2020
StockCode:000613,200613ShortFormoftheStock:Dadonghai-A,Dadonghai-B
海南大东海旅游中心股份有限公司HainanDadonghaiTourismCentre(Holdings)Co.,Ltd.
Semi-AnnualReport2020
(Full-text)
DisclosureDate:22August2020
2020
SectionI.ImportantNotice,ContentsandInterpretationImportantNotice:
BoardofDirectors,SupervisoryCommittee,alldirectors,supervisorsandseniorexecutivesofHainanDadonghaiTourismCentre(Holdings)Co.,Ltd.(hereinafterreferredtoastheCompany)herebyconfirmthattherearenoanyfictitiousstatements,misleadingstatements,orimportantomissionscarriedinthisreport,andshalltakeallresponsibilities,individualand/orjoint,forthereality,accuracyandcompletionofthewholecontents.YuanXiaoping,PrincipaloftheCompany,FuZongren,personinchargeofaccountingworksandFuZongren,personinchargeofaccountingorgan(accountingprincipal)herebyconfirmthattheFinancialReportof2020Semi-AnnualReportisauthentic,accurateandcompleteAlldirectorsareattendingtheBoardMeetingforReportdeliberation.TheCompanyhasnoplanofcashdividendscarriedout,bonusissuedandcapitalizingofcommonreserveseither.Concerningtheforward-lookingstatementswithfutureplanninginvolvedintheReport,theydonotconstituteasubstantialcommitmentforinvestors.Investorsareadvisedtoexercisecautionofinvestmentrisks.
Content
Semi-annualReport2020 ...... 1
SectionIImportantNotice,ContentandInterpretation ...... 4
SectionIICompanyProfileandMainFinancialIndexes ...... 4
SectionIIISummaryofCompanyBusiness ...... 7
SectionIVDiscussionandAnalysisofOperation ...... 9
SectionVImportantEvents ...... 16
SectionVIParticularaboutChangesinsharesandshareholders ...... 25
SectionVIIPreferredStock ...... 30
SectionVIIIConvertibleBonds ...... 31
SectionIXParticularsaboutDirectors,SupervisorsandSeniorExecutives ...... 32
SectionXCorporateBond ...... 33
SectionXIFinancialReport ...... 34
SectionXIIDocumentsavailableforreference ...... 126
2020
InterpretationItemsReferstoContentsCSRCReferstoChinaSecuritiesRegulationCommissionSSEReferstoShenzhenStockExchangeCompanyLawReferstoCompanyLawofThePeople’sRepublicofChinaSecuritiesLawReferstoSecuritiesLawofThePeople’sRepublicofChinaCompanyortheCompanyReferstoHainanDadonghaiTourismCentre(Holdings)Co.,Ltd.ArticleofAssociationRefersto
ArticleofAssociationofHainanDadonghaiTourismCentre(Holdings)Co.,Ltd.Shareholders’GeneralMeetingRefersto
Shareholders’GeneralMeetingofHainanDadonghaiTourismCentre(Holdings)Co.,Ltd.BoardofDirectors(BOD)Refersto
BoardofDirectorsofHainanDadonghaiTourismCentre(Holdings)Co.,Ltd.SupervisoryCommitteeRefersto
SupervisoryCommitteeofHainanDadonghaiTourismCentre(Holdings)Co.,Ltd.YuanReferstoCNY/RMB
RiskWarningSecuritiesTimes,HongKongCommercialDailyandJuchaoWebsite(www.cninfo.com.cn)arethemediaforinformationdisclosureappointedbytheCompanyforyearof2020,allinformationunderthenameoftheCompanydisclosedontheabovesaidmediashallprevail.ThereportispreparedinbilingualversionsofChineseandEnglishrespectively,intheeventofanydiscrepancyinunderstandingthetwoaforementionedversions,theChineseversionshallprevail.Investorsareadvisedtoexercisecautionofinvestmentrisks.
2020
SectionIICompanyProfileandMainFinancialIndexes
I.CompanyprofileShortformofthestockDadonghai-A,Dadonghai-BStockcode000613,200613ShortformoftheStockafterchangedN/AStockexchangeforlistingShenzhenStockExchangeNameoftheCompany(inChinese)ShortformoftheCompany(inChinese)ForeignnameoftheCompanyHainanDadonghaiTourismCentre(Holdings)Co.,LtdForeignnameofshortformoftheCompanyDADONGHAILegalrepresentativeYuanXiaopingII.Person/Waytocontact
SecretaryoftheBoardRep.ofsecurityaffairsNameWangHongjuanContactadd.DadonghaiSanyaTel.0898-88219921Fax.0898-88214998E-mailhnddhhn@21cn.comIII.Others
1.Wayofcontact
Whetherregistrationsaddress,officesaddressandcodesaswellaswebsiteandemailoftheCompanychangedinreportingperiodornot
□Applicable√Notapplicable
Registrationsaddress,officesaddressandcodesaswellaswebsiteandemailoftheCompanyhavenochangeinreportingperiod,foundmoredetailsinAnnualReport2019.
2.Informationdisclosureandpreparationplace
Whetherinformationdisclosureandpreparationplacechangedinreportingperiodornot
□Applicable√Notapplicable
Thenewspaperappointedforinformationdisclosure,websiteforsemi-annualreportpublishappointedbyCSRCandpreparation
2020
placeforsemi-annualreporthavenochangeinreportingperiod,foundmoredetailsinAnnualReport2019.IV.MainaccountingdataandfinancialindexesWhetherithasretroactiveadjustmentorre-statementonpreviousaccountingdata
□Yes√No
Currentperiod
Sameperiodoflastyear
Increase/decreaseinthisreport
y-o-yOperatingrevenue(RMB)4,981,872.0014,241,961.04-65.02%Netprofitattributabletoshareholdersofthelistedcompany(RMB)
-6,631,450.42755,974.01-977.21%Netprofitattributabletoshareholdersofthelistedcompanyafterdeductingnon-recurringgainsandlosses(RMB)
-6,547,754.87595,943.55-1,198.72%Netcashflowarisingfromoperatingactivities(RMB)-4,789,190.921,269,416.65-477.27%Basicearningspershare(RMB/Share)-0.01820.0021-966.67%Dilutedearningspershare(RMB/Share)-0.01820.0021-966.67%WeightedaverageROE(%)-8.82%0.97%-9.79%
Endofcurrentperiod
Endoflastperiod
Increase/decreaseinthisreport-endoverthatoflast
period-endTotalassets(RMB)98,516,771.4687,521,184.2512.56%Netassetsattributabletoshareholderoflistedcompany(RMB)
71,855,153.5478,486,603.96-8.45%V.DifferenceoftheaccountingdataunderaccountingrulesinandoutofChina
1.Differenceofthenetprofitandnetassetsdisclosedinfinancialreport,underbothIAS(InternationalAccountingStandards)andChineseGAAP(GenerallyAcceptedAccountingPrinciples)
□Applicable√Notapplicable
TheCompanyhadnodifferenceofthenetprofitornetassetsdisclosedinfinancialreport,undereitherIAS(InternationalAccountingStandards)orChineseGAAP(GenerallyAcceptedAccountingPrinciples)intheperiod.
2.Differenceofthenetprofitandnetassetsdisclosedinfinancialreport,underbothforeignaccountingrulesandChineseGAAP(GenerallyAcceptedAccountingPrinciples)
□Applicable√Notapplicable
TheCompanyhadnodifferenceofthenetprofitornetassetsdisclosedinfinancialreport,undereitherforeignaccountingrulesorChineseGAAP(GenerallyAcceptedAccountingPrinciples)intheperiod.
2020
VI.Itemsandamountsofextraordinaryprofit(gains)/loss
√Applicable□Notapplicable
InRMBItemAmountNoteGains/lossesfromthedisposalofnon-currentasset(includingthewrite-offthataccruedforimpairmentofassets)
-19,129.52LossesofscrappedfixedassetsGovernmentsubsidycalculatedintocurrentgainsandlosses(whilecloselyrelatedwiththenormalbusinessoftheCompany,excludingthefixed-amountorfixed-proportiongovernmentalsubsidyaccordingtotheunifiednationalstandard)
262,840.35
RewardsfordevelopmentofinboundtourismmarketsupportingbythegovernmentandtaxcreditfortheVATinputtaxsurchargeOthernon-operatingincomeandexpenditureexceptfortheaforementioneditems
-327,406.38
CompensationforearlyterminationofthecontractsandotherrevenueOtherrevenueTotal-83,695.55--Concerningtheextraordinaryprofit(gain)/lossdefinedbyQ&AAnnouncementNo.1onInformationDisclosureforCompaniesOfferingTheirSecuritiestothePublic---ExtraordinaryProfit/loss,andtheitemsdefinedasrecurringprofit(gain)/lossaccordingtothelistsofextraordinaryprofit(gain)/lossinQ&AAnnouncementNo.1onInformationDisclosureforCompaniesOfferingTheirSecuritiestothePublic---ExtraordinaryProfit/loss,explainreasons
□Applicable√Notapplicable
Inreportingperiod,theCompanyhasnoparticularaboutitemsdefinedasrecurringprofit(gain)/lossaccordingtothelistsofextraordinaryprofit(gain)/lossinQ&AAnnouncementNo.1onInformationDisclosureforCompaniesOfferingTheirSecuritiestothePublic---ExtraordinaryProfit/loss
2020
SectionIIISummaryofCompanyBusinessI.MainbusinessesofthecompanyinthereportingperiodTheCompany'smainbusinessishotelaccommodationandcateringservices.Procurementofgoodsismainlythegoodsandmaterialsnecessaryforhotelandcateringoperationsbytakingtheprincipleoflowpriceandfinequality,somegoodsarepurchasedbydirectlysigningpurchasecontractswithsuppliers,andsomegoodarepurchasedbyprocurementagents.Theoperationaremainlyincludingthenetworkbillingandoverseastravelagencyteam,andsupplementedbytheindividualtravelersofnon-internetmarketingandbusinessandthetouristsfromtravelagencies.ThehotelislocatedatthecentralzoneofDadonghaiscenicspotinSanyaCity,HainanProvince,andithasbecomeamemberofthenationwidefamoushotelsbecauseoftheconvenienttransportation,beautifulenvironment,longhistory,andrichculture.However,inrecentyears,thelocalhigh-,middle-andlow-gradehotelsorguesthousesnumerouslyemerge,resultinginthesupplymuchlargerthanthemarketdemand,theindustrycompetitionisratherfierce,andthepressureofdeclineinbusinessremains.II.Majorchangesinmainassets
1.Majorchangesinmainassets
MajorassetsNoteofmajorchangesMonetaryfunds
Increased10.4097millionyuanwithanincreaseof140.24%comparedwiththeendoflastyear,mainlybecausereceivedaloanfromIndustrialBankandpayingtheconstructionamount.Accountreceivable
Decreased215,900yuanwithadecreaseof69.41%comparedwiththeendoflastyear,mainlyduetothecollectionofreceivable.Otheraccountreceivable
Decreased186,300yuanwithadecreaseof32.58%comparedwiththeendoflastyear,mainlyduetothedeclineofutilitiesreceivable.Constructioninprogress
Increased3.5856millionyuanwithanincreaseof733.96%comparedwiththeendoflastyear,mainlyduetothedecorationamountforB-buildingoftheHotel.
2.Mainoverseasassets
□Applicable√Notapplicable
III.CoreCompetitivenessAnalysis
TheCompanytakeshotelaccommodationandcateringservicesastheprincipleworks,locatesatDadonghaibaywhichisoneoftheChina“Top40scenery”andtheonlyAAAAscenicspotopenforfreeinSanyaandhasthemaximumpassengerflowvolumeinSanyaCity,andisabouta5-minutedrivefromdowntownofSanyaCityandabouta30-munitedrivefromSanyaPhoenixAirport.Thehotelisonlytensofmetersdistantfromthesealevel,
2020
possessesbeautifullandscapingfullofbloomingflowersalltheyearround,andenjoysexceptionalgeography,naturalenvironmentaladvantages.ThehotelhasopenedformorethantwodecadeswhichisoneoftheoldesthotelsinSanyaandhasreceivedmanydomesticandforeignheadsofstateandnationalleaders.Intherecentyears,theCompanyhascomprehensivelyupgradedandrebuiltthehotel’ssoftwareandhardwarefacilities,furtherimprovedthehotelsinternalandexternalbusinessenvironment,andeffectivelyenhancedthebusinesscompetitiveness.Currently,themanagementofthecompany’shotelisstillinthefrontrankamonghotelsinthesamearea,withthesamescale,andatthesamelevel.Inthefuturework,theCompanywillkeeptryingtoimprovethehotel’sinternalandexternalbusinessenvironment,strengthenthesaleseffortsandthestaffconstruction,andfurtherimprovetheoperationalcapability.Duringthereportingperiod,theCompany'scorecompetencehadnosignificantchange.
2020
SectionIVDiscussionandAnalysisofOperationI.Introduction
Duringthereportingperiod,thecompanyachievedoperatingincomeof4,981,900Yuaninmainbusiness,decreasedby9,260,100Yuancomparedwiththesameperiodlastyear,adecreaseof65.02%;operatingprofithaslossof6,284,900Yuanachieved,decreasedby6,880,900Yuancomparedwiththesameperiodlastyear,adecreaseof1154.62%;netnon-operatingincomeof-346,500Yuan,decreasedby506,600Yuancomparedwiththesameperiodlastyear,adecreaseof316.54%;netprofithas6,631,500Yuanloss,decreasedby7,384,200Yuancomparedwiththesameperiodlastyear,adecreaseof977.21%.Duringthereportingperiod,thenovelcoronaviruspneumoniaepidemicspreadwantonlyworldwide,tourismandtourismserviceindustriescontinuedtobeseverelyaffectedbytheepidemic,andthecompany'soperationsfellsharply.Inthefaceofseveredifficulties,thecompanyactivelyresponded,ontheonehand,itincreaseddomesticmarketingeffortsandcarriedoutstrictcostcontrolmanagement;ontheotherhand,ittookfulladvantageoftheoff-seasonoperationduringtheepidemic,andincreasedtheconstructionofhotelsoftwareandhardwareequipmentandfacilities.Maintaskswereasfollows:
1.Continuedtoincreasetheconstructionofhotelsoftwareandhardwarefacilities,improveproductquality,andenhancecompetitivenessBecausethehotelroomshavenotbeenrepairedforalongtime,theyareagingandold,andcannotmeetthemarketdemand.Duringthereportingperiod,thecompanymadefulluseoftheoff-seasonoperationduringtheepidemicperiod,andcontinuedtocomprehensivelydesign,update,decorateandtransformthehotel'sBbuilding,Cbuilding,parkinglot,gardenlandscape,andcorrespondingequipmentandfacilities,whicheffectivelyimprovedtheoperatingenvironmentofhotel’shardwareequipmentandfacilities,andenhancedthequalityandcomprehensivecompetitivenessofhotelproducts.
2.Increaseddomesticmarketingefforts
Severelyaffectedbytheepidemic,theforeigntouristmarkethasstagnatedanditisdifficulttorecoverintheshortterm.Inresponse,thecompanyactivelystrengthenedcooperationwithdomestictravelagencies,intensifiedcooperationwithwell-knownonlinesalesplatforms,andstrivedtoexpandthedomestictouristmarket.Withthecountry'sgradualopeningofthedomestictourismmarket,thedomestictourismmarkethasgraduallyrecovered,andthecompany'snetworksalesrevenuehasincreasedsignificantly,effectivelyincreasingthemarketshareofdomestictouristsandchangingthesituationofover-relianceonforeigntouristsinthepast.
3.Keepstrictcostcontrolandmaximizecorporatebenefits
Duringthereportingperiod,thecompanycontinuedtostrengthenprocurementcostcontrolmanagementand
2020
budgetmanagement,scientificallycontrolledoperatingcosts,strictlyandreasonablycontrolledvariousexpenses,andcarriedoutregularinspectionsandrepairstoeliminatewasteofresources,improvecostrationalityandrevenuecost-effectiveness.Atthesametime,ashoteloperationswereverysluggishduringtheepidemic,thecompanyscientificallyandreasonablyarrangedstaffondutyandwaitingfordutyaccordingtoworkneeds,whicheffectivelyreducedlaborcostsandmaximizedcorporateinterests.Insecondhalfof2020,theCompanycontinuestoconsolidateandexpandsaleschannels,improvethehotel’squalityandservicestandards,andenhancethecomprehensivecompetitiveness,tolayingoutasolidfoundationforsustained,stableandhealthydevelopmentoftheCompany.II.MainbusinessanalysisSeethe“I-Introduction”in“DiscussionandAnalysisofOperation”Changeofmainfinancialdataonay-o-ybasis
InRMBCurrentperiod
Sameperiodoflastyear
Y-o-yincrease/decrease
ReasonsforchangesOperationrevenue4,981,872.0014,241,961.04-65.02%
UndertheinfluenceofCOVID-19,businessdeclinedseriouslyOperationcost5,052,678.435,514,477.93-8.37%
Fixedcostsaccountforarelativelyhighinoperationcost,declineofoperationcostissmallrelativelySalesexpenses2,095,194.242,809,991.94-25.44%
ReducingthepayandfeestoloweroperationcostAdministrativeexpenses4,200,935.355,071,800.21-17.17%
ReducingthepayandfeestoloweroperationcostFinancialcost-1,313.35-133,732.09-99.02%HigherdepositinterestincomelastyearNetcashflowarisingfromoperationactivities
-4,789,190.921,269,416.65-477.27%
Operationrevenuereducedgreatly,theoperationlossincreasedgreatlyNetcashflowarisingfrominvestmentactivities
-4,541,324.47-522,876.00768.53%HoteldecorationinvestmentNetcashflowarisingfromfinancingactivities
19,740,208.71100.00%LoansfromIndustrialBankNetincreaseofcashandcashequivalent
10,409,693.32746,540.651,294.39%
ReceivedbankloansandpayingtheconstructionamountMajorchangesonprofitcompositionorprofitresourcesinreportingperiod
□Applicable√Notapplicable
NochangesonprofitcompositionorprofitresourcesinreportingperiodConstitutionofoperationrevenue
2020
InRMBCurrentperiodSameperiodlastyear
Increase/decrease
y-o-y(+,-)Amount
Ratioinoperation
revenue
Amount
RatioinoperationrevenueTotaloperationrevenue4,981,872.00100%14,241,961.04100%-65.02%AccordingtoindustriesTourismcateringservice4,089,491.0582.09%12,671,008.6688.97%-67.73%Otherbusiness892,380.9517.91%1,570,952.3811.03%-43.19%AccordingtoproductsRoomrevenue3,471,155.9769.68%11,108,639.7878.00%-68.75%Cateringentertainmentrevenue
618,335.0812.41%1,562,368.8810.97%-60.42%Otherbusiness892,380.9517.91%1,570,952.3811.03%-43.19%AccordingtoregionHainanarea4,981,872.0014,241,961.04100.00%-65.02%Abouttheindustries,products,orregionsaccountingforover10%ofthecompany’soperatingincomeoroperatingprofit
√Applicable□Notapplicable
InRMBOperatingrevenue
Operatingcost
Grossprofitratio
Increase/decreas
eofoperatingrevenuey-o-y
Increase/decreaseofoperatingcost
y-o-y
Increase/decrease
ofgrossprofit
ratioy-o-yAccordingtoindustriesTourismcateringservice
4,981,872.005,052,678.43-1.42%-65.02%-8.37%-62.70%AccordingtoproductsCustomerservice
revenue
3,471,155.974,410,744.89-27.07%-68.75%-2.69%-86.27%Cateringentertainmentrevenue
618,335.08404,671.7634.55%-60.42%-45.64%-17.80%Rentalrevenue892,380.95237,261.7873.41%-43.19%0.00%-11.49%AccordingtoregionHainanarea4,981,872.005,052,678.43-1.42%-65.02%-8.37%-62.70%Undercircumstancesofadjustmentinreportingperiodforstatisticscopeofmainbusinessdata,adjustedmainbusinessbasedonlatestoneyear’sscopeofperiod-end
□Applicable√Notapplicable
2020
Explanationonrelevantdatahasabove30%y-o-ychanges
√Applicable□Notapplicable
AffectedbyCOVID-19,operationoftheCompanydeclineddramatically,operationrevenuefromtheabovementionedproductshavedecreasedsignificantly,andtheoperatinggrossprofitmarginhasdecreasedsharply.III.Analysisofthenon-mainbusiness
□Applicable√Notapplicable
IV.AnalysisofAssetsandliability
1.Majorchangesofassetscomposition
InRMBCurrentperiod-endSameperiod-endlastyear
Ratiochanges(+,-)
NotesofmajorchangesAmount
Ratiointotal
assets
Amount
Ratiointotal
assets
Monetaryfund17,832,633.2118.10%7,422,939.898.48%9.62%
ItisMainlycausedbyobtainingbankloans,andpayingtheoperatingexpensesandconstructionamountAccountreceivable
95,154.010.10%311,083.920.36%-0.26%
ThecollectionofaccountreceivableInventory257,461.010.26%254,257.190.29%-0.03%NormalchangesInvestmentrealestate
7,667,644.097.78%7,909,956.879.04%-1.26%
NormalchangesafterdepreciationaccrualFixassets33,463,950.0533.97%35,075,195.9840.08%-6.11%
NormalchangesafterdepreciationaccrualConstructioninprogress
4,074,092.554.14%488,522.100.56%3.58%
CausedbytheHoteldecorationLong-termborrowing
16,458,140.8916.71%16.71%
Causedbyobtainingthebankloans
2.Assetsandliabilitymeasuredbyfairvalue
□Applicable√Notapplicable
3.Assetsrightrestrictiontillendofreportingperiod
Nil
2020
V.Investment
1.Overallsituation
□Applicable√Notapplicable
2.Themajorequityinvestmentobtainedinthereportingperiod
□Applicable√Notapplicable
3.Themajornon-equityinvestmentdoinginthereportingperiod
□Applicable√Notapplicable
4.Financialassetsmeasuredbyfairvalue
□Applicable√Notapplicable
5.Financialassetsinvestment
(1)Securitiesinvestment
□Applicable√Notapplicable
Thecompanyhadnosecuritiesinvestmentinthereportingperiod.
(2)Derivativeinvestment
□Applicable√Notapplicable
TheCompanyhasnoderivativesinvestmentinthePeriodVI.Salesofmajorassetsandequity
1.Salesofmajorassets
□Applicable√Notapplicable
TheCompanyhadnosalesofmajorassetsinthereportingperiod.
2.Salesofmajorequity
□Applicable√Notapplicable
VII.Analysisofmainholdingcompanyandstock-jointlycompanies
□Applicable√Notapplicable
2020
TheCompanyhadnoinformationofmainholdingcompanyandstock-jointlycompaniesdisclosedinthereportingperiod.
VIII.StructuredvehiclecontrolledbytheCompany
□Applicable√Notapplicable
IX.PredictionofbusinessperformancefromJanuary–September2020Estimationonaccumulativenetprofitfromthebeginningoftheyeartotheendofnextreportperiodtobelossprobablyorthewarningofitsmaterialchangecomparedwiththecorrespondingperiodofthelastyearandexplanationonreason
□Applicable√Notapplicable
X.Risksandcountermeasures
(1)MarcoPolicyrisks
Inordertonormalizeandoptimizetourismmarketorfurthertopromoteclear-partyconstruction,relateddepartmentsmayfurtherissuesomerelativepolicies.Whilethesepolicesmaycauserestrainandeffectonregionaltourismdevelopment.Mainbusinessincomemaybeaffectedsinceweareengagedintourismservice.Countermeasures:TheCompanywillfurthertoimprovethehardandsoftequipmentandfacilitiesofthehotelwhileexpandingthebusinessscope,andwinmoremarketsharesviahigh-classserviceandcomfortableenvironmentsoastoensurethemainbusinessincomelevel.
(2)TheriskofbeingaffectedbythenovelcoronaviruspneumoniaepidemicSinceJanuarythisyear,theglobaloutbreakofthenovelcoronaviruspneumoniahascausedseveredamagetothetourismandtourismserviceindustries.Atpresent,althoughthedomesticepidemicisbasicallyundercontrol,theforeignepidemiccontinuestospreadglobally,andtheforeigntouristmarketisdifficulttorecoverintheshortterm.Countermeasures:Thecompanywillstrictlyfollowtheviruspreventionandcontrolrequirementstoregulatemanagement,andincreasetherenovationandconstructionofhotelinfrastructure,increasetheexpansionofthedomestictouristmarket,andstrivetoimprovebusinesscompetitivenessaftertheepidemic.
(3)Naturaldisasterrisks
Inrecentyears,variousnaturaldisasterstakeplacefrequently,HainanIslandbelongstooceanicclimate,wherehashighincidenceofdisastrousweatherinsummer.IfSanyabecomesthelandingplaceoftyphoon,itmaycausegreatdamagestothefacilitiesoftheCompanyandaffecttheCompany’snormaloperation.Countermeasures:TheCompanywillstrengthentheconstructionandmaintenanceforinfrastructure,continuetobuypropertyinsurances,positivelyadopteffectivepreventionmeasures,andimprovetheabilityofresistingnaturaldisasters.
(4)RisksofHR
Demandfortalentinaspectofhotelsalesandmanagementareincreasinglyduetotheconstantlyriseofhotel
2020
industry,flowofhoteltalentedpeoplecomesmorewidespreadandmorefrequent;wemayfacetherisksofdevelopmentrestrainedfrombraindrain.Countermeasure:wewillcontinuetoimprovethetalentintroduction,trainingsystem,incentivemechanism,remunerationandwelfareaswellasinsurancemechanism,strivetoattracttalent,cultivatethemandretainthem.Meanwhile,strengthenstaffqualityandskillsaswellasthemanagementability,furtherputtingmoreeffortsinenterprisecultureconstruction,enhancethecohesionintheCompany,andguaranteeastableofthecoremanagersandskilltechnicians.
(5)Operationalrisksofmainbusiness
Withtheceaselessdevelopmentofglobaltouristindustryconstantlyandceaselessrisingofhigh-class,middle-classandlow-classhotels,thetouristsourceskeepshunting,andthecompetitionoftourismserviceindustryinSanyabecomesincreasinglyfierce.WhilethemainbusinessoftheCompanyisjustasmall-scalehotel,asthemainbusinessissingleandthebusinessscopeislimited,thetouristmarketconditionsandtouristquantitydirectlymakesignificantaffectsonthecompanyperformance.Countermeasure:madeascientificmanagementanddecision-makingprocedures,strengthentheawarenessofriskprevention,buildingandimprovingrelevantmechanismandstandardizedthemanagementintheCompany.Furthermore,increasethesalesability,onbaseoftheformersalesnetwork,continuestoexploitforeignhigh-endtourismmarketunderthesuperiorgeographicallocationandenvironmentforimprovingtheoccupancyrate.Besides,wecontinuedtodevelopfinancingchannels,expandingoperationprojects,enrichtheindustrialstructureforincreasingtheprofitincreasingpoint.
2020
SectionV.ImportantEventsI.Inthereportperiod,theCompanyheldannualgeneralmeetingandextraordinaryshareholders’generalmeeting
1.AnnualGeneralMeetinginthereportperiod
Sessionofmeeting
Type
Ratioofinvestorparticipation
Date
Dateofdisclosure
IndexofdisclosureAGMof2019
Annualgeneralmeeting
20.78%22May202023May2020
The“ResolutionNoticeofAnnualGeneralMeetingof2019”(No.:2020-018)publishedonSecuritiesTimes,HongKongCommercialDailyandJuchaowebsite(http://www.cninfo.com.cn)dated23May2020respectively
2.Requestforextraordinarygeneralmeetingbypreferredstockholderswhosevotingrightsrestore
□Applicable√Notapplicable
II.ProfitdistributionandcapitalizationofcapitalreservesinthePeriod
□Applicable√Notapplicable
TheCompanyhasnoplansofcashdividenddistributed,nobonussharesandhasnoshareconvertedfromcapitalreserveeitherforthesemi-annualyearIII.CommitmentscompletedinPeriodandthosewithoutcompletedtillendofthePeriodfromactualcontroller,shareholders,relatedparties,purchaserandcompanies
√Applicable□Notapplicable
CommitmentsPromise
Typeofcommitments
Contentofcommitments
Commitmentdate
Commitmentterm
Implementation
CommitmentsforShareMergerReform
LuoniushanCo.,Ltd
CommitmentsforShareMergerReform
OnMay30,2007,LuoniushanCo.,Ltd.madecommitmentsintheCompany’s"Instructionsforreformofnon-tradableshares"(Revision)and"Instructionsforreformofnon-tradableshares"(Abstractofrevision)thatinviewofDadonghaiCompany’slossesinsuccessiveyearsandonthevergeofdelisting,inordertoreversethecompany'sbusinessdifficulties,improveprofitabilityandrecoverthe
2017-06-27
month
s
Theoriginalplansofmaterialassetsreorganizationwas
2020
continuousbusinesscapacity,LuoniushanCo.,Ltd.,thecontrollingshareholderofDadonghaiCompanymadecommitmentstoactivelyseekrestructuringpartiestoreorganizetheassetsofDadonghaiCompanyattheappropriatetime.
terminated
CommitmentsinreportofacquisitionorequitychangeCommitmentsinassetsreorganizationCommitmentsmakeininitialpublicofferingorre-financingEquityincentivecommitmentOthercommitmentsformediumandsmallshareholdersCompletedontime(Y/N)N
Ifthecommitmentsisnotfulfilledontime,shallexplainthespecifyreasonandthenextworkplan
Thecompany’sstockhasbeensuspendedsincetheopeningonFebruary15,2017duetotheplanningandfulfillmentcommitmentsofLuoniushan.OnAugust13,2017,theconsiderationofthe11
thinterimmeetingoftheeighthboardofdirectorsofthecompanyfailedtoapprovethe“ProposalonMajorAssetPurchaseandRelatedTransactionReport(Plan)ofHainanDadonghaiTourismCentre(Holdings)Co.,Ltd.”andother11proposals.OnAugust15,2017,thecompanyissuedanannouncementtoterminatethismajorassetrestructuring,andthecompany’sstockresumedtradingonAugust17
th
.OnDecember4,2017,theboardofdirectorsandtheboardofsupervisorsofthecompanyreviewedandapprovedtheProposalontheChangeofCommitmentPeriodoftheFirstMajorityShareholderoftheCompany.LuoniushanCo.,Ltd.,thecompany’sfirstmajorityshareholderplannedforatwo-yearextensionforthetimelimitofthecompany’srestructuringcommitmentsinceDecember27,2017,thatis,thedeadlinefortheimplementationoftherestructuringcommitmentwaschangedtoDecember26,2019.OnDecember22,2017,thecompany’sfourthextraordinaryshareholders’meetingin2017didnotapprovetheproposal.OnJanuary31,2018,thecompanyreceivedtheNoticeonPlanningforSuspensionofMajorEventssentbyLuoniushanCo.,Ltd.,thecompany’slargestshareholder,toplanandpreparethemajorissuesrelatedtothecompany.Uponapplicationbythecompany,thecompany’sstock(stockshortname:DadonghaiA,DadonghaiB,stockcode:000613,200613)wassuspendedsincetheopeningonJanuary31,2018.Uponapplicationbythecompany,thecompany’sstockresumedtradingonFebruary8,2018,andwastransferredtothemajorassetrestructuringsincetheopeningonFebruary14,2018.OnJune25,2018,thecompanyheldthethirdinterimmeetingoftheninthboardofdirectorswhichreviewedandapprovedtheProposalonTerminatingthePlanningforMajorAssetRestructuring.Aftercarefulstudy,theboardofdirectorsofthecompanydecidedtoterminatetheplanningforthismajorassetrestructuring.Atpresent,thecompanyhasnoinformationthatshouldbedisclosedbuthasnotbeendisclosed
2020
IV.Engagementandnon-reappointmentofCPAWhetherthesemi-annualreportwasauditedornot
□Yes√No
Thesemi-annualreportoftheCompanyhadnoaudited.V.ExplanationfromtheBoardandSupervisoryCommitteefor“QualifiedOpinion”fromtheCPA
□Applicable√Notapplicable
VI.Explanationon“QualifiedOpinion”ofpreviousyearfromtheBoard
□Applicable√Notapplicable
VII.Bankruptcyreorganization
□Applicable√Notapplicable
Inreportingperiod,theCompanyhasnobankruptcyreorganizationoccurred.
VIII.LawsuitsSignificantlawsuitsandarbitrationoftheCompany
√Applicable□Notapplicable
BasicSituationofLitigation
(Arbitration)
AmountInvolve
d(Yuan)
WhethertoForm
anEstimate
dLiability
Litigation(Arbitration)
Progress
Litigation(Arbitration)TrialResultsandImpact
Execution
ofLitigation(Arbitratio
n)Judgment
Date
ofDisclosure
Disclosure
Index
HainanDadonghaiTourismCentreGroupCo.,Ltd.borrowed2.76millionyuanand4.55millionyuanfromHainanDadonghaiTourismCentre(Holdings)Co.,Ltd.onOctober16,1996andDecember26,1996respectively.Thetwoborrowingstotaled7.31millionyuanandhaven’tbeenrepaidyet.Thecompanysubmitteda"CivilComplaint"andrelatedevidencematerialstotheSanyaSuburbanPeople'sCourt(hereinafterreferredtoasthe"Court").
731N
ThefirstinstancedecisionrejectedtheclaimoftheCompany,andtheappealmaterialshassubmittedtothecourtwithintheappealperiod.Atpresent,noacceptance
Thecompanyhaswrittenofftheborrowingsofthecaseinfullamountin2008.Atpresent,thecompanyisunabletojudgetheimpactofthislawsuitonthe
Judgmentoffirstinstancehasnotcomeintoeffect
2019-06-04
AnnouncementonSignificantLitigation(AnnouncementNo.:
2019-017)publishedbySecuritiesTimes,HongKongCommercialDailyandwww.cninfo.com.cn.
2020
noticehasbeenreceived.
company'scurrentprofitorfutureprofit.Otherlawsuits
√Applicable□Notapplicable
BasicSituationofLitigation(Arbitration)
AmountInvolved
(Yuan)
WhethertoForm
anEstimatedLiability
Litigatio
n(Arbitrat
ion)Progress
Litigation(Arbitratio
n)TrialResultsandImpact
Executio
nofLitigation(Arbitrati
on)Judgment
Date
ofDisclosure
Disclos
ureIndexOnMay31,2018,theSanyaLocalTaxationBureauSocialSecurityFeeCollectionandAdministrationBureauissuedanoticeofpaymentdeadlineforsocialinsurancepremiumstothecompany'sSouthChinaHotel,orderingthecompany'sSouthChinaHoteltopaytheunpaidsocialinsurancepremiumsandlatepaymentfeesandinterestfromJanuary1,2012toDecember31,2012oftotaling286,200.36yuan.OnMay17,2018,theSanyaLocalTaxationBureaudeductedthemoneyfromthedepositofthecompany'sSouthChinaHotel.Accordingtotheagreementofthe"ResponsibilityLetteroftheTargetManagementofSouthChinaHotel"signedbySouthChinaHotelandSunHongjie,SunHongjieshouldberesponsibleforthesocialinsurancepremiumincurredfromMay1,2011toApril30,2016.TheunpaidsocialinsurancepremiumoccurredduringSunHongjiestargetmanagementresponsibility,andSunHongjieshouldundertakethepayment.Sofar,SunHongjiehasnotrepaidtheadvancepaymenttothecompany'sSouthChinaHotel.Tothisend,thecompany'sSouthChinaHotelappealedtothecourt.
28.62N
Judgmentoffistinstancehascomeintoeffect
Thefirsttrialupheldthecompany’sclaim
Entered
theenforcementprocedure
IX.Mediaquestioned
□Applicable√Notapplicable
Duringthereportingperiod,thecompanyhadnoquestionsfromthemedia
X.Penaltyandrectification
□Applicable√Notapplicable
TheCompanyhasnopenaltyandrectificationinthePeriod
2020
XI.Integrityofthecompanyanditscontrollingshareholdersandactualcontrollers
□Applicable√Notapplicable
XII.Implementationofthecompany’sstockincentiveplan,employeestockownershipplanorotheremployeeincentives
□Applicable√Notapplicable
Duringthereportingperiod,thecompanyhasnostockincentiveplan,employeestockownershipplanorotheremployeeincentivesthathavenotbeenimplemented.XIII.Majorrelatedtransaction
1.Relatedtransactionwithroutineoperationconcerned
√Applicable□Notapplicable
Relatedtransactionprice
Relatedtransactio
namount(in
thousandYuan
)
Proportion
insimila
rtransactions
Tradi
nglimitappro
ved(in10thousa
ndYuan)
Whet
herovertheappro
vedlimite
dor
not(Y/N)
Cleari
ngform
forrelate
dtransaction
Availablesimilarmarketprice
Dateofdisclosure
Indexofdisclosure
Relatedtransactionprice
Relatedtransactionamount(in10thousandYuan)
Proportioninsimilartransacti
ons
Tradi
nglimitappro
ved(in10thous
andYuan)
Wheth
erovertheappro
vedlimite
dor
not(Y/N)LuoniushanCo.,Ltd.
Firstmajorityshareholder
Consumption
Accommodation
Marketprice
Marketprice
0.290.06%0N
Sameasthetransactionwithnon-relatedparty
Sameasthetransactionwithnon-relatedpartyTotal----0.29--0----------Detailofsalesreturnwithmajoramountinvolved
N/AReporttheactualimplementationofthedailyrelatedtransactionswhichwereprojectedabouttheirtotalamountbytypesduringthereportingperiod
N/AReasonsformajordifferencesbetweentradingpriceandmarketreferenceprice
Notapplicable
2020
2.Relatedtransactionsbyassetsacquisitionandsold
□Applicable√Notapplicable
NorelatedtransactionsbyassetsacquisitionandsoldfortheCompanyinreportingperiod
3.Relatedtransactionsofmutualinvestmentoutside
□Applicable√Notapplicable
NomainrelatedtransactionsofmutualinvestmentoutsidefortheCompanyinreportingperiod
4.Contactofrelatedcreditanddebt
□Applicable√Notapplicable
NocontactofrelatedcreditordebtfortheCompanyinthereportingperiod
5.Othermaterialrelatedtransactions
□Applicable√Notapplicable
TheCompanyhasnoothermaterialrelatedtransactionsintheperiod
XIV.Non-businesscapitaloccupyingbycontrollingshareholdersanditsrelatedparties
□Applicable√Notapplicable
Nonon-businesscapitaloccupiedbycontrollingshareholdersanditsrelatedpartiesinPeriodXV.Majorcontractandimplantation
1.Trusteeship,contractandleasing
(1)Trusteeship
□Applicable√Notapplicable
TheCompanyhadnotrusteeshipinthereportingperiod.
(2)Contract
□Applicable√Notapplicable
TheCompanyhadnocontractinthereportingperiod.
(3)Leasing
√Applicable□Notapplicable
Noteofleasing
2020
ItemTenantLeaselifeTermoflease
1/FcateringofB-buildingoftheHotelMaMing(HainanHangpaiFoodCo.,Ltd.)
5years2016-01-01to2020-05-30Shoppingmall–B/FLiFuming3years2019-11-01to2022-10-31groundfloorofHotelALiFuming3years2019-02-28to2022-02-27SeasidestallandwoodhouseSanyaLedaFoodManagementCo.,Ltd.5years2018-01-01to2022-12-31Seasidelockerroom
ZhongZhengao3years2016-12-01to2019-11-30Multi-functionalmeetingroom
LiFuming5years2019-11-01to2024-10-31Gains/lossestotheCompanyfromprojectsthatreachedover10%intotalprofitoftheCompanyinreportingperiod
√Applicable□Notapplicable
Nameof
lessor
Nameoftheleasingparty
Leasingassets
Leasing
assetsinvolvedintheamount
(in10thousand
Yuan)
Leasestartdate
Leasetermina
tion
date
Leasingincome(in10thousan
dYuan)
Basis
fordeterminingtheleasingincome
Theimpactofleasingincomeonthecompany
Whethe
rberelatedtransactions
AssociationrelationTheCompany
SanyaLedaFoodManagementCo.,Ltd.
Seasidestallandwoodhouse
2018-01-01
2022-12-31
Contract
Increaseincome
NN/ATheCompany
ZhongZhengao
Seasidelockerroom
2016-12-01
2019-11-30
Contract
Increaseincome
NN/ATheCompany
LiFuming
Multi-functionalmeetingroom
2019-11-01
2024-10-31
Contract
Increaseincome
NN/A
2.MajorGuarantee
□Applicable√Notapplicable
TheCompanyhadnoguaranteeinthereportingperiod.
3.Trustmanagement
□Applicable√Notapplicable
TheCompanyhadnotrustmanagementinthereportingperiod.
4.Othermaterialcontracts
√Applicable□Notapplicable
2020
Thename
ofthecontracti
ngcompany
Thename
ofthecontractedcompany
Contr
actobjec
t
Dateofcontractsigning
Thebookvalueoftheassetsinvolvedinthecontract(in10thousandyuan)
Theassessedvalueoftheassetsinvolved
inthecontract(i
n10thousand
yuan)
Nameofevaluationinstitution
Thebasedateevaluation
Prici
ngPrinciple
Transactionprice(in10thous
andyuan)
WhetherRelatedTransactionsorno
t
Relevancerelationship
Theperformanceby
theendoftheterm
Dateofdisclosure
Indexofdisclosure
TheCompany
HaikouBranchofIndustrialBank
millionyuanloans
2020-04-10
4814,796
HainanHuazhiLandRealEstateAppraisalCo.,Ltd.
Marketprice
2,000N
N/A
Obtaining
19.7
millionyuanloansHainanDadonghaiTourismCentre(Holdings)Co.,LtdSouthChinaHotel
HaikouXindechengConstructionandInstallationEngineeringCo.,Ltd.
DecorationprojectoftheBuilding-BofSouthChinaHotel
2020-03-25
N/A
Marketprice
1,200N
N/A
60%
oftheconstructionprogress
XVI.Socialresponsibility
1.Majorenvironmentalprotection
ListedcompanyanditssubsidiarybelongtothekeypollutionenterpriselistedbyDepartmentofEnvironmentalProtection:NoNil
2020
2.Executionofsocialresponsibilityoftargetedpovertyalleviation:
Nil
XVII.Explanationonothersignificantevents
√Applicable□Notapplicable
TheLawyer’sLetterreceivedbytheCompany:bypreliminaryaccountingfromSanyaPowerBureau,the10313373KwhelectricitywasunderstatedunderthenameofSouthChinaHotelfromJuly2006toApril2016.TheCompanyiscommunicatedandnegotiateswithSanyaPowerBureauintheabovementionedeventwithoutnegotiationresultssofar.XVIII.SignificanteventofsubsidiaryoftheCompany
□Applicable√Notapplicable
2020
SectionVI.ParticularsaboutChangesinSharesandShareholdersI.ChangesinShareCapital
1.ChangesinShareCapital
InShareBeforetheChangeIncrease/DecreaseintheChange(+,-)AftertheChange
Amount
Proporti
on
Newsharesissued
Bonusshares
Capitalization
ofpublicreserve
OthersSubtotal
AmountProportion
I.Restrictedshares10,223,4002.81%10,223,4002.81%
1.State-ownedshares
2.State-ownedcorporate
shares
1,399,2000.38%1,399,2000.38%
3.Otherdomesticshares
8,824,2002.42%8,824,2002.42%Including:Domesticlegalpersonshares
8,824,2002.42%8,824,2002.42%II.Unrestrictedshares353,876,60097.19%353,876,60097.19%
1.RMBcommonshares
265,876,60073.02%265,876,60073.02%
2.Domesticallylisted
foreignshares
88,000,00024.17%88,000,00024.17%III.Totalshares364,100,000100.00%364,100,000100.00%Reasonsforsharechanged
□Applicable√Notapplicable
Approvalofsharechanged
□Applicable√Notapplicable
Ownershiptransferofsharechanges
□Applicable√Notapplicable
Implementationprogressofthesharerepurchases
□Applicable√Notapplicable
Implementationprogressofthereductionofrepurchasessharesbycentralizedbidding
□Applicable√Notapplicable
2020
InfluenceonthebasicEPSanddilutedEPSaswellasotherfinancialindexesofnetassetspershareattributabletocommonshareholdersofCompanyinlatestyearandperiod
□Applicable√Notapplicable
Otherinformationnecessarytodiscloseorneedtodisclosedunderrequirementfromsecurityregulators
□Applicable√Notapplicable
2.Changesofrestrictedshares
√Applicable□Notapplicable
InShareShareholders’name
Numberof
sharesrestrictedatPeriod-begin
Numberofsharesreleased
intheYear
Numberofnewsharesrestricted
intheYear
Numberof
sharesrestrictedatPeriod-end
Restriction
reasons
Releaseddate
ShenyangJin’anIndustrialCorporation
831,60000831,600
Legalcommitmentinsharereform
AfterremoverestrictedprocedurescompleteSanyaWangliBuildingMaterialsSales
92,4000092,400
Legalcommitmentinsharereform
AfterremoverestrictedprocedurescompleteSanyaZhongxingDevelopmentCo.,Ltd.
2,541,000002,541,000
Legalcommitmentinsharereform
AfterremoverestrictedprocedurescompleteSanyaRealEstateValuationAgent924,00000924,000
Legalcommitmentinsharereform
AfterremoverestrictedprocedurescompleteSouthernIndustrialandTradingCorporation
660,00000660,000
Legalcommitmentinsharereform
AfterremoverestrictedprocedurescompleteHainanBranchofBankofCommunicationsCo.,Ltd.
924,00000924,000
Legalcommitmentinsharereform
AfterremoverestrictedprocedurescompleteGuangzhouCompanyofHainanInternationalInvestmentCo.,Ltd.
660,00000660,000
Legalcommitmentinsharereform
AfterremoverestrictedprocedurescompleteHainanDadonghaiTourismCo.739,20000739,200
Legalcommitmentinsharereform
AfterremoverestrictedprocedurescompleteHaikouDongfangUrbancreditCooperative
924,00000924,000
Legalcommitmentinsharereform
AfterremoverestrictedprocedurescompleteGuangzhouDongzhanIndustrialCo.LTD
924,00000924,000LegalAfterremoverestricted
2020
commitmentinsharereform
procedurescompleteSpecialaccountfordispositionofbankruptenterpriseproperty-HongKong-MacaoInternationalHainanInvestmentCo.,Ltd.
924,00000924,000
Legalcommitmentinsharereform
Afterremoverestricted
procedurescompleteYangpuTongrongInvestmentManagementConsultingCo.,Ltd.
79,2000079,200
Legalcommitmentinsharereform
Afterremoverestricted
procedurescompleteTotal10,223,4000010,223,400----II.Securitiesissuanceandlisting
□Applicable√Notapplicable
III.AmountofshareholdersoftheCompanyandparticularsaboutsharesholding
InShareTotalcommonstockshareholdersinreportingperiod-end
42,990
Totalpreferenceshareholderswithvotingrightsrecoveredatendofreportingperiod
Particularsaboutcommonsharesheldabove5%byshareholdersortoptencommonshareholders
FullnameofShareholders
Natureofshareholder
Proportionofsharesheld
Numberof
commonsharesheld
atperiod-end
Change
sinreportperiod
Amountofrestrictedsharesheld
Amountofun-restrictedsharesheld
Numberofsharepledged/frozenStateofshareAmount
LuoniushanCo.,Ltd.
Domesticnonstate-ownedcorporate
17.55%63,885,9800063,885,980
Pledged
44,720,186YangMeiqin
Domesticnatureperson
4.47%16,279,0280016,279,028PanAnjie
Domesticnatureperson
4.01%14,593,5980014,593,598HainanYaanResidencePropertyServiceCo.,Ltd.
Domesticnonstate-ownedcorporate
2.25%8,205,800008,205,800ChenJinlian
Domesticnatureperson
2.13%7,766,400007,766,400PanAiping
Domesticnatureperson
1.13%4,110,738004,110,738ChinaInvestmentSecuritiesForeigncorporate0.99%3,622,300003,622,300
2020
(HK)Co.,Ld.customerdepositShenwanHongyuanSecurities(HongKong)Co.,Ltd.
Foreigncorporate0.84%3,056,390003,056,390ZhangFengxiu
Domesticnature
person
0.84%3,041,372003,041,372SunHuiming
Domesticnatureperson
0.79%2,888,690002,888,690Strategyinvestorsorgenerallegalpersonbecomestop10commonshareholdersduetorightsissued
N/A
Explanationonassociatedrelationshiporaccordantactionamongtheaforesaidshareholders
Amongtheaboveshareholders,HainanYa’anResidencePropertyServiceCo.,Ltd.isthewholly-ownedsubsidiaryofLuoniushanCo.,Ltd;YangMeiqin,PanAnjie,ChenJinlianandPanAipingarethepersonsactinginconcert;theCompanyisunknownwhetherthereexistsassociatedrelationshiporbelongstotheconsistentactorregulatedbytheManagementMeasureofInformationDisclosureonChangeofShareholdingforListedCompanyamongtheothershareholders.Particularabouttoptenshareholderswithun-restrictcommonsharesheldShareholders’name
Amountofun-restrictcommonshares
heldatPeriod-end
TypeofsharesTypeAmountLuoniushanCo.,Ltd.63,885,980RMBcommonshare63,885,980YangMeiqin16,279,028
Domesticallylistedforeignshare
16,279,028PanAnjie14,593,598
Domesticallylistedforeignshare
14,593,598HainanYaanResidencePropertyServiceCo.,Ltd.8,205,800RMBcommonshare8,205,800ChenJinlian7,766,400
Domesticallylistedforeignshare
7,766,400PanAiping4,110,738
Domesticallylistedforeignshare
4,110,738ChinaInvestmentSecurities(HK)Co.,Ld.customerdeposit
3,622,300RMBcommonshare3,622,300ShenwanHongyuanSecurities(HongKong)Co.,Ltd.3,056,390
Domesticallylistedforeignshare
3,056,390ZhangFengxiu3,041,372RMBcommonshare3,041,372SunHuiming2,888,690
Domesticallylistedforeignshare
2,888,690Expiationonassociatedrelationshiporconsistentactorswithinthetop10un-restrictcommonstockshareholdersandbetweentop10un-restrictcommonstockshareholdersandtop10commonstockshareholders
Amongtheaboveshareholders,HainanYa’anResidencePropertyServiceCo.,Ltd.isthewholly-ownedsubsidiaryofLuoniushanCo.,Ltd.YangMeiqin,PanAnjie,ChenJinlianandPanAipingarethepersonsactinginconcert;theCompanyisunknownwhetherthereexistsassociatedrelationshiporbelongstotheconsistentactorregulatedbytheManagementMeasureofInformationDisclosureonChangeofShareholdingforListedCompanyamongtheothershareholders.
2020
Explanationonshareholdersinvolvingmarginbusinessabouttoptencommonstockshareholderswithun-restrictsharesheld
N/AWhethertoptencommonstockshareholdersortoptencommonstockshareholderswithun-restrictsharesheldhaveabuy-backagreementdealinginreportingperiod
□Yes√No
Thetoptencommonstockshareholdersortoptencommonstockshareholderswithun-restrictsharesheldoftheCompanyhavenobuy-backagreementdealinginreportingperiod.IV.Changesofcontrollingshareholdersoractualcontroller
Changesofcontrollingshareholdersinreportingperiod
□Applicable√Notapplicable
Changesofcontrollingshareholdershadnochangeinreportingperiod.Changesofactualcontrollerinreportingperiod
□Applicable√Notapplicable
Changesofactualcontrollerinreportingperiodhadnochangeinreportingperiod.
2020
SectionVII.PreferredStock
□Applicable√Notapplicable
TheCompanyhadnopreferredstockinthePeriod.
2020
SectionVIIIConvertibleBonds
□Applicable√Notapplicable
TheCompanyhadnoconvertiblebondsinthePeriod
2020
SectionIX.ParticularsaboutDirectors,SupervisorsandSenior
Executives
I.Changesofsharesheldbydirectors,supervisorsandseniorexecutives
□Applicable√Notapplicable
Nochangeofsharesheldbydirectors,supervisorsandseniorexecutives,foundmoredetailsinAnnualReport2019.II.Changesofdirectors,supervisorsandseniorexecutives
□Applicable√Notapplicable
Nochangesofdirectors,supervisorsandseniorexecutives,foundmoredetailsinAnnualReport2019.
2020
SectionX.CorporateBondWhethertheCompanyhasacorporationbondsthatissuancepubliclyandlistedonstockexchangeandwithoutdueonthedatewhensemi-annualreportapprovedforreleasedorfailtocashinfullondueNo
2020
SectionXI.FinancialReportI.AuditreportWhetherthesemiannualreportisaudited
□Yes√No
Thecompany'ssemiannualfinancialreporthasnotbeenaudited.II.FinancialStatementExpressedinRenminbiunlessotherwisestated
1.Balancesheet
PreparedbyHAINANDADONGHAITourismCentre(HOLDINGS)CO.,LTD.
2020-06-30
InRMBItem2020-6-302019-12-31Currentassets:
Monetaryfunds17,832,633.217,422,939.89SettlementprovisionsCapitallentTradablefinancialassetsDerivativefinancialassetsNotereceivableAccountreceivable95,154.01311,083.92ReceivablefinancingAccountspaidinadvanceInsurancereceivableReinsurancereceivablesContractreserveofreinsurancereceivableOtheraccountreceivable385,492.93571,744.52Including:InterestreceivableDividendreceivableBuyingbackthesaleoffinancialassetsInventories257,461.01254,257.19
2020
ContractualassetsAssetsheldforsaleNon-currentassetduewithinoneyearOthercurrentassets2,951,509.692,574,442.57Totalcurrentassets21,522,250.8511,134,468.09Non-currentassets:
LoansandpaymentsonbehalfDebtinvestmentOtherdebtinvestmentLong-termaccountreceivableLong-termequityinvestmentInvestmentinotherequityinstrumentOthernon-currentfinancialassetsInvestmentrealestate7,667,644.097,909,956.87Fixedassets33,463,950.0535,075,195.98Constructioninprogress4,074,092.55488,522.10ProductivebiologicalassetOilandgasasset
Right-of-useassetsIntangibleassets20,991,719.3021,392,861.88ExpenseonResearchandDevelopmentGoodwillLong-termexpensestobeapportioned10,797,114.6211,520,179.33DeferredincometaxassetOthernon-currentassetTotalnon-currentasset76,994,520.6176,386,716.16Totalassets98,516,771.4687,521,184.25Currentliabilities:
Short-termloansLoanfromcentralbankCapitalborrowedTradingfinancialliabilityDerivativefinancialliabilityNotepayable
2020
Accountpayable382,803.651,250,409.75Accountsreceivedinadvance791,258.55786,715.42ContractualliabilitySellingfinancialassetofrepurchaseAbsorbingdepositandinterbankdepositSecuritytradingofagencySecuritysalesofagencyWagepayable1,835,302.472,552,996.37Taxespayable334,957.93307,257.85Otheraccountpayable2,011,273.022,647,515.86Including:Interestpayable
DividendpayableCommissionchargeandcommissionpayableReinsurancepayableLiabilityheldforsaleNon-currentliabilitiesduewithinoneyear3,358,196.37OthercurrentliabilitiesTotalcurrentliabilities8,713,791.997,544,895.25Non-currentliabilities:
InsurancecontractreserveLong-termloans16,458,140.89BondspayableIncluding:Preferredstock
PerpetualcapitalsecuritiesLeaseliabilityLong-termaccountpayableLong-termwagespayableAccrualliability1,489,685.041,489,685.04DeferredincomeDeferredincometaxliabilitiesOthernon-currentliabilitiesTotalnon-currentliabilities17,947,825.931,489,685.04Totalliabilities26,661,617.929,034,580.29Owner’sequity:
2020
Sharecapital364,100,000.00364,100,000.00Otherequityinstrument
Including:Preferredstock
PerpetualcapitalsecuritiesCapitalpublicreserve54,142,850.0154,142,850.01Less:InventorysharesOthercomprehensiveincomeReasonablereserveSurpluspublicreserveProvisionofgeneralriskRetainedprofit-346,387,696.47-339,756,246.05Totalowner’sequityattributabletoparentcompany71,855,153.5478,486,603.96MinorityinterestsTotalowner’sequity71,855,153.5478,486,603.96Totalliabilitiesandowner’sequity98,516,771.4687,521,184.25LegalRepresentative:YuanXiaopingAccountingPrincipal:FuZongrenAccountingFirm’sPrincipal:FuZongren
2.Balancesheetofparentcompany
InRMBItem2020-6-302019-12-31Currentassets:
Monetaryfunds17,831,539.297,421,452.59TradingfinancialassetsDerivativefinancialassetsNotereceivableAccountreceivable95,154.01311,083.92ReceivablefinancingAccountspaidinadvanceOtheraccountreceivable385,492.93571,744.52
Including:Interestreceivable
DividendreceivableInventories257,461.01254,257.19
2020
ContractualassetsAssetsheldforsaleNon-currentassetsmaturingwithinoneyearOthercurrentassets2,951,509.692,574,442.57Totalcurrentassets21,521,156.9311,132,980.79Non-currentassets:
DebtinvestmentOtherdebtinvestmentLong-termreceivablesLong-termequityinvestments1,000,000.001,000,000.00InvestmentinotherequityinstrumentOthernon-currentfinancialassetsInvestmentrealestate7,667,644.097,909,956.87Fixedassets33,463,950.0535,075,195.98Constructioninprogress4,074,092.55488,522.10ProductivebiologicalassetsOilandnaturalgasassetsRight-of-useassetsIntangibleassets20,991,719.3021,392,861.88ResearchanddevelopmentcostsGoodwillLong-termdeferredexpenses10,797,114.6211,520,179.33DeferredincometaxassetsOthernon-currentassetsTotalnon-currentassets77,994,520.6177,386,716.16Totalassets99,515,677.5488,519,696.95CurrentliabilitiesShort-termborrowingsTradingfinancialliabilityDerivativefinancialliabilityNotespayableAccountpayable382,803.651,250,409.75Accountsreceivedinadvance791,258.55786,715.42Contractualliability
2020
Wagepayable1,835,302.472,552,996.37Taxespayable334,957.93307,210.05Otheraccountspayable2,011,273.022,647,515.86
Including:InterestpayableDividendpayableLiabilityheldforsaleNon-currentliabilitiesduewithinoneyear3,358,196.37Othercurrentliabilities999,468.70999,468.70Totalcurrentliabilities9,713,260.698,544,316.15Non-currentliabilities:
Long-termloans16,458,140.89BondspayableIncluding:preferredstockPerpetualcapitalsecuritiesLeaseliabilityLong-termaccountpayableLongtermemployeecompensationpayableAccruedliabilities1,489,685.041,489,685.04DeferredincomeDeferredincometaxliabilitiesOthernon-currentliabilitiesTotalnon-currentliabilities17,947,825.931,489,685.04Totalliabilities27,661,086.6210,034,001.19Owners’equity:
Sharecapital364,100,000.00364,100,000.00OtherequityinstrumentIncluding:preferredstockPerpetualcapitalsecuritiesCapitalpublicreserve54,142,850.0154,142,850.01Less:InventorysharesOthercomprehensiveincomeSpecialreserveSurplusreserveRetainedprofit-346,388,259.09-339,757,154.25
2020
Totalowner’sequity71,854,590.9278,485,695.76Totalliabilitiesandowner’sequity99,515,677.5488,519,696.95
3.ConsolidatedProfitStatement
InRMBItem2020semi-annual2019semi-annualI.Totaloperatingincome4,981,872.0014,241,961.04Including:Operatingincome4,981,872.0014,241,961.04
InterestincomeInsurancegainedCommissionchargeandcommissionincomeII.Totaloperatingcost11,529,626.8713,646,017.49Including:Operatingcost5,052,678.435,514,477.93InterestexpenseCommissionchargeandcommissionexpenseCashsurrendervalueNetamountofexpenseofcompensationNetamountofwithdrawalofinsurancecontractreserveBonusexpenseofguaranteeslip
ReinsuranceexpenseTaxandextras182,132.20383,479.50Salesexpense2,095,194.242,809,991.94Administrativeexpense4,200,935.355,071,800.21R&DexpenseFinancialexpense-1,313.35-133,732.09Including:Interestexpenses76,128.55
Interestincome89,077.69152,697.12Add:otherincome262,840.35
Investmentincome(Lossislistedwith“-”)Including:Investmentincomeonaffiliatedcompanyandjointventure
Theterminationofincomerecognitionforfinancialassetsmeasuredbyamortizedcost(Lossislistedwith“-”)
Exchangeincome(Lossislistedwith“-”)
2020
Netexposurehedgingincome(Lossislistedwith“-”)Incomefromchangeoffairvalue(Lossislistedwith“-”)Lossofcreditimpairment(Lossislistedwith“-”)Lossesofdevaluationofasset(Lossislistedwith“-”)Incomefromassetsdisposal(Lossislistedwith“-”)III.Operatingprofit(Lossislistedwith“-”)-6,284,914.52595,943.55Add:Non-operatingincome2,593.62160,030.46Less:Non-operatingexpense349,129.52IV.Totalprofit(Lossislistedwith“-”)-6,631,450.42755,974.01Less:IncometaxexpenseV.Netprofit(Netlossislistedwith“-”)-6,631,450.42755,974.01(i)Classifybybusinesscontinuity
1.continuousoperatingnetprofit(netlosslistedwith‘-”)-6,631,450.42755,974.01
2.terminationofnetprofit(netlosslistedwith‘-”)
(ii)Classifybyownership
1.Netprofitattributabletoowner’sofparentcompany-6,631,450.42755,974.01
2.Minorityshareholders’gainsandlosses
VI.Netafter-taxofothercomprehensiveincomeNetafter-taxofothercomprehensiveincomeattributabletoownersofparentcompany(I)Othercomprehensiveincomeitemswhichwillnotbereclassifiedsubsequentlytoprofitofloss
1.Changesofthedefinedbenefitplansthatre-measured
2.Othercomprehensiveincomeunderequitymethodthatcannot
betransfertogain/loss
3.Changeoffairvalueofinvestmentinotherequityinstrument
4.Fairvaluechangeofenterprise'screditrisk
5.Other
(ii)Othercomprehensiveincomeitemswhichwillbereclassifiedsubsequentlytoprofitorloss
1.Othercomprehensiveincomeunderequitymethodthatcan
transfertogain/loss
2.Changeoffairvalueofotherdebtinvestment
3.Amountoffinancialassetsre-classifytoothercomprehensive
income
4.Creditimpairmentprovisionforotherdebtinvestment
2020
5.Cashflowhedgingreserve
6.Translationdifferencesarisingontranslationofforeigncurrency
financialstatements
7.Other
Netafter-taxofothercomprehensiveincomeattributabletominorityshareholdersVII.Totalcomprehensiveincome-6,631,450.42755,974.01
TotalcomprehensiveincomeattributabletoownersofparentCompany-6,631,450.42755,974.01TotalcomprehensiveincomeattributabletominorityshareholdersVIII.Earningspershare:
(i)Basicearningspershare-0.01820.0021(ii)Dilutedearningspershare-0.01820.0021LegalRepresentative:YuanXiaopingAccountingPrincipal:FuZongrenAccountingFirm’sPrincipal:FuZongren
4.ProfitstatementofparentCompany
InRMBItem2020semi-annual2019semi-annualI.Operatingincome4,981,872.0014,241,961.04Less:Operatingcost5,052,678.435,514,477.93Taxesandsurcharge182,132.20383,479.50Salesexpenses2,095,194.242,809,991.94Administrationexpenses4,200,735.355,071,800.21R&DexpensesFinancialexpenses-1,458.93-133,233.30Including:interestexpenses76,128.55
Interestincome89,063.27151,938.33Add:otherincome262,840.35Investmentincome(Lossislistedwith“-”)Including:InvestmentincomeonaffiliatedCompanyandjointventure
Theterminationofincomerecognitionforfinancialassetsmeasuredbyamortizedcost(Lossislistedwith“-”)
Netexposurehedgingincome(Lossislistedwith“-”)Changingincomeoffairvalue(Lossislistedwith“-”)
2020
Lossofcreditimpairment(Lossislistedwith“-”)Lossesofdevaluationofasset(Lossislistedwith“-”)Incomeondisposalofassets(Lossislistedwith“-”)II.Operatingprofit(Lossislistedwith“-”)-6,284,568.94595,444.76
Add:Non-operatingincome2,593.62160,030.46Less:Non-operatingexpense349,129.52III.TotalProfit(Lossislistedwith“-”)-6,631,104.84755,475.22Less:IncometaxIV.Netprofit(Netlossislistedwith“-”)-6,631,104.84755,475.22(i)continuousoperatingnetprofit(netlosslistedwith‘-”)-6,631,104.84755,475.22(ii)terminationofnetprofit(netlosslistedwith‘-”)V.Netafter-taxofothercomprehensiveincome(I)Othercomprehensiveincomeitemswhichwillnotbereclassifiedsubsequentlytoprofitofloss
1.Changesofthedefinedbenefitplansthatre-measured
2.Othercomprehensiveincomeunderequitymethodthatcannotbe
transfertogain/loss
3.Changeoffairvalueofinvestmentinotherequityinstrument
4.Fairvaluechangeofenterprise'screditrisk
5.Other
(II)Othercomprehensiveincomeitemswhichwillbereclassifiedsubsequentlytoprofitorloss
1.Othercomprehensiveincomeunderequitymethodthatcantransfer
togain/loss
2.Changeoffairvalueofotherdebtinvestment
3.Amountoffinancialassetsre-classifytoothercomprehensive
income
4.Creditimpairmentprovisionforotherdebtinvestment
5.Cashflowhedgingreserve
6.Translationdifferencesarisingontranslationofforeigncurrency
financialstatements
7.Other
VI.Totalcomprehensiveincome-6,631,104.84755,475.22VII.Earningspershare:
(i)Basicearningspershare-0.01820.0021(ii)Dilutedearningspershare-0.01820.0021
2020
5.ConsolidatedCashFlowStatement
InRMBItem2020semi-annual2019semi-annualI.Cashflowsarisingfromoperatingactivities:
Cashreceivedfromsellingcommoditiesandprovidinglaborservices5,200,787.1014,988,120.25NetincreaseofcustomerdepositandinterbankdepositNetincreaseofloanfromcentralbankNetincreaseofcapitalborrowedfromotherfinancialinstitutionCashreceivedfromoriginalinsurancecontractfeeNetcashreceivedfromreinsurancebusinessNetincreaseofinsuredsavingsandinvestmentCashreceivedfrominterest,commissionchargeandcommissionNetincreaseofcapitalborrowedNetincreaseofreturnedbusinesscapitalNetcashreceivedbyagentsinsaleandpurchaseofsecuritiesWrite-backoftaxreceived12,691.70Othercashreceivedconcerningoperatingactivities501,830.361,105,441.88Subtotalofcashinflowarisingfromoperatingactivities5,715,309.1616,093,562.13
Cashpaidforpurchasingcommoditiesandreceivinglaborservice2,862,000.804,468,726.47NetincreaseofcustomerloansandadvancesNetincreaseofdepositsincentralbankandinterbankCashpaidfororiginalinsurancecontractcompensationNetincreaseofcapitallentCashpaidforinterest,commissionchargeandcommissionCashpaidforbonusofguaranteeslipCashpaidto/forstaffandworkers5,523,279.646,921,639.62Taxespaid311,265.461,139,283.59Othercashpaidconcerningoperatingactivities1,807,954.182,294,495.80Subtotalofcashoutflowarisingfromoperatingactivities10,504,500.0814,824,145.48Netcashflowsarisingfromoperatingactivities-4,789,190.921,269,416.65II.Cashflowsarisingfrominvestingactivities:
CashreceivedfromrecoveringinvestmentCashreceivedfrominvestmentincomeNetcashreceivedfromdisposaloffixed,intangibleandotherlong-term
300.0068,670.00
2020
assetsNetcashreceivedfromdisposalofsubsidiariesandotherunitsOthercashreceivedconcerninginvestingactivitiesSubtotalofcashinflowfrominvestingactivities300.0068,670.00Cashpaidforpurchasingfixed,intangibleandotherlong-termassets4,541,624.47591,546.00CashpaidforinvestmentNetincreaseofmortgagedloansNetcashreceivedfromsubsidiariesandotherunitsobtainedOthercashpaidconcerninginvestingactivitiesSubtotalofcashoutflowfrominvestingactivities4,541,624.47591,546.00Netcashflowsarisingfrominvestingactivities-4,541,324.47-522,876.00III.CashflowsarisingfromfinancingactivitiesCashreceivedfromabsorbinginvestmentIncluding:Cashreceivedfromabsorbingminorityshareholders’investmentbysubsidiariesCashreceivedfromloans19,791,474.22OthercashreceivedconcerningfinancingactivitiesSubtotalofcashinflowfromfinancingactivities19,791,474.22CashpaidforsettlingdebtsCashpaidfordividendandprofitdistributingorinterestpaying51,265.51Including:DividendandprofitofminorityshareholderpaidbysubsidiariesOthercashpaidconcerningfinancingactivitiesSubtotalofcashoutflowfromfinancingactivities51,265.51Netcashflowsarisingfromfinancingactivities19,740,208.71IV.InfluenceoncashandcashequivalentsduetofluctuationinexchangerateV.Netincreaseofcashandcashequivalents10,409,693.32746,540.65Add:Balanceofcashandcashequivalentsattheperiod-begin7,422,939.8915,364,355.30VI.Balanceofcashandcashequivalentsattheperiod-end17,832,633.2116,110,895.95
6.CashFlowStatementofParentCompany
InRMBItem2020semi-annual2019semi-annualI.Cashflowsarisingfromoperatingactivities:
2020
Cashreceivedfromsellingcommoditiesandprovidinglaborservices5,200,787.1014,988,120.25Write-backoftaxreceived12,691.70Othercashreceivedconcerningoperatingactivities501,815.941,104,683.09Subtotalofcashinflowarisingfromoperatingactivities5,715,294.7416,092,803.34Cashpaidforpurchasingcommoditiesandreceivinglaborservice2,862,000.804,468,726.47Cashpaidto/forstaffandworkers5,523,279.646,921,639.62Taxespaid311,217.661,139,283.59Othercashpaidconcerningoperatingactivities1,807,594.182,294,235.80Subtotalofcashoutflowarisingfromoperatingactivities10,504,092.2814,823,885.48Netcashflowsarisingfromoperatingactivities-4,788,797.541,268,917.86II.Cashflowsarisingfrominvestingactivities:
CashreceivedfromrecoveringinvestmentCashreceivedfrominvestmentincomeNetcashreceivedfromdisposaloffixed,intangibleandotherlong-termassets
300.0068,670.00
NetcashreceivedfromdisposalofsubsidiariesandotherunitsOthercashreceivedconcerninginvestingactivitiesSubtotalofcashinflowfrominvestingactivities300.0068,670.00Cashpaidforpurchasingfixed,intangibleandotherlong-termassets4,541,624.47591,546.00CashpaidforinvestmentNetcashreceivedfromsubsidiariesandotherunitsobtainedOthercashpaidconcerninginvestingactivitiesSubtotalofcashoutflowfrominvestingactivities4,541,624.47591,546.00Netcashflowsarisingfrominvestingactivities-4,541,324.47-522,876.00III.CashflowsarisingfromfinancingactivitiesCashreceivedfromabsorbinginvestmentCashreceivedfromloans19,791,474.22OthercashreceivedconcerningfinancingactivitiesSubtotalofcashinflowfromfinancingactivities19,791,474.22CashpaidforsettlingdebtsCashpaidfordividendandprofitdistributingorinterestpaying51,265.51OthercashpaidconcerningfinancingactivitiesSubtotalofcashoutflowfromfinancingactivities51,265.51Netcashflowsarisingfromfinancingactivities19,740,208.71
2020
IV.InfluenceoncashandcashequivalentsduetofluctuationinexchangerateV.Netincreaseofcashandcashequivalents10,410,086.70746,041.86
Add:Balanceofcashandcashequivalentsattheperiod-begin7,421,452.5914,864,055.73VI.Balanceofcashandcashequivalentsattheperiod-end17,831,539.2915,610,097.59
7.StatementofChangesinOwners’Equity(Consolidated)
ThisPeriod
InRMB
Item
2020semi-annualOwners’equityattributabletotheparentCompany
inorityinterests
Totalowners’
equitySharecapital
Otherequityinstrument
Capitalreserve
Less:
Inventoryshares
Otherco
Mm
prehensiveinco
mm
e
Reasonablereserve
Surplusreserve
Provisionofgeneralrisk
Retainedprofit
OtherSubtotal
Preferredstock
Perpetualcapitalsecurities
Other
I.Balanceattheendofthelastyear
364,100,000.0054,142,850.01-339,756,246.0578,486,603.9678,486,603.96Add:Changesofaccountingpolicy
Errorcorrectionofthelast
2020
period
Enterprisecombineunderthesamecontrol
OtherII.Balanceatthebeginningofthisyear
364,100,000.0054,142,850.01-339,756,246.0578,486,603.9678,486,603.96III.Increase/Decreaseinthisyear(Decreaseislistedwith“-”)
-6,631,450.42-6,631,450.42-6,631,450.42(i)Totalcomprehensiveincome
-6,631,450.42-6,631,450.42-6,631,450.42(ii)Owners’devotedanddecreasedcapital
1.Commonshares
investedbyshareholders
2.Capitalinvestedby
holdersofotherequityinstruments
3.Amountreckonedinto
ownersequitywithshare-basedpayment
4.Other
(III)Profitdistribution
1.Withdrawalofsurplus
reserves
2.Withdrawalofgeneral
riskprovisions
3.Distributionfor
owners(orshareholders)
4.Other
(IV)Carryingforwardinternalowners’equity
1.Capitalreserves
conversedtocapital(sharecapital)
2.Surplusreserves
conversedtocapital(sharecapital)
3.Remedyinglosswith
surplusreserve4Carry-overretainedearningsfromthedefinedbenefitplans5Carry-overretainedearningsfromothercomprehensiveincome
6.Other
(V)Reasonablereserve
1.Withdrawalinthe
reportperiod
2020
2.Usageinthereport
period(VI)OthersIV.Balanceattheendofthereportperiod
364,100,000.0054,142,850.01-346,387,696.4771,855,153.5471,855,153.54LastPeriod
InRMB
Item
2019semi-annualOwners’equityattributabletotheparentCompany
Minorityinterests
Totalowners’equitySharecapital
Otherequityinstrument
Capitalreserve
Less:
Inventoryshares
Otherco
prehensiveinco
mm
e
R
e
a
s
o
n
a
b
l
e
r
e
s
e
r
v
e
Surplusreserve
Provisionofgeneralrisk
Retainedprofit
Other
Subtotal
Preferredstock
Perpetualcapitalsecurities
Other
I.Balanceattheendofthelastyear
364,100,000.0054,142,850.01-340,454,153.7277,788,696.2977,788,696.29Add:Changesofaccountingpolicy
Errorcorrectionofthelastperiod
Enterprisecombineunderthe
2020
samecontrol
OtherII.Balanceatthebeginningofthisyear
364,100,000.0054,142,850.01-340,454,153.7277,788,696.2977,788,696.29III.Increase/Decreaseinthisyear(Decreaseislistedwith“-”)
755,974.01755,974.01755,974.01(i)Totalcomprehensiveincome
755,974.01755,974.01755,974.01(ii)Owners’devotedanddecreasedcapital
1.Commonshares
investedbyshareholders
2.Capitalinvestedby
holdersofotherequityinstruments
3.Amountreckoned
intoownersequitywithshare-basedpayment
4.Other
(III)Profitdistribution
1.Withdrawalof
surplusreserves
2.Withdrawalof
generalriskprovisions
3.Distributionfor
owners(orshareholders)
4.Other
(IV)Carryingforwardinternalowners’equity
1.Capitalreserves
conversedtocapital(sharecapital)
2.Surplusreserves
conversedtocapital(sharecapital)
3.Remedyingloss
withsurplusreserve4Carry-overretainedearningsfromthedefinedbenefitplans5Carry-overretainedearningsfromothercomprehensiveincome
6.Other
(V)Reasonablereserve
1.Withdrawalinthe
reportperiod
2020
2.Usageinthereport
period(VI)OthersIV.Balanceattheendofthereportperiod
364,100,000.0054,142,850.01-339,698,179.7178,544,670.3078,544,670.30
8.StatementofChangesinOwners’Equity(ParentCompany)ThisPeriod
InRMB
Item
2020semi-annual
Sharecapital
Otherequityinstrument
Capitalpublicreserve
Less:
Inventoryshares
Otherco
prehensiveinco
mm
e
Reasonablereserve
Surplusreserve
Retainedprofit
OtherTotalowners’equity
Preferredstock
Perpetualcapitalsecurities
Other
I.Balanceattheendofthelastyear364,100,000.0054,142,850.01-339,757,154.2578,485,695.76Add:Changesofaccountingpolicy
ErrorcorrectionofthelastperiodOtherII.Balanceatthebeginningofthisyear364,100,000.0054,142,850.01-339,757,154.2578,485,695.76III.Increase/Decreaseinthisyear(Decreaseislistedwith“-”)
-6,631,104.84-6,631,104.84
2020
(i)Totalcomprehensiveincome-6,631,104.84-6,631,104.84(ii)Owners’devotedanddecreasedcapital
1.Commonsharesinvestedbyshareholders
2.Capitalinvestedbyholdersofotherequity
instruments
3.Amountreckonedintoownersequitywith
share-basedpayment
4.Other
(III)Profitdistribution
1.Withdrawalofsurplusreserves
2.Distributionforowners(orshareholders)
3.Other
(IV)Carryingforwardinternalowners’equity
1.Capitalreservesconversedtocapital(share
capital)
2.Surplusreservesconversedtocapital(share
capital)
3.Remedyinglosswithsurplusreserve
4Carry-overretainedearningsfromthedefinedbenefitplans5Carry-overretainedearningsfromothercomprehensiveincome
6.Other
(V)Reasonablereserve
1.Withdrawalinthereportperiod
2.Usageinthereportperiod
(VI)OthersIV.Balanceattheendofthereportperiod364,100,000.0054,142,850.01-346,388,259.0971,854,590.92Lastperiod
InRMB
Item
2019semi-annual
Sharecapital
Otherequityinstrument
Capitalpublic
reserve
Less:
Inventorysha
Otherco
prehensive
Reasonablereserve
Surplusreserve
Retainedprofit
Other
Totalowners’
equity
Preferredstock
Perpetualcapit
Other
2020
res
inco
e
alsecuritiesI.Balanceattheendofthelastyear364,100,000.0054,142,850.01-340,454,153.7277,788,696.29Add:ChangesofaccountingpolicyErrorcorrectionofthelastperiodOtherII.Balanceatthebeginningofthisyear364,100,000.0054,142,850.01-340,454,153.7277,788,696.29III.Increase/Decreaseinthisyear(Decreaseislistedwith“-”)
755,475.22755,475.22(i)Totalcomprehensiveincome755,475.22755,475.22(ii)Owners’devotedanddecreasedcapital
1.Commonsharesinvestedbyshareholders
2.Capitalinvestedbyholdersofotherequity
instruments
3.Amountreckonedintoownersequitywith
share-basedpayment
4.Other
(III)Profitdistribution
1.Withdrawalofsurplusreserves
2.Distributionforowners(orshareholders)
3.Other
(IV)Carryingforwardinternalowners’equity
1.Capitalreservesconversedtocapital(share
capital)
2.Surplusreservesconversedtocapital(share
capital)
3.Remedyinglosswithsurplusreserve
4Carry-overretainedearningsfromthedefinedbenefitplans5Carry-overretainedearningsfromothercomprehensiveincome
6.Other
(V)Reasonablereserve
1.Withdrawalinthereportperiod
2.Usageinthereportperiod
(VI)OthersIV.Balanceattheendofthereportperiod364,100,000.0054,142,850.01-339,698,678.5078,544,171.51
2020
III.Companyprofile
(I)OverviewHainanDadonghaiTourismCentre(Holdings)Co.,Ltd.(hereinafterreferredtoasthe"Company")isastandardizedcompanylimitedbysharesestablishedonApril26,1993andrestructuredfromHainanSanyaDadonghaiTourismCentreDevelopmentCo.,Ltd.withtheapprovalofHainanShareholdingSystemPilotGroupofficeviaitsDocumentQiongGuBanZi[1993]No.11.OnMay6,1996,theCompanywasreorganizedandseparatedwiththereplyofHainanSecuritiesManagementOfficebyitsDocumentQiongZhengBan[1996]No.58.OnOctober8,1996andJanuary28,1997,theCompanywasapprovedtorespectivelyissue80millionBsharesand14millionAsharesonShenzhenStockExchangeandlistforsales.OnJune20,2007,theCompanycarriedoutthesplitsharestructurereform.Thenon-tradableshareholdersoftheCompanypaidsharestothetradableshareholdersforobtainingthecirculationrights,andthetradableshareholdersgot3sharesforevery10shares.TheCompanybelongstotourismandcateringserviceindustry.
AsatJune30,2020,theCompany'saccumulativetotalissuedcapitalwas364.1millionsharesandtheCompany'sregisteredcapitalwasRMB364.1million.Legalrepresentative:YuanXiaoping.Unifiedsocialcreditcode:91460000201357188U.Domicile:Dadonghai,HedongDistrict,Sanya.Businessscope:
Accommodationandcateringindustry(limitedtobranches);photography;flowerbonsai,knitwear,generalmerchandise,hardwareandelectricalequipment,chemicalproducts(exceptfranchisedoperations),dailynecessities,industrialmeansofproduction(exceptfranchisedoperations),metalmaterials,machineryequipment;salesoftrain,busandvehicleticketsonanagentbasis,etc.TheCompany'slargestshareholderisLuoniushanCo.,Ltd.(II)Scopetotheconsolidatedfinancialstatements
Asat30June2019,thesubsidiaryincludedintotheCompany'sscopeofconsolidatedfinancialstatementsisasfollows:
NameHainanWengaoTouristResourcesDevelopmentCo.,Ltd.(hereinafterreferredtoas"theWengaoTourism")See“NoteVI.Changesinthescopeofconsolidation"and“NoteVII.Equityinotherentities"fordetailsofthescopeofconsolidatedfinancialstatementsandchangesthereof.ThefinancialstatementswereapprovedbyalldirectorsoftheCompanyfordisclosureonAugust20,2020.IV.Basicforthepreparationofthefinancialstatements
1.Preparationbasis
Basedongoingconcernandaccordingtoactuallyoccurredtransactionsandevents,theCompanypreparedfinancialstatementsinaccordancewiththeAccountingStandardsforBusinessEnterprises—BasicStandardsandthespecificaccountingstandards,theAccountingStandardsforBusinessEnterprises-ApplicationGuidance,theAccountingStandardsforBusinessEnterprises-Interpretationandotherrelevant
2020
provisions,issuedbytheMinistryofFinance,(hereinafterreferredtocollectivelyasthe"AccountingStandardsforBusinessEnterprises"),aswellasthedisclosureprovisionsoftheRulesfortheCompilationandSubmissionofInformationDisclosurebyCompaniesOfferingSecuritiestothePublicNo.15-GeneralRequirementsforFinancialReports.
2.Goingconcern
TheCompanycurrentlyhassufficientworkingcapitalandnormaloperatingconditions.ItisestimatedthattheoperatingactivitiesoftheCompanywillstillcontinueinthenext12months.V.Significantaccountingpoliciesandaccountingestimates
Specificaccountingpoliciesandestimationattention:
AccordingtorelevantregulationsofAccountingStandardsforBusinessEnterprisesandaccountingmechanism,combinedwiththeactualoperatingcharacteristicstoformulatedthecorrespondingaccountingpoliciesandestimates.
1.StatementoncompliancewiththeAccountingStandardsforBusinessEnterprisesThefinancialstatementspreparedbytheCompanymeetrequirementsoftheAccountingStandardsforBusinessEnterprises,andtrulyandcompletelyreflecttheconsolidatedandtheCompany’sfinancialpositionasof30June,2020aswellasoperationresultsandcashflowsforthehalfyearof2020.
2.Accountingperiod
TheaccountingyearisfromJanuary1toDecember31incalendaryear.
3.Operatingcycle
TheCompany'soperatingcycleis12months.
4.Reportingcurrency
TheCompanyadoptsRMBasitsreportingcurrency.
5.AccountingTreatmentMethodforBusinessCombinations(underthesame/differentcontrol)Businesscombinationundercommoncontrol:TheassetsandliabilitiesacquiredbytheCompanyinbusinesscombinationsaremeasuredatbookvaluesofassetsandliabilitiesofthecombinee(includingthegoodwillarisingfromtheacquisitionofthecombineebytheultimatecontroller)intheconsolidatedfinancialstatementsoftheultimatecontrolleronthecombinationdate.Thestockpremiuminthecapitalreservesisadjustedaccordingtothedifferencebetweenthebookvalueofthenetassetsacquiredinbusiness
2020
combinationandthebookvalueoftheconsiderationpaidforthecombination(ortotalparvalueofsharesissued).Ifthereisnosufficientstockpremiuminthecapitalreservesforwrite-downs,theretainedearningsshallbeadjusted.Businesscombinationnotundercommoncontrol:TheCompanyshall,ontheacquisitiondate,measuretheassetssurrenderedandliabilitiesincurredorassumedbytheCompanyforabusinesscombinationattheirfairvalues.Thedifferencebetweenthefairvalueandtheirbookvalueshallbeincludedinthecurrentprofitorloss.TheCompanyshallrecognizethedifferenceofthecombinationcostsinexcessofthefairvalueoftheidentifiablenetassetsacquiredfromtheacquireeasgoodwill.TheCompanyshallrecognizethedifferenceofthecombinationcostsinshortofthefairvalueoftheidentifiablenetassetsacquiredfromtheacquireeinthecurrentprofitorlossafterreview.Theauditing,legalservices,consultingandotherintermediaryservicefeesaswellasotherrelevantdirectexpensesforbusinesscombinationwillbeincludedinthecurrentprofitorlossatoccurrence;thetransactioncostsfortheissueofequitysecuritiesshallbeusedtowritedownequities.
6.Preparationmethodsofconsolidatedfinancialstatements
1)Scopeofconsolidation
ThescopeofconsolidatedfinancialstatementsoftheCompanyisdeterminedonthebasisofcontrol,andallitssubsidiaries(includingtheinvestee'spartiblepartthatisundercontroloftheCompany)shallbeincludedintheconsolidatedfinancialstatements.
2)Proceduresofconsolidation
TheCompanypreparestheconsolidatedfinancialstatementsbasedonfinancialstatementsofitselfanditssubsidiariesandaccordingtootherrelevantinformation.Uponpreparationofconsolidatedfinancialstatements,theCompanyshalldeemthewholegroupasawholeaccountingentity,andreflectstheoverallfinancialposition,operatingresultsandcashflowsofthegroupinaccordancewithrelevantrequirementsforrecognition,measurementandpresentationasstatedintheAccountingStandardsforBusinessEnterprisesaswellasuniformaccountingpolicies.AllthesubsidiarieswithintheconsolidationscopeofconsolidatedfinancialstatementsshalladoptthesameaccountingpoliciesandaccountingperiodsasthoseoftheCompany.IftheaccountingpoliciesoraccountingperiodsofasubsidiaryaredifferentfromthoseoftheCompany,theconsolidatedfinancialstatementsofthesubsidiary,uponpreparationofconsolidatedfinancialstatements,shallbeadjustedaccordingtotheaccountingpoliciesandaccountingperiodsoftheCompany.Forthesubsidiariesacquiredthroughbusiness
2020
combinationnotunderthesamecontrol,adjustmentstotheirfinancialstatementsshallbemadebasedonthefairvaluesofnetidentifiableassetsontheacquisitiondate.Forasubsidiaryacquiredthroughbusinesscombinationundercommoncontrol,adjustmenttoitsfinancialstatementsshallbemadebasedonthebookvaluesofitsassetsandliabilities(includinggoodwillformedintheacquisitionofthesubsidiarybyitsultimatecontroller)aspresentedinthefinancialstatementsoftheultimatecontroller.Theshareofowners'equity,currentnetprofitsandlosses,andcurrentcomprehensiveincomeofsubsidiariesattributabletominorityownersshallberespectivelyandseparatelylistedundertheowner'sequityitemofaconsolidatedbalancesheet,thenetprofititemofaconsolidatedincomestatement,andthetotalcomprehensiveincomeinaconsolidatedincomestatement.Wherethecurrentlossessharedbyaminorityshareholderofasubsidiaryexceedsthebalancesarisingfromthesharesenjoyedbytheminorityshareholderintheowners'equityofthesubsidiaryatthebeginningoftheperiod,minorityequityshallbewrittendownaccordingly.
(1)Increaseofsubsidiariesorbusiness
Duringthereportingperiod,iftheCompanyacquiredsubsidiariesorbusinessfromthebusinesscombinationundercommoncontrol,thebeginningbalanceintheconsolidatedstatementoffinancialpositionshallbeadjusted;therevenue,expensesandprofitsofthenewlyacquiredsubsidiariesorbusinessfromthebeginningtotheendofthereportingperiodshallbeincludedintotheconsolidatedincomestatement;thecashflowsofthenewlyacquiredsubsidiariesorbusinessfromthebeginningtotheendofthereportingperiodshallbeincludedintheconsolidatedstatementofcashflow.Relevantitemsinthecomparativefinancialstatementsofthesubsidiariesshallbeadjustedaccordingly,asifthereportingentityafterthebusinesscombinationexistsatthetimewhentheultimatecontrollerhasthecontrolpower.Wherecontrolcanbeexercisedontheinvesteeunderthecommoncontrolforadditionalinvestmentorotherreasons,adjustmentwillbemadeasifallpartiesinvolvedinthecombinationexistatthebeginningofthecontrolbytheultimatecontroller.Equityinvestmentsheldbeforethecontroloverthecombinedpartyisobtained,therelatedgainsandlosses,othercomprehensiveincomeaswellasotherchangesinnetassetsrecognizedfromthelaterofthedatewhentheoriginalequityisobtainedorthedatewhentheacquirerandtheacquireeareunderthesamecontrol,tothecombinationdatewillrespectivelywritedowntheretainedearningsorcurrentprofitorlossinthecomparativestatements.Duringthereportingperiod,iftheCompanyincreasedsubsidiariesorbusinessfrombusinesscombinationsnotundercommoncontrol,thebeginningbalanceintheconsolidatedbalancesheetshallnotbeadjusted;therevenue,expensesandprofitsofthesubsidiariesorbusinessfromtheacquisitiondatetotheendofthereportingperiodshallbeincludedintheconsolidatedincomestatement;cashflowsofthesubsidiariesand
2020
businessfromtheacquisitiondatetotheendofthereportingperiodshallbeincludedintheconsolidatedstatementofcashflows.WheretheCompanycancontroltheinvesteenotundercommoncontrolfromadditionalinvestments,itshallre-measureequityoftheacquireeheldbeforetheacquisitiondateatthefairvalueofsuchequityontheacquisitiondateandincludethedifferenceofthefairvalueandbookvalueintheinvestmentincomeintheyear.Whereequityoftheacquireeheldbeforetheacquisitiondateinvolvesinothercomprehensiveincomeaccountedforunderequitymethodandotherchangesinowners'equityotherthannetprofitsorlosses,othercomprehensiveincomeandprofitdistribution,therelevantothercomprehensiveincomeandotherchangesinowners'equityshallbetransferredtoinvestmentincomeintheyearwhichtheacquisitiondatefallsin,exceptforothercomprehensiveincomefromchangesarisingfromre-measurementofnetliabilitiesornetassetsofdefinedbenefitplanbytheinvestee.
(2)Disposalofsubsidiariesorbusiness
GeneralmethodoftreatmentDuringthereportingperiod,wheretheCompanydisposesofanysubsidiaryorbusiness,therevenues,expensesandprofitsofthesubsidiaryorbusinessfromthebeginningperiodtothedisposaldateshallbeincludedintheconsolidatedincomestatement;cashflowsofthesubsidiaryorbusinessfromthebeginningperiodtothedisposaldateshallbeincludedintheconsolidatedstatementofcashflows.WhentheCompanylosesthecontrolovertheinvesteeduetodisposalofpartialequityinvestmentorotherreasons,theremainingequityinvestmentafterthedisposalwillbere-measuredbytheCompanyatitsfairvalueonthedateoflossofthecontrol.Thedifferenceofthesumoftheconsiderationacquiredfromdisposalofequitiesandthefairvalueoftheremainingequitieslessthesumofthesharecalculatedattheoriginalshareholdingratioinnetassetsoftheoriginalsubsidiarywhicharecontinuouslycalculatedasoftheacquisitiondateorthecombinationdateandgoodwillshallbeincludedintheinvestmentincomeoftheperiodinwhichthecontrolislost.Othercomprehensiveincomesassociatedwiththeequityinvestmentsoftheoriginalsubsidiary,orthechangesinowners'equityotherthannetprofitorloss,othercomprehensiveincomeandprofitdistribution,aretransferredintoinvestmentincomeoftheperiodwhenthecontrolislost,exceptforothercomprehensiveincomefromthechangeinnetliabilityornetassetduetotheinvestor'sre-measurementofdefinedbenefitplan.WheretheCompanylosesthecontrolofanysubsidiaryduetothedeclineinitsshareholdingratiointhesubsidiary,causedbytheincreaseofinvestmentinthesubsidiarybyotherinvestors,theaccountingtreatmentshallbeconductedaccordingtotheaboveprinciples.DisposalofsubsidiariesbystagesIfthecontrolislostduetodisposaloftheequitiesinsubsidiariesthroughmultipletransactionsbystages,andthe
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terms,conditionsandeconomicimpactofthetransactionsrelatedtotheenterprise'sdisposalofitsinvestmentinthesubsidiariesmeetoneormoreofthefollowingcircumstances,itusuallyindicatesthatmultipletransactionsshouldbeincludedinapackagedealandsubjecttoaccountingprocessingasbelow:
i.Thesetransactionsareconcludedatthesametimeorundertheconsiderationofmutualeffect;ii.Thesetransactionsasawholecanreachacompletebusinessresult;iii.Theoccurrenceofatransactiondependsontheoccurrenceofatleastoneothertransaction;iv.Asingletransactionisuneconomicalbutiseconomicalwhenconsideredtogetherwithothertransactions.Wherevarioustransactionsofdisposalofequityinvestmentsinsubsidiariesuntillossofthecontrolbelongtoapackagedeal,accountingtreatmentshallbemadebytheCompanyonthetransactionsasatransactiontodisposesubsidiariesandlosethecontrol;however,thedifferencebetweeneachdisposalcostandnetassetshareinthesubsidiariescorrespondingtoeachdisposalofinvestmentsbeforelossofthecontrolshouldberecognizedasothercomprehensiveincomeintheconsolidatedfinancialstatementsandshouldbetransferredintothecurrentprofitorlossatthelossofthecontrol.Wherevarioustransactionsofdisposalofequityinvestmentsinsubsidiariesuntillossofthecontroldonotbelongtoapackagedeal,beforethelossofthecontrol,accountingtreatmentshallbemadeaccordingtotherelevantpoliciesforpartialdisposalofequityinvestmentsinthesubsidiarywithoutlosingcontrol;atthelossofthecontrol,accountingtreatmentshallbemadeaccordingtogeneraltreatmentmethodsfordisposalofsubsidiaries.
(3)Purchaseofminorityinterestofsubsidiaries
Thesharepremiuminthecapitalreservesundertheconsolidatedbalancesheetwillbeadjustedatthedifferencebetweenthelong-termequityinvestmentacquiredbytheCompanyforthepurchaseofminorityinterestandtheshareofnetassetscalculatedconstantlyfromtheacquisitiondate(orcombinationdate)accordingtothenewlyincreasedshareholdingratio.Wherethesharepremiumisinsufficienttooffset,retainedearningswillbeadjusted.
(4)PartialdisposalofequityinvestmentsinsubsidiarieswithoutlosingcontrolThesharepremiuminthecapitalreservesundertheconsolidatedbalancesheetwillbeadjustedatthedifferencebetweentheproceedsachievedfromthepartialdisposaloflong-termequityinvestmentsinsubsidiariesandtheshareofnetassetsofsubsidiariesattributabletotheCompanycorrespondingtothedisposaloflong-termequityinvestmentsandcalculatedconstantlyfromtheacquisitiondateorcombinationdate,withoutlosingthecontrol.Wherethesharepremiumisinsufficienttowritedown,theretainedearningswillbeadjusted.
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7.ClassificationandaccountingtreatmentofjointventurearrangementsJointventurearrangementsareclassifiedintojointoperationandjointventure.JointoperationrefersthejointventurearrangementwheretheCompanyisajointventurerandenjoysassetsrelevantthejointventurearrangementandassumesliabilitiesrelevanttothesame.TheCompanyrecognizesthefollowingitemsrelatedtoitsshareofbenefitsinthejointoperationandconductaccountingtreatmentinaccordancewithrelevantaccountingstandardsforbusinessenterprises:
(1)AssetspeculiartotheCompanyandassetsjointlyownedbytheCompanybasedonsharesheld;
(2)LiabilitiesundertakenbytheCompanysolelyandliabilitiesjointlyundertakenbytheCompanybasedonsharesheld;
(3)RevenuefromthesalesofoutputshareenjoyedbytheCompanyinthejointoperation;
(4)RevenuefromthesalesofthejointoperationoutputbasedonthesharesheldbytheCompany;and
(5)Separatecosts,andcostsforthejointoperationbasedonthesharesheldbytheCompany.
8.Recognitioncriteriaofcashandcashequivalents
Forthepurposeofpreparingthestatementofcashflows,theterm“cash”referstothecashonhandandtheunrestricteddepositoftheCompany.Theterm“cashequivalents”referstoshort-term(maturingwithinthreemonthsfromacquisition)andhighlyliquidinvestmentsthatarereadilyconvertibletoknownamountsofcashandwhicharesubjecttoaninsignificantriskofchangeinvalue.
9.ForeigncurrencybusinessandforeigncurrencystatementconversionForeigncurrencytransactionswillbetranslatedatthespotexchangerateonthetransactiondateandbeaccountedforatRMB.Thebalanceofforeigncurrencymonetaryitemsaretranslatedatthespotexchangerateonthebalancesheetdateandtheexchangedifferencesarisingtherefromshallbeincludedinthecurrentprofitandloss,exceptthoseexchangedifferencesarisingfromthespecialborrowingsofforeigncurrencyrelatedtotheacquiredandconstructedassetsqualifiedforcapitalizationthatwillbecapitalizedattheborrowingexpenses.Foreigncurrencynon-monetaryitemsmeasuredathistoricalcostsshallstillbeconvertedatthespotexchangerateswhenthetransactionsoccur,withoutchangingthefunctionalcurrencyamount.Foreigncurrencynon-monetaryitemsmeasuredatfairvalueshallbetranslatedatthespotexchangeratesonthedaywhenthefairvalueisdetermined.Theexchangedifferencearisingtherefromisincludedinthecurrentprofitandlossorcapitalreserves.
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10.Financialinstruments
Financialinstrumentsincludefinancialassets,financialliabilitiesandequityinstruments.
1)Classificationoffinancialinstruments
Uponinitialrecognition,financialassetsandfinancialliabilitiesareclassifiedinto:financialassetsorfinancialliabilitiesmeasuredatfairvaluethroughcurrentprofitandloss,includingfinancialassetsorfinancialliabilitiesheldfortradingandfinancialassetsorfinancialliabilitiesdirectlydesignatedtobemeasuredatfairvaluethroughcurrentprofitandloss;held-to-maturityinvestments;receivables;available-for-salefinancialassets;andotherfinancialliabilities,etc.
2)Recognitionandmeasurementoffinancialinstruments
(1)Financialassets(financialliabilities)measuredatfairvaluethroughcurrentprofitandlossFinancialassets(financialliabilities)measuredatfairvaluethroughcurrentprofitandlossareinitiallyrecognizedatthefairvalueuponacquisition(netofcashdividendsdeclaredbutnotyetpaidorbondinterestduebutnotyetreceived)andtherelatedtransactioncostsareincludedincurrentprofitandloss.Theinterestsorcashdividendstobereceivedduringtheholdingperiodarerecognizedasinvestmentincome.Changeinfairvaluesisincludedinthecurrentprofitandlossattheendoftheperiod.Thedifferencebetweenthefairvalueandtheinitialbook-entryvalueisrecognizedasinvestmentincomeupondisposal;meanwhile,adjustmentsaremadetoprofitsorlossesfromchangesinfairvalues.
(2)Held-to-maturityinvestments
Held-to-maturityinvestmentsareinitiallyrecognizedatthesumofthefairvalue(netofbondinterestduebutnotyetreceived)andrelatedtransactioncostsuponacquisition.Theinterestincomeiscalculatedandrecognizedaccordingtoamortizedcostsandeffectiveinterestrates(aspercouponratesifthedifferencebetweeneffectiveinterestratesandcouponratesissmall)duringtheholdingperiod,andisincludedintheinvestmentincome.Theeffectiveinterestratesaredetermineduponacquisitionandremainunchangedduringtheexpectedremainingperiod,orashorterperiodifapplicable.Upondisposal,thedifferencebetweenthepurchasepriceobtainedandthebookvalueoftheinvestmentisrecognizedininvestmentincome.
(3)Receivables
Forcreditor’srightsreceivablearisingfromexternalsalesofgoodsorrenderingofservicebytheCompanyandothercreditor'srightsofotherenterprises(excludingliabilityinstrumentsquotedinanactivemarket)heldbytheCompany,includingaccountsreceivable,otherreceivables,notesreceivable,prepaymentandothers,theinitialrecognitionamountshallbethecontractpriceoragreementpricereceivablefrompurchasingparty;forthosewithfinancingnature,theyareinitiallyrecognizedattheirpresentvalues.Uponrecoveryordisposal,thedifferencebetweenthepurchasepriceobtainedandthebookvalueofthereceivablesisrecognizedincurrentprofitandloss.
(4)Available-for-salefinancialassets
Financialassets(financialliabilities)measuredatfairvaluethroughcurrentprofitandlossareinitiallyrecognized
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atthefairvalueandrelatedtransactionexpensesuponacquisition(netofcashdividendsdeclaredbutnotyetpaidorbondinterestduebutnotyetreceived).Theinterestsorcashdividendstobereceivedduringtheholdingperiodarerecognizedasinvestmentincome.Theinterestorcashdividendsshouldbemeasuredatfairvalueandtheirchangesinfairvalueshouldbeincludedinothercomprehensiveincome.However,foranequityinstrumentinvestmentthathasnoquotedpriceinanactivemarketandwhosefairvaluecannotbereliablymeasured,andforderivativefinancialassetlinkedtothesaidequityinstrumentinvestmentandsettledbydeliveryofthesameequityinstrument,theyshallbemeasuredatcost.Differencebetweentheproceedsandthebookvalueofthefinancialassetsisrecognizedasinvestmentprofitorlossupondisposal;meanwhile,amountofdisposalcorrespondingtotheaccumulatedchangeinfairvaluewhichisoriginallyanddirectlyincludedinothercomprehensiveincomeshallbetransferredoutandrecognizedasinvestmentgainsorlosses.
(5)Otherfinancialliabilities
Otherfinancialliabilitiesareinitiallyrecognizedatthesumoffairvalueandtransactionexpenses,andsubsequentlymeasuredatamortizedcosts.Subsequentmeasurementisconductedattheamortizedcost.
3)Recognitionandmeasurementoftransferoffinancialassets
Whenafinancialassetstransferoccurs,thefinancialassetswillbederecognizedwhensubstantiallyalltherisksandrewardsontheownershipofthefinancialassetshavebeentransferredtothetransferee;andtheywillnotbederecognizedifsubstantiallyalltherisksandrewardsontheownershipofthefinancialassetshavebeenretained.Whendeterminingwhetherthetransferofafinancialassetmeetstheabovede-recognitioncriteriaoffinancialassets,theCompanyadoptstheprincipleofsubstanceoverform.TheCompanyclassifiesthetransferofafinancialassetintotheentiretransferandthepartialtransferoffinancialasset.Wheretheentiretransferofthefinancialassetmeetsthede-recognitionconditions,thedifferenceofthefollowingtwoamountswillbeincludedincurrentprofitandloss:
(1)Thebookvalueofthetransferredfinancialasset;
(2)Thesumoftheconsiderationreceivedfromthetransferandtheaccumulatedamountofthechangesinfairvalueoriginallyanddirectlyincludedinowners’equity(thesituationwherethefinancialassettransferredisanavailable-for-salefinancialassetisinvolvedin).Ifthepartialtransferoffinancialassetsatisfiesthecriteriaforde-recognition,theentirebookvalueofthetransferredfinancialassetshallbesplitintothederecognizedandrecognizedpartaccordingtotheirrespectivefairvalueandthedifferencebetweentheamountsofthefollowingtwoitemsshallbeincludedinthecurrentprofitandloss:
(1)Thebookvalueofthederecognizedpart;
(2)Thesumoftheconsiderationforthederecognizedpartandtheportionofde-recognitioncorrespondingtotheaccumulatedamountofthechangesinfairvalueoriginallyanddirectlyincludedinowners’equity(thesituationwherethefinancialassettransferredisanavailable-for-salefinancialassetisinvolvedin).Ifthetransferoffinancialassetsdoesnotmeetthede-recognitioncriteria,thefinancialassetsshallcontinuetoberecognized,andtheconsiderationreceivedwillberecognizedasafinancialliability.
4)De-recognitioncriteriaoffinancialliabilities
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Wherethepresentobligationsoffinancialliabilitieshavebeendischargedinwholeorinpart,thefinancialliabilityisderecognizedoranypartthereofwillbederecognized;iftheCompanysignsanagreementwithcreditorstoreplacetheexistingfinancialliabilitiesbyundertakingnewfinancialliabilities,andthenewfinancialliabilitiesaresubstantiallydifferentfromtheexistingonesintermsofcontractterms,theexistingfinancialliabilitieswillbederecognized,andatthesametime,thenewfinancialliabilitywillberecognized.Wheresubstantivechangesaremadetothecontracttermsofexistingfinancialliabilityinwholeorinpart,theexistingfinancialliabilitiesorpartthereofwillbederecognized,andthefinancialliabilitythetermsofwhichhavebeenmodifiedwillberecognizedasanewfinancialliability.Wherefinancialliabilitiesarederecognizediswholeorinpart,thedifferencebetweenthebookvalueofthefinancialliabilitiesderecognizedandtheconsiderationpaid(includingnon-cashassetstransferredoutornewfinancialliabilitiesborne)willbeincludedintocurrentprofitandloss.WheretheCompanyrepurchasespartofafinancialliability,theentirebookvalueofthefinancialliabilityshallbesplitintothederecognizedpartandcontinuously-recognizedpartaccordingtotheirrespectiverelativelyfairvaluesontherepurchasedate.Thedifferencebetweenthebookvalueofthederecognizedpartandtheconsiderationpaid(includingnon-cashassetstransferredoutornewfinancialliabilitiesassumed)shallbeincludedinthecurrentprofitandloss.
5)MethodofdeterminingthefairvalueoffinancialassetsandfinancialliabilitiesThefairvalueofafinancialinstrument,forwhichthereisanactivemarket,isthepricesquotedforittherein.Fairvalueofafinancialinstrumenthavingnoactivemarketshallbedeterminedbyusingvaluationtechniques.Atthetimeofvaluation,theCompanyadoptsthetechniquesthatareapplicableinthecurrentsituationandsupportedbyenoughavailabledataandotherinformation,selectstheinputvaluesthatareconsistentwiththefeaturesofassetsorliabilitiesasconsideredbymarketparticipantsinrelevantassetorliabilitytransactions,andgivesprioritytouserelevantobservableinputs.Theunobservableinputsareusedonlyunderthecircumstancewhenitisimpossibleorunobservableinputstoobtainrelevantobservableinputs.
6)TestingandaccountingmethodsofimpairmentoffinancialassetsAccountingpoliciesapplicableasof1January2019TheCompanyestimates,individuallyorincombination,theexpectedcreditlossesoffinancialassetsmeasuredatamortizedcostandfinancialassets(debtinstruments)measuredatfairvaluewhosechangesareincludedinothercomprehensiveincome,takingintoaccountallreasonableandevidence-basedinformation,includingforward-lookinginformation.Themeasurementofexpectedcreditlossesdependonwhetherthecreditriskoffinancialassetshasincreasedsignificantlysincetheinitialrecognition.Ifthecreditriskofthefinancialinstrumentshasincreasedsignificantlysincetheinitialrecognition,theCompanyshallmeasurethelossprovisionattheamountequivalenttotheexpectedcreditlossofthefinancialinstrumentfortheentirelifeoftheinstrument.Ifthecreditriskofthefinancialinstrumentshasnotincreasedsignificantlysincetheinitialrecognition,theCompanyshallmeasurethelossprovisionattheamountequivalenttotheexpectedcreditlossofthefinancialinstrumentinthenext12months.Theincreaseorrolloveramountofthelossprovisionresultingtherefromshallberecordedinthecurrentprofitandlossasanimpairmentlossorgain.
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Thecreditriskoftheinstrumentisgenerallydeemedtohaveincreasedsignificantlyifthedefaultismorethan30days,unlessthereisconclusiveevidencethatthecreditriskoftheinstrumenthasnotincreasedsignificantlysincetheinitialconfirmation.Ifthecreditriskofthefinancialinstrumentislowonthebalancesheetdate,theCompanyconsidersthatthecreditriskofthefinancialinstrumenthasnotincreasedsignificantlysincetheinitialrecognition.Ifthereisobjectiveevidencethatthecreditimpairmentofafinancialassethasoccurred,theCompanyshallmakeprovisionfortheimpairmentofthefinancialassetonasinglebasis.
11.Notereceivable
Consistentwiththeaccountsreceivableaccountingpolicy.
12.Accountreceivable
Foraccountreceivables,whetherornottheycontainsignificantfinancingelements,theCompanymeasuresthelossprovisionsaccordingtotheexpectedcreditlossforthewholeduration.Foraccountreceivableshavingobjectiveevidencethatthereisanimpairmentandapplicabletoasingleassessment,shallbesubjectedtoanimpairmenttest,toconfirmtheexpectedcreditloss,andmakeasingleimpairmentprovision.Foraccountreceivableswithoutobjectiveevidenceofimpairment,orwhenasinglefinancialassetcannotbeevaluatedthecreditlossatareasonablecost,theCompanydividesaccountreceivablesintoseveralportfoliosaccordingtothecreditriskcharacteristics,tocalculatetheexpectedcreditlossonthebasisoftheportfolios.Thebasisfordeterminingtheportfoliosisasfollows:
PortfolioNameBasisAccountReceivablesPortfolio1ExternalCustomersforAccountReceivablesAccountReceivablesPortfolio2ConsolidatedRelatedPartyCustomersforAccountReceivablesFortheaccountreceivablesdividedintoportfolios,theCompanyreferstothehistoryofcreditlossexperience,combinedwiththecurrentsituationandtheforecastofthefutureeconomicsituation,topreparetablesofagingofaccountreceivablesandcomparisontablesofexpectedcreditlossrateoftheentireduration,andtocalculatetheexpectedcreditlossForleasereceivables,long-termreceivablesformedbytheCompanythroughthesaleofgoodsortheprovisionofservices,theCompanychoosestoalwaysmeasureitslossprovisionsatanamountequaltotheexpectedcreditlossfortheentireduration.
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Forotherreceivables,ifthecreditriskhasnotsignificantlyincreasedsincetheinitialrecognition,itisinthefirststage.TheCompanyshallmeasurethelossprovisionaccordingtotheexpectedcreditlossinthenext12months.Ifthecreditriskhasincreasedsignificantlysincetheinitialrecognition,butthecreditimpairmenthasnotoccurred,itisinthesecondstage.Ifthecreditimpairmenthasoccurredsincetheinitialrecognition,itisinthethirdstage.TheCompanyshallmeasurethelossprovisionaccordingtotheexpectedcreditlossoftheinstrumentthroughoutitslife.
13.Receivablesfinancing
ConsistentwiththeAccountingStandardsforBusinessEnterprise
14.Otheraccountreceivable
MethodsofdeterminingforexpectedcreditlossesofotherreceivableandaccountingtreatmentMethodsofdeterminingforexpectedcreditlossesofotherreceivableandaccountingtreatmentTheCompanydividesotherreceivablesintoseveralportfoliosbasedonthecreditriskcharacteristics.Thebasisfordeterminingtheportfolioisasfollows:
PortfolioNameBasisOtherReceivablesPortfolio1Deposit,SecurityDepositandReserveReceivablesOtherReceivablesPortfolio2ReceivablesofAdvancePaymentforAnotherPartyOtherReceivablesPortfolio3UnifiedcollectionofadvancepaymentofotherreceivablesForotherreceivablesdividedintoportfolios,theCompanyreferstohistoricalexperienceincreditloss,combinedwiththecurrentsituationandforecastedfutureeconomicsituation,andbydefaultriskexposureandthecreditlossratewithinnext12monthsorthewholeduration,tocalculatetheexpectedcreditlosses.
15.Inventories
1.Classificationofinventories
Theinventoriesareclassifiedinto:rawmaterials,commoditystocks,low-valueconsumables,foodmaterials,fuels,etc.
2.Measurementofinventoriesdispatched
Thecommoditystocksareaccountedforbasedontheirsellingprices,andthedifferencebetweenthecommoditypurchasingpriceandthesellingpriceisadjustedmonthlybythecomprehensivespreadratemethod.Theinventorymaterialsaremeasuredatactualcostwhenpurchasedandwarehoused,andmeasuredusingthefirst-infirst-outmethodwhenappliedforuseanddispatched.Low-valueconsumablesareamortizedonaone-offbasis
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whenappliedforuse.
3.DeterminingbasisofthenetrealizablevalueofinventoriesandmethodforinventorydepreciationreserveAfterthecomprehensivecheckoftheinventoriesattheendoftheperiod,theinventorydepreciationreservesareprovidedoradjustedattheircostsornetrealizablevalues,whicheverarelower.Forinventoriesfordirectsale,includingcommoditystocksandmaterialsforsale,theirnetrealizablevaluesshallberecognizedattheestimatedsellingpricesminustheestimatedsellingexpensesandtherelevanttaxesandsurchargesinthenormaloperationprocess.Forinventoriesheldtoexecutesalescontractorservicecontract,theirnetrealizablevaluesarecalculatedonthebasisofcontractprice.IfthequantitiesheldbytheCompanyaremorethanthequantitiesorderedinsalescontracts,thenetrealizablevalueoftheexcessportionofinventoriesshallbebasedongeneralsellingprices.Theprovisionsforinventorydepreciationreservearemadeonanindividualbasisattheendoftheperiod;forinventorieswithlargequantitiesandrelativelylowunitprices,theprovisionsforinventorydepreciationreservearemadeonacategorybasis.Forinventoriesrelatedtotheproductportfoliosmanufacturedandsoldinthesamearea,andofwhichthefinalusageorpurposeisidenticalorsimilarthereto,andwhichisdifficulttoseparatefromotheritemsformeasurementpurposes,theprovisionsforinventorydepreciationreservearemadeonaportfoliobasis.Wherethepreviousfactorsaffectingthewritten-downofthevalueofinventoryhavedisappeared,theamountofwrite-downshallberesumedandbereversedfromtheoriginalprovisionforinventorydevaluationwiththereversalbeingincludedincurrentprofitandloss.
4.Inventorysystem
Perpetualinventorysystemisadopted.
5.Amortizationmethodforlow-costconsumablesandpackagingmaterials
(1)Low-costconsumablesareamortizedinalumpsum;
(2)Packagingmaterialsareamortizedinalumpsum.
16.Contractassets
ConsistentwiththeAccountingStandardsforBusinessEnterprise
17.Contractcosts
ConsistentwiththeAccountingStandardsforBusinessEnterprise
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18.Assetsheldforsale
TheCompanyclassifiesnon-currentassetsordisposalgroupsthatmeetthefollowingconditionsasholdingforsale:
(1)Subjecttothepracticeofsellingsuchassetsordisposalgroupsinsimilartransactions,thesalecanbeeffectedimmediatelyunderthecurrentcircumstances;
(2)Asaleishighlylikelytooccur,thatis,theCompanyhasmadeadecisiononasaleplanandobtainedafirmpurchasecommitment,andthesaleisexpectedtobecompletedwithinoneyear.Wheretherelevantprovisionsrequiretheapprovaloftherelevantauthorityorregulatoryauthorityofthecompanybeforethesale,theapprovalhasbeenobtained.
19.Investmentindebtobligations
ConsistentwiththeAccountingStandardsforBusinessEnterprise
20.Otherinvestmentindebtobligations
ConsistentwiththeAccountingStandardsforBusinessEnterprise
21.Long-termaccountreceivable
ConsistentwiththeAccountingStandardsforBusinessEnterprise
22.Long-termequityinvestment
JudgmentcriteriaforjointcontrolandsignificantinfluenceJointcontrolreferstothecontrolsharedoveranarrangementinaccordancewiththerelevantstipulations,andthedecision-makingofrelatedactivitiesofthearrangementshouldnotbemadebeforethepartysharingthecontrolrightagreesthesame.WheretheCompanyexercisesjointcontrolovertheinvesteetogetherwithotherpartiestothejointventureandenjoystherightontheinvestee'snetassets,theinvesteeisajointventureoftheCompany.Significantinfluencereferstothepowertoparticipateinmakingdecisionsonthefinancialandoperatingpoliciesofanenterprise,suchasappointingrepresentativetotheboardofdirectorsorsimilarorgansofauthorityoftheinvestee,butnotthepowertocontroltheinvestee,orjointlycontrol,theformulationofsuchpolicieswithotherparties.Whereaninvestingenterpriseisabletohavesignificantinfluencesonaninvestee,theinvesteeisitsassociate.Determinationofinitialinvestmentcost
(1)Long-termequityinvestmentsacquiredthroughbusinesscombinationBusinesscombinationundercommoncontrol:iftheCompanypaysaconsiderationtothecombineeincash,by
2020
transferringnon-cashassetsorbyassumingdebtsandissuingequitysecurities,theshareofbookvalueofitsowners'equityinthecombineeintheconsolidatedfinancialstatementsoftheultimatecontrollershallberecognized,onthecombinationdate,astheinitialcostofthelong-termequityinvestment.Iftheinvestedentityunderthesamecontrolcanbecontrolledduetoadditionalinvestmentandotherreasons,theinitialinvestmentcostoflong-termequityinvestmentshallbedeterminedaccordingtotheshareofthenetassetsofthemergedpartyinthecarryingvalueoftheconsolidatedfinancialstatementsoftheultimatecontrollingpartyafterthemerger.Thedifferencebetweentheinitialinvestmentcostofthelong-termequityinvestmentonthedateofthemergerandthesumofthebookvalueofthelong-termequityinvestmentbeforethemergertogetherwiththebookvalueofthefurtheracquisitionofthenewlypaidconsiderationofthesharesonthedateofthemergershallbeadjustedfortheequitypremium.Forlong-termequityinvestmentsacquiredfrombusinesscombinationsundercommoncontrol,theinvestmentinitialcostthereofshallberecognizedattheshareofbookvalueofthecombinee'snetassetsintheconsolidatedfinancialstatementsoftheultimatecontrolleronthecombinationdate.Thestockpremiumshouldbeadjustedatthedifferencebetweentheinitialinvestmentcostoflong-termequityinvestmentsonthecombinationdateandthesumofthebookvalueoflong-termequityinvestmentsbeforethecombinationandthebookvalueofconsiderationnewlypaidforadditionalshares;ifthereisnosufficientstockpremiumtobewrittendown,theretainedearningsareadjusted.Businesscombinationnotundercommoncontrol:theCompanyrecognizesthecombinationcostdeterminedonthecombinationdateastheinitialcostoflong-termequityinvestments.WheretheCompanycancontroltheinvesteenotundercommoncontrolfromadditionalinvestments,theinitialinvestmentcostshouldbechangedtobeaccountedforunderthecostmethodandrecognizedatthesumofthebookvalueofequityinvestmentsoriginallyheldandnewlyincreasedinvestmentcost.
(2)Long-termequityinvestmentsacquiredbyothermeans
Forlong-termequityinvestmentsacquiredfromcashpayment,theinitialinvestmentcostistheactuallypaidpurchasingcost.Forthelong-termequityinvestmentsacquiredthroughissuingtheequitysecurities,thefairvalueofequitysecuritiesissuedshallberecognizedastheinitialinvestmentcost.Onthepremisethatnon-monetaryassettradeisofcommercialnatureandthefairvalueoftheassettradedinoroutcanbemeasuredreliably,theinitialcostofalong-termequityinvestmenttradedinwithnon-monetaryassetshouldbedeterminedaccordingtothefairvalueoftheassettradedoutandrelevanttaxesandsurchargespayable,unlessanyunambiguousevidenceindicatesthatthefairvalueoftheassettradedinismorereliable;astothenon-monetaryassettradenotmeetingtheaforesaidpremise,thebookvalueoftheassettradedoutandrelevanttaxesandsurchargespayableshouldberecognizedastheinitialcostofthelong-termequityinvestment.Forthelong-termequityinvestmentobtainedthroughdebtrestructuring,itsrecordedvalueshallbedeterminedby
2020
thefairvalueoftheabandonedcreditor'srightsandthetaxesdirectlyattributabletotheassetsandothercosts,andthedifferencebetweenthefairvalueandbookvalueoftheabandonedcreditor'srightsshallberecordedintothecurrentprofitandloss.Subsequentmeasurementsandrecognitionofprofitorloss
(1)Long-termequityinvestmentsaccountedforundercostmethodLong-termequityinvestmentsoftheCompanyinitssubsidiariesareaccountedforbythecostmethod.Exceptfortheactualpricepaidforacquisitionofinvestmentorthecashdividendsorprofitscontainedintheconsiderationwhichhavebeendeclaredbutnotyetdistributed,theCompanyrecognizesthecurrentinvestmentincomebasedonthecashdividendsorprofitsenjoyedbytheCompanyanddeclaredtobedistributedbytheinvestee.
(2)Long-termequityinvestmentsaccountedforundertheequitymethodTheCompany'slong-termequityinvestmentsinitsassociatesandjointventuresarecalculatedundertheequitymethod.Ifthecostofinitialinvestmentisinexcessoftheproportionofthefairvalueofthenetidentifiableassetsintheinvesteewhentheinvestmentismade,thedifferencewillnotbeadjustedtotheinitialcostoflong-termequityinvestment;ifthecostofinitialinvestmentisinshortoftheproportionofthefairvalueofthenetidentifiableassetsintheinvesteewhentheinvestmentismade,thedifferencewillbeincludedinthecurrentprofitandloss.TheCompanyshall,inaccordancewithitsattributableshareofthenetprofitorlossandothercomprehensiveincomerealizedbytheinvestee,respectivelyrecognizetheinvestmentincomeandothercomprehensiveincomeandsimultaneouslyadjustthebookvalueofthelong-termequityinvestment.TheCompanyshall,inthelightoftheprofitsorcashdividendsthattheinvesteedeclarestodistribute,reducethebookvalueofthelong-termequityinvestmentcorrespondingly.Astoanychangeinowners'equityoftheinvesteeotherthannetprofitorloss,othercomprehensiveincomeandprofitdistribution,theCompanyshalladjustthebookvalueofthelong-termequityinvestmentandincludesuchchangeintotheowners'equity.Whenrecognizingtheattributableshareofnetprofitorlossoftheinvestee,theCompanyshall,basedonthefairvalueofidentifiablenetassetoftheinvesteewhenitobtainstheinvestment,recognizeitsattributableshareofthenetprofitorlossoftheinvesteeaftertheadjustmentaccordingtotheCompany'saccountingpolicyandaccountingperiod.Whenholdingtheinvestment,theinvesteeshouldpreparetheconsolidatedfinancialstatements,itshallaccountfortheinvestmentincomebasedonthenetprofit,othercomprehensiveincomeandthechangesinotherowner'sequityattributabletotheinvestee.TheCompanycalculatesitsattributableprofitorlossofinternaltransactionsthatarenotrealizedarisingamongitself,associatesandjointventuresbasedonitsattributablepercentageandoffsetit,anddeterminestheinvestmentincomeonthatbasis.UnrealizedinternaltransactionlossincurredbetweentheCompanyandtheinvesteeshallberecognizedinfullamountifsuchlossbelongstotheassetimpairment.Fortheassetinvestment
2020
orsaletransactionswithassociatedenterprisesorjointventures,accordingtothenotesregardingto“3.5Accountingtreatmentmethodsforbusinesscombinationsunderandnotundercommoncontrol”and“3.6Preparationmethodsofconsolidatedfinancialstatements”whichshouldbecarriedoutinaccordancewiththerelevantpoliciesiftheassetformsapartoftheCompany'sbusiness.WhentheCompanyconfirmsthatitshouldsharelossesoftheinvestee,treatmentshallbedoneinfollowingsequence:first,writingdownthebookvalueoflong-termequityinvestments.Secondly,ifthebookvalueofthelong-termequityinvestmentsisinsufficienttobeoffset,theCompanyshallcontinuetorecognizetheinvestmentlosstotheextentofthebookvalueoflong-terminterestswhichsubstantiallyformthenetinvestmentintheinvesteeandoffsetthebookvalueofthelong-termreceivableitemsandotheritems.Finally,afteralltheabovetreatments,iftheCompanyisstillresponsibleforanyadditionalliabilityinaccordancewiththeprovisionsstipulatedintheinvestmentcontractsoragreements,provisionsarerecognizedandincludedintocurrentinvestmentlossaccordingtotheobligationsestimatedtoundertake.Iftheinvesteeachievesprofitinsubsequentperiods,theCompanyshall,afterdeductinganyunrecognizedinvestmentlosses,reducebookvalueofestimatedliabilitiesrecognized,restorebookvaluesofotherlong-termequitywhichformnetinvestmentintheinvesteeinsubstance,andoflong-termequityinvestmentaccordingtothereversedsequencedescribedabove,andrecognizeinvestmentincomeatthesametime.
(3)Disposaloflong-termequityinvestments
Forthedisposaloflong-termequityinvestments,thedifferencebetweenthebookvalueandtheactualpricethereofshallbeincludedinthecurrentprofitorloss.Wherealong-termequityinvestmentisaccountedforundertheequitymethod,accountingtreatmentshouldbemadeonthepartwhichisoriginallyincludedinothercomprehensiveincomeaccordingtocorrespondingratiobyusingthesamebasisfortheinvesteetodirectlydisposeoftherelevantassetsorliabilitieswhentheinvestmentsaredisposedof.Owner'sequityrecognizedfromchangesinotherowner'sequityoftheinvesteeotherthannetprofitandloss,othercomprehensiveincomeandtheprofitdistributionshouldbeincludedinthecurrentprofitandlossaccordingtotheproportion.Incasethejointcontrolorsignificantinfluenceovertheinvesteeislostfordisposingpartofequityinvestmentsorotherreasons,theremainingequitywillbechangedtobeaccountedforaccordingtotherecognitionandmeasurementprinciplesoffinancialinstruments,whilethedifferencebetweenthefairvalueandthebookvalueonthedateofthelossofjointcontrolorsignificantinfluenceshouldbeincludedinthecurrentprofitorloss.Astoothercomprehensiveincomerecognizedbasedonmeasurementoftheoriginalequityinvestmentundertheequitymethod,accountingtreatmentshallbemadeonthesamebasisaswouldberequirediftheinvesteehaddirectlydisposedoftheassetsorliabilitiesrelatedtheretowhenmeasurementundertheequitymethodisterminated.Owner'sequityrecognizedfromtheinvestee'schangesinotherowner'sequityotherthannetprofitorloss,othercomprehensiveincomeandprofitdistributionshouldalltransferredtothecurrentprofitandlosswhentheequity
2020
methodisnolongeradopted.WheretheCompanylosesthecontrolovertheinvesteeduetodisposalofpartialequityinvestmentsorotherreasons,whenitpreparesseparatefinancialstatements,theremainingequityafterdisposalthatcanjointlycontrolorhavesignificantinfluenceontheinvesteewillbemeasuredattheequitymethod,andtheremainingequityshouldbedeemedtohavebeenadjustedatequitymethodonacquisition;Iftheremainingequityafterdisposalcannotexercisejointcontrolorsignificantinfluenceovertheinvestee,suchremainingequityshallbesubjecttotheaccountingtreatmentaccordingtotherecognitionandmeasurementstandardsoffinancialinstruments,andthedifferencebetweenitsfairvalueandbookvalueonthedatewhencontrollossesisincludedincurrentprofitorloss.Wheretheequitydisposedofareacquiredthroughbusinesscombinationasaresultofadditionalinvestmentandotherreasons,iftheremainingequitiesafterdisposalarecalculatedunderthecostmethodorequitymethoduponpreparationofseparatefinancialstatements,othercomprehensiveincomeandotherowners'equitiesrecognizedinequityinvestmentsheldbeforetheacquisitiondateasaresultofemploymentofequitymethodforaccountingshallbecarriedforwardprorata;iftheremainingequitiesafterdisposalarecalculatedaccordingtotheprovisionsonRecognitionandMeasurementofFinancialInstruments,othercomprehensiveincomeandotherowners'equitieswillallbecarriedforward.
23.Investmentproperties
MeasurementmodeMeasuredbycostmethodDepreciationoramortizationmethodMeasurementmodeMeasuredbycostmethodDepreciationoramortizationmethodTheinvestmentpropertiesrefertothepropertiesheldforearningrentalsor/andcapitalappreciation,includingleasedlanduseright,landuserightheldfortransferuponappreciation,andleasedbuilding(includingself-builtbuildingsorbuildingsdevelopedforrentingorbuildingsunderconstructionordevelopmentforfuturerenting).TheCompanymeasurestheexistinginvestmentpropertiesbyusingthecostmodel.Forinvestmentpropertymeasuredbyusingthecostmodel,thebuildingsforleaseshallbedepreciatedbyusingpoliciesthesameasusedforfixedassetsoftheCompany,andthelanduserightsforleaseshallbeamortizedbyusingthesamepoliciesasapplicabletointangibleassets.
24.Fixedassets
2020
(1)Recognitioncriteria
Fixedassetsrefertotangibleassetsheldforthepurposeofproducingcommodities,providingservices,rentingorbusinessmanagementwithusefullivesexceedingoneyear.Fixedassetsarerecognizedwhentheysimultaneouslymeetthefollowingconditions:
(1)ItisprobablethattheeconomicbenefitsrelatingtothefixedassetswillflowintotheCompany;and
(2)Thecostsofthefixedassetscanbemeasuredreliably.
(2)Depreciationmethodoffixedassets
AssettypeDepreciationmethodYearfordepreciationResidualvaluerate
Yearlydepreciation
rateBuildingsandconstructions
Straight-linemethod20-405%4.75%-2.37%Machineryequipment
Straight-linemethod8-205%11.87%-4.75%Electronicentertainmentequipment
Straight-linemethod5-165%19%-5.93%Transportationequipment
Straight-linemethod7-125%13.57%-7.91%OtherequipmentStraight-linemethod85%11.87
(3)Reorganizationbasis,valuationanddepreciationmethodforfinancialleaseassetsIfanyofthefollowingconditionsisstipulatedinthetermsoftheleaseagreementsignedbetweenthecompanyandthelessee,itshallberecognizedasthefinancingleasedassets:
1)Aftertheexpireoftheleaseterm,theownershipoftheleasedassetsshallbevestedinthecompany;
2)Thecompanyhasanoptiontopurchasetheasset,thepurchasepriceisfarlessthanthefairvalueoftheassetwhentheoptionisexercised;
3)Theleasingtermisthemajorityofthelifeoftheleasedasset;
4)Thepresentvalueoftheminimumleasepaymentonthebeginningoftheleasedoesnothavemanydifferencesfromthefairvalueoftheasset;Onthestartingdateofthelease,thecompanytakesthelowerbetweenthefairvalueoftheleasedassetandthepresentvalueoftheminimumleasepaymentasthebookvalueoftheleasedasset,andtheminimumleasepaymentasthebookvalueofthelong-termpayable,andthedifferencebetweenthefairvalueoftheleasedassetandthepresentvalueoftheminimumleasepaymentastheunrecognizedfinancingfee.
25.Constructioninprogress
Thebook-entryvaluesofthefixedassetsarestatedattotalexpendituresincurredbeforereachingworking
2020
conditionfortheirintendeduse.Whereaconstructioninprogressreachestheworkingconditionforitsintendedusebutthefinalaccountforcompletionisnotmadeyet,itshallbetransferredintofixedassetsfromthedatewhenitreachestheworkingconditionforintendeduseattheestimatedvalueaccordingtotheprojectbudget,constructionpriceoractualcost,andthedepreciationofthesaidfixedassetsshallbeaccruedaccordingtotheCompany'sdepreciationpoliciesapplicabletofixedassets.Afterthefinalaccountforcompletedprojectisdone,theCompanyadjuststheoriginalestimatedvalueofthefixedassetinaccordancewiththeactualcost,butdoesnotadjusttheprovisionforsuchdepreciationthathadbeenaccrued.
26.Borrowingcosts
1.Recognitionprinciplesofcapitalizationofborrowingcosts
Borrowingcostsincludeinterestthereon,amortizationofdiscountsorpremiums,ancillaryexpensesandexchangedifferencesincurredonaccountofforeigncurrencyborrowings,etc.TheborrowingcostsincurredtotheCompanyanddirectlyattributabletotheacquisitionandconstructionorproductionofassetseligibleforcapitalizationshouldbecapitalizedandrecordedintorelevantassetcosts;otherborrowingcostsshouldberecognizedascostsaccordingtotheamountincurredandbeincludedintocurrentprofitandloss.Assetsmeetingthecapitalizationrequirementsrefertofixedassets,investmentpropertiesandinventories,etc.thatneedtobepurchased,constructedorproducedforalongtimetobeavailableforintendeduseorsale.Borrowingcostsmaybecapitalizedonlywhenallthefollowingconditionsaremet:
(1)Assetdisbursements,whichincludethoseincurredbycashpayment,thetransferofnon-cashassetsortheundertakingofinterest-bearingdebtsforacquiringandconstructingorproducingassetseligibleforcapitalization,havealreadybeenincurred;
(2)Borrowingcostshavealreadybeenincurred;and
(3)Theacquisitionandconstructionorproductionactivitieswhicharenecessarytopreparetheassetsfortheirintendeduseorsalehavealreadybeenstarted.
2.Capitalizationperiodofborrowingcosts
Capitalizationperiodreferstotheperiodfromthebeginningofcapitalizationtotheceaseofcapitalization,excludingtheperiodofcapitalizationsuspensionofborrowingcosts.Capitalizationofborrowingcostsshouldceasewhentheacquiredandconstructedorproducedassetseligibleforcapitalizationhavereachedtheworkingconditionfortheirintendeduseorsale.Whensomeprojectsamongtheacquiredandconstructedorproducedassetseligibleforcapitalizationarecompletedandcanbeusedseparately,thecapitalizationofborrowingcostsofsuchassetsshouldbeceased.
2020
Whensomeprojectsamongtheacquiredandconstructedorproducedassetseligibleforcapitalizationarecompletedandcanbeusedseparately,thecapitalizationofborrowingcostsofsuchprojectsshouldbeceased.
3.Periodofcapitalizationsuspension
Iftheacquisition,constructionorproductionactivitiesofassetseligibleforcapitalizationareabnormallyinterruptedandsuchconditionlastsformorethanthreemonths,thecapitalizationofborrowingcostsshouldbesuspended;iftheinterruptionisnecessaryproceduresfortheacquired,constructedorproducedassetseligibleforcapitalizationtoreachtheworkingconditionsfortheirintendeduseorsale,theborrowingcostscontinuetobecapitalized.Borrowingcostsincurredduringtheinterruptionarerecognizedasthecurrentprofitorlossandcontinuetobecapitalizeduntiltheacquisition,constructionorproductionoftheassetsrestarts.
4.CalculationmethodofcapitalizationamountofborrowingcostsAsforspecialborrowingsforacquiring,constructingorproducingassetseligibleforcapitalization,borrowingcostsofspecialborrowingsactuallyincurredinthecurrentperiodlesstheinterestincomefromundrawnborrowingsdepositedinthebankorinvestmentincomefromtemporaryinvestmentshouldberecognizedasthecapitalizationamountofborrowingcosts.Asforgeneralborrowingsusedforacquiringandconstructingorproducingassetseligibleforcapitalization,theinterestofgeneralborrowingstobecapitalizedshouldbecalculatedbymultiplyingtheweightedaverageofassetdisbursementsofthepartofaccumulatedassetdisbursementsexceedingspecialborrowingsatendofeachmonthbythecapitalizationrateofusedgeneralborrowings.Thecapitalizationrateiscalculatedbyweightedaverageinterestrateofgeneralborrowings.
27.Biologicalassets
Nil
28.Oil-and-gasassets
Nil
29.Right-of-useassets
Nil
18.Intangibleassets
2020
(1)Valuationmethod,usefullivesandimpairment
1)TheCompanyinitiallymeasuresintangibleassetsatcostonacquisition:
Thecostsofexternallypurchasedintangibleassetsincludepurchaseprices,relevanttaxesandsurchargesandotherdirectlyattributableexpendituresincurredtopreparetheassetsfortheirintendeduses.Ifthepaymentforanintangibleassetisdelayedbeyondthenormalcreditconditionsanditisofthefinancingnature,thecostoftheintangibleassetshallbedeterminedonthebasisofthepresentvalueofthepurchaseprice.Theintangibleassetsacquiredwhichthedebtorusestopaybackthedebtindebtrestructuringshouldberecognizedatthefairvalueoftheintangibleassets.Thedifferencebetweenthebookvalueofrestructureddebtsandthefairvalueofintangibleassetsusedtopaybackthedebtshouldbeincludedinthecurrentprofitorloss;Whentheexchangeofnon-monetaryassetsisofcommercialnatureandthefairvalueoftheassetsreceivedorsurrenderedassetscanbemeasuredreliably,themeasurementshallbebasedonthefairvalue.Ifthefairvalueoftheassetsreceivedorsurrenderedassetscanbemeasuredreliably,thefairvalueofthesurrenderedassetsandrelevanttaxesshouldbepaidastheinitialinvestmentcostoftheintangibleassetsreceived,unlessthereisconclusiveevidencethatthefairvalueoftheassetreceivedismorereliable.Iftheexchangeofnon-monetaryassetsdoesnothavecommercialsubstance,orthefairvalueoftheassetsreceivedorsurrenderedassetscannotbemeasuredreliably,thebookvalueofthesurrenderedassetsandrelatedtaxesshouldbepaidastheinitialinvestmentcostoftheintangibleassetsreceived.
2)Subsequentmeasurement
Theusefullivesoftheintangibleassetsareanalyzedanddeterminedonacquisition.Intangibleassetswithdefiniteusefullivesshallbeamortizedwiththestraight-linemethodwithintheperiodwhentheintangibleassetsgenerateeconomicbenefitsfortheCompany;ifthesaidperiodcannotbeforecast,theintangibleassetsshallbedeemedasthosewithindefiniteusefullivesandshallnotbeamortized.
3)EstimateoftheusefullifeoftheintangibleassetswithdefiniteusefullivesItemEstimatedusefullifeAmortizationmethodBasisLanduseright50yearsStraight-lineamortizationmethodUsefullifeprescribedintheCertificateofLandUseRight
(2)AccountingpolicyofinternalR&Dexpenditures
31.Long-termassetsimpairment
Forthelong-termequityinvestments,investmentproperties,fixedassets,constructioninprogress,intangibleassets,andotherlong-termassetsmeasuredatcostmodel,iftherearesignsofimpairment,animpairmenttestwillbeconductedonthebalancesheetdate.Iftheresultoftheimpairmenttestshowsthattherecoverableamountof
2020
theassetislowerthanitsbookvalue,theprovisionforimpairmentshallbemadeandincludedinimpairmentloss.Therecoverableamountisdeterminedatthehigherofthenetofthefairvaluelessdisposalcostsandthepresentvalueoftheexpectedfuturecashflows.Provisionforassetsimpairmentismadeonindividualassetbasis.Ifitisdifficulttoestimatetherecoverableamountoftheindividualasset,theGroupshallestimatetherecoverableamountoftheassetgroupthattheindividualassetbelongsto.Theassetgroupistheminimumassetgroupthatcanindependentlygeneratethecashinflow.Goodwill,intangibleassetswithuncertainusefullifeandintangibleassetsthathavenotyetreachedtheusablestateshallbetestedforimpairmentatleastattheendofeachyear.TheCompanyconductsthegoodwillimpairmenttest,andthecarryingvalueofthegoodwillformedbytheenterprisemergershallbeallocatedtotherelevantassetgroupinareasonablewayfromthepurchasedate.Ifitisdifficulttoapportiontotherelevantassetgroup,apportiontotherelevantassetgroupportfolio.WhentheCompanyallocatesthebookvalueofgoodwill,itallocatesthegoodwillaccordingtotherelativebenefitsthattherelevantassetgrouporassetgroupportfoliocanobtainfromthesynergeticeffectoftheenterprisemerger,andcarriesoutthegoodwillimpairmenttestonthisbasis.Goodwillintherelevantassetgroupsorcombinationofgroupassetsimpairmenttests,suchastheassetgrouporcombinationofgroupassetsrelatedtogoodwilltherearesignsofimpairment,thefirstdoesnotincludethegoodwilloftheassetgrouporcombinationofgroupassetsimpairmenttest,calculationofrecoverableamount,andcomparedwiththerelatedbookvalue,confirmthecorrespondingimpairmentloss.Goodwilltotheassetgrouporcombinationofgroupassetsforimpairmenttest,comparethebookvalueoftherelevantassetgroupsorcombinationofgroupassets(includingthecontributionofthebookvalueofthegoodwill)withitsrecoverableamount,suchastherelevantassetgroupsorcombinationofgroupassetsrecoverableamountislowerthanitsbookvalue,confirmthegoodwillimpairmentloss.Theaboveassetimpairmentlossshallnotbereversedinsubsequentaccountingperiodsoncerecognized.
32.Long-termdeferredexpenses
Long-termdeferredexpensesrefertovariousexpenseswhichhavebeenalreadyincurredbutwillbeborneinthereportingperiodandinthefuturewithanamortizationperiodofoveroneyear.
1.Amortizationmethod
Long-termdeferredexpensesareamortizedevenlyoverthebeneficialperiod.
2.Amortizationyears
ItemAmortizationyearsHotelexteriordecoration4years
2020
Firestairsrenovation4yearsRenovationofguestroomsinBuildingC,DecorationandrenovationofBuildingA5yearsVillarenovation5yearsSwimmingpoolrenovation,Pavementmodificationprojects5yearsRoofwaterproofingprojects5years
33.Contractliabilities
Nil
34.Employeecompensation
(1)Accountingmethodforshort-termcompensation
DuringtheaccountingperiodwhenemployeesservetheCompany,theactualshort-termcompensationisrecognizedasliabilitiesandincludedincurrentprofitandlossorcostsassociatedwithassets.TheappropriateamountofemployeecompensationpayablewillbedeterminedduringtheaccountingperiodwhentheemployeesprovideservicesfortheCompanybasedonthemedicalinsurance,workinjuryinsuranceandmaternityinsuranceandothersocialinsuranceandhousingfundpaidbytheCompanyforemployees,aswellastradeunionfundsandemployeeeducationfundswithdrawnaccordingtoprovisionsattheaccrualbasisandaccrualratio.Theemployeebenefitsinthenon-monetaryformshallbemeasuredatfairvalue.
(2)Accountingmethodfordismissalwelfare
1)Definedcontributionplans
TheCompanyshallpaythebasicendowmentinsuranceandunemploymentinsurancefortheemployeesaccordingtotherelevantprovisionsofthelocalgovernment.DuringtheaccountingperiodwhentheemployeesprovideservicesfortheCompany,theamountofpaymentshallbecalculatedaccordingtothepaymentbaseandproportionstipulatedbythelocalgovernment,whichshallberecognizedasliabilitiesandrecordedintothecurrentprofitandlossorthecostofrelatedassets.Inadditiontothebasicendowmentinsurance,theCompanyhasalsoestablishedtheenterpriseannuitypaymentsystem(supplementaryendowmentinsurance)/enterpriseannuityplanaccordingtotherelevantpoliciesofthenationalenterpriseannuitysystem.TheCompanyshallpaythefeetothelocalsocialinsuranceinstitution/annuity
2020
planaccordingtoacertainproportionoftheemployee'stotalsalary,andthecorrespondingexpensesshallbeincludedinthecurrentprofitandlossorrelatedassetcost.
2)Definedbenefitplans
Accordingtotheformuladeterminedbythelawofexpectedaccumulativewelfareunits,thecompanywillattributethewelfareobligationsgeneratedbytheestablishedbenefitplantotheperiodduringwhichtheemployeeprovidesservices,andrecordthemintothecurrentprofitandlossorthecostofrelatedassets.Thedeficitorsurplusresultingfromthepresentvalueofthedefinedbenefitplanobligationsminusthefairvalueofthedefinedbenefitplanassetsisrecognizedasthenetliabilityornetassetofadefinedbenefitplan.Ifthereisasurplusinthedefinedbenefitplan,thecompanyshallmeasurethenetassetsofthedefinedbenefitplanbythelowerofthesurplusandtheassetceiling.Alldefinedbenefitplanobligations,includingthoseexpectedtobepaidwithin12monthsoftheendoftheemployee'sannualreportingperiodfortheprovisionofservices,arediscountedbythemarketrateofreturnonTreasurybondsorhigh-qualitycorporatebondsintheactivemarketthatmatchesthedurationandcurrencyofthedefinedbenefitplanobligationsonthebalancesheetdate.Theservicecostsincurredbythedefinedbenefitplanandthenetinterestonthenetliabilitiesornetassetsofthedefinedbenefitplanarerecordedinthecurrentprofitsandlossesorthecostsofrelatedassets.Thechangescausedbythenetliabilitiesornetassetsofthedefinedbenefitplanshallbeaccountedforinothercomprehensiveincome,andshallnotbetransferredbacktotheprofitsandlossesinthesubsequentaccountingperiod.Upontheterminationoftheoriginaldefinedbenefitplan,allthepartspreviouslyaccountedforinothercomprehensiveincomeshallbecarriedforwardtotheundistributedprofitwithinthescopeofequity.Whenestablishingthesettlementofthebenefitplan,thedifferencebetweenthepresentvalueoftheobligationoftheestablishedbenefitplanandthesettlementpricedeterminedonthesettlementdateshallbeusedtoconfirmthesettlementgainsorlosses.
(3)Accountingmethodforpost-employmentbenefits
TheCompanypaysthebasicendowmentinsurancepremiumsandunemploymentinsuranceforemployeesaccordingtotherelevantprovisionsofthelocalgovernments.DuringtheaccountingperiodwhenemployeesservetheCompany,thepaidamountwhichiscalculatedbasedonthepaymentbaseandproportionasstipulatedintheprovisionsofthelocalplaceisrecognizedasliabilitiesandincludedinthecurrentprofitorlossorassets-relatedassetscost.
2020
(4)Accountingmethodforotherlong-termemployeewelfare
35.Leaseliability
Nil
36.Estimatedliabilities
WhentheCompanyinvolvesinproceedings,debtguarantees,onerouscontractsandreorganizationevents,ifsucheventsmayrequiredeliveryofassetsorrenderingofservicesinthefutureandtheamountsofsucheventscanbereliablymeasured,sucheventsarerecognizedasestimatedliabilities.
(1)Recognitioncriteriaofestimatedliabilities
Whenanobligationrelatingtoacontingencymeetsallthefollowingconditionsatthesametime,itisrecognizedasanestimatedliability:
1)SuchobligationisapresentobligationoftheCompany;
2)TheperformanceofthisobligationmayveryprobablyleadtotheflowofeconomicinterestsoutoftheCompany;and
3)Theamountoftheobligationcanbemeasuredreliably.
(2)Measurementmethodofestimatedliabilities
EstimatedliabilitiesoftheCompanyareinitiallymeasuredasthebestestimateofexpensesrequiredfortheperformanceoftherelevantpresentobligations.Whendeterminingthebestestimates,theCompanycomprehensivelyconsiderstherisks,uncertainties,timevalueofmoney,andotherfactorsrelatingtothecontingencies.Ifthetimevalueofmoneyissignificant,thebestestimateswillbedeterminedafterdiscountofrelevantfuturecashoutflows.Thebestestimatesshallbetreatedasfollowsindifferentcircumstances:
Ifthereiscontinuousrange(orinterval)forthenecessaryexpenses,andprobabilitiesofoccurrenceofalltheoutcomeswithinthisrangeareequal,thebestestimateshouldbedeterminedattheaverageamountofupperandlowerlimitswithintherange.Ifthereisnocontinuousrange(orinterval)forthenecessaryexpenses,orprobabilitiesofoccurrenceofalltheoutcomeswithinthisrangeareunequalalthoughsucharangeexists,incasethatthecontingencyinvolvesasingleitem,thebestestimateshallbedeterminedatthemostlikelyoutcome;ifthecontingencyinvolvestwoormoreitems,thebestestimatesshouldbedeterminedaccordingtoallthepossibleoutcomeswiththeirrelevantprobabilities.
2020
WhenallorpartoftheexpensesnecessaryforthesettlementofestimatedliabilitiesoftheCompanyareexpectedtobecompensatedbyathirdparty,thecompensationshallbeseparatelyrecognizedasanassetonlywhenitisvirtuallycertaintobereceived.Thecompensationrecognizedshallnotexceedthebookvalueoftheestimatedliabilities.
37.Share-basedpayment
Nil
38.Otherfinancialinstrumentaspreferredstockandperpetualbondetc.Nil
39.Revenue
Accountingpoliciesusedforrevenuerecognitionandmeasurement
(1)Recognitionandmeasurementprinciplesforrevenuefromsaleofgoods
1)RevenuefromsalesofgoodsisrecognizedwhentheCompanyhastransferredtothebuyerthesignificantrisksandrewardsofownershipofthegoods.
2)TheCompanyretainsneithercontinuousmanagementrightsassociatedwithownershipofthegoodssoldnoreffectivecontroloverthegoodssold.
3)Therelevantamountofincomecanbemeasuredreliably.
4)ItishighlylikelythattheeconomicbenefitsassociatedwiththetransactionwillflowintotheCompany.
5)Andtherelevantamountofcostincurredortobeincurredcanbemeasuredreliably.
(2)RecognitioncriteriaofrevenuefromsaleofgoodsoftheCompanyandspecificjudgmentcriteriaofrecognitiontimeIntheprovisionofhotelhousingservicesatthesametime,theCompanyprovidesgoodstocustomersandwillpreparedailysaleslistafterconfirmingwiththeRoomsDepartmentandthehotelfrontdesk.Basedonthesaleslist,thefinancedepartmentconfirmsthatthemajorrisksandrewardsofownershipofthegoodshavebeentransferredtothecustomerandthenthesalesrevenueisrecognized.
(3)Recognitionandmeasurementprinciplesofrevenuefromrenderingofservice
1)Forthehotelrooms,catering(breakfast)andotherservicestobeprovidedbytheCompany,aftertheyareprovided,andtheCompanycheckswiththesalesdepartmentandthefrontcheck,theCompanywillpreparethedailysalesreportsandaccountsreceivablelisttothefinancedepartment,whichwillreviewthesame,afterwhich,therevenuewillberecognized.
2)Fortherevenuefromrestaurantsandvenuescontractedout,theywillberecognizedinaccordancewiththe
2020
periodstipulatedinthecontractoragreementandthecollectiontiming.
(4)RecognitionofrevenuefromtransferringuserightofassetsWhentheeconomicbenefitsrelatingtothetransactionsispossibletoflowintotheCompanyandtheamountofrevenuecanbemeasuredreliably,revenuesshouldberecognized.Revenuesfromtransferofrighttouseassetsarerecognizedunderthefollowingcircumstances:
1)Interestincomeisdeterminedbasedonthetimewhenthemonetaryfundsarelentandtheeffectiverate.
2)Theamountofrevenuesfromusageisdeterminedbasedonthechargingtimeandmethodasagreedinrelevantcontractoragreement.Differencesinrevenuerecognitionaccountingpoliciescausedbydifferentbusinessmodelsofsimilarbusinesses
40.Governmentgrants
(1)Type
Governmentgrantsrefertothemonetaryornon-monetaryassetsobtainedbytheCompanyfromthegovernmentforfree.Governmentgrantsaredividedintoasset-relatedgovernmentgrantsandincome-relatedgovernmentgrants.Asset-relatedgovernmentgrantsrefertogovernmentgrantsobtainedbytheCompanyforforminglong-termassetsbyacquisition,constructionorothermanners.Income-relatedgovernmentgrantsrefertogovernmentgrantsexcludingtheasset-relatedgovernmentgrants.
(2)Recognitiontimeandmeasurement
Governmentgrantscanberecognizedwhensimultaneouslymeetingthefollowingconditions:
1)Theenterprisecanmeetconditionsattachedtogovernmentgrants;and
2)Theenterprisecanreceivegovernmentgrants.
Ifagovernmentgrantisamonetaryasset,itshallbemeasuredattheamountreceivedorreceivable.Governmentgrantsshallbemeasuredatreceivableswhenthereisstrongevidenceattheendoftheperiodthatsuchgrantscomplywiththerelevantconditionsprescribedbythefinancialsupportpoliciesandthefinancialsupportfundsareexpectedtobereceived.Otherfinancialgrantsshallbeconfirmedaccordingtotheamountofmoneyreceived.Ifgovernmentgrantsarenon-monetaryassets,theyshallbemeasuredatitsfairvalue;andifthefairvaluecannotbeobtainedinareliableway,theyshallbemeasuredatanominalamount.
(3)Accountingtreatment
Asset-relatedgovernmentgrantsshallbeusedtooffsetthebookvalueofrelevantassetsorrecognizedasdeferredincome.Ifasset-relatedgovernmentgrantsarerecognizedasdeferredincome,theyshallbeincludedinprofitorlossbystagesbyareasonableandsystematicmethodwithintheusefullivesofrelevantassets.(Anygovernmentgrantrelatedtothedailyactivitiesofanenterpriseshallbeincludedintootherincomeinaccordancewiththe
2020
businessnature.Governmentgrantsunrelatedtothedailyactivitiesofenterprisesshallberecordedasnon-operatingrevenuesandexpenditures.)Forgovernmentgrantsassociatedwithincomethatareusedtorecoverrelevantcostsorlossesoftheenterpriseinsubsequentperiodarerecognizedasdeferredincomeandincludedinthecurrentprofitorlosswhenrelevantcostsorlossesarerecognized.(Anygovernmentgrantrelatedtothedailyactivitiesofanenterpriseshallbeincludedintootherincomeinaccordancewiththebusinessnature.Governmentgrantsunrelatedtothedailyactivitiesofenterprisesshallberecordedasnon-operatingrevenuesandexpenditures.)Ifgovernmentgrantsrelatedtoincomeareusedtocompensatetherelevantcostsandlossesthathaveoccurred,suchgovernmentgrantsshouldbedirectlyincludedinthecurrentprofitorloss.(Anygovernmentgrantrelatedtothedailyactivitiesofanenterpriseshallbeincludedintootherincomeinaccordancewiththebusinessnature.Governmentgrantsunrelatedtothedailyactivitiesofenterprisesshallberecordedasnon-operatingrevenuesandexpenditures.)ThediscountinterestofpreferentialpolicyloansobtainedbytheCompanyshallbedividedintothefollowingtwocasesforaccountingtreatment:
1)Ifthefinancedepartmentallocatesthediscountinterestfundtothelendingbank,andthelendingbankprovidestheloantotheCompanyatthepreferentialpolicyinterestrate,theCompanyshalltaketheactualamountoftheloanreceivedasthebookvalueoftheloan,andcalculatetherelevantborrowingcostsaccordingtotheloanprincipalandthepreferentialpolicyinterestrate.
2)IfthefinancedepartmentdirectlyallocatesthediscountinterestfundstotheCompany,theCompanyshalldeductthecorrespondingdiscountinterestfromtherelevantborrowingcosts.
41.Deferredtaxassetsanddeferredtaxliabilities
Deferredtaxassetsarerecognizedfordeductibletemporarydifferencestotheextentthatitshallnotexceedthetaxableincomeprobablyobtainedinfutureperiodthatcanbeusedfordeductingthedeductibletemporarydifferences.Taxabletemporarydifferencesarerecognizedasdeferredtaxliabilitiesinadditiontospecialcircumstances.Specialcircumstancesinwhichdeferredincometaxassetsordeferredincometaxliabilitiesshallnotberecognizedinclude:theinitialrecognitionofgoodwill;othertransactionsormattersexcludingbusinesscombinations,whichaffectneitheraccountingprofitsnorthetaxableincome(ordeductiblelosses)whenoccurred.WhentheCompanyhasthestatutoryrighttodosettlementwiththenetamounts,andhastheintentiontodosoortherecoveryofassetsandthesettlementofliabilitiesareachievedsimultaneously,theCompanyshallpresentits
2020
currentincometaxassetsandcurrentincometaxliabilitiesatthenetamountsastheresultofoneoffsettinganother.WhentheCompanyhasthelegalrightstobalanceincometaxassetsandincometaxliabilitiesforthecurrentperiodwithnetsettlement,anddeferredincometaxassetsanddeferredincometaxliabilitiesarerelatedtotheincometaxwhichareimposedonthesametaxpayingsubjectbythesametaxcollectionauthorityorondifferenttaxpayingsubjects,but,ineachimportantfutureperiodinconnectionwiththereverseofdeferredincometaxassetsandliabilities,theinvolvedtaxpayingsubjectintendstobalanceincometaxassetsandliabilitiesforthecurrentperiodwithnetsettlementatthetimeofobtainingassetsanddischargingliabilities,deferredincometaxassetsanddeferredincometaxliabilitiesshallbepresentedbasedonthenetamountafteroffset.
42.Lease
(1)Accountingtreatmentofoperatinglease
1)TherentalfeespaidfortheassetleasedbytheCompanywillbeamortizedovertheentireleasetermwithoutdeductingrent-freeperiodaccordingtothestraight-linemethodandincludedintheexpensesforthecurrentperiod.TheinitialdirectcostsrelatedtotheleasetransactionspaidbytheCompanyareincludedinthecurrentexpenses.WhenassetslessorbearscostsrelatedtotheleasebornebytheCompany,theCompanyshalldeductthepartofexpensesfromthetotalrentsandamortizetherentsafterdeductionovertheleasetermandincludethemincurrentexpenses.
2)LeasefeesreceivedbytheCompanyfromleasingassetsshallbeamortizedatstraight-linemethodoverthewholeleaseperiodincludingrent-freeperiod,andshallberecognizedasleaseincome.InitialdirectcostsrelatingtoleasetransactionsincurredbytheCompanyshallberecognizedasthecurrentexpenses;iftheamountsaresignificant,theyshallbecapitalizedandincludedinthecurrentincomeonthesamebasisastherecognitionofleaseincome.WhentheCompanybearscostsrelatedtotheleasebornebytheleasee,theCompanyshalldeductthepartofexpensesfromthetotalrentsandamortizetherentsafterdeductionovertheleaseterm.
(2)Accountingtreatmentoffinancelease
1)Financialleasedassets:onthestartdateofleasing,theCompanytakesthelowerofthefairvalueoftheleasedassetsandthepresentvalueoftheminimumleasepaymentasthebookvalueoftheleasedassets,takestheminimumleasepaymentasthebookvalueofthelong-termpayable,andthedifferenceastheunrecognizedfinancingexpenses.TheCompanyadoptstheeffectiveinterestratemethodtoamortizetheunrecognizedfinancingexpensesduringtheleaseperiodandrecordthemintofinancialexpenses.TheinitialdirectexpensesincurredbytheCompanyshallbeincludedinthevalueoftheleasedassets.
2020
2)Financialleasingassets:theCompanyshall,atthebeginningofthelease,recognizethedifferencebetweenthesumofthereceivablefinancialleasingpayments,theunsecuredresidualvalueanditspresentvalueasunrealizedfinancingincome,whichshallberecognizedasleaseincomewithintheperiodofreceivingtherentinthefuture.Theinitialdirectexpensesincurredbythecompanyinconnectionwiththeleasetransactionshallbeincludedintheinitialmeasurementofthefinanceleasereceivableandshallreducetheamountofincomerecognizedduringtheleaseterm.
43.OthersignificantaccountingpoliciesandaccountingestimatesTerminationofbusinessisaseparatelyidentifiablecomponentthatmeetsoneofthefollowingconditionsandhasbeendisposedofbytheCompanyorplacedbytheCompanyasaholdingforsale:
(1)Thecomponentrepresentsaseparateprincipalbusinessoraseparateprincipalareaofbusiness.
(2)Thecomponentispartofarelatedplantodisposeofaseparateprincipalbusinessoraseparateprincipalareaofbusiness.
(3)Thecomponentisasubsidiaryacquiredexclusivelyforresale.
44.Changesinsignificantaccountingpoliciesandaccountingestimates
(1)Changesinaccountingpolicies
□Applicable√Notapplicable
(2)Changesinaccountingestimates
□Applicable√Notapplicable
(3)Adjustmentonrelevantitemsofthestatementatbeginningoftheyearwheninitiallyimplementedthenewrevenuestandardandnewleasestandardsince2020
(3)Thefirstimplementationofthenewrevenuestandardandtheadjustmentofthenewleasestandardfrom2020onthefirstimplementationofthefinancialstatementrelateditemsatthebeginningoftheyearNotapplicable
(4)Explanationoftheretroactiveadjustmentonpreliminarycomparativedatawhenimplementedthenewrevenuestandardandnewleasestandardinitiallysince2020
□Applicable√Notapplicable
2020
45.Other
VI.Taxation
1.MajortaxtypesandtaxratesapplicabletotheCompanyTaxesBasisfortaxassessmentTaxrateValueaddedtax(VAT)
OutputVATiscalculatedbasedontaxablesalesrevenueandservicerevenuecalculatedinaccordancewithtaxlawsandVATpayableortaxablesalesrevenueshallbethedifferenceafterdeductingtheinputVATdeductibleinthesameperiod
5%6%10%9%16%13%Consumptiontax7%Urbanmaintenanceandconstructiontax
LeviedbasedonVATpayable
25%20%EnterpriseincometaxLeviedbasedonthetaxableincome
25%20%EducationsurtaxLeviedbasedonVATpayable
3%LocaleducationsurtaxLeviedbasedonVATpayable
2%Housingpropertytax
Remainingvalueafterdeducting30%fromtheoriginalvalueofthehouse(includingtheoccupiedlandprice),andrentrevenue
1.2%or12%
LandusetaxLandarea
18yuan/m
Disclosereasonsfordifferenttaxpayingbody:Nil
2.Taxpreference:nil
3.Other:nil
VII.Notestothemainitemsofthefinancialstatements
1.Monetaryfunds
InRMB/CNYItem
EndingbalanceBeginningbalanceCashonhand
149,010.82302,077.12Bankdeposits
17,683,622.397,120,862.77Total
17,832,633.217,422,939.89Otherexplanation:nil
2020
2.Tradingsecurities:nil
3.Derivativefinancialassets:nil
4.Notereceivable:nil
5.Accountsreceivable
(1)Disclosureofaccountreceivablesbycategory
InRMB/CNYCategory
EndingbalanceBeginningbalanceBookbalance
Provisionforbaddebt
Bookvalue
Bookbalance
Provisionforbaddebt
BookvalueAmoun
tProport
ion
Amount
Provisionratio
Amount
Proport
ion
Amoun
t
Provision
ratioIncluding:
Accountsreceivablewithprovisionforbaddebtsbasedonportfolios
204,91
9.84
100.00
%
109,76
5.83
53.57%
95,15
4.01
420,8
49.75
100.00
%
109,76
5.83
26.08%
311,08
3.92
Including:
Total
204,91
9.84
100.00
%
109,76
5.83
53.57%
95,15
4.01
420,8
49.75
100.00
%
109,76
5.83
26.08%
311,08
3.92
Provisionforbaddebtsbasedonsingleitem:nilProvisionforbaddebtbasedonportfolios:nilAdescriptionofthebasisfordeterminingtheportfolio:nilIfthebaddebtprovisionofanaccountreceivableiswithdrawnaccordingtothegeneralmodelofexpectedcreditloss,pleaserefertothedisclosuremethodofotherreceivablestodisclosetherelevantinformationofbaddebtprovision:
□Applicable√Notapplicable
Releasedbyaccountage
InRMB/CNYAccountageBookbalanceWithin1year(inclusive)111,851.841-2years2,259.002-3years566.00Over3years90,243.003-4years785.00
2020
4-5years18,633.00
Over5years70,825.00Total204,919.84
(2)Provision,reversalorrecoveryofprovisionforbaddebtsintheperiod:nil
(3)Accountreceivableactuallychargeoffintheperiod:nil
(4)Topfiveaccountsreceivableintermsofendingbalancecollectedbythedebtor
InRMB/CNYNameofentity
Endingbalanceofaccountreceivable
Proportioninthetotalaccountsreceivableatperiod-end
Endingbalanceofthe
baddebtprovisionShanghaiHechengInternationalTravelServiceCo.,Ltd.
63,857.6631.16%3,558.30GuangzhouDesignInstitute38,980.0019.02%38,980.00TianjinWatermelonTourismLimitedLiabilityCompany
22,516.6210.99%3,566.61YangpuHuayuRoad&BridgeTechnologyCo.,Ltd.
18,633.009.09%9,316.50ChinaInternationalTravelService(Beijing)
13,540.206.61%13,540.00Total157,527.4876.87%
(5)Accountreceivablethatareterminatedduetofinancialassetstransfer:nil
(6)Assetsandliabilitiesresultedbyaccountreceivabletransferandcontinuesinvolvement:nil
6.Receivablefinancing:nil
Variationandfairvaluechangesonreceivablefinancingintheperiod:
□Applicable√Notapplicable
Iftheprovisionforimpairmentofreceivablefinancingiswithdrawnaccordingtothegeneralmodelofexpectedcreditloss,pleaserefertothedisclosuremethodofotherreceivablestodisclosetherelevantinformationofimpairmentprovision:
□Applicable√Notapplicable
Otherdescription:nil
2020
7.Advancepayment:nil
(1)Disclosureofadvancepaymentbyaccountage:nil
(2)Topfiveadvancespaymentintermsoftheendingbalancecollectedbytheprepaidobject:nil
8.Otherreceivable
InRMB/CNYItemEndingbalanceBeginningbalanceOtherreceivable385,492.93571,744.52Total385,492.93571,744.52
(1)Interestreceivable:Nil
(2)Dividendreceivable:Nil
(3)Otheraccountreceivables
1)Otheraccountreceivabledisclosedbynature
InRMB/CNYNatureEndingbookbalanceOpeningbookbalanceUtilitybills130,643.9976,534.42Pettycash169,993.97394,313.63Socialinsuranceandhousingprovidentfunds45,784.7961,826.29Deposit600.00600.00Litigationfee68,562.0068,562.00Total415,584.75601,836.34
2)Provisionforbaddebt:
InRMB/CNYProvisionforbaddebt
FirststageSecondstageThirdstage
TotalExpectedcreditloss
innext12months
Expectedcreditlossforthewholeduration(no
creditimpairment)
Expectedcreditlossforthe
wholeduration(creditimpairmenthasoccurred)Balanceasat1Jan.202030,091.8230,091.82BalanceasatJanuary1.2020incurrentperiod
————————
2020
Balanceasat30June202030,091.8230,091.82Changeofthebookbalanceformajoramountchangedinlossprovision
□Applicable√Notapplicable
Releasedbyaccountage
InRMB/CNYAccountageBookbalance
Within1year(inclusive)413,348.75Over3years2,236.00Over5years2,236.00Total415,584.75
3)Provision,reversalorrecoveryofprovisionforbaddebtsintheperiodProvisionforbaddebtintheperiod
InRMB/CNYCategory
Beginningbalance
Amountchangedintheperiod
EndingbalanceAccrual
Reversalorswitch-back
Write-offOtherOtherreceivables
30,091.8230,091.82Total
30,091.8230,091.82Includingmajoramountreversalorswitch-backintheperiod:nil
4)Otherreceivablesactuallychargeoffintheperiod:nil
5)Topfiveotheraccountsreceivableintermsofendingbalancecollectedbythedebtor
InRMB/CNYNameofentityNature
Endingbalance
Accountage
Proportionintotalamountofotheraccountsreceivableatperiod-end
Endingbalanceof
thebaddebt
provisionBrightmoonpavilionmusicrestaurant
Utilitybills87,323.92
Within1year
21.01%3,356.74
Sanyasuburbanpeople'scourt
Litigationfee
68,562.00
Within1year
16.50%3,428.10
Personalsocialinsurancepremium
Advancepayment
45,784.79
Within1year
11.02%2,468.92
GuoYuboPettycash38,300.26Within1
9.22%4,718.33
2020
yearChenGangPettycash34,340.20
Within1
year
8.26%3,949.84
Total--274,311.17--66.01%17,921.93
6)Accountreceivablesrelatedtogovernmentsubsidies:nil
7)Otherreceivableforterminationofconfirmationduetothetransferoffinancialassets:nil
8)Theamountofassetsandliabilitiesthataretransferredotherreceivableandcontinuedtobeinvolved:nil
9.Inventories
WhetherthenewrevenuestandardsbeenimplementedNo(1)Classificationofinventories
InRMB/CNY
Item
EndingbalanceBeginningbalance
Bookbalance
Provisionfor
inventorydepreciationor
provisionforimpairmentof
contractperformancecosts
BookvalueBookbalance
Provisionfor
inventorydepreciationor
provisionforimpairmentof
contractperformancecosts
Bookvalue
Rawmaterials529,861.78310,465.94219,395.84843,199.89615,322.99227,876.90Commoditystocks22,771.3811,102.4111,668.9722,771.3811,102.4111,668.97Fuel26,396.2026,396.2014,711.3214,711.32Total579,029.36321,568.35257,461.01880,682.59626,425.40254,257.19
(2)Provisionforinventorydepreciationorprovisionforimpairmentofcontractperformancecosts
InRMB/CNYItem
Beginningbalance
CurrentincreaseCurrentdecrease
EndingbalanceAccrualOther
Reversalorwrite-off
OtherRawmaterials615,322.99304,857.05310,465.94Commoditystocks11,102.4111,102.41Total626,425.40304,857.05321,568.35
2020
(3)Explanationoncapitalizationofborrowingcostsatendingbalanceofinventory:nil
(4)Explanationonamortizedamountofcontractperformancecostincurrentperiod:nil
10.Contractassets:nil
11.Assetsheldforsale:nil
12.Non-currentassetsmaturingwithinoneyear:nil
13.Othercurrentassets
InRMB/CNYItemEndingbalanceBeginningbalancePrepaidenterpriseincometax
1,702,702.801,702,702.80Prepaidindividualincometax
2,837.744,778.06VATinputtaxtobededucted1,209,125.14808,143.62Prepaidfornewspaper,insurance,etc.
36,844.0156,413.98Others
2,404.11Total2,951,509.692,574,442.57Otherdescription:nil
2020
14.Creditorsinvestment:nil
15.Othercreditorsinvestment:nil
16.Long-termaccountreceivable
(1)Long-termaccountsreceivable:nil
(2)Long-termreceivablesderecognizedduetothetransferoffinancialassets:nil
(3)Theamountofassetsandliabilitiesformedbythetransferoflong-termreceivablesandcontinuedinvolvement:nil
17.Long-termequityinvestment:nil
18.Investmentinotherequityinstrument:nil
19.Othernon-currentfinancialassets:nil
20.Investmentproperties
(1)Investmentpropertiesmeasuredatcost
√Applicable□Notapplicable
InRMB/CNYItem
Buildingsandconstructions
Landuserights
Constructionin
process
TotalI.Originalbookvalue
1.Beginningbalance18,856,504.445,662,740.5924,519,245.03
2.Currentincrease
(1)Purchase
(2)Transferfrominventories/fixed
assets/constructioninprogress
(3)Increasefrombusinesscombinations
3.Currentdecrease
(1)Disposal
(2)Othertransfer-out
4.Endingbalance18,856,504.445,662,740.5924,519,245.03
2020
II.Accumulateddepreciationandaccumulatedamortization
1.Beginningbalance11,025,767.102,276,066.4513,301,833.55
2.Currentincrease214,142.7828,170.00242,312.78
(1)Provisionoramortization214,142.7828,170.00242,312.78
3.Currentdecrease
(1)Disposal
(2)Othertransfer-out
4.Endingbalance11,239,909.882,304,236.4513,544,146.33III.Provisionforimpairment
1.Beginningbalance1,404,400.471,903,054.143,307,454.61
2.Currentincrease
(1)Provision
3.Currentdecrease
(1)Disposal
(2)Othertransfer-out
4.Endingbalance1,404,400.471,903,054.143,307,454.61IV.Bookvalue
1.Endingbookvalue6,212,194.091,455,450.007,667,644.09
2.Openingbookvalue6,426,336.871,483,620.007,909,956.87
(2)Investmentrealestatemeasuredbyfairvalue
□Applicable√Notapplicable
(3)Investmentrealestatewithoutpropertycertificationheld:nil
21.Fixedassets
InRMB/CNYItemEndingbalanceBeginningbalanceFixedassets
33,463,950.0535,075,195.98
2020
Total33,463,950.0535,075,195.98
(1)Fixedassets
InRMB/CNYItem
Housesandbuildings
Mechanicalequipment
Transportationequipment
Electronicequipment
Otherequipment
TotalI.Originalbookvalue
1.Beginningbalance
136,789,501.829,613,076.542,130,663.572,266,121.243,125,353.67153,924,716.84
2.Currentincrease
44,530.3344,530.33
(1)Purchase
44,530.3344,530.33
(2)Transferfrom
constructioninprogress
(3)Increasefrom
businesscombinations
3.Currentdecrease
388,598.00388,598.00
(1)Disposalor
write-off
388,598.00388,598.00
4.Endingbalance
136,789,501.829,613,076.541,742,065.572,310,651.573,125,353.67153,580,649.17II.Accumulatedamortization
1.Beginningbalance
74,674,779.387,248,649.941,498,327.871,526,121.211,263,700.5086,211,578.90
2.Currentincrease
1,087,717.44143,528.8877,827.21108,069.51219,203.701,636,346.74
(1)Provision
1,087,717.44143,528.8877,827.21108,069.51219,203.701,636,346.74
3.Currentdecrease
369,168.48369,168.48
(1)Disposalor
write-off
369,168.48369,168.48
4.Endingbalance
75,762,496.827,392,178.821,206,986.601,634,190.721,482,904.2087,478,757.16III.Provisionforimpairment
1.Beginningbalance
31,072,788.171,565,153.7932,637,941.96
2.Currentincrease
(1)Provision
2020
3.Currentdecrease
(1)Disposalor
write-off
4.Endingbalance
31,072,788.171,565,153.7932,637,941.96IV.Bookvalue
1.Endingbookvalue
29,954,216.83655,743.93535,078.97676,460.851,642,449.4733,463,950.05
2.Openingbookvalue
31,041,934.27799,272.81632,335.70740,000.031,861,653.1735,075,195.98
(2)Temporarilyidlefixedassets:nil
(3)Fixedassetsacquiredbyfinancinglease:nil
(4)Fixedassetsacquiredbyoperatinglease:nil
(5)Certificateoftitleun-completed:nil
(6)Disposaloffixedassets:nil
22.Constructioninprocess
InRMB/CNYItemEndingbalanceBeginningbalanceConstructioninprocess4,074,092.55488,522.10Total4,074,092.55488,522.10
(1)Constructioninprocess
InRMB/CNYItem
EndingbalanceBeginningbalanceBookbalanceProvisionBookvalueBookbalanceProvisionBookvalueStaffdormitoryrenovationproject
348,873.78348,873.78Centralair-conditioningsystemandhotwatersystemcomprehensiverenovation
139,648.32139,648.32139,648.32139,648.32
2020
RenovationofguestroomsinBuilding-B
3,934,444.233,934,444.23Total4,074,092.554,074,092.55488,522.10488,522.10
(2)Changeofimportantprojectsunderconstructionintheperiod
InRMB/CNY
ProjectnameBudget
Beginningbalance
Current
increase
Amounttransfe
rredintofixedassetsintheperiod
Otheramoun
treductionintheperiod
Endingbalance
Proportionofaccumulativeprojec
tinvestmentsinthebudget
Projec
tprogre
ss
Accumulate
dcapitalizationamoun
tofinteres
t
Includin
g:
capitaliz
ationamount
oftheinterest
inthe
period
Capitalizationrate
oftheinterestintheperiod
(%)
Sourcesoffunds
RenovationofguestroomsinBuilding-B
12,000,0
00.00
3,934,44
4.23
3,934,
444.2
32.79
%40%
FinancialinstitutionloansCentralair-conditioningsystemandhotwatersystemcomprehensiverenovation
139,648.
139,6
48.32
Other
Staffdormitoryrenovationproject
348,873.
100%OtherStaffdormitoryrenovationproject
12,000,0
00.00
488,522.
3,934,44
4.23
4,074,
092.5
----
--
(3)Provisionforimpairmentofconstructioninprogressintheperiod:nil
(4)Engineeringmaterial:nil
23.Productivebiologicalasset
(1)Measuredbycost
□Applicable√Notapplicable
2020
(2)Measuredbyfairvalue
□Applicable√Notapplicable
24.Oilandgasassets
□Applicable√Notapplicable
25.Right-of-useassets:nil
26.Intangibleassets
(1)Intangibleassets
InRMB/CNYItemLanduserightsPatentright
Non-patentstechnology
TotalI.Originalbookvalue
1.Beginningbalance
81,653,137.1581,653,137.15
2.Currentincrease
(1)Purchase
(2)Internalresearchanddevelopment
(3)Increasefrombusinesscombinations
3.Currentdecrease
(1)Disposal
4.Endingbalance
81,653,137.1581,653,137.15II.Accumulatedamortization
1.Beginningbalance
32,819,438.4332,819,438.43
2.Currentincrease
401,142.58401,142.58
(1)Provision
401,142.58401,142.58
3.Currentdecrease
(1)Disposal
4.Endingbalance
33,220,581.0133,220,581.01III.Provisionforimpairment
1.Beginningbalance
27,440,836.8427,440,836.84
2020
2.Currentincrease
(1)Provision
3.Currentdecrease
(1)Disposal
4.Endingbalance
27,440,836.8427,440,836.84IV.Bookvalue
1.Endingbookvalue
20,991,719.3020,991,719.30
2.Openingbookvalue
21,392,861.8821,392,861.88
(2)Landuserightswithoutcertificateofownership:nil
27.Developmentexpenditure:nil
28.Goodwill:nil
29.Long-termdeferredexpenses
InRMB/CNYItem
Beginning
balance
Increasein
period
Amortizationin
period
Amountofother
decreases
EndingbalanceReconstructionoffire-fightingstairway
28,559.568,567.8219,991.74Swimmingpoolreconstruction
164,977.4829,995.90134,981.58ReconstructionofguestroomsinBuildingC
528,951.3896,172.96432,778.42Villareconstruction
963,555.84175,191.94788,363.90BuildingArenovationproject
9,028,874.38934,021.508,094,852.88Pavementmodificationproject
435,168.9445,017.46390,151.48Roofwaterproofingproject
370,091.7537,009.20333,082.55Staffdormitoryrenovationproject657,722.2654,810.19602,912.07Total11,520,179.33657,722.261,380,786.9710,797,114.62Otherdescription:nil
2020
30.Deferredincometaxassetsanddeferredincometaxliabilities:nil
31.Othernon-currentassets:nil
32.Short-termloans:nil
33.Tradingfinancialliability:nil
34.Derivativefinancialliability:nil
35.Notespayable:nil
36.Accountspayable
(1)Presentationofaccountspayable
InRMB/CNYItemEndingbalanceBeginningbalancePaymentforpurchase
310,395.42947,770.85Accountspayableprovisionallyestimated
57,041.13191,232.86Servicecharges
84,838.93Paymentforprojects
14,274.1014,274.10Elevatormaintenancefee
7,200.00Consignmentsales
1,093.001,093.00Others
4,000.01Total382,803.651,250,409.75
(2)Significantaccountspayablewithagingoveroneyear:nil
37.Advancefromcustomers
(1)Presentationofadvancesfromcustomers
InRMB/CNYItemEndingbalanceBeginningbalanceRoomandmealfees791,258.55786,715.42Total791,258.55786,715.42
2020
(2)Significantadvancesfromcustomerswithagingoveroneyear
InRMB/CNYItemEndingbalance
Reasonsforrepaymentfailureor
carry-forwardPEGASZhengQingbo
32,243.02UnsettlementHainanXiangyuanTourismDevelopmentCo.,Ltd.
28,131.00UnsettlementHainanQiongzhongEcologicalInvestmentGuaranteeCo.LTD
21,950.00UnsettlementRenKaiyu
9,774.00UnsettlementHainanChendaInternationalTravelServiceCo.LTD
8,779.00UnsettlementTotal100,877.02--Othernotes:nil
38.Contractualliability:nil
39.Employeecompensationpayable
(1)Presentationofemployeecompensationpayable
InRMB/CNYItem
Beginningbalance
IncreaseinPeriodDecreaseinPeriodEndingbalanceI.Short-termcompensation
2,552,996.375,027,987.585,745,681.481,835,302.47II.Post-employmentbenefits-definedcontributionplans
107,744.29107,744.29Total2,552,996.375,135,731.875,853,425.771,835,302.47
(2)Presentationofshort-termcompensation
InRMB/CNYItem
Beginning
balance
IncreaseinPeriodDecreaseinPeriodEndingbalance
1.Salaries,bonuses,allowances
andsubsidies
1,434,454.593,941,069.644,687,425.30688,098.93
2.Employeewelfareexpenses
710,453.21710,453.21
3.Socialinsurancepremiums
150,036.03150,036.03Including:medicalinsurance
149,197.23149,197.23
2020
premiumsWork-relatedinjuryinsurancepremiums
838.80838.80
4.Housingprovidentfunds
2,254.0097,798.0085,444.0014,608.00
5.Laborunionexpendituresand
employeeeducationfunds
1,116,287.78128,630.70112,322.941,132,595.54Total2,552,996.375,027,987.585,745,681.481,835,302.47
(3)Presentationofdefinedcontributionplans
InRMB/CNYItemBeginningbalanceIncreaseinPeriodDecreaseinPeriodEndingbalance
1.Basicendowment
insurancepremiums
104,142.26104,142.26
2.Unemployment
insurancepremiums
3,602.033,602.03Total107,744.29107,744.29Othernotes:nil
40.Taxespayable
InRMB/CNYItemEndingbalanceBeginningbalanceValueaddedtax(VAT)135,982.62135,982.62Corporateincometax
47.80
Individualincometax35,588.9018,333.52Urbanmaintenanceandconstructiontax
756.67902.73Housingpropertytax107,793.8097,050.89Landusetax54,295.4754,295.47Educationalsurtax
324.28386.88Localeducationsurtax
216.19257.94Total334,957.93307,257.85Othernotes:nil
41.Otherpayable
InRMB/CNYItemEndingbalanceBeginningbalance
2020
Otherpayable2,011,273.022,647,515.86Total2,011,273.022,647,515.86
(1)Interestpayable:nil
(2)Dividendpayable:nil
(3)Otherpayable
1)Presentationofotherpayablebynature
InRMB/CNYItemEndingbalanceBeginningbalanceEmployeedormitoryrentalfees,etc.
769,700.001,219,075.78Margin
556,241.91764,598.49Qualityguaranteedepositforprojects
540,655.00512,474.00Employeedeposit
86,520.0086,520.00Fundscollectedandremitted
30,969.0841,160.31Electricchargeswithheld
27,187.0323,687.28Total2,011,273.022,647,515.86
2)Othersignificantpayablewithagingoveroneyear:nil
42.Liabilityheldforsale:nil
43.Non-currentliabilityduewithinoneyear
InRMB/CNYItemEndingbalanceBeginningbalanceLong-termloansduewithinoneyear3,358,196.37Total3,358,196.37Othernotes:nil
44.Othercurrentliability:nil
45.Long-termloans:nil
(1)Long-termloanclassification
InRMB/CNY
2020
ItemEndingbalanceBeginningbalanceMortgageloan16,458,140.89Total16,458,140.89Explanationoflong-termloanclassification:
On10April2020,withthevillapropertyoftheHotelascollateral,applyingaloanof20millionyuantoHaikouBranchofIndustrialBank,termofloansisthreeyears.AsofendofthePeriod,aloanof19,791,474.22yuanhasbeendrawn.Otherinstructions,includinginterestraterange:nil
46.Bondpayable:nil
47.Leaseliability:nil
48.Long-termaccountpayable:nil
49.Long-termemployeepayable:nil
50.Estimatedliabilities
InRMB/CNY
ItemEndingbalanceBeginningbalanceReasonsProvisionsforarrearsofelectricitytariffs1,489,685.041,489,685.04
ThepowercompanymiscalculatedthecostsofelectricityTotal1,489,685.041,489,685.04--Otherdescription:includingimportantassumptionsandestimationforthemajoraccrualliability:nil
51.Deferredincome:nil
52.Othernon-currentliability:nil
53.Sharecapital
InRMB/CNYBeginning
balance
Changesintheperiod("+"forincreaseand"-"fordecrease)
EndingbalanceIssuanceofnewshares
Sharedonation
Conversionofreservesintoshare
OthersSub-totalTotalshares364,100,000.00364,100,000.00Othernotes:nil
2020
54.Otherequityinstrument:nil
55.Capitalreserves
InRMB/CNYItemBeginningbalanceIncreaseinPeriodDecreaseinPeriodEndingbalanceCapitalpremium(equitypremium)
33,336,215.5833,336,215.58Othercapitalreserves20,806,634.4320,806,634.43Total54,142,850.0154,142,850.01Otherdescription,includingchangesintheperiodandreasons:nil
56.Treasurystock:nil
57.Otherconsolidatedincome:nil
58.Reasonablereserve:nil
59.Surplusreserves:nil
60.Undistributedprofit
InRMB/CNYItemTheperiodLastperiodUndistributedprofitasattheendofthepreviousperiodbeforeadjustment-339,756,246.05-340,454,153.72Undistributedprofitasatthebeginningoftheperiodafteradjustment-339,756,246.05-340,454,153.72Plus:netprofitattributabletoownersoftheparentcompanyinthecurrentperiod-6,631,450.42755,974.01Undistributedprofitasattheendoftheperiod-346,387,696.47-339,698,179.71
61.Operatingrevenueandoperatingcost
InRMB/CNYItem
TheperiodLastperiodRevenueCostRevenueCostPrimarybusiness
4,089,491.054,815,416.6512,671,008.665,277,216.15Otherbusiness
892,380.95237,261.781,570,952.38237,261.78Total4,981,872.005,052,678.4314,241,961.045,514,477.93Revenue:
InRMB/CNYContracttype1#Division2#DivisionTotal
2020
Producttype4,089,491.054,089,491.05Including:
Roomincome3,471,155.973,471,155.97Including:
Hainan4,089,491.054,089,491.05Including:
Tourismandcateringservices4,089,491.054,089,491.05Including:
Including:
Including:
Including:
Total4,089,491.054,089,491.05Informationrelatingtoperformanceobligation:nil
62.Taxesandsurcharges
InRMB/CNYItemTheperiodLastperiod
Urbanconstructiontax8,585.5531,410.84Educationalsurtax
6,132.5322,436.31Housingpropertytax107,793.75215,587.50Landusetax54,295.47108,590.94Vehicleandvesselusetax3,720.005,220.00Stamptax1,604.90233.91Total182,132.20383,479.50Othernotes:nil
63.Sellingexpenses
InRMB/CNYItemTheperiodLastperiodStaffwagesandbenefits1,399,453.281,834,677.00SocialSecurityFeesandProvidentFund108,743.06302,950.00Depreciation
304,221.29259,401.60Utilitybills58,581.4899,980.13Repaircharges42,286.8595,930.17Otheritem181,908.28217,053.04Total2,095,194.242,809,991.94
2020
Othernotes:nil
64.Administrativeexpenses
InRMB/CNYItemTheperiodLastperiodStaffwagesandbenefits2,519,772.342,789,891.55SocialSecurityFeesandProvidentFund169,611.23321,053.70Businessentertainment179,012.82219,787.57Travelexpenses
97,323.85149,081.98Depreciationandamortizationoflanduserights567,872.48567,140.44Announcementfeeandagencyfee405,900.00655,420.00Otheritem261,442.63369,424.97Total4,200,935.355,071,800.21Othernotes:nil
65.R&Dexpenses:nil
66.Financialexpenses
InRMB/CNYItemTheperiodLastperiodInterestexpenses
76,128.55Less:interestincome
-89,077.69-152,697.12ProfitorlossonexchangeHandlingcharges11,635.7918,965.03Total-1,313.35-133,732.09Othernotes:nil
67.Otherincome
InRMB/CNYSourcesofotherincomeTheperiodLastperiodGovernmentgrants
150,000.00VATinputtaxplusdeduction112,840.35Total262,840.35
2020
68.Investmentincome:nil
69.Netopenhedgingbenefits:nil
70.Gainsfromfairvaluechanges:nil
71.Creditimpairmentloss:nil
72.Assetimpairmentloss:nil
73.Incomefromassetsdisposal:nil
74.Non-operatingrevenue
InRMB/CNYItemTheperiodLastperiod
Amountincludedinthecurrentnon-recurringprofitorlossOthers
2,593.62160,030.462,593.62Total2,593.62160,030.462,593.62Governmentsubsidiesreckonedintocurrentgains/losses:nil
75.Non-operatingexpenses
InRMB/CNYItemTheperiodLastperiod
Amountincludedinthecurrentnon-recurringprofitorlossLossondisposaloffixedassets19,129.5219,129.52Compensationforearlyterminationofthecontractsandotherrevenue
330,000.00330,000.00Total349,129.52349,129.52Othernotes:nil
76.Incometaxexpenses
(1)Incometaxexpensesstatement:nil
(2)Accountingprofitandincometaxexpenseadjustmentprocess
InRMB/CNYItemTheperiodTotalprofits
-6,631,450.42
2020
Otherdescription:nil
77.Othercomprehensiveincome
SeeNote
78.Notestoitemsofstatementofcashflows
(1)Cashreceivedfromotheroperatingactivities
InRMB/CNYItemTheperiodLastperiodInterestincome
89,077.69152,697.12Water,electricityandgascosts256,746.31679,120.76Governmenttourismmarketingincentivefunds150,000.00Deposits
200,000.00Other6,006.3673,624.00Total501,830.361,105,441.88Noteofcashreceivedfromotheroperatingactivities:nil
(2)Cashpaidforotheroperatingactivities
InRMB/CNYItemTheperiodLastperiodSocialintercoursefees
179,012.82221,362.57Intermediaryagencyauditfee390,000.00400,000.00Announcementfee12,900.00238,420.00Expensesforbusinesstrips
98,590.03151,940.09Promotionfee
25,341.7292,705.15Repaircharges
93,463.88211,454.36Otheritem1,008,645.73978,613.63Total1,807,954.182,294,495.80Noteofcashpaidforotheroperatingactivities:nil
2020
(3)Cashreceivedfromotherinvestmentactivities:nil
(4)Cashpaidforotherinvestingactivities:nil
(5)Cashreceivedfromotherfinancingactivities:nil
(6)Cashpaidforotherfinancingactivities:nil
79.Supplementaryinformationtothestatementofcashflows
(1)Supplementaryinformationtothestatementofcashflows
InRMB/CNYSupplementaryinformation
TheperiodLastperiod
1.Netprofitadjustedtocashflowsfromoperatingactivities
----Netprofit
-6,631,450.42755,974.01Depreciationoffixedassets,depreciationanddepletionofoilandgasassetsanddepreciationofproductivebiologicalassets
1,850,489.521,726,440.52Amortizationofintangibleassets429,312.58434,363.58Amortizationoflong-termdeferredexpenses1,380,786.97602,113.32Decreasesininventories("-"forincreases)-3,203.8229,696.62Decreasesinoperatingreceivable(“-”forincreases)402,181.50-513,490.92Increasesinoperatingpayable("-"fordecreases)-2,217,307.25-1,765,680.48Netcashflowfromoperatingactivities-4,789,190.921,269,416.65
2.Significantinvestingandfinancingactivitiesnotinvolvingcash
receiptsandpayments:
----
3.Netchangesincashandcashequivalents:
----Endingbalanceofcash17,832,633.2116,110,895.95Less:beginningbalanceofcash7,422,939.8915,364,355.30Netincreaseincashandcashequivalents10,409,693.32746,540.65
(2)Netcashpaymentfortheacquisitionofasubsidiaryofthecurrentperiod:nil
(3)Netcashreceivedfromthedisposalofsubsidiaries:nil
(4)Breakdownsofcashandcashequivalents
InRMB/CNYItemEndingbalanceBeginningbalance
2020
I.Cash
17,832,633.217,422,939.89Including:cashonhand
149,010.82302,077.12Unrestrictedcashatbank17,683,622.397,120,862.77III.Balanceofcashandcashequivalentsatendoftheperiod17,832,633.217,422,939.89Othernotes:nil
80.Notesforthestatementofownersequitychanges
Explaintheitemsandadjustedamountedwhichhaveadjustedin“Other”oflastyear’sendingbalance:nil
81.Assetswithownershiporuserightrestricted:nil
82.Itemofforeigncurrency:nil
(1)Itemofforeigncurrency:nil
(2)Explanationonforeignoperationalentity,includingasforthemajorforeignoperationalentity,disclosedmainoperationplace,book-keepingcurrencyandbasisforselection;ifthebook-keepingcurrencychanged,explainreasons
□Applicable√Notapplicable
83.Hedging
Releasedtheitemsandrelevantinstrumentsbytypes,andqualitativeandquantitativeinformationforhedgerisks:nil
84.Governmentsubsidy
(1).Governmentsubsidy
InRMB/CNYTypesAmountPresentationitem
Amountentryincurrent
gains/lossesGovernmenttourismmarketingincentivefunds150,000.00Otherincome150,000.00
(2)Refundofgovernmentsubsidy
□Applicable√Notapplicable
Othernotes:nil
2020
85.Other
VIII.Changeoftheconsolidationscope
1.Businesscombinationnotundercommoncontrol
(1)Businesscombinationnotundercommoncontroloccurredintheperiod:nil
(2)Combinationcostsandgoodwill:nil
(3)Identifiableassets/liabilitiesofthepurchaseeonthedateofpurchase:nil
(4)Gain/lossfromtheequityre-measuredatfairvalueheldbeforepurchasingdate:nilEnterprisecombinedstepbystepthroughmulti-dealingsandobtainedcontrollingrightsinthePeriod
□Yes√No
(5)Explanationoncombinedconsiderationortheidentifiableassetsandliabilities’fairvalueofthepurchasedpartyonpurchasingdateorattheendofthecurrentperiodofmerger,whichisimpossibletodetermineinareasonableway:nil
(6)Otherdescription:nil
2.Businesscombinationundercommoncontrol:nil
3.Counterpurchase:nil
Basicinformationofthetransaction,thebasisforthetransactiontoconstituteareversepurchase,whethertheassetsandliabilitiesretainedbythelistedcompanyconstituteabusinessanditsbasis,thedeterminationofthemergercost,theamountofequityadjustmentanditscalculationwhenhandlingaccordingtoequitytransactions:
Nil
4.Disposalofsubsidiaries
Losingcontrollingrightswhiledisposesubsidiaryonone-time
□Yes√No
Disposesubsidiarystepbystepthroughmulti-dealingsandlosingcontrollingrightsinthePeriod
□Yes√No
5.Changesofcombinationscope
Otherreasonscontributedthechangesforcombinationscope(e.g.newsubsidiaryestablished,liquidatesubsidiaryetc.):nil
2020
6.Other
IX.Rightsandinterestsinotherentities
1.Equityinsubsidiaries
(1)Structureoftheenterprisegroup
Nameofsubsidiary
Principalplaceofbusiness
RegistrationplaceBusinessnature
Shareholdingratio
MethodofacquisitionDirectIndirectHainanWengaoTouristResourcesDevelopmentCo.,Ltd.
Sanya,Hainan
BlockB,MainBuilding,HainanDadonghaiTourismCentre(Holdings)Co.,Ltd.,No.2,YuhaiRoad,JiyangDistrict,SanyaCity,HainanProvince
Leasingandcommercialserviceindustries
100.00
%
Newlyestablished
Anexplanationfortheshareholdingratiodifferingfromtheshareofthevotingrightsinthesubsidiaries:nil
2020
(2)Majornon-wholly-ownedsubsidiary:nil
(3)Mainfinancialinformationofthemajornon-wholly-ownedsubsidiary:nil
(4)Majorrestrictiononusingthegroup’sassetsandpayingoffdebtsforthegroup:nil
(5)Financialandothersupportsprovidedtothestructuredentitythatincludedinconsolidatefinancialstatementscope:nil
2.Changesintheowner'sequityshareofthesubsidiaryandthetransactionisstillcontrolledsubsidiary:
nil
3.Equityinarrangementofjointventureorassociatedenterprises:nil
4.Importantcommonmanagement:nil
5.Equityinstructuredentitiesnotincludedintheconsolidatedfinancialstatements:nil
6.Other:nil
X.Risksrelatedtofinancialinstruments:nilXI.Fairvaluedisclosures
1.Endingfairvalueoftheassetsandliabilitiesmeasuredbyfairvalue:nil
2.Recognizedbasisforthemarketpricesustainingandnon-persistentmeasuredbyfairvalueonfirst-order:nil
3.Thequalitativeandquantitativeinformationforthevaluationtechniqueandcriticalparameterthatsustainingandnon-persistentmeasuredbyfairvalueonsecond-order:nil
4.Thequalitativeandquantitativeinformationforthevaluationtechniqueandcriticalparameterthatsustainingandnon-persistentmeasuredbyfairvalueonthird-order:nil
5.Sensitivityanalysisofnon-observableparametersandadjustmentinformationbetweentheopeningbookvalueandendingbookvaluethatsustainingmeasuredbyfairvalueonthird-order:nil
6.Ifthereareconversionbetweendifferentordersthatsustainingmeasuredbyfairvalue,explaintheconversioncauseandpolicyofdeterminingthetimepointforconversion:nil
7.Thevaluationtechnicalchangeandreasonsoccurredintheperiod:nil
2020
8.Thefairvalueoffinancialassets/liabilitiesthatnotmeasuredunderthefairvalue:nil
9.Other:nil
XII.Relatedpartiesandrelatedpartytransactions
1.Parentcompany
Nameoftheparentcompany
Registrationplace
Businessnature
Registeredcapital
ShareholdingratiointheCompany
VotingratiointheCompanyLuoniushanCo.,Ltd.Haikou
Plantingandbreedingindustry
11511517.55%19.80%Explanation:
AsatJune30,2020,LuoniushanCo.,Ltd.(hereinafterreferredtoas"Luoniushan")anditswholly-ownedsubsidiaryHainanYa'anjuPropertyServicesCo.,Ltd.heldatotalof72,092,000AsharesoftheCompany,accountingfor19.80%oftheCompany'stotalsharecapital,soitistheCompany'slargestshareholder.UltimatecontrollingpartyoftheCompanyisLuoniushanCo.,Ltd.
2.SubsidiaryoftheEnterprise
FoundmoreinNotes
3.Jointventureandassociatedenterprise:nil
4.Otherrelatedparty:nil
5.Relatedpartytransactions
(1)Relatedpartytransactionsofpurchasingandsellingcommodities,providingandreceivinglaborservices
Procurementofgoods/acceptanceoflabor:nilSalesofgoods/providedlaborservice:
InRMB/CNYRelatedpartyContentofrelated-partytransactionTheperiodLastperiodLuoniushanCo.,Ltd.Roomandmealfees
2,934.60125,150.00Noteofrelatedpartytransactionsofpurchasingandsellingcommodities,providingandreceivinglaborservices:nil
2020
(2)Associatedtrusteeshipmanagement/contractandtrusteeship/outsourcing:nil
(3)Related-partylease:nil
(4)Related-partyguarantee:nil
(5)Related-partyfundslending:nil
(6)Related-partyassettransferanddebtrestructuring:nil
(7)Keymanagementpersonnelemoluments:nil
(8)Otherrelatedtransactions:nil
6.Receivablesandpayableoftherelatedparty:nil
7.Relatedparty’scommitment
AccordingtotherequirementsoftheChinaSecuritiesRegulatoryCommission(hereinafterreferredtoas"CSRC")ontheGuidelinesfortheSupervisionofListedCompaniesNo.4--CommitmentsofandPerformanceofCommitmentsbyActualControllers,Shareholders,RelatedParties,AcquirersofListedCompaniesandListedCompanies(AnnouncementoftheChinaSecuritiesRegulatoryCommission[2013]No.55),onJune7,2014,LuoniushanCo.,Ltd.(hereinafterreferredtoas“Luoniushan”)issuedaLetterregardingtheChangeofLuoniushanCo.,Ltd.’sCommitmenttoHainanDadonghaiTourismCentre(Holdings)Co.,Ltd.totheCompany,committingthat,withinthreeyearsfromthedatewhenthechangeofsuchcommitmentisreviewedandadoptedattheCompany'sgeneralmeeting,LuoniushanwillactivelyseekrestructuringpartywhowillconducttheassetrestructuringontheCompany.TheabovematterswerereviewedandapprovedbytheboardofshareholdersoftheCompanyonJune27,2014.OnJune23,2017,LuoniushanissuedaLetterregardingtheChangeofLuoniushanCo.,Ltd.’sCommitmentDurationtoHainanDadonghaiTourismCentre(Holdings)Co.,Ltd.,andextendedtheimplementationperiodoftheaboverestructuringcommitmentmadebyLuoniushantotheCompany,thatis,thedeadlinefortheimplementationperiodoftherestructuringcommitmentwaschangedtoDecember27,2017.AsofJune30,2020,nofurtherprogresswasmadeontheabove-mentionedassetrestructuringcommitments.
2020
8.Other:nil
XIII.Share-basedpayment
1.Share-basedpayment
□Applicable√Notapplicable
2.Settledbyequity
□Applicable√Notapplicable
3.Settledbycash
□Applicable√Notapplicable
4.Modificationandterminationofshare-basepayment
5.Other
XIV.Commitmentsandcontingencies
1.Commitments
CommitmentsonbalancesheetdateAsofthebalancesheetdate,thecompanyhasnocommitmentsthatshouldbedisclosed.
2.Contingencies
(1)Majorcontingenciesonbalancesheetdate
1)TheCompanyowedtheelectricitybilltotheSanyaPowerSupplyBureau.OnMay26,2016,theCompanyreceivedalawyerletterfromHainanYunfanLawFirmentrustedbySanyaPowerSupplyBureauofHainanPowerGridCo.,Ltd.(hereinafterreferredtoas"SanyaPowerSupplyBureau"),sayingthatSanyaPowerSupplyBureaufound,inverifyingelectricityconsumptionbySouthChinaHotel,asubsidiaryoftheCompany,thatthecurrenttransformer(CT)installedinthedistributioncentermeteringcountersinSouthChinaHotelinstalledwasinconsistentwiththerecordinthemarketingmanagementsystemfileofSanyaPowerSupplyBureau,andthedurationoftheinconsistencewasfromJuly2006whenSouthChinaHotelchangeditselectricityconsumptionmeasuringdevicetoApril2016.Accordingtothestatistics,electricityconsumptionof10313373KWHwasmeasuredinshort,whichwasestimatedtobevaluedatRMB7,200,165.75accordingtotheelectricitypricesandsurchargeratesintheyears.AccordingtotheLegalConsultationAdviceonElectricityQuantity(ElectricityCharge)ClaimingDispute
2020
betweenSouthChinaHotelandSanyaPowerSupplyBureauissuedbyBeijingJunhe(Haikou)LawFirmonDecember20,2016,asallelectricityconsumptionmeteringdevicesarepurchased,installed,sealed,openedandreplacedbySanyaPowerSupplyBureauResponsible,theshortmeasurementofelectricitychargefromSouthChinaHotelformanyyearswasduetothefaultofSanyaPowerSupplyBureau,andwasirrelevanttoSouthChinaHotel.PursuanttoArticle135oftheGeneralPrinciplesofCivilLaw:"Exceptasotherwisestipulatedbylaw,thelimitationofactionregardingapplicationstoapeople'scourtforprotectionofcivilrightsshallbetwoyears.,theCompanyaccruedanamountofRMB1,489,685.04fortheelectricitychargeforelectricityquantitymeasuredinshortduringtwoyearsfromApril2014toApril2016.AsatJune30,2020,nofurtherprogresswasmadeonthismatter.
2)TheCompanyannouncedonJune3,2019thatHainanDadonghaiTourismCentre(Holdings)Co.,Ltd.(hereinafterreferredtoas“DadonghaiGroup”)hadborrowedRMB2.76millionandRMB4.55millionfromtheCompanyonOctober16,1996andDecember26,1996respectively.ThetwoloanstotaledRMB7.31millionandhavenotbeenrepaidyet.TheCompanyfiledalawsuitwiththeSuburbanPeople'sCourtofSanya,Hainanprovince(hereinafterreferredtoasthe"court"),requestingthedefendantDadonghaigrouptorepaytheloanofRMB7.31milliontotheCompany.Thecompanyhasreceivedthe(2019)[Qiong0271MinchuNo.5185]NoticeofAcceptanceofTheCaseissuedbythecourt.Thecaseisstillpending.Thisclaim,thecompanyhasbeenin2008fullwrite-off.
3)OnMay31,2018,theSanyaLocalTaxationBureauSocialSecurityFeeCollectionandManagementBureauissuedanoticeofpaymentofsocialinsurancepremiumstothecompany’sSouthChinaHotel,orderingthecompany’sSouthChinaHoteltopaythearrearsofsocialinsurancepremiumsandlatefeesandinteresttotaled286,200.36yuanfromJanuary1,2012toDecember31,2012withinthetimelimit.OnMay17,2018,theSanyaLocalTaxationBureaudeductedtheamountfromthedepositofthecompany'sSouthChinaHotel.Accordingtothe"SouthChinaHotelTargetOperationandManagementResponsibilityLetter"signedbythecompany'sSouthChinaHotelandSunHongjie,SunHongjieshouldberesponsibleforthepaymentoftheoutstandingsocialinsurancepremiums.Forthisreason,thecompanysuedtothecourt.OnFebruary25,2020,thecourtruledthatSunHongjieshallreimbursethecompanyforthesocialinsurancepremiums,latefeesandinteresttotaling286,200.36yuanfromthedatewhenthejudgmentbecomeslegallyeffective.Atpresent,thejudgmenthasbecomelegallyeffectiveandhasenteredtheenforcementprocedure.
(2)Fornomajorcontingenciesdisclosed,explainreasons
TheCompanyhasnomajorcontingenciesshouldbedisclosed
2020
3.Other
XV.Postbalancesheetevents
1.Majornon-adjustmentevents:nil
2.Profitdistribution:nil
3.Salesreturn:nil
4.Otherpostbalancesheetevents:nil
XVI.Othersignificantevents
1.Correctionofaccountingerrorsinpreviousperiods:nil
2.Debtreorganization:nil
3.Assetsexchange
(1)Non-monetaryassetsexchange:nil
(2)Otherassetsexchange:nil
4.Annuityplan:nil
5.Terminationofoperation:nil
6.Segmentinformation:nil
7.Majortradinganditemsshowsinfluenceoninvestors’decision-making:nil
8.Other:nil
XVII.Notestomainitemsoffinancialstatementsoftheparentcompany
1.Accountsreceivable
(1)Disclosureofaccountreceivablesbycategory
InRMB/CNYCategory
EndingbalanceBeginningbalanceBookbalance
Provisionforbaddebt
Bookvalue
Bookbalance
Provisionforbaddebt
Bookvalue
2020
Amoun
t
Ratio
Amoun
t
Provisionratio
Amount
Ratio
Amount
ProvisionratioIncluding:
Accountsreceivablewithprovisionforbaddebtsbasedonportfolios
204,91
9.84
100.00
%109,76
5.83
53.57
%95,154.
420,84
9.75
100.00
%109,76
5.83
26.08%311,083.92
Including:
Total
204,91
9.84
100.00
%
109,76
5.83
53.57
%
95,154.
420,84
9.75
100.00
%
109,76
5.83
26.08%311,083.92
Accountsreceivablewithprovisionforbaddebtsmadeseparately:nilProvisionforbaddebtbyportfolio:nilIfthebaddebtprovisionofanaccountreceivableiswithdrawnaccordingtothegeneralmodelofexpectedcreditloss,pleaserefertothedisclosuremethodofotherreceivablestodisclosetherelevantinformationofbaddebtprovision
□Applicable√Notapplicable
Releasedbyaccountage
InRMB/CNYAccountageEndingbalanceWithin1year(including1year)111,851.841yearto2years
2,259.002yearsto3years
566.00
Over3years90,243.003yearsto4years
785.00
4yearsto5years
18,633.00Over5years70,825.00Total204,919.84
(2)Provision,reversalorrecoveryofprovisionforbaddebtsintheperiod:nil
(3)Accountreceivableactuallychargeoffintheperiod:nil
(4)Topfiveaccountsreceivableintermsofendingbalancecollectedbythedebtor
InRMB/CNYNameofentity
Endingbalanceofaccountreceivable
Proportioninthetotalaccountsreceivableatperiod-end
Endingbalanceofthebad
debtprovision
2020
ShanghaiHechengInternationalTravelServiceCo.,Ltd.
63,857.6631.16%3,558.30GuangzhouDesignInstitute38,980.0019.02%38,980.00TianjinWatermelonTourismLimitedLiabilityCompany
22,516.6210.99%3,566.61YangpuHuayuRoad&BridgeTechnologyCo.,Ltd.
18,633.009.09%9,316.50ChinaInternationalTravelService(Beijing)
13,540.206.61%13,540.00Total157,527.4876.87%
(5)Accountreceivablethatareterminatedduetofinancialassetstransfer:nil
(6)Assetsandliabilitiesresultedbyaccountreceivabletransferandcontinuesinvolvement:nil
2.Otheraccountreceivable
InRMB/CNYItemEndingbalanceBeginningbalanceOtheraccountreceivable385,492.93571,744.52Total385,492.93571,744.52
(1)Interestreceivable
1)Classificationofinterestreceivable:nil
2)Importantoverdueinterest:nil
3)Provisionforbaddebt:
□Applicable√Notapplicable
(2)Dividendreceivable
1)Category:nil
2)Significantdividendreceivablewithoveroneyearaccountage:nil
3)Provisionforbaddebt:
□Applicable√Notapplicable
2020
(3)Otheraccountreceivable
1)Otheraccountreceivabledisclosedbynature
InRMB/CNYNatureEndingbookbalanceOpeningbookbalanceUtilitybills130,643.9976,534.42Pettycash169,993.97394,313.63Socialinsuranceandhousingprovidentfunds45,784.7961,826.29Deposit
600.00600.00Litigationfee68,562.0068,562.00Total415,584.75601,836.34
2)Provisionforbaddebt:
InRMB/CNYProvisionforbaddebt
FirststageSecondstageThirdstage
TotalExpectedcreditlossinnext12
months
Expectedcreditlossforthewholeduration(no
creditimpairment)
Expectedcreditlossforthe
wholeduration(creditimpairmenthasoccurred)Balanceasof1Jan.202030,091.8230,091.82BalanceasofJanuary1.2020incurrentperiod
————————BalanceasofJune30,202030,091.8230,091.82Changeofthebookbalanceformajoramountchangedinlossprovision
□Applicable√Notapplicable
Releasedbyaccountage
InRMB/CNYAccountageEndingbalanceWithin1year(inclusive)413,348.75Over3years2,236.00Over5years2,236.00Total415,584.75
3)Provision,reversalorrecoveryofprovisionforbaddebtsintheperiodProvisionforbaddebtintheperiod
InRMB/CNY
2020
Category
Beginning
balance
Amountchangedintheperiod
EndingbalanceAccrualReversalorswitch-backChargeoffOtherOtheraccountreceivable
30,091.8230,091.82Total30,091.8230,091.82Includingmajoramountreversalorswitch-backintheperiod:nil
4)Otherreceivablesactuallychargeoffintheperiod:nil
5)Topfiveotheraccountsreceivableintermsofendingbalancecollectedbythedebtor
InRMB/CNYNameofentityNatureEndingbalanceAccountage
Proportionintotalamountofotheraccountsreceivableatperiod-end
Endingbalanceofthebaddebt
provisionBrightmoonpavilionmusicrestaurant
Utilitybills87,323.92Within1year
21.01%3,356.74
Sanyasuburbanpeople'scourt
Litigationfee68,562.00Within1year
16.50%3,428.10
Personalsocialinsurancepremium
Advancepayment
45,784.79Within1year
11.02%2,468.92
GuoYuboPettycash38,300.26Within1year
9.22%4,718.33
ChenGangPettycash34,340.20Within1year
8.26%3,949.84
Total--274,311.17--66.01%17,921.93
6)Accountreceivablesrelatedtogovernmentsubsidies:nil
7)Otherreceivableforterminationofconfirmationduetothetransferoffinancialassets:nil
8)Theamountofassetsandliabilitiesthataretransferredotherreceivableandcontinuedtobeinvolved:nil
3.Long-termequityinvestments
InRMB/CNYItem
EndingbalanceBeginningbalanceBookbalance
Provisionforimpairment
BookvalueBookbalance
Provisionforimpairment
BookvalueInvestmentinsubsidiaries
1,000,000.001,000,000.001,000,000.001,000,000.00Total1,000,000.001,000,000.001,000,000.001,000,000.00
2020
(1)Investmentinsubsidiaries
InRMB/CNYInvestee
Beginningbalance(Book
value)
Increase/decreasedintheperiod
Endingbalance(Book
value)
EndingbalanceoftheprovisionforimpairmentAdditionalinvestment
Capitalreduction
Provisionforimpairment
OtherHainanWengaoTouristResourcesDevelopmentCo.,Ltd.
1,000,000.001,000,000.00Total1,000,000.001,000,000.00
(2)Investmentforjointventureandassociatedenterprise:nil
(3)Otherdescription:nil
4.Operatingrevenueandoperatingcost
InRMB/CNYItem
TheperiodLastperiodRevenueCostRevenueCostPrimarybusiness
4,089,491.054,815,416.6512,671,008.665,277,216.15Otherbusinesses
892,380.95237,261.781,570,952.38237,261.78Total4,981,872.005,052,678.4314,241,961.045,514,477.93Revenue:
InRMB/CNYContracttype1#Division2#DivisionTotalProducttype4,089,491.054,089,491.05Including:
Roomincome3,471,155.973,471,155.97Including:
Hainan4,089,491.054,089,491.05Including:
Tourismandcateringservices4,089,491.054,089,491.05Including:
Including:
Including:
2020
Including:
Total4,089,491.054,089,491.05Informationrelatingtoperformanceobligation:nil
5.Investmentincome:nil
6.Other:nil
XVIII.Supplementaryinformation
1.Breakdownofcurrentnon-recurringprofitsandlosses
√Applicable□Notapplicable
InRMB/CNYItem
AmountRemarkProfitorlossfromdisposalofnon-currentassets-19,129.52LossofscrappedfixedassetsGovernmentgrantsincludedinthecurrentprofitorloss(exceptforgovernmentgrantscloselyrelatedtotheenterprisebusiness,obtainedbyquotaorquantityatunifiedstatestandards)
262,840.35
RewardsfordevelopmentofinboundtourismmarketsupportingbythegovernmentandtaxcreditfortheVATinputtaxsurchargeOthernon-operatingrevenueandexpensesexceptfortheabove-mentioneditems
-327,406.38
CompensationforearlyterminationofthecontractsandotherrevenueOtherincomeTotal-83,695.55--Concerningtheextraordinaryprofit(gain)/lossdefinedbyQ&AAnnouncementNo.1onInformationDisclosureforCompaniesOfferingTheirSecuritiestothePublic---ExtraordinaryProfit/loss,andtheitemsdefinedasrecurringprofit(gain)/lossaccordingtothelistsofextraordinaryprofit(gain)/lossinQ&AAnnouncementNo.1onInformationDisclosureforCompaniesOfferingTheirSecuritiestothePublic---ExtraordinaryProfit/loss,explainreasons
□Applicable√Notapplicable
2.Returnonequity(ROE)andearningspershare(EPS)
ProfitduringthereportingperiodWeightedaverageROE
EarningspershareBasicEPS(RMB/Share)
DilutedEPS(RMB/Share)NetprofitsattributabletoordinaryshareholdersoftheCompany
-9.23%-0.0182-0.0182NetprofitsattributabletoordinaryshareholdersoftheCompanyafterdeductionofnon-recurringprofitsorlosses
-9.11%-0.0180-0.0180
2020
3.AccountingdifferencebetweenIFRSandCAS
(1)Differenceofthenetprofitandnetassetsdisclosedinfinancialreport,underbothIAS(InternationalAccountingStandards)andChineseGAAP(GenerallyAcceptedAccountingPrinciples)
□Applicable√Notapplicable
(2)Differenceofthenetprofitandnetassetsdisclosedinfinancialreport,underbothforeignaccountingrulesandChineseGAAP(GenerallyAcceptedAccountingPrinciples)
□Applicable√Notapplicable
(3)ExplanationondatadifferencesundertheaccountingstandardsinandoutofChina;asforthedifferencesadjustmentauditedbyforeignauditinginstitute,listednameoftheinstitute:nil
4.Other
2020
SectionXII.DocumentsavailableforreferencesI.TextofSemi-AnnualReport2020withsignatureofthelegalperson;II.Financialstatementwithsignatureandsealoflegalperson,personinchargeofaccountingworksandpersoninchargeofaccountingorgan(accountantincharge);III.TheoriginalmanuscriptsofalldocumentsandannouncementsoftheCompanypubliclydisclosedonwebsiteappointedbyCSRC;IV.OtherrelevantdocumentsTheabovesaiddocumentsarepreparedinthesecuritydepartmentoftheCompany
HainanDadonghaiTourismCentre(Holdings)Co.,Ltd.
Chairman:YuanXiaoping20August2020