SHENZHENCEREALSHOLDINGSCO.,LTD.
SEMI-ANNUALREPORT2020
August2020
SectionI.ImportantNotice,ContentsandInterpretation
BoardofDirectors,SupervisoryCommittee,alldirectors,supervisorsandseniorexecutivesofSHENZHENCEREALSHOLDINGSCO.,LTD.(hereinafterreferredtoastheCompany)herebyconfirmthattherearenoanyfictitiousstatements,misleadingstatements,orimportantomissionscarriedinthisreport,andshalltakeallresponsibilities,individualand/orjoint,forthereality,accuracyandcompletionofthewholecontents.ChairmanoftheCompanyZhuJunming,GeneralManagerHuXianghai,HeadofAccountingJinZhenyuanandHeadofAccountingInstitution(AccountingSupervisors)WenJieyuherebyconfirmthattheFinancialReportofSemi-AnnualReport2020isauthentic,accurateandcomplete.Inadditiontothefollowingdirectors,otherdirectorsattendedtheBoardMeetingforthedeliberationofthesemi-annualreport.
| Nameofthedirectornotpresentinperson | Titleofthedirectornotpresentinperson | Reasonfornotattendingthemeetinginperson | Nameofprincipal |
| LuQiguang | Director | Onabusinesstrip | HuXianghai |
Concerningtheforward-lookingstatementswithfutureplanninginvolvedinthesemi-annualreport,theydonotconstituteasubstantialcommitmentforinvestors,SecuritiesTimes,ChinaSecuritiesJournal,HongKongCommercialDailyandJuchaoWebsite(www.cninfo.com.cn)arethemediaappointedbytheCompanyforinformationdisclosure,allinformationoftheCompanydisclosedintheabovementionedmediashouldprevail.Investorsareadvisedtoexercisecautionofinvestmentrisks.TheCompanyhasanalyzedtheriskfactorsthattheCompanymayexistanditscountermeasuresinthereport,investorsareadvisedtopayattentiontoread“RisksandCountermeasures”inthereportofSectionIV-DiscussionandAnalysisoftheOperation.ThisreporthasbeenpreparedinChineseandEnglish
versionrespectively.Intheeventofdifferenceininterpretationbetweenthetwoversions,Chinesereportshallprevail.TheCompanyplansnottodistributedcashdividend,bonusandnocapitalizingofcommonreserveseither.
Contents
Semi-AnnualReport2020 ...... 1
SectionIImportantNotice,ContentsandInterpretation ...... 2
SectionIICompanyProfileandMainFinancialIndexes ...... 6
SectionIIISummaryofCompanyBusiness ...... 10
SectionIVDiscussionandAnalysisofOperation ...... 14
SectionVImportantEvents ...... 27
SectionVIChangesinsharesandparticularaboutshareholders ...... 37
SectionVIIPreferredStocks ...... 42
SectionVIIIConvertiblebonds ...... 43
SectionIXDirectors,SupervisorsandSeniorExecutives ...... 44
SectionXCorporateBonds ...... 45
SectionXIFinancialReprot ...... 46
SectionXIIDocumentsAvailableforReference ...... 220
Interpretation
| Items | Refersto | Contents |
| SZCH/ListedCompany/theCompany/ | Refersto | ShenzhenCerealsHoldingsCo.,Ltd. |
| SZCG | Refersto | ShenzhenCerealsGroupCo.,Ltd |
| HualianCompany | Refersto | ShenzhenHualianGrainandOilTradingCo.,Ltd. |
| ShenliangProperty | Refersto | ShenzhenShenliangPropertyDevelopmentCo.,Ltd. |
| Doximi | Refersto | ShenliangDoximiBusinessCo.,Ltd. |
| ShenzhenFlour,FlourCompany | Refersto | ShenzhenFlourCo.,Ltd |
| ShenliangQualityInspection | Refersto | ShenliangQualityInspectionCo.,Ltd. |
| DongguanLogistics | Refersto | DongguanShenliangLogisticsCo.,Ltd. |
| DongguanFoodIndustrialPark | Refersto | DongguanInternationalFoodIndustrialParkDevelopmentCo.,Ltd. |
| BigKitchen | Refersto | ShenzhenShenliangBigKitchenFoodSupplyChainCo.,Ltd |
| ShenliangColdChain | Refersto | ShenzhenShenliangColdChainLogisticsCo.,Ltd. |
| ShenbaoHuacheng | Refersto | ShenzhenShenbaoHuachengTechnologyCo.,Ltd. |
| ShenbaoInvestment | Refersto | ShenzhenShenshenbaoInvestmentCo.,Ltd. |
| ShenbaoSanjing | Refersto | ShenzhenShenbaoSanjingFoodandBeverageDevelopmentCo.,Ltd. |
| WuyuanJuFangYong | Refersto | WuyuanJuFangYongTeaIndustryCo.,Ltd. |
| SYDATA | Refersto | SHENZHENSYDATATECHNOLOGYCO.,LTD |
| FoodGroup | Refersto | ShenzhenFoodMaterialsGroupCo.,Ltd,ShenzhenFoodGroupCo.,Ltd. |
| AgriculturalProducts | Refersto | ShenzhenAgriculturalProductsGroupCo.,Ltd |
| ShenzhenSASAC | Refersto | ShenzhenMunicipalPeople’sGovernmentState-ownedAssetsSupervision&AdministrationCommission |
| CSRC | Refersto | ChinaSecuritiesRegulationCommission |
| RMB/10thousandyuan | Refersto | CNY/tenthousandyuan |
SectionIICompanyProfileandMainFinancialIndexes
I.Companyprofile
| Shortformforshare | SZCH,ShenliangB | Stockcode | 000019,200019 |
| Listingstockexchange | ShenzhenStockExchange | ||
| ChinesenameoftheCompany | 深圳市深粮控股股份有限公司 | ||
| Abbr.ofChinesenameoftheCompany(ifapplicable) | 深粮控股 | ||
| EnglishnameoftheCompany(ifapplicable) | SHENZHENCEREALSHOLDINGSCO.,LTD | ||
| LegalRepresentative | ZhuJunming | ||
II.Person/Waytocontact
| SecretaryoftheBoard | Rep.ofsecurityaffairs | |
| Name | DaiBin | ChenKaiyue,LiuMuya |
| Contactadd. | 13/F,TowerA,WorldTradePlaza,No.9FuhongRd.,FutianDistrict,Shenzhen | 13/F,TowerA,WorldTradePlaza,No.9FuhongRd.,FutianDistrict,Shenzhen |
| Tel. | 0755-82027522 | 0755-82027522 |
| Fax. | 0755-83778311 | 0755-83778311 |
| szch@slkg1949.com | chenky@slkg1949.com,liumy@slkg1949.com |
III.Others
1.WayofcontactWhetherregistrationsaddress,officesaddressandcodesaswellaswebsiteandemailoftheCompanychangedinreportingperiodornot
□Applicable√NotapplicableTheregistrationsaddress,officesaddressandcodesaswellaswebsiteandemailoftheCompanyhavenochangesinthePeriod,foundmoreinAnnualReport2019.
2.Informationdisclosureandpreparationplace
Whetherinformationdisclosureandpreparationplacechangedinreportingperiodornot
□Applicable√NotapplicableThenewspaperappointedforinformationdisclosure,websiteforsemi-annualreportpublishappointedbyCSRCandpreparationplaceforsemi-annualreporthavenochangeinreportingperiod,foundmoredetailsinAnnualReport2019.IV.MainaccountingdataandfinancialindexesWhetherinformationdisclosureandpreparationplacechangedinreportingperiodornot
□Yes√No
| CurrentPeriod | Sameperiodoflastyear | Changesoverlastyear(+,-) | |
| Operatingrevenue(RMB) | 4,740,428,222.10 | 4,782,167,732.69 | -0.87% |
| NetprofitattributabletoshareholdersofthelistedCompany(RMB) | 210,738,686.12 | 203,168,850.61 | 3.73% |
| NetprofitattributabletoshareholdersofthelistedCompanyafterdeductingnon-recurringgainsandlosses(RMB) | 196,760,081.80 | 198,195,100.05 | -0.72% |
| Netcashflowarisingfromoperatingactivities(RMB) | 9,610,361.15 | -389,429,629.75 | 102.47% |
| Basicearningspershare(RMB/Share) | 0.1828 | 0.1763 | 3.69% |
| Dilutedearningspershare(RMB/Share) | 0.1828 | 0.1763 | 3.69% |
| WeightedaverageROE | 4.66% | 4.82% | -0.16% |
| EndofcurrentPeriod | Endoflastyear | Changesoverendoflastyear(+,-) | |
| Totalassets(RMB) | 7,028,727,913.52 | 6,775,067,275.86 | 3.74% |
| NetassetsattributabletoshareholderoflistedCompany(RMB) | 4,400,982,300.34 | 4,420,751,187.57 | -0.45% |
V.DifferenceoftheaccountingdataunderaccountingrulesinandoutofChina
1.Differenceofthenetprofitandnetassetsdisclosedinfinancialreport,underbothIAS(InternationalAccountingStandards)andChineseGAAP(GenerallyAcceptedAccountingPrinciples)
√Applicable□Notapplicable
InRMB
| NetprofitattributabletoshareholdersoflistedCompany | NetassetsattributabletoshareholdersoflistedCompany | |||
| Currentperiod | Lastperiod | Period-end | Period-begin | |
| ChineseGAAP | 210,738,686.12 | 203,168,850.61 | 4,400,982,300.34 | 4,420,751,187.57 |
| ItemsandamountadjustedbyIAS | ||||
| Adjustmentforotherpayablefundofstock | 1,067,000.00 | 1,067,000.00 | ||
| marketregulation | ||||
| IAS | 210,738,686.12 | 203,168,850.61 | 4,402,049,300.34 | 4,421,818,187.57 |
2.Differenceofthenetprofitandnetassetsdisclosedinfinancialreport,underbothforeignaccountingrulesandChineseGAAP(GenerallyAcceptedAccountingPrinciples)
□Applicable√NotapplicableTheCompanyhasnoabovementionedconditionoccurredintheperiod
3.ExplanationondifferencesofthedataunderaccountingstandardsinandoutofChina
□Applicable√Notapplicable
VI.Itemsandamountsofextraordinaryprofit(gains)/loss
√Applicable□Notapplicable
InRMB
| Item | Amount | Note |
| Gains/lossesfromthedisposalofnon-currentasset(includingthewrite-offthataccruedforimpairmentofassets) | 2,326,477.57 | |
| Governmentalsubsidyreckonedintocurrentgains/losses(notincludingthesubsidyenjoyedinquotaorrationaccordingtonationalstandards,whicharecloselyrelevanttoenterprise’sbusiness) | 10,824,560.17 | |
| Fundpossessioncostreckonedincurrentgain/losschargedfromnon-financialenterprise | 204,763.50 | |
| Profitandlossofassetsdelegationonothers’investmentormanagement | 7,544,998.92 | |
| Gainsandlossesfromchangeoffairvaluesofheld-for-transactionfinancialassets,derivativefinancialassets,held-for-transactionfinancialliabilityandderivativefinancialliabilityexceptfortheeffectivehedgebusinessrelatedtonormalbusinessoftheCompany,andinvestmentincomefromdisposaloftradablefinancialassets,derivativefinancialassets,tradablefinancialliability,derivativefinancialliabilityandotherdebtinvestment. | -572,784.42 | |
| Switch-backofprovisionofimpairmentofaccountreceivableandcontractassetswhicharetreatedwithseparatedepreciationtest | 1,176,620.32 | |
| Othernon-operatingincomeandexpenditureexceptfortheaforementioneditems | -3,827,866.72 | |
| Othergains/lossesitemsthatconformtothedefinitionofnon-recurringgains/losses | 337,500.00 | |
| Less:impactonincometax | 3,616,736.56 | |
| Impactonminorityshareholders’equity(post-tax) | 418,928.46 | |
| Total | 13,978,604.32 | -- |
Concerningtheextraordinaryprofit(gain)/lossdefinedbyQ&AAnnouncementNo.1onInformationDisclosureforCompanies
OfferingTheirSecuritiestothePublic---ExtraordinaryProfit/loss,andtheitemsdefinedasrecurringprofit(gain)/lossaccordingtothelistsofextraordinaryprofit(gain)/lossinQ&AAnnouncementNo.1onInformationDisclosureforCompaniesOfferingTheirSecuritiestothePublic---ExtraordinaryProfit/loss,explainreasons
□Applicable√NotapplicableInreportingperiod,theCompanyhasnoparticularaboutitemsdefinedasrecurringprofit(gain)/lossaccordingtothelistsofextraordinaryprofit(gain)/lossinQ&AAnnouncementNo.1onInformationDisclosureforCompaniesOfferingTheirSecuritiestothePublic---ExtraordinaryProfit/loss
SectionIIISummaryofCompanyBusiness
I.MainbusinessesoftheCompanyinthereportingperiod
Duringthereportingperiod,thecompanyfurtherpromotedthebusinessintegrationandcoordinateddevelopment,themainbusinessincludesthewholesaleandretailbusiness,foodprocessingandmanufacturingbusiness,leasingandcommerceservicebusiness.Thewholesaleandretailbusinessaremainlyrice,wheat,riceinthehusk,corn,sorghum,cookingoilandothervarietiesofgrainandoilaswellasthesalesoffinetea,beverageandcondiment.Accordingtothemarketconditionsandtheneedsofupstreamanddownstreamenterprises,theabove-mentionedgrainandoilproductspurchasedareindependentlytraded.Theunprocessedgrainsuchaswheat,riceinthehusk,corn,barleyandsorghumaremainlysupplytothecustomerssuchaslargetraders,feedandflourprocessingenterprisesintheindustry;therice,flour,edibleoil,fineteaandbeverageetc.aremainlysupplytotheenterprisesandinstitutions,foodenterprisesandcommunityresidentsetc.Foodprocessingandmanufacturingbusinessaremainlytheprocessingthetechnologyresearchinaspectofflour,rice,cookingoil,teaandnaturalplants,beverageandcondimentsetc.Thecompany'sflourbrandsandproductsinclude“Jinchangman”,“Yingshanhong”and“Hongli”seriesbreadflour;“Clivia”and“Canna”seriestailoredflourforcakesandsteamedbun;“Sunflower”high-glutentailoredflourandbiscuittailoredflour;“Feiyu”carameltreatstailoredflour;“Yuejixiang”mooncaketailoredflour.Riceproductsinclude“ShenliangDuoxi”,“Guzhixiang”,“Jinjiaxi”,“Runxiangliangpin”,“Hexiang”,“ShenliangYushuiqing”,etc.Cookingoilproductsincludebrandssuchas“ShenliangDuoxi”,“ShenliangFuxi”,“Hongli”and“ShenliangYushuiqing”,etc.ShenliangDuoxiChangxiangdaoDaohuaxiangRicewasselectedasthefirstbatchof“ChinaGoodGrainandOil”productsoftheNationalGrainAdministration,itsproductionandprocessingprocessconformstotherequirementsfortheevaluationofShenzhen-suppliedfood,anditisallowedtousetheShenzhenStandard·SZProductlogo.”ShenliangYushuiqing”hasformedaserialofspecialgrademilitarygrainsupply,militarydemandandcivilbrandsinrice,flour,oilandcoarsecereals.TeaproductsoftheCompanyincluding“GoldenEagle”instantteapowder,teaconcentrateandotherseriesofteaproducts;“Jufangyong”,“Gutan”,“Fuhaitang”seriesofteaproducts;condimentincludingthe“Tri-Well”oystersauce,chickenessenceandseafoodsauce;beverageincludes“Shenbao”chrysanthemumtea,lemontea,herbalteaandotherseriesofdrinks.Theleasingandbusinessservicereferstoprovidingtheprofessionalimport&exporttrade,warehousing&storage,logistic&distribution,qualityinspection&informationtechnologyservicesforallkindsofclientsintheupstreamanddownstreamoftheindustrialchain,byusingtheadvantageofbrand,reputation,experience,management,services,facilitiesandinformationsystemsthataccumulatedinfieldofgrainandoilmarket,aswell
asthepropertyleasing&management,commerceoperationmanagementservices.theconstructionandoperationforthenodeinShenliangDongguanGrainLogisticsarepromotedsteady.Aftertheprojectiscompleted,itwillbecomeacomprehensivegraincirculationserviceproviderintegratingfivefunctionsincludinggrainandoilterminal,transferreserve,inspectionandprocessing,processingindustry,andmarkettransaction.ThesubordinateShenliangQualityInspectionisidentifiedasthe“GuangdongShenzhenNationalGrainQualityMonitoringStation”.ThesubordinateShenliangCold-Chainprovidingacoldchainstorageanddistributionservicesforcustomers,andtheShenliangpropertyistheprofessionalassetsmanagementplatformenterprise.
II.Majorchangesinmainassets
1.Majorchangesinmainassets
| Majorassets | Noteofmajorchanges |
| Equityassets | NomajorChange |
| Fixedassets | ChangesinthePeriodmainlybecausethefoodprocessingprojectofShenliangDongguangrainlogisticsnodeswascompletedandputintooperation,whichwastransferredtofixedassetsfromconstructioninprogress,thenthefixedassetsincreasedoverthatofperiod-begin |
| Intangibleassets | NomajorChange |
| Constructioninprogress | ChangesinthePeriodmainlybecausetheprojectofShenliangDongguangrainlogisticsnodesandShuangyashangrainsourcebaseprojectareputintooperation;atthesametime,afterthefoodprocessingprojectofShenliangDongguangrainlogisticsnodescompletedandputintooperation,theconstructioninprogressdeclinedfortransferredtofixedassets |
2.Mainoverseasassets
□Applicable√Notapplicable
III.CoreCompetitivenessAnalysis
Thecompanyhaslarge-scalewarehouseresourcesinShenzhenandisthe"ricebag"trustedbythepublic.Duringthereportingperiod,thecompanyextendedandexpandedthedevelopmentofthegrain,oilandfoodindustrychainthroughresourceoptimizationandintegration,andtookthestrategicgoalofcreatinga“smartgrain,oilandfoodsupplychainserviceprovider”tofurtherstrengthenthecompany’scorecompetitiveadvantages.
1.ManagementEfficiencyAdvantageThecoremanagementteamofthecompanyhasrichexperience,andhasastrongstrategicvisionandpragmaticspirit.Ithasformedasetofeffectivesystemtopromotethehigh-qualitydevelopmentofthecompanyby
combiningwiththecompany’sactualdevelopment.Thecompanyvigorouslypromotestheinnovationandtransformationofbusinessmodels,andactivelypromotesthetransitionfrom“trade-orientedenterprises”to“service-orientedenterprises”,andfrom“operationalmanagementandcontrol”to“strategicmanagementandcontrol”.Inthebusinessmanagementandcontrol,thecompanybuildsa“four-in-one”managementandcontrolmodelthatthe“businessoperationsandfundmanagement,inventorymanagement,andqualitymanagement”relativelyseparateandcheckandbalanceeachother,atthesametime,itstrengthensriskmanagement,budgetmanagement,planmanagement,contractmanagement,customermanagementandbrandmanagementandothermeasurestoeffectivelypreventoperationalrisks.Throughinnovativetalentmanagement,thecompanyhasestablishedanopentalentteamtomeetthelong-termdevelopmentofenterprises.Thecompanyhasinnovatedandimplementedtheperformanceappraisalmechanismandestablishedaresult-orientedincentiveandrestraintassessmentmechanismwhicheffectivelybuilttheperformancecultureandstimulatedtheviabilitywithintheenterprise.Thecompanyinsistsoncultivatingandadvocatingthecorporateculturewith“people-oriented,performancefirst,excellentquality,andharmony”asthecorevalues,combinesthepersonaldevelopmentgoalsofemployeeswiththecorporatevision,andenhancesthecohesivenessandcentripetalforceoftheenterprise.
2.BusinessmodeladvantagesIntermsofbusinesslayoutandmanagement,thecompanyhasdeepenedandsubdivideditstargetmarkets,carriedoutspecializedoperationsindifferentareasofthegrainandoilfoodindustrychain,embracedtheInternet,andgraduallybuilta“trinity”ofmultilevelproductsupplynetworkofterminalgrain,oilandfoode-commercesales,cateringanddistributionservices,andbulkgrainandoiltradingservices.Intermsofterminalgrain,oilandfoode-commercesales,thecompanyactivelypromotedthedevelopmentofnewgrainretailformatssuchas“Internet+Grain”and“CommunityAutomaticSellingGrainSupplyCenters”.IthasalreadyhadtheB2CGrainandOilNetworkDirectSellingPlatform“Doximi.com”,andhasopenedon-linesaleschannelsonTmall,JingdongMallandothere-commerceplatformstopromotetheonlineandofflinedeepintegrationofe-commerceplatforms.Intermsofcateringanddistribution,thecompanyhassetupadistributionserviceplatformforpreparedfoodofgrain,oilandfoodmaterialsservingterminalcustomerssuchaschaincateringandcanteen.Intermsoffoodandoiltradingservices,thegrainbulkcommoditytradingplatform-”SZCHGrainTradingNetwork”,builtbytheCompanycaneffectivelyintegratetheflowofcommercial,logisticsandinformation,improvetheefficiencyofcirculation;andprovidesqualityservicessuchaspurchaseandsales,logistics,qualityinspectionandtransactioninformationtothebuyersandsuppliers,toimprovetheeconomicefficiency.
3.ResearchanddevelopmenttechnologyadvantagesThecompanyattachesgreatimportancetotransformingandupgradingthetraditionalindustriesbymoderntechnologies,andactivelyintroducesanewgenerationofinformationtechnologiessuchasinternetofthings,cloudcomputing,bigdataandmobileinternetintograinmanagement.Ittakestheleadinpromotingtheconstructionof“standardization,mechanization,informationizationandharmlessness”ofwarehousemanagementintheindustry,independentlydevelops“grainlogisticsinformationsystem”(ShenliangGLS),appliesRFIDtechnologyandslipsheetequipment,introducesintelligentrobots,andupgradesthegraindepotoperation
efficiencyandmanagementefficiency.Thecompanyhasundertakenanumberofnational-levelresearchprojects,andmultipleITprojectresultshavewonnational,provincialandmunicipalawards.Morethan30informationsystemshavebeendevelopedandrunnormally.Asofnow,thecompanyhas90patentsappliedandobtained,andowes23softwarecopyrights.
4.QualityadvantagesThecompanyhasestablishedaqualitycontrolsystemthathasbeenrecognizedbylargeinternationalfoodandbeverageenterprises.itgivesfullplaytotheadvantagesofproducts,channels,brands,warehousing,qualityinspection,etc.,andtrulyprovidesgoodqualityandsafetyproductsforthesociety.Inthegrainandoilbusiness,thecompany’ssubordinateenterprise,ShenliangQualityInspection,hastheleadinggrainqualitytestingtechnologyandequipmentinthedomesticgrainindustry,andhasbeenofficiallyincorporatedintothenationalgrainqualitysupervisionandtestingsystem,andhasbeenawardedthe“GuangdongShenzhenNationalGrainQualityMonitoringStation”bytheStateAdministrationofGrain.Andobtainedthequalificationcertificate(CMA)fortestingandinspectioninstitutions,anditisthefirstamongdomesticpeerstoincludepesticideresidues,heavymetalpollutants,mycotoxinsandotherhygienicindicatorsandtastevalueindicatorsindailytestingindicators,andhasthedetectionabilityoffourtypesofindicatorssuchasgrainregularquality,storagequality,hygieneandeatingquality,whichcanmeettherelevantqualityinspectionrequirementsofgrainandoilproducts,andcanaccuratelyanalyzethenutritionalingredientsandhygienicindexofgrainanddetermineitsstoragequalityandeatingquality.
SectionIV.DiscussionandAnalysisoftheOperation
I.Introduction
Duringthereportingperiod,thesuddennovelcoronavirusepidemicbroughtunprecedentedseverechallengestothecompany.Thecompanymadeeveryefforttopromotethestartofproduction,ensurethesupply,andcoordinatethepreventionandcontroloftheepidemicanditsoperationandmanagement.Inaccordancewiththeannualkeyworkandstrategicplanninggoals,thecompanytookthereorganizationandsubsequentintegrationandthereshapingofthecompany'sstrategyasthestartingpointandendpointofoperationandmanagement,andwellcompletedthesemi-annualgoalsandtasks.
1.MainbusinessdevelopmentDuringthereportingperiod,basedonitsownadvantagesandindustrialdevelopment,thecompanyusedinformationtechnologytobroadenproductsupplychannelsandtransactionmethods.Throughtheintegrationofresources,thecompanyenhancedthesynergisticeffectoftheindustrialchaintocreateanewpatterninthegrain,oilandfoodindustry.Thecompanycontinuedtofocusonthemainbusinessofgrainandoil,andachievedsteadydevelopmentinmainbusinessbyactivelyimprovingthesupplychain,extendingtheindustrialchain,upgradingthevaluechain,andcompletinggrainandoilsupplyserviceswithqualityandquantity.
2.KeyprojectsDuringthereportingperiod,thecompanyfocusedonthestrategyof“smartgrain,oilandfoodsupplychainqualityserviceproviders”andpromotedtheconstructionandoperationofgrainlogisticsnodesprojects,andachievedthestrategicgoalsforthefirsthalfoftheyear.ThegrainlogisticsandterminalsupportingprojectofSZCGDongguanGrainLogisticsNodeProject,theCDEwarehouseproject,thefooddeepprocessingprojectandthefirst-phaseterminalprojecthaveallbeenbasicallycompleted.TheNortheastGrainSourceBaseProjecthasacceleratedtheconstructionofthesecondphaseprojectoftheGrainSourceBase.The150,000-tonstoragemainprojectofthefirstphaseoftheNortheastGrainSourceBaseProjecthasbeenofficiallyputintouse.
3.ContinuousinnovationanddevelopmentThecompanyhasformedaninnovativeR&DsystemcenteredontheSZCGResearchInstitute,withthekeysupportsofSYDATA,FlourCompanyProductR&DCenter,DoximiQualityInspectionR&DDepartment,SZCGReserveBranchTechnologyCenter,andTeaProductandTechnologyR&DCenter.Uptonow,thecompanyhasappliedforandobtainedatotalof90patentsandowns23softwarecopyrights.Duringthereportingperiod,thecompanyensuredthesustainableandhealthydevelopmentofthecompanybyincreasingtheapplicationofinformatizationinnovationresultsandenhancingtheefficiencyofoperationand
management.
4.Otherkeytasks
(1)Duringthereportingperiod,continuetoimprovecorporategovernance.Inaccordancewiththenewregulatoryrequirementsandrelevantregulationsandprocedures,thecompanycompletedthecombinationandrevisionoftheinternalsystemsandfurtherenhancedthemanagementeffectivenessofthecompanythroughvariouseffectivemeasures.
(2)Duringthereportingperiod,thepreparationofthe"14thFive-Year"strategicplanwasinitiated.Onthe
premiseofconscientiouslyimplementingthegoalsandtasksofthe"13thFive-YearPlan",thecompanycombinedwithitsactualconditions,closelyfocusedonthe"dual-zonedrivingeffect",formulatedthecompany's"14thFive-YearPlan"workplan,andscientificallyproposedthedevelopmentgoals,workideas,andkeytasksof"14thFive-YearPlan"period.
(3)Duringthereportingperiod,thecompanycontinuedtolaunchnewproducts.Doximihasdevelopedahigh-qualityformularice"Black-facedSpoonbill";FlourCompanyhaslaunchedaseriesofspecialfloursfornewproductssuchasbread,steamedbreadandmooncakes.
(4)Duringthereportingperiod,thecompanyactivelyfulfilleditssocialresponsibilities.Thecompanyhelpedfighttheepidemicbydonating5.1millionyuantoHubei;implementedthepolicyofreducingrentsandfees,andreducingorexemptingrentstotalingmorethan16.5millionyuanfortenantswhomeettherequirements.
(5)Duringthereportingperiod,thecompanyimplementedthemainresponsibilityforproductionsafety.Resolutelyimplementedvarioussafetyrequirementsinplace,andachievedfive"0"sforproductionsafetyaccidents,foodsafetyaccidents,firesafetyaccidents,personalinjuryaccidents,andenvironmentalpollutionaccidents.Infirsthalfof2020,thecompanyachievedatotaloperatingincomeof4,740,428,200yuan,adecreaseof0.87%overthesameperiodofthepreviousyear;operatingprofitof218,523,000yuan,adecreaseof7.15%overthesameperiodofthepreviousyear;netprofitattributabletoshareholdersoflistedcompanieswas210,738,700yuan,anincreaseof3.73%fromayearearlier.II.Mainbusinessanalysis
Seethe“I-Introduction”in“DiscussionandAnalysisoftheOperation”Y-o-ychangesofmainfinancialdata
InRMB
| Currentperiod | Sameperiodoflastyear | Y-o-yincrease/decrease | Reasonsforchanges | |
| Operationrevenue | 4,740,428,222.10 | 4,782,167,732.69 | -0.87% | |
| Operationcost | 4,219,403,828.80 | 4,262,101,770.62 | -1.00% | |
| Salesexpenses | 109,796,698.11 | 112,553,742.74 | -2.45% | |
| Managementexpenses | 101,838,460.53 | 101,397,947.99 | 0.43% | |
| Financialexpenses | 6,155,212.61 | 8,519,731.85 | -27.75% | |
| Incometaxexpense | 2,465,268.63 | 15,485,294.03 | -84.08% | Mainlyduetothechangeofdeferredincometaxexpenses |
| R&Dinvestment | 7,368,772.68 | 4,211,474.91 | 74.97% | StrengthenR&Dandmoreinvestmentoccurred. |
| Netcashflowarisingfromoperationactivities | 9,610,361.15 | -389,429,629.75 | 102.47% | Infirsthalfoftheyear,receivedthegovernmentservicerevenueinadvance,thenetamountofoperationcashflowgrowthonay-o-ybasis |
| Netcashflowarisingfrominvestmentactivities | -70,334,070.80 | -140,751,694.07 | 50.03% | Mainlyduetothechangeofinvestmentinfinancialproducts,andtheamountforpurchasingfixedassetsaredeclinedfromayearearlier,thenthenetout-flowofcashfrominvestmentactivitiesdeclinedonay-o-ybasis |
| Netcashflowarisingfromfinancingactivities | 19,387,290.61 | 88,425,677.74 | -78.08% | Mainlybecausethecashdividenddistributedintheperiodhigherthanthatoflastperiod,andchangeofthebankborrowingsmakesthenetin-flowofcashfromfinancingactivitiesdeclinedonay-o-ybasis |
| Netincreaseofcashandcashequivalent | -41,317,771.47 | -441,723,854.29 | 90.65% | Mainlyduetothey-o-ychangeofcashflowfromoperationactivities |
Majorchangesonprofitcompositionorprofitresourcesinreportingperiod
□Applicable√NotapplicableNomajorchangesonprofitcompositionorprofitresourcesoccurredinreportingperiodConstituteofoperationincome
InRMB
| Currentperiod | Sameperiodlastyear | Increase/decreasey-o-y(+,-) | ||
| Amount | Ratioinoperationincome | Amount | Ratioinoperationincome | |
| Totaloperationincome | 4,740,428,222.10 | 100% | 4,782,167,732.69 | 100% | -0.87% |
| Accordingtoindustries | |||||
| Wholesaleandretail | 4,082,124,009.24 | 86.11% | 4,044,141,582.04 | 84.56% | 0.94% |
| Leasingandcommercialservices | 417,157,357.85 | 8.80% | 424,934,488.32 | 8.89% | -1.83% |
| Manufacturing | 241,146,855.01 | 5.09% | 313,091,662.33 | 6.55% | -22.98% |
| Accordingtoproducts | |||||
| Grainandoiltradingandprocessing | 4,229,578,137.45 | 89.22% | 4,192,557,805.77 | 87.68% | 0.88% |
| Grainandoilstorage,logisticsandservices | 377,567,473.64 | 7.96% | 370,753,088.68 | 7.75% | 1.84% |
| Food&beverageandteaprocessing | 93,692,726.80 | 1.98% | 164,675,438.60 | 3.44% | -43.10% |
| Leasingandothers | 39,589,884.21 | 0.84% | 54,181,399.64 | 1.13% | -26.93% |
| Accordingtoregion | |||||
| Domesticmarket | 4,721,086,070.54 | 99.59% | 4,759,541,751.29 | 99.53% | -0.81% |
| Exportation | 19,342,151.56 | 0.41% | 22,625,981.40 | 0.47% | -14.51% |
Abouttheindustries,products,orregionsaccountingforover10%oftheCompany’soperatingincomeoroperatingprofit
√Applicable□Notapplicable
InRMB
| Operatingincome | Operatingcost | Grossprofitratio | Increase/decreaseofoperatingincomey-o-y | Increase/decreaseofoperatingcosty-o-y | Increase/decreaseofgrossprofitratioy-o-y | |
| Accordingtoindustries | ||||||
| Wholesaleandretail | 4,082,124,009.24 | 3,887,968,979.28 | 4.76% | 0.94% | 0.20% | 0.70% |
| Accordingtoproducts | ||||||
| Grainandoiltradingandprocessing | 4,229,578,137.45 | 4,025,765,438.00 | 4.82% | 0.88% | 0.12% | 0.72% |
| Accordingtoregion | ||||||
| Domesticmarket | 4,721,086,070.54 | 4,203,620,880.07 | 10.96% | -0.81% | -1.01% | 0.09% |
Undercircumstancesofadjustmentinreportingperiodforstatisticscopeofmainbusinessdata,adjustedmainbusinessbasedonlatestoneyear’sscopeofperiod-end
□Applicable√NotapplicableReasonsfory-o-yrelevantdatawithover30%changes
□Applicable√Notapplicable
III.Analysisofthenon-mainbusiness
√Applicable□Notapplicable
InRMB
| Amount | Ratiointotalprofit | Causes | Whetherbesustainable | |
| Investmentincome | 10,249,064.30 | 4.77% | Unsustainable | |
| Gains/lossesoffairvaluevariation | -572,784.42 | -0.27% | Unsustainable | |
| Assetimpairment | -95,290,043.04 | -44.38% | Accrualofthereserveforfallingpricesofgoodsinstock.Whensellingthegoodswithfallingpricesaccrual,theactualcarryingforwardofthereserveswillbeusedtooffsetthecurrentcost | Unsustainable |
| Non-operatingincome | 1,358,799.58 | 0.63% | Unsustainable | |
| Non-operatingexpense | 5,186,666.30 | 2.42% | Unsustainable | |
| Creditimpairment | 1,791,966.35 | 0.83% | Unsustainable |
IV.Assetsandliability
1.Majorchangesofassetscomposition
InRMB
| Endofcurrentperiod | Endofperiodoflastyear | Ratiochanges | Notesofmajorchanges | ||
| Amount | Ratioin | Amount | Ratioin | ||
| totalassets | totalassets | |||||
| Monetaryfund | 113,636,986.38 | 1.62% | 189,914,485.39 | 2.95% | -1.33% | |
| Accountreceivable | 185,328,954.02 | 2.64% | 617,831,167.71 | 9.60% | -6.96% | Thegovernmentservicerevenueforthewholeyeararereceivedinadvanceintheperiod,receivablesdeclinedoverthatofperiod-begin,thantheratiointotalassetsdeclinedfromayearearlier |
| Inventory | 3,447,047,574.38 | 49.04% | 3,053,593,314.19 | 47.47% | 1.57% | |
| Investmentproperty | 261,371,418.35 | 3.72% | 278,173,249.83 | 4.32% | -0.60% | |
| Long-termequityinvestment | 71,565,377.48 | 1.02% | 73,362,651.19 | 1.14% | -0.12% | |
| Fixassets | 1,081,579,471.16 | 15.39% | 967,835,524.07 | 15.05% | 0.34% | ThefoodprocessingprojectofShenliangDongguangrainlogisticsnodeswascompletedandputintooperation,whichwastransferredtofixedassetsfromconstructioninprogress,thenthefixedassetsincreasedoverthatofperiod-begin,theratiointotalassetsincreasedfromayearearlier |
| Constructioninprocess | 749,918,300.15 | 10.67% | 403,629,287.82 | 6.27% | 4.40% | TheprojectofShenliangDongguangrainlogisticsnodesandShuangyashangrainsourcebaseprojectareputintooperationmakestheconstructioninprocessincreased,thentheratiointotalassetsincreasedfromayearearlier |
| Short-termloans | 271,271,250.10 | 3.86% | 30,590,000.00 | 0.48% | 3.38% |
| Long-term | 859,432,044.98 | 12.23% | 777,384,100.20 | 12.09% | 0.14% | Thebanklong-termborrowingsforShenliangDongguangrain |
| loans | logisticsnodesareincreasedatendofperiod,ratiointotalassetsincreasedonay-o-ybasis |
2.Assetsandliabilitymeasuredbyfairvalue
√Applicable□Notapplicable
InRMB
| Items | Openingamount | Changesoffairvaluegains/lossesinthisperiod | Accumulativechangesoffairvaluereckonedintoequity | Devaluationofwithdrawingintheperiod | Amountofpurchaseintheperiod | Amountofsaleintheperiod | Otherchanges | Endingamount |
| Financialassets | ||||||||
| 1.Tradingfinancialassets(excludingderivativefinancialassets) | 1,166,209.72 | -572,784.42 | 593,425.30 | |||||
| Othernon-currentfinancialassets | 57,500.00 | 57,500.00 | ||||||
| Aforementionedtotal | 1,223,709.72 | -572,784.42 | 650,925.30 | |||||
| Financialliabilities | 0.00 | 0.00 |
ContentofotherchangesWhethertherehavemajorchangesonmeasurementattributesformainassetsoftheCompanyinreportperiodornot
□Yes√No
3.Theassetsrightsrestrictedtillendoftheperiod
| Item | Endingbookvalue(RMB) | Reasonsforrestriction |
| Intangibleassets | 34,717,752.71 | AccordingtotheloancontractYueDG2017NGDZNo.006signedbyDongguanFoodIndustryParkandBankofCommunicationsCo.,Ltd.DongguanBranch,DongguanFoodIndustryParkmortgagedtwopiecesofland“DFGY(2009)DTNo.190”and“DFGY(2012)DTNo.152”toBankofCommunicationsCo.,Ltd.DongguanBranchascollateralfortheloan. |
| Intangibleassets | 36,189,251.93 | Accordingtothelong-termloanmortgagecontractsignedbyDongguanLogistics,asubsidiaryoftheCompany,andDongguanbranchof |
| AgriculturalDevelopmentBank,DongguanLogisticsmortgagedtheland“Yue(2016)DongguanRealEstatePropertyNo.0028527”ofJingang(S)Road,ZhangpengVillage,MachongTown,DongguanCitytoDongguanbranchofAgriculturalDevelopmentBankascollateralfortheloan. | ||
| Total | 70,907,004.64 |
V.InvestmentAnalysis
1.Overallsituation
√Applicable□Notapplicable
| Investmentinreportingperiod(Yuan) | Investmentinthesameperiodoflastyear(Yuan) | Changes(+,-) |
| 107,920,927.79 | 244,767,336.46 | -55.91% |
2.Themajorequityinvestmentobtainedinthereportingperiod
□Applicable√Notapplicable
3.Themajornon-equityinvestmentcarryinginthereportingperiod
√Applicable□Notapplicable
InRMB
| Item | Investmentways | Whetheritisthefixedassetsinvestment(Y/N) | Industrywiththeinvestmentinvolved | Amountinputintheperiod | Accumulatedactualinputasoftheendofreportingperiod | Capitalsources | Progress | Estimatedrevenue | Incomeaccumulatedatendofthereportingperiod | Reasonsforfailuretoachieveplannedprogressandexpectedbenefits | Disclosuredate(ifapplicable) | Disclosureindex(ifapplicable) |
| DongguanShenliangLogisticsCo.,Ltd.- | Self-build | Y | Storageandwharf | 15,017,763.15 | 383,149,414.35 | OwnedFundsand | 95.79% | Thewharfproject |
| Grainstorageandwharfcomplementaryengineering | BankLoans | startedproductionlaterthanexpected | ||||||||
| DongguanShenliangLogisticsCo.,Ltd.-Grainstorageandwharfcomplementaryengineering(PhaseII) | Self-build | Y | Storageandwharf | 0.00 | 179,679,302.57 | OwnedFundsandBankLoans | 100.00% | 46,800,000.00 | 27,473,192.06 | - |
| DongguanShenliangLogisticsCo.,Ltd.-Foodlogisticsandwharfmatchingproject | Self-build | Y | Warehouselogistic | 9,770,458.02 | 56,920,692.93 | OwnedFundsandBankLoans | 11.57% | Adjustmentofconstructionscheme | ||
| DongguanInternationalFoodIndustrialParkDevelopmentCo.,Ltd.-Warehouselogisticdistributioncenter | Self-build | Y | Warehouselogistic | 56,009,233.97 | 685,723,081.58 | OwnedFundsandBankLoans | 70.77% | Adjustmentofconstructionscheme | ||
| DongguanShenliangOil&FoodTradeCo., | Self-build | Y | Flourprocessing | 287,272.65 | 120,352,801.02 | OwnedFundsand | 41.22% | 3,900,000.00 | -8,162,637.00 | - |
| Ltd.-Foodprocessingproject | BankLoans | |||||||||||
| Landuseright | Self-build | N | Construction | 243,997,060.82 | OwnedFunds | - | ||||||
| Total | -- | -- | -- | 81,084,727.79 | 1,669,822,353.27 | -- | -- | 50,700,000.00 | 19,310,555.06 | -- | -- | -- |
4.Financialassetsmeasuredbyfairvalue
√Applicable□Notapplicable
InRMB
| Assetstype | Initialinvestmentcost | Gain/lossofchangesinfairvalue | Cumulativechangesoffairvaluereckonedinequity | AmountpurchasedinthePeriod | AmountsoldinthePeriod | Cumulativeinvestmentincome | Amountatperiod-end | CapitalSource |
| Stock | 0.00 | -572,784.42 | 0.00 | 0.00 | 0.00 | 0.00 | 593,425.30 | Debtrescheduledshares |
| Other | 57,500.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 57,500.00 | Thelegalperson’ssharespurchasedfromformerSTAQtradingsystem |
| Total | 57,500.00 | -572,784.42 | 0.00 | 0.00 | 0.00 | 0.00 | 650,925.30 | -- |
5.Financialassetsinvestment
(1)Securitiesinvestment
√Applicable□Notapplicable
| Varietyofsecurities | Codeofsecurities | Shortformofsecurities | Initialinvestmentcost | Accountingmeasurement | Bookvalueatthebeginningofthe | Gain/lossofchangesinfair | Cumulativechangesoffairvalue | AmountpurchasedinthePerio | AmountsoldinthePerio | ProfitandlossintheReporting | Bookvalueattheendoftheperiod | Accountingsubject | CapitalSource |
| model | period | value | reckonedinequity | d | d | Period | |||||||
| Domesticandoverseasstock | 000017 | CBC-A | 0.00 | Fairvaluemeasurements | 1,166,209.72 | -572,784.42 | 0.00 | 0.00 | 0.00 | -572,784.42 | 593,425.30 | Tradablefinancialassets | Debtrescheduledshares |
| Total | 0.00 | -- | 1,166,209.72 | -572,784.42 | 0.00 | 0.00 | 0.00 | -572,784.42 | 593,425.30 | -- | -- | ||
| DisclosuredateofsecuritiesinvestmentapprovaloftheBoard | Notapplicable | ||||||||||||
| DisclosuredateofsecuritiesinvestmentapprovaloftheShareholderMeeting(ifapplicable) | Notapplicable | ||||||||||||
(2)Derivativeinvestment
□Applicable√NotapplicableTheCompanyhasnoderivativesinvestmentinthePeriod
VI.Salesofmajorassetsandequity
1.Salesofmajorassets
□Applicable√NotapplicableTheCompanyhadnosalesofmajorassetsinthereportingperiod.
2.Salesofmajorequity
□Applicable√Notapplicable
VII.AnalysisofmainholdingCompanyandstock-jointlycompanies
√Applicable□NotapplicableParticularaboutmainsubsidiariesandstock-jointlycompaniesnetprofitover10%
InRMB
| Company | Type | Main | Register | Total | Netassets | Operating | Operatin | Netprofit |
| name | business | capital | assets | income | gprofit | |||
| ShenzhenCerealsGroupCo.,Ltd | Subsidiary | Grain&oiltradingprocessing,Grainandoilservice | 1,530,000,000.00 | 6,595,315,654.29 | 3,556,850,090.21 | 4,645,373,970.50 | 246,515,043.18 | 245,379,912.25 |
| ShenzhenHualianGrainandOilTradingCo.,Ltd. | Subsidiary | Grain&oiltrading | 31,180,000.00 | 1,160,190,600.16 | 193,934,337.86 | 1,552,436,650.25 | 39,164,893.82 | 38,988,713.46 |
| ShenzhenFlourCo.,Ltd | Subsidiary | Grain&oiltradingprocessing | 30,000,000.00 | 1,206,438,998.43 | 90,663,532.00 | 1,372,032,179.25 | 26,653,139.51 | 27,224,759.27 |
Particularaboutsubsidiariesobtainedordisposedinreportperiod
□Applicable√NotapplicableExplanationonmainholding/stock-jointlyenterprise:
ShenzhenCerealsGroupCo.,Ltd:Businessscope:generalbusinessitems-grainandoilpurchaseandsales,grainandoilstorageandsupplyofmilitarygrain;grainandoilandproductsmanagementandprocessing(operatedbybranches);operationandprocessingoffeed(operatedbyoutsourcing);investmentingrainandoil,feedlogisticsprojects;establishinggrainandoilandfeedtradingmarket(includinge-commercemarket)(marketlicenseisalsoavailable);storage(operatedbybranches);development,operationandmanagementoffreeproperty;providingmanagementservicesforhotels;investingandsettingupindustries(specificprojectsareseparatelydeclared);domestictrade;engaginginimportandexportbusiness;E-commerceandinformationconstruction;andgraincirculationservice.Licensedbusinessitems:thefollowingprojectsshallbeoperatedonlywiththerelevantexaminationandapprovaldocumentsiftheyareinvolvedinobtainingapproval:informationservices(internetinformationserviceonly);generalfreight,professionaltransport(refrigeratedpreservation).Registercapitalwas1,530,000,000.00Yuan.Endedasthisperiod,totalassetsamountedas6,595,315,654.29Yuan,andnetassetsamountingto3,556,850,090.21Yuan,shareholders’equityattributabletoparentCompanyis3,366,577,406.94Yuan;inthereportingperiod,achievedoperationincome,netprofitandnetprofitattributabletoshareholderofparentCompanyas4,645,373,970.50Yuan,245,379,912.25Yuanand243,572,209.91Yuanrespectively.ShenzhenHualianGrainandOilTradingCo.,Ltd.:Businessscope:generalbusinessitems:domestictrade(exceptforprojectsthatlaws,administrativeregulations,anddecisionsoftheStateCouncilrequireapprovalbeforeregistration);engaginginimportandexportbusiness(exceptforprojectsprohibitedbylaws,administrativeregulations,anddecisionoftheStateCouncil,restrictedprojectscanbeoperatedonlyafterobtainingpermission);onlinefeedsales;informationconsultation,self-ownedhousingleasing(excludingtalentagencyservicesandotherrestricteditems);internationalfreightforwarding,domesticfreightforwarding(canonlybeoperatedafterbeingapprovedbythetransportdepartmentiflaws,administrativeregulations,StateCouncildecisionrequiretheapprovaloftransportdepartment);Licensedbusinessitems:followingitemsshallbeoperatedonlywiththerelevantexaminationandapprovaldocumentsiftheyareinvolvedinobtainingapproval:purchaseandsaleofgrainandoil,onlinesalesofgrainandoil;informationservicebusiness(internetinformationservicebusinessonly).Registercapitalwas31,180,000.00Yuan.Endedasthisperiod,totalassetsamountedas1,160,190,600.16Yuan,andnetassetsamountingto193,934,337.86Yuan,shareholders’equityattributabletoparentCompanyis170,575,845.14Yuan;inthereportingperiod,achievedoperationincome,netprofitandnetprofit
attributabletoparentCompanyas1,552,436,650.25Yuan,38,988,713.46Yuanand39,080,493.87Yuanrespectively.ShenzhenFlourCo.,Ltd:businessscope:generalbusinessitems:hardwareandelectricalequipment,chemicalproducts(excludinghazardouschemicalsandrestricteditems),autoparts,purchaseandsalesofconstructionmaterials;self-operatedimportandexportbusiness(carryoutaccordingtotheprovisionsoftheregistrationcertificateSMGDZZNo.76);domestictrade(excludingfranchise,exclusivecontrol,monopolycommodities);wheatwholesaleandretail.Licensedbusinessitems:followingitemsshallbeoperatedonlywiththerelevantexaminationandapprovaldocumentsiftheyareinvolvedinobtainingapproval:flourprocessingandproduction.Registercapitalwas30,000,000.00Yuan.Endedasthisperiod,totalassetsamountedas1,206,438,998.43Yuan,andnetassetsamountingto90,663,532.00Yuan,shareholders’equityattributabletoparentCompanyis90,663,532.00Yuan;inthereportingperiod,achievedoperationincome,netprofitandnetprofitattributabletoparentCompanyas1,372,032,179.25Yuan,27,224,759.27Yuanand27,224,759.27Yuanrespectively.
VIII.StructuredvehiclecontrolledbytheCompany
□Applicable√NotapplicableIX.PredictionofbusinessperformancefromJanuary–September2020
Estimationonaccumulativenetprofitfromthebeginningoftheyeartotheendofnextreportperiodtobelossprobablyorthewarningofitsmaterialchangecomparedwiththecorrespondingperiodofthelastyearandexplanationonreason
□Applicable√NotapplicableX.RisksandcountermeasuresIn2020,thenovelcoronaviruspneumoniaepidemichasbeenspreadingworldwide,whichhasalreadycausedanimpactontheglobaleconomy,andinternationaltradeandindustrialsupplychainshavebeenaffected.Inresponsetopossiblemarketandbusinessrisks,ontheonehand,thecompanyhasmadeoverallplansfortheyear'sprocurement,andactivelyexpandedprocurementchannelstoensuresufficientgrainsupplyandorderlysupply.Ontheotherhand,thecompanyhascontinuedtostrengthencommunicationwithupstreamanddownstreamcustomersintheindustrychain,vigorouslyexpandsaleschannels,focusoncustomerneeds,deepenbrandandservice,enhancethecompany'sbrandvalueandcompetitiveness,andminimizetheimpactoftheepidemiconthecompany.
SectionV.ImportantEvents
I.AnnualGeneralMeetingandextraordinaryshareholdersgeneralmeetingheldinthisperiod
1.AGMintheperiod
| Sessions | Type | Investorparticipation(%) | Openingdate | Disclosuredate | Disclosureindex |
| TheFirstInterimShareholdersGeneralMeetingof2020 | InterimShareholdersGeneralMeeting | 72.05% | 2020-01-16 | 2020-01-17 | ResolutionNoticeofTheFirstInterimShareholdersGeneralMeetingof2020ofShenzhenCerealsHoldingsCo.,Ltd.(NoticeNo.:2020-01)releasedonJuchaowebsitedated17Jan.2020 |
| 2019Annualgeneralmeeting | Annualgeneralmeeting | 72.03% | 2020-05-19 | 2020-05-20 | ResolutionNoticeofAGM2019ofShenzhenCerealsHoldingsCo.,Ltd.(NoticeNo.:2020-15)releasedonJuchaowebsitedated20May2019 |
2.Requestforextraordinarygeneralmeetingbypreferredstockholderswhosevotingrightsrestore
□Applicable√NotapplicableII.ProfitdistributionplanandcapitalizingofcommonreservesplanforthePeriod
□Applicable√NotapplicableTheCompanyplansnottocarriedoutdistributionofcashdividend,bonussharesandshareconvertedfromcapitalreserveeitherforthehalfyearIII.CommitmentscompletedinPeriodandthosewithoutcompletedtillendofthePeriodfromactualcontroller,shareholders,relatedparties,purchaserandcompaniesetc.
□Applicable√NotapplicableTherearenocommitmentscompletedinPeriodandthosewithoutcompletedtillendofthePeriodfromactualcontroller,shareholders,relatedparties,purchaserandcompaniesetc.
IV.Appointmentandnon-reappointment(dismissal)ofCPA
Whetherthefinancialreporthasbeenauditedornot
□Yes√NoThefinancialreporthasnotbeenaudited
V.ExplanationfromBoardofDirectorsandSupervisoryCommitteefor“QualifiedOpinion”thatissuedbyCPA
□Applicable√Notapplicable
VI.ExplanationfromtheBODfor“QualifiedOpinion”oflastyear
□Applicable√NotapplicableVII.Bankruptcyreorganization
□Applicable√NotapplicableNobankruptcyreorganizationfortheCompanyinendofthisperiod
VIII.Lawsuits
Significantlawsuitsandarbitration
□Applicable√NotapplicableNosignificantlawsuitsandarbitrationoccurredinthereportingperiodOtherlawsuits
√Applicable□Notapplicable
| Lawsuits(arbitration) | Amountinvolved(in10thousandYuan) | Resultedanaccrualliability(Y/N) | Progress | Trialresultandinfluence | Executionofjudgment | Disclosuredate | Disclosureindex |
| Asofthesecondquarterof2020,thelitigationmattersmainlyincluding:Disputesoversalescontract,principal-agent | 7,675.24 | No,theeventisrelatedtoroutineoperationoftheCompanywithminoramount.Judgingfromtheprogressofthecase,relevantlitigationdonotconstitutea | Relevantlitigation-relatedmattersareexecutedbylegaldept.OftheCompanyandexternallawsfirms.Thematterswilllitigation | Judgingfromthelitigation,itdoesnothaveasignificantimpactontheCompany | Inprocessing | Notapplicable |
| contractdisputes,infringementdisputes,loancontractdisputesandsoon | significantimpactontheCompany | involvedarecarryoutthepromotionaccordingtorelevantprocesscurrently. |
IX.Mediaquestioning
□Applicable√NotapplicableDuringthereportingperiod,thecompanyhadnomediagenerallyquestionedmatters.
X.Penaltyandrectification
□Applicable√NotapplicableNopenaltyandrectificationfortheCompanyinreportingperiod.
XI.IntegrityoftheCompanyanditscontrollingshareholdersandactualcontrollers
□Applicable√NotapplicableXII.ImplementationoftheCompany’sstockincentiveplan,employeestockownershipplanorotheremployeeincentives
□Applicable√NotapplicableDuringthereportingperiod,theCompanyhasnostockincentiveplan,employeestockownershipplanorotheremployeeincentivesthathavenotbeenimplemented.XIII.Majorrelatedtransaction
1.Relatedtransactionwithroutineoperationconcerned
□Applicable√NotapplicableNorelatedtransactionoccurredintheperiodwithroutineoperationconcerned
2.Assetsorequityacquisition,andsalesofassetsandequity
□Applicable√NotapplicableNorelatedtransactionconcerningtheassesorequityacquisitionandsoldatperiod
3.Relatedtransactionofforeigninvestment
□Applicable√Notapplicable
Norelatedtransactionofforeigninvestmentoccurredatperiod
4.Relatedcreditsandliabilities
□Applicable√NotapplicableNorelatedcreditsandliabilitiesoccurredinperiod
5.Othermajorrelatedtransaction
□Applicable√NotapplicableNoothermajorrelatedtransactioninthePeriodXIV.Non-operationalfundoccupationfromcontrollingshareholdersanditsrelatedparty
□Applicable√NotapplicableNonon-operationalfundoccupationfromcontrollingshareholdersanditsrelatedpartyinperiod.
XV.Significantcontractandimplementations
1.Trusteeship,contractandleasing
(1)Trusteeship
□Applicable√NotapplicableNotrusteeshipfortheCompanyinreportingperiod
(2)Contract
□Applicable√NotapplicableNocontractfortheCompanyinreportingperiod
(3)Leasing
□Applicable√NotapplicableNoleasinginthePeriod
2.MajorGuarantee
√Applicable□Notapplicable
(1)Guarantee
In10thousandYuan
| Thecompanyanditssubsidiaries'externalguarantees(notincludingguaranteestosubsidiaries) | ||||||||
| NameoftheCompanyguaranteed | RelatedAnnouncementdisclosuredate | Guaranteelimit | Actualdateofhappening | Actualguaranteelimit | Guaranteetype | Guaranteeterm | Completeimplementationornot | Guaranteeforrelatedparty |
| GuaranteebetweentheCompanyandsubsidiary | ||||||||
| NameoftheCompanyguaranteed | RelatedAnnouncementdisclosuredate | Guaranteelimit | Actualdateofhappening | Actualguaranteelimit | Guaranteetype | Guaranteeterm | Completeimplementationornot | Guaranteeforrelatedparty |
| Guaranteebetweenthesubsidiaries | ||||||||
| NameoftheCompanyguaranteed | RelatedAnnouncementdisclosuredate | Guaranteelimit | Actualdateofhappening | Actualguaranteelimit | Guaranteetype | Guaranteeterm | Completeimplementationornot | Guaranteeforrelatedparty |
| DongguanShenliangLogisticsCo.,Ltd. | 27,300 | 2015-07-13 | 19,083 | 8-year | N | Y | ||
| DongguanShenliangLogisticsCo.,Ltd. | 10,200 | 2016-12-21 | 4,052 | 5-year | N | Y | ||
| DongguanInternationalFoodIndustrialParkDevelopmentCo.,Ltd. | 39,168 | 2018-07-27 | 27,213 | 14-year | N | Y | ||
| DongguanShenliangLogisticsCo.,Ltd. | 21,930 | 2019-01-25 | 1,721 | 12-year | N | Y | ||
| DongguanShenliangOil&FoodTradeCo., | 11,883 | 2019-04-19 | 4,775 | 8-year | N | Y | ||
| Ltd. | |||||
| Totalamountofapprovingguaranteeforsubsidiariesinreportperiod(C1) | 0 | Totalamountofactualoccurredguaranteeforsubsidiariesinreportperiod(C2) | 1,423 | ||
| Totalamountofapprovedguaranteeforsubsidiariesattheendofreportingperiod(C3) | 110,481 | Totalbalanceofactualguaranteeforsubsidiariesattheendofreportingperiod(C4) | 56,844 | ||
| TotalamountofguaranteeoftheCompany(totalofthreeabovementionedguarantee) | |||||
| Totalamountofapprovingguaranteeinreportperiod(A1+B1+C1) | 0 | Totalamountofactualoccurredguaranteeinreportperiod(A2+B2+C3) | 1,423 | ||
| Totalamountofapprovedguaranteeattheendofreportperiod(A3+B3+C2) | 110,481 | Totalbalanceofactualguaranteeattheendofreportperiod(A4+B4+C4) | 56,844 | ||
| TheproportionofthetotalamountofactuallyguaranteeinthenetassetsoftheCompany(thatisA4+B4+C4) | 12.92% | ||||
| Including: | |||||
| Amountofguaranteeforshareholders,actualcontrolleranditsrelatedparties(D) | 0 | ||||
| Thedebtsguaranteeamountprovidedfortheguaranteedpartieswhoseassets-liabilityratioexceed70%directlyorindirectly(E) | 39,168 | ||||
| ProportionoftotalamountofguaranteeinnetassetsoftheCompanyexceed50%(F) | 0 | ||||
| Totalamountoftheaforesaidthreeguarantees(D+E+F) | 39,168 | ||||
Explanationoncompoundguarantee
(2)Illegalexternalguarantee
□Applicable√NotapplicableNoillegalexternalguaranteeintheperiod
3.Trustfinancing
√Applicable□Notapplicable
In10thousandYuan
| Type | Capitalsources | Amountoccurred | Outstandingbalance | Overdueamount |
| Bankfinancialproducts | Ownfunds | 92,500 | 31,000 | 0 |
| Total | 92,500 | 31,000 | 0 |
Detailsofthesinglemajoramount,orhigh-risktrustinvestmentwithlowsecurity,poorfluidityandnon-guaranteed
□Applicable√Notapplicable
Entrustfinancialexpectedtobeunabletorecovertheprincipalorimpairmentmightbeoccurred
□Applicable√Notapplicable
4.Othermaterialcontracts
□Applicable√NotapplicableNoothermaterialcontractsintheperiod.
XVI.Socialresponsibility
1.Majorenvironmentprotection
ThelistedCompanyanditssubsidiarywhetherbelongtothekeysewageunitsreleasedfromenvironmentalprotectiondepartmentNoThecompanyanditssubsidiariesdonotbelongtothekeypollutantdischargeunitsannouncedbytheenvironmentalprotectiondepartment.
2.Executionofsocialresponsibilityoftargetedpovertyalleviation
(1)Planoftargetedpovertyalleviation2020istheendingyearofdecisivebattletoovercomepovertyandwinacomprehensivewell-off,ShenzhenCerealsHoldingscontinuestousethesocialismwithChinesecharacteristicsofXiJinpingneweraofasaguide,inaccordancewithspiritofthedocumentof“ImplementationOpinionsontheThree-YearPlanforPovertyAlleviationintheNewPeriod(Yuefa[2016]No.13)”oftheGuangdongProvincialPartyCommitteeandtheProvincialGovernment,andcarriedoutthetargetpovertyalleviationandreliefworkforGuilinVillage,YiduTown,LongchuangCounty,HeyuanCity.TheoverallgoalandtaskofGuilinVillage'stargetedpovertyalleviationin2020isto:consolidatedtoensurethat52householdswith142peoplewhohavebeenliftedoutofpovertyhave"twonoworriesandthreeguarantees",improvedthelivingenvironment,increasedtheincomeofpoorfamilies,andraisedthelivablehappinessindex.In2020,underthecorrectleadershipofthePartyCommitteeofSZCH,thevillage-resident-teamofSZCHhasimplementeddetailedepidemicpreventionandcontrolwork,andcarriedoutpovertyalleviationtasksinanorderlymanner,andtakenmultiplemeasurestoopenupincomechannelsforpoorhouseholdstoconsolidateandimprovepovertyalleviationachievements,andensurethatthefightagainsttheepidemicandthepooraregraspedwithbothhandsandbotharenotmissed,andwinacomprehensivevictoryinthefightagainstpovertywiththefirstdemonstrationstandard.
(2)Summaryofsemi-annualtargetedpovertyalleviation
Inthefirsthalfof2020,ShenzhenCerealsHoldingsinvested428,700yuaninpovertyalleviationfunds(notincludingconsolationmoneyandgoodsandmaterials),andtheintroductionofspecialpovertyalleviationfundsof380,000yuanfromthedeepriverheadquarters.ThefundsaremainlyusedfortheconstructionofpublicservicefacilitiesinGuilinVillage,improvingtheruralliving
environment,andincreasingtheincomeofthevillagecollectiveandthepoor.Performanceandaideffectiveness:Firstly,solidlypromotedconsumptionpovertyalleviationactivities.Tookconsumptionpovertyalleviationactionsasthestartingpoint,organizedandmobilizedallpartiesinthesocietytoactivelyparticipateinconsumptionpovertyalleviation.PopularizedandpromotedthepovertyalleviationproductGuilinTeathroughthe"ZhenPovertyAlleviation"onlinee-commerceplatformandofflinechannels,andjointlylaunchedthe"FirstSecretaryEndorsement"activitywithlocalTVstationstoestablishthebrandimageof"GuilinTea",enhancedthebrandawarenessofpovertyalleviationproducts,andexpandedtheteasalesforpoorhouseholds.Secondly,consolidatedthe"company+cooperative+farmer+base"industrialassistancemodeltoensurethatpoorhouseholdsincreaseproductionandincome.Introducedaspecialpovertyalleviationfundof380,000yuantoinvestinNanyuewangCompany,aleadinglocalteacompany,anddistributeddividendsof38,000yuaneachyeartoincreasetheincomeofthevillagecollectiveandpoorhouseholds.Thirdly,intermsofmedicaleducation,ensuredthattheeconomicallydisadvantagedvillagersofGuilinVillageparticipatedinthenewruralcooperativemedicalinsurance,providedsubsidiesformajorillnessesofpoorhouseholdsandorganizedfund-raisingtotaling32,000yuantoreducetheburdenoftreatmentforpoorhouseholdsandpreventtheirreturntopovertyduetoillness.Fourthly,strengthenedteachingaidactivitiesandpurchasedschoolsuppliesforstudentsinGuilinprimaryschool.Fifthly,intermsofpublicservicefacilitiesandinfrastructure,380,000yuanwasinvestedtopurchaseofficeequipmentinthenewly-builtvillagerservicecenterandtobuildawaterpurificationpondtoensuresafedrinkingwaterforvillagers.
(3)Performanceoftargetedpovertyalleviation
| Target | Measurementunit | Numbers/implementation |
| i.Overall | —— | —— |
| Including:1.fund | 10thousandyuan | 42.87 |
| 2.Materialdiscount | 10thousandyuan | 8.66 |
| 3.numberofpoverty-strickenpopulationseliminatingpovertywithcardforarchivesestablished | Person | 142 |
| ii.Investedbyspecificproject | —— | —— |
| 1.Industrialdevelopmentpoverty | —— | —— |
| Including:1.1Type | —— | Other |
| 1.2numbersofindustrialdevelopmentpoverty | Number | 0 |
| 1.3Amountinput | 10thousandyuan | 0 |
| 1.4numberofpoverty-strickenpopulationeliminatingpovertywithcardforarchivesestablished | Person | 0 |
| 2.Transferemployment | —— | —— |
| Including:2.1Amountinputforvocationskillstraining | 10thousandyuan | 0 |
| 2.2Numberofvocationskillstraining | Person-time | 0 |
| 2.3Numberofpoverty-strickenpopulationsachievingemploymentwithcardforarchivesestablished | Person | 0 |
| 3.Relocationthepoor | —— | —— |
| Including:3.1Numberofemployedpersonsfromrelocatedhouseholds | Person | 0 |
| 4.Educationpoverty | —— | —— |
| Including:4.1Amountinputforsubsidizingtheimpoverishedstudents | 10thousandyuan | 0 |
| 4.2Numberofsubsidizedpoorstudents | Person | 0 |
| 4.3Amountinputforimprovingtheeducationresourcesinpoverty-strickenareas | 10thousandyuan | 0.42 |
| 5.Healthpovertyalleviation | —— | —— |
| Including:5.1Amountinputformedicalandhealthresourcesinpoverty-strickenareas | 10thousandyuan | 0.3 |
| 6.Ecologicalprotectionandpovertyalleviation | —— | —— |
| Including:6.1Type | —— | Carryoutecologicalprotectionandconstruction |
| 6.2Amountinput | 10thousandyuan | 1.08 |
| 7.Fallbackprotection | —— | —— |
| Including:7.1AmountinputforThreeStayBehindpersons | 10thousandyuan | 0 |
| 7.2NumberofThreeStayBehindpersonshelp | Person | 0 |
| 7.3Amountinputforpoordisabledpersons | 10thousandyuan | 0 |
| 7.4Numberofpoordisabledpersonshelp | Person | 0 |
| 8.Socialpovertyalleviation | —— | —— |
| Including:8.1AmountofthepovertyalleviationcooperationbetweentheEasternandWesternregions | 10thousandyuan | 0 |
| 8.2Amountfortargetedpovertyalleviation | 10thousandyuan | 0 |
| 8.3Amountforthepovertyalleviationpublicwelfarefund | 10thousandyuan | 0 |
| 9.Other | —— | —— |
| Including:9.1.numberofitems | Number | 4 |
| 9.2.Amountinput | 10thousandyuan | 41.07 |
| 9.3.numberofpoverty-strickenpopulationseliminatingpovertywithcardforarchivesestablished | Person | 142 |
| iii.Awards(contentandgrade) | —— | —— |
(4)Follow-upoftargetedpovertyalleviation
2020isthefinalyearofthefightagainstpoverty.SZCHwillcontinuetofollowXiJinping’sneweraofsocialismwithChinesecharacteristicsastheguidingideology,implementthelatestpovertyalleviationpoliciesofgovernmentsatalllevels,strictlyfollowtherequirements,dovariouspovertyalleviationwork,andscientificallyplananddeploytopromoteindustrialdevelopment,improvethelivingenvironment,increasetheeconomicincomeofthepoor,andconsolidatetheeffectofpovertyalleviation.Thefirstistoconsolidateandimplementthe"twonoworries,threeguarantees"policy,paycloseattentiontothesituationofpoorhouseholds,andpreventreturntopovertyduetoillness;thesecondistotakeinnovationmeasurestopromoteconsumptionpovertyalleviation,exploreandexpandvarioussaleschannelstohelpsellGuilintea;thethirdistocontinuetoinvestinteaindustryprojects,implementthedividendsoftheinvestedindustryprojects,increaseincomeforvillagecollectivesandpoorhouseholds,andconsolidateresults;thefourthistoinvestininfrastructureconstructionandlivingenvironmentimprovementprojects,repairvillage-levelroadsandconstructsewageoutfallstoimprovethequalityofhumanliving;thefifthistohelpGuilintealeavethevillageandenterthecity,enhancebrandawarenessandpromotelocalteaindustrydevelopmentthroughmediapromotionandexhibitionpromotion;thesixthistodoagoodjoboflinking"precisepovertyalleviation"and"ruralrevitalization"inanall-roundway,andimplementtheresultsofassistance.
XVII.Othermajorevents
√Applicable□Notapplicable
1.Changesofdirectors,supervisorsandseniorexecutive
(1)ThecompanyheldtheeighthsessionofthetenthboardofdirectorsonFebruary28,2020,whichreviewedandapprovedthe"ProposalonAppointmentoftheCompany'sDeputyGeneralManager"andagreedtoappointMr.XiaoHuiasthecompany'sdeputygeneralmanager,withtermofofficefromthedateofapprovaloftheboardmeetingtotheexpirationofthecompany'stenthboardofdirectors.Fordetails,pleaserefertothe"AnnouncementonResolutionsoftheEighthSessionoftheCompany'sTenthBoardofDirectors"and"AnnouncementontheAppointmentofDeputyGeneralManagersoftheCompany"publishedonwww.cninfo.com.cnonFebruary29,2020..
(2)ThecompanyreceivedwrittenresignationreportsfromtheDeputyGeneralManagerMr.CaoXuelinandtheBoardSecretaryMr.DuJianguoonJune18,2020.Duetojobtransfer,Mr.CaoXuelinappliedforresignationfromthepositionofdeputygeneralmanagerandMr.DuJianguoappliedforresignationfromthesecretaryofthecompany'sboardofdirectors.Fordetails,pleaserefertothe"AnnouncementontheResignationofSeniorExecutivesoftheCompany"publishedonwww.cninfo.com.cnonJune19,2020.
XVIII.SignificanteventofsubsidiaryoftheCompany
□Applicable√Notapplicable
SectionVI.ChangesinSharesandParticularsaboutShareholders
I.ChangesinShares
1.Changesinshares
InShare
| BeforetheChange | Increase/DecreaseintheChange(+,-) | AftertheChange | |||||||
| Amount | Proportion | Newsharesissued | Bonusshares | Capitalizationofpublicreserve | Others | Subtotal | Amount | Proportion | |
| I.Restrictedshares | 684,569,567 | 59.40% | 0 | 0 | 0 | 31,575 | 31,575 | 684,601,142 | 59.40% |
| 1.State-ownedshares | 0 | 0.00% | 0 | 0 | 0 | 0 | 0 | 0 | 0.00% |
| 2.State-ownedcorporateshares | 684,569,567 | 59.40% | 0 | 0 | 0 | 0 | 0 | 684,569,567 | 59.40% |
| 3.Otherdomesticshares | 0 | 0.00% | 0 | 0 | 0 | 31,575 | 31,575 | 31,575 | 0.00% |
| Including:Domesticlegalperson’sshares | 0 | 0.00% | 0 | 0 | 0 | 0 | 0 | 0 | 0.00% |
| Domesticnatureperson’sshares | 0 | 0.00% | 0 | 0 | 0 | 31,575 | 31,575 | 31,575 | 0.00% |
| 4.Foreignshares | 0 | 0.00% | 0 | 0 | 0 | 0 | 0 | 0 | 0.00% |
| Including:Foreigncorporateshares | 0 | 0.00% | 0 | 0 | 0 | 0 | 0 | 0 | 0.00% |
| Overseasnatureperson’sshare | 0 | 0.00% | 0 | 0 | 0 | 0 | 0 | 0 | 0.00% |
| II.Un-restrictedshares | 467,965,687 | 40.60% | 0 | 0 | 0 | -31,575 | -31,575 | 467,934,112 | 40.60% |
| 1.RMBcommonshares | 416,216,407 | 36.11% | 0 | 0 | 0 | -31,575 | -31,575 | 416,184,832 | 36.11% |
| 2.Domesticallylistedforeignshares | 51,749,280 | 4.49% | 0 | 0 | 0 | 0 | 0 | 51,749,280 | 4.49% |
| 3.Foreignlistedforeignshares | 0 | 0.00% | 0 | 0 | 0 | 0 | 0 | 0 | 0.00% |
| 4.Other | 0 | 0.00% | 0 | 0 | 0 | 0 | 0 | 0 | 0.00% |
| III.Totalshares | 1,152,535,254 | 100.00% | 0 | 0 | 0 | 0 | 0 | 1,152,535,254 | 100.00% |
Reasonsforsharechanged
□Applicable√NotapplicableApprovalofsharechanged
□Applicable√NotapplicableOwnershiptransferofsharechanged
□Applicable√NotapplicableProgressofsharesbuy-back
□Applicable√NotapplicableImplementationprogressofthereductionofrepurchasessharesbycentralizedbidding
□Applicable√NotapplicableInfluenceonthebasicEPSanddilutedEPSaswellasotherfinancialindexesofnetassetspershareattributabletocommonshareholdersofCompanyinlatestyearandperiod
□Applicable√NotapplicableOtherinformationnecessarytodiscloseorneedtodisclosedunderrequirementfromsecurityregulators
□Applicable√Notapplicable
2.Changesofrestrictedshares
√Applicable□Notapplicable
InShare
| Shareholders’name | NumberofsharesrestrictedatPeriod-begin | NumberofsharesreleasedintheYear | NumberofnewsharesrestrictedintheYear | NumberofsharesrestrictedatPeriod-end | Restrictionreasons | Releaseddate |
| YeQingyun | 0 | 0 | 31,575 | 31,575 | Executiveslock-instocks | - |
| Total | 0 | 0 | 31,575 | 31,575 | -- | -- |
II.Securitiesissuanceandlisting
□Applicable√Notapplicable
III.Amountofshareholdersandparticularsaboutsharesholding
InShare
| Totalcommonstockshareholdersinreportingperiod-end | 63,329 | Totalpreferenceshareholderswithvotingrightsrecoveredatendofreportingperiod(ifapplicable)(foundinnote8) | 0 | ||||||
| Particularsaboutsharesheldabove5%bycommonshareholdersortoptencommonshareholders | |||||||||
| FullnameofShareholders | Natureofshareholder | Proportionofsharesheld | Totalcommonsharesholdattheendofreportperiod | Changesinreportperiod | Amountofrestrictedcommonsharesheld | Amountofun-restrictedcommonsharesheld | Numberofsharepledged/frozen | ||
| State | Amount | ||||||||
| ofshare | |||||||||
| ShenzhenFoodGroupCo.,Ltd. | State-ownedlegalperson | 63.79% | 735,237,253 | 0 | 669,184,735 | 66,052,518 | |||
| ShenzhenAgriculturalProductsGroupCo.,Ltd | State-ownedlegalperson | 8.23% | 94,832,294 | 0 | 15,384,832 | 79,447,462 | |||
| HongKongSecuritiesClearingCompanyLimited | Foreignlegalperson | 0.53% | 6,057,114 | 5,200,188 | 0 | 6,057,114 | |||
| LinJunbo | Domesticnatureperson | 0.30% | 3,500,000 | 1,015,550 | 0 | 3,500,000 | |||
| ShanghaiRuitingAssetManagementCo.,Ltd.-ShanghaiRuitingBetterLifeNo.2PrivateEquityInvestmentFund | Other | 0.30% | 3,442,929 | 3,442,929 | 0 | 3,442,929 | |||
| SunHuiming | Domesticnatureperson | 0.30% | 3,436,462 | 0 | 0 | 3,436,462 | |||
| GaoLizhi | Domesticnatureperson | 0.19% | 2,204,400 | 2,204,400 | 0 | 2,204,400 | |||
| HuXiangzhu | Domesticnatureperson | 0.18% | 2,079,000 | -721,000 | 0 | 2,079,000 | |||
| CentralHuijinAssetManagementCo.,Ltd. | State-ownedlegalperson | 0.13% | 1,472,625 | 0 | 0 | 1,472,625 | |||
| ZhangJianmin | Domesticnatureperson | 0.11% | 1,272,039 | 1,272,039 | 0 | 1,272,039 | |||
| Strategyinvestorsorgeneralcorporationcomestop10commonshareholdersduetorightsissue(ifapplicable)(seenote3) | N/A | ||||||||
| Explanationonassociatedrelationshipamongtheaforesaidshareholders | ShenzhenSASACdirectlyholds100%equityofFudeCapital,andholds34%ofAgriculturalProductsindirectlythroughFudeCapital;theCompanywasnotawareofanyrelatedrelationshipbetweenothershareholdersabove,andwhethertheybelongedtopartiesactinginconcertasdefinedbytheAcquisitionManagementMethodofListedCompany. | ||||||||
| Particularabouttoptencommonshareholderswithun-restrictsharesheld | |||||||||
| Shareholders’name | Amountofun-restrictcommonsharesheldat | Typeofshares | |||||||
| Period-end | Type | Amount | |
| ShenzhenAgriculturalProductsGroupCo.,Ltd | 79,447,462 | RMBcommonshares | 79,447,462 |
| ShenzhenFoodGroupCo.,Ltd. | 66,052,518 | RMBcommonshares | 66,052,518 |
| HongKongSecuritiesClearingCompanyLimited | 6,057,114 | RMBcommonshares | 6,057,114 |
| LinJunbo | 3,500,000 | RMBcommonshares | 3,500,000 |
| ShanghaiRuitingAssetManagementCo.,Ltd.-ShanghaiRuitingBetterLifeNo.2PrivateEquityInvestmentFund | 3,442,929 | RMBcommonshares | 3,442,929 |
| SunHuiming | 3,436,462 | Domesticallylistedforeignshares | 3,436,462 |
| GaoLizhi | 2,204,400 | RMBcommonshares | 2,204,400 |
| HuXiangzhu | 2,079,000 | RMBcommonshares | 2,079,000 |
| CentralHuijinAssetManagementCo.,Ltd. | 1,472,625 | RMBcommonshares | 1,472,625 |
| ZhangJianmin | 1,272,039 | RMBcommonshares | 1,272,039 |
| Expiationonassociatedrelationshiporconsistentactorswithinthetop10un-restrictshareholdersandbetweentop10un-restrictshareholdersandtop10shareholders | ShenzhenSASACdirectlyholds100%equityofFudeCapital,andholds34%ofAgriculturalProductsindirectlythroughFudeCapital;theCompanywasnotawareofanyrelatedrelationshipbetweenothershareholdersabove,andwhethertheybelongedtopartiesactinginconcertasdefinedbytheAcquisitionManagementMethodofListedCompany. | ||
| Explanationontop10shareholdersinvolvingmarginbusiness(ifapplicable)(seenote4) | 1.Shareholder-ShanghaiRuitingAssetManagementCo.,Ltd.-ShanghaiRuitingBetterLifeNo.2PrivateEquityInvestmentFundholds3,442,929sharesoftheCompanyundercustomercredittradingsecuredsecuritiesaccountthroughEverbrightSecuritiesCo.,Ltd.,commonaccountholds0shares,and3,442,929sharesareheldintotalatendofthePeriod.Duringthereportingperiod,thecredittradingsecuredsecuritiesaccounthas3,442,929sharesincreased,andnochangeinthecommonaccount,sharesheldareincreased3,442,929sharesintotal.2.ShareholderZhangJianminholds1,272,039sharesoftheCompanyundercustomercredittradingsecuredsecuritiesaccountthroughChinaGalaxySecuritiesCo.,Ltd.,commonaccountholds0shares,and1,272,039sharesareheldbyZhangintotalatendofthePeriod.Duringthereportingperiod,thecredittradingsecuredsecuritiesaccounthas1,272,039sharesincreased,andnochangeinthecommon | ||
Whethertoptencommonstockshareholdersortoptencommonstockshareholderswithun-restrictsharesheldhaveabuy-backagreementdealinginreportingperiod
□Yes√NoThetoptencommonstockshareholdersortoptencommonstockshareholderswithun-restrictsharesheldoftheCompanyhavenobuy-backagreementdealinginreportingperiod.IV.Changeofcontrollingshareholderoractualcontroller
Changeofcontrollingshareholdersduringthereportingperiod
□Applicable√NotapplicableTheCompanyhadnochangesofcontrollingshareholdersinreportingperiodChangesofactualcontrollerinreportingperiod
□Applicable√NotapplicableTheCompanyhadnochangesofactualcontrollerinreportingperiod
SectionVII.PreferredStock
□Applicable√NotapplicableTheCompanyhadnopreferredstockinthePeriod.
SectionVIII.ConvertibleBonds
□Applicable√NotapplicableTheCompanyhadnoconvertiblebondsinthePeriod.
SectionIX.ParticularsaboutDirectors,SupervisorandSenior
Executives
I.Changesofsharesheldbydirectors,supervisorsandseniorexecutives
□Applicable√NotapplicableNochangeofsharesheldbydirectors,supervisorsandseniorexecutives,foundmoredetailsinAnnualReport2019.
II.Changesofdirectors,supervisorsandseniorexecutives
√Applicable□Notapplicable
| Name | Position | Type | Date | Causes |
| XiaoHui | DeputyGM | Appointment | 2020-02-28 | AppointmentoftheBoardofDirectors |
| CaoXuelin | DeputyGM | Dismiss | 2020-06-18 | Jobtransfer |
| DuJianguo | SecretaryoftheBoard | Dismiss | 2020-06-18 | Jobtransfer |
SectionX.CorporateBonds
WhethertheCompanyhasacorporationbondsthatissuancepubliclyandlistedonstockexchangeandwithoutdueonthedatewhensemi-annualreportapprovedforreleasedorfailtocashinfullondueNo
SectionXI.FinancialReportI.AuditreportsWhetherthesemi-annualreportwasauditedornot
□Yes√NoThefinancialreportofthissemi-annualreportwasunaudited
II.FinancialstatementsUnitsinNotesofFinancialStatementsisRMB
1.ConsolidatedBalanceSheet
PreparedbySHENZHENCEREALSHOLDINGSCO.,LTD.
2020-06-30
InRMB
| Item | 2020-6-30 | 2019-12-31 |
| Currentassets: | ||
| Monetaryfunds | 113,636,986.38 | 154,954,757.85 |
| Settlementprovisions | ||
| Capitallent | ||
| Tradablefinancialassets | 593,425.30 | 1,166,209.72 |
| Derivativefinancialassets | ||
| Notereceivable | 642,379.62 | 1,909,720.38 |
| Accountreceivable | 185,328,954.02 | 338,687,766.68 |
| Receivablefinancing | ||
| Accountspaidinadvance | 33,657,139.19 | 9,202,930.71 |
| Insurancereceivable | ||
| Reinsurancereceivables | ||
| Contractreserveofreinsurancereceivable | ||
| Otheraccountreceivable | 28,304,818.99 | 25,758,695.07 |
| Including:Interestreceivable | ||
| Dividendreceivable |
| Buyingbackthesaleoffinancialassets | ||
| Inventories | 3,447,047,574.38 | 3,064,701,212.14 |
| Contractualassets | ||
| Assetsheldforsale | ||
| Non-currentassetduewithinoneyear | ||
| Othercurrentassets | 406,438,818.52 | 468,174,380.40 |
| Totalcurrentassets | 4,215,650,096.40 | 4,064,555,672.95 |
| Non-currentassets: | ||
| Loansandpaymentsonbehalf | ||
| Debtinvestment | ||
| Otherdebtinvestment | ||
| Long-termaccountreceivable | ||
| Long-termequityinvestment | 71,565,377.48 | 73,361,312.10 |
| Investmentinotherequityinstrument | ||
| Othernon-currentfinancialassets | 57,500.00 | 57,500.00 |
| Investmentrealestate | 261,371,418.35 | 269,704,937.17 |
| Fixedassets | 1,081,579,471.16 | 945,042,032.69 |
| Constructioninprogress | 749,918,300.15 | 771,971,469.43 |
| Productivebiologicalasset | 392,540.38 | 397,386.56 |
| Oilandgasasset | ||
| Right-of-useassets | ||
| Intangibleassets | 583,935,178.98 | 589,167,059.47 |
| ExpenseonResearchandDevelopment | ||
| Goodwill | ||
| Long-termexpensestobeapportioned | 22,833,050.69 | 19,855,228.69 |
| Deferredincometaxasset | 39,553,014.09 | 39,082,710.96 |
| Othernon-currentasset | 1,871,965.84 | 1,871,965.84 |
| Totalnon-currentasset | 2,813,077,817.12 | 2,710,511,602.91 |
| Totalassets | 7,028,727,913.52 | 6,775,067,275.86 |
| Currentliabilities: |
| Short-termloans | 271,271,250.10 | 23,595,000.00 |
| Loanfromcentralbank | ||
| Capitalborrowed | ||
| Tradingfinancialliability | ||
| Derivativefinancialliability | ||
| Notepayable | ||
| Accountpayable | 173,070,931.77 | 266,123,470.98 |
| Accountsreceivedinadvance | 344,495,262.68 | 137,211,832.00 |
| Contractualliability | ||
| Sellingfinancialassetofrepurchase | ||
| Absorbingdepositandinterbankdeposit | ||
| Securitytradingofagency | ||
| Securitysalesofagency | ||
| Wagepayable | 169,772,163.54 | 195,076,576.55 |
| Taxespayable | 19,314,465.25 | 37,047,613.47 |
| Otheraccountpayable | 378,610,103.19 | 236,377,171.13 |
| Including:Interestpayable | 802,489.86 | 1,411,457.29 |
| Dividendpayable | 2,933,690.04 | 2,933,690.04 |
| Commissionchargeandcommissionpayable | ||
| Reinsurancepayable | ||
| Liabilityheldforsale | ||
| Non-currentliabilitiesduewithinoneyear | 71,800,514.64 | 67,420,012.16 |
| Othercurrentliabilities | 684,034.12 | 219,151,968.63 |
| Totalcurrentliabilities | 1,429,018,725.29 | 1,182,003,644.92 |
| Non-currentliabilities: | ||
| Insurancecontractreserve | ||
| Long-termloans | 859,432,044.98 | 835,912,556.41 |
| Bondspayable | ||
| Including:Preferredstock | ||
| Perpetualcapitalsecurities |
| Leaseliability | ||
| Long-termaccountpayable | 15,990,925.48 | 15,856,950.01 |
| Long-termwagespayable | ||
| Accrualliability | 3,500,000.00 | 3,500,000.00 |
| Deferredincome | 104,725,906.00 | 101,792,241.31 |
| Deferredincometaxliabilities | 12,356,893.67 | 12,563,752.22 |
| Othernon-currentliabilities | ||
| Totalnon-currentliabilities | 996,005,770.13 | 969,625,499.95 |
| Totalliabilities | 2,425,024,495.42 | 2,151,629,144.87 |
| Owner’sequity: | ||
| Sharecapital | 1,152,535,254.00 | 1,152,535,254.00 |
| Otherequityinstrument | ||
| Including:Preferredstock | ||
| Perpetualcapitalsecurities | ||
| Capitalpublicreserve | 1,422,892,729.36 | 1,422,892,729.36 |
| Less:Inventoryshares | ||
| Othercomprehensiveincome | ||
| Reasonablereserve | 522.55 | |
| Surpluspublicreserve | 350,187,601.06 | 350,187,601.06 |
| Provisionofgeneralrisk | ||
| Retainedprofit | 1,475,366,715.92 | 1,495,135,080.60 |
| Totalowner’sequityattributabletoparentcompany | 4,400,982,300.34 | 4,420,751,187.57 |
| Minorityinterests | 202,721,117.76 | 202,686,943.42 |
| Totalowner’sequity | 4,603,703,418.10 | 4,623,438,130.99 |
| Totalliabilitiesandowner’sequity | 7,028,727,913.52 | 6,775,067,275.86 |
LegalRepresentative:ZhuJunmingPersoninchargeofaccountingworks:JinZhenyuanPersoninchargeofaccountinginstitute:WenJieyu
2.BalanceSheetofParentCompany
InRMB
| Item | 2020-6-30 | 2019-12-31 |
| Currentassets: | ||
| Monetaryfunds | 10,994,054.21 | 16,272,394.90 |
| Tradingfinancialassets | 593,425.30 | 1,166,209.72 |
| Derivativefinancialassets | ||
| Notereceivable | ||
| Accountreceivable | 92,783.85 | 7,967.34 |
| Receivablefinancing | ||
| Accountspaidinadvance | ||
| Otheraccountreceivable | 1,242,937,209.15 | 994,149,247.39 |
| Including:Interestreceivable | ||
| Dividendreceivable | 650,000,000.00 | 260,000,000.00 |
| Inventories | 2,921,434.85 | 2,954,343.26 |
| Contractualassets | ||
| Assetsheldforsale | ||
| Non-currentassetsmaturingwithinoneyear | ||
| Othercurrentassets | 11,352,140.49 | 675,966.29 |
| Totalcurrentassets | 1,268,891,047.85 | 1,015,226,128.90 |
| Non-currentassets: | ||
| Debtinvestment | ||
| Otherdebtinvestment | ||
| Long-termreceivables | ||
| Long-termequityinvestments | 3,713,214,425.09 | 3,715,425,854.77 |
| Investmentinotherequityinstrument | ||
| Othernon-currentfinancialassets | ||
| Investmentrealestate | 17,222,299.21 | 17,458,094.37 |
| Fixedassets | 31,050,928.00 | 31,382,741.25 |
| Constructioninprogress | ||
| Productivebiologicalassets | 392,540.38 | 397,386.56 |
| Oilandnaturalgasassets | ||
| Right-of-useassets |
| Intangibleassets | 11,002,823.85 | 6,787,359.94 |
| Researchanddevelopmentcosts | ||
| Goodwill | ||
| Long-termdeferredexpenses | 320,531.61 | 380,772.60 |
| Deferredincometaxassets | ||
| Othernon-currentassets | ||
| Totalnon-currentassets | 3,773,203,548.14 | 3,771,832,209.49 |
| Totalassets | 5,042,094,595.99 | 4,787,058,338.39 |
| Currentliabilities | ||
| Short-termborrowings | ||
| Tradingfinancialliability | ||
| Derivativefinancialliability | ||
| Notespayable | ||
| Accountpayable | 115,458.38 | 115,458.38 |
| Accountsreceivedinadvance | 3,137.80 | 3,137.80 |
| Contractualliability | ||
| Wagepayable | 19,545,073.44 | 17,230,138.89 |
| Taxespayable | 2,870,803.52 | 2,607,719.37 |
| Otheraccountspayable | 379,465,816.41 | 257,459,190.14 |
| Including:Interestpayable | ||
| Dividendpayable | ||
| Liabilityheldforsale | ||
| Non-currentliabilitiesduewithinoneyear | ||
| Othercurrentliabilities | ||
| Totalcurrentliabilities | 402,000,289.55 | 277,415,644.58 |
| Non-currentliabilities: | ||
| Long-termloans | ||
| Bondspayable | ||
| Including:preferredstock | ||
| Perpetualcapitalsecurities | ||
| Leaseliability | ||
| Long-termaccountpayable | ||
| Longtermemployee |
| compensationpayable | ||
| Accruedliabilities | 3,500,000.00 | 3,500,000.00 |
| Deferredincome | 44,466.04 | 45,020.68 |
| Deferredincometaxliabilities | ||
| Othernon-currentliabilities | ||
| Totalnon-currentliabilities | 3,544,466.04 | 3,545,020.68 |
| Totalliabilities | 405,544,755.59 | 280,960,665.26 |
| Owners’equity: | ||
| Sharecapital | 1,152,535,254.00 | 1,152,535,254.00 |
| Otherequityinstrument | ||
| Including:preferredstock | ||
| Perpetualcapitalsecurities | ||
| Capitalpublicreserve | 3,018,106,568.27 | 3,018,106,568.27 |
| Less:Inventoryshares | ||
| Othercomprehensiveincome | ||
| Specialreserve | ||
| Surplusreserve | 77,783,172.92 | 77,783,172.92 |
| Retainedprofit | 388,124,845.21 | 257,672,677.94 |
| Totalowner’sequity | 4,636,549,840.40 | 4,506,097,673.13 |
| Totalliabilitiesandowner’sequity | 5,042,094,595.99 | 4,787,058,338.39 |
3.ConsolidatedProfitStatement
InRMB
| Item | 2020semi-annual | 2019semi-annual |
| I.Totaloperatingincome | 4,740,428,222.10 | 4,782,167,732.69 |
| Including:Operatingincome | 4,740,428,222.10 | 4,782,167,732.69 |
| Interestincome | ||
| Insurancegained | ||
| Commissionchargeandcommissionincome | ||
| II.Totaloperatingcost | 4,448,897,391.27 | 4,495,390,182.31 |
| Including:Operatingcost | 4,219,403,828.80 | 4,262,101,770.62 |
| Interestexpense | ||
| Commissionchargeand |
| commissionexpense | ||
| Cashsurrendervalue | ||
| Netamountofexpenseofcompensation | ||
| Netamountofwithdrawalofinsurancecontractreserve | ||
| Bonusexpenseofguaranteeslip | ||
| Reinsuranceexpense | ||
| Taxandextras | 4,334,418.54 | 6,605,514.20 |
| Salesexpense | 109,796,698.11 | 112,553,742.74 |
| Administrativeexpense | 101,838,460.53 | 101,397,947.99 |
| R&Dexpense | 7,368,772.68 | 4,211,474.91 |
| Financialexpense | 6,155,212.61 | 8,519,731.85 |
| Including:Interestexpenses | 7,410,693.33 | 10,087,784.34 |
| Interestincome | 1,735,133.50 | 2,185,171.96 |
| Add:otherincome | 10,824,560.17 | 5,463,876.60 |
| Investmentincome(Lossislistedwith“-”) | 10,249,064.30 | 7,167,936.04 |
| Including:Investmentincomeonaffiliatedcompanyandjointventure | 366,989.43 | 3,413,100.95 |
| Theterminationofincomerecognitionforfinancialassetsmeasuredbyamortizedcost(Lossislistedwith“-”) | ||
| Exchangeincome(Lossislistedwith“-”) | ||
| Netexposurehedgingincome(Lossislistedwith“-”) | ||
| Incomefromchangeoffairvalue(Lossislistedwith“-”) | -572,784.42 | 28,381.21 |
| Lossofcreditimpairment(Lossislistedwith“-”) | 1,791,966.35 | 5,143,559.77 |
| Lossesofdevaluationofasset(Lossislistedwith“-”) | -95,290,043.04 | -69,231,423.42 |
| Incomefromassetsdisposal | -10,598.38 | -4,184.59 |
| (Lossislistedwith“-”) | ||
| III.Operatingprofit(Lossislistedwith“-”) | 218,522,995.81 | 235,345,695.99 |
| Add:Non-operatingincome | 1,358,799.58 | 362,252.46 |
| Less:Non-operatingexpense | 5,186,666.30 | 3,982,019.95 |
| IV.Totalprofit(Lossislistedwith“-”) | 214,695,129.09 | 231,725,928.50 |
| Less:Incometaxexpense | 2,465,268.63 | 15,485,294.03 |
| V.Netprofit(Netlossislistedwith“-”) | 212,229,860.46 | 216,240,634.47 |
| (i)Classifybybusinesscontinuity | ||
| 1.continuousoperatingnetprofit(netlosslistedwith‘-”) | 212,229,860.46 | 216,240,634.47 |
| 2.terminationofnetprofit(netlosslistedwith‘-”) | ||
| (ii)Classifybyownership | ||
| 1.Netprofitattributabletoowner’sofparentcompany | 210,738,686.12 | 203,168,850.61 |
| 2.Minorityshareholders’gainsandlosses | 1,491,174.34 | 13,071,783.86 |
| VI.Netafter-taxofothercomprehensiveincome | ||
| Netafter-taxofothercomprehensiveincomeattributabletoownersofparentcompany | ||
| (I)Othercomprehensiveincomeitemswhichwillnotbereclassifiedsubsequentlytoprofitofloss | ||
| 1.Changesofthedefinedbenefitplansthatre-measured | ||
| 2.Othercomprehensiveincomeunderequitymethodthatcannotbetransfertogain/loss | ||
| 3.Changeoffairvalueofinvestmentinotherequityinstrument | ||
| 4.Fairvaluechangeofenterprise'screditrisk | ||
| 5.Other | ||
| (ii)Othercomprehensiveincome |
| itemswhichwillbereclassifiedsubsequentlytoprofitorloss | ||
| 1.Othercomprehensiveincomeunderequitymethodthatcantransfertogain/loss | ||
| 2.Changeoffairvalueofotherdebtinvestment | ||
| 3.Amountoffinancialassetsre-classifytoothercomprehensiveincome | ||
| 4.Creditimpairmentprovisionforotherdebtinvestment | ||
| 5.Cashflowhedgingreserve | ||
| 6.Translationdifferencesarisingontranslationofforeigncurrencyfinancialstatements | ||
| 7.Other | ||
| Netafter-taxofothercomprehensiveincomeattributabletominorityshareholders | ||
| VII.Totalcomprehensiveincome | 212,229,860.46 | 216,240,634.47 |
| TotalcomprehensiveincomeattributabletoownersofparentCompany | 210,738,686.12 | 203,168,850.61 |
| Totalcomprehensiveincomeattributabletominorityshareholders | 1,491,174.34 | 13,071,783.86 |
| VIII.Earningspershare: | ||
| (i)Basicearningspershare | 0.1828 | 0.1763 |
| (ii)Dilutedearningspershare | 0.1828 | 0.1763 |
EnterprisecombineunderthesamecontrolinthePeriod,thecombinedpartyrealizednetprofitof0Yuanbeforecombination,andrealized0Yuanatlastperiodforcombinedparty.LegalRepresentative:ZhuJunmingPersoninchargeofaccountingworks:JinZhenyuanPersoninchargeofaccountinginstitute:WenJieyu
4.ProfitStatementofParentCompany
InRMB
| Item | 2020semi-annual | 2019semi-annual |
| I.Operatingincome | 191,007.09 | 31,562,730.23 |
| Less:Operatingcost | 250,130.28 | 29,829,293.00 |
| Taxesandsurcharge | 115,899.05 | 252,634.47 |
| Salesexpenses | 1,557.53 | 293,450.97 |
| Administrationexpenses | 27,299,132.94 | 21,614,585.82 |
| R&Dexpenses | ||
| Financialexpenses | -137,521.80 | -532,360.14 |
| Including:interestexpenses | ||
| Interestincome | 131,202.58 | |
| Add:otherincome | 994,791.02 | 1,253,598.63 |
| Investmentincome(Lossislistedwith“-”) | 392,812,575.88 | 1,432,614.92 |
| Including:InvestmentincomeonaffiliatedCompanyandjointventure | -48,505.63 | -135,033.88 |
| Theterminationofincomerecognitionforfinancialassetsmeasuredbyamortizedcost(Lossislistedwith“-”) | ||
| Netexposurehedgingincome(Lossislistedwith“-”) | ||
| Changingincomeoffairvalue(Lossislistedwith“-”) | -572,784.42 | 28,381.21 |
| Lossofcreditimpairment(Lossislistedwith“-”) | -204,763.50 | -204,340.76 |
| Lossesofdevaluationofasset(Lossislistedwith“-”) | 409,117.45 | |
| Incomeondisposalofassets(Lossislistedwith“-”) | ||
| II.Operatingprofit(Lossislistedwith“-”) | 365,691,628.07 | -16,975,502.44 |
| Add:Non-operatingincome | 357,590.00 | |
| Less:Non-operatingexpense | 5,090,000.00 |
| III.TotalProfit(Lossislistedwith“-”) | 360,959,218.07 | -16,975,502.44 |
| Less:Incometax | 58,289.47 | |
| IV.Netprofit(Netlossislistedwith“-”) | 360,959,218.07 | -17,033,791.91 |
| (i)continuousoperatingnetprofit(netlosslistedwith‘-”) | ||
| (ii)terminationofnetprofit(netlosslistedwith‘-”) | ||
| V.Netafter-taxofothercomprehensiveincome | ||
| (I)Othercomprehensiveincomeitemswhichwillnotbereclassifiedsubsequentlytoprofitofloss | ||
| 1.Changesofthedefinedbenefitplansthatre-measured | ||
| 2.Othercomprehensiveincomeunderequitymethodthatcannotbetransfertogain/loss | ||
| 3.Changeoffairvalueofinvestmentinotherequityinstrument | ||
| 4.Fairvaluechangeofenterprise'screditrisk | ||
| 5.Other | ||
| (II)Othercomprehensiveincomeitemswhichwillbereclassifiedsubsequentlytoprofitorloss | ||
| 1.Othercomprehensiveincomeunderequitymethodthatcantransfertogain/loss | ||
| 2.Changeoffairvalueofotherdebtinvestment | ||
| 3.Amountoffinancialassetsre-classifytoothercomprehensiveincome | ||
| 4.Creditimpairmentprovisionforotherdebtinvestment | ||
| 5.Cashflowhedging |
| reserve | ||
| 6.Translationdifferencesarisingontranslationofforeigncurrencyfinancialstatements | ||
| 7.Other | ||
| VI.Totalcomprehensiveincome | 360,959,218.07 | -17,033,791.91 |
| VII.Earningspershare: | ||
| (i)Basicearningspershare | ||
| (ii)Dilutedearningspershare |
5.ConsolidatedCashFlowStatement
InRMB
| Item | 2020semi-annual | 2019semi-annual |
| I.Cashflowsarisingfromoperatingactivities: | ||
| Cashreceivedfromsellingcommoditiesandprovidinglaborservices | 4,851,380,535.76 | 4,570,303,860.45 |
| Netincreaseofcustomerdepositandinterbankdeposit | ||
| Netincreaseofloanfromcentralbank | ||
| Netincreaseofcapitalborrowedfromotherfinancialinstitution | ||
| Cashreceivedfromoriginalinsurancecontractfee | ||
| Netcashreceivedfromreinsurancebusiness | ||
| Netincreaseofinsuredsavingsandinvestment | ||
| Cashreceivedfrominterest,commissionchargeandcommission | ||
| Netincreaseofcapitalborrowed | ||
| Netincreaseofreturnedbusinesscapital | ||
| Netcashreceivedbyagentsinsaleandpurchaseofsecurities |
| Write-backoftaxreceived | 2,634,408.13 | 341,886.74 |
| Othercashreceivedconcerningoperatingactivities | 440,707,293.21 | 187,051,727.97 |
| Subtotalofcashinflowarisingfromoperatingactivities | 5,294,722,237.10 | 4,757,697,475.16 |
| Cashpaidforpurchasingcommoditiesandreceivinglaborservice | 4,653,349,386.89 | 4,737,315,792.15 |
| Netincreaseofcustomerloansandadvances | ||
| Netincreaseofdepositsincentralbankandinterbank | ||
| Cashpaidfororiginalinsurancecontractcompensation | ||
| Netincreaseofcapitallent | ||
| Cashpaidforinterest,commissionchargeandcommission | ||
| Cashpaidforbonusofguaranteeslip | ||
| Cashpaidto/forstaffandworkers | 149,264,002.51 | 117,107,205.65 |
| Taxespaid | 37,068,103.68 | 36,670,126.83 |
| Othercashpaidconcerningoperatingactivities | 445,430,382.87 | 256,033,980.28 |
| Subtotalofcashoutflowarisingfromoperatingactivities | 5,285,111,875.95 | 5,147,127,104.91 |
| Netcashflowsarisingfromoperatingactivities | 9,610,361.15 | -389,429,629.75 |
| II.Cashflowsarisingfrominvestingactivities: | ||
| Cashreceivedfromrecoveringinvestment | 464,500,000.00 | 376,000,000.00 |
| Cashreceivedfrominvestmentincome | 7,544,998.92 | 3,281,912.85 |
| Netcashreceivedfromdisposaloffixed,intangibleandotherlong-termassets | 19,988.32 | 5,225,078.07 |
| Netcashreceivedfromdisposal |
| ofsubsidiariesandotherunits | ||
| Othercashreceivedconcerninginvestingactivities | 337,500.00 | |
| Subtotalofcashinflowfrominvestingactivities | 472,402,487.24 | 384,506,990.92 |
| Cashpaidforpurchasingfixed,intangibleandotherlong-termassets | 156,742,240.20 | 279,258,684.99 |
| Cashpaidforinvestment | 385,000,000.00 | 246,000,000.00 |
| Netincreaseofmortgagedloans | ||
| Netcashreceivedfromsubsidiariesandotherunitsobtained | ||
| Othercashpaidconcerninginvestingactivities | 994,317.84 | |
| Subtotalofcashoutflowfrominvestingactivities | 542,736,558.04 | 525,258,684.99 |
| Netcashflowsarisingfrominvestingactivities | -70,334,070.80 | -140,751,694.07 |
| III.Cashflowsarisingfromfinancingactivities | ||
| Cashreceivedfromabsorbinginvestment | 17,150,000.00 | |
| Including:Cashreceivedfromabsorbingminorityshareholders’investmentbysubsidiaries | 17,150,000.00 | |
| Cashreceivedfromloans | 833,803,914.65 | 275,167,400.91 |
| Othercashreceivedconcerningfinancingactivities | ||
| Subtotalofcashinflowfromfinancingactivities | 833,803,914.65 | 292,317,400.91 |
| Cashpaidforsettlingdebts | 558,227,673.50 | 70,544,523.73 |
| Cashpaidfordividendandprofitdistributingorinterestpaying | 256,130,248.31 | 133,274,201.72 |
| Including:Dividendandprofitofminorityshareholderpaidbysubsidiaries | ||
| Othercashpaidconcerningfinancingactivities | 58,702.23 | 72,997.72 |
| Subtotalofcashoutflowfrom | 814,416,624.04 | 203,891,723.17 |
| financingactivities | ||
| Netcashflowsarisingfromfinancingactivities | 19,387,290.61 | 88,425,677.74 |
| IV.Influenceoncashandcashequivalentsduetofluctuationinexchangerate | 18,647.57 | 31,791.79 |
| V.Netincreaseofcashandcashequivalents | -41,317,771.47 | -441,723,854.29 |
| Add:Balanceofcashandcashequivalentsattheperiod-begin | 154,954,757.85 | 631,638,339.68 |
| VI.Balanceofcashandcashequivalentsattheperiod-end | 113,636,986.38 | 189,914,485.39 |
6.CashFlowStatementofParentCompany
InRMB
| Item | 2020semi-annual | 2019semi-annual |
| I.Cashflowsarisingfromoperatingactivities: | ||
| Cashreceivedfromsellingcommoditiesandprovidinglaborservices | 124,032.00 | 74,116,410.44 |
| Write-backoftaxreceived | 103,987.33 | 336,964.29 |
| Othercashreceivedconcerningoperatingactivities | 279,260,229.55 | 138,446,106.95 |
| Subtotalofcashinflowarisingfromoperatingactivities | 279,488,248.88 | 212,899,481.68 |
| Cashpaidforpurchasingcommoditiesandreceivinglaborservice | 12,742.23 | 67,845,729.08 |
| Cashpaidto/forstaffandworkers | 15,199,812.23 | 14,152,467.36 |
| Taxespaid | 1,392,555.04 | 1,160,654.10 |
| Othercashpaidconcerningoperatingactivities | 27,911,182.13 | 199,823,754.56 |
| Subtotalofcashoutflowarisingfromoperatingactivities | 44,516,291.63 | 282,982,605.10 |
| Netcashflowsarisingfromoperatingactivities | 234,971,957.25 | -70,083,123.42 |
| II.Cashflowsarisingfrominvestingactivities: | ||
| Cashreceivedfromrecoveringinvestment | 24,500,000.00 | 266,000,000.00 |
| Cashreceivedfrominvestmentincome | 524,005.56 | 1,567,648.80 |
| Netcashreceivedfromdisposaloffixed,intangibleandotherlong-termassets | 2,710.37 | |
| Netcashreceivedfromdisposalofsubsidiariesandotherunits | ||
| Othercashreceivedconcerninginvestingactivities | 337,500.00 | |
| Subtotalofcashinflowfrominvestingactivities | 25,361,505.56 | 267,570,359.17 |
| Cashpaidforpurchasingfixed,intangibleandotherlong-termassets | 5,054,670.76 | 483,680.00 |
| Cashpaidforinvestment | 30,000,000.00 | 246,000,000.00 |
| Netcashreceivedfromsubsidiariesandotherunitsobtained | ||
| Othercashpaidconcerninginvestingactivities | ||
| Subtotalofcashoutflowfrominvestingactivities | 35,054,670.76 | 246,483,680.00 |
| Netcashflowsarisingfrominvestingactivities | -9,693,165.20 | 21,086,679.17 |
| III.Cashflowsarisingfromfinancingactivities | ||
| Cashreceivedfromabsorbinginvestment | ||
| Cashreceivedfromloans | ||
| Othercashreceivedconcerningfinancingactivities | ||
| Subtotalofcashinflowfromfinancingactivities | ||
| Cashpaidforsettlingdebts | ||
| Cashpaidfordividendandprofitdistributingorinterestpaying | 230,507,050.80 | 115,253,525.40 |
| Othercashpaidconcerningfinancingactivities | 58,702.23 | 72,997.72 |
| Subtotalofcashoutflowfromfinancingactivities | 230,565,753.03 | 115,326,523.12 |
| Netcashflowsarisingfromfinancingactivities | -230,565,753.03 | -115,326,523.12 |
| IV.Influenceoncashandcashequivalentsduetofluctuationinexchangerate | 8,620.29 | 90,359.07 |
| V.Netincreaseofcashandcashequivalents | -5,278,340.69 | -164,232,608.30 |
| Add:Balanceofcashandcashequivalentsattheperiod-begin | 16,272,394.90 | 168,900,586.84 |
| VI.Balanceofcashandcashequivalentsattheperiod-end | 10,994,054.21 | 4,667,978.54 |
7.StatementofChangesinOwners’Equity(Consolidated)
Currentperiod
InRMB
| Item | 2020semi-annual | ||||||||||||||
| Owners’equityattributabletotheparentCompany | Minorityinterests | Totalowners’equity | |||||||||||||
| Sharecapital | Otherequityinstrument | Capitalreserve | Less:Inventoryshares | Othercomprehensiveincome | Reasonablereserve | Surplusreserve | Provisionofgeneralrisk | Retainedprofit | Other | Subtotal | |||||
| Preferredstock | Perpetualcapitalsecurities | Other | |||||||||||||
| I.Balanceattheendofthelastyear | 1,152,535,254.00 | 1,422,892,729.36 | 522.55 | 350,187,601.06 | 1,495,135,080.60 | 4,420,751,187.57 | 202,686,943.42 | 4,623,438,130.99 | |||||||
| Add:Changesofaccountingpolicy | |||||||||||||||
| Errorcorrectionofthelastperiod | ||||||||||||
| Enterprisecombineunderthesamecontrol | ||||||||||||
| Other | ||||||||||||
| II.Balanceatthebeginningofthisyear | 1,152,535,254.00 | 1,422,892,729.36 | 522.55 | 350,187,601.06 | 1,495,135,080.60 | 4,420,751,187.57 | 202,686,943.42 | 4,623,438,130.99 | ||||
| III.Increase/Decreaseinthisyear(Decreaseislistedwith“-”) | -522.55 | -19,768,364.68 | -19,768,887.23 | 34,174.34 | -19,734,712.89 | |||||||
| (i)Totalcomprehensiveincome | 210,738,686.12 | 210,738,686.12 | 1,491,174.34 | 212,229,860.46 | ||||||||
| (ii)Owners’devotedanddecreasedcapital | ||||||||||||
| 1.Commonsharesinvestedbyshareholders | ||||||||||||
| 2.Capitalinvestedbyholdersofotherequityinstruments | ||||||||||||
| 3.Amountreckonedintoownersequitywithshare-basedpayment | ||||||||||||
| 4.Other | ||||||||||||
| (III)Profitdistribution | -230,507, | -230,507, | -1,457,0 | -231,964, |
| 050.80 | 050.80 | 00.00 | 050.80 | |||||
| 1.Withdrawalofsurplusreserves | ||||||||
| 2.Withdrawalofgeneralriskprovisions | ||||||||
| 3.Distributionforowners(orshareholders) | -230,507,050.80 | -230,507,050.80 | -1,457,000.00 | -231,964,050.80 | ||||
| 4.Other | ||||||||
| (IV)Carryingforwardinternalowners’equity | ||||||||
| 1.Capitalreservesconversedtocapital(sharecapital) | ||||||||
| 2.Surplusreservesconversedtocapital(sharecapital) | ||||||||
| 3.Remedyinglosswithsurplusreserve | ||||||||
| 4．Carry-overretainedearningsfromthedefinedbenefitplans | ||||||||
| 5．Carry-overretainedearningsfromothercomprehensiveincome | ||||||||
| 6.Other | ||||||||
| (V)Reasonablereserve | -522.55 | -522.55 | -522.55 |
| 1.Withdrawalinthereportperiod | 574,618.41 | 574,618.41 | 574,618.41 | |||||||||
| 2.Usageinthereportperiod | 575,140.96 | 575,140.96 | 575,140.96 | |||||||||
| (VI)Others | ||||||||||||
| IV.Balanceattheendofthereportperiod | 1,152,535,254.00 | 1,422,892,729.36 | 350,187,601.06 | 1,475,366,715.92 | 4,400,982,300.34 | 202,721,117.76 | 4,603,703,418.10 |
LastPeriod
InRMB
| Item | 2019semi-annual | ||||||||||||||
| Owners’equityattributabletotheparentCompany | Minorityinterests | Totalowners’equity | |||||||||||||
| Sharecapital | Otherequityinstrument | Capitalreserve | Less:Inventoryshares | Othercomprehensiveincome | Reasonablereserve | Surplusreserve | Provisionofgeneralrisk | Retainedprofit | Other | Subtotal | |||||
| Preferredstock | Perpetualcapitalsecurities | Other | |||||||||||||
| I.Balanceattheendofthelastyear | 1,152,535,254.00 | 1,422,892,729.36 | 154.21 | 327,140,910.28 | 1,269,933,487.26 | 4,172,502,535.11 | 165,096,296.47 | 4,337,598,831.58 | |||||||
| Add:Changesofaccountingpolicy | |||||||||||||||
| Errorcorrectionofthelastperiod | |||||||||||||||
| Enterprisecombineunderthesamecontrol | ||||||||||||
| Other | ||||||||||||
| II.Balanceatthebeginningofthisyear | 1,152,535,254.00 | 1,422,892,729.36 | 154.21 | 327,140,910.28 | 1,269,933,487.26 | 4,172,502,535.11 | 165,096,296.47 | 4,337,598,831.58 | ||||
| III.Increase/Decreaseinthisyear(Decreaseislistedwith“-”) | 62,255.35 | 87,915,325.21 | 87,977,580.56 | 30,221,783.85 | 118,199,364.41 | |||||||
| (i)Totalcomprehensiveincome | 203,168,850.61 | 203,168,850.61 | 13,071,783.85 | 216,240,634.46 | ||||||||
| (ii)Owners’devotedanddecreasedcapital | 17,150,000.00 | 17,150,000.00 | ||||||||||
| 1.Commonsharesinvestedbyshareholders | 17,150,000.00 | 17,150,000.00 | ||||||||||
| 2.Capitalinvestedbyholdersofotherequityinstruments | ||||||||||||
| 3.Amountreckonedintoownersequitywithshare-basedpayment | ||||||||||||
| 4.Other | ||||||||||||
| (III)Profitdistribution | -115,253,525.40 | -115,253,525.40 | -115,253,525.40 |
| 1.Withdrawalofsurplusreserves | ||||||||
| 2.Withdrawalofgeneralriskprovisions | ||||||||
| 3.Distributionforowners(orshareholders) | -115,253,525.40 | -115,253,525.40 | -115,253,525.40 | |||||
| 4.Other | ||||||||
| (IV)Carryingforwardinternalowners’equity | ||||||||
| 1.Capitalreservesconversedtocapital(sharecapital) | ||||||||
| 2.Surplusreservesconversedtocapital(sharecapital) | ||||||||
| 3.Remedyinglosswithsurplusreserve | ||||||||
| 4．Carry-overretainedearningsfromthedefinedbenefitplans | ||||||||
| 5．Carry-overretainedearningsfromothercomprehensiveincome | ||||||||
| 6.Other | ||||||||
| (V)Reasonablereserve | 62,255.35 | 62,255.35 | 62,255.35 |
| 1.Withdrawalinthereportperiod | 460,394.34 | 460,394.34 | 460,394.34 | |||||||||
| 2.Usageinthereportperiod | 398,138.99 | 398,138.99 | 398,138.99 | |||||||||
| (VI)Others | ||||||||||||
| IV.Balanceattheendofthereportperiod | 1,152,535,254.00 | 1,422,892,729.36 | 62,409.56 | 327,140,910.28 | 1,357,848,812.47 | 4,260,480,115.67 | 195,318,080.32 | 4,455,798,195.99 |
8.StatementofChangesinOwners’Equity(ParentCompany)
Currentperiod
InRMB
| Item | 2020semi-annual | |||||||||||
| Sharecapital | Otherequityinstrument | Capitalpublicreserve | Less:Inventoryshares | Othercomprehensiveincome | Reasonablereserve | Surplusreserve | Retainedprofit | Other | Totalowners’equity | |||
| Preferredstock | Perpetualcapitalsecurities | Other | ||||||||||
| I.Balanceattheendofthelastyear | 1,152,535,254.00 | 3,018,106,568.27 | 77,783,172.92 | 257,672,677.94 | 4,506,097,673.13 | |||||||
| Add:Changesofaccountingpolicy | ||||||||||||
| Errorcorrectionofthelastperiod | ||||||||||||
| Other | ||||||||||||
| II.Balanceatthebeginningofthisyear | 1,152,535,254.0 | 3,018,106,568.27 | 77,783,172.92 | 257,672,677. | 4,506,097,673.13 | |||||||
| 0 | 94 | ||||
| III.Increase/Decreaseinthisyear(Decreaseislistedwith“-”) | 130,452,167.27 | 130,452,167.27 | |||
| (i)Totalcomprehensiveincome | 360,959,218.07 | 360,959,218.07 | |||
| (ii)Owners’devotedanddecreasedcapital | |||||
| 1.Commonsharesinvestedbyshareholders | |||||
| 2.Capitalinvestedbyholdersofotherequityinstruments | |||||
| 3.Amountreckonedintoownersequitywithshare-basedpayment | |||||
| 4.Other | |||||
| (III)Profitdistribution | -230,507,050.80 | -230,507,050.80 | |||
| 1.Withdrawalofsurplusreserves | |||||
| 2.Distributionforowners(orshareholders) | -230,507,050.80 | -230,507,050.80 | |||
| 3.Other | |||||
| (IV)Carryingforwardinternalowners’equity | |||||
| 1.Capitalreserves |
| conversedtocapital(sharecapital) | ||||||||
| 2.Surplusreservesconversedtocapital(sharecapital) | ||||||||
| 3.Remedyinglosswithsurplusreserve | ||||||||
| 4．Carry-overretainedearningsfromthedefinedbenefitplans | ||||||||
| 5．Carry-overretainedearningsfromothercomprehensiveincome | ||||||||
| 6.Other | ||||||||
| (V)Reasonablereserve | ||||||||
| 1.Withdrawalinthereportperiod | ||||||||
| 2.Usageinthereportperiod | ||||||||
| (VI)Others | ||||||||
| IV.Balanceattheendofthereportperiod | 1,152,535,254.00 | 3,018,106,568.27 | 77,783,172.92 | 388,124,845.21 | 4,636,549,840.40 |
LastPeriod
InRMB
| Item | 2019semi-annual | |||||||||
| Sharecapital | Otherequityinstrument | Capitalpublicreserve | Less:Inventoryshares | Othercomprehensiveincome | Reasonablereserve | Surplusreserve | Retainedprofit | Other | Totalowners’equity | |
| Preferredstock | Perpetualcapitalsecurities | Other |
| I.Balanceattheendofthelastyear | 1,152,535,254.00 | 3,018,106,568.27 | 54,736,482.14 | 165,505,986.31 | 4,390,884,290.72 | |||
| Add:Changesofaccountingpolicy | ||||||||
| Errorcorrectionofthelastperiod | ||||||||
| Other | ||||||||
| II.Balanceatthebeginningofthisyear | 1,152,535,254.00 | 3,018,106,568.27 | 54,736,482.14 | 165,505,986.31 | 4,390,884,290.72 | |||
| III.Increase/Decreaseinthisyear(Decreaseislistedwith“-”) | -132,287,317.31 | -132,287,317.31 | ||||||
| (i)Totalcomprehensiveincome | -17,033,791.91 | -17,033,791.91 | ||||||
| (ii)Owners’devotedanddecreasedcapital | ||||||||
| 1.Commonsharesinvestedbyshareholders | ||||||||
| 2.Capitalinvestedbyholdersofotherequityinstruments | ||||||||
| 3.Amountreckonedintoownersequitywithshare-basedpayment | ||||||||
| 4.Other | ||||||||
| (III)Profitdistribution | -115,253,525.4 | -115,253,525.40 |
| 0 | ||||
| 1.Withdrawalofsurplusreserves | ||||
| 2.Distributionforowners(orshareholders) | -115,253,525.40 | -115,253,525.40 | ||
| 3.Other | ||||
| (IV)Carryingforwardinternalowners’equity | ||||
| 1.Capitalreservesconversedtocapital(sharecapital) | ||||
| 2.Surplusreservesconversedtocapital(sharecapital) | ||||
| 3.Remedyinglosswithsurplusreserve | ||||
| 4．Carry-overretainedearningsfromthedefinedbenefitplans | ||||
| 5．Carry-overretainedearningsfromothercomprehensiveincome | ||||
| 6.Other | ||||
| (V)Reasonablereserve | ||||
| 1.Withdrawalinthereportperiod | ||||
| 2.Usagein |
| thereportperiod | ||||||||
| (VI)Others | ||||||||
| IV.Balanceattheendofthereportperiod | 1,152,535,254.00 | 3,018,106,568.27 | 54,736,482.14 | 33,218,669.00 | 4,258,596,973.41 |
III.BasicsituationofCompany
ShenzhenCerealsHoldingsCo.,Ltd.(formerlytheShenzhenShenbaoIndustrialCo.,Ltd.,hereinafterreferredtoas“Company”or“theCompany”),formerlynamedShenzhenShenbaoCannedFoodCompany,obtainedapproval(Document(1991)No.978)fromShenzhenMunicipalPeople’sGovernmenttochangetothenameasShenzhenShenbaoIndustrialCo.,ltd.on1August1991.Thenwiththeapproval(Document(1991)No.126)fromPeople’sBankofChina,theCompanybegantolistonShenzhenStockExchange.TheCompanybelongstothegrain,oil,foodandbeverageindustry.Asof30June2020,thecumulativeamountofsharesissuedbytheCompanywas1,152,535,254shareswithregisteredcapitalof1,152,535,254.00yuan.Registeredaddress:Shenzhen,GuangdongProvince;HQoftheCompany:8/F,TowerB,No.4Building,SoftwareIndustryBase,SouthDistrict,Science&TechnologyPark,XuefuRd.,YuehaiStreet,NanshanDistrict,Shenzhen.MainbusinessoftheCompany:generaloperatingitems:
Purchaseandsalesofgrainandoil,grain&oilreserves;operationandprocessingofgrain&oilproducts;productionoftea,teaproducts,teaandnaturalplantextract,cannedfoods,beveragesandnativeproducts(businesslicenseoftheproductionplaceshallbeseparatelyappliedfor);feedmanagementandprocessing(outsourcing);investment,operationanddevelopmentofgrain&oillogistics,feedlogisticsandteagardenetc.;salesoffeedandtea;warehousingservices;foodcirculationservices;modernfoodsupplychainservices;technologydevelopmentandservicesofgrain&oil,tea,plantproducts,softdrinksandfoods;constructionofE-commerceandinformation,ITdevelopmentandsupportingservices;industrialinvestment(specificitemswillbedeclaredseparately);domestictrade;operatingtheimportandexportbusiness;engagedinrealestatedevelopmentandoperationonthelandswheretheright-to-usehasbeenlegallyacquired;development,operation,leasingandmanagementoftheownproperty;propertymanagement;providingmanagementservicestohotels.(itemsmentionedabovewhichareinvolvedinapprovalfromnationallaws,administrativeregulationsanddecisionofthestatecouncil,mustbesubmittedforexaminationandapprovalbeforeoperation).Licensedbusinessitem:wholesaleofprepackagedfood(excludingreheatingprepackagedfood)(innon-physicalway);informationservice(internetinformationserviceonly);generalfreight,professionaltransportation(refrigerationandfresh-keeping).ParententerpriseoftheCompany:ShenzhenFoodGroupCo.,Ltd.;actualcontrolleroftheCompany:AssetsSupervisionandAdministrationCommissionofShenzhenmunicipalPeople’sGovernment.ThefinancialstatementhasbeenapprovedbyBODofthecompanyforreportingon24August2020.
Upto30June2020,thesubsidiariesincludedinconsolidatefinancialstatement,mainlyincluding:
| Subsidiary | Type | Level | Shareholdingratio(%) | Votingrightsratio(%) | |
| ShenzhenShenbaoHuachengTechnologyCo.,Ltd.(hereinafterreferredtoasShenbaoHuacheng) | Wholly-ownedsubsidiary | Firstgrade | 100 | 100 | |
| WuyuanJuFangYongTeaIndustryCo.,Ltd.(hereinafterreferredtoasWuyuanJuFangYong) | Wholly-ownedsubsidiary | Secondgrade | 100 | 100 | |
| ShenzhenShenbaoSanjingFoodandBeverageDevelopmentCo.,Ltd.(hereinafterreferredtoasShenbaoSanjing) | Wholly-ownedsubsidiary | Firstgrade | 100 | 100 | |
| HuizhouShenbaoTechnologyCo.,Ltd(hereinafterreferredtoasHuizhouShenbaoTechnology) | Wholly-ownedsubsidiary | Firstgrade | 100 | 100 | |
| ShenzhenShenbaoPropertyManagementCo.,Ltd(hereinafterreferredtoasShenbaoProperty) | Wholly-ownedsubsidiary | Firstgrade | 100 | 100 | |
| ShenzhenShenbaoIndustrial&TradingCo.,Ltd(hereinafterreferredtoasShenbaoIndustrial&Trading) | Wholly-ownedsubsidiary | Firstgrade | 100 | 100 | |
| HangzhouJuFangYongHoldingCo.,Ltd(hereinafterreferredtoasHangzhouJuFangYong) | Wholly-ownedsubsidiary | Secondgrade | 100 | 100 | |
| ShenzhenShenbaoTechnologyCenterCo.,Ltd(hereinafterreferredtoasShenbaoTechnologyCenter) | Wholly-ownedsubsidiary | Firstgrade | 100 | 100 | |
| ShenzhenShenshenbaoInvestmentCo.,Ltd.(hereinafterreferredtoasShenbaoInvestment) | Wholly-ownedsubsidiary | Firstgrade | 100 | 100 | |
| YunnanShenbaoPu’erTeaSupplyChainManagementCo.,Ltd(hereinafterreferredtoasPu’erTeaSupplyChain) | Wholly-ownedsubsidiary | Secondgrade | 100 | 100 | |
| HuizhouShenbaoFoodCo.,Ltd(hereinafterreferredtoasHuizhouShenbaoFood) | Wholly-ownedsubsidiary | Secondgrade | 100 | 100 | |
| YunnanPu’erTeaTradingCenterCo.,Ltd(hereinafterreferredtoasPu’erTeaTradingCente) | Controllingsubsidiary | Secondgrade | 55 | 55 | |
| MountWuyiShenbaoRockTeaCo.,Ltd(hereinafterreferredtoasShenbaoRockTea) | Wholly-ownedsubsidiary | Secondgrade | 100 | 100 |
| HangzhouFuhaitangTeaEcologicalTechnologyCo.,Ltd(hereinafterreferredtoasFuhaitangEcological) | Wholly-ownedsubsidiary | Secondgrade | 100 | 100 |
| ShenzhenShenshenbaoTeaCultureManagementCo.,Ltd(hereinafterreferredtoasShenshenbaoTeaCulture) | Wholly-ownedsubsidiary | Secondgrade | 100 | 100 |
| HangzhouJuFangYongTradingCo.,Ltd.(hereinafterreferredtoasJuFangYongTrading) | Controllingsubsidiary | Thirdgrade | 60 | 60 |
| ShenzhenShenbaoTea-ShopCo.,Ltd(hereinafterreferredtoasShenbaoTea-Shop) | Wholly-ownedsubsidiary | Secondgrade | 100 | 100 |
| HangzhouFuhaitangCateringManagementchainCo.,Ltd(hereinafterreferredtoasFuhaitangCatering) | Wholly-ownedsubsidiary | Secondgrade | 100 | 100 |
| ShenzhenCerealsGroupCo.,Ltd(hereinafterreferredtoasSZCG) | Wholly-ownedsubsidiary | Firstgrade | 100 | 100 |
| ShenzhenFlourCo.,Ltd(hereinafterreferredtoasShenzhenFlour) | Wholly-ownedsubsidiary | Secondgrade | 100 | 100 |
| ShenzhenHualianGrainandOilTradingCo.,Ltd.(hereinafterreferredtoasHualianCompany) | Wholly-ownedsubsidiary | Secondgrade | 100 | 100 |
| HainanHaitianAquaticFeedCo.,Ltd(hereinafterreferredtoasHainanHaitian) | Wholly-ownedsubsidiary | Secondgrade | 100 | 100 |
| ShenliangQualityInspectionCo.,Ltd.(hereinafterreferredtoasShenliangQualityInspection) | Wholly-ownedsubsidiary | Secondgrade | 100 | 100 |
| ShenliangDoximiBusinessCo.,Ltd.(hereinafterreferredtoasDoximi) | Wholly-ownedsubsidiary | Secondgrade | 100 | 100 |
| ShenzhenShenliangColdChainLogisticsCo.,Ltd.(hereinafterreferredtoasShenliangColdChain) | Wholly-ownedsubsidiary | Secondgrade | 100 | 100 |
| ShenzhenShenliangBigKitchenFoodSupplyChainCo.,Ltd(hereinafterreferredtoasBigKitchen) | Controllingsubsidiary | Secondgrade | 70 | 70 |
| ShenzhenShenliangPropertyDevelopmentCo.,Ltd.(hereinafterreferredtoasShenliangProperty) | Wholly-ownedsubsidiary | Secondgrade | 100 | 100 |
| ShenzhenShenliangPropertyManagementCo., | Wholly-owned | Third | 100 | 100 |
| Ltd.(hereinafterreferredtoasShenliangProperty) | subsidiary | grade | ||
| ShenliangStorage(Yingkou)Co.,Ltd(hereinafterreferredtoasShenliangStorage(Yingkou)) | Wholly-ownedsubsidiary | Thirdgrade | 100 | 100 |
| DongguanShenliangLogisticsCo.,Ltd.(hereinafterreferredtoasDongguanLogistics) | Controllingsubsidiary | Secondgrade | 51 | 51 |
| DongguanInternationalFoodIndustrialParkDevelopmentCo.,Ltd.(hereinafterreferredtoasDongguanFoodIndustrialPark) | Controllingsubsidiary | Thirdgrade | 51 | 51 |
| DongguanShenliangOil&FoodTradeCo.,Ltd.(hereinafterreferredtoasDongguanFoodTrade) | Controllingsubsidiary | Thirdgrade | 51 | 51 |
| DongguanJinyingBiologyTech.Co.,Ltd.(hereinafterreferredtoasDongguanJinying) | Controllingsubsidiary | Thirdgrade | 51 | 51 |
| ShuangyashanShenliangZhongxinCerealsBaseCo.,Ltd(hereinafterreferredtoasShuangyashanShenliangZhongxin) | Controllingsubsidiary | Thirdgrade | 51 | 51 |
| HeilongjiangHongxinglongNongkenShenxinCerealsIndustrialParkCo.,ltd.(hereinafterreferredtoasHongxinglongNongkenIndustrialPark) | Controllingsubsidiary | Fourthgrade | 51 | 51 |
ChangeoftheconsolidatescopefoundmoreinNoteVIII.ChangeofconsolidatescopeandNoteIX.Equityinotherentity
IV.Basisofpreparationoffinancialstatements
1.BasisofpreparationBasedongoingconcern,andaccordingtoactualoccurrenceoftransactionsandissues,theCompanypreparedthefinancialstatementinlinewiththeAccountingStandardsforBusinessEnterprise-BasicStandardissuedbyMinistryofFinanceandspecificaccountingprincipleaswellastheapplicationguidancefortheaccountingprinciplesforenterprise,interpretationtotheaccountingprinciplesforenterpriseandotherrelatedrequirements(hereinafterreferredtoasAccountingStandardsforBusinessEnterprise),combiningtheInformationDisclosurePreparationRulesforCompanyPublicIssuingSecuritiesNo.15-GeneralRulesforFinancialReportoftheCSRC
2.GoingconcernTheCompanywasevaluatedoncontinuedviabilityof12monthsforthereportingperiodandfoundtohavenosignificantdoubt.Accordingly,thefinancialstatementshavebeenpreparedonthebasisofgoingconcernassumptions.
V.Majoraccountingpolicy,accountingestimation
Specificaccountingpoliciesandestimationattention:
N/A
1.StatementforobservationofAccountingStandardforBusinessEnterpriseThefinancialstatementspreparedbytheCompanyareinaccordancetorequirementsofAccountingStandardforBusinessEnterpriseissuedbyMinistryofFinance,whichtrulyandcompletelyreflectthefinancialstatusoftheCompanyandparentcompanyon30June2020,aswellastheconsolidateandparentcompany’soperationalresultsandcashflowforfirsthalfyearof2020.
2.AccountingperiodCalendaryearistheaccountingperiodfortheCompany,thatisfallstotherangestartingfrom1Januaryto31December.
3.OperatingcycleOperatingcycleoftheCompanywas12months
4.StandardcurrencyTheCompanyanditssubsidiariestakeRMBasthestandardcurrencyforbookkeeping.
5.AccountingtreatmentforbusinesscombinationsunderthesamecontrolandthosenotunderthesamecontrolBusinesscombinationunderthesamecontrol:TheassetsandliabilitiestheCompanyacquiredinabusinesscombinationshallbemeasuredinaccordancewithbookvalueofassets,liabilities(includingtheultimatecontrollingpartyofgoodwillacquiredbythemergingpartiesandtheformationof)statedincombinedfinancialreportoftheultimatecontrollingpartyonthemergerdate.Thenetbookvalueofassetsandthepaymentofthemergerconsiderationinthemergerbookvalue(ornominalvalueofsharesissued)shallbeadjustedinthesharepremiumofreservecapital.thesharepremiumincapitalreserveisnotenoughfordeducting,retainedearnings.Businesscombinationnotunderthesamecontrol:Assetspaidandliabilitiestakenforbusinesscombinationon
theacquisitiondateshallbemeasuredatfairvalue.Thedifferencebetweenthefairvalueandbookvalueisrecognizedinprofitorloss.GoodwillisrealizedbytheCompanyasforthedifferencebetweenthecombinationcostandthefairvalueoftherecognizablenetassetsoftheacquireeacquiredbyacquirerinsuchbusinesscombination.Incasethattheabovecostislessthantheabovefairvalueevenwithre-review,thenthedifferenceshallberecordedincurrentgainsandlosses.Thedirectedexpensesincurredinthebusinesscombinationarerecordedintocurrentgains/losses;thetradingfeesforissuingequitysecuritiesordebtsecuritiesforthebusinesscombinationshallberecordedintotheinitialconfirmationamountofequitysecuritiesordebtsecurities.
6.Methodsforpreparationofconsolidatedfinancialstatements
6.1ConsolidatedscopeTheconsolidationscopeoftheconsolidatedfinancialstatementsoftheCompanyisfixedonthebasisofcontrol,whichincludestheCompanyandallsubsidiaries.
6.2ConsolidatedprocedureTheCompanyeditstheconsolidatedfinancialstatementsbasedonitsownfinancialstatementsandthesubsidiaries’,aswellasotherrelevantinformation.Theconsolidatedfinancialstatementsholdtheenterprisegroupasawholeaccountingentity.ItisrecognizedinaccordancewithrelevantAccountingStandards,measurementandpresentationrequirements.UniformaccountingpoliciesreflecttheoverallfinancialpositionoftheGroup'sbusiness,operatingresultsandcashflow.TheaccountingpoliciesandaccountingperiodadoptedbythesubsidiariestakenintoaccountoftheconsolidationscopeareinlinewiththeCompany.IfitisnotthesameastheCompany,necessaryadjustmentswillbemadewhenpreparingconsolidatedfinancialstatementsaccordingtotheaccountingpolicyandaccountingperiodoftheCompany.Forthesubsidiariesacquiredthroughbusinesscombinationunderuncommoncontrol,financialstatementsshallbeadjustedbasedonthefairvalueoftheidentifiablenetassetsonacquiringdate.Forthesubsidiariesacquiredthroughbusinesscombinationundercommoncontrol,itsassetsandliabilities(includinggoodwillformedfromultimatecontrollingpartyacquiringthesubsidiaryto)shallbeadjustedbasedonthebookvalueinthefinancialstatementsoftheultimatecontrollingparty.Subsidiary'sequity,currentnetprofitsorlossesandcurrentcomprehensiveincomebelongingtominorityshareholdersshallbelistedrespectivelyunderitemofowners’equityintheconsolidatedbalancesheet,itemofnetprofitinprofitsheetanditemoftotalcomprehensiveincome.Currentlossminorityshareholdersofasubsidiaryexceedtheminorityshareholdersinthesubsidiary'sopeningowners'equityshareandtheformationofbalance,offsetagainstminorityinterests.
(1)Increaseofsubsidiaryorbusiness
Duringthereportingperiod,themergeroftheenterprisesunderthesamecontrolresultsinadditionalsubsidiariesorbusiness,thenadjusttheopeningamountofconsolidatedbalancesheet;income,expensesandprofitofthesubsidiariesorbusinessfrombeginningtotheendofthereportingshallbeincludedintheconsolidatedprofitstatement;cashflowsofthesubsidiariesorbusinessfrombeginningtotheendofreportingperiodshallbeincludedintotheconsolidatedcashflowstatement.Andrelevantcomparativeitemsofcomparablestatementshallbeadjustedsincereportingentityiscontrolledbytheultimatecontroller.Ifadditionalinvestmentandotherreasonscanleadinvesteetobecontrolledunderthesamecontrol,allpartiesshallbeadjustedatthebeginningwhentheultimatecontrollingpartystartscontrol.Equityinvestmentsmadebeforeobtainingcontrollingright,relevantgainsandlossesandothercomprehensiveincomeaswellasotherchangesinnetassetsconfirmedduringthelatterdatebetweenpointobtainingoriginalequityandcombinedpartyandcombineeunderthesamecontroldaytothecombinedday,shallbeoffsetagainsttheretainedearningsorprofitorlossofthecomparativereportingperiod.Duringthereportingperiod,openingamountofconsolidatedbalancesheetshallnotbeadjustedsinceenterpriseunderdifferentcontrolcombineorincreaseholdingofsubsidiaryorbusiness;theincome,expenseandprofitofthesubsidiariesorbusinessfromtheacquisitiondatetotheendofreportingperiodshallbeincludedintheconsolidatedprofitstatement;whilecashflowsshallbeincludedintotheconsolidatedcashflowstatement.Equityheldfrominvesteebeforeacquisitiondateshallbemeasuredatfairvalueofacquisitiondateifadditionalinvestmentandotherreasonscanleadinvesteetobecontrolledunderthesamecontrol.Differencebetweenthefairvalueandthebookvalueisrecognizedasinvestmentincome.othercomprehensiveincomeandotherowners'equityexceptfornetprofitorloss,othercomprehensiveincomeandthedistributionofprofitsrelatedtoequityheldfrominvesteebeforeacquisitiondate,aswellasrelevantothercomprehensiveincomeassociatedwithallotherbychangesinequityshallbeincludedincurrentinvestmentincome,exceptforothercomprehensiveincomearisingfromchangeofnetassetsornetliabilitiesredefinedbyinvestee.
(2)Disposalofsubsidiariesorbusiness
①ThegeneralapproachDuringthereportingperiod,theCompanycarryoutdisposalofsubsidiariesorbusiness,revenue,expenseandprofitofthesubsidiaryorbusinessincludedintheconsolidatedprofitstatementfromthebeginningtothedisposaldate;whilethecashflowintocashflowtable.Iflosingcontrollingrighttoinvesteeduetodisposalofpartialequity,theremainingequityafterthedisposalshallbere-measuredatfairvalueatthedatewhencontrolislost.Priceofequitydisposalplusfairvalueoftheremainingequity,thensubtractingnetassetsheldfromtheformersubsidiaryfromtheacquisitiondateorcombinationdateinitiallymeasuredinaccordancewithoriginalstakeandgoodwill,thedifferenceshallbeincludedininvestmentincomeoftheperiodlosingcontrollingright.othercomprehensiveincomeandotherowners'equityexceptfornetprofitorloss,othercomprehensiveincomeandthedistributionofprofitsrelatedto
equityheldfrominvesteebeforeacquisitiondate,aswellasrelevantothercomprehensiveincomeassociatedwithallotherbychangesinequityshallbeincludedincurrentinvestmentincome,exceptforothercomprehensiveincomearisingfromchangeofnetassetsornetliabilitiesredefinedbyinvestee.IftheCompany’sshareholdingratiodeclinesandthuslosesthecontrolpowerduetootherinvestors’capitalincreaseinthesubsidiaries,accountingtreatmentshallbeconductedinaccordancewiththeaboveprinciples.
②StepdisposalofsubsidiariesAsmultipletransactionsoverdisposalofthesubsidiary'sequityleadtolossofcontrollingright,ifthetermsofthetransaction,situationandeconomicimpactsubjecttooneoraboveofthefollowingconditions,usuallyitindicatesrepeatedtransactionsshouldbeaccountedforasapackagedeal:
i.Thesetransactionsaremadeconsideringatthesametimeorinthecaseofmutualimpact;ii.Thesetransactionsonlyreachacompletebusinessresultswhenasawhole;iii.Atransactionoccursdependingontheoccurrenceofatleastoneothertransaction;iv.Singletransactionisnoteconomical,butconsideredtogetherwithothertransactionsitiseconomical.Ifdisposalofequityinsubsidiariesleadthelossofcontrolandthetransactionscanbeseenasapackagedeal,theCompanywilltakeaccountingtreatmentofthetransaction;however,beforethelossofcontrolthedifferencebetweenthedisposalpriceandthecorrespondingnetassetsofthesubsidiary,recognizedasothercomprehensiveincomeintheconsolidatedfinancialstatements,intocurrentprofitandlossatcurrentperiodwhenlosingcontrollingright.Ifdisposalofequityinsubsidiariesleadthelossofcontrolandthetransactionsdoesn’tformapackagedeal,equityheldfromsubsidiaryshallbeaccountedinaccordancewithrelevantrulesbeforelosingcontrollingright,whileinaccordancewithgeneralaccountingtreatmentwhenlosingcontrollingright.
(3)PurchaseofaminoritystakeinthesubsidiaryLong-termequityinvestmentoftheCompanyforthepurchaseofminorityinterestsinaccordancewiththenewlyacquiredstakeinthenewcalculationshallbeentitledtothedifferencebetweenthenetassetsfromtheacquisitiondate(orcombinationdate)initiallymeasuredbetweentheconsolidatedbalancesheetadjustmentcapitalbalanceofthesharepremiuminthecapitalreservesharepremiuminsufficient,anyexcessisadjustedtoretainedearnings.
(4)DisposalofequityinsubsidiarywithoutlosingcontrolDisposalpriceanddisposaloflong-termequityinvestmentwithoutalossofcontrolduetopartialdisposalofsubsidiariesandlong-termequityinvestmentmadebetweentherelativenetassetsfromthepurchasedateorthedateofmergerwereinitiallymeasuredatthedifferencebetweenthesubsidiaryshallenjoy,theconsolidatedbalancesheetadjustmentinthebalanceofthesharepremium,capitalbalanceofthesharepremiuminsufficient,anyexcessisadjustedtoretainedearnings.
7.ClassificationofjointventurearrangementandaccountingforjointoperationsJointventurearrangementsaredividedintojointoperationsandjointventures.WhentheCompanyisajointventurepartyofajointventurearrangementandenjoystherelevantassetsofthearrangementandbearstheliabilitiesrelatedtothearrangement,itisajointoperation.TheCompanyrecognizesitsproportionofinterestsinjointoperationasrelatedtotheCompany,andaccountsforunderrelevantbusinessaccountingprinciples:
(1)Torecognizeseparately-heldassetsandjointly-heldassetsunderitsproportion;
(2)Torecognizeseparately-assumedliabilitiesandjointly-assumedliabilitiesunderitsproportion;
(3)TorecognizerevenuefromdisposaloftheoutputwhichtheCompanyisentitledtoundertheproportion;
(4)Torecognizerevenuefromdisposaloftheoutputundertheproportion;
(5)Torecognizeseparatelyoccurredexpenses,andtorecognizeexpensesoccurredforjointoperationsunderitsproportion.
8.RecognitionstandardsforcashandcashequivalentsWhenpreparingcashflowstatement,theCompanyrecognizedthestockcashanddepositsavailableforpaymentatanytimeascash,andinvestmentsfeaturingwiththefollowingfourcharactersatthesametimeascashequivalents:shortterm(expirewithin3monthscommencingfrompurchaseday),activeliquidity,easytoconverttoalready-knowncash,andsmallvaluechangerisks.
9.Foreigncurrencybusinessandconversionofforeigncurrencystatement
(1)ForeigncurrencybusinessTheforeigncurrencybusinessusesthespotexchangerateonthetransactiondateastheconversionratetoconverttheforeigncurrencyamountintoRMB.Thebalanceofforeigncurrencymonetaryitemsonthebalancesheetdateisconvertedatthespotexchangerateonthebalancesheetdate.Theresultingexchangedifferences,exceptthatthebalanceofexchangegeneratedfromtheforeigncurrencyspecialborrowingsrelatedtotheassetswhoseacquisitionandconstructionareeligibleforcapitalizationisdisposedinaccordancewiththeprincipleofborrowingcostscapitalization,areincludedinthecurrentprofitandloss.
(2)ConversionofforeigncurrencyfinancialstatementsAssetsandliabilitiesinthebalancesheetareconvertedatthespotexchangerateonthebalancesheetdate;exceptforthe“undistributedprofit”item,otheritemsoftheowner'sequityitemsareconvertedatthespotexchangerateatthetimeofoccurrence.Incomeandexpenseitemsintheincomestatementareconvertedatthespotexchange
rateonthetransactiondate.Whendisposinganoverseasoperation,thetranslationdifferenceoftheforeigncurrencyfinancialstatementsrelatedtotheoverseasoperationistransferredfromtheowner'sequityitemstothedisposalofthecurrentprofitandloss.
10.FinancialinstrumentsFinancialinstrumentsincludefinancialassets,financialliabilitiesandequityinstruments.
(1)CategoriesoffinancialinstrumentsAccordingtothebusinessmodelofmanagingfinancialassetsandthecontractualcashflowcharacteristicsoffinancialassets,atinitialrecognition,theCompanyclassifiesthefinancialassetsintothefinancialassetsmeasuredatamortizedcost,thefinancialassets(debtinstrument)measuredatfairvalueandwhosechangesareincludedinothercomprehensiveincome,andthefinancialassetsmeasuredatfairvalueandwhosechangesareincludedincurrentgainorloss.Thefinancialassetsofwhichthebusinessmodelaimsatthecollectionofcontractualcashflowandthecontractualcashflowisonlythepaymentoftheprincipalandtheinterestbasedontheoutstandingprincipalamountareclassifiedasfinancialassetsmeasuredatamortizedcost.Thefinancialassetsofwhichthebusinessmodelaimsnotonlyatthecollectionofcontractualcashflowbutalsoatsellingthefinancialassetsandthecontractualcashflowisonlythepaymentoftheprincipalandtheinterestbasedontheoutstandingprincipalamountareclassifiedasfinancialassetsmeasuredatfairvalueandwhosechangesareincludedinothercomprehensiveincome(debtinstruments).Otherfinancialassetsotherthanthisareclassifiedasfinancialassetsmeasuredatfairvalueandwhosechangesareincludedincurrentprofitandloss.Fornon-tradingequityinstrumentinvestment,theCompanydetermineswhetheritisdesignatedasafinancialasset(equityinstrument)measuredatfairvalueandwhosechangesareincludedinothercomprehensiveincomeattheinitialrecognition.Intheinitialrecognition,inordertoeliminateorsignificantlyreduceaccountingmismatches,financialassetscanbedesignatedasfinancialassetsmeasuredatfairvalueandwhosechangesareincludedincurrentprofitandloss.Intheinitialrecognition,financialliabilitiesareclassifiedasthefinancialliabilitiesmeasuredatfairvalueandwhosechangesareincludedincurrentprofitandlossandthefinancialliabilitiesmeasuredatamortizedcost.Financialliabilitiesthatmeetoneofthefollowingconditionscanbedesignatedasfinancialliabilitiesmeasuredatfairvalueandwhosechangesareincludedincurrentprofitandlossintheinitialmeasurement:
1)Thedesignationcaneliminateorsignificantlyreduceaccountingmismatches.
2)Accordingtotheenterpriseriskmanagementorinvestmentstrategyspecifiedintheofficialwrittendocument,manageandmakeperformanceevaluationofthefinancialliabilityportfolioorfinancialassetsandfinancialliabilityportfoliobasedonfairvalue,andreporttothekeymanagementpersonnelbasedonthis.
3)Thefinancialliabilityincludesembeddedderivativesthatneedtobeseparatelysplit.
(2)Recognitionandmeasurementforfinancialinstrument
1)FinancialassetsmeasuredatamortizedcostFinancialassetsmeasuredatamortizedcostincludenotesreceivable,accountsreceivable,otherreceivables,long-termreceivables,anddebtinvestment,whichareinitiallymeasuredatfairvalue,andrelatedtransactioncostsareincludedintheinitialrecognitionamount.TheaccountsreceivablenotincludingmajorfinancingcomponentsandtheaccountsreceivablethattheCompanydecidesnottoconsiderthefinancingcomponentofnotmorethanoneyearareinitiallymeasuredatthecontracttransactionprice.Interestcalculatedbytheeffectiveinterestmethodduringtheholdingperiodisincludedinthecurrentprofitandloss.Whenrecoveringordisposing,thedifferencebetweenthepriceobtainedandthebookvalueofthefinancialassetisincludedinthecurrentprofitandloss.
2)Financialassets(debtinstruments)measuredatfairvalueandwhosechangesareincludedinothercomprehensiveincomeFinancialassets(debtinstruments)measuredatfairvalueandwhosechangesareincludedinothercomprehensiveincome,includingreceivablesfinancing,otherdebtinvestment,etc.,areinitiallymeasuredatfairvalue,andrelatedtransactionexpensesareincludedintheinitialrecognitionamount.Thefinancialassetsaresubsequentlymeasuredatfairvalue,thechangesinfairvalueareincludedinothercomprehensiveincomeexceptforinterest,impairmentlossesorgainsandexchangegainsandlossescalculatedbyusingtheeffectiveinterestmethod.Whenafinancialassetisterminatedforrecognition,theaccumulatedgainorlosspreviouslyincludedinothercomprehensiveincomeistransferredfromothercomprehensiveincomeandincludedincurrentprofitandloss.
3)Financialassets(equityinstruments)measuredatfairvalueandwhosechangesareincludedinothercomprehensiveincomeFinancialassets(equityinstruments)measuredatfairvalueandwhosechangesareincludedinothercomprehensiveincome,includingotherequityinstruments,etc.,areinitiallymeasuredatfairvalue,andrelatedtransactionexpensesareincludedintheinitiallyrecognizedamount.Thefinancialassetsaresubsequentlymeasuredatfairvalue,andchangesinfairvalueareincludedinothercomprehensiveincome.Thedividendsobtainedareincludedinthecurrentprofitsandlosses.
Whenafinancialassetisterminatedforrecognition,theaccumulatedgainorlosspreviouslyincludedinothercomprehensiveincomeistransferredfromothercomprehensiveincomeandincludedinretainedearnings.
4)FinancialassetsmeasuredatfairvalueandwhosechangesareincludedincurrentprofitandlossFinancialassetsmeasuredatfairvalueandwhosechangesareincludedincurrentprofitandloss,includingTradablefinancialassets,derivativefinancialassetsandothernon-currentfinancialassets,etc.,areinitiallymeasuredatfairvalue,andrelatedtransactionexpensesareincludedintheinitialrecognitionamount.Thefinancialassetsaresubsequentlymeasuredatfairvalue,andchangesinfairvaluearerecognizedincurrentprofitandloss.
5)FinancialliabilitiesmeasuredatfairvalueandwhosechangesareincludedincurrentprofitandlossFinancialliabilitiesmeasuredatfairvalueandwhosechangesareincludedincurrentprofitandloss,includingtransactionfinancialliabilities,derivativefinancialliabilities,etc.,areinitiallymeasuredatfairvalue,andrelatedtransactionexpensesareincludedincurrentprofitandloss.Thefinancialliabilitiesaresubsequentlymeasuredatfairvalue,andchangesinfairvalueareincludedincurrentprofitandloss.Whenafinancialliabilityisterminateforrecognition,thedifferencebetweenbookvalueandtheconsiderationpaidshallberecordedintothecurrentprofitandloss.
6)FinancialliabilitiesmeasuredatamortizedcostFinancialliabilitiesmeasuredatamortizedcost,includingshort-termborrowings,billspayable,accountspayable,otherpayable,long-termborrowings,bondspayable,andlong-termpayable,areinitiallymeasuredatfairvalue,andrelatedtransactionexpensesareincludedintheinitialrecognitionamount.Interestcalculatedbytheeffectiveinterestmethodduringtheholdingperiodisincludedinthecurrentprofitandloss.Whenafinancialliabilityisterminateforrecognition,thedifferencebetweentheconsiderationpaidandthebookvalueofthefinancialliabilityisincludedincurrentprofitandloss.
(3)RecognitionevidenceandmeasurementmethodsfortransferoffinancialassetsWhentransferoffinancialassetsoccurs,theCompanyshallstoprecognitionofsuchfinancialassetsifallrisksandremunerationsrelatedtoownershipofsuchfinancialassetshavealmostbeentransferredtothereceiver;whileshallcontinuetorecognizesuchfinancialassetsifallrisksandremunerationsrelatedtoownershipofsuchfinancialassetshavealmostbeenretained.Whenjudgingwhetherornottheaforesaidterminalrecognitionconditionforfinancialassetsisarrivedatfortransferoffinancialassets,theCompanygenerallyadoptstheprinciplethatsubstanceoverweighsformat.
TheCompanydividessuchtransferintoentiretransferandparttransfer.Asfortheentiretransfermeetingconditionfordiscontinuedrecognition,balancebetweenthefollowingtwoitemsisrecordedincurrentgainsandlosses:
1)Carryingvalueoffinancialassetsintransfer;
2)Aggregateoftheconsiderationreceivedfromtransferandaccumulativemovementsoffairvalueoriginallyrecordedinowners’equitydirectly(applicablewhenfinancialassetsinvolvedintransferbelongtofinancialassetsavailableforsale).Asfortheparttransfermeetingconditionfordiscontinuedrecognition,entirecarryingvalueoffinancialassetsintransferissharedbydiscontinuedrecognitionpartandcontinuedrecognitionpart,inlightoftheirrespectivefairvalue.Balancebetweenthefollowingtwoitemsisrecordedincurrentgainsandlosses:
1)Carryingvalueofdiscontinuedrecognitionpart;
2)Aggregateoftheconsiderationofdiscontinuedrecognitionpartandamountofsuchpartattributabletoaccumulativemovementsoffairvalueoriginallyrecordedinowners’equitydirectly(applicablewhenfinancialassetsinvolvedintransferbelongtofinancialassets(debtinstrument)measuredatfairvalueandwhosechangesareincludedinothercomprehensiveincomeandthefinancialassetsavailableforsale).Financialassetsarestillsubjecttorecognitioniftransferofsuchassetsdoesn’tsatisfytheconditionfordiscontinuedrecognition.Andconsiderationreceivedisrecognizedasfinancialliability.
(4)ConditionforterminatingtherecognitionoffinancialliabilityAsforthefinancialliabilitieswithitswholeorpartpresentobligationsreleased,thecompanyshallterminatetherecognitionforsuchfinancialliabilitiesorpartofit.ifthecompanyentersintoagreementwithitscreditortosubstitutefortheexistingfinancialliabilitiesbymeansofassumingnewfinancialliabilities,thenthecompanyshallterminatetherecognitionfortheexistingfinancialliabilitiesandrecognizedthenewfinancialliabilitiesprovidedthatthecontractclausesofthenewandtheexistingfinancialliabilitiesaredifferentinsubstance.Ifthecompanymakessubstantialamendmenttothewholeorpartcontractclausesoftheexistingfinancialliabilities,itshallterminatetherecognitionfortheexistingfinancialliabilitiesorpartofit.Meanwhile,thefinancialliabilitieswithamendmenttoitsclausesshallberealizedasnewfinancialliabilities.Incaseofterminatetherecognitionoffinancialliabilitiesinwholeorpart,thedifferencebetweenthecarryingvalueofsuchfinancialliabilitiesandconsiderationpaid(includingthenon-cashassetsexchangedornewfinancialliabilitiesassumed)shallberecordedincurrentgainsandlosses.Incasethatthecompanyrepurchasespartoffinancialliabilities,basedonthecomparativefairvalueofthecontinuingrecognitionpartandthederecognizingpart,thecompanyshallallocatethecarryingvalueofthefinancialliabilitiesinwholeontherepurchasedate.Differencebetweenthecarryingvalueallocatedtothederecognizingpartandtheconsiderationpaid(includingthenon-cashassetsexchangedornewfinancialliabilitiesassumed)shallberecordedincurrentgainsandlosses.
(5)RecognitionmethodforfairvalueoffinancialassetsandfinancialliabilitiesAsforthefinancialinstrumentwithanactivemarket,thefairvalueisdeterminedbytheofferoftheactivemarket;thereisnoactivemarketforafinancialinstrument,thevaluationtechniquestodetermineitsfairvalue.Atthetimeofvaluation,theCompanyadoptedapplicableinthepresentcaseandthereisenoughavailabledataandotherinformationtechnologytosupportvaluation,assetsorliabilitiesoffeatureselectionandmarketparticipantsinthetradingoftheunderlyingassetorliabilityconsideredconsistentinputvalueandpriorityastherelevantobservableinputs.Whererelevantobservableinputscannotgetordonotgetasfaraspracticable,theuseofun-observableinputs.
(6)TestingofthefinancialassetsimpairmentandaccountingtreatmentTheCompanyconsidersallreasonableandevidence-basedinformation,includingforward-lookinginformation,andestimatestheexpectedcreditlossesofthefinancialassetsmeasuredatamortizedcostandthefinancialassets(debtinstruments)measuredatfairvalueandwhosechangesareincludedinothercomprehensiveincomeonasingleorcombinationmode.Themeasurementofexpectedcreditlossesdependsonwhetherthecreditrisksoffinancialassetshaveincreasedsignificantlysincetheinitialrecognition.Ifthecreditriskofthefinancialinstrumenthasincreasedsignificantlysincetheinitialrecognition,theCompanymeasuresitslossprovisionbasedontheamountequivalenttotheexpectedcreditlossesfortheentiredurationofthefinancialinstrument;ifthecreditriskofthefinancialinstrumenthasnotincreasedsignificantlysincetheinitialrecognition,theCompanymeasuresitslossprovisionbasedontheamountequivalenttotheexpectedcreditlossesofthefinancialinstrumentinthenext12months.Theincreaseorreversalamountoftheresultinglossprovisionisincludedinthecurrentprofitandlossasanimpairmentlossorgain.Usually,ifitsoverdueformorethan30days,theCompanyshallbelievethatthecreditriskofthefinancialinstrumenthasincreasedsignificantly,unlessthereisconclusiveevidencethatthecreditriskofthefinancialinstrumenthasnotincreasedsignificantlysincetheinitialrecognition.Ifthefinancialinstrument'screditriskatthebalancesheetdateislow,theCompanyshallbelievethatthecreditriskofthefinancialinstrumenthasnotincreasedsignificantlysincetheinitialrecognition.Ifthereisobjectiveevidencethatafinancialassethassufferedcreditimpairment,theCompanyshallmakeprovisionforimpairmentofthefinancialassetonasinglebasis.TheCompanyneedstoconfirmthatthefinancialinstrumentsofimpairmentlossesarefinancialassets(includingreceivables)measuredatamortizedcost,debtinstrumentinvestmentsmeasuredatfairvalueandtheirchangesareincludedinothercomprehensiveincome,andleasereceivables,mainlyincludingbillsreceivable,accountsreceivable,otherreceivables,Creditors’investment,Othercreditors’investment,long-termreceivables,etc.Inaddition,forsomefinancialguaranteecontracts,impairmentprovisionandcreditimpairmentlossesshouldbe
accruedinaccordancewiththeaccountingpoliciesdescribedinthissection.Regardinganaccountreceivable,whetherornotitcontainsasignificantfinancingcomponent,theCompanyalwaysmeasuresitslossprovisionsinaccordancewiththeexpectedcreditlossesfortheentireduration.Forleasereceivables,long-termreceivablesformedbythecompanythroughthesaleofcommoditiesortheprovisionoflaborservices,theCompanychoosestoalwaysmeasuretheirlossreservesinaccordancewiththeexpectedcreditlossesfortheentireduration.TheCompanycombinesaccountreceivablesbysimilarcreditriskcharacteristics,basedonthefinancialassetportfoliostructureandsimilarcreditriskcharacteristics(thedebtor’sabilitytorepaythearrearsinaccordancewiththecontractterms),combinedwithhistoricaldefaultlossexperienceandcurrenteconomicconditionsandconsideringforward-lookinginformation,andmeasuresthelossprovisionatanamountequivalenttotheexpectedcreditlossesfortheentireduration.
11.Notereceivable
Referenceto10.FinancialInstrumentinthisSection
12.Accountreceivable
Referenceto10.FinancialInstrumentinthisSection
13.AccountreceivablefinancingNil
14.Otheraccountreceivable
DeterminingmethodandaccountingtreatmentontheexpectedcreditlossofotheraccountreceivableReferenceto10.FinancialInstrumentinthisSection
15.Inventory
(1)ClassificationInventoryincludesrawmaterials,revolvingmaterial,goodsinprocess,goodsintransitandworkinprocess-outsourcedandsoon.
(2)ValuationmethodsfordeliveryofinventoryTheweightedaverageorindividualvaluationmethodisusedwhentheinventoryisissuedaccordingtothenatureofthebusiness.
(3)RecognitionstandardsofthenetrealizablevalueforinventoryThenetrealizablevalueofinventoryproductsandmaterialsforsale,innormalbusinessproduction,ismeasuredastheresidualvalueafterdeductingtheestimatedsalesexpenseandrelatedtaxesandfeesfromtheestimatedsellingprice;thenetrealizablevalueofanitemofinventoriessubjecttofurtherprocessing,innormalbusinessproduction,ismeasuredastheresidualvalueafterdeductingthesumoftheestimatedcostsofcompletion,salesexpenseandrelatedtaxesandfeesfromtheestimatedsellingpriceofthefor-saleitem.Thenetrealizablevalueofthequantityofinventoriesheldtosatisfyfirmsalesorservicecontractsisbasedonthecontractprice.Ifthesalescontractsareforlessthantheinventoryquantitiesheld,thenetrealizablevalueoftheexcessisbasedongeneralsellingprices.Animpairmentallowance,ifany,isgenerallyindividuallyrecognizedforeachtypeofinventoriesatperiod-endexcept:Foranindividualimpairmentallowance,ifany,isrecognizedforthewholecategoryofinventoriesoflowvalueandlargequantities;andforanindividualimpairmentallowance,ifany,isrecognizedforagroupofinventories,whichareheldfortheproductionandsalesofproductsofasingleterritoryandforidenticalorsimilarusagesorpurposes,andwhichareindistinguishablefromothertypesofinventorieswithinthegroup.Exceptthatthereisclearevidenceindicatesthatthemarketpriceonthebalancesheetdateisabnormal,thenetrealizablevalueoftheinventoryitemisdeterminedbasedonthemarketpriceatthebalancesheetdate.Thenetrealizablevalueoftheinventoryitemsattheendoftheperiodisdeterminedbasedonthemarketpriceatthebalancesheetdate.
(4)InventorysystemInventorysystemistheperpetualinventorysystem.
(5)Amortizationoflow-valueconsumablesandpackagingmaterials
1)Low-valueconsumablesadoptsthemethodofprimaryresale;
2)Wrappageadoptsthemethodofprimaryresale.
16.Contractualasset
17.Contractcost
18.Assetsheldforsale
Nil
19.Creditors’investment
Nil
20.Othercreditors’investmentNil
21.Long-termaccountreceivableNil
22.Long-termequityinvestment
(1)CriteriaforjudgmentofthecommoncontrolandsignificantinfluenceCommoncontrolreferstothecontrolthatiscommontoanarrangementinaccordancewiththerelevantagreement,andtherelevantactivitiesofthearrangementmustbeagreeduponbytheparticipantssharingthecontrolrightsbeforemakingadecision.WheretheCompanyandotherjointventurepartiesjointlycontroltheinvestedentityandhaverightstothenetassetsoftheinvestedentity,theinvestedentityisthejointventureoftheCompany.Significantinfluencereferstotherighttoparticipateinmakingdecisionsrelatingtothefinancialandoperationalpoliciesofanenterprise,whilenotabletocontrolorjointlycontrol(withothers)establishmentofthesepolicies.IftheCompanyhassignificantinfluenceontheinvestedenterprises,thansuchinvestedenterprisesshallbethejointventureoftheCompany.
(2)Determinationofinitialinvestmentcost
1)Long-termequityinvestmentformedbybusinesscombinationBusinesscombinationunderthesamecontrol:Ifthecompanypayscash,transfersnon-cashassetsorassumesdebts,andissuesequitysecuritiesasthemergerconsideration,theshareofthebookvalueoftheacquiredowner'sequityofthemergedpartyintheconsolidatedfinancialstatementsoftheultimatecontrollingpartyistakenastheinitialinvestmentcostofthelong-termequityinvestmentonthemergerdate.Ifitispossibletoexercisecontrolovertheinvesteeunderthesamecontrolduetoadditionalinvestment,etc.,theinitialinvestmentcostofthelong-termequityinvestmentshallbedeterminedaccordingtotheshareofthebookvalueofthenetassetsofthemergedpartyintheconsolidatedfinancialstatementsoftheultimatecontrollingpartyonthemergerdate.Theequitypremiumisadjustedbasedonthedifferencebetweentheinitialinvestmentcostofthelong-termequityinvestmentonthecombinationdateandthebookvalueofthelong-termequityinvestmentbeforethemergerplusthebookvalueofthenewpaymentconsiderationforstockfurtherobtainedonthemergerdate,iftheequitypremiumisinsufficienttobeoffset,offsettheretainedearnings.Businesscombinationnotunderthesamecontrol:Thecompanytakethemergercostdeterminedonthepurchasedateastheinitialinvestmentcostofthelong-termequityinvestment.Ifitispossibletocontroltheinvesteeunderthesamecontrolduetoadditionalinvestment,etc.,theinitialinvestmentcostcalculatedbythecostmethodiscalculatedaccordingtothesumofthebookvalueoftheoriginalequityinvestmentplusthenewinvestmentcost.
2)Long-termequityinvestmentrequiredbyotherways
Forlong-termequityinvestmentsobtainedthroughpaymentwithcash,thentheactualpaymentshallbeviewedasinitialinvestmentcost.Forlong-termequityinvestmentsobtainedthroughissuanceofequitysecurities,thenthefairvalueofsuchsecuritiesshallbeviewedasinitialinvestmentcostWhentheexchangeofnon-monetaryassetshascommercialsubstanceandthefairvalueoftheassetsswappedinorswappedoutcanbereliablymeasured,thefairvalueshallbeusedasthebasisformeasurement.Ifthefairvalueoftheswap-inassetsandtheswap-outassetscanbereliablymeasured,forthelong-termequityinvestmentthatisswappedin,thefairvalueoftheswap-outassetsandtherelevanttaxespayableshallbeusedastheinitialinvestmentcostofthelong-termequityinvestmentthatisswappedin,unlessthereisconclusiveevidencethatthefairvalueoftheassetsswappedinismorereliable.Iftheexchangeofnon-monetaryassetsdoesnothavecommercialsubstance,orthefairvalueoftheassetsswappedinorswappedoutcannotbereliablymeasured,forthelong-termequityinvestmentsswappedin,thebookvalueoftheswap-outassetsandtherelevanttaxesandfeespayableshallbeusedastheinitialinvestmentcostofthelong-termequityinvestment.Forlong-termequityinvestmentobtainedthroughdebtrestructuring,theentryvalueisdeterminedbythefairvalueoftheabandonedcreditor'srightandthetaxesdirectlyattributabletotheassetandothercost,andthedifferencebetweenthefairvalueoftheabandonedcreditor'srightandthebookvalueisincludedincurrentprofitandloss.
(3)Subsequentmeasurementandrecognitionofgainsandlosses
1)Long-termequityinvestmentmeasuredbycostThelong-termequityinvestmentforsubsidiaryshallbemeasuredbycost.Otherthanpaymentactuallypaidforobtaininginvestmentorcashdividendorprofitincludedinconsiderationwhichhasbeendeclaredwhilenotgrantedyet,theCompanyrecognizesinvestmentincomeaccordingtoitsshareinthecashdividendorprofitdeclaredforgrantbytheinvestedunit.
2)Long-termequityinvestmentmeasuredbyequityTheCompanycalculateslongtermequityinvestmentinassociatesandjointventuresunderequitymethod.Wheretheinitialinvestmentcostofalong-termequityinvestmentexceedstheGroup’sshareofthefairvalueoftheinvestee’sidentifiablenetassetsatthetimeofacquisition,noadjustmentismadetotheinitialinvestmentcost.WheretheinitialinvestmentcostislessthantheGroup’sshareofthefairvalueoftheinvestee’sidentifiablenetassetsatthetimeofacquisition,thedifferenceisrecognizedinprofitorlossfortheperiod.Returnoninvestmentsandothercomprehensiveincomeisrecognizedrespectivelybysharesofnetgainsandlossesrealizedbytheinvestedcompanyandothercomprehensiveincome,andbookvalueofsuchinvestmentisadjustedaccordingly.Profitorcashdividendsproratadistributedbytheinvestedcompanyaretominusbookvalueoftherelativelong-terminvestment.Bookvalueoflong-terminvestmentisadjustedwhenchangesoccur
otherthannetgainsandlosses,othercomprehensiveincomeandprofitdistributionoftheinvestedcompany,andistoreportinowners’equityaccordingly.TheCompanyshouldrecognizednetprofitofinvestedunitafteradjustmentaccordingtotheaccountingpolicyandperiodoftheCompany,basedonfairvalueofvaryidentifiableassetsofinvestedunitwhileobtainedinvestment,whilerecognizednetprofitornetlossesofinvestedunitsthatshouldbeenjoybyinvestmententerprise.Duringtheperiodofholdingtheinvestment,iftheinvesteepreparestheconsolidatedfinancialstatement,itshallbeaccountedforabasedonthenetprofit,othercomprehensiveincomeandtheamountattributabletotheinvesteeinchangesintheotherowner'sequityintheconsolidatedfinancialstatements.Theun-realizedtransactiongains/lossesattributabletoinvestmententerprise,internallyoccurredbetweentheCompany,affiliatedunitsandjoint-venturesshouldcalculatedbyproportionofshares-holdingwhichshouldbeoffset,thanrecognizedinvestmentgains/losses.Iftheunrealizedinternaltransactionlosseswiththeinvesteeareassetsimpairmentlosses,theywillbefullyrecognized.Ifatransactionofinvestingorsellingassetsoccursbetweenthecompanyandanassociateenterpriseorjointventure,andtheassetsconstituteabusiness,theaccountingtreatmentshallbehandledinaccordancewithrelevantpolicypoliciesdisclosedintheNotes“V.AccountingTreatmentMethodsforBusinessCombinationsUndertheSameControlandNotUndertheSameControl”and“VI.MethodsforPreparingCombinedFinancialStatements”.WhentheCompanyisconfirmedtosharelossesoftheinvestedunits,thefollowingordershallprevailfordisposal:firstofall,offsetcarryingvalueoflong-termequityinvestment.Second,forlong-termequityinvestmentwhosecarryingvalueisnotenoughforoffset,investmentlossshouldbecontinuedtorecognizewithinthelimitofcarryingvalueofotherlong-termequitywhichsubstantiallyformsnetinvestmenttoinvestedunits,tooffsetcarryingvalueoflong-termitemsreceivable.Atlast,aftertheaforesaidtreatment,ifenterprisestillbearsadditionaldutiesaccordingtoinvestmentcontractoragreement,projectedliabilitiesarerecognizedinaccordancetotheobligationswhichareexpectedtoundertake,andthenrecordedincurrentgainsandlosses.
3)Disposaloflong-termequityinvestmentDifferencebetweencarryingvalueandactualacquisitionpriceinrespectofdisposaloflongtermequityinvestmentshallbeincludedincurrentperiodgainsandlosses.Forlongtermequityinvestmentunderequitymethod,theCompanyshalladoptthesamebasisastheinvesteedirectlydisposesrelevantassetsorliabilitieswhendisposingthisinvestment,andaccountforthepartoriginallyincludedinothercomprehensiveincomeunderappropriateproportion.Theowner'sequityrecognizedasaresultofchangesintheowner'sequityotherthanthenetprofitorloss,othercomprehensiveincomeandprofitdistributionoftheinvesteeiscarriedforwardtothecurrentprofitandlossinproportion,exceptforothercomprehensiveincomearisingfromchangesinnetliabilitiesornetassetsastheinvesteere-measuresthedefinedbenefitplans.
Ifthejointcontrolorsignificantinfluenceontheinvesteeislostduetothedisposalofpartoftheequityinvestment,etc.,theremainingequityafterdisposalshallbeaccountedforaccordingtotherecognitionandmeasurementstandardoffinancialinstruments,andthedifferencebetweenthefairvalueandthebookvalueofthedaylosingthejointcontrolorsignificantimpactisincludedinthecurrentprofitandloss.Forothercomprehensiveincomeasrecognizedunderequitymethodinrespectoftheoriginalequityinvestment,whentheCompanyceasescalculationunderequitymethod,theaforesaidincomeshallbeaccountedforonthesamebasisastheinvesteewouldotherwiseadoptwhenitdirectlydisposesrelevantassetsorliabilities.Theowner'sequityrecognizedasaresultofchangesintheowner'sequityotherthanthenetprofitorloss,othercomprehensiveincomeandprofitdistributionoftheinvesteeiscarriedforwardtothecurrentprofitandlosswhentheequitymethodisterminatedtobeusedforbusinessaccounting.TheCompanylosesthecontrolovertheinvesteeduetothedecreaseinshareholdingratiocausedbythedisposalofpartoftheequityinvestmentorotherinvestors'capitalincreaseinthesubsidiary,iftheremainingequitycanimplementjointcontrolorsignificantinfluenceontheinvestee,itshallbeaccountedforaccordingtotheequitymethodwhenpreparingindividualfinancialstatements,andtheremainingequityshallbeadjustedasifitwasaccountedforaccordingtotheequitymethodsinceobtained.Iftheremainingequitycannotimplementjointcontrolorsignificantinfluenceontheinvestee,itshallbeaccountedforaccordingtorelevantprovisionsoftherecognitionandmeasurementstandardoffinancialinstruments,andthedifferencebetweenthefairvalueandthebookvalueonthedateoflossofcontrolisincludedincurrentprofitandloss.Thedisposedequityisobtainedthroughbusinesscombinationforreasonssuchasadditionalinvestment,inthepreparationofindividualfinancialstatement,iftheremainingequityafterdisposalisaccountedforbyusingthecostmethodorequitymethod,fortheequityinvestmentheldbeforethepurchasedate,othercomprehensiveincomeandotherowner'sequityrecognizedduetobeingaccountedforbyusingtheequitymethodarecarriedforwardonapro-ratabasis;iftheremainingequityafterdisposalischangedtobeaccountedforaccordingtotherecognitionandmeasurementstandardoffinancialinstruments,theothercomprehensiveincomeandotherowners'equityshallbeentirelycarriedforward.
23.Investmentrealestate
MeasurementMeasuredbycostDepreciationoramortizationmethod
Investmentrealestateisdefinedastherealestatewiththepurposetoearnrentorcapitalappreciationorboth,includingtherentedlanduserightsandthelanduserightswhichareheldandpreparedfortransferafterappreciation,therentedbuildings(includingthebuildingsforrentaftercompletionofself-constructionordevelopmentactivitiesandthebuildingsunderconstructionordevelopmentforfuturelease).
TheCompanyadoptsthecostmodelforsubsequentmeasurementofinvestmentrealestate,anddepreciatesoramortizesbuildingsandlanduserightsbasedonitsestimatedservicelifeandnetresidualvaluerate.Theestimatedservicelife,netresidualvaluerateandannualdepreciation(amortization)rateofinvestmentrealestatearelistedasfollows:
| Category | Expectedservicelife(year) | Expectednetsalvagevalue | Annualamortization(depreciation)rate |
| Housesandbuildings | 10-40 | 5% | 2.37%-9.50% |
24.Fixedasset
(1)RecognitionFixedassetsisdefinedasthetangibleassetswhichareheldforthepurposeofproducinggoods,providingservices,leaseorforoperation&management,andhavemorethanoneyearofservicelife.Fixedassetsshouldberecognizedforqualifiedthefollowedconditionsatthesametime:
(1)ItisprobablethattheeconomicbenefitsassociatedwiththeassetswillflowintotheCompany;and
(2)Thecostoftheassetscanbemeasuredreliably.
(2)Depreciationmethods
| Category | Method | Yearsofdepreciation | Scrapvaluerate | Yearlydepreciationrate |
| Houseandbuildings | ||||
| Productionbuildings | Straight-linedepreciation | 20-35 | 5 | 2.71-4.75 |
| Non-productionbuildings | Straight-linedepreciation | 20-40 | 5 | 2.38-4.75 |
| Temporarydormitoryandsimpleroometc. | Straight-linedepreciation | 5-15 | 5 | 6.33-19.00 |
| Gasstoragebin | Straight-linedepreciation | 20 | 5 | 4.75 |
| Silo | Straight-linedepreciation | 50 | 5 | 1.90 |
| Wharfandsupportingfacilities | Straight-linedepreciation | 50 | 5 | 1.90 |
| Machineryequipment | ||||
| Othermachineryequipment | Straight-linedepreciation | 10-20 | 5 | 4.75-9.50 |
| Warehouse | Straight-line | 20 | 5 | 4.75 |
| transmissionequipment | depreciation | |||
| Electronicequipment | Straight-linedepreciation | 2-5 | 5 | 19.00-47.50 |
| Transportequipment | Straight-linedepreciation | 3-10 | 5 | 9.50-31.67 |
| Otherequipment | Straight-linedepreciation | 3-10 | 5 | 9.50-31.67 |
Depreciationoffixedassetsisclassifiedandaccruedbyusingthestraight-linedepreciation,andthedepreciationrateisdeterminedaccordingtothetypeoffixedassets,theexpectedservicelifeandtheestimatednetresidualvaluerate.Ifeachcomponentofthefixedassetshasdifferentservicelivesorprovideseconomicbenefitstotheenterpriseindifferentways,selectdifferentdepreciationratesordepreciationmethods,andthedepreciationisaccruedseparately.Fixedassetsleasedintheformoffinancialleasing,ifitisreasonabletobecertainthatthelesseewillobtaintheownershipoftheleasedassetwhentheleasetermexpires,theleasedassetshallbefullydepreciatedoveritsusefullife.Ifitisnotreasonabletobecertainthatthelesseewillobtaintheownershipoftheleasedassetattheexpiryoftheleaseterm,theleasedassetshallbefullydepreciatedovertheshorteroneoftheleasetermoritsusefullife.
(3)Recognition,measurementanddepreciationoffixedassetsheldunderfinanceleaseIfanyofthefollowingconditionsarestipulatedintheleaseagreementsignedbytheCompanyandthelessee,itshallberecognizedasafinancialleasedassets:
1)ownershipoftheleasedassetsshallbelongtotheCompanyupontheexpirationoftheleaseterm;
2)theCompanyhastheoptiontopurchaseassetsforapurchasepricemuchlowerthanthefairvalueoftheassetswhentheoptionisexercised;
3)theleaseperiodaccountsformostoftheservicelifeoftheleasedassets;
4)thereisnosignificantdifferencebetweenthepresentvalueoftheminimumleasepaymentontheleasecommencementdateandthefairvalueoftheassets.Ontheleasestartdate,thecompanyregardsthelowerofthefairvalueoftheleasedassetandthepresentvalueoftheminimumleasepaymentasthebookvalueoftheleasedassetandregardstheminimumleasepaymentamountasthebookvalueofthelong-termpayable,andthedifferenceisregardedasunrecognizedfinancingcharges.
25.ConstructioninprogressFixedassetisbookedwiththeentireexpendituresoccurredintheConstructioninprogresstillitarrivesatpredictedstateforuse.Forthoseconstructionsinprocessoffixedassetswhichhavealreadyarrivedatthepredictedstateforuse,whilestillwithabsenceofcompletionsettlement,theyshallbecarriedforwardtofixed
assetsattheestimatedvaluebasedonengineeringbudget,constructioncostoractualcostcommencingfromthedateofarrivalofthepredictedstateforuse.Meanwhile,theyshallbealsosubjecttothedepreciationpoliciesapplicabletofixedassetsoftheCompanyforprovisionofdepreciation.Oncecompletionsettlementismade,theoriginaltemporaryestimatedvalueshallbeadjustedattheeffectivecost.However,theoriginalprovisionofdepreciationremainsunchanged.
26.Borrowingexpenses
(1)RecognitionoftheborrowingexpensescapitalizationBorrowingexpensesincludingtheamortizationofinterest,discountorpremiumonborrowing,theancillaryexpensesandexchangedifferencesarisingfromforeigncurrencyborrowingsandsoon.Borrowingexpensesthatattributedforpurchasingorconstructionofassetsthatarecomplyingstarttobecapitalizedandcountedasrelevantassetscost;otherborrowingexpenses,reckonedintocurrentgainsandlossesafterexpensesrecognizedwhileoccurred.Assetssatisfyingtheconditionsofcapitalizationarethoseassetsoffixed,investmentrealestateetc.whichneedalongperiodoftimetopurchase,construct,ormanufacturingbeforebecomingusable.Capitalizingforborrowingexpensesbysatisfyingthefollowedatsametime:
1)Assetsexpenseoccurred,andpaidasexpensesinwayofcash,non-cashassetstransferordebtwithinteresttakenforpurchasing,constructingormanufacturingassetsthatcomplyingwithcapitalizingcondition;
2)Borrowingexpenseshaveoccurred;
3)Necessaryactivitiesoccurredforreachingpredictedusablestatuesorsale-ablestatusforassetspurchased,constructedormanufactured.
(2)PeriodofcapitalizationCapitalizingperiodwasfromthetimestarcapitalizinguntilthetimeofsuspendedcapitalization.Theperiodforborrowingexpensessuspendedexcludedintheperiod.Ifpurchasing,construction,ormanufacturingprocessofanassetsatisfyingtheconditionsofcapitalizationreacheditspredictedusablestatusorsale-ablestatus,capitalizationsuspendedforborrowingexpenses.Ifpurchasing,construction,ormanufacturingprocessofanassetsatisfyingtheconditionsofcapitalizationcompletedprojectsandusableindependentlyforpartoftheprojects,borrowingexpensesforthiskindofasstsshallsuspendedcapitalization.
Iftheassetshavebeencompletedineverypart,butcanbereachedtheusefulstatusorsale-ablestatuswhilecompletedentirely,theborrowingexpenseshallbesuspendedforcapitalizationwhiletheassetscompletelyfinishedinwhole.
(3)Periodofsuspended
Ifpurchasing,construction,ormanufacturingprocessofanassetsatisfyingtheconditionsofcapitalizationissuspendedabnormallyforover3months,capitalizingofborrowingexpensesshallbesuspended;thesuspendedassetsthatsatisfyingtheconditionsofcapitalizationmeetsthenecessaryprocedureofreachingpredictedusablestatusorfor-salestatus,capitalizingofborrowingexpensesshallberesumed.Theborrowingexpensesoccurredduringtheperiodofsuspendedshallreckonintocurrentgainsandlossesuntilthepurchasing,construction,ormanufacturingprocessisresumedforcapitalizing.
(4)Capitalizationrateoftheborrowingcosts,measurementofthecapitalizedamountAsforthespecialloansborrowedforthepurchase,constructionorproductionofassetseligibleforcapitalization,theborrowingcostsarecapitalizedbydeductingtheactualborrowingcostsincurredincurrentperiodofspecialborrowing,theinterestincomeearnedbyborrowingfundsthathavenotyebeenused,depositedinthebankortheinvestmentincomeobtainedfromthetemporaryinvestment.Forthegeneralborrowingsusedfortheacquisition,constructionorproductionofassetseligibleforcapitalization,theamountofborrowingcoststhatshouldbecapitalizedforgeneralborrowingsiscalculatedanddeterminedaccordingtotheweightedaverageoftheassetexpendituresofaccumulatedassetexpendituresoverthespecialborrowingsmultiplyingbythecapitalizationrateoftheoccupiedgeneralborrowings.Thecapitalizationrateisdeterminedbasedontheweightedaverageinterestrateofgeneralborrowings.
27.Biologicalassets
(1)CriteriafordeterminingthebiologicalassetsBiologicalassetsreferstotheassetsmadeupoflivinganimalsandplants.
(2)ClassificationofbiologicalassetsBiologicalassetsaredividedintoconsumptivebiologicalassets,productivebiologicalassetsandpublicwelfarebiologicalassets.Consumptivebiologicalassetsincludebiologicalassetsheldforsaleorharvestedasagriculturalproductsinthefuture.Productivebiologicalassetsincludebiologicalassetsheldforthepurposeofproducingagriculturalproducts,providinglaborservices,orrenting.Publicwelfarebiologicalassetsincludebiologicalassetswhosemainpurposeisprotectionandenvironmentalprotection.
(3)DepreciationpolicyofproductivebiologicalassetsTheCompany’sbiologicalassetsaremainlyteatrees.Thecompany’sproductivebiologicalassetsthatachievetheintendedproductionandoperationpurposesaredepreciatedaccordingtotheaverageservicelifemethod,andtheservicelifeisdeterminedastheremainingperiodoflanduseafterdeductingtheimmatureteatreeperiod(5years),theresidualvaluerateis5%.Attheendofeachyear,thecompanyreviewstheservicelife,expectednet
residualvalueanddepreciationmethods.Iftheservicelifeandexpectednetoutputvaluearedifferentfromtheoriginalestimate,orthereisasignificantchangeintherealizationofeconomicbenefits,itwillbeusedasanaccountingestimatechangetoadjusttheservicelifeorestimatednetoutputvalueorchangethedepreciationmethod.
(4)TreatmentofimpairmentofbiologicalassetsIfthenetrealizablevalueofconsumptivebiologicalassetsislessthanitsbookvalue,thedepreciationofbiologicalassetsshallbemadebasedonthedifferencebetweenthenetrealizablevalueandthebookvalue,andincludedinthecurrentprofitandloss.Ifthefactorsaffectingtheimpairmentofconsumptivebiologicalassetshavedisappeared,thewrite-downamountshallberecoveredandtransferredbackwithintheamountoftheoriginalprovisionfordepreciation,andthetransferredamountshallbeincludedinthecurrentprofitandloss.Iftherecoverableamountofaproductivebiologicalassetislessthanitsbookvalue,theprovisionforbiologicalassetimpairmentshallbemadebasedonthedifferencebetweentherecoverableamountandthebookvalue,andincludedinthecurrentprofitandloss.Oncetheprovisionforimpairmentofproductivebiologicalassetsisaccrued,itshallnotbereversed.Thereisnoprovisionforimpairmentofpublicwelfarebiologicalassets.
28.Oilandgasassets
Nil
29.Right-of-useassets
Nil
30.Intangibleassets
(1)Measurement,useoflifeandimpairmenttesting
1)Measurementi.InitialmeasurementismadeatcostwhentheCompanyacquiresintangibleassets;Forthoseintangibleassetspurchasedfromoutside,thepurchasevalue,relevanttaxesandotherpaymentsattributabletopredictedpurposeobtainedshouldrecognizedascostforthisassets.Forthosepurchasedamountthatpaidoverdueexceededthenormalcreditcondition,ownsfinancingnaturesactually,thecostshouldberecognizedbasedonthecurrentvaluewhilepurchased.Asfortheintangibleassetsacquiredfromthedebtorindebtrestructuringforthepurposeofsettlementofdebt,thefairvalueoftheintangibleassetsshallbebasedtodeterminetheaccountingvalue.Thedifferencebetweenthecarryingvalueofrestructureddebtandthefairvalueoftheintangibleassetsuseforsettlementofdebtshallberecordedincurrentgainsandlosses.
Whentheexchangeofnon-monetaryassetshascommercialsubstanceandthefairvalueoftheassetsswappedinoroutcanbereliablymeasured,thefairvalueisusedasthebasisformeasurement.Ifthefairvalueofboththeswap-inassetsandswap-outassetscanbereliablymeasured,fortheswap-inintangibleassets,thefairvalueoftheswap-inassetsandrelatedtaxespayableshallbeusedastheinitialinvestmentcostoftheswap-inintangibleassets,unlessthereissolidevidencethatthefairvalueoftheswap-inassetsismorereliable.Iftheexchangeofnon-monetaryassetsdoesnothavecommercialsubstance,orthefairvalueoftheswap-inandswap-outassetscannotbereliablymeasured,fortheintangibleassetsswappedin,thebookvalueoftheswap-outassetsandtherelevantpayabletaxesandduesshallbeusedastheinitialinvestmentcostofswap-inintangibleassets.ii.SubsequentmeasurementAnalyzingandjudgingtheservicelifeofanintangibleassetwhentheyareacquired.Thoseintangibleassetswithlimitedusefullifeareevenlyamortizedonstraightbasisfromthedatewhentheybecomeusabletotheendofexpectedusefullife;Intangibleassetsforwhichitisimpossibletopredictthetermduringwhichtheassetscanbringineconomicbenefitsareviewedasintangibleassetswithindefinitelifewithoutamortization.
2)Estimationoftheservicelifeofintangibleassetswithlimitedservicelife
| Item | Predictedusefullife | Amortizationmethod | Basis |
| Landuseright | Amortizedtheactualrestoflifeaftercertificateoflanduserightobtained | Straight-linemethod | Certificateoflanduseright |
| Proprietarytechnology | 20-year | Straight-linemethod | ActualsituationoftheCompany |
| Trademarkuseright | 10-year | Straight-linemethod | ActualsituationoftheCompany |
| Softwareuseright | 5-8years | Straight-linemethod | Protocolagreement |
| Foresttreeuseright | Servicelifearranged | Straight-linemethod | Protocolagreement |
| Shopmanagementright | Servicelifearranged | Straight-linemethod | Protocolagreement |
3)JudgmentbasisonintangibleassetswithuncertainservicelifeandreviewproceduresfortheservicelifeIntangibleassetsforwhichitisimpossibletopredictthetermduringwhichtheassetscanbringineconomicbenefitsareviewedasintangibleassetswithindefinitelife.Intangibleassetswithindefinitelifearenotamortizedduringtheholdingperiod,andusefullifeisre-reviewedattheendofeachaccountingperiod.Incasethatitisstilldeterminedasindefiniteaftersuchre-review,thenimpairmenttestwillbeconductedcontinuouslyineveryaccountingperiod.
(2)AccountingpolicyoftheinternalR&Dexpenditure
1)Specificcriteriafordividingresearchanddevelopmentstages
TheexpenditureforinternalR&Disdividedintoresearchexpenditureanddevelopmentexpenditure.
Researchstage:stageoftheinvestigationandresearchactivitiesexercisinginnovative-nessfornewscienceortechnologyknowledgeobtainedandunderstanding.Developmentstage:stageoftheactivitiesthatproducednewormaterialadvancematerials,devicesandproductsthatbyresearchresultsorotherknowledgeadoptionincertainplanordesignbeforethecommercialproductionorusage.ExpendituresincurredduringtheresearchphaseofinternalR&Dprojectsshallberecordedintothecurrentprofitandlosswhenincurred.
2)StandardsforcapitalizationsatisfactionofexpenditureindevelopmentstateIntangibleassetsrecognizedforexpenditureinexploitationstagebysatisfyingthefollowedatsametime:
Owesfeasibilityintechnologyandcompletedtheintangibleassetsforusefulorforsale;i.Owestheintentionforcompletedtheintangibleassetsandforsalepurpose;ii.Wayofprofitgeneratedincluding:showevidencethattheproductsgeneratedfromtheintangibleassetsowesamarketorowesamarketforitself;iftheintangibleassetswilluseinternally,thanshowevidenceofuseful-ness;iii.Possesssufficienttechnique,financialresourcesandotherresourcesforthedevelopmentofkindofintangibleassetsandhastheabilityforusedorforsale;iv.Theexpenditureattributabletotheexploitationstageforintangibleassetscouldbemeasuredreliably.Expenditurehappenedindevelopmentphasenotsatisfyingtheaboveconditionsisincludedincurrentperiodgainsandlosseswhenoccurs.Developmentexpenditurepreviouslyincludedingainsandlossesinpreviousperiodswillnotbere-recognizedasassetsinlaterperiods.Capitalizeddevelopmentexpenditureisstatedinbalancesheetasdevelopmentexpenditure,andistransferredtointangibleassetswhentheprojectisreadyforplanneduse.
31.ImpairmentoflongtermassetsThelong-termassetsaslong-termequityinvestments,investmentrealestatemeasuredatcost,fixedassets,constructioninprogressandintangibleassetswithcertainservicelifearetestedforimpairmentifthereisanyindicationthatanassetmaybeimpairedatthebalancedate.Iftheresultoftheimpairmenttestindicatesthattherecoverableamountoftheassetislessthanitscarryingamount,aprovisionforimpairmentandanimpairmentlossarerecognizedfortheamountbywhichtheasset’scarryingamountexceedsitsrecoverableamount.Therecoverableamountisthehigherofanasset’sfairvaluelesscoststosellandthepresentvalueofthefuturecashflowsexpectedtobederivedfromtheasset.Provisionforassetimpairmentisdeterminedandrecognizedontheindividualassetbasis.Ifitisnotpossibletoestimatetherecoverableamountofanindividualasset,therecoverableamountofagroupofassetstowhichtheassetbelongsisdetermined.Agroupofassetsisthesmallestgroupofassetsthatisabletogenerateindependentcashinflows.Goodwill,intangibleassetswithuncertainservicelifeandintangibleassetsthathavenotreachedtheserviceablestateshallbesubjecttoimpairmenttestatleastattheendofeachyear.
WhentheCompanyconductsthegoodwillimpairmenttest,thebookvalueofgoodwillformedbybusinesscombinationisapportionedtotherelevantassetgroupaccordingtoreasonablemethodsfromthedateofpurchase;ifitisdifficulttoapportionittotherelevantassetgroup,apportionittotherelevantassetgroupportfolio.Whenapportioningthebookvalueofgoodwill,theCompanyapportionsaccordingtotherelativebenefitthattherelevantassetgroupsorcombinationofassetgroupscanobtainfromthesynergiesofbusinesscombination,andconductsagoodwillimpairmenttestonthisbasis.
Whenconductingimpairmenttestforrelevantassetgroupwithinclusionofgoodwill,incasethatthereisindicationofimpairmentforsuchassetgroup,impairmenttestwouldbefirstlyconductedinrespectoftheassetgroupswithoutinclusionofgoodwill.Then,itshallcalculatetherecoverableamountanddeterminethecorrespondingimpairmentlossascomparedtoitscarryingvalue.Second,assetgroupwithinclusionofgoodwillwouldbetestedforimpairment.Ifitisfoundaftercomparisonbetweenthecarryingvalueandrecoverableamountoftheassetgroupthattherecoverableamountislessthancarryingvalue,theCompanywouldrecognizeimpairmentlossforgoodwill.Oncerecognized,assetimpairmentlosswouldnotbereversedinfutureaccountingperiod.
32.LongtermprepaidexpenseLongtermprepaidexpenserepresentstheexpensewhichtheCompanyhasoccurredandshallbeamortizedinthecurrentandlaterperiodswithamortizationperiodexceedingoneyear.Long-termprepaidexpensesoftheCompanyincludesexpendituresonimprovementofinvestmentrealestate,decorationfeeandexpenditureforfixedassetsimprovementetc.Longtermprepaidexpenseisamortizedduringthebeneficialperiodunderstraightlinemethod.
33.Contractliabilities
ContractliabilitiesrefertotheCompany'sobligationtotransfergoodstocustomersforconsiderationreceivedor
receivablefromcustomers.IfthecustomerhaspaidthecontractconsiderationortheCompanyhasobtainedtheunconditionalrightofcollectionbeforetheCompanytransfersthegoodstothecustomer,theCompanyshalllistthereceivedorreceivableamountasacontractliabilityattheearliertimepointbetweentheactualpaymentpaidbythecustomerandthepaymentdue.Contractassetsandcontractliabilitiesunderthesamecontractarelistedinnetamount,andcontractassetsandcontractliabilitiesunderdifferentcontractsarenotoffset.
34.Staffremuneration
(1)AccountingtreatmentofshorttermremunerationIntheperiodofemployeeservices,short-termbenefitsareactuallyrecognizedasliabilitiesandchargedtoprofitorlossorrelevantassetscosts.RegardingtothesocialinsuranceandhousingfundsthattheCompanypaidforemployees,theCompanyshouldrecognizecorrespondingemployeesbenefitspayableaccordingtotheappropriationbasisandproportionasstipulatedbyrelevantrequirementsandrecognizethecorrespondingliabilities.Iftheemployeewelfarearenon-monetarybenefitsandcanbemeasuredreliably,theyshallbemeasuredatfairvalue.
(2)Accountingtreatmentforpostemploymentbenefits
TheCompany'spost-employmentbenefitplansarealldefinedcontributionplans.Thedefinedcontributionplansforpost-employmentbenefitsaremainlytoparticipateinthebasicsocialpensioninsuranceandunemploymentinsuranceorganizedandimplementedbylaborandsocialsecurityinstitutionsinvariousplaces;inadditiontothebasicsocialpensioninsuranceandunemploymentinsurance,theemployeesinlinewiththe"ShenzhenCerealsGroupCo.,Ltd.EnterpriseAnnuityPlan"canapplyforparticipationintheannuityplanestablishedbytheCompany.DuringtheaccountingperiodwhenemployeesprovideservicestotheCompany,theamountofdepositspayablecalculatedaccordingtothedefinedcontributionplanisrecognizedasaliabilityandincludedinthecurrentprofitandlossorthecostofrelatedassets.AftertheCompanypaystheabovepaymentsregularlyinaccordancewiththenationalstandardsandtheannuityplan,therewillbenootherpaymentobligations.
(3)AccountingtreatmentfordismissalbenefitWhentheCompanycannotunilaterallywithdrawthedismissalbenefitsprovidedbytheterminationofthelaborrelationshipplanorthedownsizingproposal,orwhenconfirmthecostorexpensesrelatedtothereorganizationofthedismissalbenefits(theearlierone),confirmtheemployeecompensationliabilitiesgeneratedbydismissalbenefitsandincludeinthecurrentprofitandloss.
(4)AccountingtreatmentforotherlongtermstaffbenefitsOtherlongtermstaffbenefitsreferstoalltheotherstaffbenefitsexceptforshorttermremuneration,postofficebenefitanddismissalbenefit.
Forotherlongtermstaffbenefitssatisfyingconditionsunderdefinedwithdrawplan,thecontributionpayablesshallberecognizedasliabilitiesandincludedincurrentgainsandlossesorrelevantassetcostduringtheaccountingperiodinwhichthestaffprovidesservicestotheCompany.
35.Leaseliability
Nil
36.Accrualliability
(1)Recognitionstandardsforaccrualliability
Whentheobligationsrelatingtocontingenciessuchaslitigation,debtguarantee,losscontract,reorganizationandetc.Satisfythefollowingconditions,anaccrualliabilityshallberecognized:
1)TheresponsibilityisacurrentresponsibilityundertakenbytheCompany;
2)Fulfillingoftheresponsibilitymayleadtofinancialbenefitoutflow;
3)Theresponsibilitycanbemeasuredreliablyforitsvalue.
(2)MeasurementAccrualliabilitiesshallconductinitialmeasurementbybestestimationofexpendituresneededbyfulfillmentofcurrentresponsibilities.Whiledeterminedthebestestimation,taketherisks,uncertaintyandperiodicvalueofcurrencythatconnectedtothecontingentissuesintoconsideration.Formajorinfluencefromperiodicvalueofcurrency,determinedbestestimationafterdiscountonfuturerelevantcashout-flow.Treatmentforbestestimation:
Iftheexpenditurehasacontinuousrange,andwithsimilarpossibilitywithintherange,thebestestimationshoulddeterminedbythemiddlevaluewithintherange,thatistheaverageamountbetweentheupandlowlimit.Iftheexpenditurehasnocontinuousrange,orhasacontinuousrangebutwithdifferentpossibilitywithintherange,thepossibilityamountshalldeterminedasthebestestimationwhilesingleeventsinvolvedbycontingency;ifmanyeventswereinvolvedbycontingency,thebestestimationshallbedeterminedbyvariousresultsandrelevantprobability.Iftheexpensesforclearingofpredictiveliabilityisfullyorpartiallycompensatedbyathirdparty,andthecompensatedamountcanbedefinitelyreceived,itisrecognizedseparatedasasset.Thoughthecompensatedamountshallnotgreaterthanthebookvalueofthepredictiveliability
37.Share-basedpayment
Nil
38.OtherfinancialinstrumentofpreferredstocksandperpetualbondNil
39.Revenue
AccountingpolicyapplicablefortherevenuerecognitionandmeasurementAccountingpolicyapplicablesince1Jan.2020
(1)accountingpolicyapplicablefortherevenuerecognitionandmeasurementTheCompanyfulfillstheperformanceobligationsinthecontract,thatis,revenueisrecognizedwhenthecustomerobtainscontroloftherelevantgoodsorservices.Obtainingcontrolofrelatedgoodsorservicesmeansbeingabletoleadtheuseofthegoodsorservicesandobtainalmostalloftheeconomicbenefitsfromthem.Ifthecontractcontainstwoormoreperformanceobligations,theCompanywillallocatethetransactionpricetoeachindividualperformanceobligationinaccordancewiththerelativeproportionofthestand-alonesellingpriceofthegoodsorservicespromisedbyeachindividualperformanceobligationonthestartingdateofthecontract.TheCompanymeasuresrevenuebasedonthetransactionpriceallocatedtoeachindividualperformanceobligation.ThetransactionpricereferstotheamountofconsiderationthattheCompanyexpectstobeentitledtoreceiveduetothetransferofgoodsorservicestocustomers,excludingpaymentscollectedonbehalfofthirdpartiesandpaymentsexpectedtobereturnedtocustomers.TheCompanydeterminesthetransactionpriceinaccordancewiththetermsofthecontractandcombinedwithitspastcustomarypractices,whendeterminingthetransactionprice,itconsiderstheinfluenceofvariableconsideration,majorfinancingcomponentsinthecontract,non-cashconsideration,considerationpayabletocustomersandotherfactors.TheCompanydeterminesthetransactionpricethatincludesvariableconsiderationatanamountthatdoesnotexceedtheamountofaccumulatedrecognizedrevenuethatisunlikelytobemateriallyreversedwhentherelevantuncertaintyiseliminated.Ifthereisasignificantfinancingcomponentinthecontract,theCompanydeterminesthetransactionpricebasedontheamountpayableincashwhenthecustomerobtainscontrolofthegoodsorservices,andusestheactualinterestmethodtoamortizethedifferencebetweenthetransactionpriceandthecontractconsiderationduringthecontractperiod.Itbelongstotheperformanceobligationfulfilledwithinacertainperiodoftimewhenmeetingoneofthefollowingconditions,otherwiseitbelongstotheperformanceobligationfulfilledatacertainpointintime:
ThecustomerobtainsandconsumestheeconomicbenefitsbroughtbytheCompany'sperformanceatthesametimeastheCompany'sperformance.CustomerscancontroltheproductsunderconstructionintheCompany'sperformanceprocess.TheproductsproducedbytheCompanyduringtheperformanceofthecontracthaveirreplaceableuses,andtheCompanyhastherighttocollectpaymentfortheaccumulatedperformancepartofthecontractduringtheentire
contractperiod.Forperformanceobligationsperformedwithinacertainperiodoftime,theCompanyrecognizesrevenueaccordingtotheperformanceprogressduringthatperiod,exceptwheretheperformanceprogresscannotbereasonablydetermined.TheCompanyconsidersthenatureofthegoodsorservicesandadoptstheoutputmethodortheinputmethodtodeterminetheprogressofperformance.Whentheperformanceprogresscannotbereasonablydetermined,andthecostsincurredareexpectedtobecompensated,theCompanyshallrecognizetherevenueaccordingtotheamountofthecostsincurreduntiltheperformanceprogresscanbereasonablydetermined.Forperformanceobligationsperformedatacertainpointintime,theCompanyrecognizesrevenueatthepointwhenthecustomerobtainscontroloftherelevantgoodsorservices.Whenjudgingwhetheracustomerhasobtainedcontrolofgoodsorservices,theCompanyconsidersthefollowingsigns:
TheCompanyhasthecurrentrighttocollectpaymentforthegoodsorservices,thatis,thecustomerhasthecurrentpaymentobligationforthegoodsorservices.TheCompanyhastransferredthelegalownershipofthegoodstothecustomer,thatis,thecustomerhasthelegalownershipofthegoods.TheCompanyhastransferredthegoodstothecustomerinkind,thatis,thecustomerhastakenpossessionofthegoodsinkind.TheCompanyhastransferredthemainrisksandrewardsoftheownershipofthegoodstothecustomer,thatis,thecustomerhasobtainedthemainrisksandrewardsoftheownershipofthegoods.Thecustomerhasacceptedthegoodsorservices,etc.Accountingpolicybefore1Jan.2020
(1)generalprinciplesfortherecognitionofsalesrevenue
1)Principalrisksandrewardsintheownershipofthegoodsaretransferredtothebuyer;
2)TheCompanyretainsneitherthecontinuingmanagementrightsnormallyassociatedwithownershipnoreffectivecontroloverthemerchandisesold;
3)Thesalesrevenuecanbemeasuredreliably;
4)Therelatedeconomicbenefitsarelikelytoflowintothecompany;
5)Therelevantcostsincurredortobeincurredcanbemeasuredinareliableway.
(2)Renderingofservices
1)Theamountofincomecanbereliablymeasured;
2)Therelevanteconomicbenefitsarelikelytoflowintotheenterprise;
3)Thecompletionscheduleofthetransactioncanbereliablydetermined;
4)Thecostsincurredandtobeincurredinthetransactioncanbereliablymeasured.Thetotalamountoflaborserviceincomeisdeterminedbythereceivedorreceivablecontractoragreementprice,exceptthatthecontractoragreementpricereceivedorreceivableisnotfair.Onthebalancesheetdate,thecurrent
laborserviceincomeisdeterminedbytheamountthatthetotallaborserviceincomemultipliesbythecompletionscheduleanddeductstheaccumulatedlaborincomefromthepreviousaccountingperiod.Atthesametime,thecurrentlaborcostiscarriedforwardbytheamountthatthetotallaborservicecostmultipliesbythecompletionscheduleanddeductstheaccumulatedlaborcostfromthepreviousaccountingperiod.Iftheresultsofthelaborservicetransactiononthebalancesheetdatecannotbereliablyestimated,theyshallbedisposedasfollows:
1)Ifthelaborcostsincurredisestimatedtobecompensated,thelaborserviceincomeshallbedeterminedaccordingtotheamountoflaborcostsincurred,andthelaborcostsshallbecarriedforwardatthesameamount.
2)Ifthelaborcostsincurredisestimatednottobecompensated,thelaborcostsincurredshallbeincludedinthecurrentprofitandloss,andthelaborserviceincomeshallnotberecognized.WhenthecontractoragreementsignedbytheCompanywithotherenterprisesincludesthesaleofgoodsandtherenderingoflaborservices,ifthepartsofthesalesofgoodsandthepartsoftherenderingoflaborservicecanbedistinguishedandcanbeseparatelymeasured,treatthepartofthesalesofgoodsasthesalesofgoods,andtreatthepartoftherenderingoflaborservicesasrenderingoflaborservices.Ifthepartsofthesalesofgoodsandthepartsoftherenderingoflaborservicecannotbedistinguished,orcanbedistinguishedbutcannotbeseparatelymeasured,treatthepartofthesalesofgoodsandthepartsoftherenderingoflaborservicebothasthesalesofgoods.RecognizerevenueforthegrainandoildynamicstorageandrotationservicesprovidedbytheCompanyfortheShenzhenMunicipalGovernmentwhentherelevantlaborserviceactivitiesoccur.Specifically,monthlycalculateandrecognizethegovernmentserviceincomebasedontheactualstoragegrainandoilquantityandthestoragepricestipulatedby“OperationalProceduresforGovernmentGrainStorageAll-inCostofShenzhen”and“OperationalProceduresforEdibleVegetableOilGovernmentReserveAll-inCostofShenzhen”.
(3)assignmentoftheright-to-useassetsFinancialbenefitattachedtothecontractispossiblyinflowtothecompany;Overallincomeofthecontractcanbemeasuredreliably.Determinedtheuserightincomefortransactionassetsrespectivelyasfollowed:
1)Amountofinterestincome:determinedbythetimeandeffectiveinterestrateofthecurrencycapitalusedbyotherpeople.
2)Amountofincomefromuse:determinedbythechargetimeandcalculationmethodagreedintherelevantcontractoragreement.
3)Fortheincomefromrealestate,dockwarehouseandotherpropertyleasingandterminaldockingbusiness,calculateanddeterminetherentalincomeandwarehousinglogisticsincomeaccordingtothechargeabletimeandmethodasstipulatedinthecontractoragreement.Theaccountingpolicyforrevenuerecognitionaredifferentduetothedifferentbusinessmodelsinthesamekindofbusiness
40.GovernmentGrants
(1)Types
GovernmentsgrantsoftheCompanyrefertothemonetaryandnon-monetaryassetsobtainedfromgovernmentforfree,andaredividedintothoserelatedtoassetsandothersrelatedtorevenues.GovernmentgrantsrelatedtoassetsrefertothoseobtainedbytheCompanyandusedforpurchaseorconstructionoforotherwisetoformlong-termassets.Governmentsubsidiesrelatedtorevenuerefertothoseotherthangovernmentsubsidiesrelatedtoassets.
(2)RecognitionofgovernmentgrantAtendoftheperiod,ifthereisevidenceshowthattheCompanyqualifiedrelevantconditionoffiscalsupportingpolicesandsuchsupportingfundsarepredictedtoobtained,thanrecognizedtheamountreceivableasgovernmentgrants.Afterthat,governmentgrantsshallrecognizewhileactuallyreceived.Governmentgrantsintheformofmonetaryassetsarestatedattheamountreceivedorreceivable.Governmentgrantsintheformofnon-monetaryassetsaremeasuredatfairvalue;iffairvaluecannotbeobtained,anominalamount(oneyuan)isused.Governmentgrantsmeasuredatnominalamountisrecognizedimmediatelyinprofitorlossforthecurrentperiod.
(3)AccountingtreatmentBasedonthenatureofeconomicbusiness,theCompanydetermineswhetheracertaintypeofgovernmentsubsidybusinessshouldbeaccountedforbyusingthetotalamountmethodorthenetamountmethod.Ingeneral,theCompanyonlychoosesonemethodforsimilarorsimilargovernmentsubsidyservices,andthismethodisconsistentlyappliedtothebusiness.
| Item | Calculationcontent |
| Basedongrossmethod | Allbusinessofgovernmentgrants |
Thegovernmentgrantsrelatedtotheassetsarerecognizedasdeferredincome.Theassetsconstructedorpurchasedshallbedividedintotheprofit/lossbystagesinareasonableandsystematicmannerovertheirusefullife;Asforthegovernmentgrantswithincomeconcerned,whichhascompensatedrelevantexpensesandlossesoccurredinlaterperiod,thanrecognizedasdeferredincome,andreckonedintocurrentgains/lossesduringtheperiodwhilerelevantexpensesorlossesdetermined;thoseusedtocompensatetherelevantcostsorlossesofthecompany,itshallbedirectlyincludedinthecurrentprofit/loss.Governmentgrantsrelevanttodailyactivitiesofenterprisesareincludedinotherincome;governmentgrantsirrelevanttodailyactivitiesofenterprisesareincludedinnon-operatingincomeandexpenditure.Thegovernmentgrantsrelevanttodiscountedinterestonpolicyconcessionalloansisusedtooffsettherelevant
borrowingcosts;ifaborrowingswithpreferentialinterestrateprovidedbythelendingbankisobtained,thentheactualamountofborrowingsreceivedshallbetakenastheentryvalue,andtherelevantborrowingcostsshallbecalculatedaccordingtotheloanprincipalandpreferentialinterestrate.Whenarecognizedgovernmentgrantneedstobereturned,adjustthebookvalueofassetsifitisusedtooffsetthebookvalueofunderlyingassetsatinitialrecognition;ifthereisarelateddeferredincomebalance,offsetthebookbalanceofrelevantdeferredincome,andincludetheexcessincurrentprofitorloss;ifthereisnorelateddeferredincome,anddirectlyincludeinthecurrentprofitorloss.
41.DeferredincometaxassetsanddeferredincometaxliabilitiesThedeferredincometaxassetsrecognizedbydeductibletemporarydifferencesarewithinthelimitoftaxableincomethatisprobablyachievedinthefuturetodeductthedeductibletemporarydifferences.Thedeductiblelossesandtaxcreditsthatcanbecarriedforwardinsubsequentyearsarewithinthelimitofthefuturetaxableincomeitisprobablyachievedinthefuturetodeductthedeductiblelossesandtaxcredits,andthecorrespondingdeferredincometaxassetsarerecognized.Fortaxabletemporarydifferences,deferredincometaxliabilitiesarerecognizedexceptinspecialcircumstances.Thespecialcircumstancesofnotrecognizingdeferredincometaxassetsordeferredincometaxliabilitiesinclude:
initialrecognitionofgoodwill;othertransactionsormattersotherthanbusinesscombinationsthatneitheraffectaccountingprofitsnoraffecttaxableincome(ordeductiblelosses)whenoccur.WhentheGrouphasalegalrighttosettleonanetbasisandintendseithertosettleonanetbasisortorealizetheassetsandsettletheliabilitiessimultaneously,currenttaxassetsandcurrenttaxliabilitiesareoffsetandpresentedonanetbasis.WhentheGrouphasalegalrighttosettlecurrenttaxassetsandliabilitiesonanetbasis,anddeferredtaxassetsanddeferredtaxliabilitiesrelatetoincometaxesleviedbythesametaxationauthorityoneitherthesametaxableentityordifferenttaxableentitieswhichintendeithertosettlecurrenttaxassetsandliabilitiesonanetbasisortorealizetheassetsandliabilitiessimultaneously,ineachfutureperiodinwhichsignificantamountsofdeferredtaxassetsorliabilitiesareexpectedtobereversed,deferredtaxassetsanddeferredtaxliabilitiesareoffsetandpresentedonanetbasis.
42.Lease
(1)Accountingtreatmentforoperatinglease
1)Therentalfeepaidforrentingthepropertiesbythecompanyareamortizedbythestraight-linemethodandreckonedinthecurrentexpensesthroughouttheleasetermwithoutdeductingrent-freeperiod.Theinitialdirect
costsrelatedtotheleasetransactionspaidbythecompanyarereckonedinthecurrentexpenses.Whenthelessorundertakestheexpensesrelatedtotheleasethatshouldbeundertakenbythecompany,thecompanyshalldeducttheexpensesfromthetotalrentalcosts,sharebythedeductedrentalcostsduringtheleaseterm,andreckoninthecurrentexpenses.
2)Rentalobtainedfromassetsleasing,duringthewholeleasingperiodwithoutrent-freeperiodexcluded,shallbeamortizedbystraight-linemethodandrecognizedasleasingrevenue.Theinitialdirectcostspaidwithleasingtransactionconcernedarereckonedintocurrentexpenditure;theamountislargeriscapitalizedwhenincurred,andaccountedforasprofitorlossforthecurrentperiodonthesamebasisasrecognitionofrentalincomeovertheentireleaseperiod.Whenthecompanyundertakestheexpensesrelatedtotheleasethatshouldbeundertakenbythelessor,thecompanyshalldeducttheexpensesfromthetotalrentalincome,anddistributebythedeductedrentalcostsduringtheleaseterm.
(2)Accountingtreatmentforfinancinglease
1)Assetslease-inbyfinancing:Onthebeginningdateofthelease,theentryvalueofleasedassetshallbeatthelowerofthefairvalueoftheleasedassetandthepresentvalueofminimumleasepaymentatthebeginningdateofthelease.Minimumleasepaymentshallbetheentryvalueoflong-termaccountspayable,withdifferencerecognizedasunrecognizedfinancingexpenses.Unrecognizedfinancingexpensesshallbereckonedinfinancialexpensesandamortizedandusingeffectiveinterestmethodduringtheleasingperiod.TheinitialdirectexpensesincurredbytheCompanyareincludedinthevalueoftherentedassets.
2)Financeleasedassets:ontheleasecommencementdate,thecompanyaffirmsthebalanceamongthefinanceleasereceivables,thesumofunguaranteedresidualvalueanditspresentvalueastheunrealizedfinancingincome,andrecognizesitastherentalincomeduringtheperiodofreceivingtherent.Fortheinitialdirectcostsrelatedtotherentaltransaction,thecompanyreckonsintheinitialmeasurementofthefinanceleasereceivables,andreducestheamountofincomeconfirmedintheleaseterm.
43.OtherimportantaccountingpolicyandestimationSafetyproductionexpensesThesafetyproductionexpensesdrawnbytheCompanyinaccordancewiththenationalregulationsareincludedinthecostofrelevantproductsorthecurrentprofitandloss,andarerecordedinthe“specialreserve”account.Whenusingthedrawnsafetyproductionexpenses,directlyoffsetthespecialreserveifitbelongstotheexpenseexpenditure.Forfixedassets,theexpensesincurredthroughthecollectionof“underconstruction”subjectsshallberecognizedasfixedassetswhenthesafetyprojectiscompletedandreadyforuse.Atthesametime,thespecialreserveshallbeoffsetaccordingtothecostofformingthefixedassets,andaccumulateddepreciationofthesame
amountshallberecognized.Thefixedassetswillnolongerbedepreciatedinthefuture.
44.Changesofimportantaccountingpolicyandestimation
(1)Changesofimportantaccountingpolicies
√Applicable□Notapplicable
| Content&reasons | Approvalprocedure | Note |
| OnJuly5,2017,theMinistryofFinancerevisedandissuedthe"AccountingStandardsforBusinessEnterprisesNo.14-Revenue"(No.CK[2017]22).AccordingtotherequirementsoftheMinistryofFinance,forcompanieslistedathomeandabroadatthesametimeandcompanieslistedabroadandadoptingtheInternationalFinancialReportingStandardsorAccountingStandardsforBusinessEnterprisestopreparefinancialstatements,ithasbeenimplementedsinceJanuary1,2018;forotherdomesticlistedcompanies,ithasbeenimplementedfromJanuary1,2020;fornon-listedcompaniesthatimplementtheAccountingStandardsforBushinessEnterprises,itwillbeimplementedonJanuary1,2021.Accordingtotherequirementsoftheabovedocuments,thecompanymadecorrespondingchangestoitsaccountingpolicies. | Approvedbythe7thSessionof10thBODon31Dec.2019 | Thischangeinaccountingpolicydidnotcauseamajorchangeinthecompany’srevenuerecognitionmethod,anddidnothaveamajorimpactonthecompany’scurrentandpreviousnetprofit,totalassetsandnetassets.ThischangeinaccountingpolicyisacorrespondingchangemadebythecompanyinaccordancewiththelatestaccountingstandardsrevisedandpromulgatedbytheMinistryofFinance.Thechangedaccountingpolicyisincompliancewithrelevantregulationsandtheactualsituationofthecompany. |
(2)Changesofimportantaccountingestimate
□Applicable√Notapplicable
(3)Adjustmentontherelevantitemsoffinancialstatementatbeginningoftheyearwhenimplementedthenewrevenuestandardsandnewleasingstandardssince2020ApplicableWhetherneedtoadjustthebalancesheetitemsatthebeginningoftheyear
□Yes√NoExplainthereasonsofnoneedtoadjustthebalancesheetitemsatthebeginningoftheyearTherearenoinfluenceontheitemsofbalancesheetatbeginningoftheyearwhenimplementedthenewrevenuestandardsandnew
leasingstandards
(4)Retrospectiveadjustmentofearlycomparisondatadescriptionwhenimplementedthenewrevenuestandardsandnewleasingstandardssince2020
□Applicable√Notapplicable
45.OtherVI.Taxes
1.Typeoftaxandrateformainapplicabletax
| Taxes | Basis | Rate |
| VAT | Theoutputtaxiscalculatedonthebasisofthesalesofgoodsandthetaxableserviceincomecalculatedaccordingtothetaxlaw.Afterdeductingtheinputtaxamountthatisallowedtobedeductedinthecurrentperiod,thedifferencepartisthevalue-addedtaxpayable. | 13%,9%,6%,5%,3% |
| Urbanmaintenanceandconstructiontax | Calculatedaccordingtotheactualvalue-addedtaxandconsumptiontax | 5%,7% |
| Enterpriseincometax | Calculatedaccordingtotaxableincome | 25%,15%,Tax-free |
| Educationalsurtax | Calculatedaccordingtotheactualvalue-addedtaxandconsumptiontax | 3% |
| Localeducationsurcharge | Calculatedaccordingtotheactualvalue-addedtaxandconsumptiontax | 2% |
| Propertytax | Price-basedresourcetax,1.2percentoftheremainingvalueafterdeducting20%oftheoriginalvalueoftheproperty;12percentoftherentalincomeiflevybyrents. | 1.2%,12% |
Rateofincometaxfordifferenttaxpayingbody:
| Taxpayingbody | Rateofincometax |
| ShenzhenCerealsHoldingsCo.,Ltd. | 25% |
| ShenzhenCerealsGroupCo.,Ltd（hereinafterreferredtoas"SZCG"） | 25%,Somebusinessesaretax-free |
| ShenzhenHualianGrainandOilTradingCo.,Ltd.（hereinafterreferredtoas"HualianCompany"） | 25% |
| ShenzhenFlourCo.,Ltd（hereinafterreferredtoas"Shenzhen | Tax-free |
| Flour"） | |
| ShenliangQualityInspectionCo.,Ltd.（hereinafterreferredtoas"ShenliangQualityInspection"） | 25% |
| HainanHaitianAquaticFeedCo.,Ltd.（hereinafterreferredtoas"HainanHaitian"） | 25% |
| ShenliangDoximiBusinessCo.,Ltd.（hereinafterreferredtoas"Doximi"） | 25% |
| ShenzhenShenliangBeigeKitchenFoodSupplyChainCo.,Ltd.（hereinafterreferredtoas"BeigeKitchen"） | 15% |
| ShenzhenShenliangStorage(Yingkou)Co.,Ltd.（hereinafterreferredtoas"ShenliangStorage(Yingkou)"） | 25% |
| ShenzhenShenliangColdChainLogisticsCo.,Ltd.（hereinafterreferredtoas"ShenliangColdChain"） | 15% |
| ShenzhenShenliangPropertyDevelopmentCo.,Ltd.（hereinafterreferredtoas"ShenliangProperty"） | 25% |
| ShenzhenShenliangPropertyManagementCo.,Ltd.(hereinafterreferredtoas"ShenliangProperty") | 25% |
| DongguanShenliangLogisticsCo.,Ltd.（hereinafterreferredtoas"DongguanLogistics"） | 25% |
| DongguanInternationalFoodIndustrialParkDevelopmentCo.,Ltd.（hereinafterreferredtoas"DongguanFoodIndustrialPark"） | 25% |
| DongguanShenliangOil&FoodTradeCo.,Ltd.(hereinafterreferredtoas"DongguanFoodTrade") | 25% |
| DongguanJinyingBiotechnologyCo.,Ltd.（hereinafterreferredtoas"DongguanJinying"） | 25% |
| ShuangyashanShenliangZhongxinCerealsBaseCo.,Ltd.(hereinafterreferredtoas"ShuangyashanShenliangZhongxin") | 25% |
| HeilongjiangHongxinglongNongkenShenxinCerealsIndustrialParkCo.,ltd.(hereinafterreferredtoas"HongxinglongNongkenIndustrialPark") | 25% |
| ShenzhenShenbaoHuachengTechnologyCo.,Ltd.（hereinafterreferredtoas"ShenbaoHuacheng"） | 15% |
| ShantouBranchofShenzhenShenbaoHuachengScienceandTechnologyCo.,Ltd(hereinafterreferredtoas"HuachengShantouBranch") | 25% |
| WuyuanJuFangYongTeaIndustryCo.,Ltd.（hereinafterreferredtoas"WuyuanJuFangYong"） | 15% |
| ShenzhenShenshenbaoInvestmentCo.,Ltd.（hereinafterreferredtoas"ShenbaoInvestment"） | 25% |
| ShenzhenShenshenbaoTeaCultureCommercialManagementCo.,Ltd.(hereinafterreferredtoas"ShenbaoTeaCulture") | 25% |
| HangzhouJuFangYongHoldingCo.,Ltd(hereinafterreferredtoas"HangzhouJuFangYong") | 25% |
| HangzhouJuFangYongTradingCo.,Ltd.(hereinafterreferredtoas"JuFangYongTrading") | 25% |
| HangzhouFuhaitangCateringManagementChainCo.,Ltd.(hereinafterreferredtoas"FuhaitangCatering") | 25% |
| ShenzhenShenbaoTea-ShopCo.,Ltd(hereinafterreferredtoas"ShenbaoTea-Shop") | 25% |
| HangzhouFuhaitangTeaEcologicalTechnologyCo.,Ltd.(hereinafterreferredtoas"FuhaitangEcological") | 25% |
| MountWuyiShenbaoRockTeaCo.,Ltd.(hereinafterreferredtoas"ShenbaoRockTea") | 25% |
| YunnanShenbaoPu’erTeaSupplyChainManagementCo.,Ltd.(hereinafterreferredtoas"Pu’erTeaSupplyChain") | 25% |
| ShenzhenShenbaoSanjingFoodandBeverageDevelopmentCo.,Ltd.（hereinafterreferredtoas"ShenbaoSanjing"） | 25% |
| YunnanPu’erTeaTradingCenterCo.,Ltd.(hereinafterreferredtoas"Pu’erTeaTradingCenter") | 25% |
| HuizhouShenbaoFoodCo.,Ltd.(hereinafterreferredtoas"HuizhouShenbaoFood") | 25% |
| HuizhouShenbaoTechnologyCo.,Ltd.(hereinafterreferredtoas"HuizhouShenbaoTechnology") | 25% |
| ShenzhenShenbaoPropertyManagementCo.,Ltd.(hereinafterreferredtoas"ShenbaoProperty") | 25% |
| ShenzhenShenbaoTechnologyCenterCo.,Ltd.(hereinafterreferredtoas"ShenbaoTechnologyCenter") | 25% |
| ShenzhenShenbaoIndustrial&TradingCo.,Ltd(hereinafterreferredtoas"ShenbaoIndustryandTrade") | 25% |
2.Taxpreferential
(1)VATdiscountsandapprovalAccordingtothe“NoticeoftheMinistryofFinanceandtheStateAdministrationofTaxationontheIssuesConcerningtheVATCollectionandExemptionofGrainEnterprises(CSZ[1999]No.198)”and“ShenzhenTaxService,StateTaxationAdministrationandShenzhenFinanceBureauSGSF(SCF[1999]No.428)”,confirming
thatSZCG,theCompany’ssubsidiary,anditssubsidiaries,arestate-ownedgrainpurchaseandsaleenterprisesthatundertakegraincollectionandstoragetasksforShenzhen,thegrainsoldissubjecttotax-freedeclarationbyruleandenjoystheexemptionfromVAT.Inaddition,accordingtothestipulationofthe“AnnouncementofStateAdministrationofTaxationonRelevantManagementMattersAfterClarifyingtheCancellationoftheApprovalofSomeVATPreferentialPolicies”(SATAnnouncement2015No.38),theapprovalforexemptionfromVATandtheinvolvedtaxreviewandapprovalproceduresforthestate-ownedgrainenterprisesthatundertakegraincollectionandstoragetasks,othergrainenterprisesthatoperatetax-freeprojectsandenterprisesthathaveediblevegetableoilsalesbusinessforgovernmentreservesarecancelledandchangedtorecordmanagement.Thetaxpayerdoesnotchangethecontentoftherecordmaterialsduringtheperiodoftaxexemptioncanbeputonaone-timerecord.InDecember2013,SZCGobtainedthenoticeoftheVATpreferentialrecord(SGSFJBM[2013]No.2956)fromShenzhenFutianStateAdministrationofTaxation.Inthecaseofnochangeinpolicy,thislimitedfilingperiodstartedonJanuary1
st
,2014.TheVATinputtaxamountofthepreferentialitemwasseparatelyaccountedfor,andtheinputVATcalculationmethodcannotbechangedwithin36monthsaftertheselection.Asof30June2020,thetaxexemptionpolicyhasbeenineffectsinceitsfilingin2014,andthecompany’sVATinputtaxhasnotchangedsinceitwasaccountedforseparatelyin2014,sothecompanycontinuestoenjoythetaxpreference.
(2)Stampduty,housepropertytax,andurbanlandusetaxpreferencesAccordingtothestipulationsof“NoticeoftheMinistryofFinanceandtheStateAdministrationofTaxationontheRelevantTaxPoliciesConcerningSomeNationalReservedCommodities(CS[2019]No.77)”,anddocumentsofGuangdongProvinceDepartmentofFinance,GuangdongProvincialTaxationBureauoftheStateAdministrationofTaxationandGuangdongProvincialFoodandMaterialReserveBureau(YueCaiShui[2020]No.2,confirmingthatthefundaccountbookofSZCG,theCompany’ssubsidiary,anditsdirectdepotsisexemptfromstampduty,confirmingthatthewrittenpurchaseandsalecontractsofSZCGintheprocessofundertakingthecommodityreservebusinessareexemptfromstampduty,andconfirmingthatSZCG’shousepropertyandlandusedforthecommodityreservebusinessareexemptfromhousepropertytaxandurbanlandusetax.TheexecutiontimelimitforthistaxpreferencepolicyisuptoDecember31,2021.
(3)Enterpriseincometax
1)ShenbaoHuacheng,asubsidiaryoftheCompany,obtainedthe“High-techEnterpriseCertificate”(CertificatenumberisGR201744203462)jointlyissuedbyShenzhenScienceandTechnologyInnovationCommittee,ShenzhenFinancialCommittee,ShenzhenTaxService,StateTaxationAdministrationandShenzhenLocalTaxationBureauonOctober31,2017,whichisvalidforthreeyears.Accordingtotherelevantpreferentialpoliciesofthestateforhigh-techenterprises,thequalifiedhigh-techenterprisesshallpaythecorporateincometaxatareducedincometaxrateof15%withinthreeyearsfromtheyearofthedetermination,andShenbaoHuachengenjoysthetaxpreferentialpolicyfrom2017to2019.ThequalificationofShenbaoHuachengasanationalhigh-techenterprisethisyearisunderreview.
2)TheCompany’ssubsidiary,WuyuanJufangyong,obtainedthe“High-techEnterpriseCertificate”(Certificate
numberisGR201836000703)jointlyissuedbytheScienceandTechnologyDepartmentofJiangxiProvince,theFinanceDepartmentofJiangxiProvince,andJiangxiProvincialTaxService,StateTaxationAdministrationonAugust13,2018,whichisvalidforthreeyears.Accordingtotherelevantpreferentialpoliciesofthestateforhigh-techenterprises,thequalifiedhigh-techenterprisesshallpaythecorporateincometaxatareducedincometaxrateof15%withinthreeyearsfromtheyearofthedetermination,andWuyuanJufangyongenjoysthetaxpreferentialpolicyfrom2018to2020.
3)Accordingtothe“NoticeontheIssuesConcerningtheTreatmentofCorporateIncomeTaxesforFiscalFundsofSpecialPurposesoftheMinistryofFinanceandtheStateAdministrationofTaxation(CS[2009]No.87),thegovernmentserviceincomeobtainedbySZCG,theCompany’ssubsidiary,anditssubsidiariesfromthegovernment’sgrainreservebusinessisaspecial-purposefiscalfund,whichcanbeusedasnon-taxableincomeifeligibleandisdeductedfromthetotalincomewhencalculatingthetaxableincome.Theexpensesarisingfromtheabove-mentionednon-taxableincomeforexpenditureshallnotbedeductedwhencalculatingthetaxableincome;thecalculateddepreciationandamortizationoftheassetsformedbynon-taxableincomeforexpenditureshallnotbedeductedwhencalculatingthetaxableincome.
4)ShenzhenFlour,asubsidiaryoftheCompany,isaflourprimaryprocessingenterprise,accordingtothestipulationsofthe“NoticeonIssuingtheScope(Trial)ofPrimaryProcessingofAgriculturalProductsApplicabletotheCorporateIncomeTaxPreferentialPolicy(CS[2008]No.149)”andthe“SupplementaryNoticeontheScopeofPrimaryProcessingofAgriculturalProductsApplicabletotheCorporateIncomeTaxPreferentialPolicyoftheMinistryofFinanceandtheStateAdministrationofTaxation”(CS[2011]No.26),thewheatprimaryprocessingisexemptfromincometax.
5)AccordingtotheArticleoneofthe“NoticeoftheMinistryofFinanceandtheStateAdministrationofTaxationontheCorporateIncomeTaxPreferentialPoliciesandPreferentialCatalogueforGuangdongHengqinNewDistrict,FujianPingtanComprehensiveExperimentalZone,andShenzhenQianhaiShenzhen-HongKongModernServiceIndustryCooperationZone”(CS[2014]No.26),levythecorporateincometaxatareducedincometaxrateof15%fortheencouragedindustrialenterpriseslocatedinHengqinNewDistrict,PingtanComprehensiveExperimentalZoneandQianhaiShenzhen-HongKongModernServiceIndustryCooperationZone.TheCompany’ssubsidiaries,ShenliangCold-ChainLogisticandShenliangBigKitchen,areregisteredinShenzhenQianhaiCooperationZoneandmeetthepreferentialtaxconditions,accordingtotherelevantpoliciesintheCooperationZone,theirincometaxenjoysataxpreferenceof15%,andthispreferentialtaxpolicyshallbeupto2020.
3.OtherNil
VII.Annotationtomainitemsofconsolidatedfinancialstatements
1.Monetaryfunds
InRMB
| Item | Endingbalance | Openingbalance |
| Cashonhand | 93,771.21 | 191,650.33 |
| Cashinbank | 113,457,423.97 | 154,658,586.69 |
| Othermonetaryfund | 85,791.20 | 104,520.83 |
| Total | 113,636,986.38 | 154,954,757.85 |
OtherexplanationTheCompanydidnothasaccountpledge,freezeorhaspotentialrisksincollectionendedas30June2020.
2.Tradablefinancialassets
InRMB
| Item | Endingbalance | Openingbalance |
| Financialassetsmeasuredbyfairvalueandwithvariationreckonedintocurrentgains/losses | 593,425.30 | 1,166,209.72 |
| Including: | ||
| Equityinvestmentinstrument | 593,425.30 | 1,166,209.72 |
| Including: | ||
| Total | 593,425.30 | 1,166,209.72 |
Otherexplanation:
Endingbalancereferstothe258,011sharesofA-stockunderthenameof“CBC-A”
3.Derivativefinancialassets
InRMB
| Item | Endingbalance | Openingbalance |
Otherexplanation：
4.Notereceivable
(1)Category
InRMB
| Item | Endingbalance | Openingbalance |
| Bankacceptancebill | 642,379.62 | 1,909,720.38 |
| Total | 642,379.62 | 1,909,720.38 |
InRMB
| Category | Endingbalance | Openingbalance | ||||||||
| Bookbalance | Baddebtprovision | Bookvalue | Bookbalance | Baddebtprovision | Bookvalue | |||||
| Amount | Ratio | Amount | Accrualratio | Amount | Ratio | Amount | Accrualratio | |||
| Including: | ||||||||||
| Including: | ||||||||||
Baddebtprovisionaccrualonsinglebasis:
InRMB
| Name | Endingbalance | |||
| Bookbalance | Baddebtprovision | Accrualratio | Accrualcauses | |
Baddebtprovisionaccrualonportfolio:
InRMB
| Name | Endingbalance | ||
| Bookbalance | Baddebtprovision | Accrualratio | |
Explanationonportfoliodetermines:
Iftheprovisionforbaddebtsofnotereceivableismadeinaccordancewiththegeneralmodelofexpectedcreditlosses,pleaserefertothedisclosureofotheraccountreceivablestodiscloserelatedinformationaboutbad-debtprovisions:
□Applicable√Notapplicable
(2)Baddebtprovisionaccrual,collectedorreversalintheperiod
Baddebtprovisionaccrualintheperiod:
InRMB
| Category | Openingbalance | Amountchangedintheperiod | Endingbalance |
| Accrual | Collectedorreversal | Written-off | Other |
Includingmajoramountbaddebtprovisionthatcollectedorreversalintheperiod:
□Applicable√Notapplicable
(3)Notereceivablethatpledgedatperiod-end
InRMB
| Item | Amountpledgedatperiod-end |
(4)Notesendorsementordiscountandundueonbalancesheetdate
InRMB
| Item | Amountderecognitionatperiod-end | Amountnotderecognitionatperiod-end |
(5)Notestransfertoaccountreceivabledueforfailureimplementationbydraweratperiod-end
InRMB
| Item | Amounttransfertoaccountreceivableatperiod-end |
Otherexplanation
(6)Notereceivableactuallywritten-offintheperiod
InRMB
| Item | Amountwritten-off |
Includingimportantnotereceivablethatwritten-off:
InRMB
| Enterprise | Nature | Amountwritten-off | Written-offcauses | Procedureofwritten-off | Resultedbyrelatedtransaction(Y/N) |
Explanationonnotereceivablewritten-off
5.Accountreceivable
(1)Category
InRMB
| Category | Endingbalance | Openingbalance | ||||||||
| Bookbalance | Baddebtprovision | Bookvalue | Bookbalance | Baddebtprovision | Bookvalue | |||||
| Amount | Ratio | Amount | Accrualratio | Amount | Ratio | Amount | Accrualratio | |||
| Accountreceivablewithbaddebtprovisionaccrualonasinglebasis | 101,367,140.16 | 35.30% | 98,727,160.11 | 97.40% | 2,639,980.05 | 103,361,342.42 | 23.40% | 99,663,780.43 | 96.42% | 3,697,561.99 |
| Including: | ||||||||||
| Accountreceivablewithsinglesignificantamountandwithdrawalbaddebtprovisiononsinglebasis | 10,455,627.54 | 3.64% | 10,455,627.54 | 100.00% | 10,455,627.54 | 2.36% | 10,455,627.54 | 100.00% | ||
| Accountreceivablewithsingleminoramountbutwithbaddebtsprovisionaccruedonasinglebasis | 90,911,512.62 | 31.66% | 88,271,532.57 | 97.10% | 2,639,980.05 | 92,905,714.88 | 21.04% | 89,208,152.89 | 96.02% | 3,697,561.99 |
| Accountreceivablewithbaddebtprovisionaccrualonportfolio | 185,782,232.26 | 64.70% | 3,093,258.29 | 1.66% | 182,688,973.97 | 338,299,930.10 | 76.60% | 3,309,725.41 | 0.98% | 334,990,204.69 |
| Including: | ||||||||||
| Accountsreceivablewithprovisionforbaddebtsbyaginganalysis | 130,331,922.52 | 45.39% | 3,093,258.29 | 2.37% | 127,238,664.23 | 154,655,575.22 | 35.02% | 3,309,725.41 | 2.14% | 151,345,849.81 |
| Specificobjectcombinations | 55,450,309.74 | 19.31% | 55,450,309.74 | 183,644,354.88 | 41.58% | 183,644,354.88 | ||||
| Total | 287,149,372.42 | 100.00% | 101,820,418.40 | 35.46% | 185,328,954.02 | 441,661,272.52 | 100.00% | 102,973,505.84 | 23.32% | 338,687,766.68 |
Baddebtprovisionaccrualonsinglebasis:98,727,160.11Yuan
InRMB
| Name | Endingbalance | |||
| Bookbalance | Baddebtprovision | Accrualratio | Accrualcauses | |
| GuangzhouJinheFeedCo.,Ltd | 10,455,627.54 | 10,455,627.54 | 100.00% | Slightlypossiblytakenback |
| ShenzhenFaqunIndustryCo.,Ltd. | 4,582,156.00 | 4,582,156.00 | 100.00% | Slightlypossiblytakenback |
| LiShaoyu | 2,929,128.53 | 2,929,128.53 | 100.00% | Slightlypossiblytakenback |
| ZhuhaiDoumenHuabiFeedCo.,Ltd. | 2,396,327.14 | 2,396,327.14 | 100.00% | Slightlypossiblytakenback |
| ChongqingZhongxingFoodIndustryCo.,Ltd. | 2,354,783.30 | 2,354,783.30 | 100.00% | Slightlypossiblytakenback |
| HengyangFeedfactory | 1,907,679.95 | 1,907,679.95 | 100.00% | Slightlypossiblytakenback |
| Otheraccountsreceivablewithextremelylowprobabilityofrecoveryover5years | 76,741,437.70 | 74,101,457.65 | 96.56% | Slightlypossiblytakenback |
| Total | 101,367,140.16 | 98,727,160.11 | -- | -- |
Baddebtprovisionaccrualonsinglebasis:
InRMB
| Name | Endingbalance | |||
| Bookbalance | Baddebtprovision | Accrualratio | Accrualcauses | |
Baddebtprovisionaccrualonportfolio:3,093,258.29Yuan
InRMB
| Name | Endingbalance | ||
| Bookbalance | Baddebtprovision | Accrualratio | |
| Specificobjectcombinations | 55,450,309.74 | 0.00 | 0.00% |
| Accountsreceivablewithprovisionforbaddebtsbyaginganalysis | |||
| Withinoneyear(including1-year) | 123,799,666.27 | 1,237,996.67 | 1.00% |
| 1-2years(including2-year) | 3,700,694.86 | 370,069.50 | 10.00% |
| 2-3years(including3-year) | 823,855.44 | 247,156.62 | 30.00% |
| 3-4years(including4-year) | 177,517.92 | 88,758.97 | 50.00% |
| 4-5years(including5-year) | 1,049,579.68 | 524,789.85 | 50.00% |
| Over5years | 780,608.35 | 624,486.68 | 80.00% |
| Total | 185,782,232.26 | 3,093,258.29 | -- |
Explanationonportfoliodetermines:
Amongthem,theportfolioofspecificobjectsmainlyincludesreceivablesfromthegovernment,reservefundsetc.,nobaddebtprovisionaccrual.Baddebtprovisionaccrualonportfolio:
InRMB
| Name | Endingbalance | ||
| Bookbalance | Baddebtprovision | Accrualratio | |
Explanationonportfoliodetermines:
Iftheprovisionforbaddebtsofaccountreceivableismadeinaccordancewiththegeneralmodelofexpectedcreditlosses,pleaserefertothedisclosureofotheraccountreceivablestodiscloserelatedinformationaboutbad-debtprovisions:
□Applicable√NotapplicableByaccountage
InRMB
| Accountage | Endingbalance |
| Withinoneyear(including1-year) | 179,612,011.03 |
| 1-2years | 5,216,041.40 |
| 2-3years | 810,328.13 |
| Over3years | 101,510,991.86 |
| 3-4years | 5,369,194.97 |
| 4-5years | 1,049,579.68 |
| Over5years | 95,092,217.21 |
| Total | 287,149,372.42 |
(2)Baddebtprovisionaccrual,collectedorreversalintheperiod
Baddebtprovisionaccrualintheperiod:
InRMB
| Category | Openingbalance | Amountchangedintheperiod | Endingbalance | |||
| Accrual | Collectedorreversal | Written-off | Other | |||
| Accruedbycombination | 3,309,725.41 | -216,467.12 | 3,093,258.29 | |||
| Accruedbysingleitem | 99,663,780.43 | 936,620.32 | 98,727,160.11 | |||
| Total | 102,973,505.84 | -216,467.12 | 936,620.32 | 101,820,418.40 | ||
Includingmajoramountbaddebtprovisionthatcollectedorreversalintheperiod:
InRMB
| Enterprise | Amountcollectedorreversal | Collectionway |
(3)Accountreceivableactuallywritten-offintheperiod
InRMB
| Item | Amountwritten-off |
Includingmajoraccountreceivablewritten-off:
InRMB
| Enterprise | Nature | Amountwritten-off | Written-offcauses | Procedureofwritten-off | Resultedbyrelatedtransaction(Y/N) |
Explanationonaccountreceivablewritten-off:
(4)Top5accountreceivablesatendingbalancebyarrearsparty
InRMB
| Enterprise | Endingbalanceofaccountsreceivable | Proportionintotalreceivablesatendingbalance | Baddebtpreparationendingbalance |
| First | 16,972,520.00 | 5.91% | 169,725.20 |
| Second | 10,455,627.54 | 3.64% | 10,455,627.54 |
| Third | 10,414,520.40 | 3.63% | 104,145.20 |
| Fourth | 10,110,243.00 | 3.52% | 101,102.43 |
| Fifth | 9,807,933.95 | 3.42% | 98,079.34 |
| Total | 57,760,844.89 | 20.12% |
(5)Accountreceivablede-recognizedduetofinancialassetstransfer
(6)AssetsandliabilitiesresultedbyaccountreceivabletransferandcontinuesinvolvementOtherexplanation:
6.Accountreceivablefinancing
InRMB
| Item | Endingbalance | Openingbalance |
Changesofaccountreceivablefinancingandchangeoffairvalueintheperiod
□Applicable√NotapplicableIftheimpairmentprovisionofaccountreceivablefinancingismadeinaccordancewiththegeneralmodelofexpectedcreditlosses,pleaserefertothedisclosureofotheraccountreceivablestodiscloserelatedinformationaboutimpairmentprovision:
□Applicable√NotapplicableOtherexplanation:
7.Accountspaidinadvance
(1)Byaccountage
InRMB
| Accountage | Endingbalance | Openingbalance | ||
| Amount | Ratio | Amount | Ratio | |
| Withinoneyear | 33,215,618.77 | 98.69% | 8,782,989.64 | 95.44% |
| 1-2years | 250,762.38 | 0.75% | 200,837.84 | 2.18% |
| 2-3years | 123,011.05 | 0.36% | 59,439.42 | 0.65% |
| Over3years | 67,746.99 | 0.20% | 159,663.81 | 1.73% |
| Total | 33,657,139.19 | -- | 9,202,930.71 | -- |
Explanationonreasonsoffailuretosettleonimportantaccountpaidinadvancewithageoveroneyear:
Nil
(2)Top5accountpaidinadvanceatendingbalancebyprepaymentobject
Totalperiod-endbalanceoftopfiveaccountpaidinadvancebyprepaymentobjectamountedto24,733,028.63Yuan,takes73.48percentofthetotalpaidinadvanceatperiod-end.Otherexplanation:
8.Otheraccountreceivable
InRMB
| Item | Endingbalance | Openingbalance |
| Otheraccountreceivable | 28,304,818.99 | 25,758,695.07 |
| Total | 28,304,818.99 | 25,758,695.07 |
(1)Interestreceivable
1)Category
InRMB
| Item | Endingbalance | Openingbalance |
2)Significantoverdueinterest
InRMB
| Borrower | Endingbalance | Overduetime | Overduecauses | Whetherimpairmentoccursanditsjudgmentbasis |
Otherexplanation:
3)Accrualofbaddebtprovision
□Applicable√Notapplicable
(2)Dividendreceivable
1)Category
InRMB
| Item(orinvestedenterprise) | Endingbalance | Openingbalance |
2)Importantdividendreceivablewithaccountageoveroneyear
InRMB
| Item(orinvestedenterprise) | Endingbalance | Accountage | Reasonsfornotcollection | Whetherimpairmentoccursanditsjudgmentbasis |
3)Accrualofbaddebtprovision
□Applicable√NotapplicableOtherexplanation:
(3)Otheraccountreceivable
1)Bynature
InRMB
| Nature | Endingbookbalance | Openingbookbalance |
| Marginanddeposit | 20,878,108.40 | 13,760,145.15 |
| Exporttaxrebate | 263,845.71 | |
| Otherintercoursefunds | 104,321,388.16 | 109,796,076.74 |
| Total | 125,463,342.27 | 123,556,221.89 |
2)Accrualofbaddebtprovision
InRMB
| Baddebtprovision | PhaseI | PhaseII | PhaseIII | Total |
| Expectedcreditlossesovernext12months | Expectedcreditlossesfortheentireduration(withoutcreditimpairmentoccurred) | Expectedcreditlossesfortheentireduration(withcreditimpairmentoccurred) | ||
| BalanceonJan.1,2020 | 2,996,278.20 | 94,801,248.62 | 97,797,526.82 | |
| BalanceofJan.1,2020intheperiod | —— | —— | —— | —— |
| Currentaccrual | -603,642.41 | 204,763.50 | -398,878.91 | |
| Currentreversal | 240,000.00 | 240,000.00 | ||
| Currentwrittenoff | 124.63 | 124.63 | ||
| BalanceonJun.30,2020 | 2,392,511.16 | 94,766,012.12 | 97,158,523.28 |
Changeofbookbalanceoflossprovisionwithamounthasmajorchangesintheperiod
□Applicable√NotapplicableByaccountage
InRMB
| Accountage | Endingbalance |
| Withinoneyear(including1-year) | 18,100,976.18 |
| 1-2years | 5,214,737.01 |
| 2-3years | 2,216,899.04 |
| Over3years | 99,930,730.04 |
| 3-4years | 4,578,876.39 |
| 4-5years | 1,873,952.51 |
| Over5years | 93,477,901.14 |
| Total | 125,463,342.27 |
3)Baddebtprovisionaccrual,collectedorreversalintheperiod
Baddebtprovisionaccrualintheperiod:
InRMB
| Category | Openingbalance | Amountchangedintheperiod | Endingbalance | |||
| Accrual | Collectedorreversal | Writtenoff | Other | |||
| Combinedaccrual | 2,996,278.20 | -603,642.41 | 124.63 | 2,392,511.16 | ||
| Singleaccrual | 94,801,248.62 | 204,763.50 | 240,000.00 | 94,766,012.12 | ||
| Total | 97,797,526.82 | -398,878.91 | 240,000.00 | 124.63 | 97,158,523.28 | |
Includingmajoramountwithbaddebtprovisionreverseorcollectedintheperiod:
InRMB
| Enterprise | Amountreversalorcollected | Collectionway |
4)Otheraccountreceivableactuallywritten-offintheperiod
InRMB
| Item | Amountwritten-off |
| Otheraccountreceivableactuallywritten-off | 124.63 |
Includingimportantotheraccountreceivablewritten-off:
InRMB
| Enterprise | Nature | Amountwritten-off | Written-offcauses | Procedureofwritten-off | Resultedbyrelatedtransaction(Y/N) |
Explanationonotheraccountreceivablewritten-off:
5)Top5otherreceivablesatendingbalancebyarrearsparty
InRMB
| Enterprise | Nature | Endingbalance | Accountage | Ratiointotalendingbalanceofotheraccountreceivables | Endingbalanceofbaddebtreserve |
| First | Intercoursefunds | 24,255,375.15 | Withinoneyearto1-5yearsandover | 19.33% | 21,768,266.87 |
| Second | Intercoursefunds | 8,326,202.63 | Over5years | 6.64% | 8,326,202.63 |
| Three | Intercoursefunds | 5,602,468.81 | Over5years | 4.47% | 5,602,468.81 |
| Fourth | Intercoursefunds | 8,285,803.57 | Over5years | 6.60% | 8,285,803.57 |
| Fifth | Intercoursefunds | 5,677,473.59 | Over5years | 4.53% | 5,677,473.59 |
| Total | -- | 52,147,323.75 | -- | 41.57% | 49,660,215.47 |
6)Otheraccountreceivablesrelatedtogovernmentgrants
InRMB
| Enterprise | Governmentgrants | Endingbalance | Endingaccountage | Time,amountandbasisforcollectionpredicted |
7)Otherreceivableforterminationofconfirmationduetothetransferoffinancialassets
8)TheamountofassetsandliabilitiesthataretransferredotherreceivableandcontinuedtobeinvolvedOtherexplanation:
9.Inventories
WhetherimplementedthenewrevenuestandardsNo
(1)Category
InRMB
| Item | Endingbalance | Openingbalance |
| Bookbalance | Inventoriesfallprovisionorcontractperformancecostsimpairmentprovision | Bookvalue | Bookbalance | Inventoriesfallprovisionorcontractperformancecostsimpairmentprovision | Bookvalue | |
| Rawmaterials | 65,435,509.36 | 19,314,135.53 | 46,121,373.83 | 56,703,874.41 | 19,314,135.53 | 37,389,738.88 |
| Goodsinprocess | 22,376,777.89 | 282,586.46 | 22,094,191.43 | 20,109,513.82 | 282,586.46 | 19,826,927.36 |
| Finishedgoods | 3,467,344,541.26 | 101,746,356.80 | 3,365,598,184.46 | 3,095,488,288.29 | 101,687,483.68 | 2,993,800,804.61 |
| Revolvingmaterial | 10,202,638.83 | 830,388.06 | 9,372,250.77 | 9,029,409.09 | 952,393.40 | 8,077,015.69 |
| Goodsintransit | 4,403,343.26 | 641,630.40 | 3,761,712.86 | 5,475,435.17 | 5,475,435.17 | |
| Workinprocess-outsourced | 5,390,363.35 | 5,290,502.32 | 99,861.03 | 5,421,792.75 | 5,290,502.32 | 131,290.43 |
| Total | 3,575,153,173.95 | 128,105,599.57 | 3,447,047,574.38 | 3,192,228,313.53 | 127,527,101.39 | 3,064,701,212.14 |
(2)Inventoriesfallprovisionorcontractperformancecostsimpairmentprovision
InRMB
| Item | Openingbalance | Currentamountincreased | Currentamountdecreased | Endingbalance | ||
| Accrual | Other | Reversalorwrite-off | Other | |||
| Rawmaterials | 19,314,135.53 | 19,314,135.53 | ||||
| Goodsinprocess | 282,586.46 | 282,586.46 | ||||
| Finishedgoods | 101,687,483.68 | 95,412,048.38 | 94,711,544.86 | 641,630.40 | 101,746,356.80 | |
| Revolvingmaterial | 952,393.40 | 122,005.34 | 830,388.06 | |||
| Goodsintransit | 641,630.40 | 641,630.40 | ||||
| Workinprocess-outsourced | 5,290,502.32 | 5,290,502.32 | ||||
| Total | 127,527,101.39 | 95,412,048.38 | 641,630.40 | 94,833,550.20 | 641,630.40 | 128,105,599.57 |
(3)Explanationoninventorieswithcapitalizationofborrowingcostsincludedatendingbalance
(4)Assetsunsettledformedbyconstructioncontractwhichhascompletedatperiod-end
10.Contractassets
InRMB
| Item | Endingbalance | Openingbalance | ||||
| Bookbalance | Impairmentprovision | Bookvalue | Bookbalance | Impairmentprovision | Bookvalue | |
Amountandreasonsforthemajorchangesofbookvalueofcontractassetsintheperiod:
InRMB
| Item | Amountchanged | Causeofchange |
Ifthebaddebtprovisionofaccrualcontractismadeinaccordancewiththegeneralmodelofexpectedcreditlosses,pleaserefertothedisclosureofotheraccountreceivablestodiscloserelatedinformationaboutbaddebtprovision:
□Applicable√NotapplicableImpairmentprovisionofcontractassetsintheperiod
InRMB
| Item | Currentaccrual | Currentreversal | Chargeoff/Written-off | Causes |
Otherexplanation:
11.Assetsheldforsale
InRMB
| Item | Endingbookbalance | Impairmentprovision | Endingbookvalue | Fairvalue | Estimateddisposalcost | Estimateddisposaltime |
Otherexplanation:
12.Non-currentassetduewithinoneyear
InRMB
| Item | Endingbalance | Openingbalance |
Importantcreditors’investment/othercreditors’investment
InRMB
| Item | Endingbalance | Openingbalance | ||||||
| Facevalue | Couponrate | Actualrate | Maturitydate | Facevalue | Couponrate | Actualrate | Maturitydate | |
Otherexplanation:
13.Othercurrentassets
InRMB
| Item | Endingbalance | Openingbalance |
| Inputtaxtobededucted | 96,429,377.35 | 83,157,841.68 |
| Prepaidincometax | 9,441.17 | 15,985.35 |
| Financialproductsheldtomaturitywithinoneyear | 310,000,000.00 | 385,000,000.00 |
| Other | 553.37 | |
| Total | 406,438,818.52 | 468,174,380.40 |
Otherexplanation:
14.Creditors’investment
InRMB
| Item | Endingbalance | Openingbalance | ||||
| Bookbalance | Impairmentprovision | Bookvalue | Bookbalance | Impairmentprovision | Bookvalue | |
Importantcreditors’investment
InRMB
| Item | Endingbalance | Openingbalance | ||||||
| Facevalue | Couponrate | Actualrate | Maturitydate | Facevalue | Couponrate | Actualrate | Maturitydate | |
Accrualofimpairmentprovision
InRMB
| Baddebtprovision | PhaseI | PhaseII | PhaseIII | Total |
| Expectedcreditlossesovernext12months | Expectedcreditlossesfortheentireduration(withoutcreditimpairmentoccurred) | Expectedcreditlossesfortheentireduration(withcreditimpairmentoccurred) | ||
| BalanceofJan.1,2020intheperiod | —— | —— | —— | —— |
Changeofbookbalanceoflossprovisionwithamounthasmajorchangesintheperiod
□Applicable√NotapplicableOtherexplanation:
15.Othercreditors’investment
InRMB
| Item | Openingbalance | Accrualinterest | Changeoffairvalueintheperiod | Endingbalance | Cost | Accumulatedchangeoffairvalue | Lossimpairmentaccumulatedrecognizedinothercomprehensiveincome | Note |
Importantothercreditors’investment
InRMB
| Othercreditoritem | Endingbalance | Openingbalance | ||||||
| Facevalue | Couponrate | Actualrate | Maturitydate | Facevalue | Couponrate | Actualrate | Maturitydate | |
Accrualofimpairmentprovision
InRMB
| Baddebtprovision | PhaseI | PhaseII | PhaseIII | Total |
| Expectedcreditlossesovernext12months | Expectedcreditlossesfortheentireduration(withoutcreditimpairmentoccurred) | Expectedcreditlossesfortheentireduration(withcreditimpairmentoccurred) | ||
| BalanceofJan.1,2020intheperiod | —— | —— | —— | —— |
Changeofbookbalanceoflossprovisionwithamounthasmajorchangesintheperiod
□Applicable√NotapplicableOtherexplanation:
16.Long-termaccountreceivable
(1)Long-termaccountreceivable
InRMB
| Item | Endingbalance | Openingbalance | Discountrateinterval | ||||
| Bookbalance | Baddebtprovision | Bookvalue | Bookbalance | Baddebtprovision | Bookvalue | ||
Impairmentofbaddebtprovision
InRMB
| Baddebtprovision | PhaseI | PhaseII | PhaseIII | Total |
| Expectedcreditlossesovernext12months | Expectedcreditlossesfortheentireduration(withoutcreditimpairmentoccurred) | Expectedcreditlossesfortheentireduration(withcreditimpairmentoccurred) |
| BalanceofJan.1,2020intheperiod | —— | —— | —— | —— |
Changeofbookbalanceoflossprovisionwithamounthasmajorchangesintheperiod
□Applicable√Notapplicable
(2)Long-termaccountreceivablederecognitionduetofinancialassetstransfer
(3)Assetsandliabilitiesresultedbylong-termaccountreceivabletransferandcontinuesinvolvementOtherexplanation
17.Long-termequityinvestment
InRMB
| Theinvestedentity | Openingbalance(bookvalue) | Currentchanges(+,-) | Endingbalance(bookvalue) | Endingbalanceofimpairmentprovision | |||||||
| Additionalinvestment | Capitalreduction | Investmentgainsrecognizedunderequity | Othercomprehensiveincomeadjustment | Otherequitychange | Cashdividendorprofitannouncedtoissued | Accrualofimpairmentprovision | Other | ||||
| I.Jointventure | |||||||||||
| II.Associatedenterprise | |||||||||||
| ShenzhenShenbao(Xinmin)FoodsCo.,Ltd*1 | 2,870,000.00 | 2,870,000.00 | 2,870,000.00 | ||||||||
| ShenzhenShenbao(Liaoyuan)IndustrialCo.,Ltd*1 | 57,628.53 | 57,628.53 | 57,628.53 | ||||||||
| ChangzhouShenbaoChacangE-businessCo.,ltd.*2 | ||||||
| HuizhouShenbaoMananBio-technologyCo.,Ltd. | ||||||
| ShenzhenShichumingmenRestaurantManagementCo.,Ltd.*2 | ||||||
| GuangzhouShenbaoMendaoTeaCo.,Ltd. | 2,211,429.68 | 2,162,924.05 | -48,505.63 | |||
| ZhuhaiHengxingFeedIndustrialCo.,Ltd. | 31,636,707.22 | 221,203.08 | 31,857,910.30 |
| ShenzhenDuoxiEquityInvestmentFundManagementCo.,Ltd. | 3,703,604.80 | -5,039.49 | 3,698,565.31 | ||||
| ShenliangIntelligentWulianEquityInvestmentFund(Shenzhen)PartnershipEnterprise(Limited) | 25,933,923.35 | -172,863.43 | 25,761,059.92 | ||||
| SHENZHENSYDATATECHNOLOGYCO.,LTD | 9,875,647.05 | 372,194.90 | 10,247,841.95 | ||||
| Subtotal | 76,288,940.63 | 2,162,924.05 | 366,989.43 | 74,493,006.01 | 2,927,628.53 | ||
| Total | 76,288,940.63 | 2,162,924.05 | 366,989.43 | 74,493,006.01 | 2,927,628.53 |
Otherexplanation*1:thesetwocompanieshavebeenestablishedforalongtime.Atthecurrentstage,theirbusinesslicenseshavebeenrevoked.
Impairmentprovisionismadeinfullduetoabsenceofsettlement.*2:thelong-termequityinvestmentforChangzhouShenbaoChacangE-commenceCo.,LtdandShenzhenShichumingmenRestaurantManagementCo.,Ltd.whicharemeasuredbyequity;thebookbalancecountedasZeroforlossesinthetwoabovementionedenterprises
18.Otherequityinstrumentinvestment
InRMB
| Item | Endingbalance | Openingbalance |
Itemizedthenon-tradableequityinstrumentinvestmentintheperiod
InRMB
| Item | Dividendincomerecognized | Cumulativegains | Cumulativelosses | Retainedearningstransferfromothercomprehensiveincome | Causesofthosethatdesignatedmeasuredbyfairvalueandwithitsvariationreckonedintoothercomprehensiveincome | Causeofretainedearningstransferfromothercomprehensiveincome |
Otherexplanation:
19.Othernon-currentfinancialassets
InRMB
| Item | Endingbalance | Openingbalance |
| Equityinstrumentinvestment | 57,500.00 | 57,500.00 |
| Total | 57,500.00 | 57,500.00 |
Otherexplanation:
20.Investmentrealestate
(1)Measuredatcost
√Applicable□Notapplicable
InRMB
| Item | Houseandbuilding | Landuseright | Constructioninprogress | Total |
| I.Originalbookvalue | ||||
| 1.Openingbalance | 590,440,328.15 | 590,440,328.15 | ||
| 2.Currentamountincreased |
| (1)Outsourcing |
| (2)Inventory\fixedassets\constructioninprocesstransfer-in |
| (3)Increasedbycombination |
| 3.Currentamountdecreased |
| (1)Disposal |
| (2)Othertransfer-out |
| 4.Endingbalance | 590,440,328.15 | 590,440,328.15 | |
| II.Accumulateddepreciationandaccumulatedamortization | |||
| 1.Openingbalance | 320,735,390.98 | 320,735,390.98 | |
| 2.Currentamountincreased | 8,333,518.82 | 8,333,518.82 | |
| (1)Accrualoramortization | 8,333,518.82 | 8,333,518.82 |
| 3.Currentamountdecreased |
| (1)Disposal |
| (2)Othertransfer-out |
| 4.Endingbalance | 329,068,909.80 | 329,068,909.80 | |
| III.Impairmentprovision | |||
| 1.Openingbalance | |||
| 2.Currentamountincreased | |||
| (1)Accrual |
| (1)Disposal |
| (2)Othertransfer-out |
| 4.Endingbalance | |||
| IV.Bookvalue | |||
| 1.Endingbookvalue | 261,371,418.35 | 261,371,418.35 | |
| 2.Openingbookvalue | 269,704,937.17 | 269,704,937.17 |
(2)Measureonfairvalue
□Applicable√Notapplicable
(3)Investmentrealestatewithoutpropertycertificatecompleted
InRMB
| Item | Bookvalue | Reasons |
Otherexplanation
21.Fixedassets
InRMB
| Item | Endingbalance | Openingbalance |
| Fixedassets | 1,081,579,471.16 | 945,042,032.69 |
| Total | 1,081,579,471.16 | 945,042,032.69 |
(1)Fixedassets
InRMB
| Item | Houseandbuildings | Machineryequipment | Transportequipment | Electronicandotherequipment | Total |
| I.Originalbookvalue: | |||||
| 1.Openingbalance | 896,518,401.77 | 452,026,081.27 | 18,721,521.51 | 60,760,300.85 | 1,428,026,305.40 |
| 2.Currentamountincreased | 92,284,570.08 | 68,069,212.26 | 275,671.91 | 4,354,342.18 | 164,983,796.43 |
| (1)Purchase | 773,815.53 | 275,671.91 | 4,354,342.18 | 5,403,829.62 | |
| (2)Constructioninprogresstransfer-in | 92,284,570.08 | 67,295,396.73 | 159,579,966.81 |
(3)Increasedbycombination
3.Currentamountdecreased
| 3.Currentamountdecreased | 2,087,845.63 | 659,802.96 | 2,747,648.59 | ||
| (1)Disposalorscrap | 2,087,845.63 | 649,275.81 | 2,737,121.44 | ||
| (2)Otherdecreases | 10,527.15 | 10,527.15 | |||
| 4.Endingbalance | 988,802,971.85 | 520,095,293.53 | 16,909,347.79 | 64,454,840.07 | 1,590,262,453.24 |
| II.Accumulateddepreciation | |||||
| 1.Openingbalance | 191,240,117.01 | 232,572,819.43 | 13,702,651.03 | 40,480,125.26 | 477,995,712.73 |
| 2.Currentamountincreased | 12,802,425.81 | 11,187,292.49 | 694,846.01 | 3,575,140.51 | 28,259,704.82 |
| (1)Accrual | 12,802,425.81 | 11,187,292.49 | 694,846.01 | 3,575,140.51 | 28,259,704.82 |
| 3.Currentamountdecreased | 1,955,107.84 | 604,275.89 | 2,559,383.73 | ||
| (1)Disposalorscrap | 1,955,107.84 | 600,780.69 | 2,555,888.53 | ||
| (2)Otherdecreases | 3,495.20 | 3,495.20 | |||
| 4.Endingbalance | 204,042,542.82 | 243,760,111.92 | 12,442,389.20 | 43,450,989.88 | 503,696,033.82 |
| III.Impairmentprovision | |||||
| 1.Openingbalance | 689,332.71 | 4,285,356.15 | 13,871.12 | 4,988,559.98 | |
| 2.Currentamountincreased | |||||
| (1)Accrual |
| 3.Currentamountdecreased | 1,611.72 | 1,611.72 | |
| (1)Disposalorscrap | 1,611.72 | 1,611.72 |
| 4.Endingbalance | 689,332.71 | 4,285,356.15 | 12,259.40 | 4,986,948.26 |
| IV.Bookvalue | |||||
| 1.Endingbookvalue | 784,071,096.32 | 272,049,825.46 | 4,466,958.59 | 20,991,590.79 | 1,081,579,471.16 |
| 2.Openingbookvalue | 704,588,952.05 | 215,167,905.69 | 5,018,870.48 | 20,266,304.47 | 945,042,032.69 |
(2)Temporarilyidlefixedassets
InRMB
| Item | Originalbookvalue | Accumulateddepreciation | Impairmentprovision | Bookvalue | Note |
(3)Fixedassetsbyfinancingleased
InRMB
| Item | Originalbookvalue | Accumulateddepreciation | Impairmentprovision | Bookvalue |
(4)Fixedassetsleasedoutbyoperation
InRMB
| Item | Endingbookvalue |
(5)Fixassetswithoutpropertycertificationheld
InRMB
| Item | Bookvalue | Reasonsforwithoutthepropertycertification |
Otherexplanation
(6)Fixedassetsdisposal
InRMB
| Item | Endingbalance | Openingbalance |
Otherexplanation
22.Constructioninprogress
InRMB
| Item | Endingbalance | Openingbalance |
| Constructioninprogress | 749,918,300.15 | 771,971,469.43 |
| Total | 749,918,300.15 | 771,971,469.43 |
(1)Constructioninprogress
InRMB
| Item | Endingbalance | Openingbalance | ||||
| Bookbalance | Impairmentprovision | Bookvalue | Bookbalance | Impairmentprovision | Bookvalue | |
| ShenbaoPlazaproject | 3,842,333.64 | 3,842,333.64 | 3,842,333.64 | 3,842,333.64 | ||
| Dongguangrainstorageandwharfmatchingproject | 223,530,693.42 | 223,530,693.42 | 197,140,797.10 | 197,140,797.10 | ||
| DeepprocessingofDongguanIndustryandTradingFood | 168,072.78 | 168,072.78 | 120,065,528.37 | 120,065,528.37 | ||
| CDEstorageofDongguanFoodIndustrialParkandwharfmatingprojects | 455,953,672.54 | 455,953,672.54 | 399,913,306.49 | 399,913,306.49 | ||
| Grainstorageandprocessing | 61,836,807.88 | 61,836,807.88 | 42,489,084.80 | 42,489,084.80 | ||
| WorkshoptransformationofFlourCompany | 564,930.37 | 564,930.37 | 868,932.37 | 868,932.37 | ||
| Low-temperaturerenovationreconstructionandexpansionprojectinPinghu | 2,770,358.30 | 2,770,358.30 | 7,096,256.57 | 7,096,256.57 | ||
| Other | 5,996,954.60 | 903,189.74 | 5,093,764.86 | 5,300,753.47 | 903,189.74 | 4,397,563.73 |
| Total | 754,663,823.53 | 4,745,523.38 | 749,918,300.15 | 776,716,992.81 | 4,745,523.38 | 771,971,469.43 |
(2)Changesofmajorconstructioninprogress
InRMB
| ItemName | Budget | Openingbalance | Currentamountincreased | Transfer-infixedassets | OtherdecreasedinthePeriod | Endingbalance | Proportionofprojectinvestmentinbudget | Progress | Accumulatedcapitalizationofinterest | Including:amountofcapitalizationofinterestinPeriod | InterestcapitalizationrateinPeriod | Capitalresources |
| Dongguangrainstorageandwharfmatchingproject | 1,242,000,000.00 | 197,140,797.10 | 26,889,938.36 | 500,042.04 | 223,530,693.42 | 71.00% | 71.00% | 29,344,418.21 | 4,882,414.48 | 4.90% | Financialinstitutionloans | |
| DeepprocessingofDongguanIndustryandTradingFood | 292,000,000.00 | 120,065,528.37 | 287,272.65 | 120,184,728.24 | 168,072.78 | 41.00% | 41.00% | 4,834,080.16 | 4.90% | Financialinstitutionloans | ||
| CDEstorageofDongguanFoodIndustrialParkandwharfmatingprojects | 960,000,000.00 | 399,913,306.49 | 56,040,366.05 | 455,953,672.54 | 79.00% | 79.00% | 59,231,615.42 | 11,502,942.88 | 5.64% | Financialinstitutionloans | ||
| Total | 2,494,000,000.00 | 717,119,631.96 | 83,217,577.06 | 120,684,770.28 | 679,652,438.74 | -- | -- | 93,410,113.79 | 16,385,357.36 | -- |
(3)Theprovisionforimpairmentofconstructioninprogress
InRMB
| Item | Amountaccrualintheperiod | Reasonsofaccrual |
Otherexplanation
(4)Engineeringmaterial
InRMB
| Item | Endingbalance | Openingbalance | ||||
| Bookbalance | Impairmentprovision | Bookvalue | Bookbalance | Impairmentprovision | Bookvalue | |
Otherexplanation:
23.Productivebiologicalasset
(1)Measuredbycost
√Applicable□Notapplicable
InRMB
| Item | Plant | Livestock | Forestry | Fisheries | Total |
| Teatree | |||||
| I.Originalbookvalue | |||||
| 1.Openingbalance | 416,771.28 | 416,771.28 | |||
| 2.Currentamountincreased | |||||
| (1)Outsourcing | |||||
| (2)self-cultivate |
| 3.Currentamountdecreased |
| (1)Disposal |
| (2)Other |
| 4.Endingbalance | 416,771.28 | 416,771.28 | ||
| II.Accumulateddepreciation | ||||
| 1.Openingbalance | 19,384.72 | 19,384.72 | ||
| 2.Currentamountincreased | 4,846.18 | 4,846.18 | ||
| (1)Accrual | 4,846.18 | 4,846.18 |
| 3.Currentamountdecreased |
| (1)Disposal |
| (2)Other |
| 4.Endingbalance | 24,230.90 | 24,230.90 | ||
| III.Impairmentprovision | ||||
| 1.Openingbalance | ||||
| 2.Currentamountincreased | ||||
| (1)Accrual |
| 3.Currentamountdecreased |
| (1)Disposal |
| (2)Other |
| 4.Endingbalance | ||||
| IV.Bookvalue | ||||
| 1.Endingbookvalue | 392,540.38 | 392,540.38 | ||
| 2.Openingbookvalue | 397,386.56 | 397,386.56 |
(2)Measuredbyfairvalue
□Applicable√Notapplicable
24.Oilandgasasset
□Applicable√Notapplicable
25.Right-of-useasset
InRMB
| Item | Total |
Otherexplanation:
26.Intangibleassets
(1)Intangibleassets
InRMB
| Item | Landuseright | Patent | Non-patenttechnology | Other | Total |
| I.Originalbookvalue | |||||
| 1.Openingbalance | 630,510,783.19 | 47,245,918.89 | 11,311,677.63 | 32,955,523.47 | 722,023,903.18 |
| 2.Currentamountincreased | 5,497,797.99 | 240,000.00 | 5,737,797.99 | ||
| (1)Purchase | 5,497,797.99 | 0.00 | 5,497,797.99 | ||
| (2)internalR&D | 0.00 | 240,000.00 | 240,000.00 | ||
| (3)Increasedbycombination |
| 3.Currentamountdecreased | 0.00 | 0.00 | 0.00 | |
| (1)Disposal | 0.00 | 0.00 | 0.00 |
| 4.Endingbalance | 630,510,783.19 | 47,245,918.89 | 16,809,475.62 | 33,195,523.47 | 727,761,701.17 |
| II.Accumulateddepreciation | |||||
| 1.Openingbalance | 84,816,102.13 | 25,893,578.33 | 5,018,387.91 | 10,445,149.92 | 126,173,218.29 |
| 2.Currentamountincreased | 7,597,938.70 | 922,718.55 | 1,695,920.94 | 753,100.29 | 10,969,678.48 |
| (1)Accrual | 7,597,938.70 | 922,718.55 | 1,445,533.19 | 753,100.29 | 10,719,290.73 |
| (2)Otherdecreases | 250,387.75 | 0.00 | 250,387.75 | ||
| 3.Currentamountdecreased | 0.00 | 0.00 | 0.00 | ||
| (1)Disposal | 0.00 | 0.00 | 0.00 |
| 4.Endingbalance | 92,414,040.83 | 26,816,296.88 | 6,714,308.85 | 11,198,250.21 | 137,142,896.77 |
| III.Impairmentprovision | |||||
| 1.Openingbalance | 5,553,283.54 | 1,130,341.88 | 0.00 | 6,683,625.42 | |
| 2.Currentamountincreased | 0.00 | 0.00 | 0.00 | ||
| (1)Accrual |
| 3.Currentamountdecreased | 0.00 | 0.00 | 0.00 | |
| (1)Disposal | 0.00 | 0.00 | 0.00 |
| 4.Endingbalance | 5,553,283.54 | 1,130,341.88 | 0.00 | 6,683,625.42 | |
| IV.Bookvalue | |||||
| 1.Endingbookvalue | 538,096,742.36 | 14,876,338.47 | 8,964,824.89 | 21,997,273.26 | 583,935,178.98 |
| 2.Openingbookvalue | 545,694,681.06 | 15,799,057.02 | 5,162,947.84 | 22,510,373.55 | 589,167,059.47 |
RatiooftheintangibleassetsfrominternalR&Dinbalanceofintangibleassetsatperiod-end
(2)Landuserightswithoutcertificateofownership
InRMB
| Item | Bookvalue | Reasonsforwithoutthepropertycertification |
| Landuseright | 26,124,232.19 | Stillunderprocessing |
| Landuseright | 7,849,990.00 | Collectiveland,cannothandlethecertificateofownership |
| Total | 33,974,222.19 |
Otherexplanation:
27.ExpenseonResearchandDevelopment
InRMB
| Item | Openingbalance | Currentamountincreased | Currentamountdecreased | Endingbalance | ||||
| Internaldevelopmentexpenditure | Other | Confirmedasintangibleassets | Transfertocurrentprofitandloss | |||||
Otherexplanation
28.Goodwill
(1)Originalbookvalue
InRMB
TotalTheinvestedentityormattersforminggoodwill
| Theinvestedentityormattersforminggoodwill | Openingbalance | Currentincreased | Currentdecreased | Endingbalance | ||
| Formedbybusinesscombination | Dispose | |||||
| YunnanPu’erTeaTradingCenterCo.,Ltd. | 673,940.32 | 673,940.32 | ||||
| Total | 673,940.32 | 673,940.32 | ||||
(2)impairmentprovision
InRMB
| Theinvestedentityormattersforminggoodwill | Openingbalance | Currentincreased | Currentdecreased | Endingbalance | ||
| Accrual | Dispose | |||||
| YunnanPu’erTeaTradingCenterCo.,Ltd. | 673,940.32 | 673,940.32 | ||||
| Total | 673,940.32 | 673,940.32 | ||||
RelevantinformationabouttheassetsgrouporportfoliogoodwillincludedInMay2016,the15%equityofPu’erTeaTradingCenterheldbyYunnanHengFengXiangInvestmentCo.,LtdwasacquiredbyJuFangYongHolding,thesub-subsidiaryoftheCompany,aftercompletionoftheacquisition,theCompanyhascontroloverthePu’erTeaTradingCenter.ThebalancebetweenthecombinedcostandthefairvalueofnetassetsonthecombiningdateformedgoodwillofRMB673,940.32.Instructionsforgoodwillimpairmentstestprocessandkeyparameters(suchastheforecastperiodgrowthrate,stableperiodgrowthrate,profitrate,discountrate,andforecastperiodwhenestimatingthepresentvalueofthefuturecashflow),andthemethodofconfirmingtheimpairmentlossofgoodwill:
ImpactofgoodwillimpairmenttestOtherexplanation
29.Long-termexpensestobeapportioned
InRMB
| Item | Openingbalance | Currentamountincreased | Currentamortization | Otherdecreased | Endingbalance |
| Improveexpenditureforfixassets | 9,211,089.66 | 5,178,825.70 | 1,111,933.61 | 13,277,981.75 | |
| Decorationfee | 4,528,548.18 | 425,002.88 | 1,060,372.51 | 3,893,178.55 | |
| Improveexpenditureforinvestmentrealestate | |||||
| AffiliatedprojectofresidentareainWuyuanJuFangYong | 124,210.64 | 14,278.97 | 109,931.67 | ||
| Other*1 | 5,991,380.21 | 198,882.04 | 638,303.53 | 5,551,958.72 | |
| Total | 19,855,228.69 | 5,802,710.62 | 2,824,888.62 | 22,833,050.69 |
Otherexplanation*1.Mainlyduetolong-termdeferredexpensessuchasHuizhouShenbao2.55millionyuan(includingoutdoorsewageinstallationandsystemmaintenancecosts),ShenzhenCerealsGroup2.18millionyuan(includingmaintenanceauxiliarycosts).
30.Deferredincometaxasset/Deferredincometaxliabilities
(1)Deferredincometaxassetswithoutoffset
InRMB
| Item | Endingbalance | Openingbalance | ||
| Deductibletemporarydifferences | Deferredincometaxasset | Deductibletemporarydifferences | Deferredincometaxasset | |
| Impairmentprovisionforassets | 59,454,288.69 | 14,511,971.59 | 58,355,685.95 | 14,290,490.90 |
| Unrealizedprofitsininternaltransactions | 2,983,604.44 | 452,523.40 | 973,157.01 | 243,289.25 |
| Deferredincome | 118,461.58 | 29,615.39 | 183,076.96 | 45,769.24 |
| Creditimpairmentloss | 98,701,484.68 | 24,558,903.71 | 98,478,516.09 | 24,503,161.57 |
| Total | 161,257,839.39 | 39,553,014.09 | 157,990,436.01 | 39,082,710.96 |
(2)Deferredincometaxliabilitywithoutoffset
InRMB
| Item | Endingbalance | Openingbalance | ||
| Taxabletemporarydifferences | Deferredincometaxliabilities | Taxabletemporarydifferences | Deferredincometaxliabilities | |
| Assetevaluationincrementofenterprisecombineunderdifferentcontrol | 49,427,574.56 | 12,356,893.67 | 50,255,008.79 | 12,563,752.22 |
| Total | 49,427,574.56 | 12,356,893.67 | 50,255,008.79 | 12,563,752.22 |
(3)Deferredincometaxassetsanddeferredincometaxliabilitieslistedafteroff-set
InRMB
| Item | Trade-offbetweenthedeferredincometaxassetsandliabilities | Endingbalanceofdeferredincometaxassetsorliabilitiesafteroff-set | Trade-offbetweenthedeferredincometaxassetsandliabilitiesatperiod-begin | Openingbalanceofdeferredincometaxassetsorliabilitiesafteroff-set |
| Deferredincometaxasset | 39,553,014.09 | 39,082,710.96 | ||
| Deferredincometaxliabilities | 12,356,893.67 | 12,563,752.22 |
(4)Detailsofuncertaindeferredincometaxassets
InRMB
| Item | Endingbalance | Openingbalance |
| Deductibletemporarydifferences | 310,359,937.89 | 309,898,433.67 |
| Deductibleloss | 330,162,451.72 | 330,162,451.72 |
| Total | 640,522,389.61 | 640,060,885.39 |
(5)Deductiblelossesofun-recognizeddeferredincometaxassetsexpiredonthefollowedyear
InRMB
| Year | Endingamount | Openingamount | Note |
Otherexplanation:
31.Othernon-currentasset
InRMB
| Item | Endingbalance | Openingbalance | ||||
| Bookbalance | Impairmentprovision | Bookvalue | Bookbalance | Impairmentprovision | Bookvalue | |
| Prepaidforequipment | 611,965.84 | 611,965.84 | 611,965.84 | 611,965.84 | ||
| Prepaidforsystem | 1,260,000.00 | 1,260,000.00 | 1,260,000.00 | 1,260,000.00 | ||
| Total | 1,871,965.84 | 1,871,965.84 | 1,871,965.84 | 1,871,965.84 | ||
Otherexplanation:
32.Short-termloans
(1)Category
InRMB
| Item | Endingbalance | Openingbalance |
| Loanincredit | 271,271,250.10 | 23,595,000.00 |
| Total | 271,271,250.10 | 23,595,000.00 |
Explanationoncategoryofshort-termloans:
(2)Overdueshort-termloanswithoutpayment
RMB0short-termloansoverduewithoutpaidatperiod-end,includingfollowmajoramount:
InRMB
| Borrower | Endingbalance | Loanrate | Overduetime | Overdueinterest |
Otherexplanation:
33.Tradablefinancialliability
InRMB
| Item | Endingbalance | Openingbalance |
| Including: | ||
| Including: |
Otherexplanation:
34.Derivativefinancialliability
InRMB
| Item | Endingbalance | Openingbalance |
Otherexplanation:
35.Notepayable
InRMB
| Category | Endingbalance | Openingbalance |
36.Accountpayable
(1)Accountpayable
InRMB
| Item | Endingbalance | Openingbalance |
| Tradeaccountspayable | 128,507,402.75 | 201,806,654.53 |
| Accountpayableforengineering | 42,327,591.67 | 55,979,629.86 |
| Other | 2,235,937.35 | 8,337,186.59 |
| Total | 173,070,931.77 | 266,123,470.98 |
(2)Majoraccountspayablewithageoveroneyear
InRMB
| Item | Endingbalance | Reasonsofoutstandingorcarry-over |
Otherexplanation:
37.Accountsreceivedinadvance
(1)Accountsreceivedinadvance
InRMB
| Item | Endingbalance | Openingbalance |
| Accountforgoodsreceivedinadvance | 99,465,819.87 | 134,989,316.21 |
| Other | 245,029,442.81 | 2,222,515.79 |
| Total | 344,495,262.68 | 137,211,832.00 |
(2)Importantaccountreceivedinadvancewithaccountageoveroneyear
InRMB
| Item | Endingbalance | Reasonsofoutstandingorcarry-over |
Otherexplanation:
38.Contractliabilities
InRMB
| Item | Endingbalance | Openingbalance |
Amountandreasonsforimportantchangesofbookvalueintheperiod
InRMB
| Item | Amountchanged | Reasonsofchanges |
39.Wagepayable
(1)Wagepayable
InRMB
| Item | Openingbalance | Currentincreased | Currentdecreased | Endingbalance |
| I.Short-termcompensation | 170,486,447.93 | 130,920,373.69 | 150,463,161.73 | 150,943,659.89 |
| II.After-servicewelfare-definedcontributionplans | 23,551,781.02 | 2,852,565.20 | 8,423,662.17 | 17,980,684.05 |
| III.Dismissedwelfare | 1,038,347.60 | 904,781.49 | 1,095,309.49 | 847,819.60 |
| Total | 195,076,576.55 | 134,677,720.38 | 159,982,133.39 | 169,772,163.54 |
(2)Short-termcompensation
InRMB
| Item | Openingbalance | Currentincreased | Currentdecreased | Endingbalance |
| 1.Wage,bonus,allowanceandsubsidy | 160,062,092.35 | 115,565,270.15 | 132,354,865.33 | 143,272,497.17 |
| 2.Employees’welfare | 675,866.67 | 5,533,003.42 | 6,208,870.09 | |
| 3.Socialinsurancecharges | 86,045.19 | 2,719,819.84 | 2,716,032.70 | 89,832.33 |
| Including:medicalinsurancepremium | 41,753.99 | 2,441,198.47 | 2,435,855.76 | 47,096.70 |
| Industrialinjuryinsurancepremiums | 605.17 | 12,076.99 | 12,483.13 | 199.03 |
| Maternityinsurancepremiums | 2,300.25 | 102,398.80 | 103,548.23 | 1,150.82 |
| Other | 41,385.78 | 164,145.58 | 164,145.58 | 41,385.78 |
| 4.Housingpublicreserve | 124,800.30 | 4,912,048.64 | 4,912,048.64 | 124,800.30 |
| 5.Tradeunionfeeandeducationfee | 9,537,643.42 | 2,190,231.64 | 4,271,344.97 | 7,456,530.09 |
| Total | 170,486,447.93 | 130,920,373.69 | 150,463,161.73 | 150,943,659.89 |
(3)Definedcontributionplans
InRMB
| Item | Openingbalance | Currentincreased | Currentdecreased | Endingbalance |
| 1.Basicendowmentinsurancepremiums | 423,432.45 | 980,175.14 | 1,020,483.44 | 383,124.15 |
| 2.Unemploymentinsurancepremiums | 2,554.47 | 11,579.54 | 12,231.87 | 1,902.14 |
| 3.Enterpriseannuity | 23,125,794.10 | 1,860,810.52 | 7,390,946.86 | 17,595,657.76 |
| Total | 23,551,781.02 | 2,852,565.20 | 8,423,662.17 | 17,980,684.05 |
Otherexplanation:
40.Taxespayable
InRMB
| Item | Endingbalance | Openingbalance |
| VAT | 1,900,674.71 | 2,206,356.73 |
| Enterpriseincometax | 6,397,513.34 | 30,123,982.59 |
| Personalincometax | 6,060,057.17 | 1,251,969.61 |
| Urbanmaintenanceandconstructiontax | 110,080.86 | 104,892.72 |
| Housepropertytax | 3,197,932.81 | 1,348,616.75 |
| Educationalsurtax | 83,167.68 | 78,996.91 |
| Usetaxofland | 656,594.09 | 275,026.35 |
| Stamptax | 107,301.51 | 599,525.05 |
| Other | 801,143.08 | 1,058,246.76 |
| Total | 19,314,465.25 | 37,047,613.47 |
Otherexplanation:
41.Otheraccountpayable
InRMB
| Item | Endingbalance | Openingbalance |
| Interestpayable | 802,489.86 | 1,411,457.29 |
| Dividendpayable | 2,933,690.04 | 2,933,690.04 |
| Otheraccountpayable | 374,873,923.29 | 232,032,023.80 |
| Total | 378,610,103.19 | 236,377,171.13 |
(1)Interestpayable
InRMB
| Item | Endingbalance | Openingbalance |
| Long-termloansinterestforinstallment | 802,489.86 | 1,411,457.29 |
| Total | 802,489.86 | 1,411,457.29 |
Majoroverdueinterest:
InRMB
| Borrower | Overdueamount | Overduecauses |
Otherexplanation:
(2)Dividendpayable
InRMB
| Item | Endingbalance | Openingbalance |
| Unmanagedshares | 242,719.90 | 242,719.90 |
| ShenzhenInvestmentManagementCompany*1 | 2,690,970.14 | 2,690,970.14 |
| Total | 2,933,690.04 | 2,933,690.04 |
Otherexplanation,includingimportantdividendpayableoveroneyearwithoutpayment,disclosereasonsforun-paid:
*1Formerlargestshareholder,problemsleftoverfromhistoricalguarantees.
(3)Otheraccountpayable
1)Bynature
InRMB
| Item | Endingbalance | Openingbalance |
| Engineeringqualityretentionmoneyandfundoftail | 12,449,033.63 | 3,797,078.78 |
| Depositandmargin | 142,989,893.26 | 116,032,480.36 |
| Intercoursefundsandother | 203,877,982.99 | 105,177,684.59 |
| Drawingexpensesinadvance | 15,557,013.41 | 7,024,780.07 |
| Total | 374,873,923.29 | 232,032,023.80 |
2)Significantotheraccountpayablewithoveroneyearage
InRMB
| Item | Endingbalance | Reasonsofoutstandingorcarry-over |
| ZhanjiangChangshan(Shenzhen)EcologicalBreedingCo.,Ltd. | 7,999,570.83 | Notyetexpired |
| Total | 7,999,570.83 | -- |
Otherexplanation
42.Liabilityheldforsale
InRMB
| Item | Endingbalance | Openingbalance |
Otherexplanation:
43.Non-currentliabilitiesduewithinoneyear
InRMB
| Item | Endingbalance | Openingbalance |
| Long-termloansduewithinoneyear | 71,800,514.64 | 67,420,012.16 |
| Total | 71,800,514.64 | 67,420,012.16 |
Otherexplanation:
44.Othercurrentliabilities
InRMB
| Item | Endingbalance | Openingbalance |
| Governmentservicerevenueappropriationinadvance | 684,034.12 | 219,151,968.63 |
| Total | 684,034.12 | 219,151,968.63 |
Changeofshort-termbondspayable:
InRMB
| Bonds | Facevalue | Issuancedate | Bondsterm | Amountissued | Openingbalance | Issuedintheperiod | Accrualinterestbyfacevalue | Premiumanddiscountamortization | Paidintheperiod | Endingbalance |
Otherexplanation:
45.Long-termloans
(1)Category
InRMB
| Item | Endingbalance | Openingbalance |
| Mortgageloan | 712,348,080.85 | 673,642,296.22 |
| Guaranteeloan | 147,083,964.13 | 162,270,260.19 |
| Total | 859,432,044.98 | 835,912,556.41 |
Explanationoncategoryoflong-termloans:
Otherexplanation,includinginterestraterange:
46.Bondspayable
(1)Bondspayable
InRMB
| Item | Endingbalance | Openingbalance |
(2)Changesofbondspayable(notincludingtheotherfinancialinstrumentofpreferredstockandperpetualcapitalsecuritiesthatclassifyasfinancialliability)
InRMB
| Bonds | Facevalue | Issuancedate | Bondsterm | Amountissued | Openingbalance | Issuedintheperiod | Accrualinterestbyfacevalue | Premiumanddiscountamortization | Paidintheperiod | Endingbalance |
| Total | -- | -- | -- |
(3)Convertibleconditionsandtimeforsharestransferfortheconvertiblebonds
(4)OtherfinancialinstrumentsclassifyasfinancialliabilityBasicinformationoftheoutstandingpreferredstockandperpetualcapitalsecuritiesatperiod-endChangesofoutstandingpreferredstockandperpetualcapitalsecuritiesatperiod-end
InRMB
| Outstandingfinancialinstrument | Period-beginning | Currentincreased | Currentdecreased | Period-end | ||||
| Amount | Bookvalue | Amount | Bookvalue | Amount | Bookvalue | Amount | Bookvalue | |
BasisforfinancialliabilityclassificationforotherfinancialinstrumentOtherexplanation
47.Leaseliability
InRMB
| Item | Endingbalance | Openingbalance |
Otherexplanation
48.Long-termaccountpayable
InRMB
| Item | Endingbalance | Openingbalance |
| Specialaccountpayable | 15,990,925.48 | 15,856,950.01 |
| Total | 15,990,925.48 | 15,856,950.01 |
(1)Bynature
InRMB
| Item | Endingbalance | Openingbalance |
Otherexplanation:
(2)Specialaccountpayable
InRMB
| Item | Openingbalance | Currentincreased | Currentdecreased | Endingbalance | Causes |
| Depreciationfundforgraindepositsandspecialfundforgrainindustryresearch | 15,856,950.01 | 133,975.47 | 15,990,925.48 | ThedepreciationfundofthereservegraindepotisallocatedbythefinancetoSZCGasaspecialfundandinterestthatthegovernmentinvestsinthedepreciationofthereservegraindepot. | |
| Total | 15,856,950.01 | 133,975.47 | 15,990,925.48 | -- |
Otherexplanation:
49.Long-termwagepayable
(1)Long-termwagepayable
InRMB
| Item | Endingbalance | Openingbalance |
(2)Changesofdefinedbenefitplans
Presentvalueofthedefinedbenefitplans:
InRMB
| Item | CurrentPeriod | LastPeriod |
Schemeassets:
InRMB
| Item | CurrentPeriod | LastPeriod |
Netliability(assets)ofthedefinedbenefitplans
InRMB
| Item | CurrentPeriod | LastPeriod |
Contentofdefinedbenefitplansandrelevantrisks,impactonfuturecashflowoftheCompanyaswellastimesanduncertainty:
Majoractuarialassumptionandsensitivityanalysis:
Otherexplanation:
50.Accrualliabilities
InRMB
| Item | Endingbalance | Openingbalance | Causes |
| Externalguarantee | 3,500,000.00 | 3,500,000.00 | Note1 |
| Total | 3,500,000.00 | 3,500,000.00 | -- |
Otherexplanation,includingrelevantimportantassumptionsandestimation:
Note1:FortheguaranteeofChangzhouShenbaowithinthescopeof3.5millionyuantoprovidejointliabilityforcompensation.
51.Deferredincome
InRMB
| Item | Openingbalance | Currentincreased | Currentdecreased | Endingbalance | Causes |
| Governmentsubsidiesrelatedtoassets | 101,750,431.65 | 5,000,000.00 | 2,055,335.31 | 104,695,096.34 | Seetablebelowfordetails |
| Governmentsubsidiesrelatedtoincome | 41,809.66 | 11,000.00 | 30,809.66 | Seetablebelowfordetails | |
| Total | 101,792,241.31 | 5,000,000.00 | 2,066,335.31 | 104,725,906.00 | -- |
Itemwithgovernmentgrantsinvolved:
InRMB
| Liability | Openingbalance | NewgrantsinthePeriod | Amountreckonedinnon-operationrevenue | Amountreckonedinotherincome | Costreductionintheperiod | Otherchanges | Endingbalance | Assets-related/incomerelated |
| (1)Baseoffurtherprocessingforteaandnatureplants | 825,000.00 | 137,500.00 | 687,500.00 | Assets-related | ||||
| (2)EnterprisetechnologycenterisamunicipalR&Dcenter.Subsidiesforindustrialtechnologicaladvancement | 1,783,276.57 | 102,012.30 | 1,681,264.27 | Assets-related | ||||
| (3)Projectgrantsforyearsforagriculturaldistrict,XihuZone | 183,076.96 | 64,615.38 | 118,461.58 | Assets-related | ||||
| (4)Keytechnologyresearchanddevelopmentforthe | 235,113.94 | 105,790.60 | 129,323.34 | Assets-related |
| preparationofhigh-qualityaromaextractsbasedontheuseofteaaromaprecursors | ||||||
| (5)Keytechnologyresearchanddevelopmentforthepreparationofhigh-qualityaromaextractsbasedontheuseofteaaromaprecursors | 41,809.66 | 11,000.00 | 30,809.66 | Income-related | ||
| (6)Industrializationofinstantteapowder | 1,887,690.79 | 98,222.94 | 1,789,467.85 | Assets-related | ||
| (7)Grantforkeytechnologyresearchandindustrializationofinstantteapowder | 138,766.19 | 7,122.51 | 131,643.68 | Assets-related | ||
| (8)Specialfundforthedevelopmentof | 3,187,683.87 | 175,604.54 | 3,012,079.33 | Assets-related |
| strategicemergingindustriesinShenzhen(plantdeepprocessingengineering)(ShenDevelopment&ReformNo.20131601) | ||||||
| (9)Constructionamountfor50tonsforclearlyprocessingforMingyoutea | 374,999.98 | 62,500.02 | 312,499.96 | Assets-related | ||
| (10)SubsidyforteaseedingofNewTeaGardeninWangkou | 45,020.68 | 554.64 | 44,466.04 | Assets-related | ||
| (11)Subsidyforsupplysystemconstructionofagriculturalproducts | 550,000.00 | 100,000.00 | 450,000.00 | Assets-related | ||
| (12)GrainstorageprojectofDongguanShenliangLogistics | 7,980,160.71 | 131,128.56 | 7,849,032.15 | Assets-related |
| Co.,Ltd.-StorageA | ||||||
| (13)PhaseIIofgrainstorageprojectofDongguanShenliangLogisticsCo.,Ltd.-StorageB | 31,937,399.00 | 515,650.26 | 31,421,748.74 | Assets-related | ||
| (14)Grain,oilandfoodheadquartersandinnovativepublicserviceplatformofDongguanShenliangLogisticsCo.,Ltd. | 18,000,000.00 | 18,000,000.00 | Assets-related | |||
| (15)Specialfundsforintelligentupgradingandtransformationofgrainwarehouseforthe2017“GrainSafetyProject” | 11,320,000.00 | 11,320,000.00 | Assets-related | |||
| (16)Constructionof450000tonsilosand | 17,387,647.07 | 16,511.20 | 17,371,135.87 | Assets-related |
| 60000tonfilmsilos-CDEwarehouse.Gasstoragebin | ||||||
| (17)Specialfundforagriculturaldevelopmentof2016-agriculturalproductsafetytestingproject-capacitybuildingofthethirdpartyinspectioninstitutionexpansionevaluation | 328,000.00 | 328,000.00 | Assets-related | |||
| (18)Agriculturalproductsafetytestingprojectofthespecialfundforagriculturaldevelopmentof2016-Centralinvestmentfund | 684,000.00 | 684,000.00 | Assets-related | |||
| (19)ConstructionofO2Ocommunity | 1,750,835.16 | 19,288.02 | 1,731,547.14 | Assets-related |
| salesservicesystemforhighqualitygrainandoilbasedonB2CE-commerceplatform | |||||||
| (20)IndustrializationofDoximiE-commerceplatform | 1,961,094.13 | 418,834.32 | 1,542,259.81 | Assets-related | |||
| (21)Commercialcirculationdevelopmentprojectfundingforyearof2017 | 524,000.00 | 524,000.00 | Assets-related | ||||
| (22)Intelligentmanagementofgraindepotbasedonmobileinternet | 666,666.60 | 100,000.02 | 566,666.58 | Assets-related | |||
| (23)SpecialFundforGrainDepotUpgradeofShenzhenDevelopmentandReform | 5,000,000.00 | 5,000,000.00 | Assets-related |
| Commission | ||||||
| Total | 101,792,241.31 | 5,000,000.00 | 2,066,335.31 | 104,725,906.00 |
Otherexplanation:
52.Othernon-currentliabilities
InRMB
| Item | Endingbalance | Openingbalance |
Otherexplanation:
53.Sharecapital
InRMB
| Openingbalance | Increased(decreased)inthisperiod+,- | Endingbalance | |||||
| Newsharesissued | Bonusshares | Sharesconvertedfrompublicreserve | Other | Subtotal | |||
| Totalshares | 1,152,535,254.00 | 1,152,535,254.00 | |||||
Otherexplanation:
54.Otherequityinstrument
(1)Basicinformationoftheoutstandingpreferredstockandperpetualcapitalsecuritiesatperiod-end
(2)Changesofoutstandingpreferredstockandperpetualcapitalsecuritiesatperiod-end
InRMB
| Outstandingfinancialinstrument | Period-beginning | Currentincreased | Currentdecreased | Period-end | ||||
| Amount | Bookvalue | Amount | Bookvalue | Amount | Bookvalue | Amount | Bookvalue | |
Changesofotherequityinstrument,changereasonsandrelevantaccountingtreatmentbasis:
Otherexplanation:
55.Capitalpublicreserve
InRMB
| Item | Openingbalance | Currentincreased | Currentdecreased | Endingbalance |
| Capitalpremium(Sharecapitalpremium) | 1,413,996,347.50 | 1,413,996,347.50 | |
| Othercapitalreserve | 8,896,381.86 | 8,896,381.86 | |
| Total | 1,422,892,729.36 | 1,422,892,729.36 |
Otherinstructions,includingchangesinthecurrentperiod,reasonsforthechange:
56.Treasurystock
InRMB
| Item | Openingbalance | Currentincreased | Currentdecreased | Endingbalance |
Otherexplanation,includingchangesandreasonsforchanges:
57.Othercomprehensiveincome
InRMB
| Item | Openingbalance | CurrentPeriod | Endingbalance | |||||
| Accountbeforeincometaxintheperiod | Less:writteninothercomprehensiveincomeinpreviousperiodandcarriedforwardtogainsandlossesincurrentperiod | Less:writteninothercomprehensiveincomeinpreviousperiodandcarriedforwardtoretainedearningsincurrentperiod | Less:incometaxexpense | Belongtoparentcompanyaftertax | Belongtominorityshareholdersaftertax | |||
Otherexplanation,includingtheactivepartofthehedginggains/lossesofcashflowtransfertoinitialreorganizationadjustmentforthearbitrageditems:
58.Reasonablereserve
InRMB
| Item | Openingbalance | Currentincreased | Currentdecreased | Endingbalance |
| Productionsafetyfee | 522.55 | 574,618.41 | 575,140.96 | |
| Total | 522.55 | 574,618.41 | 575,140.96 |
Otherexplanation,includingchangesandreasonsforchanges:
59.Surpluspublicreserve
InRMB
| Item | Openingbalance | Currentincreased | Currentdecreased | Endingbalance |
| Statutorysurplusreserves | 350,187,601.06 | 350,187,601.06 | ||
| Total | 350,187,601.06 | 350,187,601.06 |
Otherexplanation,includingchangesandreasonsforchanges:
60.Retainedprofit
InRMB
| Item | Currentperiod | Lastperiod |
| Retainedprofitattheendofthepreviousyearbeforeadjustment | 1,495,135,080.60 | 1,269,933,487.26 |
| Totalretainedprofitatthebeginningofthepreviousyearbeforeadjustment | 1,495,135,080.60 | 1,269,933,487.26 |
| Add:netprofitattributabletoshareholderofparentcompany | 210,738,686.12 | 203,168,850.61 |
| Commonstockdividendspayable | 230,507,050.80 | 115,253,525.40 |
| Retainedprofitatperiod-end | 1,475,366,715.92 | 1,357,848,812.47 |
Detailsaboutadjustingtheretainedprofitsatthebeginningoftheperiod:
1)TheretroactiveadjustmentstoAccountingStandardsforBusinessEnterprisesanditsrelevantnewregulationsaffecttheretainedprofitsatthebeginningoftheperiodamountingto0Yuan.
2)Thechangesinaccountingpoliciesaffecttheretainedprofitsatthebeginningoftheperiodamountingto0Yuan.
3)Themajoraccountingerrorcorrectionaffectstheretainedprofitsatthebeginningoftheperiodamountingto0Yuan
4)Mergescopechangescausedbythesamecontrolaffecttheretainedprofitsatthebeginningoftheperiodamountingto0Yuan.
5)Otheradjustmentsaffecttheretainedprofitsatthebeginningoftheperiodamountingto0Yuan
61.Operatingincomeandoperatingcost
InRMB
| Item | Currentperiod | Lastperiod | ||
| Income | Cost | Income | Cost | |
| Mainbusiness | 4,738,760,181.96 | 4,218,999,878.26 | 4,778,550,071.95 | 4,258,702,014.11 |
| Otherbusiness | 1,668,040.14 | 403,950.54 | 3,617,660.74 | 3,399,756.51 |
| Total | 4,740,428,222.10 | 4,219,403,828.80 | 4,782,167,732.69 | 4,262,101,770.62 |
Informationrelatingtorevenue:
InRMB
| Category | Branch1 | Branch2 | Total | |
| Including: | ||||
| Including: | ||||
| Including: | ||||
| Including: | ||||
| Including: | ||||
| Including: | ||||
| Including: |
Informationrelatingtoperformanceobligations:
Informationrelatedtothetransactionpriceapportionedtotheremainingperformanceobligations:
Theamountofincomecorrespondingtotheperformanceobligationsthathavebeensignedattheendofthisreportingperiodbuthavenotyetbeenfulfilledorhavenotdonewithfulfillmentis0.00yuan,amongthem,yuanofrevenueisexpectedtoberecognizedinYEAR,yuanofrevenueisexpectedtoberecognizedinYEAR,andyuanofrevenueisexpectedtoberecognizedinYEAR.Otherexplanation
62.Taxandsurcharges
InRMB
| Item | Currentperiod | Lastperiod |
| Urbanmaintenanceandconstructiontax | 393,095.87 | 850,546.63 |
| Educationalsurtax | 293,482.34 | 647,628.82 |
| Housepropertytax | 2,332,175.04 | 3,902,342.55 |
| Usetaxofland | 871,580.42 | 856,035.80 |
| Stampduty | 385,415.59 | 339,910.55 |
| Other | 58,669.28 | 9,049.85 |
| Total | 4,334,418.54 | 6,605,514.20 |
Otherexplanation:
63.Salesexpenses
InRMB
| Item | Currentperiod | Lastperiod |
| Laborandsocialsecuritybenefits | 32,804,986.80 | 28,921,374.58 |
| Rental | 2,577,208.22 | 4,572,089.52 |
| Utilitiesandofficeexpenses | 2,350,318.50 | 2,983,459.64 |
| After-saleservices | 789,476.48 | 3,239,606.10 |
| Logisticstransportationfee | 28,612,496.12 | 34,511,447.40 |
| Travelexpenses | 779,656.28 | 1,356,310.96 |
| Equivalentlossforlowvalueperishablegoods | 935,717.93 | 1,481,592.76 |
| Depreciationandamortizationoflong-termassets | 6,518,839.48 | 5,855,616.32 |
| Businesshospitality | 527,170.78 | 485,263.49 |
| Advertisementcharge | 363,244.31 | 406,507.02 |
| Salescommission | 248,538.85 | 893.65 |
| Portterminalfee | 19,474,717.84 | 18,373,644.53 |
| Propertyinsurancepremium | 82,506.02 | 462,098.96 |
| Other | 8,531,801.39 | 7,434,460.44 |
| Handlingcharges | 4,882,744.12 | 2,469,377.37 |
| Automobileexpenses | 317,274.99 | |
| Total | 109,796,698.11 | 112,553,742.74 |
Otherexplanation:
64.Administrationexpenses
InRMB
| Item | Currentperiod | Lastperiod |
| Laborandsocialsecuritybenefits | 69,229,045.12 | 64,112,522.69 |
| Communicationfee | 520,417.29 | 698,972.98 |
| Vehicleusagefee | 546,606.17 | 678,600.30 |
| Low-valueconsumables | 179,389.99 | 141,751.26 |
| Repaircost | 693,712.09 | 264,513.27 |
| Depreciationandamortizationoflong-termassets | 13,292,796.12 | 11,830,728.97 |
| Travelexpenses | 552,462.94 | 1,286,620.67 |
| Businesshospitality | 1,164,075.59 | 1,227,426.99 |
| Officeexpenses | 3,701,673.55 | 7,666,398.75 |
| Rental | 1,468,092.89 | 750,998.75 |
| Intermediaryagencyfee | 2,140,781.77 | 3,750,693.95 |
| Other | 8,285,912.43 | 8,988,719.41 |
| Contractcompensation | 63,494.58 |
| Total | 101,838,460.53 | 101,397,947.99 |
Otherexplanation:
65.R&Dexpenses
InRMB
| Item | Currentperiod | Lastperiod |
| Laborandsocialsecuritybenefits | 4,299,743.55 | 2,786,779.24 |
| Depreciationcost | 1,678,787.85 | 619,854.40 |
| Officeexpenses | 146,085.41 | 280,219.64 |
| Travelexpenses | 82,848.06 | 180,071.96 |
| Logisticsconsumption | 80,752.32 | 199,042.35 |
| Intermediaryfees | 43,200.00 | |
| Maintenanceandinspectionfee | 11,870.89 | 35,889.40 |
| Other | 1,068,684.60 | 45,981.26 |
| Material | 20,436.66 | |
| Total | 7,368,772.68 | 4,211,474.91 |
Otherexplanation:
66.Financialexpenses
InRMB
| Item | Currentperiod | Lastperiod |
| Interestexpenses | 7,410,693.33 | 10,087,784.34 |
| Less:Interestincome | 1,735,133.50 | 2,185,171.96 |
| Exchangeloss | -54,764.94 | 303,008.96 |
| Bankchargesandothers | 534,417.72 | 314,110.51 |
| Total | 6,155,212.61 | 8,519,731.85 |
Otherexplanation:
67.Otherincome
InRMB
| Sources | CurrentPeriod | LastPeriod |
| Amortizationofdeferredincome(relatedtoassets) | 2,055,335.31 | 1,402,816.24 |
| Amortizationofdeferredincome(relatedtoincome) | 11,000.00 | 485,081.41 |
| R&Dsubsidyfor2018fromShenzhenScience&TechnologyInnovationCommittee | 216,000.00 | |
| ReceivedtheconstructionsubsidyfortoptalentsprojectofGuangdongProvincialGrain&MaterialReserveBureau | 30,000.00 | |
| Graintalentsprogramsubsidy | 20,269.70 | |
| Industrialdevelopmentguidingfund | 2,611,248.00 | |
| Receivedtheloandiscountforleadingagriculturalenterprises | 388,300.00 | |
| ServicechargesarerefundbyTaxationBureau | 126,043.99 | |
| ReceivedtheintermediaryfeesubsidyformergersandacquisitionoftheNanshanEconomicpromotionBureau | 738,700.00 | |
| Receivedtheemployeesocialinsurancesubsidy(1-9)ofWuyuanCountyFinanceBureaufor2018 | 470,078.93 | |
| Poststabilizationsubsidy | 34,080.37 | |
| Receivedthepatentawardfor2018fromShangraoIntellectualPropertyBureau | 50,000.00 | |
| Receivedtheguidingfundsforindustrialdevelopmentfor2018fromIndustryandInformationTechnologyBureau(FiscalAppropriation) | 170,697.00 | |
| Receivedthehigh-techenterpriseawardfor2018fromIndustryandInformationTechnologyBureau(FiscalAppropriation) | 200,000.00 | |
| ReceivedtheprovincialR&Dcenterfundfor2018fromIndustryandInformationTechnologyBureau(FiscalAppropriation) | 50,000.00 | |
| Amountofthenewprojectof50tonscleanmingouteaprocessingforfirsthalfof2019 | 62,500.00 | |
| Other | 4,112,896.49 | 1,053,389.33 |
| ShenzhenFutianDistrictEnterpriseDevelopmentServiceCenterretail | 2,000,000.00 |
| industrygrowthAward | ||
| Total | 10,824,560.17 | 5,463,876.60 |
68.Investmentincome
InRMB
| Item | Currentperiod | Lastperiod |
| Long-termequityinvestmentincomemeasuredbyequity | 366,989.43 | 3,413,100.95 |
| Investmentincomefromdisposaloflong-termequityinvestment | 2,337,075.95 | 127,368.82 |
| Incomefromfinancialproducts | 7,544,998.92 | 3,627,466.27 |
| Total | 10,249,064.30 | 7,167,936.04 |
Otherexplanation:
69.Netexposurehedgegains
InRMB
| Item | Currentperiod | Lastperiod |
Otherexplanation:
70.Incomeoffairvaluechanges
InRMB
| Sources | CurrentPeriod | LastPeriod |
| Tradablefinancialassets | -572,784.42 | 28,381.21 |
| Total | -572,784.42 | 28,381.21 |
Otherexplanation:
71.Creditimpairmentloss
InRMB
| Item | Currentperiod | Lastperiod |
| Lossofbaddebtofotheraccountreceivable | 638,878.91 | 5,143,559.77 |
| Lossofbaddebtofaccountreceivable | 1,153,087.44 | |
| Total | 1,791,966.35 | 5,143,559.77 |
Otherexplanation:
72.Assetsimpairmentloss
InRMB
| Item | Currentperiod | Lastperiod |
| I.Baddebtlosses | 2,063,558.29 | |
| II.Inventoriesfalllossandcontractperformancecostsimpairmentloss | -95,290,043.04 | -71,294,981.71 |
| Total | -95,290,043.04 | -69,231,423.42 |
Otherexplanation:
73.Incomefromassetsdisposal
InRMB
| Sources | CurrentPeriod | LastPeriod |
| Gainsorlossesfromfixedassetsdisposal | -10,598.38 | -4,184.59 |
74.Non-operatingincome
InRMB
| Item | Currentperiod | Lastperiod | Amountincludedinthecurrentnon-recurringprofitandloss |
| Governmentgrants | 10,030.08 | 3,000.00 | 10,030.08 |
| Incomefromliquidateddamages | 683,979.26 | 683,979.26 | |
| Performancecompensation | 337,500.00 | 337,500.00 | |
| Other | 327,290.24 | 359,252.46 | 327,290.24 |
| Total | 1,358,799.58 | 362,252.46 | 1,358,799.58 |
Governmentgrantsreckonedintocurrentgains/losses:
InRMB
| Grants | Issuingsubject | Issuingcause | Propertytype | Whethertheimpactofsubsidiesonthecurrentprofitandloss | Whetherspecialsubsidies | Amountofthisperiod | Amountoflastperiod | Assetsrelated/Incomerelated |
Otherexplanation:
75.Non-operatingexpenditure
InRMB
| Item | Currentperiod | Lastperiod | Amountincludedinthecurrentnon-recurringprofitandloss |
| Externaldonations | 5,151,098.92 | 2,000,000.00 | 5,151,098.92 |
| Abnormalloss | 1,962,312.38 | ||
| Inventoryloss | 4,693.69 | ||
| Lossofscrapfromnon-currentassets | 35,567.38 | 14,840.94 | 35,567.38 |
| Other | 172.94 | ||
| Total | 5,186,666.30 | 3,982,019.95 | 5,186,666.30 |
Otherexplanation:
76.Incometaxexpense
(1)Incometaxexpense
InRMB
| Item | Currentperiod | Lastperiod |
| Currentincometaxexpenses | 3,142,430.31 | 8,075,504.29 |
| Deferredincometaxexpenses | -677,161.68 | 7,409,789.74 |
| Total | 2,465,268.63 | 15,485,294.03 |
(2)Adjustmentprocessofaccountingprofitandincometaxexpenses
InRMB
| Item | CurrentPeriod |
| Totalprofit | 214,695,129.09 |
| Incometaxexpensescalculatedbystatutorytaxrate | 53,673,782.27 |
| Impactfromdifferenttaxrateapplywiththesubsidiary | -1,021,663.04 |
| Effectofadjustingincometaxinthepreviousperiod | -1,203,516.26 |
| Impactofnontaxableincome | -87,908,890.74 |
| Impactoncost,expensesandlossesthatunabletodeducted | 19,477,774.43 |
| Impactofthedeductiblelossondeferredincometaxassetsnotrecognizedinthepriorperiodofuse | -1,756,304.38 |
| Unrecognizedimpactsofdeductibletemporarydifferencesordeductiblelossesondeferredincometaxassetsintheperiod | 21,624,379.13 |
| ImpactonR&Dcostsdeduction | -420,292.78 |
| Incometaxexpenses | 2,465,268.63 |
Otherexplanation
77.Othercomprehensiveincome
Foundmoreinannotations
78.Annotationofcashflowstatement
(1)Cashreceivedwithotheroperatingactivitiesconcerned
InRMB
| Item | Currentperiod | Lastperiod |
| Intercoursefundsanddeposit | 425,055,874.21 | 180,418,202.50 |
| Governmentgrants | 13,758,224.86 | 4,448,353.51 |
| Interestincome | 1,893,194.14 | 2,185,171.96 |
| Total | 440,707,293.21 | 187,051,727.97 |
Noteofcashpaidwithotheroperatingactivitiesconcerned:
(2)Cashpaidwithotheroperatingactivitiesconcerned
InRMB
| Item | Currentperiod | Lastperiod |
| Intercoursefundsanddeposit | 342,216,823.96 | 153,621,034.86 |
| Operatingdailyexpenses | 103,213,558.91 | 102,412,945.42 |
| Total | 445,430,382.87 | 256,033,980.28 |
Noteofcashpaidwithotheroperatingactivitiesconcerned:
(3)Cashreceivedwithotherinvestmentactivitiesconcerned
InRMB
| Item | Currentperiod | Lastperiod |
| Performancecompensation | 337,500.00 | |
| Total | 337,500.00 |
Noteofcashreceivedwithotherinvestmentactivitiesconcerned:
(4)Cashpaidrelatedwithinvestmentactivities
InRMB
| Item | Currentperiod | Lastperiod |
| Othercostsofengineering | 994,317.84 | |
| Total | 994,317.84 |
Noteofcashpaidrelatedwithinvestmentactivities:
(5)Cashreceivedwithotherfinancingactivitiesconcerned
InRMB
| Item | Currentperiod | Lastperiod |
Noteofcashreceivedwithotherfinancingactivitiesconcerned:
(6)Othercashpaidrelatedwithfinancingactivities
InRMB
| Item | Currentperiod | Lastperiod |
| Handlingfeefordividenddistribution | 58,702.23 | 72,997.72 |
| Total | 58,702.23 | 72,997.72 |
Noteofothercashpaidrelatedwithfinancingactivities:
79.Supplementaryinformationtostatementofcashflow
(1)Supplementaryinformationtostatementofcashflow
InRMB
| Supplementaryinformation | Currentperiod | Lastperiod |
| 1.Netprofitadjustedtocashflowofoperationactivities: | -- | -- |
| Netprofit | 212,229,860.46 | 216,240,634.47 |
| Add:Impairmentprovisionforassets | 93,498,076.69 | 64,087,863.65 |
| Depreciationoffixedassets,consumptionofoilassetsanddepreciationofproductivebiologyassets | 36,594,574.62 | 25,585,678.98 |
| Amortizationofintangibleassets | 11,220,066.23 | 10,078,858.18 |
| Amortizationoflong-termpendingexpenses | 2,824,888.62 | 10,979,032.68 |
| Lossfromdisposaloffixedassets,intangibleassetsandotherlong-termassets(incomeislistedwith“-”) | 10,598.38 | 4,184.59 |
| Lossesonscrappingoffixedassets(incomeislistedwith“-“) | 35,567.38 | 14,840.94 |
| Lossfromchangeoffairvalue(incomeislistedwith“-“) | 572,784.42 | -28,381.21 |
| Financialexpenses(incomeislistedwith“-”) | 7,410,693.33 | 10,087,784.34 |
| Investmentloss(incomeislistedwith“-”) | -10,249,064.30 | -7,167,936.04 |
| Decreaseofdeferredincometaxassets(increaseislistedwith“-”) | -470,303.13 | 18,886.47 |
| Decreaseofdeferredincometaxasset((increaseislistedwith“-”) | -206,858.55 | 174,506.94 |
| Decreaseofinventory(increaseislistedwith“-”) | -382,924,860.42 | -235,691,486.95 |
| Decreaseofoperatingreceivableaccounts(increaseislistedwith“-”) | 129,417,912.00 | -118,497,256.23 |
| Increaseofoperatingpayableaccounts(decreaseislistedwith“-”) | -90,353,574.58 | -365,316,840.56 |
| Netcashflowarisingfromoperatingactivities | 9,610,361.15 | -389,429,629.75 |
| 2.Materialinvestmentandfinancingnotinvolvedincashflow | -- | -- |
| 3.Netchangeofcashandcashequivalents: | -- | -- |
| Balanceofcashatperiodend | 113,636,986.38 | 189,914,485.39 |
| Less:Balanceofcashatyear-begin | 154,954,757.85 | 631,638,339.68 |
| Netincreasingofcashandcashequivalents | -41,317,771.47 | -441,723,854.29 |
(2)NetcashpaidforobtainingsubsidiaryinthePeriod
InRMB
| Amount | |
| Including: | -- |
| Including: | -- |
| Including: | -- |
Otherexplanation:
(3)NetcashreceivedbydisposingsubsidiaryinthePeriod
InRMB
| Amount | |
| Including: | -- |
| Including: | -- |
| Including: | -- |
Otherexplanation:
(4)Constitutionofcashandcashequivalent
InRMB
| Item | Endingbalance | Openingbalance |
| I.Cash | 113,636,986.38 | 154,954,757.85 |
| Including:Cashonhand | 93,771.21 | 191,650.33 |
| Bankdepositavailableforpaymentatanytime | 113,457,423.97 | 154,658,586.69 |
| Othermonetaryfundavailableforpaymentatanytime | 85,791.20 | 104,520.83 |
| III.Balanceofcashandcashequivalentatperiod-end | 113,636,986.38 | 154,954,757.85 |
Otherexplanation:
80.Notesofchangesofowners’equity
Explainthenameandadjustedamountin“Other”atendoflastperiod:
81.Assetswithownershiporuserightrestricted
InRMB
| Item | Endingbookvalue | Reasonsforrestriction |
| Intangibleassets | 70,907,004.64 | 1.Accordingtotheloancontractof“GuangdongDG2017NGDZNo.006”signedbyDongguanFoodIndustrialPark,andBankofCommunicationsGuangdongBranch,DongguanFoodIndustryParkmortgageditstwopiecesoflands(DFGY(2009)DTNo.190)and(DFGY(2012)DTNo.152)toBankofCommunicationsGuangdongBranchascollateralfortheborrowing.2.Accordingtothelong-termloanmortgagecontractsignedbyDongguanLogisticsandDongguanBranchofAgriculturalDevelopmentBank,theCompanymortgagedtheland(Yue(2016)DongguanRealEstatePropertyNo.0028527)oflandslocatedinJingangSouthRoad,ZhangpengVillage,MachongTown,DongguanCitytoDongguanBranchofAgriculturalDevelopmentBankascollateralfortheloan. |
| Total | 70,907,004.64 | -- |
Otherexplanation:
82.Foreigncurrencymonetary
(1)Foreigncurrencymonetary
InRMB
| Item | Endingbalanceofforeigncurrency | Convertrate | EndingbalanceofRMBconverted |
| Monetaryfunds | -- | -- | 2,802,114.62 |
| Including:USD | 369,521.03 | 7.0795 | 2,616,024.13 |
| EURO | |||
| HKD | 203,724.92 | 0.9134 | 186,090.49 |
| Accountreceivable | -- | -- | 1,706,438.43 |
| Including:USD | 223,022.92 | 7.0795 | 1,578,890.76 |
| EURO |
| HKD | 139,640.54 | 0.9134 | 127,547.67 |
| Long-termloans | -- | -- |
| Including:USD | ||
| EURO | ||
| HKD |
Otherexplanation:
(2)Explanationonforeignoperationalentity,includingasforthemajorforeignoperationalentity,disclosedmainoperationplace,book-keepingcurrencyandbasisforselection;ifthebook-keepingcurrencychanged,explainreasons
□Applicable√Notapplicable
83.Hedging
Disclosedhedgingitemsandrelevanthedginginstrumentbasedonhedging’scategory,disclosedqualitativeandquantitativeinformationforthearbitragerisks:
84.Governmentgrants
(1)Governmentgrants
InRMB
| Category | Amount | Item | Amountreckonedintocurrentgains/losses |
| (1)Baseoffurtherprocessingforteaandnatureplants | 687,500.00 | Deferredincome | 137,500.00 |
| (2)EnterprisetechnologycenterisamunicipalR&Dcenter.Subsidiesforindustrialtechnologicaladvancement | 1,681,264.27 | Deferredincome | 102,012.30 |
| (3)Projectgrantsforyearsforagriculturaldistrict,XihuZone | 118,461.58 | Deferredincome | 64,615.38 |
| (4)Keytechnologyresearchanddevelopmentforthepreparationofhigh-qualityaromaextractsbasedontheuseofteaaromaprecursors | 129,323.34 | Deferredincome | 105,790.60 |
| (5)Keytechnologyresearchanddevelopmentforthepreparationofhigh-qualityaromaextractsbasedontheuseofteaaromaprecursors | 30,809.66 | Deferredincome | 11,000.00 |
| (6)Industrializationofinstantteapowder | 1,789,467.85 | Deferredincome | 98,222.94 |
| (7)Grantforkeytechnologyresearchandindustrializationofinstantteapowder | 131,643.68 | Deferredincome | 7,122.51 |
| (8)SpecialfundforthedevelopmentofstrategicemergingindustriesinShenzhen(plantdeepprocessingengineering)(ShenDevelopment&ReformNo.20131601) | 3,012,079.33 | Deferredincome | 175,604.54 |
| (9)Constructionamountfor50tonsforclearlyprocessingforMingyoutea | 312,499.96 | Deferredincome | 62,500.02 |
| (10)SubsidyforteaseedingofNewTeaGardeninWangkou | 44,466.04 | Deferredincome | 554.64 |
| (11)Subsidyforsupplysystemconstructionofagriculturalproducts | 450,000.00 | Deferredincome | 100,000.00 |
| (12)GrainstorageprojectofDongguanShenliangLogisticsCo.,Ltd.-StorageA | 7,849,032.15 | Deferredincome | 131,128.56 |
| (13)PhaseIIofgrainstorageprojectofDongguanShenliangLogisticsCo.,Ltd.-StorageB | 31,421,748.74 | Deferredincome | 515,650.26 |
| (14)Grain,oilandfoodheadquartersandinnovativepublicserviceplatformofDongguanShenliangLogisticsCo.,Ltd. | 18,000,000.00 | Deferredincome | |
| (15)Specialfundsforintelligentupgradingandtransformationofgrainwarehouseforthe2017“GrainSafetyProject” | 11,320,000.00 | Deferredincome |
| (16)Constructionof450000tonsilosand60000tonfilmsilos-CDEwarehouse.Gasstoragebin | 17,371,135.87 | Deferredincome | 16,511.20 |
| (17)Specialfundforagriculturaldevelopmentof2016-agriculturalproductsafetytestingproject-capacitybuildingofthethirdpartyinspectioninstitutionexpansionevaluation | 328,000.00 | Deferredincome | |
| (18)Agriculturalproductsafetytestingprojectofthespecialfundforagriculturaldevelopmentof2016-Centralinvestmentfund | 684,000.00 | Deferredincome | |
| (19)ConstructionofO2OcommunitysalesservicesystemforhighqualitygrainandoilbasedonB2CE-commerceplatform | 1,731,547.14 | Deferredincome | 19,288.02 |
| (20)IndustrializationofDoximiE-commerceplatform | 1,542,259.81 | Deferredincome | 418,834.32 |
| (21)Commercialcirculationdevelopmentprojectfundingforyearof2017 | 524,000.00 | Deferredincome | |
| (22)Intelligentmanagementofgraindepotbasedonmobileinternet | 566,666.58 | Deferredincome | 100,000.02 |
| (23)SpecialFundforGrainDepotUpgradeofShenzhenDevelopmentandReformCommission | 5,000,000.00 | Deferredincome | |
| (23)Industrialdevelopmentguidingfund | 2,611,248.00 | Otherincome | 2,611,248.00 |
| (24)Poststabilizationsubsidy | 34,080.37 | Otherincome | 34,080.37 |
| (25)ShenzhenFutianDistrictEnterpriseDevelopmentServiceCenterretailindustrygrowthAward | 2,000,000.00 | Otherincome | 2,000,000.00 |
| (26)Othergovernmentsubsidiesrelatedtodailybusinessactivities | 4,112,896.49 | Otherincome | 4,112,896.49 |
| (27)Othergovernmentsubsidiesrelatedtodailybusinessactivities | 10,030.08 | Non-operatingincome | 10,030.08 |
| Total | 113,494,160.94 | 10,834,590.25 |
(2)Governmentgrantsrebate
□Applicable√NotapplicableOtherexplanation:
85.Other
VIII.Changesofconsolidationrange
1.Enterprisemergernotunderthesamecontrol
(1)Enterprisemergernotunderthesamecontrol
InRMB
| Acquiree | Timepointforequityobtained | Costofequityobtained | Ratioofequityobtained | AcquiredwayEquityobtainedway | Purchasingdate | Standardtodeterminethepurchasingdate | Incomeofacquireefrompurchasingdatetoperiod-end | Netprofitofacquireefrompurchasingdatetoperiod-end |
Otherexplanation:
(2)Combinationcostandgoodwill
InRMB
Determinationmethodforfairvalueofthecombinationcostandcontingentconsiderationandchanges:
Mainreasonsforlargegoodwillresulted:
Otherexplanation:
(3)Identifiableassetsandliabilityonpurchasingdateundertheacquiree
InRMB
| Fairvalueonpurchasingdate | Bookvalueonpurchasingdate |
Determinationmethodforfairvalueoftheidentifiableassetsandliabilities:
Contingentliabilityoftheacquireebearduringcombination:
Otherexplanation:
(4)Gainsorlossesarisingfromre-measuredbyfairvaluefortheequityheldbeforepurchasingdateWhetheritisabusinesscombinationrealizedbytwoormoretransactionsofexchangeandatransactionofobtainedcontrolrightsinthePeriodornot
□Yes√No
(5)Onpurchasingdateorperiod-endofthecombination,combinationconsiderationorfairvalueofidentifiableassetsandliabilityfortheacquireeareun-abletoconfirmrationally
(6)Otherexplanation
2.Enterprisecombinedunderthesamecontrol
(1)EnterprisecombinedunderthesamecontrolinthePeriod
InRMB
| Acquiree | Equityratioobtainedincombination | Basisofcombinedunderthesamecontrol | Combinationdate | Standardtodeterminethecombinationdate | Incomeofthecombinedpartyfromperiod-beginofcombinationtothecombinationdate | Netprofitofthecombinedpartyfromperiod-beginofcombinationtothecombinationdate | Incomeofthecombinedpartyduringthecomparisonperiod | Netprofitofthecombinedpartyduringthecomparisonperiod |
Otherexplanation:
(2)Combinationcost
InRMB
Explanationoncontingentconsiderationanditschanges:
Otherexplanation:
(3)Bookvalueoftheassetsandliabilityofthecombinedpartyoncombinationdate
InRMB
| Onpurchasingdate | Atendoflastperiod |
Contingentliabilityofthecombinedpartybearduringcombination:
Otherexplanation:
3.ReversepurchaseBasictransactioninformation,basisofcounterpurchase,whethermakingupbusinessduetotheassetsandliabilityreservedbylistedcompanyandbasis,determinationofcombinationcost,amountandcalculationonadjustedequitybyequitytransaction:
4.DisposalSubsidiaryWhetherthereisasubsidiarydisposalononetime,whichislosscontrolofrights
□Yes√NoWhetherthereisasubsidiarydisposalbystepsthroughmultipletradingandlosscontrolofrightsintheperiod
□Yes√No
5.Otherreasonsforconsolidationrangechanged
Consolidationscopechangescausedbyotherreasons(eg,newlyestablishsubsidiaries,liquidatesubsidiaries,etc.)andtherelatedcircumstances:
6.OtherIX.Equityinotherentity
1.Equityinsubsidiary
(1)Constituteofenterprisegroup
| Subsidiary | Mainoperationplace | Registeredplace | Businessnature | Share-holdingratio | Acquiredway | |
| Directly | Indirectly | |||||
| ShenbaoHuacheng | Shenzhen | Shenzhen | Manufacturing | 100.00% | Establishment | |
| WuyuanJuFangYong | Shangrao | Shangrao | Manufacturing | 100.00% | Establishment | |
| ShenbaoSanjing | Huizhou | Shenzhen | Manufacturing | 100.00% | Establishment | |
| HuizhouShenbaoTechnology | Huizhou | Huizhou | Comprehensive | 100.00% | Establishment | |
| ShenbaoProperty | Shenzhen | Shenzhen | Propertymanagement | 100.00% | Establishment | |
| ShenbaoIndustrial&Trading | Huizhou | Shenzhen | Wholesalebusiness | 100.00% | Establishment | |
| JuFangYongHolding | Hangzhou | Hangzhou | Comprehensive | 100.00% | Establishment | |
| ShenbaoTechnologyCenter | Shenzhen | Shenzhen | Development,consultantandtransferoftechnology | 100.00% | Establishment | |
| FuhaitangEcological | Hangzhou | Hangzhou | Teaplanting,productionandsales | 100.00% | Acquisition | |
| ShenshenbaoInvestment | Shenzhen | Shenzhen | Investmentmanagement | 100.00% | Establishment | |
| ShenshenbaoTeaCulture | Shenzhen | Shenzhen | Commerce | 100.00% | Establishment | |
| JuFangYongTrading | Hangzhou | Hangzhou | Wholesalebusiness | 60.00% | Establishment | |
| Pu'erTeaSupplyChain | Pu’er | Pu’er | Wholesalebusiness | 100.00% | Establishment | |
| HuizhouShenbaoFood | Huizhou | Huizhou | Wholesalebusiness | 100.00% | Establishment | |
| ShenbaoRockTea | Wuyishan | Wuyishan | Manufacturing | 100.00% | Establishment | |
| Pu’erTeaTradingCenter | Pu’er | Pu’er | Serviceindustry | 55.00% | Establishment | |
| ShenbaoTea-Shop | Shenzhen | Shenzhen | Commerce | 100.00% | Establishment | |
| FuhaitangCatering | Hangzhou | Hangzhou | Catering | 100.00% | Establishment | |
| SZCG | Shenzhen | Shenzhen | Grain&oiltrading | 100.00% | Combineunderthesamecontrol | |
| ShenzhenFlour | Shenzhen | Shenzhen | Flourprocessing | 100.00% | Combineunderthesamecontrol | |
| Hualian | Shenzhen | Shenzhen | Grain&oil | 100.00% | Combineunder |
| Company | trading | thesamecontrol | ||||
| HainanHaitian | Haikou | Haikou | Feedproduction | 100.00% | Combineunderthesamecontrol | |
| ShenliangQualityInspection | Shenzhen | Shenzhen | Inspection | 100.00% | Combineunderthesamecontrol | |
| Doximi | Shenzhen | Shenzhen | E-commerce | 100.00% | Combineunderthesamecontrol | |
| ShenliangColdChain | Shenzhen | Shenzhen | Freshfoodmanagementon-line | 100.00% | Combineunderthesamecontrol | |
| BeigeKitchen | Shenzhen | Shenzhen | Salesandprocessingofgrain,oilandproducts | 70.00% | Combineunderthesamecontrol | |
| ShenliangProperty | Shenzhen | Shenzhen | Realestatedevelopmentandpropertymanagement | 100.00% | Combineunderthesamecontrol | |
| ShenliangProperty | Shenzhen | Shenzhen | Propertymanagement | 100.00% | Combineunderthesamecontrol | |
| ShenliangStorage(Yingkou) | Yingkou | Yingkou | Storage | 100.00% | Combineunderthesamecontrol | |
| DongguanLogistics | Dongguan | Dongguan | Storage,logistics | 51.00% | Combineunderthesamecontrol | |
| DongguanFoodIndustrialPark | Dongguan | Dongguan | Portoperation,foodproduction | 51.00% | Combineunderthesamecontrol | |
| DongguanFoodIndustryandTrade | Dongguan | Dongguan | Foodproduction | 51.00% | Combineunderthesamecontrol | |
| DongguanJinying | Dongguan | Dongguan | Feed,biofertilizer | 51.00% | Combineunderthesamecontrol |
| ShuangyashanShenliangZhongxin | Shuangyashan | Shuangyashan | Constructionoffoodbaseanddevelopmentofrelatedcomplementaryfacility | 51.00% | Combineunderthesamecontrol | |
| HongxinglongNongkenIndustrialPark | Shuangyashan | Shuangyashan | Constructionoffoodbaseanddevelopmentofrelatedcomplementaryfacility | 51.00% | Combineunderthesamecontrol |
Explanationonshare-holdingratioinsubsidiarydifferentfromratioofvotingright:
Basisforcontrollingtheinvestedentitywithhalforbelowvotingrightsheldandwithoutcontrollinginvestedentitybutwithoverhalfandovervotingrights:
Majorstructuredentityincludedinconsolidatesstatement:
Basisofterminationofagentorconsignor:
Otherexplanation:
(2)Importantnon-wholly-ownedsubsidiary
InRMB
| Subsidiary | Share-holdingratioofminority | Gains/lossesattributabletominorityinthePeriod | DividendannouncedtodistributeforminorityinthePeriod | Endingequityofminority |
| DongguanLogistics | 49.00% | 1,143,890.72 | 162,491,200.57 |
Explanationonholdingratiodifferentfromthevotingrightratioforminorityshareholders:
Otherexplanation:
(3)Mainfinanceoftheimportantnon-wholly-ownedsubsidiary
InRMB
| Subsidiary | Endingbalance | Openingbalance | ||||||||||
| Currentassets | Non-currentassets | Totalassets | Currentliabilities | Non-currentliabilities | Totalliabilities | Currentassets | Non-currentassets | Totalassets | Currentliabilities | Non-currentliabilities | Totalliabilities | |
| DongguanLogistics | 216,674,721.83 | 1,578,566,224.93 | 1,795,240,946.76 | 210,501,395.32 | 953,124,856.41 | 1,163,626,251.73 | 179,203,637.28 | 1,469,042,115.86 | 1,648,245,753.14 | 208,523,832.06 | 930,441,696.91 | 1,138,965,528.97 |
InRMB
| Subsidiary | CurrentPeriod | LastPeriod |
| Operatingincome | Netprofit | Totalcomprehensiveincome | Cashflowfromoperationactivity | Operatingincome | Netprofit | Totalcomprehensiveincome | Cashflowfromoperationactivity | |
| DongguanLogistics | 881,895,886.45 | 7,709,470.86 | 7,709,470.86 | -39,152,386.65 | 1,222,449,755.98 | 11,109,676.56 | 11,109,676.56 | 97,553,848.28 |
Otherexplanation:
(4)Significantrestrictionsontheuseofenterprisegroupassetsandpayoffdebtsoftheenterprisegroup
(5)FinancialorothersupportingofferstothestructuredentityincludedinconsolidatedfinancialstatementrangeOtherexplanation:
2.Transactionthathasownersequityshareschangedinsubsidiarybutstillwithcontrollingrights
(1)Ownersequityshareschangedinsubsidiary
(2)Impactonminority’sinterestandowners’equityattributabletoparentcompany
InRMBOtherexplanation
3.Equityinjointventureandassociatedenterprise
(1)Importantjointventureorassociatedenterprise
| JointventureorAssociatedenterprise | Mainoperationplace | Registeredplace | Businessnature | Share-holdingratio | Accountingtreatmentoninvestmentforjointventureandassociatedenterprise | |
| Directly | Indirectly | |||||
| ZhuhaiHengxingFeedIndustrialCo.,Ltd. | Zhuhai | Zhuhai | Aquaticfeeandanimalfee | 40.00% | Equity | |
| ShenliangIntelligentWulianEquityInvestmentFund(Shenzhen)PartnershipEnterprise(Limited) | Shenzhen | Shenzhen | Equityinvestment;investmentconsultant | 49.02% | Equity |
Holdingsharesratiodifferentfromthevotingrightratio:
Hasmajorinfluencewithless20%votingrightshold,orhasminorinfluencewithover20%(20%included)votingrightshold:
(2)Mainfinancialinformationoftheimportantjointventure
InRMB
| Endingbalance/CurrentPeriod | Openingbalance/LastPeriod |
Otherexplanation
(3)Mainfinancialinformationoftheimportantassociatedenterprise
InRMB
| Endingbalance/CurrentPeriod | Openingbalance/LastPeriod | |||
| ZhuhaiHengxingFeedIndustrialCo.,Ltd. | ShenliangIntelligentWulianEquityInvestmentFund(Shenzhen)PartnershipEnterprise(Limited) | ZhuhaiHengxingFeedIndustrialCo.,Ltd. | ShenliangIntelligentWulianEquityInvestmentFund(Shenzhen)PartnershipEnterprise(Limited) | |
| Currentassets | 190,276,412.01 | 20,811,417.28 | 74,426,214.45 | 21,145,350.77 |
| Noncurrentassets | 30,996,058.91 | 31,741,080.47 | 31,819,375.02 | 31,759,785.55 |
| TotalAssets | 221,272,470.92 | 52,552,497.75 | 106,245,589.47 | 52,905,136.32 |
| Currentliabilities | 141,617,315.43 | 26,931,271.22 | ||
| Noncurrentliabilities | 583,332.69 | 629,319.69 | ||
| Totalliabilities | 142,200,648.12 | 27,560,590.91 | ||
| Shareholders'equityattributabletotheparentcompany | 79,071,822.80 | 52,552,497.75 | 78,684,998.56 | 52,905,136.32 |
| Shareofnetassetscalculatedbyshareholdingratio | 31,628,729.12 | 25,761,234.39 | 31,473,999.42 | 25,934,097.82 |
| Adjustmentitems | 229,181.18 | -174.47 | 162,707.80 | -174.47 |
| --Others | 229,181.18 | -174.47 | 162,707.80 | -174.47 |
| Bookvalueofequityinvestmentinassociatedenterprises | 31,857,910.30 | 25,761,059.92 | 31,636,707.22 | 25,933,923.35 |
| Businessincome | 259,095,047.79 | 214,083,220.07 | ||
| Netprofit | 3,337,583.11 | -352,638.57 | 1,644,897.90 | -853,119.60 |
| Totalcomprehensiveincome | 3,337,583.11 | -352,638.57 | 1,644,897.90 | -853,119.60 |
Otherexplanation
(4)Financialsummaryfornon-importantJointventureandassociatedenterprise
InRMB
| Endingbalance/CurrentPeriod | Openingbalance/LastPeriod | |
| Jointventure: | -- | -- |
| Amountbasedonshare-holdingratio | -- | -- |
| Associatedenterprise: | -- | -- |
| Totalbookvalueofinvestment | 13,946,407.26 | 15,790,681.53 |
| Amountbasedonshare-holdingratio | -- | -- |
| --Netprofit | 415,495.06 | 6,304,978.23 |
| --Totalcomprehensiveincome | 415,495.06 | 6,304,978.23 |
Otherexplanation
(5)MajorlimitationoncapitaltransferabilitytotheCompanyfromjointventureorassociatedenterprise
(6)Excesslossoccurredinjointventureorassociatedenterprise
InRMB
| Jointventure/Associatedenterprise | Cumulativeun-recognizedlosses | Un-recognizedlossesnotrecognizedinthePeriod(ornetprofitenjoyedinthePeriod) | Cumulativeun-recognizedlossesatperiod-end |
| ChangzhouShenbaoChacangE-businessCo.,ltd. | 8,650,425.68 | 14,913.33 | 8,665,339.01 |
| ShenzhenShichumingmenRestaurantManagementCo.,Ltd. | 3,815,595.01 | 541,250.52 | 4,356,845.53 |
Otherexplanation
(7)Unconfirmedcommitmentwithjointventureinvestmentconcerned
(8)Intangibleliabilitywithjointventureoraffiliatesinvestmentconcerned
4.Majorconductjointoperation
| Name | Mainplaceofoperation | Registrationplace | Businessnature | Shareholdingratio/sharesenjoyed | |
| Directly | In-directly | ||||
Share-holdingratioorsharesenjoyeddifferentfromvotingrightratio:
Iftheco-runsentityistheseparateentity,basisoftheco-runsclassification:
Otherexplanation
5.Structuredbodyexcludinginconsolidatefinancialstatement
Explanationofstructuredbodyexcludinginconsolidatefinancialstatement:
6.Other
X.Disclosureofrisksrelatingtofinancialinstruments
OurbusinessoperationmakestheCompanyexposedtovariousfinancialrisks:creditrisk,liquidityriskandmarketrisk(mainlyreferstoexchangeriskandinterestrisk).ThegeneralriskmanagementpolicyoftheCompanyistominimizepotentialnegativeeffectsonourfinancialperformanceinviewoftheunforeseeablefinancialmarket.
1.CreditriskCreditriskreferstotheriskofafinanciallosscausedbythecounterparty’sfailuretofulfillitscontractualobligations.Thecreditriskmainlyarisesfrommonetaryfunds,accountreceivableandotheraccountreceivablesoon.Themanagementhasestablishedadequatecreditpoliciesandcontinuestomonitorexposureofthesecreditrisks.ThemonetaryfundsheldbytheCompanyaremainlydepositedinstate-controlledbanksandotherlargeandmedium-sizedcommercialbanksandotherfinancialinstitutions.Themanagementbelievesthatthesecommercialbankshavehighreputationandassetstatusandhavenomajorcreditrisk,andwon'tcreateanymajorlossescausedbythebreachofcontractoftheoppositeside.Fortradereceivablesandotherreceivables,theCompanyestablishesrelevantpoliciestocontrolexposureofcreditrisk.TheCompanyappraisescustomers’creditqualitybasedontheirfinancialposition,possibilitytoobtainguaranteefromthirdparties,credithistoryandotherfactorssuchasprevailingmarketconditions,andsetcorrespondingcreditterms.Customers’credithistorywouldberegularlymonitoredbytheCompany.Forthosecustomerswhohavebadcredithistory,theCompanywillcallcollectioninwrittenform,shortencredittermorcancelcredittermtoensureitsoverallcreditriskisundercontrol.
Themaximumcreditriskexposureequalstothecarryingvalueofeachfinancialassetinbalancesheet(includingderivativefinancialinstrument).TheCompanyhasnotprovidedanyguaranteewhichwouldotherwisemaketheCompanyexposedtocreditriskexceptfortheguaranteeforfinancialcarriedinNoteXI.
2.LiquidityriskLiquidityriskrepresentsthepossibilitythattheCompanyisnotabletoacquiresufficientfundtosatisfybusinessrequirement,settledebtwhenitisdueandperformotherobligationofpayment.Thefinancedepartmentcontinuestomonitorcapitalrequirementforshortandlongterm,toensureadequatecashreserve.Inaddition,itcontinuestomonitorwhetherborrowingagreementiscompliedwith,andseeksforcommitmentfrommajorfinancialinstitutionsforprovisionofsufficientback-upfund,soastosatisfycapitalrequirementinashortandlongterm.
3.Marketrisk
(1)ExchangeriskThemajoroperationoftheCompanyislocatedinthePRC,anditsmajoroperationissettledinRenminbi.However,thereisalsoexchangeriskinrespectoftherecognizedforeigncurrencyassetsandliabilitiesandfutureforeigncurrencytransactionswhicharemainlydenominatedinUSdollar.Ourfinancedepartmentisresponsibleformonitoringscaleofforeigncurrencyassetsandliabilitiesandforeigncurrencytransactions,tominimizeitsexposuretoexchangerisks.Inreportingperiod,theCompanydidnotsignforwardexchangecontractormonetaryexchangecontract.TheforeignexchangeriskfacedbythecompanymainlycomesfromfinancialassetsandfinancialliabilitiesdenominatedinUSdollars.TheamountofforeigncurrencyfinancialassetsandforeigncurrencyfinancialliabilitiesconvertedintoRMBisdetailedinVII.ConsolidatedFinancialStatementItemNote82ForeignCurrencyMonetary
(2)InterestriskOurinterestriskmainlyarisesfrombankborrowings.FinancialliabilitiesatfloatingrateexposetheCompanytocashflowinterestrisk,andfinancialliabilitiesatfixedrateexposetheCompanytofairvalueinterestrisk.TheCompanydeterminestherespectiveproportionofcontractsatfixedrateandfloatingratebasedonprevailingmarketconditions.ThefinancialdepartmentoftheCompanycontinuouslymonitorstheinterestrateoftheCompany.Theriseininterestrateswillincreasethecostofnewinterest-bearingdebtsandtheinterestexpenseoftheCompany’sunpaidinterest-bearingdebtswithfloatinginterestrates,managementwillmaketimelyadjustmentsbasedonthelatestmarketconditions.
(3)PriceriskTheCompanypurchasesandsellsproductsatmarketprices,thereforeitisaffectedbyfluctuationoftheseprices.
XI.Disclosureoffairvalue
1.Endingfairvalueoftheassetsandliabilitiesmeasuredbyfairvalue
InRMB
| Item | Endingfairvalue | |||
| First-order | Second-order | Third-order | Total | |
| I.Sustainingmeasuredbyfairvalue | -- | -- | -- | -- |
| 1.Financialassetsmeasuredbyfairvalueandwithvariationreckonedintocurrentgains/losses | 593,425.30 | 593,425.30 | ||
| (2)Equityinstrumentinvestment | 593,425.30 | 593,425.30 | ||
| Othernoncurrentfinancialassets | 57,500.00 | 57,500.00 | ||
| II.Non-persistentmeasure | -- | -- | -- | -- |
2.Recognizedbasisforthemarketpricesustainingandnon-persistentmeasuredbyfairvalueonfirst-orderThefinancialassetsmeasuredatfairvalueandwhosechangesareincludedinthecurrentprofitandlossarecompanystockslistedontheShenzhenStockExchangeheldbytheCompany,andtheclosingpriceonJune30isusedasthefairvalueoftheequityinstrumentinvestment.
3.Valuationtechniqueandqualitativeandquantitativeinformationonmajorparametersforthefairvaluemeasuresustainingandnon-persistentonsecond-order
4.Valuationtechniqueandqualitativeandquantitativeinformationonmajorparametersforthefairvaluemeasuresustainingandnon-persistentonthird-order
5.Adjustmentinformationandsensitivityanalysisofunobservableparametersforthefairvaluemeasuresustainingandnon-persistentonthird-order
6.Sustainingitemsmeasuredbyfairvalue,asfortheconversionbetweenatalllevels,reasonsforconversionandpolicyforconversiontimepoint
7.ChangesofvaluationtechniqueinthePeriod
8.Financialassetsandliabilitynotmeasuredbyfairvalue
9.Other
Forothernon-currentfinancialassetsheld,sincethebusinessenvironment,operatingconditions,andfinancialstatusoftheinvestedcompanyhavenotundergonemajorchanges,thecompanyshallusetheinvestmentcostasareasonableestimateofthefairvalueformeasurement.XII.Relatedpartyandrelatedtransactions
1.Parentcompany
| Parentcompany | Registrationplace | Businessnature | Registeredcapital | RatioofshareholdingontheCompany | RatioofvotingrightontheCompany |
| ShenzhenFoodMaterialsGroupCo.,Ltd | Shenzhen | Investinginindustry,development,operationandmanagementoftheownproperty | 500millionYuan | 63.79% | 63.79% |
ExplanationonparentcompanyoftheenterpriseUltimatecontrolleroftheCompanyisShenzhenMunicipalPeople’sGovernmentState-OwnedAssetsSupervisionandAdministrationCommission.Otherexplanation:
2.SubsidiarySubsidiaryoftheCompanyfoundmoreinNote"1.Equityinsubsidiaries"ofNoteIX-Equityinotherentity
3.JointventureandassociatedenterpriseJointVentureoftheCompanyfoundmoreinNote"3.Equityinjointarrangementorjointventure"ofNoteIX-EquityinotherentityOthercooperativeenterpriseandjointventurethathaverelatedtransactionwiththeCompanyinthePeriodoroccurredinpreviousperiod:
| Jointventure/Associatedenterprise | Relationship |
| ShenzhenShichumingmenCateringManagementCo.,Ltd. | Jointventureofthecompany |
| SHENZHENSYDATATECHNOLOGYCO.,LTD | Jointventureofthecompany |
Otherexplanation
4.Otherrelatedparty
| Otherrelatedparty | RelationshipwiththeEnterprise |
| ShenzhenAgriculturalProductsCo.,Ltd | ShareholderoftheCompany,subsidiaryoftheactualcontroller,controlledbythesameultimatecontrollingparty |
| ZhanjiangHaitianAquaticFeedCo.,Ltd | Subsidiaryoftheactualcontroller,Controlledbythesameultimatecontrollingparty |
| DongguanFruitandVegetableNon-stapleFoodMarketCo.,Ltd | Minorityshareholderofcontrollingsubsidiary |
| TaizhongAgriculturalCo.,Ltd | Subsidiaryoftheactualcontroller,Controlledbythesameultimatecontrollingparty |
| ShenzhenInvestmentHoldingCo.,Ltd | FormershareholderoftheCompany,Controlledbythesameultimatecontrollingparty |
| ShenzhenInvestmentManagementCo.,Ltd | FormershareholderoftheCompany,Controlledbythesameultimatecontrollingparty |
| FujianWuyishanYuxingTeaCo.,Ltd. | Minorityshareholderofformercontrollingsubsidiary |
| ShenzhenFruitsandVegetablesTradingCo.,Ltd. | Wholly-ownedsubsidiaryofShenzhenAgriculturalProductsCo.,Ltd |
| ShenzhenHigreenInternationalAgriculturalProductsLogisticManagementCo.,Ltd | ControllingsubsidiaryofShenzhenAgriculturalProductsCo.,Ltd |
| ZhanjiangChangshan(Shenzhen)EcologicalAquacultureCo.,Ltd | Hasthesameparentcompany |
| ShenzhenShenliangColdTransportCo.,Ltd. | Holdingsubsidiaryofthecompany'sassociatedenterprise |
| ShenzhenYixinInvestmentCo.,Ltd | FormershareholderofShenzhenAgriculturalProductsCo.,Ltd,Controlledbythesameultimatecontrollingparty |
Otherexplanation
5.Relatedtransaction
(1)Goodspurchasing,laborserviceprovidingandreceiving
Goodspurchasing/laborservicereceiving
InRMB
| Relatedparty | Relatedtransactioncontent | CurrentPeriod | Approvedtransactionlimit | Whethermorethanthetransactionlimit(Y/N) | LastPeriod |
| SHENZHENSYDATATECHNOLOGYCO.,LTD | Informationsoftwaredevelopment | 5,290,531.23 | |||
| ShenzhenShenliangColdTransportCo.,Ltd. | WarehousingServices | 178,503.88 |
Goodssold/laborserviceproviding
InRMB
| Relatedparty | Relatedtransactioncontent | CurrentPeriod | LastPeriod |
| ShenzhenFoodMaterialsGroupCo.,Ltd | Payment | 2,510.00 | |
| SHENZHENSYDATATECHNOLOGYCO.,LTD | Officespacelease | 15,358.00 | |
| ShenzhenAgriculturalProductsGroupCo.,Ltd | Salesoftea | 219,560.00 | |
| ShenzhenAgriculturalProductsGroupCo.,Ltd | Grainandoil | 52,800.00 | |
| ShenzhenHigreenInternationalAgriculturalProductsLogisticManagementCo.,Ltd | Salesoftea | 7,410.00 | |
| ShenzhenFruitsandVegetablesTradingCo.,Ltd. | Salesoftea | 3,270.00 |
Explanationongoodspurchasing,laborserviceprovidingandreceiving
(2)Relatedtrusteeshipmanagement/contract&entrustmanagement/outsourcing
Trusteeshipmanagement/contract:
InRMB
| Client/Contract-outparty | Entrustingparty/Contractor | Trustee/assetscontract | Trustee/start | Trustee/ends | Managedearnings/pricingofthecontractearnings | Managedearningsconfirmedintheperiod/contractearnings |
Relatedmanaged/contract:
Entrustedmanagement/outsourcing:
InRMB
| Client/Contract-outparty | Entrustingparty/Contractor | Trustee/assetscontract | Trustee/start | Trustee/ends | Managedearnings/pricingofthecontractearnings | Managedearningsconfirmedintheperiod/contractearnings |
Relatedmanagement/outsourcing:
(3)Relatedlease
AsalessorfortheCompany:
InRMB
| Lessee | Assetstype | LeaseincomeinrecognizedinthePeriod | LeaseincomeinrecognizedlastthePeriod |
| Shichumingmen | Operatingsite | 580,466.28 | 580,466.28 |
| ShenzhenFoodMaterialsGroupCo.,Ltd | Officespacelease | 84,300.00 |
Aslessee:
InRMB
| Lessor | Assetstype | LeaseincomeinrecognizedinthePeriod | LeaseincomeinrecognizedlastthePeriod |
| ShenzhenFoodMaterialsGroupCo.,Ltd | Warehouseleasing | 14,217,100.02 | 14,217,100.00 |
| ShenzhenFoodMaterialsGroupCo.,Ltd | Officespace | 268,542.85 | 345,038.85 |
Explanationonrelatedlease
(4)Relatedguarantee
Asguarantor
InRMB
| Securedparty | Guaranteeamount | Guaranteestartdate | Guaranteeexpirydate | Whethertheguaranteehasbeenfulfilled |
| ChangzhouShenbaoChacangE-businessCo.,Ltd.*1 | 5,000,000.00 | 2011-12-20 | N |
Assecuredparty
InRMB
| Guarantor | Guaranteeamount | Guaranteestartdate | Guaranteeexpirydate | Whethertheguaranteehasbeenfulfilled |
| DongguanFruitVegetableNon-stapleFoodTradingMarketCo.,Ltd. | 44,227,477.40 | 2016-12-27 | 2021-12-26 | No |
| DongguanFruitVegetableNon-stapleFoodTradingMarketCo.,Ltd. | 251,655,864.84 | 2018-07-27 | 2032-08-29 | No |
| DongguanFruitVegetableNon-stapleFoodTradingMarketCo.,Ltd.*2 | 45,874,627.78 | 2019-05-09 | No | |
| DongguanHoujieXundaIndustrialCo.,Ltd. | 16,534,635.16 | 2019-01-25 | 2031-01-24 | No |
| DongguanFruitVegetableNon-stapleFoodTradingMarketCo.,Ltd. | 16,534,635.16 | 2019-01-25 | 2031-01-24 | No |
Explanationonrelatedguarantee*1Therelatedguaranteewilllastuntiltheprincipalandinterestoftheloanaresettled.*2Thematuritydateoftherelatedguaranteeistwoyearsaftertheexpirydateortwoyearsaftertherefunddate.
(5)Relatedparty’sborrowedfunds
InRMB
| Relatedparty | Borrowingamount | Startingdate | Maturitydate | Note |
| Borrowing | ||||
| Lending | ||||
(6)Relatedparty’sassetstransferanddebtreorganization
InRMB
| Relatedparty | Relatedtransactioncontent | CurrentPeriod | LastPeriod |
(7)Remunerationofkeymanager
InRMB
| Item | CurrentPeriod | LastPeriod |
(8)Otherrelatedtransaction
6.Receivableandpayableofrelatedparty
(1)Receivable
InRMB
| ItemName | Relatedparty | Endingbalance | Openingbalance | ||
| Bookbalance | Baddebtprovision | Bookbalance | Baddebtprovision | ||
| Otheraccountreceivable | ChangzhouShenbaoChacangE-businessCo.,ltd. | 24,255,375.15 | 21,768,266.87 | 24,350,611.65 | 21,803,513.37 |
| Otheraccountreceivable | ShenzhenShichumingmenCateringManagementCo.,Ltd. | 1,947,256.59 | 469,107.98 | 1,382,651.77 | 469,107.98 |
| Otheraccountreceivable | ShenzhenHigreenInternationalAgriculturalProductsLogisticManagementCo.,Ltd | 50,000.00 | 50,000.00 | ||
| Otheraccountreceivable | ShenzhenShenliangColdTransportCo.,Ltd. | 3,831.12 | 3,831.12 | ||
| Otheraccountreceivable | ShenzhenInvestmentHoldingsCo.,Ltd. | 415,644.52 | 415,644.52 | ||
| Otheraccountreceivable | SHENZHENSYDATATECHNOLOGYCO.,LTD | 3,727,757.63 | 50,714.11 | ||
(2)Payable
InRMB
| ItemName | Relatedparty | Endingbookbalance | Openingbookbalance |
| Dividendpayable | ShenzhenInvestmentManagementCo.,Ltd | 2,690,970.14 | 2,690,970.14 |
| Otheraccountpayable | ShenzhenFoodMaterialsGroupCo.,Ltd | 160,648,886.31 | 219,472.47 |
| Otheraccountpayable | ShenzhenDuoxiEquityInvestmentFundManagementCo.,Ltd. | 41,486.00 | 41,486.00 |
| Otheraccountpayable | ShenzhenShichumingmenCateringManagementCo.,Ltd. | 184,275.00 | |
| Otheraccountpayable | ShenzhenShenliangColdTransportCo.,Ltd. | 2,790.00 | 2,790.00 |
| Otheraccountpayable | ZhanjiangChangshan(Shenzhen)EcologicalAquacultureCo.,Ltd | 7,999,570.83 | 7,988,954.17 |
| Otheraccountpayable | ShenzhenInvestmentManagementCo.,Ltd | 3,510,297.20 | 3,510,297.20 |
7.Relatedpartycommitment
8.Other
XIII.Share-basedpayment
1.Overallsituationofshare-basedpayment
□Applicable√Notapplicable
2.Share-basedpaymentsettledbyequity
□Applicable√Notapplicable
3.Share-basedpaymentsettledbycash
□Applicable√Notapplicable
4.Modificationandterminationofshare-basedpaymentNil
5.OtherNil
XIV.Commitmentorcontingency
1.Importantcommitments
ImportantcommitmentsonbalancesheetdateTheCompanyhasnoimportantcommitmentsthatneedtobedisclosedupto30June2020.
2.Contingency
(1)Contingencyonbalancesheetdate
1)DisputesovertheloancontractsbetweenChangzhouShenbaoChacangE-commenceCo.,Ltd.,theCompanyandShenzhenAgriculturalProductsFinancingGuaranteeCo.,Ltd.OnJuly15,2016,ShenzhenAgriculturalProductsFinancingGuaranteeCo.,Ltd.(hereinafterreferredtoasAgriculturalProductsGuaranteeCompany)submitteda“CivilAppeal”tothePeople’sCourtofFutianDistrict,Shenzhen,requestingChangzhouShenbaoChacangE-commenceCo.,Ltd.(hereinafterreferredtoasChangzhouShenbaoChacangCompany)torepaytheloanprincipalamountofRMB5,000,000.00,theinterestofRMB389,968.52,andtheinterestpenaltyofRMB3,200,271.79(theinterestpenaltywastemporarilycalculatedtoJune30,2016,whichshallbeactuallycalculatedtothedateofthefullrepaymentoftheborrowing);andpaythecompensationofRMB100,000.00(5millionYuan×2%);twoitemsintotalwereRMB8,690,240.31;theCompanyundertookjointliabilityfortheloanofRMB5,000,000.00.OnMay31,2017,ShenzhenFutianDistrictCourtmadethefirst-instancejudgmentandruledChangzhouShenbaoChacangCompanytorepaytheloanprincipalofRMB5millionandtheinterestandinterestpenalty,theCompanydidnotneedtoundertakejointliabilityfortheloanofRMB5millionofChangzhouShenbaoChacangCompany.OnJuly4,2017,theAgriculturalProductsGuaranteeCompanyfiledanappeal,onOctober13,2017,andShenzhenIntermediatePeople’sCourtheldthesecondinstancehearing.OnApril26,2019,theShenzhenIntermediatePeople'sCourtmadeaciviljudgment(CivilJudgment(2017)Yue03MinZhongNo.12296),andjudgedShenzhenShenbaoIndustrialCo.,Ltd.(nowrenamedasShenzhenCerealsHoldingsCo.,Ltd.)toundertakeajointandseveralliabilityfortheofChangzhouShenbaoChacangE-CommerceCo.,Ltd.withinthescopeof3.5millionyuan.ShenzhenShenbaoIndustrialCo.,Ltd.(nowrenamedasShenzhenCerealsHoldingsCo.,Ltd.)hastherighttoclaimcompensationfromChangzhouCompanyafterthepayment.Currently,thejudgmenthastakeneffect.AsofJune30,2020,thecompanyconfirmedtheestimateddebtof3.5millionyuan.
2)ContractdisputesbetweenMountWuyiShenbaoRockTeaCo.,Ltd.(hereinafterreferredtoasWuyishanRockTeaCompany)andHangzhouJuFangYongHoldingsCo.,Ltd.(hereinafterreferredtoasJufangyongCompany),andWuyishanJiuxingTeaCo.,Ltd.(hereinafterreferredtoasJiuxingCompany),FujianWuyishanYuxingTeaCo.,Ltd.(hereinafterreferredtoasYuxingCompany),XingjiuTeaCo.,Ltd.,ChenYuxing,ChenGuopeng
OnSeptember22,2017,JufangyongCompany,XingjiuTeaCo.,Ltd.,YuxingCompany,ChenYuxingandChenGuopengsignedan“FormalAgreementontheSeparationofFujianWuyishanShenbaoYuxingTeaCo.,Ltd.”,accordingtotheseparationagreement:theoriginalShenbaoYuxingCompanywasseparated,aftertheseparation,JufangyongCompanyheld100%equityofthenewlyestablishedcompany(i.e.ShenbaoRockTeaCompany),andYuxingCompanyandXingjiuTeaCompanyjointlyheld100%equityofthesurvivingcompany(JiuxingCompany);ShenbaoRockTeaCompanygotreceivablesof7,273,774.01yuan,whichwasguaranteedbyJiuxingCompanytoachieve2millionyuanwithinoneyearafterseparationandtheremainingamountwouldbereturnedwithin2years.ChenYuxingandChenGuopeng,astheactualcontrollersofJiuxingCompany,YuxingCompanyandXingjiuTeaCompany,assumedjointresponsibilityforthejointguaranteetoShenbaoRockTeaCompanyandJufangyongCompanyforalltheobligationsandresponsibilitiesstipulatedinthe“SeparationAgreement”.AsofSeptember22,2018,thetimelimitstipulatedinthe“SeparationAgreement”fortherealizationoffourreceivableshadexpired,andShenbaoRockTeaCompanystillhad5,212,301.40yuanunrecovered.OnDecember6,2018,ShenbaoRockTeaCompanyandHangzhouJufangyongCompanyappliedforarbitrationtoShenzhenCourtofInternationalArbitration(ShenzhenArbitrationCommission)fortheabovematters,andrequestedJiuxingCompanytopay5,272,934.01yuantoShenbaoRockTeaCompany,andrequestedYuxingCompany,XingjiuTeaCompany,ChenYuxingandChenGuopengtoassumejointliability.OnApril18,2019,ShenzhenInternationalArbitrationCourtheardthearbitrationcaseincourt.Sincerelevantmattersarestilltobedeterminedandascertained,thetwopartiesconcernedshallprovidesupplementarydefensematerialstothecourt.Currently,thecasehasnotyetbeenarbitratedbyShenzhenInternationalArbitrationCourt.Asofthedateofapprovalofthefinancialstatements,theShenzhenArbitrationCommissionhasnotyetdeterminedthearbitratorandthedateofthehearing.Asof30June2020,thecompanyhasaccrued4,469,493.65yuanbaddebtprovision.
3)DisputesonmungbeanbusinessbetweenShenzhenCerealsGroup(SZCG)andJilinTongyuCountyShengdaCompanyInAugust2007,ShenzhenCerealsGroupandTongyuCountyShengdaGrainandOilTradingCo.,Ltd.(hereinafterreferredtoasShengdaCompany)signedthe“MungBeanEntrustedAcquisition,ProcessingandStorageContract”,fromOctober2007toMay2008,totally4,918.00tonsofmungbeanswereacquired,theCompanypaidpaymentforgoodsof30millionyuan.Accordingtothecontract,afterthecompletionoftheentrustedacquisition,ShengdaCompanyhastheobligationstoassistinthesaleofgoodsandbuy-back.ShengdaCompanydidnotfullyfulfillitsobligations,andShenzhenCerealsGroupalsocarriedoutvariousformsofcollection.InSeptember2010,ShenzhenCerealsGroupsuedShengdaCompanyforrepaymentofitsarrearsandinterest.Thetwopartiesreachedanaccommodationduringthecourttrial,andFutianDistrictPeople’sCourtofShenzhenissueda“PaperofCivilMediation”,butShengdaCompanydidnotfullyfulfilltherepaymentobligation,ShenzhenCerealsGrouphasappliedtothecourtforenforcement.Asof30June2020,thebookreceivablesamountedtoRMB5,602,468.81,andtheexecutionofremainingfundshaslargeuncertainties.TheCompanyhasfullymadeprovisionforbaddebtsofRMB5,602,468.81.
4)ContractdisputesamongShenzhenCerealsGroup,HualianGrainandOil,GuangzhouJinheFeedCo.,Ltd.andHuangXianningImportAgentFromOctober2005toJanuary2007,ShenzhenCerealsGroup,HualianGrainandOil,andGuangzhouJinheFeedCo.,Ltd.(hereinafterreferredtoasGuangzhouJinheCompany)signed20“ImportAgentContracts”,agreedthatShenzhenCerealsGroupandHualianGrainandOilagentGuangzhouJinheCompanytoimportPeruvianfishmeal.InAugust2007,HualianGrainandOil,GuangzhouJinheCompanyandHuangxianningsignedthe“GuaranteeContract”,agreedthatHuangxianningwouldguaranteethatallpayablesofGuangzhouJinheCompanyunderthetradecontractssignedbyHualianGrainandOilandGuangzhouJinheCompanywouldbepaidontime.Later,duetoGuangzhouJinheCompany’sinsufficientpaymentofgoodsandimportagencyfees,ShenzhenCerealsGroupandHualianGrainandOilfiledalawsuittoFutianDistrictPeople’sCourtofShenzhen.OnFebruary16,2015,theFutianDistrictPeople’sCourtofShenzhenmadethefirst-instancejudgment([2014]SFFMECZNo.786),andsentencedGuangzhouJinheCompanytopayRMB10,237,385.74toShenzhenCerealsGroupandHualianGrainandOil,andbearthecaseacceptancefeeofRMB83,224.00;HuangXianningdoesnotneedtobearthejointandseveralliability.AsGuangzhouJinheCompanyrefusedtoaccepttheabovefirst-instancejudgment,itlodgedanappealtotheShenzhenIntermediatePeople’sCourt,claimingthattheprosecutionofShenzhenCerealsGroupandHualianGrainandOilhadexceededthetimelimitforlitigation.OnMarch30,2017,theShenzhenIntermediatePeople’sCourtmadethesecond-instancejudgment(CivilJudgment[2015]SZFSZZNo.1767),andthejudgmentrejectedGuangzhouJinheCompany’sappealandupheldtheoriginaljudgment.Thecaseisstillinenforcement,andtheotherpartyhasnotpaidanymoney,ShenzhenCerealsGrouphasmadeprovisionforbaddebtsinproportionto100%oftheaccountsreceivableofRMB10,455,600ofGuangzhouJinheCompany.Accordingtothe“CommitmentLetterofShenzhenFudeState-ownedCapitalOperationCo.,Ltd.onthePendingLitigationofShenzhenCerealsGroupCo.,Ltd.”,IfShenzhenCerealsGroupCo.,Ltd.anditsholdingsubsidiariessufferanyclaims,compensation,lossesorexpensesduetothecontractdisputeswithGuangzhouJinheFeedCo.,Ltd.andHuangxianningImportAgent,ShenzhenFudeState-ownedCapitalOperationCo.,Ltd.willassumethecompensationorlosscausedbythelawsuits.
5)ContractdisputesbetweenHualianGrainandOilCompanyandZhuhaiDoumenHuabiFeedFactoryOnDecember9,2004,HualianGrainandOilCompanysignedapurchasesandsalescontractwithZhuhaiDoumenHuabiFeedFactorytosell2,000.00tonsofcorn,withpaymentforgoodsofRMB2,396,300,butthepaymenthasnotbeentakenback.InApril2005,HualianGrainandOilCompanydiscoveredthatZhuhaiDoumenHuabiFeedFactoryhadbasicallystoppedproductionandthegoodsweretransferred,thelegalrepresentative,LiangDongxing,hadfled.OnJuly2,2005,thepublicsecurityorganarrestedLiangDongxing.HualianCompanyhasprosecutedhimandwoninthelawsuit,andthelawsuithasbeensettledandinenforcement.
Asof30June2020,HualianGrainandOilCompanyhadreceivedRMB2,396,300fromZhuhaiDoumenHuabiFeedFactory,HualianGrainandOilCompanyhadmade100%ofbaddebtprovisionforthisamount.
6)ContractdisputesbetweenHualianGrainandOilCompanyandFoshanShundeDistrictHuaxingFeedFactoryInAugustandOctober2007,HualianGrainandOilCompanysoldgoodstoFoshanCityShundeDistrictHuaxingFeedFactory,andreceivedatotalofRMB2,958,600ofcommercialacceptancebills.Duetothecompany’soverduepayment,HualianGrainandOilCompanyfiledalawsuitwiththePeople’sCourtofShundeDistrict,FoshanCityonOctober29,2007,requestingFoshanCityShundeDistrictHuaxingFeedFactorytorepaythepaymentforgoodsandpaythecorrespondinginterests.FromJunetoJuly2011,totallytookbackthecompany’sbankruptcypropertysettlementofRMB1,638,900.Asof30June2020,HualianGrainandOilCompanyhadreceivablesofRMB1,319,700fromFoshanCityShundeDistrictHuaxingFeedFactory,andithadmade100%ofbaddebtprovisionforthisamount.
7)ContractdisputesbetweenHualianGrainandOilCompanyandLiangshuntongCompanyOnNovember15,2019,DalianLiangshuntongSupplyChainManagementCo.,Ltd.(hereinafterreferredtoas"LiangshuntongCompany")filedacivillawsuitwithShenzhenFutianDistrictPeople'sCourt(hereinafterreferredtoas"FutianCourt")onthegroundsofcontractdisputes,requiringShenzhenHualianGrainandOilTradingCo.,Ltd.(hereinafterreferredtoas"HualianGrainandOilCompany")toreturnthedepositof30millionyuan,interestof652,500yuan,thecornsupplychainservicefeeof50millionyuan,andthesettlementpaymentof2,259,200yuan,totaling33.4117millionyuan.OnNovember20,2019,HualianGrainandOilCompanyfiledacounterclaimagainstLiangshuntongCompanywiththefollowingclaims:1.OrderLiangshuntongCompanytopayHualianGrainandOilCompanytheprofitandlossdifferenceofthepurchaseandsalescontractandalltheexpensesincurredbythecornbusinessof26,504,205.13yuanandthecostofcapitalof10,336,285.11yuan(thecostofcapitalshouldbecalculateduntilthedateofactualpayment,anditistemporarilycalculateduntilNovember25,2019),totaling36,840,490.24yuan;2.OrderthatthelitigationcostsofthiscaseshallbebornebyLiangshuntongCompany.Thecaseisundertrial.OnDecember10,2019,HualianGrainandOilCompanyfiledalawsuitwithFutianCourtwiththeclaims:1.OrderLiangshuntongCompanytopayHualianGrainandOilCompanytheprofitandlossdifferenceofthepurchaseandsalecontractandalltheexpensesincurredbythecornbusinessof461,856.61yuanandthecostofcapitalof4,030,008.42yuan(thecostofcapitalshouldbecalculateduntilthedateofactualpayment,andiscurrentlycalculateduntilDecember10,2019),whichtotals4,491,865.03yuan;2.OrderthatthelitigationcostsinthiscaseshallbebornebyLiangshuntongCompany.Thecaseisundertrial.
8)ConstructioncontractdisputecasebetweenHeilongjiangHongxinglongNongkenShenxinGrainIndustrialParkCo.,Ltd.(hereinafterreferredtoas"HongxinglongGrainIndustrialParkCompany")andHeilongjiangZhishengdaConstructionEngineeringCo.,Ltd.(hereinafterreferredtoas"ZhishengdaCompany")
OnMay8,2020,HongxinglongGrainIndustrialParkCompanyreceivedlegalinstrumentssuchas"Subpoena","NoticeofProof,""NoticeofResponsetoProsecution","CivilLitigationRiskWarningLetter"and"CivilComplaint"fromtheHongxinglongPeople'sCourt,ZhishengdaCompanyfiledacivillawsuitwiththeHongxinglongPeople’sCourtonthegroundsoftheconstructioncontractdispute.Theappealsare:1.RequestthePeople’sCourttoconfirmthe"LetteronRectificationofCompletedProjectsandReleasingConstructionofUnconstructedProjects"issuedbyHongxinglongGrainIndustrialParkCompanyonApril7,2020doesnothavetheeffectofterminatingthecontract,andtheterminationofthecontractmadebyitisinvalid,andjudgethatHongxinglongGrainIndustrialParkCompanyshallcontinuetoperformthecontract(thecostoftheperformanceofcontractisrequiredtobe5,137,834.18yuan).2.ThecaseacceptancefeeandotherlitigationcostsshallbebornebyHongxinglongGrainIndustrialParkCompany.Thecaseisundertrial.
9)LegalservicecontractdisputecasebetweenHainanHaitianAquaticFeedCo.,Ltd.(hereinafterreferredtoas"HainanHaitianCompany")andHainanRightsProtectionLegalServiceCo.,Ltd.(hereinafterreferredtoas"HainanRightsProtectionCompany")HainanRightsProtectionCompanyfiledacivillawsuitwiththeMeilanDistrictPeople’sCourtofHaikouCityonthegroundsoflegalservicecontractdisputes.Theappealsare:1.OrderHainanHaitianCompanytopayHainanRightsProtectionCompanyagencyfeesof600,000yuan;2.OrderHainanHaitianCompanytopaycorrespondinglatefeestoHainanRightsProtectionCompany;3.OrderHainanHaitianCompanytocompensateHainanRightsProtectionCompanyforeconomiclossesof300,000yuan;4.HainanHaitianCompanyshallbearthelitigationcostsinthiscase.Thecaseisundertrial.
(2)IftheCompanyhasnoimportantcontingencyneedtodisclosed,explainreasons
TheCompanyhasnoimportantcontingencythatneedtodisclose.
3.OtherNilXV.Eventsafterbalancesheetdate
1.Importantnonadjustmentmatters
InRMB
| Item | Content | Impactonfinancialstatusandoperationresults | Reasonsoffailstoestimatetheimpact |
2.Profitdistribution
InRMB
3.SalesreturnNil
4.OthereventsafterbalancesheetdateNil
XVI.Otherimportantevents
1.Previousaccountingerrorscollection
(1)Retrospectiverestatement
InRMB
| Content | Treatmentprocedure | Itemsimpactduringvarycomparativeperiod | Accumulatedimpact |
(2)Prospectiveapplication
| Content | Approvalprocedure | Reasons |
2.Debtrestructuring
3.Assetsexchange
(1)Exchangeofnon-monetaryassets
(2)Otherassetsexchange
4.Pensionplan
ThemaincontentandimportantchangesoftheannuityplanaredetailedinNoteV-34.EmployeeCompensation-2.Theaccountingtreatmentmethodofpost-employmentbenefitssetcontributionplan
5.Discontinuingoperation
InRMB
| Item | Revenue | Expenses | Totalprofit | Incometaxexpenses | Netprofit | Profitofdiscontinuingoperationattributabletoownersofparentcompany |
Otherexplanation
6.Segment
(1)Recognitionbasisandaccountingpolicyforreportablesegment
(2)Financialinformationforreportablesegment
InRMB
| Item | Offsetbetweensegment | Total |
(3)TheCompanyhasnosegment,orunabletodisclosetotalassetsandliabilityofthesegment,explainreasons
(4)Otherexplanation
7.Othermajortransactionandeventsmakesinfluenceoninvestor’sdecision
8.OtherXVII.Principlenotesoffinancialstatementsofparentcompany
1.Accountreceivable
(1)Category
InRMB
| Category | Endingbalance | Openingbalance | ||||||||
| Bookbalance | Baddebtprovision | Bookvalue | Bookbalance | Baddebtprovision | Bookvalue | |||||
| Amount | Ratio | Amount | Accrualratio | Amount | Ratio | Amount | Accrualratio | |||
| Accountreceivablewithbaddebtprovisionaccrualonasinglebasis | 28,453.08 | 23.30% | 28,453.08 | 100.00% | 28,453.08 | 76.27% | 28,453.08 | 100.00% | ||
| Including: | ||||||||||
| Accountreceivablewithsingleminoramountbutwithbaddebtsprovisionaccruedonasinglebasis | 28,453.08 | 23.30% | 28,453.08 | 100.00% | 28,453.08 | 76.27% | 28,453.08 | 100.00% | ||
| Accountreceivablewithbaddebtprovisionaccrualonportfolio | 93,669.11 | 76.70% | 885.26 | 0.95% | 92,783.85 | 8,852.60 | 23.73% | 885.26 | 10.00% | 7,967.34 |
| Including: | ||||||||||
| Accountsreceivablewithprovisionforbaddebtsbyaginganalysis | 8,852.60 | 7.25% | 885.26 | 10.00% | 7,967.34 | 8,852.60 | 23.73% | 885.26 | 10.00% | 7,967.34 |
| Specificobjectcombination | 84,816.51 | 69.45% | 84,816.51 | |||||||
| Total | 122,122.19 | 100.00% | 29,338.34 | 92,783.85 | 37,305.68 | 100.00% | 29,338.34 | 7,967.34 |
Baddebtprovisionaccrualonsinglebasis:28,453.08Yuan
InRMB
| Name | Endingbalance | |||
| Bookbalance | Baddebtprovision | Accrualratio | Accrualcauses | |
| Singleprovision | 28,453.08 | 28,453.08 | 100.00% | Slightlypossiblytakenback |
Baddebtprovisionaccrualonsinglebasis:
InRMB
| Name | Endingbalance | |||
| Bookbalance | Baddebtprovision | Accrualratio | Accrualcauses | |
Baddebtprovisionaccrualonportfolio:885.26Yuan
InRMB
| Name | Endingbalance | ||
| Bookbalance | Baddebtprovision | Accrualratio | |
| Agingcombination(1-2years) | 8,852.60 | 885.26 | 10.00% |
| Specificobjectcombination | 84,816.51 | ||
| Total | 93,669.11 | 885.26 | -- |
Explanationonportfoliodetermines:
Baddebtprovisionaccrualonportfolio:
InRMB
| Name | Endingbalance | ||
| Bookbalance | Baddebtprovision | Accrualratio | |
Explanationonportfoliodetermines:
Iftheprovisionforbaddebtsofaccountreceivableismadeinaccordancewiththegeneralmodelofexpectedcreditlosses,pleaserefertothedisclosureofotheraccountreceivablestodiscloserelatedinformationaboutbad-debtprovisions:
□Applicable√NotapplicableByaccountage
InRMB
| Accountage | Endingbalance |
| Within1year(including1year) | 84,816.51 |
| Within1year | 84,816.51 |
| 1-2years | 8,852.60 |
| Over3years | 28,453.08 |
| Over5years | 28,453.08 |
| Total | 122,122.19 |
(2)Baddebtprovisionaccrual,collectedorreversalintheperiod
Baddebtprovisionaccrualintheperiod:
InRMB
| Category | Openingbalance | Amountchangedintheperiod | Endingbalance | |||
| Accrual | Collectedorreversal | Written-off | Other | |||
| Accruedbycombination | 28,453.08 | 28,453.08 | ||||
| Accruedbysingleitem | 885.26 | 885.26 | ||||
| Total | 29,338.34 | 29,338.34 | ||||
Includingmajoramountbaddebtprovisionthatcollectedorreversalintheperiod:
InRMB
| Enterprise | Amountcollectedorreversal | Collectionway |
(3)Accountreceivableactuallywritten-offintheperiod
InRMB
| Item | Amountwritten-off |
Includingmajoraccountreceivablewritten-off:
InRMB
| Enterprise | Nature | Amountwritten-off | Written-offcauses | Procedureofwritten-off | Resultedbyrelatedtransaction(Y/N) |
Explanationonaccountreceivablewritten-off:
(4)Top5accountreceivablesatendingbalancebyarrearsparty
InRMB
| Enterprise | Endingbalanceofaccountsreceivable | Proportionintotalreceivablesatendingbalance(%) | Baddebtpreparationendingbalance |
| First | 36,534.00 | 29.92% | 365.34 |
| Second | 34,890.00 | 28.57% | 348.90 |
| Third | 18,456.50 | 8.19% | 18,456.50 |
| Fourth | 13,392.51 | 15.11% | 133.93 |
| Fifth | 9,996.58 | 10.97% | 9,996.58 |
| Total | 113,269.59 | 92.76% |
(5)Accountreceivablederecognitionduetofinancialassetstransfer
(6)AssetsandliabilitiesresultedbyaccountreceivabletransferandcontinuesinvolvementOtherexplanation:
2.Otheraccountreceivable
InRMB
| Item | Endingbalance | Openingbalance |
| Dividendsreceivable | 650,000,000.00 | 260,000,000.00 |
| Otheraccountreceivable | 592,937,209.15 | 734,149,247.39 |
| Total | 1,242,937,209.15 | 994,149,247.39 |
(1)Interestreceivable
1)Category
InRMB
| Item | Endingbalance | Openingbalance |
2)Importantoverdueinterest
| Borrower | Endingbalance | Overduetime | Overduecauses | Whetherimpairmentoccursanditsjudgmentbasis |
Otherexplanation:
3)Accrualofbaddebtprovision
□Applicable√Notapplicable
(2)Dividendreceivable
1)Category
InRMB
| Item(orinvestedenterprise) | Endingbalance | Openingbalance |
| ShenzhenCerealsGroupCo.,Ltd | 650,000,000.00 | 260,000,000.00 |
| Total | 650,000,000.00 | 260,000,000.00 |
2)Importantdividendreceivablewithaccountageoveroneyear
InRMB
| Item(orinvestedenterprise) | Endingbalance | Accountage | Reasonsfornotcollection | Whetherimpairmentoccursanditsjudgmentbasis |
3)Accrualofbaddebtprovision
□Applicable√NotapplicableOtherexplanation:
(3)Otheraccountreceivable
1)Bynature
InRMB
| Nature | Endingbookbalance | Openingbookbalance |
| Marginanddeposit | 233,029.39 | |
| Intercoursefundsandother | 619,895,216.78 | 761,135,520.91 |
| Total | 620,128,246.17 | 761,135,520.91 |
2)Accrualofbaddebtprovision
InRMB
| Baddebtprovision | PhaseI | PhaseII | PhaseIII | Total |
| Expectedcreditlossesovernext12months | Expectedcreditlossesfortheentireduration(withoutcreditimpairmentoccurred) | Expectedcreditlossesfortheentireduration(withcreditimpairmentoccurred) | ||
| BalanceonJan.1,2020 | 204,668.96 | 26,781,604.56 | 26,986,273.52 | |
| BalanceofJan.1,2020intheperiod | —— | —— | —— | —— |
| Currentaccrual | 204,763.50 | 204,763.50 | ||
| BalanceonJun.30,2020 | 204,668.96 | 26,986,368.06 | 27,191,037.02 |
Changeofbookbalanceoflossprovisionwithamounthasmajorchangesintheperiod
□Applicable√Notapplicable
Byaccountage
InRMB
| Accountage | Endingbalance |
| Withinoneyear(including1-year) | 594,633,840.82 |
| Withinoneyear | 594,633,840.82 |
| 1-2years | 436,664.33 |
| 2-3years | 436,664.33 |
| Over3years | 24,621,076.69 |
| 3-4years | 436,664.33 |
| 4-5years | 505,459.41 |
| Over5years | 23,678,952.95 |
| Total | 620,128,246.17 |
3)Baddebtprovisionaccrual,collectedorreversalintheperiod
Baddebtprovisionaccrualintheperiod:
InRMB
| Category | Openingbalance | Amountchangedintheperiod | Endingbalance | |||
| Accrual | Collectedorreversal | Writtenoff | Other | |||
| Combinationprovision | 204,668.96 | 204,668.96 | ||||
| Singleprovision | 26,781,604.56 | 204,763.50 | 26,986,368.06 | |||
| Total | 26,986,273.52 | 204,763.50 | 27,191,037.02 | |||
Includingmajoramountwithbaddebtprovisionreverseorcollectedintheperiod:
InRMB
| Enterprise | Amountreversalorcollected | Collectionway |
4)Otheraccountreceivableactuallywritten-offintheperiod
InRMB
| Item | Amountwritten-off |
Includingimportantotheraccountreceivablewritten-off:
InRMB
| Enterprise | Nature | Amountwritten-off | Written-offcauses | Procedureofwritten-off | Resultedbyrelatedtransaction(Y/N) |
Explanationonotheraccountreceivablewritten-off:
5)Top5otherreceivablesatendingbalancebyarrearsparty
InRMB
| Enterprise | Nature | Endingbalance | Accountage | Ratiointotalendingbalanceofotheraccountreceivables | Endingbalanceofbaddebtreserve |
| First | Internalfunds | 224,193,802.86 | Withinoneyear | 36.15% | |
| Second | Internalfunds | 212,203,760.22 | Withinoneyear | 34.22% | |
| Three | Internalfunds | 110,297,766.37 | Withinoneyear | 17.79% | |
| Fourth | Internalfunds | 26,205,575.88 | Withinoneyear | 4.23% | |
| Fifth | Internalfunds | 23,925,375.15 | Withinoneyear | 3.86% | 21,504,266.87 |
| Total | -- | 596,826,280.48 | -- | 96.25% | 21,504,266.87 |
6)Otheraccountreceivablesrelatedtogovernmentgrants
InRMB
| Enterprise | Governmentgrants | Endingbalance | Endingaccountage | Time,amountandbasisforcollectionpredicted |
7)Otherreceivableforterminationofconfirmationduetothetransferoffinancialassets
8)TheamountofassetsandliabilitiesthataretransferredotherreceivableandcontinuedtobeinvolvedOtherexplanation:
3.Long-termequityinvestment
InRMB
| Item | Endingbalance | Openingbalance | ||||
| Bookbalance | Impairmentprovision | Bookvalue | Bookbalance | Impairmentprovision | Bookvalue | |
| Investmentforsubsidiary | 3,713,214,425.09 | 3,713,214,425.09 | 3,713,214,425.09 | 3,713,214,425.09 | ||
| Investmentforassociatesandjointventure | 2,927,628.53 | 2,927,628.53 | 5,139,058.21 | 2,927,628.53 | 2,211,429.68 | |
| Total | 3,716,142,053.62 | 2,927,628.53 | 3,713,214,425.09 | 3,718,353,483.30 | 2,927,628.53 | 3,715,425,854.77 |
(1)Investmentforsubsidiary
InRMB
| Theinvestedentity | Openingbalance(bookvalue) | Increaseanddecreaseincurrentperiod | Endingbalance(bookvalue) | Endingbalanceofimpairmentprovision | |||
| Additionalinvestment | Reduceinvestment | Provisionforimpairment | Other | ||||
| HuizhouShenbaoTechnologyCo.,Ltd. | 60,000,000.00 | 60,000,000.00 | |||||
| ShenzhenCerealsGroupCo.,Ltd.-headquarters | 3,291,415,036.82 | 3,291,415,036.82 | |||||
| ShenzhenShenbaoIndustryandTradeDevelopmentCo.,Ltd. | 5,500,000.00 | 5,500,000.00 | |||||
| ShenzhenShenbaoHuachengTechnologyCo.,Ltd. | 168,551,781.80 | 168,551,781.80 | |||||
| ShenzhenShenbaoTechnologyCenterCo.,Ltd. | 54,676,764.11 | 54,676,764.11 | |||||
| ShenzhenShenbaoSanjingFoodandBeverageDevelopmentCo.,Ltd. | 80,520,842.36 | 80,520,842.36 | |||||
| ShenzhenShenbaoPropertyManagement | 2,550,000.00 | 2,550,000.00 | |||||
| Co.,Ltd. | |||
| ShenzhenShenshenbaoInvestmentCo.,Ltd. | 50,000,000.00 | 50,000,000.00 | |
| Total | 3,713,214,425.09 | 3,713,214,425.09 |
(2)Investmentforassociatesandjointventure
InRMB
| investmentcompany | Openingbalance(bookvalue) | Currentchanges(+,-) | Endingbalance(bookvalue) | Endingbalanceofimpairmentprovision | |||||||
| Additionalinvestment | Capitalreduction | Investmentgainsrecognizedunderequity | Othercomprehensiveincomeadjustment | Otherequitychange | Cashdividendorprofitannouncedtoissued | Accrualofimpairmentprovision | Other | ||||
| I.Jointventure | |||||||||||
| II.Associatedenterprise | |||||||||||
| GuangzhouShenbaoMendaoTeaCo.,Ltd | 2,211,429.68 | 2,162,924.05 | -48,505.63 | 0.00 | 0.00 | ||||||
| ShenzhenShenbao(Liaoyuan)IndustrialCompany | 0.00 | 57,628.53 | |||||||||
| ShenzhenShenbao(Xinmin)FoodsCo.,Ltd | 0.00 | 2,870,000.00 | |||||||||
| ChangzhouShenbaoChacang | |||||||||||
| Subtotal | 2,211,429.68 | 2,162,924.05 | -48,505.63 | 2,927,628.53 | ||
| Total | 2,211,429.68 | 2,927,628.53 |
(3)Otherexplanation
4.Operatingincomeandoperatingcost
InRMB
| Item | CurrentPeriod | LastPeriod | ||
| Income | Cost | Income | Cost | |
| Mainbusiness | 191,007.09 | 250,130.28 | 31,562,730.23 | 29,829,293.00 |
| Total | 191,007.09 | 250,130.28 | 31,562,730.23 | 29,829,293.00 |
Informationrelatingtorevenue:
InRMB
| Category | Branch1 | Branch2 | Total | |
| Including: | ||||
| Including: | ||||
| Including: | ||||
| Including: | ||||
| Including: | ||||
| Including: | ||||
| Including: |
Informationrelatingtoperformanceobligations:
Informationrelatedtothetransactionpriceapportionedtotheremainingperformanceobligations:
Theamountofincomecorrespondingtotheperformanceobligationsthathavebeensignedattheendofthisreportingperiodbuthavenotyetbeenfulfilledorhavenotdonewithfulfillmentis0.00yuan,amongthem,yuanofrevenueisexpectedtoberecognizedinYEAR,yuanofrevenueisexpectedtoberecognizedinYEAR,andyuanofrevenueisexpectedtoberecognizedinYEAR.Otherexplanation:
5.Investmentincome
InRMB
| Item | CurrentPeriod | LastPeriod |
| Long-termequityinvestmentincomemeasuredbyequity | -48,505.63 | -135,033.88 |
| Investmentincomefromdisposaloflong-termequityinvestment | 2,337,075.95 | |
| Dividendincome | 390,473,276.41 | |
| Incomefromfinancialproducts | 50,729.15 | 1,567,648.80 |
| Total | 392,812,575.88 | 1,432,614.92 |
6.Other
XVIII.Supplementaryinformation
1.Currentnon-recurringgains/losses
√Applicable□Notapplicable
InRMB
| Item | Amount | Note |
| Gains/lossesfromthedisposalofnon-currentasset | 2,326,477.57 | |
| Governmentalgrantscalculatedintocurrentgainsandlosses(whilecloselyrelatedwiththenormalbusinessoftheCompany,excludingthefixed-amountorfixed-proportiongovernmentalsubsidyaccordingtotheunifiednationalstandard) | 10,824,560.17 | |
| Fundoccupationfeechargedtonon-financialenterprisesincludedincurrentprofitandloss | 204,763.50 | |
| Profitandlossofassetsdelegationonothers’investmentormanagement | 7,544,998.92 | |
| ExceptfortheeffectivehedgingbusinessrelatedtothenormalbusinessoftheCompany,thefairvaluechangesfromholdingthetradablefinancialassets,derivativefinancialassets,tradablefinancialliabilityandderivativefinancialliability;andinvestmentincomefromdisposaloftradablefinancialassets,derivativefinancialassets,tradablefinancialliabilityandothercreditorsinvestment | -572,784.42 | |
| Switchbackoftheimpairmentprovisionforaccountreceivablewithimpairmenttestonsinglebasisandcontractassets | 1,176,620.32 |
| Othernon-operatingincomeandexpenseotherthantheabovementionedones | -3,827,866.72 | |
| Othergainsandlossesitemscomplyingwithdefinitionfornon-recurringgainsandlosses | 337,500.00 | |
| Less:Impactonincometax | 3,616,736.56 | |
| Impactonminorityinterests | 418,928.46 | |
| Total | 13,978,604.32 | -- |
Concerningtheextraordinaryprofit(gain)/lossdefinedbyQ&AAnnouncementNo.1onInformationDisclosureforCompaniesOfferingTheirSecuritiestothePublic---ExtraordinaryProfit/loss,andtheitemsdefinedasrecurringprofit(gain)/lossaccordingtothelistsofextraordinaryprofit(gain)/lossinQ&AAnnouncementNo.1onInformationDisclosureforCompaniesOfferingTheirSecuritiestothePublic---ExtraordinaryProfit/loss,explainreasons
□Applicable√Notapplicable
2.ROEandearningspershare
| Profitsduringreportperiod | WeightedaverageROE | Earningspershare | |
| BasicEPS(Yuan/share) | DilutedEPS(Yuan/share) | ||
| NetprofitsbelongtocommonstockstockholdersoftheCompany | 4.66% | 0.1828 | 0.1828 |
| NetprofitsbelongtocommonstockstockholdersoftheCompanyafterdeductingnonrecurringgainsandlosses | 4.35% | 0.1707 | 0.1707 |
3.DifferenceoftheaccountingdataunderaccountingrulesinandoutofChina
(1)Differenceofthenetprofitandnetassetsdisclosedinfinancialreport,underbothIAS(InternationalAccountingStandards)andChineseGAAP(GenerallyAcceptedAccountingPrinciples)
√Applicable□Notapplicable
InRMB
| Netprofit | Netassets | |||
| CurrentPeriod | LastPeriod | Endingbalance | Openingbalance | |
| ChineseGAAP | 210,738,686.12 | 203,168,850.61 | 4,400,982,300.34 | 4,420,751,187.57 |
| ItemsandamountadjustedbyIAS: | ||||
| Adjustmentforotherpayablefundofstockmarketregulation | 1,067,000.00 | 1,067,000.00 | ||
| IAS | 210,738,686.12 | 203,168,850.61 | 4,402,049,300.34 | 4,421,818,187.57 |
(2)Differenceofthenetprofitandnetassetsdisclosedinfinancialreport,underbothforeignaccountingrulesandChineseGAAP(GenerallyAcceptedAccountingPrinciples)
□Applicable√Notapplicable
(3)ExplanationondatadifferencesundertheaccountingstandardsinandoutofChina;asforthedifferencesadjustmentauditedbyforeignauditinginstitute,listednameoftheinstitute
4.Other
SectionXII.DocumentsavailableforReference
1.Textoffinancialstatementwithsignatureandsealsoflegalperson,personinchargeofaccountingworksandpersoninchargeofaccountinginstitution;
2.OriginalandofficialcopiesofalldocumentswhichhavebeendisclosedonSecuritiesTimes,ChinaSecuritiesJournal,andHongKongCommercialDailyinthereportperiod;
3.Originalcopiesof2020Semi-AnnualReportwithsignatureoftheChairman.