华日丰田汽车销售服务有限公司(ShenzhenHuariToyotaAutoSalesCo.,Ltd.*) | 219,302,518.27 | 2,099,623.78 | 2,099,623.78 | -1,555,308.78 |
| 深圳特发华日汽车企业有限公司(ShenzhenHuariToyotaAutoSalesServiceCo.,Ltd.*) | 38,745,157.90 | -3,089,360.18 | -3,089,360.18 | 5,401,481.18 |
7.2InterestsinJointArrangementsorAssociates(a)Significantjointventuresorassociates
| Companyname | Principalplaceofbusiness | Registeredaddress | Natureofbusiness | ProportionofequityinterestsbytheCompany(%) | Measurementmethods | |
| Direct | Indirect | |||||
| Jointventures | ||||||
| 深圳特力吉盟投资有限公司(ShenzhenTellusJimeng | Shenzhen | Shenzhen | Investmentinindustries | 50.00 | Accountingbyequitymethod | |
| InvestmentCo.,Ltd.*) | ||||||
| Associates | ||||||
| 深圳市仁孚特力汽车服务有限公司(ShenzhenRenfuTellusAutomobilesServiceCo.,Ltd.*) | Shenzhen | Shenzhen | MercedesBenzsales | 35.00 | Accountingbyequitymethod | |
| 深圳东风汽车有限公司(ShenzhenDongfengAutomobileCo.,Ltd.*) | Shenzhen | Shenzhen | Automanufacturingandsales | 25.00 | Accountingbyequitymethod |
(b)Mainfinancialinformationofthesignificantjointventures
| Items | 31Dec2020/2020 | 31Dec2019/2019 |
| 深圳特力吉盟投资有限公司(ShenzhenTellusJimengInvestmentCo.,Ltd.*) | 深圳特力吉盟投资有限公司(ShenzhenTellusJimengInvestmentCo.,Ltd.*) | |
| Currentassets | 37,797,029.81 | 56,022,041.04 |
| Including:Cashandcashequivalents | 34,281,101.96 | 9,770,310.11 |
| Non-currentassets | 360,906,421.80 | 363,958,852.65 |
| Totalassets | 398,703,451.61 | 419,980,893.69 |
| Currentliabilities | 27,947,969.41 | 34,420,126.74 |
| Non-currentliabilities | 295,422,000.00 | 245,250,000.00 |
| Totalliabilities | 323,369,969.41 | 279,670,126.74 |
| Non-controllinginterests | ||
| Totalowner’sequityattributabletoparentCompany | 75,333,482.20 | 140,310,766.95 |
| Items | 31Dec2020/2020 | 31Dec2019/2019 |
| 深圳特力吉盟投资有限公司(ShenzhenTellusJimengInvestmentCo.,Ltd.*) | 深圳特力吉盟投资有限公司(ShenzhenTellusJimengInvestmentCo.,Ltd.*) |
| Shareofnetassetscalculatedattheproportionofequityinterests | 37,666,741.13 | 70,155,383.48 |
| Adjustmentmatters | ||
| —Goodwill | ||
| —Unrealizedprofitfromintragrouptransaction | ||
| —Others | ||
| Carryingamountofinvestmentinthejointventure | 37,666,741.13 | 70,155,383.48 |
FairvalueofpubliclyquotedequityinvestmentinjointventureRevenue
| Revenue | 87,082,384.96 | 91,769,888.39 |
| Financeexpenses | 15,850,179.92 | 14,266,181.96 |
| Incometaxexpenses | 6,905,938.48 | 5,473,045.83 |
| Netprofit/(loss) | 21,022,715.25 | 16,232,739.76 |
| Netprofitfromdiscontinuedoperations | ||
| Othercomprehensiveincome | ||
| Totalcomprehensiveincome | 21,022,715.25 | 16,232,739.76 |
| Dividendsreceivedfromthejointventure | 8,000,000.00 |
(c)Mainfinancialinformationofsignificantassociates
| Items | 31Dec2020/2020 | 31Dec2019/2019 | ||
| 深圳市仁孚特力汽车服务有限公司(ShenzhenRenfuTellusAutomobilesServiceCo.,Ltd.*) | 深圳东风汽车有限公司(ShenzhenDongfengAutomobileCo.,Ltd.*) | 深圳市仁孚特力汽车服务有限公司(ShenzhenRenfuTellusAutomobilesServiceCo.,Ltd.*) | 深圳东风汽车有限公司(ShenzhenDongfengAutomobileCo.,Ltd.*) | |
| CurrentAssets | 214,297,861.00 | 378,483,991.85 | 229,415,509.00 | 479,352,285.14 |
| Non-currentassets | 23,368,404.54 | 172,244,888.77 | 22,735,996.00 | 214,963,230.31 |
| Totalassets | 237,666,265.54 | 550,728,880.62 | 252,151,505.00 | 694,315,515.45 |
| Currentliabilities | 141,645,848.00 | 344,958,726.39 | 156,969,413.00 | 459,613,457.00 |
| Non-currentliabilities | - | 65,583,477.43 | 66,941,248.16 | |
| Totalliabilities | 141,645,848.00 | 410,542,203.82 | 156,969,413.00 | 526,554,705.16 |
| Non-controllinginterests | -14,510,815.59 | -11,589,462.52 | ||
| Totalowner’sequityattributabletoparentCompany | 96,020,417.54 | 154,697,492.39 | 95,182,092.00 | 179,350,272.81 |
| Shareofnetassetscalculatedattheproportionofequityinterests | 33,607,146.14 | 38,674,373.09 | 33,313,732.20 | 44,837,568.20 |
| Adjustmentmatters | ||||
| —Goodwill | ||||
| —Unrealizedprofitfromintragrouptransaction | ||||
| —Others |
| Items | 31Dec2020/2020 | 31Dec2019/2019 | ||
| 深圳市仁孚特力汽车服务有限公司(ShenzhenRenfuTellusAutomobilesServiceCo.,Ltd.*) | 深圳东风汽车有限公司(ShenzhenDongfengAutomobileCo.,Ltd.*) | 深圳市仁孚特力汽车服务有限公司(ShenzhenRenfuTellusAutomobilesServiceCo.,Ltd.*) | 深圳东风汽车有限公司(ShenzhenDongfengAutomobileCo.,Ltd.*) | |
| Carryingamountofinvestmentintheassociate | 33,607,146.14 | 38,674,373.09 | 33,313,732.20 | 44,837,568.20 |
FairvalueofpubliclyquotedequityinvestmentinassociateRevenue
| Revenue | 1,247,864,433.00 | 399,893,712.73 | 1,146,987,875.00 | 502,282,870.47 |
| Netprofit/(loss) | 30,838,325.75 | -26,791,281.02 | 30,315,168.00 | 18,741,639.29 |
| Netprofitfromdiscontinuedoperations | ||||
| Othercomprehensiveincome | ||||
| Totalcomprehensiveincome | 30,838,325.75 | -26,791,281.02 | 30,315,168.00 | 18,741,639.29 |
| Dividendsreceivedfromtheassociate | 10,500,000.00 | 17,500,000.00 |
(d)Summarizedfinancialinformationaboutinsignificantjointventuresandassociates
| 31December2020/2020 | 31December2019/2019 |
Jointventure：
Totalcarryingamountofinvestments
| Totalcarryingamountofinvestments | 12,697,424.88 | 11,845,452.17 |
| Theaggregateamountofbelowitemscalculatedbasedonproportionofequityinterests: | ||
| —Netprofit/(loss) | 1,365,105.69 | 855,101.45 |
| —Othercomprehensiveincome | ||
| —Totalcomprehensiveincome | 1,365,105.69 | 855,101.45 |
Associate：
Totalcarryingamountofinvestments
| Totalcarryingamountofinvestments | 995,270.33 | 2,026,407.98 |
| Theaggregateamountofbelowitemscalculatedbasedonproportionofequityinterests: | ||
| —Netprofit/(loss) | -4,655,318.50 | -15,260,873.57 |
| —Othercomprehensiveincome | ||
| —Totalcomprehensiveincome | -4,655,318.50 | -15,260,873.57 |
(e)Excessdeficitinjointventuresorassociates
| Nameofjointventuresorassociates | Cumulativeunrecognizedlossat31December2019 | Unrecognizedprofitinthereportingperiod(orshareofnetprofitinthereportingperiod) | Cumulativeunrecognizedlossat31December2020 |
| 深圳特力汽车服务连锁有限公司(ShenzhenTellusAutomobileServicesChainCo.,Ltd.*) | 98,865.26 | 98,865.26 | |
| 深圳市永通信达检测设备 | 916,937.25 | 259,275.48 | 1,176,212.73 |
| Nameofjointventuresorassociates | Cumulativeunrecognizedlossat31December2019 | Unrecognizedprofitinthereportingperiod(orshareofnetprofitinthereportingperiod) | Cumulativeunrecognizedlossat31December2020 |
| 有限责任公司(ShenzhenYongtongXindaInspectionEquipmentCo.,Ltd.*) |
Note8.RISKSRELATEDTOFINANCIALINSTRUMENTSRisksrelatedtothefinancialinstrumentsoftheCompanyarisefromtherecognitionofvariousfinancialassetsandfinancialliabilitiesduringitsoperation,includingcreditrisk,liquidityriskandmarketrisk.ManagementoftheCompanyisresponsiblefordeterminingriskmanagementobjectivesandpoliciesrelatedtofinancialinstruments.Operationalmanagementisresponsibleforthedailyriskmanagementthroughfunctionaldepartments(e.g.creditmanagementdepartmentoftheCompanyreviewseachcreditsale).Internalauditdepartmentisresponsibleforthedailysupervisionofimplementationoftheriskmanagementpoliciesandprocedures,andreporttheirfindingstotheauditcommitteeinatimelymanner.OverallriskmanagementobjectiveoftheCompanyistoestablishriskmanagementpoliciestominimizetheriskswithoutundulyaffectingthecompetitivenessandresilienceoftheCompany.
8.1CreditRiskCreditriskistheriskofonepartyofthefinancialinstrumentfacetoafinanciallossbecausetheotherpartyofthefinancialinstrumentfailstofulfillitsobligation.ThecreditriskoftheCompanyisrelatedtocashandequivalent,notesreceivable,accountsreceivables,otherreceivablesandlong-termreceivables.Creditriskofthesefinancialassetsisderivedfromthecounterparty’sbreachofcontract.Themaximumriskexposureisequaltothecarryingamountofthesefinancialinstruments.CashandcashequivalentoftheCompanyhaslowercreditrisk,astheyaremainlydepositedinsuchfinancialinstitutionsascommercialbank,ofwhichtheCompanythinkswithhigherreputationandfinancialposition.Fornotesreceivable,otherreceivablesandlong-termreceivables,theCompanyestablishesrelatedpoliciestocontroltheircreditriskexposure.TheCompanyassessescreditcapabilityofitscustomersanddeterminestheircredittermsbasedontheirfinancialposition,possibilityoftheguaranteefromthirdparty,creditrecordandotherfactors(suchascurrentmarketstatus,etc.).TheCompanymonitorsitscustomers’creditrecordperiodically,andforthosecustomerswithpoorcreditrecord,theCompanywilltakemeasuressuchaswrittencall,shorteningorcancellingtheircredittermssoastoensuretheoverallcreditriskoftheCompanyiscontrollable.(i)Determinationofsignificantincreasesincreditrisk
TheCompanyassessesateachreportingdateastowhetherthecreditriskonfinancialinstrumentshasincreasedsignificantlysinceinitialrecognition.WhentheCompanydetermineswhetherthecreditriskhasincreasedsignificantlysinceinitialrecognition,itconsidersbasedonreasonableandsupportableinformationthatisavailablewithoutunduecostoreffort,includingquantitativeandqualitativeanalysisofhistoricalinformation,externalcreditratingsandforward-lookinginformation.TheCompanydeterminesthechangesintheriskofadefaultoccurringovertheexpectedlifeofthefinancialinstrumentthroughcomparingtheriskofadefaultoccurringonthefinancialinstrumentasatthereportingdatewiththeriskofadefaultoccurringonthefinancialinstrumentasatthedateofinitialrecognitionbasedonindividualfinancialinstrumentoragroupoffinancialinstrumentswiththesimilarcreditriskcharacteristics.Whenmetoneormoreofthefollowingquantitativeorqualitativecriteria,theCompanydeterminesthatthecreditriskonfinancialinstrumentshasincreasedsignificantly:thequantitativecriteriaappliedmainlybecauseasatthereportingdate,theincreaseintheprobabilityofdefaultoccurringoverthelifetimeismorethanacertainpercentagesincetheinitialrecognition;thequalitativecriteriaappliedifthedebtorhasadversechangesinbusinessandeconomicconditions,earlywarninglistofcustomer,andetc.(ii)Definitionofcredit-impairedfinancialassetsThecriteriaadoptedbytheCompanyfordeterminationofcreditimpairmentareconsistentwithinternalcreditriskmanagementobjectivesofrelevantfinancialinstrumentsinconsideringbothquantitativeandqualitativeindicators.WhentheCompanyassesseswhetherthedebtorhasincurredthecreditimpairment,themainfactorsconsideredareasfollowing:
Significantfinancialdifficultyoftheissuerortheborrower;abreachofcontract,e.g.,defaultorpast-dueevent;alenderhavinggrantedaconcessiontotheborrowerforeconomicorcontractualreasonsrelatingtotheborrower’sfinancialdifficultythatthelenderwouldnototherwiseconsider;theprobabilitythattheborrowerwillenterbankruptcyorotherfinancialre-organisation;thedisappearanceofanactivemarketforthefinancialassetbecauseoffinancialdifficultiesoftheissuerortheborrower;thepurchaseororiginationofafinancialassetatadeepdiscountthatreflectstheincurredcreditlosses.(iii)TheparameterofexpectedcreditlossmeasurementTheCompanymeasuresimpairmentprovisionfordifferentassetswiththeexpectedcreditlossof12-monthorthelifetimebasedonwhethertherehasbeenasignificantincreaseincreditriskorcreditimpairmenthasoccurred.Thekeyparametersforexpectedcreditlossmeasurementincludedefaultprobability,defaultlossrateanddefaultriskexposure.TheCompanysetsupthemodelofdefaultprobability,defaultlossrateanddefaultriskexposureinconsideringthequantitativeanalysisofhistoricalstatistics(suchascounterparties’ratings,guaranteemethodandcollateraltype,repaymentmethod,etc.)andforward-lookinginformation.Relevantdefinitionsareasfollowing:
Defaultprobabilityreferstotheprobabilityofthedebtorwillfailtodischargetherepaymentobligationoverthenext12monthsortheentireremaininglifetime;
DefaultlossratereferstotheCompany'sexpectationofthelossdegreeofdefaultriskexposure.Thedefaultlossratevariesdependingonthetypeofcounterparty,recoursemethodandpriority,andthecollateral.Thedefaultlossrateisthepercentageoftheriskexposurelosswhendefaulthasoccurredanditiscalculatedoverthenext12monthsortheentirelifetime;ThedefaultriskexposurereferstotheamountthattheCompanyshouldberepaidwhendefaulthasoccurredinthenext12monthsortheentirelifetime.Boththeassessmentofsignificantincreaseincreditriskofforward-lookinginformationandthecalculationofexpectedcreditlossesinvolveforward-lookinginformation.Throughhistoricaldataanalysis,theCompanyidentifieskeyeconomicindicatorsthathaveimpactonthecreditriskandexpectedcreditlossesforeachbusiness.ThemaximumexposuretocreditriskoftheCompanyisthecarryingamountofeachfinancialassetinthestatementoffinancialposition.TheCompanydoesnotprovideanyotherguaranteesthatmayexposetheCompanytocreditrisk.
8.2LiquidityRiskLiquidityriskistheriskofshortageoffundswhenfulfillingtheobligationofsettlementbydeliveringcashorotherfinancialassets.TheCompanyisresponsibleforthecapitalmanagementofallofitssubsidiaries,includingshort-terminvestmentofcashsurplusanddealingwithforecastedcashdemandbyraisingloans.TheCompany’spolicyistomonitorthedemandforshort-termandlong-termfloatingcapitalandwhethertherequirementofloancontractsissatisfiedsoastoensuretomaintainadequatecashandcashequivalents.Asat31December2020,thematurityprofileoftheCompany’sfinancialliabilitiesisasfollows:
| Items | 31December2020 | |||
| Within6months | 1-2years | 2-3years | Above3years | |
| Accountspayable | 76,583,166.53 | |||
| Otherpayables | 158,617,678.97 | |||
| Long-termloans | 469,213.89 | 469,213.89 | 774,906.74 | 14,207,964.22 |
| Long-termpayables | 3,920,160.36 | |||
| Total | 239,590,219.75 | 469,213.89 | 774,906.74 | 14,207,964.22 |
(Continued)
| Items | 31December2019 | |||
| Within6months | 1-2years | 2-3years | Above3years | |
| Accountspayable | 69,087,430.42 | |||
| Otherpayables | 101,266,802.49 | |||
| Long-termpayables | 3,920,160.36 |
| Total | 174,274,393.27 |
8.3MarketRisk(a)ForeigncurrencyriskForeigncurrencyriskistheriskarisingfromchangesinfairvalueorfuturecashflowsoffinancialinstrumentresultedfromchangesinexchangerate.TheCompanyismainlyoperatedinmainlandChina,whosemainactivitiesaredenominatedinCNY,hence,theCompanybearsinsignificantmarketriskarisingfromforeignexchangechanges.PleaserefertoNote5.52ForeignCurrencyfordetailsinforeigncurrencyfinancialassetsandliabilitiesonthebalancesheetdate.(b)InterestrateriskInterestrateriskoftheCompanyprimarilyarisesfromitslong-terminterest-bearingdebts,suchaslong-termloansandbondspayables,etc.FinancialliabilitieswithfloatinginterestratemaketheCompanysubjecttocashflowinterestraterisk,andfinancialliabilitieswithfixedinterestratemaketheCompanysubjecttofairvalueinterestraterisk.TheCompanydeterminestherelativeproportionofthefixedinterestcontractsandfloatinginterestcontractsbasedonthecurrentmarketenvironment.FinancedepartmentoftheCompany’sheadquartermonitorsinterestrateofthegroupcontinuously.Increaseoftheinterestratewillresultintheincreaseofthecostofnewinterest-bearingdebtsandtheinterestexpenseoftheunpaidinterest-bearingdebtswithfloatingrate,andsubsequentlyleadtosignificantnegativeimpactonthefinancialperformanceoftheCompany.Themanagementmakesadjustmentinaccordancewiththeupdatemarketconditioninatimelymanner.Note9.FAIRVALUEDISCLOSURESTheinputsusedinthefairvaluemeasurementinitsentiretyaretobeclassifiedinthelevelofthehierarchyinwhichthelowestlevelinputthatissignificanttothemeasurementisclassified.Level1:InputsconsistofunadjustedquotedpricesinactivemarketsforidenticalassetsorliabilitiesLevel2:Inputsfortheassetsorliabilities(otherthanthoseincludedinLevel1)thatareeitherdirectlyorindirectlyobservable.Level3:Inputsareunobservableinputsfortheassetsorliabilities
9.1AssetsandLiabilitiesMeasuredatFairValueat31December2020
| Items | Fairvalueat31December2020 | |||
| Level1 | Level2 | Level3 | Total | |
| Recurringfairvaluemeasurements | ||||
| (a)Held-for-tradingfinancialassets | 314,013,869.86 | 314,013,869.86 | ||
| (i)Financialassetsdesignatedasatfairvaluethroughprofitorloss | ||||
| Items | Fairvalueat31December2020 | |||
| Level1 | Level2 | Level3 | Total | |
| Structureddepositsandfinancialproducts | 314,013,869.86 | 314,013,869.86 | ||
| (b)Otherequityinstrumentinvestment | 10,176,617.20 | 10,176,617.20 | ||
| Totalassetsmeasuredatfairvalueonarecurringbasis | 324,190,487.06 | 324,190,487.06 | ||
Thefairvalueoffinancialinstrumentstradedinanactivemarketisbasedonquotedmarketpricesatthereportingdate.Thefairvalueoffinancialinstrumentsnottradedinanactivemarketisdeterminedbyusingvaluationtechniques.SpecificvaluationtechniquesusedtovaluetheabovefinancialinstrumentsincludediscountedcashflowandmarketapproachtocomparableCompanymodel.Inputsinthevaluationtechniqueincluderisk-freeinterestrates,benchmarkinterestrates,exchangerates,creditspreads,liquiditypremiums,discountforlackofliquidity.
9.2ValuationTechnique(s),QualitativeandQuantitativeInformationabouttheSignificantInputsUsedforFairValueMeasurementinLevel3onaRecurringorNonrecurringBasisThetradingfinancialassetsarethestructureddepositsandfinancialproductspurchased.Thefuturecashflowispredictedbytheexpectedrateofreturn,andtheunobservableestimateistheexpectedrateofreturn.Asthebusinessenvironment,operationandfinancialsituationoftheinvestedenterpriseChinaPudongDevelopmentMachineryIndustryCo.,Ltd.havenotchangedsignificantly,theCompanymeasurestheinvestmentcostasareasonableestimateofthefairvalue.Note10.RELATEDPARTIESANDRELATEDPARTYTRANSACTIONSRecognitionofrelatedparties:TheCompanyhascontrolorjointcontrolof,orexercisesignificantinfluenceoveranotherparty;ortheCompanyiscontrolledorjointlycontrolled,orsignificantinfluencedbyanotherparty.
10.1GeneralInformationoftheParentCompany
| Nameoftheparent | Registeredaddress | Natureofthebusiness | Registeredcapital | PercentageofequityinterestsintheCompany(%) | VotingrightsintheCompany(%) |
| ShenzhenSDGGroupCo.,Ltd. | Shenzhen | Realestatedevelopmentandmanagement, | 3,582.82million | 49.09 | 49.09 |
(1)RemarksontheparentCompanyShenzhenSDGGroupCo.,Ltd.wasinvestedbytheState-ownedAssetsSupervisionandAdministrationCommissionofthePeople’sGovernmentofShenzhenMunicipal(the“ShenzhenSASAC”)andestablishedonAugust1,1981.ShenzhenSDGGroupCo.,Ltd.currentlyholdsabusinesslicensewithunifiedsocialcreditcodeof91440300192194195C,withregisteredcapitalofCNY3,582.82million.
(2)TheCompany’sultimatecontrollingpartyisShenzhenSASAC.
10.2GeneralInformationofSubsidiariesDetailsofthesubsidiariespleaserefertoNotes7INTERESTSINOTHERENTITIES.
10.3JointVenturesandAssociatesoftheCompany(a)Generalinformationofsignificantjointventuresandassociates
DetailsofsignificantjointventuresandassociatespleaserefertoNotes7INTERESTSINOTHERENTITIES(b)DetailsofotherjointventuresorassociatestradingwithorwithoutstandingtotheCompanyduringthereportingperiod
domesticbusinessName
| Name | RelationshipwiththeCompany |
| 深圳市新永通汽车服务有限公司(ShenzhenXinyongtongDongxiaoAutomobileServiceCo.,Ltd.*) | Associate |
| 深圳市特力新永通汽车服务有限公司(ShenzhenTellusXinyongtongAutomobileServiceCo.,Ltd.*) | Associate |
| 深圳市新永通东晓汽车服务有限公司(ShenzhenXinyongtongDongxiaoAutomobileServiceCo.,Ltd.*) | Associateoriginally,transferredincurrentperiod |
| 深圳特力汽车服务连锁有限公司(ShenzhenTellusAutomobileServicesChainCo.,Ltd.*) | Associate |
| 深圳市永通信达检测设备有限责任公司(ShenzhenYongtongXindaInspectionEquipmentCo.,Ltd.*) | Associate |
| 深圳市先导新材料有限公司(ShenzhenXiandaoNewMaterialsCo.,Ltd.*) | Associate |
| 深圳市特力行投资有限公司(ShenzhenTellusXingInvestmentCo.,Ltd.*) | Jointventure |
10.4OtherRelatedPartiesoftheCompany
| Name | RelationshipwiththeCompany |
| 深圳市特发小额贷款有限公司(ShenzhenSDGMicrofinanceCo.,Ltd.*) | HoldingsubsidiaryoftheparentCompany |
| 深圳市特发天鹅实业公司(ShenzhenSDGSwanIndustrialCo.,Ltd.*) | HoldingsubsidiaryoftheparentCompany |
| 深圳市机械设备进出口公司(ShenzhenMachineryandEquipmentImportandExportCo.,Ltd.*) | HoldingsubsidiaryoftheparentCompany |
| 深圳市特发地产有限公司(ShenzhenSDGRealEstateCo.,Ltd.*) | HoldingsubsidiaryoftheparentCompany |
| 香港裕嘉投资有限公司(HongKongYujiaInvestmentCo.,Ltd.*) | HoldingsubsidiaryoftheparentCompany |
| 深圳市特发工程管理有限责任公司(ShenzhenSDGEngineeringManagementCo.,Ltd.*) | HoldingsubsidiaryoftheparentCompany |
| 深圳市特力阳春房地产公司(ShenzhenTellusYangchunRealEstateCo.,Ltd.*) | HoldingsubsidiaryoftheparentCompany |
| 深圳龙岗特力房地产公司(ShenzhenLonggangTellusRealEstateCo.,Ltd.*) | HoldingsubsidiaryoftheparentCompany |
| 深圳市特发特力物业管理有限公司(ShenzhenSDGTellusPropertyManagementCo.,Ltd.*) | HoldingsubsidiaryoftheparentCompany |
| 深圳市特发服务股份有限公司珠宝园分公司(ShenzhenSDGServiceCo.,Ltd.JewelryParkBranch*) | HoldingsubsidiaryoftheparentCompany |
| 安徽金尊珠宝有限公司(AnhuiJinzunJewelryCo.,Ltd.*) | Participatingshareholder |
| 汉成能源集团有限公司(HubeiHan’sIndustryInvestmentCo.,Ltd.*) | Shareholderofsignificantassociates |
10.5RelatedPartyTransactions(a)Purchasesorsalesofgoods,renderingorreceivingofservices
Purchasesofgoods,receivingofservices:
| Relatedparties | Natureofthetransaction(s) | 2020 | 2019 |
| 深圳市特发工程管理有限责任公司(ShenzhenSDGEngineeringManagementCo.,Ltd.*) | Receivingofservices | 838,867.91 | 354,705.66 |
| 深圳市特发特力物业管理有限公司(ShenzhenSDGTellusPropertyManagementCo.,Ltd.*) | Receivingofservices | 14,396,112.96 | 13,609,599.18 |
| 深圳市特发服务股份有限公司珠宝园分公司(ShenzhenSDGServiceCo.,Ltd.JewelryParkBranch) | Receivingofservices | 1,046,227.65 | 336,006.14 |
Salesofgoodsandrenderingofservices:
| Relatedparties | Natureofthetransaction(s) | 2020 | 2019 |
| 深圳市特发小额贷款有限公司(ShenzhenSDGMicrofinanceCo.,Ltd.*) | Renderingofservices | 161,205.25 | 161,205.24 |
| 深圳市特发特力物业管理有限公司(ShenzhenSDGTellusPropertyManagementCo.,Ltd.*) | Renderingofservices | 6,868.14 | 4,784.39 |
(b)LeasesTheCompanyaslessor:
| Thelessee | Typeofassetsleased | 2020 | 2019 |
| 深圳市仁孚特力汽车服务有限公司(ShenzhenRenfuTellusAutomobilesServiceCo.,Ltd.*) | Houseleasing | 3,857,142.90 | 5,047,619.20 |
| 深圳市新永通汽车服务有限公司(ShenzhenXinyongtongAutomobileServiceCo.,Ltd.*) | Houseleasing | 527,029.51 | 713,410.48 |
| 深圳市新永通东晓汽车服务有限公 | Houseleasing | 173,534.28 | 523,285.74 |
| 司(ShenzhenXinyongtongDongxiaoAutomobileServiceCo.,Ltd.*) | |||
| 深圳市特发小额贷款有限公司(ShenzhenSDGMicrofinanceCo.,Ltd.*) | Houseleasing | 975,808.45 | 1,409,263.84 |
| 深圳市特发特力物业管理有限公司(ShenzhenSDGTellusPropertyManagementCo.,Ltd.*) | Houseleasing | 44,754.54 | 56,586.66 |
| 深圳市特发服务股份有限公司珠宝园分公司(ShenzhenSDGServiceCo.,Ltd.JewelryParkBranch*) | Houseleasing | 1,801,091.36 | 1,014,501.78 |
(c)Callloansbetweenrelatedparties
| Relatedparties | Amount | Effectivedate | Expirydate | Notes |
| Borrowings | ||||
| 深圳市特发集团有限公司(ShenzhenSDGGroupCo.,Ltd.*) | 24,800,000.00 | 04/14/2020 | 05/14/2020 | Nointerest |
| 汉成能源集团有限公司(HubeiHan’sIndustryInvestmentCo.,Ltd.*) | 51,000,000.00 | 07/17/2020 | CNY1,000,000.00interestpayableincluded | |
(d)Keymanagementpersonnelcompensation
| Items | 2020 | 2019 |
| Keymanagementpersonnelcompensation | 6,954,700.00 | 6,583,600.00 |
10.6ReceivablesandPayableswithRelatedParties(a)Receivables
| Items | Relatedparties | Closingbalance | Openingbalance | ||
| Bookbalance | Provisionforbaddebts | Bookbalance | Provisionforbaddebts | ||
| Accounts | 深圳市新永通汽车服务有 | 927,602.00 | 927,602.00 | 927,602.00 | 927,602.00 |
| Items | Relatedparties | Closingbalance | Openingbalance | ||
| Bookbalance | Provisionforbaddebts | Bookbalance | Provisionforbaddebts | ||
| receivable | 限公司(ShenzhenXinyongtongAutomobileServiceCo.,Ltd.*） | ||||
| 深圳市新永通东晓汽车服务有限公司(ShenzhenXinyongtongDongxiaoAutomobileServiceCo.,Ltd.*) | 680,400.00 | 680,400.00 | |||
| 深圳市特发小额贷款有限公司(ShenzhenSDGMicrofinanceCo.,Ltd.*) | 115,481.80 | 1,154.82 | 283,583.81 | 2,835.84 | |
| Subtotal | 1,043,083.80 | 928,756.82 | 1,891,585.81 | 1,610,837.84 | |
| Dividendreceivable | 深圳东风汽车有限公司(ShenzhenDongfengAutomobileCo.,Ltd.*) | 24,100,548.07 | 39,100,548.07 | ||
| Subtotal | 24,100,548.07 | 39,100,548.07 | |||
| Otherreceivables | 深圳特力汽车服务连锁有限公司(ShenzhenTellusAutomobileServicesChainCo.,Ltd.*) | 1,359,297.00 | 1,359,297.00 | 1,359,297.00 | 1,359,297.00 |
| 深圳市永通信达检测设备有限责任公司(ShenzhenYongtongXindaInspectionEquipmentCo.,Ltd.*) | 531,882.24 | 531,882.24 | 531,882.24 | 531,882.24 | |
| 深圳市先导新材料有限公司(ShenzhenXiandaoNewMaterialsCo.,Ltd.*) | 660,790.09 | 660,790.09 | 660,790.09 | 660,790.09 | |
| 深圳市特力新永通汽车服 | 114,776.33 | 114,776.33 | 114,776.33 | 114,776.33 | |
| Items | Relatedparties | Closingbalance | Openingbalance | ||
| Bookbalance | Provisionforbaddebts | Bookbalance | Provisionforbaddebts | ||
| 务有限公司(ShenzhenTellusXinyongtongAutomobileServiceCo.,Ltd.*) | |||||
| 深圳市特力行投资有限公司(ShenzhenTellusXingInvestmentCo.,Ltd.*) | 55,125.04 | 551.25 | |||
| Subtotal | 2,666,745.66 | 2,666,745.66 | 2,721,870.70 | 2,667,296.91 | |
| Long-termreceivables | 深圳特力汽车服务连锁有限公司(ShenzhenTellusAutomobileServicesChainCo.,Ltd.*) | 2,179,203.68 | 2,179,203.68 | 2,179,203.68 | 2,179,203.68 |
| Subtotal | 2,179,203.68 | 2,179,203.68 | 2,179,203.68 | 2,179,203.68 | |
(b)Payables
| Items | Relatedparties | Closingbalance | Openingbalance |
| Accountspayable | 深圳市特发地产有限公司(ShenzhenSDGRealEstateCo.,Ltd.*) | 6,054,855.46 | 6,054,855.46 |
| 深圳市机械设备进出口公司(ShenzhenMachineryandEquipmentImportandExportCo.,Ltd. | 45,300.00 | 45,300.00 | |
| 深圳特力吉盟投资有限公司(ShenzhenTellusJimengInvestmentCo.,Ltd. | 200,000.00 | 200,000.00 | |
| 深圳市特发工程管理有限责任公司(ShenzhenSDGEngineeringManagementCo.,Ltd. | 12,905.66 | 42,205.66 | |
| 深圳市特发服务股份有限公司珠宝园分公司(ShenzhenSDGServiceCo.,Ltd.JewelryParkBranch | 36,103.11 |
| Items | Relatedparties | Closingbalance | Openingbalance |
| 深圳市特发特力物业管理有限公司(ShenzhenSDGTellusPropertyManagementCo.,Ltd. | 2,516,323.68 | ||
| Subtotal | 8,829,384.80 | 6,378,464.23 | |
| AdvancePayment | 深圳市仁孚特力汽车服务有限公司(ShenzhenRenfuTellusAutomobilesServiceCo.,Ltd. | 492,095.20 | |
| Subtotal | 492,095.20 | ||
| Otherpayables | 香港裕嘉投资有限公司(HongKongYujiaInvestmentCo.,Ltd.*) | 2,172,091.54 | 2,172,091.54 |
| 深圳市特发天鹅实业公司(ShenzhenSDGSwanIndustrialCo.,Ltd.*) | 20,703.25 | 20,703.25 | |
| 深圳市机械设备进出口公司(ShenzhenMachineryandEquipmentImportandExportCo.,Ltd.*) | 1,554,196.80 | 1,554,196.80 | |
| 深圳市特发集团有限公司(ShenzhenSDGGroupCo.,Ltd.*) | 17,429,247.94 | 20,378,046.74 | |
| 深圳龙岗特力房地产公司(ShenzhenLonggangTellusRealEstateCo.,Ltd.*) | 1,095,742.50 | 1,095,742.50 | |
| 深圳市特力阳春房地产公司(ShenzhenTellusYangchunRealEstateCo.,Ltd.*) | 476,217.49 | 476,217.49 | |
| 深圳市特力行投资有限公司(ShenzhenTellusXingInvestmentCo.,Ltd.*) | 122,978.63 | ||
| 深圳市永通信达检测设备有限责任公司(ShenzhenYongtongXindaInspectionEquipmentCo.,Ltd.*) | 5,600.00 | 29,940.00 | |
| 安徽金尊珠宝有限公司(AnhuiJinzunJewelryCo.,Ltd.*) | 1,330,000.00 | 1,330,000.00 | |
| 深圳市特发特力物业管理有限公司(ShenzhenSDGTellusPropertyManagement | 124,550.87 | 192,227.98 |
| Items | Relatedparties | Closingbalance | Openingbalance |
| Co.,Ltd.*) | |||
| 深圳市特发服务股份有限公司珠宝园分公司(ShenzhenSDGServiceCo.,Ltd.JewelryParkBranch) | 6,598.00 | ||
| 深圳市仁孚特力汽车服务有限公司(ShenzhenRenfuTellusAutomobilesServiceCo.,Ltd.*) | 833,334.00 | 833,334.00 | |
| 深圳市特发小额贷款有限公司(ShenzhenSDGMicrofinanceCo.,Ltd.*) | 227,836.80 | 227,836.80 | |
| 深圳市特发工程管理有限责任公司(ShenzhenSDGEngineeringManagementCo.,Ltd.*) | 58,100.00 | ||
| 汉成能源集团有限公司(HubeiHan’sIndustryInvestmentCo.,Ltd.*) | 51,000,000.00 | ||
| Subtotal | 76,457,197.82 | 28,310,337.10 |
Note11.COMMITMENTSANDCONTINGENCIES
11.1SignificantCommitments(a)Capitalcommitments:
| Capitalcommitmentssignedbutnotyetrecognizedinthefinancialstatements | 31December2020 | 31December2019 |
| Largecontract | 220,523,772.58 |
11.2ContingenciesSignificantcontingenciesexistingatthebalancesheetdate:
InOctober2005,theCompanyfiledalawsuittotheShenzhenLuohuDistrictPeople’sCourt,requesting金田实业（集团）股份有限公司(GintianIndustry(Group)Co.,Ltd.
?
,hereinafterreferredtoas“GintianCompany”)tocompensateitsmandatorydeductionduetotheguaranteeprovidedforbankborrowingsofGintianCompany.ThetotalamountwasCNY4,081,830,including
?
TheEnglishnameisforidentificationpurposeonly.
principalofCNY3million,interestsofCNY1,051,380,litigationcostsofCNY25,160,andexecutioncostsofCNY5,290.ThecourthasdecidedinfavoroftheCompany,andtheCompanyhasappliedforenforcement.Thefundsdeductedinpreviousyearshavebeenaccountedforaslosses.InApril2006,深圳发展银行(ShenzhenDevelopmentBankCo.,Ltd.
*
)filedalawsuitagainstGintianCompanyforoverduerepaymentofUSD2millionandagainsttheCompanyastheguarantor.AfterpayingtheprincipalofUSD2millionandintereststhereofonbehalfofGintianCompany,theCompanyfiledanappealtoShenzhenLuohuDistrictPeople’sCourt,requestingGintianCompanytorepayfundofUSD2,960,490andintereststhereof.ThroughthemediationfromShenzhenLuohuDistrictPeople’sCourtin2008,acivilmediationagreement((2008)ShenLuoFaMinYiChuZiNo.937)wasissued,anditwasagreedthat:GintianCompanyshallpaytheCompanyUSD2,960,490beforeOctober31,2008,withinterestsexempted;ifGintianCompanyfailstomakepaymentontime,itshallpaytheliquidateddamagesforoverduepaymentbasedontheCNYbenchmarkloaninterestratepublishedbythePeople’sBankofChinaforthesameperiod.GintianCompanywentthroughbankruptcyreorganizationprocess.OnJanuary29,2016,theShenzhenIntermediatePeople’sCourtruledthatthereorganizationplanofGintianCompanywascompletedandthebankruptcyprocesswasterminated.GintianCompanyshallmakeadditionalallocationstocreditorsincludingtheCompanyaccordingtothereorganizationplan,andtheCompanyshouldobtaincashofCNY325,000,Asharesof427,604sharesandBsharesof163,886sharesofGintianCompany.Asofthedateofapprovalforissuingthisfinancialreport,theCompanyhasn’treceivedtheallocatedassets.TheCompanyfiledalawsuittoQianhaiCooperationDistrictPeople’sCourtonAugust15,2018afterrepeatedlyfailedtocommunicatewithJintianCompanyaboutthecashandequitythatshouldbedistributedtotheCompanyafterthebankruptcyandreorganizationofJintianCompany.ThecourtorderedonFebruary13,2020((2018)Yue0391minchuNo.3104civiljudgment)JintianCompanytopayCNY325,000totheCompanywithinfivedaysafterthejudgmentcameintoforce,and427604Asharesand163886BsharesofJintianCompany(ifthesharescannotbedelivered,theycanbepaidafterbeingconvertedintocashaccordingtothestockmarketpriceonthelastdayoftheperformanceperiod).OnJanuary7,2021,theCompanyappliedforcompulsoryexecutionbyQianhaiCooperationDistrictPeople’sCourt.Asoftheapprovaldateofthisfinancialreport,theCompanyhasnotreceivedtheexecutionpayment.Note12.EVENTSAFTERTHEREPORTINGPERIOD
12.1ProfitDistributionAccordingtotheprofitdistributionplanfor2020approvedbythe10thformalmeetingoftheninthboardofdirectorsonApril15,2021,theCompanyplanstodistributecashdividendofCNY0.06(taxincluded)toallshareholdersforevery10shares,with431,058,320totalsharesasthebaseasofDecember31,2020,andatotalofCNY2,586,349.92incash,withoutbonussharesor
capitalreserve.TheaboveprofitdistributionplanhasyettobereviewedandapprovedbythegeneralmeetingofshareholdersoftheCompany.
12.2DescriptionofothereventsafterthebalancesheetdateOnJanuary14,2021,the19thinterimmeetingoftheninthboardofdirectorsoftheCompanydeliberatedandpassed“Proposalonliquidationandcancellationofaholdingsubsidiary,SichuanTelijewelryTechnologyCo.,Ltd.,”,andauthorizedthemanagementtohandlemattersrelatedtoliquidationandcancellationinaccordancewithlegalprocedures.AsofApril15,2021(thereportdateapprovedbytheboardofdirectors),theCompanyhasnoothereventsafterthebalancesheetdatethatshouldbedisclosed.Note13.OTHERSIGNIFICANTMATTERS
13.1SegmentInformation(a)BasisofidentificationandaccountingpoliciesofreportablesegmentsReportablesegmentsareidentifiedbasedonoperatingsegmentswhicharedeterminedbasedonthestructureoftheCompany’sinternalorganization,managementrequirementsandinternalreportingsystem.TheCompanyidentifiedreportablesegmentsbasedonindustry.Businessperformanceofautosales,vehiclemaintenanceandinspection,leasingandservices,andwholesaleandretailofjewelrywereevaluatedseparately.Assetsandliabilitiessharedbydifferentsegmentsareallocatedbetweensegmentsproportionatetotheirrespectivesize.(b)Financialinformationofreportablesegments
| Items | Autosales | Vehiclemaintenanceandinspection | Leasingandservices | Salesandserviceofjewelry | Inter-segmentoffsetting | Total |
| Revenuefrommainoperations | 204,928,883.35 | 72,248,549.73 | 143,987,615.85 | 34,855,458.03 | -39,713,909.82 | 416,306,597.14 |
| Costofmainoperations | 191,680,818.07 | 62,855,217.99 | 66,296,404.54 | 35,405,982.74 | -39,690,929.63 | 316,547,493.71 |
| Totalassets | 43,853,056.13 | 112,658,122.35 | 2,824,685,628.78 | 67,046,534.86 | -1,339,801,040.97 | 1,708,442,301.15 |
| Totalliabilities | 44,109,734.73 | 74,794,120.79 | 744,795,208.68 | 7,442,184.42 | -547,345,049.28 | 323,796,199.34 |
13.2OthersOnJuly17,2020,the17thinterimmeetingoftheninthboardofdirectorsofthecompanydeliberatedandpassed“Proposalon
signingtheagreementofintentbetweenthesubsidiaryandHubeiHans’IndustryInvestmentCo.,Ltd.”Accordingtotheagreementsignedonthesamedaybetweenthecompany'ssubsidiaryShenzhenAutomobileIndustryandTradeCo.,Ltd.(PartyA)andHubeiHans’IndustryInvestmentCo.,Ltd.(PartyB),PartyBundertakestoparticipateintheprojectofPartyA'splantosell25%equityofShenzhenDongfengMotorCo.,Ltd.throughShanghaiUnitedPropertyExchangeinaccordancewiththelawandregulations,andtransferthetargetequitywiththepricethatisnotlessthan1/2ofthetransactionpriceof50%equityofShenzhenDongfengMotorCo.,Ltd.soldbyDongfengspecialCommercialVehicleCo.,Ltd.transferredbyPartyB,andisnotlessthantheevaluationmadebythethird-partyintermediaryselectedorrecognizedbyPartyA.PartyBshallpayaperformancebondofCNY50,000,000.00toPartyA,andtheinterestofthebondshallbecalculatedaccordingtotheagreement.ShenzhenAutomobileIndustryandTradeCo.,Ltd.hasreceivedtheperformancebondofCNY50,000,000.00fromHubeiHans’IndustryInvestmentCo.,Ltd.inJuly2020.AsofDecember31,2020,theaccruedinterestofthebondisCNY1,000,000.00.Uptonow,ShenzhenAutomobileIndustryandTradeCo.,Ltd.hasnotbeenpubliclylistedtoselltheaboveshares.Note14.NOTESTOTHEMAINITEMSOFTHEFINANCIALSTATEMENTSOFTHEPARENTCOMPANY
14.1AccountsReceivable
(1)Ageanalysis
| Ages | Dec31,2020 | Dec31,2019 |
| Within1year | 248,723.43 | 208,798.75 |
| 1–2years | 3,360.00 | |
| 2–3years | ||
| Over3years | 484,803.08 | 484,803.08 |
| Subtotal | 736,886.51 | 693,601.83 |
| Less:provisionforbaddebts | 487,458.31 | 486,891.07 |
| Total | 249,428.20 | 206,710.76 |
(2)Detailsoncategories
| Categories | Closingbalance | ||||
| Bookbalance | Provisionforbaddebts | Carryingamount | |||
| Amount | %tototal | Amount | Provisionproportion(%) | ||
| Receivableswithprovisionmadeonanindividualbasis | 484,803.08 | 65.79 | 484,803.08 | 100.00 | 0.00 |
| Categories | Closingbalance | ||||
| Bookbalance | Provisionforbaddebts | Carryingamount | |||
| Amount | %tototal | Amount | Provisionproportion(%) | ||
| Receivableswithprovisionmadeonacollectivebasis | 252,083.43 | 34.21 | 2,655.23 | 1.05 | 249,428.20 |
| Total | 252,083.43 | 34.21 | 2,655.23 | 1.05 | 249,428.20 |
(Continued)
| Categories | Openingbalance | ||
| Bookbalance | Provisionforbaddebts | Carryingamount | |
| Amount | %tototal | Amount | Provisionproportion(%) | ||
| Receivableswithprovisionmadeonanindividualbasis | 484,803.08 | 69.90 | 484,803.08 | 100.00 | |
| Receivableswithprovisionmadeonacollectivebasis | 208,798.75 | 30.10 | 2,087.99 | 1.00 | 206,710.76 |
| Total | 693,601.83 | 100.00 | 486,891.07 | 70.20 | 206,710.76 |
a)Accountsreceivablewithprovisionmadeonanindividualbasis
| Debtors | Bookbalance | Provisionforbaddebts | Provisionproportion(%) | Reasonsforprovisionmade |
| 深圳笔架山娱乐公司(ShenzhenBijiashanEntertainmentCompany?) | 172,000.00 | 172,000.00 | 100.00 | Expectedtobeunrecoverableduetolongages |
| 龚炎清(GongYanqing) | 97,806.64 | 97,806.64 | 100.00 | Expectedtobeunrecoverableduetolongages |
| 广州乐敏电脑中心(GuangzhouLemin | 86,940.00 | 86,940.00 | 100.00 | Expectedtobeunrecoverabledue |
?
TheEnglishnamesareforidentificationpurposeonly.
| Debtors | Bookbalance | Provisionforbaddebts | Provisionproportion(%) | Reasonsforprovisionmade |
| ComputerCenter*) | tolongages | |||
| Others | 128,056.44 | 128,056.44 | 100.00 | Expectedtobeunrecoverableduetolongages |
| Subtotal | 484,803.08 | 484,803.08 | 100.00 |
b)Accountsreceivablewithprovisionforbaddebtsmadeonacollectivebasis
| Ages | Dec31,2020 | ||
| Bookbalance | Provisionforbaddebts | Provisionproportion(%) | |
| Within1year | 248,723.43 | 2,487.23 | 1.00 |
| 1–2Years | 3,360.00 | 168.00 | 5.00 |
| Subtotal | 252,083.43 | 2,655.23 | 1.05 |
(continued)
| Ages | Dec31,2019 | ||
| Bookbalance | Provisionforbaddebts | Provisionproportion(%) | |
| Within1year | 208,798.75 | 2,087.99 | 1.00 |
| Subtotal | 208,798.75 | 2,087.99 | 1.00 |
(3)Changesinprovisionforbaddebts
| Items | Openingbalance | Increase | Decrease | Closingbalance | ||||
| Accrual | Recovery | Others | Reversal | Written-off | Others | |||
| Receivableswithprovisionmadeonanindividualbasis | 484,803.08 | 484,803.08 | ||||||
| Items | Openingbalance | Increase | Decrease | Closingbalance | ||||
| Accrual | Recovery | Others | Reversal | Written-off | Others | |||
| Receivableswithprovisionmadeonacollectivebasis | 2,087.99 | 567.24 | 2,655.23 | |||||
| Subtotal | 486,891.07 | 567.24 | 487,458.31 | |||||
(4)Detailsofthetop5debtorswithlargestbalances
| Debtors | Bookbalance | Proportiontothetotalbalanceofaccountsreceivable(%) | Provisionforbaddebts |
| 深圳市金城银域珠宝首饰有限公司(ShenzhenJinchengYinyuJewelryCo.,Ltd.?) | 248,723.43 | 33.75 | 2,487.23 |
| 深圳笔架山娱乐公司(ShenzhenBijiashanEntertainmentCompany) | 172,000.00 | 23.34 | 172,000.00 |
| 龚炎清(GongYanqing) | 97,806.64 | 13.27 | 97,806.64 |
| 广州乐敏电脑中心(GuangzhouLeminComputerCenter) | 86,940.00 | 11.80 | 86,940.00 |
| 兰州大船电子公司(LanzhouDachuanElectronicsCo.,Ltd.*) | 37,308.00 | 5.06 | 37,308.00 |
| Subtotal | 642,778.07 | 87.22 | 396,541.87 |
14.2OtherReceivables
(1)Detailsbycategory
| Items | Closingbalance | Openingbalance |
| Interestreceivable |
?
TheEnglishnamesareforidentificationpurposeonly.
| Items | Closingbalance | Openingbalance |
| Dividendreceivable | 547,184.35 | 547,184.35 |
| Otherreceivables | 126,422,912.78 | 115,490,588.74 |
| Total | 126,970,097.13 | 116,037,773.09 |
(2)Dividendreceivable
(a)Details
| Items | Closingbalance | Openingbalance |
| ChinaPerfectMachineryIndustryCorp.,Ltd. | 547,184.35 | 547,184.35 |
| Total | 547,184.35 | 547,184.35 |
(b)Dividendreceivableover1year
| Items | Closingbalance | Ages | Reasons | Notes |
| ChinaPerfectMachineryIndustryCorp.,Ltd. | 547,184.35 | 1–2years | notyetpaid | Noimpairment |
| Total | 547,184.35 |
(3)Otherreceivables
(a)Otherreceivablescategorizedbyages
| Ages | ClosingBalance | OpeningBalance |
| Within1year | 126,378,704.11 | 115,387,153.52 |
| 1–2years | 46,698.00 | |
| 2–3years | ||
| Over3years | 13,588,345.66 | 14,334,831.39 |
| Subtotal | 140,013,747.77 | 129,721,984.91 |
| Less:provisionforbaddebts | 13,590,834.99 | 14,231,396.17 |
| Total | 126,422,912.78 | 115,490,588.74 |
(b)Otherreceivablescategorizedbynature
| Natureofreceivables | Closingbalance | Openingbalance |
| Temporaryadvancepaymentreceivable | 13,650,486.51 | 14,450,215.85 |
| Relatedtransactionswithintheconsolidationscope | 126,363,261.26 | 115,271,769.06 |
| Total | 140,013,747.77 | 129,721,984.91 |
(c)OtherreceivablescategorizedbymethodsofprovisionforbaddebtsA.Asof2020-12-31,provisionforbaddebtsaccordingtothemodelofphaseI/II/III:
| Phase | Closingbalance | Provisionforbaddebts | Openingbalance |
| I | 126,425,402.11 | 2,489.33 | 126,422,912.78 |
| II | |||
| III | 13,588,345.66 | 13,588,345.66 | |
| Total | 140,013,747.77 | 13,590,834.99 | 126,422,912.78 |
Asof2020-12-31,provisionforbaddebtsatphaseI:
| Catagories | BookBalance | Provisionproportion(%) | Provisionforbaddebts | CarryingAmount | Reasonsforprovisionmade |
| Receivableswithprovisionmadeonanindividualbasis | |||||
| Receivableswithprovisionmadeonacollectivebasis | 126,425,402.11 | 0.00 | 2,489.33 | 126,422,912.78 | |
| 3.Portfoliogroupedwithages | 62,140.85 | 4.01 | 2,489.33 | 59,651.52 | nodramaticcreditriskchangeafterconfirmed |
| 4.Portfoliogroupedwithbalancesduefrom | 126,363,261.26 | 126,363,261.26 | nodramaticcreditriskchangeafter |
| Catagories | BookBalance | Provisionproportion(%) | Provisionforbaddebts | CarryingAmount | Reasonsforprovisionmade |
| consolidatedparties | confirmed | ||||
| Total | 126,425,402.11 | 4.01 | 2,489.33 | 126,422,912.78 |
Asof2020-12-31,provisionforbaddebtsatphaseIII:
| Catagories | BookBalance | Provisionproportion(%) | Provisionforbaddebts | CarryingAmount | Reasonsforprovisionmade |
| Receivableswithprovisionmadeonanindividualbasis | 13,588,345.66 | 100.00 | 13,588,345.66 | creditriskchangedramaticallyafterconfirmed | |
| Total | 13,588,345.66 | 100.00 | 13,588,345.66 |
B.Asof2019-12-31,provisionforbaddebtsaccordingtothemodelofphaseI/II/III:
| Phase | Closingbalance | Provisionforbaddebts | Openingbalance |
| I | 115,596,331.65 | 105,742.91 | 115,490,588.74 |
| II | |||
| III | 14,125,653.26 | 14,125,653.26 | |
| Total | 129,721,984.91 | 14,231,396.17 | 115,490,588.74 |
Asof2019-12-31,provisionforbaddebtsatphaseI:
| Catagories | BookBalance | Provisionproportion(%) | Provisionforbaddebts | CarryingAmount | Reasonsforprovisionmade |
| Receivableswithprovisionmadeonanindividualbasis | |||||
| Receivableswith | 115,596,331.65 | 0.09 | 105,742.91 | 115,490,588.74 |
| Catagories | BookBalance | Provisionproportion(%) | Provisionforbaddebts | CarryingAmount | Reasonsforprovisionmade |
| provisionmadeonacollectivebasis | |||||
| 3.Portfoliogroupedwithages | 324,562.59 | 32.58 | 105,742.91 | 218,819.68 | nodramaticcreditriskchangeafterconfirmed |
| 4.Portfoliogroupedwithbalancesduefromconsolidatedparties | 115,271,769.06 | 115,271,769.06 | |||
| Total | 115,596,331.65 | 0.09 | 105,742.91 | 115,490,588.74 |
Asof2019-12-31,provisionforbaddebtsatphaseIII:
| Catagories | BookBalance | Provisionproportion(%) | Provisionforbaddebts | CarryingAmount | Reasonsforprovisionmade |
| Receivableswithprovisionmadeonanindividualbasis | 14,125,653.26 | 100.00 | 14,125,653.26 | creditriskchangedramaticallyafterconfirmed | |
| Total | 14,125,653.26 | 100.00 | 14,125,653.26 |
Asof2020-12-31,otherreceivableswithprovisionmadeonanindividualbasis
| Debtors | Bookbalance | Provisionforbaddebts | Provisionproportion(%) |
| ShenzhenZhonghao(Group)Co.,Ltd. | 5,000,000.00 | 5,000,000.00 | 100.00 |
| JinbeiliHouseholdAppliancesCo.,Ltd. | 2,706,983.51 | 2,706,983.51 | 100.00 |
| ShenzhenPetrochemical(Group)Co.,Ltd. | 1,903,819.59 | 1,903,819.59 | 100.00 |
| ShenzhenSDGHuatong | 1,212,373.79 | 1,212,373.79 | 100.00 |
| Debtors | Bookbalance | Provisionforbaddebts | Provisionproportion(%) |
| PackagingCo.,Ltd. | |||
| ShenzhenXiandaoNewMaterialsCo.,Ltd. | 660,790.09 | 660,790.09 | 100.00 |
| Others | 2,104,378.68 | 2,104,378.68 | 100.00 |
| Total | 13,588,345.66 | 13,588,345.66 | 100.00 |
Asof2020-12-31,otherreceivableswithprovisionmadeonancollectivebasis
| Catagories | BookBalance | Provisionproportion(%) | Provisionforbaddebts |
| 3.Portfoliogroupedwithages | 62,140.85 | 2,489.33 | 4.01 |
| Including:Within1year | 15,442.85 | 154.43 | 1.00 |
| 1–2years | 46,698.00 | 2,334.90 | 5.00 |
| 2–3years | |||
| Over3years | |||
| 4.Portfoliogroupedwithbalancesduefromconsolidatedparties | 126,363,261.26 | ||
| Total | 126,425,402.11 | 2,489.33 | 0.00 |
Asof2019-12-31,otherreceivableswithprovisionmadeonancollectivebasis
| Catagories | BookBalance | Provisionproportion(%) | Provisionforbaddebts |
| 5.Portfoliogroupedwithages | 324,562.59 | 105,742.91 | 32.58 |
| Including:Within1year | 115,384.46 | 1,153.84 | 1.00 |
| 1–2years | |||
| 2–3years | |||
| Over3years | 209,178.13 | 104,589.07 | 50.00 |
| Catagories | BookBalance | Provisionproportion(%) | Provisionforbaddebts |
| 6.Portfoliogroupedwithbalancesduefromconsolidatedparties | 115,271,769.06 | ||
| Total | 115,596,331.65 | 105,742.91 | 0.09 |
(d)Changesinprovisionforbaddebts
| Items | PhaseI | PhaseII | PhaseIII | Total |
| 12?monthexpectedcreditlosses | Lifetimeexpectedcreditlosses(creditnotimpaired) | Lifetimeexpectedcreditlosses(creditimpaired) | ||
| Openingbalance | 115,596,331.65 | 14,125,653.26 | 129,721,984.91 | |
| Openingbalanceincurrentperiod | ||||
| --TransferredtophaseII | ||||
| --TransferredtophaseIII | ||||
| --ReversedtophaseII | ||||
| --ReversedtophaseI | ||||
| Provisionmadeincurrentperiod | 10,829,070.46 | -44,236.71 | 10,784,833.75 | |
| Provisionrecoveredincurrentperiod | 493,070.89 | 493,070.89 | ||
| Provisionreversedincurrentperiod | ||||
| Provisionwritten-offincurrentperiod | ||||
| Otherchanges |
| Items | PhaseI | PhaseII | PhaseIII | Total |
| 12?monthexpectedcreditlosses | Lifetimeexpectedcreditlosses(creditnotimpaired) | Lifetimeexpectedcreditlosses(creditimpaired) | ||
| Closingbalance | 126,425,402.11 | 13,588,345.66 | 140,013,747.77 |
(e)Detailsofthetop5debtorswithlargestbalances
| Debtors | Natureofreceivables | Bookbalance | Ages | Proportiontothetotalbalanceofotherreceivables(%) | Provisionforbaddebts |
| ShenzhenZhongtianIndustrialCo.,Ltd. | Internalaccounts | 124,943,380.53 | Within1year | 89.24 | |
| ShenzhenZhonghao(Group)Co.,Ltd. | Currentaccounts | 5,000,000.00 | Over5years | 3.57 | 5,000,000.00 |
| JinbeiliHouseholdAppliancesCo.,Ltd. | Currentaccounts | 2,706,983.51 | Over5years | 1.93 | 2,706,983.51 |
| ShenzhenPetrochemical(Group)Co.,Ltd. | Currentaccounts | 1,903,819.59 | Over5years | 1.36 | 1,903,819.59 |
| ShenzhenSDGHuatongPackagingCo.,Ltd. | Currentaccounts | 1,212,373.79 | Over5years | 0.87 | 1,212,373.79 |
| Subtotal | 135,766,557.42 | 96.97 | 10,823,176.89 |
14.3Long-termEquityInvestments
(1)Categories
| Items | Closingbalance | Openingbalance | ||||
| Bookbalance | Provisionforimpairment | Carryingamount | Bookbalance | Provisionforimpairment | Carryingamount | |
| Investmentsinsubsidiaries | 799,743,472.73 | 6,954,000.00 | 792,789,472.73 | 745,996,472.73 | 1,956,000.00 | 744,040,472.73 |
| Items | Closingbalance | Openingbalance | ||||
| Bookbalance | Provisionforimpairment | Carryingamount | Bookbalance | Provisionforimpairment | Carryingamount | |
| Investmentsinassociatesandjointventures | 93,758,474.47 | 9,787,162.32 | 83,971,312.15 | 125,101,730.19 | 9,787,162.32 | 115,314,567.87 |
| Total | 893,501,947.20 | 16,741,162.32 | 876,760,784.88 | 871,098,202.92 | 11,743,162.32 | 859,355,040.60 |
(2)Investmentsinsubsidiaries
| Investees | Openingbalance | Increase | Decrease | Closingbalance | Provisionforimpairmentmadeincurrentperiod | Closingbalanceofprovisionforimpairment |
| ShenzhenSDGTellusRealEstateCo.,Ltd. | 31,152,888.87 | 31,152,888.87 | ||||
| ShenzhenTellusChuangyingTechnologyCo.,Ltd. | 14,000,000.00 | 14,000,000.00 | ||||
| ShenzhenTellusXinyongtongAutomobileDevelopmentCo.,Ltd. | 57,672,885.22 | 57,672,885.22 | ||||
| ShenzhenZhongtianIndustrialCo.,Ltd. | 369,680,522.90 | 369,680,522.90 | ||||
| ShenzhenAutomobile | 126,251,071.57 | 126,251,071.57 |
| Investees | Openingbalance | Increase | Decrease | Closingbalance | Provisionforimpairmentmadeincurrentperiod | Closingbalanceofprovisionforimpairment |
| IndustryandTradeCo.,Ltd. | ||||||
| ShenzhenSDGHuariAutomobileEnterpriseCo.,Ltd. | 19,224,692.65 | 19,224,692.65 | ||||
| ShenzhenHuariToyotaAutoSalesServiceCo.,Ltd. | 1,807,411.52 | 1,807,411.52 | ||||
| ShenzhenXinyongtongAutoVehicleInspectionEquipmentCo.,Ltd. | 10,000,000.00 | 10,000,000.00 | ||||
| AnhuiTellusSeonJewelryInvestmentCo.,Ltd. | 4,998,000.00 | 4,998,000.00 | 4,998,000.00 | 4,998,000.00 | ||
| SichuanTellusJewelryTechnologyCo.,Ltd. | 100,000,000.00 | 100,000,000.00 | ||||
| ShenzhenTellusBaokuSupplyChainTechnologyCo.,Ltd. | 9,253,000.00 | 40,747,000.00 | 50,000,000.00 | |||
| ShenzhenHanecoTechnologiesCeramicsCo.,Ltd. | 1,956,000.00 | |||||
| ShenzhenJewelryIndustryServiceCo.,Ltd | 13,000,000.00 | 13,000,000.00 | ||||
| Subtotal | 744,040,472.73 | 53,747,000.00 | 4,998,000.0 | 792,789,472.73 | 4,998,000.0 | 6,954,000.00 |
| Investees | Openingbalance | Increase | Decrease | Closingbalance | Provisionforimpairmentmadeincurrentperiod | Closingbalanceofprovisionforimpairment |
| 0 | 0 |
Note:AstheCompanydecidedtoliquidateAnhuiTellusSeonJewelryInvestmentCo.,Ltd.,theimpairmentprovisionforbooklong-termequityinvestmentwasCNY4998000.00.SeeNote12EVENTSAFTERTHEREPORTINGPERIODtofordetails.
(3)Investmentsinassociatesandjointventures
| Investees | Openingbalance | Increase/Decrease | |||
| Investmentsincreased | Investmentsdecreased | Investmentincomerecognizedunderequitymethod | Adjustmentinothercomprehensiveincome | ||
| Jointventures | |||||
| ShenzhenTellusJimengInvestmentCo.,Ltd. | 70,155,383.50 | 35,000,000.00 | 10,511,357.63 | ||
| ShenzhenTellusXingInvestmentCo.,Ltd. | 11,845,452.17 | 851,972.71 | |||
| Subtotal | 82,000,835.67 | 35,000,000.00 | 11,363,330.34 | ||
| Associates | |||||
| ShenzhenRenfuTellusAutomobilesServiceCo.,Ltd. | 33,313,732.20 | 10,793,413.94 | |||
| HunanChangyangIndustrialCo.,Ltd. | |||||
| ShenzhenJiechengElectronicCo.,Ltd. | |||||
| ShenzhenXiandaoNewMaterialsCo.,Ltd. | |||||
| Subtotal | 33,313,732.20 | 10,793,413.94 | |||
| Total | 115,314,567.87 | 35,000,000.00 | 22,156,744.28 | ||
(Continued)
| Investees | Increase/Decrease | Closingbalance | Closingbalanceofprovisionforimpairment | |||
| Changesinotherequity | Cashdividend/profitdeclaredfordistribution | Provisionforimpairment | Others | |||
| Jointventures | ||||||
| ShenzhenTellusJimengInvestmentCo.,Ltd. | 8,000,000.00 | 37,666,741.13 | ||||
| ShenzhenTellusXingInvestmentCo.,Ltd. | 12,697,424.88 | |||||
| Subtotal | 8,000,000.00 | 50,364,166.01 | ||||
| Associates | ||||||
| ShenzhenRenfuTellusAutomobileServiceCo.,Ltd. | 10,500,000.00 | 33,607,146.14 | ||||
| HunanChangyangIndustrialCo.,Ltd. | 1,810,540.70 | |||||
| ShenzhenJiechengElectronicCo.,Ltd. | 3,225,000.00 | |||||
| ShenzhenXiandaoNewMaterialsCo.,Ltd. | 4,751,621.62 | |||||
| Subtotal | 10,500,000.00 | 33,607,146.14 | 9,787,162.32 | |||
| Total | 18,500,000.00 | 83,971,312.15 | 9,787,162.32 | |||
14.4Operatingrevenue/Operatingcost
| Items | Currentperiodcumulative | Precedingperiodcomparative | ||
| Revenue | Cost | Revenue | Cost | |
| Mainoperations | 37,241,063.15 | 10,754,749.28 | 38,042,399.39 | 3,772,642.43 |
| Total | 37,241,063.15 | 10,754,749.28 | 38,042,399.39 | 3,772,642.43 |
14.5InvestmentIncome
| Items | Currentperiodcumulative | Precedingperiodcomparative |
| 8,400,304.32 | ||
| Investmentincomefromlong-termequityinvestmentsunderequitymethod | 22,156,744.28 | 19,318,549.22 |
| Gainsondisposaloflong-termequityinvestments | 210,680,848.23 | |
| Investmentincomefromfinancialinstruments | 3,270,243.48 | 6,004,427.88 |
| Including:Financialassetsclassifiedasatfairvaluethroughprofitorloss | 3,270,243.48 | 6,004,427.88 |
| Otherequityinstrumentinvestments | 547,184.35 | |
| Investmentincomefromavailable-for-salefinancialassets | ||
| Total | 33,827,292.08 | 236,551,009.68 |
Note15.OtherSUPPLEMENTARYINFORMATION
15.1Non-recurringprofitorloss
1.Scheduleofnon-recurringprofitorlossofcurrentperiod
| Items | Amount | Remarks |
| Gainsondisposalofnon-currentassets,includingwritten-offofprovisionforimpairment | 1.00 | |
| Taxrefund,creditorexemptionapprovedbeyondthepowerofauthorities,withoutformaldocuments,orwithoccasionality | ||
| Governmentgrantincludedinprofitorloss(excludingthosecloselyrelatedtooperatingactivities,orregulargovernmentgrants) | 1,522,079.42 | |
| Fundpossessionchargefromnon-financialentitiesand | 435,887.15 |
| Items | Amount | Remarks |
| includedinprofitorloss | ||
| Gainsonacquisitionofsubsidiaries,jointventuresandassociatesduetothesurplusofacquisition-datefairvalueofnetidentifiableassetsinacquireeovertheacquisitioncost | ||
| Gainsonnon-cashassetsexchange | ||
| Gainsonassetsconsignedtothethirdpartyforinvestmentormanagement | ||
| Assetsimpairmentlossincurredduetoforcemajeuresuchasnaturaldisasters | ||
| Gainsondebtrestructuring | ||
| Entityrestructuringexpenses,suchasstaffingandintegratingexpenses | ||
| Gainsontransactionswithunfairvalue | ||
| Netprofitgainsonsubsidiariesacquiredthroughbusinesscombinationundercommoncontrolfromthebeginningoftheperiodtothecombinationdate | ||
| Contingentgainsonnon-operatingactivities | ||
| Gainsonchangesinfairvalueofheld-for-tradingfinancialassetsandliabilitiesandinvestmentincomefromdisposalofheld-for-tradingfinancialassetsandliabilities,andavailable-for-salefinancialassets,excludingthosearisingfromhedgingbusinessrelatedtooperatingactivities | 8,812,468.26 | |
| Thereversedprovisionforimpairmentofreceivablesbasedonimpairmenttestingonanindividualbasis | 493,295.33 | |
| Gainsondesignatedloans | ||
| Gainsonchangesinfairvalueofinvestmentpropertieswithsubsequentmeasurementatthefairvaluemode |
| Items | Amount | Remarks |
| Gainsonreconciliationofcurrentperiodprofitorlossfollowinglegalandregulativerequirements | ||
| Managementchargesforconsignedoperations | ||
| Othernon-operatingrevenueorexpenditures | 3,196,406.42 | |
| Otherprofitorlosssatisfyingthedefinitionofnon-recurringprofitorloss | 44,839.26 | |
| Subtotal | 14,504,976.84 | |
| Less:Enterpriseincometaxaffected | 3,123,780.55 | |
| Non-controllinginterestaffected(aftertax) | 1,437,257.12 | |
| Netnon-recurringprofitorlossattributabletoshareholdersoftheparentcompany | 9,943,939.17 |
15.2RONAandEPS
1.2020
| Profitofthereportingperiod | WeightedaverageRONA(%) | EPS(yuan/share) | |
| BasicEPS | DilutedEPS | ||
| Netprofitattributabletoshareholdersofordinaryshares | 4.48 | 0.13 | 0.13 |
| Netprofitattributabletoshareholdersofordinarysharesafterdeductingnon-recurringprofitorloss | 3.71 | 0.11 | 0.11 |
2.2019
| Profitofthereportingperiod | WeightedaverageRONA(%) | EPS(yuan/share) | |
| BasicEPS | DilutedEPS | ||
| Netprofitattributabletoshareholdersofordinaryshares | 18.92 | 0.51 | 0.51 |
| Profitofthereportingperiod | WeightedaverageRONA(%) | EPS(yuan/share) | |
| BasicEPS | DilutedEPS | ||
| Netprofitattributabletoshareholdersofordinarysharesafterdeductingnon-recurringprofitorloss | 4.63 | 0.12 | 0.12 |
SectionXIII.DocumentsAvailableforReference
TheCompanyreservedcompletedintegrateddocumentsforCSRC,SZSE,relevantdepartmentsandpublicinvestorforreference,including:
(1)OriginalAccountingStatementof2020carryingthesignaturesandsealsofthelegalrepresentative,CFOandmanagerofFinancialDepartment;
(2)OriginalAuditors’Report(ChineseandEnglishVersion)carryingthesealsofaccountingfirms,andsignaturesandsealsoftheCPA;
(3)AlloriginaldocumentsandnotificationsoftheCompanydisclosedinnewspapersthatdesignatedbyCSRCinreportperiod;
(4)Annualreportdisclosedinothersecuritiesmarket(Summary).