深圳市特力(集团)股份有限公司
SHENZHENTELLUSHOLDINGCO.,LTD.
Semi-AnnualReport2021
August2021
SectionI.ImportantNotice,ContentandInterpretationBoardofDirectors,SupervisoryCommittee,alldirectors,supervisorsandseniorexecutivesofShenzhenTellusHoldingCo.,Ltd.(hereinafterreferredtoastheCompany)herebyconfirmthattherearenoanyfictitiousstatements,misleadingstatements,orimportantomissionscarriedinthisreport,andshalltakeallresponsibilities,individualand/orjoint,forthereality,accuracyandcompletionofthewholecontents.FuChunlong,PrincipaloftheCompany,LouHong,personinchargeofaccountingworksandLiaoZebin,personinchargeofaccountingorgan(accountingprincipal)herebyconfirmthattheFinancialReportofSemi-AnnualReport2021isauthentic,accurateandcomplete.AlldirectorsareattendedtheBoardMeetingforreportdeliberation.SecuritiesTimes,HongKongCommercialDailyandJuchaoWebsite(www.cninfo.com.cn)arethemediaforinformationdisclosureappointedbytheCompany,allinformationunderthenameoftheCompanydisclosedontheabovesaidmediashallprevail.Concerningtheforward-lookingstatementswithfutureplanninginvolvedintheReport,theydonotconstituteasubstantialcommitmentforinvestors,andinvestorsareadvisedtoexercisecautionofinvestmentrisks.TheCompanyhasnoplanofcashdividendscarriedout,bonusissuedandcapitalizingofcommonreserveseither.
Content
SectionIImportantNotice,ContentandInterpretation ...... 2
SectionIICompanyProfileandMainFinancialIndexes ...... 5
SectionIIIManagementDiscussionandAnalysis ...... 8
SectionIVCorporateGovernance ...... 19
SectionVEnviornmentalandSocialResponsibility ...... 20
SectionVIImportantEvents…………………………………………………… ...... 21
SectionVIIChangesinsharesandparticularaboutshareholders…………………………………… ...... 32
SectionVIIIPreferredStock ...... 36
SectionIXCorporateBond ...... 36
SectionXFinancialReport ...... 37
DocumentsAvailableforReference
(1)FinancialStatementofSemi-Annual2021carryingthesignaturesandsealsofthelegalrepresentative,CFOandmanagerofFinancialDepartment;
(2)AlloriginaldocumentsandnotificationsoftheCompanydisclosedinnewspapersthatdesignatedbyCSRCinreportperiod;
(3)Semi-Annualreportdisclosedinsecuritiesmarket.
Interpretation
| Items | Refersto | Contents |
| CSRC | Refersto | ChinaSecuritiesRegulatoryCommission |
| SZExchange | Refersto | ShenzhenStockExchange |
| ShenzhenBranchofSD&C | Refersto | ShenzhenBranchofChinaSecuritiesDepository&ClearingCorporationLimited |
| Company,theCompany,ourCompany,TellusGroup | Refersto | ShenzhenTellusHoldingCo.,Ltd. |
| Reportingperiod,thisreportingperiod,theyear | Refersto | JanuarytoJuneof2021 |
| AutoIndustryandTradeCompany | Refersto | ShenzhenAutoIndustryandTradeCorporation |
| ZhongtianCompany | Refersto | ShenzhenZhongtianIndustrialCo,.Ltd. |
| HuariCompany | Refersto | ShenzhenHuariToyotaAutoSalesCo.,Ltd,ShenzhenSDGHuariAutoEnterpriseCo.,Ltd. |
| HuariToyota | Refersto | ShenzhenHuariToyotaAutoSalesCo.,Ltd |
| ZungFuTellus | Refersto | ShenzhenZungFuTellusAutoServiceCo.,Ltd. |
| DongfengCompany | Refersto | ShenzhenDongfengMotorCo.,Ltd. |
| TellusStarlight | Refersto | AnhuiTellusStarlightJewelryInvestmentCo.,Ltd. |
| TellusStarlightJinzun | Refersto | AnhuiTellusStarlightJinzunJewelryCo.,Ltd. |
| SichuanChannelPlatformCompany,SichuanJewelryCompany | Refersto | SichuanTellusJewelryTech.Co.,Ltd. |
| XinglongCompany | Refersto | ShenzhenXinglongMachineryMouldCo.,Ltd. |
| SDG | Refersto | ShenzhenSpecialDevelopmentGroupCo.,Ltd. |
SectionIICompanyProfileandMainFinancialIndexes
I.Companyprofile
| Shortformofthestock | Tellus-A,Tellus-B | Stockcode | 000025,200025 |
| Stockexchangeforlisting | ShenzhenStockExchange | ||
| NameoftheCompany(inChinese) | 深圳市特力(集团)股份有限公司 | ||
| ShortformoftheCompany(inChineseifapplicable) | 特力A | ||
| ForeignnameoftheCompany(ifapplicable) | ShenzhenTellusHoldingCo.,Ltd. | ||
| Legalrepresentative | FuChunlong | ||
II.Person/Waytocontact
| SecretaryoftheBoard | Rep.ofsecurityaffairs | |
| Name | QiPeng | LiuMenglei |
| Contactadd. | 3/F,TellusBuilding,ShuiBeiErRoad,LuohuDistrict,Shenzhen | 3/F,TellusBuilding,ShuiBeiErRoad,LuohuDistrict,Shenzhen |
| Tel. | (0755)88394183 | (0755)88394183 |
| Fax. | (0755)83989386 | (0755)83989386 |
| ir@tellus.cn | liuml@tellus.cn |
III.Others
1.Wayofcontact
Whetherregistrationsaddress,officesaddressandcodesaswellaswebsiteandemailoftheCompanychangedinreportingperiodornot
□Applicable√NotapplicableTheregistrationsaddress,officesaddressandcodesaswellaswebsiteandemailoftheCompanyhavenochangeinreportingperiod,foundmoredetailsinAnnualReport2020.
2.Informationdisclosureandpreparationplace
Whetherinformationdisclosureandpreparationplacechangedinreportingperiodornot
□Applicable√NotapplicableThenewspaperappointedforinformationdisclosure,websiteforsemi-annualreportpublishappointedbyCSRCandpreparationplaceforsemi-annualreporthavenochangeinreportingperiod,foundmoredetailsinAnnualReport2020IV.MainaccountingdataandfinancialindexesWhetherithasretroactiveadjustmentorre-statementonpreviousaccountingdataornot
□Yes√No
| Currentperiod | Sameperiodoflastyear | Changesinthecurrentperiodcomparedwiththesameperiodofthepreviousyear(+,-) | |
| Operatingincome(RMB) | 249,492,261.24 | 197,051,790.29 | 26.61% |
| NetprofitattributabletoshareholdersofthelistedCompany(RMB) | 44,542,715.32 | 25,594,985.78 | 74.03% |
| NetprofitattributabletoshareholdersofthelistedCompanyafterdeductingnon-recurringgainsandlosses(RMB) | 41,590,592.47 | 21,402,820.83 | 94.32% |
| Netcashflowarisingfromoperatingactivities(RMB) | 59,571,399.02 | 17,306,322.20 | 244.22% |
| Basicearningspershare(RMB/Share) | 0.1033 | 0.0594 | 73.91% |
| Dilutedearningspershare(RMB/Share) | 0.1033 | 0.0594 | 73.91% |
| WeightedaverageROE | 3.34% | 1.99% | 1.35% |
| Period-end | Period-endoflastyear | Changesattheendofthecurrentperiodcomparedwiththeendofthepreviousyear | |
| Totalassets(RMB) | 1,784,126,049.16 | 1,708,442,301.15 | 4.43% |
| NetassetsattributabletoshareholderoflistedCompany(RMB) | 1,346,446,224.39 | 1,310,524,675.47 | 2.74% |
V.DifferenceoftheaccountingdataunderaccountingrulesinandoutofChina
1.Differenceofthenetprofitandnetassetsdisclosedinfinancialreport,underbothIAS(InternationalAccountingStandards)andChineseGAAP(GenerallyAcceptedAccountingPrinciples)
□Applicable√NotapplicableTheCompanyhadnodifferenceofthenetprofitornetassetsdisclosedinfinancialreport,undereitherIAS(InternationalAccountingStandards)orChineseGAAP(GenerallyAcceptedAccountingPrinciples)intheperiod.
2.Differenceofthenetprofitandnetassetsdisclosedinfinancialreport,underbothforeignaccountingrulesandChineseGAAP(GenerallyAcceptedAccountingPrinciples)
□Applicable√NotapplicableTheCompanyhadnodifferenceofthenetprofitornetassetsdisclosedinfinancialreport,undereitherforeignaccountingrulesorChineseGAAP(GenerallyAcceptedAccountingPrinciples)intheperiod.VI.Itemsandamountsofextraordinaryprofit(gains)/loss
√Applicable□Notapplicable
InRMB
| Item | Amount | Note |
| Governmentalsubsidyreckonedintocurrentgains/losses(notincludingthesubsidyenjoyedinquotaorrationaccordingtonationalstandards,whicharecloselyrelevanttoenterprise’sbusiness) | 322,337.67 | Governmentsubsidies |
| ExceptforeffectivehedgebusinessrelevanttonormaloperationoftheCompany,gainsandlossesarisingfromfairvaluechangeoftradablefinancialassets,derivativefinancialliabilities,tradablefinancialliabilityandderivativefinancialliabilityandinvestmentincomefromdisposaloftradablefinancialassets,derivativefinancialliabilities,tradablefinancialliability,derivativefinancialliabilityandotherdebtinvestment | 4,293,168.16 | Wealthmanagementincome |
| Othernon-operatingincomeandexpenditureexceptfortheaforementioneditems | 62,938.74 | Theincomefromforfeitureofleasedepositduetothetenantwithdrewtheleaseinadvance |
| Othergain/lossthatmeetthedefinitionofnon-recurringgain/loss | 4,082.49 | |
| Less:Impactonincometax | 1,085,554.08 | |
| Impactonminorityshareholders’equity(post-tax) | 644,850.13 | |
| Total | 2,952,122.85 | -- |
Concerningtheextraordinaryprofit(gain)/lossdefinedbyQ&AAnnouncementNo.1onInformationDisclosureforCompaniesOfferingTheirSecuritiestothePublic---ExtraordinaryProfit/loss,andtheitemsdefinedasrecurringprofit(gain)/lossaccordingtothelistsofextraordinaryprofit(gain)/lossinQ&AAnnouncementNo.1onInformationDisclosureforCompaniesOfferingTheirSecuritiestothePublic---ExtraordinaryProfit/loss,explainreasons
□Applicable√NotapplicableInreportingperiod,theCompanyhasnoparticularaboutitemsdefinedasrecurringprofit(gain)/lossaccordingtothelistsofextraordinaryprofit(gain)/lossinQ&AAnnouncementNo.1onInformationDisclosureforCompaniesOfferingTheirSecuritiestothePublic---ExtraordinaryProfit/loss
SectionIII.ManagementDiscussionandAnalysis
I.MainbusinessesoftheCompanyinthereportingperiodThemainbusinessoftheCompanyduringthereportingperiodwasautosales,autotesting,maintenanceandaccessoriessales;resourceassetsmanagementandjewelryservicebusiness.
(1)Automobilesales,testing,maintenanceandpartssales:Inthefirsthalfof2021,China'seconomycontinuedtherecoverytrendonthewhole,buttherewerelargestructuraldifferences,productionwasstrongerthandemand,investmentwasbetterthanconsumption,andoptionalconsumergoodssuchasautomobileswerelessthanexpected.Duringthereportingperiod,undertheadversecircumstancesofthemarketenvironment,thecompanycarriedoutavarietyofinnovativemarketingmethodsandothermeasurestoincreasemarketingeffortsandimproveafter-salesservicelevel.Salesrevenueofautomobileswas95.6439millionyuan,adecreaseof3.19%overthesameperiodlastyear,therevenuefromautoinspectionandmaintenanceandaccessoriessaleswas
23.1571millionyuan,anincreaseof21%overthesameperiodlastyear.
(2)Resourceassetmanagement:WiththeincreasingCOVID-19vaccinecoveragerate,andthegradualimprovementofthepandemicsituationinChina,thedemandofthepropertyrentalmarkethasalsoincreasedsignificantlyandthevacancyratehasdecreasedsignificantly.Duringthereportingperiod,inresponsetothegradualrecoveryofthemarket,ontheonehand,thecompanyimprovedthequalityofoldpropertyandconsolidatedthebasicabilityofcommercialoperation;Ontheotherhand,weincreasedthepromotionofactivities,promotedtheimprovementofinternalmanagementbyrelyingonprofessionalinstitutions,andintroducedpreferentialinvestmentpoliciesintimetoseizethemarketheightsincombinationwiththedeepimpactofthepandemic.Duringthereportingperiod,theCompanyachieved99.0131millionyuanfrompropertyrentalandservices,anincreaseof59.31%overthesameperiodlastyear.
(3)Jewelryservicebusiness:Thedomesticgoldandjewelryretailmarkethasrecoveredsignificantly.FromJanuarytoMay,thetotalretailsalesofgold,silverandjewelryconsumergoodsreached128.3billionyuan,increasedby68.4%yearonyear.Duringthereportingperiod,thecompanytookmultiplemeasures,deeplyexploredtheextensionofthird-partycomprehensiveservicesforjewelry,andinnovatedthebusinessmodel.Ontheotherhand,westrengthenedriskmonitoringtoensurethesteadygrowthofstate-ownedassetsandinvestors'interests.Inthefirsthalfyearof2021,thecumulativeoperatingincomewas31.6779millionyuan,anincreaseof
14.7147millionyuanor86.74%overthesameperiodlastyear.II.CoreCompetitivenessAnalysis(i)Deeplycultivatethejewelryindustry,givefullplaytotheadvantagesofidentity,andbuildanindustrialplatformThecompanyhascontinuedtotrytoinnovatebusinessmodelsandsteadilypromotetheimplementationof
transformationprojects,givefullplaytothecreditadvantagesofstate-ownedlistedcompaniesandthephysicalplatformresourcesintheShuibeiareawherethejewelryindustrygathers,deeplypenetrateintotheindustrychainofjewelryindustry,andrapidlyincreasethereputationandindustryinfluenceofTellusinthejewelryindustry,acceleratetheimplementationofTellus’strategicprojects,andrealizeTellus’sgoalofstrategictransformationintoathird-partyintegratedoperationserviceproviderforthejewelryindustry.ShenzhenTellusTreasureSupplyChainTech.Co.,Ltd.wasestablishedin2019tocarryoutjewelrysupplychainbusiness,consolidatethird-partyjewelryservices,andcreateathird-partyvalue-addedserviceplatformforthejewelryindustrythatintegratespreciousmetalstorage,goldanddiamondsupplychainservicesandthird-partysafedepositboxes.ShenzhenJewelryIndustryServiceCo.,LTDwasestablishedin2020toprovidebondeddisplay,bondedwarehousing,customsdeclaration,logistics,settlementandotherservices,andfinallyitwillbebuiltintoacomprehensiveelementtradingserviceplatformwithinternationalinfluenceintegratingjewelryanddiamondrawmaterialsandfinishedproductsdisplay,spottrading,testing,identification,design,processing,e-commerce,financialservices,andinsurance.
(2)AbundantpropertyresourcesprovidestablebusinessincomeandfinancialsupportThecompanyisthelargestowneroftheTellusGmanGoldJewelryIndustrialParkintheShuibeiarea,TellusShuibeiJewelryBuildinghasbeenfullyputintouse,andtheconstructionprojectoftheTellusJinzhuanTradingBuildingisprogressingasplanned.Atthesametime,asthelargestownerofthe04and05plotsintheurbanrenewalunitplanningprojectofBuxinIndustrialZone,thecompanywillplanandconstructinnovativeindustrialprojectsinBuxinareathatconformtotheoverallstrategiclayoutofthecity,districtandtheCompanythroughrenovation.ThecompanywillmaintainitspositionasthelargestownerofShuibeiandBuxinareas,andgrasptheadvantagesofphysicalplatformresourcesinthecoreareaofthejewelryindustry.Inaddition,theCompanyhasalargeamountofpropertyresourcesinvariousdistrictsinShenzhen,onthebasisofmaintainingthestabilityoftheoriginalleasingbusiness,thecompanywillactivelypromotetheimprovementofpropertyqualityandtransformitsoldpropertiesfromthetraditionalmethodofsimpleleasingtothedirectionofpropertyassetoperation,soastofullyenhanceandtaptheaddedvalueofthepropertybrand,bringstablebusinessincomeandcashflowtothecompany,andprovideasolidfoundationforthecompany'slong-termdevelopment.
III.Mainbusinessanalysis
Seethe“I-MainbusinessesoftheCompanyinthereportingperiod”
Changeofmainfinancialdataonay-o-ybasis
InRMB
| Currentperiod | Sameperiodoflastyear | y-o-ychanges(+,-) | Reasons | |
| Operationrevenue | 249,492,261.24 | 197,051,790.29 | 26.61% | |
| Operationcosts | 173,313,253.96 | 154,774,587.52 | 11.98% | |
| Salesexpense | 12,002,312.02 | 6,776,144.54 | 77.13% | InJuly2020,theprojectofjewelrythird-partyservice |
| platformwasinoperation,theexpensesincreasedfromayearearlier | ||||
| Managementexpense | 20,807,474.69 | 17,202,000.61 | 20.96% | |
| Financialexpense | -404,559.89 | -2,202,150.55 | -81.63% | Theinterestexpensesincreasedduetothey-o-yincreaseofinterestonDongfengequityperformancebond |
| Incometaxexpense | 11,085,413.51 | 6,448,306.06 | 71.91% | Operationprofitincreased |
| R&Dinvestment | ||||
| Netcashflowarisingfromoperatingactivities | 59,571,399.02 | 17,306,322.20 | 244.22% | Inthesameperiodlastyear,thenetcashflowincreasedduetotherentreductionfortenantsandcorporateincometaxpaymentsinresponsetothegovernmentcalls. |
| Netcashflowarisingfrominvestmentactivities | 69,492,791.58 | -88,258,570.72 | Purchaseofthefinancialproductsdeclinedfromayearearlier | |
| Netcashflowarisingfromfinancingactivities | 20,549,625.24 | -24,778,202.09 | TheconstructionloansforJinzhuanTradingBuildingincreased | |
| Netincreaseofcashandcashequivalent | 149,597,036.39 | -95,730,362.19 |
Majorchangesonprofitcompositionorprofitresourcesinreportingperiod
□Applicable√NotapplicableNomajorchangesonprofitcompositionorprofitresourcesoccurredinreportingperiodConstitutionofoperationrevenue
InRMB
| Currentperiod | Sameperiodlastyear | y-o-ychanges(+,-) | |||
| Amount | Ratioinoperationrevenue | Amount | Ratioinoperationrevenue | ||
| Totaloperationrevenue | 249,492,261.24 | 100% | 197,051,790.29 | 100% | 26.61% |
| Accordingtoindustries | |||||
| Autosales | 95,643,935.09 | 38.34% | 98,797,491.83 | 50.14% | -3.19% |
| Autoinspectionandmaintenanceandaccessoriessales | 23,157,150.81 | 9.28% | 19,138,132.58 | 9.71% | 21.00% |
| Propertyrentalandservice | 99,013,183.37 | 39.69% | 62,152,861.68 | 31.54% | 59.31% |
| Jewelrywholesaleandretails | 31,677,991.97 | 12.70% | 16,963,304.20 | 8.61% | 86.74% |
| Accordingtoproducts | |||||
| Autosales | 95,643,935.09 | 38.34% | 98,797,491.83 | 50.14% | -3.19% |
| Autoinspectionandmaintenanceandaccessoriessales | 23,157,150.81 | 9.28% | 19,138,132.58 | 9.71% | 21.00% |
| Propertyrentalandservice | 99,013,183.37 | 39.69% | 62,152,861.68 | 31.54% | 59.31% |
| Jewelrywholesaleandretails | 31,677,991.97 | 12.70% | 16,963,304.20 | 8.61% | 86.74% |
| Accordingtoregion | |||||
| Shenzhen | 249,492,261.24 | 100.00% | 180,088,486.09 | 91.39% | 38.54% |
| Sichuan | 16,963,304.20 | 8.61% | -100.00% | ||
Abouttheindustries,products,orregionsaccountingforover10%oftheCompany’soperatingincomeoroperatingprofit
√Applicable□Notapplicable
InRMB
| Operatingrevenue | Operatingcost | Grossprofitratio | Increase/decreaseofoperatingrevenuey-o-y | Increase/decreaseofoperatingcosty-o-y | Increase/decreaseofgrossprofitratioy-o-y | |
| Industrybycustomers | ||||||
| Autosales | 95,643,935.09 | 94,251,556.02 | 1.46% | -3.19% | -2.01% | -1.18% |
| Autoinspectionandmaintenanceandaccessoriessales | 23,157,150.81 | 16,932,519.36 | 26.88% | 21.00% | 3.96% | 11.98% |
| Propertyrentalandservice | 99,013,183.37 | 29,934,849.03 | 69.77% | 59.31% | 13.87% | 12.07% |
| Jewelrywholesaleandretails | 31,677,991.97 | 32,194,329.55 | -1.63% | 86.74% | 101.08% | -7.25% |
| Accordingtoproducts | ||||||
| Autosales | 95,643,935.09 | 94,251,556.02 | 1.46% | -3.19% | -2.01% | -1.18% |
| Autoinspectionandmaintenanceandaccessoriessales | 23,157,150.81 | 16,932,519.36 | 26.88% | 21.00% | 3.96% | 11.98% |
| Propertyrentalandservice | 99,013,183.37 | 29,934,849.03 | 69.77% | 59.31% | 13.87% | 12.07% |
| Jewelrywholesaleandretails | 31,677,991.97 | 32,194,329.55 | -1.63% | 86.74% | 101.08% | -7.25% |
| Accordingtoregion | ||||||
| Shenzhen | 249,492,261.24 | 173,313,253.96 | 30.53% | 38.54% | 24.90% | 7.58% |
| Sichuan | -100.00% | -100.00% | -5.62% |
Constitutionofmainbusinesscost
InRMB
| Cost | Currentperiod | Sameperiodlastyear | y-o-ychanges(+,-) | ||
| Amount | Ratioinoperationcost | Amount | Ratioinoperationcost | ||
| Autosales | 94,251,556.02 | 54.38% | 96,189,360.80 | 62.15% | -2.01% |
| Autoinspectionandmaintenanceandaccessoriessales | 16,932,519.36 | 9.77% | 16,287,281.23 | 10.52% | 3.96% |
| Propertyrentalandservice | 29,934,849.03 | 17.27% | 26,287,572.04 | 16.98% | 13.87% |
| Jewelrywholesaleandretails | 32,194,329.55 | 18.58% | 16,010,373.45 | 10.34% | 101.08% |
Reasonsfory-o-yrelevantdatawithover30%changes
√Applicable□NotapplicableDuringthesameperiodlastyear,revenuesandcostsfromallindustriesareincreasedduetotheimpactofepidemic
IV.Analysisofnon-mainbusiness
√Applicable□Notapplicable
InRMB
| Amount | Ratiointotalprofit | Note | Whetherbesustainable(Y/N) | |
| Investmentincome | 14,395,758.68 | 25.90% | Investmentincomefromshareholdingenterprisesandfinancingincome | Y |
| Gain/lossoffairvaluechanges | -418,952.05 | -0.75% | Redeemtheunmaturedwealthmanagementincomeattheendof2020 | Y |
| Assetsimpairment | - | 0.00% | ||
| Non-operationrevenue | 72,884.60 | 0.13% | Incomefromtenantforfeitsleasedepositforearlywithdrawal | N |
| Non-operationexpenditure | 9,945.86 | 0.02% | N |
V.Analysisofassetsandliability
1.Majorchangesofassetscomposition
InRMB
| Period-end | Year-endoflastyear | Ratiochanges | Notesofmajorchanges | ||
| Amount | Ratioin | Amount | Ratioin | ||
| totalassets | totalassets | |||||
| Monetaryfund | 387,706,347.94 | 21.73% | 237,625,698.93 | 13.91% | 7.82% | Redemptionofthefinancialproductsatmaturity |
| Accountreceivable | 22,463,253.23 | 1.26% | 19,828,510.36 | 1.16% | 0.10% | |
| Contractassets | 0.00% | 0.00% | 0.00% | |||
| Inventory | 12,782,551.14 | 0.72% | 22,079,679.93 | 1.29% | -0.57% | |
| Investmentrealestate | 558,347,822.91 | 31.30% | 568,246,616.13 | 33.26% | -1.96% | |
| Long-termequityinvestment | 133,324,594.04 | 7.47% | 123,640,955.57 | 7.24% | 0.23% | |
| Fixassets | 115,624,967.86 | 6.48% | 119,136,917.91 | 6.97% | -0.49% | |
| Constructioninprocess | 135,900,468.42 | 7.62% | 101,740,485.48 | 5.96% | 1.66% | OperationoftheJinzhuanTradingBuildingConstruction |
| Right-of-useassets | 0.00% | 0.00% | 0.00% | |||
| Short-termloans | 0.00% | 0.00% | 0.00% | |||
| Contractliability | 8,322,128.79 | 0.47% | 18,988,628.13 | 1.11% | -0.64% | |
| Long-termloans | 40,886,819.43 | 2.29% | 11,171,759.33 | 0.65% | 1.64% | LoansofJinzhuanTradingBuildingConstructionincreased |
| Leaseliability | 0.00% | 0.00% | 0.00% | |||
| Tradingfinancialassets | 211,374,917.81 | 11.85% | 314,013,869.86 | 18.38% | -6.53% | Redemptionofthefinancialproductsatmaturity |
| Otheraccountpayable | 171,168,970.30 | 9.59% | 158,617,678.97 | 9.28% | 0.31% |
2.Mainforeignassets
□Applicable√Notapplicable
3.Assetsandliabilitymeasuredbyfairvalue
√Applicable□Notapplicable
InRMB
| Items | Openingamount | Changesoffairvaluegains/lossesinthisperiod | Accumulativechangesoffairvaluereckonedintoequity | ImpairmentaccrualinthePeriod | Amountofpurchaseintheperiod | Amountofsaleintheperiod | Otherchanges | Endingamount |
| Financialassets | ||||||||
| 1.Tradablefinancialassets(excludingderivativefinancialassets) | 314,013,869.86 | -418,952.05 | 794,280,000.00 | 896,500,000.00 | 211,374,917.81 | |||
| 4.Otherequity | 10,176,617.20 | 10,176,617.20 |
| instrumentsInvestment | ||||||||
| Subtotaloffinancialassets | 324,190,487.06 | -418,952.05 | 0.00 | 0.00 | 794,280,000.00 | 896,500,000.00 | 0.00 | 221,551,535.01 |
| Abovetotal | 324,190,487.06 | -418,952.05 | 0.00 | 0.00 | 794,280,000.00 | 896,500,000.00 | 0.00 | 221,551,535.01 |
| Financialliabilities | 0 | 0 |
ContentofotherchangesWhethertherehavemajorchangesonmeasurementattributesformainassetsoftheCompanyinreportperiodornot
□Yes√No
4.RightoftheassetsrestrainedtillendofthePeriod
| Item | Bookvalueatperiod-end | Restrictionreasons |
| Monetaryfund | 29,646,654.29 | （1） |
| Total | 29,646,654.29 |
(1)Endof30June2021,theCompany’srighttouseofcurrencyfundsunderrestrictionsis29,646,654.29Yuan,whichisthesupervisionfundpaidbytheCompanytoLuohuDistrictUrbanRenewalBureauofShenzhenforthelandplot03projectoftheupgradingprojectofTellus-GmanGoldJewelryIndustrialPark.Thecurrencyfundswithrestricteduserightsattheendoflastyearwere29,163,042.30Yuan.
VI.Investmentanalysis
1.Overallsituation
□Applicable√Notapplicable
2.Themajorequityinvestmentobtainedinthereportingperiod
□Applicable√Notapplicable
3.Majornon-equityinvestmentinprogressduringthereportingperiod
√Applicable□Notapplicable
InRMB
| ProjectName | InvestmentMethod | Investedwithfixedassets(Y/N) | IndustryinvolvedinInvestmentProjects | InvestmentAmountinthisReportingPeriod | ActualInvestmentAmountuptotheEndofReportingPeriod | CapitalSource | ProjectSchedule | AnticipatedIncome | RealizedIncomeuptotheEndofReportingPeriod | ReasonsfornotReachingthePlannedScheduleandAnticipatedIncome | Dateofdisclosure(ifapplicable) | Indexofdisclosure(ifapplicable) |
| TellusJinzhuanTradingBuilding | Self-built | Y | Urbanrenewalpilotproject-upgradingofthegoldjewelryindustry | 56,020,000.00 | 230,270,000.00 | Self-financingandbankloans | 0.00 | 0.00 | Notapplicable | 2019-5-28 | Notice(No.:2019-022)releasedonSecuritiesTimes,HongKongCommercialDailyandJuchao |
| park | Website | ||||||||||
| Total | -- | -- | -- | 56,020,000.00 | 230,270,000.00 | -- | -- | -- | -- | -- |
4.Financialassetsinvestment
(1)Securitiesinvestment
□Applicable√NotapplicableTheCompanyhadnosecuritiesinvestmentduringthereportingperiod
(2)Derivativeinvestment
□Applicable√NotapplicableTheCompanyhadnoderivativeinvestmentduringthereportingperiod
VII.Salesofmajorassetsandequity
1.Salesofmajorassets
□Applicable√NotapplicableTheCompanyhadnomajorassetsweresoldduringthereportingperiod
2.Salesofmajorequity
□Applicable√Notapplicable
VIII.AnalysisofmainholdingCompanyandstock-jointlycompanies
√Applicable□NotapplicableMainsubsidiaryandparticipatingcompanieswithanimpactof10%ormoreontheCompany’snetprofit
InRMB
| Companyname | Type | Mainbusiness | Registercapital | Totalassets | Netassets | Operatingrevenue | Operatingprofit | Netprofit |
| ShenzhenAutoIndustryandTradeCorporation | Subsidiary | Salesofautoandaccessories | RMB58.96million | 438,965,066.14 | 344,901,061.42 | 17,532,156.17 | 9,178,440.11 | 7,278,301.65 |
| ShenzhenSDGHuariAutoEnterpriseCo.,Ltd. | Subsidiary | Automaintenanceandproductionandsalesofaccessories | USD5million | 84,196,497.90 | 29,420,050.19 | 18,429,177.57 | 2,105,285.78 | 1,882,612.79 |
| ShenzhenZhongtianIndustrialCo,.Ltd. | Subsidiary | Propertyrental | RMB366.2219million | 645,596,902.91 | 440,165,324.98 | 46,690,623.37 | 29,494,441.24 | 22,288,546.88 |
| ShenzhenHuariToyotaAutomobile | Subsidiary | Autosales | RMB2million | 67,464,960.38 | 9,173,078.47 | 120,908,660.87 | -888,614.25 | -1,096,939.01 |
| SalesCo.Ltd | ||||||||
| ShenzhenXinyongtongAutoVehicleInspectionEquipmentCo.,Ltd. | Subsidiary | Manufactureofinspectionequipmentformotorvehicle | RMB19.61million | 16,063,802.97 | 10,287,355.18 | 3,368,661.10 | 1,582,955.22 | 1,499,659.70 |
| ShenzhenTellusXinyongtongAutomobileDevelopmentCo.Ltd | Subsidiary | Inspectionandrepairofmotorvehicle | RMB32.90million | 90,688,046.51 | 71,409,677.89 | 6,975,476.63 | 4,703,902.78 | 3,532,528.82 |
| SichuanTellusJewelryTech.Co.,Ltd. | Subsidiary | Jewelrysales | RMB150million | 156,076,699.99 | 155,792,338.08 | 984,868.92 | 789,971.75 | |
| ShenzhenTellusChuangyingTech.Co.,Ltd. | Subsidiary | Propertyrental | RMB14million | 17,115,413.65 | 13,684,587.56 | 2,223,046.46 | 883,084.24 | 883,084.24 |
| ShenzhenTellusTreasureSupplyChainTech.Co.,Ltd. | Subsidiary | Purchase,salesandleasingofgoldjewelryandpreciousmetalproducts,cofferleaseandwarehousingservices | RMB50million | 50,665,883.95 | 47,705,788.74 | 29399782.81 | -1,008,114.19 | -1,008,114.11 |
| ShenzhenJewelryIndustryServiceCo.,LTD | Subsidiary | Jewelleryfairplanning,jewelleryonconsignment,exhibition | RMB100million | 18,782,892.07 | 8,268,524.77 | 2278209.16 | -3,878,682.42 | -3,878,682.41 |
| planning,conferenceservicesandmarketingplanning | ||||||||
| ShenzhenZungFuTellusAutoServiceCo.,Ltd. | JointstockCompany | Carsalesandmaintenance | RMB30million | 237,105,117.23 | 117,591,239.03 | 638,056,465.79 | 22,940,368.99 | 21,570,821.49 |
| ShenzhenDongfengMotorCo.,Ltd. | JointstockCompany | Manufactureandmaintenanceofautomobile | RMB100million | 509,352,311.80 | 139,006,267.96 | 140,302,873.97 | -10,658,519.90 | -11,541,030.10 |
| ShenzhenTellusGmanInvestmentCo.,Ltd. | JointstockCompany | Investmentinindustry,propertymanagementandleasing | RMB123.70496million | 403,573,258.98 | 84,579,817.76 | 42,642,620.11 | 11,115,790.64 | 9,246,335.50 |
Particularaboutsubsidiariesobtainedordisposedinreportperiod
√Applicable□Notapplicable
| Name | WaytoobtainedanddisposeinthePeriod | Impactonoveralloperationandperformance |
| AnhuiTellusStarlightJewelryInvestmentCo.,Ltd. | Liquidation | NosignificantimpactonperformanceoftheCompany |
| AnhuiTellusStarlightJinzunJewelryCo.,Ltd. | Liquidation | |
| ShanghaiFanyueDiamondCo.,Ltd. | Newlyestablished |
IXStructuredvehiclecontrolledbytheCompany
□Applicable√Notapplicable
X.Risksandcountermeasures
(1)TheoveralleconomicenvironmenthasaseriousnegativeimpactoncompanyoperationsAffectedbytheepidemic,thejewelryindustryhasshownatrendofsharpdeclineinmarketdemand,abacklogofupstreamanddownstreaminventories,andadeclineincorporateperformance.Atthesametime,mostofthetransportationchannelsforvaluablesfromHongKongandotherregionsoutsidethecountrytoChinahavestagnated,whichhasseriouslyaffectedthecirculationandtransactionsofdiamondjewelry.Inresponsetothisrisk,thecompanywillactivelytakevariouspreventivemeasures.Thefirstistocontinuetostrengthenmanagement,improveefficiencythroughscientificmanagement,tappotentialandincreaserevenue,andcomprehensivelyimprovetheprofitabilityoftheoriginalbusiness;thesecond,sortoutthebusiness,reducethebusinessscaleofregionalplatformwithhighrisks,andinsistonmakingprogresswhilemaintainingstability;
thethirdistofirmlypromotethepaceofstrategictransformationofthecompany,promotethetransformationoftheprojectthroughinnovativebusinessmodels,expandtheincrementalmarket,expandthescaleofbusiness,lookfornewprofitgrowthpoints,andprovideagoodfoundationforthecompany’slong-termstabledevelopment.
(2)RisksbroughtbytransformingintonewareasInrecentyears,thecompanyhasfullypromotedthestrategicgoaloftransformingintoathird-partyintegratedoperationserviceproviderinthejewelryindustry,andmanytransformationprojectshavebeenimplementedandachievedgoodresults.However,intheprocessofdeeplycuttingintothejewelryindustry,thecompanyhasbecomemoreandmoreawareofthedifficultiesandrisksthatwillbefacedinthetransitiontoanewbusinessarea.Whetherwecanrealizetheinnovativeintegrationofthetraditionalcharacteristicsofjewelryindustryandthenewtechnologyandnewmodel,howtomeettheever-changingindividualizedanddiversifiedneedsofemergingconsumergroups,andhowtomakeapathofinnovativedevelopmentintheindustryenvironmentwithmorefiercecompetitioninmarketsegment,theseareallnewchallengesthatthecompanyneedstosolveurgentlyandputforwardhigherrequirementsforthecompany'sresourceintegrationcapabilities,projectmanagementcapabilitiesandprofessionaltalentreservesinthetransformationofbusinesslayout.Inresponsetothisrisk,ontheonehand,thecompanywillcontinuetostrengthenthetransformationconviction,inaccordancewiththeestablishedoveralldevelopmentstrategyandbusinessstrategy,fullydemonstrate,prudentlymakedecisions,carryoutfinemanagement,makemarket-orientedoperation,ensurethattransformationprojectsachievegoodinvestmentreturns,andactivelyrespondtomarketcompetition;ontheotherhand,thecompanywillsteadilypromotereformandinnovation,andwiththeopportunitytocompletethe“DoubleHundredActions”,exploreandimprovethecompany'slong-termincentivemechanism,mobilizetheenthusiasmofallemployees,improvethemanagementlevelandoperationalefficiencyoftheenterprise,andeffectivelyenhancethecorecompetitivenessoftheenterprise.
SectionIV.CorporateGovernance
I.AGMandextraordinarygeneralmeeting
1.AGMheldintheperiod
| Meeting | Type | Participationratioforinvestors | Holdingdate | Disclosuredate | Resolution |
| AnnualGeneralMeeting2020 | AGM | 63.60% | 2021-05-13 | 2021-05-14 | Deliberatedandapprovedthe“ReportoftheBODforyearof2020”,“ReportoftheBOSforyearof2020”,“AnnualReportof2020”and“SummaryofAnnualReport2020”(domesticandforeignversions),“ProfitDistributionPlanof2020”,“FinalAccountReportof2020”,“FinancialBudgetReport2021”,proposaltousetheidleownfundstopurchasebankfinancialproductsandproposaltoapplyforabankcreditlinein2021 |
2.Requestforextraordinarygeneralmeetingbypreferredstockholderswithrightstovote
□Applicable√NotapplicableII.Changesofdirectors,supervisorsandseniorexecutives
□Applicable√NotapplicableTherewerenochangesinthedirectors,supervisorsandseniorexecutivesoftheCompanyduringthereportingperiod,foundmoreintheAnnualReportof2020III.Profitdistributionplanandcapitalizingofcommonreservesintheperiod
□Applicable√NotapplicableTheCompanyplansnottodistributedcashdividendsandtherearenobonussharesandcapitalizingofcommonreserveseitherforthefirsthalfoftheyear.IV.ImplementationoftheCompany’sstockincentiveplan,employeestockownershipplanorotheremployeeincentives
□Applicable√NotapplicableDuringthereportingperiod,theCompanyhasnostockincentiveplan,employeestockownershipplanorotheremployeeincentivesthathavenotbeenimplemented.
SectionV.EnvironmentalandSocialResponsibility
I.Majorenvironmentalprotection
ListedCompanyanditssubsidiarybelongtothekeypollutionenterpriselistedbyDepartmentofEnvironmentalProtection
□Yes√No
II.SocialresponsibilityDuringthereportingperiod,theCompanydigeststheagriculturalandsidelineproductsinpoorareasbymeansofpurchaseinsteadofdonation,andopensupthesaleschannelsofagriculturalproductsbypromotingsupportwithconsumption,andtakesconcreteactionstopromotetheeconomicimprovementofpoorareaseffectively.
SectionVI.ImportantEvents
1.Commitmentsthattheactualcontroller,shareholders,relatedparty,buyersandtheCompanyhavefulfilledduringthereportingperiodandthosethathavebeenoverdueasoftheendofthereportingperiod?Applicable?Notapplicable
| Commitments | Commitmentparty | Typeofcommitments | Contentofcommitments | Commitmentdate | Commitmentterm | Implementation |
| Commitmentsmakeininitialpublicofferingorre-financing | ShenzhenTellusHoldingCo.,Ltd. | Other | ThecommitmentstothefulfillmentofinformationdisclosureabouttheCompanybusinessdevelopmentareasfollows:exceptfortheinformationhasbeendisclosedpublicly,theCompanyhasnothadthedisclosedinformationaboutassetacquisitionandbusinessdevelopmentthathasnotbeendisclosedwithinoneyear.Inthefuture,theCompanyshalltimely,accuratelyandadequatelydisclosetherelevantinformationaccordingtotheprogressofnewbusinessandtherelatedrequirements. | 2014-10-17 | Long-term | Implementing |
| Equityincentivecommitment | ||||||
| Othercommitmentsformediumandsmallshareholders | ShenzhenSpecialDevelopmentGroupCo.,Ltd. | HorizontalCompetition | Inordertoavoidthehorizontalcompetition,theCompany’scontrollingshareholder,ShenzhenSDGhasissuedthe“commitmentletterabouttheavoidanceofhorizontalcompetition”onMay26,2014.Thefullcommitmentletterisasfollows:1.TheCompanyandotherenterprisescontrolledbytheCompanyexceptTellusGrouphaven’toccupiedinanybusinessthatcouldsubstantiallycompetewiththemainbusinessesofTellusGroup,andhavenohorizontalcompetitionrelationshipwithTellusGroup. | 2014-05-26 | Long-term | Implementing |
| From2020to2022,theCompany’sprofitswillfirstbeusedtocoverthelossesofpreviousyears;aftermakingupforlossesofpreviousyears,inthepremisethattheCompany’sprofitsandcashflowcanmeettheCompany'snormaloperationsandlong-termdevelopment,rewardshareholders,theCompanywillimplementpositiveprofitdistributionapproachestorewardthe | 2020-04-02 | 2022-12-31 | Implementing |
| shouldfullyconsiderifthegeneralcapitalafterprofitdistributionbystockmatcheswiththeCompany’scurrentoperationscaleandprofitgrowthrateandconsidertheimpactonfuturefinancingsoastomakesuretheallocationplansmeettheoverallinterestsofallshareholders. | |||
| Completedontime(Y/N) | Y | ||
| Asforthecommitmentoutofthecommitmenttime,explainthespecificreasonsandfurtherplans | Notapplicable | ||
II.Non-operationalfundoccupationfromcontrollingshareholdersanditsrelatedparty
□Applicable√NotapplicableNonon-operationalfundoccupationfromcontrollingshareholdersanditsrelatedpartyinperiod.
III.Guaranteeoutsideagainsttheregulation
□Applicable√NotapplicableNoguaranteeoutsideagainsttheregulationinPeriod.
IV.Appointmentandnon-reappointment(dismissal)ofCPA
Whetherthesemi-annualfinancialreporthadbeenaudited
□Yes√NoThesemi-annualreportwasnotaudited
V.Explanationon“QualifiedOpinion”fromCPAbytheBoardandSupervisoryCommittee
□Applicable?Notapplicable
VI.ExplanationfromtheBoardfor“QualifiedOpinion”oflastyear’s
□Applicable?Notapplicable
VII.Bankruptcyreorganization
□Applicable?NotapplicableNobankruptcyreorganizationinPeriod.
VIII.Lawsuits
Materiallawsuitsandarbitration?NotapplicableOtherlawsuits
√Applicable□Notapplicable
| Thebasicsituationoflitigation | Amountofmoneyinvolved | Predictedliabilities(Y/N) | Advancesinlitigation | Theresultsandeffectsoflitigation(Arbitration) | Executionofthelitigation(Arbitration) |
| (Arbitration) | (in10thousandYuan) | (Arbitration) | |||
| LeasingContractdispute(ZhangNing) | 2.17 | N | Caseclosed | Settlementofthecase,therespondentreturnedthehouseandtheCompanywillnotchargetheuseofleasedpremisesfortheNovember2020 | Fulfillmentcompleted |
| Disputesoverguaranteerightsofrecovery(Jintian) | 60.6 | N | Enforcementstage | JintianCompanypaid325,000yuantoTellusGroupwithin5daysfromtheeffectivedateofthejudgment,anddelivered427604Asharesand163886BsharesofJintianGroup.JintianCompanydidnotfulfillitsrepaymentobligationsafterthejudgementcameintoeffect,TellusGroupappliedforanenforcement,buttheexecutionwasterminatedbecausetheJintianCompanyhasnopropertyavailableforexecution,thenTellusGroupproposedtoQianhaiCourttoturntheexecutionprocedureintobankruptcyapplication,QianhaiCourthastransferredthecasetoShenzhenIntermediatePeople'sCourt,therewasnoresultyet. | Propertynotyetexecuted |
| Housingleasecontractdispute(MaoZhexiang) | 17.5 | N | Inthesecondtrial | Thetrialhasbeenheldbutnoverdictyet | Notyetadjudicated |
IX.Penaltyandrectification
□Applicable?NotapplicableNopenaltyandrectificationfortheCompanyinreportingperiod.
X.IntegrityoftheCompanyanditscontrollingshareholdersandactualcontrollers
□Applicable?NotapplicableXI.Majorrelatedtransaction
1.Relatedtransactionwithroutineoperationconcerned
√Applicable□Notapplicable
| Relatedparty | Relationship | Typeofrelatedtransaction | Contentofrelatedtransaction | Pricingprinciple | Relatedtransactionprice | Relatedtransactionamount(in | Proportioninsimilartransa | Tradinglimitappro | Whetheroverthe | Clearingformforrelated | Availablesimilar | Dateofdisclosure | Indexofdisclosur |
| 10thousandYuan) | ctions(%) | ved(in10thousandYuan) | approvedlimitedornot(Y/N) | transaction | marketprice | e | |||||||
| ShenzhenZungFuTellusAutoServiceCo.,Ltd. | Director/Supervisor/SEservesdirectoroftheCompany | Routinerelatedtransactions | Providingpropertyleasing | Referencetomarketprice | 259.52 | 259.52 | 2.62% | 540 | N | Bycontractoragreement | 259.52 | ||
| ShenzhenSDGTellusPropertyManagementCo.,Ltd. | Subsidiaryofthecontrollingshareholder | Routinerelatedtransactions | Providingpropertyleasing | Referencetomarketprice | 2.30 | 2.30 | 0.02% | 14 | N | Bycontractoragreement | 2.30 | ||
| ShenzhenSDGPettyLoanCo.,Ltd. | Subsidiaryofthecontrollingshareholder | Routinerelatedtransactions | Providingpropertyleasingandmanagementservice | Referencetomarketprice | 49.51 | 49.51 | 0.50% | 140 | N | Bycontractoragreement | 49.51 | ||
| JewelryParkBranchofShenzhen | Sub-subsidiaryofcontrollingshareh | Routinerelatedtransactions | Providingpropertyleasing | Referencetomarketprice | 54.21 | 54.21 | 0.55% | 180 | N | Bycontractoragreement | 54.21 |
| SDGServiceCo.,Ltd. | older | ||||||||||||
| ShenzhenSDGEngineeringManagementCo.,Ltd | Subsidiaryofthecontrollingshareholder | Routinerelatedtransactions | Acceptengineeringsupervisionservice | Referencetomarketprice | 51.85 | 51.85 | 0.30% | 43 | N | Bycontractoragreement | 51.85 | ||
| JewelryParkBranchofShenzhenSDGServiceCo.,Ltd. | Sub-subsidiaryofcontrollingshareholder | Routinerelatedtransactions | Receiveserviceofcleaningandgreeningandrenovation | Referencetomarketprice | 41.28 | 41.28 | 3.44% | 36 | N | 41.28 | |||
| ShenzhenSDGTellusPropertyManagementCo.,Ltd. | Subsidiaryofthecontrollingshareholder | Routinerelatedtransactions | Acceptingpropertymanagementservice | Referencetomarketprice | 766.81 | 766.81 | 4.42% | 1,570 | N | Bycontractoragreement | 766.81 | ||
| Total | -- | -- | 1,225.48 | -- | 2,523 | -- | -- | -- | -- | -- | |||
| Detailofsalesreturnwithmajoramountinvolved | N/A | ||||||||||||
| Reporttheactualimplementationofthenormalrelatedtransactionswhichwereprojectedabouttheir | Performingnormally | ||||||||||||
| totalamountbytypesduringthereportingperiod(ifapplicable) | |
| Reasonsformajordifferencesbetweentradingpriceandmarketreferenceprice(ifapplicable) | Notapplicable |
2.Relatedtransactionsbyassetsacquisitionandsold
□Applicable√NotapplicableNorelatedtransactionsbyassetsacquisitionandsoldfortheCompanyinreportingperiod
3.Mainrelatedtransactionsofmutualinvestmentoutside
□Applicable√NotapplicableNomainrelatedtransactionsofmutualinvestmentoutsidefortheCompanyinreportingperiod
4.Contactofrelatedcreditanddebt?Applicable□NotapplicableWhetherhasnon-operationalcontactofcreditanddebtsornot
√Yes□NoDebtspayabletorelatedparty:
| Relatedparty | Relationship | Causes | Balanceatperiod-begin(10thousandYuan) | Currentnewlyadded(10thousandYuan) | Currentrecovery(10thousandYuan) | Interestrate | Currentinterest(10thousandYuan) | Balanceatperiod-end(10thousandYuan) |
| ShenzhenSpecialDevelopmentGroupCo.,Ltd. | Controllingshareholder | LoansinterestsofHuariCompany | 1,743 | 1 | 1,742 | |||
| Impactonoperationresultsandfinancialstatus | Debtshave10,000yuandeclinedintheperiod | |||||||
5.ContactwiththerelatedfinancecompaniesandfinancecompaniesthatcontrolledbytheCompany
□Applicable√NotapplicableTherearenodeposits,loans,creditsorotherfinancialbusinessbetweentheCompanyandthefinancecompanieswithrelatedrelationshipsorbetweenthefinancecompaniescontrolledbytheCompanyandrelatedparties
6.Otherrelatedtransactions
□Applicable√NotapplicableNootherrelatedtransactioninPeriod
XII.Significantcontractandimplementations
1.Trusteeship,contractandleasing
(1)Trusteeship
□Applicable√NotapplicableNotrusteeshipfortheCompanyinreportingperiod
(2)Contract
□Applicable√NotapplicableNocontractfortheCompanyinreportingperiod
(3)Leasing
□Applicable√NotapplicableNoleasingfortheCompanyinreportingperiod
2.Majorguarantees
√Applicable□Notapplicable
In10thousandYuan
| ParticularsabouttheexternalguaranteeoftheCompanyanditssubsidiary(Barringtheguaranteeforsubsidiaries) | ||||||||||
| NameoftheCompanyguaranteed | RelatedAnnouncementdisclosuredate | Guaranteelimit | Actualdateofhappening | Actualguaranteelimit | Guaranteetype | Collateral(ifany) | Counterguarantee(ifany) | Guaranteeterm | Implemented(Y/N) | Guaranteeforrelatedparty(Y/N) |
| ShenzhenZungFuTellusAutoServiceCo.,Ltd. | 2014-09-30 | 3,500 | 2007-04-17 | 3,500 | Pledge | Totheexpiredateofjointventurecontract | Nn | Y | ||
| Totalapprovingexternalguaranteeinreportperiod(A1) | 0 | Totalactualoccurredexternalguaranteeinreportperiod(A2) | 3,500 | |||||||
| Totalapprovedexternalguaranteeattheendofreportperiod(A3) | 3,500 | Totalactualbalanceofexternalguaranteeattheendofreportperiod(A4) | 3,500 | |||||||
| GuaranteeoftheCompanytosubsidiaries | ||||||||||
| NameoftheCompanyguaranteed | RelatedAnnouncementdisclosuredate | Guaranteelimit | Actualdateofhappening | Actualguaranteelimit | Guaranteetype | Collateral(ifany) | Counterguarantee(ifany) | Guaranteeterm | Implemented(Y/N) | Guaranteeforrelatedparty(Y/N) |
| Totalamountofapprovingguaranteeforsubsidiariesinreportperiod(B1) | 0 | Totalamountofactualoccurredguaranteeforsubsidiariesinreportperiod(B2) | 0 | |||||||
| Totalamountofapprovedguaranteeforsubsidiariesattheendofreportingperiod(B3) | 0 | Totalbalanceofactualguaranteeforsubsidiariesattheendofreportingperiod(B4) | 0 | |||||||
| Guaranteeofthesubsidiariestosubsidiaries | ||||||||||
| NameoftheCompanyguaranteed | RelatedAnnouncementdisclosuredate | Guaranteelimit | Actualdateofhappening | Actualguaranteelimit | Guaranteetype | Collateral(ifany) | Counterguarantee(ifany) | Guaranteeterm | Implemented(Y/N) | Guaranteeforrelatedparty(Y/N) | |
| Totalamountofapprovingguaranteeforsubsidiariesinreportperiod(C1) | 0 | Totalamountofactualoccurredguaranteeforsubsidiariesinreportperiod(C2) | 0 | ||||||||
| Totalamountofapprovedguaranteeforsubsidiariesattheendofreportingperiod(C3) | 0 | Totalbalanceofactualguaranteeforsubsidiariesattheendofreportingperiod(C4) | 0 | ||||||||
| TotalamountofguaranteeoftheCompany(totalofthreeabovementionedguarantee) | |||||||||||
| Totalamountofapprovingguaranteeinreportperiod(A1+B1+C1) | 0 | Totalamountofactualoccurredguaranteeinreportperiod(A2+B2+C2) | 3,500 | ||||||||
| Totalamountofapprovedguaranteeattheendofreportperiod(A3+B3+C3) | 3,500 | Totalbalanceofactualguaranteeattheendofreportperiod(A4+B4+C4) | 3,500 | ||||||||
| TheproportionofthetotalamountofactuallyguaranteeinthenetassetsoftheCompany(thatisA4+B4+C4) | 2.60% | ||||||||||
| Including: | |||||||||||
| Amountofguaranteeforshareholders,actualcontrolleranditsrelatedparties(D) | 0 | ||||||||||
| Thedebtsguaranteeamountprovidedfortheguaranteedpartieswhoseassets-liabilityratioexceed70%directlyorindirectly(E) | 0 | ||||||||||
| ProportionoftotalamountofguaranteeinnetassetsoftheCompanyexceed50%(F) | 0 | ||||||||||
| Totalamountoftheaforesaidthreeguarantees(D+E+F) | 0 | ||||||||||
| Foranunexpiredguaranteecontract,explanationontheguaranteeliabilityhasbeenincurredduringthereportingperiodorthereisevidenceofthepossibilityofjointandseveralliabilityforpayment(ifapplicable) | N/A | ||||||||||
| Explanationsonexternalguaranteeagainstregulatedprocedures(ifapplicable) | N/A | ||||||||||
WhethertheCompanyprovidesguaranteeorfinancialsupportforitsdistributors
□Yes?No
3.Trustfinancing
√Applicable□Notapplicable
In10thousandYuan
| Type | Capitalresources | Amountforentrust | Outstandingbalance | Amountoverdueforcollection | Impairmentfortheoverduefinancialmanagement |
| Bankfinancingproduct | Ownfunds | 72,480.00 | 21,100.00 | ||
| Total | 72,480.00 | 21,100.00 | |||
Detailsofthesinglemajoramount,orhigh-risktrustinvestmentwithlowsecurity,poorfluidityandnon-guaranteed
□Applicable√NotapplicableEntrustfinancialexpectedtobeunabletorecovertheprincipalorimpairmentmightbeoccurred
□Applicable√Notapplicable
4.Significantcontractsfordailyoperation
□Applicable√Notapplicable
5.Othermaterialcontracts
□Applicable√NotapplicableNoothermaterialcontractsfortheCompanyinreportingperiod.
XIII.Descriptionofothersignificantmatters
?Applicable√NotapplicableThecompanyhadnoothersignificantmattersthatneedsdescriptioninthereportingperiod.
XIV.Importanteventofthesubsidiaries
√Applicable□NotapplicableLiquidationofthewholly-ownedsubsidiaryAnhuiTellusStarlightJewelryInvestmentCo.,Ltd.andAnhuiTellusStarlightJinzunJewelryCo.,Ltdwerecompletedduringtheyear.
SectionVII.ChangesinSharesandParticularsaboutShareholdersI.ChangesinShareCapital
1.ChangesinShareCapital
Reasonsforsharechanged
□Applicable√NotapplicableApprovalofsharechanged
□Applicable√NotapplicableOwnershiptransferofsharechanged
□Applicable√NotapplicableProgressofsharesbuy-back
□Applicable√NotapplicableImplementationprogressofreducingholdingsofsharesbuy-backbycentralizedbidding
□Applicable√NotapplicableInfluenceonthebasicEPSanddilutedEPSaswellasotherfinancialindexesofnetassetspershareattributabletocommonshareholdersofCompanyinlatestyearandperiod
□Applicable√NotapplicableOtherinformationnecessarytodiscloseorneedtodisclosedunderrequirementfromsecurityregulators
□Applicable√Notapplicable
2.Changesoflock-upstocks
□Applicable√Notapplicable
II.Securitiesissuanceandlisting
□Applicable√Notapplicable
III.AmountofshareholdersoftheCompanyandparticularsaboutsharesholding
InShare
| Totalcommonstockshareholdersinreportingperiod-end | 46,964 | Totalpreferenceshareholderswithvotingrightsrecoveredatendofreportingperiod(ifapplicable)（seenote8） | 0 | |||||||
| Particularsaboutcommonsharesheldabove5%byshareholdersortoptencommonshareholders | ||||||||||
| FullnameofShareholders | Natureofshareholder | Proportionofsharesheld | Amountofcommonsharesheldattheendofreportingperiod | Changesinreportperiod | Amountofrestrictedcommonsharesheld | Amountofcommonsharesheldwithoutrestriction | Informationofsharespledged,taggedorfrozen | |||
| Stateofshare | Amount | |||||||||
| Shenzhen | State-owned | 49.09% | 211,591 | 0 | 0 | 211,591,6 | 0 | |||
| SpecialDevelopmentGroupCo.,Ltd. | corporation | ,621 | 21 | |||||
| ShenzhenCapitalFortuneJewelryIndustryInvestmentEnterprise(LP) | Domesticnonstate-ownedcorporate | 13.81% | 59,515,157 | -4,140,215 | 0 | 59,515,157 | 0 | |
| GUOTAIJUNANSECURITIES(HONGKONG)LIMITED | Foreigncorporation | 0.40% | 1,736,091 | 0 | 0 | 1,736,091 | 0 | |
| HongKongSecuritiesClearingCompanyLtd. | Foreigncorporation | 0.38% | 1,618,925 | +464,020 | 0 | 1,618,925 | 0 | |
| #ShanghaiYingshuiInvestmentManagementCo.,Ltd.-YingshuiDongfengNo.3-PrivateEquityInvestmentFund | Other | 0.13% | 566,487 | 0 | 0 | 566,487 | 0 | |
| #LinRongtao | Domesticnatureperson | 0.12% | 538,780 | +538,780 | 0 | 538,780 | 0 | |
| #XiaoQiaoyue | Domesticnatureperson | 0.12% | 523,060 | +523,060 | 0 | 523,060 | 0 | |
| LiGuangxin | Domesticnatureperson | 0.11% | 477,181 | +477,181 | 0 | 477,181 | 0 | |
| YaoZhenming | Domesticnatureperson | 0.11% | 475,200 | 0 | 0 | 475,200 | 0 | |
| #YangJianfeng | Domesticnatureperson | 0.11% | 471,400 | -32,800 | 0 | 471,400 | 0 | |
| Strategyinvestororgenerallegal | Notapplicable | |||||||
| personbecomingthetop10commonshareholdersbyplacingnewshares(ifapplicable)(seenote3) | |||
| Explanationonassociatedrelationshipamongtheaforesaidshareholders | Amongthetoptenshareholders,thereexistsnoassociatedrelationshipbetweenthestate-ownedlegalperson’sshareholdersSDG,Ltdandothershareholders,andtheydonotbelongtothepersonsactinginconcertregulatedbytheManagementMeasureofInformationDisclosureonChangeofShareholdingforListedCompanies.Fortheothershareholdersofcirculationshare,theCompanyisunknownwhethertheybelongtothepersonsactinginconcert. | ||
| Descriptionoftheaboveshareholdersinrelationtodelegate/entrustedvotingrightsandabstentionfromvotingrights. | Notapplicable | ||
| Specialnoteontherepurchaseaccountamongthetop10shareholders(ifapplicable)(seenote11) | Notapplicable | ||
| Particularabouttoptenshareholderswithun-lockupcommonstocksheld | |||
| Shareholders’name | AmountofcommonsharesheldwithoutrestrictionatPeriod-end | Typeofshares | |
| Type | Amount | ||
| ShenzhenSpecialDevelopmentGroupCo.,Ltd. | 211,591,621 | RMBcommonshares | 211,591,621 |
| ShenzhenCapitalFortuneJewelryIndustryInvestmentEnterprise(LP) | 59,515,157 | RMBcommonshares | 59,515,157 |
| GUOTAIJUNANSECURITIES(HONGKONG)LIMITED | 1,736,091 | Domesticallylistedforeignshares | 1,736,091 |
| HongKongSecuritiesClearingCompanyLtd. | 1,618,925 | RMBcommonshares | 1,618,925 |
| ShanghaiYingshuiInvestmentManagementCo.,Ltd.-YingshuiDongfengNo.3-PrivateEquityInvestmentFund | 566,487 | RMBcommonshares | 566,487 |
| LinRongtao | 538,780 | RMBcommonshares | 538,780 |
| XiaoQiaoyue | 523,060 | RMBcommonshares | 523,060 |
| LiGuangxin | 477,181 | Domesticallylistedforeignshares | 477,181 |
| YaoZhenming | 475,200 | RMBcommonshares | 475,200 |
| YangJianfeng | 471,400 | RMBcommonshares | 471,400 |
| Expiationonassociatedrelationshiporconsistentactorswithinthetop10un-lockupcommonshareholdersandbetweentop10un-lockupcommonshareholdersandtop10commonshareholders | Amongthetoptenshareholders,thereexistsnoassociatedrelationshipbetweenthestate-ownedlegalperson’sshareholdersSDG,Ltdandothershareholders,andtheydonotbelongtothepersonsactinginconcertregulatedbytheManagementMeasureofInformationDisclosureonChangeofShareholdingforListedCompanies.Fortheothershareholdersofcirculationshare,theCompanyisunknownwhethertheybelongtothepersonsactinginconcert. | ||
| Explanationontop10commonshareholdersinvolvingmarginbusiness(ifapplicable)(seenote4) | TheshareholderShanghaiYingshuiInvestmentManagementCo.,Ltd.-YingshuiDongfengNo.3-PrivateEquityInvestmentFundholds566,487sharesofthecompany'sstockthroughacredittransactionguaranteesecuritiesaccount,and0sharesofthecompany'sstockthroughanordinarysecuritiesaccount;TheshareholderLinRongtaoholds475,260sharesofthecompany'sstockthroughacredittransactionguaranteesecuritiesaccount,and63,520sharesofthecompany'sstockthroughanordinarysecuritiesaccount;TheshareholderXiaoQiaoyueholds393,560sharesofthecompany'sstockthroughacredittransactionguaranteesecuritiesaccount,and129,500sharesofthecompany'sstockthroughanordinarysecuritiesaccount;TheshareholderYangJianfengholds339,300sharesofthecompany'sstockthroughacredittransactionguaranteesecuritiesaccount,and132,100sharesofthecompany'sstockthroughanordinarysecuritiesaccount,foratotalof1,774,607shares. | ||
Whethertoptencommonstockshareholdersortoptencommonstockshareholderswithun-lockupsharesheldhaveabuy-backagreementdealinginreportingperiod
□Yes√NoThetoptencommonstockshareholdersortoptencommonstockshareholderswithun-lockupsharesheldoftheCompanyhavenobuy-backagreementdealinginreportingperiod.IV.Changesofsharesheldbydirectors,supervisorsandseniorexecutives
□Applicable√NotapplicableSharesheldbydirectors,supervisorsandseniorexecutiveshavenochangesinreportingperiod,foundmoredetailsinAnnualReport2020.V.Changesincontrollingshareholdersoractualcontrollers
Changeofcontrollingshareholderduringthereportingperiod
□Applicable√NotapplicableChangeofactualcontrollerduringthereportingperiod
□Applicable√NotapplicableTheCompanyhadnochangeofactualcontrollerduringthereportingperiod
SectionVIII.PreferredStock
□Applicable√NotapplicableTheCompanyhadnopreferredstockinthePeriod.
SectionIX.CorporateBonds
□Applicable√Notapplicable
SectionX.FinancialReport
I.Auditreport
Whetherthesemiannualreportisaudited
□Yes√NoThecompany'ssemiannualfinancialreporthasnotbeenauditedII.FinancialStatementStatementinFinancialNotesarecarriedinRMB/CNY
1.ConsolidatedBalanceSheet
PreparedbyShenzhenTellusHoldingCo.,Ltd.
InRMB
| Item | June30,2021 | December31,2020 |
| Currentassets: | ||
| Monetaryfunds | 387,706,347.94 | 237,625,698.93 |
| Settlementprovisions | ||
| Capitallent | ||
| Tradingfinancialassets | 211,374,917.81 | 314,013,869.86 |
| Derivativefinancialassets | ||
| Notereceivable | ||
| Accountreceivable | 22,463,253.23 | 19,828,510.36 |
| Receivablefinancing | ||
| Accountspaidinadvance | 11,415,380.88 | 9,847,749.74 |
| Insurancereceivable | ||
| Reinsurancereceivables | ||
| Contractreserveofreinsurancereceivable | ||
| Otheraccountreceivable | 31,608,617.41 | 29,269,790.83 |
| Including:Interestreceivable | ||
| Dividendreceivable | 24,647,732.42 | 24,647,732.42 |
| Buyingbackthesaleoffinancialassets | ||
| Inventories | 12,782,551.14 | 22,079,679.93 |
| Contractualassets | ||
| Assetsheldforsale | ||
| Non-currentassetduewithinoneyear | ||
| Othercurrentassets | 4,379,772.91 | 6,000,566.69 |
| Totalcurrentassets | 681,730,841.32 | 638,665,866.34 |
| Non-currentassets: | ||
| Loansandpaymentsonbehalf | ||
| Debtinvestment | ||
| Otherdebtinvestment |
| Long-termaccountreceivable | ||
| Long-termequityinvestment | 133,324,594.04 | 123,640,955.57 |
| Investmentinotherequityinstrument | 10,176,617.20 | 10,176,617.20 |
| Othernon-currentfinancialassets | ||
| Investmentrealestate | 558,347,822.91 | 568,246,616.13 |
| Fixedassets | 115,624,967.86 | 119,136,917.91 |
| Constructioninprogress | 135,900,468.42 | 101,740,485.48 |
| Productivebiologicalasset | ||
| Oilandgasasset | ||
| Right-of-useassets | ||
| Intangibleassets | 50,910,957.73 | 51,627,673.21 |
| ExpenseonResearchandDevelopment | ||
| Goodwill | ||
| Long-termexpensestobeapportioned | 31,366,000.92 | 30,714,879.22 |
| Deferredincometaxasset | 8,479,351.00 | 8,498,822.10 |
| Othernon-currentasset | 58,264,427.76 | 55,993,467.99 |
| Totalnon-currentasset | 1,102,395,207.84 | 1,069,776,434.81 |
| Totalassets | 1,784,126,049.16 | 1,708,442,301.15 |
| Currentliabilities: | ||
| Short-termloans | ||
| Loanfromcentralbank | ||
| Capitalborrowed | ||
| Tradingfinancialliability | ||
| Derivativefinancialliability | ||
| Notepayable | ||
| Accountpayable | 78,222,681.88 | 76,583,166.53 |
| Accountsreceivedinadvance | 1,799,359.80 | 2,403,580.47 |
| Contractualliability | 8,322,128.79 | 18,988,628.13 |
| Sellingfinancialassetofrepurchase | ||
| Absorbingdepositandinterbankdeposit | ||
| Securitytradingofagency | ||
| Securitysalesofagency | ||
| Wagepayable | 33,296,017.64 | 28,365,685.21 |
| Taxespayable | 20,576,507.89 | 21,062,154.32 |
| Otheraccountpayable | 171,255,364.09 | 158,663,974.62 |
| Including:Interestpayable | 40,098.14 | |
| Dividendpayable | 46,295.65 | 46,295.65 |
| Commissionchargeandcommissionpayable | ||
| Reinsurancepayable | ||
| Liabilityheldforsale | ||
| Non-currentliabilitiesduewithinoneyear | ||
| Othercurrentliabilities | 434,069.37 | 2,237,573.19 |
| Totalcurrentliabilities | 313,906,129.46 | 308,304,762.47 |
| Non-currentliabilities: | ||
| Insurancecontractreserve | ||
| Long-termloans | 40,886,819.43 | 11,171,759.33 |
| Bondspayable | ||
| Including:Preferredstock | ||
| Perpetualcapitalsecurities | ||
| Leaseliability | ||
| Long-termaccountpayable | 3,920,160.36 | 3,920,160.36 |
| Long-termwagespayable | ||
| Accrualliability | 268,414.80 | 268,414.80 |
| Deferredincome | 4,672,272.59 | 131,102.38 |
| Deferredincometaxliabilities | ||
| Othernon-currentliabilities | ||
| Totalnon-currentliabilities | 49,747,667.18 | 15,491,436.87 |
| Totalliabilities | 363,653,796.64 | 323,796,199.34 |
| Owner’sequity: | ||
| Sharecapital | 431,058,320.00 | 431,058,320.00 |
| Otherequityinstrument | ||
| Including:Preferredstock | ||
| Perpetualcapitalsecurities | ||
| Capitalpublicreserve | 431,449,554.51 | 431,449,554.51 |
| Less:Inventoryshares | ||
| Othercomprehensiveincome | 26,422.00 | 26,422.00 |
| Reasonablereserve | ||
| Surpluspublicreserve | 23,848,485.62 | 23,848,485.62 |
| Provisionofgeneralrisk | ||
| Retainedprofit | 460,063,442.26 | 424,141,893.34 |
| Totalowner’sequityattributabletoparentcompany | 1,346,446,224.39 | 1,310,524,675.47 |
| Minorityinterests | 74,026,028.13 | 74,121,426.34 |
| Totalowner’sequity | 1,420,472,252.52 | 1,384,646,101.81 |
| Totalliabilitiesandowner’sequity | 1,784,126,049.16 | 1,708,442,301.15 |
LegalRepresentative:FuChunlongPersoninchargeofAccountingWorks:LouHongPersoninchargeofAccountingInstitution:LiaoZebin
2.BalanceSheetofParentCompany
InRMB
| Item | June30,2021 | December31,2020 |
| Currentassets: | ||
| Monetaryfunds | 78,459,033.08 | 71,772,303.28 |
| Tradingfinancialassets | 187,374,917.81 | 118,484,941.09 |
| Derivativefinancialassets | ||
| Notereceivable | ||
| Accountreceivable | 2,352,571.12 | 249,428.20 |
| Receivablefinancing | ||
| Accountspaidinadvance | - | - |
| Otheraccountreceivable | 81,508,454.04 | 126,970,097.13 |
| Including:Interestreceivable | ||
| Dividendreceivable | 547,184.35 | 547,184.35 |
| Inventories | ||
| Contractualassets | ||
| Assetsheldforsale | ||
| Non-currentassetsmaturingwithinoneyear | ||
| Othercurrentassets | - | - |
| Totalcurrentassets | 349,694,976.05 | 317,476,769.70 |
| Non-currentassets: | ||
| Debtinvestment | ||
| Otherdebtinvestment | ||
| Long-termreceivables | ||
| Long-termequityinvestments | 889,294,940.30 | 876,760,784.88 |
| Investmentinotherequityinstrument | 10,176,617.20 | 10,176,617.20 |
| Othernon-currentfinancialassets | ||
| Investmentrealestate | 30,691,201.66 | 31,971,205.42 |
| Fixedassets | 18,345,195.46 | 19,082,604.22 |
| Constructioninprogress | 134,405,642.66 | 100,252,309.72 |
| Productivebiologicalassets | ||
| Oilandnaturalgasassets | ||
| Right-of-useassets | ||
| Intangibleassets | 49,477,355.44 | 50,135,951.98 |
| Researchanddevelopmentcosts | ||
| Goodwill | ||
| Long-termdeferredexpenses | 9,024,144.19 | 8,786,280.69 |
| Deferredincometaxassets | 3,378,237.65 | 3,397,708.75 |
| Othernon-currentassets | 30,879,227.76 | 27,427,939.18 |
| Totalnon-currentassets | 1,175,672,562.32 | 1,127,991,402.04 |
| Totalassets | 1,525,367,538.37 | 1,445,468,171.74 |
| Currentliabilities: | ||
| Short-termborrowings | ||
| Tradingfinancialliability | ||
| Derivativefinancialliability | ||
| Notespayable | ||
| Accountpayable | 239,126.06 | 267,841.07 |
| Accountsreceivedinadvance | 405,837.22 | 682,934.41 |
| Contractualliability | ||
| Wagepayable | 20,083,061.30 | 15,784,381.93 |
| Taxespayable | 1,922,599.19 | 1,123,476.72 |
| Otheraccountspayable | 387,367,692.32 | 345,894,297.23 |
| Including:Interestpayable | 40,098.14 | - |
| Dividendpayable | ||
| Liabilityheldforsale | ||
| Non-currentliabilitiesduewithinoneyear | ||
| Othercurrentliabilities | ||
| Totalcurrentliabilities | 410,018,316.09 | 363,752,931.36 |
| Non-currentliabilities: | ||
| Long-termloans | 40,886,819.43 | 11,171,759.33 |
| Bondspayable | ||
| Including:Preferredstock | ||
| Perpetualcapitalsecurities | ||
| Leaseliability | ||
| Long-termaccountpayable | ||
| Longtermemployeecompensationpayable | ||
| Accruedliabilities | ||
| Deferredincome | ||
| Deferredincometaxliabilities | ||
| Othernon-currentliabilities | ||
| Totalnon-currentliabilities | 40,886,819.43 | 11,171,759.33 |
| Totalliabilities | 450,905,135.52 | 374,924,690.69 |
| Owners’equity: | ||
| Sharecapital | 431,058,320.00 | 431,058,320.00 |
| Otherequityinstrument | ||
| Including:Preferredstock | ||
| Perpetualcapitalsecurities | ||
| Capitalpublicreserve | 428,256,131.23 | 428,256,131.23 |
| Less:Inventoryshares | ||
| Othercomprehensiveincome | ||
| Specialreserve | ||
| Surplusreserve | 23,848,485.62 | 23,848,485.62 |
| Retainedprofit | 191,299,466.00 | 187,380,544.20 |
| Totalowner’sequity | 1,074,462,402.85 | 1,070,543,481.05 |
| Totalliabilitiesandowner’sequity | 1,525,367,538.37 | 1,445,468,171.74 |
3.ConsolidatedProfitStatement
InRMB
| Item | 2021semi-annual | 2020semi-annual |
| I.Totaloperatingincome | 249,492,261.24 | 197,051,790.29 |
| Including:Operatingincome | 249,492,261.24 | 197,051,790.29 |
| Interestincome | ||
| Insurancegained | ||
| Commissionchargeandcommissionincome | ||
| II.Totaloperatingcost | 208,332,636.82 | 177,927,309.69 |
| Including:Operatingcost | 173,313,253.96 | 154,774,587.52 |
| Interestexpense | ||
| Commissionchargeandcommissionexpense | ||
| Cashsurrendervalue | ||
| Netamountofexpenseofcompensation | ||
| Netamountofwithdrawalofinsurancecontractreserve | ||
| Bonusexpenseofguaranteeslip | ||
| Reinsuranceexpense | ||
| Taxandextras | 2,614,156.04 | 1,376,727.57 |
| Salesexpense | 12,002,312.02 | 6,776,144.54 |
| Administrativeexpense | 20,807,474.69 | 17,202,000.61 |
| R&Dexpense | ||
| Financialexpense | -404,559.89 | -2,202,150.55 |
| Including:Interestexpenses | 1,200,000.00 | 46,986.20 |
| Interestincome | 1,719,072.96 | 2,453,494.99 |
| Add:Otherincome | 326,420.16 | 52,846.70 |
| Investmentincome(Lossislistedwith“-”) | 14,395,758.68 | 12,881,490.50 |
| Including:Investmentincomeonaffiliatedcompanyandjointventure | 9,683,638.47 | 8,521,866.84 |
| Theterminationofincomerecognitionforfinancialassetsmeasuredbyamortizedcost | ||
| Exchangeincome(Lossislistedwith“-”) | ||
| Netexposurehedgingincome(Lossislistedwith“-”) | ||
| Incomefromchangeoffairvalue(Lossislistedwith“-”) | -418,952.05 | -356,102.35 |
| Lossofcreditimpairment(Lossislistedwith“-”) | - | 599,201.43 |
| Lossesofdevaluationofasset(Lossislistedwith“-”) | - | - |
| Incomefromassetsdisposal(Lossislistedwith“-”) | 56,242.77 | - |
| III.Operatingprofit(Lossislistedwith“-”) | 55,519,093.98 | 32,301,916.88 |
| Add:Non-operatingincome | 72,884.60 | 946,106.92 |
| Less:Non-operatingexpense | 9,945.86 | 29,059.48 |
| IV.Totalprofit(Lossislistedwith“-”) | 55,582,032.72 | 33,218,964.32 |
| Less:Incometaxexpense | 11,085,413.51 | 6,448,306.06 |
| V.Netprofit(Netlossislistedwith“-”) | 44,496,619.21 | 26,770,658.26 |
| (i)Classifybybusinesscontinuity | ||
| 1.continuousoperatingnetprofit(netlosslistedwith‘-”) | 44,496,619.21 | 26,770,658.26 |
| 2.terminationofnetprofit(netlosslistedwith‘-”) | ||
| (ii)Classifybyownership | ||
| 1.Netprofitattributabletoowner’sofparentcompany | 44,542,715.32 | 25,594,985.78 |
| 2.Minorityshareholders’gainsandlosses | -46,096.11 | 1,175,672.48 |
| VI.Netafter-taxofothercomprehensiveincome | ||
| Netafter-taxofothercomprehensiveincomeattributabletoownersofparentcompany |
| (I)Othercomprehensiveincomeitemswhichwillnotbereclassifiedsubsequentlytoprofitofloss | ||
| 1.Changesofthedefinedbenefitplansthatre-measured | ||
| 2.Othercomprehensiveincomeunderequitymethodthatcannotbetransfertogain/loss | ||
| 3.Changeoffairvalueofinvestmentinotherequityinstrument | ||
| 4.Fairvaluechangeofenterprise'screditrisk | ||
| 5.Other | ||
| (ii)Othercomprehensiveincomeitemswhichwillbereclassifiedsubsequentlytoprofitorloss | ||
| 1.Othercomprehensiveincomeunderequitymethodthatcantransfertogain/loss | ||
| 2.Changeoffairvalueofotherdebtinvestment | ||
| 3.Amountoffinancialassetsre-classifytoothercomprehensiveincome | ||
| 4.Creditimpairmentprovisionforotherdebtinvestment | ||
| 5.Cashflowhedgingreserve | ||
| 6.Translationdifferencesarisingontranslationofforeigncurrencyfinancialstatements | ||
| 7.Other | ||
| Netafter-taxofothercomprehensiveincomeattributabletominorityshareholders | ||
| VII.Totalcomprehensiveincome | 44,496,619.21 | 26,770,658.26 |
| TotalcomprehensiveincomeattributabletoownersofparentCompany | 44,542,715.32 | 25,594,985.78 |
| Totalcomprehensiveincomeattributabletominorityshareholders | -46,096.11 | 1,175,672.48 |
| VIII.Earningspershare: | ||
| (i)Basicearningspershare | 0.1033 | 0.0594 |
| (ii)Dilutedearningspershare | 0.1033 | 0.0594 |
LegalRepresentative:FuChunlongPersoninchargeofAccountingWorks:LouHongPersoninchargeofAccountingInstitution:LiaoZebin
4.ProfitStatementofParentCompany
InRMB
| Item | Semi-annualof2021 | Semi-annualof2020 |
| I.Operatingincome | 19,483,635.23 | 13,120,854.52 |
| Less:Operatingcost | 5,163,217.03 | 3,857,719.57 |
| Taxesandsurcharge | 717,195.50 | 409,089.36 |
| Salesexpenses | - | 1,569,961.98 |
| Administrationexpenses | 16,198,882.72 | 12,509,528.85 |
| R&Dexpenses | - | - |
| Financialexpenses | -671,872.77 | -961,656.89 |
| Including:Interestexpenses | - | - |
| Interestincome | 659,566.06 | 1,050,258.70 |
| Add:Otherincome | - | 21,849.42 |
| Investmentincome(Lossislistedwith“-”) | 14,609,726.37 | 19,230,523.18 |
| Including:InvestmentincomeonaffiliatedCompanyandjointventure | 12,534,155.42 | 8,715,946.43 |
| Theterminationofincomerecognitionforfinancialassetsmeasuredbyamortizedcost(Lossislistedwith“-”) | - | - |
| Netexposurehedgingincome(Lossislistedwith“-”) | - | - |
| Changingincomeoffairvalue(Lossislistedwith“-”) | -110,023.28 | -324,383.56 |
| Lossofcreditimpairment(Lossislistedwith“-”) | ||
| Lossesofdevaluationofasset(Lossislistedwith“-”) | ||
| Incomeondisposalofassets(Lossislistedwith“-”) | ||
| II.Operatingprofit(Lossislistedwith“-”) | 12,575,915.84 | 14,664,200.69 |
| Add:Non-operatingincome | 19,127.02 | -18,810.00 |
| Less:Non-operatingexpense | ||
| III.TotalProfit(Lossislistedwith | 12,595,042.86 | 14,645,390.69 |
| “-”) | ||
| Less:Incometax | 54,954.66 | -369,343.18 |
| IV.Netprofit(Netlossislistedwith“-”) | 12,540,088.20 | 15,014,733.87 |
| (i)continuousoperatingnetprofit(netlosslistedwith‘-”) | 12,540,088.20 | 15,014,733.87 |
| (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.Cashflowhedgingreserve | ||
| 6.Translationdifferencesarisingontranslationofforeigncurrencyfinancialstatements | ||
| 7.Other | ||
| VI.Totalcomprehensiveincome | 12,540,088.20 | 15,014,733.87 |
5.ConsolidatedCashFlowStatement
InRMB
| Item | Semi-annualof2021 | Semi-annualof2020 |
| I.Cashflowsarisingfromoperatingactivities: | ||
| Cashreceivedfromsellingcommoditiesandprovidinglaborservices | 255,459,153.13 | 263,485,972.58 |
| Netincreaseofcustomerdepositandinterbankdeposit | ||
| Netincreaseofloanfromcentralbank | ||
| Netincreaseofcapitalborrowedfromotherfinancialinstitution | ||
| Cashreceivedfromoriginalinsurancecontractfee | ||
| Netcashreceivedfromreinsurancebusiness | ||
| Netincreaseofinsuredsavingsandinvestment | ||
| Cashreceivedfrominterest,commissionchargeandcommission | ||
| Netincreaseofcapitalborrowed | ||
| Netincreaseofreturnedbusinesscapital | ||
| Netcashreceivedbyagentsinsaleandpurchaseofsecurities | ||
| Write-backoftaxreceived | - | |
| Othercashreceivedconcerningoperatingactivities | 73,388,884.28 | 38,218,429.50 |
| Subtotalofcashinflowarisingfromoperatingactivities | 328,848,037.41 | 301,704,402.08 |
| Cashpaidforpurchasingcommoditiesandreceivinglaborservice | 141,066,170.40 | 142,251,999.24 |
| Netincreaseofcustomerloansandadvances | ||
| Netincreaseofdepositsincentralbankandinterbank | ||
| Cashpaidfororiginalinsurancecontractcompensation | ||
| Netincreaseofcapitallent | ||
| Cashpaidforinterest, |
| commissionchargeandcommission | ||
| Cashpaidforbonusofguaranteeslip | ||
| Cashpaidto/forstaffandworkers | 30,623,586.20 | 24,589,002.12 |
| Taxespaid | 20,257,855.77 | 68,873,589.78 |
| Othercashpaidconcerningoperatingactivities | 77,329,026.02 | 48,683,488.74 |
| Subtotalofcashoutflowarisingfromoperatingactivities | 269,276,638.39 | 284,398,079.88 |
| Netcashflowsarisingfromoperatingactivities | 59,571,399.02 | 17,306,322.20 |
| II.Cashflowsarisingfrominvestingactivities: | ||
| Cashreceivedfromrecoveringinvestment | 896,400,000.00 | 755,800,000.00 |
| Cashreceivedfrominvestmentincome | 4,969,394.03 | 4,556,873.60 |
| Netcashreceivedfromdisposaloffixed,intangibleandotherlong-termassets | 334,000.00 | 6,400.00 |
| Netcashreceivedfromdisposalofsubsidiariesandotherunits | - | - |
| Othercashreceivedconcerninginvestingactivities | - | - |
| Subtotalofcashinflowfrominvestingactivities | 901,703,394.03 | 760,363,273.60 |
| Cashpaidforpurchasingfixed,intangibleandotherlong-termassets | 37,930,602.45 | 37,821,844.32 |
| Cashpaidforinvestment | 794,280,000.00 | 810,800,000.00 |
| Netincreaseofmortgagedloans | - | - |
| Netcashreceivedfromsubsidiariesandotherunitsobtained | - | - |
| Othercashpaidconcerninginvestingactivities | ||
| Subtotalofcashoutflowfrominvestingactivities | 832,210,602.45 | 848,621,844.32 |
| Netcashflowsarisingfrominvestingactivities | 69,492,791.58 | -88,258,570.72 |
| III.Cashflowsarisingfromfinancingactivities: | ||
| Cashreceivedfromabsorbinginvestment |
| Including:Cashreceivedfromabsorbingminorityshareholders’investmentbysubsidiaries | ||
| Cashreceivedfromloans | 29,715,060.10 | - |
| Othercashreceivedconcerningfinancingactivities | - | - |
| Subtotalofcashinflowfromfinancingactivities | 29,715,060.10 | - |
| Cashpaidforsettlingdebts | - | 2,952,372.85 |
| Cashpaidfordividendandprofitdistributingorinterestpaying | 9,165,434.86 | 21,825,829.24 |
| Including:Dividendandprofitofminorityshareholderpaidbysubsidiaries | ||
| Othercashpaidconcerningfinancingactivities | ||
| Subtotalofcashoutflowfromfinancingactivities | 9,165,434.86 | 24,778,202.09 |
| Netcashflowsarisingfromfinancingactivities | 20,549,625.24 | -24,778,202.09 |
| IV.Influenceoncashandcashequivalentsduetofluctuationinexchangerate | -16,779.45 | 88.42 |
| V.Netincreaseofcashandcashequivalents | 149,597,036.39 | -95,730,362.19 |
| Add:Balanceofcashandcashequivalentsattheperiod-begin | 208,462,656.63 | 400,668,257.81 |
| VI.Balanceofcashandcashequivalentsattheperiod-end | 358,059,693.02 | 304,937,895.62 |
LegalRepresentative:FuChunlongPersoninchargeofAccountingWorks:LouHongPersoninchargeofAccountingInstitution:LiaoZebin
6.CashFlowStatementofParentCompany
InRMB
| Item | Semi-annualof2021 | Semi-annualof2020 |
| I.Cashflowsarisingfromoperatingactivities: | ||
| Cashreceivedfromsellingcommoditiesandprovidinglaborservices | 4,331,488.77 | 4,151,391.53 |
| Write-backoftaxreceived | - | - |
| Othercashreceivedconcerningoperatingactivities | 145,968,999.79 | 40,826,847.87 |
| Subtotalofcashinflowarisingfromoperatingactivities | 150,300,488.56 | 44,978,239.40 |
| Cashpaidforpurchasingcommoditiesandreceivinglaborservice | - | 239,375.15 |
| Cashpaidto/forstaffandworkers | 14,532,885.73 | 11,892,984.82 |
| Taxespaid | 1,621,570.18 | 54,859,179.71 |
| Othercashpaidconcerningoperatingactivities | 47,698,960.71 | 46,163,081.37 |
| Subtotalofcashoutflowarisingfromoperatingactivities | 63,853,416.62 | 113,154,621.05 |
| Netcashflowsarisingfromoperatingactivities | 86,447,071.94 | -68,176,381.65 |
| II.Cashflowsarisingfrominvestingactivities: | ||
| Cashreceivedfromrecoveringinvestment | 269,900,000.00 | 307,000,000.00 |
| Cashreceivedfrominvestmentincome | 2,175,570.95 | 10,641,433.09 |
| Netcashreceivedfromdisposaloffixed,intangibleandotherlong-termassets | ||
| Netcashreceivedfromdisposalofsubsidiariesandotherunits | ||
| Othercashreceivedconcerninginvestingactivities | ||
| Subtotalofcashinflowfrominvestingactivities | 272,075,570.95 | 317,641,433.09 |
| Cashpaidforpurchasingfixed,intangibleandotherlong-termassets | 33,234,690.43 | 17,257,856.83 |
| Cashpaidforinvestment | 339,000,000.00 | 267,000,000.00 |
| Netcashreceivedfromsubsidiariesandotherunitsobtained | - | - |
| Othercashpaidconcerninginvestingactivities | 200,150.00 | - |
| Subtotalofcashoutflowfrominvestingactivities | 372,434,840.43 | 284,257,856.83 |
| Netcashflowsarisingfrominvestingactivities | -100,359,269.48 | 33,383,576.26 |
| III.Cashflowsarisingfromfinancingactivities: |
| Cashreceivedfromabsorbinginvestment | ||
| Cashreceivedfromloans | 29,715,060.10 | |
| Othercashreceivedconcerningfinancingactivities | - | |
| Subtotalofcashinflowfromfinancingactivities | 29,715,060.10 | |
| Cashpaidforsettlingdebts | ||
| Cashpaidfordividendandprofitdistributingorinterestpaying | 9,116,132.76 | 18,104,449.44 |
| Othercashpaidconcerningfinancingactivities | - | - |
| Subtotalofcashoutflowfromfinancingactivities | 9,116,132.76 | 18,104,449.44 |
| Netcashflowsarisingfromfinancingactivities | 20,598,927.34 | -18,104,449.44 |
| IV.Influenceoncashandcashequivalentsduetofluctuationinexchangerate | ||
| V.Netincreaseofcashandcashequivalents | 6,686,729.80 | -52,897,254.83 |
| Add:Balanceofcashandcashequivalentsattheperiod-begin | 42,609,260.98 | 173,702,343.04 |
| VI.Balanceofcashandcashequivalentsattheperiod-end | 49,295,990.78 | 120,805,088.21 |
7.StatementofChangesinOwners’Equity(Consolidated)CurrentAmount
InRMB
| Item | Semi-annualof2021 | ||||||||||||||
| Owners’equityattributabletotheparentCompany | Minorityinterests | Totalowners’equity | |||||||||||||
| Sharecapital | Otherequityinstrument | Capitalreserve | Less:Inventoryshares | Othercomprehensiveincome | Reasonablereserve | Surplusreserve | Provisionofgeneralrisk | Retainedprofit | Other | Subtotal | |||||
| Preferredstock | Perpetualcapitalsecurities | Other | |||||||||||||
| I.Theendingbalanceofthepreviousyear | 431,058,3 | - | - | - | 431,449,554. | - | 26,422.00 | - | 23,848,485.6 | 424,141,893. | 1,310,524,67 | 74,121,426.3 | 1,384,646,10 | ||
| 20.00 | 51 | 2 | 34 | 5.47 | 4 | 1.81 | |||||||||
| Add:Changesofaccountingpolicy | |||||||||||||||
| Errorcorrectionofthelastperiod | |||||||||||||||
| Enterprisecombineunderthesamecontrol | |||||||||||||||
| Other | |||||||||||||||
| II.Thebeginningbalanceofthecurrentyear | 431,058,320.00 | - | - | - | 431,449,554.51 | - | 26,422.00 | - | 23,848,485.62 | 424,141,893.34 | 1,310,524,675.47 | 74,121,426.34 | 1,384,646,101.81 | ||
| III.Increase/Decreaseintheperiod(Decreaseislistedwith“-”) | 35,921,548.92 | 35,921,548.92 | -95,398.21 | 35,826,150.71 | |||||||||||
| (i)Totalcomprehensiveincome | 44,542,715.32 | 44,542,715.32 | -46,096.11 | 44,496,619.21 | |||||||||||
| (ii)Owners’devotedanddecreasedcapital | |||||||||||||||
| 1.Commonsharesinvestedbyshareholders | |||||||||||||||
| 2.Capitalinvestedbyholdersofotherequityinstruments | |||||||||||||||
| 3.Amountreckonedintoownersequitywithshare-basedpayment | |||||||||||||||
| 4.Other | |||||||||||||||
| (iii)Profitdistribution | -8,621,166.40 | -8,621,166.40 | -49,302.10 | -8,670,468.50 | |||||||||||
| 1.Withdrawalofsurplusreserves | - | - | |||||||||||||
| 2.Withdrawalof |
| generalriskprovisions | |||||||||||||||
| 3.Distributionforowners(orshareholders) | -8,621,166.40 | -8,621,166.40 | -49,302.10 | -8,670,468.50 | |||||||||||
| 4.Other | |||||||||||||||
| (iv)Carryingforwardinternalowners’equity | |||||||||||||||
| 1.Capitalreservesconversedtocapital(sharecapital) | |||||||||||||||
| 2.Surplusreservesconversedtocapital(sharecapital) | |||||||||||||||
| 3.Remedyinglosswithsurplusreserve | |||||||||||||||
| 4.Carry-overretainedearningsfromthedefinedbenefitplans | |||||||||||||||
| 5.Carry-overretainedearningsfromothercomprehensiveincome | |||||||||||||||
| 6.Other | |||||||||||||||
| (v)Reasonablereserve | |||||||||||||||
| 1.Withdrawalinthereportperiod | |||||||||||||||
| 2.Usageinthereportperiod | |||||||||||||||
| (vi)Others | |||||||||||||||
| IV.Balanceattheendoftheperiod | 431,058,320.00 | - | - | - | 431,449,554.51 | - | 26,422.00 | - | 23,848,485.62 | 460,063,442.26 | 1,346,446,224.39 | 74,026,028.13 | 1,420,472,252.52 |
Amountofthepreviousperiod
InRMB
| Item | Semi-annualof2020 | ||
| Owners’equityattributabletotheparentCompany | Mino | Total | |
| Sharecapital | Otherequityinstrument | Capitalreserve | Less:Inventoryshares | Othercomprehensiveincome | Reasonablereserve | Surplusreserve | Provisionofgeneralrisk | Retainedprofit | Other | Subtotal | rityinterests | owners’equity | |||
| Preferredstock | Perpetualcapitalsecurities | Other | |||||||||||||
| I.Theendingbalanceofthepreviousyear | 431,058,320.00 | - | - | - | 431,449,554.51 | - | 26,422.00 | - | 21,007,488.73 | 387,423,510.78 | 1,270,965,296.02 | 68,247,700.77 | 1,339,212,996.79 | ||
| Add:Changesofaccountingpolicy | |||||||||||||||
| Errorcorrectionofthelastperiod | |||||||||||||||
| Enterprisecombineunderthesamecontrol | |||||||||||||||
| Other | |||||||||||||||
| II.Thebeginningbalanceofthecurrentyear | 431,058,320.00 | - | - | - | 431,449,554.51 | - | 26,422.00 | - | 21,007,488.73 | 387,423,510.78 | 1,270,965,296.02 | 68,247,700.77 | 1,339,212,996.79 | ||
| III.Increase/Decreaseintheperiod(Decreaseislistedwith“-”) | 7,490,536.34 | 7,490,536.34 | -2,545,707.32 | 4,944,829.02 | |||||||||||
| (i)Total | 25,5 | 25,5 | 1,175 | 26,77 | |||||||||||
| comprehensiveincome | 94,985.78 | 94,985.78 | ,672.48 | 0,658.26 | ||
| (ii)Owners’devotedanddecreasedcapital | ||||||
| 1.Commonsharesinvestedbyshareholders | ||||||
| 2.Capitalinvestedbyholdersofotherequityinstruments | ||||||
| 3.Amountreckonedintoownersequitywithshare-basedpayment | ||||||
| 4.Other | ||||||
| (iii)Profitdistribution | -18,104,449.44 | -18,104,449.44 | -3,721,379.80 | -21,825,829.24 | ||
| 1.Withdrawalofsurplusreserves | ||||||
| 2.Withdrawalofgeneralriskprovisions | ||||||
| 3.Distributionforowners(orshareholders) | -18,104,449.44 | -18,104,449.44 | -3,721,379.80 | -21,825,829.24 | ||
| 4.Other | ||||||
| (iv)Carryingforward |
| internalowners’equity | |||||||||||||||
| 1.Capitalreservesconversedtocapital(sharecapital) | |||||||||||||||
| 2.Surplusreservesconversedtocapital(sharecapital) | |||||||||||||||
| 3.Remedyinglosswithsurplusreserve | |||||||||||||||
| 4.Carry-overretainedearningsfromthedefinedbenefitplans | |||||||||||||||
| 5.Carry-overretainedearningsfromothercomprehensiveincome | |||||||||||||||
| 6.Other | |||||||||||||||
| (v)Reasonablereserve | |||||||||||||||
| 1.Withdrawalinthereportperiod | |||||||||||||||
| 2.Usageinthereportperiod | |||||||||||||||
| (vi)Others | |||||||||||||||
| IV.Balanceattheendof | 431,05 | - | - | - | 431,449, | - | 26,422.0 | - | 21,007,4 | 394,914, | 1,278,45 | 65,701,993 | 1,344,157, |
| theperiod | 8,320.00 | 554.51 | 0 | 88.73 | 047.12 | 5,832.36 | .45 | 825.81 |
LegalRepresentative:FuChunlongPersoninchargeofAccountingWorks:LouHongPersoninchargeofAccountingInstitution:LiaoZebin
8.StatementofChangesinOwners’Equity(ParentCompany)
CurrentAmount
InRMB
| Item | Semi-annualof2021 | |||||||||||
| Sharecapital | Otherequityinstrument | Capitalreserve | Less:Inventoryshares | Othercomprehensiveincome | Reasonablereserve | Surplusreserve | Retainedprofit | Other | Totalowners’equity | |||
| Preferredstock | Perpetualcapitalsecurities | Other | ||||||||||
| I.Theendingbalanceofthepreviousyear | 431,058,320.00 | - | - | - | 428,256,131.23 | - | - | - | 23,848,485.62 | 187,380,544.20 | 1,070,543,481.05 | |
| Add:Changesofaccountingpolicy | ||||||||||||
| Errorcorrectionofthelastperiod | ||||||||||||
| Other | ||||||||||||
| II.Thebeginningbalanceofthecurrentyear | 431,058,320.00 | - | - | - | 428,256,131.23 | - | - | - | 23,848,485.62 | 187,380,544.20 | 1,070,543,481.05 | |
| III.Increase/Decreaseintheperiod(Decreaseislistedwith“-”) | 3,918,921.80 | 3,918,921.80 | ||||||||||
| (i)Totalcomprehensiveincome | 12,540,088.2 | 12,540,088.20 | ||||||||||
| 0 | ||||
| (ii)Owners’devotedanddecreasedcapital | ||||
| 1.Commonsharesinvestedbyshareholders | ||||
| 2.Capitalinvestedbyholdersofotherequityinstruments | ||||
| 3.Amountreckonedintoownersequitywithshare-basedpayment | ||||
| 4.Other | ||||
| (iii)Profitdistribution | -8,621,166.40 | -8,621,166.40 | ||
| 1.Withdrawalofsurplusreserves | ||||
| 2.Distributionforowners(orshareholders) | -8,621,166.40 | -8,621,166.40 | ||
| 3.Other | ||||
| (iv)Carryingforwardinternalowners’equity | ||||
| 1.Capitalreservesconversedtocapital(sharecapital) | ||||
| 2.Surplusreservesconversedtocapital(share |
| capital) | ||||||||||||
| 3.Remedyinglosswithsurplusreserve | ||||||||||||
| 4.Carry-overretainedearningsfromthedefinedbenefitplans | ||||||||||||
| 5.Carry-overretainedearningsfromothercomprehensiveincome | ||||||||||||
| 6.Other | ||||||||||||
| (v)Reasonablereserve | ||||||||||||
| 1.Withdrawalinthereportperiod | ||||||||||||
| 2.Usageinthereportperiod | ||||||||||||
| (vi)Others | ||||||||||||
| IV.Balanceattheendoftheperiod | 431,058,320.00 | - | - | - | 428,256,131.23 | - | - | - | 23,848,485.62 | 191,299,466.00 | 1,074,462,402.85 |
Amountofthepreviousperiod
InRMB
| Item | Semi-annualof2020 | |||||||||||
| Sharecapital | Otherequityinstrument | Capitalreserve | Less:Inventoryshares | Othercomprehensiveincome | Reasonablereserve | Surplusreserve | Retainedprofit | Other | Totalowners’equity | |||
| Preferredstock | Perpetualcapitalsecurities | Other | ||||||||||
| I.Theendingbalanceofthepreviousyear | 431,058,320.00 | - | - | - | 428,256,131.23 | - | - | - | 21,007,488.73 | 179,916,021.60 | 1,060,237,961.56 | |
| Add:Changesofaccountingpolicy | ||||||||||||
| Errorcorrectionofthelastperiod | ||||||||||||
| Other | ||||||||||||
| II.Thebeginningbalanceofthecurrentyear | 431,058,320.00 | - | - | - | 428,256,131.23 | - | - | - | 21,007,488.73 | 179,916,021.60 | 1,060,237,961.56 | |
| III.Increase/Decreaseintheperiod(Decreaseislistedwith“-”) | -3,089,715.57 | -3,089,715.57 | ||||||||||
| (i)Totalcomprehensiveincome | 15,014,733.87 | 15,014,733.87 | ||||||||||
| (ii)Owners’devotedanddecreasedcapital | ||||||||||||
| 1.Commonsharesinvestedbyshareholders | ||||||||||||
| 2.Capitalinvestedbyholdersofotherequityinstruments | ||||||||||||
| 3.Amountreckonedintoownersequitywithshare-basedpayment | ||||||||||||
| 4.Other | ||||||||||||
| (iii)Profitdistribution | -18,104,449.44 | -18,104,449.44 |
| 1.Withdrawalofsurplusreserves | ||||
| 2.Distributionforowners(orshareholders) | -18,104,449.44 | -18,104,449.44 | ||
| 3.Other | ||||
| (iv)Carryingforwardinternalowners’equity | ||||
| 1.Capitalreservesconversedtocapital(sharecapital) | ||||
| 2.Surplusreservesconversedtocapital(sharecapital) | ||||
| 3.Remedyinglosswithsurplusreserve | ||||
| 4.Carry-overretainedearningsfromthedefinedbenefitplans | ||||
| 5.Carry-overretainedearningsfromothercomprehensiveincome | ||||
| 6.Other | ||||
| (v)Reasonablereserve |
| 1.Withdrawalinthereportperiod | ||||||||||||
| 2.Usageinthereportperiod | ||||||||||||
| (vi)Others | ||||||||||||
| IV.Balanceattheendoftheperiod | 431,058,320.00 | - | - | - | 428,256,131.23 | - | - | - | 21,007,488.73 | 176,826,306.03 | 1,057,148,245.99 |
III.Companyprofile
ShenzhenTellusHoldingCo.,Ltd.(hereinafterreferredtoastheCompany),isthejointstockcompanyreorganizedandestablishedbyformerShenzhenMachineryIndustryCompany,whichhasbeenapprovedbythereplyrelatingtoShenzhenMachineryIndustryCompanytransformingtoShenzhenTestriteMachineryCo.,Ltd.(SFBF[1991]1012)issuedbytheGeneralOfficeofShenzhenMunicipalPeople’sGovernment.TheCompanyregisteredinShenzhenAdministrationforIndustry&Commerceon10November1986andwithitsheadquarterlocatedinShenzhen,GuangdongProvince.TheCompanyholdsaunifiedsocialcreditcodeofbusinesslicenseof91440300192192210U,witharegisteredcapitalof431,058,320.00yuan,andtotalnumberofsharesamountedto431,058,320(parvalueof1yuan/share).Ofwhich,theoutstandingshareswithlimitedsalesconditions:0Asharesand0Bshares;theshareswithoutlimitedsalesconditionwas392,778,320Asharesand38,280,000Bshares.SharesoftheCompanywerelistedfortradingonShenzhenStockExchangeon21June1993.theCompanyisinthewholesaleindustryandmainlyengagedoftheautomobilesales,autorepairandtesting,jewelrysales,propertyrentalandserviceetc.ThisfinancialstatementisapprovedfordisclosurebyresolutionfromtheBoarddated19August2021.The15subsidiariesincludingShenzhenZhongtianIndustrialCo,.Ltd.,SichuanTellusJewelryTech.Co.,LtdandShenzhenHuariToyotaAutomobileSalesServiceCo.,Ltdareincludedintheconsolidatefinancialstatementscope,foundmoreintheexplanationofNote7andNote8carriedinthefinancialstatement.
IV.BasisPreparationoftheFinancialStatements
1.PreparationbaseFinancialstatementoftheCompanyispreparedonagoingconcernbasis.
2.GoingconcernTheCompanydoesnothaveanyeventsorcircumstancesthatwouldcausesignificantdoubtaboutitsabilitytocontinueasagoingconcernwithin12monthsfromtheendofthereportingperiod.V.Importantaccountingpolicy&accountingestimationSpecificaccountingpoliciesandestimationattention:
Importanttips:accordingtothecharacteristicsoftheactualproductionandoperation,theCompanyformulatedspecificaccountingpoliciesandestimationfortransactionsoreventssuchasimpairmentoffinancialinstruments,depreciationoffixedassets,amortizationofintangibleassetsandrevenuerecognition.
1.StatementofCompliancewiththeAccountingStandardsforBusinessEnterprisesThefinancialstatementspreparedbytheCompanyareinaccordancetorequirementsofAccountingStandardforBusinessEnterprise,whichtrulyandcompletelyreflectthefinancialstatusoftheCompany,aswellastheoperationresultsandcashflows.
2.AccountingperiodAccountingperiodoftheCompanyisfallstotherangestartingfrom1Januaryto31December.
3.OperatingcycleOperatingcycleoftheCompany’sbusinessisrelativelyshort,and12monthsistakenastheliquiditydivisionstandardofassetsandliabilities.
4.StandardcurrencyTherecordingcurrencyoftheCompanyisRenminbi(RMB/CNY),andtheforeign(branch)subsidiariesarerecordedinthecurrencyoftheprimaryeconomicenvironmentinwhichtheyoperates.
5.Accountingtreatmentmethodsofbusinesscombinationunderthesamecontrolandnotunderthesamecontrol
(1)BusinesscombinationunderthesamecontrolTheassetsandliabilitiesacquiredbytheCompanyinthebusinesscombinationshallbemeasuredatthebookvalueofthecombinedpartyintheconsolidatedfinancialstatementsofthefinalcontrollingpartyonthedateofcombination.Amongthem,iftheaccountingpoliciesadoptedbythecombinedpartyandtheCompanybeforethebusinesscombinationaredifferent,theaccountingpoliciesshallbeunifiedbasedonthematerialityprinciple,thatis,thebookvalueoftheassetsandliabilitiesofthecombinedpartyshallbeadjustedaccordingtotheaccountingpoliciesoftheCompany.IfthereisadifferencebetweenthebookvalueofthenetassetsacquiredinthebusinesscombinationandthebookvalueoftheconsiderationpaidbytheCompany,theCompanyshallfirstadjustthecapitalreserve(capitalpremiumorequitypremium).Ifthebalanceofthecapitalreserve(capitalpremiumorequitypremium)isinsufficienttooffset,thesurplusreserveandundistributedprofitshallbeoffsetsuccessively.Fortheaccountingtreatmentofabusinesscombinationunderthesamecontrolthroughstep-by-steptransactions,pleaseseeNotesV.6(6).
(2)BusinesscombinationnotunderthesamecontrolTheidentifiableassetsandliabilitiesoftheacquireeacquiredbytheCompanyinthebusinesscombinationshall
bemeasuredattheirfairvalueonthepurchasedate.Amongthem,iftheaccountingpoliciesadoptedbytheacquireeandtheCompanybeforethebusinesscombinationaredifferent,theaccountingpoliciesshallbeunifiedbasedonthematerialityprinciple,thatis,thebookvalueoftheassetsandliabilitiesoftheacquireeshallbeadjustedaccordingtotheaccountingpoliciesoftheCompany.ThedifferencebetweenthecombinedcostoftheCompanyontheacquisitiondateandthefairvalueoftheidentifiableassetsandliabilitiesoftheacquireeacquiredbythepurchaserinthebusinesscombinationshallberecognizedasgoodwill;ifthecombinedcostislessthanthedifferenceoffairvalueoftheidentifiableassetsandliabilitiesoftheacquireeacquiredinthebusinesscombination,firstofall,thecombinedcostandthefairvalueoftheidentifiableassetsandliabilitiesoftheacquireeacquiredinthebusinesscombinationshallbereviewed,afterreview,ifthecombinedcostisstilllessthanthefairvalueoftheidentifiableassetsandliabilitiesoftheacquiree,thedifferenceshallberecognizedasconsolidatedprofitsandlossesforthecurrentperiod.Fortheaccountingtreatmentofabusinesscombinationnotunderthesamecontrolthroughstep-by-steptransactions,pleaseseeNotesV.6(6).
(3)DisposaloftransactioncostsinbusinesscombinationTheintermediaryfeesforauditing,legalservices,evaluationandconsultationandotherrelatedadministrativeexpensesincurredforthebusinesscombinationshallberecordedintothecurrentprofitsandlosseswhenincurred.Transactioncostsofequitysecuritiesordebtsecuritiesissuedasconsiderationforthemergerareincludedintheinitialrecognitionamountoftheequitysecuritiesordebtsecurities.
6.Methodsforpreparationofconsolidatedfinancialstatements
(1)DeterminationoftheconsolidatedscopeTheconsolidatedscopeoftheconsolidatedfinancialstatementsisdeterminedonthebasisofcontrol,includingnotonlysubsidiariesasdeterminedbyvotingrights(orsimilarvotingrights)ontheirownorincombinationwithotherarrangements,butalsostructuredentitiesasdeterminedbyoneormorecontractualarrangements.ControlmeansthattheCompanyhasthepowerovertheinvestee,enjoysvariablereturnsbyparticipatinginrelatedactivitiesoftheinvestee,andhastheabilitytousethepowerovertheinvesteetoinfluencetheamountofreturn.AsubsidiaryisanentityunderthecontroloftheCompany(includingtheseparablepartofanenterpriseandaninvestedentity,andthestructuredentitycontrolledbytheenterprise,etc.),astructuredentityisonethatisdesignedwithouttakingtherighttovoteorsimilarrightsasadeterminingfactorwhendeterminingitscontrollingparty(Note:sometimesitisalsoknownastheentityofspecialpurpose).
(2)SpecialprovisionsontheparentcompanybeinganinvestmententityIftheparentcompanyisaninvestmententity,onlythosesubsidiariesthatproviderelevantservicesfortheinvestmentactivitiesoftheinvestmententitywillbeincludedintheconsolidationscope,andothersubsidiarieswillnotbemerged.Equityinvestorsofthesubsidiariesthatarenotincludedintheconsolidationscopearerecognizedasfinancialassetsmeasuredatfairvalueandtheirchangesarerecordedintheprofitsandlossesof
currentperiod.Whentheparentcompanysimultaneouslysatisfiesthefollowingconditions,theparentcompanyisaninvestmententity:
①Thecompanyobtainsfundsfromoneormoreinvestorsforthepurposeofprovidinginvestmentmanagementservicestoinvestors.
②Thesolepurposeofthecompany'soperationistoprovidereturnstoinvestorsthroughcapitalappreciation,investmentincome,orboth.
③Thecompanyconsidersandevaluatestheperformanceofalmostallinvestmentsinaccordancewiththefairvalue.Whentheparentcompanychangesfromthenon-investmententityintotheinvestmententity,exceptonlyincludethesubsidiariesprovidingrelatedservicesfortheirinvestmentactivitiesintothescopeofconsolidatedfinancialstatements,thecompanynolongermergeothersubsidiariessincethechangeday,anddealwithaccordingtotheprincipleofdisposingsubsidiaryequitybutnotlosingtherightofcontrol.Whentheparentcompanychangesfromtheinvestmententityintothenon-investmententity,thesubsidiaryoriginallynotincludedinthescopeofconsolidatedfinancialstatementsshallbeincludedintothescopeofconsolidatedfinancialstatementsonthechangeday,thefairvalueofthesubsidiaryoriginallynotincludedinthescopeofconsolidatedfinancialstatementsonthechangedayshallberegardedasthetradingconsiderationofpurchase,anddealwithaccordingtotheaccountingtreatmentmethodforbusinesscombinationnotunderthesamecontrol.
(3)PreparationmethodofconsolidatedfinancialstatementsTheCompanyshall,onthebasisofitsownfinancialstatementsandthoseofitssubsidiaries,prepareconsolidatedfinancialstatementsinaccordancewithotherrelevantinformation.Whenpreparingconsolidatedfinancialstatements,theCompanyshallregardtheentireenterprisegroupasanaccountingentity,andreflecttheoverallfinancialposition,operatingresultsandcashflowoftheenterprisegroupinaccordancewiththerequirementsofrecognition,measurementandpresentationofrelevantaccountingstandardsforenterprises,andinaccordancewithunifiedaccountingpoliciesandaccountingperiods.
①Mergetheassets,liabilities,owners'equity,revenues,expensesandcashflowsoftheparentcompanyanditssubsidiaries.
②Offsettheparentcompany'slong-termequityinvestmentinthesubsidiaryandtheparentcompany'sshareintheowner'sequityofthesubsidiary.
③Offsettheimpactofinternaltransactionsbetweentheparentcompanyanditssubsidiariesandamongthesubsidiaries.Wheretheinternaltransactionindicatestheimpairmentlossoftherelevantassets,thelossshallberecognizedinfull.
④Adjustspecialtransactionsfromtheperspectiveofenterprisegroups.
(4)Disposalofincreaseordecreaseinsubsidiariesduringthereportingperiod
①IncreasesubsidiariesorbusinessesA.Asubsidiaryorbusinessincreasedbythebusinessmergerunderthesamecontrol(a)Whenpreparingtheconsolidatedbalancesheet,theopeningbalanceoftheconsolidatedbalancesheetshallbeadjusted,andtherelevantitemsinthecomparativestatementshallbeadjusted,sothattheconsolidatedreportingentityshallbedeemedtohavebeeninexistencesincethebeginningofthecontrolbythefinalcontrollingparty.(b)Whenpreparingtheconsolidatedincomestatement,therevenues,expensesandprofitsofthesubsidiaryanditsbusinesscombinationfromthebeginningofthecurrentperiodtotheendofthereportingperiodshallbeincludedintheconsolidatedincomestatement,andrelevantitemsinthecomparativestatementshallbeadjusted,sothattheconsolidatedreportingentityshallbedeemedtohavebeeninexistencesincethebeginningofthecontrolbythefinalcontrollingparty.(c)Whenpreparingtheconsolidatedcashflowstatement,thecashflowofthesubsidiaryandthebusinesscombinationfromthebeginningofthecurrentperiodtotheendofthereportingperiodshallbeincludedintheconsolidatedcashflowstatement,andtherelevantitemsinthecomparativestatementshallbeadjusted,sothattheconsolidatedreportingentityshallbedeemedtohavebeeninexistencesincethebeginningofthecontrolbythefinalcontrollingparty.B.Asubsidiaryorbusinessaddedbyabusinesscombinationnotunderthesamecontrol(a)Theopeningbalanceoftheconsolidatedbalancesheetshallnotbeadjustedwhenpreparingtheconsolidatedbalancesheet.(b)Whenpreparingtheconsolidatedincomestatement,theincome,expensesandprofitsofthesubsidiaryandthebusinessfromthepurchasedatetotheendofthereportingperiodshallbeincludedintheconsolidatedincomestatement.(c)Whenpreparingtheconsolidatedcashflowstatement,thecashflowofthesubsidiaryfromthepurchasedatetotheendofthereportingperiodshallbeincludedintheconsolidatedcashflowstatement.
②DisposalofsubsidiariesorbusinessesA.Theopeningbalanceoftheconsolidatedbalancesheetshallnotbeadjustedwhenpreparingtheconsolidatedbalancesheet.B.Whenpreparingtheconsolidatedincomestatement,theincome,expensesandprofitsofthesubsidiaryandthebusinessfromthebeginningoftheperiodtothedisposaldateshallbeincludedintheconsolidatedincomestatement.C.Thecashflowsofthesubsidiaryandthebusinessfromthebeginningoftheperiodtothedisposaldateshallbeincludedintheconsolidatedcashflowstatementwhenpreparingtheconsolidatedcashflowstatement.
(5)Specialconsiderationsinthemergeroffset
①Thelong-termequityinvestmentoftheCompanyheldbyasubsidiaryshallberegardedasthetreasurysharesoftheCompanyandlistedas"deduct:treasuryshare"intheconsolidatedbalancesheetundertheowner'sequityitemasadeductionoftheowner'sequity.Thelong-termequityinvestmentsheldbythesubsidiariesshalloffset
againsttheirrespectivesharesintheowner'sequityofthesubsidiariesinaccordancewiththemethodusedbytheCompanytooffsettheequityinvestmentsinthesubsidiaries.
②"Specialreserve"and"generalriskreserve"arenotpaid-upcapital(orequity)orcapitalreserves,andaredifferentfromretainedearningsandundistributedprofits.Afterthelong-termequityinvestmentandtheowner'sequityofthesubsidiaryoffseteachother,the"specialreserve"and"generalriskreserve"shallberestoredaccordingtothesharebelongingtotheowneroftheparentcompany.
③Wheretheoffsettingofunrealizedinternalsalesgainsandlossesresultsintemporarydifferencesbetweenthecarryingvalueofassetsandliabilitiesintheconsolidatedbalancesheetandthetaxbaseoftheirtaxableentity,thedeferredincometaxassetsordeferredincometaxliabilitiesshallberecognizedintheconsolidatedbalancesheet,atthesametime,theincometaxexpensesintheconsolidatedincomestatementshallbeadjusted,exceptforthedeferredincometaxesrelatedtothetransactionsoreventsdirectlyincludedintheowner'sequityandthebusinesscombination.
④TheprofitandlossoftheunrealizedinternaltransactionincurredbytheCompanyinsellingassetstosubsidiariesshallfullyoffsetagainstthe"netprofitattributabletotheowneroftheparentcompany".TheprofitandlossoftheunrealizedinternaltransactionarisingfromthesaleofassetsbyasubsidiarytotheCompanyshallbedistributedandoffsetbetweenthe"netprofitattributabletotheowneroftheparentcompany"andthe"minorityshareholders'profitandloss"inaccordancewiththeproportiondistributedbytheCompanytothesubsidiary.Theprofitandlossoftheunrealizedinternaltransactionarisingfromthesaleofassetsamongsubsidiariesshallbedistributedandoffsetbetween"netprofitattributabletotheowneroftheparentcompany"and"minorityshareholders'profitandloss"inaccordancewiththedistributionratiooftheCompanytothesubsidiariesoftheseller.
⑤Ifthecurrentlosssharedbytheminorityshareholdersofthesubsidiaryexceedstheminorityshareholders'shareintheinitialowner'sequityofthesubsidiary,thebalanceshallstillbeoffsetagainsttheshareholders'equity.
(6)Accountingtreatmentofspecialtransactions
①PurchaseminorityshareholderequityWhentheCompanypurchasestheequityofasubsidiaryownedbytheminorityshareholderofthesubsidiary,theinvestmentcostofthelong-termequityinvestmentnewlyacquiredthroughthepurchaseofminorityequityshallbemeasuredaccordingtothefairvalueoftheconsiderationpaidinindividualfinancialstatements.Intheconsolidatedfinancialstatements,thedifferencebetweenthenewlyacquiredlong-termequityinvestmentduetothepurchaseofaminoritystakeandtheshareofthenetassetsofthesubsidiarycalculatedcontinuouslyfromthepurchasedateormergerdateaccordingtothenewshareholdingratioshouldadjustthecapitalreserves(capitalpremiumorstockpremium),ifthecapitalreservesareinsufficienttooffset,thesurplusreservesandundistributedprofitsshallbeoffsetinturn.
②ObtainingthecontrolofthesubsidiarystepbystepthroughmultipletransactionsA.RealizingbusinesscombinationunderthesamecontrolstepbystepthroughmultipletransactionsOnthemergerdate,theCompanyshalldeterminetheinitialinvestmentcostoflong-termequityinvestmentintheindividualfinancialstatementsaccordingtotheshareofthenetassetsofthesubsidiariesthatshallbeenjoyed
afterthemergerinthebookvalueoftheconsolidatedfinancialstatementsoftheultimatecontrollingparty;Thedifferencebetweentheinitialinvestmentcostandthebookvalueofthelong-termequityinvestmentbeforethemergerplusthebookvalueofthenewpaymentconsiderationforfurthersharesacquiredonthemergerdateshalladjustcapitalreserves(capitalpremiumorstockpremium),ifthecapitalreservesareinsufficienttooffset,thesurplusreservesandundistributedprofitsshallbeoffsetinturn.Intheconsolidatedfinancialstatements,theassetsandliabilitiesofthemergedpartyacquiredbythemergingpartyduringthemergershallbemeasuredaccordingtothebookvalueintheconsolidatedfinancialstatementsofthefinalcontrollingpartyonthemergerdate,exceptfortheadjustmentsmadeduetodifferentaccountingpolicies;Thedifferencebetweenthesumofthebookvalueoftheinvestmentheldbeforethemergerplusthebookvalueoftheconsiderationpaidonthedateofmergerandthebookvalueofthenetassetsacquiredduringthemergershalladjustthecapitalreserves(equitypremium/capitalpremium),andadjusttheretainedearningsifthecapitalreservesareinsufficienttooffset.Wheretheequityinvestmentheldbythemergingpartypriortotheacquisitionofcontrolofthemergedpartyareaccountedforaccordingtotheequitymethod,thechangesinrelevantprofitorloss,othercomprehensiveincomeandotherowners'equitythathasbeenrecognizedbetweenthedateonwhichtheoriginalequitywasacquiredandthedateonwhichthemergingpartyandthemergedpartyareinthefinalcontrolofthesamepartyshallrespectivelyoffsetagainsttheretainedearningsatthebeginningofthecomparativestatementperiod.B.RealizationofbusinesscombinationunderdifferentcontrolstepbystepthroughmultipletransactionsOnthemergerdate,intheindividualfinancialstatements,theinitialinvestmentcostofthelong-termequityinvestmentonthemergerdateshallbethesumofthebookvalueoftheoriginallong-termequityinvestmentplusthenewinvestmentcostonthemergerdate.Intheconsolidatedfinancialstatements,theequityoftheacquireeheldbeforethepurchasedateshallbere-measuredaccordingtothefairvalueoftheequityonthepurchasedate,andthedifferencebetweenthefairvalueandthebookvalueshallberecordedintotheinvestmentincomeofthecurrentperiod;Iftheequityheldbytheacquireepriortothepurchasedateinvolvesothercomprehensiveincomeundertheequitymethod,therelevantothercomprehensiveincomeshallbeconvertedtothecurrentincomeonthepurchasedate,exceptothercomprehensiveincomegeneratedbythechangeinnetassetsornetliabilitiesofthebenefitplansetbythemergedparty.Inthenotes,theCompanyshalldisclosethefairvalueonthepurchasedateoftheequityheldbythecompanypriortothepurchasedateandtheamountofrelevantgainsorlossesgeneratedbyre-measurementinaccordancewiththefairvalue.
③TheCompanydisposesofitslong-termequityinvestmentinitssubsidiarieswithoutlosingcontrolWheretheparentcompanypartiallydisposesofitslong-termequityinvestmentinasubsidiarywithoutlosingcontrol,intheconsolidatedfinancialstatements,thedifferencebetweenthedisposalcostandthesubsidiary'sshareofthenetassetscalculatedcontinuouslyfromthepurchasedateorthemergerdatecorrespondingtothe
disposalofthelong-termequityinvestmentshalladjustthecapitalreserves(capitalpremiumorstockpremium),ifthecapitalreservesisinsufficienttooffset,adjusttheretainedearnings.
④TheCompanydisposesofitslong-termequityinvestmentinitssubsidiariesandlosescontrolA.OnetransactiondisposalWheretheCompanylosesthecontroloftheinvesteeduetothedisposalofsomeequityinvestmentsandotherreasons,theremainingequityshallberemeasuredaccordingtothefairvalueoftheequityatthedateoflossofcontrolwhentheconsolidatedfinancialstatementsareprepared.Thesumoftheconsiderationobtainedfromthedisposaloftheequityandthefairvalueoftheremainingequityminusthedifferencebetweenthesharesofthenetassetsoftheoriginalsubsidiarywhichshouldbecontinuouslycalculatedfromthepurchasedateormergerdateaccordingtotheoriginalshareholdingratioshallbeincludedintotheinvestmentincomeofthecurrentperiodwhenthecontrolrightislost.Othercomprehensiveincomeandchangesinotherowners'equityrelatedtotheequityinvestmentoftheoriginalsubsidiaryshallbetransferredtothecurrentprofitandlosswhenthecontrolrightislost,exceptothercomprehensiveincomegeneratedbychangesinnetliabilitiesornetassetsofthebenefitplansetbytheinvestee.B.MultipletransactionshandledinstepsIntheconsolidatedfinancialstatements,weshouldfirstjudgewhetherthesteptransactionisa"packagetransaction".Ifthesteptransactiondoesnotbelongtothe"packagetransaction",intheindividualfinancialstatements,eachtransactionbeforethelossofcontrolofthesubsidiaryshallbecarriedforwardwiththebookvalueofthelong-termequityinvestmentcorrespondingtotheeachdisposalofequity,andthedifferencebetweentheincomepriceandthebookvalueofthedisposalofthelong-termequityinvestmentshallbeincludedinthecurrentinvestmentincome;Intheconsolidatedfinancialstatements,therelevantprovisionsof"theparentcompanydisposesofitslong-termequityinvestmentinthesubsidiarywithoutlosingcontrol"shallbefollowed.Ifthesteptransactionisa"packagetransaction",eachtransactionshallbeaccountedforasatransactionforthedisposalofthesubsidiaryandlossofcontrol;Intheindividualfinancialstatements,thedifferencebetweeneachdisposalpricebeforethelossofcontrolandthebookvalueofthelong-termequityinvestmentcorrespondingtothedisposedequityshallbefirstrecognizedasothercomprehensiveincome,andthentransferredtothecurrentprofitandlossofthelostcontrolwhenthecontrolrightislost;Intheconsolidatedfinancialstatements,foreachtransactionbeforethelossofcontrol,thedifferencebetweenthedisposalpriceandthedisposalinvestmentcorrespondingtotheshareofthesubsidiary'snetassetsshallberecognizedasothercomprehensiveincome,whichshallbetransferredtotheprofitandlossofthecurrentperiodatthetimeoflossofcontrol.Multipletransactionsareusuallyaccountedforas"packagetransactions"wheretheterms,conditionsandeconomicimpactofthetransactionsmeetoneormoreofthefollowingconditions:
(a)Thetransactionswereconcludedatthesametimeorwithconsiderationfortheirmutualimpact.
(b)Thetransactionsasawholearerequiredtoachieveacompletecommercialoutcome.(c)Theoccurrenceofonetransactiondependsontheoccurrenceofatleastoneothertransaction.(d)Atransactionisnoteconomicwhenconsideredinisolation,butitiseconomicwhenconsideredinconjunctionwithothertransactions.
⑤TheproportionofequityownedbytheparentcompanyisdilutedduetothecapitalincreasebyminorityshareholdersofsubsidiaryTheothershareholders(minorityshareholders)ofthesubsidiaryincreasethecapitalofthesubsidiary,thusdilutingtheshareholdingratiooftheparentcompanytothesubsidiary.Intheconsolidatedfinancialstatements,theshareoftheparentcompanyinthebooknetassetsofthesubsidiarybeforethecapitalincreaseshallbecalculatedaccordingtotheproportionoftheparentcompany'sequitybeforethecapitalincrease,andthedifferencebetweenthisshareandtheshareofbooknetassetsofthesubsidiaryaftercapitalincreasecalculatedaccordingtotheshareholdingratiooftheparentcompanyshalladjustthecapitalreserve(capitalpremiumorstockpremium),ifthecapitalreservesisinsufficienttooffset,adjusttheretainedearnings.
7.ClassificationofjointventurearrangementandaccountingforjointoperationsThejointventurearrangementisanarrangementunderthecommoncontroloftwoormoreparticipants.JointventurearrangementoftheCompanyareclassifiedasjointoperationsandjointventures.
(1)JointoperationsThejointoperationisajointarrangementinwhichtheCompanyenjoystheassetsandbearstheliabilitiesassociatedwithsucharrangement.TheCompanyrecognizesthefollowingitemsthatrelatedtoitssharesofinterestinajointoperationandaccountsfortheminaccordancewiththeprovisionsoftheAccountingStandardsforBusinessEnterprises(ASBE):
①Torecognizeseparately-heldassetsandjointly-heldassetsunderitsproportion;
②Torecognizeseparately-assumedliabilitiesandjointly-assumedliabilitiesunderitsproportion;
③TorecognizerevenuefromdisposaloftheoutputwhichtheCompanyisentitledtoundertheproportion;
④Torecognizerevenuefromdisposaloftheoutputundertheproportion;
⑤Torecognizeseparatelyoccurredexpenses,andtorecognizeexpensesoccurredforjointoperationsunderitsproportion.
(2)JointventureAjointventureisajointventurearrangementinwhichtheCompanyhasrightsonlytothenetassetsofsucharrangement.TheCompanyaccountsforitsinvestmentsinjointventuresinaccordancewiththeregulationsoftheequitymethodofthelong-termequityinvestment.
8.RecognitionstandardsforcashandcashequivalentsCashreferstotheenterprise’scashonhandanddepositsthatarereadilyavailablefordisbursement.Thecashequivalentsareinvestmentsthatareheldforashortperiodoftime(generallymaturingwithinthreemonthsfromthedateofpurchase),arehighlyliquid,areeasilyconvertibletoknownamountsofcash,andaresubjecttoaninsignificantriskofchangesinvalue.
9.Foreigncurrencybusinessandconversionofforeigncurrencystatement
(1)MethodofdeterminingtheconversionrateforforeigncurrencytransactionsFortheinitialrecognitionofforeigncurrencytransactions,theCompanyshallconverttothestandardcurrencyforaccountingatthespotrateonthedateofthetransactionorattheexchangerate(hereinafterreferredtoastheapproximateexchangerateofspotrate)determinedinaccordancewithasystematicandreasonablemethodandsimilartothespotrateonthedateofthetransaction.
(2)ConversionmethodofforeigncurrencymonetaryitemsonthebalancesheetdateOnthebalancesheetdate,thespotrateonthebalancesheetdateisusedforconversionforforeigncurrencymonetaryitems.Theexchangedifferenceresultingfromthedifferencebetweenthespotexchangerateonthebalancesheetdateandthespotexchangerateattheinitialrecognitionorthepreviousbalancesheetdateshallbebookedintotheprofitandlossofthecurrentperiod.Forforeigncurrencynon-monetaryitemsmeasuredathistoricalcost,thespotexchangerateonthetransactiondateisstillusedforconversion;Theforeigncurrencynon-monetaryitemsmeasuredatfairvalueshallbeconvertedatthespotexchangerateonthedateonwhichthefairvalueisdetermined,andthedifferencebetweentheamountofthestandardcurrencyforaccountingafterconversionandtheamountoftheoriginalstandardcurrencyforaccountingshallberecordedintotheprofitsandlossesofthecurrentperiod.
(3)ConversionmethodofforeigncurrencystatementsAdjustaccountingperiodsandaccountingpoliciesofoverseasoperationsbeforetheconversionofthefinancialstatementsofenterprises'overseasoperations,makeitconsistentwiththeaccountingperiodsandaccountingpoliciesoftheenterprise,andthenpreparefinancialstatementsincorrespondingcurrencies(currenciesotherthanthestandardcurrencyforaccounting)accordingtotheadjustedaccountingpoliciesandaccountingperiods,andconverttheoverseasbusinessfinancialstatementsaccordingtothefollowingmethods:
①Spotexchangerateasofthebalancesheetdateisadoptedforconversionofassetsandliabilitiesinthebalancesheet;asfortheitemsinstatementofowners’equityexceptfor“Retainedprofit”,conversionismadepursuanttothespotexchangerateofbusinessday.
②itemsofincomeandexpensesintheprofitstatementshallbeconvertedatthespotexchangerateonthedateoftransactionortheapproximateexchangeratetranslationofthespotrates.
③Foreigncurrencycashflowandcashflowofoverseassubsidiariesshallbeconvertedbythespotexchangerateonthedateofcashflowoccurrenceoranapproximateexchangerateofspotexchangerate.Theimpactof
exchangeratechangesoncashshallbepresentedseparatelyinthestatementofcashflowsasanadjustmentitem.
④Thebalancegeneratedfromtheconversionofforeigncurrencyfinancialstatementsshallbeseparatelypresentedas"othercomprehensiveincome"undertheowner'sequityitemintheconsolidatedbalancesheetwhenpreparingtheconsolidatedfinancialstatements.Whendisposingofoverseasoperationsandlosingcontrolofsuchoperations,thebalanceofconversionofforeigncurrencystatementsrelatedtosuchoperationsshownintheowner'sequityitemofthebalancesheetshallbetransferredintothedisposalofcurrentprofitsandlossesinwholeorinproportiontothedisposalofsuchoverseasoperations.
10.FinancialinstrumentsThefinancialinstrumentisacontractthatformsafinancialassetofonepartyandcreatesafinancialliabilityorequityinstrumentofanotherparty.
(1)RecognitionandterminateofrecognitionforafinancialinstrumentWhentheCompanybecomesapartytoafinancialinstrumentcontract,therelevantfinancialassetsorliabilitiesarerecognized.Afinancialassetisterminateforrecognitionwhenoneofthefollowingconditionsismet:
①thecontractualrightstoreceivethecashflowofsuchfinancialassetsareterminated:
②thefinancialassetshavebeentransferredandthefollowingconditionsforderecognitionoftransferofsuchfinancialassetsaremet.Wherethecurrentobligationofafinancialliability(oranypartthereof)hasbeenterminated,therecognitionofthefinancialliability(orthepartofthefinancialliability)shallbeterminated.IftheCompany(borrower)andthelendersignanagreementtoreplacetheoriginalfinancialliabilitiesbyassumingnewfinancialliabilities,andthecontracttermsofthenewfinancialliabilitiesandtheoriginalfinancialliabilitiesaresubstantiallydifferent,therecognitionoftheoriginalfinancialliabilitiesshallbeterminatedandthenewfinancialliabilitiesshallberecognizedatthesametime.IftheCompanymateriallymodifiesthecontracttermsoftheoriginalfinancialliability(oranypartthereof),theoriginalfinancialliabilityshallbeterminated,andatthesametimeanewfinancialliabilityshallberecognizedinaccordancewiththemodifiedterms.Accountingrecognitionandterminationofrecognitionaremadeonthetradingdayforbuyingandsellingoffinancialassetsinthenormalway.Conventionalbuyingandsellingoffinancialassetsmeansthatthefinancialassetsaredeliveredinaccordancewiththetermsofthecontractandonascheduledeterminedbyregulationormarketpractice."Tradingday"meansthedateonwhichtheCompanycommitstobuyorsellfinancialassets.
(2)ClassificationandmeasurementoffinancialassetsIntheinitialrecognition,theCompanyclassifiesthefinancialassetsasfinancialassetsmeasuredattheamortizedcost,financialassetsmeasuredatfairvalueandthechangesarerecordedintotheprofitsandlossesofthecurrentfinancialassets,andfinancialassetsmeasuredatfairvalueandthechangesareincludedinthefinancialassetsofothercomprehensiveincomeaccordingtothebusinessmodelformanagingfinancialassetsandthecontractual
cashflowcharacteristicsofthefinancialassets.FinancialassetsshallnotbereclassifiedafterinitialrecognitionunlesstheCompanychangesitsbusinessmodelformanagingfinancialassets,inwhichcaseallaffectedrelevantfinancialassetsshallbereclassifiedonthefirstdayofthefirstreportingperiodfollowingthechangeinbusinessmodel.Financialassetsaremeasuredatfairvaluewhentheyareinitiallyrecognized.Forthefinancialassetsmeasuredatfairvalueandwhosechangesareincludedinthecurrentprofitsandlosses,therelatedtransactioncostsaredirectlyincludedinthecurrentprofitsandlosses,andtherelatedtransactioncostsofothertypesoffinancialassetsareincludedintheinitiallyrecognizedamount.Fornotesreceivableandaccountsreceivablethataregeneratedbythesaleofgoodsortherenderingofservicesanddonotincludeortakeintoaccountamaterialfinancingcomponent,theCompanywillinitiallymeasuretheminaccordancewiththetransactionpriceasdefinedbytherevenuestandards.Subsequentmeasurementoffinancialassetsdependsontheirclassification:
①FinancialassetsmeasuredatamortizedcostFinancialassetssimultaneouslymeetthefollowingconditionsareclassifiedasfinancialassetsmeasuredatamortizedcost.TheCompany'sbusinessmodelformanagingthefinancialassetsistocollectcontractcashflows;thecontracttermsofthefinancialassetsstipulatethatthecashflowsgeneratedataspecificdateareonlypaymentofprincipalandinterestbasedontheamountofoutstandingprincipal.Forsuchfinancialassets,theeffectiveinterestmethodisusedforfollow-upmeasurementbytheamortizedcost,anditsterminationofrecognition,andtheprofitorlossarisingfromamortizationandimpairmentbytheeffectiveinterestratemethodareincludedintheprofitsandlossesofthecurrentperiod.
②FinancialassetsmeasuredatfairvalueandtheirchangesareincludedinothercomprehensiveincomeFinancialassetssimultaneouslymeetthefollowingconditionsareclassifiedasfinancialassetsmeasuredatfairvalueandwhosechangesareincludedinothercomprehensiveincome.TheCompany'sbusinessmodelformanagingthefinancialassetsisnotonlytocollectcontractcashflowsbutalsotosellthefinancialasset;thecontractualtermsofthefinancialassetsstipulatethatthecashflowsgeneratedataspecificdateareonlypaymentofprincipalandinterestontheamountofoutstandingprincipal.Forsuchfinancialassets,thefairvalueisusedforsubsequentmeasurement.Excepttheimpairmentlossorgainandtheexchangegainorlossarerecognizedascurrentprofitsandlosses,thechangesinfairvalueofsuchfinancialassetsarerecognizedasothercomprehensiveincomeuntiltheterminationofrecognitionofthefinancialassets,theaccumulatedgainsorlossesaretransferredintothecurrentprofitsandlosses.However,therelevantinterestincomeofthefinancialassetcalculatedbyusingtheeffectiveinterestratemethodisincludedintheprofitandlossofthecurrentperiod.TheCompanyirrevocablyselectpartofnon-transactionalequityinstrumentinvestmenttobedesignatedasfinancialassetsmeasuredatfairvalueandwhosechangesareincludedinothercomprehensiveincome,onlytherelevantdividendincomeisrecordedintotheprofitsandlossesofthecurrentperiod,fairvaluechangesare
recognizedasothercomprehensiveincome,andthecumulativeprofitsorlossesaretransferredintoretainedearningsuntiltheterminationofrecognitionofthefinancialassets.
③FinancialassetsmeasuredatfairvalueandwhosechangesareincludedincurrentprofitsandlossesFinancialassetsinadditiontotheabovefinancialassetsmeasuredatamortizedcostandfinancialassetsmeasuredatfairvalueandwhosechangesareincludedinothercomprehensiveincomeareclassifiedasfinancialassetsmeasuredatfairvalueandwhosechangesareincludedincurrentprofitsandlosses.Forsuchfinancialassets,thefairvalueisusedforsubsequentmeasurement,andallchangesinfairvalueareincludedinthecurrentprofitsandlosses.
(3)ClassificationandmeasurementoffinancialliabilitiesTheCompanyclassifiesthefinancialliabilitiesasfinancialliabilitiesmeasuredatfairvalueandwhosechangesareincludedintheprofitsandlossesofthecurrentperiod,loancommitmentandfinancialguaranteecontractliabilitiesbelowmarketinterestrateloans,andfinancialliabilitiesmeasuredatamortizedcost.Thesubsequentmeasurementofafinancialliabilitydependsonitsclassification:
①FinancialliabilitiesmeasuredatfairvalueandwhosechangesareincludedintheprofitsandlossesofthecurrentperiodSuchfinancialliabilitiesincludetradablefinancialliabilities(includingderivativesbelongingtofinancialliabilities)andfinancialliabilitiesdesignatedtobemeasuredatfairvalueandwhosechangesareincludedincurrentprofitsandlosses.Afterinitialrecognition,thefairvalueisusedforsubsequentmeasurementforsuchfinancialliabilities.Exceptforthoserelatedtothehedgeaccounting,theprofitsorlosses(includinginterestexpense)generatedarerecordedintothecurrentprofitsandlosses.However,forthefinancialliabilitiesdesignatedbytheCompanytobemeasuredatfairvalueandwhosechangesareincludedintheprofitsandlossesofthecurrentperiod,theamountofchangesinthefairvalueofthefinancialliabilitiescausedbychangesinitsowncreditriskisincludedinothercomprehensiveincome,attheterminationofrecognitionofthefinancialliabilities,theaccumulatedgainsandlossespreviouslyincludedinothercomprehensiveincomeshallbetransferredfromothercomprehensiveincomeandincludedinretainedearnings.
②LoancommitmentandfinancialguaranteecontractliabilitiesAloancommitmentisanundertakingprovidedbytheCompanytothecustomertoissuealoantothecustomerwithinthecommitmentperiodonthetermsoftheestablishedcontract.Theimpairmentlossoftheloancommitmentissetdowninaccordancewiththeexpectedcreditlossmodel.AfinancialguaranteecontractisacontractthatrequirestheCompanytopayaspecifiedamountofmoneytothecontractholderwhosuffersalosswhentheparticulardebtorisunabletopaythedebtinaccordancewiththeoriginalormodifiedtermsofthedebtinstrumentatmaturity.Financialguaranteecontractliabilitiesshallbemeasuredinaccordancewiththeimpairmentprincipleoffinancialinstrumentsdeterminedinaccordancewiththelossprovisionandinitialrecognitionoftheamountofthebalanceoftheaccumulatedamortizationdeterminedin
accordancewiththeincomerecognitionprinciple.
③FinancialliabilitiesmeasuredatamortizedcostAfterinitialrecognition,otherfinancialliabilitiesaremeasuredatamortizedcostbyusingtheeffectiveinterestratemethod.Exceptinspecialcircumstances,financialliabilitiesandequityinstrumentsaredistinguishedaccordingtothefollowingprinciples:
①AcontractualobligationmeetsthedefinitionofafinancialliabilityiftheCompanycannotunconditionallyrefrainfromperformingitbypayingcashorotherfinancialassets.Althoughsomefinancialinstrumentsdonotexplicitlycontaintermsandconditionsfortheobligationtodelivercashorotherfinancialassets,itispossibletoindirectlyformcontractualobligationsthroughothertermsandconditions.
②IfafinancialinstrumenthastouseorcanusetheCompany'sownequityinstrumentforsettlement,considerationneedstobegiventowhethertheCompany'sownequityinstrumentusedtosettletheinstrumentistobeusedasasubstituteforcashorotherfinancialassetsortogivetheowneroftheinstrumentaresidualinterestintheissuer'sassetsafterallliabilitieshavebeendeducted.Intheformercase,theinstrumentisafinancialliabilityoftheissuer;Inthelattercase,theinstrumentisanequityinstrumentoftheissuer.Insomecases,afinancialinstrumentcontractrequiresthattheCompanyhastouseorcanuseitsownequityinstrumenttosettlethefinancialinstrument,ofwhichtheamountofcontractualrightsorcontractualobligationsisequaltothenumberofitsownequityinstrumentsavailableordeliveredmultiplyingitsfairvalueatthesettlement,nomattertheamountofthecontractrightsorobligationsarefixedorarebased,inwholeorinpart,onchangesinvariables(suchasinterestrates,thepriceofacommodityorthepriceofafinancialinstrument)otherthanthemarketpriceoftheCompany’sownequityinstruments,thecontractisclassifiedasafinancialliability.
(4)DerivativefinancialinstrumentsandembeddedderivativeinstrumentsDerivativefinancialinstrumentsareinitiallymeasuredatthefairvalueofthedateonwhichthederivativetransactioncontractissigned,andaresubsequentlymeasuredattheirfairvalue.Aderivativefinancialinstrumentwithapositivefairvalueisrecognizedasanasset;andaderivativefinancialinstrumentwithanegativefairvalueisrecognizedasaliability.Excepttheeffectivepartofthehedgeinthecashflowhedgingisincludedinothercomprehensiveincomeandtransferredoutintothecurrentprofitandlosswhenthehedgeditemaffectstheprofitandloss,theprofitorlossgeneratedbythechangeofthefairvalueofthederivativeinstrumentshallbedirectlyincludedintheprofitsandlossesofthecurrentperiod.Forhybridinstrumentscontainingembeddedderivatives,ifthemaincontractisafinancialasset,thehybridinstrumentsasawholeapplytotherelevantprovisionsontheclassificationoffinancialassets.Ifthemain
contractisnotafinancialasset,andthehybridinstrumentsarenotmeasuredatfairvalueandthechangesarerecordedintothecurrentprofitsandlossesforaccountingtreatment,theembeddedderivativeshavenocloserelationshipwiththemaincontractineconomiccharacteristicsandrisks,andtheinstrumentwiththesameconditionsastheembeddedderivativesandexistingalonesatisfiesthedefinitionofderivatives,theembeddedderivativesshallbesplitfromthehybridinstrumentsandhandledasanindividualderivativefinancialinstrument.Ifthefairvalueoftheembeddedderivativeontheacquisitiondateoronthesubsequentbalancesheetdatecannotbemeasuredseparately,thehybridinstrumentsasawholeshallbedesignatedasafinancialassetorfinancialliabilitymeasuredatfairvalueandwhosechangesarerecordedintheprofitsandlossesofthecurrentperiod.
(5)ImpairmentoffinancialinstrumentsForfinancialassetsmeasuredatamortizedcost,debtinvestmentmeasuredatfairvalueandwhosechangesareincludedinothercomprehensiveincome,contractassets,leasereceivables,loancommitmentsandfinancialguaranteecontract,theCompanyrecognizeslossprovisionsonthebasisofexpectedcreditlosses.
①MeasurementofexpectedcreditlossesExpectedcreditlossreferstotheweightedaverageofthecreditlossofafinancialinstrumentweightedbytheriskofdefault.CreditlossreferstothedifferencebetweenallcontractualcashflowsreceivableunderthecontractandallcashflowsexpectedtobereceivedbytheCompanydiscountedattheoriginaleffectiveinterestrate,namely,thepresentvalueofallcashshortfalls.Amongthem,thefinancialassetspurchasedorgeneratedbytheCompanywhichhavecreditimpairmentshallbediscountedaccordingtothecreditadjustedeffectiveinterestrateofthefinancialassets.Theexpectedcreditlossovertheentiredurationreferstotheexpectedcreditlossduetoallpossibledefaulteventsthatmayoccurduringtheentireexpecteddurationofafinancialinstrument.Expectedcreditlossinthenext12monthsreferstotheexpectedcreditlossresultingfromthedefaulteventofafinancialinstrumentthatmayoccurwithin12monthsafterthebalancesheetdate(ortheexpecteddurationiftheexpecteddurationofthefinancialinstrumentislessthan12months),andisapartoftheexpectedcreditlossovertheentireduration.Ateachbalancesheetdate,theCompanymeasurestheexpectedcreditlossesoffinancialinstrumentsatdifferentstagesofdevelopmentseparately.Ifthecreditriskofthefinancialinstrumenthasnotincreasedsignificantlysincetheinitialrecognition,itshallbeinthefirststageandtheCompanyshallmeasurethelossprovisionsaccordingtotheexpectedcreditlossinthenext12months;Wherethecreditriskofafinancialinstrumenthasincreasedsignificantlysincetheinitialrecognitionbutnocreditimpairmenthasoccurred,thefinancialinstrumentshallbeinthesecondstage,andtheCompanyshallmeasurethelossprovisionsinaccordancewiththeexpectedcreditlossoftheinstrumentthroughoutitslifetime;Whereafinancialinstrumenthassufferedcreditimpairmentsinceitsinitialrecognition,itshallbeinthethirdstage,andtheCompanyshallmeasurethelossprovisionsin
accordancewiththeexpectedcreditlossfortheentiredurationoftheinstrument.Forfinancialinstrumentswithlowcreditriskatthebalancesheetdate,theCompanyassumesthatthecreditriskhasnotincreasedsignificantlysincetheinitialrecognitionandmeasuresthelossprovisionsinaccordancewiththeexpectedcreditlossinthenext12months.TheCompanycalculatestheinterestincomeforfinancialinstrumentsinthefirstandsecondstagesandwithlowcreditriskonthebasisoftheirbookbalanceandtheactualinterestratewithoutdeductionofimpairmentprovision.Forafinancialinstrumentinthethirdstage,theinterestincomeiscalculatedonthebasisofthebookbalanceminustheamortizedcostandtheactualinterestrateaftertheprovisionforimpairment.Fornotesreceivable,accountsreceivable,receivablesfinancingandcontractualassets,whetherornotthereisasignificantfinancingcomponent,theCompanymeasureslossprovisionsinaccordancewiththeexpectedcreditlossesovertheentireduration.A.Receivables/ContractualassetsFornotesreceivable,accountsreceivable,otherreceivables,receivablesfinancing,contractassetsandlong-termreceivablesthathaveobjectiveevidenceindicatingtheexistenceofimpairmentandareapplicabletosingleevaluation,implementimpairmenttestseparately,recognizeexpectedcreditlosses,andsetasidesingleimpairmentreserves.Fornotesreceivable,accountsreceivable,otherreceivables,receivablesfinancing,contractualassetsandlong-termreceivablesthathaveobjectiveevidenceofimpairment,orwhenthesinglefinancialassetscannotassesstheexpectedcreditlossesatreasonablecosts,theCompanydividesnotesreceivable,accountsreceivable,otherreceivables,receivablesfinancing,contractualassetsandlong-termreceivablesintoseveralportfoliosbasedoncreditriskcharacteristics,andcalculatestheexpectedcreditlossonthebasisoftheportfolios,andtheportfolioisdeterminedonthefollowingbasis:
Thebasisfordeterminingtheportfolioofnotesreceivableisasfollows:
Notesreceivableportfolio1CommercialacceptancebillNotesreceivableportfolio2Bank’sacceptancebillFornotesreceivabledividedintoportfolios,theCompanycalculatestheexpectedcreditlossbyreferringtothehistoricalcreditlossexperience,combiningthecurrentsituationandtheforecastoffutureeconomicconditions,andthroughdefaultriskexposureandtheexpectedcreditlossrateoftheentireduration.Theportfolioofaccountsreceivableisdeterminedasfollows:
Accountsreceivableportfolio1AgingportfolioAccountsreceivableportfolio2JewelrysalesportfolioForaccountsreceivabledividedintoportfolio,theCompanyreferstothehistoricalcreditlossexperience,
combinesthecurrentsituationandtheforecastofthefutureeconomicsituation,preparesacomparisontableoftheagingaccountreceivableandtheexpectedcreditlossrateoftheentireduration,andcalculatestheexpectedcreditloss.Theportfolioofotherreceivablesisdeterminedonthefollowingbasis:
Otherreceivablesportfolio1InterestreceivableOtherreceivablesportfolio2DividendsreceivableOtherreceivablesportfolio3AgingportfolioOtherreceivablesportfolio4DepositreceivableandcashdepositportfolioOtherreceivablesportfolio5RelatedportfoliowithintheconsolidationscopeofreceivablesForotherreceivablesdividedintoportfolios,theCompanycalculatestheexpectedcreditlossbyreferringtothehistoricalcreditlossexperience,combiningthecurrentsituationandtheforecastoffutureeconomicconditions,andthroughdefaultriskexposureandtheexpectedcreditlossratewithinthenext12monthsandovertheentireduration.Thebasisfordeterminingtheportfoliooflong-termreceivablesisasfollows:
Long-termreceivablesportfolio1OtherreceivablesForthelong-termreceivablesdividedintoPortfolio1,theCompanycalculatestheexpectedcreditlossbyreferringtothehistoricalcreditlossexperience,combiningthecurrentsituationandtheforecastoffutureeconomicconditions,andthroughdefaultriskexposureandtheexpectedcreditlossrateovertheentireduration.B.BondinvestmentandotherbondinvestmentWithrespecttobondinvestmentsandotherbondinvestments,theCompanycalculatestheexpectedcreditlossesinaccordancewiththenatureoftheinvestmentandthevarioustypesofcounterpartiesandriskexposuresandtheexpectedcreditlossratesinthenext12monthsorovertheentireduration.
②LowcreditriskIfafinancialinstrumenthaslowcreditrisk,thetheborrowerhasastrongabilitytofulfillitscontractualcashflowobligationsintheshortterm,andevenadversechangesintheeconomicsituationandoperatingenvironmentoveralongerperiodmaynotnecessarilyreducetheborrower'sabilitytofulfillitscontractualcashflowobligations,thefinancialinstrumentshallberegardedasalowercreditrisk.
③CreditriskincreasessignificantlyTheCompanydeterminestherelativechangesintheprobabilityofdefaultovertheexpecteddurationofafinancialinstrumentandevaluateswhetherthecreditriskofthefinancialinstrumentshasincreasedsignificantlysincetheinitialrecognitionbycomparingtheprobabilityofdefaultovertheexpecteddurationofafinancialinstrumentasdeterminedatthebalancesheetdateandtheprobabilityofdefaultovertheexpecteddurationasdeterminedatthetimeofinitialrecognition.
Whendeterminingwhetherthecreditriskhasincreasedsignificantlysincetheinitialrecognition,theCompanyconsidersreasonableandevidence-basedinformation,includingforward-lookinginformation,thatisavailablewithoutunnecessaryadditionalcostoreffort.InformationconsideredbytheCompanyincludes:
A.Whethertheinternalpriceindexhaschangedsignificantlyduetothechangeofcreditrisk;B.Adversechangesinbusiness,financeoreconomicconditionsthatareexpectedtoresultinasignificantchangeintheabilityofthedebtortomeetitsdebtserviceobligations;C.Whetherthereisanactualorexpectedsignificantchangeinthedebtor'soperatingresults;Whethertherehasbeenasignificantadversechangeintheregulatory,economicortechnologicalenvironmentofthedebtor;D.Whethertherehasbeenasignificantchangeinthevalueofthecollateralsecuredascollateralizeddebtobligationsorinthequalityoftheguaranteesorcreditenhancementsprovidedbythirdparties.Thesechangesareexpectedtoreducetheeconomicincentiveofthedebtortorepaywithinthecontractualperiodoraffecttheprobabilityofdefault;E.Whethertherearesignificantchangesintheeconomicincentivesthatareexpectedtoreducetheeconomicincentiveofthedebtortorepaywithinthecontractualperiod;F.Expectedchangesintheloancontractincludewhetherananticipatedbreachofcontractmightresultinexemptionorrevisionofcontractualobligations,grantofinterestfreeperiods,jumpininterestrates,requestforadditionalcollateralorguarantee,orotherchangestothecontractualframeworkofthefinancialinstrument;G.Whetherthereisasignificantchangeinthedebtor'sexpectedperformanceandrepaymentbehavior;H.Whetherthecontractpaymentisoverdueformorethan(including)30days.Basedonthenatureofthefinancialinstruments,theCompanyassesseswhetherthecreditriskhasincreasedsignificantlyonthebasisofindividualfinancialinstrumentsoraportfoliooffinancialinstruments.Whenassessingonthebasisofaportfoliooffinancialinstruments,theCompanymayclassifythefinancialinstrumentsbasedoncommoncreditriskcharacteristics,suchasoverdueinformationandcreditriskratings.Typically,ifitisoverdueformorethan30days,theCompanydeterminesthatthecreditriskoffinancialinstrumentshasincreasedsignificantly.UnlesstheCompanydoesnotneedtopaytoomuchcostoreffortandcanobtainreasonableandwell-foundedinformation,whichdemonstratesthatalthoughthepaymentisoverduefor30days,thecreditriskhasnotbeensignificantlyincreasedsincetheinitialrecognition.
④FinancialassetswhosecreditimpairmenthasoccurredOnthebalancesheetdate,theCompanyassesseswhethercreditimpairmenthasoccurredinthefinancialassetsmeasuredatamortizedcostandthedebtinvestmentmeasuredatfairvalueandthechangesofwhichareincludedinothercomprehensiveincome.Whenoneormoreeventsthathaveanadverseeffectontheexpectedfuturecashflowofafinancialassetoccur,thefinancialassetbecomesafinancialassetwhosecreditimpairmenthasoccurred.Evidenceindicatingthatacreditimpairmenthasoccurredonafinancialassetincludesthefollowingobservableinformation:
Thecreditor,foreconomicorcontractualreasonsrelatingtothedebtor'sfinancialdifficulties,givesthedebtorconcessionsthatwouldnothavebeenmadeinanyothercircumstances;Theissuerorthedebtorhassignificantfinancialdifficulties;Thedebtorbreachesthecontract,suchasdefaultoroverduepaymentofinterestorprincipal;Thecreditor,foreconomicorcontractualreasonsrelatingtothedebtor'sfinancialdifficulties,givesthedebtorconcessionsthatwouldnothavemadeinanyothercircumstances;Thedebtorislikelytogobankruptorundergootherfinancialrestructuring;Thefinancialdifficultiesoftheissuerordebtorleadtothedisappearanceoftheactivemarketforthefinancialasset;Purchaseororiginateafinancialassetatasubstantialdiscountthatreflectsthefactthatacreditlosshasoccurred.
⑤PresentationofprovisionsforexpectedcreditlossesInordertoreflectthechangeofthecreditriskoffinancialinstrumentssincetheinitialrecognition,theCompanyshallre-measuretheexpectedcreditlossoneachbalancesheetdate,andtheresultingincreaseorreversalamountofthelossprovisionsshallberecordedintothecurrentprofitandlossasimpairmentlossorgain.Forafinancialassetmeasuredatamortizedcost,thelossprovisionisoffsetagainstthecarryingvalueofthefinancialassetasshowninthebalancesheet;Foradebtinvestmentmeasuredatfairvalueandwhosechangesareincludedinothercomprehensiveincome,theCompanyshallrecognizeitslossprovisioninothercomprehensiveincomeandshallnotoffsetthecarryingvalueofthefinancialasset.
⑥Write-offIftheCompanynolongerreasonablyexpectsthecontractcashflowofthefinancialassettoberecoveredinwholeorinpart,thebookbalanceofthefinancialassetshallbewrittendowndirectly.Suchwrite-downconstitutestheterminationofrecognitionoftheunderlyingfinancialasset.ThisusuallyoccurswhentheCompanydeterminesthatthedebtorhasnoassetsorsourcesofincomewhichwillgeneratesufficientcashflowtorepaytheamounttobewrittendown.Ifthewrite-downfinancialassetisrecoveredlater,theimpairmentlossshallbereversedandincludedintheprofitsandlossesoftherecoveryperiod.
(6)TransferoffinancialassetsTransferoffinancialassetsreferstothefollowingtwosituations:
A.Transferthecontractualrighttoreceivethecashflowofthefinancialassettoanotherparty;B.Transferthefinancialassetinwholeorinparttoanotherparty,butretainthecontractualrighttoreceivethecashflowofthefinancialassetandthecontractualobligationtopaythecashflowreceivedtooneormorepayees.
①TerminatetherecognitionoftransferredfinancialassetsWherealmostallrisksandrewardsofownershipofafinancialassethavebeentransferredtothetransferee,oralmostallrisksandrewardsofownershipofafinancialassethavebeenneithertransferrednorretained,butthecontroloverthefinancialassethasbeenrelinquished,recognitionofthefinancialassetshallbeterminated.
Whenjudgingwhetherthecontrolofthetransferredfinancialassethasbeengivenup,basedontheactualabilityofthetransfereetosellthefinancialasset,ifthetransfereecanunilaterallysellthetransferredfinancialassetasawholetoanunrelatedthirdpartywithnoadditionalconditionsrestrictingsuchsale,itmeansthattheCompanyhasgivenupitscontroloverthefinancialasset.TheCompanypaysattentiontotheessenceoffinancialassettransferwhenjudgingwhetherthetransferoffinancialassetsmeetstheconditionsfortheterminationofrecognitionoffinancialasset.Wheretheoveralltransferoffinancialassetsmeetstheconditionsforterminationofrecognition,thedifferencebetweenthefollowingtwoamountsshallberecordedintotheprofitsandlossesofthecurrentperiod:
A.Bookvalueofthetransferredfinancialassets;B.Thesumoftheconsiderationreceivedduetothetransferandtheamountfortheterminationofrecognitionpartinthecumulativeamountofchangesinfairvaluedirectlyincludedinothercomprehensiveincome(ThefinancialassetsinvolvedintransferarefinancialassetsthataremeasuredatfairvalueandtheirchangesareincludedinothercomprehensiveincomeaccordingtoArticle18ofAccountingStandardsforBusinessEnterprisesNo.22-RecognitionandMeasurementofFinancialInstruments).Whenthepartialtransferofafinancialassetmeetsthecriteriaforrecognitionoftermination,theentirebookvalueofthetransferredfinancialassetshallbeapportionedbetweentheportionwhoserecognitionisterminatedandtheportionwhoserecognitionisnotterminated(inthiscase,thereservedserviceassetsshallberegardedasapartofthefinancialassetscontinuedtoberecognized)inaccordancewiththerespectiverelativefairvalueonthetransferday,andthebalancebetweenthefollowingtwoamountsshallberecordedintotheprofitsandlossesofthecurrentperiod:
A.Bookvalueofthetheportionwhoserecognitionisterminatedonthedateofterminationofrecognition;B.Thesumoftheconsiderationoftheportionwhoserecognitionhasbeenterminatedandtheamountfortheterminationofrecognitionpartinthecumulativeamountofchangesinfairvaluedirectlyincludedinothercomprehensiveincome(ThefinancialassetsinvolvedintransferarefinancialassetsthataremeasuredatfairvalueandtheirchangesareincludedinothercomprehensiveincomeaccordingtoArticle18ofAccountingStandardsforBusinessEnterprisesNo.22-RecognitionandMeasurementofFinancialInstruments).
②ContinuedinvolvementinthetransferredfinancialassetsWherealmostalltherisksandrewardsofownershipofthefinancialassetareneithertransferrednorretained,controloverthefinancialassethasnotbeenrelinquished,therelevantfinancialassetshallberecognizedinaccordancewiththeextentofitscontinuedinvolvementinthetransferredfinancialassetandtherelevantliabilitiesshallberecognizedaccordingly.Theextentofcontinuedinvolvementinthetransferredfinancialassetsreferstotheextenttowhichtheenterprisebearstheriskorrewardofchangesinthevalueofthetransferredfinancialassets.
③ContinuetorecognizethetransferredfinancialassetsWherealmostalltherisksandrewardsoftheownershipofthetransferredfinancialassetarestillretained,thetransferredfinancialassetasawholeshallcontinuetoberecognizedandtheconsiderationreceivedshallberecognizedasafinancialliability.Thefinancialassetsandtherelevantfinancialliabilitiesrecognizedshallnotoffseteachother.Inthesubsequentaccountingperiod,theenterpriseshallcontinuetorecognizetheincome(orgain)generatedbythefinancialassetandtheexpense(orloss)generatedbythefinancialliability.
(7)OffsetoffinancialassetsandfinancialliabilitiesFinancialassetsandfinancialliabilitiesshallbeshownseparatelyinthebalancesheetandshouldnotbesetoffagainsteachother.However,ifthefollowingconditionsaremetatthesametime,thenetamountaftermutualoffsetshallbepresentedinthebalancesheet:
TheCompanyhasthelegalrighttooffsettherecognizedamount,andsuchlegalrightiscurrentlyenforceable;TheCompanyplansanetsettlement,orcashesthefinancialassetandliquidatesthefinancialliabilityatthesametime.Ifthetransferoffinancialassetsdoesnotmeettheconditionsforterminationofrecognition,thetransferringpartyshallnotoffsetthetransferredfinancialassetsandrelatedliabilities.
(8)DeterminationmethodofthefairvalueoffinancialinstrumentsFairvaluereferstothepricethatthemarketparticipantscanreceivebysellinganassetorneedtopayfortransferringaliabilityinorderlytransactionsoccurredonthemeasurementday.TheCompanymeasuresthefairvalueoftherelevantassetsorliabilitiesatthepricesinthemainmarket.Ifthereisnomainmarket,theCompanymeasuresthefairvalueoftherelevantassetsorliabilitiesatthepricesinthemostfavorablemarket.TheCompanyadoptstheassumptionsusedbymarketparticipantsinpricingsuchassetorliabilityinordertomaximizetheireconomicbenefits.Themainmarketreferstothemarketwiththelargesttradingvolumeandthehighesttradingactivitydegreeofrelatedassetsorliabilities.ThemostfavorablemarketreferstothemarketinwhichtherelevantassetscanbesoldforthehighestamountortherelatedliabilitiescanbetransferredforthelowestamountafterconsideringtransactioncostsandtransportationcostsForfinancialassetsorfinancialliabilitieswithactivemarket,theCompanydeterminestheirfairvaluebyusingquotationsinactivemarket.Wherethereisnoactivemarketforfinancialinstruments,theCompanyshallusevaluationtechniquestodeterminetheirfairvalue.Ifnon-financialassetsaremeasuredatfairvalue,theabilityofmarketparticipantstoproduceeconomicbenefits
byusingtheassetsforthebestuse,ortheabilitytoproduceeconomicbenefitsbysellingtheassetstoothermarketparticipantswhocanusetheassetsforthebestuseshallbeconsidered.
①ValuationtechniqueTheCompanyadoptsthevaluationtechniquesapplicabletothecurrentsituationandsupportedbysufficientavailabledataandotherinformation.Thevaluationtechniquesusedmainlyincludethemarketmethod,therevenuemethodandthecostmethod.TheCompanyusesthemethodconsistentwithoneormultiplevaluationtechniquestomeasurethefairvalue.Ifmultiplevaluationtechniquesareusedtomeasurethefairvalue,theCompanyshallconsidertherationalityofthevaluationresultsandselecttheamountthatbestrepresentsthefairvalueinthecurrentsituationasthefairvalue.TheCompanyprioritizestheuseofrelevantobservableinputsintheapplicationofvaluationtechniques,andusesunobservableinputsonlywhenrelevantobservableinputscannotbeobtainedorarenotfeasibletoobtain.Observableinputvaluesarethosethatcanbeobtainedfrommarketdata.Theinputvaluereflectstheassumptionsusedbymarketparticipantsinpricingtheunderlyingassetorliability.Unobservableinputvaluesarethosethatcannotbeobtainedfrommarketdata.Theinputvalueisderivedfromthebestavailableinformationabouttheassumptionsusedbymarketparticipantsinpricingtheunderlyingassetorliability.
②FairvaluelevelsTheCompanydividestheinputvalueusedforfairvaluemeasurementintothreelevels,andusestheinputvalueofthefirstlevelfirst,andthenusestheinputvalueofthesecondlevel,andtheinputvalueofthethirdlevellast.Thefirst-levelinputvaluesaretheunadjustedquotationsintheactivemarketforthesameassetorliabilitythatcanbeobtainedatthemeasurementdate.Thesecond-levelinputvaluesarethedirectlyorindirectlyobservableinputvaluesoftheunderlyingassetorliabilityinadditiontothefirst-levelinputvalues.Thethird-levelinputvaluesaretheunobservableinputvaluesoftheunderlyingassetorliability.
11.Inventory
(1)ClassificationInventoryincludesfinishedproductsorcommoditiesheldforsaleindailyactivities,productsintheproductionprocess,materialsandsuppliesconsumedintheproductionprocessortheprocessofprovidinglaborservices,etc.,includingrawmaterials,inventorygoods,goodssoldonconsignmentandworkingcapitalmaterials.
(2)ValuationmethodsfordeliveryofinventoryThedeliveryofinventoryshallbepricedindividuallyonafirst-in,first-outbasis.
(3)InventorysystemInventoryoftheCompanyisinventoriedonaperpetualbasis.Andtheinventoryistakenatleastonceayearandamountofgains/lossesisrecognizedingains/lossesfortheyear.
(4)HowtosetasidetheinventorywritedownOnthebalancesheetdate,itshallbemeasuredatthelowerofcostandnetrealizablevalue.Iftheinventorycostishigherthanthenetrealizablevalue,setasidetheinventorywritedownandrecorditintotheprofitandlossofthecurrentperiod.Thenetrealizablevalueoftheinventoryshallbedeterminedonthebasisofreliableevidenceobtained,andfactorssuchasthepurposeforwhichtheinventoryisheldandtheimpactofeventsafterthebalancesheetdateshallbetakenintoaccount.
①Thenetrealizablevalueoftheinventorydirectlyusedforsale,suchasfinishedproducts,commoditiesandmaterialsforsale,shallbedeterminedinthenormalprocessofproductionandoperationbydeductingtheestimatedsellingcostandrelevanttaxesfromtheestimatedsellingpriceoftheinventory.Forinventoriesheldfortheexecutionofsalescontractsorservicecontracts,thecontractpriceshallbeusedasthemeasurementbasisforthenetrealizablevalue;Ifthequantityofinventoryheldexceedsthequantityorderedunderthesalescontract,thenetrealizablevalueoftheexcessinventoryshallbemeasuredonthebasisofthegeneralsalesprice.Themarketpriceshallbeusedasthemeasurementbasisforthenetrealizablevalueofthematerialsforsale,etc.
②Thenetrealizablevalueoftheinventoryofmaterialstobeprocessedisdeterminedbytheamountafterdeductingtheestimatedcost,estimatedsellingexpensesandrelevanttaxesandfeesatthetimeofcompletionfromtheestimatedsellingpriceofthefinishedproducts.Ifthenetrealizablevalueofthefinishedproductproducedbyitishigherthanthecost,thematerialshallbemeasuredatcost;Ifthedeclineinthepriceofamaterialindicatesthatthenetrealizablevalueofthefinishedproductislessthanthecost,thematerialismeasuredatthenetrealizablevalueandinventorywritedownissetasidebasedonthedifference.
③Thereserveforinventorywritedownisgenerallysetasideasasingleinventoryitem.Fortheinventorywithlargequantityandlowunitprice,itshallbesetasidebyinventorytype.
④Onthebalancesheetdate,iftheinfluencingfactorsofthepreviouswrite-downoftheinventoryvaluehavedisappeared,thewrite-downamountshallberestored,andtheamountshallbereversedwithintheoriginalamountoftheinventorywritedown,andthereversedamountshallberecordedintotheprofitsandlossesofthecurrentperiod.
12.ContractualassetsandliabilitiesTheCompanylistscontractualassetsorcontractualliabilitiesinthebalancesheetbasedontherelationshipbetweenperformanceobligationsandcustomerpayments.TheconsiderationtowhichtheCompanyisentitledtoreceiveforthegoodsorservicesithastransferredtothecustomer(andtherightdependsonfactorsotherthanthepassageoftime)islistedascontractualassets.Thecompany'sobligationstotransfergoodsorprovideservicesto
customersforwhichconsiderationhasbeenreceivedorreceivablearelistedascontractualliabilities.TheCompany'sdeterminationmethodandaccountingtreatmentmethodonexpectedcreditlossofcontractassetsaredetailedinNotesV.10.Contractualassetsandcontractualliabilitiesshallbelistedseparatelyinthebalancesheet.Thecontractualassetsandcontractualliabilitiesunderthesamecontractarelistedasnetamount.Ifthenetamountisthedebitbalance,itshallbelistedundertheitem"ContractualAssets"or"OtherNon-currentAssets"accordingtoitsliquidity;Ifthenetamountisthenetcreditbalance,itshallbelistedunderthe"ContractualLiabilities"or"OtherNon-currentliabilities"accordingtoitsliquidity.Contractualassetsandcontractualliabilitiesunderdifferentcontractscannotoffseteachother.
13.ContractcostContractcostisdividedintocontractperformancecostandcontractacquisitioncost.ThecostincurredbytheCompanyfortheperformanceofthecontractisrecognizedasanassetastheperformancecostofthecontractwhenthefollowingconditionsaremetsimultaneously:
①Thecostisdirectlyrelatedtoacurrentorexpectedcontract,includingdirectlabor,directmaterials,manufacturingexpenses(orsimilarexpenses),costsexpresslybornebythecustomerandothercostsincurredsolelyasaresultofthecontract.
②ThiscostincreasestheCompany'sresourcesforfutureperformanceobligations.
③Thecostisexpectedtoberecouped.IftheincrementalcostincurredbytheCompanytoacquirethecontractisexpectedtoberecovered,itshallberecognizedasanassetasthecontractacquisitioncost.Assetsrelatedtocontractcostsareamortizedonthesamebasisasrevenuerecognitionforthegoodsorservicesrelatedtotheassets,however,iftheamortizationperiodofthecontractacquisitioncostdoesnotexceedoneyear,theCompanywillrecorditintothecurrentprofitandlosswhenitoccurs.Ifthecarryingvalueoftheassetsrelatedtothecontractcostishigherthanthedifferencebetweenthefollowingtwoitems,theCompanywillsetasideimpairmentreservesoftheexcesspartandrecognizeitasimpairmentlossoftheasset,andfurtherconsiderwhethertosetasideprovisionfortheexpectedliabilitiesrelatedtothelosscontract:
①Theremainingconsiderationexpectedtobeobtainedfromthetransferofgoodsorservicesrelatedtotheasset;
②Costestimatedtobeincurfortransferringtherelatedgoodsorservices.
Iftheaforesaidassetimpairmentprovisionissubsequentlyreversed,thecarryingvalueoftheassetafterthereversalshallnotexceedthecarryingvalueoftheassetonthereversaldateundertheassumptionthatnoimpairmentprovisionismade.Contractperformancecostsrecognizedasassetswhoseamortizationperiodattheinitialrecognitiondoesnotexceedoneyearoronenormaloperatingcycleshallbelistedintheitem"Inventory",andthosewhoseamortizationperiodattheinitialrecognitionexceedoneyearoronenormaloperatingcycleshallbelistedintheitem"OtherNon-currentAssets".Contractacquisitioncostsrecognizedasassetswhoseamortizationperiodattheinitialrecognitiondoesnotexceedoneyearoronenormaloperatingcycleshallbelistedintheitem"OtherCurrentAssets",andthosewhoseamortizationperiodattheinitialrecognitionexceedsoneyearoronenormaloperatingcycleshallbelistedintheitem"OtherNon-currentAssets".
14.Non-currentassetsordisposalgroupsheld-for-sale
(1)Classificationofnon-currentassetsordisposalgroupsheldforsaleTheCompanyclassifiesnon-currentassetsordisposalgroupsthatmeetallofthefollowingconditionsasheld-for-sale:
①accordingtothepracticeofsellingthistypeofassetsordisposalgroupsinasimilartransaction,thenon-currentassetsordisposalgroupcanbesoldimmediatelyatitscurrentcondition;
②Thesaleislikelytooccur,thatis,theCompanyhasmaderesolutiononthesellingplanandobtaineddefinitepurchasecommitment,thesellingisestimatedtobecompletedwithinoneyear.Thoseassetswhosedisposalissubjecttoapprovalfromrelevantauthorityorsupervisorydepartmentunderrelevantrequirementsaresubjecttothatapproval.Thenon-currentassetsordisposalgroupacquiredbythecompanyspecificallyforresaleshallbeclassifiedasheldforsaleonthedateofacquisitionifmeetstheconditionof“expectedtocompletethesalewithinoneyear”ontheacquisitiondate,andislikelytomeetotherclassificationconditionsofheldforsaleintheshortterm(usually3months).WheretheCompanylosescontroloveritssubsidiaryduetodisposalofinvestmentinthesubsidiary,whetherornottheCompanyretainspartequityinvestmentaftersuchdisposal,investmentinthesubsidiaryshallbeclassifiedinitsentiretyasheldforsaleintheseparatefinancialstatementoftheparentcompanysubjecttothattheinvestmentinthesubsidiaryproposedtobedisposedsatisfiestheconditionsforbeingclassifiedasheldforsale,andalltheassetsandliabilitiesofthesubsidiaryshallbeclassifiedasheldforsaleinconsolidatedfinancialstatement.
(2)Measurementofnon-currentassetsheldforsaleordisposalgroupTheinvestmentrealestatebyusingfairvaluemodelforsubsequentmeasurement,thebiologicalassetsmeasured
atnetamountafterfairvalueminussalecost,theassetsformedbyemployeecompensation,thedeferredincometaxassets,thefinancialassetsspecifiedbyrelatedaccountingstandardsoffinancialinstrumentsandthemeasurementsoftherightsgeneratedbytheinsurancecontractspecifiedbyrelatedaccountingstandardsofinsurancecontractrespectivelyapplytootherrelatedaccountingstandards.Wheninitiallymeasuringorremeasuringthenon-currentassetsheldforsaleordisposalgrouponthebalancesheetdate,ifitsbookvalueishigherthanthenetamountafterthefairvalueminusthesalecost,bookvaluewillbewrittendowntothenetamountafterthefairvalueminusthesalecost,thewrite-downamountshallberecognizedasassetimpairmentlossandincludedinthecurrentprofitsandlosses,andtheimpairmentreservesheldforsaleshallbesetasideatthesametime.Onthesubsequentbalancesheetdate,ifthenetamountofthefairvalueofthenon-currentassetsordisposalgroupheldforsaleincreasesaftersubtractingthesellingexpenses,thepreviouslywritten-downamountshallberecoveredandreversedwithintheamountoftheassetimpairmentlossesrecognizedasnon-currentassetsafterbeingclassifiedasheldforsale,andthereversedamountisincludedinthecurrentprofitsandlosses.Thecarryingamountofgoodwillthathasbeenoffsetisnotrecovered.Whennon-currentassetsordisposalgroupsnolongercontinuetobeclassifiedasheldforsaleastheynolongermeettheclassificationconditionsoftheheldforsalecategoryornon-currentassetsareremovedfromtheheldforsaledisposalgroup,measurebasedonthelowerofthefollowingtwo:
①Bookvaluebeforebeingclassifiedasheldforsale,theamountadjustedaccordingtothedepreciation,amortization,orimpairmentthatshouldhavebeenrecognizedundertheassumptionthatitisnotclassifiedasheldforsale;
②Recoverableamount.
(3)PresentationInthebalancesheet,theCompanylistsnon-currentassetsheldforsaleorassetsinthedisposalgroupheldforsaleseparatelyfromotherassets,andlistsliabilitiesinthedisposalgroupheldforsaleseparatelyfromotherliabilities.Non-currentassetsheldforsaleorassetsinthedisposalgroupheldforsaleandliabilitiesinthedisposalgroupheldforsaledonotoffseteachotherandarelistedascurrentassetsandcurrentliabilitiesrespectively.
15.Long-termequityinvestmentThelong-termequityinvestmentoftheCompanyincludestheequityinvestmentwhichcontrolsandhasasignificantimpactontheinvesteeandtheequityinvestmentinthejointventure.IftheCompanyisabletoexertsignificantinfluenceontheinvestedentity,itshallbeanassociateenterpriseoftheCompany.
(1)BasisfordeterminingthejointcontrolandsignificantimpactontheinvesteeJointcontrolreferstothecommoncontrolofanarrangementaccordingtorelevantagreements,andrelevantactivitiesofthearrangementmustbeagreeduponbyalltheparticipantswhosharethecontrolright.Whenjudgingwhetherthereisjointcontrol,firstjudgewhetherallparticipantsorparticipantportfolioscollectivelycontrolthearrangement.Ifallparticipantsoragroupofparticipantsmustactinconcerttodeterminetherelevant
activitiesofanarrangement,thenallparticipantsoragroupofparticipantsareconsideredtocollectivelycontrolthearrangement.Secondly,itwilljudgewhetherthedecisionoftheactivitiesrelatedtothearrangementmustbeagreedbytheparticipantswhocollectivelycontrolthearrangement.Iftwoormoreparticipantportfolioscancollectivelycontrolanarrangement,itdoesnotconstitutejointcontrol.Theexistenceofjointcontrolisjudgedwithoutregardtotheprotectiverightsenjoyed.Significantimpactmeansthattheinvestorhastherighttoparticipateinthedecision-makingofthefinancialandoperationalpoliciesoftheinvestee,butcannotcontrolorjointlycontroltheformulationofthesepolicieswithotherparties.Whendeterminingwhetheritcanexertasignificantimpactontheinvestee,itshallconsidertheimpactofthevotingsharesdirectlyorindirectlyheldbytheinvestorandthepotentialvotingrightsoftheinvestorandotherpartiesinthecurrentperiodassumedtobeconvertedintotheequityoftheinvestee,includingtheimpactofcurrentconvertiblewarrants,stockoptionsandconvertiblecorporatebondsissuedbytheinvestee.WhentheCompanyownsmorethan20%(including20%)butlessthan50%ofthevotingsharesoftheinvesteedirectlyorindirectlythroughitssubsidiaries,itisgenerallyconsideredtohaveasignificantimpactontheinvestee,unlessthereisclearevidencethatitcannotparticipateintheproductionandoperationdecisionsoftheinvesteeundersuchcircumstances,itshallnothaveasignificantimpact.
(2)Recognitionofinitialinvestmentcost
①Investmentcostofthelong-termequityinvestmentresultingfromenterprisecombinationisrecognizedinaccordancewiththefollowingprovisions:
A.Inthecaseofabusinesscombinationunderthesamecontrol,ifthecombiningpartypayscash,transfersnon-cashassetsorassumesdebtsasthemergerconsideration,theshareofthebookvalueoftheacquiredowner’sequityofthecombinedpartyintheconsolidatedfinancialstatementsoftheultimatecontrollingpartyshallbeusedasitsinitialinvestmentcost.Thedifferencebetweentheinitialinvestmentcostoflong-termequityinvestmentandthecarryingamountofcashpaid,non-cashassetstransferredandliabilitiesassumedisadjustedtocapitalreserves;ifthecapitalreservesisnotsufficienttooffsetthedifference,retainedearningsisadjusted.B.Forabusinesscombinationunderthesamecontrol,wherethemergingpartyissuesequitysecuritiesasthemergerconsideration,theinitialinvestmentcostofthelong-termequityinvestmentshallbetheshareofthebookvalueoftheowner'sequityofthemergedpartyintheconsolidatedfinancialstatementsofthefinalcontrollingpartyonthemergerdate.Thecapitalreservesshallbeadjustedaccordingtothedifferencebetweentheinitialinvestmentcostofalong-termequityinvestmentandthetotalparvalueoftheissuedshares;ifthecapitalreservesareinsufficienttooffset,theretainedearningsshallbeadjusted;C.Forabusinesscombinationnotunderthesamecontrol,thefairvalueoftheassetspaid,liabilitiesincurredorassumedandequitysecuritiesissuedonthepurchasedateinordertoacquirethecontroloftheacquireedeterminesthemergercostastheinitialinvestmentcostoflong-termequityinvestment.Theintermediaryfeesforauditing,legalservices,evaluationandconsultationandotherrelatedadministrativeexpensesincurredbythemergerpartyshallberecordedintotheprofitsandlossesofthecurrentperiodwhenincurred.
②Exceptforthelong-termequityinvestmentformedbyenterprisemerger,theinvestmentcostofthelong-termequityinvestmentobtainedbyothermeansshallbedeterminedinaccordancewiththefollowingprovisions:
A.Forlong-termequityinvestmentacquiredbypayingcash,theactualpurchasepricepaidisregardedastheinvestmentcost.Initialinvestmentcostincludesexpenses,taxesandothernecessaryexpensesdirectlyrelatedtotheacquisitionoflong-termequityinvestment.B.Forlong-termequityinvestmentacquiredbyissuingequitysecurities,thefairvalueofissuingequitysecuritiesisregardedastheinvestmentinitialinvestmentcost.C.Forlong-termequityinvestmentacquiredbytheexchangeofnon-monetaryassets,iftheexchangeisofacommercialnatureandthefairvalueoftheassetsreceivedorsurrenderedcanbereliablymeasured,thefairvalueoftheassetssurrenderedandtherelevanttaxesandfeesshallbetakenastheinitialinvestmentcost,andthedifferencebetweenthefairvalueandthebookvalueoftheassetssurrenderedshallbeincludedinthecurrentprofitsandlosses.Iftheexchangeofnon-monetaryassetsdoesnotmeettheabovetwoconditionsatthesametime,thebookvalueoftheassetssurrenderedandrelevanttaxesandfeesshallbetakenastheinitialinvestmentcost.D.Forlong-termequityinvestmentacquiredthroughdebtrestructuring,itsentryvalueshallbedeterminedbythefairvalueoftheabandonedcreditor'srightsandthetaxesandothercostsdirectlyattributabletotheasset,andthedifferencebetweenthefairvalueoftheabandonedcreditor'srightsandthecarryingvalueshallberecordedintothecurrentprofitsandlosses.
(3)MethodsofsubsequentmeasurementandprofitandlossrecognitionThelong-termequityinvestmentthattheCompanycancontrolovertheinvestedunitshallusecostmethodforbusinessaccounting;Long-termequityinvestmentsinjointventuresandcooperativeenterprisesshalluseequitymethodforbusinessaccounting.
①CostmethodForthelong-termequityinvestmentusescostmethodforbusinessaccounting,thecostofthelong-termequityinvestmentshallbeadjustedwhentheinvestmentisaddedorrecovered;Cashdividendsorprofitsdeclaredtobedistributedbytheinvestedentityshallberecognizedascurrentinvestmentincome.
②EquitymethodThegeneralaccountingtreatmentforlong-termequityinvestmentsusingequitymethodforbusinessaccountingisasfollows:
IftheinvestmentcostoftheCompany'slong-termequityinvestmentisgreaterthanthefairvalueshareofthe
identifiablenetassetsoftheinvestedentity,theinitialinvestmentcostofthelong-termequityinvestmentshallnotbeadjusted;Iftheinitialinvestmentcostofthelong-termequityinvestmentislessthanthefairvalueshareoftheidentifiablenetassetsoftheinvestedentityatthetimeofinvestment,thedifferenceshallberecordedintothecurrentprofitsandlosses,andthecostofthelong-termequityinvestmentshallbeadjustedatthesametime.TheCompanyrecognizesinvestmentincomeandothercomprehensiveincomerespectivelyaccordingtotheshareofnetprofitandlossrealizedbytheinvestedentityandothercomprehensiveincomewhichtheCompanyshallenjoyorshare,andadjuststhebookvalueoflong-termequityinvestmentatthesametime;TheCompanycalculatesitssharebasedontheprofitsorcashdividendsdeclaredanddistributedbytheinvestedentityandreducethebookvalueofthelong-termequityinvestmentaccordingly;Thebookvalueofthelong-termequityinvestmentshallbeadjustedbasedonotherchangesintheowner'sequityotherthanthenetprofitorloss,othercomprehensiveincomeandprofitdistributionoftheinvestedentity,andrecordedintotheowner'sequity.Whenrecognizingtheshareofthenetprofitorlossoftheinvestedentity,thefairvalueoftheidentifiablenetassetsoftheinvestedentityatthetimeofacquiringtheinvestmentshallbetakenasthebasis,andthenetprofitoftheinvestedentityshallberecognizedafteradjustment.IftheaccountingpoliciesandaccountingperiodsadoptedbytheinvestedentityareinconsistentwiththoseoftheCompany,thefinancialstatementsoftheinvestedentityshallbeadjustedinaccordancewiththeaccountingpoliciesandaccountingperiodsoftheCompany,andtheinvestmentincomeandothercomprehensiveincomeshallberecognizedonthebasisthereof.ThepartofprofitandlossoftheunrealizedinternaltransactionsbetweentheCompanyandtheassociatedenterprisesandjointventureswhichisattributabletotheCompanybycalculatingaccordingtotheproportionenjoyedshallbesetoff,andtheinvestmentprofitandlossshallberecognizedonthisbasis.IfthelossofunrealizedinternaltransactionbetweentheCompanyandtheinvestedentitybelongstoimpairmentlossofassets,itshallberecognizedinfull.Ifthecompanyisabletoexertsignificantinfluenceorimplementjointcontrolontheinvesteeduetoadditionalinvestmentandotherreasons,whichdoesnotconstitutecontrol,thefairvalueoftheoriginalequityinvestmentplusthenewinvestmentcostshallbetakenastheinitialinvestmentcostaccordingtotheequitymethod.Ifthepreviouslyheldequityinvestmentisclassifiedasotherequityinstrumentinvestment,thedifferencebetweenitsfairvalueandbookvalue,aswellastheaccumulatedgainsorlossesoriginallyincludedinothercomprehensiveincomeshallbetransferredfromothercomprehensiveincomeandincludedinretainedearningsinthecurrentperiodwhenchangingtouseequitymethodforaccounting.Wherethejointcontrolorsignificantinfluenceontheinvestedunitislostduetothedisposalofsomeequityinvestments,theremainingequityafterdisposalshallbemeasuredbythefairvalue,andthedifferencebetweenthefairvalueandthebookvalueonthedateofthelossofjointcontrolorsignificantinfluenceshallberecordedintothecurrentprofitsandlosses.Othercomprehensiveincomeoftheoriginalequityinvestmentrecognizedbyusingtheequitymethodforaccountingadoptsthesamebasisasthedirectdisposalofrelatedassetsorliabilitiesbytheinvestedentityforaccountingtreatmentwhentheequitymethodisdiscontinued.
(4)EquityinvestmentsheldforsaleWheretheequityinvestmentofajointventureorassociatedenterpriseisclassifiedinwholeorinpartasassetsheldforsale,seeNotesV.14forrelevantaccountingtreatment.Fortheremainingequityinvestmentnotclassifiedasassetsheldforsale,theequitymethodisusedforaccountingtreatment.Ifanequityinvestmentinajointventureorassociatedenterprisethathasbeenclassifiedasassetsheldforsalenolongermeetstheclassificationconditionsforassetsheldforsale,itshallberetroactivelyadjustedbyusingtheequitymethodfromthedatewhenitisclassifiedasassetsheldforsale.Thefinancialstatementsfortheperiodclassifiedasheldforsaleareadjustedaccordingly.
(5)ImpairmenttestmethodandimpairmentreservecalculationmethodFortheinvestmentofasubsidiary,associatedenterpriseorjointventure,seeNotesV.20forthemethodofsettingasidetheimpairmentofassets.
16.Investmentrealestate
(1)CategoryofinvestmentrealestateTheinvestmentrealestateistherealestatethatheldtoearnrentsorforcapitalappreciation,orboth.Mainlyincludes:
①Leasedlanduserights.
②Landuserightsheldandreadytobetransferredafterappreciation.
③Leasedbuildings
(2)MeasurementofinvestmentrealestateTheCompanyadoptsthecostmodeltocarryoutfollow-upmeasurementofinvestmentrealestate,seeNoteV.20forthemethodofsettingasidetheimpairmentofassets.Afterdeductingtheaccumulatedimpairmentandnetresidualvalueoftheinvestmentrealestatecost,theCompanycalculatesthedepreciationoramortizationbythestraight-linemethod.Thecategoriesoftheinvestmentrealestate,theestimatedeconomicusefullifeandtheestimatednetresidualvalueratedeterminethedepreciationlifeandtheannualdepreciationrateasfollows:
| Category | Yearsofdepreciation(year) | Scrapvaluerate(%) | Yearlydepreciationrate(%) |
| Houseandbuildings | 35-40 | 3 | 2.77-2.43 |
| Landuseright | 50 | — | 2.00 |
16.FixedassetsFixedassetsarethetangibleassetswithahighunitvaluethatareheldforgoodproduction,provisionofservice,rentaloroperationmanagementwithausefullifeofmorethanoneyear.
(1)RecognitionFixedassetsarerecognizedattheiractualcostatthetimeofacquisitionwhenbothofthefollowingconditionsaremet:
①theeconomicbenefitsassociatedwiththefixedassetsarelikelytoflowintotheenterprise.
②costofthefixedassetscanbemeasuredreliably.Ifthesubsequentexpenditureincurredforfixedassetsthatmeettheconditionsforrecognitionoffixedassetsareincludedinthecostsoffixedassets;thosethatqualifyforrecognitionasfixedassetsarerecognizedincurrentgain/loss.
(2)DepreciationmethodsforvarioustypeoffixedassetsTheCompanydepreciatesthefixedassetsonanaverageannualbasisfromthemonthfollowingthedatewhenthefixedassetsreachtheirintendedusablecondition.Theyearofdepreciationandannualdepreciationratesaredeterminedbythecategoryoffixedassets,estimatedeconomicusefullivesandestimatednetsalvageratesrespectivelyareas:
| Category | Method | Yearsofdepreciation(Year) | Salvagerates(%) | Annualdepreciationrates(%) |
| Houseandbuildings | Straight-linedepreciation | 10、35-40 | 0、3 | 2.43-2.77、10.00 |
| Including:ownedhouserenovation | Straight-linedepreciation | 10 | 0 | 10.00 |
| Machineryequipment | Straight-linedepreciation | 12 | 3 | 8.08 |
| Transportequipment | Straight-linedepreciation | 7 | 3 | 13.86 |
| Electronicequipment | Straight-linedepreciation | 5-7 | 3 | 13.86-19.40 |
| Officeandotherequipment | Straight-linedepreciation | 7 | 3 | 13.86 |
Asforthefixedassetswithimpairmentaccrual,theprovisionforimpairmentoffixedassetsisdeductedwhenthedepreciationisprovided.Attheendofeachyear,theCompanyreviewstheusefullife,estimatednetsalvagevalueanddepreciationmethodoffixedassets.Whentheestimatedusefullifediffersfromtheoriginalestimates,theusefullifeofsuchfixedassetsshouldbeadjusted.
(3)Recognition,measurementanddepreciationoffixedassetsheldunderfinanceleaseTheCompanyrecognizestheleaseofafixedassetasafinancialleasewhenalltherisksandrewardsrelatedtotheleasedfixedassethavebeentransferredsubstantially.Thecostoffixedassetsacquiredbyfinanceleaseshallbe
determinedbythelowerofthefairvalueoftheleasedassetandthepresentvalueoftheminimumleasepaymentonthecommencementdateoflease.Thefixedassetsleasedthroughfinancingadoptthedepreciationpolicyconsistentwiththeself-ownedfixedassetstocalculatethedepreciationoftheleasedassets.Whereitcanreasonablybedeterminedthatownershipoftheleasedassetwillbeacquiredattheendoftheleaseterm,depreciationoftheleasedassetshallbecalculatedduringtheusefullifeoftheleasedasset;Whereitcannotreasonablybedeterminedthatownershipoftheleasedassetwillbeacquiredattheendoftheleaseterm,depreciationshallbeaccruedduringtheshorteroftheleasetermandtheusefullifeoftheleasedasset.
17.Constructioninprogress
(1)Businessaccountingoftheconstructionworkinprocessinbasedonprojectclassification.
(2)StandardandtimepointforcarryingforwardtheconstructionworkinprocessintofixedassetsFortheconstructionworkinprocessproject,thebookvalueofthefixedassetisalltheexpensesincurredbeforetheconstructionoftheassetreachesthepredeterminedserviceablestate.Includingconstructioncosts,theoriginalpriceofmachineryandequipment,othernecessaryexpensesincurredtomaketheconstructionworkinprocessreachthepredeterminedserviceablestate,aswellastheborrowingcostsincurredforthespecialborrowingoftheprojectbeforetheassetsreachthepredeterminedserviceablestateandtheborrowingcostsincurredfortheoccupiedgeneralborrowing.TheCompanytransferstheconstructionworkinprocessintofixedassetswhentheprojectinstallationorconstructioniscompletedandreachesthepredeterminedserviceablestate.Theconstructedfixedassetswhichhavereachedthepredeterminedserviceablestatebuthavenotyetcompletedthefinalaccountshallbetransferredtothefixedassetsbasedontheestimatedvalueaccordingtotheconstructionbudget,costoractualcostofworkperformedfromthedateofreachingthepredeterminedserviceablestate,andcalculatesthedepreciationoffixedassetsinaccordancewiththeCompany'spolicyfordepreciationoffixedassets,andtheoriginalprovisionalestimatedvalueshallbeadjustedaccordingtotheactualcostafterthecompletionofthefinalaccount,butthepreviouslyaccruedamountofdepreciationshallnotbeadjusted.
18.Borrowingexpenses
(1)TherecognitionprincipleofcapitalizationofborrowingcostsandcapitalizationperiodTheborrowingexpensesincurredbytheCompanywhichcanbedirectlyattributedtotheacquisitionandconstructionorproductionofassetsthatmeetthecapitalizationconditionsshallbecapitalizedandincludedintotherelatedassetcostswhenthefollowingconditionsaremetsimultaneously:
①Assetexpenditurehasincurred;
②Borrowingcostshaveincurred;
③Thenecessaryacquisitionandconstructionorproductionactivitieshavebeguntomaketheassetsreachthepredeterminedserviceablestate.
Otherinterestonborrowings,discountsorpremiumsandexchangegainsorlossesshallbeincludedintheprofitsorlossesofthecurrentperiod.Ifabnormalinterruptionoccursintheprocessofacquisition,constructionorproductionoftheassetseligibleforcapitalization,andtheinterruptionperiodexceeds3consecutivemonths,thecapitalizationofborrowingcostsshallbesuspended.Thecapitalizationoftheborrowingcostsshallbestoppedwhentheassetsthatmeetthecapitalizationconditionsoftheacquisition,constructionorproductionreachthepredeterminedserviceableormarketablestatus;Borrowingcostsincurredlaterarerecognizedasexpensesinthecurrentperiodofoccurrence.
(2)ThecapitalizationrateofborrowingcostsandthecalculationmethodofcapitalizationamountWherespecificborrowingsareborrowedfortheacquisitionandconstructionorproductionofassetseligibleforcapitalization,theamountafterdeductingtheinterestincomeobtainedbydepositingtheunusedloanfundsinthebankortheinvestmentincomeobtainedthroughtemporaryinvestmentfromtheinterestexpensesactuallyincurredinthecurrentperiodofthespecificborrowingsisdeterminedastheamountofthecapitalizationoftheinterestchargesforspecificborrowings.Wheregeneralborrowingsareoccupiedfortheacquisitionandconstructionorproductionofassetseligibleforcapitalization,theamountofinterestthatshouldbecapitalizedonthegeneralborrowingsshallbecalculatedanddeterminedbymultiplyingtheassetexpenditureweightedaverageoftheaccumulatedassetexpenditureexceedingthespecificborrowingsandthecapitalizationrateofthegeneralborrowings.Thecapitalizationrateiscalculatedanddeterminedbasedontheweightedaverageinterestrateofgeneralborrowings.
19.Intangibleassets
(1)ValuationofintangibleassetsRecordedattheactualcostatthetimeofacquisition.
(2)Usefullifeandamortizationofintangibleassets
①Estimatedusefullifeoftheintangibleassetswithfiniteusefullife:
| Item | Estimatedusefullife | Basis |
| Landuseright | 50years | Legalrightofuse |
| Computersoftware | 5years | UsefullifeisdeterminedbythereferencetotheperiodthatcanbringeconomicbenefittotheCompany |
| Item | Estimatedusefullife | Basis |
| Trademark | 10years | UsefullifeisdeterminedbythereferencetotheperiodthatcanbringeconomicbenefittotheCompany |
Attheendofeachyear,thecompanyshallreviewtheservicelifeandamortizationmethodofintangibleassetswithlimitedservicelife.Uponreview,theservicelifeandamortizationmethodofintangibleassetsattheendofthisperiodarenotdifferentfrompreviousestimates.
②Intangibleassetsthatcannotbeforeseentobringeconomicbenefitstotheenterpriseshallberegardedasintangibleassetswithuncertainservicelife.Forintangibleassetswithuncertainservicelife,thecompanyshallreviewtheservicelifeoftheintangibleassetswithuncertainservicelifeattheendofeachyear.Iftheservicelifeoftheintangibleassetsisstilluncertainafterthereview,animpairmenttestshallbeconductedonthebalancesheetdate.
③AmortizationofintangibleassetsForintangibleassetswithlimitedservicelife,theCompanyshalldeterminetheirservicelifeatthetimeofacquisition,andmakereasonableamortizationwithintheservicelifebyusingthestraightlinemethodsystem,andtheamortizationamountshallberecordedintothecurrentprofitsandlossesaccordingtothebenefititems.Thespecificamounttobeamortizedistheamountafterdeductingtheestimatedresidualvaluefromthecost.Forintangibleassetsforwhichimpairmentreserveshavebeensetaside,theaccumulatedamountofimpairmentreservesforintangibleassetswhichhavebeensetasideshallalsobededucted.Forintangibleassetswithlimitedservicelife,itsresidualvalueshallberegardedaszero,exceptinthefollowingcases:athirdpartypromisestopurchasetheintangibleassetattheendofitsservicelife,ortheestimatedresidualvalueinformationcanbeobtainedbasedontheactivemarket,andsuchmarketislikelytoexistattheendoftheservicelifeoftheintangibleasset.Intangibleassetswithuncertainservicelifeshallnotbeamortized.Attheendofeachyear,theservicelifeofintangibleassetswithuncertainservicelifeshallbereviewed.Ifthereisevidencethattheservicelifeofintangibleassetsislimited,theservicelifeofintangibleassetsshallbeestimatedandreasonablyamortizedinasystemwithintheexpectedservicelife.
20.Long-termassetsimpairmentTheassetimpairmentofthelong-termequityinvestmentofsubsidiarycompanies,associatedenterprisesandjointventures,theinvestmentrealestateusingcostmodelforsubsequentmeasurement,thefixedassets,theconstructionworkinprocess,theintangibleassets,thegoodwill,etc.(exceptforinventory,investmentrealestatemeasuredbyfairvaluemodel,deferredincometaxassets,financialassets)isdeterminedaccordingtothefollowingmethods:
Onthebalancesheetdate,theCompanyjudgeswhetherthereareanysignsofpossibleimpairmentoftheassets.
Ifthereareanysignsofimpairment,theCompanywillestimatetherecoverableamountandconductanimpairmenttest.Forgoodwillformedbybusinesscombination,intangibleassetswithuncertainservicelifeandintangibleassetsthathavenotreachedtheusablestate,impairmenttestiscarriedouteveryyear,regardlessofwhetherthereisanyindicationofimpairment.Therecoverableamountisdeterminedaccordingtothehigherbetweenthenetamountofthefairvalueoftheassetminusthedisposalexpenseandthepresentvalueoftheexpectedfuturecashflowoftheasset.TheCompanyestimatestherecoverableamountonthebasisofindividualassets;Ifitisdifficulttoestimatetherecoverableamountofasingleasset,therecoverableamountofanassetgroupshallbedeterminedonthebasisoftheassetgrouptowhichtheassetbelongs.Theidentificationofanassetgroupshallbebasedonwhetherthemaincashinflowgeneratedbytheassetgroupisindependentofthecashinflowofotherassetsorassetgroup.Whentherecoverableamountofanassetoranassetgroupislowerthanitscarryingamount,theCompanywillwritedownthecarryingamounttotherecoverableamount,recordthewrite-downamountintothecurrentprofitsandlosses,andatthesametimemakeaprovisionforthecorrespondingassetimpairment.Fortheimpairmenttestofgoodwill,thebookvalueofthegoodwillformedbythebusinesscombinationshallbeapportionedtotherelevantassetgroupinareasonablemannerfromthepurchasedate;Ifitisdifficulttobeapportionedtotherelevantassetgroup,itshallbeapportionedtotherelevantassetgroupportfolio.TherelatedassetgrouporassetgroupportfolioistheassetgrouporassetgroupportfoliothatcanbenefitfromthesynergiesofbusinesscombinationandisnotgreaterthanthereportingsegmentidentifiedbytheCompany.Duringtheimpairmenttest,iftheassetgrouporassetgroupportfoliorelatedtogoodwillshowssignsofimpairment,theimpairmenttestshallbecarriedoutontheassetgrouporassetgroupportfoliowhichdoesnotcontaingoodwill,therecoverableamountshallbecalculatedandthecorrespondingimpairmentlossshallbeconfirmed.Thentheimpairmenttestiscarriedoutontheassetgrouportheassetgroupportfoliocontaininggoodwill,comparingitsbookvaluewiththerecoverableamount,iftherecoverableamountislowerthanthebookvalue,theimpairmentlossofgoodwillisconfirmed.Onceanassetimpairmentlossisrecognized,itshallnotbereversedinthesubsequentaccountingperiod.
21.Long-termprepaidexpensesToaccountfortheexpensesthathavebeenincurredbutwhichshallbebornebythecurrentandfutureperiodsandwhichareapportionedoveraperiodofmorethanoneyear.Thelong-termprepaidexpenseswillamortizedequallyovertheperiodofbenefit.
22.EmployeeremunerationEmployeeremunerationreferstovariousformsofremunerationorcompensationgivenbytheCompanytotheemployeeforobtainingtheserviceprovidedbytheemployeeortheterminationoflaborrelationship.Employee
remunerationincludesshort-termremuneration,after-servicebenefits,dismissalbenefitsandotherlong-termemployeebenefits.ThebenefitsprovidedbytheCompanytospouses,children,dependants,deceasedemployees'survivorsandotherbeneficiariesshallalsobeconsideredasemployeeremuneration.Accordingtotheliquidity,employeeremunerationislistedseparatelyunderthe"employeeremunerationpayable"and"long-termemployeeremunerationpayable"itemsinthebalancesheet.
(1)Accountingtreatmentofshort-termremuneration
①Basicremuneration(salary,bonus,allowance,subsidy)DuringtheaccountingperiodwhentheemployeesprovideservicestotheCompany,theCompanyrecognizestheshort-termremunerationactuallyincurredasaliabilityandrecordsitintothecurrentprofitsandlosses,exceptforthoserequiredorallowedtobeincludedinthecostofassetsunderotheraccountingstandards.
②EmployeewelfareexpensesTheemployeewelfareexpensesincurredbytheCompanyshallbeincludedinthecurrentprofitsandlossesorrelatedassetcostsaccordingtotheactualamountincurredwhentheyactuallyoccur.Ifemployeewelfareexpensesarenon-monetarywelfare,theyshallbemeasuredatfairvalue.
③Medicalinsurance,industrialinjuryinsurance,maternityinsuranceandothersocialinsurancepremiumsandhousingprovidentfunds,aswellaslaborunionfundsandstaffeducationfundsThemedicalinsurance,industrialinjuryinsurance,maternityinsuranceandothersocialinsurancepremiumsandhousingprovidentfundstheCompanypaidforitsemployees,aswellasthelaborunionfundsandstaffeducationfundssetasidebyrulecalculateanddeterminethecorrespondingemployeeremunerationamountaccordingtothestipulatedprovisionsbasicandprovisionratioduringtheaccountingperiodfortheemployeetoprovideservices,andconfirmthecorrespondingliabilitiesandrecordthemintothecurrentprofitsandlossesorrelatedassetcost.
④Short-termpaidabsenceTheCompanyrecognizestheemployee'scompensationrelatedtotheaccumulatedpaidabsencewhentheserviceprovidedbytheemployeeincreaseshisorherrighttoenjoyfuturepaidabsence,andmeasuresitwiththeincreaseinexpectedpaymentduetotheaccumulatedunexercisedright.TheCompanyrecognizesemployeecompensationrelatedtonon-cumulativepaidabsenceduringtheaccountingperiodwhentheabsenceactuallyoccurs.
⑤Short-termprofitsharingplanIftheprofitsharingplansatisfiesthefollowingconditionsatthesametime,theCompanyrecognizestherelevant
employeecompensationpayable:
A.Theenterprisehasastatutoryorconstructiveobligationtopayitsemployeesduetopastevents;B.Theamountofpayrollobligationsarisingfromprofitsharingplanscanbereliablyestimated.
(2)Accountingtreatmentofpost-employmentbenefits
①DefinedcontributionplansTheCompanyrecognizestheamountpayablecalculatedaccordingtothedefinedcontributionplansasaliabilityduringtheaccountingperiodwhentheemployeeprovidesservicestoit,andrecordsitintothecurrentprofitsandlossesortherelatedassetcost.Accordingtothedefinedcontributionplans,whereitisnotexpectedtopaythefullamountpayablewithin12monthsaftertheendoftheannualreportingperiodfortherelevantservicesprovidedbytheemployee,theCompanymeasuresthepayrollpayablebytheamountafterdiscountingthefullamountpayablewithreferencetothecorrespondingdiscountrate(determinedbythetreasurybondsmatchingwiththeobligatorytermofdefinedcontributionplansorthemarketyieldofthehighqualitycorporatebondsintheactivemarketatthebalancesheetdate).
②DefinedbenefitplansA.DeterminethepresentvalueandcurrentservicecostoftheobligationsunderthedefinedbenefitplansAccordingtotheexpectedaccumulativewelfareunitmethod,therelevantdemographicvariablesandfinancialvariablesareestimatedbyusingunbiasedandconsistentactuarialassumptions,theobligationsarisingfromthedefinedbenefitplansaremeasured,andtheperiodofattributionoftherelevantobligationsisdetermined.TheCompanydiscountstheobligationsarisingfromthedefinedbenefitplansaccordingtothecorrespondingdiscountrate(determinedbythetreasurybondsmatchingwiththeobligatorytermofdefinedbenefitplansorthemarketyieldofthehighqualitycorporatebondsintheactivemarketatthebalancesheetdate)todeterminethepresentvalueoftheobligationsofthedefinedbenefitplansandthecurrentservicecost.B.RecognizethenetliabilitiesornetassetsofthedefinedbenefitplansWherethereareassetsinthedefinedbenefitplans,theCompanyshallrecognizethedeficitorsurplusformedbythepresentvalueoftheobligationsofthedefinedbenefitplansminusthefairvalueoftheassetsofthedefinedbenefitplansasthenetliabilitiesornetassetsofadefinedbenefitplan.Ifthereissurplusinthedefinedbenefitplans,theCompanyshallmeasurethenetassetsofthedefinedbenefitplansbythelowerofthedefinedbenefitplans’surplusortheupperlimitofassets.
C.DeterminetheamounttobeincludedintheassetcostorthecurrentprofitandlossServicecostincludescurrentservicecost,pastservicecostandsettlementgainsorlosses.Amongthem,exceptforthecurrentservicecostsrequiredorallowedtobeincludedinthecostofassetsunderotheraccountingstandards,otherservicecostsareincludedinthecurrentprofitsandlosses.Netinterestonnetliabilitiesornetassetsofdefinedbenefitplans,includinginterestincomeonplanassets,interestexpenseondefinedbenefitplanobligations,andinterestontheimpactofassetcaps,arerecordedinthecurrentprofitsandlosses.D.DeterminetheamounttobeincludedinothercomprehensiveincomeRemeasurementofchangesinnetliabilitiesornetassetsofadefinedbenefitplan,including:
(a)Actuarialgainorlossisanincreaseordecreaseinthepresentvalueofthepreviouslymeasureddefinedbenefitplanobligationsasaresultofactuarialassumptionsandempiricaladjustments;(b)Returnonplanassets,deducttheamountincludedinthenetinterestonthenetliabilitiesornetassetsofthedefinedbenefitplan;(c)Changesintheimpactoftheassetcap,deducttheamountincludedinthenetinterestonthenetliabilitiesornetassetsofthedefinedbenefitplan.Changesinnetliabilitiesornetassetsoftheabove-mentionedremeasuredbenefitplanaredirectlyincludedinothercomprehensiveincomeandarenotallowedtobetransferredbacktoprofitorlossinsubsequentaccountingperiods,buttheCompanymaytransfertheseamountsrecognizedinothercomprehensiveincomewithintherangeofequity.
(3)AccountingtreatmentofdismissbenefitsWheretheCompanyprovidesdismissbenefitstoitsemployees,theCompanyshallrecognizetheemployees'compensationliabilitiesarisingfromdismissbenefitsattheearlierdayofthefollowingtwo,andrecordthemintothecurrentprofitsandlosses:
①Theenterprisecannotunilaterallywithdrawthedismissbenefitsprovidedbytheplanfortheterminationoflaborrelationsorthedownsizingproposal;
②Whentheenterpriserecognizesthecostsorexpensesrelatedtotherestructuringinvolvingthepaymentofdismissbenefits.Ifthedismissbenefitsarenotexpectedtobefullypaidwithin12monthsaftertheendoftheannualreportperiod,
theamountofdismissbenefitsshallbediscountedaccordingtothecorrespondingdiscountrate(determinedbythetreasurybondsmatchingwiththeobligatorytermofdefinedbenefitplansorthemarketyieldofthehighqualitycorporatebondsintheactivemarketatthebalancesheetdate),andthediscountedamountshallbeusedtomeasurethepayrollpayable.
(4)Otheraccountingtreatmentmethodsforlong-termemployeebenefits
①MeetingtheconditionsofthedefinedbenefitplanIfotherlong-termemployeebenefitsprovidedbytheCompanymeettheconditionsofthedefinedbenefitplan,thepayrollpayableshallbemeasuredatthediscountedamountofthetotalamountpayable.
②MeetingtheconditionsofthedefinedbenefitplanAttheendofthereportingperiod,theCompanyrecognizestheemployeecompensationcostsgeneratedbyotherlong-termemployeebenefitsasthefollowingcomponents:
A.Servicecost;B.Netinterestonnetliabilitiesornetassetsofotherlong-termemployeebenefits;C.Remeasurementofchangesinnetliabilitiesornetassetsofotherlong-termemployeebenefits.Inordertosimplifytherelevantaccountingtreatment,thetotalnetamountoftheaboveitemsisincludedinthecurrentprofitsandlossesortherelatedassetcost.
23.Accrualliability
(1)RecognitionstandardsTheCompanyrecognizesanaccrualliabilityiftheobligationassociatedwiththecontingencyalsomeetsthefollowingconditions:
①theobligationisapresentobligationassumedbytheCompany;
②itisprobablethattheperformanceoftheobligationwillresultinanoutflowoftheeconomicbenefitstotheCompany;
③theobligationcanbemeasuredreliablyforitsvalue.
(2)MeasurementAccrualliabilitiesareinitiallymeasuredinaccordancewiththebestestimateoftheexpensesrequiredtofulfillthe
relevantcurrentobligations,takingintoaccounttherisks,uncertaintiesandtimevalueofmoneyrelatedtocontingencies.ThebookvalueoftheAccrualliabilitiesisreviewedoneachbalancesheetdate.Ifthereisconclusiveevidencethatthebookvaluecannotreflectthecurrentbestestimate,thebookvalueshallbeadjustedaccordingtothecurrentbestestimate.
24.Recognitionandmeasurementofrevenue
(1)GeneralprinciplesIncomeisthetotalinflowofeconomicbenefitsgeneratedinthedailyactivitiesoftheCompanythatwillleadtoanincreaseinshareholders'equityandhavenothingtodowiththecapitalinvestedbyshareholders.TheCompanyrecognizesrevenuewhentheperformanceobligationinthecontracthasbeenfulfilled,thatis,whenthecustomerobtainsthecontroloftherelevantcommodity.Togaincontrolofarelevantcommoditymeanstobeabletodominatetheuseofthecommodityandgainalmostalleconomicbenefitsfromit.Ifthecontractcontainstwoormoreperformanceobligations,theCompanyshall,onthecommencementdateofthecontract,apportionthetransactionpricetoeachindividualperformanceobligationinaccordancewiththerelativeproportionoftheindividualsellingpriceofthegoodsorservicespromisedineachindividualperformanceobligation,andmeasureitsincomeaccordingtothetransactionpriceapportionedtoeachindividualperformanceobligation.ThetransactionpriceistheamountofconsiderationtheCompanyexpectstobeentitledtoreceiveinconnectionwiththetransferofgoodsorservicestothecustomer,excludingpaymentsreceivedonbehalfofthirdparties.Whendeterminingthecontracttransactionprice,ifthereisavariableconsideration,theCompanydeterminesthebestestimateofthevariableconsiderationintermsoftheexpectedormostlikelyamount,andincludesthetransactionpriceinanamountnotexceedingthecumulativelyrecognizedincomewhichishighlyunlikelytobemateriallyreversedwhentherelevantuncertaintyisremoved.Ifthereisasignificantfinancingcomponentinthecontract,theCompanywilldeterminethetransactionpriceonthebasisoftheamountpayablepaidincashbythecustomeratthetimeofacquisitionofcontrolofthegoods,thedifferencebetweenthetransactionpriceandthecontractconsiderationisamortizedovertheperiodofthecontractbyusingtheeffectiveinterestmethod.Wherethetimebetweenthetransferofcontrolandthepaymentbythecustomerislessthanoneyear,theCompanyshallnotconsiderthefinancingcomponent.Itbelongstofulfillmentofperformanceobligationswithinacertainperiodoftimeifmeetingoneofthefollowingconditions;otherwise,itbelongstofulfillmentofperformanceobligationsatacertainpointoftime:
①ThecustomerobtainsandconsumestheeconomicbenefitsbroughtbytheperformanceoftheCompanywhenperformingthecontract;
②Thecustomercancontrolthegoodsunderconstructionintheprocessofthecompany'sperformance;
③TheproductsproducedbytheCompanyduringtheperformanceofthecontracthaveirreplaceableuses,andtheCompanyhastherighttocollectpaymentfortheaccumulatedpartoftheperformancecompletedsofarduringtheentirecontractperiod.Forperformanceobligationsperformedwithinacertainperiodoftime,theCompanyshallrecognizerevenueinaccordancewiththeperformanceprogresswithinthatperiod,exceptwheretheperformanceprogresscannotbereasonablydetermined.TheCompanydeterminestheperformanceprogressoftheservicesprovidedaccordingtotheinput(oroutput)method.Whentheperformanceprogresscannotbereasonablydetermined,ifthecostalreadyincurredbytheCompanyisexpectedtobecompensated,therevenueshallberecognizedaccordingtotheamountofcostalreadyincurreduntiltheperformanceprogresscanbereasonablydetermined.Forperformanceobligationsperformedatacertainpointoftime,theCompanyrecognizesrevenueatthetimepointwhenthecustomerobtainscontroloftherelevantgoods.Whenjudgingwhetherthecustomerhasacquiredcontrolofthegoodsorservices,theCompanywillconsiderthefollowingindications:
①TheCompanyisentitledtocurrentpaymentrightsinrespectofthegoodsorservices,thatis,thecustomerhascurrentpaymentobligationsinrespectofthegoods;
②TheCompanyhastransferredthelegalownershipofthegoodstothecustomer,thatis,thecustomerhasthelegalownershipofthegoods;
③TheCompanyhastransferredthecommodityinkindtothecustomer,thatis,thecustomerhasphysicalpossessionofthecommodity;
④TheCompanyhastransferredthemainrisksandrewardsoftheownershipofthegoodstothecustomer,thatis,thecustomerhasacquiredthemainrisksandrewardsoftheownershipofthegoods;
⑤Thecustomerhasacceptedthegoods.SalesreturnclauseForsaleswithasalesreturnclause,theCompanyshallrecognizetherevenueaccordingtotheamountofconsiderationtowhichthecustomerisentitledasaresultofthetransferofthegoodstothecustomerwhenthecustomeracquiresthecontroloftherelevantgoods,andtheamountrefundedasexpectedduetothesalesreturnshallberecognizedasanestimatedliability.Atthesametime,thebalanceafterdeductingthecostexpectedtobeincurredfortherecoveryofthegoods(includingimpairmentofthevalueofthereturnedgoods)fromthebookvalueofthereturnedcommodityatthetimeoftransferisrecognizedasanasset,i.e.thecostofreturnsreceivable,anddeductsthenetamountcarryovercostoftheaboveassetcostaccordingtothebookvalueofthetransferred
commodityatthetimeoftransfer.Oneachbalancesheetdate,theCompanyre-estimatesthereturnoffuturesalesandremeasurestheaboveassetsandliabilities.WarrantyobligationsAccordingtothecontractandlegalprovisions,theCompanyprovidesqualityassuranceforthesaleofgoods,constructionoftheproject,etc.Forthewarrantyqualityassurancedesignedtoassurecustomersthattheproductssoldmeetestablishedstandards,theCompanyconductsaccountingtreatmentinaccordancewiththeAccountingStandardsforBusinessEnterprisesNo.13-Contingencies.Forserviceclassqualityassurancethatprovidesaseparateserviceinadditiontoassuringcustomersthatthegoodssoldmeetestablishedstandards,theCompanyregardsitasasingleperformanceobligationandapportionspartofthetransactionpricetotheserviceclassqualityguaranteeinaccordancewiththerelativeproportionoftheseparatepriceforprovidinggoodsandserviceclassqualityguarantee,andrecognizestherevenuewhenthecustomerobtainsthecontroloftheservice.Whenassessingwhetherqualityassuranceprovidesaseparateserviceinadditiontoassuringthecustomerthatthegoodssoldmeetestablishedstandards,theCompanyconsiderssuchfactorsaswhetherthewarrantyisastatutoryrequirement,thequalitywarrantyperiodandthenatureofthetasktowhichtheCompanyiscommitted.PrincipalresponsiblepersonsandagentsIftheCompanyacquiresthecontrolofthetradingcommoditiesfromathirdpartyandthentransfersthemtocustomers,theCompanyshallhavetherighttodeterminethepriceofthetradingcommoditiesindependently,thatis,theCompanycancontrolthetradingcommoditiesbeforetransferringthemtothecustomers,therefore,theCompanyistheprincipleresponsibleperson,andtherevenueisrecognizedaccordingtothetotalconsiderationreceivedorreceivable.Otherwise,theCompany,actingastheagent,shallrecognizetherevenueonthebasisoftheamountofcommissionsorservicechargesitisexpectedtobeentitledtoreceive,thisamountshouldbedeterminedonthebasisofthenetamountafterdeductingthepricepayabletootherrelevantpartiesfromthetotalconsiderationreceivedorreceivable,oronthebasisoftheamountorproportionoffixedcommissions,etc.CustomerconsiderationpayableIfthereisacustomerconsiderationpayableinthecontract,unlesstheconsiderationistoobtainotherclearlydistinguishablegoodsorservicesfromthecustomer,theCompanywilloffsettheconsiderationpayableagainstthetransactionprice,andtheCompanywilloffsetthecurrentrevenueatthelatertimepointbetweenthetimerecognizingtherelevantrevenueorthetimepaying(orpromisingtopay)thecustomerconsideration.ContractualrightsnotexercisedbytheclientIftheCompanyreceivespaymentsforsalesofgoodsorservicesfromcustomersinadvance,itwillfirstrecognizesuchpaymentsasliabilitiesandthenturnthemintoincomewhentherelevantperformanceobligationsarefulfilled.WhereanyadvancereceivedbytheCompanyisnotrefundableandtheCustomermaywaiveallorpart
ofitscontractualrights,andtheCompanyanticipatestobeentitledtoanamountinconnectionwiththecontractualrightswaivedbythecustomer,suchamountshallberecognizedasrevenueprorataaccordingtothemodeinwhichthecustomerexercisesthecontractualrights.Otherwise,theCompanywillconverttherelevantbalanceofthesaidliabilitiesintoincomeonlywhenitishighlyunlikelythatthecustomerwillrequirethefulfillmentoftheremainingperformanceobligations.
(2)SpecificmethodsSpecificmethodsforrevenuerecognitionoftheCompanyareasfollows:
①CommoditysalescontractThesalescontractbetweentheCompanyandthecustomercontainstheperformanceobligationofthetransferredgoods,whichbelongstotheperformanceobligationatacertainpointintime.Therevenuerecognitionofautosalesandjewelrywholesaleneedtosatisfythefollowingconditions:theCompanyhasdeliveredgoodstothecustomeraccordingtothecontractandcustomerhasacceptedthegoods,thepaymenthasbeenreceivedorthereceipthasbeenobtainedandtheassociatedeconomicbenefitsarelikelytoflowin,themajorrisksandrewardsofownershipofthegoodshavebeentransferred,andthelegalownershipofthegoodshasbeentransferred.
②AutorepairandtestcontractTheperformanceobligationscontainedintheautorepairandtestcontractbetweentheCompanyandthecustomerbelongtotheperformanceobligationsatacertainpointintime.Therevenuerecognitionofautorepairandtestcontractneedstomeetthefollowingconditions:theCompanyhascompletedtheserviceofautorepairandtestasagreedinthecontract,settledallmaterialsandworkinghourswiththecustomer,andallowedthecustomer'sautomobiletoleavetheCompany'srepairshop.
③ProvisionofservicecontractTheprovisionofservicecontractbetweentheCompanyandcustomersincludestheperformanceobligationsforservicesrelatedtotherentalofrealestate,asthecustomerobtainsandconsumestheeconomicbenefitsbroughtbytheCompany'sperformanceofthecontractwhiletheCompanyperformsthecontract,theCompanyconsidersthemastheperformanceobligationstobeperformedwithinacertainperiodoftime,andapportionsandrecognizesthemequallyduringtheserviceprovisionperiod.
④RealestateleasecontractFortherecognitionmethodfortheCompany'srealestaterentalincome,see"NotesV.27".
25.Governmentsubsidy
(1)RecognitionGovernmentsubsidiesarerecognizedwhenthefollowingconditionsaremetatthesametime:
①Thecompanycanmeettheconditionsattachedtothegovernmentsubsidies;
②Thecompanycanreceivegovernmentsubsidies.
(2)MeasurementIfthegovernmentsubsidyisamonetaryasset,itshallbemeasuredaccordingtotheamountreceivedorreceivable.Ifthegovernmentsubsidyisanon-monetaryasset,itshallbemeasuredatfairvalue;Ifthefairvaluecannotbereliablyobtained,itshallbemeasuredaccordingtothenominalamountof1yuan.
(3)Accountingtreatmentofgovernmentsubsidies
①Asset-relatedgovernmentsubsidiesThegovernmentsubsidiesobtainedbythecompanyforthepurchaseandconstructionortheformationoflong-termassetsinotherwaysareclassifiedasthegovernmentsubsidiesrelatedtoassets.Governmentsubsidiesrelatedtoassetsarerecognizedasdeferredincome,whichshallbeincludedintoprofitsandlossesinareasonableandsystematicwayintheservicelifeoftherelevantassets.Governmentsubsidiesmeasuredinnominalamountsshallbedirectlyincludedincurrentprofitsandlosses.Iftherelevantassetsaresold,transferred,scrappedordestroyedbeforetheendoftheirusefullife,theundistributedbalanceofrelevantdeferredincomeshallbetransferredtothecurrentprofitsandlossoftheassetdisposal.
②GovernmentsubsidiesrelatedtoincomeGovernmentsubsidiesotherthanthoserelatedtoassetsareclassifiedasincome-relatedgovernmentsubsidies.Thegovernmentsubsidiesrelatedtoincomeshallbeconductedaccountingtreatmentaccordingtothefollowingregulationsindifferentcases:
ThoseusedtocompensatetherelevantcostsorlossesoftheCompanyinsubsequentperiodsshallberecognizedasdeferredincomeandshallberecordedintothecurrentprofitsandlossesduringtheperiodinwhichtherelevantcostsorlossesarerecognized;ThoseusedtocompensatetherelevantcostsorlossesincurredbytheCompanyshallbedirectlyrecordedintothecurrentprofitandloss.
Forthegovernmentsubsidiesthatcontainboththepartrelatedtoassetsandthepartrelatedtoincome,separatedifferentpartsforaccountingtreatment;fortheindistinguishablepart,thewholeisclassifiedasincome-relatedgovernmentsubsidies.GovernmentsubsidiesrelatedtothedailyactivitiesoftheCompanyshallbeincludedinotherearningsinaccordancewiththesubstanceofeconomicbusiness.ThegovernmentsubsidiesunrelatedtothedailyactivitiesoftheCompanyshallbeincludedinthenon-operatingincomeandexpenditure.
③ReturnofgovernmentsubsidiesWhentherecognizedgovernmentsubsidiesneedtobereturned,thebookvalueoftheassetsshallbeadjustedifthebookvalueoftherelevantassetsiswrittendownduringtheinitialrecognition;Ifthereisabalanceoftherelevantdeferredincome,thebookbalanceoftherelevantdeferredincomeshallbewrittendown,andtheexcesspartshallbeincludedintothecurrentprofitsandlosses;Underothercircumstances,theyshallbedirectlyrecordedintocurrentprofitsandlosses.
26.DeferredincometaxassetsanddeferredincometaxliabilitiesTheCompanyusuallyrecognizesandmeasurestheamountofincometaximpactoftaxabletemporarydifferencesordeductibletemporarydifferencesasdeferredincometaxliabilitiesanddeferredincometaxassetsbyusingthebalancesheetliabilitymethodbasedonthetemporarydifferencesbetweenthebookvalueofassetsandliabilitiesonthebalancesheetdateandthetaxbase.TheCompanydoesnotdiscountdeferredtaxassetsanddeferredtaxliabilities.
(1)RecognitionofdeferredtaxassetsFordeductibletemporarydifferences,deductiblelossesandtaxcreditsthatcanbecarriedforwardtothenextyear,theiramountofimpactonincometaxiscalculatedattheexpectedincometaxrateduringthereversalperiodandisrecognizedasadeferredincometaxasset,butiswithinthelimitoffuturetaxableincomethattheCompanyarelikelytousetooffsetdeductibletemporarydifferences,deductiblelossesandtaxcredits.Theimpactamountofincometaxofadeductibletemporarydifferencearisingfromtheinitialrecognitionofanassetorliabilityinatransactionoreventsimultaneouslyhavingboththefollowingcharacteristicsshallnotberecognizedasadeferredincometaxasset:
A.Thetransactionisnotabusinessmerger;B.Thetransactionoccurswithoutaffectingeitheraccountingprofitortaxableincome(ordeductibleloss).
TheimpactamountofincometaxoftheCompany'sdeductibletemporarydifferencesrelatedtoitsinvestmentsinsubsidiaries,associatedcompaniesandjointventuresshallberecognizedasdeferredincometaxassetsifbothofthefollowingconditionsaremet:
A.Temporarydifferencesarelikelytobereversedintheforeseeablefuture;B.Taxableincomeislikelytobeobtainedinthefuturetooffsetthedeductibletemporarydifference;Atthebalancesheetdate,ifthereisconclusiveevidencethatsufficienttaxableincomeislikelytobeobtainedinthefutureperiodtooffsetthedeductibletemporarydifference,thedeferredincometaxassetsnotrecognizedinthepreviousperiodshallberecognized.Atthebalancesheetdate,theCompanyreviewsthebookvalueofthedeferredtaxassets.Writedownthebookvalueofthedeferredtaxassetifitislikelythatsufficienttaxableincomewillnotbeavailabletooffsetthebenefitofthedeferredtaxassetinfutureperiods.Whensufficienttaxableincomeislikelytobeobtained,theamountofthewrite-downshallbereversed.
(2)RecognitionofdeferredincometaxliabilitiesTheimpactofalltaxabletemporarydifferencesoftheCompanyonincometaxismeasuredattheexpectedincometaxrateduringthereversalperiodandisrecognizedasadeferredincometaxliability,exceptinthefollowingcases:
①Theeffectoftaxabletemporarydifferencesonincometaxarisingfromthefollowingtransactionsoreventsisnotdeterminedasadeferredincometaxliability:
A.Initialrecognitionofgoodwill;B.Initialrecognitionofassetsorliabilitiesarisingfromtransactionshavingthefollowingcharacteristics:thetransactionisnotabusinesscombinationandaffectsneitheraccountingprofitnortaxableincomeordeductiblelosseswhenthetransactionoccurs.
②TheimpactamountofincometaxoftheCompany'staxabletemporarydifferencesrelatedtoitsinvestmentsinsubsidiaries,associatedenterprisesandjointventuresshallberecognizedasdeferredincometaxliabilities,exceptwherethefollowingtwoconditionsaremet:
A.TheCompanycancontrolthetimeforthetemporarydifferencetobereversed;B.Thetemporarydifferenceisunlikelytoreverseintheforeseeablefuture.
(3)Recognitionofdeferredincometaxliabilitiesorassetsinvolvedinaparticulartransactionorevent
①DeferredincometaxliabilitiesorassetsrelatedtothebusinesscombinationFortaxabletemporarydifferencesordeductibletemporarydifferencesarisingfrombusinesscombinationsnotunderthesamecontrol,whenadeferredtaxliabilityordeferredtaxassetisrecognized,theassociateddeferredincometaxexpense(orincome)isusuallyadjustedforthegoodwillrecognizedinthebusinesscombination.
②Itemsdirectlyincludedinowners'equityThecurrentincometaxanddeferredincometaxrelatedtothetransactionoreventdirectlyincludedintheowner'sequityshallbeincludedintheowner'sequity.Theinfluenceoftemporarydifferencesonincometaxesareincludedinthetransactionsoreventsofowners'equity,includingothercomprehensiveincomegeneratedbychangesinfairvalueofothercreditor'srightsinvestments,retainedearningsatthebeginningoftheperiodadoptingretroactiveadjustmentmethodforchangesinaccountingpoliciesoradjustingretroactiverestatementmethodforprior(orimportant)accountingerrorscorrectiondifference,andhybridfinancialinstrumentscontainingbothliabilitiesingredientsandequityingredientsatthesametimeincludedintheowner'sequityattheinitialrecognition,etc.
③RecoverablelossandtaxdeductionA.RecoverablelossesandtaxdeductionsarisingfromtheCompany'sownoperationsDeductiblelossreferstothelosscalculatedanddeterminedinaccordancewiththeprovisionsofthetaxlawwhichisallowedtobemadeupwiththetaxableincomeofsubsequentyears.Uncoveredlosses(deductiblelosses)andtaxdeductionsthatcanbecarriedforwardtosubsequentyearsinaccordancewiththeprovisionsofthetaxlawshallbedealtwithasdeductibletemporarydifferences.Wheresufficienttaxableincomeislikelytobeobtainedinthefutureperiodsinwhichlossesortaxdeductionsareexpectedtobeavailable,thecorrespondingdeferredincometaxassetshallberecognizedwithinthelimitofthetaxableincomelikelytobeobtained,andtheincometaxexpenseinthecurrentincomestatementshallbereduced.B.RecoverableuncoveredlossesofthecombinedenterpriseresultingfrombusinesscombinationInabusinesscombination,theCompanyshallnotrecognizethedeductibletemporarydifferencesacquiredbytheacquireethatdonotmeettheconditionsfortherecognitionofdeferredincometaxassetsonthepurchasedate.Within12monthsaftertheacquisitiondate,ifneworfurtherinformationindicatesthatrelevantconditionsexistedonthedateofpurchase,anditisexpectedthattheeconomicbenefitsoftheacquireebroughtbythedeductibletemporarydifferencesonthepurchasedatecanberealized,recognizetherelevantdeferredincometaxassets,andreducethegoodwillatthesametime,ifthegoodwillisinsufficientforwrite-down,thedifferencepartshallberecognizedasthecurrentprofitsandlosses;Inadditiontotheaboveconditions,thedeferredincometaxassetsrelatedtothebusinesscombinationshallberecognizedandrecordedintothecurrentprofitsandlosses.
④TemporarydifferencesformedbymergeroffsetWhenpreparingtheconsolidatedfinancialstatements,wherethereisatemporarydifferencebetweenthebookvalueoftheassetsorliabilitiesintheconsolidatedbalancesheetandthetaxbaseofthetaxableentityduetotheoffsetofunrealizedinternalsalesgainsandlosses,thedeferredincometaxassetsanddeferredincometaxliabilitiesshallberecognizedintheconsolidatedbalancesheet,andtheincometaxexpensesintheconsolidatedincomestatementshallbeadjustedatthesametime,butexceptforthetransactionsoreventsdirectlyincludedinowners'equityandthedeferredincometaxesrelatedtothebusinesscombination.
⑤Equity-settledshare-basedpaymentsIfthetaxlawallowsapre-taxdeductionforexpensesrelatedtoshare-basedpayments,withintheperiodduringwhichcostsandexpensesarerecognizedinaccordancewithaccountingstandards,theCompanyshallcalculateanddetermineitstaxbaseandtemporarydifferencesarisingtherefromaccordingtotheamountofpre-taxdeductionsestimatedbytheinformationobtainedattheendoftheaccountingperiod,andrecognizetherelevantdeferredincometaxesincompliancewithrecognitionconditions.Amongthem,theamountthatcanbedeductedbeforetaxinthefutureperiodisexpectedtoexceedthecostandexpenserelatedtoshare-basedpaymentrecognizedinaccordancewiththeprovisionsofaccountingstandards,andtheincometaximpactoftheexcesspartshallbedirectlyrecordedintotheowner'sequity.
27.LeasingTheleasesthattransfersubstantiallyalltherisksandrewardsassociatedwiththeownershipofassetsareregardedasfinancialleases,exceptforthosethatareoperatingleases.
(1)Accountingtreatmentofoperatingleases
①WhentheCompanyactsasthelesseeofanoperatinglease,therentalexpensesoftheoperatingleaseshallberecordedintothecurrentprofitsandlossesineachperiodoftheleasetermaccordingtothestraightlinemethodoraccordingtotheusageoftheleasedasset.Wherethelessorprovidesarent-freeperiod,theCompanyshallallocatethetotalrentbythestraightlinemethodorotherreasonablemethodsthroughouttheentireleasetermwithoutdeductingtherent-freeperiod,andrecognizetherentexpensesandthecorrespondingliabilitiesduringtherent-freeperiod.Ifthelessorbearscertainexpensesofthelessee,theCompanyshallallocatetherentexpensebalanceafterdeductingsuchexpensesfromthetotalrentexpensesduringtheleaseterm.Initialdirectexpensesarerecordedintotheprofitsandlossesofthecurrentperiod.Ifthereiscontingentrentagreedintheagreement,itwillberecordedintothecurrentprofitandlosswhenitactuallyoccurs.
②WhentheCompanyactsasalessorofanoperatinglease,straightlinemethodisadoptedtorecognizetherent
receivedasincomeduringtheleaseterm.Wherethelessorprovidesarent-freeperiod,thelessorshallallocatethetotalrentbythestraightlinemethodorotherreasonablemethodsthroughouttheleasetermwithoutdeductingtherent-freeperiod,andthelessorshallalsorecognizetherentalincomeduringtherent-freeperiod.Ifthelesseebearscertainexpenses,theCompanyshallallocatesuchexpenseswithintheleasetermaccordingtothebalanceoftherentalincomeafterdeductingsuchexpensesfromthetotalrentalincome.Initialdirectexpensesarerecordedintotheprofitsandlossesofthecurrentperiod.Thelargeramountwillbecapitalizedandrecordedintothecurrentprofitsandlossesonthesamebasisastherentalincomeduringtheentireoperatingleaseterm.Ifthereiscontingentrentagreedintheagreement,itshallberecordedintocurrentincomewhenitactuallyoccurs.
(2)Accountingtreatmentoffinancelease
①WhentheCompanyisthelesseeofafinancelease,onthebeginningdateoftheleaseterm,thelowerofthefairvalueoftheleasedassetandthepresentvalueoftheminimumleasepaymentonthebeginningdateoftheleaseshallberegardedastherecordvalueoftheleasedasset,theminimumleasepaymentshallberegardedastherecordvalueofthelong-termpayable,andthedifferenceshallberegardedasunrecognizedfinancefees.Ineachperiodoftheleaseterm,theeffectiveinterestratemethodisadoptedforapportionment,whichisrecognizedasthecurrentfinancingcostsandincludedintothefinancialexpenses.Theinitialdirectexpensesincurredshallbeincludedinthevalueoftheleasedasset.Whencalculatingthedepreciationoffinanceleaseassets,theCompanyadoptsthedepreciationpolicyconsistentwithitsowndepreciableassets,andtheperiodofdepreciationisdeterminedbytheleasecontract.IfitcanreasonablybedeterminedthattheCompanywillacquireownershipoftheleasedassetattheexpirationoftheleaseterm,thelifeoftheleasedassetonthecommencementdateoftheleasetermwillberegardedasthedepreciationperiod.IfitcannotreasonablybedeterminedwhethertheCompanywillbeabletoacquireownershipoftheleasedassetattheexpirationoftheleaseterm,theshorteroftheleasetermorthelifeoftheleasedassetshallbetakenasthedepreciationperiod.
②WhentheCompanyactsasthelessorofthefinancelease,thesumoftheminimumleasereceivablesontheleasecommencementdateandtheinitialdirectexpensesshallberecordedasthebookvalueofthefinanceleasereceivablesontheleasecommencementdateandrecordedintothelong-termreceivablesinthebalancesheet,andtheunsecuredresidualvalueshallberecordedatthesametime.Thedifferencebetweenthesumoftheminimumleasereceivables,theinitialdirectexpensesandtheunsecuredresidualvalueanditspresentvalueisregardedasunrealizedfinancingincome,whichisrecognizedasleaseincomebyusingtheeffectiveinterestratemethodineachperiodoftheleaseterm.
28.ImportantaccountingjudgementandestimatesTheCompanycontinuouslyevaluatestheusedsignificantaccountingestimatesandkeyassumptionsbasedonhistoricalexperienceandotherfactors,includingreasonableexpectationsoffutureevents.Significantaccountingestimatesandkeyassumptionsthatarelikelytoleadtoasignificantadjustmentriskinthecarryingvalueofassetsandliabilitiesinthenextfiscalyeararelistedasbelow:
ClassificationoffinancialassetsTheCompany'smajorjudgmentsinvolvedindeterminingtheclassificationoffinancialassetsincludetheanalysisofbusinessmodelandcontractcashflowcharacteristics.TheCompanydeterminesthebusinessmodelforthemanagementoffinancialassetsattheleveloffinancialassetportfolio,factorstakenintoaccountincludethewayinwhichtheperformanceoffinancialassetsisevaluatedandreportedtokeymanagementpersonnel,therisksaffectingtheperformanceoffinancialassetsandthewayinwhichtheperformanceoffinancialassetsismanaged,andthewayinwhichthemanagementpersonnelofrelatedbusinessesarecompensated,etc.Whenevaluatingwhetherthecontractualcashflowoffinancialassetsisconsistentwiththebasiclendingarrangement,theCompanyhasthefollowingmajorjudgments:whethertheprincipalmaychangeinthetimedistributionoramountwithinthedurationduetorepaymentinadvanceorotherreasons;whethertheinterestincludesonlythetimevalueofmoney,creditrisk,otherfundamentalborrowingrisks,andconsiderationforcostsandprofits.Forexample,whethertheamountrepaidinadvanceonlyreflectstheoutstandingprincipalandinterestbasedontheoutstandingprincipal,aswellasreasonablecompensationpaidforearlyterminationofthecontract.MeasurementofexpectedcreditlossofaccountsreceivableTheCompanycalculatestheexpectedcreditlossofaccountsreceivablethroughtheexposureatdefaultofaccountsreceivableandtheexpectedcreditlossrate,anddeterminestheexpectedcreditlossratebasedontheprobabilityofdefaultandthelossgivendefault.Whendeterminingtheexpectedcreditlossrate,theCompanyusesdatasuchasitsinternalhistoricalcreditlossexperience,andadjustshistoricaldatainthelightofcurrentconditionsandforward-lookinginformation.Whenconsideringforward-lookinginformation,theCompanyusesindicatorssuchastheriskofeconomicdownturns,externalmarketconditions,technologicalenvironmentandchangesincustomerconditions.TheCompanyregularlymonitorsandreviewsassumptionsrelatedtothecalculationofexpectedcreditlosses.DeferredtaxassetsDeferredtaxassetsshouldberecognizedforallunutilizedtaxlossestotheextentthatthereisahighlikelihoodofsufficienttaxableprofittooffsettheloss.Thisrequiresmanagementtouseagreatdealofjudgmenttoestimatethetimingandamountoffuturetaxableprofits,andcombinewithtaxplanningstrategiestodeterminetheamount
ofdeferredtaxassetstoberecognized.DeterminationoffairvalueofunlistedequityinvestmentsThefairvalueofanunlistedequityinvestmentistheprojectedfuturecashflowdiscountedbythecurrentdiscountrateoftheprojectwithsimilartermsandriskcharacteristics.SuchvaluationrequirestheCompanytoestimateexpectedfuturecashflowsanddiscountratesandisthereforesubjecttouncertainty.Inlimitedcases,wheretheinformationusedtodeterminethefairvalueisinsufficient,orwherethepossibleestimatedamountsofthefairvaluearedistributedoverawiderangeandthecostrepresentsthebestestimateofthefairvaluewithinthatrange,thecostmayrepresenttheappropriateestimateofthefairvaluewithinthatrange.
29.Changesofimportantaccountingpoliciesandaccountingestimate
(1)Changesofimportantaccountingpolicies
□Applicable√Notapplicable
(2)Changesofimportantaccountingestimate
□Applicable√Notapplicable
(3)Adjustmentontherelevantitemsoffinancialstatementatbeginningoftheyearwhenimplementedthenewleasingstandardssince2021ApplicableWhetherneedtoadjustthebalancesheetitemsatthebeginningoftheyear
□Yes√NoExplainthereasonsofnoneedtoadjustthebalancesheetitemsatthebeginningoftheyearOn7December2018,theMinistryofFinancerevisedandissuedthe“AccountingStandardsforBusinessEnterprisesNo.21-Leasing”(CaiKuai[2018]No.35)(hereinafterreferredtoasNewLeasingStandards),andrequirestheenterpriseslistedbothdomesticallyandinternationally,aswellasenterpriseslistedaboardwithadoptionoftheIFRSorASBEsforthepreparationoffinancialstatement,shouldimplementedthenewleasingstandardssince1Jan.2019;otherenterpriseimplementingASBEswillbeeffectivefrom1Jan.2021.TheCompanydisclosetheaccountingstatementsinaccordancewiththerequirementsofthenewleasingstandardsfrom1Jan.2021,withoutadjustingthecomparablefiguresforyearof2020,andtheaccountingpolicychangewillnotaffectrelevantfinancialindexoftheCompanyforyearof2020.
(4)Retrospectiveadjustmentofearlycomparisondatadescriptionwhenimplementedthenewleasingstandardssince2021
□Applicable√Notapplicable
30.Other
VI.Taxes
1.Typeoftaxandrateformainapplicabletax
| Taxes | Basis | Rate |
| VAT | Sellinggoodsorprovidingtaxableservices | 13%,11%,9%,5%,6%,3% |
| Consumptiontax | Sellgoods | 10% |
| Urbanmaintenanceandconstructiontax | Turnovertaxpayable | 7% |
| Enterpriseincometax | Taxableincome | 20%,25% |
| Propertytax | Price-basedresourcetax,1.2percentoftheremainingvalueafterdeducting30%oftheoriginalvalueoftheproperty;taxon12%ofrentincomeforcalculationandcollectionbasedonrent | 1.2%,12% |
| Educationalsurtax | Turnovertaxpayable | 3% |
| Localeducationsurcharge | Turnovertaxpayable | 2% |
Rateofincometaxfordifferenttaxpayingbody:
| Taxpayingbody | Rateofincometax |
| ShenzhenXinyongtongMotorVehicleTestingEquipmentCo.,Ltd. | 20% |
| ShenzhenHuariAnxinAutomobileInspectionCo.,Ltd. | 20% |
| Othertaxpayingbodythantheabove | 25% |
2.TaxpreferentialAccordingtothe“NoticeonImplementationofPreferentialTax-reduction&ExemptionPoliciesforSmall&MicroEnterprises”(CaiShui[2019]No.13)issuedbySAT(StateAdministrationofTaxation),ShenzhenXinyongtongAutomobileInspectionEquipmentCo.Ltdenjoysthepreferentialtaxpoliciesforsmallµenterpriseswithenterpriseincometaxattherateof20%.
3.Other
VII.Annotationtomainitemsofconsolidatedfinancialstatements
1.Monetaryfunds
InRMB
| Item | Endingbalance | Openingbalance |
| Cashonhand | 9,536.20 | 20,542.55 |
| Cashinbank | 387,696,811.74 | 237,605,156.38 |
| Othermonetaryfund | ||
| Total | 387,706,347.94 | 237,625,698.93 |
| Including:totalamountdepositedinoverseas | ||
| Thetotalamountofmoneythathasrestrictionsonuseduetomortgage,pledgeorfreezing | 29,646,654.29 | 29,163,042.30 |
Bankdepositsof29,646,654.29yuanisthesupervisionfundbytheCompanydevelopedthelandplot03projectoftheupgradingprojectofTellus-GmanGoldJewelryIndustrialPark.Inaddition,therearenootheramountinthemonetaryfundsattheendoftheperiodthataresubjecttorestrictionsonuseandpotentialrecoveryrisksduetomortgages,pledgesorfreezes.
2.Tradingfinancialassets
InRMB
| Item | Endingbalance | Openingbalance |
| Financialassetsmeasuredbyfairvalueandwithvariationreckonedintocurrentgains/losses | 211,374,917.81 | 314,013,869.86 |
| Including:structureddepositsandwealthmanagementproducts | 211,374,917.81 | 314,013,869.86 |
| Total | 211,374,917.81 | 314,013,869.86 |
3.Derivativefinancialassets
□Applicable√Notapplicable
4.Notereceivable
□Applicable√Notapplicable
5.Accountreceivable
(1)Category
InRMB
| Category | Endingbalance | Openingbalance | ||||||||
| Bookbalance | Baddebtprovision | Bookvalue | Bookbalance | Baddebtprovision | Bookvalue | |||||
| Amount | Ratio | Amount | Accrualratio | Amount | Ratio | Amount | Accrualratio | |||
| Accountreceivablewithbaddebtprovisionaccrualonasinglebasis | 49,125,862.29 | 68.43% | 49,125,862.29 | 100.00% | - | 49,125,862.29 | 71.04% | 49,125,862.29 | 100.00% | - |
| Accountreceivablewithbaddebtprovisionaccrualonportfolio | 22,663,676.97 | 31.57% | 200,423.74 | 0.88% | 22,463,253.23 | 20,028,934.10 | 28.96% | 200,423.74 | 1.00% | 19,828,510.36 |
| Total | 71,789,539.26 | 100.00% | 49,326,286.03 | 68.71% | 22,463,253.23 | 69,154,796.39 | 100.00% | 49,326,286.03 | 71.33% | 19,828,510.36 |
Baddebtprovisionaccrualonsinglebasis:
InRMB
| Name | Endingbalance | |||
| Bookbalance | Baddebtprovision | Accrualratio | Accrualcauses | |
| ShenzhenJinluIndustryandTradeCo.,Ltd. | 9,846,607.00 | 9,846,607.00 | 100.00 | Theaccountageislongandisnotexpectedtoberecovered |
| GuangdongZhanjiangSanxingAutoServiceCo.,Ltd. | 4,060,329.44 | 4,060,329.44 | 100.00 | Theaccountageislongandisnotexpectedtoberecovered |
| WangChanglong | 2,370,760.40 | 2,370,760.40 | 100.00 | Theaccountageislongandisnotexpectedtoberecovered |
| HuizhouJiandacheng | 2,021,657.70 | 2,021,657.70 | 100.00 | Theaccountageislong |
| DaoqiaoEngineeringCompany | andisnotexpectedtoberecovered | |||
| JianglingAutomobileFactory | 1,191,059.98 | 1,191,059.98 | 100.00 | Theaccountageislongandisnotexpectedtoberecovered |
| YangjiangAutoTradeCo.,Ltd. | 1,150,000.00 | 1,150,000.00 | 100.00 | Theaccountageislongandisnotexpectedtoberecovered |
| GuangdongMaterialsGroupCorp | 1,862,000.00 | 1,862,000.00 | 100.00 | Theaccountageislongandisnotexpectedtoberecovered |
| Other | 26,623,447.77 | 26,623,447.77 | 100.00 | Theaccountageislongandisnotexpectedtoberecovered |
| Total | 49,125,862.29 | 49,125,862.29 | -- | -- |
Baddebtprovisionaccrualonportfolio:
InRMB
| Name | Endingbalance | ||
| Bookbalance | Baddebtprovision | Accrualratio | |
| Agingportfolio | 22,663,676.97 | 200,423.74 | 0.88% |
| Total | 22,663,676.97 | 200,423.74 | -- |
Explanationonportfoliodetermines:
Iftheprovisionforbaddebtsofaccountreceivableismadeinaccordancewiththegeneralmodelofexpectedcreditlosses,pleaserefertothedisclosureofotheraccountreceivablestodiscloserelatedinformationaboutbad-debtprovisions:
□Applicable√NotapplicableByaccountage
InRMB
| Accountage | Endingbalance |
| Withinoneyear(includingoneyear) | 22,660,316.97 |
| 1-2years | 3,360.00 |
| Over3years | 49,125,862.29 |
| Over5years | 49,125,862.29 |
| Total | 71,789,539.26 |
(2)Baddebtprovisionaccrual,collectedorreversalintheperiod
Baddebtprovisionaccrualintheperiod:
InRMB
| Category | Openingbalance | Amountchangedintheperiod | Endingbalance | |||
| Accrual | Collectedorreversal | Written-off | Other | |||
| Accountsreceivablewithsingleitemprovisionforbad | 49,125,862.29 | 49,125,862.29 | ||||
| debts | |||
| Accountsreceivablewithprovisionforbaddebtsbycombination | 200,423.74 | 200,423.74 | |
| Total | 49,326,286.03 | 49,326,286.03 |
(3)Accountreceivableactuallywritten-offintheperiod
Nil
(4)Top5accountreceivablesatendingbalancebyarrearsparty
InRMB
| Enterprise | Endingbalanceofaccountsreceivable | Proportionintotalreceivablesatendingbalance | Baddebtpreparationendingbalance |
| ShenzhenJinluIndustryandTradeCo.,Ltd. | 9,846,607.00 | 13.72 | 9,846,607.00 |
| GuangdongZhanjiangSanxingAutoServiceCo.,Ltd. | 4,060,329.44 | 5.66 | 4,060,329.44 |
| ShenzhenShangjinyuanJewelryIndustryCo.,Ltd. | 3,094,799.85 | 4.31 | 33,906.53 |
| WangChanglong | 2,370,760.40 | 3.30 | 2,370,760.40 |
| GuangdongMaterialsGroup | 1,862,000.00 | 2.59 | 1,862,000.00 |
| Total | 21,234,496.69 | 29.58 |
(5)Accountreceivablederecognitionduetofinancialassetstransfer
Nil
(6)Assetsandliabilitiesresultedbyaccountreceivabletransferandcontinuesinvolvement
Nil
6.AccountreceivablefinancingNil
7.Accountspaidinadvance
(1)Byaccountage
InRMB
| Accountage | Endingbalance | Openingbalance | ||
| Amount | Ratio | Amount | Ratio | |
| Withinoneyear | 11,402,054.94 | 99.88% | 9,834,423.80 | 99.86% |
| 1-2years | 800.00 | 0.01% | 800.00 | 0.01% |
| 2-3years | 632.00 | 632.00 | 0.01% | |
| Over3years | 11,893.94 | 0.10% | 11,893.94 | 0.12% |
| Total | 11,415,380.88 | -- | 9,847,749.74 | -- |
(2)Top5accountpaidinadvanceatendingbalancebyprepaymentobject
| Name | Endingbalance | Proportioninprepaymentbalanceattheendofperiod |
| FAWToyotaMotorSalesCo.,Ltd. | 6,730,597.91 | 58.96% |
| ToyotaMotor(China)InvestmentCo.,Ltd. | 1,335,990.00 | 11.70% |
| XiaopengAutomobileSalesCo.,Ltd. | 582,456.88 | 5.10% |
| ShenzhenGorgeousDecorationFurnitureEnterpriseCompany | 494,476.31 | 4.33% |
| ShenzhenShengshiClassicLightingTechnologyCo.,Ltd. | 354,341.44 | 3.10% |
| Total | 9,497,862.54 | 83.20% |
8.Otheraccountreceivable
InRMB
| Item | Endingbalance | Openingbalance |
| Dividendreceivable | 24,647,732.42 | 24,647,732.42 |
| Otheraccountreceivable | 6,960,884.99 | 4,622,058.41 |
| Total | 31,608,617.41 | 29,269,790.83 |
(1)Interestreceivable
□Applicable√Notapplicable
(2)Dividendreceivable
1)Category
InRMB
| Item(orinvestedunit) | Endingbalance | Openingbalance |
| ChinaPudongDevelopmentMachineryIndustryCo.,Ltd | 547,184.35 | 547,184.35 |
| ShenzhenDongfengMotorCo.,Ltd. | 24,100,548.07 | 24,100,548.07 |
| Total | 24,647,732.42 | 24,647,732.42 |
(3)Otheraccountreceivable
1)Bynature
InRMB
| Nature | Endingbookbalance | Openingbookbalance |
| Depositmargin | 477,190.50 | 477,190.50 |
| Reservefund | 18,622.20 | 13,822.20 |
| Interimpaymentreceivable | 58,228,121.58 | 55,894,095.00 |
| Total | 58,723,934.28 | 56,385,107.70 |
2)Accrualofbaddebtprovision
InRMB
| Baddebtprovision | PhaseI | PhaseII | PhaseIII | Total |
| Expectedcreditlossesovernext12months | Expectedcreditlossesfortheentireduration(withoutcreditimpairmentoccurred) | Expectedcreditlossesfortheentireduration(withcreditimpairmentoccurred) | ||
| BalanceonJan.1,2021 | 109,600.10 | 51,653,449.19 | 51,763,049.29 | |
| BalanceofJan.1,2021intheperiod | —— | —— | —— | —— |
| --Transfertothesecondstage |
| --Transfertothethirdstage | ||||
| --Reversaltothesecondstage | ||||
| --Reversaltothefirststage | ||||
| Currentaccrual | ||||
| Currentswitchback | ||||
| Currentconversion | ||||
| Currentwriteoff | ||||
| Otherchange | ||||
| BalanceonJun.30,2021 | 109,600.10 | 51,653,449.19 | 51,763,049.29 |
Changeofbookbalanceoflossprovisionwithamounthasmajorchangesintheperiod
□Applicable√NotapplicableByaccountage
InRMB
| Accountage | Endingbalance |
| Withinoneyear(includingoneyear) | 4,139,121.19 |
| 1-2years | 161,722.86 |
| 2-3years | 417,554.97 |
| Over3years | 54,005,535.26 |
| Over5years | 54,005,535.26 |
| Total | 58,723,934.28 |
Note:thenotestootherreceivableshouldstatewhetherthereisasinglematerialreceivablewithanageofmorethanthreeyearand,ifso,disclosedindetailthereasonsforthehighlevelofsuchreceivablesandindicatetherisksofrecovery,etc.
3)Baddebtprovisionaccrual,collectedorreversalintheperiod
Baddebtprovisionaccrualintheperiod:
InRMB
| Category | Openingbalance | Amountchangedintheperiod | Endingbalance | |||
| Accrual | Collectedorreversal | Writtenoff | Other | |||
| Singleprovisionforbaddebts | 49,301,363.12 | 49,301,363.12 | ||||
| Provisionforbaddebtsbycombination | 2,461,686.17 | - | - | 2,461,686.17 | ||
| Total | 51,763,049.29 | 51,763,049.29 | ||||
4)Otheraccountreceivableactuallywritten-offintheperiod
Nil
5)Top5otherreceivablesatendingbalancebyarrearsparty
InRMB
| Enterprise | Nature | Endingbalance | Accountage | Ratiointotalendingbalanceofother | Endingbalanceofbaddebtreserve |
| accountreceivables | |||||
| ZhongqiSouthChinaAutoSalesCompany | Intercoursefunds | 9,832,956.37 | Over3years | 16.74% | 9,832,956.37 |
| SouthIndustry&TRADEShenzhenIndustrialCompany | Intercoursefunds | 7,359,060.75 | Over3years | 12.53% | 7,359,060.75 |
| ShenzhenZhonghao(Group)Co.,Ltd | Intercoursefunds | 5,000,000.00 | Over3years | 8.51% | 5,000,000.00 |
| ShenzhenKaifengSpecialAutomobileIndustryCo.,Ltd. | Intercoursefunds | 4,413,728.50 | Over3years | 7.52% | 4,413,728.50 |
| ShenzhenGoldBeiliElectricalAppliancesCo.,Ltd. | Intercoursefunds | 2,706,983.51 | Over3years | 4.61% | 2,706,983.51 |
| Total | -- | 29,312,729.13 | -- | 49.92% | 29,312,729.13 |
6)Otheraccountreceivablesrelatedtogovernmentgrants
Notapplicable
7)OtherreceivableforterminationofconfirmationduetothetransferoffinancialassetsNotapplicable
8)Theamountofassetsandliabilitiesthataretransferredotherreceivableandcontinuedtobeinvolved
Notapplicable
1.Inventories
DoesthecompanyneedtocomplywiththedisclosurerequirementsoftherealestateindustryNo
Category
InRMB
| Item | Endingbalance | Openingbalance | ||||
| Bookbalance | Provisionforinventorydepreciationorcontractperformancecostimpairmentprovision | Bookvalue | Bookbalance | Provisionforinventorydepreciationorcontractperformancecostimpairmentprovision | Bookvalue | |
| Rawmaterials | 15,656,716.17 | 14,772,382.17 | 884,334.00 | 15,481,888.98 | 14,772,382.17 | 709,506.81 |
| Inventory | 26,043,517.76 | 14,145,300.62 | 11,898,217.14 | 35,515,473.74 | 14,145,300.62 | 21,370,173.12 |
| Consignmentmerchandise | 6,307,872.38 | |||||
| Consignmentmerchandise | -6,307,872.38 | |||||
| Total | 41,700,233.93 | 28,917,682.79 | 12,782,551.14 | 50,997,362.72 | 28,917,682.79 | 22,079,679.93 |
Provisionforinventorydepreciationorcontractperformancecostimpairmentprovision
InRMB
| Item | Openingbalance | Currentamountincreased | Currentamountdecreased | Endingbalance | Note | ||
| Accrual | Other | Reversalorwrite-off | Other | ||||
| Rawmaterials | 14,772,382.17 | 14,772,382.17 | |||||
| Inventory | 14,145,300.62 | 14,145,300.62 | |||||
| Total | 28,917,682.79 | 28,917,682.79 | -- | ||||
Theinterestcapitalizationrateintheinventorybalanceattheendoftheperiod
NotapplicableInventoryrestrictions
Notapplicable
Explanationoninventorieswithcapitalizationofborrowingcostsincludedatendingbalance
NotapplicableDescriptionofthecurrentamortizationamountofcontractperformancecosts
Notapplicable
10.Contractassets
Notapplicable
11.Assetsheldforsale
Notapplicable
12.Non-currentassetduewithinoneyear
Notapplicable
13.Othercurrentassets
InRMB
| Item | Endingbalance | Openingbalance |
| InputVATtobededucted | 4,379,772.91 | 6,000,566.69 |
| Total | 4,379,772.91 | 6,000,566.69 |
14.Creditors’investment
Notapplicable
15.Othercreditors’investment
Notapplicable
16.Long-termaccountreceivable
(1)Long-termaccountreceivable
InRMB
| Item | Endingbalance | Openingbalance | Discountrateinterval | ||||
| Bookbalance | Baddebtprovision | Bookvalue | Bookbalance | Baddebtprovision | Bookvalue | ||
| Relatedtransactions | 2,179,203.68 | 2,179,203.68 | - | 2,179,203.68 | 2,179,203.68 | - | |
| Total | 2,179,203.68 | 2,179,203.68 | - | 2,179,203.68 | 2,179,203.68 | -- | |
Impairmentofbaddebtprovision
InRMB
| Baddebtprovision | PhaseI | PhaseII | PhaseIII | Total |
| Expectedcreditlossesovernext12months | Expectedcreditlossesfortheentireduration(withoutcreditimpairmentoccurred) | Expectedcreditlossesfortheentireduration(withcreditimpairmentoccurred) | ||
| BalanceofJan.1,2021 | 2,179,203.68 | 2,179,203.68 | ||
| BalanceofJan.1,2020intheperiod | —— | —— | —— | —— |
| --Transfertothesecondstage | ||||
| --Transfertothethirdstage | ||||
| --Reversaltothesecondstage | ||||
| --Reversaltothefirststage | ||||
| Currentprovision | ||||
| Currentreversal | ||||
| Currentconversion | ||||
| Currentwriteoff | ||||
| Otherchange | ||||
| BalanceofJun.30,2020 | 2,179,203.68 | 2,179,203.68 |
Changeofbookbalanceoflossprovisionwithamounthasmajorchangesintheperiod
□Applicable√Notapplicable
(2)Long-termaccountreceivablederecognitionduetofinancialassetstransfer
Notapplicable
(3)Assetsandliabilitiesresultedbylong-termaccountreceivabletransferandcontinuesinvolvement
Notapplicable
17.Long-termequityinvestment
InRMB
| Theinvestedentity | Openingbalance(bookvalue) | Currentchanges(+,-) | Endingbalance(bookvalue) | Endingbalanceofimpairmentprovision | |||||||
| Additionalinvestment | Capitalreduction | Investmentgainsrecognizedunderequity | Othercomprehensiveincomeadjustment | Otherequitychange | Cashdividendorprofitannouncedtoissued | Accrualofimpairmentprovision | Other | ||||
| I.Jointventure | |||||||||||
| ShenzhenTellusGmanInvestmentCo.,Ltd | 37,666,741.13 | 4,623,167.75 | 42,289,908.88 | ||||||||
| Shenzhen | 12,697,42 | 361,200.1 | 13,058,62 | ||||||||
| TellusHangInvestmentCo.,Ltd. | 4.88 | 5 | 5.03 | |||
| Subtotal | 50,364,166.01 | 4,984,367.90 | 55,348,533.91 | |||
| II.Associatedenterprise | ||||||
| ShenzhenZungFuTellusAutoServiceCo.,Ltd. | 33,607,146.14 | 7,549,787.52 | 41,156,933.66 | |||
| ShenzhenAutomobileIndustryImportandExportCo.,Ltd. | 995,270.33 | -203,702.12 | 791,568.21 | |||
| ShenzhenDongfengMotorCo.,Ltd. | 38,674,373.09 | -2,646,814.83 | 36,027,558.26 | |||
| ShenzhenXinyongtongOilPumpEnvironmentProtectionCo.,Ltd. | 127,836.59 | |||||
| ShenzhenXinyongtongConsultantCo.,Ltd. | 41,556.83 | |||||
| ShenzhenTellusAutomobileServiceChain | ||||||
| Co.,Ltd.[Note3] | ||
| ShenzhenXinyongtongAutoServiceCo.,Ltd.[Note3] | ||
| ShenzhenXinyongtongDongxiaoAutoServiceCo.,Ltd.[Note3] | ||
| ShenzhenYongtongXindaInspectionEquipmentCo.,Ltd.[Note3] | ||
| HunanChangyangIndustrialCo.,Ltd.[Note1] | 1,810,540.70 | |
| ShenzhenJiechengElectronicCo.,Ltd.[Note1] | 3,225,000.00 | |
| ShenzhenXiandaoNewMaterialsCo.,Ltd.[Note1] | 4,751,621.62 | |
| ChinaAutoIndustrial | 400,000.00 |
| ShenzhenTradingCompany[Note1] | ||||||
| ShenzhenGeneralStandardCo.,Ltd.[Note1] | 500,000.00 | |||||
| ShenzhenZhongqiSouthChinaAutoSalesCompany[Note1] | 2,250,000.00 | |||||
| ShenzhenBailiyuanPowerSupplyCo.,Ltd.[Note1] | 1,320,000.00 | |||||
| ShenzhenYiminAutoTradingCompany[Note1] | 200,001.10 | |||||
| ShenzhenTorchSparkPlugIndustryCompany | 17,849.20 | |||||
| Subtotal | 73,276,789.56 | 4,699,270.57 | 77,976,060.13 | 14,644,406.04 | ||
| ShenzhenHanligaoTechnologyCeramicsCo.,Ltd.[Note2] | 1,956,000.00 |
| ShenzhenSouthAutoMaintenanceCenter[Note2] | 6,700,000.00 | |||||
| Subtotal | 8,656,000.00 | |||||
| Total | 123,640,955.57 | 9,683,638.47 | 133,324,594.04 | 23,300,406.04 |
18.Otherequityinstrumentinvestment
InRMB
| Item | Endingbalance | Openingbalance |
| Unlistedequityinstrumentinvestment | 10,176,617.20 | 10,176,617.20 |
| Total | 10,176,617.20 | 10,176,617.20 |
Itemizeddisclosureofinvestmentinnon-tradingequityinstrumentsforthecurrentperiod
| Item | Recognizeddividendincome | Cumulativegain | Accumulatedloss | Theamountofothercomprehensiveincometransferredtoretainedearnings | Thereasonforthedesignationasbeingmeasuredatfairvalueandthechangeincludedinothercomprehensiveincome | Reasonsfortransferringothercomprehensiveincometoretainedincome |
| ChinaPudongDevelopmentMachineryIndustryCo.,Ltd | Strategicinvestmentthatisexpectedtobeheldforalongtime |
19.Othernon-currentfinancialassets
Notapplicable
20.Investmentrealestate
(1)Measuredatcost
√Applicable□Notapplicable
InRMB
| Item | Houseandbuilding | Landuseright | Constructioninprogress | Total |
| I.Originalbookvalue | ||||
| 1.Openingbalance | 639,235,625.45 | 49,079,520.00 | 688,315,145.45 | |
| 2.Currentamountincreased |
| (1)Outsourcing |
| (2)Inventory\fixedassets\constructioninprocesstransfer-in |
| (3)Increasedbycombination |
| 3.Currentamountdecreased |
| (1)Disposal |
| (2)Othertransfer-out |
| 4.Endingbalance | 639,235,625.45 | 49,079,520.00 | 688,315,145.45 | |
| II.Accumulateddepreciationandaccumulatedamortization | ||||
| 1.Openingbalance | 117,837,641.96 | 2,230,887.36 | 120,068,529.32 | |
| 2.Currentamountincreased | 9,341,071.38 | 557,721.84 | 9,898,793.22 | |
| (1)Accrualoramortization | 9,341,071.38 | 557,721.84 | 9,898,793.22 |
| 3.Currentamountdecreased |
| (1)Disposal |
| (2)Othertransfer-out |
| 4.Endingbalance | 127,178,713.34 | 2,788,609.20 | 129,967,322.54 | |
| III.Impairmentprovision | ||||
| 1.Openingbalance | ||||
| 2.Currentamountincreased | ||||
| (1)Accrual |
| 3.Currentamountdecreased |
| (1)Disposal |
| (2)Othertransfer-out |
| 4.Endingbalance | ||||
| IV.Bookvalue | ||||
| 1.Endingbookvalue | 512,056,912.11 | 46,290,910.80 | 558,347,822.91 |
| 2.Openingbookvalue | 521,397,983.49 | 46,848,632.64 | 568,246,616.13 |
(2)Measureatfairvalue
□Applicable√Notapplicable
(3)Investmentrealestatewithoutpropertycertificatecompleted
InRMB
| Item | Bookvalue | Reasons |
| ShuibeiJewelryBuildingPhaseI(HousesandBuildings) | 407,142,618.23 | Uncompletedsettlement,failuretohandletheownershipcertificate |
| 12buildingsinSungang | 13,814.69 | Failuretohandletheownershipcertificateforhistoricalreasons |
| 12buildingshopsinSungang | 42,855.15 | Failuretohandletheownershipcertificateforhistoricalreasons |
| Total | 407,199,288.07 |
21.Fixedassets
InRMB
| Item | Endingbalance | Openingbalance |
| Fixedassets | 115,624,967.86 | 119,136,917.91 |
| Fixedassetsliquidation | ||
| Total | 115,624,967.86 | 119,136,917.91 |
(1)Fixedassets
InRMB
| Item | Houseandbuildings | Machineryequipment | Transportequipment | Electronicequipment | Officeandotherequipment | Total |
| I.Originalbookvalue: | ||||||
| 1.Openingbalance | 281,403,065.30 | 22,284,034.71 | 5,177,216.34 | 10,901,047.18 | 6,719,081.84 | 326,484,445.37 |
| 2.Currentamountincreased | - | 26,371.68 | 747,895.10 | 1,198,770.77 | 110,236.79 | 2,083,274.34 |
| (1)Purchase | - | 26,371.68 | 747,895.10 | 1,198,770.77 | 110,236.79 | 2,083,274.34 |
| 3.Currentamountdecreased | - | 74,451.54 | 457,412.12 | 12,931.73 | - | 544,795.39 |
| (1)Disposalorscrap | - | 74,451.54 | 457,412.12 | 12,931.73 | 544,795.39 | |
| 4.Endingbalance | 281,403,065.30 | 22,235,954.85 | 5,467,699.32 | 12,086,886.22 | 6,829,318.63 | 328,022,924.32 |
| II.Accumulateddepreciation | ||||||
| 1.Openingbalance | 181,251,255.82 | 8,561,758.35 | 3,426,528.00 | 7,601,240.63 | 2,261,291.60 | 203,102,074.40 |
| 2.Currentamountincreased | 3,925,217.60 | 606,249.44 | 246,965.37 | 381,676.30 | 234,624.27 | 5,394,732.98 |
| (1)Accrual | 3,925,217.60 | 606,249.44 | 246,965.37 | 381,676.30 | 234,624.27 | 5,394,732.98 |
| 3.Currentamountdecreased | - | 67,006.38 | 265,659.05 | 11,638.55 | - | 344,303.98 |
| (1)Disposalorscrap | - | 67,006.38 | 265,659.05 | 11,638.55 | 344,303.98 | |
| 4.Endingbalance | 185,176,473.42 | 9,101,001.41 | 3,407,834.32 | 7,971,278.38 | 2,495,915.87 | 208,152,503.40 |
| III.Impairmentprovision | ||||||
| 1.Openingbalance | 3,836,768.43 | 319,675.11 | 6,165.00 | 17,984.71 | 64,859.81 | 4,245,453.06 |
| 2.Currentamountincreased | ||||||
| (1)Accrual | ||||||
| 3.Currentamountdecreased | ||||||
| (1)Disposalorscrap | ||||||
| 4.Endingbalance | 3,836,768.43 | 319,675.11 | 6,165.00 | 17,984.71 | 64,859.81 | 4,245,453.06 |
| IV.Bookvalue | ||||||
| 1.Endingbookvalue | 92,389,823.45 | 12,815,278.33 | 2,053,700.00 | 4,097,623.13 | 4,268,542.95 | 115,624,967.86 |
| 2.Openingbookvalue | 96,315,041.05 | 13,402,601.25 | 1,744,523.34 | 3,281,821.84 | 4,392,930.43 | 119,136,917.91 |
(2)Temporarilyidlefixedassets
Notapplicable
(3)Fixedassetsleasedoutbyoperation
InRMB
| Item | Endingbookvalue |
| Housebuilding | 67,589,117.03 |
(4)Fixassetswithoutpropertycertificationheld
InRMB
| Item | Bookvalue | Reasonsforwithoutthepropertycertification |
| YongtongBuilding | 29,591,993.09 | Failuretohandletheownershipcertificateforhistoricalreasons |
| Automotivebuilding | 15,093,229.49 | Failuretohandletheownershipcertificateforhistoricalreasons |
| TellusBuildingundergroundparking | 8,734,694.78 | Parkinglotisun-abletocarriedoutthecertificate |
| NuclearOfficebuild | 4,529,854.59 | Failuretohandletheownershipcertificateforhistoricalreasons |
| 1#,2#and3-5/F3#plantofTaoyuanRoad | 3,394,143.13 | Failuretohandletheownershipcertificateforhistoricalreasons |
| TellusBuildingtransformationlayer | 1,482,511.76 | Un-abletocarriedoutthecertificate |
| 16#TaohuaGarden | 1,313,385.78 | Failuretohandletheownershipcertificateforhistoricalreasons |
| ShuibeiZhongtiancomprehensivebuilding | 844,455.06 | Failuretohandletheownershipcertificateforhistoricalreasons |
| FirstfloorofBao’ancommercial-residencebuild | 851,351.25 | Failuretohandletheownershipcertificateforhistoricalreasons |
| Warehouse | 817,309.45 | Failuretohandletheownershipcertificateforhistoricalreasons |
| Tradedepartmentwarehouse | 67,468.69 | Failuretohandletheownershipcertificate |
| forhistoricalreasons | ||
| SongquanApartment(mixed) | 10,086.79 | Failuretohandletheownershipcertificateforhistoricalreasons |
| HostelofRenminNorthRoad | 5,902.41 | Failuretohandletheownershipcertificateforhistoricalreasons |
| Subtotal | 66,736,386.27 |
(5)Fixedassetsdisposal
Notapplicable
22.Constructioninprogress
InRMB
| Item | Endingbalance | Openingbalance |
| Constructioninprogress | 135,900,468.42 | 101,740,485.48 |
| Engineermaterial | ||
| Total | 135,900,468.42 | 101,740,485.48 |
(1)Constructioninprogress
InRMB
| Item | Endingbalance | Openingbalance | ||||
| Bookbalance | Impairmentprovision | Bookvalue | Bookbalance | Impairmentprovision | Bookvalue | |
| TellusJinzhuanTradingBuilding | 134,405,642.66 | 134,405,642.66 | 100,252,309.72 | 100,252,309.72 | ||
| 05plots | 1,397,981.44 | 1,397,981.44 | 1,391,331.44 | 1,391,331.44 | ||
| Otherprojects | 96,844.32 | 96,844.32 | 96,844.32 | 96,844.32 | ||
| Total | 135,900,468.42 | 135,900,468.42 | 101,740,485.48 | 101,740,485.48 | ||
(2)Changesofmajorconstructioninprogress
InRMB
| Item | Budget | Openingbalance | Currentamountincreased | Transfer-infixedassets | OtherdecreasedinthePeriod | Endingbalance | Proportionofprojectinvestmentinbudget | Progress | Accumulatedcapitalizationofinterest | Including:amountofcapitalizationofinterestinPeriod | InterestcapitalizationrateinPeriod | Sourcesoffunds |
| TellusJinzhuanTradingBuilding | 515,460,000 | 100,252,309.72 | 34,153,332.94 | 134,405,642.66 | 26.07% | 26.07% | 547,427.56 | 547,427.56 | 4.20% | Ownfundsandloansfromfinancialinstitut |
| ions | |||||||||||
| Total | 515,460,000 | 100,252,309.72 | 34,153,332.94 | 134,405,642.66 | -- | -- | 547,427.56 | 547,427.56 | 4.20% | -- |
(3)Theprovisionforimpairmentofconstructioninprogress
Notapplicable
(4)EngineeringmaterialNotapplicable
23.ProductivebiologicalassetNotapplicable
24.Oilandgasasset
Notapplicable
25.Right-of-useasset
Notapplicable
26.Intangibleassets
(1)Intangibleassets
InRMB
| Item | Landuseright | Trademark | Software | Total |
| I.Originalbookvalue | ||||
| 1.Openingbalance | 50,661,450.00 | 128,500.00 | 4,157,254.20 | 54,947,204.20 |
| 2.Currentamountincreased | ||||
| (1)Purchase | ||||
| 3.Currentamountdecreased | ||||
| (1)Disposal | ||||
| 4.Endingbalance | 50,661,450.00 | 128,500.00 | 4,157,254.20 | 54,947,204.20 |
| II.Accumulateddepreciation | ||||
| 1.Openingbalance | 1,790,459.00 | 94,972.64 | 1,434,099.35 | 3,319,530.99 |
| 2.Currentamountincreased | 378,142.08 | 23,869.88 | 314,703.53 | 716,715.48 |
| (1)Accrual | 378,142.08 | 23,869.88 | 314,703.53 | 716,715.48 |
| 3.Currentamountdecreased | - | - | - | - |
| (1)Disposal | - | - | - | - |
| 4.Endingbalance | 2,168,601.08 | 118,842.52 | 1,748,802.88 | 4,036,246.47 |
| III.Impairmentprovision | ||||
| 1.Openingbalance | ||||
| 2.Currentamountincreased | ||||
| (1)Accrual | ||||
| 3.Currentamountdecreased | ||||
| (1)Disposal | ||||
| 4.Endingbalance | ||||
| IV.Bookvalue | ||||
| 1.Endingbookvalue | 48,492,848.92 | 9,657.48 | 2,408,451.32 | 50,910,957.73 |
| 2.Openingbookvalue | 48,870,991.00 | 33,527.36 | 2,723,154.85 | 51,627,673.21 |
(2)Landuserightswithoutcertificateofownership
Notapplicable
27.ExpenseonResearchandDevelopment
Notapplicable
28.Goodwill
Notapplicable
29.Long-termexpensestobeapportioned
InRMB
| Item | Openingbalance | Currentamountincreased | Currentamortization | Otherdecreased | Endingbalance |
| Renovationcosts | 30,714,879.22 | 2,731,409.28 | 2,080,287.58 | 31,366,000.92 | |
| Total | 30,714,879.22 | 2,731,409.28 | 2,080,287.58 | 31,366,000.92 |
30.Deferredincometaxasset/Deferredincometaxliabilities
(1)Deferredincometaxassetswithoutoffset
InRMB
| Item | Endingbalance | Openingbalance | ||
| Deductibletemporarydifferences | Deferredincometaxasset | Deductibletemporarydifferences | Deferredincometaxasset | |
| Creditimpairmentprovision | 33,917,404.00 | 8,479,351.00 | 33,995,288.38 | 8,498,822.10 |
| Total | 33,917,404.00 | 8,479,351.00 | 33,995,288.38 | 8,498,822.10 |
(2)Deferredincometaxliabilitywithoutoffset
Notapplicable
(3)Deferredincometaxassetsanddeferredincometaxliabilitieslistedafteroff-setNotapplicable
(4)Detailsofuncertaindeferredincometaxassets
InRMB
| Item | Endingbalance | Openingbalance |
| Deductibletemporarydifferences | 126,457,938.51 | 126,380,054.13 |
| Deductibleloss | 27,588,656.95 | 27,588,656.95 |
| Total | 154,046,595.46 | 153,968,711.08 |
(5)Deductiblelossesofun-recognizeddeferredincometaxassetsexpiredonthefollowedyear
InRMB
| Year | Endingamount | Openingamount | Note |
| 2021 | 513,356.86 | 513,356.86 | |
| 2022 | 4,702,701.91 | 4,702,701.91 | |
| 2023 | 5,238,151.51 | 5,238,151.51 | |
| 2024 | 7,380,279.17 | 7,380,279.17 | |
| 2025 | 9,754,167.50 | 9,754,167.50 | |
| Total | 27,588,656.95 | 27,588,656.95 | -- |
31.Othernon-currentasset
InRMB
| Item | Endingbalance | Openingbalance | ||||
| Bookbalance | Provisionforimpairment | Bookvalue | Bookbalance | Provisionforimpairment | Bookvalue | |
| Advancepaymentforengineeringequipment | 51,749,228.06 | 51,749,228.06 | 49,478,268.29 | 49,478,268.29 | ||
| VATtobededucted(inputtaxonengineeringandequipment) | 6,415,199.70 | 6,415,199.70 | 6,415,199.70 | 6,415,199.70 | ||
| Other | 100,000.00 | 100,000.00 | 100,000.00 | 100,000.00 | ||
| Total | 58,264,427.76 | 58,264,427.76 | 55,993,467.99 | 55,993,467.99 | ||
32.Short-termloans
Notapplicable
33.Tradablefinancialliability
Notapplicable
34.Derivativefinancialliability
Notapplicable
35.Notepayable
Notapplicable
36.Accountpayable
(1)Accountpayable
InRMB
| Item | Endingbalance | Openingbalance |
| Purchaseofgoodsandservices | 5,548,321.22 | 5,130,983.91 |
| Engineeringequipment | 72,674,360.66 | 71,452,182.62 |
| Total | 78,222,681.88 | 76,583,166.53 |
(2)Majoraccountspayablewithageoveroneyear
InRMB
| Item | Endingbalance | Reasonsofoutstandingorcarry-over |
| ShenzhenYinglongJian’an(Group)Co.,Ltd. | 28,503,133.19 | Projectunsettled |
| ShenzhenSDGRealEstateCo.,Ltd | 6,054,855.46 | Unrepaymentfromrelatedenterprise |
| ShenzhenYinuoConstructionEngineeringCo.,Ltd. | 4,274,022.22 | Projectunsettled |
| ShenzhenRuiheBuildingDecorationCo.,Ltd. | 3,621,859.50 | Projectunsettled |
| Total | 42,453,870.37 | -- |
37.Accountsreceivedinadvance
(1)Accountsreceivedinadvance
InRMB
| Item | Endingbalance | Openingbalance |
| Rent | 1,799,359.80 | 2,403,580.47 |
| Total | 1,799,359.80 | 2,403,580.47 |
(2)Importantadvancereceiptsagedmorethan1year
Notapplicable
38.Contractualliabilities
InRMB
| Item | Endingbalance | Openingbalance |
| Advancepayment | 5,270,378.54 | 17,833,476.50 |
| Pre-collectedservicefee | 3,051,750.25 | 1,155,151.63 |
| Total | 8,322,128.79 | 18,988,628.13 |
39.Wagepayable
(1)Wagepayable
InRMB
| Item | Openingbalance | Currentincreased | Currentdecreased | Endingbalance |
| I.Short-termcompensation | 28,365,685.21 | 32,641,387.66 | 27,711,055.23 | 33,296,017.64 |
| II.After-servicewelfare-definedcontributionplans | 2,460,992.84 | 2,460,992.84 | - | |
| III.Dismissedwelfare | 243,137.00 | 243,137.00 | - | |
| IV.Otherbenefitsduewithinoneyear | ||||
| Total | 28,365,685.21 | 35,345,517.50 | 30,415,185.07 | 33,296,017.64 |
(2)Short-termcompensation
InRMB
| Item | Openingbalance | Currentincreased | Currentdecreased | Endingbalance |
| 1.Wage,bonus,allowanceandsubsidy | 28,150,871.60 | 28,273,384.82 | 23,230,501.23 | 33,193,755.19 |
| 2.Employees’welfare | 380,278.97 | 416,892.32 | -36,613.35 | |
| 3.Socialinsurancecharges | - | 1,641,626.01 | 1,641,626.01 | - |
| Including:medicalinsurancepremium | 1,509,301.62 | 1,509,301.62 | - | |
| Industrialinjuryinsurancepremiums | 17,195.20 | 17,195.20 | - | |
| Maternityinsurancepremiums | 115,129.19 | 115,129.19 | - | |
| - | - | - | ||
| 4.Housingpublicreserve | 1,756,632.02 | 1,757,055.62 | -423.60 | |
| 5.Tradeunionfeeandeducationfee | 214,813.61 | 589,465.84 | 664,980.05 | 139,299.40 |
| 6.Short-termpaidabsence | ||||
| 7.Short-termprofitsharingplan |
| Total | 28,365,685.21 | 32,641,387.66 | 27,711,055.23 | 33,296,017.64 |
(3)Definedcontributionplans
InRMB
| Item | Openingbalance | Currentincreased | Currentdecreased | Endingbalance |
| 1.Basicendowmentinsurancepremiums | 2,435,090.35 | 2,435,090.35 | ||
| 2.Unemploymentinsurancepremiums | 25,902.49 | 25,902.49 | ||
| 3.Enterpriseannuity | ||||
| Total | 2,460,992.84 | 2,460,992.84 |
40.Taxespayable
InRMB
| Item | Endingbalance | Openingbalance |
| VAT | 579,567.13 | 1,003,221.74 |
| Enterpriseincometax | 11,692,516.67 | 13,891,223.58 |
| Personalincometax | 770,240.66 | 281,053.06 |
| Urbanmaintenanceandconstructiontax | 89,508.55 | 79,176.17 |
| LandVAT | 5,362,682.64 | 5,362,682.64 |
| Housepropertytax | 1,750,236.76 | - |
| Usetaxofland | 252,008.39 | 26,459.98 |
| Educationalsurtax | 79,622.52 | 43,391.83 |
| Localeducationsurcharges | 36,674.70 | 28,927.88 |
| Othertax | -36,550.13 | 346,017.44 |
| Total | 20,576,507.89 | 21,062,154.32 |
41.Otheraccountpayable
InRMB
| Item | Endingbalance | Openingbalance |
| Interestpayable | 40,098.14 | |
| Dividendpayable | 46,295.65 | 46,295.65 |
| Otheraccountpayable | 171,168,970.30 | 158,617,678.97 |
| Total | 171,255,364.09 | 158,663,974.62 |
(1)Interestpayable
InRMB
| Item | Endingbalance | Openingbalance |
| Other | 40,098.14 | |
| Total | 40,098.14 |
(2)Dividendpayable
InRMB
| Item | Endingbalance | Openingbalance |
| Commonstockdividend | 46,295.65 | 46,295.65 |
| Total | 46,295.65 | 46,295.65 |
(3)Otheraccountpayable
1)Bynature
InRMB
| Item | Endingbalance | Openingbalance |
| Depositmargin | 38,037,143.52 | 37,603,031.07 |
| Relatedtransactions | 74,578,791.87 | 76,457,197.82 |
| Withholdingpayments | 20,132,334.81 | 15,300,654.81 |
| Payableinterimpayment | 38,420,700.10 | 29,256,795.27 |
| Total | 171,168,970.30 | 158,617,678.97 |
2)Significantotheraccountpayablewithoveroneyearage
InRMB
| Item | Endingbalance | Reasonsfornon-repaymentorcarry-over |
| ShenzhenSpecialDevelopmentGroupCo.,Ltd. | 17,416,948.94 | Relatedcompanynon-repayment |
| HongKongYujiaInvestmentCo.,Ltd. | 2,172,091.54 | Relatedcompanynon-repayment |
| Total | 19,589,040.48 | -- |
42.Liabilityheldforsale
Notapplicable
43.Non-currentliabilitiesduewithinoneyear
Notapplicable
44.Othercurrentliabilities
InRMB
| Item | Endingbalance | Openingbalance |
| Taxamounttobewrittenoff | 434,069.37 | 2,237,573.19 |
| Total | 434,069.37 | 2,237,573.19 |
45.Long-termloans
(1)Classificationoflong-termloans
InRMB
| Item | Endingbalance | Openingbalance |
| Mortgageloan | 40,886,819.43 | 11,171,759.33 |
| Total | 40,886,819.43 | 11,171,759.33 |
46.Bondspayable
Notapplicable
47.Leaseliability
Notapplicable
48.Long-termaccountpayable
InRMB
| Item | Endingbalance | Openingbalance |
| Long-termaccountpayable | 3,920,160.36 | 3,920,160.36 |
| Total | 3,920,160.36 | 3,920,160.36 |
(1)Bynature
InRMB
| Item | Endingbalance | Openingbalance |
| Depositofstaffresidence | 3,908,848.40 | 3,908,848.40 |
| Allocationfortechnologyinnovationprojects | 11,311.96 | 11,311.96 |
| Total | 3,920,160.36 | 3,920,160.36 |
(2)Specialaccountpayable
Notapplicable
49.Long-termwagepayable
Notapplicable
50.Accrualliabilities
InRMB
| Item | Endingbalance | Openingbalance | Causes |
| Pendinglitigation | 268,414.80 | 268,414.80 | |
| Total | 268,414.80 | 268,414.80 | -- |
51.Deferredincome
InRMB
| Item | Openingbalance | Currentincreased | Currentdecreased | Endingbalance | Causes |
| Governmentsubsidies | 131,102.38 | 4,590,000.00 | 48,829.79 | 4,672,272.59 | Receivegovernmentsubsidies |
| Total | 131,102.38 | 4,590,000.00 | 48,829.79 | 4,672,272.59 | -- |
Itemwithgovernmentgrantsinvolved:
InRMB
| Liability | Openingbalance | NewgrantsinthePeriod | Amountreckonedinnon-operationrevenue | Amountreckonedinotherincome | Costreductionintheperiod | Otherchanges | Endingbalance | Assetsrelated/incomerelated |
| ElevatorRenewalSubsidyFundforFutianDistrictOldElevatorRenovationWorkingGroup | 131,102.38 | 131,102.38 | Assetsrelated | |||||
| 2020ConsumptionPromotionSupportProgramSubsidyFunds | 4,590,000.00 | 48,829.79 | 4,541,170.21 | Incomerelated |
52.Othernon-currentliabilities
Notapplicable
53.Sharecapital
InRMB
| Openingbalance | Increased(decreased)inthisperiod+,- | Endingbalance | |||||
| Newsharesissued | Bonusshares | Sharesconvertedfrompublicreserve | Other | Subtotal | |||
| Totalshares | 431,058,320.00 | 431,058,320.00 | |||||
54.Otherequityinstrument
Notapplicable
55.Capitalpublicreserve
InRMB
| Item | Openingbalance | Currentincreased | Currentdecreased | Endingbalance |
| Capitalpremium(Sharecapitalpremium) | 425,768,053.35 | 425,768,053.35 | ||
| Othercapitalreserve | 5,681,501.16 | 5,681,501.16 | ||
| Total | 431,449,554.51 | 431,449,554.51 |
56.Treasurystock
Notapplicable
57.Othercomprehensiveincome
InRMB
| Item | Openingbalance | CurrentPeriod | Endingbalance | |||||
| Accountbeforeincometaxintheperiod | Less:writteninothercomprehensiveincomeinpreviousperiodandcarriedforwardtogainsandlossesincurrentperiod | Less:writteninothercomprehensiveincomeinpreviousperiodandcarriedforwardtoretainedearningsincurrentperiod | Less:incometaxexpense | Belongtoparentcompanyaftertax | Belongtominorityshareholdersaftertax | |||
| I.Othercomprehensiveincomeitemswhichwillnotbereclassifiedsubsequentlytoprofitofloss | ||||||||
| Including:Changesofthedefinedbenefitplansthatre-measured | ||||||||
| Othercomprehensiveincomeunderequitymethodthatcannotbetransfertogain/loss | ||||||||
| Changeoffairvalueof | ||||||||
| investmentinotherequityinstrument |
| Fairvaluechangeofenterprise'screditrisk |
| II.Othercomprehensiveincomeitemswhichwillbereclassifiedsubsequentlytoprofitorloss | 26,422.00 | 26,422.00 | |
| Including:Othercomprehensiveincomeunderequitymethodthatcantransfertogain/loss | 26,422.00 | 26,422.00 | |
| Changeoffairvalueofotherdebtinvestment | |||
| Amountoffinancialassetsre-classifytoothercomprehensiveincome | |||
| Creditimpairmentprovisionforotherdebtinvestment | |||
| Cashflowhedgingreserve | |||
| Translationdifferencesarisingontranslationofforeigncurrencyfinancialstatements |
| Totalothercomprehensiveincome | 26,422.00 | 26,422.00 |
58.Reasonablereserve
Notapplicable
59.Surpluspublicreserve
InRMB
| Item | Openingbalance | Currentincreased | Currentdecreased | Endingbalance |
| Statutorysurplusreserves | 23,848,485.62 | 23,848,485.62 | ||
| Total | 23,848,485.62 | 23,848,485.62 |
60.Retainedprofit
InRMB
| Item | Currentperiod | Lastperiod |
| Retainedprofitattheendofthepreviousperiodbeforeadjustment | 424,141,893.34 | 387,423,510.78 |
| AdjustthetotalRetainedprofitsatthebeginningoftheperiod(Increase+,Decrease-) | ||
| Totalretainedprofitatthebeginningofthepreviousperiodbeforeadjustment | 424,141,893.34 | 387,423,510.78 |
| Add:netprofitattributabletoshareholderof | 44,542,715.32 | 57,663,828.89 |
| parentcompany | ||
| Less:withdrawaloflegalsurplusreserve | 2,840,996.89 | |
| Withdrawofdiscretionarysurplusreserve | ||
| Withdrawofgeneralriskprovision | ||
| Commonstockdividendspayable | 8,621,166.40 | 18,104,449.44 |
| Dividendofordinarysharestransferredtosharecapital | ||
| Retainedprofitatperiod-end | 460,063,442.26 | 424,141,893.34 |
61.Operatingincomeandoperatingcost
InRMB
| Item | Currentperiod | Lastperiod | ||
| Income | Cost | Income | Cost | |
| Mainbusiness | 244,632,938.62 | 172,326,102.86 | 193,056,348.40 | 153,545,320.45 |
| Otherbusiness | 4,859,322.62 | 987,151.10 | 3,995,441.89 | 1,229,267.07 |
| Total | 249,492,261.24 | 173,313,253.96 | 197,051,790.29 | 154,774,587.52 |
Incomerelatedinformation
InRMB
| Contractclassification | Autosales | Automaintenanceandinspection | Leaseandservice | Jewelrysalesandservice | Total |
| Producttypes | |||||
| Including:Autosales | 95,643,935.09 | 95,643,935.09 | |||
| Automaintenanceandinspection | 23,157,150.81 | 23,157,150.81 | |||
| Leaseandservice | 99,013,183.37 | 99,013,183.37 | |||
| Jewelrysalesandservice | 31,677,991.97 | 31,677,991.97 | |||
| Classifiedbybusinessarea | |||||
| Including:Shenzhen | 95,643,935.09 | 23,157,150.81 | 99,013,183.37 | 31,677,991.97 | 249,492,261.24 |
| Total | 95,643,935.09 | 23,157,150.81 | 99,013,183.37 | 31,677,991.97 | 249,492,261.24 |
Informationonthetopfiveitemsofrevenuerecognizedduringthereportingperiod:
InRMB
| Serial | Item | Income |
| 1 | CustomerI | 29,242,478.00 |
| 2 | CustomerII | 4,137,114.27 |
| 3 | CustomerIII | 4,101,654.49 |
| 4 | CustomerIV | 4,055,466.04 |
| 5 | CustomerV | 2,793,716.42 |
62.Taxandsurcharges
InRMB
| Item | Currentperiod | Lastperiod |
| Urbanmaintenanceandconstructiontax | 373,364.45 | 273,827.41 |
| Educationsurcharge | 266,566.48 | 195,109.16 |
| Housepropertytax | 1,750,236.76 | 365,803.85 |
| Usetaxofland | 132,393.16 | 554,437.90 |
| Stampduty | 88,215.19 | 82,782.69 |
| Othertaxes | 3,380.00 | -95,233.44 |
| Total | 2,614,156.04 | 1,376,727.57 |
63.Salesexpenses
InRMB
| Item | Currentperiod | Lastperiod |
| Staffremuneration | 6,414,558.14 | 4,368,623.68 |
| Advertisingandexhibitionexpenses | 813,955.93 | 190,434.21 |
| Depreciationandamortization | 2,066,128.41 | 762,935.85 |
| Officeexpenses | 202,242.09 | 266,706.77 |
| Propertyandutilities | 433,397.24 | 371,102.25 |
| Transportationandbusinesstripcost | 114,255.71 | 6,650.61 |
| Insurancesupervisionfee | 476,862.25 | 31,824.74 |
| Other | 1,480,912.25 | 777,866.43 |
| Total | 12,002,312.02 | 6,776,144.54 |
64.Administrationexpenses
InRMB
| Item | Currentperiod | Lastperiod |
| Staffremuneration | 16,070,330.49 | 13,255,712.63 |
| Officeexpenses | 248,988.77 | 522,602.46 |
| Transportationandbusinesstripcost | 124,886.80 | 105,949.65 |
| Businessentertainmentexpenses | 170,483.29 | 103,117.88 |
| Depreciationandamortization | 1,614,251.84 | 989,192.76 |
| Intermediaryagencyservicefee | 1,285,160.67 | 1,270,520.91 |
| Other | 1,293,372.83 | 954,904.32 |
| Total | 20,807,474.69 | 17,202,000.61 |
65.R&Dexpenses
Notapplicable
66.Financialexpenses
InRMB
| Item | Currentperiod | Lastperiod |
| Interestexpenses | 1,747,427.56 | 46,986.20 |
| Less:Interestincome | 1,719,072.96 | 2,453,494.99 |
| Less:interestcapitalizedamount | 547,427.56 | |
| Exchangeloss | -7,790.79 | 66,918.38 |
| Other | 122,303.86 | 137,439.86 |
| Total | -404,559.89 | -2,202,150.55 |
67.Otherincome
InRMB
| Sources | Currentperiod | Lastperiod |
| Handlingfeerefundforwithholdingpersonalincometax | 4,082.49 | 36,471.10 |
| Other | 322,337.67 | 16,375.60 |
| Total | 326,420.16 | 52,846.70 |
68.Investmentincome
InRMB
| Item | Currentperiod | Lastperiod |
| Long-termequityinvestmentincomemeasuredbyequity | 9,683,638.47 | 8,521,866.84 |
| Investmentincomeofwealthmanagementproductsduringtheholdingperiod | 4,712,120.21 | 4,359,623.66 |
| Total | 14,395,758.68 | 12,881,490.50 |
69.Netexposurehedgegains
Notapplicable
70.Incomeoffairvaluechanges
InRMB
| Sources | Currentperiod | Lastperiod |
| Tradingfinancialassets | -418,952.05 | -356,102.35 |
| Total | -418,952.05 | -356,102.35 |
71.Creditimpairmentloss
InRMB
| Item | Currentperiod | Lastperiod |
| Lossofbaddebtofotheraccountreceivable | 13.87 | |
| Lossofbaddebtofotheraccountreceivable | 599,187.56 | |
| Total | 599,201.43 |
72.Assetsimpairmentloss
Notapplicable
73.Incomefromassetsdisposal
InRMB
| Sources | Currentperiod | Lastperiod |
| Incomefromdisposalofnon-currentassets | 56,242.77 | |
| Total | 56,242.77 |
74.Non-operatingincome
InRMB
| Item | Currentperiod | Lastperiod | Amountincludedinthecurrentnon-recurringprofitandloss |
| Governmentgrants | 230,000.00 | ||
| Other | 72,884.60 | 716,106.92 | 72,884.60 |
| Total | 72,884.60 | 946,106.92 | 72,884.60 |
75.Non-operatingexpenditure
InRMB
| Item | Currentperiod | Lastperiod | Amountincludedinthecurrentnon-recurringprofitandloss |
| Other | 9,945.86 | 29,059.48 | 9,945.86 |
| Total | 9,945.86 | 29,059.48 | 9,945.86 |
76.Incometaxexpense
(1)Incometaxexpense
InRMB
| Item | Currentperiod | Lastperiod |
| Currentincometaxexpenses | 11,085,413.51 | 6,407,943.06 |
| Deferredincometaxexpenses | 19,471.10 | |
| Adjustmentforpreciousperiod | 20,891.90 | |
| Total | 11,085,413.51 | 6,448,306.06 |
(2)Adjustmentprocessofaccountingprofitandincometaxexpenses
InRMB
| Item | Currentperiod |
| Totalprofit | 55,582,032.72 |
| Incometaxexpensescalculatedbystatutorytaxrate | 13,895,508.18 |
| Impactbydifferenttaxrateappliedbysubsidies | -79,147.76 |
| Impactofnontaxableincome | -2,420,909.62 |
| Unrecognizedimpactsofdeductibletemporarydifferencesordeductiblelossesondeferredincometaxassetsintheperiod | -310,037.29 |
| Incometaxexpenses | 11,085,413.51 |
77.Othercomprehensiveincome
Foundmoreinannotations
78.Annotationofcashflowstatement
(1)Cashreceivedwithotheroperatingactivitiesconcerned
InRMB
| Item | Currentperiod | Lastperiod |
| Depositmargin | 9,160,722.91 | 3,272,399.10 |
| Interestincome | 1,719,072.96 | 1,643,158.09 |
| Intercoursefundsandother | 62,509,088.41 | 33,302,872.31 |
| Total | 73,388,884.28 | 38,218,429.50 |
(2)Cashpaidwithotheroperatingactivitiesconcerned
InRMB
| Item | Currentperiod | Lastperiod |
| Cashpaid | 28,551,813.16 | 18,510,703.27 |
| Depositmargin | 6,501,628.21 | 734,563.26 |
| Intercoursefundsandother | 42,275,584.65 | 29,438,222.21 |
| Total | 77,329,026.02 | 48,683,488.74 |
79.Supplementaryinformationtostatementofcashflow
(1)Supplementaryinformationtostatementofcashflow
InRMB
| Supplementaryinformation | Currentperiod | Lastperiod |
| 1.Netprofitadjustedtocashflowofoperationactivities: | -- | -- |
| Netprofit | 44,496,619.21 | 26,770,658.26 |
| Add:Impairmentprovisionforassets | -599,201.43 | |
| Depreciationoffixedassets,consumptionofoilassetsanddepreciationofproductivebiologyassets | 15,293,526.20 | 11,167,637.52 |
| Depreciationofright-of-useassets | ||
| Amortizationofintangibleassets | 716,715.48 | 638,732.46 |
| Amortizationoflong-termpendingexpenses | 2,080,287.58 | 764,042.88 |
| Lossfromdisposaloffixedassets,intangibleassetsandotherlong-termassets(incomeislistedwith“-”) | -56,242.77 | |
| Lossesonscrappingoffixedassets(incomeislistedwith“-“) | - | 23,933.75 |
| Lossfromchangeoffairvalue(incomeislistedwith“-“) | 418,952.05 | 356,102.35 |
| Financialexpenses(incomeislistedwith“-”) | 1,200,000.00 | 46,986.20 |
| Investmentloss(incomeislistedwith“-”) | -14,395,758.68 | -12,881,490.50 |
| Decreaseofdeferredincometaxassets(increaseislistedwith“-”) | 19,471.10 | 19,471.10 |
| Increaseofdeferredincometaxassets(decreaseislistedwith“-”) | ||
| Decreaseofinventory(increaseislistedwith“-”) | 9,297,128.79 | 6,275,613.37 |
| Decreaseofoperatingreceivableaccounts(increaseislistedwith“-”) | -7,192,322.29 | 48,012,932.94 |
| Increaseofoperatingpayableaccounts(decreaseislistedwith“-”) | 7,693,022.35 | -63,289,096.70 |
| Other | ||
| Netcashflowarisingfromoperatingactivities | 59,571,399.02 | 17,306,322.20 |
| 2.Materialinvestmentandfinancingnotinvolvedincashflow | -- | -- |
| Conversionofdebtintocapital | ||
| SwitchingCompanybondsduewithinoneyear | ||
| financingleaseoffixedassets |
| 3.Netchangeofcashandcashequivalents: | -- | -- |
| Balanceofcashatperiodend | 358,059,693.02 | 304,937,895.62 |
| Less:Balanceofcashequivalentatperiod-begin | 208,462,656.63 | 400,668,257.81 |
| Add:Balanceatperiod-endofcashequivalents | ||
| Less:Balanceatperiod-beginofcashequivalents | ||
| Netincreaseofcashandcashequivalents | 149,597,036.39 | -95,730,362.19 |
(2)NetcashpaidforobtainingsubsidiaryinthePeriod
Notapplicable
(3)NetcashreceivedbydisposingsubsidiaryinthePeriodNotapplicable
(4)Constitutionofcashandcashequivalent
InRMB
| Item | Endingbalance | Openingbalance |
| I.Cash | 358,059,693.02 | 208,462,656.63 |
| Including:Cashonhand | 9,536.20 | 20,542.55 |
| Bankdepositavailableforpaymentatanytime | 358,050,156.82 | 208,442,114.08 |
| III.Balanceofcashandcashequivalentatperiod-end | 358,059,693.02 | 208,462,656.63 |
80.Notesofchangesofowners’equity
Notapplicable
81.Assetswithownershiporuserightrestricted
InRMB
| Item | Endingbookvalue | Reasonsforrestriction |
| Monetaryfund | 29,646,654.29 | UpgradingprojectoftheTellus-GmanGold&JewelryIndustrialPark-supervisionfundsforthe03#land |
| Intangibleassets | 48,854,178.50 | Bankloanmortgage |
| Total | 78,500,832.79 | -- |
82.Foreigncurrencymonetary
(1)Foreigncurrencymonetary
InRMB
| Item | Endingforeigncurrencybalance | Convertrate | EndingRMBbalanceconverted |
| Monetaryfunds | -- | -- | 8,684,970.31 |
| Including:USD | 1,342,859.53 | 6.4639 | 8,680,043.47 |
| EURO | |||
| HKD | 5921.6834 | 0.832 | 4,926.84 |
| Accountreceivable | -- | -- |
| Including:USD | ||
| EURO | ||
| HKD |
| Long-termloans | -- | -- |
| Including:USD | ||
| EURO | ||
| HKD |
Otherexplanation:
(2)Explanationonforeignoperationalentity,includingasforthemajorforeignoperationalentity,disclosedmainoperationplace,book-keepingcurrencyandbasisforselection;ifthebook-keepingcurrencychanged,explainreasons
□Notapplicable
83.Hedging
Notapplicable
84.Governmentgrants
(1)Governmentgrants
InRMB
| Category | Amount | Item | Amountreckonedintocurrentgains/losses |
| ElevatorRenewalSubsidyFundforFutianDistrictOldElevatorRenovationWorkingGroup | 131,102.38 | Deferredincome | |
| 2020ConsumptionPromotionSupportProgramSubsidyFunds | 4,541,170.21 | Deferredincome | 48,829.79 |
(2)Governmentgrantsrebate
□Applicable√Notapplicable
85.Other
VIII.Changesofconsolidationrange
1.Enterprisecombinenotunderthesamecontrol
Notapplicable
2.Enterprisecombineunderthesamecontrol
Notapplicable
3.Reversepurchase
Notapplicable
4.Disposalofsubsidiaries
Whetherthereisasingledisposalofaninvestmentinasubsidiarythatresultedinalossofcontrol
□Yes√NoWhetherthereisastep-by-stepdisposalofinvestmentinasubsidiarythroughmultipletransactionsandlossofcontrolduringtheperiod
□Yes√No
5.Otherreasonsforconsolidationrangechanged
Duringthereportingperiod,theliquidationoftheholdingsubsidiariesAnhuiTellusStarlightJewelryInvestmentCo.,Ltd.andAnhuiTellusStarlightJinzunJewelryCo.,Ltd.wascompleted.Duringthereportingperiod,anewlyestablishedsubsidiary,ShanghaiFanyueDiamondCo.,Ltd.,completedindustrialandcommercialregistrationandobtainedabusinesslicenseonJune29,2021,witharegisteredcapitalof3.5millionyuan.AsofJune30,2021,thecapitalinjectionhasnotbeencompleted.IX.Equityinotherentity
1.Equityinsubsidiary
(1)Constituteofenterprisegroup
| Subsidiary | Mainoperationplace | Registeredplace | Businessnature | Share-holdingratio | Acquiredway | |
| Directly | Indirectly | |||||
| ShenzhenTellusXinyongtongAutomobileDevelopmentCo.Ltd | Shenzhen | Shenzhen | Commerce | 100.00% | Establishment | |
| ShenzhenBao’anShiquanIndustrialCo.,Ltd. | Shenzhen | Shenzhen | Commerce | 100.00% | Establishment | |
| ShenzhenSDGTellusRealEstateCo.,Ltd. | Shenzhen | Shenzhen | Manufacture | 100.00% | Establishment | |
| ShenzhenTellusChuangyingTech.Co.,Ltd. | Shenzhen | Shenzhen | Commerce | 100.00% | Establishment | |
| ShenzhenXinyongtongAutoVehicleInspectionEquipmentCo.,Ltd. | Shenzhen | Shenzhen | Commerce | 51.00% | Establishment | |
| ShenzhenAutoIndustryandTradeCorporation | Shenzhen | Shenzhen | Commerce | 100.00% | Establishment | |
| ShenzhenAutomotiveIndustrySupplyCorporation | Shenzhen | Shenzhen | Commerce | 100.00% | Establishment | |
| ShenzhenSDG | Shenzhen | Shenzhen | Commerce | 60.00% | Establishment | |
| HuariAutoEnterpriseCo.,Ltd. | ||||||
| ShenzhenHuariAnxinAutomobileInspectionLtd. | Shenzhen | Shenzhen | Commerce | 100.00% | Establishment | |
| ShenzhenZhongtianIndustrialCo,.Ltd. | Shenzhen | Shenzhen | Commerce | 100.00% | Establishment | |
| ShenzhenHuariTOYOTAAutomobileSalesServiceCo.,Ltd. | Shenzhen | Shenzhen | Commerce | 60.00% | Establishment | |
| SichuanTellusJewelryTech.Co.,Ltd. | Chengdu | Chengdu | Commerce | 66.67% | Establishment | |
| ShenzhenTellusTreasureSupplyChainTech.Co.,Ltd. | Shenzhen | Shenzhen | Commerce | 100.00% | Establishment | |
| ShenzhenJewelryIndustryServiceCo.,LTD | Shenzhen | Shenzhen | Commerce | 65.00% | Establishment | |
| ShanghaiFanyueDiamondCo.,Ltd. | Shanghai | Shanghai | Commerce | 100% | Establishment |
SichuanTellusJewelryTech.Co.,Ltd.iscurrentlyintheliquidationstage.
(2)Importantnon-wholly-ownedsubsidiary
InRMB
| Subsidiary | Share-holdingratioofminority | Gains/lossesattributabletominorityinthePeriod | DividendannouncedtodistributeforminorityinthePeriod | Endingequityofminority |
| ShenzhenHuariToyotaAutoSalesCo.,Ltd | 40.00% | -438,775.60 | 3,669,231.39 | |
| ShenzhenSDGHuariAutoEnterpriseCo.,Ltd. | 40.00% | 753,045.12 | 11,708,020.08 |
(3)Mainfinanceoftheimportantnon-wholly-ownedsubsidiary
InRMB
| Subsidiary | Endingbalance | Openingbalance | ||||||||||
| Currentassets | Non-current | Totalassets | Currentliabilities | Non-current | Totalliabilities | Currentassets | Non-current | Totalassets | Currentliabilities | Non-current | Totalliabilities | |
| assets | liabilities | assets | liabilities | |||||||||
| ShenzhenHuariToyotaAutoSalesCo.,Ltd | 60,835,187.17 | 6,629,773.21 | 67,464,960.38 | 58,291,881.91 | 58,291,881.91 | 67,507,256.67 | 6,694,509.17 | 74,201,765.84 | 63,931,748.36 | 63,931,748.36 | ||
| ShenzhenSDGHuariAutoEnterpriseCo.,Ltd. | 62,981,681.49 | 21,214,816.41 | 84,196,497.90 | 54,776,447.71 | 54,776,447.71 | 52,641,986.30 | 22,198,318.35 | 74,840,304.65 | 47,302,867.25 | 47,302,867.25 |
InRMB
| Subsidiary | Currentperiod | Lastperiod | ||||||
| Operatingincome | Netprofit | Totalcomprehensiveincome | Cashflowfromoperationactivity | Operatingincome | Netprofit | Totalcomprehensiveincome | Cashflowfromoperationactivity | |
| ShenzhenHuariToyotaAutoSalesCo.,Ltd | 120,908,660.87 | -1,096,939.01 | -1,096,939.01 | -1,066,151.60 | 119,178,692.47 | -3,930.02 | -3,930.02 | 1,564,040.84 |
| ShenzhenSDGHuariAutoEnterpriseCo.,Ltd. | 18,429,177.57 | 1,882,612.79 | 1,882,612.79 | 68,643.14 | 16,003,589.01 | 549,866.95 | 549,866.95 | -4,077,786.01 |
(4)SignificantrestrictionsontheuseofenterprisegroupassetsandpayoffdebtsoftheenterprisegroupNil
(5)Financialorothersupportingofferstothestructuredentityincludedinconsolidatedfinancialstatementrange
Nil
2.Transactionthathasownersequityshareschangedinsubsidiarybutstillwithcontrollingrights
Nil
3.Equityinjointventureandassociatedenterprise
(1)Importantjointventureorassociatedenterprise
| JointventureorAssociatedenterprise | Mainoperationplace | Registeredplace | Businessnature | Share-holdingratio | Accountingtreatmentoninvestmentforjointventureandassociatedenterprise | |
| Directly | Indirectly | |||||
| ShenzhenTellusGmanInvestmentCo.,Ltd | Shenzhen | Shenzhen | Investmentandestablishmentofindustries | 50.00% | Equitymethodaccounting | |
| ShenzhenZungFuTellusAutoServiceCo.,Ltd. | Shenzhen | Shenzhen | SalesofBenz | 35.00% | Equitymethodaccounting | |
| ShenzhenDongfengMotorCo.,Ltd. | Shenzhen | Shenzhen | Automanufactureandmaintain | 25.00% | Equitymethodaccounting |
(2)Mainfinancialinformationoftheimportantjointventure
InRMB
| Endingbalance/Currentperiod | Openingbalance/Lastperiod | |
| ShenzhenTellusGmanInvestmentCo.,Ltd | ShenzhenTellusGmanInvestmentCo.,Ltd | |
| Currentassets | 46,270,805.12 | 37,797,029.81 |
| Including:Cashandcashequivalent | 36,205,315.04 | 34,281,101.96 |
| Noncurrentassets | 357,302,453.86 | 360,906,421.80 |
| TotalAssets | 403,573,258.98 | 398,703,451.61 |
| Currentliabilities | 32,649,441.22 | 27,947,969.41 |
| Noncurrentliabilities | 286,344,000.00 | 295,422,000.00 |
| Totalliabilities | 318,993,441.22 | 323,369,969.41 |
| Minorityinterests | ||
| Shareholders'equityattributabletotheparentcompany | 84,579,817.76 | 75,333,482.20 |
| Shareofnetassetscalculatedbyshareholdingratio | 42,289,908.88 | 37,666,741.10 |
| Adjustmentmatters | ||
| --Goodwill | ||
| —Unrealizedprofitofinternaltrading | ||
| --Others | ||
| Bookvalueofequityinvestmentinjointventures | 42,289,908.88 | 37,666,741.10 |
| Fairvalueoftheequityinvestmentofjointventurewithpublicoffersconcerned | ||
| Businessincome | 42,642,620.11 | 6,840,207.33 |
| Financialexpenses | 7,886,096.17 | 2,693,091.50 |
| Incometaxexpenses | 3,082,111.84 | 8,079,274.57 |
| Netprofit | 9,246,335.50 | 8,079,274.57 |
| Netprofitoftheterminationofoperation | ||
| Othercomprehensiveincome |
| Totalcomprehensiveincome | 9,246,335.50 | 8,079,274.57 |
(3)Mainfinancialinformationoftheimportantassociatedenterprise
InRMB
| Endingbalance/Currentperiod | Openingbalance/Lastperiod | |||
| ShenzhenZungFuTellusAutoServiceCo.,Ltd. | ShenzhenDongfengMotorCo.,Ltd. | ShenzhenZungFuTellusAutoServiceCo.,Ltd. | ShenzhenDongfengMotorCo.,Ltd. | |
| Currentassets | 201,916,166.19 | 339,417,321.97 | 214,297,861.00 | 378,483,991.85 |
| Noncurrentassets | 35,188,951.04 | 169,934,989.83 | 23,368,404.54 | 172,244,888.77 |
| TotalAssets | 237,105,117.23 | 509,352,311.80 | 237,666,265.54 | 550,728,880.62 |
| Currentliabilities | 104,915,154.85 | 308,042,380.41 | 141,645,848.00 | 344,958,726.39 |
| Noncurrentliabilities | 14,598,723.35 | 62,303,663.43 | 0 | 65,583,477.43 |
| Totalliabilities | 119,513,878.20 | 370,346,043.84 | 141,645,848.00 | 410,542,203.82 |
| Minorityinterests | -5,103,965.10 | -14,510,815.59 | ||
| Shareholders'equityattributabletotheparentcompany | 117,591,239.03 | 144,110,233.06 | 96,020,417.54 | 154,697,492.39 |
| Shareofnetassetscalculatedbyshareholdingratio | 41,156,933.66 | 36,027,558.27 | 33,607,146.14 | 38,674,373.09 |
| Adjustmentmatters | ||||
| --Goodwill | ||||
| —Unrealizedprofitofinternaltrading | ||||
| --Other | ||||
| Bookvalueofequityinvestmentinassociatedenterprise | 41,156,933.66 | 36,027,558.27 | 33,607,146.14 | 38,674,373.09 |
| Fairvalueoftheequityinvestmentofassociatedenterprisewithpublicoffersconcerned | ||||
| Businessincome | 638,056,465.79 | 140,302,873.97 | 542,501,386.62 | 154,117,515.10 |
| Netprofit | 21,570,821.49 | -11,541,030.10 | 12,502,889.67 | -345,684.65 |
| Netprofitoftheterminationofoperation | ||||
| Othercomprehensiveincome | ||||
| Totalcomprehensiveincome | 21,570,821.49 | -11,541,030.10 | 12,502,889.67 | -345,684.65 |
(4)Financialsummaryfornon-importantJointventureandassociatedenterprise
InRMB
| Endingbalance/Currentperiod | Openingbalance/Lastperiod | |
| Jointventure: | -- | -- |
| Totalbookvalueofinvestment | 13,058,625.03 | 12,697,424.88 |
| Amountbasedonshare-holdingratio | -- | -- |
| --Netprofit | 708,235.59 | 588,819.14 |
| --Othercomprehensiveincome | ||
| --Totalcomprehensiveincome | 708,235.59 | 588,819.14 |
| Associatedenterprise: | -- | -- |
| Totalbookvalueofinvestment | 791,568.21 | 995,270.33 |
| Amountbasedonshare-holdingratio | -- | -- |
| --Netprofit | -565,839.22 | -959,266.17 |
| --Othercomprehensiveincome | ||
| --Totalcomprehensiveincome | -565,839.22 | -959,266.17 |
Otherexplanation:
1.Notimportantjointventure:ShenzhenTellusHangInvestmentCo.,Ltd.
2.Notimportantassociatedenterprise:ShenzhenAutomobileIndustryImportandExportCo.,Ltd.
(5)MajorlimitationoncapitaltransferabilitytotheCompanyfromjointventureorassociatedenterprise
Nil
(6)Excesslossoccurredinjointventureorassociatedenterprise
InRMB
| Jointventure/Associatedenterprise | Cumulativeun-recognizedlosses | Un-recognizedlossesnotrecognizedinthePeriod(ornetprofitenjoyedinthePeriod) | Cumulativeun-recognizedlossesatperiod-end |
| ShenzhenYongtongXindaInspectionEquipmentCo.,Ltd. | 1,176,212.73 | 378,447.10 | 1,554,659.83 |
| ShenzhenTellusAutomobileServiceChainCo.,Ltd. | 98,865.26 | 98,865.26 |
(7)Unconfirmedcommitmentwithjointventureinvestmentconcerned
Nil
(8)IntangibleliabilitywithjointventureoraffiliatesinvestmentconcernedNil
4.Majorconductjointoperation
Nil
5.Structuredbodyexcludinginconsolidatefinancialstatement
Nil
6.Other
X.Riskrelatedwithfinancialinstrument
TheCompany'srisksrelatedtofinancialinstrumentsoriginatefromvariousfinancialassetsandfinancialliabilitiesrecognizedbytheCompanyinthecourseofoperation,includingcreditrisk,liquidityriskandmarketrisk.
ThemanagementoftheCompanyisresponsibleforthemanagementobjectivesandpoliciesofvariousrisksrelatedtofinancialinstrumentsoftheCompany.Operatingmanagementisresponsiblefordailyriskmanagementthroughfunctionaldepartments(e.g.,thecreditmanagementdepartmentoftheCompanychecksthecreditsalesofthecompanyonacase-by-casebasis).TheinternalauditdepartmentoftheCompanyconductsdailysupervisionovertheimplementationofthecompany'sriskmanagementpoliciesandproceduresandreportsrelevantfindingstotheauditcommitteeoftheCompanyinatimelymanner.TheoverallgoaloftheCompany'sriskmanagementistoformulateriskmanagementpoliciesthatmayminimizetherisksassociatedwithvariousfinancialinstrumentswithoutundulyaffectingthecompany'scompetitivenessandresilience.
1.CreditriskCreditriskistheriskthatonepartyofafinancialinstrumentfailstofulfillitsobligations,resultinginafinanciallosstotheotherparty.ThecreditriskoftheCompanyismainlygeneratedfrommonetaryfunds,accountsreceivable,otherreceivablesandlong-termreceivables,etc.Thecreditriskofthesefinancialassetsisderivedfromthedefaultofthecounterparty,andthemaximumriskexposureisequaltothebookamountoftheseinstruments.TheCompany'smonetaryfundsaremainlydepositedincommercialbanksandotherfinancialinstitutions.TheCompanybelievesthatthesecommercialbankshavehighcreditandassetstatusandlowcreditrisk.Forreceivables,otherreceivablesandlong-termreceivables,theCompanyestablishesrelevantpoliciestocontrolcreditriskexposure.TheCompanyevaluatescustomers'creditqualificationsandsetsupcorrespondingcreditperiodsbasedontheirfinancialstatus,thepossibilityofobtainingguaranteesfromthirdparties,credithistoryandotherfactorssuchascurrentmarketconditions.TheCompanyregularlymonitorsthecreditrecordsofcustomers.Forcustomerswithpoorcreditrecords,theCompanywilladoptwrittenpaymentreminders,shorteningorcancellationsofcreditperiods,etc.,toensurethattheCompany'soverallcreditriskiswithinacontrollablerange.
(1)JudgmentcriteriaforasignificantincreaseincreditriskOneachbalancesheetdate,theCompanyevaluateswhetherthecreditriskoftherelevantfinancialinstrumenthasincreasedsignificantlysincetheinitialrecognition.Indeterminingwhetherthecreditriskhasincreasedsignificantlysincetheinitialrecognition,theCompanyconsidersthereasonableandevidence-basedinformationthatcanbeobtainedwithoutunnecessaryadditionalcostoreffort,includingqualitativeandquantitativeanalysisbasedontheCompany'shistoricaldata,externalcreditriskratingsandforward-lookinginformation.Onthebasisofasinglefinancialinstrumentoraportfoliooffinancialinstrumentswithsimilarcreditriskcharacteristics,theCompanydeterminesthechangeofthedefaultriskduringtheexpecteddurationofthefinancialinstrumentbycomparingtheriskofdefaultofthefinancialinstrumentonthebalancesheetdatewiththeriskofdefaultontheinitialrecognitiondate.Whenoneormoreofthefollowingquantitativeorqualitativecriteriaaretriggered,theCompanyconsidersthat
thecreditriskofthefinancialinstrumenthassignificantlyincreased.Thequantitativecriteriamainlymeanthattheprobabilityofdefaultoftheremainingdurationonthereportingdateincreasesoveracertainpercentagecomparedwiththeinitialrecognition.Thequalitativecriteriaarethesignificantadversechangesinmajordebtor'sbusinessorfinancialsituation,thelistofearlywarningcustomers,etc.
(2)DefinitionofassetswithcreditimpairmentInordertodeterminewhethercreditimpairmenthasoccurred,theCompanyadoptsthedefinitioncriteriaconsistentwiththeinternalcreditriskmanagementobjectivesforrelevantfinancialinstruments,andconsidersbothquantitativeandqualitativeindicators.Whenassessingwhetherthedebtorhassufferedcreditimpairment,theCompanymainlyconsidersthefollowingfactors:majorfinancialdifficultiesoftheissuerorthedebtor;thedebtorbreachesthecontract,suchasthedefaultoroverduepaymentofinterestorprincipal;thecreditor,foreconomicorcontractualreasonsrelatingtothedebtor'sfinancialdifficulties,givesthedebtorconcessionsthatitwouldnothavegiveninanyothercircumstances;thedebtorislikelytogobankruptorundergootherfinancialrestructuring;thefinancialdifficultiesoftheissuerordebtorleadtothedisappearanceoftheactivemarketforthefinancialasset;purchaseororiginationofafinancialassetatasubstantialdiscountreflectsthefactthatacreditlosshasoccurred.Thecreditimpairmentoffinancialassetsmaybecausedbythejointactionofseveralevents,butisnotnecessarilybyseparatelyidentifiableevents.
(3)ParametersofexpectedcreditlossmeasurementDependingonwhetherthecreditriskhassignificantlyincreasedandwhetherthecreditimpairmenthasoccurred,theCompanymeasurestheimpairmentreservefordifferentassetsattheexpectedcreditlossof12monthsortheentiredurationrespectively.Thekeyparametersofexpectedcreditlossmeasurementincludeprobabilityofdefault,lossgivendefaultandexposureatdefault.TheCompanyestablishestheprobabilityofdefault,lossgivendefaultandexposureatdefaultmodelbytakingintoaccountthequantitativeanalysisandforward-lookinginformationofhistoricalstatisticaldata(suchascounterpartyrating,guaranteemethodandcollateraltype,repaymentmode,etc.).Theprobabilityofdefaultistheprobabilitythatthedebtorwillnotbeabletomeetitsreimbursementobligationsinthenext12monthsorintheentireduration.LossgivendefaultreferstotheCompany'sexpectationtotheextentoflosscausedbyexposureatdefault.Thelossgivendefaultalsovariesdependingonthetypeofthecounterparty,thetypeandpriorityoftheclaim,andthecollateral.Thelossgivendefaultisthepercentageoftheriskexposurelosswhenthedefaultoccurs,whichiscalculatedonthebasisofthenext12monthsortheentireduration;
ExposureatdefaultistheamountpayablebytheCompanyatthetimeoftheoccurrenceofdefaultoverthenext12monthsorovertheentireremainingduration.Boththeassessmentofasignificantincreaseincreditriskandthecalculationofexpectedcreditlossesinvolvetheforward-lookinginformation.Throughhistoricaldataanalysis,theCompanyidentifiesthekeyeconomicindicatorsthataffectthecreditriskandexpectedcreditlossofeachbusinesstype.ThemaximumcreditriskexposureoftheCompanyisthecarryingamountofeachfinancialassetonthebalancesheet.TheCompanydoesnotprovideanyotherguaranteewhichmayexposetheCompanytocreditrisk.
2.LiquidityriskLiquidityriskreferstotheriskofcapitalshortagewhenanenterpriseperformsitsobligationsofsettlementintheformofcashpaymentorotherfinancialassets.TheCompanyisresponsiblefortheoverallcashmanagementofthecompany'ssubsidiaries,includingshort-terminvestmentofsurpluscashandfinancingofloanstomeetprojectedcashneeds.ItistheCompany'spolicytoregularlymonitorshort-andlong-termworkingcapitalrequirementsandcompliancewithborrowingagreementstoensureadequatecashreservesandmarketablesecuritiesreadilyavailableforcashforcashatanytime.
AsofJune30,2021,thematurityperiodsofthecompany'sfinancialliabilitiesareasfollows:
| Item | June30,2021 | |||
| Within1year | 1-2years | 2-3years | Over3years | |
| Accountspayable | 78,222,681.88 | |||
| Otherpayable | 171,168,970.30 | |||
| Longtermloan | 40,886,819.43 | |||
| Long-termpayable | 3,920,160.36 | |||
| Total | 290,278,471.61 | - | - | 3,920,160.36 |
3.Marketrisk
(1)ForeignexchangeriskTheexchangerateriskoftheCompanymainlyderivesfromtheforeigncurrencyassetsandliabilitiesheldbytheCompanyanditssubsidiariesthatarenotdenominatedintheirstandardcurrencyforaccounting.TheCompanyoperatesinmainlandChinaanditsmainactivitiesaredenominatedinRMB.Therefore,theCompany'sexposuretotheforeignexchangemarketisnotmaterial.Onthebalancesheetdate,theCompany'sforeigncurrencymonetaryassetsandliabilitiesaredescribedinNoteV52tothefinancialstatements.
(2)Interestraterisk
TheCompany'sinterestrateriskismainlygeneratedfromlong-termbankborrowing.FinancialliabilitieswithfloatingrateexposetheCompanytocashflowinterestraterisk,whilefinancialliabilitieswithfixedrateexposetheCompanytofairvalueinterestraterisk.TheCompanydeterminestherelativeratiooffixedandfloatingratecontractsbasedonprevailingmarketconditions.ThefinancedepartmentoftheCompanyheadquarterscontinuouslymonitorstheinterestrateoftheGroup.Anincreaseininterestrateswillincreasethecostofadditionalinterest-bearingdebtandtheinterestexpenseoftheCompany'soutstandinginterest-bearingdebtwithfloatinginterestrateandwillhaveamaterialadverseimpactontheCompany'sfinancialresults,themanagementwillmaketimelyadjustmentsbasedonthelatestmarketconditions.XI.Disclosureoffairvalue
1.Endingfairvalueoftheassetsandliabilitiesmeasuredbyfairvalue
InRMB
| Item | Endingfairvalue | |||
| First-order | Second-order | Third-order | Total | |
| I.Sustainingmeasuredbyfairvalue | -- | -- | -- | -- |
| (I)Transactionfinancialasset | 211,374,917.81 | 211,374,917.81 | ||
| 1.Financialassetsmeasuredatfairvalueandwhosechangesareincludedincurrentprofitorloss | 211,374,917.81 | 211,374,917.81 | ||
| (III)Otherequityinstrumentinvestment | 10,176,617.20 | 10,176,617.20 | ||
| II.Non-persistentmeasure | -- | -- | -- | -- |
2.Recognizedbasisforthemarketpricesustainingandnon-persistentmeasuredbyfairvalueonfirst-order
3.Thequalitativeandquantitativeinformationforthevaluationtechniqueandcriticalparameterthatsustainingandnon-persistentmeasuredbyfairvalueonsecond-order
4.Thequalitativeandquantitativeinformationforthevaluationtechniqueandcriticalparameterthatsustainingandnon-persistentmeasuredbyfairvalueonthird-order
5.Continuousthird-levelfairvaluemeasurementitems,adjustmentinformationbetweentheopeningandclosingbookvalueandsensitivityanalysisofunobservableparameters
6.Continuousfairvaluemeasurementitems,ifthereisaconversionbetweenvariouslevelsinthecurrentperiod,thereasonsfortheconversionandthepolicyfordeterminingthetimingoftheconversion
7.Changesinvaluationtechnologyduringthecurrentperiodandreasonsforthechanges
8.Thefairvalueoffinancialassetsandfinancialliabilitiesnotmeasuredbyfairvalue
XII.Relatedpartyandrelatedtransactions
1.Parentcompany
| Parentcompany | Registrationplace | Businessnature | Registeredcapital | RatioofshareholdingontheCompany | RatioofvotingrightontheCompany |
| ShenzhenSDGCo.,Ltd. | Shenzhen | Developmentandoperationofrealestateanddomesticcommerce | 3582.82millionYuan | 49.09% | 49.09% |
ExplanationonparentcompanyoftheenterpriseShenzhenSDGCo.,Ltd.isinvestedbytheState-ownedAssetsSupervisionandAdministrationCommissionofShenzhenMunicipalPeople'sGovernmentandwasestablishedonAugust1,1981.Thecompanynowholdsabusinesslicensewithaunifiedsocialcreditcodeof91440300192194195Candaregisteredcapitalof3582.82millionyuan.UltimatecontrolleroftheCompanyisShenzhenMunicipalPeople’sGovernmentState-OwnedAssetsSupervisionandAdministrationCommission.
2.Subsidiary
SubsidiaryoftheCompanyfoundmoreinNoteIX
3.Jointventureandassociatedenterprise
JointVentureoftheCompanyfoundmoreinNoteIXOthercooperativeenterpriseandjointventurethathaverelatedtransactionwiththeCompanyinthePeriodoroccurredinpreviousperiod:
| Jointventure/Associatedenterprise | Relationship |
| ShenzhenXinyongtongAutoServiceCo.,Ltd. | Associatedcompany |
| ShenzhenTellusXinyongtongAutoServiceCo.,Ltd. | Associatedcompany |
| ShenzhenTellusAutomobileServiceChainCo.,Ltd. | Associatedcompany |
| ShenzhenYongtongXindaInspectionEquipmentCo.,Ltd. | Associatedcompany |
| ShenzhenXiandaoNewMaterialCo.,Ltd. | Associatedcompany |
| ShenzhenTellusHangInvestmentCo.,Ltd. | Jointventure |
4.Otherrelatedparty
| Otherrelatedparty | RelationshipwiththeEnterprise |
| ShenzhenSDPettyLoanCo.,Ltd. | Holdingsubsidiaryoftheparentcompany |
| ShenzhenSDGSwanIndustrialCo.,Ltd. | Holdingsubsidiaryoftheparentcompany |
| ShenzhenMachineryEquipmentImp&Exp.Company | Holdingsubsidiaryoftheparentcompany |
| ShenzhenSDGRealEstateCo.,Ltd | Holdingsubsidiaryoftheparentcompany |
| HongKongYujiaInvestmentCo,Ltd. | Holdingsubsidiaryoftheparentcompany |
| ShenzhenSDGEngineeringManagementCo.,Ltd. | Holdingsubsidiaryoftheparentcompany |
| ShenzhenTellusYangchunRealEstateCo.,Ltd. | Holdingsubsidiaryoftheparentcompany |
| ShenzhenLonggangTellusRealEstateCo.,Ltd. | Holdingsubsidiaryoftheparentcompany |
| ShenzhenSDGTellusPropertyManagementCo.,Ltd. | Holdingsubsidiaryoftheparentcompany |
| ShenzhenSDGServiceCo.,Ltd.JewelryParkBranch | Holdingsubsidiaryoftheparentcompany |
5.Relatedtransaction
(1)Goodspurchasing,laborserviceprovidingandreceiving
Goodspurchasing/laborservicereceiving
InRMB
| Relatedparty | Relatedtransactioncontent | CurrentPeriod | Approvedtransactionlimit | Whethermorethanthetransactionlimit(Y/N) | LastPeriod |
| ShenzhenSDGEngineeringManagementCo.,Ltd. | Acceptlabor | 518,499.99 | 43 | Y | 637,620.00 |
| ShenzhenSDGTellusPropertyManagementCo.,Ltd. | Acceptlabor | 7,668,080.71 | 1,570 | N | 7,001,541.81 |
| ShenzhenSDGServiceCo.,Ltd.JewelryParkBranch | Acceptlabor | 412,752.47 | 36 | Y | 199,490.25 |
Goodssold/laborserviceproviding
InRMB
| Relatedparty | Relatedtransactioncontent | CurrentPeriod | LastPeriod |
| ShenzhenSDGPettyLoanCo.,Ltd. | Providingservices | 80,602.62 | 93,615.92 |
| ShenzhenSDGTellusPropertyManagementCo.,Ltd. | Providingservices | 36,701.08 |
(2)Relatedtrusteeshipmanagement/contract&entrustmanagement/outsourcing
Nil
(3)RelatedleaseAsalessorfortheCompany:
InRMB
| Lessee | Assetstype | Leaseincomeinrecognizedin | Leaseincomeinrecognizedlast |
| thePeriod | thePeriod | ||
| ShenzhenZungFuTellusAutoServiceCo.,Ltd. | Houselease | 2,595,238.12 | 1,694,444.45 |
| ShenzhenXinyongtongAutoServiceCo.,Ltd. | Houselease | 404,910.00 | 231,379.05 |
| ShenzhenXinyongtongDongxiaoAutoServiceCo.,Ltd. | Houselease | 297,000.00 | 169,714.29 |
| ShenzhenSDPettyLoanCo.,Ltd. | Houselease | 495,064.92 | 620,733.12 |
| ShenzhenSDGTellusPropertyManagementCo.,Ltd. | Houselease | 23,041.90 | 25,402.04 |
| ShenzhenSDGServiceCo.,Ltd.JewelryParkBranch | Houselease | 542,136.57 | 897,970.47 |
| Subtotal | 4,357,391.51 | 3,639,643.42 |
Aslessee:
Nil
(4)Relatedguarantee
Asguarantor
InRMB
| Securedparty | Guaranteeamount | Guaranteestartdate | Guaranteeexpirydate | Whethertheguaranteehasbeenfulfilled |
| ShenzhenZungFuTellusAutoServiceCo.,Ltd. | 3,500,000.00 | April17,2007 | Untiltheexpirydateofthejointventurecontract | No |
Explanationonrelatedguarantee:
TheCompanysigneda"PledgeContract"withZungFuAutomobileManagement(Shenzhen)Co.,Ltd.(hereinafterreferredtoas"ZungFuShenzhen"),whichagreedthatduringtheperiodfromtheestablishmentofShenzhenZungFuTellusAutoServiceCo.,Ltd.(hereinafterreferredtoas"ZungFuTellus"),ajointventureoftheCompany,totheexpirationofthecontractperiodbetweentheCompanyandZungFuShenzhen,ZungFuShenzhenprovidesloanstoZungFuTellusintheformofentrustedloans,andZungFuTellusborrowsfrombanksorotherfinancialenterpriseswiththeguaranteeprovidedbyZungFuShenzhen,andthetotalamountofborrowingdoesnotexceed100millionyuan,itshallassume35%oftheliabilitiesarisingfromtheaboveborrowingsinaccordancewiththeequityproportion,it’sagreedthattheCompanywillpledgeits35%oftheequityofZungFuTellustoZungFuShenzhenasthecorrespondingcounter-guaranteefortheaboveloan.TheCompany’ssubsidiarySichuanTellusJewelryTech.Co.,Ltd.’sshareholderChengduCaizhiyuanJewelryCo.,Ltd.'saffiliatedenterpriseChengduHezhiyuanJewelryCo.,Ltd.andaffiliatedindividualXiongYungui,ChengduRuihangJewelryCo.,Ltd.,ashareholderofSichuanTellusJewelryTech.Co.,Ltd.,andaffiliatedindividualLinHang,SichuanTellusJewelryTech.Co.,Ltd.’sshareholderChengduZhongjinGuifuJewelryCo.,LtdandaffiliatedindividualLinTonggui,SichuanTellusJewelryTech.Co.,Ltd.’sshareholderChengduHengyueTradingCo.,LtdandaffiliatedenterpriseChengduZhongchengShubaoJewelryCo.,LtdsetSichuanTellusJewelryTech.Co.,Ltd.asthecreditor'smaximumamountofguarantee,andtheprincipaldebtoftheguaranteeisSichuanTellusJewelryTech.Co.,Ltd.ForthereceivablesofLinQinandotherwarrantees,theguaranteedamountis41,479,900yuan.
(5)Relatedparty’sborrowedfunds
InRMB
| Relatedparty | Borrowingamount | Startingdate | Maturitydate | Note |
| Borrowing | ||||
| ShenzhenTellusHangInvestmentCo.,Ltd. | 155,131.17 | January1,2021 | December31,2022 | Paymentofpropertyrightsrepresentativesalary |
| HanchengEnergyGroupCo.,Ltd. | 52,200,000.00 | July17,2020 | Includinginterestpayable2,200,000.00yuan | |
| Lending | ||||
(6)Relatedparty’sassetstransferanddebtreorganization
Nil
(7)Remunerationofkeymanager
InRMB
| Item | Currentperiod | Lastperiod |
| Remunerationofdirectors,supervisorsandseniorexecutives | 2,695,100.00 | 2,926,900.00 |
(8)Otherrelatedtransaction
6.Receivableandpayableofrelatedparty
(1)Receivableitem
InRMB
| Item | Relatedparty | Endingbalance | Openingbalance | ||
| Bookbalance | Baddebtprovision | Bookbalance | Baddebtprovision | ||
| Accountsreceivable | ShenzhenXinyongtongAutoServiceCo.,Ltd. | 927,602.00 | 927,602.00 | 927,602.00 | 927,602.00 |
| ShenzhenSDGPettyLoanCo.,Ltd. | 7,324.78 | 1,154.82 | 115,481.80 | 1,154.82 | |
| ShenzhenZungFuTellusAutoServiceCo.,Ltd. | 2,103,142.92 | - | |||
| Subtotal | 3,038,069.70 | 928,756.82 | 1,043,083.80 | 928,756.82 | |
| Dividendreceivable | ShenzhenDongfengMotorCo.,Ltd. | 24,100,548.07 | 24,100,548.07 | ||
| Subtotal | 24,100,548.07 | - | 24,100,548.07 | ||
| Otherreceivable | ShenzhenTellusAutomobileServiceChainCo.,Ltd. | 1,359,297.00 | 1,359,297.00 | 1,359,297.00 | 1,359,297.00 |
| ShenzhenYongtongXindaInspectionEquipmentCo.,Ltd. | 531,882.24 | 531,882.24 | 531,882.24 | 531,882.24 | |
| ShenzhenXiandaoNewMaterialCo.,Ltd. | 660,790.09 | 660,790.09 | 660,790.09 | 660,790.09 | |
| ShenzhenTellusXinyongtongAutoServiceCo.,Ltd. | 114,776.33 | 114,776.33 | 114,776.33 | 114,776.33 | |
| JewelryParkBranchofShenzhenSDGServiceCo.,Ltd. | 549,449.40 | - | |||
| Subtotal | 3,216,195.06 | 2,666,745.66 | 2,666,745.66 | 2,666,745.66 | |
| Long-termreceivables | ShenzhenTellusAutomobileServiceChainCo.,Ltd. | 2,179,203.68 | 2,179,203.68 | 2,179,203.68 | 2,179,203.68 |
| Subtotal | 2,179,203.68 | 2,179,203.68 | 2,179,203.68 | 2,179,203.68 |
(2)Payableitem
InRMB
| Item | Relatedparty | Endingbookbalance | Openingbookbalance |
| Accountspayable | ShenzhenSDGRealEstateCo.,Ltd | 6,054,855.46 | 6,054,855.46 |
| ShenzhenMachineryEquipmentImport&ExportCorporation | 45,300.00 | 45,300.00 | |
| ShenzhenTellusGmanInvestmentCo.,Ltd. | 200,000.00 | 200,000.00 | |
| ShenzhenSDGEngineeringManagementCo.,Ltd | - | 12,905.66 | |
| ShenzhenSDGTellusPropertyManagementCo.,Ltd. | 8,626,405.80 | 2,516,323.68 | |
| Subtotal | 14,926,561.26 | 8,829,384.80 | |
| Advancesreceived | ShenzhenZungFuTellusAutoServiceCo.,Ltd. | 492,095.20 | |
| Subtotal | 492,095.20 | ||
| Otherpayable | HongKongYujiaInvestmentCo,Ltd. | 2,158,064.96 | 2,172,091.54 |
| ShenzhenSDGSwanIndustrialCo.,Ltd. | 20,703.25 | 20,703.25 | |
| ShenzhenMachineryEquipmentImp&Exp.Company | 1,554,196.80 | 1,554,196.80 | |
| ShenzhenSpecialDevelopmentGroupCo.,Ltd. | 17,416,948.94 | 17,429,247.94 | |
| ShenzhenLonggangTellusRealEstateCo.,Ltd. | 1,095,742.50 | 1,095,742.50 | |
| ShenzhenTellusYangchunRealEstateCo.,Ltd. | 476,217.49 | 476,217.49 | |
| ShenzhenTellusHangInvestmentCo.,Ltd. | 155,131.17 | 122,978.63 | |
| ShenzhenYongtongXindaInspectionEquipmentCo.,Ltd. | 5,600.00 | 5,600.00 | |
| AnhuiJinzunJewelryCo.,Ltd. | 1,330,000.00 | ||
| ShenzhenSDGTellusPropertyManagementCo.,Ltd. | 461,751.96 | 124,550.87 | |
| JewelryParkBranchofShenzhenSDGServiceCo.,Ltd. | 6,598.00 | 6,598.00 | |
| ShenzhenZungFuTellusAutoServiceCo.,Ltd. | 833,334.00 | ||
| ShenzhenSDGPettyLoanCo.,Ltd. | 227,836.80 | 227,836.80 | |
| JewelryParkBranchofShenzhenSDGServiceCo.,Ltd. | 58,100.00 | ||
| HanchengEnergyGroupCo.,Ltd. | 51,000,000.00 | 51,000,000.00 | |
| Subtotal | 74,578,791.87 | 76,457,197.82 |
XIII.Share-basedpayment
1.Overallsituationofshare-basedpayment
□Applicable√Notapplicable
2.Share-basedpaymentsettledbyequity
□Applicable√Notapplicable
3.Share-basedpaymentsettledbycash
□Applicable√Notapplicable
4.Modificationandterminationofshare-basedpaymentNil
XIV.Commitmentorcontingency
1.Importantcommitments
Capitalcommitment
| Capitalcommitmentsthathavebeensignedbutnotyetconfirmedinthefinancialstatements | June30,2021 | December31,2020 |
| Largecontract | 192,579,624.03 | 220,523,772.58 |
2.Contingency
(1)ContingencyonbalancesheetdateInMarch1998,TellusGroupprovidesguaranteefortheloanof3millionyuantoChinaCiticBankforJintianIndustrial(Group)Co.,Ltd.(hereinafterreferredtoasJintianCompany).Subsequently,asJintianCompanyfailedtorepaytheloan,ChinaCiticBankfiledalawsuit,requiringJintianCompanytofulfilltherepaymentresponsibilityandTellusGrouptoassumetheguaranteeresponsibility.Asaresult,TellusGroupwasforcedtodeduct4,081,830yuan(including3millionyuanofprincipal,1,051,380yuanofinterest,25,160yuanoflegalfees,andexecutionfeeof5,290yuan).InOctober2005,TellusGroupfiledalawsuitwiththePeople'sCourtofLuohuDistrict,ShenzhenCity,requestingthatJintianCompanyshouldbeorderedtopaythedeductedmoneytoTellusGroup.ThecourtruledinfavourofTellusGroup,andTellusGroupappliedforcompulsoryexecution,buttheexecutionwassuspendedasJintianCompanyhadnopropertyforexecution.InAugust1997,TellusGroupprovidedguaranteeforJintianCompany'sloanofUS$2milliontoShenzhenDevelopmentBankRenminqiaoBranch.Subsequently,duetoJintianCompany'sfailuretorepaytheloan,ShenzhenDevelopmentBankfiledalawsuit,requiringJintianCompanytofulfilltherepaymentresponsibilityandTellusGrouptoassumetheguaranteeresponsibility.TellusGrouprepaidUS$2,960,490plusinteresttoShenzhenDevelopmentBank.In2008,TellusGroupfiledalawsuitwiththePeople'sCourtofLuohuDistrict,ShenzhenCity,requestingthatJintianCompanyshouldbeorderedtopaythesaidamountandinterestrepaidbyTellusGrouponitsbehalf.ThroughthemediationofthePeople'sCourtofLuohuDistrict,Shenzhen,theyreachedtheagreementthatJintianCompanyshouldpaytheamountofUS$2,960,490toTellusGroupbyOctober31,2008,andTellusGroupshouldexemptJintianCompanyfrominterestpayment.IfJintianCompanyfailedtopayontime,itshouldpayapenaltyforoverduepaymentaccordingtotheRMBbenchmarklendingrateforthesameperiodpublishedbythePeople'sBankofChina.ThePeople'sCourtofLuohuDistrictmadethepaperofcivilmediation(2008)SLFMYCZNo.937.JintianCompanydidnotfulfillitsrepaymentobligation,TellusGroupappliedforcompulsoryenforcement,buttheexecutionwasruledtoterminateasJintianCompanyhadnopropertyforexecution.
In2014,JintianCompanyfiledforbankruptcyduetoitsinsolvencyandlaterenteredthebankruptcyreorganizationprocess.OnJanuary29,2016,ShenzhenIntermediatePeople'sCourtruledthattheexecutionofthereorganizationplanofJintianCompanywascompletedandthebankruptcyproceedingswereterminated.JintianCompanyshouldmakeadditionaldistributionstocreditorsincludingTellusGroupaccordingtothereorganizationplan,andTellusGroupshouldbedistributedcashof325,000yuanand427,604Asharesand163,886BsharesofJintianCompany.OnAugust15,2018,afterfailingtocommunicatewithJintianformanytimesaboutthecashandsharestobedistributedafterthebankruptcyandreorganizationofJintianCompany,TellusGroupfiledalawsuitwiththePeople'sCourtofQianhaiCooperationZone,andtheQianhaiCourtissuedaciviljudgment(2018)Yue0391MinChuNo.3104,JintianCompanywasorderedtopayTellusGroup325,000yuanincashand427,604Asharesand163,886BsharesofJintianCompanywithinfivedaysofthelegaleffectofthisjudgment(ifthesharescannotbedelivered,theymaybepaidincashatthemarketpriceofthesharesonthelastdayofthedeadlineforperformance).OnJanuary7,2021,TellusGroupappliedtothePeople'sCourtofQianhaiCooperationZoneforcompulsoryexecution,buttheexecutionwasterminatedasnoavailablepropertyofJintianCompanywasfound.TellusGroupfiledfortheexecutionofthebankruptcyapplicationtoQianhaiCourttoapplyforthebankruptcyofJintianCompanyagain,QianhaiCourthastransferredourcompany'sapplicationtoShenzhenIntermediatePeople'sCourtforbankruptcyexamination.Asoftheapprovaldateofthisfinancialreport,ShenzhenIntermediatePeople'sCourthasnotyetissuedtheexaminationresult,andTellusGrouphasnotreceivedtheexecutionpayment.TellusGrouphasdealtwiththeaboveclaimsasnon-operatingexpensesintheearlyyears,includedthemintheprofitsoftheyear,whichnolongerhaveanimpactonfutureoperations.
(2)IftheCompanyhasnoimportantcontingencyneedtodisclosed,explainreasons
TheCompanyhasnoimportantcontingencythatneedtodisclose.
3.OtherXV.EventsafterbalancesheetdateNotapplicable
XVI.Otherimportantevents
1.Previousaccountingerrorscollection
Nil
2.Debtrestructuring
Nil
3.Assetsexchange
Nil
4.Pensionplan
Nil
5.Discontinuingoperation
Nil
6.Segment
(1)RecognitionbasisandaccountingpolicyforreportablesegmentTheCompanydeterminesoperating(segment)divisionsbasedoninternalorganizationalstructure,managementrequirementsandinternalreportingsystem,anddeterminesthereportingsegmentbasedontheindustrysegment.Respectivelyassesstheoperatingperformanceofautomobilesales,automobilemaintenanceandtesting,leasingandservices,andjewelrywholesaleandretail.Theassetsandliabilitiesusedwitheachsegmentaredistributedamongthedifferentsegmentsinproportiontotheirsize.
(2)Financialinformationforreportablesegment
InRMB
| Item | Autosales | Automaintenanceandinspection | Leasingandservices | Wholesaleandretailofjewelry | Offsetbetweensegment | Total |
| Mainbusinessincome | 95,643,935.09 | 38,834,580.73 | 96,482,509.28 | 31,677,991.97 | -18,006,078.45 | 244,632,938.62 |
| Mainbusinesscost | 94,251,556.02 | 34,300,774.64 | 29,273,508.61 | 32,194,329.55 | -17,694,065.96 | 172,326,102.86 |
| Totalassets | 67,464,960.38 | 84,196,497.90 | 2,759,935,992.82 | 225,525,476.01 | -1,352,996,877.95 | 1,784,126,049.16 |
| Totalliability | 58,291,881.91 | 54,776,447.71 | 796,958,486.62 | 13,758,824.42 | -560,131,844.02 | 363,653,796.64 |
7.Othermajortransactionandeventsmakesinfluenceoninvestor’sdecision
Nil
8.OtherOnJuly17,2020,the17
th
interimmeetingofthe9thBoardofDirectorsoftheCompanydeliberatedandapprovedtheProposalontheSigningofIntentionAgreementBetweentheSubsidiaryandHubeiHans’IndustryInvestmentCo.,Ltd.Accordingtotheagreementsignedonthesamedaybetweenthecompany'ssubsidiaryAutoIndustryandTradeCompany(PartyA)andHubeiHans’IndustryInvestmentCo.,Ltd.(PartyB),PartyBundertakestoparticipateinPartyA'splantosell25%ofitsequityinShenzhenDongfengMotorCo.,LtdthroughtheShanghaiUnitedAssertsandEquityExchangeinaccordancewithlawsandregulations.Thetargetequityshallbetransferredatapricenotlessthan1/2ofthetransactionpriceof50%oftheequityheldbyPartyBinShenzhenDongfengMotorCo.,Ltd.,whichistransferredtoPartyBbyDongfengSpecialCommercialVehicleCo.,Ltd.,andatapricenotlessthantheappraisalpriceofthethird-partyintermediaryselectedorapprovedbyPartyA.PartyBshallpayPartyAaperformancebondof50,000,000.00yuan,andtheinterestonthebondshallbecalculatedaccordingtotheagreement.AutoIndustryandTradeCompanyhasreceivedaperformancebondof50,000,000.00yuanfromHubeiHans’IndustryInvestmentCo.,Ltd.inJuly2020,andaccruedinterestwas2,200,000.00yuanasofJune30,2021.Asofnow,AutoIndustryandTradeCompanyhasnotpubliclylistedthesaidstockequityforsale.
XVII.Principalnotesoffinancialstatementsofparentcompany
1.Accountreceivable
(1)Category
InRMB
| Category | Endingbalance | Openingbalance | ||||||||
| Bookbalance | Baddebtprovision | Bookvalue | Bookbalance | Baddebtprovision | Bookvalue | |||||
| Amount | Ratio | Amount | Accrualratio | Amount | Ratio | Amount | Accrualratio | |||
| Accountreceivablewithbaddebtprovisionaccrualonasinglebasis | 484,803.08 | 17.07% | 484,803.08 | 100.00% | - | 484,803.08 | 65.79 | 484,803.08 | 100 | 0 |
| Accountreceivablewithbaddebtprovisionaccrualonportfolio | 2,355,226.35 | 82.93% | 2,655.23 | 0.11% | 2,352,571.12 | 252,083.43 | 34.21 | 2,655.23 | 1.05 | 249,428.20 |
| Total | 2,840,029.43 | 100.00% | 487,458.31 | 17.16% | 2,352,571.12 | 736,886.51 | 100.00% | 487,458.31 | 66.15% | 249,428.20 |
Baddebtprovisionaccrualonsinglebasis:
InRMB
| Name | Endingbalance | |||
| Bookbalance | Baddebtprovision | Accrualratio | Accrualcauses | |
| ShenzhenBijiashanEntertainmentCompany | 172,000.00 | 172,000.00 | 100.00 | Theaccountsageislongandisnotexpectedtoberecovered |
| GongYanqing | 97,806.64 | 97,806.64 | 100.00 | Theaccountsageislongandisnotexpectedtoberecovered |
| GuangzhouLeminComputerCenter | 86,940.00 | 86,940.00 | 100.00 | Theaccountsageislongandisnotexpectedtoberecovered |
| Other | 128,056.44 | 128,056.44 | 100.00 | Theaccountsageislongandisnotexpectedtoberecovered |
| Total | 484,803.08 | 484,803.08 | -- | -- |
Baddebtprovisionaccrualonportfolio:
InRMB
| Name | Endingbalance | ||
| Bookbalance | Baddebtprovision | Accrualratio | |
| Withinoneyear | 2,355,226.35 | 2,655.23 | 0.11% |
| Total | 2,355,226.35 | 2,655.23 | -- |
Iftheprovisionforbaddebtsofaccountreceivableismadeinaccordancewiththegeneralmodelofexpectedcreditlosses,pleaserefertothedisclosureofotheraccountreceivablestodiscloserelatedinformationaboutbad-debtprovisions:
□ApplicableByaccountage
InRMB
| Accountage | Endingbalance |
| Withinoneyear(includingoneyear) | 2,355,226.35 |
| Over3years | 484,803.08 |
| Over5years | 484,803.08 |
| Total | 2,840,029.43 |
(2)Baddebtprovisionaccrual,collectedorreversalintheperiod
Baddebtprovisionaccrualintheperiod:
InRMB
| Category | Openingbalance | Amountchangedintheperiod | Endingbalance | |||
| Accrual | Collectedorreversal | Writtenoff | Other | |||
| Baddebtprovisionaccrualonasinglebasis | 484,803.08 | 484,803.08 | ||||
| Provisionforbaddebtsbycombination | 2,655.23 | 2,655.23 | ||||
| Total | 487,458.31 | 487,458.31 | ||||
(3)Accountreceivableactuallywritten-offintheperiod
Nil
(4)Top5accountreceivablesatendingbalancebyarrearsparty
InRMB
| Enterprise | Endingbalanceofaccountsreceivable | Proportionintotalreceivablesatendingbalance | Baddebtpreparationendingbalance |
| ShenzhenZungFuTellusAutoServiceCo.,Ltd. | 2,103,142.92 | 74.05% | |
| ShenzhenBijiashanEntertainmentCompany | 172,000.00 | 6.06% | 172,000.00 |
| ShenzhenJinchengYinyuJewelryCo.,Ltd. | 248,723.43 | 8.76% | 2,487.23 |
| GongYanqing | 97,806.64 | 3.44% | 97,806.64 |
| GuangzhouLeminComputerCenter | 86,940.00 | 3.06% | 86,940.00 |
| Total | 2,708,612.99 | 95.37% |
(5)Accountreceivablederecognitionduetofinancialassetstransfer
Nil
(6)Assetsandliabilitiesresultedbyaccountreceivabletransferandcontinuesinvolvement
Nil
2.Otheraccountreceivable
InRMB
| Item | Endingbalance | Openingbalance |
| Dividendsreceivable | 547,184.35 | 547,184.35 |
| Otheraccountreceivable | 80,961,269.69 | 126,422,912.78 |
| Total | 81,508,454.04 | 126,970,097.13 |
(1)Interestreceivable
Nil
(2)Dividendreceivable
1)Category
InRMB
| Item(orinvestedenterprise) | Endingbalance | Openingbalance |
| ChinaPudongDevelopmentMachineryIndustryCo.,Ltd | 547,184.35 | 547,184.35 |
| Total | 547,184.35 | 547,184.35 |
2)Importantdividendreceivablewithaccountageoveroneyear
Nil
3)Accrualofbaddebtprovision
□Applicable√Notapplicable
(3)Otheraccountreceivable
1)Bynature
InRMB
| Nature | Endingbookbalance | Openingbookbalance |
| Otherinterimpaymentreceivable | 13,908,997.69 | 13,650,486.51 |
| Relatedtransactionswithinthescopeofconsolidation | 80,643,106.99 | 126,363,261.26 |
| Total | 94,552,104.68 | 140,013,747.77 |
2)Accrualofbaddebtprovision
InRMB
| Baddebtprovision | PhaseI | PhaseII | PhaseIII | Total |
| Expectedcreditlossesovernext12months | Expectedcreditlossesfortheentireduration(withoutcreditimpairmentoccurred) | Expectedcreditlossesfortheentireduration(withcreditimpairmentoccurred) | ||
| BalanceofJan.1,2021 | 2,489.33 | 13,588,345.66 | 13,590,834.99 | |
| BalanceofJan.1,2020intheperiod | —— | —— | —— | —— |
| --Transfertothesecondstage | ||||
| --Transfertothethirdstage | ||||
| --Reversaltothesecondstage |
| --Reversaltothefirststage | ||||
| Currentprovision | ||||
| Currentreversal | ||||
| Currentconversion | ||||
| Currentwriteoff | ||||
| Otherchange | ||||
| BalanceofJun.30,2020 | 2,489.33 | 13,588,345.66 | 13,590,834.99 |
Changeofbookbalanceoflossprovisionwithamounthasmajorchangesintheperiod
□NotapplicableByaccountage
InRMB
| Accountage | Endingbalance |
| Withinoneyear(includingoneyear) | 80,963,759.02 |
| 1-2years | |
| 2-3years | |
| Over3years | 13,588,345.66 |
| 3-4years | |
| 4-5years | |
| Over5years | 13,588,345.66 |
| Total | 94,552,104.68 |
3)Baddebtprovisionaccrual,collectedorreversalintheperiod
Baddebtprovisionaccrualintheperiod:
InRMB
| Category | Openingbalance | Amountchangedintheperiod | Endingbalance | |||
| Accrual | Collectedorreversal | Writtenoff | Other | |||
| Baddebtprovisionaccrualonasinglebasis | 13,588,345.66 | 13,588,345.66 | ||||
| Provisionforbaddebtsbycombination | 2,489.33 | 2,489.33 | ||||
| Total | 13,590,834.99 | 13,590,834.99 | ||||
4)Otheraccountreceivableactuallywritten-offintheperiod
Nil
5)Top5otherreceivablesatendingbalancebyarrearsparty
InRMB
| Enterprise | Nature | Endingbalance | Accountage | Ratiointotalendingbalanceofotheraccount | Endingbalanceofbaddebtreserve |
| receivables | |||||
| ZhongqiSouthChinaAutoSalesCompany | Internalintercourse | 9,832,956.37 | Over3years | 10.40% | 9,832,956.37 |
| SouthIndustry&TRADEShenzhenIndustrialCompany | Internalintercourse | 7,359,060.75 | Over3years | 7.78% | 7,359,060.75 |
| ShenzhenZhonghao(Group)Co.,Ltd | Internalintercourse | 5,000,000.00 | Over3years | 5.29% | 5,000,000.00 |
| ShenzhenKaifengSpecialAutomobileIndustryCo.,Ltd. | Internalintercourse | 4,413,728.50 | Over3years | 4.67% | 4,413,728.50 |
| GoldBeiliElectricalAppliancesCompany | Internalintercourse | 2,706,983.51 | Over3years | 2.86% | 2,706,983.51 |
| Total | -- | 29,312,729.13 | -- | 31.00% | 29,312,729.13 |
6)Otheraccountreceivablesrelatedtogovernmentgrants
Nil
7)Otherreceivableforterminationofconfirmationduetothetransferoffinancialassets
Nil
8)Theamountofassetsandliabilitiesthataretransferredotherreceivableandcontinuedtobeinvolved
NilOtherexplanation:
| Name | Endingbalance | |||
| Bookbalance | Baddebtprovision | Provisionratio | Reasonforprovision | |
| ShenzhenZhonghao(Group)Co.,Ltd | 5,000,000.00 | 5,000,000.00 | 100% | Theaccountsageislongandisnotexpectedtoberecovered |
| GoldBeiliElectricalAppliancesCompany | 2,706,983.51 | 2,706,983.51 | 100% | Theaccountsageislongandisnotexpectedtoberecovered |
| ShenzhenPetrochemicalGroup | 1,903,819.59 | 1,903,819.59 | 100% | Theaccountsageislongandisnotexpectedtoberecovered |
| ShenzhenSDGHuatongPackagingIndustryCo.,Ltd. | 1,212,373.79 | 1,212,373.79 | 100% | Theaccountsageislongandisnotexpectedtoberecovered |
| ShenzhenXiandaoNewMaterialsCo.,Ltd. | 660,790.09 | 660,790.09 | 100% | Theaccountsageislongandisnotexpectedtoberecovered |
| Other | 2,104,378.68 | 2,104,378.68 | 100% | Theaccountsageislongandisnotexpectedtoberecovered |
| Total | 13,588,345.66 | 13,588,345.66 | -- | -- |
3.Long-termequityinvestment
InRMB
| Item | Endingbalance | Openingbalance | ||||
| Bookbalance | Impairmentprovision | Bookvalue | Bookbalance | Impairmentprovision | Bookvalue | |
| Investmentforsubsidiary | 794,745,472.73 | 1,956,000.00 | 792,789,472.73 | 799,743,472.73 | 6,954,000.00 | 792,789,472.73 |
| Investmentforassociatesandjointventure | 106,292,629.89 | 9,787,162.32 | 96,505,467.57 | 93,758,474.47 | 9,787,162.32 | 83,971,312.15 |
| Total | 901,038,102.62 | 11,743,162.32 | 889,294,940.30 | 893,501,947.20 | 16,741,162.32 | 876,760,784.88 |
(1)Investmentforsubsidiary
InRMB
| Theinvestedentity | Openingbalance(bookvalue) | Increaseanddecreaseincurrentperiod | Endingbalance(bookvalue) | Endingbalanceofimpairmentprovision | |||
| Additionalinvestment | Reduceinvestment | Provisionforimpairment | Other | ||||
| ShenzhenSDGTellusRealEstateCo.,Ltd. | 31,152,888.87 | 31,152,888.87 | |||||
| ShenzhenTellusChuangyingTechnologyCo.,Ltd. | 14,000,000.00 | 14,000,000.00 | |||||
| ShenzhenTellusXinyongtongAutomobileDevelopmentCo.Ltd. | 57,672,885.22 | 57,672,885.22 | |||||
| ShenzhenZhongtianIndustrialCo,.Ltd. | 369,680,522.90 | 369,680,522.90 | |||||
| ShenzhenAutoIndustryandTradeCorporation | 126,251,071.57 | 126,251,071.57 | |||||
| ShenzhenSDGHuariAutoEnterpriseCo., | 19,224,692.65 | 19,224,692.65 | |||||
| Ltd. | ||||
| ShenzhenHuariTOYOTAAutomobileSalesServiceCo.,Ltd. | 1,807,411.52 | 1,807,411.52 | ||
| ShenzhenXinyongtongAutomobileInspectionEquipmentCo.Ltd. | 10,000,000.00 | 10,000,000.00 | ||
| SichuanTellusJewelryTech.Co.,Ltd. | 100,000,000.00 | 100,000,000.00 | ||
| ShenzhenTellusTreasureSupplyChainTech.Co.,Ltd. | 50,000,000.00 | 50,000,000.00 | ||
| ShenzhenHanligaoTechnologyCeramicsCo.,Ltd. | 0.00 | 0.00 | 1,956,000.00 | |
| ShenzhenJewelryIndustryServiceCo.,LTD | 13,000,000.00 | 13,000,000.00 | ||
| Total | 792,789,472.73 | 792,789,472.73 | 1,956,000.00 |
(2)Investmentforassociatesandjointventure
InRMB
| investmentcompany | Openingbalance(bookvalue) | Currentchanges(+,-) | Endingbalance(bookvalue) | Endingbalanceofimpairmentprovision | |||||||
| Additionalinvestment | Capitalreduction | Investmentgainsrecognizedunderequity | Othercomprehensiveincomeadjustment | Otherequitychange | Cashdividendorprofitannouncedtoissued | Accrualofimpairmentprovision | Other | ||||
| I.Jointventure | |||||||||||
| ShenzhenTellusGmanInvestme | 37,666,741.13 | 4,623,167.75 | 42,289,908.88 | ||||||||
| ntCo.,Ltd | ||||||
| ShenzhenTellusHangInvestmentCo.,Ltd. | 12,697,424.88 | 361,200.15 | 13,058,625.03 | |||
| Subtotal | 50,364,166.01 | 4,984,367.90 | 55,348,533.91 | |||
| II.Associatedenterprise | ||||||
| ShenzhenZungFuTellusAutoServiceCo.,Ltd. | 33,607,146.14 | 7,549,787.52 | 41,156,933.66 | |||
| HunanChangyangIndustrialCo.,Ltd. | 1,810,540.70 | |||||
| ShenzhenJiechengElectronicCo.,Ltd. | 3,225,000.00 | |||||
| ShenzhenXiandaoNewMaterialsCo.,Ltd. | 4,751,621.62 | |||||
| Subtotal | 33,607,146.14 | 7,549,787.52 | 41,156,933.66 | 9,787,162.32 | ||
| Total | 115,314,567.87 | 12,534,155.42 | 96,505,467.57 | 9,787,162.32 | ||
(3)Othernotes
4.Operatingincomeandoperatingcost
InRMB
| Item | Currentperiod | Lastperiod | ||
| Income | Cost | Income | Cost | |
| Mainbusiness | 19,483,635.23 | 5,163,217.03 | 13,120,854.52 | 3,857,719.57 |
| Total | 19,483,635.23 | 5,163,217.03 | 13,120,854.52 | 3,857,719.57 |
5.Investmentincome
InRMB
| Item | Currentperiod | Lastperiod |
| Long-termequityinvestmentincomemeasuredbycost | 8,400,304.32 | |
| Long-termequityinvestmentincomemeasuredbyequity | 12,534,155.42 | 8,715,946.43 |
| Investmentincomefromthedisposaloflong-termequityinvestments | 21,843.90 | |
| Investmentincomeoftradingfinancialassetsduringtheholdingperiod | 2,053,727.05 | 2,114,272.43 |
| Total | 14,609,726.37 | 19,230,523.18 |
6.OtherXVIII.Supplementaryinformation
1.Currentnon-recurringgains/losses
√Applicable□Notapplicable
InRMB
| Item | Amount | Note |
| Governmentalsubsidyreckonedintocurrentgains/losses(notincludingthesubsidyenjoyedinquotaorrationaccordingtonationalstandards,whicharecloselyrelevanttoenterprise’sbusiness) | 322,337.67 | Governmentsubsidies |
| ExceptforeffectivehedgebusinessrelevanttonormaloperationoftheCompany,gainsandlossesarisingfromfairvaluechangeoftradablefinancialassets,derivativefinancialliabilities,tradablefinancialliabilityandderivativefinancialliabilityandinvestmentincomefromdisposaloftradablefinancialassets,derivativefinancialliabilities,tradablefinancialliability,derivativefinancialliabilityandotherdebtinvestment | 4,293,168.16 | Wealthmanagementincome |
| Othernon-operatingincomeandexpenditureexceptfortheaforementioneditems | 62,938.74 | Theincomefromforfeitureofleasedepositduetothetenantwithdrewtheleaseinadvance |
| Othergain/lossthatmeetthedefinitionofnon-recurringgain/loss | 4,082.49 | |
| Less:Impactonincometax | 1,085,554.08 | |
| Impactonminorityinterests | 644,850.13 | |
| Total | 2,952,122.85 | -- |
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 | 3.34% | 0.1033 | 0.1033 |
| NetprofitsbelongtocommonstockstockholdersoftheCompanyafterdeductingnonrecurringgainsandlosses | 3.12% | 0.0965 | 0.0965 |
3.DifferenceoftheaccountingdataunderaccountingrulesinandoutofChina
(1)Differenceofthenetprofitandnetassetsdisclosedinfinancialreport,underbothIAS(InternationalAccountingStandards)andChineseGAAP(GenerallyAcceptedAccountingPrinciples)
□Applicable√Notapplicable
(2)Differenceofthenetprofitandnetassetsdisclosedinfinancialreport,underbothforeignaccountingrulesandChineseGAAP(GenerallyAcceptedAccountingPrinciples)
□Applicable√Notapplicable
(3)ExplanationondatadifferencesundertheaccountingstandardsinandoutofChina;asforthedifferencesadjustmentauditedbyforeignauditinginstitute,listednameoftheinstituteNil