GuangdongProvincialExpresswayDevelopmentCo.,Ltd.
TheSemi-AnnualReport2022
August2022
I.ImportantNotice,TableofContentsandDefinitionsTheBoardofDirectors,theSupervisoryCommitteeaswellasalldirectors,supervisorsandseniormanagementstaffoftheCompanywarrantthatthisReportisfactual,accurateandcompletewithoutanyfalserecord,misleadingstatementormaterialomission.Andtheyshallbejointlyandseverallyliableforthat.Mr.MiaoDeshan,Companyprincipal,Mr.WangChunhua,GeneralManager,Mr.LuMing,Chiefoftheaccountingwork,Ms.ZhouFang,Chiefoftheaccountingorgan(chiefofaccounting)herebyconfirmtheauthenticityandcompletenessofthefinancialreportenclosedinthisSemi-annualreport.Allthedirectorshaveattendedthemeetingoftheboardmeetingatwhichthisreportwasexamined.TheCompanyhasnoplanofcashdividendscarriedout,bonusissuedandcapitalizingofcommonreserveseither.
TableofContents
I.ImportantNotice,TableofcontentsandDefinitionsII.CompanyProfile&FinancialHighlights.III.ManagementDiscussion&AnalysisIV.CorporateGovernanceV.Environmental&SocialResponsibilityVI.ImportantEventsVII.ChangeofsharecapitalandshareholdingofPrincipalShareholdersVIII.SituationofthePreferredSharesIX.CorporateBondX.FinancialReport
Documentsavailableforinspection
1.Accountingstatementscarriedwithpersonalsignaturesandsealsoflegalrepresentative,ChiefFinancialofficerandFinancialPrincipal.
2.OriginalofAuditors’ReportcarriedwiththesealofCertifiedPublicAccountantsaswellaspersonalsignaturesofcertifiedPublicaccountants.
Definition
Termstobedefined | Refersto | Definition |
Reportingperiod | Refersto | January1,2022toJune30,2022 |
Reportingdate | Refersto | Thesemi-annualreportofthecompanywasapprovedbytheboardofdirectorsof2022,thatis,August26,2022 |
YOY | Refersto | ComparedwithJanuary-June2021 |
TheCompany/ThisCompany | Refersto | GuangdongProvincialExpresswayDevelopmentCo.,Ltd. |
FokaiBranch | Refersto | GuangdongProvincialExpresswayDevelopmentCo.,Ltd.FokaiBranch |
GuangfoCompany | Refersto | GuangdongGuangfoExpresswayCo.,Ltd. |
GuanghuiCompany | Refersto | GuangdongGuanghuiExpresswayCo.,Ltd. |
II.CompanyProfile&FinancialHighlights.
1.CompanyProfile
Stockabbreviation: | ExpresswayA,ExpresswayB | Stockcode: | 000429,200429 |
Stockexchangeforlisting | ShenzhenStockExchange | ||
NameinChinese | 广东省高速公路发展股份有限公司 | ||
AbbreviationofRegisteredCompany(ifany) | 粤高速 | ||
Englishname(Ifany) | GuangdongProvincialExpresswayDevelopmentCo.Ltd | ||
Englishabbreviation(Ifany) | GPED | ||
LegalRepresentative | MiaoDeshan |
2.Contactpersonandcontactmanner
Boardsecretary | SecuritiesaffairsRepresentative | |
Name | YangHanming | LiangJirong |
Contactaddress | 46/F,LitongPlaza,No.32,ZhujiangEastRoad,ZhujiangNewCity,TianheDistrict,Guangzhou | 45/F,LitongPlaza,No.32,ZhujiangEastRoad,ZhujiangNewCity,TianheDistrict,Guangzhou |
Tel | 020-29004619 | 020-29004523 |
Fax | 020-38787002 | 020-38787002 |
Hmy69@126.com | 139221590@qq.com |
3.Other
1).WayofcontactWhetherregistrationsaddress,officesaddressandcodesaswellaswebsiteandemailoftheCompanychangedinreportingperiodornot
□Applicable√NotapplicableRegistrationsaddress,officesaddressandcodesaswellaswebsiteandemailoftheCompanyhasnochangeinreportingperiod,foundmoredetailsinannualreport2021.
2).InformationinquiryWhetherinformationdisclosureandpreparationplacechangedinreportingperiodornot
□Applicable√NotapplicableNoneoftheofficialpresses,website,andplaceofenquiryhasbeenchangedinthesemireportperiod.FordetailspleasefindtheAnnualReport2021.
3).OtherrelevantinformationDidanychangeoccurtootherrelevantinformationduringthereportingperiod?
□Applicable√Notapplicable
4.SummaryofAccountingDataandFinancialIndicatorsWhetherithasretroactiveadjustmentorre-statementonpreviousaccountingdata
□Yes√No
Reportingperiod | Sameperiodoflastyear | YoY+/-(%) | |
Operatingincome(yuan) | 2,057,420,809.68 | 2,488,474,669.81 | -17.32% |
Netprofitattributabletotheshareholdersofthelistedcompany(yuan) | 773,786,851.68 | 848,860,350.64 | -8.84% |
Netprofitafterdeductingofnon-recurringgain/lossattributabletotheshareholdersoflistedcompany(yuan) | 743,090,095.19 | 842,743,158.64 | -11.82% |
Cashflowgeneratedbybusinessoperation,net(yuan) | 1,443,551,266.30 | 1,815,293,217.25 | -20.48% |
Basicearningpershare(yuan/Share) | 0.37 | 0.41 | -9.76% |
Dilutedgainspershare(yuan/Share) | 0.37 | 0.41 | -9.76% |
Weightedaverageincome/assetratio(%) | 8.45% | 10.16% | -1.71% |
Asattheendofthereportingperiod | Asattheendoflastyear | YoY+/-(%) | |
Grossassets(yuan) | 19,737,220,017.64 | 18,875,766,799.31 | 4.56% |
Shareholders’equityattributabletoshareholdersofthelistedcompany(yuan) | 8,549,301,415.60 | 8,982,437,985.17 | -4.82% |
5.Differencesbetweenaccountingdataunderdomesticandoverseasaccountingstandards
1).SimultaneouslypursuanttobothChineseaccountingstandardsandinternationalaccountingstandardsdisclosedinthefinancialreportsofdifferencesinnetincomeandnetassets.
□Applicable□√NotapplicableNone
2).DifferencesofnetprofitandnetassetsdisclosedinfinancialreportspreparedunderoverseasandChineseaccountingstandards.
□Applicable√NotapplicableNone
6.Itemsandamountofnon-currentgainsandlosses
√Applicable□Notapplicable
InRMB
Items | Amount | Note |
Non-currentassetdisposalgain/loss(includingthewrite-offpartforwhichassetsimpairmentprovisionismade) | 447,880.54 | |
Governmentsubsidiesrecognizedincurrentgainandloss(excludingthosecloselyrelatedtotheCompany’sbusinessandgrantedunderthestate’spolicies) | 7,349,285.08 | |
Netamountofnon-operatingincomeandexpenseexcepttheaforesaiditems | 2,881,455.61 | |
Othernon-recurringGains/lossitems | 14,393,329.63 | |
Less:Influencedamountofincometax | -8,354,389.12 | |
Influencedamountofminorshareholders’equity(aftertax) | 2,729,583.49 | |
Total | 30,696,756.49 |
Detailsofotherprofitandlossitemsthatmeetthenon-recurringprofitandlossdefinition
□Applicable√NotapplicableNoneFortheCompany’snon-recurringgain/lossitemsasdefinedintheExplanatoryAnnouncementNo.1oninformationdisclosureforCompaniesOfferingtheirSecuritiestothePublic-Non-recurringGainsandLossesanditsnon-recurringgain/lossitemsasillustratedintheExplanatoryAnnouncementNo.1oninformationDisclosureforCompaniesofferingtheirsecuritiestothepublic-non-recurringGainsandlosseswhichhavebeendefinedasrecurringgainsandlosses,itisnecessarytoexplainthereason.
□Applicable√NotapplicableNoneofNon-recurringgain/lossitemsrecorgnizedasrecurringgain/loss/itemsasdefinedbytheinformationdisclosureexplanatoryAnnouncementNo.1-Non–recurringgain/lossinthereportperiod.
III.ManagementDiscussion&AnalysisⅠ.MainBusinesstheCompanyisEngagedinDuringtheReportPeriodTheCompany'smainbusinessindevelopingandoperatingexpresswayandbigbridges.ItisoneofthemaininstitutionsofdevelopingexpresswayandbigbridgeinGuangdongExpresswaySystem.Theexpresswayindustryistheindustryhelpedbygovernment.TheCompanyismainlyengagedintollingandmaintenanceofGuangfoExpressway,FokaiExpressway,JingzhuExpresswayGuangzhuSectionandGuanghuiExpresswayinvestmentintechnologicalindustriesandprovisionofrelevantconsultationwhileinvestinginShenzhenHuiyanExpresswayCo.,Ltd.,GuangdongJiangzhongExpresswayCo.,Ltd.,ZhaoqingYuezhaoExpresswayCo.,Ltd.,GanzhouKangdaExpressway,GanzhouGankangExpresswayCo.,Ltd.,GuangdongYuekeTechnologyPettyLoanCo.,Ltd.,GuangdongGuangleExpresswayCo.,Ltd.,GuoyuanSecuritiesCo.,Ltd.,HunanLianzhiTechnologyCo.,Ltd.,SPICYuetongQiyuanChipPowerTechnologyCo.,Ltd.andCMSTNanjingIntelligentLogisticsTechnologyCo.,Ltd.Asoftheendofthereportingperiod,thecompany’sshare-controlledexpresswayis306.78km,andtheshare-participationexpresswayis295.88km.II.AnalysisOncoreCompetitiveness
Thetollrevenueofexpresswayindustrymainlydependsontheregionaleconomicdevelopment.Theregionaleconomyisthecriticalfactorthatinfluencesthetrafficvolume.TheGuangfoexpresswayandtheFokaiexpressway,controlledbythecompany,arepartoftheNationalExpresswayNetworkPlanning-“Fiveverticalandsevenhorizontal”,JingzhuExpresswayGuangzhuSectionisafastandconvenientexpressway,GuanghuiExpresswayisanimportantsectionofthenationalkeyhighway-the15thHengshanweitoYunnanQingshuihehighway,Andmanyofthecompany’sequity-participationexpresswaysthatarepartofthemainskeletonoftheGuangdongProvincialExpresswayPlanning-“Tenverticalandfivehorizontal”,whichprovidesastrongguaranteeforstabletrafficvolume.Meanwhile,theregionaleconomyisthecriticalfactorthatinfluencesthetrafficvolume,asGuangdongprovinceistheeconomicallydevelopedregion,withyears’continuoushighgrowthofGDP,sothatprovidesthestablerisingdemandforthecompany.III.MainbusinessanalysisⅠ.GeneralWhetherthesameasthemainbusinessdisclosureengagedinthecompanyduringthereportingperiod
□Yes√No
Volumeofvehicletrafficinthefirsthalfyearof2022 | Tollincomeinthefirsthalfyearof2022 | Tollincomeinthefirsthalfyearof2022(Tenthousand) | Increase/Decrease(%) | |
GuangfoExpressway | 36,349,485 | -4.69% | 6,478.10 | -69.88% |
FokaiExpressway | 37,500,754 | -8.92% | 63,696.56 | -7.31% |
JingzhuExpresswayGuangzhuEastSection | 27,536,144 | -21.64% | 43,747.12 | -20.00% |
GuanghuiExpressway | 36,098,312 | -7.20% | 88,041.38 | -11.22% |
HuiyanExpressway | 21,272,389 | -17.25% | 9,689.71 | -16.91% |
YuezhaoExpressway | 16,371,410 | -11.35% | 22,496.53 | -14.39% |
Jiangzhong | 26,079,442 | -20.08% | 17,686.08 | -24.39% |
Volumeofvehicletrafficinthefirsthalfyearof2022 | Tollincomeinthefirsthalfyearof2022 | Tollincomeinthefirsthalfyearof2022(Tenthousand) | Increase/Decrease(%) | |
Expressway | ||||
GuangleExpressway | 18,846,126 | -4.96% | 154,513.17 | -5.50% |
KangdaExpressway | 590,955 | -20.49% | 13,786.32 | -8.14% |
GangkangExpressway | 1,917,372 | -21.25% | 9,019.62 | -8.89% |
Note:GuangfoExpresswaystoppedtollcollectionfrom00:00onMarch3,2022.Duringthereportingperiod,thetrafficflowfromJanuarytoAprildeclinedbyvaryingdegreesduetotheslowdownineconomicgrowth,theepidemicpreventionandcontrolmeasuresinShenzhen,DongguanandZhuhaiinGuangdongProvince,theextremeweatherandotherfactors.ThetrafficvolumeofGuanghuiExpresswayandJingzhuExpresswayGuangzhuSectionthataretheCompany'sholdings-areadjacenttoShenzhenandDongguandecreasedsignificantly.WiththeeffectivecontroltotheepidemicinMay,theDragonBoatFestivalholidayandthecollegeentranceexaminationandtheseniorhighschoolentranceexaminationended,thewillingnessofthemassesfortravelhasincreased,andthetrafficflowofvarioussectionshasshownatrendofrecovery.Year-on-yearchangeofmainfinancialdata
InRMB
Thisreportperiod | Sameperiodlastyear | YOYchange(%) | Causechange | |
Operatingincome | 2,057,420,809.68 | 2,488,474,669.81 | -17.32% | GuangfoExpresswaystoppedtollcollectionfrom00:00onMarch3,2022,andthetollsdecreasedYOY;duetotheimpactoftheepidemic,thetrafficflowontheexpresswaydecreasedYOY,andthetollsdecreasedYOY. |
Operatingcost | 696,143,722.50 | 889,127,742.43 | -21.70% | FokaiExpresswayhadadjustextendedthetollperiodsinceJunelastyear,andinthefirsthalfof2022,thedepreciationofFokaiExpresswayhaddecreasedYOY;thedeclineintollrevenuehadledtoadeclineinroaddepreciation. |
Administrativeexpenses | 85,773,267.04 | 93,357,035.39 | -8.12% | |
Financialexpenses | 87,302,056.62 | 120,868,584.07 | -27.77% | ThedoubleimpactoftheYOYdeclineinborrowingsandthedeclineininterestrates. |
Incometaxexpenses | 290,240,426.63 | 354,025,065.47 | -18.02% | |
R&DInvestment | 1,368,887.22 | Mainlyduetothelaborcostsandrelatedexpensesofprojectdeveloperssuchas"ResearchontheUnattendedSystemofExpresswaySmartTollStations","ResearchandDevelopmentofKeyTechnologiesforRemixedIn-PlaceHeatRegenerationinExpresswayCoveredandOverpavedRoads",etc. | ||
Cashflowgeneratedbybusinessoperation,net | 1,443,551,266.30 | 1,815,293,217.25 | -20.48% | Mainlyduetothedeclineintollrevenue. |
Netcashflowgeneratedbyinvestment | -274,972,125.19 | -158,820,398.94 | -73.13% | Disposeof100%equityofGuangdongExpresswayTechnologyInvestment |
Co.,Ltd.,thecashdividendsoftheparticipatingcompaniesaredistributedearlierthanthesameperiodandthenewexternalequityinvestmentinthisperiod. | ||||
Netcashflowgeneratedbyfinancing | -80,767,682.59 | -936,574,211.78 | 91.38% | Mainlyduetothepaymentoftheremaining21%equitypurchasepaymentofGuangdongGuanghuiExpresswayCo.,Ltd.inthesameperiodlastyear,buttherewasnoneofthisinthisyear. |
Netincreasingofcashandcashequivalents | 1,087,811,458.52 | 719,898,606.53 | 51.11% | Thecombinedeffectofoperatingactivities,investmentactivities,andfinancingactivities. |
MajorchangestotheprofitstructureorsourcesoftheCompanyinthereportingperiod
□Applicable√NotapplicableNone.ComponentofBusinessIncome
InRMB
Thisreportperiod | Sameperiodlastyear | Increase/decrease | |||
Amount | Proportion | Amount | Proportion | ||
Totaloperatingrevenue | 2,057,420,809.68 | 100% | 2,488,474,669.81 | 100% | -17.32% |
Industry | |||||
Highwaytransportations | 2,019,631,631.41 | 98.16% | 2,440,717,934.74 | 98.08% | -17.25% |
Other | 37,789,178.27 | 1.84% | 47,756,735.07 | 1.92% | -20.87% |
Product | |||||
Highwaytransportations | 2,019,631,631.41 | 98.16% | 2,440,717,934.74 | 98.08% | -17.25% |
Other | 37,789,178.27 | 1.84% | 47,756,735.07 | 1.92% | -20.87% |
Area | |||||
GuangfoExpressway | 64,781,007.00 | 3.15% | 215,068,229.34 | 8.64% | -69.88% |
FokaiExpressway | 636,965,610.55 | 30.96% | 687,165,042.12 | 27.61% | -7.31% |
JingzhuExpresswayGuangzhuSection | 437,471,193.16 | 21.26% | 546,816,777.61 | 21.98% | -20.00% |
GuanghuiExpressway | 880,413,820.70 | 42.79% | 991,667,885.67 | 39.85% | -11.22% |
Other | 37,789,178.27 | 1.84% | 47,756,735.07 | 1.92% | -20.87% |
SituationofIndustry,ProductandDistrictOccupyingtheCompany’sBusinessIncomeandOperatingProfitwithProfitover10%
√Applicable□Notapplicable
InRMB
Turnover | Operationcost | Grossprofitrate(%) | Increase/decreaseofrevenueinthesameperiodofthepreviousyear(%) | Increase/decreaseofbusinesscostoverthesameperiodofpreviousyear(%) | Increase/decreaseofgrossprofitrateoverthesameperiodofthepreviousyear(%) | |
Industry | ||||||
Highwaytransportations | 2,019,631,631.41 | 678,568,987.99 | 66.40% | -17.25% | -21.12% | 1.65% |
Product |
Highwaytransportations | 2,019,631,631.41 | 678,568,987.99 | 66.40% | -17.25% | -21.12% | 1.65% |
Area | ||||||
FokaiExpressway | 636,965,610.55 | 248,227,488.15 | 61.03% | -7.31% | -31.90% | 14.07% |
JingzhuExpresswayGuangzhuSection | 437,471,193.16 | 144,124,522.57 | 67.06% | -20.00% | -1.95% | -6.06% |
GuanghuiExpressway | 880,413,820.70 | 269,464,772.31 | 69.39% | -11.22% | -11.66% | 0.15% |
Undercircumstancesofadjustmentinreportingperiodforstatisticscopeofmainbusinessdata,adjustedmainbusinessbasedonlatestonyear’sscopeofperiod-end.
□Applicable√NotapplicableAnyover30%YoYMovementsinthedataaboveandwhy
√Applicable□Notapplicable
1.AccordingtotheinformalletterNo.24-[2022]YueTransportationOperation-"NoticeoftheDepartmentofTransportationofGuangdongProvinceonIssuesConcerningtheExpirationofTollCollectionofGuangfoExpressway"issuedbyGuangdongProvincialDepartmentofTransportation,GuangfoExpresswayshallstoptollcollectionfrom0:00onMarch3,2022.TheoperatingincomeofGuangfoCompanyhaddroppedby
69.88%YOY.
2.ThetollperiodofFokaiExpresswayhasbeenextendedsinceJunelastyear.Inthefirsthalfof2022,thedepreciationofFokaiExpresswaydecreasedYOY.Meanwhile,thetollrevenuedeclinedandtheroadpropertydepreciationalsodecreased.Tosumup,theoperatingcostofFokaiBranchdecreasedby31.90%YOY.IV.Non-corebusinessanalysis
√Applicable□Notapplicable
InRMB
Amount | Ratiointotalprofit | Note | Whetherbesustainable | |
InvestmentIncome | 162,384,354.53 | 12.01% | Itisduetotheoperationaccumulationofparticipantcompanies | Exceptforthedisposalgainsobtainedfromthedisposalofsubsidiaries,othersweresustainable. |
Non-operatingincome | 5,821,631.65 | 0.43% | Mainlyinsuranceclaimsandroadpropertyclaims | Notsustainable |
Non-operatingexpenses | 2,955,659.39 | 0.22% | Mainlyroadpropertyrepairexpenses | Notsustainable |
Otherincome | 8,178,352.38 | 0.61% | MainlyisamortizationandcancellationofprovincialboundaryTollstationsubsidies. | Sustainable |
V.ConditionofAssetandLiabilities
1.ConditionofAssetCausingSignificantChange
InRMB
EndofReportingperiod | Endofsameperiodoflastyear | Changeinpercentage(%) | Reasonforsignificantchange | ||
Amount | Asapercentageoftotal | Amount | Asapercentageof |
assets(%) | totalassets(%) | ||||
Monetaryfund | 4,044,215,849.07 | 20.49% | 2,956,404,390.55 | 15.66% | 4.83% |
Accountsreceivable | 125,230,522.84 | 0.63% | 159,053,399.87 | 0.84% | -0.21% |
Contractassets | 5,286,462.45 | 0.03% | -0.03% | ||
Inventories | 640,079.66 | 0.00% | 0.00% | ||
Investmentrealestate | 2,778,704.17 | 0.01% | 2,889,263.41 | 0.02% | -0.01% |
Long-termequityinvestment | 2,820,130,077.40 | 14.29% | 2,627,130,681.24 | 13.92% | 0.37% |
Fixedassets | 10,148,446,100.45 | 51.42% | 10,639,272,192.02 | 56.36% | -4.94% |
Constructioninprocess | 475,554,879.75 | 2.41% | 351,130,455.06 | 1.86% | 0.55% |
Userightassets | 8,937,861.63 | 0.05% | 14,100,325.01 | 0.07% | -0.02% |
Shore-termloans | 320,266,666.67 | 1.62% | 1.62% | ||
Contractliabilities | 22,000.00 | 0.00% | 0.00% | ||
Long-termborrowing | 4,534,385,100.00 | 22.97% | 4,572,621,200.00 | 24.22% | -1.25% |
Leaseliabilities | 222,305.08 | 0.00% | 2,773,459.76 | 0.01% | -0.01% |
2.Mainassetsoverseas
□Applicable√Notapplicable
3.AssetandLiabilitiesMeasuredbyFairValue
√Applicable□Notapplicable
InRMB
Items | Openingamount | Gain/Lossonfairvaluechangeinthereportingperiod | Cumulativefairvaluechangerecordedintoequity | Impairmentprovisionsinthereportingperiod | Purchasedamountinthereportingperiod | Soldamountinthereportingperiod | Otherchange | Closingamount |
Financialassets | ||||||||
1.Tradingfinancialassets(excludingderivativefinancialassets | 91,000,000.00 | 91,000,000.00 | ||||||
4.Otherequityinstrumentinvestment | 1,577,175,826.05 | 208,999,143.47 | 1,524,908,322.00 | |||||
Subtotaloffinancialassets | 1,577,175,826.05 | 208,999,143.47 | 91,000,000.00 | 1,615,908,322.00 | ||||
Totaloftheabove | 1,577,175,826.05 | 208,999,143.47 | 91,000,000.00 | 1,615,908,322.00 | ||||
Financialliabilities | 0.00 | 0.00 |
OtherchangeDidanysignificantchangeoccurtotheattributeoftheCompany’smainassetmeasurementduringthereportingperiod?
□Yes√No
3.AssetsrightrestrictiontillendofreportingperiodThebalanceofrestrictedbankdepositsattheendoftheperiodwasRMB1,221,200.00,whichwasthelandreclamationfunddepositedintothefundcustodyaccountforthereconstructionandexpansionprojectofsanbaotoshuikousectionofFokaiExpressway.VI.Investmentsituation
1.General
√Applicable□Notapplicable
CurrentInvestmentAmount(Yuan) | Sameperiodoflastyear(Yuan) | Changerate |
250,000,000.00 | 0.00 | 0.00% |
2.ConditionofAcquiringSignificantShareRightInvestmentduringtheReportPeriod
□Applicable√Notapplicable
3.SituationoftheSignificantNon-equityInvestmentUndergoingintheReportPeriod
□Applicable√Notapplicable
4.InvestmentofFinancialAsset
(1)Securitiesinvestment
√Applicable□Notapplicable
InRMB
Securitycategory | Securitycode | StockAbbreviation: | Initialinvestmentcost | Modeofaccountingmeasurement | Bookvaluebalanceatthebeginningofthereportingperiod | Changesinfairvalueofthethisperiod | Cumulativefairvaluechangesinequity | Purchaseamountinthethisperiod | Saleamountinthethisperiod | Gain/lossofthereportingperiod | Bookvaluebalanceattheendofthereportingperiod | Accountingitems | Sourcesoffunds |
Domesticandforeignstocks | 601818 | EverbrightBank | 517,560,876.80 | FVM | 781,046,414.08 | 190,556,504.64 | 47,286,243.74 | 708,117,381.44 | Otherequityinstrumentinvestments | Self | |||
Total | 517,560,876.80 | -- | 781,046,414.08 | 0.00 | 190,556,504.64 | 0.00 | 0.00 | 47,286,243.74 | 708,117,381.44 | -- | -- | ||
DisclosureDateofAnnouncementonSecuritiesInvestmentApprovedbytheBoardofDirectors | July22,2009 | ||||||||||||
DisclosureDateofAnnouncementonSecuritiesInvestmentApprovedbytheShareholdersMeeting(Ifany) | August7,2009 |
(2)InvestmentinDerivatives
□Applicable√NotapplicableTheCompanyhadnoinvestmentinderivativesinthereportingperiod.
5.Applicationoftheraisedcapital
□Applicable√NotapplicableTheCompanyhadnoapplicationoftheraisedcapitalinthereportingperiod.VII.Salesofmajorassetsandequity
1.Salesofmajorassets
□Applicable√NotapplicableTheCompanyhadnosalesofmajorassetsinthereportingperiod.
2.Salesofmajorequity
□Applicable√Notapplicable
VIII.AnalysisoftheMainShareHoldingCompaniesandShareParticipatingCompanies
√Applicable□NotapplicableSituationofMainSubsidiariesandtheJoint-stockCompanywithover10%netprofitinfluencingtotheCompany
InRMB
CompanyName | Companytype | Leadingproductsandservices | Registeredcapital | Totalassets | Netassets | OperatingIncome | Operatingprofit | NetProfit |
JingzhuExpresswayGuangzhuSectionCo.,Ltd. | Subsidiary | TheoperationandmanagementofGuangzhuExpresswayandprovisionofsupportingservicesincludingfueling,salvageandsupplyofpartsandcomponents | RMB580million | 2,193,057,129.55 | 850,830,359.39 | 452,938,785.68 | 259,757,572.13 | 193,087,643.23 |
GuangdongGuanghuiExpresswayCo.,Ltd. | Sharingcompany | InvestmentinandconstructionofGuanghuiExpresswayCo.,Ltd.andsupportingfacilities,thetollcollectionandmaintenancemanagementofGuanghuiExpressway,TheGuanghuiExpressway'ssupportinggasstation,salvation,vehiclemaintenance,vehicletransport,catering,warehousinginvestmentanddevelopment | RMB2.352billion | 4,679,611,380.04 | 4,138,588,813.90 | 893,298,497.64 | 625,554,983.27 | 469,177,363.59 |
Subsidiariesobtainedordisposedinthereportingperiod
√Applicable□Notapplicable
Companyname | Wayofacquiringanddisposingofsubsidiarycorporationswithinthereportingperiod | Impactonthewholeproducingoperationandperformance |
GuangdongExpresswayTechnologyInvestmentCo.,Ltd. | Sales | Thistransactiondoesnothaveasignificantimpactontheoverallproductionandoperationofthecompany,andincreasesthecompany'scurrentnetprofitby24.89millionyuan. |
ParticularsabouttheMutualholdingcompanies
1.AccordingtotheinformalletterNo.24-[2022]YueTransportationOperation-"NoticeoftheDepartmentofTransportationofGuangdongProvinceonIssuesConcerningtheExpirationofTollCollectionofGuangfoExpressway"issuedbyGuangdongProvincialDepartmentofTransportation,GuangfoExpresswayshallstoptollcollectionfrom0:00onMarch3,2022.Retaintheexistingtollfacilitiesandoperateasusualinazero-ratemanner,exemptvehicletollsforallvehiclespassingthisroadsection,andcollectvehicletollsonbehalfforotherroadsections.Afterthetollcollectionisstopped,GuangfoExpresswayCo.,LtdshallcontinuetoberesponsibleforthemanagementandmaintenanceofGuangfoExpressway.IX.StructuredvehiclecontrolledbytheCompany
□Applicable√NotapplicableX.RisksfacingtheCompanyandcountermeasures
Thecompany’sprofitsmainlycomefromtheexpresswaytollsrevenueandthetollchargingstandardsshallbeexaminedbythetrafficauthorityoftheprovincial,autonomousregionandthedirect-controlledmunicipalitypeople’sgovernmentstogetherwiththesame-levelpricingauthorityandthensubmittedtothesame-levelpeople’sgovernmentforapproval.Therefore,thechargingpriceadjustmenttrendandthepossibilityofthechargingpriceadjustmentuponrisingofthecommoditypriceandthecompanycostinthefuturearestillsubjecttorelevantnationalpoliciesandtheapprovalofthegovernmentaldepartment.Andthecompanycan’tadjustthechargingstandardspromptlybasedonitsownoperationcostorthemarketsupply-demandchanges.Inconclusion,thechargingpolicieschangeandthechargingstandardsadjustmenthavetheinfluenceontheexpresswaybusinessofthecompanytosomeextent.
IV.CorporateGovernanceI.AnnualGeneralMeetingandProvisionalShareholders’MeetingsintheReportingPeriod
1.AnnualGeneralMeeting
Meeting | Type | Investorparticipationratio | Conveneddate | Disclosuredate | Indextodisclosedinformation |
2021Shareholders’generalmeeting | AnnualShareholders’GeneralMeeting | 66.50% | May17,2022 | May18,2022 | 1.ThemeetingexaminedandadoptedtheProposalConcerningFinalAccountingReportfor2021.2.ThemeetingexaminedandadoptedtheProposalConcerningPreplanforProfitDistributionfor2021.3.ThemeetingexaminedandadoptedtheProposalConcerningOverallbudgetreportoftheCompanyfor2022.4.ThemeetingexaminedandadoptedtheWorkReportoftheBoardofDirectorsfor2021.5.ThemeetingexaminedandadoptedtheWorkReportofthesupervisoryCommitteefor2021.6.ThemeetingexaminedandadoptedAnnualReportfor2021anditssummary.7.ThemeetingexaminedandadoptedtheProposalforHiringthe2022AnnualFinancialReportAuditAgency.8.ThemeetingexaminedandadoptedtheProposalforHiringthe2022InternalControlAuditInstitution.9.ThemeetingexaminedandadoptedtheProposalregardingtheelectionofMr.KuangYuasdirectoroftheninthboardofdirectorsoftheCompany.10.ThemeetingexaminedandadoptedtheProposalregardingtheelectionofMs.WangXiaobingasSupervisoroftheninthboardofsupervisorsoftheCompany. |
2.PreferredshareholderswiththerestorationofvotingrightsmadearequestfortheSpecialMeetingofShareholders
□Applicable√NotapplicableII.Changeinsharesheldbydirectors,supervisorsandseniorexecutives
√Applicable□Notapplicable
Name | Positions | Types | Date | Reason |
HuangHai | Director | Left | February24,2022 | Jobchange |
ZhengRenfa | Chairman | Left | April26,2022 | Jobchange |
ChengRui | DeputyGeneral | Dismiss | June17,2022 | Jobchange |
KuangYu | Director | Elected | May17,2022 | Electedbytheshareholders'generalmeeting |
WangXiaobing | Supervisor | Elected | May17,2022 | Electedbytheshareholders'generalmeeting |
III.Pre-planforprofitallocationandturningcapitalreserveintosharecapitalforthereportingperiod
□Applicable√NotapplicableTheCompanyplannednottodistributecashdividendandbonusshare,andnottoconvertcapitalreservesintosharecapitalinhalfyear.
IV.Implementationofanyequityincentiveplan,employeestockownershipplanorotherincentivemeasuresforemployees
□Applicable√NotapplicableNone.
V.Environmental&SocialResponsibilityI.SignificantenvironmentalissuesWhethertheCompanyoranyofitssubsidiariesisidentifiedasakeypolluterbytheenvironmentauthorities
□Yes√NoAdministrativepenaltiesforenvironmentalproblemsduringthereportingperiod
Companyorsubsidiaryname | Reasonofpunishment | Violationofregulations | Punishmentresult | Impactontheproductionandoperationoflistedcompanies | Company'srectificationmeasures |
No | No | No | No | No | No |
OtherenvironmentalinformationthatshouldbedisclosedNoneMeasuresandeffectstakentoreduceitscarbonemissionsduringthereportingperiod
□Applicable√NotapplicableReasonsfornotdisclosingotherenvironmentalinformationNoneII.SocialresponsibilitiesInthefirsthalfof2022,theCompanyactivelyfulfilleditssocialresponsibilities,strivedtoovercometheadverseimpactoftheepidemic,strictlyimplementedtherequirementsoflocalepidemicpreventionandcontrol,anddidagoodjobinensuringthesafetyofroadsections.
1.Inordertodowellinepidemicpreventionandcontrol,theCompany'sparticipationandholdingexpresswaycompaniesactivelyrespondedtohigher-levelpolicies,andtheCompany'spartycommitteeandmanagementteamactivelymobilizedvolunteersfromthepartyandlaborgroupstoparticipateintheepidemicpreventionandcontrolwork,effectivelypromotedthenormalizedepidemicpreventionandcontrolwork.
2.Thepolicyofexemptingtollsforpassengercarswithlessthansevenseatsandbyintermittentfreerelease,andthepreferentialpoliciesforgreenpassageswillcontinuetobeimplementedonmajorholidays,andsoundlyimplementedthat"knowledgeisinplace,personnelareinplace,responsibilitiesareinplace,andmeasuresareinplace"tosuccessfullycompletethevarioustasksofensuringsafetyandsmoothflow.
3.Activelyrespondedtogovernmentpolicies,providedpreferentialreductionandexemptionofvehicletollsinaccordancewithlawsandregulations,forreducingcorporatetransportationcostsandpublictravelcosts.
4.Wellperformedinroadconditiondetection,inquiriesandresponsesfromdriversandpassengers,andsmoothedroadsurfaceprotectionafterthetollcollectionofGuangfoExpresswaywasstopped.
VI.ImportantEventsI.Thefulfilledcommitmentsinthereportingperiodandunder-fulfillmentcommitmentsbytheendofthereportingperiodmadebythecompany,shareholder,actualcontroller,acquirer,director,supervisor,seniormanagementpersonnelandotherrelatedparities.
□Applicable√NotapplicableThereisnocommitmentthathasnotbeenfulfilledbyactualcontroller,shareholders,relatedparties,acquirersoftheCompanyII.Particularsaboutthenon-operatingoccupationoffundsbythecontrollingshareholder
□Applicable√NotapplicableNoneIII.Illegalprovisionofguaranteesforexternalparties
□Applicable√NotapplicableNoneIV.EngagementanddisengagementofCPAsfirmWhetherthesemi-annualfinancialreporthasbeenaudited
□Yes√NoThesemi-annualfinancialreportoftheCompanyhasnotbeenauditedV.Notesfor“non-standardauditreport”ofCPAsfirmduringtheReportingPeriodbyboardofdirectorsandsupervisoryboard
□Applicable√NotapplicableVI.Notesfortherelatedinformationof“non-standardauditreports”lastyearbyboardofdirectors
□Applicable√NotapplicableVII.Bankruptcyandrestructuring
□Applicable√NotapplicableNosuchcasesinthereportingperiod.
VIII.LitigationsandarbitrationsSignificantlitigationsandarbitrations
□Applicable√NotapplicableNosuchcasesinthereportingperiod.Otherlawsuits
□Applicable√NotapplicableIX.Punishmentsandrectifications
□Applicable√NotapplicableX.CreditconditionsoftheCompanyaswellasitscontrollingshareholderandactualcontroller
□Applicable√NotapplicableXI.Materialrelatedtransactions
1.Relatedtransactionsinconnectionwithdailyoperation
□Applicable√NotapplicableNosuchcasesinthereportingperiod.
2.Related-partytransactionsarisingfromassetacquisitionorsold
□Applicable√NotapplicableNosuchcasesinthereportingperiod.
3.Related-partytransitionswithjointinvestments
□Applicable√NotapplicableNosuchcasesinthereportingperiod.
4.Creditsandliabilitieswithrelatedparties
□Applicable√NotapplicableNosuchcasesinthereportingperiod.
5.Transactionswithrelatedfinancecompany,especiallyonethatiscontrolledbytheCompany
√Applicable□NotapplicableDepositbusiness
Relatedparty | Relationship | Maximumdailydepositlimitd(Tenthousandyuan) | Depositinterestraterange | Beginningbalance(Tenthousandyuan) | Theamountincurred | Endingbalance(Tenthousandyuan) | |
Totaldepositamountofthecurrentperiod(Tenthousandyuan) | Totalamountwithdrawninthecurrentperiod(Tenthousandyuan) | ||||||
GuangdongCommunicationsGroupFinanceCo.,Ltd | Controlledbythesameparentcompany | 300,000 | 0.35%-2.85% | 152,100.35 | 113,736.7 | 0 | 265,837.05 |
Loanbusiness
Relatedparty | Relationship | Loanlimit(Tenthousandyuan) | Loantinterestraterange | Beginningbalance(Tenthousandyuan) | Theamountincurred | Endingbalance(Tenthousandyuan) | |
Totalloanamountforthecurrentperiod(Tenthousandyuan) | Totalrepaymentamountofthisperiod(Tenthousandyuan) | ||||||
GuangdongCommunicationsGroupFinanceCo.,Ltd | Controlledbythesameparentcompany | 400,000 | 3%-3.75% | 20,000 | 32,000 | 100 | 51,900 |
Creditextensionorotherfinancialservices
Relatedparty | Relationship | Businesstype | Totalamount(Tenthousandyuan) | Actualamountincurred(Tenthousandyuan) |
GuangdongCommunicationsGroupFinanceCo.,Ltd | Controlledbythesameparentcompany | Creditextension | 220,000 | 51,900 |
6.TransactionswithrelatedfinancecompanycontrolledbytheCompany
□Applicable√NotapplicableNosuchcasesinthereportingperiod.
7.Othersignificantrelated-partytransactions
√Applicable□Notapplicable
1.The"ProposalontheTransferof100%EquityoftheWholly-ownedSubsidiary-GuangdongExpresswayTechnologyInvestmentCo.,Ltd”wasreviewedandapprovedinthe27thmeetingoftheninthboardofdirectorsoftheCompany.It’sagreedthattheCompanywilltransfer100%oftheequityofGuangdongExpresswayTechnologyInvestmentCo.,LtdtoGuangdongLitongTechnologyInvestmentCo.,Ltdbymeansofnon-publicagreementtransferbasedontheassetevaluationresultsthathavebeenfiledasthepricingbasis.Thetransferpriceis50,623,900yuan.It’sauthorizedthemanagementteamoftheCompanytohandlemattersrelatedtothisequitytransfer.
2.The"ProposalontheCompany'sExpectedRoutineConnectedTransactionsin2022"wasreviewedandapprovedinthetwenty-seventhmeetingoftheninthboardofdirectorsoftheCompany,andagreedtotheCompany'sheadquarters,branchesandwholly-ownedandcontrolledsubsidiaries’expectedroutineconnectedtransactionsin2022,withthetransactionamounttotaledin69,034,100yuan.Thewebsitetodisclosetheinterimannouncementsonsignificantrelated-partytransactions
Descriptionofprovisionalannouncement | Dateofdisclosingprovisionalannouncement | Descriptionofthewebsitefordisclosingprovisionalannouncements |
AnnouncementofResolutionsofthe27th(Provisional)MeetingoftheNinthBoardofDirectors | March16,2022 | www.cninfo.com.cn |
EstimatesannouncementoftheDailyRelatedPartyTransactionof2022 | March16,2022 | www.cninfo.com.cn |
Announcementofrelatedpartytransaction | March16,2022 | www.cninfo.com.cn |
XII.Significantcontractsandexecution
1.Entrustments,contractingandleasing
(1)Entrustment
□Applicable√NotapplicableNosuchcasesinthereportingperiod.
(2)Contracting
□Applicable√NotapplicableNosuchcasesinthereportingperiod.
(3)Leasing
□Applicable√NotapplicableNosuchcasesinthereportingperiod.
2.SignificantGuarantees
□Applicable√NotapplicableNosuchcasesinthereportingperiod.
3.Financemanagementoncommission
□Applicable√NotapplicableNosuchcasesinthereportingperiod.
4.Othersignificantcontract
□Applicable√NotapplicableNosuchcasesinthereportingperiod.XIII.Explanationonothersignificantevents
□Applicable√NotapplicableNosuchcasesinthereportingperiod.XIV.SignificanteventofsubsidiaryoftheCompany
√Applicable□Notapplicable
GuangdongProvincialExpresswayDevelopmentCo.,LtdreceivedtheinformalletterNo.24-[2022]YueTransportationOperation-"NoticeoftheDepartmentofTransportationofGuangdongProvinceonIssuesConcerningtheExpirationofTollCollectionofGuangfoExpressway"issuedbyGuangdongProvincialDepartmentofTransportation",withthemaincontentasfollows:
1.GuangfoExpresswayshallstoptollcollectionfrom0:00onMarch3,2022,retaintheexistingtollfacilitiesandoperateasusualinazero-ratemanner,exemptvehicletollsforallvehiclespassingthisroadsection,andcollectvehicletollsonbehalfforotherroadsections.
2.Afterthetollcollectionisstopped,GuangfoExpresswayCo.,LtdshallcontinuetoberesponsibleforthemanagementandmaintenanceofGuangfoExpressway.
GuangfoExpresswayCo.,LtdisaholdingsubsidiarytotheCompany,andtheCompanyholds75%ofitsequity.TheCompanyandGuangfoCompanywillconducttimelyinspection,maintenanceandmanagementofGuangfoExpresswayanditsancillaryfacilities,aswellascommunication,monitoring,networktollcollectionandothersystemsinstrictaccordancewiththenationalandprovincialstandardsandspecifications,thustoensurethattheyareingoodtechnicalconditionsandtoensuretheorderofnetworktollcollectionoperation.It
willdoagoodjobintrafficflowmonitoringandtrafficguidanceafterthetollcollectionofGuangfoExpresswayisstopped,andwillprovidehigh-qualityservicesforpassingvehiclesandpersonnel.
NoticeonIssuesConcerningtheExpirationofTollCollectionofGuangfoExpressway
Descriptionofprovisionalannouncement | Dateofdisclosingprovisionalannouncement | Descriptionofthewebsitefordisclosingprovisionalannouncements |
NoticeonIssuesConcerningtheExpirationofTollCollectionofGuangfoExpressway | 2022-02-23 | www.cninfo.com.cn |
VII.ChangeofsharecapitalandshareholdingofPrincipalShareholdersI.Changesinsharecapital
1.Changesinsharecapital
Inshares
Beforethechange | Increase/decrease(+,-) | AftertheChange | |||||||
Amount | Proportion | Shareallotment | Bonusshares | Capitalizationofcommonreservefund | Other | Subtotal | Quantity | Proportion | |
1.Shareswithconditionalsubscription | 439,254,717 | 21.01% | -421,322 | -421,322 | 438,833,395 | 20.98% | |||
1.State-ownedshares | 410,105,738 | 19.61% | 0 | 0 | 410,105,738 | 19.61% | |||
2.State-ownedlegalpersonshares | 21,712,738 | 1.04% | 0 | 0 | 21,712,738 | 1.04% | |||
3.Otherdomesticshares | 7,436,241 | 0.36% | -421,322 | -421,322 | 7,014,919 | 0.33% | |||
Including:DomesticLegalpersonshares | 6,863,511 | 0.33% | -319,575 | -319,575 | 6,543,936 | 0.31% | |||
Domesticnaturalpersonshares | 572,730 | 0.03% | -101,747 | -101,747 | 470,983 | 0.02% | |||
4.Foreignshares | 0 | 0.00% | 0 | 0 | 0 | 0.00% | |||
Including:Foreignlegalpersonshares | 0 | 0.00% | 0 | 0 | 0 | 0.00% | |||
Foreignnaturalpersonshares | 0 | 0.00% | 0 | 0 | 0 | 0.00% | |||
II.Shareswithunconditionalsubscription | 1,651,551,409 | 78.99% | 421,322 | 421,322 | 1,651,972,731 | 79.02% | |||
1.CommonsharesinRMB | 1,302,902,734 | 62.32% | 421,322 | 421,322 | 1,303,324,056 | 62.34% | |||
2.Foreignsharesindomesticmarket | 348,648,675 | 16.68% | 0 | 0 | 348,648,675 | 16.68% | |||
3.Foreignsharesinforeignmarket | 0 | 0.00% | 0 | 0 | 0 | 0.00% | |||
4.Other | 0 | 0.00% | 0 | 0 | 0 | 0.00% | |||
III.Totalofcapitalshares | 2,090,806,126 | 100.00% | 0 | 0 | 2,090,806,126 | 100.00% |
Reasonsforsharechanged
□Applicable√NotapplicableApprovalofChangeofShares
□Applicable√NotapplicableOwnershiptransferofsharechanges
□Applicable√NotapplicableInfluenceonthebasicEPSanddilutedEPSaswellasotherfinancialindexesofnetassetspershareattributabletocommonshareholdersofCompanyinlatestyearandperiod
□Applicable√NotapplicableOtherinformationnecessarytodiscloseforthecompanyorneedtodisclosedunderrequirementfromsecurityregulators
□Applicable√NotapplicableProgressonanysharerepurchase:
□Applicable√NotapplicableProgressonreducingtherepurchasedsharesbymeansofcentralizedbidding:
□Applicable√NotapplicableInfluenceonthebasicEPSanddilutedEPSaswellasotherfinancialindexesofnetassetspershareattributable
tocommonshareholdersofCompanyinlatestyearandperiod
□Applicable√NotapplicableOtherinformationnecessarytodiscloseforthecompanyorneedtodisclosedunderrequirementfromsecurityregulators
□Applicable√Notapplicable
2.Changeofshareswithlimitedsalescondition
√Applicable□Notapplicable
Inshares
ShareholderName | InitialRestrictedShares | NumberofUnrestrictedSharesThisTerm | NumberofIncreasedRestrictedSharesThisTerm | RestrictedSharesintheEndoftheTerm | ReasonforRestrictedShares | DateofRestrictionRemoval |
KongLingbinandother35shareholders | 99,797 | 99,797 | 0 | 0 | Sharereformrestrictedshare | January19,2022 |
FoshanShundeYunlongDevelopmentCo.,Ltd. | 319,575 | 319,575 | 0 | 0 | Sharereformrestrictedshare | January19,2022 |
DuJun | 7,800 | 1,950 | 5,850 | Outgoingexecutiveslockedupshares | January4,2022 | |
Total | 427,172 | 421,322 | 0 | 5,850 | -- | -- |
II.Securitiesissueandlisting
□Applicable√NotapplicableIII.Shareholdersandactualcontrollingshareholder
1.Numberofshareholdersandshareholding
InShares
Totalnumberofcommonshareholdersattheendofthereportingperiod | 47,944 | Totalnumberofpreferredshareholdersthathadrestoredthevotingrightattheendofthereportingperiod(ifany)(note8) | 0 | ||||||
Particularsaboutsharesheldabove5%byshareholdersortoptenshareholders | |||||||||
Shareholders | Natureofshareholder | Proportionofsharesheld(%) | Numberofsharesheldatperiod-end | Changesinreportingperiod | Amountofrestrictedsharesheld | Amountofun-restrictedsharesheld | Numberofsharepledged/frozen | ||
Stateofshare | Amount | ||||||||
GuangdongCommunicationGroupCo.,Ltd | State-ownedlegalperson | 24.56% | 513,485,480 | 410,105,738 | 103,379,742 | ||||
GuangdongHighwayConstructionCo.,Ltd, | State-ownedlegalperson | 22.30% | 466,325,020 | 466,325,020 | |||||
ShangdongExpresswayInvestmentDevelopmentCo.,Ltd. | State-ownedlegalperson | 9.68% | 202,429,149 | 202,429,149 | |||||
TibetHetaiEnterpriseManagementCo.,Ltd. | State-ownedlegalperson | 4.84% | 101,214,574 | 101,214,574 | |||||
Guangdong | State- | 2.53% | 52,937,491 | 19,582,228 | 33,355,263 |
ProvincialFreewayCo.,Ltd. | ownedlegalperson | ||||||||
FengWuchu | Domesticnaturalpersonshares | 1.04% | 21,646,105 | 58,134 | 21,646,105 | ||||
HKSCC | Overseaslegalperson | 0.87% | 18,112,455 | -1,417,176 | 18,112,455 | ||||
HappylifeinsuranceCo.,Ltd.-Dividend | Other | 0.81% | 16,928,878 | 86,400 | 16,928,878 | ||||
ChinaLifeInsuranceCo.,Ltd.-Dividend-Personaldividend-005L-FH002Shen | Other | 0.75% | 15,640,085 | -222,080 | 15,640,085 | ||||
XinyueCo.,Ltd. | Overseaslegalperson | 0.63% | 13,201,086 | 13,201,086 | |||||
Strategicinvestororgenerallegalpersonbecomingtop-10ordinaryshareholderduetorightsissue(ifany)(seenote3) | None | ||||||||
Relatedoracting-in-concertpartiesamongshareholdersabove | GuangdongCommunicationGroupCo.,Ltd.istheparentcompanyofGuangdongHighwayConstructionCo.,Ltd.,GuangdongProvincialFreewayCo.,Ltd.andXinyueCo.,Ltd.,ItisunknownwhetherthereisrelationshipbetweenothershareholdersandwhethertheyarepersonstakingconcertedactionspecifiedintheRegulationsonDisclosureofInformationaboutChangeinShareholdingofShareholdersofListedCompanies. | ||||||||
Aboveshareholdersentrustingorentrustedwithvotingrights,orwaivingvotingrights | None | ||||||||
Top10shareholdersincludingthespecialaccountforrepurchase(ifany)(seenote10) | None | ||||||||
Shareholdingoftop10shareholdersofunrestrictedshares | |||||||||
Nameoftheshareholder | Quantityofunrestrictedsharesheldattheendofthereportingperiod | Sharetype | |||||||
Sharetype | Quantity | ||||||||
GuangdongHighwayConstructionCo.,Ltd, | 466,325,020 | RMBCommonshares | 466,325,020 | ||||||
ShangdongExpresswayInvestmentDevelopmentCo.,Ltd. | 202,429,149 | RMBCommonshares | 202,429,149 | ||||||
GuangdongCommunicationGroupCo.,Ltd | 103,379,742 | RMBCommonshares | 103,379,742 | ||||||
TibetHetaiEnterpriseManagementCo.,Ltd. | 101,214,574 | RMBCommonshares | 101,214,574 | ||||||
GuangdongProvincialFreewayCo.,Ltd. | 33,355,263 | RMBCommonshares | 33,355,263 | ||||||
FengWuchu | 21,646,105 | RMBCommonshares | 19,187,242 | ||||||
Foreignsharesplacedindomestic | 2,458,863 | ||||||||
HKSCC | 18,112,455 | RMBCommonshares | 18,112,455 | ||||||
HappylifeinsuranceCo.,Ltd.-Dividend | 16,928,878 | RMBCommonshares | 16,928,878 | ||||||
ChinaLifeInsuranceCo.,Ltd.-Dividend-Personaldividend-005L-FH002Shen | 15,640,085 | RMBCommonshares | 15,640,085 | ||||||
XinyueCo.,Ltd. | 13,201,086 | Foreignsharesplacedindomestic | 13,201,086 | ||||||
Explanationonassociatedrelationshiporconsistentactionamongthetop10shareholdersofnon-restrictednegotiablesharesandthatbetweenthetop10shareholdersofnon-restricted | GuangdongCommunicationGroupCo.,Ltd.istheparentcompanyofGuangdongHighwayConstructionCo.,Ltd.,GuangdongProvincialFreewayCo.,Ltd.andXinyueCo.,Ltd.,ItisunknownwhetherthereisrelationshipbetweenothershareholdersandwhethertheyarepersonstakingconcertedactionspecifiedintheRegulationsonDisclosureofInformationaboutChangeinShareholdingofShareholdersofListedCompanies. |
negotiablesharesandtop10shareholders | |
Top10ordinaryshareholdersconductingsecuritiesmargintrading(ifany)(seenote4) | None |
Whethertoptencommonshareholdersortoptencommonshareholderswithun-restrictsharesheldhaveabuy-backagreementdealinginreportingperiod.
□Yes√NoThetoptencommonshareholdersortoptencommonshareholderswithun-restrictsharesheldoftheCompanyhavenobuy–backagreementdealinginreportingperiod.IV.Changesinshareholdingsofdirectors,supervisorsandexecutiveofficers
□Applicable√NotapplicableTherewasnochangeinshareholdingofdirectors,supervisorsandseniormanagementstaffs,forthespecificinformationpleaserefertothe2021AnnualReportV.ChangeofthecontrollingshareholderortheactualcontrollerChangeofthecontrollingshareholderinthereportingperiod
□Applicable√NotApplicableTherewasnoanychangeofthecontrollingshareholderoftheCompanyinthereportingperiod.Changeoftheactualcontrollerinthereportingperiod
□Applicable√NotapplicableTherewasnoanychangeoftheactualcontrolleroftheCompanyinthereportingperiod.
VIII.SituationofthePreferredShares
□Applicable√NotapplicableTheCompanyhadnopreferredsharesinthereportingperiod
IX.CorporateBond
√Applicable□NotapplicableI.Enterprisebond
□Applicable√NotapplicableNosuchcasesinthereportingperiod.II.Corporatebond
□Applicable√NotapplicableNosuchcasesinthereportingperiod.
III.Debtfinancinginstrumentsofnon-financialenterprises
√Applicable□Notapplicable
1.Basicinformation
InRMB
Bondname | Bondshortname | Bondcode | Issueday | Valuedate | Dueday | Bondbalance | Interestrate | Servicingway | Trading |
GuangdongProvincialExpresswayDevelopmentCo.,Ltd.2019firstphasemedium-termnotes | 19GuangdongExpresswayMTN001 | 101900252 | February27,2019 | March1,2019 | March1,2024 | 679,249,314.45 | 4% | Duepaymentsonceayear,Theprincipalandthelastinstalmentinterestarepaidinonelumpsumontheredemptiondate. | Interbankmarket |
GuangdongProvincialExpresswayDevelopmentCo.,Ltd.2020firstphasemedium-termnotes | 20GuangdongExpresswayMTN001 | 102000367 | March13,2020 | March17,2020 | March17,2025 | 748,654,443.53 | 3% | Duepaymentsonceayear,Theprincipalandthelastinstalmentinterestarepaidinonelumpsumontheredemptiondate. | Interbankmarket |
Overdueandunpaidbonds
□Applicable√Notapplicable
2.Triggerandimplementationofoptionclausesandinvestorprotectionclausesoftheissuerorinvestor
□Applicable√Notapplicable
3.Adjustmentofcreditratingresultsduringthereportingperiod
□Applicable√Notapplicable4Theimplementationandchangesofguarantee,debtrepaymentplanandotherdebtrepaymentguaranteemeasuresduringthereportingperiodandtheirimpactontherightsandinterestsofbondinvestors
□Applicable√Notapplicable
IV.Convertiblebond
□Applicable√NotapplicableNosuchcasesinthereportingperiodV.Thelosswithinthescopeofconsolidatedstatementsinthereportingperiodexceeded10%ofthenetassetsattheendofthepreviousyear
□Applicable√NotapplicableVI.MainaccountingdataandfinancialindicatorsoftheCompanyinrecenttwoyearsbytheendofthereportingperiod
InRMB10,000
Items | Attheendofthereportingperiod | Attheendoflastyear | Atthesametimerateofchange |
Currentratio | 1.66 | 2.70 | -38.52% |
Debtratio | 44.89% | 40.02% | 4.87% |
Quickratio | 1.66 | 2.70 | -38.52% |
Amountofthisperiod
Amountofthisperiod | Amountoflastperiod | Atthesametimerateofchange | |
Netprofitafterdeductingnon-recurringprofitandloss | 74,309.01 | 84,274.32 | -11.82% |
EBITDAtotaldebtratio | 29.29% | 30.89% | -1.60% |
Timeinterestearnedratio | 11.94 | 11.13 | 7.28% |
Cashinterestguaranteetimes | 12.62 | 12.29 | 2.69% |
EBITDATimeinterestearnedratio | 15.96 | 15.46 | 3.23% |
Repaymentofdebt(%) | 100.00% | 100.00% | —— |
Paymentofinterest(%) | 100.00% | 100.00% | —— |
X.FinancialReportI.AuditreportHasthissemi-annualreportbeenaudited?
□Yes√NoThesemi-annualreportwasnotaudited.II.FinancialstatementsCurrencyunitforthestatementsinthenotestothesefinancialstatements:RMB
1.ConsolidatedbalancesheetPreparedby:GuangdongProvincialExpresswayDevelopmentCo.,Ltd.
June30,2022
InRMB
Items | June30,2022 | January1,2022 |
Currentasset: | ||
Monetaryfund | 4,044,215,849.07 | 2,956,404,390.55 |
Settlementprovision | ||
Outgoingcallloan | ||
Transactionalfinancialassets | ||
Derivativefinancialassets | ||
Notesreceivable | ||
Accountreceivable | 125,230,522.84 | 159,053,399.87 |
Financingofreceivables | ||
Prepayments | 5,721,764.07 | 5,227,647.09 |
Insurancereceivable | ||
Reinsurancereceivable | ||
ProvisionsofReinsurancecontractsreceivable | ||
Otheraccountreceivable | 13,847,533.70 | 13,761,124.23 |
Including:Interestreceivable | ||
Dividendreceivable | 1,205,472.90 | 1,205,472.90 |
Otherreceivable | 12,642,060.80 | 12,555,651.33 |
Repurchasingoffinancialassets | ||
Inventories | 640,079.66 | |
Contractassets | 5,286,462.45 | |
Assetsheldforsales | ||
Non-currentassetduewithin1year | 3,413,274.50 | 2,782,974.53 |
Othercurrentasset | 22,047,193.48 | 21,213.96 |
Totalofcurrentassets | 4,214,476,137.66 | 3,143,177,292.34 |
Non-currentassets: | ||
Loansandpaymentonother’sbehalfdisbursed | ||
Creditor'srightinvestment | ||
Othercreditor'srightinvestment | ||
Long-termreceivable | ||
Longtermshareequityinvestment | 2,820,130,077.40 | 2,627,130,681.24 |
Items | June30,2022 | January1,2022 |
Otherequityinstrumentsinvestment | 1,524,908,322.00 | 1,577,175,826.05 |
Othernon-currentfinancialassets | 91,000,000.00 | |
Propertyinvestment | 2,778,704.17 | 2,889,263.41 |
Fixedassets | 10,148,446,100.45 | 10,639,272,192.02 |
Constructioninprogress | 475,554,879.75 | 351,130,455.06 |
Productionphysicalassets | ||
Oil&gasassets | ||
Userightassets | 8,937,861.63 | 14,100,325.01 |
Intangibleassets | 256,314,659.97 | 268,504,176.43 |
Developmentexpenses | ||
Goodwill | ||
Long-germexpensestobeamortized | 2,103,750.00 | |
Deferredincometaxasset | 170,626,707.99 | 225,243,885.27 |
Othernon-currentasset | 24,046,566.62 | 25,038,952.48 |
Totalofnon-currentassets | 15,522,743,879.98 | 15,732,589,506.97 |
Totalofassets | 19,737,220,017.64 | 18,875,766,799.31 |
Currentliabilities | ||
Short-termloans | 320,266,666.67 | |
LoanfromCentralBank | ||
Borrowingfunds | ||
Transactionalfinancialliabilities | ||
Derivativefinancialliabilities | ||
Notespayable | ||
Accountpayable | 133,068,489.27 | 264,487,139.44 |
Advancereceipts | 3,744,384.23 | 10,660,208.51 |
Contractliabilities | 22,000.00 | |
Sellingofrepurchasedfinancialassets | ||
Deposittakingandinterbankdeposit | ||
Entrustedtradingofsecurities | ||
Entrustedsellingofsecurities | ||
Employees’wagepayable | 19,696,314.69 | 19,213,631.91 |
Taxpayable | 136,183,035.82 | 164,612,512.99 |
Otheraccountpayable | 1,454,190,361.08 | 177,970,483.76 |
Including:Interestpayable | ||
Dividendpayable | 1,312,635,476.59 | 22,941,943.24 |
Otherpayable | 141,554,884.49 | 155,028,540.52 |
Feesandcommissionspayable | ||
Reinsurancefeepayable | ||
Liabilitiesheldforsales | ||
Non-currentliabilityduewithin1year | 469,749,328.35 | 525,644,368.26 |
Othercurrentliability | 1,133,695.05 | 726,336.48 |
Totalofcurrentliability | 2,538,032,275.16 | 1,163,336,681.35 |
Non-currentliabilities: | ||
Reservefundforinsurancecontracts | ||
Long-termloan | 4,534,385,100.00 | 4,572,621,200.00 |
Bondpayable | 1,427,903,757.98 | 1,427,434,086.58 |
Including:preferredstock | ||
Sustainabledebt | ||
Leaseliability | 222,305.08 | 2,773,459.76 |
Long-termpayable | 2,517,493.12 | 3,461,832.74 |
Long-termremunerationpayabletostaff | ||
Expectedliabilities | ||
Deferredincome | 69,833,092.84 | 69,228,093.11 |
Deferredincometaxliability | 286,609,571.34 | 315,922,287.64 |
Othernon-currentliabilities |
Items | June30,2022 | January1,2022 |
Totalnon-currentliabilities | 6,321,471,320.36 | 6,391,440,959.83 |
Totalofliability | 8,859,503,595.52 | 7,554,777,641.18 |
Owners’equity | ||
Sharecapital | 2,090,806,126.00 | 2,090,806,126.00 |
Otherequityinstruments | ||
Including:preferredstock | ||
Sustainabledebt | ||
Capitalreserves | 733,168,659.66 | 713,460,518.49 |
Less:Sharesinstock | ||
Othercomprehensiveincome | 157,305,395.74 | 192,177,466.34 |
Specialreserve | ||
Surplusreserves | 1,225,375,330.56 | 1,225,375,330.56 |
Commonriskprovision | ||
Retainedprofit | 4,342,645,903.64 | 4,760,618,543.78 |
Totalofowner’sequitybelongtotheparentcompany | 8,549,301,415.60 | 8,982,437,985.17 |
Minorityshareholders’equity | 2,328,415,006.52 | 2,338,551,172.96 |
Totalofowners’equity | 10,877,716,422.12 | 11,320,989,158.13 |
Totalofliabilitiesandowners’equity | 19,737,220,017.64 | 18,875,766,799.31 |
LegalRepresentative:MiaoDeshanGeneralManager:WangChunhuaPersoninchargeofaccounting:LuMingAccountingDeptLeader:ZhouFang
2.ParentCompanyBalanceSheet
InRMB
Items | June30,2022 | January1,2022 |
Currentasset: | ||
Monetaryfund | 2,503,652,138.67 | 1,860,836,127.30 |
Transactionalfinancialassets | ||
Derivativefinancialassets | ||
Notesreceivable | ||
Accountreceivable | 23,382,037.78 | 24,208,692.49 |
Financingofreceivables | ||
Prepayments | 1,513,664.00 | 4,311,419.00 |
Otheraccountreceivable | 109,927,575.03 | 6,885,982.60 |
Including:Interestreceivable | ||
Dividendreceivable | 103,205,472.90 | 1,205,472.90 |
Otherreceivable | 6,722,102.13 | 5,680,509.70 |
Inventories | ||
Contractassets | ||
Assetsheldforsales | ||
Non-currentassetduewithin1year | 279,177,659.24 | 278,562,652.27 |
Othercurrentasset | 380,399.40 | 11,067.41 |
Totalofcurrentassets | 2,918,033,474.12 | 2,174,815,941.07 |
Non-currentassets: | ||
Creditor'srightinvestment | ||
Othercreditor'srightinvestment | ||
Long-termreceivable | ||
Longtermshareequityinvestment | 5,973,677,507.66 | 5,792,610,802.46 |
Otherequityinstrumentsinvestment | 1,524,908,322.00 | 1,577,175,826.05 |
Othernon-currentfinancialassets | ||
Propertyinvestment | 2,526,565.92 | 2,637,125.16 |
Fixedassets | 5,502,957,671.60 | 5,707,608,552.14 |
Constructioninprogress | 71,591,095.39 | 43,594,243.12 |
Productionphysicalassets | ||
Oil&gasassets | ||
Userightassets | 7,840,662.26 | 12,611,748.50 |
Intangibleassets | 136,752,374.21 | 140,756,147.03 |
Developmentexpenses | ||
Goodwill | ||
Long-germexpensestobeamortized | ||
Deferredincometaxasset | 164,802,202.16 | 218,624,401.07 |
Othernon-currentasset | 14,434,283.48 | |
Totalofnon-currentassets | 13,385,056,401.20 | 13,510,053,129.01 |
Totalofassets | 16,303,089,875.32 | 15,684,869,070.08 |
Currentliabilities | ||
Short-termloans | ||
Transactionalfinancialliabilities | ||
Derivativefinancialliabilities | ||
Notespayable | ||
Accountpayable | 86,315,059.08 | 105,685,908.27 |
Advancereceipts | 752,954.28 | 250,984.75 |
ContractLiabilities | ||
Employees’wagepayable | 6,798,097.51 | 6,825,973.81 |
Taxpayable | 5,588,770.60 | 7,330,856.79 |
Otheraccountpayable | 1,653,510,704.37 | 690,062,820.89 |
Including:Interestpayable | ||
Dividendpayable |
Items | June30,2022 | January1,2022 |
Liabilitiesheldforsales | ||
Non-currentliabilityduewithin1year | 401,413,978.99 | 456,996,690.91 |
Othercurrentliability | 638,149.43 | 37,299.97 |
Totalofcurrentliability | 2,155,017,714.26 | 1,267,190,535.39 |
Non-currentliabilities: | ||
Long-termloan | 4,053,695,100.00 | 4,058,096,200.00 |
Bondpayable | 1,427,903,757.98 | 1,427,434,086.58 |
Including:preferredstock | ||
Sustainabledebt | ||
Leaseliability | 2,445,724.58 | |
Long-termpayable | 2,517,493.12 | 3,461,832.74 |
Long-termremunerationpayabletostaff | ||
Expectedliabilities | ||
Deferredincome | 8,479,655.90 | 10,120,879.64 |
Deferredincometaxliability | 48,353,580.55 | 66,399,854.20 |
Othernon-currentliabilities | ||
Totalnon-currentliabilities | 5,540,949,587.55 | 5,567,958,577.74 |
Totalofliability | 7,695,967,301.81 | 6,835,149,113.13 |
Owners’equity | ||
Sharecapital | 2,090,806,126.00 | 2,090,806,126.00 |
Otherequityinstruments | ||
Including:preferredstock | ||
Sustainabledebt | ||
Capitalreserves | 934,939,522.68 | 934,851,285.51 |
Less:Sharesinstock | ||
Othercomprehensiveincome | 157,305,395.74 | 192,177,466.34 |
Specialreserve | ||
Surplusreserves | 1,045,403,063.00 | 1,045,403,063.00 |
Retainedprofit | 4,378,668,466.09 | 4,586,482,016.10 |
Totalofowners’equity | 8,607,122,573.51 | 8,849,719,956.95 |
Totalofliabilitiesandowners’equity | 16,303,089,875.32 | 15,684,869,070.08 |
3.ConsolidatedIncomestatement
InRMB
Items | Thefirsthalfyearof2022 | Thefirsthalfyearof2021 |
I.Incomefromthekeybusiness | 2,057,420,809.68 | 2,488,474,669.81 |
Incl:Businessincome | 2,057,420,809.68 | 2,488,474,669.81 |
Interestincome | ||
Insurancefeeearned | ||
Feeandcommissionreceived | ||
II.Totalbusinesscost | 879,520,254.68 | 1,114,434,707.99 |
Incl:Businesscost | 696,143,722.50 | 889,127,742.43 |
Interestexpense | ||
Feeandcommissionpaid | ||
Insurancedischargepayment | ||
Netclaimamountpaid | ||
Netamountofwithdrawalofinsurancecontractreserve | ||
Insurancepolicydividendpaid | ||
Reinsuranceexpenses | ||
Businesstaxandsurcharge | 8,932,321.30 | 11,081,346.10 |
Salesexpense | ||
Administrativeexpense | 85,773,267.04 | 93,357,035.39 |
R&Dcosts | 1,368,887.22 | |
Financialexpenses | 87,302,056.62 | 120,868,584.07 |
Including:Interestexpense | 123,517,238.10 | 149,343,110.61 |
Interestincome | 36,907,508.27 | 29,751,089.44 |
Add:Otherincome | 8,178,352.38 | 9,922,369.03 |
Investmentgain(“-”forloss) | 162,384,354.53 | 172,050,127.56 |
Incl:investmentgainsfromaffiliates | 101,624,848.46 | 122,646,589.32 |
Financialassetsmeasuredatamortizedcostceasetoberecognizedasincome | ||
Gainsfromcurrencyexchange | ||
Netexposurehedgingincome | ||
Changingincomeoffairvalue | ||
Creditimpairmentloss | -1,310,999.95 | |
Impairmentlossofassets | -2,889,394.16 | |
Assetsdisposalincome | 463,363.89 | |
III.Operationalprofit(“-”forloss) | 1,348,926,625.80 | 1,551,812,064.30 |
Add:Non-operationalincome | 5,821,631.65 | 4,011,220.05 |
Less:Non-operatingexpense | 2,955,659.39 | 1,811,321.13 |
IV.Totalprofit(“-”forloss) | 1,351,792,598.06 | 1,554,011,963.22 |
Less:Incometaxexpenses | 290,240,426.63 | 354,025,065.47 |
V.Netprofit | 1,061,552,171.43 | 1,199,986,897.75 |
(I)Classificationbybusinesscontinuity | ||
1.Netcontinuingoperatingprofit | 1,061,552,171.43 | 1,199,986,897.75 |
2.Terminationofoperatingnetprofit | ||
(II)Classificationbyownership | ||
1.Netprofitattributabletotheownersofparentcompany | 773,786,851.68 | 848,860,350.64 |
2.Minorityshareholders’equity | 287,765,319.75 | 351,126,547.11 |
VI.Netafter-taxofothercomprehensiveincome | -34,872,070.60 | -35,057,445.36 |
Netofprofitofothercomprehensiveincomeattributabletoownersoftheparentcompany. | -34,872,070.60 | -35,057,445.36 |
(I)Othercomprehensiveincomeitemsthatwillnotbereclassifiedintogains/lossesinthesubsequentaccountingperiod | -34,035,245.89 | -37,052,653.68 |
1.Re-measurementofdefinedbenefitplansofchangesinnetdebtornetassets |
2.Othercomprehensiveincomeundertheequitymethodinvesteecannotbereclassifiedintoprofitorloss. | ||
3.Changesinthefairvalueofinvestmentsinotherequityinstruments | -34,035,245.89 | -37,052,653.68 |
4.Changesinthefairvalueofthecompany’screditrisks | ||
5.Other | ||
(II)Othercomprehensiveincomethatwillbereclassifiedintoprofitorloss. | -836,824.71 | 1,995,208.32 |
1.Othercomprehensiveincomeundertheequitymethodinvesteecanbereclassifiedintoprofitorloss. | -836,824.71 | 1,995,208.32 |
2.Changesinthefairvalueofinvestmentsinotherdebtobligations | ||
3.Othercomprehensiveincomearisingfromthereclassificationoffinancialassets | ||
4.Allowanceforcreditimpairmentsininvestmentsinotherdebtobligations | ||
5.Reserveforcashflowhedges | ||
6.Translationdifferencesincurrencyfinancialstatements | ||
7.Other | ||
NetofprofitofothercomprehensiveincomeattributabletoMinorityshareholders’equity | ||
VII.Totalcomprehensiveincome | 1,026,680,100.83 | 1,164,929,452.39 |
Totalcomprehensiveincomeattributabletotheowneroftheparentcompany | 738,914,781.08 | 813,802,905.28 |
Totalcomprehensiveincomeattributableminorityshareholders | 287,765,319.75 | 351,126,547.11 |
VIII.Earningspershare | ||
(I)Basicearningspershare | 0.37 | 0.41 |
(II)Dilutedearningspershare | 0.37 | 0.41 |
Thecurrentbusinesscombinationundercommoncontrol,thenetprofitsofthecombinedpartybeforeachievednetprofitofRMB0.00,lastperiodthecombinedpartyrealizedRMB0.00.LegalRepresentative:MiaoDeshanGeneralManager:WangChunhua,,Personinchargeofaccounting:LuMingAccountingDeptLeader:ZhouFang
4.IncomestatementoftheParentCompany
InRMB
Items | Thefirsthalfyearof2022 | Thefirsthalfyearof2021 |
I.Incomefromthekeybusiness | 642,655,502.74 | 692,634,698.13 |
Incl:Businesscost | 251,072,086.53 | 367,240,160.93 |
Businesstaxandsurcharge | 3,509,918.91 | 3,738,582.05 |
Salesexpense | ||
Administrativeexpense | 49,546,552.29 | 47,922,792.66 |
R&Dexpense | ||
Financialexpenses | 95,640,651.97 | 127,541,297.15 |
Including:Interestexpenses | 115,831,785.91 | 145,100,046.47 |
Interestincome | 20,217,007.24 | 17,596,981.65 |
Add:Otherincome | 2,295,878.36 | 2,125,443.39 |
Investmentgain(“-”forloss) | 791,745,612.18 | 844,032,026.57 |
Including:investmentgainsfromaffiliates | 98,424,039.92 | 119,611,129.91 |
Financialassetsmeasuredatamortizedcostceasetoberecognizedasincome | ||
Netexposurehedgingincome | ||
Changingincomeoffairvalue | ||
Creditimpairmentloss | ||
Impairmentlossofassets | -2,889,394.16 |
Assetsdisposalincome | 463,363.89 | |
II.Operationalprofit(“-”forloss) | 1,037,391,147.47 | 989,459,941.14 |
Add:Non-operationalincome | 562,977.76 | 655,426.85 |
Less:Non-operationalexpenses | 22,733.31 | |
III.Totalprofit(“-”forloss) | 1,037,954,125.23 | 990,092,634.68 |
Less:Incometaxexpenses | 54,008,183.42 | 42,194,605.52 |
IV.Netprofit | 983,945,941.81 | 947,898,029.16 |
1.Netcontinuingoperatingprofit | 983,945,941.81 | 947,898,029.16 |
2.Terminationofoperatingnetprofit | ||
V.Netafter-taxofothercomprehensiveincome | -34,872,070.60 | -35,057,445.36 |
(I)Othercomprehensiveincomeitemsthatwillnotbereclassifiedintogains/lossesinthesubsequentaccountingperiod | -34,035,245.89 | -37,052,653.68 |
1.Re-measurementofdefinedbenefitplansofchangesinnetdebtornetassets | ||
2.Othercomprehensiveincomeundertheequitymethodinvesteecannotbereclassifiedintoprofitorloss. | ||
3.Changesinthefairvalueofinvestmentsinotherequityinstruments | -34,035,245.89 | -37,052,653.68 |
4.Changesinthefairvalueofthecompany’screditrisks | ||
5.Other | ||
(II)Othercomprehensiveincomethatwillbereclassifiedintoprofitorloss | -836,824.71 | 1,995,208.32 |
1.Othercomprehensiveincomeundertheequitymethodinvesteecanbereclassifiedintoprofitorloss. | -836,824.71 | 1,995,208.32 |
2.Changesinthefairvalueofinvestmentsinotherdebtobligations | ||
3.Othercomprehensiveincomearisingfromthereclassificationoffinancialassets | ||
4.Allowanceforcreditimpairmentsininvestmentsinotherdebtobligations | ||
5.Reserveforcashflowhedges | ||
6.Translationdifferencesincurrencyfinancialstatements | ||
7.Other | ||
VI.Totalcomprehensiveincome | 949,073,871.21 | 912,840,583.80 |
VII.Earningspershare | ||
(I)Basicearningspershare | ||
(II)Dilutedearningspershare |
LegalRepresentative:MiaoDeshanGeneralManager:WangChunhuaPersoninchargeofaccounting:LuMingAccountingDeptLeader:ZhouFang
5.ConsolidatedCashflowstatement
InRMB
Items | Thefirsthalfyearof2022 | Thefirsthalfyearof2021 |
I.Cashflowsfromoperatingactivities | ||
Cashreceivedfromsalesofgoodsorrendingofservices | 2,100,682,366.85 | 2,575,650,836.44 |
Netincreaseofcustomerdepositsandcapitalkeptforbrothercompany | ||
Netincreaseofloansfromcentralbank | ||
Netincreaseofinter-bankloansfromotherfinancialbodies | ||
Cashreceivedagainstoriginalinsurancecontract | ||
Netcashreceivedfromreinsurancebusiness | ||
Netincreaseofclientdepositandinvestment | ||
Cashreceivedfrominterest,commissionchargeandcommission | ||
Netincreaseofinter-bankfundreceived | ||
Netincreaseofrepurchasingbusiness | ||
Netcashreceivedbyagentinsecuritiestrading | ||
Taxreturned | ||
Othercashreceivedfrombusinessoperation | 67,435,536.39 | 62,165,772.17 |
Sub-totalofcashinflow | 2,168,117,903.24 | 2,637,816,608.61 |
Cashpaidforpurchasingofmerchandiseandservices | 131,225,559.09 | 153,110,239.80 |
Netincreaseofclienttradeandadvance | ||
Netincreaseofsavingsincentralbankandbrothercompany | ||
Cashpaidfororiginalcontractclaim | ||
Netincreaseinfinancialassetsheldfortradingpurposes | ||
NetincreaseforOutgoingcallloan | ||
Cashpaidforinterest,processingfeeandcommission | ||
Cashpaidtostaffsorpaidforstaffs | 201,663,653.64 | 195,340,890.00 |
Taxespaid | 344,543,903.69 | 448,200,872.16 |
Othercashpaidforbusinessactivities | 47,133,520.52 | 25,871,389.40 |
Sub-totalofcashoutflowfrombusinessactivities | 724,566,636.94 | 822,523,391.36 |
Netcashgeneratedfrom/usedinoperatingactivities | 1,443,551,266.30 | 1,815,293,217.25 |
II.Cashflowgeneratedbyinvesting | ||
Cashreceivedfrominvestmentretrieving | 22,500,000.00 | |
Cashreceivedasinvestmentgains | 114,163,108.50 | 51,523,258.20 |
Netcashretrievedfromdisposaloffixedassets,intangibleassets,andotherlong-termassets | 522,436.84 | 9,900.00 |
Netcashreceivedfromdisposalofsubsidiariesorotheroperationalunits | 28,514,496.27 | |
Otherinvestment-relatedcashreceived | ||
Sub-totalofcashinflowduetoinvestmentactivities | 143,200,041.61 | 74,033,158.20 |
Cashpaidforconstructionoffixedassets,intangibleassetsandotherlong-termassets | 168,081,166.80 | 232,853,557.14 |
Cashpaidasinvestment | 250,091,000.00 | |
Netincreaseofloanagainstpledge | ||
Netcashreceivedfromsubsidiariesandotheroperationalunits | ||
Othercashpaidforinvestmentactivities | ||
Sub-totalofcashoutflowduetoinvestmentactivities | 418,172,166.80 | 232,853,557.14 |
Netcashflowgeneratedbyinvestment | -274,972,125.19 | -158,820,398.94 |
III.Cashflowgeneratedbyfinancing | ||
Cashreceivedasinvestment | ||
Including:Cashreceivedasinvestmentfromminorshareholders | ||
Cashreceivedasloans | 320,000,000.00 | 1,166,930,000.00 |
Otherfinancing–relatedcashreceived | 38,470,400.00 | 97,731,650.00 |
Sub-totalofcashinflowfromfinancingactivities | 358,470,400.00 | 1,264,661,650.00 |
Cashtorepaydebts | 65,836,100.00 | 363,908,100.00 |
Cashpaidasdividend,profit,orinterests | 367,159,468.70 | 609,553,626.92 |
Including:Dividendandprofitpaidbysubsidiariestominor | 218,751,982.19 | 417,577,776.30 |
Items | Thefirsthalfyearof2022 | Thefirsthalfyearof2021 |
shareholders | ||
Othercashpaidforfinancingactivities | 6,242,513.89 | 1,227,774,134.86 |
Sub-totalofcashoutflowduetofinancingactivities | 439,238,082.59 | 2,201,235,861.78 |
Netcashflowgeneratedbyfinancing | -80,767,682.59 | -936,574,211.78 |
IV.Influenceofexchangeratealternationoncashandcashequivalents | ||
V.Netincreaseofcashandcashequivalents | 1,087,811,458.52 | 719,898,606.53 |
Add:balanceofcashandcashequivalentsatthebeginningofterm | 2,955,183,190.55 | 2,846,176,803.89 |
VI..Balanceofcashandcashequivalentsattheendofterm | 4,042,994,649.07 | 3,566,075,410.42 |
LegalRepresentative:MiaoDeshanGeneralManager:WangChunhuaPersoninchargeofaccounting:LuMingAccountingDeptLeader:ZhouFang
6.CashFlowStatementoftheParentCompany
InRMB
Items | Thefirsthalfyearof2022 | Thefirsthalfyearof2021 |
I.Cashflowsfromoperatingactivities | ||
Cashreceivedfromsalesofgoodsorrendingofservices | 661,912,004.69 | 720,086,995.35 |
Taxreturned | ||
Othercashreceivedfrombusinessoperation | 24,521,728.95 | 44,973,397.60 |
Sub-totalofcashinflow | 686,433,733.64 | 765,060,392.95 |
Cashpaidforpurchasingofmerchandiseandservices | 13,570,674.87 | 17,069,701.31 |
Cashpaidtostaffsorpaidforstaffs | 60,633,887.05 | 61,391,499.13 |
Taxespaid | 23,470,841.12 | 27,826,685.08 |
Othercashpaidforbusinessactivities | 236,627,095.73 | 73,534,284.42 |
Sub-totalofcashoutflowfrombusinessactivities | 334,302,498.77 | 179,822,169.94 |
Netcashgeneratedfrom/usedinoperatingactivities | 352,131,234.87 | 585,238,223.01 |
II.Cashflowgeneratedbyinvesting | ||
Cashreceivedfrominvestmentretrieving | 60,623,900.00 | 37,500,000.00 |
Cashreceivedasinvestmentgains | 693,296,160.51 | 707,197,026.42 |
Netcashretrievedfromdisposaloffixedassets,intangibleassets,andotherlong-termassets | 517,888.00 | 2,600.00 |
Netcashreceivedfromdisposalofsubsidiariesorotheroperationalunits | ||
Otherinvestment-relatedcashreceived | ||
Sub-totalofcashinflowduetoinvestmentactivities | 754,437,948.51 | 744,699,626.42 |
Cashpaidforconstructionoffixedassets,intangibleassetsandotherlong-termassets | 43,488,728.78 | 94,360,520.74 |
Cashpaidasinvestment | 246,000,000.00 | 1,246,839,292.00 |
Netcashreceivedfromsubsidiariesandotheroperationalunits | ||
Othercashpaidforinvestmentactivities | ||
Sub-totalofcashoutflowduetoinvestmentactivities | 289,488,728.78 | 1,341,199,812.74 |
Netcashflowgeneratedbyinvestment | 464,949,219.73 | -596,500,186.32 |
III.Cashflowgeneratedbyfinancing | ||
Cashreceivedasinvestment | ||
Cashreceivedasloans | 1,166,930,000.00 | |
Otherfinancing–relatedashreceived | ||
Sub-totalofcashinflowfromfinancingactivities | 1,166,930,000.00 | |
Cashtorepaydebts | 32,001,100.00 | 322,573,100.00 |
Cashpaidasdividend,profit,orinterests | 136,048,729.34 | 178,730,958.24 |
Othercashpaidforfinancingactivities | 6,214,613.89 | 5,916,242.86 |
Sub-totalofcashoutflowduetofinancingactivities | 174,264,443.23 | 507,220,301.10 |
Netcashflowgeneratedbyfinancing | -174,264,443.23 | 659,709,698.90 |
IV.Influenceofexchangeratealternationoncashandcashequivalents | ||
V.Netincreaseofcashandcashequivalents | 642,816,011.37 | 648,447,735.59 |
Add:balanceofcashandcashequivalentsatthebeginningofterm | 1,859,614,927.30 | 1,780,543,319.09 |
VI..Balanceofcashandcashequivalentsattheendofterm | 2,502,430,938.67 | 2,428,991,054.68 |
LegalRepresentative:MiaoDeshanGeneralManager:WangChunhuaPersoninchargeofaccounting:LuMingAccountingDeptLeader:ZhouFang
7.ConsolidatedStatementonChangeinOwners’EquityAmountinthisperiod
InRMB
Items | Thefirsthalfyearof2022 | ||||||||||||||
Owner’sequityAttributabletotheParentCompany | Minorshareholders’equity | Totalofowners’equity | |||||||||||||
ShareCapital | OtherEquityinstrument | Capitalreserves | Less:Sharesinstock | OtherComprehensiveIncome | Specializedreserve | Surplusreserves | Commonriskprovision | Retainedprofit | Other | Subtotal | |||||
Preferredstock | Sustainabledebt | Other | |||||||||||||
I.Balanceattheendoflastyear | 2,090,806,126.00 | 713,460,518.49 | 192,177,466.34 | 1,225,375,330.56 | 4,760,618,543.78 | 8,982,437,985.17 | 2,338,551,172.96 | 11,320,989,158.13 | |||||||
Add:Changeofaccountingpolicy | |||||||||||||||
Correctingofpreviouserrors | |||||||||||||||
Mergerofentitiesundercommoncontrol | |||||||||||||||
Other | |||||||||||||||
II.Balanceatthebeginningofcurrentyear | 2,090,806,126.00 | 713,460,518.49 | 192,177,466.34 | 1,225,375,330.56 | 4,760,618,543.78 | 8,982,437,985.17 | 2,338,551,172.96 | 11,320,989,158.13 | |||||||
III.Changedinthecurrentyear | 19,708,141.17 | -34,872,070.60 | -417,972,640.14 | -433,136,569.57 | -10,136,166.44 | -443,272,736.01 | |||||||||
(1)Totalcomprehensiveincome | -34,872,070.60 | 773,786,851.68 | 738,914,781.08 | 287,765,319.75 | 1,026,680,100.83 | ||||||||||
(II)Investmentordecreasingofcapitalbyowners | |||||||||||||||
1.OrdinarySharesinvestedbyshareholders | |||||||||||||||
2.Holdersofotherequityinstrume |
Items | Thefirsthalfyearof2022 | ||||||||||||||
Owner’sequityAttributabletotheParentCompany | Minorshareholders’equity | Totalofowners’equity | |||||||||||||
ShareCapital | OtherEquityinstrument | Capitalreserves | Less:Sharesinstock | OtherComprehensiveIncome | Specializedreserve | Surplusreserves | Commonriskprovision | Retainedprofit | Other | Subtotal | |||||
Preferredstock | Sustainabledebt | Other | |||||||||||||
ntsinvestedcapital | |||||||||||||||
3.Amountofsharespaidandaccountedasowners’equity | |||||||||||||||
4.Other | |||||||||||||||
(III)Profitallotment | -1,191,759,491.82 | -1,191,759,491.82 | -316,751,982.19 | -1,508,511,474.01 | |||||||||||
1.Providingofsurplusreserves | |||||||||||||||
2.Providingofcommonriskprovisions | |||||||||||||||
3.Allotmenttotheowners(orshareholders) | -1,191,759,491.82 | -1,191,759,491.82 | -316,751,982.19 | -1,508,511,474.01 | |||||||||||
4.Other | |||||||||||||||
(IV)Internaltransferringofowners’equity | |||||||||||||||
1.Capitalizingofcapitalreserves(ortocapitalshares) | |||||||||||||||
2.Capitalizingofsurplusreserves(ortocapitalshares) | |||||||||||||||
3.Makinguplossesbysurplusreserves. |
Items | Thefirsthalfyearof2022 | ||||||||||||||
Owner’sequityAttributabletotheParentCompany | Minorshareholders’equity | Totalofowners’equity | |||||||||||||
ShareCapital | OtherEquityinstrument | Capitalreserves | Less:Sharesinstock | OtherComprehensiveIncome | Specializedreserve | Surplusreserves | Commonriskprovision | Retainedprofit | Other | Subtotal | |||||
Preferredstock | Sustainabledebt | Other | |||||||||||||
4.ChangeamountofdefinedbenefitplansthatcarryforwardRetainedearnings | |||||||||||||||
5.Othercomprehensiveincomecarry-overretainedearnings | |||||||||||||||
6.Other | |||||||||||||||
(V).Specialreserves | |||||||||||||||
1.Providedthisyear | |||||||||||||||
2.Usedthisterm | |||||||||||||||
(VI)Other | 19,708,141.17 | 19,708,141.17 | 18,850,496.00 | 38,558,637.17 | |||||||||||
IV.Balanceattheendofthisterm | 2,090,806,126.00 | 733,168,659.66 | 157,305,395.74 | 1,225,375,330.56 | 4,342,645,903.64 | 8,549,301,415.60 | 2,328,415,006.52 | 10,877,716,422.12 |
LegalRepresentative:MiaoDeshanGeneralManager:WangChunhuaPersoninchargeofaccounting:LuMingAccountingDeptLeader:ZhouFang
Amountinlastyear
InRMB
Items | Thefirsthalfyearof2021 | ||||||||||||||
Owner’sequityAttributabletotheParentCompany | Minorshareholders’equity | Totalofowners’equity | |||||||||||||
ShareCapital | OtherEquityinstrument | Capitalreserves | Less:Sharesinstock | OtherComprehensiveIncome | Specializedreserve | Surplusreserves | Commonriskprovision | Retainedprofit | Other | Subtotal | |||||
Preferredstock | Sustainabledebt | Other | |||||||||||||
I.Balanceattheendoflastyear | 2,090,806,126.00 | 645,969,210.48 | 302,895,877.65 | 1,167,785,965.63 | 3,725,679,319.35 | 7,933,136,499.11 | 2,299,180,085.17 | 10,232,316,584.28 | |||||||
Add:Changeofaccountingpolicy | -433,859.42 | -433,859.42 | -433,859.42 | ||||||||||||
Correctingofpreviouserrors | |||||||||||||||
Mergerofentitiesundercommoncontrol | |||||||||||||||
Other | |||||||||||||||
II.Balanceatthebeginningofcurrentyear | 2,090,806,126.00 | 645,969,210.48 | 302,895,877.65 | 1,167,785,965.63 | 3,725,245,459.93 | 7,932,702,639.69 | 2,299,180,085.17 | 10,231,882,724.86 | |||||||
III.Changedinthecurrentyear | 46,064,922.25 | -35,057,445.36 | 240,435,767.97 | 251,443,244.86 | -18,562,720.69 | 232,880,524.17 | |||||||||
(1)Totalcomprehensiveincome | -35,057,445.36 | 848,860,350.64 | 813,802,905.28 | 351,126,547.11 | 1,164,929,452.39 | ||||||||||
(II)Investmentordecreasingofcapitalbyowners | |||||||||||||||
1.OrdinarySharesinvestedbyshareholders | |||||||||||||||
2.Holdersof |
Items | Thefirsthalfyearof2021 | ||||||||||||||
Owner’sequityAttributabletotheParentCompany | Minorshareholders’equity | Totalofowners’equity | |||||||||||||
ShareCapital | OtherEquityinstrument | Capitalreserves | Less:Sharesinstock | OtherComprehensiveIncome | Specializedreserve | Surplusreserves | Commonriskprovision | Retainedprofit | Other | Subtotal | |||||
Preferredstock | Sustainabledebt | Other | |||||||||||||
otherequityinstrumentsinvestedcapital | |||||||||||||||
3.Amountofsharespaidandaccountedasowners’equity | |||||||||||||||
4.Other | |||||||||||||||
(III)Profitallotment | -608,424,582.67 | -608,424,582.67 | -417,577,776.30 | -1,026,002,358.97 | |||||||||||
1.Providingofsurplusreserves | |||||||||||||||
2.Providingofcommonriskprovisions | |||||||||||||||
3.Allotmenttotheowners(orshareholders) | -608,424,582.67 | -608,424,582.67 | -417,577,776.30 | -1,026,002,358.97 | |||||||||||
4.Other | |||||||||||||||
(IV)Internaltransferringofowners’equity | |||||||||||||||
1.Capitalizingofcapitalreserves(ortocapitalshares) | |||||||||||||||
2.Capitalizingofsurplusreserves(ortocapitalshares) | |||||||||||||||
3.Makinguplossesby |
Items | Thefirsthalfyearof2021 | ||||||||||||||
Owner’sequityAttributabletotheParentCompany | Minorshareholders’equity | Totalofowners’equity | |||||||||||||
ShareCapital | OtherEquityinstrument | Capitalreserves | Less:Sharesinstock | OtherComprehensiveIncome | Specializedreserve | Surplusreserves | Commonriskprovision | Retainedprofit | Other | Subtotal | |||||
Preferredstock | Sustainabledebt | Other | |||||||||||||
surplusreserves. | |||||||||||||||
4.ChangeamountofdefinedbenefitplansthatcarryforwardRetainedearnings | |||||||||||||||
5.Othercomprehensiveincomecarry-overretainedearnings | |||||||||||||||
6.Other | |||||||||||||||
(V).Specialreserves | |||||||||||||||
1.Providedthisyear | |||||||||||||||
2.Usedthisterm | |||||||||||||||
(VI)Other | 46,064,922.25 | 46,064,922.25 | 47,888,508.50 | 93,953,430.75 | |||||||||||
IV.Balanceattheendofthisterm | 2,090,806,126.00 | 692,034,132.73 | 267,838,432.29 | 1,167,785,965.63 | 3,965,681,227.90 | 8,184,145,884.55 | 2,280,617,364.48 | 10,464,763,249.03 |
LegalRepresentative:MiaoDeshanGeneralManager:WangChunhuaPersoninchargeofaccounting:LuMingAccountingDeptLeader:ZhouFang
8.Statementofchangeinowner’sEquityoftheParentCompanyAmountinthisperiod
InRMB
Items | Thefirsthalfyearof2022 | |||||||||||
Sharecapital | OtherEquityinstrument | Capitalreserves | Less:Sharesinstock | OtherComprehensiveIncome | Specializedreserve | Surplusreserves | Retainedprofit | Other | Totalofowners’equity | |||
Preferredstock | Sustainabledebt | Other | ||||||||||
I.Balanceattheendoflastyear | 2,090,806,126.00 | 934,851,285.51 | 192,177,466.34 | 1,045,403,063.00 | 4,586,482,016.10 | 8,849,719,956.95 | ||||||
Add:Changeofaccountingpolicy | ||||||||||||
Correctingofpreviouserrors | ||||||||||||
Other | ||||||||||||
II.Balanceatthebeginningofcurrentyear | 2,090,806,126.00 | 934,851,285.51 | 192,177,466.34 | 1,045,403,063.00 | 4,586,482,016.10 | 8,849,719,956.95 | ||||||
III.Changedinthecurrentyear | 88,237.17 | -34,872,070.60 | -207,813,550.01 | -242,597,383.44 | ||||||||
(I)Totalcomprehensiveincome | -34,872,070.60 | 983,945,941.81 | 949,073,871.21 | |||||||||
(II)Investmentordecreasingofcapitalbyowners | ||||||||||||
1.OrdinarySharesinvestedbyshareholders | ||||||||||||
2.Holdersofotherequityinstrumentsinvestedcapital | ||||||||||||
3.Amountofsharespaidandaccountedasowners’equity | ||||||||||||
4.Other |
Items | Thefirsthalfyearof2022 | |||||||||||
Sharecapital | OtherEquityinstrument | Capitalreserves | Less:Sharesinstock | OtherComprehensiveIncome | Specializedreserve | Surplusreserves | Retainedprofit | Other | Totalofowners’equity | |||
Preferredstock | Sustainabledebt | Other | ||||||||||
(III)Profitallotment | -1,191,759,491.82 | -1,191,759,491.82 | ||||||||||
1.Providingofsurplusreserves | ||||||||||||
2.Allotmenttotheowners(orshareholders) | -1,191,759,491.82 | -1,191,759,491.82 | ||||||||||
3.Other | ||||||||||||
(IV)Internaltransferringofowners’equity | ||||||||||||
1.Capitalizingofcapitalreserves(ortocapitalshares) | ||||||||||||
2.Capitalizingofsurplusreserves(ortocapitalshares) | ||||||||||||
3.Makinguplossesbysurplusreserves. | ||||||||||||
4.ChangeamountofdefinedbenefitplansthatcarryforwardRetainedearnings | ||||||||||||
5.Othercomprehensiveincomecarry-overretainedearnings | ||||||||||||
6.Other | ||||||||||||
(V)Specialreserves | ||||||||||||
1.Providedthisyear | ||||||||||||
2.Usedthisterm | ||||||||||||
(VI)Other | 88,237.17 | 88,237.17 | ||||||||||
IV.Balanceattheendofthisterm | 2,090,806,126.00 | 934,939,522.68 | 157,305,395.74 | 1,045,403,063.00 | 4,378,668,466.09 | 8,607,122,573.51 |
LegalRepresentative:MiaoDeshanGeneralManager:WangChunhuaPersoninchargeofaccounting:LuMingAccountingDeptLeader:ZhouFang
Amountinlastyear
InRMB
Items | Thefirsthalfyearof2021 | |||||||||||
ShareCapital | OtherEquityinstrument | Capitalreserves | Less:Sharesinstock | OtherComprehensiveIncome | Specializedreserve | Surplusreserves | Retainedprofit | Other | Totalofowners’equity | |||
Preferredstock | Sustainabledebt | Other | ||||||||||
I.Balanceattheendoflastyear | 2,090,806,126.00 | 938,969,546.79 | 302,895,877.65 | 987,813,698.07 | 3,667,543,163.36 | 7,988,028,411.87 | ||||||
Add:Changeofaccountingpolicy | -433,859.42 | -433,859.42 | ||||||||||
Correctingofpreviouserrors | ||||||||||||
Other | ||||||||||||
II.Balanceatthebeginningofcurrentyear | 2,090,806,126.00 | 938,969,546.79 | 302,895,877.65 | 987,813,698.07 | 3,667,109,303.94 | 7,987,594,552.45 | ||||||
III.Changedinthecurrentyear | -3,778,219.25 | -35,057,445.36 | 339,473,446.49 | 300,637,781.88 | ||||||||
(I)Totalcomprehensiveincome | -35,057,445.36 | 947,898,029.16 | 912,840,583.80 | |||||||||
(II)Investmentordecreasingofcapitalbyowners | ||||||||||||
1.OrdinarySharesinvestedbyshareholders | ||||||||||||
2.Holdersofotherequityinstrumentsinvestedcapital | ||||||||||||
3.Amountofsharespaidandaccountedasowners’equity | ||||||||||||
4.Other | ||||||||||||
(III)Profitallotment | -608,424,582.67 | -608,424,582.67 | ||||||||||
1.Providingofsurplusreserves | ||||||||||||
2.Allotmenttotheowners(orshareholders) | -608,424,582.67 | -608,424,582.67 | ||||||||||
3.Other | ||||||||||||
(IV)Internaltransferringofowners’equity | ||||||||||||
1.Capitalizingofcapitalreserves(ortocapitalshares) | ||||||||||||
2.Capitalizingofsurplusreserves(ortocapitalshares) |
Items | Thefirsthalfyearof2021 | |||||||||||
ShareCapital | OtherEquityinstrument | Capitalreserves | Less:Sharesinstock | OtherComprehensiveIncome | Specializedreserve | Surplusreserves | Retainedprofit | Other | Totalofowners’equity | |||
Preferredstock | Sustainabledebt | Other | ||||||||||
3.Makinguplossesbysurplusreserves. | ||||||||||||
4.ChangeamountofdefinedbenefitplansthatcarryforwardRetainedearnings | ||||||||||||
5.Othercomprehensiveincomecarry-overretainedearnings | ||||||||||||
6.Other | ||||||||||||
(V)Specialreserves | ||||||||||||
1.Providedthisyear | ||||||||||||
2.Usedthisterm | ||||||||||||
(VI)Other | -3,778,219.25 | -3,778,219.25 | ||||||||||
IV.Balanceattheendofthisterm | 2,090,806,126.00 | 935,191,327.54 | 267,838,432.29 | 987,813,698.07 | 4,006,582,750.43 | 8,288,232,334.33 |
LegalRepresentative:MiaoDeshanGeneralManager:WangChunhuaPersoninchargeofaccounting:LuMingAccountingDeptLeader:ZhouFang
III.CompanyProfile
1.BasicinformationoftheIPOandsharecapitalofthecompany
1.TheCompanywasestablishedinFebruary1993,whichwasoriginallynamedasGuangdongFokaiExpresswayCo.,Ltd.OnJune30,1993,itwasrenamedasGuangdongProvincialExpresswayDevelopmentCo.,Ltd.afterreorganizationpursuanttotheapprovaloftheOfficeofJointExaminationGroupofExperimentalUnitsofShareHoldingSystemwithYLSB(1993)No.68document.Thesharecapitalstructureafterreorganizationisasfollows:
Compositionofstate-ownedshares:Theappraisednetvalueofstate-ownedassetsofGuangdongJiujiangBridgeCo.andGuangfoExpresswayCo.,Ltd.asofJanuary31,1993confirmedbyGuangdongState-ownedAssetManagementDept.,i.e.,RMB418.2136million,wasconvertedinto155.025millionshares.GuangdongExpresswayCo.investedcashofRMB115milliontosubscribefor35.9375millionshares.OtherlegalpersonsinvestedcashofRMB286.992milliontosubscribefor89.685millionshares.StaffoftheCompanyinvestedRMB87.008milliontosubscribefor27.19millionshares.ThetotalisRMB307.8375millionshares.2.PursuanttotheapprovalofGuangdongEconomicSystemReformCommitteeandGuangdongSecuritiesRegulatoryCommissionwithYTG(1996)No.67document,partoftheshareholdersofnon-state-ownedlegalpersonsharestransferred20millionnon-state-ownedlegalpersonsharestoMalaysiaYibaoEngineeringCo.,Ltd.inJune1996.
3.PursuanttotheapprovalofSecuritiesCommissionundertheStateCouncilwithWF(1996)No.24approvaldocumentandthatofGuangdongEconomicSystemReformCommitteewithYTG(1996)No.68document,theCompanyissued135milliondomesticallylistedforeigninvestmentshares(Bshares)tooverseasinvestorsatthepriceofHKD3.54(equivalenttoRMB3.8)withtheparvalueofeachsharebeingRMB1duringJunetoJuly1996.
4.PursuanttothereplyoftheMinistryofForeignTradeandEconomicCooperationofthePeople’sRepublicofChinawith(1996)WJMZYHZNo.606document,theCompanywasapprovedtobeaforeign-investedjointstockcompanylimited.5.TheCompanydistributeddividendsandcapitalizedcapitalcommonreservefortheyear1996inthefollowingmanner:TheCompanypaid1.7bonussharesforeach10sharesandcapitalizedcapitalcommonreserveon3.3-for-10basis.
6.PursuanttotheapprovalofChinaSecuritiesRegulatoryCommittee(CSRC)withZJFZ(1997)No.486andNo.487document,theCompanyissued100millionpublicshares(Ashares)atthepriceofRMB5.41intermof“payableinfullonapplication,pro-rateplacingandsubjecttorefund”withtheparvalueofeachsharebeingRMB1inJanuary1998.7.InaccordancewiththeResolutionsofthe1999Shareholders’GeneralMeetingoftheCompanyandpursuanttotheapprovalofGuangzhouSecuritiesRegulatoryOfficeunderCSRCwithGZZJH(2000)No.99andthatofCSRCwithZJGSZ(2000)No.98,theCompanyoffered3Rightsforevery10sharesof764.256249millionsharesatthepriceofRMB11perRight.73,822,250ordinaryshareswereactuallyplacedtoall.
8.PursuanttothereplyoftheGeneralOfficeofthePeople’sGovernmentofGuangdongProvincewithYBH(2000)No.574document,thestate-ownedsharesweretransferredtoGuangdongCommunicationGroupCo.,Ltd.(GroupCo.)forholdingandmanagementwithoutcompensation.
9.PursuanttotheapprovalofShenzhenStockExchange,53.0205millionstaffsharesoftheCompany(132,722sharesheldbydirectors,supervisorsandseniorexecutivesaretemporarilyfrozen)werelistedonFebruary5,2001.
10.Inaccordancewiththeresolutionsof2000annualshareholders’generalmeeting,theCompanycapitalizedcapitalcommonreserveinto419,039,249shareson5-for-10basiswiththetotalsharecapitalasoftheendof2000,i.e.,838,078,499sharesasbase.ThedateofstockrightregistrationwasMay21,2001.Theex-rightdatewasMay22,2001.11.OnMarch8,2004,AsapprovedbyChinaSecuritiesRegulatoryCommissionbydocumentZheng-Jian-Gong-Si-Zi[2003]No.3,the45,000,000non-negotiableforeignshareswereplacedinShenzhenStock
12.OnDecember21,2005,theCompany'splanforshareholdingstructurereformwasvotedthroughattheshareholders'meetingconcerningAshares.OnJanuary262006,TheMinistryofCommerceofPRCissued“TheapprovalonshareconvertingofGuangdongProvincialExpresswayDevelopmentCo.,Ltd.”toapprovetheshareequityrelocationandtransformation.OnOctober92006,accordingtothe“Circularaboutimplementingofshareequityrelocationandrelativetrading”issuedbyShenzhenStockExchange,theabbreviationIDoftheCompany’sAshareswasrestoredfrom“G-Expressway”“ExpresswayA”.UpontheapprovaldocumentofCSRCNo.230-2016ZhengJianXuke-ApprovaloftheShare-IssuingtoPartiessuchasGuangdongProvincialExpresswayCo.,LtdtoPurchaseAssetsandRaiseMatchingFundsbyGuangdongProvincialExpresswayDevelopmentCo.,Ltd,inJune2016thecompanyissued33,355,263sharesandpaidRMB
803.50milliontoGuangdongProvincialExpresswayCo.,Ltdforpurchasingthe25%stakeofGuangdongProvincialFokaiExpresswayCo.,LtdheldbyGuangdongProvincialExpresswayCo.,Ltd;andissued466,325,020sharestoGuangdongProvincialHighwayConstructionCo.,Ltdforpurchasingthe100%stakeofGuangzhouGuangzhuTrafficInvestmentManagementCo.,LtdheldbyGuangdongProvincialHighwayConstructionCo.,Ltd.OnJune21,2016,thecompanydirectionallyissued334,008,095A-sharestoYadongFuxingYalianInvestmentCo.,Ltd,TibetYinyueInvestmentManagementCo.,LtdandGuangfaSecuritiesCo.,Ltd.TheissuanceofshareshavebeenregisteredonJuly7,2016,thenewshareswillbelistedonJuly8,2016.
1.Company'sregisteredplaceandheadquartersaddressCompanyname:GuangdongProvincialExpresswayDevelopmentCo.,Ltd.RegistrationplaceNo.85,BaiyunRoad,YuexiuDistrict,Guangzhou.
HeadquartersOffice:45-46/F,LitongPlaza,No.32,ZhujiangEastRoad,ZhujiangNewCity,TiheDisrtict,Guangzhou
2.BusinessnatureandmainbusinessactivitiesIndustryandmainproductsofthecompany:highwaymanagementandmaintenance.
Generalbusinessitems:investment,construction,charging,maintenanceandservicemanagementofexpressways,graderoadsandbridges;Automobilerescueservice,maintenanceandcleaning;Parkinglotcharges;Design,production,releaseandagencyofallkindsofadvertisementsathomeandabroad;Landdevelopmentalongthehighway;Warehousingbusiness;Intelligenttransportationtechnologyresearchanddevelopmentandservice;Equityinvestment,managementandconsultation.(Projectsthatmustbeapprovedaccordingtolawcanbeoperatedonlyafterbeingapprovedbyrelevantdepartments).TheCompanyismainlyengagedintollingandmaintenanceofGuangfoExpressway,FokaiExpressway,JingzhuExpresswayGuangzhuSectionandGuanghuiExpresswayinvestmentintechnologicalindustriesandprovisionofrelevantconsultaionwhileinvestinginShenzhenHuiyanExpresswayCo.,Ltd.,GuangzhouGuanghuiExpresswayCo.,Ltd..,GuangdongJiangzhongExpresswayCo.Ltd.,ZhaoqingYuezhaoExpresswayCo.,Ltd.,GanzhouKangdaExpressway,GanzhouGankangExpresswayCo.,Ltd.,GuangdongYuekeTechnology
PettyLoanCo.,Ltd.,GuangdongGuangleExpresswayCo.,Ltd.,GuoyuanSecuritiesCo.,Ltd,HunanLianzhiTechnologyCo.,Ltd.,SPICYuetongQiyuanChipPowerTechnologyCo.,Ltd.andShenzhenGarageElectricPileTechnologyCo.,Ltd.
3.Scopeandchangesofconsolidatedfinancialstatementsinthecurrentperiod
(1)Scopeofcurrentconsolidatedfinancialstatements
TheconsolidatedscopeofthecurrentfinancialstatementsinvovlesGuangdongExpresswayTechnologyInvestmentCo.,Ltd.,YuegaoCapitalHolding(Guangzhou)Co.,Ltd.,itsholdingsubsidiariesGuangfoExpresswayCo.,Ltd.,JingzhuExpresswayGuangzhuSectionCo.,Ltd.andGuanghuiExpresswayCo.,Ltd..
(2)Changesinthescopeofconsolidatedfinancialstatementsinthecurrentperiod
Inthecurrentperiod,the100%equityofGuangdongExpresswayTechnologyInvestmentCo.,Ltd-awholly-ownedsubsidiary-wastransferredtoGuangdongLitongTechnologyInvestmentCo.,Ltd,andtheequitydeliverydatewasMarch29,2022.Therefore,itwillnolongerbeincludedinthescopeoftheconsolidatedfinancialstatementsattheendofthecurrentperiod.
4.ApprovalandsubmissiondateoffinancialreportThefinancialstatementshavebeenauthorizedforissuancebythe32th(Provisional)meetingoftheNinthBoardofDirectorsoftheGrouponAugust26,2022.
(1)Scopeofcurrentconsolidatedfinancialstatements
TheconsolidatedscopeofthecurrentfinancialstatementsinvovlesGuangdongExpresswayTechnologyInvestmentCo.,Ltd.,YuegaoCapitalHolding(Guangzhou)Co.,Ltd.,itsholdingsubsidiariesGuangfoExpresswayCo.,Ltd.,JingzhuExpresswayGuangzhuSectionCo.,Ltd.andGuanghuiExpresswayCo.,Ltd..
(2)Changesinthescopeofconsolidatedfinancialstatementsinthecurrentperiod
Inthecurrentperiod,the100%equityofGuangdongExpresswayTechnologyInvestmentCo.,Ltd-awholly-ownedsubsidiary-wastransferredtoGuangdongLitongTechnologyInvestmentCo.,Ltd,andtheequitydeliverydatewasMarch29,2022.Therefore,itwillnolongerbeincludedinthescopeoftheconsolidatedfinancialstatementsattheendofthecurrentperiod.IV.Basisforthepreparationoffinancialstatements
1.Preparationbasis
ThefinancialstatementsoftheCompanyhavebeenpreparedonbasisofgoingconcerninconformitywithChineseAccountingStandardsforBusinessEnterprisesandtheAccountingSystemsforBusinessEnterprisesissuedbytheMinistryofFinanceofPeople’sRepublicofChina(MinistryofFinanceissuedorderNo.33,theMinistryofFinancerevisedorderNo.76)onFebruary15,2006,andrevisedAccountingStandards(order42oftheMinistryofFinance)andCompilationRulesforInformationDisclosurebyCompaniesOfferingSecuritiestothePublicNo.15–GeneralProvisionsonFinancialReports(2014Revision)issuedbytheChinaSecuritiesRegulatoryCommission(CSRC).
AccordingtotherelevantaccountingregulationsinChineseAccountingStandardsforBusinessEnterprises,theCompanyhasadoptedtheaccrualbasisofaccounting.Held-for-salenon-currentassetsaremeasuredatthelowerofitsbookvalueatitsclassificationdateandfairvalueminusexpecteddisposalcosts.Whereassetsareimpaired,provisionsforassetimpairmentaremadeinaccordancewithrelevantrequirements
2.ContinuationTherewillbenosucheventsorsituationsinthe12monthsfromtheendofthereportingperiodthatwillcausematerialdoubtsastothecontinuationcapabilityoftheCompany.
V.SignificantAccountingPoliciesandAccountingEstimatesSpecificaccountingpoliciesandaccountingestimatesareindicatedasfollows:
None
1.StatementofCompliancewiththeAccountingStandardsforBusinessEnterprises
ThefinancialstatementsoftheCompanyarerecognizedandmeasuredinaccordancewiththeregulationsintheChineseAccountingStandardsforBusinessEnterprisesandtheygiveatrueandfairviewofthefinancialposition,businessresultandcashflowoftheCompany,.Inaddition,thefinancialstatementsoftheCompanycomply,inallmaterialrespects,withthereviseddisclosingrequirementsforfinancialstatementsandtheCompilationRulesforInformationDisclosurebyCompaniesOfferingSecuritiestothePublicNo.15—GeneralProvisionsonFinancialReports(2014Revision)issuedbyChinaSecuritiesRegulatoryCommission(CSRC)in2014.
2.Accountingperiod
TheaccountingperiodoftheCompanyisclassifiedasinterimperiodandannualperiod.Interimperiodreferstothereportingperiodshorterthanacompleteannualperiod.TheaccountingperiodoftheCompanyisthecalendaryearfromJanuary1toDecember31.
3.Operatingcycle
ThenormaloperatingcyclereferstotheperiodfromthetimewhentheGrouppurchasesassetsforprocessingtothetimewhencashorcashequivalentsarerealized.TheCompanytakes12monthsasabusinesscycleandusesitasacriterionforliquidityclassificationofassetsandliabilities.
4.Standardcurrencyforbookkeeping
TheCompanyadoptsCNYtoprepareitsfunctionalstatements.
5.AccountingsforBusinessCombinationsundertheSameControl&BusinessCombinationsnotundertheSameControl
1.BusinessCombinationsundertheSameControl
Ifbusinessparticipatinginthecombinationareultimatelycontrolledbythesamepartyorpartiesbeforeandafterthecombination,andthecontrolisnottemporary,itisanbusinesscombinationunderthesamecontrol.Usually,businesscombinationunderthesamecontrolreferstothecombinationbetweenbusinesswithinthesamebusiness,exceptwhichitisgenerallynotregardedasbusinesscombinationunderthesamecontrol.TheassetsandliabilitiesobtainedbytheCompanyasthecombiningpartyinthebusinesscombinationshallbemeasuredaccordingtothebookvalueofthecombinedpartyintheconsolidatedfinancialstatementsoftheultimatecontrollingpartyonthecombinationdate.Forthelong-termequityinvestmentformedbyholdingcombinationunderthesamecontrol,thecompanytakestheshareofthebookowner'sequityofthecombinedpartyonthecombinationdateastheinitialinvestmentcostforformingthelong-termequityinvestment.Seethelong-termequityinvestmentforrelevantaccountingtreatment;TheassetsandliabilitiesobtainedbyabsorptionandcombinationunderthesamecontrolshallberecordedbytheCompanyaccordingtotheoriginalbookvalueoftherelatedassetsandliabilitiesinthecombinedparty.Thecompanyadjuststhecapitalreserveaccordingtothedifferencebetweenthebookvalueofthenetassetsobtainedandthebookvalueofthecombinationconsiderationpaid(orthetotalparvalueoftheissuedshares);Ifthecapitalreserveisinsufficienttooffset,theretainedearningsshallbeadjusted.
AlldirectlyrelatedexpensesincurredbytheCompanyasacombiningpartyforbusinesscombination,includingauditfees,evaluationfees,legalservicefees,etc.,areincludedinthecurrentprofitsandlosseswhen
incurred.
Feesandcommissionspaidforbondsissuedbyenterprisesorotherdebtsshallbeincludedintheinitialmeasurementamountofbondsandotherdebtsissued.Fees,commissionsandotherexpensesincurredinissuingequitysecuritiesinbusinesscombinationshallbeoffsetagainstthepremiumincomeofequitysecurities,andifthepremiumincomeisinsufficienttooffset,theretainedearningsshallbeoffset.
Iftheholdingunderthesamecontroliscombinedtoformaparent-subsidiaryrelationship,theparentcompanyshallprepareconsolidatedfinancialstatementsontheconsolidationdate,includingconsolidatedbalancesheet,consolidatedincomestatementandconsolidatedcashflowstatement.
Fortheconsolidatedbalancesheet,thebookvalueofthecombinedpartyintheconsolidatedfinancialstatementsoftheultimatecontrollingpartyshallbeincorporatedintotheconsolidatedfinancialstatements,andthetransactionsbetweenthecombiningpartyandthecombinedpartyontheconsolidationdateandthepreviousperiodshallberegardedasinternaltransactionsandoffsetaccordingtotherelevantprinciplesof"ConsolidatedFinancialStatements";Theconsolidatedincomestatementandcashflowstatementincludethenetprofitandcashflowrealizedbythecombiningpartyandthecombinedpartyfromthebeginningofthecurrentconsolidationperiodtotheconsolidationdate,andinvolvethecashflowgeneratedbythetransactionsandinternaltransactionsbetweenthetwopartiesinthecurrentperiod,whichshallbeoffsetaccordingtotherelevantprinciplesoftheconsolidatedfinancialstatements.
2.Ifthepartiesinvolvedinthecombinationarenotultimatelycontrolledbythesamepartyorpartiesbeforeandafterthecombination,itisabusinesscombinationnotunderthesamecontrol.BusinessCombinationsnotundertheSameControl
Determinethecostofbusinesscombination:thecostofbusinesscombinationincludesthefairvalueofcashornon-cashassetspaidbythepurchaserforbusinesscombination,debtsissuedorassumed,andequitysecuritiesissuedonthepurchasedate.
Inthebusinesscombinationnotunderthesamecontrol,theintermediaryexpensessuchasauditing,legalservices,evaluationandconsultationandotherrelatedmanagementexpensesincurredbythepurchaserforthebusinesscombinationshallbeincludedinthecurrentprofitsandlosseswhentheyoccur;Transactioncostsofequitysecuritiesordebtsecuritiesissuedbythepurchaserascombinationconsiderationshallbeincludedintheinitialrecognizedamountofequitysecuritiesordebtsecurities.
Forthelong-termequityinvestmentobtainedbyholdingcombinationnotunderthesamecontrol,thecompanytakesthecombinationcostdeterminedonthepurchasedate(excludingcashdividendsandprofitsthatshouldbecollectedfromtheinvestee)astheinitialinvestmentcostforthelong-termequityinvestmentofthepurchaser;Allidentifiableassetsandliabilitiesobtainedbyabsorptionandcombinationunderdifferentcontrolthatmeettherecognitionconditionsshallberecognizedasassetsandliabilitiesoftheenterpriseatfairvalueonthedateofpurchase.IftheCompanytakesnon-monetaryassetsasconsiderationtoobtainthecontrolrightofthepurchaserorvariousidentifiableassetsandliabilities,thedifferencebetweenthefairvalueoftherelevantnon-monetaryassetsonthepurchasedateandtheirbookvalueshallbetakenasthedisposalprofitandlossoftheassetsandrecordedintheincomestatementofthecurrentconsolidationperiod.
Inabusinesscombinationnotunderthesamecontrol,thedifferencebetweenthecostofbusinesscombinationandthefairvalueshareofidentifiablenetassetsofthepurchaserobtainedinthecombinationisrecognizedasgoodwill;Inthecaseofabsorptionandcombination,thedifferenceisrecognizedasgoodwillintheindividualfinancialstatementsoftheparentcompany;Inthecaseofholdingcombination,thedifferenceislistedasgoodwillintheconsolidatedfinancialstatements.
Thecostofbusinesscombinationislessthanthedifferencebetweenthefairvalueshareofidentifiablenetassetsacquiredduringthecombination,whichisincludedintheprofitsandlosses(non-operatingincome)ofthe
currentcombinationperiodafterreviewbytheCompany.Inthecaseofabsorptionandcombination,thedifferenceisincludedintheindividualincomestatementoftheparentcompanyinthecurrentcombinationperiod;Inthecaseofholdingcombination,thedifferenceisincludedintheconsolidatedincomestatementofthecurrentcombinationperiod.
Ifthebusinesscombinationnotunderthesamecontrolrealizedstepbystepthroughmultipleexchangetransactionsisapackagetransaction,eachtransactionwillbetreatedasatransactiontoobtaincontrolrights;Ifitisnotapackagetransaction,theequityofthepurchasedpartyheldbeforethepurchasedateshallbere-measuredaccordingtothefairvalueoftheequityonthepurchasedate,andthedifferencebetweenthefairvalueanditsbookvalueshallbeincludedinthecurrentinvestmentincome;Iftheequityofthepurchasedpartyheldbeforethepurchasedateinvolvesothercomprehensiveincome,othercomprehensiveincomerelatedtoitshallbeconvertedintotheinvestmentincomeofthecurrentperiodonthepurchasedate,exceptforothercomprehensiveincomearisingfromthere-measurementofnetliabilitiesorchangesinnetassetsofthedefinedbenefitplansbytheinvestedparty.
6.Compilationmethodofconsolidatedfinancialstatements
(1)Consolidationscope
Theconsolidationscopeofconsolidatedfinancialstatementsisdeterminedonthebasisofcontrol.ControlmeansthattheCompanyhasthepowerovertheinvestee,isentitledtovariablereturnsbyparticipatingintherelatedactivitiesoftheinvestee,andhastheabilitytousethepowerovertheinvesteetoinfluenceitsreturnamount.SubsidiariesrefertosubjectscontrolledbytheCompany(includingenterprises,divisiblepartsofinvestee(s),structuredsubjects,etc.).
(2)Compilationmethodofconsolidatedfinancialstatements
TheconsolidatedfinancialstatementsoftheCompanyarebasedonthefinancialstatementsoftheparentcompanyanditssubsidiaries,andarepreparedaccordingtootherrelevantinformation.Whencompiling,theimportantinternaltransactionsbetweentheparentcompanyanditssubsidiaries,suchasinvestment,transactions,purchaseandsaleofinventoriesandtheirunrealizedprofits,areoffsetandcombineditembyitem,andtheminorityshareholders'rightsandinterestsandthecurrentincomeofminorityshareholdersarecalculated.Iftheaccountingpoliciesandaccountingperiodsofsubsidiariesareinconsistentwiththoseoftheparentcompany,theaccountingstatementsofsubsidiariesshallbeadjustedaccordingtotheaccountingpoliciesandaccountingperiodsoftheparentcompanybeforecombination.
(3)Increaseanddecreasetheconsolidatedreportprocessingofsubsidiariesduringthereportingperiod
Duringthereportingperiod,whenpreparingtheconsolidatedbalancesheet,thebalanceatthebeginningoftheconsolidatedbalancesheetisadjustedforthesubsidiariesaddedduetobusinesscombinationunderthesamecontrol.Whenpreparingtheconsolidatedbalancesheet,thebalanceatthebeginningoftheyearoftheconsolidatedbalancesheetisnotadjustedforthesubsidiariesaddedduetobusinesscombinationnotunderthesamecontrol.Duringthereportingperiod,thesubsidiariesaredisposedofandthebalanceatthebeginningoftheconsolidatedbalancesheetisnotadjustedwhentheconsolidatedbalancesheetisprepared.
Duringthereportingperiod,theincome,expensesandprofitsofsubsidiariesaddedbybusinesscombinationunderthesamecontrolfromthebeginningtotheendofthereportingperiodareincludedintheconsolidatedincomestatement,andthecashflowsfromthebeginningtotheendofthereportingperiodareincludedintheconsolidatedcashflowstatement.Forsubsidiariesaddedduetobusinesscombinationnotunderthesamecontrol,theincome,expensesandprofitsofsuchsubsidiariesfromthepurchasedatetotheendofthereportingperiodareincludedintheconsolidatedincomestatement,andtheircashflowfromthepurchasedatetotheendofthereportingperiodisincludedintheconsolidatedcashflowstatement.Duringthereportingperiod,thesubsidiaryisdisposedof,andtheincome,expensesandprofitsfromthebeginningoftheperiodtothedisposaldateare
includedintheconsolidatedincomestatement,andthecashflowfromthebeginningoftheperiodtothedisposaldateisincludedintheconsolidatedcashflowstatement.Whenthecontrolrightoftheoriginalsubsidiaryislostduetothedisposalofpartoftheequityinvestmentorotherreasons,theremainingequityinvestmentafterdisposalshallbere-measuredaccordingtoitsfairvalueonthedateoflossofcontrolright.Thesumoftheconsiderationobtainedfromthedisposalofequityandthefairvalueoftheremainingequity,minusthedifferencebetweentheshareoftheoriginalsubsidiary'snetassetscalculatedcontinuouslyfromthepurchasedateandthesumofgoodwillcalculatedaccordingtotheoriginalshareholdingratio,isincludedintheinvestmentincomeinthecurrentperiodwhenthecontrolrightislost.Othercomprehensiveincomerelatedtotheoriginalsubsidiary'sequityinvestmentisconvertedintocurrentinvestmentincomewhenthecontrolrightislost,exceptforothercomprehensiveincomegeneratedbytheinvestee'sre-measurementofnetliabilitiesorchangesinnetassetsofthesetincomeplan.
Thedifferencebetweenthenewlyacquiredlong-termequityinvestmentduetothepurchaseofminoritysharesandtheidentifiablenetassetsshareofsubsidiariescalculatedaccordingtotheincreasedshareholdingratio,andthedifferencebetweenthedisposalpriceobtainedfrompartialdisposalofequityinvestmentinsubsidiariesandthenetassetsshareofsubsidiariescorrespondingtothedisposaloflong-termequityinvestmentareusedtoadjusttheequitypremiuminthecapitalreserveintheconsolidatedbalancesheet.Iftheequitypremiuminthecapitalreserveisinsufficienttooffset,theretainedearningswillbeadjusted.
(4)Processingofconsolidatedstatementsfromstep-by-stepdisposalofequitytolossofcontrolrights
Ifthetransactionsthatdisposeoftheequityinvestmentinsubsidiariesuntilthelossofcontrolrightsareofapackagetransaction,thetransactionsshallbetreatedastransactionsthatdisposeofsubsidiariesandlosecontrolrights;However,thedifferencebetweenthedisposalpriceandtheshareofthesubsidiary'snetassetsrelatedtothedisposalinvestmentbeforethelossofcontrolrightisrecognizedasothercomprehensiveincomeintheconsolidatedfinancialstatements,whichwillbetransferredtothecurrentprofitandlosswhenthecontrolrightislost,exceptforothercomprehensiveincomearisingfromthere-measurementofthenetliabilitiesorchangesinnetassetsofthesetincomeplanbytheinvestee.Ifitisnotapackagetransaction,beforethelossofcontrol,thedifferencebetweenthedisposalpriceandthecorrespondingnetassetscontinuouslycalculatedbythesubsidiaryfromthepurchasedatewillbeadjustedtothecapitalreserve,andifthecapitalreserveisinsufficienttooffset,theretainedearningswillbeadjusted;Incaseoflossofcontrolright,theaccountingtreatmentshallbecarriedoutaccordingtotheaboveaccountingpolicywhenthecontrolrightovertheoriginalsubsidiaryislost.
7.RecognitionStandardofCash&CashEquivalents
CashandcashequivalentsoftheCompanyincludecashonhand,readyusabledepositsandinvestmentshavingshortholdingterm(normallywillbeduewithinthreemonthsfromthedayofpurchase),withstrongliquidityandeasytobeexchangedintocertainamountofcashthatcanbemeasuredreliablyandhavelowrisksofchange.
8.ForeignCurrencyTransaction
(1)Foreigncurrencybusiness
ForeigncurrencytransactionsoftheCompanyareconvertedintotheamountofbookkeepingbasecurrencyaccordingtothespotrateonthetransactiondate.
Onthebalancesheetdate,foreigncurrencymonetaryitemsandforeigncurrencynon-monetaryitemsshallbetreatedaccordingtothefollowingprovisions:foreigncurrencymonetaryitemsshallbeconvertedatthespotrateonthebalancesheetdate.Exchangedifferencesarisingfromthedifferencebetweenthespotrateonthebalancesheetdateandthespotrateatthetimeofinitialrecognitionorthepreviousbalancesheetdateare
includedinthecurrentprofitsandlosses;Foreigncurrencynon-monetaryitemsmeasuredathistoricalcostarestillconvertedatthespotrateonthetransactiondate,withoutchangingtheirbookkeepingbasecurrencyamount;Foreigncurrencynon-monetaryitemsmeasuredatfairvalueshallbeconvertedatthespotrateonthefairvaluedeterminationdate,andthedifferencebetweentheconvertedbookkeepingbasecurrencyamountandtheoriginalbookkeepingbasecurrencyamountshallbetreatedaschangesinfairvalue(includingexchangeratechanges)andincludedinthecurrentprofitsandlosses;Duringthecapitalizationperiod,theexchangedifferencebetweentheprincipalandinterestofforeigncurrencyspecialloansiscapitalizedandincludedinthecostofassetsthatmeetthecapitalizationconditions.
(2)TranslationofforeigncurrencyfinancialstatementsWhenconvertingforeigncurrencyfinancialstatements,theCompanyshallcomplywiththefollowingregulations:assetsandliabilitiesinthebalancesheetshallbeconvertedatthespotrateonthebalancesheetdate,andotheritemsofowner'sequityexcept"undistributedprofits"shallbeconvertedatthespotrateatthetimeofoccurrence;Theincomeandexpenseitemsintheincomestatementshallbeconvertedatthespotrateonthetransactiondate(orattheexchangeratedeterminedbyasystematicandreasonablemethodandsimilartothespotrateonthetransactiondate).Thetranslationdifferenceofforeigncurrencyfinancialstatementsgeneratedaccordingtotheabovetranslationisrecognizedasothercomprehensiveincome.Theconversionofcomparativefinancialstatementsshallbehandledaccordingtotheaboveprovisions.
9.Financialinstruments
TheCompanyrecognizesthefinancialassetsorliabilitieswheninvolvedinfinancialinstruments’agreements.
(1)Classification,recognitionandmeasurementoffinancialassets
Inaccordancewiththecharacteristicsofbusinessmodelformanagingfinancialassetsandthecontractualcashflowoffinancialassets,theCompanyclassifiesfinancialassetsinto:financialassetsmeasuredinamortizedcost;financialassetsmeasuredatfairvalueandtheir'schangesareincludedinothercomprehensiveincome;financialassetsmeasuredatfairvalueandtheir'schangesareincludedincurrentprofitsandlosses.
Theinitialmeasurementoffinancialassetsiscalculatedbyusingfairvalue.Forfinancialassetsmeasuredatfairvalue,whosechangesareincludedincurrentprofitsandlosses,relevanttransactioncostsaredirectlyincludedincurrentprofitsandlosses;Forothertypesoffinancialassets,relevanttransactioncostsareincludedintheinitialrecognitionamount.
①FinancialassetsmeasuredatamortizedcostThebusinessmodeloftheCompany'smanagementoffinancialassetsmeasuredbyamortizedcostisaimedatcollectingthecontractualcashflow,andthecontractualcashflowcharacteristicsofsuchfinancialassetsareconsistentwiththebasiclendingarrangements,thatis,thecashflowgeneratedonaspecificdateisonlythepaymentofprincipalandinterestbasedontheamountofoutstandingprincipal.Forsuchfinancialassets,theCompanyadoptsthemethodofrealinterestrateandmakessubsequentmeasurementaccordingtothecostofamortization.Theprofitsorlossesresultingfromamortizationorimpairmentareincludedincurrentprofitsandlosses.
②FinancialassetsmeasuredatfairvalueandchangesincludedinothercomprehensiveincomeTheCompany'sbusinessmodelformanagingsuchfinancialassetsistocollectthecontractualcashflow,andthecontractualcashflowcharacteristicsofsuchfinancialassetsareconsistentwiththebasiclendingarrangements.TheCompanymeasuressuchfinancialassetsatfairvalueandtheirchangesareincludedinothercomprehensivegains,butimpairmentlossesorgains,exchangegainsandlossesandinterestincomecalculatedaccordingtotheactualinterestratemethodareincludedincurrentprofitsandlosses.
Inaddition,theCompanydesignatedsomenon-tradingequityinstrumentinvestmentsasfinancialassetsmeasuredatfairvaluewithchangesincludedinothercomprehensiveincome.TheCompanyincludestherelevantdividendincomeofsuchfinancialassetsincurrentprofitsandlosses,andthechangesinfairvalueinothercomprehensivegains.Whenthefinancialassetceasestoberecognized,theaccumulatedgainsorlossespreviouslyincludedinothercomprehensivegainsshallbetransferredintoretainedincomefromothercomprehensiveincome,andnotbeincludedincurrentprofitandloss.
③Financialassetsmeasuredatfairvalueandchangesincludedincurrentprofitsandlosses
TheCompanyincludestheabove-mentionedfinancialassetsmeasuredatamortizedcostandthosemeasuredatfairvalueandtheir'schangesinfinancialassetsotherthanfinancialassetsofcomprehensiveincomeandclassifiesthemasfinancialassetsmeasuredatfairvalueandtheir'schangesthatareincludedincurrentprofitsandlosses.Inaddition,theCompanydesignatessomefinancialassetsasfinancialassetsmeasuredatfairvalueandincludestheirchangesincurrentprofitsandlossesinordertoeliminateorsignificantlyreduceaccountingmismatchesduringinitialrecognition.Inregardwithsuchfinancialassets,theCompanyadoptsfairvalueforsubsequentmeasurement,andincludeschangesinfairvalueintocurrentprofitsandlosses.
(2)Classification,recognitionandmeasurementoffinancialliabilities
TheGroup’sfinancialliabilitiesare,oninitialrecognition,classifiedintofinancialliabilitiesatfairvaluethroughprofitorlossandotherfinancialliabilities.Forfinancialliabilitiesatfairvaluethroughprofitorloss,relevanttransactioncostsareimmediatelyrecognizedinprofitorlossforthecurrentperiod,andtransactioncostsrelatingtootherfinancialliabilitiesareincludedintheinitialrecognitionamounts.
①Financialliabilitiesmeasuredbythefairvalueandthechangesrecordedinprofitorloss
Theclassificationbywhichfinancialliabilitiesheld-for-tradeandfinancialliabilitiesdesignedattheinitialrecognitiontobemeasuredbythefairvaluefollowsthesamecriteriaastheclassificationbywhichfinancialassetsheld-for-tradeandfinancialassetsdesignedattheinitialrecognitiontobemeasuredbythefairvalueandtheirchangesarerecordedinthecurrentprofitorloss
Transactionalfinancialliabilities(includingderivativesbelongingtofinancialliabilities)aresubsequentlymeasuredaccordingtofairvalue.Exceptforhedgingaccounting,changesinfairvalueareincludedincurrentprofitsandlosses.
Financialliabilitiesdesignatedasfinancialliabilitiesthataremeasuredatfairvalueandtheir'schangesareincludedincurrentprofitsandlosses.TheliabilitiesareincludedinothercomprehensivegainsduetochangesinfairvaluecausedbychangesintheCompany'sowncreditrisk,andwhentheliabilitiesareterminated,thechangesinfairvaluecausedbychangesinitsowncreditriskofothercomprehensivegainsareincludedinthecumulativechangesinitsfairvaluecausedbychangesinitsowncreditriskofothercomprehensivegains.Theamountistransferredtoretainedearnings.Theremainingchangesinfairvalueareincludedincurrentprofitsandlosses.Iftheabove-mentionedwayofdealingwiththeimpactofthechangesinthecreditriskofsuchfinancialliabilitieswillresultinorexpandtheaccountingmismatchintheprofitsandlosses,theCompanyshallincludealltheprofitsorlossesofsuchfinancialliabilities(includingtheamountoftheimpactofthechangesinthecreditriskoftheenterpriseitself)intothecurrentprofitsandlosses.
②Otherfinancialliabilities
Inadditiontothetransferofafinancialassetisnotinconformitywiththeconditionstostoptherecognitionorformedbyitscontinuousinvolvementinthetransferredfinancialasset,financialliabilitiesandfinancialguaranteecontractofotherfinancialliabilitiesclassifiedasfinancialliabilitiesmeasuredattheamortizedcost,measuredattheamortizedcostforsubsequentmeasurement,recognitionhasbeenstoppedoramortizationoftheprofitorlossisincludedinthecurrentprofitsandlosses.
(3)Recognitionbasisandmeasurementmethodsfortransferoffinancialassets
Financialassetssatisfyingoneofthefollowingconditionsshallbeterminatedandrecognized:①Thecontractualrighttocollectthecashflowofthefinancialassetisterminated;②Thefinancialassethasbeentransferred,andalmostalltherisksandrewardsintheownershipofthefinancialassethavebeentransferredtothetransferee;③Thefinancialassethasbeentransferred,althoughtheenterpriseneithertransfersnorretainsalmostalltherisksandrewardsintheownershipofthefinancialasset,butitabandonedcontrolofthefinancialassets.
Incasethattheenterprisedoesnottransferorretainalmostallrisksandrewardsonfinancialassetsownershipnorwaivetocontroltheseassets,relevantfinancialassetsshallberecognizedinaccordancewiththedegreeforcontinuedinvolvementoffinancialassetstransferredandrelevantliabilitiesshallberecognizedcorrespondingly.westbankTheterm"continuousinvolvementinthetransferredfinancialasset"shallrefertotherisklevelthattheenterprisefacesresultingfromthechangeofthevalueofthefinancialasset.
Iftheoveralltransferofthefinancialassetssatisfiesthederecognitioncriteria,thedifferencebetweenthebookvalueofthetransferredfinancialassetsandthesumoftheconsiderationreceivedfromtransferandcumulativechangeinfairvaluepreviouslyrecognizedinothercomprehensiveincomeisaccountedintothecurrentprofitorloss.
Incasethatthepartialtransferoffinancialassetsmeetsde-recognitionconditions,thebookvalueoffinancialassetstransferredshallbeallocatedasperrespectivefairvaluebetweende-recognizedornotde-recognizedparts,andthedifferencebetweenthesumoftheconsiderationreceivedduetotransferwiththeaccumulatedamountoffairvaluechangesthatispreviouslyincludedinothercomprehensiveincomeandshallbeallocatedtode-recognizedpartsandtheaforesaidbookamountallocatedshallbeincludedinthecurrentprofitorloss.
TheCompanyshalldeterminewhetheralmostalltherisksandrewardsoftheownershipofthefinancialassetssoldbymeansofrecourseorendorsedtotransferthefinancialassetsitholdshavebeentransferred.Ifalmostalltherisksandrewardsintheownershipofthefinancialassethavebeentransferredtothetransferee,theconfirmationofthefinancialassetshallbeterminated;ifalmostalltherisksandrewardsintheownershipofthefinancialassethavebeenretained,theconfirmationofthefinancialassetshallnotbeterminated;ifneitherthetransfernortheretentionofalmostalltherisksandrewardsintheownershipofthefinancialassethasbeenmade.Incaseofremuneration,itshallcontinuetodeterminewhethertheenterprisehasretainedcontrolovertheassetsandconductaccountingtreatmentinaccordancewiththeprinciplesdescribedintheprecedingparagraphs.
(4)Terminationconfirmationoffinancialliabilities
Ifthecurrentobligationofafinancialliability(orpartthereof)hasbeendischarged,theCompanyshallterminatetherecognitionofthefinancialliability(orpartthereof).IftheCompany(thedebtor)signsanagreementwiththelendertoreplacetheoriginalfinancialliabilitiesbyassumingnewfinancialliabilities,andthecontracttermsofthenewfinancialliabilitiesaresubstantiallydifferentfromthoseoftheoriginalfinancialliabilities,itshallterminatetherecognitionoftheoriginalfinancialliabilitiesandatthesametimeconfirmanewfinancialliabilities.IftheCompanysubstantiallyamendsthecontracttermsoftheoriginalfinancialliabilities(orpartthereof),itshallterminatetheconfirmationoftheoriginalfinancialliabilitiesandatthesametimeconfirmanewfinancialliabilitiesinaccordancewiththerevisedterms.
Ifthefinancialliabilities(orpartthereof)areterminated,thedifferencebetweentheirbookvalueandtheconsiderationpaid(includingthetransferrednon-cashassetsorliabilitiesassumed)shallbeincludedintheprofitsandlossesofthecurrentperiod.
(5)Offsettingfinancialassetsandfinancialliabilities
WhentheCompanyhasalegalrightthatiscurrentlyenforceabletosetofftherecognizedfinancialassetsandfinancialliabilities,andintendseithertosettleonanetbasis,ortorealizethefinancialassetandsettlethe
financialliabilitysimultaneously,afinancialassetandafinancialliabilityshallbeoffsetandthenetamountispresentedinthebalancesheet.Exceptfortheabovecircumstances,financialassetsandfinancialliabilitiesshallbepresentedseparatelyinthebalancesheetandshallnotbeoffset.
(6)MethodfordeterminingthefairvalueoffinancialassetsandfinancialliabilitiesFairvaluereferstothepricethatamarketparticipantmustpaytosellortransferaliabilityinanorderlytransactionthatoccursonthemeasurementdate.ThefairvalueoffinancialinstrumentsexistinginanactivemarketisdeterminedbytheCompanyaccordingtoitsquotedpriceinthismarket.westbankThequotedpricesintheactivemarketrefertotheprices,whichareeasilyavailablefromthestockexchanges,brokers,industryassociations,pricingserviceinstitutionsandetc.atafixedterm,andwhichrepresentthepricesatwhichactuallyoccurredmarkettransactionsaremadeunderfairconditions.?¨Incanafinancialinstrumentdoesnotexistinactivemarkets,itsfairvalueshallbedeterminedbytheCompanywithassessmenttechniques.Thevalueappraisaltechniquesmainlyincludethepricesadoptedbytheparties,whoarefamiliarwiththecondition,inthelatestmarkettransactionupontheirownfreewill,thecurrentfairvalueobtainedbyreferringtootherfinancialinstrumentsofthesameessentialnature,thecashflowcapitalizationmethodandtheoptionpricingmodel,etc.Invaluation,theCompanyadoptsvaluationtechniquesthatareapplicableinthecurrentsituationandsupportedbysufficientdataandotherinformationtoselectinputvaluesconsistentwiththecharacteristicsofassetsorliabilitiesconsideredbymarketparticipantsinthetransactionsofrelatedassetsorliabilities,andgiveprioritytotheuseofrelevantobservableinputvaluesasfaraspossible.Unallowablevaluesareusediftherelevantobservableinputvaluesarenotavailableorarenotpracticable.
(7)EquityinstrumentsAnequityinstrumentisanycontractthatevidencesaresidualinterestintheassetsoftheCompanyafterdeductingallofitsliabilities.Theconsiderationreceivedfromissuingequityinstruments,netoftransactioncosts,areaddedtoshareholders’equity.Alltypesofdistribution(excludingstockdividends)madebytheCompanytoholdersofequityinstrumentsaredeductedfromshareholders’equity.Thedividends(including"interest"generatedbythetoolsclassifiedasequityinstruments)distributedbytheCompany'sequityinstrumentsduringtheperiodoftheirexistenceshallbetreatedasprofitdistribution.
10.ImpairmentoffinancialinstrumentsTheCompanyrequirestoconfirmthatthefinancialassetslostbyimpairmentarefinancialassetsmeasuredbyamortizedcost,investmentindebtinstrumentsandleasereceivableswhicharemeasuredatfairvalueandwhosechangesareincludedinothercomprehensivegains,mainlyincludingnotesreceivable,accountsreceivable,otherreceivables,creditor'srightsinvestment,othercreditor'srightsinvestmentandlong-termreceivablesandetc.Inaddition,provisionforimpairmentandconfirmationofcreditimpairmentlossesarealsomadeforcontractassetsandsomefinancialguaranteecontractsinaccordancewiththeaccountingpoliciesdescribedinthissection.
(1)MethodofconfirmingimpairmentprovisionBasedonanticipatedcreditloss,theCompanycalculatesimpairmentpreparationandconfirmscreditimpairmentlossaccordingtotheapplicableanticipatedcreditlossmeasurementmethod(generalmethodorsimplifiedmethod).Creditlossreferstothedifferencebetweenthecashflowofallcontractsdiscountedaccordingtotheoriginalrealinterestrateandtheexpectedcashflowofallcontractsreceivableaccordingtothecontract,thatis,thepresentvalueofallcashshortages.Amongthem,theCompanydiscountsthefinancialassetspurchasedororiginatedwithcreditimpairmentattheactualinterestrateadjustedbycredit.ThegeneralmethodofmeasuringanticipatedcreditlossiswhetherthecreditriskoftheCompany'sfinancialassets(includingotherapplicableitemssuchascontractassets,similarlyhereinafter)hasincreased
significantlysincetheinitialrecognitiononeachbalancesheetday.Ifthecreditriskhasincreasedsignificantlysincetheinitialrecognition,theCompanyshallmeasurethelosspreparationaccordingtotheamountequivalenttotheexpectedcreditlossinthewholeduration.Ifthecreditriskhasnotincreasedsignificantlysincetheinitialrecognition,theCompanyshallmeasurethelosspreparationaccordingtotheamountequivalenttotheexpectedcreditlossinthenext12months.TheCompanyshallconsiderallreasonableandevidencedinformation,includingforward-lookinginformation,whenevaluatingexpectedcreditlosses.Assumingthattheircreditriskhasnotincreasedsignificantlysincetheinitialrecognition,theCompanymaychoosetomeasurethelossreserveaccordingtotheexpectedcreditlossinthenext12monthsforfinancialinstrumentswithlowcreditriskonthebalancesheetdate.
(2)CriteriaforjudgingwhethercreditriskhasincreasedsignificantlysincetheinitialrecognitionIftheprobabilityofdefaultofafinancialassetontheestimateddurationofthebalancesheetissignificantlyhigherthantheprobabilityofdefaultduringtheestimateddurationoftheinitialrecognition,thecreditriskofthefinancialassetissignificantlyincreased.Exceptforspecialcircumstances,theCompanyusesthechangeofdefaultriskinthenext12monthsasareasonableestimateofthechangeofdefaultriskintheentiredurationtodeterminewhetherthecreditriskhasincreasedsignificantlysincetheinitialrecognition.
(3)Aportfolio-basedapproachtoassessingexpectedcreditriskTheCompanyshallevaluatethecreditriskoffinancialassetswithdistinctdifferencesincreditrisk,suchastherelatedparty'sreceivables,thereceivablesindisputewiththeotherpartyorinvolvinglitigationandarbitration,andreceivablesthathasbeenprovedthatthedebtormaynotbeabletofulfilltheobligationofrepayment,etc.Inadditiontothefinancialassetsthatassesscreditriskindividually,theCompanyshalldividefinancialassetsintodifferentgroupsbasedoncommonriskcharacteristics,andassesscreditriskonthebasisofportfolio.
(4)AccountingtreatmentofimpairmentoffinancialassetsAttheendoftheduration,theCompanyshallcalculatetheanticipatedcreditlossesofvariousfinancialassets.Iftheanticipatedcreditlossesaregreaterthanthebookvalueofitscurrentimpairmentprovision,thedifferenceisdeemedasimpairmentloss.Ifthebalanceislessthanthebookvalueofthecurrentimpairmentprovision,thedifferenceisdeemedasimpairmentprofit.
(5)Methodofdeterminingcreditlossesofvariousfinancialassets
①ReceivableAccountandContractassetsInregardtoreceivableswithoutsignificantfinancingcomponents,theCompanyshallmeasurelosspreparationaccordingtotheamountofanticipatedcreditlossequivalenttotheentireduration.Inregardtoaccountsreceivablewithsignificantfinancingcomponents,theCompanyshallchoosetomeasurelosspreparationaccordingtotheamountequivalenttotheexpectedcreditlosswithinthedurationallthetime.
Inadditiontotheaccountsreceivablethatassessesthecreditriskindividually,receivablesaredividedintodifferentportfoliosbasedontheircreditriskcharacteristics:
Items | Basisfordeterminingcombination: |
Protfolio1:Agingprotfolio | Thisportfolioischaracterizedbytheagingofreceivablesasacreditrisk. |
Portfolio2:QualityGuaranteeportfolio | Thisportfolioisthecontractqualityguaranteefundandotherfunds |
Fortheaboveportfolio1,themeasurementmethodofbaddebtsreserveistheaginganalysismethod,specificallyasfollows:
Aging | Proportion(%) |
Within1year(Including1year) | 0 |
1-2years | 10 |
2-3years | 30 |
3-4years | 50 |
4-5years | 90 |
Over5years | 100 |
Fortheguaranteefundportfolioofportfolio2,noprovisionforbaddebtsshallbemadeunlessthereisobjectiveevidencethatthemoneycannotberecoveredaccordingtotheoriginaltermsofaccountsreceivableandcontractassets.
②OtherreceivableTheCompanyhasmeasuredtheimpairmentlossbasedontheamountofexpectedcreditlossesinthenext12monthsortheentireduration,basedonwhetherthecreditriskofotherreceivableshasincreasedsignificantlysincetheinitialrecognition.Inadditiontotheotheraccountsreceivablewhichassessesthecreditriskindividually,theyaredividedintodifferentportfoliosbasedontheircreditriskcharacteristics:
Items | Basisfordeterminingcombination: |
Protfolio1 | Thisportfolioisacollectionofvariousdeposits,advances,pledgesandotherreceivablesindailyactivities. |
Protfolio2 | Thisportfolioisareservefundborrowedbyemployeesintheirdailybusinessactivities. |
Protfolio3 | Otherreceivablesotherthantheaboveportfolio. |
Combinationofdeposit,qualityassurancefundanddepositandreservefundcombinationexceptforobjectiveevidencethattheGroupwillnotbeabletorecovertheamountaccordingtotheoriginaltermsofreceivables,willnotnormallybeaccruedforbaddebtreserves.Themeasurementmethodofbaddebtreservesforothercombinationsisaginganalysis,andtheaccrualproportionisthesameasaccountsreceivable.
③Creditor'srightsinvestment
Creditor'srightsinvestmentmainlyaccountsforbondinvestmentmeasuredbyamortizedcost,etc.TheCompanyhasmeasuredtheimpairmentlossbasedontheamountofexpectedcreditlossesinthenext12monthsortheentireduration,basedonwhetherthecreditriskhasincreasedsignificantlysincetheinitialrecognition.TheCompanyadoptsthemethodofevaluatingcreditriskwithindividualassetsforcreditor'srightsinvestment.
11.Inventory
1.Investoriesclass:
Thecompany’sstockscanbeclassifiedas:rawmaterials,etc.
2.Valuationmethodofinventoryissued:Thecompanycalculatesthepricesofitsinventoriesaccordingtotheweightedaveragesmethodorthefirst-infirst-outmethod.3Measurementofendinginventory
Onthebalancesheetdate,inventoryshallbemeasuredatthelowerofcostandnetrealizablevalue.Ifthecostofinventoryishigherthanitsnetrealizablevalue,provisionforinventorydepreciationshallbeaccruedandrecordedintothecurrentprofitsandlosses.
Ifthedifferencebetweenthecostcalculatedbyasingleinventoryitemanditsnetrealizablevalueishigher,theinventorydepreciationreserveshallbeaccruedandrecordedintothecurrentprofitsandlosses.Netrealizablevaluereferstotheestimatedsellingpriceofinventoryindailyactivitiesminustheestimatedcoststobeincurreduponcompletion,estimatedsalesexpensesandrelatedtaxesandfees.
4.Physicalinventoriesaremanagedbytheperpetualinventorytakingsystem.
12.ContractassetsandContractliabilities
InthecontractbetweentheCompanyandcustomers,theCompanyhastherighttochargethecontractpriceforthegoodsandrelatedservicesthathavebeentransferredtocustomers,andmeanwhileundertaketheperformanceobligationoftransferringthegoodsorservicestocustomers.Whenthecustomeractuallypaysthe
contractconsiderationortheenterprisehastransferredthegoodsorservicestothecustomerbeforetheconsiderationbecomesdueandpayable,therighttoreceivetheconsiderationduetothetransferredgoodsorservicesshallbelistedascontractassets,andrecognizedasaccountsreceivableorlong-termreceivableswhentheunconditionalrightofcollectionisobtained.`
13.Long-termequityinvestments
(1)InitialmeasurementTheCompanymakesinitialmeasurementoflong-termequityinvestmentinthefollowingtwosituations:
①Theinitialinvestmentcostoflong-termequityinvestmentformedbybusinesscombinationshallbedeterminedinaccordancewiththefollowingprovisions:
A.Inabusinesscombinationunderthesamecontrol,ifthecombiningpartypayscash,transfersnon-cashassetsorassumesdebtsasthecombinationconsideration,theshareofthebookvalueoftheowner'sequityofthemergedpartyintheconsolidatedfinancialstatementsofthefinalcontrollingpartyshallbetakenastheinitialinvestmentcostoflong-termequityinvestmentonthecombinationdate.Thedifferencebetweentheinitialinvestmentcostoflong-termequityinvestmentandthecashpaid,thetransferrednon-cashassetsandthebookvalueofthedebtsundertakenisadoptedtoadjustthecapitalreserve;Ifthecapitalreserveisinsufficienttooffset,theretainedearningsshallbeadjusted.Alldirectlyrelatedexpensesincurredforbusinesscombination,includingauditfees,evaluationfees,legalservicefees,etc.,areincludedinthecurrentprofitsandlosseswhentheyoccur.
B.Inthebusinesscombinationnotunderthesamecontrol,theCompanydeterminesthecombinationcostbydistinguishingthefollowingsituations:
a)Forbusinesscombinationrealizedbyoneexchangetransaction,thecostofcombinationisthefairvalueofassetspaid,liabilitiesincurredorassumedinordertogaincontroloverthepurchasedpartyonthepurchasedate;
b)Forbusinesscombinationrealizedstepbystepthroughmultipleexchangetransactions,thesumofthebookvalueoftheequityinvestmentofthepurchasedpartyheldbeforethepurchasedateandthenewinvestmentcostonthepurchasedateshallbetakenastheinitialinvestmentcostoftheinvestment;
c)Intermediaryexpensessuchasauditing,legalservices,evaluationandconsultation,andotherrelatedmanagementexpensesincurredforbusinesscombinationareincludedinthecurrentprofitsandlosseswhentheyoccur;
d)Iffutureeventsthatmayaffectthecombinationcostareagreedinthecombinationcontractoragreement,ifitisestimatedthatthefutureeventsarelikelytooccuronthepurchasedateandtheamountofimpactonthecombinationcostcanbereliablymeasured,theywillbeincludedinthecombinationcost.
②Exceptforthelong-termequityinvestmentformedbybusinesscombination,theinitialinvestmentcostoflong-termequityinvestmentobtainedbyothermeansshallbedeterminedinaccordancewiththefollowingprovisions:
A.Forthelong-termequityinvestmentobtainedbycashpayment,theactualpurchasepriceshallbetakenastheinitialinvestmentcost.Initialinvestmentcostincludesexpenses,taxesandothernecessaryexpendituresdirectlyrelatedtoobtaininglong-termequityinvestment.
B.Forlong-termequityinvestmentobtainedthroughexchangeofnon-monetaryassets,theinitialinvestmentcostshallbedeterminedaccordingtoAccountingStandardsforBusinessEnterprisesNo.7-ExchangeofNon-monetaryAssets.
C.Forlong-termequityinvestmentobtainedthroughdebtrestructuring,theinitialinvestmentcostshallbedeterminedaccordingtoAccountingStandardsforBusinessEnterprisesNo.12-DebtRestructuring.
③Nomatterhowthelong-termequityinvestmentisobtained,whentheinvestmentisobtained,thecashdividendsorprofitsincludedinthepaidconsiderationthathavebeendeclaredbutnotyetissuedbytheinvesteeareseparatelyaccountedasreceivableitems,whichdoesnotconstitutetheinitialinvestmentcostofobtainingthe
long-termequityinvestment.
(2)SubsequentmeasurementLong-termequityinvestmentthatcanbecontrolledbytheinvesteeshallbeaccountedbythecostmethodinindividualfinancialstatements.Long-termequityinvestmentsthathavejointcontrolorsignificantinfluenceontheinvesteeshallbeaccountedbyequitymethod.
①Long-termequityinvestmentaccountedbycostmethodispricedaccordingtotheinitialinvestmentcost。Adjustthecostoflong-termequityinvestmentbyaddingorrecoveringinvestment.Cashdividendsorprofitsdeclaredanddistributedbytheinvesteeshallberecognizedascurrentinvestmentincome.
Iftheinitialinvestmentcostoflong-termequityinvestmentaccountedbyequitymethodisgreaterthanthefairvalueshareofidentifiablenetassetsoftheinvestee,theinitialinvestmentcostoflong-termequityinvestmentshallnotbeadjusted;Iftheinitialinvestmentcostoflong-termequityinvestmentislessthanthefairvalueshareoftheidentifiablenetassetsoftheinvesteeatthetimeofinvestment,thedifferenceshallbeincludedinthecurrentprofitsandlosses,andthecostoflong-termequityinvestmentshallbeadjustedatthesametime.
Afterobtainingthelong-termequityinvestment,theinvestmentincomeandothercomprehensiveincomeshallberecognizedrespectivelyaccordingtotheshareofthenetprofitandlossandothercomprehensiveincomerealizedbytheinvestedunit,andthebookvalueofthelong-termequityinvestmentshallbeadjustedatthesametime;Accordingtotheprofitorcashdividenddeclaredanddistributedbytheinvestee,thebookvalueoflong-termequityinvestmentshallbereducedaccordingly;Thebookvalueofthelong-termequityinvestmentisadjustedandincludedintheowner'sequityforotherchangesintheowner'sequityoftheinvesteeexceptnetprofitandloss,othercomprehensiveincomeandprofitdistribution.Whenrecognizingtheshareofthenetprofitandlossoftheinvestee,thenetprofitoftheinvesteeisrecognizedafteradjustmentbasedonthefairvalueoftheidentifiablenetassetsoftheinvesteeatthetimeofobtainingtheinvestment.IftheaccountingpoliciesandaccountingperiodsadoptedbytheinvesteeareinconsistentwiththoseoftheCompany,thefinancialstatementsoftheinvesteeshallbeadjustedaccordingtotheaccountingpoliciesandaccountingperiodsoftheCompany,andtheinvestmentincomeandothercomprehensiveincomeshallberecognizedaccordingly.Thenetlossincurredbytheinvesteeisrecognizedtobewrittendowntozerobythebookvalueoflong-termequityinvestmentandotherlong-termintereststhatsubstantiallyconstitutethenetinvestmentoftheinvestee,unlesstheCompanyisobligatedtobearadditionallosses.Iftheinvesteeachievesnetprofitinthefuture,theCompanywillresumetherecognitionoftherevenuesharingamountafteritsrevenuesharingamountcompensatesfortheunrecognizedlosssharingamount.
Whencalculatingandrecognizingthenetprofitandlossthatshouldbeenjoyedorsharedbytheinvestee,theunrealizedinternaltransactionprofitandlosswiththeaffiliatedenterpriseandthejointventureshallbecalculatedaccordingtotheproportionthatshouldbeenjoyed,andthepartattributabletotheCompanyshallbeoffset,andtheinvestmentincomeshallberecognizedonthisbasis.UnrealizedinternaltransactionlossesbetweentheCompanyandtheinvesteeareassetimpairmentlosses,whichshallbefullyrecognized.
Partofthecompany'sequityinvestmentinaffiliatedenterprisesisindirectlyheldthroughventurecapitalinstitutions,mutualfunds,trustcompaniesorsimilarentitiesincludinginvestment-linkedinsurancefunds.Regardlessofwhethertheaboveentitieshaveasignificantimpactonthispartofinvestment,theCompanychoosestomeasurethispartofindirectinvestmentatfairvalueanditschangeisincludedinprofitorlossinaccordancewiththerelevantprovisionsofAccountingStandardsforBusinessEnterprisesNo.22-RecognitionandMeasurementofFinancialInstruments,andtherestisaccountedforbyequitymethod.
②WhentheCompanydisposesoflong-termequityinvestment,thedifferencebetweenitsbookvalueandtheactualpurchasepriceshallbeincludedinthecurrentprofitsandlosses.Forlong-termequityinvestmentaccountedbyequitymethod,whendisposingoftheinvestment,itadoptsthesamebasisastheinvestee'sdirect
disposalofrelatedassetsorliabilities,andaccountsforthepartoriginallyincludedinothercomprehensiveincomeaccordingtothecorrespondingproportion.
(3)BasistodeterminejointcontroloverandsignificantinfluenceontheinvesteeJointcontrolreferstothecommoncontrolofanarrangementinaccordancewiththerelevantagreement,andtherelevantactivitiesofsucharrangementmustbeunanimouslyagreedbytheparticipantswhosharethecontrolrightsbeforemakingdecisions.Significantinfluencemeansthattheinvestorhastherighttoparticipateinthedecision-makingonthefinancialandoperatingpoliciesoftheinvestee,butcannotcontrolorjointlycontroltheformulationofthesepolicieswithotherparties.Whendeterminingwhethertheinvesteecanbecontrolledorexertsignificantinfluence,thepotentialvotingrightsfactorssuchascurrentconvertiblebondsandcurrentexecutablewarrantsoftheinvesteeheldbytheCompanyandotherpartiesshallbeconsideredatthesametime.
14.InvestmentPropertyThemeasurementmodeofinvestmentpropertyThemeasurementbythecostmethodDepreciationoramortizationmethod
Investmentpropertyisheldtoearnrentalsorforcapitalappreciationorforboth.Investmentpropertyincludesleasedorreadytotransferaftercapitalappreciationlanduserightsandleasedbuildings.
(1)Themeasurementmodeofinvestmentproperty
①Depreciationoramortizationmethod
Theestimatedservicelife,netsalvagevaluerateandannualdepreciation(amortization)rateofinvestmentrealestatearelistedasfollows:
Type | Estimatedservicelife(years) | Estimatednetsalvagevaluerate | Annualdepreciation(amortization)rate |
Landuseright | Remainingusefullife | ||
Housesandbuildings | 20-30years | 3%-10% | 3%-4.85% |
②Impairmenttestmethodandaccountingtreatmentmethod
See"30.AssetImpairment"fordetailsofimpairmenttestmethodsandimpairmentprovisionaccrualmethodsofinvestmentrealestate.
(2)Conversionofinvestmentrealestate
TheCompanyhasconclusiveevidencethattheuseofrealestatehaschanged.Whenconvertinginvestmentrealestateintoself-userealestateorinventory,thefairvalueonthedayofconversionistakenasthebookvalueofself-userealestate,andthedifferencebetweenfairvalueandoriginalbookvalueisincludedincurrentprofitsandlosses.Whenself-userealestateorinventoryisconvertedintoinvestmentrealestatemeasuredbyfairvaluemodel,theinvestmentrealestateispricedaccordingtothefairvalueontheconversionday.Ifthefairvalueontheconversiondayislessthantheoriginalbookvalue,thedifferenceisincludedinthecurrentprofitsandlosses;Ifthefairvalueontheconversiondateisgreaterthantheoriginalbookvalue,thedifferenceshallbeincludedinothercomprehensiveincome.
15.Fixedassets
(1)Confirmationconditions
TheCompany'sfixedassetsrefertotangibleassetsheldfortheproductionofcommodities,provisionoflaborservices,leasingoroperationmanagement,whichhaveaservicelifeofmorethanoneyear,andwhoseeconomicbenefitsarelikelytobeincludedintotheCompanyandwhosecostscanbereliablymeasured.
(2)Depreciationmethod
Type | Depreciation | Expecteduseful | Residual | Annualdepreciation |
method | life(Year) | rate(%) | rate(%) | |
GuangfoExpressway | Workingflowbasis | 28years | 0% | |
FokaiExpressway-XiebiantoSanbaoSection | Workingflowbasis | 40years | 0% | |
FokaiExpressway-SanbaotoShuikouSection | Workingflowbasis | 47.5years | 0% | |
JingzhuExpresswayGuangzhuSection | Workingflowbasis | 30years | 0% | |
GuanghuiExpresswayCo.,Ltd. | Workingflowbasis | 23years | 0% | |
HouseBuilding | Thestraight-linemethod | 20-30years | 3%-5% | 3.17%-4.85% |
MachineEquipment | Thestraight-linemethod | 3-10years | 3%-5% | 9.50%-32.33% |
TransportationEquipment | Thestraight-linemethod | 5-8years | 3%-5% | 11.88%-19.40% |
Other | Thestraight-linemethod | 5years | 3%-5% | 19.00%-19.40% |
①TheCompany'sfixedassetsincluderoadsandbridges,housesandbuildings,machineryandequipment,electronicequipment,transportationtoolsandotherequipment.
②Forthefixedassetsformedbyspecialreserveexpenditure,thespecialreserveshallbeoffsetaccordingtothecosttoformthefixedassets,andtheaccumulateddepreciationofthesameamountshallberecognized.Thefixedassetswillnotbedepreciatedinfutureperiods.
Accordingtothenatureandusageoffixedassets,theCompanydeterminestheservicelifeandestimatednetsalvagevalueoffixedassets.Attheendoftheyear,theservicelife,estimatednetsalvagevalueanddepreciationmethodoffixedassetsshallberechecked,andifthereisanydifferencewiththeoriginalestimate,correspondingadjustmentsshallbemade.
16.Construction-inprocess
TheconstructioninprogressoftheCompanyreferstotheplant,equipmentandotherfixedassetsunderconstruction,whichareaccountedforindetailaccordingtotheprojectandrecordedaccordingtotheactualcost,includingdirectconstructionandinstallationcostsandborrowingcoststhatmeetthecapitalizationconditions.Whentheconstructioninprogressreachesthescheduledusablestate,itwillbecarriedovertofixedassetsbytemporaryestimation,stopinterestcapitalization,andstarttoaccruedepreciationaccordingtothedetermineddepreciationmethodoffixedassets.Aftertheprojectiscompletedandfinalaccountsaremade,theoriginalestimatedamountwillbeadjustedaccordingtotheamountoffinalaccounts,buttheoriginalaccrueddepreciationamountwillnotbeadjusted.
17.Borrowingcost
(1)Recognitionprincipleandcapitalizationperiodofborrowingcostcapitalization
BorrowingcostsincurredbytheCompanycanbedirectlyattributedtothepurchase,constructionorproductionofassetsthatmeetthecapitalizationconditions,andshallbecapitalizedwhenthefollowingconditionsaremetatthesametimeandincludedintherelevantassetcosts:
①Productionandexpenditurehaveoccurred;
②Borrowingcostshavealreadyoccurred;
③Thepurchase,constructionorproductionactivitiesrequiredtomaketheassetsreachtheintendedusableorsaleablestatehavestarted.
Capitalizationofborrowingcostsshallbesuspendediftheassetsthatmeetthecapitalizationconditionsareabnormallyinterruptedintheprocessofpurchase,constructionorproduction,andtheinterruptiontimecontinuouslyexceeds3months.Borrowingcostsincurredduringtheinterruptionperiodarerecognizedas
expensesandincludedinthecurrentprofitsandlossesuntilthepurchaseandconstructionofassetsortheresumptionofproductionactivities.Iftheinterruptionisanecessaryprocedureforthepurchased,builtorproducedassetsthatmeetthecapitalizationconditionstoreachtheintendedusableorsaleablestate,thecapitalizationofborrowingcostswillcontinue.Capitalizationofborrowingcostsshallbestoppedwhenassetseligibleforcapitalizationarepurchased,builtorproducedtotheintendedusableorsaleablestate.Borrowingcostsincurredinthefuturearerecognizedasexpensesinthecurrentperiod.
(2)CalculationmethodofcapitalizationamountofborrowingcostsWhereaspecialloanisborrowedforthepurposeofpurchasing,buildingorproducingassetsthatmeetthecapitalizationconditions,itshallbedeterminedbydeductingtheinterestincomeobtainedbydepositingunusedloanfundsintothebankfromtheinterestexpensesactuallyincurredinthecurrentperiodofspecialloanorbytheinvestmentincomeobtainedbytemporaryinvestment.Ifthegeneralloanisoccupiedforthepurposeofpurchasing,buildingorproducingassetsthatmeetthecapitalizationconditions,theinterestamountofthegeneralloanthatshouldbecapitalizedshallbecalculatedanddeterminedaccordingtotheweightedaverageoftheaccumulatedassetexpenditureexceedingthespecialloanportionmultipliedbythecapitalizationrateoftheoccupiedgeneralloan.Capitalizationrateiscalculatedanddeterminedaccordingtotheweightedaverageinterestrateofgeneralborrowings.
18.Intangibleassets
(1)Pricingmethod,usefullifeandimpairmenttestTheCompanyrecognizestheidentifiablenon-monetaryassetsownedorcontrolledbytheenterpriseasintangibleassets,whichhavenophysicalform,andtheestimatedfutureeconomicbenefitsrelatedtotheassetsarelikelytoflowintotheenterpriseandthecostoftheassetscanbereliablymeasured.TheintangibleassetsoftheCompanyarerecordedaccordingtotheamountactuallypaidorthedeterminedvalue.
(2)Ifthepurchasepriceofintangibleassetsexceedsthenormalcreditconditions,whichisoffinancingnatureinessence,thecostofintangibleassetsisdeterminedbasedonthepresentvalueofthepurchaseprice.Thedifferencebetweentheactualpaidpriceandthepresentvalueofthepurchasepriceshallbeincludedinthecurrentprofitsandlosseswithinthecreditperiod,exceptthatitshouldbecapitalizedaccordingtotheregulations.
(3)Theintangibleassetsinvestedbyinvestorsshallbetakenasthecostaccordingtothevalueagreedintheinvestmentcontractoragreement,unlessthevalueagreedinthecontractoragreementisunfair.
(4)TheexpenditureofinternalresearchanddevelopmentprojectsoftheCompanyisdividedintoresearchstageexpenditureanddevelopmentstageexpenditure.Researchreferstoanoriginalandplannedinvestigationtoacquireandunderstandnewscientificortechnicalknowledge.Developmentreferstotheapplicationofresearchresultsorotherknowledgetoaplanordesigntoproduceneworsubstantiallyimprovedmaterials,devicesandproductsbeforecommercialproductionoruse.
Expendituresduringtheresearchphaseofinternalresearchanddevelopmentprojectsareincludedinthecurrentprofitsandlosseswhentheyoccur.Expendituresinthedevelopmentstageofinternalresearchanddevelopmentprojectsthatmeetthefollowingconditionsarerecognizedasintangibleassets:itistechnicallyfeasibletocompletetheintangibleassetssothattheycanbeusedorsold;Havetheintentiontocompletetheintangibleassetsanduseorsellthem;Thewaysinwhichintangibleassetsgenerateeconomicbenefits,includingthosethatcanprovethatthereisamarketforproductsproducedbyusingtheintangibleassetsorthattheintangibleassetsthemselvesexistinthemarket,andthattheintangibleassetswillbeusedinternally,shouldprovetheirusefulness;Havesufficienttechnical,financialandotherresourcestocompletethedevelopmentofthe
intangibleassetsandhavetheabilitytouseorselltheintangibleassets;Expendituresattributabletothedevelopmentstageoftheintangibleassetscanbemeasuredreliably.IntangibleassetswithlimitedservicelifeoftheCompanyshallbeamortizedonaveragewithintheservicelifesincetheintangibleassetsareavailableforuse.Intangibleassetswithuncertainservicelifearenotamortized.Theamortizationamountofintangibleassetsistheamountafterdeductingtheestimatedsalvagevaluefromitscost.Forintangibleassetsforwhichimpairmentprovisionhasbeenmade,theaccumulatedamountofimpairmentprovisionforintangibleassetshastobededucted.
Theamortizationperiodofintangibleassetswithlimitedservicelifeisasfollows:
Type | Amortizationperiod |
Landuseright | Remainingusefullife |
Software | 3-5years |
Tollroadfranchises | Operatingperiodforresidualcharges |
19.Long-termamortizableexpenses
Long-termdeferredexpensesarerecordedaccordingtotheactualamountincurred,andareamortizedequallyininstallmentsduringthebenefitperiodorwithintheprescribedperiod.Ifthelong-termprepaidexpenseitemcannotbenefitthefutureaccountingperiod,theamortizedvalueoftheitemthathasnotbeenamortizedwillbetransferredtothecurrentprofitsandlosses.
20.EmployeeBenefitsEmployeecompensationreferstovariousformsofremunerationorcompensationgivenbytheCompanyforobtainingservicesprovidedbyemployeesordissolvinglaborrelations.Employeecompensationincludesshort-termsalary,post-employmentbenefits,dismissalbenefitsandotherlong-termemployeebenefits.BenefitsprovidedbytheCompanytospouses,children,dependents,survivorsofdeceasedemployeesandotherbeneficiariesofemployeesarealsoemployeecompensation.
(1)Accountingmethodsofshort-termbenefitsDuringtheaccountingperiodwhenemployeesprovideservices,theCompanyrecognizestheactualshort-termsalaryasaliability,whichisincludedinthecurrentprofitsandlosses,exceptthatotheraccountingstandardsrequireorallowittobeincludedinthecostofassets.
(2)Accountingmethodsforpost-employmentbenefits
TheCompanyclassifiesthepost-employmentbenefitplanintodefinedcontributionplananddefinedbenefitplans.Post-employmentbenefitplanreferstotheagreementreachedbetweentheCompanyandemployeesonpost-employmentbenefits,ortherulesormeasuresformulatedbytheCompanytoprovidepost-employmentbenefitstoemployees,amongwhichthesetdepositplanreferstothepost-employmentwelfareplaninwhichtheCompanynolongerundertakesfurtherpaymentobligationsafterpayingafixedfeetoanindependentfund;Definedbenefitplansreferstothepost-employmentbenefitplanexcepttheset-updepositplan.
(3)AccountingTreatmentMethodofDemissionWelfare
IftheCompanyprovidesdismissalbenefitstoemployees,theemployeecompensationliabilitiesarisingfromthedismissalbenefitsshallberecognizedassoonaspossibleandincludedinthecurrentprofitsandlosses:whenthecompanycannotunnaturallywithdrawthedismissalbenefitsprovidedbytheterminationoflaborrelationsplanorreductionproposal;whentheCompanyrecognizesthecostsorexpensesrelatedtothereorganizationinvolvingthepaymentofdismissalbenefits.
(4)Otherlong-termemployeebenefits
Ifotherlong-termemployeebenefitsprovidedbytheCompanytoemployeesmeettheconditionsofthesetdepositplan,theyshallbehandledaccordingtotheaccountingpoliciesofthesetdepositplanmentionedabove;
Otherwise,thenetliabilitiesornetassetsofotherlong-termemployeebenefitsshallberecognizedandmeasuredinaccordancewiththeaccountingpoliciesofdefinedbenefitplansmentionedabove.
21.Estimatedliabilities
(1)RecognitioncriteriaofestimatedliabilitiesIftheobligationsrelatedtocontingenciesstipulatedbytheCompanymeetthefollowingconditionsatthesametime,theyarerecognizedasestimatedliabilities:
①Theobligationsarethecurrentobligationsundertakenbytheenterprise;
②Fulfillingtheobligationsislikelytocauseeconomicbenefitstoflowoutoftheenterprise;
③Theamountoftheobligationscanbemeasuredreliably.
(2)MeasurementmethodofestimatedliabilitiesEstimatedliabilitiesareinitiallymeasuredaccordingtothebestestimateofexpenditurerequiredtofulfillrelevantcurrentobligations.Thereisacontinuousrangeofrequiredexpenditure,andthepossibilityofoccurrenceofvariousresultsinthisrangeisthesame,andthebestestimateisdeterminedaccordingtotheintermediatevalueinthisrange.Inothercases,thebestestimatesaretreatedasfollows:
①Contingenciesinvolvingasingleitemshallbedeterminedaccordingtothemostprobableamount.
②Contingenciesinvolvingmultipleitemsshallbecalculatedanddeterminedaccordingtovariouspossibleresultsandrelevantprobabilities.
Whendeterminingthebestestimate,therisk,uncertaintyandtimevalueofmoneyrelatedtocontingenciesshallbeconsideredcomprehensively.Ifthetimevalueofmoneyhasgreatinfluence,thebestestimateisdeterminedbydiscountingtherelatedfuturecashoutflow.
IfallorpartoftheexpensesrequiredbytheCompanytopayofftheestimatedliabilitiesareexpectedtobecompensatedbyathirdparty,thecompensationamountcanberecognizedasanassetonlywhenitisbasicallyconfirmedthatitcanbereceived.Therecognizedcompensationamountshallnotexceedthebookvalueoftheestimatedliabilities.
TheCompanyrechecksthebookvalueoftheestimatedliabilitiesonthebalancesheetdate.Ifthereisconclusiveevidencethatthebookvaluecannottrulyreflectthecurrentbestestimate,thebookvalueshallbeadjustedaccordingtothecurrentbestestimate.
22.RevenuesAccountingpoliciesadoptedforincomerecognitionandmeasurement
(1)Revenuerecognitionprinciple
Sincethestartingdateofthecontract,thecompanyshallevaluatethecontract,identifieseachindividualperformanceobligationcontainedin,anddetermineswhethereachindividualperformanceobligationisperformedwithinacertainperiodoftimeoratacertainpointoftime.
Theperformanceobligationisdefinedasfulfillmentwithinacertainperiodoftimeifoneofthefollowingconditionsismet,otherwise,itisdefinedasfulfilledatacertainpointintime:①Thecustomerobtainsandconsumestheeconomicbenefitsbroughtbythecompany'sperformancewhilethecompanyperformsthecontract;
②Thecustomercancontrolthegoodsundermanufacturingorservicesduringthecompany'sperformance;③Thegoodsorservicesproducedduringthecompany'sperformancehaveirreplaceableuses,andthecompanyhastherighttoaccumulateforthecompletedperformancesduringtheentirecontractperiod.
Forobligationsperformedwithinacertainperiodoftime,thecompanyrecognizesrevenueinaccordancewiththeperformanceprogressinthatperiod.Iftheperformanceprogresscannotbereasonablydetermined,and
thecostincurredisexpectedtobecompensated,therevenueshallberecognizedaccordingtotheamountofthecostincurreduntiltheperformanceprogresscanbereasonablydetermined.Forobligationsperformedatacertainpointintime,revenueshallberecognizedatthepointwhenthecustomerobtainscontroloftherelevantgoodsorservices.Whenjudgingwhetherthecustomerhasobtainedcontroloftheproduct,thecompanyshallconsiderthefollowingpoints:①Thecompanyhasthecurrentrighttoreceivepaymentfortheproduct,thatis,thecustomerhasthecurrentpaymentobligationfortheproduct;②Thecompanyhastransferredthelegalownershipoftheproducttothecustomer,thatis,thecustomerhasthelegalownershipoftheproduct;③Thecompanyhastransferredthephysicalproducttothecustomer,thatis,thecustomerhasphysicallytakenpossessionoftheproduct;④Thecompanyhastransferredthemainrisksandrewardsontheownershipoftheproducttothecustomer,thatis,thecustomerhasobtainedthemainrisksandrewardsontheownershipoftheproduct;⑤Thecustomerhasacceptedtheproduct;⑥Othersignsthatthecustomerhasobtainedcontroloftheproduct.
(2)Principleofrevenuemeasurement
①Thecompanyshallmeasurerevenuebasedonthetransactionpriceallocatedtoeachindividualperformanceobligation.Thetransactionpriceistheamountofconsiderationthatthecompanyexpectstobeentitledtoreceiveduetothetransferofgoodsorservicestocustomers,whiledoesnotincludepaymentsreceivedonbehalfofthirdpartiesandpaymentsexpectedtobereturnedtocustomers.
②Ifthereisvariableconsiderationinthecontract,thecompanyshalldetermineitsbestestimateaccordingtotheexpectedvalueorthemostlikelyamount,butthetransactionpriceincludingthevariableconsiderationshallnotexceedtheaccumulatedamountthat,ifrelevantuncertaintyiseliminated,willmostlikelyhavenosignificantreversal.
③Ifthereisanysignificantfinancingcomponentinthecontract,thecompanyshalldeterminethetransactionpricebasedontheamountpayableincashwhenthecustomerassumescontrolofthegoodsorservices.Thedifferencebetweentransactionpriceandcontractconsiderationshallbeamortizedthrougheffectiveinterestmethodduringthecontractperiod.Onthestartingdateofcontract,ifthecompanyexpectsthatthecustomerwillobtaincontrolofthegoodsorservicesandpaysthepricewithinoneyear,thesignificantfinancingcomponentincontractshallnotbeconsidered.
④Ifthecontractcontainstwoormoreperformanceobligations,thecompanyshall,ondateofthecontract,allocatethetransactionpricetoeachindividualobligationiteminaccordancewiththerelativeproportionoftheseparatesellingpriceofpromisedgoods.
Theadoptionofdifferentbusinessmodelsinsimilarbusinessesleadstodifferencesinaccountingpoliciesforrevenuerecognition
(3)Specificmethodsofrevenuerecognition
①Tollservicefeeincome
Thetollincomeofroadsandbridgesisdeterminedaccordingtotheamountcollectedandreceivablebyvehicleswhenpassingthrough.
②Incomefromprovidinglaborservices
Forservicesstartedandcompletedinthesamefiscalyear,incomeisrecognizedwhentheservicesarecompleted.Ifthebeginningandcompletionoflaborservicesbelongtodifferentfiscalyears,theCompanyshall,onthebalancesheetdate,recognizetherelatedlaborincomebythepercentageofcompletionmethod,providedthattheresultofthelaborservicetransactioncanbereliablyestimated.Whenthefollowingconditionscanbesatisfied,theresultsofthetransactioncanbereliablyestimated:①thetotalincomeandtotalcostoflaborservicescanbereliablymeasured;②theeconomicbenefitsrelatedtothetransactioncanflowintotheenterprise;
③thedegreeofcompletionoflaborservicescanbereliablydetermined.
Forservicesstartedandcompletedinthesamefiscalyear,incomeisrecognizedwhentheservicesare
completed.Ifthebeginningandcompletionoflaborservicesbelongtodifferentfiscalyears,theCompanyshall,onthebalancesheetdate,recognizetherelatedlaborincomebythepercentageofcompletionmethod,providedthattheresultofthelaborservicetransactioncanbereliablyestimated.Whenthefollowingconditionscanbesatisfied,theresultsofthetransactioncanbereliablyestimated:①thetotalincomeandtotalcostoflaborservicescanbereliablymeasured;②theeconomicbenefitsrelatedtothetransactioncanflowintotheenterprise;
Ifthetransactionresultofprovidinglaborservicesonthebalancesheetdatecannotbeestimatedreliably,thefollowingsituationsshallbedealtwithrespectively:
④Ifthelaborcostalreadyincurredisexpectedtobecompensated,theincomefromtheserviceshallberecognizedaccordingtotheamountofthelaborcostalreadyincurred,andthelaborcostshallbecarriedoveratthesameamount.
⑤Iftheincurredlaborcostisnotexpectedtobecompensated,theincurredlaborcostshallbeincludedintheprofitsandlossesofthecurrentperiod,andtheincomefromtheprovisionoflaborserviceshallnotberecognized.
WhenthecontractsoragreementssignedbetweentheCompanyandotherenterprisesincludesellinggoodsandprovidingservices,ifthepartforsellinggoodsandthepartforprovidingservicescanbedistinguishedandmeasuredseparately,thepartforsellinggoodswillbetreatedasgoodssalesandthepartforprovidingserviceswillbetreatedasserviceprovision.Salesofgoodsandservicescannotbedistinguished,oralthoughtheycanbedistinguished,theycannotbemeasuredseparately.Allpartsforthesellinggoodsandprovidingserviceswillbetreatedassalesofgoods.Theadoptionofdifferentbusinessmodelsinsimilarbusinessesleadstodifferencesinaccountingpoliciesforincomerecognition
23.GovernmentGrants
Governmentsubsidiesarerecognizedwhentheymeettheconditionsattachedtogovernmentsubsidiesandcanbereceived.
Governmentsubsidiesformonetaryassetsshallbemeasuredaccordingtotheamountreceivedorreceivable.Governmentsubsidiesfornon-monetaryassetsaremeasuredatfairvalue;Ifthefairvaluecannotbeobtainedreliably,itshallbemeasuredaccordingtothenominalamountof1yuan.
GovernmentsubsidiesrelatedtoassetsrefertogovernmentsubsidiesobtainedbytheCompanyforpurchasingandbuildingorforminglong-termassetsinotherways;Otherwise,asagovernmentsubsidyrelatedtoincome.
Wherethegovernmentdocumentsdonotspecifytheobjectofthesubsidy,andthesubsidycanformlong-termassets,thepartofthegovernmentsubsidycorrespondingtothevalueoftheassetsshallberegardedasthegovernmentsubsidyrelatedtotheassets,andtherestshallberegardedasthegovernmentsubsidyrelatedtotheincome;Whereitisdifficulttobedistinguished,governmentsubsidiesasawholearetreatedasincome-relatedgovernmentsubsidies.
Governmentsubsidiesrelatedtoassetsoffsetthebookvalueofrelatedassets,orarerecognizedasdeferredrevenueandincludedinprofitsandlossesbystagesaccordingtoareasonableandsystematicmethodwithintheservicelifeofrelatedassets.Governmentsubsidiesrelatedtoincome,whichareusedtocompensaterelatedcostsorlossesthathaveoccurred,shallbeincludedincurrentprofitsandlossesoroffsetrelatedcosts;Iftheyareusedtocompensaterelatedcostsorlossesinlaterperiods,theywillbeincludedinthedeferredrevenue,andtheywillbeincludedinthecurrentprofitsandlossesoroffsetrelatedcostsduringtherecognitionperiodofrelatedcostsorlosses.Governmentsubsidiesmeasuredinnominalamountaredirectlyincludedincurrentprofitsandlosses.TheCompanyadoptsaconsistentapproachtothesameorsimilargovernmentsubsidybusiness.
Governmentsubsidiesrelatedtodailyactivities,accordingtotheessenceofeconomicbusiness,areincluded
inotherincomeoroffsetrelatedcosts.Governmentsubsidiesirrelevanttoroutineactivitiesshallbeincludedintothenon-operatingreceiptanddisbursement.
Whentherecognizedgovernmentsubsidyneedstobereturned,ifthebookvalueofrelatedassetsisoffsetduringinitialrecognition,thebookvalueofassetswillbeadjusted;Ifthereisarelevantdeferredrevenuebalance,thebookbalanceoftherelevantdeferredrevenuewillbeoffset,andtheexcesswillbeincludedinthecurrentprofitsandlosses;Inothercases,itisdirectlyincludedinthecurrentprofitsandlosses.
24.Deferredincometaxassetsanddeferredincometaxliabilities
TheCompanyadoptsthebalancesheetliabilitymethodforincometaxaccountingtreatment.
(1)Deferredtaxassets
①Ifthereisadeductibletemporarydifferencebetweenthebookvalueofanassetorliabilityanditstaxbasis,thedeferredincometaxassetsgeneratedbythedeductibletemporarydifferenceshallbecalculatedandconfirmedaccordingtotheapplicabletaxrateduringtheexpectedperiodofrecoveringtheassetorpayingofftheliability.
②Onthebalancesheetdate,ifthereisconclusiveevidencethatsufficienttaxableincomeislikelytobeobtainedinthefutureperiodtooffsetthedeductibletemporarydifference,theunrecognizeddeferredincometaxassetsinthepreviousperiodshallberecognized.
③Onthebalancesheetdate,thebookvalueofdeferredincometaxassetsshallbereviewed.Ifitisunlikelythatenoughtaxableincomewillbeobtainedinthefutureperiodtooffsetthebenefitsofdeferredincometaxassets,thebookvalueofdeferredincometaxassetswillbewrittendown.Whensufficienttaxableincomeislikelytobeobtained,thewritten-downamountwillbereversed.
(2)Deferredincometaxliabilities
Ifthereisataxabletemporarydifferencebetweenthebookvalueofassetsandliabilitiesandtheirtaxbasis,thedeferredincometaxliabilitiesarisingfromthetaxabletemporarydifferenceshallberecognizedaccordingtotheapplicabletaxrateduringtheexpectedperiodofrecoveringtheassetsorpayingofftheliabilities.
25.Lease
(1)Identificationoflease
Onthecommencementdateofthecontract,theCompany,asthelesseeorlessor,evaluateswhetherthecustomersinthecontracthavetherighttoobtainalmostalleconomicbenefitsarisingfromtheuseoftheidentifiedassetsduringtheuseperiod,andhastherighttoleadtheuseoftheidentifiedassetsduringtheuseperiod.Ifonepartytothecontracttransferstherighttocontroltheuseofoneormultipleidentifiedassetswithinacertainperiodoftimeinexchangeforconsideration,theCompanywillconsiderthecontractasleaseorlease-included.
(2)TheCompanyasthelessee
Onthestartdateoftheleaseterm,theCompanyrecognizestheright-to-useassetsandleaseliabilitiesforallleases,exceptforshort-termleasesandlow-valueassetleasesthataresimplified.Theaccountingpolicyoftheright-to-useassetsisshowninNoteV.26.
Leaseliabilitiesareinitiallymeasuredaccordingtotheunpaidleasepaymentamountonthestartdateoftheleasetermandthepresentvaluecalculatedaccordingtotheimpliedinterestrateoftheleaseortheincrementalborrowinginterestrate.Theleasepaymentamountincludes:fixedpaymentamountandsubstantialfixedpaymentamount.Ifthereisleaseincentive,therelatedamountofleaseincentiveshallbededucted;variableleasepaymentsdependingonindexorratio;theexercisepriceoftheoption,providedthatthelesseereasonablydeterminesthattheoptionwillbeexercised;paymentforexercisingtheoptiontoterminatethelease,provided
thattheleaseperiodreflectsthatthelesseewillexercisetheoptiontoterminatethelease;andtheamountexpectedtobepaidaccordingtotheresidualguaranteevalueprovidedbythelessee.Theinterestexpenseoftheleaseliabilityineachperiodoftheleasetermshallbecalculatedsubsequentlyaccordingtothefixedperiodicinterestrate,andincludedinthecurrentprofitandloss.Variableleasepaymentsthatarenotincludedinthemeasurementofleaseliabilitiesareincludedinthecurrentprofitsandlosseswhenactuallyincurred.Short-termleaseShort-termleasereferstotheleasewithaleasetermofnomorethan12monthsonthestartdateoftheleaseterm,exceptfortheleasewithpurchaseoption.TheCompanyincludestheleasepaymentofshort-termleaseintotherelatedassetcostorcurrentprofitandlossaccordingtothestraight-linemethodineachperiodoftheleaseterm.
Low-valueassetleaseLow-valueassetleasereferstotheleaseinwhichthevalueofasingleleasedassetislessthanRMB100,000whenitisbrandnew.
TheCompanyincludestheleasepaymentoflow-valueassetsintotherelatedassetcostorcurrentprofitandlossaccordingtothestraight-linemethodineachperiodoftheleaseterm.Fortheleaseoflow-valueassets,theCompanychoosestoadoptthesimplifiedtreatmentmethodmentionedaboveaccordingtothespecificconditionsofeachlease.
(3)TheCompanyservesasthelessor
TheCompany,whenasthelessor,recognizestheleasesthathavesubstantiallytransferredallrisksandrewardsrelatedtoassetownershipasfinancialleases,andotherleasesexceptfinancialleasesasoperatingleases.
Accountingmethodsforoperatingleases
Fortherentintheoperatinglease,theCompanyrecognizesthecurrentprofitsandlossesaccordingtothestraight-linemethodineachperiodoftheleaseterm.Theinitialdirectexpensesincurredinconnectionwiththeoperatingleaseshallbecapitalized,allocatedonthesamebasisastherentalincomerecognitionduringtheleaseterm,andincludedinthecurrentprofitsandlossesbystages.Thevariableleasepaymentsobtainedrelatedtooperatingleasesthatarenotincludedintheleasereceiptsareincludedinthecurrentprofitsandlosseswhentheyactuallyoccur.
Accountingtreatmentmethodofleasing
Infinancinglease,atthebeginningoftheleaseterm,Japanesecompaniestakethenetinvestmentinleasingastherecordedvalueofthefinancingleasereceivable,andthenetinvestmentinleasingisthesumoftheunsecuredresidualvalueandthepresentvalueoftheleaseproceedsthathavenotyetbeenreceivedonthestartdateoftheleasetermdiscountedaccordingtotheimpliedinterestrateofthelease.Asthelessor,theCompanycalculatesandrecognizestheinterestincomeofeachperiodintheleasetermaccordingtothefixedperiodicinterestrate.ThevariableleasepaymentsobtainedbytheCompanyasthelessorthatarenotincludedinthemeasurementofnetleaseinvestmentarerecordedintothecurrentprofitsandlosseswhentheyactuallyoccur.
ThederecognitionandimpairmentoffinancialleasereceivablesshallbetreatedaccordingtotheprovisionsofAccountingStandardsforBusinessEnterprisesNo.22-RecognitionandMeasurementofFinancialInstrumentsandAccountingStandardsforBusinessEnterprisesNo.23-TransferofFinancialAssets.
26.Therighttouseassets
(1)Conditionsforrecognitionoftheright-to-useassets
TheCompany'sright-to-useassetsreferstotherightoftheCompanyasthelesseetousetheleasedassetsduringtheleaseterm.
Onthestartdateoftheleaseterm,theright-to-useassetsareinitiallymeasuredatcost.Thecostincludes:
Theinitialmeasurementamountofleaseliabilities;ifthereisleaseincentivefortheleasepaymentissuedonorbeforethestartdateoftheleaseterm,theamountrelatedtotheleaseincentiveenjoyedshallbededucted;initialdirectexpensesincurredbytheCompanyasthelessee;theestimatedcoststhattheCompanyasthelesseewillincurfordismantlingandremovingtheleasedassets,restoringtheleasedassets'siteorrestoringtheleasedassetstothestateagreedintheleaseterms.TheCompany,asthelessee,recognizesandmeasuresthedemolitionandrestorationcostsinaccordancewiththeAccountingStandardsforBusinessEnterprisesNo.13-Contingencies.Itmakessubsequentadjustmentstoanyremeasurementofleaseliabilities.
(2)Depreciationmethodofright-to-useassetsTheCompanyadoptsthestraight-linemethodtoaccruedepreciation.IftheCompanyasthelesseecanbereasonablydeterminedthattheownershipoftheleasedassetisacquiredattheexpirationoftheleaseterm,itshallaccruedepreciationwithintheremainingservicelifeoftheleasedasset.Ifitisimpossibletoreasonablydeterminethattheownershipoftheleasedassetcanbeacquiredattheexpirationoftheleaseterm,itshallaccruedepreciationwithintheshorteroftheleasetermandtheremainingservicelifeoftheleasedasset.
(3)See"27.ImpairmentofAssets"in"SectionVImportantAccountingPoliciesandAccountingEstimates"fortheimpairmenttestmethodandtheprovisionmethodforimpairmentofright-to-useassets.
27.Impairmentofassets
Thefollowingsignsindicatethattheassetsmaybeimpaired:
(1)Themarketpriceofassetsfellsharplyinthecurrentperiod,whichwassignificantlyhigherthantheexpecteddeclineduetothepassageoftimeornormaluse.
(2)Theeconomic,technicalorlegalenvironmentinwhichtheCompanyoperatesandthemarketinwhichtheassetsarelocatedhaveundergonemajorchangesinthecurrentperiodorinthenearfuture,whichwillhaveadverseeffectsontheCompany.
(3)Themarketinterestrateorothermarketreturnoninvestmenthasincreasedinthecurrentperiod,whichaffectsthediscountrateusedbyenterprisestocalculatethepresentvalueoftheestimatedfuturecashflowofassets,resultinginasignificantdecreaseintherecoverableamountofassets.
(4)Thereisevidencethattheassetsareoutdatedortheirentitieshavebeendamaged.
(5)Assetshavebeenorwillbeidle,terminatedorplannedtobedisposedofinadvance.
(6)Theevidencereportedbythecompanyshowsthattheeconomicperformanceofassetshasbeenorwillbelowerthanexpected,suchasthenetcashflowcreatedbyassetsortherealizedoperatingprofit(orloss)isfarlowerthantheexpectedamount.
(7)Otherindicationsthatassetsmayhavebeenimpaired.
Onthebalancesheetdate,theCompanyjudgesvariousassetsthatareapplicabletotheAccountingStandardsforBusinessEnterprisesNo.8-ImpairmentofAssets,suchaslong-termequityinvestment,fixedassets,engineeringmaterials,constructioninprogress,intangibleassets(exceptthosewithuncertainservicelife),andconductsimpairmenttestwhentherearesignsofimpairment-estimatingtheirrecoverableamount.Therecoverableamountisdeterminedbythehigherofthenetamountofthefairvalueoftheassetminusthedisposalexpensesandthepresentvalueoftheestimatedfuturecashflowoftheasset.Iftherecoverableamountofanassetislowerthanitsbookvalue,thebookvalueoftheassetshallbewrittendowntotherecoverableamount,andthewritten-downamountshallberecognizedastheassetimpairmentloss,whichshallbeincludedinthecurrentprofitsandlosses,andthecorrespondingassetimpairmentreserveshallbeaccruedatthesametime.
Iftherearesignsthatanassetmaybeimpaired,theCompanyusuallyestimatesitsrecoverableamountonthebasisofindividualassets.Whenitisdifficulttoestimatetherecoverableamountofasingleasset,therecoverableamountoftheassetgroupisdeterminedbasedontheassetgrouptowhichtheassetbelongs.
AssetgroupisthesmallestassetportfoliothatcanberecognizedbytheCompany,anditscashinflowisbasicallyindependentofotherassetsorassetgroups.Theassetgroupconsistsofassetsrelatedtocashinflow.Theidentificationofassetgroupisbasedonwhetherthemaincashinflowgeneratedbyassetgroupisindependentofotherassetsorcashinflowofassetgroup.TheCompanyconductsimpairmenttesteveryyearforintangibleassetswithuncertaingoodwillandservicelifeformedbybusinesscombinationandnotyetinserviceablecondition,regardlessofwhetherthereisanysignofimpairment.Theimpairmenttestofgoodwilliscarriedoutincombinationwithitsrelatedassetgrouporcombinationofassetgroups.Oncetheassetimpairmentlossisconfirmed,itwillnotbereversedinthefollowingaccountingperiod.
28.Fairvaluemeasurement
Fairvaluereferstothepricethatamarketparticipantmustpaytosellortransferaliabilityinanorderlytransactionthatoccursonthemeasurementdate.
TheCompanymeasuresrelatedassetsorliabilitiesatfairvalue,assumingthattheorderlytransactionofsellingassetsortransferringliabilitiesisconductedinthemainmarketofrelatedassetsorliabilities;Ifthereisnomajormarket,theCompanyassumesthatthetransactionwillbeconductedinthemostfavorablemarketofrelatedassetsorliabilities.Themainmarket(orthemostfavorablemarket)isthetradingmarketthattheCompanycanenteronthemeasurementday.TheCompanyadoptstheassumptionsusedbymarketparticipantstomaximizetheireconomicbenefitswhenpricingtheassetsorliabilities.
Whenmeasuringnon-financialassetsatfairvalue,theabilityofmarketparticipantstousetheassetsforthebestpurposetogenerateeconomicbenefitsortheabilitytoselltheassetstoothermarketparticipantsforthebestpurposetogenerateeconomicbenefitsshallbeconsidered.
TheCompanyadoptsthevaluationtechnologywhichisapplicableinthecurrentsituationandsupportedbysufficientavailabledataandotherinformation,andgivesprioritytotherelevantobservableinputvalues,andonlyusestheunobservableinputvalueswhentheobservableinputvaluesareunavailableorimpractical.
Forassetsandliabilitiesmeasuredordisclosedatfairvalueinfinancialstatements,itshalldeterminethefairvaluelevelaccordingtothelowestlevelinputvaluewhichisofgreatsignificancetofairvaluemeasurementasawhole:thefirst-levelinputvalueistheunadjustedquotationofthesameassetsorliabilitiesthatcanbeobtainedonthemeasurementdateinanactivemarket;Thesecond-levelinputvalueisdirectlyorindirectlyobservableinputvaluesofrelatedassetsorliabilitiesexceptthefirst-levelinputvalue;Thethirdlevelinputvalueistheunobservableinputvalueofrelatedassetsorliabilities.
Oneachbalancesheetdate,theCompanyreassessestheassetsandliabilitiesrecognizedinthefinancialstatementsthatarecontinuouslymeasuredatfairvaluetodeterminewhetherthereisaconversionbetweenthefairvaluemeasurementlevels.
29.Changeofmainaccountingpoliciesandestimations
(1)Changeofmainaccountingpolicies
□Applicable√Notapplicable
(2)Significantestimateschanges
□Applicable√Notapplicable
VI.Taxation
1.Majorcategoryoftaxesandtaxrates
Taxcategory | Taxbasis | Taxrate |
VAT | Taxableincome | 3%,5%,6%,9%,13% |
Citymaintenanceandconstructiontax | Theactualpaymentofturnovertax | 5%,7% |
Enterpriseincometax | Taxableincome | 25% |
EducationFeeSurcharge | Theactualpaymentofturnovertax | 3% |
Localeducationsurcharge | Theactualpaymentofturnovertax | 2% |
2.PreferentialtaxNoneVII.Notestothemajoritemsofconsolidatedfinancialstatement
1.MonetaryCapital
InRMB
Items | Amountinyear-end | BalanceYear-beginning |
Cash | 48,820.81 | 38,214.02 |
Bankdeposit | 3,996,364,772.14 | 2,955,850,944.81 |
Including:MoneydepositedwithafinanceCompany | 2,658,370,523.01 | 1,521,003,542.69 |
Other | 47,802,256.12 | 515,231.72 |
Total | 4,044,215,849.07 | 2,956,404,390.55 |
OthernoteAsofJune30,2022,Thebalanceofrestrictedbankdepositsattheendoftheperiodwas1,221,200.00yuan,whichwasthelandreclamationfunddepositedintothefundcustodyaccountforthereconstructionandexpansionprojectofSanbaotoShuikousectionofFokaiExpressway.
2.Accountreceivable
1.Classificationaccountreceivables.
InRMB
Category | Amountinyear-end | BalanceYear-beginning | ||||||||
BookBalance | Baddebtprovision | Bookvalue | BookBalance | Baddebtprovision | Bookvalue | |||||
Amount | Proportion(%) | Amount | Proportion(%) | Amount | Proportion(%) | Amount | Proportion(%) | |||
Accrualofbaddebtprovisionbysingle | 6,259,752.00 | 4.88% | 3,143,664.00 | 50.22% | 3,116,088.00 | 12,268,880.60 | 7.44% | 3,143,664.00 | 25.62% | 9,125,216.60 |
Including: | ||||||||||
Otherreceivablesforbaddebtprovisionaccordingtothecombinationofcreditriskcharacteristics | 122,114,434.84 | 95.12% | 122,114,434.84 | 152,527,300.17 | 92.56% | 2,599,116.90 | 1.70% | 149,928,183.27 | ||
Including: | ||||||||||
Total | 128,374,186.84 | 3,143,664.00 | 125,230,522.84 | 164,796,180.77 | 5,742,780.90 | 159,053,399.87 |
(1)Accrualofbaddebtprovisionbysingle:
InRMB
Name | Balanceinyear-end | |||
Bookbalance | Baddebtprovision | Withdrawalproportion | Reason | |
GuangdongTaihengExpresswayDevelopmentCo.,Ltd. | 6,259,752.00 | 3,143,664.00 | 50.22 | Thereisadispute,inthesecondinstanceoflitigation |
Total | 6,259,752.00 | 3,143,664.00 | / |
Accountsreceivableswithbaddebtprovisionarerecognisedbyportfoliobyage
InRMB
Aging | Balanceinyear-end | ||
Accountreceivable | Baddebtprovision | Expectedcreditlossrate(% | |
Within1year | 122,114,434.84 | ||
Total | 122,114,434.84 |
Wherethecurrentbaddebtsbackorrecoversignificantamounts:NoneDisclosurebyaging
InRMB
Aging | Balanceinyear-end |
Within1year | 123,153,130.84 |
1-2years | 2,077,392.00 |
2-3years | 2,077,392.00 |
3-4years | 1,066,272.00 |
Subtotal | 128,374,186.84 |
Baddebtprovision | 3,143,664.00 |
Total | 125,230,522.84 |
(2)Accountsreceivablewithdraw,reversedorcollectedduringthereportingperiod
TheprovisionforbaddebtsinthecurrentperiodisRMB0.60;andtheamountofbaddebtreserverecoveredorreversedinthecurrentperiodisRMB0.
(3)Thecurrentaccountsreceivablewrite-offssituationNone
(4)Theendingbalanceofotherreceivablesowedbytheimputationofthetopfiveparties
InRMB
Name | Amount | Aging | Proportion(%) | Baddebtprovision |
GuangdongUnionElectronic | 74,737,143.16 | Within1year | 58.22% |
ServicesCo.,Ltd. | ||||
GuangdongHumenBridgeCo.,Ltd. | 20,346,943.38 | Within1year | 15.85% | |
GuangdongLulutongTrafficDevelopmentCo.,Ltd. | 19,458,333.31 | Within1year | 15.16% | |
GuangdongTaihengExpresswayDevelopmentCo.,Ltd. | 1,038,696.00 | Within1year | 0.81% | |
2,077,392.00 | 1-2years | 1.62% | ||
2,077,392.00 | 2-3years | 1.62% | 2,077,392.00 | |
1,066,272.00 | 3-4years | 0.83% | 1,066,272.00 | |
GuangdongJingzhuExpresswayGuangzhuNorthSectionCo.,Ltd. | 5,484,999.99 | Within1year | 4.27% | |
Total | 126,287,171.84 | 98.38% |
(5)Accountreceivablewhichterminatetherecognitionowningtothetransferofthefinancialassets
None
(6)TheamountoftheassetsandliabilitiesformedbythetransferandthecontinuesinvolvementofaccountsreceivableNone
3.Prepayments
(1)Aginganalysis
InRMB
Aging | Balanceinyear-end | BalanceYear-beginning | ||
Amount | Proportion(%) | Amount | Proportion(%) | |
Within1year | 5,581,764.07 | 97.55% | 5,087,647.09 | 97.32% |
1-2years | 140,000.00 | 2.45% | 140,000.00 | 2.68% |
Total | 5,721,764.07 | 5,227,647.09 |
Notesofthereasonsoftheprepaymentagesover1yearwithsignificantamountbutfailedsettledintime:
None
(2)Top5oftheclosingbalanceoftheprepaymentcollectedaccordingtotheprepaymenttarget
InRMB
Name | RelationswiththeCompany | Amount | Aging | Reasonsfornon-settlement | Proportion% |
GuangdongLulutongCo.,Ltd. | Relatedparty | 1,775,852.40 | Within1year | Nosettlementconditionshavebeenreached | 31.04 |
ChinaPingAnPropertyInsuranceCo.Ltd.GuangdongBranch | Non-Relatedparty | 1,695,053.75 | Within1year | Nosettlementconditionshavebeenreached | 29.62 |
GuangzhouAutomobileTradingCo.,Ltd. | Non-Relatedparty | 675,288.00 | Within1year | Nosettlementconditionshavebeenreached | 11.80 |
ChinaInsuranceGuangdongBranch | Non-Relatedparty | 640,454.00 | Within1year | Nosettlementconditionshavebeenreached | 11.19 |
GuangzhouPeakGridPowerEquipmentCo.,Ltd. | Non-Relatedparty | 523,717.92 | Within1year | Nosettlementconditionshavebeenreached | 9.15 |
Total | 5,310,366.07 | 92.80 |
4.Otheraccountsreceivable
InRMB
Items | Balanceinyear-end | BalanceYear-beginning |
Dividendreceivable | 1,205,472.90 | 1,205,472.90 |
Otherreceivable | 12,642,060.80 | 12,555,651.33 |
Total | 13,847,533.70 | 13,761,124.23 |
(1)Interestreceivable:None
(2)Dividendreceivable
1)Dividendreceivable
InRMB
Items | Balanceinyear-end | BalanceYear-beginning |
GuangdongRadioandTelevisionNetworksinvestmentNo.1Limitedpartnershipenterprise | 1,205,472.90 | 1,205,472.90 |
Total | 1,205,472.90 | 1,205,472.90 |
2)Significantdividendreceivableagedover1year
InRMB
Items | Balanceinyear-end | Aging | Reasonsfornon-recovery | Whetherwithimpairmentandthejudgmentbasis |
GuangdongRadioandTelevisionNetworksinvestmentNo.1Limitedpartnershipenterprise | 1,205,472.90 | 3-4years | Thepartnershipagreementexpiresandcanberecoveredaftertheextensionproceduresarecompleted | No,itcanberecoveredinthefuture |
Total | 1,205,472.90 |
3)Thebaddebtprovision
□Applicable√Notapplicable
(3)Otheraccountsreceivable
1)Otheraccountsreceivableclassified
InRMB
Category | Balanceinyear-end | BalanceYear-beginning | ||||||||
Bookbalance | Baddebtprovision | Bookvalue | Bookbalance | Baddebtprovision | Bookvalue | |||||
Amount | Proportion(%) | Amount | Proportion(%) | Amount | Proportion(%) | Amount | Proportion(%) | |||
Otherreceivablesforindividualbaddebtprovision | 30,844,110.43 | 70.93 | 30,844,110.43 | 100.00 | 0.00 | 51,535,736.09 | 80.37 | 51,535,736.09 | 100.00 | 0.00 |
Otherreceivablesforbaddebtprovisionaccordingtothecombinationofcreditriskcharacteristics | 12,642,060.80 | 29.07 | 12,642,060.80 | 12,588,109.31 | 19.63 | 32,457.98 | 0.26 | 12,555,651.33 | ||
Total | 43,486,171.23 | 30,844,110.43 | 12,642,060.80 | 64,123,845.40 | 51,568,194.07 | 12,555,651.33 |
Disclosurebyaging
InRMB
Aging | Balanceinyear-end | ||
Otherreceivable | Baddebtprovision | Expectedcreditlossrate(%) | |
Within1year | 4,932,468.66 | ||
1-2years | 2,761,370.09 | ||
2-3years | 3,465,247.71 | ||
3-4years | 29,980.70 | ||
4-5years | 575,651.76 | ||
Over5years | 31,721,452.31 | 30,844,110.43 | 97.23% |
Total | 43,486,171.23 | 30,844,110.43 |
Accrualofbaddebtprovisionbysingle:
InRMB
BadDebtReserves | Closingbookbalance | |||
Bookbalance | Baddebtprovision | Expectedcreditlossrate(%) | Reason | |
KunlunSecuritiesCo.,Ltd(Note1) | 30,844,110.43 | 30,844,110.43 | 100.00% | Baddebtshavebeenfullywithdrawninbankruptcy |
Total | 30,844,110.43 | 30,844,110.43 | 100.00% |
Disclosurebyaging
InRMB
Aging | Balanceinyear-end | BalanceYear-beginning | ||||
Bookbalance | Baddebtprovision | Bookbalance | Baddebtprovision | |||
Amount | Proportion(%) | Amount | Proportion(%) | |||
Within1year | 3,829,032.21 | 100.00% | 2,959,338.22 | 98.92% | ||
1-2years | ||||||
2-3years | ||||||
3-4years | ||||||
4-5years | ||||||
Over5years | 32,457.98 | 1.08% | 32,457.98 | |||
Total | 3,829,032.21 | 2,991,796.20 | 32,457.98 |
Intheportfolio,otherreceivableswithbaddebtprovisionbyothermethods:
InRMB
Name | Balanceinyear-end | BalanceYear-beginning | ||||
Bookbalance | Baddebtprovision | Expectedcreditlossrate(%) | Bookbalance | Baddebtprovision | Expectedcreditlossrate(%) | |
Depositmoneyandqualityguaranteefundcombination | 7,493,571.63 | 8,815,245.54 | ||||
Other | 1,319,456.96 | 781,067.57 | ||||
Total | 8,813,028.59 | 9,596,313.11 |
2)Thewithdrawalamountofthebaddebtprovision:
InRMB
BadDebtReserves | Stage1 | Stage2 | Stage3 | Total |
Expectedcreditlossesoverthenext12months | Expectedcreditlossoverlife(nocreditimpairment) | Expectedcreditlossesfortheentireduration(creditimpairment |
occurred) | ||||
BalanceasatJanuary1,2022 | 32,457.98 | 51,535,736.09 | 51,568,194.07 | |
BalanceasatJanuary1,2022incurrent | ||||
Otherchange | -32,457.98 | -20,691,625.66 | -20,724,083.64 | |
BalanceasatJune30,2022 | 30,844,110.43 | 30,844,110.43 |
Note1:Theparentcompanyoncepaid33,683,774.79yuanintoKunlunSecuritiesCo.,Ltd,GuangdongExpresswaytechnologyinvestmentCo.,Ltdoncepaid18,000,000.00yuanintoKunlunSecuritiesCo.,Ltd.QinghaiProvinceXiningCity’sintermediatepeople’scourtmadeaadjudicationunderlawdeclaredthatKunlunSecuritiesCo.,LtdwentbankruptandrepaiddebtinNovember11,2006.OnMarch2007,TheCompanyandGuangdongExpresswayTechnologyInvestmentCo.,LtdhadswitchedthemoneythatpaidintoKunlunSecuritiesCo.,Ltdtootheraccountreceivable,andfollowthecarefulprincipletodoubtfuldebtsprovision.AsofJune30,2022,The2,839,664.36yuanCreditwasrecovered,andtheprovisionforhaddeb.3)Accountsreceivablewithdraw,reversedorcollectedduringthereportingperiodThewithdrawalamountofthebaddebtprovision:
TheprovisionforbaddebtsinthecurrentperiodisRMB0.00;andtheamountofbaddebtreserverecoveredorreversedinthecurrentperiodisRMB0.00.4)Theactualwrite-offotheraccountsreceivable:None5)Otherreceivablesareclassifiedaccordingtothenature
InRMB
Nature | Closingbalance | BalanceYear-beginning |
Securitiestradingsettlementfunds | 30,844,110.43 | 47,528,056.18 |
Pettycash | 5,069,923.89 | 4,538,885.93 |
Currentaccount | 4,007,679.91 | |
Deposit | 2,772,847.74 | 3,469,880.18 |
Other | 4,799,289.17 | 4,579,343.20 |
Subtotal | 43,486,171.23 | 64,123,845.40 |
Less:Baddebtprovision | 30,844,110.43 | 51,568,194.07 |
Total | 12,642,060.80 | 12,555,651.33 |
6)Top5oftheclosingbalanceoftheotheraccountsreceivablecollatedaccordingtothearrearsparty
InRMB
Name | Nature | Closingbalance | Aging | Proportionofthetotalyearendbalanceoftheaccountsreceivable(%) | Closingbalanceofbaddebtprovision |
KunlunSecuritiesCo.,Ltd | Securitiestradingsettlementfunds | 30,844,110.43 | Over5years | 69.02% | 30,844,110.43 |
GuangdongLitongRealEstatesInvestmentCo.,Ltd. | Vehicleparkingdeposit | 22,980.00 | 1-2years | 3.70% | |
1,630,467.36 | 2-3years | ||||
ChinaRailwayNo.18BureauGroupCo.,Ltd. | Surrogatepayment | 1,099,991.00 | Within1year | 2.46% | |
ChinaRailwayTunnelGroup | Surrogatepayment | 559,388.80 | Within1year | 1.25% | |
Guangdong | Currentaccount | 463,491.88 | Over5years | 1.04% |
ProvincialFreewayCo.,Ltd. | |||||
Total | 34,620,429.47 | 77.47% | 30,844,110.43 |
7)AccountsreceivableinvolvedwithgovernmentsubsidiesNone8)OtheraccountreceivablewhichterminatetherecognitionowningtothetransferofthefinancialassetsNone9)TheamountoftheassetsandliabilitiesformedbythetransferandthecontinuesinvolvementofotheraccountsreceivableNone
5.InventoriesWhetherthecompanyneedtocomplywiththedisclosurerequirementsoftherealestateindustryNo
(1)CategoryofInventory
InRMB
Items | Closingbookbalance | Openingbookbalance | ||||
Bookbalance | Provisionforinventoryimpairment | Bookvalue | Bookbalance | Provisionforinventoryimpairment | Bookvalue | |
Rawmaterials | 257,831.85 | 257,831.85 | ||||
Stockgoods | 382,247.81 | 382,247.81 | ||||
Total | 640,079.66 | 640,079.66 |
(2)InventorydepreciationreserveNone
(3)DescriptionofTheclosingbalanceofinventoriescontaintheamountofborrowingcostscapitalizedNone
(4)DescriptionofamortizationamountofcontractperformancecostinthecurrentperiodNone
6.Contractassets
(1)Situation
InRMB
Items | Year-endbalance | Year-beginningbalance | ||||
Bookbalance | Baddebtprovision | Bookvalue | Bookbalance | Baddebtprovision | Bookvalue | |
Qualityguarantee | 5,286,462.45 | 5,286,462.45 | ||||
Total | 5,286,462.45 | 5,286,462.45 |
Amountandreasonofmaterialchangeofbookvalueofcontractassetsinthecurrentperiod::NoneTheimpairmentprovisionofthecontractassetsinthecurrentperiod
None
7.Non-currentassetduewithin1year
InRMB
Items | Year-endbalance | Year-beginningbalance |
Pre-paymentofbusinesstaxbeforereplacingbusinesstaxwithVAT | 402,370.32 | 51,745.32 |
7daysnoticeofdepositinterest | 3,010,904.18 | 2,731,229.21 |
Total | 3,413,274.50 | 2,782,974.53 |
8.Othercurrentassets
InRMB
Items | Year-endbalance | Year-beginningbalance |
Inputtaxtobecertified | 62,672.86 | 21,213.96 |
VATretentiontaxcredits | 326,647.68 | |
Contractacquisitioncost | 20,706,348.52 | |
Advancepaymentofenterpriseincometax | 943,590.79 | |
Payothertaxesinadvance | 7,933.63 | |
Total | 22,047,193.48 | 21,213.96 |
9.Long-termequityinvestment
InRMB
Investees | Openingbalance | Increase/decrease | Closingbalance | Closingbalanceofimpairmentprovision | |||||||
Additionalinvestment | Negativeinvestment | Investmentprofitandlossrecognizedundertheequitymethod | Adjustmentofothercomprehensiveincome | Changesofotherequity | Cashbonusorprofitsannouncedtoissue | Withdrawalofimpairmentprovision | Other | ||||
I.Jointventure | |||||||||||
2.AffiliatedCompany | |||||||||||
ZhaoqingYuezhaoHighwayCo.,Ltd. | 315,837,951.35 | 24,596,394.70 | 48,250,000.00 | 292,184,346.05 | |||||||
GuangdongJiangzhongExpresswayCo.,Ltd. | 318,091,639.29 | 60,000,000.00 | 7,786,931.71 | 31,228.99 | 385,909,799.99 | ||||||
GanzhouGankangExpresswayCo.,Ltd. | 154,118,397.12 | 5,447,568.74 | 159,565,965.86 | ||||||||
GanzhouKangdaExpresswayCo.,Ltd. | 238,101,017.69 | 18,635,759.71 | 256,736,777.40 | ||||||||
ShenzhenHuiyanExpresswayCo.,Ltd. | 320,966,384.17 | 18,574,112.50 | 339,540,496.67 | ||||||||
GuoyuanSecuritiesCo.,Ltd. | 972,089,465.72 | 18,673,979.80 | -836,824.71 | 18,626,864.76 | 971,299,756.05 | ||||||
GuangdongYuepuSmallRefinancingCo.,Ltd(Note) | 216,343,601.27 | 4,709,292.76 | 57,008.18 | 221,109,902.21 | |||||||
HunnanLianzhiTechnologyCo.,.Ltd. | 90,617,427.28 | 2,547,901.15 | 93,165,328.43 | ||||||||
SPICYuetongQiyuanChipPowerTechnologyCo.,Ltd. | 964,797.35 | 4,000,000.00 | -221,892.64 | 4,742,904.71 | |||||||
ShenzhenGarageElectricPileTechnologyCo.,Ltd | 95,000,000.00 | 874,800.03 | 95,874,800.03 |
Subtotal | 2,627,130,681.24 | 159,000,000.00 | 101,624,848.46 | -836,824.71 | 88,237.17 | 66,876,864.76 | 2,820,130,077.40 | ||
Total | 2,627,130,681.24 | 159,000,000.00 | 101,624,848.46 | -836,824.71 | 88,237.17 | 66,876,864.76 | 2,820,130,077.40 |
Othernote
10.OtherEquityinstrumentinvestment
InRMB
Items | Closingbalance | Openingbalance |
GuangleExpresswayCo.,Ltd. | 766,790,940.56 | 746,129,411.97 |
GuangdongRadioandTelevisionNetworksinvestmentNo.1Limitedpartnershipenterprise | 50,000,000.00 | 50,000,000.00 |
ChinaEverbrightBankCo.,Ltd. | 708,117,381.44 | 781,046,414.08 |
HuaxiaSecuritiesCo.,Ltd.(Notes1) | ||
HuazhengAssetManagementCo.,Ltd.(Notes2) | ||
Total | 1,524,908,322.00 | 1,577,175,826.05 |
Breakdowndisclosureofinvestmentinnon-tradableequityinstrumentsinthecurrentperiod
InRMB
Items | Dividendincomerecognized | Cumulativegain | Cumulativeloss | Amountofotherconsolidatedincometransferredtoretainedearnings | Reasonsfordesignationasmeasuredatfairvalueandchangesincludedinothercomprehensiveincome | Reasonsforotherconsolidatedincometransferredtoretainedearnings |
GuangleExpresswayCo.,Ltd. | 18,442,638.83 | Non-transactionalpurposeforshareholding | ||||
GuangdongRadioandTelevisionNetworksinvestmentNo.1Limitedpartnershipenterprise | 8,455,606.40 | Non-transactionalpurposeforshareholding | ||||
ChinaEverbrightBankCo.,Ltd. | 47,286,243.74 | 190,556,504.64 | Non-transactionalpurposeforshareholding | |||
HuaxiaSecuritiesCo.,Ltd. | 5,400,000.00 | Non-transactionalpurposeforshareholding | ||||
HuazhengAssetManagementCo.,Ltd. | 1,620,000.00 | Non-transactionalpurposeforshareholding | ||||
Total | 47,286,243.74 | 217,454,749.87 | 7,020,000.00 |
Note1:Theowner'sequityofHuaxiaSecuritiesCo.,Ltd.wasnegativeanditenteredliquidationprocedureinDecember2005.TheCompanymadefullprovisionforimpairmentinrespectofthislong-termequityinvestmentofRMB5.4million.Note2:AccordingtoDeWeiPingGuZi2005No.88AppraisalReportissuedbyBeijingDeweiAppraisalCo.,Ltd.AstheJune30,2005,theamountofnetassetsofHuazhengAssetManagementCo.,Ltd.inbookwas279.132millionyuanandtheappraisedvaluewas-2299.5486millionyuan,OnOctober14,2005,JianyinCITICAssetManagementCo.,Ltd.issuedtheLetterofSolicitingOpinionsonEquityAssignmenttotheCompany.JianyinCITICAssetManagementCo.,Ltd.waswillingtopaythepriceofnotmorethan42millionyuantoacquire100%equityofHuazhengAssetManagementCo.,Ltd.andsolicitedtheCompany'sopinions.TheCompanyrepliedonDecember5,2005,abandoningthepreemptiverightunderthesameconditions.TheCompanymadeprovisionof1.62millionyuanforimpairmentinrespectofthislong-termequityinvestmentof1.62millionyuan.
11.Othernon-currentfinancialassets
InRMB
Items | Closingbalance | Openingbalance |
Classifiedasfinancialassetsmeasuredatfairvalueandwhosechangesareincludedinthecurrentprofitandloss | 91,000,000.00 | |
Total | 91,000,000.00 |
Othernote:
12.Investmentproperty
(1)Investmentpropertyadoptedthecostmeasurementmode
√Applicable□Notapplicable
InRMB
Items | Housesandbuildings | Landuseright | Total |
I.Originalvalue | |||
1.Openingbalance | 12,664,698.25 | 2,971,831.10 | 15,636,529.35 |
2.Increasedamountoftheperiod | |||
(1)Outsourcing | |||
(2)Inventory,FixedassetsandConstructionprojectinto | |||
(3))IncreasedofEnterpriseconsolidation |
3.Decreasedamountoftheperiod
3.Decreasedamountoftheperiod |
(1)Disposal |
(2)OtherOut |
4.Closingbalance
4.Closingbalance | 12,664,698.25 | 2,971,831.10 | 15,636,529.35 |
II.Accumulateddepreciationaccumulatedamortization | |||
1.Openingbalance | 10,842,190.02 | 1,905,075.92 | 12,747,265.94 |
2.Increasedamountoftheperiod | 73,774.56 | 36,784.68 | 110,559.24 |
(1)Withdrawaloramortization | 73,774.56 | 36,784.68 | 110,559.24 |
3.Decreasedamountoftheperiod
3.Decreasedamountoftheperiod |
(1)Disposal |
(2)OtherOut |
4.Closingbalance
4.Closingbalance | 10,915,964.58 | 1,941,860.60 | 12,857,825.18 |
III.Impairmentprovision | |||
1.Openingbalance |
2.Increasedamountoftheperiod |
(1)Withdrawal |
3.Decreasedamountoftheperiod
3.Decreasedamountoftheperiod |
(1)Disposal |
(2)OtherOut |
4.Closingbalance
4.Closingbalance | |||
IV.Bookvalue | |||
1.Closingbookvalue | 1,748,733.67 | 1,029,970.50 | 2,778,704.17 |
2.Openingbook | 1,822,508.23 | 1,066,755.18 | 2,889,263.41 |
(2)Investmentpropertyadoptedfairvaluemeasurementmode
□Applicable√Notapplicable
(3)Detailsofinvestmentpropertyfailedtoaccomplishcertificationofproperty
InRMB
Items | Bookbalance | Reason |
HousesandBuilding | 1,071,423.06 | Transportationandotherancillaryfacilities,Notaccreditation |
Total | 1,071,423.06 |
Othernote
13.Fixedassets
InRMB
Items | Year-endbalance | Year-beginningbalance |
Fixedassets | 10,148,415,374.03 | 10,639,272,192.02 |
liquidationoffixedassets | 30,726.42 | |
Total | 10,148,446,100.45 | 10,639,272,192.02 |
(1)Listoffixedassets
InRMB
Items | GuangfoExpressway | FokaiExpressway | GuanghuiExpressway | JingzhuExpresswayGuangzhusection | Houseandbuildings | Machineryequipment | Transportationequipment | Electricityequipmentandother | Total |
I.Originalprice | |||||||||
1.Openingbalance | 1,460,270,190.66 | 10,892,817,927.30 | 6,477,849,977.48 | 5,135,987,691.45 | 669,836,729.92 | 1,782,537,704.16 | 62,110,614.95 | 133,644,602.58 | 26,615,055,438.50 |
2.Increasedamountoftheperiod | 483,543.00 | 383,593.00 | 1,556,245.00 | 507,923.49 | 1,608,988.10 | 4,540,292.59 | |||
(1)Purchase | 991,499.00 | 507,923.49 | 1,608,988.10 | 3,108,410.59 | |||||
(2)Transferofprojectunderconstruction | 383,593.00 | 590,000.00 | 973,593.00 | ||||||
(3)IncreasedofEnterpriseconsolidation | |||||||||
(4)Other | 483,543.00 | -25,254.00 | 458,289.00 | ||||||
3.Decreasedamountoftheperiod | 147,662.97 | 19,524,138.58 | 22,418,321.27 | 1,685,667.76 | 2,704,496.12 | 46,480,286.70 | |||
(1)Disposalorscrap | 147,662.97 | 249,936.00 | 869,052.96 | 1,266,651.93 | |||||
(2)Dispositionsubsidiary | 19,274,202.58 | 22,418,321.27 | 1,685,667.76 | 1,835,443.16 | 45,213,634.77 | ||||
4.Closingbalance | 1,460,270,190.66 | 10,892,670,264.33 | 6,477,849,977.48 | 5,136,471,234.45 | 650,696,184.34 | 1,761,675,627.89 | 60,932,870.68 | 132,549,094.56 | 26,573,115,444.39 |
II.Accumulateddepreciation | |||||||||
1.Openingbalance | 1,460,270,190.66 | 5,486,082,815.59 | 3,950,515,659.85 | 3,164,580,817.91 | 461,466,902.63 | 1,313,881,686.26 | 49,780,181.86 | 85,083,678.62 | 15,971,661,933.38 |
2.Increasedamountoftheperiod | 172,016,724.19 | 154,616,928.05 | 75,065,187.78 | 14,621,404.46 | 56,968,816.16 | 1,031,062.02 | 5,676,372.23 | 479,996,494.89 | |
(1)Withdrawal | 172,016,724.19 | 154,616,928.05 | 75,065,187.78 | 14,621,404.46 | 56,968,816.16 | 1,031,062.02 | 5,676,372.23 | 479,996,494.89 |
(2)Other | |||||||||
3.Decreasedamountoftheperiod | 98,638.86 | 10,020,897.41 | 17,513,652.87 | 1,601,384.37 | 1,845,097.50 | 31,079,671.01 | |||
(1)Disposalorscrap | 98,638.86 | 9,220.96 | 825,724.31 | 933,584.13 | |||||
(2)Dispositionsubsidiary | 10,011,676.45 | 17,513,652.87 | 1,601,384.37 | 1,019,373.19 | 30,146,086.88 | ||||
4.Closingbalance | 1,460,270,190.66 | 5,658,000,900.92 | 4,105,132,587.90 | 3,239,646,005.69 | 466,067,409.68 | 1,353,336,849.55 | 49,209,859.51 | 88,914,953.35 | 16,420,578,757.26 |
III.Impairmentprovision | |||||||||
1.Openingbalance | 2,889,394.16 | 1,231,918.94 | 4,121,313.10 | ||||||
2.Increasedamountoftheperiod | |||||||||
(1)Withdrawal | |||||||||
(2)Other | |||||||||
3.Decreasedamountoftheperiod | |||||||||
(1)Disposalorscrap | |||||||||
(2)Dispositionsubsidiary | |||||||||
4.Closingbalance | 2,889,394.16 | 1,231,918.94 | 4,121,313.10 | ||||||
IV.Bookvalue | |||||||||
1.Closingbookvalue | 5,234,669,363.41 | 2,372,717,389.58 | 1,896,825,228.76 | 181,739,380.50 | 407,106,859.40 | 11,723,011.17 | 43,634,141.21 | 10,148,415,374.03 | |
2.Openingbook | 5,406,735,111.71 | 2,527,334,317.63 | 1,971,406,873.54 | 205,480,433.13 | 467,424,098.96 | 12,330,433.09 | 48,560,923.96 | 10,639,272,192.02 |
(2)Temporarilyidlefixedassets
InRMB
Items | Originalprice | Accumulateddepreciation | Impairmentprovision | Bookvalue | Remark |
Houseandbuildings | 6,176,339.21 | 4,523,128.50 | 1,653,210.71 | ||
Machineryequipment | 2,322,167.00 | 1,090,248.06 | 1,231,918.94 |
(3)Fixedassetsleasedoutfromoperationlease
None
(4)Detailsoffixedassetsfailedtoaccomplishcertificationofproperty
InRMB
Items | Bookbalance | Reason |
Houseandbuildings | 174,825,065.82 | Transportationandotherancillaryfacilities,Notaccreditation. |
OthernoteNote
(5)liquidationoffixedassets
InRMB
Items | Year-endbalance | Year-beginningbalance |
Officeequipmentandother | 30,726.42 | |
Total | 30,726.42 |
OthernoteNone
14.Projectunderconstruction
InRMB
Items | Year-endbalance | Year-beginningbalance |
Projectunderconstruction | 475,554,879.75 | 351,130,455.06 |
Total | 475,554,879.75 | 351,130,455.06 |
(1)Projectunderconstruction
InRMB
Items | Year-endbalance | Year-beginningbalance | ||||
Bookbalance | Provisionfordevaluation | Bookvalue | Bookbalance | Provisionfordevaluation | Bookvalue | |
GualvhuInterchangeproject | 173,515,217.94 | 173,515,217.94 | 160,502,763.61 | 160,502,763.61 | ||
HuizhouNorthInterchangeProject | 164,750,114.70 | 164,750,114.70 | 105,046,556.00 | 105,046,556.00 | ||
ReconstructionandExpansionofSanbaotoShuikou | 70,055,555.39 | 70,055,555.39 | 42,058,703.12 | 42,058,703.12 | ||
Jiangxi-Shenzhenhigh-speedrailwaycross-sectionexpansionproject | 14,800,073.98 | 14,800,073.98 | 14,470,943.98 | 14,470,943.98 | ||
TanweiBridgeShipCollisionPreventionProject | 1,749,246.00 | 1,749,246.00 | 1,749,246.00 | 1,749,246.00 |
IntelligentTransformationProjectforMonitoringSystemofFoshan-KaipingExpressway(PhaseII) | 1,535,540.00 | 1,535,540.00 | 1,535,540.00 | 1,535,540.00 | ||
Guangzhou-ShantouRailwayCrossingproject | 10,573,552.43 | 10,573,552.43 | 700,943.43 | 700,943.43 | ||
Other | 38,575,579.31 | 38,575,579.31 | 25,065,758.92 | 25,065,758.92 | ||
Total | 475,554,879.75 | 475,554,879.75 | 351,130,455.06 | 351,130,455.06 |
(2)Changesofsignificantconstructioninprogress
InRMB
Nameofproject | Budget | Openingbalance | Increase | Transferredtofixedassets | Otherdecrease | Endbalance | Proportion% | Projectprocess | Capitalizationofinterest | Including:capitalizationofinterestthisperiod | Capitalizationofinterestrate(%) | Sourceoffunding |
ReconstructionandExpansionofSanbaotoShuikou | 3,426,210,000.00 | 42,058,703.12 | 27,996,852.27 | 70,055,555.39 | 76.95% | 83.01 | 72,779,504.82 | Other | ||||
GualuhuInterchangeproject | 203,460,000.00 | 160,502,763.61 | 13,012,454.33 | 173,515,217.94 | 85.28% | 85.28 | Other | |||||
Guangzhou-ShantouRailwayCrossingproject | 18,811,100.00 | 700,943.43 | 9,872,609.00 | 10,573,552.43 | 56.21% | 56.21 | Other | |||||
Jiangxi-Shenzhenhigh-speedrailwaycross-sectionexpansionproject | 15,730,000.00 | 14,470,943.98 | 329,130.00 | 14,800,073.98 | 94.09% | 94.09 | Other | |||||
HuizhouNorthInterchangeProject | 239,170,000.00 | 105,046,556.00 | 59,703,558.70 | 164,750,114.70 | 68.88% | 68.88 | Other | |||||
TanweiBridgeShipCollisionPreventionProject | 50,000,000.00 | 1,749,246.00 | 1,749,246.00 | 3.50% | 3.50 | Other | ||||||
Total | 3,953,381,100.00 | 324,529,156.14 | 110,914,604.30 | 435,443,760.44 | 72,779,504.82 |
(3)ProvisionforimpairmentofconstructionprojectsinthecurrentperiodNone
(4)EngineeringMaterials:None
15.Userightassets
InRMB
Items | Houseandbuildings | Machineryequipment | Transportationequipment | Other | Total |
I.Originalprice | |||||
1.Openingbalance | 21,487,031.29 | 357,112.19 | 1,163,391.05 | 1,007,747.00 | 24,015,281.53 |
2.Increasedamountoftheperiod |
3.Decreasedamountoftheperiod
3.Decreasedamountoftheperiod | 496,501.35 | 496,501.35 | |||
(1)Transferorholdforsale | |||||
(2)Disposalsubsidiary | 496,501.35 | 496,501.35 | |||
4.Closingbalance | 21,487,031.29 | 357,112.19 | 666,889.70 | 1,007,747.00 | 23,518,780.18 |
II.Accumulateddepreciation | |||||
1.Openingbalance | 9,208,727.65 | 71,422.44 | 527,788.99 | 107,017.44 | 9,914,956.52 |
2.Increasedamountoftheperiod | 4,604,363.82 | 35,711.22 | 217,233.69 | 53,508.72 | 4,910,817.45 |
(1)Withdrawal | 4,604,363.82 | 35,711.22 | 217,233.69 | 53,508.72 | 4,910,817.45 |
3.Decreasedamountoftheperiod
3.Decreasedamountoftheperiod | 244,855.42 | 244,855.42 | |||
(1)Disposition | |||||
(2)Disposalsubsidiary | 244,855.42 | 244,855.42 | |||
4.Closingbalance | 13,813,091.47 | 107,133.66 | 500,167.26 | 160,526.16 | 14,580,918.55 |
III.Impairmentprovision | |||||
1.Openingbalance | |||||
2.Increasedamountoftheperiod | |||||
(1)Withdrawal |
3.Decreasedamountoftheperiod
3.Decreasedamountoftheperiod |
(1)Disposition |
4.Closingbalance
4.Closingbalance | |||||
IV.Bookvalue | |||||
1.Closingbookvalue | 7,673,939.82 | 249,978.53 | 166,722.44 | 847,220.84 | 8,937,861.63 |
2.Openingbookvalue | 12,278,303.64 | 285,689.75 | 635,602.06 | 900,729.56 | 14,100,325.01 |
16.Intangibleassets
(1)Listofintangibleassets
InRMB
Items | Landuseright | Software | TheTurnpikefranchise | Total |
I.Originalprice | ||||
1.Openingbalance | 1,311,658.00 | 42,063,790.16 | 318,348,741.86 | 361,724,190.02 |
2.Increasedamountoftheperiod | 5,760.00 | 5,760.00 | ||
(1)Purchase | 5,760.00 | 5,760.00 | ||
(2)InternalDevelopment | ||||
(3)IncreasedofEnterpriseCombination |
3.Decreasedamountoftheperiod
3.Decreasedamountoftheperiod | 1,537,371.23 | 1,537,371.23 | ||
(1)Disposal | 58,000.00 | 58,000.00 | ||
(2)Governmentsubsidiescut | ||||
(3)Disposalsubsidiary | 1,479,371.23 | 1,479,371.23 | ||
4.Closingbalance | 1,311,658.00 | 40,532,178.93 | 318,348,741.86 | 360,192,578.79 |
II.Accumulatedamortization | ||||
1.Openingbalance | 1,311,658.00 | 34,803,392.38 | 57,104,963.21 | 93,220,013.59 |
2.Increasedamountoftheperiod | 1,346,606.80 | 10,041,478.18 | 11,388,084.98 | |
(1)Withdrawal | 1,346,606.80 | 10,041,478.18 | 11,388,084.98 |
3.Decreasedamountoftheperiod
3.Decreasedamountoftheperiod | 730,179.75 | 730,179.75 | ||
(1)Disposal | 58,000.00 | 58,000.00 | ||
(2)Disposalsubsidiary | 672,179.75 | 672,179.75 | ||
4.Closingbalance | 1,311,658.00 | 35,419,819.43 | 67,146,441.39 | 103,877,918.82 |
III.Impairmentprovision | ||||
1.Openingbalance | ||||
2.Increasedamountoftheperiod | ||||
(1)Withdrawal |
3.Decreasedamountoftheperiod
3.Decreasedamountoftheperiod |
(1)Disposal |
4.Closingbalance
4.Closingbalance | ||||
IV.Bookvalue | ||||
1.Closingbookvalue | 5,112,359.50 | 251,202,300.47 | 256,314,659.97 | |
2.Openingbookvalue | 7,260,397.78 | 261,243,778.65 | 268,504,176.43 |
Theintangibleassetsbytheendoftheformationofthecompany'sinternalR&Daccounted0.00%oftheproportionofthebalanceofintangibleassets
⑵DetailsofLanduserightfailedtoaccomplishcertificationofpropertyNone
17.Long-termamortizeexpenses
InRMB
Items | Balanceinyear-begin | Increaseinthisperiod | Amortizedexpenses | Otherloss | Balanceinyear-end |
Prepaidbusinesstaxandsurchargesbeforereplacementofbusinesstaxwithvalue-addedtax | 2,103,750.00 | 2,103,750.00 | |||
Total | 2,103,750.00 | 2,103,750.00 |
18.Deferredincometaxassets/deferredincometaxliabilities
(1)Deferredincometaxassetshadnotbeenoff-set
InRMB
Items | Balanceinyear-end | BalanceYear-beginning | ||
Deductibletemporarydifference | Deferredincometaxassets | Deductibletemporarydifference | Deferredincometaxassets | |
Assetsimpairmentprovisions | 7,264,977.10 | 1,816,244.28 | 7,264,977.10 | 1,816,244.28 |
Deductibleloss | 506,439,537.12 | 126,609,884.28 | 671,918,486.05 | 167,979,621.51 |
Amortizationofintangibleassets | 142,847,699.24 | 35,711,924.81 | 190,813,984.60 | 47,703,496.15 |
Deferredincome | 25,954,618.49 | 6,488,654.62 | 30,978,093.11 | 7,744,523.33 |
Total | 682,506,831.95 | 170,626,707.99 | 900,975,540.86 | 225,243,885.27 |
(2)Deferredincometaxliabilitieshadnotbeenoff-set
InRMB
Items | Balanceinyear-end | BalanceYear-beginning | ||
Deductibletemporarydifference | Deferredincometaxliabilities | Deductibletemporarydifference | Deferredincometaxliabilities | |
Changesinthefairvalueofotherequityinstruments | 190,556,504.64 | 47,639,126.16 | 263,485,537.28 | 65,871,384.32 |
Deductibletemporarydifferencesintheformationofassetimpairment | 948,354,397.89 | 237,088,599.48 | 995,623,507.00 | 248,905,876.75 |
Differenceofamortizationmethodoffranchiseoftollroad | 7,527,382.78 | 1,881,845.70 | 4,580,106.28 | 1,145,026.57 |
Total | 1,146,438,285.31 | 286,609,571.34 | 1,263,689,150.56 | 315,922,287.64 |
(3)Deferredincometaxassetsorliabilitieslistedasnetafteroffset:None
(4)Detailsofunrecognizeddeferredtaxassets
InRMB
Items | Balanceinyear-end | BalanceYear-beginning |
Deductibletemporarydifference | 37,864,110.43 | 93,406,200.73 |
Deductibleloss | 16,491,381.27 | 15,342,382.11 |
Total | 54,355,491.70 | 108,748,582.84 |
(5)Deductiblelossesoftheun-recognizeddeferredincometaxassetwillexpireinthefollowingyears
InRMB
Year | Balanceinyear-end | BalanceYear-beginning | Remark |
2022 | 1,133,109.04 | ||
2023 | 3,129,535.72 | 3,129,535.72 | |
2024 | 3,618,779.07 | 3,618,779.07 | |
2025 | 3,571,100.29 | 3,571,100.29 | |
2026 | 3,889,857.99 | 3,889,857.99 | |
2027 | 2,282,108.20 | ||
Total | 16,491,381.27 | 15,342,382.11 |
Othernote
19.OtherNon-currentassets
InRMB
Items | Balanceinyear-end | BalanceYear-beginning | ||||
Bookbalance | Provisionfordevaluation | Bookvalue | Bookbalance | Provisionfordevaluation | Bookvalue | |
Prepaidfixedassetsengineeringfees | 8,763,006.33 | 8,763,006.33 | 24,675,415.36 | 24,675,415.36 | ||
Prepaidbusinesstax | 2,317,847.28 | 2,317,847.28 | 415,282.44 | 415,282.44 | ||
Fixeddepositinterest | 13,368,083.33 | 13,368,083.33 | ||||
Less:Partduewithin1year | 402,370.32 | 402,370.32 | 51,745.32 | 51,745.32 | ||
Total | 24,046,566.62 | 24,046,566.62 | 25,038,952.48 | 25,038,952.48 |
20.Short-termBorrowing
(1)Short-termBorrowing
InRMB
Total | Balanceinyear-end | BalanceYear-beginning |
CreditBorrowing | 320,000,000.00 | |
Interestaccruedonshort-termborrowing | 266,666.67 | |
Total | 320,266,666.67 |
(2)Overdueshort-termborrowings
None
21.Accountpayable
(1)Listofaccountpayable
InRMB
Items | Balanceinyear-end | BalanceYear-beginning |
Within1year(Including1year) | 49,349,432.03 | 137,346,075.15 |
1-2years(including2years) | 22,596,734.53 | 32,260,718.56 |
2-3years(including3years) | 2,470,428.84 | 30,239,953.68 |
Over3years | 58,651,893.87 | 64,640,392.05 |
Total | 133,068,489.27 | 264,487,139.44 |
(2)Significantpayableagingmorethan1year
InRMB
Items | Balanceinyear-end | Reason |
FoshanLandandresourcesBureau. | 30,507,598.21 | Unsettled |
GuangZhongjiangExpresswayprojectManagementDept | 17,466,700.00 | Unsettled |
HeshanLandandresourcesBureau | 9,186,893.60 | Unsettled |
PolyChangdaEngineeringCo.,Ltd. | 5,914,675.30 | Unsettled |
FoshanChanchengDistrict,ZhangChaSub-districtOffice | 4,626,817.32 | Unsettled |
Total | 67,702,684.43 |
22.Prepaymentreceived
(1)ListofPrepaymentreceived
InRMB
Items | Balanceinyear-end | BalanceYear-beginning |
Within1year(Including1year) | 3,744,384.23 | 1,937,127.54 |
1-2years(Including2years) | 2,777.78 | |
2-3years(Including3years) | ||
Over3years | 8,720,303.19 | |
Total | 3,744,384.23 | 10,660,208.51 |
(2)SignificantadvancefromcustomersagingoveroneyearNone
23.Contractliabilities
InRMB
Items | Balanceinyear-end | BalanceYear-beginning |
Advancesonsales | 22,000.00 | |
Total | 22,000.00 |
24.PayableEmployeewage
(1)PayableEmployeewage
InRMB
Items | Year-beginningbalance | Increaseinthecurrentperiod | Decreaseinthecurrentperiod | Year-endbalance |
I.Short-termcompensation | 19,213,631.91 | 179,052,323.99 | 180,498,035.02 | 17,767,920.88 |
II.Post-employmentbenefits-definedcontributionplans | 32,990,072.18 | 31,061,678.37 | 1,928,393.81 | |
III.Dismissalbenefits | 319,422.79 | 319,422.79 | ||
Total | 19,213,631.91 | 212,361,818.96 | 211,879,136.18 | 19,696,314.69 |
(2)Short-termRemuneration
InRMB
Items | Year-beginningbalance | Increaseinthecurrentperiod | Decreaseinthecurrentperiod | Year-endbalance |
1.Wages,bonuses,allowancesandsubsidies | 505,563.47 | 131,722,644.01 | 131,763,143.99 | 465,063.49 |
2.Employeewelfare | 10,930,352.42 | 10,930,352.42 | ||
3.Socialinsurancepremiums | 13,198,412.76 | 13,198,412.76 | ||
Including:Medicalinsurance | 8,684,902.55 | 8,684,902.55 | ||
Workinjuryinsurance | 391,109.89 | 391,109.89 | ||
Maternityinsurance | 858,405.91 | 858,405.91 | ||
Other | 3,263,994.41 | 3,263,994.41 | ||
4.Publicreservesforhousing | 18,335,320.08 | 18,335,320.08 | ||
5.Unionfundsandstaffeducationfee | 16,483,121.80 | 4,123,622.20 | 5,528,833.25 | 15,077,910.75 |
6.Other | 2,224,946.64 | 741,972.52 | 741,972.52 | 2,224,946.64 |
Total | 19,213,631.91 | 179,052,323.99 | 180,498,035.02 | 17,767,920.88 |
(3)Definedcontributionplanslisted
InRMB
Items | BalanceYear-beginning | Increaseinthisperiod | Payableinthisperiod | Balanceinyear-end |
1.Basicold-ageinsurancepremiums | 19,423,171.07 | 19,423,171.07 | ||
2.Unemploymentinsurance | 545,032.26 | 545,032.26 | ||
3.Enterpriseannuitypayment | 13,021,868.85 | 11,093,475.04 | 1,928,393.81 | |
Total | 32,990,072.18 | 31,061,678.37 | 1,928,393.81 |
25.TaxPayable
InRMB
Items | Balanceinyear-end | BalanceYear-beginning |
VAT | 11,690,299.91 | 15,734,725.35 |
EnterpriseIncometax | 121,481,902.80 | 143,478,849.99 |
IndividualIncometax | 382,458.23 | 3,202,322.06 |
CityConstructiontax | 758,949.20 | 1,044,325.22 |
Educationsubjoin | 367,292.89 | 492,391.84 |
LocalityEducationsubjoin | 226,426.42 | 308,823.69 |
Vehicleandvesseltax | ||
Landusetax | 523,762.40 | |
Propertytax | 724,952.77 | 110,493.45 |
Stamptax | 26,991.20 | 240,581.39 |
Total | 136,183,035.82 | 164,612,512.99 |
26.Otheraccountspayable
InRMB
Items | Balanceinyear-end | BalanceYear-beginning |
Dividendpayable | 1,312,635,476.59 | 22,941,943.24 |
Otheraccountpayable | 141,554,884.49 | 155,028,540.52 |
Total | 1,454,190,361.08 | 177,970,483.76 |
(1)Interestpayable:None
(2)Dividendspayable
InRMB
Items | Balanceinyear-end | BalanceYear-beginning |
Commonstockdividends | 1,214,635,476.59 | 22,941,943.24 |
Dividendspayable-GuangdongProvincialFreewayCo.,Ltd. | 33,000,000.00 | |
Dividendspayable-GuangdongZhujiangHighwayandBridgeInvestmentCo.,Ltd | 60,000,000.00 | |
Dividendspayable-HZCI | 5,000,000.00 | |
Total | 1,312,635,476.59 | 22,941,943.24 |
Note:Includingsignificantunpaiddividendspayableoveroneyear,theunpaidreasonshallbedisclosed:
Finaldividendpayable22,875,984.77
yuanformorethanayearinunpaiddividendstoshareholdersovertheyearwasmainlyduetonon-paymentofshareholderdividendsdidnotprovideinformationoninterest-bearingbank,didnotsharereformofshareholderstoreceivedividendsorprovideapplicationtoreceivedividendsthebankinformationisincorrect,resultinginfailuretopayadividendorrefund.
(3)Otheraccountspayable
(1)Otheraccountspayablelistedbynatureoftheaccount
InRMB
Items | Year-endbalance | Year-Beginningbalance |
Estimatedprojectcost | 42,437,693.41 | 42,394,262.23 |
Deposit,warrantyandsecuritydeposit | 66,199,711.17 | 77,685,535.90 |
Other | 32,917,479.91 | 34,948,742.39 |
Total | 141,554,884.49 | 155,028,540.52 |
(2)Othersignificantaccountspayablewithagingoveroneyear
InRMB
Items | Closingbalance | Unpaid/un-carryoverreason |
YayaotoXiebianextension | 12,499,448.48 | Thesettlementconditionsarenotmet |
PolyChangdaHighwayEngineeringCo.,Ltd. | 11,148,264.73 | Thesettlementconditionsarenotmet |
GuangdongGuanyueRoad&BridgeCo.,Ltd. | 7,334,064.80 | Thesettlementconditionsarenotmet |
GuangdongNengdaHighGradeHighwayMaintenanceCo.,Ltd. | 3,911,297.10 | Thesettlementconditionsarenotmet |
GuangdongXinyueTrafficInvestmentCo.,Ltd. | 3,664,337.93 | Thesettlementconditionsarenotmet |
Total | 38,557,413.04 |
27.Non-currentliabilitiesduewithin1year
InRMB
Items | Balanceyear-end | Year-beginningbalance |
Long-termloansduewithin1year | 437,976,600.00 | 465,576,600.00 |
Long-termpayableduewithin1year | 944,339.62 | 944,339.62 |
Leaseliabilitiesduewithin1year | 9,973,785.52 | 12,474,474.87 |
Payableinterestduewithin1year | 20,854,603.21 | 46,648,953.77 |
Total | 469,749,328.35 | 525,644,368.26 |
28.Othercurrentliabilities
InRMB
Items | Balanceyear-end | Year-beginningbalance |
Taxtoberewritten | 1,133,695.05 | 726,336.48 |
Total | 1,133,695.05 | 726,336.48 |
29.Long-termloan
(1)Categoryoflong-termloan
InRMB
Items | Balanceyear-end | Year-beginningbalance |
Pledgeloan | 548,360,000.00 | 582,195,000.00 |
Creditloan | 4,424,001,700.00 | 4,456,002,800.00 |
Less:Long-termloansduewithinoneyear | -437,976,600.00 | -465,576,600.00 |
Total | 4,534,385,100.00 | 4,572,621,200.00 |
Othernotes,includinginterestraterange:Theinterestrateofpledgeloanis3.8%--3.95%;theinterestrateofcreditloanis3.35%--4.1%.
30.Bondpayable
(1)Bondpayable
InRMB
Items | Balanceyear-end | Year-beginningbalance |
Medium-termnote | 1,427,903,757.98 | 1,427,434,086.58 |
Total | 1,427,903,757.98 | 1,427,434,086.58 |
(2)Changesofbondspayable(Notincludingtheotherfinancialinstrumentofpreferredstockandperpetualcapitalsecuritiesthatclassifyasfinancialliability
InRMB
Nameofthebond | Bookvalue | Issuedate | Period | Issueamount | Openingbalance | Thecurrentissue | Withdrawinterestatpar | Overflowdiscountamount | Payincurrentperiod | Closingbalance |
19GuangdongExpresswayMTN001 | 680,000,000.00 | 2019.2.27 | 2019.3.1-2024.3.1 | 680,000,000.00 | 679,025,866.59 | -223,447.86 | 679,249,314.45 | |||
20GuangdongExpresswayMTN001 | 750,000,000.00 | 2020.3.13 | 2020.3.17-2025.3.17 | 750,000,000.00 | 748,408,219.99 | -246,223.54 | 748,654,443.53 | |||
Total | —— | 1,430,000,000.00 | 1,427,434,086.58 | -469,671.40 | 1,427,903,757.98 |
(3)NotetoconditionsandtimeofsharetransferofconvertiblebondsNone
(4)OtherfinancialinstrumentsthatareclassifiedasfinancialliabilitiesNone
31.Leaseliabilities
InRMB
Items | Balanceyear-end | Year-beginningbalance |
Long-termleaseliabilities | 10,196,090.60 | 15,247,934.63 |
Including:Financingcostsarenotrecognized | 180,417.29 | 423,662.82 |
Less:Leaseliabilitiesduewithin1year | 9,973,785.52 | 12,474,474.87 |
Total | 222,305.08 | 2,773,459.76 |
32.Long-termpayable
InRMB
Items | Balanceyear-end | Year-beginningbalance |
Long-termpayable | 2,517,493.12 | 3,461,832.74 |
Total | 2,517,493.12 | 3,461,832.74 |
(1)Long-termpayablelistedbynatureoftheaccount
InRMB
Items | Balanceyear-end | Year-beginningbalance |
Non-operatingassetpayable | 2,022,210.11 | 2,022,210.11 |
Mediumtermbillunderwritingfee | 1,439,622.63 | 2,383,962.25 |
Less:Partduewithin1year | 944,339.62 | 944,339.62 |
Total | 2,517,493.12 | 3,461,832.74 |
33.Deferredincome
InRMB
Items | Openingbalance | Increase | Decrease | Closingbalance | Cause |
Governmentsubsidy | 30,978,093.11 | 5,023,474.62 | 25,954,618.49 | ||
Leaseincome | 38,250,000.00 | 9,094,873.88 | 3,466,399.53 | 43,878,474.35 | |
Total | 69,228,093.11 | 9,094,873.88 | 8,489,874.15 | 69,833,092.84 |
Detailsofgovernmentsubsidies:
InRMB
Items | Beginningofterm | Newsubsidyincurrentperiod | Amounttransferredtonon-operationalincome | Otherincomerecordedinthecurrentperiod | Amountofcostdeductedinthecurrentperiod | Otherchanges | Endofterm | Asset-relatedorincome-related |
CancellationofExpresswayProvincialTollStationProject | 30,978,093.11 | 5,023,474.62 | 25,954,618.49 | Relatedtoassets |
34.Stockcapital
InRMB
BalanceYear-beginning | Changed(+,-) | Balanceinyear-end | ||||
Issuanceofnewshare | Bonus | Capitalizatio | Other | Subtotal |
shares | nofpublicreserve | |||||
Totalofcapitalshares | 2,090,806,126.00 | 2,090,806,126.00 |
35.Capitalreserves
InRMB
Items | Year-beginningbalance | Increaseinthecurrentperiod | Decreaseinthecurrentperiod | Year-endbalance |
Sharepremium | 508,711,146.99 | 508,711,146.99 | ||
(1)Capitalinvestedbyinvestors | 2,508,408,342.99 | 2,508,408,342.99 | ||
(2)Influenceofbusinesscombinationunderthesamecontrol | -1,999,697,196.00 | -1,999,697,196.00 | ||
Othercapitalreserves | 204,749,371.50 | 19,708,141.17 | 224,457,512.67 | |
(1)Changesinotherequityoftheinvesteeundertheequityaccounting(Note1,2) | -3,457,667.20 | 88,237.17 | -3,369,430.03 | |
(2)Other(Note3) | 208,207,038.70 | 19,619,904.00 | 227,826,942.70 | |
Total | 713,460,518.49 | 19,708,141.17 | 733,168,659.66 |
-Thesituationofchangeinthecurrentcapitalreserveisasfollows:
Note1:GuangdongYuepuSmallRefinancingCo.,Ltd-anassociatecompany-adjustedthestatementnumbers.TheCompanyadjustedthebookvalueoflong-termequityinvestmentbeforeequitydilutionaccordingtotheshareholdingratio,resultinginanincreaseincapitalreserveofRMB57,008.18duetochangesinequitydilutedequity.
Note2:GuangdongJiangzhongExpresswayCo.,Ltd-anassociatecompany-madeprovisionforspecialreserves,andtheCompanyadjustedthebookvalueoflong-termequityinvestmentaccordingtotheshareholdingratio,resultinginanincreaseofcapitalreserveofRMB31,228.99.
Note3.TheagreementsignedbyGuangzhou-HuizhouCompanyandZengchengDistrictGovernmenttoaddZengchengRoadInterchangeonGuangzhou-HuizhouExpressway,whichstipulatesthatGuangzhou-HuizhouCompanywillbuildShaningInterchangeandXinchengRoadInterchange,andalltheexpensesincurredintheconstructionofInterchangewillbebornebyZengchengDistrictGovernment.
TheagreementsignedbyGuangzhou-HuizhouCompanyandHuizhouTransportationBureautoaddChangkengInterchange(tentativename)onGuangzhou-HuizhouExpressway,whichstipulatesthatGuangzhou-HuizhouCompanywillbuildChangkengInterchange(renamedHuizhouNorthInterchange),andalltheexpensesincurredintheconstructionofInterchangewillbebornebyGuangzhou-HuizhouCompany.HuizhouMunicipalTransportationBureauwillgiveGuanghuiCompanyafinancialsubsidyforthisagreedproject.TheHuizhouMunicipalTransportationBureauwillgiveGuanghuiCompanyafinancialsubsidyfortheprojectunderthisagreement.
Aftertheaboveprojectiscompleted,itwillbemanagedbyGuangzhou-HuizhouCompany.AtotalofRMB408,249,095.50wasreceivedfromGovernmentatthebeginningoftheperiod,ofwhichtheopeningbalanceofcapitalreserveattributabletotheparentcompany-othercapitalreservewasRMB208,207,038.70,andRMB38,470,400.00wasnewlyreceivedinthisperiod,ofwhichcapitalreserveattributabletotheparentcompany-othercapitalreserveincreasedbyRMB19,619,904.00inthisperiod.
36.Othercomprehensiveincome
InRMB
Items | Year-beginningbalance | Amountofcurrentperiod | Year-endbalance | |||||
Amountincurredbeforeincometax | Less:Amounttransferredintoprofitandlossinthecurrentperiodthatrecogniedintoothercomprehensiveincomeinpriorperiod | Less:Priorperiodincludedinothercompositeincometransfertoretainedincomeinthecurrentperiod | Less:Incometaxexpenses | After-taxattributetotheparentcompany | After-taxattributetominorityshareholder | |||
1.Othercomprehensiveincomewillbereclassifiedintoincomeorlossinthefuture | 195,395,263.20 | -52,267,504.05 | -18,232,258.16 | -34,035,245.89 | 161,360,017.31 | |||
Changesinfairvalueofinvestmentsinotherequityinstruments | 195,395,263.20 | -52,267,504.05 | -18,232,258.16 | -34,035,245.89 | 161,360,017.31 | |||
2.Othercomprehensiveincomereclassifiabletoprofitorlossinsubsequentperiods | -3,217,796.86 | -836,824.71 | -836,824.71 | -4,054,621.57 | ||||
Including:Shareofothercomprehensiveincomeoftheinvesteethatcannotbetransferredtoprofitorlossaccountedforusingtheequitymethod | -3,217,796.86 | -836,824.71 | -836,824.71 | -4,054,621.57 | ||||
Totalofothercomprehensiveincome | 192,177,466.34 | -53,104,328.76 | -18,232,258.16 | -34,872,070.60 | 157,305,395.74 |
37.Surplusreserve
InRMB
Items | Year-beginningbalance | Increaseinthecurrentperiod | Decreaseinthecurrentperiod | Year-endbalance |
Statutorysurplusreserve | 1,225,375,330.56 | 1,225,375,330.56 | ||
Total | 1,225,375,330.56 | 1,225,375,330.56 |
38.Retainedprofits
InRMB
Items | Amountofthisperiod | Amountoflastperiod |
Beforeadjustments:Retainedprofitsinlastperiodend | 4,760,618,543.78 | 3,725,679,319.35 |
Adjustthetotalundistributedprofitsatthebeginningoftheperiod | 546,190.04 | |
Afteradjustments:Retainedprofitsattheperiodbeginning | 4,760,618,543.78 | 3,726,225,509.39 |
Add:Netprofitbelongingtotheowneroftheparentcompany | 773,786,851.68 | 1,700,406,981.99 |
Less:Statutorysurplusreserve | 57,589,364.93 | |
Commonstockdividendpayable | 1,191,759,491.82 | 608,424,582.67 |
Retainedprofitattheendofthisterm | 4,342,645,903.64 | 4,760,618,543.78 |
Note:ThelastissuereferstoJanuary-December2021.Asregardsthedetailsofadjustedthebeginningundistributedprofits
(1)AstheretroactiveadjustmentonEnterpriseAccountingStandardsanditsrelatednewregulations,theaffectedbeginningundistributedprofitsareRMB0.00.
(2)Asthechangeoftheaccountingpolicy,theaffectedbeginningundistributedprofitsareRMB0.00.
(3)Asthecorrectionofsignificantaccountingerror,theaffectedbeginningundistributedprofitsareRMB0.00.
(4)Asthechangeofconsolidationscopecausedbythesamecontrol,theaffectedbeginningundistributedprofitsareRMB0.00.
(5)OtheradjustmentofthetotalaffectedbeginningundistributedprofitsareRMB0.00.
39.Operationincomeandoperationcost
InRMB
Items | Amountofthisperiod | Amountoflastperiod | ||
Income | Cost | Income | Cost | |
Mainoperation | 2,022,637,008.32 | 682,014,744.35 | 2,448,927,494.46 | 868,560,892.48 |
Otheroperation | 34,783,801.36 | 14,128,978.15 | 39,547,175.35 | 20,566,849.95 |
Total | 2,057,420,809.68 | 696,143,722.50 | 2,488,474,669.81 | 889,127,742.43 |
40.Businesstaxandsubjoin
InRMB
Items | Amountofthisperiod | Amountoflastperiod |
Urbanconstructiontax | 3,906,433.43 | 4,707,823.03 |
Educationsurcharge | 1,870,308.46 | 2,248,134.09 |
Propertytax | 1,026,637.79 | 1,328,788.22 |
Landusetax | 523,762.40 | 875,697.88 |
Vehicleusetax | 43,285.07 | 43,697.47 |
Stamptax | 132,962.51 | 196,890.20 |
Businesstax | 185,247.66 | 185,247.66 |
LocalityEducationsurcharge | 1,243,683.98 | 1,495,067.55 |
Total | 8,932,321.30 | 11,081,346.10 |
Othernote:
41.Administrativeexpenses
InRMB
Items | Amountofthisperiod | Amountoflastperiod |
Wage | 58,799,341.19 | 66,423,609.15 |
DepreciationandAmortization | 6,814,076.61 | 5,724,413.26 |
Intangibleassetsamortization | 953,099.24 | 1,081,305.76 |
Lowconsumablesamortization | 259,600.97 | 324,317.77 |
Rentalfee | 6,027,123.06 | 6,032,852.02 |
Businessfee | 282,100.73 | 372,403.60 |
Officeexpenses | 4,275,751.24 | 4,187,689.42 |
Travelexpenses | 114,358.72 | 325,420.94 |
Consultationexpenses | 100,000.00 | 117,000.00 |
Thefeeforhiringagency | 3,376,068.01 | 3,076,580.06 |
Repairscost | 189,544.16 | 342,887.00 |
Vehiclefee | 1,304,983.31 | 1,504,032.85 |
Listingfee | 11,320.75 | 11,320.75 |
Informationcostandmaintenancefee | 961,765.47 | 507,982.88 |
Other | 2,304,133.58 | 3,325,219.93 |
Total | 85,773,267.04 | 93,357,035.39 |
Othernote
42.R&Dexpenses
InRMB
Items | Amountofthisperiod | Amountoflastperiod |
Wage | 945,204.60 | |
Materialcost | 412,566.35 | |
Depreciation | 5,521.90 | |
Lowconsumablesamortization | 885.00 | |
Officeexpenses | 4,318.22 | |
Repairscost | 391.15 | |
Total | 1,368,887.22 |
Othernote
43.Financialexpenses
InRMB
Items | Amountofthisperiod | Amountoflastperiod |
Interestexpenses | 123,517,238.10 | 149,343,110.61 |
Depositinterestincome(-) | -36,907,508.27 | -29,751,089.44 |
Bankcommissioncharge | 84,179.23 | 93,344.30 |
Other | 608,147.56 | 1,183,218.60 |
Total | 87,302,056.62 | 120,868,584.07 |
44.Othergains
InRMB
Items | Amountofthis | Amountoflast | Asset-relatedorincome- |
period | period | related | |
GovernmentSubsidy-CanceltheSpecialSubsidyforProvincialTollStationProjectofExpressway | 5,023,474.62 | 6,783,738.24 | Relatedtoassets |
Governmentsubsidy-Stablejobsubsidies | 1,250,935.46 | 932,076.28 | Relatetoincome |
Governmentsubsidy-Enterprisessubsidies | 1,074,875.00 | 1,243,500.00 | Relatetoincome |
Governmentsubsidy--Enterpriseswithindustrialtrainingsubsidies | 339,000.00 | Relatetoincome | |
Maternityallowance | 435,454.91 | 149,069.16 | Relatetoincome |
Veterans'VATreductionandexemption | 156,133.38 | 136,670.84 | Relatetoincome |
Withholdingandremittingenterpriseprepaidincometaxfees | 159,544.67 | 322,529.07 | Relatetoincome |
Veterans'VATreductionandexemption | 15,009.81 | 15,785.44 | Relatetoincome |
Withholdandpaytheadvanceofenterpriseincometaxhandlingfeerefund | 62,924.53 | Relatetoincome | |
Total | 8,178,352.38 | 9,922,369.03 |
45.Investmentincome
InRMB
Items | Amountofthisperiod | Amountoflastperiod |
Long-termequityinvestmentincomebyequitymethod | 101,624,848.46 | 122,646,589.32 |
Dividendsearnedduringtheholdingperiodoninvestmentsinotherequityinstrument | 47,286,243.74 | 49,403,538.24 |
Theinvestmentincomegeneratedbythedisposalofthesubsidiaries | 13,564,262.33 | |
Other | -91,000.00 | |
Total | 162,384,354.53 | 172,050,127.56 |
46.Creditimpairmentlosses
InRMB
Items | Amountofthisperiod | Amountoflastperiod |
Impairmentlossesonotherreceivable | -1,310,999.95 | |
Total | -1,310,999.95 |
47.Assetimpairmentloss
InRMB
Items | Amountofthisperiod | Amountoflastperiod |
Lossonimpairmentoffixedassets | -2,889,394.16 | |
Total | -2,889,394.16 |
48.Assetsdisposalincome
InRMB
Items | Amountofcurrentperiod | Amountofpreviousperiod | Theamountofnon-operatinggains&losses |
Non-currentassetsdisposalgains | 463,363.89 | 463,363.89 | |
Including:IncomefromdisposalofFixedassets | 463,363.89 | 463,363.89 | |
Total | 463,363.89 | 463,363.89 |
49.Non-Operationincome
InRMB
Items | Amountofcurrentperiod | Amountofpreviousperiod | Theamountofnon-operatinggains&losses |
Non-currentassetsare | 237,412.50 | 237,412.50 |
damagedandscrappedforprofit | |||
Including:Fixedassets | 237,412.50 | 237,412.50 | |
Insuranceclaimincome | 4,141,948.49 | 2,494,015.56 | 4,141,948.49 |
Roadpropertyclaimincome | 1,419,966.31 | 1,436,421.01 | 1,419,966.31 |
Other | 22,304.35 | 80,783.48 | 22,304.35 |
Total | 5,821,631.65 | 4,011,220.05 | 5,821,631.65 |
50.Non-Operationexpense
InRMB
Items | Amountofcurrentperiod | Amountofpreviousperiod | Theamountofnon-operatinggains&losses |
Non-currentassetsaredamagedandscrappedforprofit | 252,895.85 | 135,447.06 | 252,895.85 |
Including:Fixedassets | 252,895.85 | 135,447.06 | 252,895.85 |
Roadrehabilitationexpenditure | 2,624,379.66 | 1,567,847.87 | 2,624,379.66 |
Fine | 2,254.33 | 153.62 | 2,254.33 |
Other | 76,129.55 | 107,872.58 | 76,129.55 |
Total | 2,955,659.39 | 1,811,321.13 | 2,955,659.39 |
51.Incometaxexpense
(1)Listsofincometaxexpense
InRMB
Items | Amountofcurrentperiod | Amountofpreviousperiod |
Currentincometaxexpense | 246,703,707.49 | 323,321,325.12 |
Deferredincometaxexpense | 43,536,719.14 | 30,703,740.35 |
Total | 290,240,426.63 | 354,025,065.47 |
(2)Adjustmentprocessofaccountingprofitandincometaxexpense
InRMB
Items | Amountofcurrentperiod |
Total | 1,351,792,598.06 |
Currentincometaxexpenseaccountedbytaxandrelevantregulations | 337,948,149.52 |
Influenceofincometaxbeforeadjustment | 85,070.05 |
Influenceofnontaxableincome | -51,942,863.64 |
Impactofnon-deductiblecosts,expensesandlosses | 4,741,431.37 |
Effectofdeductiblelossesfromusingpreviouslyunrecognizeddeferredincometaxassets | -591,360.67 |
Incometaxexpense | 290,240,426.63 |
52.ItemsofCashflowstatement
(1)Othercashreceivedfrombusinessoperation
InRMB
Items | Amountofcurrentperiod | Amountofpreviousperiod |
Interestincome | 20,528,520.76 | 23,613,918.60 |
Unitcurrentaccount | 46,907,015.63 | 38,551,853.57 |
Total | 67,435,536.39 | 62,165,772.17 |
(2)Othercashpaidrelatedtooperatingactivities
InRMB
Items | Amountofcurrentperiod | Amountofpreviousperiod |
Managementexpense | 14,342,965.21 | 14,914,357.27 |
Unitcurrentaccount | 32,790,555.31 | 10,957,032.13 |
Total | 47,133,520.52 | 25,871,389.40 |
(3).CashreceivablerelatedtootherFinancingactivities
InRMB
Items | Amountofcurrentperiod | Amountofpreviousperiod |
Governmentinfrastructureinvestmentsubsidies | 38,470,400.00 | 97,731,650.00 |
Total | 38,470,400.00 | 97,731,650.00 |
(4)CashpaidrelatedtootherFinancingactivities
InRMB
Items | Amountofcurrentperiod | Amountofpreviousperiod |
Issuancefeeofmedium-termnotes | 1,001,869.75 | 776,869.75 |
Purchaseof21%equityconsiderationofGuanghui | 1,221,839,292.00 | |
Cashpaidfortheleaseliabilities | 5,240,644.14 | 5,157,973.11 |
Total | 6,242,513.89 | 1,227,774,134.86 |
53.SupplementInformationforcashflowstatement
(1)SupplementInformationforcashflowstatement
InRMB
SupplementInformation | Amountofcurrentperiod | Amountofpreviousperiod |
I.Adjustingnetprofittocashflowfromoperatingactivities | ||
Netprofit | 1,061,552,171.43 | 1,199,986,897.75 |
Add:Creditlosspreparation | 2,889,394.16 | |
Depreciationoffixedassets,oilandgasassetsandconsumablebiologicalassets | 479,906,745.78 | 640,158,205.26 |
DepreciationofUserightassets | 4,910,817.45 | 4,917,916.58 |
Amortizationofintangibleassets | 11,410,277.66 | 18,687,606.48 |
AmortizationofLong-termdeferredexpenses | 175,312.50 | |
Lossondisposaloffixedassets,intangibleassetsandotherlong-termdeferredassets | -463,363.89 | |
Fixedassetsscraploss | 15,483.35 | 135,447.06 |
Lossonfairvaluechanges | ||
Financialcost | 123,517,238.10 | 149,343,110.61 |
Lossoninvestment | -162,384,354.53 | -172,050,127.56 |
Decreaseofdeferredincometaxassets | 54,617,177.28 | 43,283,161.23 |
Increasedofdeferredincometaxliabilities | -11,080,458.14 | -12,579,420.88 |
Decreaseofinventories | -321,592.91 | |
Deceaseofoperatingreceivables | -46,196,406.71 | 19,900,483.49 |
IncreasedofoperatingPayable | -72,254,061.48 | -80,544,176.47 |
Creditimpairmentloss | 1,310,999.95 | |
Netcashflowsarisingfromoperatingactivities | 1,443,551,266.30 | 1,815,293,217.25 |
II.Significantinvestmentandfinancingactivitiesthatwithoutcashflows: | ||
Conversionofdebtintocapital | ||
Convertiblecorporatebondsmaturingwithinoneyear | ||
Financingoffixedassetsleased | ||
3.Movementofcashandcashequivalents: | ||
Endingbalanceofcash | 4,042,994,649.07 | 3,566,075,410.42 |
Less:Beginningbalanceofcashequivalents | 2,955,183,190.55 | 2,846,176,803.89 |
Add:Endbalanceofcashequivalents | ||
Less:Beginningbalanceofcashequivalents | ||
Netincreaseofcashandcashequivalent | 1,087,811,458.52 | 719,898,606.53 |
(2)Compositionofcashandcashequivalents
InRMB
Items | Balanceinyear-end | Balanceinyear-Beginning |
Cash | 4,042,994,649.07 | 2,955,183,190.55 |
Ofwhich:Cashinstock | 48,820.81 | 38,214.02 |
Banksavingscouldbeusedatanytime | 3,995,143,572.14 | 2,954,629,744.81 |
Othermonetarycapitalcouldbeusedatanytime | 47,802,256.12 | 515,231.72 |
Balanceofcashandcashequivalentsattheperiodend | 4,042,994,649.07 | 2,955,183,190.55 |
54.Theassetswiththeownershiporuserightrestricted
InRMB
Items | Bookvalueattheendoftheperiod | Restrictedreason |
Monetaryfund | 1,221,200.00 | Landreclamationfundsinthefundescrowaccount |
Total | 1,221,200.00 | -- |
Othernote:
AsofJune30,2022,theCompany'ssubsidiaryJingzhuExpresswayGuangzhuSectionCo.,Ltdborrowed548,360,000.00yuanfromWuyangSub-branchofIndustrialandCommercialBankofChina(including67,670,000.00yuaninnon-currentliabilitiesduewithinoneyearand480,690,000.00yuaninlong-termloans),andprovidedapledgeguaranteeof19.2%oftheproject'stollinterest(therighttocollecttollsforvehiclestravelingontheGuangzhusectionofJingzhuExpresswayandtherevenuegeneratedbyowningsuchright).
VIII.Changesofmergescope
1.ThedisposalofsubsidiaryWhetherthereisasingledisposaloftheinvestmenttosubsidiaryandlostcontrol
√Yes□No
InRMB
Subsidiaryname | Equitydisposalprice | Equitydisposalratio | Equitydisposalmethod | pointoflossofcontrol | Determinationbasisforthepointoflossofcontrol | Thedifferencebetweenthedisposalpriceandtheshareofthesubsidiary'snetassetsattheconsolidatedfinancialstatementlevelcorrespondingtothedisposalinvestment | Percentageofremainingequityatthedateoflossofcontrol | Bookvalueofremainingequityonthedateoflossofcontrol | Fairvalueofremainingequityatthedateoflossofcontrol | Gainorlossfromremeasurementofremainingequityatfairvalue | Determinationmethodandmainassumptionsoffairvalueofremainingequityonthedateoflossofcontrol | Amounttransferredfromothercomprehensiveincomerelatedtoequityinvestmentinatomiccompanytoinvestmentprofitandloss |
GuangdongExpresswayTechnologyInvestmentCo.,Ltd. | 50,623,900.00 | 100.00% | Saleofsharesundercommoncontrol | March29,2022 | Completedtheequitytransfer,thetransferofcontrolright | 13,564,262.33 | 0.00% | 0.00 | 0.00 | 0.00 | 0.00 |
Othernote:
Whethertherearemultipletransactionsstepbystepdisposetheinvestmenttosubsidiaryandlostcontrolinreportingperiod
□Yes√No
IX.Equityinotherentities
1.Equityinsubsidiary
(1)Thestructureoftheenterprisegroup
NameofSubsidiary | MainPlacesofOperation | RegistrationPlace | NatureofBusiness | ShareholdingRatio(%) | ObtainingMethod | |
direct | indirect | |||||
GuangfoExpresswayCo.,Ltd. | Guangzhou | Guangzhou | ExpresswayManagement | 75.00% | Underthesamecontrolbusinesscombination | |
GuanghuiExpresswayCo.,Ltd. | Guangzhou | Guangzhou | ExpresswayManagement | 51.00% | Underthesamecontrolbusinesscombination | |
JingzhuExpresswayGuangzhuSectionCo.,Ltd. | Zhongshan | Guangzhou | ExpresswayManagement | 75.00% | Underthesamecontrolbusinesscombination | |
YuegaoCapitalInvestment(Guangzhou)Co.,Ltd. | Guangzhou | Guangzhou | Investmentmanagement | 100.00% | Investment |
Notes:holdingproportioninsubsidiarydifferentfromvotingproportion:NoneBasisofholdinghalforlessvotingrightsbutstillbeencontrolledinvesteeandholdingmorethanhalfofthevotingrightsnotbeencontrolledinvestee:NoneSignificantstructureentitiesandcontrollingbasisinthescopeofcombination:NoneBasisofdeterminewhethertheCompanyistheagentortheprincipal:None
(2)ImportantNon-wholly-ownedSubsidiary
InRMB
NameofSubsidiary | ShareholdingRatioofMinorityShareholders(%) | ProfitorLossOwnedbytheMinorityShareholdersintheCurrentPeriod | DividendsDistributedtotheMinorityShareholdersintheCurrentPeriod | EquityBalanceoftheMinorityShareholdersintheEndofthePeriod |
GuangfoExpresswayCo.,Ltd. | 25.00% | 9,596,500.78 | 53,112,309.95 | 87,798,897.85 |
GuangdongGuanghuiExpresswayCo.,Ltd. | 49.00% | 229,896,908.16 | 137,399,965.71 | 2,027,908,518.81 |
JingzhuExpresswayGuangzhuSectionCo.,Ltd. | 25.00% | 48,271,910.81 | 126,239,706.53 | 212,707,589.86 |
HoldingproportionofminorityshareholderinsubsidiarydifferentfromvotingproportionNone
(3)Themainfinancialinformationofsignificantnotwhollyownedsubsidiary
InRMB
Name | Year-endbalance | |||||
Currentassets | Non-currentassets | Totalassets | CurrentLiabilities | Non-currentliabilities | Totalliabilities | |
GuangfoExpresswayCo.,Ltd. | 363,399,371.15 | 16,241,271.51 | 379,640,642.66 | 28,445,051.27 | 28,445,051.27 | |
GuangdongGuanghuiExpresswayCo.,Ltd. | 1,574,142,897.11 | 3,105,468,482.93 | 4,679,611,380.04 | 355,809,782.98 | 185,212,783.16 | 541,022,566.14 |
JingzhuExpresswayGuangzhuSectionCo.,Ltd. | 100,405,966.86 | 2,092,651,162.69 | 2,193,057,129.55 | 746,917,820.51 | 595,308,949.65 | 1,342,226,770.16 |
Name
Name | Year-beginningbalance | |||||
Currentassets | Non-currentassets | Totalassets | CurrentLiabilities | Non-currentliabilities | Totalliabilities | |
GuangfoExpresswayCo.,Ltd. | 539,508,987.55 | 17,935,998.96 | 557,444,986.51 | 32,186,158.45 | 32,186,158.45 | |
GuangdongGuanghuiExpresswayCo.,Ltd. | 1,106,203,367.94 | 3,200,915,171.31 | 4,307,118,539.25 | 199,770,257.66 | 195,999,137.99 | 395,769,395.65 |
JingzhuExpresswayGuangzhuSectionCo.,Ltd. | 78,321,084.79 | 2,167,316,422.40 | 2,245,637,507.19 | 455,558,150.91 | 627,377,814.00 | 1,082,935,964.91 |
InRMB
Name | Amountofcurrentperiod | Amountofpreviousperiod | ||||||
Businessincome | Netprofit | TotalComprehensiveincome | Cashflowsfromoperatingactivities | Businessincome | Netprofit | TotalComprehensiveincome | Cashflowsfromoperatingactivities | |
GuangfoExpresswayCo.,Ltd. | 66,566,527.45 | 38,386,003.12 | 38,386,003.12 | 200,857,877.57 | 223,491,338.35 | 125,126,708.37 | 125,126,708.37 | 156,814,439.07 |
GuangdongGuanghuiExpresswayCo.,Ltd. | 893,298,497.64 | 469,177,363.59 | 469,177,363.59 | 591,588,578.50 | 1,004,523,049.04 | 516,820,409.74 | 516,820,409.74 | 680,781,673.26 |
JingzhuExpresswayGuangzhuSectionCo.,Ltd. | 452,938,785.68 | 193,087,643.23 | 193,087,643.23 | 271,398,716.46 | 560,521,671.83 | 266,411,477.01 | 266,411,477.01 | 409,250,398.13 |
Othernote:
(4)SignificantrestrictionsofusingenterprisegroupassetsandpayoffenterprisegroupdebtNone
(5)ProvidefinancialsupportorothersupportforstructureentitiesincorporateintothescopeofconsolidatedfinancialstatementsNone
2.ThetransactionoftheCompanywithitsowner’sequitysharechangedbutstillcontrollingthesubsidiary
(1)SignificantjointventurearrangementorassociatedenterpriseNone
(2)Affectofthetransactionontheminorityequityandowner'sequityattributabletotheparentcompanyNone
3.Equityinjointventurearrangementorassociatedenterprise
(1)Significantjointventurearrangementorassociatedenterprise
Name | Mainoperatingplace | Registrationplace | Businessnature | Proportion | Accountingtreatmentoftheinvestmentofjointventureorassociatedenterprise | |
Directly | Indirectly | |||||
ZhaoqingYuezhaoHighwayCo.,Ltd. | Zhaoqing,Guangdong | Zhaoqing,Guangdong | ExpresswayManagement | 25.00% | Equitymethod | |
ShenzhenHuiyanExpresswayCo.,Ltd. | Shenzhen | Shenzhen | ExpresswayManagement | 33.33% | Equitymethod | |
GuangdongJiangzhongExpresswayCo.,Ltd. | Zhongshan, | Zhongshan, | ExpresswayManagement | 15.00% | Equitymethod | |
GanzhoukangdaExpresswayCo.,Ltd. | Gangzhou | Ganzhou | ExpresswayManagement | 30.00% | Equitymethod | |
GanzhouGankangExpresswayCo.,Ltd. | Gangzhou | Ganzhou | ExpresswayManagement | 30.00% | Equitymethod | |
GuangdongYuepuSmallRefinancingCo.,Ltd | Guangzhou | Guangzhou | Handallkindsofsmallloans | 15.48% | Equitymethod | |
GuangyuanSecuritiesCo.,Ltd. | Hefei | Hefei | Securitybusiness | 2.37% | Equitymethod | |
HunanLianzhiTechnologyCo.,Ltd. | Changsha | Changsha | Researchandexperimentaldevelopment | 10.10% | Equitymethod | |
SPICYuetongQiyuanChipPowerTechnologyCo.,Ltd | Guangzhou | Guangzhou | NewEnergyservice | 5.00% | Equitymethod | |
ShenzhenGarageElectricPileTechnologyCo.,Ltd | Shenzhen | Shenzhen | SoftwareandInformationtechnology | 17.40% | Equitymethod |
Notestoholdingproportionofjointventureorassociatedenterprisedifferentfromvotingproportion:
NoneBasisofholdinglessthan20%ofthevotingrightsbuthasasignificantimpactorholding20%ormorevotingrightsbutdoesnothaveasignificantimpact:
Guangdong,JiangzhongExpresswayCo.,Ltd.,GuangyuanSecuritiesCo.,Ltd.,YuepuSmallRefinancingCo.,Ltd.andHunanLianzhiTechnologyCo.,Ltd.SPICYuetongQiyuanChipPowerTechnologyCo.,Ltd.andShenzhenGarageElectricPileTechnologyCo.,Ltd.holds20%ofthevotingrights,buthasthepowertoparticipateinmakingdecisionsontheirfinancialandoperatingdecisions,andthereforedeemedtobeabletoexertsignificantinfluenceovertheinvestee.
(2)MainfinancialinformationofsignificantjointventureNone
(3)Mainfinancialinformationofsignificantassociatedenterprise
InRMB
Year-endbalance/Amountofcurrentperiod | Year-beginningbalance/Amountofpreviousperiod | |
GuoyuanSecuritiesCo.,Ltd. | GuoyuanSecuritiesCo.,Ltd. | |
Currentassets | ||
Non-currentassets | ||
Totalassets | 131,830,386,370.82 | 114,683,858,604.22 |
Currentliabilities | ||
Non-currentLiabilities | ||
Totalliabilities |
MinorityShareholders’Equity
MinorityShareholders’Equity | ||
Shareholders’equityattributabletoshareholdersoftheparent | 32,225,877,958.60 | 32,259,179,385.22 |
Proratashareofthenetassetscalculated | 764,204,123.51 | 764,993,833.19 |
Adjustmentitems | ||
--Goodwill | 207,095,632.54 | 207,095,632.54 |
--Internaltransactionsdidnotachieveprofits | ||
--Other | ||
Thebookvalueofequityinvestmentsinjointventures | 971,299,756.05 | 972,089,465.73 |
Fairvalueofequityinvestmentofassociatedenterpriseswithopenquotation | 643,661,660.04 | 796,815,881.40 |
Buinsessincme | 2,474,031,036.38 | 2,275,384,578.36 |
Netprofit | 749,499,017.55 | 846,756,168.54 |
Netprofitfromterminatedoperations | ||
Othercomprehensiveincome | -35,288,230.26 | 84,942,800.98 |
Totalcomprehensiveincome | 714,210,787.29 | 931,698,969.52 |
Dividendsreceivedfromassociatesduringtheyear
Dividendsreceivedfromassociatesduringtheyear | 18,626,864.76 | 10,348,258.20 |
(4)Summaryfinancialinformationofinsignificantjointventureorassociatedenterprise
InRMB
Year-endbalance/Amountofcurrentperiod | Year-beginningbalance/Amountofpreviousperiod | |
Jointventure: | ||
Totalamountoftheproratacalculationofthefollowingitems | ||
Associatedenterprise: | ||
Totalbookvalueoftheinvestment | 1,848,830,321.35 | 1,655,041,215.52 |
Totalamountoftheproratacalculationofthefollowing--Netprofitms | ||
-Nitprofit | 82,950,868.66 | 102,343,851.05 |
--Totalcomprehensiveincome | 82,950,868.66 | 102,343,851.05 |
Othernote
(5)NotetothesignificantrestrictionsoftheabilityofjointventureorassociatedenterprisetransferfundstotheCompany
None
(6)TheexcesslossofjointventureorassociatedenterpriseNone
(7)TheunrecognizedcommitmentrelatedtojointventureinvestmentNone
(8)ContingentliabilitiesrelatedtojointventureorassociatedenterpriseinvestmentNone
4.SignificantcommonoperationNone
5.EquityofstructureentitynotincludinginthescopeofconsolidatedfinancialstatementsNone
6.Other
NoneX.RisksRelatedtoFinancialInstrumentsThecompanyhasthemainfinancialinstruments,suchasbankdeposits,receivablesandpayables,investments,loansandsoon.PleaserefertotherelevantdisclosureinNotesforthedetails.Therisksassociatedwiththesefinancialinstrumentsmainlyincludecreditrisk,marketriskandliquidityrisk.Thecompany’smanagementshallmanageandmonitortheserisksandensureaboveriskstobecontrolledwithincertainscope.
ThetargetsandpoliciesofriskmanagementThetargetofriskmanagementistoobtaintheproperbalancebetweentheriskandbenefit,toreducethenegativeimpactthatiscausedbytheriskoftheCompanytothelowestlevel,andtomaximizethebenefitsofshareholdersandotherequityinvestors.Basedonthetargetsofriskmanagement,thebasicstrategyoftheCompany’sriskmanagementistoidentifyandanalyzetheriskswhicharefacedbytheCompany,establishsuitablerisktolerancebaselineandproceedtheriskmanagement,andsuperviseavarietyofriskstimelyandreliably,andcontroltheriskswithinalimitedrange.
1.Marketrisk
(1)ForeignexchangeriskForeignexchangeriskreferstotheriskoflossduetoexchangeratefluctuationsgenerally.OurforeignexchangeriskismainlyrelatedtoHongKongDollar.BesidesannualdistributionofB-shareshareholderdividends,othermajorbusinessactivitiesofourCompanyaresettledinRMB.Duringthereportingperiod,duetotheshortcreditperiodoftheCompany'sincomeandexpenditurerelatedtoforeigncurrency,itwasnotaffectedbyforeignexchangerisk.
(2)InterestrateriskTheCompany'sriskofcashflowchangesinfinancialinstrumentscausedbyinterestratechangesismainlyrelatedtofloatingratebankborrowings.TheCompany'spolicyistomaintainthefloatinginterestrateoftheseborrowings,andatthesametimetoreasonablyreducetheriskofinterestratefluctuationbyshorteningthetermofasingleloanandspecificallyagreeingonprepaymentterms.
(3)OtherpriceriskTheinvestmentsheldbytheCompanyareclassifiedasfinancialassetsmeasuredatfairvalueandwhosechangesareincludedinothercomprehensiveincomeandaremeasuredatfairvalueonthebalancesheetdate.Therefore,theCompanybearstheriskofchangesinthesecuritiesmarket.
2.CreditriskAsofJune30,2022,thelargestcreditriskexposurethatmaycausefinanciallossesoftheCompanymainly
comesfromthelossoffinancialassetsoftheCompanycausedbythefailureoftheotherpartytoperformitsobligations.Inordertoreducecreditrisk,theCompanyonlydealswithrecognizedandreputablecustomers.Inaddition,theCompanyreviewstherecoveryofeachsinglereceivablesoneachbalancesheetdatetoensurethatadequatebaddebtprovisionsaremadeforunrecoverableamounts.Consequently,theCompany'smanagementbelievesthattheCompany'screditriskhasbeengreatlyreduced.TheGroup'sworkingcapitalisdepositedinbankswithhighercreditrating,sothecreditriskofworkingcapitalisrelativelylow.Financialassetsoverdueorimpaired;
(1)Aginganalysisoffinancialassetswithoverdueimpairment:Notexisted
(2)Analysisoffinancialassetsthathavesufferedsingleimpairment:Referto"4,OtherReceivables"inVIIand"10,InvestmentinOtherEquityInstruments"inVIIofthissectionfordetails.
3.LiquidityriskWhenmanagingliquidityrisks,theCompanymaintainssufficientcashandcashequivalentsasdeemedbythemanagementandmonitorthemtomeettheCompany'soperationalneedsandreducetheimpactofcashflowfluctuations.ThemanagementoftheCompanymonitorstheuseofbankloansandensurescompliancewiththeloanagreement.XI.Thedisclosureofthefairvalue
1.Closingfairvalueofassetsandliabilitiescalculatedbyfairvalue
InRMB
Items | Closingfairvalue | |||
Firvaluemeasurementitemsatlevel1 | Firvaluemeasurementitemsatlevel2 | Firvaluemeasurementitemsatlevel3 | Total | |
I.Consistentfairvaluemeasurement | -- | -- | -- | -- |
(I)Tradingfinancialassets | 91,000,000.00 | 91,000,000.00 | ||
(2)Equityinstrumentinvestment | 91,000,000.00 | 91,000,000.00 | ||
(II)Otherequityinstrumentinvestment | 708,117,381.44 | 766,790,940.56 | 1,474,908,322.00 | |
Totalassetscontinuouslymeasuredatfairvalue | 708,117,381.44 | 857,790,940.56 | 1,565,908,322.00 | |
II.Non–persistentmeasure | -- | -- | -- | -- |
2.Marketpricerecognitionbasisforconsistentandinconsistentfairvaluemeasurementitemsatlevel1.Asattheendoftheperiod,thecompanyholdsshares235,254,944sharesofChinaEverbrightBankAccordingtotheclosingpriceofJune30,2022of3.01yuan,thefinalcalculationoffairvaluewas
708,117,381.44yuan.
3.Fairvalueoffinancialassetsandliabilitiesnotmeasuredatfairvalue,Thevaluationtechniquesadoptedandthequalitativeandquantitativeinformationofimportantparametersforcontinuousandnon-continuouslevel2fairvaluemeasurementitems
Items | FairvalueasofJune30,2022 | Valuationtechnology | Unobservableinputvalue |
Unlistedequity | 857,790,940.56 | Hireathirdpartyforevaluationorenjoythe |
investment | shareofthenetbookassetsoftheinvesteebasedontheshareholdingratio |
4.Fairvalueoffinancialassetsandliabilitiesnotmeasuredatfairvalue
TheCompany'sfinancialassetsandliabilitiesmeasuredinamortizedcostmainlyinclude:accountsreceivable,otherreceivables,contractassets,short-termloans,accountspayable,otherpayables,non-currentliabilitiesduewithinoneyear,long-termloans,bondspayableandlong-termpayables.
Thereisnosignificantdifferencebetweenthebookvalueoffinancialassetsandliabilitiesnotmeasuredatfairvalueandthefairvalue.XII.Relatedpartiesandrelated-partytransactions
1.Parentcompanyinformationoftheenterprise
Name | Registeredaddress | Nature | Redistrictedcapital | TheparentcompanyoftheCompany'sshareholdingratio | TheparentcompanyoftheCompany’svoteratio |
GuangdongcommunicationGroupCo.,Ltd | Guangzhou | Equitymanagement,trafficinfrastructureconstructionandrailwayprojectoperation | 26.8billionyuan | 24.56% | 50.12% |
Notes:
GuangdongCommunicationGroupCo.,Ltd.isthelargestshareholderoftheCompany.legalrepresentative:
DengXiaohua.Dateofestablishment:June23,2000.AsofJune30,2022,Registeredcapital:26.8billionyuan.Itisasolelystate-ownedlimitedcompany.Businessscope:equitymanagement,organizationofassetreorganizationandoptimizedallocation,raisingfundsbymeansincludingmortgage,transferofpropertyrightsandjointstocksystemtransformation,projectinvestment,operationandmanagement,trafficinfrastructureconstruction,highwayandrailwayprojectoperationandrelevantindustries,technologicaldevelopment,application,consultationandservices,highwayandrailwaypassengerandcargotransport,shipindustry,relevantoverseasbusinesses;Thevalue-addedcommunicationbusiness.ThefinialcontroloftheCompanywasStateownedassetssupervisionandAdministrationCommissionofGuangdongProvincialPeople'sGovernment.Othernote:
2.SubsidiariesoftheCompanySubsidiariesofthisenterprise,seeIX(1)therightsofotherentity
3.InformationonthejointventuresandassociatedenterprisesoftheCompany
DetailsrefertotheIX-3,InterestsinjointventuresorassociatesInformationonotherjointventureandassociatedenterpriseofoccurringrelatedpartytransactionswiththeCompanyinreportingperiod,orformbalanceduetorelatedpartytransactionsinpreviousperiod:
Name | RelationwiththeCompany |
ShenzhenHuiyanExpresswayCo.,Ltd. | AssociatedenterprisesoftheCompany |
ZhaoqingYuezhaoHighwayCo.,Ltd. | AssociatedenterprisesoftheCompany |
GanzhouKangdaExpresswayCo.,Ltd. | AssociatedenterprisesoftheCompany |
GanzhouGankangExpresswayCo.,Ltd. | AssociatedenterprisesoftheCompany |
GuangdongJiangzhongExpresswayCo.,Ltd. | AssociatedenterprisesoftheCompany |
HunanLiankeTechnologyCo.,Ltd. | AssociatedenterprisesoftheCompany |
4.OtherRelatedparties
Name | RelationwiththeCompany |
GuangdongBodaExpresswayCo.,Ltd. | Fullyownedsubsidiaryoftheparentcompany |
GuangdongChaohuiExpresswayCo.,Ltd. | Fullyownedsubsidiaryoftheparentcompany |
GuangdongEastThinkingManagementTechnologyDevelopmentCo.,Ltd. | Fullyownedsubsidiaryoftheparentcompany |
GuangdongLitongPropertyInvestmentCo.,Ltd. | Fullyownedsubsidiaryoftheparentcompany |
GuangdongExpresswayMediaCo.,Ltd. | Fullyownedsubsidiaryoftheparentcompany |
GuangdongGuangzhuWestLineExpresswayCo.,Ltd. | Fullyownedsubsidiaryoftheparentcompany |
GuangdongHumenBridgeCo.,Ltd. | Fullyownedsubsidiaryoftheparentcompany |
GuangdongHualuTrafficTechnologyCo.,Ltd. | Fullyownedsubsidiaryoftheparentcompany |
GuangdongLitongTechnologyInvestmentCo.,Ltd. | Fullyownedsubsidiaryoftheparentcompany |
GuangdongLitongDevelopmentInvestmentCo.,Ltd. | Fullyownedsubsidiaryoftheparentcompany |
GuangdongUnionElectronServiceInformationtechnologyCo.,ltd. | Fullyownedsubsidiaryoftheparentcompany |
GuangdongLulutongCo.,Ltd. | Fullyownedsubsidiaryoftheparentcompany |
GuangdongLuoyangExpresswayCo.,Ltd. | Fullyownedsubsidiaryoftheparentcompany |
GuangdongProvincialFreewayCo.,Ltd. | Fullyownedsubsidiaryoftheparentcompany |
GuangdongHighwayConstructionCo.,Ltd. | Fullyownedsubsidiaryoftheparentcompany |
GuangdongCommunicationGroupFinanceCo.,Ltd. | Fullyownedsubsidiaryoftheparentcompany |
GuangdongRead&BridgeConstructionDevelopmentCo.,Ltd. | Fullyownedsubsidiaryoftheparentcompany |
GuangdongTongyiExpresswayServiceAreaCo.,Ltd | Fullyownedsubsidiaryoftheparentcompany |
GuangdongXinyueTrafficInvestmentCo.,Ltd. | Fullyownedsubsidiaryoftheparentcompany |
GuangdongYueyunTrafficCo.,Ltd. | Fullyownedsubsidiaryoftheparentcompany |
GuangdongYueyunTrafficRescueCo.,Ltd. | Fullyownedsubsidiaryoftheparentcompany |
GuangshenzhuExpresswayCo.,Ltd. | Fullyownedsubsidiaryoftheparentcompany |
GuangzhouXinyueTrafficTechnologyCo.,Ltd. | Fullyownedsubsidiaryoftheparentcompany |
GuangzhouXinyueAsphaltCo.,Ltd. | Fullyownedsubsidiaryoftheparentcompany |
GuangzhouYueyunTrafficCo.,Ltd. | Fullyownedsubsidiaryoftheparentcompany |
XinyueCo.,Ltd. | Fullyownedsubsidiaryoftheparentcompany |
GuangdongCommunicationPlanning&DesignInstituteCo.,Ltd. | Sharesofparentcompany |
GuangzhongjiangExpresswayProjectManagementDept | Managedbytheparentcompany |
GuangzhouAitesiCommunicationequipmentCo.,Ltd. | Associatedenterprisescontrolledbythesameparentcompany |
GuangdongJingzhuExpresswayGuangzhuNorthSectionCo.,Ltd. | Associatedenterprisescontrolledbythesameparentcompany |
GuangdongFeidaTrafficEngineeringCo.,Ltd. | Associatedenterprisescontrolledbythesameparentcompany |
PolyChangdaEngineeringCo.,Ltd. | Sharesofparentcompany |
GuangdongChangdaRoadConservationCo.,Ltd. | Sharesofparentcompany |
GuangdongRoadNetworkDigitalMediaInformationTechnologyCo.Ltd | Fullyownedsubsidiaryoftheparentcompany |
GuangdongXiangfeiHighwayEngineeringSupervisionCo.,Ltd | Subsidiaryoftheparentcompany |
GuangdongExpresswayTechnologyCo.,Ltd. | Fullyownedsubsidiaryoftheparentcompany |
HunanLianzhiTechnologyCo.,Ltd. | AwhollyownedsubsidiaryoftheCompany |
GuangdongZhujiangRoadbridgeInvestmentCo.,Ltd. | Ithasasignificantimpactonimportantsubsidiaries |
GuangdongXinyueTrafficQingyunExpresswayManagementOffice | Managedbytheparentcompany |
5.Listofrelated-partytransactions
(1)InformationonacquisitionofgoodsandreceptionoflaborserviceAcquisitionofgoodsandreceptionoflaborservice
InRMB
Relatedparties | Contentofrelatedtransaction | Amountofcurrentperiod | Amountofpreviousperiod |
1.Businesscost | |||
GuangdongUnionelectronicservicesco.,Ltd. | Service | 12,021,733.95 | 14,427,549.75 |
BolyChangdaEngineeringCo.,Ltd. | Service | 11,772,757.00 | 4,459,339.00 |
GuangdongFeidaTrafficEngineeringCo.,Ltd. | Mechanicalandelectricaldailymaintenancepayment | 2,003,201.04 | 2,066,264.07 |
GuangdongYueyunTrafficRescueCo.,Ltd. | Rescueservicefee | 494,700.00 | |
GuangdongHumenBridgeCo.,Ltd. | Service | 310,411.02 | |
GuangdongCommunicationPlanning&DesignInstituteCo.,Ltd. | Projectlabourservice | 178,243.00 | |
GuangdongLulutongCo.,Ltd. | Maintenance,Projectfunds | 52,598.00 | |
GuangdongTongyiExpresswayServiceAreaCo.,Ltd | Service | 40,808.70 | |
GuangdongJingzhuExpresswayGuangzhuNorthSectionCo.,Ltd. | Service | 8,551.20 | |
GuangzhouAitesiCommunicationEquipmentCo.,Ltd. | Maintenanceofchargingfacilities | 2,400.00 | |
GuangdongEastThinkingManagementTechnologyDevelopmentCo.,Ltd. | Service | 30,000.00 | |
Subtotal | 26,885,403.91 | 20,983,152.82 | |
2.Financialcost | |||
GuangdongCommunicationGroupFinanceCo.,Ltd. | Depositinterestincome | -24,475,843.25 | -15,349,444.97 |
GuangdongCommunicationGroupFinanceCo.,Ltd. | BorrowingInterestexpresses | 5,112,347.24 | 3,167,500.00 |
GuangdongCommunicationGroupFinanceCo.,Ltd. | Commissioncharge | 920.00 | |
GuangdongJiangzhongExpresswayCo.,Ltd. | Interest | 27,405.00 | |
Subtotal | -19,362,576.01 | -12,154,539.97 | |
3.Administrativeexpenses | |||
GuangdongUnionelectronicservicesco.,Ltd. | Informationcostandmaintenancefee | 288,500.00 | |
GuangdongEastThinkingManagementTechnologyDevelopmentCo.,Ltd. | OAMaintenance,Service | 10,000.00 | 60,000.00 |
Subtotal | 298,500.00 | 60,000.00 | |
4.Non-Operatingexpensess | |||
BolyChangdaEngineeringCo.,Ltd. | Damfordamagedrepairofcivilfacilities | 1,009,397.00 | |
Subtotal | 1,009,397.00 | ||
5.Constructioninprocess | |||
GuangdongCommunicationPlanning&DesignInstituteCo.,Ltd. | Purchaseassets | 5,973,981.00 | 7,455,615.00 |
PolyChangdaEngineeringCo.,Ltd. | Purchaseassets | 26,630,344.47 | 141,402,869.60 |
GuangdongXinyueTrafficInvestmentCo.,Ltd. | Purchaseassets | 6,127,813.56 | 584,557.32 |
GuangdongHighwayConstructionCo.,Ltd. | Purchaseassets | 9,089,990.48 | |
GuangdongHualuTrafficTechnologyCo.,Ltd. | Purchaseassets | 907,894.50 | |
GuangdongXiangfeiHighwayEngineeringSupervisionCo.,Ltd | Purchaseassets | 208,829.00 | |
Subtotal | 48,730,024.01 | 149,651,870.92 | |
6.Fixedassets | |||
GuangdongExpresswayTechnologyInvestmentCo.,Ltd. | Purchaseassets | 82,895.00 | |
GuangdongCommunicationPlanning&DesignInstituteCo.,Ltd. | Purchaseassets | 483,543.00 | |
Subtotal | 566,438.00 | ||
7.Othercurrentassets | |||
GuangdongFeidaTrafficEngineeringCo.,Ltd. | Contractacquisitioncost | 182,274.01 | |
Subtotal | 182,274.01 |
Relatedtransactionsonsalegoodsandreceivingservices
InRMB
Relatedparty | Content | Amountofcurrentperiod | Amountofpreviousperiod |
1.Businessincome | |||
JingzhuExpresswayGuangzhuNorthsectionCo.,Ltd. | Commissionmanagementfee | 10,603,632.04 | 9,622,924.52 |
GuangdongProvincialFreewayCo.,Ltd. | Projectfund | 886,950.00 | 1,773,900.00 |
GanzhouGankangExpresswayCo.,Ltd. | Salariesofexpatriatestaff | 525,660.83 | 450,262.64 |
ZhaoqingYuezhaoHighwayCo.,Ltd. | Salariesofexpatriatestaff | 512,977.97 | 514,314.09 |
GuangdongTongyiExpresswayServiceAreaCo.,Ltd | waterandelectricity | 486,716.96 | 577,014.73 |
GuangdongTrafficDevelopmentCo.,Ltd. | electricity | 336,290.97 | |
ShenzhenHuiyanExpresswayCo.,Ltd. | Salariesofexpatriatestaff | 260,849.89 | 254,219.25 |
GanzhouKangdaExpresswayCo.,Ltd. | Salariesofexpatriatestaff | 138,547.02 | 162,691.45 |
GuangdongJiangzhongExpresswayCo.,Ltd. | Salariesofexpatriatestaff | 176,119.41 | 81,447.20 |
GuangdongLuoyangExpresswayCo.,Ltd. | Test | 58,490.57 | |
PolyChangdaEngineeringCo.,Ltd. | Biddingdocumentsincome,waterandelectricitybills | 1,000.00 | 103,082.55 |
GuangdongFeidaTrafficEngineeringCo.,Ltd | CPCcardsalesrevenue | 56,991.15 | |
GuangdongXinyueTrafficInvestmentCo.,Ltd. | Project | 52,187.72 | |
GuangdongExpresswayMediaCo.,Ltd. | Waterandelectricity | 49,750.19 | |
GuangdongYueyunTrafficRescueCo.,Ltd. | Waterandelectricity | 18,905.54 | |
Subtotal | 13,987,235.66 | 13,717,691.03 |
(2)InformationofrelatedleaseTheCompanywaslessor:
InRMB
Nameoflessee | Categoryofleaseassets | Theleaseincomeconfirmedinthisyear | Theleaseincomeconfirmedinlastyear |
GuangdongExpresswayMediaCo.,Ltd. | Advertisinglease | 1,379,412.57 | 842,169.89 |
PolyChangdaEngineeringCo.,Ltd. | Rentalincome | 555,557.14 | |
GuangdongLitongTechnologyInvestmentCo.,Ltd. | CommunicationPiping | 522,034.27 | 819,439.23 |
GuangdongTrafficDevelopmentCo.,Ltd. | Rentalincomeofchargingpile | 149,850.34 | |
GuangdongRoadNeworkDigitalMediaInformationTechnologyCo., | Advertising | 2,777.78 |
Ltd. | |||
Total | 2,609,632.10 | 1,661,609.12 |
-Thecompanywaslessee:
InRMB
Lessor | Categoryofleasedassets | Rentalchargesforshort-termandlow-valueassets(ifany) | Variableleasepaymentsnotincludedinleaseliabilitiesmeasurement(ifany) | Rentpaid | Interestexpensesonleaseliabilitiesassumed | Increaseduserightassets | |||||
Amountofcurrentperiod | Amountofpreviousperiod | Amountofcurrentperiod | Amountofpreviousperiod | Amountofcurrentperiod | Amountofpreviousperiod | Amountofcurrentperiod | Amountofpreviousperiod | Amountofcurrentperiod | Amountofpreviousperiod | ||
GuangdongLitongDecelopmentInvestmentCo.,Ltd | Officespace | 4,604,363.82 | 4,604,363.83 | ||||||||
JingzhuExpresswayGuangzhuNorthsectionCo.,Ltd. | Activityplace | 53,508.72 | 53,508.72 | ||||||||
GuangdongLitongPropertyDevelopmentCo.,Ltd. | Officespace | 27,586.00 | 50,321.37 | 27,586.00 | 50,321.37 | ||||||
Total | 27,586.00 | 50,321.37 | 4,685,458.54 | 4,708,193.92 |
(3)Rewardsforthekeymanagementpersonnel
InRMB
Items | Amountofcurrentperiod | Amountofpreviousperiod |
Rewardsforthekeymanagementpersonnel | 2,834,900.00 | 2,935,600.00 |
(4)Othersignificantrelated-partytransactions
√Applicable□Notapplicable
(1)Depositbusiness
Relatedparty | Relationship | Maximumdailydepositlimit(Tenthousandyuan) | Depositinterestraterange | Beginningbalance(Tenthousandyuan) | Theamountofthisperiod | Endingbalance(Tenthousandyuan) | |
Totalamountforthisperiod(Tenthousandyuan) | Totalamountiswithdrawnforthisperiod(Tenthousandyuan) | ||||||
GuangdongCommunicationsGroupFinanceCo.,Ltd | Controlledbythesameparentcompany | 300,000.00 | 0.35%-2.85% | 152,100.35 | 113,736.70 | 265,837.05 |
(2)Loanbusiness
Relatedparty | Relationship | Loanlimit(Tenthousandyuan) | Loantinterestraterange | Beginningbalance(Tenthousandyuan) | Theamountofthisperiod | Endingbalance(Tenthousandyuan) | |
Totalloanamountofthecurrent(Tenthousandyuan) | Totalrepaymentamountofthecurrentperiod(Tenthousandyuan) | ||||||
GuangdongCommunicationsGroupFinanceCo.,Ltd | Controlledbythesameparentcompany | 400,000.00 | 3.00%-3.75% | 20,000.00 | 32,000.00 | 100.00 | 51,900.00 |
(3)Creditextensionorotherfinancialservices
Relatedparty | Relationship | Businesstype | Totalamount(10,000) | Actualamountincurred(10,000) |
GuangdongCommunicationsGroupFinanceCo.,Ltd | Controlledbythesameparentcompany | Creditextension | 220,000.00 | 51,900.00 |
TheCompanyrespectivelysignedthe"CashManagementBusinessCooperationAgreement"withGuangdongCommunicationsGroupFinanceCo.,LtdandtheGuangdongBranchofIndustrialandCommercialBankofChinaonDecember25,2017;andsignedthe"CashManagementBusinessCooperationAgreement"withGuangdongCommunicationsGroupFinanceCo.,LtdandtheGuangdongBranchofIndustrialandCommercialBankofChinaonDecember22,2017respectively,joinedthecashpoolofGuangdongCommunicationsGroupFinanceCo.,Ltd.GuangdongGuanghuiExpresswayCo.,Ltdrespectivelysignedthe"CashManagementBusinessCooperationAgreement"withGuangdongCommunicationsGroupFinanceCo.,LtdandAgriculturalBankofChinaCo.,LtdGuangdongBranchonMay19,2020,joinedthecashpoolofGuangdongCommunicationsGroupFinanceCo.,Ltd.
(5)Assettransferanddebtrestructuringofrelatedparties
Relatedparty | Content | Amountofcurrentperiod | Amountofpreviousperiod |
GuangdongLitongTechnologyI\investmentCo.,Ltd. | Sellequityinvestments | 50,623,900.00 |
Upondeliberationandapprovalatthe27thmeetingoftheninthboardofdirectorsofthecompany,thecompanytransferred100%equityofitswholly-ownedsubsidiary,GuandongExpresswayTechnologyInvestmentCo.,Ltd.,toGuandongLitongTechnologyInvestmentCo.,Ltd.
(6)Otherrelated-partytransactions
-OnJune15,2016,Thecompany’s29thmeeting(Provisional)oftheseventhboardofdirectorswasconvened.TheProposalonEntrustmentofConstructionManagementoftheRenovationandExpansionProjectofSanbao-to-ShuikouSectionofShengyang-to-HaikouNationalExpresswaywasdeliberatedinthemeeting,agreedthatGuangdongProvincialFokaiExpresswayCo.,LtdentrustsGuangdongProvincialHighwayConstructionCo.,LtdwiththeconstructionmanagementoftherenovationandexpansionprojectofSanbao-to-ShuikouSectionofShengyang-to-HaikouNationalExpressway,andhandlingtherelatedmattersoftheentrustmentoftheconstructionmanagement.
OnMarch25,2021,theSixteenthMeetingoftheNinthBoardofDirectorsoftheCompanyheldandreviewedtheProposalontheCompany'sEstimatedDailyRelatedPartyTransactionsin2021.ItisestimatedthatthedailyrelatedpartytransactionsincludetheAgreementontheEntrustedManagementofthePreliminaryWorkoftheReconstructionandExpansionProjectofNansha-ZhuhaiSectionofGuangzhou-MacaoExpresswaysignedbyBeijing-ZhuhaiExpresswayGuangzhou-ZhuhaiSectionCo.,Ltd.andGuangdongHighwayConstructionCo.,Ltd.,inwhichthelatterisresponsibleforthemainmanagementresponsibilitiesandallthepreliminaryworkbeforetheapprovalofthereconstructionandexpansionproject.
6.Receivablesandpayablesofrelatedparties
(1)Receivables
InRMB
Name | Relatedparty | Amountatyearend | Amountatyearbeginning | ||
BalanceofBook | BaddebtProvision | BalanceofBook | BaddebtProvision | ||
Contractassets | GuangdongXinyueTrafficInvestmentCo.,Ltd. | 113,642.50 | |||
Contractassets | GuangdongFeidaTrafficEngineeringCo.,Ltd. | 48,230.00 | |||
Contractassets | GuangdongJiangzhongExpresswayCo.,Ltd. | 8,412.00 | |||
Contractassets | GuangdongNanyueTrafficQingyunExpresswayManagementCenter | 6,900.00 | |||
Total | 177,184.50 | ||||
Accountreceivable | GuangdongUnionelectronServiceCo.,Ltd. | 74,737,143.16 | 78,368,502.10 | ||
Accountreceivable | GuangdongHumenBridgeCo., | 20,346,943.38 | 2,083,918.33 |
Ltd. | ||||
Accountreceivable | JingzhuExpresswayGuangzhuNorthSectionCo.,Ltd. | 5,484,999.99 | 7,783,650.00 | |
Accountreceivable | GuangdongLitongTechnologyInvestmentCo.,Ltd. | 533,136.00 | 338,298.13 | |
Accountreceivable | PolyChangdaEngineeringCo.,Ltd. | 503,879.00 | 265,054.16 | |
Accountreceivable | GuangdongFeidaTrafficEngineeringCo.,Ltd. | 5,531,000.00 | ||
Accountreceivable | GuangdongExpresswayMediaCo.,Ltd. | 1,854,769.00 | ||
Accountreceivable | GuangdongProvincialFreewayCo.,Ltd. | 203,632.00 | ||
Accountreceivable | GuangdongXinyueTrafficInvestmentCo.,Ltd. | 94,301.60 | ||
Accountreceivable | GuangdongRoadConstructionDevelopmentCo.,Ltd. | 54,256.00 | ||
Accountreceivable | ShenzhenHuiyanExpresswayCo.,Ltd. | 51,000.00 | ||
Accountreceivable | GuangdongRoadBridgeConstructionDevelopmentCo.,Ltd. | 29,025.15 | ||
Accountreceivable | GuangzhenzhuExpresswayCo.,ltd. | 18,192.00 | ||
Accountreceivable | GuangdongBodaExpresswayCo.,Ltd. | 4,530.99 | ||
Total | 101,606,101.53 | 96,680,129.46 | ||
Advancedpayment | ZhaoqingYuezhaoHighwayCo.,Ltd. | 216,750.00 | ||
Advancedpayment | GuangdongLulutongCo.,Ltd. | 1,775,852.40 | ||
Total | 1,775,852.40 | 216,750.00 | ||
OtherAccountreceivable | GuangdongLitongDevelopmentInvestmentCo.,Ltd. | 1,653,447.36 | 1,653,447.36 | |
OtherAccountreceivable | GuangdongProvincialFreewayCo.,Ltd. | 463,491.88 | 463,491.88 | |
OtherAccountreceivable | GuangdongTrafficDevelopmentCo.,Ltd. | 380,008.80 | ||
OtherAccountreceivable | GuangdongExpresswayTechnologyInvestmentCo.,Ltd. | 366,334.32 | ||
OtherAccountreceivable | GuangdongExpresswayMediaCo.,Ltd. | 295,499.08 | 649,386.62 | |
OtherAccountreceivable | GuangdongUnionelectronServiceCo.,Ltd. | 50,000.00 | 50,000.00 | |
OtherAccountreceivable | GuangdongLitongPropertyDevelpmentCo.,Ltd. | 16,268.00 | 30,004.00 | |
OtherAccountreceivable | ZhaoqingYuezhaoHighwayCo.,Ltd. | 350,000.00 | ||
Total | 3,225,049.44 | 3,196,329.86 | ||
Non-currentassetsduewithinoneyear | GuangdongCommunicationGroupFinanceCo.,ltd. | 3,010,904.18 | 2,731,229.21 | |
Total | 3,010,904.18 | 2,731,229.21 | ||
OtherNon-CurrentAssets | GuangdongCommunicationGroupFinanceCo.,ltd. | 13,368,083.33 | ||
OtherNon-CurrentAssets | GuangdongCommunicationPlanning&DesignInstituteCo.,Ltd. | 2,929,687.00 | ||
OtherNon-Current | GuangdongTrafficDevelopment | 333,398.00 | 333,398.00 |
Assets | Co.,Ltd. | |||
OtherNon-CurrentAssets | GuangdongRoadConstructionCo.,Ltd. | 7,089,990.48 | ||
Total | 16,631,168.33 | 7,423,388.48 |
(2)Payables
InRMB
Name | Relatedparty | Amountatyearend | Amountatyearbeginning |
Short-termloan | GuangdongCommunicationGroupFinanceCo.,ltd. | 320,266,666.67 | |
Total | 320,266,666.67 | ||
Accountpayable | GuangzhongjiangExpresswayProjectManagementDept | 17,466,700.00 | 28,000,000.00 |
Accountpayable | PolyChangdaEngineeringCo.,Ltd. | 10,842,016.30 | 29,736,553.34 |
Accountpayable | GuangdongExpresswayTechnologyInvestmentCo.,Ltd. | 6,567,531.19 | |
Accountpayable | GuangdongFeidaTrafficEngineeringCo.,Ltd. | 2,919,499.00 | 5,035,975.88 |
Accountpayable | GuangdongHualuTrafficTechnologyCo.,Ltd. | 2,556,180.04 | 4,960,992.02 |
Accountpayable | GuangdongUnionElectronServiceCo.,Ltd. | 2,500,322.97 | 50,286.78 |
Accountpayable | GuangdongXinyueTrafficInvestmentCo.,Ltd | 1,630,179.71 | 10,405,248.06 |
Accountpayable | GuangdongProvincialFreewayCo.,Ltd. | 1,245,443.50 | 1,245,443.50 |
Accountpayable | HunanLianzhiTechnologyCo.,Ltd. | 850,700.00 | 850,700.00 |
Accountpayable | GuangdongCommunicationPlanning&DesignInstituteCo.,Ltd. | 585,379.10 | 1,759,707.90 |
Accountpayable | GuangdongYueyunTrafficRescueCo.,Ltd. | 360,741.00 | |
Accountpayable | GuangdongLitongTechnologyInvestmentCo.,Ltd. | 336,789.95 | 1,291,067.95 |
Accountpayable | GuangdongChangdaRoadMaintenanceCo.Ltd. | 309,101.00 | 309,101.00 |
Accountpayable | GuangdongEastThinkingManagementTechnologyDevelopmentCo.,Ltd. | 90,630.00 | 2,331,700.01 |
Accountpayable | GuangzhouXinyueAsphaltCo.,Ltd. | 46,779.00 | 2,773,825.00 |
Accountpayable | GuangzhouAitesiCommunicationEquipmentCo.,Ltd. | 25,194.00 | 2,547,594.00 |
Accountpayable | GuangdongLulutongCo.,Ltd. | 13,971.40 | 2,525,256.06 |
Accountpayable | GuangdongHumenBridgeCo.,Ltd. | 2,596,817.45 | |
Accountpayable | GuangdongYueyunTrafficCo.,Ltd. | 168,277.20 | |
Total | 48,347,158.16 | 96,588,546.15 | |
Advancereceived | GuangdongUnionelectronicservicesco.,Ltd. | 1,845,607.86 | |
Total | 1,845,607.86 | ||
Dividendpayable | GuangdongCommunicationGroupCo.,ltd | 292,686,723.60 | |
Dividendpayable | GuangdongHighwayConstructionCo.,Ltd. | 265,805,261.40 | |
Dividendpayable | GuangdongProvincialFreewayCo.,Ltd. | 63,174,369.87 | |
Dividendpayable | GuangdongZhujiangRoadHighwayInvestmentCo.,Ltd. | 60,000,000.00 | |
Dividendpayable | XinyueCo.,Ltd. | 7,488,112.93 |
Dividendpayable | GuangdongTrafficDevelopmentCo.,Ltd. | 1,214,390.70 | |
Total | 690,368,858.50 | ||
OtherPayableaccount | PolyChangdaEngineeringCo.,Ltd. | 20,742,924.48 | 17,126,203.40 |
OtherPayableaccount | GuangdongXinyueTrafficInvestmentCo.,Ltd. | 4,198,077.88 | 4,272,693.60 |
OtherPayableaccount | GuangdongExpresswayTechnologyInvestmentCo.,Ltd. | 2,541,116.00 | |
OtherPayableaccount | GuangdongHighwayConstructionCo.,Ltd. | 2,013,409.60 | 40,459.66 |
OtherPayableaccount | GuangdongHualuTrafficTechnologyCo.,Ltd. | 1,959,227.53 | 2,084,177.53 |
OtherPayableaccount | GuangdongFeidaTrafficEngineeringCo.,Ltd. | 1,515,652.65 | 1,628,931.87 |
OtherPayableaccount | GuangdongChangdaRoadMaintenanceCo.Ltd. | 1,630,765.00 | 1,630,765.00 |
OtherPayableaccount | GuangdongXinyueTrafficInvestmentCo.,Ltd. | 1,380,379.20 | 1,380,379.20 |
OtherPayableaccount | GuangdongUnionElectronServiceCo.,Ltd. | 1,134,574.32 | |
OtherPayableaccount | GuangdongLulutongCo.,Ltd. | 1,127,575.62 | 1,127,575.62 |
OtherPayableaccount | GuangzhouXinyueAsphaltCo.,Ltd. | 1,054,919.00 | 1,054,919.00 |
OtherPayableaccount | GuangzhongjiangExpresswayProjectManagementDept | 200,000.00 | 200,000.00 |
OtherPayableaccount | GuangdongCommunicationPlanning&DesignInstituteCo.,Ltd. | 120,422.00 | 120,422.00 |
OtherPayableaccount | GuangdongEastThinkingManagementTechnologyDevelopmentCo.,Ltd. | 171,899.29 | 191,674.29 |
OtherPayableaccount | GuangdongTongyiExpresswayServiceAreaCo.,Ltd. | 120,000.00 | 120,000.00 |
OtherPayableaccount | GuangdongLitongTechnologyInvestmentCo.,Ltd. | 99,217.00 | 135,772.00 |
OtherPayableaccount | GuangdongExpresswayMediaCo.,Ltd. | 50,000.00 | 50,000.00 |
OtherPayableaccount | GuangdongYueyunTrafficRescueCo.Ltd. | 2,900.00 | 2,900.00 |
Total | 40,063,059.57 | 31,166,873.17 | |
Contractliabilities | GuangdongFeidaTrafficEngineeringCo.,Ltd. | 22,000.00 | |
Total | 22,000.00 | ||
Non-currentliabilitiesdue1year | GuangdongLitongRealestateInvestmentCo.,Ltd. | 9,733,189.08 | 11,862,198.24 |
Non-currentliabilitiesdue1year | GuangdongCommunicationGroupFinanceCo.,ltd. | 2,196,236.13 | 2,229,166.68 |
Non-currentliabilitiesdue1year | ZhaoqingYuezhaoHighwayCo.,Ltd. | 111,862.55 | |
Total | 11,929,425.21 | 14,203,227.47 | |
LeaseLiabilities | GuangdongLitongDevelopmentInvestmentCo.,Ltd. | 2,445,724.58 | |
Total | 2,445,724.58 | ||
Long-termloans | GuangdongCommunicationGroupFinanceCo.,ltd. | 197,000,000.00 | 198,000,000.00 |
Total | 197,000,000.00 | 198,000,000.00 |
7.RelatedpartycommitmentNoneXIII.Stockpayment
1.TheStockpaymentoverallsituation
□Applicable√Notapplicable
2.TheStockpaymentsettledbyequity
□Applicable√Notapplicable
3.TheStockpaymentsettledbycash
□Applicable√Notapplicable
4.ModificationandterminationofthestockpaymentNone
5.OtherNoneXIV.Commitments
1.SignificantcommitmentsSignificantcommitmentsatbalancesheetdateNone
2.Contingency
(1)SignificantcontingencyatbalancesheetdateAsofJune30,2022,theCompanydidnotneedtodiscloseimportantcommitments.
3.Contingency
(1)SignificantcontingencyatbalancesheetdateAsofJune30,2022,theCompanydidnotneedtodiscloseimportantcommitments.XV.Eventsafterbalancesheetdate
1.NotesofothersignificanteventsNoneXVI.Othersignificantevents
1.SegmentinformationThecompany'sbusinessfortheGuangfoExpressway,theFokaiExpressway,GuanghuiExpresswayandJingzhuExpresswayGuangzhuSectiontollcollectionandmaintenancework,thetechnologyindustryandprovideinvestmentadvice,noothernatureofthebusiness,noreportablesegment.
2.GovernmentSubsidy
(1)Governmentsubsidiesincludedindeferredrevenuearesubsequentlymeasuredbythetotalamountmethod
InRMB
Subsidyitem | Category | Openingbalance | Newsubsidyamountincurrentperiod | Thecarry-overincurrentperiodisincludedinprofitandlossamount | Otherchanges | Closingbalance | Presentationitemscarriedoverintoprofitorlossinthecurrentperiod | Asset-related/revenue-related |
Cancelthespecialsubsidyfortheexpresswayprovincialtollstationproject | Financialappropriation | 30,978,093.11 | 5,023,474.62 | 25,954,618.49 | Otherincome | Assetsrelated |
(2)Governmentsubsidiesincludedincurrentprofitsandlossesusingthetotalamountmethod
InRMB
Subsidyitem | Category | Amountincludedinprofitorlossinthecurrentperiod | Presentationitemsincludedinprofitorlossinthecurrentperiod | Asset-related/revenue-related |
Subsidyforpoststabilization | Financialappropriation | 1,250,935.46 | Otherincome | Incomerelated |
Workwithtraininginsteadoftrainingsubsidies | Financialappropriation | 1,074,875.00 | Otherincome | Incomerelated |
3.Otherimportanttransactionsandeventshaveanimpactoninvestorsdecision-making
(1)TheCompany'splantopurchase21%equityofGuangdongGuanghuiExpresswayCo.,Ltd.(hereinafterreferredtoas"Guanghui")heldbyGuangdongExpresswayCo.,Ltd.(hereinafterreferredtoas"GuangdongExpressway")bypaymentincashandrelatedmattershavebeenadoptedbytheresolutionofthethirdextraordinarygeneralmeetingofshareholdersin2020.AccordingtotheProfitCompensationAgreementsignedbyGuangdongExpresswayandtheCompany,itisagreedthatGuangdongExpresswayshallundertakethecompensationobligationwhentheactualnetprofitofGuanghuiislessthanthepredictednetprofitwithinthecompensationperiod.Thecompensationperiodistheyearwhenthetransactioniscompletedandthenexttwoyearsthereafter,namely2020,2021and2022.AfternegotiationbetweentheCompanyandGuangdongExpressway,thepredictednetprofitofGuanghuiafterdeductingnon-recurringgainsandlossesin2020,2021and2022isRMB652,477,500,RMB1,112,587,300andRMB1,234,200,900respectively.Withinthecompensationperiod,iftheaccumulatedrealizednetprofitattheendofanyfiscalyearofGuanghuidoesnotreachtheaccumulatedpredictednetprofit,GuangdongExpresswaywillcompensatethecompanyincash,andthespecificcompensationamountpaidbyGuangdongExpresswayinthatyearwillbecalculatedanddeterminedaccordingtothefollowingformula:currentcompensationamountpromisedforperformance=(accumulatedpredictednetprofitasoftheendofthecurrentperiod-accumulatedrealizednetprofitasoftheendofthecurrentperiod)÷sumofpredictednetprofitsofeachyearwithinthecompensationperiod×transactionpriceoftheunderlyingassets-accumulatedcompensatedamountofGuangdongExpressway.WhenthecompensationamountcalculatedineachyearislessthantheRMB0,thevalueshallbetakenasRMB0,andthecompensatedamountshallnotbereversed.
ThenetprofitofGuangzhou-HuizhouCompany(excludingnon-recurringgainsandlosses)in2020wasRMB769,232,600,RMB116,755,100morethanthepromisedamount;thenetprofitofGuangzhou-HuizhouCompany(excludingnon-recurringgainsandlosses)in2021wasRMB1,105,444,400,RMB7,142,900lessthanthepromisedamount;bytheendof2021,theaccumulatednetprofit(excludingnon-recurringgainsandlosses)wasRMB1,874,677,000,RMB109,612,200morethanthepromisedamount.TheCompanyintendstotransfer100%equityofGuangdongExpresswayTechnologyInvestmentCo.,Ltd.toGuangdongLeatopTechnologyInvestmentCo.,Ltd.,andthetransaction-relatedworkisbeingcarriedoutinanorderlymanner.
XVII..Notesofmainitemsinfinancialreportsofparentcompany
1.Accountreceivable
(1).Classificationaccountreceivables.
InRMB
Category | Amountinyear-end | BalanceYear-beginning | ||||||||
BookBalance | Baddebtprovision | Bookvalue | BookBalance | Baddebtprovision | Bookvalue | |||||
Amount | Proportion(%) | Amount | Proportion(%) | Amount | Proportion(%) | Amount | Proportion(%) | |||
Accrualofbaddebtprovisionbyportfolio | 23,382,037.78 | 100.00% | 23,382,037.78 | 24,208,692.49 | 100.00% | 24,208,692.49 | ||||
Total | 23,382,037.78 | 100.00% | 23,382,037.78 | 24,208,692.49 | 100.00% | 24,208,692.49 |
Accrualofbaddebtprovisionbysingleitem:None
Accountsreceivableswithbaddebtprovisionarerecognisedbyportfoliobyage
InRMB
Aging | Balanceinyear-end | ||
Accountreceivable | Baddebtprovision | Expectedcreditlossrate(%) | |
Within1year | 23,382,037.78 | ||
Total | 23,382,037.78 |
Wherethecurrentbaddebtsbackorrecoversignificantamounts:None
(2)Accountsreceivablewithdraw,reversedorcollectedduringthereportingperiodNone
(3)Thecurrentaccountsreceivablewrite-offssituationNone
(4)Theendingbalanceofotherreceivablesowedbytheimputationofthetopfiveparties
InRMB
Name | Amount | Proportion(%) | Baddebtprovision |
GuangdongUnionElectronicServicesCo.,Ltd. | 23,382,037.78 | 100.00% | |
Total | 23,382,037.78 | 100.00% |
2.Otheraccountsreceivable
InRMB
Items | Balanceinyear-end | BalanceYear-beginning |
Dividendreceivable | 103,205,472.90 | 1,205,472.90 |
Otherreceivable | 6,722,102.13 | 5,680,509.70 |
Total | 109,927,575.03 | 6,885,982.60 |
(1)Interestreceivable:None
(2)Dividendreceivable
1)Dividendreceivable
InRMB
Items | Balanceinyear-end | BalanceYear-beginning |
GuangdongRadioandTelevisionNetworksinvestmentNo.1Limitedpartnershipenterprise | 1,205,472.90 | 1,205,472.90 |
GuangdongGuanghuiExpresswayCo.,Ltd. | 102,000,000.00 | |
Total | 103,205,472.90 | 1,205,472.90 |
2)Significantdividendreceivableagedover1year
InRMB
Items | Balanceinyear-end | Aging | Reasonsfornon-recovery | Whetherornottheimpairmentandthebasisforitsdetermination |
GuangdongRadioandTelevisionNetworksinvestmentNo.1Limitedpartnershipenterprise | 1,205,472.90 | 3-4years | Thepartnershipagreementexpiresandcanberecoveredaftertheextensionproceduresarecompleted | No,itcanberecoveredinthefuture |
Total | 1,205,472.90 |
(3)Otheraccountsreceivable
1)Otheraccountsreceivableclassifiedbythenatureofaccounts
InRMB
Category | Balanceinyear-end | BalanceYear-beginning | ||||||||
Bookbalance | Baddebtprovision | Bookvalue | Bookbalance | Baddebtprovision | Bookvalue | |||||
Amount | Proportion(%) | Amount | Proportion(%) | Amount | Proportion(%) | Amount | Proportion(%) | |||
Otherreceivablesforindividualbaddebtprovision | 30,844,110.43 | 82.11% | 30,844,110.43 | 100.00% | 30,844,110.43 | 84.45% | 30,844,110.43 | 100.00% | ||
Otherreceivablesforbaddebtprovisionaccordingtothecombinationofcreditriskcharacteristics | 6,722,102.13 | 17.89% | 6,722,102.13 | 5,680,509.70 | 15.55% | 5,680,509.70 | ||||
Total | 37,566,212.56 | 30,844,110.43 | 6,722,102.13 | 36,524,620.13 | 30,844,110.43 | / | 5,680,509.70 |
Accrualofbaddebtprovisionbysingle:
Closingbookbalance | ||||
BadDebtReserves | Bookbalance | Baddebtprovision | Expectedcreditlossrate(%) | Reason |
KunlunSecuritiesCo.,Ltd | 30,844,110.43 | 30,844,110.43 | 100.00% | Baddebtswerewithdrawninfullinbankruptcy |
Total | 30,844,110.43 | 30,844,110.43 |
Intheportfolio,Disclosurebyaging
InRMB
Aging | Balanceinyear-end | ||
Otherreceivable | Baddebtprovision | Expectedcreditlossrate(%) | |
Within1year | 1,938,165.80 | ||
Total | 1,938,165.80 |
Intheportfolio,otherreceivableswithbaddebtprovisionbyothermethods:
Name | Balanceinyear-end | BalanceYear-beginning |
Depositmoneyandqualityguaranteefundcombination | 2,217,540.36 | 2,102,176.36 |
Other | 2,566,395.97 | 2,615,033.34 |
Subtotal | 4,783,936.33 | 4,717,209.70 |
Less:Baddebtprovision | ||
Total | 4,783,936.33 | 4,717,209.70 |
2)Thewithdrawalamountofthebaddebtprovision:
InRMB
BadDebtReserves | Stage1 | Stage2 | Stage3 | Total |
Expectedcreditlossesoverthenext12months | Expectedcreditlossoverlife(nocreditimpairment) | Expectedcreditlossesfortheentireduration(creditimpairmentoccurred) | ||
BalanceasatJune30,2022 | 30,844,110.43 | 30,844,110.43 | ||
BalanceasatJune30,2022incurrent | ||||
BalanceasatJune30,2022 | 30,844,110.43 | 30,844,110.43 |
3)Accountsreceivablewithdraw,reversedorcollectedduringthereportingperiodNone
4)Theactualwrite-offotheraccountsreceivable:None
5)Otherreceivablesareclassifiedbythenature
InRMB
Nature | Closingbookbalance | Openingbookbalance |
Securitiestradingsettlementfunds | 30,844,110.43 | 30,844,110.43 |
Deposit | 2,217,540.36 | 2,102,176.36 |
Pettycash | 1,671,130.23 | 1,519,593.22 |
Other | 2,833,431.54 | 2,058,740.12 |
Less:Baddebtprovision | -30,844,110.43 | -30,844,110.43 |
Total | 6,722,102.13 | 5,680,509.70 |
6)Top5oftheclosingbalanceoftheotheraccountsreceivablecollatedaccordingtothearrearsparty
InRMB
Name | Nature | Closingbalance | Aging | Proportionofthetotalyearendbalanceoftheaccountsreceivable(%) | Closingbalanceofbaddebtprovision |
KunlunSecuritiesCo.,Ltd | Securitiestradingsettlementfunds | 30,844,110.43 | Over5years | 82.11% | 30,844,110.43 |
GuangdongLitongRealEstatesInvestmentCo.,Ltd. | Deposit | 22,980.00 | 1-2years | 4.40% | |
1,630,467.36 | 2-3years | ||||
ChinaRailwayNo.18BureauGroupCo.,Ltd. | Surrogatepayment | 1,099,991.00 | Within1year | 2.93% | |
ChinaRailwayTunnelGroupCo.,Ltd | Surrogatepayment | 559,388.80 | Within1year | 1.49% | |
GuangdongProvincialFreewayCo.,Ltd. | Currentaccount | 463,491.88 | Over5years | 1.23% | |
Total | 34,620,429.47 | 92.16% | 30,844,110.43 |
(7)AccountsreceivableinvolvedwithgovernmentsubsidiesNone
(8)OtheraccountreceivablewhichterminatetherecognitionowningtothetransferofthefinancialassetsNone
(9)TheamountoftheassetsandliabilitiesformedbythetransferandthecontinuesinvolvementofotheraccountsreceivableNone
3.Long-termequityinvestment
InRMB
Items | Endofterm | Beginningofterm | ||||
BookBalance | Impairmentprovision | Bookvalue | BookBalance | Impairmentprovision | Bookvalue | |
Investmentinsubsidiaries | 3,347,330,463.43 | 3,347,330,463.43 | 3,257,062,345.85 | 3,257,062,345.85 | ||
Investmentinjointventuresandassociates | 2,626,347,044.23 | 2,626,347,044.23 | 2,535,548,456.61 | 2,535,548,456.61 | ||
Total | 5,973,677,507.66 | 5,973,677,507.66 | 5,792,610,802.46 | 5,792,610,802.46 |
(1)Investmenttothesubsidiary
InRMB
Name | Openingbalance | Increase/decreaseinreportingperiod | Closingbalance | Closingbalanceofimpairmentprovision | |||
Addinvestment | Decreasedinvestment | Withdrawnimpairmentprovision | Other | ||||
JingzhuExpresswayGuangzhuSectionCo.,Ltd. | 871,171,883.08 | 871,171,883.08 | |||||
GuangfoExpressway | 154,982,475.25 | 154,982,475.25 |
Co.,ltd. | |||||
GuangdongExpresswayTechnologyInvestmentCo.,Ltd. | 95,731,882.42 | 95,731,882.42 | |||
YuegaoCapitalInvestment(Guangzhou)Co.,Ltd. | 109,500,000.00 | 186,000,000.00 | 295,500,000.00 | ||
GuanghuiExpresswayCo.,Ltd. | 2,025,676,105.10 | 2,025,676,105.10 | |||
Total | 3,257,062,345.85 | 186,000,000.00 | 95,731,882.42 | 3,347,330,463.43 |
(2)Investmenttojointventuresandassociatedenterprises
InRMB
Name | Openingbalance | Increase/decreaseinreportingperiod | Closingbalance | Closingbalanceofimpairmentprovision | |||||||
Increaseininvestment | Decreaseininvestment | Investmentincomeunderequitymethod | Othercomprehensiveincome | Otherchangesinequity | Announcedfordistributingcashdividendorprofit | Provisionforimpairment | Other | ||||
I.Jointventures | |||||||||||
II.Associatedenterprises | |||||||||||
GuangdongJiangzhongExpresswayCo.,Ltd. | 318,091,639.29 | 60,000,000.00 | 7,786,931.71 | 31,228.99 | 385,909,799.99 | ||||||
GanzhouGankangExpresswayCo.,Ltd. | 154,118,397.12 | 5,447,568.74 | 159,565,965.86 | ||||||||
GanzhouKangdaExpresswayCo.,Ltd. | 238,101,017.69 | 18,635,759.71 | 256,736,777.40 | ||||||||
ShenzhenHuiyanExpresswayCo.,Ltd. | 320,966,384.17 | 18,574,112.50 | 339,540,496.67 | ||||||||
ZhaoqingYuezhaoHighwayCo.,Ltd. | 315,837,951.35 | 24,596,394.70 | 48,250,000.00 | 292,184,346.05 | |||||||
GuoyuanSecuritiesCo.,Ltd. | 972,089,465.72 | 18,673,979.80 | -836,824.71 | 18,626,864.76 | 971,299,756.05 | ||||||
GuangdongYuepuSmallRefinancingCo.,Ltd | 216,343,601.27 | 4,709,292.76 | 57,008.18 | 221,109,902.21 | |||||||
Subtotal | 2,535,548,456.61 | 60,000,000.00 | 98,424,039.92 | -836,824.71 | 88,237.17 | 66,876,864.76 | 2,626,347,044.23 | ||||
Total | 2,535,548,456.61 | 60,000,000.00 | 98,424,039.92 | -836,824.71 | 88,237.17 | 66,876,864.76 | 2,626,347,044.23 |
4.BusinessincomeandBusinesscost
InRMB
Items | Amountofcurrentperiod | Amountofpreviousperiod | ||
Revenue | Cost | Revenue | Cost | |
Mainbusiness | 636,965,610.55 | 249,145,875.83 | 687,165,042.12 | 365,511,604.40 |
Other | 5,689,892.19 | 1,926,210.70 | 5,469,656.01 | 1,728,556.53 |
Total | 642,655,502.74 | 251,072,086.53 | 692,634,698.13 | 367,240,160.93 |
5.Investmentincome
InRMB
Items | Amountofcurrentperiod | Amountofpreviousperiod |
Long-termequityinvestmentincomeaccountedbycostmethod | 681,064,177.01 | 655,349,778.63 |
Long-termequityinvestmentincomeaccountedbyequitymethod | 98,424,039.92 | 119,611,129.91 |
InvestmentincomefromdisposalofLong-termequityinvestment | -45,107,982.42 | |
Dividendincomefromotherequityinstrumentinvestmentsduringtheholdingperiod | 47,286,243.74 | 49,403,538.24 |
Interestincomefromdebtinvestmentduringholdingperiod. | 10,079,133.93 | 19,667,579.79 |
Total | 791,745,612.18 | 844,032,026.57 |
XVIII.SupplementaryInformation
1.Currentnon-recurringgains/losses
√Applicable□Notapplicable
InRMB
Items | Amount | Notes |
Gains/Lossesonthedisposalofnon-currentassets | 447,880.54 | |
Governmentgrantsrecognizedinthecurrentperiod,exceptforthoseacquiredintheordinarycourseofbusinessorgrantedatcertainquotasoramountsaccordingtothecountry’sunifiedstandards | 7,349,285.08 | |
Netamountofnon-operatingincomeandexpenseexcepttheaforesaiditems | 2,881,455.61 | |
Othernon-recurringGains/lossitems | 14,393,329.63 | |
Less:Influencedamountofincometax | -8,354,389.12 | |
Influencedamountofminorshareholders’equity(aftertax) | 2,729,583.49 | |
Total | 30,696,756.49 | -- |
Detailsofotherprofitandlossitemsthatmeetthenon-recurringprofitandlossdefinition
□Applicable√NotapplicableNoneFortheCompany’snon-recurringgain/lossitemsasdefinedintheExplanatoryAnnouncementNo.1oninformationdisclosureforCompaniesOfferingtheirSecuritiestothePublic-Non-recurringGainsandLossesanditsnon-recurringgain/lossitemsasillustratedintheExplanatoryAnnouncementNo.1oninformation
DisclosureforCompaniesofferingtheirsecuritiestothepublic-non-recurringGainsandlosseswhichhavebeendefinedasrecurringgainsandlosses,itisnecessarytoexplainthereason.
□Applicable√Notapplicable
2.Returnonequity(ROE)andearningspershare(EPS)
Profitasofreportingperiod | WeightedaverageROE(%) | EPS(Yuan/share) | |
EPS-basic | EPS-diluted | ||
NetprofitattributabletocommonshareholdersoftheCompany | 8.45% | 0.37 | 0.37 |
NetprofitattributabletocommonshareholdersoftheCompanyafterdeductionofnon-recurringprofitandloss | 8.11% | 0.36 | 0.36 |
3.Differencesbetweenaccountingdataunderdomesticandoverseasaccountingstandards
(1).SimultaneouslypursuanttobothChineseaccountingstandardsandinternationalaccountingstandardsdisclosedinthefinancialreportsofdifferencesinnetincomeandnetassets.
□Applicable□√Notapplicable
(2).DifferencesofnetprofitandnetassetsdisclosedinfinancialreportspreparedunderoverseasandChineseaccountingstandards.
□Applicable□√Notapplicable
(3).Explanationofthereasonsforthedifferencesinaccountingdataunderdomesticandforeignaccountingstandards.Ifthedatathathasbeenauditedbyanoverseasauditinstitutionisadjustedfordifferences,thenameoftheoverseasinstitutionshouldbeindicatedNone