GuangdongProvincialExpresswayDevelopmentCo.,Ltd.
2018AnnualReport
March2019
I.ImportantNotice,TableofContentsandDefinitions
TheBoardofDirectorsandthedirectors,SupervisoryCommitteeandsupervisorsandSeniorExecutivesoftheCompanyherebywarrantthatattheyear,therearenomisstatement,misleadingrepresentationorimportantomissionsinthisreportandshallassumejointandseveralliabilityfortheauthenticity,accuracyandcompletenessofthecontentshereof.
Mr.ZhengRenfa,TheCompanyleader,Mr.WangChunhua,GeneralManager,Mr.FangZhi,ChieffinancialofficerandtheMs.ZhouFang,thepersoninchargeoftheaccountingdepartment(thepersoninchargeoftheaccounting)herebyconfirmtheauthenticityandcompletenessofthefinancialreportenclosedinthisannualreport.
AllthedirectorsattendedtheboardmeetingforreviewingtheAnnualReport.ThetollrevenuesofExpresswayismainsourceofthemajorbusinessincomeofthecompany,Thechargestandardofvehicletollmustbesubmittedtothesamelevelpeople'sgovernmentforreviewandapprovalafterthetransportregulatorydepartmentofprovince,autonomousregionormunicipalitydirectlyunderthecentralgovernmentinconjunctionwiththepriceregulatorydepartmentatthesamelevelconsenteduponexamination.Therefore,theadjustmenttrendofthechargepriceandthechargepriceifhasthecorrespondingadjustmentinthefuturepricelevelwhenthecostofthecompanyrisesstilldependontheapprovalofrelevantnationalpoliciesandgovernmentdepartments,andthecompanyisn'tabletomaketimelyadjustmenttothechargestandardinaccordancewiththeitsownoperationcostorthechangeofmarketsupplydemand.So,thechangeofchargepolicyandtheadjustmentofchargestandardalsohaveinfluenceontheexpresswaysoperatedbythecompanytosomeextent.So,thechargingpolicychangesandchargesadjustmentwillaffectthehighwaysoperationofthecompany.
Theprofitdistributionproposalreviewedandapprovedbytheboardingmeetingwassummarizedasfollows:
2,090,806,126forthebase,theCompanywoulddistributecashdividendtoalltheshareholdersattherateofCNY5.62forevery10shares(withtaxinclusive),0bonusshares(includingtax)andnoreservewouldbeconvertedintosharecapital.
TableofContents
I.ImportantNotice,TableofcontentsandDefinitionsII.BasicInformationoftheCompanyandFinancialindexIII.OutlineofCompanyBusinessIV.Management’sDiscussionandAnalysisV.ImportantEventsVI.ChangeofsharecapitalandshareholdingofPrincipalShareholdersVII.SituationofthePreferredSharesVIII.InformationaboutDirectors,SupervisorsandSeniorExecutivesIX.AdministrativestructureX.CorporateBondXI.FinancialReportXII.Documentsavailableforinspection
Definition
Termstobedefined | Refersto | Definition |
Reportingperiod,Thisyear | Refersto | January1,2018toDecember31,2018 |
Reportingdate | Refersto | Theannualreportofthecompanywasapprovedbytheboardofdirectorson2018,thatis,March27,2019 |
YOY | Refersto | Comparedwith2017 |
TheCompany/ThisCompany | Refersto | GuangdongProvincialExpresswayDevelopmentCo.,Ltd. |
CommunicationGroup | Refersto | GuangdongCommunicationGroupCo.,Ltd. |
GuangdongExpressway | Refersto | GuangdongExpresswayCo.,Ltd. |
ConstructionCompany | Refersto | GuangdongHighwayConstructionCo.,Ltd. |
TechnologyCompany/GuangdongExpresswayTechnology | Refersto | GuangdongExpresswayTechnologyInvestmentCo.,Ltd |
FokaiCompany,Subsidiary | Refersto | GuangdongFokaiExpresswayCo.,Ltd. |
FokaiBranch | Refersto | GuangdongFokaiExpresswayCo.,Ltd.FokaiBranch |
ThereconstructionandexpansionofthsouthsectionofFokaiExpressway | Refersto | ThereconstructionandexpansionoftheSanbao-Shuikousection(southsection)ofFokaiExpressway. |
GuangfoCompany | Refersto | GuangdongGuangfoExpresswayCo.,Ltd. |
GuangdongExpresswayCapital | Refersto | YuegaoCapitalInvestment(Hengqin)Co.,Ltd. |
GuangzhuEastCompany | Refersto | JingzhuExpresswayGuangzhuSectionCo.,Ltd. |
Majorassetsrestructuring | Refersto | GuangdongProvincialExpresswayDevelopmentCo.,Ltd.issuessharesandusescashtopurchaseassetsandraisecounterpartfundsandRelatedtransaction |
II.BasicInformationoftheCompanyandFinancialindex
1.CompanyInformation
Stockabbreviation: | GuangdongExpresswayA,B | Stockcode: | 000429、200429 |
Stockexchangeforlisting | ShenzhenStockExchange | ||
NameinChinese | 广东省高速公路发展股份有限公司 | ||
ChineseAbbreviation | 粤高速 | ||
Englishname(Ifany) | GuangdongProvincialExpresswayDevelopmentCo.Ltd. | ||
EnglishAbbreviation(Ifany) | GPED | ||
LegalRepresentative | ZhengRenfa | ||
Registeredaddress | 85BaiyunRoad,Guangzhou,GuangdongProvince | ||
PostalcodeoftheRegisteredAddress | 510100 | ||
OfficeAddress | 45-46/F,LitongPlaza,No.32,ZhujiangEastRoad,ZhujiangNewCity,TianheDisrtict,Guangzhou | ||
Postalcodeoftheofficeaddress | 510623 | ||
InternetWebSite | www.gpedcl.com | ||
ygs@gdcg.cn |
2.Contactpersonandcontactmanner
Boardsecretary | SecuritiesaffairsRepresentative | |
Name | YangHanming | LiangJirong |
Contactaddress | 46/F,LitongPlaza,No.32,ZhujiangEastRoad,ZhujiangNewCity,TianheDisrtict,Guangzhou | 45/F,LitongPlaza,No.32,ZhujiangEastRoad,ZhujiangNewCity,TianheDisrtict,Guangzhou |
Tel | 020-29004619 | 020-29004523 |
Fax | 020-38787002 | 020-38787002 |
Hmy69@126.com | 139221590@qq.com |
3.Informationdisclosureandplaced
NewspapersselectedbytheCompanyforinformationdisclosure | SecuritiesTimes,ChinaSecurities,ShanghaiSecuritiesDailyandHongkongCommercialDaily. |
InternetwebsitedesignatedbyCSRCforpublishingtheAnnualreportoftheCompany | www.cninfo.com.cn |
TheplacewheretheAnnualreportispreparedandplaced | SecuritiesaffairDeptoftheCompany |
4.ChangesinRegistration
OrganizationCode | 91440000190352102M |
Changesinprincipalbusinessactivitiessincelisting(ifany) | Nochange |
Changesisthecontrollingshareholderinthepast(isany) | OnNovember2000,InaccordancewithCaiGuanZi(2008)No.109DocumentofMinistryofFinanceandYueBanHan(2000)No.574DocumentofGeneralOfficeofGuangdongPeople'sGovernment,thestate-ownedsharesofGuangdongExpresswayoriginallyentrustedtoGuangdongExpresswayCompany(nowrenamedas"GuangdongProvincialExpresswayCo.,Ltd.")formanagementweretransferredtoGuangdongCommunicationGroupCo.,Ltd.forholdingandmanagement.Afterthetransferofstate-ownedshares,GuangdongCommunicationGroupCo.,Ltd.becamethelargestshareholderoftheCompany.Thenatureofequitywasdefinedasstate-ownedshares. |
5.OtherRelevantInformationCPAsengaged
NameoftheCPAs | GuangdongZhengzhongZhujiangCertifiedPublicAccountantsCo.,Ltd. |
Officeaddress: | 10/F,YuehaiGroupBuilding,No.555DongfengEastRoad,Guangzhou |
NamesoftheCertifiedPublicAccountantsasthesignatories | FengKuncong,XuJihong |
ThesponsorperformingpersistentsupervisiondutiesengagedbytheCompanyinthereportingperiod.□Applicable√NotapplicableTheFinancialadvisorperformingpersistentsupervisiondutiesengagedbytheCompanyinthereportingperiod□Applicable√Notapplicable
6.SummaryofAccountingdataandFinancialindexWhetherithasretroactiveadjustmentorre-statementonpreviousaccountingdata√Yes□NoRetroactiveadjustmentorrestatementofreasonsAccountingpolicychange
2018 | 2017 | Changedoverlastyear(%) | 2016 | |||
Beforeadjustment | Afteradjustment | Afteradjustment | Beforeadjustment | Afteradjustment | ||
Revenue(Yuan) | 3,218,694,083.94 | 3,089,055,399.21 | 3,089,055,399.21 | 4.20% | 2,825,049,808.36 | 2,825,049,808.36 |
Netprofitattributabletotheshareholdersofthelistedcompany(Yuan) | 1,677,028,179.18 | 1,509,922,398.70 | 1,509,922,398.70 | 11.07% | 1,001,205,945.39 | 1,001,205,945.39 |
Netprofitafterdeductingofnon-recurringgain/lossattributabletotheshareholdersoflistedcompany(Yuan) | 1,395,441,391.82 | 1,271,993,450.05 | 1,271,993,450.05 | 9.71% | 846,981,077.52 | 846,981,077.52 |
Cashflowgeneratedbybusinessoperation,net(Yuan) | 1,915,985,578.04 | 2,194,989,925.35 | 2,194,989,925.35 | -12.71% | 1,924,259,958.28 | 1,924,259,958.28 |
Basicearningpershare(Yuan/Share) | 0.80 | 0.72 | 0.72 | 11.11% | 0.52 | 0.52 |
Dilutedgainspershare(Yuan/Share) | 0.80 | 0.72 | 0.72 | 11.11% | 0.52 | 0.52 |
WeightedaverageROE(%) | 18.37% | 17.69% | 17.69% | 0.68% | 14.18% | 14.18% |
Endof2018 | Endof2017 | Changedoverlastyear(%) | Endof2016 | |||
Beforeadjustment | Afteradjustment | Afteradjustment | Beforeadjustment | Afteradjustment | ||
Grossassets(Yuan) | 16,295,910,774.45 | 16,523,315,093.72 | 16,523,315,093.72 | -1.38% | 16,072,445,216.59 | 16,072,445,216.59 |
Netassetsattributabletoshareholdersofthelistedcompany(Yuan) | 9,586,701,904.06 | 9,023,071,118.45 | 9,023,071,118.45 | 6.25% | 8,289,020,301.39 | 8,289,020,301.39 |
Reasonsofaccountingpolicychangeandcorrectionofaccountingerror
OnJune26,2018,TheMinistryofFinanceissuedtheNoticeonRevisingandIssuingtheFormatofGeneralEnterpriseFinancialStatementsfor2018(Caikuai
[2018]No.15),whichadjustedtheformatofenterprisefinancialstatementsaccordinglyandmergedtheoriginal"notesreceivable"and"accountsreceivable"lineitemsinto"notesreceivableandaccountsreceivable";Theitemsintheoriginal"interestreceivable","dividendreceivable"and"otherreceivables"linesaremergedinto"otherreceivables";Theitemsintheoriginal"fixedassets"and"fixedassetsliquidation"linesaremergedinto"fixedassets";Theitemsintheoriginal"engineeringmaterials"and"constructioninprogress"linesaremergedinto"constructioninprogress";Theitemsintheoriginal"notespayable"and"accountspayable"linesaremergedinto"notespayableandaccountspayable";Theitemsintheoriginal"interestpayable","dividendpayable"and"otherpayables"linesaremergedinto"otherpayables";Theitemsintheoriginal"long-termpayables"and"specialpayables"linesaremergedinto"long-termpayables";Intheincomestatement,thedetaileditemsof"managementexpenses"and"researchanddevelopmentexpenses"arebrokendownundertheitemof"managementexpenses";Thedetaileditemsof"interestexpense"and"interestincome"arebrokendownunder"financialexpense"intheincomestatement.TheCompanyadoptsretrospectiveadjustmentmethodforthisaccountingpolicychange,andretroactivelyadjuststheitemsreportedin2017financialstatements.
7.Thedifferencesbetweendomesticandinternationalaccountingstandards1.SimultaneouslypursuanttobothChineseaccountingstandardsandinternationalaccountingstandardsdisclosedinthefinancialreportsofdifferencesinnetincomeandnetassets.□Applicable□√Notapplicable
Nil
2.DifferencesofnetprofitandnetassetsdisclosedinfinancialreportspreparedunderoverseasandChineseaccountingstandards.
□Applicable√NotapplicableNil
8.MainFinancialIndexbyQuarters
InRMB
Firstquarter | Secondquarter | Thirdquarter | Fourthquarter | |
Revenue | 743,043,761.26 | 792,820,383.88 | 850,769,743.92 | 832,060,194.88 |
Netprofitattributabletotheshareholdersofthelistedcompany | 341,598,430.84 | 437,403,816.14 | 441,303,002.76 | 456,722,929.44 |
Netprofitafterdeductingofnon-recurringgain/lossattributabletotheshareholdersoflistedcompany | 341,067,803.01 | 411,849,908.52 | 427,205,756.24 | 215,317,924.05 |
NetCashflowgeneratedbybusinessoperation | 332,977,529.61 | 484,302,058.49 | 616,987,110.21 | 481,718,879.73 |
Whethersignificantvariancesexistbetweentheabovefinancialindexortheindexwithitssumandthefinancialindexofthequarterlyreportaswellassemi-annualreportindexdisclosedbytheCompany.
□Yes√No
9.Itemsandamountofnon-currentgainsandlosses√Applicable□Notapplicable
InRMB
Items | Amount(2018) | Amount(2017) | Amount(2016) | Notes |
Non-currentassetdisposalgain/loss(includingthewrite-offpartforwhichassetsimpairmentprovisionismade) | 63,173,138.25 | -2,745,683.68 | 8,644,766.55 | |
Govemmentsubsidiesrecognizedincurrentgainandloss(excludingthosecloselyrelatedtotheCompany’sbusinessandgrantedunderthestate’spolicies) | 1,113,228.32 | 385,932.17 | 704,645.87 | |
Currentnetgainsandlossesoccurredfromperiod-begintocombinationdaybysubsidiariesresultingfrombusinesscombinationundercommoncontrol | 102,025,476.76 |
Items | Amount(2018) | Amount(2017) | Amount(2016) | Notes |
Othernon-businessincomeandexpendituresotherthantheabove | -1,545,368.05 | 61,458,075.96 | 62,762,574.05 | |
Less:Amountofinfluenceofincometax | -230,679,518.30 | -178,668,186.37 | 17,954,525.92 | Theamountin2018isduetothedeferredincometaxassetsof246,010,541.19yuanafterthecancellationofGuangdongFokaiExpresswayCo.,Ltd. |
Amountofinfluenceofminorityinterests(aftertax) | 11,833,729.46 | -162,437.83 | 1,958,069.44 | |
Total | 281,586,787.36 | 237,928,948.65 | 154,224,867.87 | -- |
FortheCompany’snon-recurringgain/lossitemsasdefinedintheExplanatoryAnnouncementNo.1oninformationdisclosureforCompaniesOfferingtheirSecuritiestothePublic-Non-recurringGainsandLossesanditsnon-recurringgain/lossitemsasillustratedintheExplanatoryAnnouncementNo.1oninformationDisclosureforCompaniesofferingtheirsecuritiestothepublic-non-recurringGainsandlosseswhichhavebeendefinedasrecurringgainsandlosses,itisnecessarytoexplainthereason.□Applicable√NotapplicableNoneofNon-recurringgain/lossitemsrecorgnizedasrecurringgain/loss/itemsasdefinedbytheinformationdisclosureexplanatoryAnnouncementNo.1-Non–recurringgain/lossinthereportperiod.
III.BusinessProfileⅠ.MainBusinesstheCompanyisEngagedinDuringtheReportPeriodWhetherthecompanyneedstocomplywiththedisclosurerequirementsoftheparticularindustryNoTheCompanyisaninfrastructureindustry,withmainbusinessindevelopingandoperatingexpresswayandbigbridges.ItisoneofthemaininstitutionsofdevelopingexpresswayandbigbridgeinGuangdongExpresswaySystem.Theexpresswayindustryistheindustryhelpedbygovernment.TheCompanyismainlyengagedintollingandmaintenanceofGuangfoExpressway,FokaiExpresswayandJingzhuExpresswayGuangzhuSectioninvestmentintechnologicalindustriesandprovisionofrelevantconsultationwhileinvestinginShenzhenHuiyanExpresswayCo.,Ltd.,GuangzhouGuanghuiExpresswayCo.,Ltd.,GuangdongJiangzhongExpresswayCo.,Ltd.,ZhaoqingYuezhaoExpresswayCo.,Ltd.,GanzhouKangdaExpressway,GanzhouGankangExpresswayCo.,Ltd.,GuangdongYuekeTechnologyPettyLoanCo.,Ltd.,GuangdongGuangleExpresswayCo.,Ltd.andGuoyuanSecuritiesCo.,Ltd.Asoftheendofthereportingperiod,thecompany’sshare-controlledexpresswayis153.71km,andShare-controlledexpresswaysandshare-participationexpresswaysareconvertedto264.41kilometersinproportiontoequity.Ⅱ.MajorChangesinMainAssets1.MajorChangesinMainAssets
Mainassets | Majorchanges |
Equityassets | Anincreasedby98.36millionyuanand3.23%overthebeginningoftheyear,Mainlyduetothecombinedeffectoftheshareholder'sdistributionofdividendsandtheincreaseininvestmentincome. |
Fixedassets | Adecreasedby905.38millionyuanand10.64%overthebeginningoftheyear,MainlyduetothedepreciationofthecurrentperiodofGuangzhuEastandFokaiCompany. |
Intangibleassets | Nosignificantchange. |
Constructioninprocess | Anincreasedby731.86millionyuanand204.65%overthebeginningoftheyear,MainlyduetotheaffectionbythereconstructionandexpansionoftheSanbao-Shuikousection(southsection)ofFokaiExpressway. |
Deferredincometaxassets | Anincreasedby112.19millionyuanand33.46%overthebeginningoftheyear,ThemainreasonisthattheDepartmentrecognizesthedeferredincometaxassetscorrespondingtothelosses. |
2.MainConditionsofOverseasAssets
□Applicable√Notapplicable
III.AnalysisOncoreCompetitivenessWhetherornottheCompanycomplieswithdisclosurerequirementofthespecialindustryNo
Thetollrevenueofexpresswayindustrymainlydependsontheregionaleconomicdevelopment.The
regionaleconomyisthecriticalfactorthatinfluencesthetrafficvolume.TheGuangfoexpresswayandtheFokaiexpressway,controlledbythecompany,arepartoftheNationalExpresswayNetworkPlanning-“Fiveverticalandsevenhorizontal”,Theshare-controlledBeijing-ZhuhaiGuangzhuSectionExpresswayisafastandconvenientexpressway.andmanyofthecompany’sequity-participationexpresswaysthatarepartofthemainskeletonoftheGuangdongProvincialExpresswayPlanning-“Tenverticalandfivehorizontal”,whichprovidesastrongguaranteeforstabletrafficvolume.Meanwhile,theregionaleconomyisthecriticalfactorthatinfluencesthetrafficvolume,asGuangdongprovinceistheeconomicallydevelopedregion,withyears’continuoushighgrowthofGDP,sothatprovidesthestablerisingdemandforthecompany.
IV.Management’sDiscussionandAnalysis
I.GeneralIn2018,TheboardofdirectorsoftheCompanyactivelyimplementstheresolutionsofthegeneralmeetingofshareholders,earnestlyperformsitsduties,leadsthecompany'smanagementteam,closelyfocusesontheoverallgoalof"beingstrongerandbetter"inaccordancewiththerelevantrequirementsofGuangdongprovinceforcomprehensivelydeepeningthereformofstate-ownedenterprises,takesthepartyconstructionastheguide,stabilizesthemainbusiness,promotesthetransformationthroughinvestment,andpromotesthehigh-qualitydevelopmentoftheCompany.In2018,accordingtotheoverallworkplan,steadyprogressaremadeandimplementationarevigorouslypromoted.Alltasksandobjectiveshavebeensuccessfullycompleted.1.Basicallycompletethesettargetin2018.2018toachieveoperatingincomeof3.219billionyuantocompletethetargetvalueof3.227billionyuanby99.75%;toachieveoperatingcostsof1.279billionyuantocompletethetargetvalueof1.326billionyuanby100%.2.CompletetheabsorptionandmergerofFokaisubsidiaries.In2018,thecompanyorganizedandcompletedkeyworksuchasbankloancontractsubjectchange,realestatetransfer,preparationandhandoverofassetlist,cancellationoftaxregistrationby15taxauthorities,andcancellationofFokaisubsidiaries,andsuccessfullycompletedtheabsorptionandmergerofFokaisubsidiaries.3.Achievesmoothprogressforreconstructionandexpansionproject.In2018,theconstructionprojectsunderconstructionoftheholdingcompanyincludethereconstructionandexpansionprojectsofFoshan-ShuikouExpresswaySanbao-ShuikouSectionandHuiyanExpresswayofFoshan-ShuikouExpressway,amongwhichtheFoshan-ShuikouExpresswaysouthsectionissubjecttoreconstructionandexpansionofsoftfoundation,subgradeandculvertworks,thebridgeandpavementworksarecompletedby60%and50%respectively,andtheconstructionisprogressingsmoothly.HuiyanExpresswayreconstructionandexpansionprojectisalsoprogressingsteadilyasplanned.4.Thescreeningofhigh-qualityprojectsourcesisstrengthened.Accordingtotheoverallarrangementofthecompany's"13thFive-Year"DevelopmentPlanandthegoaloftransformationanddevelopment,wehavefirmlyestablishedtheconceptthatfocusontheprojectsandinvestmentisthefocusondevelopment.BasedonGuangdong'shighcapitalinvestmentplatform,centeredbydirectionssuchasserviceindustryandintelligenttransportation,wehavefollowedandanalyzedmorethanadozenprojects,andwillcontinuousearchforhigh-qualityinvestmentprojectssuitableforcompanydevelopment.5.Orderlypromotethedevelopmentofresourcesalongtheexpressway.Throughthepracticeofcomprehensivedevelopmentofresourcesalongexpressways,itisnotonlytheneedsofthecompany'sowndevelopment,butalsothepracticalneedsof"drivingcompetitivebusinesswithquasi-publicbusiness,drivingquasi-publicbusinesswithcompetitivebusiness,andcreatingacomprehensivereturnmodel".Thisyear,effortswillbefocusedonrevitalizinglandplotsalongtheroutethroughlease,promotingeligiblelandplotsanddeepeningresearchonthecomprehensivedevelopmentmodeloflandresources,soastolayafoundationforthesubsequentdevelopmentoflandresourcesalongtheroute.6.Promotetheintegrationofself-developed"BlueChannel"technologyandprovincialhighwaytollcollection
systemupgrading."BlueChannel"projectisausefulexplorationforthecompanytoexpanditsintelligenttransportationbusiness.InordertointegratethistechnologyintotheoverallarrangementoftheupgradingandrenovationofexpresswaytollcollectionsysteminGuangdongProvince,GuangdongHighSpeedTechnologyInvestmentCo.,Ltd.,awholly-ownedsubsidiaryofthecompany,takesthe"BlueChannel"relatedintellectualpropertyrightsasthetransferpricebymeansofagreementtransferandaccordingtotheevaluationvalue.TheassetgroupistransferredtoGuangdongUnionElectronicServicesCo.,Ltd.7.LeadtheestablishmentoftheIntelligentTransportationIndustryInvestmentAlliance.Thecompanyactivelyrespondedtonationalpoliciesandtheneedsofindustrydevelopment.Inordertostrengthentheresearchonintelligenttransportationindustrypolicies,industryanalysisandinformationexchangeandsharing,thecompanytooktheopportunityofthe"China(Xiaoguwei)'Internet+Transportation'InnovationandEntrepreneurshipCompetition".InNovember,thecompanyjointlyestablishedthe"ChinaIntelligentTransportationIndustryInvestmentAlliance"withanumberoftransportationindustrycompaniestohelpexpandintelligenttransportationbusiness.II.Mainbusinessanalysis1.GeneralTheCompanyisaninfrastructureindustry,withmainbusinessindevelopingandoperatingexpresswayandbigbridges.ItisoneofthemaininstitutionsofdevelopingexpresswayandbigbridgeinGuangdongExpresswaySystem.
Inthereportperiod,thevehicletrafficandtollincomeofthecontrolledsubsidiariesandjointventuresoftheCompanyareasfollows:
Volumeofvehicletrafficin2018(Tenthousandsvehicles) | Increase/Decrease(%) | Tollincomein2018(Tenthousands) | Increase/Decrease(%) | |
GuangfoExpressway | 6,571.56 | 4.92% | 47,459.17 | 9.13% |
FokaiExpressway | 7,538.89 | 19.82% | 132,756.72 | 5.91% |
JingzhuExpresswayGuangzhuEastSection | 8,129.98 | 2.94% | 131,428.29 | 1.81% |
HuiyanExpressway | 4,134.96 | 8.41% | 24,528.82 | 5.52% |
GuangzhaoExpressway | 3,258.06 | 8.67% | 55,079.41 | 8.45% |
GuanghuiExpressway | 6,258.26 | 8.72% | 183,152.15 | 0.60% |
JiangzhongExpressway | 5,751.28 | 4.08% | 47,945.55 | 4.91% |
KangdaExpressway | 302.44 | 2.28% | 23,986.88 | -0.45% |
GangkangExpressway | 399.92 | 16.79% | 16,615.27 | 18.93% |
GuangleExpressway | 2,684.97 | 14.24% | 310,013.64 | 4.04% |
Overallsituation:Duringthereportingperiod,thetrafficvolumeofparticipatingandcontrollingexpresswaysmaintainedagrowthtrend.TollrevenueincreasedbydifferentratescomparedwiththesameperiodlastyearexceptforthenegativegrowthofNankang-DayuExpressway.1.GuangfoExpressway:affectedbytheimplementationofrestrictedtrucksinFoshanFirstRingRoad,thenumberoftrucktrafficincreasedyear-on-year,sotheincreasepercentageintollrevenuewashigherthantheincreaseintrafficvolume.2.FokaiExpressway:Theincomegrowthlevelofthefirstthreequartersremainedstable.Inthefourthquarter,duetotheopeningoftheentirelineofYunzhanExpressway,theincomegrowthleveldeclined.
3.GuangzhuSectionofBeijing-ZhuhaiExpressway:DuringtheperiodofclosureofHongqiliBridgeonNationalHighwayfromJanuarytoAugust2017,vehiclesbypassedGuangzhudongExpressway,whichresultedinasharpincreaseintrafficflowandtollrevenueofGuangzhudongExpressway.In2018,thisfactordisappeared,andthetrafficflowandtollrevenueofGuangzhou-Zhuhai-EastExpresswayreturnedtonormal,withasmallincreaseoverthesameperiodlastyear.4.HuiyanExpressway:Vehicleflowandtollrevenuemaintainednormalnaturalgrowth.TheongoingreconstructionandexpansionofHuiyanExpresswayhasnothadasubstantialimpactonroadtrafficthisyear.5.GankangExpressway:Theincreaseintrafficvolumeandtollrevenuewasmainlyduetothecomprehensiveeffectsofpositivefactorsincludingsurroundinglocalroadrepair,localroadkeyvehicleregulatingandXinganhighwaytrafficvolumebringing-in.2.Revenueandcost(1)ComponentofBusinessIncome
InRMB
2018 | 2017 | Increase/decrease | |||
Amount | Proportion | Amount | Proportion | ||
Totaloperatingrevenue | 3,218,694,083.94 | 100% | 3,089,055,399.21 | 100% | 4.20% |
Industry | |||||
Highwaytransportations | 3,116,441,804.18 | 96.82% | 2,979,291,622.84 | 96.45% | 4.60% |
Other | 102,252,279.76 | 3.18% | 109,763,776.37 | 3.55% | -6.84% |
Product | |||||
Highwaytransportations | 3,116,441,804.18 | 96.82% | 2,979,291,622.84 | 96.45% | 4.60% |
Other | 102,252,279.76 | 3.18% | 109,763,776.37 | 3.55% | -6.84% |
Area | |||||
GuangfoExpressway | 474,591,734.35 | 14.74% | 434,905,187.39 | 14.08% | 9.13% |
FokaiExpressway | 1,327,567,186.19 | 41.25% | 1,253,453,513.48 | 40.58% | 5.91% |
JingzhuExpresswayGuangzhuSection | 1,314,282,883.64 | 40.83% | 1,290,932,921.97 | 41.79% | 1.81% |
Other | 102,252,279.76 | 3.18% | 109,763,776.37 | 3.55% | -6.84% |
(2)SituationofIndustry,ProductandDistrictOccupyingtheCompany’sBusinessIncomeandOperatingProfitwithProfitover10%√Applicable□NotapplicableWhetherornottheCompanycomplieswithdisclosurerequirementofthespecialindustryNo
InRMB
Turnover | Operationcost | Grossprofitrate(%) | Increase/decreaseofrevenueinthesameperiodoftheprevious | Increase/decreaseofbusinesscostoverthesameperiodof | Increase/decreaseofgrossprofitrateoverthesameperiodofthe |
year(%) | previousyear(%) | previousyear(%) | ||||
Industry | ||||||
Highwaytransportations | 3,116,441,804.18 | 1,202,346,408.66 | 61.42% | 4.60% | 2.17% | 0.92% |
Product | ||||||
Highwaytransportations | 3,116,441,804.18 | 1,202,346,408.66 | 61.42% | 4.60% | 2.17% | 0.92% |
Area | ||||||
GuangfoExpressway | 474,591,734.35 | 102,214,783.92 | 78.46% | 9.13% | -17.36% | 6.90% |
FokaiExpressway | 1,327,567,186.19 | 703,995,761.95 | 46.97% | 5.91% | 3.93% | 1.01% |
JingzhuExpresswayGuangzhuSection | 1,314,282,883.64 | 396,135,862.79 | 69.86% | 1.81% | 5.41% | -1.03% |
Undercircumstancesofadjustmentinreportingperiodforstatisticscopeofmainbusinessdata,adjustedmainbusinessbasedonlatestonyear’sscopeofperiod-end.□Applicable√Notapplicable(3)WhethertheCompany’sPhysicalSalesIncomeExceededServiceIncome
□Yes√No
(4)DegreeofPerformanceoftheSignificantSalesContractSigneduptothisReportPeriod
□Applicable√Notapplicable
(5)Componentofbusinesscost
Industrycategory
InRMB
Industrycategory | Items | 2018 | 2017 | Increase/Decrease(%) | ||
Amount | Proportionintheoperatingcosts(%) | Amount | Proportionintheoperatingcosts(%) | |||
Highwaytransportations | DepreciationandAmortized | 795,052,567.72 | 62.16% | 809,040,484.70 | 64.87% | -1.73% |
Highwaytransportations | Outofpocketexpenses | 407,293,840.94 | 31.84% | 367,806,625.74 | 29.49% | 10.74% |
Other | Other | 76,748,662.66 | 6.00% | 70,275,242.91 | 5.63% | 9.21% |
Note
(6)WhetherChangesOccurredinConsolidationScopeintheReportPeriod
√Yes□No
TheCompanyhad5subsidiariesincludedinthescopeofconsolidationin2018.Thescopeoftheconsolidatedfinancialstatementsdecreasedby1comparedwiththepreviousperiod-forhavingthewriteoffsubsidiary.InAugust2018,GuangdongFokaiExpresswayCo.,Ltd.completedtheindustrialandcommercialcancellation,andobtainedthe“NoticeofApprovalforCancellationRegistration”andthe“NoticeofPermitforCancellationRegistration”.FromAugust2018,GuangdongFokaiExpresswayCo.,Ltd.wasnolongerincludedinthescopeofconsolidatedstatements.
(7)RelevantSituationofSignificantChangesorAdjustmentoftheBusiness,ProductorServiceintheCompany’sReportPeriod
□Applicable√Notapplicable
(8)SituationofMainCustomersandMainSupplier
□Applicable√Notapplicable
3.Expenses
InRMB
2018 | 2017 | Increase/Decrease(%) | Notes | |
Sellingexpenses | 0.00 | 0.00 | ||
Administrativeexpenses | 183,392,148.68 | 179,811,709.59 | 1.99% | |
Financialexpenses | 212,592,783.74 | 247,306,751.08 | -14.04% | Reducedloanprincipal |
Research&developmentexpenses | 1,318,344.01 | 9,773,866.38 | -86.51% | AfterApril2018,theresearchanddevelopmentcostof"BlueChannel"projectnolongeroccur. |
4.ResearchandDevelopment√Applicable□Notapplicable
InApril2018,GuangdongExpresswayTechnologystoppedtheresearchanddevelopmentofthe“BlueChannel”project,withinvestmentgoingintoothersmarttransportationprojects,andtherelatedprojectsareintheirinfancystage,thustheR&Dinvestmentislowerthanthatofthepreviousyear.R&Dinvestment
2018 | 2017 | Increase/decrease | |
NumberofResearchandDevelopmentpersons(persons) | 17 | 28 | -39.29% |
ProportionofResearchandDevelopmentpersons | 0.77% | 1.28% | -0.51% |
AmountofResearchandDevelopmentInvestment(InRMB) | 1,318,344.01 | 9,773,866.38 | -86.51% |
ProportionofResearchandDevelopmentInvestmentofOperationRevenue | 0.04% | 0.32% | -0.28% |
AmountofResearchandDevelopmentInvestmentCapitalization(InRMB) | 0.00 | 0.00 | 0.00% |
ProportionofCapitalizationResearchandDevelopmentInvestmentofResearchandDevelopmentInvestment | 0.00% | 0.00% | 0.00% |
TheReasonoftheProminentChangeinTotalAmountofResearchandDevelopmentInputOccupyingtheBusinessIncomeYearonYear
□Applicable√Notapplicable
ExplanationoftheReasonforSubstantialChangesintheResearchandDevelopmentInput’sCapitalizationRateandItsReasonableness□Applicable√Notapplicable5.CashFlow
InRMB
Items | 2018 | 2017 | Increase/Decrease(%) |
Subtotalofcashinflowreceivedfromoperationactivities | 3,384,347,808.21 | 3,236,665,403.26 | 4.56% |
Subtotalofcashoutflowreceivedfromoperationactivities | 1,468,362,230.17 | 1,041,675,477.91 | 40.96% |
Netcashflowarisingfromoperatingactivities | 1,915,985,578.04 | 2,194,989,925.35 | -12.71% |
Subtotalofcashinflowreceivedfrominvestingactivities | 642,611,742.49 | 484,922,170.62 | 32.52% |
Subtotalofcashoutflowforinvestmentactivities | 845,371,278.92 | 1,229,007,515.09 | -31.22% |
Netcashflowarisingfrominvestmentactivities | -202,759,536.43 | -744,085,344.47 | -72.75% |
Subtotalcashinflowreceivedfromfinancingactivities | 1,385,000,000.00 | 1,838,277,777.78 | -24.66% |
Subtotalcashoutflowforfinancingactivities | 3,335,697,061.08 | 3,530,866,387.00 | -5.53% |
Netcashflowarisingfromfinancingactivities | -1,950,697,061.08 | -1,692,588,609.22 | 15.25% |
Netincreaseincashandcashequivalents | -239,738,904.10 | -240,236,943.83 | -0.21% |
Notestotheyear-on-yearchangeoftherelevantdata√Applicable□Notapplicable1.Thecashoutflowfromoperatingactivitieswas1.468billionyuan,ofwhich283millionyuanwaspaidincashforgoodsandservicespurchasedandreceivedforroadmaintenance,repair,etc;paidvariouslaborcostsof332millionyuan;andpaid779millionyuantaxes,Anincreasedby427millionyuanyear-onyear,mainlybecauseFokaisubsidiaries’absorptionandmerge-leadingtothatin2018itpaid321millionyuanofcorporateincometaxprovisionedintheendof2017.2.Thecashoutflowofinvestmentactivitieswas845millionyuan,mainlypaidfortheprogressofthereconstructionandexpansionprojectofFokaiSouthSection;Adecreasedby384millionyuanyear-onyear,whichwasmainlyduetothecombinedimpactthattheCompanyinvestedRMB800millionpurchasedGuoyuanSecuritiesinthepreviousperiod,andthisyear’spaymentfortheFokaiExpressway’sreconstructionandexpansionofthesouthernsectionincreasedby416millionyuan.3.Thecashinflowsfromfinancingactivitiesamountedto1.385billionyuan,whichwastheobtainedborrowings,adecreaseof453millionyuanyear-on-yearduetothedecreaseinborrowings.4.Thecashoutflowfromfinancingactivitieswas3.336billionyuan,ofwhich1.785billionyuanwasrepaidfordebt,and1.55billionyuanwasfordividendsandinterestsdistribution.Adecreasedby195millionyuanyear-onyear,whichwasmainlyduetothedecreaseindebtrepaymentsduringtheperiod.ReasonsofmajordifferencebetweenthecashflowofoperationactivityinreportperiodandnetprofitoftheCompany√Applicable□Notapplicable
InRMB
SupplementInformation | Amountofcurrentperiod |
I.Adjustingnetprofittocashflowfromoperatingactivities | -- |
Netprofit | 1,903,340,402.71 |
Add:Impairmentlossprovisionofassets | -1,006,155.42 |
Depreciationoffixedassets,oilandgasassetsandconsumablebiologicalassets | 807,609,480.04 |
Amortizationofintangibleassets | 2,526,983.05 |
AmortizationofLong-termdeferredexpenses | 101,686.95 |
Lossondisposaloffixedassets,intangibleassetsandotherlong-termdeferredassets | -66,431,966.75 |
Fixedassetsscraploss | 3,258,828.50 |
Financialcost | 249,543,624.55 |
Lossoninvestment | -507,659,683.96 |
Decreaseofdeferredincometaxassets | -112,186,009.51 |
Increasedofdeferredincometaxliabilities | -34,374,901.56 |
Decreaseofinventories | -81,017.91 |
Deceaseofoperatingreceivables | 245,477,300.99 |
IncreasedofoperatingPayable | -574,132,993.64 |
Netcashflowsarisingfromoperatingactivities | 1,915,985,578.04 |
II.Significantinvestmentandfinancingactivitiesthatwithoutcashflows: | -- |
3.Movementofcashandcashequivalents: | -- |
Endingbalanceofcash | 2,123,303,796.32 |
Less:Beginningbalanceofcashequivalents | 2,363,042,700.42 |
Netincreaseofcashandcashequivalents | -239,738,904.10 |
III.AnalysisofNon-coreBusiness√Applicable□Notapplicable
InRMB
Amount | Proportionintotalprofit | Explanationofcause | Sustainable(yesorno) | |
InvestmentIncome | 507,659,683.96 | 24.20% | Investmentincomefromshare-participatingunits | Sustainable |
Assetimpairment | -1,006,155.42 | -0.05% | Thissectionisreversed | Notsustainable |
Non-operatingincome | 4,175,801.94 | 0.20% | Mainlyisthecompensationincome. | Notsustainable |
Non-operatingexpenses | 8,979,998.49 | 0.43% | Mainlyduetothedamagerepairofcivilfacilities | Sustainable |
Proceedsfromassetdisposal | 66,431,966.75 | 3.17% | TheZhuhaiHigh-techZoneManagementCommitteerecovered4.213kilometersofGuangzhou-ZhuhaiSectionBeijing-ZhuhaiExpresswayCo.,Ltd.TheExpresswayhasconfirmedtheproceedsofassetdisposal. | Notsustainable |
IV.ConditionofAssetandLiabilities1.ConditionofAssetCausingSignificantChange
InRMB
Endof2018 | Endof2017 | Proportionincrease/decrease | Notestothesignificantchange | |||
Amount | Proportioninthetotalassets(%) | Amount | Proportioninthetotalassets(%) | |||
Monetaryfund | 2,124,524,996.32 | 13.04% | 2,363,042,700.42 | 14.30% | -1.26% | |
Accountsreceivable | 91,076,995.07 | 0.56% | 92,642,625.45 | 0.56% | 0.00% | |
Inventories | 81,017.91 | 0.00% | 0.00% | 0.00% | ||
Investmentrealestate | 3,579,007.54 | 0.02% | 2,755,757.68 | 0.02% | 0.00% | |
Long-termequityinvestment | 3,145,644,970.07 | 19.30% | 3,047,275,000.00 | 18.44% | 0.86% | |
Fixedassets | 7,600,046,319.91 | 46.64% | 8,505,434,890.71 | 51.48% | -4.84% | |
Constructioninprocess | 1,089,473,425.63 | 6.69% | 357,612,211.95 | 2.16% | 4.53% | |
Long-termloans | 2,983,040,000.00 | 18.31% | 4,744,170,000.00 | 28.71% | -10.40% |
2.AssetandLiabilitiesMeasuredbyFairValue
√Applicable□Notapplicable
InRMB
Items | Openingamount | Gain/Lossonfairvaluechangeinthereportingperiod | Cumulativefairvaluechangerecordedintoequity | Impairmentprovisionsinthereportingperiod | Purchasedamountinthereportingperiod | Soldamountinthereportingperiod | Closingamount |
Financialassets |
Items | Openingamount | Gain/Lossonfairvaluechangeinthereportingperiod | Cumulativefairvaluechangerecordedintoequity | Impairmentprovisionsinthereportingperiod | Purchasedamountinthereportingperiod | Soldamountinthereportingperiod | Closingamount |
Available-for-salefinancialassets | 952,782,523.20 | -82,339,230.40 | 352,882,416.00 | 870,443,292.80 | |||
Subtotaloffinancialassets | 952,782,523.20 | -82,339,230.40 | 352,882,416.00 | 870,443,292.80 | |||
Totaloftheabove | 952,782,523.20 | -82,339,230.40 | 352,882,416.00 | 870,443,292.80 | |||
Financialliabilities | 0.00 | 0.00 |
DidanysignificantchangeoccurtotheattributeoftheCompany’smainassetmeasurementduringthereportingperiod?
□Yes√No
3.AssetsrightrestrictiontillendofreportingperiodThebalanceofrestrictedbankdepositsattheendoftheperiodwasRMB1,221,200.00,whichwasthelandreclamationfunddepositedintothefundcustodyaccountforthereconstructionandexpansionprojectofsanbaotoshuikousectionofFokaiExpressway.V.Investmentsituation1.General
√Applicable□Notapplicable
InvestmentAmountin2018(Yuan) | InvestmentAmountin2017(Yuan) | Changerate |
824,811,091.23 | 1,128,590,181.23 | -26.92% |
2.ConditionofAcquiringSignificantShareRightInvestmentduringtheReportPeriod
√Applicable□Notapplicable
InRMB
NameoftheCompanyInvested | MainBusiness | InvestmentWay | InvestmentAmount | ShareProportion% | CapitalSource | Partner | InvestmentHorizon | ProductType | ProgressuptoBalanceSheetDate | AnticipatedIncome | GainorLessortheCurrentInvestment | WhethertoInvolveinLawsuit | DateofDisclosure | DisclosureIndex |
ShenzhenHuiyanExpresswayCo.,Ltd. | Expressway | Increasecapital | 53,000,000.00 | 33.33% | HuiyanCo.,Ltd.UnallocatedprofitconversionCapital | YantianPortCo.,ltd. | Onthebasisofthetermofoperationapprovedbythegovernment | LimitedCompany | Completed | 0.00 | 0.00 | No | October31,2017 | AnnouncementofResolutionsofthe13th(Provisional)MeetingoftheEighthBoardofDirectors,AnnouncementofExternalInvestment |
Total | -- | -- | 53,000,000.00 | -- | -- | -- | -- | -- | -- | 0.00 | 0.00 | -- | -- | -- |
3.SituationoftheSignificantNon-equityInvestmentUndergoingintheReportPeriod
√Applicable□Notapplicable
InRMB
Name | Formofinvestment | Fixedassetsinvestmentornot | Industryinwhichtheinvestmentprojectoperates | Investmentamountduringthereportingperiod | Accumulatedactualamountinvestedasoftheendofreportingperiod | Sourceofund | Progress | Estimatedreturn | Accumulatedrealizedreturnasoftheendoftheendofthereportingperiod | Reasonsforfailureinmeetingscheduledprogressandestimatedreturn | DateofDisclosure(Ifany) | Disclosureindex(Ifany) |
FokaiExpresswaySanbaotoShuikousectionExtensionprojecy | Self | Yes | Expressway | 771,811,091.23 | 1,498,464,844.16 | SelfandBorrowing | 43.74% | 0.00 | 0.00 | Notapplicable | June17,2016 | Announcementofthe19th(Provisional)MeetingoftheSeventhBoardofDirectors,AnnouncementofExternalInvestment |
Total | -- | -- | -- | 771,811,091.23 | 1,498,464,844.16 | -- | -- | 0.00 | 0.00 | -- | -- | -- |
4.InvestmentofFinancialAsset
(1)Securitiesinvestment
√Applicable□Notapplicable
InRMB
Securitycategory | Securitycode | StockAbbreviation: | Initialinvestmentcost | Modeofaccountingmeasurement | Bookvaluebalanceatthebeginningofthereportingperiod | Changesinfairvalueofthethisperiod | Cumulativefairvaluechangesinequity | Purchaseamountinthethisperiod | Saleamountinthethisperiod | Gain/lossofthereportingperiod | Bookvaluebalanceattheendofthereportingperiod | Accountingitems | Sauceoftheshares |
Domesticandforeignstocks | 601818 | EverbrightBank | 517,560,876.80 | FVM | 952,782,523.20 | -82,339,230.40 | 352,882,416.00 | 0.00 | 0.00 | 42,581,144.86 | 870,443,292.80 | Financialassetsavailableforsale | Self |
Total | 517,560,876.80 | -- | 952,782,523.20 | -82,339,230.40 | 352,882,416.00 | 0.00 | 0.00 | 42,581,144.86 | 870,443,292.80 | -- | -- | ||
DisclosureDateofAnnouncementonSecuritiesInvestmentApprovedbytheBoardofDirectors | July22,2009 | ||||||||||||
DisclosureDateofAnnouncementonSecuritiesInvestmentApprovedbytheShareholdersMeeting(Ifany) | August7,2009 |
(2)InvestmentinDerivatives
□Applicable√NotapplicableTheCompanyhadnoinvestmentinderivativesinthereportingperiod.5.Applicationoftheraisedcapital□Applicable√NotapplicableTheCompanyhadnoapplicationoftheraisedcapitalinthereportingperiod.VI.Salesofmajorassetsandequity1.Salesofmajorassets□Applicable√NotapplicableTheCompanyhadnosalesofmajorassetsinthereportingperiod.2.Salesofmajorequity□Applicable√Notapplicable
VII.AnalysisoftheMainShareHoldingCompaniesandShareParticipatingCompanies√Applicable□NotapplicableSituationofMainSubsidiariesandtheJoint-stockCompanywithover10%netprofitinfluencingtotheCompany
InRMB
CompanyName | Companytype | Leadingproductsandservices | Registeredcapital | Totalassets | Netassets | OperatingIncome | Operatingprofit | NetProfit |
GuangfoExpressway | Subsidiary | OperatingGuangfoExpresswayCo.,Ltd.(startsfromHengsha,Guangzhou,endsinXiebian,Foshan.Totallength15.7kilometers | 200millionyuan | 618,339,194.93 | 560,017,228.16 | 478,698,151.01 | 350,870,752.07 | 264,958,397.35 |
GuangzhuTrafficInvestmentManagementCo.,Ltd. | Subsidiary | Highwayinvestmentmanagementandconsultation;highwaymaintenance | 3millionyuan | 2,739,116,415.57 | 708,069,127.55 | 1,340,650,149.26 | 867,657,015.17 | 352,076,637.69 |
GuangdongGuanghuiExpresswayCo.,Ltd. | Sharingcompany | InvestmentinandconstructionofGuanghuiExpresswayCo.,Ltd.andsupportingfacilities,thetollcollectionandmaintenancemanagementofGuanghuiExpressway,TheGuanghuiExpressway'ssupportinggasstation,salvation,vehiclemaintenance,vehicletransport,catering,warehousinginvestmentanddevelopment | 2.352millionyuan | 4,700,244,777.56 | 3,308,404,078.58 | 1,855,658,219.29 | 1,278,442,208.08 | 969,032,056.06 |
JingzhuExpressway | Subsidiary | TheoperationandmanagementofGuangzhou-ZhuhaiExpresswayand | 580millionyuan | 2,734,157,149.77 | 1,278,381,667.35 | 1,340,650,149.26 | 867,740,150.68 | 640,290,496.74 |
GuangzhuSectionCo.,Ltd. | provisionofsupportingservicesincludingfueling,salvageandsupplyofpartsandcomponents |
Subsidiariesobtainedordisposedinthereportingperiod
√Applicable□Notapplicable
Name | Mode | Influence |
GuangdongFokaiExpresswayCo.,Ltd. | Logout | Hasbeentransferredtoabranch,canceledthelossofequity,confirmeddeferredincometaxassets,increasednetprofitof246,010,541.19yuan. |
ParticularsabouttheMutualholdingcompanies1.GuangfoExpresswayCo.,Ltd.,asubsidiaryofthecompany,thecompanyowns75%ofGuangfoExpressway'sequity.ItbuildsandoperatesGuangzhou-FoshanExpressway.Itsmanagementincludesroadmaintenance,tollcollection,signs,markingandothertransportationfacilitiesmaintenance,vehiclerescueandotherbusiness.Thenetprofitofthisperiodincreasedby46.4731millionyuan,or21.27%overthesameperiodlastyear.Themainreasonsfortheincreasewere:theincreaseoftrafficvolumeledtotheincreaseoftollincome;thedepreciationofGuangzhou-FoshanExpresswaywascompletelywithdrawninFebruarylastyear,andthedepreciationofroadpropertydecreasedby22.07millionyuan.2.Beijing-ZhuhaiExpresswayGuangzhuSectionCo.,Ltd.,asubsidiaryofthecompany,thecompanyowns75%ofGuangzhuSection'sequitydirectlyandindirectly.ItoperatesGuangzhou-ZhuhaiExpresswayandprovidestheserviceofrefueling,rescuingandsparepartssupplyingwiththeexpressway.Thenetprofitofthecurrentperiodincreasedby57.5706millionyuan,or9.88%,comparedwiththesameperiodlastyear.ThemainreasonfortheincreasewasthattheproceedsofassetdisposalconfirmedbyrepurchaseofZhuhaiSectionamountedto62.2315millionyuan.
3.GuangdongGuanghuiExpresswayCo.,Ltd.isajoint-stockcompanyofthecompany.Thecompanyholds30%ofGuanghuiExpressway'sequity,investsinand
buildsGuanghuiExpresswayanditssupportingfacilities;chargesandmaintenancemanagementofGuanghuiExpressway;investsanddevelopsgasstations,rescues,automobilemaintenance,automobiletransportation,cateringandwarehousingforGuanghuiExpressway.Netprofitinthecurrentperiodincreasedby29.0104millionyuan,or3.09%,comparedwiththesameperiodlastyear.Themainreasonfortheincreasewasthecombinedeffectoftheincreaseoftrafficvolumeontheincreaseoftollrevenueandthedecreaseoffinancialexpenses.
VIII.SpecialpurposevehiclecontrolledbytheCompany□Applicable√NotapplicableIX.ProspectforfuturedevelopmentoftheCompanyTheoverallgoalof2019is:toachievetheoperatingincomeof3.222billionyuanandtocontroltheoperatingcostwithin1.422billionyuan.In2019,thecompanywillfocusonthe"people-oriented,road-basedbusiness,anddiversifieddevelopment"strategicgoal,acceleratingtheimplementationoftwo-wheeldriveof"Highway+Investment",adheringtothegeneraltoneofsteadyprogress,centeringonthehighwayindustryandrelatedindustrydevelopment,thustopromotetheCompany'stransformationandupgradingandsustainabledevelopment.1.Consolidatethedevelopmentfoundationofthemainbusinessofexpresswaysandenhancethecompany'scorecompetitiveness.StepupsupervisionandcoordinationofprojectssuchasthereconstructionandexpansionprojectofthesouthsectionofFoshan-ShuikouExpresswayandHuiyanExpressway,aswellastheGuangzhudongSpecialOverhaulProject,seizetheworkobjectivesofkeylinks,promotetheconstructionprogress,andminimizetheadverseimpactonhighwaytrafficcausedbytheCompanybyprojectconstruction.PushforwardthereviewandapprovalofthereconstructionandexpansionofthsouthsectionofFokaiExpresswayandthetolloperationperiodaccordingtotheworkingideaof"overallplanningandcoordinatedpromotion",andcompletethetollstandardadjustmentandapprovalafterthecompletionofthereconstructionandexpansionprojectofFokaiExpresswaySouthsection.ActivelyTrackingInvestmentOpportunitiesofHighQualityExpresswayProjects,promotethenormalizationofthecapitaloperationofexpresswaymainbusiness,andstrengthenthemainbusinessfoundation.2.Focusontheintelligenttransportationindustryandfosternewmomentumforthecompany'sdevelopment.FullyutilizetheroleofplatformssuchastheChinaIntelligentTransportationIndustryInvestmentAlliance,activelytrackthedevelopmenttrendoftheintelligenttransportationindustry,andfocusoninvestmentopportunitiesinareassuchasexpresswaytrafficinfrastructuremanagement,intelligentmonitoring,electroniccharging,travelinformationservices,bigdatadevelopmentandapplication,vehicle-roadcollaborationandassisteddriving,trafficsafety,trafficmanagement,soastosteadilypromoteequityinvestment.GuangdongExpresswayTechnologyandYuegaoCapitalhavedevelopedtheirrespectiveprofessionalinvestmentcapabilitiesandpost-investmentmanagementcapabilitiesinintelligenttransportationresearchanddevelopmentinvestment,productioninvestment,serviceinvestment,etc.,withdivisionoflabortorealizelinkagebetweencapitalandindustry.3.Acceleratethedevelopmentoflandresourcesalongtherouteandenhancethecompany'slandvalue.EffortswillbemadetopromotetheupgradingandrenovationprojectoftheZhishanServiceAreaofFoshan-ShuikouExpressway.Researchanddemonstrationoflanddevelopmentprogramsalongtheline,andstrivetoimprovethereturnoncomprehensivelandinvestment.4.Continuouslyimprovethequalityofoperationandmanagement.Instrictaccordancewiththerequirementsofstandardization,refinementandintensificationofoperationmanagement,strengthenthestatisticsandanalysisofoperationdata,andstrivetoimprovethequalityofoperationmanagement.5.Activelyexpandfinancingchannels.TheCompanywillpaycloseattentiontothechangesinthenationalmonetarypolicy,makeaplantoconnectthedemandforfunds,thetimeofdemandandthesupplyoffunds,activelyexpandfinancingchannels,issuemedium-termnotesattherighttime,andraisefundsthroughvarious
meanssuchasinsurancecreditor'srightsfundsandbankloanstoensurethatallkindsoffundneedsaremet.6.Enterpriseriskpreventionismoreaccurate.Strengthenriskpreventionawareness,riskmanagementandinternalcontrol.Fullutilizethesupervisoryfunctionsofinternalaudit,discoverbusinessrisksinatimelymanner,increasetheuseofinspectionresults,andpromptlyurgesubordinateenterprisestoimplementrectificationandmitigaterisks.X.Listofthereceivedresearches,visitsandinterviews1.Particularsaboutresearches,visitsandinterviewsreceivedinthisreportingperiod
√Applicable□Notapplicable
Receptiontime | Wayofreception | Typesofvisitors | Basicindex |
April2,2018 | ByPhone | Organization | 1.Themaincontentofresearch:1.thedailyoperation;2.thecompany'sfinancialdataanalysis;3.developmentstrategy;4.analysisontheindustry.2.Primarydatainvestigation:Publicinformationcompanyregularlyreports |
April10,2018 | Onsiteinvestigation | Organization | 1.Themaincontentofresearch:1.thedailyoperation;2.thecompany'sfinancialdataanalysis;3.developmentstrategy;4.analysisontheindustry.2.Primarydatainvestigation:Publicinformationcompanyregularlyreports |
May2,2018 | Onsiteinvestigation | Organization | 1.Themaincontentofresearch:1.thedailyoperation;2.thecompany'sfinancialdataanalysis;3.developmentstrategy;4.analysisontheindustry.2.Primarydatainvestigation:Publicinformationcompanyregularlyreports |
May8,2018 | Onsiteinvestigation | Organization | 1.Themaincontentofresearch:1.thedailyoperation;2.thecompany'sfinancialdataanalysis;3.developmentstrategy;4.analysisontheindustry.2.Primarydatainvestigation:Publicinformationcompanyregularlyreports |
May9,2018 | Onsiteinvestigation | Organization | 1.Themaincontentofresearch:1.thedailyoperation;2.thecompany'sfinancialdataanalysis;3.developmentstrategy;4.analysisontheindustry.2.Primarydatainvestigation:Publicinformationcompanyregularlyreports |
July23,2018 | Onsiteinvestigation | Organization | 1.Themaincontentofresearch:1.thedailyoperation;2.thecompany'sfinancialdataanalysis;3.developmentstrategy;4.analysisontheindustry.2.Primarydatainvestigation:Publicinformationcompanyregularlyreports |
August28,2018 | Onsiteinvestigation | Organization | 1.Themaincontentofresearch:1.thedailyoperation;2.thecompany'sfinancialdataanalysis;3.developmentstrategy;4.analysisontheindustry.2.Primarydatainvestigation:Publicinformationcompanyregularlyreports |
October31,2018 | Onsiteinvestigation | Organization | 1.Themaincontentofresearch:1.thedailyoperation;2.thecompany'sfinancialdataanalysis;3.developmentstrategy;4.analysisontheindustry.2.Primarydatainvestigation:Publicinformationcompanyregularlyreports |
December19,2018 | Onsiteinvestigation | Organization | 1.Themaincontentofresearch:1.thedailyoperation;2.thecompany'sfinancialdataanalysis;3.developmentstrategy;4.analysisontheindustry.2.Primarydatainvestigation:Publicinformationcompanyregularlyreports |
December24,2018 | ByPhone | Organization | 1.Themaincontentofresearch:1.thedailyoperation;2.thecompany'sfinancialdataanalysis;3.developmentstrategy;4.analysisontheindustry.2.Primarydatainvestigation:Publicinformationcompanyregularlyreports |
Receptiontimes | 10 | ||
Receptionagencyamount | 45 | ||
Receptionpersonalnumber | 0 | ||
Others | 0 | ||
Whethertodisclose,revealordisclosenon-publicmaterialinformation | No |
V.ImportantEvents
I.SpecificationofprofitdistributionofcommonsharesandcapitalizingofcommonreservesFormulation,implementationandadjustmentofprofitdistributionpolicyofcommonsharesespeciallycashdividendpolicyduringthereportingperiod□Applicable√NotapplicableTheprofitdistributionpreplanorproposalandthePlan(preplan)orproposalofconversionofthecapitalreserveintosharecapitalinthepastthreeyears(withthereportingperiodinclusive):
(1)TheCompany'sprofitdistributionplanfor2016isasfollows:
1.10%ofthenetprofitofthecompany,i.e.71,314,278.93yuan,istobeallocatedforstatutorycommonreservefund.
2.Theprofitfor2016istobedistributedasfollows:702,510,858.34yuan.istobeallocatedasthefundfordividenddistributionfor2016.withthetotalsharesattheendof2016,i.e.,2,090,806,126shares,asthebase,cashdividendof3.36yuan(includingtax)istobedistributedforevery10shares.Theremainingundistributedprofitsaretobecarriedforwardtothenextyear.TheforeignexchangetranslationofthecashdividendsforshareholdersholdingBshareandoverseascorporateshareswillbedeterminedaccordingtoHKD:RMBbank’sMiddleratequotedbyPeople’sBankofChinaonthefirstworkingdayafter2016annualshareholders’generalmeetingmakesresolutionondividenddistribution.
(2)TheCompany'sprofitdistributionplanfor2017isasfollows:
1.10%ofthenetprofitofthecompany,i.e.177,864,580.14yuan,istobeallocatedforstatutorycommonreservefund.
2.Theprofitfor2017istobedistributedasfollows:1,057,947,899.76yuan.istobeallocatedasthefundfordividenddistributionfor2017.withthetotalsharesattheendof2017,i.e.,2,090,806,126shares,asthebase,cashdividendof5.06yuan(includingtax)istobedistributedforevery10shares.Theremainingundistributedprofitsaretobecarriedforwardtothenextyear.TheforeignexchangetranslationofthecashdividendsforshareholdersholdingBshareandoverseascorporateshareswillbedeterminedaccordingtoHKD:RMBbank’sMiddleratequotedbyPeople’sBankofChinaonthefirstworkingdayafter2017annualshareholders’generalmeetingmakesresolutionondividenddistribution.
(3)TheCompany'sprofitdistributionpreplanfor2018isasfollows:
1.10%ofthenetprofitofthecompany,i.e.230,581,431.32yuan,istobeallocatedforstatutorycommonreservefund.
2.Theprofitfor2018istobedistributedasfollows:1,175,033,042.81yuan.istobeallocatedasthefundfordividenddistributionfor2018.withthetotalsharesattheendof2018,i.e.,2,090,806,126shares,asthebase,cashdividendof5.62yuan(includingtax)istobedistributedforevery10shares.Theremainingundistributedprofitsaretobecarriedforwardtothenextyear.TheforeignexchangetranslationofthecashdividendsforshareholdersholdingBshareandoverseascorporateshareswillbedeterminedaccordingtoHKD:RMBbank’sMiddleratequotedbyPeople’sBankofChinaonthefirstworkingdayafter2018annualshareholders’generalmeetingmakes
resolutionondividenddistribution.
Dividenddistributionofthelatestthreeyears
InRMB
Yearforbonusshares | Amountforcashbonus(taxincluded) | Netprofitattributabletocommonstockshareholdersoflistedcompanyinconsolidationstatementforbonusyear | Ratioofthecashbonusinnetprofitattributabletocommonstockshareholdersoflistedcompanycontainedinconsolidationstatement | Proportionforcashbonusbyotherways(i.e.sharebuy-backs) | Ratioofthecashbonusbyotherwaysinnetprofitattributabletocommonstockshareholdersoflistedcompanycontainedinconsolidationstatement | Totalcashbonus(otherwaysincluded) | Ratioofthetotalcashbonus(otherwaysincluded)innetprofitattributabletocommonstockshareholdersoflistedcompanycontainedinconsolidationstatement |
2018 | 1,175,033,042.81 | 1,677,028,179.18 | 70.07% | 0.00 | 0.00% | 1,175,033,042.81 | 70.07% |
2017 | 1,057,947,899.76 | 1,509,922,398.70 | 70.07% | 0.00 | 0.00% | 1,057,947,899.76 | 70.07% |
2016 | 702,510,858.34 | 1,001,205,945.39 | 70.17% | 0.00 | 0.00% | 702,510,858.34 | 70.17% |
Inthereportingperiod,boththeCompany’sprofitandtheparentcompany’sretainedearningswerepositivehowevernotcashdividenddistributionproposalhasbeenputforward.□Applicable√Notapplicable
II.ProfitdistributionplanandcapitalizingofcommonreservesplanforthePeriod√Applicable□Notapplicable
Bonussharesforeverytenshares(Shares) | 0 |
Cashdividendforeverytenshares(Yuan)(Tax-included) | 5.62 |
Distributeadditional(shares)for10shares | 0 |
Atotalnumberofsharesasthedistributionbasis(shares) | 2,090,806,126 |
Cashdividendamount(yuan,includingtax | 1,175,033,042.81 |
Othermeans(suchasrepurchaseofshares)cashdividendamount(yuan) | 0.00 |
Totalcashdividend(yuan,includingtax) | 1,175,033,042.81 |
Distributableprofit(yuan) | 3,680,165,040.86 |
Proportionofcashdividendinthedistributableprofit | 100% |
Cashdividenddistributionpolicy | |
TheCompanyisinafastgrowthstage,therefore,thecashdividendwillreach80%oftheprofitdistributionatleast.Cashdividenddistributionpolicy. | |
Detailsofprofitdistributionorreservecapitalizationplan | |
1.10%ofthenetprofitofthecompany,i.e.RMB230,581,431.32,istobeallocatedforstatutorycommonreservefund.2.Theprofitfor2018istobedistributedasfollows:1,175,033,042.81yuan.istobeallocatedasthefundfordividenddistributionfor2018.withthetotalsharesattheendof2018,i.e.,2,090,806,126shares,asthebase,cashdividendof5.62yuan(includingtax)istobedistributedforevery10shares.Theremainingundistributedprofitsaretobecarriedforwardtothenextyear.TheforeignexchangetranslationofthecashdividendsforshareholdersholdingBshareandoverseascorporateshareswillbedetermined |
III.Commitmentstofulfillthesituation1.Thefulfilledcommitmentsinthereportingperiodandunder-fulfillmentcommitmentsbytheendofthereportingperiodmadebythecompany,shareholder,actualcontroller,acquirer,director,supervisor,seniormanagementpersonnelandotherrelatedparities.
√Applicable□Notapplicable
Commitment | Commitmentmaker | Type | Contents | Timeofmakingcommitment | Periodofcommitment | Fulfillment |
Commitmentonsharereform | ||||||
Commitmentintheacquisitionreportorthereportonequitychanges | ||||||
Commitmentmadeupontheassetsreplacement | GuangfaSecuritiesCo.,Ltd.,TibetYingyueInvestmentManagementCo.,Ltd.,YadongFuxingYalianInvestmentCo.,Ltd. | Sharelimitedcommitment | GuangdongExpresswayAsharesacquiredbytheCompanythroughsubscriptioninthismajorassetreorganizationcannotbetransferredorlistedfortransactionwithinthirty-sixmonthsfromthedateofthecompletionofthesharesissuanceinthismajorassetreorganization.Upontheexpiryofthelock-upperiod,thetransferandtransactionoftheseshareswillbemadeinaccordancewiththeeffectivelawsandregulations,andrelevantprovisionsofCSRSandShenzhenStockExchange(SSE). | June18,2015 | Thedateoftheexpirationofthesharelock. | Fulfillthecommitmentnormally |
GuangdongExpresswayCo.,Ltd.,GuangdongHighwayConstructionCo.,Ltd.,GuangdongCommunicationGroupCo.,Ltd. | Sharelimitedcommitment | GuangdongExpresswayAsharesacquiredbytheCompanythroughsubscriptioninthismajorassetreorganizationcannotbetransferredorlistedfortransactionwithinthirty-sixmonthsfromthedateofthecompletionofthesharesissuanceinthismajorassetreorganization.Upontheexpiryofthelock-upperiod,thetransferandtransactionoftheseshareswillbemadeinaccordancewiththeeffectivelawsandregulations,andrelevantprovisionsofCSRSandShenzhenStockExchange(SSE).Uponthecompletionofthismajorassetreorganization,iftheclosingpriceoftheA-shareofGuangdongExpresswayisbelowtheissuepricefor20consecutivetradingdayswithinsixmonths,orattheendofsixmonthsafterthecompletion | June26,2015 | Thedateoftheexpirationofthesharelock. | Fulfillthecommitmentnormally |
Commitment | Commitmentmaker | Type | Contents | Timeofmakingcommitment | Periodofcommitment | Fulfillment |
ofthetransactiontheclosingpriceisbelowtheissueprice,thelock-upperiodoftheA-shareofGuangdongExpresswayacquiredbytheCompanythroughthismajorassetreorganizationwillbeautomaticallyextendedforsixmonths. | ||||||
GuangdongExpresswayCo.,Ltd. | Performancecommitmentsandcompensationarrangements | UponthemutualagreementbytheCompanyandtheGuangdongExpresswayCo.,Ltd.,thepredictedannualnetprofitoftheGuangzhouFokaiExpresswayCo.,Ltd.is250.6973millionyuanin2016,2690.0802millionyuanin2017,and403.1197millionyuanin2018,Thenon-recurringprofitandlossintotalis105.5743millionyuanthroughaccumulatedprediction.Withinthecompensationperiod,ifGuangdongFokaiExpresswayCo.,Ltd.achievestheaccumulatednetprofitattheendofoneyearlowerthantheaccumulatedpredictednetprofitofsuchyear,thecompanywill,basedonsharesneedingcompensationthroughcalculatedanddeterminedsubjecttotheAgreement,buybackthemby1yuanfromGuangdongFokaiExpresswayCo.,Ltd.andcancelthemandGuangdongExpresswayCo.,Ltd.shallcompensateincashforthesharepartinshort.Uponthecompensationperiodexpiration,iftheactualaccumulatednon-recurringprofitandloss(meansthecompensationgrantedwithinthecompensationperiodbythegovernmentalsectortoGuangdongFokaiExpresswayCo.,Ltd.forJiujiangBridgechargingcancel,hereinafterreferredtoas“compensationamountforJiujiangbridge”)ofGuangdongFokaiExpresswayCo.,Ltd.islowerthanaccumulatedpredictednon-recurringprofitandloss,GuangdongExpresswayCo.,Ltd.will,subjecttoitsshareholdingratioinGuangdongFokaiExpresswayCo.,Ltd.beforethemajorassetsrestructuringimplementation,compensatethecompanyincashpertheagreement;afterthecompensationperiodexpiration,uponGuangdongFokaiExpresswayCo.,Ltd.acceptanceofJiujiangbridgecompensationeachtime,thecompanyshallrefundthecorrespondingpartamongthecompensationpaidsubjecttotheagreementbyGuangdongExpresswayCo.,Ltd.within30workdaysafterGuangdongFokaiExpresswayCo.,Ltd.receivessuchcompensation. | August26,2015 | Theperiodofcompensationandthedateofcompletionoftheagreement. | Fulfillthecommitmentnormally | |
GuangdongHighwayConstructionCo.,Ltd. | Performancecommitment | UponthemutualagreementbytheCompanyandtheGuangdongProvincialHighwayConstructionCo.,Ltd.,thepredictedannualnetprofitoftheGuangzhouGuangzhuTraffic | August26,2015 | Theperiodofcompensation | Fulfillthecommitment |
Commitment | Commitmentmaker | Type | Contents | Timeofmakingcommitment | Periodofcommitment | Fulfillment |
sandcompensationarrangements | InvestmentManagementCo.,Ltd.is230.3606millionyuanin2016,263.2329millionyuanin2017,and286.5018millionyuanin2018.Withinthetermofcompensation,ifthecumulatednetprofitofGuangzhouGuangzhuTransportationInvestmentManagementCo.,Ltd.bytheendofayearislowerthantheaccumulatedpredictednetprofitofthatyear,theCompanywillbuybackthecompensatedsharesatthepriceof1yuanfromtheGuangzhouGuangzhuTransportationInvestmentManagementCo.,Ltd.thatshouldbecalculatedinaccordancewiththeagreement,andderegistersuchshares. | andthedateofcompletionoftheagreement. | normally | |||
GuangdongExpresswayCo.,Ltd.,GuangdongHighwayConstructionCo.,Ltd.,GuangdongCommunicationGroupCo.,Ltd. | Commitmentsonhorizontalcompetition,relatedtransactionandcapitaloccupation | Thecommitmenttoavoidhorizontalcompetition:1.theCompanyandthecompaniesthatareunderdirectorindirectcontroloftheCompany,exceptGuangdongExpresswayanditssubsidiaries,willnotusethecontrollingshareholderstodamagethelegitimateinterestsofthebusinessactivitiesofGuangdongExpresswayanditsmediumandsmallshareholdersanditssubsidiaries.2.TheCompanyandthecompaniesthatareunderdirectorindirectcontroloftheCompany,exceptGuangdongExpresswayanditssubsidiaries,willnotusetheinformationacquiredfromGuangdongExpresswayanditssubsidiariestoengageincorebusinesswhichcompeteswithGuangdongExpresswayanditssubsidiariesandwillnotconductanyactivitythatdamagesormaydamagethelegitimateinterestsofGuangdongExpresswayanditsmediumandsmallshareholdersanditssubsidiaries.3.Asforthetransferoftollroads,bridges,tunnelsandrelatedancillaryfacilitiesorequityinvested,constructedormanagedbytheCompanyorcompanies,thatareunderdirectorindirectcontroloftheCompany,exceptGuangdongExpresswayanditssubsidiariestotheCompanyoranycompanythatisunderdirectorindirectcontrolofthecompany,unlessitisatransfereeexpresslydesignatedbytherelevantgovernmentdepartments,totheextentpermittedbyrelevantlawsandregulations,GuangdongExpresswayhastherightofpreemptionunderthesameconditions.4.Inthefuture,iftheCompanyandthecompaniesthatareunderdirectorindirectcontroloftheCompany,exceptGuangdongExpresswayanditssubsidiaries,investandconstructaparallelhighwayorahighwayinthesamedirectiononeithersideoftheHighwaywithin20km,totheextentpermittedbyrelevantlawsandregulations,exceptintheprojectwhoseinvestorshavebeenexpresslyspecifiedbytherelevantgovernment | June26,2015 | ThiscommitmentisvalidfromthedateofsigningthisletterofcommitmenttothedateonwhichthesharesofCompanyisnolongercontrolledbythecontrollingshareholderoftheGuangdongExpressway. | Fulfillthecommitmentnormally |
Commitment | Commitmentmaker | Type | Contents | Timeofmakingcommitment | Periodofcommitment | Fulfillment |
departments,GuangdongExpresswayhasthepriorityrighttoinvestaheadoftheCompanyandthecompaniesthatareunderdirectorindirectcontroloftheCompany,exceptGuangdongExpresswayanditssubsidiaries,.Thiscommitment,whensigned,constitutestheirrevocablelegalobligationsoftheCompany.IfthecircumstancesarisethatcausedamagetoGuangdongExpresswaybecauseoftheCompany’sbreachofthecommitment,theCompanywillbearthecorrespondingliabilityaccordingtolaws.Thecommitmenttoreduceandregulatetheconnectedtransactions:1.Afterthecompletionofthismajorassetreorganization,theCompanyandthecompaniesthatareunderdirectorindirectcontroloftheCompany,exceptGuangdongExpresswayanditssubsidiaries,andotherrelatedpartieswilltrytoavoidtheconnectedtransactionwithGuangdongExpresswayanditssubsidiaries;thenecessaryandunavoidableconnectedtransactionsshallbeconductedinaccordancewiththeprinciplesoffairnessandcompensationofequalvalue,thetransactionpricesshallbedeterminedaccordingtothereasonablemarketprice,thetransactionapprovalproceduresandthedisclosureobligationsshouldbeconductedinaccordancewithrelevantlaws,regulationsandregulatorydocuments,toeffectivelyprotecttheinterestsofmediumandsmallshareholdersofGuangdongExpressway.2.TheCompanyguaranteestobeinstrictaccordancewithrelevantlawsandregulations,theregulationsandregulatorydocumentspromulgatedbyCSRC,thebusinessrulespromulgatedbyShenzhenStockExchange(SSE)andtherulesofthesystemsuchastheArticlesofAssociationofGuangdongProvincialExpresswayDevelopmentCo.,Ltd.,exercisetheshareholderrightsandfulfilltheobligationsofshareholdersaccordingtolaws,withoutusingcontrollingshareholders’holdingpositiontoseekimproperinterests,withoutdamagetothelegitimaterightsandinterestsofGuangdongExpresswayanditsmediumandsmallshareholders.Onceinviolationoftheabove-statedcommitment,thecompanyconductsatransactionwithGuangdongExpresswayanditssubsidiaries,causingdamagestothem,itshallbeartheliabilityforcompensationaccordingtolaws.ThedateofthiscommitmentisvalidfromthedateofsigningtheletterofcommitmenttothedateoftheCompany'sceasingtobecontrolledbythecontrollingshareholderoftheCompany. |
Commitment | Commitmentmaker | Type | Contents | Timeofmakingcommitment | Periodofcommitment | Fulfillment |
GuangdongCommunicationGroupCo.,Ltd. | Othercommitment | (1)Thecommitmenttotheauthenticity,accuracyandcompletenessoftheinformationprovided:1.TheCompanyguaranteestoprovidetheinformationrelatedtothemajorassetreorganizationforGuangdongExpresswayandensuresitsauthenticity,accuracyandcompleteness;ifthereisfalse,misleadingstatementormajoromissionintheinformationprovided,whichcauseslossestoGuangdongExpresswayortheinvestors,theCompanywillassumethecompensationliabilitiesinaccordancewithlaws.Ifitissuspectedthatthereisfalse,misleadingstatementormajoromissionintheinformationdisclosedorprovidedforthemajorassetreorganization,anditisinvestigatedbythejudiciaryauthoritiesorbyCSRC,beforetheclearconclusionofthecaseisreached,theCompanywillsuspendthetransferofsharesofGuangdongExpresswayheldbytheCompany,andwithintwobusinessdaysuponreceiptofthenoticeoffilingacaseandinspection,thewrittenapplicationforsuspendingthetransferandthestockaccountshouldbesubmittedtotheBoardofDirectorsofGuangdongExpressway,andtheBoardofDirectorsofGuangdongExpressway,shall,onbehalfoftheCompanyapplyforthelockouttowardsShenzhenSecuritiesExchange(SSE)andRegistrationandClearingCompany;iftheapplicationforthelockoutisnotsubmittedintwobusinessdays,afterverificationtheBoardofDirectorsauthorizedbytheCompanywilldirectlysubmitstheCompany’sidentityandaccountinformationtotheRegistrationandClearingCompanyandapplyforthelockout;iftheBoardofDirectorsfailstodoso,theSecuritiesExchangeandtheRegistrationandClearingCompanywillbeauthorizedtodirectlylocktherelatedshares.IfitisfoundthattheCompanyhasillegalcircumstances,thecompanypromisesthatthelockoutsharesshouldbeautomaticallyusedforthecompensationfortherelevantinvestors.(2)Thecommitmenttomaintaintheindependenceofthelistedcompany.TheCompanyandthecompanies,thatareunderdirectorindirectcontroloftheCompany,exceptGuangdongExpresswayanditsholdingsubsidiaries,haveincreasedtheirsharesofGuangdongExpresswayafterthecompletionofthemajorassetreorganization;howevertheywillnotdamagetheindependenceofGuangdongExpressway.TheywillcontinuetobeseparatedfromGuangdongExpresswayinassets,personnel,finance,organizationandbusinessandstrictlyabidebytherelevantprovisionsontheindependenceoflistedcompanies | June18,2015 | (1)apromisewithoutacommitmentperiod.(2)thedateofthevalidityofthetermcommitmentfromthedateofthisletterofcommitmenttothedateofthecompanynolongeristhedateofthecontrollingshareholderofGuangdong.(3)thedateofthevalidityofthetermcommitmenttothecompletionofthecompletionofthecompletionof | Fulfillthecommitmentnormally |
Commitment | Commitmentmaker | Type | Contents | Timeofmakingcommitment | Periodofcommitment | Fulfillment |
ofCSRC.Theydon’tillegallyuseGuangdongExpresswaytoprovideguarantee,oroccupyitscapitalsoastokeepandmaintainitsindependenceandsafeguardthelegitimaterightsandinterestsofothershareholdersofGuangdongExpressway.AlllosseswillbebornebytheCompanyifitbreakstheabovecommitmentsandcauseslossestoGuangdongExpressway. | themajorassetrestructuring. | |||||
GuangdongHighwayConstructionCo.,Ltd.,GuangdongExpresswayCo.,Ltd. | Othercommitment | (1)Thecommitmenttotheauthenticity,accuracyandcompletenessoftheinformationprovided:TheCompanyguaranteesthatthereisnofalse,misleadingstatementormajoromissionintheinformationdisclosureandapplicationdocumentsforthemajorassetreorganization.Ifitissuspectedthatthereisfalse,misleadingstatementormajoromissionintheinformationdisclosedorprovidedforthemajorassetreorganization,anditisinvestigatedbythejudiciaryauthoritiesorbyCSRC,beforetheclearconclusionofthecaseisreached,theCompanywillsuspendthetransferofsharesofGuangdongExpresswayheldbytheCompany,andwithintwobusinessdaysuponreceiptofthenoticeoffilingacaseandinspection,thewrittenapplicationforsuspendingthetransferandthestockaccountshouldbesubmittedtotheBoardofDirectorsofGuangdongExpressway,andtheBoardofDirectorsofGuangdongExpressway,shall,onbehalfoftheCompany,applyforthelockouttowardsShenzhenSecuritiesExchange(SSE)andRegistrationandClearingCompany;iftheapplicationforthelockoutisnotsubmittedwithintwobusinessdays,afterverificationtheBoardofDirectorsauthorizedbytheCompanywilldirectlysubmitstheCompany’sidentityandaccountinformationtotheRegistrationandClearingCompanyandapplyforthelockout;iftheBoardofDirectorsfailstodoso,theSecuritiesExchangeandtheRegistrationandClearingCompanywillbeauthorizedtodirectlylocktherelatedshares.IfitisfoundthattheCompanyhasillegalcircumstances,theCompanypromisesthatthelockoutsharesshouldbeautomaticallyusedforthecompensationfortherelevantinvestors.(2)Thecommitmenttomaintaintheindependenceofthelistedcompany.TheCompanyandthecompanies,thatareunderdirectorindirectcontroloftheCompany,exceptGuangdongExpresswayanditssubsidiaries,haveincreasedtheirsharesofGuangdongExpresswayafterthecompletionofthemajorassetreorganization;howevertheywillnotdamagetheindependenceofGuangdongExpressway.TheywillcontinuetobeseparatedfromGuangdongExpresswayin | June26,2015 | (1)apromisewithoutacommitmentperiod.(2)thedateofthevalidityofthetermcommitmentfromthedateofthisletterofcommitmenttothedateofthecompanynolongeristhedateofthecontrollingshareholderofGuangdong.(3)thedateofthevalidityofthetermcommitmenttothe | Fulfillthecommitmentnormally |
Commitment | Commitmentmaker | Type | Contents | Timeofmakingcommitment | Periodofcommitment | Fulfillment |
assets,personnel,finance,organizationandbusinessandstrictlyabidebytherelevantprovisionsontheindependenceoflistedcompaniesofCSRC.TheywillnotillegallyuseGuangdongExpresswaytoprovideguarantee,oroccupyitscapital,andtheywillkeepandmaintaintheitsindependenceandsafeguardthelegitimaterightsandinterestsofothershareholdersofit.(3)Thecompanyconfirmedandguaranteed:1,thecompanysetupandeffectivelyexistinaccordancewiththelawoftheenterprise,thecompanyhasanindependentlegalpersonality,independentoftheabilitytoassumelegalresponsibility.2,asthecommitmentletterissuedbytheJapanese,thecompanydoesnotexistinthelistedcompanyacquisitionmanagementapproach"theprovisionsofArticle6oftheacquisitionofalistedcompanymaynotbeunderanyofthefollowingcircumstances:(1)bearsarelativelylargeamountofdebt,dueandoutstanding,andinpersistentstate;(2)inrecent3years,havemajorviolationsorsuspectedofmajorviolations;(3)inrecent3years,haveseverestockmarketactsofdishonesty;(4)thelaws,administrativeregulationsandrecognizedbytheCSRCshallnotpurchaseofListedCompaniesinothercircumstances.Thiscommitmentisissuedtothecompletionofthereorganizationbefore,ifthecompanydoesnotconformtothefactthatthesecommitments,thecompanythatwillbeoccurringinthefacts,fromwithin3daysnoticeofGuangdongexpressway,otherwiseitwillbearincurredinthefulllegalresponsibility. | completionofthecompletionofthecompletionofthemajorassetrestructuring. | |||||
GuangdongCommunicationGroupCo.,Ltd. | Othercommitment | GuangdongCommunicationGroupCo.,Ltd.commits:forthelands,realestatesandallocatedlandsforwhichtheGuangdongFokaiExpresswayCo.,Ltd.andGuangzhuSectionofJingzhuExpresswayCo.,Ltd.havenotgonethroughtheproceduresofownershipregistration(1)thepropertyrightsoftheabove-mentionedlandsareclear,andcanbelegallyusedbythetargetcompany;(2)assistorasktheGuangdongHighwayCo.,Ltd.andGuangdongHighwayConstructionCo.,Ltdtoassistinconductingtheownershipregistrationoftherealestates;(3)thelandcancontinuetobeusedunscathedbeforetheownershipregistration;(4)oncelossesarise,bearthelossesofGuangdongExpresswayaccordingtoitsshareholdingratio. | January19,2016 | Relatedland,realestatemanagementauthoritycertificateorrelatedlandtocompletethetransferproceduresoftheday. | Fulfillthecommitmentnormally |
Commitment | Commitmentmaker | Type | Contents | Timeofmakingcommitment | Periodofcommitment | Fulfillment |
GuangdongCommunicationGroupCo.,Ltd. | Othercommitment | Infavorofsafeguardingtheinterestsoflistedcompaniesunderthesituation,willurgetheFokaicompanyandGuangzhouZhuhaieastcompanyinaccordancewiththefollowingplanregistration:1,hireaprofessionalorganization,therelevantlandandrealestateinformationforfurtherscreeningandcombing,andfurthertofindoutthemanagementproblemsanddifficultiesrelatingtolandandpropertymanagementauthoritytoprovetheexistenceofthe2;theestablishmentoflandandrealestateregistrationworkgroup,andhireaprofessionalagency,organizeandimprovetherelevantlandandrealestateregistrationdocuments;3,toacceleratetheprocessingspeed,thecompletionof3yearsfortherelevantlandandrealestateregistrationformalitiescompletedinthismajorassetrestructuring,which,forGuangzhouZhuhaieastcompanyinGuangzhouCity,theadministrativeareaofZhuhaicityhavenotfortherelevantcertificateofownershipoflandandrealestate(thepartoftheland,realestateIfnotcoveredbytheletterofconfirmationoftherelevantgovernment,theregistrationproceduresshallbecompletedwithin3yearsfromthedateofthecompletionofthismajorassetreorganization. | July19,2017 | within3yearsfromthedateofcompletionofthereorganizedunderlyingassettransfer | Fulfillthecommitmentnormally | |
Commitmentsmadeuponfirstissuanceorrefinance | ||||||
Equityincentivecommitment | ||||||
Othercommitmentsmadetominorityshareholders | ||||||
Completedontime(Y/N) | No |
Commitment | Commitmentmaker | Type | Contents | Timeofmakingcommitment | Periodofcommitment | Fulfillment |
Wherethecommitmentisoverdueandhasnotbeenfulfilled,thenthespecificreasonsforthefailuretocompleteandthenextworkplanshallbespecified | Throughthedeliberationandapprovalofthe11thtemporarymeetingofthe8thBoardofDirectorsandthe1sttemporarygeneralmeetingofshareholdersin2017,itagreesonthechangeofGuangdongTrafficGroupCo.,Ltd.commitmentsaboutrelevantlandandhousinghandlingtheownershipregistrationproceduresoftheassetreorganizationsubjectGuangdongFokaiExpresswayCo.,Ltd.andJingzhuExpresswayGuangzhuSectionCo.,Ltd.amongmajorassetsreorganizationforwhich,thecompanyissuesshares,payforassetspurchaseincashandcollectthesupportingcapitalin2016.Thesameaboveischangedintothattospeedupthecertificatehandlingandtocompletehandlingofrelevantownershipregistrationproceduresrelatedtothelandandhousingwithin3yearsaftersuchmajorassetsreorganization,amongwhich,theownershipregistrationproceduresoftherelevantlandandhousing(excludedbyrelevantgovernmentalconfirmationletters)ofGuangzhudongcompanyinGuangzhouandZhuhaiadministrativeregions,whicharenotequippedwiththeownershipcertificates,shallalsobecompletedwithinthesametimeabove.RefertotheAnnouncementontheCompletionProgressConditionoftheMajorAssetsReorganizationCommitmentsandtheCompletionPeriodoftheDominantShareholder’sApplicationforChangingPartialCommitmentsandAnnouncementoftheResolutionofthe11thSession(Temporary)ofthe8thBoardofDirectorsonJuly4,2017andtheAnnouncementoftheResolutionofthe1stTemporaryGeneralMeetingofShareholdersonJuly20,2017ofthecompanyonSecuritiesTimes,ChinaSecuritiesJournalandShanghaiSecuritiesNewsfordetailsaboutthepartialcommitmentschange. |
2.Theexistenceofthecompany'sassetsorprojectsearningsforecastsandearningsreportingperiodisstillintheforecastperiod,thecompanyhasassetsorprojectsmeettheoriginalprofitforecastmadeandthereasonsexplained√Applicable□Notapplicable
AssetorProjectNameofEarningsForecast | Startdateoftheforecastingperiod | Enddateoftheforecastingperiod | Forecastearnings | Actualearnings | Reasonforlessthanforecast | DisclosuredateoftheForecast | ReferencefortheForecast |
FokaiExpresswayCo.,Ltd. | January1,2016 | December31,2018 | 40,311.97 | 37,376.11 | ThepartofthereconstructionandexpansionprojectofSanbao-ShuikousectionofFokaiExpresswaywasopenedtotrafficaheadofscheduleandconvertedtofixedassets,anddepreciationincreased. | July7,2016 | www.cninfi.com.cn.Announcementonmattersrelatedtomajorassetrestructuringcommitments |
GuangzhouGuangzhuTrafficInvestmentManagementCo.,Ltd. | January1,2016 | December31,2018 | 28,650.18 | 32,475.62 | Notapplicable | July7,2016 | www.cninfi.com.cn.Announcementonmattersrelatedtomajorassetrestructuringcommitments |
Note:Duringtheperiodofprofitcompensation,thatis,from2016to2018,thecumulativenetprofitexceedingthecumulativeforecastnetprofitamountis60.7385millionyuan,andthecumulativenetprofitcommitmentcompletionrateis106.65%.Fordetailedinformationonperformancecommitmentsandcompensationcommitments,pleaserefertothecompany'sNoticeonCommitmentsRelatedtoMajorAssetRestructuring.
Thecommitmentsoftheoperatingearningsmadebythecompany’sshareholderandrelevanttransactionparties□Applicable√NotapplicableAchievementofperformancecommitmentsanditsimpactongoodwillimpairmenttests.
IV.Particularsaboutthenon-operatingoccupationoffundsbythecontrollingshareholder□Applicable√Notapplicable
Nil
V.ExplanationoftheSupervisoryCommitteeandIndependentDirectors(Ifapplicable)ontheQualified
Auditor’sReportIssuedbytheCPAs.□Applicable√Notapplicable
VI.Explainchangeoftheaccountingpolicy,accountingestimateandmeasurementmethodsascomparedwiththefinancialreportingoflastyear.
√Applicable□Notapplicable
OnJune26,2018,TheMinistryofFinanceissuedtheNoticeonRevisingandIssuingtheFormatofGeneralEnterpriseFinancialStatementsfor2018(Caikuai[2018]No.15),whichadjustedtheformatofenterprisefinancialstatementsaccordinglyandmergedtheoriginal"notesreceivable"and"accountsreceivable"lineitemsinto"notesreceivableandaccountsreceivable";Theitemsintheoriginal"interestreceivable","dividendreceivable"and"otherreceivables"linesaremergedinto"otherreceivables";Theitemsintheoriginal"fixedassets"and"fixedassetsliquidation"linesaremergedinto"fixedassets";Theitemsintheoriginal"engineeringmaterials"and"constructioninprogress"linesaremergedinto"constructioninprogress";Theitemsintheoriginal"notespayable"and"accountspayable"linesaremergedinto"notespayableandaccountspayable";Theitemsintheoriginal"interestpayable","dividendpayable"and"otherpayables"linesaremergedinto"otherpayables";Theitemsintheoriginal"long-termpayables"and"specialpayables"linesaremergedinto"long-termpayables";Intheincomestatement,thedetaileditemsof"managementexpenses"and"researchanddevelopmentexpenses"arebrokendownundertheitemof"managementexpenses";Thedetaileditemsof"interestexpense"and"interestincome"arebrokendownunder"financialexpense"intheincomestatement.TheCompanyadoptsretrospectiveadjustmentmethodforthisaccountingpolicychange,andretroactivelyadjuststheitemsreportedin2017financialstatements.VII.Explainretrospectiverestatementduetocorrectionofsignificantaccountingerrorsinthereportingperiod□Applicable√NotapplicableNilVIII.Explainchangeoftheconsolidationscopeascomparedwiththefinancialreportingoflastyear.√Applicable□Notapplicable
TheCompanyhad5subsidiariesincludedinthescopeofconsolidationin2018.Thescopeoftheconsolidatedfinancialstatementsdecreasedby1comparedwiththepreviousperiod-forhavingthewriteoffsubsidiary.InAugust2018,GuangdongFokaiExpresswayCo.,Ltd.completedtheindustrialandcommercialcancellation,andobtainedthe“NoticeofApprovalforCancellationRegistration”andthe“NoticeofPermitforCancellationRegistration”.FromAugust2018,GuangdongFokaiExpresswayCo.,Ltd.wasnolongerincludedinthescopeofconsolidatedstatements.IX.Engagement/DisengagementofCPAsCPAscurrentlyengaged
NameofthedomesticCPAs | ZhengzhongZhujiangCertifiedPublicAccountantsCo.,Ltd. |
Remunerationfordomesticaccountingfirm(Tenthousandsyuan) | 120 |
SuccessiveyearsofthedomesticCPAsofferingauditingservices | 8 |
NameofdomesticCPA | FengKuncong,XuJihong |
ContinuousfixednumberofyearfortheauditingserviceprovidedbyCPAindomesticCPAFirms | FengKuncong(3years),XuJihong(4years) |
HastheCPAsbeenchangedinthecurrentperiod□Yes√NoDescriptionoftheCPAs,financialadviserorsponsorengagedforinternalcontrolauditing√Applicable□Notapplicable2017shareholders'generalmeetingoftheCompanyexaminedandadoptedtheProposalforEngagingAuditingBodyforInternalControl.TheCompanywasapprovedtoengageGuangdongZhengzhongZhujiangCertifiedPublicAccountantsCo.,Ltd.astheauditingbodyforinternalcontroloftheCompanyfor2018.Theauditfeeshallbelessthan300,000yuan.X.SituationofFacingListingSuspensionandListingTerminationaftertheDisclosureoftheYearlyReport□Applicable√NotapplicableXI.RelevantMattersofBankruptcyReorganization□Applicable√Notapplicable
Nil
XII.MattersofImportantLawsuitandArbitration□Applicable√Notapplicable
Nil
XIII.SituationofPunishmentandRectification□Applicable√Notapplicable
Nil
XIV.CreditConditionoftheCompanyanditsControllingShareholdersandActualControllers□Applicable√NotapplicableXV.ImplementationSituationofStockIncentivePlanoftheCompany,EmployeeStockOwnershipPlanorOtherEmployeeIncentiveMeasures□Applicable√Notapplicable
Nil
XVI.Materialrelatedtransactions1.Relatedtransactionsinconnectionwithdailyoperation□Applicable√Notapplicable
Nil
2.Related-partytransactionsarisingfromassetacquisitionorsale□Applicable√NotapplicableNil3.Related-partytransitionswithjointinvestments□Applicable√NotapplicableNil4.Creditsandliabilitieswithrelatedparties√Applicable□Notapplicable
Therearenon-operationalcontactofrelatedcreditanddebtsintheCompany□Yes√NoNil
5.Othersignificantrelated-partytransactions
√Applicable□Notapplicable
1.The16th(provisional)meetingoftheEighthboardofdirectorsoftheCompanyexaminedandadoptedtheProposalaboutSingingtheContractofEntrustmentofOperationandManagementof2018-2020ofGuangzhuNorthSectionofGuangdongJingzhuExpresswaybetweentheGuangzhuSectionCompanyandtheGuangzhuNorthSectionCompany.AgreedthatJingzhuExpresswayGuangzhuSectionCo.,LtdsignstheContractofEntrustmentofOperationandManagementof2018-2020ofGuangzhuNorthSectionofGuangdongJingzhuExpresswaywiththeGuangdongJingzhuExpresswayGuangzhuNorthSectionCo.,Ltd,withthetotalcontractamountnotexceeding60millionyuan.2.The16th(provisional)meetingoftheEighthboardofdirectorsoftheCompanyexaminedandadoptedtheProposalabouttheEntrustmentofLeaseandOperationofCommunicationPipealongtheExpresswaysofGuangdongProvincialExpresswayDevelopmentCo.,Ltd’sHoldingSubsidiariesandBranchCompany.AgreedthatOursubsidiaries-GuangfoExpresswayCo.,LtdandJingzhuExpresswayGuangzhuSectionCo.,Ltdandourbranchcompany-GuangdongProvincialExpresswayDevelopmentCo.,LtdFokaiBranchsigntheCommunicationPipelineLeaseContractwiththeGuangdongLitongTechnologyInvestmentCo.,Ltd,whichistoentrustthecommunicationpipeline(includingmainline,ramp,structureandauxiliaryfacilities)alongtheexpresswayunderthejurisdictiontoGuangdongLitongTechnologyInvestmentCo.,Ltdforexternalleaseandmaintenance,withthetotalleaseincomeofabout79.27millionyuan.
3.The16th(provisional)meetingoftheEighthboardofdirectorsoftheCompanyexaminedandadoptedtheProposalofSigningtheContractofOperationEntrustmentofUn-PillarAdvertisementbetweentheJingzhuExpresswayGuangzhuSectionCo.,LtdandtheGuangdongHighSpeedMediaCo.,Ltd.AgreedthatJingzhuExpresswayGuangzhuSectionCo.,LtdsignstheContractofOperationEntrustmentofUn-PillarAdvertisementofGuangzhuSectionofBeijing-ZhuhaiExpresswaywithGuangdongHighSpeedMediaCo.,Ltd.Itisestimatedthatthetotalcontractamountisnotmorethan10millionyuan.4.The17th(provisional)meetingoftheEighthboardofdirectorsoftheCompanyExaminedandAdoptedoftheProposalonBorrowingEntrustedLoanstoGuangdongGuanghuiExpresswayCo.,Ltd.AgreedthatthecompanyborrowedentrustedloansfromGuangdongGuanghuiExpresswayCo.,Ltd.Thetotalamountofloanswas180
millionyuan.Accordingtotheactualneedsofthecompany,withdrawalsweremadeforaperiodof1year,andtheinterestratewasloweredby10%accordingtothebenchmarkinterestrateofthePeople'sBankofChinaforthesameperiod.Usedtosupplementworkingcapital.Aftertheentrustedloanexpires,itcanberenewedaccordingtotheoriginalconditions.5.The17th(provisional)meetingoftheEighthboardofdirectorsoftheCompanyexaminedandadoptedtheProposalConcerningtheCompanyDailyAssociatedTransactionsPredictedof2018.Agreeonthepredicteddailyassociatedtransactionsforthecompanyheadquarters,wholly-ownedandholdingsubsidiariesof2018,whoseamountintotalis63.1779millionyuan.6.The20th(provisional)meetingoftheEighthboardofdirectorsoftheCompanyexaminedandadoptedtheProposalonBorrowingEntrustedLoanstoGuangdongJiangzhongExpresswayCo.,Ltd.,AgreethatourcompanywillborrowunsecuredentrustedloansfromGuangdongJiangzhongExpresswayCo.,Ltd.,withaloanamountof36millionyuan,andwithdrawfundsaccordingtotheactualneedsofthecompany.Theborrowingsareusedfordailybusinessturnover,withatermof5years,using“1+1”.+1+1+1"mode,thatis,oneloanperiodperyear.Ifwedonotproposerepayment,theloanwillbeautomaticallytransferredtothenextone-yearperiod.Theinterestrateisreducedby10%accordingtotheone-yearlendingbenchmarkinterestrateannouncedbythePeople'sBankofChina.Thewebsitetodisclosetheinterimannouncementsonsignificantrelated-partytransactions
Descriptionofprovisionalannouncement | Dateofdisclosingprovisionalannouncement | Descriptionofthewebsitefordisclosingprovisionalannouncements |
Announcementonrelatedpartytransactionsentrustedbysubsidiaries | January31,2018 | www.cninfo.com.cn |
AnnouncementonRelatedTransactionsofNon-columnAdvertisingEntrustedOperationofHoldingSubsidiaryJingzhuExpresswayGuangzhuSectionCo.,Ltd. | January31,2018 | www.cninfo.com.cn |
AnnouncementonRelatedTransactionsofEntrustedLeasingOperationofCommunicationPipelinealongtheExpresswayofGuangdongExpresswayHoldingSubsidiaryandBranch | January31,2018 | www.cninfo.com.cn |
Relatedtransactionannouncement | March29,2018 | www.cninfo.com.cn |
AnnouncementofDailyAssociatedTransactionsPredictedof2018 | March29,2018 | www.cninfo.com.cn |
Relatedtransactionannouncement | August28,2018 | www.cninfo.com.cn |
XVII.Particularsaboutsignificantcontractsandtheirfulfillment1.Particularsabouttrusteeship,contractandlease
(1)Trusteeship
□Applicable√NotapplicableNil
(2)Contract
□Applicable√Notapplicable
Nil(3)Lease
□Applicable√Notapplicable
Nil
2.Guarantees√Applicable□Notapplicable
(1)Guarantees
TenThousandsyuan
GuaranteeoftheCompanyforthecontrollingsubsidiaries(Excludecontrolledsubsidiaries) | |||||||||
NameoftheCompany | Relevantdisclosuredate/No.oftheguaranteedamount | AmountofGuarantee | Dateofhappening(Dateofsigningagreement) | Actualmountofguarantee | Guaranteetype | Guaranteeterm | Completeimplementationornot | Guaranteeforassociatedparties(Yesorno) | |
GuangdongCommunicationGroupCo.,Ltd | May11,2012 | 172,500 | May31,2013 | 172,500 | Pledge | 2012.9.25-2021.7.25 | No | Yes | |
TotalofexternalguaranteeapprovedatPeriod-end(A3) | 172,500 | TotalbalanceofactualexternalguaranteeatPeriod-end(A4) | 172,500 | ||||||
GuaranteeoftheCompanyforthecontrollingsubsidiaries | |||||||||
NameoftheCompanyguaranteed | Relevantdisclosuredate/No.oftheguaranteedamount | Amountofguarantee | Dateofhappening(Dateofsigningagreement) | Actualmountofguarantee | Guaranteetype | Guaranteeterm | Completeimplementationornot | Guaranteeforassociatedparties(Yesorno) | |
Guaranteeofthesubsidiariesforthecontrollingsubsidiaries | |||||||||
NameoftheCompanyguaranteed | Relevantdisclosuredate/No.oftheguaranteedamount | Amountofguarantee | Dateofhappening(Dateosigningagreement) | Actualmountofguarantee | Guaranteetype | Guaranteeterm | Completeimplementationornot | Guaranteeforassociatedparties(Yesorno) | |
TotalofCompany’sguarantee(namelytotalofthelargethreeaforementioned) | |||||||||
TotalofguaranteeatPeriod-end(A3+B3+C3) | 172,500 | TotalofactualguaranteeatPeriod-end(A4+B4+C4) | 172,500 | ||||||
TheproportionofthetotalamountofactuallyguaranteeinthenetassetsoftheCompany(thatisA4+B4+C4) | 17.99% | ||||||||
Including | |||||||||
Amountofguaranteeforshareholders,actualcontrolleranditsassociatedparties(D) | 172,500 | ||||||||
TotalguaranteeAmountoftheabovementionedguarantees(D+E+F) | 172,500 |
(2)Illegalexternalguarantee
□Applicable√NotapplicableNil3.SituationofEntrustingOthersforManagingSpotAsset(1)SituationofEntrustedFinance□Applicable√Notapplicable
Nil
(2)SituationofEntrustedLoans□Applicable√Notapplicable
Nil
4.Othersignificantcontract□Applicable√Notapplicable
Nil
XVIII.Socialresponsibility1.Executionofsocialresponsibilityoftargetedpovertyalleviation
In2018,theexpresswaytoll-freepolicyforsmall-sizedpassengercarswithlessthan7seatsformainholidays,intermittentfree-chargereleaseandgreen-channelpreferentialpolicywerestillexecuted,Guangfocompany,FokaicompanyandGuangzhudongcompanyhavecompletedeachsafetyandsmoothtraffictasksuccessfullybasedonthethoroughunderstanding,completepersonneldispatching,dutiesperformanceandmeasuresimplementation.
1.Severalmeasuresareimplementedsynchronouslytoprovidedriversandthepublicwiththesmooth,convenient,comfortableandsafedrivingenvironmentandbuildtheharmoniousrelationshipbetweenvehiclesandroadsjointly.ThecompanyislocatedinGuangfoandFokaisectionsamongPearlRiverDeltadevelopedzone,inwhich,thetrafficflowislargeandthechargingsquaresandlanesresourcesarelimitedduetothelimitationofthepreviousinfrastructureconstructionscale.Then,withtheinfluenceofthenorth-ringexpresswayaswellasGonghe-Siqianbottleneck-typesection,thecongestionandslowtrafficbecomenormal.Thetrafficflowpeakinholidayslastslongwithstrongdirectionalityandplentyofemergenciesandthereforethevehiclefreetollinholidayscatcheshighsocialattention.Eachtoll-stationlanesarereconstructedwiththewhole-weighing-platformweighingequipment,whichresultsinthelargerpressureofthesmoothtrafficguaranteebystations.Inlightofsuchcondition,thecompanymotivatedthroughorganizationthesectioncompaniestoperfectanddetailthesmoothtrafficguaranteeworkingschemescontinuously,summarizepreviousexperience,conductemergencyexercisesandmaketheproductionlineexercisevarioussmooth-trafficmeasuresskillfullyononehand;onthe
otherhandstrengthentheserviceconsciousnessandconductthebusinessandcivilizedservicetrainings.Througheffortsofallparties,thesectionforthecompanyisfreefromartificialvehiclecongestionandmassincidentsforthewholeyearwiththecomplaintslimitedtozero,throughwhich,thesafetyandreliabilityoftheexpresswaytrafficenvironmentwereguaranteed.
2.Respondpositivelytothegovernmentalpolicies,providepreferential,deductionandexemptionpoliciesperlawsandreducethecostofenterprisetransportationandthemassestravel.2.OverviewofthetargetedpovertyalleviationThecompanyhasnoprecisesocialresponsibilityforpovertyalleviationintheperiodandbasnofollow-upplan
either.3.MajorenvironmentalprotectionTheListedCompanyanditssubsidiarywhetherbelongstothekeysewageunitsreleasedfromenvironmentalprotectiondepartmentNoXIX.Explanationonothersignificantevents
□Applicable√NotapplicableNil
XX.SignificanteventofsubsidiaryoftheCompany
√Applicable□Notapplicable
The15th(provisional)meetingoftheEighthboardofdirectorsoftheCompanyexaminedandadoptedtheProposalofmattersrelevanttotheZhuhaiMunicipalPeople'sGovernment'sTaking-backofGuangzhou-MacaoExpresswayZhuhaiSection's4.213kmExpresswayassetcompensationandassettransfer"wasexaminedandapproved.1.AgreedthatZhuhaiHigh-techZoneManagementCommitteeuses206millionyuanofcompensation(excludingtherelevanttaxesandfees,andthetaxesandfeescompensationsubjectingtotheactualamountofpayment)totakebacktheGuangdong-MacaoExpresswayZhuhaiSection's4.213km(PileNumberK0+945-K5+158)ExpresswayAsset.2.AgreedthatJingzhuExpresswayGuangzhusectionCo.,Ltd-thecompany'sholdingsubsidiary-shall,afterperformedtherelevantdecision-makingprocedures,enterintotheCompensationandAssettransferAgreementwithZhuhaiHigh-TechZoneManagementCommittee.
OnJanuary31,2018,JingzhuExpresswayGuangzhuSectionCo.,Ltd.receivedthefirstcompensationof100millionyuanfromZhuhaiHigh-techZoneManagementCommittee.
OnJuly3,2018,JingzhuiExpresswayGuangzhuSectionCo.,Ltd.receivedtheequityvaluecompensationamountof106millionyuanfortheassettransferfromZhuhaiHigh-techZoneManagementCommittee.Asofthatdate,GuangzhuEastCompanyhasreceivedallthecompensationof260millionyuanfortheequityvaluecompensationoftheassettransferandhascompletedthetransferoftheassetwiththeZhuhaiHigh-techZoneManagementCommitteeinaccordancewiththe“CompensationandAssetTransferAgreement”.
Descriptionofprovisionalannouncement | Dateofdisclosing | Descriptionofthewebsitefor |
provisionalannouncement | disclosingprovisionalannouncements | |
AnnouncementofResolutionsofthe15th(Provisional)MeetingoftheEighthBoardofDirectors | December30,2017 | www.cninfo.com.cn |
AnnouncementofmattersrelevanttotheZhuhaiMunicipalPeople'sGovernment'sTaking-backofGuangzhou-MacaoExpresswayZhuhaiSection's4.213kmExpresswayassetcompensationandassettransfer" | December30,2017 | www.cninfo.com.cn |
ProgressAnnouncementofmattersrelevanttotheZhuhaiMunicipalPeople'sGovernment'sTaking-backofGuangzhou-MacaoExpresswayZhuhaiSection's4.213kmExpresswayassetcompensationandassettransfer" | February2,2018 | www.cninfo.com.cn |
ProgressAnnouncementofmattersrelevanttotheZhuhaiMunicipalPeople'sGovernment'sTaking-backofGuangzhou-MacaoExpresswayZhuhaiSection's4.213kmExpresswayassetcompensationandassettransfer" | July5,2018 | www.cninfo.com.cn |
VI.ChangeofsharecapitalandshareholdingofPrincipalShareholders
I.Changesinsharecapital1.Changesinsharecapital
Inshares
Beforethechange | Increase/decrease(+,-) | AftertheChange | |||||||
Amount | Proportion | Shareallotment | Bonusshares | Capitalizationofcommonreservefund | Other | Subtotal | Quantity | Proportion | |
1.Shareswithconditionalsubscription | 1,273,170,302 | 60.89% | 101,325 | 101,325 | 1,273,271,627 | 60.90% | |||
1.State-ownedshares | 410,002,853 | 19.61% | 0 | 0 | 410,002,853 | 19.61% | |||
2.State-ownedlegalpersonshares | 521,393,021 | 24.94% | 131,578,946 | 131,578,946 | 652,971,967 | 31.23% | |||
3.Otherdomesticshares | 341,774,428 | 16.34% | -131,480,434 | -131,480,434 | 210,293,994 | 10.06% | |||
Including:DomesticLegalpersonshares | 341,225,786 | 16.32% | -131,727,511 | -131,727,511 | 209,498,275 | 10.02% | |||
Domesticnaturalpersonshares | 548,642 | 0.02% | 247,077 | 247,077 | 795,719 | 0.04% | |||
4.Foreignshares | 0 | 0.00% | 2,813 | 2,813 | 2,813 | 0.00% | |||
Foreignnaturalpersonshares | 0 | 0.00% | 2,813 | 2,813 | 2,813 | 0.00% | |||
II.Shareswithunconditionalsubscription | 817,635,824 | 39.11% | -101,325 | -101,325 | 817,534,499 | 39.10% | |||
1.CommonsharesinRMB | 468,885,824 | 22.43% | 468,885,824 | 22.43% | |||||
2.Foreignsharesindomesticmarket | 348,750,000 | 16.68% | -101,325 | -101,325 | 348,648,675 | 16.67% | |||
III.Totalofcapitalshares | 2,090,806,126 | 100.00% | 0 | 0 | 2,090,806,126 | 100.00% |
Reasonsforsharechanged√Applicable□NotapplicableNote1:Duringthereportingperiod,131,578,946sharesheldbytwoshareholderschangedfrom“domesticlegalpersonshareholding”to“state-ownedlegalpersonshareholding”duetochangesintheholder'scategory.
Note2:Duringthereportingperiod,148,565sharesof"domesticlegalpersonholding"wereconvertedto"domesticnaturalpersonholding"and"overseasnaturalpersonholding"shares.Note3:Duringthereportingperiod,101,325sharesof"unlimitedconditionalsaleshares"wereconvertedinto"limitedconditionalsaleshares"heldbynaturalpersonsinChina.ApprovalofChangeofShares□Applicable√NotapplicableOwnershiptransferofsharechanges□Applicable√NotapplicableImplementationprogressofthesharerepurchases□Applicable√NotapplicableImplementationprogressofthereductionofrepurchasessharesbycentralizedbidding□Applicable√NotapplicableInfluenceonthebasicEPSanddilutedEPSaswellasotherfinancialindexesofnetassetspershareattributabletocommonshareholdersofCompanyinlatestyearandperiod□Applicable√NotapplicableOtherinformationnecessarytodiscloseforthecompanyorneedtodisclosedunderrequirementfromsecurityregulators□Applicable√Notapplicable
2.Changeofshareswithlimitedsalescondition
√Applicable□Notapplicable
InRMB
ShareholderName | InitialRestrictedShares | NumberofUnrestrictedSharesThisTerm | NumberofIncreasedRestrictedSharesThisTerm | RestrictedSharesintheEndoftheTerm | ReasonforRestrictedShares | DateofRestrictionRemoval |
WangChunhua | 0 | 0 | 101,325 | 101,325 | Executivelockingstock | Unknown |
Total | 0 | 0 | 101,325 | 101,325 | -- | -- |
II.Securitiesissueandlisting1.ExplanationoftheSituationoftheSecurityIssue(NoPreferredShares)intheReportPeriod□Applicable√Notapplicable2.Changeofassetandliabilitystructurecausedbychangeoftotalcapitalsharesandstructure□Applicable√Notapplicable3.Abouttheexistingemployees’shares
□Applicable√Notapplicable
III.Shareholdersandactualcontrollingshareholder1.Numberofshareholdersandshareholding
InShares
Totalnumberofcommonshareholdersattheendofthereportingperiod | 55,254 | Totalshareholdersattheendofthemonthfromthedateofdisclosingtheannualreport | 58,069 | Thetotalnumberofpreferredshareholdersvotingrightsrestoredatperiod-end(ifany) | 0 | Totalpreferenceshareholderswithvotingrightsrecoveredatendoflastmonthbeforeannualreportdisclosed(ifany) | 0 | |||||||
Particularsaboutsharesheldabove5%byshareholdersortoptenshareholders | ||||||||||||||
Shareholders | Natureofshareholder | Proportionofsharesheld(%) | Numberofsharesheldatperiod-end | Changesinreportingperiod | Amountofrestrictedsharesheld | Amountofun-restrictedsharesheld | Numberofsharepledged/frozen | |||||||
Stateofshare | Amount | |||||||||||||
GuangdongCommunicationGroupCo.,Ltd | State-ownedlegalperson | 24.55% | 513,382,595 | 410,002,853 | 103,379,742 | |||||||||
GuangdongHighwayConstructionCo.,Ltd, | State-ownedlegalperson | 22.30% | 466,325,020 | 466,325,020 | ||||||||||
YadongFuxingYalianInvestmentCo.,Ltd. | DomesticnonState-ownedLegalperson | 9.68% | 202,429,149 | 202,429,149 | Pledge | 156,652,500 | ||||||||
TibetYingyueInvestmentManagementCo.,Ltd. | State-ownedlegalperson | 4.84% | 101,214,574 | 101,214,574 | ||||||||||
GuangdongExpresswayCo.,Ltd. | State-ownedlegalperson | 2.53% | 52,937,491 | 52,937,491 | ||||||||||
GuangfaSecuritiesCo.,Ltd. | State-ownedlegalperson | 1.45% | 30,364,372 | 30,364,372 | ||||||||||
AgriculturalBankofChina-JingshunGreatWallEnergyInfrastructureMixedSecuritiesInvestmentFund | Other | 1.39% | 29,062,189 |
FengWuchu | Domesticnaturalpersonshares | 1.08% | 22,572,543 | ||||
UBSAGLONDONBRANCH | Foreignlegalperson | 0.70% | 14,691,031 | ||||
XinyueCo.,Ltd. | Foreignlegalperson | 0.63% | 13,201,086 | ||||
Explanationonassociatedrelationshiporconcertedactionoftheaboveshareholders | GuangdongCommunicationGroupCo.,Ltd.istheparentcompanyofGuangdongHighwayConstructionCo.,Ltd,GuangdongExpresswayCo.,Ltd.andXinyueCo.,Ltd..ItisunknownwhetherthereisrelationshipbetweenothershareholdersandwhethertheyarepersonstakingconcertedactionspecifiedintheRegulationsonDisclosureofInformationaboutChangeinShareholdingofShareholdersofListedCompanies. | ||||||
Shareholdingoftop10shareholdersofunrestrictedshares | |||||||
Nameoftheshareholder | Quantityofunrestrictedsharesheldattheendofthereportingperiod | Sharetype | |||||
Sharetype | Quantity | ||||||
GuangdongCommunicationGroupCo.,Ltd | 103,379,742 | RMBCommonshares | 103,379,742 | ||||
AgriculturalBankofChina-JingshunGreatWallEnergyInfrastructureMixedSecuritiesInvestmentFund | 29,062,189 | RMBCommonshares | 29,062,189 | ||||
FengWuchu | 22,572,543 | RMBCommonshares | 20,665,204 | ||||
Foreignsharesplacedindomesticexchange | 1,907,339 | ||||||
UBSAGLONDONBRANCH | 14,691,031 | Foreignsharesplacedindomesticexchange | 14,691,031 | ||||
XinyueCo.,Ltd. | 13,201,086 | Foreignsharesplacedindomesticexchange | 13,201,086 | ||||
PRUSIKUMBRELLAUCITSFUNDPLC | 12,999,871 | Foreignsharesplacedindomesticexchange | 12,999,871 | ||||
VALUEPARTNERSHIGH-DIVIDENDSTOCKSFUNDS | 10,634,903 | Foreignsharesplacedindomesticexchange | 10,634,903 | ||||
KhazanahNasionalBerhad-selffund | 10,522,779 | RMBCommonshares | 10,522,779 | ||||
MATTHEWSCHINADIVIDENDFUND | 8,336,021 | Foreignsharesplacedindomesticexchange | 8,336,021 | ||||
ICBC-JingshunGreatWallShanghai,HongKongandShenzhenSelectStockInvestmentFund | 8,321,695 | RMBCommonshares | 8,321,695 | ||||
Explanationonassociatedrelationshiporconsistentactionamongthetop10shareholdersofnon-restrictednegotiablesharesandthatbetweenthetop10shareholdersofnon-restrictednegotiablesharesandtop10shareholders | GuangdongCommunicationGroupCo.,Ltd.istheparentcompanyofGuangdongHighwayConstructionCo.,Ltd,GuangdongExpresswayCo.,Ltd.andXinyueCo.,Ltd..ItisunknownwhetherthereisrelationshipbetweenothershareholdersandwhethertheyarepersonstakingconcertedactionspecifiedintheRegulationsonDisclosureofInformationaboutChangeinShareholdingofShareholdersofListedCompanies. |
Whethertoptencommonshareholdersortoptencommonshareholderswithun-restrictsharesheldhaveabuy-backagreementdealinginreportingperiod.□Yes√NoThetoptencommonshareholdersortoptencommonshareholderswithun-restrictsharesheldoftheCompanyhavenobuy–backagreementdealinginreportingperiod.
2.ControllingshareholderNatureofControllingShareholders:LocalstateholdingTypeofControllingShareholders:Legalperson
NameoftheControllingshareholder | Legalrepresentative/Leader | Dateofincorporation | Organizationcode | Principalbusinessactivities |
GuangdongCommunicationGroupCo.,Ltd. | DengXiaohua | June23,2000 | 91440000723838552J | Equitymanagement,organizationofassetreorganizationandoptimizedallocation,raisingfundsbymeansincludingmortgage,transferofpropertyrightsandjointstocksystemtransformation,projectinvestment,operationandmanagement,trafficinfrastructureconstruction,highwayandrailwayprojectoperationandrelevantindustries,technologicaldevelopment,application,consultationandservices,highwayandrailwaypassengerandcargotransport,shipindustry,relevantoverseasbusinesses;Valueaddedtelecommunicationservices. |
Equityinotherdomesticandforeignlistedcompaniesheldbythecontrollingshareholderbymeansofcontrolandmutualshareholdinginthereportingperiod | GuangdongCommunicationGroupCo.,Ltd.holds74.12%equityofGuangdongNanyueLogisticsCo.,Ltd.,acompanylistingHshares. |
Changesofcontrollingshareholderinreportingperiod□Applicable√NotapplicableNochangesofcontrollingshareholderfortheCompanyinreportingperiod.3.InformationaboutthecontrollingshareholderoftheCompanyActualcontrollernature:LocalstateownedassetsmanagementActualcontrollertype:Legalperson
Nameoftheactualcontroller | Legalrepresentative/Leader | Dateofincorporation | Organizationcode | Principalbusinessactivities |
State-ownedAssetssupervisionandadministrationCommissionofGuangdongProvincialPeople’sGovernment | LiCheng | June26,2004 | Notlearn | AsanadhocbodydirectlyundertheGuangdongProvincialPeople'sGovernment,commissionedbytheprovincialgovernmenttofulfilltheState-ownedassetinvestor,regulatoryenterprisestoimplementtherights,obligationsandresponsibilities,pipeassetcontrolandpeoplemanagement. |
Equityofother | AsanadhocbodydirectlyundertheGuangdongProvincialPeople'sGovernment,commissioned |
domestic/foreignlistedcompanywithsharecontrollingandshareparticipationbycontrollingshareholderinreportingperiod | bytheprovincialgovernmenttofulfilltheState-ownedassetinvestor,regulatoryenterprisestoimplementtherights,obligationsandresponsibilities,pipeassetcontrolandpeoplemanagement. |
Changesofcontrollingshareholderinreportingperiod□Applicable√NotapplicableNochangesofcontrollingshareholderfortheCompanyinreportingperiodBlockDiagramoftheownershipandcontrolrelationsbetweenthecompanyandtheactualcontroller
Theactualcontrollercontrolsthecompanybymeansoftrustormanagingtheassetsinotherway
□Applicable√Notapplicable
4.Particularsaboutotherlegalpersonshareholderswithover10%shareheld
√Applicable□Notapplicable
Legalpersonshareholder | Legalperson/personinchargeoftheunit | Dateoffoundation | Registercapital | Mainoperationbusinessormanagementactivities |
GuangdongHighwayConstructionCo.,Ltd. | TongDegong | April16,1987 | 8827.36846696millionyuan | Highway,bridge,tunnelbridge,trafficinfrastructureconstruction,investmentandmanagement,technicalconsulting,leasingofroadconstructionmachinery;salesofconstructionmaterials,constructionmachineryequipment;vehiclerescueservices(operatedbythebranch). |
5.SituationofShareLimitationReductionofControllingShareholders,ActualControllers,RestructuringPartyandOtherCommitmentSubjects□Applicable√Notapplicable
VII.SituationofthePreferredShares
□Applicable√NotapplicableTheCompanyhadnopreferredsharesinthereportingperiod.
VIII.InformationaboutDirectors,SupervisorsandSeniorExecutives
I.Changeinsharesheldbydirectors,supervisorsandseniorexecutives
Name | Positions | Officestatus | Sex | Age | Startingdateoftenure | Expirydateoftenure | Sharesheldattheyear-begin(share) | Amountofsharesincreasedatthereportingperiod(share) | Amountofsharesdecreasedatthereportingperiod(share) | Otherchangesincrease/decrease | Sharesheldattheyear-begin(share) |
ZhengRenfa | BoardChairman | Inoffice | Male | 49 | January4,2017 | July21,2019 | |||||
WangChunhua | Director,GeneralManager | Inoffice | Male | 54 | October19,2015 | July21,2019 | 135,100 | 135,100 | |||
WangPing | Director,ChiefEngineer | Inoffice | Female | 54 | April21,2014 | July21,2019 | 3,500 | 3,500 | |||
FangZhi | Director,CFO | Inoffice | Male | 55 | December31,2015 | July21,2019 | |||||
ChenMin | Director | Inoffice | Male | 55 | July19,2017 | July21,2019 | |||||
ZengZhijun | Director | Inoffice | Male | 48 | July21,2016 | July21,2019 | |||||
DuJun | Director | Inoffice | Male | 53 | December4,2016 | July21,2019 | |||||
ZhuoWeiheng | Director | Inoffice | Male | 47 | December4,2017 | July21,2019 | |||||
CaoYu | Director | Inoffice | Male | 33 | July21,2016 | July21,2019 | 150,000 | 150,000 | |||
HuangHai | Director | Inoffice | Male | 43 | July21,2016 | July21,2019 | |||||
XiaoDuan | Independentdirector | Inoffice | Female | 60 | April16,2013 | April16,2019 | |||||
GuNaikang | Independentdirector | Inoffice | Male | 53 | July21,2016 | July21,2019 | |||||
BaoFangzhou | Independentdirector | Inoffice | Male | 40 | July21,2016 | July21,2019 | |||||
ZhangHua | Independentdirector | Inoffice | Male | 53 | December4,2017 | July21,2019 | |||||
Liu | Independen | In | Male | 53 | December | July |
Name | Positions | Officestatus | Sex | Age | Startingdateoftenure | Expirydateoftenure | Sharesheldattheyear-begin(share) | Amountofsharesincreasedatthereportingperiod(share) | Amountofsharesdecreasedatthereportingperiod(share) | Otherchangesincrease/decrease | Sharesheldattheyear-begin(share) |
Zhonghua | tdirector | office | 4,2017 | 21,2019 | |||||||
LingPing | ChairmanoftheSupervisoryCommittee | Inoffice | Female | 55 | March23,2015 | July21,2019 | |||||
LiHaihong | Supervisor | Inoffice | Female | 47 | July21,2016 | July21,2019 | |||||
KeLin | Supervisor | Inoffice | Female | 49 | September15,2017 | July21,2019 | |||||
CaoXiaoying | Supervisor | Inoffice | Female | 50 | July21,2016 | July21,2019 | |||||
LiMei | Supervisor | Dimission | Female | 49 | March22,2000 | March30,2018 | 123,205 | 7,700 | 115,505 | ||
YangTianshu | Supervisor | Inoffice | Male | 36 | March30,2018 | July21,2019 | |||||
ZuoJiang | DeputyGeneralManager | Inoffice | Female | 46 | October19,2015 | July21,2019 | |||||
ChengRui | DeputyGeneralManager | Inoffice | Male | 44 | August28,2017 | July21,2019 | |||||
HeBing | legalcounsel | Inoffice | Female | 51 | July23,2012 | July21,2019 | |||||
YangHanming | SecretarytotheBoard | Inoffice | Male | 49 | August28,2017 | July21,2019 | |||||
Total | -- | -- | -- | -- | -- | -- | 411,805 | 0 | 7,700 | 0 | 404,105 |
Note:1.Ifthepositionisanindependentdirector,itmustbeseparatelyindicated.2.Therelevantcircumstancesofthedirectors,supervisorsandseniormanagementpersonnelwhonolongerservesattheendofthereportingperiodbutservedinthepositionfromthebeginningofthisreportingperiodmuststillbeincludedinthisform.3.Thecommencementdateoftermofwhowasre-electedduringtheprevioustermshallbethedateofthefirsttermcommencementdate.II.Changeinsharesheldbydirectors,supervisorsandseniorexecutives
√Applicable□Notapplicable
Name | Positions | Types | Date | Reason |
LiMei | Supervisor | Dimission | January5,2018 | Resigned |
III.PostsholdingWorkExperienceinthepastfiveyearsofDirectors,supervisorsandseniorExecutivesinCurrentofficeMr.ZhengRenfa,HeservedasChairman,MasterDegree,Senioreconomicengineer.SinceDecember2005,HeservedasDeputyMinisterofInvestmentManagementDepartmentofGuangdongCommunicationGroup,SinceApril21,2014,Heservedasdirector,SinceAugust15,2016,theimplementationofthedutiesoftheBoardofDirectorsandthelegalrepresentativeoftheduties.SinceJanuary4,2017,hewasthechairmanoftheboardofdirectorsoftheCompanyandholdaconcurrentpostofvicechairmanofGuangdongGuanghuiExpresswayCo.,Ltd.Mr.WangChunhua,HeservedasDirectorandGeneralManageroftheCompany,MasterDegree,seniorengineerandsenioreconomicengineer,SinceSeptember2006,heservedasDeputyGeneralManageroftheCompany.FromMarch2013toOctober2015,HeservedasdirectorandDeputyGeneralManageroftheCompany,SinceOctober2015,HeservedasDirectorandGeneraldirectoroftheCompany,andholdaconcurrentpostofvicechairmanofGankangExpresswayCo.,Ltd,GanzhouKangdaExpresswayCo.,Ltd.andShenzhenHuiyanExpresswayCo.,Ltd.Ms.WangPing,SheservedasDirectorandChiefEngineeroftheCompany,bachelor'sdegree,professorofEngineering,Nationalregisteredcostengineer,SeniorEconomist.FromFebruary2001toApril2012,she
servedasMinisterofInfrastructureManagementDepartment.FromApril2012,sheservedaschiefengineeroftheCompany,SinceApril21,2014,SheservedasDirectoroftheCompany,andholdaconcurrentpostof
ChairmanofZhaoqingHighwayCo.,Ltd.andViceChairmanofGuangdongJiangzhongExpresswayCo.,Ltd.Mr.Fangzhi,HeservesasDirector,MasterDegreeandSeniorAccountant,HeservedasassociatedirectorandDeputyGeneralManagerofFinanceCenterofGuangdongCommunicationGroup,SinceMay2015,HeservedasChiefaccountantoftheCompany,SinceDecember2015,HeservedasdirectorandchiefaccountantoftheCompany,andholdaconcurrentpostofChairmanoftheboardofsupervisorsofGuanghuiExpresswayCo.,Ltd,andDirecotrofYuekeTechnologyPettyLoanCo.,LtdMr.ChinMin,HeservesasDirector,undergraduatedegree,senioreconomist,corporatelegaladviser,costengineer.FromSeptember2001toAugust2009,HeservedasSenioreconomist,DirectorandGeneralManagerofGuangdongJingtongHighwayEngineeringConstructionGroupCo.,Ltd.,FromAugust2009toApril2011,HeservedasDeputyGeneralManagerofGuangdongNanyueLogisticsCo.,Ltd.,FormApril2011toDecember2014,HeservedasDuputyMinisterofLegalAffairsofGuangdongCommunicationsGroupCo.,Ltd.,SinceDecember2014,HeservedasMinisterofLegalAffairsofGuangdongCommunicationsGroupCo.,Ltd.,SinceJuly,19,
2017,HeservedasDirectoroftheCompany.
Mr.ZengZhijun,economist,isadirectoroftheCompany,withmasterdegree.SinceJune2010,hehasservedasthedeputychiefeconomistofGuangdongProvincialExpresswayCo.,Ltd.FromJanuary2015toSeptember2015,heservedasMinisterofInvestmentPlanningDepartmentofGuangdongProvincialExpresswayCo.,Ltd;sinceSeptember2015,hehasservedasMinisterofLegalAffairsDepartmentofGuangdongProvincialExpresswayCo.,Ltd.SinceDecember4,2017,heservesasDirectoroftheCompany.
Mr.DuJun,HeservesasDirector,Master'sdegreeandbachelor'sdegree,seniorengineer,HeservesasDeputyGeneralManager,directorandmemberofpartycommitteeofGuangdongLuqiaoConstructionDevelopmentCo.,Ltd.SinceApril2016,HeservedasDeputyGeneralManagerofGuangdongHighwayConstructionCo.,Ltd.,SinceJuly21,2016,HeservedasDirectoroftheCompany.Mr.ZhuoWeiheng,isasenioraccountant,withbachelordegree.FromJanuary2008toMay2009,heservedastheministerofthefinancialauditdepartmentofGuangdongProvincialHighwayConstructionCo.,Ltd.SinceMay2009,hehasservedastheMinisterofFinanceManagementDepartmentofGuangdongProvincialHighwayConstructionCo.,Ltd.,SinceDecember4,2017,heservedasDirectoroftheCompany.Mr.CaoYu,MasterofBusinessAdministration,since2011hasservedasShanghaiFuxinhigh-tech(Group)Co.,Ltd.investmentmanager,deputydirectorofinvestment,investmentdirector.FromJuly21,2016,heservedasdirectoroftheCompany.Mr.HuangHai,MasterofBusinessAdministration.UsedtobethebusinessmanagerofShenzhenWofaTechnologyDevelopmentCo.,Ltd.,themarketingmanagerofShantouBranchofGuangzhouXingdaCommunicationsCo.,Ltd.,ZhongshanPublicTechnologyCo.,Ltd.securitiesmanagerandsecuritiesaffairsrepresentative.HeiscurrentlytheSecretaryoftheBoardofDirectorsofPolyDevelopmentsandHoldings,GroupCO.,LTD,theDirectoroftheOfficeoftheBoardofDirectorsandtheExecutiveDirectorofTibetYinyueInvestmentManagementCo.,Ltd.FromJuly21,2016,heservesasdirectoroftheCompany.Ms.XiaoDuananindependentdirectoroftheCompany,DoctorofEconomics,theJinanUniversityAssociateProfessorofFinanceandresearchsupervisor.SheusedtobearesearcherattheBeijingInstituteofMarketEconomy,executivememberofthecouncilofGuangdongsharesEconomicResearchAssociation,amemberoftheTaiwanEconomicResearchInstitution.SheisalsotheindependentdirectorofGuangdongTianheAgriculturalmaterialsCo.,Ltd.SiceApril2013,SheservedasDorectoroftheCompany.Mr.BaoFangzhou,IndependentdirectoroftheCompany,MasterofLaw.ShanghaiJinTianchengLawFirm,SeniorPartner,2008-2014FormerIndependentDirectorofNewNanyangCo.,Ltd.Since2013,hehasbeenanindependentdirectorofHubeiWushiPharmaceuticalCo.,Ltd.sinceJune2016,PowerCo.,Ltd.IndependentDirector.FromJuly21,2016,HeisanindependentdirectoroftheCompany.Mr.GuNaikang,IndependentdirectorsanddoctoratedegreeoftheCompany.SinceJune2004,hehasbeenaprofessoranddoctoraltutorofFinanceandInvestmentDepartmentofZhongshanUniversitySchoolofManagement.HeiscurrentlyanindependentdirectorofGuangxiGuitang(Group)Co.,Ltd.,anindependentdirectorofDongguanYuqiuElectronicsCo.,Ltd.andanindependentdirectorofGuangzhouZhujiangIndustrialDevelopmentCo.,Ltd.FromJuly21,2016,heisanindependentdirectoroftheCompany.Mr.LiuZhonghua,professorofaccounting,isanindependentdirectoroftheCompany,withmasterdegree.InSeptember2005,hewastransferredtotheSchoolofManagementofGuangdongUniversityofForeignStudiestoteach.HeiscurrentlyaprofessorattheSchoolofAccountingofGuangdongUniversityofForeignStudies,heisamastertutor,concurrentlyservesasmemberofAccountingSocietyofChina,executivememberofChinaAssociationofForeignTradeandEconomicAccounting,vicechairmanofGuangdongProvinceManagementAccountingAssociation,executivememberofGuangdongProvincialAccountingAssociationandmemberofGuangdongAuditSociety.SinceDecember4,2017,heisanindependentdirectoroftheCompany.Mr.ZhangHua,economist,isanindependentdirectoroftheCompany,withMasterDegree.FromMay2006toMay2012,heservedasdeputygeneralmanagerandchiefinvestmentdirectorofGuangzhouYingzhiCaihuaInvestmentCo.,Ltd.FromJune2012toSeptember2016,heservedasthedeputygeneralmanagerofGuangzhouDe’ruiInvestmentCo.,LtdandconcurrentlyservedasDeputyGeneralManagerofShenzhenDongyingRuitong
InvestmentManagementPartnership(LimitedPartnership);sinceOctober2016,hehasservedasgeneralmanagerofShanghaiErLuoInvestmentManagementServiceCenter(GeneralPartnership).FromNovember2010toJanuary2017,heservedasanindependentdirectorofGuangzhouYuYinTechnologyCo.,Ltd.FromDecember2011toSeptember2017,heservedasanindependentdirectorofGuangdongElectricPowerDevelopmentCo.,Ltd.InSeptember2017,hewasanindependentdirectorofZhuhaiTaichuanCloudCommunityTechnologyCo.,Ltd.,SinceDecember4,2017,heisanindependentdirectoroftheCompany.Ms.LingPing,hehasservedaschairmanofthesupervisorycommitteeoftheCompany,bachelordegree,SeniorAccountant,SeniorEconomist,FormFebruary1996toJanuary2015,workedinGuangdongProvincialHighwayConstructionCompany,servedasaccount,audit,deputymanagerofauditDepartment,ministeroftheAuditDepartment,SinceJanuary2015,WorkedatGuangdongCommunicationGroupCo.,Ltd.,CurrentlyserveasChairmanoftheexteriorsupervisorycommittee.SinceMarch2015,SheservedasChairmanofBoardofsupervisoroftheCompany.Ms.LiHaihong,SupervisorsoftheCompany,bachelordegree,senioreconomistandroadandbridgeengineer.SinceOctober2008,shehasbeenworkingasasupervisoryandauditingdepartmentoftheGuangdongProvincialCommunicationsGroup.FromOctober2008toSeptember2012,shewasappointedfull-timesupervisorofGuangdongExpresswayCo.,Ltd.,FromOctober2012toMarch2016,shewasappointedfull-timesupervisorofGuangdongYueyunTrafficCo.,Ltd.andGuangdongCommunicationsIndustrialInvestmentCo.,Ltd.,FormMarch2016toDecember2017,shewasappointedfull-timesupervisorofGuangdongLitongRealEstateInvestmentCo.,Ltd.,SinceDecember2017,shewasappointedfull-timesupervisorofGuangdongNanyueTrafficInvestmentConstructionCo.,Ltd.,SinceMarch2016,shewasappointedfull-timesupervisorofGuangdongTrafficIndustryInvestmentCo.,Ltd.,fromDecember2018topresent,isthefirstsecretaryofthepartyorganizationofGuangdongKaiyangExpresswayCo.,Ltd.FromJuly21,2016,shehasservedassupervisoroftheSupervisoryCommitteeoftheCompany.Ms.KeLin,bachelordegree,BachelorofScience,assistantresearcher.ShebegantotakeajobinJuly1991.Shehadsuccessivelyservedascadreofpersonneldepartment,deputyhead,headofthepersonneldepartment,sectionchiefrankcadreofdisciplineinspectionandsupervisiondepartment,directorofthecommissionfordisciplineInspection(deputy-directorlevel).InNovember2008,shewastransferredtoworkinProvincialTransportationGroup,successivelyservedasmemberofpartycommittee,unionchairmananddisciplineinspectioncommissionsecretary.FromJanuary2013toAugust2017,shehasservedaspartycommitteemember,disciplineinspectioncommissionsecretaryandchairmanoftheunioninYueyunTransportation..SinceSeptember15,2017,SheservedassupervisorofBoardofsupervisoroftheCompany.Ms.CaoXiaoying,SupervisorsoftheCompany,bachelor'sdegree,bachelor'sdegree,senioreconomist,deputyinterpreter,seniorhumanresourcemanagementdivision,seniorcorporateculturedivision.Since2011toworkintheCompany,Shehasservedasviceministerofhumanresources,minister,ministerofhumanresourcesandministerofthePartyandtheCommunistParty,SinceJune2018,ShehassevedasMinisterofDepartmentofGeneralAffairs,SinceJune21,2016,shehasservedasemployeesupervisorofthe8thSupervisoryCommittee.Mr.YangTianshu,supervisoroftheCompany,withabachelordegreeandamasterdegreeandanationallegalprofessionalqualification,aswellasisasenioreconomist.FromJuly2004toApril2005,heworkedasasalesmaninGuangdongExpresswayTechnologyInvestmentCo.,Ltd.;fromJune2005toJuly2018,heworkedintheGeneralAffairsDepartmentoftheCompany,andservedasasalesman,businesssupervisor,deputyminister,andminister;SinceJuly2018,,hehasbeentheMinisterofInvestmentandDevelopmentoftheCompany.SinceMarch30,2018,hehasservedastheSupervisorofthe8thSupervisoryCommitteeoftheCompany.Ms.ZuoJiang,DeputyGeneralManageroftheCompany,MasterofEconomics,SeniorEconomist,Qualifiedas
LegalAdviseroftheEnterprise,SecretaryoftheBoardofDirectors.HehasbeenworkingintheCompanysince1994.HehasbeentheMinisterofSecuritiesAffairsoftheCompanysince1999.HehasbeentheSecretaryoftheBoardofDirectorsandDirectorofSecuritiesAffairsDepartmentsinceMarch2006.FromOctober2015toJuly2016,hewastheDeputyGeneralManagerandSecretaryoftheBoardofDirectorsAndMinisterofSecuritiesAffairs.SinceOctober2015,hehasbeentheDeputyGeneralManageroftheCompany,andholdaconcurrentpostofDirectorofYuekeTechnologyPettyLoanCo.,Ltd.,anddirectorofGuoyuanSecuritiesCo.,Ltd.Mr.ChengRui,On-jobpostgraduate,masterofbusinessadministration,withalawyerqualification.HebegantotakeajobinJuly1997.Hehadsuccessivelyservedasdevelopmentdepartmentstaff,deputymanagerofinvestmentmanagementdepartmentandmanagerofinvestmentmanagementdepartmentinHongKongXinyueCo.,Ltd,servedasDeputyGeneralManagerofHongKongXinyueCompanyinAugust2015,andservedasdeputyministerofstrategicdevelopmentdepartmentfromApril2016toAugust2017.SinceAugust2017,heservedasDeputyGeneralManageroftheCompany.Ms.HeBing,generalcounsel,master'sdegreeinlaw,enterpriselegaladviser,fromAugust2005toJuly2012,sheservedasDeputychiefeconomicengineeroftheCompany,SinceJuly2012,sheservedasChieflegaladviseroftheCompany.andholdaconcurrentpostofDirectorofHuiyanExpresswayCo.,Ltd.,andsupervisorofJiangzhong
ExpresswayCo.,Ltd.
Mr.YangHanming,hehasbeentheSecretaryoftheBoard,bachelor'sdegree,senioreconomist,corporatelegaladviser,withtheboardsecretaryqualifications.SinceMarch2000,hehasbeensuccessivelyservedasdeputyministerofinvestmentplanningandministeroflegalaffairsinGuangdongProvincialExpresswayDevelopmentCo.,Ltd.SinceAugust2014,hehasbeenconcurrentlyservedasministerofinvestmentanddevelopment.SinceAugust2017,hehasbeentheSecretaryoftheBoardoftheCompany,andholdaconcurrentpostofSupervisorofYuekeTechnologyPettyLoanCo.,Ltd.,andsupervisorofGanzhouKangdaExpresswayCo.,Ltd.Officetakinginshareholdercompanies√Applicable□Notapplicable
Namesofthepersonsinoffice | Namesoftheshareholders | Titlesengagedintheshareholders | Shartingdateofofficeterm | Expirydateofofficeterm | Doeshe/shereceiveremunerationorallowancefromtheshareholder |
ChenMin | GuangdongCommunicationGroup | MinisterofInvestmentManagementDept. | December1,2014 | Yes | |
DuJun | GuangdongHighwayConstructionCo.,Ltd. | DeputyGeneralManager | April1,2016 | Yes | |
ZhuoWeiheng | GuangdongHighwayConstructionCo.,Ltd. | DeputyChiefAccountant | March1,2018 | Yes | |
ZengZhijun | GuangdongExpresswayCo.,Ltd | MinisteroflegalaffairsDept | September1,2015 | Yes | |
HuangHai | TibetYinyueInvestmentManagementCo.,Ltd. | Executivedirector | June1,2015 | No | |
LingPing | GuangdongCommunicationGroupCo.,Ltd. | Dispatchedchairmanofthesupervisorycommittee | January1,2015 | Yes | |
LiHaihong | GuangdongCommunicationGroupCo.,Ltd. | Full-timefieldsupervisors | July21,2016 | Yes |
Officestakeninotherorganizations
√Applicable□Notapplicable
Nameofthepersonsinoffice | Nameofotherorganizations | Titlesengagedintheotherorganizations | Startingdateofofficeterm | Expirydateofofficeterm | Doeshe/shereceiveremunerationorallowancefromotherorganization |
XiaoDuan | ThefinancialdepartmentoftheschoolofeconomicsofJinanUniversity | Associateprofessor,Master’ssupervisor | Yes | ||
XiaoDuan | ElionCleanEnergyCompanyLimited | Independentdirector | June1,2017 | Yes | |
XiaoDuan | GuangzhouJiesaiTechnologyCo.,Ltd. | Independentdirector | July1,2018 | Yes | |
BaoFangzhou | ShanghaiAllbrightlawfirm | Lawyer,Seniorpartner | January1,2000 | Yes | |
BaoFangzhou | HubeiWushiPharmaceuticalCo.,Ltd. | Independentdirector | January1,2013 | Yes | |
BaoFangzhou | LaurelPowerCo.,Ltd. | Independentdirector | January1,2016 | Yes | |
GuNaikang | FinanceandInvestment,SchoolofBusinessSunYAT-SENUniversity | Professor,doctoralsupervisor | January1,2004 | Yes | |
GuNaikang | ZhuboDesignCo.,Ltd. | Independentdirector | June1,2012 | March1,2018 | Yes |
GuNaikang | GuangxiGuitang(Group)Co.,Ltd. | Independentdirector | December1,2013 | November1,2018 | Yes |
GuNaikang | GuangzhouZhujiangIndustryDevelopmentCo.,Ltd. | Independentdirector | May1,2014 | Yes | |
GuNaikang | MingyangIntelligentEnergyGroupCo.,Ltd. | Supervisor | July1,2017 | Yes | |
ZhangHua | ShanghaiErroInvestmentManagementServiceCentre(Generalpartnership) | GeneralManager | October1,2016 | Yes | |
ZhangHua | GuangdongElectricPowerDevelopmentCo.,Ltd. | Independentdirector | November1,2011 | Yes | |
ZhangHua | ZhuhaiTaichuanCommunityTechnologyCo.,Ltd. | Independentdirector | September1,2017 | Yes | |
ZhangHua | GuangzhouYuyinTechnologyCo.,Ltd. | Independentdirector | November1,2018 | Yes | |
LiuZhonghua | CollegeofAccounting,GuangdongUniversityofForeignStudies | Professor,Master’ssupervisor | September1,2005 | Yes | |
CaoYu | ShanghaiFuxingTechnology(Group)Co.,Ltd. | ECD | May1,2008 | Yes | |
HuangHai | PolyDevelopmentsandHoldingsGroupCo.,Ltd. | SecretarytotheBoard | April26,2012 | Yes |
Punishmentstothecurrentandleavingboarddirectors,supervisorsandseniormanagersduringthereportperiodbysecuritiesregulatorsintherecentthreeyears
□Applicable√Notapplicable
IV.Remunerationtodirectors,supervisorsandseniorexecutivesDecision-makingprocedures,basisfordeterminationandactualpaymentoftheremunerationtodirectors,
supervisorsandseniorexecutives
TheremunerationofmembersoftheEighthboardofdirectorsandsupervisorycommitteewasexaminedanddeterminedatthesecondprovisionalshareholders’generalmeetingin2016.Theremunerationoftheseniorexecutivesisdeterminedbytheassetsoperationresponsibilitysysteminthatyear.
1.ThedirectorsoftheCompanyandthecontrollingshareholderoftheCompanyanditsrelatedparties,aswellasthedirectorsoftheCompany,shallnotreceivetheremunerationofthedirectors.
2.DirectorswhohavenotheldotherpositionsintheCompanyandthecontrollingshareholderoftheCompanyanditsrelatedpartiesareremuneratedbythedirectorsoftheCompany,andthestandardis5,000yuan(taxincluded)perpersonpermonth.Inaddition,theexpensesincurredbytheindependentdirectorsattheboardofdirectorsandtheshareholders'generalmeetingandtheexpensesincurredinexercisingtheirfunctionsandpowersinaccordancewiththearticlesofassociationmaybereimbursedinthecompany.Remunerationtodirectors,supervisorsandseniorexecutivesinthereportingperiod
TenThousandsyuan
Name | Positions | Sex | Age | Officestatus | TotalremunerationreceivedfromtheCompany | Whethertogetpaidinthecompanyrelatedparty |
ZhengRenfa | BoardChairman | Male | 49 | InOffice | 74.8 | No |
WangChunhua | Director,GeneralManager | Male | 54 | InOffice | 72.51 | No |
WangPing | Director,ChiefEngineer | Female | 54 | InOffice | 61.84 | No |
FangZhi | Director,ChiefAccountant | Male | 55 | InOffice | 62.01 | No |
ChenMin | Director | Male | 55 | InOffice | 0 | Yes |
ZengZhijun | Director | Male | 48 | InOffice | 0 | Yes |
DuJun | Director | Male | 53 | InOffice | 0 | Yes |
ZhuoWeiheng | Director | Male | 47 | InOffice | 0 | Yes |
CaoYu | Director | Male | 33 | InOffice | 6 | No |
HuangHai | Director | Male | 43 | InOffice | 6 | No |
XiaoDuan | Independentdirector | Female | 60 | InOffice | 6 | No |
GuNaikang | Independentdirector | Male | 53 | InOffice | 6 | No |
BaoFangzhou | Independentdirector | Male | 40 | InOffice | 6 | No |
ZhangHua | Independentdirector | Male | 53 | InOffice | 6 | No |
Name | Positions | Sex | Age | Officestatus | TotalremunerationreceivedfromtheCompany | Whethertogetpaidinthecompanyrelatedparty |
LiuZhonghua | Independentdirector | Male | 53 | InOffice | 6 | No |
LingPing | ChairmanoftheSupervisoryCommittee | Female | 55 | InOffice | 0 | Yes |
LiHaihong | Supervisor | Female | 47 | InOffice | 0 | Yes |
KeLin | Supervisor | Female | 49 | InOffice | 46.41 | No |
CaoXiaoying | Supervisor | Female | 50 | InOffice | 47.4 | No |
LiMei | Supervisor | Female | 49 | Dimission | 0 | No |
YangTianshu | Supervisor | Malee | 36 | InOffice | 47.3 | No |
ZuoJiang | DeputyGeneralManager | Female | 46 | InOffice | 61.84 | No |
ChengRui | DeputyGeneralManager | Male | 44 | InOffice | 46.58 | No |
HeBing | Chieflegaladviser | Female | 51 | InOffice | 50.86 | No |
YangHanming | SecretarytotheBoard | Male | 49 | InOffice | 50.31 | No |
Total | -- | -- | -- | 663.86 | -- |
Incentiveequitytodirectors,supervisorsor/andseniorexecutivesinthereportingperiod
□Applicable√Notapplicable
V.Particularsaboutemployees.1.Numberofstaff,professionalstructureandeducationalbackground
Numberofin-servicestaffoftheparentcompany(person) | 844 |
Numberofin-servicestaffofthemainsubsidiaries(person) | 1353 |
Thetotalnumberofthein-servicestaff(person) | 2,197 |
Thetotalnumberofstaffreceivingremunerationinthecurrentperiod(person) | 2,197 |
Retiredstaffwithchargespaidbytheparentcompanyandmainsubsidiaries(person) | 101 |
Professional | |
Category | Numberofpersons(person) |
Managementpersonnel | 429 |
Tollcollectors | 1,372 |
Roadservicepersonnedl | 121 |
Logisticalpersonnedl | 275 |
Total | 2,197 |
Education | |
Category | Numberofpersons(person) |
Holdersofmaster’sdegreeorobove | 37 |
Graduatesofregularuniversity | 407 |
Graduatesofjuniorcolleges | 1,469 |
Other | 284 |
Total | 2,197 |
2.Remunerationpolicies
Accordingtothecompany'soveralldevelopmentplan,tofurtherestablishandimproveavarietyofhumanresourcemanagementsystem,strengthenthemacrosalarymanagement,tomaintainthelevelofsalarymarketcompetitiveness.Advocatesalaryandperformancerelated,andconstantlyimprovetheperformanceappraisalmechanism,personalperformanceappraisalapproach,staffpromotionsystem,todevelopbothincentiveandrestrictivesalaryperformancepolicy.Thinkhighlyoftheestablishmentandperfectionofwelfaresystem,inaccordancewiththerelevantprovisionsofthestateontimeandinfullforthefullpaypensioninsurance,medicalinsurance,work-relatedinjuryinsurance,unemploymentinsurance,maternityinsurance,housingprovidentfundandotherstatutorybenefits,complywiththeprovisionsonworkinghours,restandvacations,theestablishmentofsupplementarymedicalinsurance,enterpriseannuityandwelfaresystem.3.Trainingplan
Nil
4.Outsourcingsituation
□Applicable√NoApplicable
IX.Administrativestructure
I.Generalsituation
TheCompanystrictlyfollowedtherequirementoflawsandregulationsin<companylaw>,<theSecuritiesLaw>,<CodeofCorporateGovernanceforListedCompaniesinChina>,<StockListingRules>etc.andkeptonimprovingcorporategovernancestructures,improvingnormativeoperationlevel.Companyhadstipulatedrulessuchas<articlesofassociation>,rulesofproceduresinthreemeetings,workingguideofspecialcommitteeinboardofdirectors,workingguideofgeneralmanageretc.andinternalcontrolsystembasicallycoveringalloperatingmanagementsuchascompanyfinancialmanagement,investmentmanagement,informationdisclosure,relatedtransaction,externalguarantee,fundraisingetc.Allrulesarewellimplemented.Inthereportperiod,strictlyfollowingtherelevantprovisionsof“CompanyLaw”and“Regulations”,theshareholder’smeetingofourbankeffectivelyperformedthefunctions.Theboardofdirectorsistoberesponsiblefortheshareholder’smeeting,totaketheultimateresponsibilityforthebank’soperationandmanagementandtoconveneameetingaswellasperformingthefunctionandpoweraccordingtolegalprocedure.Inlinewiththeattitudewhichisresponsibleforallshareholdersandkeepinginclosecontactandcommunicationwiththeboardofdirectorsandthemanagement,theboardofsupervisorscarriesouttheassessmentworkondutyexercisingfortheboardofdirectorsandtheboardofsupervisors,effectivelyperformingfunctionsandobligationsofsupervision.Doesthereexistanydifferenceincompliancewiththecorporategovernance,thePRCCompanyLawandtherelevantprovisionsofCSRC,□Yes√NoThereexistnodifferenceincompliancewiththecorporategovernance,thePRCCompanyLawandtherelevantprovisionsofCSRC.
II.IndependenceandCompletenessinbusiness,personnel,assets,organizationandfinance
1.Independentbusiness
ThecompanymainlyengagedinbusinessisGuangfoExpressway,FokaiExpresswayandBeijing-ZhuhaiExpresswayGuangzhusectionofthechargesandmaintenancework,investmentinscienceandtechnologyindustryandproviderelevantadvice.ithasinvestedinorholdsShenzhenHuiyanExpresswayCo.,Ltd.,GuanghuiExpresswayCo.,Ltd.,JiangzhongExpresswayCo.,Ltd.,ZhaoqingYuezhaoHighwayCo.,Ltd.,GanzhouKangdaExpresswayCo.,Ltd,GanzhouGankangExpresswayCo.,Ltd.,GuangdongYuekeTechnologyMicroLoanCo.,Ltd.andGuangdongGuangleExpresswayCo.,Ltd.TheCompanyhasoutstandingmainoperation,independentandcompletebusinessandtheabilityofindependentoperation.AllbusinessdecisionsoftheCompanyweremadeindependently,beingcompletelyseparatedfromtheshareholderwithactualcontrol.Relatedtransactionswerecarriedoutinlightoftheprincipleoffairtransaction,
whichdidnotharmtheinterestsoftheCompanyandothershareholdersoftheCompany.Thecontentofrelatedtransactionswasfully,timelyandaccuratelydisclosed,whichdidnothavenegativeinfluenceontheCompany.2.Completeassets
TherelationshipoftheCompany'spropertyrightisclear.TheassetsinjectedbyshareholdersintheCompanyareindependentandcompleteandhaveclearpropertyright.Allcapitalwaspaidupandrelevantformalitiesofpropertyrightchangeweresettled.3.Independentpersonnel
Asforpersonnelrelationship,thegeneralmanager,deputygeneralmanagers,thesecretarytotheboardofdirectorsandfinancialcontrolleroftheCompanywerefull-timeemployeesandreceivedsalaryfromtheCompany,whodidnotconcurrentlyholdpositionsattheparentcompany.
AlldirectorsandsupervisorsoftheCompanywereelectedthroughlegalprocedure.Thegeneralmanager,deputygeneralmanagers,chiefaccountant,chiefeconomicengineerandchiefengineerweredirectlyappointedbytheboardofdirectors.Othermanagerialpersonnelofalllevelsweredirectlyappointedbythegeneralmanager.TheCompanyownsindependentpowerofpersonnelappointmentandremoval.
4.Independentfinance
Thecompanyhasestablishedanindependentaccountingdepartment,includingsubsidiaries,andhasestablishedanindependentaccountingsystemandfinancialmanagementsystem.Thecompanyopensbankaccountsindependently;thecompanypaystaxesindependently;thecompany'sfinancialdecisionsaremadeindependently,andthereisnocaseofmajorshareholdersinterferingintheuseoffundsoflistedcompanies.
5.IndependentorganizationTheboardofdirectors,thesupervisorycommitteeandotherinternalorgansoftheCompanyoperatedindependently.Itsorgansarecompleteandindependent.III.HoriontalCompetitions
□Applicable√Notapplicable
IV.AnnualGeneralMeetingandExtraordinaryShareholders’MeetingsintheReportingPeriod1.AnnualGeneralMeeting
Sessions | MeetingDate | Descriptionofproposals | Resolution | Disclosuredate | Disclosureindex |
2017Shareholders’generalmeeting | AnnualShareholders’GeneralMeeting | 66.27% | April26,2018 | April27,2018 | AnnouncementofResolutionsoftheshareholders'generalmeetingin2017.www.cninfo.com.cn |
TheFirstprovisionalshareholders’Generalmeetingof2018 | Provisionalshareholders’Generalmeeting | 61.46% | August23,2018 | August24,2018 | AnnouncementofResolutionsoftheFirstprovisionalshareholders'generalmeetingof2018.www.cninfo.com.cn |
2.Requestforextraordinarygeneralmeetingbypreferredstockholderswhosevotingrightsrestore
□Applicable√Notapplicable
V.Responsibilityperformanceofindependentdirectorsinreportperiod
1.Theattendingofindependentdirectorstoboardmeetingsandshareholders’generalmeeting
Theattendingofindependentdirectors | |||||||
IndependentDirectors | NumberofBoardmeetingsnecessarytobeattendedinthereportingperiod | Numberofspotattendances | NumberofmeetingsattendedbyCommunication | Numberofattendancesbyrepresentative | Numberofabsence | Failuretopersonallyattendboardmeetingssuccessivelytwice(Yes/No) | Attendanceoftheshareholders'generalmeeting |
XiaoDuan | 7 | 2 | 5 | 0 | 0 | No | 2 |
GuNaikang | 7 | 2 | 5 | 0 | 0 | No | 2 |
BaoFangzhou | 7 | 2 | 5 | 0 | 0 | No | 2 |
LiuZhonghua | 7 | 2 | 5 | 0 | 0 | No | 2 |
ZhangHua | 7 | 2 | 5 | 0 | 0 | No | 2 |
NotestofailuretopersonallyattendBoardMeetingsSuccessivelyTwice
Nil
2.ObjectionforrelevanteventsfromindependentdirectorsIndependentdirectorscomeupwithobjectionaboutCompany’srelevantmatters□Yes√NoNoobjectionsarisingfromtheindependentdirectorsonrelevanteventsoftheCompanyduringthePeriod3.OthernotestodutyperformanceofindependentdirectorsHasanindependentdirector’sadvicetotheCompanybeenaccepted√Yes□NoExplanationonacceptanceoforfailuretoacceptanindependentdirector’sadvicetotheCompany.Independentdirectorsseriouslyexercisetherightsconferredbylaw,keepabreastofthecompany'sproductionandmanagementinformation,concernedaboutthecompany'scomprehensivedevelopment,activelyattendrelevantmeetingsheldbythecompanyin2018,publishedanindependentandobjectiveadviceonrelevantmattersforconsiderationbytheBoardofDirectorsoftheCompany.Faithfullyperformtheirduties,givefullplaytotheindependentroleoftheindependentdirectors,tosafeguardtheinterestsofthecompanyasawhole,andtosafeguardthelegitimaterightsandinterestsofallshareholders,especiallyminorityshareholders.Theadvicesonbusinessdevelopmentandcorporategovernancegivenbyindependentdirectorscanbeadopted.VI.DutyPerformanceofSpecialCommitteesundertheBoardofDirectorsintheReportingPeriod1.Theboardofdirectorshasanauditcommitteecomposedofthreedirectors.i.e.,Mr.LiuZhonghua,Mr.ZhangHuaandMr.FangZhi.Theparticularsoftheworkoftheauditcommitteeinthereportperiodareasfollows:
AccordingtotheRulesofProcedureofAuditCommitteeoftheBoardofDirectorsandWorkingRegulationsofAuditCommitteeoftheBoardofDirectorsonAnnualReportandtheworkrequirementsofCSRCand
ShenzhenStockExchangeonannualreportfor2017theauditcommitteecarriedoutaseriesofworkfortheannualauditoftheCompanyfor2017,includingdecidingtheworkingschedulefortheauditoffinancialreportforthereportyearafterconsultationwiththecertifiedpublicaccountantsincharge,reviewingthefinancialreportpreparedbytheCompanyandformingwrittenopinions,issuingtheUrgingLetterforAudittocertifiedpublicaccountantsandrequiringcertifiedpublicaccountantstocarryoutoverallworkplanforauditandsubmitrelevantprogressreporttotheauditcommittee,reviewingthefinancialreportfor2017submittedbytheFinanceDept.oftheCompany(onwhichthecertifiedpublicaccountantsinchargeofannualauditissuedstandardunqualifiedopinions)andgivingwrittenauditingopinions.
2.Theboardofdirectorshasaremunerationcommitteecomposedofthreedirectors,i.e.,Mr.BaoFangzhou,Ms.XiaoDuanandMrHuangHai.Theparticularsoftheworkoftheremunerationcommitteeinthereportperiodareasfollows:
AccordingtotheCompany'sRegulationsonPerformanceAppraisalandRemunerationManagementofSeniorExecutives,theremunerationandappraisalcommitteeauditedtheremunerationdisclosedbytheCompany'sdirectorsfor2017.3.Inthereportperiod,Theboardofdirectorshasanstrategycommitteecomposedoffivedirectors.i.e.,Mr.ZhengRenfa,Mr.WangChunhua,Mr.GuNaikang,Mr.BaoFangzhou.andMr.ZhangHua.StrategyCommitteewillstrengthenthecompany'sstrategicdirection,strategicplanning,research,andsupervisetheimplementationofcorporatestrategies,providetimelyadvicetotheBoarddecisionsonstrategicdevelopment.VII.WorkofthesupervisoryCommitteeDidthesupervisoryCommitteefindanyriskexistinginperformingthesupervisionactivitiesinthereportingperiod
□Yes√NoThesupervisoryCommitteehasnoobjectionaginstanymattersundersupervisioninthereportingperiodVIII.AssessmentandincentiveMechanismforSeniorexecutives
TheCompanyimplementedpositionresponsibilitytoeveryseniormanagement,andmadeclearregulationsonjobstandards,appraisalstandards.Theseniormanagementstaffshallreporttoworkerrepresentativesandacceptcomments.IX.InternalControlI.Specificsituationsonmajordefectsofinternalcontroldiscoveredduringreportperiod□Yes√NoII.Self-evaluationreportoninternalcontrol
Disclosuredateofappraisalreportoninternalcontrol | March29,2019 |
Disclosureindexofappraisalreportoninternalcontrol | www.cninfo.com.cn |
Theratioofthetotalassetsofunitsincludedinthescopeofevaluationaccountingforthetotalassetsonthecompany'sconsolidatedfinancialstatements | 100.00% | |
Theratiooftheoperatingincomeofunitsincludedinthescopeofevaluationaccountingfortheoperatingincomeonthecompany'sconsolidatedfinancialstatements | 100.00% | |
StandardsofDefectsEvaluation | ||
Type | FinancialReport | Non-financialReport |
Qualitativestandard | ThequalitativecriteriafortheevaluationofinternalcontroldeficienciesinfinancialreportsconfirmedbytheCompanyisasfollows:Thefollowingsituations(includingbutnotlimitedto)shallbedeemedas“materialdeficiencies”intheinternalcontrolofthefinancialreport.(1)Therearemajorfraudsmadebythedirectors,orsupervisors,orseniormanagementpersonnelinthecompany’smanagementactivities;(2)Therearematerialmisstatementsinthecurrentfinancialreportbuttheinternalcontrolfailedtofindthemisstatementsduringitsoperation;(3)Thesupervisionsmadebythecompany'sauditcommitteeandtheinternalauditorganizationontheinternalcontrolareinvalid;(4)Thecontrolenvironmentisinvalid;(5)Thematerialdeficienciesfoundandreportedtothemanagementbutarenotcorrectedwithinareasonabletime;(6)Thereisanadministrativepunishmentfromthesecuritiesregulatoryinstitutionduetoaccountingerrors.Thefollowingsituations(includingbutnotlimitedto)shallbedeemedas“significantdeficiencies”intheinternalcontrolofthefinancialreportandthereareintensesignsforthesituations | Thequalitativecriteriafortheevaluationofinternalcontroldeficienciesinnon-financialreportsconfirmedbytheCompanyisasfollows:Materialdeficiencies:seriousviolationsandbeingsentencedtoheavyfinesorneedtakingcriminalresponsibility;utterlydisregardtherulesoflaw,illegalbehaviorsintheoperationandmanagementareparticularlysevereandthecircumstanceisverybad,whichleadstothesuspensionorcessationtothecompany'sdailyoperationandmanagementactivities,andleadstotheauditreportwithadisclaimerofopinionoranegativeopinionissuedbytheCPA;thenegativenewsspreadalloverthecountry,whichcausedseveredamagetothecompany’sreputation;resultedindeceaseofanumberofworkersorcitizens,orresultedindamagesthatareunabletorecovertoworkersorcitizens;reachedthecircumstance(gradeII)ofmajorenvironmentalevent.Significantdeficiencies:illegalandbeingpunished;disregardtherequirementsofthecompany’smanagementsystemandthe |
Disclosuredateofappraisalreportoninternalcontrol | March29,2019 | |
Disclosureindexofappraisalreportoninternalcontrol | www.cninfo.com.cn | |
Theratioofthetotalassetsofunitsincludedinthescopeofevaluationaccountingforthetotalassetsonthecompany'sconsolidatedfinancialstatements | 100.00% | |
Theratiooftheoperatingincomeofunitsincludedinthescopeofevaluationaccountingfortheoperatingincomeonthecompany'sconsolidatedfinancialstatements | 100.00% | |
StandardsofDefectsEvaluation | ||
Type | FinancialReport | Non-financialReport |
becoming“materialdeficiencies”:(1)Fraudsmadebystaffinkeypositions;(2)Thesupervisoryfunctiononcomplianceisinvalid,andtheviolationsofregulationsmayhaveasignificantimpactonthereliabilityofthefinancialreport;(3)Thesignificantdeficienciesreportedtothemanagementbutarenotcorrectedwithinareasonableperiod.Thefollowingsituations(includingbutnotlimitedto)shallbedeemedas“generaldeficiencies”intheinternalcontrolofthefinancialreport.(1)Fraudsmadebystaffinnonkeypositions,orbusinessoperatorsexecutetheimplementationproceduresnotstrictlyconformingtothecompany’spolicybutresultedinnosignificantimpactonthereliabilityofthefinancialreport.(2)Thesupervisoryfunctiononcomplianceisinvalid,andtheviolationsofregulationsmaynothaveasignificantimpactonthereliabilityofthefinancialreport; | relevantrulesoflaw,thereareillegalactsofusingtheauthoritytoseekillegalinterestsinthework,whichsignificantlyaffecttheefficiencyandtheresultofdailyoperationandmanagementactivitiesandleadtotheauditreportwithqualifiedopinionissuedbytheCPA;thenegativenewsspreadinaregion,whichcausedthelarge-extentdamagetothecompany’sreputation;resultedindeceaseofaworkeroracitizen,orresultedindamagesthatneedlongtimetorecovertoworkersorcitizens;reachedthecircumstance(gradeⅢ)ofbigenvironmentalevent.Generaldeficiencies:minorviolations;theawarenessofmanagementunderincompliancewithlawsandregulationsisweak,lackingofbusinessandmanagementknowledge,andtherearephenomenasuchasbeingslackinperformingmanagementduties,beingpassiveandpoorlyexecutetheinstitutioninthework,whichshall |
Disclosuredateofappraisalreportoninternalcontrol | March29,2019 | |
Disclosureindexofappraisalreportoninternalcontrol | www.cninfo.com.cn | |
Theratioofthetotalassetsofunitsincludedinthescopeofevaluationaccountingforthetotalassetsonthecompany'sconsolidatedfinancialstatements | 100.00% | |
Theratiooftheoperatingincomeofunitsincludedinthescopeofevaluationaccountingfortheoperatingincomeonthecompany'sconsolidatedfinancialstatements | 100.00% | |
StandardsofDefectsEvaluation | ||
Type | FinancialReport | Non-financialReport |
(3)Thegeneraldeficienciesreportedtothemanagementbutarenotcorrectedwithinareasonableperiod. | affecttheefficiencyandtheresultofdailyoperationandmanagementactivitiesandleadtosmalleffectstothecompany’smanagementgoal;thenegativenewsspreadwithinthecompany,whichcausedthelittle-extentdamagetothecompany’sreputation;shortlyaffectedthehealthoftheworkersorcitizensandtheworkersorcitizenscanberecoveredinashorttime;reachedthecircumstance(gradeⅣ)ofgeneralenvironmentalevent. |
Disclosuredateofappraisalreportoninternalcontrol | March29,2019 | |
Disclosureindexofappraisalreportoninternalcontrol | www.cninfo.com.cn | |
Theratioofthetotalassetsofunitsincludedinthescopeofevaluationaccountingforthetotalassetsonthecompany'sconsolidatedfinancialstatements | 100.00% | |
Theratiooftheoperatingincomeofunitsincludedinthescopeofevaluationaccountingfortheoperatingincomeonthecompany'sconsolidatedfinancialstatements | 100.00% | |
StandardsofDefectsEvaluation | ||
Type | FinancialReport | Non-financialReport |
StandardsofQuantization | ThequalitativecriteriafortheevaluationofinternalcontroldeficienciesinfinancialreportsconfirmedbytheCompanyisasfollows:Materialdeficiencies:potentialmisstatement≧1%ofthetotalamountoftheowner’sequityor200millionyuan;significantdeficiencies:0.5%ofthetotalamountoftheowner’sequityor100millionyuan≤potentialmisstatement<1%ofthetotalamountoftheowner’sequityor200millionyuan;generaldeficiencies:potentialmisstatement<0.5%ofthetotalamountoftheowner’sequityor100millionyuanStandardsofQuantization | ThequalitativecriteriafortheevaluationofinternalcontroldeficienciesinnonfinancialreportsconfirmedbytheCompanyisasfollows:Materialdeficiencies:potentialmisstatement≧1%ofthetotalamountoftheowner’sequityor200millionyuan;significantdeficiencies:0.5%ofthetotalamountoftheowner’sequityor100millionyuan≤potentialmisstatement<1%ofthetotalamountoftheowner’sequityor200Millionyuan;generaldeficiencies:potentialmisstatement<0.5%ofthetotalamountoftheowner’sequityor100millionyuan. |
Numberofmajordefectsinfinancialreporting(a) | 0 | |
Numberofmajordefectsinnonfinancialreporting(a) | 0 | |
Numberofimportantdefectsinfinancialreporting(a) | 0 | |
Numberofimportantdefectsinnonfinancialreporting(a) | 0 |
X.InternalControlauditreport
√Applicable□Notapplicable
Reviewopinionsintheinternalcontrolauditreport | |
Inouropinion,GuangdongExpresswayhasmaintainedeffectivefinancialreportinternalcontrolinallmaterialaspectsaccordingtothebasicstandardsforEnterpriseinternalcontrolandrelevantregulationsendedDecember31,2018. | |
Disclosureofinternalauditreport | Disclosure |
Disclosuredateofauditreportofinternalcontrol(full-text) | March29,2019 |
Disclosureindexofauditreportofinternalcontrol(full-text) | www.cninfo.com.cn |
Internalauditreport’sopinion | Unqualifiedauditopinion |
Non-financialreportingtheexistenceofsignificantdeficiencies | No |
HastheCPAsissuedaqualifiedauditor’sreportofinternalcontrol.□Yes√NoDoestheinternalcontrolauditreportissuedbytheCPAsagreewiththeself-assessmentreportoftheBoardofDirectors√Yes□No
X.Corporationbonds
WhetherornottheCompanypublicofferingcorporationbondsinstockexchange,whichundueorwithoutpaymentinfullatmaturityontheapprovaldateforannualreportdisclosed
No
XI.FinancialReport
I.Auditreport
Typeofauditopinion | StandardUnqualifiedauditopinion |
Typeofauditopinion | March28,2019 |
Nameofauditfirm | GuangdongZhengzhongZhujiangCertifiedPublicAccountantsCo.,Ltd.(SpecialGeneralPartnership) |
NameofCertifiedpublicAccountant | FengKuncong,XuJihong |
Auditors’Report
ToallshareholdersofGuangdongProvincialExpresswayDevelopmentCo.,Ltd.
I.OpinionWehaveauditedthefinancialstatementsofGuangdongProvincialExpresswayDevelopmentCo.,Ltd.(hereinafterreferredtoas"theCompany"),whichcomprisethebalancesheetasatDecember31,2018,andtheincomestatement,thestatementofcashflowsandthestatementofchangesinowners'equityfortheyearthenendedandnotestothefinancialstatements.
Inouropinion,theattachedfinancialstatementsareprepared,inallmaterialrespects,inaccordancewithAccountingStandardsforBusinessEnterprisesandpresentfairlythefinancialpositionoftheCompanyasatDecember31,2018anditsoperatingresultsandcashflowsfortheyearthenended.
II.BasisforOurOpinionWeconductedourauditinaccordancewiththeAuditingStandardsforCertifiedPublicAccountantsinChina.OurresponsibilitiesunderthosestandardsarefurtherdescribedintheAuditor'sResponsibilitiesfortheAuditoftheFinancialStatementssectionofourreport.AccordingtotheCodeofEthicsforChineseCPA,weareindependentoftheCompanyinaccordancewiththeCodeofEthicsforChineseCPAandwehavefulfilledourotherethicalresponsibilitiesinaccordancewiththeserequirements.Webelievethattheauditevidencewehaveobtainedissufficientandappropriatetoprovideabasisforourauditopinion.
III.KeyAuditMattersKeyauditmattersarethosemattersthat,inourprofessionaljudgment,wereofmostsignificanceinourauditofthefinancialstatementsofthecurrentperiod.Thesematterswereaddressedinthecontextofourauditofthefinancialstatementsasawhole,andinformingouropinionthereon,andwedonotprovideaseparateopiniononthesematters.
(1)Long-termEqiutyInvestment
1Factualdescription
Asstatedin“SectionXIFinancialReportV,ImportantAccountingPoliciesandAccountingEstimates14,Long-termEquityInvestment”,“SectionXIFinancialReportVII,ConsolidatedStatementsProjectChairman9,Long-termEquityInvestment”,asofDecember31,2018,theamountoflong-termequityinvestmentoftheCompanywas3145.645millionyuan.
GuangdongExpresswayboughtsharesfromShenzhenHuiyanExpresswayCo.,Ltd.,GuangdongGuanghuiExpresswayCo.,Ltd.,GuangdongJiangzhongExpresswayCo.,Ltd.,ZhaoqingYuezhaoHighwayCo.,Ltd.,GanzhouKangdaExpresswayCo.,Ltd.,GanzhouGankangHighwayCo.,Ltd.,GuangdongYuekeTechnologyPettyLoanCo.,Ltd.andGuoyuanSecuritiesCo.,Ltd.GuangdongExpresswayCo.,Ltd.Management(hereinafterreferredtoasthe"Management")consideredthatitcanactivelyparticipateintheoperationandfinancialpoliciesofsuchjointventuresandassociates,soGuangdongExpresswayCo.,Ltd.hadasignificantinfluenceonthem.ThefinancialstatementsofthesejointventuresandassociateshaveasignificantimpactontheconsolidatedfinancialstatementsofGuangdongExpresswayCo.,Ltd.
②Howourauditaddressedthematter
Wehaveimplementedthefollowingmajorauditprocedurestorespond:
Checkthejointventureagreement,articlesofassociationforthelong-termequityinvestmentnewlyincreasedincurrentperiod,andGuangdongExpresswayCo.,Ltd.appointsdirectorsandparticipatesinitsoperationanddecision-making;ObtainthecapitalverificationreportoftheInvesteetoconfirmwhetherthelong-termequityinvestmentmeetstheprovisionsofinvestmentcontractandtheagreementandwhethertheaccountingtreatmentiscorrect.
AnalyzetheholdingintentionandabilityofthemanagementofGuangdongExpresswayCo.,Ltd.onthelong-termequityinvestmentandreviewthecorrectnessofthelong-termequityinvestmentclassification.
InspecttheresolutionsoftheBoardofDirectorsandtheShareholders’Meetingofthejointventuresandassociates,andevaluatetheactualimpactoftheGuangdongExpresswayCo.,Ltd.onthemajordecisionsandoperation-relatedactivitiesofsuchjointventuresandassociates.
ThereviewproceduresareconductedforthefinancialstatementsofthejointventuresandassociatestoverifythenetgainsandlossesoftheInvesteeafteradjustingbasedontheprincipleofmaterialityandonthebasisoftheidentifiableassetsfairvaluesofthejointventuresandassociatesobtainedduringinvestments.
Theinvestmentgainsandlossesrecalculatedarecheckedwiththeinvestmentgainsandlossescalculatedbyauditedunitandmadeappropriateadjustments.
PayattentiontowhethertheaccountingtreatmentofGuangdongExpresswayiscorrectincaseofitsjointventuresandassociatesgeneratingnetlossorachievingprofitinsubsequentperiods.
Long-termequityinvestmentsareinspectedonebyone,andjudgewhetherthereisanyindicationofimpairmentforthelong-termequityinvestmentbasedonvariouschangessuchastheoperatingpolicies,legalenvironment,marketdemand,industryandprofitabilityofGuangdongExpresswayCo.,Ltd..Atthesametime,checkthecorrectnessofimpairmentprovisioncalculation.
(2)Depreciationoffixedassetsroadproperty
①Factualdescription
Asstatedin“SectionXIFinancialReportV,ImportantAccountingPoliciesandAccountingEstimates17,Fixedassets”,“SectionXIFinancialReportVII,ConsolidatedStatementsProjectChairman11,Fixedassetst”,asofDecember31,2018,heamountoffixedassetsroadpropertyoftheCompanywas15,247.2669millionyuanandtheaccumulateddepreciationamountofroadpropertywas8026.0744millionyuan.
Atpresent,GuangdongExpresswayisamortizedaccordingtotheworkloadmethod,whichinvolvestheestimationofGuangdongExpresswayCo.,Ltd..ontheestimatedtotaltrafficflowandtheestimationisuncertain.
Whenthereisasignificantdifferencebetweentheestimatedtotaltrafficflowandtheactualmeasurementresult,theroadfixedassetsdepreciationshallbeadjustedaccordingly.Atthesametime,variousfactorsconsiderationandtherelateddataestimationareinvolvedinthetrafficflowforecastingmodel.Iftheamortizationrateandtheannualaverageincrementratearenotestimatedproperly,thedepreciationamountofexpresswaypropertywillbewrongtogeneratetheriskofmaterialmisstatement.
FixedassetroadpropertyisthecoreassetofGuangdongExpresswayCo.,Ltd.Depreciationofexpresswaypropertyhasasignificantimpactonannualvehicletravelcostsandexpenses,sotheworkloadmethodforamortizationoffixedassetsroadpropertyisrecognizedasakeyauditmatter.
②Howourauditaddressedthematter
Theproceduresofourmanagementforamortizationofexpresswaypropertywithworkloadmethodmainlyinclude:
Obtainforecastreportfromanexternalindependentprofessionalorganizationandreviewitskeyassumptions,whilecomparingitskeyassumptionswiththeexpresswayplanningofthegovernmenttransportsectorandreviewingthequalifications,professionalcompetenceandindependenceofexternalindependentprofessionalorganization;
CheckwhethertheactualtrafficflowdataappliedbyGuangdongExpresswayCo.,Ltd.intheprocessofdepreciationcalculationoffixedassetsroadpropertyisconsistentwiththeactualtrafficflowdataobtainedbyGuangdongExpresswayCo.,Ltd.fromexternalserviceunits;
Tounderstandthemethodofforecastingthetrafficflowofthefutureremainingoperationperiodusedinthetrafficflowforecastreportofanindependentexternalprofessionalorganizationandtoevaluatethereliabilityofthetrafficflowforecastreportbycomparingtheforecastingtrafficflowinthepastyearswiththeactualtrafficflowintheperiod.
Depreciationoffixedassetsroadpropertyistobere-calculatedtoverifythecorrectnessofthedepreciationamountoffixedassetsroadpropertyinthefinancialstatements.
(3)Deferredincometaxassetsrelatedtodeductiblelosses
①Factualdescription
Asstatedin“SectionXIFinancialReportV,ImportantAccountingPoliciesandAccountingEstimates29,DeferredIncomeTaxAssetsandDeferredIncomeTaxLiabilities”,“SectionXIFinancialReportVII,ConsolidatedStatementsProjectChairman15,DeferredIncomeTaxAssets”,asofDecember31,2018,theamountofdeferredincometaxassetsoftheCompanywas447.485millionyuanofwhichthedeferredincometaxassetconfirmedwithoutmakingupforthetaxlosswas320.3474millionyuan.
TheGuangdongExpresswayHeadquarterhaslargertaxlossesthathavenotbeenmadeupduring2014to2016.In2018,itoffsetwiththecorrespondingtaxableincomegeneratedafterabsorbingandcombiningFokaiCompany,awholly-ownedsubsidiaryofGuangdongExpressway.TheCompanyinitiallyestimatedandconfirmedthedeferredincometaxassetsof320.3474millionyuan.Whenconfirmingthedeferredincometaxassets,theManagementjudgestheGuangdongExpressway.HeadquarterislikelytohavesufficienttaxableincometooffsetthedeductiblelossespriortotheexpirationofthedeductiblelossesaccordingtothefinancialforecastoftheGuangdongExpressway.Headquarterinthefuture.Asfortheevaluationonwhetherthedeferredtaxassetswillberealizedinthefuture,itneedstheManagementtomakesignificantjudgmentsanditsestimatesandassumptionsarewithcertainuncertainties.
②HowourauditaddressedthematterTheprocedureswehaveimplementedfortheaccountingestimationofdeferredincometaxassetsbyGuangdongProvincialExpresswayDevelopmentCompanyinclude:
Wecommunicatewithourtaxexpertstoconfirmthattheirunrecoveredlossescanbecompensatedbythecombinedtaxableincome.
ObtainthefinancialforecastapprovedbythemanagementforthefutureperiodofGuangdongHighSpeedCompany,evaluatewhetheritscompilationconformstotheindustryanditsownsituation,andconsidertheimpactofrelevantspecialmattersonthereliabilityoffuturefinancialforecast.
Toreviewwhethertheconfirmationofdeferredincometaxassetsislimitedtotheamountoftaxableincomelikelytobeobtainedtooffsetdeductiblelossesinthefuture;
Implementauditproceduressuchasinspectionandrecalculation,andreviewtheaccuracyofaccountingtreatmentofdeferredincometaxassetswhichshouldbeconfirmedbyGuangdongProvincialExpresswayDevelopmentCompanyfordeductiblelosses..
IV.OtherinformationThemanagementoftheCompanyisresponsiblefortheotherinformation.TheotherinformationcomprisesinformationoftheCompany'sannualreportin2018,butexcludesthefinancialstatementsandourauditor'sreport.Ouropiniononthefinancialstatementsdoesnotcovertheotherinformationandwedonotandwillnotexpressanyformofassuranceconclusionthereon.Inconnectionwithourauditofthefinancialstatements,ourresponsibilityistoreadtheotherinformationidentifiedaboveand,indoingso,considerwhethertheotherinformationismateriallyinconsistentwiththefinancialstatementsorourknowledgeobtainedintheaudit,orotherwiseappearstobemateriallymisstated.
If,basedontheworkwehaveperformedontheotherinformationthatweobtainedpriortothedateofthisauditor'sreport,weconcludethatthereisamaterialmisstatementofthisotherinformation,wearerequiredtoreportthatfact.Wehavenothingtoreportinthisregard
V.ResponsibilitiesofManagementandThoseChargedwithGovernancefortheFinancialStatementsTheCompany'smanagementisresponsibleforpreparingthefinancialstatementsinaccordancewiththerequirementsofAccountingStandardsforBusinessEnterprisestoachieveafairpresentation,andfordesigning,implementingandmaintaininginternalcontrolthatisnecessarytoensurethatthefinancialstatementsarefreefrommaterialmisstatements,whetherduetofraudsorerrors.Inpreparingthefinancialstatements,managementoftheCompanyisresponsibleforassessingtheCompany'sabilitytocontinueasagoingconcern,disclosingmattersrelatedtogoingconcernandusingthegoingconcernbasisofaccountingunlessmanagementeitherintendstoliquidatetheCompanyortoceaseoperations,orhasnorealisticalternativebuttodoso.
ThosechargedwithgovernanceareresponsibleforoverseeingtheCompany'sfinancialreportingprocess.
VI.Auditor'sResponsibilitiesfortheAuditoftheFinancialStatementsOurobjectivesaretoobtainreasonableassuranceaboutwhetherthefinancialstatementsasawholearefreefrommaterialmisstatement,whetherduetofraudorerror,andtoissueanauditor'sreportthatincludesouropinion.Reasonableassuranceisahighlevelofassurance,butisnotaguaranteethatanauditconductedinaccordancewiththeauditstandardswillalwaysdetectamaterialmisstatementwhenitexists.Misstatementscanarisefrom
fraudorerrorandareconsideredmaterialif,individuallyorintheaggregate,theycouldreasonablybeexpectedtoinfluencetheeconomicdecisionsofuserstakenonthebasisofthesefinancialstatements.
AspartofanauditinaccordancewithISAs,weexerciseprofessionaljudgmentandmaintainprofessionalscepticismthroughouttheaudit.Wealso:
(1)Identifyandassesstherisksofmaterialmisstatementofthefinancialstatements,whetherduetofraudorerror,designandperformauditproceduresresponsivetothoserisks,andobtainauditevidencethatissufficientandappropriatetoprovideabasisforouropinion.Theriskofnotdetectingamaterialmisstatementresultingfromfraudishigherthanforoneresultingfromerror,asfraudmayinvolvecollusion,forgery,omissions,misrepresentations,ortheoverrideofinternalcontrol.
(2)Obtainanunderstandingofinternalcontrolrelevanttotheauditinordertodesignauditproceduresthatareappropriateinthecircumstances.
(3)EvaluatetheappropriatenessofaccountingpoliciesusedandthereasonablenessofaccountingestimatesandrelateddisclosuresmadebymanagementoftheCompany.(4)ConcludeontheappropriatenessofusingthegoingconcernassumptionbythemanagementoftheCompany,andconclude,basedontheauditevidenceobtained,whetheramaterialuncertaintyexistsrelatedtoeventsorconditionsthatmaycastsignificantdoubtontheCompany'sabilitytocontinueasagoingconcern.Ifweconcludethatamaterialuncertaintyexists,wearerequiredtodrawattentioninourauditor'sreporttotherelateddisclosuresinthefinancialstatementsor,ifsuchdisclosuresareinadequate,tomodifyouropinion.Ourconclusionsarebasedontheauditevidenceobtaineduptothedateofourauditor'sreport.However,futureeventsorconditionsmaycausetheCompanytoceasetocontinueasagoingconcern.(5)Evaluatetheoverallpresentation,structureandcontentofthefinancialstatements,includingthedisclosures,andwhetherthefinancialstatementsrepresenttheunderlyingtransactionsandeventsinamannerthatachievesfairpresentation.(6)ObtainsufficientappropriateauditevidenceregardingthefinancialinformationoftheentitiesorbusinessactivitieswithintheCompanytoexpressanopiniononthefinancialstatementsandbearallliabilityfortheopinion.Wecommunicatewiththosechargedwithgovernanceregarding,amongothermatters,theplannedscopeandtimingoftheauditandsignificantauditmatters,includinganysignificantdeficienciesininternalcontrolthatweidentifyduringouraudit.Wealsoprovidethosechargedwithgovernancewithastatementthatwehavecompliedwithrelevantethicalrequirementsregardingindependence,andtocommunicatewiththemallrelationshipsandothermattersthatmayreasonablybethoughttobearonourindependence,andwhereapplicable,relatedsafeguards.Fromthematterscommunicatedwiththosechargedwithgovernance,wedeterminethosemattersthatwereofmostsignificanceintheauditofthefinancialstatementsofthecurrentperiodandarethereforethekeyauditmatters.Wedescribethesemattersinourauditor'sreportunlesslaworregulationprecludespublicdisclosureaboutthematterorwhen,inextremelyrarecircumstances,wedeterminethatamattershouldnotbecommunicatedinourreportbecausetheadverseconsequencesofdoingsowouldreasonablybeexpectedtooutweighthepublicinterestbenefitsofsuchcommunication.GuangdongZhengzhongZhujiangCertifiedPublicAccountantsCo.,Ltd.(SpecialGeneralPartnership)CertifiedPublicAccountantofChina:FengKuncong(projectpartner)
CertifiedPublicAccountantofChina:XuJihong
GuangzhouChinaMarch28,2019
II.FinancialStatement
Currencyunitforthestatementsinthenotestothesefinancialstatements:RMB1.ConsolidatedbalancesheetPreparedby::GuangdongProvincialExpresswayDevelopmentCo.,Ltd.
December31,2018
InRMB
Items | Attheendofterm | Beginningofterm |
Currentasset: | ||
Monetaryfund | 2,124,524,996.32 | 2,363,042,700.42 |
Settlementprovision | ||
Outgoingcallloan | ||
Financialassetsmeasuredatfairvaluewithvariationsaccountedintocurrentincomeaccount | ||
Derivativefinancialassets | ||
Notesreceivable&accountreceivable | 91,076,995.07 | 92,642,625.45 |
Including:Notesreceivable | ||
Accountreceivable | 91,076,995.07 | 92,642,625.45 |
Prepayments | 1,912,943.40 | 4,451,901.75 |
Insurancereceivable | ||
Reinsurancereceivable | ||
ProvisionsofReinsurancecontractsreceivable | ||
Otheraccountreceivable | 16,487,256.02 | 15,415,512.07 |
Including:Interestreceivable | ||
Dividendreceivable | 1,205,472.90 | |
Repurchasingoffinancialassets | ||
Inventories | 81,017.91 | |
Assetsheldforsales | ||
Non-currentassetduewithin1year | 51,745.32 | 55,669.14 |
Othercurrentasset | 76,576.08 | |
Totalofcurrentassets | 2,234,134,954.04 | 2,475,684,984.91 |
Items | Attheendofterm | Beginningofterm |
Non-currentassets: | ||
Loansandpaymentonother’sbehalfdisbursed | ||
Available-for-salefinancialassets | 1,668,791,594.53 | 1,751,357,624.93 |
Held-to-maturityinvestments | ||
Long-termreceivable | ||
Longtermshareequityinvestment | 3,145,644,970.07 | 3,047,275,000.00 |
Propertyinvestment | 3,579,007.54 | 2,755,757.68 |
Fixedassets | 7,600,046,319.91 | 8,505,434,890.71 |
Constructioninprogress | 1,089,473,425.63 | 357,612,211.95 |
Productivebiologicalassets | ||
Oilandnaturalgasassets | ||
Intangibleassets | 5,739,020.48 | 7,096,435.17 |
R&Dcosts | ||
Goodwill | ||
Long-germexpensestobeamortized | 1,221,781.88 | 92,768.83 |
Deferredtaxassets | 447,485,034.79 | 335,299,025.28 |
Othernon-currentasset | 99,794,665.58 | 40,706,394.26 |
Totalofnon-currentassets | 14,061,775,820.41 | 14,047,630,108.81 |
Totalofassets | 16,295,910,774.45 | 16,523,315,093.72 |
Currentliabilities | ||
Short-termloans | ||
LoanfromCentralBank | ||
Depositreceivedandholdforothers | ||
Borrowingffunds | ||
Financialliabilitiesmeasuredatfairvaluewithvariationsaccountedintocurrentincomeaccount | ||
Derivativefinancialliabilities | ||
Notespayable&accountpayable | 203,779,190.74 | 266,934,026.99 |
Advancepayment | 12,039,708.01 | 14,856,113.90 |
Sellingofrepurchasedfinancialassets | ||
Feesandcommissionsreceivable | ||
Employees’wagepayable | 13,122,437.17 | 11,334,182.16 |
Taxpayable | 104,198,746.06 | 428,647,394.29 |
Otheraccountpayable | 191,254,464.84 | 121,998,386.07 |
Including:Interestpayable | 8,971,576.57 | 8,494,355.93 |
Dividendpayable | 17,191,142.23 | 26,840,792.20 |
Reinsurancefeepayable | ||
Insurancecontractprovision | ||
Entrustedtradingofsecurities | ||
Entrustedsellingofsecurities |
Items | Attheendofterm | Beginningofterm |
Liabilitiesheldforsales | ||
Non-currentliabilityduewithin1year | 2,498,480,000.00 | 1,218,610,000.00 |
Othercurrentliability | ||
Totalofcurrentliability | 3,022,874,546.82 | 2,062,380,103.41 |
Non-currentliabilities: | ||
Long-termloan | 2,983,040,000.00 | 4,744,170,000.00 |
Bondpayable | ||
Including:preferredstock | ||
Sustainabledebt | ||
Long-termpayable | 38,022,210.11 | 2,022,210.11 |
Long-termpayableemployees’sremuneration | ||
Expectedliabilities | ||
Deferredincome | ||
Deferredincometaxliability | 205,672,389.59 | 260,632,098.75 |
Othernon-currentliabilities | ||
Totalnon-currentliabilities | 3,226,734,599.70 | 5,006,824,308.86 |
Totalofliability | 6,249,609,146.52 | 7,069,204,412.27 |
Owners’equity | ||
Sharecapital | 2,090,806,126.00 | 2,090,806,126.00 |
Otherequityinstruments | ||
Including:preferredstock | ||
Sustainabledebt | ||
Capitalreserves | 2,536,774,965.31 | 2,510,069,749.76 |
Less:Sharesinstock | ||
Othercomprehensiveincome | 245,109,114.81 | 327,263,824.17 |
Specialreserves | ||
Surplusreserves | 775,402,561.35 | 544,821,130.03 |
Commonriskprovision | ||
Retainedprofit | 3,938,609,136.59 | 3,550,110,288.49 |
Totalofowner’sequitybelongtotheparentcompany | 9,586,701,904.06 | 9,023,071,118.45 |
Minorityshareholders’equity | 459,599,723.87 | 431,039,563.00 |
Totalofowners’equity | 10,046,301,627.93 | 9,454,110,681.45 |
Totalofliabilitiesandowners’equity | 16,295,910,774.45 | 16,523,315,093.72 |
LegalRepresentative:ZhengRenfaGeneralManager:WangChunhuaPersoninchargeofaccounting:FangZhiAccountingDeptLeader:ZhouFang
2.ParentCompanyBalanceSheet
InRMB
Items | Attheendofterm | Beginningofterm |
Currentasset: | ||
Monetaryfund | 2,096,597,568.04 | 2,130,475,892.67 |
Financialassetsmeasuredatfairvaluewithvariationsaccountedintocurrentincomeaccount | 0.00 | 0.00 |
Derivativefinancialassets | 0.00 | 0.00 |
Notesreceivable&accountreceivable | 18,405,847.15 | 19,001,899.29 |
Including:Notesreceivable | 0.00 | 0.00 |
Accountreceivable | 18,405,847.15 | 19,001,899.29 |
Prepayments | 1,532,057.82 | 1,520,014.23 |
Otheraccountreceivable | 9,323,782.66 | 17,368,588.12 |
Including:Interestreceivable | 1,880,148.12 | 2,070,385.95 |
Dividendreceivable | 1,205,472.90 | 10,000,000.00 |
Inventories | 0.00 | 0.00 |
Assetsheldforsales | 0.00 | 0.00 |
Non-currentassetduewithin1year | 100,000,000.00 | 80,000,000.00 |
Othercurrentasset | 0.00 | 0.00 |
Totalofcurrentassets | 2,225,859,255.67 | 2,248,366,394.31 |
Non-currentassets: | ||
Available-for-salefinancialassets | 1,668,791,594.53 | 1,751,357,624.93 |
Held-to-maturityinvestments | 0.00 | 0.00 |
Long-termreceivable | 0.00 | 0.00 |
Longtermshareequityinvestment | 4,679,309,978.88 | 8,216,937,219.66 |
Propertyinvestment | 3,326,869.29 | 2,503,619.43 |
Fixedassets | 5,292,898,635.00 | 5,784,192,105.58 |
Constructioninprogress | 1,060,230,773.10 | 353,858,869.95 |
Productivebiologicalassets | 0.00 | 0.00 |
Oilandnaturalgasassets | 0.00 | 0.00 |
Intangibleassets | 1,741,277.53 | 2,856,323.67 |
R&Dcosts | 0.00 | 0.00 |
Goodwill | 0.00 | 0.00 |
Long-germexpensestobeamortized | 0.00 | 0.00 |
Deferredtaxassets | 447,328,530.77 | 335,050,091.31 |
Othernon-currentasset | 790,720,727.48 | 827,775,329.66 |
Totalofnon-currentassets | 13,944,348,386.58 | 17,274,531,184.19 |
Totalofassets | 16,170,207,642.25 | 19,522,897,578.50 |
Currentliabilities | ||
Short-termloans | 0.00 | 0.00 |
Items | Attheendofterm | Beginningofterm |
Financialliabilitiesmeasuredatfairvaluewithvariationsaccountedintocurrentincomeaccount | 0.00 | 0.00 |
Derivativefinancialliabilities | 0.00 | 0.00 |
Notespayableandaccountpayable | 124,833,335.72 | 200,070,986.17 |
Advancepayment | 0.00 | 0.00 |
Employees’wagepayable | 5,669,203.37 | 5,419,848.48 |
Taxpayable | 10,297,144.52 | 12,893,797.03 |
Otheraccountpayable | 142,457,135.79 | 4,503,328,739.76 |
Including:Interestpayable | 8,373,096.36 | 7,901,914.26 |
Dividendpayable | 17,191,142.23 | 14,340,792.20 |
Liabilitiesheldforsales | 0.00 | 0.00 |
Non-currentliabilityduewithin1year | 2,327,180,000.00 | 968,610,000.00 |
Othercurrentliability | 977,236,252.44 | 644,691,748.64 |
Totalofcurrentliability | 3,587,673,071.84 | 6,335,015,120.08 |
Non-currentliabilities: | ||
Long-termloan | 2,731,990,000.00 | 4,545,170,000.00 |
Bondpayable | 0.00 | 0.00 |
Including:preferredstock | 0.00 | 0.00 |
Sustainabledebt | 0.00 | 0.00 |
Long-termpayable | 38,022,210.11 | 2,022,210.11 |
Employees’wagepayable | 0.00 | 0.00 |
Expectedliabilities | 0.00 | 0.00 |
Deferredincome | 0.00 | 0.00 |
Deferredincometaxliability | 88,220,604.00 | 108,805,411.60 |
Othernon-currentliabilities | 0.00 | 0.00 |
TotalofNon-currentliabilities | 2,858,232,814.11 | 4,655,997,621.71 |
Totalofliability | 6,445,905,885.95 | 10,991,012,741.79 |
Owners’equity | ||
Sharecapital | 2,090,806,126.00 | 2,090,806,126.00 |
Otherequityinstrument | 0.00 | 0.00 |
Including:preferredstock | 0.00 | 0.00 |
Sustainabledebt | 0.00 | 0.00 |
Capitalreserves | 2,948,663,196.93 | 2,921,957,981.38 |
Less:Sharesinstock | 0.00 | 0.00 |
Othercomprehensiveincome | 245,109,114.81 | 327,263,824.17 |
Specialreserves | 0.00 | 0.00 |
Surplusreserves | 759,558,277.70 | 528,976,846.38 |
Retainedprofit | 3,680,165,040.86 | 2,662,880,058.78 |
Totalofowners’equity | 9,724,301,756.30 | 8,531,884,836.71 |
Totalofliabilitiesandowners’equity | 16,170,207,642.25 | 19,522,897,578.50 |
LegalRepresentative:ZhengRenfaGeneralManager:WangChunhuaPersoninchargeofaccounting:FangZhiAccountingDeptLeader:ZhouFang
3.ConsolidatedIncomestatement
InRMB
Items | Reportperiod | Sameperiodofthepreviousyear |
I.Incomefromthekeybusiness | 3,218,694,083.94 | 3,089,055,399.21 |
Incl:Businessincome | 3,218,694,083.94 | 3,089,055,399.21 |
Interestincome | 0.00 | 0.00 |
Insurancefeeearned | 0.00 | 0.00 |
Feeandcommissionreceived | 0.00 | 0.00 |
II.Totalbusinesscost | 1,691,379,458.72 | 1,700,430,222.02 |
Incl:Businesscost | 1,279,095,071.32 | 1,247,122,353.35 |
Interestexpense | 0.00 | 0.00 |
Feeandcommissionpaid | 0.00 | 0.00 |
Insurancedischargepayment | 0.00 | 0.00 |
Netclaimamountpaid | 0.00 | 0.00 |
Netamountofwithdrawalofinsurancecontractreserve | 0.00 | 0.00 |
Insurancepolicydividendpaid | 0.00 | 0.00 |
Reinsuranceexpenses | 0.00 | 0.00 |
Businesstaxandsurcharge | 15,987,266.39 | 16,000,201.45 |
Salesexpense | 0.00 | 0.00 |
Administrativeexpense | 183,392,148.68 | 179,811,709.59 |
R&Dcosts | 1,318,344.01 | 9,773,866.38 |
Financialexpenses | 212,592,783.74 | 247,306,751.08 |
Including:Interestexpense | 237,334,325.27 | 276,594,308.94 |
Interestincome | 31,889,543.71 | 33,696,479.00 |
Assetimpairmentloss | -1,006,155.42 | 415,340.17 |
Add:Otherincme | 1,113,228.32 | 0.00 |
Investmentgain(“-”forloss) | 507,659,683.96 | 448,268,367.19 |
Incl:investmentgainsfromaffiliates | 463,873,066.20 | 423,940,445.45 |
Changingincomeoffairvalue | 0.00 | 0.00 |
Gainsfromcurrencyexchange | 0.00 | 0.00 |
Incomeondisposalofassets | 66,431,966.75 | 0.00 |
III.Operationalprofit(“-”forloss) | 2,102,519,504.25 | 1,836,893,544.38 |
Add:Non-operationalincome | 4,175,801.94 | 65,779,816.71 |
Items | Reportperiod | Sameperiodofthepreviousyear |
Less:Non-operatingexpense | 8,979,998.49 | 6,681,492.26 |
IV.Totalprofit(“-”forloss) | 2,097,715,307.70 | 1,895,991,868.83 |
Less:Incometaxexpenses | 194,374,904.99 | 185,768,181.41 |
V.Netprofit | 1,903,340,402.71 | 1,710,223,687.42 |
1.Netcontinuingoperatingprofit | 1,903,340,402.71 | 1,710,223,687.42 |
2.Terminationofoperatingnetprofit | 0.00 | 0.00 |
Netprofitattributabletotheownersofparentcompany | 1,677,028,179.18 | 1,509,922,398.70 |
Minorityshareholders’equity | 226,312,223.53 | 200,301,288.72 |
VI.Netafter-taxofothercomprehensiveincome | -82,154,709.36 | -75,022,130.07 |
Netofprofitofothercomprehensiveincomeattributabletoownersoftheparentcompany. | -82,154,709.36 | -75,022,130.07 |
(I)Othercomprehensiveincomeitemsthatwillnotbereclassifiedintogains/lossesinthesubsequentaccountingperiod | 0.00 | 0.00 |
1.Re-measurementofdefinedbenefitplansofchangesinnetdebtornetassets | 0.00 | 0.00 |
2.Othercomprehensiveincomeundertheequitymethodinvesteecannotbereclassifiedintoprofitorloss. | 0.00 | 0.00 |
(II)Othercomprehensiveincomethatwillbereclassifiedintoprofitorloss. | -82,154,709.36 | -75,022,130.07 |
1.Othercomprehensiveincomeundertheequitymethodinvesteecanbereclassifiedintoprofitorloss. | -20,400,286.56 | 847,589.37 |
2.Gainsandlossesfromchangesinfairvalueavailableforsalefinancialassets | -61,754,422.80 | -75,869,719.44 |
3.Held-to-maturityinvestmentsreclassifiedtogainsandlossesofavailableforsalefinancialassets | 0.00 | 0.00 |
4.Theeffectiveportionofcashflowhedgesandlosses | 0.00 | 0.00 |
5.Translationdifferencesincurrencyfin | 0.00 | 0.00 |
Items | Reportperiod | Sameperiodofthepreviousyear |
ancialstatements | ||
6.Other | 0.00 | 0.00 |
NetofprofitofothercomprehensiveincomeattributabletoMinorityshareholders’equity | 0.00 | 0.00 |
VII.Totalcomprehensiveincome | 1,821,185,693.35 | 1,635,201,557.35 |
Totalcomprehensiveincomeattributabletotheowneroftheparentcompany | 1,594,873,469.82 | 1,434,900,268.63 |
Totalcomprehensiveincomeattributableminorityshareholders | 226,312,223.53 | 200,301,288.72 |
VIII.Earningspershare | ||
(I)Basicearningspershare | 0.80 | 0.72 |
(II)Dilutedearningspershare | 0.80 | 0.72 |
Thecurrentbusinesscombinationundercommoncontrol,thenetprofitsofthecombinedpartybeforeachievednetprofitofRMB0.00,lastperiodthecombinedpartyrealizedRMB0.00.LegalRepresentative:ZhengRenfaGeneralManager:WangChunhuaPersoninchargeofaccounting:FangZhiAccountingDeptLeader:ZhouFang
4.IncomestatementoftheParentCompany
InRMB
Items | Reportperiod | Sameperiodofthepreviousyear |
I.Incomefromthekeybusiness | 1,407,552,753.41 | 633,884,348.76 |
Incl:Businesscost | 715,167,422.95 | 334,909,223.31 |
Businesstaxandsurcharge | 7,835,359.08 | 3,307,085.26 |
Salesexpense | 0.00 | 0.00 |
Administrativeexpense | 110,081,131.38 | 88,330,754.08 |
R&Dcosts | 0.00 | 0.00 |
Financialexpenses | 195,110,213.09 | 161,543,283.48 |
Including:Interestexpenses | 223,418,837.71 | 191,514,874.96 |
Interestincome | 31,556,863.82 | 30,122,893.22 |
Assetimpairmentloss | -1,013,982.92 | 0.00 |
Add:Otherincome | 396,608.55 | 0.00 |
Investmentgain(“-”forloss) | 1,814,856,174.83 | 1,543,339,240.39 |
Incl:investmentgainsfromaffiliates | 463,873,066.20 | 423,940,445.45 |
Gainsfromchangeoffirvalue(“-”forloss) | 0.00 | 0.00 |
Assetsdisposalincome | 200,494.75 | 0.00 |
II.Operationalprofit(“-”forloss) | 2,195,825,887.96 | 1,589,133,243.02 |
Add:Non-operationalincome | 1,131,640.33 | 1,954,480.96 |
Less:Nonbusinessexpenses | 3,421,654.59 | 993,641.04 |
III.Totalprofit(“-”forloss) | 2,193,535,873.70 | 1,590,094,082.94 |
Less:Incometaxexpenses | -112,278,439.46 | -188,551,718.47 |
IV.Netprofit | 2,305,814,313.16 | 1,778,645,801.41 |
1.Netcontinuingoperatingprofit | 2,305,814,313.16 | 1,778,645,801.41 |
2.Terminationofoperatingnetprofit | 0.00 | 0.00 |
V.Netafter-taxofothercomprehensiveincome | -82,154,709.36 | -75,022,130.07 |
(I)Othercomprehensiveincomeitemsthatwillnotbereclassifiedintogains/lossesinthesubsequentaccountingperiod | 0.00 | 0.00 |
1.Re-measurementofdefinedbenefitplansofchangesinnetdebtornetassets | 0.00 | 0.00 |
2.Othercomprehensiveincomeundertheequitymethodinvesteecannotbereclassifiedintoprofitorloss. | 0.00 | 0.00 |
(II)Othercomprehensiveincomethatwillbereclassifiedintoprofitorloss. | -82,154,709.36 | -75,022,130.07 |
1.Othercomprehensiveincomeundertheequitymethodinvesteecanbereclassi | -20,400,286.56 | 847,589.37 |
Items | Reportperiod | Sameperiodofthepreviousyear |
fiedintoprofitorloss. | ||
2.Gainsandlossesfromchangesinfairvalueavailableforsalefinancialassets | -61,754,422.80 | -75,869,719.44 |
3.Held-to-maturityinvestmentsreclassifiedtogainsandlossesofavailableforsalefinancialassets | 0.00 | 0.00 |
4.Theeffectiveportionofcashflowhedgesandlosses | 0.00 | 0.00 |
5.Translationdifferencesincurrencyfinancialstatements | 0.00 | 0.00 |
6.Other | 0.00 | 0.00 |
VI.Totalcomprehensiveincome | 2,223,659,603.80 | 1,703,623,671.34 |
VII.Earningspershare | ||
(I)Basicearningspershare | ||
(II)Dilutedearningspershare |
LegalRepresentative:ZhengRenfaGeneralManager:WangChunhuaPersoninchargeofaccounting:FangZhiAccountingDeptLeader:ZhouFang
5.ConsolidatedCashflowstatement
InRMB
Items | Reportperiod | Sameperiodofthepreviousyear |
I.Cashflowsfromoperatingactivities | ||
Cashreceivedfromsalesofgoodsorrendingofservices | 3,287,727,513.56 | 3,136,065,844.60 |
Netincreaseofcustomerdepositsandcapitalkeptforbrothercompany | 0.00 | 0.00 |
Netincreaseofloansfromcentralbank | 0.00 | 0.00 |
Netincreaseofinter-bankloansfromotherfinancialbodies | 0.00 | 0.00 |
Cashreceivedagainstoriginalinsurancecontract | 0.00 | 0.00 |
Netcashreceivedfromreinsurancebusiness | 0.00 | 0.00 |
Netincreaseofclientdepositandinvestment | 0.00 | 0.00 |
Netincreaseofamountfromdisposalfinancialassetsthatmeasuredbyfairvalueandwithvariationreckonedintocurrentgains/losses | 0.00 | 0.00 |
Cashreceivedfrominterest,commissionchargeandcommission | 0.00 | 0.00 |
Netincreaseofinter-bankfundreceived | 0.00 | 0.00 |
Netincreaseofrepurchasingbusiness | 0.00 | 0.00 |
Taxreturned | 0.00 | 0.00 |
Othercashreceivedfrombusinessoperation | 96,620,294.65 | 100,599,558.66 |
Sub-totalofcashinflow | 3,384,347,808.21 | 3,236,665,403.26 |
Cashpaidforpurchasingofmerchandiseandservices | 282,911,012.21 | 200,278,429.82 |
Netincreaseofclienttradeandadvance | 0.00 | 0.00 |
Netincreaseofsavingsncentralbankandbrothercompany | 0.00 | 0.00 |
Cashpaidfororiginalcontractclaim | 0.00 | 0.00 |
Cashpaidforinterest,processingfeeandcommission | 0.00 | 0.00 |
Items | Reportperiod | Sameperiodofthepreviousyear |
Cashpaidforpolicydividend | 0.00 | 0.00 |
Cashpaidtostaffsorpaidforstaffs | 331,709,871.16 | 317,865,103.86 |
Taxespaid | 778,835,419.88 | 428,844,550.88 |
Othercashpaidforbusinessactivities | 74,905,926.92 | 94,687,393.35 |
Sub-totalofcashoutflowfrombusinessactivities | 1,468,362,230.17 | 1,041,675,477.91 |
Cashflowgeneratedbybusinessoperation,net | 1,915,985,578.04 | 2,194,989,925.35 |
II.Cashflowgeneratedbyinvesting | ||
Cashreceivedfrominvestmentretrieving | 0.00 | 0.00 |
Cashreceivedasinvestmentgains | 414,389,169.98 | 424,307,452.94 |
Netcashretrievedfromdisposaloffixedassets,intangibleassets,andotherlong-termassets | 228,222,572.51 | 619,050.00 |
Netcashreceivedfromdisposalofsubsidiariesorotheroperationalunits | 0.00 | 0.00 |
Otherinvestment-relatedcashreceived | 0.00 | 59,995,667.68 |
Sub-totalofcashinflowduetoinvestmentactivities | 642,611,742.49 | 484,922,170.62 |
Cashpaidforconstructionoffixedassets,intangibleassetsandotherlong-termassets | 845,371,278.92 | 429,007,555.79 |
Cashpaidasinvestment | 0.00 | 799,999,959.30 |
Netincreaseofloanagainstpledge | 0.00 | 0.00 |
Netcashreceivedfromsubsidiariesandotheroperationalunits | 0.00 | 0.00 |
Othercashpaidforinvestmentactivities | 0.00 | 0.00 |
Sub-totalofcashoutflowduetoinvestmentactivities | 845,371,278.92 | 1,229,007,515.09 |
Netcashflowgeneratedbyinvestment | -202,759,536.43 | -744,085,344.47 |
III.Cashflowgeneratedbyfinancing | ||
Cashreceivedasinvestment | 0.00 | 0.00 |
Incl:Cashreceivedasinvestmentfromminorshareholders | 0.00 | 0.00 |
Items | Reportperiod | Sameperiodofthepreviousyear |
Cashreceivedasloans | 1,385,000,000.00 | 1,828,000,000.00 |
Cashreceivedfrombondplacing | 0.00 | 0.00 |
Otherfinancing–relatedcashreceived | 0.00 | 10,277,777.78 |
Sub-totalofcashinflowfromfinancingactivities | 1,385,000,000.00 | 1,838,277,777.78 |
Cashtorepaydebts | 1,785,260,000.00 | 2,225,880,000.00 |
Cashpaidasdividend,profit,orinterests | 1,550,437,061.08 | 1,304,986,387.00 |
Incl:Dividendandprofitpaidbysubsidiariestominorshareholders | 210,252,062.66 | 309,648,023.87 |
Othercashpaidforfinancingactivities | 0.00 | 0.00 |
Sub-totalofcashoutflowduetofinancingactivities | 3,335,697,061.08 | 3,530,866,387.00 |
Netcashflowgeneratedbyfinancing | -1,950,697,061.08 | -1,692,588,609.22 |
IV.Influenceofexchangeratealternationoncashandcashequivalents | -2,267,884.63 | 1,447,084.51 |
V.Netincreaseofcashandcashequivalents | -239,738,904.10 | -240,236,943.83 |
Add:balanceofcashandcashequivalentsatthebeginningofterm | 2,363,042,700.42 | 2,603,279,644.25 |
VI..Balanceofcashandcashequivalentsattheendofterm | 2,123,303,796.32 | 2,363,042,700.42 |
LegalRepresentative:ZhengRenfaGeneralManager:WangChunhuaPersoninchargeofaccounting:FangZhiAccountingDeptLeader:ZhouFang
6.CashFlowStatementoftheParentCompany
InRMB
Items | Amountinthisperiod | Amountinlastperiod |
I.Cashflowsfromoperatingactivities | ||
Cashreceivedfromsalesofgoodsorrendingofservices | 1,376,638,206.96 | 558,221,855.21 |
Taxreturned | 0.00 | 0.00 |
Othercashreceivedfrombusinessoperation | 451,033,420.59 | 256,279,744.56 |
Sub-totalofcashinflow | 1,827,671,627.55 | 814,501,599.77 |
Cashpaidforpurchasingofmerchandiseandservices | 129,341,285.43 | 40,959,738.85 |
Cashpaidtostaffsorpaidforstaffs | 140,700,012.09 | 88,199,907.15 |
Taxespaid | 51,584,160.49 | 15,211,949.40 |
Othercashpaidforbusinessactivities | 380,472,347.82 | 457,568,791.56 |
Sub-totalofcashoutflowfrombusinessactivities | 702,097,805.83 | 601,940,386.96 |
Cashflowgeneratedbybusinessoperation,net | 1,125,573,821.72 | 212,561,212.81 |
II.Cashflowgeneratedbyinvesting | ||
Cashreceivedfrominvestmentretrieving | 0.00 | 0.00 |
Cashreceivedasinvestmentgains | 1,045,610,436.49 | 1,533,378,326.14 |
Netcashretrievedfromdisposaloffixedassets,intangibleassets,andotherlong-termassets | 313,375.00 | 604,520.00 |
Netcashreceivedfromdisposalofsubsidiariesorotheroperationalunits | 0.00 | 0.00 |
Otherinvestment-relatedcashreceived | 148,330,950.62 | 167,012,137.44 |
Sub-totalofcashinflowduetoinvestmentactivities | 1,194,254,762.11 | 1,700,994,983.58 |
Cashpaidforconstructionoffixedassets,intangibleassetsandotherlong-termassets | 803,184,034.08 | 60,356,595.71 |
Cashpaidasinvestment | 0.00 | 804,499,959.30 |
Netcashreceivedfromsubsidiariesandotheroperationalunits | 0.00 | 0.00 |
Items | Amountinthisperiod | Amountinlastperiod |
Othercashpaidforinvestmentactivities | 5,000,000.00 | 20,000,000.00 |
Sub-totalofcashoutflowduetoinvestmentactivities | 808,184,034.08 | 884,856,555.01 |
Netcashflowgeneratedbyinvestment | 386,070,728.03 | 816,138,428.57 |
III.Cashflowgeneratedbyfinancing | ||
Cashreceivedasinvestment | 0.00 | 0.00 |
Cashreceivedasloans | 636,000,000.00 | 270,000,000.00 |
Cashreceivedfrombondplacing | 0.00 | 0.00 |
Otherfinancing–relatedashreceived | 291,000,000.00 | 732,162,605.79 |
Sub-totalofcashinflowfromfinancingactivities | 927,000,000.00 | 1,002,162,605.79 |
Cashtorepaydebts | 821,880,000.00 | 50,200,000.00 |
Cashpaidasdividend,profit,orinterests | 1,275,396,189.75 | 852,788,562.89 |
Othercashpaidforfinancingactivities | 374,200,000.00 | 794,300,000.00 |
Sub-totalofcashoutflowduetofinancingactivities | 2,471,476,189.75 | 1,697,288,562.89 |
Netcashflowgeneratedbyfinancing | -1,544,476,189.75 | -695,125,957.10 |
IV.Influenceofexchangeratealternationoncashandcashequivalents | -2,267,884.63 | 1,447,084.51 |
V.Netincreaseofcashandcashequivalents | -35,099,524.63 | 335,020,768.79 |
Add:balanceofcashandcashequivalentsatthebeginningofterm | 2,130,475,892.67 | 1,795,455,123.88 |
VI..Balanceofcashandcashequivalentsattheendofterm | 2,095,376,368.04 | 2,130,475,892.67 |
LegalRepresentative:ZhengRenfaGeneralManager:WangChunhuaPersoninchargeofaccounting:FangZhiAccountingDeptLeader:ZhouFang
7.ConsolidatedStatementonChangeinOwners’EquityAmountinthisperiod
InRMB
Items | Amountinthisperiod | ||||||||||||
Owner’sequityAttributabletotheParentCompany | Minorshareholders’equity | Totalofowners’equity | |||||||||||
ShareCapital | OtherEquityinstrument | Capitalreserves | Less:Sharesinstock | OtherComprehensiveIncome | Specializedreserve | Surplusreserves | Commonriskprovision | Retainedprofit | |||||
preferredstock | Sustainabledebt | Other | |||||||||||
I.Balanceattheendoflastyear | 2,090,806,126.00 | 0.00 | 0.00 | 0.00 | 2,510,069,749.76 | 0.00 | 327,263,824.17 | 0.00 | 544,821,130.03 | 0.00 | 3,550,110,288.49 | 431,039,563.00 | 9,454,110,681.45 |
Add:Changeofaccountingpolicy | 0.00 | ||||||||||||
Correctingofpreviouserrors | 0.00 | ||||||||||||
Mergerofentitiesundercommoncontrol | 0.00 | ||||||||||||
Other | 0.00 | ||||||||||||
II.Balanceatthebeginningofcurrentyear | 2,090,806,126.00 | 0.00 | 0.00 | 0.00 | 2,510,069,749.76 | 0.00 | 327,263,824.17 | 0.00 | 544,821,130.03 | 0.00 | 3,550,110,288.49 | 431,039,563.00 | 9,454,110,681.45 |
III.Changedinthecurrentyear | 0.00 | 0.00 | 0.00 | 0.00 | 26,705,215.55 | 0.00 | -82,154,709.36 | 0.00 | 230,581,431.32 | 0.00 | 388,498,848.10 | 28,560,160.87 | 592,190,946.48 |
(1)Totalcomprehensiveincome | -82,154,709.36 | 1,677,028,179.18 | 226,312,223.53 | 1,821,185,693.35 | |||||||||
(II)Investmentordecreasingofcapitalbyowners | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
1.OrdinarySharesinvestedbyshareholders | 0.00 | ||||||||||||
2.Holdersofotherequityinstrumentsinvestedcapital | 0.00 | ||||||||||||
3.Amountofsharespaidandaccountedasowners’equity | 0.00 | ||||||||||||
4.Other | 0.00 | ||||||||||||
(III)Profitallotment | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 230,581,431.32 | 0.00 | -1,288,529,331.08 | -197,752,062.66 | -1,255,699,962.42 |
Items | Amountinthisperiod | ||||||||||||
Owner’sequityAttributabletotheParentCompany | Minorshareholders’equity | Totalofowners’equity | |||||||||||
ShareCapital | OtherEquityinstrument | Capitalreserves | Less:Sharesinstock | OtherComprehensiveIncome | Specializedreserve | Surplusreserves | Commonriskprovision | Retainedprofit | |||||
preferredstock | Sustainabledebt | Other | |||||||||||
1.Providingofsurplusreserves | 230,581,431.32 | -230,581,431.32 | 0.00 | ||||||||||
2.Providingofcommonriskprovisions | 0.00 | ||||||||||||
3.Allotmenttotheowners(orshareholders) | -1,057,947,899.76 | -197,752,062.66 | -1,255,699,962.42 | ||||||||||
4.Other | 0.00 | ||||||||||||
(IV)Internaltransferringofowners’equity | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
1.Capitalizingofcapitalreserves(ortocapitalshares) | 0.00 | ||||||||||||
2.Capitalizingofsurplusreserves(ortocapitalshares) | 0.00 | ||||||||||||
3.Makinguplossesbysurplusreserves. | 0.00 | ||||||||||||
4.ChangeamountofdefinedbenefitplansthatcarryforwardRetainedearnings | |||||||||||||
5.Other | 0.00 | ||||||||||||
(V).Specialreserves | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
1.Providedthisyear | 0.00 | ||||||||||||
2.Usedthisterm | 0.00 | ||||||||||||
(VI)Other | 26,705,215.55 | 26,705,215.55 | |||||||||||
IV.Balanceattheendofthisterm | 2,090,806,126.00 | 0.00 | 0.00 | 0.00 | 2,536,774,965.31 | 0.00 | 245,109,114.81 | 0.00 | 775,402,561.35 | 0.00 | 3,938,609,136.59 | 459,599,723.87 | 10,046,301,627.93 |
Amountinlastyear
InRMB
Items | Amountinlastyear | ||||||||||||
Owner’sequityAttributabletotheParentCompany | Minorshareholders’equity | Totalofowners’equity | |||||||||||
ShareCapital | OtherEquityinstrument | Capitalreserves | Less:Sharesinstock | OtherComprehensiveIncome | Specializedreserve | Surplusreserves | Commonriskprovision | Retainedprofit | |||||
preferredstock | Sustainabledebt | Other | |||||||||||
I.Balanceattheendoflastyear | 2,090,806,126.00 | 0.00 | 0.00 | 0.00 | 2,508,408,342.99 | 0.00 | 402,285,954.24 | 0.00 | 366,956,549.89 | 0.00 | 2,920,563,328.27 | 554,495,287.40 | 8,843,515,588.79 |
Add:Changeofaccountingpolicy | 0.00 | ||||||||||||
Correctingofpreviouserrors | 0.00 | ||||||||||||
Mergerofentitiesundercommoncontrol | 0.00 | ||||||||||||
Other | 0.00 | ||||||||||||
II.Balanceatthebeginningofcurrentyear | 2,090,806,126.00 | 0.00 | 0.00 | 0.00 | 2,508,408,342.99 | 0.00 | 402,285,954.24 | 0.00 | 366,956,549.89 | 0.00 | 2,920,563,328.27 | 554,495,287.40 | 8,843,515,588.79 |
III.Changedinthecurrentyear | 0.00 | 0.00 | 0.00 | 0.00 | 1,661,406.77 | 0.00 | -75,022,130.07 | 0.00 | 177,864,580.14 | 0.00 | 629,546,960.22 | -123,455,724.40 | 610,595,092.66 |
(1)Totalcomprehensiveincome | -75,022,130.07 | 1,509,922,398.70 | 200,301,288.72 | 1,635,201,557.35 | |||||||||
(II)Investmentordecreasingofcapitalbyowners | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
1.OrdinarySharesinvestedbyshareholders | 0.00 | ||||||||||||
2.Holdersofotherequityinstrumentsinvestedcapital | 0.00 | ||||||||||||
3.Amountofsharespaidandaccountedasowners’equity | 0.00 | ||||||||||||
4.Other | 0.00 |
Items | Amountinlastyear | ||||||||||||
Owner’sequityAttributabletotheParentCompany | Minorshareholders’equity | Totalofowners’equity | |||||||||||
ShareCapital | OtherEquityinstrument | Capitalreserves | Less:Sharesinstock | OtherComprehensiveIncome | Specializedreserve | Surplusreserves | Commonriskprovision | Retainedprofit | |||||
preferredstock | Sustainabledebt | Other | |||||||||||
(III)Profitallotment | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 177,864,580.14 | 0.00 | -880,375,438.48 | -323,757,013.12 | -1,026,267,871.46 |
1.Providingofsurplusreserves | 177,864,580.14 | -177,864,580.14 | 0.00 | ||||||||||
2.Providingofcommonriskprovisions | 0.00 | ||||||||||||
3.Allotmenttotheowners(orshareholders) | -702,510,858.34 | -323,757,013.12 | -1,026,267,871.46 | ||||||||||
4.Other | 0.00 | ||||||||||||
(IV)Internaltransferringofowners’equity | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
1.Capitalizingofcapitalreserves(ortocapitalshares) | 0.00 | ||||||||||||
2.Capitalizingofsurplusreserves(ortocapitalshares) | 0.00 | ||||||||||||
3.Makinguplossesbysurplusreserves. | 0.00 | ||||||||||||
4.ChangeamountofdefinedbenefitplansthatcarryforwardRetainedearnings | |||||||||||||
5.Other | 0.00 | ||||||||||||
(V).Specialreserves | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
1.Providedthisyear | 0.00 | ||||||||||||
2.Usedthisterm | 0.00 | ||||||||||||
(VI)Other | 1,661,406.77 | 1,661,406.77 |
Items | Amountinlastyear | ||||||||||||
Owner’sequityAttributabletotheParentCompany | Minorshareholders’equity | Totalofowners’equity | |||||||||||
ShareCapital | OtherEquityinstrument | Capitalreserves | Less:Sharesinstock | OtherComprehensiveIncome | Specializedreserve | Surplusreserves | Commonriskprovision | Retainedprofit | |||||
preferredstock | Sustainabledebt | Other | |||||||||||
IV.Balanceattheendofthisterm | 2,090,806,126.00 | 0.00 | 0.00 | 0.00 | 2,510,069,749.76 | 0.00 | 327,263,824.17 | 0.00 | 544,821,130.03 | 0.00 | 3,550,110,288.49 | 431,039,563.00 | 9,454,110,681.45 |
LegalRepresentative:ZhengRenfaGeneralManager:WangChunhuaPersoninchargeofaccounting:FangZhiAccountingDeptLeader:ZhouFang
8.Statementofchangeinowner’sEquityoftheParentCompanyAmountinthisperiod
InRMB
Items | Amountinthisperiod | ||||||||||
ShareCapital | OtherEquityinstrument | Capitalreserves | Less:Sharesinstock | OtherComprehensiveIncome | Specializedreserve | Surplusreserves | Retainedprofit | Totalofowners’equity | |||
preferredstock | Sustainabledebt | Other | |||||||||
I.Balanceattheendoflastyear | 2,090,806,126.00 | 0.00 | 0.00 | 0.00 | 2,921,957,981.38 | 0.00 | 327,263,824.17 | 0.00 | 528,976,846.38 | 2,662,880,058.78 | 8,531,884,836.71 |
Add:Changeofaccountingpolicy | 0.00 | ||||||||||
Correctingofpreviouserrors | 0.00 | ||||||||||
Other | 0.00 | ||||||||||
II.Balanceatthebeginningofcurrentyear | 2,090,806,126.00 | 0.00 | 0.00 | 0.00 | 2,921,957,981.38 | 0.00 | 327,263,824.17 | 0.00 | 528,976,846.38 | 2,662,880,058.78 | 8,531,884,836.71 |
III.Changedinthecurrentyear | 0.00 | 0.00 | 0.00 | 0.00 | 26,705,215.55 | 0.00 | -82,154,709.36 | 0.00 | 230,581,431.32 | 1,017,284,982.08 | 1,192,416,919.59 |
(I)Totalcomprehensiveincome | -82,154,709.36 | 2,305,814,313.16 | 2,223,659,603.80 | ||||||||
(II)Investmentordecreasingofcapitalbyowners | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
1OrdinarySharesinvestedbyshareholders | 0.00 | ||||||||||
2Holdersofotherequityinstrumentsinvestedcapital | 0.00 | ||||||||||
3.Amountofsharespaidandaccountedasowners’equity | 0.00 | ||||||||||
4.Other | 0.00 | ||||||||||
(III)Profitallotment | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 230,581,431.32 | -1,288,529,331.08 | -1,057,947,899.76 |
1.Providingofsurplusreserves | 230,581,431.32 | -230,581,431.32 | 0.00 | ||||||||
2.Allotmenttotheowners(orshareholders) | -1,057,947,899.76 | -1,057,947,899.76 | |||||||||
3.Other | 0.00 | ||||||||||
(IV)Internaltransferringofowners’equity | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
1.Capitalizingofcapitalreserves(ortocapitalshares) | 0.00 | ||||||||||
2.Capitalizingofsurplusreserves(ortocapitalshares) | 0.00 | ||||||||||
3.Makinguplossesbysurplusreserves. | 0.00 | ||||||||||
4.ChangeamountofdefinedbenefitplansthatcarryforwardRetainedearnings | |||||||||||
5.Other | 0.00 | ||||||||||
(V)Specialreserves | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
1.Providedthisyear | 0.00 | ||||||||||
2.Usedthisterm | 0.00 | ||||||||||
(VI)Other | 26,705,215.55 | 26,705,215.55 | |||||||||
IV.Balanceattheendofthisterm | 2,090,806,126.00 | 0.00 | 0.00 | 0.00 | 2,948,663,196.93 | 0.00 | 245,109,114.81 | 0.00 | 759,558,277.70 | 3,680,165,040.86 | 9,724,301,756.30 |
Amountinlastyear
InRMB
Items | Amountinlastyear | ||||||||
ShareCapital | OtherEquityinstrument | Capitalreserves | Less:Shares | OtherComprehensive | Specialized | Surplusreserves | Retainedprofit | Totalofowners’equity |
preferredstock | Sustainabledebt | Other | |||||||||
I.Balanceattheendoflastyear | 2,090,806,126.00 | 0.00 | 0.00 | 0.00 | 3,359,791,693.12 | 0.00 | 402,285,954.24 | 0.00 | 351,112,266.24 | 1,764,609,695.85 | 7,968,605,735.45 |
Add:Changeofaccountingpolicy | 0.00 | ||||||||||
Correctingofpreviouserrors | 0.00 | ||||||||||
Other | 0.00 | ||||||||||
II.Balanceatthebeginningofcurrentyear | 2,090,806,126.00 | 0.00 | 0.00 | 0.00 | 3,359,791,693.12 | 0.00 | 402,285,954.24 | 0.00 | 351,112,266.24 | 1,764,609,695.85 | 7,968,605,735.45 |
III.Changedinthecurrentyear | 0.00 | 0.00 | 0.00 | 0.00 | -437,833,711.74 | 0.00 | -75,022,130.07 | 0.00 | 177,864,580.14 | 898,270,362.93 | 563,279,101.26 |
(I)Totalcomprehensiveincome | -75,022,130.07 | 1,778,645,801.41 | 1,703,623,671.34 | ||||||||
(II)Investmentordecreasingofcapitalbyowners | 0.00 | 0.00 | 0.00 | 0.00 | -437,833,711.74 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | -437,833,711.74 |
1.OrdinarySharesinvestedbyshareholders | 0.00 | ||||||||||
2Holdersofotherequityinstrumentsinvestedcapital | 0.00 | ||||||||||
3.Amountofsharespaidandaccountedasowners’equity | 0.00 | ||||||||||
4.Other | -437,833,711.74 | -437,833,711.74 | |||||||||
(III)Profitallotment | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 177,864,580.14 | -880,375,438.48 | -702,510,858.34 |
1.Providingofsurplusreserves | 177,864,580.14 | -177,864,580.14 | 0.00 | ||||||||
2.Allotmenttotheowners(orshareholders) | -702,510,858.34 | -702,510,858.34 | |||||||||
3.Other | 0.00 | ||||||||||
(IV)Internaltransferringofowners’equity | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
1.Capitalizingofcapitalreserves(ortocapitalshares) | 0.00 | ||||||||||
2.Capitalizingofsurplusreserves(ortocapitalshares) | 0.00 | ||||||||||
3.Makinguplossesbysurplusreserves. | 0.00 |
Items | Amountinlastyear | ||||||||||
ShareCapital | OtherEquityinstrument | Capitalreserves | Less:Sharesinstock | OtherComprehensiveIncome | Specializedreserve | Surplusreserves | Retainedprofit | Totalofowners’equity | |||
preferredstock | Sustainabledebt | Other | |||||||||
4.ChangeamountofdefinedbenefitplansthatcarryforwardRetainedearnings | |||||||||||
5.Other | 0.00 | ||||||||||
(V)Specialreserves | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
1.Providedthisyear | 0.00 | ||||||||||
2.Usedthisterm | 0.00 | ||||||||||
(VI)Other | 0.00 | ||||||||||
IV.Balanceattheendofthisterm | 2,090,806,126.00 | 0.00 | 0.00 | 0.00 | 2,921,957,981.38 | 0.00 | 327,263,824.17 | 0.00 | 528,976,846.38 | 2,662,880,058.78 | 8,531,884,836.71 |
LegalRepresentative:ZhengRenfaGeneralManager:WangChunhuaPersoninchargeofaccounting:FangZhiAccountingDeptLeader:ZhouFang
III.CompanyProfile
(1)History
1.TheCompanywasestablishedinFebruary1993,whichwasoriginallynamedasGuangdongFokaiExpresswayCo.,Ltd.OnJune30,1993,itwasrenamedasGuangdongProvincialExpresswayDevelopmentCo.,Ltd.afterreorganizationpursuanttotheapprovaloftheOfficeofJointExaminationGroupofExperimentalUnitsofShareHoldingSystemwithYLSB(1993)No.68document.Thesharecapitalstructureafterreorganizationisasfollows:
Compositionofstate-ownedshares:Theappraisednetvalueofstate-ownedassetsofGuangdongJiujiangBridgeCo.andGuangfoExpresswayCo.,Ltd.asofJanuary31,1993confirmedbyGuangdongState-ownedAssetManagementDept.,i.e.,418.2136millionyuan,wasconvertedinto155.025millionshares.GuangdongExpresswayCo.investedcashof115millionyuantosubscribefor35.9375millionshares.Otherlegalpersonsinvestedcashof286.992millionyuantosubscribefor89.685millionshares.StaffoftheCompanyinvested87.008millionyuantosubscribefor27.19millionshares.Thetotalis307.8375millionshares.2.PursuanttotheapprovalofGuangdongEconomicSystemReformCommitteeandGuangdongSecuritiesRegulatoryCommissionwithYTG(1996)No.67document,partoftheshareholdersofnon-state-ownedlegalpersonsharestransferred20millionnon-state-ownedlegalpersonsharestoMalaysiaYibaoEngineeringCo.,Ltd.inJune1996.3.PursuanttotheapprovalofSecuritiesCommissionundertheStateCouncilwithWF(1996)No.24approvaldocumentandthatofGuangdongEconomicSystemReformCommitteewithYTG(1996)No.68document,theCompanyissued135milliondomesticallylistedforeigninvestmentshares(Bshares)tooverseasinvestorsatthepriceofHKD3.54(equivalentto3.8yuan)withtheparvalueofeachsharebeing1yuanduringJunetoJuly1996.4.PursuanttothereplyoftheMinistryofForeignTradeandEconomicCooperationofthePeople’sRepublicofChinawith(1996)WJMZYHZNo.606document,theCompanywasapprovedtobeaforeign-investedjointstockcompanylimited.5.TheCompanydistributeddividendsandcapitalizedcapitalcommonreservefortheyear1996inthefollowingmanner:TheCompanypaid1.7bonussharesforeach10sharesandcapitalizedcapitalcommonreserveon3.3-for-10basis.6.PursuanttotheapprovalofChinaSecuritiesRegulatoryCommittee(CSRC)withZJFZ(1997)No.486andNo.487document,theCompanyissued100millionpublicshares(Ashares)atthepriceof5.41yuanintermof“payableinfullonapplication,pro-rateplacingandsubjecttorefund”withtheparvalueofeachsharebeing1yuaninJanuary1998.7.InaccordancewiththeResolutionsofthe1999Shareholders’GeneralMeetingoftheCompanyandpursuanttotheapprovalofGuangzhouSecuritiesRegulatoryOfficeunderCSRCwithGZZJH(2000)No.99andthatofCSRCwithZJGSZ(2000)No.98,theCompanyoffered3Rightsforevery10sharesof764.256249millionsharesatthepriceof11yuanperRight.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-rightdatewasMay
22,2001.11.OnMarch8,2004,AsapprovedbyChinaSecuritiesRegulatoryCommissionbydocumentZheng-Jian-Gong-Si-Zi[2003]No.3,the45,000,000non-negotiableforeignshareswereplacedinShenzhenStock12.OnDecember21,2005,theCompany'splanforshareholdingstructurereformwasvotedthroughattheshareholders'meetingconcerningAshares.OnJanuary262006,TheMinistryofCommerceofPRCissued“TheapprovalonshareconvertingofGuangdongProvincialExpresswayDevelopmentCo.,Ltd.”toapprovetheshareequityrelocationandtransformation.OnOctober92006,accordingtothe“Circularaboutimplementingofshareequityrelocationandrelativetrading”issuedbyShenzhenStockExchange,theabbreviationIDoftheCompany’sAshareswasrestoredfrom“G-Expressway”“ExpresswayA”.13.UpontheapprovaldocumentofCSRCNo.230-2016ZhengJianXuke-ApprovaloftheShare-IssuingtoPartiessuchasGuangdongProvincialExpresswayCo.,LtdtoPurchaseAssetsandRaiseMatchingFundsbyGuangdongProvincialExpresswayDevelopmentCo.,Ltd,inJune2016thecompanyissued33,355,263sharesandpaid803.50millionyuantoGuangdongProvincialExpresswayCo.,Ltdforpurchasingthe25%stakeofGuangdongProvincialFokaiExpresswayCo.,LtdheldbyGuangdongProvincialExpresswayCo.,Ltd;andissued466,325,020sharestoGuangdongProvincialHighwayConstructionCo.,Ltdforpurchasingthe100%stakeofGuangzhouGuangzhuTrafficInvestmentManagementCo.,LtdheldbyGuangdongProvincialHighwayConstructionCo.,Ltd.OnJune21,2016,thecompanydirectionallyissued334,008,095A-sharestoYadongFuxingYalianInvestmentCo.,Ltd,TibetYinyueInvestmentManagementCo.,LtdandGFSecuritiesCo.,Ltd.TheissuanceofshareshavebeenregisteredonJuly7,2016,thenewshareswillbelistedonJuly8,2016.(2)OrganizationstructureandtheactualcontrolleroftheCompanyAsofDecember31,2018,Registrationcapital:2,090,806,126yuan,Legalrepresentative:ZhengRenfa,Registrationplace:No.85,BaiyunRoad,Guangzhou,HeadquartersOffice:45-46/F,LitongPlaza,No.32,ZhujiangEastRoad,ZhujiangNewCity,TiheDisrtict,Guangzhou,Thecompanyhassetup:InvestmentDevelopmentDept,SecurityAffairsDepartment,ManagementDepartment,FinancialManagementDepartment,BaseconstructionDepartment,AuditandSuperviseDepartment,AffairsDepartment,PersonnelDepartment,PartyWorkDepartment,LawaffairsDepartment,ProjectOfficeandLabourunionetc.GuangdongCommunicationGroupCo.,Ltd.isthelargestshareholderoftheCompany.legalrepresentative:DengXiaohua.Dateofestablishment:June23,2000.AsofDecember31,2018,Registeredcapital:26.8billionyuan.Itisasolelystate-ownedlimitedcompany.Businessscope:equitymanagement,organizationofassetreorganizationandoptimizedallocation,raisingfundsbymeansincludingmortgage,transferofpropertyrightsandjointstocksystemtransformation,projectinvestment,operationandmanagement,trafficinfrastructureconstruction,highwayandrailwayprojectoperationandrelevantindustries,technologicaldevelopment,application,consultationandservices,highwayandrailwaypassengerandcargotransport,shipindustry,relevantoverseasbusinesses;Thevalue-addedcommunicationbusiness.(3)Thecompany’smainbusinessandshare,HoldingcompanyThecompanyoperatedtheconstructionofthehighwayconstruction,gradingroads,bridges;Managementfeesandmaintenanceofroads,bridges,andcarrescue,maintenance,cleaning,concurrentlywiththecompany'sbusinesssupportingmotortransport,warehousingoperations.TheCompanyismainlyengagedintollingandmaintenanceofGuangfoExpressway,FokaiExpressway,investmentintechnologicalindustriesandprovisionofrelevantconsultationwhileinvestinginShenzhenHuiyanExpresswayCo.,Ltd.,GuangzhouGuanghuiExpresswayCo.,Ltd.,JingzhuExpresswayGuangzhuCo.,Ltd.,GuangdongJiangzhongExpresswayCo.,Ltd.,ZhaoqingYuezhaoExpresswayCo.,Ltd.,GanzhouKangdaExpressway,GanzhouGankangExpresswayCo.,Ltd.,GuangdongYuekeTechnologyMicroLoanCo.,Ltd.,GuangdongGuangle
ExpresswayCo.,Ltd.andGuoyuanSecuritiesCo.,Ltd.(4)ScopeofconsolidatedfinancialstatementsThecompany's2018annualconsolidatedsubsidiariesoftotal5companies,onenewbusinesscombinationwasLogouttothescopeofconsolidatefinancialstatementinreasonofbeingunderthesamecontrol.RefertofinancialstatementsXI(8),Changeofconsolidationscopeand,financialstatementsXI(9),Equityinotherentitiesformoredetails.(5)ApprovalofthefinancialstatementsreportedThefinancialstatementshavebeenauthorizedforissuancebytheBoardofDirectorsoftheGrouponMarch29,2019.IV.Basisforthepreparationoffinancialstatements1.PreparationbasisThecompanypreparesthefinancialstatementsonthebasisofacontinuousoperation,theactualtransactions,“AccountingStandardsforEnterprises–BasicStandards”,otheraccountingstandards&relatedregulations.Furthermore,allthematerialsoffinancialstatementsofthecompanymeettherelevantdisclosurerequirementsoffinancialstatementsandnotesonthe“EditingandReportingRulesRegardingInformationDisclosureforCompaniesPubliclyIssuingSecuritiesNo.15–GeneralRegulationsforFinancialReporting(revisedin2014)byChinaSecuritiesRegulatoryCommission.2.Continuation
Therewillbenosucheventsorsituationsinthe12monthsfromtheendofthereportingperiodthatwillcausematerialdoubtsastothecontinuationcapabilityoftheCompany.V.SignificantAccountingPoliciesandAccountingEstimates
WhethertheCompanyneedstocomplywiththedisclosurerequirementsforspecificindustries
NoSpecificaccountingpoliciesandaccountingestimatesareindicatedasfollows:
Nil1.StatementofCompliancewiththeAccountingStandardsforBusinessEnterprisesThefinancialstatementspreparedbytheCompanycomplywiththerequirementsofcorporateaccountingstandards.Theytrulyandcompletelyreflectthefinancialsituations,operatingresults,equitychangesandcashflow,andotherrelevantinformationofthecompany.2.FiscalYearTheCompanyadoptstheGregoriancalendaryearcommencingonJanuary1andendingonDecember31asthefiscalyear.3.OperatingcycleAnoperatingcyclefortheCompanyis12months,whichisalsotheclassificationcriteriafortheliquidityofitsassetsandliabilities.
4.StandardcurrencyforbookkeepingTheCompanytakesRMBasthestandardcurrencyforbookkeeping.5.AccountingsforBusinessCombinationsundertheSameControl&BusinessCombinationsnotundertheSameControl1.BusinessCombinationsundertheSameControlTheassetsandliabilitiesacquiredbythecompanyinthebusinesscombinationshallbemeasuredaspertheobtainedbookvalueofowner’sequityofthecombinedpartyintheconsolidatedfinancialstatements.Asforthebalancebetweenthecarryingamountofthenetassetsobtainedbythecombiningparty&thecarryingamountoftheconsiderationpaidbyit(orthetotalparvalueofthesharesissued),theadditionalpaid-incapitalshallbeadjusted.Iftheadditionalpaid-incapitalisnotsufficienttobeoffset,theretainedearningsshallbeadjusted.Thedirectcostsforthebusinesscombinationofthecompany,includingtheexpensesforaudit,assessmentandlegalservices,shallberecordedintotheprofits&lossesatthecurrentperiod.Thehandlingfees,commissions&otherexpensesfortheissuanceofequitysecuritiesforthebusinesscombinationshallbecreditedagainstthesurplusofequitysecurities;ifthesurplusisnotsufficient,theretainedearningsshallbeoffset.Wheretheaccountingpoliciesadoptedbythecombinedpartiesaredifferentfromthoseadoptedbythecompany,thecompanyshalladjustthemonthecombiningdateaccordingtotheaccountingpolicyitadopts,andshall,pursuanttotheAccountingStandardsforEnterprises,recognizethemonthebasisofsuchadjustments.2.BusinessCombinationsnotundertheSameControlTheassetspaidastheconsiderationforthebusinesscombination&theliabilitiesassumedontheacquisitiondateshallbemeasuredinaccordancewiththefairvalue.Thedifferencebetweenthefairvalue&itscarryingamountshallberecordedintotheprofits&lossesatthecurrentperiod.Thecompanywilldistributethecombinationcostsontheacquisitiondate.Thecompanyshallrecognizethepositivebalancebetweenthecombinationcosts&thefairvalueoftheidentifiablenetassetsitobtainsfromtheacquireasGoodwillwhileitshallrecordthenegativebalancebetweenthecombinationcosts&thefairvalueoftheidentifiablenetassetsitobtainsfromtheacquireintotheprofits&lossesofthecurrentperiod.Asfortheassetsotherthanintangibleassetsacquiredfromtheacquireinabusinesscombination(notlimitedtotheassetswhichhavebeenrecognizedbytheacquire),iftheeconomicbenefitsbroughtbythemarelikelytoflowintotheenterpriseandtheirfairvaluescanbemeasuredreliably,theyshallbeseparatelyrecognizedandmeasuredinlightoftheirfairvalues.Asforanyintangibleassetacquiredinacombination,ifitsfairvaluecanbemeasuredreliably,itshallbeseparatelyrecognizedasanintangibleassetandshallmeasuredinlightofitsfairvalue.Asfortheliabilitiesotherthancontingentliabilitiesacquiredfromtheacquire,iftheperformancesoftherelevantobligationsarelikelytoresultinanyout-flowofeconomicbenefitsfromtheenterprise,andtheirfairvaluescanbemeasuredreliably,theyshallbeseparatelyrecognizedandmeasuredinlightoftheirfairvalues.Asforthecontingentliabilitiesoftheacquireobtainedinacombination,iftheirfairvaluescanbemeasuredreliably,theyshallbeseparatelyrecognizedasliabilitiesandshallbemeasuredinlightoftheirfairvalues.
6.MethodsforPreparingtheConsolidatedFinancialStatementsThescopeoftheconsolidatedfinancialstatementswillberecognizedonthebasisofcontrolling.Allthesubsidiarieswillbeincludedintotheconsolidatedfinancialstatements.Theaccountingpolicies&accountingperiodsadoptedbyallthesubsidiariesthathavebeenincludedintothescopeoftheconsolidatedfinancialstatementsshouldbeconsistentwiththoseadoptedbythecompany.Iftheaccountingpolicies&accountingperiodsadoptedbythesubsidiariesaredifferentfromthoseadoptedbythecompany,thecompanyshallmakenecessaryadjustmentsaccordingtotheaccountingpolicies&accountingperiodsitadoptswhenpreparingtheconsolidatedfinancialstatements.Afteradjustingthelong-termequityinvestmentsonitssubsidiariesaccordingtotheequitymethod,thecompanyshallpreparetheconsolidatedfinancialstatementsbasedonthefinancialstatementsofthecompany&itssubsidiaries,andotherrelateddocuments.Theinfluencesoftheinternaltransactionsbetweenthecompany&itssubsidiaries,anditssubsidiariesthemselvesontheconsolidatedbalancesheet,consolidatedprofitstatement,consolidatedcashflowstatement&consolidatedstatementofchangesinowner’sequitywillbecounteractedatthepreparationoftheconsolidatedfinancialstatements.Theportionofasubsidiary’sequitythatisnotattributabletotheparentistreatedasminorityshareholders’interestandpresentedas“minorityinterest”intheconsolidatedbalancesheetwithinowners’equity.Theportionofnetprofitsorlossesofsubsidiariesfortheperiodattributabletominorityinterestispresentedintheconsolidatedincomestatementbelowthe“netprofit”lineitemas“minorityinterest”.Intheconsolidatedfinancialstatements,whentheamountoflossfortheperiodattributabletotheminorityshareholdersofasubsidiaryexceedstheminorityshareholders’portionoftheopeningbalanceofowners’equityofthesubsidiary,theexcessamountshouldbestillallocatedagainstminorityinterest.Inthereportperiod,Ifthesubsidiaryisaddedthroughthebusinesscombinationunderthesamecontrol,thebeginningbalanceoftheconsolidatedbalancesheetshallbeadjusted.Theincomes,expenses&profitsofthesubsidiaryincurredfromthebeginningofthecurrentperiodtotheendofthereportingperiodshallbeincludedintotheconsolidatedprofitstatement.Thecashflowfromthebeginningofthecurrentperiodtotheendofthereportingperiodshallbeincludedintotheconsolidatedcashflowstatement.Forpurchaseofminorityinterestsheldbytheminorityshareholdersofasubsidiary,whenpreparingtheconsolidatedfinancialstatements,thedifferencebetweenthelong-termequityinvestmentnewlygainedbybuyingminorityinterestsandtheportionofnetassetsconsistentlycalculatedfromtheacquisitiondate(ortheconsolidationdate)pursuanttonewlyaddedshareholdingpercentageentitledbythesubsidiaryshouldbeadjustedtotheowners’equity(thecapitalreserve).Ifthecapitalreserveisnotsufficienttoabsorbthedifference,anyexcessisadjustedagainstretainedearnings.Inthereportperiod,Ifthecompanydisposesitssubsidiary,theincomes,expenses&profitsincurredfromthebeginningofthesubsidiarytothedisposaldateshallbeincludedintotheconsolidatedprofitstatement.Thecashflowfromthebeginningofthesubsidiarytothedisposaldateshallbeincludedintotheconsolidatedcashflowstatement.
7.JointventurearrangementsclassificationandCo-operationaccountingtreatment⑴Ajointarrangementreferstoanarrangementjointlycontrolledbytwoparticipantsorabove.,thejointventurearrangementsincludeco-operationandjointventures.(2)Whenthejointventurecompanyforjointoperations,confirmthefollowingitemsandsharecommonbusinessinterestsrelatedto:
(1)Confirmindividualassetsandcommonassetsheldbasedonshareholdings;(2)Confirmindividualliabilitiesandsharedliabilitiesheldbasedonshareholdings;(3)Confirmtheincomefromthesalesrevenueofco-operatebusinessoutput(4)Confirmtheincomefromthesalesoftheco-operatebusinessoutputbasedonshareholdings;(5)Confirmtheindividualexpenditureandco-operatebusinesscostbasedonshareholdings.⑶Whenacompanyisajointventures,jointventureinvestmentwillberecognizedaslong-termequityinvestmentsandlong-termequityinvestmentsareaccountedforinaccordancewiththemethodoftheNotestoFinancialStatements.8.RecognitionStandardofCash&CashEquivalentsThecompanyrecognizesitscashinvault&thedepositsthatarereadyforpaymentatanytimeascashwhenpreparingthecashflowstatement.whicharefeaturedwithshortterm(expirewithin3monthssincepurchased),highliquidity,easytoconverttoknowcash,lowinriskofvaluechange,couldberecognizedascashequivalents.Equityinvestmentarenotrecognizedascashequivalents.9.ForeignCurrencyTransaction(1)ForeignCurrencyTransactionForthecompanywithnon-functionalcurrencybusiness,themiddlerateofthemarketexchangeratepublishedbyPeople’sBankofChinaonthedateofoccurrenceofbusinessarerecordedasthefunctionalcurrency,andthebalancesofforeigncurrencyshallbeadjustedbytheendofthemonthaccordingtothemiddlerateofthemarketexchangeratepublishedbyPeople’sBankofChinaattheendofperiod.Thedifferencesbetweentherecordingcurrencyamountconvertedbytheexchangerateattheendofperiodandthecarryingcurrencyamountareas“FinanceCosts–ExchangeGainsandLosses”andrecordedintothecurrentprofitsorlosses.Theexchangegainsandlossesrelatedtoborrowingsonthefixedassetsshallbemadetreatmentaccordingtotheprinciplesofborrowingcostscapitalization.(2)ConversionofForeignFinancialstatementIfoverseassubsidiaries,cooperativeenterprises,jointventures,branchesofthecompanyadoptthedifferentfunctionalrecordingcurrencyandrecordtheoverseasbusinessofthecompanyintothefinancialstatementsthroughtheconsolidatedstatementsandtheaccountingbytheequitymethod,theoverseasfinancialstatementsshallbetranslatedastherecordingfunctionalcurrency.Beforethetranslation,thecompanyshalladjusttheaccountingperiodandpolicyofoverseasbusinessinordertomaketheconsistentadjustment,andtranslatetheoverseasfinancialstatementsaccordingtothefinancialstatementsofthepreparationofcorrespondingcurrencyaftertheaccountingpolicyandperiodadjustedandasperthefollowingmethods:
1Fortheassetsandliabilitiesinthebalancesheet,theshotexchangerateonthebalancesheetdateisadopted
asthetranslationexchangerate.Fortheowner’sequity,theshotexchangerateonthetransactiondateisadoptedasthetranslationexchangerate,withtheexceptionof“undistributedprofits”.
2Theincomesandexpensesintheincomestatementshallbetranslatedatthespotexchangerateorthe
approximateexchangerateonthetransactiondate.
3Thetranslationgapoffinancialstatementofforeigncurrencyshallbelistedundertheowner’sequityinthe
consolidatedbalancesheetinthepreparationoftheconsolidatedfinancialstatements.10.Financialtools1.CategoriesoffinancialToolsTheCompanydividesthefinancialassetsintofourcategories:financialassetsmeasuredatfairvalueandtheirvariationsarerecognizedascurrentgain/loss,includingtradefinancialassetsorfinancialliabilitiesandrecognizeddirectlyasfinancialassetsmeasuredatfairvalueandtheirvariationsarerecognizedascurrentgain/loss;Investmentholdtillexpiration;loansandaccountreceivable;saleablefinancialassets.Thecompanydividesthefinancialliabilitiesintotwocategories:financialliabilitiesmeasuredatfairvalueandtheirvariationsarerecognizedascurrentgain/loss;otherfinancialliabilities.2.Recognitionandmeasurementoffinancialtools(1)Financialassetsandliabilitiesmeasuredatfairvalueandtheirvariationsarerecognizedascurrentgain/lossThefairvalue(afterdeductingofannouncedbutnotdistributedcashdividendorduebutnotobtainedbondinterests)isrecognizedasinitialamountwhenobtained.Interestsorcashdividendsduringtheperiodofholdingarerecognizedasinvestmentgains.Thefairvaluewillbeadjustedandaccountedascurrentgain/loss.Whendisposed,thedifferencesbetweenfairvalueandinitialamountarerecognizedasinvestmentgains,andthusadjustthegain/lossoffairvalue.(2)InvestmentholdtillexpirationThefairvalue(afterdeductingofduebutnotobtainedbondinterests)plustherelatedtradeexpensesisrecognizedasinitialamountwhenobtained.Interestgainswillbecalculatedatamortizingofcostsandactualinterestrate(thefacerateisadoptedwhenthedifferencebetweentheactualrateandfacerateisminor)duringtheperiodofholding,andaccountedasinvestmentgains.Actualrateisrecognizedwhenobtained,andisnotchangedinthepredictableholdingperiodorapplicableshorterperiod.Whendisposed,thedifferencebetweentheobtainedpriceandbookvalueisaccountedasinvestmentgains.Ifthecompanysellsorreclassifieslarge-amountdueinvestmentsbeforetheexpireddate(largeamountreferstocomparingwiththeamountbeforethesellingorreclassifyingtheinvestments),thecompanywillreclassifytherestoftheinvestmentsasfinancialassetsforsale,andinthecurrentaccountingperiodorwithintwocompleteaccountingyears,nofinancialassetswillbeclassifiedasholdingdueassets,exceptforthefollowingsituations:
thesaledateorreclassificationdateisclosetotheexpireddateoftheinvestment(suchasthreemonthsbeforetheexpired),andthechangeofinterestratehasnosignificantinfluenceonthefairvalueoftheinvestment;afteralltheinitialprincipalismostlyrecoveredaccordingtoperiodicpaymentsorrepayinadvanceregulatedinthecontract,therestpartwillbesoldorreclassified;thesaleandreclassificationiscausedbytheindependenteventswhichareuncontrollableandunexpectedandwillnothappenanymore.
(3)Accountreceivable
Thereceivabledebtsofsellinggoodsorprovidingservices,andthecreditsofothercompanyholdbythe
companynotincludingthedebtwhichhaspriceinactivemarket,includingaccountsreceivable,notesreceivable,prepaidaccounts,otherreceivables,long-termreceivables,etc.Thecontractoragreementpricechargingfrompurchasershouldbetakenastheinitialconfirmationamount;ifithasthenatureoffinancing,itshouldbeconfirmedaccordingitscurrentvalue.Whenretrievedordisposedof,thedifferencebetweentheactualreceivedamountandthebookvalueisaccountedascurrentgain/loss.
(4)Saleablefinancialassets
Thefairvalue(afterdeductingofannouncedbutnotdistributedcashdividendorduebutnotobtainedbondinterests)plustherelatedtradeexpensesisrecognizedasinitialamountwhenobtained.Interestorcashdividendoccurredduringtheperiodofholdingisrecognizedasinvestmentgains.Changeoffairvalueisaccountedascapitalreserves(othercapitalreserves)attheendofterm.Whendisposed,thedifferencebetweentheobtainedpriceandbookvalueisaccountedasinvestmentgains.Meanwhile,thecorrespondingpartofaccumulatedchangeoffairvalueaccountedasowners’equityistransferredintoinvestmentgain/loss.(5)OtherfinancialliabilitiesOtherfinancialliabilitiesarerecognizedinitiallyatthesumoffairvalueandrelatedtradeexpenses.Successivemeasurementwillbeonthebasisofamortizedcosts.3.RecognitionandmeasurementbasisoffinancialassettranspositionWhenfinancialassettranspositionoccurred,therecognitionofthisparticularfinancialassetisterminatedifalmostallrisksandrewardsattachedtotheassethavebeentransferredtotheacceptor.Ifretainalltherisksandrewardsofownershipoffinancialassets,thefinancialassetscanbeconfirmed.Whendeterminewhetherthetransferoffinancialassetsmeettheconditionsofconfirmationoftheabovefinancialassets,theprincipleofsubstancebeingmoreimportantthanformshouldbeadopted.Thetransferoffinancialassetscanbedividedintooveralltransferandparttransferoffinancialassets.Ifthetransferoffinancialassetsmeettheconditionsofterminatingconfirmation,thefollowingthedifferenceofthetwoamountswillbeincludedinthecurrentprofitandloss:
(1)Bookvalueofthefinancialassettobetransposed;(2)Thesumofpricereceivedduetothetransposition,andtheaccumulationofchangeinfairvalueoriginallyaccountedasowners’equity(whentheassettobetransposedissaleablefinancialasset).Ifparttransferoffinancialassetsmeettheconditionsofterminatingconfirmation,thebookvalueofthetransferredfinancialassts,thedifferencebetweentheconfirmedpartandtheunconfirmedpart(inthiscase,theserviceassetsretainedshouldbedeemedasthepartofunconfirmedfinancialassets),shouldbeamortizedinaccordancewiththeirrelativefairvalue,andthedifferencebetweenthefollowingtwoamountshouldbeincludedcurrentprofitandloss:
①Bookvalueoftheconfirmedpart;②Allfairvaluesoffinancialassetsandfinancialliabilitiesarerecognizedwithreferencetothepriceintheactivemarket.
Ifthetransferoffinancialassetsdoesnotmeettheconditionsofterminatingconfirmation,thefinancialassetsshouldbeconfirmedagain,thepricesreceivedwillrecognizedasfinancialliabilities.4.TheconditionstostoppingthefinancialliabilitiesTheobligationoffinancialliabilitiesarealreadycancelledwhichshouldbestoppedconfirmingthefinancialliabilityorthepartofit.Ourcompanycouldstopconfirmingthecurrentlyfinancialliabilityandbegintoconfirmthenewlyfinancialliabilityiftheloanermadeanagreementthattheywouldassumethenewwayoffinancialliabilitywhichreplacethecurrentone,andmakesurethenewlyfinancialliabilityistotallydifferentfromtheoldoneincontractwithourcompany.Stopadmittingthefinancialliabilityorapartofit,andatmeantimewecouldadmitthenewlyfinancialliabilitywhichisinnewinsertionsofcontractasthenewlyfinancialliabilityifthecurrentfinancialliabilityhasbeenrevised.Stopadmittingthebalanceofvalueoffinancialliabilityandconsideration(Includingtheroll-outofnon-cashassetsorfinancialliabilities)whichcouldbeconsiderascurrentprofitsandlosses.Stopandcontinueadmittingapartofvalue,anddistributethevalueoffinancialliability,ifourcompanyrepurchasedthepartoffinancialliability.Andthebalanceofvalueofwhichdistributedtothepartofstoppingadmittingandpaid(Includingtheroll-outofnon-cashassetsorfinancialliabilities)whichcouldbeconsiderascurrentprofitsandlosses.5.RecognitionbasisoffinancialassetsandfinancialliabilitiesAllfairvaluesoffinancialassetsandfinancialliabilitiesarerecognizedwithreferencetothepriceintheactivemarket(Usingvaluationtechnique,etc).6.Impairmentprovisionforfinancialassets①Impairmentprovisionforfinancialassetsforsale:
Ifthefairvalueoffinancialassetsforsalegreatlydropsattheendoftheperiod,orafterconsideringalltherelevantfactorsandexpectingdecreasetrendisnon-temporary,theimpairmentshouldbeconfirmed,andtheaccumulativelossformedbythedecreaseoffairvalueofowner’sequityoriginallyincludedshouldbetransferredoutaltogetherandconfirmedasimpairmentloss.②Holdingtheimpairmentprovisionofexpiredinvestments:
Themeasurementofholdingtheimpairmentprovisionofexpiredinvestmentwillbeaccordingtothemethodofthemeasurementofimpairmentprovisionforreceivables.11.AccountsReceivable(1)Accountsreceivablewithmaterialspecificamountandspecificprovisionedbaddebtpreparation.
Judgmentcriteriaoramountstandardofmaterialspecificamountoramountcriterial: | Theaccountsreceivablewhosesingleamountisover1millionyuan&accountsforover10%oftheaccountsreceivableamount. |
Provisionmethodwithmaterialspecificamountandprovisionofspecificbaddebtpreparation: | Conductthedevaluetestseparately.Setupthebaddebtreserveaccordingtotheshortfallofthepresentvalueofexpectedfuturecashflowsagainstitscarryingamountandrecorditintotheprofits&lossesatthecurrentperiod. |
(2)TheaccountsreceivableofbaddebtprovisionsmadebycreditriskGroup
ThebasisfordeterminingthecombinationofCreditrisk:Theaccountsreceivablewhosesingleamountisover1millionyuan&accountsforover10%oftheaccountsreceivableamount.Conductthedevaluetestseparately.Setupthebaddebtreserveaccordingtotheshortfallofthepresentvalueofexpectedfuturecashflowsagainstitscarryingamountandrecorditintotheprofits&lossesatthecurrentperiod.IntheGroups,adoptingaginganalysismethodtowithdrawbaddebtprovision√Applicable□Notapplicable
Aging | Rateforreceivables(%) | Rateforotherreceivables(%) |
Within1year(Included1year) | 0.00% | 0.00% |
1-2years | 10.00% | 10.00% |
2-3years | 30.00% | 30.00% |
3-4years | 50.00% | 50.00% |
4-5years | 90.00% | 90.00% |
Over5years | 100.00% | 100.00% |
Whentheprovisionforbaddebtsismadeaccordingtotheaginganalysismethod,theprovisionshallbethebalanceoftheaccountsreceivableattheendoftheperioddeductedtheaccountcurrentofthesubsidiarieswithinthescopeoftheconsolidatedstatement.Accountsonpercentagebasisingroup:
□applicable√notapplicableAccountsonotherbasisingroup:
√Applicable□Notapplicable
Separatelycarryouttheimpairmenttest,preparethebaddebtaccordingtotheexpectedfuturecashflowpresentvaluebelowthebalanceofitsbookvalue,andtakeaccountofthecurrentprofitandloss.(3)Accountreceivablewithnon-materialspecificamountbutspecificbaddebtpreparation
Reasonofindividuallywithdrawingbaddebtprovision | Theaccountsreceivableunder5yearsofagewhicharenotsignificantwithoutanybusinessconnectionsanymore. |
Witharawalmethodforboaddebtprovision | Conductthedevaluetestseparately.Setupthebaddebtreserveaccordingtotheshortfallofthepresentvalueofexpectedfuturecashflowsagainstitscarryingamountandrecorditintotheprofits&lossesatthecurrentperiod. |
12.InventoryWhethertheCompanyneedstocomplywiththedisclosurerequirementsforspecificindustrieNo1.Investoriesclass:Thecompany’sstockscanbeclassifiedas:rawmaterials,inventorygoods,low-valueconsumables&othermaterials,etc.2.Valuationmethodofinventoryissued:Thecompanycalculatesthepricesofitsinventoriesaccordingtotheweightedaveragesmethodorthefirst-infirst-outmethod.3.RecognitionBasisofInventories’NetRealizableValuesandCounting&DrawingMethodofObsolete
InventoryReserves:Aftertakingstockattheendoftheperiod,4.InventorySystem:AdoptsthePerpetualInventorySystem13.DividedasassetsheldforsaleInthepresenceofthefollowingconditionsaresatisfiedwhennon-currentassetsorapartofthecompanyisclassifiedasheldforsale:
(1)Thecomponentsshouldbeimmediatelysoldunderthecurrentconditiononlyaccordingtotheusualtermsofthepartssold.(2)Theenterprisehasmaderesolutionforthedisposalofthecomponents,theapprovalofshareholders’meetingorrelevantauthorityagencyiftheshareholder’sapprovalisrequestedbytherules.(3)Theenterprisehassignedtheirrevocabletransferagreementwiththetransferee.(4)Thetransfershallbecompletedwithinoneyear.Forthenon-currentassetsheldforsale(excludingthefinancialassetsandthedeferredincometaxassets),thelessamountafterthebookvalueandfairvaluerespectivelyminusthedisposalcostsshallbepresentedasDividedasassetsheldforsaleassets.Iftheamountofthefairvalueminusthedisposalcostsislessthanthatoftheoriginalbookvalue,theassetsimpairmentlossshallberecognized.14.Long-termequityinvestment(1)TheClassificationofLong-termEquityInvestmentsThelong-termequityinvestmentsofthecompanyshouldincludetheinvestmentsinthesubsidiariesandtheinvestmentsincooperativeenterprisesandjointventures.(2)TheRecognitionofInvestmentCost
1Forthebusinesscombinationundercommoncontrolandthecombiningpartypayingincash,transferring
non-monetaryassets,bearingdebtsorissuingtheequitysecuritiesastheconsideration,theinitialinvestmentcostshallberecognizedaccordingtothesharesofthebookvalueintheconsolidatedfinancialstatementoftheultimatecontrollingpartythatacquiredbythecombinedpartyonthecombinationdate.Thecapitalreservesshallbeadjustedforthedifferencebetweentheinitialinvestmentcostoflong-termequityinvestmentandthebookvalueofthepaidcash,thetransferrednon-monetaryassetsandthebornedebts.Theretainedearningsshallbeadjustedifthecapitalreservesareinsufficienttooffset.Forthelong-termequityinvestmentafterthebusinesscombinationundercommoncontrolrealizedstep-by-stepthroughmultipletransactions,thesharesofthebookvalueoftheowner’sequityofthecombinedpartyshallbeastheinitialinvestmentcostintheindividualfinancialstatementsandtheconsolidatedfinancialstatementsaspertheshareholdingproportion.Thecapitalreservesshallbeadjustedforthebalancebetweenthesumsofthebookvalueoftheequityinvestmentofthecombinedpartyheldonthecombinationdateandthenewinvestmentcostincreasedonthecombinationdateminustheinitialinvestmentcostoflong-termequityinvestment.Theretainedearningsshallbeadjustedifthecapitalreservesareinsufficienttooffset.②Forthebusinesscombinationundernon-commoncontrol,theinitialinvestmentcostshallberecognizedaccordingtothefairvalueofthemergerconsiderationpaidonthepurchasedate.Forthelong-termequityinvestmentafterthebusinesscombinationundernon-commoncontrolrealizedstep-by-stepthroughmultipletransactions,therelevantaccountingtreatmentshouldberespectivelyconductedfortheindividualfinancialstatementandtheconsolidatedfinancialstatements:1)Intheindividualfinancialstatements,thesumofthebook
valueofequityinvestmentfromthepurchasedpartyheldbeforethepurchasedateandthenewinvestmentcostatthepurchasedateshallbeastheinitialinvestmentcostoftheinvestment.Othercomprehensiveincomesrelatedtotheequityofthepurchasedpartyheldbeforethepurchasedateshallbetransferredintothecurrentinvestmentincomesinthedisposaloftheinvestment.2)Intheconsolidatedfinancialstatements,theequityofthepurchasedpartyheldbeforethepurchasedateshouldbemeasuredagainaccordingtothefairvalueoftheequityonthepurchasedate,andthegapofthefairvalueandthebookvalueshouldberecordedintothecurrentinvestmentincomes.Othercomprehensiveincomesrelatedtotheequityofthepurchasedpartyheldbeforethepurchasedateshallbetransferredintothecurrentinvestmentincomesonthepurchasedate.③Withtheexceptionofthebusinesscombination:
Thelong-termequityinvestmentacquiredbythepaymentincashshouldbeastheinvestmentcostaspertheactualpurchasepayment.Theinvestmentcostsincludefees,taxesandothernecessaryexpensesdirectlyrelatedtotheachievedlong-termequityinvestment.Thelong-termequityinvestmentacquiredbytheissuanceofequitysecuritiesshouldbeastheinvestmentcostasperthefairvalueoftheissuedequitysecurities.Thelong-termequityinvestmentacquiredbythenon-monetaryassetsexchange(theexchangewiththecommercialsubstance)shouldbeastheinvestmentcostasperthefairvalueoftheinvestmentandthepayabletaxes.Forthelong-termequityinvestmentacquiredbythedebtreorganization,thecreditorsshallrecognizethefairvalueoftheenjoyedsharesastheinvestmentofthedebtors.(3)SubsequentMeasurementandRecognitionMethodofProfitandLossThecostmethodshallbeadoptedtoaccountthelong-termequityinvestmentcontrolledbytheinvestedpartyandtheequitymethodshallbeadoptedtoaccountthelong-termequityinvestmentwithjointcontrolorsignificantinfluence.(4)RecognitionCriteriafortheInvestedPartywithJointControlorSignificantInfluenceThejointcontrolontheeconomicactivityappointedasperthecontractshallexistwhenthemajorfinanceandtheoperatingdecisionrelatedtotheeconomicactivityareagreedbytheinvestedpartysharingthecontrolright,whichshallberegardedasthejointcontrolontheinvestedpartyimplementedbyotherparties.Thedecisionpowertoparticipateinthefinanceandoperatingdecisionontheenterprise,butwithoutcontrolorjointcontrolwithotherpartiestoformulatethesepolicies,shallberegardedasthesignificantinfluenceontheinvestedpartyimplementedbytheinvestmententerprise.(5)ImpairmentTestMethodandWithdrawingMethodFortheimpairmenttestmethodandthewithdrawingmethodofthelong-termequityinvestment,pleasereferto“Long-termAssetsImpairmentinArticle11ofImportantAccountingPoliciesandAccountingEstimatesinNotes5ofFinancialStatements”.15.EntrustedLoansTheentrustedloansshallbemadebookkeepingaccordingtotheactuallyentrustedloanamount.Thereceivableinterestsshallbewithdrawnaccordingtotheinterestratestatedintheentrustedloans.Fortheimpairmenttestmethodandtheimpairmentprovisionwithdrawingmethodoftheentrustedloans,pleasereferto“Long-termAssetsImpairmentofImportantAccountingPoliciesandAccountingEstimatesinNotes5ofFinancialStatements”.
16..InvestmentRealEstatesThemeasurementmodeofinvestmentpropertyThemeasurementbythecostmethodDepreciationoramortizationmethodTheterm“Investmentrealestates”referstotherealestatesheldforgeneratingrentand/orcapitalappreciation,includingtherighttouseanylandwhichhasalreadybeenrented,therighttouseanylandwhichisheldandpreparedfortransferafterappreciation&therighttouseanybuildingwhichhasalreadybeenrented.Thecompanyshallmakeameasurementtotheinvestmentrealestatethroughthecostpattern.Thecompanyshalladoptthesamedepreciationpolicyasitsfixedassetsfortheinvestmentrealestatesmeasuredbythecostpattern-buildingsforrenting&thesameamortizationpolicyasitsintangibleassetsfortherighttouseanylandforrenting.
Fortheimpairmenttestmethodandtheimpairmentprovisionwithdrawingmethodofthe.InvestmentRealEstates,pleasereferto“Long-termAssetsImpairmentofImportantAccountingPoliciesandAccountingEstimatesinNotes5ofFinancialStatements”.17.Fixedassets(1)Confirmationconditionsoffixedassets
Fixedassetsrefertophysicalassetsownedforpurposeofproduction,serviceproviding,leasingormanagement,andoperationwithservicelifeofmorethanoneyear.Fixedassetsarerecognizedwhenallofthefollowingconditionsaresatisfied:FinancialbenefitsattachedtothefixedassetispossiblyinflowingtotheCompany;(2)Thecostofthefixedassetcanbereliablemeasured.
(2)Depreciationmethod
Type | Depreciationmethod | Expectedusefullife(Year) | Residualrate(%) | Annualdepreciationrate(%) |
Highwayandbridge: | ||||
Including:GuangfoExpressway | Workingflowbasis | 28years | 0% | Workingflowbasis |
FokaiExpressway-XiebiantoSanbaoSection | Workingflowbasis | 40years | 0% | Workingflowbasis |
FokaiExpressway-SanbaotoShuikouSection | Workingflowbasis | 30years | 0% | Workingflowbasis |
JingzhuExpresswayGuangzhuSection | Workingflowbasis | 30years | 0% | Workingflowbasis |
HouseBuilding | Thestraight-linemethod | 20-30years | 3%—10% | 3%-4.85% |
MachineEquipment | Thestraight-linemethod | 10years | 3%—10% | 9%-9.7% |
TransportationEquipment | Thestraight-linemethod | 5-8years | 3%—10% | 11.25%-19.4% |
Type | Depreciationmethod | Expectedusefullife(Year) | Residualrate(%) | Annualdepreciationrate(%) |
ElectricEquipmentandother | Thestraight-linemethod | 5-15years | 3%—10% | 6%-19.4% |
Provisionfordepreciationofhighwaysandbridgesismadewithworkamountmethod.Estimatednetresidualvaluerateiszero.Estimatedusefullifeisdeterminedaccordingtotheperiodofperationrightinrespectofchargecollection.Theconcretecalculationmethodisasfollows:TheamountofprovisionfordepreciationperstandardvehicletrafficvolumeistobecalculatedbasedontheestimatedtotalstandardvehicletrafficvolumewithinexpectedusefullifeofhighwaysandbridgesandtheoriginalvalueorbookvalueofhighwaysandBridges.Thenprovisionfordepreciationismadeaccordingtotheactualstandardvehicletrafficvolumeineachfiscalperiod.
Thecompanyregularlyrecheckstheestimatetotalstandardvehicletrafficvolumewithintheremainingoperationperiodofhighwaysandbridges.Whenthereisbigdifferencebetweenactualstandardvehicletrafficvolumeandestimatedstandardvehicletrafficvolume,theCompanywillre-estimatefuturetotalstandardvehicletrafficvolumeandadjusttheprovisionfordepreciationperstandardvehicletrafficvolumetoensurethatthebookvalueofrelevanthighwaysandbridgeswillbecompletelyamortizedwithinusefullife.
Thecompanyadoptsthestraightlinemethodforthedepreciationoffixedassetsexcepthighways&bridges,andrecognizesthedepreciationrateaccordingtothefixedassetgroup,expectedusefullife&theexpectednetsalvagevaluerate.(3)TestMethodforFixedAssetImpairmentandCounting&DrawingMethodforFixedAssetImpairment
ReservesFortheimpairmenttestmethodandtheimpairmentprovisionwithdrawingmethodoftheFixedassets,pleasereferto“Long-termAssetsImpairmentinArticle11ofImportantAccountingPoliciesandAccountingEstimatesinNotes5ofFinancialStatements”.18.Construction-inprocessWhethertheCompanyneedstocomplywiththedisclosurerequirementsforspecificindustrieNo1.CalculationofConstruction-in-process:Theconstructionsinprocessareclassified&accountedaccordingtotheestablishedprojects.2.Standard&TimePointforCarryingConstructionsinProcessForwardtoFixedAssetsAlltheexpendituresthatbringtheconstructioninprocesstotheexpectedconditionforuseshallbethecreditvalueofthefixedasset.Ifthefixedassetconstructioninprocesshasalreadyreachedtheexpectedconditionforuse,buthasn’tbeenmadethefinalaccount;itshallbecarriedforwardtoafixedassetaccordingtoitsestimatedvaluebasedonthebudget,costoractualcostoftheconstructionstartingfromthedatewhenitreachestheexpectedconditionforuse,andthefixedassetshallbedepreciatedaccordingtothecompany’sdepreciationpolicyforfixedassets.Afterthefinalaccounthasbeenmade,theoriginalprovisionalestimatedvalueshallbeadjustedaccordingtotheactualcost,butthedepreciationwhichhasoriginallybeencounted&drawnshallnotbeadjusted.3.TestMethodforConstruction-in-ProcessImpairmentandCounting&DrawingMethodFortheimpairmenttestmethodandtheimpairmentprovisionwithdrawingmethodoftheConstruction-inprocess,
pleasereferto“Long-termAssetsImpairmentinArticle11ofImportantAccountingPoliciesandAccountingEstimatesinNotes5ofFinancialStatements”.
19.Loanexpenses1.Recognitionprinciplesforcapitalizingofloanexpenses
BorrowingexpensesoccurredtotheCompanythatcanbeaccountedaspurchasingorproductionofassetsatisfyingtheconditionsofcapitalizing,arecapitalizedandaccountedascostofrelatedasset.Otherborrowingexpensesarerecognizedasexpensesaccordingtotheoccurredamount,andaccountedintogain/lossofcurrentterm.
Theassetsmeetingcapitalconditionsrefertothefixedassets,investmentrealestatesandinventorieswhichareconstructedorproducedinalongtimetoreachthepredicteduseorsalestate.
Whenaloanexpensesatisfiesallofthefollowingconditions,itiscapitalized:
1.Expendituresonassetshavetakenplace,assetexpendituresincludetheassetsusedtoconstructorproducetheassetswhichmeetthecapitalizationconditions,andexpendbycashortransferringnon-cashassetsorbearinginterestdebt;2.Loancostshavetakenplace;3.Theconstructionorproductionactivitiestomakeassetstoreachtheintendeduseorsaleofstatehavebegun.2.DurationofcapitalizationofLoancostsThecapitalizationperiodreferstotheperiodfromstartingcapitalizationofloancoststothestopofcapitalization,theperiodofthebreakofcapitalizationofLoancostsisnotincluded.Whentheconstructionorproductionmeetstheintendeduseorsaleofstateofcapitalizationconditions,theLoancostsshouldstopcapitalization.Whentheconstructionorproductionmeetstheconditionsofcapitalizationandcanbeusedindividually,thecapitalizationoftheloancostsoftheassetsshouldbestopped.Whereeachpartofaassetunderacquisitionandconstructionorproductioniscompletedseparatelyandisreadyforuseorsaleduringthecontinuingconstructionofotherparts,butitcannotbeusedorsolduntiltheassetisentirelycompleted,thecapitalizationoftheborrowingcostsshallbeceasedwhentheassetiscompletedentirely.3.CapitalizationSuspensionPeriod
Wheretheacquisitionandconstructionorproductionofaqualifiedassetisinterruptedabnormallyandtheinterruptionperiodlastsformorethan3months,thecapitalizationoftheborrowingcostsshallbesuspended.Iftheinterruptionisanecessarystepformakingthequalifiedassetunderacquisitionandconstructionorproductionreadyfortheintendeduseorsale,thecapitalizationoftheborrowingcostsshallcontinue.Theborrowingcostsincurredduringsuchperiodshallberecordedintotheprofits&lossesatthecurrentperiod,tilltheacquisitionandconstructionorproductionoftheassetrestarts.4.CalculationoftheamountofcapitalizationofLoancostsInterestexpenseduetospecializedLoananditsauxiliaryexpensesshallbecapitalizedbeforetheassetwhichsatisfiesthecapitalizingconditionsreachesitsuseableorsaleablestatus.
InterestamountofcommonLoantobecapitalizedequalstoaccumulatedassetexpenselessweightedaverageofspecializedloanpartofassetexpensemultipliescapitalizingrateofcommonLoanoccupied.CapitalizingrateisdeterminedaccordingtoweightedaverageinterestofcommonLoan.
IftheLoanhasdiscountorpremium,thediscountorpremiumamountshouldbedeterminedaccordingtoactualinterestsineachaccountingperiod.Theinterestamountshouldbeadjustedineachperiod.
20.Intangibleassets(1)Pricingmethod,usefullifeandimpairmenttest
1.Thevaluationmethodsofintangibleassets(1)TheinitialmeasurementisconductedaccordingtotheactualcostwhentheintangibleassetsareacquiredThecostofthepurchasedintangibleassetsincludesitsbuyingprice,relevanttaxandtheotheexpensesthataredirectlyattributedtothisassetsmeetingitspredeterminedobjectiveandotherexpensesthatoccur.Thebuyingpriceofintangibleassetsisoverthedeferredpaymentundernormalcreditconditions,whichhasthenatureoffinancingmaterially,thecostofintangibleassetsisdeterminedonthebasisofthepresentvalueofitsbuyingprice.
Weacquirethemortgagedintangibleassetsfromdebtorsthroughdebtrestructuringanddeterminetheentryvalueonthebasisofthefairvalueoftheintangibleassets,wehavethebalancebetweenthebookvalueofdebtrestructuringandthefairvalueofintangibleassetsusedformortgagechargedtothecurrentprofitandloss.
Theentryvalueofthenon-monetaryassetsexchangedintobythenon-monetaryassetsaredeterminedonthebasisofthefairvalueoftheassetsexchangedoutiftheexchangeofnon-monetaryassetshascommercialnatureandtheassetsexchangedintooroutcanbereliablymeasured,unlessthereisauthenticevidenceindicatingthatthefairvalueofassetsexchangedintoaremorereliable;ifthenon-monetaryassetsthatcannotmeettheaboveprerequisiteusethebookvalueoftheassetsexchangedoutandrelevanttaxespayableasthecostofthenon-monetaryassets,theprofitandlossisnotconfirmed.Theentryvalueoftheintangibleassetsacquiredbytheabsorptionmergerunderthecontrolofonecompanyisdeterminedbythebookvalueofthemergedparty;theentryvalueoftheintangibleassetsacquiredbytheabsorptionmergerthatisnotunderthecontrolofonecompanyisdeterminedbythefairvalue.Thecostoftheintangibleassetsdevelopedinternallyincludesthematerialsconsumedindevelopingtheassets,costofservice,registrationfees,otherpatentusedindeveloping,amortizationofconcessionandinterestchargesmeetingthecapitalizationconditionsandotherdirectcoststhatoccurbeforetheintangibleassetsmeetingthepredeterminedobjective.
(2)Subsequentmeasurement
TheCompanyanalysesandmakesjudgmentofitsserviceablelifewhenacquiringtheintangibleassets.Theintangibleassetsthathavelimitedserviceablelifeareamortizedbythestraight-linemethodduringtheperiodwhentheassetscanbringabouteconomicinterests;Theintangibleassetsaredeemedasuncertainserviceablelifeandarenotamortizedifitisimpossibletoexpecttheperiodwhentheassetscouldbringabouteconomicinterests.Attheendofperiod,theGroupshallchecktheservicelifeandamortizationmethodofintangibleassetswithfiniteservicelife,ifthereisanychange,itshallberegardedasachangeoftheaccountingestimates.Besides,theGroupshallchecktheservicelifeofintangibleassetswithoutcertainservicelife,ifthereisanyevidenceshowingthattheperiodofintangibleassetstobringtheeconomicbenefitstotheenterprisecanbeprospected,itshallbeestimatedtheservicelifeandamortizedinaccordancewiththeamortizationpoliciesforintangibleassetswithfiniteservicelife.
(
)ProvisionforthedepreciationofvalueoftheintangibleassetsFortheimpairmenttestmethodandtheimpairmentprovisionwithdrawingmethodoftheIntangibleassets,pleasereferto“Long-termAssetsImpairmentofImportantAccountingPoliciesandAccountingEstimatesinNotes5ofFinancialStatements”.
21.ImpairmentofLong-termassets(1)ScopeTheassetsImpairmentmainincludeslong-termequityinvestment,investmentproperty(theinvestmentpropertymeasuredbythefairvalueexcluded),fixedassets,projectsunderconstruction,engineeringmaterial,intangibleassets(thecapitalizeddevelopmentexpenditureincluded),assetgroup,combinationofassetgroup,businessreputation,etc..(2)RecognitionofPossibleImpairmentAssetsThecompanymakesjudgmentoftheassetsifthereexiststhepossibleimpairmentatthebalancesheetdate.Theintangibleassetswithindefinitegoodwillandservicelifeduetothecombinationofenterprise,shallbeconductedtheimpairmenttesteveryyearregardlessoftheimpairment.Theimpairmentmayoccursfortheassetsifthereisthefollowingstatus:
①Themarketpriceofassetsfallsharplyinthecurrentperiod,andthedeclineisobviouslybeyondthatestimatedduetothepassageoftimeornormaluse.②Thesignificantchangesintheeconomy,technologyorlegalenvironmentoperatedbythecompanyandtheassetsmarketinthecurrentorthenearfutureadverselyaffectthecompany.③Theimprovementofthemarketinterestratesorothermarketinvestmentreturnsinthecurrentperiod,influencethecompanytocalculateassetsestimatingthediscountrateofthepresentvalueoffuturecashflowandresultinthesharpdropoftherecoverableamountoftheassets.④Thereisevidencethatshowstheassetshavebecomeobsoleteortheentitieshavebeendamaged.⑤Theassetshavebeenorwillbeidle,terminatedtheuseorplannedtodisposeinadvance.⑥Theevidenceintheinternalreportofthecompanyshowsthattheeconomicperformanceofassetshasbeenlessthanorlowerthantheexpected,suchasthenetcashflowcreatedbyassetsortheachievedoperatingprofit(orloss)isfarbelow(orabove)theestimatedamount.⑦Otherevidencesindicatetheimpairmentofassetsmayhaveoccurred.(3)MeasurementoftheRecoverableAmountoftheAssetsTherecoverableamountshallbeestimatedifthereexiststheimpairmentfortheassets.Therecoverableamountshouldberecognizedaccordingtothehigheronebetweenthenetamountofthefairvalueminusthedisposalcostsandthepresentvalueofthecashflowofassetsexpectedinthefuture.(4)DeterminationofAssetImpairmentLossThemeasurementresultsoftherecoverableamountshowthatthebookvalueofassetsshallbereducedtotherecoverableamountandthereducedamountshallberecognizedastheimpairmentlossofassetsandrecordedintothecurrentprofitsandlosses,andtheimpairmentprovisionsoftherelevantassetsarewithdrawniftherecoverableamountoftheassetsislessthanthebookvalue.Aftertherecognitionoftheassetsimpairmentloss,thedepreciationoramortizationcostsoftheimpairmentassetsshouldbemadeadjustmentaccordinglyinthefutureperiodinordertomaketheassetstosystematicallyamortizethebookvalueoftheassetsafteradjustedwithintheremainingservicelife(theestimatedresidualvaluededucted).Theimpairmentlossofassetsafterrecognizedshouldn’tbereversedinthefutureaccountingperiod.(5)RecognitionandImpairmentTreatmentofAssetsGroupIfthereistheimpairmentforoneasset,thecompanyshallestimatetherecoverableamountbasedontheindividualasset.Ifitisdifficultforthecompanytoestimatetherecoverableamountoftheindividualasset,therecoverableamountofassetgroupshallberecognizedonthebasisoftheassetgroupwhichtheassetisbelongto.Therecognitionoftheassetgroupshouldbemadeonthebasisofthemaincashinflowgeneratedbytheassets
groupthatifisindependenttothecashinflowofotherassetsorassetsgroup.Thecorrespondingimpairmentlossshallberecognizediftherecoverableamountoftheassetsgrouportheassetsgroupcombinationislessthebookvalue(thebookvalueoftheassetsgrouportheassetsgroupcombinationshouldincludetheamortizationquotarelevanttocorporateassetsandgoodwillfortheassetsgrouportheassetsgroupcombinationamortizedbythecorporateassetsandthegoodwill).Thebookvalueofgoodwillintheamortizedassetsgrouporassetsgroupcombinationshallbefirstlyoffsetfortheimpairmentlosses,andthebookvalueofotherassetsshallbeoffsetinproportionaccordingtotheproportionofthebookvalueofotherassetsintheassetsgrouportheassetsgroupcombination,withtheexceptionofthegoodwill.
(6)TheGoodwillImpairment
Thecompanyhasconductedtheimpairmenttestatleasteveryyearforthegoodwillestablishedbythebusinesscombination.Thebookvalueofthegoodwillgeneratedbythecombinationshallbeamortizedintotherelatedassetgroupfromthepurchasedate.Ifdifficulttoamortizeintotherelevantassetgroup,thebookvalueshallbeamortizedintotherelevantassetgroupcombination.Therelevantassetgrouporassetgroupcombinationreferstothatbenefittingfromthesynergisticeffectofthebusinesscombinationandisnotmorethanthereportportionrecognizedbythecompany.Whentherelevantassetgrouportheassetgroupcombinationincludingthegoodwillareconductedtheimpairmenttest,theimpairmenttestshouldbefirstlyconductedfortheassetgroupwithoutthegoodwillortheassetgroupcombination,therecoverableamountshallbecalculatedandthecorrespondingimpairmentlossshallberecognizedbycomparisonwiththerelevantbookvalueifthereexiststheimpairmentfortheassetgrouprelevanttothegoodwillortheassetgroupcombination.Thentheimpairmenttestshouldbeconductedfortheassetgroupwiththegoodwillortheassetgroupcombination,theimpairmentlossofthegoodwillshallberecognizedandmadethetreatmentaccordingtotheprovisionsoftheassetgroupimpairmentstatedinthenotesiftherecoverableamountoftherelevantassetgrouportheassetgroupcombinationislessthanthebookvaluebycomparisonofthebookvalueoftheserelevantassetgrouportheassetgroupcombination(includingthebookvalueofthegoodwillamortized)withtherecoverableamount.22.Long-termamortizableexpensesLong-termprepaidexpensesrefertothatenterpriseshavealreadyspent,andamortizationperiodsofallexpensesaremorethanoneyear(excluding1year),theyshouldbeamortizedintheregulatedyears.23.Remuneration(1)Scopeofemployees'salaryRemunerationreferstoallkindsofrewardsorcompensationthattheCompanygivestogetinreturnfortheservicesitsemployeesprovideoremploymenttermination.Itincludesshort-termcompensation,post-employmentbenefits,demissionbenefitsandotherlong-termemployeebenefits.Enterprisestoprovideemployeesspouse,childwelfare,dependents,survivorsandotherbeneficiariesofdeceasedemployees,etc.,alsobelongtopayroll.Duringthecompany'saccountingstafftoprovideservices,theactualwages,bonuses,allowancesandsubsidies,welfare,medicalinsurance,workinjuryinsuranceandmaternityinsuranceandothersocialinsurance,housingfundconfirmed,laborunionfunds,employeeeducationfundsandasaliabilityprofitorlossorcostsrelatedassets.Ifthedebtisexpectedtoprovideservicesaftertheendoftheannualreportingperiodinwhichanemployeecannotbefullypaidwithintwelvemonths,andthefinancialimpactismaterial,theamountwillbediscountedliabilitiesmeasuredafter.
(2)Accountingmethodsforpost-employmentbenefitsPost-employmentbenefitsrefertothecompensationandbenefitsthattheCompanygivestogetinreturnforemployees’servicesfortheirretirementoremploymenttermination,excludingshort-termcompensationanddemissionbenefits.Itfallsintotwocategories,definedcontributionplansanddefinedbenefitplans.①Thedefinedcontributionplan:thecompanyshallnolongerbearthefurtherobligationtopayseverancebenefitplansafterthecompanydepositsthefixedcoststotheindependentfunds.Thebasicpensioninsuranceandtheunemploymentinsuranceshallberecognizedastheliabilityaccordingtothepayableamountaccountedbythedefinedcontributionplansandrecordedontothecurrentprofitsandlossesortherelevantassetcostsduringtheaccountingperiodoftheservicesprovidedbythestaffs.②Thedefinedbenefitplan:theseverancebenefitplanswiththeexceptionofthedefinedcontributionplans.(3)AccountingTreatmentMethodofDemissionWelfareTheCompanyofferscompensationtoterminateemploymentwithitsemployeesbeforeitexpiresorencouragethemtoacceptlay-off.Suchcompensationisdemissionbenefitsandcountedincurrentprofitandloss.Theemployeecompensationliabilitiesgeneratedbythedemissionwelfareshallberecognizedontheearlydateandrecordedintothecurrentprofitsandlosses:(1)whenthecompanycan’twithdrawthedemissionwelfareprovidedduetotherundownsuggestionortheterminationoflaborrelationsplans.(2)whentheenterpriserecognizesthecostsortheexpensesrelatedtothereorganizationofdemissionwelfarepayment.Theeconomiccompensationbeforetheofficialretirementdateshallbebelongtothedemissionwelfarewhentheimplementationoftheinternalretirementplanforworkers.Duringtheperiodfromtheterminationofservicedatetothenormalretirementdate,thepaidinternalretirementpayrollandsocialinsurancechargesshallbeoncerecordedintothecurrentprofitsandlosses.Theeconomiccompensationaftertheofficialretirementdate(suchasthenormalretirementpension)shouldbehandledaccordingtothewelfaresafterthedemission.24.EstimatedliabilitiesThecompanyshouldrecognizetherelatedobligationasaprovisionforliabilitywhentheobligationmeetsthefollowingconditions:
(1)Thatobligationisapresentobligationoftheenterprise;(2)Itisprobablethatanoutflowofeconomicbenefitsfromtheenterprisewillberequiredtosettletheobligation;(3)Areliableestimatecanbemadeoftheamountoftheobligation.Onthebalancesheetdate,anenterpriseshalltakeintofullconsiderationoftherisks,uncertainty,timevalueofmoney,andotherfactorspertinenttotheContingenciestomeasuretheestimatedliabilitiesinaccordancewiththebestestimateofthenecessaryexpensesfortheperformanceofthecurrentobligation.Whenallorsomeoftheexpensesnecessaryfortheliquidationofanestimatedliabilitiesofanenterpriseisexpectedtobecompensatedbyathirdparty,thecompensationshouldbeseparatelyrecognizedasanassetonlywhenitisvirtuallycertainthatthereimbursementwillbeobtained.Besides,theamountrecognizedforthereimbursementshouldnotexceedthebookvalueoftheestimatedliabilities25.BondpayableWhenthecompanyisissuingbonds,thetotalpriceissuedshouldbeincludedinthe“Payablebonds”subject.
Thedifferencebetweenbondissuancetotalamountandthetotalamountofbondfacevalueshouldbeworkedasbondpremiumordiscountandbeamortizedwithinthebondperiodaccordingtoactualinterestrateand
verticallinemethod,andbetreatedaccordingtoborrowingcostsdescribedbelow.26.OtherComprehensiveIncomesOthercomprehensiveincomesrefertotheprofitsandlossesunrecognizedinthecurrentprofitsandlossesaccordingtootherprovisionsofaccountingstandards.Therearetworeports:
(1)Othercomprehensiveincomesthatunabletobereclassifiedintotheprofitsandlossesinthefutureaccountingperiod,mainlyincludingthechangescausedbythenetliabilitiesandthenetassetsofthedefinedbenefitplanthatre-measuredandthesharesofothercomprehensiveincomesthataccountedandunabletobereclassifiedintotheprofitsandlossesfortheinvestedpartyinthefutureaccountingperiodaccordingtotheequitymethod.(2)Othercomprehensiveincomesthatreclassifiedintotheprofitsandlossesinthefutureaccountingperiodwhentherequirementsaremet,thesharesofothercomprehensiveincomesthataccountedandreclassifiedintotheprofitsandlossesfortheinvestedpartyinthefutureaccountingperiodaccordingtotheequitymethodwhentherequirementsaremet,theprofitsorlossescausedbythefairvaluechangesofthesellablefinancialassets,theprofitsorlossesgeneratedbythesellablefinancialassetsreclassifiedfortheheld-to-maturityinvestment,theeffectivehedgingportionoftheprofitsandlossesissuedbythecashflowhedginginstruments,andthetranslationdifferencesofforeignfinancialstatements.27.RevenuesWhethertheCompanyneedstocomplywiththedisclosurerequirementsforspecificindustriesNoThecompany’sincomesmainlyincludethetollservicerevenuesandtheservicesprovision.(1)Therecognitionprincipleofthetollservicerevenuesisthatthetollrevenuesrefertothechargesofoperatingthetollroadsandshallberecognizedintheactualcharge.(2)Therecognitionprincipleoftheservicesprovisionisasfollows:
Thelaborservicesstartedandcompletedwithinthesamefiscalyearshallberecognizedastherevenueswhenthelaborservicesfinished.Ifthelaborservicesstartedandcompletedinthedifferentfiscalyearandunderthereliableestimationoftheprovidedservicestransactionresults,thecompanyshallrecognizetherelevantserviceincomesaccordingtothecompletionpercentagemethodatthebalancesheetdate.Theresultsofthetransactioncanbeestimatedreliablywhenthefollowingrequirementsareallmet:(1)totalrevenuesandtotallaborcostscanbemeasuredreliably.(2)theeconomicbenefitsrelevanttothetransactionwillflowintotheenterprise.(3)thecompetitiondegreeofthelaborservicescanbereliablydetermined.28.GovernmentGrants
(1)GovernmentGrants
GovernmentgrantsmeansthattheCompanyobtainsmonetaryornonmonetaryassetsfreeofchargefromthegovernment,excludingthecapitalinvestedbythegovernmentasanowner.
Thecompanyrecognizesthegovernmentgrantswhenthecompanycanmeettheconditionsofgovernmentgrantsandbeabletoreceivethegovernmentgrants.Thereinto:
(1)Ifthegovernmentgrantisamonetaryasset,itshallbemeasuredaccordingtotheamountreceivedorreceivable;Ifthegovernmentgrantisanon-monetaryasset,itshallbemeasuredatfairvalue,andifthefairvalue
cannotbeobtainedreliably,itshallbemeasuredaccordingtothenominalamount.
⑵Thegovernmentgrantspertinenttoassetsareusedtowritedownthecarryingvalueoftheunderlyingassetsorarerecognizedasdeferredincome.Ifthegovernmentgrantspertinenttoassetsarerecognizedasdeferredgains,itshallbeincludedintheprofitsandlossesinareasonableandsystematicmannerwithintheusefullifeoftheunderlyingasset.TheGovernmentgrants,measuredinnominalamounts,aredirectlyincludedincurrentprofitsandlosses.Thegovernmentgrantspertinenttoincomethatareusedtocompensatetherelevantcostsorlossesofthesubsequentperiodoftheenterprisearerecognizedasdeferredincomeandarecreditedtothecurrentprofitorlossorarewrittendowntooffsetthecostsfortheperiodwhentherelevantexpensesarerecognized;thosegovernmentgrantsusedforcompensatingtherelatedexpensesorlossesincurredshallbedirectlyincludedinthecurrentprofitsandlosses.
⑶Governmentgrantsrelatedtothedailyactivitiesoftheenterpriseareincludedinotherincomeorarewrittendowntooffsetcostsinaccordancewiththeeconomicbusinessnature.Governmentgrantsthatarenotrelatedtotheday-to-dayactivitiesoftheenterpriseareincludedinnon-operatingincomeandexpenditure.
Wheretherecognizedgovernmentgrantneedstoberefunded,thentheaccountingtreatmentshallbecarriedoutintheperiodthatitneedstoberefundedaccordingtothefollowingstipulations:(1)Whereitwaswrittendownthebookvalueoftheunderlyingassetsatthetimeofinitialrecognition,thenthebookvalueoftheassetsshallbeadjusted;(2)Wherethereisarelateddeferredincome,itshallwrite-downthebookbalanceofrelateddeferredincomeandtheexcesspartshallbeincludedinthecurrentprofitandloss;(3)Wherebelongstoothercases,thatshallbedirectlyincludedinthecurrentprofitsandlosses.29.DeferredincometaxassetsanddeferredincometaxliabilitiesThecompanyislikelytodeterminethedeferredincometaxassetsproducedfromdeductibletemporarydifferenceswiththelimitofoffsettingthetaxableincomeoftemporarydifference.TheCompanyconfirmsthetemporarydifferencesofthetaxablethatisnotpaidinthecurrentandpriorperiodsasthedeferredincometaxliabilities.However,thegoodwill,thetransactionsformedfromnon-businessmergerandthosewillaffecteitheraccountingprofitorthetemporarydifferencesofthetaxableincomewhenthetransactionsoccurarenotincludedinthedeferredincometaxliabilities.30.AccountingMethodsofIncometaxThecompany’sincometaxisaccountedinBalancesheetliabilityapproach.Thecompanyrecognizesthesumofcurrentincometaxanddeferredtaxastheincometaxexpenses(orincome)in
theincomestatementonthebasisofcalculatinganddeterminingtheincometaxofthecurrentperiod(namelythecurrenttaxespayable)andthedeferredtax(thedeferredtaxexpensesorincome),butexcludingtheeffectsofthebusinesscombinationandtheincometaxesrelatedtothetransactionsoreventsdirectlyrecordedintheowner’srightsandinterests.31.Changeofmainaccountingpoliciesandestimations
⑴Changeofaccountingpolicies√Applicable□Notapplicable
OnJune26,2018,TheMinistryofFinanceissuedtheNoticeonRevisingandIssuingtheFormatofGeneralEnterpriseFinancialStatementsfor2018(Caikuai[2018]No.15),whichadjustedtheformatofenterprisefinancialstatementsaccordinglyandmergedtheoriginal"notesreceivable"and"accountsreceivable"lineitemsinto"notesreceivableandaccountsreceivable";Theitemsintheoriginal"interestreceivable","dividendreceivable"and"otherreceivables"linesaremergedinto"otherreceivables";Theitemsintheoriginal"fixedassets"and"fixedassetsliquidation"linesaremergedinto"fixedassets";Theitemsintheoriginal"engineeringmaterials"and"constructioninprogress"linesaremergedinto"constructioninprogress";Theitemsintheoriginal"notespayable"and"accountspayable"linesaremergedinto"notespayableandaccountspayable";Theitemsintheoriginal"interestpayable","dividendpayable"and"otherpayables"linesaremergedinto"otherpayables";Theitemsintheoriginal"long-termpayables"and"specialpayables"linesaremergedinto"long-termpayables";Intheincomestatement,thedetaileditemsof"managementexpenses"and"researchanddevelopmentexpenses"arebrokendownundertheitemof"managementexpenses";Thedetaileditemsof"interestexpense"and"interestincome"arebrokendownunder"financialexpense"intheincomestatement.TheCompanyadoptsretrospectiveadjustmentmethodforthisaccountingpolicychange,andretroactivelyadjuststheitemsreportedin2017financialstatements.Thedetailsareasfollows:
2017.12.31/Year2017 | Beforeadjustment | Afteradjustment | Increase/decrease |
Notesreceivableandaccountreceivable | 92,642,625.45 | 92,642,625.45 | |
Notesreceivable | |||
Accountreceivable | 92,642,625.45 | -92,642,625.45 | |
Constructioninprocess | 356,062,655.95 | 357,612,211.95 | 1,549,556.00 |
Engineeringmaterial | 1,549,556.00 | -1,549,556.00 | |
Notespayableandaccountpayable | 266,934,026.99 | 266,934,026.99 | |
Notespayable | |||
Accountpayable | 266,934,026.99 | -266,934,026.99 | |
Interestpayable | 8,494,355.93 | -8,494,355.93 | |
Dividendpayable | 26,840,792.20 | -26,840,792.20 | |
Otheraccountpayable | 86,663,237.94 | 121,998,386.07 | 35,335,148.13 |
Adminisstrativeexpenses | 189,585,575.97 | 179,811,709.59 | -9,773,866.38 |
R&DCosts | 9,773,866.38 | 9,773,866.38 |
⑵Changeofaccountingestimations□Applicable√NotapplicableVI.Taxation
1.Majorcategoryoftaxesandtaxrates
Taxcategory | Taxbasis | Taxrate |
VAT | Tollincome,RentincomeandLabourincome | 3%、5%、6%、10%、11%、16%、17% |
Citymaintenanceandconstructiontax | Theactualpaymentofturnovertax | 7%、5% |
Enterpriseincometax | Taxableincome | 25% |
Taxcategory | Taxbasis | Taxrate |
.Educationsurcharges | Theactualpaymentofturnovertax | 3% |
LocalEducationsurcharges | Theactualpaymentofturnovertax | 2% |
2.Preferentialtax
Nil
VII.Notestothemajoritemsofconsolidatedfinancialstatement1.MonetaryCapital
InRMB
Items | Amountinyear-end | BalanceYear-beginning |
Cash | 53,211.49 | 66,065.04 |
Bankdeposit | 2,123,807,010.07 | 2,362,279,050.70 |
Other | 664,774.76 | 697,584.68 |
Total | 2,124,524,996.32 | 2,363,042,700.42 |
OthernoteThebalanceofrestrictedbankdepositsattheendoftheperiodwas1,221,200.00yuan,whichwasthelandreclamationfunddepositedintothefundcustodyaccountforthereconstructionandexpansionprojectofsanbaotoshuikousectionofFokaiExpressway.2.NotesreceivableandAccountreceivable
InRMB
Items | Amountinyear-end | BalanceYear-beginning |
Accountreceivable | 91,076,995.07 | 92,642,625.45 |
Total | 91,076,995.07 | 92,642,625.45 |
2.Accountreceivable
1.Classificationaccountreceivables.
InRMB
Category | Amountinyear-end | BalanceYear-beginning | ||||||||
BookBalance | Baddebtprovision | Bookvalue | BookBalance | Baddebtprovision | Bookvalue | |||||
Amount | Proportion(%) | Amount | Proportion(%) | Amount | Proportion(%) | Amount | Proportion(%) | |||
Accountreceivablewithsinglemajoramountandwithdrawalbaddebtprovisionforsingleitem | 45,159,424.41 | 48.95% | 45,159,424.41 | 65,760,470.23 | 70.64% | 65,760,470.23 | ||||
Accountreceivablewithdrawalbaddebtprovisionbygroupofcreditriskcharacteristics | 47,094,450.65 | 51.05% | 1,176,879.99 | 2.50% | 45,917,570.66 | 27,331,295.37 | 29.36% | 449,140.15 | 1.64% | 26,882,155.22 |
Total | 92,253,875.06 | 100.00% | 1,176,879.99 | 1.28% | 91,076,995.07 | 93,091,765.60 | 100.00% | 449,140.15 | 0.48% | 92,642,625.45 |
Receivableaccountswithlargeamountindividuallyandbaddebtprovisionswereprovided√Applicable□Notapplicable
InRMB
Receivableaccounts(Unit) | Amountinyear-end | |||
Receivableaccounts | Baddebtprovision | Proportion | Reason | |
GuangdongUnionElectronicServicesCo.,Ltd. | 45,159,424.41 | Itisexpectedtobefullyrecoveredafterasingletest | ||
Total | 45,159,424.41 | -- | -- |
Accountreceivableonwhichbaddebtprovisionsareprovidedonagebasisinthegroup:
√Applicable□Notapplicable
InRMB
Aging | Balanceinyear-end | ||
Receivableaccounts | Baddebtprovision | Withdrawalproportion | |
Subitemwithin1year | |||
Subtotalwithin1year | 41,182,465.65 | 0.00% | |
1-2years | 3,463,964.90 | 346,396.49 | 10.00% |
2-3years | 2,109,716.10 | 632,914.83 | 30.00% |
3-4years | 278,304.00 | 139,152.00 | 50.00% |
4-5years | 15,833.33 | 14,250.00 | 90.00% |
Over5years | 44,166.67 | 44,166.67 | 100.00% |
Total | 47,094,450.65 | 1,176,879.99 | 2.50% |
Notesofthebasisofrecognizingthegroup:
Inthegroups,accountsreceivableadoptingbalancepercentagemethodtowithdrawbaddebtprovision:
□Applicable√NotapplicableInthegroups,accountsreceivableadoptingothermethodstoaccruebaddebtprovision:
Nil
Accountsreceivablewithindividuallyinsignificantamountandindividualprovisionforbaddebts:
Nil
(2)Accrualperiod,recoveryorreversalofbaddebtssituationThecurrentamountofprovisionforbaddebtsis727,739.84yuan;recoveryorpaybackforbaddebtsAmountis0.00yuan.Wherethecurrentbaddebtsbackorrecoversignificantamounts:Nil
(3)Thecurrentaccountsreceivablewrite-offssituation
Nil
(4)Theendingbalanceofotherreceivablesowedbytheimputationofthetopfiveparties
Name | Amount | Aging | Proportion(%) | Baddebtprovision |
GuangdongUnionElectronicServicesCo.,Ltd. | 45,159,424.41 | Within1year | 48.96 | - |
GuangdongHumenBridgeCo.,Ltd. | 12,579,159.31 | Within1year | 13.64 | - |
ShandongBoanIntelligentTechnologyCo.,Ltd | 11,885,923.95 | Within2years | 12.88 | 230,236.00 |
GuangdongJingzhuExpresswayGuangzhuNorthSectionCo.,Ltd. | 5,280,850.02 | Within1year | 5.72 | - |
GansuZiguangIntelligentTransportation&ControlTechnologyCo.,Ltd. | 1,901,000.00 | Within1year | 2.06 | - |
Total | 76,806,357.69 | -- | 83.26 | 230,236.00 |
(5)AccountreceivablewhichterminatetherecognitionowningtothetransferofthefinancialassetsNil(6)TheamountoftheassetsandliabilitiesformedbythetransferandthecontinuesinvolvementofaccountsreceivableNil
Othernote:
3.Prepayments
(1)Ageanalysis
InRMB
Age | Balanceinyear-end | BalanceYear-beginning | ||
Amount | Proportion(%) | Amount | Proportion(%) | |
Within1year | 1,708,205.40 | 89.30% | 4,238,442.26 | 95.20% |
1-2years | 8,721.49 | 0.20% | ||
2-3years | 35,000.00 | 0.79% | ||
Over3years | 204,738.00 | 10.70% | 169,738.00 | 3.81% |
Total | 1,912,943.40 | -- | 4,451,901.75 | -- |
Notesofthereasonsoftheprepaymentagesover1yearwithsignificantamountbutfailedsettledintime:
Nil
(2)Top5oftheclosingbalanceoftheprepaymentcollectedaccordingtotheprepaymenttarget
Name | Amount | Time | Proportion(%) |
GuangdongLitongRealestateInvestmentCo.,Ltd. | 735,092.38 | Within1year | 38.43 |
CPIC | 594,467.44 | Within1year | 31.08 |
GuangzhouMaritimeCourt | 169,738.00 | Over5years | 8.87 |
ZhaoqingYuezhaoHighwayCo.,Ltd. | 144,702.50 | Within1year | 7.56 |
DongguanYongyaoPhotoelectricityTechnologyCo.,Ltd. | 93,000.00 | Within1year | 4.86 |
Total | 1,737,000.32 | 90.80 |
Othernote:
4.Otheraccountsreceivable
InRMB
Items | Balanceinyear-end | BalanceYear-beginning |
Dividendreceivable | 1,205,472.90 | |
Otherreceivable | 15,281,783.12 | 15,415,512.07 |
Total | 16,487,256.02 | 15,415,512.07 |
(1)Dividendreceivable
1)Dividendreceivable
InRMB
Items | Balanceinyear-end | BalanceYear-beginning |
GuangdongRadioandTelevisionNetworksinvestmentNo.1Limitedpartnershipenterprise | 1,205,472.90 | |
Total | 1,205,472.90 |
(2)Significantdividendreceivableagedover1year
Nil
(2).Otheraccountsreceivable
(1)Otheraccountsreceivabledisclosedbycategory
InRMB
Category | Balanceinyear-end | BalanceYear-beginning | ||||||||
BookBalance | Baddebtprovision | Bookvalue | BookBalance | Baddebtprovision | Bookvalue | |||||
Amount | Proportion(%) | Amount | Proportion(%) | Amount | Proportion(%) | Amount | Proportion(%) | |||
OtherAccountreceivablewithsinglemajoramountandwithdrawalbaddebtprovisionforsingleitem | 51,535,736.09 | 77.11% | 51,535,736.09 | 100.00% | 53,351,565.01 | 75.72% | 53,351,565.01 | 100.00% | ||
OtherAccountreceivablewithdrawalbaddebtprovisionbygroupofcreditriskcharacteristics | 15,298,012.11 | 22.89% | 16,228.99 | 0.11% | 15,281,783.12 | 17,110,594.66 | 24.28% | 1,695,082.59 | 9.91% | 15,415,512.07 |
Total | 66,833,748.20 | 100.00% | 51,551,965.08 | 77.13% | 15,281,783.12 | 70,462,159.67 | 100.00% | 55,046,647.60 | 78.12% | 15,415,512.07 |
-Otherreceivableaccountswithlargeamountandwereprovidedhaddebtprovisionsindividuallyatendofperiod.√Applicable□Notapplicable
InRMB
Otherreceivable(Unit) | Balanceinyear-end | |||
Otherreceivable | Baddebtprovision | Proportion | Reason | |
KunlunSecuritiesCo.,Ltd. | 47,528,056.18 | 47,528,056.18 | 100.00% | Theparentcompanyoncepaid33,683,774.79yuanintoKunlunSecuritiesCo.,Ltd,GuangdongExpresswaytechnologyinvestmentCo.,Ltdoncepaid18,000,000.00yuanintoKunlunSecuritiesCo.,Ltd.QinghaiProvinceXiningCity’sintermediatepeople’scourtmadeaadjudicationunderlawdeclaredthatKunlunSecuritiesCo.,LtdwentbankruptandrepaiddebtinNovember11,2006.OnMarch2007,TheCompanyandGuangdongExpresswayTechnologyInvestmentCo.,LtdhadswitchedthemoneythatpaidintoKunlunSecuritiesCo.,Ltdtootheraccountreceivable,andfollowthecarefulprincipletodoubtfuldebtsprovision.The710,349.92yuanCreditwasRecoveredin2008,The977,527.77yuancreditwasrecoveredin2011,The652,012.00yuanCreditwasrecoveredin2014,The1,815,828.92yuanCreditwasrecoveredin2018,andtheprovisionforhaddebtisdeducted. |
BeijingGelinEnzeOrganicFertilizerCo.,Ltd. | 4,007,679.91 | 4,007,679.91 | 100.00% | GuangdongExpresswayTechnologyinvestmentCo.,Ltd.shouldchargeBeijingGelinEnzeOrganicFertilizerCo.,Ltd.for12,220,079.91yuan.Eightmillionsofitwasentrustloan,threemillionwastemporaryborrowing12,400.00yuanisthecommissionloaninterest,therestofitwasadvancemoneyforanother,BeijingGelinEnzeOrganicFertilizerCo.,Ltd’soperatingstatuswashadandhadalreadyceasedproducing,Accordingly,thecontrollingsubsidiaryofthecompanyGuangdongExpresswayInvestmentCo.,Ltd.accountedfullprovisionforBaddebt12,220,079.91yuanprovision.Thecompanyin2014recoveredarrearsof8,000,000.00yuan,rushedbacktotheprovisionforbaddebtsandwriteoffuncollectedinterestentrustedloansaccordingtoThesettlementagreementof212,400.00yuan. |
51,535,736.09 | 51,535,736.09 | -- | -- |
OtherreceivableaccountsinGrouponwhichbaddebtprovisionswereprovidedonageanalyzebasis:
√Applicable□Notapplicable
InRMB
Aging | Amountinyear-end | ||
Otherreceivable | Baddebtprovision | Withdrawalproportion | |
Subitemwithin1year | |||
Subtotalwithin1year | 6,988,839.31 | ||
1-2years | 10.00% | ||
2-3years | 30.00% | ||
Over3years | 32,457.98 | 16,228.99 | 50.00% |
3-4years | 90.00% | ||
4-5years | 100.00% | ||
Over5years | 7,021,297.29 | 16,228.99 | 0.23% |
Total |
Notesofthebasisofrecognizingthegroup:
Inthegroups,otheraccountsreceivableadoptingbalancepercentagemethodtowithdrawbaddebtprovision□Applicable√NotapplicableInthegroups,otheraccountsreceivableadoptingothermethodstoaccruebaddebtprovision:
√Applicable□Notapplicable
Name | Amountinyear-end | |||
Otheraccountreceivable | Baddebtprovision | Withdrawalproportion(%) | Reason | |
ShandongBoanIntelligentTechnologyCo.,Ltd | 1,725,155.40 | Guaranteesfund | ||
GuangdongLitongRealestateInvestmentCo.,Ltd | 1,505,864.00 | Deposit | ||
GuangdongGuanghuiExpresswayCo.,Ltd | 1,462,587.90 | Guaranteesfund,deposit | ||
GuangdongExpresswayCo.,Ltd. | 630,254.38 | Administrationexpenses,Guaranteesfund | ||
ZhaoqingYuezhaoHighwayCo.,Ltd. | 429,558.65 | Guaranteesfund,deposit | ||
GuangdongXinyueTrafficInvestmentCo.,Ltd. | 415,442.60 | Guaranteesfund | ||
BeijingShibangWeilishiPropertyManagementServicesCo.,Ltd. | 393,331.00 | Guaranteesfund,deposit | ||
GuangdongQinglianHighwayDevelopmentCo.,Ltd. | 313,000.00 | Guaranteesfund | ||
GuangdongGuangzhuWestLineExpresswayCo.,Ltd. | 185,366.60 | Guaranteesfund |
Name | Amountinyear-end | |||
Otheraccountreceivable | Baddebtprovision | Withdrawalproportion(%) | Reason | |
GuangshenZhuExpresswayCo.,Ltd. | 185,014.40 | Guaranteesfund | ||
GuangdongHongkongZhuhaiMacaoBridgeShuttleBusCo.,ltd. | 149,947.50 | Guaranteesfund | ||
BeijingGongkeFeidaTransportEngineeringDevelopmentCo.,Ltd. | 111,335.20 | Guaranteesfund | ||
GuangdongFeidaTransportationEngineeringDevelopmentCo.,Ltd. | 90,920.75 | Guaranteesfund | ||
GuangdongHighwayConstructionCo.,Ltd. | 123,283.25 | Guaranteesfund | ||
GuangdongRoad&BridgeConstructionDevelopmentCo.,Ltd. | 73,773.60 | Guaranteesfund | ||
ChengduShuguangFibre-opticalNetworkCo.,ltd. | 59,758.09 | Guaranteesfund | ||
GuangdongBodaExpresswayCo.,Ltd. | 51,808.80 | Guaranteesfund | ||
GuangzhouChengchengAutoLeasingServiceCo.,ltd. | 30,000.00 | Deposit | ||
GuangdongJiangzhongExpresswayCo.,Ltd. | 28,120.00 | Guaranteesfund | ||
GuangzhouTuzhilingComputerTechnologyCo.,Ltd. | 25,438.80 | Guaranteesfund | ||
GuangzhouExpressTransportationConstructionCo.,Ltd. | 22,094.40 | Guaranteesfund | ||
GuangzhouLongfengAutoLeasingCo.,Ltd. | 20,000.00 | Guaranteesfund | ||
GuangzhouBeihuanExpresswayCo.,Ltd. | 16,590.40 | Guaranteesfund | ||
GuangzhouHuananRoad&BridgeCo.,Ltd. | 16,000.00 | Guaranteesfund | ||
GuangzhouSaitisiElectromechanicalInstallationEngineeringCo.,Ltd. | 15,875.00 | Guaranteesfund | ||
ShanxiHantangComputerCo.,Ltd. | 14,250.00 | Guaranteesfund | ||
GuangzhouDaguangExpresswayCo.,Ltd. | 12,749.60 | Guaranteesfund | ||
GuangdongShenshanExpresswayEastSectionCo.,Ltd. | 12,000.00 | Guaranteesfund | ||
GuangdongGaodaPropertyDevelopmentCo.,ltd. | 11,748.00 | Guaranteesfund | ||
GuangzhouDingrongInformationTechnologyCo.,Ltd. | 10,950.00 | Guaranteesfund | ||
GuangzhouSuihuaExpresswayCo.,Ltd. | 10,400.00 | Guaranteesfund | ||
ZhongshanGlobalEnvironmentalEngineeringCo.,Ltd. | 10,000.00 | Guaranteesfund | ||
GuangdongZhonglinElectricalInstallationEngineeringCo.,Ltd. | 8,820.00 | Guaranteesfund |
Name | Amountinyear-end | |||
Otheraccountreceivable | Baddebtprovision | Withdrawalproportion(%) | Reason | |
GuangdongMaozhanExpresswayCo.,Ltd. | 8,747.20 | Guaranteesfund | ||
GuangdongHumenBridgeCo.,Ltd. | 8,606.50 | Guaranteesfund | ||
GuangdongShanfenExpresswayCo.,Ltd. | 8,028.80 | Guaranteesfund | ||
GuangdongBaomaoExpresswayCo.,Ltd. | 7,633.60 | Guaranteesfund | ||
GuangdongYuedongExpresswayIndustryDevelopmentCo.,Ltd. | 7,367.20 | Guaranteesfund | ||
GuangdongGuangleExpresswayCo.,Ltd. | 7,248.00 | Guaranteesfund | ||
FoshanGuangsanExpresswayCo.,Ltd. | 6,492.00 | Guaranteesfund | ||
GuangdongJingzhuExpresswayGuangzhuNorthsectionCo.,Ltd. | 6,064.00 | Guaranteesfund | ||
GuangdongYangmaoExpresswayCo.,Ltd. | 6,004.80 | Guaranteesfund | ||
Huishen(Yantian)ExpresswayHuizhouCo.,Ltd. | 5,600.00 | Guaranteesfund | ||
GuangdongLitongTechnologyInvestmentCo.,Ltd. | 5,273.00 | Guaranteesfund | ||
GuangdongMaomingNandaElectricPowerConstructionCo.,ltd. | 5,000.00 | Deposit | ||
GuangdongZhaoyangExpresswayCo.,Ltd. | 4,304.00 | Guaranteesfund | ||
GuangdongGuangshaoExpresswayCo.,Ltd. | 3,762.70 | Guaranteesfund | ||
GuangdongYueyunTrafficCo.,Ltd. | 3,032.00 | Guaranteesfund | ||
HongkongZhuhaiMacaoBridgeZhuhaiConnectingLineManagementCenter | 3,000.00 | Guaranteesfund | ||
JiangmenJiangheExpresswayCo.,Ltd. | 2,539.20 | Guaranteesfund | ||
GuangzhouGuangcongExpresswayCo.,Ltd. | 2,027.20 | Guaranteesfund | ||
FoshanNanhaiJiashengDrinkingWaterChain | 1,800.00 | Deposit | ||
ShanxiSiheTrafficEngineeringCo.,Ltd. | 1,600.00 | Guaranteesfund | ||
BeijingZhongheTianxiaManagementConsultationCo.,Ltd. | 1,000.00 | Guaranteesfund | ||
GuangdongWeishiHighwayEngineeringCo.,Ltd. | 146.30 | Guaranteesfund | ||
Total | 8,276,714.82 |
(2)Accrualperiod,recoveryorreversalofbaddebtssituationThecurrentamountofprovisionforbaddebtsis0.00
yuan;recoveryorpaybackforbaddebtsAmountis1,960,695.26yuan.Wherethecurrentbaddebtsbackorrecoversignificantamounts
InRMB
Name | Amount | Way | Reason | Basis |
KunlunSecuritiesCo.,Ltd. | 1,815,828.92 | Receivedbankdeposit | Liquidationgroupallocation | Itisnotexpectedtorecoverthefullprovisionforbaddebts |
Total | 1,815,828.92 | -- |
(3)Theactualwrite-offotheraccountsreceivable
InRMB
Items | Amount |
Theactualwrite-offotheraccountsreceivable | 1,533,987.26 |
Includingsignificantotherreceivable::
InRMB
Name | Nature | Amount | Reason | Writing-offprocedure | Relatedtransaction |
HeshanTrafficRealestateDevelopmentCo.,Ltd. | Other | 1,470,000.00 | Itisnotexpectedtorecover | Boardapproval | No |
Total | -- | 1,470,000.00 | -- | -- | -- |
Note:
(4)Otheraccountsreceivableclassifiedbythenatureofaccounts
InRMB
Nature | Closingbookbalance | Openingbookbalance |
Securitiestradingsettlementfundsbalance | 47,528,056.18 | 49,343,885.10 |
Guaranteedeposit | 7,813,222.94 | 5,973,582.34 |
CurrentaccountofGelinenze | 4,007,679.91 | 4,007,679.91 |
Prettycash | 3,800,100.00 | 3,950,100.00 |
Advertisingandservicefee | 924,266.65 | 2,187,578.36 |
Other | 2,760,422.52 | 4,999,333.96 |
Total | 66,833,748.20 | 70,462,159.67 |
(5)Top5oftheclosingbalanceoftheotheraccountsreceivablecolletedaccordingtothearrearsparty
InRMB
Name | Nature | Closingbalance | Aging | Proportionofthetotalyearendbalanceoftheaccountsreceivable(%) | Closingbalanceofbaddebtprovision |
KunlunSecurities | Securitiestradingset | 47,528,056.18 | Over5years | 71.11% | 47,528,056.18 |
Co.,Ltd | tlementfunds | ||||
BeijingGelinEnze | Currentaccount | 4,007,679.91 | Over5years | 6.00% | 4,007,679.91 |
ShandongBoanIntelligentTechnologyCo.,Ltd. | RetentionMoney | 1,725,155.40 | Within1year | 2.58% | |
GuangdongLitongRealEstatesInvestmentCo.,Ltd. | Deposit | 1,505,864.00 | 1-2years | 2.25% | |
GuangdongGuanghuiExpresswayCo.,Ltd. | Deposit | 1,478,904.68 | Within4yearandOver5years | 2.21% | |
Total | -- | 56,245,660.17 | -- | 84.15% | 51,535,736.09 |
(6)Accountsreceivableinvolvedwithgovernmentsubsidies
Nil(7)OtheraccountreceivablewhichterminatetherecognitionowningtothetransferofthefinancialassetsNil(8)Theamountoftheassetsandliabilitiesformedbythetransferandthecontinuesinvolvementofotheraccountsreceivable
Nil
Othernote:
5.InventoryWhethertheCompanyneedstocomplywiththedisclosurerequirementsforspecificindustriesNo
(1)Inventorytypes
InRMB
Items | Year-endbalance | Year-beginningbalance | ||||
BookBalance | Provisionforbaddebts | Bookvalue | BookBalance | Provisionforbaddebts | Bookvalue | |
Rawmaterial | 81,017.91 | 81,017.91 | ||||
Total | 81,017.91 | 81,017.91 |
Whetherthecompanyisrequiredtocomplywiththe"ShenzhenStockExchangeIndustryInformationDisclosureGuidelinesNo.4-listedcompaniesengagedinseedindustry,plantingbusiness"disclosurerequirements
No
Thecompanyisrequiredtocomplywiththe"ShenzhenStockExchangeIndustryInformationDisclosureGuidelinesNo.11-listedcompaniesengagedinJewelryindustry"disclosurerequirements
No(2)InventoryfallingpricereservesNil(3)DescriptionofTheclosingbalanceofinventoriescontaintheamountofborrowingcostscapitalizedNil(4)Completedunsettledassetsformedfromtheconstructioncontactattheperiod-endNil6.Non-currentassetduewithin1year
InRMB
Items | Year-endbalance | Year-beginningbalance |
Advancebusinesstax | 51,745.32 | 55,669.14 |
Total | 51,745.32 | 55,669.14 |
Othernote:
7.Othercurrentassets
InRMB
Items | Year-endbalance | Year-beginningbalance |
Inputtaxtobededucted | 76,576.08 | |
Total | 76,576.08 |
Othernote:
8.Available-for-salefinancialassets(1)Listofavailable-for-salefinancialassets
InRMB
Items | Amountinyear-end | BalanceYear-beginning | ||||
Bookbalance | Baddebtprovision | Bookvalue | Bookbalance | Baddebtprovision | Bookvalue | |
Available-for-saleequityInstruments | 1,705,811,594.53 | 37,020,000.00 | 1,668,791,594.53 | 1,788,150,824.93 | 36,793,200.00 | 1,751,357,624.93 |
Measuredbyfairvalue | 870,443,292.80 | 870,443,292.80 | 952,782,523.20 | 952,782,523.20 | ||
Measuredbycost | 835,368,301.73 | 37,020,000.00 | 798,348,301.73 | 835,368,301.73 | 36,793,200.00 | 798,575,101.73 |
Total | 1,705,811,594.53 | 37,020,000.00 | 1,668,791,594.53 | 1,788,150,824.93 | 36,793,200.00 | 1,751,357,624.93 |
(2)Available-for-salefinancialassetsmeasuredbyfairvalueattheperiod-end
InRMB
Type | Available-for-saleequityinstruments | Available-for-saleDebtinstruments | Total |
Costoftheequityinstruments/amortizedcostoftheliabilitiesinstruments | 517,560,876.80 | 517,560,876.80 | |
Fairvalue | 870,443,292.80 | 870,443,292.80 | |
Changedamountofthefairvalueaccumulativelyincludedinothercomprehensiveincome | 352,882,416.00 | 352,882,416.00 |
Asattheendoftheperiod,thecompanyholdsshares235,254,944sharesofChinaEverbrightBankAccordingtotheclosingpriceofDecember31,2018of3.70yuan,thefinalcalculationoffairvaluewas
870,443,292.80yuan.
(3)Available-for-salefinancialassetsmeasuredbycostattheperiod-end
InRMB
Investee | Bookbalance | Impairmentprovision | Shareholdingproportionamongtheinvestees | Cashbonusofthereportingperiod | ||||||
Period-begin | Increase | Period-begin | Increase | Decrease | Period-end | |||||
HuaxiaSecuritiesCo.,Ltd.(Note1) | 5,400,000.00 | 5,400,000.00 | 5,400,000.00 | 5,400,000.00 | 0.27% | |||||
HuazhengAssetsManagementCo.Ltd.(Note2) | 1,620,000.00 | 1,620,000.00 | 1,393,200.00 | 226,800.00 | 1,620,000.00 | 0.54% | ||||
GuangdongGuangleExpresswayCo.,Ltd. | 748,348,301.73 | 748,348,301.73 | 9.00% | |||||||
GuangdongRadioandTelevisionNetworksinvestmentNo.1Limitedpartnershipenterprise | 50,000,000.00 | 50,000,000.00 | 3.11% | 1,205,472.90 | ||||||
KunlunSecuritiesCo.,Ltd.(Note3) | 30,000,000.00 | 30,000,000.00 | 30,000,000.00 | 30,000,000.00 | 5.74% | |||||
Total | 835,368,301.73 | 835,368,301.73 | 36,793,200.00 | 226,800.00 | 37,020,000.00 | -- | 1,205,472.90 |
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.TheCompanymadeprovisionof1.3932millionyuanforimpairmentinrespectofthislong-termequityinvestmentof1.62millionyuan.Duringthereportingperiod,Thecompanyjudgedthatthepossibilityofrecoveryoftheinvestmentwasverysmallandmadeaprovisionof226,800yuanforimpairment.Note3.Theowner'sequityofKunlunSecuritiesCo.,Ltd.wasnegativeanditenteredliquidationprocedureinOctober2005.AwhollyownedsubsidiaryofGuangdongExpresswayTechnologyInvestmentCo.,Ltd.WillinvestKunlunSecuritiesCo.,Ltd.'sfullprovisionforimpairmentof30millionyuan.
(4)Changesoftheimpairmentoftheavailable-for-salefinancialassetsduringthereportingperiod
InRMB
Type | Available-for-saleEquityinstruments | Available-for-saleDebtinstruments | Total |
Balanceofthewithdrawnimpairmentattheperiod-begin | 36,793,200.00 | 36,793,200.00 | |
Currentperiodwithdrawal | 226,800.00 | 226,800.00 | |
Balanceofthewithdrawnimpairmentattheperiod-end | 37,020,000.00 | 37,020,000.00 |
⑸Relevantdescriptionoftheendofthefairvalueoftheequityinstrumentsattheendofaseriousdeclineinfairvalueornontemporarydeclinebutnotrelatedtoimpairmentprovision
Nil
9.Long-termequityinvestment
InRMB
Investees | Openingbalance | Increase/decrease | Closingbalance | Closingbalanceofimpairmentprovision | |||||||
Additionalinvestment | Negativeinvestment | Investmentprofitandlossrecognizedundertheequitymethod | Adjustmentofothercomprehensiveincome | Changesofotherequity | Cashbonusorprofitsannouncedtoissue | Withdrawalofimpairmentprovision | Other | ||||
I.Jointventure | |||||||||||
GuangdongGuanghuiExpresswayCo.,Ltd. | 949,906,833.96 | 290,709,616.82 | 26,710,620.00 | 274,805,847.20 | 992,521,223.58 | ||||||
ZhaoqingYuezhaoHighwayCo.,Ltd. | 291,906,117.18 | 58,355,080.40 | 43,088,859.48 | 307,172,338.10 | |||||||
Subtotal | 1,241,812,951.14 | 349,064,697.22 | 26,710,620.00 | 317,894,706.68 | 1,299,693,561.68 | ||||||
2.AffiliatedCompany | |||||||||||
ShenzhenHuiyanExpressway | 196,197,198.21 | 34,356,558.66 | 230,553,756.87 | ||||||||
GuangdongJiangzhongExpresswayCo.,.Ltd. | 173,502,304.11 | 11,806,234.72 | 9,983,895.07 | 175,324,643.76 | |||||||
GanzhouKangdaExpressway | 208,768,922.86 | 32,216,095.66 | 21,000,000.00 | 219,985,018.52 | |||||||
GanGanzhouGankangExpressway | 204,404,703.35 | 5,591,207.36 | 209,995,910.71 | ||||||||
GuangdongYuekeTechnologyPettyLoanCo.,Ltd. | 215,548,332.90 | 15,134,350.84 | 10,989,125.47 | 219,693,558.27 | |||||||
GuoyuanSecuritiesCo.,Ltd. | 807,040,587.43 | 15,703,921.74 | -20,400,286.56 | -5,404.45 | 11,940,297.90 | 790,398,520.26 | |||||
Subtotal | 1,805,462,048.86 | 114,808,368.98 | -20,400,286.56 | -5,404.45 | 53,913,318.44 | 1,845,951,408.39 | |||||
Total | 3,047,275,000.00 | 463,873,066.20 | -20,400,286.56 | 26,705,215.55 | 371,808,025.12 | 3,145,644,970.07 |
Othernote
10.Investmentproperty
(1)Investmentpropertyadoptedthecostmeasurementmode
√Applicable□Notapplicable
InRMB
Items | Housesandbuildings | Landuseright | Constructioninprogress | Total |
I.Originalvalue | ||||
1.Openingbalance | 12,664,698.25 | 12,664,698.25 | ||
2.Increasedamountoftheperiod | 2,971,831.10 | 2,971,831.10 | ||
(1)Outsourcing | ||||
(2)Inventory,FixedassetsandConstructionprojectinto | 2,971,831.10 | 2,971,831.10 | ||
(3)Enterpriseconsolidation |
3.Decreasedamountoftheperiod |
(1)Disposal |
(2)OtherOut |
4.Closingbalance | 12,664,698.25 | 2,971,831.10 | 15,636,529.35 | |
II.Accumulateddepreciationaccumulatedamortization | ||||
1.Openingbalance | 9,908,940.57 | 9,908,940.57 | ||
2.Increasedamountoftheperiod | 464,213.40 | 1,684,367.84 | 2,148,581.24 | |
(1)Withdrawaloramortization | 464,213.40 | 36,784.68 | 500,998.08 | |
(2)Fixedassetsreclassificationtransfer | 1,647,583.16 | 1,647,583.16 | ||
3.Decreasedamountoftheperiod | ||||
(1)Disposal | ||||
(2)OtherOut |
4.Closingbalance | 10,373,153.97 | 1,684,367.84 | 12,057,521.81 | |
III.Impairmentprovision | ||||
1.Openingbalance | ||||
2.Increasedamountoftheperiod | ||||
(1)Withdrawal |
Items | Housesandbuildings | Landuseright | Constructioninprogress | Total |
3.Decreasedamountoftheperiod |
(1)Disposal |
(2)OtherOut |
4.Closingbalance | ||||
IV.Bookvalue | ||||
1.Closingbookvalue | 2,291,544.28 | 1,287,463.26 | 3,579,007.54 | |
2.Openingbook | 2,755,757.68 | 2,755,757.68 |
(2)Investmentpropertyadoptedfairvaluemeasurementmode
□Applicable√Notapplicable
(3)Detailsofinvestmentpropertyfailedtoaccomplishcertificationofproperty
InRMB
Items | Bookbalue | Reason |
Transportationandotherancillaryfacilities | 1,587,844.98 | Transportationandotherancillaryfacilities,Notaccreditation |
Othernote
11.Fixedassets
InRMB
Items | Year-endbalance | Year-beginningbalance |
Fixedassets | 7,600,046,319.91 | 8,505,434,890.71 |
Total | 7,600,046,319.91 | 8,505,434,890.71 |
(1)Listoffixedassets
InRMB
Items | GuangfoExpressway | FokaiExpressway | JingzhuExpresswayGuangzhusection | Houseandbuildings | Machineryequipment | Transportationequipment | Electricityequipmentandother | Total |
I.Originalprice | ||||||||
1.Openingbalance | 1,460,270,190.66 | 8,947,295,870.80 | 5,130,574,408.53 | 351,864,147.46 | 126,486,080.83 | 60,529,297.78 | 640,530,500.31 | 16,717,550,496.37 |
2.Increasedamountoftheperiod | 44,402,479.10 | -3,779,939.72 | 1,333,386.45 | 26,318,552.25 | 68,274,478.08 | |||
(1)Purchase | 53,235,440.68 | -3,779,939.72 | 1,333,386.45 | 15,622,813.44 | 66,411,700.85 | |||
(2)Transferofprojectunderconstruction | -8,832,961.58 | 10,695,738.81 | 1,862,777.23 | |||||
(3)IncreasedofEnterpriseconsolidation |
3.Decreasedamountoftheperiod | 2,971,831.10 | 332,304,199.42 | 9,266,189.87 | 7,500.00 | 13,117,212.16 | 7,425,369.21 | 365,092,301.76 | |
(1)Disposalorscrap | 332,304,199.42 | 3,524,279.83 | 7,500.00 | 13,117,212.16 | 13,167,279.25 | 362,120,470.66 | ||
(2)OtherOut | 2,971,831.10 | 5,741,910.04 | -5,741,910.04 | 2,971,831.10 | ||||
4.Closingbalance | 1,460,270,190.66 | 8,988,726,518.80 | 4,798,270,209.11 | 342,597,957.59 | 122,698,641.11 | 48,745,472.07 | 659,423,683.35 | 16,420,732,672.69 |
II.Accumulateddepreciation | ||||||||
1.Openingbalance | 1,460,270,190.66 | 3,440,540,410.91 | 2,553,720,215.76 | 224,291,495.10 | 60,384,283.80 | 48,027,809.99 | 424,881,199.44 | 8,212,115,605.66 |
Items | GuangfoExpressway | FokaiExpressway | JingzhuExpresswayGuangzhusection | Houseandbuildings | Machineryequipment | Transportationequipment | Electricityequipmentandother | Total |
2.Increasedamountoftheperiod | 501,266,009.29 | 243,518,482.36 | 13,782,643.27 | 10,770,659.92 | 2,703,051.23 | 35,336,751.07 | 807,377,597.14 | |
(1)Withdrawal | 501,266,009.29 | 243,518,482.36 | 13,782,643.27 | 10,770,659.92 | 2,703,051.23 | 35,336,751.07 | 807,377,597.14 |
3.Decreasedamountoftheperiod | 1,647,583.16 | 171,593,287.96 | 5,740,973.99 | 7,200.00 | 12,311,357.21 | 7,506,447.70 | 198,806,850.02 | |
(1)Disposalorscrap | 171,593,287.96 | 1,264,757.51 | 7,200.00 | 12,311,357.21 | 11,982,664.18 | 197,159,266.86 | ||
1,647,583.16 | 4,476,216.48 | -4,476,216.48 | 1,647,583.16 | |||||
4.Closingbalance | 1,460,270,190.66 | 3,940,158,837.04 | 2,625,645,410.16 | 232,333,164.38 | 71,147,743.72 | 38,419,504.01 | 452,711,502.81 | 8,820,686,352.78 |
II.Accumulateddepreciation | ||||||||
1.Openingbalance | ||||||||
2.Increasedamountoftheperiod | ||||||||
(1)Withdrawal |
3.Decreasedamountoftheperiod |
(1)Disposalorscrap |
4.Closingbalance | ||||||||
IV.Bookvalue | ||||||||
1.Closingbookvalue | 5,048,567,681.76 | 2,172,624,798.95 | 110,264,793.21 | 51,550,897.39 | 10,325,968.06 | 206,712,180.54 | 7,600,046,319.91 | |
2.Openingbook | 5,506,755,459.89 | 2,576,854,192.77 | 127,572,652.36 | 66,101,797.03 | 12,501,487.79 | 215,649,300.87 | 8,505,434,890.71 |
⑵Temporarilyidlefixedassets
Nil
⑶Fixedassetsthroughfinancialleasing
Nil
⑷Tenancyoffixedassetsthroughoperatinglease
Nil
⑸Detailsoffixedassetsfailedtoaccomplishcertificationofproperty
InRMB
Items | Bookvalue | Reason |
Houseandbuildings | 83,230,578.60 | Transportationandotherancillaryfacilities,Notaccreditation |
Othernote
(6)Liquidationoffixedassets
Nil
12.Projectunderconstruction
InRMB
Items | Year-endbalance | Year-beginningbalance |
Projectunderconstruction | 1,087,923,869.63 | 356,062,655.95 |
Engineeringmaterial | 1,549,556.00 | 1,549,556.00 |
Total | 1,089,473,425.63 | 357,612,211.95 |
(1)Projectunderconstruction
InRMB
Items | Year-endbalance | Year-beginningbalance | ||||
Bookbalance | Provisionfordevaluation | Bookvalue | Bookbalance | Provisionfordevaluation | Bookvalue | |
SanbaoToShuikouExpansionproject | 1,052,834,193.16 | 1,052,834,193.16 | 347,299,458.95 | 347,299,458.95 | ||
XiebianToSanbaoExpansionproject | ||||||
XiebianToSanbaoOverhaulproject | ||||||
BridgedeckpavementprojectofhailongBridge | 1,382,928.49 | 1,382,928.49 | 155,000.00 | 155,000.00 | ||
MinzhongServiceareareconstructionproject | 18,210,698.73 | 18,210,698.73 | ||||
Urbantollstationproject | 5,008,642.53 | 5,008,642.53 | ||||
Oddproject | 10,487,406.72 | 10,487,406.72 | 8,608,197.00 | 8,608,197.00 | ||
Total | 1,087,923,869.63 | 1,087,923,869.63 | 356,062,655.95 | 356,062,655.95 |
(2)Changesofsignificantconstructioninprogress
InRMB
Nameofproject | Budget | Openingbalance | Increase | Transferredtofixedassets | Otherdecrease | Endbalance | Proportion% | Projectprocess | Capitalizationofinterest | Including:capitalizationofInterestthisperiod | Capitalizationofinterestrate(%) | Sourceoffunding |
SanbaoToShuikouExpansionproject | 3,426,206,700.00 | 347,299,458.95 | 705,534,734.21 | 1,052,834,193.16 | 43.74% | 43.74% | 44,224,352.01 | 38,289,580.04 | 4.25% | Other | ||
XiebianToSanbaoExpansionproject | 4,002,409,100.00 | -8,837,172.44 | -8,837,172.44 | 100.00% | 100.00% | |||||||
XiebianToSanbaoOverhaulproject | 548,586,600.00 | 4,210.86 | 4,210.86 | 100.00% | 100.00% | |||||||
BridgedeckpavementprojectofhailongBridge | 42,927,400.00 | 155,000.00 | 1,227,928.49 | 1,382,928.49 | 3.22% | 3.22% | Other | |||||
MinzhongServiceareareconstructionproject | 35,500,000.00 | 18,210,698.73 | 18,210,698.73 | 51.30% | 51.30% | Other | ||||||
Urbantollstationproject | 9,382,500.00 | 5,008,642.53 | 5,008,642.53 | 53.38% | 53.38% | Other | ||||||
Oddproject | 8,608,197.00 | 12,574,948.53 | 10,695,738.81 | 10,487,406.72 | Other | |||||||
Total | 8,065,012,300.00 | 356,062,655.95 | 733,723,990.91 | 1,862,777.23 | 1,087,923,869.63 | -- | -- | 44,224,352.01 | 38,289,580.04 | -- |
(3)ProvisionforimpairmentofconstructionprojectsinthecurrentperiodNil
(4)Engineeringmaterial
InRMB
Items | Balanceinyear-end | BalanceYear-beginning | ||||
Bookbalance | Provisionfordevaluation | Bookvalue | Bookbalance | Provisionfordevaluation | Bookvalue | |
Signpost | 1,549,556.00 | 1,549,556.00 | 1,549,556.00 | 1,549,556.00 | ||
Total | 1,549,556.00 | 1,549,556.00 | 1,549,556.00 | 1,549,556.00 |
Othernote:
13.Intangibleassets
(1)Listofintangibleassets
InRMB
Items | Landuseright | Patentright | Non-patentright | Software | Total |
I.Originalprice | |||||
1.Openingbalance | 1,311,658.00 | 27,358,986.21 | 28,670,644.21 | ||
2.Increasedamountoftheperiod | 1,260,147.36 | 1,260,147.36 | |||
(1)Purchase | 1,260,147.36 | 1,260,147.36 | |||
(2)InternalDevelopment | |||||
(3)IncreasedofEnterpriseCombination |
3.Decreasedamountoftheperiod |
(1)Disposal |
4.Closingbalance | 1,311,658.00 | 28,619,133.57 | 29,930,791.57 | |
II.Accumulatedamortization | ||||
1.Openingbalance | 1,311,658.00 | 20,262,551.04 | 21,574,209.04 | |
2.Increasedamountoftheperiod | 2,617,562.05 | 2,617,562.05 | ||
(1)Withdrawal | 2,617,562.05 | 2,617,562.05 |
3.Decreasedamountoftheperiod |
(1)Disposal |
4.Closingbalance | 1,311,658.00 | 22,880,113.09 | 24,191,771.09 | |
III.Impairmentprovision | ||||
1.Openingbalance |
Items | Landuseright | Patentright | Non-patentright | Software | Total |
2.Increasedamountoftheperiod | |||||
(1)Withdrawal |
3.Decreasedamountoftheperiod |
(1)Disposal |
4.Closingbalance | |||
IV.Bookvalue | |||
1.Closingbookvalue | 5,739,020.48 | 5,739,020.48 | |
2.Openingbookvalue | 7,096,435.17 | 7,096,435.17 |
Theintangibleassetsbytheendoftheformationofthecompany'sinternalR&Daccountedoftheproportionofthebalanceofintangibleassets⑵DetailsofLanduserightfailedtoaccomplishcertificationofpropertyNil14.Long-termamortizeexpenses
InRMB
Items | Balanceinyear-begin | Increaseinthisperiod | Amortizedexpenses | Otherloss | Balanceinyear-end |
RentalfeeforGuangzhuNorthSectionsportground | 1,230,700.00 | 8,918.12 | 1,221,781.88 | ||
Advertisingcolumnpropertyinsurance | 92,768.83 | 92,768.83 | |||
Total | 92,768.83 | 1,230,700.00 | 101,686.95 | 1,221,781.88 |
Othernote
15.Deferredincometaxassets/deferredincometaxliabilities(1)Deferredincometaxassetshadnotbeenoff-set
InRMB
Items | Balanceinyear-end | BalanceYear-beginning | ||
Deductibletemporarydifference | Deferredincometaxassets | Deductibletemporarydifference | Deferredincometaxassets | |
Deductibleloss | 1,281,389,685.73 | 320,347,421.43 | 773,658,624.73 | 193,414,656.18 |
Amortizationofintangibleassets | 626,016.08 | 156,504.02 | 995,735.86 | 248,933.97 |
Assetvaluationappreciation | 507,924,437.36 | 126,981,109.34 | 566,541,740.54 | 141,635,435.13 |
Total | 1,789,940,139.17 | 447,485,034.79 | 1,341,196,101.13 | 335,299,025.28 |
(2)Deferredincometaxliabilitieshadnotbeenoff-set
InRMB
Items | Balanceinyear-end | BalanceYear-beginning | ||
Deductibletemporarydifference | Deferredincometaxliabilities | Deductibletemporarydifference | Deferredincometaxliabilities | |
Changesinfairvalueofavailableforsalefinancialassets | 352,882,416.00 | 88,220,604.00 | 435,221,646.40 | 108,805,411.60 |
Deductibletemporarydifferencesintheformationofassetimpairment | 469,807,142.34 | 117,451,785.59 | 607,306,748.61 | 151,826,687.15 |
Total | 822,689,558.34 | 205,672,389.59 | 1,042,528,395.01 | 260,632,098.75 |
(3)Detailsofunrecognizeddeferredtaxassets
InRMB
Items | Balanceinyear-end | BalanceYear-beginning |
Deductibletemporarydifferences | 89,748,845.07 | 92,288,987.75 |
Deductiblelosses | 8,796,952.44 | 11,374,068.41 |
Total | 98,545,797.51 | 103,663,056.16 |
Note:Becauseitisuncertainthatwhetherthewholly-ownedsubsidiary----GuangdongExpresswayTechnologyInvestmentCo.,Ltd.,GuangdongExpresswayCapitalInvestment(Hengqin)Co.,Ltd.,GuangzhouGuangzhuTrafficInvestmentManagementCo.,Ltd.canobtaintaxableincomeinthefuture,thedeductibletemporarydifferencesofthispartarenotrecognizedasdeferredtaxassets.(4)Deductiblelossesoftheun-recognizeddeferredincometaxassetwillexpireinthefollowingyears
InRMB
Year | Balanceinyear-end | BalanceYear-beginning | Remark |
2018 | 4,932,481.22 | ||
2019 | 3,456,570.30 | 3,456,570.30 | |
2020 | |||
2021 | |||
2022 | 2,121,083.91 | 2,985,016.89 | |
2023 | 3,219,298.23 | ||
Total | 8,796,952.44 | 11,374,068.41 | -- |
Othernote:
16.OtherNon-currentassets
InRMB
Items | Balanceinyear-end | BalanceYear-beginning |
Prepaidfixedassetsengineeringfees | 49,890,408.41 | 39,871,644.68 |
Advancesoftwarepayment | 268,155.00 | |
Prepaidbusinesstax | 518,773.08 | 566,594.58 |
Deductibleimporttax | 49,385,484.09 | |
Total | 99,794,665.58 | 40,706,394.26 |
Othernote:
17.Notespayableandaccountpayable
InRMB
Items | Balanceinyear-end | BalanceYear-beginning |
Accountpayable | 203,779,190.74 | 266,934,026.99 |
Total | 203,779,190.74 | 266,934,026.99 |
(1)ClassificationofnotesPayable
Nil
(2)Accountpayable
InRMB
Items | Balanceinyear-end | BalanceYear-beginning |
Within1year(Including1year) | 84,200,629.90 | 104,264,020.37 |
1-2years(including2years) | 8,911,247.40 | 135,095,312.76 |
2-3years(including3years) | 84,119,053.06 | 16,838,384.14 |
Over3years | 26,548,260.38 | 10,736,309.72 |
Total | 203,779,190.74 | 266,934,026.99 |
(3)Significantpayableagingmorethan1year
InRMB
Items | Balanceinyear-end | Reason |
HeshanLandandresourcesBureau | 38,186,893.60 | Unsettled |
FoshanLandandresourcesBureau | 30,507,598.21 | Unsettled |
GuangdongHighwayConstructionCo.,Ltd. | 25,630,651.00 | Unsettled |
GuangdongExpresswayCo.,Ltd. | 8,746,491.18 | Unsettled |
ThethirdResearchInstituteoftheMinistryofPublicSecurity | 6,066,090.40 | Unsettled |
DongguanYongyaoPhotoelectricityTechnologyCo.,Ltd. | 2,328,261.50 | Unsettled |
LuochunStreetOffice(FinanceOffice) | 1,043,431.50 | Unsettled |
Total | 112,509,417.39 | -- |
Othernote:
18.Prepaymentreceived
(1)ListofPrepaymentreceived
InRMB
Items | Balanceinyear-end | BalanceYear-beginning |
Within1year(Including1year) | 516,610.46 | 2,413,914.18 |
1-2years(Including2years) | 459,858.97 | |
2-3years(Including3years) | 419,601.44 | |
Over3years | 11,103,496.11 | 11,982,340.75 |
Total | 12,039,708.01 | 14,856,113.90 |
(2)Significantadvancefromcustomersagingoveroneyear
InRMB
Items | Balanceinyear-end | Unpaid/Uncarryoverreason |
GuangzhouHuanlongExpresswayCo.,Ltd. | 9,652,029.86 | Landrentisnotinthesettlementperiod |
GuanghdongXinleTechnologyDevelopmentCo.,Ltd. | 1,322,993.29 | TheRentalisnotinthesettlementperiod |
Total | 10,975,023.15 | -- |
⑶ThecompletionofthefinalconstructioncontracthasbeencompletedandtheprojectisnotcompletedNil19.PayableEmployeewage
(1)PayableEmployeewage
InRMB
Items | Year-beginningbalance | Increaseinthecurrentperiod | Decreaseinthecurrentperiod | Year-endbalance |
I.Short-termcompensation | 11,334,182.16 | 312,445,957.81 | 310,657,702.80 | 13,122,437.17 |
II.Post-employmentbenefits-definedcontributionplans | 33,274,962.97 | 33,274,962.97 | ||
III.Dismisswelfare | 142,050.00 | 142,050.00 | ||
Total | 11,334,182.16 | 345,862,970.78 | 344,074,715.77 | 13,122,437.17 |
(2)Short-termRemuneration
InRMB
Items | Year-beginningbalance | Increaseinthecurrentperiod | Decreaseinthecurrentperiod | Year-endbalance |
1.Wages,bonuses, | 1,630,363.29 | 232,214,558.56 | 233,216,358.36 | 628,563.49 |
allowancesandsubsidies | ||||
2.Employeewelfare | 21,683,497.37 | 21,683,497.37 | ||
3.Socialinsurancepremiums | 18,198,699.81 | 18,198,699.81 | ||
Including:Medicalinsurance | 13,916,477.21 | 13,916,477.21 | ||
Workinjuryinsurance | 537,037.33 | 537,037.33 | ||
Maternityinsurance | 1,419,032.27 | 1,419,032.27 | ||
Supplementarymedicalinsurance | 2,326,153.00 | 2,326,153.00 | ||
4.Publicreservesforhousing | 27,595,125.52 | 27,595,125.52 | ||
5.Unionfundsandstaffeducationfee | 9,563,059.92 | 10,124,509.86 | 7,869,701.04 | 11,817,868.74 |
8.Other | 140,758.95 | 2,629,566.69 | 2,094,320.70 | 676,004.94 |
Total | 11,334,182.16 | 312,445,957.81 | 310,657,702.80 | 13,122,437.17 |
(3)Listofdrawingscheme
InRMB
Items | BalanceYear-beginning | Increaseinthisperiod | Payableinthisperiod | Balanceinyear-end |
1.Basicold-ageinsurancepremiums | 22,193,513.59 | 22,193,513.59 | ||
2.Unemploymentinsurance | 844,560.24 | 844,560.24 | ||
3.Enterpriseannuitypayment | 10,236,889.14 | 10,236,889.14 | ||
Total | 33,274,962.97 | 33,274,962.97 |
Othernote:
20.TaxPayable
InRMB
Items | Balanceinyear-end | BalanceYear-beginning |
VAT | 13,473,944.70 | 14,248,594.77 |
EnterpriseIncometax | 85,375,209.49 | 404,574,001.58 |
IndividualIncometax | 3,551,727.77 | 6,572,617.38 |
CityConstructiontax | 793,960.96 | 1,022,178.29 |
Landusetax | 200,454.00 | 1,050,431.75 |
Propertytax | 155,413.34 | 253,014.94 |
Educationsubjoin | 371,885.57 | 466,899.60 |
LocalityEducationsubjoin | 233,892.04 | 297,234.60 |
Stamptax | 26,304.47 | 63,071.56 |
Other | 15,953.72 | 99,349.82 |
Total | 104,198,746.06 | 428,647,394.29 |
Othernote:
21.Otheraccountspayable
InRMB
Items | Balanceinyear-end | BalanceYear-beginning |
Interestpayable | 8,971,576.57 | 8,494,355.93 |
Dividendpayable | 17,191,142.23 | 26,840,792.20 |
Otheraccountpayable | 165,091,746.04 | 86,663,237.94 |
Total | 191,254,464.84 | 121,998,386.07 |
(1)Interestpayable
InRMB
Items | Balanceinyear-end | BalanceYear-beginning |
Paytheinterestforlong-termloansbyinstallments. | 7,832,311.57 | 8,494,355.93 |
Interestpayableonentrustedloans | 1,139,265.00 | |
Total | 8,971,576.57 | 8,494,355.93 |
-ParticularsofsignificantoverdueunpaidinterestNil
(2)Dividendspayable
InRMB
Items | Balanceinyear-end | BalanceYear-beginning |
Commonstockdividends | 17,191,142.23 | 14,340,792.20 |
XinyueHighwayConstructionCo.,Ltd. | 12,500,000.00 | |
Total | 17,191,142.23 | 26,840,792.20 |
Note:Includingsignificantunpaiddividendspayableoveroneyear,theunpaidreasonshallbedisclosed:
Finaldividendpayable14,338,121.94yuanformorethanayearinunpaiddividendstoshareholdersovertheyearwasmainlyduetonon-paymentofshareholderdividendsdidnotprovideinformationoninterest-bearingbank,didnotsharereformofshareholderstoreceivedividendsorprovideapplicationtoreceivedividendsthebankinformationisincorrect,resultinginfailuretopayadividendorrefund.
(3)Otheraccountspayable
(1)Otheraccountspayablelistedbynatureoftheaccount
InRMB
Items | Year-endbalance | Year-Beginningbalance |
Qualityguaranteefund | 67,696,625.43 | 36,254,269.95 |
Deposit | 1,876,467.00 | 1,676,667.00 |
Items | Year-endbalance | Year-Beginningbalance |
Other | 50,518,653.61 | 48,732,300.99 |
Borrowing | 45,000,000.00 | |
Total | 165,091,746.04 | 86,663,237.94 |
(2)Othersignificantaccountspayablewithagingoveroneyear
InRMB
Items | Closingbalance | Unpaid/un-carryoverreason |
GuangdongChangdaEngineeringCo.,Ltd | 2,494,464.08 | ProjectQualityguarantees/BidGruarantees/Deposit |
GuangdongNengdaGradeHighwayMaintenanceCo.,Ltd. | 2,181,568.50 | ProjectQualityGuarantees,Projectperformancefund |
GuangdongGuanyueluqiaoCo.,Ltd. | 1,897,611.12 | ProjectQualityguarantees,Deposit |
ChinaRailway18BureauGroupCo.,Ltd. | 1,759,428.85 | ProjectQualityguarantees |
DongguanYueyuOptoelectronicTechnologyCo.,Ltd. | 1,534,850.00 | ProjectQualityguarantees |
GuangdongXinyueTrafficInvestmentCo.,Ltd. | 1,505,467.30 | ProjectQualityguarantees |
Total | 11,373,389.85 | -- |
Othernote
22.Non-currentliabilitiesduewithin1year
InRMB
Items | Balanceyear-end | Year-beginningbalance |
Long-termloansduewithin1year | 2,498,480,000.00 | 1,218,610,000.00 |
Total | 2,498,480,000.00 | 1,218,610,000.00 |
Othernote:
23.Long-termloan
(1)Categoryoflong-termloan
InRMB
Items | Balanceyear-end | Year-beginningbalance |
Pledgeloan | 251,050,000.00 | 199,000,000.00 |
Guaranteedloan | 375,000,000.00 | 1,125,000,000.00 |
Creditloan | 2,356,990,000.00 | 3,420,170,000.00 |
Other | 2,983,040,000.00 | 4,744,170,000.00 |
Othernotesincludinginterestraterange:
Theinterestrateofpledgeloanis4.275%-4.75%,theguaranteedloanrateis5.6%,andthecreditloanrateis4.20%-4.90%.
24.Long-termpayable
InRMB
Items | Balanceyear-end | Year-beginningbalance |
Long-termpayable | 38,022,210.11 | 2,022,210.11 |
Total | 38,022,210.11 | 2,022,210.11 |
(1)Long-termpayablelistedbynatureoftheaccount
InRMB
Items | Balanceyear-end | Year-beginningbalance |
Non-operatingassetpayable | 2,022,210.11 | 2,022,210.11 |
GuangdongJiangzhongExpresswayCo.,Ltd.Entrustedloan | 36,000,000.00 |
Othernote:
(2)Specialpayable
Nil
25.Stockcapital
InRMB
BalanceYear-beginning | BalanceYear-beginning | Balanceyear-end | |||||
Issuingofnewshare | Bonusshares | Transferredfromreserves | Other | Subtotal | |||
Totalofcapitalshares | 2,090,806,126.00 | 2,090,806,126.00 |
Othernote:
26.Capitalreserves
InRMB
Items | Year-beginningbalance | Increaseinthecurrentperiod | Decreaseinthecurrentperiod | Year-endbalance |
Sharepremium | 2,508,408,342.99 | 2,508,408,342.99 | ||
Othercapitalreserves | 1,661,406.77 | 26,705,215.55 | 28,366,622.32 | |
Total | 2,510,069,749.76 | 26,705,215.55 | 2,536,774,965.31 |
-Thesituationofchangeinthecurrentcapitalreserveisasfollows:
Thecapitalreserveinthisperiodwasincreased26,710,620.00yuanduetothechangeoftheowner'sequityofthejoint-stockcompany---GuangdongGuanghuiExpresswayCo.,Ltd.andwasdecreased5,404.45yuanduetothechangeofowner'sequityofthejoint-stockcompany----GuoyuansecuritiesCo.,Ltd.
27.Othercomprehensiveincome
InRMB
Items | Year-beginningbalance | Amountofcurrentperiod | Year-endbalance | ||||
Amountfortheperiodbeforeincometax | Less:Previouslyrecognizedinprofitorlossinothercomprehensiveincome | Less:Incometax | After-taxattributabletotheparentcompany | After-taxattributabletominorityshareholders | |||
1.Othercomprehensiveincomewillbereclassifiedintoincomeorlossinthefuture | 0.00 | ||||||
Including:remeasurementofnetassetsornetliabilitiesofdefinedbenefitplans | 0.00 | ||||||
Shareofothercomprehensiveincomeoftheinvesteethatcannotbetransferredtoprofitorlossaccountedforusingtheequitymethod | 0.00 | ||||||
2.Othercomprehensiveincomereclassifiabletoprofitorlossinsubsequentperiods | 327,263,824.17 | -102,739,516.96 | -20,584,807.60 | -82,154,709.36 | 245,109,114.81 | ||
Including:Shareofothercomprehensiveincomeoftheinvesteethatcannotbetransferredtoprofitorlossaccountedforusingtheequitymethod | 847,589.37 | -20,400,286.56 | -20,400,286.56 | -19,552,697.19 | |||
Gainsandlossesfromchangesinfairvalueoffinancialassetsavailableforsale | 326,416,234.80 | -82,339,230.40 | -20,584,807.60 | -61,754,422.80 | 264,661,812.00 | ||
Held-to-maturityinvestmentthatisreclassifiedasfinancialassetsavailableforsale | 0.00 | ||||||
Effectivegains(losses)arisingfromcashflowhedginginstruments | 0.00 | ||||||
Translationdifferencesof | 0.00 |
financialstatementsdenominated | |||||||
Totalofothercomprehensiveincome | 327,263,824.17 | -102,739,516.96 | -20,584,807.60 | -82,154,709.36 | 0.00 | 245,109,114.81 |
Othernotes,includingtheadjustmentoftherecognitionofinitialamountofeffectivepartofthecashflowhedginggainsandlossestransferintoarbitrageditems:
Theinitialbalanceandtheendingbalancerefertoothercomprehensiveincomesinthebalancesheet.Theinitialbalance+othercomprehensiveincomesbelongtotheparentcompanyaftertaxes=theendingbalance.Theoccurrenceamountintheperiodreferstoothercomprehensiveincomesintheprofitstatement,andtheoccurrenceamountbeforeincometaxintheperiod–Othercomprehensiveincomerecordedintheearlierstageandtransferredintotheprofitsandlossesinthecurrentperiod–incometaxes=othercomprehensiveincomesbelongtotheparentcompanyaftertaxes+othercomprehensiveincomesbelongtotheminorityshareholdersaftertaxes.28.Surplusreserve
InRMB
Items | Year-beginningbalance | Increaseinthecurrentperiod | Decreaseinthecurrentperiod | Year-endbalance |
Statutorysurplusreserve | 544,821,130.03 | 230,581,431.32 | 775,402,561.35 | |
Total | 544,821,130.03 | 230,581,431.32 | 775,402,561.35 |
Note:
29.Retainedprofits
InRMB
Items | Amountofthisperiod | Amountoflastperiod |
Beforeadjustments:Retainedprofitsinlastperiodend | 3,550,110,288.49 | 2,920,563,328.27 |
Afteradjustments:Retainedprofitsattheperiodbeginning | 3,550,110,288.49 | 2,920,563,328.27 |
Add:Netprofitbelongingtotheowneroftheparentcompany | 1,677,028,179.18 | 1,509,922,398.70 |
Less:Statutorysurplusreserve | 230,581,431.32 | 177,864,580.14 |
Commonstockdividendpayable | 1,057,947,899.76 | 702,510,858.34 |
Retainedprofitattheendofthisterm | 3,938,609,136.59 | 3,550,110,288.49 |
Asregardsthedetailsofadjustedthebeginningundistributedprofits(1)AstheretroactiveadjustmentonEnterpriseAccountingStandardsanditsrelatednewregulations,theaffectedbeginningundistributedprofitsareRMB0.00.(2)Asthechangeoftheaccountingpolicy,theaffectedbeginningundistributedprofitsareRMB0.00.
(3)Asthecorrectionofsignificantaccountingerror,theaffectedbeginningundistributedprofitsareRMB0.00.(4)Asthechangeofconsolidationscopecausedbythesamecontrol,theaffectedbeginningundistributedprofitsareRMB0.00.(5)OtheradjustmentofthetotalaffectedbeginningundistributedprofitsareRMB0.00.30.Operationincomeandoperationcost
InRMB
Items | Amountofthisperiod | Amountoflastperiod | ||
Income | Cost | Income | Cost | |
Mainoperation | 3,174,342,835.65 | 1,250,876,481.00 | 3,038,375,611.56 | 1,220,538,502.82 |
Otheroperation | 44,351,248.29 | 28,218,590.32 | 50,679,787.65 | 26,583,850.53 |
Total | 3,218,694,083.94 | 1,279,095,071.32 | 3,089,055,399.21 | 1,247,122,353.35 |
31.Businesstaxandsubjoin
InRMB
Items | Amountofthisperiod | Amountoflastperiod |
Urbanconstructiontax | 6,257,072.93 | 6,251,001.50 |
Educationsurcharge | 2,943,233.19 | 2,910,849.26 |
Propertytax | 2,510,760.22 | 2,078,526.94 |
Landusetax | 1,744,091.50 | 1,824,262.72 |
Businesstax | 62,845.97 | 52,777.05 |
LocalityEducationsurcharge | 1,961,948.53 | 1,940,251.33 |
Defendexpense | 207.08 | 384.04 |
Stamptax | 370,956.91 | 644,841.06 |
Vehicleusetax | 62,306.65 | 136,920.13 |
Culturalconstructionexpenses | 53,046.83 | 160,387.42 |
Other | 20,796.58 | |
Total | 15,987,266.39 | 16,000,201.45 |
Othernote:
32.Administrativeexpenses
InRMB
Items | Amountofthisperiod | Amountoflastperiod |
Wage | 124,523,644.86 | 122,014,401.26 |
DepreciationandAmortization | 10,846,662.10 | 13,686,060.04 |
Lowconsumablesamortization | 669,751.05 | 858,414.10 |
Travelexpenses | 951,373.50 | 699,038.04 |
Officeexpenses | 7,113,887.43 | 6,768,155.85 |
Leasedexpenses | 11,350,401.58 | 10,987,865.79 |
Thefeeforhiringagency | 3,700,667.16 | 3,938,990.41 |
Consultationexpenses | 4,243,970.38 | 3,359,297.28 |
Listingfee | 903,551.56 | 558,490.56 |
Informationcostandmaintenancefee | 1,254,978.71 | 2,039,350.41 |
Other | 17,833,260.35 | 14,901,645.85 |
Total | 183,392,148.68 | 179,811,709.59 |
Othernote:
33.R&Dcost
InRMB
Items | Amountofthisperiod | Amountoflastperiod |
Laborcost | 1,236,840.49 | 5,810,338.41 |
Directinputfee | 1,610,228.69 | |
Depreciationexpenses | 26,107.33 | 64,922.48 |
Commissionedresearch&development | 349,207.54 | |
Other | 55,396.19 | 1,939,169.26 |
Total | 1,318,344.01 | 9,773,866.38 |
Othernote:
34.Financialexpenses
InRMB
Items | Amountofthisperiod | Amountoflastperiod |
Interestexpenses | 237,334,325.27 | 276,594,308.94 |
Depositinterestincome(-) | -31,889,543.71 | -33,696,479.00 |
ExchangeIncomeandloss(Gain-) | 2,348,188.17 | -1,522,372.61 |
Bankcommissioncharge | 4,799,814.01 | 5,931,293.75 |
Total | 212,592,783.74 | 247,306,751.08 |
Othernote:
35.Assetimpairmentloss
InRMB
Items | Amountofthisperiod | Amountoflastperiod |
I.Baddebtloss | -1,232,955.42 | 415,340.17 |
III.Impairmentlossesonfinancialassetsavailableforsale | 226,800.00 | |
Total | -1,006,155.42 | 415,340.17 |
Othernote:
36.Othergains
InRMB
Items | Amountofthisperiod | Amountoflastperiod |
Maternityallowance | 599,573.55 | |
Returnofpersonaltaxhandingfee | 295,702.41 | |
Stablejobsubsidies | 217,952.36 | |
Total | 1,113,228.32 |
37.Investmentincome
InRMB
Items | Amountofthisperiod | Amountoflastperiod |
Long-termequityinvestmentincomebyequitymethod | 463,873,066.20 | 423,940,445.45 |
Holdtheinvestmentincomeduringfromavailable-for-salefinancialassets | 43,786,617.76 | 24,327,921.74 |
Total | 507,659,683.96 | 448,268,367.19 |
Othernote:
38.Assetsdisposalincome
InRMB
Source | Amountofthisperiod | Amountoflastperiod |
Incomefromdisposaloffixedassets | 66,431,966.75 |
39.Non-Operationincome
InRMB
Items | Amountofthisperiod | Amountoflastperiod | Recordedintheamountofthenon-recurringgainsandlosses |
GovernmentSubsidy | 385,932.17 |
Roadpropertyclaimincome | 1,646,322.85 | 3,539,319.69 | 1,646,322.85 |
Otherincome(Notes) | 2,529,479.09 | 61,854,564.85 | 2,529,479.09 |
Total | 4,175,801.94 | 65,779,816.71 | 4,175,801.94 |
-Governmentsubsidyreckonedintocurrentgains/losses
InRMB
Subsidyitems | Issuingbody | Issuingreason | Nature | Whethertheimpactofsubsidiesonthecurrentprofitandloss | Whetherspecialsubsidies | Amountofcurrentperiod | Amountofpreviousperiod | Assets-related/income–related |
Researchon"BlueChannel"Projectbasedon"InternetPlus"RecognitionandPaymentTechnology | 120,000.00 | Relatedtoincome | ||||||
Stablejobsubsidies | 265,932.17 | Relatedtoincome |
Othernote:
40.Non-Operationexpense
InRMB
Items | Amountofcurrentperiod | Amountofpreviousperiod | Theamountofnon-operatinggains&losses |
Lossofdestructionofassets | 3,368,846.52 | 2,926,481.49 | 3,368,846.52 |
Fine | 382,973.69 | 465,323.21 | 382,973.69 |
Other | 5,228,178.28 | 3,289,687.56 | 5,228,178.28 |
Total | 8,979,998.49 | 6,681,492.26 | 8,979,998.49 |
Othernote:
41.Incometaxexpense
(1)Listsofincometaxexpense
InRMB
Items | Amountofcurrentperiod | Amountofpreviousperiod |
Currentincometaxexpense | 340,935,816.06 | 636,893,843.60 |
Deferredincometaxexpense | -146,560,911.07 | -451,125,662.19 |
Total | 194,374,904.99 | 185,768,181.41 |
(2)Adjustmentprocessofaccountingprofitandincometaxexpense
InRMB
Items | Amountofcurrentperiod |
Totalprofits | 2,097,715,307.70 |
Currentincometaxexpenseaccountedbytaxandrelevantregulations | 524,428,826.62 |
Influenceofincometaxbeforeadjustment | -3,267,087.41 |
Influenceofnontaxableincome | -372,925,462.18 |
Impactofnon-deductiblecosts,expensesandlosses | 6,621,587.60 |
Affecttheuseofdeferredtaxassetsearlyunconfirmed | -394,522.89 |
deductiblelosses | |
Thecurrentperioddoesnotaffectthedeferredtaxassetsrecognizeddeductibletemporarydifferencesordeductibleloss | 804,824.56 |
Other | 39,106,738.69 |
Incometaxexpense | 194,374,904.99 |
Othernote
42.ItemsofCashflowstatement
(1)Othercashreceivedfrombusinessoperation
InRMBNote:
(2)Othercashpaidrelatedtooperatingactivities
InRMBNote:
(3)OtherCashreceivedrelatedtoinvestmentactivities
InRMB
Items | Amountofcurrentperiod | Amountofpreviousperiod |
Jiujiangbridgetoreceivecompensation | 59,995,667.68 | |
Total | 0.00 | 59,995,667.68 |
Note:
(4)OtherCashreceivedrelatedtoFinancingactivities
InRMB
Items | Amountofcurrentperiod | Amountofpreviousperiod |
Interestdiscount | 10,277,777.78 | |
Total | 0.00 | 10,277,777.78 |
Note:
Items | Amountofcurrentperiod | Amountofpreviousperiod |
Newworkreceivedtollincome | 1,058,049.17 | 7,830,682.35 |
Interestincome | 31,889,543.71 | 33,696,479.00 |
Unitcurrentaccount | 63,672,701.77 | 59,072,397.31 |
Total | 96,620,294.65 | 100,599,558.66 |
Items | Amountofcurrentperiod | Amountofpreviousperiod |
Managementexpense | 45,920,848.02 | 48,176,229.85 |
Unitcurrentaccount | 28,708,531.18 | 45,078,758.91 |
Networkreceivedtollincome | 276,547.72 | 1,432,404.59 |
Total | 74,905,926.92 | 94,687,393.35 |
43.SupplementInformationforcashflowstatement(1)SupplementInformationforcashflowstatement
InRMB
SupplementInformation | Amountofcurrentperiod | Amountofpreviousperiod |
I.Adjustingnetprofittocashflowfromoperatingactivities | -- | -- |
Netprofit | 1,903,340,402.71 | 1,710,223,687.42 |
Add:Impairmentlossprovisionofassets | -1,006,155.42 | 415,340.17 |
Depreciationoffixedassets,oilandgasassetsandconsumablebiologicalassets | 807,609,480.04 | 823,038,155.84 |
Amortizationofintangibleassets | 2,526,983.05 | 3,128,134.31 |
AmortizationofLong-termdeferredexpenses | 101,686.95 | 1,671,197.24 |
Lossondisposaloffixedassets,intangibleassetsandotherlong-termdeferredassets | -66,431,966.75 | |
Fixedassetsscraploss | 3,258,828.50 | 2,745,683.68 |
Financialcost | 249,543,624.55 | 275,071,936.33 |
Lossoninvestment | -507,659,683.96 | -448,268,367.19 |
Decreaseofdeferredincometaxassets | -112,186,009.51 | -324,488,702.34 |
Increasedofdeferredincometaxliabilities | -34,374,901.56 | -17,831,548.25 |
Decreaseofinventories | -81,017.91 | 323,888.89 |
Deceaseofoperatingreceivables | 245,477,300.99 | -44,132,575.54 |
IncreasedofoperatingPayable | -574,132,993.64 | 213,093,094.79 |
Netcashflowsarisingfromoperatingactivities | 1,915,985,578.04 | 2,194,989,925.35 |
II.Significantinvestmentandfinancingactivitiesthatwithoutcashflows: | -- | -- |
3.Movementofcashandcashequivalents: | -- | -- |
Endingbalanceofcash | 2,123,303,796.32 | 2,363,042,700.42 |
Less:Beginningbalanceofcashequivalents | 2,363,042,700.42 | 2,603,279,644.25 |
Netincreaseofcashandcashequivalents | -239,738,904.10 | -240,236,943.83 |
(2)NetCashpaidofobtainingthesubsidiary
Nil
(3)NetCashreceiveofdisposalofthesubsidiary
Nil
(4)Compositionofcashandcashequivalents
InRMB
Items | Balanceinyear-end | Balanceinyear-Beginning |
I.Cash | 2,123,303,796.32 | 2,363,042,700.42 |
Ofwhich:Cashinstock | 53,211.49 | 66,065.04 |
Banksavingscouldbeusedatanytime | 2,122,585,810.07 | 2,362,279,050.70 |
Othermonetarycapitalcouldbeusedatanytime | 664,774.76 | 697,584.68 |
III.Balanceofcashandcashequivalentsattheperiodend | 2,123,303,796.32 | 2,363,042,700.42 |
Othernote:
44.Theassetswiththeownershiporuserightrestricted
InRMB
Items | Bookvalueattheendoftheperiod | Restrictedreason |
Monetaryfund | 1,221,200.00 | Landreclamationfundsinfundescrowaccounts |
Total | 1,221,200.00 | -- |
Othernote:
UptoDecember31,2018,JingzhuExpresswayGuangzhuSectionCo.,Ltd.,thecontrollinggrandchildrencompanyoftheCompany,withthetollcollectionrightofPanyuTangkeng-ZhuhaiJindingsectionprojectinJingzhuexpressway,askedfor449,000,000.00yuanofloanfromGuangzhouWuyangBranchofICBCtoprovidepledgeguarantee(ofwhichthenon-currentdebtbalancewith1-yearexpirationwas100,000,000.00yuan,Inaddition,apledgeguaranteewasprovidedtotheIndustrialandCommercialBankofChinaGuangzhouWuyangSub-branchforaloanof729,000,000.00yuanbythecollateralofthe18.5%rightofchargeoftheBeijing-ZhuhaiExpresswayGuangzhuSectionProject(thebalanceofnon-currentliabilitiesduewithinoneyearwas71,300,000.00yuanandthelong-termloanbalancewas251,050,000.00yuan).45.Foreigncurrencymonetaryitems
(1)ForeigncurrencymonetaryitemsNil(2)Notetooverseaentitiesincluding:forsignificantoverseaentities,shalldisclosemainoperatingplace,recordingcurrencyandselectionbasis,iftherearechangesintorecordingcurrency,shallalsodisclosethereason.□Applicable√NotapplicableVIII.Changesofconsolidationscope1.Enterpriseconsolidationnotunderthesamecontrol
Nil
2.Enterpriseconsolidationnotunderthesamecontrol
Nil
3.CounterpurchaseNil4.ThedisposalofsubsidiaryNil5.OtherreasonsforthechangesincombinationscopeNotestoreasonsforthechangesincombinationscope(Newlyestablishedsubsidiaryandsubsidiaryofliquidation)andrelevantinformation
InAugust2018,GuangdongFokaiExpresswayCo.,Ltd.completedtheindustrialandcommercialcancellation,andobtainedthe“NoticeofApprovalforCancellationRegistration”andthe“NoticeofPermitforCancellationRegistration”.FromAugust2018,GuangdongFokaiExpresswayCo.,Ltd.wasnolongerincludedinthescopeofconsolidatedstatements.6.OtherNilIX.Equityinotherentities1.Equityinsubsidiary(1)Thestructureoftheenterprisegroup
NameofSubsidiary | MainPlacesofOperation | RegistrationPlace | NatureofBusiness | ShareholdingRatio(%) | ObtainingMethod | |
direct | indirect | |||||
GuangfoExpresswayCo.,Ltd. | Guangzhou | Guangzhou | ExpresswayManagement | 75.00% | Underthesamecontrolbusinesscombination | |
GuangdongExpresswayTechnologyInvestmentCo.,Ltd. | Guangzhou | Guangzhou | Investmentintechnicalindustriesandprovisionofrelevant | 100.00% | Investment | |
GuangzhuoGuangzhuTrafficInvestmentManagementCo.,Ltd. | Guangzhou | Guangzhou | Investmentmanagement | 100.00% | Underthesamecontrolbusinesscombination | |
JingzhuExpresswayGuangzhuSectionCo.,Ltd.(Notes) | Zhongshan | Guangzhou | ExpresswayManagement | 20.00% | 55.00% | Underthesamecontrolbusinesscombination |
YuegaoCapitalInvestment(Hengqin)Co.,Ltd. | Guangzhou | Zhuhai | Investmentmanagement | 100.00% | Investment |
Notes:holdingproportioninsubsidiarydifferentfromvotingproportion:NilBasisofholdinghalforlessvotingrightsbutstillbeencontrolledinvesteeandholdingmorethanhalfofthevotingrightsnotbeencontrolledinvestee:Nil
Significantstructureentitiesandcontrollingbasisinthescopeofcombination:NilBasisofdeterminewhethertheCompanyistheagentortheprincipal:NilOthernotes:
JingzhuExpresswayGuangzhuSectionCo.,Ltd.isanon-whollyownedsubsidiaryofGuangzhouGuangzhuTrafficInvestmentManagementCo.,Ltd.
(2)ImportantNon-wholly-ownedSubsidiary
InRMB
NameofSubsidiary | ShareholdingRatioofMinorityShareholders(%) | ProfitorLossOwnedbytheMinorityShareholdersintheCurrentPeriod | DividendsDistributedtotheMinorityShareholdersintheCurrentPeriod | EquityBalanceoftheMinorityShareholdersintheEndofthePeriod |
GuangfoExpresswayCo.,Ltd. | 25.00% | 66,239,599.34 | 53,528,891.62 | 140,004,307.04 |
JingzhuExpresswayGuangzhuSectionCo.,Ltd. | 25.00% | 160,072,624.19 | 144,223,171.04 | 319,595,416.83 |
Holdingproportionofminorityshareholderinsubsidiarydifferentfromvotingproportion
Nil
Othernote:Nil
(3)Themainfinancialinformationofsignificantnotwhollyownedsubsidiary
InRMB
Name | Year-endbalance | Year-beginningbalance | ||||||||||
Currentassets | Non-currentassets | Totalassets | CurrentLiabilities | Non-currentliabilities | Totalliabilities | Currentassets | Non-currentassets | Totalassets | CurrentLiabilities | Non-currentliabilities | Totalliabilities | |
GuangfoExpresswayCo.,Ltd. | 590,663,709.13 | 27,675,485.80 | 618,339,194.93 | 58,321,966.77 | 58,321,966.77 | 544,211,527.04 | 21,454,392.65 | 565,665,919.69 | 56,491,522.41 | 56,491,522.41 | ||
JingzhuExpresswayGuangzhuSectionCo.,Ltd. | 432,281,073.29 | 2,301,876,076.48 | 2,734,157,149.77 | 419,370,011.85 | 1,036,405,470.57 | 1,455,775,482.42 | 168,092,185.25 | 2,692,035,039.19 | 2,860,127,224.44 | 526,412,997.55 | 1,118,730,372.13 | 1,645,143,369.68 |
InRMB
Name | Amountofcurrentperiod | Amountofpreviousperiod | ||||||
Businessincome | Netprofit | TotalComprehensiveincome | Cashflowsfromoperatingactivities | Businessincome | Netprofit | TotalComprehensiveincome | Cashflowsfromoperatingactivities | |
GuangfoExpresswayCo.,Ltd. | 478,698,151.01 | 264,958,397.35 | 264,958,397.35 | 269,630,338.75 | 439,509,806.68 | 218,485,271.91 | 218,485,271.91 | 269,140,164.40 |
JingzhuExpresswayGuangzhuSectionCo.,Ltd. | 1,340,650,149.26 | 640,290,496.74 | 640,290,496.74 | 890,454,604.43 | 1,318,255,057.77 | 582,719,882.98 | 582,719,882.98 | 950,191,703.45 |
Othernote:Nil
(4)SignificantrestrictionsofusingenterprisegroupassetsandpayoffenterprisegroupdebtNil(5)ProvidefinancialsupportorothersupportforstructureentitiesincorporateintothescopeofconsolidatedfinancialstatementsNil2.ThetransactionoftheCompanywithitsowner’sequitysharechangedbutstillcontrollingthesubsidiary(1)Descriptionofchangesinshareofowners'equityinsubsidiariesNil(2)Theinfluenceoftransactiononminorityshareholders'equityandownershipofparentcompanyNil3.Equityinjointventurearrangementorassociatedenterprise(1)Significantjointventurearrangementorassociatedenterprise
Name | Mainoperatingplace | Registrationplace | Businessnature | Proportion | Accountingtreatmentoftheinvestmentofjointventureorassociatedenterprise | |
Directly | Indirectly | |||||
GuangdongGuanghuiExpresswayCo.,Ltd. | Guangzhou,Guangdong | Guangzhou,Guangdong | ExpresswayManagement | 30.00% | Equitymethod | |
ZhaoqingYuezhaoHighwayCo.,Ltd. | Zhaoqing,Guangdong | Zhaoqing,Guangdong | ExpresswayManagement | 25.00% | Equitymethod | |
ShenzhenHuiyanExpresswayCo.,Ltd. | ShenzhenGuangdong | ShenzhenGuangdong | ExpresswayManagement | 33.33% | Equitymethod | |
GuangdongJiangzhongExpresswayCo.,Ltd. | Zhongshan,Guangdong | Guangzhou,Guangdong | ExpresswayManagement | 15.00% | Equitymethod | |
GanzhoukangdaExpresswayCo.,Ltd. | Gangzhou,Jiangxi | Gangzhou,Jiangxi | ExpresswayManagement | 30.00% | Equitymethod | |
GanzhouGankangExpresswayCo.,Ltd. | Gangzhou,Jiangxi | Gangzhou,Jiangxi | ExpresswayManagement | 30.00% | Equitymethod | |
GuangdongYuekeTechnologyPettyLoanCo.,Ltd. | Guangzhou,Guangdong | Guangzhou,Guangdong | Handeallkindsofsmallloans | 20.00% | Equitymethod | |
GuangyuanSecuritiesCo.,Ltd. | Hefei,Anhui | Hefei,Anhui | Securitybusiness | 2.37% | Equitymethod |
Notestoholdingproportionofjointventureorassociatedenterprisedifferentfromvotingproportion:
NilBasisofholdinglessthan20%ofthevotingrightsbuthasasignificantimpactorholding20%ormorevotingrightsbutdoesnothaveasignificantimpact:
Guangdong,JiangzhongExpresswayCo.,LtdandGuangyuanSecuritiesCo.,
Ltd...holds20%ofthevotingrights,buthasthepowertoparticipateinmakingdecisionsontheirfinancialandop
eratingdecisions,andthereforedeemedtobeabletoexertsignificantinfluenceovertheinvestee.(2)Mainfinancialinformationofsignificantjointventure
InRMB
Year-endbalance/Amountofcurrentperiod | Year-beginningbalance/Amountofpreviousperiod | |||
GuangdongGuanghuiExpresswayCo.,Ltd. | ZhaoqingYuezhaoHighwayCo.,Ltd. | GuangdongGuanghuiExpresswayCo.,Ltd. | ZhaoqingYuezhaoHighwayCo.,Ltd. | |
Currentassets | 886,631,849.70 | 196,254,075.84 | 635,522,495.58 | 181,912,624.81 |
Including:Cashandcashequivalent | 621,540,000.54 | 180,784,827.23 | 459,088,314.91 | 168,071,076.84 |
Non-currentassets | 3,813,612,927.86 | 1,565,557,770.89 | 4,004,796,494.08 | 1,680,394,842.72 |
Totalassets | 4,700,244,777.56 | 1,761,811,846.73 | 4,640,318,989.66 | 1,862,307,467.53 |
Currentliabilities | 544,082,765.04 | 151,065,956.20 | 412,938,473.00 | 176,531,063.96 |
Non-currentliabilities | 847,757,933.94 | 382,056,538.13 | 1,061,024,403.48 | 518,151,934.87 |
Totalliabilities | 1,391,840,698.98 | 533,122,494.33 | 1,473,962,876.48 | 694,682,998.83 |
Attributabletoshareholdersoftheparentcompany | 3,308,404,078.58 | 1,228,689,352.40 | 3,166,356,113.18 | 1,167,624,468.70 |
Shareofnetassetscalculatedbystake | 992,521,223.58 | 307,172,338.10 | 949,906,833.96 | 291,906,117.18 |
Bookvalueofequityinvestmentinjointventures | 992,521,223.58 | 307,172,338.10 | 949,906,833.96 | 291,906,117.18 |
Operatingincome | 1,855,658,219.29 | 555,636,181.75 | 1,844,690,103.83 | 511,470,748.89 |
Financialexpenses | 33,863,147.93 | 21,465,696.78 | 41,164,514.80 | 27,476,635.96 |
Incometaxexpenses | 323,116,545.35 | 79,594,368.12 | 313,823,801.69 | 66,259,297.93 |
Netprofit | 969,032,056.06 | 233,420,321.62 | 940,021,656.29 | 194,923,285.58 |
Totalcomprehensiveincome | 969,032,056.06 | 233,420,321.62 | 940,021,656.29 | 194,923,285.58 |
Dividendsreceivedfromjointventuresthisyear | 274,805,847.20 | 43,088,859.48 | 297,106,373.29 | 55,172,678.59 |
Othernote
(3)Mainfinancialinformationofsignificantassociatedenterprise
InRMB
Year-endbalance/Amountofcurrentperiod | Year-beginningbalance/Amountofpreviousperiod | |||||||||||
ShenzhenHuiyanExpresswayCo.,Ltd. | GuangdongJiangzhongExpresswayCo.,Ltd. | GanzhouKangdaExpressway | GanzhouGankangExpresswayCo.,Ltd. | GuangdongYuekeTechnologyPettyLoanCo.,Ltd | GuoyuanSecuritiesCo.,Ltd. | ShenzhenHuiyanExpresswayCo.,Ltd. | GuangdongJiangzhongExpresswayCo.,Ltd. | GanzhouKangdaExpressway | GanzhouGankangExpresswayCo.,Ltd. | GuangdongYuekeTechnologyPettyLoanCo.,Ltd | GuoyuanSecuritiesCo.,Ltd. | |
Currentassets | 153,631,998.00 | 86,313,236.14 | 35,495,996.32 | 270,093,954.27 | 1,394,967,072.45 | 42,721,180,653.50 | 430,404,563.50 | 147,279,650.98 | 21,995,366.33 | 208,757,705.55 | 1,573,602,864.36 | 45,296,573,799.43 |
Non-currentassets | 569,633,252.71 | 1,701,322,494.90 | 1,463,543,288.08 | 1,372,121,014.40 | 8,047,674.82 | 35,374,232,070.51 | 190,289,654.66 | 1,697,555,010.40 | 1,509,053,324.26 | 1,434,291,913.76 | 40,112,141.62 | 34,917,940,371.90 |
Totalassets | 723,265,250.71 | 1,787,635,731.04 | 1,499,039,284.40 | 1,642,214,968.67 | 1,403,014,747.27 | 78,095,412,724.01 | 620,694,218.16 | 1,844,834,661.38 | 1,531,048,690.59 | 1,643,049,619.31 | 1,613,715,005.98 | 80,214,514,171.33 |
Currentliabilities | 31,603,980.10 | 170,304,772.67 | 72,629,731.89 | 109,921,418.26 | 40,797,858.70 | 46,417,460,063.63 | 32,102,623.52 | 129,152,634.01 | 100,119,184.60 | 114,676,781.53 | 236,708,624.01 | 36,083,651,550.94 |
Non-currentLiabilities | 448,500,000.00 | 693,126,157.44 | 832,307,181.39 | 636,518.58 | 6,989,817,868.77 | 559,000,000.00 | 735,033,096.47 | 847,023,826.63 | 2,006,250.00 | 18,738,432,070.64 | ||
Totalliabilities | 31,603,980.10 | 618,804,772.67 | 765,755,889.33 | 942,228,599.65 | 41,434,377.28 | 53,407,277,932.40 | 32,102,623.52 | 688,152,634.01 | 835,152,281.07 | 961,700,608.16 | 238,714,874.01 | 54,822,083,621.58 |
MinorityShareholders’Equity | 263,112,578.63 | 11,368,910.62 | 297,258,467.45 | 12,064,185.84 | ||||||||
Shareholders’equityattributabletoshareholdersoftheparent | 691,661,270.61 | 1,168,830,958.37 | 733,283,395.07 | 699,986,369.02 | 1,098,467,791.36 | 24,676,765,880.99 | 588,591,594.64 | 1,156,682,027.37 | 695,896,409.52 | 681,349,011.15 | 1,077,741,664.52 | 25,380,366,363.91 |
Proratashareofthenetassetscalculated | 230,553,756.87 | 175,324,643.76 | 219,985,018.52 | 209,995,910.71 | 219,693,558.27 | 583,672,702.24 | 196,197,198.21 | 173,502,304.11 | 208,768,922.86 | 204,404,703.35 | 215,548,332.90 | 600,314,769.41 |
--Goodwill | 206,725,818.02 | 206,725,818.02 |
Thebookvalueofequityinvestmentsinjointventures | 230,553,756.87 | 175,324,643.76 | 219,985,018.52 | 209,995,910.71 | 219,693,558.27 | 790,398,520.26 | 196,197,198.21 | 173,502,304.11 | 208,768,922.86 | 204,404,703.35 | 215,548,332.90 | 807,040,587.43 |
Fairvalueofequityinvestmentofassociatedenterpriseswithopenquotation | 555,621,862.28 | 875,621,846.00 | ||||||||||
Buinsessincme | 246,387,205.44 | 511,026,031.42 | 244,708,403.60 | 169,762,652.79 | 181,963,049.20 | 2,569,814,200.00 | 233,738,236.95 | 487,119,486.42 | 245,700,515.43 | 152,521,263.87 | 177,208,471.56 | 3,502,796,791.77 |
Netprofit | 103,069,675.97 | 78,708,231.50 | 107,386,985.55 | 18,637,357.87 | 75,671,754.19 | 663,937,167.17 | 101,285,140.57 | 73,587,145.53 | 83,900,834.10 | 13,325,048.18 | 65,212,691.74 | 1,223,834,271.48 |
Othercomprehensiveincome | -862,492,101.21 | -172,970,719.38 | ||||||||||
Totalcomprehensiveincome | 103,069,675.97 | 78,708,231.50 | 107,386,985.55 | 18,637,357.87 | 75,671,754.19 | -198,554,934.04 | 101,285,140.57 | 73,587,145.53 | 83,900,834.10 | 13,325,048.18 | 65,212,691.74 | 1,050,863,552.10 |
Dividendsreceivedfromassociatesduringtheyear | 53,000,000.00 | 9,983,895.07 | 21,000,000.00 | 10,989,125.47 | 11,940,297.90 | 110,000,000.00 | 11,041,691.10 | 21,000,000.00 | 9,600,000.00 | 6,058,788.22 |
OthernoteNil
(4)SummaryfinancialinformationofinsignificantjointventureorassociatedenterpriseNil(5)NotetothesignificantrestrictionsoftheabilityofjointventureorassociatedenterprisetransferfundstotheCompany
Nil(6)Theexcesslossofjointventureorassociatedenterprise(7)Theunrecognizedcommitmentrelatedtojointventureinvestment
Nil(8)Contingentliabilitiesrelatedtojointventureorassociatedenterpriseinvestment
Nil
4.Significantcommonoperation
Nil
5.Equityofstructureentitynotincludinginthescopeofconsolidatedfinancialstatements
Notes:
Nil
6.Other
Nil
X.RisksRelatedtoFinancialInstruments
Themajorfinancialinstrumentsofthecompanyincludemonetarycapital,notesreceivableandaccountspayable.Thesefinancialinstrumentsareprimarilyrelatedtooperatingandfinancing.Forthedetailsofthefinancialinstruments,pleaserefertotherelatedprojectsinNotes5.Theriskrelevanttothesefinancialinstrumentsandtheriskmanagementpolicyadoptedbythecompanyforreducingtheserisksaredescribedasbelow:
1.CreditRiskThecreditriskmeansthatthepartyofthefinancialinstrumentfailstoperformtheobligations,andtheriskofthefinanciallossiscausedfortheotherparty.Thecompanyismainlyfacingthecustomercreditriskduetothecreditsale.Inordertoreducethecreditrisk,thecompanyonlymakestransactionswiththerecognizedandreputablecustomers,andcarriesoutthecontinuousmonitoringofaccountsreceivablethroughmonitoringthecreditoftheexistingcustomersandtheaginganalysis,inordertoensurethecompanynotfacingtheriskofbaddebtsandcontroltheoverallcreditriskwithinthecontrollablerange.2.InterestRateRiskTheinterestrateriskreferstothefluctuationriskappearingforthefairvalueoffinancialinstrumentsorfuturecashflowsduetothechangesinmarketinterestrate.Theinterestrateriskfacedbythecompanyismainlyfromthebankborrowings.Throughtheestablishmentofgoodrelationsbetweenbanksandenterprises,thecompany
makesthereasonabledesignofcreditrange,creditvarietyandcreditlimittoguaranteethesufficientcreditrangeofthebanksandmeetthefinancingdemands.Shorteningthedurationofsingleborrowingsandespeciallystatingtheprepaymenttermsistoreasonablyreducetheriskoftheinterestratefluctuations.3.ForeignExchangeRiskTheforeignexchangeriskreferstothefluctuationriskappearingforthefairvalueoffinancialinstrumentsorfuturecashflowsduetothechangesinforeignexchangerate.Thecompanymatchestheincomeandexpenditureofforeigncurrencyasfaraspossibleinordertoreducetheforeignexchangerisk.Duringthereportingperiod,thecompanyhaslittleeffectontheforeignexchangeriskduetotheshortcredittermofrevenueandexpenditurerelatedtotheforeigncurrency.4.LiquidityRiskTheliquidityriskmeansthattheriskoftheshortageoffundsoccurswhenthesettlementobligationsbythedeliveryofthecashorotherfinancialassetsarefulfilledbythecompany.Thepolicyofthecompanyistoensurethesufficientcashforrepayingthematureddebts.TheliquidityriskisunderthecentralizedcontrolofFinancedepartmentofthecompany,andFinancedepartmentshallguaranteethecompanyhavingthesufficientfundstorepaythedebtsunderanyreasonableforecastthroughmonitoringthecashbalance,themarketablesecuritiesavailabletobecashandtherollingforecastforthecashflowofthenextsixmonths.5.OtherPriceRiskThecompanyholdstheequityinvestmentofotherlistedcompanies,andthemanagementbelievesthattheseinvestmentsfacingthemarketpriceriskisacceptable.Fortheequityinvestmentofotherlistedcompaniesheldbythecompany,pleasereferto“Available-for-SaleFinancialAssetsinArticle8ofConsolidatedFinancialStatementinNotes5ofFinancialStatements”.XI.Thedisclosureofthefairvalue1.Closingfairvalueofassetsandliabilitiescalculatedbyfairvalue
InRMB
Items | Closingfairvalue | |||
Firvaluemeasurementitemsatlevel1 | Firvaluemeasurementitemsatlevel2 | Firvaluemeasurementitemsatlevel3 | Total | |
I.Consistentfairvaluemeasurement | -- | -- | -- | -- |
(II)Available-for-saleFinancialAssets | 870,443,292.80 | 870,443,292.80 | ||
(2)Equityinstrumentinvestment | 870,443,292.80 | 870,443,292.80 | ||
TotalofConsistentfairvaluemeasurement | 870,443,292.80 | 870,443,292.80 | ||
II.Non-continuousmeasurementfairvalue | -- | -- | -- | -- |
2.Marketpricerecognitionbasisforconsistentandinconsistentfairvaluemeasurementitemsatlevel1.Asattheendoftheperiod,thecompanyholdsshares235,254,944sharesofChinaEverbrightBankAccordingtotheclosingpriceofDecember31,2018of3.70yuan,thefinalcalculationoffairvaluewas870,443,292.80yuan.3.Valuationtechniqueadoptedandnatureandamountdeterminationofimportantparametersforconsistentandinconsistentfairvaluemeasurementitemsatlevel2.Nil4.Sensitivenessanalysisonunobservableparametersandadjustmentinformationbetweenopeningandclosingbookvalueofconsistentfairvaluemeasurementitemsatlevel3.Nil5.Sensitivenessanalysisonunobservableparametersandadjustmentinformationbetweenopeningandclosingbookvalueofconsistentfairvaluemeasurementitemsatlevel3.Nil6.ExplainthereasonforconversionandthepolicygoverningwhentheconversionhappensifconversionhappensamongconsistentfairvaluemeasurementitemsatdifferentlevelsNil7.ChangesinthevaluationtechniqueinthecurrentperiodandthereasonforchangeNil8.FairvalueoffinancialassetsandliabilitiesnotmeasuredatfairvalueNil9.OtherNilXII.Relatedpartiesandrelated-partytransactions
1.Parentcompanyinformationoftheenterprise
Name | Registeredaddress | Nature | Redistrictedcapital | TheparentcompanyoftheCompany'sshareholdingratio | TheparentcompanyoftheCompany’svoteratio |
GuangdongcommunicationGroupCo.,Ltd | No.83,85,BaiyunRoad,YuexiuDistrict,Guangzhou | Equitymanagement,trafficinfrastructureconstructionandrailwayprojectoperation | 26.8billion | 24.55% | 50.12% |
Notes:
GuangdongCommunicationGroupCo.,Ltd.isthelargestshareholderoftheCompany.legalrepresentative:Deng
Xiaohua.Dateofestablishment:June23,2000.AsofDecember31,2018,Registeredcapital:26.8billionyuan.Itisasolelystate-ownedlimitedcompany.Businessscope:equitymanagement,organizationofassetreorganizationandoptimizedallocation,raisingfundsbymeansincludingmortgage,transferofpropertyrightsandjointstocksystemtransformation,projectinvestment,operationandmanagement,trafficinfrastructureconstruction,highwayandrailwayprojectoperationandrelevantindustries,technologicaldevelopment,application,consultationandservices,highwayandrailwaypassengerandcargotransport,shipindustry,relevantoverseasbusinesses;Thevalue-addedcommunicationbusiness.ThefinialcontroloftheCompanywasStateownedassetssupervisionandAdministrationCommissionofGuangdongProvincialPeople'sGovernment.Othernotes:
2.SubsidiariesoftheCompanySubsidiariesofthisenterprise,seeNoteXI(9)therightsofotherentity3.InformationonthejointventuresandassociatedenterprisesoftheCompany
InformationonotherjointventureandassociatedenterpriseofoccurringrelatedpartytransactionswiththeCompanyinreportingperiod,orformbalanceduetorelatedpartytransactionsinpreviousperiod:
Nil4.OtherRelatedparties
Name | RelationwiththeCompany |
GuangdongBaomaoExpresswayCo.,Ltd. | Fullyownedsubsidiaryoftheparentcompany |
GuangdongBodaExpresswayCo.,Ltd. | Fullyownedsubsidiaryoftheparentcompany |
GuangdongChaohuiExpresswayCo.,Ltd. | Fullyownedsubsidiaryoftheparentcompany |
GuangdongEastThinkingManagementTechnologyDevelopmentCo.,Ltd. | Fullyownedsubsidiaryoftheparentcompany |
GuangdongTwoGuangExpresswayCo.,Ltd. | Fullyownedsubsidiaryoftheparentcompany |
GuangdongGaodaPropertyDevelopmentCo.,Ltd. | Fullyownedsubsidiaryoftheparentcompany |
GuangdongExpresswayMediaCo.,Ltd. | Fullyownedsubsidiaryoftheparentcompany |
GuangdongGuangfozhaoExpresswayCo.,Ltd. | Fullyownedsubsidiaryoftheparentcompany |
GuangdongGuanghuiExpresswayCo.,Ltd. | Fullyownedsubsidiaryoftheparentcompany |
GuangdongGuangleExpresswayCo.,ltd. | Fullyownedsubsidiaryoftheparentcompany |
GuangdongHehuiExpresswayCo.,ltd. | Fullyownedsubsidiaryoftheparentcompany |
GuangdongHumenBridgeCo.,Ltd. | Fullyownedsubsidiaryoftheparentcompany |
GuangdongHualuTrafficTechnologyCo.,Ltd. | Fullyownedsubsidiaryoftheparentcompany |
GuangdongTrafficandTechnologyTestingCo.,Ltd. | Fullyownedsubsidiaryoftheparentcompany |
GuangdongTrafficIndustryInvestmentCo.,Ltd. | Fullyownedsubsidiaryoftheparentcompany |
GuangdongKaiyangExpresswayCo.,Ltd. | Fullyownedsubsidiaryoftheparentcompany |
GuangdongLitongTechnologyInvestmentCo.,Ltd. | Fullyownedsubsidiaryoftheparentcompany |
GuangdongLitongRealEstateInvestmentCo.,Ltd. | Fullyownedsubsidiaryoftheparentcompany |
GuangdongUnionElectronServiceCo.,ltd. | Fullyownedsubsidiaryoftheparentcompany |
GuangdongLulutongCo.,Ltd. | Fullyownedsubsidiaryoftheparentcompany |
GuangdongLuoyangExpresswayCo.,Ltd. | Fullyownedsubsidiaryoftheparentcompany |
Name | RelationwiththeCompany |
GuangdongMaozhanExpresswayCo.,Ltd. | Fullyownedsubsidiaryoftheparentcompany |
GuangdongMeiheExpresswayCo.,Ltd. | Fullyownedsubsidiaryoftheparentcompany |
GuangdongNinghuaExpresswayCo.,Ltd. | Fullyownedsubsidiaryoftheparentcompany |
GuangdongPingxingExpresswayCo.,Ltd. | Fullyownedsubsidiaryoftheparentcompany |
GuangdongShanfenExpresswayCo.,Ltd. | Fullyownedsubsidiaryoftheparentcompany |
GuangdongShenshanExpresswayEastSectionCo.,Ltd. | Fullyownedsubsidiaryoftheparentcompany |
GuangdongExpresswayCo.,Ltd. | Fullyownedsubsidiaryoftheparentcompany |
GuangdongHighwayConstructionCo.,Ltd. | Fullyownedsubsidiaryoftheparentcompany |
GuangdongRoad&BridgeConstructionCo.,Ltd. | Fullyownedsubsidiaryoftheparentcompany |
GuangdongTaishanCoastalExpresswayCo.,Ltd. | Fullyownedsubsidiaryoftheparentcompany |
GuangdongTongyiExpresswayServiceAreaCo.,Ltd. | Fullyownedsubsidiaryoftheparentcompany |
GuangdongYueyunTrafficCo.,Ltd. | Fullyownedsubsidiaryoftheparentcompany |
GuangdongYangmaoExpresswayCo.,Ltd. | Fullyownedsubsidiaryoftheparentcompany |
GuangdongYuedongExpresswayIndustryDevelopmentCo.,Ltd. | Fullyownedsubsidiaryoftheparentcompany |
GuangdongYueyunTrafficCo.,Ltd. | Fullyownedsubsidiaryoftheparentcompany |
GuangdongZhaoyangExpresswayCo.,Ltd. | Fullyownedsubsidiaryoftheparentcompany |
GuangshenzhuExpresswayCo.,Ltd. | Fullyownedsubsidiaryoftheparentcompany |
GuangzhouXinyueAsphaltCo.,Ltd. | Fullyownedsubsidiaryoftheparentcompany |
HeyuanHelongExpresswayCo.,Ltd. | Fullyownedsubsidiaryoftheparentcompany |
YunfoGuangyunExpresswayCo.,Ltd. | Fullyownedsubsidiaryoftheparentcompany |
ZhongshanYueyunAiroortExpressPassengerCo.,Ltd. | Fullyownedsubsidiaryoftheparentcompany |
GuangdongLitongInvestformationTechnologyInvestmentCo.,Ltd. | Fullyownedsubsidiaryoftheparentcompany,Hasbeencancelled |
GuangdongWestCoastalExpresswayXinhuiSectionCo.,Ltd | Fullyownedsubsidiaryoftheparentcompany,Hasbeencancelled |
GuangdongWestCoastalExpresswayCo.,Ltd | Fullyownedsubsidiaryoftheparentcompany,Hasbeencancelled |
GuangdongWestCoastalExpresswayZhuhaiSectionCo.,Ltd | Fullyownedsubsidiaryoftheparentcompany,Hasbeencancelled |
Hongkong-Zhuhai-MacaoConnectionlinemanagementcenter | Managedbytheparentcompany |
GuangdongJiangzhaoExpresswayManagementCenter | Managedbytheparentcompany |
GuangdongNanyueTrafficChaozhangExpresswayManagementCenter | Managedbytheparentcompany |
GuangdongNanyueTrafficRenboExpresswayManagementCenter | Managedbytheparentcompany |
GuangdongNanyueTrafficShaoganExpresswayManagementCenter | Managedbytheparentcompany |
GuangdongNanyueTrafficYunzhanExpresswayManagementCenter | Managedbytheparentcompany |
GuangzhongjiangExpresswayProjectManagement | Managedbytheparentcompany |
GuangdongChangdaHighwayEngineeringCo.,Ltd. | Controlledbythesameparentcompanyandequityparticipationunit |
Name | RelationwiththeCompany |
XinyueHighwayConstructionCo.,Ltd. | MinorityshareholdersoftheholdingSun-Subsidiarie |
GuangdongGuangzhuWestLineExpresswayCo.,Ltd. | Controlledbythesameparentcompanyandequityparticipationunit |
GuangdongJingzhuExpresswayGuangzhuNorthSectionCo.,Ltd. | Controlledbythesameparentcompanyandequityparticipationunit |
Othernote
5.Listofrelated-partytransactions
(1)InformationonacquisitionofgoodsandreceptionoflaborserviceAcquisitionofgoodsandreceptionoflaborservice
InRMB
Relatedparties | Contentofrelatedtransaction | Amountofcurrentperiod | Amountofpreviousperiod | Overthetradinglimitornot? | Amountoflastperiod |
GuangdongChangdahighwayCo.,Ltd. | Projectfund | 29,662,147.00 | 24,378,346.43 | ||
GuangdongUnionelectronicservicesco.,Ltd. | Projectfund | 15,478,247.27 | |||
GuangdongHualuTrafficTechnologyCo.,Ltd. | Projectfund | 6,084,009.00 | 7,535,263.53 | ||
GuangdongTrafficTechnologyTestingCo.,Ltd. | Projectfund | 5,380,171.92 | |||
GuangdongLitongTechnologyInvestmentCo.,Ltd. | Projectfund | 3,517,587.00 | 1,431,442.00 | ||
GuangdongLulutongCo.,Ltd. | Projectfund | 1,985,356.36 | |||
GuangdongHumenBridgeCo.,Ltd. | Projectfund,service | 1,470,696.80 | 174,000.00 | ||
GuangdongXinyuetrafficInvestmentCo.,Ltd. | Projectfund | 770,454.00 | 9,500.00 | ||
GuangdongTongyiExpresswayServiceAreaCo.,Ltd | Service | 747,966.07 | 820,276.93 | ||
GuangdongEastThinkingManagementTechnologyDevelopmentCo.,Ltd. | Projectfund | 369,650.00 | |||
GuangdongExpresswayCo.,Ltd. | Projectfund | 144,221.17 | |||
GuangdongGuanghaiExpresswayCo.,Ltd. | Interest | 3,231,506.25 | |||
GanzhouGankangExpresswayCo.,Ltd. | Interest | 765,623.34 | 1,051,109.99 | ||
GuangdongJiangzhongExpresswayCo.,Ltd. | Interest | 187,920.00 | |||
GuangdongExpresswayMediaCo.,Ltd. | Service | 606,132.08 | |||
GuangdongEastThinkingManagementTechnologyDevelopmentCo.,Ltd. | Service | 404,091.29 | 470,705.00 | ||
GuangdongChangdaHighwayEngineeringCo.,Ltd. | Projectfund | 1,152,297.42 | |||
GuangdongLitongTechnologyInvestment | Projectfund | 39,000.00 |
Relatedparties | Contentofrelatedtransaction | Amountofcurrentperiod | Amountofpreviousperiod | Overthetradinglimitornot? | Amountoflastperiod |
Co.,ltd. | |||||
GuangdongLitongTechnologyInvestmentCo.,ltd. | Purchasingassets | 427,500.00 | 323,000.00 | ||
GuangdongLulutongCo.,Ltd. | Purchasingassets | 56,680.00 | |||
GuangdongXinyueTrafficInvestmentCo.,Ltd. | Purchasingassets | 219,756.38 | |||
GuangdongHualuTrafficTechnologyCo.,Ltd. | Purchasingassets | 45,913.29 | |||
GuangdongEastThinkingManagementTechnologyDevelopmentCo.,Ltd. | Purchasingassets | 297,950.00 | 614,275.80 | ||
GuangdongLitongInformationTechnologyInvestmentCo.,Ltd. | Purchasingassets | 185,000.00 | 950,000.00 | ||
GuangdongLulutongCo.,Ltd. | Purchasingassets | 144,000.00 | |||
GuangdongHualuTrafficTechnologyCo.,Ltd. | Purchasingassets | 12,405.71 | |||
GuangdongChangdahighwayCo.,Ltd. | Purchasingassets | 181,773,095.95 | 24,709,006.46 | ||
GuangdongHualuTrafficTechnologyCo.,Ltd. | Purchasingassets | 5,156,328.48 | 2,717,447.60 | ||
GuangdongXinyueTrafficInvestmentCo.,Ltd. | Purchasingassets | 1,136,466.97 | 2,858,773.68 | ||
GuangdongLitongInformationTechnologyInvestmentCo.,Ltd. | Purchasingassets | 859,450.00 | 678,996.00 |
Relatedtransactionsonsalegoodsandreceivingservices
InRMB
Relatedparty | Content | Amountofcurrentperiod | Amountofpreviousperiod |
JingzhuExpresswayGuangzhuNorthsectionCo.,Ltd. | Commissionmanagementfee | 17,120,754.74 | 16,328,018.89 |
GuangdongExpresswayCo.,Ltd. | Projectfund | 5,622,814.88 | 6,304,510.75 |
GuangdongGuanghuiExpresswayCo.,Ltd. | Projectfund | 2,437,801.44 | 5,873,759.61 |
GuangdongLuqiaoConstructionDevelopmentCo.,Ltd. | Projectfund | 2,379,137.37 | 839,724.05 |
GuangdongXinyueTrafficInvestmentCo.,Ltd. | Projectfund | 1,883,038.06 | 3,534,631.70 |
ZhaoqingYuezhaoHighwayCo.,Ltd. | Projectfund | 856,469.13 | 325,814.39 |
GuangdongGuangzhuWestLineExpresswayCo.,Ltd. | Projectfund | 729,132.79 | 758,317.15 |
GuangdongHighwayConstructionCo.,Ltd. | Projectfund | 594,659.08 | 397,676.19 |
GuangdongBodaExpresswayCo.,Ltd. | Projectfund | 520,924.53 | 317,618.56 |
GuangdongKaiyangExpresswayCo.,Ltd. | Projectfund | 507,128.03 | 682,612.31 |
GuangdongChaohuiExpresswayCo.,Ltd. | Projectfund | 384,835.85 | 457,548.31 |
GuangdongGuangfoExpresswayCo.,Ltd. | Projectfund | 342,452.84 | 297,452.82 |
Relatedparty | Content | Amountofcurrentperiod | Amountofpreviousperiod |
GuangdongGuangleExpresswayCo.,Ltd. | Projectfund | 290,094.34 | 445,418.32 |
GuangdongJiangzhongExpresswayCo.,Ltd. | Projectfund | 276,415.10 | 319,266.57 |
GuangdongMaozhanExpresswayCo.,Ltd. | Projectfund | 206,603.77 | 350,468.19 |
GuangdongZhongjiangExpresswayProjectManagementDept | Projectfund | 197,169.81 | |
GuangdongBaomaoExpresswayCo.,Ltd. | Projectfund | 189,622.64 | 328,602.10 |
GuangdongZhaoyangExpresswayCo.,Ltd. | Projectfund | 172,641.51 | 246,214.16 |
GuangdongYangmaoExpresswayCo.,Ltd. | Projectfund | 166,981.13 | 269,627.28 |
GuangdongTwoGuangExpresswayCo.,Ltd. | Projectfund | 164,396.55 | |
GuangdongJiangzhaoExpresswayManagementCenter | Projectfund | 147,169.81 | |
GuangdongHumenBridgeCo.,Ltd. | Projectfund | 133,435.27 | 115,477.34 |
GuangdongTrifficIndustryInvestmentCo.,Ltd. | Projectfund | 118,867.92 | 101,018.80 |
GuangdongLuoyangExpresswayCo.,Ltd. | Projectfund | 107,547.17 | 53,773.58 |
YunfoGufangyunExpresswayCo.,Ltd. | Projectfund | 94,622.64 | 50,943.40 |
GuangdongTaishanCoastalExpresswayCo.,Ltd. | Projectfund | 59,433.96 | 118,867.92 |
ShezhenHuiyanExpresswayCo.,Ltd. | Projectfund | 53,773.58 | 103,765.52 |
GuangdongYueyunTrifficCo.,Ltd. | Projectfund | 42,452.83 | 56,603.78 |
GuangdongLitongTechnologyInvestmentCo.,Ltd. | Projectfund | 35,384.62 | 208,504.28 |
Guang-Shen-ZhuExpresswayCo.,Ltd. | Projectfund | 1,683,819.56 | |
GuangdongWestCoastalExpresswayZhuhaiSectionCo.,Ltd. | Projectfund | 312,705.95 | |
GuangdongShanfenExpresswayCo.,Ltd. | Projectfund | 137,244.44 | |
GuangdongYuedongExpresswayIndustryDevelopmentCo.,Ltd. | Projectfund | 125,935.04 | |
GuangdongWestCoastalExpresswayXinhuiSectionCo.,Ltd. | Projectfund | 64,691.05 | |
GuangdongXinyueTrifficInvestmentCo.,Ltd. | Bid | 862.07 | |
GuangdongLulutongCo.,Ltd. | Bid | 862.07 |
Note(2)Relatedtrusteeship/contractRelatedtrusteeshiporcontractinginwhichtheCompanyistheundertake
Nil
Listsofentrust/contractee
Nil
(3)InformationofrelatedleaseTheCompanywaslessor:
InRMB
Nameoflessee | Categoryofleaseassets | Theleaseincomeconfirmedinthisyear | Theleaseincomeconfirmedinlastyear |
GuangdongExpresswayMediaCo.,Ltd. | Advertisinglease | 3,436,468.80 | 3,912,772.37 |
GuangdongTongyiExpresswayServiceAreaCo.,Ltd. | ServiceAreaLease | 5,859,573.97 | 6,009,052.78 |
GuangdongChangdaHighwayEngineeringCo.,Ltd. | Equipmentlease | 118,974.36 |
-Thecompanywaslessee:
InRMB
Lessor | Categoryofleasedassets | Theleaseincomeconfirmedinthisyear | Categoryofleasedassets |
GuangdongLitongRealEatateInvestmentCo.,Ltd | Officespace | 9,254,826.21 | 8,619,987.40 |
GuangdongGuanghuiExpresswayCo.,Ltd. | Advertisingcolumnlease | 551,400.00 | 948,300.00 |
ZhaoqingYuezhaoHighwayCo.,Ltd. | Advertisingcolumnlease | 248,062.50 | 234,609.00 |
ZhaoqingYuezhaoHighwayCo.,Ltd. | Equipment | 116,504.85 | 116,504.85 |
GuangdongKaiyangExpresswayCo.,Ltd. | Equipmentlease | 116,504.85 | 116,504.85 |
GuangdongMaozhanExpresswayCo.,Ltd. | Equipmentlease | 103,448.28 | 102,564.10 |
GuangdongGaodaPropertyDevelopmentCo.,Ltd. | Officespace | 60,999.64 | |
GuangdongJingzhuExpresswayGuangzhuNorthSectionCo.,Ltd. | Installationlease | 8,918.12 | |
GuangdongHighwayConstructionCo.,Ltd. | Officespace | 109,182.36 |
Note
(4)Related-partyguarantee
TheCompanywasGuarantorNilTheCompanywassecuredparty
InRMB
Guarantor | Guaranteeamount | Startdate | Enddate | Executionaccomplishedornot |
GuangdongCommunicationGroupCo.,Ltd. | 1,725,000,000.00 | September25,2012 | March25,2020 | No |
Note:
ControllingshareholderGuangdongCommunicationGroupCo.,Ltd.acceptedPacificAssetManagementCo.,
Ltd.insurancedebtinvestmentplantoprovidejointliabilityguaranteeofprincipalandinterestinfullandunconditionalirrevocable.ThecompanyheldGuangzhouGuangzhuTrafficInvestmentManagementCo.,Ltd.75%stakeinGuangdongCommunicationGroupCo.,Ltd.toprovideacounter-guarantee.(5)Inter-banklendingofcapitalofrelatedparties
InRMB
Relatedparty | Amountborrowedandloaned | Initialdate | Duedate | Notes |
Borrowed | ||||
GuangdongGuanghuiExpresswayCo.,Ltd. | 45,000,000.00 | May22,2018 | May21,2019 | |
GuangdongGuanghuiExpresswayCo.,Ltd. | 105,000,000.00 | March22,2018 | September21,2018 | |
GanzhouGankangExpresswayCo.,Ltd. | 50,000,000.00 | February2,2018 | June3,2018 | |
GuangdongJiangzhongExpresswayCo.,Ltd. | 36,000,000.00 | November14,2018 | November13,2023 | |
Loaned |
(6)Relatedpartyassettransferanddebtrestructuring
Nil
(7)Rewardsforthekeymanagementpersonnel
InRMB
Items | Amountofcurrentperiod | Amountofpreviousperiod |
Rewardsforthekeymanagementpersonnel | 6,638,600.00 | 6,003,229.80 |
Numberforthekeymanagementpersonnel | 25 | 32 |
(8)Otherrelated-partytransactions
-CapitalDepositSituationofGuangdongProvincialCommunicationGroupFinanceCo.,Ltd.
Items | Amountofcurrentperiod | Amountofpreviousperiod |
BalanceofDeposit | 640,041,849.19 | 366,841,521.49 |
InterestIncome | 5,695,294.50 | |
PricingPrinciple | Referencetothedepositrateofthepeople'sBankofChinaforthesameperiod |
OnDecember25,2017andDecember22,2017,theCompanysignedtheCashManagementBusinessCooperationAgreementwithGuangdongCommunicationsGroupFinanceCo.,Ltd.andIndustrialandCommercialBankofChinaGuangdongBranchandsignedtheCashManagementBusinessCooperationAgreementwithGuangdongCommunicationsGroupFinanceCo.,Ltd.andChinaConstructionBankCorporation.GuangdongBranchrespectively,tojoininthecashpoolofGuangdongCommunicationsGroupFinanceCo.,Ltd.
-OnJune15,2016,Thecompany’s29thmeeting(Provisional)oftheseventhboardofdirectorswasconvened.TheProposalonEntrustmentofConstructionManagementoftheRenovationandExpansionProjectof
Sanbao-to-ShuikouSectionofShengyang-to-HaikouNationalExpresswaywasdeliberatedinthemeeting,agreedthatGuangdongProvincialFokaiExpresswayCo.,LtdentrustsGuangdongProvincialHighwayConstructionCo.,LtdwiththeconstructionmanagementoftherenovationandexpansionprojectofSanbao-to-ShuikouSectionofShengyang-to-HaikouNationalExpressway,andhandlingtherelatedmattersoftheentrustmentoftheconstructionmanagement.6.Receivablesandpayablesofrelatedparties
(1)Receivables
InRMB
Name | Relatedparty | Amountatyearend | Amountatyearbeginning | ||
BalanceofBook | BaddebtProvision | BalanceofBook | BaddebtProvision | ||
Accountreceivable | GuangdongUnionelectronServceCo.,Ltd. | 45,159,424.41 | 45,447,260.32 | ||
Accountreceivable | GuangdongHumenBridgeCo.,Ltd. | 12,579,159.31 | 9,425,822.31 | ||
Accountreceivable | JingzhuExpresswayGuangzhuNorthSectionCo.,Ltd. | 5,280,850.02 | 4,821,700.01 | ||
Accountreceivable | GuangdongXinyueTrafficInvestmentCo.,Ltd. | 1,828,273.53 | 202,508.01 | 3,848,556.04 | 65,052.00 |
Accountreceivable | GuanghuiExpresswayCo.,Ltd. | 901,822.65 | 4,025,633.55 | ||
Accountreceivable | GuangdongExpresswayCo.,Ltd. | 873,408.00 | 1,274,749.50 | ||
Accountreceivable | GuangdongHighwayConstructionCo.,Ltd. | 358,484.00 | 109,152.00 | 626,304.00 | 65,491.00 |
Accountreceivable | GuangdongGuangzhuWestLineExpresswayCo.,Ltd. | 294,260.00 | 356,850.40 | ||
Accountreceivable | GuangdongKaiyangExpresswayCo.,Ltd. | 178,157.15 | 379,837.72 | ||
Accountreceivable | GuangdongJiangzhaoExpresswayManagementCenter | 156,000.00 | |||
Accountreceivable | GuangdongZhongjiangExpresswayProjectManagementDept | 95,000.00 | |||
Accountreceivable | GuangdongLitongTechnologyInvestmentCo.,Ltd. | 68,542.00 | 6,854.20 | 201,342.00 | |
Accountreceivable | GuangdongTaishancoastalExpresswayCo.,Ltd. | 63,000.00 | |||
Accountreceivable | GuangdongYueyunTrafficCo.,Ltd. | 45,000.00 | |||
Accountreceivable | ZhaoqingYuezhaoHighway | 4,829.98 |
Name | Relatedparty | Amountatyearend | Amountatyearbeginning | ||
BalanceofBook | BaddebtProvision | BalanceofBook | BaddebtProvision | ||
Co.,Ltd. | |||||
Accountreceivable | GuangdongExpresswayMediaCo.,Ltd. | 1,799,600.00 | |||
Accountreceivable | Guang-Shen-ZhuExparesswayCo.,Ltd. | 189,000.00 | |||
Accountreceivable | GuangdongNanyueTrafficShaoganExpresswayManagementCenter | 179,424.00 | |||
Accountreceivable | GuangdongMaozhanExpresswayCo.,Ltd. | 166,196.80 | |||
Accountreceivable | GuangdongBaomaoExparesswayCo.,Ltd. | 145,038.40 | |||
Accountreceivable | GuangdongYuedongExpresswayDevelopmentCo.,Ltd. | 139,976.80 | |||
Accountreceivable | GuangdongWestCoastalExpresswayCo.,Ltd. | 30,000.00 | 2,830.00 | ||
Advancedpayment | GuangdongLitongRealEstateInvestmentCo.,Ltd. | 735,092.38 | 700,087.62 | ||
Advancedpayment | ZhaoqingYuezhaoHighwayCo.,Ltd. | 144,702.50 | 144,703.00 | ||
OtherAccountreceivable | GuangdongLitongRealEstateInvestmentCo.,Ltd. | 1,505,864.00 | 1,505,864.00 | ||
OtherAccountreceivable | GuangdongGuanghuiExpresswayCo.,Ltd. | 1,478,904.68 | 1,463,995.66 | ||
OtherAccountreceivable | GuangdongExpresswayCo.,Ltd. | 630,778.47 | 597,164.23 | ||
OtherAccountreceivable | ZhaoqingYuezhaoHighwayCo.,Ltd. | 437,463.87 | 427,478.09 | ||
OtherAccountreceivable | GuangdongXinyueTrafficInvestmentCo.,Ltd. | 415,442.60 | 415,442.60 | ||
OtherAccountreceivable | GuangdongExpresswayMediaCo.,Ltd. | 275,166.57 | 1,213,926.84 | ||
OtherAccountreceivable | Guang-Shen-ZhuExparesswayCo.,Ltd. | 187,533.46 | 223,371.78 | ||
OtherAccountreceivable | GuangdongGuangzhuWestLineExpresswayCo.,Ltd. | 186,371.32 | 187,560.16 | ||
OtherAccountreceivable | GuangdongHighwayConstructionCo.,ltd. | 129,529.29 | 115,058.75 | ||
OtherAccountreceivable | GuangdongRoad&BridgeConstructionDevelopmentCo.,ltd. | 121,948.14 | 93,172.08 | ||
OtherAccountreceivable | GuangdongBodaExpresswayCo.,Ltd. | 52,467.45 | 52,689.46 | ||
OtherAccountreceivable | GuangdongKaiyangExpresswayCo.,Ltd. | 45,999.77 | 88,827.08 |
Name | Relatedparty | Amountatyearend | Amountatyearbeginning | ||
BalanceofBook | BaddebtProvision | BalanceofBook | BaddebtProvision | ||
OtherAccountreceivable | GuangdongGuangleExpresswayCo.,ltd. | 29,832.90 | 104,353.10 | ||
OtherAccountreceivable | GuangdongYangmaoExpresswayCo.,Ltd. | 29,265.49 | 46,778.36 | ||
OtherAccountreceivable | GuangdongJiangzhongExpresswayCo.,Ltd. | 28,474.26 | 28,942.41 | ||
OtherAccountreceivable | GuangdongMaozhanExpresswayCo.,Ltd. | 14,074.11 | 17,591.49 | ||
OtherAccountreceivable | GuangdongShenshanExpresswayCo.,ltd. | 12,081.56 | |||
OtherAccountreceivable | GuangdongGaodaPropertyDevelopmentCo.,Ltd. | 11,748.00 | 9,940.70 | ||
OtherAccountreceivable | GuangdongHumenBridgeCo.,Ltd. | 9,141.89 | 58,139.05 | ||
OtherAccountreceivable | GuangdongShanfenExpresswayCo.,Ltd. | 8,028.80 | 8,028.80 | ||
OtherAccountreceivable | GuangdongBaomaoExpresswayCo.,Ltd. | 7,633.60 | 7,633.60 | ||
OtherAccountreceivable | GuangdongYuedongExpresswayIndustryDevelopmentCo.,Ltd. | 7,367.20 | 7,367.20 | ||
OtherAccountreceivable | GuangdongJingzhuExpresswayGuangzhuSectionCo.,Ltd. | 6,202.46 | 63,612.63 | ||
OtherAccountreceivable | YunfoGuangyunExpresswayCo.,Ltd. | 5,831.32 | 11,628.49 | ||
OtherAccountreceivable | GuangdongLitongTechnologyInvestmentCo.,Ltd. | 5,273.00 | 5,273.00 | ||
OtherAccountreceivable | GuangdongZhaoyangExpresswayCo.,Ltd. | 4,304.00 | 4,309.15 | ||
OtherAccountreceivable | GuangdongGuangfozhaoExpresswayCo.,Ltd. | 3,619.10 | 1,685.28 | ||
OtherAccountreceivable | GuangdongYueyunTrafficCo.,Ltd. | 3,032.00 | 3,032.00 | ||
OtherAccountreceivable | HongkongZhuhaiMacaoBridgeConnectionlinemanagementcenter | 3,000.00 | |||
OtherAccountreceivable | GuangdongChaohuiExpresswayCo.,Ltd. | 2,819.90 | 5,617.45 | ||
OtherAccountreceivable | GuangdongTwoGuangExpresswayCo.,Ltd. | 1,656.69 | 556.32 | ||
OtherAccountreceivable | GuangdongMeiheExpresswayCo.,Ltd. | 574.17 | 3,367.47 | ||
OtherAccountreceivable | HeyuanHelongExpresswayCo.,Ltd. | 467.14 | 1,428.35 |
Name | Relatedparty | Amountatyearend | Amountatyearbeginning | ||
BalanceofBook | BaddebtProvision | BalanceofBook | BaddebtProvision | ||
OtherAccountreceivable | GuangdongNinghuaExpresswayCo.,Ltd. | 271.81 | |||
OtherAccountreceivable | GuangdongHehuiExpresswayCo.,Ltd. | 90.20 | |||
OtherAccountreceivable | GuangdongWestcoastalExpresswayZhuhaiSectionCo.,Ltd. | 40,967.05 | |||
OtherAccountreceivable | GuangdongJiangzhaoExpresswayManagementCenter | 9,098.40 | |||
OtherAccountreceivable | GuangdongWestcoastalExpresswayXinhuiSectionCo.,Ltd. | 5,753.20 | |||
OtherAccountreceivable | GuangdongNanyueTrafficShaoganExpresswayCo.,Ltd. | 1,860.07 | |||
OtherAccountreceivable | GuangdongPingxingExpresswayCo.,Ltd. | 243.34 | |||
OtherNon-CurrentAssets | GuangdongChangdaHighwayEngineeringCo.,Ltd. | 4,216,292.57 | 15,937,725.40 | ||
OtherNon-CurrentAssets | GuangdongXinyueTrafficInvestmentCo.,ltd. | 823,423.25 | |||
OtherNon-CurrentAssets | GuangdongHualuTrafficTechnologyCo.,Ltd. | 796,711.00 | |||
OtherNon-CurrentAssets | GuangdongEastThinkingManagementTechnologyDevelopmentCo.,Ltd. | 268,155.00 | |||
Long-termamortizationcosts | GuangdongJingzhuExpresswayGuangzhuNorthSectionCo.,Ltd. | 1,221,781.88 |
(2)Payables
InRMB
Name | Relatedparty | Amountatyearend | Amountatyearbeginning |
Accountpayable | GuangdongHighwayConstructionCo.,Ltd. | 25,630,651.00 | 75,980,021.00 |
Accountpayable | GuangdongChangdaHighwayEngineeringCo.,Ltd. | 12,166,883.00 | 14,449,499.60 |
Accountpayable | GuangdongExpresswayCo.,Ltd. | 8,746,491.18 | 8,746,491.18 |
Accountpayable | GuangdongHualuTrafficTechnologyCo.,Ltd. | 2,913,206.00 | 383,282.00 |
Accountpayable | GuangzhouXinyueAsphaltCo.,Ltd. | 2,537,848.10 | |
Accountpayable | GuangdongXinyueTrafficInvestmentCo.,Ltd. | 1,829,141.32 | 776,543.24 |
Accountpayable | GuangdongLitongTechnologyInvestmentCo.,Ltd. | 1,631,800.00 | 2,152,850.00 |
Accountpayable | GuangdongGuanghuiExpresswayCo.,Ltd. | 551,400.00 | 948,300.00 |
Accountpayable | GuangdongMaozhanExpresswayCo.,Ltd. | 120,000.00 | 120,000.00 |
Name | Relatedparty | Amountatyearend | Amountatyearbeginning |
Accountpayable | GuangdongUnionElectronServiceCo.,Ltd. | 1.59 | |
Interestpayable | GuangdongGuanghuiExpresswayCo.,Ltd. | 1,096,200.00 | |
Interestpayable | GuangdongJiangzhongExpresswayCo.,Ltd. | 43,065.00 | |
Receivedinadvance | GuangdongJingzhuExpresswayGuangzhuNorthSectionCo.,Ltd. | 0.06 | |
OtherPayableaccount | GuangdongGuanghuiExpresswayCo.,Ltd. | 45,000,000.00 | 20,221.75 |
OtherPayableaccount | GuangdongChangdaHighwayEngineeringCo.,Ltd. | 11,346,061.22 | 3,953,559.55 |
OtherPayableaccount | GuangdongUnionElectronServiceCo.,Ltd. | 3,800,226.36 | 2,238,981.27 |
OtherPayableaccount | GuangdongXinyueTrafficInvestmentCo.,Ltd. | 1,779,918.51 | 1,636,943.30 |
OtherPayableaccount | GuangdongHualuCommunicationTechnologyCo.,Ltd. | 786,185.88 | 181,253.14 |
OtherPayableaccount | GuangdongEastThinkingManagementTechnologyDevelopmentCo.,Ltd. | 531,573.69 | 230,713.19 |
OtherPayableaccount | GuangdongLitongTechnologyInvestmentCo.,Ltd. | 203,655.20 | 465,228.30 |
OtherPayableaccount | GuangzhongJiangExpresswayCo.,Ltd. | 200,491.55 | 200,000.00 |
OtherPayableaccount | GuangdongLulutongCo.,Ltd. | 165,249.80 | 133,249.80 |
OtherPayableaccount | GuangdongTongyiExpresswayServiceAreaCo.,Ltd. | 120,000.00 | 120,000.00 |
OtherPayableaccount | GuangdongExpresswayMediaCo.,Ltd. | 70,000.00 | 70,000.00 |
OtherPayableaccount | GuangdongExpresswayCo.,Ltd. | 15,342.09 | 350,680.10 |
OtherPayableaccount | GuangdongJingzhuExpresswayGuangzhuNorthSectionCo.,Ltd. | 9,327.00 | 13,553.00 |
OtherPayableaccount | GuangdongJiangzhaoExpresswayManagementCenter | 7,217.12 | 62,047.64 |
OtherPayableaccount | GuangdongBaomaoExpresswayCo.,Ltd. | 3,206.11 | 48,950.59 |
OtherPayableaccount | GuangdongTrafficIndustryInvestmentCo.,Ltd. | 2,347.68 | |
OtherPayableaccount | GuangdongZhaoyangExpresswayCo.,Ltd. | 2,145.78 | 49,171.27 |
OtherPayableaccount | GuangdongYuedongExpresswayIndustryDevelopmentCo.,Ltd. | 1,018.37 | 2,566.50 |
OtherPayableaccount | GuangdongNanyueTrafficYunzhanExpresswayManagementCenter | 821.38 | |
OtherPayableaccount | GuangdongShanfenExpresswayCo.,Ltd. | 751.35 | 5,843.90 |
OtherPayableaccount | GuangdongHighwayConstructionCo.,Ltd. | 689.83 | 11,158.46 |
Name | Relatedparty | Amountatyearend | Amountatyearbeginning |
OtherPayableaccount | GuangdongRoad&BridgeConstructionDevelopmentCo.,Ltd. | 551.99 | 2,435.71 |
OtherPayableaccount | GuangdongNanyueTrafficShaoganExpresswayManagementCenter | 546.89 | |
OtherPayableaccount | ShenzhenHuiyanExpresswayCo.,Ltd. | 391.36 | 946.81 |
OtherPayableaccount | GuangdongLuoyangExpresswayCo.,Ltd. | 319.21 | 1,202.48 |
OtherPayableaccount | GuangdongNanyueTrafficZhaozhangExpresswayManagementCenter | 282.67 | |
OtherPayableaccount | GuangdongNanyueTrafficRenboExpresswayManagementCenter | 225.79 | |
OtherPayableaccount | GuangdongBodaExpresswayCo.,Ltd. | 100.97 | 408.23 |
OtherPayableaccount | GuangdongPingxingExpresswayCo.,Ltd. | 45.41 | |
OtherPayableaccount | GuangdongKaiyangExpresswayCo.,Ltd. | 272,445.68 | |
OtherPayableaccount | GuangdongJiangzhongExpresswayCo.,Ltd. | 215,384.63 | |
OtherPayableaccount | GuangdongMaozhanExpresswaCo.,Ltd. | 188,931.56 | |
OtherPayableaccount | GuangdongWestCoastalExpresswayZhuhaiSectionCo.,Ltd. | 48,146.64 | |
OtherPayableaccount | ZhongshanYueyunAirportEXPRESSPessengerTransportCo.,Ltd. | 34,568.85 | |
OtherPayableaccount | Guang-Shen-ZhuExpresswayCo.,Ltd. | 20,344.23 | |
OtherPayableaccount | GuangdongGuangzhuWestLineExpresswayCo.,Ltd. | 18,981.84 | |
OtherPayableaccount | GuangdongLitongInformationTechnologyInvestmentCo.,Ltd. | 16,376.20 | |
OtherPayableaccount | GuangdongWestCoastalExpresswayCo.,Ltd. | 3,342.12 | |
OtherPayableaccount | GuangdongYangmaoExpresswayCo.,Ltd. | 2,817.71 | |
OtherPayableaccount | ZhaoqingYuezhaoHighwayCo.,Ltd. | 2,388.80 | |
OtherPayableaccount | GuangdongTwoGuangExpresswayCo.,Ltd. | 1,603.02 | |
OtherPayableaccount | HeyuanHelongExpresswayCo.,Ltd. | 896.89 | |
OtherPayableaccount | GuangdongHehuiExpresswayCo.,Ltd. | 216.43 | |
Dividendpayable | XinyueHighwayConstructionCo.,Ltd. | 12,500,000.00 | |
Long-term | GuangdongJiangzhongExpresswayCo.,Ltd. | 36,000,000.00 |
Name | Relatedparty | Amountatyearend | Amountatyearbeginning |
Payable |
XIII.Stockpayment1.TheStockpaymentoverallsituation
□Applicable√Notapplicable
2.TheStockpaymentsettledbyequity
□Applicable√Notapplicable
3.TheStockpaymentsettledbycash
□Applicable√Notapplicable
4.Modificationandterminationofthestockpayment
Nil
5.Other
Nil
XIV.Commitments1.SignificantcommitmentsSignificantcommitmentsatbalancesheetdate
OnJune15,2016,theCompany’s29thmeeting(Provisional)oftheseventhboardofdirectorswasconvened.Inthemeeting,theProposalonIncreasingFundingforGuangdongFokaiExpresswayCo.,LtdpertainingtotheRenovationandExpansionProjectofSanbao-to-ShuikouSectionofShengyang-to-HaikouNationalExpresswaywasexaminedandapproved,agreedthatbasedontheapprovedtotalinvestmentamountbyrelevantgovernmentdepartment,thenthecompany’ssubsidiary-GuangdongFokaiExpresswayCo.,LtdcarriesouttheinvestmentandconstructionoftherenovationandexpansionprojectofSanbao-to-ShuikouSectionofShengyang-to-HaikouNationalExpressway;thecompanyincreasesfundingforGuangdongProvincialFokaiExpresswayCo.,LtdpertainingtotherenovationandexpansionprojectofSanbao-to-ShuikouSectionofShengyang-to-HaikouNationalExpressway,withthecontributedfundsasaproportionof35%ofthetotalinvestmentamountapprovedbyrelevantgovernmentdepartment.Theafore-saiditemhadbeenexaminedandapprovedinthefirstextraordinarygeneralshareholdermeeting,TheCompanyhadreceivedtheapprovaloftheNationalDevelopmentandReformcomissionabouttheuandongProvincialSantbao-ShuikouExpresswaySectionRebubuildingandExpansionProject(NO.1874-2016-NDRCInfrastructureDocument)fromGuangdongProvincelDevelopmentandreformCommissionOnOctober11,2016,agreedwiththeimplementationoftheGuangdongProvincial
Sanbao-ShuikouExpresswaySectionRebuildingandExpansionProject.It’sestimatedthatthetotalinvestmentofthisprojectisabout3.513billionyuan(thestaticinvestmentisabout3.289billionyuan),ofwhichtheprojectcapitalis1.23billionyuanthataccountsfor35%ofthetotalinvestmentandsuchamountoftheprojectcapitalwillbeprovidedbyGuangdongProvincialFokaiExpresswayCo.,Ltd,andtherestamountof2,283billionyuanwillbesolvedbyusingbankloans.Accordingtothe"OfficialReplytothepreliminarydesignofreconstructionandextensionprojectofGuangdongSanbaotoShuikouRoadbyMinistryofTransport"(No.73-2017TransportRoadDocument)issuedbyGuangdongProvincialDepartmentofTransport,theMinistryofTransportcheckedandratifiedthatthegeneralestimateofthepreliminarydesignofreconstructionandextensionprojectofGuangdongSanbaotoShuikouRoadis3.426billionyuan.AsofDecember31,2018,TheaccumulatedexpensesoccurredofSanbotoShuikouHighwayextensionprojectwas1.498billionyuan.
Theperformanceofmajorcontractsisasfollows:
No | ContractCounterparty | EconomicContent | ContractAmount | FulfilledasofDecember31,2018 |
1 | ChinaRailwayTunnelGroupCo.,Ltd. | CivilEngineering | 251,026,485.00 | 201,831,670.00 |
2 | GuangdongChangdaHighwayEngineeringCo.,Ltd. | CivilEngineering | 624,878,240.00 | 195,635,425.40 |
3 | ChinaRailway18thBureauGroupCo.,Ltd. | CivilEngineering | 219,974,609.00 | 148,619,889.20 |
4 | CCCCFirstNavigationEngineeringBureauCo.,Ltd | CivilEngineering | 355,014,108.00 | 206,039,193.12 |
2.Contingency(1)SignificantcontingencyatbalancesheetdateThismatter.didnotoccurinthisaccountingperiod.(2)TheCompanyhavenosignificantcontingencytodisclose,alsoshouldbestatedTherewasnosignificantcontingencyintheCompany.XV.Enentsafterbalancesheetdate1.SignificanteventshadnotadjustedNil
2.Profitdistribution
InRMB
Profitsordividendstobedistributed | 1,175,033,042.81 |
Profitsordividendsdeclaredtoissueafterexamination | 1,175,033,042.81 |
3.Salesreturn
Nil4.Notesofothersignificanteventafterbalancesheetdate
Nill
XVI.Othersignificantevents1.TheaccountingerrorscorrectioninpreviousperiodThismatter.didnotoccurinthisaccountingperiod.Duringthereportingperiod.
2.DebtrestructuringThismatter.didnotoccurinthisaccountingperiod.Duringthereportingperiod.3.Replacementofassets(1)Non-monetaryassetsexchange
Nil
(2)Replacementofotherassets
Nil
4.PensionplanThecompanydoesnotdisclosethepensionplanundisclosedmattershouldexist.5.DiscontinuingoperationThismatterdidnotoccurinthisaccountingperiod.Duringthereportingperiod,.6.SegmentinformationThecompany'sbusinessfortheGuangfoExpressway,theFokaiExpresswayandJingzhuExpresswayGuangzhuSectiontollcollectionandmaintenancework,thetechnologyindustryandprovideinvestmentadvice,noothernatureofthebusiness,noreportablesegment.
(4)Othernote
7.Otherimportanttransactionsandeventshaveanimpactoninvestorsdecision-making8.Other(1)June15,2007earlyinthemorning,The325JiujiangBridgecollapsedon#23pierfor―Nanguijii035#collisionownedbythecontrollingsubsidiaryofthecompanyGuangdongFokaiExpresswayCompanyleadsthecollapseandthetrafficjamof200meterslongoftheJiujiangBridge.OnJune10,2009,JiujiangBridgeopened
totraffichasbeenrestored.
OnJune19,2007,TheMinistryofCommunications,theStateProductionSafetySupervisionandAdministrationCommissionissuedtheJiaoAnWeimingFile[2007]No.8"NotificationontheGuangdong"6.15"JiujiangBridgeCollisionAccident",initiallydeterminedthecausesoftheaccidentare:theincidentshipsuddenlymetheavyfogonthewayfromFoshanGaomingtoSunde,thecaptainneglectedlookingout,didnottakepropermeasuresanddeviatedfromthemainchannel,touchedthe325NationalRoadJiujiangBridgethenon-navigationbridgepierandcausedthecollapsionofpartoftheJiujiangbridge.Theaccidentwasanunilateral
OnJuly19,2007,FokaiCompanyappliedpreservationofpropertytoGuangzhouMaritimeCourt.OnAugust22,2007,FokaiCompanyofficiallyprosecutedtoGuangzhouMaritimeCourt,askingFoshanSouthSeaShippingCompanyLimitedandYangXiongtoundertakethecompensation25,587,684yuanforthelosscausedbycollapsingofJiujiangBridge.OnAugust28,2007,GuangzhouMaritimeCourtacceptedthecase.Accordingtothe(2007)-CantonHaifaNo.332rulingbookissuedbyGuangzhouMaritimeCourt,theproceedingofthecasewassuspended.
Afterthecourtacceptedthecase,theincidentinvestigationteamofGuangdongProvincialGovernmenthadnotmadethefinalreportofJiujiangBridgeaccident.TheCourt,onNovember5,2007,decidedtosuspendtheproceeding.InSeptember2008,JiujiangBridgeaccidentinvestigationreportwasofficiallyreportedandresumedtheproceedings.OnDecember5,2008,GuangzhouMarineCourtopenedacourttrialtoprocceededthecase.Currently,GuangzhouHaizhuprosecutorialofficewasintendtoprosecutetheaccidentcaptainShiGuide,therefore,onJanuary5,2009,GuangzhouMaritimeCourtruledthesuspensionofthecase.OnSeptember17,2013,theGuangzhouMaritimeCourtissuedanoticeofcivilandeliminatethecauseofsuspensionofproceedings,thecourtdecidedtoresumethetrial.OnDecember19,2013,theGuangzhouMaritimeCourtopenedacourtsession,hasnotyetmadethefirst-instancejudgment.OnMarch7,2014theCourtmadethefirstinstanceverdict:
thedefendantFoshanNanhaiYuhangshipServicesCo.,Ltd.andYangXiongcompensatedtheplaintiffFokaiExpresswayCo.,Ltd.tollrevenuelossesof19,357,500.96yuan;thecourtdismissedtheplaintiffotheraspirations.ThedefendantappealedtotheHigherPeople'sCourtofGuangdongProvince,theGuangdongProvincialHigherPeople'sCourtruledonJune5,2014,thecasediscontinuedproceedings.Bytheendofthereportperiod,theabatementofactioncausesarealreadyremovedandtheprovincialhighercourtrestoresthehearingandconductstheinvestigationonApril21,2017.
(2)The26th(Provisional)MeetingofthesixthboardofdirectorsofGuangdongProvincialExpresswayDevelopmentCo.,Ltd.washeldofMay10,2012.ThemeetingexaminedandadoptedtheproposalConcerningtheCompany’sAcceptingtheinsuranceBondInvestmentPlanofPacificAssetManagementCo.,Ltd.TheCompanywasapprovedtoaccepttheinsurancebondinvestmentplanmadebyPacificAssetManagementCo.,Ltd.Theamountofproceedstoberaisedisnotmorethan1.5billionyuan.Floatinginterestrateplusguaranteedbaseinterestrateappliesastheinterestrate.TheFloainginterestrateshallnotexceedthebasicinterestrateofRMBloanwithatermofoverfiveyearsonthedaywhentheinvestmentfundoftheinsureancecompanyistransferredintotheCompany’saccountandthecorrespondingdaysofthefutureyears,whichshallbeadjustedonceeachyear.Theguaranteedbaseinterestrateis5.6%.TheconcreteamountofraisedproceedsshallbewithinmaximumlimitofinvestmentfundfiledwithCIRC.TheactualamountwhollytransferredtotheCompanyshallapply.ThefinalinterestrateissubjecttoinvestmentContractforBondInvestmentPlanbetweenPacificandGuangdongExpresswayFiledwithCIRC.ItwasapprovedtoauthorizethemanagementoftheCompanytoimplementtheabove-mentionedmatters.
TheCompanywasapprovedtoprovidecounterguaranteetoGuangdongCommunicationGroup
Co.,Ltd.with75%equityofGuangdongFokaiExpresswayCo.,Ltd.Heldbyit.asofDecember31,2016,thecompanyhasborrowed1.5billionyuan.(3)OnFebruary5,2016,thecompanyreceivedtheApprovaloftheShare-IssuingtoPartiessuchasGuangdongProvincialExpresswayCo.,LtdtoPurchaseAssetsandRaiseMatchingFundsbyGuangdongProvincialExpresswayDevelopmentCo.,Ltd(CSRCNo.230-2016ZhengJianXuke)issuedfromCSRC;thecompany’sschemeonshare-issuanceforpurchasingassetsandraisingmatchingfundshadbeenexaminedandapprovedbytheAuditCommitteeofCSRConVerifyingandApprovingMergers,AcquisitionsandRestructuringofListedCompanies.ThecompanyhascompletedassetrestructuringinJune2016.
Duringtheprofitcompensationperiod,inthecasethattheactualprofitsoftheunderlyingcompanywerelessthanthecommittedprofits,respectivelythecounterpartsofGuangdongProvincialExpresswayCo.,LtdandGuangdongProvincialHighwayConstructionCo.,LtdshallassumetheobligationofcompensationfortheprofitdifferenceaccordingtotheirequityproportionofGuangdongProvincialFokaiExpresswayCo.,LtdandGuangzhouGuangzhuTrafficInvestmentManagementCo.,Ltd.Theprofitcompensationperiodisthreeyearsfrom2016-2018.
AgreedbythecompanyandGuangdongProvincialExpresswayCo.,Ltd,theprofitsofFokaiExpresswayCo.,Ltdinyear-2016,year-2017andyear-2018byestimationshallaccordinglybe250.6973millionyuan,260.0802millionyuanand403.1197millionyuan,withtheaggregatednon-recurringgainsandlosseswereexpectedtobe105.5743millionyuan.Duringthecompensationperiod,inthecasethatthecumulativenetprofitsofFokaiExpresswayCo.,Ltdinacertainyearrealizedattheendoftheyeararelessthantheestimatedcumulativenetprofitsoftheyear,thecompanywill,atthepriceof1.0yuanpershare,buy-backthesharescalculatedinaccordancewiththeagreementforthepurposeofcompensationandthoseshareswillbewrittenoff,andiftheamountofcompensationexceedstheconsiderationofthosesharesbeingbought-back,GuangdongProvincialExpresswayCo.,Ltdwillcompensatethatpartincash.Attheexpirationofthecompensationperiod,iftheaccumulativeactualnon-recurringgainsandlosses(referringtothegovernment’scompensationtoGuangdongProvincialFokaiExpresswayCo.,LtdduetothecancellationoftollchargeofJiujiangbridge,hereinaftershortlynamedas“JiujiangBridgeCompensation”)ofFokaiExpresswayCo.,Ltdwerelessthantheestimatedaccumulativenon-recurringgainsandlosses,GuangdongProvincialExpresswayCo.,Ltdwill,uponthebasisofthestakeproportionheldbyFokaiExpresswayCo.,Ltdbeforethemajorassetrestructuring,compensateincashtothecompanyinaccordancewiththeagreement;Ifitisaftertheexpirationofthecompensationperiod,everytimewhenFokaiExpresswayCo.,LtdreceivedJiujiangBridgeCompensation,thecompanyshouldrefundthecorrespondingpartwhichhadbeenpaidbyGuangdongProvincialExpresswayCo.,LtdforthecompensationinaccordancewiththeagreementtoGuangdongProvincialExpresswayCo.,Ltdwithin30workingdaysstartedfromthedateFokaiExpresswayCo.,Ltdreceivedsuchcompensation.
AgreedbythecompanyandGuangdongProvincialHighwayConstructionCo.,Ltd,theprofitsofGuangzhouGuangzhuTrafficInvestmentManagementCo.,Ltdinyear-2016,year-2017andyear-2018byestimationshallaccordinglybe230.3606millionyuan,263.2329millionyuanand286.5018millionyuan.Duringthecompensationperiod,inthecasethatthecumulativenetprofitsofGuangzhouGuangzhuTrafficInvestmentManagementCo.,Ltdrealizedattheendoftheyeararelessthantheestimatedcumulativenetprofitsoftheyear,thecompanywill,atthepriceof1.0yuanpershare,buy-backthesharesheldbyGuangdongProvincialHighwayConstructionCo.,Ltdwiththequantitybeingcalculatedupontheagreementforcompensationandthoseshareswillbewrittenoff.
GuangdongFokaiExpresswayCo.,Ltd.in2016theactualprofit(excludingnon-)by286.1655millionyuan,morethanthecommitmenttoprofitmorethan35.4682millionyuan;In2017,thesimulatedactualprofit
(excludingnon-)by314.7091yuan,morethanthecommitmenttoprofitmorethan54.6289millionyuan;In2018,thesimulatedactualprofit(excludingnon-)by373.7611yuan,morethanthecommitmenttoprofitmorethan29.3586millionyuan;Asoftheendof2018,thecumulativesimulatedactualprofit(deductedthenon-recurringgainsandlosses)was974,635,700yuan,whichwas60,738,500yuanmorethantheaccumulatedpromisedprofit.Andthecompensationof140,765,700yuanforthelossesarisingfromthepromisedahead-of-timecancellationoffeeschargeofJiujiangBridgwasreceivedinfull.
GuangzhouGuangzhuTrafficInvestmentManagementCo.,Ltd.in2016theactualprofit(excludingnon-)by271.7759millionyuan,morethanthecommitmenttoprofitmorethan41.4153millionyuan;In2017,theactualprofit(excludingnon-)by321.5034yuan,morethanthecommitmenttoprofitmorethan58.2705millionyuan;In2018,thesimulatedactualprofit(excludingnon-)by324.7562yuan,morethanthecommitmenttoprofitmorethan38.2544millionyuan;Asoftheendof2018,thecumulativeactualprofitwas918.0355yuan,whichwas137.9402millionyuanmorethantheaccumulatedpromisedprofit.(4)OnApril10,2018,thecompanyreceivedaletterfromtheshareholderYadongFuxingnYalianInvestmentCo.,Ltd.OnFebruary8,2018,YadongFuxingCompanypledgedinbatchesoftheGuangdongExpresswayAsharesthatwerepreviouslypledgedintheGuotaiJunanSecuritiesCo.,Ltd,andhandledthestockpledgefinancingagreementofGuangdongExpresswayAshareswiththeChinaYinheSecuritiesCo.,Ltd.The141,600,000sharesheldbytheYadongFuxingCompanyandaccountedfor6.77%ofthecompany'stotalsharecapitalwerepledgedtotheChinaYinheSecuritiesCo.,Ltdforthefinancing,withthepledgeperiodstartingfromApril3,2018.
OnJune28,2018,YadongFosunadded15,052,500sharesofGuangdongExpresswayAsharesinpledgetoChinaGalaxySecuritiesCo.,Ltd.toreplenishthepledgeinordertowithdrawalofstockdividendsintheaccount.Asofthedateofapprovalofreportofthisfinancialstatement,YadongFosunholds202,429,149AsharesoftheCompany,accountingfor9.68%ofthetotalsharecapitaloftheCompany,ofwhich156,652,500sharesarepledged-accountingfor7.49%ofthetotalsharecapitaloftheCompany.(5)Thenineteenth(interim)meetingoftheeighthboardofdirectorsofthecompanywasheldonAugust7,2018.ThemeetingdeliberatedandadoptedtheproposalontheIssuanceofmedium-termbills,agreeingthatthecompany'sregistrationquotaintheChinaInterbankMarketTradersAssociation(hereinafterreferredtoas"TradersAssociation")shouldnotexceed3.4billionyuan(including)ofthevotes,andthequotashouldbewithin40%ofthecompany'snetassetsauditedinthelatestissue.Applyforone-timeorstagedissuance,theperiodisnotlessthan5years(including5years),raisefundsforrepaymentofloansandsupplementaryoperatingfunds,etc.Thematterhasbeenadoptedbythefirstprovisionalshareholders'meetingin2018.
OnJanuary4,2019,theTraders'AssociationissuedtheNoticeofAcceptanceofRegistration(MTN9ofZhongshiAssociation[2019]),acceptingtheregistrationamountofthecompany'smedium-termbillsfor3.4billionyuan.Theamountofregistrationisvalidfortwoyearsfromthedateofacceptingthepaymentoftheregistrationnotice,andisjointlyunderwrittenbyIndustrialandCommercialBankofChinaandChinaConstructionBankLimited.FromFebruary27to28,2019,thecompanyissuedthefirstinterimbillsof2019withatotalamountof680millionyuan.ThefundraisedwastransferredtothedesignatedaccountofthecompanyonMarch1,2019.
XVII.Notesofmainitemsinfinancialreportsofparentcompany1.NotereceivableandAccountreceivable
InRMB
Items | Year-endbalance | Year-beginning |
Notereceivable | 0.00 | 0.00 |
Accountreceivable | 18,405,847.15 | 19,001,899.29 |
Total | 18,405,847.15 | 19,001,899.29 |
(1)Notereceivable
Nil
(2)Accountreceivable
(1)Accountreceivableclassifiedbycategory
InRMB
Category | Year-endbalance | Year-beginning | ||||||||
Bookbalance | Provisionforbaddebts | Bookvalue | Bookbalance | Provisionforbaddebts | Bookvalue | |||||
Amount | Proportion(%) | Amount | Proportion(%) | Amount | Proportion(%) | Amount | Proportion(%) | |||
Accountreceivablewithsinglemajoramountandwithdrawalbaddebtprovisionforsingleitem | 18,405,847.15 | 100.00% | 18,405,847.15 | 19,001,899.29 | 100.00% | 19,001,899.29 | ||||
Total | 18,405,847.15 | 100.00% | 18,405,847.15 | 19,001,899.29 | 100.00% | 19,001,899.29 |
-Receivableaccountswithlargeamountindividuallyandbaddebtprovisionswereprovided√Applicable□Notapplicable
InRMB
Name | Year-endbalance | |||
Receivableaccounts | Baddebtprovision | Proportion | Reason | |
GuangdongUnionElectronicServicesCo.,Ltd. | 18,405,847.15 | Itisexpectedtobefullyrecoveredafterasingletest | ||
Total | 18,405,847.15 | -- | -- |
Accountreceivableonwhichbaddebtprovisionsareprovidedonagebasisinthegroup:
□Applicable√NotapplicableInthegroups,accountsreceivableadoptingbalancepercentagemethodtowithdrawbaddebtprovision:
□Applicable√NotapplicableInthegroups,accountsreceivableadoptingothermethodstoaccruebaddebtprovision::
Nil
(2)Accrualperiod,recoveryorreversalofbaddebtssituationThecurrentamountofprovisionforbaddebtsis0.00yuan;recoveryorpaybackforbaddebtsAmountis0.00yuan.Wherethecurrentbaddebtsbackorrecoversignificantamounts:Nil(3)Thecurrentaccountsreceivablewrite-offssituation
Nil
(4)Theendingbalanceofotherreceivablesowedbytheimputationofthetopfiveparties
Name | Amount | Aging | Proportion(%) | Baddebtprovision |
GuangdongUnionElectronicServicesCo.,Ltd. | 18,405,847.15 | Within1year | 100.00 | |
Total | 18,405,847.15 | 100.00 |
(5)AccountreceivablewhichterminatetherecognitionowningtothetransferofthefinancialassetsNil(6)TheamountoftheassetsandliabilitiesformedbythetransferandthecontinuesinvolvementofaccountsreceivableNil4.Otheraccountsreceivable
InRMB
Items | Balanceinyear-end | Balanceinyear-begin |
Interestreceivable | 1,880,148.12 | 2,070,385.95 |
Dividendreceivable | 1,205,472.90 | 10,000,000.00 |
Other | 6,238,161.64 | 5,298,202.17 |
Total | 9,323,782.66 | 17,368,588.12 |
(1)Interestreceivable
1)Classificationofinterestreceivable
InRMB
Items | Balanceinyear-end | Balanceinyear-begin |
Entrustedloan | 1,880,148.12 | 2,070,385.95 |
Total | 1,880,148.12 | 2,070,385.95 |
2)ImportantoverdueinterestNil
(2)Dividendreceivable
1)Dividendreceivable
InRMB
Items | Balanceinyear-end | Balanceinyear-begin |
JingzhuExpresswayGuangzhuSectionCo.,Ltd. | 10,000,000.00 | |
GuangdongRadioandTelevisionNetworksinvestmentNo.1Limitedpartnershipenterprise | 1,205,472.90 | |
Total | 1,205,472.90 | 10,000,000.00 |
(2)Significantdividendreceivableagedover1yearNil
(3)Otheraccountsreceivable
(1)Otheraccountsreceivabledisclosedbycategory
InRMB
Type | Balanceinyear-end | Balanceinyear-begin | ||||||||
BookBalance | Baddebtprovision | Bookvalue | BookBalance | Baddebtprovision | Bookvalue | |||||
Amount | Proportion(%) | Amount | Proportion(%) | Amount | Proportion(%) | Amount | Proportion(%) | |||
OtherAccountreceivablewithsinglemajoramountandwithdrawalbaddebtprovisionforsingleitem | 30,844,110.43 | 83.18% | 30,844,110.43 | 100.00% | 32,084,893.35 | 82.44% | 32,084,893.35 | 100.00% | ||
OtherAccountreceivablewithdrawalbaddebtprovisionbygroupofcreditriskcharacteristics | 6,238,161.64 | 16.82% | 6,238,161.64 | 6,832,189.43 | 17.56% | 1,533,987.26 | 22.45% | 5,298,202.17 | ||
Total | 37,082,272.07 | 100.00% | 30,844,110.43 | 83.18% | 6,238,161.64 | 38,917,082.78 | 100.00% | 33,618,880.61 | 86.39% | 5,298,202.17 |
Otherreceivableaccountswithlargeamountandwereprovidedhaddebtprovisionsindividuallyatendofperiod.√Applicable□Notapplicable
InRMB
Otherreceivable(Unit) | Balanceinyear-end | |||
Otherreceivable | Baddebtprovision | Proportion | Reason | |
KunlunSercuritiesCo.,Ltd. | 30,844,110.43 | 30,844,110.43 | 100.00% | Theparentcompanyoncepaid33,683,774.79yuanintoKunlunSecuritiesCo.,Ltd,GuangdongExpresswaytechnologyinvestmentCo.,Ltdoncepaid18,000,000.00yuanintoKunlunSecuritiesCo.,Ltd.QinghaiProvinceXiningCity’sintermediatepeople’scourtmadeaadjudicationunderlawdeclaredthatKunlunSecuritiesCo.,LtdwentbankruptandrepaiddebtinNovember11,2006.OnMarch2007,TheCompanyandGuangdongExpresswayTechnologyInvestmentCo.,LtdhadswitchedthemoneythatpaidintoKunlunSecutitiesCo.,Ltdtootheraccountreceivable,andfollowthecarefulprincipletodoubtfuldebtsprovision.The485,392.67yuanCreditwasRecoveredin2008,andtheprovisionforbaddebtisdeducted,The667,959.27yuancreditwasrecoveredin2011,andtheprovisionforhaddebtisdeducted.The445,529.50yuanCriditwasrecoveredin2014,The1,240,782.92yuanCriditwasrecoveredin2018,andtheprovisionforhaddebtisdeducted. |
Total | 30,844,110.43 | 30,844,110.43 | -- | -- |
OtherreceivableaccountsinGrouponwhichbaddebtprovisionswereprovidedonageanalyzebasis:
√Applicable□Notapplicable
InRMB
Aging | Amountinyear-end | ||
Otherreceivable | Baddebtprovision | Withdrawalproportion | |
Subitemwithin1year | |||
Subtotalwithin1year | 3,193,326.76 | ||
Total | 3,193,326.76 |
Notesofthebasisofrecognizingthegroup:
Inthegroups,otheraccountsreceivableadoptingbalancepercentagemethodtowithdrawbaddebtprovision□Applicable√NotapplicableInthegroups,otheraccountsreceivableadoptingothermethodstoaccruebaddebtprovision:
√Applicable□Notapplicable
Name | Amountinyear-end | |||
Otheraccountreceivable | Baddebtprovision | Withdrawalproportion(%) | Reason | |
Qualityguarantee | 1,930,943.00 | Deposit,Guarantee | ||
Relatedpartytransactionswithinthescopeofmerger | 650,400.00 | Relatedpartytransactions | ||
Other | 463,491.88 | Relatedpartytransactions | ||
Total | 3,044,834.88 |
OtherreceivableswithminorindividualamountandbaddebtprovisionprovidedindividuallyNil
(2)Accrualperiod,recoveryorreversalofbaddebtssituationThecurrentamountofprovisionforbaddebtsis0.00yuan;recoveryorpaybackforbaddebtsAmountis1,240,782.92yuan.Wherethecurrentbaddebtsbackorrecoversignificantamounts
InRMB
Name | Amount | Way | Reason | Basis |
KunlunSecuritiesCo.,Ltd. | 1,240,782.92 | Receivedbankdeposit | Liquidationgroupallocation | Itisnotexpectedtorecoverthefullprovisionforbaddebts |
Total | 1,240,782.92 | -- |
(3)Theactualwrite-offotheraccountsreceivable
InRMB
Items | Amount |
Theactualwrite-offotheraccountsreceivable | 1,533,987.26 |
Includingsignificantotherreceivable:
InRMB
Name | Nature | Amount | Reason | Writing-offprocedure | Relatedtransaction |
HeshanTrafficRealestateDevelopmentCo.,Ltd. | Other | 1,470,000.00 | Itisnotexpectedtorecover | Boardapproval | No |
Total | -- | 1,470,000.00 | -- | -- | -- |
Note:
(4)Otheraccountsreceivableclassifiedbythenatureofaccounts
InRMB
Nature | Closingbookbalance | Openingbookbalance |
Securitiestradingsettlementfundsbalance | 30,844,110.43 | 32,084,893.35 |
Guaranteedeposit | 1,930,943.00 | 1,929,135.70 |
Prettycash | 1,605,100.00 | 1,505,100.00 |
Advertisingandservicefee | 203,133.13 | |
Other | 2,051,718.64 | 3,194,820.60 |
Relatedtransactionswithinthescopeofconsolidation | 650,400.00 | |
Total | 37,082,272.07 | 38,917,082.78 |
(5)Top5oftheclosingbalanceoftheotheraccountsreceivablecollectedaccordingtothearrearsparty
InRMB
Name | Nature | Closingbalance | Aging | Proportionofthe | Closingbalanceof |
totalyearendbalanceoftheaccountsreceivable(%) | baddebtprovision | ||||
KunlunSecuritiesCo.,Ltd | Securitiestradingsettlementfunds | 30,844,110.43 | Over5years | 83.18% | 30,844,110.43 |
GuangdongLitongRealEstatesInvestmentCo.,Ltd. | Deposit | 1,505,864.00 | 1-2years | 4.06% | |
Prettycash | Prettycash | 1,270,000.00 | Within1year | 3.42% | |
GuangdongExpresswayTechnologyInvestmentCo.,Ltd. | Receivablerent | 650,400.00 | Within1year | 1.75% | |
GuangdongExpresswayCo.,Ltd. | Entrustmentmanagementfee | 463,491.88 | 3-4years | 1.25% | |
Total | -- | 34,733,866.31 | -- | 93.66% | 30,844,110.43 |
(6)AccountsreceivableinvolvedwithgovernmentsubsidiesNil(7)OtheraccountreceivablewhichterminatetherecognitionowningtothetransferofthefinancialassetsNil(8)Theamountoftheassetsandliabilitiesformedbythetransferandthecontinuesinvolvementofotheraccountsreceivable
Nil
3.Long-termequityinvestment
InRMB
Items | Endofterm | Beginningofterm | ||||
BookBalance | Impairmentprovision | Bookvalue | BookBalance | Impairmentprovision | Bookvalue | |
Investmentinsubsidiaries | 1,533,665,008.81 | 1,533,665,008.81 | 5,169,662,219.66 | 5,169,662,219.66 | ||
Investmentinjointventuresandassociates | 3,145,644,970.07 | 3,145,644,970.07 | 3,047,275,000.00 | 3,047,275,000.00 | ||
Total | 4,679,309,978.88 | 4,679,309,978.88 | 8,216,937,219.66 | 8,216,937,219.66 |
(1)Investmenttothesubsidiary
InRMB
Name | Openingbalance | Increase | Decrease | Closingbalance | Withdrawnimpairmentprovisioninthereportingperiod | Closingbalanceofimpairmentprovision |
Guangfo | 154,982,475.25 | 154,982,475.25 |
ExpresswayCo.,ltd. | ||||
GuangdongExpresswayTechnologyInvestmentCo.,Ltd. | 95,731,882.42 | 95,731,882.42 | ||
GuangdongFokaiExpresswayCo.,Ltd. | 3,635,997,210.85 | 3,635,997,210.85 | 0.00 | |
GuangzhouGuangzhuCommunicationInvestmentManagementCo.,Ltd. | 859,345,204.26 | 859,345,204.26 | ||
JingzhuExpresswayGuangzhuSectionCo.,Ltd. | 419,105,446.88 | 419,105,446.88 | ||
YuegaoCapitalInvestment(Hengqin)Co.,Ltd. | 4,500,000.00 | 4,500,000.00 | ||
Total | 5,169,662,219.66 | 3,635,997,210.85 | 1,533,665,008.81 |
(2)Investmenttojointventuresandassociatedenterprises
InRMB
Name | Openingbalance | Increase/decreaseinreportingperiod | Closingbalance | Closingbalanceofimpairmentprovision | |||||||
Addinvestment | Decreasedinvestment | Gain/lossofInvestment | Adjustmentofothercomprehensiveincome | Otherequitychanges | Declarationofcashdividendsorprofit | Withdrawnimpairmentprovision | Other | ||||
I.Jointventures | |||||||||||
GuangdongGuanghuiExpresswayCo.,Ltd. | 949,906,833.96 | 290,709,616.82 | 26,710,620.00 | 274,805,847.20 | 992,521,223.58 | ||||||
ZhaoqingYuezhaoHighwayCo.,Ltd. | 291,906,117.18 | 58,355,080.40 | 43,088,859.48 | 307,172,338.10 | |||||||
Subtotal | 1,241,812,951.14 | 349,064,697.22 | 26,710,620.00 | 317,894,706.68 | 1,299,693,561.68 | ||||||
II.Associatedenterprises | |||||||||||
ShenzhenHuiyanExpresswayCo.,Ltd. | 196,197,198.21 | 34,356,558.66 | 230,553,756.87 | ||||||||
GuangdongJiangzhongExpresswayCo.,Ltd. | 173,502,304.11 | 11,806,234.72 | 9,983,895.07 | 175,324,643.76 | |||||||
GanzhouKangdaExpresswayCo.,Ltd. | 208,768,922.86 | 32,216,095.66 | 21,000,000.00 | 219,985,018.52 | |||||||
GanzhouGankangExpresswayCo.,Ltd. | 204,404,703.35 | 5,591,207.36 | 209,995,910.71 | ||||||||
GuangdongYuekeTechnologyPettyLoanCo.,Ltd. | 215,548,332.90 | 15,134,350.84 | 10,989,125.47 | 219,693,558.27 | |||||||
GuoyuanSecuritiesCo.,Ltd. | 807,040,587.43 | 15,703,921.74 | -20,400,286.56 | -5,404.45 | 11,940,297.90 | 790,398,520.26 | |||||
Subtotal | 1,805,462,048.86 | 114,808,368.98 | -20,400,286.56 | -5,404.45 | 53,913,318.44 | 1,845,951,408.39 | |||||
Total | 3,047,275,000.00 | 463,873,066.20 | -20,400,286.56 | 26,705,215.55 | 371,808,025.12 | 3,145,644,970.07 |
(3)Othernote
4.BusinessincomeandBusinesscost
InRMB
Items | Amountofcurrentperiod | Amountofpreviousperiod | ||
Revenue | Cost | Revenue | Cost | |
Mainbusiness | 1,327,567,186.19 | 707,219,409.98 | 553,779,699.47 | 330,893,919.46 |
Other | 79,985,567.22 | 7,948,012.97 | 80,104,649.29 | 4,015,303.85 |
Total | 1,407,552,753.41 | 715,167,422.95 | 633,884,348.76 | 334,909,223.31 |
Othernote
5.Investmentincome
InRMB
Items | Amountofcurrentperiod | Amountofpreviousperiod |
Long-termequityinvestmentincomeaccountedbycostmethod | 621,221,266.51 | 1,095,070,873.20 |
Long-termequityinvestmentincomeaccountedbyequitymethod | 463,873,066.20 | 423,940,445.45 |
Investmentlossthroughdisposaloflong-termequityinvestment | 685,975,224.36 | |
Investmentincomereceivedfromholdingofavailable-for–salefinancialassets | 43,786,617.76 | 24,327,921.74 |
Total | 1,814,856,174.83 | 1,543,339,240.39 |
XVIII.SupplementaryInformation1.Currentnon-recurringgains/losses
√Applicable□Notapplicable
InRMB
Items | Amount | Notes |
Gains/Lossesonthedisposalofnon-currentassets | 63,173,138.25 | |
Governmentgrantsrecognizedinthecurrentperiod,exceptforthoseacquiredintheordinarycourseofbusinessorgrantedatcertainquotasoramountsaccordingtothecountry’sunifiedstandards | 1,113,228.32 | |
Netamountofnon-operatingincomeandexpenseexcepttheaforesaiditems | -1,545,368.05 | |
Less:.Amountofinfluenceofincometax | -230,679,518.30 | AfterthecancellationofGuangdongFokaiExpresswayCo.,Ltd.,thedeferredincometaxassetsof246,010,541.19yuanwererecognizedforthelossofequitydisposal. |
Amountofinfluenceofminorityinterests | 11,833,729.46 |
Total | 281,586,787.36 | -- |
FortheCompany’snon-recurringgain/lossitemsasdefinedintheExplanatoryAnnouncementNo.1oninformationdisclosureforCompaniesOfferingtheirSecuritiestothePublic-Non-recurringGainsandLossesanditsnon-recurringgain/lossitemsasillustratedintheExplanatoryAnnouncementNo.1oninformationDisclosureforCompaniesofferingtheirsecuritiestothepublic-non-recurringGainsandlosseswhichhavebeendefinedasrecurringgainsandlosses,itisnecessarytoexplainthereason.□Applicable√Notapplicable2.Returnonequity(ROE)andearningspershare(EPS)
Profitasofreportingperiod | WeightedaverageROE(%) | EPS(Yuan/share) | |
EPS-basic | EPS-diluted | ||
NetprofitattributabletocommonshareholdersoftheCompany | 18.37% | 0.80 | 0.80 |
NetprofitattributabletocommonshareholdersoftheCompanyafterdeductionofnon-recurringprofitandloss | 15.29% | 0.67 | 0.67 |
3.Differencesbetweenaccountingdataunderdomesticandoverseasaccountingstandards(1)DifferencesofnetprofitandnetassetsdisclosedinfinancialreportspreparedunderinternationalandChineseaccountingstandards□Applicable√Notapplicable(2)DifferencesofnetprofitandnetassetsdisclosedinfinancialreportspreparedunderoverseasandChineseaccountingstandards□Applicable√Notapplicable
(3)Explainreasonsforthedifferencesbetweenaccountingdataunderdomesticandoverseasaccountingstandards,forauditdataadjustingdifferenceshadbeenforeignaudited,shouldindicatethenameoftheforeigninstitutionsNil
XII.DocumentsAvailableforInspection1.Accountingstatementscarriedwithpersonalsignaturesandsealsoflegalrepresentative,ChiefFinancialofficerandFinancialPrincipal.2.OriginalofAuditors’ReportcarriedwiththesealofCertifiedPublicAccountantsaswellaspersonalsignaturesofcertifiedPublicaccountants.3.ThetextsofalltheCompany'sdocumentspubliclydisclosedonthenewspapersandperiodicalsdesignatedbyChinaSecuritiesRegulatoryCommissioninthereportperiod.